ayala land, inc. index to exhibits form 17-a – item 7 no. 352-2013 - ayala...ayala land, inc....

46

AYALA LAND, INC.

INDEX TO EXHIBITS

Form 17-A – Item 7

No.

(3) Plan of Acquisition, Reorganization, Arrangement, Liquidation,

or Succession n.a.

(5) Instruments Defining the Rights of Security Holders, Including

Indentures n.a.

(8) Voting Trust Agreement n.a.

(9) Material Contracts n.a.

(10) 2012 Consolidated Financial Statements: Ayala Land, Inc. and

Subsidiaries (with notarized Statement of Management

Responsibility) Attached

2012 Financial Statements of “significant” subsidiaries/affiliates

which are not consolidated n.a.

(13) Letter re: Change in Certifying Accountant n.a.

(16) Report Furnished to Security Holders n.a.

(18) Subsidiaries of the Registrant 47

(19) Published Report Regarding Matters Submitted to Vote

of Security Holders n.a.

(20) Consent of Experts and Independent Counsel n.a.

(21) Power of Attorney n.a.

(29) Additional Exhibits n.a.

-------

n.a. Not applicable or require no answer.

47

AYALA LAND, INC. - SUBSIDIARIES AND ASSOCIATES AND JOINTLY CONTROLLED ENTITIES

(As of December 31, 2012)

Percentages of Ownership (%)

2012 2011

Real Estate:

Alveo Land Corporation (Alveo) 100 100

Serendra, Inc. 39 39

Solinea, Inc. (Solinea) 65 65

Serendra, Inc. 28 28

Amorsedia Development Corporation and Subsidiaries 100 100

OLC Development Corporation and Subsidiary 100 100

HLC Development Corporation 100 100

Allysonia International Ltd. 100 100

Avida Land Corporation and Subsidiaries (Avida) 100 100

Buklod Bahayan Realty and Development Corp. 100 100

Avida Sales Corp. 100 100

Amicassa Process Solutions, Inc. 100 100

Avencosouth Corp. (Avencosouth) 70 –

Amaia Land Co. (Amaia) 100 100

Ayala Land International Sales, Inc. (ALISI) 100 100

Ayalaland International Marketing, Inc. (AIMI) 100 –

Ayala Land Sales, Inc. 100 100

Buendia Landholdings, Inc. 100 100

Crans Montana Holdings, Inc. 100 100

Crimson Field Enterprises, Inc. 100 100

Ecoholdings Company, Inc. (ECI) 100 100

NorthBeacon Commercial Corporation (NBCC) 100 100

Red Creek Properties, Inc. 100 100

Regent Time International, Limited (Regent Time)

(British Virgin Islands)

100 100

Asterion Technopod, Incorporated (ATI) 100 100

Crestview E-Office Corporation (Crestview) 100 100

Gisborne Property Holdings, Inc. 100 100

Hillsford Property Corporation (HPC) 100 100

Primavera Towncentre, Inc. (PTI) 100 100

Summerhill E-Office Corporation (Summerhill) 100 100

Sunnyfield E-Office Corporation (Sunnyfield) 100 100

Subic Bay Town Centre, Inc. 100 100

Regent Wise Investments Limited (Regent Wise)

(Hongkong company)

100 100

AyalaLand Commercial REIT, Inc. (ALCRI) 100 100

Arvo Commercial Corporation (Arvo) 100 100

BellaVita Land Corporation (BellaVita) 100 100

Nuevo Centro, Inc. (Nuevo Centro) 100 100

Cavite Commercial Town Center, Inc. 100 100

ALI Property Partners Corp. (APPCo) (Note 24) 68 68

One Dela Rosa Property Development, Inc. 68 68

First Gateway Real Estate Corp. 68 68

Glensworth Development, Inc. (Glensworth) 68 68

UP North Property Holdings, Inc. 68 68

Laguna Technopark, Inc. (LTI) 75 75

Ecozone Power Management, Inc. 75 75

48

Aurora Properties Incorporated 70 70

Vesta Property Holdings, Inc. 70 70

Station Square East Commercial Corporation (SSECC) 69 69

Asian I-Office Properties, Inc. (AiO) 60 60

Accendo Commercial Corp. (Accendo) 67 67

Avencosouth Corp. 20 –

Cagayan de Oro Gateway Corp. (CDOGC) 70 51

Ceci Realty, Inc. (Ceci) 60 60

CMPI Holdings, Inc. 60 60

CMPI Land, Inc. 36 36

ALI-CII Development Corporation (ALI-CII) 50 50

Roxas Land Corporation (RLC) 50 50

Adauge Commercial Corporation (Adauge) 100 –

Southgateway Development Corp. (SDC) 100 –

Ayalaland MetroNorth, Inc. (AMNI) 100 –

Construction:

Makati Development Corporation and Subsidiaries (MDC) 100 100

MDC – Subic 100 100

MDC - Build Plus, Inc. 100 100

Hotels and Resorts:

Ayala Hotels, Inc. (AHI) 50 50

AyalaLand Hotels and Resorts Corporation (AHRC)

and Subsidiaries

100 100

ALI Makati Hotel & Residences, Inc.

(formerly KHI-ALI Manila, Inc.)

80 –

ALI Makati Hotel Property, Inc.

(formerly KHI Manila Property, Inc.)

80 –

Enjay Hotels, Inc. (Enjay) 100 100

Greenhaven Property Venture, Inc. (GPVI) 100 100

Cebu Insular Hotel Company, Inc. (CIHCI) 63 63

Bonifacio Hotel Ventures, Inc. 100 100

Southcrest Hotel Ventures, Inc. 67 67

Northgate Hotel Ventures, Inc. 70 70

North Triangle Hotel Ventures, Inc. 100 100

Ecosouth Hotel Ventures, Inc. 100 100

ALI Makati Hotels & Residences, Inc.

(formerly KHI-ALI Manila, Inc.)

20 20

ALI Makati Hotel Property, Inc.

(formerly KHI Manila Property, Inc.)

20 20

Ten Knots Phils, Inc. and Subsidiary (TKPI) 60 60

Ten Knots Development, Corp. and Subsidiaries (TKDC) 60 60

Property Management:

Ayala Property Management Corporation (APMC) 100 100

Ayala Theatres Management, Inc. and Subsidiaries 100 100

Entertainment:

Five Star Cinema, Inc. 100 100

Leisure and Allied Industries Philippines, Inc. (LAIP) 50 50

49

Others:

MZM Holdings, Inc. (MZM) 100 100

ALInet.com, Inc. (ALInet) 100 100

First Longfield Investments Limited (First Longfield)

(Hongkong company)

100 100

Green Horizons Holdings Limited 100 100

Food Court Company, Inc. 100 100

Aprisa Business Process Solutions, Inc. (Aprisa) 100 100

Studio Ventures, Inc. 100 100

Directpower Services, Inc. (Directpower) 100 100

Philippine Integrated Energy Solutions, Inc. (PhilEnergy) 60 60

Varejo Corp. (Varejo) 100 –

50

AYALA LAND, INC.

INDEX TO SUPPLEMENTARY SCHEDULES

Form 17-A, Item 7

Page No.

Supplementary Schedules

Report of Independent Public Accountants on Supplementary Schedules 51

A. Financial Assets 52

B. Amounts Receivable from Directors, Officers, Employees, Related

Parties and Principal Stockholders (Other than Related Parties) 53

C. Accounts Receivable from Related Parties which are eliminated

during the Consolidation Period 54

D. Intangible Assets - Other Assets 59

E. Long-Term Debt 60

F. Indebtedness to Related Parties (Long-Term Loans from Related Companies) 61

G. Guarantees of Securities of Other Issuers 62

H. Capital Stock 63

I. List of Applicable Standards and Interpretations 64

J. Reconciliation of Retained Earnings Available for Dividend Declaration 65

K. Map of Relationships of Companies within the Group 71

L. Financial Ratios 75

52

AYALA LAND, INC. AND SUBSIDIARIES

SCHEDULE A - Financial Assets

As of December 31, 2012

NAME OF ISSUING ENTITY AND

ASSOCIATION OF EACH ISSUE

NUMBER OF

SHARE OR

PRINCIPAL

AMOUNT

AMOUNT IN THE

BALANCE SHEET

INCOME RECEIVED

& ACCRUED

Loans and Receivables

A. Cash in Bank 13,458,912,578Php 48,118,740Php

BPI

Peso 11,329,826,222 45,570,880

Foreign Currency 129,463,000 17,555

Other Banks

Peso 1,608,278,381 2,407,110

Foreign Currency 391,344,975 123,195

B. Cash Equivalents 15,086,470,288 866,224,931

BPI

Special Savings Account 3,580,923,259 124,199,770

Time Deposits 5,972,833,470 206,955,489

Others 1,254,731,966 264,069,267

Other Banks

Special Savings Account 1,972,238,203 106,690,731

Time Deposits 257,035,228 47,364,668

Others 2,048,708,162 116,945,006

C. Loans and receivable 34,215,943,608 1,118,189,632

Trade 27,261,822,976 1,078,194,146

Advances to other companies 5,954,120,632 -

Investment in bonds classified as loans

and receivables 1,000,000,000 39,995,486

D . Financial Assets at FVPL 713,715,865 -

E. AFS Financial assets 454,270,395 43,232,111

TOTAL : 63,929,312,734Php 2,075,765,414Php

53


SCHEDULE B - Amounts Receivable from Directors, Officers, Employees, Related Parties

and Principal Stockholders (Other than Related Parties)


CURRENT NON-CURRENT

Employees

Notes Receivable 289,657,606Php 247,798,212Php 286,799,573Php 164,805,456Php 85,850,789Php 250,656,245Php Accounts Receivable 141,857,447 102,758,371 182,236,425 62,379,393 - 62,379,393

431,515,053Php 350,556,583Php 469,035,998Php 227,184,849Php 85,850,789Php 313,035,638Php

TOTAL NAME BEGINNING BALANCE ADDITIONS DEDUCTIONS ENDING BALANCE

54


Schedule C - Accounts Receivable from Related Parties which are eliminated during the Consolidation Period


Receivable Balance

per ALI Parent

Payable Balance per

ALI Subsidiaries Current Non-Current

Ayala Land, Inc. (ALI) Subsidiaries:

Accendo Commercial Corp. (Accendo) 49,778,639Php 49,778,639Php 49,778,639Php

ALI Property Partners Corp. (APPCo) 345,176,288 345,176,288 345,176,288

ALI-CII Development Corporation (ALI-CII) 1,837,526 1,837,526 1,837,526

Alveo Land Corporation 172,201,441 172,201,441 172,201,441

Amaia Land Co. (Amaia) (formerly First Realty Communities, Inc.) 1,069,910,719 1,069,910,719 1,069,910,719

Amorsedia Development Corporation and Subsidiaries 397,196,415 397,196,415 397,196,415

Aprisa Business Process Solutions, Inc. 44,001,752 44,001,752 44,001,752

Asian I-Office Properties, Inc. 34,061,445 34,061,445 34,061,445

Aurora Properties Incorporated 45,834,883 45,834,883 45,834,883

Avida Land Corporation and Subsidiaries 1,061,859,877 1,061,859,877 1,061,859,877

Ayala Hotels Inc. 185,961 185,961 185,961

Ayala Land International Sales, Inc. 46,120,365 46,120,365 46,120,365

Ayala Land Reit Commercial Corporation 11,421 11,421 11,421

Ayala Land Sales, Inc. 32,527,193 32,527,193 32,527,193

Ayala Property Management Corporation 82,409,913 82,409,913 82,409,913

Ayala Theatres Management, Inc. and Subsidiaries 755,616 755,616 755,616

AyalaLand Hotels and Resorts Corporation 2,211,862 2,211,862 2,211,862

Buendia Landholdings, Inc. 653,426 653,426 653,426

Cagayan De Oro Gateway Corporation 112,155 112,155 112,155

Cavite Commercial Center, Inc. 20,000 20,000 20,000

Ceci Realty, Inc. 19,074,667 19,074,667 19,074,667

Crans Montana Holdings Inc. 1,047,198 1,047,198 1,047,198

Crestview E-Office Corporation (CeOC) 40,795,469 40,795,469 40,795,469

Crimson Field Enterprises, Inc. 73,251,393 73,251,393 73,251,393

Directpower Services, Inc. 2,466,609 2,466,609 2,466,609

Fairview Prime Commercial Corp 5,905 5,905 5,905

Hillsford Property Corporation (HPC) 299,783,253 299,783,253 299,783,253

Laguna Technopark, Inc. 573,383 573,383 573,383

Leisure and Allied Industries Philippines, Inc. 11,792,591 11,792,591 11,792,591

MZM Realty Holdings, Inc. 103 103 103

NorthBeacon Commercial Corporation (NBCC) 777,329 777,329 777,329

Nuevocentro, Inc. 17,029,596 17,029,596 17,029,596

Philippine Integrated Energy Solutions, Inc. 10,063,709 10,063,709 10,063,709

Primavera Towncentre, Inc. (PTI) 18,808,659 18,808,659 18,808,659

Red Creek Properties, Inc. 216,023,884 216,023,884 216,023,884

Regent Time International, Limited (Regent Time) (British Virgin

Islands) 96,790,963 96,790,963 96,790,963

Roxas Land Corporation (RLC) 3,225,619 3,225,619 3,225,619

Serendra, Inc. 48,583,777 48,583,777 48,583,777

Station Square East Commercial Corporation (SSECC) 56,532 56,532 56,532

Subic Bay Town Centre, Inc. 50,363,701 50,363,701 50,363,701

Summerhill E-Office Corporation 120,251 120,251 120,251

Sunnyfield E-Office Corp 18,416,546 18,416,546 18,416,546

Ten Knots Philippines, Inc. 475,934,081 475,934,081 475,934,081

Vesta Property Holdings, Inc. 9,670,443 9,670,443 9,670,443

Sub-Total 4,801,522,559Php 4,801,522,559Php 4,801,522,559Php -Php

Amount Owed by Ayala Land, Inc. (ALI) Subsidiaries to ALI Parent

55

Receivable Balance

per ALI Subsidiaries

Payable Balance per

ALI Parent Current Non-Current


ALI Property Partners Corp. (APPCo) 1,750,908Php 1,750,908Php 1,750,908Php -Php

ALI-CII Development Corporation (ALI-CII) 24,554 24,554 24,554



Aprisa Business Process Solutions, Inc. 22,036,765 22,036,765 22,036,765

Arvo Commercial Corporation 2,796 2,796 2,796


Avida Land Corporation and Subsidiaries 13,083,488 13,083,488 13,083,488

Ayala Hotels and Resorts Corporation 11,301 11,301 11,301

Ayala Land International Sales, Inc. 2,886,392 2,886,392 2,886,392

Ayala Land Sales, Inc. 529,756 529,756 529,756

Ayala Property Management Corporation 6,918,037 6,918,037 6,918,037

Ceci Realty, Inc. 8,822,332 8,822,332 8,822,332

CMPI Holdings, Inc. 4,962,761 4,962,761 4,962,761

Crans Montana Holdings Inc. 174,991,300 174,991,300 174,991,300

Five Star Cinema, Inc. 14,000 14,000 14,000

Laguna Technopark, Inc. 3,832 3,832 3,832

Makati Development Corporation (MDC) 3,318,145,599 3,318,145,599 3,318,145,599

North Beacon Commercial Corporation (NBCC) 17,871,759 17,871,759 17,871,759

Philippine Integrated Energy Solutions, Inc. 22,263,436 22,263,436 22,263,436


Regent Time International, Limited (British Virgin Islands) 295,650,858 295,650,858 295,650,858

Serendra, Inc. 693,618 693,618 693,618

Station Square East Commercial Corporation (SSECC) 302,084 302,084 302,084



Receivable Balance

per ALI Subsidiaries

Payable Balance per

MDC Current Non-Current


Alveo Land Corporation 275,149,988Php 275,149,988Php 275,149,988Php -Php

Amaia Land Co. (Amaia) (formerly First Realty Communities, Inc.) 41,019,733 41,019,733 41,019,733


Arvo Commercial Corporation 37,500 37,500 37,500

Asian I-Office Properties, Inc. (AiO) 137,256,921 137,256,921 137,256,921


AyalaLand Hotels and Resorts Corporation 87,772,513 87,772,513 87,772,513

Bellavita Land Corporation 19,926,943 19,926,943 19,926,943

Laguna Technopark, Inc. 2,385,684 2,385,684 2,385,684

Serendra, Inc. 279,012,896 279,012,896 279,012,896


Receivable Balance

per Alveo Land

Corporation

Payable Balance per


Ayala Land, Inc. (ALI) Subsidiries:

Vesta Property Holdings, Inc. 25,103,084Php 25,103,084Php 25,103,084Php -Php


Sub-Total 26,964,536Php 26,964,536Php 26,964,536Php -Php

Amount Owed by ALI Parent to ALI Subsidiaries

Amount Owed by Makati Development Corporation to ALI Subsidiaries

Amount Owed by ALI Subsidiaries to Alveo Land Corporation

56

Receivable Balance

per MDC

Payable Balance per



ALI Property Partners Corp. (APPCo) 3,574,794Php 3,574,794Php 3,574,794Php -Php


Amaia Land Co. (Amaia) 696,140,325 696,140,325 696,140,325


Arvo Commercial Corporation 19,216,065 19,216,065 19,216,065

Asian I-Office Properties, Inc. (AiO) 192,253,319 192,253,319 192,253,319



Bellavita Land Corporation 110,301,451 110,301,451 110,301,451

Bonifacio Hotel Ventures, Inc. 99,281,370 99,281,370 99,281,370

Ceci Realty, Inc. 125,960,107 125,960,107 125,960,107

Crestview E-Office Corporation (CeOC) 86,971 86,971 86,971

Ecosouth Hotel Ventures, Inc. 31,999,126 31,999,126 31,999,126

Laguna Technopark, Inc. 18,262,450 18,262,450 18,262,450

NorthBeacon Commercial Corporation (NBCC) 22,158,441 22,158,441 22,158,441


Serendra, Inc. 644,185,039 644,185,039 644,185,039

Southcrest Hotel Ventures, Inc. 481,359,928 481,359,928 481,359,928

Subic Bay Town Centre, Inc. 523,300,491 523,300,491 523,300,491




Receivable Balance

per Ayalaland Hotels

and Resorts

Corporation

Payable Balance per



Ayala Land Hotels, Inc. 2,579,243Php 2,579,243Php 2,579,243Php -Php


Receivable Balance

per Aurora Properties

Incorporated

Payable Balance per



Avida Land Corporation and Subsidiaries 268,723Php 268,723Php 268,723Php -Php

Ceci Realty, Inc. 8,115 8,115 8,115 -

Vesta Property Holdings, Inc. 27,739 27,739 27,739 -

Sub-Total 304,577Php 304,577Php 304,577Php -Php

Receivable Balance

per Vesta Property

Holdings, Inc.

Payable Balance per



Avida Land Corporation and Subsidiaries 161,817,796Php 161,817,796Php 161,817,796Php -Php


Receivable Balance

per CECI Realty, Inc.

Payable Balance per



Aurora Properties Incorporated 13,977,312Php 13,977,312Php 13,977,312Php -Php

Avida Land Corporation and Subsidiaries 677,824 677,824 677,824



Receivable Balance

per Studio Ventures,

Inc.

Payable Balance per



MZM Realty Holdings, Inc. 929,918Php 929,918Php 929,918Php -Php


Amount Owed by ALI Subsidiaries to Aurora Properties Incorporated

Amount Owed by ALI Subsidiaries to Vesta Property Holdings, Inc.

Amount Owed by ALI Subsidiaries to CECI Realty, Inc.

Amount Owed by ALI Subsidiaries to Studio Ventures, Inc.

Amount Owed by ALI Subsidiaries to Ayalalaland Hotels and Resorts Corporation

Amount Owed by ALI Subsidiaries to Makati Development Corporation (MDC)

57

Receivable Balance

per Avida Land Corp.

& Subsidiaries

Payable Balance per



Aurora Properties Incorporated 14,431,140Php 14,431,140Php 14,431,140Php -Php

Ayala Land International Sales, Inc. 495,811 495,811 495,811

Ayala Theatres Management, Inc. and Subsidiaries 69,503 69,503 69,503

Alveo Land Corporation 34,075 34,075 34,075

Amaia Land Co. (Amaia) (formerly First Realty Communities, Inc.) 3,339,024 3,339,024 3,339,024


Receivable Balance

per Serendra, Inc.

Payable Balance per



Ayala Property Management Corporation 119,278Php 119,278Php 119,278Php -Php


Receivable Balance

per Amaia Land Co.

Payable Balance per



Avida Land Corporation and Subsidiaries 834,210Php 834,210Php 834,210Php -Php

Bellavita Land Corporation 65,668 65,668 65,668


Receivable Balance

per Ten Knots

Philippines, Inc.

Payable Balance per



Ten Knots Development, Corp. 702,776Php 702,776Php 702,776Php -Php


Receivable Balance

per Primavera

Towncentre, Inc.

Payable Balance per



Ceci Realty, Inc. 1,441,483Php 1,441,483Php 1,441,483Php -Php


Receivable Balance

per Aprisa Business

Process Solutions, Inc.

Payable Balance per



Accendo Commercial Corp. (Accendo) 1,050,774Php 1,050,774Php 1,050,774Php -Php

Aurora Properties Incorporated 374,042 374,042 374,042

Ceci Realty, Inc. 289,603 289,603 289,603

North Beacon Commercial Corporation (NBCC) 410,760 410,760 410,760

Subic Bay Town Centre, Inc. 493,084 493,084 493,084

Vesta Property Holdings, Inc. 274,887 274,887 274,887


Amount Owed by ALI Subsidiaries to Avida Land Corporation and Subsidiaries

Amount Owed by ALI Subsidiaries to Serendra, Inc.

Amount Owed by ALI Subsidiaries to Amaia Land Co.

Amount Owed by ALI Subsidiaries to Ten Knots Philippines, Inc.

Amount Owed by ALI Subsidiaries to Primavera Towncentre, Inc.

Amount Owed by ALI Subsidiaries to Aprisa Business Process Solutions, Inc.

58

Receivable Balance

per Ecoholdings, Inc.

Payable Balance per



Ten Knots Development, Corp. 673,065,746Php 673,065,746Php 673,065,746Php -Php



Receivable Balance

per ALI

Payable Balance per



ALI Property Partners Corp. (APPCo) 1,400,000,000Php 1,400,000,000Php 1,400,000,000Php -Php

Makati Development Corporation 900,000,000 900,000,000 900,000,000


Total Eliminated Receivables 17,760,512,654Php 17,760,512,654Php 17,760,512,654Php -Php

Amount Owed by ALI Subsidiaries to ALI

Amount Owed by ALI Subsidiaries to Ecoholdings, Inc.

59


Schedule D - Intangible Assets - Other Assets


DESCRIPTIONBEGINNING

BALANCE

ADDITIONS AT

COST

CHARGED TO

COSTS &

EXPENSES

CHARGED TO

OTHER ACCTS

OTHER CHANGES

ADDITIONS

(DEDUCTIONS)

ENDING BALANCE

Lease Right 1/ 120,171,933Php -Php (6,676,219)Php -Php -Php 113,495,714Php

Goodwill 2/ - 393,630,450 - 393,630,450

120,171,933Php 393,630,450Php (6,676,219)Php -Php -Php 507,126,164Php

1/ Leaseright pertains to the right to use an island property expiring on December 31, 2029.

2/Goodwill pertains to the excess of acquisition cost of AHRC over fair value of acquired net assets of AMHRI and AMPHI.

These intangible assets were included under non-current assets.

60


SCHEDULE E - LONG-TERM DEBT

As

of

De

ce

mb

er

31

, 2

01

2

TITLE OF ISSUE & TYPE OF OBLIGATION

AMOUNT

AUTHORIZED BY

INDENTURE

CURRENT PORTION

OF LONG-TERM

DEBT

LONG-TERM DEBT

(NET OF CURRENT

PORTION)

Interest Rate

No. of Periodic

Installment

Maturity Date

Ayala Land, Inc.:

BONDS

Philippine P

eso 5-Year Bond

4,000,000,000

Php

4,000,000,000

Php

-Php

8.750%

N/A

2013

Philippine P

eso Homestarter Bond

1,008,000,000

630,680,000

5.000%

N/A

2013

Philippine P


2,016,000,000

397,705,000

5.000%

N/A

2014

Philippine P


1,000,000,000

999,950,000

5.000%

N/A

2015

Philippine P

eso 7-Year Bond

9,350,000,000

9,350,000,000

5.625%

N/A

2019

Philippine P

eso 10-Y

ear Bond

5,650,000,000

5,650,000,000

6.000%

N/A

2022

Philippine Peso 7-year FRCN

1,000,000,000

1,000,000,000

Floating

N/A

2016

Philippine Peso FXCNs

5-year

220,000,000

220,000,000

7.755%

N/A

2014

7-year

830,000,000

830,000,000

8.455%

32016

10-year

1,330,000,000

1,330,000,000

8.900%

62019


5-year

5,700,000,000

5,700,000,000

5.625%

32016

10-year

3,300,000,000

3,300,000,000

6.875%

62021

15-year

1,000,000,000

1,000,000,000

7.575%

11

2026

U.S Dollar Denominated 6-year Term Loan due 2018

2,402,861,750

2,402,861,750

Floating

62023


Due 2013

250,000,000

195,000,000

-

7.375%

N/A

2013

Due 2016

920,000,000

100,000,000

7.750%

N/A

2016

Philippine Peso 7- year FXCNs due 2023

3,500,000,000

3,500,000,000

Floating

33

2023

Sub-Total

43,476,861,750

Php

4,825,680,000

Php

35,780,516,750

Php

Subsidiaries:

Bank Loan (

BP

I)Various

363,138,557

Php

7,590,999,675

Php

Fixed and Floating rates, various

Various

Various from 2014 to 2017

Bank Loan (

Ch

ina

Ba

nk

)Various

59,399,139

3,014,463,361


Various

Various 2014 to 2018

Bank Loan (

RC

BC

)Various

10,000,000

2,557,500,000


Various

Various 2014 to 2018

Bank Loan (

La

nd

Ba

nk

of

the

Ph

il)Various

6,250,000

2,542,187,500

Floating rates

Various


Bank Loan (

Se

cu

rity

Ba

nk

)Various

621,166,000

1,101,067,000


Various


Bank Loan (

DB

P)

Various

495,000,000

832,500,000

Floating rate

Various

2014

Bank Loan (

Me

tro

Ba

nk

)Various

6,200,000

563,687,500

Fixed rates, various

Various

2015

Sub-Total

1,561,153,697

Php

18,202,405,035

Php

6,386,833,697

Php

53,982,921,785

Php

61


SCHEDULE F - Indebtedness to Related Parties

(Long Term Loans from Related Companies)


BALANCE AT BALANCE AT

BEGINNING OF END OF

PERIOD PERIOD

The total amount of long-term loans from related parties are less than 5% of the total assets

NAME OF RELATED PARTY

of the Group as of December 31, 2012 and 2011.

NOT APPLICABLE

62


SCHEDULE G - GUARANTEES OF SECURITIES OF OTHER ISSUERS


NAME OF ISSUING ENTITY OF

SECURITIES GUARANTEED

BY THE COMPANY FOR W/C

THIS STATEMENT IS FILED

TITLE OF ISSUE OF EACH

CLASS OF SECURITIES

GUARANTEED

TOTAL AMOUNT

GUARANTEED &

OUTSTANDING

AMOUNT OWNED BY

PERSON FOR W/C

STATEMENT IS FILED

NATURE OFGUARANTEE

NOT APPLICABLE

63


SCHEDULE H- CAPITAL STOCK


\

ISSUED SUBSCRIBEDTREASURY

SHARESTOTAL

Common Stock 20,000,000,000 13,729,402,736 102,158,868 (79,528,228) 13,752,033,376 45,700,462 6,962,086,216 109,334,675

Preferred Stock 28,000,000,000 26,101,098,640 (13,034,603,880) 13,066,494,760

OTHERSTITLE OF ISSUE

NUMBER OF

SHARES

AUTHORIZED

NUMBER OF SHARES ISSUED AND OUTSTANDING AT SHOWN UNDER

RELATED BALANCE SHEET CAPTION

NUMBER OF

SHARES

RESERVED FOR

OPTIONS,

WARRANTS,

CONVERSION

AND OTHER

RIGHTS

NUMBER OF

SHARES HELD BY

RELATED PARTIES

DIRECTORS,

OFFICERS AND

EMPLOYEES

64

AYALA LAND, INC.

SCHEDULE I - RECONCILIATION OF RETAINED EARNINGS AVAILABLE FOR DIVIDEND DECLARATION

December 31, 2012

Unappropriated Retained Earnings, beginning 21,006,912,237Php

Less adjustments:

Deferred tax assets (942,010,485)Php

Treasury shares (823,967,469) (1,765,977,954)

Unappropriated Retained Earnings, as adjusted, beginning 19,240,934,283

Net Income based on the face of AFS 5,510,695,991Php

Less: Non-actual/unrealized income net of tax

Equity in net income of associate/joint venture

Unrealized foreign exchange gain - net (except those

attributable to Cash and Cash Equivalents) Unrealized actuarial gain

Fair value adjustment (M2M gains)

Fair value adjustment of Investment Property resulting to gain

adjustment due to deviation from PFRS/GAAP-gain

Other unrealized gains or adjustments to the retained earnings as a

result of certain transactions accounted for under the PFRS (593,852,588)

Add: Non-actual losses

Depreciation on revaluation increment (after tax)

Adjustment due to deviation from PFRS/GAAP – loss

Loss on fair value adjustment of investment property (after tax)

Net Income Actual/Realized 4,916,843,403

Less: Other adjustments

Amount of provision for deferred tax during the year (60,772,609)

Dividend declarations during the period (2,902,133,399)

Treasury shares (1,303,460,389) 650,477,007

Unappropriated Retained Earnings, as adjusted, ending 19,891,411,290Php

65

Investments in Jointly Controlled Entities

Investments in Associates

*Pe

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hip

as

of

De

ce

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er

31

, 2

01

2.

Ayala Land, Inc. & Subsidiaries

Schedule J - Map of Relationships of the Companies within the Group

De

ce

mb

er

31

, 2

01

2

68

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as

75

.2%

eff

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ip a

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f D

ec

em

be

r 3

1,

20

12

.

70

Direct Investments in Jointly Controlled Entities

Direct Investments in Associates

71

Ayala Land, Inc. & Subsidiaries

SCHEDULE K - LIST OF APPLICABLE STANDARDS AND INTERPRETATIONS

December 31, 2012

PHILIPPINE FINANCIAL REPORTING STANDARDS AND

INTERPRETATIONS

Effective as of December 31, 2012

Adopted Not Adopted Not

Applicable

Framework for the Preparation and Presentation of Financial Statements

Conceptual Framework Phase A: Objectives and qualitative characteristics

��

PFRSs Practice Statement Management Commentary ��

Philippine Financial Reporting Standards

PFRS 1

(Revised)

First-time Adoption of Philippine Financial Reporting Standards ��

Amendments to PFRS 1 and PAS 27: Cost of an Investment in a

Subsidiary, Jointly Controlled Entity or Associate

��

Amendments to PFRS 1: Additional Exemptions for First-time

Adopters

��

Amendment to PFRS 1: Limited Exemption from Comparative

PFRS 7 Disclosures for First-time Adopters

��

Amendments to PFRS 1: Severe Hyperinflation and Removal of

Fixed Date for First-time Adopters

��

Amendments to PFRS 1: Government Loans ��

PFRS 2 Share-based Payment ��

Amendments to PFRS 2: Vesting Conditions and Cancellations ��

Amendments to PFRS 2: Group Cash-settled Share-based

Payment Transactions

��

PFRS 3

(Revised)

Business Combinations ��

PFRS 4 Insurance Contracts ��

Amendments to PAS 39 and PFRS 4: Financial Guarantee

Contracts

��

PFRS 5 Non-current Assets Held for Sale and Discontinued Operations ��

PFRS 6 Exploration for and Evaluation of Mineral Resources ��

PFRS 7 Financial Instruments: Disclosures ��

Amendments to PFRS 7: Transition

Amendments to PAS 39 and PFRS 7: Reclassification of

Financial Assets

��


Financial Assets – Effective Date and Transition

��

Amendments to PFRS 7: Improving Disclosures about Financial

Instruments

��

Amendments to PFRS 7: Disclosures - Transfers of Financial

Assets

��

Amendments to PFRS 7: Disclosures – Offsetting Financial

Assets and Financial Liabilities Not Early

Adopted

Amendments to PFRS 7: Mandatory Effective Date of PFRS 9

and Transition Disclosures

Not Early

Adopted

PFRS 8 Operating Segments ��

72


INTERPRETATIONS



Applicable

PFRS 9 Financial Instruments Not Early

Adopted

Amendments to PFRS 9: Mandatory Effective Date of PFRS 9

and Transition Disclosures

Not Early

Adopted

PFRS 10 Consolidated Financial Statements Not Early

Adopted

PFRS 11 Joint Arrangements Not Early

Adopted

PFRS 12 Disclosure of Interests in Other Entities Not Early

Adopted

PFRS 13 Fair Value Measurement Not Early

Adopted

Philippine Accounting Standards

PAS 1

(Revised)

Presentation of Financial Statements ��

Amendment to PAS 1: Capital Disclosures ��

Amendments to PAS 32 and PAS 1: Puttable Financial

Instruments and Obligations Arising on Liquidation

��

Amendments to PAS 1: Presentation of Items of Other

Comprehensive Income

Not Early

Adopted

PAS 2 Inventories ��

PAS 7 Statement of Cash Flows ��

PAS 8 Accounting Policies, Changes in Accounting Estimates and

Errors

��

PAS 10 Events after the Balance Sheet Date ��

PAS 11 Construction Contracts ��

PAS 12 Income Taxes ��

Amendment to PAS 12 - Deferred Tax: Recovery of Underlying

Assets

��

PAS 16 Property, Plant and Equipment ��

PAS 17 Leases ��

PAS 18 Revenue ��

PAS 19 Employee Benefits ��

Amendments to PAS 19: Actuarial Gains and Losses, Group

Plans and Disclosures

��

PAS 19

(Amended)

Employee Benefits Not Early

Adopted

PAS 20 Accounting for Government Grants and Disclosure of

Government Assistance

��

PAS 21 The Effects of Changes in Foreign Exchange Rates ��

Amendment: Net Investment in a Foreign Operation ��

PAS 23

(Revised)

Borrowing Costs ��

PAS 24 Related Party Disclosures ��

73


INTERPRETATIONS



Applicable

(Revised)

PAS 26 Accounting and Reporting by Retirement Benefit Plans ��

PAS 27

(Amended)

Separate Financial Statements Not Early

Adopted

PAS 28

(Amended)

Investments in Associates and Joint Ventures Not Early

Adopted

PAS 29 Financial Reporting in Hyperinflationary Economies ��

PAS 31 Interests in Joint Ventures ��

PAS 32 Financial Instruments: Disclosure and Presentation ��

Amendments to PAS 32 and PAS 1: Puttable Financial

Instruments and Obligations Arising on Liquidation

��

Amendment to PAS 32: Classification of Rights Issues ��

Amendments to PAS 32: Offsetting Financial Assets and

Financial Liabilities

Not Early

Adopted

PAS 33 Earnings per Share ��

PAS 34 Interim Financial Reporting ��

PAS 36 Impairment of Assets ��

PAS 37 Provisions, Contingent Liabilities and Contingent Assets ��

PAS 38 Intangible Assets ��

PAS 39 Financial Instruments: Recognition and Measurement ��

Amendments to PAS 39: Transition and Initial Recognition of

Financial Assets and Financial Liabilities

��

Amendments to PAS 39: Cash Flow Hedge Accounting of

Forecast Intragroup Transactions

��

Amendments to PAS 39: The Fair Value Option ��

Amendments to PAS 39 and PFRS 4: Financial Guarantee

Contracts

��


Financial Assets

��


Financial Assets – Effective Date and Transition

��

Amendments to Philippine Interpretation IFRIC–9 and PAS 39:

Embedded Derivatives

��

Amendment to PAS 39: Eligible Hedged Items ��

PAS 40 Investment Property ��

PAS 41 Agriculture ��

Philippine Interpretations

IFRIC 1 Changes in Existing Decommissioning, Restoration and Similar

Liabilities

��

IFRIC 2 Members' Share in Co-operative Entities and Similar

Instruments

��

IFRIC 4 Determining Whether an Arrangement Contains a Lease ��

74


INTERPRETATIONS



Applicable

IFRIC 5 Rights to Interests arising from Decommissioning, Restoration

and Environmental Rehabilitation Funds

��

IFRIC 6 Liabilities arising from Participating in a Specific Market -

Waste Electrical and Electronic Equipment

��

IFRIC 7 Applying the Restatement Approach under PAS 29 Financial

Reporting in Hyperinflationary Economies

��

IFRIC 8 Scope of PFRS 2 ��

IFRIC 9 Reassessment of Embedded Derivatives ��

Amendments to Philippine Interpretation IFRIC–9 and PAS 39:

Embedded Derivatives

��

IFRIC 10 Interim Financial Reporting and Impairment ��

IFRIC 11 PFRS 2- Group and Treasury Share Transactions ��

IFRIC 12 Service Concession Arrangements ��

IFRIC 13 Customer Loyalty Programmes ��

IFRIC 14 The Limit on a Defined Benefit Asset, Minimum Funding

Requirements and their Interaction

��

Amendments to Philippine Interpretations IFRIC- 14,

Prepayments of a Minimum Funding Requirement

��

IFRIC 16 Hedges of a Net Investment in a Foreign Operation ��

IFRIC 17 Distributions of Non-cash Assets to Owners ��

IFRIC 18 Transfers of Assets from Customers ��

IFRIC 19 Extinguishing Financial Liabilities with Equity Instruments ��

IFRIC 20 Stripping Costs in the Production Phase of a Surface Mine ��

SIC-7 Introduction of the Euro ��

SIC-10 Government Assistance - No Specific Relation to Operating

Activities

��

SIC-12 Consolidation - Special Purpose Entities ��

Amendment to SIC - 12: Scope of SIC 12 ��

SIC-13 Jointly Controlled Entities - Non-Monetary Contributions by

Venturers

��

SIC-15 Operating Leases - Incentives ��

SIC-21 Income Taxes - Recovery of Revalued Non-Depreciable Assets ��

SIC-25 Income Taxes - Changes in the Tax Status of an Entity or its

Shareholders

��

SIC-27 Evaluating the Substance of Transactions Involving the Legal

Form of a Lease

��

SIC-29 Service Concession Arrangements: Disclosures. ��

SIC-31 Revenue - Barter Transactions Involving Advertising Services ��

SIC-32 Intangible Assets - Web Site Costs ��

75


SCHEDULE L - FINANCIAL RATIOS

December 31, 2012

2012 2011

Current / liquidity ratios

Current Assets 101,283,500 75,316,642

Current liabilities 72,253,210 45,629,278

Current ratios 140.2% 165.1%

Current Assets 101,283,500 75,316,642

Inventory 24,070,387 21,908,571

Quick assets 77,213,113 53,408,071

Current liabilities 72,253,210 45,629,278

Quick ratios 106.9% 117.0%

2012 2011

Solvency/ debt-to-equity ratios

Short-term debt 9,282,831 4,638,844

Current portion of long-term debt 6,386,834 1,556,761

Long-term debt - net of current portion 53,780,786 28,257,970

Debt 69,450,451 34,453,575

Equity 91,545,227 72,042,512

Less: Noncontrolling interest 9,230,018 9,685,546

Equity attributable to parent 82,315,209 62,356,966

Less: Unrealized gain - AFS 39,564 53,909

Equity, net of unrealized gain 82,275,645 62,303,057

Debt to equity ratio 84.4% 55.3%

Debt 69,450,451 34,453,575

Cash and cash equivalents 28,596,398 24,603,713

Short term investments 16,503 191,487

Financial assets at FV through P&L 713,716 -

Net Debt 40,123,834 9,658,375

Equity 82,275,645 62,303,057

Net Debt to equity ratio 48.8% 15.5%

(AMOUNTS IN THOUSANDS)


76

2012 2011

Asset to equity ratios

Total Assets 231,232,383 154,541,983

Total Equity 82,275,645 62,303,057

Asset to Equity Ratio 281.0% 248.0%

2012 2011

Interest rate coverage ratio

Net income after tax 10,334,389 8,090,583

Add:

provision for income tax 2,892,096 2,619,145

Interest expense and other financing charges 3,050,854 1,879,770

Other charges 365,446 195,292

6,308,396 4,694,207

Less:

Interest and investment income 2,725,377 1,658,896

Other income 560,851 417,253

3,286,228 2,076,149

EBIT 13,356,557 10,708,641

Depreciation and amortization 2,089,795 2,310,389

EBITDA 15,446,352 13,019,030

Interest expense 2,265,272 1,838,897

Short-term debt 152,008 131,592

Long-term debt 2,113,264 1,707,305

Interest rate coverage ratio 6.8 7.1



77

2012 2011

Profitability ratios

Net Income Attributable to Equity holders of Ayala

Land, Inc. 9,038,328 7,140,308

Revenue 54,524,816 44,205,533

Net income margin 16.6% 16.2%


Total Assets CY 231,232,383 154,541,983

Total Assets PY 154,541,983 121,675,262

Average Total Assets 192,887,183 138,108,623

Return on total assets 5.4% 5.9%


Total Equity-CY 91,545,227 72,042,512

Total Equity-PY 72,042,512 65,470,128

Average total equity 81,793,870 68,756,320

Return on Equity 12.6% 11.8%


ayala land, inc. index to exhibits form 17-a – item 7 no. 352-2013 - ayala...ayala land, inc....

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