EDC PR 2016 (FS section)

Carrying amount of exploration and evaluation assets per project are as follows:
2016 2015
Rangas/Kayabon ₱1,721,611,290 ₱1,695,993,174
Mindanao III 1,171,774,455 1,169,094,812
Dauin/Bacong 77,564,743 77,609,202
Others 138,064,158 130,903,579
₱3,109,014,646 ₱3,073,600,767
15. Other Noncurrent Assets
2016 2015
Input VAT ₱4,426,616,196 ₱4,471,008,284
Tax credit certificates 2,688,709,299 2,655,267,017
Prepaid expenses 674,173,182 (11,311,991)
Long-term receivables (Note 31) 140,566,132 127,074,578
Special deposits and funds 134,006,924 117,103,382
Others 1,564,073,072 1,112,461,952
9,628,144,805 9,017,509,704
Less allowance for doubtful accounts 458,119,157 433,294,147
₱9,170,025,648 ₱8,584,215,557
Input VAT
Input VAT represents VAT due or paid on purchases of goods and services that the Company can
claim against any future liability to the BIR for output VAT from sale of goods and services. As
of December 31, 2016 and 2015, this input VAT amounted to ₱2,920.9 million and
₱3,132.5 million, respectively.
Input VAT also includes the outstanding input VAT claims that were applied by the Company for
refund with the BIR/Supreme Court (SC). As of December 31, 2016 and 2015, the outstanding
input VAT claims which are still pending with the BIR/SC amounted to ₱1,505.7 million and
₱1,338.5 million, respectively.
Tax credit certificates (TCCs)
The Company’s TCCs consist of the following:
December 31, 2016
Entity
Beginning of
the year Additions
Utilization/
monetization End of the year
EDC ₱2,682,241,987 ₱747,117,891 (₱793,804,769) ₱2,635,555,109
EBWPC 15,889,006 97,340,819 (4,627,560) 108,602,265
GCGI 12,703,137 105,082,689 (43,424,962) 74,360,864
BGI – 58,728,253 (46,077,865) 12,650,388
FG Hydro 224,127,100 19,601,614 (243,728,714) –
₱2,934,961,230 ₱1,027,871,266 (₱1,131,663,870) ₱2,831,168,626
234
I Energy Development Corporation Performance Report 2016