ASSETS AND LIABILITIES DENOMINATED IN FOREIGN CURRENCIES continued FINANCIAL RISK MANAGEMENT continued
42. FINANCIAL RISK MANAGEMENT continued
2. Fair value of financial assets and financial liabilities continued b. Classification and fair value continued December 31, 2014 Other Total Loans and Available for financial carrying Fair Trading receivables sale liabilities amount value Trade and other payables - - - 12,476 12,476 12,476 Accrued expenses - - - 5,211 5,211 5,211 Loans and other borrowings Short-term bank loans - - - 1,810 1,810 1,810 Long-term bank loans - - - 11,930 11,930 11,787 Obligation under finance lease - - - 4,789 4,789 4,789 Bonds and notes - - - 3,308 3,308 3,355 Two-step loans - - - 1,615 1,615 1,650 Total financial liabilities - - - 41,139 41,139 41,078 c. Fair value hierarchy The table below presents the recorded amount of financial assets measured at fair value and limited mutual funds participation unit for debt-based securities where the Net Asset Value PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2015 and for the Year Then Ended Figures in tables are expressed in billions of Rupiah, unless otherwise stated 13142. FINANCIAL RISK MANAGEMENT continued
2. Fair value of financial assets and financial liabilities continued c. Fair value hierarchy continued Available-for-sale financial assets primarily consist of mutual funds, and Corporate and Government bonds. Corporate and Government bonds are stated at fair value by reference to prices of similar securities at the reporting date. As they are not actively traded in an established market, these securities are classified as level 2. Financial asset at fair value through profit or loss represents the Put Option on the 20 remaining ownership in Indonusa which was received as part of the divestment considerations. Since the fair value is not observable and valuation technique is used to determine the fair value, this financial asset is classified as level 3. Mutual funds actively traded in an established market are stated at fair value using quoted market price and classified within level 1. The valuation of the mutual funds invested in Corporate and Government bonds and put option requires significant management judgment due to the absence of quoted market prices, the inherent lack of liquidity and the long-term nature of such assets. As these investments are subject to restrictions on redemption such as transfer restrictions and initial lock-up periods and observable activity for the investments is limited, these investments are therefore classified within level 3 of the fair value hierarchy. Management considers, among other assumptions, the valuation and quoted price of the arrangement of the mutual funds. Reconciliations of the beginning and ending balances for items measured at fair value using significant unobservable inputs level 3 as of December 31, 2015 and 2014 are as follows: 2015 2014 Beginning balance 290 297 Unrealized loss - recognized in consolidated statement of profit or loss and other comprehensive income 118 7 Ending balance 172 290 43. CAPITAL MANAGEMENT The capital structure of the Group is as follows: 2014 2015 As restated Amount Portion Amount Portion Short-term debts 602 0.55 1,810 1.98 Long-term debts 34,010 30.99 21,642 23.74 Total debts 34,612 31.54 23,452 25.72 Equity attributable to owners of the parent company 75,136 68.46 67,721 74.28 Total 109,748 100.00 91,173 100.00 PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2015 and for the Year Then Ended Figures in tables are expressed in billions of Rupiah, unless otherwise stated 13243. CAPITAL MANAGEMENT continued
The GroupParts
» Portfolio Strategy Our Portfolio Strategy is our strategy for the Parenting Strategy
» ThE AUDIT COMMITTEE ThE NOMINATION AND REMUNERATION COMMITTEE
» RISK PLANNING EVALUATION AND MONITORING COMMITTEE
» Ownership of Stocks by Directors and Commissioners
» Shareholders with Less than 5 Ownership
» Proportion of Common Stock held in Indonesia and Abroad List of the 20 Biggest Public Shareholders
» Corporate Oice AR TELKOM 2015 ENG.1
» Corporate Secretary AR TELKOM 2015 ENG.1
» Internal Auditor AR TELKOM 2015 ENG.1
» Sekretariat of President Director
» Director of human Capital Management
» Director of Consumer Service
» Directorate of Wholesale International Business Service
» Director of Innovations Strategic Portfolio
» Director of Network IT Solution
» Director of Enterprise Business Service
» Director of finance AR TELKOM 2015 ENG.1
» finance Billing Collection Center fBCC
» human Capital Business Partner Center
» Telkom Corporate University Center
» Supply Center AR TELKOM 2015 ENG.1
» Digital Service Division AR TELKOM 2015 ENG.1
» Community Development Center CDC
» Assessment Center Indonesia AR TELKOM 2015 ENG.1
» Information System Center ISC
» Enterprise Service Division AR TELKOM 2015 ENG.1
» Business Service Division AR TELKOM 2015 ENG.1
» Government Service Division AR TELKOM 2015 ENG.1
» Wholesale Service Division AR TELKOM 2015 ENG.1
» Planning Deployment Division AR TELKOM 2015 ENG.1
» Service Solution Division AR TELKOM 2015 ENG.1
» Operation Service Division AR TELKOM 2015 ENG.1
» Regional I Division of Sumatera
» Telkom Area Western North Sumatera
» Telkom Area Lampung AR TELKOM 2015 ENG.1
» Telkom Area Eastern North Sumatera
» Telkom Area Nanggroe Aceh Darussalam
» Telkom Area Jambi AR TELKOM 2015 ENG.1
» Telkom Area Bengkulu AR TELKOM 2015 ENG.1
» Regional Division II Jakarta
» Telkom Area West Banten Serang
» Telkom Area East Banten Tangerang
» Telkom Area West Java of Northern
» Telkom Area Western West Java
» Regional Division III West Java
» Telkom Area Northern West Java
» Telkom Area Southern West Java
» Telkom Area Central West Java
» Telkom Area Eastern West Java
» Telkom Area West Java of Eastern South
» Regional Division IV Central Java DI Yogyakarta
» Telkom Area Central Java of Western North
» Telkom Area Central Java of Wester South
» Telkom Area Northern Central Java
» Telkom Area Central Java of Eastern North
» Telkom Area Southern Central Java
» Telkom Area Yogyakarta AR TELKOM 2015 ENG.1
» Telkom Area Central Java of Eastern South
» Regional Division V East Java
» Telkom Area Western East Java
» Telkom Area Southern East Java
» Telkom Area Northern East Java
» Telkom Area East Java Suramadu
» Telkom Area East Java of Central East
» Telkom Area Eastern East Java
» 6,7 Telin Kingdom Saudi Arabia
» Mobile services AR TELKOM 2015 ENG.1
» fixed services AR TELKOM 2015 ENG.1
» Interconnection international traic AR TELKOM 2015 ENG.1
» network infrastructure AR TELKOM 2015 ENG.1
» Digital enterprise product portfolio
» Mobile cellular telephone tarifs
» interconnection tarifs Digital Consumer
» network lease tarifs Digital Consumer
» Contact centers AR TELKOM 2015 ENG.1
» partnership Stores AR TELKOM 2015 ENG.1
» authorized dealers and retail outlets
» account Manager AR TELKOM 2015 ENG.1
» Sales Specialist AR TELKOM 2015 ENG.1
» tele account Management AR TELKOM 2015 ENG.1
» Channel partner AR TELKOM 2015 ENG.1
» Digital touch point AR TELKOM 2015 ENG.1
» Website AR TELKOM 2015 ENG.1
» Current assets non Current assets
» Current liabilities non Current liabilities equity
» non Current liabilities liabilities dan equity
» Cellular telephone revenues Cellular telephone revenues increased by Rp2,995
» fixed lines revenues Fixed lines revenues decreased by Rp602 billion, or
» Data, internet and information technology Services revenues 3
» interconnection revenues Interconnection revenues comprised interconnection network revenues
» operations, Maintenance and telecommunication Service expenses
» Depreciation and amortization expenses
» personnel expenses Personnel expenses increased by Rp2,087 billion,
» general and administrative expenses General and administrative expenses increased by
» gain loss on foreign exchange - net Loss on foreign exchange - net increased by Rp32
» other expenses Other expenses increased by Rp1,521 billion, from
» operating proit and operating proit Margin
» proit before income tax and pre-tax Margin
» income tax expense AR TELKOM 2015 ENG.1
» other Comprehensive income AR TELKOM 2015 ENG.1
» proit for the year attributable to owners of the parent Company
» proit for the year attributable to non- controlling interest
» net Comprehensive income for the year
» Data, internet and information technology Services revenues
» operations, Maintenance and Depreciation and amortization expenses personnel expenses
» revenues operating proit and operating proit Margin proit before income tax and pre-tax Margin
» Comprehensive income for the year net income per Share
» Cash flows from investing activities Cash flows from financing activities
» Cash flows from operating activities
» Cash flows from investing activities
» Contractual obligation Cash flows from financing activities
» indebtedness 2,764 Cash flows from financing activities
» liquidity Sources Cash flows from financing activities
» internal liquidity Sources To fulill our obligations we rely primarily on our
» external outstanding liquidity Sources
» Current liabilities external liquidity Sources
» non-Current liabilities external liquidity Sources
» taxation in indonesia external liquidity Sources
» Dividend Dividen yang kami umumkan untuk dibagikan dari
» Certain Consideration regarding federal income tax in the U.S.a
» Capital gains threshold Classiication of passive foreign investment Company “piap”
» Dividends Any distribution of cash dividends paid by the Company
» Consequences of a piap In the event that the Company is classiied as a PIAP
» investment income tax reserves and information Disclosure requirements
» Metra On November 30, 2015, Metra acquired 13,850 shares of
» expansion telin On May 19, 2015, Pachub Acquisition Co. On
» Divestation telin On May 19, 2015, Pachub Acquisition Co. On
» acquisition telin On May 19, 2015, Pachub Acquisition Co. On
» bond issued telin On May 19, 2015, Pachub Acquisition Co. On
» land rights Based on PSAK, land rights is listed as a ixed asset and
» transaction with related parties Based on Bapepam-LK Regulation No. VIII.G.7 regarding
» telecommunications law AR TELKOM 2015 ENG.1
» telecommunications regulators AR TELKOM 2015 ENG.1
» Classiication and licensing of telecommunications providers
» introduction of Competition in the indonesian telecommunications industry
» DlD Services AR TELKOM 2015 ENG.1
» Cellular AR TELKOM 2015 ENG.1
» interconnection AR TELKOM 2015 ENG.1
» Satellite AR TELKOM 2015 ENG.1
» Consumer protection AR TELKOM 2015 ENG.1
» telecommunication regulatory Charges AR TELKOM 2015 ENG.1
» telecommunications towers AR TELKOM 2015 ENG.1
» the implementation of e-learning and assessment
» Spiritual Capital Management Content provider Service
» gratiication Control Content provider Service
» Internal Control Content provider Service
» Corporate Strategic Scenario “CSS”
» enterprise risk Management AR TELKOM 2015 ENG.1
» board of Directors measures requiring the approval of the board of Commissioners
» Management report on internal Control over financial reporting
» attestation report of the registered public accounting firm
» Changes in internal Control over financial reporting
» eforts to add value to the management of the company
» enterprise risk Management erM governance
» the process of building and maintaining enterprise risk Management erM
» assessment of the efectiveness of the Implementation of Risk management
» Sharing Session and Recognition of External parties
» development of Risk management Competence
» Macro economic risks AR TELKOM 2015 ENG.1
» Disaster risks AR TELKOM 2015 ENG.1
» risks related to our business
» operational risks AR TELKOM 2015 ENG.1
» financial risks AR TELKOM 2015 ENG.1
» regulation risks AR TELKOM 2015 ENG.1
» risks related to our fixed and Cellular telecommunication business
» violation of regulations risks related to Development of new businesses
» fraud andor corruption allegation
» Code of ethics risks related to Development of new businesses
» inDoneSian legal revieW risks related to Development of new businesses
» CoMMitteeS DiSCloSUre in relation WitH Corporate governanCe CoDe of etHiCS anD bUSineSS ConDUCt
» Efectiveness of the Distribution of Partnership Program Fund
» Partnership Program Refund Collectability
» Assistance for Victims of Natural Disasters
» Education and Training Assistance Public Health Assistance
» Assistance to Public Facilities
» Promotion and Marketing The Company provided development assistance in
» Assistance in Poverty Alleviation GENERAL a. Establishment and general information
» GENERAL continued a. Establishment and general information continued
» GENERAL continued b. Company
» GENERAL continued d. Subsidiaries continued
» Principles of consolidation SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
» Transactions with related parties
» SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued e. Cash and cash equivalents
» SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued g. Trade and other receivables
» Property and equipment SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued k. Intangible assets
» Leases SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued l.
» Deferred charges - land rights
» Borrowings SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued m. Leases continued
» Income tax SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued s. Employee benefits continued
» SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued u. Financial instruments continued
» SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued v. Treasury stock
» BUSINESS COMBINATIONS AR TELKOM 2015 ENG.1
» CASH AND CASH EQUIVALENTS continued OTHER CURRENT FINANCIAL ASSETS
» TRADE RECEIVABLES TRADE RECEIVABLES continued TRADE RECEIVABLES continued
» INVENTORIES 2015 AR TELKOM 2015 ENG.1
» ADVANCES AND PREPAID EXPENSES 2015 LONG-TERM INVESTMENTS
» LONG-TERM INVESTMENTS continued AR TELKOM 2015 ENG.1
» LONG-TERM INVESTMENTS continued PROPERTY AND EQUIPMENT continued
» PROPERTY AND EQUIPMENT continued
» PROPERTY AND EQUIPMENT continued PROPERTY AND EQUIPMENT continued
» INTANGIBLE ASSETS AR TELKOM 2015 ENG.1
» UNEARNED INCOME 2015 AR TELKOM 2015 ENG.1
» SHORT-TERM BANK LOANS SHORT-TERM BANK LOANS continued
» TWO-STEP LOANS continued AR TELKOM 2015 ENG.1
» BANK LOANS AR TELKOM 2015 ENG.1
» BANK LOANS continued AR TELKOM 2015 ENG.1
» BANK LOANS continued BANK LOANS continued
» BANK LOANS continued NON-CONTROLLING INTERESTS continued
» CAPITAL STOCK ADDITIONAL PAID-IN CAPITAL 2015
» TREASURY STOCK continued AR TELKOM 2015 ENG.1
» REVENUES continued 2015 AR TELKOM 2015 ENG.1
» TAXATION TAXATION continued AR TELKOM 2015 ENG.1
» TAXATION continued TAXATION continued
» TAXATION continued AR TELKOM 2015 ENG.1
» Prepaid pension benefit costs
» Sensitivity Analysis PENSION AND OTHER POST-EMPLOYMENT BENEFITS continued
» CASH DIVIDENDS AND GENERAL RESERVE POST-EMPLOYMENT HEALTH CARE BENEFITS PROVISIONS
» POST-EMPLOYMENT HEALTH CARE BENEFITS PROVISIONS continued
» POST-EMPLOYMENT HEALTH CARE BENEFITS PROVISIONS continued RELATED PARTY TRANSACTIONS
» 6,316 2015 RELATED PARTY TRANSACTIONS continued b. Transactions with related parties
» 640 RELATED PARTY TRANSACTIONS continued
» Advances from customers and suppliers Short-term bank loans Note 16
» Significant agreements with related parties continued
» OPERATING SEGMENT AR TELKOM 2015 ENG.1
» OPERATING SEGMENT continued AR TELKOM 2015 ENG.1
» TELECOMMUNICATIONS SERVICE TARIFFS AR TELKOM 2015 ENG.1
» SIGNIFICANT COMMITMENTS AND AGREEMENTS continued SIGNIFICANT COMMITMENTS AND AGREEMENTS continued
» Others SIGNIFICANT COMMITMENTS AND AGREEMENTS continued b. Borrowings and other credit facilities
» SIGNIFICANT COMMITMENTS AND AGREEMENTS continued c. Others continued
» SIGNIFICANT COMMITMENTS AND AGREEMENTS continued
» CONTINGENCIES continued AR TELKOM 2015 ENG.1
» FINANCIAL RISK MANAGEMENT continued FINANCIAL RISK MANAGEMENT continued
» FINANCIAL RISK MANAGEMENT continued
» Related party transactions SUBSEQUENT EVENTS
» Pendirian dan Informasi Umum
» Establishment and INFORMASI MENGENAI UNIT COMMUNITY
» Kegiatan Utama INFORMASI MENGENAI UNIT COMMUNITY
» Primary Activities INFORMASI MENGENAI UNIT COMMUNITY
» INFORMASI MENGENAI UNIT COMMUNITY DEVELOPMENT CENTER lanjutan
» Kegiatan Utama lanjutan INFORMATION OF
» Primary Activities continued INFORMATION OF
» Funding Resources INFORMATION OF
» Susunan Pengelola INFORMATION OF
» Management Structure INFORMATION OF
» Susunan Pengelola lanjutan INFORMATION OF COMMUNITY
» Management Structure INFORMATION OF COMMUNITY
» Otorisasi Penerbitan Laporan Keuangan
» Authorization of the Issuance of Financial Statement
» IKHTISAR KEBIJAKAN AKUNTANSI YANG SIGNIFIKAN
» Dasar Penyusunan Laporan Keuangan
» Basis of Preparation of Financial Statements
» IKHTISAR KEBIJAKAN AKUNTANSI YANG SIGNIFIKAN lanjutan
» Pinjaman Loan SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued
» Pinjaman lanjutan SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued
» Loan continued Penyisihan Penurunan Nilai Pinjaman Allowance for Impairment of Loan
» Penyisihan Penurunan Nilai Pinjaman
» Pinjaman Bermasalah SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued
» Troubled Loan SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued
» Beban Akrual SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued
» Accrued Expenses SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued
» Angsuran Belum Teridentifikasi SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued
» Unidentified Installments SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued
» Kelebihan Pembayaran Angsuran SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued
» Overpayment of SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued
» Utang SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued
» Aset Neto SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued
» Net SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued
» Pendapatan dan Beban SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued
» Revenue and Expense Pendapatan
» Perpajakan Taxation SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued
» PENGGUNAAN PERTIMBANGAN, ESTIMASI AR TELKOM 2015 ENG.1
» CASH AND CASH EQUIVALENT continued
» PINJAMAN AR TELKOM 2015 ENG.1
» LOAN TO OTHER FOSTER SOE DISTRIBUTING PARTNERS
» PINJAMAN KEPADA BUMN PEMBINA
» PINJAMAN KEPADA MITRA BINAAN
» Loan to Foster Partners Classified by Community Development CD Area
» PINJAMAN KEPADA MITRA BINAAN lanjutan
» Loan to Foster Partners Classified by Sector
» Pendapatan Jasa Administrasi Pinjaman Loan Administration Service Income
» Penyisihan Pinjaman Kepada Mitra Binaan
» Allowance for Impairment of Loan to Foster Partners
» Allocation of Allowance for Impairment of Loan
» FIXED ASSET NOT IN USE Mutasi Tahun 2015 2015 2014
» PINJAMAN BERMASALAH AR TELKOM 2015 ENG.1
» TROUBLED LOAN AR TELKOM 2015 ENG.1
» PINJAMAN BERMASALAH lanjutan AR TELKOM 2015 ENG.1
» TROUBLED LOAN continued AR TELKOM 2015 ENG.1
» LIABILITAS LANCAR LAINNYA AR TELKOM 2015 ENG.1
» OTHER CURRENT LIABILITIES AR TELKOM 2015 ENG.1
» LIABILITAS LANCAR LAINNYA lanjutan
» OTHER CURRENT LIABILITIES continued Pengembalian dana Program BUMN Peduli
» BEBAN AKRUAL ACCRUED EXPENSES
» ANGSURAN BELUM TERIDENTIFIKASI UNIDENTIFIED INSTALLMENTS
» KELEBIHAN PEMBAYARAN ANGSURAN OVERPAYMENT OF INSTALLMENTS
» UTANG LAIN - LAIN OTHER PAYABLE
» Program Kemitraan Partnership Program
» Bina Lingkungan PENDAPATAN BUNGA INTEREST INCOME
» Community Development PENDAPATAN BUNGA INTEREST INCOME
» PENDAPATAN LAIN-LAIN OTHER INCOME
» DANA PEMBINAAN KEMITRAAN FOSTERING PARTNERSHIP FUNDS
» PENYALURAN DANA BINA LINGKUNGAN
» PENYALURAN DANA BINA LINGKUNGAN lanjutan
» COMMUNITY DEVELOPMENT FUNDS AR TELKOM 2015 ENG.1
» BEBAN PEMBINAAN EMPOWERMENT EXPENSES
» BEBAN ADMINISTRASI DAN UMUM GENERAL AND ADMINISTRATION EXPENSES
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