SEC Form 20-IS - iRemit Global Remittance

- 31 -
2009
Balance Sheets Statements of Income
Total Total
Gross Net Income
Assets
(In thousands)
Liabilities Revenue Income (Loss)
Subsidiaries:
PSAGL P=156,824 P=19,388 P=55,647 P=55,480 P=86,354
IRCL 81,580 60,602 112,284 99,665 6,725
IRCGmbH 57,672 7,355 10,750 9,146 (17,022)
IGRL 16,217 14,018 62,353 46,910 1,003
WEPL 27,696 23,595 33,940 32,627 2,975
LSML 21,719 17,771 21,404 21,392 2,236
INZL 13,113 17,987 8,243 7,580 (2,654)
IAPL 28,877 25,058 590 244 3,719
Associates:
403,698 185,774 305,211 273,044 83,336
ISPL 74,159 42,914 38,046 37,708 13,027
HKHCL 31,970 30,572 21,096 14,295 (966)
P=509,827 P=259,260 P=364,353 P=325,047 P=95,397
11. Property and Equipment
The composition of and movements in this account follow:
Office and
Communication
Equipment
Transportation
and Delivery
Equipment
2011
Furniture
and Fixtures
Leasehold
Improvements Total
Cost
Balance at beginning of year P=25,050,187 P=6,834,602 P=3,779,467 P=11,795,343 P=47,459,599
Additions 2,222,849 35,315 285,181 50,000 2,593,345
Disposals – – (10) – (10)
Balance at end of year 27,273,036 6,869,917 4,064,638 11,845,343 50,052,934
Accumulated Depreciation and
Amortization
Balance at beginning of year 21,499,889 2,944,869 2,984,108 10,537,618 37,966,484
Depreciation and amortization 2,483,026 1,309,027 414,913 785,010 4,991,976
Balance at end of year 23,982,915 4,253,896 3,399,021 11,322,628 42,958,460
Net Book Value at End of Year P=3,290,121 P=2,616,021 P=665,617 P=522,715 P=7,094,474
Office and
Communication
Equipment
Transportation
and Delivery
Equipment
2010
Furniture
and Fixtures
Leasehold
Improvements Total
Cost
Balance at beginning of year P=22,623,757 P=5,920,959 P=3,692,945 P=11,762,843 P=44,000,504
Additions 2,621,930 3,116,461 177,934 32,500 5,948,825
Disposals (195,500) (2,202,818) (91,412) – (2,489,730)
Balance at end of year 25,050,187 6,834,602 3,779,467 11,795,343 47,459,599
Accumulated Depreciation and
Amortization
Balance at beginning of year 18,066,791 2,350,632 2,594,128 9,227,166 32,238,717
Depreciation and amortization 3,521,442 1,303,027 415,880 1,310,452 6,550,801
Disposals (88,344) (708,790) (25,900) – (823,034)
Balance at end of year 21,499,889 2,944,869 2,984,108 10,537,618 37,966,484
Net Book Value at End of Year P=3,550,298 P=3,889,733 P=795,359 P=1,257,725 P=9,493,115
As of December 31, 2011 and 2010, the cost of fully depreciated property and equipment still in
use amounted to P=23.13 million and P=22.64 million, respectively.
*SGVMC116501*