JOLLIBEE FOODS CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

FOR THE YEARS ENDED DECEMBER 31, 2011, 2010 AND 2009

Equity Attributable to Equity Holders of the Parent ompany (Note 30)

Excess of Cost

Capital Stock
(Note 19)

Additional

Subscriptions

Paid-in Capital

Receivable

Gain on

Cumulative
Translation
Adjustments

of Non-

Cost

Available-for- Sale

controlling

Appropriated

Of Common Stock

Financial

Interests

for Future

Held in

of Foreign

Assets

Acquired

Expansion Unappropriated

Treasury

Subsidiaries

(Note 10)

(Note 19)

(Note 26)

Interests

(Note 19)

3,231,666,940

Net income

Equity

(Notes 2 and 11)

(Note 2)

Total

3,231,666,940

22,135,984

3,253,802,924

129,835,793

3,370,833

133,206,626

Other comprehensive income (loss)

Translation adjustments

129,835,793

Unrealized loss on available-for-sale financial assets

(4,537,748)

(4,537,748)

(4,537,748)

(4,537,748)

129,835,793

3,231,666,940

3,356,964,985

25,506,817

3,382,471,802

1,514,415

67,185,580

68,699,995

68,699,995

Cost of stock options granted

73,596,181

73,596,181

73,596,181

Cash dividends - P=1.07 a share (Note 19)

(1,100,016,861)

(1,100,016,861)

Arising from business combination

73,838,539

73,838,539

Arising from incorporation of a subsidiary

4,000,043

4,000,043

Additional investments during the year

38,421,300

38,421,300

1,514,415

140,781,761

(1,100,016,861)

116,259,882

(841,460,803)

Total comprehensive income (loss)

Movements in other equity accounts
Issuances of and subscriptions to capital stock

(957,720,685)

(1,100,016,861)

Balances at December 31, 2011

P=1,054,953,233

(P=17,177,884) P=2,914,463,925

(P=187,186,852)

P=102,626,829

(P=542,764,486) P=1,200,000,000 P=15,174,359,248

(P=180,511,491) P=19,518,762,522

P=703,691,245 P=20,222,453,767

Balances at January 1, 2010

P=1,051,458,156

(P=17,177,884) P=2,635,662,843

(P=101,234,002)

P=89,904,594

(P=543,978,573) P=1,200,000,000 P=12,147,867,997

(P=180,511,491) P=16,281,991,640

P=3,214,087 P=16,285,205,727

Translation adjustments

Unrealized gain on available-for-sale financial assets

1,980,662

72,361,459

Cost of stock options granted

65,657,862

Cash dividends - P=2.25 a share (Note 19)

(2,302,952,805)

Arising from business combination

491,774,405

491,774,405

Arising from incorporation of a subsidiary

54,997,180

54,997,180

Acquisition of non-controlling interests

1,214,087

1,980,662

138,019,321

1,214,087

(2,302,952,805)

Net income

3,197,793,977

3,197,793,977

14,742,019

3,212,535,996

Other comprehensive income (loss)

Total comprehensive income (loss)

(215,788,643)

17,259,983

17,259,983

17,259,983

17,259,983

3,197,793,977

2,999,265,317

15,152,961

3,014,418,278

74,342,121

74,342,121

65,657,862

65,657,862

(215,788,643)

(215,788,643)

410,942

(215,377,701)

Movements in other equity accounts

Issuances of and subscriptions to capital stock

(2,302,952,805)

(2,302,952,805)

1,214,087

(2,161,738,735)

(3,214,087)

(2,000,000)

543,557,498 (1,618,181,237)

Balances at December 31, 2010

P=1,053,438,818

(P=17,177,884) P=2,773,682,164

(P=317,022,645)

P=107,164,577

(P=542,764,486) P=1,200,000,000 P=13,042,709,169

(P=180,511,491) P=17,119,518,222

P=561,924,546 P=17,681,442,768

Balances at January 1, 2009

P=1,040,005,488

(P=17,177,884) P=2,245,675,482

P=22,952,351

P=19,880,054

(P=543,978,573) P=1,200,000,000 P=10,349,648,543

(P=180,511,491) P=14,136,493,970

P=3,337,451 P=14,139,831,421

Translation adjustments

Unrealized gain on available-for-sale financial assets

Net income

2,664,623,109

(124,186,353)

(124,186,353)

70,024,540

70,024,540

70,024,540

70,024,540

2,664,623,109

2,610,461,296

2,276,636

2,612,737,932

2,664,623,109

2,276,636

2,666,899,745

Other comprehensive income (loss)

Total comprehensive income (loss)

(124,186,353)

(124,186,353)

Movements in other equity accounts

11,452,668

242,465,182

253,917,850

253,917,850

Cost of stock options granted

147,522,179

147,522,179

147,522,179

Cash dividends - P=0.85 a share (Note 19)

(866,403,655)

(866,403,655)

(2,400,000)

(868,803,655)

11,452,668

389,987,361

(866,403,655)

(464,963,626)

(2,400,000)

(467,363,626)

Issuances of and subscriptions to capital stock