Tenants likewise pay a fixed monthly rent which is shown under Other current

Tenants likewise pay a fixed monthly rent which is

This preview shows page 93 - 97 out of 152 pages.

lease agreement, tenants are required to pay certain amounts of deposits. Tenants likewise pay a fixed monthly rent which is shown under "Other current liabilities" account in the consolidated statements of financial position (see Note 15). Rent income recognized in profit or loss in 2018, 2017 and 2016 amounted P407.25 million, P388.65 million and P377.28 million, respectively (see Note 19). -45-
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The scheduled maturities of non-cancellable minimum future rental collections are as follows: 2018 2017 2016 Due within one year P260,144,891 P186,082,674 P213,715,008 Due more than one year but not more than five years 357,317,582 237,501,512 257,952,124 Due more than five years 95,071,499 100,983,790 148,073,465 P712,533,972 P524,567,976 P619,740,597 19. Other Operating Income This account consists of: Note 2018 2017 2016 Concession income 16 P1,878,358,992 P1,647,845,057 P1,517,079,129 Membership income 513,588,832 452,973,681 399,965,999 Rent income 18 407,251,364 388,645,067 377,280,913 Demo/sampling income 20,189,107 17,206,295 12,869,896 Miscellaneous 121,702,774 185,577,528 121,649,859 P2,941,091,069 P2,692,247,628 P2,428,845,796 Concession income pertains to the fixed percentage income from sales of concessionaire suppliers' goods sold inside the store. Membership income pertains to fees from members of Kareila, PPCI and Subic wherein such fees permit only membership, and all other services or products are paid for separately. Rent income relates to the income earned for the store spaces occupied by the tenants. Demo/sampling income pertains to the fee paid by the suppliers for the privilege granted by Kareila in allowing a representative of the supplier to conduct a demo or give away samples of their products inside the selling area of the stores. Miscellaneous account consists of amounts collected from the customers for delivering their purchases, cashiers' overages, sale of used packaging materials and others. -46-
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20. Operating Expenses This account consists of: Note 2018 2017 2016 Rent 18 P3,064,102,476 P2,714,659,830 P2,515,689,827 Manpower agency services 3,343,676,703 2,878,788,171 2,138,731,952 Communication, light and water 2,309,873,902 1,903,212,317 1,675,861,989 Salaries and wages 2,001,440,665 1,782,722,428 1,582,166,197 Depreciation and amortization 10, 11 1,895,646,980 1,639,123,164 1,408,708,815 Security services 906,924,442 887,991,211 841,058,213 Taxes and licenses 760,848,934 642,283,135 531,072,558 Store and office supplies 612,455,879 546,921,912 473,174,985 Concession expense 22 522,618,432 503,476,012 477,641,920 Repairs and maintenance 448,697,475 367,634,094 373,304,387 Advertising and marketing 324,960,422 313,162,379 248,211,832 Janitorial and messengerial services 206,482,215 183,991,134 424,688,008 Insurance 195,043,275 173,781,344 150,498,306 Other selling expenses 174,498,578 160,627,280 146,996,247 Retirement benefits cost 23 163,606,897 147,018,254 119,606,198 SSS/Medicare and HDMF contributions 145,969,132 131,018,960 115,952,911 Representation and entertainment 124,235,532 77,799,912 71,300,463 Transportation 100,711,654 61,816,122 58,414,418 Input VAT allocable to exempt sales 131,256,960 58,423,639 93,802,537 Fuel and oil 80,576,785 57,306,745 45,485,516 Royalty 22 54,342,743 46,331,866 42,220,356 Professional fee 35,001,282 30,844,191 32,461,112 Miscellaneous 237,268,109 206,694,553 140,354,269 P17,840,239,472 P15,515,628,653 P13,707,403,016 21. Others This account consists of: Note 2018 2017 2016 Gain on sale of investment in joint venture 9 P362,810,262 P - P Gain (loss) on insurance claim 3,351,032 (14,855,363) Dividend income 9 679,505 1,856,196 824,831 Gain on disposal of property and equipment 10 154,310 2,031 Foreign exchange loss (2,881,249) (122,754) (435,806) Unrealized valuation gain (loss) on trading securities 7 (10,385,284) 11,778,850 676,435 Bank charges (26,747,884) (20,953,904) (23,625,331) P326,980,692 (P22,296,975) (P22,557,840) Gain (loss) on insurance claim represents the excess of (short on) the insurance proceeds received over the cost of the inventories and machineries damaged by flood and fire. -47-
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22. Related Party Transactions Other than the items disclosed in Note 9, the Group's significant transactions and balances with related parties are as follows: Related Party Year Note Amount of Transactions for the Year Outstanding Balances Trade Receivable (see Note 5) Non Trade Receivable (see Note 5) Trade Payable
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