EDC 2014 SR (UPDATED)
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<strong>EDC</strong> <strong>2014</strong> Performance Report<br />
Depreciation and Amortization<br />
Details of depreciation and amortization charges recognized in the consolidated statements of<br />
income are shown below:<br />
<strong>2014</strong> 2013 2012<br />
Property, plant and equipment ₱4,018,702,569 ₱3,608,447,153 ₱3,569,215,577<br />
Intangible assets (Note 13) 114,113,239 122,908,336 96,191,157<br />
Capitalized Depreciation (53,516,511) (162,008,137) (86,779,563)<br />
₱4,079,299,297 ₱3,569,347,352 ₱3,578,627,171<br />
Costs of sales of electricity and steam<br />
(Note 21) ₱3,664,022,741 ₱3,201,232,020 ₱3,195,213,914<br />
General and administrative expenses<br />
(Note 22) 415,276,556 368,115,332 364,315,008<br />
Discontinued drilling operations<br />
(Note 5) – – 19,098,249<br />
₱4,079,299,297 ₱3,569,347,352 ₱3,578,627,171<br />
Reclassifications<br />
The reclassifications in the accumulated depreciation of property, plant and equipment include the<br />
capitalized depreciation charges amounting to ₱53.5 million in <strong>2014</strong> and ₱162.0 million in 2013<br />
under construction in progress which primarily relates to ongoing drilling of production wells<br />
Also reclassifications in the cost of property, plant and equipment in <strong>2014</strong> and 2013 were due to<br />
results of reassessment made by the Company on the nature of the assets.<br />
13.<br />
Goodwill and Intangible Assets<br />
<strong>2014</strong><br />
Other Intangible<br />
Goodwill Water Rights Assets<br />
Total<br />
Cost<br />
Balances at January 1 ₱2,535,051,530 ₱2,404,778,918 ₱171,776,021 ₱5,111,606,469<br />
Additions 116,395,860 – 54,166,087 170,561,947<br />
Reclassifications (Note 12) – – 86,577,781 86,577,781<br />
Balances at December 31 2,651,447,390 2,404,778,918 312,519,889 5,368,746,197<br />
Accumulated Amortization<br />
Balances at January 1 – 685,361,992 26,717,178 712,079,170<br />
Amortization<br />
(Notes 21 and 22) – 96,191,157 17,922,082 114,113,239<br />
Balances at December 31 – 781,553,149 44,639,260 826,192,409<br />
Net Book Value ₱2,651,447,390 ₱1,623,225,769 ₱267,880,629 ₱4,542,553,788<br />
202
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