2014 Financial Statement

EDC 2014 Performance Report
2013
Derivatives
Loans and
AFS
Liabilities at
Amortized Financial Assets
Designated
as Cash Flow
Receivables Investments Cost
at FVPL Hedges Total
(In Thousand Pesos)
Financial Assets
Cash and cash equivalents ₱16,043,155 ₱– ₱– ₱– ₱– ₱16,043,155
Trade receivables 3,305,921 − − − − 3,305,921
Non-trade receivables 94,852 − − − − 94,852
Loans and notes
receivables 124,937 − − − − 124,937
Employee receivables 11,958 − − − − 11,958
Long-term receivables 16,685 − − − − 16,685
AFS - debt investments − 341,842 − − − 341,842
AFS - equity investments − 407,242 − − − 407,242
Derivative assets − − − 7,547 53,583 61,130
Total financial assets ₱19,597,508 ₱749,084 ₱– ₱7,547 ₱53,583 ₱20,407,722
(In Thousand Pesos)
Financial Liabilities
Accounts payable* ₱– ₱– ₱5,351,131 ₱– ₱– ₱5,351,131
Accrued interest on longterm
debts − − 792,686 − − 792,686
Other payables** − − 56,563 − − 56,563
Due to related parties − − 53,347 − − 53,347
Royalty payable − − 39,671 39,671
Long-term debts − − 58,548,760 − − 58,548,760
Derivative liabilities − − − − 4,198 4,198
Total financial assets ₱– ₱– ₱64,842,158 − ₱4,198 ₱64,846,356
*excluding statutory liabilities to the Government
**excluding non-financial liabilities.
The table below demonstrates the income, expense, gains or losses of the Company’s financial
instruments for the year ended December 31, 2014, 2013 and 2012.
2014 2013 2012
Effect on Profit
or Loss
Effect
on Equity
Effect on
Profit or Loss
Effect
on Equity
Effect on
Profit or Loss
Effect
on Equity
Increase
(Decrease)
Increase
(Decrease)
Increase
(Decrease)
Increase
(Decrease)
Increase
(Decrease)
Increase
(Decrease)
Loans and receivables
Interest income on:
Cash in banks (Note 7) ₱538,777 ₱− ₱52,155,412 ₱− ₱3,596,543 ₱–
Cash equivalents (Note 7) 158,432,173 – 230,926,922 – 312,797,929 –
Trade receivables – – – – 693,922 –
Employee and other
receivables 25,622,077 – 8,992,474 – 3,338,547 –
Provision for doubtful
accounts - trade receivables – – (15,545,673) – (31,775,230) –
₱184,593,027 ₱– ₱276,529,135 ₱− ₱288,651,711 ₱–
AFS investments
Equity investments:
Net gain (loss) recognized
in equity ₱– ₱116,656,029 ₱– (₱55,137,703) ₱– (₱3,648,940)
Debt investments:
Net gain (loss) recognized
in equity – (3,074,675) – (26,773,701) – 23,412,750
Interest income on
government debt
securities 98,628 – 785,152 – 43,111,994 –
Net unrealized gain removed
from equity and
recognized in profit or
loss (Note 9) – – – – – –
Gain on early redemption of
AFS investment (Note 9) – – – – – –
₱98,628 ₱113,581,354 ₱785,152 (₱81,911,404) ₱43,111,994 ₱19,763,810
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