2014 Financial Statement
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EDC <strong>2014</strong> Performance Report<br />
21.<br />
Costs of Sale of Electricity<br />
<strong>2014</strong> 2013 2012<br />
Depreciation and amortization<br />
(Notes 12 and 13) ₱3,664,022,741 ₱3,201,232,020 ₱3,195,213,914<br />
Purchased services and utilities<br />
(Note 20) 2,339,128,843 1,858,590,801 1,729,664,759<br />
Personnel costs<br />
(Notes 23, 27 and 30) 2,040,257,709 1,619,218,711 1,681,195,017<br />
Parts and supplies issued (Note 10) 1,067,442,483 788,973,966 768,473,850<br />
Rental, insurance and taxes<br />
(Note 32) 1,066,267,700 965,567,644 1,005,291,154<br />
Repairs and maintenance 747,222,579 742,635,113 1,214,445,888<br />
Royalty fees (Notes 16 and 33) 269,077,902 230,815,175 169,752,256<br />
Business and related expenses 173,060,809 130,707,369 166,168,972<br />
Proceeds from insurance claims (52,148,525) (102,385,875) (105,931,390)<br />
₱11,314,332,241 ₱9,435,354,924 ₱9,824,274,420<br />
Purchased services and utilities includes professional and technical services, hauling and handling<br />
costs, rig mobilization charges, contractual personnel costs and other services and utilities expense.<br />
Business and related expenses covers the expenses incurred by the Company for local and foreign<br />
travel, company meeting expenses and advertising and among other business expenses.<br />
Proceeds from insurance claims are shown as a separate line item under the costs of sale of<br />
electricity. The Parent Company charges to expense outright any costs incurred relating to<br />
restoring or rehabilitating facilities or land improvements damaged by typhoons or by other factors<br />
which do not meet the capitalization criteria. Proceeds from the insurance claims are subsequently<br />
recognized when receipt is virtually certain.<br />
22.<br />
General and Administrative Expenses<br />
<strong>2014</strong> 2013 2012<br />
Personnel costs (Notes 23, 27<br />
and 30) ₱1,785,339,678 ₱1,241,744,195 ₱1,606,426,813<br />
Purchased services and utilities 1,929,125,394 1,431,263,858 1,108,600,474<br />
Rental, insurance and taxes<br />
(Notes 32 and 37) 816,988,039 497,103,590 802,484,066<br />
Business and related expenses 462,791,410 430,027,408 469,171,599<br />
Depreciation and amortization<br />
(Notes 12 and 13) 415,276,556 368,115,332 364,315,008<br />
Parts and supplies issued (Note 10) 229,103,395 156,968,210 154,094,455<br />
Repairs and maintenance 71,437,545 23,965,312 46,871,862<br />
Provision for doubtful accounts<br />
(Notes 8 and 15) 59,627,889 138,709,089 236,470,299<br />
Provision for (reversal of)<br />
impairment of parts and supplies<br />
inventories (Notes 3 and 10) (25,340,773) 123,020,732 (83,504,018)<br />
Reversal of provision for doubtful<br />
accounts (Notes 8 and 15) – (78,729,478) (2,337,010)<br />
Loss on direct write-off<br />
of receivables – – 281,981<br />
₱5,744,349,133 ₱4,332,188,248 ₱4,702,875,529<br />
95
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