ABS CBN Network Corporation

ABS
CBN Network
Corporation
Consolidated
Statement
of Financial Position
Consolidated Statement
of Financial
(Amount
Change) Position
Current
Liabilities
Equity
Attribute
to Equity
Holders of the Parent
(Vertical)
Trade and other payables
14,941,690
12,788,120
11,332,006
2,153,570
1,456,114
Company
Amount change
(notes 17, 23 and 30)
Vertical
(Percent)
Capital Stock (note 22)
2015
2014
2013
2015-2013
2014-2013
IncomeAssets
tax payable
276,374
292,053
193,216
(15,679)
98,837
2015
2014
2013
2015
2014
2013
Common
872,124
872,124
872,124
0
0
Assets
Current
Assets rights
Obligation
for program
498,905
724,266
448,861
(225,361)
275,405
Current
Assets
(note 19)
Cash and Cash Equivalents
Preferred
200,000
02,621,522
11,537,559200,000
13,238,377 200,000
10,616,855 0 (1,700,818)
(Note
6)
Cash and
Cash
11,537,559
13,238,377 10,616,855
16.38
19.69
18.20
Interest
bearing
loans
and
404,794
110,751
1,345,471
294,043
(1,234,720)
Trade
and
other
Receivable
Additional
paid-in
capital
4,711,050
4,495,050
4,495,050
216,000
0
Equivalents (Note 6)
11,561,147
10,717,317
8,333,761
843,830
2,383,556
borrowings
(722)
note
(note
and
(and
Note
and 10,
23) 11
Trade2,4
other
11,561,147
10,717,317
8,333,761
16.42
15.94
14.29
and 18)
Inventories
672,501
544,362
265,221
128,139
279,141
Receivable
( Note 7
Program
rights and
Exchange
differences
on other (466,159)
(456,773)
(270,632)
(9,386)
(186,141)
and 23)
Total
Current
Liabilities
16,121,763
13,319,554
2,206,573
595,636
959,411 13,915,190
1,183,184
1,385,972
(223,773)
(202,788)
translation
of foreign
intangible
assets (Notes 12) 672,501
Inventories
544,362
265,221
0.95
0.81
0.45
operations
Other
Current
Assets
Program rights and other
959,411
1,183,184
1,385,972
1.36
1.76
2.38
(
Notes
9)
3,890,024
3,124,952
3,046,886
765,072
78,066
Unrealized
gain
on
176,009
143,281
121,766
32,728
21,515
intangible assets
Non-current
Liabilities
available
for sale
(Notes 12)
Interest
bearing
loans
and
20,125,519
13,334,579
6,879,905
Total
Current
investment
(note
13) Assets
30,238,188 20,214,484
28,808,192 3,046,886
23,383,474 5.52(88,965)
1,429,996
Other Current Assets
3,890,024
3,124,952
4.65 5,424,718
5.22
borrowings net of current
(Notes
9)
share based payment plan
34,349
34,349
34,349
0
0
portion
( note 10, 11Assets
and 18)
Non-Current
(note
Total 22)
Current
Assets
30,238,188
28,808,192 23,383,474
42.94
42.85
40.09
Retained
earnings
Note
23,922,847
21,363,395
19,817,957
2,559,452
1,545,438
Property
and
Equipment
9
Obligation for program rights
172,600
276,344
(51,872)
(51,872)
21,798,053 224,472
20,572,543
18,535,905
1,225,510
2,036,638
22)
(Notes
10,
18
and
31)
Non-current
Assets
(note 19) Depository
Philippine
(1,264,096)
(1,164,146)
(374,623)
(99,950)
Program rights and other(1,638,719)
receipt
Property
convertible
and
Equipment
to
9
21,798,053
20,572,543
18,535,905
30.95
30.60
31.78
Accrued
pensionassets-net
obligation of
4,047,559
4,191,082
(743,254)
599,731
intangible
7,041,430 4,790,813
6,598,402
5,429,192
443,028
1,169,210
common
share
(note
22)
(Notes
10,employee
18 and 31)
and other
current
portionbenefits
(Note 12)
Program
rights
and
other
7,041,430
6,598,402
5,429,192
10.00
9.81
9.31
Goodwill
(Notes
(notes
30)
5,301,526
5,289,95624,106,468
5,288,3502,424,171
11,570 1,280,862
1,606
Equity attributable to 16)
27,811,501
25,387,330
intangible
assets-net
of
Deferred
tax liabilities
net
618,856
587,654
637,533
31,202
(49,879)
Available
equity
holders
offor
thesales
275,096
242,368
219,191
32,728
23,177
current
portion
(Note
12)
(note
29)
parent investment
(notes 4 and
24) 13)
(Note
Goodwill
(Notes
5,289,956
5,288,350
7.5314,709 7.87
9.07
Convertible
note 16)
(note
20) (Note5,301,526
205,231
190,522
245,195
(54,673)
Investment
Properties
200,801
198,734
196,916
2,067
1,818
Available
for sales
275,096
242,368
219,191
0.39
0.36
0.38
11 and
18)
Non-controlling
Interest
903,825
1,487,498
1,816,289
Other Non-current
Liabilities
417,250
438,857
402,772 (583,673)
(21,607) (328,791)
36,085
investment
(Note
13)
(notes
421)
and 24) in associates
(notes Investment
523,733
199,874
166,591 0.29 323,8590.30
33,283
Investment
Properties
198,734
196,916
0.34
and joint
ventures (Note 14) 200,801
(Note
11 and 18)
Deferred
Tax liabilities
assets-net 25,587,015
Total Equity
Non-current
26,446,802
19,087,505
(859,787)
7,359,297
Total
28,715,326
26,874,828
2,891,139
2,858,18725,922,757
2,530,1641,840,498
32,952 952,071
328,023
Investment
associates
523,733
199,874
166,591
0.74
0.30
0.29
(Notein29)
Other
Non-current
assets
and
joint
ventures
(Note
Total Liabilities
Liabilities and
41,708,778 67,236,820
40,361,992 58,329,816
32,407,059 3,187,284
1,346,786 8,907,004
7,954,933
Total
70,424,104
2,154,138
2,468,564
2,580,033
(314,426)
(111,469)
14) (Note 15)
Equity
Deferred Tax assets-net
2,891,139
2,858,187
2,530,164
4.11
4.25
4.34
Total Non-current Assets
3,482,286
(Note 29)
40,185,916
38,428,628
34,946,342
1,757,288
Other Non-current Assets
2,154,138
2,468,564
2,580,033
3.06
3.67
4.42
Total Assets
70,424,104
67,236,820
58,329,816
3,187,284
8,907,004
(Note 15)
Total Non-current Assets
40,185,916
38,428,628 34,946,342
57.06
57.15
59.91
Liabilities and Equity

Total Assets

70,424,104

67,236,820

58,329,816

Liabilities and Equity

Current Liabilities
Trade and other payables
(notes 17, 23 and 30)

14,941,690

12,788,120

11,332,006

21.22

19.02

19.43

Income tax payable

276,374

292,053

193,216

0.39

0.43

0.33

Obligation for program rights

(note 19)

498,905

724,266

448,861

0.71

1.08

0.77

404,794

110,751

1,345,471

0.57

0.16

2.31

16,121,763

13,915,190

13,319,554

22.89

20.70

22.83

Common

872,124

872,124

872,124

1.24

1.30

1.50

Preferred
Interest bearing loans and
borrowingspaid-in
net ofcapital
current
Additional
portion
( note
10, 11 and 18)
(note
2,4
and 22)

200,000

200,000

200,000

0.28

0.30

0.34

4,711,050
20,125,519

4,495,050
20,214,484

(466,159)

(456,773)

Interest bearing loans and

borrowings ( note 10, 11 and
18)
Equity Attribute to Equity
Total Current
Liabilities
Holders
of the Parent
Company
Non-current Liabilities
Capital Stock (note 22)

Exchange differences on
Obligation for program rights
translation of foreign
(note 19)
operations
Unrealized gain on available
Accrued pension obligation and
for sale investment (note 13)
other employee benefits (notes
30)
share based payment plan
(note
22) tax liabilities net (note
Deferred
29)
Retained earnings Note 22)

172,600
176,009

224,472
143,281

4,495,050
13,334,579
(270,632)
276,344

6.69
6.69
28.58
30.06 22.86
(0.66)
0.25

121,766

0.33
0.25

(0.46)

0.47
0.21

0.21

4,047,559
34,349

4,790,813
34,349

4,191,082
34,349

5.75

7.19
0.05

0.06

618,856
23,922,847

587,654
21,363,395

637,533
19,817,957

0.8833.970.87 31.77
1.09

33.98

Convertible note (note 20)

Philippine Depository receipt
convertible
to common
share
Other Non-current
Liabilities
(note
(notes22)
21)

205,231
(1,638,719)

190,522
(1,264,096)

245,195
(1,164,146)

0.29
0.28
0.42
(2.33)
(1.88)

(2.00)

417,250

438,857

402,772

0.59

Equity attributable to equity

holders of the parent (notes
Liabilities
4Total
and Non-current
24)

27,811,501

25,387,330

25,587,015

26,446,802

19,087,505

36.33

39.33

32.72

Total Liabilities

41,708,778

40,361,992

32,407,059

59.23

60.03

55.56

903,825

1,487,498

1,816,289

1.28

2.21

0.03

Total Equity

28,715,326

26,874,828

25,922,757

40.77

39.97

44.44

Total Liabilities and Equity

70,424,104

67,236,820

58,329,816

Non-controlling interest
(notes 4 and 24)

24,106,468

0.05

7.13

(0.68)

7.71

0.65

39.49

0.69
37.76

41.33

ABS CBN Network Corporation

Consolidated Statement of Financial Position
(Horizontal)
Horizontal
2015

2014

2013

2015-2014

2014-2013

Cash and Cash Equivalents

(Note 6)

11,537,559

13,238,377

10,616,855

(12.85)

24.69

Trade and other Receivable

( Note 7 and 23)

11,561,147

10,717,317

8,333,761

7.87

28.60

Inventories

672,501

544,362

265,221

23.54

105.25

Program rights and other

intangible assets (Notes 12)

959,411

1,183,184

1,385,972

(18.91)

(14.63)

Other Current Assets ( Notes

9)

3,890,024

3,124,952

3,046,886

24.48

2.56

Total Current Assets

30,238,188

28,808,192

23,383,474

4.96

23.20

12,788,120
20,572,543

11,332,006
18,535,905

16.84
5.96

12.85
10.99

292,053
6,598,402
724,266

193,216
5,429,192
448,861

(5.37)
6.71
(31.12)

51.15
21.54
61.36

5,289,956

5,288,350

Assets
Current Assets

Liabilities and Equity

No-current
Assets
Current
Liabilities
Property
andpayables
Equipment
9 17,
Trade
and other
(notes
14,941,690
21,798,053
(Notes
10,
18
and
31)
23 and 30)
Program rights and other
Income tax payable
276,374
intangible assets-net of
7,041,430
currentfor
portion
(Note
12)(note
Obligation
program
rights
498,905
19) Goodwill (Notes 16)
5,301,526

0.22

0.03

Interest
bearing
Available
forloans
salesand
borrowings
( note
10,13)
11 and 18)
investment
(Note

404,794
275,096

110,751
242,368

1,345,471
219,191

265.50
13.50

(91.77)
10.57

Investment Properties (Note

11 and 18)
Total current liabilities

200,801
16,121,763

198,734
13,915,190

196,916
13,319,554

1.04
15.86

0.92
4.47

523,733

199,874

166,591

162.03

19.98

(0.44)

51.59

Investment in associates and

joint ventures
(Note 14)
Non-current
liabilities
Interest bearing loans and
Deferrednet
Tax
borrowings
of assets-net
current portion
(Note
( note
10, 29)
11 and 18)
Other Non-current Assets
(Note 15)
Obligation
for program rights
Total Non-current
Assets
(note 19)
Total Assets
Accrued pension obligation and
other employee benefits (notes 30)

20,125,519

20,214,484

13,334,579

2,891,139

2,858,187

2,530,164

1.15

12.96

2,154,138

2,468,564

2,580,033

(12.74)

(4.32)

172,600
40,185,916

224,472
38,428,628

276,344
34,946,342

(23.11)
4.57

(18.77)
9.96

70,424,104
4,047,559

67,236,820
4,790,813

58,329,816
4,191,082

(15.51)

14.31

Deferred tax liabilities net (note 29)

618,856

587,654

637,533

5.31

(7.82)

Convertible note (note 20)

205,231

190,522

245,195

7.72

(22.30)

Other Non-current Liabilities (notes

21)
Equity Attribute to Equity Holders
Total Non-current Liabilities
of the Parent Company

417,250

438,857

402,772

(4.92)

8.96

25,587,015

26,446,802

19,087,505

(3.25)

38.56

41,708,778
872,124

40,361,992
872,124

32,407,059
872,124

3.34
0.00

24.55
0.00

200,000

200,000

200,000

0.00

0.00

4,711,050

4,495,050

4,495,050

4.81

0.00

Exchange differences on
translation of foreign operations

(466,159)

(456,773)

(270,632)

2.05

68.78

Unrealized gain on available for

sale investment (note 13)

176,009

143,281

121,766

22.84

17.67

Share based payment plan (note

22)

34,349

34,349

34,349

0.00

0.00

23,922,847

21,363,395

19,817,957

11.98

7.80

(1,638,719)

(1,264,096)

(1,164,146)

29.64

8.59

27,811,501

25,387,330

24,106,468

9.55

5.31

903,825

1,487,498

1,816,289

(39.24)

(18.10)

28,715,326

26,874,828

25,922,757

6.85

3.67

70,424,104

67,236,820

58,329,816

Capital Stock (note 22)

Total Liabilities
Common
Preferred
Additional paid-in capital (note 2,4
and 22)

Retained earnings Note 22)

Philippine Depository receipt
convertible to common share
(note 22)
Equity attributable to equity
holders of the parent (notes 4 and
24)
Non-controlling interest (notes 4
and 24)
Total Equity
Total Liabilities and Equity

ABS-CBN Network Corp.

Consolidated Statement of Income

2015

2014

2013

Advertising revenue (Note 22)

21,264,714

18,879,946

19,331,908

Sale of services (Note 30)

15,148,219

14,173,204

13,287,245

Sale of goods (Note 22)

1,734,397

351,528

579,140

130,785

138,950

179,611

38,278,115

33,543,628

33,377,904

PRODUCTION COSTS(Notes9, 11, 22, 24, 29

and 30)

(11,434,166)

(11,007,656)

(11,499,365)

COST OF SERVICES(Notes 8,9, 11, 14, 22, 25,

29 and 30)

(9,941,758)

(9,045,527)

(8,853,440)

COST OF SALES(Notes 8,9, 22, 25, 29 and 30)

(1,532,200)

(201,993)

(330,029)

GROSS PROFIT

15,369,991

13,288,452

12,695,070

GENERAL AND ADMINISTRATIVE

EXPENSES(Notes 7, 8, 9, 10, 11, 21, 22, 26, 29
and 30)

(11,777,634)

(10,113,904)

(9,614,356)

FINANCE COSTS (Note 17, 19 and 27)

(811,787)

(1,165,313)

(816,919)

INTEREST INCOME(Notes6and 22)

169,270

153,968

94,438

FOREIGN EXCHANGE GAINS(LOSSES)-net

123,881

(31,704)

(145,500)

EQUITY IN NET EARNINGS (LOSSES) OF

ASSOCIATES AND JOINT VENTURES (Note 13)

(1,141)

3,283

(12,397)

OTHER INCOME- net (Notes 14, 19, 27 and 30)

256,796

652,352

512,322

3,329,376

2,787,134

2,712,658

784,242

756,998

684,311

2,545,134

2,030,136

2,028,347

Equity holders of the Parent Company (Note 33)

2,931,777

2,387,085

2,145,725

Non-controlling Interests
Basic/Diluted Earnings per Share Attributable to
Equity Holders of the Parent Company(Note 33)

(386,643)

(356,949)

(117,378)

3.56

2.87

2.68

REVENUE

Others

INCOME BEFORE INCOME TAX

PROVISION FOR INCOME TAX(Note 28)
NET INCOME
Attributable to:

ABS-CBN Network Corp.

Consolidated Statement of Comprehensive Income

NET INCOME

2015

2014

2013

2,545,134

2,030,136

2,028,347

OTHER COMPREHENSIVE INCOME (LOSS)

Other comprehensive income (loss) to be reclassified to profit and loss in subsequent periods:
Remeasurement gain (loss) on defined benefit plan (Note 30)

226,935

(478,239)

639,129

Income tax effect

(64,945)

143,472

(191,739)

161,990

(334,767)

447,390

Exchange differences on translation of foreign operations

(9,386)

(186,141)

367,657

Unrealized fair value gain on AFS investments - net (Note 13)

32,728

21,515

(4,910)

23,342

(164,626)

362,747

185,332

(499,393)

810,137

2,730,466

1,530,743

2,838,484

1,895,412

2,906,433

(366,680)
2015
2,730,466

(364,669)
2014
1,530,743

(67,949)
2013
2,838,484

3,329,376

2,787,134

2,712,658

3,022,249

2,871,000

2,714,199

1,677,088

1,327,894

1,430,811

Debt issue costs (Note 28)

34,687

122,975

73,421

Deferred charges (Note 26)

34,484

69,617

52,871

Interest expense (Note 28)

Movement in accrued pension obligation and other employee
benefits (Note 30)
Interest income (Notes 6 and 23)

762,463

845,478

716,894

655,634

531,092

973,130

(169,270)

(153,968)

(94,438)

Net unrealized foreign exchange loss (gain)

71,665

(69,427)

2,836

Loss (gain) on sale of property and equipment notes( 10 and 28)

(11,687)

4,167

5,688

Other comprehensive income (loss) to be reclassified to profit

to be reclassified to profit and loss in subsequent periods:

OTHER COMPREHENSIVE INCOME (LOSS)

TOTAL COMPREHENSIVE INCOME

Attributable to:

ABS-CBN CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

3,097,146
Equity holders of the Parent Company
Non-controlling interests

CASH FLOWS FROM OPERATING ACTIVITIES

Income before income tax
Adjustments for:
Depreciation and amortization (Notes 10 and 11)
Amortization of:
Program rights and other intangibles (Note 12)

Equity in net losses (earnings) of associates and joint ventures

(Note 14)
Gain on settlement of liabilities (Note 28)

1,141

(3,283)

12,397

(444,826)

(13,910)

Impairment loss (Note 16)

20,061

Share-based payment expense (Note 22)

5,397

9,407,830

8,612,015

364,874

530,573

432,094

(1,565,148)

(2,886,288)

(814,390)

Inventories

(122,722)

(278,981)

(46,742)

Other current assets

(638,789)

(347,574)

111,917

Trade and other payables

1,680,860

985,677

356,911

Other noncurrent liabilities

(1,018,054)

(371,221)

(5,461)

Obligations for program rights

(278,495)

225,297

239,177

Cash generated from operations

7,830,356

5,745,336

8,885,521

Income taxes paid

(261,994)

(912,745)

(830,461)

Net cash provided by operating activities

7,568,362

4,832,591

8,055,060

Income before working capital changes

Provisions for doubtful accounts (Note 27)
Decrease (increase) in:
Trade and other receivables

Increase (decrease) in:

CASH FLOWS FROM INVESTING ACTIVITIES

Additions to:
Short-term investment

(1,617,546)

Property and equipment (Note 10)

(4,743,809)

(4,991,980)

(3,727,670)

Program rights and other intangible assets (notes 12 and 35)

(1,927,825)

(1,433,238)

(1,772,969)

(2,508)

519,328

96,580

24,629

(291,405)

(30,000)

(137,962)

Increase (decrease) in other noncurrent assets

129,281

(194,505)

(97,296)

Interest received

155,818

140,660

97,881

(7,776,158)

(6,414,991)

(5,613,387)

300,000

850,000

8,576,439

2,000,000

Dividends

(493,717)

(498,950)

(298,066)

Interest

(742,242)

(983,203)

(744,937)

Long-term debt (Notes 18 and 28)

(178,510)

(2,372,139)

(115,722)

Obligations under finance lease

(25,154)

(29,549)

(37,551)

(400,000)

(3,850,000)

(374,623)

(99,950)

Investment properties (Notes 11 and 35)

Proceeds from sale of property and equipment
Investments in joint ventures and associates (Note 14)

Net cash used in investing activities

CASH FLOWS FROM FINANCING ACTIVITIES

Proceeds from:
Bank loans (Note 18)
Long-term debt
Payments of:

Bank loans (Notes 18 and 28)

Acquisition of treasury shares and Philippine depository receipts
(note 22)
Proceeds from additional investment

Issuances of:
Common shares (Note 22)

3,939,501

Preferred shares (Note 22)

200,000

Decrease in non -controlling interests

(185,893)

(1,514,246)

4,228,526

1,757,332

21,224

(24,604)

22,912

(1,700,818)

2,621,522

4,221,917

CASH AND CASH EQUIVALENTS AT THE BEGINNING OF YEAR

13,238,377 1

10,616,855

6,394,938

CASH AND CASH EQUIVALENTS AT THE END OF YEAR (Note 6)

11,537,559

13,238,377

10,616,855

Net cash provided by (used in) financing activities

EFFECTS OF EXCHANGE RATE CHANGES AND TRANSLATION
ADJUSTMENTS ON CASH AND CASH EQUIVALENTS
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS

GMA NETWORK INCORPORATION

CONSOLIDATED STATEMENT OF FINANCIAL POSITION
(Amount Change)
Amount Change
2015-2014
2014-2013

2015

2014

2013

2,160,298,125

1,598,825,520

1,749,631,196

561,472,605

(150,805,676)

4,384,198,602

468,376,682

3,521,430,443

3,915,821,920

(3,053,053,761
)

1,192,607,228

1,198,270,709

1,209,229,281

(5,663,481)

(10,958,572)

1,069,029,207

785,435,141

635,093,804

283,594,066

150,341,337

8,806,133,162

8,220,907,972

7,123,258,729

585,225,190

1,097,649,243

(26,432,472)

26,432,472

Assets
Current Assets
Cash and Cash
equivalents(Notes 6 and
30)
Trade and other
receivables(Notes 7,20
and 30)
Program and other
rights(Note 8)
Prepaid expenses and
other current assets
(Note 9)

Asset classified as held for sale (Note 15)

Total Current Assets
Noncurrent Assets
Available-for-sale financial
assets (Notes 10,30 and
31)
Investments and
advances (Notes 11 and
20)
Property and equipment;
At cost (Note 12)
AT Revalued amounts
(Note 13)
Investment properties
(Notes 14 and 31)
Deferred income tax
assets-net (Note 28)
Other noncurrent assets
(Notes 15, 30 and 31)
Total Noncurrent Assets
TOTAL ASSETS

26,432,472

8,806,133,162

8,247,340,444

7,123,258,726

558,792,718

1,124,081,718

191,116,881

129,024,081

135,552,548

62,092,800

(6,528,467)

147,652,576

147,937,544

139,463,938

(284,968)

8,473,606

3,127,843,301

3,373,810,427

3,589,651,781

(245,967,126)

(215,841,354)

1,802,522,857

1,799,712,858

1,805,300,051

2,809,999

(5,587,193)

55,548,001

58,811,306

60,532,209

(3,263,305)

(1,720,903)

185,462,919

147,400,799

88,150,862

38,062,120

59,249,937

99,262,238

116,368,389

142,026,836

(17,106,151)

(25,658,447)

5,609,408,773
14,415,541,93
5

5,773,065,404
14,020,405,84
8

5,960,678,225

(163,656,631)

(187,612,821)

13,083,936,951

395,136,087

936,468,897

LIABILITIES AND EQUITY

Current Liabilities
Short-term loans (Notes 17 and
30)
Trade payables and other
current liabilities(Notes 16,20
and 30)

1,152,970,000

2,222,960,000

1,106,875,000

(1,069,990,000)

1,116,085,000

2,190,657,499

1,931,183,185

1,781,441,508

259,474,314

149,741,677

Income tax payables

359,645,980

61,653,785

276,055,923

297,992,195

(214,402,138)

Dividends payable (Note 30)

10,873,177

9,698,035

8,868,629

1,175,142

829,406

Current portion of obligations for

program and other rights (Notes
18 and 30)

220,843,041

116,533,114

141,098,456

104,309,927

(24,565,342)

3,934,989,697

4,342,028,119

3,314,337,516

(407,038,422)

1,027,690,603

5,193,223

33,330,130

(5,193,223)

(28,136,907)

Total Current Liabilities

Noncurrent Liabilities
Noncurrent portion of obligations for program and
other rights (Notes18,30 and 31)
Pension liability (Note 26)

1,102,714,871

1,161,280,052

605,248,052

(58,565,181)

556,032,000

Other long-term employee

benefits (Note 26)

295,717,251

259,012,979

264,368,057

36,704,272

(5,355,078)

19,696,301

41,580,015

(19,696,301)

(21,883,714)

Deferred income tax liabilities-net (Note 28)

Total Noncurrent Liabilities

1,398,432,122

1,445,182,555

944,526,254

(46,750,433)

500,656,301

Total Liabilities

5,333,421,819

5,787,210,674

425,863,770

(453,788,855)

5,361,346,904

Equity Attributable to Equity Holders of the Parent Company

Capital stock (Note 19)

4,864,692,000

4,864,692,000

4,864,692,000

Additional paid-in capital

Revaluation increment on
land - net of tax(Note 13)
Remeasurement loss on
retiremant plans - net of
tax(Note 26)
Net unrealized gain on
available-for-sale financial
assets - net of tax(Note 10)
Retained earnings (Note 19)

1,659,035,196

1,659,035,196

1,659,035,196

1,017,247,029

1,017,247,029

1,021,158,064

(3,911,035)

(300,486,170)

(313,328,670)

(249,530,807)

12,842,500

(63,797,863)

(59,671,681)

5,019,775

3,083,187

(64,691,456)

1,936,588

1,892,306,756

992,079,088

1,299,681,650

900,227,668

(307,602,562)

Treasury stocks (Note 19)

Underlying shares of the
acquired Philippine Deposit
Receipts (Note 19)
Total Equity Attributable to
Parent Company
Equity Attributable to Noncontrolling Interest (Note 2)
Total Equity
TOTAL LIABILITIES AND
EQUITY

(28,483,171)

(2,828,483,171)

(28,483,174)

2,800,000,000

(2,799,999,997)

(5,790,016)

(5,790,016)

(5,790,016)

9,038,849,943

8,190,471,231

8,788,423,823

848,378,712

(597,952,592)

43,270,173

42,723,943

36,649,358

546,230

6,074,585

9,082,120,116

8,233,195,174

8,825,073,181

848,924,942

(591,878,007)

14,415,514,935

14,020,405,841

13,083,936,951

395,109,094

936,468,890

GMA NETWOEK INCORPORATION

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

(Vertical)
Vertical
2014

2013

14.9
9

11.40

13.37

3,521,430,443

30.4
1

3.34

26.91

1,198,270,709

1,209,229,281

8.27

8.55

9.24

1,069,029,207

785,435,141

635,093,804

7.42

5.60

4.85

8,806,133,162

8,220,907,972

7,123,258,729

58.64

54.44

0.19

0.00

58.82

54.44

2015

2014

2013

2015

2,160,298,125

1,598,825,520

1,749,631,196

4,384,198,602

468,376,682

1,192,607,228

Assets
Current Assets
Cash and Cash
equivalents(Notes 6 and
30)
Trade and other
receivables(Notes 7,20
and 30)
Program and other
rights(Note 8)
Prepaid expenses and
other current assets (Note
9)

Asset classified as held for sale (Note 15)

Total Current Assets

26,432,472

61.0
9
0.00
61.0
9

8,806,133,162

8,247,340,444

7,123,258,726

191,116,881

129,024,081

135,552,548

1.33

0.92

1.04

147,652,576

147,937,544

139,463,938

1.02

1.06

1.07

3,127,843,301

3,373,810,427

3,589,651,781

24.06

27.44

1,802,522,857

1,799,712,858

1,805,300,051

12.84

13.80

55,548,001

58,811,306

60,532,209

0.39

0.42

0.46

185,462,919

147,400,799

88,150,862

1.29

1.05

0.67

99,262,238

116,368,389

142,026,836

0.69

0.83

1.09

Total Noncurrent Assets

5,609,408,773

5,773,065,404

5,960,678,225

38.9
1

41.18

TOTAL ASSETS

14,415,541,935

14,020,405,848

13,083,936,951

Noncurrent Assets
Available-for-sale financial
assets (Notes 10,30 and
31)
Investments and advances
(Notes 11 and 20)
Property and equipment;
At cost (Note 12)
AT Revalued amounts
(Note 13)
Investment properties
(Notes 14 and 31)
Deferred income tax
assets-net (Note 28)
Other noncurrent assets
(Notes 15, 30 and 31)

21.7
0
12.5
0

45.56

LIABILITIES AND EQUITY

Current Liabilities
Short-term loans (Notes 17
and 30)
Trade payables and other
current liabilities(Notes 16,20
and 30)

1,152,970,000

2,222,960,000

1,106,875,000

8.00

15.86

8.46

2,190,657,499

1,931,183,185

1,781,441,508

15.20

13.77

13.62

Income tax payables

359,645,980

61,653,785

276,055,923

2.49

0.44

2.11

Dividends payable (Note 30)

10,873,177

9,698,035

8,868,629

0.08

0.07

0.07

Current portion of obligations

for program and other rights
(Notes 18 and 30)

220,843,041

116,533,114

141,098,456

1.53

0.83

1.08

3,934,989,697

4,342,028,119

3,314,337,516

27.30

30.97

25.33

5,193,223

33,330,130

0.00

0.04

23.62

Total Current Liabilities

Noncurrent Liabilities
Noncurrent portion of obligations for program and
other rights (Notes18,30 and 31)
Pension liability (Note 26)

1,102,714,871

1,161,280,052

605,248,052

7.65

8.28

4.63

Other long-term employee

benefits (Note 26)

295,717,251

259,012,979

264,368,057

2.05

1.85

2.02

19,696,301

41,580,015

0.00

0.14

0.32

Deferred income tax liabilities-net (Note 28)

Total Noncurrent Liabilities

1,398,432,122

1,445,182,555

944,526,254

9.70

10.31

7.22

Total Liabilities

5,333,421,819

5,787,210,674

425,863,770

37.00

41.28

3.25

Equity Attributable to Equity Holders of the Parent Company

Capital stock (Note 19)

4,864,692,000

4,864,692,000

4,864,692,000

33.75

34.70

37.18

Additional paid-in capital

Revaluation increment on land - net of
tax(Note 13)
Remeasurement loss on retirement
plans - net of tax(Note 26)
Net unrealized gain on available-forsale financial assets - net of tax
(Note 10)

1,659,035,196

1,659,035,196

1,659,035,196

11.51

11.83

12.68

1,017,247,029

1,017,247,029

1,021,158,064

7.26

7.80

(300,486,170)

(313,328,670)

(249,530,807)

7.06
(2.08
)

(2.23)

(1.91)

(59,671,681)

5,019,775

3,083,187

(0.41
)

0.04

0.02

Retained earnings (Note 19)

1,892,306,756

1,299,681,650

7.08
(20.17
)

9.93

(28,483,171)

992,079,088
(2,828,483,171
)

(0.22)

(0.04)

(0.04)

Treasury stocks (Note 19)

Underlying shares of the acquired
Philippine Deposit Receipts (Note 19)
Total Equity Attributable to Parent
Company
Equity Attributable to Non-controlling
Interest (Note 2)
Total Equity

(5,790,016)

(5,790,016)

(5,790,016)

13.13
(0.20
)
(0.04
)

9,038,849,943

8,190,471,231

8,788,423,823

62.70

58.42

67.17

43,270,173
9,082,120,116

42,723,943
8,233,195,174

36,649,358
8,825,073,181

0.30
63.00

0.30
58.72

0.28
67.45

TOTAL LIABILITIES AND EQUITY

14,415,514,935

14,020,405,841

13,083,936,951

(28,483,174)

GMA NETWOEK INCORPORATION

CONSOLIDATED STATEMENT OF FINANCIAL POSITION
(Horizontal)

Horizontal
2015

2014

2013

2015-2014

2014-2013

2,160,298,125

1,598,825,520

1,749,631,196

35.12

(8.62)

4,384,198,602

468,376,682

3,521,430,443

836.04

(86.70)

Program and other rights(Note 8)

1,192,607,228

1,198,270,709

1,209,229,281

(0.47)

(0.91)

Prepaid expenses and other

current assets (Note 9)

1,069,029,207

785,435,141

635,093,804

36.11

23.67

8,806,133,162

8,220,907,972

7,123,258,729

7.12

15.41

(100.00)

0.00

Assets
Current Assets
Cash and Cash
equivalents(Notes 6 and 30)
Trade and other
receivables(Notes 7,20 and 30)

Asset classified as held for sale (Note 15)

Total Current Assets

26,432,472

8,806,133,162

8,247,340,444

7,123,258,726

6.78

15.78

191,116,881

129,024,081

135,552,548

48.12

(4.82)

147,652,576

147,937,544

139,463,938

(0.19)

6.08

At cost (Note 12)

3,127,843,301

3,373,810,427

3,589,651,781

(7.29)

(6.01)

AT Revalued amounts (Note 13)

1,802,522,857

1,799,712,858

1,805,300,051

0.16

(0.31)

55,548,001

58,811,306

60,532,209

(5.55)

(2.84)

185,462,919

147,400,799

88,150,862

25.82

67.21

99,262,238

116,368,389

142,026,836

(14.70)

(18.07)

Total Non-current Assets

5,609,408,773

5,773,065,404

5,960,678,225

(2.83)

(3.15)

TOTAL ASSETS

14,415,541,935

14,020,405,848

13,083,936,95
1

Noncurrent Assets
Available-for-sale financial
assets (Notes 10,30 and 31)
Investments and advances
(Notes 11 and 20)
Property and equipment;

Investment properties (Notes 14

and 31)
Deferred income tax assets-net
(Note 28)
Other non-current assets (Notes
15, 30 and 31)

LIABILITIES AND EQUITY

Current Liabilities
Short-term loans (Notes 17 and 30)
Trade payables and other current
liabilities(Notes 16,20 and 30)
Income tax payables
Dividends payable (Note 30)
Current portion of obligations for program and
other rights (Notes 18 and 30)
Total Current Liabilities

1,152,970,000

2,222,960,000

1,106,875,000

(48.13)

100.83

2,190,657,499

1,931,183,185

1,781,441,508

13.44

8.41

359,645,980

61,653,785

276,055,923

483.33

(77.67)

10,873,177

9,698,035

8,868,629

12.12

9.35

220,843,041

116,533,114

141,098,456

89.51

(17.41)

3,934,989,697

4,342,028,119

3,314,337,516

(9.37)

31.01

5,193,223

33,330,130

(100.00)

(84.42)

1,102,714,871

1,161,280,052

605,248,052

(5.04)

91.87

295,717,251

259,012,979

264,368,057

14.17

(2.03)

19,696,301

41,580,015

(100.00)

(52.63)

Noncurrent Liabilities
Noncurrent portion of obligations for program
and other rights
(Notes18,30 and 31)
Pension liability (Note 26)
Other long-term employee benefits (Note 26)
Deferred income tax liabilities-net (Note 28)
Total Noncurrent Liabilities

1,398,432,122

1,445,182,555

944,526,254

(3.23)

53.01

Total Liabilities

5,333,421,819

5,787,210,674

425,863,770

(7.84)

1,258.93

Equity Attributable to Equity Holders of the Parent Company

Capital stock (Note 19)

4,864,692,000

4,864,692,000

4,864,692,000

0.00

0.00

Additional paid-in capital

1,659,035,196

1,659,035,196

1,659,035,196

0.00

0.00

1,017,247,029

1,017,247,029

1,021,158,064

0.00

(0.38)

(300,486,170)

(313,328,670)

(249,530,807)

(4.10)

25.57

(59,671,681)

5,019,775

3,083,187

(1288.73)

62.81

1,892,306,756

992,079,088

1,299,681,650

90.74

(23.67)

(28,483,171)

(2,828,483,171)

(28,483,174)

(98.99)

9,830.37

(5,790,016)

(5,790,016)

(5,790,016)

0.00

0.00

9,038,849,943

8,190,471,231

8,788,423,823

10.36

(6.80)

43,270,173

42,723,943

36,649,358

1.28

16.57

9,082,120,116

8,233,195,174

8,825,073,181

10.31

(6.71)

14,415,514,935

14,020,405,841

13,083,936,951

Revaluation increment on land net of tax(Note 13)

Remeasurement loss on
retirement plans - net of tax(Note
26)
Net unrealized gain on availablefor-sale financial assets - net of
tax(Note 10)
Retained earnings (Note 19)
Treasury stocks (Note 19)
Underlying shares of the acquired
Philippine Deposit Receipts (Note
19)
Total Equity Attributable to Parent
Company
Equity Attributable to Noncontrolling Interest (Note 2)
Total Equity
TOTAL LIABILITIES AND
EQUITY

GMA NETWORK, INC.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

2015
13,727,094,669
58,482,585,068
7,884,509,601
4,902,372,023

2014
11,982,838,346
5,551,782,964
6,431,105,382
5,021,969,892

2013
12,950,879,322
5,956,381,705
6,994,497,617
4,608,945,146

(40,534,078)
13,655,810
(33,533,918)
(3,113,716)
117,553,460
54,027,558
3,036,165,136

(36,355,793)
15,640,942
(12,972,272)
5,338,761
76,666,947
48,318,585
1,457,454,075

(53,115,234)
23,990,805
(31,320,982)
(5,362,051)
67,561,044
1,753,582
2,387,306,053

954,898,842
(44,562,213)
910,336,629
NET INCOME
2,125,828,507
OTHER COMPREHENSIVE INCOME (LOSS)-net of tax
Item to be reclassified to profit or loss in subsequent periodsNet changes in the fair market value of
(60,440,000)
available-for-sale financial assets (note 10)
Recycling of fair value change of certain
available-for-sale financial assets due to
(5,241,820)
impairment and redemption(Note 10)
Income tax effect
990,364
64,691,456

513,917,294
(65,982,463)
447,934,831
1,009,519,244

909,190,340
(196,859,299)
712,331,041
1,674,975,012

770,788

(982,740)

Net Revenues
Production Costs
Gross profit
General and Administrative expenses
Other Income (Expense)
Interest expense and financing charges
net foreign currency exchange loss
Interest income
Equity in net losses of joint ventures
Others-net
INCOME BEFORE INCOME TAX
PROVISION FOR INCOME TAX (Notes 28)
Current
Deferred

Items not to be reclassified to profit or loss in

subsequent periods:
Revaluation increment (decrement) on land
(Note 13)
Remeasurement gain (loss) on retirement
plans (Note 26)
Income tax effect

TOTAL COMPREHENSIVE INCOME

Net income attributable to:
Equity holders of the Parent Company
Non-controlling interest
Total Comprehensive income attributable to:
Equity holders of the Parent Company
Non-controlling interest (Note 2)
Basic/Diluted earnings per share(Note 29)

1,370,300
(204,500)
1,936,588

(982,740)

(5,587,193)

395,714,346

18,346,429

(410,241,751)

(86,144,320)

-5503929
12,842,500
-51848956
2,073,979,551

124,748,683
(291,080,261)
(289,143,673)
720,375,571

(92,871,008)
216,699,018
215,716,278
1,890,691,290

2,115,082,277
10,746,230
2,125,828,507

1,004,651,016
4,868,228
1,009,519,244

1,666,949,855
8,025,157
1,674,975,012

2,073,979,551
2,073,979,551

714,300,986
6,074,585
720,375,571

1,882,666,133
8,025,157
1,890,691,290

0.44

0.21

0.34

GMA NETWORK, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

CASH FLOWS FROM OPERATING ACTIVITIES

Income before income tax
Non-cash adjustments to reconcile income before
income tax to net cash flows:
Depreciation and amortization (Notes 12, 14, 22
and 23)
Program and other rights usage (Notes 8 and 22)
Pension expense (Note 26)
Interest expense (Notes 17 and 18)
Net unrealized foreign currency exchange loss
Gain on disposal of asset held for sale (Notes 10
and 25)
Amortization of software costs (Notes 15 and 23)
Gain on sale of property and equipment (Note 25)
Interest income (Note 6)
Provisions for doubtful accounts (Notes 7 and 23)
Recycling of fair value change of certain available
for-sale financial assets due to redemption (Note
10)
Equity in net losses (earnings) of joint ventures
(Note 11)
Impairment loss on available-for-sale financial
assets (Notes 10 and 23)
Loss on asset disposed/written off (Note 25)
Loss on redemption of available-for-sale financial
assets (Note 25)
Dividend income (Note 25)
Gain on sale of investment properties (Note 25)
Working capital adjustments:
Decreases (increases) in:
Short-term investments
Trade and other receivables
Program and other rights (Note 8)
Prepaid expenses and other current assets
Increases (decreases) in:
Trade payables and other current liabilities
Obligations for program and other rights
Other long-term employee benefits
Contributions to retirement plan assets (Note 26)
Benefits paid out of Groups fund
Cash flows provided by operations
Interest received
Income taxes paid
Net cash flows from operating activities

2015

2014

2013

3,036,165,136

1,457,454,075

2,387,306,05

800,272,014

776,525,812

705,440,885

754,638,743
166,938,102
40,534,078
24,267,569

646,680,799
163,016,525
34,258,441
12,357,814

565,357,691
116,158,183
51,661,084
45,628,791

(23,567,528)

20,680,531
(19,962,498)
(13,655,810)
8,581,859

23,369,011
(32,321,569)
(15,640,942)
715,495

30,995,844
(11,243,730)
(23,990,805)
848,005

(6,601,820)

3,113,716

(5,338,761)

5,362,051

1,360,000

1,370,300

1,053,550

1,113,094

3,624,011

2,703,576

147,380

0
0

(514,942)
(396,813)

(22,130,300)
0

(126,593,181)
(748,975,262)
29,693,093

7,874,002
(933,327,414)
(635,722,227)
(331,402,718)

664 140
373,295,344
(585,446,302)
88,989,635

229,032,100
99,116,704
36,704,272
(172,681,390)
(34,475,464)
4,105,845,438
13,444,879
(656,906,736)

150,800,771
(51,500,114)
12,240,548
(17,595,626)
0
1,266,526,478
15,886,283
(619,881,084)

187,053,120
(76,383,888)
21,711,880
(3,578,687)
(420,198)
3,861,036,122
24,023,042
(829,742,855)

3,462,383,581

662,531,677

3,055,316,309

CASH FLOWS FROM INVESTING

ACTIVITIES
Acquisitions of:
Property and equipment (Note 12)

(552,797,608)

(563,896,491
)

(672,652,22
7)

Land at revalued amount (Note 13)

(2,809,999)

Software costs (Note 15)

(2,170,075)

(21,632,058)

(12,309,842)

(105,411)

(3,299,279)

(1,846,519)

Sale of property and equipment

21,823,934

38,540,596

13,257,506

Redemption of available-for-sale
financial assets

718,000

2,200,001

(1,404,305)

2,510,978)

7,465,632

(2,828,748)

(3,134,845)

65,902

(539,574,212)

(553,667,152
)

(666,085,45
0)

1,200,000,000

2,191,559,00
0

1,825,000,00
0

(1,106,824,00
0)
(1,311,424,17
2)

(2,500,000,0
00)
(1,213,829,0
77)

(35,317,535)

(52,848,510)

(262,006,707
)
(153,142,182
)

(1,941,677,5
87)

2,336,506

14,792,364

1,749,631,19
6
1,598,825,52
0

1,287,285,56
0
1,749,631,19
6

Investment properties (Note 14)

Proceeds from:

Sale of investment properties

Decreases (increases) in other
noncurrent assets
Advances to an associate and joint
ventures (Notes 11 and 20)
Cash dividends received
Net cash flows used in investing
activities
CASH FLOWS FROM FINANCING
ACTIVITIES
Proceeds from availments of short-term
loans (Note 17)
Payments of:
Short-term loans (Note 17)

(2,325,197,500)

Cash dividends (Notes 2 and 19)

(1,223,879,467)

Interest expense
Net cash flows used in financing
activities
NET INCREASE (DECREASE) IN CASH
AND CASH EQUIVALENTS
EFFECT OF EXCHANGE RATE CHANGES
ON CASH AND CASH EQUIVALENTS
CASH AND CASH EQUIVALENTS AT
BEGINNING OF YEAR
CASH AND CASH EQUIVALENTS AT END
OF THE YEAR (Note 6)

(43,199,728)
(2,392,276,695)
530,532,674
30,939,931
1,598,825,520
2,160,298,125

447,553,272