SM Prime Holdings is organized into business units based on their products and services and has four operating segments as follows:

• Mall
• Residential
• Commercial
• Hotels and Convention

Management through the executive committee monitors the operating results of its business units separately for the purpose of making decisions about resource allocation and performance assessment. Segment performance is evaluated based on operating profit or loss and is measured consistently with the operating profit or loss in the consolidated financial statement

Transfer prices between business segments are set on an arm's length basis similar transactions with non related parties. Such transfers are eliminated in the consolidated financial statements

Shown below is the business segment data of SMPH

2019 Hotels and Convention Consolidated Mall Residential Commercial Centers Eliminations Balances (In Thousands) Revenue: External customers P63.540.287 P45,213,765 P4.510.820 P5,046,618 P- P118.311,490 Inter-segment 85.072 74.100 13,662 (172,834) P63.625.359 P45,213,765 P4.584.920 P5,060,280 (P172,834) P118.311,490 Segment results: Income before income tax P30,418.637 P15,020,332 P3.661.683 P1,074,405 (P1,013.063) P49,161,994 Provision for income tax (7,020.933) (2,428,262) (658,358) (265,768) (10,373.321) Net income P23.397.704 P12,592,070 P3.003.325 P808,637 (P1,013.063) P38,788.673 Net income attributable to: Equity holders of the Parent P22,701,115 P12,585,587 P3,003.325 P808,637 (P1,013.063) P38,085,601 Non-controlling interests 696.589 6.483 703,072 Segment assets P388,653.151 P217,788,016 P51,340,770 P13.573,854 (P4,076,117) P667.279,674 Segment liabilities P237,486.362 P124.277,871 P5.982.687 P1,092,597 (P4,076.117) P364.763.400 Other information: Capital expenditures P29.283.828 P27,578,564 P10,216.823 P1,618,631 P- P68,697,846 Depreciation and amortization 9.514.073 143,438 560.854 606,713 10,825.078