cash flow.docx
TRANSCRIPT
CASH FLOW
Operating Activities
Fiscal year is January-December. All values PHP millions.
2010 2011 2012 2013 20145-year trend
Net Income before Extraordinaries 4.19B 4.36B 4.86B 6.25B 6.76B
Depreciation, Depletion & Amortization
2.15B 2.58B 2.83B 3.18B 3.19B
Depreciation and Depletion 1.98B 2.4B 2.71B 3.07B 3.19B
Amortization of Intangible Assets
168.53M182.57
M121.18M 110.2M -
Deferred Taxes & Investment Tax Credit
0 0 0 0 0
Deferred Taxes - - - - -
Investment Tax Credit 0 0 0 0 0
Other Funds (906.18M) (893.37M) (839.59M) (678.27M) (1.07B)
Funds from Operations 5.43B 6.05B 6.85B 8.75B 8.87B
Extraordinaries 0 0 0 0 0
Changes in Working Capital (111.92M) (452.02M) 1.19B 328.34M (6.14B)
Receivables 33.44M(314.2M
)(214.75
M)(324.83
M)(4.54B)
Fiscal year is January-December. All values PHP millions.
2010 2011 2012 2013 20145-year trend
Accounts Payable 201.82M783.52
M858M 2.04B 1.79B
Other Assets/Liabilities (133.65M)(227.4M
)308.05M
(447.09M)
(972.11M)
Net Operating Cash Flow 5.31B 5.6B 8.04B 9.08B 2.74B
Investing Activities
2010 2011 2012 2013 20145-year trend
Capital Expenditures (2.55B) (3.7B) (3.76B) (4.18B) (5.36B)
Capital Expenditures (Fixed Assets)
(2.55B) (3.7B) (3.76B) (3.91B) (5.05B)
Capital Expenditures (Other Assets)
0 0 0(267.27
M)(318.74
M)
Net Assets from Acquisitions (2.71B) (637.66M) (127.59M) 0 0
Sale of Fixed Assets & Businesses 96.03M 31.98M 41.17M 50.66M 291.2M
Purchase/Sale of Investments (39.18M) (8.01M) (207.72M) (274.03M) (454.06M)
Purchase of Investments (39.6M) (8.01M)(210.72
M)(274.03
M)(454.06
M)
Sale/Maturity of Investments 422,631 0 3M 0 -
2010 2011 2012 2013 20145-year trend
Other Uses (18.8M) (2.86B) 0 0 (270.95M)
Other Sources 106.13M 18.73M 166.33M 109.57M 0
Net Investing Cash Flow (5.12B) (7.16B) (3.88B) (4.29B) (5.8B)
Financing Activities
2010 2011 2012 2013 20145-year trend
Cash Dividends Paid - Total
(2.56B) (1.2B) (2.27B) (3.23B) (1.56B)
Common Dividends (2.56B) (1.2B) (2.27B) (3.23B) (1.56B)
Preferred Dividends 0 0 0 0 0
Change in Capital Stock 27.89M 111.12M 301.6M 210.91M 657.39M
Repurchase of Common & Preferred Stk.
0 0 0 0 0
Sale of Common & Preferred Stock
27.89M 111.12M 301.6M 210.91M 657.39M
Proceeds from 27.89M 111.12 301.6M 210.91 657.39
2010 2011 2012 2013 20145-year trend
Stock Options M M M
Other Proceeds from Sale of Stock
0 0 0 0 0
Issuance/Reduction of Debt, Net
1.48B 1.31B 71.94M (566.77M) 1.82B
Change in Current Debt
1.54B 557.97M (900M) 0 1.87B
Change in Long-Term Debt
(53.7M) 751.19M 971.94M (566.77M) (43.45M)
Issuance of Long-Term Debt
- 3.13B 1.7B 2.58B 1.05B
Reduction in Long-Term Debt
(53.7M) (2.38B)(728.86
M)(3.15B) (1.1B)
Other Funds 53M (178.13M) (73.82M) (150.4M) (150.15M)
Other Uses (2M) (178.13M) (153.7M) (179.81M) (150.15M)
Other Sources 55M 0 79.87M 29.42M 0
Net Financing Cash Flow
(992.45M) 45.54M (1.97B) (3.74B) 768.13M
Exchange Rate Effect (4.6M) (393,676) 8.02M 4.89M 5.54M
Miscellaneous Funds 0 0 0 0 0
2010 2011 2012 2013 20145-year trend
Net Change in Cash (806.77M) (1.52B) 2.19B 1.06B (2.29B)
Free Cash Flow 2.76B 1.9B 4.29B 5.17B (2.31B)
BALANCE SHEET
Assets
Fiscal year is January-December. All values PHP millions.
2010 2011 2012 2013 20145-year trend
Cash & Short Term Investments
8.17B 6.66B 8.85B 9.9B 7.62B
Cash Only 8.17B 6.66B 8.85B 9.9B 7.62B
Short-Term Investments
0 0 0 0 0
Fiscal year is January-December. All values PHP millions.
2010 2011 2012 2013 20145-year trend
Total Accounts Receivable
1.98B 2.29B 2.75B 3.08B 7.62B
Accounts Receivables, Net
1.84B 2.09B 2.45B 2.85B 7.27B
Accounts Receivables, Gross
1.97B 2.25B 2.71B 3.13B 7.48B
Bad Debt/Doubtful Accounts
(136.08M)(164.74
M)(260.14
M)(274.46
M)(208.94
M)
Other Receivables
139.45M 202.59M 295.72M 228.98M 350.93M
Inventories 2.13B 3.51B 3.2B 4.4B 7.49B
Finished Goods 0 0 - - 0
Work in Progress 0 0 - - 0
Raw Materials 2.13B 2.84B 2.62B 3.51B 5.92B
Progress Payments & Other
5.65M 677.4M 580.9M 891.51M 1.57B
Other Current Assets 1.29B 801.38M 827.19M 996.12M 1.29B
Miscellaneous Current Assets
1.01B 52.82M 75.82M 86.65M 96.44M
Total Current Assets 13.57B 13.26B 15.62B 18.38B 24.02B
2010 2011 2012 2013 20145-year trend
Net Property, Plant & Equipment
8.77B 10.58B 11.06B 11.77B 13.36B
Property, Plant & Equipment - Gross
20.57B 24.02B 25.79B 29.01B 13.38B
Buildings 996.05M966.83
M1.68B 1.7B -
Land & Improvements
-679.25
M661.79
M666.21
M666,64
3
Computer Software and Equipment
- - - - -
Other Property, Plant & Equipment
10.4B 12.08B 12.61B 13.87B13.37
B
Accumulated Depreciation
11.8B 13.43B 14.73B 17.24B 17.84M
Total Investments and Advances
1.85B 896.31M 3.89B 4.1B 5.96B
Other Long-Term Investments
1.83B 893.12M 882.16M 773.25M 2.57B
Long-Term Note Receivable 136.85M 136.85M 132.77M 144.46M 168.5M
Intangible Assets 7.02B 8.53B 8.84B 9.1B 9.39B
Net Goodwill 7.02B 6.53B 6.82B 6.82B 6.82B
Net Other Intangibles 0 2B 2.02B 2.28B 2.56B
Other Assets 525.93M 4.52B 1.55B 1.79B 486.35M
Tangible Other Assets 236.78M 4.23B 1.24B 1.47B 76.46M
2010 2011 2012 2013 20145-year trend
Total Assets 32.79B 38.9B 41.79B 46.04B 54.14B
Liabilities & Shareholders' Equity
2010 2011 2012 2013 20145-year trend
ST Debt & Current Portion LT Debt
4.18B 1.68B 4.57B 1.11B 2.58B
Short Term Debt 1.84B 900M 0 0 1.87B
Current Portion of Long Term Debt
2.34B 777.3M 4.57B 1.11B 715.52M
Accounts Payable 3.6B 4.73B 4.72B 6.01B 6.58B
Income Tax Payable 167.75M 154.72M 78.96M 154.74M 181.83M
Other Current Liabilities 5.79B 5.54B 7.25B 8.35B 9.75B
Dividends Payable 103.17M 6.56M 26.17M 29.37M 56.35M
Accrued Payroll 1.22B 994.08M 1.3B 1.52B 1.36B
Miscellaneous Current Liabilities
4.47B 4.54B 5.92B 6.81B 8.34B
Total Current Liabilities 13.74B 12.1B 16.62B 15.62B 19.09B
Long-Term Debt 51.59M 3.94B 854.62M 4.06B 4.43B
Long-Term Debt excl. Capitalized Leases
51.59M 3.94B 854.62M 4.06B 4.43B
Non-Convertible Debt 51.59M3.94
B854.62
M4.06
B4.43
B
2010 2011 2012 2013 20145-year trend
Convertible Debt 0 0 0 0 0
Capitalized Lease Obligations
0 0 0 0 0
Provision for Risks & Charges 242.59M 309.18M 552.08M 963.34M 862.89M
Deferred Taxes (753.03M) (184.84M) (311.08M) (438.04M) (740.59M)
Deferred Taxes - Credit 167.1M 782.77M 374.74M 318.16M 11.38M
Deferred Taxes - Debit 920.14M 967.61M 685.82M 756.2M 751.97M
Other Liabilities 1.31B 1.52B 1.63B 1.7B 1.65B
Other Liabilities (excl. Deferred Income)
1.31B 1.52B 1.63B 1.7B 1.65B
Deferred Income - - 0 0 0
Total Liabilities 15.51B 18.66B 20.04B 22.67B 26.04B
Non-Equity Reserves 0 0 0 0 0
Preferred Stock (Carrying Value) 0 0 0 0 0
Redeemable Preferred Stock 0 0 0 0 0
Non-Redeemable Preferred Stock
0 0 0 0 0
Common Equity (Total) 17.14B 19.54B 21.02B 22.57B 27.21B
Common Stock Par/Carry Value
1.05B 1.05B 1.06B 1.07B 1.08B
Retained Earnings 13.04B 15.17B 12.87B 8.82B 12.45B
ESOP Debt Guarantee 0 0 0 0 0
2010 2011 2012 2013 20145-year trend
Cumulative Translation Adjustment/Unrealized For. Exch. Gain
(317.02M)(187.19
M)(358.47M) 34.9M (28.18M)
Unrealized Gain/Loss Marketable Securities
107.16M 102.63M 102.63M 0 -
Revaluation Reserves 0 0 0 0 0
Treasury Stock (180.51M)(180.51
M)(180.51M)
(180.51M)
(180.51M)
Total Shareholders' Equity 17.14B 19.54B 21.02B 22.57B 27.21B
Accumulated Minority Interest 141.03M 703.69M 733.1M 812.06M 887.69M
Total Equity 17.28B 20.24B 21.75B 23.38B 28.1B
Liabilities & Shareholders' Equity
32.79B 38.9B 41.79B 46.04B 54.14B
Copyright 2015 Fact Set Research Systems Inc. All rights reserved. Source Fact Set Fundamentals.
INCOME STATEMENT
Fiscal year is January-December. All values PHP millions.
2010 2011 2012 2013 20145-year trend
Sales/Revenue 53.37B 62.55B 71.06B 80.28B 90.67B
Cost of Goods Sold (COGS) incl. D&A
43.43B 51.62B 58.66B 65.55B 74.05B
COGS excluding D&A 41.28B 49.03B 55.84B 62.36B 70.87B
Depreciation & Amortization Expense
2.15B 2.58B 2.83B 3.18B 3.19B
Depreciation 1.98B 2.4B 2.7B3.07
B3.15B
Amortization of Intangibles 0 02.45
M3.21
M37.26
M
Gross Income 9.94B 10.94B 12.4B 14.74B 16.62B
2010 2011 2012 2013 20145-year trend
SG&A Expense 5.72B 6.28B 7.21B 7.92B 9.57B
Research & Development - - - - 77.61M
Other SG&A 5.72B 6.28B 7.21B 7.92B 9.49B
Other Operating Expense 625.57M 722.97M 781.97M 894.62M 973.33M
Unusual Expense - 30.5M (282.22M) (122.3M) (471.83M)
EBIT after Unusual Expense - (30.5M) 282.22M 122.3M 471.83M
Non Operating Income/Expense 618.9M 566.81M 167.63M 227.22M 248.12M
2010 2011 2012 2013 20145-year trend
Non-Operating Interest Income 163.08M 179.76M 270.11M 245.57M 242.05M
Equity in Affiliates (Pretax) 0 - - - -
Interest Expense 193.2M 291.34M 206.01M 152.92M 152.47M
Gross Interest Expense 193.2M291.34
M206.01M
152.92M
152.47M
Interest Capitalized 0 0 0 0 0
Pretax Income 4.19B 4.36B 4.91B 6.36B 6.89B
Income Tax 973.4M 1.1B 1.15B 1.52B 1.27B
Income Tax - Current Domestic 1.04B 1.19B 1.28B 1.52B 1.69B
Income Tax - Current Foreign 0 0 - - -
Income Tax - Deferred Domestic
(67.53M) (83.7M)(127.46
M)741,389
(424.24M)
Income Tax - Deferred Foreign 0 0 - - -
Income Tax Credits 0 0 0 0 0
Equity in Affiliates (2.18M) 299,710 (50.95M) (115.56M) (126.17M)
Other After Tax Income (Expense) - - 0 0 0
Consolidated Net Income 3.21B 3.25B 3.71B 4.72B 5.49B
Minority Interest Expense 14.74M 22.14M (15.09M) 51.25M 126.96M
2010 2011 2012 2013 20145-year trend
Net Income 3.2B 3.23B 3.73B 4.67B 5.36B
Extraordinaries & Discontinued Operations
0 0 0 0 0
Extra Items & Gain/Loss Sale Of Assets
0 0 0 0 0
Cumulative Effect - Accounting Chg
0 0 0 0 0
Discontinued Operations 0 0 0 0 0
Net Income After Extraordinaries 3.2B 3.23B 3.73B 4.67B 5.36B
Preferred Dividends 0 0 0 0 0
Net Income Available to Common 3.2B 3.23B 3.73B 4.67B 5.36B
EPS (Basic) 3.12 3.14 3.58 4.45 5.08
Basic Shares Outstanding 1.03B 1.03B 1.04B 1.05B 1.06B
EPS (Diluted) 3.08 3.10 3.51 4.36 4.96
Diluted Shares Outstanding 1.04B 1.04B 1.06B 1.07B 1.08B
EBITDA 5.75B 6.52B 7.23B 9.1B 9.26B
Copyright 2015 Fact Set Research Systems Inc. All rights reserved. Source Fact Set Fundamentals