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MERALCO

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION


AS OF DECEMBER 31, 2015 AND 2014
(IN MILLION PESOS)
ASSETS
Noncurrent Assets
Utility plant and others
Investments in associates and interests in joint ventures
Investment properties
Deferred tax assets - net
Other non-current assets
Total Noncurrent Assets
Current Assets
Cash and cash equivalents
Trade and other receivables
Inventories
Other current assets
Total Current Assets
TOTAL ASSETS
EQUITY AND LIABILITIES
Equity atrributable to equity holders of the parent
Common stock
Subscriptions receivable
Additional paid-in capital
Excess of acquisition costs over carrying value of noncontrolling interest acquired
Employee stock purchase plan
Unrealized fair value gains on available-ffor-sale financial assets
Cummulative translation adjustments of subsidiaries and associates
Share in remeasurement adjustments on associates' retirement liabilities
Remeasurement adjustments on retirement and other post-employment
liabilities
Treasury shares
Retained earnings:
Appropriated
Unappropriated
Equity attributable to equity holders of the parent
Non-controlling interests
TOTAL EQUITY
Noncurrent Liabilities

Interest-bearing long-term financial liabilities-net of current portion


Customers' deposits-net of current portion
Long-term employee benefits
Provisions
Refundable service extension costs-net of current portion
Deferred tax liabilities - net
Other noncurrent liabilities
TOTAL NONCURRENT LIABILITIES
Current Liabilities
Notes payable
Trade payables and other current liabilities
Customers' refund
Income tax payable
Current portion of long-term employee benefits
Current portion of interest-bearing long-term financial liabilities
TOTAL CURRENT LIABILITIES
TOTAL LIABILITIES
TOTAL LIABILITIES AND EQUITY

MERALCO
CONSOLIDATED STATEMENTS OF INCOME
AS OF DECEMBER 31, 2015 AND 2014
(IN MILLION PESOS)

REVENUES
Sale of electricity
Sale of other services
TOTAL REVENUES
COSTS AND EXPENSES
Purchased power
Salaries, wages and employee benefits
Provision for probable losses and expenses from claims
Depreciation and amortization
Contracted services
Provision for doubtful accounts -net
Taxes, fees and permits
Other expenses
TOTAL COST AND EXPENSES

OTHER INCOME (EXPENSES)


Interest and other financial income
Interest and other financial charges
Foreign exchange gains
Equity in net earnings (losses) of associates and joint ventures
Derivative mark-to-market losses
Others
TOTAL OTHER INCOME (EXPENSES)
INCOME BEFORE INCOME TAX
PROVISION FOR (BENEFITS FROM) INCOME TAX
Current
Deferred
TOTAL PROVISION
NET INCOME

2015

2014

124,913
13,603
1,538
11,296
35,594
186,944

120,830
14,532
1,526
7,089
12,464
156,441

50,840
26,761
2,273
15,421
95,295
282,239

69,469
30,629
2,212
10,302
112,612
269,053

11,273
4,111

11,273
(8)
4,111

(328)
1,049
102
(72)
(12)

(328)
1,049
112
355
(20)

935
(11)

1,302
(11)

11,000
52,229
80,276
585
80,861

11,000
50,319
79,154
320
79,474

27,370
23,584
3,620
21,014
4,234
17
28,324
108,163

27,743
24,344
4,887
16,073
7,006
5
25,993
106,051

1,043
79,557
5,550
1,883
3,287
1,895
93,215
201,378
282,239

400
73,624
5,937
1,668
1,899
83,528
189,579
269,053

2015

2014

249,773
8,626
258,399

261,740
4,596
266,336

192,117
12,420
11,628
6,910
4,668
502
595
6,151
234,991

203,242
11,008
10,720
6,093
4,292
460
662
3,765
240,242

1,538
(1,216)
367
(27)
806
1,468
24,876

770
(1,439)
8
295
740
374
26,468

9,732
(4,045)
5,687

9,961
(1,624)
8,337

19,189

18,131

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