EDC 2014 SR (UPDATED)
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
<strong>EDC</strong> <strong>2014</strong> Performance Report<br />
Years Ended December 31<br />
<strong>2014</strong> 2013 2012<br />
CASH FLOWS FROM INVESTING ACTIVITIES<br />
Acquisitions of property, plant and equipment (Note 12) (₱19,682,564,840) (₱10,366,499,024) (₱6,663,047,373)<br />
Purchase of Hot Rock entities (Notes 3 and 13) (133,185,000) – –<br />
Proceeds from revenue generated from testing of property,<br />
plant and equipment (Note 12) – 1,401,482,922 520,417,469<br />
Interest received 240,298,311 284,694,418 365,288,722<br />
Acquisition of intangible assets (Note 13) (86,577,780) (145,058,843) –<br />
Purchase of available-for-sale investments (Note 20) (76,510,586) (87,335,659) (162,093,722)<br />
Purchase of financial assets at fair value through profit or<br />
loss (Note 9) (500,000,000) – –<br />
Proceeds from redemption of available-for-sale investments<br />
(Note 9) 346,448,103 130,428,284 –<br />
Proceeds from disposal and retirement of property, plant<br />
and equipment (Notes 12, 20 and 26) 1,476,748,309 34,977,421 5,426,167<br />
Increase in:<br />
Exploration and evaluation assets (Notes 13 and 14) (411,034,200) (1,351,490,941) (517,025,999)<br />
Other noncurrent assets (1,585,139,956) (417,160,849) (1,698,256,608)<br />
Net cash flows used in investing activities (20,411,517,639) (10,515,962,271) (8,149,291,344)<br />
CASH FLOWS FROM FINANCING ACTIVITIES<br />
Payments of:<br />
Long-term debts (Note 17) (8,533,529,000) (2,439,902,500) (8,287,843,366)<br />
Dividends (Note 19) (4,415,755,057) (3,958,703,199) (4,495,033,076)<br />
Proceeds from long-term debts (Note 17) 19,157,557,718 10,348,278,531 6,934,833,050<br />
Investment from non-controlling shareholders 2,035,760 – –<br />
Interest and financing charges paid (3,921,038,030) (3,477,303,213) (4,108,361,868)<br />
Net cash flows from (used in) financing activities 2,289,271,391 472,369,619 (9,956,405,260)<br />
NET INCREASE (DECREASE) IN CASH<br />
AND CASH EQUIVALENTS (2,033,390,956) 4,603,819,843 (1,069,127,464)<br />
EFFECT OF FOREIGN EXCHANGE RATE<br />
CHANGES ON CASH AND CASH<br />
EQUIVALENTS 449,814 19,190,510 (4,135,296)<br />
CASH AND CASH EQUIVALENTS<br />
AT BEGINNING OF YEAR 16,043,154,556 11,420,144,203 12,493,406,963<br />
CASH AND CASH EQUIVALENTS<br />
AT END OF YEAR (Note 7) ₱14,010,213,414 ₱16,043,154,556 ₱11,420,144,203<br />
See accompanying Notes to Consolidated Financial Statements.<br />
142
Change language