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SUBIC BAY METROPOLITAN AUTHORITY


STATEMENT OF INCOME (In Thousand Pesos) 2013

2012

REVENUES Leases Port Services Tourism Services Gain on Revaluation (Note 20) Other Operating Income (Note 21)

1,166,705 450,782 11,880 854,878 436,671

1,009,336 346,525 9,747 1,113,237 300,278

2,920,916

2,779,123

471,656 262,673 388,789 87,026 41,613 503,311

742,264 131,848 641,432 87,589 45,692 319,370

1,755,068

1,968,195

55,398

11,313

1,810,466

1,979,508

1,110,450

799,615

OPERATING EXPENSES Depreciation Bad Debts Expense Salaries and Benefits Power and Water Supplies, Materials and Fuels Loss on Revaluation (Note 20) Others (Note 22)

Provision for Income Tax

NET INCOME * Unaudited Financial Statement

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B

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B

A

Y

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O

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A

N

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Y

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BALANCE SHEET (In Thousand Pesos) 2013

2012

ASSETS Current Assets 1,152,799

730,872

Receivables

332,078

Inventories

112,026

215,095 111,483

Miscellaneous Assets

8,561

9,407

Total Current Assets

1,605,464

1,066,857

Investments

395,800

358,481

Receivables

621,161

640,525

25,409,930

25,902,623

56,685

52,303

26,483,576

26,953,932

28,089,040

28,020,789

Cash

Non-Current Assets

Property, Plant and Equipment Other Assets

Total Non-Current Assets

TOTAL ASSETS

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BALANCE SHEET (In Thousand Pesos) 2013

2012

LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities Payables & Accrued Expense Loans Payable Accrued Interest Deferred Credits to Income Security Deposits & Advance Rental Trust Liabilities Total Current Liabilities

171,479 382,873 28,739 57,137 182,202 260,777

163,076 678,092 45,761 68,523 170,927 218,247

1,083,207

1,344,626

Security Deposits (Note 14)

173,480 6,798,686 2,588,444 470,332

169,130 7,768,812 2,584,471 400,784

Total Non-Current Liabilities

10,030,942

10,923,197

Total Liabilities

11,114,150

12,267,823

Stockholders' Equity

16,974,890

15,752,966

TOTAL LIABILITIES & STOCKHOLDERS' EQUITY

28,089,040

28,020,789

Non-Current Assets Other Payables (Not Loans Payable - net of current portion (Note 12) Deferred Credits to Income (Note 13)

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U

B

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C

B

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Y

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STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY 2013

2012

Paid-in Capital (Note 16) Balance at beginning of year

19,942,815

19,942,815

Additions/(deductions)

-

-

Balance at end of year

19,942,815

19,942,815

31,767

259,493

-

(227,726)

31,767

31,767

307

307

Additions/(deductions)

-

-

Balance at end of year

307

307

37,618

37,618

Additions/(deductions)

-

-

Balance at end of year

37,618

37,618

(4,259,541)

(5,519,433)

1,110,450

799,615

111,474

460,277

Balance at end of year

(3,037,617)

(4,259,541)

TOTAL STOCKHOLDERS' EQUITY

16,974,890

15,752,966

Appraisal Surplus (Note 17) Balance at beginning of year Partial realization of Appraisal Surplus Balance at end of year

Invested Capital-Held in Trust (Note 18) Balance at beginning of year

Donated Capital (Note 19) Balance at beginning of year

Retained Earnings Balance at beginning of year Net income (loss) for the year Correction of fundamental errors

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STATEMENT OF CASH FLOWS (In Thousand Pesos) 2013

212

Cash Flows From Operating Activities: 684,809

527,724

803

-

Cash received in payment of customers' account

965,699

887,747

Cash received from customers for unearned income

234,738

410,778

(171)

6,702

14,237

13,989

243,076

249,434

Cash paid to employees and suppliers

(862,417)

(875,899)

Refund of customers' security deposits

(1,812)

(3,241)

Cash paid from non-customers' trust fund

(177,418)

(230,651)

Cash paid for financing charges

(189,388)

(204,165)

912,156

782,418

16,465

29,773

-

32,800

Investment on Dollar Time Deposit - Sinking Fund

16,577

1,615

Joint Venture - Subic Water

14,853

-

Port Dev. - JBIC II & locally funded projects

(328)

(68,615)

Capital expenditures - Local

(935)

(734)

46,632

(5,161)

Cash received from customers Sale of Unserviceable Properties

Interest received Customers' security deposits Trust fund received non-customers

Net cash provided by operating activities

Cash Flows From Investing Activities: Investment in Bonds Other Investments

Net cash used in investing activities

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B

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C

B

A

Y

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STATEMENT OF CASH FLOWS (In Thousand Pesos) 2013

212

Cash Flows From Financing Activities: Loan Proceeds - LandBank

305,228

-

(325,553)

(172,282)

(6,666)

999

(81,913)

(78,698)

58

394

(17,464)

(20,866)

401

304

(229,300)

(280,986)

3,471

34

(14,884)

-

-

-

(130,000)

-

Investment in Dollar Bond (LBP)

(20,677)

(7,407)

Resticted Cash ($LBP)- SBMA Debt Service Account

(16,404)

-

Placement of Dollar Time Deposit - Sinking fund

(11,463)

(606)

Net cash used in financing activities

(545,166)

(559,114)

Effect of Exchange Rate Changes on Cash

8,305

(82,490)

Net (Decrease) Increase in Cash

421,927

135,653

Cash at Beginning of Year

730,872

595,219

1,152,799

730,872

Principal loan repayments - Subic 1 Gain on repayment - Subic 1 Principal loan repayments - Subic 2 Loss on repayment - Subic 2 Principal loan repayments - JBIC 1 Loss on repayment - JBIC 1 Principal loan repayments - JBIC 2 Loss on repayment - JBIC 2 Principal loan repayments - Eximbank Loss on repayment - Eximbank

Repayment of Loan - LBP

Cash at End of Year

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2013 Financial Statement Year End Report  

SBMA 2013 Financial Statement Year End Report

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