Consolidated statements of comprehensive income, expenses by function

For the years ended December 31, 2012 and 2011 (Thousands of pesos)

			December 31,
	Note			2012			2011
Operating revenue:
Net sales of merchandise	2.23		$	57,017,252		$	50,881,125
Interest earned from customers	2.23			5,352,964			4,577,386
Leasing of investment property	2.23			2,115,854			1,731,041
Services	2.23			1,760,434			1,467,257
Total revenue				66,246,504			58,656,809
Costs and expenses:
Cost of sales	21			39,526,608			34,932,775
Administration expenses	21			16,756,502			14,700,673
Total costs and expenses				56,283,110			49,633,448
Other income – net	22			342,682			204,454
Operating income				10,306,076			9,227,815
Financing costs	18			(985,129)			(847,293)
Interest earned on investments	7			200,660			227,312
Foreign exchange fluctuation – net				12,776			(7,669)
Equity in the results of associates	12			414,941			304,727
Pre–tax income				9,949,324			8,904,892
Taxes	23			2,750,744			2,360,947
Consolidated net income				7,198,580			6,543,945
Other items comprising comprehensive income:
Valuation of financial instruments contracted for cash flow hedging	10			95,026			(20,145)
Actuarial losses of employee benefits				(123,614)			(112,280)
Consolidated comprehensive income			$	7,169,992		$	6,411,520
Net income attributable to:
Owners of controlling company			$	7,197,700		$	6,543,365
Non–controlling interest				880			580
			$	7,198,580		$	6,543,945
Basic and diluted earnings per share	24		$	5.36		$	4.88
Comprehensive income attributable to:
Owners of controlling company			$	7,169,382		$	6,410,689
Non–controlling interest				610			831
			$	7,169,992		$	6,411,520
Basic and diluted earmings per share			$	5.34		$	4.78

The accompanying notes are an integral part of these consolidated financial statements.