Consolidated Statements of Financial Position

As of December 31, 2021, 2020 and 2019
(In thousands of pesos)

	Note		2021		2020		2019
Asset
Current assets:
Cash and cash equivalents	3	$	7,304,948	$	3,990,572	$	1,690,176
Accounts and documents receivable	4		10,328,759		9,672,850		11,872,111
Recoverable taxes, mainly value added tax	5		628,391		1,336,751		1,338,688
Inventories	6		11,343,616		10,565,273		12,549,667
Prepaid expenses			44,400		98,611		78,500
Total current assets			29,650,114		25,664,057		27,529,142
Non-current assets:
Long-term accounts receivable	4		1,162,751		1,297,214		1,488,146
Property, plant and equipment	11		12,220,130		13,114,892		14,102,299
Investment properties	12		2,495,808		2,462,521		2,507,271
Lease right-of-use assets	7		3,976,812		4,399,663		5,158,750
Investment in shares of associated and others	13		2,602,435		2,637,548		3,524,415
Employee retirement benefits	16		901,211		820,200		226,361
Deferred income taxes	23		1,970,337		1,841,898		1,922,791
Other assets, Net			195,005		317,381		232,900
Total non-current assets			25,524,489		26,891,317		29,162,933
Total assets		$	55,174,603	$	52,555,374	$	56,692,075
Liabilities
Current liabilities:
Trade accounts payable		$	9,069,049	$	8,361,528	$	8,684,657
Lease liabilities	8		1,153,792		1,118,214		1,243,500
Other accounts payable and accrued liabilities	14		3,016,692		3,052,292		4,247,596
Due to related parties	18		701,564		524,736		530,398
Provisions	15		222,479		178,458		129,731
Direct employee benefits			447,490		308,689		522,011
Current portion of long-term income tax payable	23e		104,898		27,952		233,030
Income tax payable			174,819		118,552		541,085
Total current liabilities			14,890,783		13,690,421		16,132,008
Non-current liabilities:
Income tax payable long-term	23f		238,919		296,738		500,439
Employee retirement benefits	16		106,380		57,328		717,578
Deferred income taxes	23b		1,080,477		1,072,577		1,202,934
Other liabilities			18,412		18,047		18,391
Lease liabilities	8		3,613,903		4,111,957		4,964,449
Total non-current liabilities			5,058,091		5,556,647		7,403,791
Total liabilities			19,948,874		19,247,068		23,535,799
Stockholders’ equity
Stockholders’ equity:
Capital stock	17		1,968,424		1,975,283		1,977,520
Additional paid - in capital			10,896,604		10,896,604		10,896,604
Accumulated earnings			23,187,423		21,606,876		20,940,908
Other comprehensive loss items			(1,957,146)		(2,050,886)		(1,953,962)
Controlling interest			34,095,305		32,427,877		31,861,070
Non-controlling interest			1,130,424		880,429		1,295,206
Total stockholders’ equity			35,225,729		33,308,306		33,156,276
Total liabilities and stockholders’ equity		$	55,174,603	$	52,555,374	$	56,692,075

See accompanying notes to consolidated financial statements.