Horizontal Analysis

WILCON DEPOT, INC.

Doing Business under the Name and Style of
WILCON DEPOT and WILCON HOME ESSENTIALS
COMPARATIVE BALANCE SHEET
Dec. 31, 2021

2021 2020 Amount Change Percentage Change

ASSETS
Current Assets
Cash and cash equivalents 1,542,790,565 1,854,893,411 - 312,102,846.00 -17%
Short-term investments 799,469,125 2,755,969,767 - 1,956,500,642.00 -71%
Trade and other receivables 166,326,457 315,112,318 - 148,785,861.00 -47%
Advance payments to
1,891,090,011 101,086,218 1,790,003,793.00 1771%
suppliers
Merchandise inventories 11,875,962,618 8,692,127,615 3,183,835,003.00 37%
Investment in retail Treasury
bonds
Other current assets 912,987,760 670,615,142 242,372,618.00 36%
Total Current Assets 17,188,626,536 14,389,804,471 2,798,822,065.00 19%
Noncurrent Assets

Property and equipment 7,942,305,897 6,757,351,004 1,184,954,893.00 18%

Right-of-use assets 6,427,857,055 6,280,165,526 147,691,529.00 2%
Net deferred tax assets 374,668,143 414,219,401 - 39,551,258.00 -10%
Other noncurrent assets 403,819,030 376,075,576 27,743,454.00 7%
Total Noncurrent
15,148,650,125 13,827,811,507 1,320,838,618.00 10%
Assets
Total Current and
32,337,276,661 28,217,615,978 4,119,660,683.00 15%
Noncurrent Assets

LIABILITIES AND
EQUITY
Current Liabilities

Trade and other payables 7,260,116,310 5,578,277,870 1,681,838,440.00 30%

Income tax payable 217,814,930 205,319,302 12,495,628.00 6%
Current portion of lease
1,401,610,716 1,837,560,851 - 435,950,135.00 -24%
liabilities
Current portion of long-term
– 20,000 0%
debt
Total Current
8,879,541,956 7,621,178,023 1,258,363,933.00 17%
Liabilities
Noncurrent Liabilities
Lease liabilities - net of
5,779,377,451 4,949,331,695 830,045,756.00 17%
current portion
Long term debt
Net retirement liability 199,953,209 337,412,956 - 137,459,747.00 -41%
Total Noncurrent
5,979,330,660 5,286,744,651 692,586,009.00 13%
Liabilities
Total Liabilities 14,858,872,616 12,907,922,674 1,950,949,942.00 15%
Equity

Capital stock 4,099,724,116 4,099,724,116 - 0%

Additional paid-in capital 5,373,738,427 5,373,738,427 - 0%
Other comprehensive
99,770,970 573,542 99,197,428.00 17296%
income
Retained earnings 7,905,170,532 5,835,657,219 2,069,513,313.00 35%
Total Equity 17,478,404,045 15,309,693,304 2,168,710,741.00 14%
Total Liabilities and Equity 32,337,276,661 28,217,615,978 4,119,660,683.00 15%
 WILCON DEPOT, INC.
Doing Business under the Name and Style of
WILCON DEPOT and WILCON HOME ESSENTIALS
COMPARATIVE BALANCE SHEET
Dec. 31, 2020

2020 2019 Amount Change Percentage Change

ASSETS
Current Assets
Cash and cash equivalents 1,854,893,411 1,462,042,311 392,851,100.00 27%
Short-term investments 2,755,969,767 616,490,311 2,139,479,456.00 347%
Trade and other receivables 315,112,318 439,901,662 - 124,789,344.00 -28%
Advance payments to suppliers 101,086,218 101,086,218.00
Merchandise inventories 8,692,127,615 9,517,537,133 - 825,409,518.00 -9%
Investment in retail Treasury bonds 2,253,523,133 - 2,253,523,133.00 -100%

Other current assets 670,615,142 732,935,532 - 62,320,390.00 -9%

Total Current Assets 14,389,804,471 15,022,430,077 - 632,625,606.00 -4%
Noncurrent Assets

Property and equipment 6,757,351,004 4,981,367,129 1,775,983,875.00 36%

Right-of-use assets 6,280,165,526 5,260,470,198 1,019,695,328.00 19%
Net deferred tax assets 414,219,401 333,740,211 80,479,190.00 24%
Other noncurrent assets 376,075,576 639,043,835 - 262,968,259.00 -41%
Total Noncurrent Assets 13,827,811,507 11,214,621,373 2,613,190,134.00 23%

Total Current and Noncurrent Assets 28,217,615,978 26,237,051,373 1,980,564,605.00 8%

LIABILITIES AND EQUITY

Current Liabilities
Trade and other payables 5,578,277,870 5,530,142,228 48,135,642.00 1%
Income tax payable 205,319,302 283,254,451 0%
Current portion of lease liabilities 1,837,560,851 1,423,074,043 414,486,808.00 29%

Current portion of long-term debt 20,000

Total Current Liabilities 7,621,178,023 7,236,470,722 384,707,301.00 5%

Noncurrent Liabilities

Lease liabilities - net of current portion 4,949,331,695 4,063,408,162 0%

Long term debt 20,000 - 20,000.00 -100%

Net retirement liability 337,412,956 275,650,904 61,762,052.00 22%
Total Noncurrent Liabilities 5,286,744,651 4,339,079,066 947,665,585.00 22%

Total Liabilities 12,907,922,674 11,575,549,788 1,332,372,886.00 12%

Equity

Capital stock 4,099,724,116 4,099,724,116 - 0%

Additional paid-in capital 5,373,738,427 5,373,738,427 - 0%
Other comprehensive income 573,542 63,275,338 - 62,701,796.00 -99%

Retained earnings 5,835,657,219 5,124,763,781 710,893,438.00 14%

Total Equity 15,309,693,304 14,661,501,662 648,191,642.00 4%
Total Liabilities and Equity 28,217,615,978 26,237,051,250 1,980,564,728.00 8%
 WILCON DEPOT, INC.
Doing Business under the Name and Style of
WILCON DEPOT and WILCON HOME ESSENTIALS
COMPARATIVE BALANCE SHEET
Dec. 31, 2019

2019 2018 Amount Change Percentage Change

ASSETS
Current Assets
Cash and cash equivalents 1,462,042,311 2,842,073,524 - 1,380,031,213 -49%
Short-term investments 616,490,311 616,490,311
Trade and other receivables 439,901,662 306,601,219 133,300,443 43%
Advance payments to
-
suppliers
Merchandise inventories 9,517,537,133 7,331,056,540 2,186,480,593 30%
Investment in retail Treasury
2,253,523,133 2,253,523,133
bonds
Other current assets 732,935,532 643,670,234 89,265,298 14%
Total Current Assets 15,022,430,077 11,123,401,517 3,899,028,560 35%
Noncurrent Assets

Investment in retail Treasury

2,906,721,106 - 2,906,721,106.00 -100%
bonds
Property and equipment 4,981,367,129 2,767,160,840 2,214,206,289.00 80%
Right-of-use assets 5,260,470,198 5,260,470,198.00
Net deferred tax assets 333,740,211 137,519,693 196,220,518.00 143%
Other noncurrent assets 639,043,835 567,378,597 71,665,238.00 13%

Total Noncurrent
11,214,621,373 6,378,780,236 4,835,841,137.00 76%
Assets
Total Current and
26,237,051,450 17,502,181,753 8,734,869,697.00 50%
Noncurrent Assets

LIABILITIES AND
EQUITY
Current Liabilities
Trade and other payables 5,530,142,228 4,001,096,864 1,529,045,364.00 38%
Income tax payable 283,254,451 170,167,805 113,086,646.00 66%

Current portion of lease

1,423,074,043 1,423,074,043.00
liabilities
Current portion of long-term
-
debt
Total Current
7,236,470,722 4,171,264,669 3,065,206,053.00 73%
Liabilities
Noncurrent Liabilities
Lease liabilities - net of
4,063,408,162 4,063,408,162.00
current portion
Long term debt 20,000 20,000 - 0%
Net retirement liability 275,650,904 118,427,835 157,223,069.00 133%

Total Noncurrent
4,339,079,066 118,447,835 4,220,631,231.00 3563%
Liabilities
Total Liabilities 11,575,549,788 4,289,712,504 7,285,837,284.00 170%
Equity -
-
Capital stock 4,099,724,116 4,099,724,116 - 0%
Additional paid-in capital 5,373,738,427 5,373,738,427 - 0%

Other comprehensive
63,275,338 82,902,070 - 19,626,732.00 -24%
income
Retained earnings 5,124,763,781 3,656,104,636 1,468,659,145.00 40%
Total Equity 14,661,501,662 13,212,469,249 1,449,032,413.00 11%
Total Liabilities and Equity 26,237,051,450 17,502,181,753 8,734,869,697.00 50%
Vertical Analysis
WILCON DEPOT, INC.
Doing Business under the Name and Style of
WILCON DEPOT and WILCON HOME ESSENTIALS
COMPARATIVE BALANCE SHEET
Dec. 31, 2021

Common Size-Percentages
2021 2020 2021 2020
ASSETS
Current Assets
Cash and cash equivalents 1,542,790,565 1,854,893,411 5% 7%
Short-term investments 799,469,125 2,755,969,767 2% 10%
Trade and other receivables 166,326,457 315,112,318 1% 1%
Advance payments to
1,891,090,011 101,086,218 6% 0%
suppliers
Merchandise inventories 11,875,962,618 8,692,127,615 37% 31%
Investment in retail Treasury
0% 0%
bonds
Other current assets 912,987,760 670,615,142 3% 2%
Total Current Assets 17,188,626,536 14,389,804,471 53% 51%
Noncurrent Assets 0%
0%
Property and equipment 7,942,305,897 6,757,351,004 25% 24%

Right-of-use assets 6,427,857,055 6,280,165,526 20% 22%

Net deferred tax assets 374,668,143 414,219,401 1% 1%
Other noncurrent assets 403,819,030 376,075,576 1% 1%
Total Noncurrent
15,148,650,125 13,827,811,507 47% 49%
Assets

Total Current and Non

32,337,276,661 28,217,615,978 100% 100%
Current Assets

LIABILITIES AND
EQUITY
Current Liabilities

Trade and other payables 7,260,116,310 5,578,277,870 22% 20%

Income tax payable 217,814,930 205,319,302 1% 1%
Current portion of lease
1,401,610,716 1,837,560,851 4% 7%
liabilities
Current portion of long-term
– 20,000 0%
debt
Total Current
8,879,541,956 7,621,178,023 27% 27%
Liabilities
Noncurrent Liabilities

Lease liabilities - net of

5,779,377,451 4,949,331,695 18% 18%
current portion
Long term debt 0% 0%

Net retirement liability 199,953,209 337,412,956 1% 1%

Total Noncurrent
5,979,330,660 5,286,744,651 18% 19%
Liabilities
Total Liabilities 14,858,872,616 12,907,922,674 46% 46%

Equity

Capital stock 4,099,724,116 4,099,724,116 13% 15%

Additional paid-in capital 5,373,738,427 5,373,738,427 17% 19%
Other comprehensive
99,770,970 573,542 0% 0%
income
Retained earnings 7,905,170,532 5,835,657,219 24% 21%
Total Equity 17,478,404,045 15,309,693,304 54% 54%
Total Liabilities and Equity 32,337,276,661 28,217,615,978 100% 100%
 WILCON DEPOT, INC.
Doing Business under the Name and Style of
WILCON DEPOT and WILCON HOME ESSENTIALS
COMPARATIVE BALANCE SHEET
Dec. 31, 2020

Common Size-Percentages
2020 2019 2020 2019
ASSETS
Current Assets
Cash and cash equivalents 1,854,893,411 1,462,042,311 7% 6%
Short-term investments 2,755,969,767 616,490,311 10% 2%
Trade and other receivables 315,112,318 439,901,662 1% 2%
Advance payments to suppliers 101,086,218 0% 0%
Merchandise inventories 8,692,127,615 9,517,537,133 31% 36%
Investment in retail Treasury bonds 2,253,523,133 0% 9%
Other current assets 670,615,142 732,935,532 2% 3%
Total Current Assets 14,389,804,471 15,022,430,077 51% 57%
Noncurrent Assets

Property and equipment 6,757,351,004 4,981,367,129 24% 19%

Right-of-use assets 6,280,165,526 5,260,470,198 22% 20%
Net deferred tax assets 414,219,401 333,740,211 1% 1%
Other noncurrent assets 376,075,576 639,043,835 1% 2%
Total Noncurrent Assets 13,827,811,507 11,214,621,373 49% 43%

Total Current and Noncurrent Assets 28,217,615,978 26,237,051,373 100% 100%

LIABILITIES AND EQUITY

Current Liabilities
Trade and other payables 5,578,277,870 5,530,142,228 20% 21%
Income tax payable 205,319,302 283,254,451 1% 1%
Current portion of lease liabilities 1,837,560,851 1,423,074,043 7% 5%

Current portion of long-term debt 20,000 0% 0%

Total Current Liabilities 7,621,178,023 7,236,470,722 27% 28%

Noncurrent Liabilities

Lease liabilities - net of current portion 4,949,331,695 4,063,408,162 18% 15%

Long term debt 20,000 0% 0%

Net retirement liability 337,412,956 275,650,904 1% 1%
Total Noncurrent Liabilities 5,286,744,651 4,339,079,066 19% 17%

Total Liabilities 12,907,922,674 11,575,549,788 46% 44%

Equity

Capital stock 4,099,724,116 4,099,724,116 15% 16%

Additional paid-in capital 5,373,738,427 5,373,738,427 19% 20%
Other comprehensive income 573,542 63,275,338 0% 0%

Retained earnings 5,835,657,219 5,124,763,781 21% 20%

Total Equity 15,309,693,304 14,661,501,662 54% 56%
Total Liabilities and Equity 28,217,615,978 26,237,051,250 100% 100%
 WILCON DEPOT, INC.
Doing Business under the Name and Style of
WILCON DEPOT and WILCON HOME ESSENTIALS
COMPARATIVE BALANCE SHEET
Dec. 31, 2019

Common Size-Percentages
2019 2018 2019 2018
ASSETS
Current Assets
Cash and cash equivalents 1,462,042,311 2,842,073,524 6% 16%
Short-term investments 616,490,311 2% 0%
Trade and other receivables 439,901,662 306,601,219 2% 2%
Advance payments to
0% 0%
suppliers
Merchandise inventories 9,517,537,133 7,331,056,540 36% 42%
Investment in retail Treasury
2,253,523,133 9% 0%
bonds
Other current assets 732,935,532 643,670,234 3% 4%
Total Current Assets 15,022,430,077 11,123,401,517 57% 64%
Noncurrent Assets 0%
0%
Investment in retail Treasury
2,906,721,106 0% 17%
bonds
Property and equipment 4,981,367,129 2,767,160,840 19% 16%
Right-of-use assets 5,260,470,198 20% 0%
Net deferred tax assets 333,740,211 137,519,693 1% 1%
Other noncurrent assets 639,043,835 567,378,597 2% 3%

Total Noncurrent
11,214,621,373 6,378,780,236 43% 36%
Assets
Total Current and
26,237,051,450 17,502,181,753 100% 100%
Noncurrent Assets

LIABILITIES AND
EQUITY
Current Liabilities
Trade and other payables 5,530,142,228 4,001,096,864 21% 23%
Income tax payable 283,254,451 170,167,805 1% 1%

Current portion of lease

1,423,074,043 5% 0%
liabilities
Current portion of long-term
0% 0%
debt
Total Current
7,236,470,722 4,171,264,669 28% 24%
Liabilities
Noncurrent Liabilities
Lease liabilities - net of
4,063,408,162 15% 0%
current portion
Long term debt 20,000 20,000 0% 0%
Net retirement liability 275,650,904 118,427,835 1% 1%

Total Noncurrent
4,339,079,066 118,447,835 17% 1%
Liabilities
Total Liabilities 11,575,549,788 4,289,712,504 44% 25%
Equity

Capital stock 4,099,724,116 4,099,724,116 16% 23%

Additional paid-in capital 5,373,738,427 5,373,738,427 20% 31%

Other comprehensive
63,275,338 82,902,070 0% 0%
income
Retained earnings 5,124,763,781 3,656,104,636 20% 21%
Total Equity 14,661,501,662 13,212,469,249 56% 75%
Total Liabilities and Equity 26,237,051,450 17,502,181,753 100% 100%