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RECOPEANNUALREPORT2014
The accompanying notes are an integral part of these financial statements.
Total Monthly Sales by Products
200.000
220.000
240.000
260.000
280.000
300.000
320.000
340.000
ENE FEB MAR ABR MAY JUN JUL AGO SET OCT NOV DIC
Metros Cúbicos
2014
2013
Monthly sales Plus 91 Gasoline ( Regular)
40.000
45.000
50.000
55.000
60.000
ENE FEB MAR ABR MAY JUN JUL AGO SET OCT NOV DIC
Metros Cúbicos
2014
2013
DECEMBER 31, 2014 AND 2013
(Expressed in United States Dollars)
Notes
2014
2013
ASSETS
CURRENT ASSETS:
Cash and cash equivalents
1c, 2 US$
157.394.954,00
US$
142.088.509,00
Accounts receivable
1d, 3
3.475.682,00
2.827.841,00
Inventories
1e, 1v, 4
235.684.080,00
352.196.570,00
Prepaid expenses
5
39.557.625,00
48.168.212,00
Total current assets
436.112.341,00
545.281.132,00
LONG TERM ACCOUNTS RECEIVABLE
1d, 3
5.048.253,00
4.158.076,00
ADVANCES TO JOINT VENTURE
15
1.328.166,00
PROPERTY, PLANT, VEHICLES AND
1g, 1h, li
EQUIPMENT - Net
1j, 6
624.464.054,00
620.954.042,00
INVESTMENT IN JOINT VENTURE
1k, 7
45.017.129,00
48.337.626,00
OTHER ASSETS
8
14.215.348,00
13.367.001,00
TOTAL
US$
1.124.857.125,00
US$
1.233.426.043,00
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES:
Notes payable
11
US$
88.980.647,00
US$
61.520.918,00
Current portion of the long term debt
12
6.285.714,00
6.285.714,00
Accounts payable
9
141.883.527,00
268.739.330,00
Deferred income
1m
28.261.731,00
45.085.734,00
Accumulated expenses and other liabilities
10
8.967.843,00
10.660.576,00
Current portion of the income tax
1l, 14
4.904.683,00
9.073.180,00
Total current liabilities
279.284.145,00
401.365.452,00
LONG TERM DEBT
12
25.285.714,00
31.571.429,00
LONG TERM BONDS PAYABLE
13
140.710.509,00
100.836.675,00
DEFERRED INCOME TAX
1l, 14
9.942.768,00
15.955.200,00
INCOME TAX
1l, 14
5.292.688,00
ALLOWANCE FOR EMPLOYEES’
LEGAL BENEFITS
1n
22.954.868,00
15.240.190,00
Total liabilities
US$
478.178.004,00
US$
570.261.634,00
STOCKHOLDERS’ EQUITY:
Capital stock
16
US$
370.515.185,00
US$
350.058,00
Legal reserve
1q
1.616.301,00
3.981,00
Surplus from revaluation
1s, 6, 8
292.278.110,00
297.411.154,00
Surplus from donation
1t, 17
34.808.316,00
34.808.316,00
Retained earnings
244.002.625,00
578.400.631,00
Foreign currency translation adjustment
1b
(296.541.416,00)
(247.809.731,00)
Total stockholders’ equity
646.679.121,00
663.164.409,00
TOTAL
US$
1.124.857.125,00
US$
1.233.426.043,00
STATEMENTS OF FINANCIAL POSITION
cubic meters
cubic meters
Jan Feb ar pr ay Jun Jul Aug ep Oct Nov ec
Jan Feb ar pr ay un ul Aug Sep ct ov Dec
Sales