Consolidated Statements of Financial Position

As of December 31, 2020, 2019 and 2018
(In thousands pesos)

	Note		2020		2019		2018
Asset
Current assets:
Cash and cash equivalents	3	$	3,990,572	$	1,690,176	$	2,477,658
Accounts and documents receivable	4		9,672,850		11,872,111		11,433,864
Recoverable taxes, mainly value added tax	5		1,336,751		1,338,688		1,246,317
Inventories	6		10,565,273		12,549,667		12,359,171
Prepaid expenses			98,611		78,500		81,734
Total current assets			25,664,057		27,529,142		27,598,744
Non-current assets:
Long-term accounts receivable	4		1,297,214		1,488,146		1,577,705
Property, plant and equipment	11		13,114,892		14,102,299		14,549,494
Investment properties	12		2,462,521		2,507,271		2,415,553
Lease right-of-use assets	7		4,399,663		5,158,750		5,484,394
Investment in shares of associated and others	13		2,637,548		3,524,415		2,273,917
Employee retirement benefits	16		820,200		226,361		537,346
Deferred income taxes	23		1,841,898		1,922,791		1,501,957
Other assets, Net			317,381		232,900		183,802
Total non-current assets			26,891,317		29,162,933		28,524,168
Total assets		$	52,555,374	$	56,692,075	$	56,122,912
Liabilities
Current liabilities:
Trade accounts payable		$	8,361,528	$	8,684,657	$	9,115,216
Lease liabilities	8		1,118,214		1,243,500		1,247,049
Other accounts payable and accrued liabilities	14		3,052,292		4,247,596		3,828,226
Due to related parties	18		524,736		530,398		844,199
Provisions	15		178,458		129,731		129,265
Direct employee benefits			308,689		522,011		496,767
Current portion of long-term income tax payable	23f		27,952		233,030		66,229
Income tax payable			118,552		541,085		196,041
Total current liabilities			13,690,421		16,132,008		15,922,992
Non-current liabilities:
Income tax payable long-term	23f		296,738		500,439		598,876
Employee retirement benefits	16		57,328		717,578		56,494
Deferred income taxes	23b		1,072,577		1,202,934		1,242,613
Other liabilities			18,047		18,391		15,213
Lease liabilities	8		4,111,957		4,964,449		5,239,466
Total non-current liabilities			5,556,647		7,403,791		7,152,662
Total liabilities			19,247,068		23,535,799		23,075,654
Stockholders’ equity
Stockholders’ equity:
Capital stock	17		1,975,283		1,977,520		1,980,050
Additional paid - in capital			10,896,604		10,896,604		10,896,604
Accumulated earnings			21,606,876		20,940,908		20,154,361
Other comprehensive loss items			(2,050,886)		(1,953,962)		(1,275,670)
Controlling interest			32,427,877		31,861,070		31,755,345
Non-controlling interest			880,429		1,295,206		1,291,913
Total stockholders’ equity			33,308,306		33,156,276		33,047,258
Total liabilities and stockholders’ equity		$	52,555,374	$	56,692,075	$	56,122,912

See accompanying notes to consolidated financial statements.