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HORIZONTAL ANALYSIS
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION As at December 31,2016 and 2015 (in million pesos)
ASSETS 2016 2015 AMOUNT PERCENT
Noncurrent Assets
Property and Equipment 203,188 195,782 7,406 3.78%
Investment in Associates and Joint Ventures 56,858 48,703 8,155 16.74%
Available-for-sale financial investment 12,189 15,711 -3,522 -22.42%
Investment in debt securities and other long-term investment- net of current portion 374 952 -578 -60.71%
Investment properties 1,890 1,825 65 3.56%
Goodwill and intangible assets 70,280 72,117 -1,837 -2.55%
Deferred income tax assets-net 27,348 21,941 5,407 24.64%
Derivative financial assets- net of current portion 499 145 354 244.14%
Prepayments- net of current portion 7,056 3,475 3,581 103.05%
Advances and other noncurrent assets- net of current portion 9,473 3,003 6,470 215.45%
Total NonCurrent Assets 389,155 363,654 25,501 7.01%
Current Assets
Cash and cash equivalents 38,722 46,455 -7,733 -16.65%
Short-term investments 2,738 1,429 1,309 91.60%
Trade and other receivables 24,436 24,898 -462 -1.86%
Inventories and supplies 3,744 4,614 -870 -18.86%
Current portion of derivative financial assets 242 26 216 830.77%
Current portion of investment in debt securities and other long-term investments 326 51 275 539.22%
Current portion of prepayment 7,505 5,798 1,707 29.44%
Current portion of advances and other noncurrent assets 8,251 8,170 81 0.99%
Total Current Assets 85,964 91,441 -5,477 -5.99%
TOTAL ASSETS 475,119 455,095 20,024 4.40%
Noncurrent Liabilities
Interest-bearing financial liabilities-net of current portion 151,759 143,982 7,777 5.40%
Deferred income tax liabilities-net 3,567 3,704 -137 -3.70%
Derivative financial liabilities-net of current portion 2 736 -734 -99.73%
Customers' deposits 2,431 2,430 1 0.04%
Pension and other employee benefits 11,206 10,197 1,009 9.90%
Deferred credits and other noncurrent liabilities 15,604 21,482 -5,878 -27.36%
Total Noncurrent Liabilities 184,569 182,531 2,038 1.12%
Current Liabilities
Accounts payable 52,950 52,679 271 0.51%
Accrued expenses and other current liabilities 92,219 84,286 7,933 9.41%
Current portion of interest-bearing financial liabilities 33,273 16,911 16,362 96.75%
Provision for claims and assessments 897 879 18 2.05%
Dividends payable 1,544 1,461 83 5.68%
Current portion of derivative financial liabilities 225 306 -81 -26.47%
Income tax payable 905 2,126 -1,221 -57.43%
Total Current Liabilities 182,013 158,666 23,347 14.71%
TOTAL LIABILITIES 366,582 341,197 25,385 7.44%
TOTAL EQUITY AND LIABILITIES 475,119 455,095 20,024 4.40%
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME For the Years Ended December 31, 2016 and 2015 (in million pesos)
2016 2015 AMOUNT PERCENT
REVENUES
Service revenues 157,210 162,930 -5,720 -3.51%
Non-service revenues 8,052 8,173 -121 -1.48%
TOTAL Revenues 165,262 171,103 -5,841 -3.41%
EXPENSES
Depreciation and amortization 34,455 31,519 2,936 9.32%
Compensation and employee benefits 19,928 21,606 -1,678 -7.77%
Cost of Sales 16,753 16,389 364 2.22%
Repairs and maintenance 15,212 15,035 177 1.18%
Asset impairment 11,042 9,690 1,352 13.95%
Interconnection costs 9,573 10,317 -744 -7.21%
Professional and other contracted services 9,474 8,234 1,240 15.06%
Selling and promotions 7,687 9,747 -2,060 -21.13%
Rent 6,912 6,376 536 8.41%
Taxes and Licenses 3,782 4,592 -810 -17.64%
Insurance and security services 1,739 1,797 -58 -3.23%
Communication, training and travel 1,253 1,349 -96 -7.12%
Amortization of intangible assets 929 1,076 -147 -13.66%
Cost of content 576 225 351 156.00%
Other expenses 1,244 1,316 -72 -5.47%
TOTAL Expenses 140,559 139,268 1,291 0.93%
NET Revenues (Expenses) 24,703 31,835 -7,132 -22.40%
OTHER INCOME (EXPENSES)
Equity share in net earnings of associates and joint ventures 1,181 3,241 -2,060 -63.56%
Interest Income 1,046 799 247 30.91%
Gains (losses) on derivative financial instruments - net 996 420 576 137.14%
Foreign exchange losses - net -2,785 -3,036 251 -8.27%
Financing costs - net -7,354 -6,259 -1,095 17.49%
Other income (expenses) - net 4,284 -362 4,646 -1283.43%
TOTAL Other Income (Expenses) -2,632 -5,197 2,565 -49.36%
INCOME BEFORE INCOME TAX 22,071 26,638 -4,567 -17.14%
PROVISION FOR INCOME TAX 1,909 4,563 -2,654 -58.16%
ATTRIBUTABLE TO:
Equity holders of PLDT 20,006 22,065 -2,059 -9.33%
Noncontrolling interests 156 10 146 1460.00%
NET INCOME 20,162 22,075 -1,913 -8.67%