EDC PR 2016 (FS section)
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The movements of the net accumulated unrealized gain related to the foregoing investments are<br />
presented in the consolidated statements of comprehensive income with details as follows:<br />
<strong>2016</strong> 2015 2014<br />
Net accumulated unrealized gain<br />
on A<strong>FS</strong> investments at<br />
beginning of year ₱104,003,133 ₱143,192,675 ₱29,611,321<br />
Changes in fair value recognized<br />
in OCI (1,535,388) (39,189,542) 113,581,354<br />
Net accumulated unrealized gain<br />
on A<strong>FS</strong> investments at end<br />
of year ₱102,467,745 ₱104,003,133 ₱143,192,675<br />
Changes in fair value recognized in the consolidated statements of comprehensive income pertain<br />
to the unrealized gains and losses during the period brought about by the temporary increase or<br />
decrease in the fair value of the debt and equity A<strong>FS</strong> securities.<br />
10. Parts and Supplies Inventories<br />
<strong>2016</strong> 2015<br />
Drilling tubular products and equipment spares ₱1,323,797,299 ₱1,465,329,233<br />
Power plant spares 957,323,689 782,543,298<br />
Pump, production/steam gathering system, steam<br />
turbine, valves and valve spares 858,124,311 694,433,653<br />
Electrical, cable, wire product and compressor<br />
spares 109,720,431 90,825,523<br />
Construction and hardware supplies, stationeries<br />
and office supplies, hoses, communication and<br />
other spares and supplies 68,559,561 65,697,140<br />
Heavy equipment spares 58,170,185 59,415,737<br />
Automotive, mechanical, bearing, seals, v-belt,<br />
gasket, tires and batteries 49,820,459 35,132,285<br />
Chemical, chemical products, gases and catalyst 35,079,688 36,621,297<br />
Measuring instruments, indicators and tools,<br />
safety equipment and supplies 19,416,341 21,945,193<br />
₱3,480,011,964 ₱3,251,943,359<br />
Allowance for inventory obsolescence and disposable parts and supplies:<br />
<strong>2016</strong> 2015<br />
Balance at beginning of year ₱345,131,834 ₱274,143,607<br />
Provision (Note 22) 58,441,169 70,988,227<br />
Balance at end of year ₱403,573,003 ₱345,131,834<br />
Parts and supplies inventories include items that are carried at net realizable value amounting to<br />
₱529.6 million and ₱613.4 million as of December 31, <strong>2016</strong> and 2015, respectively, and have a<br />
cost amounting to ₱575.0 million and ₱672.6 million, respectively. The rest of the parts and<br />
supplies inventories are carried at cost.<br />
224<br />
I Energy Development Corporation Performance Report <strong>2016</strong>
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