Account TITLES (amounts-in millions) 2016 2015

Example 10 5
SALES 343840 360178
COST OF GOODS SOLD 306125 328438
GROSS PROFIT 37715 31740
SELLING AND ADMINISTRATIVE EXPENSES -13918 -13606
INTEREST EXPENSE AND OTHER FINANCING CHARGES -7557 -5533
INTEREST INCOME 507 686
SHARE IN NET INCOME OF AN ASSOCIATE 66 133
OTHER INCOME (EXPENSES) -net -2435 -3495
INCOME BEFORE TAX 14378 9925
TAX EXPENSE 3556 3655
NET INCOME 10822 6270

ASSETS
Current
Cash and Cash Equivalents 17332 18881
Financial Assets at FV thru P/L 221 509
Available for sale financial assets 71 233
Trade and other receivables - net 31548 30749
Inventories 44147 30823
Other Current Assets 32499 34530
TOTAL CURRENT ASSETS 125818 115725
Noncurrent
Available for sale financial assets 408 388
Property, plant and equipment - net 176604 161597
Investment in shares of stock of an associate 1883 1814
Investment property - net 91 112
Deferred tax assets -net 194 211
Goodwill - net 7480 7694
Other noncurrent assets -net 6415 6726
TOTAL NON CURRENT ASSETS 193075 178542
TOTAL ASSETS 318893 294267

LIABILITIES
Current
Short term loans 90336 99481
Liabilities for crude oil and petroleum products 29966 16271
Trade and other payables 16161 9347
Derivative liabilites 778 603
Income tax payable 626 183
Current portion of long term debt - net 20911 694
TOTAL CURRENT LIABILITIES 158808 126579
Noncurrent
Long-term debt - net of current portion 58941 71726
Retirement benefits liability 3315 5509
Deferred tax liabilities - net 5726 4638
Asset retirement obligation 2324 1809
Other noncurrent liabilities 959 906
TOTAL NON CURRENT LIABILITIES 71265 84588
TOTAL LIABILITIES 230073 211167
EQUITY ATTRIBUTABLE TO EQUITY HOLDERS(PARENT)
Capital Stock 9485 9485
Additional paid-in capital 19653 19653
Undated ssubordinated capital securities 30546 30546
Retained Earnings 42011 41712
Equity Reserves -7204 -8767
Treasury Stock -10000 -10000
Non controlling interest* 4329 471
TOTAL EQUITY 88820 83100
TOTAL LIABILITIES AND EQUITY 318,893 294267
 2014 Peso Change '15 to '16 Peso Change '14 to '15 Percentage Change '15 to '16
4 5 1 100.000
482535 -16338 -122357 -4.536
463100 -22313 -134662 -6.794
19435 5975 12305 18.825
-11830 -312 -1776 2.293
5528 -2024 -11061 36.581
844 -179 -158 -26.093
102 -67 31 -50.376
790 1060 -4285 -30.329
3813 4453 6112 44.866
804 -99 2851 -2.709
3009 4552 3261 72.600

90602 -1549 -71721 -8.204

1632 -288 -1123 -56.582
430 -162 -197 -69.528
48339 799 -17590 2.598
53180 13324 -22357 43.227
24846 -2031 9684 -5.882
219029 10093 -103304 8.722

451 20 -63 5.155

153650 15007 7947 9.287
1162 69 652 3.804
113 -21 -1 -18.750
242 -17 -31 -8.057
8921 -214 -1227 -2.781
7756 -311 -1030 -4.624
172295 14533 6247 8.140
391324 24626 -97057 8.369

133388 -9145 -33907 -9.193

24032 13695 -7761 84.168
39136 6814 -29789 72.900
98 175 505 29.022
73 443 110 242.077
5860 20217 -5166 2913.112
202587 32229 -76008 25.462

66269 -12785 5457 -17.825

 2273 -2194 3236 -39.826
3471 1088 1167 23.458
1659 515 150 28.469
1373 53 -467 5.850
75045 -13323 9543 -15.750
277632 18906 -66465 8.953

9485 0 0 0.000
19635 0 18 0.000
30546 0 0 0.000
40815 299 897 0.717
-3167 1563 -5600 -17.828
0 0 -10000 0.000
16360 3858 -15889 819.108
113692 5720 -30592 6.883
391324 24626 -97057 8.369
Percentage Change '14 to '15 Percentage Change based on Base Year(2014) 2016
25.000 150.000
-25.357 -28.743
-29.078 -33.897
63.314 94.057
15.013 17.650
-200.090 -236.704
-18.720 -39.929
30.392 -35.294
-542.405 -408.228
160.294 277.078
354.602 342.289
108.375 259.654

-79.161 -80.870
-68.811 -86.458
-45.814 -83.488
-36.389 -34.736
-42.040 -16.986
38.976 30.802
-47.165 -42.556

-13.969 -9.534
5.172 14.939
56.110 62.048
-0.885 -19.469
-12.810 -19.835
-13.754 -16.153
-13.280 -17.290
3.626 12.061
-24.802 -18.509

-25.420 -32.276
-32.294 24.692
-76.117 -58.706
515.306 693.878
150.685 757.534
-88.157 256.843
-37.519 -21.610

8.235 -11.058
142.367 45.842
33.621 64.967
9.042 40.084
-34.013 -30.153
12.716 -5.037
-23.940 -17.130

0.000 0.000
0.092 0.092
0.000 0.000
2.198 2.930
176.823 127.471
#DIV/0! #DIV/0!
-97.121 -73.539
-26.908 -21.877
-24.802 -18.509
Percentage Change based on Base Year(2014) 2015
25.000
-25.357
-29.078
63.314
15.013
-200.090
-18.720
30.392
-542.405
160.294
354.602
108.375

-79.161
-68.811
-45.814
-36.389
-42.040
38.976
-47.165

-13.969
5.172
56.110
-0.885
-12.810
-13.754
-13.280
3.626
-24.802

-25.420
-32.294
-76.117
515.306
150.685
-88.157
-37.519

8.235
142.367
33.621
9.042
-34.013
12.716
-23.940

0.000
0.092
0.000
2.198
176.823
#DIV/0!
-97.121
-26.908
-24.802