Document and Entity Information
Document and Entity Information | 12 Months Ended |
Dec. 31, 2018shares | |
Documentand Entity Information [Abstract] | |
Document Type | 20-F |
Amendment Flag | false |
Document Period End Date | Dec. 31, 2018 |
Document Fiscal Year Focus | 2018 |
Document Fiscal Period Focus | FY |
Trading Symbol | PHI |
Entity Registrant Name | PLDT Inc. |
Entity Central Index Key | 0000078150 |
Current Fiscal Year End Date | --12-31 |
Entity Well-known Seasoned Issuer | Yes |
Entity Current Reporting Status | Yes |
Entity Filer Category | Large Accelerated Filer |
Entity Common Stock, Shares Outstanding | 216,055,775 |
Entity Emerging Growth Company | false |
Entity Shell Company | false |
CONSOLIDATED STATEMENTS OF FINA
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - PHP (₱) | Dec. 31, 2018 | Dec. 31, 2017 |
Noncurrent Assets | ||
Property and equipment (Notes 9 and 21) | ₱ 195,964,000,000 | ₱ 186,907,000,000 |
Investments in associates and joint ventures (Note 10) | 55,427,000,000 | 46,130,000,000 |
Available-for-sale financial investments (Notes 6 and 11) | 15,165,000,000 | |
Financial assets at fair value through profit or loss (Note 11) | 4,763,000,000 | |
Investment in debt securities and other long-term investments – net of current portion (Note 12) | 150,000,000 | 150,000,000 |
Debt instruments at amortized cost (Note 12) | 150,000,000 | |
Investment properties (Notes 6 and 13) | 777,000,000 | 1,635,000,000 |
Goodwill and intangible assets (Note 14) | 68,583,000,000 | 69,583,000,000 |
Deferred income tax assets – net (Note 7) | 27,697,000,000 | 30,466,000,000 |
Derivative financial assets – net of current portion (Note 27) | 140,000,000 | 215,000,000 |
Prepayments – net of current portion (Note 18) | 6,255,000,000 | 5,370,000,000 |
Advances and other noncurrent assets – net of current portion (Note 24) | 17,083,000,000 | 14,154,000,000 |
Financial assets at fair value through other comprehensive income – net of current portion (Notes 6 and 24) | 2,749,000,000 | |
Contract assets – net of current portion (Note 5) | 1,083,000,000 | |
Other financial assets – net of current portion (Note 27) | 2,275,000,000 | |
Other non-financial assets – net of current portion | 230,000,000 | |
Total Noncurrent Assets | 383,176,000,000 | 369,775,000,000 |
Current Assets | ||
Cash and cash equivalents (Note 15) | 51,654,000,000 | 32,905,000,000 |
Short-term investments (Note 27) | 1,165,000,000 | 1,074,000,000 |
Trade and other receivables (Note 16) | 24,056,000,000 | 33,761,000,000 |
Inventories and supplies (Note 17) | 2,878,000,000 | 3,933,000,000 |
Current portion of contract assets (Note 5) | 2,185,000,000 | |
Current portion of derivative financial assets (Note 27) | 183,000,000 | 171,000,000 |
Current portion of investment in debt securities and other long-term investments (Note 12) | 100,000,000 | |
Current portion of prepayments (Note 18) | 7,760,000,000 | 9,633,000,000 |
Current portion of advances and other noncurrent assets (Note 19) | 620,000,000 | 8,092,000,000 |
Current portion of financial assets at fair value through other comprehensive income (Notes 6 and 24) | 1,604,000,000 | |
Current portion of other financial assets (Notes 19 and 27) | 7,008,000,000 | |
Current portion of other non-financial assets | 461,000,000 | |
Total Current Assets | 99,574,000,000 | 89,669,000,000 |
TOTAL ASSETS | 482,750,000,000 | 459,444,000,000 |
Equity | ||
Treasury stock (Note 19) | 6,505,000,000 | 6,505,000,000 |
Capital in excess of par value (Note 19) | 130,526,000,000 | 130,374,000,000 |
Other equity reserves (Note 25) | 697,000,000 | 827,000,000 |
Retained earnings (Note 19) | 12,081,000,000 | 634,000,000 |
Other comprehensive loss (Note 6) | (25,190,000,000) | (19,151,000,000) |
Total Equity Attributable to Equity Holders of PLDT (Note 27) | 112,358,000,000 | 106,842,000,000 |
Noncontrolling interests (Note 6) | 4,308,000,000 | 4,341,000,000 |
TOTAL EQUITY | 116,666,000,000 | 111,183,000,000 |
Noncurrent Liabilities | ||
Interest-bearing financial liabilities – net of current portion (Notes 20 and 27) | 155,835,000,000 | 157,654,000,000 |
Deferred income tax liabilities (Note 7) | 2,981,000,000 | 3,366,000,000 |
Derivative financial liabilities – net of current portion (Note 27) | 8,000,000 | |
Customers’ deposits (Note 27) | 2,194,000,000 | 2,443,000,000 |
Pension and other employee benefits (Note 25) | 7,182,000,000 | 8,997,000,000 |
Deferred credits and other noncurrent liabilities (Note 21) | 5,284,000,000 | 7,702,000,000 |
Total Noncurrent Liabilities | 173,476,000,000 | 180,170,000,000 |
Current Liabilities | ||
Accounts payable (Note 22) | 74,610,000,000 | 60,445,000,000 |
Accrued expenses and other current liabilities (Notes 23 and 26) | 95,724,000,000 | 90,740,000,000 |
Current portion of interest-bearing financial liabilities (Notes 20, 24 and 27) | 20,441,000,000 | 14,957,000,000 |
Dividends payable (Notes 19 and 28) | 1,533,000,000 | 1,575,000,000 |
Current portion of derivative financial liabilities (Note 27) | 80,000,000 | 141,000,000 |
Income tax payable | 220,000,000 | 233,000,000 |
Total Current Liabilities | 192,608,000,000 | 168,091,000,000 |
TOTAL LIABILITIES | 366,084,000,000 | 348,261,000,000 |
TOTAL EQUITY AND LIABILITIES | 482,750,000,000 | 459,444,000,000 |
Non-voting Serial Preferred Stock [Member] | ||
Equity | ||
Initial capitalization amount | 360,000,000 | 360,000,000 |
Voting Preferred Stock [Member] | ||
Equity | ||
Initial capitalization amount | 150,000,000 | 150,000,000 |
Common Stock [Member] | ||
Equity | ||
Initial capitalization amount | 1,093,000,000 | 1,093,000,000 |
Treasury Shares Under Employee Benefit Trust [Member] | ||
Equity | ||
Treasury shares under employee benefit trust (Note 25) | ₱ 854,000,000 | ₱ 940,000,000 |
Consolidated Income Statements
Consolidated Income Statements - PHP (₱) ₱ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
REVENUES | |||
Service revenues (Note 5) | ₱ 154,207 | ₱ 151,165 | ₱ 157,210 |
Non-service revenues (Note 5) | 10,545 | 8,761 | 8,052 |
Revenues | 164,752 | 159,926 | 165,262 |
EXPENSES | |||
Selling, general and administrative expenses (Note 5) | 73,916 | 68,990 | 67,196 |
Depreciation and amortization (Note 9) | 47,240 | 51,915 | 34,455 |
Cost of sales and services (Note 5) | 14,427 | 13,633 | 18,293 |
Interconnection costs | 7,331 | 7,619 | 9,573 |
Asset impairment (Note 5) | 8,065 | 8,258 | 11,042 |
Expenses | 150,979 | 150,415 | 140,559 |
Profit loss from operating activities | 13,773 | 9,511 | 24,703 |
OTHER INCOME (EXPENSES) – NET (Note 5) | 9,042 | 5,058 | (2,632) |
INCOME BEFORE INCOME TAX | 22,815 | 14,569 | 22,071 |
PROVISION FOR INCOME TAX (Note 7) | 3,842 | 1,103 | 1,909 |
NET INCOME | 18,973 | 13,466 | 20,162 |
ATTRIBUTABLE TO: | |||
Equity holders of PLDT (Note 8) | 18,916 | 13,371 | 20,006 |
Noncontrolling interests | 57 | 95 | 156 |
NET INCOME | ₱ 18,973 | ₱ 13,466 | ₱ 20,162 |
Earnings Per Share Attributable to Common Equity Holders of PLDT (Note 8) | |||
Basic | ₱ 87.28 | ₱ 61.61 | ₱ 92.33 |
Diluted | ₱ 87.28 | ₱ 61.61 | ₱ 92.33 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - PHP (₱) ₱ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Statement Of Comprehensive Income [Abstract] | |||
NET INCOME | ₱ 18,973 | ₱ 13,466 | ₱ 20,162 |
OTHER COMPREHENSIVE INCOME (LOSS) – NET OF TAX (Note 6) | |||
Foreign currency translation differences of subsidiaries | 117 | (18) | 79 |
Financial instrument at fair value through other comprehensive income (Note 24) | (29) | ||
Net transactions on cash flow hedges: | (271) | (376) | 10 |
Net fair value gains (losses) on cash flow hedges (Note 27) | (286) | (411) | 76 |
Income tax related to fair value adjustments charged directly to equity (Note 7) | 15 | 35 | (66) |
Net gains on available-for-sale financial investments: | 3,364 | 860 | |
Unrealized gains (losses) from changes in fair value adjustments recognized during the year (Note 11) | 2,826 | (4,520) | |
Impairment recognized in profit or loss (Note 11) | 540 | 5,381 | |
Income tax related to fair value adjustments charged directly to equity (Note 7) | (2) | (1) | |
Share in the other comprehensive income of associates and joint ventures accounted for using the equity method (Note 10) | 112 | 151 | |
Net other comprehensive income (loss) to be reclassified to profit or loss in subsequent years | (183) | 3,082 | 1,100 |
Revaluation increment on investment properties: | (2) | 1 | 17 |
Fair value adjustment to property and equipment transferred to investment properties during the year | 4 | 26 | |
Depreciation of revaluation increment in investment properties transferred to property and equipment (Note 9) | (2) | (2) | (2) |
Income tax related to revaluation increment charged directly to equity (Note 7) | (1) | (7) | |
Actuarial losses on defined benefit obligations: | (1,222) | (1,091) | (3,571) |
Remeasurement in actuarial losses on defined benefit obligations (Note 25) | (1,788) | (1,566) | (5,112) |
Income tax related to remeasurement adjustments (Note 7) | 566 | 475 | 1,541 |
Share in the other comprehensive income of associates and joint ventures accounted for using the equity method (Note 10) | 194 | ||
Net other comprehensive loss not to be reclassified to profit or loss in subsequent years | (1,224) | (896) | (3,554) |
Total Other Comprehensive Income (Loss) – Net of Tax | (1,407) | 2,186 | (2,454) |
TOTAL COMPREHENSIVE INCOME | 17,566 | 15,652 | 17,708 |
ATTRIBUTABLE TO: | |||
Equity holders of PLDT | 17,504 | 15,550 | 17,557 |
Noncontrolling interests | 62 | 102 | 151 |
TOTAL COMPREHENSIVE INCOME | ₱ 17,566 | ₱ 15,652 | ₱ 17,708 |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - PHP (₱) ₱ in Millions | Total | Issued capital [Member]Preferred stock [Member] | Issued capital [Member]Common Stock [Member] | Treasury stock [Member] | Treasury Shares Under Employee Benefit Trust [Member] | Capital in excess of par value [Member] | Other Equity Reserves [Member] | Retained earnings [Member] | Other Comprehensive Income (Loss) [Member] | Total equity attributable to equity holders of PLDT [Member] | Noncontrolling interests [Member] |
Beginning balance at Dec. 31, 2015 | ₱ 113,898 | ₱ 510 | ₱ 1,093 | ₱ (6,505) | ₱ 130,517 | ₱ 6,195 | ₱ (18,202) | ₱ 113,608 | ₱ 290 | ||
Total comprehensive income (loss): | 17,708 | 20,249 | (2,692) | 17,557 | 151 | ||||||
Net income (Note 8) | 20,162 | 20,006 | 20,006 | 156 | |||||||
Other comprehensive income (loss) (Note 6) | (2,454) | 243 | (2,692) | (2,449) | (5) | ||||||
Cash dividends (Note 19) | (23,042) | (22,961) | (22,961) | (81) | |||||||
Acquisition and dilution of noncontrolling interests | (27) | (29) | (29) | 2 | |||||||
Ending balance at Dec. 31, 2016 | 108,537 | 510 | 1,093 | (6,505) | 130,488 | 3,483 | (20,894) | 108,175 | 362 | ||
Total comprehensive income (loss): | 15,652 | 13,807 | 1,743 | 15,550 | 102 | ||||||
Net income (Note 8) | 13,466 | 13,371 | 13,371 | 95 | |||||||
Other comprehensive income (loss) (Note 6) | 2,186 | 436 | 1,743 | 2,179 | 7 | ||||||
Cash dividends (Note 19) | (16,545) | (16,479) | (16,479) | (66) | |||||||
Perpetual notes (Note 19) | 4,165 | 4,165 | |||||||||
Distribution charges on perpetual notes (Note 19) | (177) | (177) | (177) | ||||||||
Equity reserves | 827 | ₱ 827 | 827 | ||||||||
Treasury shares under employee benefit trust | (940) | ₱ (940) | (940) | ||||||||
Acquisition and dilution of noncontrolling interests | (336) | (114) | (114) | (222) | |||||||
Ending balance at Dec. 31, 2017 | 111,183 | 510 | 1,093 | (6,505) | (940) | 130,374 | 827 | 634 | (19,151) | 106,842 | 4,341 |
Balances restated at Dec. 31, 2017 | 113,210 | 510 | 1,093 | (6,505) | (940) | 130,374 | 827 | 7,288 | (23,778) | 108,869 | 4,341 |
Total comprehensive income (loss): | 17,566 | 18,916 | (1,412) | 17,504 | 62 | ||||||
Net income (Note 8) | 18,973 | 18,916 | 18,916 | 57 | |||||||
Other comprehensive income (loss) (Note 6) | (1,407) | (1,412) | (1,412) | 5 | |||||||
Cash dividends (Note 19) | (13,902) | (13,887) | (13,887) | (15) | |||||||
Distribution charges on perpetual notes (Note 19) | (236) | (236) | (236) | ||||||||
Other equity reserves (Note 3) | (130) | (130) | (130) | ||||||||
Treasury shares under employee benefit trust | 86 | 86 | 86 | ||||||||
Acquisition and dilution of noncontrolling interests | 72 | 152 | 152 | (80) | |||||||
Ending balance at Dec. 31, 2018 | 116,666 | ₱ 510 | ₱ 1,093 | ₱ (6,505) | ₱ (854) | ₱ 130,526 | ₱ 697 | 12,081 | (25,190) | 112,358 | ₱ 4,308 |
Effect of adoption of IFRS 9 (Note 2) | (526) | 4,101 | ₱ (4,627) | (526) | |||||||
Effect of adoption of IFRS 15 (Note 2) | ₱ 2,553 | ₱ 2,553 | ₱ 2,553 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - PHP (₱) ₱ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
CASH FLOWS FROM OPERATING ACTIVITIES | |||
Income before income tax | ₱ 22,815 | ₱ 14,569 | ₱ 22,071 |
Adjustments for: | |||
Depreciation and amortization (Note 9) | 47,240 | 51,915 | 34,455 |
Asset impairment (Note 5) | 8,065 | 8,258 | 11,042 |
Interest on loans and other related items – net (Note 5) | 6,783 | 7,014 | 6,956 |
Pension benefit costs (Notes 5 and 25) | 1,855 | 1,607 | 1,775 |
Amortization of intangible assets (Notes 5 and 14) | 892 | 835 | 929 |
Foreign exchange losses – net (Notes 5 and 9) | 771 | 411 | 2,785 |
Incentive plan (Notes 5 and 25) | 208 | 827 | |
Impairment of investments (Notes 10 and 11) | 172 | 2,562 | 5,515 |
Accretion on financial liabilities (Notes 5 and 20) | 145 | 219 | 230 |
Equity share in net losses (earnings) of associates and joint ventures (Notes 5 and 10) | 87 | (2,906) | (1,181) |
Losses (gains) on disposal of property and equipment (Note 9) | (12) | 159 | (1,360) |
Gains on disposal of investment in associates and joint ventures (Note 10) | (144) | (6,512) | (7,365) |
Gains on derivative financial instruments – net (Notes 5 and 27) | (1,086) | (533) | (996) |
Interest income (Note 5) | (1,943) | (1,412) | (1,046) |
Gains on deconsolidation of subsidiary (Note 10) | (12,054) | ||
Gains on disposal of investment property (Note 13) | (80) | ||
Others | (1,076) | (2,443) | (400) |
Operating income before changes in assets and liabilities | 72,718 | 74,490 | 73,410 |
Decrease (increase) in: | |||
Prepayments | 969 | (212) | (5,634) |
Current portion of advances and other noncurrent assets | (5,287) | 162 | (99) |
Trade and other receivables | (12,175) | (10,674) | (7,060) |
Inventories and supplies | 26 | (542) | (917) |
Contract assets | 390 | ||
Increase (decrease) in: | |||
Customers’ deposits | (250) | 13 | 1 |
Pension and other employee benefits | (5,733) | (5,841) | (5,863) |
Other noncurrent liabilities | (11) | 38 | (10) |
Accounts payable | 7,729 | 4,622 | 1,358 |
Accrued expenses and other current liabilities | 5,184 | (1,392) | 755 |
Net cash flows generated from operations | 63,560 | 60,664 | 55,941 |
Income taxes paid | (2,444) | (4,550) | (6,965) |
Net cash flows from operating activities | 61,116 | 56,114 | 48,976 |
CASH FLOWS FROM INVESTING ACTIVITIES | |||
Interest received | 1,115 | 1,217 | 947 |
Proceeds from: | |||
Collection of notes receivable | 11,707 | 2,001 | |
Disposal of financial assets at fair value through profit or loss | 11,643 | ||
Proceeds from maturity of short-term investments | 6,102 | 20,254 | 1,557 |
Disposal of investments in associates and joint ventures (Note 10) | 1,710 | 14,884 | 17,000 |
Disposal of property and equipment (Note 9) | 345 | 484 | 1,889 |
Redemption of debt instruments at amortized cost | 105 | ||
Disposal of available-for-sale financial investments | 1,000 | 2,502 | |
Redemption of investment in debt securities | 456 | 609 | |
Disposal of investment properties | 290 | ||
Payments for: | |||
Acquisition of intangible assets (Note 14) | (21) | (137) | (159) |
Purchase of investments in associates and joint ventures (Note 10) | (111) | (5,633) | (21,524) |
Interest capitalized to property and equipment (Notes 5 and 9) | (1,524) | (816) | (566) |
Purchase of investments - net of cash acquired | (2,814) | (266) | (22) |
Purchase of short-term investments | (5,992) | (18,424) | (2,734) |
Disposal of property and equipment (Note 9) | (47,247) | (36,616) | (42,259) |
Purchase of available-for-sale financial investments | (76) | (3,500) | |
Purchase of investment properties | (6) | ||
Purchase of investment in debt securities | (20) | ||
Dividends received | 833 | 4,409 | |
Increase in advances and other noncurrent assets - net of current portion | (72) | (511) | (105) |
Net cash flows used in investing activities | (25,054) | (21,060) | (41,982) |
CASH FLOWS FROM FINANCING ACTIVITIES | |||
Availments of long-term debt (Notes 20 and 28) | 20,500 | 26,255 | 40,569 |
Derivative financial instruments (Note 27) | 886 | 218 | |
Issuance of perpetual notes (Note 19) | 4,165 | ||
Issuance of capital stock | 5 | ||
Payments for: | |||
Debt issuance costs (Notes 20 and 28) | (38) | (153) | (185) |
Distribution charges on perpetual notes (Note 19) | (236) | (177) | |
Interest – net of capitalized portion (Notes 5 and 20) | (6,614) | (7,076) | (6,512) |
Cash dividends (Notes 19 and 28) | (13,928) | (16,617) | (22,987) |
Long-term debt (Notes 20 and 28) | (18,740) | (39,199) | (19,650) |
Long-term financing for capital expenditures (Note 28) | (7,735) | (6,040) | |
Derivative financial instruments (Note 27) | (541) | ||
Decrease in treasury shares under employee benefit trust | 26 | ||
Net cash flows used in financing activities | (18,144) | (40,319) | (15,341) |
NET EFFECT OF FOREIGN EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS | 831 | (552) | 614 |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 18,749 | (5,817) | (7,733) |
CASH AND CASH EQUIVALENTS AT BEGINNING OF THE YEAR (Note 15) | 32,905 | 38,722 | 46,455 |
CASH AND CASH EQUIVALENTS AT END OF THE YEAR (Note 15) | ₱ 51,654 | ₱ 32,905 | ₱ 38,722 |
Corporate Information
Corporate Information | 12 Months Ended |
Dec. 31, 2018 | |
Text Block1 [Abstract] | |
Corporate Information | 1. Corporate Information PLDT Inc. (formerly Philippine Long Distance Telephone Company), which we refer to as PLDT or the Parent Company, was incorporated under the old Corporation Law of the Philippines (Act 1459, as amended) on November 28, 1928, following the merger of four telephone companies under common U.S. ownership. Under its amended Articles of Incorporation, PLDT’s corporate term is currently limited through 2028. In 1967, effective control of PLDT was sold by the General Telephone and Electronics Corporation, then a major shareholder since PLDT’s incorporation, to a group of Filipino businessmen. In 1981, in furtherance of the then existing policy of the Philippine government to integrate the Philippine telecommunications industry, PLDT purchased substantially all of the assets and liabilities of the Republic Telephone Company, which at that time was the second largest telephone company in the Philippines. In 1998, certain subsidiaries of First Pacific Company Limited, or First Pacific, and its Philippine affiliates (collectively the First Pacific Group and its Philippine affiliates), acquired a significant interest in PLDT. On March 24, 2000, NTT Communications Corporation, or NTT Communications, through its wholly-owned subsidiary NTT Communications Capital (UK) Ltd., became PLDT’s strategic partner with approximately 15% economic and voting interest in the issued and outstanding common stock of PLDT at that time. Simultaneous with NTT Communications’ investment in PLDT, the latter acquired 100% of Smart Communications, Inc., or Smart. On March 14, 2006, NTT DOCOMO, Inc., or NTT DOCOMO, acquired from NTT Communications approximately 7% of PLDT’s then outstanding common shares held by NTT Communications with NTT Communications retaining ownership of approximately 7% of PLDT’s common shares. Since March 14, 2006, NTT DOCOMO has made additional purchases of shares of PLDT, and together with NTT Communications beneficially owned approximately 20% of PLDT’s outstanding common stock as at December 31, 2018. NTT Communications and NTT DOCOMO are subsidiaries of NTT Holding Company. On February 28, 2007, Metro Pacific Asset Holdings, Inc., a Philippine affiliate of First Pacific, completed the acquisition of an approximately 46% interest in Philippine Telecommunications Investment Corporation, or PTIC, a shareholder of PLDT. This investment in PTIC represented an attributable interest of approximately 6% of the then outstanding common shares of PLDT and thereby raised First Pacific Group’s and its Philippine affiliates’ beneficial ownership to approximately 28% of PLDT’s outstanding common stock as at that date. Since then, First Pacific Group’s beneficial ownership interest in PLDT decreased by approximately 2%, mainly due to the holders of Exchangeable Notes, which were issued in 2005 by a subsidiary of First Pacific and exchangeable into PLDT shares owned by First Pacific Group, who fully exchanged their notes. First Pacific Group and its Philippine affiliates had beneficial ownership of approximately 26% in PLDT’s outstanding common stock as at December 31, 2018. On October 26, 2011, PLDT completed the acquisition of a controlling interest in Digital Telecommunications Phils., Inc., or Digitel, from JG Summit Holdings, Inc., or JGSHI, and its affiliates, or JG Summit Group. As payment for the assets acquired from JGSHI, PLDT issued approximately 27.7 million common shares. In November 2011, JGSHI sold 5.81 million and 4.56 million PLDT shares to a Philippine affiliate of First Pacific and NTT DOCOMO, respectively, pursuant to separate option agreements that JGSHI had entered into with a Philippine affiliate of First Pacific and NTT DOCOMO, respectively. As at December 31, 2018, the JG Summit Group beneficially owned approximately 8% of PLDT’s outstanding common shares. On October 16, 2012, BTF Holdings, Inc., or BTFHI, a wholly-owned company of the Board of Trustees for the Account of the Beneficial Trust Fund, or PLDT Beneficial Trust Fund, created pursuant to PLDT’s Benefit Plan, subscribed to 150 million newly issued shares of Voting Preferred Stock of PLDT, or Voting Preferred Shares, at a subscription price of Php1.00 per share for a total subscription price of Php150 million pursuant to a subscription agreement between BTFHI and PLDT dated October 15, 2012. As a result of the issuance of Voting Preferred Shares, the voting power of the NTT Group (NTT DOCOMO and NTT Communications), First Pacific Group and its Philippine affiliates, and JG Summit Group was reduced to 12 15 December Note 19 – Equity – Voting Preferred Stock Note 26 – Provisions and Contingencies – In the Matter of the Wilson Gamboa Case and Jose M. Roy III Petition The common shares of PLDT are listed and traded on the Philippine Stock Exchange, Inc., or PSE. On October 19, 1994, an American Depositary Receipt, or ADR, facility was established, pursuant to which Citibank N.A., as the depositary, issued American Depositary Shares, or ADSs, with each ADS representing one PLDT common share with a par value of Php5.00 per share. Effective February 10, 2003, PLDT appointed JP Morgan Chase Bank as successor depositary for PLDT’s ADR facility. The ADSs are listed on the New York Stock Exchange, or NYSE, in the United States and are traded on the NYSE under the symbol “PHI”. There were approximately 25.7 million ADSs outstanding as at December 31, 2018. PLDT and our Philippine-based fixed line and wireless subsidiaries operate under the jurisdiction of the Philippine National Telecommunications Commission, or NTC, which jurisdiction extends, among other things, to approving major services offered and certain rates charged to customers. We are the largest and most diversified telecommunications company in the Philippines which delivers data and multi-media services nationwide. We have organized our business into business units based on our products and services and have three reportable operating segments which serve as the bases for management’s decision to allocate resources and evaluate operating performance. Our principal activities are discussed in Note 4 – Operating Segment Information Our registered office address is Ramon Cojuangco Building, Makati Avenue, Makati City, Philippines. Our consolidated financial statements as at December 31, 2018 and 2017, and for the years ended December 31, 2018, 2017 and 2016 were approved and authorized for issuance by the Board of Directors on March 21, 2019 as reviewed for approval by the Audit Committee on March 19, 2019. Amendments to the Articles of Incorporation of PLDT On April 12, 2016 and June 14, 2016, the Board of Directors and stockholders of PLDT, respectively, approved the following actions: (i) change in the name of the Company from Philippine Long Distance Telephone Company to PLDT Inc.; (ii) expansion of the purpose clause to expressly provide for such other purposes and powers incidental to or in furtherance of the primary purpose, including the power to do or engage in such activities required, necessary or expedient in the pursuit of lawful businesses or for the protection or benefit of the Company; and (iii) corresponding amendments to the First Article and Second Article of the Articles of Incorporation of the Company. On July 29, 2016, the Amended Articles of Incorporation of the Company containing the aforementioned amendments was approved Amendments to the By-Laws of PLDT On August 30, 2016, the Board of Directors, exercising its own power and the authority duly delegated to it by the stockholders of PLDT to amend the By-Law s, authorized and approved the following amendments: Amended By-Laws of the Parent Company containing the aforementioned amendments was approved by the Philippine SEC |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Significant Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | 2. Summary of Significant Accounting Policies Basis of Preparation Our consolidated financial statements have been prepared in accordance with International Financial Reporting Standards, or IFRSs, as issued by the International Accounting Standards Board, or IASB. Our consolidated financial statements have been prepared under the historical cost basis, except for derivative financial assets, financial assets at fair value through profit or loss, or FVPL, financial assets at fair value through other comprehensive income, or FVOCI, certain available-for-sale financial investments, and investment properties that are measured at fair values. Our consolidated financial statements are presented in Philippine peso, PLDT’s functional currency, and all values are rounded to the nearest million, except when otherwise indicated. Basis of Consolidation Our consolidated financial statements include the financial statements of PLDT and the following subsidiaries (collectively, the “PLDT Group”) as at December 31, 2018 and 2017: 2018 2017 Place of Percentage of Ownership Name of Subsidiary Incorporation Principal Business Activity Direct Indirect Direct Indirect Wireless Smart: Philippines Cellular mobile services 100.0 — 100.0 — Smart Broadband, Inc., or SBI, and Subsidiary Philippines Internet broadband distribution services — 100.0 — 100.0 Primeworld Digital Systems, Inc., or PDSI Philippines Internet broadband distribution services — 100.0 — 100.0 I-Contacts Corporation Philippines Operations support servicing business — 100.0 — 100.0 Smart Money Holdings Corporation, or SMHC (a) Cayman Islands Investment company — 100.0 — 100.0 Far East Capital Limited, or FECL, and Subsidiary, or FECL Group (a) Cayman Islands Cost effective offshore financing and risk management activities for Smart — 100.0 — 100.0 PH Communications Holdings Corporation, or PHC Philippines Investment company — 100.0 — 100.0 Connectivity Unlimited Resource Enterprise, or CURE Philippines Cellular mobile services — 100.0 — 100.0 Francom Holdings, Inc., or FHI: Philippines Investment company — 100.0 — 100.0 Chikka Holdings Limited, or Chikka, and Subsidiaries, or Chikka Group (a) British Virgin Islands Content provider, mobile applications development and services — 100.0 — 100.0 Wifun, Inc., or Wifun Philippines Software developer and selling of WiFi access equipment — 100.0 — 100.0 Telesat, Inc. (a) Philippines Satellite communications services 100.0 — 100.0 — ACeS Philippines Cellular Satellite Corporation, or ACeS Philippines Philippines Satellite information and messaging services 88.5 11.5 88.5 11.5 Digitel Mobile Philippines, Inc., or DMPI, (a wholly-owned subsidiary of Digitel) Philippines Cellular mobile services — 99.6 — 99.6 Fixed Line PLDT Clark Telecom, Inc., or ClarkTel Philippines Telecommunications services 100.0 — 100.0 — PLDT Subic Telecom, Inc., or SubicTel Philippines Telecommunications services 100.0 — 100.0 — PLDT Global Corporation, or PLDT Global, and Subsidiaries British Virgin Islands Telecommunications services 100.0 — 100.0 — Smart-NTT Multimedia, Inc. (a) Philippines Data and network services 100.0 — 100.0 — PLDT-Philcom, Inc., or Philcom, and Subsidiaries, or Philcom Group Philippines Telecommunications services 100.0 — 100.0 — Talas Data Intelligence, Inc., or Talas Philippines Business infrastructure and solutions; intelligent data processing and implementation services and data analytics insight generation 100.0 — 100.0 — ePLDT, Inc., or ePLDT: Philippines Information and communications infrastructure for internet-based services, e-commerce, customer relationship management and IT related services 100.0 — 100.0 — IP Converge Data Services, Inc., or IPCDSI, and Subsidiary, or IPCDSI Group Philippines Information and communications infrastructure for internet-based services, e-commerce, customer relationship management and IT related services — 100.0 — 100.0 Curo Teknika, Inc., or Curo Philippines Managed IT outsourcing — 100.0 — 100.0 ABM Global Solutions, Inc., or AGS, and Subsidiaries, or AGS Group Philippines Internet-based purchasing, IT consulting and professional services — 100.0 — 100.0 ePDS, Inc., or ePDS Philippines Bills printing and other related value-added services, or VAS — 95.0 — 67.0 netGames, Inc. (b) Philippines Gaming support services — 57.5 — 57.5 MVP Rewards Loyalty Solutions, Inc., or MRSI (c) Philippines Full-services customer rewards and loyalty programs — 100.0 — — Digitel: Philippines Telecommunications services 99.6 — 99.6 — Digitel Information Technology Services, Inc. (a) Philippines Internet services — 99.6 — 99.6 PLDT-Maratel, Inc., or Maratel Philippines Telecommunications services 98.0 — 98.0 — Bonifacio Communications Corporation, or BCC Philippines Telecommunications, infrastructure and related VAS 75.0 — 75.0 — Pacific Global One Aviation Company, Inc., or PG1 Philippines Air transportation business 65.0 — 65.0 — Pilipinas Global Network Limited, or PGNL, and Subsidiaries British Virgin Islands Internal distributor of Filipino channels and content 64.6 — 64.6 — Others PLDT Global Investments Holdings, Inc., or PGIH Philippines Investment company 100.0 — 100.0 — PLDT Digital Investments Pte. Ltd., or PLDT Digital, and Subsidiaries Singapore Investment company 100.0 — 100.0 — Mabuhay Investments Corporation, or MIC (a) Philippines Investment company 67.0 — 67.0 — PLDT Global Investments Corporation, or PGIC British Virgin Islands Investment company — 100.0 — 100.0 PLDT Communications and Energy Ventures, Inc., or PCEV Philippines Investment company — 99.9 — 99.9 Voyager Innovations Holdings, Pte. Ltd., or VIH, (formerly eInnovations Holdings Pte. Ltd.) (d) Singapore Investment company — — — 100.0 Voyager Innovations Investments Pte. Ltd., or VII, (formerly Takatack Holdings Pte. Ltd.) (e) Singapore Investment company — — — 100.0 Voyager Innovations Singapore Pte. Ltd., or VIS, (formerly Takatack Technologies Pte. Ltd.) (f) Singapore Development and maintenance of IT-based solutions for communications and e-Commerce platforms — — — 100.0 Takatack Malaysia Sdn. Bhd., or Takatack Malaysia Malaysia Development, maintenance and support services to enable the digital commerce ecosystem — — — 100.0 Voyager Innovations, Inc., or Voyager Philippines Mobile applications and digital platform developer — — — 100.0 Voyager Innovations Pte. Ltd., or VIP, (formerly ePay Investments Pte. Ltd.) (g) Singapore Investment company — — — 100.0 PayMaya Philippines, Inc., or PayMaya Philippines Provide and market certain mobile payment services — — — 100.0 PayMaya Operations Philippines, Inc., or PayMaya Ops Philippines Market, sell and distribute payment solutions and other related services — — — 100.0 ePay Investments Myanmar, Ltd., or ePay Myanmar (h) Myanmar Investment company — — — 100.0 3rd Brand Pte. Ltd., or 3rd Brand (i) Singapore Solutions and systems integration services — — — 85.0 Voyager Fintech Ventures Pte. Ltd., or Fintech Ventures Singapore Investment company — — — 100.0 Fintqnologies Corporation, or FINTQ Philippines Development of financial technology innovations — — — 100.0 Fintq Inventures Insurance Agency Corporation Philippines Insurance company — — — 100.0 (a) (b) (c) ( d ) On July 11, 2017, the Accounting and Corporate Regulatory Authority, or ACRA, of Singapore approved the change in business name of eInnovations Holdings Pte. Ltd. to Voyager Innovations Holdings Pte. Ltd. On April 16, 2018, the ACRA of Singapore approved the transfer of VIH to PCEV. On November 28, 2018, upon closing of the subscription agreements of PLDT, Tencent Holdings Limited, or Tencent, and KKR & Co., Inc., or KKR, PCEV’s ownership in VIH was reduced to 53.87% and with only two board seats in the investee, the transaction resulted to a loss of control. On December 10, 2018, PCEV’s ownership in VIH was further reduced to 48.74% upon receipt of the investments from International Finance Corp., or IFC, and IFC Emerging Asia Fund, or IFC EAF. PCEV accounts for its remaining interest in VIH as investment in associate starting December 2018. ( e ) ( f ) ( g ) ( h ) ( i ) rd Subsidiaries are fully consolidated from the date of acquisition, being the date on which PLDT obtains control, and continue to be consolidated until the date that such control ceases. We control an investee when we are exposed, or have rights, to variable returns from our involvement with the investee and when we have the ability to affect those returns through our power over the investee. The financial statements of our subsidiaries are prepared for the same reporting period as PLDT. We prepare our consolidated financial statements using uniform accounting policies for like transactions and other events with similar circumstances. Profit or loss and each component of other comprehensive income are attributed to the equity holders of the parent of the Group and to the non-controlling interests, even if this results in the non-controlling interests having a deficit balance. Noncontrolling interests share in losses even if the losses exceed the noncontrolling equity interest in the subsidiary. A change in the ownership interest of a subsidiary, without loss of control, is accounted for as an equity transaction and impact is presented as part of other equity reserves. If PLDT loses control over a subsidiary, it: (a) derecognizes the assets (including goodwill) and liabilities of the subsidiary; (b) derecognizes the carrying amount of any noncontrolling interest; (c) derecognizes the cumulative translation differences recorded in equity; (d) recognizes the fair value of the consideration received; (e) recognizes the fair value of any investment retained; (f) recognizes any surplus or deficit in profit or loss; and (g) reclassifies the parent’s share of components previously recognized in other comprehensive income to profit or loss or retained earnings, as appropriate. Divestment of CURE On October 26, 2011, PLDT received the Order issued by the NTC approving the application jointly filed by PLDT and Digitel for the sale and transfer of approximately 51.6% of the outstanding common stock of Digitel to PLDT. The approval of the application was subject to conditions which included the divestment by PLDT of CURE, in accordance with the Divestment Plan, as follows: • CURE is obligated to sell its Red Mobile • Smart is obligated to sell all of its rights and interests in CURE whose remaining assets will consist of its congressional franchise, 10 Megahertz, or MHz, of 3G frequency in the 2100 band and related permits. In compliance with the commitments in the divestment plan, CURE completed the sale and transfer of its Red Mobile Red Mobile Red Mobile In a letter dated July 26, 2012, Smart informed the NTC that it has complied with the terms and conditions of the divestment plan as CURE had rearranged its assets, such that, except for assets necessary to pay off obligations due after June 30, 2012 and certain tax assets, CURE’s only remaining assets as at June 30, 2012 were its congressional franchise, the 10 MHz of 3G frequency in the 2100 band and related permits. In a letter dated September 10, 2012, Smart informed the NTC that the minimum Cost Recovery Amount, or CRA, to enable PLDT to recover its investment in CURE includes, among others, the total cost of equity investments in CURE, advances from Smart for operating requirements, advances from stockholders and associated funding costs. In a letter dated January 21, 2013, the NTC referred the computation of the CRA to the Commissioners of the NTC. In a letter dated March 5, 2018, PLDT informed the NTC that it is waiving its right to recover any and all cost related to the 10MHz of 3G radio frequency previously assigned to CURE. Accordingly, CURE will not claim any cost associated with it in the event of subsequent assignment by the NTC to another qualified telecommunication company. With the foregoing, PLDT is deemed to have fully complied with its obligation to divest from CURE as a condition to the sale and transfer of Digitel shares to PLDT. In 2018, Smart recognized full impairment of its receivable from CURE, due to uncertainty of collectability, and its investments in PHC and FHI, which holds the 97% and 3% interest in CURE, respectively. These transactions were eliminated in our consolidated financial statements. Incorporation of Talas On June 9, 2015, the PLDT’s Board of Directors approved the incorporation of Talas, a wholly-owned subsidiary of PLDT. Total subscription in Talas amounted to Php250 million, of which Php62.5 million was paid on May 25, 2015, for purposes of incorporation, and the balance of Php187.5 million was paid on May 16, 2016. PLDT provided Talas an additional equity investment of Php120 million, Php150 million and Php115 million on January 31, 2017, February 28, 2017 and March 31, 2017, respectively, as approved by PLDT’s Board of Directors in June 2016. Talas is tasked with unifying the digital data assets of the PLDT Group which involves the implementation of the Intelligent Data Fabric, exploration of revenue opportunities and the delivery of the big data capability platform. Agreement between PLDT Capital and Gohopscotch, Inc., or Hopscotch On April Transfer of DMPI’s Sun Postpaid Cellular and Broadband Subscription Assets to Smart On August 1, 2016, the Board of Directors of Smart and DMPI approved the sale/transfer of DMPI’s trademark and subscribers (both individual and corporate) including all of DMPI’s assets, rights and obligations directly or indirectly connected to its postpaid cellular and broadband subscribers. The transfer is in accordance with the integration of the wireless business to simplify business operations, as well as to provide flexibility in offering new bundled/converged products and enhanced customer experience. The transfer was completed on November 1, 2016, after which only its prepaid cellular business remains with DMPI. This transaction was eliminated in our consolidated financial statements. Extension of Smart’s Congressional Franchise On March 27, 1992, Philippine Congress granted a legislative franchise to Smart under Republic Act, or R.A., No. 7294 to establish, install, maintain, lease and operate integrated telecommunications, computer, electronic services, and stations throughout the Philippines for public domestic and international telecommunications, and for other purposes. R.A. No. 7294 took effect on April 15, 1992, or 15 days from the date of its publication in at least two newspapers of general circulation in the Philippines. On April 21, 2017, R.A. No. 10926, which effectively extends Smart’s franchise until 2042, was signed into law by the President of the Republic of the Philippines. The law was published in a newspaper of general circulation on May 4, 2017 and took effect on May 19, 2017. Decrease in Authorized Capital Stock and Amendment of the Articles of Incorporation of MIC On May 30, 2017, the Board of Directors of MIC approved the (a) reduction of MIC’s authorized capital stock from Php2,028 million divided into 20 million shares to Php1,602 million by decreasing the par value per share from Php100.00 to Php79.00, or the Decrease in Capital, and (b) the corresponding amendment to the Seventh Article of the Articles of Incorporation of MIC, or the Amendment of Articles. On the same date, the Decrease in Capital and Amendment of Articles were approved by the stockholders representing at least two thirds of the outstanding shares of MIC. The application for approval of the Decrease in Capital and Amendment of Articles was filed with the Philippine Securities and Exchange Commission, or Philippine SEC, on July 11, 2017 and was approved on December 18, 2017. Transfer of SBI’s Home Broadband Subscription Assets to PLDT On September 26, 2017, the Board of Directors of PLDT and SBI, a subsidiary providing wireless broadband services, approved the sale and transfer of SBI’s trademark and subscribers, and all of SBI’s assets, rights and obligations directly or indirectly connected to its HOME Ultera and HOMEBRO Wimax businesses to PLDT. The transfer was effective January 1, 2018. Subscription assets and trademark are amortized over two years and 10 years, respectively, using the straight-line method of accounting. SBI’s businesses are currently being managed by PLDT pursuant to the Operations Maintenance and Management Agreement between PLDT and SBI effective October 1, 2012. Subsequent to the transfer, SBI will continue to provide broadband services to its existing Canopy subscribers using a portion of Smart’s network. The transfer is in accordance with the said agreement and in order to achieve the expected benefits, as follows: • Seamless upgrades of PLDT products; • Flexibility for business in cross-selling of PLDT products; and • Enhanced customer experience. On December 18, 2017, PLDT settled the partial consideration to SBI amounting to Php1,294 million. The remaining balance of Php1,152 million was fully paid on July 31, 2018. This transaction was eliminated in our consolidated financial statements. Transfer of iCommerce Pte. Ltd., or iCommerce, to PLDT Online On December 14, 2017, VIH and PLDT Online entered into a Sale and Purchase Agreement, or SPA, whereby VIH sold all of its 10 thousand ordinary shares in iCommerce to PLDT Online for a total purchase price of SG$1.00. On the same date, VIH assigned its loans receivables from iCommerce to PLDT Online amounting to US$8.6 million. In consideration, a total of US$8.9 million, inclusive of interest, was fully paid by PLDT Online to VIH on November 30, 2017. See Note 10 – Investments in Associates and Joint Ventures – Investments in Joint Ventures – iCommerce’s Investment in PHIH Issuance of Perpetual Notes In 2017, Smart issued various perpetual notes, including Php1,100 million perpetual notes to Rizal Commercial Banking Corporation, or RCBC, Trustee of PLDT’s Redemption Trust Fund. See Note 19 – Equity – Perpetual Notes Agreement between PLDT, Smart and Amdocs Philippines, Inc., or Amdocs On January 24, 2018, PLDT and Smart entered into a seven-year, US$300 million Managed Transformation Agreement with Amdocs, a leading provider of software and services to communications and media companies, to upgrade PLDT’s business IT systems and improve its business processes and services, aimed at enhancing consumer satisfaction, reducing costs and generating increased revenues. On September 28, 2018, PLDT and Amdocs expanded their strategic partnership under a new six-year service agreement to consolidate, modernize and manage PLDT and Smart’s IT Infrastructure, to further enhance customer experience and engagement. Consolidation of the Digital Investments of Smart under PCEV On February 27, 2018, the Board of Directors of PCEV approved the consolidation of the various Digital Investments under PCEV, which was carried out through the following transactions: (i) PCEV entered into a Share Purchase Agreement with Voyager to purchase 53 million ordinary shares of VIH, representing 100% of the issued and outstanding ordinary shares of VIH, for a total consideration of Php465 million. The total consideration was settled on March 15, 2018, while the transfer of shares to PCEV was completed on April 6, 2018; (ii) VIH entered into a Share Purchase Agreement with Smart to purchase all of its 170 million common shares of Voyager for a total consideration of Php3,527 million. The total consideration was settled on April 16, 2018; and (iii) PCEV entered into a Subscription Agreement with VIH to subscribe to additional 96 million ordinary shares of VIH, with a par value of SG$1.00 per ordinary share, for a total subscription price of SG$96 million, or Php3,806 million, which was settled on April 13, 2018. Loss of Control of PCEV over VIH On October 4, 2018, PLDT, as the ultimate Parent Company of PCEV, VIH, Vision Investment Holdings Pte. Ltd., or Vision, an entity indirectly controlled by KKR and Cerulean Investment Limited, or Cerulean, an entity indirectly owned and controlled by Tencent, entered into subscription agreements under which Vision and Cerulean, or the Lead Investors, will separately subscribe to and VIH will allot and issue to the Lead Investors a total of up to US$175 million Convertible Class A Preferred Shares of VIH, with an option for VIH to allot and issue up to US$50 million Convertible Class A Preferred Shares to such follower investors as may be agreed among VIH, PLDT and the Lead Investors, or the upsize option. On November 26, 2018, PLDT, IFC and IFC EAF, a fund managed by IFC Asset Management Company, entered into subscription agreements under which IFC and IFC EAF, the follower investors, will separately subscribe to and VIH will allot and issue to the follower investors a total of up to US$40 million Convertible Class A Preferred Shares of VIH pursuant to the upsize option. The foregoing investment in VIH is not subject to the compulsory merger notification regime under the Philippine Competition Act and its implementing Rules and Regulations. In addition, the Bangko Sentral ng Pilipinas confirmed that it interposes no objection to the investment. On November 28, 2018, VIH received the US$175 million funding from KRR and Tencent. Subsequently, VIH received the US$40 million funding from IFC and IFC EAF. As a result, PCEV’s ownership was reduced to 48.74% and retained only two out of the five Board seats in VIH, which resulted to a loss of control. Upon the loss of control, VIH was deconsolidated and the fair market value of the investment amounting to Php10,748 million was recorded as an investment in associate and PCEV recognized gain on deconsolidation amounting to Php12,054 million, which was presented as part of other income (expenses) – net account in our consolidated income statement. The carrying value of PCEV’s investment in VIH amounted to Php10,487 million as at December 31, 2018. See Note 10 – Investments in Associates and Joint Ventures – Investment in PCEV in VIH . ePLDT’s Additional Investment in ePDS On March 5, 2018 and August 7, 2018, the Board of Directors of ePLDT approved the additional investment in ePDS amounting to Php134 million and Php66 million, respectively, thereby increasing its equity interest in ePDS from 67% to 95%. This transaction was eliminated in our consolidated financial statements. New and Amended Standards and Interpretations The accounting policies adopted are consistent with those of the previous financial year, except that the we have adopted the following new standards and amendments starting January 1, 2018. Except for the adoption of IFRS 9, Financial Instruments (2014) Revenue from Contract with Customers • Amendments to , Insurance Contracts, Applying , Financial Instruments, with , Insurance Contract • Amendments to International Accounting Standards, or IAS, 28 , Measuring an Associate or Joint Venture at Fair Value • Amendments to IAS 40 , Investment Property, Transfers of Investment Property • International Financial Reporting Interpretations Committee, or IFRIC, 22 , Foreign Currency Transactions and Advance Consideration • Amendment to First-time Adoption of International Financial Reporting Standards, Deletion of short-term Exemptions for First-time Adopters • IFRS 9 We have adopted IFRS 9 with a date of initial application of January 1, 2018. IFRS 9 replaces IAS 39, Financial Instruments: Recognition and Measurement We chose not to restate comparative figures as permitted by the transitional provisions of IFRS 9, thereby resulting in the following impact: • Comparative information for prior periods was not restated. The classification and measurement requirements previously applied in accordance with IAS 39 and disclosures required in IFRS 7 were retained for the comparative periods. Accordingly, the information presented for 2017 does not reflect the requirements of IFRS 9. • We disclosed the accounting policies for both the current period and the comparative periods, one applying IFRS 9 beginning January 1, 2018 and one applying IAS 39 as at December 31, 2017. • The difference between the previous carrying amount and the carrying amount at the beginning of the annual reporting period that includes the date of initial application was recognized in the opening retained earnings or other component of equity, as appropriate. • As comparative information was not restated, we are not required to provide a third statement of financial information at the beginning of the earliest comparative period in accordance with Presentation of Financial Statements As at January 1, 2018, we have reviewed and assessed all of its existing financial instruments. The following table reconciles the carrying amounts of financial instruments from their previous classification and measurement category in accordance with IAS 39 to their new classification and measurement categories upon transition to IFRS 9 on January 1, 2018. IAS 39 Remeasurement IFRS 9 Reference Category Amount Reclassification ECL Others Amount Category (in million pesos) Financial Assets Cash and cash equivalents Loans and receivables 32,905 — — — 32,905 Amortized Cost Short-term investments Loans and receivables 1,074 — — — 1,074 Amortized Cost Trade and other receivables 3, 5 Loans and receivables 33,761 (4,091 ) (258 ) — 29,412 Amortized Cost Current portion of investment in debt securities and other long-term investments Loans and receivables 100 — — — 100 Amortized Cost Current portion of advances and other noncurrent assets 3, 5 Loans and receivables 6,824 (6,785 ) — — 39 Amortized Cost Less: To Financial instruments at FVPL (6,785 ) To Financial instruments at FVOCI (4,091 ) Advances and other noncurrent assets – net of current portion 3, 5 Loans and receivables 13,855 (11,461 ) (18 ) — 2,376 Amortized Cost Less: To Financial instruments at FVOCI (11,461 ) Investment in debt securities and other long-term investments – net of current portion 2 N/A 150 — — 150 Amortized Cost Add: From HTM investments 150 Loans and receivables 88,519 (22,187 ) (276 ) — 66,056 Amortized Cost Investment in debt securities and other long-term investments – net of current portion 2 Held-to- maturity 150 (150 ) Less: To Financial instruments at amortized cost (150 ) Held-to- maturity 150 (150 ) Current portion of derivative financial assets 1 Derivatives used for hedging 171 (171 ) — — — Derivative financial assets – net of current portion 1 Derivatives used for hedging 215 (215 ) — — — Current portion of derivative financial liabilities 1 Derivatives used for hedging (51 ) 51 — — — Derivative financial liabilities – net of current portion 1 Derivatives used for hedging (8 ) 8 — — — Less: To financial assets at FVPL (327 ) Derivatives used for hedging 327 (327 ) Available-for-sale financial investments 4 Available- for-sale financial investments 15,165 (15,165 ) — — — Less: To financial assets at FVPL (15,165 ) Available- for-sale financial investments 15,165 (15,165 ) — — — Trade and other receivables 3, 5 N/A 4,091 — (8 ) 4,083 FVOCI Advances and other noncurrent assets – net of current portion 3, 5 N/A 11,461 — (128 ) 11,333 FVOCI Add: From Loans and receivables 15,552 15,552 — (136 ) 15,416 FVOCI Current portion of derivative financial assets 1 N/A 171 — — 171 FVPL Derivative financial assets – net of current portion 1 N/A 215 — — 215 FVPL Current portion of derivative financial liabilities 1 N/A (51 ) — — (51 ) FVPL Derivative financial liabilities – net of current portion 1 N/A (8 ) — — (8 ) FVPL Current portion of advances and other noncurrent assets 3 N/A 6,785 — — 6,785 FVPL Available-for-sale financial investments 4 N/A 15,165 — — 15,165 FVPL Add: From Loans and receivables 6,785 — — — From Available-for-sale financial investments 15,165 — — — From Derivatives used for hedging 327 — — — 22,277 — — 22,277 FVPL (1) (2) (3) (4) (5) Classification and measurement Except for certain trade receivables, under IFRS 9, we initially measure a financial asset at its fair value plus, in the case of a financial asset not at FVPL, transaction costs that are directly attributable to the acquisition or issue of the financial asset. Under IFRS 9, debt financial instruments are subsequently measured at FVPL, amortized cost, or FVOCI with recycling of gains or losses to profit or loss upon derecognition. The classification is based on two criteria: (1) whether the instruments’ contractual cash flows represent ‘solely payments of principal and interest’ on the principal amount outstanding, or the SPPI criterion; and (2) our business model for managing the financial assets portfolio. A debt instrument is measured at amortized cost if the cash flows are considered as SPPI and business model’s objective is to hold assets to collect contractual cash flows, and is not designated as at FVPL. This category includes cash and cash equivalents, short-term investments, trade and other receivables, debt instruments at amortized cost and other financial assets – net of current portion. A debt instrument is measured at FVOCI if the cash flows are considered as SPPI and business model’s objective is both hold assets to collect contractual cash flows and sell financial assets, and is not designated as at FVPL. On initial recognition of equity instruments that are not held for trading, we may irrevocably elect to present subsequent changes in the investment’s fair value in other comprehensive income. This election is made on an investment-by-investment basis. All financial assets not classified as measured at amortized cost or FVOCI as described above are measured at FVPL. Financial assets at FVPL include all derivative instruments, equity instruments that are held for trading and equity instruments that are not held for trading which we have not irrevocably elected, at initial recognition or transition, to classify at FVOCI. This category also include debt instruments whose cash flow characteristic meet the SPPI criterion, but business model is neither hold assets to collect contractual cash flows nor collecting contractual cash flows and selling financial assets. We have not elected the option to irrevocably designate previous available-for-sale equity instruments as equity instruments at FVOCI. Quoted and unquoted equity securities that were previously classified as AFS financial assets under IAS 39 were reclassified as financial assets at FVPL upon adoption of IFRS 9. Upon transition, the AFS reserve relating to these equity securities, which had been previously accumulated under other comprehensive income, was reclassified to retained earnings. The assessment of our business models was made as at the date of initial application, January 1, 2018, and applied modified retrospectively to those financial assets that were not derecognized before January 1, 2018. The assessment of whether contractual cash flows on debt instruments are solely payments of principal and interest was made based on the facts and circumstances as at the initial recognition of the assets. The effect of adopting IFRS 9 as at January 1, 2018 were, as follows: Reference Increase (Decrease) (in million pesos) Assets: Financial assets at FVOCI 3 (136 ) Total assets (136 ) Total adjustment on equity: Retained earnings 4 4,491 Other comprehensive income 4 (4,627 ) (136 ) Impairment IFRS 9 requires recording of expected credit losses, or ECL, for all debt securities not classified as at FVPL, together with contract assets, lease receivables, loan commitments and financial guarantee contracts. ECL represents credit losses that reflect an unbiased and probability-weighted amount which is determined by evaluating a range of possible outcomes, the time value of money and reasonable and supportable information about past events, current conditions and forecasts of future economic conditions. In comparison, the incurred loss model under IAS 39 recognizes lifetime credit losses only when there is objective evidence of impairment. The ECL model eliminates the loss event required under the incurred loss model, and lifetime ECL is recognized earlier under IFRS 9. The objective of the new impairment model is to record lifetime losses on all financial assets which have experienced a significant increase in credit risk from initial recognition. As a result, ECL allowances will be measured at amounts equal to either: (i) 12-month ECL; or (ii) lifetime ECL for those financial instruments which have experienced a significant increase in credit risk since initial recognition (General Approach). The 12-month ECL is the portion of lifetime ECL that results from default events on a financial instrument that are possible within the 12 months after the reporting date. Lifetime ECL |
Management's Use of Accounting
Management's Use of Accounting Judgments, Estimates and Assumptions | 12 Months Ended |
Dec. 31, 2018 | |
Text Block1 [Abstract] | |
Management's Use of Accounting Judgments, Estimates and Assumptions | 3. Management’s Use of Accounting Judgments, Estimates and Assumptions The preparation of our consolidated financial statements in conformity with IFRS requires us to make judgments, estimates and assumptions that affect the reported amounts of our revenues, expenses, assets and liabilities and disclosure of contingent liabilities at the end of each reporting period. The uncertainties inherent in these assumptions and estimates could result in outcomes that could require a material adjustment to the carrying amount of the assets or liabilities affected in the future years. Judgments and estimates are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Judgments, key assumptions concerning the future, and other key sources of estimation uncertainty at the end of the reporting period, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period are consistent with those applied in the most recent annual financial statements, except for those that relate to the adoption of IFRS 9 and IFRS 15. Selected critical judgments and estimates applied in the preparation of the annual consolidated financial statements as discussed below: Judgments In the process of applying our accounting policies, management has made judgments, apart from those involving estimations which have the most significant effect on the amounts recognized in our financial statements. Revenue Recognition – Beginning January 1, 2018 Identifying performance obligations We identify performance obligations by considering whether the promised goods or services in the contract are distinct goods or services. A good or service is distinct when the customer can benefit from the good or service on its own or together with other resources that are readily available to the customer and our promise to transfer the good or service to the customer is separately identifiable from the other promises in the contract. Revenues earned from multiple element arrangements offered by our fixed line and wireless businesses are split into separately identifiable performance obligations based on their relative stand-alone selling price in order to reflect the substance of the transaction. The transaction price represents the best evidence of stand-alone selling price for the services we offer since this is the observable price we charge if our services are sold separately. We account for customer contracts in accordance with IFRS 15 and have concluded that the service (telecommunication service) and non-service components (handset or equipment) may be accounted for as separate performance obligations. The handset or equipment is delivered first, followed by the telecommunication service (which is provided over the contract/lock-in period, generally two years). Revenue attributable to the separate performance obligations are based on the allocation of the transaction price relative to the stand-alone selling price. Installation fees for voice services are considered as a single performance obligation together with monthly service fees, recognized over the customer subscription period since the subscriber cannot benefit from the installation services on its own or together with other resources that are readily available to the subscriber. Installation fees for data services are also not capable of being distinct from the sale of modem since the subscriber obtains benefit from the combined output of the installation services and the device, and is recognized upon delivery of the modem and performance of modem installation. Principal versus agent consideration We enter into contracts with its customers involving multiple deliverable arrangements. We determined that we control the goods before they are transferred to customers, and we have the ability to direct the use of the inventory. The following factors indicate that we control the goods before they are being transferred to customers. Therefore, we determined that it is a principal in these contracts. • We are primarily responsible for fulfilling the promise to provide the specified equipment. • We bear inventory risk on our inventory before it has been transferred to the customer. • We have discretion in establishing the prices for the other party’s goods or services and, therefore, the benefit that we can receive from those goods or services is not limited. It is incumbent upon us to establish the price of our services to be offered to our subscribers. • Our consideration in these contracts is the entire consideration billed to the service provider. Timing of revenue recognition We recognize revenue from contracts with customers over time or at a point in time depending on our evaluation of when the customer obtains control of the promised goods or services and based on the extent of progress towards completion of the performance obligation. For the telecommunication service which is generally provided over the contract period of two years, because control is transferred over time, revenue is recognized monthly as we provide the service. For the handset which is provided at the inception of the contract, because control is transferred at a point in time, revenue is recognized at the time of delivery. Identifying methods for measuring progress of revenue recognized over time We determine the appropriate method of measuring progress which is either through the use of input or output methods. Input method recognizes revenue on the basis of the entity’s efforts or inputs to the satisfaction of a performance obligation while output method recognizes revenue on the basis of direct measurements of the value to the customer of the goods or services transferred to date. Revenue from telecommunication services is recognized through the use of input method wherein recognition is over time based on the customer subscription period since the customer simultaneously receives and consumes the benefits as the seller renders the services. Significant financing component We concluded that the handset component included in contracts with customers has a significant financing component considering the period between the customer’s payment of the price of the handset and time of the transfer of control over the handset, which is more than one year. In determining the interest to be applied to the amount of consideration, we concluded that the interest rate is the market interest rate adjusted with credit spread to reflect the customer credit risk that is commensurate with the rate that would be reflected in a separate financing transaction between us and our customer at contract inception. Estimation of stand-alone selling price We assessed that the service and the handset represent separate performance obligations and thus, the amount of revenues should be recognized based on the allocation of the transaction price to the different performance obligations based on their stand-alone selling prices. The stand-alone selling price is the price at which we sell the good or service separately to a customer. However, if goods or services are not currently offered separately, we use the adjusted market or cost-plus margin method to determine the stand-alone selling price to be used in the revenue allocation. In terms of allocation of transaction price between performance obligations, we assessed that allocating the transaction price using the stand-alone selling prices of the services and handset will result in more revenue allocated to non-service component as compared to our old practice. The stand-alone selling price is based on the price in which we regularly sells the non-service and service component in a separate transaction. Financial Instruments – Beginning January 1, 2018 Evaluation of business models in managing financial instruments We determine our business model at the level that best reflects how we manage groups of financial assets to achieve our business objective. Our business model is not assessed on an instrument-by-instrument basis, but a higher level of aggregated portfolios and is based on observable factors such as: a. How the performance of the business model and the financial assets held within that business model are evaluated and reported to the entity’s key management personnel; b. The risks that affect the performance of the business model (and the financial assets held within that business model) and, in particular, the way those risks are managed; and c. The expected frequency, value and timing of sales are also important aspects of our assessment. The business model assessment is based on reasonably expected scenarios without taking 'worst case' or 'stress case’ scenarios into account. If cash flows after initial recognition are realized in a way that is different from our original expectations, we do not change the classification of the remaining financial assets held in that business model, but incorporates such information when assessing newly originated or newly purchased financial assets going forward. We have determined that for cash and cash equivalents, investment in debt securities and other long-term investments ( Note 12 – Debt Instruments at Amortized Cost/Investment in Debt Securities and Other Long-term Investments IFRS 9, however, emphasizes that if more than an infrequent number of sales are made out of a portfolio of financial assets carried at amortized cost, the entity should assess whether and how such sales are consistent with the objective of collecting contractual cash flows. Definition of default and credit-impaired financial assets We define a financial instrument as in default, which is fully aligned with the definition of credit-impaired, when it meets one or more of the following criteria: Quantitative criteria For trade receivables and all other financial assets subject to impairment, default occurs when the receivable becomes 90 days past due, except for trade receivables from Corporate subscribers, which are determined to be in default when the receivables become 120 days past due. Qualitative criteria The counterparty meets unlikeliness to pay criteria, which indicates the counterparty is in significant financial difficulty. These are instances where: a. The counterparty is experiencing financial difficulty or is insolvent; b. The counterparty is in breach of financial covenant(s); c. An active market for that financial assets has disappeared because of financial difficulties; d. Concessions have been granted by the Group, for economic or contractual reasons relating to the counterparty’s financial difficulty; e. It is becoming probable that the counterparty will enter bankruptcy or other financial reorganization; and f. Financial assets are purchased or originated at a deep discount that reflects the incurred credit losses. The criteria above have been applied to all financial instruments, except FVPL, held by the Group and are consistent with the definition of default used for internal credit risk management purposes. The default definition has been applied consistently to the ECL models throughout our expected loss calculation. Significant increase in credit risk At each reporting date, the Group assesses whether there has been a significant increase in credit risk for financial assets since initial recognition by comparing the risk of default occurring over the expected life between the reporting date and the date of initial recognition. The Group considers reasonable and supportable information that is relevant and available without undue cost or effort for this purpose. This includes quantitative and qualitative information and forward-looking analysis. An exposure will migrate through the ECL stages as asset quality deteriorates. If, in a subsequent period, asset quality improves and also reverses any previously assessed significant increase in credit risk since origination, then the loss allowance measurement reverts from lifetime ECL to 12-months ECL. Using our judgment and, where possible, relevant historical experience, we may determine that an exposure has undergone a significant increase in credit risk based on particular qualitative indicators that we consider are indicative of such and whose effect may not otherwise be fully reflected in its quantitative analysis on a timely basis. As a backstop, we consider that a significant increase in credit risk occurs no later than when an asset is more than 30 days past due. Days past due are determined by counting the number of days since the earliest elapsed due date in respect of which full payment has not been received. Due dates are determined without considering any grace period that might be available to the counterparty. Exposures that have not deteriorated significantly since origination, or where the deterioration remains within our investment grade criteria, or which are less than 30 days past due, are considered to have a low credit risk. The provision for credit losses for these financial assets is based on a 12-month ECL. The low credit risk exemption has been applied on debt investments that meet the investment grade criteria of the PLDT Group. Impairment of available-for-sale equity investments – Prior to January 1, 2018 For available-for-sale financial investments, we assess at each reporting date whether there is objective evidence that an investment or a group of investments is impaired. In the case of equity investments classified as available-for-sale financial investments, objective evidence would include a significant or prolonged decline in the fair value of the investment below its cost. The determination of what is “significant” or “prolonged” requires judgment. We treat “significant” generally as decline of 20% or more below the original cost of investment, and “prolonged” as greater than 12 months assessed against the period in which the fair value has been below its original cost. Based on our judgment, the decline in fair value of our investment in Rocket Internet SE, or Rocket Internet, was considered significant as the cumulative net losses from changes in fair value represented more than 20% decline in value below cost. As a result, total cumulative impairment losses recognized on our investment in Rocket Internet amounted to Php11,045 million as at December 31, 2017. Impairment losses charged in our consolidated income statements amounted to Php540 million and Php5,381 million for the years ended December 31, 2017 and 2016, respectively. See related discussion on Note 11 – Financial Assets at FVPL/Available-for-Sale Financial Investments – Investment of PLDT Online in Rocket Internet. Determination of functional currency The functional currencies of the entities under the PLDT Group are the currency of the primary economic environment in which each entity operates. It is the currency that mainly influences the revenue from and cost of rendering products and services. The presentation currency of the PLDT Group is the Philippine peso. Based on the economic substance of the underlying circumstances relevant to the PLDT Group, the functional currency of all entities under PLDT Group is the Philippine peso, except for (a) SMHC, FECL Group, PLDT Global and certain of its subsidiaries, DCPL, PGNL and certain of its subsidiaries, Chikka and certain of its subsidiaries and PGIC, which uses the U.S. dollar; (b) VIP, VIH, VII, VIS, iCommerce, Fintech Ventures, 3 rd Reclassification of certain land and building from investment property to property and equipment In 2018, ePLDT reclassified certain land and building amounting to Php1,236 million from investment property to property and equipment because of the change in use of the assets. Prior to reclassification, these land and building were previously held for rental to third party lessees up to the end of the lease arrangement in 2018. Then Management decided not to renew the lease contracts but instead use the land and building for business operations. As such, Management believes that the reclassification to property and equipment is appropriate given the change in use of these assets. Leases As a lessee, we have various lease agreements in respect of certain equipment and properties. We evaluate whether significant risks and rewards of ownership of the leased properties are transferred to us (finance lease) or retained by the lessor (operating lease) based on IAS 17. Total lease expense amounted to Php7,321 million, Php7,016 million and Php6,632 million for the years ended December 31, 2018, 2017 and 2016, respectively. Total finance lease obligations amounted to Php514 thousand and Php679 thousand as at December 31, 2018 and 2017, respectively. See Note 2 – Summary of Significant Accounting Policies, Note 5 – Income and Expenses – Selling, General and Administrative Expenses, Note 20 – Interest-bearing Financial Liabilities – Obligations under Finance Leases Note 27 – Financial Assets and Liabilities – Liquidity Risk Accounting for investment in Multisys Technologies Corporation, or Multisys On December 3, 2018, PGIH completed the closing of its investment in Multisys. PGIH paid Php523 million to the owner of Multisys for the acquisition of existing shares and invested Php800 million into Multisys as a deposit for future stock subscription pending the approval by the Philippine SEC of the capital increase of Multisys. Based on our judgment, at the PLDT Group level, PGIH’s investments in Multisys gives PGIH a joint control in Multisys and thus are accounted for as investments in joint ventures using the equity method. Accounting for investments in MediaQuest Holdings, Inc., or MediaQuest, through Philippine Depositary Receipts, or PDRs ePLDT made various investments in PDRs issued by MediaQuest in relation to its direct interest in Satventures, Inc., or Satventures, and Hastings Holdings, Inc., or Hastings, and indirect interest in Cignal TV, Inc., or Cignal TV. Based on our judgment, at the PLDT Group level, ePLDT’s investments in PDRs gives ePLDT a significant influence over Satventures, Hastings and Cignal TV as evidenced by provision of essential technical information and material transactions among PLDT, Smart, Satventures, Hastings and Cignal TV, and thus are accounted for as investments in associates using the equity method. On February 15, 2018, ePLDT ceased to have any economic interest in Hastings as a result of the assignment of the Hastings PDRs to PLDT Beneficial Trust Fund. See related discussion on Note 10 – Investments in Associates and Joint Ventures – Investments in Associates – Investment in MediaQuest PDRs Assessment of loss of control over VIH PLDT assesses the consequences of changes in the ownership interest in a subsidiary that may result in a loss of control as well as the consequence of losing control of a subsidiary during the reporting period. Whether or not PLDT retains control over the subsidiary depends on an evaluation of a number of factors that indicate if there are changes to one or more of the three elements of control. When PLDT has less than majority of the voting rights or similar rights to an investee, PLDT considers all relevant facts and circumstances in assessing whether it has power over an investee, including, among others, representation on its board of directors, voting rights, and other rights of other investors, including their participation in significant decisions made in the ordinary course of business. As a result of the subscriptions of the new investors in VIH, see Note 2 – Summary of Significant Accounting Policies – Loss of Control over VIH Note 10 – Investments in Associates and Joint Ventures – Investment of PCEV in VIH Accounting for investments in Vega Telecom Inc., or VTI, Bow Arken Holdings Company, or Bow Arken, and Brightshare Holdings, Inc., or Brightshare On May 30, 2016, PLDT acquired a 50% equity interest in each of VTI, Bow Arken and Brightshare. See related discussion on Note 10 – Investments in Associates and Joint Ventures – Investments in Joint Ventures Based on these rights, PLDT and Globe have joint control over VTI, Bow Arken and Brightshare, which is defined in IFRS 11 , Joint Arrangements, Accordingly, PLDT accounted for the investment in VTI, Bow Arken and Brightshare using the equity method of accounting in accordance with IAS 28. Under the equity method of accounting, the investment is initially recognized at cost and adjusted thereafter for the post-acquisition change in the investor’s share of the investee’s net assets. Accounting for investment in Beacon Electric Asset Holdings, Inc., or Beacon, under equity method IAS 28 provides that where an entity holds 50% or more of the voting power (directly or through subsidiaries) on an investee, it will be presumed that the investor has significant influence, unless it can be clearly demonstrated that this is not the case. If the ownership interest is less than 20%, the entity will be presumed not to have significant influence unless such influence can be clearly demonstrated. A substantial or majority ownership by another investor does not necessarily preclude an entity from having significant influence. The existence of significant influence by an entity is usually evidenced in one or more of the following ways: • Representation on Board of Directors or equivalent governing body of the investee; • Participation in the policy-making process, including participation in decisions about dividends or other distributions; • Material transactions between the entity and the investee; • Interchange of managerial personnel; or • Provision of essential technical information On May 30, 2016, PCEV’s Board of Directors approved the sale of 646 million shares of common stock and 458 million shares of preferred stock of Beacon, representing 25% equity interest in Beacon to MPIC. After the sale, PCEV’s equity ownership in Beacon was reduced from 50% to 25% and PCEV’s effective interest in Meralco through Beacon was reduced to 8.74% (i.e., 25% x 34.96%). MPIC agreed that for as long as: As at December 31, 2016, Beacon owns 3,894 million shares of stock representing approximately 34.96% equity interest in Meralco. See Note 10 – Investments in Associates and Joint Ventures – Investment of PCEV in Beacon On June 13, 2017, PCEV entered into another Share Purchase Agreement with MPIC to sell its remaining 25% equity interest in Beacon for a total consideration of Php21,800 million. MPIC settled a portion of the consideration amounting to Php12,000 million upon closing and the balance of Php9,800 million will be paid in annual installments from June 2018 to June 2021. The unpaid balance from MPIC is measured at fair value using a discounted cash flow valuation method, with interest income to be accreted over the term of the receivable. After the sale of PCEV’s remaining 25% interest in Beacon, PCEV continues to hold its representation in the Board and participate in decision making. As set forth in the Share Purchase Agreement: (a) the Seller shall be entitled to nominate one director to the Board of Directors of PCEV, or Seller’s Director, and MPIC agrees to vote its shares in PCEV in favor of such Seller’s Director; and (b) the Buyer shall cede to the Seller the right to vote all of the Shares, or Proxy Shares. The parties agreed that with respect to decisions or policies affecting dividend payouts to be made by Beacon, the Seller’s Director shall exercise its voting rights, and shall vote, in accordance with the recommendation of the Buyer on such matter. As a result, PCEV’s previously joint control over Beacon has become significant influence. Material partly-owned subsidiaries Our consolidated financial statements include additional information about subsidiaries that have non-controlling interest, or NCI, that are material to us, see Note 6 – Components of Other Comprehensive Loss Material associates and joint ventures Our consolidated financial statements include additional information about associates and joint ventures that are material to us. See Note 10 – Investments in Associates and Joint Ventures Estimates and Assumptions The key estimates and assumptions concerning the future and other key sources of estimation uncertainty at the end of the reporting period that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities recognized in our consolidated financial statements within the next financial year are discussed below. We based our estimates and assumptions on parameters available when our consolidated financial statements were prepared. Existing circumstances and assumptions about future developments, however, may change due to market changes or circumstances arising beyond our control. Such changes are reflected in the assumptions when they occur. Loss of control over VIH – Fair value measurement of interest retained A deemed disposal occurs where the proportionate interest of PLDT in a subsidiary is reduced other than by an actual disposal, for example, by the issuance of shares to a third party investor by the subsidiary. When PLDT no longer has control, the remaining interest is measured at fair value as at the date the control was lost. When determining the fair value, PLDT takes into account recent transactions and all the facts and circumstances surrounding the transactions such as timing, transaction size, transaction frequency, and motivations of the investors. When valuing the shares in associates and joint ventures, PLDT carefully assesses the accounting implications of the stipulation in the shareholders’ agreements. PLDT considers whether such a transaction has been made at arm’s length. Impairment of non-financial assets IFRS requires that an impairment review be performed when certain impairment indicators are present. In the case of goodwill and intangible assets with indefinite useful life, at a minimum, such assets are subject to an impairment test annually and whenever there is an indication that such assets may be impaired. This requires an estimation of the VIU of the CGUs to which these assets are allocated. The VIU calculation requires us to make an estimate of the expected future cash flows from the CGU and to choose a suitable discount rate in order to calculate the present value of those cash flows. See Note 14 – Goodwill and Intangible Assets – Impairment Testing of Goodwill and Intangible Assets with Indefinite Useful Life Determining the recoverable amount of property and equipment, investments in associates and joint ventures, intangible assets, prepayments and other noncurrent assets, requires us to make estimates and assumptions in the determination of future cash flows expected to be generated from the continued use and ultimate disposition of such assets. Future events could cause us to conclude that property and equipment, investments in associates and joint ventures, intangible assets and other noncurrent assets associated with an acquired business are impaired. Any resulting impairment loss could have a material adverse impact on our financial position and financial performance. The preparation of estimated future cash flows involves significant estimations and assumptions. While we believe that our assumptions are appropriate and reasonable, significant changes in our assumptions may materially affect our assessment of recoverable values and may lead to future impairment charges under IFRS. Total asset impairment recognized on noncurrent assets amounted to Php2,122 million, Php3,913 million and Php1,074 million for the years ended December 31, 2018, 2017 and 2016, respectively. See Note 4 – Operating Segment Information, Note 5 – Income and Expenses – Asset Impairment, Note 9 – Property and Equipment – Impairment of Certain Wireless Network Equipment and Facilities Note 10 – Investments in Associates and Joint Ventures The carrying values of our property and equipment, investments in associates and joint ventures, goodwill and intangible assets, and prepayments are separately disclosed in Note 9 – Property and Equipment, Note 10 – Investments in Associates and Joint Ventures, Note 14 – Goodwill and Intangible Assets Note 18 – Prepayments, Estimating useful lives of property and equipment We estimate the useful lives of each item of our property and equipment based on the periods over which our assets are expected to be available for use. Our estimation of the useful lives of our property and equipment is also based on our collective assessment of industry practice, internal technical evaluation and experience with similar assets. The estimated useful lives of each assets are reviewed every year-end and updated if expectations differ from previous estimates due to physical wear and tear, technical or commercial obsolescence and legal or other limitations on the use of our assets. It is possible, however, that future results of operations could be materially affected by changes in our estimates brought about by changes in the factors mentioned above. The amounts and timing of recorded expenses for any period would be affected by changes in these factors and circumstances. A reduction in the estimated useful lives of our property and equipment would increase our recorded depreciation and decrease the carrying amount of our property and equipment. In 2018 and 2017, we shortened the estimated useful lives of certain data network platform and other technology equipment resulting from the transformation projects to improve and simplify the network and systems applications. As a result, we recognized additional depreciation amounting to Php15,807 million and Php19,481 for the years ended December 31, 2018 and 2017, respectively. We expect additional depreciation in 2019 arising from the acceleration of the 2018 technology equipment amounting Php540 million. The total depreciation and amortization of property and equipment amounted to Php47,240 million, Php51,915 million and Php34,455 million for the years ended December 31, 2018, 2017 and 2016, respectively. Total carrying values of property and equipment, net of accumulated depreciation and amortization, amounted to Php195,964 million and Php186,907 million as at December 31, 2018 and 2017, respectively. See Note 2 – Summary of Significant Accounting Policies, Note 4 – Operating Segment Information Note 9 – Property and Equipment Estimating useful lives of intangible assets with finite lives Intangible assets with finite lives are amortized over their expected useful lives using the straight-line method of amortization. At a minimum, the amortization period and the amortization method for an intangible asset with a finite useful life are reviewed at least at each financial year-end. Changes in the expected useful life or the expected pattern of consumption of future economic benefits embodied in the asset are accounted for by changing the amortization period or method, as appropriate, and treated as changes in accounting estimates. The amortization expense on intangible assets with finite lives is recognized in our consolidated income statement. The total amortization of intangible assets with finite lives amounted to Php892 million, Php835 million and Php929 million for the years ended December 31, 2018, 2017 and 2016, respectively. Total carrying values of intangible assets with finite lives amounted to Php2,699 million and Php3,699 million as at December 31, 2018 and 2017, respectively. See Note 2 – Summary of Significant Accounting Policies, Note 4 – Operating Segment Information, Note 5 – Income and Expenses – Selling, General and Administrative Expenses Note 14 – Goodwill and Intangible Assets Recognition of deferred income tax assets We review the carrying amounts of deferred income tax assets at the end of each reporting period and reduce these to the extent that these are no longer probable that sufficient taxable income will be available to allow all or part of the deferred income tax assets to be utilized. Our assessment on the recognition of deferred income tax assets on deductible temporary differences is based on the level and timing of forecasted taxable income of the subsequent reporting periods. This forecast is based on our past results and future expectations on revenues and expenses as well as future tax planning strategies. Based on this, management expects that we will generate sufficient taxable income to allow all or part of our deferred income tax assets to be utilized. Based on the above assessment, our consolidated unrecognized deferred income tax assets amounted to Php3,227 million and P |
Operating Segment Information
Operating Segment Information | 12 Months Ended |
Dec. 31, 2018 | |
Text Block1 [Abstract] | |
Operating Segment Information | 4. Operating Segment Information Operating segments are components of the PLDT Group that engage in business activities from which they may earn revenues and incur expenses (including revenues and expenses relating to transactions with other components of PLDT Group). The operating results of these operating segments are regularly reviewed by the Management Committee to make decisions about how resources are to be allocated to each of the segments and to assess their performances, and for which discrete financial information is available. For management purposes, we are organized into business units based on our products and services. We have three reportable operating segments as follows: • Wireless – mobile telecommunications services provided by Smart and DMPI, our mobile service providers; SBI and PDSI, our wireless broadband service providers; and certain subsidiaries of PLDT Global, our mobile virtual network operations, or MVNO, provider; • Fixed Line – fixed line telecommunications services primarily provided by PLDT. We also provide fixed line services through PLDT’s subsidiaries, namely, ClarkTel, SubicTel, Philcom Group, Maratel, BCC, PLDT Global and certain subsidiaries, and Digitel, all of which together account for approximately 4% of our consolidated fixed line subscribers; data center, cloud, cyber security services, managed information technology services and resellership through ePLDT, IPCDSI Group, AGS Group, Curo and ePDS; business infrastructure and solutions, intelligent data processing and implementation services and data analytics insight generation through Talas; and distribution of Filipino channels and content through PGNL and its subsidiaries; and • Others – VIH and certain subsidiaries, our mobile applications and digital platforms developers and mobile financial services provider; PCEV, PGIH, PLDT Digital and its subsidiaries, and PGIC, our investment companies. See Note 2 – Summary of Significant Accounting Policies The Management Committee monitors the operating results of each business unit separately for purposes of making decisions about resource allocation and performance assessment. Segment performance is evaluated based on net income for the period; earnings before interest, taxes, and depreciation and amortization, or Adjusted EBITDA; Adjusted EBITDA margin; and core income. Net income for the period is measured consistent with net income in our consolidated financial statements. Adjusted EBITDA for the period is measured as net income excluding depreciation and amortization, amortization of intangible assets, asset impairment on noncurrent assets, financing costs, interest income, equity share in net earnings (losses) of associates and joint ventures, foreign exchange gains (losses) – net, gains (losses) on derivative financial instruments – net, provision for (benefit from) income tax and other income (expenses) – net. Adjusted EBITDA margin for the period is measured as Adjusted EBITDA divided by service revenues. Core income for the period is measured as net income attributable to equity holders of PLDT (net income less net income attributable to noncontrolling interests), excluding foreign exchange gains (losses) – net, gains (losses) on derivative financial instruments – net (excluding hedge costs), asset impairment on noncurrent assets, other non-recurring gains (losses), net of tax effect of aforementioned adjustments, as applicable, and similar adjustments to equity share in net earnings (losses) of associates and joint ventures. Segment revenues, segment expenses and segment results include transfers between business segments. These transfers are eliminated in full upon consolidation. Core earnings per common share, or core EPS, for the period is measured as core income divided by the weighted average number of outstanding common shares. See Note 8 – Earnings Per Common Share Adjusted EBITDA, Adjusted EBITDA margin, core income and core EPS are non-IFRS measures. The amounts of segment assets and liabilities and segment profit or loss are based on measurement principles that are similar to those used in measuring the assets and liabilities and profit or loss in our consolidated financial statements, which is in accordance with IFRS. The segment revenues, net income, and other segment information of our reportable operating segments as at and for the years ended December 31, 2018, 2017 and 2016, and are as follows: Wireless Fixed Line Others Inter- segment Transactions Consolidated (in million pesos, except for Adjusted EBITDA margin) December 31, 2018 Revenues External customers 87,193 76,431 1,128 — 164,752 Service revenues 80,265 72,858 1,084 — 154,207 Non-service revenues 6,928 3,573 44 — 10,545 Inter-segment transactions 2,736 8,791 10 (11,537 ) — Service revenues 2,736 8,790 10 (11,536 ) — Non-service revenues — 1 — (1 ) — Total revenues 89,929 85,222 1,138 (11,537 ) 164,752 Results Depreciation and amortization 24,778 22,303 159 — 47,240 Asset impairment 3,319 4,746 — — 8,065 Impairment of investments 60 — 112 — 172 Interest income 719 812 536 (124 ) 1,943 Equity share in net earnings (losses) of associates and joint ventures 62 171 (320 ) — (87 ) Financing costs 1,865 5,195 131 (124 ) 7,067 Provision for income tax 1,333 1,336 1,173 — 3,842 Net income (loss) / Segment profit (loss) 5,725 6,059 7,971 (782 ) 18,973 Adjusted EBITDA 34,235 30,875 (2,688 ) 1,605 64,027 Adjusted EBITDA margin 41 % 38 % (246%) (14%) (42%) Core income 9,760 6,925 9,952 (782 ) 25,855 Assets and liabilities Operating assets 230,182 199,557 30,962 (61,075 ) 399,626 Investments in associates and joint ventures — 43,426 12,001 — 55,427 Deferred income tax assets – net 16,879 12,479 (1,119 ) (542 ) 27,697 Total assets 247,061 255,462 41,844 (61,617 ) 482,750 Operating liabilities 168,837 206,812 16,773 (29,319 ) 363,103 Deferred income tax liabilities – net 2,321 482 367 (189 ) 2,981 Total liabilities 171,158 207,294 17,140 (29,508 ) 366,084 Other segment information Capital expenditures, including capitalized interest (Note 9) 32,248 26,242 — — 58,490 December 31, 2017 Revenues External customers 91,288 67,389 1,249 — 159,926 Service revenues 86,128 63,811 1,226 — 151,165 Non-service revenues 5,160 3,578 23 — 8,761 Inter-segment transactions 1,284 10,952 30 (12,266 ) — Service revenues 1,284 10,946 30 (12,260 ) — Non-service revenues — 6 — (6 ) — Total revenues 92,572 78,341 1,279 (12,266 ) 159,926 Results Depreciation and amortization 36,776 15,001 138 — 51,915 Asset impairment 6,104 2,098 56 — 8,258 Impairment of investments 439 1,583 540 — 2,562 Equity share in net earnings (losses) of associates and joint ventures (129 ) 44 2,991 — 2,906 Interest income 305 695 655 (243 ) 1,412 Financing costs 2,247 5,106 214 (197 ) 7,370 Provision for income tax (2,787 ) 3,680 210 — 1,103 Net income (loss) / Segment profit (loss) (2,215 ) 7,474 8,825 (618 ) 13,466 Adjusted EBITDA 36,395 29,478 (1,307 ) 1,608 66,174 Adjusted EBITDA margin 42 % 39 % (104%) (13%) 44 % Core income 9,812 8,846 9,628 (618 ) 27,668 Assets and liabilities Operating assets 211,983 174,217 34,504 (37,856 ) 382,848 Investments in associates and joint ventures — 44,867 1,263 — 46,130 Deferred income tax assets – net 18,826 11,994 — (354 ) 30,466 Total assets 230,809 231,078 35,767 (38,210 ) 459,444 Operating liabilities 153,622 196,451 13,624 (18,802 ) 344,895 Deferred income tax liabilities – net 2,656 286 424 — 3,366 Total liabilities 156,278 196,737 14,048 (18,802 ) 348,261 Other segment information Capital expenditures, including capitalized interest (Note 9) 27,305 12,994 — — 40,299 December 31, 2016 Revenues External customers 102,639 61,806 817 — 165,262 Service revenues 98,406 58,086 718 — 157,210 Non-service revenues 4,233 3,720 99 — 8,052 Inter-segment transactions 1,448 10,922 30 (12,400 ) — Service revenues 1,448 10,920 30 (12,398 ) — Non-service revenues — 2 — (2 ) — Total revenues 104,087 72,728 847 (12,400 ) 165,262 Results Depreciation and amortization 18,767 15,471 217 — 34,455 Asset impairment 9,016 1,758 268 — 11,042 Impairment of investments — 134 5,381 — 5,515 Interest income 269 707 307 (237 ) 1,046 Equity share in net earnings (losses) of associates and joint ventures (127 ) (40 ) 1,348 — 1,181 Financing costs 2,482 4,917 192 (237 ) 7,354 Provision for income tax (1,257 ) 3,018 148 — 1,909 Net income (loss) / Segment profit (loss) 10,618 8,134 1,410 — 20,162 Adjusted EBITDA 32,915 26,950 (276 ) 1,572 61,161 Adjusted EBITDA margin 33 % 39 % (37%) (13%) 39 % Core income 12,275 7,746 7,836 — 27,857 Assets and liabilities Operating assets 217,964 183,533 22,804 (33,388 ) 390,913 Investments in associates and joint ventures 1,945 40,874 14,039 — 56,858 Deferred income tax assets – net 13,985 13,363 — — 27,348 Total assets 233,894 237,770 36,843 (33,388 ) 475,119 Operating liabilities 161,480 203,777 12,637 (14,879 ) 363,015 Deferred income tax liabilities – net 2,923 384 260 — 3,567 Total liabilities 164,403 204,161 12,897 (14,879 ) 366,582 Other segment information Capital expenditures, including capitalized interest (Note 9) 32,097 10,728 — — 42,825 Certain revenues and expenses in 2017 and 2016 were reclassified to conform with the 2018 presentation. The following table shows the reconciliation of our consolidated net income to our consolidated adjusted EBITDA for the years ended December 31, 2018, 2017 and 2016: 2018 2017 2016 (in million pesos) Consolidated net income 18,973 13,466 20,162 Add (deduct) adjustments: Depreciation and amortization 47,240 51,915 34,455 Financing costs 7,067 7,370 7,354 Provision for income tax 3,842 1,103 1,909 Noncurrent asset impairment 2,122 3,913 1,074 Amortization of intangible assets 892 835 929 Foreign exchange losses – net 771 411 2,785 Impairment of investments (Note 10) 172 2,562 5,515 Equity share in net losses (earnings) of associates and joint ventures 87 (2,906 ) (1,181 ) Gains on derivative financial instruments – net (1,086 ) (533 ) (996 ) Interest income (1,943 ) (1,412 ) (1,046 ) Other income – net (14,110 ) (10,550 ) (9,799 ) Total adjustments 45,054 52,708 40,999 Consolidated Adjusted EBITDA 64,027 66,174 61,161 The following table shows the reconciliation of our consolidated net income income to our consolidated core income for the years ended December 31, 2018, 2017 and 2016: 2018 2017 2016 (in million pesos) Consolidated net income 18,973 13,466 20,162 Add (deduct) adjustments: Depreciation due to shortened life of property and equipment 4,564 12,816 — Noncurrent asset impairment 2,122 3,913 1,074 Manpower rightsizing program, or MRP 1,703 — — Loss in fair value of investments 1,154 — — Foreign exchange losses – net 771 411 2,785 Investment written-off 362 — — Impairment of investments (Note 10) 172 2,562 5,515 Core income adjustment on equity share in net losses of associates and joint ventures 23 60 95 Net income attributable to noncontrolling interests (57 ) (95 ) (156 ) Other nonrecurring income (1,018 ) — — Gains on derivative financial instruments – net, excluding hedge costs (Note 27) (1,135 ) (724 ) (1,539 ) Net tax effect of aforementioned adjustments (1,779 ) (4,741 ) (79 ) Total adjustments 6,882 14,202 7,695 Consolidated core income 25,855 27,668 27,857 The following table shows the reconciliation of our consolidated basic and diluted core EPS to our consolidated basic and diluted EPS attributable to common equity holder of PLDT for the years ended December 31, 2018, 2017 and 2016: 2018 2017 2016 Basic Diluted Basic Diluted Basic Diluted Consolidated core EPS 119.39 119.39 127.79 127.79 128.66 128.66 Add (deduct) adjustments: Gains on derivative financial instruments – net, excluding hedge costs 4.08 4.08 2.34 2.34 4.99 4.99 Core income adjustment on equity share in net losses associates and joint ventures (0.11 ) (0.11 ) (0.28 ) (0.28 ) (0.44 ) (0.44 ) Impairment of investment (0.80 ) (0.80 ) (11.86 ) (11.86 ) (25.52 ) (25.52 ) Investment written-off (1.68 ) (1.68 ) — — — — Foreign exchange losses – net (3.57 ) (3.57 ) (1.74 ) (1.74 ) (10.40 ) (10.40 ) Loss in fair value of investments (5.34 ) (5.34 ) — — — — MRP (5.52 ) (5.52 ) — — — — Asset impairment (9.82 ) (9.82 ) (13.12 ) (13.12 ) (4.96 ) (4.96 ) Depreciation due to shortened life of property and equipment (14.06 ) (14.06 ) (41.52 ) (41.52 ) — — Other nonrecurring income and others 4.71 4.71 — — — — Total adjustments (32.11 ) (32.11 ) (66.18 ) (66.18 ) (36.33 ) (36.33 ) Consolidated EPS attributable to common equity holders of PLDT 87.28 87.28 61.61 61.61 92.33 92.33 The following table presents our revenues from external customers by category of products and services for the years ended December 31, 2018, 2017 and 2016: 2018 2017 2016 (in million pesos) Wireless services Service revenues: Mobile 79,904 83,166 95,066 Home broadband 155 2,547 2,758 MVNO and others 206 415 582 80,265 86,128 98,406 Non-service revenues: Sale of mobile handsets and broadband data modems 6,928 5,160 4,233 Total wireless revenues 87,193 91,288 102,639 Fixed line services Service revenues: Voice 22,986 25,296 25,502 Data 48,858 37,445 31,727 Miscellaneous 1,014 1,070 857 72,858 63,811 58,086 Non-service revenues: Sale of computers, phone units and SIM cards 3,056 2,706 2,907 Point-product-sales 517 872 813 3,573 3,578 3,720 Total fixed line revenues 76,431 67,389 61,806 Other services 1,128 1,249 817 Total revenues 164,752 159,926 165,262 Disclosure of the geographical distribution of our revenues from external customers and the geographical location of our total assets are not provided since the majority of our consolidated revenues are derived from our operations within the Philippines. There is no revenue transaction with a single external customer that accounted for 10% or more of our consolidated revenues from external customers for the years ended December 31, 2018, 2017 and 2016. |
Income and Expenses
Income and Expenses | 12 Months Ended |
Dec. 31, 2018 | |
Analysis Of Income And Expense [Abstract] | |
Income and Expenses | 5. Income and Expenses Revenue from Contracts with Customers Disaggregation of Revenue We derived our revenue from the transfer of goods and services over time and at a point in time in the following major product lines. This is consistent with the revenue information that is disclosed for each reportable segments under IFRS 8, Operating Segments Note 4 – Operating Segment Information Set out is the disaggregation of PLDT Group’s revenue for the year ended December 31, 2018: Revenue Streams Wireless Fixed Line Others Inter- segment Transactions Consolidated (in million pesos) December 31, 2018 Type of good or service Service revenue 83,001 81,648 1,094 (11,536 ) 154,207 Non-service revenue 6,928 3,574 44 (1 ) 10,545 Total revenue from contracts with customers 89,929 85,222 1,138 (11,537 ) 164,752 Timing of revenue recognition Transferred over time 83,001 81,648 1,094 (11,536 ) 154,207 Transferred at a point time 6,928 3,574 44 (1 ) 10,545 Total revenue from contracts with customers 89,929 85,222 1,138 (11,537 ) 164,752 Contract Balances Contract balances as at December 31, 2018 and 2017 consists of the following: 2018 2017 (in million pesos) Trade and other receivables (Note 16) 40,559 48,262 Contract assets 3,399 — Contract liabilities and unearned revenues 7,182 8,363 The decrease in trade and other receivables of Php7,703 million in 2018 was primarily due to decline in wireless postpaid subscriber base. The decrease of Php481 million in contract assets in 2018 compared to the balance as at January 1, 2018 is the result of fewer postpaid new connections during the year. The decrease of Php1,181 million in contract liabilities and unearned revenues compared to the beginning balance in 2018 is due to lower amortization for handsets bundled in certain postpaid plans and lower realized revenues, net of new advance payments from customer contracts. Set out below is the movement in the allowance for expected credit losses of contracts assets. 2018 (in million pesos) Balance at beginning of the year 114 Provisions during the year 17 Balance at end of the year 131 Changes in the contract liabilities and unearned revenues accounts for the year ended December 31, 2018 are as follows: 2018 (in million pesos) Balances as at January 1, 2018, as restated 8,541 Deferred during the year 102,288 Recognized as revenue during the year (103,647 ) Balance at end of the year 7,182 The contract liabilities and unearned revenues accounts as at December 31, 2018 are as follows: 2018 (in million pesos) Long-term advances from postpaid subscribers 145 Short-term advances for installatin services 558 Leased facilities 34 Advance monthly service fees 2,386 Unearned revenues from prepaid contracts 4,059 Total contract liabilities and unearned revenues 7,182 Contract liabilities: Current 87 Noncurrent 58 Unearned revenues: Current 6,563 Noncurrent 474 Contract liabilities and unearned revenues account pertains to long-term advances for equipment included in certain postpaid bundled plans. As at December 31, 2018, the current and noncurrent portion of contract liabilities and unearned revenues amounted to Php6,650 million and Php532 million, respectively. Selling, General and Administrative Expenses Selling, general and administrative expenses for the year sended December 31, 2018, 2017 and 2016 consist of the following: 2018 2017 2016 (in million pesos) Compensation and employee benefits 23,543 22,782 19,928 Repairs and maintenance (Notes 13, 17 and 24) 14,331 12,744 14,706 Professional and other contracted services (Note 24) 12,809 12,168 9,386 Rent (Note 24) 7,321 7,016 6,632 Selling and promotions (Note 24) 6,340 5,908 7,687 Taxes and licenses (Note 26) 4,974 3,970 3,782 Insurance and security services (Note 24) 1,499 1,519 1,736 Communication, training and travel (Note 24) 1,069 1,166 1,249 Amortization of intangible assets (Note 14) 892 835 929 Other expenses 1,138 882 1,161 Total selling, general and administrative expenses 73,916 68,990 67,196 Compensation and Employee Benefits Compensation and employee benefits for the year ended December 31, 2018, 2017 and 2016 consist of the following: 2018 2017 2016 (in million pesos) Salaries and other employee benefits 19,777 18,598 17,734 Pension benefit costs (Note 25) 1,855 1,610 1,775 MRP 1,703 1,747 419 Incentive plan (Note 25) 208 827 — Total compensation and employee benefits 23,543 22,782 19,928 Over the past several years, we have been implementing the MRP in line with our continuing efforts to reduce the cost base of our businesses. The decision to implement the MRP was a result of challenges faced by our businesses as significant changes in technology, increasing competition, and shifting market preferences have reshaped the future of our businesses. The MRP is being implemented in compliance with the Labor Code of the Philippines and all other relevant labor laws and regulations in the Philippines. Cost of Sales and Services Cost of sales and services for the years ended Decemeber 31, 2018, 2017 and 2016 consist of the following: 2018 2017 2016 (in million pesos) Cost of computers, mobile handsets and broadband data modems (Note 17) 10,513 10,277 16,053 Cost of services (Note 17) 3,429 2,572 1,540 Cost of point-product-sales (Note 17) 485 784 700 Total cost of sales and services 14,427 13,633 18,293 Asset Impairment Asset impairment for the years ended December 31, 2018, 2017 and 2016 consist of the following: 2018 2017 2016 (in million pesos) Trade and other receivables (Note 16) 4,192 3,438 8,027 Property and equipment (Note 9) 1,958 3,913 — Inventories and supplies (Note 17) 1,528 907 1,941 Contract assets 223 — — Goodwill and intangible assets (Note 14) — — 1,038 Other assets 164 — 36 Total asset impairment 8,065 8,258 11,042 Other Income (Expenses) – Net Other income (expenses) – net for the years ended December 31, 2018, 2017 and 2016 consist of the following: 2018 2017 2016 (in million pesos) Gain on deconsolidation of VIH (Note 2) 12,054 — — Interest income 1,943 1,412 1,046 Gains on derivative financial instruments – net (Note 27) 1,086 533 996 Equity share in net earnings (losses) of associates and joint ventures (Note 10) (87 ) 2,906 1,181 Foreign exchange losses – net (Note 9 ) (771 ) (411 ) (2,785 ) Financing costs (7,067 ) (7,370 ) (7,354 ) Others – net (Notes 10, 11 and 13) 1,884 7,988 4,284 Total other income (expenses) – net 9,042 5,058 (2,632 ) Interest Income Interest income for the years ended December 31, 2018, 2017 and 2016 consist of the following: 2018 2017 2016 (in million pesos) Interest income on financial instruments at amortized cost (Notes 12 and 15) 1,486 — — Interest income arising from revenue contracts with customers 457 — — Interest income on loans and receivables (Notes 15 and 16) — 1,404 980 Interest income on HTM investments (Note 12) — 8 36 Interest income on financial instruments at FVPL — — 30 Total interest income 1,943 1,412 1,046 Financing Costs Financing costs for the years ended December 31, 2018, 2017 and 2016 consist of the following: 2018 2017 2016 (in million pesos) Interest on loans and other related items (Notes 20 and 27) 8,307 7,830 7,522 Accretion on financial liabilities (Note 20) 145 219 230 Financing charges 139 137 168 Capitalized interest (Note 9) (1,524 ) (816 ) (566 ) Total financing costs 7,067 7,370 7,354 |
Components of Other Comprehensi
Components of Other Comprehensive Loss | 12 Months Ended |
Dec. 31, 2018 | |
Text Block1 [Abstract] | |
Components of Other Comprehensive Loss | 6. Components of Other Comprehensive Loss Changes in other comprehensive loss under equity of our consolidated statements of financial position for the years ended December 31, 2018, 2017 and 2016 are as follows: Foreign currency translation differences of subsidiaries Net gains (loss) on available -for-sale financial investments – net of tax Net transactions on cash flow hedges – net of tax Revaluation increment on investment properties – net of tax Actuarial losses on defined benefit plans – net of tax Share in the other comprehensive income of associates and joint ventures accounted for using the equity method Financial instrument at FVOCI Total other comprehensive income (loss) attributable to equity holders of PLDT Share of noncontrolling interests Total other comprehensive income (loss) – net of tax (in million pesos) Balances as at January 1, 2018 583 4,300 (369 ) 620 (24,467 ) 182 — (19,151 ) 14 (19,137 ) Change on initial application of IFRS 9 (Note 2) — (4,309 ) — — — (182 ) (136 ) (4,627 ) — (4,627 ) Balances as at January 1, 2018, as restated 583 (9 ) (369 ) 620 (24,467 ) — (136 ) (23,778 ) 14 (23,764 ) Other comprehensive income (loss) 112 — (271 ) (2 ) (1,222 ) — (29 ) (1,412 ) 5 (1,407 ) Balances as at December 31, 2018 695 (9 ) (640 ) 618 (25,689 ) — (165 ) (25,190 ) 19 (25,171 ) Balances as at January 1, 2017 608 936 7 619 (23,376 ) 312 — (20,894 ) 7 (20,887 ) Other comprehensive income (loss) (25 ) 3,364 (376 ) 1 (1,091 ) 306 — 2,179 7 2,186 Recycled to retained earnings — — — — — (436 ) — (436 ) — (436 ) Balances as at December 31, 2017 583 4,300 (369 ) 620 (24,467 ) 182 — (19,151 ) 14 (19,137 ) Balances as at January 1, 2016 524 76 (3 ) 602 (19,805 ) 404 — (18,202 ) 12 (18,190 ) Other comprehensive income (loss) 84 860 10 17 (3,571 ) 151 — (2,449 ) (5 ) (2,454 ) Recycled to retained earnings — — — — — (243 ) — (243 ) — (243 ) Balances as at December 31, 2016 608 936 7 619 (23,376 ) 312 — (20,894 ) 7 (20,887 ) Revaluation increment on investment properties pertains to the difference between the carrying value and fair value of property and equipment transferred to investment property at the time of change in classification. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2018 | |
Income Taxes [Abstract] | |
Income Taxes | 7. Income Taxes Corporate Income Tax The major components of consolidated net deferred income tax assets and liabilities recognized in our consolidated statements of financial position as at December 31, 2018 and 2017 are as follows: 2018 2017 (in million pesos) Net deferred income tax assets 27,697 30,466 Net deferred income tax liabilities 2,981 3,366 The components of our consolidated net deferred income tax assets and liabilities as at December 31, 2018 and 2017 are as follows: 2018 2017 (in million pesos) Net deferred income tax assets: Unamortized past service pension costs 5,252 5,098 Customer list and trademark 4,670 6,760 Pension and other employee benefits 4,296 3,620 Accumulated provision for expected credit losses/doubtful accounts 3,709 3,102 NOLCO 3,231 243 Fixed asset impairment/depreciation due to shortened life of property and equipment 1,870 5,597 Unearned revenues 1,776 1,778 Provision for other assets 1,595 2,523 Unrealized foreign exchange losses 1,092 746 Accumulated provision for inventory obsolescence and write-down 916 669 MCIT 905 607 Derivative financial instruments (58 ) (30 ) Others (1,557 ) (247 ) Total deferred income tax assets – net 27,697 30,466 Net deferred income tax liabilities: Intangible assets and fair value adjustment on assets acquired – net of amortization 2,175 2,387 Unrealized foreign exchange gains 366 269 Investment property 277 207 Undepreciated capitalized interest charges 7 8 Unamortized fair value adjustment on fixed assets from business combination — 338 Others 156 157 Total deferred income tax liabilities 2,981 3,366 Changes in our consolidated net deferred income tax assets (liabilities) as at December 31, 2018 and 2017 are as follows: 2018 2017 (in million pesos) Net deferred income tax assets – balance at beginning of the year 30,466 27,348 Net deferred income tax liabilities – balance at beginning of the year (3,366 ) (3,567 ) Net balance at beginning of the year 27,100 23,781 Movement charged directly to other comprehensive income 591 507 Excess MCIT deducted against RCIT due (370 ) — Adjustments due to adoption of IFRS 15 (1,166 ) — Benefit from (provision for) deferred income tax (1,375 ) 2,738 Others (64 ) 74 Net balance at end of the year 24,716 27,100 Net deferred income tax assets – balance at end of the year 27,697 30,466 Net deferred income tax liabilities – balance at end of the year (2,981 ) (3,366 ) The analysis of our consolidated net deferred income tax assets as at December 31, 2018 and 2017 are as follows: 2018 2017 (in million pesos) Deferred income tax assets: Deferred income tax assets to be recovered after 12 months 25,163 26,246 Deferred income tax assets to be recovered within 12 months 4,872 5,602 30,035 31,848 Deferred income tax liabilities: Deferred income tax liabilities to be settled after 12 months (1,992 ) (1,206 ) Deferred income tax liabilities to be settled within 12 months (346 ) (176 ) (2,338 ) (1,382 ) Net deferred income tax assets 27,697 30,466 The analysis of our consolidated net deferred income tax liabilities as at December 31, 2018 and 2017 are as follows: 2018 2017 (in million pesos) Deferred income tax liabilities: Deferred income tax liabilities to be settled after 12 months (2,743 ) (3,026 ) Deferred income tax liabilities to be settled within 12 months (238 ) (340 ) Net deferred income tax liabilities (2,981 ) (3,366 ) Provision for income tax for the years ended December 31, 2018, 2017 and 2016 consist of: 2018 2017 2016 (in million pesos) Current 2,467 3,841 6,043 Deferred 1,375 (2,738 ) (4,134 ) 3,842 1,103 1,909 The reconciliation between the provision for income tax at the applicable statutory tax rate and the actual provision for corporate income tax for the years ended December 31, 2018, 2017 and 2016 are as follows: 2018 2017 2016 (in million pesos) Provision for income tax at the applicable statutory tax rate 6,845 4,371 6,621 Tax effects of: Nondeductible expenses 1,235 784 3,239 Equity share in net losses (earnings) of associates and joint ventures 26 (872 ) (354 ) Difference between Optional Standard Deduction, or OSD, and itemized deductions (22 ) (22 ) (20 ) Income subject to final tax (297 ) (2,545 ) (2,879 ) Income subject to lower tax rate (750 ) (520 ) (168 ) Income not subject to income tax (1,827 ) (301 ) (35 ) Net movement in unrecognized deferred income tax assets and other adjustments (1,368 ) 208 (4,495 ) Actual provision for income tax 3,842 1,103 1,909 The breakdown of our consolidated deductible temporary differences, carryforward benefits of unused tax credits from excess of MCIT over RCIT, and NOLCO (excluding those not recognized due to the adoption of the OSD method) for which no deferred income tax assets were recognized and the equivalent amount of unrecognized deferred income tax assets as at December 31, 2018 and 2017 are as follows: 2018 2017 (in million pesos) NOLCO 4,289 7,151 Accumulated provision for doubtful accounts 3,144 3,014 Provisions for other assets 1,881 3,735 Fixed asset impairment 1,148 43 Gain on disposal of asset 106 — Unrealized foreign exchange losses 49 105 MCIT 27 111 Unearned revenues 25 1,314 Pension and other employee benefits 13 1,740 Accumulated write-down of inventories to net realizable values 11 303 Asset retirement obligation — 621 Derivative financial instruments and others — 139 10,693 18,276 Unrecognized deferred income tax assets 3,227 5,561 DMPI recognized deferred income tax assets to the extent that it is probable that sufficient taxable income will be available to allow all or part of the deferred income tax assets to be utilized. Digitel’s unrecognized deferred income tax assets amounted to Php1,421 million as at December 31, 2018, while Digitel and DMPI’s unrecognized deferred income tax assets amounted to Php2,798 million as at December 31, 2017. Our consolidated deferred income tax assets have been recorded to the extent that such consolidated deferred income tax assets are expected to be utilized against sufficient future taxable profit. Deferred income tax assets shown in the preceding table were not recognized as we believe that future taxable profit will not be sufficient to realize these deductible temporary differences and carryforward benefits of unused tax credits from excess of MCIT over RCIT, and NOLCO in the future. The breakdown of our consolidated excess MCIT and NOLCO as at December 31, 2018 are as follows: Date Incurred Expiry Date MCIT NOLCO (in million pesos) December 31, 2016 December 31, 2019 108 1,133 December 31, 2017 December 31, 2020 113 2,203 December 31, 2018 December 31, 2021 711 11,724 932 15,060 Consolidated tax benefits 932 4,518 Consolidated unrecognized deferred income tax assets (27 ) (1,287 ) Consolidated recognized deferred income tax assets 905 3,231 The excess MCIT totaling Php932 million as at December 31, 2018 can be deducted against future RCIT liability. The excess MCIT that was deducted against RCIT amounted to Php488 million, Php15 million and nil for the years ended December 31, 2018, 2017 and 2016, respectively. The amount of expired portion of excess MCIT amounted to Php1 million, Php72 million and Php232 million for the years ended December 31, 2018, 2017 and 2016, respectively. Due to the loss of control of VIH, excess MCIT amounting to Php8 million was derecognized as at December 31, 2018. See Note 2 – Summary of Significant Accounting Policies – External Funding in VIH NOLCO totaling Php15,060 million as at December 31, 2018 can be claimed as deduction against future taxable income. The NOLCO claimed as deduction against taxable income amounted to Php1,094 million, Php4,241 million and Php8,531 million for the years ended December 31, 2018, 2017 and 2016, respectively. The amount of expired NOLCO amounted to Php1,272 million, Php354 million and Php571 million for the years ended December 31, 2018, 2017 and 2016, respectively. Due to the loss of control of VIH, excess NOLCO amounting to Php2,518 million was derecognized as at December 31, 2018. See Note 2 – Summary of Significant Accounting Policies – External Funding in VIH Registration with Subic Bay Freeport Enterprise and Clark Special Economic Zone Enterprise SubicTel and Clarktel are registered with Subic Bay Freeport Enterprise and Clark Special Economic Zone Enterprise, or Economic Zones, respectively, under R.A. 7227 otherwise known as the Bases Conversion and Development Act of 1992. As registrants, SubicTel and ClarkTel are entitled to all the rights, privileges and benefits established thereunder including tax and duty-free importation of capital equipment and a special income tax rate of 5% of gross income, as defined in R.A. 7227. Our consolidated income derived from non-registered activities within the Economic Zones is subject to the RCIT rate at the end of the reporting period. |
Earnings Per Common Share
Earnings Per Common Share | 12 Months Ended |
Dec. 31, 2018 | |
Text Block1 [Abstract] | |
Earnings Per Common Share | 8. Earnings Per Common Share The following table presents information necessary to calculate the EPS for the years ended December 31, 2018, 2017 and 2016: 2018 2017 2016 Basic Diluted Basic Diluted Basic Diluted (in million pesos) Consolidated net income attributable to equity holders of PLDT 18,916 18,916 13,371 13,371 20,006 20,006 Dividends on preferred shares (Note 19) (59 ) (59 ) (59 ) (59 ) (59 ) (59 ) Consolidated net income attributable to common equity holders of PLDT 18,857 18,857 13,312 13,312 19,947 19,947 (in thousands, except per share amounts which are in pesos) Weighted average number of common shares 216,056 216,056 216,056 216,056 216,056 216,056 EPS attributable to common equity holders of PLDT 87.28 87.28 61.61 61.61 92.33 92.33 Basic EPS amounts are calculated by dividing our consolidated net income for the period attributable to common equity holders of PLDT (consolidated net income adjusted for dividends on all series of preferred shares, except for dividends on preferred stock subject to mandatory redemption) by the weighted average number of common shares issued and outstanding during the period. Diluted EPS amounts are calculated in the same manner assuming that, at the beginning of the year or at the time of issuance during the year, all outstanding options are exercised and convertible preferred shares are converted to common shares, and appropriate adjustments to our consolidated net income are effected for the related income and expenses on preferred shares. Outstanding stock options will have a dilutive effect only when the average market price of the underlying common share during the period exceeds the exercise price of the stock option. Convertible preferred shares are deemed dilutive when required dividends declared on each series of convertible preferred shares divided by the number of equivalent common shares, assuming such convertible preferred shares are converted to common shares, decreases the basic EPS. As such, the diluted EPS is calculated by dividing our consolidated net income attributable to common shareholders (consolidated net income, adding back any dividends and/or other charges recognized for the period related to the dilutive convertible preferred shares classified as liability, less dividends on non-dilutive preferred shares except for dividends on preferred stock subject to mandatory redemption) by the weighted average number of common shares excluding the weighted average number of common shares held as treasury shares, and including the common shares equivalent arising from the conversion of the dilutive convertible preferred shares and from the mandatory tender offer for all remaining Digitel shares. Where the effect of the assumed conversion of the preferred shares and the exercise of all outstanding options have an anti-dilutive effect, basic and diluted EPS are stated at the same amount. |
Property and Equipment
Property and Equipment | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Property Plant And Equipment [Abstract] | |
Property and Equipment | 9. Property and Equipment Changes in property and equipment account for the years ended December 31, 2018 and 2017 are as follows: Cable and wire facilities Central office equipment Cellular facilities Buildings and improvements Vehicles, aircraft, furniture and other network equipment Communications satellite Information origination and termination equipment Land and land improvements Property under construction Total (in million pesos) As at December 31, 2016 Cost 196,652 115,461 202,581 25,914 55,973 966 14,596 3,440 50,070 665,653 Accumulated depreciation, impairment and amortization (148,622 ) (96,793 ) (138,189 ) (16,992 ) (48,300 ) (966 ) (12,338 ) (265 ) — (462,465 ) Net book value 48,030 18,668 64,392 8,922 7,673 — 2,258 3,175 50,070 203,188 Year ended December 31, 2017 Net book value at beginning of the year 48,030 18,668 64,392 8,922 7,673 — 2,258 3,175 50,070 203,188 Additions (Note 4) 3,410 687 6,512 159 2,682 — 1,878 1 24,970 40,299 Disposals/Retirements (8 ) — (123 ) (38 ) (316 ) — — — (134 ) (619 ) Reclassifications (Note 13) 5 3 — 3 (7 ) — — 14 (143 ) (125 ) Impairment losses recognized during the year (Note 5) — — (389 ) — — — — — (3,524 ) (3,913 ) Transfers and others 7,612 3,945 8,031 1,285 1,959 — 1,343 3 (24,178 ) — Translation differences charged directly to cumulative translation adjustments — (1 ) — (1 ) (4 ) — — — — (6 ) Depreciation of revaluation increment on investment properties transferred to property and equipment charged to other comprehensive income — — — (2 ) — — — — — (2 ) Depreciation and amortization (11,594 ) (5,340 ) (28,242 ) (1,274 ) (4,106 ) — (1,357 ) (2 ) — (51,915 ) Net book value at end of the year 47,455 17,962 50,181 9,054 7,881 — 4,122 3,191 47,061 186,907 As at December 31, 2017 Cost 207,220 119,642 209,504 27,076 58,964 — 17,595 3,458 50,585 694,044 Accumulated depreciation, impairment and amortization (159,765 ) (101,680 ) (159,323 ) (18,022 ) (51,083 ) — (13,473 ) (267 ) (3,524 ) (507,137 ) Net book value 47,455 17,962 50,181 9,054 7,881 — 4,122 3,191 47,061 186,907 Year ended December 31, 2018 Net book value at beginning of the year 47,455 17,962 50,181 9,054 7,881 — 4,122 3,191 47,061 186,907 Additions (Note 4) 1,278 565 758 120 1,158 — 2,107 — 52,504 58,490 Disposals/Retirements (10 ) (27 ) (60 ) (140 ) (95 ) — — — (9 ) (341 ) Reclassifications (Note 13) 19 (1 ) — 127 (23 ) — — 1,117 — 1,239 Transfers and others 10,409 8,237 37,881 265 1,465 — 1,176 — (59,433 ) — Translation differences charged directly to cumulative translation adjustments — 3 — 1 (3 ) — — — — 1 Deconsolidation of a subsidiary — — (65 ) (794 ) (273 ) — — — — (1,132 ) Impairment losses recognized during the year (Note 5) (299 ) (292 ) (858 ) (480 ) (29 ) — — — — (1,958 ) Depreciation of revaluation increment on investment properties transferred to property and equipment charged to other comprehensive income — — — (2 ) — — — — — (2 ) Depreciation and amortization (11,381 ) (10,480 ) (17,499 ) (2,162 ) (3,382 ) — (2,334 ) (2 ) — (47,240 ) Net book value at end of the year 47,471 15,967 70,338 5,989 6,699 — 5,071 4,306 40,123 195,964 As at December 31, 2018 Cost 217,773 128,321 217,164 26,546 58,711 — 20,823 4,576 40,123 714,037 Accumulated depreciation, impairment and amortization (170,302 ) (112,354 ) (146,826 ) (20,557 ) (52,012 ) — (15,752 ) (270 ) — (518,073 ) Net book value 47,471 15,967 70,338 5,989 6,699 — 5,071 4,306 40,123 195,964 Interest capitalized to property and equipment that qualified as borrowing costs amounted to Php1,524 million, Php816 million and Php566 million for the years ended December 31, 2018, 2017 and 2016, respectively. See Note 5 – Income and Expenses – Financing Costs Our net foreign exchange differences, which qualified as borrowing costs, amounted to Php411 million, Php106 million and Php111 million for the years ended December 31, 2018, 2017 and 2016, respectively. The cost of fully depreciated property and equipment that are still being used in the Group’s operations amounted to Php171,867 million and Php196,612 million as at December 31, 2018 and 2017, respectively. As at December 31, 2018 and 2017, the estimated useful lives of our property and equipment are estimated as follows: Cable and wire facilities 10 – 15 years Central office equipment 3 – 15 years Cellular facilities 3 – 10 years Buildings 25 – 50 years Vehicles, aircraft, furniture and other network equipment 3 – 7 years Information origination and termination equipment 3 – 5 years Leasehold improvements 3 – 5 years or the term of the lease, which ever is shorter Land improvements 10 years Impairment of Certain Wireless Network Equipment and Facilities In December 2017, Smart and DMPI recognized an impairment loss of Php3,913 million pertaining to network improvement project involving spectrum refarm and long-term evolution rollout. These assets include Radio Access Network, or RAN, equipment such as base transceiver sets, base station controllers, access radios, antennas, radio network controllers, power and related support facilities, among others, including software licenses and implementation services affecting the Quezon City and Marikina areas. In 2018, Digitel and DMPI recognized an impairment loss amounting to Php1,096 million and Php862 million, respectively, as a result of the full migration of fixed line subscribers to PLDT network for Digitel and continued network convergence strategy for DMPI. See Note 3 – Management’s Use of Accounting Judgments, Estimates and Assumptions – Impairment of non-financial assets |
Investments in Associates and J
Investments in Associates and Joint Ventures | 12 Months Ended |
Dec. 31, 2018 | |
Investments In Associates And Joint Ventures [Abstract] | |
Investments in Associates and Joint Ventures | 10. Investments in Associates and Joint Ventures As at December 31, 2018 and 2017, this account consists of: 2018 2017 (in million pesos) Carrying value of investments in associates: VIH 10,487 — MediaQuest PDRs 9,262 10,835 Digitel Crossing, Inc., or DCI 591 510 Appcard, Inc. 122 234 Asia Outsourcing Beta Limited, or Beta 36 78 Phunware, Inc., or Phunware — 384 AF Payments, Inc., or AFPI — — ACeS International Limited, or AIL — — Asia Netcom Philippines Corp., or ANPC — — 20,498 12,041 Carrying value of investments in joint ventures: VTI, Bow Arken and Brightshare 32,541 32,550 Multisys 2,388 — Philippines Internet Holding S.à.r.l., or PHIH — 1,539 Beacon — — 34,929 34,089 Total carrying value of investments in associates and joint ventures 55,427 46,130 Changes in the cost of investments for the years ended December 31, 2018 and 2017 are as follows: 2018 2017 (in million pesos) Balance at beginning of the year 51,487 57,465 Additions during the year 13,247 5,633 Disposals (5,230 ) (11,612 ) Translation and other adjustments 15 1 Balance at end of the year 59,519 51,487 Changes in the accumulated impairment losses for the years ended December 31, 2018 and 2017 are as follows: 2018 2017 (in million pesos) Balance at beginning of the year 4,118 1,892 Additional impairment (Note 4) 172 2,223 Translation and other adjustments (1,781 ) 3 Balance at end of the year 2,509 4,118 Changes in the accumulated equity share in net earnings (losses) of associates and joint ventures for the years ended December 31, 2018 and 2017 are as follows: 2018 2017 (in million pesos) Balance at beginning of the year (1,239 ) 1,285 Equity share in net earnings (losses) of associates and joint ventures: (87 ) 2,906 MediaQuest PDRs 90 (27 ) DCI 81 71 AFPI 62 (130 ) VTI, Bow Arken and Brightshare (60 ) 55 VIH (260 ) — Beta — 2,050 Beacon — 886 PHIH — 1 Share in the other comprehensive loss of associates and joint ventures accounted for using the equity method (1 ) (312 ) Disposals (187 ) (9,610 ) Reversal of impairment — 201 Realized portion of deferred gain on the transfer of Beacon and Manila Electric Company, or Meralco, shares — 4,962 Dividends — (791 ) Translation and other adjustments (69 ) 120 Balance at end of the year (1,583 ) (1,239 ) Investments in Associates Investment of PCEV in VIH The gain on deemed disposal resulting in a loss of control and accordingly the deconsolidation of VIH is reported as part of “Other income (expenses)” in our statement of income. The related gain on remeasurement of retained interest in VIH amounted to Php12,054 million. See related discussion on Note 2 – Summary of Significant Accounting Policies – Loss of Control of PCEV over VIH . The summarized financial information of VIH as at and for the year ended December 31, 2018 is shown below: 2018 (in million pesos) Statement of Financial Position: Noncurrent assets 1,318 Current assets 11,152 Noncurrent liabilities 42 Current liabilities 2,926 Equity 9,502 Income Statement: Revenues 136 Depreciation and amortization 19 Interest income 14 Benefit from income tax (1 ) Net loss (535 ) Other comprehensive loss (2 ) Total comprehensive loss (537 ) Equity share in net loss of VIH (262 ) Investment of ePLDT in MediaQuest PDRs In 2012, ePLDT made deposits totaling Php6 billion to MediaQuest, an entity wholly-owned by the PLDT Beneficial Trust Fund, for the issuance of PDRs by MediaQuest in relation to its indirect interest in Cignal TV. Cignal TV is a wholly-owned subsidiary of Satventures, which is a wholly-owned subsidiary of MediaQuest incorporated in the Philippines. The Cignal TV PDRs confer an economic interest in common shares of Cignal TV indirectly owned by MediaQuest, and when issued, will provide ePLDT with a 40% economic interest in Cignal TV. Cignal TV operates a direct-to-home, or DTH, Pay-TV business under the brand name “Cignal TV”, which is the largest DTH Pay-TV operator in the Philippines. In June 2013, ePLDT’s Board of Directors approved additional investments in PDRs of MediaQuest: • a Php3.6 billion investment by ePLDT in PDRs to be issued by MediaQuest in relation to its interest in Satventures. The Satventures PDRs confer an economic interest in common shares of Satventures owned by MediaQuest and provide ePLDT with a 40% economic interest in Satventures; and • a Php1.95 billion investment by ePLDT in PDRs to be issued by MediaQuest in relation to its interest in Hastings, a wholly-owned subsidiary of MediaQuest incorporated in the Philippines. The Hastings PDRs confer an economic interest in common shares of Hastings owned by MediaQuest. Hastings is a wholly-owned subsidiary of MediaQuest and holds all the print-related investments of MediaQuest, including equity interests in the three leading newspapers: The Philippine Star, Philippine Daily Inquirer, and Business World. See Note 25 – Employee Benefits – Unlisted Equity Investments – Investment in MediaQuest The Php6 billion Cignal TV PDRs and Php3.6 billion Satventures PDRs were issued on September 27, 2013. These PDRs provided ePLDT an aggregate of 64% economic interest in Cignal TV. On February 19, 2014, ePLDT’s Board of Directors approved an additional investment of up to Php500 million in Hastings PDRs to be issued by MediaQuest. On March 11, 2014, MediaQuest received from ePLDT an amount aggregating to Php300 million representing additional deposits for future PDRs subscription. As at December 31, 2014, total deposit for PDRs subscription amounted to Php2,250 million. On May 21, 2015, ePLDT’s Board of Directors approved an additional Php800 million investment in Hastings PDRs and settlement of the Php200 million balance of the Php500 million Hastings PDR investment in 2014. Subsequently, on June 1, 2015, the Board of Trustees of the PLDT Beneficial Trust Fund and the Board of Directors of MediaQuest approved the issuance of Php3,250 million Hastings PDRs. This provided ePLDT with 70% economic interest in Hastings. See Note 25 – Employee Benefits – Unlisted Equity Investments – Investment in MediaQuest In 2017, an impairment test was carried out for ePLDT’s investment in MediaQuest PDRs where it showed that an impairment provision must be recognized. In determining the provision, the recoverable amount of the Print business and Pay TV were determined based on VIU calculations. The VIU calculations were derived from cash flow projections over a period of three to five years based on the 2018 financial budgets approved by the Board of Directors and calculated terminal value. Using the detailed projections of Print business for five years and applying a terminal value thereafter, ePLDT calculated a recoverable amount of Php1,664 million. Consequently, ePLDT recognized a provision for impairment of its investment in MediaQuest PDRs in relation to its Print business amounting to Php1,784 million for the year ended December 31, 2017, representing the difference between the recoverable amount and the carrying value of the Print business as at December 31, 2017. No impairment provision was recognized for the Pay TV business. Transfer of Hastings PDRs to PLDT Beneficial Trust Fund On January 22, 2018, ePLDT’s Board of Directors approved the assignment of the Hastings PDRs, representing a 70% economic interest in Hastings to the PLDT Beneficial Trust Fund for a total consideration of Php1,664 million. The assignment was completed on February 15, 2018 and subsequently ePLDT ceased to have any economic interest in Hastings. See Note 25 – Employee Benefits – Unlisted Equity Investments – Investment in MediaQuest The PLDT Group’s financial investment in PDRs of MediaQuest is part of the PLDT Group’s overall strategy of broadening its distribution platforms and increasing the PLDT Group’s ability to deliver multimedia content to its customers across the PLDT Group’s broadband and mobile networks. ePLDT’s aggregate value of investment in MediaQuest PDRs amounted to Php9,262 million as at December 31, 2018 and Php10,835 million, net of allowance for impairment of Php1,784 million as at December 31, 2017. See Note 3 – Management’s Use of Accounting Judgments, Estimates and Assumptions – Accounting for investment in MediaQuest through PDRs The table below presents the summarized financial information of Satventures as at December 31, 2018 and 2017, and for the years ended December 31, 2018, 2017 and 2016: 2018 2017 (in million pesos) Statements of Financial Position: Noncurrent assets 20,712 20,055 Current assets 2,606 2,820 Noncurrent liabilities 3,297 3,292 Current liabilities 5,549 5,253 Equity 14,472 14,330 Carrying amount of interest in Satventures 9,262 9,171 Additional Information: Cash and cash equivalents 611 1,211 Current financial liabilities* 487 397 Noncurrent financial liabilities* 2,239 2,097 * 2018 2017 2016 (in million pesos) Income Statements: Revenues 7,339 6,650 5,925 Depreciation and amortization 936 772 1,217 Interest income 8 3 2 Interest expense 274 249 259 Provision for (benefit from) income tax 112 71 (69 ) Net income (loss) 142 4 (344 ) Other comprehensive income — — — Total comprehensive income (loss) 142 4 (344 ) Equity share in net income (loss) of Satventures 90 3 (220 ) The table below presents the summarized financial information of Hastings as at December 31, 2017 and for the years ended December 31, 2017 and 2016: 2017 (in million pesos) Statements of Financial Position: Noncurrent assets 1,803 Current assets 2,360 Noncurrent liabilities 151 Current liabilities 336 Equity 3,676 Carrying amount of interest in Hastings 1,664 Additional Information: Cash and cash equivalents 1,304 Current financial liabilities* — Noncurrent financial liabilities* — * 2017 2016 (in million pesos) Income Statements: Revenues 2,129 2,394 Depreciation and amortization 153 153 Interest income 12 18 Interest expense 19 19 Provision for income tax 22 70 Net income (loss) (43 ) 169 Other comprehensive income — — Total comprehensive income (loss) (43 ) 169 Equity share in net income (loss) of Hastings (30 ) 118 Investment of Digitel in DCI and ANPC Digitel has 60% and 40% interest in ANPC and DCI, respectively. DCI is involved in the business of cable system linking the Philippines, United States and other neighboring countries in Asia. ANPC is an investment holding company owning 20% of DCI. In December 2000, Digitel, Pacnet Network (Philippines), Inc., or PNPI, (formerly Asia Global Crossing Ltd.) and BT Group O/B Broadband Infrastructure Group Ltd., or BIG, entered into a joint venture agreement, or JVA, under which the parties agreed to form DCI with each party owning 40%, 40% and 20%, respectively. DCI was incorporated to develop, provide and market backhaul network services, among others. On April 19, 2001, after BIG withdrew from the proposed joint venture, Digitel and PNPI formed ANPC to replace BIG. Digitel contributed US$2 million, or Php69 million, for a 60% equity interest in ANPC while PNPI owned the remaining 40% equity interest. Digitel provided full impairment loss on its investment in DCI and ANPC in prior years on the basis that DCI and ANPC have incurred significant recurring losses in the past. In 2011 and 2017, Digitel recorded a reversal of impairment loss amounting to Php92 million and Php201 million, respectively, following improvement in DCI’s operations. Though Digitel owns more than half of the voting interest in ANPC, management has assessed that Digitel only has significant influence, and not control, due to certain governance matters. Digitel’s investment in DCI does not qualify as investment in joint venture as there is no provision for joint control in the JVA among Digitel, PNPI and ANPC. Following PLDT’s acquisition of a controlling stake in Digitel, PNPI, on November 4, 2011, sent a notice to exercise its Call Right under Section 6.3 of the JVA, which provides for a Call Right exercisable by PNPI following the occurrence of a Digitel change in control. As at March 20, 2019, Digitel management is ready to conclude the transfer of its investment in DCI, subject to PNPI’s ability to meet certain regulatory and valuation requirements. This investment is not classified as noncurrent asset held-for-sale as the transfer is assessed as not highly probable because certain aspects of the sale such as pricing are still subject for approval by both Digitel and PNPI management. Investment of PGIC in Beta On February 5, 2013, PLDT entered into a Subscription and Shareholders’ Agreement with Asia Outsourcing Alpha Limited, or Alpha, wherein PLDT, through its indirect subsidiary PGIC, acquired from Alpha approximately 20% equity interest in Beta for a total cost of approximately US$40 million, which consists of preferred shares of US$39.8 million and ordinary shares of US$0.2 million. On various dates in 2013 and 2014, PGIC has bought and transferred-in a net in total of 27 ordinary shares and 9,643 preferred shares to certain employees of Beta for a total net payment of US$81 thousand. In 2014, Beta has divested its healthcare BPO business. PGIC received a total cash distribution of US$41.8 million from Beta through redemption of 35.3 million preferred shares and repayment of loan from PGIC. The equity interest of PGIC in Beta remained at 20% after the transfer with economic interest of 18.32%. Alpha and Beta are both exempted limited liability companies incorporated under the laws of Cayman Islands and are both controlled by CVC Capital Partners. Beta has been designated to be the ultimate holding company of the SPi Technologies, Inc. and Subsidiaries. On July 22, 2016, Asia Outsourcing Gamma Limited, or AOGL, entered into a SPA with Relia, Inc., one of the largest BPO companies in Japan, relating to the acquisition of AOGL’s Customer Relationship Management, or CRM, business under the legal entity SPi CRM, Inc. and Infocom Technologies, Inc., wholly-owned subsidiaries of SPi Technologies, Inc., for a total purchase consideration of US$180.9 million. AOGL is a wholly-owned subsidiary of Beta and the direct holding company of SPi Technologies, Inc. and Subsidiaries. The transaction was completed on September 30, 2016. As a result of the sale, PGIC received a cash distribution of US$11.2 million from Beta through redemption of its preferred shares and portion of its ordinary shares. On May 19, 2017, AOGL entered into a SPA with Partners Group, a global private markets investment manager, relating to the acquisition of SPi Global, a wholly-owned subsidiary of AOGL, for an enterprise value of US$330 million. The transaction was completed on August 25, 2017. As a result of the sale, PGIC received a total cash distribution of US$57.05 million from Beta on various dates in 2017 and 2018 through redemption of a portion of its ordinary shares. The carrying value of investment in common shares in Beta amounted to Php36 million and Php78 million as at December 31, 2018 and 2017, respectively. The economic interests of PGIC in Beta remained at 18.32% as at December 31, 2018 and 2017. PGIC is a wholly-owned subsidiary of PLDT Global, which was incorporated under the laws of British Virgin Islands. Investment of PLDT Capital in Phunware See related discussion on Note 11 – Financial Assets at FVPL/Available-for-Sale Financial Investments – Investment of PLDT Capital in Phunware Investment of Smart in AFPI In 2013, Smart, along with other conglomerates MPIC and Ayala Corporation, or Ayala, embarked on a venture to bid for the Automated Fare Collection System, or AFCS, a project of the Department of Transportation and Communications, or DOTC, and Light Rail Transit Authority, to upgrade the Light Rail Transit 1 and 2, and Metro Rail Transit ticketing systems. In 2014, AFPI, the joint venture company, was incorporated in the Philippines and registered with the Philippine SEC. Smart subscribed to Php503 million equivalent to 503 million shares at a subscription price of Php1.00 per share representing 20% equity interest. MPIC and Ayala Group signed a ten-year concession agreement with the DOTC to build and implement the AFCS project. Smart made the following investments in AFPI: Date Transaction Number of Shares Subscribed Actual Capital Infusion (Php) (in millions) (in millions) 2014 Smart subscription to AFPI Common Shares 503.2 AFPI Common Shares 300 2015 Smart subscription to AFPI Common Shares 122.5 AFPI Common Shares 160 2016 Capital infusion on unpaid subscription — 130 2017 Smart subscription to AFPI Preferred Shares 100.0 AFPI Preferred Shares 100 2018 Smart subscription to AFPI Preferred Shares 60.0 AFPI Preferred Shares 60 In June 2017, Smart recognized Php439 million impairment representing the carrying value of investment in AFPI as at June 30, 2017. Consequently, Smart discontinued recognizing its equity share in net losses of AFPI. In March 2018, Smart recognized additional impairment of Php60 million, representing the capital infusion made during the year. Unrecognized share in net losses of AFPI amounted to Php122 million for the year ended December 31, 2018. Accumulated share in net losses amounting to Php183 million and Php61 million as at December 31, 2018 and 2017, respectively, were not recognized as the Company does not have any legal or constructive obligation to pay for such losses and have not made any payments on behalf of AFPI. Investment of ACeS Philippines in AIL As at December 31, 2018, ACeS Philippines held a 36.99% equity interest in AIL, a company incorporated under the laws of Bermuda. AIL owns the Garuda I Satellite and the related system control equipment in Batam, Indonesia. In December 2014, AIL suffered a failure of the propulsion system on board the Garuda I Satellite, thus, AIL decided to decommission the operation of Garuda I Satellite in January 2015. AIL has incurred significant operating losses, negative operating cash flows, and significant levels of debt. The financial condition of AIL was partly due to the National Service Providers’, or NSPs, inability to generate the amount of revenues originally expected as the growth in subscriber numbers has been significantly lower than budgeted. These factors raised substantial doubt about AIL’s ability to continue as a going concern. On this basis, we recognized a full impairment provision of Php1,896 million in respect of our investment in AIL in 2003. Share in net cumulative losses were not recognized as we do not have any legal or constructive obligation to pay for such losses and have not made any payments on behalf of AIL. Summarized financial information of individually immaterial associates The following tables present the summarized financial information of our individually immaterial investments in associates for the years ended December 31, 2018, 2017 and 2016: 2018 2017 2016 (in million pesos) Income Statements: Revenues 104 107 1,960 Net income (loss) (80 ) 59 526 Other comprehensive loss — (1 ) — Total comprehensive income (loss) (80 ) 58 526 We did not receive any dividends from our associates for the years ended December 31, 2018, 2017 and 2016. We have no outstanding contingent liabilities or capital commitments with our associates as at December 31, 2018 and 2017. Investments in Joint Ventures Investments of PLDT in VTI, Bow Arken and Brightshare On May 30, 2016, the PLDT Board approved the Company’s acquisition of 50% equity interest, including outstanding advances and assumed liabilities, in the telecommunications business of San Miguel Corporation, or SMC, with Globe acquiring the other 50% interest. On the same date, PLDT and Globe executed: (i) an SPA with SMC to acquire the entire outstanding capital, including outstanding advances and assumed liabilities, in VTI (and the other subsidiaries of VTI), which holds SMC’s telecommunications assets through its subsidiaries, or the VTI Transaction; and (ii) separate SPAs with the owners of two other entities, Bow Arken (the parent company of New Century Telecoms, Inc.) and Brightshare (the parent company of eTelco, Inc.), which separately hold additional spectrum frequencies through their respective subsidiaries, or the Bow Arken Transaction and Brightshare Transaction, respectively. We refer to the VTI Transaction, Bow Arken Transaction and Brightshare Transaction collectively as the SMC Transactions. The consideration in the amount of Php52.8 billion representing the purchase price for the equity interest and assigned advances of previous owners to VTI, Bow Arken and Brightshare was paid in three tranches: 50% upon signing of the SPAs on May 30, 2016, 25% on December 1, 2016 and the final 25% on May 30, 2017. The SPAs also provide that PLDT and Globe, through VTI, Bow Arken and Brightshare, would assume liabilities amounting to Php17.2 billion from May 30, 2016. In addition, the SPAs contain a price adjustment mechanism based on the variance in these assumed liabilities to be agreed among PLDT, Globe and previous owners on the results of the confirmatory due diligence procedures jointly performed by PLDT and Globe. On May 29, 2017, PLDT and Globe paid the previous owners the net amount of Php2.6 billion in relation to the aforementioned price adjustment based on the result of the confirmatory due diligence. See Note 27 – Financial Assets and Liabilities – Commercial Commitments As part of the SMC Transactions, PLDT and Globe acquired certain outstanding advances made by the former owners of VTI, Bow Arken and Brightshare to VTI, Bow Arken and Brightshare or their respective subsidiaries. The amounts of the advances outstanding to PLDT since the date of assignment to PLDT amounted to Php11,359 million: (i) Php11,038 million from VTI and its subsidiaries; (ii) Php238 million from Bow Arken and its subsidiaries; and (iii) Php83 million from Brightshare and its subsidiaries. On February 28, 2017, PLDT and Globe each subscribed to 2.8 million new preferred shares to be issued out of the unissued portion of the existing authorized capital stock of VTI, at a subscription price of Php4 thousand per subscribed share (inclusive of a premium over par of Php3 thousand per subscribed share) or a total subscription price for each of Php11,040 million (inclusive of a premium over par of Php8,280 million). PLDT and Globe’s assigned advances from SMC which were subsequently reclassified to deposit for future subscription of each amounting to Php11,040 million were applied as full subscription payment for the subscribed shares. Also, on the same date, PLDT and Globe each subscribed to 800 thousand new preferred shares of the authorized capital stock of VTI, at a subscription price of Php4 thousand per subscribed share (inclusive of a premium over par of Php3 thousand per subscribed share), or a total subscription price for each Php3,200 million (inclusive of a premium over par of Php2,400 million). PLDT and Globe each paid Php148 million in cash for the subscribed shares. The remaining balance of the subscription price of PLDT and Globe were fully paid as at December 29, 2017. On December 15, 2017, PLDT and Globe each subscribed to 600 thousand new preferred shares of the authorized capital stock of VTI, at a subscription price of Php5 thousand per subscribed share (inclusive of a premium over par of Php4 thousand per subscribed share), for a total subscription price of Php3,000 million (inclusive of a premium over par of Php2,400 million). PLDT and Globe each paid Php10 million in cash for the subscribed shares upon execution of the agreement. The remaining balance of the subscription price was paid via conversion of advances amounting to Php2,990 million as at December 31, 2017. As at December 31, 2018 and 2017, the amount of the advances outstanding to PLDT, to cover for the assumed liabilities and working capital requirements of the acquired companies, amounted to Php51 million and nil, respectively. Purchase Price Allocation PLDT has engaged an independent valuer to determine the fair value adjustments relating to the acquisition. As at May 30, 2016, our share in the fair value of the intangible assets, which includes spectrum, amounted to Php18,885 million and goodwill of Php17,824 million has been determined based on the final results of an independent valuation. Goodwill arising from this acquisition and carrying amount of the identifiable assets and liabilities, including deferred tax liability, and the related amortization through equity in net earnings were retrospectively adjusted accordingly. The table below presents the summarized financial information of VTI, Bow Arken and Brightshare as at December 31, 2018 and 2017, and for the years ended December 31, 2018, 2017 and 2016: 2018 2017 (in million pesos) Statements of Financial Position: Noncurrent assets 77,261 77,694 Current assets 3,070 2,807 Noncurrent liabilities 11,193 11,373 Current liabilities 2,678 1,936 Equity 66,460 67,192 Carrying amount of interest in VTI, Bow Arken and Brightshare 32,541 32,550 Additional Information: Cash and cash equivalents 2,191 1,961 Current financial liabilities* 607 — Noncurrent financial liabilities* — — * 2018 2017 2016 (in million pesos) Income Statements: Revenues 2,505 2,532 1,189 Depreciation and amortization 1,171 1,168 842 Interest income 43 28 18 Provision for (benefit from) income tax 113 (42 ) 158 Net income (loss) (120 ) 110 (2,055 ) Other comprehensive income — — — Total comprehensive income (loss) (120 ) 110 (2,055 ) Equity share in net income (loss) of VTI, Bow Arken and Brightshare (60 ) 55 (1,027 ) Notice of Transaction filed with the Philippine Competition Commission, or PCC On May 30, 2016, prior to closing the transaction, each of PLDT, Globe and SMC submitted notices of the VTI, Bow Arken and Brightshare Transaction (respectively, the VTI Notice, the Bow Arken Notice and the Brightshare Notice and collectively, the Notices) to the PCC pursuant to the Philippine Competition Act, or PCA, and Circular No. 16-001 and Circular No. 16-002 issued by the PCC, or the Circulars. As stated in the Circulars, upon receipt by the PCC of the requisite notices, each of the said transactions shall be deemed approved in accordance with the Circulars. Subsequently, on June 7, 2016, PLDT and the other parties to the said transactions received separate letters dated June 6 and 7, 2016 from the PCC which essentially stated, that: (a) with respect to VTI Transaction, the VTI Notice is deficient and defective in form and substance, therefore, the VTI Transaction is not “deemed approved” by the PCC, and that the missing key terms of the transaction are critical since the PCC considers certain agreements as prohibited and illegal; and (b) with respect to the Bow Arken and Brightshare Transactions, the compulsory notification under the Circulars does not apply and that even assuming the Circulars apply, the Bow Arken Notice and the Brightshare Notice are deficient and defective in form and substance. On June 10, 2016, PLDT submitted its response to the PCC’s letter articulating its position that the VTI Notice is adequate, complete and sufficient and compliant with the requirement under the Circulars, and does not contain false material information; as such, the VTI Transaction enjoys the benefit of Section 23 of the PCA. Therefore, the VTI Transaction is deemed approved and cannot be subject to retroactive review by the PCC. Moreover, the parties have taken all necessary steps, including the relinquishment/return of certain frequencies and co-use of the remaining frequencies by Smart and Belltel and Globe and Belltel as discussed above, to ensure that the VTI Transaction will not substantially prevent, restrict or lessen competition to violate the PCA. Nevertheless, in the spirit of cooperation and for transparency, the parties voluntarily submitted to the PCC, among others, copies of the SPAs for the PCC’s information and reference. In a letter dated June 17, 2016, the PCC required the parties to further submit additional documents relevant to the co-use arrangement and the frequencies subject thereto, as well as other definitive agreements relating to the VTI Transaction. It also disregarded the deemed approved status of the VTI Transaction in violation of the Circulars which the PCC itself issued, and insisted that it will conduct a full review, if not investigation of the said transaction under the different operative provisions of the PCA. In the Matter of the Petition against the PCC On July 12, 2016, PLDT filed before the Court of Appeals, or CA, a Petition for Certiorari and Prohibition (With Urgent Application for the Issuance of a Temporary Restraining Order, or TRO, and/or Writ of Preliminary Injunction), or the Petition, against the PCC. The Petition seeks to enjoin the PCC from proceeding with the review of the acquisition by PLDT and Globe of equity interest, including outstanding advances and assumed liabilities, in the telecommunications business of SMC and performing any act which challenges or assails the “deemed approved” status of the SMC Transactions. On July 19, 2016, the 12 th On August 26, 2016, the CA issued a Writ of Preliminary Injunction enjoining and directing the respondent PCC, their officials and agents, or persons acting for and in their behalf, to cease and desist from conducting further proceedings for the pre-acquisition review and/or investigation of the SMC Transactions based on its Letters dated June 7, 2016 and June 17, 2016 during the pendency of the case and until further orders are issued by the CA. On September 14, 2016, the PCC filed a Motion for Reconsideration of the CA’s Resolution. During this time, Globe moved to have its Petition consolidated with the PLDT Petition. In a Resolution promulgated on October 19, 2016, the CA: (i) accepted the consolidation of Globe’s petition versus the PCC (CA G.R. SP No. 146538) into PLDT’s petition versus the PCC (CA G.R. SP No. 146528) with the right of replacement; (ii) admitted the Comment dated October 4, 2016 filed by the PCC; (iii) referred to the PCC for Comment (within 10 days from receipt of notice) PLDT’s Urgent Motion for the Issuance of a Gag Order dated September 30, 2016 and to cite the PCC for indirect contempt; and (iv) ordered all parties to submit simultaneous memoranda within a non-extendible period of 15 days from notice. On November 11, 2016, PLDT filed its Memorandum in compliance with the CA’s Resolution. On February 17, 2017, the CA issued a Resolution denying PCC’s Motion for Reconsideration dated September 14, 2016, for lack of merit. The CA denied PLDT’s Motion to Cite the PCC for indirect Contempt for being premature. In the same Resolution, as well as in a separate Gag Order attached to the Resolution, the CA granted PLDT’s Urgent Motion for the Issuance of a Gag Order and directed PCC to remove immediately from its website its preliminary statement of concern and submit its compliance within five days from receipt thereof. All the parties were ordered to refrain, cease and desist from issuing public comments and statements that would violate the sub judice rule and subject them to indirect contempt of court. The parties were also required to comment within ten days from receipt of the Resolution, on the Motion for Leave to Intervene and to Admit the Petition-in-Intervention dated February 7, 2017 filed by Citizenwatch, a non-stock and non-profit association. On April 18, 2017, the PCC filed before the Supreme Court a Petition to Annul the Writ of Preliminary Injunction issued by the CA’s 12 th During the intervening period, the CA rendered its Decision in October 18, 2017, granting the Petitions filed by PLDT and Globe. In its Decision, the CA: (i) permanently enjoined the PCC from conducting further proceedings for the pre-acquisition review and/or investigation of the SMC Transactions based on its Letters dated June 7, 2016 and June 17, 2016; (ii) annulled and set aside the Letters dated June 7, 2016 and June 17, 2016; (iii) precluded the PCC from conducting a full review and/or investigation of the SMC Transactions; On November 7, 2017, PCC timely filed a Motion for Additional Time to file a Petition for Review on Certiorari before the Supreme Court. The Supreme Court granted PCC’s motion in its Resolution dated November 28, 2017. On December 13, 2017, PLDT, through counsel, received the PCC’s Petition for Review on Certiorari filed before the Supreme Court assailing the CA’s Decision dated October 18, 2017. In this Petition, the PCC raised procedural and substantive issues for resolution. Particularly, the PCC assailed the issuance of the writs of certiorari, prohibition, and mandamus considering that the determination of the sufficiency of the Notice pursuant to the Transitory Rules involves the exercise of administrative and discretionary prerogatives of t |
Financial Assets at FVPL_Availa
Financial Assets at FVPL/Available-for-Sale Financial Investments | 12 Months Ended |
Dec. 31, 2018 | |
Availableforsale Financial Assets [Abstract] | |
Financial Assets at FVPL/Available-for-Sale Financial Investments | 11. Financial Assets at FVPL/Available-for-Sale Financial Investments As at December 31, 2018 and 2017, this account consists of: 2018 2017 Financial assets at FVPL Available-for- sale financial investments (in million pesos) Rocket Internet 3,128 12,848 iflix Limited, or iflix 844 1,841 Phunware, Inc., or Phunware 497 — Club shares and others 294 239 Matrixx — 237 4,763 15,165 Investment of PLDT Online in Rocket Internet On August 7, 2014, PLDT and Rocket Internet entered into a global strategic partnership to drive the development of online and mobile payment solutions in emerging markets. Rocket Internet provides a platform for the rapid creation and scaling of consumer internet businesses outside the U.S. and China. Rocket Internet’s prominent brands include the leading Southeast Asian e-Commerce businesses Zalora and Lazada, as well as fast growing brands with strong positions in their markets such as Dafiti, Linio, Jumia, Namshi, Lamoda, Jabong, Westwing, Home24 and HelloFresh in Latin America, Africa, Middle East, Russia, India and Europe. Financial technology and payments comprise Rocket Internet’s third sector where it anticipates numerous and significant growth opportunities. Pursuant to the terms of the investment agreement, PLDT invested €333 million, or Php19,577 million, in cash, for new shares equivalent to a 10% stake in Rocket Internet as at August 2014. These new shares are of the same class and bear the same rights as the Rocket Internet shares held by the investors as at the date of the agreement namely, Investment AB Kinnevik and Access Industries, in addition to Global Founders GmbH (formerly European Founders Fund GmbH). PLDT made the €333 million investment in two payments (on September 8 and September 15, 2014), which it funded from available cash and new debt. On August 21, 2014, PLDT assigned all its rights, title and interests as well as all of its obligations related to its investment in Rocket Internet, to PLDT Online, an indirectly wholly-owned subsidiary of PLDT. On October 1, 2014, Rocket Internet announced the pricing of its initial public offering, or IPO, at €42.50 per share. On October 2, 2014, Rocket Internet listed its shares on Entry Standard of the Frankfurt Stock Exchange under the ticker symbol “RKET.” Our ownership stake in Rocket Internet after the IPO was reduced to 6.6%. In February 2015, due to additional issuances of shares by Rocket Internet, our ownership percentage in Rocket Internet was further reduced to 6.1%, and remained as such as at December 31, 2017. On September 26, 2016, Rocket Internet applied for admission to trading under the regulated market (Prime Standard) of the Frankfurt Stock Exchange. RKET has been admitted to the Prime Standard and is part of the Frankfurt Stock Exchange’s SDAX. On April 16, 2018, Rocket Internet announced the buyback of up to 15 million shares through a public share purchase offer, or the Offer, against payment of an offer price in the amount of €24 per share. PLDT Online committed to accept the Offer of Rocket Internet for at least 7 million shares, or approximately 67.4% of the total number of shares directly held by PLDT Online. On May 4, 2018, Rocket Internet accepted the tender of PLDT Online of 7 million shares and paid the total consideration of €163 million, or Php10,059 million, which was settled on May 9, 2018, reducing the equity ownership in Rocket Internet from 6.1% to 2.0%. On May 23, 2018, Rocket Internet redeemed 10.8 million shares reducing its share capital to €154 million. As a result of the redemption of shares, PLDT Online’s equity ownership in Rocket Internet increased from 2.0% to 2.1%. On various dates in the third quarter of 2018, PLDT Online sold 0.7 million Rocket Internet shares for an aggregate amount of €22 million, or Php1,346 million, reducing equity ownership in Rocket Internet from 2.1% to 1.7%. Further details on investment in Rocket Internet for the years ended December 31, 2018, 2017 and 2016, and as at December 31, 2018 and 2017 are as follows: 2018 2017 2016 Total market value as at beginning of the year (in million pesos) 12,848 10,058 14,587 Closing price per share at end of the year (in Euros) 20.18 21.13 19.13 Total market value as at end of the year (in million Euros) 52 213 193 Total market value as at end of the year (in million pesos) 3,128 12,848 10,058 Total cost of sold shares (in million pesos) 9,563 — — Net gains (losses) recognized during the year (in million pesos) (157 ) 2,790 (4,529 ) Recognized in profit or loss (in million pesos) (157 ) (540 ) (5,381 ) Recognized in other comprehensive loss (in million pesos) — 3,330 852 2018 2017 Financial assets at FVPL Available-for- sale Financial Investments (in million pesos) Balance at beginning of the year 12,848 10,058 Fair value adjustment in profit or loss (157 ) — Disposal of investments (9,563 ) — Impairment loss — (540 ) Fair value adjustment in other comprehensive income — 3,330 Balance at end of the year 3,128 12,848 Based on our judgment, the decline in fair value of our investment in Rocket Internet was considered significant as the cumulative net losses from changes in fair value represented more than 20% decline in value below cost. As a result, total cumulative impairment losses recognized on our investment in Rocket Internet amounted to Php11,045 million as at December 31, 2017. Impairment losses charged in our consolidated income statements amounted to Php540 million and Php5,381 million for the years ended December 31, 2017 and 2016, respectively. Starting January 1, 2018, PLDT Group adopted the new classification of financial assets - equity instruments in accordance with IFRS 9. Equity instruments previously classified as available-for-sale financial investments in IAS 39 will now be classified and measured at FVPL. As a result, total cumulative valuation loss on our investment in Rocket Internet recognized in our consolidated income statements amounted to Php157 million as at December 31, 2018. See Note 3 – Management’s Use of Accounting Judgments, Estimates and Assumptions – Impairment of available-for-sale equity investments. As at March 20, 2019, closing price of Rocket Internet is €22.90. Investment of PLDT Online in iflix On April 23, 2015, PLDT Online subscribed to a convertible note of iflix, an internet TV service provider in Southeast Asia, for US$15 million, or Php686 million. The convertible note was issued and paid on August 11, 2015. iflix will use the funds to continue roll out of the iflix subscription video-on-demand services across the Southeast Asian region, acquire rights to new content, and produce original programming to market to potential customers. This investment is in line with our strategy to develop new revenue streams and to complement our present business by participating in the digital world beyond providing access and connectivity. On March 10, 2016, the US$15 million convertible note held by PLDT Online was converted into 20.7 million ordinary shares of iflix in connection with a new funding round led by Sky Plc, Europe’s leading entertainment company, and the Indonesian company, Emtek Group. The conversion resulted on a valuation gain amounting to U$19 million, or Php898 million, increasing the fair value of PLDT Online’s investment amounting to US$34 million, or Php1,584 million. On August 4, 2017, PLDT Online subscribed to a convertible note of iflix for US$1.5 million, or Php75 million, in a new funding round led by Hearst Entertainment. The convertible note was paid on August 8, 2017. The note is zero coupon, senior and unsubordinated, non-redeemable, transferable and convertible into Series B Preferred Shares subject to occurrence of a conversion event. iflix will use the funds to invest in its local content strategy and for its regional and international expansion. On December 15, 2018, the US$1.5 million convertible note held by PLDT Online was converted into 1.0 million Series B Preferred Shares of iflix upon the occurrence of the cut-off date. After the conversion of all outstanding convertible notes, PLDT Online’s equity ownership in iflix was reduced from 7.3% to 5.3%. The fair value of PLDT Online’s investment amounted to Php844 million and Php1,841 million as at December 31, 2018 and 2017, respectively. Investment of PLDT Capital in Phunware On September 3, 2015, PLDT Capital subscribed to an 8% US$5 million Convertible Promissory Note, or Note, issued by Phunware, a Delaware corporation. Phunware provides an expansive mobile delivery platform that creates, markets, and monetizes mobile application experiences across multiple screens. The US$5 million Note was issued to and paid for by PLDT Capital on September 4, 2015. On December 18, 2015, PLDT Capital subscribed to Series F Preferred Shares of Phunware for a total consideration of US$3 million. On the same date, the Note and its related interest were converted to additional Phunware Series F Preferred Shares. On February 27, 2018, Phunware entered into a definitive Agreement and Plan of Merger, or Merger Agreement, with Stellar Acquisition III, Inc., or Stellar, relating to a business combination transaction for an enterprise value of US$301 million, on a cash-free, debt-free basis. Pursuant to the Merger Agreement, the holders of Phunware common stock will be entitled to the right to receive the applicable portion of the merger consideration in the form of Stellar common shares, which are listed on the Nasdaq Stock Market. As a result, the holders of Phunware preferred stock have requested the automatic conversion of all outstanding preferred shares into common shares effective as of immediately prior to the closing of the transaction on a conversion ratio of one common share per one preferred share. In addition to the right to receive Stellar common shares, each holder of Phunware Stock is entitled to elect to receive its pro rata share of warrants to purchase Stellar common shares that are held by the affiliate companies of Stellar’s co-Chief Executive Officers, or Stellar’s Sponsors. On November 28, 2018, PLDT Capital elected to receive its full pro rata share of the warrants to purchase Stellar common shares held by Stellar’s Sponsors. On December 26, 2018, Phunware announced the consummation of its business combination with Stellar. Stellar, the new Phunware holding company, changed its corporate name to “Phunware, Inc.,” or “PHUN, and Phunware changed its corporate name to “Phunware OpCo, Inc..” Upon closing, PLDT Capital received the PHUN common shares equivalent to its portion of the merger consideration and its full pro rata share of warrants to purchase PHUN common shares. The fair value amount of PLDT Capital’s investment amounted to Php497 million as at December 31, 2018. Investment of PLDT Capital in Matrixx On December 18, 2015, PLDT Capital entered into a Stock and Warrant Purchase Agreement with Matrixx, a Delaware corporation. Matrixx provides the IT foundation to move to an all-digital service environment with a new real-time technology platform designed to handle the surge in interactions without forcing the compromises of conventional technology. Under the terms of the agreement, PLDT Capital subscribed to convertible Series B Preferred Stock of Matrixx for a total consideration of US$5 million, or Php237 million, and was entitled to purchase additional Series B Preferred Stock upon occurrence of certain conditions on or before March 15, 2016. PLDT Capital did not exercise its right to purchase additional Series B Preferred Stock of Matrixx. On December 20, 2018, Matrixx entered into a Repurchase Agreement with PLDT Capital to repurchase all of its capital stock held by PLDT Capital including a warrant to purchase capital stock for US$5 million. The transaction closed on the same day. |
Investment in Debt Securities a
Investment in Debt Securities and Other Long-term Investments | 12 Months Ended |
Dec. 31, 2018 | |
Text Block1 [Abstract] | |
Investment in Debt Securities and Other Long-term Investments | 12. Debt Instruments at Amortized Cost/Investment in Debt Securities and Other Long-term Investments As at December 31, 2018 and 2017, this account consists of: 2018 2017 Debt instruments at amortized cost Investment in debt securities and other long- term investments (in million pesos) GT Capital Bond 150 150 Security Bank Corporation, or Security Bank, Time Deposits — 100 150 250 Less current portion (Note 27) — 100 Noncurrent portion (Note 27) 150 150 GT Capital Bond In February 2013, Smart purchased at par a seven-year GT Capital Bond with face value of Php150 million maturing on February 27, 2020. The bond has a gross coupon rate of 4.84% payable on a quarterly basis, and was recognized as HTM investment. Starting January 1, 2018, the bond was classified as debt instrument at amortized cost under IFRS 9. Interest income, net of withholding tax, recognized on this investment amounted to Php5.8 million each for the years ended December 31, 2018, 2017 and 2016. The carrying value of this investment amounted to Php150 million each as at December 31, 2018 and 2017. Security Bank Time Deposits In October 2012, PLDT and Smart invested US$2.5 million each in a five-year time deposit with Security Bank at a gross coupon rate of 4.00%, which matured on October 11, 2017. Interest income, net of withholding tax, recognized on this investment amounted to US$146 thousand, or Php7 million, and US$188 thousand, or Php8.9 million, for the years ended December 30, 2017 and 2016, respectively. In May 2013, PLDT invested US$2.0 million in a five-year time deposit with Security Bank at a gross coupon rate of 3.5%, which matured on May 31, 2018. Interest income, net of withholding tax, recognized on this investment amounted to US$25 thousand, or Php1.3 million, US$66 thousand, or Php3.3 million, and US$66 thousand, or Php3.1 million, for the years ended December 31, 2018, 2017 and 2016, respectively. The carrying value of this investment amounted to nil and Php100 million as at December 31, 2018 and 2017, respectively. PSALM Bonds In April 2013, Smart purchased, at a premium, PSALM Bonds with face value of Php200 million with yield-to-maturity at 4.25% gross, which matured on April 22, 2017. The bond had a gross coupon rate of 7.75% payable on a quarterly basis, and was recognized as HTM investment. Premium was amortized using the EIR method. Interest income, net of withholding tax, recognized on this investment amounted to Php2.3 million and Php7.3 million for the years ended December 31, 2017 and 2016, respectively. |
Investment Properties
Investment Properties | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Investment Property [Abstract] | |
Investment Properties | 13. Investment Properties Changes in investment properties account for the years ended December 31, 2018 and 2017 are as follows: Land Land Improvements Building Total (in million pesos) December 31, 2018 Balance at beginning of the year 1,322 8 305 1,635 Net gains (losses) from fair value adjustments charged to profit or loss 389 (1 ) (10 ) 378 Transfers to property and equipment (1,115 ) — (121 ) (1,236 ) Balance at end of the year 596 7 174 777 December 31, 2017 Balance at beginning of the year 1,567 8 315 1,890 Net gains (losses) from fair value adjustments charged to profit or loss 4 — (7 ) (3 ) Transfers to property and equipment (10 ) — (3 ) (13 ) Disposals (239 ) — — (239 ) Balance at end of the year 1,322 8 305 1,635 Investment properties, which consist of land, land improvements and building, are stated at fair values, which have been determined based on appraisal performed by an independent firm of appraisers, an industry specialist in valuing these types of investment properties. The valuation for land was based on a market approach valuation technique using price per square meter ranging from Php25 to Php30 thousand. The valuation for building and land improvements was based on a cost approach valuation technique using current material and labor costs for improvements based on external and independent reviewers. We have determined that the highest and best use of some of the idle or vacant land properties at the measurement date would be to convert the properties for residential or commercial development. The properties are not being used for strategic reasons. We have no restrictions on the realizability of our investment properties and no contractual obligations to either purchase, construct or develop investment properties or for repairs, maintenance and enhancements. Repairs and maintenance expenses related to investment properties that do not generate rental income amounted to Php38 million, Php27 million and Php23 million for the years ended December 31, 2018, 2017 and 2016, respectively. Rental income relating to investment properties that are being leased and included as part of revenues amounted to Php67 million, Php68 million and Php74 million for the years ended December 31, 2018, 2017 and 2016, respectively. The above investment properties were categorized under Level 3 of the fair value hierarchy. There were no transfers in and out of Level 3 of the fair value hierarchy. Significant increases (decreases) in price per square meter for land, current material and labor costs of improvements would result in a significantly higher (lower) fair value measurement. |
Goodwill and Intangible Assets
Goodwill and Intangible Assets | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Intangible Assets [Abstract] | |
Goodwill and Intangible Assets | 1 4 . Goodwill and Intangible Assets Changes in goodwill and intangible assets account for the years ended December 31, 2018 and 2017 are as follows: Intangible Asset with Intangible Assets with Finite Life Total Intangible Assets Total Goodwill Indefinite Life Trademark Franchise Customer List Spectrum Licenses Others with Finite Life Total Intangible Assets Goodwill and Intangible Assets (in million pesos) December 31, 2018 Costs: Balance at beginning of the year 4,505 3,016 4,726 1,205 1,079 1,562 11,588 16,093 63,058 79,151 Additions — — — — — 21 21 21 — 21 Disposals — — — — — (372 ) (372 ) (372 ) — (372 ) Deconsolidation — — — — — (460 ) (460 ) (460 ) (1,025 ) (1,485 ) Translation and other adjustments — — — — — 24 24 24 — 24 Balance at end of the year 4,505 3,016 4,726 1,205 1,079 775 10,801 15,306 62,033 77,339 Accumulated amortization and impairment: Balance at beginning of the year — 1,147 3,280 1,071 1,044 1,347 7,889 7,889 1,679 9,568 Disposals — — — — — (372 ) (372 ) (372 ) — (372 ) Amortization during the year (Notes 4 and 5) — 187 510 81 7 107 892 892 — 892 Deconsolidation — — — — — (331 ) (331 ) (331 ) (1,025 ) (1,356 ) Translation and other adjustments — — — — — 24 24 24 — 24 Balance at end of the year — 1,334 3,790 1,152 1,051 775 8,102 8,102 654 8,756 Net balance at end of the year 4,505 1,682 936 53 28 — 2,699 7,204 61,379 68,583 Estimated useful lives (in years) — 16 2 – 9 15 18 1 – 10 — — — — Remaining useful lives (in years) — 9 1 – 2 1 4 — — — — — December 31, 2017 Costs: Balance at beginning of the year 4,505 3,016 4,726 1,205 1,079 1,379 11,405 15,910 63,058 78,968 Additions — — — — — 138 138 138 — 138 Translation and other adjustments — — — — — 45 45 45 — 45 Balance at end of the year 4,505 3,016 4,726 1,205 1,079 1,562 11,588 16,093 63,058 79,151 Accumulated amortization and impairment: Balance at beginning of the year — 961 2,769 991 1,037 1,251 7,009 7,009 1,679 8,688 Amortization during the year (Notes 4 and 5) — 186 511 80 7 51 835 835 — 835 Translation and other adjustments — — — — — 45 45 45 — 45 Balance at end of the year — 1,147 3,280 1,071 1,044 1,347 7,889 7,889 1,679 9,568 Net balance at end of the year 4,505 1,869 1,446 134 35 215 3,699 8,204 61,379 69,583 Estimated useful lives (in years) — 16 2 – 9 15 18 1 – 10 — — — — Remaining useful lives (in years) — 10 1 – 3 2 5 5 – 9 — — — — The consolidated goodwill and intangible assets of our reportable segments as at December 31, 2018 and 2017 are as follows: 2018 2017 Wireless Fixed Line Total Wireless Fixed Line Total (in million pesos) Trademark 4,505 — 4,505 4,505 — 4,505 Franchise 1,682 — 1,682 1,869 — 1,869 Customer list 936 — 936 1,446 — 1,446 Spectrum 53 — 53 134 — 134 Licenses 28 — 28 35 — 35 Others — — — 215 — 215 Total intangible assets 7,204 — 7,204 8,204 — 8,204 Goodwill 56,571 4,808 61,379 56,571 4,808 61,379 Total goodwill and intangible assets 63,775 4,808 68,583 64,775 4,808 69,583 Intangible Assets Intangible asset with indefinite life pertains to the “ Sun Cellular Sun Cellular Sun Cellular Smart’s digital innovations arm, thru VIH’s subsidiaries PayMaya, Voyager and FINTQ continuously improve their existing products and services through regular technological development and upgrades of their platforms. Accumulated costs related to such technical activities are capitalized as intangible assets. VIH was deconsolidated in PCEV Group as at November 30, 2018. Thus, the related intangible assets of VIH was also deconsolidated. The consolidated future amortization of intangible assets as at December 31, 2018 is as follows: Year (in million pesos) 2019 758 2020 619 2021 194 2022 191 2023 and onwards 937 2,699 Impairment Testing of Goodwill and Intangible Asset with Indefinite Useful Life The organizational structure of PLDT and its subsidiaries is designed to monitor financial operations based on fixed line and wireless segmentation. Management provides guidelines and decisions on resource allocation, such as continuing or disposing of asset and operations by evaluating the performance of each segment through review and analysis of available financial information on the fixed line and wireless segments. As at December 31, 2018, the PLDT Group’s goodwill comprised of goodwill resulting from acquisition of PLDT’s additional investment in PG1 in 2014, ePLDT’s acquisition of IPCDSI in 2012, PLDT’s acquisition of Digitel in 2011, ePLDT’s acquisition of ePDS in 2011, Smart’s acquisition of PDSI and Chikka in 2009, SBI’s acquisition of Airborne Access Corporation in 2008, and Smart’s acquisition of SBI in 2004. Although revenue streams may be segregated among the companies within the PLDT Group, the cost items and cash flows are difficult to carve out due largely to the significant portion of shared and common used network/platform. The same is true for Sun, wherein Smart 2G/3G network, cellular base stations and fiber optic backbone are shared for areas where Sun has limited connectivity and facilities. On the other hand, PLDT has the largest fixed line network in the Philippines. PLDT’s transport facilities are installed nationwide to cover both domestic and international IP backbone to route and transmit IP traffic generated by the customers. In the same manner, PLDT has the most Internet Gateway facilities which are composed of high capacity IP routers and switches that serve as the main gateway of the Philippines to the Internet connecting to the World Wide Web. With PLDT’s network coverage, other fixed line subsidiaries share the same facilities to leverage on a Group perspective. Because of the significant common use of network facilities among fixed line and wireless companies within the Group, management deems that the Wireless and Fixed Line units are considered the lowest CGUs for impairment test of goodwill until 2014. In 2015, subsequent to the decision of Management to consolidate the various digital businesses under Voyager and assign a separate management from wireless business, the Voyager unit has been considered as a CGU separate from the Wireless unit. As a result, additional goodwill amounting to Php980 million was allocated to Voyager CGU. In December 2016, based on the assessment of the Voyager CGU’s recoverable amount compared with the carrying amount of the Voyager CGU’s net assets, we have recognized total impairment loss amounting to Php980 million and, consequently, any adverse change in a key assumption would result in a further impairment loss. In 2018, the Wireless and Fixed Line units are the lowest CGUs to which goodwill is to be allocated given that the Fixed Line, Wireless and Voyager operations generate cash inflows that are largely independent of the cash inflows from other assets or groups of assets. The recoverable amount of the Wireless and Fixed Line CGUs had been determined using the value- in-use approach calculated using cash flow projections based on the financial budgets approved by the Board of Directors. The post-tax discount rates applied to cash flow projections are 9.3% for the Wireless and Fixed Line CGUs. Cash flows beyond the projection period are determined using a 3.0% growth rate for the Wireless and Fixed Line CGUs, which is the same as the long-term average growth rate for the telecommunications industry. Other key assumptions used in the cash flow projections include revenue growth and capital expenditures. Based on the assessment of the VIU of the Wireless and Fixed Line CGUs, the recoverable amount of the Wireless and Fixed Line CGUs exceeded their carrying amounts, hence, no impairment was recognized in relation to goodwill and intangible assets with indefinite usefule life as at December 31, 2018 and 2017. With regard to the assessment of VIU for Wireless and Fixed Line CGUs, management believes that no reasonable changes in any of the above key assumptions would cause the carrying value of the unit to materially exceed its recoverable amount. |
Cash and Cash Equivalents
Cash and Cash Equivalents | 12 Months Ended |
Dec. 31, 2018 | |
Cash And Cash Equivalents [Abstract] | |
Cash and Cash Equivalents | 1 5 . Cash and Cash Equivalents As at December 31, 2018 and 2017, this account consists of: 2018 2017 (in million pesos) Cash on hand and in banks (Note 27) 5,982 6,351 Temporary cash investments (Note 27) 45,672 26,554 51,654 32,905 Cash in banks earn interest at prevailing bank deposit rates. Temporary cash investments are made for varying periods of up to three months depending on our immediate cash requirements, and earn interest at the prevailing temporary cash investment rates. Due to the short-term nature of such transactions, the carrying value approximates the fair value of our temporary cash investments. See Note 27 – Financial Assets and Liabilities Interest income earned from cash in banks and temporary cash investments amounted to Php957 million, Php612 million and Php582 million for the years ended December 31, 2018, 2017 and 2016, respectively. |
Trade and Other Receivables
Trade and Other Receivables | 12 Months Ended |
Dec. 31, 2018 | |
Trade And Other Receivables [Abstract] | |
Trade and Other Receivables | 16. Trade and Other Receivables As at December 31, 2018 and 2017, this account consists of receivables from: 2018 2017 (in million pesos) Retail subscribers (Note 27) 19,444 17,961 Corporate subscribers (Note 27) 11,073 9,641 Foreign administrations (Note 27) 4,225 6,517 Domestic carriers (Note 27) 270 457 Dealers, agents and others (Note 27) 5,547 13,686 40,559 48,262 Less allowance for expected credit losses/doubtful accounts (Notes 5 and 27) 16,503 14,501 24,056 33,761 Receivables from foreign administrations and domestic carriers represent receivables based on interconnection agreements with other telecommunications carriers. The aforementioned amounts of receivables are shown net of related payables to the same telecommunications carriers where a legal right of offset exists and settlement is facilitated on a net basis. Receivables from dealers, agents and others consist mainly of receivables from credit card companies, dealers and distributors having collection arrangements with the PLDT Group, dividend receivables and advances from affiliates. Trade and other receivables are non-interest-bearing and generally have settlement terms of 30 to 180 days. For terms and conditions relating to related party receivables, see Note 24 – Related Party Transactions See Note 24 – Related Party Transactions Note 27 – Financial Assets and Liabilities – Credit Risk The following table explains the changes in the allowance for expected credit losses from January 1 to December 31, 2018: For the year ended December 31, 2018 Retail Subscribers Corporate Subscribers Foreign Administrations Domestic Carriers Dealers, Agents and Others Total Stage 2 Stage 3 Stage 2 Stage 3 Stage 2 Stage 3 Stage 2 Stage 3 Stage 2 Stage 3 Stage 2 Stage 3 Lifetime ECL Lifetime ECL Lifetime ECL Lifetime ECL Lifetime ECL Lifetime ECL Total (in million pesos) Balances as at beginning of the year, as restated 787 7,925 474 3,212 7 925 1 75 147 1,206 1,416 13,343 14,759 Reclassifications and reversals 86 6 (48 ) 201 (46 ) 2 — (3 ) (5 ) (146 ) (13 ) 60 47 Provisions 20 3,109 172 820 44 (13 ) 2 2 9 27 247 3,945 4,192 Business combination/dissolution — — — — — — — — (57 ) — (57 ) — (57 ) Write-offs — (2,109 ) — (328 ) — — — — (3 ) (4 ) (3 ) (2,441 ) (2,444 ) Translation adjustments — — 5 1 — — — — — — 5 1 6 Balance at end of the year 893 8,931 603 3,906 5 914 3 74 91 1,083 1,595 14,908 16,503 Changes in the allowance for doubtful accounts for the year ended December 31, 2017 are as follows: Total Retail Subscribers Corporate Subscribers Foreign Administrations Domestic Carriers Dealers, Agents and Others (in million pesos) December 31, 2017 Balance at beginning of the year 18,788 12,588 3,827 628 134 1,611 Provisions (reversals) and other adjustments (1,029 ) (1,166 ) 15 310 (59 ) (129 ) Write-offs (3,258 ) (2,644 ) (538 ) — — (76 ) Balance at end of the year 14,501 8,778 3,304 938 75 1,406 Individual impairment 10,160 5,747 3,177 104 51 1,081 Collective impairment 4,341 3,031 127 834 24 325 14,501 8,778 3,304 938 75 1,406 Gross amount of receivables individually impaired, before deducting any impairment allowance 10,160 5,747 3,177 104 51 1,081 The significant changes in the balances of trade and other receivables and contract assets are disclosed in Note 5 – Income and Expenses Note 27 – Financial Assets and Liabilities |
Inventories and Supplies
Inventories and Supplies | 12 Months Ended |
Dec. 31, 2018 | |
Text Block1 [Abstract] | |
Inventories and Supplies | 1 7 . Inventories and Supplies As at December 31, 2018 and 2017, this account consists of: 2018 2017 (in million pesos) Terminal and cellular phone units: At net realizable value (1) 2,093 2,691 At cost 3,423 3,834 Spare parts and supplies: At net realizable value (1) 173 664 At cost 1,673 1,428 Others: At net realizable value (1) 612 578 At cost 994 1,163 Total inventories and supplies at the lower of cost or net realizable value 2,878 3,933 (1) Amounts are net of allowance for inventory obsolescence and write-downs. The cost of inventories and supplies recognized as expense for the years ended December 31, 2018, 2017 and 2016 are as follows: 2018 2017 2016 (in million pesos) Cost of sales and services 10,632 10,951 15,965 Provisions (Note 5) 1,528 907 1,941 Repairs and maintenance 692 721 596 12,852 12,579 18,502 Changes in the allowance for inventory obsolescence and write-down for the years ended December 31, 2018 and 2017 are as follows: 2018 2017 (in million pesos) Balance at beginning of the year 2,492 2,617 Provisions (Note 5) 1,528 907 Write-off and others (808 ) (1,032 ) Balance at end of the year 3,212 2,492 |
Prepayments
Prepayments | 12 Months Ended |
Dec. 31, 2018 | |
Text Block1 [Abstract] | |
Prepayments | 1 8 . Prepayments As at December 31, 2018 and 2017, this account consists of: 2018 2017 (in million pesos) Prepaid taxes 11,466 10,451 Prepaid fees and licenses 915 848 Prepaid rent 672 2,126 Prepaid benefit costs (Note 25) 393 400 Prepaid repairs and maintenance 204 207 Prepaid insurance (Note 24) 63 105 Prepaid selling and promotions (Note 24) 6 289 Other prepayments (Note 24) 296 577 14,015 15,003 Less current portion of prepayments 7,760 9,633 Noncurrent portion of prepayments 6,255 5,370 Prepaid taxes include creditable withholding taxes and input VAT. Prepaid benefit costs represent excess of fair value of plan assets over present value of defined benefit obligations recognized in our consolidated statements of financial position. See Note 25 – Employee Benefits |
Equity
Equity | 12 Months Ended |
Dec. 31, 2018 | |
Equity [Abstract] | |
Equity | 19 . Equity PLDT’s number of shares of subscribed and outstanding capital stock as at December 31, 2018 and 2017 are as follows: 2018 2017 (in million pesos) Authorized Non-Voting Serial Preferred Stock 388 388 Voting Preferred Stock 150 150 Common Stock 234 234 Subscribed Non-Voting Serial Preferred Stock (1) 300 300 Voting Preferred Stock 150 150 Common Stock 219 219 Outstanding Non-Voting Serial Preferred Stock (1) 300 300 Voting Preferred Stock 150 150 Common Stock 216 216 Treasury Stock Common Stock 3 3 (1) Includes 300 million shares of Series IV Cumulative Non-Convertible Redeemable Preferred Stock subscribed for Php3 billion, of which Php360 million has been paid. There were no changes in PLDT’s capital account for the years ended December 31, 2018 and 2017. Preferred Stock Non-Voting Serial Preferred Stock On November 5, 2013, the Board of Directors designated 50,000 shares of Non-Voting Serial Preferred Stock as Series JJ 10% Cumulative Convertible Preferred Stock to be issued from January 1, 2013 to December 31, 2015, pursuant to the SIP. On June 8, 2015, PLDT issued 870 shares of Series JJ 10% Cumulative Convertible Preferred Stock. On January 26, 2016, the Board of Directors designated 20,000 shares of Non-Voting Serial Preferred Stock as Series KK 10% Cumulative Convertible Preferred Stock to be issued from January 1, 2016 to December 31, 2020, pursuant to the PLDT Subscriber Investment Plan, or SIP. The Series JJ and KK 10% Cumulative Convertible Preferred Stock, or SIP shares, earns cumulative dividends at an annual rate of 10%. After the lapse of one year from the last day of the year of issuance of a particular Series of 10% Cumulative Convertible Preferred Stock, any holder of such series may convert all or any of the shares of 10% Cumulative Convertible Preferred Stock held by him into fully paid and non-assessable shares of Common Stock of PLDT, at a conversion price equivalent to 10% below the average of the high and low daily sales price of a share of Common Stock of PLDT on the PSE, or if there have been no such sales on the PSE on any day, the average of the bid and the ask prices of a share of Common Stock of PLDT at the end of such day on such Exchange, in each case averaged over a period of 30 consecutive trading days prior to the conversion date, but in no case shall the conversion price be less than the par value per share of Common Stock. The number of shares of Common Stock issuable at any time upon conversion of 10% Cumulative Convertible Preferred Stock is determined by dividing Php10.00 by the then applicable conversion price. In case the shares of Common Stock outstanding are at anytime subdivided into a greater or consolidated into a lesser number of shares, then the minimum conversion price per share of Common Stock will be proportionately decreased or increased, as the case may be, and in the case of a stock dividend, such price will be proportionately decreased, provided, however, that in every case the minimum conversion price shall not be less than the par value per share of Common Stock. In the event the relevant effective date for any such subdivision or consolidation of shares of stock dividend occurs during the period of 30 trading days preceding the presentation of any shares of 10% Cumulative Convertible Preferred Stock for conversion, a similar adjustment will be made in the sales prices applicable to the trading days prior to such effective date utilized in calculating the conversion price of the shares presented for conversion. In case of any other reclassification or change of outstanding shares of Common Stock, or in case of any consolidation or merger of PLDT with or into another corporation, the Board of Directors shall make such provisions, if any, for adjustment of the minimum conversion price and the sale price utilized in calculating the conversion price as the Board of Directors, in its sole discretion, shall deem appropriate. At PLDT’s option, the Series JJ and KK 10% Cumulative Convertible Preferred Stock are redeemable at par value plus accrued dividends five years after the year of issuance. The Series IV Cumulative Non-Convertible Redeemable Preferred Stock earns cumulative dividends at an annual rate of 13.5% based on the paid-up subscription price. It is redeemable at the option of PLDT at any time one year after subscription and at the actual amount paid for such stock, plus accrued dividends. The Non-Voting Serial Preferred Stocks are non-voting, except as specifically provided by law, and are preferred as to liquidation. All preferred stocks limit the ability of PLDT to pay cash dividends unless all dividends on such preferred stock for all past dividend payment periods have been paid and or declared and set apart and provision has been made for the currently payable dividends. Voting Preferred Stock On June 5, 2012, the Philippine SEC approved the amendments to the Seventh Article of PLDT’s Articles of Incorporation consisting of the sub-classification of its authorized Preferred Capital Stock into: 150 million shares of Voting Preferred Stock with a par value of Php1.00 each, and 807.5 million shares of Non-Voting Serial Preferred Stock with a par value of Php10.00 each, and other conforming amendments, or the Amendments. The shares of Voting Preferred Stock may be issued, owned, or transferred only to or by: (a) a citizen of the Philippines or a domestic partnership or association wholly-owned by citizens of the Philippines; (b) a corporation organized under the laws of the Philippines of which at least 60% of the capital stock entitled to vote is owned and held by citizens of the Philippines and at least 60% of the board of directors of such corporation are citizens of the Philippines; and (c) a trustee of funds for pension or other employee retirement or separation benefits, where the trustee qualifies under paragraphs (a) and (b) above and at least 60% of the funds accrue to the benefit of citizens of the Philippines, or Qualified Owners. The holders of Voting Preferred Stock will have voting rights at any meeting of the stockholders of PLDT for the election of directors and for all other purposes, with one vote in respect of each share of Voting Preferred Stock. The Amendments were approved by the Board of Directors and stockholders of PLDT on July 5, 2011 and March 22, 2012, respectively. On October 12, 2012, the Board of Directors, pursuant to the authority granted to it in the Seventh Article of PLDT’s Articles of Incorporation, determined the following specific rights, terms and features of the Voting Preferred Stock: (a) entitled to receive cash dividends at the rate of 6.5% per annum, payable before any dividends are paid to the holders of Common Stock; (b) in the event of dissolution or liquidation or winding up of PLDT, holders will be entitled to be paid in full, or pro-rata insofar as the assets of PLDT will permit, the par value of such shares of Voting Preferred Stock and any accrued or unpaid dividends thereon before any distribution shall be made to the holders of shares of Common Stock; (c) redeemable at the option of PLDT; (d) not convertible to Common Stock or to any shares of stock of PLDT of any class; (e) voting rights at any meeting of the stockholders of PLDT for the election of directors and all other matters to be voted upon by the stockholders in any such meetings, with one vote in respect of each Voting Preferred Share; and (f) holders will have no pre-emptive right to subscribe for or purchase any shares of stock of any class, securities or warrants issued, sold or disposed by PLDT. On October 16, 2012, BTFHI subscribed to 150 million newly issued subscription December 31, 2018 See Note 1 – Corporate Information and Note 26 – Provisions and Contingencies – In the Matter of the Wilson Gamboa Case and Jose M. Roy III Petition . Redemption of Preferred Stock On September 23, 2011, the Board of Directors approved the redemption, or the Redemption, of all outstanding shares of PLDT’s Series A to FF 10% Cumulative Convertible Preferred Stock, or the Series A to FF Shares, from holders of record as of October 10, 2011, and all such shares were redeemed and retired effective on January 19, 2012. In accordance with the terms and conditions of the Series A to FF Shares, the holders of Series A to FF Shares as at January 19, 2012 are entitled to payment of the redemption price in an amount equal to the par value of such shares, plus accrued and unpaid dividends thereon up to January 19, 2012, or the Redemption Price of Series A to FF Shares. PLDT has set aside Php4,029 million (the amount required to fund the redemption price for the Series A to FF Shares) in addition to Php4,143 million for unclaimed dividends on Series A to FF Shares, or a total amount of Php8,172 million, to fund the redemption of the Series A to FF Shares, or the Redemption Trust Fund, in a trust account, or the Trust Account, in the name of RCBC, as Trustee. Pursuant to the terms of the Trust Account, the Trustee will continue to hold the Redemption Trust Fund or any balance thereof, in trust, for the benefit of holders of Series A to FF Shares, for a period of ten years from January 19, 2012 until January 19, 2022. After the said date, any and all remaining balance in the Trust Account shall be returned to PLDT and revert to its general funds. Any interests on the Redemption Trust Fund shall accrue for the benefit of, and be paid from time to time, to PLDT. On May 8, 2012, the Board of Directors approved the redemption of all outstanding shares of PLDT’s Series GG 10% Cumulative Convertible Preferred Stock, or the Series GG Shares, from the holders of record as of May 22, 2012, and all such shares were redeemed and retired effective August 30, 2012. In accordance with the terms and conditions of the Series GG Shares, the holders of the Series GG Shares as at May 22, 2012 are entitled to the payment of the redemption price in an amount equal to the par value of such shares, plus accrued and unpaid dividends thereon up to August 30, 2012, or the Redemption Price of Series GG Shares. PLDT has set aside Php236 thousand (the amount required to fund the redemption price for the Series GG Shares) in addition to Php74 thousand for unclaimed dividends on Series GG Shares, or a total amount of Php310 thousand, to fund the redemption price for the Series GG Shares, or the Redemption Trust Fund for Series GG Shares, which forms an integral part of the Redemption Trust Fund previously set aside in the trust account with RCBC, as Trustee, for the purpose of funding the payment of the Redemption Price of Series A to FF Shares. Pursuant to the terms of the Trust Account, the Trustee will continue to hold the Redemption Trust Fund for Series GG Shares or any balance thereof, in trust, for the benefit of holders of Series GG Shares, for a period of ten years from August 30, 2012, or until August 30, 2022. After the said date, any and all remaining balance in the Redemption Trust Fund for Series GG Shares shall be returned to PLDT and revert to its general funds. Any interests on the Redemption Trust Fund for Series GG Shares shall accrue for the benefit of, and be paid from time to time, to PLDT. On January 29, 2013, the Board of Directors approved the redemption of all outstanding shares of PLDT’s Series HH 10% Cumulative Convertible Preferred Stock which were issued in 2007, or Series HH Shares issued in 2007, from the holders of record as of February 14, 2013 and all such shares were redeemed and retired effective May 16, 2013. In accordance with the terms and conditions of Series HH Shares issued in 2007, the holders of Series HH Shares issued in 2007 as at February 14, 2013 are entitled to the payment of the redemption price in an amount equal to the par value of such shares, plus accrued and unpaid dividends thereon up to May 16, 2013, or the Redemption Price of Series HH Shares issued in 2007. PLDT has set aside Php24 thousand (the amount required to fund the redemption price for the Series HH Shares issued in 2007) in addition to Php6 thousand for unclaimed dividends on Series HH Shares issued in 2007, or a total amount of Php30 thousand, to fund the redemption price of Series HH Shares issued in 2007, or the Redemption Trust Fund for Series HH Shares issued in 2007, which forms an integral part of the Redemption Trust Funds previously set aside in the trust account with RCBC, as Trustee, for the purpose of funding the payment of the Redemption Price of Series A to GG Shares. Pursuant to the terms of the Trust Account, the Trustee will continue to hold the Redemption Trust Fund for Series HH Shares issued in 2007 or any balance thereof, in trust, for the benefit of holders of Series HH Shares issued in 2007, for a period of ten years from May 16, 2013, or until May 16, 2023. After the said date, any and all remaining balance in the Redemption Trust Fund for Series HH Shares issued in 2007 shall be returned to PLDT and revert to its general funds. Any interests on the Redemption Trust Fund for Series HH Shares issued in 2007 shall accrue for the benefit of, and be paid from time to time, to PLDT. On January 28, 2014, the Board of Directors approved the redemption of all outstanding shares of PLDT’s Series HH 10% Cumulative Convertible Preferred Stock which were issued in 2008, or the Series HH Shares issued in 2008, from the holders of record as of February 14, 2014 and all such shares were redeemed and retired effective May 16, 2014. In accordance with the terms and conditions of Series HH Shares issued in 2008, the holders of Series HH Shares issued in 2008 as at February 14, 2014 are entitled to the payment of the redemption price in an amount equal to the par value of such shares, plus accrued and unpaid dividends thereon up to May 16, 2014, or the Redemption Price of Series HH Shares issued in 2008. PLDT has set aside Php2 thousand (the amount required to fund the redemption price of Series HH Shares issued in 2008) in addition to Php1 thousand for unclaimed dividends on Series HH Shares issued in 2008, or a total amount of Php3 thousand, to fund the redemption price of Series HH Shares issued in 2008, or the Redemption Trust Fund for Series HH Shares issued in 2008, which forms an integral part of the Redemption Trust Funds previously set aside in the trust account with RCBC, as Trustee, for the purpose of funding the payment of the Redemption Price of Series A to HH Shares issued in 2007. Pursuant to the terms of the Trust Account, the Trustee will continue to hold the Redemption Trust Fund for Series HH Shares issued in 2008 or any balance thereof, in trust, for the benefit of holders of Series HH Shares issued in 2008, for a period of ten years from May 16, 2014, or until May 16, 2024. After the said date, any and all remaining balance in the Redemption Trust Fund for Series HH Shares issued in 2008 shall be returned to PLDT and revert to its general funds. Any interests on the Redemption Trust Fund for Series HH Shares issued in 2008 shall accrue for the benefit of, and be paid from time to time, to PLDT. On January 26, 2016, the Board of Directors approved the redemption of all outstanding shares of PLDT’s Series II 10% Cumulative Convertible Preferred Stock, or the Series II Shares, from the holder of record as of February 10, 2016, and all such shares were redeemed and retired effective on May 11, 2016. In accordance with the terms and conditions of Series II Shares, the holders of Series II Shares as at February 10, 2016 is entitled to the payment of the redemption price in an amount equal to the par value of such shares, plus accrued and unpaid dividends thereon up to May 11, 2016, or the Redemption Price of Series II Shares. PLDT has set aside Php4 thousand to fund the redemption price of Series II Shares, or the Redemption Trust Fund for Series II Shares, which forms an integral part of the Redemption Trust Funds previously set aside in the trust account with RCBC, as Trustee, for the purpose of funding the payment of the Redemption Price of Series A to HH Shares issued in 2008. Pursuant to the terms of the Trust Account, the Trustee will continue to hold the Redemption Trust Fund for Series II Shares or any balance thereof, in trust, for the benefit of holder of Series II Shares, for a period of ten years from May 11, 2016, or until May 11, 2026. After the said date, any and all remaining balance in the Redemption Trust Fund for Series II Shares shall be returned to PLDT and revert to its general funds. Any interests on the Redemption Trust Fund for Series II Shares shall accrue for the benefit of, and be paid from time to time, to PLDT. As at January 19, 2012, August 30, 2012, May 16, 2013, May 16, 2014 and May 11, 2016, notwithstanding that any stock certificate representing the Series A to FF Shares, Series GG Shares, Series HH Shares issued in 2007, Series HH Shares issued in 2008 and Series II Shares, respectively, were not surrendered for cancellation, the Series AA to II Shares were no longer deemed outstanding and the right of the holders of such shares to receive dividends thereon ceased to accrue and all rights with respect to such shares ceased and terminated, except only the right to receive the Redemption Price of such shares, but without interest thereon. Total amounts of Php8 million, Php13 million and Php23 million were withdrawn from the Trust Account, representing total payments on redemption for the years ended December 31, 2018, 2017 and 2016, respectively. The balance of the Trust Account of Php7,862 million were presented as part of “Current portion of other financial assets” as at December 31, 2018 and Php7,870 million were presented as part of “Current portion of advances and other noncurrent assets” as at December 31, 2017 and the related redemption liability were presented as part of “Accrued expenses and other current liabilities” in our consolidated statements of financial position as at December 31, 2018 and 2017. See Note 2 – Summary of Significant Accounting Policies – Issuance of Perpetual Notes 23 – Accrued Expenses and Other Current Liabilities Note 27 – Financial Assets and Liabilities PLDT expects to similarly redeem and retire the outstanding shares of Series JJ and KK 10% Cumulative Convertible Preferred Stock as and when they become eligible for redemption. Common Stock/Treasury Stock The Board of Directors approved a share buyback program of up to five million shares of PLDT’s common stock, representing approximately 3% of PLDT’s then total outstanding shares of common stock in 2008. Under the share buyback program, PLDT reacquired shares on an opportunistic basis, directly from the open market through the trading facilities of the PSE and NYSE. As at November 2010, we had acquired a total of approximately 2.72 million shares of PLDT’s common stock at a weighted average price of Php2,388 per share for a total consideration of Php6,505 million in accordance with the share buyback program. There were no further buyback transactions subsequent to November 2010. Dividends Declared Our dividends declared for the years ended December 31, 2018, 2017 and 2016 are detailed as follows: December 31, 2018 Date Amount Class Approved Record Payable Per Share Total (in million pesos, except per share amounts) Cumulative Convertible Preferred Stock Series JJ June 13, 2018 June 28, 2018 June 29, 2018 1.00 — Cumulative Non-Convertible Redeemable Preferred Stock Series IV* January 22, 2018 February 21, 2018 March 15, 2018 — 12 May 10, 2018 May 25, 2018 June 15, 2018 — 12 August 9, 2018 August 28, 2018 September 15, 2018 — 13 November 8, 2018 November 23, 2018 December 15, 2018 — 12 49 Voting Preferred Stock March 8, 2018 March 28, 2018 April 15, 2018 — 3 June 13, 2018 June 29, 2018 July 15, 2018 — 2 September 25, 2018 October 9, 2018 October 15, 2018 — 2 December 4, 2018 December 19, 2018 January 15, 2019 — 3 10 Common Stock Regular Dividend March 27, 2018 April 13, 2018 April 27, 2018 28.00 6,050 August 9, 2018 August 28, 2018 September 11, 2018 36.00 7,778 13,828 Charged to retained earnings 13,887 * December 31, 2017 Date Amount Class Approved Record Payable Per Share Total (in million pesos, except per share amounts) Cumulative Convertible Preferred Stock Series JJ May 12, 2017 June 1, 2017 June 30, 2017 1.00 — Cumulative Non-Convertible Redeemable Preferred Stock Series IV* February 7, 2017 February 24, 2017 March 15, 2017 — 12 May 12, 2017 May 26, 2017 June 15, 2017 — 12 August 10, 2017 August 25, 2017 September 15, 2017 — 13 November 9, 2017 November 28, 2017 December 15, 2017 — 12 49 Voting Preferred Stock March 7, 2017 March 30, 2017 April 15, 2017 — 3 June 13, 2017 June 27, 2017 July 15, 2017 — 2 September 26, 2017 October 10, 2017 October 15, 2017 — 2 December 5, 2017 December 20, 2017 January 15, 2018 — 3 10 Common Stock Regular Dividend March 7, 2017 March 21, 2017 April 6, 2017 28.00 6,049 August 10, 2017 August 25, 2017 September 8, 2017 48.00 10,371 16,420 Charged to retained earnings 16,479 * December 31, 2016 Date Amount Class Approved Record Payable Per Share Total (in million pesos, except per share amounts) Cumulative Convertible Preferred Stock Series II (Final Dividends) April 12, 2016 February 10, 2016 May 11, 2016 0.0027/day — Series JJ May 3, 2016 June 2, 2016 June 30, 2016 1.00 — — Cumulative Non-Convertible Redeemable Preferred Stock Series IV* January 26, 2016 February 24, 2016 March 15, 2016 — 12 May 3, 2016 May 24, 2016 June 15, 2016 — 12 August 2, 2016 August 18, 2016 September 15, 2016 — 12 November 14, 2016 November 28, 2016 December 15, 2016 — 12 48 Voting Preferred Stock February 29, 2016 March 30, 2016 April 15, 2016 — 3 June 14, 2016 June 30, 2016 July 15, 2016 — 3 August 30, 2016 September 20, 2016 October 15, 2016 — 2 December 6, 2016 December 20, 2016 January 15, 2017 — 3 11 Common Stock Regular Dividend February 29, 2016 March 14, 2016 April 1, 2016 57.00 12,315 August 2, 2016 August 16, 2016 September 1, 2016 49.00 10,587 22,902 Charged to retained earnings 22,961 * Our dividends declared after December 31, 2018 are detailed as follows: Date Amount Class Approved Record Payable Per Share Total (in million pesos, except per share amounts) Cumulative Non-Convertible Redeemable Preferred Stock Series IV* January 29, 2019 February 22, 2019 March 15, 2019 — 12 Voting Preferred Stock March 7, 2019 March 27, 2019 April 15, 2019 — 3 Common Stock Regular Dividend March 21, 2019 April 4, 2019 April 23, 2019 36.00 7,778 Charged to retained earnings 7,793 * Retained Earnings Available for Dividend Declaration The following table shows the reconciliation of our consolidated retained earnings available for dividend declaration as at December 31, 2018: (in million pesos) Consolidated unappropriated retained earnings as at December 31, 2017 1,157 Effect of IAS 27 adjustments 33,995 Parent Company’s unappropriated retained earnings at beginning of the year 35,152 Effect of adoption of IFRS 9 and IFRS 15 129 Parent Company’s unappropriated retained earnings at beginning of the year, as restated 35,281 Less: Cumulative unrealized income – net of tax: Unrealized foreign exchange gains – net (except those attributable to cash and cash equivalents) (523 ) Fair value adjustments of investment property resulting to gain (778 ) Fair value adjustments (mark-to-market gains) (3,182 ) Parent Company’s unappropriated retained earnings available for dividends as at January 1, 2018 30,798 Parent Company’s net income for the year 11,159 Less: Fair value adjustment of investment property resulting to gain (110 ) Fair value adjustments (mark-to-market gains) (258 ) 10,791 Less: Cash dividends declared during the year Preferred stock (59 ) Common stock (13,828 ) (13,887 ) Parent Company’s unappropriated retained earnings available for dividends as at December 31, 2018 27,702 As at December 31, 2018, our consolidated unappropriated retained earnings amounted to Php12,081 million while the Parent Company’s unappropriated retained earnings amounted to Php 32,553 20,472 As at December 31, 2017, our consolidated unappropriated retained earnings amounted to Php634 million while the Parent Company’s unappropriated retained earnings amounted to Php35,152 million. The difference of Php34,518 million pertains to the effect of IAS 27 in our investments in subsidiaries, associates and joint ventures accounted for under equity method. Perpetual Notes Smart issued Php2,610 million and Php1,590 million perpetual notes on March 3, 2017 and March 6, 2017, respectively, under two Notes Facility Agreements dated March 1, 2017 and March 2, 2017, respectively. The transaction costs amounting to Php35 million were accounted as a deduction from the perpetual notes. Smart paid distributions amounting to Php236 million and Php177 million as at December 31, 2018 and 2017, respectively. On July 18, 2017, Smart issued additional Php1,100 million perpetual notes, to RCBC, Trustee of PLDT’s Redemption Trust Fund, under a new Notes Facility Agreement. The transaction costs amounting to Php5 million were accounted as a deduction from the perpetual notes. Smart paid distributions amounting to Php57 million and Php14 million as at December 31, 2018 and 2017, respectively. This transaction was eliminated in our consolidated financial statements. Proceeds from the issuance of these notes are intended to finance capital expenditures. The notes have no fixed redemption dates and Smart may, at its sole option, redeem the notes in whole but not in part. In accordance with IAS 32, the notes are classified as part of equity in the financial statements. The notes are subordinated to and rank junior to all senior loans of Smart. |
Interest-bearing Financial Liab
Interest-bearing Financial Liabilities | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Detailed Information About Borrowings [Abstract] | |
Interest-bearing Financial Liabilities | 2 0 . Interest-bearing Financial Liabilities As at December 31, 2018 and 2017, this account consists of the following: 2018 2017 (in million pesos) Long-term portion of interest-bearing financial liabilities: Long-term debt (Notes 9 and 27) 155,835 157,654 Current portion of interest-bearing financial liabilities: Long-term debt maturing within one year (Notes 9 and 27) 20,441 14,957 Unamortized debt discount, representing debt issuance costs and any difference between the fair value of consideration given or received at initial recognition, included in our financial liabilities amounted to Php418 million and Php525 million as at December 31, 2018 and 2017, respectively. See Note 27 – Financial Assets and Liabilities The following table describes all changes to unamortized debt discount for the years ended December 31, 2018 and 2017: 2018 2017 (in million pesos) Unamortized debt discount at beginning of the year 525 631 Additions during the year 38 113 Accretion during the year included as part of Financing costs (Note 5) (145 ) (219 ) Unamortized debt discount at end of the year 418 525 Long-term Debt As at December 31, 2018 and 2017, long-term debt consists of: 2018 2017 Description Interest Rates U.S. Dollar Php U.S. Dollar Php (in millions) U.S. Dollar Debts: Export Credit Agencies-Supported Loans: Exportkreditnamnden, or EKN 1.4100% in 2018 and 1.4100% to 1.9000% and US$LIBOR + 0.3000% in 2017 2 103 11 547 Fixed Rate Notes 8.3500% in 2017 — — — — Term Loans: GSM Network Expansion Facilities US$LIBOR + 1.1125% in 2017 — — — — Others 2.8850% and US$ LIBOR + 0.7900% to 1.6000% in 2018 and 2017 442 23,249 690 34,485 444 23,352 701 35,032 Philippine Peso Debts: Fixed Rate Corporate Notes 5.3938% to 5.9058% in 2018 and 5.3300% to 6.2600% in 2017 15,511 15,675 Fixed Rate Retail Bonds 5.2250% to 5.2813% in 2018 and 2017 14,943 14,922 Term Loans: Unsecured Term Loans 3.9000% to 6.7339%; PDST- R2/ (1) to 1.0000% in 2018 and 3.9000% to 6.4044%; BSP overnight rate and PDST-R2 + 1.0000% in 2017 122,470 106,982 152,924 137,579 Total long-term debt (Notes 27 and 28) 176,276 172,611 Less portion maturing within one year (Note 27) 20,441 14,957 Noncurrent portion of long-term debt (Note 27) 155,835 157,654 (1) The scheduled maturities of our consolidated outstanding long-term debt at nominal values as at December 31, 2018 are as follows: U.S. Dollar Debt Php Debt Total Year U.S. Dollar Php Php Php (in millions) 2019 110 5,779 14,776 20,555 2020 210 11,057 8,943 20,000 2021 46 2,386 20,098 22,484 2022 30 1,597 14,392 15,989 2023 25 1,314 24,098 25,412 2024 and onwards 25 1,314 70,940 72,254 (Note 27) 446 23,447 153,247 176,694 In order to acquire imported components for our network infrastructure in connection with our expansion and service improvement programs, we obtained loans extended and/or guaranteed by various export credit agencies as at December 31, 2018 and 2017: Cancelled Drawn Undrawn Outstanding Amounts Date of Terms Amount Amount 2018 2017 Loan Amount Loan Agreement Lender(s) Installments Final Installment Dates Drawn U.S. Dollar Paid in full on U.S. Dollar Php U.S. Dollar Php (in millions) (in millions) U.S. Dollar Debts EKN, the Export-Credit Agency of Sweden DMPI US$59.2M (1) December 17, 2007 ING Bank N.V., or ING Bank, Societe Generale and Calyon 18 equal semi-annual March 31, 2017 Various dates in 2008-2009 59.1 0.1 March 31, 2017 — — — — DMPI US$51.2M (2) December 17, 2007 ING Bank, Societe Generale and Calyon 18 equal semi-annual June 30, 2017 Various dates in 2008-2009 51.1 0.1 March 31, 2017 — — — — Smart US$49M (3) Tranche A1: US$24M; Tranche A2: US$24M; Tranche B: US$1M June 10, 2011 Nordea Bank AB (publ), or Nordea Bank, subsequently assigned to SEK on June 10, 2011 10 equal semi-annual Tranche A1 and B: December 29, 2016; Tranche A2: October 30, 2017 Various dates in 2012 and February 21, 2013 49.0 — April 28, 2017 — — — — Smart US$45.6M (3) Tranche A1: US$25M; Tranche A2: US$19M; Tranche B1: US$0.9M; Tranche B2: US$0.7M February 22, 2013 Nordea Bank, subsequently assigned to SEK on July 3, 2013 10 equal semi-annual, commencing 6 months after the applicable mean delivery date Tranche A1 and B1: July 16, 2018; Tranche A2 and B2: April 15, 2019 Various dates in 2013-2014 45.6 — — 2 (*) 103 (*) 11 (*) 547 (*) 2 103 11 547 (*) (1) The purpose of this loan is to finance the equipment and service contracts for the Phase 7 North Luzon Expansion and Change-out Project. (2) The purpose of this loan is to finance the equipment and service contracts for the Phase 7 Expansion Project in Visayas and Mindanao. (3) The purpose of this loan is to finance the supply and services contracts for the modernization and expansion project. Outstanding Amounts Terms Repurchase 2018 2017 Loan Amount Issuance Date Trustee Installments Maturity Date Amount U.S. Dollar Paid in full on U.S. Dollar Php U.S. Dollar Php (in millions) (in millions) Fixed Rate Notes PLDT US$300M (1) March 6, 1997 Deutsche Bank Trust Company Americas Non- amortizing March 6, 2017 Various dates in 2008-2014 71.6 March 6, 2017 – – – – (1) Cancelled Date of Terms Drawn Undrawn Loan Final Amount Amount Paid in Outstanding Amounts Loan Amount Agreement Lender(s) Installments Installment Dates Drawn U.S. Dollar full on U.S. Dollar Php U.S. Dollar Php (in millions) (in millions) Term Loans GSM Network Expansion Facilities Smart US$50M (1) May 29, 2012 MUFG Bank, Ltd., formerly The Bank of Tokyo Mitsubishi UFJ, Ltd. 9 equal semi-annual, commencing on May 29, 2013 May 29, 2017 Various dates in 2012 50 – May 29, 2017 – – – – ( 1) The purpose of this loan is to finance the equipment and service contracts for the modernization and expansion project. Cancelled Drawn Undrawn Outstanding Amounts Date of Loan Amount Amount Paid in 2018 2017 Loan Amount Agreement Lender(s) Terms Dates Drawn U.S. Dollar full on U.S. Dollar Php U.S. Dollar Php (in millions) (in millions) Other Term Loans (1) PLDT US$150M March 7, 2012 Syndicate of Banks with MUFG Bank, Ltd. as Facility Agent 9 equal semi-annual installment, commencing on the date which falls 12 months after the date of the loan agreement, with final installment on March 7, 2017 Various dates in 2012 150 — March 7, 2017 — — — — PLDT US$300M January 16, 2013 Syndicate of Banks with MUFG Bank, Ltd. as Facility Agent 9 equal semi-annual installment, commencing on the date which falls 12months after the date of the loan agreement, with final installment on January 16, 2018 Various dates in 2013 300 — January 16, 2018 — — 33 1,665 Smart US$35M January 28, 2013 China Banking Corporation, or CBC 10 equal semi-annual installment, with final installment on January 29, 2018 May 7, 2013 35 — January 30, 2017 — — — — Smart US$50M March 25, 2013 FEC 9 equal semi-annual installment, commencing six months after drawdown date, with final installment on March 23, 2018 Various dates in 2013 and 2014 32 18 March 23, 2018 — — 3 (*) 178 (*) Smart US$80M May 31, 2013 CBC 10 equal semi-annual installment, commencing six months after drawdown date, with final installment on May 31, 2018 September 25, 2013 80 — May 31, 2018 — — 8 400 Smart US$120M June 20, 2013 Mizuho Bank Ltd. and Sumitomo Mitsui Banking Corporation, or Sumitomo, with Sumitomo as Facility Agent 8 equal semi-annual installment, commencing six months after drawdown date, with final installment on June 20, 2018 September 25, 2013 120 — June 20, 2018 — — 15 (*) 747 (*) Smart US$100M March 7, 2014 MUFG Bank, Ltd. 9 equal semi-annual installment, commencing 12 months after drawdown date, with final installment on March 7, 2019 Various dates in 2014 March 2, 2015 90 10 — — 11 (*) 583 (*) 33 (*) 1,658 (*) 11 583 92 4,648 (*) (1) Cancelled Date of Drawn Undrawn Outstanding Amounts Loan Dates Amount Amount Paid in 2018 2017 Loan Amount Agreement Lender(s) Terms Drawn U.S. Dollar full on U.S. Dollar Php U.S. Dollar Php (in millions) (in millions) Smart US$50M May 14, 2014 Mizuho Bank Ltd. 9 equal semi-annual installment, commencing 11 months after drawdown date, with final installment on May 14, 2019 July 1, 2014 50 — — 6 (*) 291 (*) 17 (*) 828 (*) PLDT US$100M August 5, 2014 Philippine National Bank, or PNB Annual amortization rate of 1% of the issue price on the first year up to the fifth year from the initial drawdown date, with final installment on August 11, 2020 Various dates in 2014 100 — — 96 5,046 97 4,846 PLDT US$50M August 29, 2014 Metrobank Semi-annual amortization rate of 1% of the issue price on the first year up to the fifth year from the initial drawdown date and the balance payable upon maturity on September 2, 2020 September 2, 2014 50 — — 48 2,536 49 2,435 PLDT US$200M Tranche A: US$150M; Tranche B: US$50M February 26, 2015 MUFG Bank, Ltd. Commencing 36 months after loan date, with semi-annual amortization of 23.75% of the loan amount on the first and second repayment dates and seven semi- annual amortizations of 7.5% starting on the third repayment date, with final installment on February 25, 2022 Various dates in 2015 200 — — 104 (*) 5,492 (*) 199 (*) 9,945 (*) Smart US$200M March 4, 2015 Mizuho Bank Ltd. 9 equal semi-annual installments commencing on the date which falls 12 months after the loan date, with final installment on March 4, 2020 Various dates in 2015 200 — — 66 (*) 3,490 (*) 110 (*) 5,511 (*) Smart US$100M December 7, 2015 Mizuho Bank Ltd. 13 equal semi-annual installments commencing on the date which falls 12 months after the loan date, with final installment on December 7, 2022 Various dates in 2016 100 — — 61 (*) 3,198 (*) 76 (*) 3,791 (*) PLDT US$25M March 22, 2016 NTT Finance Corporation Non-amortizing, payable upon maturity on March 30, 2023 March 30, 2016 25 — — 25 (*) 1,307 (*) 25 (*) 1,241 (*) PLDT US$25M January 31, 2017 NTT Finance Corporation Non-amortizing, payable upon maturity on March 27, 2024 March 30, 2017 25 — — 25 (*) 1,306 (*) 25 (*) 1,240 (*) 431 22,666 598 29,837 442 23,249 690 34,485 (*) Prepayments Outstanding Amounts Date of Loan Date of Issuance/ Amount 2018 2017 Loan Amount Agreement Facility Agent Installments Drawdown Php Date U.S. Dollar Php (in millions) (in millions) Philippine Peso Debts Fixed Rate Corporate Notes (1) Smart Php5,500M Series A: Php1,910M; March 15, 2012 Metrobank Series A: 1% annual amortization starting March 19, 2013, with the balance of 96% payable on March 20, 2017; Drawn and issued on March 19, 2012 1,376 2,803 July 19, 2013 June 19, 2017 — — Series B: Php3,590M Series B: 1% annual amortization starting March 19, 2013 with the balance of 91% payable on March 19, 2022 PLDT Php1,500M July 25, 2012 Metrobank Annual amortization rate of 1% of the issue price on the first year up to the sixth year from issue date and the balance payable upon maturity on July 27, 2019 July 27, 2012 1,188 July 29, 2013 282 285 PLDT Php8,800M Series A: Php4,610M; September 19, 2012 Metrobank Series A: 1% annual amortization on the first up to sixth year, with the balance payable on September 21, 2019; September 21, 2012 2,055 June 21, 2013 6,340 6,408 Series B: Php4,190M Series B: 1% annual amortization on the first up to ninth year, with the balance payable on September 21, 2022 PLDT Php6,200M Series A: 7-year notes Php3,775M; November 20, 2012 BDO Unibank, Inc., or BDO Series A: Annual amortization rate of 1% of the issue price on the first year up to the sixth year from issue date and the balance payable upon maturity on November 22, 2019; November 22, 2012 3,549 February 22, 2019 5,828 5,890 Series B: 10-year notes Php2,425M Series B: Annual amortization rate of 1% of the issue price on the first year up to the ninth year from issue date and the balance payable upon maturity on November 22, 2022 Smart Php1,376M Series A: Php742M; June 14, 2013 Metrobank Series A: Annual amortization equivalent to 1% of the principal amount starting June 19, 2014 with the balance of 97% payable on March 20, 2017; June 19, 2013 608 June 19, 2017 — — Series B: Php634M Series B: Annual amortization equivalent to 1% of the principal amount starting June 19, 2014 with the balance of 92% payable on March 21, 2022 PLDT Php2,055M Series A: Php1,735M; June 14, 2013 Metrobank Series A: Annual amortization rate of 1% of the issue price up to the fifth year and the balance payable upon maturity on September 21, 2019; June 21, 2013 — — 1,932 1,952 Series B: Php320M Series B: Annual amortization rate of 1% of the issue price up to the eighth year and the balance payable upon maturity on September 21, 2022 PLDT Php1,188M July 19, 2013 Metrobank Annual amortization rate of 1% of the issue on the first year up to the fifth year from the issue date and the balance payable upon maturity on July 27, 2019 July 29, 2013 — — 1,129 1,140 15,511 15,675 (1) Prepayments Outstanding Amounts Date of Loan Date of Issuance/ Amount 2018 2017 Loan Amount Agreement Paying Agent Terms Drawdown Php Date Php Php (in millions) (in millions) Fixed Rate Retail Bonds (1) PLDT Php15,000M January 22, 2014 Philippine Depositary Trust Corp. Php12.4B – non- amortizing, payable in full upon maturity on February 6, 2021; Php2.6B – non- amortizing payable in full on February 6, 2024 February 6, 2014 — — 14,943 (*) 14,922 (*) (*) Amounts are net of unamortized debt discount and/or debt issuance cost. (1) This fixed rate retail corporate bond is comprised of Php12.4 billion and Php2.6 billion due in 2021 and 2024 with a coupon rate of 5.2250% and 5.2813%, respectively. The purpose of this loan is to finance capital expenditures and/or refinance existing loan obligations which were utilized for network expansion and improvement programs. Cancelled Drawn Undrawn Outstanding Amounts Date of Loan Amount Amount Paid in 2018 2017 Loan Amount Agreement Lender(s) Terms Dates Drawn Php Php full on Php Php (in millions) (in millions) Term Loans Unsecured Term Loans (1) PLDT Php2,000M March 20, 2012 RCBC Annual amortization rate of 1% on the fifth year up to the ninth year from the initial drawdown date and the balance payable upon maturity on April 12, 2022 April 12, 2012 2,000 — — 1,960 1,980 PLDT Php3,000M April 27, 2012 Land Bank of the Philippines, or LBP Annual amortization rate of 1% on the first year up to the fourth year from drawdown date and the balance payable upon maturity on July 18, 2017 July 18, 2012 3,000 — January 18, 2017 — — PLDT Php2,000M May 29, 2012 LBP Annual amortization rate of 1% on the first year up to the fourth year from drawdown date and the balance payable upon maturity on June 27, 2017 June 27, 2012 2,000 — June 27, 2017 — — Smart Php1,000M June 7, 2012 LBP Annual amortization rate of 1% of the principal amount commencing on the first year of the initial drawdown up to the fourth year and the balance payable upon maturity on August 22, 2017 August 22, 2012 1,000 — February 22, 2017 — — PLDT Php200M August 31, 2012 Manufacturers Life Insurance Co. (Phils.), Inc. Payable in full upon maturity on October 9, 2019 October 9, 2012 200 — — 200 200 PLDT Php1,000M September 3, 2012 Union Bank of the Philippines, or Union Bank Annual amortization rate of 1% on the first year up to the sixth year from the initial drawdown date and the balance payable upon maturity on January 13, 2020 January 11, 2013 1,000 — — 950 960 PLDT Php1,000M October 11, 2012 Philippine American Life and General Insurance Company, or Philam Life Payable in full upon maturity on December 5, 2022 December 3, 2012 1,000 — — 1,000 1,000 Smart Php3,000M December 17, 2012 LBP Annual amortization rate of 1% of the principal amount on the first year up to the sixth year commencing on the first year anniversary of the initial drawdown and the balance payable upon maturity on December 20, 2019 Various dates in 2012-2013 3,000 — — 2,820 2,850 PLDT Php2,000M November 13, 2013 Bank of the Philippine Islands, or BPI Annual amortization rate of 1% on the first year up to the sixth year from the initial drawdown and the balance payable upon maturity on November 22, 2020 Various dates in 2013-2014 2,000 — — 1,900 1,920 8,830 8,910 ( 1) The purpose of this loan is to finance the capital expenditures and/or refinance existing loan obligations, which were utilized for service improvements and expansion programs. Cancelled Drawn Undrawn Outstanding Amounts Date of Loan Amount Amount Paid in 2018 2017 Loan Amount Agreement Lender(s) Terms Dates Drawn Php Php full on Php Php (in millions) (in millions) Smart Php3,000M November 25, 2013 Metrobank Annual amortization rate of 10% of the total amount drawn for six years and the final installment is payable upon maturity on November 27, 2020 November 29, 2013 3,000 — — 1,497 (*) 1,795 (*) Smart Php3,000M December 3, 2013 BPI Annual amortization rate of 1% of the total amount drawn for the first six years and the final installment is payable upon maturity on December 10, 2020 December 10, 2013 3,000 — — 2,846 (*) 2,874 (*) Smart Php3,000M January 29, 2014 LBP Annual amortization rate of 1% of the principal amount on the first year up to the sixth year commencing on the first year anniversary of the initial drawdown and the balance payable upon maturity on February 5, 2021 February 5, 2014 3,000 — — 2,875 (*) 2,903 (*) Smart Php500M February 3, 2014 LBP Annual amortization rate of 1% of the principal amount on the first year up to the sixth year commencing on the first year anniversary of the initial drawdown and the balance payable upon maturity on February 5, 2021 February 7, 2014 500 — — 480 485 Smart Php2,000M March 26, 2014 Union Bank Annual amortization rate of 1% of the principal amount on the first year up to the sixth year commencing on the first year anniversary of the initial drawdown and the balance payable upon maturity on March 29, 2021 March 28, 2014 2,000 — — 1,920 1,940 PLDT Php1,500M April 2, 2014 Philam Life Payable in full upon maturity on April 4, 2024 April 4, 2014 1,500 — — 1,500 1,500 Smart Php500M April 2, 2014 BDO Annual amortization rate of 1% of the principal amount on the first year up to the sixth year commencing on the first year anniversary of the initial drawdown and the balance payable upon maturity on April 2, 2021 April 4, 2014 500 — — 480 485 PLDT Php1,000M May 23, 2014 Philam Life Payable in full upon maturity on May 28, 2024 May 28, 2014 1,000 — — 1,000 1,000 PLDT Php1,000M June 9, 2014 LBP Annual amortization rate of 1% on the first year up to the ninth year from initial drawdown date and the balance payable upon maturity on June 13, 2024 June 13, 2014 1,000 — — 960 970 PLDT Php1,500M July 28, 2014 Union Bank Annual amortization rate of 1% on the first year up to the ninth year from initial drawdown date and the balance payable upon maturity on July 31, 2024 July 31, 2014 1,500 — — 1,440 1,455 PLDT Php2,000M February 25, 2015 BPI Annual amortization rate of 1% on the first year up to the ninth year from initial drawdown date and the balance payable upon maturity on March 24, 2025 March 24, 2015 2,000 — — 1,940 1,960 PLDT Php3,000M June 26, 2015 BPI Annual amortization rate of 1% on the first year up to the ninth year from initial drawdown date and the balance payable upon maturity on June 30, 2025 June 30, 2015 3,000 — — 2,910 2,940 PLDT Php5,000M August 3, 2015 Metrobank Annual amortization rate of 1% on the first year up to the ninth year from initial drawdown date and the balance payable upon maturity on September 23, 2025 Various dates in 2015 5,000 — — 4,850 4,900 24,698 25,207 (*) Amounts are net of unamortized debt discount and/or debt issuance cost. Cancelled Drawn Undrawn Outstanding Amounts Date of Loan Amount Amount Paid in 2018 2017 Loan Amount Agreement Lender(s) Terms Dates Drawn Php Php full on Php Php (in millions) (in millions) Smart Php5,000M August 11, 2015 Metrobank Annual amortization rate of 1% of the principal amount on the first year up to the ninth year commencing on the first year anniversary of the initial drawdown date and the balance payable upon maturity on September 1, 2025 September 1, 2015 5,000 — — 4,833 (*) 4,880 (*) Smart Php5,000M December 11, 2015 BPI Annual amortization rate of 1% of the principal amount on the first year up to the ninth year commencing on the first year anniversary of the initial drawdown date and the balance payable upon maturity on December 21, 2025 December 21, 2015 5,000 — — 4,832 (*) 4,880 (*) Smart Php5,000M December 16, 2015 Metrobank Annual amortization rate of 1% of the principal amount up to the tenth year commencing on the first year anniversary of the initial drawdown and the balance payable upon maturity on June 29, 2026 December 28, 2015 5,000 — — 4,831 (*) 4,879 (*) Smart Php7,000M December 18, 2015 CBC Annual amortization rate of 1% of the principal amount on the third year up to the sixth year from the initial drawdown date, with balance payable upon maturity on December 28, 2022 December 28, 2015 and February 24, 2016 7,000 — — 6,289 (*) 6,983 (*) PLDT Php3,000M July 1, 2016 Metrobank Annual amortization rate of 1% on the first year up to the ninth year from initial drawdown date and the balance payable upon maturity on February 22, 2027 February 20, 2017 3,000 — — 2,957 (*) 2,986 (*) PLDT Php6,000M July 1, 2016 Metrobank Annual amortization rate of 1% on the first year up to the sixth year from initial drawdown date and the balance payable upon maturity on August 30, 2023 August 30, 2016 and November 10, 2016 6,000 — — 5,859 (*) 5,915 (*) PLDT Php8,000M July 14, 2016 Security Bank Semi-annual amortization rate of 1% of the total amount drawn starting from the end of the first year after the initial drawdown date until the ninth year and the balance payable on maturity on March 1, 2027 February 27, 2017 8,000 — — 7,807 (*) 7,963 (*) PLDT Php6,500M September 20, 2016 BPI Annual amortization rate of 1% on the first year up to the sixth year from initial drawdown date and the balance payable upon maturity on November 2, 2023 November 2, 2016 and December 19, 2016 6,500 — — 6,346 (*) 6,407 (*) Smart Php3,000M September 28, 2016 BDO Annual amortization rate of 1% of the principal amount on the first year up to the ninth year commencing on the first year anniversary of the initial drawdown date and the balance payable upon maturity on October 5, 2026 October 5, 2016 3,000 — — 2,940 2,970 Smart Php5,400M September 28, 2016 Union Bank Annual amortization rate of 1% of the principal amount on the first year up to the sixth year commencing on the first year anniversary of the initial drawdown date and the balance payable upon maturity on October 24, 2023 October 24, 2016 and November 21, 2016 5,400 — — 5,281 (*) 5,333 (*) PLDT Php5,300M October 14, 2016 BPI Annual amortization rate of 1% on the first year up to the sixth year from initial drawdown date and the balance payable upon maturity on December 19, 2023 December 19, 2016 5,300 — — 5,175 (*) 5,224 (*) Smart Php2,500M October 27, 2016 CBC Annual amortization rate of 10% of the amount drawn starting on the third year up to the sixth year, with balance payable upon maturity on December 8, 2023 December 8, 2016 2,500 — — 2,500 2,500 59,650 60,920 (*) Amounts are net of unamortized debt discount and/or debt issuance cost. Cancelled Drawn Undrawn Outstanding Amounts Date of Loan Amount Amount Paid in 2018 2017 Loan Amount Agreement Lender(s) Terms Dates Drawn Php Php full on Php Php (in millions) (in millions) Smart Php4,000M (1) October 28, 2016 Security Bank Semi-annual amortization rate of 1% of the total amount drawn from first year up to the ninth year and the balance payable upon maturity on April 5, 2027 April 5, 2017 4,000 — — 1,953 (*) 1,971 (*) Smart Php1,000M December 16, 2016 PNB Annual amortization rate of 1% of the amount drawn starting on the first anniversary of the advance up to the ninth anniversary of the advance and the balance payable upon maturity on December 7, 2027 December 7, 2017 1,000 — — 990 1,000 Smart Php2,000M December 22, 2016 LBP Annual amortization rate of 1% of the amount drawn starting on the first anniversary of the advance up to the ninth anniversary of the advance and the balance payable upon maturity on January 21, 2028 January 22, 2018 2,000 — — 2,000 — PLDT Php3,500M December 23, 2016 LBP Annual amortization rate of 1% on the first year up to the ninth year after the drawdown date and the balance payable upon maturity on April 5, 2027 April 5, 2017 3,500 — — 3,450 (*) 3,484 (*) Smart Php1,500M April 18, 2017 PNB Annual amortization rate of 1% of the amount drawn starting on the first anniversary of the advance up to the sixth year anniversary of the advance and the balance payable upon maturity on January 3, 2025 January 3, 2018 1,500 — — 1,500 — PLDT Php2,000M May 24, 2017 Security Bank Semi-annual amortization rate of Php10 million starting on October 5, 2017 and every six months thereafter with the balance payable upon maturity on April 5, 2027 May 29, 2017 2,000 — — 1,970 1,990 PLDT Php3,500 M July 5, 2017 LBP Annual amortization rate of 1% on the first year up to the ninth year after the drawdown date and the balance payable upon maturity on July 12, 2027 July 10, 2017 3,500 — — 3,465 3,500 PLDT Php1,500M August 29, 2017 LBP Annual amortization rate equivalent to 1% of the total loan payable on the first year up to the ninth year after the drawdown date and the balance payable upon maturity on April 3, 2028 April 2, 2018 1,500 — — 1,500 — Smart Php1,000M September 28, 2017 Union Bank Annual amortization rate of 1% of the amount drawn starting on the first year anniversary of the advance up to the ninth year anniversary of the advance and the balance payable upon maturity on February 21, 2028 February 19, 2018 1,000 — — 1,000 — PLDT Php2,000M April 19, 2018 LBP Annual amortization rate equivalent to 1% of the total loan payable on the first year up to the ninth year after the drawdown date and the balance payable upon maturity on April 25, 2028 April 25, 2018 2,000 — — 2,000 — PLDT Php1,000M April 20, 2018 LBP Annual amortization rate equivalent to 1% of the total loan payable on the first year up to the ninth year after the drawdown date and the balance payable upon maturity on May 3, 2028 May 3, 2018 1,000 — — 1,000 — 20,828 11,945 (*) Amounts are net of unamortized debt discount and/or debt issuance cost. (1) The amount of Php2,000 million was prepaid on May 29, 2017. Cancelled Drawn Undrawn Outstanding Amounts Date of Loan Amount Amount Paid in 2018 2017 Loan Amount Agreement Lender(s) Terms Dates Drawn Php Php full on Php Php (in millions) (in millions) PLDT Php2,000M May 9, 2018 BPI Annual amortization rate equivalent to 1% of the amount drawn starting on the first year anniversary of the advance up to the ninth year anniversary of the advance and the balance payable upon maturity on May 10, 2028 May 10, 2018 2,000 — — 2,000 — PLDT Php3,000M May 9, 2018 BPI Annual amortization rate equivalent to 1% of the amount drawn starting on the first year anniversary of the advance up to the ninth year anniversary of the advance and the balance payable upon maturity on May 10, 2028 May 10, 2018 3,000 — August 10, 2018 — — Smart Php2,000M May 25, 2018 BPI Annual amortization rate equivalent to 1% of the amount drawn starting on the first year anniversary of the advance up to the fifth year anniversary of the advance and the balance payable upon maturity on May 28, 2024 May 28, 2018 2,000 — — 1,986 (*) — Smart Php1,500M June 27, 2018 Development Bank of the Philippines, or DBP Annual amortization rate equivalent to 1% of the amount drawn starting on the third year anniversary of the advance up to the fifth year anniversary of the advance and the balance payable upon maturity on June 28, 2024 June 28, 2018 1,500 — — 1,500 — Smart Php3,000M July 31, 2018 BPI Annual amortization rate equivalent to 1% of the amount drawn starting on the first year anniversary of the advance up to the ninth year anniversary of the advance and the balance payable upon maturity on May 10, 2028 August 10, 2018 3,000 — — 2,978 (*) — Smart Php5,000M January 11, 2019 DBP Annual amortization rate equivalent to 1% of the amount drawn starting on the third year anniversary of the advance up to the ninth year anniversary of the advance and the balance payable upon maturity — — — — — — PLDT Php8,000M February 18, 2019 UBP Annual amortization rate equivalent to 1% of the amount drawn starting on the first year anniversary up to the ninth year anniversary of the initial drawdown date and the balance payable upon maturity — — — — — — Smart Php4,000M February 21, 2019 PNB Annual amortization rate equivalent to 1% of the amount drawn starting on the first year anniversary up to the seventh year anniversary of the initial drawdown date and the balance payable upon maturity — — — — — — 8,464 — 122,470 106,982 (*) Amounts are net of unamortized debt discount and/or debt issuance cost. Compliance with Debt Covenants PLDT’s debt instruments contain restrictive covenants, including covenants that require us to comply with specified financial ratios and other financial tests, such as total debt to EBITDA and interest cover ratio, at relevant measurement dates, principally at the end of each quarterly period. We have complied with all of our maintenance financial ratios as required under our loan covenants and other debt instruments. The principal factors that could negatively affect our ability to comply with these financial ratio covenants and other financial tests are depreciation of the Philippine peso relative to the U.S. dollar, poor operating performance of PLDT and its subsidiaries, impairment or similar charges in respect of investments or other long-lived assets that may be recognized by PLDT and its subsidiaries, and increases in our interest expense. Interest expense may increase as a result of various factors including issuance of new debt, the refinancing of lower cost indebtedness by higher cost indebtedness, depreciation of the Philippine peso relative to the U.S. dollar, the lowering of PLDT’s credit ratings or the credit ratings of the Philippines, increase in reference interest rates, and general market conditions. Of our total consolidated debts, approximately 13% and 20% were denominated in U.S. dollars as at December 31, 2018 and 2017, respectively. Therefore, the financial ratio and other tests are expected to be negatively affected by any weakening of the Philippine peso relative to the U.S. dollar. See Note 27 – Financial Assets and Liabilities – Foreign Currency Exchange Risk PLDT’s debt instruments contain a number of other negative covenants that, subject to certain exceptions and qualifications, restrict PLDT’s ability to take certain actions without lenders’ approval, including: (a) making or permitting any material change in the character of its business; (b) selling, leasing, transferring or disposing of all or substantially all of its assets or any significant portion thereof other than in the ordinary course of business; (c) creating any lien or security interest; (d) permitting set-off against amounts owed to PLDT; and (e) merging or consolidating with any other company. PLDT’s debt instruments also contain customary and other default provisions that permit the lender to accelerate amounts due or terminate their commitments to extend additional funds under the debt instruments. These default provisions include: (a) cross-defaults that will be triggered only if the principal amount of the defaulted indebtedness exceeds a threshold amount specified in these debt instruments; (b) failure by PLDT to meet certain financial ratio covenants referred to above; (c) the occurrence of any material adverse change in circumstances that a lender reasonably believes materially impairs PLDT’s ability to perform its obligations under its debt instrument with the lender; (d) the revocation, termination or amendment of any of the permits or franchises of PLDT in any manner unacceptable to the lender; (e) the nationalization or sustained discontinuance of all or a substantial portion of PLDT’s business; and (f) other typical events of default, including the commencement of bankruptcy, insolvency, liquidation or winding up proceedings by PLDT. Smart’s debt instruments contain certain restrictive covenants that require Smart to comply with specified financial ratios and other financial tests at semi-annual measurement dates. Smart’s loan agreements include compliance with financial tests such as Smart’s consolidated debt to consolidated EBITDA, debt service coverage ratio and interest coverage ratio. The agreements also contain customary and other default provisions that permit the lender to accelerate amounts due under the loans or terminate their commitments to extend additional funds under the loans. These default provisions include: (a) |
Deferred Credits and Other Nonc
Deferred Credits and Other Noncurrent Liabilities | 12 Months Ended |
Dec. 31, 2018 | |
Text Block1 [Abstract] | |
Deferred Credits and Other Noncurrent Liabilities | 2 1 . Deferred Credits and Other Noncurrent Liabilities As at December 31, 2018 and 2017, this account consists of: 2018 2017 (in million pesos) Accrual of capital expenditures under long-term financing (Note 28) 2,965 5,580 Provision for asset retirement obligations 1,656 1,630 Contract liabilities and unearned revenues 532 324 Others 131 168 5,284 7,702 Accrual of capital expenditures under long-term financing represents expenditures related to the expansion and upgrade of our network facilities which are not due to be settled within one year. Such accruals are settled through refinancing from long-term loans obtained from the banks. See Note 20 – Interest-bearing Financial Liabilities The following table summarizes all changes to asset retirement obligations for the years ended December 31, 2018 and 2017: 2018 2017 (in million pesos) Provision for asset retirement obligations at beginning of the year 1,630 1,582 Additional liability recognized during the year 161 82 Accretion expenses 47 39 Settlement of obligations and others (182 ) (73 ) Provision for asset retirement obligations at end of the year 1,656 1,630 |
Accounts Payable
Accounts Payable | 12 Months Ended |
Dec. 31, 2018 | |
Text Block1 [Abstract] | |
Accounts Payable | 2 2 . Accounts Payable As at December 31, 2018 and 2017, this account consists of: 2018 2017 (in million pesos) Suppliers and contractors (Note 27) 69,099 54,196 Carriers and other customers (Note 27) 1,815 2,083 Taxes (Note 26) 1,789 1,952 Related parties (Notes 24 and 27) 684 451 Others 1,223 1,763 74,610 60,445 Accounts payable are non-interest-bearing and are normally settled within 180 days. For terms and conditions pertaining to the payables to related parties, see Note 24 – Related Party Transactions For detailed discussion on the PLDT Group’s liquidity risk management processes, see Note 27 – Financial Assets and Liabilities – Liquidity Risk |
Accrued Expenses and Other Curr
Accrued Expenses and Other Current Liabilities | 12 Months Ended |
Dec. 31, 2018 | |
Text Block1 [Abstract] | |
Accrued Expenses and Other Current Liabilities | 2 3 . Accrued Expenses and Other Current Liabilities As at December 31, 2018 and 2017, this account consists of: 2018 2017 (in million pesos) Accrued utilities and related expenses (Notes 24 and 27) 57,748 53,433 Accrued taxes and related expenses (Note 26) 11,885 11,645 Accrued employee benefits and other provisions (Notes 24, 25 and 27) 7,980 6,599 Liability from redemption of preferred shares (Notes 19 and 27) 7,862 7,870 Contract liabilities and unearned revenues (Note 21) 6,650 8,039 Accrued interests and other related costs (Note 27) 1,347 1,176 Others 2,252 1,978 95,724 90,740 Accrued utilities and related expenses pertain to costs incurred for electricity and water consumption, repairs and maintenance, selling and promotions, professional and other contracted services, rent, insurance and security services. These liabilities are non-interest bearing and are normally settled within a year. Accrued taxes and related expenses pertain to licenses, permits and other related business taxes, which are normally settled within a year. Unearned revenues represent advance payments for leased lines, installation fees, monthly service fees and unused and/or unexpired portion of prepaid loads. Other accrued expenses and other current liabilities are non-interest-bearing and are normally settled within a year. This pertains to other costs incurred for operations-related expenses pending receipt of invoice and statement of accounts from suppliers. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2018 | |
Text Block1 [Abstract] | |
Related Party Transactions | 2 4 . Related Party Transactions Parties are considered to be related if one party has the ability, directly and indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Parties are also considered to be related if they are subject to common control. Related parties may be individuals or corporate entities. Transactions with related parties are on an arm’s length basis, similar to transactions with third parties. Settlement of outstanding balances of related party transactions at year-end are expected to be settled with cash. The PLDT Group has not recorded any impairment of receivables relating to amounts owed by related parties as at December 31, 2018 and 2017. This assessment is undertaken each financial year through examining the financial position of the related party and the market in which the related party operates. The following table provides the summary of outstanding balances as at December 31, 2018 and 2017 transactions that have been entered into with related parties: Classifications Terms Conditions 2018 2017 (in million pesos) Indirect investment in joint ventures through PCEV: Meralco Accrued expenses and other current liabilities (Note 23) Electricity charges – immediately upon receipt of invoice Unsecured 518 653 Accrued expenses and other current liabilities (Note 23) Pole rental – 45 days upon receipt of billing Unsecured 209 5 Meralco Industrial Engineering Services Corporation, or MIESCOR Accrued expenses and other current liabilities (Note 23) 30 days upon receipt of invoice Unsecured 3 — MPIC Financial assets at FVOCI - net of current portion (Note 10) Due on June 2020 and 2021 for 2018 and due on June 2019 to 2021 for 2017; non-interest-bearing Unsecured 2,749 — Current portion of financial assets at fair value through other comprehensive income (Note 10) Due on June 2019 for 2018 and due on June 2018 for 2017; non-interest-bearing Unsecured 1,604 — Trade and other receivables (Note 16) Due on June 2018 for 2017 and June 2017 for 2016; non-interest-bearing Unsecured — 4,091 Advances and other noncurrent assets – net of current portion (Note 10) Due on 2019 to 2021 for 2017 and 2018 to 2020 for 2016; non-interest-bearing Unsecured — 11,461 Transactions with major stockholders, directors and officers: NTT Finance Corporation Interest-bearing financial liabilities (Note 20) Non-amortizing, payable upon maturity on March 30, 2023 and March 27, 2024 Unsecured 2,628 2,498 NTT World Engineering Marine Corporation Accrued expenses and other current liabilities (Note 23) 1st month of each quarter; non-interest-bearing Unsecured 84 33 NTT Communications Accrued expenses and other current liabilities (Note 23) 30 days upon receipt of invoice; non-interest-bearing Unsecured 20 9 NTT Worldwide Telecommunications Corporation Accrued expenses and other current liabilities (Note 23) 30 days upon receipt of invoice; non-interest-bearing Unsecured 3 6 NTT DOCOMO Accrued expenses and other current liabilities (Note 23) 30 days upon receipt of invoice; non-interest-bearing Unsecured 12 11 JGSHI and Subsidiaries Accounts payable and accrued expenses and other current liabilities (Notes 22 and 23) Immediately upon receipt of invoice Unsecured 13 11 Malayan Insurance Co., Inc. or Malayan Prepayments (Note 18) Immediately upon receipt of invoice Unsecured 19 66 Accrued expenses and other current liabilities (Note 23) Immediately upon receipt of invoice Unsecured 6 11 Gotuaco del Rosario and Associates, or Gotuaco Prepayments (Note 18) Immediately upon receipt of invoice Unsecured — 12 Accrued expenses and other current liabilities (Note 23) Immediately upon receipt of invoice Unsecured 5 15 Others: TV5 Network, Inc., or TV5 Prepayments (Note 18) — Unsecured — 277 Cignal Cable Corporation, or Cignal Cable (formerly Dakila Cable TV Corp.) Prepayments (Note 18) — Unsecured 169 — Accrued expenses and other current liabilities (Note 23) Immediately upon receipt of invoice Unsecured — 125 Various Trade and other receivables (Note 16) 30 days upon receipt of invoice Unsecured 2,094 1,867 Accounts payable (Note 22) Immediately upon receipt of billing Unsecured 684 365 Accrued expenses and other current liabilities (Note 23) Immediately upon receipt of billing Unsecured 9 35 The following table provides the summary of transactions that have been entered into with related parties for the years ended December 31, 2018, 2017 and 2016 in relation with the table above. Classifications 2018 2017 2016 (in million pesos) Indirect investment in joint ventures through PCEV: Meralco Repairs and maintenance 2,771 2,397 2,401 Rent 583 298 272 MIESCOR Repairs and maintenance 33 117 144 Construction-in-progress 33 81 67 Transactions with major stockholders, directors and officers: NTT Finance Corporation Financing costs 100 56 9 NTT World Engineering Marine Corporation Repairs and maintenance 17 47 18 NTT Communications Professional and other contracted services 95 88 77 Rent 5 4 7 NTT Worldwide Telecommunications Corporation Selling and promotions 5 8 10 NTT DOCOMO Professional and other contracted services 96 94 95 JGSHI and Subsidiaries Rent 236 118 125 Repairs and maintenance 111 69 57 Communication, training and travel 20 2 2 Miscellaneous expenses 7 — — Malayan Insurance and security services 182 179 242 Gotuaco Insurance and security services 163 126 156 Asia Link B.V., or ALBV Professional and other contracted services 34 190 183 First Pacific Investment Management Limited, or FPIML Professional and other contracted services 135 — — Others: TV5 Selling and promotions 409 149 126 Cignal Cable Cost of services 372 514 116 Various Revenues 2,355 2,059 781 Expenses 1,935 1,223 1,113 a. Agreements between PLDT and certain subsidiaries with Meralco In the ordinary course of business, Meralco provides electricity to PLDT and certain subsidiaries’ offices within its franchise area. Total electricity costs, which were presented as part of repairs and maintenance in our consolidated income statements, amounted to Php2,771 million, Php2,397 million and Php2,401 million for the years ended December 31, 2018, 2017 and 2016, respectively. Under these agreements, the outstanding obligations, which were presented as part of accrued expenses and other current liabilities in our consolidated statements of financial position, amounted to Php518 million and Php653 million as at December 31, 2018 and 2017, respectively. PLDT and Smart have Pole Attachment Contracts with Meralco, wherein Meralco leases its pole spaces to accommodate PLDT’s and Smart’s cable network facilities. Total fees under these contracts, which were presented as part of rent in our consolidated income statements, amounted to Php583 million, Php298 million and Php272 million for the years ended December 31, 2018, 2017 and 2016, respectively. Under these agreements, the outstanding obligations, which were presented as part of accrued expenses and other current liabilities in our consolidated statements of financial position, amounted to Php209 million and Php5 million as at December 31, 2018 and 2017, respectively. b. Agreements between PLDT and MIESCOR PLDT has an existing Outside and Inside Plant Contracted Services Agreement with MIESCOR, a subsidiary of Meralco, which will expire on December 31, 2018. Under the agreement, MIESCOR assumes full and overall responsibility for the implementation and completion of any assigned project such as cable and civil works that are required for the provisioning and restoration of lines and recovery of existing plant. Total fees under this agreement, which were presented as part of repairs and maintenance in our consolidated income statements, amounted to Php96 thousand, Php3 million and Php32 million for the years ended December 31, 2018, 2017 and 2016, respectively. Total amounts capitalized to property and equipment amounted to Php14 million, Php5 million and Php4 million for the years ended December 31, 2018, 2017 and 2016, respectively. Under these agreements, the outstanding obligations, which were presented as part of accrued expenses and other current liabilities in our consolidated statements of financial position, amounted to Php185 thousand and Php165 thousand as at December 31, 2018 and 2017, respectively. PLDT also has an existing Customer Line Installation, Repair, Rehabilitation and Maintenance Activities (formerly One Area One Partner for Outside Plant Subscriber Line Rehabilitation, Repair, Installation and Related Activities) agreement with MIESCOR, which will expire on December 31, 2018. Under the agreement, MIESCOR is responsible for the subscriber main station installation, repairs and maintenance of outside and inside plant network facilities in the areas awarded to them. Total fees under this agreement, which were presented as part of repairs and maintenance in our consolidated income statements, amounted to Php33 million, Php114 million and Php112 million for the years ended December 31, 2018, 2017 and 2016, respectively. Total amounts capitalized to property and equipment amounted to Php19 million, Php76 million and Php63 million for the years ended December 31, 2018, 2017 and 2016, respectively. Under these agreements, the outstanding obligations, which were presented as part of accrued expenses and other current liabilities in our consolidated statements of financial position, amounted to Php3 million and nil as at December 31, 2018 and 2017, respectively. c. Transactions with Major Stockholders, Directors and Officers Material transactions to which PLDT or any of its subsidiaries is a party, in which a director, key officer or owner of more than 10% of the outstanding common stock of PLDT, or any member of the immediate family of a director, key officer or owner of more than 10% of the outstanding common stock of PLDT, had a direct or indirect material interest as at December 31, 2018 and 2017, and for the years ended December 31, 2018, 2017 and 2016 are as follows: 1 . Term Loan Facility Agreements with NTT Finance Corporation On March 22, 2016, PLDT signed a US$25 million term loan facility agreement with NTT Finance Corporation to finance its capital expenditure requirements for network expansion and service improvement and/or refinancing existing indebtedness. The loan is payable upon maturity on March 30, 2023. The loan was fully drawn on March 30, 2016. Total interest under this agreement, which were presented as part of financing costs in our consolidated income statements, amounted to Php50 million, Php28 million and Php9.5 million for the years ended December 31, 2018, 2017 and 2016, respectively. The amounts of US$25 million, or Php1,314 million, and US$25 million, or Php1,249 million, remained outstanding as at December 31, 2018 and 2017, respectively. Another US$25 million term loan facility was signed with NTT Finance Corporation on January 31, 2017 to finance its capital expenditure requirements for network expansion and service improvement and/or refinancing existing indebtedness. The loan is payable upon maturity on March 27, 2024. The loan was fully drawn on March 30, 2017. Total interest under this agreement, which were presented as part of financing costs in our consolidated income statements, amounted to Php50 million and Php28 million for the years ended December 31, 2018 and 2017, respectively. The amount of US$25 million, or Php1,314 million, and US$25 million, or Php1,249 million, remained outstanding as at December 31, 2018 and 2017, respectively. 2. Various Agreements with NTT Communications and/or its Affiliates PLDT is a party to the following agreements with NTT Communications and/or its affiliates: • Service Agreement. On February 1, 2008, PLDT entered into an agreement with NTT World Engineering Marine Corporation wherein the latter provides offshore submarine cable repair and other allied services for the maintenance of PLDT’s domestic fiber optic network submerged plant. The fees under this agreement, which were presented as part of repairs and maintenance in our consolidated income statements, amounted to Php17 million, Php47 million and Php18 million for the years ended December 31, 2018, 2017 and 2016, respectively. Under this agreement, the outstanding obligations of PLDT, which were presented as part of accrued expenses and other current liabilities in our consolidated statements of financial position, amounted to Php84 million and Php33 million as at December 31, 2018 and 2017, respectively; • Advisory Services Agreement . On March 24, 2000, PLDT entered into an agreement with NTT Communications, as amended on March 31, 2003, March 31, 2005 and June 16, 2006, under which NTT Communications provides PLDT with technical, marketing and other consulting services for various business areas of PLDT starting April 1, 2000. The fees under this agreement, which were presented as part of professional and other contracted services in our consolidated income statements, amounted to Php95 million, Php88 million and Php77 million for the years ended December 31, 2018, 2017 and 2016, respectively. Under this agreement, the outstanding obligations of PLDT, which were presented as part of accrued expenses and other current liabilities in our consolidated statements of financial position, amounted to Php16 million and Php7 million as at December 31, 2018 and 2017, respectively; • Conventional International Telecommunications Services Agreement. On March 24, 2000, PLDT entered into an agreement with NTT Communications under which PLDT and NTT Communications agreed to cooperative arrangements for conventional international telecommunications services to enhance their respective international businesses. The fees under this agreement, which were presented as part of rent in our consolidated income statements, amounted to Php5 million, Php4 million and Php7 million for the years ended December 31, 2018, 2017 and 2016, respectively. Under this agreement, the outstanding obligations of PLDT, which were presented as part of accrued expenses and other current liabilities in our consolidated statements of financial position, amounted to Php4 million and Php2 million as at December 31, 2018 and 2017, respectively; and • Arcstar Licensing Agreement and Arcstar Service Provider Agreement . On March 24, 2000, PLDT entered into an agreement with NTT Worldwide Telecommunications Corporation under which PLDT markets, and manages data and other services under NTT Communications’ “Arcstar” brand to its corporate customers in the Philippines. PLDT also entered into a Trade Name and Trademark Agreement with NTT Communications under which PLDT has been given the right to use the trade name “Arcstar” and its related trademark, logo and symbols, solely for the purpose of PLDT’s marketing, promotional and sales activities for the Arcstar services within the Philippines. The fees under this agreement, which were presented as part of selling and promotions in our consolidated income statements, amounted to Php5 million, Php8 million and Php10 million for the years ended December 31, 2018, 2017 and 2016, respectively. Under this agreement, the outstanding obligations of PLDT, which were presented as part of accrued expenses and other current liabilities in our consolidated statements of financial position, amounted to Php3 million and Php6 million as at December 31, 2018 and 2017, respectively. 3. Advisory Services Agreement between NTT DOCOMO and PLDT On June 5, 2006, in accordance with the Cooperation Agreement dated January 31, 2006, an Advisory Services Agreement was entered into by NTT DOCOMO and PLDT. Pursuant to the Advisory Services Agreement, NTT DOCOMO will provide the services of certain key personnel in connection with certain aspects of the business of PLDT and Smart. Also, this agreement governs the terms and conditions of the appointments of such key personnel and the corresponding fees related thereto. Total fees under this agreement, which were presented as part of professional and other contracted services in our consolidated income statements, amounted to Php96 million, Php94 million and Php95 million for the years ended December 31, 2018, 2017 and 2016, respectively. Under this agreement, the outstanding obligations of PLDT, which were presented as part of accrued expenses and other current liabilities in our consolidated statements of financial position, amounted to Php12 million and Php11 million as at December 31, 2018 and 2017, respectively. 4 . Transactions with JGSHI and Subsidiaries PLDT and certain of its subsidiaries have existing agreements with Universal Robina Corporation and Robinsons Land Corporation for office and business office rental. Total fees under these contracts, which were presented as part of rent in our consolidated income statements, amounted to Php236 million, Php118 million and Php125 million for the years ended December 31, 2018, 2017 and 2016, respectively. Under these agreements, the outstanding obligations, which were presented as part of accounts payable and accrued expenses and other current liabilities in our consolidated statements of financial position, amounted to Php10 million and Php5 million as at December 31, 2018 and 2017, respectively. There were also other transactions such as communication, training and travel, repairs and maintenance and miscellaneous expenses in our consolidated income statements, amounting to Php138 million, Php71 million and Php59 million for the years ended December 31, 2018, 2017 and 2016, respectively. Under these agreements, the outstanding obligations for these transactions, which were presented as part of accrued expenses and other current liabilities in our consolidated statements of financial position, amounted to Php3 million and Php6 million as at December 31, 2018 and 2017, respectively. 5 . Transactions with Malayan PLDT and certain of its subsidiaries have insurance policies with Malayan covering directors, officers, liability to employees and material damages for buildings, building improvements, equipment and motor vehicles. The premiums are directly paid to Malayan. Total fees under these contracts, which were presented as part of insurance and security services in our consolidated income statements, amounted to Php182 million, Php179 million and Php242 million for the years ended December 31, 2018, 2017 and 2016, respectively. Under this agreement, outstanding prepayments, which were presented as part of prepayments in our consolidated statements of financial position, amounted to Php19 million and Php66 million as at December 31, 2018 and 2017, respectively. Under this agreement, the outstanding obligations, which were presented as part of accrued expenses and other current liabilities in our consolidated statements of financial position, amounted to Php6 million and Php11 million as at December 31, 2018 and 2017, respectively. 6. Transactions with Gotuaco Gotuaco acts as the broker for certain insurance companies to cover certain insurable properties of the PLDT Group. Insurance premiums are remitted to Gotuaco and the broker’s fees are settled between Gotuaco and the insurance companies. Total fees under these contracts, which were presented as part of insurance and security services in our consolidated income statement, amounted to Php163 million, Php126 million and Php156 million for the years ended December 31, 2018, 2017 and 2016, respectively. Under this agreement, the outstanding prepayments, which were presented as part of prepayments in our consolidated statements of financial position, amounted to nil and Php12 million as at December 31, 2018 and 2017, respectively. Under this agreement, the outstanding obligations, which were presented as part of accrued expenses and other current liabilities in our consolidated statements of financial position, amounted to Php5 million and Php15 million as at December 31, 2018 and 2017, respectively. 7. Agreement between Smart and ALBV Smart had a Technical Assistance Agreement with ALBV, a subsidiary of the First Pacific Group and its Philippine affiliates. ALBV provides technical support services and assistance in the operations and maintenance of Smart’s cellular business which provides for payment of technical service fees equivalent to a rate of 0.5% of the consolidated net revenues of Smart. Effective February 1, 2014, the parties agreed to reduce the technical service fee rate from 0.5% to 0.4% of the consolidated net revenues of Smart. The agreement expired on February 23, 2018. Total service fees charged to operations under this agreement, which were presented as part of professional and other contracted services in our consolidated income statements, amounted to Php34 million, Php190 million and Php183 million for the years ended December 31, 2018, 2017 and 2016, respectively. There were no outstanding obligations under this agreement as at December 31, 2018 and 2017. 8. Agreement between Smart and FPIML On March 1, 2018, Smart entered into an Advisory Services Agreement with FPIML, a subsidiary of the First Pacific Group and its Philippine affiliates. The agreement shall be effective for a period of one-year subject to a 12-month automatic renewal unless either party notifies the other party of its intent not to renew the agreement. FPIML provides advisory and related services in connection with the operation of Smart’s business of providing mobile communications services, high-speed internet connectivity, and access to digital services and content. The agreement provides that Smart shall pay monthly service fee of $250 thousand and any additional fee shall be mutually agreed upon by both parties on a monthly basis. Total professional fees under this agreement, which were presented as part of professional and other contracted services in our consolidated income statements, amounted to Php135 million for the year ended December 31, 2018. Outstanding payable under this agreement amounted to nil as at December 31, 2018. 9. Cooperation Agreement with First Pacific and certain affiliates, or the FP Parties, NTT Communications and NTT DOCOMO In connection with the transfer by NTT Communications of approximately 12.6 million shares of PLDT’s common stock to NTT DOCOMO pursuant to a Stock SPA dated January 31, 2006 between NTT Communications and NTT DOCOMO, the FP Parties, NTT Communications and NTT DOCOMO entered into a Cooperation Agreement, dated January 31, 2006. Under the Cooperation Agreement, the relevant parties extended certain rights of NTT Communications under the Stock Purchase and Strategic Investment Agreement dated September 28, 1999, as amended, and the Shareholders Agreement dated March 24, 2000, to NTT DOCOMO, including: • certain contractual veto rights over a number of major decisions or transactions; and • rights relating to the representation on the Board of Directors of PLDT and Smart, respectively, and any committees thereof. Moreover, key provisions of the Cooperation Agreement pertain to, among other things: • Restriction on Ownership of Shares of PLDT by NTT Communications and NTT DOCOMO . Each of NTT Communications and NTT DOCOMO has agreed not to beneficially own, directly or indirectly, in the aggregate with their respective subsidiaries and affiliates, more than 21% of the issued and outstanding shares of PLDT’s common stock. If such event does occur, the FP Parties, as long as they own in the aggregate not less than 21% of the issued and outstanding shares of PLDT’s common stock, have the right to terminate their respective rights and obligations under the Cooperation Agreement, the Shareholders Agreement and the Stock Purchase and Strategic Investment Agreement. • Limitation on Competition . NTT Communications, NTT DOCOMO and their respective subsidiaries are prohibited from investing in excess of certain thresholds in businesses competing with PLDT in respect of customers principally located in the Philippines and from using their assets in the Philippines in such businesses. Moreover, if PLDT, Smart or any of Smart’s subsidiaries intend to enter into any contractual arrangement relating to certain competing businesses, PLDT is required to provide, or to use reasonable efforts to procure that Smart or any of Smart’s subsidiaries provide, NTT Communications and NTT DOCOMO with the same opportunity to enter into such agreement with PLDT or Smart or any of Smart’s subsidiaries, as the case may be. • Business Cooperation . PLDT and NTT DOCOMO agreed in principle to collaborate with each other on the business development, roll-out and use of a Wireless-Code Division Multiple Access mobile communication network. In addition, PLDT agreed, to the extent of the power conferred by its direct or indirect shareholding in Smart, to procure that Smart will: (i) become a member of a strategic alliance group for international roaming and corporate sales and services; and (ii) enter into a business relationship concerning preferred roaming and inter-operator tariff discounts with NTT DOCOMO. • Additional Rights of NTT DOCOMO . Pursuant to amendments effected by the Cooperation Agreement to the Stock Purchase and Strategic Investment Agreement and the Shareholders Agreement, upon NTT Communications and NTT DOCOMO and their respective subsidiaries owning in the aggregate 20% or more of PLDT’s shares of common stock and for as long as they continue to own in the aggregate at least 17.5% of PLDT’s shares of common stock then outstanding, NTT DOCOMO has additional rights under the Stock Purchase and Strategic Investment Agreement and Shareholders Agreement, including that: 1. NTT DOCOMO is entitled to nominate one additional NTT DOCOMO nominee to the Board of Directors of each PLDT and Smart; 2. PLDT must consult NTT DOCOMO no later than 30 days prior to the first submission to the board of PLDT or certain of its committees of any proposal of investment in an entity that would primarily engage in a business that would be in direct competition or substantially the same business opportunities, customer base, products or services with business carried on by NTT DOCOMO, or which NTT DOCOMO has announced publicly an intention to carry on; 3. PLDT must procure that Smart does not cease to carry on its business, dispose of all of its assets, issue common shares, merge or consolidate, or effect winding up or liquidation without PLDT first consulting with NTT DOCOMO no later than 30 days prior to the first submission to the board of PLDT or Smart, or certain of its committees; and 4. PLDT must first consult with NTT DOCOMO no later than 30 days prior to the first submission to the board of PLDT or certain of its committees for the approval of any transfer by any member of the PLDT Group of Smart common capital stock to any person who is not a member of the PLDT Group. NTT Communications and NTT DOCOMO together beneficially owned approximately 20% of PLDT’s outstanding common stock as at December 31, 2018 and 2017. • Change in Control . Each of NTT Communications, NTT DOCOMO and the FP Parties agreed that to the extent permissible under applicable laws and regulations of the Philippines and other jurisdictions, subject to certain conditions, to cast its vote as a shareholder in support of any resolution proposed by the Board of Directors of PLDT for the purpose of safeguarding PLDT from any Hostile Transferee. A is defined under the Cooperation Agreement to mean any person (other than NTT Communications, NTT DOCOMO, First Pacific or any of their respective affiliates) determined to be so by the PLDT Board of Directors and includes, without limitation, a person who announces an intention to acquire, seeking to acquire or acquires 30% or more of PLDT common shares then issued and outstanding from time to time or having (by itself or together with itself) acquired 30% or more of the PLDT common shares who announces an intention to acquire, seeking to acquire or acquires a further 2% of such PLDT common shares: (a) at a price per share which is less than the fair market value as determined by the Board of Directors of PLDT, as advised by a professional financial advisor; (b) which is subject to conditions which are subjective or which could not be reasonably satisfied; (c) without making an offer for all PLDT common shares not held by it and/or its affiliates and/or persons who, pursuant to an agreement or understanding (whether formal or informal), actively cooperate to obtain or consolidate control over PLDT; (d) whose offer for the PLDT common shares is unlikely to succeed; or (e) whose intention is otherwise not ; provided that, no person will be deemed a Hostile Transferee unless prior to making such determination, the Board of Directors of PLDT has used reasonable efforts to discuss with NTT Communications and NTT DOCOMO in good faith whether such person should be considered a Hostile Transferee. • Termination. If NTT Communications, NTT DOCOMO or their respective subsidiaries cease to own, in the aggregate, full legal and beneficial title to at least 10% of the shares of PLDT’s common stock then issued and outstanding, their respective rights and obligations under the Cooperation Agreement and the Shareholders Agreement will terminate and the Strategic Arrangements (as defined in the Stock Purchase and Strategic Investment Agreement) will terminate. If the FP Parties and their respective subsidiaries cease to have, directly or indirectly, effective voting power in respect of shares of PLDT’s common stock representing at least 18.5% of the shares of PLDT’s common stock then issued and outstanding, their respective rights and obligations under the Cooperation Agreement, the Stock Purchase and Strategic Investment Agreement, and the Shareholders Agreement will terminate. d. Others 1. Agreement of PLDT and Smart with TV5 In 2010, PLDT and Smart entered into advertising placement agreements with TV5, a subsidiary of MediaQuest, which is a wholly-owned investee company of PLDT Beneficial Trust Fund for the airing and telecast of advertisements and commercials of PLDT and Smart on TV5’s television network for a period of five years. The costs of telecast of each advertisement shall be applied and deducted from the placement amount only after the relevant advertisement or commercial is actually aired on TV5’s television network. In June 2014, Smart and TV5 agreed to amend the liquidation schedule under the original advertising placement agreement by extending the term of expiry from 2015 to 2018. Total selling and promotions under the advertising placement agreements amounted to Php409 million, Php149 million and Php126 million for the years ended December 31, 2018, 2017 and 2016, respectively. Total prepayment under the advertising placement agreements amounted to nil and Php277 million as at December 31, 2018 and 2017, respectively. 2. Agreement of PLDT, Smart and DMPI with Cignal Cable In May 2015, PLDT, Smart and DMPI entered into a four-year agreement with Cignal Cable commencing with the launch of the OTT video-on-demand service, or iflix iflix iflix iflix 3. Telecommunications services provided by PLDT and certain of its subsidiaries and other transactions with various related parties PLDT and certain of its subsidiaries provide telephone, data communication and other services to various related parties. The revenues under these services amounted to Php2,355 million, Php2,059 million and Php781 million for the years ended December 31, 2018, 2017 and 2016, respectively. The expenses under these services amounted to Php1,935 million, Php1,223 million and Php1,113 million for the years ended December 31, 2018, 2017 and 2016, respectively. The outstanding receivables of PLDT and certain of its subsidiaries, which were presented as part of trade and other receivables in our consolidated statements of financial position amounted to Php2,094 million and Php1,867 million as at December 31, 2018 and 2017, respectively. Under these agreements, the outstanding obligations, which were presented as part of accounts payable in our consolidated statements of financial position amounted to Php684 million and Php365 million as at December 31, 2018 and 2017, respectively, and accrued expenses and other current liabilities amounted to Php9 million and Php35 million as at December 31, 2018 and 2017, respectively. See Note 10 – Investments in Associates and Joint Ventures – Investment in MediaQuest PDRs Sale of PCEV’s Beacon Preferred Shares to MPIC Compensation of Key Officers of the PLDT Group The compensation of key officers of the PLDT Group by benefit type for the years ended December 31, 2018, 2017 and 2016 are |
Employee Benefits
Employee Benefits | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Defined Benefit Plans [Abstract] | |
Employee Benefits | 25. Employee Benefits Pension Defined Benefit Pension Plans PLDT has defined benefit pension plans, operating under the legal name “The Board of Trustees for the account of the Beneficial Trust Fund created pursuant to the Benefit Plan of PLDT Co.” and covering all of our permanent and regular employees. Certain subsidiaries of PLDT have not yet drawn up a specific retirement plan for its permanent or regular employees. For the purpose of complying with Revised IAS 19, pension benefit expense has been actuarially computed based on defined benefit plan. PLDT’s actuarial valuation is performed every year-end. Based on the latest actuarial valuation, the actual present value of accrued (prepaid) benefit costs, net periodic benefit costs and average assumptions used in developing the valuation as at and for the years ended December 31, 2018, 2017 and 2016 are as follows: 2018 2017 2016 (in million pesos) Changes in the present value of defined benefit obligations: Present value of defined benefit obligations at beginning of the year 21,503 23,142 21,602 Interest costs on benefit obligation 1,227 1,180 1,071 Service costs 1,063 1,158 1,066 Actual benefits paid/settlements (887 ) (2,723 ) (241 ) Actuarial losses – experience 419 423 369 Actuarial gains – economic assumptions (2,611 ) (1,277 ) (694 ) Curtailments and others (Note 5) (31 ) (400 ) (31 ) Present value of defined benefit obligations at end of the year 20,683 21,503 23,142 Changes in fair value of plan assets: Fair value of plan assets at beginning of the year 12,534 11,960 11,439 Actual contributions 5,110 5,122 5,708 Interest income on plan assets 770 641 600 Actual benefits paid/settlements (887 ) (2,723 ) (241 ) Return on plan assets (excluding amount included in net interest) (3,988 ) (2,466 ) (5,546 ) Fair value of plan assets at end of the year 13,539 12,534 11,960 Unfunded status – net (7,144 ) (8,969 ) (11,182 ) Accrued benefit costs 7,159 8,984 11,197 Prepaid benefit costs (Note 18) 15 15 15 Components of net periodic benefit costs: Service costs 1,063 1,158 1,066 Interest costs – net 457 539 471 Curtailment/settlement losses and other adjustments 21 (341 ) — 1,541 1,356 1,537 Actual net losses on plan assets amounted to Php3,218 million, Php1,825 million and Php4,946 million for the years ended December 31, 2018, 2017 and 2016, respectively. Based on the latest actuarial valuation, our expected contribution to the defined benefit plan in 2019 will amount to Php1,217 million. The following table sets forth the expected future settlements by the Plan of maturing defined benefit obligation as at December 31, 2018: (in million pesos) 2019 368 2020 396 2021 566 2022 768 2023 1,102 2024 to 2064 105,007 The average duration of the defined benefit obligation at the end of the reporting period is 6 to 19 years. The weighted average assumptions used to determine pension benefits for the years ended December 31, 2018, 2017 and 2016 are as follows: 2018 2017 2016 Rate of increase in compensation 6.0 % 6.0 % 6.0 % Discount rate 7.3 % 5.8 % 5.3 % We have adopted mortality rates in accordance with the 1994 Group Annuity Mortality Table developed by the U.S. Society of Actuaries, which provides separate rates for males and females. The sensitivity analysis below has been determined based on reasonably possible changes of each significant assumption on the defined benefit obligation as at December 31, 2018 and 2017, assuming if all other assumptions were held constant: Increase (Decrease) (in million pesos) Discount rate 1% (664 ) (1%) 1,011 Future salary increases 1% 1,015 (1%) (679 ) PLDT’s Retirement Plan The Board of Trustees, which manages the beneficial trust fund, is composed of: (i) a member of the Board of Directors of PLDT, who is not a beneficiary of the Plan; (ii) a member of the Board of Directors or a senior officer of PLDT, who is a beneficiary of the Plan; (iii) a senior member of the executive staff of PLDT; and (iv) two persons who are not executives nor employees of PLDT. Benefits are payable in the event of termination of employment due to: (i) compulsory, optional, or deferred retirement; (ii) death while in active service; (iii) physical disability; (iv) voluntary resignation; or (v) involuntary separation from service. For a plan member with less than 15 years of credited services, retirement benefit is equal to 100% of final compensation for every year of service. For those with at least 15 years of service, retirement benefit is equal to 125% of final compensation for every year of service, with such percentage to be increased by an additional 5% for each completed year of service in excess of 15 years, but not to exceed a maximum of 200%. In case of voluntary resignation after attainment of age 40 and completion of at least 15 years of credited service, benefit is equal to a percentage of his vested retirement benefit, in accordance with percentages prescribed in the retirement plan. The Board of Trustees of the beneficial trust fund uses an investment approach with the objective of maximizing the long-term expected return of plan assets. The majority of the Plan’s investment portfolio consists of listed and unlisted equity securities while the remaining portion consists of passive investments like temporary cash investments and fixed income investments. The plan assets are primarily exposed to financial risks such as liquidity risk and price risk. Liquidity risk pertains to the plan’s ability to meet its obligation to the employees upon retirement. To effectively manage liquidity risk, the Board of Trustees invests at least the equivalent amount of actuarially computed expected compulsory retirement benefit payments for the period to liquid/semi-liquid assets such as treasury notes, treasury bills, savings and time deposits with commercial banks. Price risk pertains mainly to fluctuations in market prices of equity securities listed in the PSE. In order to effectively manage price risk, the Board of Trustees continuously assesses these risks by closely monitoring the market value of the securities and implementing prudent investment strategies. The following table sets forth the fair values, which are equal to the carrying values, of PLDT’s plan assets recognized as at December 31, 2018 and 2017: 2018 2017 (in million pesos) Noncurrent Financial Assets Investments in: Unlisted equity investments 10,707 9,372 Shares of stock 2,066 2,510 Corporate bonds 133 111 Government securities 31 22 Mutual funds 4 30 Investment properties — 4 Total noncurrent financial assets 12,941 12,049 Current Financial Assets Cash and cash equivalents 499 396 Receivables 8 4 Total current financial assets 507 400 Total PLDT’s Plan Assets 13,448 12,449 Subsidiaries Plan Assets 91 85 Total Plan Assets of Defined Benefit Pension Plans 13,539 12,534 Investment in shares of stocks is valued using the latest bid price at the reporting date. Investments in corporate bonds, mutual funds and government securities are valued using the market values at reporting date. Investment properties are valued using the latest available appraised values. Unlisted Equity Investments As at December 31, 2018 and 2017, this account consists of: 2018 2017 2018 2017 % of Ownership (in million pesos) MediaQuest 100 % 100 % 10,022 8,696 Tahanan Mutual Building and Loan Association, Inc., or TMBLA, (net of subscriptions payable of Php32 million) 100 % 100 % 474 435 BTFHI 100 % 100 % 211 201 Superior Multi Parañaque Homes, Inc., or SMPHI 100 % 100 % — 39 Bancholders, Inc., or Bancholders 100 % 100 % — 1 10,707 9,372 Investments in MediaQuest MediaQuest was registered with the Philippine SEC on June 29, 1999 primarily to purchase, subscribe for or otherwise acquire and own, hold, use, manage, sell, assign, transfer, mortgage, pledge, exchange, or otherwise dispose of real and personal property or every kind and description, and to pay thereof in whole or in part, in cash or by exchanging, stocks, bonds and other evidences of indebtedness or securities of this any other corporation. Its investments include common shares of stocks of various communication, broadcasting and media entities. Investments in MediaQuest are carried at fair value. The VIU calculations were derived from cash flow projections over a period of three to five years based on the 2019 financial budgets approved by the MediaQuest’s Board of Directors and calculated terminal value. On May 8, 2012, the Board of Trustees of the PLDT Beneficial Trust Fund approved the issuance by MediaQuest of PDRs amounting to Php6 billion. The underlying shares of these PDRs are the shares of stocks of Cignal TV held by MediaQuest through Satventures (Cignal TV PDRs). On the same date, MediaQuest Board of Directors approved the investment in Cignal TV PDRs by ePLDT, which gave ePLDT a 40% economic interest in Cignal TV. In June 2012, MediaQuest received a deposit for future PDRs subscription of Php4 billion from ePLDT. Additional deposits of Php1 billion each were received on July 6, 2012 and August 9, 2012. On January 25, 2013, the Board of Trustees of the PLDT Beneficial Trust Fund and the MediaQuest Board of Directors approved the issuance of additional MediaQuest PDRs amounting to Php3.6 billion. The underlying shares of these additional PDRs are the shares of Satventures held by MediaQuest (Satventures PDRs), the holder of which will have a 40% economic interest in Satventures. Satventures is a wholly-owned subsidiary of MediaQuest and the investment vehicle for Cignal TV. From March to August 2013, MediaQuest received from ePLDT an amount aggregating to Php3.6 billion representing deposits for future PDRs subscription. The Satventures PDRs and Cignal TV PDRs were subsequently issued on September 27, 2013, providing ePLDT an effective 64% economic interest in Cignal TV. Also, on January 25, 2013, the Board of Trustees of the PLDT Beneficial Trust Fund and the MediaQuest Board of Directors approved the issuance of additional MediaQuest PDRs amounting to Php1.95 billion. The underlying shares of these additional PDRs are the shares of stocks of Hastings held by MediaQuest (Hastings PDRs). Hastings is a wholly-owned subsidiary of MediaQuest, which holds all the print-related investments of MediaQuest, including equity interests in the three leading newspapers: The Philippine Star, Philippine Daily Inquirer, and Business World. From June 2013 to October 2013, MediaQuest received from ePLDT an amount aggregating to Php1.95 billion representing deposits for future PDRs subscription. On February 19, 2014, ePLDT’s Board of Directors approved an additional Php500 million investment in Hastings PDRs. On March 11, 2014, MediaQuest received from ePLDT an amount aggregating to Php300 million representing deposits for future PDRs subscription. As at December 31, 2014, total deposit for PDRs subscription amounted to Php2,250 million. On May 21, 2015, ePLDT’s Board of Directors approved an additional Php800 million investment in Hastings PDRs and settlement of the Php200 million balance of the Php500 million Hastings PDR investment in 2014. Subsequently, on May 30, 2015, the Board of Trustees of the PLDT Beneficial Trust Fund and the Board of Directors of MediaQuest approved the issuance of Php3,250 million Hastings PDRs. This provided ePLDT with 70% economic interest in Hastings. See Note 10 – Investments in Associates and Joint Ventures – Investment in MediaQuest PDRs In 2016 and 2017, the Board of Trustees of the PLDT Beneficial Trust Fund approved additional investment in MediaQuest amounting to Php5,500 million and Php2,500 million, respectively, to fund MediaQuest’s investment requirements. The full amount was fully drawn by MediaQuest during 2016 and 2017. In 2018, the Board of Trustees of the PLDT Beneficial Trust Fund approved the additional investment in MediaQuest amounting to Php2,700 million to fund MediaQuest’s investment requirements. The full amount was fully drawn by MediaQuest during 2018. Loss on changes in fair value of the investments for the years ended December 31, 2018 and 2017 amounting to Php3,038 million and Php2,071 million, respectively, are recognized in the statements of changes in net assets available for plan benefits under “Net fair value gain (loss) on investments.” Other key assumptions used in the cash flow projections include revenue growth rate, direct costs and capital expenditures. The pre-tax discount rates applied to cash flow projections range from 11.23% to 13.10%. Cash flows beyond the five-year period are determined using 0% to 5.8% growth rates. Investment in TMBLA TMBLA was incorporated for the primary purpose of accumulating the savings of its stockholders and lending funds to them for housing programs. The beneficial trust fund has a direct subscription in shares of stocks of TMBLA in the amount of Php112 million. The related unpaid subscription of Php32 million is included in unlisted equity investments. The cumulative change in the fair market values of this investment amounted to Php394 million and Php355 million as at December 31, 2018 and 2017, respectively. Investment in BTFHI BTFHI was incorporated for the primary purpose of acquiring voting preferred shares in PLDT and while the owner, holder of possessor thereof, to exercise all the rights, powers, and privileges of ownership or any other interest therein. On October 26, 2012, BTFHI subscribed to a total of 150 million shares of Voting Preferred Stock of PLDT at a subscription price of Php1.00 per share for a total subscription price of Php150 million. Total cash dividend income amounted to Php10 million for each of the years ended December 31, 2018 and 2017. Dividend receivables amounted to Php2 million each as at December 31, 2018 and 2017. Investment in SMPHI SMPHI was incorporated primarily to engage in the real estate business. As at December 31, 2017, its assets consist mainly of investment in land. SMPHI received short-term, non-interest-bearing advances from the beneficial trust fund mainly to finance expenses to maintain its investment property. On May 25, 2018, the shares of stocks of SMPHI was sold to a third party for Php142 million. Investment in Bancholders Bancholders was incorporated primarily to purchase, own, invest in or acquire shares of stock, bonds, bills, warrants and other negotiable instruments, securities or evidences of indebtedness of any other corporation and to own, hold and dispose the same, without engaging in the business of or acting as an investment company or as securities broker or dealer. The cumulative change in the fair market value of this investment amounted to losses of Php93 million as at December 31, 2017. On April 21, 2017, the Board of Directors of Bancholders approved the amendment of its Articles of Incorporation, shortening its corporate term, to end on June 30, 2018. This amendment was subsequently approved by the Philippine SEC on July 11, 2017. As at December 31, 2018, the investment account has been closed to receivables pending the completion of Bancholders’s liquidation procedure. Shares of Stocks As at December 31, 2018 and 2017, this account consists of: 2018 2017 (in million pesos) Common shares PSE 1,185 1,555 PLDT 30 39 Others 491 556 Preferred shares 360 360 2,066 2,510 Dividends earned on PLDT common shares amounted to Php2 million, Php2 million and Php3 million for the years ended December 31, 2018, 2017 and 2016, respectively. Preferred shares represent 300 million unlisted preferred shares of PLDT at Php10 par value, net of subscription payable of Php2,640 million as at December 31, 2018 and 2017, respectively. These shares, which bear dividend of 13.5% per annum based on the paid-up subscription price, are cumulative, non-convertible and redeemable at par value at the option of PLDT. Dividends earned on this investment amounted to Php49 million for each of the years ended December 31, 2018, 2017 and 2016. Corporate Bonds Investment in corporate bonds includes various long-term peso and dollar denominated bonds with maturities ranging from August 2019 to June 2027 and fixed interest rates from 4.13% to 7.06% per annum. Total investment in corporate bonds amounted to Php133 million and Php111 million as at December 31, 2018 and 2017, respectively. Government Securities Investment in government securities includes Fixed Rate Treasury Notes bearing interest rate of 5.88% per annum and zero rated US Treasury Bills. These securities are fully guaranteed by the governments of the Republic of the Philippines and United States of America. Total investment in government securities amounted to Php31 million and Php22 million as at December 31, 2018 and 2017, respectively. Mutual Funds Investment in mutual funds includes a local equity funds, which aims to out-perform benchmarks in various indices as part of its investment strategy. Total investment in mutual funds amounted to Php4 million and Php30 million as at December 31, 2018 and 2017, respectively. Investment Properties Investment properties include one condominium unit (a bare 58 square meter unit) located in Ayala-FGU Building along Alabang-Zapote Road in Muntinlupa City. Total fair value of investment properties amounted to Php4 million as at December 31, 2017. The unit was disposed of this year by fund manager, BPI, as part of its discretionary investment authority. The asset allocation of the Plan is set and reviewed from time to time by the Plan Trustees taking into account the membership profile, the liquidity requirements of the Plan and risk appetite of the Plan sponsor. This considers the expected benefit cash flows to be matched with asset durations. The allocation of the fair value of the assets for the PLDT pension plan as at December 31, 2018 and 2017 are as follows: 2018 2017 Investments in listed and unlisted equity securities 95 % 95 % Temporary cash investments 4 % 3 % Debt and fixed income securities 1 % 1 % Mutual funds — 1 % 100 % 100 % Defined Contribution Plans Smart’s and certain of its subsidiaries’ contributions to the plan are made based on the employees’ years of tenure and range from 5% to 10% of the employee’s monthly salary. Additionally, an employee has an option to make a personal contribution to the fund, at an amount not exceeding 10% of his monthly salary. The employer then provides an additional contribution to the fund ranging from 10% to 50% of the employee’s contribution based on the employee’s years of tenure. Although the plan has a defined contribution format, Smart and certain of its subsidiaries regularly monitor compliance with R.A. 7641. As at December 31, 2018 and 2017, Smart and certain of its subsidiaries were in compliance with the requirements of R.A. 7641. Smart’s and certain of its subsidiaries’ actuarial valuation is performed every year-end. Based on the latest actuarial valuation, the actual present value of prepaid benefit costs, net periodic benefit costs and average assumptions used in developing the valuation as at and for the years ended December 31, 2018, 2017 and 2016 are as follows: 2018 2017 2016 (in million pesos) Changes in the present value of defined benefit obligations: Present value of defined benefit obligations at beginning of the year 2,490 2,177 2,116 Service costs 314 269 284 Interest costs on benefit obligation — 113 94 Actuarial losses – economic assumptions — 29 1 Actuarial gains – experience — (6 ) (77 ) Actual benefits paid/settlements — (92 ) (226 ) Curtailment and others — — (15 ) Present value of defined benefit obligations at end of the year 2,804 2,490 2,177 Changes in fair value of plan assets: Fair value of plan assets at beginning of the year 2,862 2,414 2,388 Actual contributions 297 335 201 Interest income on plan assets — 131 125 Return on plan assets (excluding amount included in net interest) — 74 (74 ) Actual benefits paid/settlements — (92 ) (226 ) Fair value of plan assets at end of the year 3,159 2,862 2,414 Funded status – net 355 372 237 Accrued benefit costs 23 13 9 Prepaid benefit costs (Note 18) 378 385 246 Components of net periodic benefit costs: Service costs 314 269 284 Interest costs – net — (18 ) (31 ) Curtailment/settlement gain — — (15 ) Net periodic benefit costs (Note 5) 314 251 238 Smart’s net consolidated pension benefit costs amounted to Php314 million, Php251 million and Php238 million for the years ended December 31, 2018, 2017 and 2016, respectively. Actual net gains on plan assets amounted to nil, Php205 million and Php51 million for the years ended December 31, 2018, 2017 and 2016, respectively. Based on the latest actuarial valuation, Smart and certain of its subsidiaries expect to contribute the amount of approximately Php260 million to the plan in 2019. The following table sets forth the expected future settlements by the Plan of maturing defined benefit obligation as at December 31, 2018: (in million pesos) 2019 75 2020 160 2021 87 2022 114 2023 147 2024 to 2060 1,360 The average duration of the defined benefit obligation at the end of the reporting period is 12 to 20 years. The weighted average assumptions used to determine pension benefits for the years ended December 31, 2018, 2017 and 2016 are as follows: 2018 2017 2016 Rate of increase in compensation 7.3 % 5.0 % 5.0 % Discount rate 6.0 % 5.8 % 5.2 % The sensitivity analysis below has been determined based on reasonably possible changes of each significant assumption on the defined benefit obligation as at December 31, 2018, assuming if all other assumptions were held constant: Increase (Decrease) (in million pesos) Discount rate (1%) 11 1% (6 ) Future salary increases 1% 11 (1%) (6 ) Smart’s Retirement Plan The fund is being managed and invested by BPI Asset Management and Trust Corporation, as Trustee, pursuant to an amended trust agreement dated February 21, 2012. The plan’s investment portfolio seeks to achieve regular income, long-term capital growth and consistent performance over its own portfolio benchmark. In order to attain this objective, the Trustee’s mandate is to invest in a diversified portfolio of bonds and equities, both domestic and international. The portfolio mix is kept at 60% to 90% for debt and fixed income securities, while 10% to 40% is allotted to equity securities. The following table sets forth the fair values, which are equal to the carrying values, of Smart’s plan assets recognized as at December 31, 2018 and 2017: 2018 2017 (in million pesos) Noncurrent Financial Assets Investments in: Domestic fixed income 1,854 1,721 International equities 550 557 Domestic equities 333 555 Philippine foreign currency bonds 165 373 International fixed income — 361 Total noncurrent financial assets 2,902 3,567 Current Financial Assets Cash and cash equivalents 891 153 Receivables 1 8 Total current financial assets 892 161 Total plan assets 3,794 3,728 Employee’s share, forfeitures and mandatory reserve account 635 866 Total Plan Assets of Defined Contribution Plans 3,159 2,862 Domestic Fixed Income Investments in domestic fixed income include Philippine peso denominated bonds, such as government securities and corporate debt securities, with fixed interest rates from 2.8% to 10.13% per annum. Total investments in domestic fixed income amounted to Php1,854 million and Php1,721 million as at December 31, 2018 and 2017, respectively. International Equities Investments in international equities include mutual funds managed by Wellington and Wells Fargo equity fund. Total investment in international equities amounted to Php550 million and Php557 million as at December 31, 2018 and 2017, respectively. Domestic Equities Investments in domestic equities include direct equity investments in common shares listed in the PSE. These investments earn on stock price appreciation and dividend payments. Total investment in domestic equities amounted to Php333 million and Php555 million as at December 31, 2018 and 2017, respectively. This includes investment in PLDT shares with fair value of Php15 million and Php24 million as at December 31, 2018 and 2017, respectively. Philippine Foreign Currency Bonds Investments in Philippine foreign currency bonds include U.S. dollar denominated fixed income instruments issued by the local corporations with fixed interest rates from 4.25% to 7.38% per annum. Total investment in Philippine foreign currency bonds amounted to Php165 million and Php373 million as at December 31, 2018 and 2017, respectively. International Fixed Income Investments in international fixed income include mutual funds which are invested in iShares Floating Rate Bond, which track the investment results of an index composed of U.S. dollar-denominated investment-grade floating rate bonds. Total investments in international fixed income amounted to nil and Php361 million as at December 31, 2018 and 2017, respectively. Cash and Cash Equivalents This pertains to the fund’s excess liquidity in Philippine peso and U.S. dollars including investments in time deposits, money market funds and other deposit products of banks with duration or tenor less than a year. The asset allocation of the Plan is set and reviewed from time to time by the Plan Trustees taking into account the membership profile, the liquidity requirements of the Plan and risk appetite of the Plan sponsor. This considers the expected benefit cash flows to be matched with asset durations. The plan assets are primarily exposed to financial risks such as liquidity risk and price risk. Liquidity risk pertains to the plan’s ability to meet its obligation to the employees upon retirement. To effectively manage liquidity risk, the Plan Trustees invest a portion of the fund in readily tradeable and liquid investments which can be sold at any given time to fund liquidity requirements. Price risk pertains mainly to fluctuations in market prices of equity securities listed in the PSE. In order to effectively manage price risk, the Plan Trustees continuously assess these risks by closely monitoring the market value of the securities and implementing prudent investment strategies. The allocation of the fair value of Smart and certain of its subsidiaries pension plan assets as at December 31, 2018 and 2017 is as follows: 2018 2017 Investments in debt and fixed income securities and others 77 % 70 % Investments in listed and unlisted equity securities 23 % 30 % 100 % 100 % Other Long-term Employee Benefits On September 26, 2017, the Board of Directors of PLDT approved the TIP, which intends to provide incentive compensation to key officers, executives and other eligible participants who are consistent performers and contributors to the Company’s strategic and financial goals. The incentive compensation will be in the form of Performance Shares, PLDT common shares of stock, which will be released in three annual grants on the condition, among others, that pre-determined consolidated core net income targets are successfully achieved over three annual performance periods from January 1, 2017 to December 31, 2019. On September 26, 2017, the Board of Directors approved the acquisition of 860 thousand Performance Shares to be awarded under the TIP. On March 7, 2018, the ECC of the Board approved the acquisition of additional 54 thousand shares, increasing the total Performance Shares to 914 thousand. Metrobank, through its Trust Banking Group, is the appointed Trustee of the trust established for purposes of the TIP. The Trustee is designated to acquire the PLDT common shares in the open market through the facilities of the PSE, and administer their distribution to the eligible participants subject to the terms and conditions of the TIP. On December 11, 2018, the Executive Compensation Committee, or ECC, of the Board approved Management’s recommended modifications to the Plan, and partial equity and cash settled set-up will be implemented for the 2019 TIP Grant. The estimated fair value of remaining unpurchased shares will be given out as cash award. The fair value of the cash award relating to unpurchased shares is determined using the estimate of the fair value of the original award approved in 2017. As at March 21, 2019, a total of 757 thousand PLDT common shares have been acquired by the Trustee, of which 204 thousand PLDT common shares have been released to the eligible participants on April 5, 2018 for the 2017 annual grant. The TIP is administered by the ECC of the Board. The expense accrued for the TIP amounted to Php208 million and Php827 million for the years ended December 31, 2018 and 2017, respectively, and is presented as equity reserves in our consolidated statement of financial position. See Note 3 – Management’s Use of Accounting Judgments, Estimates and Assumptions – Estimating Pension Benefit Costs and Other Employee Benefits Note 5 – Income and Expenses – Compensation and Employee Benefits |
Provisions and Contingencies
Provisions and Contingencies | 12 Months Ended |
Dec. 31, 2018 | |
Text Block1 [Abstract] | |
Provisions and Contingencies | 2 6 . Provisions and Contingencies PLDT’s Local Business and Franchise Tax Assessments Pursuant to a decision of the Supreme Court on March 25, 2003 in the case of PLDT vs. City of Davao Smart’s Local Business and Franchise Tax Assessments The Province of Cagayan issued a tax assessment against Smart for alleged local franchise tax. In 2011, Smart appealed the assessment to the Regional Trial Court, or RTC, of Makati on the ground that Smart cannot be held liable for local franchise tax mainly because it has no sales office within the Province of Cagayan pursuant to Section 137 of the Local Government Code (Republic Act No. 7160). The RTC issued a TRO and a writ of preliminary injunction. On April 30, 2012, the RTC rendered a decision nullifying the tax assessment. The Province of Cagayan was also directed to cease and desist from imposing local franchise taxes on Smart’s gross receipts. The Province of Cagayan then appealed to the Court of Tax Appeals, or CTA. In a Decision promulgated on July 25, 2013, the CTA ruled that the franchise tax assessment is null and void for lack of legal and factual justifications. Cagayan’s Motion for Reconsideration was denied. Cagayan then appealed before the CTA En Banc. The CTA En Banc issued a Decision dated December 8, 2015 affirming the nullity of the tax assessment. On January 26, 2016, Province of Cagayan filed a Partial Motion for Reconsideration, praying among others, that the Court enter a new decision declaring as valid and legal the tax assessment issued by Province of Cagayan to Smart. The CTA En Banc then issued a Resolution dated June 22, 2016 denying the Partial Motion for Reconsideration filed by the Province of Cagayan for lack of merit. On July 31, 2016, the Decision dated December 8, 2015 became final and executory and recorded in the book of entries of judgement of the CTA. In 2016, Cagayan issued another local franchise tax assessment against Smart covering years 2011-2015. Using the same grounds in the first case, Smart appealed the assessment with the RTC of Tuguegarao where the case is pending. The RTC then directed the parties to file their respective Memorandum within 30 days from date of receipt. Smart filed its Memorandum on November 7, 2018. In 2015, the City of Manila issued assessments for alleged business tax deficiencies and cell sites regulatory fees and charges. Smart protested the assessments. After Manila denied the protest, Smart appealed to the RTC of the City of Manila, arguing that it is not liable for local business taxes on income realized from its telecommunications operations and that the assessments were a clear circumvention of Manila City Ordinance No. 8299 exempting Smart from the payment of local franchise tax. The assessment for regulatory fees was contested for being void, as they were made without a valid and legal basis. In the Decision promulgated on March 9, 2016, the RTC declared the local business tax and cell site regulatory fee assessments as invalid and void. The City of Manila filed a Petition for Review with the CTA seeking to reverse the Decision. Smart has already filed its Comment to the Petition and awaiting for further orders from the Court. Through a Decision dated December 18, 2017, the Court dismissed the Petition for lack of jurisdiction. On January 2018, Smart received a copy of the City of Manila’s Motion for Reconsideration, which was denied by the CTA in a Resolution dated May 17, 2018. The City of Manila filed a Petition for Review dated June 1, 2018 before the CTA En Banc. Smart filed its Comment on October 23, 2018. Petition for review is submitted for decision pursuant to Resolution dated November 15, 2018. Digitel’s Franchise Tax Assessment and Real Property Tax Assessment As at November 8, 2018, Digitel is currently in discussions with various local government units for the settlement of its franchise tax and real property tax liabilities within their respective jurisdiction. DMPI’s Local Business and Real Property Taxes Assessments In DMPI vs. City of Cotabato In the DMPI vs. City Government of Malabon DMPI’s Local Tower Fee Assessments In DMPI vs. Municipality of San Mateo DMPI vs. City of Trece Martires In 2010, DMPI petitioned to declare void the City of Trece Martires ordinance of imposing tower fee of Php150 thousand for each cell site annually. Application for the issuance of a preliminary injunction by DMPI is pending resolution as of date. ACeS Philippines’ and Franchise Tax Assessments ACeS Philippines has a pending case with the Supreme Court ( ACeS Philippines Satellite Corporation vs. Commissioner of Internal Revenue Arbitration with Eastern Telecommunications Philippines, Inc., or ETPI Since 1990 up to the present, PLDT and ETPI have been engaged in legal proceedings involving a number of issues in connection with their business relationship. Among PLDT’s claims against ETPI are ETPI’s alleged uncompensated bypass of PLDT’s systems from July 1, 1998 to November 28, 2003; unpaid access charges from July 1, 1999 to November 28, 2003; and non-payment of applicable rates for Off-Net and On-Net traffic from January 1, 1999 to November 28, 2003 arising from ETPI’s unilateral reduction of its rates for the Philippines-Hong Kong traffic stream through Hong Kong REACH-ETPI circuits. ETPI’s claims against PLDT, on the other hand, involve an alleged Philippines-Hong Kong traffic shortfall for the period July 1, 1998 to November 28, 2003; unpaid share of revenues generated from PLDT’s activation of additional growth circuits in the Philippines-Singapore traffic stream for the period July 1, 1999 to November 28, 2003; under reporting of ETPI share of revenues under the terms of a Compromise Agreement for the period January 1, 1999 to November 28, 2003 (which ETPI is seeking to retroact to February 6, 1990); lost revenues arising from PLDT’s blocking of incoming traffic from Hong Kong from November 1, 2001 up to November 2003; and lost revenues arising from PLDT’s circuit migration from January 1, 2001 up to December 31, 2001. While the parties have entered into Compromise Agreements in the past (one in February 1990 and another in March 1999), said agreements have not put to rest the issues between them. To avoid protracted litigation and to preserve their business relationship, PLDT and ETPI agreed to submit their differences and issues to voluntary arbitration. On April 16, 2008, PLDT and ETPI signed an Arbitration Settlement Agreement and submitted their respective Statement of Claims and Answers. Subsequent to such submissions, PLDT and ETPI agreed to suspend the arbitration proceedings. ETPI’s total claim against PLDT is about Php2.9 billion while PLDT’s total claim against ETPI is about Php2.8 billion. In an agreement, Globe and PLDT have agreed that they shall cause ETPI, within a reasonable time after May 30, 2016, to dismiss Civil Case No. 17694 entitled Eastern Telecommunications Philippines, Inc. vs. Philippine Long Distance Telephone Company In the Matter of the Wilson Gamboa Case and Jose M. Roy III Petition In Wilson P. Gamboa vs. Finance Secretary Margarito B. Teves, et. al. (G.R. No. 176579) Court hilippine On May 20, 2013, the Philippine SEC issued SEC Memorandum Circular No. 8, Series of 2013 - Guidelines on Compliance with the Filipino-Foreign Ownership On June 10, 2013, Jose M. Roy III filed before the Supreme Court a Petition for Certiorari against the Philippine SEC, Philippine SEC Chairman and PLDT, or the Petition, claiming: (1) that MC No. 8 violates the decision of the Supreme Court in the Gamboa Case, which according to the Petitioner required that (a) the 60-40 ownership requirement be imposed on “each class of shares” and (b) Filipinos must have full beneficial ownership of 60% of the outstanding capital stock of those corporations subject to that 60-40 Filipino-foreign ownership requirement; and (2) that the PLDT Beneficial Trust Fund is not a Filipino-owned entity and consequently, the corporations owned by PLDT Beneficial Trust Fund, including BTFHI, which owns 150 million voting preferred shares in PLDT, cannot be considered a Filipino-owned corporation. PLDT and Philippine SEC sought the dismissal of the Petition. In July 16, 2013, Wilson C. Gamboa, Jr. et. al. filed a Motion for Leave to file a Petition-in-Intervention dated July 16, 2013, which the Supreme Court The Supreme Court, in its November 22, 2016 decision, dismissed the Petition and Petition-In-Intervention and upheld the validity of MC No. 8. In the course of discussing the Petition, the Supreme Court expressly rejected petitioners’ argument that the 60% Filipino ownership requirement for public utilities must be applied to each class of shares. According to the Court, the position is “simply beyond the literal text and contemplation of Section 11, Article XII of the 1987 Constitution” and that the petitioners’ suggestion would “effectively and unwarrantedly amend or change” the Court’s ruling in Gamboa. In categorically rejecting the petitioners’ claim, the Court declared and stressed that its Gamboa ruling “did NOT make any definitive ruling that the 60% Filipino ownership requirement was intended to apply to each class of shares.” On the contrary, according to the Court, “nowhere in the discussion of the term “capital” in Section 11, Article XII of the 1987 Constitution in the Gamboa Decision did the Court mention the 60% Filipino equity requirement to be applied to each class of shares.” In respect of ensuring Filipino ownership and control of public utilities, the Court noted that this is already achieved by the requirements under MC No. 8. According to the Court, “since Filipinos own at least 60% of the outstanding shares of stock entitled to vote directors, which is what the Constitution precisely requires, then the Filipino stockholders control the corporation – i.e., they dictate corporate actions and decisions…” The Court further noted that the application of the Filipino ownership requirement as proposed by petitioners “fails to understand and appreciate the nature and features of stocks and financial instruments” and would “greatly erode” a corporation’s “access to capital – which a stock corporation may need for expansion, debt relief/repayment, working capital requirement and other corporate pursuits.” The Court reaffirmed that “stock corporations are allowed to create shares of different classes with varying features” and that this “is a flexibility that is granted, among others, for the corporation to attract and generate capital (funds) from both local and foreign capital markets” and that “this access to capital – which a stock corporation may need for expansion, debt relief/repayment, working capital requirement and other corporate pursuits – will be greatly eroded with further unwarranted limitations that are not articulated in the Constitution.” The Court added that “the intricacies and delicate balance between debt instruments (liabilities) and equity (capital) that stock corporations need to calibrate to fund their business requirements and achieve their financial targets are better left to the judgment of their boards and officers, whose bounden duty is to steer their companies to financial stability and profitability and who are ultimately answerable to their shareholders.” The Court went on to say that “a too restrictive definition of ‘capital’, one that was never contemplated in the Gamboa Decision, will surely have a dampening effect on the business milieu by eroding the flexibility inherent in the issuance of preferred shares with varying terms and conditions. Consequently, the rights and prerogatives of the owners of the corporation will be unwarrantedly stymied.” Accordingly, the Court said that the petitioners’ “restrictive interpretation of the term “capital” would have a tremendous adverse impact on the country as a whole – and to all Filipinos.” Petitioner Jose M. Roy III filed a Motion for Reconsideration of the Supreme Court Decision dated November 22, 2016. On April 18, 2017, the Supreme Court denied with finality Petitioner’s Motion for Reconsideration. On August 5, 2017, PLDT received a copy of the Entry of Judgment. Department of Labor and Employment, or DOLE, Compliance Order, or Order, to PLDT The CA issued a Decision in this case last July 31, 2018. In a series of orders including a Compliance Order issued by the DOLE Regional Office on July 3, 2017, which was partly affirmed by DOLE Secretary Bello in his resolutions dated January 10, 2018 and April 24, 2018, the DOLE had previously ordered PLDT to regularize 7,344 workers from 38 of PLDT’s third party service contractors. PLDT questioned these “regularization orders” before the CA, which led to the July 31, 2018 Decision. In sum, the CA: (i) GRANTED PLDT’s prayer for an injunction against the regularization orders; (ii) SET ASIDE the regularization orders insofar as they declared that there was labor-only contracting of the following functions: (a) janitorial services, messengerial and clerical services; (b) information technology, or IT, firms and services; (c) IT support services, both hardware and software, and applications development; The CA agreed with PLDT’s contention that the Secretary’s regularization order was “tainted with grave abuse of discretion” because it did not meet the “substantial evidence” standards set out by the Supreme Court in landmark jurisprudence. The Court also said that the DOLE’s appreciation of evidence leaned in favor of the contractor workers, and that the Secretary had “lost sight” of distinctions involving the labor law concepts of “control over means and methods,” and “control over results.” On August 20, 2018, PLDT filed a motion seeking a partial reconsideration of that part of the CA decision, which ordered a remand to the Office of the Regional Director of the DOLE-National Capital Region of the matter of the regularization of individuals performing installation, repair and maintenance, or IRM, services. In its motion, PLDT argued that the fact-finding process contemplated by the Court’s remand order is actually not part of the visitorial power of the DOLE (i.e., the evidence that will need to be assessed cannot be gleaned by in the ‘normal course’ of a labor inspection) and is therefore, outside the jurisdiction of the Secretary of Labor. PLDT also questioned that part of the CA ruling which seems to conclude that all IRM jobs are “regular”. It argued that the law recognizes that some work of this nature can be project-based or seasonal in nature. Instead of the DOLE, PLDT suggested that the National Labor Relations Commission – a tribunal with better fact-finding powers – take over from the DOLE to determine whether the jobs are in fact IRM, and if so, whether they are “regular” or can be considered project-based or seasonal. Both adverse parties, the PLDT rank-and-file labor union Manggagawa sa Komunikasyon ng Pilipinas, and the DOLE filed Motions for Reconsideration. On February 14, 2019, the CA issued a Resolution denying all Motions for Reconsideration and upheld its July 31, 2018 Decision. PLDT is presently evaluating its legal remedies, which includes appealing the CA Decision and Resolution to the Supreme Court. Other disclosures required by IAS 37 , Provisions, Contingent Liabilities and Contingent Assets Note 3 – Management’s Use of Accounting Judgments, Estimates and Assumptions – Provision for legal contingencies and tax assessments |
Financial Assets and Liabilitie
Financial Assets and Liabilities | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Financial Assets And Liabilities [Abstract] | |
Financial Assets and Liabilities | 2 7 . Financial Assets and Liabilities We have various financial assets such as trade and non-trade receivables, cash and short-term deposits. Our principal financial liabilities, other than derivatives, comprise of bank loans, finance leases, trade and non-trade payables. The main purpose of these financial liabilities is to finance our operations. We also enter into derivative transactions, primarily principal only-currency swap agreements, currency options, interest rate swaps and forward foreign exchange contracts to manage the currency and interest rate risks arising from our operations and sources of financing. Our accounting policies in relation to derivatives are set out in Note 2 – Summary of Significant Accounting Policies – Financial Instruments The following table sets forth our consolidated financial assets and financial liabilities as at December 31, 2018 and 2017: Financial instruments at amortized cost Financial instruments at FVPL Financial instruments at FVOCI Total financial instruments (in million pesos) Assets as at December 31, 2018 Noncurrent: Financial assets at fair value through profit or loss — 4,763 — 4,763 Debt instruments at amortized cost 150 — — 150 Derivative financial assets – net of current portion — 140 — 140 Financial assets at fair value through other comprehensive income – net of current portion — — 2,749 2,749 Other financial assets – net of current portion 2,275 — — 2,275 Current: Cash and cash equivalents 51,654 — — 51,654 Short-term investments 1,165 — — 1,165 Trade and other receivables 24,056 — — 24,056 Current portion of derivative financial assets — 183 — 183 Current portion of financial assets at fair value through other comprehensive income — — 1,604 1,604 Current portion of other financial assets 175 6,833 — 7,008 Total assets 79,475 11,919 4,353 95,747 Liabilities as at December 31, 2018 Noncurrent: Interest-bearing financial liabilities – net of current portion 155,835 — — 155,835 Customers' deposits 2,194 — — 2,194 Deferred credits and other noncurrent liabilities 3,088 — — 3,088 Current: Accounts payable 72,818 — — 72,818 Accrued expenses and other current liabilities 68,920 7,862 — 76,782 Current portion of interest-bearing financial liabilities 20,441 — — 20,441 Dividends payable 1,533 — — 1,533 Current portion of derivative financial liabilities — 80 — 80 Total liabilities 324,829 7,942 — 332,771 Net assets (liabilities) (245,354 ) 3,977 4,353 (237,024 ) Loans and receivables HTM investments Financial instruments at FVPL Derivatives used for hedging Available- for-sale financial investments Financial liabilities carried at amortized cost Total financial assets and liabilities (in million pesos) Assets as at December 31, 2017 Noncurrent: Available-for-sale financial investments — — — — 15,165 — 15,165 Investment in debt securities and other long- term investments – net of current portion — 150 — — — — 150 Derivative financial assets – net of current portion — — — 215 — — 215 Advances and other noncurrent assets – net of current portion 13,855 — — — — — 13,855 Current: Cash and cash equivalents 32,905 — — — — — 32,905 Short-term investments 1,074 — — — — — 1,074 Trade and other receivables 33,761 — — — — — 33,761 Current portion of derivative financial assets — — — 171 — — 171 Current portion of investment in debt securities and other long-term investments 100 — — — — — 100 Current portion of advances and other noncurrent assets 6,824 — — — — — 6,824 Total assets 88,519 150 — 386 15,165 — 104,220 Liabilities as at December 31, 2017 Noncurrent: Interest-bearing financial liabilities – net of current portion — — — — — 157,654 157,654 Derivative financial liabilities – net of current portion — — — 8 — — 8 Customers’ deposits — — — — — 2,443 2,443 Deferred credits and other noncurrent liabilities — — — — — 5,680 5,680 Current: Accounts payable — — — — — 58,490 58,490 Accrued expenses and other current liabilities — — — — — 70,648 70,648 Current portion of interest-bearing financial liabilities — — — — — 14,957 14,957 Dividends payable — — — — — 1,575 1,575 Current portion of derivative financial liabilities — — 90 51 — — 141 Total liabilities — — 90 59 — 311,447 311,596 Net assets (liabilities) 88,519 150 (90 ) 327 15,165 (311,447 ) (207,376 ) The following table sets forth our consolidated offsetting of financial assets and liabilities recognized as at December 31, 2018 and 2017: Gross amounts of recognized financial assets and liabilities Gross amounts of recognized financial assets and liabilities set-off in the statement of financial position Net amount presented in the statement of financial position (in million pesos) December 31, 2018 Current Financial Assets Trade and other receivables Foreign administrations 6,882 3,576 3,306 Domestic carriers 8,245 8,052 193 Total 15,127 11,628 3,499 Current Financial Liabilities Accounts payable Suppliers and contractors 69,144 45 69,099 Carriers and other customers 5,602 2,567 3,035 Total 74,746 2,612 72,134 December 31, 2017 Current Financial Assets Trade and other receivables Foreign administrations 8,536 2,957 5,579 Domestic carriers 4,332 3,950 382 Total 12,868 6,907 5,961 Current Financial Liabilities Accounts payable Suppliers and contractors 54,220 24 54,196 Carriers and other customers 7,426 4,943 2,483 Total 61,646 4,967 56,679 There are no financial instruments subject to an enforceable master netting arrangement as at December 31, 2018 and 2017. The following table sets forth our consolidated carrying values and estimated fair values of our financial assets and liabilities recognized as at December 31, 2018 and 2017 other than those whose carrying amounts are reasonable approximations of fair values: Carrying Value Fair Value 2018 2017 2018 2017 (in million pesos) Noncurrent Financial Assets Debt instruments at amortized cost 150 — 148 — Investment in debt securities and other long-term investments – net of current portion — 150 — 151 Other financial assets – net of current portion 2,275 — 2,020 — Advances and other noncurrent assets — 13,855 — 13,695 Total 2,425 14,005 2,168 13,846 Noncurrent Financial Liabilities Interest-bearing financial liabilities: Long-term debt – net of current portion 155,835 157,654 139,504 150,918 Customers' deposits 2,194 2,443 1,305 1,700 Deferred credits and other noncurrent liabilities 3,088 5,680 2,583 5,093 Total 161,117 165,777 143,392 157,711 Below is the list of our consolidated financial assets and liabilities carried at fair value that are classified using a fair value hierarchy as required for our complete sets of consolidated financial statements as at December 31, 2018 and 2017. This classification provides a reasonable basis to illustrate the nature and extent of risks associated with those financial statements. 2018 2017 Level 1 (1) Level 2 (2) Level 3 (3) Total Level 1 (1) Level 2 (2) Level 3 (3) Total (in million pesos) Noncurrent Financial Assets Listed equity securities Financial assets at FVPL 3,625 154 984 4,763 — — — — Available-for-sale financial investments — — — — 12,848 130 2,187 15,165 Derivative financial assets – net of current portion — 140 — 140 — 215 — 215 Financial assets at FVOCI – net of current portion — 2,749 — 2,749 — — — — Current Financial Assets — — Current portion of derivative financial assets — 183 — 183 — 170 — 170 Current portion of FVOCI — 1,604 — 1,604 — — — — Current portion of other financial assets — 6,833 — 6,833 — — — — Total 3,625 11,663 984 16,272 12,848 515 2,187 15,550 Noncurrent Financial Liabilities Derivative financial liabilities — — — — — 8 — 8 Current Financial Liabilities Accrued expenses and other current liabilities — 7,862 — 7,862 — — — — Derivative financial liabilities — 80 — 80 — 141 — 141 Total — 7,942 — 7,942 — 149 — 149 (1) (2) ( 3 ) As at December 31, 2018 and 2017, there were no transfers into and out of Level 3 fair value measurements. As at December 31, 2018 and 2017, there were no transfers between Level 1 and Level 2 fair value measurements. The following methods and assumptions were used to estimate the fair value of each class of financial instrument for which it is practicable to estimate such value: Long-term financial assets and liabilities: Fair value is based on the following: Type Fair Value Assumptions Fair Value Hierarchy Noncurrent portion of advances and other noncurrent assets Estimated fair value is based on the discounted values of future cash flows using the applicable zero-coupon rates plus counterparties’ credit spread. Level 3 Fixed Rate Loans: U.S. dollar notes Quoted market price. Level 1 Investment in debt securities Fair values were determined using quoted prices. For non-quoted securities, fair values were determined using discounted cash flow based on market observable rates. Level 1 Level 3 Other loans in all other currencies Estimated fair value is based on the discounted value of future cash flows using the applicable Commercial Interest Reference Rate and BVAL rates for similar types of loans plus PLDT’s credit spread. (1) Level 3 Variable Rate Loans The carrying value approximates fair value because of recent and regular repricing based on market conditions. Level 2 (1) Derivative Financial Instruments: Forward foreign exchange contracts, foreign currency swaps and interest rate swaps: The fair values were computed as the present value of estimated future cash flows using market U.S. dollar and Philippine peso interest rates as at valuation date. The valuation techniques considered various inputs including the credit quality of counterparties. Financial assets at FVPL and available-for-sale financial investments: Fair values of financial assets at FVPL and available-for-sale financial investments, which consist of listed shares, were determined using quoted prices. For available-for-sale financial investments where there is no active market and fair value cannot be determined, investments are carried at cost less any accumulated impairment losses. Due to the short-term nature of the transactions, the fair value of cash and cash equivalents, short-term investments, trade and other receivables, accounts payable, accrued expenses and other current liabilities and dividends payable approximate their carrying values as at the end of the reporting period. Derivative Financial Instruments Our derivative financial instruments are accounted for as either cash flow hedges or transactions not designated as hedges. Cash flow hedges refer to those transactions that hedge our exposure to variability in cash flows attributable to a particular risk associated with a recognized financial asset or liability and exposures arising from forecast transactions. Changes in the fair value of these instruments representing effective hedges are recognized directly in other comprehensive income until the hedged item is recognized in our consolidated income statement. For transactions that are not designated as hedges, any gains or losses arising from the changes in fair value are recognized directly to income for the period. As at December 31, 2018 and 2017, we have taken into account the counterparties’ credit risks (for derivative assets) and our own non-performance risk (for derivative liabilities) and have included a credit or debit valuation adjustment, as appropriate, by assessing the maximum credit exposure and taking into account market-based inputs which considers the risk of default occurring and corresponding losses once the default event occurs. The changes in counterparty credit risk had no material effect on the hedge effectiveness assessment for derivatives designated in hedge relationships and other financial instruments recognized at fair value. The table below sets out the information about our consolidated derivative financial instruments as at December 31, 2018 and 2017: 2018 2017 Original Notional Amount Trade Date Underlying Transaction in U.S. Dollar Termination Date Weighted Average Hedge Cost Weighted Average Foreign Exchange Rate Notional Amount Net Mark- to- market Gains (Losses) in Php Notional Amount Net Mark- to- market Gains (Losses) in Php (in millions) (in millions) (in millions) Transactions not designated as hedges: PLDT Long-term currency swaps US$262 2001 and 2002 300 Notes 2017 March 6, 2017 3.42 % Php49.85 — — — — Forward foreign exchange contracts US$34 Various dates in 2017 U.S. dollar liabilities Various dates in 2017 — Php50.18 — — — — US$56 Various dates in 2017 U.S. dollar liabilities Various dates in 2018 — Php50.77 — — US$56 (39 ) US$58 Various dates in 2018 U.S. dollar liabilities Various dates in 2018 — Php52.56 — — — — US$78 Various dates in 2018 and 2019 U.S. dollar liabilities Various dates in January 2019 to July 2019 — Php52.98 US$34 (22 ) — — EUR9 Various dates in August 2018 EUR assets December 14, 2018 — US$1.17 — — — — EUR11 Various dates in 2018 EUR assets December 14, 2018 — Php62.95 — — — — Foreign exchange options EUR36 (a) Various dates in 2018 EUR assets Various dates in November 2018 and December 2018 — EUR1.161 — — — — EUR1.185 Smart Forward foreign exchange contracts US$91 Various dates in 2016 and 2017 U.S. dollar liabilities Various dates in 2017 — Php49.54 — — — — US$120 Various dates in 2017 and 2018 U.S. dollar liabilities Various dates in 2018 — Php52.13 — — US$46 (49 ) US$54 Various dates in 2017 and 2018 U.S. dollar liabilities Various dates in 2019 — Php53.58 US$54 (38 ) — — US$28 January to March 2019 U.S. dollar liabilities Various dates in 2019 — Php52.48 Foreign exchange options US$59 (b) Various dates in 2016 and 2017 U.S. dollar liabilities Various dates in 2017 — Php49.60 — — — — Php50.30 Php51.24 US$4 (c) Various dates in 2017 and 2018 U.S. dollar liabilities Various dates in 2018 — Php50.64 — — US$3 (2 ) Php51.58 Php52.48 DMPI Interest rate swaps US$54 October 7, 2008 59 loan facility March 31, 2017 3.88 % — — — — — US$47 October 7, 2008 51 loan facility June 30, 2017 3.97 % — — — — — (60 ) (90 ) Transactions designated as hedges: PLDT Interest rate swaps (d) US$30 January 23, 2015 150 term loan March 7, 2017 2.11 % — — — — — US$240 Various dates in 2013 and 2015 300 term loan January 16, 2018 2.17 % — — — US$33 2 US$100 August 2014 100 PNB August 11, 2020 3.46 % — US$96 55 US$97 5 US$50 September 2014 50 Metrobank September 2, 2020 3.47 % — US$48 25 US$49 — US$150 April and June 2015 200 term loan February 25, 2022 2.70 % — US$79 66 US$150 26 Long-term currency swaps (e) US$140 October 2015 to June 2016 300 term loan January 16, 2018 2.20 % Php46.67 — — US$31 88 US$4 January 2017 100 PNB August 11, 2020 1.01 % Php49.79 US$2 7 US$3 2 US$6 April and June 2017 200 MUFG Bank, Ltd. August 26, 2019 1.63 % Php49.51 US$3 9 US$6 — US$2 January 2018 200 MUFG Bank, Ltd. August 26, 2019 1.59 % Php49.86 US$1 3 — — US$6 February 2018 200 MUFG Bank, Ltd. February 26, 2020 1.82 % Php51.27 US$5 6 — — US$11 November and December 2018 200 MUFG Bank, Ltd. February 25, 2022 2.32 % Php52.36 US$11 17 — — US$9 February 2019 200 MUFG Bank, Ltd. February 25, 2022 2.23 % Php51.88 Smart Interest rate swaps (f) US$44 May 16, 2013 50 Bank of Tokyo May 30, 2017 1.77 % — — — — — US$110 Various dates in 2013 and 2014 120 term loan June 20, 2018 2.22 % — — — US$15 3 US$85 Various dates in 2014 and 2015 100 Bank of Tokyo March 7, 2019 2.23 % — US$10 3 US$29 8 US$50 October 2, 2014 50 Mizuho May 14, 2019 2.58 % — US$5 2 US$17 4 US$200 Various dates in 2015 200 Mizuho March 4, 2020 2.10 % — US$67 52 US$111 51 US$30 February 2016 100 Mizuho December 7, 2021 2.03 % — US$18 24 US$24 23 Long-term currency swaps (g) US$100 Various dates in 2015 200 Mizuho March 5, 2018 2.21 % Php46.66 — — US$20 58 US$45 Various dates in 2016 100 Mizuho December 7, 2018 1.93 % Php46.55 — — US$18 58 US$11 Various dates in 2017 80 CBC May 31, 2018 1.28 % Php49.66 — — US$4 1 US$16 Various dates in 2017 and 2018 100 Mizuho December 7, 2020 1.69 % Php50.82 US$16 28 US$8 (2 ) US$12 Various dates in 2018 200 Mizuho March 4, 2020 2.01 % Php51.87 US$9 6 — — US$2 January 10, 2019 2015 Mizuho US$200M March 4, 2020 2.25 % Php52.16 US$2 January 11, 2019 2015 Mizuho US$100M December 7, 2020 2.34 % Php52.18 US$6 February 2019 2015 Mizuho US$100M December 7, 2021 2.21 % Php51.83 303 327 243 237 (a) If the EUR to U.S. dollar spot exchange rate on the fixing date settles below €1.161, PLDT will sell the EUR at €1.161. However, if on the fixing date, the exchange rate settles between the €1.161 and €1.185, there will be no settlement by PLDT, and if the exchange rate is above €1.185, PLDT will sell the EUR at €1.185 (b) If the Philippine peso to U.S. dollar spot exchange rate on the maturity date settles between Php50.30 to Php51.24, Smart will purchase the U.S. dollar for Php50.30. However, if on maturity, the exchange rate settles above Php51.24, Smart will purchase the U.S. dollar for Php50.30 plus the excess above Php51.24, and if the exchange rate is lower than Php50.30, Smart will purchase the U.S. dollar at the prevailing Philippine peso to U.S. dollar spot exchange rate, subject to a floor of Php49.60. (c) If the Philippine peso to U.S. dollar spot exchange rate on the maturity date settles between Php51.58 to Php52.48, Smart will purchase the U.S. dollar for Php51.58. However, if on maturity, the exchange rate settles above Php52.48, Smart will purchase the U.S. dollar for Php51.58 plus the excess above Php52.48, and if the exchange rate is lower than Php51.58, Smart will purchase the U.S. dollar at the prevailing Philippine peso to U.S. dollar spot exchange rate, subject to a floor of Php50.64. (d) PLDT’s interest rate swap agreements outstanding as at December 31, 2018 and 2017 were designated as cash flow hedges, wherein the effective portion of the movements in fair value is recognized in our consolidated statements of other comprehensive income, while any ineffective portion is recognized immediately in our consolidated income statements. The mark-to-market gains amounting to Php129 million and Php44 million were recognized in our consolidated statements of other comprehensive income as at December 31, 2018 and 2017, respectively. Interest accrual on the interest rate swaps amounting to Php17 million and Php11 million were recorded as at December 31, 2018 and 2017, respectively. There were no ineffective portion in the fair value recognized in our consolidated income statements for the years ended December 31, 2018 and 2017. (e) PLDT’s long-term principal only-currency swap agreements entered into in 2015 to 2018 were designated as cash flow hedges, wherein effective portion of the movements in the fair value is recognized in our consolidated statements of other comprehensive income, while any ineffective portion is recognized immediately in our consolidated income statements. The mark-to-market gains amounting to Php45 million and Php108 million were recognized in our consolidated statements of other comprehensive income as at December 31, 2018 and 2017, respectively. Hedge cost accrual on the long-term principal only-currency swaps amounting to Php3 million and Php18 million were recognized as at December 31, 2018 and 2017, respectively. The amounts recognized as other comprehensive income are transferred to profit or loss when the hedged loan is revalued for changes in the foreign exchange rate. A hedge cost portion of the movements in the fair value amounting to Php1 million and Php3 million were recognized in our consolidated income statements for the years ended December 31, 2018 and 2017, respectively. (f) Smart’s interest rate swap agreements outstanding as at December 31, 2018 and 2017 were designated as cash flow hedges, wherein the effective portion of the movements in fair value is recognized in our consolidated statements of other comprehensive income, while any ineffective portion is recognized immediately in our consolidated income statements. The mark-to-market gains amounting to Php63 million and Php85 million were recognized in our consolidated statements of other comprehensive income as at December 31, 2018 and 2017, respectively. Reduction on interest arising from the interest rate swaps amounted to Php18 million and Php4 million as at December 31, 2018 and 2017, respectively. There were no ineffective portion in the fair value recognized in our consolidated income statements for the years ended December 31, 2018 and 2017. (g) Smart’s long-term principal only-currency swap agreements outstanding as at December 31, 2018 and 2017 were designated as cash flow hedges, wherein the effective portion of the movements in fair value is recognized in our consolidated statements of other comprehensive income, while any ineffective portion is recognized immediately in our consolidated income statements. The mark-to-market gains amounting to Php50 million and Php124 million were recognized in our consolidated statements of other comprehensive income as at December 31, 2018 and 2017, respectively. Hedge cost accrual on the long-term principal only-currency swaps amounting to Php16 million and Php9 million were recognized as at December 31, 2018 and 2017, respectively. The amounts recognized as other comprehensive income are transferred to profit or loss when the hedged loan is revalued for changes in the foreign exchange rate. A hedge cost portions of the movements in the fair value amounting to Php2 million and Php4 million was recognized in our consolidated income statements for the years ended December 31, 2018 and 2017, respectively. 2018 2017 (in million pesos) Presented as: Noncurrent assets 140 215 Current assets 183 171 Noncurrent liabilities — (8 ) Current liabilities (80 ) (141 ) Net assets 243 237 Movements of our consolidated mark-to-market gains for the years ended December 31, 2018 and 2017 are summarized as follows: 2018 2017 (in million pesos) Net mark-to-market gains at beginning of the year 237 514 Gains on derivative financial instruments (Note 4) 1,135 724 Effective portion recognized in the profit or loss for the cash flow hedges 27 (55 ) Net fair value losses on cash flow hedges charged to other comprehensive income (286 ) (411 ) Settlements, interest expense and others (870 ) (535 ) Net mark-to-market gains at end of the year 243 237 Our consolidated analysis of gains on derivative financial instruments for the years ended December 31, 2018, 2017 and 2016 are as follows: 2018 2017 2016 (in million pesos) Gains on derivative financial instruments (Note 4) 1,135 724 1,539 Hedge costs (49 ) (191 ) (543 ) Net gains on derivative financial instruments (Notes 4 and 5) 1,086 533 996 Financial Risk Management Objectives and Policies The main risks arising from our financial instruments are liquidity risk, foreign currency exchange risk, interest rate risk and credit risk. The importance of managing those risks has significantly increased in light of the considerable change and volatility in both the Philippine and international financial markets. Our Board of Directors reviews and approves policies for managing each of these risks. Our policies for managing these risks are summarized below. We also monitor the market price risk arising from all financial instruments. Liquidity Risk Our exposure to liquidity risk refers to the risk that our financial requirements, working capital requirements and planned capital expenditures will not be met. We manage our liquidity profile to be able to finance our operations and capital expenditures, service our maturing debts and meet our other financial obligations. To cover our financing requirements, we use internally generated funds and proceeds from debt and equity issues and sales of certain assets. As part of our liquidity risk management program, we regularly evaluate our projected and actual cash flows, including our loan maturity profiles, and continuously assess conditions in the financial markets for opportunities to pursue fund-raising initiatives. These activities may include bank loans, export credit agency-guaranteed facilities, debt capital and equity market issues. Any excess funds are primarily invested in short-term and principal-protected bank products that provide flexibility of withdrawing the funds anytime. We also allocate a portion of our cash in longer tenor investments such as fixed income securities issued or guaranteed by the Republic of the Philippines, and Philippine banks and corporates and managed funds. We regularly evaluate available financial products and monitor market conditions for opportunities to enhance yields at acceptable risk levels. Our investments are also subject to certain restrictions contained in our debt covenants. Our funding arrangements are designed to keep an appropriate balance between equity and debt and to provide financing flexibility while enhancing our businesses. Our cash position remains sufficient to support our planned capital expenditure requirements and service our debt and financing obligations; however, we may be required to finance a portion of our future capital expenditures from external financing sources. We have cash and cash equivalents, and short-term investments amounting to Php51,654 million and Php1,165 million, respectively, as at December 31, 2018, which we can use to meet our short-term liquidity needs. See Note 15 – Cash and Cash Equivalents. The following table discloses a summary of maturity profile of our financial assets based on our consolidated undiscounted claims outstanding as at December 31, 2018 and 2017: Total Less than 1 year 1-3 years 3-5 years More than 5 years (in million pesos) December 31, 2018 Financial instruments at amortized cost: 90,232 87,526 2,190 349 167 Other financial assets 2,686 130 2,040 349 167 Debt instruments at amortized cost 150 — 150 — — Cash equivalents 45,672 45,672 — — — Short-term investments 1,165 1,165 — — — Retail subscribers 19,444 19,444 — — — Corporate subscribers 11,073 11,073 — — — Foreign administrations 4,225 4,225 — — — Domestic carriers 270 270 — — — Dealers, agents and others 5,547 5,547 — — — Financial instruments at FVPL: 11,596 6,833 — — 4,763 Financial assets at fair value through profit or loss 4,763 — — — 4,763 Other financial assets 6,833 6,833 — — — Financial assets at fair value through other comprehensive income 4,353 1,604 2,749 — — Total 106,181 95,963 4,939 349 4,930 December 31, 2017 Loans and receivables: 96,891 82,814 11,175 2,739 163 Advances and other noncurrent assets 20,901 6,824 11,175 2,739 163 Cash equivalents 26,554 26,554 — — — Short-term investments 1,074 1,074 — — — Investment in debt securities and other long-term investments 100 100 — — — Retail subscribers 17,961 17,961 — — — Corporate subscribers 9,641 9,641 — — — Foreign administrations 6,517 6,517 — — — Domestic carriers 457 457 — — — Dealers, agents and others 13,686 13,686 — — — HTM investments: 150 — 150 — — Investment in debt securities and other long-term investments 150 — 150 — — Available-for-sale financial investments 15,165 — — — 15,165 Total 112,206 82,814 11,325 2,739 15,328 The following table discloses a summary of maturity profile of our financial liabilities based on our consolidated contractual undiscounted obligations outstanding as at December 31, 2018 and 2017: Payments Due by Period Total Less than 1 year 1-3 years 3-5 years More than 5 years (in million pesos) December 31, 2018 Debt (1): 218,791 13,892 72,007 51,098 81,794 Principal 176,694 13,292 49,747 41,401 72,254 Interest 42,097 600 22,260 9,697 9,540 Lease obligations: 22,674 12,727 4,066 2,616 3,265 Operating lease 22,674 12,727 4,066 2,616 3,265 Other obligations: 145,892 140,549 3,206 176 1,961 Various trade and other obligations: 145,892 140,549 3,206 176 1,961 Suppliers and contractors 72,064 69,099 2,828 137 — Utilities and related expenses 48,189 48,128 61 — — Employee benefits 7,955 7,955 — — — Liability from redemption of preferred shares 7,862 7,862 — — — Customers’ deposits 2,194 — 194 39 1,961 Carriers and other customers 1,815 1,815 — — — Dividends 1,533 1,533 — — — Others 4,280 4,157 123 — — Total contractual obligations 387,357 167,168 79,279 53,890 87,020 December 31, 2017 Debt (1): 213,597 3,285 70,552 48,958 90,802 Principal 173,136 3,251 51,254 37,925 80,706 Interest 40,461 34 19,298 11,033 10,096 Lease obligations: 20,666 11,871 3,851 2,266 2,678 Operating lease 20,666 11,871 3,851 2,266 2,678 Other obligations: 128,618 120,471 5,881 264 2,002 Various trade and other obligations: 128,618 120,471 5,881 264 2,002 Suppliers and contractors 59,776 54,196 5,339 241 — Utilities and related expenses 44,007 43,984 22 1 — Liability from redemption of preferred shares 7,870 7,870 — — — Employee benefits 6,573 6,573 — — — Customers’ deposits 2,443 — 419 22 2,002 Carriers and other customers 2,083 2,083 — — — Dividends 1,575 1,575 — — — Others 4,291 4,190 101 — — Total contractual obligations 362,881 135,627 80,284 51,488 95,482 (1) Debt See Note 20 – Interest-bearing Financial Liabilities – Long-term Debt Operating Lease Obligations The PLDT Group has various lease contracts for periods ranging from one to ten years covering certain offices, warehouses, cell sites telecommunications equipment locations and various office equipment. These lease contracts are subject to certain escalation clauses. Our consolidated future minimum lease commitments payable with non-cancellable operating leases as at December 31, 2018 and 2017 are as follows: 2018 2017 (in million pesos) Within one year 12,867 11,945 After one year but not more than five years 6,542 6,043 More than five years 3,265 2,678 Total 22,674 20,666 Finance Lease Obligations See Note 20 – Interest-bearing Financial Liabilities – Obligations under Finance Leases Other Obligations – Various Trade and Other Obligations PLDT Group has various obligations to suppliers for the acquisition of phone and network equipment, contractors for services rendered on various projects, foreign administrations and domestic carriers for the access charges, shareholders for unpaid dividends distributions, employees for benefits and other related obligations, and various business and operational related agreements. Total obligations under these various agreements amounted to approximately Php145,892 million and Php128,618 million as at December 31, 2018 and 2017, respectively. See Note 22 – Accounts Payable Note 23 – Accrued Expenses and Other Current Liabilities Commercial Commitments Our outstanding consolidated commercial commitments, in the form of letters of credit, amounted to Php20 million and Php88 million as at December 31, 2018 and 2017, respectively. These commitments will expire within one year. See Note 10 – Investments in Associates and Joint Ventures – Investments of PLDT in VTI, Bow Arken and Brightshare Collateral We have not made any pledges as collateral with respect to our financial liabilities as at December 31, 2018 and 2017. Foreign Currency Exchange Risk Foreign currency exchange risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in foreign exchange rates. The revaluation of our foreign currency-denominated financial assets and liabilities as a result of the appreciation or depreciation of the Philippine peso is recognized as foreign exchange gains or losses as at the end of the reporting period. The extent of foreign exchange gains or losses is largely dependent on the amount of foreign currency liabilities. While a certain percentage of our revenues are either linked to or denominated in U.S. dollars, a substantial portion of our capital expenditures, a portion of our indebtedness and related interest expense and a portion of our operating expenses are denominated in foreign currencies, mostly in U.S. dollars. As such, a strengthening or weakening of the Philippine peso against the U.S. dollar will decrease or increase in Philippine peso terms both the principal amount of our foreign currency-denominated debts and the related interest expense, our foreign currency-denominated capital expenditures and operating expenses as well as our U.S. dollar-linked and U.S. dollar-denominated revenues. In addition, many of our financial ratios and other financial tests are affected by the movements in the Philippine peso to U.S. dollar exchange rate. To manage our foreign exchange risks and to stabilize our cash flows in order to improve investment and cash flow planning, we enter into forward foreign exchange contracts, currency swap contracts, currency option contracts and other hedging products aimed at reducing and/or managing the adverse impact of changes in foreign exchange rates on our operating results and cash flows. Further details of the risk management strategy is recognized in our hedge designation documentation. W |
Notes to the Statement of Cash
Notes to the Statement of Cash Flows | 12 Months Ended |
Dec. 31, 2018 | |
Text Block1 [Abstract] | |
Notes to the Statement of Cash Flows | 2 8 . Notes to the Statement of Cash Flows The following table shows the changes in liabilities arising from financing activities: Foreign exchange 2017 Cash flows movement Others 2018 (in million pesos) Interest-bearing financial liabilities (Note 20) 172,611 1,722 1,723 220 176,276 Long-term financing for capital expenditures (Note 21) 5,580 — — (2,615 ) 2,965 Accrued dividends and other related costs 1,176 (6,614 ) — 6,785 1,347 Dividends 1,575 (13,928 ) — 13,886 1,533 180,942 (18,820 ) 1,723 18,276 182,121 Foreign exchange 2016 Cash flows movement Others 2017 (in million pesos) Interest-bearing financial liabilities (Note 20) 185,032 (13,097 ) 417 259 172,611 Long-term financing for capital expenditures (Note 21) 13,673 (7,735 ) — (358 ) 5,580 Accrued interests and other related costs 1,412 (7,076 ) — 6,840 1,176 Dividends 1,544 (16,617 ) — 16,648 1,575 201,661 (44,525 ) 417 23,389 180,942 Others include the effect of accretion of long-term borrowings, effect of accrued but not yet paid interest on interest-bearing loans and borrowings and accrual of dividends that were not yet paid at the end of the period. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Significant Accounting Policies [Abstract] | |
Basis of Preparation | Basis of Preparation Our consolidated financial statements have been prepared in accordance with International Financial Reporting Standards, or IFRSs, as issued by the International Accounting Standards Board, or IASB. Our consolidated financial statements have been prepared under the historical cost basis, except for derivative financial assets, financial assets at fair value through profit or loss, or FVPL, financial assets at fair value through other comprehensive income, or FVOCI, certain available-for-sale financial investments, and investment properties that are measured at fair values. Our consolidated financial statements are presented in Philippine peso, PLDT’s functional currency, and all values are rounded to the nearest million, except when otherwise indicated. |
Basis of Consolidation | Basis of Consolidation Our consolidated financial statements include the financial statements of PLDT and the following subsidiaries (collectively, the “PLDT Group”) as at December 31, 2018 and 2017: 2018 2017 Place of Percentage of Ownership Name of Subsidiary Incorporation Principal Business Activity Direct Indirect Direct Indirect Wireless Smart: Philippines Cellular mobile services 100.0 — 100.0 — Smart Broadband, Inc., or SBI, and Subsidiary Philippines Internet broadband distribution services — 100.0 — 100.0 Primeworld Digital Systems, Inc., or PDSI Philippines Internet broadband distribution services — 100.0 — 100.0 I-Contacts Corporation Philippines Operations support servicing business — 100.0 — 100.0 Smart Money Holdings Corporation, or SMHC (a) Cayman Islands Investment company — 100.0 — 100.0 Far East Capital Limited, or FECL, and Subsidiary, or FECL Group (a) Cayman Islands Cost effective offshore financing and risk management activities for Smart — 100.0 — 100.0 PH Communications Holdings Corporation, or PHC Philippines Investment company — 100.0 — 100.0 Connectivity Unlimited Resource Enterprise, or CURE Philippines Cellular mobile services — 100.0 — 100.0 Francom Holdings, Inc., or FHI: Philippines Investment company — 100.0 — 100.0 Chikka Holdings Limited, or Chikka, and Subsidiaries, or Chikka Group (a) British Virgin Islands Content provider, mobile applications development and services — 100.0 — 100.0 Wifun, Inc., or Wifun Philippines Software developer and selling of WiFi access equipment — 100.0 — 100.0 Telesat, Inc. (a) Philippines Satellite communications services 100.0 — 100.0 — ACeS Philippines Cellular Satellite Corporation, or ACeS Philippines Philippines Satellite information and messaging services 88.5 11.5 88.5 11.5 Digitel Mobile Philippines, Inc., or DMPI, (a wholly-owned subsidiary of Digitel) Philippines Cellular mobile services — 99.6 — 99.6 Fixed Line PLDT Clark Telecom, Inc., or ClarkTel Philippines Telecommunications services 100.0 — 100.0 — PLDT Subic Telecom, Inc., or SubicTel Philippines Telecommunications services 100.0 — 100.0 — PLDT Global Corporation, or PLDT Global, and Subsidiaries British Virgin Islands Telecommunications services 100.0 — 100.0 — Smart-NTT Multimedia, Inc. (a) Philippines Data and network services 100.0 — 100.0 — PLDT-Philcom, Inc., or Philcom, and Subsidiaries, or Philcom Group Philippines Telecommunications services 100.0 — 100.0 — Talas Data Intelligence, Inc., or Talas Philippines Business infrastructure and solutions; intelligent data processing and implementation services and data analytics insight generation 100.0 — 100.0 — ePLDT, Inc., or ePLDT: Philippines Information and communications infrastructure for internet-based services, e-commerce, customer relationship management and IT related services 100.0 — 100.0 — IP Converge Data Services, Inc., or IPCDSI, and Subsidiary, or IPCDSI Group Philippines Information and communications infrastructure for internet-based services, e-commerce, customer relationship management and IT related services — 100.0 — 100.0 Curo Teknika, Inc., or Curo Philippines Managed IT outsourcing — 100.0 — 100.0 ABM Global Solutions, Inc., or AGS, and Subsidiaries, or AGS Group Philippines Internet-based purchasing, IT consulting and professional services — 100.0 — 100.0 ePDS, Inc., or ePDS Philippines Bills printing and other related value-added services, or VAS — 95.0 — 67.0 netGames, Inc. (b) Philippines Gaming support services — 57.5 — 57.5 MVP Rewards Loyalty Solutions, Inc., or MRSI (c) Philippines Full-services customer rewards and loyalty programs — 100.0 — — Digitel: Philippines Telecommunications services 99.6 — 99.6 — Digitel Information Technology Services, Inc. (a) Philippines Internet services — 99.6 — 99.6 PLDT-Maratel, Inc., or Maratel Philippines Telecommunications services 98.0 — 98.0 — Bonifacio Communications Corporation, or BCC Philippines Telecommunications, infrastructure and related VAS 75.0 — 75.0 — Pacific Global One Aviation Company, Inc., or PG1 Philippines Air transportation business 65.0 — 65.0 — Pilipinas Global Network Limited, or PGNL, and Subsidiaries British Virgin Islands Internal distributor of Filipino channels and content 64.6 — 64.6 — Others PLDT Global Investments Holdings, Inc., or PGIH Philippines Investment company 100.0 — 100.0 — PLDT Digital Investments Pte. Ltd., or PLDT Digital, and Subsidiaries Singapore Investment company 100.0 — 100.0 — Mabuhay Investments Corporation, or MIC (a) Philippines Investment company 67.0 — 67.0 — PLDT Global Investments Corporation, or PGIC British Virgin Islands Investment company — 100.0 — 100.0 PLDT Communications and Energy Ventures, Inc., or PCEV Philippines Investment company — 99.9 — 99.9 Voyager Innovations Holdings, Pte. Ltd., or VIH, (formerly eInnovations Holdings Pte. Ltd.) (d) Singapore Investment company — — — 100.0 Voyager Innovations Investments Pte. Ltd., or VII, (formerly Takatack Holdings Pte. Ltd.) (e) Singapore Investment company — — — 100.0 Voyager Innovations Singapore Pte. Ltd., or VIS, (formerly Takatack Technologies Pte. Ltd.) (f) Singapore Development and maintenance of IT-based solutions for communications and e-Commerce platforms — — — 100.0 Takatack Malaysia Sdn. Bhd., or Takatack Malaysia Malaysia Development, maintenance and support services to enable the digital commerce ecosystem — — — 100.0 Voyager Innovations, Inc., or Voyager Philippines Mobile applications and digital platform developer — — — 100.0 Voyager Innovations Pte. Ltd., or VIP, (formerly ePay Investments Pte. Ltd.) (g) Singapore Investment company — — — 100.0 PayMaya Philippines, Inc., or PayMaya Philippines Provide and market certain mobile payment services — — — 100.0 PayMaya Operations Philippines, Inc., or PayMaya Ops Philippines Market, sell and distribute payment solutions and other related services — — — 100.0 ePay Investments Myanmar, Ltd., or ePay Myanmar (h) Myanmar Investment company — — — 100.0 3rd Brand Pte. Ltd., or 3rd Brand (i) Singapore Solutions and systems integration services — — — 85.0 Voyager Fintech Ventures Pte. Ltd., or Fintech Ventures Singapore Investment company — — — 100.0 Fintqnologies Corporation, or FINTQ Philippines Development of financial technology innovations — — — 100.0 Fintq Inventures Insurance Agency Corporation Philippines Insurance company — — — 100.0 (a) (b) (c) ( d ) On July 11, 2017, the Accounting and Corporate Regulatory Authority, or ACRA, of Singapore approved the change in business name of eInnovations Holdings Pte. Ltd. to Voyager Innovations Holdings Pte. Ltd. On April 16, 2018, the ACRA of Singapore approved the transfer of VIH to PCEV. On November 28, 2018, upon closing of the subscription agreements of PLDT, Tencent Holdings Limited, or Tencent, and KKR & Co., Inc., or KKR, PCEV’s ownership in VIH was reduced to 53.87% and with only two board seats in the investee, the transaction resulted to a loss of control. On December 10, 2018, PCEV’s ownership in VIH was further reduced to 48.74% upon receipt of the investments from International Finance Corp., or IFC, and IFC Emerging Asia Fund, or IFC EAF. PCEV accounts for its remaining interest in VIH as investment in associate starting December 2018. ( e ) ( f ) ( g ) ( h ) ( i ) rd Subsidiaries are fully consolidated from the date of acquisition, being the date on which PLDT obtains control, and continue to be consolidated until the date that such control ceases. We control an investee when we are exposed, or have rights, to variable returns from our involvement with the investee and when we have the ability to affect those returns through our power over the investee. The financial statements of our subsidiaries are prepared for the same reporting period as PLDT. We prepare our consolidated financial statements using uniform accounting policies for like transactions and other events with similar circumstances. Profit or loss and each component of other comprehensive income are attributed to the equity holders of the parent of the Group and to the non-controlling interests, even if this results in the non-controlling interests having a deficit balance. Noncontrolling interests share in losses even if the losses exceed the noncontrolling equity interest in the subsidiary. A change in the ownership interest of a subsidiary, without loss of control, is accounted for as an equity transaction and impact is presented as part of other equity reserves. If PLDT loses control over a subsidiary, it: (a) derecognizes the assets (including goodwill) and liabilities of the subsidiary; (b) derecognizes the carrying amount of any noncontrolling interest; (c) derecognizes the cumulative translation differences recorded in equity; (d) recognizes the fair value of the consideration received; (e) recognizes the fair value of any investment retained; (f) recognizes any surplus or deficit in profit or loss; and (g) reclassifies the parent’s share of components previously recognized in other comprehensive income to profit or loss or retained earnings, as appropriate. Divestment of CURE On October 26, 2011, PLDT received the Order issued by the NTC approving the application jointly filed by PLDT and Digitel for the sale and transfer of approximately 51.6% of the outstanding common stock of Digitel to PLDT. The approval of the application was subject to conditions which included the divestment by PLDT of CURE, in accordance with the Divestment Plan, as follows: • CURE is obligated to sell its Red Mobile • Smart is obligated to sell all of its rights and interests in CURE whose remaining assets will consist of its congressional franchise, 10 Megahertz, or MHz, of 3G frequency in the 2100 band and related permits. In compliance with the commitments in the divestment plan, CURE completed the sale and transfer of its Red Mobile Red Mobile Red Mobile In a letter dated July 26, 2012, Smart informed the NTC that it has complied with the terms and conditions of the divestment plan as CURE had rearranged its assets, such that, except for assets necessary to pay off obligations due after June 30, 2012 and certain tax assets, CURE’s only remaining assets as at June 30, 2012 were its congressional franchise, the 10 MHz of 3G frequency in the 2100 band and related permits. In a letter dated September 10, 2012, Smart informed the NTC that the minimum Cost Recovery Amount, or CRA, to enable PLDT to recover its investment in CURE includes, among others, the total cost of equity investments in CURE, advances from Smart for operating requirements, advances from stockholders and associated funding costs. In a letter dated January 21, 2013, the NTC referred the computation of the CRA to the Commissioners of the NTC. In a letter dated March 5, 2018, PLDT informed the NTC that it is waiving its right to recover any and all cost related to the 10MHz of 3G radio frequency previously assigned to CURE. Accordingly, CURE will not claim any cost associated with it in the event of subsequent assignment by the NTC to another qualified telecommunication company. With the foregoing, PLDT is deemed to have fully complied with its obligation to divest from CURE as a condition to the sale and transfer of Digitel shares to PLDT. In 2018, Smart recognized full impairment of its receivable from CURE, due to uncertainty of collectability, and its investments in PHC and FHI, which holds the 97% and 3% interest in CURE, respectively. These transactions were eliminated in our consolidated financial statements. Incorporation of Talas On June 9, 2015, the PLDT’s Board of Directors approved the incorporation of Talas, a wholly-owned subsidiary of PLDT. Total subscription in Talas amounted to Php250 million, of which Php62.5 million was paid on May 25, 2015, for purposes of incorporation, and the balance of Php187.5 million was paid on May 16, 2016. PLDT provided Talas an additional equity investment of Php120 million, Php150 million and Php115 million on January 31, 2017, February 28, 2017 and March 31, 2017, respectively, as approved by PLDT’s Board of Directors in June 2016. Talas is tasked with unifying the digital data assets of the PLDT Group which involves the implementation of the Intelligent Data Fabric, exploration of revenue opportunities and the delivery of the big data capability platform. Agreement between PLDT Capital and Gohopscotch, Inc., or Hopscotch On April Transfer of DMPI’s Sun Postpaid Cellular and Broadband Subscription Assets to Smart On August 1, 2016, the Board of Directors of Smart and DMPI approved the sale/transfer of DMPI’s trademark and subscribers (both individual and corporate) including all of DMPI’s assets, rights and obligations directly or indirectly connected to its postpaid cellular and broadband subscribers. The transfer is in accordance with the integration of the wireless business to simplify business operations, as well as to provide flexibility in offering new bundled/converged products and enhanced customer experience. The transfer was completed on November 1, 2016, after which only its prepaid cellular business remains with DMPI. This transaction was eliminated in our consolidated financial statements. Extension of Smart’s Congressional Franchise On March 27, 1992, Philippine Congress granted a legislative franchise to Smart under Republic Act, or R.A., No. 7294 to establish, install, maintain, lease and operate integrated telecommunications, computer, electronic services, and stations throughout the Philippines for public domestic and international telecommunications, and for other purposes. R.A. No. 7294 took effect on April 15, 1992, or 15 days from the date of its publication in at least two newspapers of general circulation in the Philippines. On April 21, 2017, R.A. No. 10926, which effectively extends Smart’s franchise until 2042, was signed into law by the President of the Republic of the Philippines. The law was published in a newspaper of general circulation on May 4, 2017 and took effect on May 19, 2017. Decrease in Authorized Capital Stock and Amendment of the Articles of Incorporation of MIC On May 30, 2017, the Board of Directors of MIC approved the (a) reduction of MIC’s authorized capital stock from Php2,028 million divided into 20 million shares to Php1,602 million by decreasing the par value per share from Php100.00 to Php79.00, or the Decrease in Capital, and (b) the corresponding amendment to the Seventh Article of the Articles of Incorporation of MIC, or the Amendment of Articles. On the same date, the Decrease in Capital and Amendment of Articles were approved by the stockholders representing at least two thirds of the outstanding shares of MIC. The application for approval of the Decrease in Capital and Amendment of Articles was filed with the Philippine Securities and Exchange Commission, or Philippine SEC, on July 11, 2017 and was approved on December 18, 2017. Transfer of SBI’s Home Broadband Subscription Assets to PLDT On September 26, 2017, the Board of Directors of PLDT and SBI, a subsidiary providing wireless broadband services, approved the sale and transfer of SBI’s trademark and subscribers, and all of SBI’s assets, rights and obligations directly or indirectly connected to its HOME Ultera and HOMEBRO Wimax businesses to PLDT. The transfer was effective January 1, 2018. Subscription assets and trademark are amortized over two years and 10 years, respectively, using the straight-line method of accounting. SBI’s businesses are currently being managed by PLDT pursuant to the Operations Maintenance and Management Agreement between PLDT and SBI effective October 1, 2012. Subsequent to the transfer, SBI will continue to provide broadband services to its existing Canopy subscribers using a portion of Smart’s network. The transfer is in accordance with the said agreement and in order to achieve the expected benefits, as follows: • Seamless upgrades of PLDT products; • Flexibility for business in cross-selling of PLDT products; and • Enhanced customer experience. On December 18, 2017, PLDT settled the partial consideration to SBI amounting to Php1,294 million. The remaining balance of Php1,152 million was fully paid on July 31, 2018. This transaction was eliminated in our consolidated financial statements. Transfer of iCommerce Pte. Ltd., or iCommerce, to PLDT Online On December 14, 2017, VIH and PLDT Online entered into a Sale and Purchase Agreement, or SPA, whereby VIH sold all of its 10 thousand ordinary shares in iCommerce to PLDT Online for a total purchase price of SG$1.00. On the same date, VIH assigned its loans receivables from iCommerce to PLDT Online amounting to US$8.6 million. In consideration, a total of US$8.9 million, inclusive of interest, was fully paid by PLDT Online to VIH on November 30, 2017. See Note 10 – Investments in Associates and Joint Ventures – Investments in Joint Ventures – iCommerce’s Investment in PHIH Issuance of Perpetual Notes In 2017, Smart issued various perpetual notes, including Php1,100 million perpetual notes to Rizal Commercial Banking Corporation, or RCBC, Trustee of PLDT’s Redemption Trust Fund. See Note 19 – Equity – Perpetual Notes Agreement between PLDT, Smart and Amdocs Philippines, Inc., or Amdocs On January 24, 2018, PLDT and Smart entered into a seven-year, US$300 million Managed Transformation Agreement with Amdocs, a leading provider of software and services to communications and media companies, to upgrade PLDT’s business IT systems and improve its business processes and services, aimed at enhancing consumer satisfaction, reducing costs and generating increased revenues. On September 28, 2018, PLDT and Amdocs expanded their strategic partnership under a new six-year service agreement to consolidate, modernize and manage PLDT and Smart’s IT Infrastructure, to further enhance customer experience and engagement. Consolidation of the Digital Investments of Smart under PCEV On February 27, 2018, the Board of Directors of PCEV approved the consolidation of the various Digital Investments under PCEV, which was carried out through the following transactions: (i) PCEV entered into a Share Purchase Agreement with Voyager to purchase 53 million ordinary shares of VIH, representing 100% of the issued and outstanding ordinary shares of VIH, for a total consideration of Php465 million. The total consideration was settled on March 15, 2018, while the transfer of shares to PCEV was completed on April 6, 2018; (ii) VIH entered into a Share Purchase Agreement with Smart to purchase all of its 170 million common shares of Voyager for a total consideration of Php3,527 million. The total consideration was settled on April 16, 2018; and (iii) PCEV entered into a Subscription Agreement with VIH to subscribe to additional 96 million ordinary shares of VIH, with a par value of SG$1.00 per ordinary share, for a total subscription price of SG$96 million, or Php3,806 million, which was settled on April 13, 2018. Loss of Control of PCEV over VIH On October 4, 2018, PLDT, as the ultimate Parent Company of PCEV, VIH, Vision Investment Holdings Pte. Ltd., or Vision, an entity indirectly controlled by KKR and Cerulean Investment Limited, or Cerulean, an entity indirectly owned and controlled by Tencent, entered into subscription agreements under which Vision and Cerulean, or the Lead Investors, will separately subscribe to and VIH will allot and issue to the Lead Investors a total of up to US$175 million Convertible Class A Preferred Shares of VIH, with an option for VIH to allot and issue up to US$50 million Convertible Class A Preferred Shares to such follower investors as may be agreed among VIH, PLDT and the Lead Investors, or the upsize option. On November 26, 2018, PLDT, IFC and IFC EAF, a fund managed by IFC Asset Management Company, entered into subscription agreements under which IFC and IFC EAF, the follower investors, will separately subscribe to and VIH will allot and issue to the follower investors a total of up to US$40 million Convertible Class A Preferred Shares of VIH pursuant to the upsize option. The foregoing investment in VIH is not subject to the compulsory merger notification regime under the Philippine Competition Act and its implementing Rules and Regulations. In addition, the Bangko Sentral ng Pilipinas confirmed that it interposes no objection to the investment. On November 28, 2018, VIH received the US$175 million funding from KRR and Tencent. Subsequently, VIH received the US$40 million funding from IFC and IFC EAF. As a result, PCEV’s ownership was reduced to 48.74% and retained only two out of the five Board seats in VIH, which resulted to a loss of control. Upon the loss of control, VIH was deconsolidated and the fair market value of the investment amounting to Php10,748 million was recorded as an investment in associate and PCEV recognized gain on deconsolidation amounting to Php12,054 million, which was presented as part of other income (expenses) – net account in our consolidated income statement. The carrying value of PCEV’s investment in VIH amounted to Php10,487 million as at December 31, 2018. See Note 10 – Investments in Associates and Joint Ventures – Investment in PCEV in VIH . ePLDT’s Additional Investment in ePDS On March 5, 2018 and August 7, 2018, the Board of Directors of ePLDT approved the additional investment in ePDS amounting to Php134 million and Php66 million, respectively, thereby increasing its equity interest in ePDS from 67% to 95%. This transaction was eliminated in our consolidated financial statements. |
New and Amended Standards and Interpretations | New and Amended Standards and Interpretations The accounting policies adopted are consistent with those of the previous financial year, except that the we have adopted the following new standards and amendments starting January 1, 2018. Except for the adoption of IFRS 9, Financial Instruments (2014) Revenue from Contract with Customers • Amendments to , Insurance Contracts, Applying , Financial Instruments, with , Insurance Contract • Amendments to International Accounting Standards, or IAS, 28 , Measuring an Associate or Joint Venture at Fair Value • Amendments to IAS 40 , Investment Property, Transfers of Investment Property • International Financial Reporting Interpretations Committee, or IFRIC, 22 , Foreign Currency Transactions and Advance Consideration • Amendment to First-time Adoption of International Financial Reporting Standards, Deletion of short-term Exemptions for First-time Adopters • IFRS 9 We have adopted IFRS 9 with a date of initial application of January 1, 2018. IFRS 9 replaces IAS 39, Financial Instruments: Recognition and Measurement We chose not to restate comparative figures as permitted by the transitional provisions of IFRS 9, thereby resulting in the following impact: • Comparative information for prior periods was not restated. The classification and measurement requirements previously applied in accordance with IAS 39 and disclosures required in IFRS 7 were retained for the comparative periods. Accordingly, the information presented for 2017 does not reflect the requirements of IFRS 9. • We disclosed the accounting policies for both the current period and the comparative periods, one applying IFRS 9 beginning January 1, 2018 and one applying IAS 39 as at December 31, 2017. • The difference between the previous carrying amount and the carrying amount at the beginning of the annual reporting period that includes the date of initial application was recognized in the opening retained earnings or other component of equity, as appropriate. • As comparative information was not restated, we are not required to provide a third statement of financial information at the beginning of the earliest comparative period in accordance with Presentation of Financial Statements As at January 1, 2018, we have reviewed and assessed all of its existing financial instruments. The following table reconciles the carrying amounts of financial instruments from their previous classification and measurement category in accordance with IAS 39 to their new classification and measurement categories upon transition to IFRS 9 on January 1, 2018. IAS 39 Remeasurement IFRS 9 Reference Category Amount Reclassification ECL Others Amount Category (in million pesos) Financial Assets Cash and cash equivalents Loans and receivables 32,905 — — — 32,905 Amortized Cost Short-term investments Loans and receivables 1,074 — — — 1,074 Amortized Cost Trade and other receivables 3, 5 Loans and receivables 33,761 (4,091 ) (258 ) — 29,412 Amortized Cost Current portion of investment in debt securities and other long-term investments Loans and receivables 100 — — — 100 Amortized Cost Current portion of advances and other noncurrent assets 3, 5 Loans and receivables 6,824 (6,785 ) — — 39 Amortized Cost Less: To Financial instruments at FVPL (6,785 ) To Financial instruments at FVOCI (4,091 ) Advances and other noncurrent assets – net of current portion 3, 5 Loans and receivables 13,855 (11,461 ) (18 ) — 2,376 Amortized Cost Less: To Financial instruments at FVOCI (11,461 ) Investment in debt securities and other long-term investments – net of current portion 2 N/A 150 — — 150 Amortized Cost Add: From HTM investments 150 Loans and receivables 88,519 (22,187 ) (276 ) — 66,056 Amortized Cost Investment in debt securities and other long-term investments – net of current portion 2 Held-to- maturity 150 (150 ) Less: To Financial instruments at amortized cost (150 ) Held-to- maturity 150 (150 ) Current portion of derivative financial assets 1 Derivatives used for hedging 171 (171 ) — — — Derivative financial assets – net of current portion 1 Derivatives used for hedging 215 (215 ) — — — Current portion of derivative financial liabilities 1 Derivatives used for hedging (51 ) 51 — — — Derivative financial liabilities – net of current portion 1 Derivatives used for hedging (8 ) 8 — — — Less: To financial assets at FVPL (327 ) Derivatives used for hedging 327 (327 ) Available-for-sale financial investments 4 Available- for-sale financial investments 15,165 (15,165 ) — — — Less: To financial assets at FVPL (15,165 ) Available- for-sale financial investments 15,165 (15,165 ) — — — Trade and other receivables 3, 5 N/A 4,091 — (8 ) 4,083 FVOCI Advances and other noncurrent assets – net of current portion 3, 5 N/A 11,461 — (128 ) 11,333 FVOCI Add: From Loans and receivables 15,552 15,552 — (136 ) 15,416 FVOCI Current portion of derivative financial assets 1 N/A 171 — — 171 FVPL Derivative financial assets – net of current portion 1 N/A 215 — — 215 FVPL Current portion of derivative financial liabilities 1 N/A (51 ) — — (51 ) FVPL Derivative financial liabilities – net of current portion 1 N/A (8 ) — — (8 ) FVPL Current portion of advances and other noncurrent assets 3 N/A 6,785 — — 6,785 FVPL Available-for-sale financial investments 4 N/A 15,165 — — 15,165 FVPL Add: From Loans and receivables 6,785 — — — From Available-for-sale financial investments 15,165 — — — From Derivatives used for hedging 327 — — — 22,277 — — 22,277 FVPL (1) (2) (3) (4) (5) Classification and measurement Except for certain trade receivables, under IFRS 9, we initially measure a financial asset at its fair value plus, in the case of a financial asset not at FVPL, transaction costs that are directly attributable to the acquisition or issue of the financial asset. Under IFRS 9, debt financial instruments are subsequently measured at FVPL, amortized cost, or FVOCI with recycling of gains or losses to profit or loss upon derecognition. The classification is based on two criteria: (1) whether the instruments’ contractual cash flows represent ‘solely payments of principal and interest’ on the principal amount outstanding, or the SPPI criterion; and (2) our business model for managing the financial assets portfolio. A debt instrument is measured at amortized cost if the cash flows are considered as SPPI and business model’s objective is to hold assets to collect contractual cash flows, and is not designated as at FVPL. This category includes cash and cash equivalents, short-term investments, trade and other receivables, debt instruments at amortized cost and other financial assets – net of current portion. A debt instrument is measured at FVOCI if the cash flows are considered as SPPI and business model’s objective is both hold assets to collect contractual cash flows and sell financial assets, and is not designated as at FVPL. On initial recognition of equity instruments that are not held for trading, we may irrevocably elect to present subsequent changes in the investment’s fair value in other comprehensive income. This election is made on an investment-by-investment basis. All financial assets not classified as measured at amortized cost or FVOCI as described above are measured at FVPL. Financial assets at FVPL include all derivative instruments, equity instruments that are held for trading and equity instruments that are not held for trading which we have not irrevocably elected, at initial recognition or transition, to classify at FVOCI. This category also include debt instruments whose cash flow characteristic meet the SPPI criterion, but business model is neither hold assets to collect contractual cash flows nor collecting contractual cash flows and selling financial assets. We have not elected the option to irrevocably designate previous available-for-sale equity instruments as equity instruments at FVOCI. Quoted and unquoted equity securities that were previously classified as AFS financial assets under IAS 39 were reclassified as financial assets at FVPL upon adoption of IFRS 9. Upon transition, the AFS reserve relating to these equity securities, which had been previously accumulated under other comprehensive income, was reclassified to retained earnings. The assessment of our business models was made as at the date of initial application, January 1, 2018, and applied modified retrospectively to those financial assets that were not derecognized before January 1, 2018. The assessment of whether contractual cash flows on debt instruments are solely payments of principal and interest was made based on the facts and circumstances as at the initial recognition of the assets. The effect of adopting IFRS 9 as at January 1, 2018 were, as follows: Reference Increase (Decrease) (in million pesos) Assets: Financial assets at FVOCI 3 (136 ) Total assets (136 ) Total adjustment on equity: Retained earnings 4 4,491 Other comprehensive income 4 (4,627 ) (136 ) Impairment IFRS 9 requires recording of expected credit losses, or ECL, for all debt securities not classified as at FVPL, together with contract assets, lease receivables, loan commitments and financial guarantee contracts. ECL represents credit losses that reflect an unbiased and probability-weighted amount which is determined by evaluating a range of possible outcomes, the time value of money and reasonable and supportable information about past events, current conditions and forecasts of future economic conditions. In comparison, the incurred loss model under IAS 39 recognizes lifetime credit losses only when there is objective evidence of impairment. The ECL model eliminates the loss event required under the incurred loss model, and lifetime ECL is recognized earlier under IFRS 9. The objective of the new impairment model is to record lifetime losses on all financial assets which have experienced a significant increase in credit risk from initial recognition. As a result, ECL allowances will be measured at amounts equal to either: (i) 12-month ECL; or (ii) lifetime ECL for those financial instruments which have experienced a significant increase in credit risk since initial recognition (General Approach). The 12-month ECL is the portion of lifetime ECL that results from default events on a financial instrument that are possible within the 12 months after the reporting date. Lifetime ECL are credit losses that results from all possible default events over the expected life of a financial instrument. The credit risk of a particular exposure is deemed to have increased significantly since initial recognition if, based on our internal credit assessment, the counterparty is determined to require close monitoring or with well-defined credit weakness. Financial assets have the following staging assessments, depending on the quality of the credit exposures: For non-credit-impaired financial assets: • Stage 1 financial assets are comprised of all non-impaired financial instruments which have not experienced a significant increase in credit risk since initial recognition. We recognize a 12-month ECL for Stage 1 financial assets. • Stage 2 financial assets are comprised of all non-impaired financial assets which have experienced a significant increase in credit risk since initial recognition. We recognize a lifetime ECL for Stage 2 financial assets. For credit-impaired financial assets: • Financial assets are classified as Stage 3 when there is objective evidence of impairment as a result of one or more loss events that have occurred after initial recognition with a negative impact on the estimated future cash flows of a loan or a portfolio of loans. The ECL model requires that lifetime ECL be recognized for impaired financial assets. IFRS 9 provides some operational simplifications for trade receivables, lease receivables and contract assets by introducing an alternative simplified approach. Under the simplified approach, there is no more requirement to determine at reporting date whether a credit exposure has significantly increased in credit risk or not. Credit exposures under the simplified approach will be subject only to lifetime ECL. In addition, IFRS 9 allows the use of a provision matrix approach or a loss rate approach as a practical expedient when measuring ECL for certain short-term financial assets, so long as these methodologies reflects a probability-weighted outcome, the time value of money and reasonable and supportable information that is available without undue cost or effort at the reporting date, about past events, current conditions and forecasts of future economic conditions. The risk of a default occurring represents the likelihood that a credit exposure will not be repaid and will go into default in either a 12-month ECL for Stage 1 assets or lifetime ECL for Stages 2 and 3 assets. The risk of a default occurring for each individual instrument is modelled based on historical data and is estimated based on current market conditions and reasonable and supportable information about future economic conditions. We segmented the credit exposures based on homogenous risk characteristics and applied a specific ECL methodology for each portfolio. The methodology for each relevant portfolio is determined based on the underlying nature or characteristic of the portfolio, payment patterns and materiality of the segment as compared to the total portfolio. The magnitude of default represents the amount that may not be recovered in the event of default and is determined based on the historical cash flow recoveries and reasonable and supportable information about future economic conditions, where appropriate. We applied the simplified approach and record lifetime ECL on all trade receivables and contract assets. For other debt financial assets measured at amortized cost, the general approach was applied, measuring either a 12-month or lifetime ECL, depending on the extent of the deterioration of the credit quality from origination. The table below presents a reconciliation of the prior period’s closing impairment allowance measured in accordance with IAS 39 to the opening impairment allowance determined in accordance with IFRS 9 as at January 1, 2018. Measurement category Reference Impairment allowance under IAS 39 Retained earnings, beginning Remeasurement Impairment allowance under IFRS 9 (in million pesos) Loans and receivables (IAS 39)/ Financial assets at amortized cost (IFRS 9) Trade and other receivables 5 14,501 258 14,759 Contract assets 5 — 114 114 Other financial assets 5 — 18 18 14,501 390 14,891 Under IFRS 9, the level of provision for credit and impairment losses has generally increased due to the incorporation of a more forward-looking approach in determining provisions. Further, since the implementation of IFRS 9, all financial assets except those measured at FVPL and equity instruments FVOCI are assessed for at least 12-month ECL and the population of financial assets to which the lifetime ECL applies is larger than the population for which there is objective evidence of impairment in accordance with IAS 39. Hedge accounting The new hedge accounting model under IFRS 9 aims to simplify hedge accounting, align the accounting for hedge relationships more closely with an entity’s risk management activities and permit hedge accounting to be applied more broadly to a greater variety of hedging instruments and risks eligible for hedge accounting. We determined that all existing hedge relationships that are currently designated in effective hedging relationships will continue to qualify for hedge accounting under IFRS 9. We have chosen not to retrospectively apply IFRS 9 on transition to the hedges where we excluded the forward points from the hedge designation under IAS 39. • IFRS 15 , Revenues from Contracts with Customers IFRS 15 supersedes IAS 11, Construction Contracts Revenue 1. Identify the contract(s) with a customer; 2. Identify the performance obligations in the contract; 3. Determine the transaction price; 4. Allocate the transaction price to the performance obligations in the contract; and 5. Recognize revenue when (or as) the entity satisfies a performance obligation. Under IFRS 15, revenue is recognized at an amount that reflects the consideration to which an entity expects to be entitled in exchange for transferring goods or services to a customer. The standard requires entities to exercise judgment, taking into consideration all of the relevant facts and circumstances when applying each step of the model to contracts with the customers. The standard also specifies the accounting for the incremental costs of obtaining a contract and the costs directly related to fulfilling a contract. Contract assets A contract asset is the right to consideration in exchange for goods or services transferred to the customer. If we perform by transferring goods or services to a customer before the customer pays consideration or before payment is due, a contract asset is recognized for the earned consideration that is conditional. Contract assets are reclassified to trade receivables when billed. Contract liabilities and unearned revenues A contract liability is the obligation to transfer goods or services to a customer for which the we have received consideration (or an amount of consideration is due) from the customer. If a customer pays consideration before we transfer goods or services to the customer, a contract liability is recognized when the payment is made or the payment is due (whichever is earlier). Contract liabilities and unearned revenues are recognized as revenue when we perform under the contract. We adopted IFRS 15 using the modified retrospective method of adoption with the date of initial application of January 1, 2018. Under this method, the standard can be applied either to all contracts at the date of initial application or only to contracts that are not completed at this date. We elected to apply the standard to all contracts that are not completed as at the date of initial application, that is, January 1, 2018. The cumulative effect of initially applying IFRS 15 is recognized at the date of initial application as an adjustment to the opening balance of retained earnings. Accordingly, the information presented for 2017 has not been restated – i.e. it is presented, as previously reported, under IAS 18, IAS 11 and related interpretations. The effect of adopting IFRS 15 as at January 1, 2018 was as follows: Reference Increase (Decrease) (in millions) Assets Trade and other receivables C (37 ) Contract assets B and C 3,880 Deferred income tax assets B and C (918 ) Total assets 2,925 Liabilities Contract liabilities and unearned revenues B and C 178 Deferred income tax liabilities B and C 194 Total liabilities 372 Net impact on equity Retained earnings B and C 2,553 Set out below, are the amounts by which each financial statement line item is affected as at and for the year ended December 31, 2018 as a result of the adoption of IFRS 15. The adoption of IFRS 15 did not have a material impact on other comprehensive income or on our operating, investing and financing cash flows. The first column shows amounts prepared under IFRS 15 and the second column shows what the amounts would have been had IFRS 15 not been adopted. Consolidated statement of profit or loss for the year ended December 31, 2018 Reference IFRS 15 IAS 18 Increase (Decrease) (in millions) Revenue from contracts with customers Service revenues A and C 154,207 157,845 (3,638 ) Non-service revenues A, B and C 10,545 7,602 2,943 Revenue 164,752 165,447 (695 ) Interest income C 1,943 1,486 457 Impairment loss B and C (206 ) — (206 ) Provision for income tax B and C (3,842 ) (3,976 ) 134 Net impact on profit for the year 162,647 162,957 (310 ) Attributable to: Equity holders of parent B and C 162,590 162,900 (310 ) Noncontrolling interests 57 57 — Consolidated statement of financial position for the year ended December 31, 2018 Reference IFRS 15 IAS 18 Increase (Decrease) (in millions) Assets Noncurrent Assets Property and equipment 195,964 195,964 — Investments in associates and joint ventures 55,427 55,427 — Financial assets at fair value through profit or loss 4,763 4,763 — Debt instruments at amortized cost 150 150 — Investment properties 777 777 — Goodwill and intangible assets 68,583 68,583 — Deferred income tax assets – net 27,697 28,530 (833 ) Derivative financial assets - net of current portion 140 140 — Prepayments – net of current portion 6,255 6,255 — Advances and other noncurrent assets – net of current portion 17,083 17,083 — Financial assets at fair value through other comprehensive income – net of current portion 2,749 2,749 — Other financial assets – net of current portion 2,275 2,275 — Contract assets – net of current portion B and C 1,083 — 1,083 Other non-financial assets – net of current portion 230 230 — Total Noncurrent Assets 383,176 382,926 250 Current Assets Cash and cash equivalents 51,654 51,654 — Short-term investments 1,165 1,165 — Trade and other receivables C 24,056 23,958 98 Inventories and supplies 2,878 2,878 — Current portion of contract assets B and C 2,185 — 2,185 Current portion of derivative financial assets 183 183 — Current portion of prepayments 7,760 7,760 — Current portion of advances and other noncurrent assets 620 620 — Current portion of financial assets at fair value through profit or loss 1,604 1,604 — Current portion of other financial assets 7,008 7,008 — Current portion of other non-financial assets 461 461 — Total Current Assets 99,574 97,291 2,283 TOTAL ASSETS 482,750 480,217 2,533 Liabilities and Equity Equity Equity attributable to equity holders of PLDT B and C 112,358 110,115 2,243 Non-controlling interests 4,308 4,308 — Total Equity 116,666 114,423 2,243 Noncurrent Liabilities Interest-bearing financial liabilities – net of current portion 155,835 155,835 — Deferred income tax liabilities 2,981 2,836 145 Customers' deposits 2,194 2,194 — Pension and other employee benefits 7,182 7,182 — Deferred credits and other noncurrent liabilities B and C 5,284 5,226 58 Total Noncurrent Liabilities 173,476 173,273 203 Current Liabilities Accounts payable B and C 74,610 74,610 — Accrued expenses and other current liabilities 95,724 95,637 87 Current portion of interest-bearing financial liabilities 20,441 20,441 — Dividends payable 1,533 1,533 — Derivative financial liabilities 80 80 — Income tax payable 220 220 — Total Current Liabilities 192,608 192,521 87 Total Liabilities 366,084 365,794 290 TOTAL EQUITY AND LIABILITIES 482,750 480,217 2,533 The nature of the adjustments as at January 1, 31, 31, Type of product/service Reference Nature, timing of satisfaction of performance obligations, significant payment terms Nature of change in accounting policy Bundled plans A Revenues are recognized based on the allocation of the transaction price to the different performance obligations based on their stand-alone selling prices. IFRS 15 will have an impact on our accounting policies in the recognition of revenue between service and non-service components. Sale of handset/ equipments B Customers obtain control when the goods are delivered to and have been accepted at their premises. Under IAS 18, non-service revenues are recognized to the extent of monthly amortization / installment plus cash-out for the handset / equipment once they are delivered to the customer. Under IFRS 15, revenue shall be recognized as the performance obligations are satisfied by transferring a promised good or service. The impact of these changes on items other than revenue are recognition of contract assets and contract liabilities and unearned revenues. Significant financing component C We assessed that the non-service component included in contracts with customers have significant financing component considering the period between the customer’s payment of the price of the handset and the timing of the transfer of control over the handset, which is more than one year. Under IFRS 15, an entity shall adjust the promised amount of consideration for the effects of the time value of money if the timing of payments agreed to by the parties to the contract (either explicitly or implicitly) provides the customer or the entity with a significant benefit of financing the transfer of goods or services to the customer. The impact of these changes on items other than revenue are discounting of contract assets and unbilled trade receivables. |
Business Combinations and Goodwill | Business Combinations and Goodwill Business combinations are accounted for using the acquisition method. The cost of an acquisition is measured as the aggregate of the consideration transferred, measured at acquisition date fair value, and the amount of any noncontrolling interest in the acquiree. For each business combination, we elect whether to measure the components of the noncontrolling interest in the acquiree either at fair value or at the proportionate share of the acquiree’s identifiable net assets. Acquisition-related costs are expensed as incurred. When we acquire a business, we assess the financial assets and liabilities assumed for appropriate classification and designation in accordance with the contractual terms, economic circumstances and pertinent conditions as at the acquisition date. This includes the separation of embedded derivatives in host contracts by the acquiree. If the business combination is achieved in stages, the previously held equity interest is remeasured at its acquisition date fair value and any resulting gain or loss is recognized in profit or loss. The fair value of previously held equity interest is then included in the amount of total consideration transferred. Any contingent consideration to be transferred by the acquirer will be recognized at fair value at the acquisition date. Contingent consideration classified as an asset or liability is measured at fair value with changes in fair value recognized in profit or loss. Contingent consideration that is classified as equity is not remeasured and subsequent settlement is accounted for within equity. Goodwill is initially measured at cost, being the excess of the aggregate of the consideration transferred and the amount recognized for noncontrolling interests and any previous interest held, over the net identifiable assets acquired and liabilities assumed. If the fair value of the net assets acquired is in excess of the aggregate consideration transferred, we reassess whether we correctly identified all of the assets acquired and all of the liabilities assumed and review the procedures used to measure the amounts to be recognized at the acquisition date. If the reassessment still results in an excess of the fair value of net assets acquired over the aggregate consideration transferred, then the gain on a bargain purchase is recognized in profit or loss. If the initial accounting for a business combination is incomplete by the end of the reporting period in which the combination occurs, we report in our consolidated financial statements provisional amounts for the items for which the accounting is incomplete. During the measurement period, which is no longer than one year from the acquisition date, the provisional amounts recognized at acquisition date are retrospectively adjusted to reflect new information obtained about facts and circumstances that existed as of the acquisition date and, if known, would have affected the measurement of the amounts recognized as of that date. During the measurement period, we also recognize additional assets or liabilities if new information is obtained about facts and circumstances that existed as of the acquisition date and, if known, would have resulted in the recognition of those assets and liabilities as of that date. After initial recognition, goodwill is measured at cost less any accumulated impairment losses. For the purpose of impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated to each of our cash-generating units, or CGUs, that are expected to benefit from the combination, irrespective of whether other assets or liabilities of the acquiree are assigned to those units. Where goodwill acquired in a business combination has yet to be allocated to identifiable CGUs because the initial accounting is incomplete, such provisional goodwill is not tested for impairment unless indicators of impairment exist and we can reliably allocate the carrying amount of goodwill to a CGU or group of CGUs that are expected to benefit from the synergies of the business combination. Where goodwill has been allocated to a CGU and part of the operation within that unit is disposed of, the goodwill associated with the operation disposed of is included in the carrying amount of the operation when determining the gain or loss on disposal of the operation. Goodwill disposed of in this circumstance is measured based on the relative values of the disposed operation and the portion of the CGU retained. |
Investments in Associates | Investments in Associates An associate is an entity in which we have significant influence. Significant influence is the power to participate in the financial and operating policy decisions of the investee but has no control nor joint control over those policies. The existence of significant influence is presumed to exist when we hold 20% or more, but less than 50% of the voting power of another entity. Significant influence is also exemplified when we have one or more of the following: (a) a representation on the board of directors or the equivalent governing body of the investee; (b) participation in policy-making processes, including participation in decisions about dividends or other distributions; (c) material transactions with the investee; (d) interchange of managerial personnel with the investee; or (e) provision of essential technical information. Investments in associates are accounted for using the equity method of accounting and are initially recognized at cost. The cost of the investments includes directly attributable transaction costs. The details of our investments in associates are disclosed in Note 10 – Investments in Associates and Joint Ventures – Investments in Associates Under the equity method, an investment in an associate is carried at cost plus post acquisition changes in our share of net assets of the associate. Goodwill relating to an associate is included in the carrying amount of the investment and is not amortized nor individually tested for impairment. Our consolidated income statement reflects our share in the financial performance of our associates. Where there has been a change recognized directly in the equity of the associate, we recognize our share in such change and disclose this, when applicable, in our consolidated statement of comprehensive income and consolidated statement of changes in equity. Unrealized gains and losses resulting from our transactions with and among our associates are eliminated to the extent of our interests in those associates. Our share in the profits or losses of our associates is included under “Other income (expenses)” in our consolidated income statement. This is the profit or loss attributable to equity holders of the associate and therefore is profit or loss after tax and net of noncontrolling interest in the subsidiaries of the associate. When our share of losses exceeds our interest in an associate, the carrying amount of the investment, including any long-term interests that form part thereof, is reduced to zero, and the recognition of further losses is discontinued except to the extent that we have an obligation or have made payments on behalf of the investee. Our reporting dates and that of our associates are identical and our associates’ accounting policies conform to those used by us for like transactions and events in similar circumstances. When necessary, adjustments are made to bring such accounting policies in line with our policies. After application of the equity method, we determine whether it is necessary to recognize an additional impairment loss on our investments in associates. We determine at the end of each reporting period whether there is any objective evidence that our investment in associate is impaired. If this is the case, we calculate the amount of impairment as the difference between the recoverable amount of our investment in the associate and its carrying value and recognize the amount in our consolidated income statement. Upon loss of significant influence over the associate, we measure and recognize any retained investment at its fair value. Any difference between the carrying amounts of our investment in the associate upon loss of significant influence and the fair value of the remaining investment and proceeds from disposal is recognized in our consolidated financial statements. |
Joint Arrangements | Joint Arrangements Joint arrangements are arrangements with respect to which we have joint control, established by contracts requiring unanimous consent from the parties sharing control for decisions about the activities that significantly affect the arrangements’ returns. They are classified and accounted for as follows: • Joint operation – when we have rights to the assets, and obligations for the liabilities, relating to an arrangement, we account for each of our assets, liabilities and transactions, including our share of those held or incurred jointly, in relation to the joint operation in accordance with the IFRS applicable to the particular assets, liabilities and transactions. • Joint venture – when we have rights only to the net assets of the arrangements, we account for our interest using the equity method, the same as our accounting for investments in associates. The financial statements of the joint venture are prepared for the same reporting period as our consolidated financial statements. Where necessary, adjustments are made to bring the accounting policies of the joint venture in line with our policies. The details of our investments in joint ventures are disclosed in Note 10 – Investments in Associates and Joint Ventures – Investments in Joint Ventures Adjustments are made in our consolidated financial statements to eliminate our share of unrealized gains and losses on transactions between us and our joint venture. Our investment in the joint venture is carried at equity method until the date on which we cease to have joint control over the joint venture. Upon loss of joint control over the joint venture, we measure and recognize our retained investment at fair value. Any difference between the carrying amount of the former joint venture upon loss of joint control and the fair value of the remaining investment and proceeds from disposal is recognized in profit or loss. When the remaining investment constitutes significant influence, it is accounted for as an investment in an associate with no remeasurement. |
Current Versus Noncurrent Classifications | Current Versus Noncurrent Classifications We present assets and liabilities in our consolidated statement of financial position based on current or noncurrent classification. An asset is current when it is: • Expected to be realized or intended to be sold or consumed in the normal operating cycle; • Held primarily for the purpose of trading; • Expected to be realized within twelve months after the reporting period; or • Cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period. All other assets are classified as noncurrent. A liability is current when: • It is expected to be settled in the normal operating cycle; • It is held primarily for the purpose of trading; • It is due to be settled within twelve months after the reporting period; or • There is no unconditional right to defer the settlement of the liability for at least twelve months after the period. We classify all other liabilities as noncurrent. Deferred income tax assets and liabilities are classified as noncurrent assets and liabilities, respectively. |
Foreign Currency Transactions and Translations | Foreign Currency Transactions and Translations Our consolidated financial statements are presented in Philippine peso, which is also the Parent Company’s functional currency. The Philippine peso is the currency of the primary economic environment in which we operate. This is also the currency that mainly influences the revenue from and cost of rendering products and services. Each entity in our Group determines its own functional currency and items included in the separate financial statements of each entity are measured using that functional currency. The functional and presentation currency of the entities under PLDT Group (except for the subsidiaries discussed below) is the Philippine peso. Transactions in foreign currencies are initially recorded by entities under our Group at the respective functional currency rates prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the functional currency closing rate of exchange prevailing at the end of the reporting period. All differences arising on settlement or translation of monetary items are recognized in our consolidated income statement except for foreign exchange differences that qualify as capitalizable borrowing costs for qualifying assets. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated using the exchange rates as at the dates of the initial transactions. Non-monetary items measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The gain or loss arising from transactions of non-monetary items measured at fair value is treated in line with the recognition of this gain or loss on the change in fair value of the items (i.e., translation differences on items whose fair value gain or loss is recognized in other comprehensive income or profit or loss are also recognized in other comprehensive income or profit or loss, respectively). The functional currency of SMHC, FECL Group, PLDT Global and certain of its subsidiaries, Digitel Capital Philippines Ltd., or DCPL, PGNL and certain of its subsidiaries, Chikka and certain of its subsidiaries and PGIC is the U.S. dollar; the functional currency of VIP, VIH, VII, VIS, iCommerce, Fintech Ventures, 3 rd When there is a change in an entity’s functional currency, the entity applies the translation procedures applicable to the new functional currency prospectively from the date of the change. The entity translates all assets and liabilities into the new functional currency using the exchange rate at the date of the change. The resulting translated amounts for non-monetary items are treated as the new historical cost. Exchange differences arising from the translation of a foreign operation previously recognized in other comprehensive income are not reclassified from equity to profit or loss until the disposal of the operation. Foreign exchange gains or losses of the Parent Company and our Philippine-based subsidiaries are treated as taxable income or deductible expenses in the period such exchange gains or losses are realized. Any goodwill arising on the acquisition of a foreign operation and any fair value adjustments to the carrying amounts of assets and liabilities arising on the acquisition are treated as assets and liabilities of the foreign operation and translated at the closing rate as at reporting date. |
Financial Instruments | Financial Instruments Beginning January 1, 2018 Financial Instruments – Initial recognition and subsequent measurement Classification of financial assets Financial assets are classified in their entirety based on the contractual cash flows characteristics of the financial assets and our business model for managing the financial assets. We classify our financial assets into the following measurement categories: • financial assets measured at amortized cost; • financial assets measured at FVPL; • financial assets measured at FVOCI, where cumulative gains or losses previously recognized are reclassified to profit or loss; and • financial assets measured at FVOCI, where cumulative gains or losses previously recognized are not reclassified to profit or loss. Contractual cash flows characteristics In order for us to identify the measurement of our debt financial assets, an SPPI test needs to be initially performed in order to determine whether the contractual terms of the financial asset gives rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. Once a debt financial asset passed the SPPI test, business model assessment, which identifies our objective of holding the financial assets – hold to collect or hold to collect and sell, will be performed. Otherwise, if the debt financial asset failed the test, such will be measured at FVPL. In making the assessment, we determine whether the contractual cash flows are consistent with a basic lending arrangement, i.e., interest includes consideration only for the time value of money, credit risk and other basic lending risks and costs associated with holding the financial asset for a particular period of time. In addition, interest can include a profit margin that is consistent with a basic lending arrangement. The assessment as to whether the cash flows meet the SPPI test is made in the currency in which the financial asset is denominated. Any other contractual terms that introduce exposure to risks or volatility in the contractual cash flows that is unrelated to a basic lending arrangement, such as exposure to changes in equity prices or commodity prices, do not give rise to contractual cash flows that are solely payments of principal and interest on the principal amount outstanding. Business model Our business model is determined at a level that reflects how groups of financial assets are managed together to achieve a particular business objective. Our business model does not depend on management’s intentions for an individual instrument. Our business model refers to how we manage our financial assets in order to generate cash flows. Our business model determines whether cash flows will result from collecting contractual cash flows, collecting contractual cash flows and selling financial assets or neither. Financial assets at amortized cost A financial asset is measured at amortized cost if: (i) it is held within a business model whose objective is to hold financial assets in order to collect contractual cash flows; and (ii) the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. These financial assets are initially recognized at fair value plus directly attributable transaction costs and subsequently measured at amortized cost using the EIR method, less any impairment in value. Amortized cost is calculated by taking into account any discount or premium on acquisition and fees and costs that are an integral part of the EIR. The amortization is included in ‘Interest income’ in our consolidated income statements and is calculated by applying the EIR to the gross carrying amount of the financial asset, except for (i) purchased or originated credit-impaired financial assets and Our financial assets at amortized cost include portions of investment in debt securities and other long-term investments, cash and cash equivalents, short-term investments, trade and other receivables, and portions of advances and other noncurrent assets as at December 31, 2018. See Note 12 – Debt Instruments at Amortized Cost/Investment in Debt Securities and Other Long-term Investments, Note 15 – Cash and Cash Equivalents, Note 16 – Trade and Other Receivables Note 27 – Financial Assets and Liabilities. Financial assets at FVOCI (debt instruments) A financial asset is measured at FVOCI if: (i) it is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets; and (ii) its contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. These financial assets are initially recognized at fair value plus directly attributable transaction costs and subsequently measured at fair value. Gains and losses arising from changes in fair value are included in other comprehensive income within a separate component of equity. Impairment losses or reversals, interest income and foreign exchange gains and losses are recognized in profit and loss until the financial asset is derecognized. Upon derecognition, the cumulative gain or loss previously recognized in other comprehensive income is reclassified from equity to profit or loss. This reflects the gain or loss that would have been recognized in profit or loss upon derecognition if the financial asset had been measured at amortized cost. Impairment is measured based on the ECL model. Our financial assets at FVOCI include receivables from MPIC as at December 31, 2018. See Note 24 – Related Party Transactions Note 27 – Financial Assets and Liabilities Financial assets at FVPL Financial assets at FVPL are measured at fair value. Included in this classification are derivative financial assets, equity investments held for trading and debt instruments with contractual terms that do not represent solely payments of principal and interest. Financial assets held at FVPL are initially recognized at fair value, with transaction costs recognized in our consolidated income statements as incurred. Subsequently, they are measured at fair value and any gains or losses are recognized in our consolidated income statements. Additionally, even if the asset meets the amortized cost or the FVOCI criteria, we may choose at initial recognition to designate the financial asset at FVPL if doing so eliminates or significantly reduces a measurement or recognition inconsistency (an accounting mismatch) that would otherwise arise from measuring financial assets on a different basis. Trading gains or losses are calculated based on the results arising from trading activities of the PLDT Group, including all gains and losses from changes in fair value for financial assets and financial liabilities at FVPL, and the gains or losses from disposal of financial investments. Our financial assets at FVPL include derivative financial assets and equity investments as at December 31, 2018. See Note 11 – Financial Assets at FVPL/Available-for-Sale Financial Investments Note 27 – Financial Assets and Liabilities. Classification of financial liabilities Financial liabilities are measured at amortized cost, except for the following: • financial liabilities measured at FVPL; • financial liabilities that arise when a transfer of a financial asset does not qualify for derecognition or when we retain continuing involvement; • financial guarantee contracts; • commitments to provide a loan at a below-market interest rate; and • contingent consideration recognized by an acquirer in accordance with IFRS 3. A financial liability may be designated at FVPL if it eliminates or significantly reduces a measurement or recognition inconsistency (an accounting mismatch) or: • if a host contract contains one or more embedded derivatives; or • if a group of financial liabilities or financial assets and liabilities is managed and its performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy. Where a financial liability is designated at FVPL, the movement in fair value attributable to changes in our own credit quality is calculated by determining the changes in credit spreads above observable market interest rates and is presented separately in other comprehensive income. Our financial liabilities at FVPL include long-term principal only-currency swaps and interest rate swaps as at December 31, 2018. See Note 27 – Financial Assets and Liabilities. Our other financial liabilities include interest-bearing financial liabilities, customers’ deposits, dividends payable, and accrual for long-term capital expenditures, (except for statutory payables) as at December 31, 2018. See Note 20 – Interest-bearing Financial Liabilities. Reclassifications of financial instruments We reclassify our financial assets when, and only when, there is a change in the business model for managing the financial assets. Reclassifications shall be applied prospectively and any previously recognized gains, losses or interest shall not be restated. We do not reclassify our financial liabilities. We do not reclassify its financial assets when: • A financial asset that was previously a designated and effective hedging instrument in a cash flow hedge or net investment hedge no longer qualifies as such; • A financial asset becomes a designated and effective hedging instrument in a cash flow hedge or net investment hedge; and • There is a change in measurement on credit exposures measured at FVPL. Impairment of Financial Assets We recognize ECL for the following financial assets that are not measured at FVPL: • debt instruments that are measured at amortized cost and FVOCI No ECL is recognized on equity investments. ECLs are measured in a way that reflects the following: • an unbiased and probability-weighted amount that is determined by evaluating a range of possible outcomes; • the time value of money; and • reasonable and supportable information that is available without undue cost or effort at the reporting date about past events, current conditions and forecasts of future economic conditions. Financial assets migrate through the following three stages based on the change in credit quality since initial recognition: Stage 1: 12-month ECL For credit exposures where there have not been significant increases in credit risk since initial recognition and that are not credit-impaired upon origination, the portion of lifetime ECLs that represent the ECLs that result from default events that are possible within the 12-months after the reporting date are recognized. Stage 2: Lifetime ECL – not credit-impaired For credit exposures where there have been significant increases in credit risk since initial recognition on an individual or collective basis but are not credit-impaired, lifetime ECLs representing the ECLs that result from all possible default events over the expected life of the financial asset are recognized. Stage 3: Lifetime ECL – credit-impaired Financial assets are credit-impaired when one or more events that have a detrimental impact on the estimated future cash flows of those financial assets have occurred. For these credit exposures, lifetime ECLs are recognized and interest revenue is calculated by applying the credit-adjusted effective interest rate to the amortized cost of the financial asset. Loss allowance Loss allowances are recognized based on 12-month ECL for debt investment securities that are assessed to have low credit risk at the reporting date. A financial asset is considered to have low credit risk if: • the financial instrument has a low risk of default; • the counterparty has a strong capacity to meet its contractual cash flow obligations in the near term; and • adverse changes in economic and business conditions in the longer term may, but will not necessarily, reduce the ability of the counterparty to fulfill its contractual cash flow obligations. We consider a debt investment security to have low credit risk when its credit risk rating is equivalent to the globally understood definition of ‘investment grade’, or when the exposure is less than 30 days past due. The loss allowance recognized in the period is impacted by a variety of factors, as described below: • Transfers between Stage 1 and Stage 2 and 3 due to the financial instruments experiencing significant increases (or decreases) of credit risk or becoming credit-impaired in the period, and the consequent “step up” (or “step down”) between 12-month and lifetime ECL; • Additional allowances for new financial instruments recognized during the period, as well as releases for financial instruments derecognized in the period; • Impact on the measurement of ECL due to changes in probability of defaults, or PDs, loss given defaults, or LGDs, and exposure at defaults, or EADs, in the period, arising from regular refreshing of inputs to models; • Impacts on the measurement of ECL due to changes made to models and assumptions; • Unwinding of discount within ECL due to passage of time, as ECL is measured on a present value basis; and • Financial assets derecognized during the period and write-offs of allowances related to assets that were written off during the period. Write-off policy We write-off a financial asset measured at amortized cost, in whole or in part, when the asset is considered uncollectible, it has exhausted all practical recovery efforts and has concluded that it has no reasonable expectations of recovering the financial asset in its entirety or a portion thereof. We write-off an account when all of the following conditions are met: • the asset is in past due for over 90 days, or is already an item-in-litigation with any of the following: a. no properties of the counterparty could be attached b. the whereabouts of the client cannot be located c. it would be more expensive for the Group to follow-up and collect the amount, hence the we have ceased enforcement activity, and d. collections can no longer be made due to insolvency or bankruptcy of the counterparty • expanded credit arrangement is no longer possible; • filing of legal case is not possible; and • the account has been classified as ‘Loss’. Simplified approach The simplified approach, where changes in credit risk are not tracked and loss allowances are measured at amounts equal to lifetime ECL, is applied to ‘Trade and other receivables’ and ‘Contract assets’. We have established a provision matrix for billed trade receivables and a vintage analysis for contract assets and unbilled trade receivables that is based on historical credit loss experience, adjusted for forward-looking factors specific to the debtors and the economic environment. Prior to January 1, 2018 Financial Instruments – Initial recognition and subsequent measurement Financial Assets Initial recognition and measurement Financial assets within the scope of IAS 39 Financial assets are recognized initially at fair value plus transaction costs that are attributable to the acquisition of the financial asset, except in the case of financial assets recorded at FVPL. Purchases or sales of financial assets that require delivery of assets within a time frame established by regulation or convention in the market place (regular way purchases or sales) are recognized on the trade date, i.e., the date that we commit to purchase or sell the asset. Subsequent measurement The subsequent measurement of financial assets depends on the classification as described below: Financial assets at FVPL Financial assets at FVPL include financial assets held-for-trading and financial assets designated upon initial recognition at FVPL. Financial assets are classified as held-for-trading if they are acquired for the purpose of selling or repurchasing in the near term. Derivative assets, including separated embedded derivatives, are also classified as held-for-trading unless they are designated as effective hedging instruments as defined by IAS 39. Financial assets at FVPL are carried in our consolidated statement of financial position at fair value with net changes in fair value recognized in our consolidated income statement under “Other income (expenses) – Gains (losses) on derivative financial instruments – net” for derivative instruments and “Other income (expenses) – Others” for non-derivative financial assets. Interest earned and dividends received from financial assets at FVPL are recognized in our consolidated income statement under “Other income (expenses) – Interest income” and “Other income (expenses) – Others”, respectively. Financial assets may be designated at initial recognition as at FVPL if any of the following criteria are met: An embedded derivative is separated from the host contract and accounted for as a derivative if all of the following conditions are met: (a) the economic characteristics and risks of the embedded derivatives are not closely related to the economic characteristics and risks of the host contract; (b) a separate instrument with the same terms as the embedded derivative would meet the definition of a derivative; and (c) the hybrid or combined instrument is not recognized at FVPL. These embedded derivatives are measured at fair value with gains or losses arising from changes in fair value recognized in our consolidated income statement. Reassessment only occurs if there is a change in the terms of the contract that significantly modifies the cash flows that would otherwise be required. Our financial assets at FVPL include listed and unlisted equity securities and portions of derivative financial assets as at December 31, 2017. See Note 27 – Financial Assets and Liabilities. Loans and receivables Loans and receivables are non-derivative financial assets with fixed or determinable payments which are not quoted in an active market. After initial measurement, such financial assets are carried at amortized cost using the EIR method less impairment. This method uses an EIR that exactly discounts the estimated future cash payments or receipts over the expected life of the financial instrument or a shorter period, where appropriate, to the net carrying amount of the financial asset. Gains and losses are recognized in our consolidated income statement when the loans and receivables are derecognized or impaired, as well as through the amortization process. Interest earned is recorded in “Other income (expenses) – Interest income” in our consolidated income statement. Assets in this category are included in the current assets except for those with maturities greater than 12 months after the end of the reporting period, which are classified as noncurrent assets. Our loans and receivables include portions of investment in debt securities and other long-term investments, cash and cash equivalents, short-term investments, trade and other receivables, and portions of advances and other noncurrent assets as at December 31, 2017. See Note 12 – Debt Instruments at Amortized Cost/ Investment in Debt Securities and Other Long-term Investments, Note 15 – Cash and Cash Equivalents, Note 16 – Trade and Other Receivables Note 27 – Financial Assets and Liabilities. HTM investments Non-derivative financial assets with fixed or determinable payments and fixed maturities are classified as HTM when we have the positive intention and ability to hold it to maturity. After initial measurement, HTM investments are measured at amortized cost using the EIR method. Gains or losses are recognized in our consolidated income statement when the investments are derecognized or impaired, as well as through the amortization process. Interest earned is recorded in “Other income (expenses) – Interest income” in our consolidated income statement. Assets in this category are included in current assets except for those with maturities greater than 12 months after the end of the reporting period, which are classified as noncurrent assets. Our HTM investments include portions of investment in debt securities and other long-term investments as at December 31, 2017. See Note 12 – Debt Instruments at Amortized Cost/Investment in Debt Securities and Other Long-term Investments Note 27 – Financial Assets and Liabilities. Available-for-sale financial investments Available-for-sale financial investments include equity investments and debt securities. Equity investments classified as available-for-sale are those that are neither classified as held-for-trading nor designated at FVPL. Debt securities in this category are those that are intended to be held for an indefinite period of time and that may be sold in response to liquidity requirements or in response to changes in the market conditions. After initial measurement, available-for-sale financial investments are subsequently measured at fair value with unrealized gains or losses recognized in other comprehensive income in the “Net gains (losses) on available-for-sale financial investments – net of tax” account until the investment is derecognized, at which time the cumulative gain or loss recorded in other comprehensive income is recognized in our consolidated income statement; or the investment is determined to be impaired, at which time the cumulative loss recorded in other comprehensive income is recognized in “Other income (expense) – net” in our consolidated income statement. Available-for-sale investments in equity instruments that do not have a quoted price in an active market and whose fair value cannot be reliably measured shall be measured at cost. Interest earned on holding available-for-sale financial investments are included under “Other income (expenses) – Interest income” using the EIR method in our consolidated income statement. Dividends earned on holding available-for-sale equity investments are recognized in our consolidated income statement under “Other income (expenses) – net” when the right to receive payment has been established. These financial assets are included under noncurrent assets unless we intend to dispose of the investment within 12 months from the end of the reporting period. We evaluate whether the ability and intention to sell our available-for-sale financial investments in the near term is still appropriate. When, in rare circumstances, we are unable to trade these financial investments due to inactive markets and management’s intention to do so significantly changes in the foreseeable future, we may elect to reclassify these financial investments. Reclassification to loans and receivables is permitted when the financial investments meet the definition of loans and receivables and we have the intent and ability to hold these assets for the foreseeable future. Reclassification to the HTM category is permitted only when the entity has the ability and intention to hold the financial investment to maturity accordingly. For a financial investment reclassified from the available-for-sale category, the fair value at the date of reclassification becomes its new amortized cost and any previous gain or loss on the asset that has been recognized in other comprehensive income is amortized to profit or loss over the remaining life of the investment using the EIR method. Any difference between the new amortized cost and the maturity amount is also amortized over the remaining life of the asset using the EIR method. If the asset is subsequently determined to be impaired, then the amount recorded in other comprehensive income is reclassified to our consolidated income statement. Our available-for-sale financial investments include listed and unlisted equity securities as at December 31, 2017. See Note 11 – Financial Assets at FVPL/Available-for-Sale Financial Investments Note 27 – Financial Assets and Liabilities. Financial Liabilities Initial recognition and measurement Financial liabilities are classified as financial liabilities at FVPL, other financial liabilities or as derivatives designated as hedging instruments in an effective hedge, as appropriate. We determine the classification of our financial liabilities at initial recognition. Financial liabilities are recognized initially at fair value and, in the case of loans and borrowings, net of directly attributable transaction costs. Subsequent measurement The subsequent measurement of financial liabilities depends on their classification as described below: Financial liabilities at FVPL Financial liabilities at FVPL include financial liabilities held-for-trading and financial liabilities designated upon initial recognition as at FVPL. Financial liabilities are classified as held-for-trading if they are acquired for the purpose of selling in the near term. Derivative liabilities, including separated embedded derivatives are also classified as at FVPL unless they are designated as effective hedging instruments as defined by IAS 39. Financial liabilities at FVPL are carried in our consolidated statement of financial position at fair value with gains or losses on liabilities held-for-trading recognized in our consolidated income statement under “Gains (losses) on derivative financial instruments – net” for derivative instruments and “Other income (expenses) – net” for non-derivative financial liabilities. Financial liabilities may be designated at initial recognition as at FVPL if any of the following criteria are met: (i) the designation eliminates or significantly reduces the inconsistent treatment that would otherwise arise from measuring the liabilities or recognizing gains or losses on them on different bases; (ii) the liabilities are part of a group of financial liabilities which are managed and their performance are evaluated on a fair value basis, in accordance with a documented risk management strategy and information about the group of financial liabilities is provided internally on that basis to the entity’s key management personnel; or (iii) the financial liabilities contain an embedded derivative, unless the embedded derivative does not significantly modify the cash flows or it is clear, with little or no analysis, that it would not be separately recorded. Our financial liabilities at FVPL include long-term principal only-currency swaps and interest rate swaps as at December 31, 2017. See Note 27 – Financial Assets and Liabilities. Other financial liabilities After initial recognition, other financial liabilities are subsequently measured at amortized cost using the EIR method. Gains and losses are recognized in our consolidated income statement when the liabilities are derecognized as well as through the EIR amortization process. Amortized cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part of the EIR. The EIR amortization is included under “Other income (expense) – Financing costs” in our consolidated income statement. Our other financial liabilities include interest-bearing financial liabilities, customers’ deposits, dividends payable, and accrual for long-term capital expenditures, accounts payable, and accrued expenses and other current liabilities (except for statutory payables) as at December 31, 2017. See Note 20 – Interest-bearing Financial Liabilities, Note 21 – Deferred Credits and Other Noncurrent Liabilities, Note 22 – Accounts Payable Note 23 – Accrued Expenses and Other Current Liabilities. Offsetting of financial instruments Financial assets and financial liabilities are offset and the net amount is reported in our consolidated statement of financial position if, and only if, there is a currently enforceable legal right to offset the recognized amounts and there is an intention to settle on a net basis, or to realize the assets and settle the liabilities simultaneously. Amortized cost of financial instruments Amortized cost is computed using the EIR method less any allowance for impairment and principal repayment or reduction. The calculation takes into account any premium or discount on acquisition and includes transaction costs and fees that are an integral part of the EIR. “Day 1” difference Where the transaction price in a non-active market is different from the fair value of other observable current market transactions in the same instrument or based on a valuation technique which variables include only data from observable market, we recognize the difference between the transaction price and fair value (a “Day 1” difference) in our consolidated income statement unless it qualifies for recognition as some other type of asset or liability. In cases where data used are not observable, the difference between the transaction price and model value is only recognized in our consolidated income statement when the inputs become observable or when the instrument is derecognized. For each transaction, we determine the appropriate method of recognizing the “Day 1” difference amount. |
Impairment of Financial Assets | Impairment of Financial Assets We assess at the end of each reporting period whether there is any objective evidence that a financial asset or a group of financial assets is impaired. A financial asset or a group of financial assets is deemed to be impaired if, and only if, there is objective evidence of impairment as a result of one or more events that have occurred after the initial recognition of the asset (an incurred “loss event”) and that loss event has an impact on the estimated future cash flows of the financial asset or the group of financial assets that can be reliably estimated. Evidence of impairment may include indications that the debtor or a group of debtors is experiencing significant financial difficulty, default or delinquency in interest or principal payments, the probability that the debtor will enter bankruptcy or other financial reorganization and where observable data indicate that there is a measurable decrease in the estimated future cash flows, such as changes in arrears or economic conditions that correlate with defaults. Impairment of Trade and Other Receivables Individual impairment Retail subscribers We recognize impairment losses for the whole amount of receivables from permanently disconnected wireless and fixed line subscribers. Subscribers are permanently disconnected after a series of collection steps following nonpayment by postpaid subscribers. Such permanent disconnection usually occurs within a predetermined period from the last statement date. We also recognize impairment losses for accounts with extended credit arrangements or promissory notes. Corporate subscribers Receivables from corporate subscribers are provided with impairment losses when they are specifically identified as impaired. Full allowance is generally provided for the whole amount of receivables from corporate accounts based on aging of individual account balances. In making this assessment, we take into account normal payment cycle, payment history and status of the account. Foreign administrations and domestic carriers For receivables from foreign administration and domestic carriers, impairment losses are recognized when they are specifically identified as impaired regardless of the age of balances. Full allowance is generally provided after quarterly review of the status of settlement with the carriers. In making this assessment, we take into account normal payment cycle, counterparty carrier’s payment history and industry-observed settlement periods. Dealers, agents and others Similar to carrier accounts, we recognize impairment losses for the full amount of receivables from dealers, agents and other parties based on our specific assessment of individual balances based on age and payment habits, as applicable. Collective impairment Postpaid wireless and fixed line subscribers We estimate impairment losses for temporarily disconnected accounts for both wireless and fixed line subscribers based on the historical trend of temporarily disconnected accounts which eventually become permanently disconnected. Temporary disconnection is initiated after a series of collection activities is implemented, including the sending of a collection letter, call-out reminders and collection messages via text messaging. Temporary disconnection generally happens 90 days after the due date of the unpaid balance. If the account is not settled within 60 days from temporary disconnection, the account is permanently disconnected. We recognize impairment losses on our postpaid wireless and fixed line subscribers through net flow-rate methodology which is derived from account-level monitoring of subscriber accounts between different age brackets, from current to 120 days past due. The criterion adopted for making the allowance for doubtful accounts takes into consideration the calculation of the actual percentage of losses incurred on each range of accounts receivable. Other subscribers Receivables that have been assessed individually and found not to be impaired are then assessed collectively based on similar credit risk characteristics to determine whether provision should be made due to incurred loss events for which there is objective evidence but whose effects are not yet evident in the individual impairment assessment. Retail subscribers are provided with collective impairment based on a certain percentage derived from historical data/statistics. See Note 3 – Management’s Use of Accounting Judgments, Estimates and Assumptions – Estimating Allowance for Doubtful Accounts, Note 16 – Trade and Other Receivables Note 27 – Financial Assets and Liabilities – Impairment Assessments Financial assets at amortized cost For financial assets at amortized cost, we first assess whether objective evidence of impairment exists individually for financial assets that are individually significant, or collectively for financial assets that are not individually significant. If we determine that no objective evidence of impairment exists for an individually assessed financial asset, whether significant or not, we include the asset in a group of financial assets with similar credit risk characteristics and collectively assess them for impairment. Assets that are individually assessed for impairment and for which an impairment loss is, or continues to be, recognized are not included in a collective assessment of impairment. If there is objective evidence that an impairment loss has been incurred, the amount of the loss is measured as the difference between the asset’s carrying amount and the present value of estimated future cash flows (excluding future ECL that have not yet been incurred). The present value of the estimated future cash flows is discounted at the financial asset’s original EIR. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current EIR. The carrying amount of the asset is reduced through the use of an allowance account and the amount of the loss is recognized under “Asset impairment” in our consolidated income statement. Interest income continues to be accrued on the reduced carrying amount based on the original EIR of the asset. The financial asset together with the associated allowance are written-off when there is no realistic prospect of future recovery and all collateral has been realized or has been transferred to us. If, in a subsequent year, the amount of the estimated impairment loss increases or decreases because of an event occurring after the impairment was recognized, the previously recognized impairment loss is increased or reduced by adjusting the allowance account. Any subsequent reversal of an impairment loss is recognized in our consolidated income statement, to the extent that the carrying value of the asset does not exceed its original amortized cost at the reversal date. If a write-off is later recovered, the recovery is recognized in profit or loss. Available-for-sale financial investments For available-for-sale financial investments, we assess at each reporting date whether there is objective evidence that an investment or a group of investments is impaired. In the case of equity investments classified as available-for-sale financial investments, objective evidence would include a significant or prolonged decline in the fair value of the investment below its cost. The determination of what is “significant” or “prolonged” requires judgment. We treat “significant” generally as decline of 20% or more below the original cost of investment, and “prolonged” as greater than 12 months assessed against the period in which the fair value has been below its original cost. When a decline in the fair value of an available-for-sale financial investment has been recognized in other comprehensive income and there is objective evidence that the asset is impaired, the cumulative loss that had been recognized in other comprehensive income is reclassified to profit or loss as a reclassification adjustment even though the financial asset has not been derecognized. The amount of the cumulative loss that is reclassified from other comprehensive income to profit or loss is the difference between the acquisition cost (net of any principal repayment and amortization) and the current fair value, less any impairment loss on that financial asset previously recognized in profit or loss. If available-for-sale equity security is impaired, any further decline in the fair value at subsequent reporting date is recognized as impairment. Therefore, at each reporting period, for an equity security that was determined to be impaired, additional impairments are recognized for the difference between fair value and the original cost, less any previously recognized impairment. Impairment losses on equity investments are not reversed in profit or loss. Subsequent increases in the fair value after impairment are recognized in other comprehensive income. In the case of debt instruments classified as available-for-sale financial investments, impairment is assessed based on the same criteria as financial assets carried at amortized cost. However, the amount recorded for impairment is the cumulative loss measured as the difference between the amortized cost and the current fair value, less any impairment loss on that investment previously recognized in our consolidated income statement. Future interest income continues to be accrued based on the reduced carrying amount of the asset, using the rate of interest used to discount future cash flows for the purpose of measuring impairment loss. Such accrual is recorded as part of “Other income (expense) – Interest income” in our consolidated income statement. If, in a subsequent year, the fair value of a debt instrument increases and the increase can be objectively related to an event occurring after the impairment loss was recognized in our consolidated income statement, the impairment loss is reversed in profit or loss. |
Derecognition of Financial Assets and Liabilities | Derecognition of Financial Assets and Liabilities Financial assets A financial asset (or where applicable as part of a financial asset or part of a group of similar financial assets) is primarily derecognized when: (1) the right to receive cash flows from the asset has expired; or (2) we have transferred the right to receive cash flows from the asset or have assumed an obligation to pay the received cash flows in full without material delay to a third party under a “pass-through” arrangement; and either: (a) we have transferred substantially all the risks and rewards of the asset; or (b) we have neither transferred nor retained substantially all the risks and rewards of the asset, but have transferred control of the asset. When we have transferred the right to receive cash flows from an asset or have entered into a “pass-through” arrangement and have neither transferred nor retained substantially all the risks and rewards of the asset nor transferred control of the asset, a new asset is recognized to the extent of our continuing involvement in the asset. Continuing involvement that takes the form of a guarantee over the transferred asset is measured at the lower of the original carrying amount of the asset and the maximum amount of consideration that we could be required to repay. When continuing involvement takes the form of a written and/or purchased option (including a cash-settled option or similar provision) on the transferred asset, the extent of our continuing involvement is the amount of the transferred asset that we may repurchase, except that in the case of a written put option (including a cash-settled option or similar provision) on an asset measured at fair value, the extent of our continuing involvement is limited to the lower of the fair value of the transferred asset and the option exercise price. Financial liabilities A financial liability is derecognized when the obligation under the liability is discharged or cancelled or has expired. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as a derecognition of the original liability and the recognition of a new liability, and the difference in the carrying amount of a financial liability extinguished or transferred to another party and the consideration paid, including any non-cash assets transferred or liabilities assumed, is recognized in profit or loss. The financial liability is also derecognized when equity instruments are issued to extinguish all or part of the financial liability. The equity instruments issued are recognized at fair value if it can be reliably measured, otherwise, it is recognized at the fair value of the financial liability extinguished. Any difference between the fair value of the equity instruments issued and the carrying value of the financial liability extinguished is recognized in profit or loss. |
Derivative Financial Instruments and Hedge Accounting | Derivative Financial Instruments and Hedge Accounting Initial recognition and subsequent measurement We use derivative financial instruments, such as long-term currency swaps, foreign currency options, forward currency contracts and interest rate swaps to hedge our risks associated with foreign currency fluctuations and interest rates. Such derivative financial instruments are initially recognized at fair value on the date on which a derivative contract is entered into and are subsequently remeasured at fair value. Derivatives are carried as financial assets when the fair value is positive and as financial liabilities when the fair value is negative. The fair value of forward currency contracts is calculated by reference to current forward exchange rates for contracts with similar maturity profiles. The fair value of long-term currency swaps, foreign currency options, forward currency contracts and interest rate swap contracts is determined using applicable valuation techniques. See Note 27 – Financial Assets and Liabilities Any gains or losses arising from changes in fair value on derivatives during the period that do not qualify for hedge accounting are taken directly to the “Other income (expense) – Gains (losses) on derivative financial instruments – net” in our consolidated income statement. For the purpose of hedge accounting, hedges are classified as: (1) fair value hedges when hedging the exposure to changes in the fair value of a recognized financial asset or liability or an unrecognized firm commitment (except for foreign currency risk); or (2) cash flow hedges when hedging exposure to variability in cash flows that is either attributable to a particular risk associated with a recognized financial asset or liability, a highly probable forecast transaction or the foreign currency risk in an unrecognized firm commitment; or (3) hedges of a net investment in a foreign operation. At the inception of a hedge relationship, we formally designate and document the hedge relationship to which we wish to apply hedge accounting and the risk management objective and strategy for undertaking the hedge. The documentation includes identification of the hedging instrument, the hedged item or transaction, the nature of the risk being hedged and how we will assess the hedging instrument’s effectiveness in offsetting the exposure to changes in the hedged item’s fair value or cash flows attributable to the hedged risk. Such hedges are expected to be highly effective in achieving offsetting changes in fair value or cash flows and are assessed on an on-going basis to determine that they actually have been highly effective throughout the financial reporting periods for which they are designated. In a situation when that hedged item is a forecast transaction, we assess whether the transaction is highly probable and presents an exposure to variations in cash flows that could ultimately affect our consolidated income statement. Hedges which meet the criteria for hedge accounting are accounted for as follows: Fair value hedges The change in the fair value of a hedging instrument is recognized in our consolidated income statement as financing cost. The change in the fair value of the hedged item attributable to the risk hedged is recorded as part of the carrying value of the hedged item and is also recognized in our consolidated income statement. For fair value hedges relating to items carried at amortized cost, any adjustment to carrying value is amortized through profit or loss over the remaining term of the hedge using the EIR method. EIR amortization may begin as soon as adjustment exists and no later than when the hedged item ceases to be adjusted for changes in its fair value attributable to the risk being hedged. If the hedged item is derecognized, the unamortized fair value is recognized immediately in our consolidated income statement. When an unrecognized firm commitment is designated as a hedged item, the subsequent cumulative change in the fair value of the firm commitment attributable to the hedged risk is recognized as an asset or liability with a corresponding gain or loss recognized in our consolidated income statement. Cash flow hedges The effective portion of the gain or loss on the hedging instrument is recognized in other comprehensive income, while any ineffective portion is recognized immediately in our consolidated income statement. See Note 27 – Financial Assets and Liabilities Amounts taken to other comprehensive income are transferred to our consolidated income statement when the hedged transaction affects our consolidated income statement, such as when the hedged financial income or financial expense is recognized or when a forecast transaction occurs. Where the hedged item is the cost of a non-financial asset or non-financial liability, the amounts taken to other comprehensive income are transferred to the initial carrying amount of the non-financial asset or liability. If the forecast transaction or firm commitment is no longer expected to occur, amounts previously recognized in other comprehensive income are transferred to our consolidated income statement. If the hedging instrument expires or is sold, terminated or exercised without replacement or rollover, or if its designation as a hedge is revoked, amounts previously recognized in other comprehensive income remain in other comprehensive income until the forecast transaction or firm commitment occurs. We use an interest rate swap agreement to hedge our interest rate exposure and a long-term principal only-currency swap agreement to hedge our foreign exchange exposure on certain outstanding loan balances. See Note 27 – Financial Assets and Liabilities Current versus noncurrent classification Derivative instruments that are not designated as effective hedging instruments are classified as current or noncurrent or separated into a current and noncurrent portion based on an assessment of the facts and circumstances (i.e., the underlying contracted cash flows). Where we expect to hold a derivative as an economic hedge (and does not apply hedge accounting) for a period beyond 12 months after the reporting date, the derivative is classified as noncurrent (or separated into current and noncurrent portions) consistent with the classification of the underlying item. Embedded derivatives that are not closely related to the host contract are classified consistent with the cash flows of the host contract. Derivative instruments that are designated as effective hedging instruments are classified consistently with the classification of the underlying hedged item. The derivative instrument is separated into a current portion and a noncurrent portion only if a reliable allocation can be made. We recognize transfers into and transfers out of fair value hierarchy levels as at the date of the event or change in circumstances that caused the transfer. |
Property and Equipment | Property and Equipment Property and equipment, except for land, is stated at cost less accumulated depreciation and amortization and any accumulated impairment losses. Land is stated at cost less any impairment in value. The initial cost of property and equipment comprises its purchase price, including import duties and non-refundable purchase taxes and any directly attributable costs of bringing the property and equipment to its working condition and location for its intended use. Such cost includes the cost of replacing component parts of the property and equipment when the cost is incurred, if the recognition criteria are met. When significant parts of property and equipment are required to be replaced at intervals, we recognize such parts as individual assets with specific useful lives and depreciate them accordingly. Likewise, when a major inspection is performed, its cost is recognized in the carrying amount of the property and equipment as a replacement if the recognition criteria are satisfied. All other repairs and maintenance costs are recognized as expense as incurred. The present value of the expected cost for the decommissioning of the asset after use is included in the cost of the asset if the recognition criteria for a provision are met. Depreciation and amortization commence once the property and equipment are available for their intended use and are calculated on a straight-line basis over the estimated useful lives of the assets. The estimated useful lives used in depreciating our property and equipment are disclosed in Note 9 – Property and Equipment The residual values, estimated useful lives, and methods of depreciation and amortization are reviewed at least at each financial year-end and adjusted prospectively, if appropriate. An item of property and equipment and any significant part initially recognized are derecognized upon disposal or when no future economic benefits are expected from its use or disposal. Any gain or loss arising on derecognition of the asset (calculated as the difference between the net disposal proceeds and the carrying amount of the asset) is included in profit or loss when the asset is derecognized. Property under construction is stated at cost less any impairment in value. This includes cost of construction, plant and equipment, capitalizable borrowing costs and other direct costs associated to construction. Property under construction is not depreciated until such time that the relevant assets are completed and available for its intended use. Property under construction is transferred to the related property and equipment when the construction or installation and related activities necessary to prepare the property and equipment for their intended use have been completed, and the property and equipment are ready for operational use. |
Borrowing Costs | Borrowing Costs Borrowing costs are capitalized if they are directly attributable to the acquisition, construction or production of a qualifying asset. Qualifying assets are assets that necessarily take a substantial period of time to get ready for their intended use or sale. Capitalization of borrowing costs commences when the activities to prepare the asset for its intended use or sale are in progress and the expenditures and borrowing costs are incurred. Borrowing costs are capitalized until the assets are substantially completed for their intended use or sale. All other borrowing costs are expensed as incurred. Borrowing costs consist of interest and other costs that an entity incurs in connection with the borrowing of funds. |
Asset Retirement Obligations | Asset Retirement Obligations We are legally required under various lease agreements to dismantle the installation in leased sites and restore such sites to their original condition at the end of the lease contract term. We recognize the liability measured at the present value of the estimated costs of these obligations and capitalize such costs as part of the balance of the related item of property and equipment. The amount of asset retirement obligations is accreted and such accretion is recognized as interest expense. See Note 9 – Property and Equipment Note 21 – Deferred Credits and Other Noncurrent Liabilities |
Investment Properties | Investment Properties Investment properties are initially measured at cost, including transaction costs. Subsequent to initial recognition, investment properties are stated at fair value, which reflects market conditions at the reporting date. Gains or losses arising from changes in the fair values of investment properties are included in our consolidated income statement in the period in which they arise, including the corresponding tax effect. Fair values are determined based on an amount evaluation performed by a Philippine SEC accredited external independent valuer applying a valuation model recommended by the International Valuation Standards Committee. Investment properties are derecognized when they are disposed of or when they are permanently withdrawn from use and no future economic benefit is expected from their disposal. Any gain or loss on the retirement or disposal of an investment property is recognized in our consolidated income statement in the year of retirement or disposal. Transfers are made to or from investment property only when there is a change in use. For a transfer from investment property to owner-occupied property, the deemed cost for subsequent accounting is the fair value at the date of change in use. If owner-occupied property becomes an investment property, we account for such property in accordance with the policy stated under property and equipment up to the date of change in use. The difference between the carrying amount of the owner-occupied property and its fair value at the date of change is accounted for as revaluation increment recognized in other comprehensive income. On subsequent disposal of the investment property, the revaluation increment recognized in other comprehensive income is transferred to retained earnings. No assets held under operating lease have been classified as investment properties. |
Intangible Assets | Intangible Assets Intangible assets acquired separately are measured at cost on initial recognition. The cost of intangible assets acquired from business combinations is initially recognized at fair value on the date of acquisition. Following initial recognition, intangible assets are carried at cost less any accumulated amortization and accumulated impairment losses. The useful lives of intangible assets are assessed at the individual asset level as either finite or indefinite. Intangible assets with finite lives are amortized over the economic useful life using the straight-line method and assessed for impairment whenever there is an indication that the intangible assets may be impaired. At the minimum, the amortization period and the amortization method for an intangible asset with a finite useful life are reviewed at each financial year-end. Changes in the expected useful life or the expected pattern of consumption of future economic benefits embodied in the asset are accounted for by changing the amortization period or method, as appropriate, and treated as changes in accounting estimates. The amortization expense on intangible assets with finite lives is recognized in our consolidated income statement. Intangible assets with indefinite useful lives are not amortized but are tested for impairment annually either individually or at the CGU level. The useful life of an intangible asset with an indefinite life is reviewed annually to determine whether the indefinite life assessment continues to be supportable. If not, the change in the useful life assessment from indefinite to finite is made on a prospective basis. The estimated useful lives used in amortizing our intangible assets are disclosed in Note 14 – Goodwill and Intangible Assets Gains or losses arising from derecognition of an intangible asset are measured as the difference between the net disposal proceeds and the carrying amount of the asset and are recognized in our consolidated income statement when the asset is derecognized. Internally generated intangibles are not capitalized, and the related expenditures are charged against operations in the period in which the expenditures are incurred. |
Inventories and Supplies | Inventories and Supplies Inventories and supplies, which include cellular and landline phone units, materials, spare parts, terminal units and accessories, are valued at the lower of cost and net realizable value. Costs incurred in bringing inventories and supplies to its present location and condition are accounted for using the weighted average cost method. Net realizable value is determined by either estimating the selling price in the ordinary course of business, less the estimated cost to sell or determining the prevailing replacement costs. |
Impairment of Non-Financial Assets | Impairment of Non-Financial Assets We assess at each reporting period whether there is an indication that an asset may be impaired. If any indication exists, or when the annual impairment testing for an asset is required, we make an estimate of the asset’s recoverable amount. An asset’s recoverable amount is the higher of an asset’s or CGU’s fair value less costs of disposal and its value in use, or VIU. The recoverable amount is determined for an individual asset, unless the asset does not generate cash inflows that are largely independent from those of other assets or groups of assets. When the carrying amount of an asset or CGU exceeds its recoverable amount, the asset is considered impaired and is written down to its recoverable amount. In assessing the VIU, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. In determining the fair value less costs of disposal, recent market transactions are taken into account. If no such transactions can be identified, an appropriate valuation model is used. Impairment losses are recognized in our consolidated income statement. For assets, excluding goodwill, an assessment is made at each reporting date to determine whether there is an indication that previously recognized impairment losses no longer exist or have decreased. If such indication exists, we make an estimate of the recoverable amount. A previously recognized impairment loss is reversed only if there has been a change in the assumptions used to determine the asset’s recoverable amount since the last impairment loss was recognized. If this is the case, the carrying amount of the asset is increased to its recoverable amount. The increased amount cannot exceed the carrying amount that would have been determined, net of depreciation and amortization, had no impairment loss been recognized for the asset in prior years. Such reversal is recognized in our consolidated income statement. After such reversal, the depreciation and amortization charges are adjusted in future years to allocate the asset’s revised carrying amount, less any residual value, on a systematic basis over its remaining economic useful life. The following assets have specific characteristics for impairment testing: Property and equipment and intangible assets with definite useful lives For property and equipment, we also assess for impairment on the basis of impairment indicators such as evidence of internal obsolescence or physical damage. For intangible assets with definite useful lives, we assess for impairment whenever there is an indication that the intangible assets may be impaired. See Note 3 – Management’s Use of Accounting Judgments, Estimates and Assumptions – Impairment of non-financial assets, Note 9 – Property and Equipment Note 14 – Goodwill and Intangible Assets Investments in associates and joint ventures We determine at the end of each reporting period whether there is any objective evidence that our investments in associates and joint ventures are impaired. If this is the case, the amount of impairment is calculated as the difference between the recoverable amount of the investments in associates and joint ventures, and its carrying amount. The amount of impairment loss is recognized in our consolidated income statement. See Note 10 – Investments in Associates and Joint Ventures Goodwill Goodwill is tested for impairment annually as at December 31 and when circumstances indicate that the carrying value may be impaired. Impairment is determined for goodwill by assessing the recoverable amount of each CGU, or group of CGUs, to which the goodwill relates. When the recoverable amount of the CGU, or group of CGUs, is less than the carrying amount of the CGU, or group of CGUs, to which goodwill has been allocated, an impairment loss is recognized. Impairment losses relating to goodwill cannot be reversed in future periods. See Note 3 – Management’s Use of Accounting Judgments, Estimates and Assumptions – Impairment of non-financial assets Note 14 – Goodwill and Intangible Assets – Impairment testing of goodwill and intangible assets with indefinite useful life Intangible asset with indefinite useful life Intangible asset with indefinite useful life is not amortized but is tested for impairment annually either individually or at the CGU level, as appropriate. We calculate the amount of impairment as being the difference between the recoverable amount of the intangible asset or the CGU, and its carrying amount and recognize the amount of impairment in our consolidated income statement. Impairment losses relating to intangible assets can be reversed in future periods. See Note 3 – Management’s Use of Accounting Judgments, Estimates and Assumptions – Impairment of non-financial assets Note 14 – Goodwill and Intangible Assets – Impairment testing of goodwill and intangible assets with indefinite useful life |
Investment in Debt Securities | Investment in Debt Securities Investment in debt securities consists of time deposits and government securities which are carried at amortized cost using the EIR method. Interest earned from these securities is recognized under “Other income (expenses) – Interest income” in our consolidated income statement. |
Cash and Cash Equivalents | Cash and Cash Equivalents Cash includes cash on hand and in banks. Cash equivalents, which include temporary cash investments, are short-term, highly liquid investments that are readily convertible to known amounts of cash with original maturities of three months or less from the date of acquisition, and for which there is an insignificant risk of change in value. |
Short-term Investments | Short-term Investments Short-term investments are money market placements, which are highly liquid with maturities of more than three months but less than one year from the date of acquisition. |
Fair Value Measurement | Fair Value Measurement We measure financial instruments such as derivatives, available-for-sale financial investments and certain short-term investments and non-financial assets such as investment properties, at fair value at each reporting date. The fair values of financial instruments measured at amortized cost are disclosed in Note 27 – Financial Assets and Liabilities Note 13 – Investment Properties Fair value is the estimated price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either: (i) in the principal market for the asset or liability; or (ii) in the absence of a principal market, in the most advantageous market for the asset or liability. The principal or the most advantageous market must be accessible to us. The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability, assuming that market participants act in their economic best interest. A fair value measurement of a non-financial asset takes into account a market participant’s ability to generate economic benefits by using the asset in its highest and best use or by selling it to another market participant that would use the asset in its highest and best use. We use valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs. All assets and liabilities for which fair value is measured or disclosed in our consolidated financial statements are categorized within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole: (i) Level 1 - Quoted (unadjusted) market prices in active markets for identical assets or liabilities; (ii) Level 2 - Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observable; and (iii) Level 3 - Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable. For assets and liabilities that are recognized in our consolidated financial statements on a recurring basis, we determine whether transfers have occurred between levels in the hierarchy by re-assessing categorization (based on the lowest level input that is significant to the fair value measurement as a whole) at the end of each reporting period. We determine the policies and procedures for both recurring fair value measurement, such as investment properties and unquoted available-for-sale financial assets, and for non-recurring measurement, such as assets held for distribution in discontinued operation. External valuers are involved for valuation of significant assets, such as certain short-term investments and investment properties. Involvement of external valuers is decided upon annually. Selection criteria include market knowledge, reputation, independence and whether professional standards are maintained. At each reporting date, we analyze the movements in the values of assets and liabilities which are required to be re-measured or re-assessed as per our accounting policies. For this analysis, we verify the major inputs applied in the latest valuation by agreeing the information in the valuation computation to contracts and other relevant documents. We, in conjunction with our external valuers, also compare the changes in the fair value of each asset and liability with relevant external sources to determine whether the change is reasonable. This includes a discussion of the major assumptions used in the valuations. For the purpose of fair value disclosures, we have determined classes of assets and liabilities on the basis of the nature, characteristics and risks of the asset or liability and the level of the fair value hierarchy as explained above. |
Revenue | Revenue Beginning January 1, 2018 Revenue from contracts with customers Revenue is recognized to depict the transfer of promised goods or services to customers in an amount that reflects the consideration which we expect to be entitled to in exchange for those goods or services. IFRS 15 prescribes a five-step model to be followed in the recognition of revenue, wherein we take into consideration the performance obligations which we need to perform in the agreements we have entered into with our customers. Revenue is measured by allocating the transaction price, which includes variable considerations, to each performance obligation on a relative stand-alone selling price basis, taking into account contractually defined terms of payment and excluding value-added tax, or VAT, or overseas communication tax, or OCT, where applicable. Transaction prices are adjusted for the effects of a significant component if we expect, at contract inception, that the period between the transfer of the promised goods or services to the customer and when the customer pays for that good or service will be more than one year. When allocating the total contract transaction price to identified performance obligations, a portion of the total transaction price may relate to service performance obligations which were not satisfied or are partially satisfied as of end of the reporting period. In determining the transaction price allocated, we do not include nonrecurring charges and estimates for usage, nor do we consider arrangements with an original expected duration of one year or less. Remaining performance obligations are associated with our wireless and fixed line subscription contracts. As at December 31, 2018, excluding the performance obligations for contracts with original expected duration of less than one year, the aggregate amount of the transaction price allocated to remaining performance obligations was Php30,753 million, of which we expect to recognize approximately 63% in 2019 and 37% over the next two years. The disclosures of significant accounting judgments, estimates and assumptions relating to revenue from contracts with customers are provided in Note 3. Our revenues are principally derived from providing the following telecommunications services: cellular voice and data services in the wireless business; and local exchange, international and national long distance, data and other network, and information and communications services in the fixed line business. Services may be rendered separately or bundled with goods or other services. The specific recognition criteria are as follows: i. Single Performance Obligation (POB) Contracts Postpaid service arrangements include fixed monthly charges (including excess of consumable fixed monthly service fees) generated from cellular voice, short messaging services, or SMS, and data services through the postpaid plans of Smart, Sun Cellular and Infinity brands, from local exchange services primarily through landline and related services, and from fixed line and other network services primarily through broadband and leased line services, which we recognize on a straight-line basis over the customer’s subscription period. Services provided to postpaid subscribers are billed throughout the month according to the billing cycles of subscribers. Services availed by subscribers in addition to these fixed fee arrangements are charged separately at their stand-alone selling prices and recognized as the additional service is provided or as availed by the subscribers. Our prepaid service revenues arise from the usage of airtime load from channels and prepaid cards provided by Smart, Sun Cellular, TNT, SmartBro and Sun Broadbrand brands. Proceeds from over-the-air reloading channels and prepaid cards are initially recognized as contract liability and realized upon actual usage of the airtime value for voice, SMS, mobile data and other VAS, prepaid unlimited and bucket-priced SMS and call subscriptions, net of bonus credits from load packages purchased, such as free additional call minutes, SMS, data allocation or airtime load, or upon expiration, whichever comes earlier. We also consider recognizing revenue from the expected breakage or expiry of airtime load in proportion to the pattern of rights exercised by the customer if it expects to be entitled to that breakage amount. If we do not expect to be entitled to a breakage amount based on historical experience with the customers, then we recognize the expected breakage amount as revenue when the likelihood of the prepaid customer exercising its remaining rights becomes remote. Interconnection fees and charges arising from the actual usage of airtime value or subscriptions are recorded as incurred. Revenue from international and national long-distance calls carried via our network is generally based on rates which vary with distance and type of service (direct dial or operator-assisted, paid or collect, etc.). Revenue from both wireless and fixed line long distance calls is recognized as the service is provided. In general, non-refundable upfront fees, such as activation fees, that do not relate to the transfer of a promised good or service, are deferred and recognized as revenue throughout the estimated average length of the customer relationship, and the related incremental costs incurred are similarly deferred and recognized as expense over the same period, if such costs generate or enhance resources of the entity and are expected to be recovered. Installation fees for voice services are considered as a single performance obligation together with monthly service fees, recognized over the customer subscription period since the subscriber cannot benefit from the installation services on its own or together with other resources that are readily available to the subscriber. Installation fees for data services are also not capable of being distinct from the sale of modem since the subscriber obtains benefit from the combined output of the installation services and the device, and is recognized upon delivery of the modem and performance of modem installation. The related incremental costs are recognized in the same manner in our consolidated income statements, if such costs are expected to be recovered. i i . Bundled Contracts In revenue arrangements, which involve bundled sales of mobile devices and accessories (non-service component), and telecommunication services (service component), the total transaction price is allocated based on the relative stand-alone selling prices of each distinct performance obligation. Stand-alone selling price is the price at which we sell the good or service separately to a customer. However, if goods or services are not currently offered separately, we use the adjusted market or cost-plus margin method to determine the stand-alone selling price to be used in the transaction price allocation. We adjust the transaction price for the effects of the time value of money if the timing of the payment and delivery of goods or services do not coincide, effects of which are considered as containing a significant financing component. Revenues from the sale of non-service component are recognized at the point in time when the goods are delivered while revenues from telecommunication services component are recognized over on a straight-line basis over the contract period when the services are provided to subscribers. Significant Financing Component The non-service component included in contracts with customers have significant financing component considering the period between the customer’s payment of the price of the mobile device and time of the transfer of control over the mobile device, which is more than one year. The transaction price for such contracts is determined by discounting the amount of promised consideration using the appropriate discount rate. We concluded that there is a significant financing component for those contracts where the customer elects to pay in arrears considering the length of time between the customer’s payment and the transfer of mobile device to the customer, as well as the prevailing interest rates in the market adjusted with customer credit spread. Customer Loyalty Program We operate customer engagement and loyalty programs which allows customers to accumulate points when postpaid customers pay their bills on time and in full, purchase products or services, and load or top-up for prepaid customers once registered to the program. Customers may avail of the “MVP Rewards Card” for free, powered by PayMaya, which allows for instant conversion of points into the PayMaya wallet of the customer that can be used for all purchases transacted using the “MVP Rewards Card”. The new customer loyalty program is not treated as separate performance obligation but as a reduction of revenue when earned. i ii . International and Domestic Long Distance Contracts Interconnection revenues for call termination, call transit and network usages are recognized in the period in which the traffic occurs. Revenues related to local, long distance, network-to-network, roaming and international call connection services are recognized when the call is placed, or connection is provided, and the equivalent amounts charged to us by other carriers are recorded under interconnection costs in our consolidated income statement. Inbound revenue and outbound charges are based on agreed transit and termination rates with other foreign and local carriers. Variable consideration We assessed that a variable consideration exists in certain interconnection agreements where there is a monthly aggregation period and the rates applied for the total monthly traffic will depend on the total traffic for the month. We also consider whether contracts with carriers contain volume commitment or tiering arrangement whereby the rate being charged will change upon meeting certain volume of traffic. We estimate the amount of variable consideration to which we are entitled and include in the transaction price some or all of an amount of variable consideration estimated arising from these agreements, unless the impact is not material. i v . Others Revenues from VAS include MMS, downloading and streaming of content, applications and other digital services and infotext services which are only arranged for by us on behalf of third-party content providers. The amount of revenue recognized is net of content provider’s share in revenue. Revenue is recognized upon service availment. We act as an agent for certain VAS arrangements. Revenue from server hosting, co-location services and customer support services are recognized at point in time as the services are performed. Contract balances Contract assets A contract asset is the right to consideration in exchange for goods or services transferred to the customer. If we perform by transferring goods or services to a customer before the customer pays consideration or before payment is due, a contract asset is recognized for the earned consideration that is conditional. Contract assets are reclassified to trade receivables when billed. Trade receivables A receivable represents our right to an amount of consideration that is unconditional (i.e., only the passage of time is required before payment of the consideration is due). Contract liabilities and unearned revenues A contract liability is the obligation to transfer goods or services to a customer for which we have received consideration (or an amount of consideration is due) from the customer. If a customer pays consideration before we transfer goods or services to the customer, a contract liability is recognized when the payment is made or the payment is due (whichever is earlier). Contract liabilities and unearned revenues are recognized as revenue when we perform under the contract. Incremental costs to obtain contracts We often give commissions and incentives to sales agent for meeting certain quota on new connect based on volume of new connections and corresponding value of plans contracted. These costs are incremental costs to obtain as we would have not incurred these if the contract had not been obtained. These are capitalized as an asset if these are expected to be recovered. Any capitalized incremental costs to obtain would be amortized and recognized as expense over customer subscription period. Interest income Interest income is recognized as it accrues on a time proportion basis taking into account the principal amount outstanding and the EIR. Dividend income Revenue is recognized when our right to receive the payment is identified. Prior to January 1, 2018 Revenue Recognition Revenue is recognized to the extent that it is probable that the economic benefits will flow to us and the revenue can be reliably measured, regardless of when the payment is received. Revenue is measured at the fair value of the consideration received or receivable, taking into account contractually defined terms of payment and excluding value-added tax, or VAT, or overseas communication tax, or OCT, where applicable. When deciding the most appropriate basis for presenting revenue and cost of revenue, we assess our revenue arrangements against specific criteria to determine if we are acting as principal or agent. We consider both the legal form and the substance of our agreement, to determine each party’s respective roles in the agreement. We are acting as a principal when we have the significant risks and rewards associated with the rendering of telecommunication services. When our role in a transaction is that of principal, revenue is presented on a gross basis, otherwise, revenue is presented on a net basis. Service revenues from continuing operations Our revenues are principally derived from providing the following telecommunications services: cellular voice and data services in the wireless business; and local exchange, international and national long distance, data and other network, and information and communications services in the fixed line business. When determining the amount of revenue to be recognized in any period, the overriding principle followed is to match the revenue with the provision of service. Services may be rendered separately or bundled with goods or other services. The specific recognition criteria are as follows: Subscribers We provide telephone, cellular and data communication services under prepaid and postpaid payment arrangements as follows: Postpaid service arrangements include fixed monthly charges (including excess of consumable fixed monthly service fees) generated from voice, short messaging services, or SMS, and data services through the postpaid plans of Smart Sun Our prepaid service revenues arise from the usage of airtime load from channels and prepaid cards provided by Smart, TNT, SmartBro Sun Broadband Revenue from international and national long-distance calls carried via our network is generally based on rates which vary with distance and type of service (direct dial or operator-assisted, paid or collect, etc.). Revenue from both wireless and fixed line long distance calls is recognized as the service is provided. Non-recurring upfront fees such as activation fees charged to subscribers for connection to our network are deferred and are recognized as revenue throughout the estimated average length of customer relationship. The related incremental costs are similarly deferred and recognized over the same period in our consolidated income statement. Connecting carriers Interconnection revenues for call termination, call transit and network usages are recognized in the period in which the traffic occurs. Revenues related to local, long distance, network-to-network, roaming and international call connection services are recognized when the call is placed, or connection is provided, and the equivalent amounts charged to us by other carriers are recorded under interconnection costs in our consolidated income statement. Inbound revenue and outbound charges are based on agreed transit and termination rates with other foreign and local carriers. Value-Added Services, or VAS Revenues from VAS include MMS, downloading and streaming of content, applications and other digital services and infotext services. The amount of revenue recognized is net of payout to content provider’s share in revenue. Revenue is recognized upon service availment. Incentives We operate customer loyalty programmes in our wireless business which allows customers to accumulate points when they purchase services or prepaid credits from us. The points can then be redeemed for free services and discounts, subject to a minimum number of points being obtained. Consideration received is allocated between the services and prepaid credits sold and the points issued, with the consideration allocated to the points equal to their value. The fair value of the points issued is deferred and recognized as revenue when the points are redeemed. Product-based incentives provided to retailers and customers as part of a transaction are accounted for as multiple element arrangements and recognized when earned. Multiple-deliverable arrangements In revenue arrangements, which involve bundled sales of mobile devices, SIM cards/packs and accessories (non-service component) and telecommunication services (service component), the total arrangement consideration is allocated to each component based on their relative fair value to reflect the substance of the transaction. Revenue from the sale of non-service component are recognized when the goods are delivered while revenues from telecommunication services component are recognized when the services are provided to subscribers. When fair value is not directly observable, the total consideration is allocated using residual method. Other services Revenue from server hosting, co-location services and customer support services are recognized as the service are performed. Non-service revenues Revenues from handset and equipment sales are recognized when the significant risks and rewards of ownership of the goods have passed to the buyer, usually on delivery of the goods. The related cost or net realizable value of handsets or equipment, sold to customers is presented as “Cost of sales” in our consolidated income statement. Interest income Interest income is recognized as it accrues on a time proportion basis taking into account the principal amount outstanding and the EIR. Dividend income Revenue is recognized when our right to receive the payment is established. |
Expenses | Expenses Expenses are recognized as incurred. |
Provisions | Provisions We recognize a provision when we have a present obligation, legal or constructive, as a result of a past event, and when it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. When we expect some or all of a provision to be reimbursed, the reimbursement is recognized as a separate asset, but only when the reimbursement is virtually certain to be received if the entity settles the obligation. The expense relating to any provision is presented in our consolidated income statement, net of any reimbursements. If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate that reflects, where appropriate, the risks specific to the liability. Where discounting is used, the increase in the provision due to the passage of time is recognized as interest expense in our consolidated income statement. |
Retirement Benefits | Retirement Benefits PLDT and certain of its subsidiaries are covered under R.A. 7641 otherwise known as “The Philippine Retirement Law”. Defined benefit pension plans PLDT has separate and distinct retirement plans for itself and majority of its Philippine-based operating subsidiaries, administered by the respective Funds’ Trustees, covering permanent employees. Retirement costs are separately determined using the projected unit credit method. This method reflects services rendered by employees to the date of valuation and incorporates assumptions concerning employees’ projected salaries. Retirement costs consist of the following: • Service cost; • Net interest on the net defined benefit asset or obligation; and • Remeasurements of net defined benefit asset or obligation. Service cost (which includes current service costs, past service costs and gains or losses on curtailments and non-routine settlements) is recognized as part of “Selling, general and administrative expenses – Compensation and employee benefits” account in our consolidated income statement. These amounts are calculated periodically by an independent qualified actuary. Net interest on the net defined benefit asset or obligation is the change during the period in the net defined benefit asset or obligation that arises from the passage of time which is determined by applying the discount rate based on the government bonds to the net defined benefit asset or obligation. Net defined benefit asset is recognized as part of advances and other noncurrent assets and net defined benefit obligation is recognized as part of pension and other employee benefits in our consolidated statement of financial position. Remeasurements, comprising actuarial gains and losses, return on plan assets and any change in the effect of the asset ceiling (excluding net interest on defined benefit obligation) are recognized immediately in other comprehensive income in the period in which they occur. Remeasurements are not classified to profit or loss in subsequent periods. The net defined benefit asset or obligation comprises the present value of the defined benefit obligation (using a discount rate based on government bonds, as explained in Note 3 – Management’s Use of Accounting Judgments, Estimates and Assumptions – Estimating pension benefit costs and other employee benefits Note 25 – Employee Benefits – Defined Benefit Pension Plans Defined contribution plans Smart and certain of its subsidiaries maintain a defined contribution plan that covers all regular full-time employees under which it pays fixed contributions based on the employees’ monthly salaries and provides for qualified employees to receive a defined benefit minimum guarantee. The defined benefit minimum guarantee is equivalent to a certain percentage of the monthly salary payable to an employee at normal retirement age with the required credited years of service based on the provisions of R.A. 7641. Accordingly, Smart and certain of its subsidiaries account for their retirement obligation under the higher of the defined benefit obligation related to the minimum guarantee and the obligation arising from the defined contribution plan. For the defined benefit minimum guarantee plan, the liability is determined based on the present value of the excess of the projected defined benefit obligation over the projected defined contribution obligation at the end of the reporting period. The defined benefit obligation is calculated annually by a qualified independent actuary using the projected unit credit method. Smart and certain of its subsidiaries determines the net interest expense (income) on the net defined benefit liability (asset) for the period by applying the discount rate used to measure the defined benefit obligation at the beginning of the annual period to the then net defined benefit liability (asset), taking into account any changes in the net defined benefit liability (asset) during the period as a result of contributions and benefit payments. Net interest expense (income) and other expenses (income) related to the defined benefit plan are recognized in our profit or loss. The defined contribution liability, on the other hand, is measured at the fair value of the defined contribution assets upon which the defined contribution benefits depend, with an adjustment for margin on asset returns, if any, where this is reflected in the defined contribution benefits. Remeasurements of the net defined benefit liability, which comprise actuarial gains and losses, the return on plan assets (excluding interest) and the effect of the asset ceiling (if any, excluding interest), are recognized immediately in our other comprehensive income. When the benefits of the plan are changed or when the plan is curtailed, the resulting change in benefit that relates to past service or the gain or loss on curtailment is recognized immediately in our profit or loss. Gains or losses on the settlement of the defined benefit plan are recognized when the settlement occurs. See Note 25 – Employee Benefits – Defined Contribution Plans |
Other Long-term Employee Benefits | Other Long-term Employee Benefits Employee benefit costs include current service cost, net interest on the net defined benefit obligation, and remeasurements of the net defined benefit obligation. Past service costs and actuarial gains and losses are recognized immediately in our profit or loss. The long-term employee benefit liability comprises the present value of the defined benefit obligation (using a discount rate based on government bonds) at the end of the reporting period and is determined using the projected unit credit method. See Note 25 – Employee Benefits – Other Long-term Employee Benefits |
Transformation Incentive Plan, or TIP | Transformation Incentive Plan, or TIP The PLDT provides incentive compensation to key officers, executives and other eligible participants, in the PLDT Group in the form of PLDT Inc. common shares of stock, or Performance Shares, over a three-year vesting period from January 1, 2017 to December 31, 2019. The award of the performance shares is contingent on the achievement of Performance Targets based on PLDT Group’s cumulative consolidated core net income. The starting point of expense recognition is the date of grant, which is the date when the formal invitation letter was sent to the eligible participants. The fair value of the award (excluding the effect of any service and non-market performance vesting conditions) is determined at the grant date. At each subsequent reporting date until vesting, a best estimate of the cumulative charge to profit or loss at that date is computed. As the share-based payments vests in installments over the service period, the award is treated as expense over the vesting period. On December 11, 2018, the Executive Compensation Committee, or ECC, of the Board approved Management’s recommended modifications to the Plan, and partial equity and cash settled set-up will be implemented for the 2019 TIP Grant. The estimated fair value of remaining unpurchased shares will be given out as cash award. The fair value of the cash award relating to unpurchased shares is determined using the estimate of the fair value of the original award approved in 2017. Please see Note 3 – Management’s Use of Accounting Judgements, Estimates and Assumptions – Estimating pension benefit cost and other employee benefits |
Leases | Leases The determination of whether an arrangement is, or contains, a lease is based on the substance of the arrangement at inception date. The arrangement is assessed for whether the fulfillment of the arrangement is dependent on the use of a specific asset or assets and the arrangement conveys a right to use the asset or assets, even if that right is not explicitly specified in an arrangement. A reassessment is made after the inception of the lease only if one of the following applies: (a) there is a change in contractual terms, other than a renewal or extension of the agreement; (b) a renewal option is exercised or extension granted, unless the term of the renewal or extension was initially included in the lease term; (c) there is a change in the determination of whether the fulfillment is dependent on a specified asset; or (d) there is a substantial change to the asset. Where a reassessment is made, lease accounting shall commence or cease from the date when the change in circumstances gave rise to the reassessment for scenarios (a), (c) or (d) and the date of renewal or extension period for scenario (b). As a Lessor. Leases where we retain substantially all the risks and benefits of ownership of the asset are classified as operating leases. Any initial direct costs incurred in negotiating an operating lease are added to the carrying amount of the leased asset and recognized over the lease term on the same bases as rental income. Rental income is recognized in our consolidated income statement on a straight-line basis over the lease term. All other leases are classified as finance leases. At the inception of the finance lease, the asset subject to lease agreement is derecognized and lease receivable is recognized. Interest income is accrued over the lease term using the EIR and lease amortization is accounted for as reduction of lease receivable. As a Lessee. Leases where the lessor retains substantially all the risks and benefits of ownership of the assets are classified as operating leases. Operating lease payments are recognized as expense in our consolidated income statement on a straight-line basis over the lease term. All other leases are classified as finance leases. A finance lease gives rise to the recognition of a leased asset and finance lease liability. Capitalized leased assets are depreciated over the shorter of the estimated useful life of the asset or the lease term, if there is no reasonable certainty that we will obtain ownership of the leased asset at the end of the lease term. Interest expense is recognized over the lease term using the EIR. |
Income Taxes | Income Taxes Current income tax Current income tax assets and liabilities for the current and prior years are measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted as at the end of the reporting period where we operate and generate taxable income. Deferred income tax Deferred income tax is provided on all temporary differences between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes at the end of the reporting period. Deferred income tax liabilities are recognized for all taxable temporary differences except: (1) when the deferred income tax liability arises from the initial recognition of goodwill or of an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss; and (2) with respect to taxable temporary differences associated with investments in subsidiaries, associates and interest in joint ventures, when the timing of the reversal of the temporary differences can be controlled and it is probable that the temporary differences will not reverse in the foreseeable future. Deferred income tax assets are recognized for all deductible temporary differences, the carryforward benefits of unused tax credits from excess minimum corporate income tax, or MCIT, over regular corporate income tax, or RCIT, and unused net operating loss carry over, or NOLCO. Deferred income tax assets are recognized to the extent that it is probable that taxable profit will be available against which the deductible temporary differences and carryforward benefits of unused tax credits and unused tax losses can be utilized, except: (1) when the deferred income tax asset relating to the deductible temporary difference arises from the initial recognition of an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss; and (2) with respect to deductible temporary differences associated with investments in subsidiaries, associates and interests in joint ventures, deferred income tax assets are recognized only to the extent that it is probable that the temporary differences will reverse in the foreseeable future and taxable profit will be available against which the temporary differences can be utilized. The carrying amount of deferred income tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred income tax assets to be utilized. Unrecognized deferred income tax assets are reassessed at the end of each reporting period and are recognized to the extent that it has become probable that future taxable profit will allow the deferred income tax assets to be recovered. Deferred income tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the asset is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted as at the end of the reporting period. Deferred income tax relating to items recognized in “Other comprehensive income” account is included in our consolidated statement of comprehensive income and not in our consolidated income statement. Deferred income tax assets and liabilities are offset, if a legally enforceable right exists to offset current income tax assets against current income tax liabilities and the deferred income taxes relate to the same taxable entity and the same taxation authority. Tax benefits acquired as part of a business combination, but not satisfying the criteria for separate recognition at that date, would be recognized subsequently if new information about facts and circumstances changed. The adjustment would either be treated as a reduction to goodwill (as long as it does not exceed goodwill) if it is incurred during the measurement period or in our profit or loss. |
VAT | VAT Revenues, expenses and assets are recognized net of the amount of VAT, if applicable. When VAT from sales of goods and/or services (output VAT) exceeds VAT passed on from purchases of goods or services (input VAT), the excess is recognized as payable in our consolidated statement of financial position. When VAT passed on from purchases of goods or services (input VAT) exceeds VAT from sales of goods and/or services (output VAT), the excess is recognized as an asset in our consolidated statement of financial position to the extent of the recoverable amount. |
Contingencies | Contingencies Contingent liabilities are not recognized in our consolidated financial statements. They are disclosed in the notes to our consolidated financial statements unless the possibility of an outflow of resources embodying economic benefits is remote. Contingent assets are not recognized in our consolidated financial statements but are disclosed in the notes to our consolidated financial statements when an inflow of economic benefits is probable. |
Events After the End of the Reporting Period | Events After the End of the Reporting Period Post period-end events up to the date of approval of the Board of Directors that provide additional information about our financial position at the end of the reporting period (adjusting events) are reflected in our consolidated financial statements. Post period-end events that are not adjusting events are disclosed in the notes to our consolidated financial statements when material. |
Equity | Equity Preferred and common stocks are measured at par value for all shares issued. Incremental costs incurred directly attributable to the issuance of new shares are shown in equity as a deduction from proceeds, net of tax. Proceeds and/or fair value of considerations received in excess of par value are recognized as capital in excess of par value in our consolidated statement of changes in equity. Treasury stocks are our own equity instruments which are reacquired and recognized at cost and presented as reduction in equity. No gain or loss is recognized in our consolidated income statement on the purchase, sale, reissuance or cancellation of our own equity instruments. Any difference between the carrying amount and the consideration upon reissuance or cancellation of shares is recognized as capital in excess of par value in our consolidated statement of changes in equity and consolidated statement of financial position. Change in the ownership interest of a subsidiary, without loss of control, is accounted for as an equity transaction and any impact is presented as part of capital in excess of par value in our consolidated statement of changes in equity. Retained earnings represent our net accumulated earnings less cumulative dividends declared. Other comprehensive income comprises of income and expense, including reclassification adjustments that are not recognized in our profit or loss as required or permitted by IFRS. |
Standards Issued But Not Yet Effective | Standards Issued But Not Yet Effective The standards and interpretations that are issued, but not yet effective, up to the date of issuance of the consolidated financial statements are listed below. We will adopt these standards and amendments to existing standards which are relevant to us when these become effective. Effective beginning on or after January 1, 2019 • IFRIC 23, Uncertainty over Income Tax Treatments The interpretation addresses the accounting for income taxes when tax treatments involve uncertainty that affects the application of IAS 12, Income Taxes, The interpretation specifically addresses the following: • Whether an entity considers uncertain tax treatments separately. • The assumptions an entity makes about the examination of tax treatments by taxation authorities. • How an entity determines taxable profit (tax loss), tax bases, unused tax losses, unused tax credits and tax rates. • How an entity considers changes in facts and circumstances. An entity must determine whether to consider each uncertain tax treatment separately or together with one or more other uncertain tax treatments. The approach that better predicts the resolution of the uncertainty should be followed. We are currently assessing the impact of adopting this interpretation. • Amendments to , Financial Instruments, Prepayment Features with Negative Compensation Under IFRS 9, a debt instrument can be measured at amortized cost or at FVOCI, provided that the contractual cash flows are ‘solely payments of principal and interest on the principal amount outstanding’ (the SPPI criterion) and the instrument is held within the appropriate business model for that classification. The amendments to IFRS 9 clarify that a financial asset passes the SPPI criterion regardless of the event or circumstance that causes the early termination of the contract and irrespective of which party pays or receives reasonable compensation for the early termination of the contract. The amendments should be applied retrospectively and are effective from January 1, 2019, with earlier application permitted. These amendments have no impact on our consolidated financial statements. • IFRS 16, Leases IFRS 16 sets out the principles for the recognition, measurement, presentation and disclosure of leases and requires lessees to account for all leases under a single on-balance sheet model similar to the accounting for finance leases under IAS 17, Leases Lessees will be also required to remeasure the lease liability upon the occurrence of certain events (e.g., a change in the lease term, a change in future lease payments resulting from a change in an index or rate used to determine those payments). The lessee will generally recognize the amount of the remeasurement of the lease liability as an adjustment to the right-of-use asset. Lessor accounting under IFRS 16 is substantially unchanged from today’s accounting under IAS 17. Lessors will continue to classify all leases using the same classification principle as in IAS 17 and distinguish between two types of leases: operating and finance leases. IFRS 16 also requires lessees and lessors to make more extensive disclosures than under IAS 17. A lessee can choose to apply the standard using either a full retrospective or a modified retrospective approach. The standard’s transition provisions permit certain reliefs. We plan to apply the modified retrospective approach upon adoption of IFRS 16 on January 1, 2019 and elect to apply the standard to contracts that were previously identified as leases applying IAS 17 and IFRIC 4, Determining whether an Arrangement contains a Lease During 2018, we have performed a detailed impact assessment of IFRS 16. This assessment is based on current available information and may be subject to changes arising from further reasonable and supportable information being made available in 2019 and when we adopt IFRS 16. We will elect to use the exemptions provided by the standard on lease contracts for which the lease terms ends within 12 months as at the date of initial application, and lease contracts for which the underlying asset is of low value. Moving forward, our cash flows from operating activities will increase and cash flows from financing cash flows will decrease as repayment of the principal portion of the lease liabilities will be classified as cash flows from financing activities. In addition, our total assets and total liabilities will increase due to the recognition of right-of-use asset and lease liability. The accounting for operating leases where we act as the lessee will significantly change due to the adoption of IFRS 16. We are currently finalizing the quantitative impact of adopting this standard. • Amendments to IAS 28, Investments in Associates and Joint Ventures, Long-term Interests in Associates and Joint Ventures The amendments clarify that an equity applies IFRS 9 to long-term interests in an associate or joint venture to which the equity method is not applied but that, in substance, form part of the net investment in the associate or joint venture (long-term interests). This clarification is relevant because it implies that the ECL model in IFRS 9 applies to such long-term interests. The amendments also clarified that, in applying IFRS 9, an entity does not take account of any losses of the associate or joint venture, or any impairment losses on the net investment, recognized as adjustments to the net investment in the associate or joint venture that arise from applying IAS 28, Investments in Associates and Joint Ventures The amendments should be applied retrospectively and are effective from January 1, 2019, with early application permitted. Since we do not have such long-term interests in associate and joint venture, the amendments will not have an impact on our consolidated financial statements. • Amendments to IAS 19, Employee Benefits, Plan Amendment, Curtailment or Settlement The amendments to IAS 19 address the accounting when a plan amendment, curtailment or settlement occurs during a reporting period. The amendments specify that when a plan amendment, curtailment or settlement occurs during the annual reporting period, an entity is required to: 1. Determine current service cost for the remainder of the period after the plan amendment, curtailment or settlement, using the actuarial assumptions used to remeasure the net defined benefit liability (asset) reflecting the benefits offered under the plan and the plan assets after the event; and 2. Determine net interest for the remainder of the period after the plan amendment, curtailment or settlement using: the net defined benefit liability (asset) reflecting the benefits offered under the plan and the plan assets after that event; and the discount rate used to remeasure that net defined benefit liability (asset). The amendments also clarify that an entity first determines any past service cost, or a gain or loss on settlement, without considering the effect of the asset ceiling. This amount is recognized in profit or loss. An entity then determines the effect of the asset ceiling after the plan amendment, curtailment or settlement. Any change in that effect, excluding amount included in the net interest, is recognized in other comprehensive income. The amendments apply to plan amendments, curtailments, or settlements occurring on or after the beginning of the first annual reporting period that begins on or after January 1, 2019, with early application permitted. These amendments will apply only to any of our future plan amendments, curtailments, or settlements. • Amendments to IFRS 3, Business Combinations, Joint Arrangements, Previously Held Interest in a Joint Operation (Part of Annual Improvements to IFRS 2015-2017 Cycle) The amendments clarify that when an entity obtains control of a business that is a joint operation, it applies the requirements for a business combination achieved in stages, including remeasuring previously held interests in the assets and liabilities of the joint operation at fair value. In doing so, the acquirer remeasures its entire previously held interest in the joint operation. A party that participates in, but does not have joint control of, a joint operation might obtain joint control of the joint operation in which the activity of the joint operation constitutes a business as defined in IFRS 3. The amendments clarify that the previously held interests in that joint operation are not remeasured. An entity applies those amendments to business combinations for which the acquisition date is on or after the beginning of the first annual reporting period beginning on or after January 1, 2019 and to transactions in which it obtains joint control on or after the beginning of the first annual reporting period beginning on or after January 1, 2019, with early application permitted. These amendments are currently not applicable to us but may apply to future transactions. • Amendments to IAS 12, Income Taxes, Income tax consequences of payments on financial instruments classified as equity The amendments clarify that the income tax consequences of dividends are linked more directly to past transactions or events that generated distributable profits than to distributions to owners. Therefore, an entity recognizes the income tax consequences of dividends in profit or loss, other comprehensive income or equity according to where the entity originally recognized those past transactions or events. An entity applies those amendments for annual reporting periods beginning on or after January 1, 2019, with early application permitted. These amendments are not relevant to us because the dividends we declared do not give rise to tax obligations under the current tax laws. • Amendments to IAS 23, Borrowing Costs, Borrowing Costs eligible for Capitalization The amendments clarify that an entity treats as part of general borrowings any borrowing originally made to develop a qualifying asset when substantially all of the activities necessary to prepare that asset for its intended use or sale are complete. An entity applies those amendments to borrowing costs incurred on or after the beginning of the annual reporting period in which the entity first applies those amendments. An entity applies those amendments for annual reporting periods beginning on or after January 1, 2019, with early application permitted. Since our current practice is in line with these amendments, we do not expect any effect on our consolidated financial statements upon adoption. Effective beginning on or after January 1, 2020 • Amendments to IFRS 3, Business Combinations, Definition of a Business The amendments to IFRS 3 clarify the minimum requirements to be a business, remove the assessment of a market participant’s ability to replace missing elements, and narrow the definition of outputs. The amendments also add guidance to assess whether an acquired process is substantive and add illustrative examples. An optional fair value concentration test is introduced which permits a simplified assessment of whether an acquired set of activities and assets is not a business. An entity applies those amendments prospectively for annual reporting periods beginning on or after January 1, 2020, with earlier application permitted. These amendments will apply on our future business combinations. • Amendments to IAS 1, Presentation of Financial Statements, Accounting Policies, Changes in Accounting Estimates and Errors, Definition of Material The amendments refine the definition of material in IAS 1 and align the definition used across IFRSs and other pronouncements. They are intended to improve the understanding of the existing requirements rather than to significantly impact an entity’s materiality judgments. An entity applies those amendments prospectively for annual reporting periods beginning on or after January 1, 2020 with early application permitted. These amendments have no material impact on our consolidated financial statements. Effective beginning on or after January 1, 2021 • IFRS 17 , Insurance Contracts IFRS 17 is a comprehensive new accounting standard for insurance contracts covering recognition and measurement, presentation and disclosure. Once effective, IFRS 17 will replace IFRS 4, Insurance Contracts The overall objective of IFRS 17 is to provide an accounting model for insurance contracts that is more useful and consistent for insurers. In contrast to the requirements in IFRS 4, which are largely based on grandfathering previous local accounting policies, IFRS 17 provides a comprehensive model for insurance contracts, covering all relevant accounting aspects. The core of IFRS 17 is the general model, supplemented by: 1. A specific adaptation for contracts with participation features (the variable fee approach); and 2. A simplified approach (the premium allocation approach) mainly for short-duration contracts. IFRS 17 is effective for reporting periods beginning on or after January 1, 2021, with comparative figures required. The standard has no significant impact on our consolidated financial statements. Deferred effectivity • Amendments to IFRS 10, Consolidated Financial Statements Sale or Contribution of Assets between an Investor and its Associate or Joint Venture The amendments address the conflict between the IFRS 10 and IAS 28 in dealing with the loss of control of a subsidiary that is sold or contributed to an associate or joint venture. The amendments clarify that a full gain or loss is recognized when a transfer to an associate or joint venture involves a business as defined in IFRS 3. Any gain or loss resulting from the sale or contribution of assets that does not constitute a business, however, is recognized only to the extent of unrelated investors’ interests in the associate or joint venture. On January 13, 2016, the FRSC deferred the original effective date of January 1, 2016 of the said amendments until the IASB completes its broader review of the research project on equity accounting that may result in the simplification of accounting for such transactions and of other aspects of accounting for associates and joint ventures. We are currently assessing the impact of this amendment. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Significant Accounting Policies [Abstract] | |
Summary of Subsidiaries | Our consolidated financial statements include the financial statements of PLDT and the following subsidiaries (collectively, the “PLDT Group”) as at December 31, 2018 and 2017: 2018 2017 Place of Percentage of Ownership Name of Subsidiary Incorporation Principal Business Activity Direct Indirect Direct Indirect Wireless Smart: Philippines Cellular mobile services 100.0 — 100.0 — Smart Broadband, Inc., or SBI, and Subsidiary Philippines Internet broadband distribution services — 100.0 — 100.0 Primeworld Digital Systems, Inc., or PDSI Philippines Internet broadband distribution services — 100.0 — 100.0 I-Contacts Corporation Philippines Operations support servicing business — 100.0 — 100.0 Smart Money Holdings Corporation, or SMHC (a) Cayman Islands Investment company — 100.0 — 100.0 Far East Capital Limited, or FECL, and Subsidiary, or FECL Group (a) Cayman Islands Cost effective offshore financing and risk management activities for Smart — 100.0 — 100.0 PH Communications Holdings Corporation, or PHC Philippines Investment company — 100.0 — 100.0 Connectivity Unlimited Resource Enterprise, or CURE Philippines Cellular mobile services — 100.0 — 100.0 Francom Holdings, Inc., or FHI: Philippines Investment company — 100.0 — 100.0 Chikka Holdings Limited, or Chikka, and Subsidiaries, or Chikka Group (a) British Virgin Islands Content provider, mobile applications development and services — 100.0 — 100.0 Wifun, Inc., or Wifun Philippines Software developer and selling of WiFi access equipment — 100.0 — 100.0 Telesat, Inc. (a) Philippines Satellite communications services 100.0 — 100.0 — ACeS Philippines Cellular Satellite Corporation, or ACeS Philippines Philippines Satellite information and messaging services 88.5 11.5 88.5 11.5 Digitel Mobile Philippines, Inc., or DMPI, (a wholly-owned subsidiary of Digitel) Philippines Cellular mobile services — 99.6 — 99.6 Fixed Line PLDT Clark Telecom, Inc., or ClarkTel Philippines Telecommunications services 100.0 — 100.0 — PLDT Subic Telecom, Inc., or SubicTel Philippines Telecommunications services 100.0 — 100.0 — PLDT Global Corporation, or PLDT Global, and Subsidiaries British Virgin Islands Telecommunications services 100.0 — 100.0 — Smart-NTT Multimedia, Inc. (a) Philippines Data and network services 100.0 — 100.0 — PLDT-Philcom, Inc., or Philcom, and Subsidiaries, or Philcom Group Philippines Telecommunications services 100.0 — 100.0 — Talas Data Intelligence, Inc., or Talas Philippines Business infrastructure and solutions; intelligent data processing and implementation services and data analytics insight generation 100.0 — 100.0 — ePLDT, Inc., or ePLDT: Philippines Information and communications infrastructure for internet-based services, e-commerce, customer relationship management and IT related services 100.0 — 100.0 — IP Converge Data Services, Inc., or IPCDSI, and Subsidiary, or IPCDSI Group Philippines Information and communications infrastructure for internet-based services, e-commerce, customer relationship management and IT related services — 100.0 — 100.0 Curo Teknika, Inc., or Curo Philippines Managed IT outsourcing — 100.0 — 100.0 ABM Global Solutions, Inc., or AGS, and Subsidiaries, or AGS Group Philippines Internet-based purchasing, IT consulting and professional services — 100.0 — 100.0 ePDS, Inc., or ePDS Philippines Bills printing and other related value-added services, or VAS — 95.0 — 67.0 netGames, Inc. (b) Philippines Gaming support services — 57.5 — 57.5 MVP Rewards Loyalty Solutions, Inc., or MRSI (c) Philippines Full-services customer rewards and loyalty programs — 100.0 — — Digitel: Philippines Telecommunications services 99.6 — 99.6 — Digitel Information Technology Services, Inc. (a) Philippines Internet services — 99.6 — 99.6 PLDT-Maratel, Inc., or Maratel Philippines Telecommunications services 98.0 — 98.0 — Bonifacio Communications Corporation, or BCC Philippines Telecommunications, infrastructure and related VAS 75.0 — 75.0 — Pacific Global One Aviation Company, Inc., or PG1 Philippines Air transportation business 65.0 — 65.0 — Pilipinas Global Network Limited, or PGNL, and Subsidiaries British Virgin Islands Internal distributor of Filipino channels and content 64.6 — 64.6 — Others PLDT Global Investments Holdings, Inc., or PGIH Philippines Investment company 100.0 — 100.0 — PLDT Digital Investments Pte. Ltd., or PLDT Digital, and Subsidiaries Singapore Investment company 100.0 — 100.0 — Mabuhay Investments Corporation, or MIC (a) Philippines Investment company 67.0 — 67.0 — PLDT Global Investments Corporation, or PGIC British Virgin Islands Investment company — 100.0 — 100.0 PLDT Communications and Energy Ventures, Inc., or PCEV Philippines Investment company — 99.9 — 99.9 Voyager Innovations Holdings, Pte. Ltd., or VIH, (formerly eInnovations Holdings Pte. Ltd.) (d) Singapore Investment company — — — 100.0 Voyager Innovations Investments Pte. Ltd., or VII, (formerly Takatack Holdings Pte. Ltd.) (e) Singapore Investment company — — — 100.0 Voyager Innovations Singapore Pte. Ltd., or VIS, (formerly Takatack Technologies Pte. Ltd.) (f) Singapore Development and maintenance of IT-based solutions for communications and e-Commerce platforms — — — 100.0 Takatack Malaysia Sdn. Bhd., or Takatack Malaysia Malaysia Development, maintenance and support services to enable the digital commerce ecosystem — — — 100.0 Voyager Innovations, Inc., or Voyager Philippines Mobile applications and digital platform developer — — — 100.0 Voyager Innovations Pte. Ltd., or VIP, (formerly ePay Investments Pte. Ltd.) (g) Singapore Investment company — — — 100.0 PayMaya Philippines, Inc., or PayMaya Philippines Provide and market certain mobile payment services — — — 100.0 PayMaya Operations Philippines, Inc., or PayMaya Ops Philippines Market, sell and distribute payment solutions and other related services — — — 100.0 ePay Investments Myanmar, Ltd., or ePay Myanmar (h) Myanmar Investment company — — — 100.0 3rd Brand Pte. Ltd., or 3rd Brand (i) Singapore Solutions and systems integration services — — — 85.0 Voyager Fintech Ventures Pte. Ltd., or Fintech Ventures Singapore Investment company — — — 100.0 Fintqnologies Corporation, or FINTQ Philippines Development of financial technology innovations — — — 100.0 Fintq Inventures Insurance Agency Corporation Philippines Insurance company — — — 100.0 (a) (b) (c) ( d ) On July 11, 2017, the Accounting and Corporate Regulatory Authority, or ACRA, of Singapore approved the change in business name of eInnovations Holdings Pte. Ltd. to Voyager Innovations Holdings Pte. Ltd. On April 16, 2018, the ACRA of Singapore approved the transfer of VIH to PCEV. On November 28, 2018, upon closing of the subscription agreements of PLDT, Tencent Holdings Limited, or Tencent, and KKR & Co., Inc., or KKR, PCEV’s ownership in VIH was reduced to 53.87% and with only two board seats in the investee, the transaction resulted to a loss of control. On December 10, 2018, PCEV’s ownership in VIH was further reduced to 48.74% upon receipt of the investments from International Finance Corp., or IFC, and IFC Emerging Asia Fund, or IFC EAF. PCEV accounts for its remaining interest in VIH as investment in associate starting December 2018. ( e ) ( f ) ( g ) ( h ) ( i ) rd |
Reconciliation of Carrying Amounts of Financial Instruments from Their Previous Classification Measurement Category | As at January 1, 2018, we have reviewed and assessed all of its existing financial instruments. The following table reconciles the carrying amounts of financial instruments from their previous classification and measurement category in accordance with IAS 39 to their new classification and measurement categories upon transition to IFRS 9 on January 1, 2018. IAS 39 Remeasurement IFRS 9 Reference Category Amount Reclassification ECL Others Amount Category (in million pesos) Financial Assets Cash and cash equivalents Loans and receivables 32,905 — — — 32,905 Amortized Cost Short-term investments Loans and receivables 1,074 — — — 1,074 Amortized Cost Trade and other receivables 3, 5 Loans and receivables 33,761 (4,091 ) (258 ) — 29,412 Amortized Cost Current portion of investment in debt securities and other long-term investments Loans and receivables 100 — — — 100 Amortized Cost Current portion of advances and other noncurrent assets 3, 5 Loans and receivables 6,824 (6,785 ) — — 39 Amortized Cost Less: To Financial instruments at FVPL (6,785 ) To Financial instruments at FVOCI (4,091 ) Advances and other noncurrent assets – net of current portion 3, 5 Loans and receivables 13,855 (11,461 ) (18 ) — 2,376 Amortized Cost Less: To Financial instruments at FVOCI (11,461 ) Investment in debt securities and other long-term investments – net of current portion 2 N/A 150 — — 150 Amortized Cost Add: From HTM investments 150 Loans and receivables 88,519 (22,187 ) (276 ) — 66,056 Amortized Cost Investment in debt securities and other long-term investments – net of current portion 2 Held-to- maturity 150 (150 ) Less: To Financial instruments at amortized cost (150 ) Held-to- maturity 150 (150 ) Current portion of derivative financial assets 1 Derivatives used for hedging 171 (171 ) — — — Derivative financial assets – net of current portion 1 Derivatives used for hedging 215 (215 ) — — — Current portion of derivative financial liabilities 1 Derivatives used for hedging (51 ) 51 — — — Derivative financial liabilities – net of current portion 1 Derivatives used for hedging (8 ) 8 — — — Less: To financial assets at FVPL (327 ) Derivatives used for hedging 327 (327 ) Available-for-sale financial investments 4 Available- for-sale financial investments 15,165 (15,165 ) — — — Less: To financial assets at FVPL (15,165 ) Available- for-sale financial investments 15,165 (15,165 ) — — — Trade and other receivables 3, 5 N/A 4,091 — (8 ) 4,083 FVOCI Advances and other noncurrent assets – net of current portion 3, 5 N/A 11,461 — (128 ) 11,333 FVOCI Add: From Loans and receivables 15,552 15,552 — (136 ) 15,416 FVOCI Current portion of derivative financial assets 1 N/A 171 — — 171 FVPL Derivative financial assets – net of current portion 1 N/A 215 — — 215 FVPL Current portion of derivative financial liabilities 1 N/A (51 ) — — (51 ) FVPL Derivative financial liabilities – net of current portion 1 N/A (8 ) — — (8 ) FVPL Current portion of advances and other noncurrent assets 3 N/A 6,785 — — 6,785 FVPL Available-for-sale financial investments 4 N/A 15,165 — — 15,165 FVPL Add: From Loans and receivables 6,785 — — — From Available-for-sale financial investments 15,165 — — — From Derivatives used for hedging 327 — — — 22,277 — — 22,277 FVPL (1) (2) (3) (4) (5) The following table sets forth our consolidated carrying values and estimated fair values of our financial assets and liabilities recognized as at December 31, 2018 and 2017 other than those whose carrying amounts are reasonable approximations of fair values: Carrying Value Fair Value 2018 2017 2018 2017 (in million pesos) Noncurrent Financial Assets Debt instruments at amortized cost 150 — 148 — Investment in debt securities and other long-term investments – net of current portion — 150 — 151 Other financial assets – net of current portion 2,275 — 2,020 — Advances and other noncurrent assets — 13,855 — 13,695 Total 2,425 14,005 2,168 13,846 Noncurrent Financial Liabilities Interest-bearing financial liabilities: Long-term debt – net of current portion 155,835 157,654 139,504 150,918 Customers' deposits 2,194 2,443 1,305 1,700 Deferred credits and other noncurrent liabilities 3,088 5,680 2,583 5,093 Total 161,117 165,777 143,392 157,711 |
Summary of Effect of Adopting IFRS 9 | The effect of adopting IFRS 9 as at January 1, 2018 were, as follows: Reference Increase (Decrease) (in million pesos) Assets: Financial assets at FVOCI 3 (136 ) Total assets (136 ) Total adjustment on equity: Retained earnings 4 4,491 Other comprehensive income 4 (4,627 ) (136 ) |
Reconciliation of Prior Period Closing Impairment Allowance, Provisions and Opening Impairment Allowance | The table below presents a reconciliation of the prior period’s closing impairment allowance measured in accordance with IAS 39 to the opening impairment allowance determined in accordance with IFRS 9 as at January 1, 2018. Measurement category Reference Impairment allowance under IAS 39 Retained earnings, beginning Remeasurement Impairment allowance under IFRS 9 (in million pesos) Loans and receivables (IAS 39)/ Financial assets at amortized cost (IFRS 9) Trade and other receivables 5 14,501 258 14,759 Contract assets 5 — 114 114 Other financial assets 5 — 18 18 14,501 390 14,891 |
Summary of Effect of Adopting IFRS 15 | The effect of adopting IFRS 15 as at January 1, 2018 was as follows: Reference Increase (Decrease) (in millions) Assets Trade and other receivables C (37 ) Contract assets B and C 3,880 Deferred income tax assets B and C (918 ) Total assets 2,925 Liabilities Contract liabilities and unearned revenues B and C 178 Deferred income tax liabilities B and C 194 Total liabilities 372 Net impact on equity Retained earnings B and C 2,553 |
Disclosure of Effect of Adoption of IFRS 15 in Summarized Financial Information | Consolidated statement of profit or loss for the year ended December 31, 2018 Reference IFRS 15 IAS 18 Increase (Decrease) (in millions) Revenue from contracts with customers Service revenues A and C 154,207 157,845 (3,638 ) Non-service revenues A, B and C 10,545 7,602 2,943 Revenue 164,752 165,447 (695 ) Interest income C 1,943 1,486 457 Impairment loss B and C (206 ) — (206 ) Provision for income tax B and C (3,842 ) (3,976 ) 134 Net impact on profit for the year 162,647 162,957 (310 ) Attributable to: Equity holders of parent B and C 162,590 162,900 (310 ) Noncontrolling interests 57 57 — Consolidated statement of financial position for the year ended December 31, 2018 Reference IFRS 15 IAS 18 Increase (Decrease) (in millions) Assets Noncurrent Assets Property and equipment 195,964 195,964 — Investments in associates and joint ventures 55,427 55,427 — Financial assets at fair value through profit or loss 4,763 4,763 — Debt instruments at amortized cost 150 150 — Investment properties 777 777 — Goodwill and intangible assets 68,583 68,583 — Deferred income tax assets – net 27,697 28,530 (833 ) Derivative financial assets - net of current portion 140 140 — Prepayments – net of current portion 6,255 6,255 — Advances and other noncurrent assets – net of current portion 17,083 17,083 — Financial assets at fair value through other comprehensive income – net of current portion 2,749 2,749 — Other financial assets – net of current portion 2,275 2,275 — Contract assets – net of current portion B and C 1,083 — 1,083 Other non-financial assets – net of current portion 230 230 — Total Noncurrent Assets 383,176 382,926 250 Current Assets Cash and cash equivalents 51,654 51,654 — Short-term investments 1,165 1,165 — Trade and other receivables C 24,056 23,958 98 Inventories and supplies 2,878 2,878 — Current portion of contract assets B and C 2,185 — 2,185 Current portion of derivative financial assets 183 183 — Current portion of prepayments 7,760 7,760 — Current portion of advances and other noncurrent assets 620 620 — Current portion of financial assets at fair value through profit or loss 1,604 1,604 — Current portion of other financial assets 7,008 7,008 — Current portion of other non-financial assets 461 461 — Total Current Assets 99,574 97,291 2,283 TOTAL ASSETS 482,750 480,217 2,533 Liabilities and Equity Equity Equity attributable to equity holders of PLDT B and C 112,358 110,115 2,243 Non-controlling interests 4,308 4,308 — Total Equity 116,666 114,423 2,243 Noncurrent Liabilities Interest-bearing financial liabilities – net of current portion 155,835 155,835 — Deferred income tax liabilities 2,981 2,836 145 Customers' deposits 2,194 2,194 — Pension and other employee benefits 7,182 7,182 — Deferred credits and other noncurrent liabilities B and C 5,284 5,226 58 Total Noncurrent Liabilities 173,476 173,273 203 Current Liabilities Accounts payable B and C 74,610 74,610 — Accrued expenses and other current liabilities 95,724 95,637 87 Current portion of interest-bearing financial liabilities 20,441 20,441 — Dividends payable 1,533 1,533 — Derivative financial liabilities 80 80 — Income tax payable 220 220 — Total Current Liabilities 192,608 192,521 87 Total Liabilities 366,084 365,794 290 TOTAL EQUITY AND LIABILITIES 482,750 480,217 2,533 |
Operating Segment Information (
Operating Segment Information (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Text Block1 [Abstract] | |
Summary of Operating Segments | The segment revenues, net income, and other segment information of our reportable operating segments as at and for the years ended December 31, 2018, 2017 and 2016, and are as follows: Wireless Fixed Line Others Inter- segment Transactions Consolidated (in million pesos, except for Adjusted EBITDA margin) December 31, 2018 Revenues External customers 87,193 76,431 1,128 — 164,752 Service revenues 80,265 72,858 1,084 — 154,207 Non-service revenues 6,928 3,573 44 — 10,545 Inter-segment transactions 2,736 8,791 10 (11,537 ) — Service revenues 2,736 8,790 10 (11,536 ) — Non-service revenues — 1 — (1 ) — Total revenues 89,929 85,222 1,138 (11,537 ) 164,752 Results Depreciation and amortization 24,778 22,303 159 — 47,240 Asset impairment 3,319 4,746 — — 8,065 Impairment of investments 60 — 112 — 172 Interest income 719 812 536 (124 ) 1,943 Equity share in net earnings (losses) of associates and joint ventures 62 171 (320 ) — (87 ) Financing costs 1,865 5,195 131 (124 ) 7,067 Provision for income tax 1,333 1,336 1,173 — 3,842 Net income (loss) / Segment profit (loss) 5,725 6,059 7,971 (782 ) 18,973 Adjusted EBITDA 34,235 30,875 (2,688 ) 1,605 64,027 Adjusted EBITDA margin 41 % 38 % (246%) (14%) (42%) Core income 9,760 6,925 9,952 (782 ) 25,855 Assets and liabilities Operating assets 230,182 199,557 30,962 (61,075 ) 399,626 Investments in associates and joint ventures — 43,426 12,001 — 55,427 Deferred income tax assets – net 16,879 12,479 (1,119 ) (542 ) 27,697 Total assets 247,061 255,462 41,844 (61,617 ) 482,750 Operating liabilities 168,837 206,812 16,773 (29,319 ) 363,103 Deferred income tax liabilities – net 2,321 482 367 (189 ) 2,981 Total liabilities 171,158 207,294 17,140 (29,508 ) 366,084 Other segment information Capital expenditures, including capitalized interest (Note 9) 32,248 26,242 — — 58,490 December 31, 2017 Revenues External customers 91,288 67,389 1,249 — 159,926 Service revenues 86,128 63,811 1,226 — 151,165 Non-service revenues 5,160 3,578 23 — 8,761 Inter-segment transactions 1,284 10,952 30 (12,266 ) — Service revenues 1,284 10,946 30 (12,260 ) — Non-service revenues — 6 — (6 ) — Total revenues 92,572 78,341 1,279 (12,266 ) 159,926 Results Depreciation and amortization 36,776 15,001 138 — 51,915 Asset impairment 6,104 2,098 56 — 8,258 Impairment of investments 439 1,583 540 — 2,562 Equity share in net earnings (losses) of associates and joint ventures (129 ) 44 2,991 — 2,906 Interest income 305 695 655 (243 ) 1,412 Financing costs 2,247 5,106 214 (197 ) 7,370 Provision for income tax (2,787 ) 3,680 210 — 1,103 Net income (loss) / Segment profit (loss) (2,215 ) 7,474 8,825 (618 ) 13,466 Adjusted EBITDA 36,395 29,478 (1,307 ) 1,608 66,174 Adjusted EBITDA margin 42 % 39 % (104%) (13%) 44 % Core income 9,812 8,846 9,628 (618 ) 27,668 Assets and liabilities Operating assets 211,983 174,217 34,504 (37,856 ) 382,848 Investments in associates and joint ventures — 44,867 1,263 — 46,130 Deferred income tax assets – net 18,826 11,994 — (354 ) 30,466 Total assets 230,809 231,078 35,767 (38,210 ) 459,444 Operating liabilities 153,622 196,451 13,624 (18,802 ) 344,895 Deferred income tax liabilities – net 2,656 286 424 — 3,366 Total liabilities 156,278 196,737 14,048 (18,802 ) 348,261 Other segment information Capital expenditures, including capitalized interest (Note 9) 27,305 12,994 — — 40,299 December 31, 2016 Revenues External customers 102,639 61,806 817 — 165,262 Service revenues 98,406 58,086 718 — 157,210 Non-service revenues 4,233 3,720 99 — 8,052 Inter-segment transactions 1,448 10,922 30 (12,400 ) — Service revenues 1,448 10,920 30 (12,398 ) — Non-service revenues — 2 — (2 ) — Total revenues 104,087 72,728 847 (12,400 ) 165,262 Results Depreciation and amortization 18,767 15,471 217 — 34,455 Asset impairment 9,016 1,758 268 — 11,042 Impairment of investments — 134 5,381 — 5,515 Interest income 269 707 307 (237 ) 1,046 Equity share in net earnings (losses) of associates and joint ventures (127 ) (40 ) 1,348 — 1,181 Financing costs 2,482 4,917 192 (237 ) 7,354 Provision for income tax (1,257 ) 3,018 148 — 1,909 Net income (loss) / Segment profit (loss) 10,618 8,134 1,410 — 20,162 Adjusted EBITDA 32,915 26,950 (276 ) 1,572 61,161 Adjusted EBITDA margin 33 % 39 % (37%) (13%) 39 % Core income 12,275 7,746 7,836 — 27,857 Assets and liabilities Operating assets 217,964 183,533 22,804 (33,388 ) 390,913 Investments in associates and joint ventures 1,945 40,874 14,039 — 56,858 Deferred income tax assets – net 13,985 13,363 — — 27,348 Total assets 233,894 237,770 36,843 (33,388 ) 475,119 Operating liabilities 161,480 203,777 12,637 (14,879 ) 363,015 Deferred income tax liabilities – net 2,923 384 260 — 3,567 Total liabilities 164,403 204,161 12,897 (14,879 ) 366,582 Other segment information Capital expenditures, including capitalized interest (Note 9) 32,097 10,728 — — 42,825 Certain revenues and expenses in 2017 and 2016 were reclassified to conform with the 2018 presentation. |
Summary of Reconciliation of Consolidated Net Income to Consolidated Adjusted EBITDA | The following table shows the reconciliation of our consolidated net income to our consolidated adjusted EBITDA for the years ended December 31, 2018, 2017 and 2016: 2018 2017 2016 (in million pesos) Consolidated net income 18,973 13,466 20,162 Add (deduct) adjustments: Depreciation and amortization 47,240 51,915 34,455 Financing costs 7,067 7,370 7,354 Provision for income tax 3,842 1,103 1,909 Noncurrent asset impairment 2,122 3,913 1,074 Amortization of intangible assets 892 835 929 Foreign exchange losses – net 771 411 2,785 Impairment of investments (Note 10) 172 2,562 5,515 Equity share in net losses (earnings) of associates and joint ventures 87 (2,906 ) (1,181 ) Gains on derivative financial instruments – net (1,086 ) (533 ) (996 ) Interest income (1,943 ) (1,412 ) (1,046 ) Other income – net (14,110 ) (10,550 ) (9,799 ) Total adjustments 45,054 52,708 40,999 Consolidated Adjusted EBITDA 64,027 66,174 61,161 |
Summary of Reconciliation of Consolidated Net Income to Consolidated Core Income | The following table shows the reconciliation of our consolidated net income income to our consolidated core income for the years ended December 31, 2018, 2017 and 2016: 2018 2017 2016 (in million pesos) Consolidated net income 18,973 13,466 20,162 Add (deduct) adjustments: Depreciation due to shortened life of property and equipment 4,564 12,816 — Noncurrent asset impairment 2,122 3,913 1,074 Manpower rightsizing program, or MRP 1,703 — — Loss in fair value of investments 1,154 — — Foreign exchange losses – net 771 411 2,785 Investment written-off 362 — — Impairment of investments (Note 10) 172 2,562 5,515 Core income adjustment on equity share in net losses of associates and joint ventures 23 60 95 Net income attributable to noncontrolling interests (57 ) (95 ) (156 ) Other nonrecurring income (1,018 ) — — Gains on derivative financial instruments – net, excluding hedge costs (Note 27) (1,135 ) (724 ) (1,539 ) Net tax effect of aforementioned adjustments (1,779 ) (4,741 ) (79 ) Total adjustments 6,882 14,202 7,695 Consolidated core income 25,855 27,668 27,857 |
Summary of Reconciliation of Consolidated Basic and Diluted Core EPS to Consolidated Basic and Diluted EPS Attributable to Common Equity Holder of PLDT | The following table shows the reconciliation of our consolidated basic and diluted core EPS to our consolidated basic and diluted EPS attributable to common equity holder of PLDT for the years ended December 31, 2018, 2017 and 2016: 2018 2017 2016 Basic Diluted Basic Diluted Basic Diluted Consolidated core EPS 119.39 119.39 127.79 127.79 128.66 128.66 Add (deduct) adjustments: Gains on derivative financial instruments – net, excluding hedge costs 4.08 4.08 2.34 2.34 4.99 4.99 Core income adjustment on equity share in net losses associates and joint ventures (0.11 ) (0.11 ) (0.28 ) (0.28 ) (0.44 ) (0.44 ) Impairment of investment (0.80 ) (0.80 ) (11.86 ) (11.86 ) (25.52 ) (25.52 ) Investment written-off (1.68 ) (1.68 ) — — — — Foreign exchange losses – net (3.57 ) (3.57 ) (1.74 ) (1.74 ) (10.40 ) (10.40 ) Loss in fair value of investments (5.34 ) (5.34 ) — — — — MRP (5.52 ) (5.52 ) — — — — Asset impairment (9.82 ) (9.82 ) (13.12 ) (13.12 ) (4.96 ) (4.96 ) Depreciation due to shortened life of property and equipment (14.06 ) (14.06 ) (41.52 ) (41.52 ) — — Other nonrecurring income and others 4.71 4.71 — — — — Total adjustments (32.11 ) (32.11 ) (66.18 ) (66.18 ) (36.33 ) (36.33 ) Consolidated EPS attributable to common equity holders of PLDT 87.28 87.28 61.61 61.61 92.33 92.33 |
Summary of Revenues from External Customers by Category of Products and Services | The following table presents our revenues from external customers by category of products and services for the years ended December 31, 2018, 2017 and 2016: 2018 2017 2016 (in million pesos) Wireless services Service revenues: Mobile 79,904 83,166 95,066 Home broadband 155 2,547 2,758 MVNO and others 206 415 582 80,265 86,128 98,406 Non-service revenues: Sale of mobile handsets and broadband data modems 6,928 5,160 4,233 Total wireless revenues 87,193 91,288 102,639 Fixed line services Service revenues: Voice 22,986 25,296 25,502 Data 48,858 37,445 31,727 Miscellaneous 1,014 1,070 857 72,858 63,811 58,086 Non-service revenues: Sale of computers, phone units and SIM cards 3,056 2,706 2,907 Point-product-sales 517 872 813 3,573 3,578 3,720 Total fixed line revenues 76,431 67,389 61,806 Other services 1,128 1,249 817 Total revenues 164,752 159,926 165,262 |
Income and Expenses (Tables)
Income and Expenses (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Analysis Of Income And Expense [Abstract] | |
Summary of Revenue from Contracts with Customers | Set out is the disaggregation of PLDT Group’s revenue for the year ended December 31, 2018 Revenue Streams Wireless Fixed Line Others Inter- segment Transactions Consolidated (in million pesos) December 31, 2018 Type of good or service Service revenue 83,001 81,648 1,094 (11,536 ) 154,207 Non-service revenue 6,928 3,574 44 (1 ) 10,545 Total revenue from contracts with customers 89,929 85,222 1,138 (11,537 ) 164,752 Timing of revenue recognition Transferred over time 83,001 81,648 1,094 (11,536 ) 154,207 Transferred at a point time 6,928 3,574 44 (1 ) 10,545 Total revenue from contracts with customers 89,929 85,222 1,138 (11,537 ) 164,752 |
Summary of Contract Balances | Contract balances as at December 31, 2018 and 2017 consists of the following: 2018 2017 (in million pesos) Trade and other receivables (Note 16) 40,559 48,262 Contract assets 3,399 — Contract liabilities and unearned revenues 7,182 8,363 |
Summary of Movement in Allowance for Expected Credit Losses of Contracts Assets | Set out below is the movement in the allowance for expected credit losses of contracts assets. 2018 (in million pesos) Balance at beginning of the year 114 Provisions during the year 17 Balance at end of the year 131 |
Summary of Contract Liabilities and Unearned Revenues Account | Changes in the contract liabilities and unearned revenues accounts for the year ended December 31, 2018 are as follows: 2018 (in million pesos) Balances as at January 1, 2018, as restated 8,541 Deferred during the year 102,288 Recognized as revenue during the year (103,647 ) Balance at end of the year 7,182 |
Summary of Changes in Contract Liabilities and Unearned Revenues Accounts | The contract liabilities and unearned revenues accounts as at December 31, 2018 are as follows: 2018 (in million pesos) Long-term advances from postpaid subscribers 145 Short-term advances for installatin services 558 Leased facilities 34 Advance monthly service fees 2,386 Unearned revenues from prepaid contracts 4,059 Total contract liabilities and unearned revenues 7,182 Contract liabilities: Current 87 Noncurrent 58 Unearned revenues: Current 6,563 Noncurrent 474 |
Summary of Selling, General and Administrative Expenses | Selling, general and administrative expenses for the year sended December 31, 2018, 2017 and 2016 consist of the following: 2018 2017 2016 (in million pesos) Compensation and employee benefits 23,543 22,782 19,928 Repairs and maintenance (Notes 13, 17 and 24) 14,331 12,744 14,706 Professional and other contracted services (Note 24) 12,809 12,168 9,386 Rent (Note 24) 7,321 7,016 6,632 Selling and promotions (Note 24) 6,340 5,908 7,687 Taxes and licenses (Note 26) 4,974 3,970 3,782 Insurance and security services (Note 24) 1,499 1,519 1,736 Communication, training and travel (Note 24) 1,069 1,166 1,249 Amortization of intangible assets (Note 14) 892 835 929 Other expenses 1,138 882 1,161 Total selling, general and administrative expenses 73,916 68,990 67,196 |
Summary of Compensation and Employee Benefits | Compensation and employee benefits for the year ended December 31, 2018, 2017 and 2016 consist of the following: 2018 2017 2016 (in million pesos) Salaries and other employee benefits 19,777 18,598 17,734 Pension benefit costs (Note 25) 1,855 1,610 1,775 MRP 1,703 1,747 419 Incentive plan (Note 25) 208 827 — Total compensation and employee benefits 23,543 22,782 19,928 |
Summary of Cost of Sales and Services | Cost of sales and services for the years ended Decemeber 31, 2018, 2017 and 2016 consist of the following: 2018 2017 2016 (in million pesos) Cost of computers, mobile handsets and broadband data modems (Note 17) 10,513 10,277 16,053 Cost of services (Note 17) 3,429 2,572 1,540 Cost of point-product-sales (Note 17) 485 784 700 Total cost of sales and services 14,427 13,633 18,293 |
Summary of Asset Impairment | Asset impairment for the years ended December 31, 2018, 2017 and 2016 consist of the following: 2018 2017 2016 (in million pesos) Trade and other receivables (Note 16) 4,192 3,438 8,027 Property and equipment (Note 9) 1,958 3,913 — Inventories and supplies (Note 17) 1,528 907 1,941 Contract assets 223 — — Goodwill and intangible assets (Note 14) — — 1,038 Other assets 164 — 36 Total asset impairment 8,065 8,258 11,042 |
Disclosure of Other Income (Expenses) - Net | Other income (expenses) – net for the years ended December 31, 2018, 2017 and 2016 consist of the following: 2018 2017 2016 (in million pesos) Gain on deconsolidation of VIH (Note 2) 12,054 — — Interest income 1,943 1,412 1,046 Gains on derivative financial instruments – net (Note 27) 1,086 533 996 Equity share in net earnings (losses) of associates and joint ventures (Note 10) (87 ) 2,906 1,181 Foreign exchange losses – net (Note 9 ) (771 ) (411 ) (2,785 ) Financing costs (7,067 ) (7,370 ) (7,354 ) Others – net (Notes 10, 11 and 13) 1,884 7,988 4,284 Total other income (expenses) – net 9,042 5,058 (2,632 ) |
Summary of Interest Income | Interest income for the years ended December 31, 2018, 2017 and 2016 consist of the following: 2018 2017 2016 (in million pesos) Interest income on financial instruments at amortized cost (Notes 12 and 15) 1,486 — — Interest income arising from revenue contracts with customers 457 — — Interest income on loans and receivables (Notes 15 and 16) — 1,404 980 Interest income on HTM investments (Note 12) — 8 36 Interest income on financial instruments at FVPL — — 30 Total interest income 1,943 1,412 1,046 |
Summary of Financing Costs | Financing costs for the years ended December 31, 2018, 2017 and 2016 consist of the following: 2018 2017 2016 (in million pesos) Interest on loans and other related items (Notes 20 and 27) 8,307 7,830 7,522 Accretion on financial liabilities (Note 20) 145 219 230 Financing charges 139 137 168 Capitalized interest (Note 9) (1,524 ) (816 ) (566 ) Total financing costs 7,067 7,370 7,354 |
Components of Other Comprehen_2
Components of Other Comprehensive Income (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Text Block1 [Abstract] | |
Summary of Changes in Other Comprehensive Loss | Changes in other comprehensive loss under equity of our consolidated statements of financial position for the years ended December 31, 2018, 2017 and 2016 are as follows: Foreign currency translation differences of subsidiaries Net gains (loss) on available -for-sale financial investments – net of tax Net transactions on cash flow hedges – net of tax Revaluation increment on investment properties – net of tax Actuarial losses on defined benefit plans – net of tax Share in the other comprehensive income of associates and joint ventures accounted for using the equity method Financial instrument at FVOCI Total other comprehensive income (loss) attributable to equity holders of PLDT Share of noncontrolling interests Total other comprehensive income (loss) – net of tax (in million pesos) Balances as at January 1, 2018 583 4,300 (369 ) 620 (24,467 ) 182 — (19,151 ) 14 (19,137 ) Change on initial application of IFRS 9 (Note 2) — (4,309 ) — — — (182 ) (136 ) (4,627 ) — (4,627 ) Balances as at January 1, 2018, as restated 583 (9 ) (369 ) 620 (24,467 ) — (136 ) (23,778 ) 14 (23,764 ) Other comprehensive income (loss) 112 — (271 ) (2 ) (1,222 ) — (29 ) (1,412 ) 5 (1,407 ) Balances as at December 31, 2018 695 (9 ) (640 ) 618 (25,689 ) — (165 ) (25,190 ) 19 (25,171 ) Balances as at January 1, 2017 608 936 7 619 (23,376 ) 312 — (20,894 ) 7 (20,887 ) Other comprehensive income (loss) (25 ) 3,364 (376 ) 1 (1,091 ) 306 — 2,179 7 2,186 Recycled to retained earnings — — — — — (436 ) — (436 ) — (436 ) Balances as at December 31, 2017 583 4,300 (369 ) 620 (24,467 ) 182 — (19,151 ) 14 (19,137 ) Balances as at January 1, 2016 524 76 (3 ) 602 (19,805 ) 404 — (18,202 ) 12 (18,190 ) Other comprehensive income (loss) 84 860 10 17 (3,571 ) 151 — (2,449 ) (5 ) (2,454 ) Recycled to retained earnings — — — — — (243 ) — (243 ) — (243 ) Balances as at December 31, 2016 608 936 7 619 (23,376 ) 312 — (20,894 ) 7 (20,887 ) |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Income Taxes [Abstract] | |
Summary of Major Components of Consolidated Net Deferred Income Tax Assets and Liabilities | The major components of consolidated net deferred income tax assets and liabilities recognized in our consolidated statements of financial position as at December 31, 2018 and 2017 are as follows: 2018 2017 (in million pesos) Net deferred income tax assets 27,697 30,466 Net deferred income tax liabilities 2,981 3,366 |
Summary of Components of Net Deferred Income Tax Assets and Liabilities | The components of our consolidated net deferred income tax assets and liabilities as at December 31, 2018 and 2017 are as follows: 2018 2017 (in million pesos) Net deferred income tax assets: Unamortized past service pension costs 5,252 5,098 Customer list and trademark 4,670 6,760 Pension and other employee benefits 4,296 3,620 Accumulated provision for expected credit losses/doubtful accounts 3,709 3,102 NOLCO 3,231 243 Fixed asset impairment/depreciation due to shortened life of property and equipment 1,870 5,597 Unearned revenues 1,776 1,778 Provision for other assets 1,595 2,523 Unrealized foreign exchange losses 1,092 746 Accumulated provision for inventory obsolescence and write-down 916 669 MCIT 905 607 Derivative financial instruments (58 ) (30 ) Others (1,557 ) (247 ) Total deferred income tax assets – net 27,697 30,466 Net deferred income tax liabilities: Intangible assets and fair value adjustment on assets acquired – net of amortization 2,175 2,387 Unrealized foreign exchange gains 366 269 Investment property 277 207 Undepreciated capitalized interest charges 7 8 Unamortized fair value adjustment on fixed assets from business combination — 338 Others 156 157 Total deferred income tax liabilities 2,981 3,366 |
Summary of Changes in Consolidated Net Deferred Income Tax Assets (Liabilities) | Changes in our consolidated net deferred income tax assets (liabilities) as at December 31, 2018 and 2017 are as follows: 2018 2017 (in million pesos) Net deferred income tax assets – balance at beginning of the year 30,466 27,348 Net deferred income tax liabilities – balance at beginning of the year (3,366 ) (3,567 ) Net balance at beginning of the year 27,100 23,781 Movement charged directly to other comprehensive income 591 507 Excess MCIT deducted against RCIT due (370 ) — Adjustments due to adoption of IFRS 15 (1,166 ) — Benefit from (provision for) deferred income tax (1,375 ) 2,738 Others (64 ) 74 Net balance at end of the year 24,716 27,100 Net deferred income tax assets – balance at end of the year 27,697 30,466 Net deferred income tax liabilities – balance at end of the year (2,981 ) (3,366 ) |
Summary of Analysis of Net Deferred Income Tax Assets | The analysis of our consolidated net deferred income tax assets as at December 31, 2018 and 2017 are as follows: 2018 2017 (in million pesos) Deferred income tax assets: Deferred income tax assets to be recovered after 12 months 25,163 26,246 Deferred income tax assets to be recovered within 12 months 4,872 5,602 30,035 31,848 Deferred income tax liabilities: Deferred income tax liabilities to be settled after 12 months (1,992 ) (1,206 ) Deferred income tax liabilities to be settled within 12 months (346 ) (176 ) (2,338 ) (1,382 ) Net deferred income tax assets 27,697 30,466 |
Summary of Analysis of Net Deferred Income Tax Liabilities | The analysis of our consolidated net deferred income tax liabilities as at December 31, 2018 and 2017 are as follows: 2018 2017 (in million pesos) Deferred income tax liabilities: Deferred income tax liabilities to be settled after 12 months (2,743 ) (3,026 ) Deferred income tax liabilities to be settled within 12 months (238 ) (340 ) Net deferred income tax liabilities (2,981 ) (3,366 ) |
Summary of Provision for Income Tax | Provision for income tax for the years ended December 31, 2018, 2017 and 2016 consist of: 2018 2017 2016 (in million pesos) Current 2,467 3,841 6,043 Deferred 1,375 (2,738 ) (4,134 ) 3,842 1,103 1,909 |
Summary of Reconciliation Between the Provision for Income Tax at the Applicable Statutory Tax Rate and the Actual Provision for Corporate Income Tax | The reconciliation between the provision for income tax at the applicable statutory tax rate and the actual provision for corporate income tax for the years ended December 31, 2018, 2017 and 2016 are as follows: 2018 2017 2016 (in million pesos) Provision for income tax at the applicable statutory tax rate 6,845 4,371 6,621 Tax effects of: Nondeductible expenses 1,235 784 3,239 Equity share in net losses (earnings) of associates and joint ventures 26 (872 ) (354 ) Difference between Optional Standard Deduction, or OSD, and itemized deductions (22 ) (22 ) (20 ) Income subject to final tax (297 ) (2,545 ) (2,879 ) Income subject to lower tax rate (750 ) (520 ) (168 ) Income not subject to income tax (1,827 ) (301 ) (35 ) Net movement in unrecognized deferred income tax assets and other adjustments (1,368 ) 208 (4,495 ) Actual provision for income tax 3,842 1,103 1,909 |
Summary of Amount of Unrecognized Deferred Income Tax Assets | The breakdown of our consolidated deductible temporary differences, carryforward benefits of unused tax credits from excess of MCIT over RCIT, and NOLCO (excluding those not recognized due to the adoption of the OSD method) for which no deferred income tax assets were recognized and the equivalent amount of unrecognized deferred income tax assets as at December 31, 2018 and 2017 are as follows: 2018 2017 (in million pesos) NOLCO 4,289 7,151 Accumulated provision for doubtful accounts 3,144 3,014 Provisions for other assets 1,881 3,735 Fixed asset impairment 1,148 43 Gain on disposal of asset 106 — Unrealized foreign exchange losses 49 105 MCIT 27 111 Unearned revenues 25 1,314 Pension and other employee benefits 13 1,740 Accumulated write-down of inventories to net realizable values 11 303 Asset retirement obligation — 621 Derivative financial instruments and others — 139 10,693 18,276 Unrecognized deferred income tax assets 3,227 5,561 |
Summary of Breakdown of Consolidated Excess MCIT and NOLCO | The breakdown of our consolidated excess MCIT and NOLCO as at December 31, 2018 are as follows: Date Incurred Expiry Date MCIT NOLCO (in million pesos) December 31, 2016 December 31, 2019 108 1,133 December 31, 2017 December 31, 2020 113 2,203 December 31, 2018 December 31, 2021 711 11,724 932 15,060 Consolidated tax benefits 932 4,518 Consolidated unrecognized deferred income tax assets (27 ) (1,287 ) Consolidated recognized deferred income tax assets 905 3,231 |
Earnings Per Common Share (Tabl
Earnings Per Common Share (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Text Block1 [Abstract] | |
Summary of Information Necessary to Calculate EPS | The following table presents information necessary to calculate the EPS for the years ended December 31, 2018, 2017 and 2016: 2018 2017 2016 Basic Diluted Basic Diluted Basic Diluted (in million pesos) Consolidated net income attributable to equity holders of PLDT 18,916 18,916 13,371 13,371 20,006 20,006 Dividends on preferred shares (Note 19) (59 ) (59 ) (59 ) (59 ) (59 ) (59 ) Consolidated net income attributable to common equity holders of PLDT 18,857 18,857 13,312 13,312 19,947 19,947 (in thousands, except per share amounts which are in pesos) Weighted average number of common shares 216,056 216,056 216,056 216,056 216,056 216,056 EPS attributable to common equity holders of PLDT 87.28 87.28 61.61 61.61 92.33 92.33 |
Property and Equipment (Tables)
Property and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Property Plant And Equipment [Abstract] | |
Summary of Changes in Property and Equipment Account | Changes in property and equipment account for the years ended December 31, 2018 and 2017 are as follows: Cable and wire facilities Central office equipment Cellular facilities Buildings and improvements Vehicles, aircraft, furniture and other network equipment Communications satellite Information origination and termination equipment Land and land improvements Property under construction Total (in million pesos) As at December 31, 2016 Cost 196,652 115,461 202,581 25,914 55,973 966 14,596 3,440 50,070 665,653 Accumulated depreciation, impairment and amortization (148,622 ) (96,793 ) (138,189 ) (16,992 ) (48,300 ) (966 ) (12,338 ) (265 ) — (462,465 ) Net book value 48,030 18,668 64,392 8,922 7,673 — 2,258 3,175 50,070 203,188 Year ended December 31, 2017 Net book value at beginning of the year 48,030 18,668 64,392 8,922 7,673 — 2,258 3,175 50,070 203,188 Additions (Note 4) 3,410 687 6,512 159 2,682 — 1,878 1 24,970 40,299 Disposals/Retirements (8 ) — (123 ) (38 ) (316 ) — — — (134 ) (619 ) Reclassifications (Note 13) 5 3 — 3 (7 ) — — 14 (143 ) (125 ) Impairment losses recognized during the year (Note 5) — — (389 ) — — — — — (3,524 ) (3,913 ) Transfers and others 7,612 3,945 8,031 1,285 1,959 — 1,343 3 (24,178 ) — Translation differences charged directly to cumulative translation adjustments — (1 ) — (1 ) (4 ) — — — — (6 ) Depreciation of revaluation increment on investment properties transferred to property and equipment charged to other comprehensive income — — — (2 ) — — — — — (2 ) Depreciation and amortization (11,594 ) (5,340 ) (28,242 ) (1,274 ) (4,106 ) — (1,357 ) (2 ) — (51,915 ) Net book value at end of the year 47,455 17,962 50,181 9,054 7,881 — 4,122 3,191 47,061 186,907 As at December 31, 2017 Cost 207,220 119,642 209,504 27,076 58,964 — 17,595 3,458 50,585 694,044 Accumulated depreciation, impairment and amortization (159,765 ) (101,680 ) (159,323 ) (18,022 ) (51,083 ) — (13,473 ) (267 ) (3,524 ) (507,137 ) Net book value 47,455 17,962 50,181 9,054 7,881 — 4,122 3,191 47,061 186,907 Year ended December 31, 2018 Net book value at beginning of the year 47,455 17,962 50,181 9,054 7,881 — 4,122 3,191 47,061 186,907 Additions (Note 4) 1,278 565 758 120 1,158 — 2,107 — 52,504 58,490 Disposals/Retirements (10 ) (27 ) (60 ) (140 ) (95 ) — — — (9 ) (341 ) Reclassifications (Note 13) 19 (1 ) — 127 (23 ) — — 1,117 — 1,239 Transfers and others 10,409 8,237 37,881 265 1,465 — 1,176 — (59,433 ) — Translation differences charged directly to cumulative translation adjustments — 3 — 1 (3 ) — — — — 1 Deconsolidation of a subsidiary — — (65 ) (794 ) (273 ) — — — — (1,132 ) Impairment losses recognized during the year (Note 5) (299 ) (292 ) (858 ) (480 ) (29 ) — — — — (1,958 ) Depreciation of revaluation increment on investment properties transferred to property and equipment charged to other comprehensive income — — — (2 ) — — — — — (2 ) Depreciation and amortization (11,381 ) (10,480 ) (17,499 ) (2,162 ) (3,382 ) — (2,334 ) (2 ) — (47,240 ) Net book value at end of the year 47,471 15,967 70,338 5,989 6,699 — 5,071 4,306 40,123 195,964 As at December 31, 2018 Cost 217,773 128,321 217,164 26,546 58,711 — 20,823 4,576 40,123 714,037 Accumulated depreciation, impairment and amortization (170,302 ) (112,354 ) (146,826 ) (20,557 ) (52,012 ) — (15,752 ) (270 ) — (518,073 ) Net book value 47,471 15,967 70,338 5,989 6,699 — 5,071 4,306 40,123 195,964 |
Summary of Estimated Useful Lives of Property and Equipment | As at December 31, 2018 and 2017, the estimated useful lives of our property and equipment are estimated as follows: Cable and wire facilities 10 – 15 years Central office equipment 3 – 15 years Cellular facilities 3 – 10 years Buildings 25 – 50 years Vehicles, aircraft, furniture and other network equipment 3 – 7 years Information origination and termination equipment 3 – 5 years Leasehold improvements 3 – 5 years or the term of the lease, which ever is shorter Land improvements 10 years |
Investments in Associates and_2
Investments in Associates and Joint Ventures (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Investment In Associates And Joint Ventures [Line Items] | |
Disclosure of Detailed Information of Investments in Associates and Joint Ventures | As at December 31, 2018 and 2017, this account consists of: 2018 2017 (in million pesos) Carrying value of investments in associates: VIH 10,487 — MediaQuest PDRs 9,262 10,835 Digitel Crossing, Inc., or DCI 591 510 Appcard, Inc. 122 234 Asia Outsourcing Beta Limited, or Beta 36 78 Phunware, Inc., or Phunware — 384 AF Payments, Inc., or AFPI — — ACeS International Limited, or AIL — — Asia Netcom Philippines Corp., or ANPC — — 20,498 12,041 Carrying value of investments in joint ventures: VTI, Bow Arken and Brightshare 32,541 32,550 Multisys 2,388 — Philippines Internet Holding S.à.r.l., or PHIH — 1,539 Beacon — — 34,929 34,089 Total carrying value of investments in associates and joint ventures 55,427 46,130 Changes in the cost of investments for the years ended December 31, 2018 and 2017 are as follows: 2018 2017 (in million pesos) Balance at beginning of the year 51,487 57,465 Additions during the year 13,247 5,633 Disposals (5,230 ) (11,612 ) Translation and other adjustments 15 1 Balance at end of the year 59,519 51,487 Changes in the accumulated impairment losses for the years ended December 31, 2018 and 2017 are as follows: 2018 2017 (in million pesos) Balance at beginning of the year 4,118 1,892 Additional impairment (Note 4) 172 2,223 Translation and other adjustments (1,781 ) 3 Balance at end of the year 2,509 4,118 |
Disclosure Of Changes In Accumulated Equity Share In Net Earnings Of Associates And Joint Ventures Explanatory | Changes in the accumulated equity share in net earnings (losses) of associates and joint ventures for the years ended December 31, 2018 and 2017 are as follows: 2018 2017 (in million pesos) Balance at beginning of the year (1,239 ) 1,285 Equity share in net earnings (losses) of associates and joint ventures: (87 ) 2,906 MediaQuest PDRs 90 (27 ) DCI 81 71 AFPI 62 (130 ) VTI, Bow Arken and Brightshare (60 ) 55 VIH (260 ) — Beta — 2,050 Beacon — 886 PHIH — 1 Share in the other comprehensive loss of associates and joint ventures accounted for using the equity method (1 ) (312 ) Disposals (187 ) (9,610 ) Reversal of impairment — 201 Realized portion of deferred gain on the transfer of Beacon and Manila Electric Company, or Meralco, shares — 4,962 Dividends — (791 ) Translation and other adjustments (69 ) 120 Balance at end of the year (1,583 ) (1,239 ) |
Summarized Financial Information of Associates | 2017 (in million pesos) Statements of Financial Position: Noncurrent assets 1,803 Current assets 2,360 Noncurrent liabilities 151 Current liabilities 336 Equity 3,676 Carrying amount of interest in Hastings 1,664 Additional Information: Cash and cash equivalents 1,304 Current financial liabilities* — Noncurrent financial liabilities* — * 2017 2016 (in million pesos) Income Statements: Revenues 2,129 2,394 Depreciation and amortization 153 153 Interest income 12 18 Interest expense 19 19 Provision for income tax 22 70 Net income (loss) (43 ) 169 Other comprehensive income — — Total comprehensive income (loss) (43 ) 169 Equity share in net income (loss) of Hastings (30 ) 118 |
Summary of Sale of Beacon's Meralco Shares to MPIC | Sale of PCEV’s Beacon Common and Preferred Shares to MPIC PCEV has entered into the following Share Purchase Agreements with MPIC: Date Number of Shares Sold Selling Price (Php) Deferred Gain Realized (Php) (in millions) June 6, 2012 282 Preferred Shares 3,563 2,012 May 30, 2016 646 Common shares and 458 Preferred Shares 26, 200 4,962 June 13, 2017 646 Common shares and 458 Preferred Shares 21,800 4,962 |
Summary of Changes in Allowance for Expected Credit Losses | The following table explains the changes in the allowance for ECLs between the beginning and the end of the annual period. 2018 Stage 1 Stage 2 Stage 3 12-Month ECL Lifetime ECL Lifetime ECL Total (in million pesos) Balance as at beginning of the year 4 — — 4 Financial assets derecognized during the year (2 ) — — (2 ) Balance at end of the year 2 — — 2 |
VTI, Bow Arken and Brightshare [Member] | |
Investment In Associates And Joint Ventures [Line Items] | |
Summarized Financial Information of VTI Bow Arken and Brightshare | The table below presents the summarized financial information of VTI, Bow Arken and Brightshare as at December 31, 2018 and 2017, and for the years ended December 31, 2018, 2017 and 2016: 2018 2017 (in million pesos) Statements of Financial Position: Noncurrent assets 77,261 77,694 Current assets 3,070 2,807 Noncurrent liabilities 11,193 11,373 Current liabilities 2,678 1,936 Equity 66,460 67,192 Carrying amount of interest in VTI, Bow Arken and Brightshare 32,541 32,550 Additional Information: Cash and cash equivalents 2,191 1,961 Current financial liabilities* 607 — Noncurrent financial liabilities* — — * 2018 2017 2016 (in million pesos) Income Statements: Revenues 2,505 2,532 1,189 Depreciation and amortization 1,171 1,168 842 Interest income 43 28 18 Provision for (benefit from) income tax 113 (42 ) 158 Net income (loss) (120 ) 110 (2,055 ) Other comprehensive income — — — Total comprehensive income (loss) (120 ) 110 (2,055 ) Equity share in net income (loss) of VTI, Bow Arken and Brightshare (60 ) 55 (1,027 ) |
Beacon Electric Asset Holdings, Inc. [Member] | |
Investment In Associates And Joint Ventures [Line Items] | |
Summary of investment | Date Transaction Number of Shares Total Consideration (Php) (in millions) (in millions) March 30, 2010 PCEV subscription to Beacon Common Shares ( 1) 1,157 Beacon Common Shares 23,130 October 25, 2011 PCEV transfer of remaining Meralco Common Shares to Beacon ( 2) 69 Meralco Common Shares 15,136 PCEV subscription to Beacon Preferred Shares 1,199 Beacon Class “A” Preferred Shares 15,136 January 20, 2012 PCEV subscription to Beacon Common Shares 135 Beacon Common Shares 2,700 May 30, 2016 PCEV subscription to Beacon Class “B” Preferred Shares 277 Beacon Class “B” Preferred Shares 3,500 September 9, 2016 Beacon redemption of Class “B” Preferred Shares held by PCEV 198 Beacon Class “B” Preferred Shares 2,500 April 20, 2017 Beacon redemption of Class “B” Preferred Shares held by PCEV 79 Beacon Class “B” Preferred Shares 1,000 (1) (2) |
Summary of Sale of Beacon's Meralco Shares to MPIC | Sale of Beacon’s Meralco Shares to MPIC Beacon has entered into the following Share Purchase Agreements with MPIC: Date Number of Shares Sold % of Meralco Shareholdings Sold Price Per Share (Php) Total Price (Php) Deferred Gain Realized ( 1) (Php) (in millions) (in million pesos) June 24, 2014 56.35 5 % 235.00 13,243 1,418 April 14, 2015 112.71 10 % 235.00 26,487 2,838 (1) |
VIH [Member] | |
Investment In Associates And Joint Ventures [Line Items] | |
Summarized Financial Information of Associates | The summarized financial information of VIH as at and for the year ended December 31, 2018 is shown below: 2018 (in million pesos) Statement of Financial Position: Noncurrent assets 1,318 Current assets 11,152 Noncurrent liabilities 42 Current liabilities 2,926 Equity 9,502 Income Statement: Revenues 136 Depreciation and amortization 19 Interest income 14 Benefit from income tax (1 ) Net loss (535 ) Other comprehensive loss (2 ) Total comprehensive loss (537 ) Equity share in net loss of VIH (262 ) |
Satventures, Inc. [Member] | |
Investment In Associates And Joint Ventures [Line Items] | |
Summarized Financial Information of Associates | The table below presents the summarized financial information of Satventures as at December 31, 2018 and 2017, and for the years ended December 31, 2018, 2017 and 2016: 2018 2017 (in million pesos) Statements of Financial Position: Noncurrent assets 20,712 20,055 Current assets 2,606 2,820 Noncurrent liabilities 3,297 3,292 Current liabilities 5,549 5,253 Equity 14,472 14,330 Carrying amount of interest in Satventures 9,262 9,171 Additional Information: Cash and cash equivalents 611 1,211 Current financial liabilities* 487 397 Noncurrent financial liabilities* 2,239 2,097 * 2018 2017 2016 (in million pesos) Income Statements: Revenues 7,339 6,650 5,925 Depreciation and amortization 936 772 1,217 Interest income 8 3 2 Interest expense 274 249 259 Provision for (benefit from) income tax 112 71 (69 ) Net income (loss) 142 4 (344 ) Other comprehensive income — — — Total comprehensive income (loss) 142 4 (344 ) Equity share in net income (loss) of Satventures 90 3 (220 ) |
AF Payments, Inc. [Member] | |
Investment In Associates And Joint Ventures [Line Items] | |
Summary of investment | Smart made the following investments in AFPI: Date Transaction Number of Shares Subscribed Actual Capital Infusion (Php) (in millions) (in millions) 2014 Smart subscription to AFPI Common Shares 503.2 AFPI Common Shares 300 2015 Smart subscription to AFPI Common Shares 122.5 AFPI Common Shares 160 2016 Capital infusion on unpaid subscription — 130 2017 Smart subscription to AFPI Preferred Shares 100.0 AFPI Preferred Shares 100 2018 Smart subscription to AFPI Preferred Shares 60.0 AFPI Preferred Shares 60 |
Individually immaterial investments in associates [Member] | |
Investment In Associates And Joint Ventures [Line Items] | |
Summarized Financial Information of Associates | The following tables present the summarized financial information of our individually immaterial investments in associates for the years ended December 31, 2018, 2017 and 2016: 2018 2017 2016 (in million pesos) Income Statements: Revenues 104 107 1,960 Net income (loss) (80 ) 59 526 Other comprehensive loss — (1 ) — Total comprehensive income (loss) (80 ) 58 526 |
Financial Assets at FVPL_Avai_2
Financial Assets at FVPL/Available-for-Sale Financial Investments (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Availableforsale Financial Assets [Abstract] | |
Summary of Financial Assets at FVPL/Available-for-Sale Financial Investments | As at December 31, 2018 and 2017, this account consists of: 2018 2017 Financial assets at FVPL Available-for- sale financial investments (in million pesos) Rocket Internet 3,128 12,848 iflix Limited, or iflix 844 1,841 Phunware, Inc., or Phunware 497 — Club shares and others 294 239 Matrixx — 237 4,763 15,165 |
Summary of Details on Investment in Rocket | Further details on investment in Rocket Internet for the years ended December 31, 2018, 2017 and 2016, and as at December 31, 2018 and 2017 are as follows: 2018 2017 2016 Total market value as at beginning of the year (in million pesos) 12,848 10,058 14,587 Closing price per share at end of the year (in Euros) 20.18 21.13 19.13 Total market value as at end of the year (in million Euros) 52 213 193 Total market value as at end of the year (in million pesos) 3,128 12,848 10,058 Total cost of sold shares (in million pesos) 9,563 — — Net gains (losses) recognized during the year (in million pesos) (157 ) 2,790 (4,529 ) Recognized in profit or loss (in million pesos) (157 ) (540 ) (5,381 ) Recognized in other comprehensive loss (in million pesos) — 3,330 852 2018 2017 Financial assets at FVPL Available-for- sale Financial Investments (in million pesos) Balance at beginning of the year 12,848 10,058 Fair value adjustment in profit or loss (157 ) — Disposal of investments (9,563 ) — Impairment loss — (540 ) Fair value adjustment in other comprehensive income — 3,330 Balance at end of the year 3,128 12,848 |
Investment in Debt Securities_2
Investment in Debt Securities and Other Long-term Investments (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Text Block1 [Abstract] | |
Summary of Investment in Debt Securities and Other Long-term Investments | As at December 31, 2018 and 2017, this account consists of: 2018 2017 Debt instruments at amortized cost Investment in debt securities and other long- term investments (in million pesos) GT Capital Bond 150 150 Security Bank Corporation, or Security Bank, Time Deposits — 100 150 250 Less current portion (Note 27) — 100 Noncurrent portion (Note 27) 150 150 |
Investment Properties (Tables)
Investment Properties (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Investment Property [Abstract] | |
Summary of Changes in Investment Properties | Changes in investment properties account for the years ended December 31, 2018 and 2017 are as follows: Land Land Improvements Building Total (in million pesos) December 31, 2018 Balance at beginning of the year 1,322 8 305 1,635 Net gains (losses) from fair value adjustments charged to profit or loss 389 (1 ) (10 ) 378 Transfers to property and equipment (1,115 ) — (121 ) (1,236 ) Balance at end of the year 596 7 174 777 December 31, 2017 Balance at beginning of the year 1,567 8 315 1,890 Net gains (losses) from fair value adjustments charged to profit or loss 4 — (7 ) (3 ) Transfers to property and equipment (10 ) — (3 ) (13 ) Disposals (239 ) — — (239 ) Balance at end of the year 1,322 8 305 1,635 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Intangible Assets [Abstract] | |
Summary of Changes in Goodwill and Intangible Assets | Changes in goodwill and intangible assets account for the years ended December 31, 2018 and 2017 are as follows: Intangible Asset with Intangible Assets with Finite Life Total Intangible Assets Total Goodwill Indefinite Life Trademark Franchise Customer List Spectrum Licenses Others with Finite Life Total Intangible Assets Goodwill and Intangible Assets (in million pesos) December 31, 2018 Costs: Balance at beginning of the year 4,505 3,016 4,726 1,205 1,079 1,562 11,588 16,093 63,058 79,151 Additions — — — — — 21 21 21 — 21 Disposals — — — — — (372 ) (372 ) (372 ) — (372 ) Deconsolidation — — — — — (460 ) (460 ) (460 ) (1,025 ) (1,485 ) Translation and other adjustments — — — — — 24 24 24 — 24 Balance at end of the year 4,505 3,016 4,726 1,205 1,079 775 10,801 15,306 62,033 77,339 Accumulated amortization and impairment: Balance at beginning of the year — 1,147 3,280 1,071 1,044 1,347 7,889 7,889 1,679 9,568 Disposals — — — — — (372 ) (372 ) (372 ) — (372 ) Amortization during the year (Notes 4 and 5) — 187 510 81 7 107 892 892 — 892 Deconsolidation — — — — — (331 ) (331 ) (331 ) (1,025 ) (1,356 ) Translation and other adjustments — — — — — 24 24 24 — 24 Balance at end of the year — 1,334 3,790 1,152 1,051 775 8,102 8,102 654 8,756 Net balance at end of the year 4,505 1,682 936 53 28 — 2,699 7,204 61,379 68,583 Estimated useful lives (in years) — 16 2 – 9 15 18 1 – 10 — — — — Remaining useful lives (in years) — 9 1 – 2 1 4 — — — — — December 31, 2017 Costs: Balance at beginning of the year 4,505 3,016 4,726 1,205 1,079 1,379 11,405 15,910 63,058 78,968 Additions — — — — — 138 138 138 — 138 Translation and other adjustments — — — — — 45 45 45 — 45 Balance at end of the year 4,505 3,016 4,726 1,205 1,079 1,562 11,588 16,093 63,058 79,151 Accumulated amortization and impairment: Balance at beginning of the year — 961 2,769 991 1,037 1,251 7,009 7,009 1,679 8,688 Amortization during the year (Notes 4 and 5) — 186 511 80 7 51 835 835 — 835 Translation and other adjustments — — — — — 45 45 45 — 45 Balance at end of the year — 1,147 3,280 1,071 1,044 1,347 7,889 7,889 1,679 9,568 Net balance at end of the year 4,505 1,869 1,446 134 35 215 3,699 8,204 61,379 69,583 Estimated useful lives (in years) — 16 2 – 9 15 18 1 – 10 — — — — Remaining useful lives (in years) — 10 1 – 3 2 5 5 – 9 — — — — |
Summary of Consolidated Goodwill and Intangible Assets of Reportable Segments | The consolidated goodwill and intangible assets of our reportable segments as at December 31, 2018 and 2017 are as follows: 2018 2017 Wireless Fixed Line Total Wireless Fixed Line Total (in million pesos) Trademark 4,505 — 4,505 4,505 — 4,505 Franchise 1,682 — 1,682 1,869 — 1,869 Customer list 936 — 936 1,446 — 1,446 Spectrum 53 — 53 134 — 134 Licenses 28 — 28 35 — 35 Others — — — 215 — 215 Total intangible assets 7,204 — 7,204 8,204 — 8,204 Goodwill 56,571 4,808 61,379 56,571 4,808 61,379 Total goodwill and intangible assets 63,775 4,808 68,583 64,775 4,808 69,583 |
Summary of Future Amortization of Intangible Assets | The consolidated future amortization of intangible assets as at December 31, 2018 is as follows: Year (in million pesos) 2019 758 2020 619 2021 194 2022 191 2023 and onwards 937 2,699 |
Cash and Cash Equivalents (Tabl
Cash and Cash Equivalents (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Cash And Cash Equivalents [Abstract] | |
Summary of Cash and Cash Equivalents | As at December 31, 2018 and 2017, this account consists of: 2018 2017 (in million pesos) Cash on hand and in banks (Note 27) 5,982 6,351 Temporary cash investments (Note 27) 45,672 26,554 51,654 32,905 |
Trade and Other Receivables (Ta
Trade and Other Receivables (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Financial Assets [Line Items] | |
Summary of Trade and Other Receivables | The gross carrying amount of financial assets not subject to impairment also represents our maximum exposure to credit risk, as follows: 2018 (in million pesos) Financial assets at fair value through profit or loss 4,763 Derivative financial assets - net of current portion 140 Current portion of derivative financial assets 183 Total 5,086 |
Summary of Changes in the Allowance for Expected Credit Losses | The following table explains the changes in the allowance for expected credit losses from January 1 to December 31, 2018: For the year ended December 31, 2018 Retail Subscribers Corporate Subscribers Foreign Administrations Domestic Carriers Dealers, Agents and Others Total Stage 2 Stage 3 Stage 2 Stage 3 Stage 2 Stage 3 Stage 2 Stage 3 Stage 2 Stage 3 Stage 2 Stage 3 Lifetime ECL Lifetime ECL Lifetime ECL Lifetime ECL Lifetime ECL Lifetime ECL Total (in million pesos) Balances as at beginning of the year, as restated 787 7,925 474 3,212 7 925 1 75 147 1,206 1,416 13,343 14,759 Reclassifications and reversals 86 6 (48 ) 201 (46 ) 2 — (3 ) (5 ) (146 ) (13 ) 60 47 Provisions 20 3,109 172 820 44 (13 ) 2 2 9 27 247 3,945 4,192 Business combination/dissolution — — — — — — — — (57 ) — (57 ) — (57 ) Write-offs — (2,109 ) — (328 ) — — — — (3 ) (4 ) (3 ) (2,441 ) (2,444 ) Translation adjustments — — 5 1 — — — — — — 5 1 6 Balance at end of the year 893 8,931 603 3,906 5 914 3 74 91 1,083 1,595 14,908 16,503 |
Summary of Changes in Allowance for Doubtful Accounts | Changes in the allowance for doubtful accounts for the year ended December 31, 2017 are as follows: Total Retail Subscribers Corporate Subscribers Foreign Administrations Domestic Carriers Dealers, Agents and Others (in million pesos) December 31, 2017 Balance at beginning of the year 18,788 12,588 3,827 628 134 1,611 Provisions (reversals) and other adjustments (1,029 ) (1,166 ) 15 310 (59 ) (129 ) Write-offs (3,258 ) (2,644 ) (538 ) — — (76 ) Balance at end of the year 14,501 8,778 3,304 938 75 1,406 Individual impairment 10,160 5,747 3,177 104 51 1,081 Collective impairment 4,341 3,031 127 834 24 325 14,501 8,778 3,304 938 75 1,406 Gross amount of receivables individually impaired, before deducting any impairment allowance 10,160 5,747 3,177 104 51 1,081 |
Trade receivables [Member] | |
Disclosure Of Financial Assets [Line Items] | |
Summary of Trade and Other Receivables | As at December 31, 2018 and 2017, this account consists of receivables from: 2018 2017 (in million pesos) Retail subscribers (Note 27) 19,444 17,961 Corporate subscribers (Note 27) 11,073 9,641 Foreign administrations (Note 27) 4,225 6,517 Domestic carriers (Note 27) 270 457 Dealers, agents and others (Note 27) 5,547 13,686 40,559 48,262 Less allowance for expected credit losses/doubtful accounts (Notes 5 and 27) 16,503 14,501 24,056 33,761 |
Inventories and Supplies (Table
Inventories and Supplies (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Text Block1 [Abstract] | |
Summary of Inventories and Supplies | As at December 31, 2018 and 2017, this account consists of: 2018 2017 (in million pesos) Terminal and cellular phone units: At net realizable value (1) 2,093 2,691 At cost 3,423 3,834 Spare parts and supplies: At net realizable value (1) 173 664 At cost 1,673 1,428 Others: At net realizable value (1) 612 578 At cost 994 1,163 Total inventories and supplies at the lower of cost or net realizable value 2,878 3,933 (1) Amounts are net of allowance for inventory obsolescence and write-downs. |
Summary of Cost of Inventories and Supplies Recognized as Expense | The cost of inventories and supplies recognized as expense for the years ended December 31, 2018, 2017 and 2016 are as follows: 2018 2017 2016 (in million pesos) Cost of sales and services 10,632 10,951 15,965 Provisions (Note 5) 1,528 907 1,941 Repairs and maintenance 692 721 596 12,852 12,579 18,502 |
Summary of Changes in Allowance for Inventory Obsolescence and Write-down | Changes in the allowance for inventory obsolescence and write-down for the years ended December 31, 2018 and 2017 are as follows: 2018 2017 (in million pesos) Balance at beginning of the year 2,492 2,617 Provisions (Note 5) 1,528 907 Write-off and others (808 ) (1,032 ) Balance at end of the year 3,212 2,492 |
Prepayments (Tables)
Prepayments (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Text Block1 [Abstract] | |
Summary of Prepayments | As at December 31, 2018 and 2017, this account consists of: 2018 2017 (in million pesos) Prepaid taxes 11,466 10,451 Prepaid fees and licenses 915 848 Prepaid rent 672 2,126 Prepaid benefit costs (Note 25) 393 400 Prepaid repairs and maintenance 204 207 Prepaid insurance (Note 24) 63 105 Prepaid selling and promotions (Note 24) 6 289 Other prepayments (Note 24) 296 577 14,015 15,003 Less current portion of prepayments 7,760 9,633 Noncurrent portion of prepayments 6,255 5,370 |
Equity (Tables)
Equity (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Equity [Abstract] | |
Summary of Number of Shares of Subscribed and Outstanding Capital Stock | PLDT’s number of shares of subscribed and outstanding capital stock as at December 31, 2018 and 2017 are as follows: 2018 2017 (in million pesos) Authorized Non-Voting Serial Preferred Stock 388 388 Voting Preferred Stock 150 150 Common Stock 234 234 Subscribed Non-Voting Serial Preferred Stock (1) 300 300 Voting Preferred Stock 150 150 Common Stock 219 219 Outstanding Non-Voting Serial Preferred Stock (1) 300 300 Voting Preferred Stock 150 150 Common Stock 216 216 Treasury Stock Common Stock 3 3 (1) Includes 300 million shares of Series IV Cumulative Non-Convertible Redeemable Preferred Stock subscribed for Php3 billion, of which Php360 million has been paid. |
Summary of Dividends Declared | Our dividends declared for the years ended December 31, 2018, 2017 and 2016 are detailed as follows: December 31, 2018 Date Amount Class Approved Record Payable Per Share Total (in million pesos, except per share amounts) Cumulative Convertible Preferred Stock Series JJ June 13, 2018 June 28, 2018 June 29, 2018 1.00 — Cumulative Non-Convertible Redeemable Preferred Stock Series IV* January 22, 2018 February 21, 2018 March 15, 2018 — 12 May 10, 2018 May 25, 2018 June 15, 2018 — 12 August 9, 2018 August 28, 2018 September 15, 2018 — 13 November 8, 2018 November 23, 2018 December 15, 2018 — 12 49 Voting Preferred Stock March 8, 2018 March 28, 2018 April 15, 2018 — 3 June 13, 2018 June 29, 2018 July 15, 2018 — 2 September 25, 2018 October 9, 2018 October 15, 2018 — 2 December 4, 2018 December 19, 2018 January 15, 2019 — 3 10 Common Stock Regular Dividend March 27, 2018 April 13, 2018 April 27, 2018 28.00 6,050 August 9, 2018 August 28, 2018 September 11, 2018 36.00 7,778 13,828 Charged to retained earnings 13,887 * December 31, 2017 Date Amount Class Approved Record Payable Per Share Total (in million pesos, except per share amounts) Cumulative Convertible Preferred Stock Series JJ May 12, 2017 June 1, 2017 June 30, 2017 1.00 — Cumulative Non-Convertible Redeemable Preferred Stock Series IV* February 7, 2017 February 24, 2017 March 15, 2017 — 12 May 12, 2017 May 26, 2017 June 15, 2017 — 12 August 10, 2017 August 25, 2017 September 15, 2017 — 13 November 9, 2017 November 28, 2017 December 15, 2017 — 12 49 Voting Preferred Stock March 7, 2017 March 30, 2017 April 15, 2017 — 3 June 13, 2017 June 27, 2017 July 15, 2017 — 2 September 26, 2017 October 10, 2017 October 15, 2017 — 2 December 5, 2017 December 20, 2017 January 15, 2018 — 3 10 Common Stock Regular Dividend March 7, 2017 March 21, 2017 April 6, 2017 28.00 6,049 August 10, 2017 August 25, 2017 September 8, 2017 48.00 10,371 16,420 Charged to retained earnings 16,479 * December 31, 2016 Date Amount Class Approved Record Payable Per Share Total (in million pesos, except per share amounts) Cumulative Convertible Preferred Stock Series II (Final Dividends) April 12, 2016 February 10, 2016 May 11, 2016 0.0027/day — Series JJ May 3, 2016 June 2, 2016 June 30, 2016 1.00 — — Cumulative Non-Convertible Redeemable Preferred Stock Series IV* January 26, 2016 February 24, 2016 March 15, 2016 — 12 May 3, 2016 May 24, 2016 June 15, 2016 — 12 August 2, 2016 August 18, 2016 September 15, 2016 — 12 November 14, 2016 November 28, 2016 December 15, 2016 — 12 48 Voting Preferred Stock February 29, 2016 March 30, 2016 April 15, 2016 — 3 June 14, 2016 June 30, 2016 July 15, 2016 — 3 August 30, 2016 September 20, 2016 October 15, 2016 — 2 December 6, 2016 December 20, 2016 January 15, 2017 — 3 11 Common Stock Regular Dividend February 29, 2016 March 14, 2016 April 1, 2016 57.00 12,315 August 2, 2016 August 16, 2016 September 1, 2016 49.00 10,587 22,902 Charged to retained earnings 22,961 * Our dividends declared after December 31, 2018 are detailed as follows: Date Amount Class Approved Record Payable Per Share Total (in million pesos, except per share amounts) Cumulative Non-Convertible Redeemable Preferred Stock Series IV* January 29, 2019 February 22, 2019 March 15, 2019 — 12 Voting Preferred Stock March 7, 2019 March 27, 2019 April 15, 2019 — 3 Common Stock Regular Dividend March 21, 2019 April 4, 2019 April 23, 2019 36.00 7,778 Charged to retained earnings 7,793 * |
Summary of Reconciliation of Consolidated Retained Earnings Available for Dividend Declaration | The following table shows the reconciliation of our consolidated retained earnings available for dividend declaration as at December 31, 2018: (in million pesos) Consolidated unappropriated retained earnings as at December 31, 2017 1,157 Effect of IAS 27 adjustments 33,995 Parent Company’s unappropriated retained earnings at beginning of the year 35,152 Effect of adoption of IFRS 9 and IFRS 15 129 Parent Company’s unappropriated retained earnings at beginning of the year, as restated 35,281 Less: Cumulative unrealized income – net of tax: Unrealized foreign exchange gains – net (except those attributable to cash and cash equivalents) (523 ) Fair value adjustments of investment property resulting to gain (778 ) Fair value adjustments (mark-to-market gains) (3,182 ) Parent Company’s unappropriated retained earnings available for dividends as at January 1, 2018 30,798 Parent Company’s net income for the year 11,159 Less: Fair value adjustment of investment property resulting to gain (110 ) Fair value adjustments (mark-to-market gains) (258 ) 10,791 Less: Cash dividends declared during the year Preferred stock (59 ) Common stock (13,828 ) (13,887 ) Parent Company’s unappropriated retained earnings available for dividends as at December 31, 2018 27,702 |
Interest-bearing Financial Li_2
Interest-bearing Financial Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Detailed Information About Borrowings [Abstract] | |
Summary of Interest-bearing Financial Liabilities | As at December 31, 2018 and 2017, this account consists of the following: 2018 2017 (in million pesos) Long-term portion of interest-bearing financial liabilities: Long-term debt (Notes 9 and 27) 155,835 157,654 Current portion of interest-bearing financial liabilities: Long-term debt maturing within one year (Notes 9 and 27) 20,441 14,957 |
Summary of Changes to Unamortized Debt Discount | The following table describes all changes to unamortized debt discount for the years ended December 31, 2018 and 2017: 2018 2017 (in million pesos) Unamortized debt discount at beginning of the year 525 631 Additions during the year 38 113 Accretion during the year included as part of Financing costs (Note 5) (145 ) (219 ) Unamortized debt discount at end of the year 418 525 |
Summary of Long-term Debt | As at December 31, 2018 and 2017, long-term debt consists of: 2018 2017 Description Interest Rates U.S. Dollar Php U.S. Dollar Php (in millions) U.S. Dollar Debts: Export Credit Agencies-Supported Loans: Exportkreditnamnden, or EKN 1.4100% in 2018 and 1.4100% to 1.9000% and US$LIBOR + 0.3000% in 2017 2 103 11 547 Fixed Rate Notes 8.3500% in 2017 — — — — Term Loans: GSM Network Expansion Facilities US$LIBOR + 1.1125% in 2017 — — — — Others 2.8850% and US$ LIBOR + 0.7900% to 1.6000% in 2018 and 2017 442 23,249 690 34,485 444 23,352 701 35,032 Philippine Peso Debts: Fixed Rate Corporate Notes 5.3938% to 5.9058% in 2018 and 5.3300% to 6.2600% in 2017 15,511 15,675 Fixed Rate Retail Bonds 5.2250% to 5.2813% in 2018 and 2017 14,943 14,922 Term Loans: Unsecured Term Loans 3.9000% to 6.7339%; PDST- R2/ (1) to 1.0000% in 2018 and 3.9000% to 6.4044%; BSP overnight rate and PDST-R2 + 1.0000% in 2017 122,470 106,982 152,924 137,579 Total long-term debt (Notes 27 and 28) 176,276 172,611 Less portion maturing within one year (Note 27) 20,441 14,957 Noncurrent portion of long-term debt (Note 27) 155,835 157,654 |
Summary of Scheduled Maturities of Consolidated Outstanding Long-term Debt at Nominal Values | The scheduled maturities of our consolidated outstanding long-term debt at nominal values as at December 31, 2018 are as follows: U.S. Dollar Debt Php Debt Total Year U.S. Dollar Php Php Php (in millions) 2019 110 5,779 14,776 20,555 2020 210 11,057 8,943 20,000 2021 46 2,386 20,098 22,484 2022 30 1,597 14,392 15,989 2023 25 1,314 24,098 25,412 2024 and onwards 25 1,314 70,940 72,254 (Note 27) 446 23,447 153,247 176,694 |
Summary of Obtained Loans Extended And/Or Guaranteed by Export Credit Agencies | In order to acquire imported components for our network infrastructure in connection with our expansion and service improvement programs, we obtained loans extended and/or guaranteed by various export credit agencies as at December 31, 2018 and 2017: Cancelled Drawn Undrawn Outstanding Amounts Date of Terms Amount Amount 2018 2017 Loan Amount Loan Agreement Lender(s) Installments Final Installment Dates Drawn U.S. Dollar Paid in full on U.S. Dollar Php U.S. Dollar Php (in millions) (in millions) U.S. Dollar Debts EKN, the Export-Credit Agency of Sweden DMPI US$59.2M (1) December 17, 2007 ING Bank N.V., or ING Bank, Societe Generale and Calyon 18 equal semi-annual March 31, 2017 Various dates in 2008-2009 59.1 0.1 March 31, 2017 — — — — DMPI US$51.2M (2) December 17, 2007 ING Bank, Societe Generale and Calyon 18 equal semi-annual June 30, 2017 Various dates in 2008-2009 51.1 0.1 March 31, 2017 — — — — Smart US$49M (3) Tranche A1: US$24M; Tranche A2: US$24M; Tranche B: US$1M June 10, 2011 Nordea Bank AB (publ), or Nordea Bank, subsequently assigned to SEK on June 10, 2011 10 equal semi-annual Tranche A1 and B: December 29, 2016; Tranche A2: October 30, 2017 Various dates in 2012 and February 21, 2013 49.0 — April 28, 2017 — — — — Smart US$45.6M (3) Tranche A1: US$25M; Tranche A2: US$19M; Tranche B1: US$0.9M; Tranche B2: US$0.7M February 22, 2013 Nordea Bank, subsequently assigned to SEK on July 3, 2013 10 equal semi-annual, commencing 6 months after the applicable mean delivery date Tranche A1 and B1: July 16, 2018; Tranche A2 and B2: April 15, 2019 Various dates in 2013-2014 45.6 — — 2 (*) 103 (*) 11 (*) 547 (*) 2 103 11 547 (*) (1) The purpose of this loan is to finance the equipment and service contracts for the Phase 7 North Luzon Expansion and Change-out Project. (2) The purpose of this loan is to finance the equipment and service contracts for the Phase 7 Expansion Project in Visayas and Mindanao. (3) The purpose of this loan is to finance the supply and services contracts for the modernization and expansion project. Outstanding Amounts Terms Repurchase 2018 2017 Loan Amount Issuance Date Trustee Installments Maturity Date Amount U.S. Dollar Paid in full on U.S. Dollar Php U.S. Dollar Php (in millions) (in millions) Fixed Rate Notes PLDT US$300M (1) March 6, 1997 Deutsche Bank Trust Company Americas Non- amortizing March 6, 2017 Various dates in 2008-2014 71.6 March 6, 2017 – – – – (1) Cancelled Date of Terms Drawn Undrawn Loan Final Amount Amount Paid in Outstanding Amounts Loan Amount Agreement Lender(s) Installments Installment Dates Drawn U.S. Dollar full on U.S. Dollar Php U.S. Dollar Php (in millions) (in millions) Term Loans GSM Network Expansion Facilities Smart US$50M (1) May 29, 2012 MUFG Bank, Ltd., formerly The Bank of Tokyo Mitsubishi UFJ, Ltd. 9 equal semi-annual, commencing on May 29, 2013 May 29, 2017 Various dates in 2012 50 – May 29, 2017 – – – – ( 1) The purpose of this loan is to finance the equipment and service contracts for the modernization and expansion project. Cancelled Drawn Undrawn Outstanding Amounts Date of Loan Amount Amount Paid in 2018 2017 Loan Amount Agreement Lender(s) Terms Dates Drawn U.S. Dollar full on U.S. Dollar Php U.S. Dollar Php (in millions) (in millions) Other Term Loans (1) PLDT US$150M March 7, 2012 Syndicate of Banks with MUFG Bank, Ltd. as Facility Agent 9 equal semi-annual installment, commencing on the date which falls 12 months after the date of the loan agreement, with final installment on March 7, 2017 Various dates in 2012 150 — March 7, 2017 — — — — PLDT US$300M January 16, 2013 Syndicate of Banks with MUFG Bank, Ltd. as Facility Agent 9 equal semi-annual installment, commencing on the date which falls 12months after the date of the loan agreement, with final installment on January 16, 2018 Various dates in 2013 300 — January 16, 2018 — — 33 1,665 Smart US$35M January 28, 2013 China Banking Corporation, or CBC 10 equal semi-annual installment, with final installment on January 29, 2018 May 7, 2013 35 — January 30, 2017 — — — — Smart US$50M March 25, 2013 FEC 9 equal semi-annual installment, commencing six months after drawdown date, with final installment on March 23, 2018 Various dates in 2013 and 2014 32 18 March 23, 2018 — — 3 (*) 178 (*) Smart US$80M May 31, 2013 CBC 10 equal semi-annual installment, commencing six months after drawdown date, with final installment on May 31, 2018 September 25, 2013 80 — May 31, 2018 — — 8 400 Smart US$120M June 20, 2013 Mizuho Bank Ltd. and Sumitomo Mitsui Banking Corporation, or Sumitomo, with Sumitomo as Facility Agent 8 equal semi-annual installment, commencing six months after drawdown date, with final installment on June 20, 2018 September 25, 2013 120 — June 20, 2018 — — 15 (*) 747 (*) Smart US$100M March 7, 2014 MUFG Bank, Ltd. 9 equal semi-annual installment, commencing 12 months after drawdown date, with final installment on March 7, 2019 Various dates in 2014 March 2, 2015 90 10 — — 11 (*) 583 (*) 33 (*) 1,658 (*) 11 583 92 4,648 (*) (1) Cancelled Date of Drawn Undrawn Outstanding Amounts Loan Dates Amount Amount Paid in 2018 2017 Loan Amount Agreement Lender(s) Terms Drawn U.S. Dollar full on U.S. Dollar Php U.S. Dollar Php (in millions) (in millions) Smart US$50M May 14, 2014 Mizuho Bank Ltd. 9 equal semi-annual installment, commencing 11 months after drawdown date, with final installment on May 14, 2019 July 1, 2014 50 — — 6 (*) 291 (*) 17 (*) 828 (*) PLDT US$100M August 5, 2014 Philippine National Bank, or PNB Annual amortization rate of 1% of the issue price on the first year up to the fifth year from the initial drawdown date, with final installment on August 11, 2020 Various dates in 2014 100 — — 96 5,046 97 4,846 PLDT US$50M August 29, 2014 Metrobank Semi-annual amortization rate of 1% of the issue price on the first year up to the fifth year from the initial drawdown date and the balance payable upon maturity on September 2, 2020 September 2, 2014 50 — — 48 2,536 49 2,435 PLDT US$200M Tranche A: US$150M; Tranche B: US$50M February 26, 2015 MUFG Bank, Ltd. Commencing 36 months after loan date, with semi-annual amortization of 23.75% of the loan amount on the first and second repayment dates and seven semi- annual amortizations of 7.5% starting on the third repayment date, with final installment on February 25, 2022 Various dates in 2015 200 — — 104 (*) 5,492 (*) 199 (*) 9,945 (*) Smart US$200M March 4, 2015 Mizuho Bank Ltd. 9 equal semi-annual installments commencing on the date which falls 12 months after the loan date, with final installment on March 4, 2020 Various dates in 2015 200 — — 66 (*) 3,490 (*) 110 (*) 5,511 (*) Smart US$100M December 7, 2015 Mizuho Bank Ltd. 13 equal semi-annual installments commencing on the date which falls 12 months after the loan date, with final installment on December 7, 2022 Various dates in 2016 100 — — 61 (*) 3,198 (*) 76 (*) 3,791 (*) PLDT US$25M March 22, 2016 NTT Finance Corporation Non-amortizing, payable upon maturity on March 30, 2023 March 30, 2016 25 — — 25 (*) 1,307 (*) 25 (*) 1,241 (*) PLDT US$25M January 31, 2017 NTT Finance Corporation Non-amortizing, payable upon maturity on March 27, 2024 March 30, 2017 25 — — 25 (*) 1,306 (*) 25 (*) 1,240 (*) 431 22,666 598 29,837 442 23,249 690 34,485 (*) Prepayments Outstanding Amounts Date of Loan Date of Issuance/ Amount 2018 2017 Loan Amount Agreement Facility Agent Installments Drawdown Php Date U.S. Dollar Php (in millions) (in millions) Philippine Peso Debts Fixed Rate Corporate Notes (1) Smart Php5,500M Series A: Php1,910M; March 15, 2012 Metrobank Series A: 1% annual amortization starting March 19, 2013, with the balance of 96% payable on March 20, 2017; Drawn and issued on March 19, 2012 1,376 2,803 July 19, 2013 June 19, 2017 — — Series B: Php3,590M Series B: 1% annual amortization starting March 19, 2013 with the balance of 91% payable on March 19, 2022 PLDT Php1,500M July 25, 2012 Metrobank Annual amortization rate of 1% of the issue price on the first year up to the sixth year from issue date and the balance payable upon maturity on July 27, 2019 July 27, 2012 1,188 July 29, 2013 282 285 PLDT Php8,800M Series A: Php4,610M; September 19, 2012 Metrobank Series A: 1% annual amortization on the first up to sixth year, with the balance payable on September 21, 2019; September 21, 2012 2,055 June 21, 2013 6,340 6,408 Series B: Php4,190M Series B: 1% annual amortization on the first up to ninth year, with the balance payable on September 21, 2022 PLDT Php6,200M Series A: 7-year notes Php3,775M; November 20, 2012 BDO Unibank, Inc., or BDO Series A: Annual amortization rate of 1% of the issue price on the first year up to the sixth year from issue date and the balance payable upon maturity on November 22, 2019; November 22, 2012 3,549 February 22, 2019 5,828 5,890 Series B: 10-year notes Php2,425M Series B: Annual amortization rate of 1% of the issue price on the first year up to the ninth year from issue date and the balance payable upon maturity on November 22, 2022 Smart Php1,376M Series A: Php742M; June 14, 2013 Metrobank Series A: Annual amortization equivalent to 1% of the principal amount starting June 19, 2014 with the balance of 97% payable on March 20, 2017; June 19, 2013 608 June 19, 2017 — — Series B: Php634M Series B: Annual amortization equivalent to 1% of the principal amount starting June 19, 2014 with the balance of 92% payable on March 21, 2022 PLDT Php2,055M Series A: Php1,735M; June 14, 2013 Metrobank Series A: Annual amortization rate of 1% of the issue price up to the fifth year and the balance payable upon maturity on September 21, 2019; June 21, 2013 — — 1,932 1,952 Series B: Php320M Series B: Annual amortization rate of 1% of the issue price up to the eighth year and the balance payable upon maturity on September 21, 2022 PLDT Php1,188M July 19, 2013 Metrobank Annual amortization rate of 1% of the issue on the first year up to the fifth year from the issue date and the balance payable upon maturity on July 27, 2019 July 29, 2013 — — 1,129 1,140 15,511 15,675 (1) Prepayments Outstanding Amounts Date of Loan Date of Issuance/ Amount 2018 2017 Loan Amount Agreement Paying Agent Terms Drawdown Php Date Php Php (in millions) (in millions) Fixed Rate Retail Bonds (1) PLDT Php15,000M January 22, 2014 Philippine Depositary Trust Corp. Php12.4B – non- amortizing, payable in full upon maturity on February 6, 2021; Php2.6B – non- amortizing payable in full on February 6, 2024 February 6, 2014 — — 14,943 (*) 14,922 (*) (*) Amounts are net of unamortized debt discount and/or debt issuance cost. (1) This fixed rate retail corporate bond is comprised of Php12.4 billion and Php2.6 billion due in 2021 and 2024 with a coupon rate of 5.2250% and 5.2813%, respectively. The purpose of this loan is to finance capital expenditures and/or refinance existing loan obligations which were utilized for network expansion and improvement programs. Cancelled Drawn Undrawn Outstanding Amounts Date of Loan Amount Amount Paid in 2018 2017 Loan Amount Agreement Lender(s) Terms Dates Drawn Php Php full on Php Php (in millions) (in millions) Term Loans Unsecured Term Loans (1) PLDT Php2,000M March 20, 2012 RCBC Annual amortization rate of 1% on the fifth year up to the ninth year from the initial drawdown date and the balance payable upon maturity on April 12, 2022 April 12, 2012 2,000 — — 1,960 1,980 PLDT Php3,000M April 27, 2012 Land Bank of the Philippines, or LBP Annual amortization rate of 1% on the first year up to the fourth year from drawdown date and the balance payable upon maturity on July 18, 2017 July 18, 2012 3,000 — January 18, 2017 — — PLDT Php2,000M May 29, 2012 LBP Annual amortization rate of 1% on the first year up to the fourth year from drawdown date and the balance payable upon maturity on June 27, 2017 June 27, 2012 2,000 — June 27, 2017 — — Smart Php1,000M June 7, 2012 LBP Annual amortization rate of 1% of the principal amount commencing on the first year of the initial drawdown up to the fourth year and the balance payable upon maturity on August 22, 2017 August 22, 2012 1,000 — February 22, 2017 — — PLDT Php200M August 31, 2012 Manufacturers Life Insurance Co. (Phils.), Inc. Payable in full upon maturity on October 9, 2019 October 9, 2012 200 — — 200 200 PLDT Php1,000M September 3, 2012 Union Bank of the Philippines, or Union Bank Annual amortization rate of 1% on the first year up to the sixth year from the initial drawdown date and the balance payable upon maturity on January 13, 2020 January 11, 2013 1,000 — — 950 960 PLDT Php1,000M October 11, 2012 Philippine American Life and General Insurance Company, or Philam Life Payable in full upon maturity on December 5, 2022 December 3, 2012 1,000 — — 1,000 1,000 Smart Php3,000M December 17, 2012 LBP Annual amortization rate of 1% of the principal amount on the first year up to the sixth year commencing on the first year anniversary of the initial drawdown and the balance payable upon maturity on December 20, 2019 Various dates in 2012-2013 3,000 — — 2,820 2,850 PLDT Php2,000M November 13, 2013 Bank of the Philippine Islands, or BPI Annual amortization rate of 1% on the first year up to the sixth year from the initial drawdown and the balance payable upon maturity on November 22, 2020 Various dates in 2013-2014 2,000 — — 1,900 1,920 8,830 8,910 ( 1) The purpose of this loan is to finance the capital expenditures and/or refinance existing loan obligations, which were utilized for service improvements and expansion programs. Cancelled Drawn Undrawn Outstanding Amounts Date of Loan Amount Amount Paid in 2018 2017 Loan Amount Agreement Lender(s) Terms Dates Drawn Php Php full on Php Php (in millions) (in millions) Smart Php3,000M November 25, 2013 Metrobank Annual amortization rate of 10% of the total amount drawn for six years and the final installment is payable upon maturity on November 27, 2020 November 29, 2013 3,000 — — 1,497 (*) 1,795 (*) Smart Php3,000M December 3, 2013 BPI Annual amortization rate of 1% of the total amount drawn for the first six years and the final installment is payable upon maturity on December 10, 2020 December 10, 2013 3,000 — — 2,846 (*) 2,874 (*) Smart Php3,000M January 29, 2014 LBP Annual amortization rate of 1% of the principal amount on the first year up to the sixth year commencing on the first year anniversary of the initial drawdown and the balance payable upon maturity on February 5, 2021 February 5, 2014 3,000 — — 2,875 (*) 2,903 (*) Smart Php500M February 3, 2014 LBP Annual amortization rate of 1% of the principal amount on the first year up to the sixth year commencing on the first year anniversary of the initial drawdown and the balance payable upon maturity on February 5, 2021 February 7, 2014 500 — — 480 485 Smart Php2,000M March 26, 2014 Union Bank Annual amortization rate of 1% of the principal amount on the first year up to the sixth year commencing on the first year anniversary of the initial drawdown and the balance payable upon maturity on March 29, 2021 March 28, 2014 2,000 — — 1,920 1,940 PLDT Php1,500M April 2, 2014 Philam Life Payable in full upon maturity on April 4, 2024 April 4, 2014 1,500 — — 1,500 1,500 Smart Php500M April 2, 2014 BDO Annual amortization rate of 1% of the principal amount on the first year up to the sixth year commencing on the first year anniversary of the initial drawdown and the balance payable upon maturity on April 2, 2021 April 4, 2014 500 — — 480 485 PLDT Php1,000M May 23, 2014 Philam Life Payable in full upon maturity on May 28, 2024 May 28, 2014 1,000 — — 1,000 1,000 PLDT Php1,000M June 9, 2014 LBP Annual amortization rate of 1% on the first year up to the ninth year from initial drawdown date and the balance payable upon maturity on June 13, 2024 June 13, 2014 1,000 — — 960 970 PLDT Php1,500M July 28, 2014 Union Bank Annual amortization rate of 1% on the first year up to the ninth year from initial drawdown date and the balance payable upon maturity on July 31, 2024 July 31, 2014 1,500 — — 1,440 1,455 PLDT Php2,000M February 25, 2015 BPI Annual amortization rate of 1% on the first year up to the ninth year from initial drawdown date and the balance payable upon maturity on March 24, 2025 March 24, 2015 2,000 — — 1,940 1,960 PLDT Php3,000M June 26, 2015 BPI Annual amortization rate of 1% on the first year up to the ninth year from initial drawdown date and the balance payable upon maturity on June 30, 2025 June 30, 2015 3,000 — — 2,910 2,940 PLDT Php5,000M August 3, 2015 Metrobank Annual amortization rate of 1% on the first year up to the ninth year from initial drawdown date and the balance payable upon maturity on September 23, 2025 Various dates in 2015 5,000 — — 4,850 4,900 24,698 25,207 (*) Amounts are net of unamortized debt discount and/or debt issuance cost. Cancelled Drawn Undrawn Outstanding Amounts Date of Loan Amount Amount Paid in 2018 2017 Loan Amount Agreement Lender(s) Terms Dates Drawn Php Php full on Php Php (in millions) (in millions) Smart Php5,000M August 11, 2015 Metrobank Annual amortization rate of 1% of the principal amount on the first year up to the ninth year commencing on the first year anniversary of the initial drawdown date and the balance payable upon maturity on September 1, 2025 September 1, 2015 5,000 — — 4,833 (*) 4,880 (*) Smart Php5,000M December 11, 2015 BPI Annual amortization rate of 1% of the principal amount on the first year up to the ninth year commencing on the first year anniversary of the initial drawdown date and the balance payable upon maturity on December 21, 2025 December 21, 2015 5,000 — — 4,832 (*) 4,880 (*) Smart Php5,000M December 16, 2015 Metrobank Annual amortization rate of 1% of the principal amount up to the tenth year commencing on the first year anniversary of the initial drawdown and the balance payable upon maturity on June 29, 2026 December 28, 2015 5,000 — — 4,831 (*) 4,879 (*) Smart Php7,000M December 18, 2015 CBC Annual amortization rate of 1% of the principal amount on the third year up to the sixth year from the initial drawdown date, with balance payable upon maturity on December 28, 2022 December 28, 2015 and February 24, 2016 7,000 — — 6,289 (*) 6,983 (*) PLDT Php3,000M July 1, 2016 Metrobank Annual amortization rate of 1% on the first year up to the ninth year from initial drawdown date and the balance payable upon maturity on February 22, 2027 February 20, 2017 3,000 — — 2,957 (*) 2,986 (*) PLDT Php6,000M July 1, 2016 Metrobank Annual amortization rate of 1% on the first year up to the sixth year from initial drawdown date and the balance payable upon maturity on August 30, 2023 August 30, 2016 and November 10, 2016 6,000 — — 5,859 (*) 5,915 (*) PLDT Php8,000M July 14, 2016 Security Bank Semi-annual amortization rate of 1% of the total amount drawn starting from the end of the first year after the initial drawdown date until the ninth year and the balance payable on maturity on March 1, 2027 February 27, 2017 8,000 — — 7,807 (*) 7,963 (*) PLDT Php6,500M September 20, 2016 BPI Annual amortization rate of 1% on the first year up to the sixth year from initial drawdown date and the balance payable upon maturity on November 2, 2023 November 2, 2016 and December 19, 2016 6,500 — — 6,346 (*) 6,407 (*) Smart Php3,000M September 28, 2016 BDO Annual amortization rate of 1% of the principal amount on the first year up to the ninth year commencing on the first year anniversary of the initial drawdown date and the balance payable upon maturity on October 5, 2026 October 5, 2016 3,000 — — 2,940 2,970 Smart Php5,400M September 28, 2016 Union Bank Annual amortization rate of 1% of the principal amount on the first year up to the sixth year commencing on the first year anniversary of the initial drawdown date and the balance payable upon maturity on October 24, 2023 October 24, 2016 and November 21, 2016 5,400 — — 5,281 (*) 5,333 (*) PLDT Php5,300M October 14, 2016 BPI Annual amortization rate of 1% on the first year up to the sixth year from initial drawdown date and the balance payable upon maturity on December 19, 2023 December 19, 2016 5,300 — — 5,175 (*) 5,224 (*) Smart Php2,500M October 27, 2016 CBC Annual amortization rate of 10% of the amount drawn starting on the third year up to the sixth year, with balance payable upon maturity on December 8, 2023 December 8, 2016 2,500 — — 2,500 2,500 59,650 60,920 (*) Amounts are net of unamortized debt discount and/or debt issuance cost. Cancelled Drawn Undrawn Outstanding Amounts Date of Loan Amount Amount Paid in 2018 2017 Loan Amount Agreement Lender(s) Terms Dates Drawn Php Php full on Php Php (in millions) (in millions) Smart Php4,000M (1) October 28, 2016 Security Bank Semi-annual amortization rate of 1% of the total amount drawn from first year up to the ninth year and the balance payable upon maturity on April 5, 2027 April 5, 2017 4,000 — — 1,953 (*) 1,971 (*) Smart Php1,000M December 16, 2016 PNB Annual amortization rate of 1% of the amount drawn starting on the first anniversary of the advance up to the ninth anniversary of the advance and the balance payable upon maturity on December 7, 2027 December 7, 2017 1,000 — — 990 1,000 Smart Php2,000M December 22, 2016 LBP Annual amortization rate of 1% of the amount drawn starting on the first anniversary of the advance up to the ninth anniversary of the advance and the balance payable upon maturity on January 21, 2028 January 22, 2018 2,000 — — 2,000 — PLDT Php3,500M December 23, 2016 LBP Annual amortization rate of 1% on the first year up to the ninth year after the drawdown date and the balance payable upon maturity on April 5, 2027 April 5, 2017 3,500 — — 3,450 (*) 3,484 (*) Smart Php1,500M April 18, 2017 PNB Annual amortization rate of 1% of the amount drawn starting on the first anniversary of the advance up to the sixth year anniversary of the advance and the balance payable upon maturity on January 3, 2025 January 3, 2018 1,500 — — 1,500 — PLDT Php2,000M May 24, 2017 Security Bank Semi-annual amortization rate of Php10 million starting on October 5, 2017 and every six months thereafter with the balance payable upon maturity on April 5, 2027 May 29, 2017 2,000 — — 1,970 1,990 PLDT Php3,500 M July 5, 2017 LBP Annual amortization rate of 1% on the first year up to the ninth year after the drawdown date and the balance payable upon maturity on July 12, 2027 July 10, 2017 3,500 — — 3,465 3,500 PLDT Php1,500M August 29, 2017 LBP Annual amortization rate equivalent to 1% of the total loan payable on the first year up to the ninth year after the drawdown date and the balance payable upon maturity on April 3, 2028 April 2, 2018 1,500 — — 1,500 — Smart Php1,000M September 28, 2017 Union Bank Annual amortization rate of 1% of the amount drawn starting on the first year anniversary of the advance up to the ninth year anniversary of the advance and the balance payable upon maturity on February 21, 2028 February 19, 2018 1,000 — — 1,000 — PLDT Php2,000M April 19, 2018 LBP Annual amortization rate equivalent to 1% of the total loan payable on the first year up to the ninth year after the drawdown date and the balance payable upon maturity on April 25, 2028 April 25, 2018 2,000 — — 2,000 — PLDT Php1,000M April 20, 2018 LBP Annual amortization rate equivalent to 1% of the total loan payable on the first year up to the ninth year after the drawdown date and the balance payable upon maturity on May 3, 2028 May 3, 2018 1,000 — — 1,000 — 20,828 11,945 (*) Amounts are net of unamortized debt discount and/or debt issuance cost. (1) The amount of Php2,000 million was prepaid on May 29, 2017. Cancelled Drawn Undrawn Outstanding Amounts Date of Loan Amount Amount Paid in 2018 2017 Loan Amount Agreement Lender(s) Terms Dates Drawn Php Php full on Php Php (in millions) (in millions) PLDT Php2,000M May 9, 2018 BPI Annual amortization rate equivalent to 1% of the amount drawn starting on the first year anniversary of the advance up to the ninth year anniversary of the advance and the balance payable upon maturity on May 10, 2028 May 10, 2018 2,000 — — 2,000 — PLDT Php3,000M May 9, 2018 BPI Annual amortization rate equivalent to 1% of the amount drawn starting on the first year anniversary of the advance up to the ninth year anniversary of the advance and the balance payable upon maturity on May 10, 2028 May 10, 2018 3,000 — August 10, 2018 — — Smart Php2,000M May 25, 2018 BPI Annual amortization rate equivalent to 1% of the amount drawn starting on the first year anniversary of the advance up to the fifth year anniversary of the advance and the balance payable upon maturity on May 28, 2024 May 28, 2018 2,000 — — 1,986 (*) — Smart Php1,500M June 27, 2018 Development Bank of the Philippines, or DBP Annual amortization rate equivalent to 1% of the amount drawn starting on the third year anniversary of the advance up to the fifth year anniversary of the advance and the balance payable upon maturity on June 28, 2024 June 28, 2018 1,500 — — 1,500 — Smart Php3,000M July 31, 2018 BPI Annual amortization rate equivalent to 1% of the amount drawn starting on the first year anniversary of the advance up to the ninth year anniversary of the advance and the balance payable upon maturity on May 10, 2028 August 10, 2018 3,000 — — 2,978 (*) — Smart Php5,000M January 11, 2019 DBP Annual amortization rate equivalent to 1% of the amount drawn starting on the third year anniversary of the advance up to the ninth year anniversary of the advance and the balance payable upon maturity — — — — — — PLDT Php8,000M February 18, 2019 UBP Annual amortization rate equivalent to 1% of the amount drawn starting on the first year anniversary up to the ninth year anniversary of the initial drawdown date and the balance payable upon maturity — — — — — — Smart Php4,000M February 21, 2019 PNB Annual amortization rate equivalent to 1% of the amount drawn starting on the first year anniversary up to the seventh year anniversary of the initial drawdown date and the balance payable upon maturity — — — — — — 8,464 — 122,470 106,982 (*) Amounts are net of unamortized debt discount and/or debt issuance cost. |
Deferred Credits and Other No_2
Deferred Credits and Other Noncurrent Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Text Block1 [Abstract] | |
Summary of Deferred Credits and Other Noncurrent Liabilities | As at December 31, 2018 and 2017, this account consists of: 2018 2017 (in million pesos) Accrual of capital expenditures under long-term financing (Note 28) 2,965 5,580 Provision for asset retirement obligations 1,656 1,630 Contract liabilities and unearned revenues 532 324 Others 131 168 5,284 7,702 |
Summary of Changes to Asset Retirement Obligations | The following table summarizes all changes to asset retirement obligations for the years ended December 31, 2018 and 2017: 2018 2017 (in million pesos) Provision for asset retirement obligations at beginning of the year 1,630 1,582 Additional liability recognized during the year 161 82 Accretion expenses 47 39 Settlement of obligations and others (182 ) (73 ) Provision for asset retirement obligations at end of the year 1,656 1,630 |
Accounts Payable (Tables)
Accounts Payable (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Text Block1 [Abstract] | |
Summary of Accounts Payable | As at December 31, 2018 and 2017, this account consists of: 2018 2017 (in million pesos) Suppliers and contractors (Note 27) 69,099 54,196 Carriers and other customers (Note 27) 1,815 2,083 Taxes (Note 26) 1,789 1,952 Related parties (Notes 24 and 27) 684 451 Others 1,223 1,763 74,610 60,445 |
Accrued Expenses and Other Cu_2
Accrued Expenses and Other Current Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Text Block1 [Abstract] | |
Summary of Accrued Expenses and Other Current Liabilities | As at December 31, 2018 and 2017, this account consists of: 2018 2017 (in million pesos) Accrued utilities and related expenses (Notes 24 and 27) 57,748 53,433 Accrued taxes and related expenses (Note 26) 11,885 11,645 Accrued employee benefits and other provisions (Notes 24, 25 and 27) 7,980 6,599 Liability from redemption of preferred shares (Notes 19 and 27) 7,862 7,870 Contract liabilities and unearned revenues (Note 21) 6,650 8,039 Accrued interests and other related costs (Note 27) 1,347 1,176 Others 2,252 1,978 95,724 90,740 |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Text Block1 [Abstract] | |
Summary of Outstanding Balances and Transactions with Related Parties | The following table provides the summary of outstanding balances as at December 31, 2018 and 2017 transactions that have been entered into with related parties: Classifications Terms Conditions 2018 2017 (in million pesos) Indirect investment in joint ventures through PCEV: Meralco Accrued expenses and other current liabilities (Note 23) Electricity charges – immediately upon receipt of invoice Unsecured 518 653 Accrued expenses and other current liabilities (Note 23) Pole rental – 45 days upon receipt of billing Unsecured 209 5 Meralco Industrial Engineering Services Corporation, or MIESCOR Accrued expenses and other current liabilities (Note 23) 30 days upon receipt of invoice Unsecured 3 — MPIC Financial assets at FVOCI - net of current portion (Note 10) Due on June 2020 and 2021 for 2018 and due on June 2019 to 2021 for 2017; non-interest-bearing Unsecured 2,749 — Current portion of financial assets at fair value through other comprehensive income (Note 10) Due on June 2019 for 2018 and due on June 2018 for 2017; non-interest-bearing Unsecured 1,604 — Trade and other receivables (Note 16) Due on June 2018 for 2017 and June 2017 for 2016; non-interest-bearing Unsecured — 4,091 Advances and other noncurrent assets – net of current portion (Note 10) Due on 2019 to 2021 for 2017 and 2018 to 2020 for 2016; non-interest-bearing Unsecured — 11,461 Transactions with major stockholders, directors and officers: NTT Finance Corporation Interest-bearing financial liabilities (Note 20) Non-amortizing, payable upon maturity on March 30, 2023 and March 27, 2024 Unsecured 2,628 2,498 NTT World Engineering Marine Corporation Accrued expenses and other current liabilities (Note 23) 1st month of each quarter; non-interest-bearing Unsecured 84 33 NTT Communications Accrued expenses and other current liabilities (Note 23) 30 days upon receipt of invoice; non-interest-bearing Unsecured 20 9 NTT Worldwide Telecommunications Corporation Accrued expenses and other current liabilities (Note 23) 30 days upon receipt of invoice; non-interest-bearing Unsecured 3 6 NTT DOCOMO Accrued expenses and other current liabilities (Note 23) 30 days upon receipt of invoice; non-interest-bearing Unsecured 12 11 JGSHI and Subsidiaries Accounts payable and accrued expenses and other current liabilities (Notes 22 and 23) Immediately upon receipt of invoice Unsecured 13 11 Malayan Insurance Co., Inc. or Malayan Prepayments (Note 18) Immediately upon receipt of invoice Unsecured 19 66 Accrued expenses and other current liabilities (Note 23) Immediately upon receipt of invoice Unsecured 6 11 Gotuaco del Rosario and Associates, or Gotuaco Prepayments (Note 18) Immediately upon receipt of invoice Unsecured — 12 Accrued expenses and other current liabilities (Note 23) Immediately upon receipt of invoice Unsecured 5 15 Others: TV5 Network, Inc., or TV5 Prepayments (Note 18) — Unsecured — 277 Cignal Cable Corporation, or Cignal Cable (formerly Dakila Cable TV Corp.) Prepayments (Note 18) — Unsecured 169 — Accrued expenses and other current liabilities (Note 23) Immediately upon receipt of invoice Unsecured — 125 Various Trade and other receivables (Note 16) 30 days upon receipt of invoice Unsecured 2,094 1,867 Accounts payable (Note 22) Immediately upon receipt of billing Unsecured 684 365 Accrued expenses and other current liabilities (Note 23) Immediately upon receipt of billing Unsecured 9 35 The following table provides the summary of transactions that have been entered into with related parties for the years ended December 31, 2018, 2017 and 2016 in relation with the table above. Classifications 2018 2017 2016 (in million pesos) Indirect investment in joint ventures through PCEV: Meralco Repairs and maintenance 2,771 2,397 2,401 Rent 583 298 272 MIESCOR Repairs and maintenance 33 117 144 Construction-in-progress 33 81 67 Transactions with major stockholders, directors and officers: NTT Finance Corporation Financing costs 100 56 9 NTT World Engineering Marine Corporation Repairs and maintenance 17 47 18 NTT Communications Professional and other contracted services 95 88 77 Rent 5 4 7 NTT Worldwide Telecommunications Corporation Selling and promotions 5 8 10 NTT DOCOMO Professional and other contracted services 96 94 95 JGSHI and Subsidiaries Rent 236 118 125 Repairs and maintenance 111 69 57 Communication, training and travel 20 2 2 Miscellaneous expenses 7 — — Malayan Insurance and security services 182 179 242 Gotuaco Insurance and security services 163 126 156 Asia Link B.V., or ALBV Professional and other contracted services 34 190 183 First Pacific Investment Management Limited, or FPIML Professional and other contracted services 135 — — Others: TV5 Selling and promotions 409 149 126 Cignal Cable Cost of services 372 514 116 Various Revenues 2,355 2,059 781 Expenses 1,935 1,223 1,113 |
Summary of Compensation of Key Officers by Benefit Type | The compensation of key officers of the PLDT Group by benefit type for the years ended December 31, 2018, 2017 and 2016 are as follows: 2018 2017 2016 (in million pesos) Short-term employee benefits 401 325 527 Share-based payments (Note 25) 83 — — Post-employment benefits (Note 25) 30 27 50 Total compensation paid to key officers of the PLDT Group 514 352 577 |
Employee Benefits (Tables)
Employee Benefits (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Defined Benefit Pension Plans [member] | |
Disclosure Of Defined Benefit Plans [Line Items] | |
Summary of Changes in Present Value of Defined Benefit Obligations, Fair Value of Plan Assets and Components of Net Periodic Benefit Costs | PLDT’s actuarial valuation is performed every year-end. Based on the latest actuarial valuation, the actual present value of accrued (prepaid) benefit costs, net periodic benefit costs and average assumptions used in developing the valuation as at and for the years ended December 31, 2018, 2017 and 2016 are as follows: 2018 2017 2016 (in million pesos) Changes in the present value of defined benefit obligations: Present value of defined benefit obligations at beginning of the year 21,503 23,142 21,602 Interest costs on benefit obligation 1,227 1,180 1,071 Service costs 1,063 1,158 1,066 Actual benefits paid/settlements (887 ) (2,723 ) (241 ) Actuarial losses – experience 419 423 369 Actuarial gains – economic assumptions (2,611 ) (1,277 ) (694 ) Curtailments and others (Note 5) (31 ) (400 ) (31 ) Present value of defined benefit obligations at end of the year 20,683 21,503 23,142 Changes in fair value of plan assets: Fair value of plan assets at beginning of the year 12,534 11,960 11,439 Actual contributions 5,110 5,122 5,708 Interest income on plan assets 770 641 600 Actual benefits paid/settlements (887 ) (2,723 ) (241 ) Return on plan assets (excluding amount included in net interest) (3,988 ) (2,466 ) (5,546 ) Fair value of plan assets at end of the year 13,539 12,534 11,960 Unfunded status – net (7,144 ) (8,969 ) (11,182 ) Accrued benefit costs 7,159 8,984 11,197 Prepaid benefit costs (Note 18) 15 15 15 Components of net periodic benefit costs: Service costs 1,063 1,158 1,066 Interest costs – net 457 539 471 Curtailment/settlement losses and other adjustments 21 (341 ) — 1,541 1,356 1,537 |
Summary of Expected Future Settlements | The following table sets forth the expected future settlements by the Plan of maturing defined benefit obligation as at December 31, 2018: (in million pesos) 2019 368 2020 396 2021 566 2022 768 2023 1,102 2024 to 2064 105,007 |
Summary of Weighted Average Assumptions Used to Determine Pension Benefits | The weighted average assumptions used to determine pension benefits for the years ended December 31, 2018, 2017 and 2016 are as follows: 2018 2017 2016 Rate of increase in compensation 6.0 % 6.0 % 6.0 % Discount rate 7.3 % 5.8 % 5.3 % |
Summary of Sensitivity Analysis on Defined Benefit Obligation | The sensitivity analysis below has been determined based on reasonably possible changes of each significant assumption on the defined benefit obligation as at December 31, 2018 and 2017, assuming if all other assumptions were held constant: Increase (Decrease) (in million pesos) Discount rate 1% (664 ) (1%) 1,011 Future salary increases 1% 1,015 (1%) (679 ) |
Summary of Plan Assets | The following table sets forth the fair values, which are equal to the carrying values, of PLDT’s plan assets recognized as at December 31, 2018 and 2017: 2018 2017 (in million pesos) Noncurrent Financial Assets Investments in: Unlisted equity investments 10,707 9,372 Shares of stock 2,066 2,510 Corporate bonds 133 111 Government securities 31 22 Mutual funds 4 30 Investment properties — 4 Total noncurrent financial assets 12,941 12,049 Current Financial Assets Cash and cash equivalents 499 396 Receivables 8 4 Total current financial assets 507 400 Total PLDT’s Plan Assets 13,448 12,449 Subsidiaries Plan Assets 91 85 Total Plan Assets of Defined Benefit Pension Plans 13,539 12,534 |
Defined Benefit Pension Plans [member] | Investment property [member] | |
Disclosure Of Defined Benefit Plans [Line Items] | |
Summary of Allocation of Fair Value of Plan Assets | The allocation of the fair value of the assets for the PLDT pension plan as at December 31, 2018 and 2017 are as follows: 2018 2017 Investments in listed and unlisted equity securities 95 % 95 % Temporary cash investments 4 % 3 % Debt and fixed income securities 1 % 1 % Mutual funds — 1 % 100 % 100 % |
Defined Benefit Pension Plans [member] | Unlisted Equity Investments [member] | |
Disclosure Of Defined Benefit Plans [Line Items] | |
Summary of Plan Assets | As at December 31, 2018 and 2017, this account consists of: 2018 2017 2018 2017 % of Ownership (in million pesos) MediaQuest 100 % 100 % 10,022 8,696 Tahanan Mutual Building and Loan Association, Inc., or TMBLA, (net of subscriptions payable of Php32 million) 100 % 100 % 474 435 BTFHI 100 % 100 % 211 201 Superior Multi Parañaque Homes, Inc., or SMPHI 100 % 100 % — 39 Bancholders, Inc., or Bancholders 100 % 100 % — 1 10,707 9,372 |
Defined Benefit Pension Plans [member] | Shares of stock [Member] | |
Disclosure Of Defined Benefit Plans [Line Items] | |
Summary of Plan Assets | As at December 31, 2018 and 2017, this account consists of: 2018 2017 (in million pesos) Common shares PSE 1,185 1,555 PLDT 30 39 Others 491 556 Preferred shares 360 360 2,066 2,510 |
Defined Contribution Plans [member] | |
Disclosure Of Defined Benefit Plans [Line Items] | |
Summary of Changes in Present Value of Defined Benefit Obligations, Fair Value of Plan Assets and Components of Net Periodic Benefit Costs | Smart’s and certain of its subsidiaries’ actuarial valuation is performed every year-end. Based on the latest actuarial valuation, the actual present value of prepaid benefit costs, net periodic benefit costs and average assumptions used in developing the valuation as at and for the years ended December 31, 2018, 2017 and 2016 are as follows: 2018 2017 2016 (in million pesos) Changes in the present value of defined benefit obligations: Present value of defined benefit obligations at beginning of the year 2,490 2,177 2,116 Service costs 314 269 284 Interest costs on benefit obligation — 113 94 Actuarial losses – economic assumptions — 29 1 Actuarial gains – experience — (6 ) (77 ) Actual benefits paid/settlements — (92 ) (226 ) Curtailment and others — — (15 ) Present value of defined benefit obligations at end of the year 2,804 2,490 2,177 Changes in fair value of plan assets: Fair value of plan assets at beginning of the year 2,862 2,414 2,388 Actual contributions 297 335 201 Interest income on plan assets — 131 125 Return on plan assets (excluding amount included in net interest) — 74 (74 ) Actual benefits paid/settlements — (92 ) (226 ) Fair value of plan assets at end of the year 3,159 2,862 2,414 Funded status – net 355 372 237 Accrued benefit costs 23 13 9 Prepaid benefit costs (Note 18) 378 385 246 Components of net periodic benefit costs: Service costs 314 269 284 Interest costs – net — (18 ) (31 ) Curtailment/settlement gain — — (15 ) Net periodic benefit costs (Note 5) 314 251 238 |
Summary of Expected Future Settlements | The following table sets forth the expected future settlements by the Plan of maturing defined benefit obligation as at December 31, 2018: (in million pesos) 2019 75 2020 160 2021 87 2022 114 2023 147 2024 to 2060 1,360 |
Summary of Weighted Average Assumptions Used to Determine Pension Benefits | The weighted average assumptions used to determine pension benefits for the years ended December 31, 2018, 2017 and 2016 are as follows: 2018 2017 2016 Rate of increase in compensation 7.3 % 5.0 % 5.0 % Discount rate 6.0 % 5.8 % 5.2 % |
Summary of Sensitivity Analysis on Defined Benefit Obligation | The sensitivity analysis below has been determined based on reasonably possible changes of each significant assumption on the defined benefit obligation as at December 31, 2018, assuming if all other assumptions were held constant: Increase (Decrease) (in million pesos) Discount rate (1%) 11 1% (6 ) Future salary increases 1% 11 (1%) (6 ) |
Summary of Plan Assets | The following table sets forth the fair values, which are equal to the carrying values, of Smart’s plan assets recognized as at December 31, 2018 and 2017: 2018 2017 (in million pesos) Noncurrent Financial Assets Investments in: Domestic fixed income 1,854 1,721 International equities 550 557 Domestic equities 333 555 Philippine foreign currency bonds 165 373 International fixed income — 361 Total noncurrent financial assets 2,902 3,567 Current Financial Assets Cash and cash equivalents 891 153 Receivables 1 8 Total current financial assets 892 161 Total plan assets 3,794 3,728 Employee’s share, forfeitures and mandatory reserve account 635 866 Total Plan Assets of Defined Contribution Plans 3,159 2,862 |
Summary of Allocation of Fair Value of Plan Assets | The allocation of the fair value of Smart and certain of its subsidiaries pension plan assets as at December 31, 2018 and 2017 is as follows: 2018 2017 Investments in debt and fixed income securities and others 77 % 70 % Investments in listed and unlisted equity securities 23 % 30 % 100 % 100 % |
Financial Assets and Liabilit_2
Financial Assets and Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Financial Assets And Liabilities [Abstract] | |
Summary of Consolidated Financial Assets and Financial Liabilities | The following table sets forth our consolidated financial assets and financial liabilities as at December 31, 2018 and 2017: Financial instruments at amortized cost Financial instruments at FVPL Financial instruments at FVOCI Total financial instruments (in million pesos) Assets as at December 31, 2018 Noncurrent: Financial assets at fair value through profit or loss — 4,763 — 4,763 Debt instruments at amortized cost 150 — — 150 Derivative financial assets – net of current portion — 140 — 140 Financial assets at fair value through other comprehensive income – net of current portion — — 2,749 2,749 Other financial assets – net of current portion 2,275 — — 2,275 Current: Cash and cash equivalents 51,654 — — 51,654 Short-term investments 1,165 — — 1,165 Trade and other receivables 24,056 — — 24,056 Current portion of derivative financial assets — 183 — 183 Current portion of financial assets at fair value through other comprehensive income — — 1,604 1,604 Current portion of other financial assets 175 6,833 — 7,008 Total assets 79,475 11,919 4,353 95,747 Liabilities as at December 31, 2018 Noncurrent: Interest-bearing financial liabilities – net of current portion 155,835 — — 155,835 Customers' deposits 2,194 — — 2,194 Deferred credits and other noncurrent liabilities 3,088 — — 3,088 Current: Accounts payable 72,818 — — 72,818 Accrued expenses and other current liabilities 68,920 7,862 — 76,782 Current portion of interest-bearing financial liabilities 20,441 — — 20,441 Dividends payable 1,533 — — 1,533 Current portion of derivative financial liabilities — 80 — 80 Total liabilities 324,829 7,942 — 332,771 Net assets (liabilities) (245,354 ) 3,977 4,353 (237,024 ) Loans and receivables HTM investments Financial instruments at FVPL Derivatives used for hedging Available- for-sale financial investments Financial liabilities carried at amortized cost Total financial assets and liabilities (in million pesos) Assets as at December 31, 2017 Noncurrent: Available-for-sale financial investments — — — — 15,165 — 15,165 Investment in debt securities and other long- term investments – net of current portion — 150 — — — — 150 Derivative financial assets – net of current portion — — — 215 — — 215 Advances and other noncurrent assets – net of current portion 13,855 — — — — — 13,855 Current: Cash and cash equivalents 32,905 — — — — — 32,905 Short-term investments 1,074 — — — — — 1,074 Trade and other receivables 33,761 — — — — — 33,761 Current portion of derivative financial assets — — — 171 — — 171 Current portion of investment in debt securities and other long-term investments 100 — — — — — 100 Current portion of advances and other noncurrent assets 6,824 — — — — — 6,824 Total assets 88,519 150 — 386 15,165 — 104,220 Liabilities as at December 31, 2017 Noncurrent: Interest-bearing financial liabilities – net of current portion — — — — — 157,654 157,654 Derivative financial liabilities – net of current portion — — — 8 — — 8 Customers’ deposits — — — — — 2,443 2,443 Deferred credits and other noncurrent liabilities — — — — — 5,680 5,680 Current: Accounts payable — — — — — 58,490 58,490 Accrued expenses and other current liabilities — — — — — 70,648 70,648 Current portion of interest-bearing financial liabilities — — — — — 14,957 14,957 Dividends payable — — — — — 1,575 1,575 Current portion of derivative financial liabilities — — 90 51 — — 141 Total liabilities — — 90 59 — 311,447 311,596 Net assets (liabilities) 88,519 150 (90 ) 327 15,165 (311,447 ) (207,376 ) |
Summary of Consolidated Offsetting of Financial Assets and Liabilities | The following table sets forth our consolidated offsetting of financial assets and liabilities recognized as at December 31, 2018 and 2017: Gross amounts of recognized financial assets and liabilities Gross amounts of recognized financial assets and liabilities set-off in the statement of financial position Net amount presented in the statement of financial position (in million pesos) December 31, 2018 Current Financial Assets Trade and other receivables Foreign administrations 6,882 3,576 3,306 Domestic carriers 8,245 8,052 193 Total 15,127 11,628 3,499 Current Financial Liabilities Accounts payable Suppliers and contractors 69,144 45 69,099 Carriers and other customers 5,602 2,567 3,035 Total 74,746 2,612 72,134 December 31, 2017 Current Financial Assets Trade and other receivables Foreign administrations 8,536 2,957 5,579 Domestic carriers 4,332 3,950 382 Total 12,868 6,907 5,961 Current Financial Liabilities Accounts payable Suppliers and contractors 54,220 24 54,196 Carriers and other customers 7,426 4,943 2,483 Total 61,646 4,967 56,679 |
Reconciliation of Carrying Amounts of Financial Instruments from Their Previous Classification Measurement Category | As at January 1, 2018, we have reviewed and assessed all of its existing financial instruments. The following table reconciles the carrying amounts of financial instruments from their previous classification and measurement category in accordance with IAS 39 to their new classification and measurement categories upon transition to IFRS 9 on January 1, 2018. IAS 39 Remeasurement IFRS 9 Reference Category Amount Reclassification ECL Others Amount Category (in million pesos) Financial Assets Cash and cash equivalents Loans and receivables 32,905 — — — 32,905 Amortized Cost Short-term investments Loans and receivables 1,074 — — — 1,074 Amortized Cost Trade and other receivables 3, 5 Loans and receivables 33,761 (4,091 ) (258 ) — 29,412 Amortized Cost Current portion of investment in debt securities and other long-term investments Loans and receivables 100 — — — 100 Amortized Cost Current portion of advances and other noncurrent assets 3, 5 Loans and receivables 6,824 (6,785 ) — — 39 Amortized Cost Less: To Financial instruments at FVPL (6,785 ) To Financial instruments at FVOCI (4,091 ) Advances and other noncurrent assets – net of current portion 3, 5 Loans and receivables 13,855 (11,461 ) (18 ) — 2,376 Amortized Cost Less: To Financial instruments at FVOCI (11,461 ) Investment in debt securities and other long-term investments – net of current portion 2 N/A 150 — — 150 Amortized Cost Add: From HTM investments 150 Loans and receivables 88,519 (22,187 ) (276 ) — 66,056 Amortized Cost Investment in debt securities and other long-term investments – net of current portion 2 Held-to- maturity 150 (150 ) Less: To Financial instruments at amortized cost (150 ) Held-to- maturity 150 (150 ) Current portion of derivative financial assets 1 Derivatives used for hedging 171 (171 ) — — — Derivative financial assets – net of current portion 1 Derivatives used for hedging 215 (215 ) — — — Current portion of derivative financial liabilities 1 Derivatives used for hedging (51 ) 51 — — — Derivative financial liabilities – net of current portion 1 Derivatives used for hedging (8 ) 8 — — — Less: To financial assets at FVPL (327 ) Derivatives used for hedging 327 (327 ) Available-for-sale financial investments 4 Available- for-sale financial investments 15,165 (15,165 ) — — — Less: To financial assets at FVPL (15,165 ) Available- for-sale financial investments 15,165 (15,165 ) — — — Trade and other receivables 3, 5 N/A 4,091 — (8 ) 4,083 FVOCI Advances and other noncurrent assets – net of current portion 3, 5 N/A 11,461 — (128 ) 11,333 FVOCI Add: From Loans and receivables 15,552 15,552 — (136 ) 15,416 FVOCI Current portion of derivative financial assets 1 N/A 171 — — 171 FVPL Derivative financial assets – net of current portion 1 N/A 215 — — 215 FVPL Current portion of derivative financial liabilities 1 N/A (51 ) — — (51 ) FVPL Derivative financial liabilities – net of current portion 1 N/A (8 ) — — (8 ) FVPL Current portion of advances and other noncurrent assets 3 N/A 6,785 — — 6,785 FVPL Available-for-sale financial investments 4 N/A 15,165 — — 15,165 FVPL Add: From Loans and receivables 6,785 — — — From Available-for-sale financial investments 15,165 — — — From Derivatives used for hedging 327 — — — 22,277 — — 22,277 FVPL (1) (2) (3) (4) (5) The following table sets forth our consolidated carrying values and estimated fair values of our financial assets and liabilities recognized as at December 31, 2018 and 2017 other than those whose carrying amounts are reasonable approximations of fair values: Carrying Value Fair Value 2018 2017 2018 2017 (in million pesos) Noncurrent Financial Assets Debt instruments at amortized cost 150 — 148 — Investment in debt securities and other long-term investments – net of current portion — 150 — 151 Other financial assets – net of current portion 2,275 — 2,020 — Advances and other noncurrent assets — 13,855 — 13,695 Total 2,425 14,005 2,168 13,846 Noncurrent Financial Liabilities Interest-bearing financial liabilities: Long-term debt – net of current portion 155,835 157,654 139,504 150,918 Customers' deposits 2,194 2,443 1,305 1,700 Deferred credits and other noncurrent liabilities 3,088 5,680 2,583 5,093 Total 161,117 165,777 143,392 157,711 |
Summary of Consolidated Financial Assets and Liabilities Carried at Fair Value | Below is the list of our consolidated financial assets and liabilities carried at fair value that are classified using a fair value hierarchy as required for our complete sets of consolidated financial statements as at December 31, 2018 and 2017. This classification provides a reasonable basis to illustrate the nature and extent of risks associated with those financial statements. 2018 2017 Level 1 (1) Level 2 (2) Level 3 (3) Total Level 1 (1) Level 2 (2) Level 3 (3) Total (in million pesos) Noncurrent Financial Assets Listed equity securities Financial assets at FVPL 3,625 154 984 4,763 — — — — Available-for-sale financial investments — — — — 12,848 130 2,187 15,165 Derivative financial assets – net of current portion — 140 — 140 — 215 — 215 Financial assets at FVOCI – net of current portion — 2,749 — 2,749 — — — — Current Financial Assets — — Current portion of derivative financial assets — 183 — 183 — 170 — 170 Current portion of FVOCI — 1,604 — 1,604 — — — — Current portion of other financial assets — 6,833 — 6,833 — — — — Total 3,625 11,663 984 16,272 12,848 515 2,187 15,550 Noncurrent Financial Liabilities Derivative financial liabilities — — — — — 8 — 8 Current Financial Liabilities Accrued expenses and other current liabilities — 7,862 — 7,862 — — — — Derivative financial liabilities — 80 — 80 — 141 — 141 Total — 7,942 — 7,942 — 149 — 149 (1) (2) ( 3 ) |
Summary of Derivative Financial Instruments | The table below sets out the information about our consolidated derivative financial instruments as at December 31, 2018 and 2017: 2018 2017 Original Notional Amount Trade Date Underlying Transaction in U.S. Dollar Termination Date Weighted Average Hedge Cost Weighted Average Foreign Exchange Rate Notional Amount Net Mark- to- market Gains (Losses) in Php Notional Amount Net Mark- to- market Gains (Losses) in Php (in millions) (in millions) (in millions) Transactions not designated as hedges: PLDT Long-term currency swaps US$262 2001 and 2002 300 Notes 2017 March 6, 2017 3.42 % Php49.85 — — — — Forward foreign exchange contracts US$34 Various dates in 2017 U.S. dollar liabilities Various dates in 2017 — Php50.18 — — — — US$56 Various dates in 2017 U.S. dollar liabilities Various dates in 2018 — Php50.77 — — US$56 (39 ) US$58 Various dates in 2018 U.S. dollar liabilities Various dates in 2018 — Php52.56 — — — — US$78 Various dates in 2018 and 2019 U.S. dollar liabilities Various dates in January 2019 to July 2019 — Php52.98 US$34 (22 ) — — EUR9 Various dates in August 2018 EUR assets December 14, 2018 — US$1.17 — — — — EUR11 Various dates in 2018 EUR assets December 14, 2018 — Php62.95 — — — — Foreign exchange options EUR36 (a) Various dates in 2018 EUR assets Various dates in November 2018 and December 2018 — EUR1.161 — — — — EUR1.185 Smart Forward foreign exchange contracts US$91 Various dates in 2016 and 2017 U.S. dollar liabilities Various dates in 2017 — Php49.54 — — — — US$120 Various dates in 2017 and 2018 U.S. dollar liabilities Various dates in 2018 — Php52.13 — — US$46 (49 ) US$54 Various dates in 2017 and 2018 U.S. dollar liabilities Various dates in 2019 — Php53.58 US$54 (38 ) — — US$28 January to March 2019 U.S. dollar liabilities Various dates in 2019 — Php52.48 Foreign exchange options US$59 (b) Various dates in 2016 and 2017 U.S. dollar liabilities Various dates in 2017 — Php49.60 — — — — Php50.30 Php51.24 US$4 (c) Various dates in 2017 and 2018 U.S. dollar liabilities Various dates in 2018 — Php50.64 — — US$3 (2 ) Php51.58 Php52.48 DMPI Interest rate swaps US$54 October 7, 2008 59 loan facility March 31, 2017 3.88 % — — — — — US$47 October 7, 2008 51 loan facility June 30, 2017 3.97 % — — — — — (60 ) (90 ) Transactions designated as hedges: PLDT Interest rate swaps (d) US$30 January 23, 2015 150 term loan March 7, 2017 2.11 % — — — — — US$240 Various dates in 2013 and 2015 300 term loan January 16, 2018 2.17 % — — — US$33 2 US$100 August 2014 100 PNB August 11, 2020 3.46 % — US$96 55 US$97 5 US$50 September 2014 50 Metrobank September 2, 2020 3.47 % — US$48 25 US$49 — US$150 April and June 2015 200 term loan February 25, 2022 2.70 % — US$79 66 US$150 26 Long-term currency swaps (e) US$140 October 2015 to June 2016 300 term loan January 16, 2018 2.20 % Php46.67 — — US$31 88 US$4 January 2017 100 PNB August 11, 2020 1.01 % Php49.79 US$2 7 US$3 2 US$6 April and June 2017 200 MUFG Bank, Ltd. August 26, 2019 1.63 % Php49.51 US$3 9 US$6 — US$2 January 2018 200 MUFG Bank, Ltd. August 26, 2019 1.59 % Php49.86 US$1 3 — — US$6 February 2018 200 MUFG Bank, Ltd. February 26, 2020 1.82 % Php51.27 US$5 6 — — US$11 November and December 2018 200 MUFG Bank, Ltd. February 25, 2022 2.32 % Php52.36 US$11 17 — — US$9 February 2019 200 MUFG Bank, Ltd. February 25, 2022 2.23 % Php51.88 Smart Interest rate swaps (f) US$44 May 16, 2013 50 Bank of Tokyo May 30, 2017 1.77 % — — — — — US$110 Various dates in 2013 and 2014 120 term loan June 20, 2018 2.22 % — — — US$15 3 US$85 Various dates in 2014 and 2015 100 Bank of Tokyo March 7, 2019 2.23 % — US$10 3 US$29 8 US$50 October 2, 2014 50 Mizuho May 14, 2019 2.58 % — US$5 2 US$17 4 US$200 Various dates in 2015 200 Mizuho March 4, 2020 2.10 % — US$67 52 US$111 51 US$30 February 2016 100 Mizuho December 7, 2021 2.03 % — US$18 24 US$24 23 Long-term currency swaps (g) US$100 Various dates in 2015 200 Mizuho March 5, 2018 2.21 % Php46.66 — — US$20 58 US$45 Various dates in 2016 100 Mizuho December 7, 2018 1.93 % Php46.55 — — US$18 58 US$11 Various dates in 2017 80 CBC May 31, 2018 1.28 % Php49.66 — — US$4 1 US$16 Various dates in 2017 and 2018 100 Mizuho December 7, 2020 1.69 % Php50.82 US$16 28 US$8 (2 ) US$12 Various dates in 2018 200 Mizuho March 4, 2020 2.01 % Php51.87 US$9 6 — — US$2 January 10, 2019 2015 Mizuho US$200M March 4, 2020 2.25 % Php52.16 US$2 January 11, 2019 2015 Mizuho US$100M December 7, 2020 2.34 % Php52.18 US$6 February 2019 2015 Mizuho US$100M December 7, 2021 2.21 % Php51.83 303 327 243 237 (a) If the EUR to U.S. dollar spot exchange rate on the fixing date settles below €1.161, PLDT will sell the EUR at €1.161. However, if on the fixing date, the exchange rate settles between the €1.161 and €1.185, there will be no settlement by PLDT, and if the exchange rate is above €1.185, PLDT will sell the EUR at €1.185 (b) If the Philippine peso to U.S. dollar spot exchange rate on the maturity date settles between Php50.30 to Php51.24, Smart will purchase the U.S. dollar for Php50.30. However, if on maturity, the exchange rate settles above Php51.24, Smart will purchase the U.S. dollar for Php50.30 plus the excess above Php51.24, and if the exchange rate is lower than Php50.30, Smart will purchase the U.S. dollar at the prevailing Philippine peso to U.S. dollar spot exchange rate, subject to a floor of Php49.60. (c) If the Philippine peso to U.S. dollar spot exchange rate on the maturity date settles between Php51.58 to Php52.48, Smart will purchase the U.S. dollar for Php51.58. However, if on maturity, the exchange rate settles above Php52.48, Smart will purchase the U.S. dollar for Php51.58 plus the excess above Php52.48, and if the exchange rate is lower than Php51.58, Smart will purchase the U.S. dollar at the prevailing Philippine peso to U.S. dollar spot exchange rate, subject to a floor of Php50.64. (d) PLDT’s interest rate swap agreements outstanding as at December 31, 2018 and 2017 were designated as cash flow hedges, wherein the effective portion of the movements in fair value is recognized in our consolidated statements of other comprehensive income, while any ineffective portion is recognized immediately in our consolidated income statements. The mark-to-market gains amounting to Php129 million and Php44 million were recognized in our consolidated statements of other comprehensive income as at December 31, 2018 and 2017, respectively. Interest accrual on the interest rate swaps amounting to Php17 million and Php11 million were recorded as at December 31, 2018 and 2017, respectively. There were no ineffective portion in the fair value recognized in our consolidated income statements for the years ended December 31, 2018 and 2017. (e) PLDT’s long-term principal only-currency swap agreements entered into in 2015 to 2018 were designated as cash flow hedges, wherein effective portion of the movements in the fair value is recognized in our consolidated statements of other comprehensive income, while any ineffective portion is recognized immediately in our consolidated income statements. The mark-to-market gains amounting to Php45 million and Php108 million were recognized in our consolidated statements of other comprehensive income as at December 31, 2018 and 2017, respectively. Hedge cost accrual on the long-term principal only-currency swaps amounting to Php3 million and Php18 million were recognized as at December 31, 2018 and 2017, respectively. The amounts recognized as other comprehensive income are transferred to profit or loss when the hedged loan is revalued for changes in the foreign exchange rate. A hedge cost portion of the movements in the fair value amounting to Php1 million and Php3 million were recognized in our consolidated income statements for the years ended December 31, 2018 and 2017, respectively. (f) Smart’s interest rate swap agreements outstanding as at December 31, 2018 and 2017 were designated as cash flow hedges, wherein the effective portion of the movements in fair value is recognized in our consolidated statements of other comprehensive income, while any ineffective portion is recognized immediately in our consolidated income statements. The mark-to-market gains amounting to Php63 million and Php85 million were recognized in our consolidated statements of other comprehensive income as at December 31, 2018 and 2017, respectively. Reduction on interest arising from the interest rate swaps amounted to Php18 million and Php4 million as at December 31, 2018 and 2017, respectively. There were no ineffective portion in the fair value recognized in our consolidated income statements for the years ended December 31, 2018 and 2017. (g) Smart’s long-term principal only-currency swap agreements outstanding as at December 31, 2018 and 2017 were designated as cash flow hedges, wherein the effective portion of the movements in fair value is recognized in our consolidated statements of other comprehensive income, while any ineffective portion is recognized immediately in our consolidated income statements. The mark-to-market gains amounting to Php50 million and Php124 million were recognized in our consolidated statements of other comprehensive income as at December 31, 2018 and 2017, respectively. Hedge cost accrual on the long-term principal only-currency swaps amounting to Php16 million and Php9 million were recognized as at December 31, 2018 and 2017, respectively. The amounts recognized as other comprehensive income are transferred to profit or loss when the hedged loan is revalued for changes in the foreign exchange rate. A hedge cost portions of the movements in the fair value amounting to Php2 million and Php4 million was recognized in our consolidated income statements for the years ended December 31, 2018 and 2017, respectively. |
Summary of Derivative Financial Instruments by Classification | 2018 2017 (in million pesos) Presented as: Noncurrent assets 140 215 Current assets 183 171 Noncurrent liabilities — (8 ) Current liabilities (80 ) (141 ) Net assets 243 237 |
Summary of Movements of Consolidated Mark-to-Market Gains (Losses) | Movements of our consolidated mark-to-market gains for the years ended December 31, 2018 and 2017 are summarized as follows: 2018 2017 (in million pesos) Net mark-to-market gains at beginning of the year 237 514 Gains on derivative financial instruments (Note 4) 1,135 724 Effective portion recognized in the profit or loss for the cash flow hedges 27 (55 ) Net fair value losses on cash flow hedges charged to other comprehensive income (286 ) (411 ) Settlements, interest expense and others (870 ) (535 ) Net mark-to-market gains at end of the year 243 237 |
Summary of Analysis of Gains (Losses) on Derivative Financial Instruments | Our consolidated analysis of gains on derivative financial instruments for the years ended December 31, 2018, 2017 and 2016 are as follows: 2018 2017 2016 (in million pesos) Gains on derivative financial instruments (Note 4) 1,135 724 1,539 Hedge costs (49 ) (191 ) (543 ) Net gains on derivative financial instruments (Notes 4 and 5) 1,086 533 996 |
Discolsure of Reconciliation of Component of Equity | |
Summary of Maturity Profile of Financial Assets Based on Consolidated Undiscounted Claims Outstanding | The following table discloses a summary of maturity profile of our financial assets based on our consolidated undiscounted claims outstanding as at December 31, 2018 and 2017: Total Less than 1 year 1-3 years 3-5 years More than 5 years (in million pesos) December 31, 2018 Financial instruments at amortized cost: 90,232 87,526 2,190 349 167 Other financial assets 2,686 130 2,040 349 167 Debt instruments at amortized cost 150 — 150 — — Cash equivalents 45,672 45,672 — — — Short-term investments 1,165 1,165 — — — Retail subscribers 19,444 19,444 — — — Corporate subscribers 11,073 11,073 — — — Foreign administrations 4,225 4,225 — — — Domestic carriers 270 270 — — — Dealers, agents and others 5,547 5,547 — — — Financial instruments at FVPL: 11,596 6,833 — — 4,763 Financial assets at fair value through profit or loss 4,763 — — — 4,763 Other financial assets 6,833 6,833 — — — Financial assets at fair value through other comprehensive income 4,353 1,604 2,749 — — Total 106,181 95,963 4,939 349 4,930 December 31, 2017 Loans and receivables: 96,891 82,814 11,175 2,739 163 Advances and other noncurrent assets 20,901 6,824 11,175 2,739 163 Cash equivalents 26,554 26,554 — — — Short-term investments 1,074 1,074 — — — Investment in debt securities and other long-term investments 100 100 — — — Retail subscribers 17,961 17,961 — — — Corporate subscribers 9,641 9,641 — — — Foreign administrations 6,517 6,517 — — — Domestic carriers 457 457 — — — Dealers, agents and others 13,686 13,686 — — — HTM investments: 150 — 150 — — Investment in debt securities and other long-term investments 150 — 150 — — Available-for-sale financial investments 15,165 — — — 15,165 Total 112,206 82,814 11,325 2,739 15,328 |
Summary of Maturity Profile of Financial Liabilities Based on Consolidated Contractual Undiscounted Obligations Outstanding | The following table discloses a summary of maturity profile of our financial liabilities based on our consolidated contractual undiscounted obligations outstanding as at December 31, 2018 and 2017: Payments Due by Period Total Less than 1 year 1-3 years 3-5 years More than 5 years (in million pesos) December 31, 2018 Debt (1): 218,791 13,892 72,007 51,098 81,794 Principal 176,694 13,292 49,747 41,401 72,254 Interest 42,097 600 22,260 9,697 9,540 Lease obligations: 22,674 12,727 4,066 2,616 3,265 Operating lease 22,674 12,727 4,066 2,616 3,265 Other obligations: 145,892 140,549 3,206 176 1,961 Various trade and other obligations: 145,892 140,549 3,206 176 1,961 Suppliers and contractors 72,064 69,099 2,828 137 — Utilities and related expenses 48,189 48,128 61 — — Employee benefits 7,955 7,955 — — — Liability from redemption of preferred shares 7,862 7,862 — — — Customers’ deposits 2,194 — 194 39 1,961 Carriers and other customers 1,815 1,815 — — — Dividends 1,533 1,533 — — — Others 4,280 4,157 123 — — Total contractual obligations 387,357 167,168 79,279 53,890 87,020 December 31, 2017 Debt (1): 213,597 3,285 70,552 48,958 90,802 Principal 173,136 3,251 51,254 37,925 80,706 Interest 40,461 34 19,298 11,033 10,096 Lease obligations: 20,666 11,871 3,851 2,266 2,678 Operating lease 20,666 11,871 3,851 2,266 2,678 Other obligations: 128,618 120,471 5,881 264 2,002 Various trade and other obligations: 128,618 120,471 5,881 264 2,002 Suppliers and contractors 59,776 54,196 5,339 241 — Utilities and related expenses 44,007 43,984 22 1 — Liability from redemption of preferred shares 7,870 7,870 — — — Employee benefits 6,573 6,573 — — — Customers’ deposits 2,443 — 419 22 2,002 Carriers and other customers 2,083 2,083 — — — Dividends 1,575 1,575 — — — Others 4,291 4,190 101 — — Total contractual obligations 362,881 135,627 80,284 51,488 95,482 (1) |
Summary of Future Minimum Lease Commitments Payable with Non-cancellable Operating Leases | Our consolidated future minimum lease commitments payable with non-cancellable operating leases as at December 31, 2018 and 2017 are as follows: 2018 2017 (in million pesos) Within one year 12,867 11,945 After one year but not more than five years 6,542 6,043 More than five years 3,265 2,678 Total 22,674 20,666 |
Summary of Foreign Exchange Forward Contracts | |
Disclosure Of Financial Assets And Liabilities [Line Items] | |
Summary of Impact of Hedging Instruments | The impact of the hedging instruments on our consolidated statements of financial position is, as follows: Notional Amount Carrying Amount Line item in the Consolidated Statement (U.S. Dollar) (Php) of Financial Position (in million pesos) As at December 31, 2018 Long-term currency swaps 46 83 Derivative financial assets - net of current portion 13 Current portion of derivative financial assets As at December 31, 2017 Long-term currency swaps 90 115 Derivative financial assets - net of current portion 125 Current portion of derivative financial assets |
Summary of Impact of Hedging Items on Consolidated Statements of Financial Position | The impact of the hedged items on the consolidated statements of financial position is, as follows: December 31, 2018 December 31, 2017 Cash flow hedge reserve Cost of hedging reserve Cash flow hedge reserve Cost of hedging reserve (in million pesos) PLDT: US$300M Term Loan (273 ) 4 (171 ) 18 US$100M PNB (7 ) — — — US$200M MUFG Bank, Ltd. (3 ) — 1 — (283 ) 4 (170 ) 18 Smart: US$200M Mizuho 7 3 65 7 US$100M Mizuho 43 13 57 2 2013 Chinabank US$80M — — 2 — 50 16 124 9 |
Summary of Effect of the Cash Flow Hedge in Consolidated Income Statements and Statements of Other Comprehensive Income | The effect of the cash flow hedge in the consolidated income statements and statements of other comprehensive income is, as follows: Total hedging loss recognized in OCI Line item in the Consolidated Income Statements (in million pesos) Year Ended December 31, 2018 Long-term currency swaps (234 ) Other comprehensive loss Year Ended December 31, 2017 Long-term currency swaps (46 ) Other comprehensive loss |
Summary of Trade and Other Receivables | The gross carrying amount of financial assets not subject to impairment also represents our maximum exposure to credit risk, as follows: 2018 (in million pesos) Financial assets at fair value through profit or loss 4,763 Derivative financial assets - net of current portion 140 Current portion of derivative financial assets 183 Total 5,086 |
Summary of Maximum Exposure to Credit Risk of Financial Assets Subject to Impairment | For financial assets recognized on the balance sheet, the gross exposure credit risk equalts their carrying amount. 2018 2017 Stage 1 Lifetime ECL Stage 2 Lifetime ECL Stage 3 Lifetime ECL Total Total (in million pesos) (in million pesos) High grade 58,299 8,776 — 67,075 83,259 Standard grade 1,470 7,881 — 9,351 9,933 Substarndard grade 3 7,399 — 7,402 11,028 Default 236 1,595 14,908 16,739 14,723 Gross carrying amount 60,008 25,651 14,908 100,567 118,943 Less allowance 236 1,595 14,908 16,739 14,723 Carrying amount 59,772 24,056 — 83,828 104,220 |
Summary of Maximum Exposure to Credit Risk | An analysis of the maximum exposure to credit risk for the components of our consolidated statements of financial position, including derivative financial instruments as at December 31, 2018 and 2017: 2018 Gross Maximum Exposure Collateral and Other Credit Enhancements* Net Maximum Exposure (in million pesos) Financial instruments at amortized cost: Other financial assets 2,450 — 2,450 Debt instruments at amortized cost 150 — 150 Cash and cash equivalents 51,654 187 51,467 Short-term investments 1,165 — 1,165 Retail subscribers 9,620 55 9,565 Corporate subscribers 6,564 273 6,291 Foreign administrations 3,306 — 3,306 Domestic carriers 193 — 193 Dealers, agents and others 4,373 1 4,372 Financial instruments at FVPL: Other financial assets 6,833 — 6,833 Financial assets at fair value through profit or loss 4,763 — 4,763 Interest rate swap 227 — 227 Long-term currency swap 83 — 83 Currency swap 13 — 13 Financial assets at FVOCI: Debt instruments at fair value through profit or loss 4,353 — 4,353 Total 95,747 516 95,231 * 2017 Gross Maximum Exposure Collateral and Other Credit Enhancements* Net Maximum Exposure (in million pesos) Loans and receivables: Advances and other noncurrent assets 20,679 — 20,679 Cash and cash equivalents 32,905 235 32,670 Short-term investments 1,074 — 1,074 Investment in debt securities and other long-term investments 100 — 100 Retail subscribers 9,183 48 9,135 Corporate subscribers 6,337 220 6,117 Foreign administrations 5,579 — 5,579 Domestic carriers 382 — 382 Dealers, agents and others 12,280 1 12,279 HTM investments: Investment in debt securities and other long-term investments 150 — 150 Available-for-sale financial investments 15,165 — 15,165 Derivatives used for hedging: Long-term currency swap 240 — 240 Interest rate swap 146 — 146 Total 104,220 504 103,716 * Includes bank insurance, security deposits and customer deposits. We have no collateral held as at December 31, 2017. |
Summary of Information Regarding Credit Quality by Class of Financial Assets | The table below provides information regarding the credit quality by class of our financial assets according to our credit ratings of counterparties as at December 31, 2018 and 2017: Neither past due nor credit impaired Past due but not Total Class A (1) Class B (2) credit impaired Impaired (in million pesos) December 31, 2018 Financial instruments at amortized cost: 96,214 62,722 9,351 7,402 16,739 Other financial assets 2,686 1,221 1,226 3 236 Debt instruments at amortized cost 150 150 — — — Cash and cash equivalents 51,654 51,410 244 — — Short-term investments 1,165 1,165 — — — Retail subscribers 19,444 4,125 3,577 1,918 9,824 Corporate subscribers 11,073 2,806 1,519 2,239 4,509 Foreign administrations 4,225 593 850 1,863 919 Domestic carriers 270 29 49 115 77 Dealers, agents and others 5,547 1,223 1,886 1,264 1,174 Financial instruments at FVPL: 11,919 11,806 113 — — Other financial assets 6,833 6,833 — — — Financial assets at fair value through profit or loss 4,763 4,650 113 — — Interest rate swap 227 227 — — — Long-term currency swap 83 83 — — — Currency swap 13 13 — — — Financial assets at FVOCI: 4,353 4,353 — — — Debt instruments at fair value through other comprehensive income 4,353 4,353 — — — Total 112,486 78,881 9,464 7,402 16,739 ( 1) (2) Neither past due nor impaired Past due but not Total Class A (1) Class B (2) impaired Impaired (in million pesos) December 31, 2017 Loans and receivables: 103,242 67,644 9,847 11,028 14,723 Advances and other noncurrent assets 20,901 19,202 1,474 3 222 Cash and cash equivalents 32,905 32,705 200 — — Short-term investments 1,074 1,074 — — — Investment in debt securities and other long-term investments 100 100 — — — Retail subscribers 17,961 2,984 4,919 1,280 8,778 Corporate subscribers 9,641 2,035 2,233 2,069 3,304 Foreign administrations 6,517 838 872 3,869 938 Domestic carriers 457 76 73 233 75 Dealers, agents and others 13,686 8,630 76 3,574 1,406 HTM investments: 150 150 — — — Investment in debt securities and other long-term investments 150 150 — — — Available-for-sale financial investments 15,165 15,079 86 — — Derivatives used for hedging: 386 386 — — — Long-term currency swap 240 240 — — — Interest rate swap 146 146 — — — Total 118,943 83,259 9,933 11,028 14,723 (1) (2) |
Summary of Aging Analysis of Past Due But not Impaired Class of Financial Assets | The aging analysis of past due but not impaired class of financial assets as at December 31, 2018 and 2017 are as follows: Past due but not credit impaired Total Neither past due nor credit impaired 1-60 days 61-90 days Over 91 days Impaired (in million pesos) December 31, 2018 Financial assets at amortized cost: 96,214 72,073 3,262 398 3,742 16,739 Other financial assets 2,686 2,447 — — 3 236 Debt instruments at amortized cost 150 150 — — — — Cash and cash equivalents 51,654 51,654 — — — — Short-term investments 1,165 1,165 — — — — Retail subscribers 19,444 7,702 1,747 62 109 9,824 Corporate subscribers 11,073 4,325 957 101 1,181 4,509 Foreign administrations 4,225 1,443 139 131 1,593 919 Domestic carriers 270 78 52 21 42 77 Dealers, agents and others 5,547 3,109 367 83 814 1,174 Financial instruments at FVPL: 11,919 11,919 — — — — Other financial assets 6,833 6,833 — — — — Financial assets at fair value through profit or loss 4,763 4,763 — — — — Interest rate swap 227 227 — — Long-term currency swap 83 83 — — — — Currency swap 13 13 — — — — Financial assets at FVOCI: 4,353 4,353 — — — — Debt instruments at fair value through other comprehensive income 4,353 4,353 — — — — Total 112,486 88,345 3,262 398 3,742 16,739 December 31, 2017 Loans and receivables: 103,242 77,491 3,261 703 7,064 14,723 Advances and other noncurrent assets 20,901 20,676 — — 3 222 Cash and cash equivalents 32,905 32,905 — — — — Short-term investments 1,074 1,074 — — — — Investment in debt securities and other long-term investments 100 100 — — — — Retail subscribers 17,961 7,903 927 20 333 8,778 Corporate subscribers 9,641 4,268 724 267 1,078 3,304 Foreign administrations 6,517 1,710 646 217 3,006 938 Domestic carriers 457 149 84 53 96 75 Dealers, agents and others 13,686 8,706 880 146 2,548 1,406 HTM investments: 150 150 — — — — Investment in debt securities and other long-term investments 150 150 — — — — Available-for-sale financial investments 15,165 15,165 — — — — Derivatives used for hedging: 386 386 — — — — Long-term currency swap 240 240 — — — — Interest rate swap 146 146 — — — — Total 118,943 93,192 3,261 703 7,064 14,723 |
Foreign currency exchange risk [Member] | |
Disclosure Of Financial Assets And Liabilities [Line Items] | |
Summary of Market Risk | The following table shows our consolidated foreign currency-denominated monetary financial assets and liabilities and their Philippine peso equivalents as at December 31, 2018 and 2017: 2018 2017 U.S. Dollar Php (1) U.S. Dollar Php (2) (in millions) Noncurrent Financial Assets Derivative financial assets – net of current portion 3 140 4 215 Other financial assets – net of current portion — 12 — 2 Total noncurrent financial assets 3 152 4 217 Current Financial Assets Cash and cash equivalents 717 37,688 440 21,988 Short-term investments 22 1,138 2 75 Trade and other receivables – net 261 13,741 218 10,893 Current portion of derivative financial assets 3 183 3 171 Current portion of investment in debt securities and other long-term investments — — 2 100 Current portion of other financial assets — 11 — 9 Total current financial assets 1,003 52,761 665 33,236 Total Financial Assets 1,006 52,913 669 33,453 Noncurrent Financial Liabilities Interest-bearing financial liabilities – net of current portion 336 17,668 446 22,285 Derivative financial liabilities – net of current portion — — — 8 Other noncurrent liabilities — 12 — 11 Total noncurrent financial liabilities 336 17,680 446 22,304 Current Financial Liabilities Accounts payable 415 21,797 233 11,670 Accrued expenses and other current liabilities 170 8,961 166 8,314 Current portion of interest-bearing financial liabilities 110 5,780 259 12,922 Current portion of derivative financial liabilities 2 80 3 141 Total current financial liabilities 697 36,618 661 33,047 Total Financial Liabilities 1,033 54,298 1,107 55,351 (1) (2) |
Interest rate risk [member] | |
Disclosure Of Financial Assets And Liabilities [Line Items] | |
Summary of Impact of Hedging Instruments | The impact of the hedging instruments on our consolidated statements of financial position is, as follows: Notional Amount Carrying Amount Line item in the Consolidated Statement (U.S. Dollar) (Php) of Financial Position (in million pesos) As at December 31, 2018 Interest rate swaps 323 57 Derivative financial assets - net of current portion 170 Current portion of derivative financial assets 323 227 As at December 31, 2017 Interest rate swaps 525 101 Derivative financial assets - net of current portion 45 Current portion of derivative financial assets (24 ) Current portion of derivative financial assets 525 122 |
Summary of Impact of Hedging Items on Consolidated Statements of Financial Position | The impact of the hedged items on the consolidated statements of financial position is, as follows: December 31, 2018 December 31, 2017 Cash flow hedge reserve Cost of hedging reserve Cash flow hedge reserve Cost of hedging reserve (in million pesos) PLDT: US$100M PNB 50 — 9 — US$50M MBTC 24 — 1 — US$200M MUFG Bank, Ltd. 55 — 34 — 129 — 44 — Smart: 2014 BTMU US$100M (6 ) — — — 2014 Mizuho US$50M (2 ) — 3 — 2015 Mizuho US$200M (11 ) — 8 — 2015 Mizuho US$100M — — 1 — 2013 Sumitomo US$120M (3 ) — (6 ) — 2013 BTMU US$50M — — (1 ) — (22 ) — 5 — |
Summary of Effect of the Cash Flow Hedge in Consolidated Income Statements and Statements of Other Comprehensive Income | The effect of the cash flow hedge in the consolidated income statements and statements of other comprehensive income is, as follows: Total hedging loss recognized in OCI Line item in the Consolidated Income Statements (in million pesos) Year Ended December 31, 2018 Interest rate swaps 179 Other comprehensive loss Year Ended December 31, 2017 Interest rate swaps 169 Other comprehensive loss |
Summary of Market Risk | The following tables set out the carrying amounts, by maturity, of our financial instruments that are expected to have exposure on interest rate risk as at December 31, 2018 and 2017. Financial instruments that are not subject to interest rate risk were not included in the table. As at December 31, 2018 In U.S. Dollars Discount/ Fair Value Below 1 year 1-2 years 2-3 years 3-5 years Over 5 years Total In Php Debt Issuance Cost In Php Carrying Value In Php In U.S. Dollar In Php (in millions) Assets: Debt Instruments at Amortized Cost U.S. Dollar — — — — — — — — — — — Interest rate — — — — — — — — — — — Philippine Peso — 3 — — — 3 150 — 150 3 148 Interest rate — 4.8371 % — — — — — — — — — Cash in Bank U.S. Dollar 30 — — — — 30 1,580 — 1,580 30 1,580 Interest rate 0.0100% to 0.2500% — — — — — — — — — — Philippine Peso 57 — — — — 57 3,017 — 3,017 57 3,017 Interest rate 0.05000% to 1.2500% — — — — — — — — — — Other Currencies — — — — — — 4 — 4 — 4 Interest rate 0.1000% to 0.5000% — — — — — — — — — — Temporary Cash Investments U.S. Dollar 675 — — — — 675 35,467 — 35,467 675 35,467 Interest rate 2.7000% to 3.0000% — — — — — — — — — — Philippine Peso 194 — — — — 194 10,204 — 10,204 194 10,204 Interest rate 0.2500% to 7.0500% — — — — — — — — — — Other Currencies — — — — — — — — — — — Interest rate 0.0750% — — — — — — — — — — Short-term Investments U.S. Dollar 22 — — — — 22 1,138 — 1,138 22 1,138 Interest rate 2.5000% to 3.0000% — — — — — — — — — — Philippine Peso 1 — — — — 1 27 — 27 1 27 Interest rate 3.5000% — — — — — — — — — — Other Currencies — — — — — — — — — — — Interest rate 0.0750% — — — — — — — — — — 979 3 — — — 982 51,587 — 51,587 982 51,585 Liabilities: Long-term Debt Fixed Rate U.S. Dollar Fixed Loans 2 15 7 4 — 28 1,483 1 1,482 28 1,502 Interest rate 1.4100 % 2.8850 % 2.8850% 2.8850 % — — — — — — — Philippine Peso 234 123 319 730 1,232 2,638 138,637 278 138,359 2,319 121,868 Interest rate 4.9110% to 5.6038% 3.9000% to 6.7339% 3.9000% to 6.7339% 3.9000% to 6.7339% 4.2500% to 6.7339% — — — — — — Variable Rate U.S. Dollar Loans 17 286 38 52 25 418 21,964 94 21,870 418 21,965 Interest rate 0.9500% to 1.1000% over LIBOR 0.7900% to 1.4500% over LIBOR 0.7900% to 0.9500% over LIBOR 0.7900% to 1.0500% over LIBOR 1.0500% over LIBOR — — — — — — Philippine Peso — 94 64 2 118 278 14,610 45 14,565 278 14,610 Interest rate * — 0.5000% to 1.0000% over PHP BVAL 0.5000% to 1.0000% over PHP BVAL 0.5000% to 0.6000% over PHP BVAL 0.5000% to 0.6000% over PHP BVAL — — — — — — 253 518 428 788 1,375 3,362 176,694 418 176,276 3,043 159,945 * As at December 31, 2017 In U.S. Dollars Discount/ Fair Value Below 1 year 1-2 years 2-3 years 3-5 years Over 5 years Total In Php Debt Issuance Cost In Php Carrying Value In Php In U.S. Dollar In Php (in millions) Assets: Investment in Debt Securities and Other Long-term Investments U.S. Dollar 2 — — — — 2 100 — 100 2 100 Interest rate 3.5000 % — — — — — — — — — — Philippine Peso — — 3 — — 3 150 — 150 3 151 Interest rate — — 4.8371 % — — — — — — — — Cash in Bank U.S. Dollar 29 — — — — 29 1,465 — 1,465 29 1,465 Interest rate 0.0100% to 0.2500% — — — — — — — — — — Philippine Peso 89 — — — — 89 4,468 — 4,468 89 4,468 Interest rate 0.05000% to 1.2500% — — — — — — — — — — Other Currencies — — — — — — 9 — 9 — 9 Interest rate 0.1000% to 0.5000% — — — — — — — — — — Temporary Cash Investments U.S. Dollar 402 — — — — 402 20,063 — 20,063 402 20,063 Interest rate 0.2500% to 2.1000% — — — — — — — — — — Philippine Peso 130 — — — — 130 6,491 — 6,491 130 6,491 Interest rate 0.1250% to 4.3250% — — — — — — — — — — Short-term Investments U.S. Dollar 22 — — — — 22 1,074 — 1,074 22 1,074 Interest rate 2.1000 % — — — — — — — — — — Philippine Peso — — — — — — — — — — — Interest rate — — — — — — — — — — — 674 — 3 — — 677 33,820 — 33,820 677 33,821 Liabilities: Long-term Debt Fixed Rate U.S. Dollar Fixed Loans 5 37 8 11 — 61 3,050 6 3,044 62 3,104 Interest rate 1.4100 % 1.4100% to 2.8850% 2. 8850% 2.8850 % — — — — — — — Philippine Peso — 333 81 618 1,565 2,597 129,733 335 129,398 2,450 122,418 Interest rate — 3.9000% to 6.4044% 3.9000% to 6.4044% 3.9000% to 6.4044% 3.9000% to 6.4044% — — — — — — Variable Rate U.S. Dollar 60 266 203 65 50 644 32,158 170 31,988 644 32,158 Interest rate 1.2000% to 1.6000% over LIBOR US$LIBOR + 0.7900% to 1.4500% US$LIBOR + 0.7900% to 1.4500% US$LIBOR + 0.7900% to 0.9500% US$LIBOR + 1.0500% — — — — — — Philippine Peso — 3 95 66 — 164 8,195 14 8,181 164 8,195 Interest rate — 1.0000% over PDST-R2 1.0000% over PDST-R2 1.0000% over PDST-R2 — — — — — — — 65 639 387 760 1,615 3,466 173,136 525 172,611 3,320 165,875 |
Notes to the Statement of Cas_2
Notes to the Statement of Cash Flows (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Reconciliation Of Liabilities Arising From Financing Activities [Abstract] | |
Summary of Changes in Liabilities Arising From Financing Activities | The following table shows the changes in liabilities arising from financing activities: Foreign exchange 2017 Cash flows movement Others 2018 (in million pesos) Interest-bearing financial liabilities (Note 20) 172,611 1,722 1,723 220 176,276 Long-term financing for capital expenditures (Note 21) 5,580 — — (2,615 ) 2,965 Accrued dividends and other related costs 1,176 (6,614 ) — 6,785 1,347 Dividends 1,575 (13,928 ) — 13,886 1,533 180,942 (18,820 ) 1,723 18,276 182,121 Foreign exchange 2016 Cash flows movement Others 2017 (in million pesos) Interest-bearing financial liabilities (Note 20) 185,032 (13,097 ) 417 259 172,611 Long-term financing for capital expenditures (Note 21) 13,673 (7,735 ) — (358 ) 5,580 Accrued interests and other related costs 1,412 (7,076 ) — 6,840 1,176 Dividends 1,544 (16,617 ) — 16,648 1,575 201,661 (44,525 ) 417 23,389 180,942 |
Corporate Information - Additio
Corporate Information - Additional Information (Detail) ₱ / shares in Units, shares in Thousands, ₱ in Millions | Oct. 16, 2012PHP (₱)₱ / sharesshares | Nov. 30, 2011shares | Mar. 14, 2006 | Mar. 24, 2000 | Dec. 31, 2018PHP (₱)₱ / sharesshares | Dec. 31, 2017PHP (₱)shares | Jun. 05, 2012₱ / shares | Oct. 26, 2011 | Feb. 28, 2007 |
Voting Preferred Stock [Member] | |||||||||
Disclosure Of Corporate Information [Line Items] | |||||||||
Number of shares issued | 150,000 | 150,000 | |||||||
Par value | ₱ / shares | ₱ 1 | ||||||||
Subscription amount | ₱ | ₱ 150 | ₱ 150 | |||||||
Amount of shares outstanding | 150,000 | 150,000 | |||||||
American Depositary Shares [Member] | |||||||||
Disclosure Of Corporate Information [Line Items] | |||||||||
Par value | ₱ / shares | ₱ 5 | ||||||||
Amount of shares outstanding | 25,700 | ||||||||
Digital Telecommunications Phils., Inc. [Member] | |||||||||
Disclosure Of Corporate Information [Line Items] | |||||||||
Common shares issued | 0.277 | ||||||||
Smart Communications, Inc. [Member] | |||||||||
Disclosure Of Corporate Information [Line Items] | |||||||||
Percentage of Ownership | 100.00% | ||||||||
NTT Communications Corporation [Member] | |||||||||
Disclosure Of Corporate Information [Line Items] | |||||||||
Percentage of economic and voting interest held by strategic partner | 15.00% | ||||||||
NTT DOCOMO, Inc. [Member] | |||||||||
Disclosure Of Corporate Information [Line Items] | |||||||||
Percentage of economic and voting interest held by strategic partner | 7.00% | ||||||||
Shares sold | 4,560 | ||||||||
NTT Communications and NTT Docomo [Member] | |||||||||
Disclosure Of Corporate Information [Line Items] | |||||||||
Percentage of economic and voting interest held by strategic partner | 20.00% | ||||||||
Philippine Telecommunications Investment Corporation [Member] | |||||||||
Disclosure Of Corporate Information [Line Items] | |||||||||
Percentage of interest in entity from shareholders acquired | 6.00% | ||||||||
Philippine Telecommunications Investment Corporation [Member] | Metro Pacific Asset Holdings, Inc. [Member] | |||||||||
Disclosure Of Corporate Information [Line Items] | |||||||||
Percentage of interest in entity from shareholders | 46.00% | ||||||||
First Pacific Group and Philippine Affiliates [Member] | |||||||||
Disclosure Of Corporate Information [Line Items] | |||||||||
Percentage of interest in entity from shareholders | 26.00% | 28.00% | |||||||
First Pacific Group and Philippine Affiliates [Member] | Voting Preferred Stock [Member] | |||||||||
Disclosure Of Corporate Information [Line Items] | |||||||||
Percentage of interest in entity from shareholders | 15.00% | ||||||||
Percentage of economic and voting interest held by strategic partner | 15.00% | ||||||||
First Pacific Group [Member] | |||||||||
Disclosure Of Corporate Information [Line Items] | |||||||||
Beneficial ownership decrease percentage | 2.00% | ||||||||
First Pacific Group [Member] | Digital Telecommunications Phils., Inc. [Member] | |||||||||
Disclosure Of Corporate Information [Line Items] | |||||||||
Shares sold | 5,810 | ||||||||
JG Summit Group [Member] | |||||||||
Disclosure Of Corporate Information [Line Items] | |||||||||
Percentage of interest in entity from shareholders | 8.00% | ||||||||
JG Summit Group [Member] | Voting Preferred Stock [Member] | |||||||||
Disclosure Of Corporate Information [Line Items] | |||||||||
Percentage of interest in entity from shareholders | 5.00% | ||||||||
Percentage of economic and voting interest held by strategic partner | 5.00% | ||||||||
Beneficial Trust Fund Holdings Inc. [Member] | Voting Preferred Stock [Member] | |||||||||
Disclosure Of Corporate Information [Line Items] | |||||||||
Number of shares issued | 150,000 | ||||||||
Par value | ₱ / shares | ₱ 1 | ||||||||
Subscription amount | ₱ | ₱ 150 | ||||||||
NTT Group [Member] | Voting Preferred Stock [Member] | |||||||||
Disclosure Of Corporate Information [Line Items] | |||||||||
Percentage of economic and voting interest held by strategic partner | 12.00% | 12.00% |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies - Summary of Subsidiaries (Detail) | Dec. 10, 2018 | Nov. 28, 2018 | Aug. 07, 2018 | Mar. 05, 2018 | Mar. 24, 2000 | Dec. 31, 2018 | Dec. 31, 2017 |
Smart Communications, Inc. [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Percentage of Ownership | 100.00% | ||||||
Smart Communications, Inc. [Member] | Operating Segments [Member] | Wireless [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Place of Incorporation | Philippines | ||||||
Principal Business Activity | Cellular mobile services | ||||||
Smart Communications, Inc. [Member] | Operating Segments [Member] | Wireless [Member] | Direct [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Percentage of Ownership | 100.00% | 100.00% | |||||
Smart Broadband, Inc. and Subsidiary [Member] | Operating Segments [Member] | Wireless [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Place of Incorporation | Philippines | ||||||
Principal Business Activity | Internet broadband distribution services | ||||||
Smart Broadband, Inc. and Subsidiary [Member] | Operating Segments [Member] | Wireless [Member] | Indirect [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Percentage of Ownership | 100.00% | 100.00% | |||||
Primeworld Digital Systems, Inc. [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Percentage of Ownership | 95.00% | 67.00% | |||||
Primeworld Digital Systems, Inc. [Member] | Operating Segments [Member] | Wireless [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Place of Incorporation | Philippines | ||||||
Principal Business Activity | Internet broadband distribution services | ||||||
Primeworld Digital Systems, Inc. [Member] | Operating Segments [Member] | Wireless [Member] | Indirect [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Percentage of Ownership | 100.00% | 100.00% | |||||
I-Contacts Corporation [Member] | Operating Segments [Member] | Wireless [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Place of Incorporation | Philippines | ||||||
Principal Business Activity | Operations support servicing business | ||||||
I-Contacts Corporation [Member] | Operating Segments [Member] | Wireless [Member] | Indirect [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Percentage of Ownership | 100.00% | 100.00% | |||||
Smart Money Holdings Corporation | Operating Segments [Member] | Wireless [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Place of Incorporation | Cayman Islands | ||||||
Principal Business Activity | Investment company | ||||||
Smart Money Holdings Corporation | Operating Segments [Member] | Wireless [Member] | Indirect [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Percentage of Ownership | 100.00% | 100.00% | |||||
Far East Capital Limited And Subsidiary | Operating Segments [Member] | Wireless [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Place of Incorporation | Cayman Islands | ||||||
Principal Business Activity | Cost effective offshore financing and risk management activities for Smart | ||||||
Far East Capital Limited And Subsidiary | Operating Segments [Member] | Wireless [Member] | Indirect [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Percentage of Ownership | 100.00% | 100.00% | |||||
PH Communications Holdings Corporation [Member] | Operating Segments [Member] | Wireless [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Place of Incorporation | Philippines | ||||||
Principal Business Activity | Investment company | ||||||
PH Communications Holdings Corporation [Member] | Operating Segments [Member] | Wireless [Member] | Indirect [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Percentage of Ownership | 100.00% | 100.00% | |||||
Connectivity Unlimited Resource Enterprise [Member] | Operating Segments [Member] | Wireless [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Place of Incorporation | Philippines | ||||||
Principal Business Activity | Cellular mobile services | ||||||
Connectivity Unlimited Resource Enterprise [Member] | Operating Segments [Member] | Wireless [Member] | Indirect [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Percentage of Ownership | 100.00% | 100.00% | |||||
Francom Holdings, Inc. [Member] | Operating Segments [Member] | Wireless [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Place of Incorporation | Philippines | ||||||
Principal Business Activity | Investment company | ||||||
Francom Holdings, Inc. [Member] | Operating Segments [Member] | Wireless [Member] | Indirect [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Percentage of Ownership | 100.00% | 100.00% | |||||
Chikka Holdings Limited And Subsidiaries | Operating Segments [Member] | Wireless [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Place of Incorporation | British Virgin Islands | ||||||
Principal Business Activity | Content provider, mobile applications development and services | ||||||
Chikka Holdings Limited And Subsidiaries | Operating Segments [Member] | Wireless [Member] | Indirect [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Percentage of Ownership | 100.00% | 100.00% | |||||
Wifun, Inc. [Member] | Operating Segments [Member] | Wireless [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Place of Incorporation | Philippines | ||||||
Principal Business Activity | Software developer and selling of WiFi access equipment | ||||||
Wifun, Inc. [Member] | Operating Segments [Member] | Wireless [Member] | Indirect [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Percentage of Ownership | 100.00% | 100.00% | |||||
Telesat, Inc. [Member] | Operating Segments [Member] | Wireless [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Place of Incorporation | Philippines | ||||||
Principal Business Activity | Satellite communications services | ||||||
Telesat, Inc. [Member] | Operating Segments [Member] | Wireless [Member] | Direct [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Percentage of Ownership | 100.00% | 100.00% | |||||
ACeS Philippines Cellular Satellite Corporation [Member] | Operating Segments [Member] | Wireless [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Place of Incorporation | Philippines | ||||||
Principal Business Activity | Satellite information and messaging services | ||||||
ACeS Philippines Cellular Satellite Corporation [Member] | Operating Segments [Member] | Wireless [Member] | Direct [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Percentage of Ownership | 88.50% | 88.50% | |||||
ACeS Philippines Cellular Satellite Corporation [Member] | Operating Segments [Member] | Wireless [Member] | Indirect [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Percentage of Ownership | 11.50% | 11.50% | |||||
Digitel Mobile Philippines, Inc. [Member] | Operating Segments [Member] | Wireless [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Place of Incorporation | Philippines | ||||||
Principal Business Activity | Cellular mobile services | ||||||
Digitel Mobile Philippines, Inc. [Member] | Operating Segments [Member] | Wireless [Member] | Indirect [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Percentage of Ownership | 99.60% | 99.60% | |||||
PLDT Clark Telecom, Inc. [Member] | Operating Segments [Member] | Fixed Line [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Place of Incorporation | Philippines | ||||||
Principal Business Activity | Telecommunications services | ||||||
PLDT Clark Telecom, Inc. [Member] | Operating Segments [Member] | Fixed Line [Member] | Direct [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Percentage of Ownership | 100.00% | 100.00% | |||||
PLDT Subic Telecom, Inc. [Member] | Operating Segments [Member] | Fixed Line [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Place of Incorporation | Philippines | ||||||
Principal Business Activity | Telecommunications services | ||||||
PLDT Subic Telecom, Inc. [Member] | Operating Segments [Member] | Fixed Line [Member] | Direct [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Percentage of Ownership | 100.00% | 100.00% | |||||
PLDT Global Corporation and Subsidiaries [Member] | Operating Segments [Member] | Fixed Line [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Place of Incorporation | British Virgin Islands | ||||||
Principal Business Activity | Telecommunications services | ||||||
PLDT Global Corporation and Subsidiaries [Member] | Operating Segments [Member] | Fixed Line [Member] | Direct [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Percentage of Ownership | 100.00% | 100.00% | |||||
Smart-NTT Multimedia, Inc. [Member] | Operating Segments [Member] | Fixed Line [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Place of Incorporation | Philippines | ||||||
Principal Business Activity | Data and network services | ||||||
Smart-NTT Multimedia, Inc. [Member] | Operating Segments [Member] | Fixed Line [Member] | Direct [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Percentage of Ownership | 100.00% | 100.00% | |||||
PLDT-Philcom, Inc. and Subsidiaries [Member] | Operating Segments [Member] | Fixed Line [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Place of Incorporation | Philippines | ||||||
Principal Business Activity | Telecommunications services | ||||||
PLDT-Philcom, Inc. and Subsidiaries [Member] | Operating Segments [Member] | Fixed Line [Member] | Direct [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Percentage of Ownership | 100.00% | 100.00% | |||||
Talas Data Intelligence, Inc. [Member] | Operating Segments [Member] | Fixed Line [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Place of Incorporation | Philippines | ||||||
Principal Business Activity | Business infrastructure and solutions; intelligent data processing and implementation services and data analytics insight generation | ||||||
Talas Data Intelligence, Inc. [Member] | Operating Segments [Member] | Fixed Line [Member] | Direct [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Percentage of Ownership | 100.00% | 100.00% | |||||
ePLDT, Inc. [Member] | Operating Segments [Member] | Fixed Line [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Place of Incorporation | Philippines | ||||||
Principal Business Activity | Information and communications infrastructure for internet-based services, e-commerce, customer relationship management and IT related services | ||||||
ePLDT, Inc. [Member] | Operating Segments [Member] | Fixed Line [Member] | Direct [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Percentage of Ownership | 100.00% | 100.00% | |||||
IP Converge Data Services, Inc. and Subsidiary [Member] | Operating Segments [Member] | Fixed Line [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Place of Incorporation | Philippines | ||||||
Principal Business Activity | Information and communications infrastructure for internet-based services, e-commerce, customer relationship management and IT related services | ||||||
IP Converge Data Services, Inc. and Subsidiary [Member] | Operating Segments [Member] | Fixed Line [Member] | Indirect [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Percentage of Ownership | 100.00% | 100.00% | |||||
Curo Teknika, Inc. [Member] | Operating Segments [Member] | Fixed Line [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Place of Incorporation | Philippines | ||||||
Principal Business Activity | Managed IT outsourcing | ||||||
Curo Teknika, Inc. [Member] | Operating Segments [Member] | Fixed Line [Member] | Indirect [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Percentage of Ownership | 100.00% | 100.00% | |||||
ABM Global Solutions, Inc. and Subsidiaries [Member] | Operating Segments [Member] | Fixed Line [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Place of Incorporation | Philippines | ||||||
Principal Business Activity | Internet-based purchasing, IT consulting and professional services | ||||||
ABM Global Solutions, Inc. and Subsidiaries [Member] | Operating Segments [Member] | Fixed Line [Member] | Indirect [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Percentage of Ownership | 100.00% | 100.00% | |||||
ePDS, Inc. [Member] | Operating Segments [Member] | Fixed Line [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Place of Incorporation | Philippines | ||||||
Principal Business Activity | Bills printing and other related value-added services, or VAS | ||||||
ePDS, Inc. [Member] | Operating Segments [Member] | Fixed Line [Member] | Indirect [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Percentage of Ownership | 95.00% | 67.00% | |||||
Net Games Inc | Operating Segments [Member] | Fixed Line [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Place of Incorporation | Philippines | ||||||
Principal Business Activity | Gaming support services | ||||||
Net Games Inc | Operating Segments [Member] | Fixed Line [Member] | Indirect [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Percentage of Ownership | 57.50% | 57.50% | |||||
MVP Rewards Loyalty Solutions, Inc [Member] | Operating Segments [Member] | Fixed Line [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Place of Incorporation | Philippines | ||||||
Principal Business Activity | Full-services customer rewards and loyalty programs | ||||||
MVP Rewards Loyalty Solutions, Inc [Member] | Operating Segments [Member] | Fixed Line [Member] | Indirect [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Percentage of Ownership | 100.00% | ||||||
Digital Telecommunications Phils., Inc. [Member] | Operating Segments [Member] | Fixed Line [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Place of Incorporation | Philippines | ||||||
Principal Business Activity | Telecommunications services | ||||||
Digital Telecommunications Phils., Inc. [Member] | Operating Segments [Member] | Fixed Line [Member] | Direct [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Percentage of Ownership | 99.60% | 99.60% | |||||
Digitel Information Technology Services, Inc. [Member] | Operating Segments [Member] | Fixed Line [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Place of Incorporation | Philippines | ||||||
Principal Business Activity | Internet services | ||||||
Digitel Information Technology Services, Inc. [Member] | Operating Segments [Member] | Fixed Line [Member] | Indirect [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Percentage of Ownership | 99.60% | 99.60% | |||||
PLDT-Maratel, Inc. [Member] | Operating Segments [Member] | Fixed Line [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Place of Incorporation | Philippines | ||||||
Principal Business Activity | Telecommunications services | ||||||
PLDT-Maratel, Inc. [Member] | Operating Segments [Member] | Fixed Line [Member] | Direct [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Percentage of Ownership | 98.00% | 98.00% | |||||
Bonifacio Communications Corporation [Member] | Operating Segments [Member] | Fixed Line [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Place of Incorporation | Philippines | ||||||
Principal Business Activity | Telecommunications, infrastructure and related VAS | ||||||
Bonifacio Communications Corporation [Member] | Operating Segments [Member] | Fixed Line [Member] | Direct [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Percentage of Ownership | 75.00% | 75.00% | |||||
Pacific Global One Aviation Company, Inc. [Member] | Operating Segments [Member] | Fixed Line [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Place of Incorporation | Philippines | ||||||
Principal Business Activity | Air transportation business | ||||||
Pacific Global One Aviation Company, Inc. [Member] | Operating Segments [Member] | Fixed Line [Member] | Direct [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Percentage of Ownership | 65.00% | 65.00% | |||||
Pilipinas Global Network Limited and Subsidiaries [Member] | Operating Segments [Member] | Fixed Line [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Place of Incorporation | British Virgin Islands | ||||||
Principal Business Activity | Internal distributor of Filipino channels and content | ||||||
Pilipinas Global Network Limited and Subsidiaries [Member] | Operating Segments [Member] | Fixed Line [Member] | Direct [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Percentage of Ownership | 64.60% | 64.60% | |||||
PLDT Global Investments Holdings, Inc. [Member] | Operating Segments [Member] | Others [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Place of Incorporation | Philippines | ||||||
Principal Business Activity | Investment company | ||||||
PLDT Global Investments Holdings, Inc. [Member] | Operating Segments [Member] | Others [Member] | Direct [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Percentage of Ownership | 100.00% | 100.00% | |||||
PLDT Digital Investments Pte. Ltd. and Subsidiaries [Member] | Operating Segments [Member] | Others [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Place of Incorporation | Singapore | ||||||
Principal Business Activity | Investment company | ||||||
PLDT Digital Investments Pte. Ltd. and Subsidiaries [Member] | Operating Segments [Member] | Others [Member] | Direct [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Percentage of Ownership | 100.00% | 100.00% | |||||
Mabuhay Investments Corporation, or MIC [Member] | Operating Segments [Member] | Others [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Place of Incorporation | Philippines | ||||||
Principal Business Activity | Investment company | ||||||
Mabuhay Investments Corporation, or MIC [Member] | Operating Segments [Member] | Others [Member] | Direct [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Percentage of Ownership | 67.00% | 67.00% | |||||
PLDT Global Investments Corporation [Member] | Operating Segments [Member] | Others [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Place of Incorporation | British Virgin Islands | ||||||
Principal Business Activity | Investment company | ||||||
PLDT Global Investments Corporation [Member] | Operating Segments [Member] | Others [Member] | Indirect [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Percentage of Ownership | 100.00% | 100.00% | |||||
PLDT Communications and Energy Ventures, Inc. [Member] | Operating Segments [Member] | Others [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Place of Incorporation | Philippines | ||||||
Principal Business Activity | Investment company | ||||||
PLDT Communications and Energy Ventures, Inc. [Member] | Operating Segments [Member] | Others [Member] | Indirect [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Percentage of Ownership | 99.90% | 99.90% | |||||
Voyager Innovations Holdings, Pte. Ltd. [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Percentage of Ownership | 48.74% | 53.87% | |||||
Voyager Innovations Holdings, Pte. Ltd. [Member] | Operating Segments [Member] | Others [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Place of Incorporation | Singapore | ||||||
Principal Business Activity | Investment company | ||||||
Voyager Innovations Holdings, Pte. Ltd. [Member] | Operating Segments [Member] | Others [Member] | Indirect [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Percentage of Ownership | 100.00% | ||||||
Voyager Innovations Investments Pte. Ltd. [Member] | Operating Segments [Member] | Others [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Place of Incorporation | Singapore | ||||||
Principal Business Activity | Investment company | ||||||
Voyager Innovations Investments Pte. Ltd. [Member] | Operating Segments [Member] | Others [Member] | Indirect [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Percentage of Ownership | 100.00% | ||||||
Voyager Innovations Singapore Pte. Ltd. [Member] | Operating Segments [Member] | Others [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Place of Incorporation | Singapore | ||||||
Principal Business Activity | Development and maintenance of IT-based solutions for communications and e-Commerce platforms | ||||||
Voyager Innovations Singapore Pte. Ltd. [Member] | Operating Segments [Member] | Others [Member] | Indirect [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Percentage of Ownership | 100.00% | ||||||
Takatack Malaysia Sdn. Bhd. [Member] | Operating Segments [Member] | Others [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Place of Incorporation | Malaysia | ||||||
Principal Business Activity | Development, maintenance and support services to enable the digital commerce ecosystem | ||||||
Takatack Malaysia Sdn. Bhd. [Member] | Operating Segments [Member] | Others [Member] | Indirect [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Percentage of Ownership | 100.00% | ||||||
Voyager Innovations, Inc. [Member] | Operating Segments [Member] | Others [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Place of Incorporation | Philippines | ||||||
Principal Business Activity | Mobile applications and digital platform developer | ||||||
Voyager Innovations, Inc. [Member] | Operating Segments [Member] | Others [Member] | Indirect [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Percentage of Ownership | 100.00% | ||||||
Voyager Innovations Pte. Ltd., or VIP, (Formerly ePay Investments Pte. Ltd) [Member] | Operating Segments [Member] | Others [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Place of Incorporation | Singapore | ||||||
Principal Business Activity | Investment company | ||||||
Voyager Innovations Pte. Ltd., or VIP, (Formerly ePay Investments Pte. Ltd) [Member] | Operating Segments [Member] | Others [Member] | Indirect [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Percentage of Ownership | 100.00% | ||||||
PayMaya Philippines, Inc. or PayMaya [Member] | Operating Segments [Member] | Others [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Place of Incorporation | Philippines | ||||||
Principal Business Activity | Provide and market certain mobile payment services | ||||||
PayMaya Philippines, Inc. or PayMaya [Member] | Operating Segments [Member] | Others [Member] | Indirect [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Percentage of Ownership | 100.00% | ||||||
PayMaya Operations Philippines, Inc., or PayMaya Ops [Member] | Operating Segments [Member] | Others [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Place of Incorporation | Philippines | ||||||
Principal Business Activity | Market, sell and distribute payment solutions and other related services | ||||||
PayMaya Operations Philippines, Inc., or PayMaya Ops [Member] | Operating Segments [Member] | Others [Member] | Indirect [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Percentage of Ownership | 100.00% | ||||||
ePay Investments Myanmar,Ltd., or ePay Myanmer [Member] | Operating Segments [Member] | Others [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Place of Incorporation | Myanmar | ||||||
Principal Business Activity | Investment company | ||||||
ePay Investments Myanmar,Ltd., or ePay Myanmer [Member] | Operating Segments [Member] | Others [Member] | Indirect [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Percentage of Ownership | 100.00% | ||||||
3rd Brand Pte. Ltd., or 3rd Brand [Member] | Operating Segments [Member] | Others [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Place of Incorporation | Singapore | ||||||
Principal Business Activity | Solutions and systems integration services | ||||||
3rd Brand Pte. Ltd., or 3rd Brand [Member] | Operating Segments [Member] | Others [Member] | Indirect [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Percentage of Ownership | 85.00% | ||||||
Voyager Fintech Ventures Pte. Ltd. [Member] | Operating Segments [Member] | Others [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Place of Incorporation | Singapore | ||||||
Principal Business Activity | Investment company | ||||||
Voyager Fintech Ventures Pte. Ltd. [Member] | Operating Segments [Member] | Others [Member] | Indirect [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Percentage of Ownership | 100.00% | ||||||
Fintqnologies Corporation [Member] | Operating Segments [Member] | Others [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Place of Incorporation | Philippines | ||||||
Principal Business Activity | Development of financial technology innovations | ||||||
Fintqnologies Corporation [Member] | Operating Segments [Member] | Others [Member] | Indirect [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Percentage of Ownership | 100.00% | ||||||
Fintq Inventures Insurance Agency Corporation [Member] | Operating Segments [Member] | Others [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Place of Incorporation | Philippines | ||||||
Principal Business Activity | Insurance company | ||||||
Fintq Inventures Insurance Agency Corporation [Member] | Operating Segments [Member] | Others [Member] | Indirect [Member] | |||||||
Disclosure of subsidiaries [Line Items] | |||||||
Percentage of Ownership | 100.00% |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies - Summary of Subsidiaries (Parenthetical) (Detail) ₱ in Millions | Dec. 10, 2018 | Nov. 28, 2018seat | Jan. 15, 2018$ / shares | Sep. 14, 2018PHP (₱) |
MVP Rewards Loyalty Solutions, Inc [Member] | ||||
Disclosure of subsidiaries [Line Items] | ||||
Initial investment | ₱ | ₱ 50 | |||
Voyager Innovations Holdings, Pte. Ltd. [Member] | ||||
Disclosure of subsidiaries [Line Items] | ||||
Percentage of Ownership | 48.74% | 53.87% | ||
Number of board seats | seat | 2 | |||
3rd Brand Pte. Ltd., or 3rd Brand [Member] | Voyager Innovations Holdings, Pte. Ltd. [Member] | ||||
Disclosure of subsidiaries [Line Items] | ||||
Percentage of ownership interest in subsidiary acquired | 15.00% | |||
Consideration for minority interest | $ / shares | $ 1 |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies - Additional Information (Detail) ₱ / shares in Units, $ / shares in Units, shares in Thousands, $ in Millions, $ in Millions | Nov. 28, 2018PHP (₱)seat | Nov. 28, 2018USD ($)seat | Nov. 26, 2018USD ($) | Oct. 04, 2018USD ($) | Sep. 28, 2018 | Aug. 07, 2018PHP (₱) | Jul. 31, 2018PHP (₱) | Apr. 13, 2018PHP (₱) | Apr. 13, 2018SGD ($)$ / sharesshares | Mar. 05, 2018PHP (₱) | Feb. 27, 2018PHP (₱)shares | Jan. 24, 2018USD ($) | Dec. 18, 2017PHP (₱) | Dec. 14, 2017USD ($)$ / sharesshares | Nov. 30, 2017USD ($) | Sep. 26, 2017 | Jun. 13, 2017PHP (₱) | May 30, 2016PHP (₱) | Apr. 15, 2016 | Apr. 14, 2015PHP (₱) | Jun. 24, 2014PHP (₱) | Jun. 30, 2012PHP (₱) | Mar. 24, 2000 | Dec. 31, 2018PHP (₱)seatshares | Nov. 30, 2018PHP (₱) | Dec. 31, 2017PHP (₱)shares | Jul. 18, 2017PHP (₱) | May 30, 2017PHP (₱)₱ / sharesshares | May 29, 2017PHP (₱)₱ / sharesshares | Mar. 31, 2017PHP (₱) | Mar. 06, 2017PHP (₱) | Mar. 03, 2017PHP (₱) | Feb. 28, 2017PHP (₱) | Jan. 31, 2017PHP (₱) | May 13, 2016PHP (₱) | Jun. 09, 2015PHP (₱) | May 28, 2015PHP (₱) | Oct. 26, 2011 |
Disclosure Of Significant Accounting Policies [Line Items] | ||||||||||||||||||||||||||||||||||||||
Consideration paid (received) | ₱ 1,152,000,000 | ₱ 1,294,000,000 | ₱ 21,800,000,000 | ₱ 26,200,000,000 | ₱ 26,487,000,000 | ₱ 13,243,000,000 | ||||||||||||||||||||||||||||||||
Managed transformation agreement, Term | 7 years | |||||||||||||||||||||||||||||||||||||
Investment in associate | ₱ 20,498,000,000 | ₱ 12,041,000,000 | ||||||||||||||||||||||||||||||||||||
ECL recognized on investment | ₱ 0 | |||||||||||||||||||||||||||||||||||||
Description of debt investment security credit risk | debt investment security to have low credit risk when its credit risk rating is equivalent to the globally understood definition of ‘investment grade’, or when the exposure is less than 30 days past due | |||||||||||||||||||||||||||||||||||||
Transaction price allocated to remaining performance obligations | ₱ 30,753,000,000 | |||||||||||||||||||||||||||||||||||||
Description of lease term | 12 months or less | |||||||||||||||||||||||||||||||||||||
Transformation Incentive Plan [Member] | ||||||||||||||||||||||||||||||||||||||
Disclosure Of Significant Accounting Policies [Line Items] | ||||||||||||||||||||||||||||||||||||||
Description of vesting requirements for share-based payment arrangement | over a three-year vesting period from January 1, 2017 to December 31, 2019. | |||||||||||||||||||||||||||||||||||||
2019 [Member] | ||||||||||||||||||||||||||||||||||||||
Disclosure Of Significant Accounting Policies [Line Items] | ||||||||||||||||||||||||||||||||||||||
Remaining performance obligations percentage | 63.00% | |||||||||||||||||||||||||||||||||||||
1-2 years [Member] | ||||||||||||||||||||||||||||||||||||||
Disclosure Of Significant Accounting Policies [Line Items] | ||||||||||||||||||||||||||||||||||||||
Remaining performance obligations percentage | 37.00% | |||||||||||||||||||||||||||||||||||||
Common Stock [Member] | ||||||||||||||||||||||||||||||||||||||
Disclosure Of Significant Accounting Policies [Line Items] | ||||||||||||||||||||||||||||||||||||||
Number of shares authorized | shares | 234,000 | 234,000 | ||||||||||||||||||||||||||||||||||||
Number of shares issued | shares | 219,000 | 219,000 | ||||||||||||||||||||||||||||||||||||
Trademark [Member] | ||||||||||||||||||||||||||||||||||||||
Disclosure Of Significant Accounting Policies [Line Items] | ||||||||||||||||||||||||||||||||||||||
Amortization period | two years | |||||||||||||||||||||||||||||||||||||
Amortization method | straight-line method of accounting | |||||||||||||||||||||||||||||||||||||
Subscription Assets [Member] | ||||||||||||||||||||||||||||||||||||||
Disclosure Of Significant Accounting Policies [Line Items] | ||||||||||||||||||||||||||||||||||||||
Amortization period | 10 years | |||||||||||||||||||||||||||||||||||||
Amortization method | straight-line method of accounting | |||||||||||||||||||||||||||||||||||||
Gohopscotch, Inc. [Member] | Gohopscotch South East Asia Pte Limited [Member] | ||||||||||||||||||||||||||||||||||||||
Disclosure Of Significant Accounting Policies [Line Items] | ||||||||||||||||||||||||||||||||||||||
Percentage of Ownership | 10.00% | |||||||||||||||||||||||||||||||||||||
Metro Pacific Investments Corporation [Member] | ||||||||||||||||||||||||||||||||||||||
Disclosure Of Significant Accounting Policies [Line Items] | ||||||||||||||||||||||||||||||||||||||
Authorized capital amount | ₱ 2,028,000,000 | ₱ 1,602,000,000 | ||||||||||||||||||||||||||||||||||||
Number of shares authorized | shares | 20,000 | 20,000 | ||||||||||||||||||||||||||||||||||||
Par value | ₱ / shares | ₱ 100 | ₱ 79 | ||||||||||||||||||||||||||||||||||||
Voyager Innovations Holdings, Pte. Ltd. [Member] | ||||||||||||||||||||||||||||||||||||||
Disclosure Of Significant Accounting Policies [Line Items] | ||||||||||||||||||||||||||||||||||||||
Consideration paid (received) | $ | $ (175) | |||||||||||||||||||||||||||||||||||||
Investment in associate | ₱ 10,487,000,000 | ₱ 10,748,000,000 | ||||||||||||||||||||||||||||||||||||
Voyager Innovations Holdings, Pte. Ltd. [Member] | Class A Preferred Shares [Member] | Top of range [member] | ||||||||||||||||||||||||||||||||||||||
Disclosure Of Significant Accounting Policies [Line Items] | ||||||||||||||||||||||||||||||||||||||
Share issued | $ | $ 40 | $ 175 | ||||||||||||||||||||||||||||||||||||
Option for additional issue and allotment of shares | $ | $ 50 | |||||||||||||||||||||||||||||||||||||
PLDT Communications and Energy Ventures, Inc. [Member] | ||||||||||||||||||||||||||||||||||||||
Disclosure Of Significant Accounting Policies [Line Items] | ||||||||||||||||||||||||||||||||||||||
Percentage of Ownership | 48.74% | 48.74% | 48.50% | |||||||||||||||||||||||||||||||||||
Number of board seats | seat | 2 | 2 | 2 | |||||||||||||||||||||||||||||||||||
Gain on deconsolidation | ₱ 12,054,000,000 | |||||||||||||||||||||||||||||||||||||
I F C And I F C E A F | ||||||||||||||||||||||||||||||||||||||
Disclosure Of Significant Accounting Policies [Line Items] | ||||||||||||||||||||||||||||||||||||||
Consideration paid (received) | $ | $ 40 | |||||||||||||||||||||||||||||||||||||
Digital Telecommunications Phils., Inc. [Member] | ||||||||||||||||||||||||||||||||||||||
Disclosure Of Significant Accounting Policies [Line Items] | ||||||||||||||||||||||||||||||||||||||
Percentage of ownership interest in subsidiary acquired | 51.60% | |||||||||||||||||||||||||||||||||||||
Smart Communications, Inc. [Member] | ||||||||||||||||||||||||||||||||||||||
Disclosure Of Significant Accounting Policies [Line Items] | ||||||||||||||||||||||||||||||||||||||
Percentage of Ownership | 100.00% | |||||||||||||||||||||||||||||||||||||
Smart Communications, Inc. [Member] | Red Mobile [Member] | ||||||||||||||||||||||||||||||||||||||
Disclosure Of Significant Accounting Policies [Line Items] | ||||||||||||||||||||||||||||||||||||||
Consideration paid (received) | ₱ 18,000,000 | |||||||||||||||||||||||||||||||||||||
Connectivity Unlimited Resource Enterprise [Member] | PH Communications Holdings Corporation [Member] | ||||||||||||||||||||||||||||||||||||||
Disclosure Of Significant Accounting Policies [Line Items] | ||||||||||||||||||||||||||||||||||||||
Percentage of Ownership | 97.00% | |||||||||||||||||||||||||||||||||||||
Connectivity Unlimited Resource Enterprise [Member] | Francom Holdings, Inc. [Member] | ||||||||||||||||||||||||||||||||||||||
Disclosure Of Significant Accounting Policies [Line Items] | ||||||||||||||||||||||||||||||||||||||
Percentage of Ownership | 3.00% | |||||||||||||||||||||||||||||||||||||
Talas Data Intelligence, Inc. [Member] | ||||||||||||||||||||||||||||||||||||||
Disclosure Of Significant Accounting Policies [Line Items] | ||||||||||||||||||||||||||||||||||||||
Subscription amount | ₱ 250,000,000 | |||||||||||||||||||||||||||||||||||||
Subscription amount paid | ₱ 187,500,000 | ₱ 62,500,000 | ||||||||||||||||||||||||||||||||||||
Additional Equity Investment | ₱ 115,000,000 | ₱ 150,000,000 | ₱ 120,000,000 | |||||||||||||||||||||||||||||||||||
P L D T Capital Pte Ltd | Gohopscotch South East Asia Pte Limited [Member] | ||||||||||||||||||||||||||||||||||||||
Disclosure Of Significant Accounting Policies [Line Items] | ||||||||||||||||||||||||||||||||||||||
Percentage of Ownership | 90.00% | |||||||||||||||||||||||||||||||||||||
iCommerce Investments Pte. Ltd. [Member] | Voyager Innovations Holdings, Pte. Ltd. [Member] | ||||||||||||||||||||||||||||||||||||||
Disclosure Of Significant Accounting Policies [Line Items] | ||||||||||||||||||||||||||||||||||||||
Consideration paid (received) | $ | $ 8.9 | |||||||||||||||||||||||||||||||||||||
Loans receivables | $ | $ 8.6 | |||||||||||||||||||||||||||||||||||||
iCommerce Investments Pte. Ltd. [Member] | Voyager Innovations Holdings, Pte. Ltd. [Member] | Common Stock [Member] | ||||||||||||||||||||||||||||||||||||||
Disclosure Of Significant Accounting Policies [Line Items] | ||||||||||||||||||||||||||||||||||||||
Number of shares issued | shares | 10 | |||||||||||||||||||||||||||||||||||||
Consideration for minority interest | $ / shares | $ 1 | |||||||||||||||||||||||||||||||||||||
Smart [Member] | Perpetual notes facility agreement [Member] | ||||||||||||||||||||||||||||||||||||||
Disclosure Of Significant Accounting Policies [Line Items] | ||||||||||||||||||||||||||||||||||||||
Perpetual notes issued | ₱ 1,100,000,000 | ₱ 1,100,000,000 | ₱ 1,590,000,000 | ₱ 2,610,000,000 | ||||||||||||||||||||||||||||||||||
Managed transformation agreement | $ | $ 300 | |||||||||||||||||||||||||||||||||||||
Expansion of strategic partnership service agreement term | 6 years | |||||||||||||||||||||||||||||||||||||
Smart [Member] | Voyager Innovations Holdings, Pte. Ltd. [Member] | Common Stock [Member] | ||||||||||||||||||||||||||||||||||||||
Disclosure Of Significant Accounting Policies [Line Items] | ||||||||||||||||||||||||||||||||||||||
Consideration paid (received) | ₱ 3,527,000,000 | |||||||||||||||||||||||||||||||||||||
Number of shares issued | shares | 170,000 | |||||||||||||||||||||||||||||||||||||
Smart [Member] | PLDT Communications and Energy Ventures, Inc. [Member] | Common Stock [Member] | ||||||||||||||||||||||||||||||||||||||
Disclosure Of Significant Accounting Policies [Line Items] | ||||||||||||||||||||||||||||||||||||||
Consideration paid (received) | ₱ 465,000,000 | |||||||||||||||||||||||||||||||||||||
Par value | $ / shares | $ 1 | |||||||||||||||||||||||||||||||||||||
Number of shares issued | shares | 96,000 | 53,000 | ||||||||||||||||||||||||||||||||||||
Percentage of shares issued and outstanding | 100.00% | |||||||||||||||||||||||||||||||||||||
Subscription price | ₱ 3,806,000,000 | $ 96 | ||||||||||||||||||||||||||||||||||||
Primeworld Digital Systems, Inc. [Member] | ||||||||||||||||||||||||||||||||||||||
Disclosure Of Significant Accounting Policies [Line Items] | ||||||||||||||||||||||||||||||||||||||
Percentage of Ownership | 95.00% | 67.00% | ||||||||||||||||||||||||||||||||||||
Additional Investments | ₱ 66,000,000 | ₱ 134,000,000 |
Summary of Significant Accoun_7
Summary of Significant Accounting Policies - Reconciliation of Carrying Amounts of Financial Instruments from Their Previous Classification and Measurement Category (Detail) - PHP (₱) ₱ in Millions | Dec. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Financial Assets | |||||
Cash and cash equivalents (Note 15) | ₱ 51,654 | ₱ 32,905 | ₱ 38,722 | ₱ 46,455 | |
Short-term investments | 45,672 | 26,554 | |||
Trade and other receivables | 40,559 | 48,262 | |||
Current portion of investment in debt securities and other long-term investments (Note 12) | 100 | ||||
Current portion of advances and other noncurrent assets | 6,824 | ||||
Less: To Financial instruments at FVPL | 4,763 | ||||
Financial assets at fair value through other comprehensive income – net of current portion (Notes 6 and 24) | 2,749 | ||||
Advances and other noncurrent assets – net of current portion | 13,855 | ||||
Less: To Financial instruments at FVOCI | 2,749 | ||||
Investment in debt securities and other long-term investments – net of current portion (Note 12) | 150 | 150 | |||
Total assets | 95,747 | 104,220 | |||
Current portion of derivative financial assets (Note 27) | 183 | 171 | |||
Current portion of derivative financial liabilities (Note 27) | 80 | 141 | |||
Less: To financial assets at FVPL | 4,763 | ||||
Available-for-sale financial investments (Notes 6 and 11) | 15,165 | ||||
Current portion of financial assets at fair value through other comprehensive income (Notes 6 and 24) | 1,604 | ||||
Derivative financial assets – net of current portion (Note 27) | 140 | 215 | |||
IAS 39 [Member] | |||||
Financial Assets | |||||
Total assets | ₱ 88,519 | ||||
Available-for-sale financial investments (Notes 6 and 11) | 15,165 | ||||
Financial assets available for sale | 15,165 | ||||
IAS 39 [Member] | Derivatives Used For Hedging Category | |||||
Financial Assets | |||||
Current portion of derivative financial assets (Note 27) | 171 | ||||
Derivative financial assets – net of current portion | 215 | ||||
Current portion of derivative financial liabilities (Note 27) | (51) | ||||
Derivative financial liabilities – net of current portion | (8) | ||||
Derivative financial assets held for hedging | 327 | ||||
Reclassification [Member] | |||||
Financial Assets | |||||
Trade and other receivables | 4,091 | ||||
Current portion of advances and other noncurrent assets | (6,785) | ||||
Less: To Financial instruments at FVPL | (15,165) | ||||
Advances and other noncurrent assets – net of current portion | 11,461 | ||||
Less: To Financial instruments at FVOCI | (11,461) | ||||
Investment in debt securities and other long-term investments – net of current portion (Note 12) | 150 | ||||
Loans receivables | 15,552 | ||||
Total assets | (22,187) | ||||
Less: To Financial instruments at amortized cost | (150) | ||||
Current portion of derivative financial assets (Note 27) | (171) | ||||
Derivative financial assets – net of current portion | (215) | ||||
Current portion of derivative financial liabilities (Note 27) | 51 | ||||
Derivative financial liabilities – net of current portion | 8 | ||||
Derivative financial assets held for hedging | (327) | ||||
Available-for-sale financial investments (Notes 6 and 11) | (15,165) | ||||
Financial assets available for sale | (15,165) | ||||
Current portion of financial assets at fair value through other comprehensive income (Notes 6 and 24) | 15,552 | ||||
Derivative financial assets – net of current portion (Note 27) | 22,277 | ||||
Reclassification [Member] | Derivatives Used For Hedging Category | |||||
Financial Assets | |||||
Current portion of derivative financial assets (Note 27) | (171) | ||||
Derivative financial assets – net of current portion | (215) | ||||
Current portion of derivative financial liabilities (Note 27) | 51 | ||||
Derivative financial liabilities – net of current portion | 8 | ||||
Less: To financial assets at FVPL | (327) | ||||
Derivative financial assets held for hedging | (327) | ||||
Remeasurement [Member] | |||||
Financial Assets | |||||
Trade and other receivables | (8) | ||||
Advances and other noncurrent assets – net of current portion | (128) | ||||
Total assets | (136) | ||||
Current portion of financial assets at fair value through other comprehensive income (Notes 6 and 24) | (136) | ||||
Remeasurement [Member] | ECL [Member] | |||||
Financial Assets | |||||
Total assets | (276) | ||||
Loans and receivables, category [member] | |||||
Financial Assets | |||||
Cash and cash equivalents (Note 15) | 32,905 | ||||
Current portion of investment in debt securities and other long-term investments (Note 12) | 100 | ||||
Current portion of advances and other noncurrent assets | 6,824 | ||||
Advances and other noncurrent assets – net of current portion | 13,855 | ||||
Total assets | 88,519 | ||||
Loans and receivables, category [member] | IAS 39 [Member] | |||||
Financial Assets | |||||
Cash and cash equivalents (Note 15) | 32,905 | ||||
Short-term investments | 1,074 | ||||
Trade and other receivables | 33,761 | ||||
Current portion of investment in debt securities and other long-term investments (Note 12) | 100 | ||||
Current portion of advances and other noncurrent assets | 6,824 | ||||
Advances and other noncurrent assets – net of current portion | 13,855 | ||||
Loans and receivables, category [member] | Reclassification [Member] | |||||
Financial Assets | |||||
Trade and other receivables | (4,091) | ||||
Current portion of advances and other noncurrent assets | (6,785) | ||||
Less: To Financial instruments at FVPL | (6,785) | ||||
Financial assets at fair value through other comprehensive income – net of current portion (Notes 6 and 24) | (4,091) | ||||
Advances and other noncurrent assets – net of current portion | (11,461) | ||||
Loans and receivables, category [member] | Remeasurement [Member] | ECL [Member] | |||||
Financial Assets | |||||
Trade and other receivables | (258) | ||||
Advances and other noncurrent assets – net of current portion | (18) | ||||
HTM investments [Member] | |||||
Financial Assets | |||||
Investment in debt securities and other long-term investments – net of current portion (Note 12) | 150 | ||||
Total assets | 150 | ||||
HTM investments [Member] | IAS 39 [Member] | |||||
Financial Assets | |||||
Investment in debt securities and other long-term investments – net of current portion (Note 12) | 150 | ||||
Current held-to-maturity investments | 150 | ||||
HTM investments [Member] | Reclassification [Member] | |||||
Financial Assets | |||||
Investment in debt securities and other long-term investments – net of current portion (Note 12) | (150) | ||||
Loans receivables | 150 | ||||
Current held-to-maturity investments | (150) | ||||
Available-for-sale financial investments [Member] | |||||
Financial Assets | |||||
Total assets | 15,165 | ||||
Available-for-sale financial investments (Notes 6 and 11) | 15,165 | ||||
Available-for-sale financial investments [Member] | Reclassification [Member] | |||||
Financial Assets | |||||
Loans receivables | (6,785) | ||||
Available-for-sale financial investments (Notes 6 and 11) | (15,165) | ||||
Financial Instruments At Amortized Cost | IFRS 9 [Member] | |||||
Financial Assets | |||||
Cash and cash equivalents (Note 15) | 32,905 | ||||
Short-term investments | 1,074 | ||||
Trade and other receivables | 29,412 | ||||
Current portion of investment in debt securities and other long-term investments (Note 12) | 100 | ||||
Current portion of advances and other noncurrent assets | 39 | ||||
Advances and other noncurrent assets – net of current portion | 2,376 | ||||
Investment in debt securities and other long-term investments – net of current portion (Note 12) | 150 | ||||
Loans receivables | 66,056 | ||||
Financial assets at fair value through other comprehensive income, category [member] | |||||
Financial Assets | |||||
Less: To Financial instruments at FVOCI | 2,749 | ||||
Total assets | 4,353 | ||||
Financial assets at fair value through other comprehensive income, category [member] | IFRS 9 [Member] | |||||
Financial Assets | |||||
Trade and other receivables | 4,083 | ||||
Advances and other noncurrent assets – net of current portion | 11,333 | ||||
Current portion of financial assets at fair value through other comprehensive income (Notes 6 and 24) | 15,416 | ||||
Financial assets at fair value through profit or loss, category [member] | |||||
Financial Assets | |||||
Less: To Financial instruments at FVPL | 4,763 | ||||
Total assets | 11,919 | ||||
Current portion of derivative financial assets (Note 27) | 183 | ||||
Current portion of derivative financial liabilities (Note 27) | 80 | ₱ 90 | |||
Derivative financial assets – net of current portion (Note 27) | ₱ 140 | ||||
Financial assets at fair value through profit or loss, category [member] | IFRS 9 [Member] | |||||
Financial Assets | |||||
Current portion of advances and other noncurrent assets | 6,785 | ||||
Current portion of derivative financial assets (Note 27) | 171 | ||||
Derivative financial assets – net of current portion | 215 | ||||
Current portion of derivative financial liabilities (Note 27) | (51) | ||||
Derivative financial liabilities – net of current portion | (8) | ||||
Available-for-sale financial investments (Notes 6 and 11) | 15,165 | ||||
Derivative financial assets – net of current portion (Note 27) | ₱ 22,277 |
Summary of Significant Accoun_8
Summary of Significant Accounting Policies - Reconciliation of Carrying Amounts of Financial Instruments from Their Previous Classification and Measurement Category (Parenthetical) (Detail) - PHP (₱) | Dec. 31, 2018 | Jan. 01, 2018 |
Disclosure Of Financial Assets At Date Of Initial Application Of I F R S9 [Abstract] | ||
Debt instruments at amortized cost (Note 12) | ₱ 150,000,000 | ₱ 0 |
Summary of Significant Accoun_9
Summary of Significant Accounting Policies - Summary of Effect of Adopting IFRS 9 (Detail) - PHP (₱) ₱ in Millions | Dec. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Financial Assets | |||||
Total assets | ₱ 95,747 | ₱ 104,220 | |||
Total adjustment on equity: | |||||
Retained earnings (Note 19) | 12,081 | 634 | |||
Other comprehensive loss (Note 6) | (25,190) | (19,151) | |||
TOTAL EQUITY | ₱ 116,666 | ₱ 111,183 | ₱ 108,537 | ₱ 113,898 | |
Remeasurement [Member] | |||||
Financial Assets | |||||
Financial assets at FVOCI | ₱ (136) | ||||
Total assets | (136) | ||||
Total adjustment on equity: | |||||
Retained earnings (Note 19) | 4,491 | ||||
Other comprehensive loss (Note 6) | (4,627) | ||||
TOTAL EQUITY | ₱ (136) |
Summary of Significant Accou_10
Summary of Significant Accounting Policies - Reconciliation of Prior Period Closing Impairment Allowance, Provisions and Opening Impairment Allowance (Detail) - Financial Assets at Amortized Cost (IFRS 9) [Member] ₱ in Millions | Jan. 01, 2018PHP (₱) |
Retained earnings [Member] | |
Disclosure Of Initial Application Of Standards Or Interpretations [Line Items] | |
Loans receivables | ₱ 390 |
Retained earnings [Member] | Trade and Other Receivables [Member] | |
Disclosure Of Initial Application Of Standards Or Interpretations [Line Items] | |
Loans receivables | 258 |
Retained earnings [Member] | Contract Assets [Member] | |
Disclosure Of Initial Application Of Standards Or Interpretations [Line Items] | |
Loans receivables | 114 |
Retained earnings [Member] | Other financial assets [Member] | |
Disclosure Of Initial Application Of Standards Or Interpretations [Line Items] | |
Loans receivables | 18 |
Impairment Allowance | IAS 39 [Member] | |
Disclosure Of Initial Application Of Standards Or Interpretations [Line Items] | |
Loans receivables | 14,501 |
Impairment Allowance | IFRS 9 [Member] | |
Disclosure Of Initial Application Of Standards Or Interpretations [Line Items] | |
Loans receivables | 14,891 |
Impairment Allowance | Trade and Other Receivables [Member] | IAS 39 [Member] | |
Disclosure Of Initial Application Of Standards Or Interpretations [Line Items] | |
Loans receivables | 14,501 |
Impairment Allowance | Trade and Other Receivables [Member] | IFRS 9 [Member] | |
Disclosure Of Initial Application Of Standards Or Interpretations [Line Items] | |
Loans receivables | 14,759 |
Impairment Allowance | Contract Assets [Member] | IFRS 9 [Member] | |
Disclosure Of Initial Application Of Standards Or Interpretations [Line Items] | |
Loans receivables | 114 |
Impairment Allowance | Other financial assets [Member] | IFRS 9 [Member] | |
Disclosure Of Initial Application Of Standards Or Interpretations [Line Items] | |
Loans receivables | ₱ 18 |
Summary of Significant Accou_11
Summary of Significant Accounting Policies - Summary of Effect of Adopting IFRS 15 (Detail) - PHP (₱) ₱ in Millions | Dec. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
ASSETS | ||||
Trade and other receivables | ₱ 40,559 | ₱ 48,262 | ||
Contract assets | 3,399 | |||
Deferred income tax assets | 24,716 | 27,100 | ₱ 23,781 | |
TOTAL ASSETS | 482,750 | 459,444 | 475,119 | |
Liabilities | ||||
Deferred income tax liabilities (Note 7) | 2,981 | 3,366 | 3,567 | |
TOTAL LIABILITIES | 366,084 | 348,261 | ₱ 366,582 | |
Equity | ||||
Retained earnings (Note 19) | 12,081 | ₱ 634 | ||
Increase (Decrease) [Member] | ||||
ASSETS | ||||
Trade and other receivables | ₱ (37) | |||
Contract assets | 3,880 | |||
Deferred income tax assets | (833) | (918) | ||
TOTAL ASSETS | 2,533 | 2,925 | ||
Liabilities | ||||
Contract liabilities and unearned revenues | 178 | |||
Deferred income tax liabilities (Note 7) | 145 | 194 | ||
TOTAL LIABILITIES | ₱ 290 | 372 | ||
Equity | ||||
Retained earnings (Note 19) | ₱ 2,553 |
Summary of Significant Accou_12
Summary of Significant Accounting Policies - Consolidated Statement of Profit or Loss (Detail) - PHP (₱) ₱ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Revenue from contracts with customers | |||
Service revenues (Note 5) | ₱ 154,207 | ₱ 151,165 | ₱ 157,210 |
Non-service revenues (Note 5) | 10,545 | 8,761 | 8,052 |
Revenues | 164,752 | 159,926 | 165,262 |
Impairment loss | (223) | ||
PROVISION FOR INCOME TAX (Note 7) | 3,842 | 1,103 | 1,909 |
NET INCOME | 18,973 | 13,466 | 20,162 |
ATTRIBUTABLE TO: | |||
Equity holders of parent | (18,916) | (13,371) | (20,006) |
Noncontrolling interests | 57 | ₱ 95 | ₱ 156 |
IFRS 15 [Member] | |||
Revenue from contracts with customers | |||
Service revenues (Note 5) | 154,207 | ||
Non-service revenues (Note 5) | 10,545 | ||
Revenues | 164,752 | ||
Interest income | 1,943 | ||
Impairment loss | (206) | ||
PROVISION FOR INCOME TAX (Note 7) | (3,842) | ||
NET INCOME | 162,647 | ||
ATTRIBUTABLE TO: | |||
Equity holders of parent | 162,590 | ||
Noncontrolling interests | 57 | ||
IAS 18 [Member] | |||
Revenue from contracts with customers | |||
Service revenues (Note 5) | 157,845 | ||
Non-service revenues (Note 5) | 7,602 | ||
Revenues | 165,447 | ||
Interest income | 1,486 | ||
PROVISION FOR INCOME TAX (Note 7) | (3,976) | ||
NET INCOME | 162,957 | ||
ATTRIBUTABLE TO: | |||
Equity holders of parent | 162,900 | ||
Noncontrolling interests | 57 | ||
Increase (Decrease) [Member] | |||
Revenue from contracts with customers | |||
Service revenues (Note 5) | (3,638) | ||
Non-service revenues (Note 5) | 2,943 | ||
Revenues | (695) | ||
Interest income | 457 | ||
Impairment loss | (206) | ||
PROVISION FOR INCOME TAX (Note 7) | 134 | ||
NET INCOME | (310) | ||
ATTRIBUTABLE TO: | |||
Equity holders of parent | ₱ (310) |
Summary of Significant Accou_13
Summary of Significant Accounting Policies - Consolidated Statement of Financial Position (Detail) - PHP (₱) | Dec. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Noncurrent Assets | |||||
Property and equipment (Notes 9 and 21) | ₱ 195,964,000,000 | ₱ 186,907,000,000 | ₱ 203,188,000,000 | ||
Investments in associates and joint ventures | 55,427,000,000 | 46,130,000,000 | 56,858,000,000 | ||
Less: To financial assets at FVPL | 4,763,000,000 | ||||
Debt instruments at amortized cost (Note 12) | 150,000,000 | ₱ 0 | |||
Investment properties (Notes 6 and 13) | 777,000,000 | 1,635,000,000 | 1,890,000,000 | ||
Goodwill and intangible assets (Note 14) | 68,583,000,000 | 69,583,000,000 | |||
Deferred income tax assets – net (Note 7) | 27,697,000,000 | 30,466,000,000 | 27,348,000,000 | ||
Deferred income tax assets | 24,716,000,000 | 27,100,000,000 | 23,781,000,000 | ||
Derivative financial assets – net of current portion (Note 27) | 140,000,000 | 215,000,000 | |||
Prepayments – net of current portion (Note 18) | 6,255,000,000 | 5,370,000,000 | |||
Financial assets at fair value through other comprehensive income – net of current portion (Notes 6 and 24) | 2,749,000,000 | ||||
Other financial assets – net of current portion (Note 27) | 2,275,000,000 | ||||
Contract assets – net of current portion | 1,083,000,000 | ||||
Other non-financial assets – net of current portion | 230,000,000 | ||||
Total Noncurrent Assets | 383,176,000,000 | 369,775,000,000 | |||
Current Assets | |||||
Cash and cash equivalents (Note 15) | 51,654,000,000 | 32,905,000,000 | 38,722,000,000 | ₱ 46,455,000,000 | |
Short-term investments (Note 27) | 1,165,000,000 | 1,074,000,000 | |||
Trade and other receivables (Note 16) | 24,056,000,000 | 33,761,000,000 | |||
Inventories and supplies | 2,878,000,000 | 3,933,000,000 | |||
Current portion of contract assets (Note 5) | 2,185,000,000 | ||||
Current portion of derivative financial assets (Note 27) | 183,000,000 | 171,000,000 | |||
Current portion of prepayments (Note 18) | 7,760,000,000 | 9,633,000,000 | |||
Current portion of advances and other noncurrent assets (Note 19) | 620,000,000 | 8,092,000,000 | |||
Current portion of other financial assets (Notes 19 and 27) | 7,008,000,000 | ||||
Current portion of other non-financial assets | 461,000,000 | ||||
Total Current Assets | 99,574,000,000 | 89,669,000,000 | |||
TOTAL ASSETS | 482,750,000,000 | 459,444,000,000 | 475,119,000,000 | ||
Equity | |||||
Equity attributable to equity holders of PLDT | 112,358,000,000 | 106,842,000,000 | |||
Noncontrolling interests (Note 6) | 4,308,000,000 | 4,341,000,000 | |||
TOTAL EQUITY | 116,666,000,000 | 111,183,000,000 | 108,537,000,000 | ₱ 113,898,000,000 | |
Current Liabilities | |||||
Accounts payable (Note 22) | 74,610,000,000 | 60,445,000,000 | |||
Accrued expenses and other current liabilities (Notes 23 and 26) | 95,724,000,000 | 90,740,000,000 | |||
Current portion of interest-bearing financial liabilities (Notes 20, 24 and 27) | 20,441,000,000 | 14,957,000,000 | |||
Dividends payable | 1,533,000,000 | 1,575,000,000 | |||
Current portion of derivative financial liabilities (Note 27) | 80,000,000 | 141,000,000 | |||
Income tax payable | 220,000,000 | 233,000,000 | |||
Total Current Liabilities | 192,608,000,000 | 168,091,000,000 | |||
Total Liabilities | 366,084,000,000 | 348,261,000,000 | 366,582,000,000 | ||
TOTAL EQUITY AND LIABILITIES | 482,750,000,000 | 459,444,000,000 | |||
Interest-bearing financial liabilities – net of current portion (Notes 20 and 27) | 155,835,000,000 | 157,654,000,000 | |||
Deferred income tax liabilities (Note 7) | 2,981,000,000 | 3,366,000,000 | ₱ 3,567,000,000 | ||
Customers’ deposits (Note 27) | 2,194,000,000 | 2,443,000,000 | |||
Pension and other employee benefits (Note 25) | 7,182,000,000 | 8,997,000,000 | |||
Deferred credits and other noncurrent liabilities (Note 21) | 5,284,000,000 | 7,702,000,000 | |||
Total Noncurrent Liabilities | 173,476,000,000 | ₱ 180,170,000,000 | |||
IFRS 15 [Member] | |||||
Noncurrent Assets | |||||
Property and equipment (Notes 9 and 21) | 195,964,000,000 | ||||
Investments in associates and joint ventures | 55,427,000,000 | ||||
Less: To financial assets at FVPL | 4,763,000,000 | ||||
Debt instruments at amortized cost (Note 12) | 150,000,000 | ||||
Investment properties (Notes 6 and 13) | 777,000,000 | ||||
Goodwill and intangible assets (Note 14) | 68,583,000,000 | ||||
Deferred income tax assets – net (Note 7) | 27,697,000,000 | ||||
Derivative financial assets – net of current portion (Note 27) | 140,000,000 | ||||
Prepayments – net of current portion (Note 18) | 6,255,000,000 | ||||
Advances and other noncurrent assets – net of current portion | 17,083,000,000 | ||||
Financial assets at fair value through other comprehensive income – net of current portion (Notes 6 and 24) | 2,749,000,000 | ||||
Other financial assets – net of current portion (Note 27) | 2,275,000,000 | ||||
Contract assets – net of current portion | 1,083,000,000 | ||||
Other non-financial assets – net of current portion | 230,000,000 | ||||
Total Noncurrent Assets | 383,176,000,000 | ||||
Current Assets | |||||
Cash and cash equivalents (Note 15) | 51,654,000,000 | ||||
Short-term investments (Note 27) | 1,165,000,000 | ||||
Trade and other receivables (Note 16) | 24,056,000,000 | ||||
Inventories and supplies | 2,878,000,000 | ||||
Current portion of contract assets (Note 5) | 2,185,000,000 | ||||
Current portion of derivative financial assets (Note 27) | 183,000,000 | ||||
Current portion of prepayments (Note 18) | 7,760,000,000 | ||||
Current portion of advances and other noncurrent assets (Note 19) | 620,000,000 | ||||
Current portion of financial assets at fair value through profit or loss | 1,604,000,000 | ||||
Current portion of other financial assets (Notes 19 and 27) | 7,008,000,000 | ||||
Current portion of other non-financial assets | 461,000,000 | ||||
Total Current Assets | 99,574,000,000 | ||||
TOTAL ASSETS | 482,750,000,000 | ||||
Equity | |||||
Equity attributable to equity holders of PLDT | 112,358,000,000 | ||||
Noncontrolling interests (Note 6) | 4,308,000,000 | ||||
TOTAL EQUITY | 116,666,000,000 | ||||
Current Liabilities | |||||
Accounts payable (Note 22) | 74,610,000,000 | ||||
Accrued expenses and other current liabilities (Notes 23 and 26) | 95,724,000,000 | ||||
Current portion of interest-bearing financial liabilities (Notes 20, 24 and 27) | 20,441,000,000 | ||||
Dividends payable | 1,533,000,000 | ||||
Current portion of derivative financial liabilities (Note 27) | 80,000,000 | ||||
Income tax payable | 220,000,000 | ||||
Total Current Liabilities | 192,608,000,000 | ||||
Total Liabilities | 366,084,000,000 | ||||
TOTAL EQUITY AND LIABILITIES | 482,750,000,000 | ||||
Interest-bearing financial liabilities – net of current portion (Notes 20 and 27) | 155,835,000,000 | ||||
Deferred income tax liabilities (Note 7) | 2,981,000,000 | ||||
Customers’ deposits (Note 27) | 2,194,000,000 | ||||
Pension and other employee benefits (Note 25) | 7,182,000,000 | ||||
Deferred credits and other noncurrent liabilities (Note 21) | 5,284,000,000 | ||||
Total Noncurrent Liabilities | 173,476,000,000 | ||||
IAS 18 [Member] | |||||
Noncurrent Assets | |||||
Property and equipment (Notes 9 and 21) | 195,964,000,000 | ||||
Investments in associates and joint ventures | 55,427,000,000 | ||||
Less: To financial assets at FVPL | 4,763,000,000 | ||||
Debt instruments at amortized cost (Note 12) | 150,000,000 | ||||
Investment properties (Notes 6 and 13) | 777,000,000 | ||||
Goodwill and intangible assets (Note 14) | 68,583,000,000 | ||||
Deferred income tax assets – net (Note 7) | 28,530,000,000 | ||||
Derivative financial assets – net of current portion (Note 27) | 140,000,000 | ||||
Prepayments – net of current portion (Note 18) | 6,255,000,000 | ||||
Advances and other noncurrent assets – net of current portion | 17,083,000,000 | ||||
Financial assets at fair value through other comprehensive income – net of current portion (Notes 6 and 24) | 2,749,000,000 | ||||
Other financial assets – net of current portion (Note 27) | 2,275,000,000 | ||||
Other non-financial assets – net of current portion | 230,000,000 | ||||
Total Noncurrent Assets | 382,926,000,000 | ||||
Current Assets | |||||
Cash and cash equivalents (Note 15) | 51,654,000,000 | ||||
Short-term investments (Note 27) | 1,165,000,000 | ||||
Trade and other receivables (Note 16) | 23,958,000,000 | ||||
Inventories and supplies | 2,878,000,000 | ||||
Current portion of derivative financial assets (Note 27) | 183,000,000 | ||||
Current portion of prepayments (Note 18) | 7,760,000,000 | ||||
Current portion of advances and other noncurrent assets (Note 19) | 620,000,000 | ||||
Current portion of financial assets at fair value through profit or loss | 1,604,000,000 | ||||
Current portion of other financial assets (Notes 19 and 27) | 7,008,000,000 | ||||
Current portion of other non-financial assets | 461,000,000 | ||||
Total Current Assets | 97,291,000,000 | ||||
TOTAL ASSETS | 480,217,000,000 | ||||
Equity | |||||
Equity attributable to equity holders of PLDT | 110,115,000,000 | ||||
Noncontrolling interests (Note 6) | 4,308,000,000 | ||||
TOTAL EQUITY | 114,423,000,000 | ||||
Current Liabilities | |||||
Accounts payable (Note 22) | 74,610,000,000 | ||||
Accrued expenses and other current liabilities (Notes 23 and 26) | 95,637,000,000 | ||||
Current portion of interest-bearing financial liabilities (Notes 20, 24 and 27) | 20,441,000,000 | ||||
Dividends payable | 1,533,000,000 | ||||
Current portion of derivative financial liabilities (Note 27) | 80,000,000 | ||||
Income tax payable | 220,000,000 | ||||
Total Current Liabilities | 192,521,000,000 | ||||
Total Liabilities | 365,794,000,000 | ||||
TOTAL EQUITY AND LIABILITIES | 480,217,000,000 | ||||
Interest-bearing financial liabilities – net of current portion (Notes 20 and 27) | 155,835,000,000 | ||||
Deferred income tax liabilities (Note 7) | 2,836,000,000 | ||||
Customers’ deposits (Note 27) | 2,194,000,000 | ||||
Pension and other employee benefits (Note 25) | 7,182,000,000 | ||||
Deferred credits and other noncurrent liabilities (Note 21) | 5,226,000,000 | ||||
Total Noncurrent Liabilities | 173,273,000,000 | ||||
Increase (Decrease) [Member] | |||||
Noncurrent Assets | |||||
Deferred income tax assets | (833,000,000) | (918,000,000) | |||
Contract assets – net of current portion | 1,083,000,000 | ||||
Total Noncurrent Assets | 250,000,000 | ||||
Current Assets | |||||
Trade and other receivables (Note 16) | 98,000,000 | ||||
Current portion of contract assets (Note 5) | 2,185,000,000 | ||||
Total Current Assets | 2,283,000,000 | ||||
TOTAL ASSETS | 2,533,000,000 | 2,925,000,000 | |||
Equity | |||||
Equity attributable to equity holders of PLDT | 2,243,000,000 | ||||
TOTAL EQUITY | 2,243,000,000 | ||||
Current Liabilities | |||||
Accrued expenses and other current liabilities (Notes 23 and 26) | 87,000,000 | ||||
Total Current Liabilities | 87,000,000 | ||||
Total Liabilities | 290,000,000 | 372,000,000 | |||
TOTAL EQUITY AND LIABILITIES | 2,533,000,000 | ||||
Deferred income tax liabilities (Note 7) | 145,000,000 | ₱ 194,000,000 | |||
Deferred credits and other noncurrent liabilities (Note 21) | 58,000,000 | ||||
Total Noncurrent Liabilities | ₱ 203,000,000 |
Management's Use of Accountin_2
Management's Use of Accounting Judgments, Estimates and Assumptions - Additional Information (Detail) ₱ in Thousands | Dec. 03, 2018PHP (₱) | Nov. 28, 2018seat | Jul. 31, 2018PHP (₱) | Apr. 05, 2018shares | Mar. 07, 2018shares | Mar. 02, 2018PHP (₱) | Dec. 18, 2017PHP (₱) | Dec. 05, 2017 | Jun. 27, 2017PHP (₱) | Jun. 13, 2017PHP (₱)shares | Aug. 24, 2016 | May 31, 2016 | May 30, 2016PHP (₱)shares | Apr. 14, 2015PHP (₱)shares | Jun. 24, 2014PHP (₱)shares | Dec. 31, 2018PHP (₱)sharesseat | Dec. 31, 2017PHP (₱) | Dec. 31, 2016PHP (₱)shares | Mar. 07, 2019shares |
Managements Use Of Accounting Judgments Estimates And Assumptions [Line Items] | |||||||||||||||||||
Period due after which default occurs of trade receivables and all other financial assets subject to impairment | 90 days | ||||||||||||||||||
Period due after which default occurs of trade receivables from Corporate subscribers | 120 days | ||||||||||||||||||
Period due after which there is significant increase in credit risk in asset | 30 days | ||||||||||||||||||
Period before which there is low credit risk in financial asset | 30 days | ||||||||||||||||||
Percentage of Impairment of available-for-sale equity investments | 20.00% | ||||||||||||||||||
Asset impairment (Note 5) | ₱ 8,065,000 | ₱ 8,258,000 | ₱ 11,042,000 | ||||||||||||||||
Land and building | 1,236,000 | ||||||||||||||||||
Total lease expense | 7,321,000 | 7,016,000 | 6,632,000 | ||||||||||||||||
Total finance lease obligations | 514 | 679 | |||||||||||||||||
Equity interest acquired | 87.12% | 50.00% | |||||||||||||||||
Number of Shares Sold | shares | 112,710,000 | 56,350,000 | |||||||||||||||||
Total consideration | ₱ 1,152,000 | ₱ 1,294,000 | ₱ 21,800,000 | ₱ 26,200,000 | ₱ 26,487,000 | ₱ 13,243,000 | |||||||||||||
Total asset impairment on noncurrent assets | 2,122,000 | 3,913,000 | 1,074,000 | ||||||||||||||||
Additional depreciation recognized | 15,807,000 | 19,481,000 | |||||||||||||||||
Expected additional depreciation | 540,000 | ||||||||||||||||||
Total depreciation and amortization of property and equipment | 47,240,000 | 51,915,000 | 34,455,000 | ||||||||||||||||
Property and equipment (Notes 9 and 21) | 195,964,000 | 186,907,000 | 203,188,000 | ||||||||||||||||
Amortization of intangible assets (Notes 5 and 14) | 892,000 | 835,000 | 929,000 | ||||||||||||||||
Total carrying values of intangible assets | 7,204,000 | 8,204,000 | |||||||||||||||||
Consolidated unrecognized deferred income tax assets | 3,227,000 | 5,561,000 | |||||||||||||||||
Benefit from deferred income taxes | 1,375,000 | (2,738,000) | (4,134,000) | ||||||||||||||||
Deferred income tax assets – net (Note 7) | 27,697,000 | 30,466,000 | 27,348,000 | ||||||||||||||||
Provision for expected credit losses for trade and other receivables | 4,192,000 | ||||||||||||||||||
Provision for expected credit losses for contract assets | 17,000 | ||||||||||||||||||
Trade and other receivables, net of allowance for expected credit losses | 24,056,000 | ||||||||||||||||||
Contract assets, net of allowance for expected credit losses | 3,268,000 | ||||||||||||||||||
Provision for doubtful accounts for trade and other receivables | 4,192,000 | 3,438,000 | 8,027,000 | ||||||||||||||||
Trade and other receivables (Note 16) | 24,056,000 | 33,761,000 | |||||||||||||||||
Net pension benefit costs | 1,855,000 | 1,610,000 | 1,775,000 | ||||||||||||||||
Prepaid benefit costs | 14,015,000 | 15,003,000 | |||||||||||||||||
Pension and other employee benefits (Note 25) | 7,182,000 | 8,997,000 | |||||||||||||||||
Total provision for asset retirement obligations | 1,656,000 | 1,630,000 | 1,582,000 | ||||||||||||||||
Total fair values of noncurrent financial assets | 2,168,000 | 13,846,000 | |||||||||||||||||
Total fair values of noncurrent financial liabilities | ₱ 143,392,000 | 157,711,000 | |||||||||||||||||
Transformation Incentive Plan [Member] | |||||||||||||||||||
Managements Use Of Accounting Judgments Estimates And Assumptions [Line Items] | |||||||||||||||||||
Number of shares issued | shares | 54,000 | 860,000 | |||||||||||||||||
Number of shares outstanding | shares | 914,000 | ||||||||||||||||||
Number of shares issued and fully paid | shares | 204,000 | ||||||||||||||||||
Expense from share-based payment transactions in which goods or services received did not qualify for recognition as assets | ₱ 208,000 | 827,000 | |||||||||||||||||
Transformation Incentive Plan [Member] | Major Ordinary Share Transactions [Member] | |||||||||||||||||||
Managements Use Of Accounting Judgments Estimates And Assumptions [Line Items] | |||||||||||||||||||
Number of shares to be issued | shares | 757,000 | ||||||||||||||||||
Benefit Costs [Member] | |||||||||||||||||||
Managements Use Of Accounting Judgments Estimates And Assumptions [Line Items] | |||||||||||||||||||
Prepaid benefit costs | 393,000 | 400,000 | |||||||||||||||||
Defined Benefit Pension Plans [member] | |||||||||||||||||||
Managements Use Of Accounting Judgments Estimates And Assumptions [Line Items] | |||||||||||||||||||
Net pension benefit costs | 1,855,000 | 1,610,000 | 1,775,000 | ||||||||||||||||
Intangible Assets with Finite Life [Member] | |||||||||||||||||||
Managements Use Of Accounting Judgments Estimates And Assumptions [Line Items] | |||||||||||||||||||
Total carrying values of intangible assets | 2,699,000 | 3,699,000 | |||||||||||||||||
Meralco Joint Venture Through P C E V | |||||||||||||||||||
Managements Use Of Accounting Judgments Estimates And Assumptions [Line Items] | |||||||||||||||||||
Total lease expense | ₱ 583,000 | ₱ 298,000 | ₱ 272,000 | ||||||||||||||||
Equity interest acquired | 34.96% | ||||||||||||||||||
Number of shares owned. | shares | 3,894,000,000 | ||||||||||||||||||
Common Stock [Member] | |||||||||||||||||||
Managements Use Of Accounting Judgments Estimates And Assumptions [Line Items] | |||||||||||||||||||
Number of Shares Sold | shares | 646,000,000 | 646,000,000 | |||||||||||||||||
Bottom Of Range [Member] | |||||||||||||||||||
Managements Use Of Accounting Judgments Estimates And Assumptions [Line Items] | |||||||||||||||||||
Equity interest acquired | 5.00% | 5.00% | |||||||||||||||||
Percentage of NCI for partly-owned subsidiaries of parent | 5.00% | 5.00% | |||||||||||||||||
Percentage of investment in associates | 5.00% | 5.00% | |||||||||||||||||
Bottom Of Range [Member] | IAS 28 [Member] | Significant Influence [Member] | |||||||||||||||||||
Managements Use Of Accounting Judgments Estimates And Assumptions [Line Items] | |||||||||||||||||||
Ownership interest | 50.00% | ||||||||||||||||||
Top of range [member] | IAS 28 [Member] | |||||||||||||||||||
Managements Use Of Accounting Judgments Estimates And Assumptions [Line Items] | |||||||||||||||||||
Ownership interest | 20.00% | ||||||||||||||||||
Vega Telecom Inc. [Member] | |||||||||||||||||||
Managements Use Of Accounting Judgments Estimates And Assumptions [Line Items] | |||||||||||||||||||
Equity interest acquired | 50.00% | ||||||||||||||||||
Percentage of right on net assets | 50.00% | ||||||||||||||||||
Total carrying values of intangible assets | ₱ 18,885,000 | ||||||||||||||||||
Bow Arken Holdings Company [Member] | |||||||||||||||||||
Managements Use Of Accounting Judgments Estimates And Assumptions [Line Items] | |||||||||||||||||||
Equity interest acquired | 50.00% | ||||||||||||||||||
Percentage of right on net assets | 50.00% | ||||||||||||||||||
Brightshare Holdings, Inc. [Member] | |||||||||||||||||||
Managements Use Of Accounting Judgments Estimates And Assumptions [Line Items] | |||||||||||||||||||
Equity interest acquired | 50.00% | ||||||||||||||||||
Percentage of right on net assets | 50.00% | ||||||||||||||||||
Beacon Electric Asset Holdings, Inc. [Member] | PCEV [Member] | |||||||||||||||||||
Managements Use Of Accounting Judgments Estimates And Assumptions [Line Items] | |||||||||||||||||||
Equity interest acquired | 50.00% | ||||||||||||||||||
Percentage of ownership interest in subsidiary acquired | 20.00% | 25.00% | |||||||||||||||||
Beacon Electric Asset Holdings, Inc. [Member] | Common Stock [Member] | PCEV [Member] | |||||||||||||||||||
Managements Use Of Accounting Judgments Estimates And Assumptions [Line Items] | |||||||||||||||||||
Number of Shares Sold | shares | 646,000,000 | ||||||||||||||||||
Beacon Electric Asset Holdings, Inc. [Member] | Preferred stock [Member] | PCEV [Member] | |||||||||||||||||||
Managements Use Of Accounting Judgments Estimates And Assumptions [Line Items] | |||||||||||||||||||
Number of Shares Sold | shares | 458,000,000 | ||||||||||||||||||
PCEVs Beacon Electric Asset Holdings Inc [Member] | |||||||||||||||||||
Managements Use Of Accounting Judgments Estimates And Assumptions [Line Items] | |||||||||||||||||||
Equity interest acquired | 75.00% | ||||||||||||||||||
Total consideration | ₱ 4,852,000 | ₱ 21,800,000 | |||||||||||||||||
Consideration settled | ₱ 12,000,000 | 12,000,000 | |||||||||||||||||
Consideration to be settled | ₱ 9,800,000 | ₱ 9,800,000 | |||||||||||||||||
Consideration settlement period in installments | annual installments from June 2018 to June 2021 | annual installments from June 2018 to June 2021 | |||||||||||||||||
PCEVs Beacon Electric Asset Holdings Inc [Member] | PCEV [Member] | |||||||||||||||||||
Managements Use Of Accounting Judgments Estimates And Assumptions [Line Items] | |||||||||||||||||||
Equity interest acquired | 25.00% | 50.00% | |||||||||||||||||
Percentage of equity interest | 34.96% | ||||||||||||||||||
Effective equity interest in joint venture | 8.74% | ||||||||||||||||||
PLDT Communications and Energy Ventures, Inc. [Member] | |||||||||||||||||||
Managements Use Of Accounting Judgments Estimates And Assumptions [Line Items] | |||||||||||||||||||
Percentage of Ownership | 48.74% | 48.50% | |||||||||||||||||
Number of board seats | seat | 2 | 2 | |||||||||||||||||
Meralco [Member] | PCEVs Beacon Electric Asset Holdings Inc [Member] | PCEV [Member] | |||||||||||||||||||
Managements Use Of Accounting Judgments Estimates And Assumptions [Line Items] | |||||||||||||||||||
Percentage of equity interest | 25.00% | ||||||||||||||||||
Multisys Technologies Corporation [Member] | |||||||||||||||||||
Managements Use Of Accounting Judgments Estimates And Assumptions [Line Items] | |||||||||||||||||||
Payment for acquisition of shares | ₱ 523,000 | ||||||||||||||||||
Investment as deposit for future stock subscription | ₱ 800,000 | ||||||||||||||||||
Rocket Internet S E [Member] | |||||||||||||||||||
Managements Use Of Accounting Judgments Estimates And Assumptions [Line Items] | |||||||||||||||||||
Cumulative impairment losses recognized in investment | ₱ 11,045,000 | ||||||||||||||||||
Asset impairment (Note 5) | ₱ 540,000 | ₱ 5,381,000 | |||||||||||||||||
Decline in value below cost | 20.00% |
Operating Segment Information -
Operating Segment Information - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2018Segment | |
Disclosure Of Operating Segments [Abstract] | |
Number of operating segments | 3 |
Total percentage of consolidated fixed line subscribers contributed by subsidiaries | 4.00% |
Operating Segment Information_2
Operating Segment Information - Summary of Operating Segments (Detail) - PHP (₱) ₱ in Millions | 1 Months Ended | 12 Months Ended | ||
Jun. 30, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure Of Operating Segments [Line Items] | ||||
Revenues | ₱ 164,752 | ₱ 159,926 | ₱ 165,262 | |
Service revenues (Note 5) | 154,207 | 151,165 | 157,210 | |
Non-service revenues (Note 5) | 10,545 | 8,761 | 8,052 | |
Depreciation and amortization (Note 9) | 47,240 | 51,915 | 34,455 | |
Asset impairment (Note 5) | 8,065 | 8,258 | 11,042 | |
Impairment of investments (Notes 10 and 11) | ₱ 439 | 172 | 2,562 | 5,515 |
Interest income | 1,943 | 1,412 | 1,046 | |
Equity share in net earnings (losses) of associates and joint ventures | (87) | 2,906 | 1,181 | |
Financing costs | 7,067 | 7,370 | 7,354 | |
PROVISION FOR INCOME TAX (Note 7) | 3,842 | 1,103 | 1,909 | |
NET INCOME | 18,973 | 13,466 | 20,162 | |
Adjusted EBITDA | ₱ 64,027 | ₱ 66,174 | ₱ 61,161 | |
Adjusted EBITDA margin | (42.00%) | 44.00% | 39.00% | |
Core income | ₱ 25,855 | ₱ 27,668 | ₱ 27,857 | |
Operating assets | 399,626 | 382,848 | 390,913 | |
Investments in associates and joint ventures | 55,427 | 46,130 | 56,858 | |
Deferred income tax assets – net | 27,697 | 30,466 | 27,348 | |
TOTAL ASSETS | 482,750 | 459,444 | 475,119 | |
Operating liabilities | 363,103 | 344,895 | 363,015 | |
Deferred income tax liabilities (Note 7) | 2,981 | 3,366 | 3,567 | |
TOTAL LIABILITIES | 366,084 | 348,261 | 366,582 | |
Capital expenditures, including capitalized interest (Note 9) | 58,490 | 40,299 | 42,825 | |
External customers [Member] | ||||
Disclosure Of Operating Segments [Line Items] | ||||
Revenues | 164,752 | 159,926 | 165,262 | |
Service revenues (Note 5) | 154,207 | 151,165 | 157,210 | |
Non-service revenues (Note 5) | 10,545 | 8,761 | 8,052 | |
Wireless [Member] | ||||
Disclosure Of Operating Segments [Line Items] | ||||
Revenues | 87,193 | 91,288 | 102,639 | |
Service revenues (Note 5) | 80,265 | 86,128 | 98,406 | |
Fixed Line [Member] | ||||
Disclosure Of Operating Segments [Line Items] | ||||
Revenues | 76,431 | 67,389 | 61,806 | |
Service revenues (Note 5) | 72,858 | 63,811 | 58,086 | |
Non-service revenues (Note 5) | 3,573 | 3,578 | 3,720 | |
Operating Segments [Member] | Wireless [Member] | ||||
Disclosure Of Operating Segments [Line Items] | ||||
Revenues | 89,929 | 92,572 | 104,087 | |
Depreciation and amortization (Note 9) | 24,778 | 36,776 | 18,767 | |
Asset impairment (Note 5) | 3,319 | 6,104 | 9,016 | |
Impairment of investments (Notes 10 and 11) | 60 | 439 | ||
Interest income | 719 | 305 | 269 | |
Equity share in net earnings (losses) of associates and joint ventures | 62 | (129) | (127) | |
Financing costs | 1,865 | 2,247 | 2,482 | |
PROVISION FOR INCOME TAX (Note 7) | 1,333 | (2,787) | (1,257) | |
NET INCOME | 5,725 | (2,215) | 10,618 | |
Adjusted EBITDA | ₱ 34,235 | ₱ 36,395 | ₱ 32,915 | |
Adjusted EBITDA margin | 41.00% | 42.00% | 33.00% | |
Core income | ₱ 9,760 | ₱ 9,812 | ₱ 12,275 | |
Operating assets | 230,182 | 211,983 | 217,964 | |
Investments in associates and joint ventures | 1,945 | |||
Deferred income tax assets – net | 16,879 | 18,826 | 13,985 | |
TOTAL ASSETS | 247,061 | 230,809 | 233,894 | |
Operating liabilities | 168,837 | 153,622 | 161,480 | |
Deferred income tax liabilities (Note 7) | 2,321 | 2,656 | 2,923 | |
TOTAL LIABILITIES | 171,158 | 156,278 | 164,403 | |
Capital expenditures, including capitalized interest (Note 9) | 32,248 | 27,305 | 32,097 | |
Operating Segments [Member] | Wireless [Member] | External customers [Member] | ||||
Disclosure Of Operating Segments [Line Items] | ||||
Revenues | 87,193 | 91,288 | 102,639 | |
Service revenues (Note 5) | 80,265 | 86,128 | 98,406 | |
Non-service revenues (Note 5) | 6,928 | 5,160 | 4,233 | |
Operating Segments [Member] | Wireless [Member] | Intersegment [Member] | ||||
Disclosure Of Operating Segments [Line Items] | ||||
Revenues | 2,736 | 1,284 | 1,448 | |
Service revenues (Note 5) | 2,736 | 1,284 | 1,448 | |
Operating Segments [Member] | Fixed Line [Member] | ||||
Disclosure Of Operating Segments [Line Items] | ||||
Revenues | 85,222 | 78,341 | 72,728 | |
Depreciation and amortization (Note 9) | 22,303 | 15,001 | 15,471 | |
Asset impairment (Note 5) | 4,746 | 2,098 | 1,758 | |
Impairment of investments (Notes 10 and 11) | 1,583 | 134 | ||
Interest income | 812 | 695 | 707 | |
Equity share in net earnings (losses) of associates and joint ventures | 171 | 44 | (40) | |
Financing costs | 5,195 | 5,106 | 4,917 | |
PROVISION FOR INCOME TAX (Note 7) | 1,336 | 3,680 | 3,018 | |
NET INCOME | 6,059 | 7,474 | 8,134 | |
Adjusted EBITDA | ₱ 30,875 | ₱ 29,478 | ₱ 26,950 | |
Adjusted EBITDA margin | 38.00% | 39.00% | 39.00% | |
Core income | ₱ 6,925 | ₱ 8,846 | ₱ 7,746 | |
Operating assets | 199,557 | 174,217 | 183,533 | |
Investments in associates and joint ventures | 43,426 | 44,867 | 40,874 | |
Deferred income tax assets – net | 12,479 | 11,994 | 13,363 | |
TOTAL ASSETS | 255,462 | 231,078 | 237,770 | |
Operating liabilities | 206,812 | 196,451 | 203,777 | |
Deferred income tax liabilities (Note 7) | 482 | 286 | 384 | |
TOTAL LIABILITIES | 207,294 | 196,737 | 204,161 | |
Capital expenditures, including capitalized interest (Note 9) | 26,242 | 12,994 | 10,728 | |
Operating Segments [Member] | Fixed Line [Member] | External customers [Member] | ||||
Disclosure Of Operating Segments [Line Items] | ||||
Revenues | 76,431 | 67,389 | 61,806 | |
Service revenues (Note 5) | 72,858 | 63,811 | 58,086 | |
Non-service revenues (Note 5) | 3,573 | 3,578 | 3,720 | |
Operating Segments [Member] | Fixed Line [Member] | Intersegment [Member] | ||||
Disclosure Of Operating Segments [Line Items] | ||||
Revenues | 8,791 | 10,952 | 10,922 | |
Service revenues (Note 5) | 8,790 | 10,946 | 10,920 | |
Non-service revenues (Note 5) | 1 | 6 | 2 | |
Operating Segments [Member] | Others [Member] | ||||
Disclosure Of Operating Segments [Line Items] | ||||
Revenues | 1,138 | 1,279 | 847 | |
Depreciation and amortization (Note 9) | 159 | 138 | 217 | |
Asset impairment (Note 5) | 56 | 268 | ||
Impairment of investments (Notes 10 and 11) | 112 | 540 | 5,381 | |
Interest income | 536 | 655 | 307 | |
Equity share in net earnings (losses) of associates and joint ventures | (320) | 2,991 | 1,348 | |
Financing costs | 131 | 214 | 192 | |
PROVISION FOR INCOME TAX (Note 7) | 1,173 | 210 | 148 | |
NET INCOME | 7,971 | 8,825 | 1,410 | |
Adjusted EBITDA | ₱ (2,688) | ₱ (1,307) | ₱ (276) | |
Adjusted EBITDA margin | (246.00%) | (104.00%) | (37.00%) | |
Core income | ₱ 9,952 | ₱ 9,628 | ₱ 7,836 | |
Operating assets | 30,962 | 34,504 | 22,804 | |
Investments in associates and joint ventures | 12,001 | 1,263 | 14,039 | |
Deferred income tax assets – net | (1,119) | |||
TOTAL ASSETS | 41,844 | 35,767 | 36,843 | |
Operating liabilities | 16,773 | 13,624 | 12,637 | |
Deferred income tax liabilities (Note 7) | 367 | 424 | 260 | |
TOTAL LIABILITIES | 17,140 | 14,048 | 12,897 | |
Operating Segments [Member] | Others [Member] | External customers [Member] | ||||
Disclosure Of Operating Segments [Line Items] | ||||
Revenues | 1,128 | 1,249 | 817 | |
Service revenues (Note 5) | 1,084 | 1,226 | 718 | |
Non-service revenues (Note 5) | 44 | 23 | 99 | |
Operating Segments [Member] | Others [Member] | Intersegment [Member] | ||||
Disclosure Of Operating Segments [Line Items] | ||||
Revenues | 10 | 30 | 30 | |
Service revenues (Note 5) | 10 | 30 | 30 | |
Elimination of intersegment amounts [Member] | ||||
Disclosure Of Operating Segments [Line Items] | ||||
Interest income | (124) | (243) | (237) | |
Financing costs | (124) | (197) | (237) | |
NET INCOME | (782) | (618) | ||
Adjusted EBITDA | ₱ 1,605 | ₱ 1,608 | ₱ 1,572 | |
Adjusted EBITDA margin | (14.00%) | (13.00%) | (13.00%) | |
Core income | ₱ (782) | ₱ (618) | ||
Operating assets | (61,075) | (37,856) | ₱ (33,388) | |
Deferred income tax assets – net | (542) | (354) | ||
TOTAL ASSETS | (61,617) | (38,210) | (33,388) | |
Operating liabilities | (29,319) | (18,802) | (14,879) | |
Deferred income tax liabilities (Note 7) | (189) | |||
TOTAL LIABILITIES | (29,508) | (18,802) | (14,879) | |
Elimination of intersegment amounts [Member] | Intersegment [Member] | ||||
Disclosure Of Operating Segments [Line Items] | ||||
Revenues | (11,537) | (12,266) | (12,400) | |
Service revenues (Note 5) | (11,536) | (12,260) | (12,398) | |
Non-service revenues (Note 5) | ₱ (1) | ₱ (6) | ₱ (2) |
Operating Segment Information_3
Operating Segment Information - Summary of Reconciliation of Consolidated Net Income to Consolidated Adjusted EBITDA (Detail) - PHP (₱) ₱ in Millions | 1 Months Ended | 12 Months Ended | ||
Jun. 30, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure Of Operating Segments [Abstract] | ||||
NET INCOME | ₱ 18,973 | ₱ 13,466 | ₱ 20,162 | |
Add (deduct) adjustments: | ||||
Depreciation and amortization (Note 9) | 47,240 | 51,915 | 34,455 | |
Financing costs | 7,067 | 7,370 | 7,354 | |
PROVISION FOR INCOME TAX (Note 7) | 3,842 | 1,103 | 1,909 | |
Noncurrent asset impairment | 2,122 | 3,913 | 1,074 | |
Amortization of intangible assets (Notes 5 and 14) | 892 | 835 | 929 | |
Foreign exchange losses – net (Notes 5 and 9) | 771 | 411 | 2,785 | |
Impairment of investments (Notes 10 and 11) | ₱ 439 | 172 | 2,562 | 5,515 |
Equity share in net losses (earnings) of associates and joint ventures (Notes 5 and 10) | 87 | (2,906) | (1,181) | |
Gains on derivative financial instruments – net (Notes 5 and 27) | (1,086) | (533) | (996) | |
Interest income | (1,943) | (1,412) | (1,046) | |
Other income – net | (14,110) | (10,550) | (9,799) | |
Total adjustments | 45,054 | 52,708 | 40,999 | |
Consolidated Adjusted EBITDA | ₱ 64,027 | ₱ 66,174 | ₱ 61,161 |
Operating Segment Information_4
Operating Segment Information - Summary of Reconciliation of Consolidated Net Income to Consolidated Core Income (Detail) - PHP (₱) ₱ in Millions | 1 Months Ended | 12 Months Ended | ||
Jun. 30, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure Of Operating Segments [Abstract] | ||||
NET INCOME | ₱ 18,973 | ₱ 13,466 | ₱ 20,162 | |
Add (deduct) adjustments: | ||||
Depreciation due to shortened life of property and equipment | 4,564 | 12,816 | ||
Noncurrent asset impairment | 2,122 | 3,913 | 1,074 | |
Manpower rightsizing program, or MRP | 1,703 | 1,747 | 419 | |
Loss in fair value of investments | 1,154 | |||
Foreign exchange losses – net (Notes 5 and 9) | 771 | 411 | 2,785 | |
Investment written-off | 362 | |||
Impairment of investments (Notes 10 and 11) | ₱ 439 | 172 | 2,562 | 5,515 |
Core income adjustment on equity share in net losses of associates and joint ventures | 23 | 60 | 95 | |
Net income attributable to noncontrolling interests | (57) | (95) | (156) | |
Other nonrecurring income | (1,018) | |||
Gains on derivative financial instruments – net, excluding hedge costs (Note 27) | (1,135) | (724) | (1,539) | |
Net tax effect of aforementioned adjustments | (1,779) | (4,741) | (79) | |
Total adjustments | 6,882 | 14,202 | 7,695 | |
Consolidated core income | ₱ 25,855 | ₱ 27,668 | ₱ 27,857 |
Operating Segment Information_5
Operating Segment Information - Summary of Reconciliation of Consolidated Basic and Diluted Core EPS to Consolidated Basic and Diluted EPS Attributable to Common Equity Holder of PLDT (Detail) - ₱ / shares | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure Of Operating Segments [Abstract] | |||
Consolidated core EPS, basic | ₱ 119.39 | ₱ 127.79 | ₱ 128.66 |
Add (deduct) adjustments, basic: | |||
Gains on derivative financial instruments net, excluding hedge costs, basic | 4.08 | 2.34 | 4.99 |
Core income adjustment on equity share in net losses associates and joint ventures, basic | (0.11) | (0.28) | (0.44) |
Impairment of investment, basic | (0.80) | (11.86) | (25.52) |
Investment written-off, basic | (1.68) | ||
Foreign exchange losses net, basic | (3.57) | (1.74) | (10.40) |
Loss in fair value of investments, basic | (5.34) | ||
MRP, basic | (5.52) | ||
Asset impairment, basic | (9.82) | (13.12) | (4.96) |
Depreciation due to shortened life of property and equipment, basic | (14.06) | (41.52) | |
Other non-recurring income and others, basic | 4.71 | ||
Total adjustments,basic | (32.11) | (66.18) | (36.33) |
Consolidated EPS attributable to common equity holders of PLDT, basic | 87.28 | 61.61 | 92.33 |
Consolidated core EPS, diluted | 119.39 | 127.79 | 128.66 |
Add (deduct) adjustments, diluted: | |||
Gains on derivative financial instruments net, excluding hedge costs, diluted | 4.08 | 2.34 | 4.99 |
Core income adjustment on equity share in net losses associates and joint ventures, diluted | (0.11) | (0.28) | (0.44) |
Impairment of investment | (0.80) | (11.86) | (25.52) |
Investment written-off, diluted | (1.68) | ||
Foreign exchange losses net, diluted | (3.57) | (1.74) | (10.40) |
Loss in fair value of investments, diluted | (5.34) | ||
MRP, diluted | (5.52) | ||
Asset impairment, diluted | (9.82) | (13.12) | (4.96) |
Depreciation due to shortened life of property and equipment, diluted | (14.06) | (41.52) | |
Other non-recurring income and others, diluted | 4.71 | ||
Total adjustments, diluted | (32.11) | (66.18) | (36.33) |
Consolidated EPS attributable to common equity holders of PLDT, diluted | ₱ 87.28 | ₱ 61.61 | ₱ 92.33 |
Operating Segment Information_6
Operating Segment Information - Summary of Revenues from External Customers by Category of Products and Services (Detail) - PHP (₱) ₱ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure Of Operating Segments [Line Items] | |||
Service revenues (Note 5) | ₱ 154,207 | ₱ 151,165 | ₱ 157,210 |
Non-service revenues | 10,545 | 8,761 | 8,052 |
Revenues | 164,752 | 159,926 | 165,262 |
Wireless [Member] | |||
Disclosure Of Operating Segments [Line Items] | |||
Service revenues (Note 5) | 80,265 | 86,128 | 98,406 |
Revenues | 87,193 | 91,288 | 102,639 |
Wireless [Member] | Mobile [member] | |||
Disclosure Of Operating Segments [Line Items] | |||
Service revenues (Note 5) | 79,904 | 83,166 | 95,066 |
Wireless [Member] | Home broadband [member] | |||
Disclosure Of Operating Segments [Line Items] | |||
Service revenues (Note 5) | 155 | 2,547 | 2,758 |
Wireless [Member] | MVNO and others [member] | |||
Disclosure Of Operating Segments [Line Items] | |||
Service revenues (Note 5) | 206 | 415 | 582 |
Wireless [Member] | Sale of mobile handsets and broadband data modems [member] | |||
Disclosure Of Operating Segments [Line Items] | |||
Non-service revenues | 6,928 | 5,160 | 4,233 |
Fixed Line [Member] | |||
Disclosure Of Operating Segments [Line Items] | |||
Service revenues (Note 5) | 72,858 | 63,811 | 58,086 |
Non-service revenues | 3,573 | 3,578 | 3,720 |
Revenues | 76,431 | 67,389 | 61,806 |
Fixed Line [Member] | Voice [member] | |||
Disclosure Of Operating Segments [Line Items] | |||
Service revenues (Note 5) | 22,986 | 25,296 | 25,502 |
Fixed Line [Member] | Data [member] | |||
Disclosure Of Operating Segments [Line Items] | |||
Service revenues (Note 5) | 48,858 | 37,445 | 31,727 |
Fixed Line [Member] | Miscellaneous [member] | |||
Disclosure Of Operating Segments [Line Items] | |||
Service revenues (Note 5) | 1,014 | 1,070 | 857 |
Fixed Line [Member] | Sale of computers, phone units and SIM cards [member] | |||
Disclosure Of Operating Segments [Line Items] | |||
Non-service revenues | 3,056 | 2,706 | 2,907 |
Fixed Line [Member] | Point-product-sales [member] | |||
Disclosure Of Operating Segments [Line Items] | |||
Non-service revenues | 517 | 872 | 813 |
All other services segments [Member] | |||
Disclosure Of Operating Segments [Line Items] | |||
Service revenues (Note 5) | ₱ 1,128 | ₱ 1,249 | ₱ 817 |
Income and Expenses - Summary o
Income and Expenses - Summary of Revenue from Contracts with Customers (Detail) ₱ in Millions | 12 Months Ended |
Dec. 31, 2018PHP (₱) | |
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items] | |
Total revenue from contracts with customers | ₱ 164,752 |
Inter-segment [Member] | |
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items] | |
Total revenue from contracts with customers | (11,537) |
Service Revenue [Member] | |
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items] | |
Total revenue from contracts with customers | 154,207 |
Service Revenue [Member] | Inter-segment [Member] | |
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items] | |
Total revenue from contracts with customers | (11,536) |
Non-service Revenue [Member] | |
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items] | |
Total revenue from contracts with customers | 10,545 |
Non-service Revenue [Member] | Inter-segment [Member] | |
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items] | |
Total revenue from contracts with customers | (1) |
Transferred over Time [Member] | |
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items] | |
Total revenue from contracts with customers | 154,207 |
Transferred over Time [Member] | Inter-segment [Member] | |
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items] | |
Total revenue from contracts with customers | (11,536) |
Transferred at a Point Time [Member] | |
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items] | |
Total revenue from contracts with customers | 10,545 |
Transferred at a Point Time [Member] | Inter-segment [Member] | |
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items] | |
Total revenue from contracts with customers | (1) |
Wireless [Member] | Operating Segments [Member] | |
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items] | |
Total revenue from contracts with customers | 89,929 |
Wireless [Member] | Service Revenue [Member] | Operating Segments [Member] | |
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items] | |
Total revenue from contracts with customers | 83,001 |
Wireless [Member] | Non-service Revenue [Member] | Operating Segments [Member] | |
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items] | |
Total revenue from contracts with customers | 6,928 |
Wireless [Member] | Transferred over Time [Member] | Operating Segments [Member] | |
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items] | |
Total revenue from contracts with customers | 83,001 |
Wireless [Member] | Transferred at a Point Time [Member] | Operating Segments [Member] | |
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items] | |
Total revenue from contracts with customers | 6,928 |
Fixed Line [Member] | Operating Segments [Member] | |
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items] | |
Total revenue from contracts with customers | 85,222 |
Fixed Line [Member] | Service Revenue [Member] | Operating Segments [Member] | |
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items] | |
Total revenue from contracts with customers | 81,648 |
Fixed Line [Member] | Non-service Revenue [Member] | Operating Segments [Member] | |
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items] | |
Total revenue from contracts with customers | 3,574 |
Fixed Line [Member] | Transferred over Time [Member] | Operating Segments [Member] | |
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items] | |
Total revenue from contracts with customers | 81,648 |
Fixed Line [Member] | Transferred at a Point Time [Member] | Operating Segments [Member] | |
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items] | |
Total revenue from contracts with customers | 3,574 |
Others [Member] | Operating Segments [Member] | |
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items] | |
Total revenue from contracts with customers | 1,138 |
Others [Member] | Service Revenue [Member] | Operating Segments [Member] | |
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items] | |
Total revenue from contracts with customers | 1,094 |
Others [Member] | Non-service Revenue [Member] | Operating Segments [Member] | |
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items] | |
Total revenue from contracts with customers | 44 |
Others [Member] | Transferred over Time [Member] | Operating Segments [Member] | |
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items] | |
Total revenue from contracts with customers | 1,094 |
Others [Member] | Transferred at a Point Time [Member] | Operating Segments [Member] | |
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items] | |
Total revenue from contracts with customers | ₱ 44 |
Income and Expenses - Summary_2
Income and Expenses - Summary of Contract Balances (Detail) - PHP (₱) ₱ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure Of Contract Balances [Abstract] | ||
Trade and other receivables | ₱ 40,559 | ₱ 48,262 |
Contract assets | 3,399 | |
Contract liabilities and unearned revenues | ₱ 7,182 | ₱ 8,363 |
Income and Expenses - Additiona
Income and Expenses - Additional Information (Detail) - PHP (₱) ₱ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Analysis Of Contract Balances [Abstract] | ||
Decrease in trade and other receivables | ₱ 7,703 | |
Decrease in contract assets | 481 | |
Contract liabilities and unearned revenues | 1,181 | |
Current portion of contract liabilities and unearned revenues | 6,650 | ₱ 8,039 |
Noncurrent portion of contract liabilities and unearned revenues | ₱ 532 | ₱ 324 |
Income and Expenses - Summary_3
Income and Expenses - Summary of Movement in Allowance for Expected Credit Losses of Contracts Assets (Detail) ₱ in Millions | 12 Months Ended |
Dec. 31, 2018PHP (₱) | |
Movement In Allowance For Expected Credit Losses Of Contract Assets [Abstract] | |
Balance at beginning of the year | ₱ 114 |
Provisions during the year | 17 |
Balance at end of the year | ₱ 131 |
Income and Expenses - Summary_4
Income and Expenses - Summary of Changes in Contract Liabilities and Unearned Revenues Accounts (Detail) ₱ in Millions | 12 Months Ended |
Dec. 31, 2018PHP (₱) | |
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items] | |
Balances as at January 1, 2018, as restated | ₱ 8,363 |
Deferred during the year | 102,288 |
Recognized as revenue during the year | (103,647) |
Balance at end of the year | 7,182 |
IFRS 15 [Member] | |
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items] | |
Balances as at January 1, 2018, as restated | ₱ 8,541 |
Income and Expenses - Summary_5
Income and Expenses - Summary of Contract Liabilities and Unearnrd Revenues Account (Detail) - PHP (₱) ₱ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Offsetting Liabilities [Line Items] | ||
Contract liabilities and unearned revenues | ₱ 7,182 | ₱ 8,363 |
Contract liabilities: | ||
Current | 87 | |
Noncurrent | 58 | |
Current | 6,563 | |
Noncurrent | 474 | |
Long-term advances from postpaid subscribers [member] | ||
Offsetting Liabilities [Line Items] | ||
Contract liabilities and unearned revenues | 145 | |
Short-term advances for installatin services [member] | ||
Offsetting Liabilities [Line Items] | ||
Contract liabilities and unearned revenues | 558 | |
Leased facilities [member] | ||
Offsetting Liabilities [Line Items] | ||
Contract liabilities and unearned revenues | 34 | |
Advance Monthly Service Fees | ||
Offsetting Liabilities [Line Items] | ||
Contract liabilities and unearned revenues | 2,386 | |
Unearned revenues from prepaid contracts [member] | ||
Offsetting Liabilities [Line Items] | ||
Unearned revenues from prepaid contracts | ₱ 4,059 |
Income and Expenses - Summary_6
Income and Expenses - Summary of Selling, General and Administrative Expenses (Detail) - PHP (₱) ₱ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Analysis Of Income And Expense [Abstract] | |||
Compensation and employee benefits | ₱ 23,543 | ₱ 22,782 | ₱ 19,928 |
Repairs and maintenance (Notes 13, 17 and 24) | 14,331 | 12,744 | 14,706 |
Professional and other contracted services (Note 24) | 12,809 | 12,168 | 9,386 |
Rent (Note 24) | 7,321 | 7,016 | 6,632 |
Selling and promotions (Note 24) | 6,340 | 5,908 | 7,687 |
Taxes and licenses (Note 26) | 4,974 | 3,970 | 3,782 |
Insurance and security services (Note 24) | 1,499 | 1,519 | 1,736 |
Communication, training and travel (Note 24) | 1,069 | 1,166 | 1,249 |
Amortization of intangible assets (Notes 5 and 14) | 892 | 835 | 929 |
Other expenses | 1,138 | 882 | 1,161 |
Total selling, general and administrative expenses | ₱ 73,916 | ₱ 68,990 | ₱ 67,196 |
Income and Expenses - Summary_7
Income and Expenses - Summary of Compensation and Employee Benefits (Detail) - PHP (₱) ₱ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Analysis Of Income And Expense [Abstract] | |||
Salaries and other employee benefits | ₱ 19,777 | ₱ 18,598 | ₱ 17,734 |
Pension benefit costs (Note 25) | 1,855 | 1,610 | 1,775 |
Manpower rightsizing program, or MRP | 1,703 | 1,747 | 419 |
Incentive plan (Note 25) | 208 | 827 | |
Total compensation and employee benefits | ₱ 23,543 | ₱ 22,782 | ₱ 19,928 |
Income and Expenses - Summary_8
Income and Expenses - Summary of Cost of Sales and Services (Detail) - PHP (₱) ₱ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Analysis Of Income And Expense [Abstract] | |||
Cost of computers, mobile handsets and broadband data modems (Note 17) | ₱ 10,513 | ₱ 10,277 | ₱ 16,053 |
Cost of services (Note 17) | 3,429 | 2,572 | 1,540 |
Cost of point-product-sales (Note 17) | 485 | 784 | 700 |
Total cost of sales and services | ₱ 14,427 | ₱ 13,633 | ₱ 18,293 |
Income and Expenses - Summary_9
Income and Expenses - Summary of Asset Impairment (Detail) - PHP (₱) ₱ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Analysis Of Income And Expense [Abstract] | |||
Trade and other receivables (Note 16) | ₱ 4,192 | ₱ 3,438 | ₱ 8,027 |
Property and equipment (Note 9) | 1,958 | 3,913 | |
Inventories and supplies (Note 17) | 1,528 | 907 | 1,941 |
Contract assets | 223 | ||
Goodwill and intangible assets (Note 14) | 1,038 | ||
Other assets | 164 | 36 | |
Total asset impairment | ₱ 8,065 | ₱ 8,258 | ₱ 11,042 |
Income and Expenses - Summar_10
Income and Expenses - Summary of Other Income (Expenses) - Net (Detail) - PHP (₱) ₱ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Analysis Of Income And Expense [Abstract] | |||
Gain on deconsolidation of VIH (Note 2) | ₱ 12,054 | ||
Interest income | 1,943 | ₱ 1,412 | ₱ 1,046 |
Gains on derivative financial instruments – net (Note 27) | 1,086 | 533 | 996 |
Equity share in net earnings (losses) of associates and joint ventures | (87) | 2,906 | 1,181 |
Foreign exchange losses – net (Note 9 ) | (771) | (411) | (2,785) |
Financing costs | (7,067) | (7,370) | (7,354) |
Others – net (Notes 10, 11 and 13) | 1,884 | 7,988 | 4,284 |
Total other income (expenses) – net | ₱ 9,042 | ₱ 5,058 | ₱ (2,632) |
Income and Expenses - Summar_11
Income and Expenses - Summary of Interest Income (Detail) - PHP (₱) ₱ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Analysis Of Income And Expense [Abstract] | |||
Interest income on financial instruments at amortized cost (Notes 12 and 15) | ₱ 1,486 | ||
Interest income arising from revenue contracts with customers | 457 | ||
Interest income on loans and receivables (Notes 15 and 16) | ₱ 1,404 | ₱ 980 | |
Interest income on HTM investments (Note 12) | 8 | 36 | |
Interest income on financial instruments at FVPL | 30 | ||
Total interest income | ₱ 1,943 | ₱ 1,412 | ₱ 1,046 |
Income and Expenses - Summar_12
Income and Expenses - Summary of Financing Costs (Detail) - PHP (₱) ₱ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Analysis Of Income And Expense [Abstract] | |||
Interest on loans and other related items (Notes 20 and 27) | ₱ 8,307 | ₱ 7,830 | ₱ 7,522 |
Accretion on financial liabilities (Note 20) | 145 | 219 | 230 |
Financing charges | 139 | 137 | 168 |
Capitalized interest (Note 9) | (1,524) | (816) | (566) |
Total financing costs | ₱ 7,067 | ₱ 7,370 | ₱ 7,354 |
Components of Other Comprehen_3
Components of Other Comprehensive Loss - Summary of Changes in Other Comprehensive Loss (Detail) - PHP (₱) ₱ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure Of Analysis Of Other Comprehensive Income By Item [Line Items] | |||
Beginning balance | ₱ 111,183 | ₱ 108,537 | ₱ 113,898 |
Other comprehensive income (loss) | (1,407) | 2,186 | (2,454) |
Ending balance | 116,666 | 111,183 | 108,537 |
Foreign currency translation differences of subsidiaries [Member] | |||
Disclosure Of Analysis Of Other Comprehensive Income By Item [Line Items] | |||
Beginning balance | 583 | 608 | 524 |
Other comprehensive income (loss) | 112 | (25) | 84 |
Ending balance | 695 | 583 | 608 |
Foreign currency translation differences of subsidiaries [Member] | Restated [Member] | |||
Disclosure Of Analysis Of Other Comprehensive Income By Item [Line Items] | |||
Beginning balance | 583 | ||
Ending balance | 583 | ||
Net gains (losses) on available-for-sale financial investments - net of tax [Member] | |||
Disclosure Of Analysis Of Other Comprehensive Income By Item [Line Items] | |||
Beginning balance | 4,300 | 936 | 76 |
Other comprehensive income (loss) | 3,364 | 860 | |
Ending balance | (9) | 4,300 | 936 |
Net gains (losses) on available-for-sale financial investments - net of tax [Member] | Change on Initial Application of IFRS 9 [Member] | |||
Disclosure Of Analysis Of Other Comprehensive Income By Item [Line Items] | |||
Beginning balance | (4,309) | ||
Ending balance | (4,309) | ||
Net gains (losses) on available-for-sale financial investments - net of tax [Member] | Restated [Member] | |||
Disclosure Of Analysis Of Other Comprehensive Income By Item [Line Items] | |||
Beginning balance | (9) | ||
Ending balance | (9) | ||
Net transactions on cash flow hedges - net of tax [Member] | |||
Disclosure Of Analysis Of Other Comprehensive Income By Item [Line Items] | |||
Beginning balance | (369) | 7 | (3) |
Other comprehensive income (loss) | (271) | (376) | 10 |
Ending balance | (640) | (369) | 7 |
Net transactions on cash flow hedges - net of tax [Member] | Restated [Member] | |||
Disclosure Of Analysis Of Other Comprehensive Income By Item [Line Items] | |||
Beginning balance | (369) | ||
Ending balance | (369) | ||
Revaluation increment on investment properties - net of tax [Member] | |||
Disclosure Of Analysis Of Other Comprehensive Income By Item [Line Items] | |||
Beginning balance | 620 | 619 | 602 |
Other comprehensive income (loss) | (2) | 1 | 17 |
Ending balance | 618 | 620 | 619 |
Revaluation increment on investment properties - net of tax [Member] | Restated [Member] | |||
Disclosure Of Analysis Of Other Comprehensive Income By Item [Line Items] | |||
Beginning balance | 620 | ||
Ending balance | 620 | ||
Actuarial losses on defined benefit plans - net of tax [Member] | |||
Disclosure Of Analysis Of Other Comprehensive Income By Item [Line Items] | |||
Beginning balance | (24,467) | (23,376) | (19,805) |
Other comprehensive income (loss) | (1,222) | (1,091) | (3,571) |
Ending balance | (25,689) | (24,467) | (23,376) |
Actuarial losses on defined benefit plans - net of tax [Member] | Restated [Member] | |||
Disclosure Of Analysis Of Other Comprehensive Income By Item [Line Items] | |||
Beginning balance | (24,467) | ||
Ending balance | (24,467) | ||
Share of other comprehensive income loss of associates and joint ventures accounted for using the equity method [Member] | |||
Disclosure Of Analysis Of Other Comprehensive Income By Item [Line Items] | |||
Beginning balance | 182 | 312 | 404 |
Other comprehensive income (loss) | 306 | 151 | |
Recycled to retained earnings | (436) | (243) | |
Ending balance | 182 | 312 | |
Share of other comprehensive income loss of associates and joint ventures accounted for using the equity method [Member] | Change on Initial Application of IFRS 9 [Member] | |||
Disclosure Of Analysis Of Other Comprehensive Income By Item [Line Items] | |||
Beginning balance | (182) | ||
Ending balance | (182) | ||
Financial assets at fair value through other comprehensive income, category [member] | |||
Disclosure Of Analysis Of Other Comprehensive Income By Item [Line Items] | |||
Other comprehensive income (loss) | (29) | ||
Ending balance | (165) | ||
Financial assets at fair value through other comprehensive income, category [member] | Change on Initial Application of IFRS 9 [Member] | |||
Disclosure Of Analysis Of Other Comprehensive Income By Item [Line Items] | |||
Beginning balance | (136) | ||
Ending balance | (136) | ||
Financial assets at fair value through other comprehensive income, category [member] | Restated [Member] | |||
Disclosure Of Analysis Of Other Comprehensive Income By Item [Line Items] | |||
Beginning balance | (136) | ||
Ending balance | (136) | ||
Aoci Including Portion Attributable To Noncontrolling Interest [Member] | |||
Disclosure Of Analysis Of Other Comprehensive Income By Item [Line Items] | |||
Beginning balance | (19,151) | (20,894) | (18,202) |
Other comprehensive income (loss) | (1,412) | 2,179 | (2,449) |
Recycled to retained earnings | (436) | (243) | |
Ending balance | (25,190) | (19,151) | (20,894) |
Aoci Including Portion Attributable To Noncontrolling Interest [Member] | Change on Initial Application of IFRS 9 [Member] | |||
Disclosure Of Analysis Of Other Comprehensive Income By Item [Line Items] | |||
Beginning balance | (4,627) | ||
Ending balance | (4,627) | ||
Aoci Including Portion Attributable To Noncontrolling Interest [Member] | Restated [Member] | |||
Disclosure Of Analysis Of Other Comprehensive Income By Item [Line Items] | |||
Beginning balance | (23,778) | ||
Ending balance | (23,778) | ||
Share of noncontrolling interests [Member] | |||
Disclosure Of Analysis Of Other Comprehensive Income By Item [Line Items] | |||
Beginning balance | 14 | 7 | 12 |
Other comprehensive income (loss) | 5 | 7 | (5) |
Ending balance | 19 | 14 | 7 |
Share of noncontrolling interests [Member] | Restated [Member] | |||
Disclosure Of Analysis Of Other Comprehensive Income By Item [Line Items] | |||
Beginning balance | 14 | ||
Ending balance | 14 | ||
Aoci Including Portion Attributable To Noncontrolling Interest [Member] | |||
Disclosure Of Analysis Of Other Comprehensive Income By Item [Line Items] | |||
Beginning balance | (19,137) | (20,887) | (18,190) |
Other comprehensive income (loss) | (1,407) | 2,186 | (2,454) |
Recycled to retained earnings | (436) | (243) | |
Ending balance | (25,171) | (19,137) | ₱ (20,887) |
Aoci Including Portion Attributable To Noncontrolling Interest [Member] | Change on Initial Application of IFRS 9 [Member] | |||
Disclosure Of Analysis Of Other Comprehensive Income By Item [Line Items] | |||
Beginning balance | (4,627) | ||
Ending balance | (4,627) | ||
Aoci Including Portion Attributable To Noncontrolling Interest [Member] | Restated [Member] | |||
Disclosure Of Analysis Of Other Comprehensive Income By Item [Line Items] | |||
Beginning balance | ₱ (23,764) | ||
Ending balance | ₱ (23,764) |
Income Taxes - Summary of Major
Income Taxes - Summary of Major Components of Consolidated Net Deferred Income Tax Assets and Liabilities (Detail) - PHP (₱) ₱ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Major Components Of Tax Expense Income [Abstract] | |||
Net deferred income tax assets | ₱ 27,697 | ₱ 30,466 | ₱ 27,348 |
Net deferred income tax liabilities | ₱ 2,981 | ₱ 3,366 | ₱ 3,567 |
Income Taxes - Summary of Compo
Income Taxes - Summary of Components of Net Deferred Income Tax Assets and Liabilities (Detail) - PHP (₱) ₱ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Net deferred income tax assets | ₱ 27,697 | ₱ 30,466 | ₱ 27,348 |
Net deferred income tax liabilities | 2,981 | 3,366 | 3,567 |
Deferred income tax liabilities (Note 7) | 2,981 | 3,366 | ₱ 3,567 |
Unamortized past service pension costs [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Net deferred income tax assets | 5,252 | 5,098 | |
NOLCO [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Net deferred income tax assets | 3,231 | 243 | |
Customer list and trademark [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Net deferred income tax assets | 4,670 | 6,760 | |
Accumulated provision for expected credit losses/doubtful accounts [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Net deferred income tax assets | 3,709 | 3,102 | |
Pension and other employee benefits [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Net deferred income tax assets | 4,296 | 3,620 | |
Unearned revenues [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Net deferred income tax assets | 1,776 | 1,778 | |
Provision for other assets [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Net deferred income tax assets | 1,595 | 2,523 | |
Unrealized foreign exchange gains (losses) [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Net deferred income tax assets | 1,092 | 746 | |
Net deferred income tax liabilities | 366 | 269 | |
Deferred income tax liabilities (Note 7) | 366 | 269 | |
Accumulated provision for inventory obsolescence and write-down [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Net deferred income tax assets | 916 | 669 | |
MCIT [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Net deferred income tax assets | 905 | 607 | |
Fixed asset impairment/depreciation due to shortened life of property and equipment [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Net deferred income tax assets | 1,870 | 5,597 | |
Derivative financial instruments [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Net deferred income tax assets | (58) | (30) | |
Others [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Net deferred income tax assets | (1,557) | (247) | |
Intangible assets and fair value adjustment on assets acquired - net of amortization [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Net deferred income tax liabilities | 2,175 | 2,387 | |
Deferred income tax liabilities (Note 7) | 2,175 | 2,387 | |
Investment property [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Net deferred income tax liabilities | 277 | 207 | |
Deferred income tax liabilities (Note 7) | 277 | 207 | |
Undepreciated capitalized interest charges [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Net deferred income tax liabilities | 7 | 8 | |
Deferred income tax liabilities (Note 7) | 7 | 8 | |
Unamortized fair value adjustment on fixed assets from business combination [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Net deferred income tax liabilities | 338 | ||
Deferred income tax liabilities (Note 7) | 338 | ||
Other liabilities [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Net deferred income tax liabilities | 156 | 157 | |
Deferred income tax liabilities (Note 7) | ₱ 156 | ₱ 157 |
Income Taxes - Summary of Chang
Income Taxes - Summary of Changes in Consolidated Net Deferred Income Tax Assets (Liabilities) (Detail) - PHP (₱) ₱ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Major Components Of Tax Expense Income [Abstract] | |||
Net deferred income tax assets – balance at beginning of the year | ₱ 30,466 | ₱ 27,348 | |
Net deferred income tax liabilities – balance at beginning of the year | (3,366) | (3,567) | |
Net balance at beginning of the year | 27,100 | 23,781 | |
Movement charged directly to other comprehensive income | 591 | 507 | |
Excess MCIT deducted against RCIT due | (370) | ||
Adjustments due to adoption of IFRS 15 | (1,166) | ||
Benefit from (provision for) deferred income tax | (1,375) | 2,738 | ₱ 4,134 |
Others | (64) | 74 | |
Net balance at end of the year | 24,716 | 27,100 | 23,781 |
Net deferred income tax assets – balance at end of the year | 27,697 | 30,466 | 27,348 |
Net deferred income tax liabilities – balance at end of the year | ₱ (2,981) | ₱ (3,366) | ₱ (3,567) |
Income Taxes - Summary of Analy
Income Taxes - Summary of Analysis of Net Deferred Income Tax Assets (Detail) - PHP (₱) ₱ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Deferred income tax assets | ₱ 27,697 | ₱ 30,466 | ₱ 27,348 |
Net deferred income tax assets | 27,697 | 30,466 | ₱ 27,348 |
Costs [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Deferred income tax assets | 30,035 | 31,848 | |
Net deferred income tax assets | (2,338) | (1,382) | |
Costs [Member] | After 12 months [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Deferred income tax assets | 25,163 | 26,246 | |
Net deferred income tax assets | (1,992) | (1,206) | |
Costs [Member] | Within 12 months [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Deferred income tax assets | 4,872 | 5,602 | |
Net deferred income tax assets | ₱ (346) | ₱ (176) |
Income Taxes - Summary of Ana_2
Income Taxes - Summary of Analysis of Net Deferred Income Tax Liabilities (Detail) - PHP (₱) ₱ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Deferred income tax liabilities | ₱ (2,981) | ₱ (3,366) | ₱ (3,567) |
Costs [Member] | After 12 months [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Deferred income tax liabilities | (2,743) | (3,026) | |
Costs [Member] | Within 12 months [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |||
Deferred income tax liabilities | ₱ (238) | ₱ (340) |
Income Taxes - Summary of Provi
Income Taxes - Summary of Provision for Income Tax (Detail) - PHP (₱) ₱ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Major Components Of Tax Expense Income [Abstract] | |||
Current | ₱ 2,467 | ₱ 3,841 | ₱ 6,043 |
Benefit from deferred income taxes | 1,375 | (2,738) | (4,134) |
Actual provision for corporate income tax | ₱ 3,842 | ₱ 1,103 | ₱ 1,909 |
Income Taxes - Summary of Recon
Income Taxes - Summary of Reconciliation Between the Provision for Income Tax at the Applicable Statutory Tax Rate and the Actual Provision for Corporate Income Tax (Details) - PHP (₱) ₱ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Major Components Of Tax Expense Income [Abstract] | |||
Provision for income tax at the applicable statutory tax rate | ₱ 6,845 | ₱ 4,371 | ₱ 6,621 |
Tax effects of: | |||
Nondeductible expenses | 1,235 | 784 | 3,239 |
Equity share in net losses (earnings) of associates and joint ventures | 26 | (872) | (354) |
Difference between Optional Standard Deduction, or OSD, and itemized deductions | (22) | (22) | (20) |
Income subject to final tax | (297) | (2,545) | (2,879) |
Income subject to lower tax rate | (750) | (520) | (168) |
Income not subject to income tax | (1,827) | (301) | (35) |
Net movement in unrecognized deferred income tax assets and other adjustments | (1,368) | 208 | (4,495) |
Actual provision for corporate income tax | ₱ 3,842 | ₱ 1,103 | ₱ 1,909 |
Income Taxes - Summary of Amoun
Income Taxes - Summary of Amount of Unrecognized Deferred Income Tax Assets (Details) - PHP (₱) ₱ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | ||
Deductible temporary differences for which no deferred tax asset is recognized | ₱ 10,693 | ₱ 18,276 |
Consolidated unrecognized deferred income tax assets | 3,227 | 5,561 |
NOLCO [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | ||
Deductible temporary differences for which no deferred tax asset is recognized | 4,289 | 7,151 |
Accumulated provision for doubtful accounts [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | ||
Deductible temporary differences for which no deferred tax asset is recognized | 3,144 | 3,014 |
Provision for other assets [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | ||
Deductible temporary differences for which no deferred tax asset is recognized | 1,881 | 3,735 |
Impairment Allowance | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | ||
Deductible temporary differences for which no deferred tax asset is recognized | 1,148 | 43 |
Pension and other employee benefits [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | ||
Deductible temporary differences for which no deferred tax asset is recognized | 13 | 1,740 |
Asset retirement obligation [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | ||
Deductible temporary differences for which no deferred tax asset is recognized | 621 | |
Unearned revenues [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | ||
Deductible temporary differences for which no deferred tax asset is recognized | 25 | 1,314 |
Gain on disposal of asset [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | ||
Deductible temporary differences for which no deferred tax asset is recognized | 106 | |
Unrealized foreign exchange losses [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | ||
Deductible temporary differences for which no deferred tax asset is recognized | 49 | 105 |
MCIT [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | ||
Deductible temporary differences for which no deferred tax asset is recognized | 27 | 111 |
Accumulated Writedown Of Inventories To Net Realizable Values | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | ||
Deductible temporary differences for which no deferred tax asset is recognized | ₱ 11 | 303 |
Derivative financial instruments and others [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | ||
Deductible temporary differences for which no deferred tax asset is recognized | ₱ 139 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - PHP (₱) ₱ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure Of Other Income Expense [Line Items] | |||
Consolidated unrecognized deferred income tax assets | ₱ 3,227 | ₱ 5,561 | |
MCIT | 932 | ||
Excess MCIT deducted against RCIT | 488 | 15 | |
Expired portion of excess MCIT | 1 | 72 | 232 |
Excess MCIT derecognized | 8 | ||
NOLCO | 15,060 | ||
Deduction against taxable income | 1,094 | 4,241 | 8,531 |
Expired portion of excess NOLCO | 1,272 | 354 | ₱ 571 |
Excess NOLCO derecognized | 2,518 | ||
Digitel and DMPI [Member] | |||
Disclosure Of Other Income Expense [Line Items] | |||
Consolidated unrecognized deferred income tax assets | ₱ 1,421 | ₱ 2,798 | |
Subic Tel and Clark Tel [Member] | |||
Disclosure Of Other Income Expense [Line Items] | |||
Special income tax rate as percentage of gross sales | 5.00% |
Income Taxes - Summary of Break
Income Taxes - Summary of Breakdown of Consolidated Excess MCIT and NOLCO (Detail) ₱ in Millions | 12 Months Ended |
Dec. 31, 2018PHP (₱) | |
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |
MCIT | ₱ 932 |
Consolidated tax benefits, MCIT | 932 |
Consolidated unrecognized deferred income tax assets, MCIT | (27) |
Consolidated recognized deferred income tax assets, MCIT | 905 |
NOLCO | 15,060 |
Consolidated tax benefits, NOLCO | 4,518 |
Consolidated unrecognized deferred income tax assets, NOLCO | (1,287) |
Consolidated recognized deferred income tax assets, NOLCO | ₱ 3,231 |
December 31, 2016 [Member] | |
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |
Expiry Date | Dec. 31, 2019 |
MCIT | ₱ 108 |
NOLCO | ₱ 1,133 |
December 31, 2017 [Member] | |
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |
Expiry Date | Dec. 31, 2020 |
MCIT | ₱ 113 |
NOLCO | ₱ 2,203 |
December 31, 2018 [Member] | |
Disclosure of temporary difference, unused tax losses and unused tax credits [Line Items] | |
Expiry Date | Dec. 31, 2021 |
MCIT | ₱ 711 |
NOLCO | ₱ 11,724 |
Earnings Per Common Share - Sum
Earnings Per Common Share - Summary of Information Necessary to Calculate EPS (Detail) - PHP (₱) ₱ / shares in Units, shares in Thousands, ₱ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Earnings Per Share [Abstract] | |||
Consolidated net income attributable to equity holders of PLDT, basic | ₱ 18,916 | ₱ 13,371 | ₱ 20,006 |
Dividends on preferred shares, basic | (59) | (59) | (59) |
Consolidated net income attributable to common equity holders of PLDT, basic | ₱ 18,857 | ₱ 13,312 | ₱ 19,947 |
Weighted average number of common shares, basic | 216,056 | 216,056 | 216,056 |
EPS attributable to common equity holders of PLDT, basic | ₱ 87.28 | ₱ 61.61 | ₱ 92.33 |
Consolidated net income attributable to equity holders of PLDT, diluted | ₱ 18,916 | ₱ 13,371 | ₱ 20,006 |
Dividends on preferred shares, diluted | (59) | (59) | (59) |
Consolidated net income attributable to common equity holders of PLDT, diluted | ₱ 18,857 | ₱ 13,312 | ₱ 19,947 |
Weighted average number of common shares, diluted | 216,056 | 216,056 | 216,056 |
EPS attributable to common equity holders of PLDT, diluted | ₱ 87.28 | ₱ 61.61 | ₱ 92.33 |
Property and Equipment - Summar
Property and Equipment - Summary of Changes in Property and Equipment Account (Detail) - PHP (₱) ₱ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure Of Property Plant And Equipment [Line Items] | |||
Net book value at beginning of the year | ₱ 186,907 | ₱ 203,188 | |
Additions (Note 4) | 58,490 | 40,299 | |
Disposals/Retirements | (341) | (619) | |
Reclassifications (Note 13) | 1,239 | (125) | |
Impairment losses recognized during the year (Note 5) | (1,958) | (3,913) | |
Translation differences charged directly to cumulative translation adjustments | 1 | (6) | |
Deconsolidation of asubsidiary | (1,132) | ||
Depreciation of revaluation increment on investment properties transferred to property and equipment charged to other comprehensive income | (2) | (2) | |
Depreciation and amortization | (47,240) | (51,915) | ₱ (34,455) |
Net book value at end of the year | 195,964 | 186,907 | 203,188 |
Costs [Member] | |||
Disclosure Of Property Plant And Equipment [Line Items] | |||
Net book value at beginning of the year | 694,044 | 665,653 | |
Net book value at end of the year | 714,037 | 694,044 | 665,653 |
Accumulated depreciation, impairment and amortization [Member] | |||
Disclosure Of Property Plant And Equipment [Line Items] | |||
Net book value at beginning of the year | (507,137) | (462,465) | |
Net book value at end of the year | (518,073) | (507,137) | (462,465) |
Cable and wire facilities [Member] | |||
Disclosure Of Property Plant And Equipment [Line Items] | |||
Net book value at beginning of the year | 47,455 | 48,030 | |
Additions (Note 4) | 1,278 | 3,410 | |
Disposals/Retirements | (10) | (8) | |
Reclassifications (Note 13) | 19 | 5 | |
Impairment losses recognized during the year (Note 5) | (299) | ||
Transfers and others | 10,409 | 7,612 | |
Depreciation and amortization | (11,381) | (11,594) | |
Net book value at end of the year | 47,471 | 47,455 | 48,030 |
Cable and wire facilities [Member] | Costs [Member] | |||
Disclosure Of Property Plant And Equipment [Line Items] | |||
Net book value at beginning of the year | 207,220 | 196,652 | |
Net book value at end of the year | 217,773 | 207,220 | 196,652 |
Cable and wire facilities [Member] | Accumulated depreciation, impairment and amortization [Member] | |||
Disclosure Of Property Plant And Equipment [Line Items] | |||
Net book value at beginning of the year | (159,765) | (148,622) | |
Net book value at end of the year | (170,302) | (159,765) | (148,622) |
Central office equipment [Member] | |||
Disclosure Of Property Plant And Equipment [Line Items] | |||
Net book value at beginning of the year | 17,962 | 18,668 | |
Additions (Note 4) | 565 | 687 | |
Disposals/Retirements | (27) | ||
Reclassifications (Note 13) | (1) | 3 | |
Impairment losses recognized during the year (Note 5) | (292) | ||
Transfers and others | 8,237 | 3,945 | |
Translation differences charged directly to cumulative translation adjustments | 3 | (1) | |
Depreciation and amortization | (10,480) | (5,340) | |
Net book value at end of the year | 15,967 | 17,962 | 18,668 |
Central office equipment [Member] | Costs [Member] | |||
Disclosure Of Property Plant And Equipment [Line Items] | |||
Net book value at beginning of the year | 119,642 | 115,461 | |
Net book value at end of the year | 128,321 | 119,642 | 115,461 |
Central office equipment [Member] | Accumulated depreciation, impairment and amortization [Member] | |||
Disclosure Of Property Plant And Equipment [Line Items] | |||
Net book value at beginning of the year | (101,680) | (96,793) | |
Net book value at end of the year | (112,354) | (101,680) | (96,793) |
Cellular facilities [Member] | |||
Disclosure Of Property Plant And Equipment [Line Items] | |||
Net book value at beginning of the year | 50,181 | 64,392 | |
Additions (Note 4) | 758 | 6,512 | |
Disposals/Retirements | (60) | (123) | |
Impairment losses recognized during the year (Note 5) | (858) | (389) | |
Transfers and others | 37,881 | 8,031 | |
Deconsolidation of asubsidiary | (65) | ||
Depreciation and amortization | (17,499) | (28,242) | |
Net book value at end of the year | 70,338 | 50,181 | 64,392 |
Cellular facilities [Member] | Costs [Member] | |||
Disclosure Of Property Plant And Equipment [Line Items] | |||
Net book value at beginning of the year | 209,504 | 202,581 | |
Net book value at end of the year | 217,164 | 209,504 | 202,581 |
Cellular facilities [Member] | Accumulated depreciation, impairment and amortization [Member] | |||
Disclosure Of Property Plant And Equipment [Line Items] | |||
Net book value at beginning of the year | (159,323) | (138,189) | |
Net book value at end of the year | (146,826) | (159,323) | (138,189) |
Buildings and improvements [Member] | |||
Disclosure Of Property Plant And Equipment [Line Items] | |||
Net book value at beginning of the year | 9,054 | 8,922 | |
Additions (Note 4) | 120 | 159 | |
Disposals/Retirements | (140) | (38) | |
Reclassifications (Note 13) | 127 | 3 | |
Impairment losses recognized during the year (Note 5) | (480) | ||
Transfers and others | 265 | 1,285 | |
Translation differences charged directly to cumulative translation adjustments | 1 | (1) | |
Deconsolidation of asubsidiary | (794) | ||
Depreciation of revaluation increment on investment properties transferred to property and equipment charged to other comprehensive income | (2) | (2) | |
Depreciation and amortization | (2,162) | (1,274) | |
Net book value at end of the year | 5,989 | 9,054 | 8,922 |
Buildings and improvements [Member] | Costs [Member] | |||
Disclosure Of Property Plant And Equipment [Line Items] | |||
Net book value at beginning of the year | 27,076 | 25,914 | |
Net book value at end of the year | 26,546 | 27,076 | 25,914 |
Buildings and improvements [Member] | Accumulated depreciation, impairment and amortization [Member] | |||
Disclosure Of Property Plant And Equipment [Line Items] | |||
Net book value at beginning of the year | (18,022) | (16,992) | |
Net book value at end of the year | (20,557) | (18,022) | (16,992) |
Vehicles, aircraft, furniture and other network equipment [Member] | |||
Disclosure Of Property Plant And Equipment [Line Items] | |||
Net book value at beginning of the year | 7,881 | 7,673 | |
Additions (Note 4) | 1,158 | 2,682 | |
Disposals/Retirements | (95) | (316) | |
Reclassifications (Note 13) | (23) | (7) | |
Impairment losses recognized during the year (Note 5) | (29) | ||
Transfers and others | 1,465 | 1,959 | |
Translation differences charged directly to cumulative translation adjustments | (3) | (4) | |
Deconsolidation of asubsidiary | (273) | ||
Depreciation and amortization | (3,382) | (4,106) | |
Net book value at end of the year | 6,699 | 7,881 | 7,673 |
Vehicles, aircraft, furniture and other network equipment [Member] | Costs [Member] | |||
Disclosure Of Property Plant And Equipment [Line Items] | |||
Net book value at beginning of the year | 58,964 | 55,973 | |
Net book value at end of the year | 58,711 | 58,964 | 55,973 |
Vehicles, aircraft, furniture and other network equipment [Member] | Accumulated depreciation, impairment and amortization [Member] | |||
Disclosure Of Property Plant And Equipment [Line Items] | |||
Net book value at beginning of the year | (51,083) | (48,300) | |
Net book value at end of the year | (52,012) | (51,083) | (48,300) |
Communications satellite [Member] | Costs [Member] | |||
Disclosure Of Property Plant And Equipment [Line Items] | |||
Net book value at beginning of the year | 966 | ||
Net book value at end of the year | 966 | ||
Communications satellite [Member] | Accumulated depreciation, impairment and amortization [Member] | |||
Disclosure Of Property Plant And Equipment [Line Items] | |||
Net book value at beginning of the year | (966) | ||
Net book value at end of the year | (966) | ||
Information origination and termination equipment [Member] | |||
Disclosure Of Property Plant And Equipment [Line Items] | |||
Net book value at beginning of the year | 4,122 | 2,258 | |
Additions (Note 4) | 2,107 | 1,878 | |
Transfers and others | 1,176 | 1,343 | |
Depreciation and amortization | (2,334) | (1,357) | |
Net book value at end of the year | 5,071 | 4,122 | 2,258 |
Information origination and termination equipment [Member] | Costs [Member] | |||
Disclosure Of Property Plant And Equipment [Line Items] | |||
Net book value at beginning of the year | 17,595 | 14,596 | |
Net book value at end of the year | 20,823 | 17,595 | 14,596 |
Information origination and termination equipment [Member] | Accumulated depreciation, impairment and amortization [Member] | |||
Disclosure Of Property Plant And Equipment [Line Items] | |||
Net book value at beginning of the year | (13,473) | (12,338) | |
Net book value at end of the year | (15,752) | (13,473) | (12,338) |
Land and land improvements [Member] | |||
Disclosure Of Property Plant And Equipment [Line Items] | |||
Net book value at beginning of the year | 3,191 | 3,175 | |
Additions (Note 4) | 1 | ||
Reclassifications (Note 13) | 1,117 | 14 | |
Transfers and others | 3 | ||
Depreciation and amortization | (2) | (2) | |
Net book value at end of the year | 4,306 | 3,191 | 3,175 |
Land and land improvements [Member] | Costs [Member] | |||
Disclosure Of Property Plant And Equipment [Line Items] | |||
Net book value at beginning of the year | 3,458 | 3,440 | |
Net book value at end of the year | 4,576 | 3,458 | 3,440 |
Land and land improvements [Member] | Accumulated depreciation, impairment and amortization [Member] | |||
Disclosure Of Property Plant And Equipment [Line Items] | |||
Net book value at beginning of the year | (267) | (265) | |
Net book value at end of the year | (270) | (267) | (265) |
Property under construction [Member] | |||
Disclosure Of Property Plant And Equipment [Line Items] | |||
Net book value at beginning of the year | 47,061 | 50,070 | |
Additions (Note 4) | 52,504 | 24,970 | |
Disposals/Retirements | (9) | (134) | |
Reclassifications (Note 13) | (143) | ||
Impairment losses recognized during the year (Note 5) | (3,524) | ||
Transfers and others | (59,433) | (24,178) | |
Net book value at end of the year | 40,123 | 47,061 | 50,070 |
Property under construction [Member] | Costs [Member] | |||
Disclosure Of Property Plant And Equipment [Line Items] | |||
Net book value at beginning of the year | 50,585 | 50,070 | |
Net book value at end of the year | 40,123 | 50,585 | ₱ 50,070 |
Property under construction [Member] | Accumulated depreciation, impairment and amortization [Member] | |||
Disclosure Of Property Plant And Equipment [Line Items] | |||
Net book value at beginning of the year | ₱ (3,524) | ||
Net book value at end of the year | ₱ (3,524) |
Property and Equipment - Additi
Property and Equipment - Additional Information (Detail) - PHP (₱) ₱ in Millions | 1 Months Ended | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Interest capitalized to property and equipment | ₱ 1,524 | ₱ 816 | ₱ 566 | |
Average interest capitalization rate | 5.00% | 5.00% | 5.00% | |
Net foreign exchange differences qualified as borrowing costs | ₱ 411 | ₱ 106 | ₱ 111 | |
Cost of fully depreciated property and equipment that are still being used | ₱ 196,612 | 171,867 | 196,612 | |
Impairment losses | 1,958 | ₱ 3,913 | ||
Smart Communications, Inc. [Member] | Network Improvement Project [Member] | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Impairment losses | 3,913 | |||
Digitel Mobile Philippines, Inc. [Member] | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Impairment losses | 862 | |||
Digitel Mobile Philippines, Inc. [Member] | Network Improvement Project [Member] | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Impairment losses | ₱ 3,913 | |||
Digital Telecommunications Phils., Inc. [Member] | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Impairment losses | ₱ 1,096 |
Property and Equipment - Summ_2
Property and Equipment - Summary of Estimated Useful Lives of Property and Equipment (Detail) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Cable and wire facilities [Member] | Bottom Of Range [Member] | ||
Disclosure Of Property Plant And Equipment [Line Items] | ||
Estimated useful lives of assets | 10 years | 10 years |
Cable and wire facilities [Member] | Top of range [member] | ||
Disclosure Of Property Plant And Equipment [Line Items] | ||
Estimated useful lives of assets | 15 years | 15 years |
Central office equipment [Member] | Bottom Of Range [Member] | ||
Disclosure Of Property Plant And Equipment [Line Items] | ||
Estimated useful lives of assets | 3 years | 3 years |
Central office equipment [Member] | Top of range [member] | ||
Disclosure Of Property Plant And Equipment [Line Items] | ||
Estimated useful lives of assets | 15 years | 15 years |
Cellular facilities [Member] | Bottom Of Range [Member] | ||
Disclosure Of Property Plant And Equipment [Line Items] | ||
Estimated useful lives of assets | 3 years | 3 years |
Cellular facilities [Member] | Top of range [member] | ||
Disclosure Of Property Plant And Equipment [Line Items] | ||
Estimated useful lives of assets | 10 years | 10 years |
Building [Member] | Bottom Of Range [Member] | ||
Disclosure Of Property Plant And Equipment [Line Items] | ||
Estimated useful lives of assets | 25 years | 25 years |
Building [Member] | Top of range [member] | ||
Disclosure Of Property Plant And Equipment [Line Items] | ||
Estimated useful lives of assets | 50 years | 50 years |
Vehicles, aircraft, furniture and other network equipment [Member] | Bottom Of Range [Member] | ||
Disclosure Of Property Plant And Equipment [Line Items] | ||
Estimated useful lives of assets | 3 years | 3 years |
Vehicles, aircraft, furniture and other network equipment [Member] | Top of range [member] | ||
Disclosure Of Property Plant And Equipment [Line Items] | ||
Estimated useful lives of assets | 7 years | 7 years |
Information origination and termination equipment [Member] | Bottom Of Range [Member] | ||
Disclosure Of Property Plant And Equipment [Line Items] | ||
Estimated useful lives of assets | 3 years | 3 years |
Information origination and termination equipment [Member] | Top of range [member] | ||
Disclosure Of Property Plant And Equipment [Line Items] | ||
Estimated useful lives of assets | 5 years | 5 years |
Leasehold improvements [Member] | Bottom Of Range [Member] | ||
Disclosure Of Property Plant And Equipment [Line Items] | ||
Estimated useful lives of assets | 3 years | 3 years |
Leasehold improvements [Member] | Top of range [member] | ||
Disclosure Of Property Plant And Equipment [Line Items] | ||
Estimated useful lives of assets | 5 years | 5 years |
Land improvements [Member] | ||
Disclosure Of Property Plant And Equipment [Line Items] | ||
Estimated useful lives of assets | 10 years | 10 years |
Investments in Associates and_3
Investments in Associates and Joint Ventures - Carrying Value of Investments in Associates (Detail) - PHP (₱) ₱ in Millions | Dec. 31, 2018 | Dec. 03, 2018 | Nov. 08, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||
Carrying value of investments in associates | ₱ 20,498 | ₱ 12,041 | |||
Carrying value of investments in joint ventures | 34,929 | 34,089 | |||
Total carrying value of investments in associates and joint ventures | 55,427 | 46,130 | ₱ 56,858 | ||
VTI, Bow Arken and Brightshare [Member] | |||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||
Carrying value of investments in joint ventures | 32,541 | 32,550 | |||
Philippines Internet Holding S.a.r.l. [Member] | |||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||
Carrying value of investments in joint ventures | 1,539 | ||||
Multisys [Member] | |||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||
Carrying value of investments in joint ventures | 2,388 | ₱ 550 | ₱ 2,150 | ||
Voyager Innovations Holdings, Pte. Ltd. [Member] | |||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||
Carrying value of investments in associates | 10,487 | ||||
MediaQuest PDRs [Member] | |||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||
Carrying value of investments in associates | 9,262 | 10,835 | |||
Total carrying value of investments in associates and joint ventures | 10,022 | 8,696 | |||
Digitel Crossing, Inc. [Member] | |||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||
Carrying value of investments in associates | 591 | 510 | |||
Appcard, Inc [Member] | |||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||
Carrying value of investments in associates | 122 | 234 | |||
Asia Outsourcing Beta Limited [Member] | |||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||
Carrying value of investments in associates | ₱ 36 | 78 | |||
Phunware, Inc [Member] | |||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||
Carrying value of investments in associates | ₱ 384 |
Investments in Associates and_4
Investments in Associates and Joint Ventures - Changes in Cost of Investments (Detail) - PHP (₱) ₱ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||
Balance at beginning of the year | ₱ 46,130 | ₱ 56,858 | |
Additions during the year | 111 | 5,633 | ₱ 21,524 |
Disposals | (1,710) | (14,884) | (17,000) |
Balance at end of the year | 55,427 | 46,130 | 56,858 |
Costs [Member] | |||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||
Balance at beginning of the year | 51,487 | 57,465 | |
Additions during the year | 13,247 | 5,633 | |
Disposals | (5,230) | (11,612) | |
Translation and other adjustments | 15 | 1 | |
Balance at end of the year | ₱ 59,519 | ₱ 51,487 | ₱ 57,465 |
Investments in Associates and_5
Investments in Associates and Joint Ventures - Changes in Accumulated Impairment Losses (Detail) - PHP (₱) ₱ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||
Balance at beginning of the year | ₱ 46,130 | ₱ 56,858 | |
Additional impairment (Note 4) | 111 | 5,633 | ₱ 21,524 |
Balance at end of the year | 55,427 | 46,130 | 56,858 |
Impairment Allowance | |||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||
Balance at beginning of the year | 4,118 | 1,892 | |
Additional impairment (Note 4) | 172 | 2,223 | |
Translation and other adjustments | (1,781) | 3 | |
Balance at end of the year | ₱ 2,509 | ₱ 4,118 | ₱ 1,892 |
Investments in Associates and_6
Investments in Associates and Joint Ventures - Summary of Changes in Accumulated Equity Share in Net Earnings of Associates and Joint Ventures (Detail) - PHP (₱) ₱ in Millions | Jun. 13, 2017 | May 30, 2016 | Apr. 14, 2015 | Jun. 24, 2014 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||
Balance at beginning of the year | ₱ 46,130 | ₱ 56,858 | |||||
Equity share in net earnings (losses) of associates and joint ventures | (87) | 2,906 | ₱ 1,181 | ||||
Disposals | (1,710) | (14,884) | (17,000) | ||||
Realized portion of deferred gain on the transfer of Beacon and Manila Electric Company, or Meralco, shares | ₱ 4,962 | ₱ 4,962 | ₱ 2,838 | ₱ 1,418 | 144 | 6,512 | 7,365 |
Balance at end of the year | 55,427 | 46,130 | 56,858 | ||||
MediaQuest PDRs [Member] | |||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||
Balance at beginning of the year | 8,696 | ||||||
Balance at end of the year | 10,022 | 8,696 | |||||
Voyager Innovations Holdings, Pte. Ltd. [Member] | |||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||
Equity share in net earnings (losses) of associates and joint ventures | (262) | ||||||
Accumulated equity share in net earnings of associates and joint ventures [Member] | |||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||
Balance at beginning of the year | (1,239) | 1,285 | |||||
Equity share in net earnings (losses) of associates and joint ventures | (87) | 2,906 | |||||
Share in the other comprehensive loss of associates and joint ventures accounted for using the equity method | (1) | (312) | |||||
Disposals | (187) | (9,610) | |||||
Reversal of impairment | 201 | ||||||
Realized portion of deferred gain on the transfer of Beacon and Manila Electric Company, or Meralco, shares | 4,962 | ||||||
Dividends | (791) | ||||||
Translation and other adjustments | (69) | 120 | |||||
Balance at end of the year | (1,583) | (1,239) | ₱ 1,285 | ||||
Accumulated equity share in net earnings of associates and joint ventures [Member] | VTI, Bow Arken and Brightshare [Member] | |||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||
Equity share in net earnings (losses) of associates and joint ventures | (60) | 55 | |||||
Accumulated equity share in net earnings of associates and joint ventures [Member] | Beta [Member] | |||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||
Equity share in net earnings (losses) of associates and joint ventures | 2,050 | ||||||
Accumulated equity share in net earnings of associates and joint ventures [Member] | Beacon Electric Asset Holdings, Inc. [Member] | |||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||
Equity share in net earnings (losses) of associates and joint ventures | 886 | ||||||
Accumulated equity share in net earnings of associates and joint ventures [Member] | Philippines Internet Holding S.a.r.l. [Member] | |||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||
Equity share in net earnings (losses) of associates and joint ventures | 1 | ||||||
Accumulated equity share in net earnings of associates and joint ventures [Member] | MediaQuest PDRs [Member] | |||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||
Equity share in net earnings (losses) of associates and joint ventures | 90 | (27) | |||||
Accumulated equity share in net earnings of associates and joint ventures [Member] | Digitel Crossing, Inc. [Member] | |||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||
Equity share in net earnings (losses) of associates and joint ventures | 81 | 71 | |||||
Accumulated equity share in net earnings of associates and joint ventures [Member] | AF Payments, Inc. [Member] | |||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||
Equity share in net earnings (losses) of associates and joint ventures | 62 | ₱ (130) | |||||
Accumulated equity share in net earnings of associates and joint ventures [Member] | Voyager Innovations Holdings, Pte. Ltd. [Member] | |||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||
Equity share in net earnings (losses) of associates and joint ventures | ₱ (260) |
Investments in Associates and_7
Investments in Associates and Joint Ventures - Additional Information (Detail) ₱ / shares in Units, $ in Thousands, € in Millions | Feb. 01, 2019 | Dec. 03, 2018PHP (₱) | Nov. 08, 2018PHP (₱) | Jul. 31, 2018PHP (₱) | Mar. 02, 2018PHP (₱) | Feb. 15, 2018PHP (₱) | Dec. 18, 2017PHP (₱) | Dec. 15, 2017PHP (₱)₱ / sharesshares | Dec. 05, 2017 | Sep. 15, 2017EUR (€) | Jun. 27, 2017PHP (₱) | Jun. 13, 2017PHP (₱) | May 30, 2017 | May 19, 2017USD ($) | Apr. 25, 2017PHP (₱) | Apr. 20, 2017PHP (₱)shares | Feb. 28, 2017PHP (₱)₱ / sharesshares | Dec. 01, 2016 | Sep. 30, 2016PHP (₱)shares | Aug. 24, 2016₱ / sharesshares | Jul. 22, 2016USD ($) | May 30, 2016PHP (₱)EntityTranche₱ / shares | Jun. 29, 2015PHP (₱) | Jun. 09, 2015PHP (₱) | Jun. 01, 2015PHP (₱) | May 21, 2015PHP (₱) | Apr. 14, 2015PHP (₱) | Feb. 27, 2015PHP (₱) | Jan. 20, 2015 | Jun. 24, 2014PHP (₱) | May 11, 2014PHP (₱) | Feb. 19, 2014PHP (₱) | Sep. 27, 2013PHP (₱) | Feb. 05, 2013USD ($) | Jun. 06, 2012PHP (₱) | May 08, 2012 | Mar. 24, 2000PHP (₱) | Mar. 31, 2018PHP (₱) | Jun. 30, 2017PHP (₱) | Jun. 30, 2013PHP (₱) | Dec. 31, 2000 | Dec. 31, 2018PHP (₱) | Dec. 31, 2018USD ($) | Dec. 31, 2018EUR (€) | Dec. 31, 2017PHP (₱) | Dec. 31, 2016PHP (₱) | Dec. 31, 2016EUR (€) | Dec. 31, 2014PHP (₱)₱ / sharesshares | Dec. 31, 2012PHP (₱) | Dec. 31, 2011PHP (₱) | Dec. 14, 2014PHP (₱)shares | Dec. 14, 2014USD ($)shares | Apr. 02, 2018PHP (₱) | Mar. 23, 2018PHP (₱) | Sep. 15, 2017PHP (₱) | May 29, 2017PHP (₱) | Sep. 09, 2016PHP (₱) | Jan. 20, 2012PHP (₱) | Oct. 25, 2011PHP (₱) | May 12, 2010PHP (₱) | Mar. 30, 2010PHP (₱) | Apr. 19, 2001PHP (₱) | Apr. 19, 2001USD ($) |
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Carrying value of investments in associates | ₱ 20,498,000,000 | ₱ 12,041,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity interest acquired | 87.12% | 50.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount of equity interest acquired | 55,427,000,000 | 46,130,000,000 | ₱ 56,858,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash distribution received out of redemption of preferred shares and buyback of ordinary shares | $ | $ 57,050 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consideration paid (received) | ₱ 1,152,000,000 | ₱ 1,294,000,000 | ₱ 21,800,000,000 | ₱ 26,200,000,000 | ₱ 26,487,000,000 | ₱ 13,243,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net proceeds form sale of business | $ | $ 330,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Impairment of investments | ₱ 439,000,000 | 172,000,000 | 2,562,000,000 | 5,515,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accumulated share in net losses amount | 183,000,000 | 61,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of acquiring other interest | 50.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of other entities | Entity | 2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash consideration upon acquisition | ₱ 52,800,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of tranches | Tranche | 3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Assumed liabilities | ₱ 17,200,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount advanced to cover working capital requirements | ₱ 2,600,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding advances | 11,359,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Intangible assets | 7,204,000,000 | 8,204,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Goodwill | 61,379,000,000 | 61,379,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Goodwill | shares | 165,880,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of outstanding common stock purchases under tender offer | 12.82% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Tender offer to purchase common shares price per share. | ₱ / shares | ₱ 2.20 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Tender offer expiration date. | Oct. 20, 2016 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares tendered. | shares | 107,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of issued and outstanding common shares under shares tendered | 8.30% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Carrying value of investments in joint ventures | 34,929,000,000 | 34,089,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity interest paid | 111,000,000 | 5,633,000,000 | 21,524,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loss on investment written-off | 362,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of subscription used to fund the issuance of share capital | 56.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount receivable period | 2019 to 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total comprehensive income (loss): | 17,566,000,000 | 15,652,000,000 | 17,708,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revenues | 164,752,000,000 | 159,926,000,000 | 165,262,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Expenses | 150,979,000,000 | 150,415,000,000 | 140,559,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other income | 14,110,000,000 | 10,550,000,000 | 9,799,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
NET INCOME | 18,973,000,000 | 13,466,000,000 | 20,162,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) (Note 6) | (1,407,000,000) | 2,186,000,000 | (2,454,000,000) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vega Telecom Inc. [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity interest acquired | 50.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding advances | 11,038,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Intangible assets | ₱ 18,885,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Goodwill | ₱ 17,824,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of issued and outstanding capital stock | 99.10% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Carrying value of investments in joint ventures | 32,541,000,000 | 32,550,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity interest paid | € | € 7.4 | € 2.6 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total comprehensive income (loss): | (120,000,000) | 110,000,000 | (2,055,000,000) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revenues | 2,505,000,000 | 2,532,000,000 | 1,189,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
NET INCOME | (120,000,000) | 110,000,000 | (2,055,000,000) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Bow Arken Holdings Company [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity interest acquired | 50.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding advances | 238,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Brightshare Holdings, Inc. [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity interest acquired | 50.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding advances | 83,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Multisys [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity interest acquired | 45.73% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Carrying value of investments in joint ventures | ₱ 550,000,000 | ₱ 2,150,000,000 | 2,388,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Payment for acquisition of existing shares | 523,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment as deposit for future stock subscription | ₱ 800,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business acquisition of shares outstanding | 27,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subscription payable | 800,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Contingent consideration | ₱ 230,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Philippines Internet Holding S.a.r.l. [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity interest acquired | 50.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Carrying value of investments in joint ventures | 1,539,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of equity interest | 33.33% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beacon Electric Asset Holdings, Inc. [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares redeemed | shares | 79,000,000 | 198,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity interest paid | ₱ 5,000,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase in authorized capital | 6,000,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Redemption of shares, Value | ₱ 43,000,000 | ₱ 21,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share issued | 17,000,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consideration received in future | ₱ 9,200,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
PCEVs Beacon Electric Asset Holdings Inc [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity interest acquired | 75.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consideration paid (received) | ₱ 4,852,000,000 | 21,800,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consideration settled | ₱ 12,000,000,000 | 12,000,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consideration to be settled | ₱ 9,800,000,000 | ₱ 9,800,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consideration settlement period in installments | annual installments from June 2018 to June 2021 | annual installments from June 2018 to June 2021 | annual installments from June 2018 to June 2021 | annual installments from June 2018 to June 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of receivable proposed for sale | 50.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Period of proceeds from sale of shares | 2019 to 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amounts receivable | ₱ 5,550,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
PLDT Communications and Energy Ventures, Inc. [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Remaining percentage of interest in joint venture | 25.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Metro Pacific Investments Corporation And Ayala Group | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Receivables from divestment of assets | ₱ 2,124,000,000 | ₱ 2,230,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Metro Pacific Investments Corporation [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Receivables from divestment of assets | ₱ 4,353,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for expected credit losses | 2,000,000 | 15,552,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aggregated individually immaterial joint ventures [member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding contingent liabilities | 0 | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total comprehensive income (loss): | 322,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revenues | 35,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Expenses | 21,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other income | 1,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
NET INCOME | 15,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) (Note 6) | 15,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Tranche One [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of consideration paid upon acquisition | 50.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Tranche Two [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of consideration paid upon acquisition | 25.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Tranche Three [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of consideration paid upon acquisition | 25.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred Shares [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consideration paid (received) | ₱ 3,563,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock [Member] | Beacon Electric Asset Holdings, Inc. [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase in authorized capital | ₱ 3,000,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par value | ₱ / shares | ₱ 1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2,760,000 Subscribed Preferred Shares [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares subscribed or to be issued | shares | 2,800,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subscribed per share | ₱ / shares | ₱ 4,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Premium over par value per subscribed share | ₱ / shares | ₱ 3,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subscription share price | ₱ 11,040,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Premium over subscription share price | 8,280,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subscribed payment | ₱ 11,040,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
800,000 Subscribed Preferred Shares [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares subscribed or to be issued | shares | 600,000 | 800,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subscribed per share | ₱ / shares | ₱ 5,000 | ₱ 4,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Premium over par value per subscribed share | ₱ / shares | ₱ 4,000 | ₱ 3,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subscription share price | ₱ 3,000,000,000 | ₱ 3,200,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Premium over subscription share price | ₱ 2,400,000,000 | 2,400,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subscribed payment | ₱ 148,000,000 | 2,990,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Advances outstanding to cover assumed liabilities and working capital requirements of acquired companies | ₱ 51,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A Preferred Shares [Member] | Beacon Electric Asset Holdings, Inc. [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase in authorized capital | ₱ 2,000,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par value | ₱ / shares | ₱ 1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class B Preferred Shares | Beacon Electric Asset Holdings, Inc. [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase in authorized capital | ₱ 1,000,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Par value | ₱ / shares | ₱ 1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A And B Preferred Shares [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends declared | 3,355,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Digitel [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reversal of impairment | 201,000,000 | ₱ 92,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Description Of Significant Influence In Joint Venture | Though Digitel owns more than half of the voting interest in ANPC, management has assessed that Digitel only has significant influence, and not control, due to certain governance matters. | Though Digitel owns more than half of the voting interest in ANPC, management has assessed that Digitel only has significant influence, and not control, due to certain governance matters. | Though Digitel owns more than half of the voting interest in ANPC, management has assessed that Digitel only has significant influence, and not control, due to certain governance matters. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Metro Pacific Investments Corporation And Ayala Group | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Description of concession agreement | MPIC and Ayala Group signed a ten-year concession agreement with the DOTC to build and implement the AFCS project | MPIC and Ayala Group signed a ten-year concession agreement with the DOTC to build and implement the AFCS project | MPIC and Ayala Group signed a ten-year concession agreement with the DOTC to build and implement the AFCS project | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Metro Pacific Investments Corporation And Ayala Group | Beacon Electric Asset Holdings, Inc. [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Settled portion of consideration | ₱ 8,487,000,000 | ₱ 17,000,000,000 | ₱ 10,243,000,000 | ₱ 3,000,000,000 | ₱ 1,000,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Events After Reporting Period | Multisys [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity interest acquired | 45.73% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beneficial Trust Fund Holdings Inc. [Member] | Major business combination [member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of investment in associates | 70.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Carrying value of investments in associates | ₱ 1,664,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Associates [member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends received | ₱ 0 | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding contingent liabilities | ₱ 0 | ₱ 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Meralco [Member] | Beacon Electric Asset Holdings, Inc. [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Deferred gain recognized | ₱ 8,145,000,000 | ₱ 8,047,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Meralco [Member] | Common Stock [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount of equity interest acquired | ₱ 23,130,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Bottom Of Range [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of investment in associates | 5.00% | 5.00% | 5.00% | 5.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity interest acquired | 5.00% | 5.00% | 5.00% | 5.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Bottom Of Range [Member] | Vega Telecom Inc. [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of issued and outstanding common shares owned by VTI | 95.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
MediaQuest PDRs [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Recoverable amount | ₱ 1,664,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Provision for impairment | 1,784,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
iCommerce Investments Pte. Ltd. [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Arbitral proceedings, amount | € | € 2.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of voting equity interests acquired | 33.33% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Value of shares acquired | ₱ 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
PLDT Communications and Energy Ventures, Inc. [Member] | Common Stock [Member] | Beacon Electric Asset Holdings, Inc. [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount of equity interest acquired | ₱ 2,700,000,000 | 15,136,000,000 | ₱ 23,130,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
PLDT Communications and Energy Ventures, Inc. [Member] | Class A Preferred Shares [Member] | Beacon Electric Asset Holdings, Inc. [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount of equity interest acquired | ₱ 15,136,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
PLDT Communications and Energy Ventures, Inc. [Member] | Class B Preferred Shares | Beacon Electric Asset Holdings, Inc. [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount of equity interest acquired | ₱ 1,000,000,000 | ₱ 3,500,000,000 | ₱ 2,500,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
PLDT Communications and Energy Ventures, Inc. [Member] | Class A And B Preferred Shares [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends received | 833,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Voyager Innovations Holdings, Pte. Ltd. [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gain on remeasurement of retained interest | ₱ 12,054,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Carrying value of investments in associates | 10,487,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total comprehensive income (loss): | (537,000,000) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revenues | 136,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
NET INCOME | (535,000,000) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) (Note 6) | (2,000,000) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
MediaQuest PDRs [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total deposits | ₱ 2,250,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Carrying value of investments in associates | 9,262,000,000 | 10,835,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Additional Investments | 2,700,000,000 | 2,500,000,000 | 5,500,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Additional Investments for subscription | ₱ 300,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for impairment | 1,784,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount of equity interest acquired | 10,022,000,000 | 8,696,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of economic interest transferred to employees | 40.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
MediaQuest PDRs [Member] | Cignal TV [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total deposits | ₱ 6,000,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of investment in associates | 64.00% | 40.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Carrying value of investments in associates | ₱ 6,000,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
MediaQuest PDRs [Member] | Satventures, Inc. [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of investment in associates | 40.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Carrying value of investments in associates | ₱ 3,600,000,000 | ₱ 3,600,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
MediaQuest PDRs [Member] | Hasting [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of investment in associates | 70.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Carrying value of investments in associates | ₱ 3,250,000,000 | ₱ 1,950,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Additional Investments | ₱ 800,000,000 | ₱ 500,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Settlement amount | ₱ 200,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
MediaQuest PDRs [Member] | Hasting philippine depository receipts [Member] | Top of range [member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Additional Investments | ₱ 500,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cignal TV [Member] | Pay TV business [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Provision for impairment | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Digitel Crossing, Inc. [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Carrying value of investments in associates | ₱ 591,000,000 | 510,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Digitel Crossing, Inc. [Member] | Digitel [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of investment in associates | 60.00% | 60.00% | 60.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity interest acquired | 40.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Digitel Crossing, Inc. [Member] | Pacnet Network Philipines Inc [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity interest acquired | 40.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Digitel Crossing, Inc. [Member] | Broadband Infrastructure Group Ltd [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity interest acquired | 20.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Digitel Crossing, Inc. [Member] | Asia Netcom Philippines Corp. [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of investment in associates | 20.00% | 20.00% | 20.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Asia Netcom Philippines Corp. [Member] | Digitel [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of investment in associates | 40.00% | 40.00% | 40.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of ownership interest in subsidiary acquired | 60.00% | 60.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount of equity interest acquired | ₱ 69,000,000 | $ 2,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Asia Netcom Philippines Corp. [Member] | Pacnet Network Philipines Inc [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of ownership interest in subsidiary acquired | 40.00% | 40.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Asia Outsourcing Beta Limited [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Carrying value of investments in associates | ₱ 36,000,000 | 78,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Asia Outsourcing Beta Limited [Member] | Asia Outsourcing Gamma Limited Customer Relationship Management [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consideration paid (received) | $ | $ 180,900 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Description of completion of sale transaction | The transaction was completed on September 30, 2016 | The transaction was completed on September 30, 2016 | The transaction was completed on September 30, 2016 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Asia Outsourcing Beta Limited [Member] | Common Stock [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Carrying value of investments in associates | ₱ 36,000,000 | ₱ 78,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Asia Outsourcing Beta Limited [Member] | PLDT Global Investments Corporation [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash distribution received out of redemption of preferred shares and buyback of ordinary shares | $ | $ 11,200 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Asia Outsourcing Beta Limited [Member] | PLDT Global Investments Corporation [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of investment in associates | 20.00% | 20.00% | 20.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount of equity interest acquired | $ | $ 40,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares transferred to employees, net payment | $ | $ 81 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash distribution received out of redemption of preferred shares and buyback of ordinary shares | ₱ 41,800,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of economic interest transferred to employees | 18.32% | 18.32% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of interest in associates by subsidiary | 18.32% | 18.32% | 18.32% | 18.32% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Asia Outsourcing Beta Limited [Member] | PLDT Global Investments Corporation [Member] | Preferred Shares [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount of equity interest acquired | $ | 39,800 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares transferred | shares | 9,643 | 9,643 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares redeemed | shares | 35,300,000 | 35,300,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Asia Outsourcing Beta Limited [Member] | PLDT Global Investments Corporation [Member] | Common Stock [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount of equity interest acquired | $ | $ 200 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares transferred | shares | 27 | 27 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
AF Payments, Inc. [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unrecognized share in net earnings (losses) of associates and joint ventures | ₱ 122,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
AF Payments, Inc. [Member] | Smart [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of investment in associates | 20.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount of shares subscribed | ₱ 503,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subscription price per share | ₱ / shares | ₱ 1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
AF Payments, Inc. [Member] | Smart [Member] | Series B Preferred Stock | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
subscribed shares equivalent to amount subscribed | shares | 503,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Smart Communications, Inc. [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Impairment of investments | ₱ 60,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
AIL [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total comprehensive income (loss): | (80,000,000) | ₱ 58,000,000 | 526,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revenues | 104,000,000 | 107,000,000 | 1,960,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
NET INCOME | ₱ (80,000,000) | 59,000,000 | ₱ 526,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) (Note 6) | ₱ (1,000,000) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
AIL [Member] | A Ce S Philippines | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of investment in associates | 36.99% | 36.99% | 36.99% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Recognized full impairment provision in respect of investment | ₱ 1,896,000,000 |
Investments in Associates and_8
Investments in Associates and Joint Ventures - Summarized Statements of Financial Position (Detail) - PHP (₱) ₱ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Statement of Financial Position: | ||||
Noncurrent assets | ₱ 383,176 | ₱ 369,775 | ||
Current assets | 99,574 | 89,669 | ||
Noncurrent liabilities | 173,476 | 180,170 | ||
Current liabilities | 192,608 | 168,091 | ||
Equity | 116,666 | 111,183 | ₱ 108,537 | ₱ 113,898 |
Carrying value of investments in associates | 20,498 | 12,041 | ||
Carrying value of investments in joint ventures | 34,929 | 34,089 | ||
Additional Information: | ||||
Cash and cash equivalents | 51,654 | 32,905 | ₱ 38,722 | ₱ 46,455 |
Noncurrent financial liabilities | 143,392 | 157,711 | ||
Vega Telecom Inc. [Member] | ||||
Statement of Financial Position: | ||||
Noncurrent assets | 77,261 | 77,694 | ||
Current assets | 3,070 | 2,807 | ||
Noncurrent liabilities | 11,193 | 11,373 | ||
Current liabilities | 2,678 | 1,936 | ||
Equity | 66,460 | 67,192 | ||
Carrying value of investments in joint ventures | 32,541 | 32,550 | ||
Additional Information: | ||||
Cash and cash equivalents | 2,191 | 1,961 | ||
Current financial liabilities | 607 | |||
Voyager Innovations Holdings, Pte. Ltd. [Member] | ||||
Statement of Financial Position: | ||||
Noncurrent assets | 1,318 | |||
Current assets | 11,152 | |||
Noncurrent liabilities | 42 | |||
Current liabilities | 2,926 | |||
Equity | 9,502 | |||
Carrying value of investments in associates | 10,487 | |||
Satventures, Inc. [Member] | ||||
Statement of Financial Position: | ||||
Noncurrent assets | 20,712 | 20,055 | ||
Current assets | 2,606 | 2,820 | ||
Noncurrent liabilities | 3,297 | 3,292 | ||
Current liabilities | 5,549 | 5,253 | ||
Equity | 14,472 | 14,330 | ||
Carrying value of investments in associates | 9,262 | 9,171 | ||
Additional Information: | ||||
Cash and cash equivalents | 611 | 1,211 | ||
Current financial liabilities | 487 | 397 | ||
Noncurrent financial liabilities | ₱ 2,239 | 2,097 | ||
Hastings Philippine Depositary Receipts [Member] | ||||
Statement of Financial Position: | ||||
Noncurrent assets | 1,803 | |||
Current assets | 2,360 | |||
Noncurrent liabilities | 151 | |||
Current liabilities | 336 | |||
Equity | 3,676 | |||
Carrying value of investments in associates | 1,664 | |||
Additional Information: | ||||
Cash and cash equivalents | ₱ 1,304 |
Investments in Associates and_9
Investments in Associates and Joint Ventures - Summarized Income Statements (Detail) - PHP (₱) ₱ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Income Statement: | |||
Revenues | ₱ 164,752 | ₱ 159,926 | ₱ 165,262 |
Depreciation and amortization | 47,240 | 51,915 | 34,455 |
Interest income | 1,943 | 1,412 | 1,046 |
Interest on loans and other related items (Notes 20 and 27) | 8,307 | 7,830 | 7,522 |
Benefit from income tax | 3,842 | 1,103 | 1,909 |
NET INCOME | 18,973 | 13,466 | 20,162 |
Other comprehensive income (loss) | (1,407) | 2,186 | (2,454) |
TOTAL COMPREHENSIVE INCOME | 17,566 | 15,652 | 17,708 |
Equity share in net earnings (losses) of associates and joint ventures | (87) | 2,906 | 1,181 |
Vega Telecom Inc. [Member] | |||
Income Statement: | |||
Revenues | 2,505 | 2,532 | 1,189 |
Depreciation and amortization | 1,171 | 1,168 | 842 |
Interest income | 43 | 28 | 18 |
Benefit from income tax | 113 | (42) | 158 |
NET INCOME | (120) | 110 | (2,055) |
TOTAL COMPREHENSIVE INCOME | (120) | 110 | (2,055) |
Equity share in net earnings (losses) of associates and joint ventures | (60) | 55 | (1,027) |
Voyager Innovations Holdings, Pte. Ltd. [Member] | |||
Income Statement: | |||
Revenues | 136 | ||
Depreciation and amortization | 19 | ||
Interest income | 14 | ||
Benefit from income tax | (1) | ||
NET INCOME | (535) | ||
Other comprehensive income (loss) | (2) | ||
TOTAL COMPREHENSIVE INCOME | (537) | ||
Equity share in net earnings (losses) of associates and joint ventures | (262) | ||
Satventures, Inc. [Member] | |||
Income Statement: | |||
Revenues | 7,339 | 6,650 | 5,925 |
Depreciation and amortization | 936 | 772 | 1,217 |
Interest income | 8 | 3 | 2 |
Interest on loans and other related items (Notes 20 and 27) | 274 | 249 | 259 |
Benefit from income tax | 112 | 71 | (69) |
NET INCOME | 142 | 4 | (344) |
TOTAL COMPREHENSIVE INCOME | 142 | 4 | (344) |
Equity share in net earnings (losses) of associates and joint ventures | 90 | 3 | (220) |
Hastings Philippine Depositary Receipts [Member] | |||
Income Statement: | |||
Revenues | 2,129 | 2,394 | |
Depreciation and amortization | 153 | 153 | |
Interest income | 12 | 18 | |
Interest on loans and other related items (Notes 20 and 27) | 19 | 19 | |
Benefit from income tax | 22 | 70 | |
NET INCOME | (43) | 169 | |
TOTAL COMPREHENSIVE INCOME | (43) | 169 | |
Equity share in net earnings (losses) of associates and joint ventures | (30) | 118 | |
AIL [Member] | |||
Income Statement: | |||
Revenues | 104 | 107 | 1,960 |
NET INCOME | (80) | 59 | 526 |
Other comprehensive income (loss) | (1) | ||
TOTAL COMPREHENSIVE INCOME | ₱ (80) | ₱ 58 | ₱ 526 |
Investments in Associates an_10
Investments in Associates and Joint Ventures - Summary of Investments in AFPI (Detail) - PHP (₱) ₱ in Millions, shares in Millions | 12 Months Ended | ||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||
Investments in associates and joint ventures | ₱ 55,427 | ₱ 46,130 | ₱ 56,858 | ||
AF Payments, Inc. [Member] | Smart Communications, Inc. [Member] | |||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||
Transaction | Capital infusion on unpaid subscription | ||||
Investments in associates and joint ventures | ₱ 130 | ||||
AF Payments, Inc. [Member] | Smart Communications, Inc. [Member] | Common Stock [Member] | |||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||
Transaction | Smart subscription to AFPI Common Shares | Smart subscription to AFPI Common Shares | |||
Number of Shares Subscribed | 122.5 | 503.2 | |||
Investments in associates and joint ventures | ₱ 160 | ₱ 300 | |||
AF Payments, Inc. [Member] | Smart Communications, Inc. [Member] | Preferred stock [Member] | |||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||
Transaction | Smart subscription to AFPI Preferred Shares | Smart subscription to AFPI Preferred Shares | |||
Number of Shares Subscribed | 60 | 100 | |||
Investments in associates and joint ventures | ₱ 60 | ₱ 100 |
Investments in Associates an_11
Investments in Associates and Joint Ventures - Summary of Investments in Beacon's shares (Detail) - PHP (₱) ₱ in Millions, shares in Millions | Apr. 20, 2017 | Sep. 09, 2016 | May 30, 2016 | Jan. 20, 2012 | Oct. 25, 2011 | Mar. 30, 2010 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||
Investments in associates and joint ventures | ₱ 55,427 | ₱ 46,130 | ₱ 56,858 | ||||||
Beacon Electric Asset Holdings, Inc. [Member] | PLDT Communications and Energy Ventures, Inc. [Member] | Common Stock [Member] | |||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||
Transaction | PCEV subscription to Beacon Common Shares | PCEV transfer of remaining Meralco Common Shares to Beacon(2) | PCEV subscription to Beacon Common Shares(1) | ||||||
Number of Shares Subscribed | 135 | 69 | 1,157 | ||||||
Investments in associates and joint ventures | ₱ 2,700 | ₱ 15,136 | ₱ 23,130 | ||||||
Beacon Electric Asset Holdings, Inc. [Member] | PLDT Communications and Energy Ventures, Inc. [Member] | Class A Preferred Shares [Member] | |||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||
Transaction | PCEV subscription to Beacon Preferred Shares | ||||||||
Number of Shares Subscribed | 1,199 | ||||||||
Investments in associates and joint ventures | ₱ 15,136 | ||||||||
Beacon Electric Asset Holdings, Inc. [Member] | PLDT Communications and Energy Ventures, Inc. [Member] | Class B Preferred Shares | |||||||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | |||||||||
Transaction | Beacon redemption of Class “B” Preferred Shares held by PCEV | Beacon redemption of Class “B” Preferred Shares held by PCEV | PCEV subscription to Beacon Class “B” Preferred Shares | ||||||
Number of Shares Subscribed | 79 | 198 | 277 | ||||||
Investments in associates and joint ventures | ₱ 1,000 | ₱ 2,500 | ₱ 3,500 |
Investments in Associates an_12
Investments in Associates and Joint Ventures - Summary of Investments in Beacon's shares (Parenthetical) (Detail) - PHP (₱) ₱ / shares in Units, ₱ in Millions, shares in Millions | May 12, 2010 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of Investments in Associates and Joint Ventures [Line Items] | ||||
Investments in associates and joint ventures | ₱ 55,427 | ₱ 46,130 | ₱ 56,858 | |
Meralco [Member] | Common Stock [Member] | ||||
Disclosure of Investments in Associates and Joint Ventures [Line Items] | ||||
Number of Shares Subscribed | 154 | |||
Shares transferred per share | ₱ 150 | |||
Investments in associates and joint ventures | ₱ 23,130 |
Investments in Associates an_13
Investments in Associates and Joint Ventures - Summary of Sale of Beacon's Meralco Shares to MPIC (Detail) - PHP (₱) ₱ / shares in Units, ₱ in Millions | Jul. 31, 2018 | Dec. 18, 2017 | Jun. 13, 2017 | May 30, 2016 | Apr. 14, 2015 | Jun. 24, 2014 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure Of Joint Ventures [Abstract] | |||||||||
Number of Shares Sold | 112,710,000 | 56,350,000 | |||||||
% of Meralco Shareholdings Sold | 10.00% | 5.00% | |||||||
Price Per Share | ₱ 235 | ₱ 235 | |||||||
Total consideration | ₱ 1,152 | ₱ 1,294 | ₱ 21,800 | ₱ 26,200 | ₱ 26,487 | ₱ 13,243 | |||
Realized portion of deferred gain on the transfer of Beacon and Manila Electric Company, or Meralco, shares | ₱ 4,962 | ₱ 4,962 | ₱ 2,838 | ₱ 1,418 | ₱ 144 | ₱ 6,512 | ₱ 7,365 |
Investments in Associates an_14
Investments in Associates and Joint Ventures - Summary of Sale of PCEV Shares to MPIC (Detail) - PHP (₱) ₱ in Millions | Jul. 31, 2018 | Dec. 18, 2017 | Jun. 13, 2017 | May 30, 2016 | Apr. 14, 2015 | Jun. 24, 2014 | Jun. 06, 2012 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure Of Joint Ventures [Line Items] | ||||||||||
Number of Shares Sold | 112,710,000 | 56,350,000 | ||||||||
Selling Price | ₱ 1,152 | ₱ 1,294 | ₱ 21,800 | ₱ 26,200 | ₱ 26,487 | ₱ 13,243 | ||||
Realized portion of deferred gain on the transfer of Beacon and Manila Electric Company, or Meralco, shares | ₱ 4,962 | ₱ 4,962 | ₱ 2,838 | ₱ 1,418 | ₱ 144 | ₱ 6,512 | ₱ 7,365 | |||
Preferred Shares [Member] | ||||||||||
Disclosure Of Joint Ventures [Line Items] | ||||||||||
Number of Shares Sold | 458,000,000 | 458,000,000 | 282,000,000 | |||||||
Selling Price | ₱ 3,563 | |||||||||
Realized portion of deferred gain on the transfer of Beacon and Manila Electric Company, or Meralco, shares | ₱ 2,012 | |||||||||
Common Stock [Member] | ||||||||||
Disclosure Of Joint Ventures [Line Items] | ||||||||||
Number of Shares Sold | 646,000,000 | 646,000,000 |
Investments in Associates an_15
Investments in Associates and Joint Ventures - Summary of Expected Credit Losses of Financial Assets (Detail) ₱ in Millions | 12 Months Ended |
Dec. 31, 2018PHP (₱) | |
Disclosure Of Joint Ventures [Line Items] | |
Balance as at beginning of the year | ₱ 14,723 |
Balance at end of the year | 16,739 |
Metro Pacific Investments Corporation [Member] | |
Disclosure Of Joint Ventures [Line Items] | |
Balance as at beginning of the year | 4 |
Financial assets derecognized during the year | (2) |
Balance at end of the year | 2 |
Metro Pacific Investments Corporation [Member] | Stage 1 [Member] | 12-Month ECL [Member] | |
Disclosure Of Joint Ventures [Line Items] | |
Balance as at beginning of the year | 4 |
Financial assets derecognized during the year | (2) |
Balance at end of the year | ₱ 2 |
Financial Assets at FVPL_Avai_3
Financial Assets at FVPL/Available-for-Sale Financial Investments - Summary of Details Financial Assets at FVPL or Available-for-Sale Financial Investments (Detail) - PHP (₱) ₱ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure Of Financial Assets [Line Items] | |||
Financial assetsat FVPL | ₱ 4,763 | ||
Available-for-sale financial investments | ₱ 15,165 | ||
Rocket Internet S E [Member] | |||
Disclosure Of Financial Assets [Line Items] | |||
Financial assetsat FVPL | 3,128 | ||
Available-for-sale financial investments | 3,128 | 12,848 | ₱ 10,058 |
IFlix Limited [Member] | |||
Disclosure Of Financial Assets [Line Items] | |||
Financial assetsat FVPL | 844 | ||
Available-for-sale financial investments | 1,841 | ||
Phunware, Inc [Member] | |||
Disclosure Of Financial Assets [Line Items] | |||
Financial assetsat FVPL | 497 | ||
Club Shares and others [Member] | |||
Disclosure Of Financial Assets [Line Items] | |||
Financial assetsat FVPL | ₱ 294 | ||
Available-for-sale financial investments | 239 | ||
Matrixx Software, Inc. [Member] | |||
Disclosure Of Financial Assets [Line Items] | |||
Available-for-sale financial investments | ₱ 237 |
Financial Assets at FVPL_Avai_4
Financial Assets at FVPL/Available-for-Sale Financial Investments - Additional Information (Detail) € / shares in Units, ₱ in Millions, € in Millions, $ in Millions | Dec. 20, 2018USD ($) | Dec. 15, 2018USD ($) | Dec. 14, 2018 | May 23, 2018EUR (€)shares | May 04, 2018PHP (₱)shares | May 04, 2018EUR (€)shares | Apr. 16, 2018€ / sharesshares | Feb. 27, 2018PHP (₱) | Aug. 04, 2017PHP (₱) | Aug. 04, 2017USD ($) | Mar. 10, 2016PHP (₱) | Mar. 10, 2016USD ($) | Sep. 03, 2015USD ($) | Aug. 11, 2015PHP (₱) | Aug. 11, 2015USD ($) | Apr. 23, 2015PHP (₱) | Apr. 23, 2015USD ($) | Oct. 02, 2014 | Feb. 28, 2015 | Aug. 31, 2014PHP (₱) | Nov. 30, 2010PHP (₱)shares | Sep. 30, 2018PHP (₱)shares | Sep. 30, 2018EUR (€)shares | Dec. 31, 2018PHP (₱) | Dec. 31, 2017PHP (₱) | Dec. 31, 2016PHP (₱) | Mar. 20, 2019€ / shares | Dec. 15, 2018PHP (₱) | Dec. 18, 2015USD ($) | Sep. 04, 2015USD ($) | Oct. 01, 2014€ / shares | Aug. 31, 2014EUR (€) |
Disclosure Of Financial Assets [Line Items] | ||||||||||||||||||||||||||||||||
Date of investment | Aug. 7, 2014 | |||||||||||||||||||||||||||||||
Percentage of ownership | 10.00% | |||||||||||||||||||||||||||||||
Number of shares buyback pursuant to share buyback Program | shares | 2,720,000 | |||||||||||||||||||||||||||||||
Total consideration pursuant to share buyback program | ₱ 6,505 | |||||||||||||||||||||||||||||||
Impairment recognized in profit or loss (Note 11) | ₱ 540 | ₱ 5,381 | ||||||||||||||||||||||||||||||
Purchase of available-for-sale financial investments | 76 | 3,500 | ||||||||||||||||||||||||||||||
Fair value of investment amount | ₱ 4,763 | |||||||||||||||||||||||||||||||
Rocket Internet S E [Member] | ||||||||||||||||||||||||||||||||
Disclosure Of Financial Assets [Line Items] | ||||||||||||||||||||||||||||||||
Non-current financial assets available-for-sale | ₱ 19,577 | € 333 | ||||||||||||||||||||||||||||||
Percentage of ownership | 67.40% | 6.60% | 6.10% | |||||||||||||||||||||||||||||
Initial public offering | € / shares | € 42.50 | |||||||||||||||||||||||||||||||
Offering price per share | € / shares | € 24 | |||||||||||||||||||||||||||||||
Minimum number of shares committed to accept offer | shares | 7,000,000 | |||||||||||||||||||||||||||||||
Number of shares accepted against tender | shares | 7,000,000 | 7,000,000 | ||||||||||||||||||||||||||||||
Total consideration pursuant to share buyback program | ₱ 10,059 | € 163 | ||||||||||||||||||||||||||||||
Shares redeemed | shares | 10,800,000 | |||||||||||||||||||||||||||||||
Reducing share capital | € | € 154 | |||||||||||||||||||||||||||||||
Number of Common Shares Sold | shares | 700,000 | 700,000 | ||||||||||||||||||||||||||||||
Aggregate amount against shares sold | ₱ 1,346 | € 22 | ||||||||||||||||||||||||||||||
Decline in value below cost | 20.00% | |||||||||||||||||||||||||||||||
Impairment of investment | (11,045) | |||||||||||||||||||||||||||||||
Impairment recognized in profit or loss (Note 11) | 540 | ₱ 5,381 | ||||||||||||||||||||||||||||||
Total cumulative valuation loss on investment | ₱ (157) | |||||||||||||||||||||||||||||||
Fair value of investment amount | 3,128 | |||||||||||||||||||||||||||||||
Rocket Internet S E [Member] | Change in fair value of investment [Member] | ||||||||||||||||||||||||||||||||
Disclosure Of Financial Assets [Line Items] | ||||||||||||||||||||||||||||||||
Closing price per share at end of the year (in Euros) | € / shares | € 22.90 | |||||||||||||||||||||||||||||||
Rocket Internet S E [Member] | Top of range [member] | ||||||||||||||||||||||||||||||||
Disclosure Of Financial Assets [Line Items] | ||||||||||||||||||||||||||||||||
Number of shares buyback pursuant to share buyback Program | shares | 15,000,000 | |||||||||||||||||||||||||||||||
Percentage of Ownership | 2.10% | 6.10% | 6.10% | 2.10% | 2.10% | |||||||||||||||||||||||||||
Rocket Internet S E [Member] | Bottom Of Range [Member] | ||||||||||||||||||||||||||||||||
Disclosure Of Financial Assets [Line Items] | ||||||||||||||||||||||||||||||||
Percentage of Ownership | 2.00% | 2.00% | 2.00% | 1.70% | 1.70% | |||||||||||||||||||||||||||
IFlix Limited [Member] | ||||||||||||||||||||||||||||||||
Disclosure Of Financial Assets [Line Items] | ||||||||||||||||||||||||||||||||
Percentage of ownership | 5.30% | 7.30% | ||||||||||||||||||||||||||||||
Purchase of available-for-sale financial investments | ₱ 75 | $ 1.5 | ₱ 686 | $ 15 | ||||||||||||||||||||||||||||
Convertible note held | $ | $ 1.5 | $ 15 | ||||||||||||||||||||||||||||||
Conversion of notes to ordinary shares | ₱ 20.7 | |||||||||||||||||||||||||||||||
Valuation gain | 898 | 19 | ||||||||||||||||||||||||||||||
Increasing fair value of investment | ₱ 1,584 | $ 34 | ||||||||||||||||||||||||||||||
Fair value of online investment amount | 844 | ₱ 1,841 | ||||||||||||||||||||||||||||||
Fair value of investment amount | 844 | |||||||||||||||||||||||||||||||
IFlix Limited [Member] | Series B Preferred Shares [Member] | ||||||||||||||||||||||||||||||||
Disclosure Of Financial Assets [Line Items] | ||||||||||||||||||||||||||||||||
Conversion of notes to preferred shares | ₱ 1 | |||||||||||||||||||||||||||||||
Phunware, Inc [Member] | ||||||||||||||||||||||||||||||||
Disclosure Of Financial Assets [Line Items] | ||||||||||||||||||||||||||||||||
Percentage of subscribed promissory note in associate | 8.00% | |||||||||||||||||||||||||||||||
Amount of subscribed promissory note issued by associate | $ | $ 5 | |||||||||||||||||||||||||||||||
Convertible promissory note payable | $ | $ 5 | |||||||||||||||||||||||||||||||
Business combination enterprise value | ₱ 301 | |||||||||||||||||||||||||||||||
Preferred shares conversion ratio | 100.00% | |||||||||||||||||||||||||||||||
Fair value of investment amount | ₱ 497 | |||||||||||||||||||||||||||||||
Phunware, Inc [Member] | Series F Preferred Shares [Member] | ||||||||||||||||||||||||||||||||
Disclosure Of Financial Assets [Line Items] | ||||||||||||||||||||||||||||||||
Amount of total consideration of preferred shares subscribed | $ | $ 3 | |||||||||||||||||||||||||||||||
Matrixx Software, Inc. [Member] | ||||||||||||||||||||||||||||||||
Disclosure Of Financial Assets [Line Items] | ||||||||||||||||||||||||||||||||
Purchase of available-for-sale financial investments | ₱ 237 | $ 5 | ||||||||||||||||||||||||||||||
Disposal of financial assets at fair value through profit or loss | $ | $ 5 |
Financial Assets at FVPL_Avai_5
Financial Assets at FVPL/Available-for-Sale Financial Investments - Summary of Details on Investment in Rocket (Detail) € / shares in Units, ₱ in Millions, € in Millions | 12 Months Ended | |||||
Dec. 31, 2018PHP (₱) | Dec. 31, 2018EUR (€)€ / shares | Dec. 31, 2017PHP (₱) | Dec. 31, 2017EUR (€)€ / shares | Dec. 31, 2016PHP (₱) | Dec. 31, 2016EUR (€)€ / shares | |
Disclosure Of Financial Assets [Line Items] | ||||||
Total market value as at beginning of the year (in million pesos) | ₱ 15,165 | |||||
Total market value as at end of the year (in million Euros) | ₱ 15,165 | |||||
Recognized in profit or loss (in million pesos) | (540) | ₱ (5,381) | ||||
Rocket Internet S E [Member] | ||||||
Disclosure Of Financial Assets [Line Items] | ||||||
Total market value as at beginning of the year (in million pesos) | 12,848 | 10,058 | ||||
Impairment loss | (540) | |||||
Fair value adjustment in other comprehensive income | 3,330 | |||||
Total market value as at end of the year (in million Euros) | 3,128 | 12,848 | 10,058 | |||
Recognized in profit or loss (in million pesos) | (540) | (5,381) | ||||
Fair value adjustment in profit or loss | (157) | |||||
Disposal of investments | (9,563) | |||||
Rocket [Member] | Rocket Internet S E [Member] | ||||||
Disclosure Of Financial Assets [Line Items] | ||||||
Total market value as at beginning of the year (in million pesos) | 12,848 | € 213 | 10,058 | € 193 | 14,587 | |
Closing price per share at end of the year (in Euros) | € / shares | € 20.18 | € 21.13 | € 19.13 | |||
Total market value as at end of the year (in million Euros) | 3,128 | € 52 | 12,848 | € 213 | 10,058 | € 193 |
Total cost of sold shares (in million pesos) | 9,563 | |||||
Net gains (losses) recognized during the year (in million pesos) | (157) | 2,790 | (4,529) | |||
Recognized in profit or loss (in million pesos) | ₱ (157) | (540) | (5,381) | |||
Recognized in other comprehensive loss (in million pesos) | ₱ 3,330 | ₱ 852 |
Investment in Debt Securities_3
Investment in Debt Securities and Other Long-term Investments - Summary of Investment in Debt Securities and Other Long-term Investments (Detail) - PHP (₱) ₱ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of detailed information about financial instruments [Line Items] | ||
Investment in debt securities and other long-term investments | ₱ 150 | ₱ 250 |
Current portion of investment in debt securities and other long-term investments (Note 12) | 100 | |
Investment in debt securities and other long-term investments – net of current portion (Note 12) | 150 | 150 |
Seven Year GT Capital Bond [Member] | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Investment in debt securities and other long-term investments | ₱ 150 | 150 |
Security Bank Corporation Time Deposits [Member] | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Investment in debt securities and other long-term investments | ₱ 100 |
Investment in Debt Securities_4
Investment in Debt Securities and Other Long-term Investments - Additional Information (Detail) ₱ in Thousands, $ in Thousands | Dec. 30, 2017PHP (₱) | Dec. 30, 2017USD ($) | Apr. 30, 2013PHP (₱) | Dec. 31, 2018PHP (₱) | Dec. 31, 2018USD ($) | Dec. 31, 2017PHP (₱) | Dec. 31, 2017USD ($) | Dec. 31, 2016PHP (₱) | Dec. 31, 2016USD ($) | Oct. 11, 2017 | May 31, 2013USD ($) | Feb. 28, 2013PHP (₱) | Oct. 31, 2012USD ($) |
Disclosure of detailed information about financial instruments [Line Items] | |||||||||||||
Investment in debt securities and other long-term investments | ₱ 150,000 | ₱ 250,000 | |||||||||||
Seven Year GT Capital Bond [Member] | |||||||||||||
Disclosure of detailed information about financial instruments [Line Items] | |||||||||||||
Investment in debt securities and other long-term investments | 150,000 | 150,000 | |||||||||||
4.00% Security Bank Five Year Time Deposit [Member] | |||||||||||||
Disclosure of detailed information about financial instruments [Line Items] | |||||||||||||
Gross coupon rate | 4.00% | ||||||||||||
Interest income, net of withholding tax | ₱ 7,000 | $ 146 | ₱ 8,900 | $ 188 | |||||||||
Smart Communications, Inc. [Member] | Seven Year GT Capital Bond [Member] | |||||||||||||
Disclosure of detailed information about financial instruments [Line Items] | |||||||||||||
Investment in debt securities and other long-term investments | 150,000 | 150,000 | ₱ 150,000 | ||||||||||
Gross coupon rate | 4.84% | ||||||||||||
Interest income, net of withholding tax | 5,800 | 5,800 | 5,800 | ||||||||||
Smart Communications, Inc. [Member] | PSALM Bonds [Member] | |||||||||||||
Disclosure of detailed information about financial instruments [Line Items] | |||||||||||||
Investment in debt securities and other long-term investments | ₱ 200,000 | ||||||||||||
Gross coupon rate | 7.75% | ||||||||||||
Interest income, net of withholding tax | 2,300 | 7,300 | |||||||||||
Percentage yield to maturity | 4.25% | ||||||||||||
PLDT Inc and Smart Communications Inc [Member] | 4.00% Security Bank Five Year Time Deposit [Member] | |||||||||||||
Disclosure of detailed information about financial instruments [Line Items] | |||||||||||||
Investment in debt securities and other long-term investments | $ | $ 2,500 | ||||||||||||
PLDT Inc. [Member] | 3.5% Security Bank Five Year Time Deposit [Member] | |||||||||||||
Disclosure of detailed information about financial instruments [Line Items] | |||||||||||||
Investment in debt securities and other long-term investments | 100 | $ 2,000 | |||||||||||
Gross coupon rate | 3.50% | ||||||||||||
Interest income, net of withholding tax | ₱ 1,300 | $ 25 | ₱ 3,300 | $ 66 | ₱ 3,100 | $ 66 |
Investment Properties - Summary
Investment Properties - Summary of Changes in Investment Properties (Detail) - PHP (₱) ₱ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Investment Property [Line Items] | ||
Balance at beginning of the year | ₱ 1,635 | ₱ 1,890 |
Net gains (losses) from fair value adjustments charged to profit or loss | 378 | (3) |
Transfers to property and equipment | (1,236) | (13) |
Disposals | (239) | |
Balance at end of the year | 777 | 1,635 |
Land [Member] | ||
Disclosure Of Investment Property [Line Items] | ||
Balance at beginning of the year | 1,322 | 1,567 |
Net gains (losses) from fair value adjustments charged to profit or loss | 389 | 4 |
Transfers to property and equipment | (1,115) | (10) |
Disposals | (239) | |
Balance at end of the year | 596 | 1,322 |
Land Improvements [Member] | ||
Disclosure Of Investment Property [Line Items] | ||
Balance at beginning of the year | 8 | 8 |
Net gains (losses) from fair value adjustments charged to profit or loss | (1) | |
Balance at end of the year | 7 | 8 |
Building [Member] | ||
Disclosure Of Investment Property [Line Items] | ||
Balance at beginning of the year | 305 | 315 |
Net gains (losses) from fair value adjustments charged to profit or loss | (10) | (7) |
Transfers to property and equipment | (121) | (3) |
Balance at end of the year | ₱ 174 | ₱ 305 |
Investment Properties - Additio
Investment Properties - Additional Information (Detail) - PHP (₱) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure Of Investment Property [Line Items] | |||
Repairs and maintenance expenses related to investment properties that do not generate rental income | ₱ 38,000,000 | ₱ 27,000,000 | ₱ 23,000,000 |
Rental income relating to investment properties | 67,000,000 | 68,000,000 | ₱ 74,000,000 |
Transfers into of Level 3 of fair value hierarchy, investment properties | 0 | 0 | |
Transfers out of Level 3 of fair value hierarchy, investment properties | 0 | ₱ 0 | |
Investment property [member] | |||
Disclosure Of Investment Property [Line Items] | |||
Transfers into of Level 3 of fair value hierarchy, investment properties | 0 | ||
Transfers out of Level 3 of fair value hierarchy, investment properties | 0 | ||
Market Approach Using Price Per Square Meter [Member] | Bottom Of Range [Member] | |||
Disclosure Of Investment Property [Line Items] | |||
Valuation for land, price per square meter | 25,000 | ||
Market Approach Using Price Per Square Meter [Member] | Top of range [member] | |||
Disclosure Of Investment Property [Line Items] | |||
Valuation for land, price per square meter | ₱ 30,000 |
Goodwill and Intangible Asset_2
Goodwill and Intangible Assets - Summary of Changes in Goodwill and Intangible Assets (Detail) - PHP (₱) ₱ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | ₱ 69,583 | ||
Amortization of intangible assets (Notes 5 and 14) | 892 | ₱ 835 | ₱ 929 |
Ending balance | 68,583 | 69,583 | |
Costs [Member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | 79,151 | 78,968 | |
Additions | 21 | 138 | |
Disposals | (372) | ||
Deconsolidation | (1,485) | ||
Translation and other adjustments | 24 | 45 | |
Ending balance | 77,339 | 79,151 | 78,968 |
Accumulated depreciation, impairment and amortization [Member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | 9,568 | 8,688 | |
Disposals | (372) | ||
Amortization of intangible assets (Notes 5 and 14) | 892 | 835 | |
Deconsolidation | (1,356) | ||
Translation and other adjustments | 24 | 45 | |
Ending balance | 8,756 | 9,568 | 8,688 |
Franchise [Member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | 1,869 | ||
Ending balance | ₱ 1,682 | ₱ 1,869 | |
Estimated useful lives (in years) | 16 years | 16 years | |
Remaining useful lives (in years) | 9 years | 10 years | |
Franchise [Member] | Costs [Member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | ₱ 3,016 | ₱ 3,016 | |
Ending balance | 3,016 | 3,016 | 3,016 |
Franchise [Member] | Accumulated depreciation, impairment and amortization [Member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | 1,147 | 961 | |
Amortization of intangible assets (Notes 5 and 14) | 187 | 186 | |
Ending balance | 1,334 | 1,147 | 961 |
Customer List [Member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | 1,446 | ||
Ending balance | ₱ 936 | ₱ 1,446 | |
Customer List [Member] | Bottom Of Range [Member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Estimated useful lives (in years) | P2Y | ||
Remaining useful lives (in years) | 1 year | 1 year | |
Customer List [Member] | Top of range [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Estimated useful lives (in years) | P9Y | ||
Remaining useful lives (in years) | 2 years | 3 years | |
Customer List [Member] | Costs [Member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | ₱ 4,726 | ₱ 4,726 | |
Ending balance | 4,726 | 4,726 | 4,726 |
Customer List [Member] | Accumulated depreciation, impairment and amortization [Member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | 3,280 | 2,769 | |
Amortization of intangible assets (Notes 5 and 14) | 510 | 511 | |
Ending balance | 3,790 | 3,280 | 2,769 |
Spectrum [Member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | 134 | ||
Ending balance | ₱ 53 | ₱ 134 | |
Estimated useful lives (in years) | 15 years | 15 years | |
Remaining useful lives (in years) | 1 year | 2 years | |
Spectrum [Member] | Costs [Member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | ₱ 1,205 | ₱ 1,205 | |
Ending balance | 1,205 | 1,205 | 1,205 |
Spectrum [Member] | Accumulated depreciation, impairment and amortization [Member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | 1,071 | 991 | |
Amortization of intangible assets (Notes 5 and 14) | 81 | 80 | |
Ending balance | 1,152 | 1,071 | 991 |
Licenses [Member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | 35 | ||
Ending balance | ₱ 28 | ₱ 35 | |
Estimated useful lives (in years) | 18 years | 18 years | |
Remaining useful lives (in years) | 4 years | 5 years | |
Licenses [Member] | Costs [Member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | ₱ 1,079 | ₱ 1,079 | |
Ending balance | 1,079 | 1,079 | 1,079 |
Licenses [Member] | Accumulated depreciation, impairment and amortization [Member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | 1,044 | 1,037 | |
Amortization of intangible assets (Notes 5 and 14) | 7 | 7 | |
Ending balance | 1,051 | 1,044 | 1,037 |
Others [Member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | ₱ 215 | ||
Ending balance | ₱ 215 | ||
Others [Member] | Bottom Of Range [Member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Estimated useful lives (in years) | P1Y | P1Y | |
Remaining useful lives (in years) | 5 years | 5 years | |
Others [Member] | Top of range [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Estimated useful lives (in years) | P10Y | P10Y | |
Remaining useful lives (in years) | 9 years | 9 years | |
Others [Member] | Costs [Member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | ₱ 1,562 | ₱ 1,379 | |
Additions | 21 | 138 | |
Disposals | (372) | ||
Deconsolidation | (460) | ||
Translation and other adjustments | 24 | 45 | |
Ending balance | 775 | 1,562 | 1,379 |
Others [Member] | Accumulated depreciation, impairment and amortization [Member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | 1,347 | 1,251 | |
Disposals | (372) | ||
Amortization of intangible assets (Notes 5 and 14) | 107 | 51 | |
Deconsolidation | (331) | ||
Translation and other adjustments | 24 | 45 | |
Ending balance | 775 | 1,347 | 1,251 |
Intangible Assets with Finite Life [Member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | 3,699 | ||
Ending balance | 2,699 | 3,699 | |
Intangible Assets with Finite Life [Member] | Costs [Member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | 11,588 | 11,405 | |
Additions | 21 | 138 | |
Disposals | (372) | ||
Deconsolidation | (460) | ||
Translation and other adjustments | 24 | 45 | |
Ending balance | 10,801 | 11,588 | 11,405 |
Intangible Assets with Finite Life [Member] | Accumulated depreciation, impairment and amortization [Member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | 7,889 | 7,009 | |
Disposals | (372) | ||
Amortization of intangible assets (Notes 5 and 14) | 892 | 835 | |
Deconsolidation | (331) | ||
Translation and other adjustments | 24 | 45 | |
Ending balance | 8,102 | 7,889 | 7,009 |
Intangible assets other than goodwill [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | 8,204 | ||
Ending balance | 7,204 | 8,204 | |
Intangible assets other than goodwill [member] | Costs [Member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | 16,093 | 15,910 | |
Additions | 21 | 138 | |
Disposals | (372) | ||
Deconsolidation | (460) | ||
Translation and other adjustments | 24 | 45 | |
Ending balance | 15,306 | 16,093 | 15,910 |
Intangible assets other than goodwill [member] | Accumulated depreciation, impairment and amortization [Member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | 7,889 | 7,009 | |
Disposals | (372) | ||
Amortization of intangible assets (Notes 5 and 14) | 892 | 835 | |
Deconsolidation | (331) | ||
Translation and other adjustments | 24 | 45 | |
Ending balance | 8,102 | 7,889 | 7,009 |
Goodwill [Member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | 61,379 | ||
Ending balance | 61,379 | 61,379 | |
Goodwill [Member] | Costs [Member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | 63,058 | 63,058 | |
Deconsolidation | (1,025) | ||
Ending balance | 62,033 | 63,058 | 63,058 |
Goodwill [Member] | Accumulated depreciation, impairment and amortization [Member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | 1,679 | 1,679 | |
Deconsolidation | (1,025) | ||
Ending balance | 654 | 1,679 | 1,679 |
Trademark [Member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | 4,505 | ||
Ending balance | 4,505 | 4,505 | |
Trademark [Member] | Costs [Member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | |||
Beginning balance | 4,505 | 4,505 | |
Ending balance | ₱ 4,505 | ₱ 4,505 | ₱ 4,505 |
Goodwill and Intangible Asset_3
Goodwill and Intangible Assets - Summary of Consolidated Goodwill and Intangible Assets of Reportable Segments (Detail) - PHP (₱) ₱ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | ||
Intangible assets | ₱ 7,204 | ₱ 8,204 |
Goodwill | 61,379 | 61,379 |
Total goodwill and intangible assets | 68,583 | 69,583 |
Franchise [Member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | ||
Intangible assets | 1,682 | 1,869 |
Customer List [Member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | ||
Intangible assets | 936 | 1,446 |
Spectrum [Member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | ||
Intangible assets | 53 | 134 |
Licenses [Member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | ||
Intangible assets | 28 | 35 |
Others [Member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | ||
Intangible assets | 215 | |
Wireless [Member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | ||
Intangible assets | 7,204 | 8,204 |
Goodwill | 56,571 | 56,571 |
Total goodwill and intangible assets | 63,775 | 64,775 |
Wireless [Member] | Franchise [Member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | ||
Intangible assets | 1,682 | 1,869 |
Wireless [Member] | Customer List [Member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | ||
Intangible assets | 936 | 1,446 |
Wireless [Member] | Spectrum [Member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | ||
Intangible assets | 53 | 134 |
Wireless [Member] | Licenses [Member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | ||
Intangible assets | 28 | 35 |
Wireless [Member] | Others [Member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | ||
Intangible assets | 215 | |
Fixed Line [Member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | ||
Goodwill | 4,808 | 4,808 |
Total goodwill and intangible assets | 4,808 | 4,808 |
Trademark [Member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | ||
Intangible assets | 4,505 | 4,505 |
Total goodwill and intangible assets | 4,505 | 4,505 |
Trademark [Member] | Wireless [Member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | ||
Intangible assets | ₱ 4,505 | ₱ 4,505 |
Goodwill and Intangible Asset_4
Goodwill and Intangible Assets - Summary of Future Amortization of Intangible Assets (Detail) - PHP (₱) ₱ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of future amortization of intangible assets [Line Items] | |||
Future amortization of intangible assets | ₱ 892 | ₱ 835 | ₱ 929 |
Future Amortization Intangible Assets | 2,699 | ||
2018 [Member] | |||
Disclosure of future amortization of intangible assets [Line Items] | |||
Future amortization of intangible assets | 758 | ||
2019 [Member] | |||
Disclosure of future amortization of intangible assets [Line Items] | |||
Future amortization of intangible assets | 619 | ||
2020 [Member] | |||
Disclosure of future amortization of intangible assets [Line Items] | |||
Future amortization of intangible assets | 194 | ||
2021 [Member] | |||
Disclosure of future amortization of intangible assets [Line Items] | |||
Future amortization of intangible assets | 191 | ||
2022 and onwards [Member] | |||
Disclosure of future amortization of intangible assets [Line Items] | |||
Future amortization of intangible assets | ₱ 937 |
Goodwill and Intangible Asset_5
Goodwill and Intangible Assets - Additional Information (Detail) - PHP (₱) ₱ in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Wireless [Member] | ||||
Disclosure of detailed information about intangible assets [Line Items] | ||||
Impairment loss relating to goodwill | ₱ 0 | ₱ 0 | ||
Pre-tax discount rates applied to cash flow projections | 9.30% | |||
Growth rate of cash flows beyond the projection period | 3.00% | |||
Fixed Line [Member] | ||||
Disclosure of detailed information about intangible assets [Line Items] | ||||
Impairment loss relating to goodwill | ₱ 0 | ₱ 0 | ||
Pre-tax discount rates applied to cash flow projections | 9.30% | |||
Growth rate of cash flows beyond the projection period | 3.00% | |||
Voyager [Member] | ||||
Disclosure of detailed information about intangible assets [Line Items] | ||||
Additional goodwill | ₱ 980 | |||
Impairment loss relating to goodwill | ₱ 980 |
Cash and Cash Equivalents - Sum
Cash and Cash Equivalents - Summary of Cash and Cash Equivalents (Detail) - PHP (₱) ₱ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Cash And Cash Equivalents [Abstract] | ||||
Cash on hand and in banks (Note 27) | ₱ 5,982 | ₱ 6,351 | ||
Temporary cash investments (Note 27) | 45,672 | 26,554 | ||
Cash and cash equivalents | ₱ 51,654 | ₱ 32,905 | ₱ 38,722 | ₱ 46,455 |
Cash and Cash Equivalents - Add
Cash and Cash Equivalents - Additional Information (Detail) - PHP (₱) ₱ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Cash And Cash Equivalents [Abstract] | |||
Interest income earned from cash in banks and temporary cash investments | ₱ 957 | ₱ 612 | ₱ 582 |
Trade and Other Receivables - S
Trade and Other Receivables - Summary of Trade and Other Receivables (Detail) - PHP (₱) ₱ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure Of Financial Assets [Line Items] | ||
Trade and other receivables | ₱ 24,056 | ₱ 33,761 |
Costs [Member] | ||
Disclosure Of Financial Assets [Line Items] | ||
Trade and other receivables | 40,559 | 48,262 |
Costs [Member] | Retail subscribers [Member] | ||
Disclosure Of Financial Assets [Line Items] | ||
Trade and other receivables | 19,444 | 17,961 |
Costs [Member] | Corporate subscribers [Member] | ||
Disclosure Of Financial Assets [Line Items] | ||
Trade and other receivables | 11,073 | 9,641 |
Costs [Member] | Foreign administrations [Member] | ||
Disclosure Of Financial Assets [Line Items] | ||
Trade and other receivables | 4,225 | 6,517 |
Costs [Member] | Domestic carriers [Member] | ||
Disclosure Of Financial Assets [Line Items] | ||
Trade and other receivables | 270 | 457 |
Costs [Member] | Dealers agents and others [Member] | ||
Disclosure Of Financial Assets [Line Items] | ||
Trade and other receivables | 5,547 | 13,686 |
Accumulated provision for doubtful accounts [Member] | ||
Disclosure Of Financial Assets [Line Items] | ||
Trade and other receivables | ₱ 16,503 | ₱ 14,501 |
Trade and Other Receivables - A
Trade and Other Receivables - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2018 | |
Bottom of Range [Member] | |
Disclosure Of Financial Assets [Line Items] | |
Trade and other receivable settlement terms | 30 days |
Top of Range [Member] | |
Disclosure Of Financial Assets [Line Items] | |
Trade and other receivable settlement terms | 180 days |
Trade and Other Receivables -_2
Trade and Other Receivables - Summary of Changes in the Allowance for Expected Credit Losses (Detail) ₱ in Millions | 12 Months Ended |
Dec. 31, 2018PHP (₱) | |
Disclosure Of Financial Assets [Line Items] | |
Balance as at beginning of the year | ₱ 14,723 |
Balance at end of the year | 16,739 |
Trade and Other Receivables [Member] | |
Disclosure Of Financial Assets [Line Items] | |
Balance as at beginning of the year | 14,759 |
Reclassifications and reversals | 47 |
Provisions | 4,192 |
Business combination/dissolution | (57) |
Write-offs | (2,444) |
Translation adjustments | 6 |
Balance at end of the year | 16,503 |
Trade and Other Receivables [Member] | Stage 2 [Member] | |
Disclosure Of Financial Assets [Line Items] | |
Balance as at beginning of the year | 1,416 |
Reclassifications and reversals | (13) |
Provisions | 247 |
Business combination/dissolution | (57) |
Write-offs | (3) |
Translation adjustments | 5 |
Balance at end of the year | 1,595 |
Trade and Other Receivables [Member] | Stage 3 [Member] | |
Disclosure Of Financial Assets [Line Items] | |
Balance as at beginning of the year | 13,343 |
Reclassifications and reversals | 60 |
Provisions | 3,945 |
Write-offs | (2,441) |
Translation adjustments | 1 |
Balance at end of the year | 14,908 |
Trade and Other Receivables [Member] | Retail subscribers [Member] | Stage 2 [Member] | |
Disclosure Of Financial Assets [Line Items] | |
Balance as at beginning of the year | 787 |
Reclassifications and reversals | 86 |
Provisions | 20 |
Balance at end of the year | 893 |
Trade and Other Receivables [Member] | Retail subscribers [Member] | Stage 3 [Member] | |
Disclosure Of Financial Assets [Line Items] | |
Balance as at beginning of the year | 7,925 |
Reclassifications and reversals | 6 |
Provisions | 3,109 |
Write-offs | (2,109) |
Balance at end of the year | 8,931 |
Trade and Other Receivables [Member] | Corporate subscribers [Member] | Stage 2 [Member] | |
Disclosure Of Financial Assets [Line Items] | |
Balance as at beginning of the year | 474 |
Reclassifications and reversals | (48) |
Provisions | 172 |
Translation adjustments | 5 |
Balance at end of the year | 603 |
Trade and Other Receivables [Member] | Corporate subscribers [Member] | Stage 3 [Member] | |
Disclosure Of Financial Assets [Line Items] | |
Balance as at beginning of the year | 3,212 |
Reclassifications and reversals | 201 |
Provisions | 820 |
Write-offs | (328) |
Translation adjustments | 1 |
Balance at end of the year | 3,906 |
Trade and Other Receivables [Member] | Foreign administrations [Member] | Stage 2 [Member] | |
Disclosure Of Financial Assets [Line Items] | |
Balance as at beginning of the year | 7 |
Reclassifications and reversals | (46) |
Provisions | 44 |
Balance at end of the year | 5 |
Trade and Other Receivables [Member] | Foreign administrations [Member] | Stage 3 [Member] | |
Disclosure Of Financial Assets [Line Items] | |
Balance as at beginning of the year | 925 |
Reclassifications and reversals | 2 |
Financial assets derecognized during the year | (13) |
Balance at end of the year | 914 |
Trade and Other Receivables [Member] | Domestic carriers [Member] | Stage 2 [Member] | |
Disclosure Of Financial Assets [Line Items] | |
Balance as at beginning of the year | 1 |
Provisions | 2 |
Balance at end of the year | 3 |
Trade and Other Receivables [Member] | Domestic carriers [Member] | Stage 3 [Member] | |
Disclosure Of Financial Assets [Line Items] | |
Balance as at beginning of the year | 75 |
Reclassifications and reversals | (3) |
Provisions | 2 |
Balance at end of the year | 74 |
Trade and Other Receivables [Member] | Dealers agents and others [Member] | Stage 2 [Member] | |
Disclosure Of Financial Assets [Line Items] | |
Balance as at beginning of the year | 147 |
Reclassifications and reversals | (5) |
Provisions | 9 |
Business combination/dissolution | (57) |
Write-offs | (3) |
Balance at end of the year | 91 |
Trade and Other Receivables [Member] | Dealers agents and others [Member] | Stage 3 [Member] | |
Disclosure Of Financial Assets [Line Items] | |
Balance as at beginning of the year | 1,206 |
Reclassifications and reversals | (146) |
Provisions | 27 |
Write-offs | (4) |
Balance at end of the year | ₱ 1,083 |
Trade and Other Receivables -_3
Trade and Other Receivables - Summary of Changes in Allowance for Doubtful Accounts (Detail) - PHP (₱) ₱ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure Of Financial Assets [Line Items] | |||
Balance as at beginning of the year | ₱ 14,723 | ||
Balance at end of the year | 16,739 | ₱ 14,723 | |
Impairment | 164 | ₱ 36 | |
Trade receivables [Member] | |||
Disclosure Of Financial Assets [Line Items] | |||
Balance as at beginning of the year | 14,501 | 18,788 | |
Provisions (reversals) and other adjustments | (1,029) | ||
Write-offs | (3,258) | ||
Balance at end of the year | 14,501 | 18,788 | |
Gross amount of receivables individually impaired, before deducting any impairment allowance | 10,160 | ||
Trade receivables [Member] | Individual impairment [Member] | |||
Disclosure Of Financial Assets [Line Items] | |||
Impairment | 10,160 | ||
Trade receivables [Member] | Collective impairment [Member] | |||
Disclosure Of Financial Assets [Line Items] | |||
Impairment | 4,341 | ||
Trade receivables [Member] | Retail subscribers [Member] | |||
Disclosure Of Financial Assets [Line Items] | |||
Balance as at beginning of the year | 8,778 | 12,588 | |
Provisions (reversals) and other adjustments | (1,166) | ||
Write-offs | (2,644) | ||
Balance at end of the year | 8,778 | 12,588 | |
Gross amount of receivables individually impaired, before deducting any impairment allowance | 5,747 | ||
Trade receivables [Member] | Retail subscribers [Member] | Individual impairment [Member] | |||
Disclosure Of Financial Assets [Line Items] | |||
Impairment | 5,747 | ||
Trade receivables [Member] | Retail subscribers [Member] | Collective impairment [Member] | |||
Disclosure Of Financial Assets [Line Items] | |||
Impairment | 3,031 | ||
Trade receivables [Member] | Corporate subscribers [Member] | |||
Disclosure Of Financial Assets [Line Items] | |||
Balance as at beginning of the year | 3,304 | 3,827 | |
Provisions (reversals) and other adjustments | 15 | ||
Write-offs | (538) | ||
Balance at end of the year | 3,304 | 3,827 | |
Gross amount of receivables individually impaired, before deducting any impairment allowance | 3,177 | ||
Trade receivables [Member] | Corporate subscribers [Member] | Individual impairment [Member] | |||
Disclosure Of Financial Assets [Line Items] | |||
Impairment | 3,177 | ||
Trade receivables [Member] | Corporate subscribers [Member] | Collective impairment [Member] | |||
Disclosure Of Financial Assets [Line Items] | |||
Impairment | 127 | ||
Trade receivables [Member] | Foreign administrations [Member] | |||
Disclosure Of Financial Assets [Line Items] | |||
Balance as at beginning of the year | 938 | 628 | |
Provisions (reversals) and other adjustments | 310 | ||
Balance at end of the year | 938 | 628 | |
Gross amount of receivables individually impaired, before deducting any impairment allowance | 104 | ||
Trade receivables [Member] | Foreign administrations [Member] | Individual impairment [Member] | |||
Disclosure Of Financial Assets [Line Items] | |||
Impairment | 104 | ||
Trade receivables [Member] | Foreign administrations [Member] | Collective impairment [Member] | |||
Disclosure Of Financial Assets [Line Items] | |||
Impairment | 834 | ||
Trade receivables [Member] | Domestic carriers [Member] | |||
Disclosure Of Financial Assets [Line Items] | |||
Balance as at beginning of the year | 75 | 134 | |
Provisions (reversals) and other adjustments | (59) | ||
Balance at end of the year | 75 | 134 | |
Gross amount of receivables individually impaired, before deducting any impairment allowance | 51 | ||
Trade receivables [Member] | Domestic carriers [Member] | Individual impairment [Member] | |||
Disclosure Of Financial Assets [Line Items] | |||
Impairment | 51 | ||
Trade receivables [Member] | Domestic carriers [Member] | Collective impairment [Member] | |||
Disclosure Of Financial Assets [Line Items] | |||
Impairment | 24 | ||
Trade receivables [Member] | Dealers agents and others [Member] | |||
Disclosure Of Financial Assets [Line Items] | |||
Balance as at beginning of the year | ₱ 1,406 | 1,611 | |
Provisions (reversals) and other adjustments | (129) | ||
Write-offs | (76) | ||
Balance at end of the year | 1,406 | ₱ 1,611 | |
Gross amount of receivables individually impaired, before deducting any impairment allowance | 1,081 | ||
Trade receivables [Member] | Dealers agents and others [Member] | Individual impairment [Member] | |||
Disclosure Of Financial Assets [Line Items] | |||
Impairment | 1,081 | ||
Trade receivables [Member] | Dealers agents and others [Member] | Collective impairment [Member] | |||
Disclosure Of Financial Assets [Line Items] | |||
Impairment | ₱ 325 |
Inventories and Supplies - Summ
Inventories and Supplies - Summary of Inventories and Supplies (Detail) - PHP (₱) ₱ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure Of Inventories And Supplies [Line Items] | ||
Inventories and supplies | ₱ 2,878 | ₱ 3,933 |
Total inventories and supplies at the lower of cost or net realizable value | 2,878 | 3,933 |
Terminal and cellular phone units [Member] | ||
Disclosure Of Inventories And Supplies [Line Items] | ||
Inventories net realisable value | 2,093 | 2,691 |
Inventories and supplies | 3,423 | 3,834 |
Spare parts and supplies [Member] | ||
Disclosure Of Inventories And Supplies [Line Items] | ||
Inventories net realisable value | 173 | 664 |
Inventories and supplies | 1,673 | 1,428 |
Others [Member] | ||
Disclosure Of Inventories And Supplies [Line Items] | ||
Inventories net realisable value | 612 | 578 |
Inventories and supplies | ₱ 994 | ₱ 1,163 |
Inventories and Supplies - Su_2
Inventories and Supplies - Summary of Cost of Inventories and Supplies Recognized as Expense (Detail) - PHP (₱) ₱ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Classes Of Inventories [Abstract] | |||
Cost of sales and services | ₱ 10,632 | ₱ 10,951 | ₱ 15,965 |
Provisions (Note 5) | 1,528 | 907 | 1,941 |
Repairs and maintenance | 692 | 721 | 596 |
Inventories and supplies recognized as expense | ₱ 12,852 | ₱ 12,579 | ₱ 18,502 |
Inventories and Supplies - Su_3
Inventories and Supplies - Summary of Changes in Allowance for Inventory Obsolescence and Write-down (Detail) - PHP (₱) ₱ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Classes Of Inventories [Abstract] | |||
Balance at beginning of the year | ₱ 2,492 | ₱ 2,617 | |
Provisions (Note 5) | 1,528 | 907 | ₱ 1,941 |
Write-off and others | (808) | (1,032) | |
Balance at end of the year | ₱ 3,212 | ₱ 2,492 | ₱ 2,617 |
Prepayments - Summary of Prepay
Prepayments - Summary of Prepayments (Detail) - PHP (₱) ₱ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Statement Of Financial Position [Abstract] | ||
Prepaid taxes | ₱ 11,466 | ₱ 10,451 |
Prepaid fees and licenses | 915 | 848 |
Prepaid rent | 672 | 2,126 |
Prepaid benefit costs (Note 25) | 393 | 400 |
Prepaid repairs and maintenance | 204 | 207 |
Prepaid insurance (Note 24) | 63 | 105 |
Prepaid selling and promotions (Note 24) | 6 | 289 |
Other prepayments (Note 24) | 296 | 577 |
Prepayments | 14,015 | 15,003 |
Less current portion of prepayments | 7,760 | 9,633 |
Noncurrent portion of prepayments | ₱ 6,255 | ₱ 5,370 |
Equity - Summary of Number of S
Equity - Summary of Number of Shares of Subscribed and Outstanding Capital Stock (Detail) - shares shares in Millions | Dec. 31, 2018 | Dec. 31, 2017 | Jun. 05, 2012 | |
Non-voting Serial Preferred Stock [Member] | ||||
Disclosure Of Classes Of Share Capital [Line Items] | ||||
Authorized | 388 | 388 | 807.5 | |
Subscribed | [1] | 300 | 300 | |
Outstanding | [1] | 300 | 300 | |
Voting Preferred Stock [Member] | ||||
Disclosure Of Classes Of Share Capital [Line Items] | ||||
Authorized | 150 | 150 | 150 | |
Subscribed | 150 | 150 | ||
Outstanding | 150 | 150 | ||
Common Stock [Member] | ||||
Disclosure Of Classes Of Share Capital [Line Items] | ||||
Authorized | 234 | 234 | ||
Subscribed | 219 | 219 | ||
Outstanding | 216 | 216 | ||
Treasury stock [Member] | ||||
Disclosure Of Classes Of Share Capital [Line Items] | ||||
Outstanding | 3 | 3 | ||
[1] | Includes 300 million shares of Series IV Cumulative Non-Convertible Redeemable Preferred Stock subscribed for Php3 billion, of which Php360 million has been paid. |
Equity - Summary of Number of_2
Equity - Summary of Number of Shares of Subscribed and Outstanding Capital Stock (Parenthetical) (Detail) - PHP (₱) ₱ in Millions, shares in Millions | Jan. 28, 2014 | Jan. 29, 2013 | Dec. 31, 2018 |
Series IV Cumulative Non-Convertible Redeemable Preferred Stock [Member] | |||
Disclosure Of Classes Of Share Capital [Line Items] | |||
Number of shares issued | 300 | ||
Initial capitalization amount | ₱ 3,000 | ||
Number of shares issued, paid | ₱ 360 | ||
Cumulative dividends annual rate | 13.50% | ||
Series of HH 10% Cumulative Convertible Preferred Stock [Member] | |||
Disclosure Of Classes Of Share Capital [Line Items] | |||
Cumulative dividends annual rate | 10.00% | 10.00% |
Equity - Additional Information
Equity - Additional Information (Detail) - PHP (₱) ₱ / shares in Units, ₱ in Thousands | Jan. 26, 2016 | Jan. 28, 2014 | Jan. 08, 2014 | Jan. 29, 2013 | Oct. 16, 2012 | Oct. 12, 2012 | Jun. 05, 2012 | May 08, 2012 | Sep. 23, 2011 | Nov. 30, 2010 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Jul. 18, 2017 | Mar. 06, 2017 | Mar. 03, 2017 | Jun. 08, 2015 | May 16, 2014 | Nov. 05, 2013 | |
Disclosure Of Classes Of Share Capital [Line Items] | ||||||||||||||||||||
Payments on redemption of preferred shares | ₱ 8,000 | ₱ 13,000 | ₱ 23,000 | |||||||||||||||||
Liability from redemption of preferred shares | ₱ 7,862,000 | 7,870,000 | ||||||||||||||||||
Number of shares approved to buyback in share buyback program | 5,000,000 | |||||||||||||||||||
Percentage of ownership interest approved to buyback in share buyback program | 3.00% | |||||||||||||||||||
Number of shares buyback pursuant to share buyback Program | 2,720,000 | |||||||||||||||||||
Weighted average price per share pursuant to share buyback program | ₱ 2,388 | |||||||||||||||||||
Total consideration pursuant to share buyback program | ₱ 6,505,000 | |||||||||||||||||||
Unappropriated retained earnings | ₱ 12,081,000 | 634,000 | ||||||||||||||||||
Effect of IAS 27 adjustments | 20,472,000 | 34,518,000 | ||||||||||||||||||
Distributions paid | 13,902,000 | 16,545,000 | ₱ 23,042,000 | |||||||||||||||||
Perpetual notes facility agreement [Member] | Smart [Member] | ||||||||||||||||||||
Disclosure Of Classes Of Share Capital [Line Items] | ||||||||||||||||||||
Perpetual notes issued | 1,100,000 | ₱ 1,100,000 | ₱ 1,590,000 | ₱ 2,610,000 | ||||||||||||||||
Perpetual notes facility agreement [Member] | Smart [Member] | Two Notes Facility Agreements [Member] | ||||||||||||||||||||
Disclosure Of Classes Of Share Capital [Line Items] | ||||||||||||||||||||
Transaction costs accounted as deduction | 35,000 | |||||||||||||||||||
Distributions paid | 236,000 | 177,000 | ||||||||||||||||||
Perpetual notes facility agreement [Member] | Smart [Member] | New Notes Facility Agreement [Member] | ||||||||||||||||||||
Disclosure Of Classes Of Share Capital [Line Items] | ||||||||||||||||||||
Transaction costs accounted as deduction | 5,000 | |||||||||||||||||||
Distributions paid | 57,000 | 14,000 | ||||||||||||||||||
Accrued expenses and other current liabilities [member] | ||||||||||||||||||||
Disclosure Of Classes Of Share Capital [Line Items] | ||||||||||||||||||||
Liability from redemption of preferred shares | 7,862,000 | 7,870,000 | ||||||||||||||||||
Parent [Member] | ||||||||||||||||||||
Disclosure Of Classes Of Share Capital [Line Items] | ||||||||||||||||||||
Unappropriated retained earnings | ₱ 32,553,000 | ₱ 35,152,000 | ||||||||||||||||||
Series JJ 10% Cumulative Convertible Preferred Stock [Member] | ||||||||||||||||||||
Disclosure Of Classes Of Share Capital [Line Items] | ||||||||||||||||||||
Number of shares authorized | 50,000 | |||||||||||||||||||
Number of shares issued | 870 | |||||||||||||||||||
Cumulative dividends annual rate | 10.00% | |||||||||||||||||||
Period required for redemption of shares after issuance | 5 years | |||||||||||||||||||
Series KK 10% Cumulative Convertible Preferred Stock [Member] | ||||||||||||||||||||
Disclosure Of Classes Of Share Capital [Line Items] | ||||||||||||||||||||
Number of shares authorized | 20,000 | |||||||||||||||||||
Cumulative dividends annual rate | 10.00% | |||||||||||||||||||
Conversion price equivalent percentage | 10.00% | |||||||||||||||||||
Par value | ₱ 10 | |||||||||||||||||||
Period required for redemption of shares after issuance | 5 years | |||||||||||||||||||
Series II 10% Percent Cumulative Convertible Preferred Stock [Member] | ||||||||||||||||||||
Disclosure Of Classes Of Share Capital [Line Items] | ||||||||||||||||||||
Cumulative dividends annual rate | 10.00% | |||||||||||||||||||
Funds set aside for redemption of shares | ₱ 4 | |||||||||||||||||||
Holding period for redemption trust fund | 10 years | |||||||||||||||||||
Series IV Cumulative Non-Convertible Redeemable Preferred Stock [Member] | ||||||||||||||||||||
Disclosure Of Classes Of Share Capital [Line Items] | ||||||||||||||||||||
Number of shares issued | 300,000,000 | |||||||||||||||||||
Cumulative dividends annual rate | 13.50% | |||||||||||||||||||
Initial capitalization amount | ₱ 3,000,000 | |||||||||||||||||||
Voting Preferred Stock [Member] | ||||||||||||||||||||
Disclosure Of Classes Of Share Capital [Line Items] | ||||||||||||||||||||
Number of shares authorized | 150,000,000 | 150,000,000 | 150,000,000 | |||||||||||||||||
Number of shares issued | 150,000,000 | 150,000,000 | ||||||||||||||||||
Cumulative dividends annual rate | 6.50% | |||||||||||||||||||
Par value | ₱ 1 | |||||||||||||||||||
Minimum capital stock percentage required to own by citizens of Philippines | 60.00% | |||||||||||||||||||
Minimum percentage of number of board of directors to be citizens of Philippines | 60.00% | |||||||||||||||||||
Minimum percentage of funds to accrue to the benefit of citizens of the Philippines, or Qualified Owners | 60.00% | |||||||||||||||||||
Initial capitalization amount | ₱ 150,000 | ₱ 150,000 | ||||||||||||||||||
Voting Preferred Stock [Member] | Beneficial Trust Fund Holdings Inc. [Member] | ||||||||||||||||||||
Disclosure Of Classes Of Share Capital [Line Items] | ||||||||||||||||||||
Number of shares issued | 150,000,000 | |||||||||||||||||||
Par value | ₱ 1 | |||||||||||||||||||
Initial capitalization amount | ₱ 150,000 | |||||||||||||||||||
Voting Preferred Stock [Member] | NTT Group [Member] | ||||||||||||||||||||
Disclosure Of Classes Of Share Capital [Line Items] | ||||||||||||||||||||
Percentage of economic and voting interest held by strategic partner | 12.00% | 12.00% | ||||||||||||||||||
Voting Preferred Stock [Member] | First Pacific Group and Philippine Affiliates [Member] | ||||||||||||||||||||
Disclosure Of Classes Of Share Capital [Line Items] | ||||||||||||||||||||
Percentage of economic and voting interest held by strategic partner | 15.00% | |||||||||||||||||||
Voting Preferred Stock [Member] | JG Summit Group [Member] | ||||||||||||||||||||
Disclosure Of Classes Of Share Capital [Line Items] | ||||||||||||||||||||
Percentage of economic and voting interest held by strategic partner | 5.00% | |||||||||||||||||||
Non-voting Serial Preferred Stock [Member] | ||||||||||||||||||||
Disclosure Of Classes Of Share Capital [Line Items] | ||||||||||||||||||||
Number of shares authorized | 807,500,000 | 388,000,000 | 388,000,000 | |||||||||||||||||
Number of shares issued | [1] | 300,000,000 | 300,000,000 | |||||||||||||||||
Par value | ₱ 10 | |||||||||||||||||||
Initial capitalization amount | ₱ 360,000 | ₱ 360,000 | ||||||||||||||||||
Series A to FF 10% Cumulative Convertible Preferred Stock [Member] | ||||||||||||||||||||
Disclosure Of Classes Of Share Capital [Line Items] | ||||||||||||||||||||
Cumulative dividends annual rate | 10.00% | |||||||||||||||||||
Funds set aside for redemption of shares | ₱ 4,029,000 | |||||||||||||||||||
Amount of unclaimed dividends | 4,143,000 | |||||||||||||||||||
Total funds for redemption of shares | ₱ 8,172,000 | |||||||||||||||||||
Holding period for redemption trust fund | 10 years | |||||||||||||||||||
Series GG 10% Cumulative Convertible Preferred Stock [Member] | ||||||||||||||||||||
Disclosure Of Classes Of Share Capital [Line Items] | ||||||||||||||||||||
Cumulative dividends annual rate | 10.00% | |||||||||||||||||||
Funds set aside for redemption of shares | ₱ 236 | |||||||||||||||||||
Amount of unclaimed dividends | 74 | |||||||||||||||||||
Total funds for redemption of shares | ₱ 310 | |||||||||||||||||||
Holding period for redemption trust fund | 10 years | |||||||||||||||||||
Series of HH 10% Cumulative Convertible Preferred Stock [Member] | ||||||||||||||||||||
Disclosure Of Classes Of Share Capital [Line Items] | ||||||||||||||||||||
Cumulative dividends annual rate | 10.00% | 10.00% | ||||||||||||||||||
Funds set aside for redemption of shares | ₱ 24 | ₱ 2 | ||||||||||||||||||
Amount of unclaimed dividends | 6 | 1 | ||||||||||||||||||
Total funds for redemption of shares | ₱ 30 | ₱ 3 | ||||||||||||||||||
Holding period for redemption trust fund | 10 years | 10 years | ||||||||||||||||||
[1] | Includes 300 million shares of Series IV Cumulative Non-Convertible Redeemable Preferred Stock subscribed for Php3 billion, of which Php360 million has been paid. |
Equity - Summary of Dividends D
Equity - Summary of Dividends Declared (Detail) - PHP (₱) ₱ / shares in Units, ₱ in Millions | 3 Months Ended | 12 Months Ended | ||||||||||||||
Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure Of Dividends [Line Items] | ||||||||||||||||
Total Amount | ₱ 13,887 | ₱ 16,479 | ₱ 22,961 | |||||||||||||
Events After Reporting Period [Member] | ||||||||||||||||
Disclosure Of Dividends [Line Items] | ||||||||||||||||
Total Amount | ₱ 7,793 | |||||||||||||||
Series JJ Cumulative Convertible Preferred Stock [Member] | ||||||||||||||||
Disclosure Of Dividends [Line Items] | ||||||||||||||||
Approved Date | Jun. 13, 2018 | May 12, 2017 | May 3, 2016 | |||||||||||||
Record Date | Jun. 28, 2018 | Jun. 1, 2017 | Jun. 2, 2016 | |||||||||||||
Payable Date | Jun. 29, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | |||||||||||||
Per Share Amount | ₱ 1 | ₱ 1 | ₱ 1 | |||||||||||||
Series IV Cumulative Non-Convertible Redeemable Preferred Stock [Member] | ||||||||||||||||
Disclosure Of Dividends [Line Items] | ||||||||||||||||
Approved Date | Nov. 8, 2018 | Aug. 9, 2018 | May 10, 2018 | Jan. 22, 2018 | Nov. 9, 2017 | Aug. 10, 2017 | May 12, 2017 | Feb. 7, 2017 | Nov. 14, 2016 | Aug. 2, 2016 | May 3, 2016 | Jan. 26, 2016 | ||||
Record Date | Nov. 23, 2018 | Aug. 28, 2018 | May 25, 2018 | Feb. 21, 2018 | Nov. 28, 2017 | Aug. 25, 2017 | May 26, 2017 | Feb. 24, 2017 | Nov. 28, 2016 | Aug. 18, 2016 | May 24, 2016 | Feb. 24, 2016 | ||||
Payable Date | Dec. 15, 2018 | Sep. 15, 2018 | Jun. 15, 2018 | Mar. 15, 2018 | Dec. 15, 2017 | Sep. 15, 2017 | Jun. 15, 2017 | Mar. 15, 2017 | Dec. 15, 2016 | Sep. 15, 2016 | Jun. 15, 2016 | Mar. 15, 2016 | ||||
Total Amount | ₱ 12 | ₱ 13 | ₱ 12 | ₱ 12 | ₱ 12 | ₱ 13 | ₱ 12 | ₱ 12 | ₱ 12 | ₱ 12 | ₱ 12 | ₱ 12 | ||||
Series IV Cumulative Non-Convertible Redeemable Preferred Stock [Member] | Events After Reporting Period [Member] | ||||||||||||||||
Disclosure Of Dividends [Line Items] | ||||||||||||||||
Approved Date | Jan. 29, 2019 | |||||||||||||||
Record Date | Feb. 22, 2019 | |||||||||||||||
Payable Date | Mar. 15, 2019 | |||||||||||||||
Total Amount | ₱ 12 | |||||||||||||||
Non-Convertible Redeemable Preferred Stock [Member] | ||||||||||||||||
Disclosure Of Dividends [Line Items] | ||||||||||||||||
Total Amount | 49 | 49 | 48 | |||||||||||||
Voting Preferred Stock [Member] | ||||||||||||||||
Disclosure Of Dividends [Line Items] | ||||||||||||||||
Approved Date | Dec. 4, 2018 | Sep. 25, 2018 | Jun. 13, 2018 | Mar. 8, 2018 | Dec. 5, 2017 | Sep. 26, 2017 | Jun. 13, 2017 | Mar. 7, 2017 | Dec. 6, 2016 | Aug. 30, 2016 | Jun. 14, 2016 | Feb. 29, 2016 | ||||
Record Date | Dec. 19, 2018 | Oct. 9, 2018 | Jun. 29, 2018 | Mar. 28, 2018 | Dec. 20, 2017 | Oct. 10, 2017 | Jun. 27, 2017 | Mar. 30, 2017 | Dec. 20, 2016 | Sep. 20, 2016 | Jun. 30, 2016 | Mar. 30, 2016 | ||||
Payable Date | Jan. 15, 2019 | Oct. 15, 2018 | Jul. 15, 2018 | Apr. 15, 2018 | Jan. 15, 2018 | Oct. 15, 2017 | Jul. 15, 2017 | Apr. 15, 2017 | Jan. 15, 2017 | Oct. 15, 2016 | Jul. 15, 2016 | Apr. 15, 2016 | ||||
Total Amount | ₱ 3 | ₱ 2 | ₱ 2 | ₱ 3 | ₱ 3 | ₱ 2 | ₱ 2 | ₱ 3 | ₱ 3 | ₱ 2 | ₱ 3 | ₱ 3 | 10 | 10 | 11 | |
Voting Preferred Stock [Member] | Events After Reporting Period [Member] | ||||||||||||||||
Disclosure Of Dividends [Line Items] | ||||||||||||||||
Approved Date | Mar. 7, 2019 | |||||||||||||||
Record Date | Mar. 27, 2019 | |||||||||||||||
Payable Date | Apr. 15, 2019 | |||||||||||||||
Total Amount | ₱ 3 | |||||||||||||||
Common Stock [Member] | ||||||||||||||||
Disclosure Of Dividends [Line Items] | ||||||||||||||||
Approved Date | Aug. 9, 2018 | Mar. 27, 2018 | Aug. 10, 2017 | Mar. 7, 2017 | Aug. 2, 2016 | Feb. 29, 2016 | ||||||||||
Record Date | Aug. 28, 2018 | Apr. 13, 2018 | Aug. 25, 2017 | Mar. 21, 2017 | Aug. 16, 2016 | Mar. 14, 2016 | ||||||||||
Payable Date | Sep. 11, 2018 | Apr. 27, 2018 | Sep. 8, 2017 | Apr. 6, 2017 | Sep. 1, 2016 | Apr. 1, 2016 | ||||||||||
Per Share Amount | ₱ 36 | ₱ 28 | ₱ 48 | ₱ 28 | ₱ 49 | ₱ 57 | ||||||||||
Total Amount | ₱ 7,778 | ₱ 6,050 | ₱ 10,371 | ₱ 6,049 | ₱ 10,587 | ₱ 12,315 | ₱ 13,828 | ₱ 16,420 | ₱ 22,902 | |||||||
Common Stock [Member] | Events After Reporting Period [Member] | ||||||||||||||||
Disclosure Of Dividends [Line Items] | ||||||||||||||||
Approved Date | Mar. 21, 2019 | |||||||||||||||
Record Date | Apr. 4, 2019 | |||||||||||||||
Payable Date | Apr. 23, 2019 | |||||||||||||||
Per Share Amount | ₱ 36 | |||||||||||||||
Total Amount | ₱ 7,778 | |||||||||||||||
Series II (Final Dividends) Cumulative Convertible Preferred Stock [Member] | ||||||||||||||||
Disclosure Of Dividends [Line Items] | ||||||||||||||||
Approved Date | Apr. 12, 2016 | |||||||||||||||
Record Date | Feb. 10, 2016 | |||||||||||||||
Payable Date | May 11, 2016 |
Equity - Summary of Reconciliat
Equity - Summary of Reconciliation of Consolidated Retained Earnings Available for Dividend Declaration (Detail) - PHP (₱) ₱ in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 12, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure Of Retained Earnings Available For Dividend Declaration [Line Items] | ||||
Consolidated unappropriated retained earnings as at December 31, 2017 | ₱ 12,081 | ₱ 634 | ||
Effect of IAS 27 adjustments | 20,472 | 34,518 | ||
Less: Cumulative unrealized income – net of tax: | ||||
Unrealized foreign exchange gains – net (except those attributable to cash and cash equivalents) | 12 | |||
Net gains (losses) from fair value adjustments charged to profit or loss | 378 | (3) | ||
Parent Company’s net income for the year | 18,857 | 13,312 | ₱ 19,947 | |
Less: Cash dividends declared during the year | ||||
Preferred stock | (59) | (59) | (59) | |
Charged to retained earnings | (13,902) | (16,545) | (23,042) | |
Retained earnings [Member] | ||||
Disclosure Of Retained Earnings Available For Dividend Declaration [Line Items] | ||||
Consolidated unappropriated retained earnings as at December 31, 2017 | 1,157 | |||
Effect of IAS 27 adjustments | 33,995 | |||
Parent Company’s unappropriated retained earnings at beginning of the year | 30,798 | 35,152 | ||
Effect of adoption of IFRS 9 and IFRS 15 | 129 | |||
Parent Company’s unappropriated retained earnings at beginning of the year, as restated | 35,281 | |||
Less: Cumulative unrealized income – net of tax: | ||||
Unrealized foreign exchange gains – net (except those attributable to cash and cash equivalents) | (523) | |||
Net gains (losses) from fair value adjustments charged to profit or loss | ₱ (110) | (778) | ||
Fair value adjustments (mark-to-market gains) | (258) | (3,182) | ||
Parent Company’s unappropriated retained earnings available for dividends, ending balance | 27,702 | 30,798 | 35,152 | |
Parent Company’s net income for the year | 11,159 | |||
Net Income (Loss) Attributable to Equity Owners of Parent | 10,791 | |||
Less: Cash dividends declared during the year | ||||
Preferred stock | (59) | |||
Charged to retained earnings | ₱ (13,887) | (13,887) | ₱ (16,479) | ₱ (22,961) |
Retained earnings [Member] | Common Stock [Member] | ||||
Less: Cash dividends declared during the year | ||||
Common stock | ₱ (13,828) |
Interest-bearing Financial Li_3
Interest-bearing Financial Liabilities - Summary of Interest-bearing Financial Liabilities (Detail) - PHP (₱) ₱ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Long-term portion of interest-bearing financial liabilities: | ||
Long-term debt (Notes 9 and 27) | ₱ 155,835 | ₱ 157,654 |
Current portion of interest-bearing financial liabilities: | ||
Long-term debt maturing within one year (Notes 9 and 27) | ₱ 20,441 | ₱ 14,957 |
Interest-bearing Financial Li_4
Interest-bearing Financial Liabilities - Additional Information (Detail) - PHP (₱) ₱ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure Of Detailed Information About Borrowings [Abstract] | |||
Unamortized Debt Discount | ₱ 418,000 | ₱ 525,000 | ₱ 631,000 |
Percentage of dollar portion of debt | 13.00% | 20.00% | |
Consolidated future minimum payments for finance leases and the long-term portion of obligations under finance leases | ₱ 514 | ₱ 679 |
Interest-bearing Financial Li_5
Interest-bearing Financial Liabilities - Summary of Changes to Unamortized Debt Discount (Detail) - PHP (₱) ₱ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure Of Detailed Information About Borrowings [Abstract] | |||
Unamortized debt discount at beginning of the year | ₱ 525 | ₱ 631 | |
Additions during the year | 38 | 113 | |
Accretion during the year included as part of Financing costs (Note 5) | (145) | (219) | ₱ (230) |
Unamortized debt discount at end of the year | ₱ 418 | ₱ 525 | ₱ 631 |
Interest-bearing Financial Li_6
Interest-bearing Financial Liabilities - Summary of Long-term Debt (Detail) ₱ in Millions, $ in Millions | 12 Months Ended | ||||
Dec. 31, 2018PHP (₱) | Dec. 31, 2018USD ($) | Dec. 31, 2017PHP (₱) | Dec. 31, 2017USD ($) | Jan. 31, 2017USD ($) | |
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Total long-term debt (Notes 27 and 28) | ₱ 176,276 | ₱ 172,611 | $ 25 | ||
Long-term debt maturing within one year (Notes 9 and 27) | 20,441 | 14,957 | |||
Noncurrent portion of long-term debt (Note 27) | 155,835 | 157,654 | |||
U.S. Dollars [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Total long-term debt (Notes 27 and 28) | 23,352 | $ 444 | 35,032 | $ 701 | |
Philippine Peso [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Total long-term debt (Notes 27 and 28) | ₱ 152,924 | 137,579 | |||
Export Kreditnamnden [member] | U.S. Dollars [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Interest Rates, description | 8.3500% in 2017 | ||||
Unsecured Term Loans [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Total long-term debt (Notes 27 and 28) | ₱ 8,830 | 8,910 | |||
Export Credit Agencies-Supported Loans [Member] | Export Kreditnamnden [member] | U.S. Dollars [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Interest Rates, description | 1.4100% in 2018 and 1.4100% to 1.9000% and US$LIBOR + 0.3000% in 2017 | ||||
Total long-term debt (Notes 27 and 28) | ₱ 103 | 2 | 547 | 11 | |
Term Loans | GSM Network Expansion Facilities [Member] | U.S. Dollars [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Interest Rates, description | US$LIBOR + 1.1125% in 2017 | ||||
Term Loans | Others [Member] | U.S. Dollars [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Interest Rates, description | 2.8850% and US$ LIBOR + 0.7900% to 1.6000% in 2018 and 2017 | ||||
Total long-term debt (Notes 27 and 28) | ₱ 23,249 | $ 442 | 34,485 | $ 690 | |
Term Loans | Unsecured Term Loans [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Total long-term debt (Notes 27 and 28) | ₱ 20,828 | 11,945 | |||
Term Loans | Unsecured Term Loans [Member] | Philippine Peso [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Interest Rates, description | 3.9000% to 6.7339%; PDST- R2/(1) PHP BVAL + 0.5000% to 1.0000% in 2018 and 3.9000% to 6.4044%; BSP overnight rate and PDST-R2 + 1.0000% in 2017 | ||||
Total long-term debt (Notes 27 and 28) | ₱ 122,470 | 106,982 | |||
Philippine Peso Debts [Member] | Fixed Rate Corporate Notes [Member] | Philippine Peso [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Interest Rates, description | 5.3938% to 5.9058% in 2018 and 5.3300% to 6.2600% in 2017 | ||||
Total long-term debt (Notes 27 and 28) | ₱ 15,511 | 15,675 | |||
Philippine Peso Debts [Member] | Fixed Rate Retail Bonds [Member] | Philippine Peso [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Interest Rates, description | 5.2250% to 5.2813% in 2018 and 2017 | ||||
Total long-term debt (Notes 27 and 28) | ₱ 14,943 | ₱ 14,922 |
Interest-bearing Financial Li_7
Interest-bearing Financial Liabilities - Summary of Long-term Debt (Parenthetical) (Detail) | Dec. 31, 2018 | Dec. 31, 2017 |
Export Credit Agencies-Supported Loans [Member] | Export Kreditnamnden [member] | U.S. Dollars [Member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Interest rates on borrowings | 1.41% | |
Export Credit Agencies-Supported Loans [Member] | Export Kreditnamnden [member] | London Interbank Offered Rate [Member] | U.S. Dollars [Member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Interest rates at LIBOR | 0.30% | |
Export Credit Agencies-Supported Loans [Member] | Export Kreditnamnden [member] | U.S. Dollars [Member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Interest rates on borrowings | 8.35% | |
Export Credit Agencies-Supported Loans [Member] | Bottom Of Range [Member] | Export Kreditnamnden [member] | U.S. Dollars [Member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Interest rates on borrowings | 1.41% | |
Export Credit Agencies-Supported Loans [Member] | Top of range [member] | Export Kreditnamnden [member] | U.S. Dollars [Member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Interest rates on borrowings | 1.90% | |
Term Loans | GSM Network Expansion Facilities [Member] | London Interbank Offered Rate [Member] | U.S. Dollars [Member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Interest rates at LIBOR | 1.1125% | |
Term Loans | Others [Member] | U.S. Dollars [Member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Interest rates on borrowings | 2.885% | 2.885% |
Term Loans | Unsecured Term Loans [Member] | Bangko Sentral ng Pilipinas Overnight Rate [Member] | Philippine Peso [Member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Overnight rates on borrowing | 1.00% | |
Term Loans | Bottom Of Range [Member] | Others [Member] | London Interbank Offered Rate [Member] | U.S. Dollars [Member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Interest rates at LIBOR | 0.79% | 0.79% |
Term Loans | Bottom Of Range [Member] | Unsecured Term Loans [Member] | Philippine Peso [Member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Interest rates on borrowings | 3.90% | |
Term Loans | Bottom Of Range [Member] | Unsecured Term Loans [Member] | Over PDSTR Two [Member] | Philippine Peso [Member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Interest rates on borrowings | 0.50% | 3.90% |
Term Loans | Top of range [member] | Others [Member] | London Interbank Offered Rate [Member] | U.S. Dollars [Member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Interest rates at LIBOR | 1.60% | 1.60% |
Term Loans | Top of range [member] | Unsecured Term Loans [Member] | Philippine Peso [Member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Interest rates on borrowings | 6.7339% | |
Term Loans | Top of range [member] | Unsecured Term Loans [Member] | Over PDSTR Two [Member] | Philippine Peso [Member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Interest rates on borrowings | 1.00% | 6.4044% |
Philippine Peso Debts [Member] | Bottom Of Range [Member] | Fixed Rate Corporate Notes [Member] | Philippine Peso [Member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Interest rates on borrowings | 5.3938% | 5.33% |
Philippine Peso Debts [Member] | Bottom Of Range [Member] | Fixed Rate Retail Bonds [Member] | Philippine Peso [Member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Interest rates on borrowings | 5.225% | 5.225% |
Philippine Peso Debts [Member] | Top of range [member] | Fixed Rate Corporate Notes [Member] | Philippine Peso [Member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Interest rates on borrowings | 5.9058% | 6.26% |
Philippine Peso Debts [Member] | Top of range [member] | Fixed Rate Retail Bonds [Member] | Philippine Peso [Member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Interest rates on borrowings | 5.2813% | 5.2813% |
Interest-bearing Financial Li_8
Interest-bearing Financial Liabilities - Summary of Scheduled Maturities of Consolidated Outstanding Long-term Debt at Nominal Values (Detail) - Dec. 31, 2018 ₱ in Millions, $ in Millions | PHP (₱) | USD ($) |
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Outstanding long-term debt at nominal values | ₱ 176,694 | |
U.S. Dollars [Member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Outstanding long-term debt at nominal values | 23,447 | $ 446 |
Philippine Peso [Member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Outstanding long-term debt at nominal values | 153,247 | |
2019 [Member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Outstanding long-term debt at nominal values | 20,555 | |
2019 [Member] | U.S. Dollars [Member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Outstanding long-term debt at nominal values | 5,779 | 110 |
2019 [Member] | Philippine Peso [Member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Outstanding long-term debt at nominal values | 14,776 | |
1-2 years [Member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Outstanding long-term debt at nominal values | 20,000 | |
1-2 years [Member] | U.S. Dollars [Member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Outstanding long-term debt at nominal values | 11,057 | 210 |
1-2 years [Member] | Philippine Peso [Member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Outstanding long-term debt at nominal values | 8,943 | |
2021 [Member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Outstanding long-term debt at nominal values | 22,484 | |
2021 [Member] | U.S. Dollars [Member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Outstanding long-term debt at nominal values | 2,386 | 46 |
2021 [Member] | Philippine Peso [Member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Outstanding long-term debt at nominal values | 20,098 | |
2022 [Member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Outstanding long-term debt at nominal values | 15,989 | |
2022 [Member] | U.S. Dollars [Member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Outstanding long-term debt at nominal values | 1,597 | 30 |
2022 [Member] | Philippine Peso [Member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Outstanding long-term debt at nominal values | 14,392 | |
2023 [Member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Outstanding long-term debt at nominal values | 25,412 | |
2023 [Member] | U.S. Dollars [Member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Outstanding long-term debt at nominal values | 1,314 | 25 |
2023 [Member] | Philippine Peso [Member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Outstanding long-term debt at nominal values | 24,098 | |
2024 and onwards [Member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Outstanding long-term debt at nominal values | 72,254 | |
2024 and onwards [Member] | U.S. Dollars [Member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Outstanding long-term debt at nominal values | 1,314 | $ 25 |
2024 and onwards [Member] | Philippine Peso [Member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Outstanding long-term debt at nominal values | ₱ 70,940 |
Interest Bearing Financial Liab
Interest Bearing Financial Liabilities - Summary of Obtained Loans Extended And/Or Guaranteed by Export Credit Agencies (Detail) ₱ in Millions, $ in Millions | 12 Months Ended | ||||
Dec. 31, 2018PHP (₱) | Dec. 31, 2018USD ($) | Dec. 31, 2017PHP (₱) | Dec. 31, 2017USD ($) | Jan. 31, 2017USD ($) | |
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Outstanding Amounts | ₱ 176,276 | ₱ 172,611 | $ 25 | ||
Loan agreement date May 9,2018 [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 3,000 | ||||
Date of Loan Agreement | May 9, 2018 | ||||
Lender(s) | BPI | ||||
Dates Drawn | May 10, 2018 | ||||
Drawn Amount | ₱ 3,000 | ||||
Paid in full on | August 10, 2018 | ||||
Terms | Annual amortization rate equivalent to 1% of the amount drawn starting on the first year anniversary of the advance up to the ninth year anniversary of the advance and the balance payable upon maturity on May 10, 2028 | ||||
Term Loans | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Outstanding Amounts | ₱ 122,470 | 106,982 | |||
Export Kreditnamnden [member] | U.S. Dollar Debts [Member] | Loan amount with fixed coupon rate of 8.350% to finance service improvements and expansion program [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | $ | $ 300 | ||||
Date of Loan Agreement | March 6, 1997 | ||||
Installments Terms | Non- amortizing | ||||
Final Installment Terms | March 6, 2017 | ||||
Paid in full on | March 6, 2017 | ||||
Trustee | Deutsche Bank Trust Company Americas | ||||
Repurchase Date | Various dates in 2008-2014 | ||||
Repurchase Amount | ₱ 71.6 | ||||
Others Two | U.S. Dollar Debts [Member] | Term Loans | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Outstanding Amounts | ₱ 22,666 | 431 | 29,837 | $ 598 | |
Others Two | U.S. Dollar Debts [Member] | Term Loans | May fourteen two thousand fourteen loan agreement [member] | Costs [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | $ | 50 | ||||
Date of Loan Agreement | May 14, 2014 | ||||
Lender(s) | Mizuho Bank Ltd. | ||||
Installments Terms | 9 equal semi-annual installment, commencing 11 months after drawdown date, with final installment on May 14, 2019 | ||||
Dates Drawn | July 1, 2014 | ||||
Drawn Amount | $ | 50 | ||||
Paid in full on | — | ||||
Outstanding Amounts | ₱ 291 | 6 | 828 | 17 | |
Others Two | U.S. Dollar Debts [Member] | Term Loans | August fifth two thousand fourteen loan agreement [member] | Costs [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | $ | 100 | ||||
Date of Loan Agreement | August 5, 2014 | ||||
Lender(s) | Philippine National Bank, or PNB | ||||
Installments Terms | Annual amortization rate of 1% of the issue price on the first year up to the fifth year from the initial drawdown date, with final installment on August 11, 2020 | ||||
Dates Drawn | Various dates in 2014 | ||||
Drawn Amount | $ | 100 | ||||
Paid in full on | — | ||||
Outstanding Amounts | ₱ 5,046 | 96 | 4,846 | 97 | |
Others Two | U.S. Dollar Debts [Member] | Term Loans | August twenty nine two thousand fourteen loan agreement [member] | Costs [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | $ | 50 | ||||
Date of Loan Agreement | August 29, 2014 | ||||
Lender(s) | Metrobank | ||||
Installments Terms | Semi-annual amortization rate of 1% of the issue price on the first year up to the fifth year from the initial drawdown date and the balance payable upon maturity on September 2, 2020 | ||||
Dates Drawn | September 2, 2014 | ||||
Drawn Amount | $ | 50 | ||||
Paid in full on | — | ||||
Outstanding Amounts | ₱ 2,536 | 48 | 2,435 | 49 | |
Others Two | U.S. Dollar Debts [Member] | Term Loans | February twenty six two thousand fifteen loan agreement [member] | Costs [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | $ | 200 | ||||
Date of Loan Agreement | February 26, 2015 | ||||
Lender(s) | MUFG Bank, Ltd. | ||||
Installments Terms | Commencing 36 months after loan date, with semi-annual amortization of 23.75% of the loan amount on the first and second repayment dates and seven semi- annual amortizations of 7.5% starting on the third repayment date, with final installment on February 25, 2022 | ||||
Dates Drawn | Various dates in 2015 | ||||
Drawn Amount | $ | 200 | ||||
Paid in full on | — | ||||
Outstanding Amounts | ₱ 5,492 | 104 | 9,945 | 199 | |
Others Two | U.S. Dollar Debts [Member] | Term Loans | Loan agreement date March 4, 2015 [Member] | Costs [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | $ | 200 | ||||
Date of Loan Agreement | March 4, 2015 | ||||
Lender(s) | Mizuho Bank Ltd. | ||||
Installments Terms | 9 equal semi-annual installments commencing on the date which falls 12 months after the loan date, with final installment on March 4, 2020 | ||||
Dates Drawn | Various dates in 2015 | ||||
Drawn Amount | $ | 200 | ||||
Paid in full on | — | ||||
Outstanding Amounts | ₱ 3,490 | 66 | 5,511 | 110 | |
Others Two | U.S. Dollar Debts [Member] | Term Loans | Loan agreement date December 7, 2015 [Member] | Costs [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | $ | 100 | ||||
Date of Loan Agreement | December 7, 2015 | ||||
Lender(s) | Mizuho Bank Ltd. | ||||
Installments Terms | 13 equal semi-annual installments commencing on the date which falls 12 months after the loan date, with final installment on December 7, 2022 | ||||
Dates Drawn | Various dates in 2016 | ||||
Drawn Amount | $ | 100 | ||||
Paid in full on | — | ||||
Outstanding Amounts | ₱ 3,198 | 61 | 3,791 | 76 | |
Others Two | U.S. Dollar Debts [Member] | Term Loans | Loan agreement date March 22, 2016 [Member] | Costs [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | $ | 25 | ||||
Date of Loan Agreement | March 22, 2016 | ||||
Lender(s) | NTT Finance Corporation | ||||
Installments Terms | Non-amortizing, payable upon maturity on March 30, 2023 | ||||
Dates Drawn | March 30, 2016 | ||||
Drawn Amount | $ | 25 | ||||
Paid in full on | — | ||||
Outstanding Amounts | ₱ 1,307 | 25 | 1,241 | 25 | |
Others Two | U.S. Dollar Debts [Member] | Term Loans | Loan agreement date January 31, 2017 [Member] | Costs [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | $ | 25 | ||||
Date of Loan Agreement | January 31, 2017 | ||||
Lender(s) | NTT Finance Corporation | ||||
Installments Terms | Non-amortizing, payable upon maturity on March 27, 2024 | ||||
Dates Drawn | March 30, 2017 | ||||
Drawn Amount | $ | 25 | ||||
Paid in full on | — | ||||
Outstanding Amounts | ₱ 1,306 | 25 | 1,240 | 25 | |
Others [Member] | U.S. Dollar Debts [Member] | Term Loans | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Outstanding Amounts | 23,249 | 442 | 34,485 | 690 | |
Corporate Notes [Member] | Philippine Peso Debts [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Outstanding Amounts | 15,511 | 15,675 | |||
Corporate Notes [Member] | Philippine Peso Debts [Member] | Loan Agreement Date March Fifteen Two Thousand Twelve [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 5,500 | ||||
Date of Loan Agreement | March 15, 2012 | ||||
Dates Drawn | Drawn and issued on March 19, 2012 | ||||
Facility Agent | Metrobank | ||||
Installments | Series A: 1% annual amortization starting March 19, 2013, with the balance of 96% payable on March 20, 2017; | ||||
Prepayments Amount | ₱ 1,376 | ||||
Prepayments Date | July 19, 2013 | ||||
Corporate Notes [Member] | Philippine Peso Debts [Member] | Loan Agreement Date July Twenty Five Two Thousand Twelve [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 1,500 | ||||
Date of Loan Agreement | July 25, 2012 | ||||
Dates Drawn | July 27, 2012 | ||||
Outstanding Amounts | 282 | 285 | |||
Facility Agent | Metrobank | ||||
Installments | Annual amortization rate of 1% of the issue price on the first year up to the sixth year from issue date and the balance payable upon maturity on July 27, 2019 | ||||
Prepayments Amount | ₱ 1,188 | ||||
Prepayments Date | July 29, 2013 | ||||
Corporate Notes [Member] | Philippine Peso Debts [Member] | Loan Agreement Date September Nineteen Two Thousand Twelve [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 8,800 | ||||
Date of Loan Agreement | September 19, 2012 | ||||
Dates Drawn | September 21, 2012 | ||||
Outstanding Amounts | 6,340 | 6,408 | |||
Facility Agent | Metrobank | ||||
Installments | Series A: 1% annual amortization on the first up to sixth year, with the balance payable on September 21, 2019; | ||||
Prepayments Amount | ₱ 2,055 | ||||
Prepayments Date | June 21, 2013 | ||||
Corporate Notes [Member] | Philippine Peso Debts [Member] | Loan Agreement Date November Twenty Two Thousand Twelve [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 6,200 | ||||
Date of Loan Agreement | November 20, 2012 | ||||
Dates Drawn | November 22, 2012 | ||||
Outstanding Amounts | 5,828 | 5,890 | |||
Facility Agent | BDO Unibank, Inc., or BDO | ||||
Installments | Series A: Annual amortization rate of 1% of the issue price on the first year up to the sixth year from issue date and the balance payable upon maturity on November 22, 2019; | ||||
Prepayments Amount | ₱ 3,549 | ||||
Prepayments Date | February 22, 2019 | ||||
Corporate Notes [Member] | Philippine Peso Debts [Member] | Loan Agreement Date June Fourteen Two Thousand Thirteen [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 2,055 | ||||
Date of Loan Agreement | June 14, 2013 | ||||
Dates Drawn | June 21, 2013 | ||||
Outstanding Amounts | 1,932 | 1,952 | |||
Facility Agent | Metrobank | ||||
Installments | Series A: Annual amortization rate of 1% of the issue price up to the fifth year and the balance payable upon maturity on September 21, 2019; | ||||
Prepayments Date | — | ||||
Corporate Notes [Member] | Philippine Peso Debts [Member] | Loan Agreement Date July Nineteen Two Thousand Thirteen | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 1,188 | ||||
Date of Loan Agreement | July 19, 2013 | ||||
Dates Drawn | July 29, 2013 | ||||
Outstanding Amounts | 1,129 | 1,140 | |||
Facility Agent | Metrobank | ||||
Installments | Annual amortization rate of 1% of the issue on the first year up to the fifth year from the issue date and the balance payable upon maturity on July 27, 2019 | ||||
Prepayments Date | — | ||||
Corporate Notes [Member] | Philippine Peso Debts [Member] | Smart [Member] | Loan Agreement Date June Fourteen Two Thousand Thirteen [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 1,376 | ||||
Date of Loan Agreement | June 14, 2013 | ||||
Dates Drawn | June 19, 2013 | ||||
Facility Agent | Metrobank | ||||
Installments | Series A: Annual amortization equivalent to 1% of the principal amount starting June 19, 2014 with the balance of 97% payable on March 20, 2017; | ||||
Prepayments Amount | ₱ 608 | ||||
Prepayments Date | June 19, 2017 | ||||
Fixed Rate Retail Bonds [Member] | Loan Agreement Date January Twenty Two Two Thousand Fourteen [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 15,000 | ||||
Date of Loan Agreement | January 22, 2014 | ||||
Dates Drawn | February 6, 2014 | ||||
Outstanding Amounts | 14,943 | 14,922 | |||
Facility Agent | Philippine Depositary Trust Corp. | ||||
Installments | Php12.4B – non- amortizing, payable in full upon maturity on February 6, 2021; Php2.6B – non- amortizing payable in full on February 6, 2024 | ||||
Prepayments Date | — | ||||
Unsecured Term Loans [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Outstanding Amounts | ₱ 8,830 | 8,910 | |||
Unsecured Term Loans [Member] | Term Loans | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Outstanding Amounts | 8,464 | ||||
Unsecured Term Loans [Member] | Term Loans | Smart [Member] | Loan agreement date May 25,2018 [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 2,000 | ||||
Date of Loan Agreement | May 25, 2018 | ||||
Lender(s) | BPI | ||||
Dates Drawn | May 28, 2018 | ||||
Drawn Amount | ₱ 2,000 | ||||
Paid in full on | — | ||||
Outstanding Amounts | ₱ 1,986 | ||||
Terms | Annual amortization rate equivalent to 1% of the amount drawn starting on the first year anniversary of the advance up to the fifth year anniversary of the advance and the balance payable upon maturity on May 28, 2024 | ||||
Unsecured Term Loans [Member] | Term Loans | Smart [Member] | Loan agreement date June 27,2018 [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 1,500 | ||||
Date of Loan Agreement | June 27, 2018 | ||||
Lender(s) | Development Bank of the Philippines, or DBP | ||||
Dates Drawn | June 28, 2018 | ||||
Drawn Amount | ₱ 1,500 | ||||
Paid in full on | — | ||||
Outstanding Amounts | ₱ 1,500 | ||||
Terms | Annual amortization rate equivalent to 1% of the amount drawn starting on the third year anniversary of the advance up to the fifth year anniversary of the advance and the balance payable upon maturity on June 28, 2024 | ||||
Unsecured Term Loans [Member] | Term Loans | Smart [Member] | Loan agreement date July 31,2018 [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 3,000 | ||||
Date of Loan Agreement | July 31, 2018 | ||||
Lender(s) | BPI | ||||
Dates Drawn | August 10, 2018 | ||||
Drawn Amount | ₱ 3,000 | ||||
Paid in full on | — | ||||
Outstanding Amounts | ₱ 2,978 | ||||
Terms | Annual amortization rate equivalent to 1% of the amount drawn starting on the first year anniversary of the advance up to the ninth year anniversary of the advance and the balance payable upon maturity on May 10, 2028 | ||||
Unsecured Term Loans [Member] | Term Loans | Smart [Member] | Loan agreement date January 11, 2019 [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 5,000 | ||||
Date of Loan Agreement | January 11, 2019 | ||||
Lender(s) | DBP | ||||
Dates Drawn | — | ||||
Paid in full on | — | ||||
Terms | Annual amortization rate equivalent to 1% of the amount drawn starting on the third year anniversary of the advance up to the ninth year anniversary of the advance and the balance payable upon maturity | ||||
Unsecured Term Loans [Member] | Term Loans | Smart [Member] | Loan agreement date February 21, 2019 [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 4,000 | ||||
Date of Loan Agreement | February 21, 2019 | ||||
Lender(s) | PNB | ||||
Dates Drawn | — | ||||
Paid in full on | — | ||||
Terms | Annual amortization rate equivalent to 1% of the amount drawn starting on the first year anniversary up to the seventh year anniversary of the initial drawdown date and the balance payable upon maturity | ||||
Unsecured Term Loans [Member] | Term Loans | P L D T | Loan agreement date February 18, 2019 [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 8,000 | ||||
Date of Loan Agreement | February 18, 2019 | ||||
Lender(s) | UBP | ||||
Dates Drawn | — | ||||
Paid in full on | — | ||||
Terms | Annual amortization rate equivalent to 1% of the amount drawn starting on the first year anniversary up to the ninth year anniversary of the initial drawdown date and the balance payable upon maturity | ||||
Unsecured Term Loans [Member] | Term Loans | P L D T | Loan agreement date May 9,2018 [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 2,000 | ||||
Date of Loan Agreement | May 9, 2018 | ||||
Lender(s) | BPI | ||||
Dates Drawn | May 10, 2018 | ||||
Drawn Amount | ₱ 2,000 | ||||
Paid in full on | — | ||||
Outstanding Amounts | ₱ 2,000 | ||||
Terms | Annual amortization rate equivalent to 1% of the amount drawn starting on the first year anniversary of the advance up to the ninth year anniversary of the advance and the balance payable upon maturity on May 10, 2028 | ||||
Tranche B [Member] | Others Two | U.S. Dollar Debts [Member] | Term Loans | February twenty six two thousand fifteen loan agreement [member] | Costs [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | $ | 50 | ||||
Tranche A [Member] | Others Two | U.S. Dollar Debts [Member] | Term Loans | February twenty six two thousand fifteen loan agreement [member] | Costs [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | $ | 150 | ||||
Series A 1 [member] | Corporate Notes [Member] | Philippine Peso Debts [Member] | Loan Agreement Date March Fifteen Two Thousand Twelve [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 1,910 | ||||
Prepayments Amount | ₱ 2,803 | ||||
Prepayments Date | June 19, 2017 | ||||
Series A 1 [member] | Corporate Notes [Member] | Philippine Peso Debts [Member] | Loan Agreement Date September Nineteen Two Thousand Twelve [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 4,610 | ||||
Series A 1 [member] | Corporate Notes [Member] | Philippine Peso Debts [Member] | Loan Agreement Date November Twenty Two Thousand Twelve [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | 3,775 | ||||
Series A 1 [member] | Corporate Notes [Member] | Philippine Peso Debts [Member] | Loan Agreement Date June Fourteen Two Thousand Thirteen [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | 1,735 | ||||
Series A 1 [member] | Corporate Notes [Member] | Philippine Peso Debts [Member] | Smart [Member] | Loan Agreement Date June Fourteen Two Thousand Thirteen [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | 742 | ||||
Series B 1 [Member] | Corporate Notes [Member] | Philippine Peso Debts [Member] | Loan Agreement Date March Fifteen Two Thousand Twelve [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 3,590 | ||||
Installments | Series B: 1% annual amortization starting March 19, 2013 with the balance of 91% payable on March 19, 2022 | ||||
Series B 1 [Member] | Corporate Notes [Member] | Philippine Peso Debts [Member] | Loan Agreement Date September Nineteen Two Thousand Twelve [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 4,190 | ||||
Installments | Series B: 1% annual amortization on the first up to ninth year, with the balance payable on September 21, 2022 | ||||
Series B 1 [Member] | Corporate Notes [Member] | Philippine Peso Debts [Member] | Loan Agreement Date November Twenty Two Thousand Twelve [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 2,425 | ||||
Installments | Series B: Annual amortization rate of 1% of the issue price on the first year up to the ninth year from issue date and the balance payable upon maturity on November 22, 2022 | ||||
Series B 1 [Member] | Corporate Notes [Member] | Philippine Peso Debts [Member] | Loan Agreement Date June Fourteen Two Thousand Thirteen [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 320 | ||||
Installments | Series B: Annual amortization rate of 1% of the issue price up to the eighth year and the balance payable upon maturity on September 21, 2022 | ||||
Series B 1 [Member] | Corporate Notes [Member] | Philippine Peso Debts [Member] | Smart [Member] | Loan Agreement Date June Fourteen Two Thousand Thirteen [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 634 | ||||
Installments | Series B: Annual amortization equivalent to 1% of the principal amount starting June 19, 2014 with the balance of 92% payable on March 21, 2022 | ||||
Export Credit Agencies-Supported Loans [Member] | U.S. Dollar Debts [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Outstanding Amounts | ₱ 103 | 2 | 547 | 11 | |
Export Credit Agencies-Supported Loans [Member] | Export Kreditnamnden [member] | U.S. Dollar Debts [Member] | Loan amount to finance the equipment and service contracts for phase seven north luzon expansion and change out project [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | $ | 59.2 | ||||
Date of Loan Agreement | December 17, 2007 | ||||
Lender(s) | ING Bank N.V., or ING Bank, Societe Generale and Calyon | ||||
Installments Terms | 18 equal semi-annual | ||||
Final Installment Terms | March 31, 2017 | ||||
Dates Drawn | Various dates in 2008-2009 | ||||
Drawn Amount | $ | 59.1 | ||||
Cancelled Undrawn Amount | $ | 0.1 | ||||
Paid in full on | March 31, 2017 | ||||
Export Credit Agencies-Supported Loans [Member] | Export Kreditnamnden [member] | U.S. Dollar Debts [Member] | Loan amount to finance the equipment and service contracts for phase seven expansion project in vsayas and minddanao [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | $ | 51.2 | ||||
Date of Loan Agreement | December 17, 2007 | ||||
Lender(s) | ING Bank, Societe Generale and Calyon | ||||
Installments Terms | 18 equal semi-annual | ||||
Final Installment Terms | June 30, 2017 | ||||
Dates Drawn | Various dates in 2008-2009 | ||||
Drawn Amount | $ | 51.1 | ||||
Cancelled Undrawn Amount | $ | 0.1 | ||||
Paid in full on | March 31, 2017 | ||||
Export Credit Agencies-Supported Loans [Member] | Export Kreditnamnden [member] | U.S. Dollar Debts [Member] | Loan amount to finance the supply and services contracts for modernization and expansion project [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | $ | 49 | ||||
Date of Loan Agreement | June 10, 2011 | ||||
Lender(s) | Nordea Bank AB (publ), or Nordea Bank, subsequently assigned to SEK on June 10, 2011 | ||||
Installments Terms | 10 equal semi-annual | ||||
Dates Drawn | Various dates in 2012 and February 21, 2013 | ||||
Drawn Amount | $ | 49 | ||||
Paid in full on | April 28, 2017 | ||||
Export Credit Agencies-Supported Loans [Member] | Export Kreditnamnden [member] | U.S. Dollar Debts [Member] | Loan amount to finance the supply and services contracts for modernization and expansion project [Member] | Smart [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | $ | 45.6 | ||||
Date of Loan Agreement | February 22, 2013 | ||||
Lender(s) | Nordea Bank, subsequently assigned to SEK on July 3, 2013 | ||||
Installments Terms | 10 equal semi-annual, commencing 6 months after the applicable mean delivery date | ||||
Final Installment Terms | Tranche A1 and B1: July 16, 2018; Tranche A2 and B2: April 15, 2019 | ||||
Dates Drawn | Various dates in 2013-2014 | ||||
Drawn Amount | $ | 45.6 | ||||
Paid in full on | — | ||||
Outstanding Amounts | ₱ 103 | 2 | 547 | 11 | |
Export Credit Agencies-Supported Loans [Member] | Tranche A1 [Member] | Export Kreditnamnden [member] | U.S. Dollar Debts [Member] | Loan amount to finance the supply and services contracts for modernization and expansion project [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | $ | 24 | ||||
Final Installment Terms | December 29, 2016 | ||||
Export Credit Agencies-Supported Loans [Member] | Tranche A1 [Member] | Export Kreditnamnden [member] | U.S. Dollar Debts [Member] | Loan amount to finance the supply and services contracts for modernization and expansion project [Member] | Smart [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | $ | 25 | ||||
Final Installment Terms | July 16,2018 | ||||
Export Credit Agencies-Supported Loans [Member] | Tranche A2 [Member] | Export Kreditnamnden [member] | U.S. Dollar Debts [Member] | Loan amount to finance the supply and services contracts for modernization and expansion project [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | $ | 24 | ||||
Final Installment Terms | October 30, 2017 | ||||
Export Credit Agencies-Supported Loans [Member] | Tranche A2 [Member] | Export Kreditnamnden [member] | U.S. Dollar Debts [Member] | Loan amount to finance the supply and services contracts for modernization and expansion project [Member] | Smart [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | $ | 19 | ||||
Final Installment Terms | April 15, 2019 | ||||
Export Credit Agencies-Supported Loans [Member] | Tranche B [Member] | Export Kreditnamnden [member] | U.S. Dollar Debts [Member] | Loan amount to finance the supply and services contracts for modernization and expansion project [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | $ | 1 | ||||
Export Credit Agencies-Supported Loans [Member] | Tranche B1 [Member] | Export Kreditnamnden [member] | U.S. Dollar Debts [Member] | Loan amount to finance the supply and services contracts for modernization and expansion project [Member] | Smart [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | $ | 0.9 | ||||
Final Installment Terms | July 16, 2018 | ||||
Export Credit Agencies-Supported Loans [Member] | Tranche B Two | Export Kreditnamnden [member] | U.S. Dollar Debts [Member] | Loan amount to finance the supply and services contracts for modernization and expansion project [Member] | Smart [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | $ | 0.7 | ||||
Final Installment Terms | April 15, 2019 | ||||
Term Loans | P L D T | Loan agreement date July 14,2016 [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 8,000 | ||||
Date of Loan Agreement | July 14, 2016 | ||||
Lender(s) | Security Bank | ||||
Dates Drawn | February 27, 2017 | ||||
Drawn Amount | ₱ 8,000 | ||||
Paid in full on | — | ||||
Outstanding Amounts | ₱ 7,807 | 7,963 | |||
Terms | Semi-annual amortization rate of 1% of the total amount drawn starting from the end of the first year after the initial drawdown date until the ninth year and the balance payable on maturity on March 1, 2027 | ||||
Term Loans | GSM Network Expansion Facilities [Member] | U.S. Dollar Debts [Member] | Loan amount to finance the equipment and service contracts for modernization and expansion project with agreement date May 29, 2012 [member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | $ | 50 | ||||
Date of Loan Agreement | May 29, 2012 | ||||
Lender(s) | MUFG Bank, Ltd., formerly The Bank of Tokyo Mitsubishi UFJ, Ltd. | ||||
Installments Terms | 9 equal semi-annual, commencing on May 29, 2013 | ||||
Final Installment Terms | May 29, 2017 | ||||
Dates Drawn | Various dates in 2012 | ||||
Drawn Amount | $ | 50 | ||||
Paid in full on | May 29, 2017 | ||||
Term Loans | Others One | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Outstanding Amounts | ₱ 583 | 11 | 4,648 | 92 | |
Term Loans | Others One | Borrowing Drawn Date One [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Dates Drawn | March 2, 2015 | ||||
Drawn Amount | $ | 10 | ||||
Term Loans | Others One | Loan amount to finance the supply of GSM mobile telephone equipment and related services with agreement date March 7, 2012 [Member] | March Seven Two Thousand Twelve [member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | $ | 150 | ||||
Date of Loan Agreement | March 7, 2012 | ||||
Lender(s) | Syndicate of Banks with MUFG Bank, Ltd. as Facility Agent | ||||
Installments Terms | 9 equal semi-annual installment, commencing on the date which falls 12 months after the date of the loan agreement, with final installment on March 7, 2017 | ||||
Dates Drawn | Various dates in 2012 | ||||
Drawn Amount | $ | 150 | ||||
Paid in full on | March 7, 2017 | ||||
Term Loans | Others One | Loan amount to finance the supply of GSM mobile telephone equipment and related services with agreement date January 16, 2013 [Member] | January Sixteen Two Thousand Thirteen [member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | $ | 300 | ||||
Date of Loan Agreement | January 16, 2013 | ||||
Lender(s) | Syndicate of Banks with MUFG Bank, Ltd. as Facility Agent | ||||
Installments Terms | 9 equal semi-annual installment, commencing on the date which falls 12months after the date of the loan agreement, with final installment on January 16, 2018 | ||||
Dates Drawn | Various dates in 2013 | ||||
Drawn Amount | $ | 300 | ||||
Paid in full on | January 16, 2018 | ||||
Outstanding Amounts | 1,665 | 33 | |||
Term Loans | Others One | Loan amount to finance the supply of GSM mobile telephone equipment and related services with agreement date January 28, 2013 [Member] | January Twenty Eight Two Thousand Thirteen [member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | $ | 35 | ||||
Date of Loan Agreement | January 28, 2013 | ||||
Lender(s) | China Banking Corporation, or CBC | ||||
Installments Terms | 10 equal semi-annual installment, with final installment on January 29, 2018 | ||||
Dates Drawn | May 7, 2013 | ||||
Drawn Amount | $ | 35 | ||||
Paid in full on | January 30, 2017 | ||||
Term Loans | Others One | Loan Amount To Finance The Supply Of Gsm Mobile Telephone Equipment And Related Services With Agreement Date March Twenty Five Two Thousand Thirteen [member] | March twenty five two thousand thirteen loan agreement [member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | $ | 50 | ||||
Date of Loan Agreement | March 25, 2013 | ||||
Lender(s) | FEC | ||||
Installments Terms | 9 equal semi-annual installment, commencing six months after drawdown date, with final installment on March 23, 2018 | ||||
Dates Drawn | Various dates in 2013 and 2014 | ||||
Drawn Amount | $ | 32 | ||||
Cancelled Undrawn Amount | $ | 18 | ||||
Paid in full on | March 23, 2018 | ||||
Outstanding Amounts | 178 | 3 | |||
Term Loans | Others One | Loan Amount To Finance The Supply Of Gsm Mobile Telephone Equipment And Related Services With Agreement Date May Thirty First Two Thousand Thirteen [member] | May thirty first two thousand thirteen loan agreement [member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | $ | 80 | ||||
Date of Loan Agreement | May 31, 2013 | ||||
Lender(s) | CBC | ||||
Installments Terms | 10 equal semi-annual installment, commencing six months after drawdown date, with final installment on May 31, 2018 | ||||
Dates Drawn | September 25, 2013 | ||||
Drawn Amount | $ | 80 | ||||
Paid in full on | May 31, 2018 | ||||
Outstanding Amounts | 400 | 8 | |||
Term Loans | Others One | Loan Amount To Finance The Supply Of GSM Mobile Telephone Equipment And Related Services With Agreement Date June Twenty Two Thousand Thirteen [member] | June twenty two thousand thirteen loan agreement [member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | $ | 120 | ||||
Date of Loan Agreement | June 20, 2013 | ||||
Lender(s) | Mizuho Bank Ltd. and Sumitomo Mitsui Banking Corporation, or Sumitomo, with Sumitomo as Facility Agent | ||||
Installments Terms | 8 equal semi-annual installment, commencing six months after drawdown date, with final installment on June 20, 2018 | ||||
Dates Drawn | September 25, 2013 | ||||
Drawn Amount | $ | 120 | ||||
Paid in full on | June 20, 2018 | ||||
Outstanding Amounts | 747 | 15 | |||
Term Loans | Others One | Loan Amount To Finance The Supply Of GSM Mobile Telephone Equipment And Related Services With Loan Agreement March Seven Two Thousand Fourteen [member] | March 7, 2014 Loan Agreement One [member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | $ | 100 | ||||
Date of Loan Agreement | March 7, 2014 | ||||
Lender(s) | MUFG Bank, Ltd. | ||||
Installments Terms | 9 equal semi-annual installment, commencing 12 months after drawdown date, with final installment on March 7, 2019 | ||||
Dates Drawn | Various dates in 2014 | ||||
Drawn Amount | $ | 90 | ||||
Paid in full on | — | ||||
Outstanding Amounts | ₱ 583 | $ 11 | 1,658 | $ 33 | |
Term Loans | Others Two | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Outstanding Amounts | 59,650 | 60,920 | |||
Term Loans | Unsecured Term Loans [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Outstanding Amounts | 20,828 | 11,945 | |||
Term Loans | Unsecured Term Loans [Member] | May Twenty Nine Two Thousand Twelve Agreement | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 2,000 | ||||
Date of Loan Agreement | May 29, 2012 | ||||
Dates Drawn | June 27, 2012 | ||||
Drawn Amount | ₱ 2,000 | ||||
Facility Agent | LBP | ||||
Installments | Annual amortization rate of 1% on the first year up to the fourth year from drawdown date and the balance payable upon maturity on June 27, 2017 | ||||
Prepayments Date | June 27, 2017 | ||||
Term Loans | Unsecured Term Loans [Member] | Smart [Member] | Loan agreement date March 20,2012 [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 500 | ||||
Date of Loan Agreement | February 3, 2014 | ||||
Lender(s) | LBP | ||||
Dates Drawn | February 7, 2014 | ||||
Drawn Amount | ₱ 500 | ||||
Paid in full on | — | ||||
Outstanding Amounts | ₱ 480 | 485 | |||
Terms | Annual amortization rate of 1% of the principal amount on the first year up to the sixth year commencing on the first year anniversary of the initial drawdown and the balance payable upon maturity on February 5, 2021 | ||||
Term Loans | Unsecured Term Loans [Member] | Smart [Member] | Loan agreement date June 7,2012 [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 1,000 | ||||
Date of Loan Agreement | June 7, 2012 | ||||
Dates Drawn | August 22, 2012 | ||||
Drawn Amount | ₱ 1,000 | ||||
Facility Agent | LBP | ||||
Installments | Annual amortization rate of 1% of the principal amount commencing on the first year of the initial drawdown up to the fourth year and the balance payable upon maturity on August 22, 2017 | ||||
Prepayments Date | February 22, 2017 | ||||
Term Loans | Unsecured Term Loans [Member] | Smart [Member] | Loan agreement date December 17,2012 [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 3,000 | ||||
Date of Loan Agreement | December 17, 2012 | ||||
Dates Drawn | Various dates in 2012-2013 | ||||
Drawn Amount | ₱ 3,000 | ||||
Outstanding Amounts | ₱ 2,820 | 2,850 | |||
Facility Agent | LBP | ||||
Installments | Annual amortization rate of 1% of the principal amount on the first year up to the sixth year commencing on the first year anniversary of the initial drawdown and the balance payable upon maturity on December 20, 2019 | ||||
Prepayments Date | — | ||||
Term Loans | Unsecured Term Loans [Member] | Smart [Member] | Loan agreement date March 26,2014 [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 2,000 | ||||
Date of Loan Agreement | March 26, 2014 | ||||
Lender(s) | Union Bank | ||||
Dates Drawn | March 28, 2014 | ||||
Drawn Amount | ₱ 2,000 | ||||
Paid in full on | — | ||||
Outstanding Amounts | ₱ 1,920 | 1,940 | |||
Terms | Annual amortization rate of 1% of the principal amount on the first year up to the sixth year commencing on the first year anniversary of the initial drawdown and the balance payable upon maturity on March 29, 2021 | ||||
Term Loans | Unsecured Term Loans [Member] | Smart [Member] | Loan agreement date April 2,2014 [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 500 | ||||
Date of Loan Agreement | April 2, 2014 | ||||
Lender(s) | BDO | ||||
Dates Drawn | April 4, 2014 | ||||
Drawn Amount | ₱ 500 | ||||
Paid in full on | — | ||||
Outstanding Amounts | ₱ 480 | 485 | |||
Terms | Annual amortization rate of 1% of the principal amount on the first year up to the sixth year commencing on the first year anniversary of the initial drawdown and the balance payable upon maturity on April 2, 2021 | ||||
Term Loans | Unsecured Term Loans [Member] | Smart [Member] | Loan agreement date August 11,2015 [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 5,000 | ||||
Date of Loan Agreement | August 11, 2015 | ||||
Lender(s) | Metrobank | ||||
Dates Drawn | September 1, 2015 | ||||
Drawn Amount | ₱ 5,000 | ||||
Paid in full on | — | ||||
Outstanding Amounts | ₱ 4,833 | 4,880 | |||
Terms | Annual amortization rate of 1% of the principal amount on the first year up to the ninth year commencing on the first year anniversary of the initial drawdown date and the balance payable upon maturity on September 1, 2025 | ||||
Term Loans | Unsecured Term Loans [Member] | Smart [Member] | Loan agreement date December 11,2015 [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 5,000 | ||||
Date of Loan Agreement | December 11, 2015 | ||||
Lender(s) | BPI | ||||
Dates Drawn | December 21, 2015 | ||||
Drawn Amount | ₱ 5,000 | ||||
Paid in full on | — | ||||
Outstanding Amounts | ₱ 4,832 | 4,880 | |||
Terms | Annual amortization rate of 1% of the principal amount on the first year up to the ninth year commencing on the first year anniversary of the initial drawdown date and the balance payable upon maturity on December 21, 2025 | ||||
Term Loans | Unsecured Term Loans [Member] | Smart [Member] | Loan agreement date December 16,2015 [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 5,000 | ||||
Date of Loan Agreement | December 16, 2015 | ||||
Lender(s) | Metrobank | ||||
Dates Drawn | December 28, 2015 | ||||
Drawn Amount | ₱ 5,000 | ||||
Paid in full on | — | ||||
Outstanding Amounts | ₱ 4,831 | 4,879 | |||
Terms | Annual amortization rate of 1% of the principal amount up to the tenth year commencing on the first year anniversary of the initial drawdown and the balance payable upon maturity on June 29, 2026 | ||||
Term Loans | Unsecured Term Loans [Member] | Smart [Member] | Loan agreement date December 18,2015 [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 7,000 | ||||
Date of Loan Agreement | December 18, 2015 | ||||
Lender(s) | CBC | ||||
Dates Drawn | December 28, 2015 and February 24, 2016 | ||||
Drawn Amount | ₱ 7,000 | ||||
Paid in full on | — | ||||
Outstanding Amounts | ₱ 6,289 | 6,983 | |||
Terms | Annual amortization rate of 1% of the principal amount on the third year up to the sixth year from the initial drawdown date, with balance payable upon maturity on December 28, 2022 | ||||
Term Loans | Unsecured Term Loans [Member] | Smart [Member] | Loan agreement date July 1,2016 [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 3,000 | ||||
Date of Loan Agreement | July 1, 2016 | ||||
Lender(s) | Metrobank | ||||
Dates Drawn | February 20, 2017 | ||||
Drawn Amount | ₱ 3,000 | ||||
Paid in full on | — | ||||
Outstanding Amounts | ₱ 2,957 | 2,986 | |||
Terms | Annual amortization rate of 1% on the first year up to the ninth year from initial drawdown date and the balance payable upon maturity on February 22, 2027 | ||||
Term Loans | Unsecured Term Loans [Member] | Smart [Member] | Loan agreement date September 28,2016 [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 3,000 | ||||
Date of Loan Agreement | September 28, 2016 | ||||
Lender(s) | BDO | ||||
Dates Drawn | October 5, 2016 | ||||
Drawn Amount | ₱ 3,000 | ||||
Paid in full on | — | ||||
Outstanding Amounts | ₱ 2,940 | 2,970 | |||
Terms | Annual amortization rate of 1% of the principal amount on the first year up to the ninth year commencing on the first year anniversary of the initial drawdown date and the balance payable upon maturity on October 5, 2026 | ||||
Term Loans | Unsecured Term Loans [Member] | Smart [Member] | Loan agreement date September 28,2016 [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 5,400 | ||||
Date of Loan Agreement | September 28, 2016 | ||||
Lender(s) | Union Bank | ||||
Dates Drawn | October 24, 2016 and November 21, 2016 | ||||
Drawn Amount | ₱ 5,400 | ||||
Paid in full on | — | ||||
Outstanding Amounts | ₱ 5,281 | 5,333 | |||
Terms | Annual amortization rate of 1% of the principal amount on the first year up to the sixth year commencing on the first year anniversary of the initial drawdown date and the balance payable upon maturity on October 24, 2023 | ||||
Term Loans | Unsecured Term Loans [Member] | Smart [Member] | Loan agreement date October 27,2016 [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 2,500 | ||||
Date of Loan Agreement | October 27, 2016 | ||||
Lender(s) | CBC | ||||
Dates Drawn | December 8, 2016 | ||||
Drawn Amount | ₱ 2,500 | ||||
Paid in full on | — | ||||
Outstanding Amounts | ₱ 2,500 | 2,500 | |||
Terms | Annual amortization rate of 10% of the amount drawn starting on the third year up to the sixth year, with balance payable upon maturity on December 8, 2023 | ||||
Term Loans | Unsecured Term Loans [Member] | Smart [Member] | Loan agreement date October 28,2016 [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 4,000 | ||||
Date of Loan Agreement | October 28, 2016 | ||||
Lender(s) | Security Bank | ||||
Dates Drawn | April 5, 2017 | ||||
Drawn Amount | ₱ 4,000 | ||||
Paid in full on | — | ||||
Outstanding Amounts | ₱ 1,953 | 1,971 | |||
Terms | Semi-annual amortization rate of 1% of the total amount drawn from first year up to the ninth year and the balance payable upon maturity on April 5, 2027 | ||||
Term Loans | Unsecured Term Loans [Member] | Smart [Member] | Loan agreement date December 16,2016 [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 1,000 | ||||
Date of Loan Agreement | December 16, 2016 | ||||
Lender(s) | PNB | ||||
Dates Drawn | December 7, 2017 | ||||
Drawn Amount | ₱ 1,000 | ||||
Paid in full on | — | ||||
Outstanding Amounts | ₱ 990 | 1,000 | |||
Terms | Annual amortization rate of 1% of the amount drawn starting on the first anniversary of the advance up to the ninth anniversary of the advance and the balance payable upon maturity on December 7, 2027 | ||||
Term Loans | Unsecured Term Loans [Member] | Smart [Member] | Loan agreement date December 22,2016 [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 2,000 | ||||
Date of Loan Agreement | December 22, 2016 | ||||
Lender(s) | LBP | ||||
Dates Drawn | January 22, 2018 | ||||
Drawn Amount | ₱ 2,000 | ||||
Paid in full on | — | ||||
Outstanding Amounts | ₱ 2,000 | ||||
Terms | Annual amortization rate of 1% of the amount drawn starting on the first anniversary of the advance up to the ninth anniversary of the advance and the balance payable upon maturity on January 21, 2028 | ||||
Term Loans | Unsecured Term Loans [Member] | Smart [Member] | Loan agreement date April 18,2017 [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 1,500 | ||||
Date of Loan Agreement | April 18, 2017 | ||||
Lender(s) | PNB | ||||
Dates Drawn | January 3, 2018 | ||||
Drawn Amount | ₱ 1,500 | ||||
Paid in full on | — | ||||
Outstanding Amounts | ₱ 1,500 | ||||
Terms | Annual amortization rate of 1% of the amount drawn starting on the first anniversary of the advance up to the sixth year anniversary of the advance and the balance payable upon maturity on January 3, 2025 | ||||
Term Loans | Unsecured Term Loans [Member] | Smart [Member] | September Twenty Eight Two Thousand Seventeen | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 1,000 | ||||
Date of Loan Agreement | September 28, 2017 | ||||
Lender(s) | Union Bank | ||||
Dates Drawn | February 19, 2018 | ||||
Drawn Amount | ₱ 1,000 | ||||
Paid in full on | — | ||||
Outstanding Amounts | ₱ 1,000 | ||||
Terms | Annual amortization rate of 1% of the amount drawn starting on the first year anniversary of the advance up to the ninth year anniversary of the advance and the balance payable upon maturity on February 21, 2028 | ||||
Term Loans | Unsecured Term Loans [Member] | P L D T | Loan agreement date November 13,2013 [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 2,000 | ||||
Date of Loan Agreement | November 13, 2013 | ||||
Dates Drawn | Various dates in 2013-2014 | ||||
Drawn Amount | ₱ 2,000 | ||||
Outstanding Amounts | ₱ 1,900 | 1,920 | |||
Facility Agent | Bank of the Philippine Islands, or BPI | ||||
Installments | Annual amortization rate of 1% on the first year up to the sixth year from the initial drawdown and the balance payable upon maturity on November 22, 2020 | ||||
Prepayments Date | — | ||||
Term Loans | Unsecured Term Loans [Member] | P L D T | Loan agreement date March 20,2012 [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 2,000 | ||||
Date of Loan Agreement | March 20, 2012 | ||||
Dates Drawn | April 12, 2012 | ||||
Drawn Amount | ₱ 2,000 | ||||
Outstanding Amounts | ₱ 1,960 | 1,980 | |||
Facility Agent | RCBC | ||||
Installments | Annual amortization rate of 1% on the fifth year up to the ninth year from the initial drawdown date and the balance payable upon maturity on April 12, 2022 | ||||
Prepayments Date | — | ||||
Term Loans | Unsecured Term Loans [Member] | P L D T | Loan agreement date April 27,2012 [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 3,000 | ||||
Date of Loan Agreement | April 27, 2012 | ||||
Dates Drawn | July 18, 2012 | ||||
Drawn Amount | ₱ 3,000 | ||||
Facility Agent | Land Bank of the Philippines, or LBP | ||||
Installments | Annual amortization rate of 1% on the first year up to the fourth year from drawdown date and the balance payable upon maturity on July 18, 2017 | ||||
Prepayments Date | January 18, 2017 | ||||
Term Loans | Unsecured Term Loans [Member] | P L D T | Loan agreement date August 31,2012 [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 200 | ||||
Date of Loan Agreement | August 31, 2012 | ||||
Dates Drawn | October 9, 2012 | ||||
Drawn Amount | ₱ 200 | ||||
Outstanding Amounts | ₱ 200 | 200 | |||
Facility Agent | Manufacturers Life Insurance Co. (Phils.), Inc. | ||||
Installments | Payable in full upon maturity on October 9, 2019 | ||||
Prepayments Date | — | ||||
Term Loans | Unsecured Term Loans [Member] | P L D T | Loan agreement date September 3,2012 [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 1,000 | ||||
Date of Loan Agreement | September 3, 2012 | ||||
Dates Drawn | January 11, 2013 | ||||
Drawn Amount | ₱ 1,000 | ||||
Outstanding Amounts | ₱ 950 | 960 | |||
Facility Agent | Union Bank of the Philippines, or Union Bank | ||||
Installments | Annual amortization rate of 1% on the first year up to the sixth year from the initial drawdown date and the balance payable upon maturity on January 13, 2020 | ||||
Prepayments Date | — | ||||
Term Loans | Unsecured Term Loans [Member] | P L D T | Loan agreement date October 11,2012 [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 1,000 | ||||
Date of Loan Agreement | October 11, 2012 | ||||
Dates Drawn | December 3, 2012 | ||||
Drawn Amount | ₱ 1,000 | ||||
Outstanding Amounts | ₱ 1,000 | 1,000 | |||
Facility Agent | Philippine American Life and General Insurance Company, or Philam Life | ||||
Installments | Payable in full upon maturity on December 5, 2022 | ||||
Prepayments Date | — | ||||
Term Loans | Unsecured Term Loans [Member] | P L D T | Loan agreement date April 2,2014 [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 1,500 | ||||
Date of Loan Agreement | April 2, 2014 | ||||
Lender(s) | Philam Life | ||||
Dates Drawn | April 4, 2014 | ||||
Drawn Amount | ₱ 1,500 | ||||
Paid in full on | — | ||||
Outstanding Amounts | ₱ 1,500 | 1,500 | |||
Terms | Payable in full upon maturity on April 4, 2024 | ||||
Term Loans | Unsecured Term Loans [Member] | P L D T | Loan agreement date May 23,2014 [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 1,000 | ||||
Date of Loan Agreement | May 23, 2014 | ||||
Lender(s) | Philam Life | ||||
Dates Drawn | May 28, 2014 | ||||
Drawn Amount | ₱ 1,000 | ||||
Paid in full on | — | ||||
Outstanding Amounts | ₱ 1,000 | 1,000 | |||
Terms | Payable in full upon maturity on May 28, 2024 | ||||
Term Loans | Unsecured Term Loans [Member] | P L D T | Loan agreement date June 9,2014 [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 1,000 | ||||
Date of Loan Agreement | June 9, 2014 | ||||
Lender(s) | LBP | ||||
Dates Drawn | June 13, 2014 | ||||
Drawn Amount | ₱ 1,000 | ||||
Paid in full on | — | ||||
Outstanding Amounts | ₱ 960 | 970 | |||
Terms | Annual amortization rate of 1% on the first year up to the ninth year from initial drawdown date and the balance payable upon maturity on June 13, 2024 | ||||
Term Loans | Unsecured Term Loans [Member] | P L D T | Loan agreement date July 28,2014 [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 1,500 | ||||
Date of Loan Agreement | July 28, 2014 | ||||
Lender(s) | Union Bank | ||||
Dates Drawn | July 31, 2014 | ||||
Drawn Amount | ₱ 1,500 | ||||
Paid in full on | — | ||||
Outstanding Amounts | ₱ 1,440 | 1,455 | |||
Terms | Annual amortization rate of 1% on the first year up to the ninth year from initial drawdown date and the balance payable upon maturity on July 31, 2024 | ||||
Term Loans | Unsecured Term Loans [Member] | P L D T | Loan agreement date February 25,2015 [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 2,000 | ||||
Date of Loan Agreement | February 25, 2015 | ||||
Lender(s) | BPI | ||||
Dates Drawn | March 24, 2015 | ||||
Drawn Amount | ₱ 2,000 | ||||
Paid in full on | — | ||||
Outstanding Amounts | ₱ 1,940 | 1,960 | |||
Terms | Annual amortization rate of 1% on the first year up to the ninth year from initial drawdown date and the balance payable upon maturity on March 24, 2025 | ||||
Term Loans | Unsecured Term Loans [Member] | P L D T | Loan agreement date June 26,2015 [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 3,000 | ||||
Date of Loan Agreement | June 26, 2015 | ||||
Lender(s) | BPI | ||||
Dates Drawn | June 30, 2015 | ||||
Drawn Amount | ₱ 3,000 | ||||
Paid in full on | — | ||||
Outstanding Amounts | ₱ 2,910 | 2,940 | |||
Terms | Annual amortization rate of 1% on the first year up to the ninth year from initial drawdown date and the balance payable upon maturity on June 30, 2025 | ||||
Term Loans | Unsecured Term Loans [Member] | P L D T | Loan agreement date August 3,2015 [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 5,000 | ||||
Date of Loan Agreement | August 3, 2015 | ||||
Lender(s) | Metrobank | ||||
Dates Drawn | Various dates in 2015 | ||||
Drawn Amount | ₱ 5,000 | ||||
Paid in full on | — | ||||
Outstanding Amounts | ₱ 4,850 | 4,900 | |||
Terms | Annual amortization rate of 1% on the first year up to the ninth year from initial drawdown date and the balance payable upon maturity on September 23, 2025 | ||||
Term Loans | Unsecured Term Loans [Member] | P L D T | Loan agreement date July 1,2016 [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 6,000 | ||||
Date of Loan Agreement | July 1, 2016 | ||||
Lender(s) | Metrobank | ||||
Dates Drawn | August 30, 2016 and November 10, 2016 | ||||
Drawn Amount | ₱ 6,000 | ||||
Paid in full on | — | ||||
Outstanding Amounts | ₱ 5,859 | 5,915 | |||
Terms | Annual amortization rate of 1% on the first year up to the sixth year from initial drawdown date and the balance payable upon maturity on August 30, 2023 | ||||
Term Loans | Unsecured Term Loans [Member] | P L D T | Loan agreement date September 20,2016 [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 6,500 | ||||
Date of Loan Agreement | September 20, 2016 | ||||
Lender(s) | BPI | ||||
Dates Drawn | November 2, 2016 and December 19, 2016 | ||||
Drawn Amount | ₱ 6,500 | ||||
Paid in full on | — | ||||
Outstanding Amounts | ₱ 6,346 | 6,407 | |||
Terms | Annual amortization rate of 1% on the first year up to the sixth year from initial drawdown date and the balance payable upon maturity on November 2, 2023 | ||||
Term Loans | Unsecured Term Loans [Member] | P L D T | Loan agreement date October 14,2016 [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 5,300 | ||||
Date of Loan Agreement | October 14, 2016 | ||||
Lender(s) | BPI | ||||
Dates Drawn | December 19, 2016 | ||||
Drawn Amount | ₱ 5,300 | ||||
Paid in full on | — | ||||
Outstanding Amounts | ₱ 5,175 | 5,224 | |||
Terms | Annual amortization rate of 1% on the first year up to the sixth year from initial drawdown date and the balance payable upon maturity on December 19, 2023 | ||||
Term Loans | Unsecured Term Loans [Member] | P L D T | Loan agreement date April 20,2018 [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 1,000 | ||||
Date of Loan Agreement | April 20, 2018 | ||||
Lender(s) | LBP | ||||
Dates Drawn | May 3, 2018 | ||||
Drawn Amount | ₱ 1,000 | ||||
Paid in full on | — | ||||
Outstanding Amounts | ₱ 1,000 | ||||
Terms | Annual amortization rate equivalent to 1% of the total loan payable on the first year up to the ninth year after the drawdown date and the balance payable upon maturity on May 3, 2028 | ||||
Term Loans | Unsecured Term Loans [Member] | P L D T | Loan agreement date May 24,2017 [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 2,000 | ||||
Date of Loan Agreement | May 24, 2017 | ||||
Lender(s) | Security Bank | ||||
Dates Drawn | May 29, 2017 | ||||
Drawn Amount | ₱ 2,000 | ||||
Paid in full on | — | ||||
Outstanding Amounts | ₱ 1,970 | 1,990 | |||
Terms | Semi-annual amortization rate of Php10 million starting on October 5, 2017 and every six months thereafter with the balance payable upon maturity on April 5, 2027 | ||||
Term Loans | Unsecured Term Loans [Member] | P L D T | July Five Two Thousand Seventeen | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 3,500 | ||||
Date of Loan Agreement | July 5, 2017 | ||||
Lender(s) | LBP | ||||
Dates Drawn | July 10, 2017 | ||||
Drawn Amount | ₱ 3,500 | ||||
Paid in full on | — | ||||
Outstanding Amounts | ₱ 3,465 | 3,500 | |||
Terms | Annual amortization rate of 1% on the first year up to the ninth year after the drawdown date and the balance payable upon maturity on July 12, 2027 | ||||
Term Loans | Unsecured Term Loans [Member] | P L D T | August Twenty Nine Two Thousand Seventeen | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 1,500 | ||||
Date of Loan Agreement | August 29, 2017 | ||||
Lender(s) | LBP | ||||
Dates Drawn | April 2, 2018 | ||||
Drawn Amount | ₱ 1,500 | ||||
Paid in full on | — | ||||
Outstanding Amounts | ₱ 1,500 | ||||
Terms | Annual amortization rate equivalent to 1% of the total loan payable on the first year up to the ninth year after the drawdown date and the balance payable upon maturity on April 3, 2028 | ||||
Term Loans | Unsecured Term Loans [Member] | P L D T | Loan agreement date December 23,2016 [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 3,500 | ||||
Date of Loan Agreement | December 23, 2016 | ||||
Lender(s) | LBP | ||||
Dates Drawn | April 5, 2017 | ||||
Drawn Amount | ₱ 3,500 | ||||
Paid in full on | — | ||||
Outstanding Amounts | ₱ 3,450 | 3,484 | |||
Terms | Annual amortization rate of 1% on the first year up to the ninth year after the drawdown date and the balance payable upon maturity on April 5, 2027 | ||||
Term Loans | Unsecured Term Loans [Member] | P L D T | April Nineteen Two Thousand Eighteen | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 2,000 | ||||
Date of Loan Agreement | April 19, 2018 | ||||
Lender(s) | LBP | ||||
Dates Drawn | April 25, 2018 | ||||
Drawn Amount | ₱ 2,000 | ||||
Paid in full on | — | ||||
Outstanding Amounts | ₱ 2,000 | ||||
Terms | Annual amortization rate equivalent to 1% of the total loan payable on the first year up to the ninth year after the drawdown date and the balance payable upon maturity on April 25, 2028 | ||||
Term Loans | Unsecured Term Loan | Smart [Member] | Loan agreement date November 25,2013 [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 3,000 | ||||
Date of Loan Agreement | November 25, 2013 | ||||
Lender(s) | Metrobank | ||||
Dates Drawn | November 29, 2013 | ||||
Drawn Amount | ₱ 3,000 | ||||
Paid in full on | — | ||||
Outstanding Amounts | ₱ 1,497 | 1,795 | |||
Terms | Annual amortization rate of 10% of the total amount drawn for six years and the final installment is payable upon maturity on November 27, 2020 | ||||
Term Loans | Unsecured Term Loan | Smart [Member] | Loan agreement date December 3,2013 [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 3,000 | ||||
Date of Loan Agreement | December 3, 2013 | ||||
Lender(s) | BPI | ||||
Dates Drawn | December 10, 2013 | ||||
Drawn Amount | ₱ 3,000 | ||||
Paid in full on | — | ||||
Outstanding Amounts | ₱ 2,846 | 2,874 | |||
Terms | Annual amortization rate of 1% of the total amount drawn for the first six years and the final installment is payable upon maturity on December 10, 2020 | ||||
Term Loans | Unsecured Term Loan | Smart [Member] | Loan agreement date January 29,2014 [Member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Loans Amount | ₱ 3,000 | ||||
Date of Loan Agreement | January 29, 2014 | ||||
Lender(s) | LBP | ||||
Dates Drawn | February 5, 2014 | ||||
Drawn Amount | ₱ 3,000 | ||||
Paid in full on | — | ||||
Outstanding Amounts | ₱ 2,875 | 2,903 | |||
Terms | Annual amortization rate of 1% of the principal amount on the first year up to the sixth year commencing on the first year anniversary of the initial drawdown and the balance payable upon maturity on February 5, 2021 | ||||
Term Loans | Others Three | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Outstanding Amounts | ₱ 24,698 | ₱ 25,207 |
Interest Bearing Financial Li_2
Interest Bearing Financial Liabilities - Summary of Obtained Loans Extended And/Or Guaranteed by Export Credit Agencies (Parenthetical) (Detail) - PHP (₱) ₱ in Millions | Dec. 31, 2018 | May 29, 2017 |
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Prepaid loan amount | ₱ 2,000 | |
Export Kreditnamnden [member] | U.S. Dollar Debts [Member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Interest rates on borrowings | 8.35% | |
Fixed Rate Retail Bonds [Member] | Loan Agreement Date January Twenty Two Two Thousand Fourteen [Member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Loans Amount | ₱ 15,000 | |
Fixed Rate Retail Bonds [Member] | Philippine Peso Debts [Member] | Loan Agreement Date January Twenty Two Two Thousand Fourteen [Member] | Tranche A [Member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Interest rates on borrowings | 5.225% | |
Loans Amount | ₱ 12,400 | |
Fixed Rate Retail Bonds [Member] | Philippine Peso Debts [Member] | Loan Agreement Date January Twenty Two Two Thousand Fourteen [Member] | Tranche B [Member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Interest rates on borrowings | 5.2813% | |
Loans Amount | ₱ 2,600 |
Deferred Credits and Other No_3
Deferred Credits and Other Noncurrent Liabilities - Summary of Deferred Credits and Other Noncurrent Liabilities (Detail) - PHP (₱) ₱ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Subclassifications Of Assets Liabilities And Equities [Abstract] | |||
Accrual of capital expenditures under long-term financing (Note 28) | ₱ 2,965 | ₱ 5,580 | |
Total provision for asset retirement obligations | 1,656 | 1,630 | ₱ 1,582 |
Noncurrent portion of contract liabilities and unearned revenues | 532 | 324 | |
Others | 131 | 168 | |
Deferred credits and non other liabilities | ₱ 5,284 | ₱ 7,702 |
Deferred Credits and Other No_4
Deferred Credits and Other Noncurrent Liabilities - Summary of Changes to Asset Retirement Obligations (Detail) - PHP (₱) ₱ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Subclassifications Of Assets Liabilities And Equities [Abstract] | ||
Provision for asset retirement obligations at beginning of the year | ₱ 1,630 | ₱ 1,582 |
Additional liability recognized during the year | 161 | 82 |
Accretion expenses | 47 | 39 |
Settlement of obligations and others | (182) | (73) |
Provision for asset retirement obligations at end of the year | ₱ 1,656 | ₱ 1,630 |
Accounts Payable - Summary of A
Accounts Payable - Summary of Accounts Payable (Detail) - PHP (₱) ₱ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Subclassifications Of Assets Liabilities And Equities [Abstract] | ||
Suppliers and contractors (Note 27) | ₱ 69,099 | ₱ 54,196 |
Carriers and other customers (Note 27) | 1,815 | 2,083 |
Taxes (Note 26) | 1,789 | 1,952 |
Related parties (Notes 24 and 27) | 684 | 451 |
Others | 1,223 | 1,763 |
Accounts payable | ₱ 74,610 | ₱ 60,445 |
Accrued Expenses and Other Cu_3
Accrued Expenses and Other Current Liabilities - Summary of Accrued Expenses and Other Current Liabilities (Detail) - PHP (₱) ₱ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Subclassifications Of Assets Liabilities And Equities [Abstract] | ||
Accrued utilities and related expenses (Notes 24 and 27) | ₱ 57,748 | ₱ 53,433 |
Accrued taxes and related expenses (Note 26) | 11,885 | 11,645 |
Accrued employee benefits and other provisions (Notes 24, 25 and 27) | 7,980 | 6,599 |
Liability from redemption of preferred shares (Notes 19 and 27) | 7,862 | 7,870 |
Current portion of contract liabilities and unearned revenues | 6,650 | 8,039 |
Accrued interests and other related costs (Note 27) | 1,347 | 1,176 |
Others | 2,252 | 1,978 |
Accrued expenses and other current liabilities | ₱ 95,724 | ₱ 90,740 |
Related Party Transactions - Su
Related Party Transactions - Summary of Outstanding Balances and Transactions with Related Parties (Detail) ₱ in Millions, $ in Millions | 12 Months Ended | |||
Dec. 31, 2018PHP (₱) | Dec. 31, 2017PHP (₱) | Dec. 31, 2016PHP (₱) | Dec. 31, 2017USD ($) | |
Disclosure Of Transactions Between Related Parties [Line Items] | ||||
Accrued expenses and other current liabilities (Note 23) | ₱ 95,724 | ₱ 90,740 | ||
Financial assets at fair value through other comprehensive income – net of current portion (Notes 6 and 24) | 2,749 | |||
Current portion of financial assets at fair value through other comprehensive income (Notes 6 and 24) | 1,604 | |||
Trade and other receivables | 40,559 | 48,262 | ||
Prepaid benefit costs | 14,015 | 15,003 | ||
Accounts payable (Note 22) | 74,610 | 60,445 | ||
Repairs and maintenance (Notes 13, 17 and 24) | 14,331 | 12,744 | ₱ 14,706 | |
Total lease expense | 7,321 | 7,016 | 6,632 | |
Financing costs | 7,067 | 7,370 | 7,354 | |
Professional and other contracted services (Note 24) | 12,809 | 12,168 | 9,386 | |
Communication, training and travel (Note 24) | 1,069 | 1,166 | 1,249 | |
Insurance and security services (Note 24) | 1,499 | 1,519 | 1,736 | |
Cost of services (Note 17) | 3,429 | 2,572 | 1,540 | |
Expenses | ₱ 150,979 | 150,415 | 140,559 | |
Accrued expenses and other current liabilities [member] | ||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||
Terms and Conditions | Immediately upon receipt of billing (Unsecured) | |||
Meralco Joint Venture Through P C E V | ||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||
Accrued expenses and other current liabilities (Note 23) | ₱ 518 | 653 | ||
Terms and Conditions | Electricity charges - immediately upon receipt of invoice (Unsecured) | |||
Repairs and maintenance (Notes 13, 17 and 24) | ₱ 2,771 | 2,397 | 2,401 | |
Total lease expense | 583 | 298 | 272 | |
Joint Venture Through PCEV Pole Rental [Member] | ||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||
Accrued expenses and other current liabilities (Note 23) | ₱ 209 | 5 | ||
Terms and Conditions | Pole rental - 45 days upon receipt of billing (Unsecured) | |||
Meralco Industrial Engineering Services Corporation, or MIESCOR Joint Venture Through PCEV [Member] | ||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||
Accrued expenses and other current liabilities (Note 23) | ₱ 3 | |||
Terms and Conditions | 30 days upon receipt of invoice (Unsecured) | |||
M P I C Joint Venture Through P C E V | ||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||
Financial assets at fair value through other comprehensive income – net of current portion (Notes 6 and 24) | ₱ 2,749 | |||
Current portion of financial assets at fair value through other comprehensive income (Notes 6 and 24) | ₱ 1,604 | |||
Trade and other receivables | 4,091 | |||
Advances and other noncurrent assets – net of current portion (Note 10) | 11,461 | |||
Terms and Conditions | Due on June 2020 and 2021 for 2018 and due on June 2019 to 2021 for 2017; non-interest-bearing (Unsecured) | |||
M P I C Joint Venture Through P C E V | Current [Member] | ||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||
Terms and Conditions | Due on June 2019 for 2018 and due on June 2018 for 2017; non-interest-bearing (Unsecured) | |||
M P I C Joint Venture Through P C E V | Trade and Other Receivables [Member] | ||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||
Terms and Conditions | Due on June 2018 for 2017 and June 2017 for 2016; non-interest-bearing | |||
M P I C Joint Venture Through P C E V | Advances and other noncurrent assets - net of current portion [Member] | ||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||
Terms and Conditions | Due on 2019 to 2021 for 2017 and 2018 to 2020 for 2016; non-interest-bearing | |||
NTT Finance Corporation [Member] | ||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||
Interest-bearing financial liabilities (Note 20) | ₱ 2,628 | 2,498 | ||
Terms and Conditions | Non-amortizing, payable upon maturity on March?30, 2023 and March 27, 2024 (Unsecured) | |||
Financing costs | ₱ 100 | 56 | 9 | |
NTT World Engineering Marine Corporation [Member] | ||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||
Accrued expenses and other current liabilities (Note 23) | ₱ 84 | 33 | ||
Terms and Conditions | 1st month of each quarter; non-interest-bearing (Unsecured) | |||
Repairs and maintenance (Notes 13, 17 and 24) | ₱ 17 | 47 | 18 | |
NTT Communications [Member] | ||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||
Accrued expenses and other current liabilities (Note 23) | ₱ 20 | 9 | ||
Terms and Conditions | 30 days upon receipt of invoice; non-interest- bearing (Unsecured) | |||
Total lease expense | ₱ 5 | 4 | 7 | |
Professional and other contracted services (Note 24) | 95 | 88 | 77 | |
NTT Worldwide Telecommunications Corporation [Member] | ||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||
Accrued expenses and other current liabilities (Note 23) | ₱ 3 | 6 | ||
Terms and Conditions | 30 days upon receipt of invoice; non-interest- bearing (Unsecured) | |||
Selling and promotions | ₱ 5 | 8 | 10 | |
NTT DOCOMO, Inc. [Member] | ||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||
Accrued expenses and other current liabilities (Note 23) | ₱ 12 | 11 | ||
Terms and Conditions | 30 days upon receipt of invoice; non-interest- bearing (Unsecured) | |||
Professional and other contracted services (Note 24) | ₱ 96 | 94 | 95 | |
JGSHI and Subsidiaries [Member] | ||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||
Accounts payable and accrued expenses and other current liabilities (Notes 22 and 23) | ₱ 13 | 11 | ||
Terms and Conditions | Immediately upon receipt of invoice (Unsecured) | |||
Repairs and maintenance (Notes 13, 17 and 24) | ₱ 111 | 69 | 57 | |
Total lease expense | 236 | 118 | 125 | |
Communication, training and travel (Note 24) | 20 | 2 | 2 | |
Miscellaneous expenses | 7 | |||
Malayan [Member] | ||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||
Accrued expenses and other current liabilities (Note 23) | 6 | 11 | ||
Prepaid benefit costs | ₱ 19 | 66 | ||
Terms and Conditions | Immediately upon receipt of invoice (Unsecured) | |||
Insurance and security services (Note 24) | ₱ 182 | 179 | 242 | |
Malayan [Member] | Accrued expenses and other current liabilities [member] | ||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||
Terms and Conditions | Immediately upon receipt of invoice (Unsecured) | |||
Gotuaco [Member] | ||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||
Accrued expenses and other current liabilities (Note 23) | ₱ 5 | 15 | ||
Prepaid benefit costs | 12 | |||
Terms and Conditions | Immediately upon receipt of invoice (Unsecured) | |||
Insurance and security services (Note 24) | ₱ 163 | 126 | 156 | |
Gotuaco [Member] | Accrued expenses and other current liabilities [member] | ||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||
Terms and Conditions | Immediately upon receipt of invoice (Unsecured) | |||
Tv Five Network Inc [Member] | ||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||
Prepaid benefit costs | 277 | $ 277 | ||
Terms and Conditions | (Unsecured) | |||
Selling and promotions | ₱ 409 | 149 | 126 | |
Cignal Cable [Member] | ||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||
Prepaid benefit costs | ₱ 169 | |||
Terms and Conditions | (Unsecured) | |||
Cost of services (Note 17) | ₱ 372 | 514 | 116 | |
Various [Member] | ||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||
Accrued expenses and other current liabilities (Note 23) | 125 | |||
Trade and other receivables | 2,094 | 1,867 | ||
Accounts payable (Note 22) | 684 | 365 | ||
Others [Member] | ||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||
Accrued expenses and other current liabilities (Note 23) | 9 | 35 | ||
Trade and other receivables | 2,094 | 1,867 | ||
Accounts payable (Note 22) | 684 | 365 | ||
Expenses | ₱ 1,935 | 1,223 | 1,113 | |
Others [Member] | Accrued expenses and other current liabilities [member] | ||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||
Terms and Conditions | Immediately upon receipt of invoice (Unsecured) | |||
Others [Member] | Trade and Other Receivables [Member] | ||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||
Terms and Conditions | 30 days upon receipt of invoice (Unsecured) | |||
Others [Member] | Accounts Payable [Member] | ||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||
Terms and Conditions | Immediately upon receipt of billing (Unsecured) | |||
MIESCOR Joint Venture Through PCEV [Member] | ||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||
Repairs and maintenance (Notes 13, 17 and 24) | ₱ 33 | 117 | 144 | |
Construction-in-progress | 33 | 81 | 67 | |
Asia Link B.V., or ALBV [Member] | ||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||
Professional and other contracted services (Note 24) | 34 | 190 | 183 | |
FPIML [Member] | ||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||
Professional and other contracted services (Note 24) | 135 | |||
Various [Member] | ||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||
Revenues | 2,355 | 2,059 | 781 | |
Expenses | ₱ 1,935 | ₱ 1,223 | ₱ 1,113 |
Related Party Transactions - _2
Related Party Transactions - Summary of Outstanding Balances and Transactions with Related Parties (Parenthetical) (Detail) shares in Millions, $ in Millions | 12 Months Ended | |||||||
Dec. 31, 2018PHP (₱)shares | Dec. 31, 2018USD ($) | Dec. 31, 2017PHP (₱) | Dec. 31, 2017USD ($) | Dec. 31, 2016PHP (₱) | Dec. 31, 2018USD ($)shares | Dec. 31, 2017USD ($) | Jan. 31, 2017USD ($) | |
Disclosure Of Transactions Between Related Parties [Line Items] | ||||||||
Repairs and maintenance (Notes 13, 17 and 24) | ₱ 14,331,000,000 | ₱ 12,744,000,000 | ₱ 14,706,000,000 | |||||
Accrued expenses and other current liabilities (Notes 23 and 26) | 95,724,000,000 | 90,740,000,000 | ||||||
Total lease expense | 7,321,000,000 | 7,016,000,000 | 6,632,000,000 | |||||
Outstanding Amounts | ₱ 176,276,000,000 | 172,611,000,000 | $ 25 | |||||
Line of credit facility maturity date | Mar. 27, 2024 | Mar. 27, 2024 | ||||||
Line of credit facility amount outstanding | ₱ 1,314,000,000 | $ 25 | 1,249,000,000 | $ 25 | ||||
Interest on loans and other related items – net (Note 5) | 6,783,000,000 | 7,014,000,000 | 6,956,000,000 | |||||
Professional and other contracted services (Note 24) | 12,809,000,000 | 12,168,000,000 | 9,386,000,000 | |||||
Selling and promotions (Note 24) | 6,340,000,000 | 5,908,000,000 | 7,687,000,000 | |||||
Other expenses | 1,138,000,000 | 882,000,000 | 1,161,000,000 | |||||
Insurance and security services | 1,499,000,000 | 1,519,000,000 | 1,736,000,000 | |||||
Prepayments | 14,015,000,000 | 15,003,000,000 | ||||||
Prepayments – net of current portion (Note 18) | 6,255,000,000 | 5,370,000,000 | ||||||
Revenues | 164,752,000,000 | 159,926,000,000 | 165,262,000,000 | |||||
Expenses | 150,979,000,000 | 150,415,000,000 | 140,559,000,000 | |||||
Trade and other receivables | 40,559,000,000 | 48,262,000,000 | ||||||
Accounts payable (Note 22) | 74,610,000,000 | 60,445,000,000 | ||||||
Consolidated income statements [Member] | ||||||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||||||
Interest on loans and other related items – net (Note 5) | 50,000,000 | 28,000,000 | ||||||
Meralco Joint Venture Through P C E V | ||||||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||||||
Repairs and maintenance (Notes 13, 17 and 24) | 2,771,000,000 | 2,397,000,000 | 2,401,000,000 | |||||
Accrued expenses and other current liabilities (Notes 23 and 26) | 518,000,000 | 653,000,000 | ||||||
Total lease expense | 583,000,000 | 298,000,000 | 272,000,000 | |||||
Meralco Joint Venture Through P C E V | February 28, 2018 [Member] | ||||||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||||||
Repairs and maintenance (Notes 13, 17 and 24) | 96,000 | 3,000,000 | 32,000,000 | |||||
Accrued expenses and other current liabilities (Notes 23 and 26) | 185,000 | 165,000 | ||||||
Construction-in-progress | 14,000,000 | 5,000,000 | 4,000,000 | |||||
Meralco Joint Venture Through P C E V | March 31, 2017 [Member] | ||||||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||||||
Repairs and maintenance (Notes 13, 17 and 24) | 33,000,000 | 114,000,000 | 112,000,000 | |||||
Accrued expenses and other current liabilities (Notes 23 and 26) | 3,000,000 | |||||||
Construction-in-progress | 19,000,000 | 76,000,000 | 63,000,000 | |||||
Joint Venture Through P C E V | ||||||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||||||
Accrued expenses and other current liabilities (Notes 23 and 26) | ₱ 209,000,000 | 5,000,000 | ||||||
Director, Key Officer or Owner [Member] | ||||||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||||||
Percentage of outstanding common stock held in entity | 10.00% | 10.00% | ||||||
Parties Related to Members of Board of Directors and Senior Management [member] | ||||||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||||||
Percentage of outstanding common stock held in entity | 10.00% | 10.00% | ||||||
NTT Finance Corporation [Member] | ||||||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||||||
Outstanding Amounts | $ | $ 25 | |||||||
Line of credit facility maturity date | Mar. 30, 2023 | Mar. 30, 2023 | ||||||
Line of credit facility amount outstanding | ₱ 50,000,000 | 28,000,000 | 9,500,000 | |||||
Amounts receivable | 1,314,000,000 | 1,249,000,000 | $ 25 | $ 25 | ||||
NTT World Engineering Marine Corporation [Member] | ||||||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||||||
Repairs and maintenance (Notes 13, 17 and 24) | 17,000,000 | 47,000,000 | 18,000,000 | |||||
Accrued expenses and other current liabilities (Notes 23 and 26) | 84,000,000 | 33,000,000 | ||||||
NTT Communications Corporation [Member] | ||||||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||||||
Accrued expenses and other current liabilities (Notes 23 and 26) | 16,000,000 | 7,000,000 | ||||||
Professional and other contracted services (Note 24) | 95,000,000 | 88,000,000 | 77,000,000 | |||||
Conventional International Telecommunication [Member] | ||||||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||||||
Accrued expenses and other current liabilities (Notes 23 and 26) | 4,000,000 | 2,000,000 | ||||||
Total lease expense | 5,000,000 | 4,000,000 | 7,000,000 | |||||
NTT Worldwide Telecommunications Corporation [Member] | ||||||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||||||
Accrued expenses and other current liabilities (Notes 23 and 26) | 3,000,000 | 6,000,000 | ||||||
Selling and promotions (Note 24) | 5,000,000 | 8,000,000 | 10,000,000 | |||||
NTT DOCOMO, Inc. [Member] | ||||||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||||||
Accrued expenses and other current liabilities (Notes 23 and 26) | 12,000,000 | 11,000,000 | ||||||
Professional and other contracted services (Note 24) | 96,000,000 | 94,000,000 | 95,000,000 | |||||
JGSHI and Subsidiaries [Member] | ||||||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||||||
Repairs and maintenance (Notes 13, 17 and 24) | 111,000,000 | 69,000,000 | 57,000,000 | |||||
Total lease expense | 236,000,000 | 118,000,000 | 125,000,000 | |||||
Accounts payable, accrued liabilities and other current liabilities | 10,000,000 | 5,000,000 | ||||||
Other expenses | 138,000,000 | 71,000,000 | 59,000,000 | |||||
JGSHI and Subsidiaries [Member] | Airfare, electricity, marketing expenses and bank fees [Member] | ||||||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||||||
Accounts payable, accrued liabilities and other current liabilities | 3,000,000 | 6,000,000 | ||||||
Malayan [Member] | ||||||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||||||
Accrued expenses and other current liabilities (Notes 23 and 26) | 6,000,000 | 11,000,000 | ||||||
Insurance and security services | 182,000,000 | 179,000,000 | 242,000,000 | |||||
Prepayments | 19,000,000 | 66,000,000 | ||||||
Prepayments – net of current portion (Note 18) | 6,000,000 | 11,000,000 | ||||||
Gotuaco [Member] | ||||||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||||||
Accrued expenses and other current liabilities (Notes 23 and 26) | 5,000,000 | 15,000,000 | ||||||
Insurance and security services | 163,000,000 | 126,000,000 | 156,000,000 | |||||
Prepayments | 12,000,000 | |||||||
Prepayments – net of current portion (Note 18) | 5,000,000 | 15,000,000 | ||||||
ALBV [Member] | ||||||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||||||
Accrued expenses and other current liabilities (Notes 23 and 26) | 0 | 0 | ||||||
Professional and other contracted services (Note 24) | ₱ 34,000,000 | 190,000,000 | 183,000,000 | |||||
Payment of technical service fees equivalent to rate of consolidated net revenue | 0.50% | 0.50% | ||||||
FPIML [Member] | ||||||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||||||
Professional and other contracted services (Note 24) | ₱ 135,000,000 | |||||||
service fee | 250,000,000 | |||||||
NTT Communications [Member] | ||||||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||||||
Accrued expenses and other current liabilities (Notes 23 and 26) | 20,000,000 | 9,000,000 | ||||||
Total lease expense | 5,000,000 | 4,000,000 | 7,000,000 | |||||
Professional and other contracted services (Note 24) | ₱ 95,000,000 | 88,000,000 | 77,000,000 | |||||
NTT Communications [Member] | Common Stock [Member] | ||||||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||||||
Shares of entity transferred by related party | shares | 12.6 | 12.6 | ||||||
NTT Communications and NTT Docomo [Member] | ||||||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||||||
Outstanding common stock held | 20.00% | 20.00% | ||||||
NTT Communications and NTT Docomo [Member] | Stock Purchase And Strategic Investment Agreement [Member] | ||||||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||||||
Percentage of ownership held by related party for terminating agreement | 10.00% | 10.00% | ||||||
NTT Communications and NTT Docomo [Member] | Top of range [member] | ||||||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||||||
Restriction on ownership of shares percentage | 21.00% | 21.00% | ||||||
NTT Communications and NTT Docomo [Member] | Bottom Of Range [Member] | ||||||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||||||
Outstanding common stock held | 17.50% | 17.50% | ||||||
First Pacific And Affiliates [Member] | ||||||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||||||
Percentage of ownership held by related party for terminating agreement | 18.50% | 18.50% | ||||||
Tv Five Network Inc [Member] | ||||||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||||||
Selling and promotions (Note 24) | ₱ 409,000,000 | 149,000,000 | 126,000,000 | |||||
Prepayments | 277,000,000 | $ 277 | ||||||
Advertisement Agreement Period | 5 years | 5 years | ||||||
Description Of Agreement Extension Period | 2015 to 2018 | 2015 to 2018 | ||||||
Dakila Cable Tv Corporation | ||||||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||||||
Outstanding Amounts | ₱ 169,000,000 | 125,000,000 | ||||||
Content cost recognized | 372,000,000 | 514,000,000 | 116,000,000 | |||||
Others [Member] | ||||||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||||||
Accrued expenses and other current liabilities (Notes 23 and 26) | 9,000,000 | 35,000,000 | ||||||
Revenues | 2,355,000,000 | 2,059,000,000 | 781,000,000 | |||||
Expenses | 1,935,000,000 | 1,223,000,000 | ₱ 1,113,000,000 | |||||
Trade and other receivables | 2,094,000,000 | 1,867,000,000 | ||||||
Accounts payable (Note 22) | ₱ 684,000,000 | ₱ 365,000,000 |
Related Party Transactions - _3
Related Party Transactions - Summary of Compensation of Key Officers by Benefit Type (Detail) - PHP (₱) ₱ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure Of Transactions Between Related Parties [Abstract] | |||
Short-term employee benefits | ₱ 401 | ₱ 325 | ₱ 527 |
Share-based payments (Note 25) | 83 | ||
Post-employment benefits (Note 25) | 30 | 27 | 50 |
Total compensation paid to key officers of the PLDT Group | ₱ 514 | ₱ 352 | ₱ 577 |
Related Party Transactions - Ad
Related Party Transactions - Additional Information (Detail) - PHP (₱) ₱ in Thousands | 12 Months Ended | ||
Dec. 12, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure Of Transactions Between Related Parties [Abstract] | |||
Director fee for each board meeting | ₱ 250 | ||
Fee for each committee meeting attended | 125 | ||
Total fees paid for board meetings and board committee meetings | ₱ 63,000 | ₱ 72,000 | ₱ 57,000 |
Employee Benefits - Summary of
Employee Benefits - Summary of Changes in Present Value of Defined Benefit Obligations, Fair Value of Plan Assets and Components of Net Periodic Benefit Costs of Defined Benefit Pension Plans (Detail) - PHP (₱) ₱ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
Interest costs on benefit obligation | ₱ 457 | ₱ 539 | ₱ 471 |
Service costs | 1,063 | 1,158 | 1,066 |
Unfunded status – net | (7,144) | (8,969) | (11,182) |
Accrued benefit costs | 7,159 | 8,984 | 11,197 |
Prepaid benefit costs (Note 18) | 15 | 15 | 15 |
Curtailment/settlement losses and other adjustments | 21 | (341) | |
Net periodic benefit costs (Note 5) | 1,541 | 1,356 | 1,537 |
Present value of defined benefit obligation [Member] | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
Present value of defined benefit obligations at beginning of the year | 21,503 | 23,142 | 21,602 |
Interest costs on benefit obligation | 1,227 | 1,180 | 1,071 |
Service costs | 1,063 | 1,158 | 1,066 |
Actual benefits paid/settlements | (887) | (2,723) | (241) |
Actuarial losses – experience | 419 | 423 | 369 |
Actuarial gains – economic assumptions | (2,611) | (1,277) | (694) |
Curtailments and others (Note 5) | (31) | (400) | (31) |
Present value of defined benefit obligations at end of the year | 20,683 | 21,503 | 23,142 |
Plan assets [Member] | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
Actual benefits paid/settlements | (887) | (2,723) | (241) |
Fair value of plan assets at beginning of the year | 12,534 | 11,960 | 11,439 |
Actual contributions | 5,110 | 5,122 | 5,708 |
Interest income on plan assets | 770 | 641 | 600 |
Return on plan assets (excluding amount included in net interest) | (3,988) | (2,466) | (5,546) |
Fair value of plan assets at end of the year | ₱ 13,539 | ₱ 12,534 | ₱ 11,960 |
Employee Benefits - Additional
Employee Benefits - Additional Information (Detail) ₱ / shares in Units, ₱ in Millions | May 25, 2018PHP (₱) | Apr. 05, 2018shares | Mar. 07, 2018shares | Sep. 26, 2017shares | Jun. 01, 2015PHP (₱) | May 21, 2015PHP (₱) | Dec. 31, 2014PHP (₱) | Mar. 11, 2014PHP (₱) | Feb. 19, 2014PHP (₱) | Sep. 27, 2013 | Jan. 25, 2013PHP (₱) | Aug. 09, 2012PHP (₱) | Jul. 06, 2012PHP (₱) | Jun. 30, 2012PHP (₱) | May 08, 2012PHP (₱) | Oct. 31, 2013PHP (₱) | Aug. 31, 2013PHP (₱) | Dec. 31, 2018PHP (₱)m²Year₱ / sharesshares | Dec. 12, 2018PHP (₱) | Dec. 31, 2017PHP (₱)₱ / sharesshares | Dec. 31, 2016PHP (₱) | Mar. 21, 2019shares | Oct. 26, 2012PHP (₱)₱ / shares |
Disclosure Of Defined Benefit Plans [Line Items] | |||||||||||||||||||||||
Actual net gain (losses) on plan assets | ₱ 3,218 | ₱ 1,825 | ₱ 4,946 | ||||||||||||||||||||
Expected contribution in 2019 to the defined benefit plan | ₱ 1,217 | ||||||||||||||||||||||
Description of retirement benefit plan | Benefits are payable in the event of termination of employment due to: (i) compulsory, optional, or deferred retirement; (ii) death while in active service; (iii) physical disability; (iv) voluntary resignation; or (v) involuntary separation from service. For a plan member with less than 15 years of credited services, retirement benefit is equal to 100% of final compensation for every year of service. For those with at least 15 years of service, retirement benefit is equal to 125% of final compensation for every year of service, with such percentage to be increased by an additional 5% for each completed year of service in excess of 15 years, but not to exceed a maximum of 200%. In case of voluntary resignation after attainment of age 40 and completion of at least 15 years of credited service, benefit is equal to a percentage of his vested retirement benefit, in accordance with percentages prescribed in the retirement plan | ||||||||||||||||||||||
VIU calculations derived from cash flow projections | The VIU calculations were derived from cash flow projections over a period of three to five years based on the 2019 financial budgets approved by the MediaQuest’s Board of Directors and calculated terminal value. | ||||||||||||||||||||||
Direct subscription in shares of stocks | ₱ 112 | ||||||||||||||||||||||
Unpaid subscription in unlisted equity investments | 32 | ||||||||||||||||||||||
Cumulative change in fair market value of investment | ₱ 394 | 355 | |||||||||||||||||||||
Fixed interest rates | 5.88% | ||||||||||||||||||||||
Investments | ₱ 31 | 22 | |||||||||||||||||||||
Investment properties (Notes 6 and 13) | ₱ 777 | ₱ 1,635 | 1,890 | ||||||||||||||||||||
Debt and fixed income securities | 1.00% | 1.00% | |||||||||||||||||||||
Net pension benefit cost | ₱ 314 | ₱ 251 | 238 | ||||||||||||||||||||
Accrued expenses and other current liabilities (Notes 23 and 26) | 95,724 | 90,740 | |||||||||||||||||||||
Transformation Incentive Plan [Member] | |||||||||||||||||||||||
Disclosure Of Defined Benefit Plans [Line Items] | |||||||||||||||||||||||
Accrued expenses and other current liabilities (Notes 23 and 26) | 208 | 827 | |||||||||||||||||||||
Performance Shares [Member] | |||||||||||||||||||||||
Disclosure Of Defined Benefit Plans [Line Items] | |||||||||||||||||||||||
Number of shares issued | shares | 204,000 | ||||||||||||||||||||||
Number of shares authorized for acquisition of additional performance shares | shares | 54,000 | ||||||||||||||||||||||
Smart and Subsidiaries [Member] | |||||||||||||||||||||||
Disclosure Of Defined Benefit Plans [Line Items] | |||||||||||||||||||||||
Actual net gain (losses) on plan assets | 205 | 51 | |||||||||||||||||||||
Expected contribution in 2019 to the defined benefit plan | 260 | ||||||||||||||||||||||
Net pension benefit cost | 3,159 | 2,862 | |||||||||||||||||||||
Plan Assets of Defined Benefit Pension Plans | 3,794 | 3,728 | |||||||||||||||||||||
Smart and Subsidiaries [Member] | International Equities Investment [Member] | |||||||||||||||||||||||
Disclosure Of Defined Benefit Plans [Line Items] | |||||||||||||||||||||||
Plan Assets of Defined Benefit Pension Plans | 550 | 557 | |||||||||||||||||||||
Smart and Subsidiaries [Member] | Domestic Fixed Income [Member] | |||||||||||||||||||||||
Disclosure Of Defined Benefit Plans [Line Items] | |||||||||||||||||||||||
Plan Assets of Defined Benefit Pension Plans | 333 | 555 | |||||||||||||||||||||
Smart and Subsidiaries [Member] | PLDT Shares [Member] | |||||||||||||||||||||||
Disclosure Of Defined Benefit Plans [Line Items] | |||||||||||||||||||||||
Plan Assets of Defined Benefit Pension Plans | ₱ 15 | ₱ 24 | |||||||||||||||||||||
Smart and Subsidiaries [Member] | Philippine Foreign Currency Bonds [Member] | |||||||||||||||||||||||
Disclosure Of Defined Benefit Plans [Line Items] | |||||||||||||||||||||||
Percentage of interest earned | 4.25% | 7.38% | |||||||||||||||||||||
Plan Assets of Defined Benefit Pension Plans | ₱ 165 | ₱ 373 | |||||||||||||||||||||
Smart and Subsidiaries [Member] | Domestic Fixed Income [Member] | |||||||||||||||||||||||
Disclosure Of Defined Benefit Plans [Line Items] | |||||||||||||||||||||||
Plan Assets of Defined Benefit Pension Plans | 361 | ||||||||||||||||||||||
Corporate Bonds [Member] | |||||||||||||||||||||||
Disclosure Of Defined Benefit Plans [Line Items] | |||||||||||||||||||||||
Investments | 133 | 111 | |||||||||||||||||||||
Mutual Funds [Member] | |||||||||||||||||||||||
Disclosure Of Defined Benefit Plans [Line Items] | |||||||||||||||||||||||
Investments | ₱ 4 | 30 | |||||||||||||||||||||
Investment property [member] | |||||||||||||||||||||||
Disclosure Of Defined Benefit Plans [Line Items] | |||||||||||||||||||||||
Area of condominium unit of investment property | m² | 58 | ||||||||||||||||||||||
Investment properties (Notes 6 and 13) | 4 | ||||||||||||||||||||||
Equity Securities 1 [Member] | Smart and Subsidiaries [Member] | Domestic Fixed Income [Member] | |||||||||||||||||||||||
Disclosure Of Defined Benefit Plans [Line Items] | |||||||||||||||||||||||
Plan Assets of Defined Benefit Pension Plans | ₱ 1,854 | ₱ 1,721 | |||||||||||||||||||||
Debt and Fixed Income Securities [Member] | Smart and Subsidiaries [Member] | Domestic Fixed Income [Member] | |||||||||||||||||||||||
Disclosure Of Defined Benefit Plans [Line Items] | |||||||||||||||||||||||
Percentage of interest earned | 2.80% | 10.13% | |||||||||||||||||||||
Parent [Member] | |||||||||||||||||||||||
Disclosure Of Defined Benefit Plans [Line Items] | |||||||||||||||||||||||
Dividends earned on common shares | ₱ 2 | ₱ 2 | 3 | ||||||||||||||||||||
Trustee [Member] | Major business combination [member] | |||||||||||||||||||||||
Disclosure Of Defined Benefit Plans [Line Items] | |||||||||||||||||||||||
Acquired Shares of Common Stock | shares | 757,000 | ||||||||||||||||||||||
SMPHI [Member] | |||||||||||||||||||||||
Disclosure Of Defined Benefit Plans [Line Items] | |||||||||||||||||||||||
Shares of stocks sold to third party | ₱ 142 | ||||||||||||||||||||||
Unlisted Preferred Shares [Member] | |||||||||||||||||||||||
Disclosure Of Defined Benefit Plans [Line Items] | |||||||||||||||||||||||
Subscription price per share | ₱ / shares | ₱ 10 | ₱ 10 | |||||||||||||||||||||
Unlisted preferred shares | shares | 300,000,000 | 300,000,000 | |||||||||||||||||||||
Subscription payable | ₱ 2,640 | ₱ 2,640 | |||||||||||||||||||||
Dividend rate | 13.50% | 13.50% | |||||||||||||||||||||
Dividends earned | ₱ 49 | ₱ 49 | 49 | ||||||||||||||||||||
MediaQuest PDRs [Member] | |||||||||||||||||||||||
Disclosure Of Defined Benefit Plans [Line Items] | |||||||||||||||||||||||
Deposits | ₱ 6,000 | ||||||||||||||||||||||
Percentage of Economic Interest | 40.00% | ||||||||||||||||||||||
Deposit for future subscription | ₱ 4,000 | ||||||||||||||||||||||
Additional deposit for subscription | ₱ 1,000 | ₱ 1,000 | |||||||||||||||||||||
Additional investment | 2,700 | 2,500 | ₱ 5,500 | ||||||||||||||||||||
Amunt drawn for investment requirements | 2,700 | ||||||||||||||||||||||
Loss on changes in fair value of the investments | 3,038 | 2,071 | |||||||||||||||||||||
Satventures Philippine Depositary Receipts [Member] | |||||||||||||||||||||||
Disclosure Of Defined Benefit Plans [Line Items] | |||||||||||||||||||||||
Percentage of Economic Interest | 40.00% | ||||||||||||||||||||||
Deposit for future subscription | ₱ 3,600 | ||||||||||||||||||||||
Additional amount deposited | ₱ 3,600 | ||||||||||||||||||||||
Cignal TV Philippine Depositary Receipts [Member] | |||||||||||||||||||||||
Disclosure Of Defined Benefit Plans [Line Items] | |||||||||||||||||||||||
Percentage of Economic Interest | 64.00% | ||||||||||||||||||||||
Hastings Philippine Depositary Receipts [Member] | |||||||||||||||||||||||
Disclosure Of Defined Benefit Plans [Line Items] | |||||||||||||||||||||||
Percentage of Economic Interest | 70.00% | ||||||||||||||||||||||
Deposit for future subscription | ₱ 300 | ₱ 1,950 | |||||||||||||||||||||
Additional amount deposited | ₱ 3,250 | ₱ 500 | ₱ 1,950 | ||||||||||||||||||||
Total deposit for subscription | ₱ 2,250 | ||||||||||||||||||||||
Additional investment | ₱ 800 | ||||||||||||||||||||||
Settlement amount | 200 | ||||||||||||||||||||||
Balance investment amount | ₱ 500 | ||||||||||||||||||||||
BTF Holdings, Inc. [Member] | Voting Preferred Stock [Member] | |||||||||||||||||||||||
Disclosure Of Defined Benefit Plans [Line Items] | |||||||||||||||||||||||
Voting preferred stock | ₱ 150 | ||||||||||||||||||||||
Subscription price per share | ₱ / shares | ₱ 1 | ||||||||||||||||||||||
Total Subscription Price | ₱ 150 | ||||||||||||||||||||||
Dividend income | 10 | 10 | |||||||||||||||||||||
Dividends received | ₱ 2 | 2 | |||||||||||||||||||||
Bancholders Inc [member] | |||||||||||||||||||||||
Disclosure Of Defined Benefit Plans [Line Items] | |||||||||||||||||||||||
Cumulative change in fair market value of investment | ₱ 93 | ||||||||||||||||||||||
Plan Member with Less Than 15 Years of Credited Services [Member] | |||||||||||||||||||||||
Disclosure Of Defined Benefit Plans [Line Items] | |||||||||||||||||||||||
Credited services period | 15 years | ||||||||||||||||||||||
Percentage of retirement benefit equal to compensation | 100.00% | ||||||||||||||||||||||
Plan Member with At Least 15 Years of Credited Services [Member] | |||||||||||||||||||||||
Disclosure Of Defined Benefit Plans [Line Items] | |||||||||||||||||||||||
Credited services period | 15 years | ||||||||||||||||||||||
Percentage of retirement benefit equal to compensation | 125.00% | ||||||||||||||||||||||
Plan Member with At Least 15 Years of Credited Services [Member] | |||||||||||||||||||||||
Disclosure Of Defined Benefit Plans [Line Items] | |||||||||||||||||||||||
Credited services period | 15 years | ||||||||||||||||||||||
Additional retirement benefit percentage for each completed year in excess of 15 years | 5.00% | ||||||||||||||||||||||
Bottom Of Range [Member] | |||||||||||||||||||||||
Disclosure Of Defined Benefit Plans [Line Items] | |||||||||||||||||||||||
Pre-tax discount rates applied to cash flow projections | 11.23% | ||||||||||||||||||||||
Growth rate of cash flows beyond the projection period | 0.00% | ||||||||||||||||||||||
Percentage of contribution to plan by employer | 5.00% | ||||||||||||||||||||||
Debt and fixed income securities | 10.00% | ||||||||||||||||||||||
Bottom Of Range [Member] | Performance Shares [Member] | |||||||||||||||||||||||
Disclosure Of Defined Benefit Plans [Line Items] | |||||||||||||||||||||||
Performance share awards performance period | Dec. 31, 2019 | ||||||||||||||||||||||
Bottom Of Range [Member] | Corporate Bonds [Member] | |||||||||||||||||||||||
Disclosure Of Defined Benefit Plans [Line Items] | |||||||||||||||||||||||
Fixed interest rates | 4.13% | ||||||||||||||||||||||
Bottom Of Range [Member] | Equity Securities 1 [Member] | |||||||||||||||||||||||
Disclosure Of Defined Benefit Plans [Line Items] | |||||||||||||||||||||||
Proportion of portfolio percentage | 10.00% | ||||||||||||||||||||||
Bottom Of Range [Member] | Debt and Fixed Income Securities [Member] | |||||||||||||||||||||||
Disclosure Of Defined Benefit Plans [Line Items] | |||||||||||||||||||||||
Proportion of portfolio percentage | 60.00% | ||||||||||||||||||||||
Top of range [member] | |||||||||||||||||||||||
Disclosure Of Defined Benefit Plans [Line Items] | |||||||||||||||||||||||
Average duration of the defined benefit obligation | 19 | ||||||||||||||||||||||
Pre-tax discount rates applied to cash flow projections | 13.10% | ||||||||||||||||||||||
Growth rate of cash flows beyond the projection period | 5.80% | ||||||||||||||||||||||
Percentage of contribution to plan by employer | 10.00% | ||||||||||||||||||||||
Percentage of contribution to plan by employee | 10.00% | ||||||||||||||||||||||
Debt and fixed income securities | 50.00% | ||||||||||||||||||||||
Top of range [member] | Performance Shares [Member] | |||||||||||||||||||||||
Disclosure Of Defined Benefit Plans [Line Items] | |||||||||||||||||||||||
Performance share awards performance period | Jan. 1, 2017 | ||||||||||||||||||||||
Number of shares issued | shares | 914,000 | 860,000 | |||||||||||||||||||||
Top of range [member] | Corporate Bonds [Member] | |||||||||||||||||||||||
Disclosure Of Defined Benefit Plans [Line Items] | |||||||||||||||||||||||
Fixed interest rates | 7.06% | ||||||||||||||||||||||
Top of range [member] | Equity Securities 1 [Member] | |||||||||||||||||||||||
Disclosure Of Defined Benefit Plans [Line Items] | |||||||||||||||||||||||
Proportion of portfolio percentage | 40.00% | ||||||||||||||||||||||
Top of range [member] | Debt and Fixed Income Securities [Member] | |||||||||||||||||||||||
Disclosure Of Defined Benefit Plans [Line Items] | |||||||||||||||||||||||
Proportion of portfolio percentage | 90.00% | ||||||||||||||||||||||
Top of range [member] | Plan Member with At Least 15 Years of Credited Services [Member] | |||||||||||||||||||||||
Disclosure Of Defined Benefit Plans [Line Items] | |||||||||||||||||||||||
Percentage of retirement benefit equal to compensation | 200.00% |
Employee Benefits - Summary o_2
Employee Benefits - Summary of Expected Future Settlements of Defined Benefit Pension Plans (Detail) ₱ in Millions | Dec. 31, 2018PHP (₱) |
Within 12 months [Member] | |
Disclosure Of Defined Benefit Plans [Line Items] | |
Expected future settlements by Plan of maturing defined benefit obligation | ₱ 368 |
2020 [Member] | |
Disclosure Of Defined Benefit Plans [Line Items] | |
Expected future settlements by Plan of maturing defined benefit obligation | 396 |
2021 [Member] | |
Disclosure Of Defined Benefit Plans [Line Items] | |
Expected future settlements by Plan of maturing defined benefit obligation | 566 |
2022 [Member] | |
Disclosure Of Defined Benefit Plans [Line Items] | |
Expected future settlements by Plan of maturing defined benefit obligation | 768 |
2023 [Member] | |
Disclosure Of Defined Benefit Plans [Line Items] | |
Expected future settlements by Plan of maturing defined benefit obligation | 1,102 |
2024 and onwards [Member] | |
Disclosure Of Defined Benefit Plans [Line Items] | |
Expected future settlements by Plan of maturing defined benefit obligation | ₱ 105,007 |
Employee Benefits - Summary o_3
Employee Benefits - Summary of Weighted Average Assumptions Used to Determine Pension Benefits of Defined Benefit Pension Plans (Detail) | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure Of Defined Benefit Plans [Line Items] | |||
Rate of increase in compensation | 6.00% | 6.00% | 6.00% |
Discount rate | 7.30% | 5.80% | 5.30% |
Investment property [member] | Smart and Subsidiaries [Member] | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Rate of increase in compensation | 7.30% | 5.00% | 5.00% |
Discount rate | 6.00% | 5.80% | 5.20% |
Employee Benefits - Summary o_4
Employee Benefits - Summary of Sensitivity Analysis on Defined Benefit Obligation of Defined Benefit Pension Plans (Detail) ₱ in Millions | Dec. 31, 2018PHP (₱) |
Disclosure Of Sensitivity Analysis For Actuarial Assumptions [Line Items] | |
Percentage of decrease in defined benefit obligation | (20.00%) |
Actuarial assumption of discount rates [member] | |
Disclosure Of Sensitivity Analysis For Actuarial Assumptions [Line Items] | |
Increase (decrease) in defined benefit obligation due to 1% increase | ₱ (664) |
Increase (decrease) in defined benefit obligation due to 1% decrease | ₱ 1,011 |
Percentage of increase in defined benefit obligation | 1.00% |
Percentage of decrease in defined benefit obligation | (1.00%) |
Actuarial assumption of discount rates [member] | Defined Contribution Plans [member] | |
Disclosure Of Sensitivity Analysis For Actuarial Assumptions [Line Items] | |
Increase (decrease) in defined benefit obligation due to 1% increase | ₱ (6) |
Increase (decrease) in defined benefit obligation due to 1% decrease | ₱ 11 |
Percentage of increase in defined benefit obligation | 1.00% |
Percentage of decrease in defined benefit obligation | (1.00%) |
Actuarial assumption of expected rates of salary increases [member] | |
Disclosure Of Sensitivity Analysis For Actuarial Assumptions [Line Items] | |
Increase (decrease) in defined benefit obligation due to 1% increase | ₱ 1,015 |
Increase (decrease) in defined benefit obligation due to 1% decrease | ₱ (679) |
Percentage of increase in defined benefit obligation | 1.00% |
Percentage of decrease in defined benefit obligation | (1.00%) |
Actuarial assumption of expected rates of salary increases [member] | Defined Contribution Plans [member] | |
Disclosure Of Sensitivity Analysis For Actuarial Assumptions [Line Items] | |
Increase (decrease) in defined benefit obligation due to 1% increase | ₱ 11 |
Increase (decrease) in defined benefit obligation due to 1% decrease | ₱ (6) |
Percentage of increase in defined benefit obligation | 1.00% |
Percentage of decrease in defined benefit obligation | (1.00%) |
Employee Benefits - Summary o_5
Employee Benefits - Summary of Plan Assets of Defined Benefit Pension Plans (Detail) - PHP (₱) ₱ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Total Plan Assets of Defined Contribution Plans | ₱ 314 | ₱ 251 | ₱ 238 |
Smart and Subsidiaries [Member] | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Plan Assets of Defined Benefit Pension Plans | 3,794 | 3,728 | |
Employee’s share, forfeitures and mandatory reserve account | 635 | 866 | |
Total Plan Assets of Defined Contribution Plans | 3,159 | 2,862 | |
Smart and Subsidiaries [Member] | Non-current financial assets [member] | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Plan Assets of Defined Benefit Pension Plans | 2,902 | 3,567 | |
Smart and Subsidiaries [Member] | Current Financial Assets [member] | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Plan Assets of Defined Benefit Pension Plans | 892 | 161 | |
Smart and Subsidiaries [Member] | Current Financial Assets [member] | Cash and Cash Equivalent [member] | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Plan Assets of Defined Benefit Pension Plans | 891 | 153 | |
Smart and Subsidiaries [Member] | Current Financial Assets [member] | Receivables [Member] | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Plan Assets of Defined Benefit Pension Plans | 1 | 8 | |
Domestic Fixed Income Investment [Member] | Smart and Subsidiaries [Member] | Non-current financial assets [member] | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Plan Assets of Defined Benefit Pension Plans | 1,854 | 1,721 | |
International Fixed Income Investment [Member] | Smart and Subsidiaries [Member] | Non-current financial assets [member] | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Plan Assets of Defined Benefit Pension Plans | 361 | ||
International Equities Investment [Member] | Smart and Subsidiaries [Member] | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Plan Assets of Defined Benefit Pension Plans | 550 | 557 | |
International Equities Investment [Member] | Smart and Subsidiaries [Member] | Non-current financial assets [member] | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Plan Assets of Defined Benefit Pension Plans | 550 | 557 | |
Domestic Equities Investment [Member] | Smart and Subsidiaries [Member] | Non-current financial assets [member] | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Plan Assets of Defined Benefit Pension Plans | 333 | 555 | |
Philippine Foreign Currency Bonds Investment [Member] | Smart and Subsidiaries [Member] | Non-current financial assets [member] | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Plan Assets of Defined Benefit Pension Plans | 165 | 373 | |
Defined Benefit Plan Assets [Member] | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Noncurrent Financial Assets | 12,941 | 12,049 | |
Current Financial Assets | 507 | 400 | |
Plan Assets of Defined Benefit Pension Plans | 13,539 | 12,534 | |
Defined Benefit Plan Assets [Member] | Parent [Member] | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Plan Assets of Defined Benefit Pension Plans | 13,448 | 12,449 | |
Defined Benefit Plan Assets [Member] | Subsidiaries [Member] | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Plan Assets of Defined Benefit Pension Plans | 91 | 85 | |
Defined Benefit Plan Assets [Member] | Unlisted equity investments [Member] | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Noncurrent Financial Assets | 10,707 | 9,372 | |
Defined Benefit Plan Assets [Member] | Shares of stock [Member] | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Noncurrent Financial Assets | 2,066 | 2,510 | |
Defined Benefit Plan Assets [Member] | Corporate Bonds [Member] | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Noncurrent Financial Assets | 133 | 111 | |
Defined Benefit Plan Assets [Member] | Government Securities [Member] | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Noncurrent Financial Assets | 31 | 22 | |
Defined Benefit Plan Assets [Member] | Mutual Funds [Member] | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Noncurrent Financial Assets | 4 | 30 | |
Defined Benefit Plan Assets [Member] | Investment Property [Member] | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Noncurrent Financial Assets | 4 | ||
Defined Benefit Plan Assets [Member] | Cash and Cash Equivalent [member] | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Current Financial Assets | 499 | 396 | |
Defined Benefit Plan Assets [Member] | Receivables [Member] | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Current Financial Assets | ₱ 8 | ₱ 4 |
Employee Benefits - Summary o_6
Employee Benefits - Summary of Unlisted Equity Investments of Defined Benefit Pension Plans (Detail) - PHP (₱) ₱ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Unlisted Equity Investments | ₱ 55,427 | ₱ 46,130 | ₱ 56,858 |
MediaQuest PDRs [Member] | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
% of Ownership | 100.00% | 100.00% | |
Unlisted Equity Investments | ₱ 10,022 | ₱ 8,696 | |
Tahanan Mutual Building and Loan Association Inc [member] | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
% of Ownership | 100.00% | 100.00% | |
Unlisted Equity Investments | ₱ 474 | ₱ 435 | |
BTF Holdings, Inc. [Member] | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
% of Ownership | 100.00% | 100.00% | |
Unlisted Equity Investments | ₱ 211 | ₱ 201 | |
Superior Multi Paranaque Homes Inc or SMPHI [member] | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
% of Ownership | 100.00% | 100.00% | |
Unlisted Equity Investments | ₱ 39 | ||
Bancholders Inc Or Bancholders | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
% of Ownership | 100.00% | 100.00% | |
Unlisted Equity Investments | ₱ 1 | ||
Unlisted equity investments [Member] | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Unlisted Equity Investments | ₱ 10,707 | ₱ 9,372 |
Employee Benefits - Summary o_7
Employee Benefits - Summary of Unlisted Equity Investments of Defined Benefit Pension Plans (Parenthetical) (Detail) - PHP (₱) ₱ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Tahanan Mutual Building and Loan Association Inc [member] | ||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||
Net subscriptions payable | ₱ 32 | ₱ 32 |
Employee Benefits - Summary o_8
Employee Benefits - Summary of Shares of Stocks of Defined Benefit Pension Plans (Detail) - PHP (₱) ₱ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||
Shares of stocks | ₱ 2,066 | ₱ 2,510 |
Preferred stock [Member] | ||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||
Shares of stocks | 360 | 360 |
PSE [member] | Common Stock [Member] | ||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||
Shares of stocks | 1,185 | 1,555 |
Parent [Member] | Common Stock [Member] | ||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||
Shares of stocks | 30 | 39 |
Others [Member] | Common Stock [Member] | ||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||
Shares of stocks | ₱ 491 | ₱ 556 |
Employee Benefits - Summary o_9
Employee Benefits - Summary of Allocation of Fair Value of Plan Assets of Defined Benefit Pension Plans (Detail) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Fair Value Of Plan Assets [Abstract] | ||
Investments in listed and unlisted equity securities | 95.00% | 95.00% |
Temporary cash investments | 4.00% | 3.00% |
Debt and fixed income securities | 1.00% | 1.00% |
Mutual funds | 1.00% | |
Net investments | 100.00% | 100.00% |
Employee Benefits - Summary _10
Employee Benefits - Summary of Changes in Present Value of Defined Benefit Obligations, Fair Value of Plan Assets and Components of Net Periodic Benefit Costs of Defined Contribution Plans (Detail) - PHP (₱) ₱ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Service costs | ₱ 1,063 | ₱ 1,158 | ₱ 1,066 |
Accrued benefit costs | 7,159 | 8,984 | 11,197 |
Interest costs – net | 457 | 539 | 471 |
Net periodic benefit costs (Note 5) | 1,541 | 1,356 | 1,537 |
Present value of defined benefit obligation [Member] | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Present value of defined benefit obligations at beginning of the year | 21,503 | 23,142 | 21,602 |
Service costs | 1,063 | 1,158 | 1,066 |
Actuarial losses – economic assumptions | 2,611 | 1,277 | 694 |
Actuarial gains – experience | (419) | (423) | (369) |
Actual benefits paid/settlements | (887) | (2,723) | (241) |
Present value of defined benefit obligations at end of the year | 20,683 | 21,503 | 23,142 |
Interest costs – net | 1,227 | 1,180 | 1,071 |
Plan assets [Member] | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Actual benefits paid/settlements | (887) | (2,723) | (241) |
Fair value of plan assets at beginning of the year | 12,534 | 11,960 | 11,439 |
Actual contributions | 5,110 | 5,122 | 5,708 |
Interest income on plan assets | 770 | 641 | 600 |
Return on plan assets (excluding amount included in net interest) | (3,988) | (2,466) | (5,546) |
Fair value of plan assets at end of the year | 13,539 | 12,534 | 11,960 |
Investment property [member] | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Service costs | 314 | 269 | 284 |
Curtailment and others | (15) | ||
Funded status – net | 355 | 372 | 237 |
Accrued benefit costs | 23 | 13 | 9 |
Prepaid benefit costs (Note 18) | 378 | 385 | 246 |
Interest costs – net | (18) | (31) | |
Net periodic benefit costs (Note 5) | 314 | 251 | 238 |
Investment property [member] | Present value of defined benefit obligation [Member] | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Present value of defined benefit obligations at beginning of the year | 2,490 | 2,177 | 2,116 |
Service costs | 314 | 269 | 284 |
Interest costs on benefit obligation | 113 | 94 | |
Actuarial losses – economic assumptions | 29 | 1 | |
Actuarial gains – experience | (6) | (77) | |
Actual benefits paid/settlements | (92) | (226) | |
Curtailment and others | (15) | ||
Present value of defined benefit obligations at end of the year | 2,804 | 2,490 | 2,177 |
Investment property [member] | Plan assets [Member] | |||
Disclosure Of Fair Value Of Plan Assets [Line Items] | |||
Actual benefits paid/settlements | (92) | (226) | |
Fair value of plan assets at beginning of the year | 2,862 | 2,414 | 2,388 |
Actual contributions | 297 | 335 | 201 |
Interest income on plan assets | 131 | 125 | |
Return on plan assets (excluding amount included in net interest) | 74 | (74) | |
Fair value of plan assets at end of the year | ₱ 3,159 | ₱ 2,862 | ₱ 2,414 |
Employee Benefits - Summary _11
Employee Benefits - Summary of Expected Future Settlements of Defined Contribution Plans (Detail) ₱ in Millions | Dec. 31, 2018PHP (₱) |
Within 12 months [Member] | |
Disclosure Of Fair Value Of Plan Assets [Line Items] | |
Expected future settlements by Plan of maturing defined benefit obligation | ₱ 368 |
2020 [Member] | |
Disclosure Of Fair Value Of Plan Assets [Line Items] | |
Expected future settlements by Plan of maturing defined benefit obligation | 396 |
2021 [Member] | |
Disclosure Of Fair Value Of Plan Assets [Line Items] | |
Expected future settlements by Plan of maturing defined benefit obligation | 566 |
2022 [Member] | |
Disclosure Of Fair Value Of Plan Assets [Line Items] | |
Expected future settlements by Plan of maturing defined benefit obligation | 768 |
2023 [Member] | |
Disclosure Of Fair Value Of Plan Assets [Line Items] | |
Expected future settlements by Plan of maturing defined benefit obligation | 1,102 |
2024 to 2060 [Member] | |
Disclosure Of Fair Value Of Plan Assets [Line Items] | |
Expected future settlements by Plan of maturing defined benefit obligation | 105,007 |
Defined Contribution Plans [member] | Within 12 months [Member] | |
Disclosure Of Fair Value Of Plan Assets [Line Items] | |
Expected future settlements by Plan of maturing defined benefit obligation | 75 |
Defined Contribution Plans [member] | 2020 [Member] | |
Disclosure Of Fair Value Of Plan Assets [Line Items] | |
Expected future settlements by Plan of maturing defined benefit obligation | 160 |
Defined Contribution Plans [member] | 2021 [Member] | |
Disclosure Of Fair Value Of Plan Assets [Line Items] | |
Expected future settlements by Plan of maturing defined benefit obligation | 87 |
Defined Contribution Plans [member] | 2022 [Member] | |
Disclosure Of Fair Value Of Plan Assets [Line Items] | |
Expected future settlements by Plan of maturing defined benefit obligation | 114 |
Defined Contribution Plans [member] | 2023 [Member] | |
Disclosure Of Fair Value Of Plan Assets [Line Items] | |
Expected future settlements by Plan of maturing defined benefit obligation | 147 |
Defined Contribution Plans [member] | 2024 to 2060 [Member] | |
Disclosure Of Fair Value Of Plan Assets [Line Items] | |
Expected future settlements by Plan of maturing defined benefit obligation | ₱ 1,360 |
Employee Benefits - Summary _12
Employee Benefits - Summary of Allocation of Fair Value of Plan Assets of Defined Contribution Plans (Detail) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||
Investments in listed and unlisted equity securities | 95.00% | 95.00% |
Smart and Subsidiaries [Member] | ||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||
Investments in debt and fixed income securities and others | 77.00% | 70.00% |
Investments in listed and unlisted equity securities | 23.00% | 30.00% |
Percentage of investments in pension plan assets | 100.00% | 100.00% |
Provisions and Contingencies -
Provisions and Contingencies - Additional Information (Detail) ₱ in Thousands, shares in Millions | Dec. 20, 2018PHP (₱) | Jul. 03, 2017Worker | Jul. 23, 2014PHP (₱) | Dec. 31, 2018PHP (₱)shares | Dec. 31, 2016 | Jun. 10, 2013 |
Disclosure Of Contingent Liabilities [Line Items] | ||||||
Number voting preferred shares owned | shares | 150 | |||||
DOLE [Member] | ||||||
Disclosure Of Contingent Liabilities [Line Items] | ||||||
Number of workers order | Worker | 7,344 | |||||
Monetary liability | ₱ 51,800 | |||||
Top of range [member] | Eastern telecommunications philippines inc [Member] | ||||||
Disclosure Of Contingent Liabilities [Line Items] | ||||||
Maximum amount of arbitration of collating claims | 2,900,000 | |||||
Top of range [member] | P L D T | ||||||
Disclosure Of Contingent Liabilities [Line Items] | ||||||
Maximum amount of arbitration of collating claims | 2,800,000 | |||||
Digitel Mobile Philippines, Inc. [Member] | City Of Trece Martires [Member] | ||||||
Disclosure Of Contingent Liabilities [Line Items] | ||||||
Provision of ordinance imposing fee | 150 | |||||
A Ce S Philippines | ||||||
Disclosure Of Contingent Liabilities [Line Items] | ||||||
Deficiency basic withholding tax | ₱ 87,000 | |||||
Payment for compromise of tax liabilities | ₱ 27,000 | |||||
DMPI vs City of Cotabato [Member] | ||||||
Disclosure Of Contingent Liabilities [Line Items] | ||||||
Payments in respect of litigation settlements | ₱ 3,000 | |||||
Wilson Gamboa Case And Jose M Roy III Petition [Member] | Country of domicile [Member] | ||||||
Disclosure Of Contingent Liabilities [Line Items] | ||||||
Percentage of equity interest acquired | 60.00% | |||||
Wilson Gamboa Case And Jose M Roy III Petition [Member] | Country of domicile [Member] | Top of range [member] | ||||||
Disclosure Of Contingent Liabilities [Line Items] | ||||||
Percentage of equity interest acquired | 60.00% | |||||
Wilson Gamboa Case And Jose M Roy III Petition [Member] | Foreign countries [Member] | Bottom Of Range [Member] | ||||||
Disclosure Of Contingent Liabilities [Line Items] | ||||||
Percentage of equity interest acquired | 40.00% |
Financial Assets and Liabilit_3
Financial Assets and Liabilities - Summary of Consolidated Financial Assets and Financial Liabilities (Detail) - PHP (₱) | Dec. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Noncurrent Assets | |||||
Financial assets at fair value through profit or loss | ₱ 4,763,000,000 | ||||
Debt instruments at amortized cost (Note 12) | 150,000,000 | ₱ 0 | |||
Derivative financial assets – net of current portion (Note 27) | 140,000,000 | ₱ 215,000,000 | |||
Financial assets at fair value through other comprehensive income – net of current portion | 2,749,000,000 | ||||
Other financial assets – net of current portion (Note 27) | 2,275,000,000 | ||||
Available-for-sale financial investments (Notes 6 and 11) | 15,165,000,000 | ||||
Investment in debt securities and other long-term investments – net of current portion (Note 12) | 150,000,000 | 150,000,000 | |||
Advances and other noncurrent assets – net of current portion | 13,855,000,000 | ||||
Current Assets | |||||
Cash and cash equivalents (Note 15) | 51,654,000,000 | 32,905,000,000 | ₱ 38,722,000,000 | ₱ 46,455,000,000 | |
Short-term investments (Note 27) | 1,165,000,000 | 1,074,000,000 | |||
Trade and other receivables (Note 16) | 24,056,000,000 | 33,761,000,000 | |||
Current portion of derivative financial assets (Note 27) | 183,000,000 | 171,000,000 | |||
Current portion of financial assets at fair value through other comprehensive income | 1,604,000,000 | ||||
Current portion of other financial assets (Notes 19 and 27) | 7,008,000,000 | ||||
Total assets | 95,747,000,000 | 104,220,000,000 | |||
Current portion of investment in debt securities and other long-term investments (Note 12) | 100,000,000 | ||||
Current portion of advances and other noncurrent assets | 6,824,000,000 | ||||
Noncurrent Liabilities | |||||
Interest-bearing financial liabilities – net of current portion (Notes 20 and 27) | 155,835,000,000 | 157,654,000,000 | |||
Customers’ deposits (Note 27) | 2,194,000,000 | 2,443,000,000 | |||
Deferred credits and other noncurrent liabilities | 3,088,000,000 | 5,680,000,000 | |||
Derivative financial liabilities – net of current portion (Note 27) | 8,000,000 | ||||
Current Liabilities | |||||
Accounts payable | 72,818,000,000 | 58,490,000,000 | |||
Accrued expenses and other current liabilities | 76,782,000,000 | 70,648,000,000 | |||
Current portion of interest-bearing financial liabilities (Notes 20, 24 and 27) | 20,441,000,000 | 14,957,000,000 | |||
Dividends payable | 1,533,000,000 | 1,575,000,000 | |||
Current portion of derivative financial liabilities (Note 27) | 80,000,000 | 141,000,000 | |||
Total liabilities | 332,771,000,000 | 311,596,000,000 | |||
Net assets (liabilities) | (237,024,000,000) | (207,376,000,000) | |||
Financial liabilities carried at amortized cost [Member] | |||||
Noncurrent Liabilities | |||||
Interest-bearing financial liabilities – net of current portion (Notes 20 and 27) | 157,654,000,000 | ||||
Customers’ deposits (Note 27) | 2,443,000,000 | ||||
Deferred credits and other noncurrent liabilities | 5,680,000,000 | ||||
Current Liabilities | |||||
Accounts payable | 58,490,000,000 | ||||
Accrued expenses and other current liabilities | 70,648,000,000 | ||||
Current portion of interest-bearing financial liabilities (Notes 20, 24 and 27) | 14,957,000,000 | ||||
Dividends payable | 1,575,000,000 | ||||
Total liabilities | 311,447,000,000 | ||||
Net assets (liabilities) | (311,447,000,000) | ||||
Financial instruments at amortized cost [Member] | |||||
Noncurrent Assets | |||||
Debt instruments at amortized cost (Note 12) | 150,000,000 | ||||
Other financial assets – net of current portion (Note 27) | 2,275,000,000 | ||||
Current Assets | |||||
Cash and cash equivalents (Note 15) | 51,654,000,000 | ||||
Short-term investments (Note 27) | 1,165,000,000 | ||||
Trade and other receivables (Note 16) | 24,056,000,000 | ||||
Current portion of other financial assets (Notes 19 and 27) | 175,000,000 | ||||
Total assets | 79,475,000,000 | ||||
Noncurrent Liabilities | |||||
Interest-bearing financial liabilities – net of current portion (Notes 20 and 27) | 155,835,000,000 | ||||
Customers’ deposits (Note 27) | 2,194,000,000 | ||||
Deferred credits and other noncurrent liabilities | 3,088,000,000 | ||||
Current Liabilities | |||||
Accounts payable | 72,818,000,000 | ||||
Accrued expenses and other current liabilities | 68,920,000,000 | ||||
Current portion of interest-bearing financial liabilities (Notes 20, 24 and 27) | 20,441,000,000 | ||||
Dividends payable | 1,533,000,000 | ||||
Total liabilities | 324,829,000,000 | ||||
Net assets (liabilities) | (245,354,000,000) | ||||
Financial assets at fair value through profit or loss, category [member] | |||||
Noncurrent Assets | |||||
Financial assets at fair value through profit or loss | 4,763,000,000 | ||||
Derivative financial assets – net of current portion (Note 27) | 140,000,000 | ||||
Current Assets | |||||
Current portion of derivative financial assets (Note 27) | 183,000,000 | ||||
Current portion of other financial assets (Notes 19 and 27) | 6,833,000,000 | ||||
Total assets | 11,919,000,000 | ||||
Current Liabilities | |||||
Accrued expenses and other current liabilities | 7,862,000,000 | ||||
Current portion of derivative financial liabilities (Note 27) | 80,000,000 | 90,000,000 | |||
Total liabilities | 7,942,000,000 | 90,000,000 | |||
Net assets (liabilities) | 3,977,000,000 | (90,000,000) | |||
Financial assets at fair value through other comprehensive income, category [member] | |||||
Noncurrent Assets | |||||
Financial assets at fair value through other comprehensive income – net of current portion | 2,749,000,000 | ||||
Current Assets | |||||
Current portion of financial assets at fair value through other comprehensive income | 1,604,000,000 | ||||
Total assets | 4,353,000,000 | ||||
Current Liabilities | |||||
Net assets (liabilities) | ₱ 4,353,000,000 | ||||
Loans and receivables, category [member] | |||||
Noncurrent Assets | |||||
Advances and other noncurrent assets – net of current portion | 13,855,000,000 | ||||
Current Assets | |||||
Cash and cash equivalents (Note 15) | 32,905,000,000 | ||||
Short-term investments (Note 27) | 1,074,000,000 | ||||
Trade and other receivables (Note 16) | 33,761,000,000 | ||||
Total assets | 88,519,000,000 | ||||
Current portion of investment in debt securities and other long-term investments (Note 12) | 100,000,000 | ||||
Current portion of advances and other noncurrent assets | 6,824,000,000 | ||||
Current Liabilities | |||||
Net assets (liabilities) | 88,519,000,000 | ||||
HTM investments [Member] | |||||
Noncurrent Assets | |||||
Investment in debt securities and other long-term investments – net of current portion (Note 12) | 150,000,000 | ||||
Current Assets | |||||
Total assets | 150,000,000 | ||||
Current Liabilities | |||||
Net assets (liabilities) | 150,000,000 | ||||
Derivatives Used For Hedging | |||||
Noncurrent Assets | |||||
Derivative financial assets – net of current portion (Note 27) | 215,000,000 | ||||
Current Assets | |||||
Current portion of derivative financial assets (Note 27) | 171,000,000 | ||||
Total assets | 386,000,000 | ||||
Noncurrent Liabilities | |||||
Derivative financial liabilities – net of current portion (Note 27) | 8,000,000 | ||||
Current Liabilities | |||||
Current portion of derivative financial liabilities (Note 27) | 51,000,000 | ||||
Total liabilities | 59,000,000 | ||||
Net assets (liabilities) | 327,000,000 | ||||
Available-for-sale financial investments [Member] | |||||
Noncurrent Assets | |||||
Available-for-sale financial investments (Notes 6 and 11) | 15,165,000,000 | ||||
Current Assets | |||||
Total assets | 15,165,000,000 | ||||
Current Liabilities | |||||
Net assets (liabilities) | ₱ 15,165,000,000 |
Financial Assets and Liabilit_4
Financial Assets and Liabilities - Summary of Consolidated Offsetting of Financial Assets and Liabilities (Detail) - PHP (₱) ₱ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Current Financial Assets [Member] | Trade and Other Receivables [Member] | ||
Schedule of offsetting of financial assets and financial liabilities [line items] | ||
Gross amounts of recognized financial assets | ₱ 15,127 | ₱ 12,868 |
Gross amounts of recognized financial assets set-off in the statement of financial position | 11,628 | 6,907 |
Net amount presented in the statement of financial position | 3,499 | 5,961 |
Current Financial Assets [Member] | Trade and Other Receivables [Member] | Foreign administrations [Member] | ||
Schedule of offsetting of financial assets and financial liabilities [line items] | ||
Gross amounts of recognized financial assets | 6,882 | 8,536 |
Gross amounts of recognized financial assets set-off in the statement of financial position | 3,576 | 2,957 |
Net amount presented in the statement of financial position | 3,306 | 5,579 |
Current Financial Assets [Member] | Trade and Other Receivables [Member] | Domestic carriers [Member] | ||
Schedule of offsetting of financial assets and financial liabilities [line items] | ||
Gross amounts of recognized financial assets | 8,245 | 4,332 |
Gross amounts of recognized financial assets set-off in the statement of financial position | 8,052 | 3,950 |
Net amount presented in the statement of financial position | 193 | 382 |
Current Financial Liabilities [Member] | Accounts payable [Member] | ||
Schedule of offsetting of financial assets and financial liabilities [line items] | ||
Gross amounts of recognized financial liabilities | 74,746 | 61,646 |
Gross amounts of recognized financial liabilities set-off in the statement of financial position | 2,612 | 4,967 |
Net amount presented in the statement of financial position | 72,134 | 56,679 |
Current Financial Liabilities [Member] | Accounts payable [Member] | Suppliers and contractors [Member] | ||
Schedule of offsetting of financial assets and financial liabilities [line items] | ||
Gross amounts of recognized financial liabilities | 69,144 | 54,220 |
Gross amounts of recognized financial liabilities set-off in the statement of financial position | 45 | 24 |
Net amount presented in the statement of financial position | 69,099 | 54,196 |
Current Financial Liabilities [Member] | Accounts payable [Member] | Carriers and other customers [Member] | ||
Schedule of offsetting of financial assets and financial liabilities [line items] | ||
Gross amounts of recognized financial liabilities | 5,602 | 7,426 |
Gross amounts of recognized financial liabilities set-off in the statement of financial position | 2,567 | 4,943 |
Net amount presented in the statement of financial position | ₱ 3,035 | ₱ 2,483 |
Financial Assets and Liabilit_5
Financial Assets and Liabilities - Additional Information (Detail) | Mar. 20, 2019PHP (₱) | Mar. 20, 2019USD ($) | Aug. 02, 2016 | Aug. 05, 2014 | Dec. 31, 2018PHP (₱) | Dec. 31, 2018PHP (₱) | Dec. 31, 2018PHP (₱) | Dec. 31, 2018PHP (₱)USD ($) | Dec. 31, 2017PHP (₱) | Dec. 31, 2017PHP (₱) | Dec. 31, 2017PHP (₱)USD ($) | Dec. 31, 2016PHP (₱) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2015PHP (₱) |
Disclosure Of Financial Liabilities [Line Items] | |||||||||||||||
Financial instruments subject to enforceable master netting arrangement | ₱ 0 | ₱ 0 | ₱ 0 | ₱ 0 | ₱ 0 | ₱ 0 | ₱ 0 | ||||||||
Transfers into of Level 3 of fair value hierarchy, investment properties | 0 | 0 | |||||||||||||
Transfers out of Level 3 of fair value hierarchy, investment properties | 0 | 0 | |||||||||||||
Financial liabilities fair value transfer into Level 3 | 0 | 0 | |||||||||||||
Financial liabilities fair value transfer out of Level 3 | 0 | 0 | |||||||||||||
Transfer of financial assets fair value from Level 1 to Level 2 | 0 | 0 | |||||||||||||
Transfer of financial assets fair value from Level 2 to Level 1 | 0 | 0 | |||||||||||||
Transfer of financial liabilities fair value from Level 1 to Level 2 | 0 | 0 | |||||||||||||
Transfer of financial liabilities fair value from Level 2 to Level 1 | 0 | 0 | |||||||||||||
Cash and cash equivalents | 51,654,000,000 | 51,654,000,000 | 51,654,000,000 | 51,654,000,000 | 32,905,000,000 | 32,905,000,000 | 32,905,000,000 | ₱ 38,722,000,000 | ₱ 46,455,000,000 | ||||||
Short-term investments | ₱ 1,165,000,000 | 1,165,000,000 | ₱ 1,165,000,000 | ₱ 1,165,000,000 | 1,074,000,000 | ₱ 1,074,000,000 | ₱ 1,074,000,000 | ||||||||
Exchange rate | 52.56 | ||||||||||||||
Increase in consolidated foreign currency-denominated financial liabilities | 9,000,000 | ||||||||||||||
Foreign exchange losses | 771,000,000 | 411,000,000 | ₱ 2,785,000,000 | ||||||||||||
Percentage of decrease or decrease in value of currency | 1.21% | ||||||||||||||
Weighted Average Foreign Exchange Rate | 52.56 | ||||||||||||||
Foreign exchange gain (loss ) after tax | 2,000,000 | ||||||||||||||
Net foreign exchange gain /loss | 12,000,000 | ||||||||||||||
Decrease in consolidated variable rate debt | ₱ 36,575,000,000 | ₱ 40,353,000,000 | |||||||||||||
Decrease in dividend payout | 60.00% | ||||||||||||||
Floating interest rate [member] | |||||||||||||||
Disclosure Of Financial Liabilities [Line Items] | |||||||||||||||
Percentage of consolidated debts with variable rates | 21.00% | 21.00% | 21.00% | 21.00% | 23.00% | 23.00% | 23.00% | 21.00% | 23.00% | ||||||
Fixed interest rate [member] | |||||||||||||||
Disclosure Of Financial Liabilities [Line Items] | |||||||||||||||
Percentage of consolidated debts with fixed rate | 89.00% | 89.00% | 89.00% | 89.00% | 92.00% | 92.00% | 92.00% | 89.00% | 92.00% | ||||||
Foreign currency exchange risk [Member] | |||||||||||||||
Disclosure Of Financial Liabilities [Line Items] | |||||||||||||||
Exchange rate | 52.56 | 52.56 | 1 | 49.96 | 49.96 | 1 | |||||||||
Percentage of consolidated debts | 13.00% | 20.00% | |||||||||||||
Decrease in consolidated foreign currency-denominated debt | ₱ 23,352,000,000 | ₱ 23,352,000,000 | ₱ 23,352,000,000 | ₱ 23,352,000,000 | ₱ 35,032,000,000 | ₱ 35,032,000,000 | ₱ 35,032,000,000 | ||||||||
Percentage of consolidated debts unhedged | 12.00% | 12.00% | 12.00% | 12.00% | 16.00% | 16.00% | 16.00% | 12.00% | 16.00% | ||||||
Percentage of consolidated debts unhedged net of cash allocated for debt | 8.00% | 8.00% | 8.00% | 8.00% | 8.00% | 8.00% | 8.00% | 8.00% | 8.00% | ||||||
Percentage of consolidated revenues denominated in U.S. dollars | 16.00% | 16.00% | 16.00% | 16.00% | 16.00% | 16.00% | 16.00% | 16.00% | 16.00% | ||||||
Percentage of consolidated expenses denominated in U.S. dollars | 8.00% | 8.00% | 8.00% | 8.00% | 8.00% | 8.00% | 8.00% | 8.00% | 8.00% | ||||||
Reduction in value of currency | 5.20% | 5.20% | 5.20% | 5.20% | 5.20% | ||||||||||
Weighted Average Foreign Exchange Rate | 52.56 | 52.56 | 1 | 49.96 | 49.96 | 1 | |||||||||
Currency Swap Contract [Member] | Foreign currency exchange risk [Member] | |||||||||||||||
Disclosure Of Financial Liabilities [Line Items] | |||||||||||||||
Long-term principal only currency swap | $ | $ 46,000,000 | $ 90,000,000 | |||||||||||||
Interest rate swap contract [member] | |||||||||||||||
Disclosure Of Financial Liabilities [Line Items] | |||||||||||||||
Long-term principal only currency swap | ₱ 323,000,000 | ₱ 323,000,000 | ₱ 323,000,000 | ₱ 323,000,000 | ₱ 525,000,000 | ₱ 525,000,000 | ₱ 525,000,000 | ||||||||
Events After Reporting Period | |||||||||||||||
Disclosure Of Financial Liabilities [Line Items] | |||||||||||||||
Exchange rate | 52.89 | 1 | |||||||||||||
Weighted Average Foreign Exchange Rate | 52.89 | 1 | |||||||||||||
Bottom Of Range [Member] | |||||||||||||||
Disclosure Of Financial Liabilities [Line Items] | |||||||||||||||
Dividend Pay Out Rate | 70.00% | ||||||||||||||
Top of range [member] | |||||||||||||||
Disclosure Of Financial Liabilities [Line Items] | |||||||||||||||
Dividend Pay Out Rate | 75.00% | ||||||||||||||
Operating lease obligations [Member] | Bottom Of Range [Member] | |||||||||||||||
Disclosure Of Financial Liabilities [Line Items] | |||||||||||||||
Lease contracts for periods | 1 year | ||||||||||||||
Operating lease obligations [Member] | Top of range [member] | |||||||||||||||
Disclosure Of Financial Liabilities [Line Items] | |||||||||||||||
Lease contracts for periods | 10 years | ||||||||||||||
Other obligations [Member] | |||||||||||||||
Disclosure Of Financial Liabilities [Line Items] | |||||||||||||||
Various Trade and Other Obligations | ₱ 145,892,000,000 | 145,892,000,000 | 145,892,000,000 | 145,892,000,000 | 128,618,000,000 | 128,618,000,000 | 128,618,000,000 | ||||||||
Letters of credit [Member] | Within 12 months [Member] | |||||||||||||||
Disclosure Of Financial Liabilities [Line Items] | |||||||||||||||
Outstanding consolidated commercial commitments | ₱ 20,000,000 | 20,000,000 | ₱ 20,000,000 | ₱ 20,000,000 | ₱ 88,000,000 | ₱ 88,000,000 | ₱ 88,000,000 | ||||||||
Foreign currency exchange risk [Member] | |||||||||||||||
Disclosure Of Financial Liabilities [Line Items] | |||||||||||||||
Interest rate | 45 | ||||||||||||||
Percentage of exchange rate weaken/strengthen | 55.00% | ||||||||||||||
Foreign currency exchange risk [Member] | U.S. Dollars [Member] | |||||||||||||||
Disclosure Of Financial Liabilities [Line Items] | |||||||||||||||
Net foreign exchange gain /loss | 39,000,000 | ||||||||||||||
Interest rate | 45 | ||||||||||||||
Increase decrease in profit after tax | 10,000,000 | ||||||||||||||
Foreign currency exchange risk [Member] | Philippine Peso [Member] | |||||||||||||||
Disclosure Of Financial Liabilities [Line Items] | |||||||||||||||
Net foreign exchange gain /loss | 8,000 | ||||||||||||||
Interest rate | 55 | ||||||||||||||
Increase decrease in profit after tax | ₱ 13,000,000 |
Financial Assets and Liabilit_6
Financial Assets and Liabilities - Summary of Consolidated Carrying Values and Fair Values of Financial Assets and Liabilities (Detail) - PHP (₱) | Dec. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 |
Noncurrent Financial Assets | |||
Debt instruments at amortized cost (Note 12) | ₱ 150,000,000 | ₱ 0 | |
Investment in debt securities and other long-term investments – net of current portion (Note 12) | 150,000,000 | ₱ 150,000,000 | |
Other financial assets – net of current portion (Note 27) | 2,275,000,000 | ||
Advances and other noncurrent assets – net of current portion | 13,855,000,000 | ||
Total | 2,168,000,000 | 13,846,000,000 | |
Noncurrent Financial Liabilities | |||
Long-term debt – net of current portion | 155,835,000,000 | 157,654,000,000 | |
Customers’ deposits (Note 27) | 2,194,000,000 | 2,443,000,000 | |
Total | 143,392,000,000 | 157,711,000,000 | |
Carrying Value [Member] | |||
Noncurrent Financial Assets | |||
Debt instruments at amortized cost (Note 12) | 150,000,000 | ||
Investment in debt securities and other long-term investments – net of current portion (Note 12) | 150,000,000 | ||
Other financial assets – net of current portion (Note 27) | 2,275,000,000 | ||
Advances and other noncurrent assets – net of current portion | 13,855,000,000 | ||
Total | 2,425,000,000 | 14,005,000,000 | |
Noncurrent Financial Liabilities | |||
Long-term debt – net of current portion | 155,835,000,000 | 157,654,000,000 | |
Customers’ deposits (Note 27) | 2,194,000,000 | 2,443,000,000 | |
Deferred credits and other noncurrent liabilities | 3,088,000,000 | 5,680,000,000 | |
Total | 161,117,000,000 | 165,777,000,000 | |
Fair Value [Member] | |||
Noncurrent Financial Assets | |||
Debt instruments at amortized cost (Note 12) | 148,000,000 | ||
Investment in debt securities and other long-term investments – net of current portion (Note 12) | 151,000,000 | ||
Other financial assets – net of current portion (Note 27) | 2,020,000,000 | ||
Advances and other noncurrent assets – net of current portion | 13,695,000,000 | ||
Total | 2,168,000,000 | 13,846,000,000 | |
Noncurrent Financial Liabilities | |||
Long-term debt – net of current portion | 139,504,000,000 | 150,918,000,000 | |
Customers’ deposits (Note 27) | 1,305,000,000 | 1,700,000,000 | |
Deferred credits and other noncurrent liabilities | 2,583,000,000 | 5,093,000,000 | |
Total | ₱ 143,392,000,000 | ₱ 157,711,000,000 |
Financial Assets and Liabilit_7
Financial Assets and Liabilities - Summary of Consolidated Financial Assets and Liabilities Carried at Fair Value (Detail) - PHP (₱) ₱ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Noncurrent Financial Assets | ||
Derivative financial assets – net of current portion | ₱ 140 | ₱ 215 |
Current Financial Assets | ||
Current portion of derivative financial assets | 183 | 171 |
Current portion of financial assets at fair value through other comprehensive income | 1,604 | |
Current portion of other financial assets (Notes 19 and 27) | 7,008 | |
Total assets | 95,747 | 104,220 |
Noncurrent Financial Liabilities | ||
Derivative financial liabilities – net of current portion | 8 | |
Current Financial Liabilities | ||
Current portion of derivative financial liabilities | 80 | 141 |
Total liabilities | 332,771 | 311,596 |
Fair Value [Member] | ||
Noncurrent Financial Assets | ||
Financial assets at FVPL | 4,763 | |
Available-for-sale financial investments | 15,165 | |
Derivative financial assets – net of current portion | 140 | 215 |
Financial assets at FVOCI – net of current portion | 2,749 | |
Current Financial Assets | ||
Current portion of derivative financial assets | 183 | 170 |
Current portion of financial assets at fair value through other comprehensive income | 1,604 | |
Current portion of other financial assets (Notes 19 and 27) | 6,833 | |
Total assets | 16,272 | 15,550 |
Noncurrent Financial Liabilities | ||
Derivative financial liabilities – net of current portion | 8 | |
Current Financial Liabilities | ||
Current portion of derivative financial liabilities | 80 | 141 |
Accrued expenses and other current liabilities | 7,862 | |
Total liabilities | 7,942 | 149 |
Level 1 [Member] | Fair Value [Member] | ||
Noncurrent Financial Assets | ||
Financial assets at FVPL | 3,625 | |
Available-for-sale financial investments | 12,848 | |
Current Financial Assets | ||
Total assets | 3,625 | 12,848 |
Level 2 [Member] | Fair Value [Member] | ||
Noncurrent Financial Assets | ||
Financial assets at FVPL | 154 | |
Available-for-sale financial investments | 130 | |
Derivative financial assets – net of current portion | 140 | 215 |
Financial assets at FVOCI – net of current portion | 2,749 | |
Current Financial Assets | ||
Current portion of derivative financial assets | 183 | 170 |
Current portion of financial assets at fair value through other comprehensive income | 1,604 | |
Current portion of other financial assets (Notes 19 and 27) | 6,833 | |
Total assets | 11,663 | 515 |
Noncurrent Financial Liabilities | ||
Derivative financial liabilities – net of current portion | 8 | |
Current Financial Liabilities | ||
Current portion of derivative financial liabilities | 80 | 141 |
Accrued expenses and other current liabilities | 7,862 | |
Total liabilities | 7,942 | 149 |
Level 3 [Member] | Fair Value [Member] | ||
Noncurrent Financial Assets | ||
Financial assets at FVPL | 984 | |
Available-for-sale financial investments | 2,187 | |
Current Financial Assets | ||
Total assets | ₱ 984 | ₱ 2,187 |
Financial Assets and Liabilit_8
Financial Assets and Liabilities - Summary of Derivative Financial Instruments (Detail) - PHP (₱) ₱ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of detailed information about financial instruments [Line Items] | ||
Weighted Average Foreign Exchange Rate | 52.56 | |
Transactions Designated As Hedges | Smart [Member] | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Net Mark-to-Market Gains (Losses) | ₱ 237 | |
Transactions Designated As Hedges | Long Term Currency Swaps [Member] | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Net Mark-to-Market Gains (Losses) | ₱ 50 | 124 |
Transactions Designated As Hedges | Long Term Currency Swaps [Member] | Smart [Member] | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Net Mark-to-Market Gains (Losses) | 327 | |
Weighted average [Member] | Transactions Designated As Hedges | Smart [Member] | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Net Mark-to-Market Gains (Losses) | 243 | |
Weighted average [Member] | Transactions Designated As Hedges | Long Term Currency Swaps [Member] | Smart [Member] | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Net Mark-to-Market Gains (Losses) | 303 | |
Termination date march six two thousand seventeen [Member] | Three hundred notes two thousand seventeen [Member] | Two thousand one and two thousand two [member] | Transactions Not Designated As Hedges [Member] | Long Term Currency Swaps [Member] | P L D T | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Original Notional Amount | ₱ 262 | |
Trade Date | 2001 and 2002 | |
Underlying Transaction | 300 Notes 2017 | |
Termination Date | March 6, 2017 | |
Weighted Average Hedge Cost | 3.42% | |
Weighted Average Foreign Exchange Rate | 49.85 | |
Termination date various dates in two thousand seventeen [Member] | US Dollar Liabilities [Member] | Various dates in two thousand seventeen [Member] | Transactions Not Designated As Hedges [Member] | Forward Foreign Exchange Contracts [Member] | P L D T | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Original Notional Amount | ₱ 34 | |
Trade Date | Various dates in 2017 | |
Underlying Transaction | U.S. dollar liabilities | |
Termination Date | Various dates in 2017 | |
Weighted Average Foreign Exchange Rate | 50.18 | |
Termination date various dates in two thousand eighteen [Member] | US Dollar Liabilities [Member] | Various dates in two thousand seventeen [Member] | Transactions Not Designated As Hedges [Member] | Forward Foreign Exchange Contracts [Member] | P L D T | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Original Notional Amount | ₱ 56 | |
Trade Date | Various dates in 2017 | |
Underlying Transaction | U.S. dollar liabilities | |
Termination Date | Various dates in 2018 | |
Weighted Average Foreign Exchange Rate | 50.77 | |
Notional amount | 56 | |
Net Mark-to-Market Gains (Losses) | (39) | |
Termination date various dates in two thousand eighteen [Member] | US Dollar Liabilities [Member] | Various dates in two thousand eighteen [Member] | Transactions Not Designated As Hedges [Member] | Forward Foreign Exchange Contracts [Member] | P L D T | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Original Notional Amount | ₱ 58 | |
Trade Date | Various dates in 2018 | |
Underlying Transaction | U.S. dollar liabilities | |
Termination Date | Various dates in 2018 | |
Weighted Average Foreign Exchange Rate | 52.56 | |
Termination date various dates in two thousand eighteen [Member] | US Dollar Liabilities [Member] | Various Dates In Two Thousand Seventeen And Two Thousand Eighteen | Transactions Not Designated As Hedges [Member] | Forward Foreign Exchange Contracts [Member] | P L D T | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Original Notional Amount | ₱ 120 | |
Trade Date | Various dates in 2017 and 2018 | |
Underlying Transaction | U.S. dollar liabilities | |
Termination Date | Various dates in 2018 | |
Weighted Average Foreign Exchange Rate | 52.13 | |
Notional amount | 46 | |
Net Mark-to-Market Gains (Losses) | (49) | |
Termination date various dates in two thousand eighteen [Member] | US Dollar Liabilities [Member] | Various Dates In Two Thousand Seventeen And Two Thousand Eighteen | Transactions Not Designated As Hedges [Member] | Foreign Exchange Options | P L D T | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Original Notional Amount | ₱ 4 | |
Trade Date | Various dates in 2017 and 2018 | |
Underlying Transaction | U.S. dollar liabilities | |
Termination Date | Various dates in 2018 | |
Weighted Average Foreign Exchange Rate | 50.64 | |
Notional amount | 3 | |
Net Mark-to-Market Gains (Losses) | (2) | |
Termination date various dates in january two thousand nineteen and february two thousand nineteen [Member] | US Dollar Liabilities [Member] | Various dates in two thousand eighteen [Member] | Transactions Not Designated As Hedges [Member] | Forward Foreign Exchange Contracts [Member] | P L D T | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Original Notional Amount | ₱ 77 | |
Trade Date | Various dates in 2018 and 2019 | |
Underlying Transaction | U.S. dollar liabilities | |
Termination Date | Various dates in January 2019 to July 2019 | |
Weighted Average Foreign Exchange Rate | 52.98 | |
Notional amount | ₱ 34 | |
Termination date various dates in january two thousand nineteen and february two thousand nineteen [Member] | US Dollar Liabilities [Member] | Weighted average [Member] | Various dates in two thousand eighteen [Member] | Transactions Not Designated As Hedges [Member] | Forward Foreign Exchange Contracts [Member] | P L D T | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Net Mark-to-Market Gains (Losses) | (22) | |
Termination date various dates in december fourteen two thousand eighteen [Member] | EUR Assets [Member] | Various dates in two thousand eighteen [Member] | Transactions Not Designated As Hedges [Member] | Forward Foreign Exchange Contracts [Member] | P L D T | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Original Notional Amount | ₱ 11 | |
Trade Date | Various dates in 2018 | |
Underlying Transaction | EUR assets | |
Termination Date | December 14, 2018 | |
Weighted Average Foreign Exchange Rate | 62.95 | |
Termination date various dates in december fourteen two thousand eighteen [Member] | EUR Assets [Member] | Various dates in august two thousand eighteen [Member] | Transactions Not Designated As Hedges [Member] | Forward Foreign Exchange Contracts [Member] | P L D T | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Original Notional Amount | ₱ 9 | |
Trade Date | Various dates in August 2018 | |
Underlying Transaction | EUR assets | |
Termination Date | December 14, 2018 | |
Weighted Average Foreign Exchange Rate | 1.17 | |
Termination Date Various Dates In November Two Thousand Eighteen And December Two Thousand And Eighteen | EUR Assets [Member] | Various dates in two thousand eighteen [Member] | Transactions Not Designated As Hedges [Member] | Foreign Exchange Options | P L D T | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Original Notional Amount | ₱ 36 | |
Trade Date | Various dates in 2018 | |
Underlying Transaction | EUR assets | |
Termination Date | Various dates in November 2018 and December 2018 | |
Weighted Average Foreign Exchange Rate | 1.161 | |
Termination Date Various Dates In Two Thousand And Seventeen | US Dollar Liabilities [Member] | Various Dates In Two Thousand Sixteen And Two Thousand Seventeen | Transactions Not Designated As Hedges [Member] | Forward Foreign Exchange Contracts [Member] | P L D T | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Original Notional Amount | ₱ 91 | |
Trade Date | Various dates in 2016 and 2017 | |
Underlying Transaction | U.S. dollar liabilities | |
Termination Date | Various dates in 2017 | |
Weighted Average Foreign Exchange Rate | 49.54 | |
Termination Date Various Dates In Two Thousand And Seventeen | US Dollar Liabilities [Member] | Various Dates In Two Thousand Sixteen And Two Thousand Seventeen | Transactions Not Designated As Hedges [Member] | Foreign Exchange Options | P L D T | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Original Notional Amount | ₱ 59 | |
Trade Date | Various dates in 2016 and 2017 | |
Underlying Transaction | U.S. dollar liabilities | |
Termination Date | Various dates in 2017 | |
Weighted Average Foreign Exchange Rate | 49.60 | |
Termination Date Various Dates In Two Thousand Nineteen | US Dollar Liabilities [Member] | Various Dates In Two Thousand Seventeen And Two Thousand Eighteen | Transactions Not Designated As Hedges [Member] | Forward Foreign Exchange Contracts [Member] | P L D T | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Original Notional Amount | ₱ 54 | |
Trade Date | Various dates in 2017 and 2018 | |
Underlying Transaction | U.S. dollar liabilities | |
Termination Date | Various dates in 2019 | |
Weighted Average Foreign Exchange Rate | 53.58 | |
Notional amount | ₱ 54 | |
Termination Date Various Dates In Two Thousand Nineteen | US Dollar Liabilities [Member] | January To March Two Thousand Nineteen | Transactions Not Designated As Hedges [Member] | Forward Foreign Exchange Contracts [Member] | P L D T | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Original Notional Amount | ₱ 28 | |
Trade Date | January to March 2019 | |
Underlying Transaction | U.S. dollar liabilities | |
Termination Date | Various dates in 2019 | |
Weighted Average Foreign Exchange Rate | 52.48 | |
Termination Date Various Dates In Two Thousand Nineteen | US Dollar Liabilities [Member] | Weighted average [Member] | Various Dates In Two Thousand Seventeen And Two Thousand Eighteen | Transactions Not Designated As Hedges [Member] | Forward Foreign Exchange Contracts [Member] | P L D T | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Net Mark-to-Market Gains (Losses) | ₱ (38) | |
Termination Date March Thirty One Two Thousand Seventeen | Fifty Nine Loan Facility | October Seven Two Thousand Eight | Transactions Not Designated As Hedges [Member] | Interest Rate Swap1 | P L D T | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Original Notional Amount | ₱ 54 | |
Trade Date | October 7, 2008 | |
Underlying Transaction | 59 loan facility | |
Termination Date | March 31, 2017 | |
Weighted Average Hedge Cost | 3.88% | |
Termination Date June Thirty Two Thousand Seventeen | Fifty One Loan Facility | October Seven Two Thousand Eight | Transactions Not Designated As Hedges [Member] | Interest Rate Swap1 | P L D T | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Original Notional Amount | ₱ 47 | |
Trade Date | October 7, 2008 | |
Underlying Transaction | 51 loan facility | |
Termination Date | June 30, 2017 | |
Weighted Average Hedge Cost | 3.97% | |
Net Mark-to-Market Gains (Losses) | (90) | |
Termination Date June Thirty Two Thousand Seventeen | Fifty One Loan Facility | Weighted average [Member] | October Seven Two Thousand Eight | Transactions Not Designated As Hedges [Member] | Interest Rate Swap1 | P L D T | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Net Mark-to-Market Gains (Losses) | ₱ (60) | |
Termination Date March Seven Two Thousand Seventeen Member [Member] | One Hundred Fifty Term Loan Member [Member] | January Twenty Three Two Thousand Fifteen Member [Member] | Transactions Designated As Hedges | Interest Rate Swap1 | P L D T | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Original Notional Amount | ₱ 30 | |
Trade Date | January 23, 2015 | |
Underlying Transaction | 150 term loan | |
Termination Date | March 7, 2017 | |
Weighted Average Hedge Cost | 2.11% | |
Termination Date January Sixteen Two Thousand Eighteen Member [Member] | Three Hundred Term Loan Member [Member] | Various Dates In Two Thousand Thirteen And Two Thousand Fifteen | Transactions Designated As Hedges | Interest Rate Swap1 | P L D T | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Original Notional Amount | ₱ 240 | |
Trade Date | Various dates in 2013 and 2015 | |
Underlying Transaction | 300 term loan | |
Termination Date | January 16, 2018 | |
Weighted Average Hedge Cost | 2.17% | |
Notional amount | 33 | |
Net Mark-to-Market Gains (Losses) | 2 | |
Termination Date January Sixteen Two Thousand Eighteen Member [Member] | Three Hundred Term Loan Member [Member] | October Two Thousand Fifteen To June Two Thousand Sixteen Member [Member] | Transactions Designated As Hedges | Long Term Currency Swaps [Member] | P L D T | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Original Notional Amount | ₱ 140 | |
Trade Date | October 2015 to June 2016 | |
Underlying Transaction | 300 term loan | |
Termination Date | January 16, 2018 | |
Weighted Average Hedge Cost | 2.20% | |
Weighted Average Foreign Exchange Rate | 46.67 | |
Notional amount | 31 | |
Net Mark-to-Market Gains (Losses) | 88 | |
Termination Date August Eleven Two Thousand Twenty Member [Member] | Hundred PNB [Member] | August Two Thousands Fourteen Member [Member] | Transactions Designated As Hedges | Interest Rate Swap1 | P L D T | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Original Notional Amount | ₱ 100 | |
Trade Date | August 2014 | |
Underlying Transaction | 100 PNB | |
Termination Date | August 11, 2020 | |
Weighted Average Hedge Cost | 3.46% | |
Notional amount | ₱ 96 | 97 |
Net Mark-to-Market Gains (Losses) | 5 | |
Termination Date August Eleven Two Thousand Twenty Member [Member] | Hundred PNB [Member] | January Two Thousand Seventeen Member [Member] | Transactions Designated As Hedges | Long Term Currency Swaps [Member] | P L D T | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Original Notional Amount | ₱ 4 | |
Trade Date | January 2017 | |
Underlying Transaction | 100 PNB | |
Termination Date | August 11, 2020 | |
Weighted Average Hedge Cost | 1.01% | |
Weighted Average Foreign Exchange Rate | 49.79 | |
Notional amount | ₱ 2 | 3 |
Net Mark-to-Market Gains (Losses) | 2 | |
Termination Date August Eleven Two Thousand Twenty Member [Member] | Hundred PNB [Member] | Weighted average [Member] | August Two Thousands Fourteen Member [Member] | Transactions Designated As Hedges | Interest Rate Swap1 | P L D T | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Net Mark-to-Market Gains (Losses) | 55 | |
Termination Date August Eleven Two Thousand Twenty Member [Member] | Hundred PNB [Member] | Weighted average [Member] | January Two Thousand Seventeen Member [Member] | Transactions Designated As Hedges | Long Term Currency Swaps [Member] | P L D T | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Net Mark-to-Market Gains (Losses) | 7 | |
Termination Date September Two Two Thousand Twenty Member [Member] | Fifty Metro Bank Member [Member] | September Two Thousand Fourteen Member [Member] | Transactions Designated As Hedges | Interest Rate Swap1 | P L D T | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Original Notional Amount | ₱ 50 | |
Trade Date | September 2014 | |
Underlying Transaction | 50 Metrobank | |
Termination Date | September 2, 2020 | |
Weighted Average Hedge Cost | 3.47% | |
Notional amount | ₱ 48 | 49 |
Termination Date September Two Two Thousand Twenty Member [Member] | Fifty Metro Bank Member [Member] | Weighted average [Member] | September Two Thousand Fourteen Member [Member] | Transactions Designated As Hedges | Interest Rate Swap1 | P L D T | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Net Mark-to-Market Gains (Losses) | 25 | |
Termination Date February Twenty Five Two Thousand And Twenty Two [Member] | Two Hundred Term Loan Member [Member] | April And June Two Thousands Fifteen Member [Member] | Transactions Designated As Hedges | Interest Rate Swap1 | P L D T | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Original Notional Amount | ₱ 150 | |
Trade Date | April and June 2015 | |
Underlying Transaction | 200 term loan | |
Termination Date | February 25, 2022 | |
Weighted Average Hedge Cost | 2.70% | |
Notional amount | ₱ 79 | 150 |
Net Mark-to-Market Gains (Losses) | 26 | |
Termination Date February Twenty Five Two Thousand And Twenty Two [Member] | Two Hundred Term Loan Member [Member] | Weighted average [Member] | April And June Two Thousands Fifteen Member [Member] | Transactions Designated As Hedges | Interest Rate Swap1 | P L D T | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Net Mark-to-Market Gains (Losses) | 66 | |
Termination Date February Twenty Five Two Thousand And Twenty Two [Member] | Two Hundred MUFG Bank Ltd [Member] | February Two Thousand Nineteen | Transactions Designated As Hedges | Long Term Currency Swaps [Member] | P L D T | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Original Notional Amount | ₱ 9 | |
Trade Date | February 2019 | |
Underlying Transaction | 200 MUFG Bank, Ltd. | |
Termination Date | February 25, 2022 | |
Weighted Average Hedge Cost | 2.23% | |
Weighted Average Foreign Exchange Rate | 51.88 | |
Termination Date August Twenty Six Two Thousand Nineteen Member [Member] | Two Hundred MUFG Bank Ltd [Member] | April And June Two Thousands Seventeen [Member] | Transactions Designated As Hedges | Long Term Currency Swaps [Member] | P L D T | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Original Notional Amount | ₱ 6 | |
Trade Date | April and June 2017 | |
Underlying Transaction | 200 MUFG Bank, Ltd. | |
Termination Date | August 26, 2019 | |
Weighted Average Hedge Cost | 1.63% | |
Weighted Average Foreign Exchange Rate | 49.51 | |
Notional amount | ₱ 3 | 6 |
Termination Date August Twenty Six Two Thousand Nineteen Member [Member] | Two Hundred MUFG Bank Ltd [Member] | January Two Thousand Eighteen [Member] | Transactions Designated As Hedges | Long Term Currency Swaps [Member] | P L D T | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Original Notional Amount | ₱ 2 | |
Trade Date | January 2018 | |
Underlying Transaction | 200 MUFG Bank, Ltd. | |
Termination Date | August 26, 2019 | |
Weighted Average Hedge Cost | 1.59% | |
Weighted Average Foreign Exchange Rate | 49.86 | |
Notional amount | ₱ 1 | |
Termination Date August Twenty Six Two Thousand Nineteen Member [Member] | Two Hundred MUFG Bank Ltd [Member] | Weighted average [Member] | April And June Two Thousands Seventeen [Member] | Transactions Designated As Hedges | Long Term Currency Swaps [Member] | P L D T | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Net Mark-to-Market Gains (Losses) | 9 | |
Termination Date August Twenty Six Two Thousand Nineteen Member [Member] | Two Hundred MUFG Bank Ltd [Member] | Weighted average [Member] | January Two Thousand Eighteen [Member] | Transactions Designated As Hedges | Long Term Currency Swaps [Member] | P L D T | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Net Mark-to-Market Gains (Losses) | 3 | |
Termination Date February Twenty Six Two Thousand And Twenty [Member] | Two Hundred MUFG Bank Ltd [Member] | February Two Thousand Eighteen [Member] | Transactions Designated As Hedges | Long Term Currency Swaps [Member] | P L D T | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Original Notional Amount | ₱ 6 | |
Trade Date | February 2018 | |
Underlying Transaction | 200 MUFG Bank, Ltd. | |
Termination Date | February 26, 2020 | |
Weighted Average Hedge Cost | 1.82% | |
Weighted Average Foreign Exchange Rate | 51.27 | |
Notional amount | ₱ 5 | |
Termination Date February Twenty Six Two Thousand And Twenty [Member] | Two Hundred MUFG Bank Ltd [Member] | Weighted average [Member] | February Two Thousand Eighteen [Member] | Transactions Designated As Hedges | Long Term Currency Swaps [Member] | P L D T | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Net Mark-to-Market Gains (Losses) | 6 | |
Termination Date February Twenty Five Two Thousand And Twenty Two [Member] | Two Hundred MUFG Bank Ltd [Member] | November and December Two Thousand Eighteen [Member] | Transactions Designated As Hedges | Long Term Currency Swaps [Member] | P L D T | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Original Notional Amount | ₱ 11 | |
Trade Date | November and December 2018 | |
Underlying Transaction | 200 MUFG Bank, Ltd. | |
Termination Date | February 25, 2022 | |
Weighted Average Hedge Cost | 2.32% | |
Weighted Average Foreign Exchange Rate | 52.36 | |
Notional amount | ₱ 11 | |
Termination Date February Twenty Five Two Thousand And Twenty Two [Member] | Two Hundred MUFG Bank Ltd [Member] | Weighted average [Member] | November and December Two Thousand Eighteen [Member] | Transactions Designated As Hedges | Long Term Currency Swaps [Member] | P L D T | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Net Mark-to-Market Gains (Losses) | 17 | |
Termination Date May Thirty Two Thousand Seventeen [Member] | Fifty Bank Of Tokyo [Member] | May Sixteen Two Thousand Thirteen [Member] | Transactions Designated As Hedges | Interest Rate Swap1 | Smart [Member] | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Original Notional Amount | ₱ 44 | |
Trade Date | May 16, 2013 | |
Underlying Transaction | 50 Bank of Tokyo | |
Termination Date | May 30, 2017 | |
Weighted Average Hedge Cost | 1.77% | |
Termination Date June Twenty Two Thousand Eighteen [Member] | One Hundred Twenty Term Loan [Member] | Various Dates In Two Thousand Thirteen And Two Thousand Fourteen [Member] | Transactions Designated As Hedges | Interest Rate Swap1 | Smart [Member] | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Original Notional Amount | ₱ 110 | |
Trade Date | Various dates in 2013 and 2014 | |
Underlying Transaction | 120 term loan | |
Termination Date | June 20, 2018 | |
Weighted Average Hedge Cost | 2.22% | |
Notional amount | 15 | |
Net Mark-to-Market Gains (Losses) | 3 | |
Termination Date March Seven Two Thousand Nineteen [Member] | Hundred Bank Of Tokyo [Member] | Various Dates Two Thousand Fourteen And Two Thousand Fifteen [Member] | Transactions Designated As Hedges | Interest Rate Swap1 | Smart [Member] | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Original Notional Amount | ₱ 85 | |
Trade Date | Various dates in 2014 and 2015 | |
Underlying Transaction | 100 Bank of Tokyo | |
Termination Date | March 7, 2019 | |
Weighted Average Hedge Cost | 2.23% | |
Notional amount | ₱ 10 | 29 |
Net Mark-to-Market Gains (Losses) | 8 | |
Termination Date March Seven Two Thousand Nineteen [Member] | Hundred Bank Of Tokyo [Member] | Weighted average [Member] | Various Dates Two Thousand Fourteen And Two Thousand Fifteen [Member] | Transactions Designated As Hedges | Interest Rate Swap1 | Smart [Member] | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Net Mark-to-Market Gains (Losses) | 3 | |
Termination Date May Fourteen Two Thousand Nineteen [Member] | Fifty Mizuho [Member] | October Two Two Thousand Fourteen [Member] | Transactions Designated As Hedges | Interest Rate Swap1 | Smart [Member] | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Original Notional Amount | ₱ 50 | |
Trade Date | October 2, 2014 | |
Underlying Transaction | 50 Mizuho | |
Termination Date | May 14, 2019 | |
Weighted Average Hedge Cost | 2.58% | |
Notional amount | ₱ 5 | 17 |
Net Mark-to-Market Gains (Losses) | 4 | |
Termination Date May Fourteen Two Thousand Nineteen [Member] | Fifty Mizuho [Member] | Weighted average [Member] | October Two Two Thousand Fourteen [Member] | Transactions Designated As Hedges | Interest Rate Swap1 | Smart [Member] | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Net Mark-to-Market Gains (Losses) | 2 | |
Termination Date March Four Two Thousand Twenty [Member] | Two Hundred Mizuho [Member] | Various dates in two thousand eighteen [Member] | Transactions Designated As Hedges | Long Term Currency Swaps [Member] | Smart [Member] | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Original Notional Amount | ₱ 12 | |
Trade Date | Various dates in 2018 | |
Underlying Transaction | 200 Mizuho | |
Termination Date | March 4, 2020 | |
Weighted Average Hedge Cost | 2.01% | |
Weighted Average Foreign Exchange Rate | 51.87 | |
Notional amount | ₱ 9 | |
Termination Date March Four Two Thousand Twenty [Member] | Two Hundred Mizuho [Member] | Various Dates In Two Thousand Fifteen [Member] | Transactions Designated As Hedges | Interest Rate Swap1 | Smart [Member] | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Original Notional Amount | ₱ 200 | |
Trade Date | Various dates in 2015 | |
Underlying Transaction | 200 Mizuho | |
Termination Date | March 4, 2020 | |
Weighted Average Hedge Cost | 2.10% | |
Notional amount | ₱ 67 | 111 |
Net Mark-to-Market Gains (Losses) | 51 | |
Termination Date March Four Two Thousand Twenty [Member] | Two Hundred Mizuho [Member] | Weighted average [Member] | Various dates in two thousand eighteen [Member] | Transactions Designated As Hedges | Long Term Currency Swaps [Member] | Smart [Member] | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Net Mark-to-Market Gains (Losses) | 6 | |
Termination Date March Four Two Thousand Twenty [Member] | Two Hundred Mizuho [Member] | Weighted average [Member] | Various Dates In Two Thousand Fifteen [Member] | Transactions Designated As Hedges | Interest Rate Swap1 | Smart [Member] | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Net Mark-to-Market Gains (Losses) | 52 | |
Termination Date March Four Two Thousand Twenty [Member] | Two Thousand Fifteen Mizuho US Two Hundred [Member] | January Ten Two Thousand And Nineteen [Member] | Transactions Designated As Hedges | Long Term Currency Swaps [Member] | Smart [Member] | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Original Notional Amount | ₱ 1 | |
Trade Date | January 10, 2019 | |
Underlying Transaction | 2015 Mizuho US$200M | |
Termination Date | March 4, 2020 | |
Weighted Average Hedge Cost | 2.25% | |
Weighted Average Foreign Exchange Rate | 52.16 | |
Termination Date December Seven Two Thousand Twenty One [Member] | Hundred Mizuho [Member] | February Two Thousand Sixteen [Member] | Transactions Designated As Hedges | Interest Rate Swap1 | Smart [Member] | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Original Notional Amount | ₱ 30 | |
Trade Date | February 2016 | |
Underlying Transaction | 100 Mizuho | |
Termination Date | December 7, 2021 | |
Weighted Average Hedge Cost | 2.03% | |
Notional amount | ₱ 18 | 24 |
Net Mark-to-Market Gains (Losses) | 23 | |
Termination Date December Seven Two Thousand Twenty One [Member] | Hundred Mizuho [Member] | Weighted average [Member] | February Two Thousand Sixteen [Member] | Transactions Designated As Hedges | Interest Rate Swap1 | Smart [Member] | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Net Mark-to-Market Gains (Losses) | 24 | |
Termination Date December Seven Two Thousand Twenty One [Member] | Two Thousand Fifteen Mizuho US Hundred [Member] | February Two Thousand Nineteen | Transactions Designated As Hedges | Long Term Currency Swaps [Member] | Smart [Member] | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Original Notional Amount | ₱ 4 | |
Trade Date | February 2019 | |
Underlying Transaction | 2015 Mizuho US$100M | |
Termination Date | December 7, 2021 | |
Weighted Average Hedge Cost | 2.21% | |
Weighted Average Foreign Exchange Rate | 51.83 | |
Termination Date March Five Two Thousand Eighteen [Member] | Two Hundred Mizuho [Member] | Various Dates In Two Thousand Fifteen [Member] | Transactions Designated As Hedges | Long Term Currency Swaps [Member] | Smart [Member] | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Original Notional Amount | ₱ 100 | |
Trade Date | Various dates in 2015 | |
Underlying Transaction | 200 Mizuho | |
Termination Date | March 5, 2018 | |
Weighted Average Hedge Cost | 2.21% | |
Weighted Average Foreign Exchange Rate | 46.66 | |
Notional amount | 20 | |
Net Mark-to-Market Gains (Losses) | 58 | |
Termination Date December Seven Two Thousand Eighteen [Member] | Hundred Mizuho [Member] | Various Dates In Two Thousand Sixteen | Transactions Designated As Hedges | Long Term Currency Swaps [Member] | Smart [Member] | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Original Notional Amount | ₱ 45 | |
Trade Date | Various dates in 2016 | |
Underlying Transaction | 100 Mizuho | |
Termination Date | December 7, 2018 | |
Weighted Average Hedge Cost | 1.93% | |
Weighted Average Foreign Exchange Rate | 46.55 | |
Notional amount | 18 | |
Net Mark-to-Market Gains (Losses) | 58 | |
Termination Date May Thirty One Two Thousand Eighteen [Member] | Eighty CBC [Member] | Various dates in two thousand seventeen [Member] | Transactions Designated As Hedges | Long Term Currency Swaps [Member] | Smart [Member] | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Original Notional Amount | ₱ 11 | |
Trade Date | Various dates in 2017 | |
Underlying Transaction | 80 CBC | |
Termination Date | May 31, 2018 | |
Weighted Average Hedge Cost | 1.28% | |
Weighted Average Foreign Exchange Rate | 49.66 | |
Notional amount | 4 | |
Net Mark-to-Market Gains (Losses) | 1 | |
Termination Date December Seven Two Thousand Twenty [Member] | Hundred Mizuho [Member] | Various Dates In Two Thousand Seventeen And Two Thousand Eighteen | Transactions Designated As Hedges | Long Term Currency Swaps [Member] | Smart [Member] | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Original Notional Amount | ₱ 16 | |
Trade Date | Various dates in 2017 and 2018 | |
Underlying Transaction | 100 Mizuho | |
Termination Date | December 7, 2020 | |
Weighted Average Hedge Cost | 1.69% | |
Weighted Average Foreign Exchange Rate | 50.82 | |
Notional amount | ₱ 16 | 8 |
Net Mark-to-Market Gains (Losses) | ₱ (2) | |
Termination Date December Seven Two Thousand Twenty [Member] | Hundred Mizuho [Member] | Weighted average [Member] | Various Dates In Two Thousand Seventeen And Two Thousand Eighteen | Transactions Designated As Hedges | Long Term Currency Swaps [Member] | Smart [Member] | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Net Mark-to-Market Gains (Losses) | 28 | |
Termination Date December Seven Two Thousand Twenty [Member] | Two Thousand Fifteen Mizuho US Hundred [Member] | Loan agreement date January 11, 2019 [Member] | Transactions Designated As Hedges | Long Term Currency Swaps [Member] | Smart [Member] | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Original Notional Amount | ₱ 2 | |
Trade Date | January 11, 2019 | |
Underlying Transaction | 2015 Mizuho US$100M | |
Termination Date | December 7, 2020 | |
Weighted Average Hedge Cost | 2.34% | |
Weighted Average Foreign Exchange Rate | 52.18 |
Financial Assets and Liabilit_9
Financial Assets and Liabilities - Summary of Derivative Financial Instruments (Parenthetical) (Detail) | 12 Months Ended | |
Dec. 31, 2018PHP (₱)EUR (€) | Dec. 31, 2017PHP (₱) | |
Disclosure of detailed information about financial instruments [Line Items] | ||
Weighted Average Foreign Exchange Rate | 52.56 | |
Mark-to-market gains | ₱ 129,000,000 | ₱ (44,000,000) |
Accrued interest income | 17,000,000 | 11,000,000 |
Fair value recognized | 0 | 0 |
Long Term Currency Swaps [Member] | Transactions Designated As Hedges | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Interest accrual | 16,000,000 | 9,000,000 |
Hedge cost portion of the movements in the fair value | 2,000,000 | 4,000,000 |
Net Mark-to-Market Gains (Losses) | 50,000,000 | 124,000,000 |
Long Term Currency Swaps [Member] | Transactions Designated As Hedges | P L D T | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Mark-to-market gains | 45,000,000 | 108,000,000 |
Interest accrual | 3,000,000 | 18,000,000 |
Hedge cost portion of the movements in the fair value | 1,000,000 | 3,000,000 |
Interest rate swap contract [member] | Transactions Designated As Hedges | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Interest accrual | 18,000,000 | 4,000,000 |
Hedge cost portion of the movements in the fair value | 0 | 0 |
Net Mark-to-Market Gains (Losses) | ₱ 63,000,000 | ₱ 85,000,000 |
EUR Assets [Member] | Weighted average [Member] | Foreign Exchange Contracts | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Weighted Average Foreign Exchange Rate | € | 1.185 | |
Exchange rate, description | no | |
Termination Date Various Dates In November Two Thousand Eighteen And December Two Thousand And Eighteen | EUR Assets [Member] | Various dates in two thousand eighteen [Member] | Weighted average [Member] | Foreign Exchange Contracts | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Weighted Average Foreign Exchange Rate | € | 1.161 | |
Termination date various dates in two thousand seventeen [Member] | US Dollar Liabilities [Member] | Various Dates In Two Thousand Sixteen And Two Thousand Seventeen | Weighted average [Member] | Foreign Exchange Contracts | Condition Three | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Weighted Average Foreign Exchange Rate | 50.30 | |
Termination date various dates in two thousand seventeen [Member] | US Dollar Liabilities [Member] | Various Dates In Two Thousand Sixteen And Two Thousand Seventeen | Weighted average [Member] | Foreign Exchange Contracts | Condition One | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Exchange rate, description | 51.24 | |
Termination date various dates in two thousand seventeen [Member] | US Dollar Liabilities [Member] | Various Dates In Two Thousand Sixteen And Two Thousand Seventeen | Weighted average [Member] | Foreign Exchange Contracts | Condition Two | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Weighted Average Foreign Exchange Rate | 51.24 | |
Termination date various dates in two thousand eighteen [Member] | US Dollar Liabilities [Member] | Various Dates In Two Thousand Seventeen And Two Thousand Eighteen | Weighted average [Member] | Foreign Exchange Contracts | Condition Six | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Weighted Average Foreign Exchange Rate | 51.58 | |
Termination date various dates in two thousand eighteen [Member] | US Dollar Liabilities [Member] | Various Dates In Two Thousand Seventeen And Two Thousand Eighteen | Weighted average [Member] | Foreign Exchange Contracts | Condition Four | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Exchange rate, description | 52.48 | |
Termination date various dates in two thousand eighteen [Member] | US Dollar Liabilities [Member] | Various Dates In Two Thousand Seventeen And Two Thousand Eighteen | Weighted average [Member] | Foreign Exchange Contracts | Condition Five | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Weighted Average Foreign Exchange Rate | 52.48 |
Financial Assets and Liabili_10
Financial Assets and Liabilities - Summary of Derivative Financial Instruments by Classification (Detail) - PHP (₱) ₱ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Reconciliation Of Fair Value Of Credit Derivative [Abstract] | |||
Noncurrent assets | ₱ 140 | ₱ 215 | |
Current assets | 183 | 171 | |
Noncurrent liabilities | (8) | ||
Current liabilities | (80) | (141) | |
Net assets | ₱ 243 | ₱ 237 | ₱ 514 |
Financial Assets and Liabili_11
Financial Assets and Liabilities - Summary of Movements of Consolidated Mark-to-Market Gains (Losses) (Detail) - PHP (₱) ₱ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Changes In Fair Value Of Credit Derivative [Abstract] | |||
Net mark-to-market gains at beginning of the year | ₱ 237 | ₱ 514 | |
Gains on derivative financial instruments (Note 4) | 1,135 | 724 | ₱ 1,539 |
Effective portion recognized in the profit or loss for the cash flow hedges | 27 | (55) | |
Net fair value gains (losses) on cash flow hedges (Note 27) | (286) | (411) | 76 |
Settlements, interest expense and others | (870) | (535) | |
Net mark-to-market gains at end of the year | ₱ 243 | ₱ 237 | ₱ 514 |
Financial Assets and Liabili_12
Financial Assets and Liabilities - Summary of Analysis of Gains (Losses) on Derivative Financial Instruments (Detail) - PHP (₱) ₱ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Net Gain Losses On Derivative Financial Instruments [Abstract] | |||
Gains on derivative financial instruments (Note 4) | ₱ 1,135 | ₱ 724 | ₱ 1,539 |
Hedge costs | (49) | (191) | (543) |
Net gains on derivative financial instruments (Notes 4 and 5) | ₱ 1,086 | ₱ 533 | ₱ 996 |
Financial Assets and Liabili_13
Financial Assets and Liabilities - Summary of Maturity Profile of Financial Assets Based on Consolidated Undiscounted Claims Outstanding (Detail) - PHP (₱) ₱ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Maturity Analysis For Financial Assets Held For Managing Liquidity Risk [Line Items] | ||
Short-term investments | ₱ 100 | |
Less: To financial assets at FVPL | ₱ 4,763 | |
Loans and receivables, category [member] | ||
Disclosure Of Maturity Analysis For Financial Assets Held For Managing Liquidity Risk [Line Items] | ||
Short-term investments | 100 | |
Financial Asset | ||
Disclosure Of Maturity Analysis For Financial Assets Held For Managing Liquidity Risk [Line Items] | ||
Total | 112,206 | |
Available-for-sale financial investments | 15,165 | |
Financial Asset | Financial Instruments At Amortized Cost | ||
Disclosure Of Maturity Analysis For Financial Assets Held For Managing Liquidity Risk [Line Items] | ||
Financial instruments at amortized cost: | 90,232 | |
Other financial assets | 2,686 | |
Debt instruments at amortized cost | 150 | |
Cash equivalents | 45,672 | |
Short-term investments | 1,165 | |
Retail subscribers | 19,444 | |
Corporate subscribers | 11,073 | |
Foreign administrations | 4,225 | |
Domestic carriers | 270 | |
Dealers, agents and others | 5,547 | |
Financial instruments at FVPL: | 11,596 | |
Less: To financial assets at FVPL | 4,763 | |
Other financial assets | 6,833 | |
Financial assets at FVOCI | 4,353 | |
Total | 106,181 | |
Financial Asset | Loans and receivables, category [member] | ||
Disclosure Of Maturity Analysis For Financial Assets Held For Managing Liquidity Risk [Line Items] | ||
Loans receivables | 96,891 | |
Advances and other noncurrent assets | 20,901 | |
Cash equivalents | 26,554 | |
Short-term investments | 1,074 | |
Retail subscribers | 17,961 | |
Corporate subscribers | 9,641 | |
Foreign administrations | 6,517 | |
Domestic carriers | 457 | |
Dealers, agents and others | 13,686 | |
Investment in debt securities and other long-term investments | 100 | |
Financial Asset | HTM Investments [Member] | ||
Disclosure Of Maturity Analysis For Financial Assets Held For Managing Liquidity Risk [Line Items] | ||
Investment in debt securities and other long-term investments | 150 | |
HTM investments: | 150 | |
Within 12 months [Member] | Financial Asset | ||
Disclosure Of Maturity Analysis For Financial Assets Held For Managing Liquidity Risk [Line Items] | ||
Total | 82,814 | |
Within 12 months [Member] | Financial Asset | Financial Instruments At Amortized Cost | ||
Disclosure Of Maturity Analysis For Financial Assets Held For Managing Liquidity Risk [Line Items] | ||
Financial instruments at amortized cost: | 87,526 | |
Other financial assets | 130 | |
Cash equivalents | 45,672 | |
Short-term investments | 1,165 | |
Retail subscribers | 19,444 | |
Corporate subscribers | 11,073 | |
Foreign administrations | 4,225 | |
Domestic carriers | 270 | |
Dealers, agents and others | 5,547 | |
Financial instruments at FVPL: | 6,833 | |
Other financial assets | 6,833 | |
Financial assets at FVOCI | 1,604 | |
Total | 95,963 | |
Within 12 months [Member] | Financial Asset | Loans and receivables, category [member] | ||
Disclosure Of Maturity Analysis For Financial Assets Held For Managing Liquidity Risk [Line Items] | ||
Loans receivables | 82,814 | |
Advances and other noncurrent assets | 6,824 | |
Cash equivalents | 26,554 | |
Short-term investments | 1,074 | |
Retail subscribers | 17,961 | |
Corporate subscribers | 9,641 | |
Foreign administrations | 6,517 | |
Domestic carriers | 457 | |
Dealers, agents and others | 13,686 | |
Investment in debt securities and other long-term investments | 100 | |
1-3 years [Member] | Financial Asset | ||
Disclosure Of Maturity Analysis For Financial Assets Held For Managing Liquidity Risk [Line Items] | ||
Total | 11,325 | |
1-3 years [Member] | Financial Asset | Financial Instruments At Amortized Cost | ||
Disclosure Of Maturity Analysis For Financial Assets Held For Managing Liquidity Risk [Line Items] | ||
Financial instruments at amortized cost: | 2,190 | |
Other financial assets | 2,040 | |
Debt instruments at amortized cost | 150 | |
Financial assets at FVOCI | 2,749 | |
Total | 4,939 | |
1-3 years [Member] | Financial Asset | Loans and receivables, category [member] | ||
Disclosure Of Maturity Analysis For Financial Assets Held For Managing Liquidity Risk [Line Items] | ||
Loans receivables | 11,175 | |
Advances and other noncurrent assets | 11,175 | |
1-3 years [Member] | Financial Asset | HTM Investments [Member] | ||
Disclosure Of Maturity Analysis For Financial Assets Held For Managing Liquidity Risk [Line Items] | ||
Investment in debt securities and other long-term investments | 150 | |
HTM investments: | 150 | |
3-5 years [Member] | Financial Asset | ||
Disclosure Of Maturity Analysis For Financial Assets Held For Managing Liquidity Risk [Line Items] | ||
Total | 2,739 | |
3-5 years [Member] | Financial Asset | Financial Instruments At Amortized Cost | ||
Disclosure Of Maturity Analysis For Financial Assets Held For Managing Liquidity Risk [Line Items] | ||
Financial instruments at amortized cost: | 349 | |
Other financial assets | 349 | |
Total | 349 | |
3-5 years [Member] | Financial Asset | Loans and receivables, category [member] | ||
Disclosure Of Maturity Analysis For Financial Assets Held For Managing Liquidity Risk [Line Items] | ||
Loans receivables | 2,739 | |
Advances and other noncurrent assets | 2,739 | |
2024 to 2060 [Member] | Financial Asset | ||
Disclosure Of Maturity Analysis For Financial Assets Held For Managing Liquidity Risk [Line Items] | ||
Total | 15,328 | |
Available-for-sale financial investments | 15,165 | |
2024 to 2060 [Member] | Financial Asset | Financial Instruments At Amortized Cost | ||
Disclosure Of Maturity Analysis For Financial Assets Held For Managing Liquidity Risk [Line Items] | ||
Financial instruments at amortized cost: | 167 | |
Other financial assets | 167 | |
Financial instruments at FVPL: | 4,763 | |
Less: To financial assets at FVPL | 4,763 | |
Total | ₱ 4,930 | |
2024 to 2060 [Member] | Financial Asset | Loans and receivables, category [member] | ||
Disclosure Of Maturity Analysis For Financial Assets Held For Managing Liquidity Risk [Line Items] | ||
Loans receivables | 163 | |
Advances and other noncurrent assets | ₱ 163 |
Financial Assets and Liabili_14
Financial Assets and Liabilities - Summary of Maturity Profile of Financial Liabilities Based on Consolidated Contractual Undiscounted Obligations Outstanding (Detail) - PHP (₱) ₱ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Maturity Analysis For Nonderivative And Derivative Financial Liabilities [Line Items] | ||
Debt(1): | ₱ 218,791 | ₱ 213,597 |
Principal | 176,694 | 173,136 |
Interest | 42,097 | 40,461 |
Lease obligations: | 22,674 | 20,666 |
Operating lease | 22,674 | 20,666 |
Other obligations: | 145,892 | 128,618 |
Trade and other payables undiscounted cash flows | 145,892 | 128,618 |
Total contractual obligations | 387,357 | 362,881 |
Within 12 months [Member] | ||
Disclosure Of Maturity Analysis For Nonderivative And Derivative Financial Liabilities [Line Items] | ||
Debt(1): | 13,892 | 3,285 |
Principal | 13,292 | 3,251 |
Interest | 600 | 34 |
Lease obligations: | 12,727 | 11,871 |
Operating lease | 12,727 | 11,871 |
Other obligations: | 140,549 | 120,471 |
Trade and other payables undiscounted cash flows | 140,549 | 120,471 |
Total contractual obligations | 167,168 | 135,627 |
1-3 years [Member] | ||
Disclosure Of Maturity Analysis For Nonderivative And Derivative Financial Liabilities [Line Items] | ||
Debt(1): | 72,007 | 70,552 |
Principal | 49,747 | 51,254 |
Interest | 22,260 | 19,298 |
Lease obligations: | 4,066 | 3,851 |
Operating lease | 4,066 | 3,851 |
Other obligations: | 3,206 | 5,881 |
Trade and other payables undiscounted cash flows | 3,206 | 5,881 |
Total contractual obligations | 79,279 | 80,284 |
3-5 years [Member] | ||
Disclosure Of Maturity Analysis For Nonderivative And Derivative Financial Liabilities [Line Items] | ||
Debt(1): | 51,098 | 48,958 |
Principal | 41,401 | 37,925 |
Interest | 9,697 | 11,033 |
Lease obligations: | 2,616 | 2,266 |
Operating lease | 2,616 | 2,266 |
Other obligations: | 176 | 264 |
Trade and other payables undiscounted cash flows | 176 | 264 |
Total contractual obligations | 53,890 | 51,488 |
2024 and onwards [Member] | ||
Disclosure Of Maturity Analysis For Nonderivative And Derivative Financial Liabilities [Line Items] | ||
Debt(1): | 81,794 | 90,802 |
Principal | 72,254 | 80,706 |
Interest | 9,540 | 10,096 |
Lease obligations: | 3,265 | 2,678 |
Operating lease | 3,265 | 2,678 |
Other obligations: | 1,961 | 2,002 |
Trade and other payables undiscounted cash flows | 1,961 | 2,002 |
Total contractual obligations | 87,020 | 95,482 |
Suppliers and contractors liability [Member] | ||
Disclosure Of Maturity Analysis For Nonderivative And Derivative Financial Liabilities [Line Items] | ||
Trade and other payables undiscounted cash flows | 72,064 | 59,776 |
Suppliers and contractors liability [Member] | Within 12 months [Member] | ||
Disclosure Of Maturity Analysis For Nonderivative And Derivative Financial Liabilities [Line Items] | ||
Trade and other payables undiscounted cash flows | 69,099 | 54,196 |
Suppliers and contractors liability [Member] | 1-3 years [Member] | ||
Disclosure Of Maturity Analysis For Nonderivative And Derivative Financial Liabilities [Line Items] | ||
Trade and other payables undiscounted cash flows | 2,828 | 5,339 |
Suppliers and contractors liability [Member] | 3-5 years [Member] | ||
Disclosure Of Maturity Analysis For Nonderivative And Derivative Financial Liabilities [Line Items] | ||
Trade and other payables undiscounted cash flows | 137 | 241 |
Utilities and Related Expenses Liability [Member] | ||
Disclosure Of Maturity Analysis For Nonderivative And Derivative Financial Liabilities [Line Items] | ||
Trade and other payables undiscounted cash flows | 48,189 | 44,007 |
Utilities and Related Expenses Liability [Member] | Within 12 months [Member] | ||
Disclosure Of Maturity Analysis For Nonderivative And Derivative Financial Liabilities [Line Items] | ||
Trade and other payables undiscounted cash flows | 48,128 | 43,984 |
Utilities and Related Expenses Liability [Member] | 1-3 years [Member] | ||
Disclosure Of Maturity Analysis For Nonderivative And Derivative Financial Liabilities [Line Items] | ||
Trade and other payables undiscounted cash flows | 61 | 22 |
Utilities and Related Expenses Liability [Member] | 3-5 years [Member] | ||
Disclosure Of Maturity Analysis For Nonderivative And Derivative Financial Liabilities [Line Items] | ||
Trade and other payables undiscounted cash flows | 1 | |
Liability From Redemption Of Preferred Shares [Member] | ||
Disclosure Of Maturity Analysis For Nonderivative And Derivative Financial Liabilities [Line Items] | ||
Trade and other payables undiscounted cash flows | 7,862 | 7,870 |
Liability From Redemption Of Preferred Shares [Member] | Within 12 months [Member] | ||
Disclosure Of Maturity Analysis For Nonderivative And Derivative Financial Liabilities [Line Items] | ||
Trade and other payables undiscounted cash flows | 7,862 | 7,870 |
Employee benefits liability [member] | ||
Disclosure Of Maturity Analysis For Nonderivative And Derivative Financial Liabilities [Line Items] | ||
Trade and other payables undiscounted cash flows | 7,955 | 6,573 |
Employee benefits liability [member] | Within 12 months [Member] | ||
Disclosure Of Maturity Analysis For Nonderivative And Derivative Financial Liabilities [Line Items] | ||
Trade and other payables undiscounted cash flows | 7,955 | 6,573 |
Customers deposits liability [Member] | ||
Disclosure Of Maturity Analysis For Nonderivative And Derivative Financial Liabilities [Line Items] | ||
Trade and other payables undiscounted cash flows | 2,194 | 2,443 |
Customers deposits liability [Member] | 1-3 years [Member] | ||
Disclosure Of Maturity Analysis For Nonderivative And Derivative Financial Liabilities [Line Items] | ||
Trade and other payables undiscounted cash flows | 194 | 419 |
Customers deposits liability [Member] | 3-5 years [Member] | ||
Disclosure Of Maturity Analysis For Nonderivative And Derivative Financial Liabilities [Line Items] | ||
Trade and other payables undiscounted cash flows | 39 | 22 |
Customers deposits liability [Member] | 2024 and onwards [Member] | ||
Disclosure Of Maturity Analysis For Nonderivative And Derivative Financial Liabilities [Line Items] | ||
Trade and other payables undiscounted cash flows | 1,961 | 2,002 |
Carriers and other customers liability [Member] | ||
Disclosure Of Maturity Analysis For Nonderivative And Derivative Financial Liabilities [Line Items] | ||
Trade and other payables undiscounted cash flows | 1,815 | 2,083 |
Carriers and other customers liability [Member] | Within 12 months [Member] | ||
Disclosure Of Maturity Analysis For Nonderivative And Derivative Financial Liabilities [Line Items] | ||
Trade and other payables undiscounted cash flows | 1,815 | 2,083 |
Dividends Payable [Member] | ||
Disclosure Of Maturity Analysis For Nonderivative And Derivative Financial Liabilities [Line Items] | ||
Trade and other payables undiscounted cash flows | 1,533 | 1,575 |
Dividends Payable [Member] | Within 12 months [Member] | ||
Disclosure Of Maturity Analysis For Nonderivative And Derivative Financial Liabilities [Line Items] | ||
Trade and other payables undiscounted cash flows | 1,533 | 1,575 |
Other Payables | ||
Disclosure Of Maturity Analysis For Nonderivative And Derivative Financial Liabilities [Line Items] | ||
Trade and other payables undiscounted cash flows | 4,280 | 4,291 |
Other Payables | Within 12 months [Member] | ||
Disclosure Of Maturity Analysis For Nonderivative And Derivative Financial Liabilities [Line Items] | ||
Trade and other payables undiscounted cash flows | 4,157 | 4,190 |
Other Payables | 1-3 years [Member] | ||
Disclosure Of Maturity Analysis For Nonderivative And Derivative Financial Liabilities [Line Items] | ||
Trade and other payables undiscounted cash flows | ₱ 123 | ₱ 101 |
Financial Assets and Liabili_15
Financial Assets and Liabilities - Summary of Future Minimum Lease Commitments Payable with Non-cancellable Operating Leases (Detail) - PHP (₱) ₱ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure Of Operating Lease By Lessee [Line Items] | ||
Future minimum lease commitments payable with non-cancellable operating leases one year | ₱ 22,674 | ₱ 20,666 |
Within 12 months [Member] | ||
Disclosure Of Operating Lease By Lessee [Line Items] | ||
Future minimum lease commitments payable with non-cancellable operating leases one year | 12,867 | 11,945 |
Later than one year and not later than five years [Member] | ||
Disclosure Of Operating Lease By Lessee [Line Items] | ||
Future minimum lease commitments payable with non-cancellable operating leases one year | 6,542 | 6,043 |
2024 to 2060 [Member] | ||
Disclosure Of Operating Lease By Lessee [Line Items] | ||
Future minimum lease commitments payable with non-cancellable operating leases one year | ₱ 3,265 | ₱ 2,678 |
Financial Assets and Liabili_16
Financial Assets and Liabilities - Summary of Impact of Hedging Instruments (Detail) ₱ in Millions, $ in Millions | 12 Months Ended | |
Dec. 31, 2018PHP (₱)USD ($) | Dec. 31, 2017PHP (₱)USD ($) | |
Foreign currency exchange risk [Member] | ||
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows [Line Items] | ||
Carrying Amount | ₱ 13 | ₱ 125 |
Line item in the Consolidated Statement | Current portion of derivative financial assets | Current portion of derivative financial assets |
Foreign currency exchange risk [Member] | Long Term Currency Swaps [Member] | ||
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows [Line Items] | ||
Notional Amount | $ | 46 | 90 |
Carrying Amount | ₱ 83 | ₱ 115 |
Line item in the Consolidated Statement | Derivative financial assets - net of current portion | Derivative financial assets - net of current portion |
Interest rate risk [member] | ||
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows [Line Items] | ||
Notional Amount | $ | 323 | 525 |
Carrying Amount | ₱ 227 | ₱ 122 |
Interest rate risk [member] | Interest Rate Swap1 | ||
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows [Line Items] | ||
Notional Amount | $ | 323 | 525 |
Carrying Amount | ₱ 57 | ₱ 101 |
Line item in the Consolidated Statement | Derivative financial assets - net of current portion | Derivative financial assets - net of current portion |
Interest rate risk [member] | Derivative financial instruments and others [Member] | ||
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows [Line Items] | ||
Carrying Amount | ₱ 170 | ₱ 45 |
Line item in the Consolidated Statement | Current portion of derivative financial assets | Current portion of derivative financial assets |
Interest rate risk [member] | Current Portion of Derivative Financial Assets [Member] | ||
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows [Line Items] | ||
Carrying Amount | ₱ (24) | |
Line item in the Consolidated Statement | Current portion of derivative financial assets |
Financial Assets And Liabili_17
Financial Assets And Liabilities - Summary of Impact of Hedged Items on Consolidated Statements of Financial Position (Detail) - PHP (₱) ₱ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Foreign currency exchange risk [Member] | P L D T | ||
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows [Line Items] | ||
Cash flow hedge reserve | ₱ (283) | ₱ (170) |
Cost of hedging reserve | 4 | 18 |
Foreign currency exchange risk [Member] | Smart [Member] | ||
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows [Line Items] | ||
Cash flow hedge reserve | 50 | 124 |
Cost of hedging reserve | 16 | 9 |
Foreign currency exchange risk [Member] | US$300M Term Loan [Member] | P L D T | ||
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows [Line Items] | ||
Cash flow hedge reserve | (273) | (171) |
Cost of hedging reserve | 4 | 18 |
Foreign currency exchange risk [Member] | US$100M PNB [Member] | P L D T | ||
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows [Line Items] | ||
Cash flow hedge reserve | (7) | |
Foreign currency exchange risk [Member] | US$200M MUFG Bank, Ltd. [Member] | P L D T | ||
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows [Line Items] | ||
Cash flow hedge reserve | (3) | 1 |
Foreign currency exchange risk [Member] | US$200M Mizuho [Member] | Smart [Member] | ||
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows [Line Items] | ||
Cash flow hedge reserve | 7 | 65 |
Cost of hedging reserve | 3 | 7 |
Foreign currency exchange risk [Member] | US$100M Mizuho | Smart [Member] | ||
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows [Line Items] | ||
Cash flow hedge reserve | 43 | 57 |
Cost of hedging reserve | 13 | 2 |
Foreign currency exchange risk [Member] | 2013 Chinabank US$80M [Member] | Smart [Member] | ||
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows [Line Items] | ||
Cash flow hedge reserve | 2 | |
Interest rate risk [member] | P L D T | ||
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows [Line Items] | ||
Cash flow hedge reserve | 129 | 44 |
Interest rate risk [member] | Smart [Member] | ||
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows [Line Items] | ||
Cash flow hedge reserve | (22) | 5 |
Interest rate risk [member] | US$100M PNB [Member] | P L D T | ||
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows [Line Items] | ||
Cash flow hedge reserve | 50 | 9 |
Interest rate risk [member] | US$200M MUFG Bank, Ltd. [Member] | P L D T | ||
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows [Line Items] | ||
Cash flow hedge reserve | 55 | 34 |
Interest rate risk [member] | US$50M MBTC [Member] | P L D T | ||
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows [Line Items] | ||
Cash flow hedge reserve | 24 | 1 |
Interest rate risk [member] | 2014 BTMU US$100M [Member] | Smart [Member] | ||
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows [Line Items] | ||
Cash flow hedge reserve | (6) | |
Interest rate risk [member] | 2014 Mizuho US$50M [Member] | Smart [Member] | ||
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows [Line Items] | ||
Cash flow hedge reserve | (2) | 3 |
Interest rate risk [member] | 2015 Mizuho US$200M [Member] | Smart [Member] | ||
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows [Line Items] | ||
Cash flow hedge reserve | (11) | 8 |
Interest rate risk [member] | 2015 Mizuho US$100M [Member] | Smart [Member] | ||
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows [Line Items] | ||
Cash flow hedge reserve | 1 | |
Interest rate risk [member] | 2013 Sumitomo US$120M [Member] | Smart [Member] | ||
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows [Line Items] | ||
Cash flow hedge reserve | ₱ (3) | (6) |
Interest rate risk [member] | 2013 BTMU US$50M [Member] | Smart [Member] | ||
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows [Line Items] | ||
Cash flow hedge reserve | ₱ (1) |
Financial Assets And Liabili_18
Financial Assets And Liabilities - Summary of Effect of the Cash Flow Hedge in Consolidated Income Statements and Statements of Other Comprehensive Income (Detail) - Cash Flow Hedges [Member] - PHP (₱) ₱ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Foreign currency exchange risk [Member] | ||
Disclosure Of Hedge Accounting [Line Items] | ||
Total hedging loss recognized in OCI | ₱ (234) | |
Line item in the Consolidated Income Statements | Other comprehensive loss | |
Foreign currency exchange risk [Member] | Long Term Currency Swaps [Member] | ||
Disclosure Of Hedge Accounting [Line Items] | ||
Total hedging loss recognized in OCI | ₱ (46) | |
Line item in the Consolidated Income Statements | Other comprehensive loss | |
Interest rate risk [member] | Interest Rate Swap1 | ||
Disclosure Of Hedge Accounting [Line Items] | ||
Total hedging loss recognized in OCI | ₱ 179 | ₱ 169 |
Line item in the Consolidated Income Statements | Other comprehensive loss | Other comprehensive loss |
Financial Assets and Liabili_19
Financial Assets and Liabilities - Summary of Consolidated Foreign Currency-denominated Monetary Financial Assets and Liabilities (Detail) ₱ in Millions, $ in Millions | Dec. 31, 2018PHP (₱) | Dec. 31, 2018USD ($) | Dec. 31, 2017PHP (₱) | Dec. 31, 2017USD ($) |
Noncurrent Financial Assets | ||||
Derivative financial assets – net of current portion (Note 27) | ₱ 140 | ₱ 215 | ||
Current portion of other non-financial assets | 461 | |||
Total | 2,168 | 13,846 | ||
Current Financial Assets | ||||
Current portion of derivative financial assets (Note 27) | 183 | 171 | ||
Current portion of other financial assets (Notes 19 and 27) | 7,008 | |||
Total assets | 95,747 | 104,220 | ||
Noncurrent Financial Liabilities | ||||
Interest-bearing financial liabilities – net of current portion (Notes 20 and 27) | 155,835 | 157,654 | ||
Derivative financial liabilities – net of current portion (Note 27) | 8 | |||
Total | 143,392 | 157,711 | ||
Current Financial Liabilities | ||||
Current portion of interest-bearing financial liabilities (Notes 20, 24 and 27) | 20,441 | 14,957 | ||
Current portion of derivative financial liabilities (Note 27) | 80 | 141 | ||
Total liabilities | 332,771 | 311,596 | ||
Foreign currency denominated monetary financial assets [member] | ||||
Noncurrent Financial Assets | ||||
Derivative financial assets – net of current portion (Note 27) | 140 | $ 3 | 215 | $ 4 |
Current portion of other non-financial assets | 12 | 2 | ||
Total | 152 | 3 | 217 | 4 |
Current Financial Assets | ||||
Cash and cash equivalents | 37,688 | 717 | 21,988 | 440 |
Short-term investments | 1,138 | 22 | 75 | 2 |
Trade and other receivables – net | 13,741 | 261 | 10,893 | 218 |
Current portion of derivative financial assets (Note 27) | 183 | 3 | 171 | 3 |
Current portion of investment in debt securities and other long-term investments | 100 | 2 | ||
Current portion of other financial assets (Notes 19 and 27) | 11 | 9 | ||
Total current financial assets | 52,761 | 1,003 | 33,236 | 665 |
Total assets | 52,913 | 1,006 | 33,453 | 669 |
Noncurrent Financial Liabilities | ||||
Interest-bearing financial liabilities – net of current portion (Notes 20 and 27) | 17,668 | 336 | 22,285 | 446 |
Derivative financial liabilities – net of current portion (Note 27) | 8 | |||
Other noncurrent liabilities | 12 | 11 | ||
Total | 17,680 | 336 | 22,304 | 446 |
Current Financial Liabilities | ||||
Accounts payable | 21,797 | 415 | 11,670 | 233 |
Accrued expenses and other current liabilities | 8,961 | 170 | 8,314 | 166 |
Current portion of interest-bearing financial liabilities (Notes 20, 24 and 27) | 5,780 | 110 | 12,922 | 259 |
Current portion of derivative financial liabilities (Note 27) | 80 | 2 | 141 | 3 |
Total current financial liabilities | 36,618 | 697 | 33,047 | 661 |
Total liabilities | ₱ 54,298 | $ 1,033 | ₱ 55,351 | $ 1,107 |
Financial Assets and Liabili_20
Financial Assets and Liabilities - Summary of Consolidated Foreign Currency-denominated Monetary Financial Assets and Liabilities (Parenthetical) (Detail) | 12 Months Ended | |||||
Dec. 31, 2018PHP (₱) | Dec. 31, 2018 | Dec. 31, 2018USD ($) | Dec. 31, 2017PHP (₱) | Dec. 31, 2017 | Dec. 31, 2017USD ($) | |
Disclosure Of Pre Tax Exposure To Foreign Currency Exchange Risk On Financial Instruments [Line Items] | ||||||
Weighted Average Foreign Exchange Rate | 52.56 | |||||
Foreign currency exchange risk [Member] | ||||||
Disclosure Of Pre Tax Exposure To Foreign Currency Exchange Risk On Financial Instruments [Line Items] | ||||||
Weighted Average Foreign Exchange Rate | 52.56 | 52.56 | 1 | 49.96 | 49.96 | 1 |
Financial Assets and Liabili_21
Financial Assets and Liabilities - Summary of Carrying Amounts, by Maturity, of Financial Instruments that are Expected to Have Exposure on Interest Rate Risk (Detail) ₱ in Millions, $ in Millions | 12 Months Ended | |||
Dec. 31, 2018PHP (₱) | Dec. 31, 2017PHP (₱) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | |
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Total assets | ₱ | ₱ 95,747 | ₱ 104,220 | ||
Long-term Debt | ₱ | 332,771 | 311,596 | ||
Fair Value [Member] | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Total assets | ₱ | 16,272 | 15,550 | ||
Long-term Debt | ₱ | 7,942 | 149 | ||
Costs [Member] | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Total assets | ₱ | 112,486 | 118,943 | ||
Interest rate risk [member] | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | 173,136 | $ 3,466 | ||
Interest rate risk [member] | Within 12 months [Member] | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | 65 | |||
Interest rate risk [member] | 1-2 years [Member] | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | 639 | |||
Interest rate risk [member] | 2021 [Member] | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | 387 | |||
Interest rate risk [member] | 3-5 years [Member] | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | 760 | |||
Interest rate risk [member] | 2024 to 2060 [Member] | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | 1,615 | |||
Interest rate risk [member] | Debt Instruments at Amortized Cost [Member] | U.S. Dollars [Member] | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Total assets | 100 | 2 | ||
Interest rate risk [member] | Debt Instruments at Amortized Cost [Member] | Philippine Peso [Member] | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Total assets | ₱ 150 | ₱ 150 | $ 3 | 3 |
Interest rate risk [member] | Debt Instruments at Amortized Cost [Member] | Within 12 months [Member] | U.S. Dollars [Member] | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Total assets | 2 | |||
Interest rate | 3.50% | |||
Interest rate risk [member] | Debt Instruments at Amortized Cost [Member] | 1-2 years [Member] | Philippine Peso [Member] | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Total assets | 3 | |||
Interest rate | 4.8371% | |||
Interest rate risk [member] | Debt Instruments at Amortized Cost [Member] | 2021 [Member] | Philippine Peso [Member] | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Total assets | 3 | |||
Interest rate | 4.8371% | |||
Interest rate risk [member] | Cash In Bank | U.S. Dollars [Member] | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Total assets | ₱ 1,580 | ₱ 1,465 | 30 | 29 |
Interest rate risk [member] | Cash In Bank | Philippine Peso [Member] | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Total assets | 3,017 | 4,468 | 57 | 89 |
Interest rate risk [member] | Cash In Bank | Other Currencies | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Total assets | ₱ | ₱ 4 | ₱ 9 | ||
Interest rate risk [member] | Cash In Bank | Within 12 months [Member] | Top of range [member] | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Interest rate | 0.50% | |||
Interest rate risk [member] | Cash In Bank | Within 12 months [Member] | U.S. Dollars [Member] | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Total assets | 30 | 29 | ||
Interest rate risk [member] | Cash In Bank | Within 12 months [Member] | U.S. Dollars [Member] | Bottom Of Range [Member] | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Interest rate | 0.01% | 2.10% | ||
Interest rate risk [member] | Cash In Bank | Within 12 months [Member] | U.S. Dollars [Member] | Top of range [member] | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Interest rate | 1.00% | 2.50% | ||
Interest rate risk [member] | Cash In Bank | Within 12 months [Member] | Philippine Peso [Member] | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Total assets | 57 | 89 | ||
Interest rate risk [member] | Cash In Bank | Within 12 months [Member] | Philippine Peso [Member] | Bottom Of Range [Member] | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Interest rate | 0.05% | 1.75% | ||
Interest rate risk [member] | Cash In Bank | Within 12 months [Member] | Philippine Peso [Member] | Top of range [member] | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Interest rate | 3.75% | 3.50% | ||
Interest rate risk [member] | Cash In Bank | Within 12 months [Member] | Other Currencies | Bottom Of Range [Member] | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Interest rate | 0.10% | 0.10% | ||
Interest rate risk [member] | Cash In Bank | Within 12 months [Member] | Other Currencies | Top of range [member] | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Interest rate | 0.50% | |||
Interest rate risk [member] | Temporary Cash Investments | U.S. Dollars [Member] | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Total assets | ₱ 35,467 | ₱ 20,063 | 675 | 402 |
Interest rate risk [member] | Temporary Cash Investments | Philippine Peso [Member] | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Total assets | ₱ 10,204 | ₱ 6,491 | 194 | 130 |
Interest rate risk [member] | Temporary Cash Investments | Within 12 months [Member] | U.S. Dollars [Member] | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Total assets | 675 | 402 | ||
Interest rate risk [member] | Temporary Cash Investments | Within 12 months [Member] | U.S. Dollars [Member] | Bottom Of Range [Member] | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Interest rate | 0.875% | 0.25% | ||
Interest rate risk [member] | Temporary Cash Investments | Within 12 months [Member] | U.S. Dollars [Member] | Top of range [member] | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Interest rate | 3.90% | 2.10% | ||
Interest rate risk [member] | Temporary Cash Investments | Within 12 months [Member] | Philippine Peso [Member] | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Total assets | 194 | 130 | ||
Interest rate risk [member] | Temporary Cash Investments | Within 12 months [Member] | Philippine Peso [Member] | Bottom Of Range [Member] | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Interest rate | 0.125% | 0.125% | ||
Interest rate risk [member] | Temporary Cash Investments | Within 12 months [Member] | Philippine Peso [Member] | Top of range [member] | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Interest rate | 4.20% | 4.325% | ||
Interest rate risk [member] | Temporary Cash Investments | Within 12 months [Member] | Other Currencies | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Interest rate | 0.075% | |||
Interest rate risk [member] | Total Assets Excluding Short Term Investments [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | ₱ 176,694 | 3,362 | ||
Interest rate risk [member] | Total Assets Excluding Short Term Investments [Member] | Within 12 months [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | 253 | |||
Interest rate risk [member] | Total Assets Excluding Short Term Investments [Member] | 1-2 years [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | 518 | |||
Interest rate risk [member] | Total Assets Excluding Short Term Investments [Member] | 2021 [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | 428 | |||
Interest rate risk [member] | Total Assets Excluding Short Term Investments [Member] | 3-5 years [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | 788 | |||
Interest rate risk [member] | Total Assets Excluding Short Term Investments [Member] | 2024 to 2060 [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | 1,375 | |||
Interest rate risk [member] | Short Term Investments1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Total assets | 51,587 | ₱ 33,820 | 982 | 677 |
Interest rate risk [member] | Short Term Investments1 | U.S. Dollars [Member] | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Total assets | 1,138 | ₱ 1,074 | 22 | 22 |
Interest rate risk [member] | Short Term Investments1 | Philippine Peso [Member] | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Total assets | ₱ 27 | 1 | ||
Interest rate risk [member] | Short Term Investments1 | Within 12 months [Member] | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Total assets | 979 | 674 | ||
Interest rate risk [member] | Short Term Investments1 | Within 12 months [Member] | U.S. Dollars [Member] | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Total assets | 22 | 22 | ||
Interest rate | 2.10% | |||
Interest rate risk [member] | Short Term Investments1 | Within 12 months [Member] | U.S. Dollars [Member] | Bottom Of Range [Member] | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Interest rate | 2.50% | |||
Interest rate risk [member] | Short Term Investments1 | Within 12 months [Member] | U.S. Dollars [Member] | Top of range [member] | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Interest rate | 3.00% | |||
Interest rate risk [member] | Short Term Investments1 | Within 12 months [Member] | Philippine Peso [Member] | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Total assets | 1 | |||
Interest rate | 3.50% | |||
Interest rate risk [member] | Short Term Investments1 | Within 12 months [Member] | Other Currencies | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Interest rate | 0.075% | |||
Interest rate risk [member] | Short Term Investments1 | 1-2 years [Member] | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Total assets | 3 | |||
Interest rate risk [member] | Short Term Investments1 | 2021 [Member] | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Total assets | 3 | |||
Interest rate risk [member] | Fixed interest rate [member] | U.S. Dollars [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | ₱ 1,483 | 28 | ||
Interest Rates, description | — | |||
Interest rate | — | |||
Interest rate risk [member] | Fixed interest rate [member] | Philippine Peso [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | ₱ 138,637 | ₱ 129,733 | 2,638 | $ 2,597 |
Interest Rates, description | — | |||
Interest rate | — | |||
Interest rate risk [member] | Fixed interest rate [member] | Within 12 months [Member] | U.S. Dollars [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | 2 | |||
Interest Rates, description | 1.4100% | |||
Interest rate | 1.4100% | |||
Interest rate risk [member] | Fixed interest rate [member] | Within 12 months [Member] | Philippine Peso [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | $ 234 | |||
Interest Rates, description | — | |||
Interest rate | — | |||
Interest rate risk [member] | Fixed interest rate [member] | Within 12 months [Member] | Philippine Peso [Member] | Bottom Of Range [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Interest rate | 4.911% | 4.911% | ||
Interest rates on borrowings | 4.911% | 4.911% | ||
Interest rate risk [member] | Fixed interest rate [member] | Within 12 months [Member] | Philippine Peso [Member] | Top of range [member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Interest rate | 5.6038% | 5.6038% | ||
Interest rates on borrowings | 5.6038% | 5.6038% | ||
Interest rate risk [member] | Fixed interest rate [member] | 1-2 years [Member] | Top of range [member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Interest rate | 2.885% | 2.885% | ||
Interest rates on borrowings | 2.885% | 2.885% | ||
Interest rate risk [member] | Fixed interest rate [member] | 1-2 years [Member] | U.S. Dollars [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | $ 15 | |||
Interest Rates, description | 2.8850% | |||
Interest rate | 2.8850% | |||
Interest rate risk [member] | Fixed interest rate [member] | 1-2 years [Member] | Philippine Peso [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | $ 123 | $ 333 | ||
Interest Rates, description | 3.9000% to 6.4044% | |||
Interest rate | 3.9000% to 6.4044% | |||
Interest rate risk [member] | Fixed interest rate [member] | 1-2 years [Member] | Philippine Peso [Member] | Bottom Of Range [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Interest rate | 3.90% | 3.90% | ||
Interest rates on borrowings | 3.90% | 3.90% | ||
Interest rate risk [member] | Fixed interest rate [member] | 1-2 years [Member] | Philippine Peso [Member] | Top of range [member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Interest rate | 6.7339% | 6.7339% | ||
Interest rates on borrowings | 6.7339% | 6.7339% | ||
Interest rate risk [member] | Fixed interest rate [member] | 2021 [Member] | U.S. Dollars [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | $ 7 | |||
Interest Rates, description | 2.8850% | |||
Interest rate | 2.8850% | |||
Interest rate risk [member] | Fixed interest rate [member] | 2021 [Member] | Philippine Peso [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | $ 319 | 81 | ||
Interest Rates, description | 3.9000% to 6.4044% | |||
Interest rate | 3.9000% to 6.4044% | |||
Interest rate risk [member] | Fixed interest rate [member] | 2021 [Member] | Philippine Peso [Member] | Bottom Of Range [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Interest rate | 3.90% | 3.90% | ||
Interest rates on borrowings | 3.90% | 3.90% | ||
Interest rate risk [member] | Fixed interest rate [member] | 2021 [Member] | Philippine Peso [Member] | Top of range [member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Interest rate | 6.7339% | 6.7339% | ||
Interest rates on borrowings | 6.7339% | 6.7339% | ||
Interest rate risk [member] | Fixed interest rate [member] | 3-5 years [Member] | U.S. Dollars [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | $ 4 | |||
Interest Rates, description | 2.8850% | |||
Interest rate | 2.8850% | |||
Interest rate risk [member] | Fixed interest rate [member] | 3-5 years [Member] | Philippine Peso [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | $ 730 | 618 | ||
Interest Rates, description | 3.9000% to 6.4044% | |||
Interest rate | 3.9000% to 6.4044% | |||
Interest rate risk [member] | Fixed interest rate [member] | 3-5 years [Member] | Philippine Peso [Member] | Bottom Of Range [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Interest rate | 3.90% | 3.90% | ||
Interest rates on borrowings | 3.90% | 3.90% | ||
Interest rate risk [member] | Fixed interest rate [member] | 3-5 years [Member] | Philippine Peso [Member] | Top of range [member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Interest rate | 6.7339% | 6.7339% | ||
Interest rates on borrowings | 6.7339% | 6.7339% | ||
Interest rate risk [member] | Fixed interest rate [member] | 2024 to 2060 [Member] | U.S. Dollars [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Interest Rates, description | — | |||
Interest rate | — | |||
Interest rate risk [member] | Fixed interest rate [member] | 2024 to 2060 [Member] | Philippine Peso [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | $ 1,232 | 1,565 | ||
Interest Rates, description | 3.9000% to 6.4044% | |||
Interest rate | 3.9000% to 6.4044% | |||
Interest rate risk [member] | Fixed interest rate [member] | 2024 to 2060 [Member] | Philippine Peso [Member] | Bottom Of Range [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Interest rate | 4.25% | 4.25% | ||
Interest rates on borrowings | 4.25% | 4.25% | ||
Interest rate risk [member] | Fixed interest rate [member] | 2024 to 2060 [Member] | Philippine Peso [Member] | Top of range [member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Interest rate | 6.7339% | 6.7339% | ||
Interest rates on borrowings | 6.7339% | 6.7339% | ||
Interest rate risk [member] | Floating interest rate [member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | ₱ 32,158 | 644 | ||
Interest rate risk [member] | Floating interest rate [member] | Philippine Peso [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | ₱ 14,610 | ₱ 8,195 | $ 278 | 164 |
Interest Rates, description | — | — | ||
Interest rate | — | — | ||
Interest rate risk [member] | Floating interest rate [member] | Within 12 months [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | 60 | |||
Interest rate risk [member] | Floating interest rate [member] | Within 12 months [Member] | Philippine Peso [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Interest Rates, description | — | — | ||
Interest rate | — | — | ||
Interest rate risk [member] | Floating interest rate [member] | 1-2 years [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | 266 | |||
Interest rate risk [member] | Floating interest rate [member] | 1-2 years [Member] | Philippine Peso [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | 94 | 3 | ||
Interest Rates, description | 0.5000% to 1.0000% over PHP BVAL | 1.0000% over PDST-R2 | ||
Interest rate | 0.5000% to 1.0000% over PHP BVAL | 1.0000% over PDST-R2 | ||
Interest rate risk [member] | Floating interest rate [member] | 2021 [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | 203 | |||
Interest rate risk [member] | Floating interest rate [member] | 2021 [Member] | Philippine Peso [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | 64 | 95 | ||
Interest Rates, description | 0.5000% to 1.0000% over PHP BVAL | 1.0000% over PDST-R2 | ||
Interest rate | 0.5000% to 1.0000% over PHP BVAL | 1.0000% over PDST-R2 | ||
Interest rate risk [member] | Floating interest rate [member] | 3-5 years [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | 65 | |||
Interest rate risk [member] | Floating interest rate [member] | 3-5 years [Member] | Philippine Peso [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | 2 | 66 | ||
Interest Rates, description | 0.5000% to 0.6000% over PHP BVAL | 1.0000% over PDST-R2 | ||
Interest rate | 0.5000% to 0.6000% over PHP BVAL | 1.0000% over PDST-R2 | ||
Interest rate risk [member] | Floating interest rate [member] | 2024 to 2060 [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | 50 | |||
Interest rate risk [member] | Floating interest rate [member] | 2024 to 2060 [Member] | Philippine Peso [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | 118 | |||
Interest Rates, description | 0.5000% to 0.6000% over PHP BVAL | — | ||
Interest rate | 0.5000% to 0.6000% over PHP BVAL | — | ||
Interest rate risk [member] | Fair Value [Member] | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | ₱ 165,875 | 3,320 | ||
Interest rate risk [member] | Fair Value [Member] | Debt Instruments at Amortized Cost [Member] | U.S. Dollars [Member] | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Total assets | 100 | 2 | ||
Interest rate risk [member] | Fair Value [Member] | Debt Instruments at Amortized Cost [Member] | Philippine Peso [Member] | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Total assets | ₱ 148 | 151 | 3 | 3 |
Interest rate risk [member] | Fair Value [Member] | Cash In Bank | U.S. Dollars [Member] | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Total assets | 1,580 | 1,465 | 30 | 29 |
Interest rate risk [member] | Fair Value [Member] | Cash In Bank | Philippine Peso [Member] | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Total assets | 3,017 | 4,468 | 57 | 89 |
Interest rate risk [member] | Fair Value [Member] | Cash In Bank | Other Currencies | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Total assets | ₱ | 4 | 9 | ||
Interest rate risk [member] | Fair Value [Member] | Temporary Cash Investments | U.S. Dollars [Member] | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Total assets | 35,467 | 20,063 | 675 | 402 |
Interest rate risk [member] | Fair Value [Member] | Temporary Cash Investments | Philippine Peso [Member] | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Total assets | 10,204 | 6,491 | 194 | 130 |
Interest rate risk [member] | Fair Value [Member] | Total Assets Excluding Short Term Investments [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | 159,945 | 3,043 | ||
Interest rate risk [member] | Fair Value [Member] | Short Term Investments1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Total assets | 51,585 | 33,821 | 982 | 677 |
Interest rate risk [member] | Fair Value [Member] | Short Term Investments1 | U.S. Dollars [Member] | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Total assets | 1,138 | 1,074 | 22 | 22 |
Interest rate risk [member] | Fair Value [Member] | Short Term Investments1 | Philippine Peso [Member] | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Total assets | 27 | 1 | ||
Interest rate risk [member] | Fair Value [Member] | Fixed interest rate [member] | U.S. Dollars [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | ₱ 1,502 | 28 | ||
Interest Rates, description | — | |||
Interest rate | — | |||
Interest rate risk [member] | Fair Value [Member] | Fixed interest rate [member] | Philippine Peso [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | ₱ 121,868 | ₱ 122,418 | 2,319 | 2,450 |
Interest Rates, description | — | |||
Interest rate | — | |||
Interest rate risk [member] | Fair Value [Member] | Floating interest rate [member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | ₱ 32,158 | 644 | ||
Interest rate risk [member] | Fair Value [Member] | Floating interest rate [member] | Philippine Peso [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | ₱ 14,610 | ₱ 8,195 | 278 | 164 |
Interest Rates, description | — | — | ||
Interest rate | — | — | ||
Interest rate risk [member] | U.S. Dollar Debts [Member] | Floating interest rate [member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Interest Rates, description | — | |||
Interest rate | — | |||
Interest rate risk [member] | U.S. Dollar Debts [Member] | Floating interest rate [member] | U.S. Dollars [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | ₱ 21,964 | 418 | ||
Interest Rates, description | — | |||
Interest rate | — | |||
Interest rate risk [member] | U.S. Dollar Debts [Member] | Floating interest rate [member] | Within 12 months [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Interest Rates, description | 1.2000% to 1.6000% over LIBOR | |||
Interest rate | 1.2000% to 1.6000% over LIBOR | |||
Interest rate risk [member] | U.S. Dollar Debts [Member] | Floating interest rate [member] | Within 12 months [Member] | U.S. Dollars [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | 17 | |||
Interest Rates, description | 0.9500% to 1.1000% over LIBOR | |||
Interest rate | 0.9500% to 1.1000% over LIBOR | |||
Interest rate risk [member] | U.S. Dollar Debts [Member] | Floating interest rate [member] | 1-2 years [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Interest Rates, description | US$LIBOR + 0.7900% to 1.4500% | |||
Interest rate | US$LIBOR + 0.7900% to 1.4500% | |||
Interest rate risk [member] | U.S. Dollar Debts [Member] | Floating interest rate [member] | 1-2 years [Member] | U.S. Dollars [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | 286 | |||
Interest Rates, description | 0.7900% to 1.4500% over LIBOR | |||
Interest rate | 0.7900% to 1.4500% over LIBOR | |||
Interest rate risk [member] | U.S. Dollar Debts [Member] | Floating interest rate [member] | 2021 [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Interest Rates, description | US$LIBOR + 0.7900% to 1.4500% | |||
Interest rate | US$LIBOR + 0.7900% to 1.4500% | |||
Interest rate risk [member] | U.S. Dollar Debts [Member] | Floating interest rate [member] | 2021 [Member] | U.S. Dollars [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | 38 | |||
Interest Rates, description | 0.7900% to 0.9500% over LIBOR | |||
Interest rate | 0.7900% to 0.9500% over LIBOR | |||
Interest rate risk [member] | U.S. Dollar Debts [Member] | Floating interest rate [member] | 3-5 years [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Interest Rates, description | US$LIBOR + 0.7900% to 0.9500% | |||
Interest rate | US$LIBOR + 0.7900% to 0.9500% | |||
Interest rate risk [member] | U.S. Dollar Debts [Member] | Floating interest rate [member] | 3-5 years [Member] | U.S. Dollars [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | 52 | |||
Interest Rates, description | 0.7900% to 1.0500% over LIBOR | |||
Interest rate | 0.7900% to 1.0500% over LIBOR | |||
Interest rate risk [member] | U.S. Dollar Debts [Member] | Floating interest rate [member] | 2024 to 2060 [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Interest Rates, description | US$LIBOR + 1.0500% | |||
Interest rate | US$LIBOR + 1.0500% | |||
Interest rate risk [member] | U.S. Dollar Debts [Member] | Floating interest rate [member] | 2024 to 2060 [Member] | U.S. Dollars [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | 25 | |||
Interest Rates, description | 1.0500% over LIBOR | |||
Interest rate | 1.0500% over LIBOR | |||
Interest rate risk [member] | U.S. Dollar Debts [Member] | Fair Value [Member] | Floating interest rate [member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Interest Rates, description | — | |||
Interest rate | — | |||
Interest rate risk [member] | U.S. Dollar Debts [Member] | Fair Value [Member] | Floating interest rate [member] | U.S. Dollars [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | ₱ 21,965 | $ 418 | ||
Interest Rates, description | — | |||
Interest rate | — | |||
Interest rate risk [member] | U S Dollar Fixed Loans | Fixed interest rate [member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | ₱ 3,050 | 61 | ||
Interest rate risk [member] | U S Dollar Fixed Loans | Fixed interest rate [member] | Within 12 months [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | $ 5 | |||
Interest rate risk [member] | U S Dollar Fixed Loans | Fixed interest rate [member] | Within 12 months [Member] | Bottom Of Range [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Interest rate | 1.41% | 1.41% | ||
Interest rates on borrowings | 1.41% | 1.41% | ||
Interest rate risk [member] | U S Dollar Fixed Loans | Fixed interest rate [member] | 1-2 years [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | $ 37 | |||
Interest rate risk [member] | U S Dollar Fixed Loans | Fixed interest rate [member] | 1-2 years [Member] | Bottom Of Range [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Interest rate | 1.41% | 1.41% | ||
Interest rates on borrowings | 1.41% | 1.41% | ||
Interest rate risk [member] | U S Dollar Fixed Loans | Fixed interest rate [member] | 2021 [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | $ 8 | |||
Interest rate risk [member] | U S Dollar Fixed Loans | Fixed interest rate [member] | 2021 [Member] | Bottom Of Range [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Interest rate | 2.885% | 2.885% | ||
Interest rates on borrowings | 2.885% | 2.885% | ||
Interest rate risk [member] | U S Dollar Fixed Loans | Fixed interest rate [member] | 3-5 years [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | $ 11 | |||
Interest rate risk [member] | U S Dollar Fixed Loans | Fixed interest rate [member] | 3-5 years [Member] | Bottom Of Range [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Interest rate | 2.885% | 2.885% | ||
Interest rates on borrowings | 2.885% | 2.885% | ||
Interest rate risk [member] | U S Dollar Fixed Loans | Fair Value [Member] | Fixed interest rate [member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | ₱ 3,104 | $ 62 | ||
Interest rate risk [member] | Debt Issuance Cost [Member] | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | ₱ | 525 | |||
Interest rate risk [member] | Debt Issuance Cost [Member] | Total Assets Excluding Short Term Investments [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | ₱ | ₱ 418 | |||
Interest rate risk [member] | Debt Issuance Cost [Member] | Fixed interest rate [member] | U.S. Dollars [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | ₱ | ₱ 1 | |||
Interest Rates, description | — | |||
Interest rate | — | |||
Interest rate risk [member] | Debt Issuance Cost [Member] | Fixed interest rate [member] | Philippine Peso [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | ₱ | ₱ 278 | ₱ 335 | ||
Interest Rates, description | — | |||
Interest rate | — | |||
Interest rate risk [member] | Debt Issuance Cost [Member] | Floating interest rate [member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | ₱ | ₱ 170 | |||
Interest rate risk [member] | Debt Issuance Cost [Member] | Floating interest rate [member] | Philippine Peso [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | ₱ | ₱ 45 | ₱ 14 | ||
Interest Rates, description | — | — | ||
Interest rate | — | — | ||
Interest rate risk [member] | Debt Issuance Cost [Member] | U.S. Dollar Debts [Member] | Floating interest rate [member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Interest Rates, description | — | |||
Interest rate | — | |||
Interest rate risk [member] | Debt Issuance Cost [Member] | U.S. Dollar Debts [Member] | Floating interest rate [member] | U.S. Dollars [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | ₱ | ₱ 94 | |||
Interest Rates, description | — | |||
Interest rate | — | |||
Interest rate risk [member] | Debt Issuance Cost [Member] | U S Dollar Fixed Loans | Fixed interest rate [member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | ₱ | ₱ 6 | |||
Interest rate risk [member] | Costs [Member] | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | ₱ | 172,611 | |||
Interest rate risk [member] | Costs [Member] | Debt Instruments at Amortized Cost [Member] | U.S. Dollars [Member] | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Total assets | ₱ | 100 | |||
Interest rate risk [member] | Costs [Member] | Debt Instruments at Amortized Cost [Member] | Philippine Peso [Member] | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Total assets | ₱ | ₱ 150 | 150 | ||
Interest rate risk [member] | Costs [Member] | Cash In Bank | U.S. Dollars [Member] | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Total assets | ₱ | 1,580 | 1,465 | ||
Interest rate risk [member] | Costs [Member] | Cash In Bank | Philippine Peso [Member] | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Total assets | ₱ | 3,017 | 4,468 | ||
Interest rate risk [member] | Costs [Member] | Cash In Bank | Other Currencies | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Total assets | ₱ | 4 | 9 | ||
Interest rate risk [member] | Costs [Member] | Temporary Cash Investments | U.S. Dollars [Member] | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Total assets | ₱ | 35,467 | 20,063 | ||
Interest rate risk [member] | Costs [Member] | Temporary Cash Investments | Philippine Peso [Member] | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Total assets | ₱ | 10,204 | 6,491 | ||
Interest rate risk [member] | Costs [Member] | Total Assets Excluding Short Term Investments [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | ₱ | 176,276 | |||
Interest rate risk [member] | Costs [Member] | Short Term Investments1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Total assets | ₱ | 51,587 | 33,820 | ||
Interest rate risk [member] | Costs [Member] | Short Term Investments1 | U.S. Dollars [Member] | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Total assets | ₱ | 1,138 | 1,074 | ||
Interest rate risk [member] | Costs [Member] | Short Term Investments1 | Philippine Peso [Member] | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Total assets | ₱ | 27 | |||
Interest rate risk [member] | Costs [Member] | Fixed interest rate [member] | U.S. Dollars [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | ₱ | ₱ 1,482 | |||
Interest Rates, description | — | |||
Interest rate | — | |||
Interest rate risk [member] | Costs [Member] | Fixed interest rate [member] | Philippine Peso [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | ₱ | ₱ 138,359 | ₱ 129,398 | ||
Interest Rates, description | — | |||
Interest rate | — | |||
Interest rate risk [member] | Costs [Member] | Floating interest rate [member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | ₱ | ₱ 31,988 | |||
Interest rate risk [member] | Costs [Member] | Floating interest rate [member] | Philippine Peso [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | ₱ | ₱ 14,565 | ₱ 8,181 | ||
Interest Rates, description | — | — | ||
Interest rate | — | — | ||
Interest rate risk [member] | Costs [Member] | U.S. Dollar Debts [Member] | Floating interest rate [member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Interest Rates, description | — | |||
Interest rate | — | |||
Interest rate risk [member] | Costs [Member] | U.S. Dollar Debts [Member] | Floating interest rate [member] | U.S. Dollars [Member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | ₱ | ₱ 21,870 | |||
Interest Rates, description | — | |||
Interest rate | — | |||
Interest rate risk [member] | Costs [Member] | U S Dollar Fixed Loans | Fixed interest rate [member] | Long Term Debt1 | ||||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||||
Long-term Debt | ₱ | ₱ 3,044 |
Financial Assets and Liabili_22
Financial Assets and Liabilities - Summary of Gross Carrying Amount of Financial Assets Not Subject to Impairment (Detail) - PHP (₱) ₱ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure Of Financial Assets [Line Items] | ||
Less: To financial assets at FVPL | ₱ 4,763 | |
Total assets | 95,747 | ₱ 104,220 |
Credit risk [member] | ||
Disclosure Of Financial Assets [Line Items] | ||
Total assets | 5,086 | |
Derivative financial assets - net of current portion [Member] | Credit risk [member] | ||
Disclosure Of Financial Assets [Line Items] | ||
Less: To financial assets at FVPL | 140 | |
Current Portion of Derivative Financial Assets [Member] | Credit risk [member] | ||
Disclosure Of Financial Assets [Line Items] | ||
Less: To financial assets at FVPL | ₱ 183 |
Financial Assets and Liabili_23
Financial Assets and Liabilities - Summary of Maximum Exposure to Credit Risk of Financial Assets Subject to Impairment (Detail) - PHP (₱) ₱ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure Of Reconciliation Of Changes In Loss Allowance And Explanation Of Changes In Gross Carrying Amount For Financial Instruments [Line Items] | ||
Less allowance | ₱ 16,739 | ₱ 14,723 |
Carrying amount | 83,828 | 104,220 |
Costs [Member] | ||
Disclosure Of Reconciliation Of Changes In Loss Allowance And Explanation Of Changes In Gross Carrying Amount For Financial Instruments [Line Items] | ||
Credit exposure | 100,567 | 118,943 |
Stage 1 Lifetime ECL [Member] | ||
Disclosure Of Reconciliation Of Changes In Loss Allowance And Explanation Of Changes In Gross Carrying Amount For Financial Instruments [Line Items] | ||
Less allowance | 236 | |
Carrying amount | 59,772 | |
Stage 1 Lifetime ECL [Member] | Costs [Member] | ||
Disclosure Of Reconciliation Of Changes In Loss Allowance And Explanation Of Changes In Gross Carrying Amount For Financial Instruments [Line Items] | ||
Credit exposure | 60,008 | |
Stage 2 Lifetime ECL [Member] | ||
Disclosure Of Reconciliation Of Changes In Loss Allowance And Explanation Of Changes In Gross Carrying Amount For Financial Instruments [Line Items] | ||
Less allowance | 1,595 | |
Carrying amount | 24,056 | |
Stage 2 Lifetime ECL [Member] | Costs [Member] | ||
Disclosure Of Reconciliation Of Changes In Loss Allowance And Explanation Of Changes In Gross Carrying Amount For Financial Instruments [Line Items] | ||
Credit exposure | 25,651 | |
Stage 3 Lifetime ECL [Member] | ||
Disclosure Of Reconciliation Of Changes In Loss Allowance And Explanation Of Changes In Gross Carrying Amount For Financial Instruments [Line Items] | ||
Less allowance | 14,908 | |
Stage 3 Lifetime ECL [Member] | Costs [Member] | ||
Disclosure Of Reconciliation Of Changes In Loss Allowance And Explanation Of Changes In Gross Carrying Amount For Financial Instruments [Line Items] | ||
Credit exposure | 14,908 | |
High grade [Member] | ||
Disclosure Of Reconciliation Of Changes In Loss Allowance And Explanation Of Changes In Gross Carrying Amount For Financial Instruments [Line Items] | ||
Credit exposure | 67,075 | 83,259 |
High grade [Member] | Stage 1 Lifetime ECL [Member] | ||
Disclosure Of Reconciliation Of Changes In Loss Allowance And Explanation Of Changes In Gross Carrying Amount For Financial Instruments [Line Items] | ||
Credit exposure | 58,299 | |
High grade [Member] | Stage 2 Lifetime ECL [Member] | ||
Disclosure Of Reconciliation Of Changes In Loss Allowance And Explanation Of Changes In Gross Carrying Amount For Financial Instruments [Line Items] | ||
Credit exposure | 8,776 | |
Standard grade [Member] | ||
Disclosure Of Reconciliation Of Changes In Loss Allowance And Explanation Of Changes In Gross Carrying Amount For Financial Instruments [Line Items] | ||
Credit exposure | 9,351 | 9,933 |
Standard grade [Member] | Stage 1 Lifetime ECL [Member] | ||
Disclosure Of Reconciliation Of Changes In Loss Allowance And Explanation Of Changes In Gross Carrying Amount For Financial Instruments [Line Items] | ||
Credit exposure | 1,470 | |
Standard grade [Member] | Stage 2 Lifetime ECL [Member] | ||
Disclosure Of Reconciliation Of Changes In Loss Allowance And Explanation Of Changes In Gross Carrying Amount For Financial Instruments [Line Items] | ||
Credit exposure | 7,881 | |
Substarndard grade [Member] | ||
Disclosure Of Reconciliation Of Changes In Loss Allowance And Explanation Of Changes In Gross Carrying Amount For Financial Instruments [Line Items] | ||
Credit exposure | 7,402 | 11,028 |
Substarndard grade [Member] | Stage 1 Lifetime ECL [Member] | ||
Disclosure Of Reconciliation Of Changes In Loss Allowance And Explanation Of Changes In Gross Carrying Amount For Financial Instruments [Line Items] | ||
Credit exposure | 3 | |
Substarndard grade [Member] | Stage 2 Lifetime ECL [Member] | ||
Disclosure Of Reconciliation Of Changes In Loss Allowance And Explanation Of Changes In Gross Carrying Amount For Financial Instruments [Line Items] | ||
Credit exposure | 7,399 | |
Default [Member] | ||
Disclosure Of Reconciliation Of Changes In Loss Allowance And Explanation Of Changes In Gross Carrying Amount For Financial Instruments [Line Items] | ||
Credit exposure | 16,739 | ₱ 14,723 |
Default [Member] | Stage 1 Lifetime ECL [Member] | ||
Disclosure Of Reconciliation Of Changes In Loss Allowance And Explanation Of Changes In Gross Carrying Amount For Financial Instruments [Line Items] | ||
Credit exposure | 236 | |
Default [Member] | Stage 2 Lifetime ECL [Member] | ||
Disclosure Of Reconciliation Of Changes In Loss Allowance And Explanation Of Changes In Gross Carrying Amount For Financial Instruments [Line Items] | ||
Credit exposure | 1,595 | |
Default [Member] | Stage 3 Lifetime ECL [Member] | ||
Disclosure Of Reconciliation Of Changes In Loss Allowance And Explanation Of Changes In Gross Carrying Amount For Financial Instruments [Line Items] | ||
Credit exposure | ₱ 14,908 |
Financial Assets and Liabili_24
Financial Assets and Liabilities - Summary of Maximum Exposure to Credit Risk (Detail) - PHP (₱) ₱ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum Exposure | ₱ 95,231 | ₱ 103,716 |
Collateral and Other Credit Enhancements | 516 | 504 |
Costs [Member] | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum Exposure | 95,747 | 104,220 |
Financial instruments at amortized cost [Member] | Other financial assets [Member] | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum Exposure | 2,450 | |
Financial instruments at amortized cost [Member] | Other financial assets [Member] | Costs [Member] | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum Exposure | 2,450 | |
Financial instruments at amortized cost [Member] | Debt Instruments at Amortized Cost [Member] | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum Exposure | 150 | |
Financial instruments at amortized cost [Member] | Debt Instruments at Amortized Cost [Member] | Costs [Member] | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum Exposure | 150 | |
Financial instruments at amortized cost [Member] | Cash and Cash Equivalent [member] | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum Exposure | 51,467 | |
Collateral and Other Credit Enhancements | 187 | |
Financial instruments at amortized cost [Member] | Cash and Cash Equivalent [member] | Costs [Member] | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum Exposure | 51,654 | |
Financial instruments at amortized cost [Member] | Short Term Investments1 | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum Exposure | 1,165 | |
Financial instruments at amortized cost [Member] | Short Term Investments1 | Costs [Member] | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum Exposure | 1,165 | |
Financial instruments at amortized cost [Member] | Retail subscribers [Member] | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum Exposure | 9,565 | |
Collateral and Other Credit Enhancements | 55 | |
Financial instruments at amortized cost [Member] | Retail subscribers [Member] | Costs [Member] | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum Exposure | 9,620 | |
Financial instruments at amortized cost [Member] | Corporate subscribers [Member] | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum Exposure | 6,291 | |
Collateral and Other Credit Enhancements | 273 | |
Financial instruments at amortized cost [Member] | Corporate subscribers [Member] | Costs [Member] | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum Exposure | 6,564 | |
Financial instruments at amortized cost [Member] | Foreign administrations [Member] | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum Exposure | 3,306 | |
Financial instruments at amortized cost [Member] | Foreign administrations [Member] | Costs [Member] | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum Exposure | 3,306 | |
Financial instruments at amortized cost [Member] | Domestic carriers [Member] | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum Exposure | 193 | |
Financial instruments at amortized cost [Member] | Domestic carriers [Member] | Costs [Member] | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum Exposure | 193 | |
Financial instruments at amortized cost [Member] | Dealers agents and others [Member] | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum Exposure | 4,372 | |
Collateral and Other Credit Enhancements | 1 | |
Financial instruments at amortized cost [Member] | Dealers agents and others [Member] | Costs [Member] | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum Exposure | 4,373 | |
Financial assets at fair value through profit or loss, category [member] | Other financial assets [Member] | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum Exposure | 6,833 | |
Financial assets at fair value through profit or loss, category [member] | Other financial assets [Member] | Costs [Member] | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum Exposure | 6,833 | |
Financial assets at fair value through profit or loss, category [member] | Financial assets at FVPL [Member] | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum Exposure | 4,763 | |
Financial assets at fair value through profit or loss, category [member] | Financial assets at FVPL [Member] | Costs [Member] | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum Exposure | 4,763 | |
Financial assets at fair value through profit or loss, category [member] | Interest rate swap contract [member] | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum Exposure | 227 | |
Financial assets at fair value through profit or loss, category [member] | Interest rate swap contract [member] | Costs [Member] | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum Exposure | 227 | |
Financial assets at fair value through profit or loss, category [member] | Long-term currency swap [Member] | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum Exposure | 83 | |
Financial assets at fair value through profit or loss, category [member] | Long-term currency swap [Member] | Costs [Member] | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum Exposure | 83 | |
Financial assets at fair value through profit or loss, category [member] | Debt instruments at fair value through other comprehensive income [Member] | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum Exposure | 4,353 | |
Financial assets at fair value through profit or loss, category [member] | Debt instruments at fair value through other comprehensive income [Member] | Costs [Member] | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum Exposure | 4,353 | |
Financial assets at fair value through profit or loss, category [member] | Currency Swap Contract [Member] | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum Exposure | 13 | |
Financial assets at fair value through profit or loss, category [member] | Currency Swap Contract [Member] | Costs [Member] | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum Exposure | ₱ 13 | |
Loans and receivables, category [member] | Cash and Cash Equivalent [member] | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum Exposure | 32,670 | |
Collateral and Other Credit Enhancements | 235 | |
Loans and receivables, category [member] | Cash and Cash Equivalent [member] | Costs [Member] | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum Exposure | 32,905 | |
Loans and receivables, category [member] | Short Term Investments1 | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum Exposure | 1,074 | |
Loans and receivables, category [member] | Short Term Investments1 | Costs [Member] | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum Exposure | 1,074 | |
Loans and receivables, category [member] | Retail subscribers [Member] | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum Exposure | 9,135 | |
Collateral and Other Credit Enhancements | 48 | |
Loans and receivables, category [member] | Retail subscribers [Member] | Costs [Member] | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum Exposure | 9,183 | |
Loans and receivables, category [member] | Corporate subscribers [Member] | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum Exposure | 6,117 | |
Collateral and Other Credit Enhancements | 220 | |
Loans and receivables, category [member] | Corporate subscribers [Member] | Costs [Member] | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum Exposure | 6,337 | |
Loans and receivables, category [member] | Foreign administrations [Member] | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum Exposure | 5,579 | |
Loans and receivables, category [member] | Foreign administrations [Member] | Costs [Member] | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum Exposure | 5,579 | |
Loans and receivables, category [member] | Domestic carriers [Member] | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum Exposure | 382 | |
Loans and receivables, category [member] | Domestic carriers [Member] | Costs [Member] | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum Exposure | 382 | |
Loans and receivables, category [member] | Dealers agents and others [Member] | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum Exposure | 12,279 | |
Collateral and Other Credit Enhancements | 1 | |
Loans and receivables, category [member] | Dealers agents and others [Member] | Costs [Member] | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum Exposure | 12,280 | |
Loans and receivables, category [member] | Advances and other noncurrent assets [Member] | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum Exposure | 20,679 | |
Loans and receivables, category [member] | Advances and other noncurrent assets [Member] | Costs [Member] | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum Exposure | 20,679 | |
Loans and receivables, category [member] | Investment in debt securities and other long term investments [Member] | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum Exposure | 100 | |
Loans and receivables, category [member] | Investment in debt securities and other long term investments [Member] | Costs [Member] | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum Exposure | 100 | |
HTM investments [Member] | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum Exposure | 15,165 | |
HTM investments [Member] | Costs [Member] | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum Exposure | 15,165 | |
HTM investments [Member] | Investment in debt securities and other long term investments [Member] | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum Exposure | 150 | |
HTM investments [Member] | Investment in debt securities and other long term investments [Member] | Costs [Member] | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum Exposure | 150 | |
Derivatives Designated As Hedges | Interest rate swap contract [member] | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum Exposure | 146 | |
Derivatives Designated As Hedges | Interest rate swap contract [member] | Costs [Member] | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum Exposure | 146 | |
Derivatives Designated As Hedges | Long-term currency swap [Member] | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum Exposure | 240 | |
Derivatives Designated As Hedges | Long-term currency swap [Member] | Costs [Member] | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum Exposure | ₱ 240 |
Financial Assets and Liabili_25
Financial Assets and Liabilities - Summary of Information Regarding Credit Quality by Class of Financial Assets (Detail) - PHP (₱) ₱ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | ₱ 95,747 | ₱ 104,220 |
Loans and receivables, category [member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 88,519 | |
HTM investments [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 150 | |
Available-for-sale financial investments [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 15,165 | |
Derivatives Used For Hedging | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 386 | |
Financial assets neither past due nor impaired [member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 88,345 | 93,192 |
Financial assets neither past due nor impaired [member] | Loans and receivables, category [member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 77,491 | |
Financial assets neither past due nor impaired [member] | HTM investments [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 150 | |
Financial assets neither past due nor impaired [member] | Available-for-sale financial investments [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 15,165 | |
Financial assets neither past due nor impaired [member] | Derivatives Used For Hedging | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 386 | |
Costs [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 112,486 | 118,943 |
Costs [Member] | Loans and receivables, category [member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 103,242 | |
Costs [Member] | HTM investments [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 150 | |
Costs [Member] | Available-for-sale financial investments [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 15,165 | |
Costs [Member] | Derivatives Used For Hedging | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 386 | |
Costs [Member] | Financial assets neither past due nor impaired [member] | Class A | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 78,881 | 83,259 |
Costs [Member] | Financial assets neither past due nor impaired [member] | Class B | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 9,464 | 9,933 |
Costs [Member] | Financial assets neither past due nor impaired [member] | Loans and receivables, category [member] | Class A | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 67,644 | |
Costs [Member] | Financial assets neither past due nor impaired [member] | Loans and receivables, category [member] | Class B | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 9,847 | |
Costs [Member] | Financial assets neither past due nor impaired [member] | HTM investments [Member] | Class A | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 150 | |
Costs [Member] | Financial assets neither past due nor impaired [member] | Available-for-sale financial investments [Member] | Class A | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 15,079 | |
Costs [Member] | Financial assets neither past due nor impaired [member] | Available-for-sale financial investments [Member] | Class B | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 86 | |
Costs [Member] | Financial assets neither past due nor impaired [member] | Derivatives Used For Hedging | Class A | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 386 | |
Costs [Member] | Financial assets past due but not impaired [member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 7,402 | 11,028 |
Costs [Member] | Financial assets past due but not impaired [member] | Loans and receivables, category [member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 11,028 | |
Costs [Member] | Impaired [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 16,739 | 14,723 |
Costs [Member] | Impaired [Member] | Loans and receivables, category [member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 14,723 | |
Financial instruments at amortized cost [Member] | Costs [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 96,214 | |
Financial instruments at amortized cost [Member] | Costs [Member] | Other financial assets [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 2,686 | |
Financial instruments at amortized cost [Member] | Costs [Member] | Debt Instruments at Amortized Cost [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 150 | |
Financial instruments at amortized cost [Member] | Costs [Member] | Cash and Cash Equivalent [member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 51,654 | |
Financial instruments at amortized cost [Member] | Costs [Member] | Short Term Investments1 | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 1,165 | |
Financial instruments at amortized cost [Member] | Costs [Member] | Retail subscribers [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 19,444 | |
Financial instruments at amortized cost [Member] | Costs [Member] | Corporate subscribers [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 11,073 | |
Financial instruments at amortized cost [Member] | Costs [Member] | Foreign administrations [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 4,225 | |
Financial instruments at amortized cost [Member] | Costs [Member] | Domestic carriers [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 270 | |
Financial instruments at amortized cost [Member] | Costs [Member] | Dealers agents and others [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 5,547 | |
Financial instruments at amortized cost [Member] | Costs [Member] | Financial assets neither past due nor impaired [member] | Class A | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 62,722 | |
Financial instruments at amortized cost [Member] | Costs [Member] | Financial assets neither past due nor impaired [member] | Class B | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 9,351 | |
Financial instruments at amortized cost [Member] | Costs [Member] | Financial assets neither past due nor impaired [member] | Other financial assets [Member] | Class A | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 1,221 | |
Financial instruments at amortized cost [Member] | Costs [Member] | Financial assets neither past due nor impaired [member] | Other financial assets [Member] | Class B | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 1,226 | |
Financial instruments at amortized cost [Member] | Costs [Member] | Financial assets neither past due nor impaired [member] | Debt Instruments at Amortized Cost [Member] | Class A | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 150 | |
Financial instruments at amortized cost [Member] | Costs [Member] | Financial assets neither past due nor impaired [member] | Cash and Cash Equivalent [member] | Class A | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 51,410 | |
Financial instruments at amortized cost [Member] | Costs [Member] | Financial assets neither past due nor impaired [member] | Cash and Cash Equivalent [member] | Class B | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 244 | |
Financial instruments at amortized cost [Member] | Costs [Member] | Financial assets neither past due nor impaired [member] | Short Term Investments1 | Class A | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 1,165 | |
Financial instruments at amortized cost [Member] | Costs [Member] | Financial assets neither past due nor impaired [member] | Retail subscribers [Member] | Class A | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 4,125 | |
Financial instruments at amortized cost [Member] | Costs [Member] | Financial assets neither past due nor impaired [member] | Retail subscribers [Member] | Class B | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 3,577 | |
Financial instruments at amortized cost [Member] | Costs [Member] | Financial assets neither past due nor impaired [member] | Corporate subscribers [Member] | Class A | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 2,806 | |
Financial instruments at amortized cost [Member] | Costs [Member] | Financial assets neither past due nor impaired [member] | Corporate subscribers [Member] | Class B | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 1,519 | |
Financial instruments at amortized cost [Member] | Costs [Member] | Financial assets neither past due nor impaired [member] | Foreign administrations [Member] | Class A | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 593 | |
Financial instruments at amortized cost [Member] | Costs [Member] | Financial assets neither past due nor impaired [member] | Foreign administrations [Member] | Class B | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 850 | |
Financial instruments at amortized cost [Member] | Costs [Member] | Financial assets neither past due nor impaired [member] | Domestic carriers [Member] | Class A | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 29 | |
Financial instruments at amortized cost [Member] | Costs [Member] | Financial assets neither past due nor impaired [member] | Domestic carriers [Member] | Class B | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 49 | |
Financial instruments at amortized cost [Member] | Costs [Member] | Financial assets neither past due nor impaired [member] | Dealers agents and others [Member] | Class A | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 1,223 | |
Financial instruments at amortized cost [Member] | Costs [Member] | Financial assets neither past due nor impaired [member] | Dealers agents and others [Member] | Class B | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 1,886 | |
Financial instruments at amortized cost [Member] | Costs [Member] | Financial assets past due but not impaired [member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 7,402 | |
Financial instruments at amortized cost [Member] | Costs [Member] | Financial assets past due but not impaired [member] | Other financial assets [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 3 | |
Financial instruments at amortized cost [Member] | Costs [Member] | Financial assets past due but not impaired [member] | Retail subscribers [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 1,918 | |
Financial instruments at amortized cost [Member] | Costs [Member] | Financial assets past due but not impaired [member] | Corporate subscribers [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 2,239 | |
Financial instruments at amortized cost [Member] | Costs [Member] | Financial assets past due but not impaired [member] | Foreign administrations [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 1,863 | |
Financial instruments at amortized cost [Member] | Costs [Member] | Financial assets past due but not impaired [member] | Domestic carriers [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 115 | |
Financial instruments at amortized cost [Member] | Costs [Member] | Financial assets past due but not impaired [member] | Dealers agents and others [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 1,264 | |
Financial instruments at amortized cost [Member] | Costs [Member] | Impaired [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 16,739 | |
Financial instruments at amortized cost [Member] | Costs [Member] | Impaired [Member] | Other financial assets [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 236 | |
Financial instruments at amortized cost [Member] | Costs [Member] | Impaired [Member] | Retail subscribers [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 9,824 | |
Financial instruments at amortized cost [Member] | Costs [Member] | Impaired [Member] | Corporate subscribers [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 4,509 | |
Financial instruments at amortized cost [Member] | Costs [Member] | Impaired [Member] | Foreign administrations [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 919 | |
Financial instruments at amortized cost [Member] | Costs [Member] | Impaired [Member] | Domestic carriers [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 77 | |
Financial instruments at amortized cost [Member] | Costs [Member] | Impaired [Member] | Dealers agents and others [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 1,174 | |
Financial assets at fair value through profit or loss, category [member] | Costs [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 11,919 | |
Financial assets at fair value through profit or loss, category [member] | Costs [Member] | Other financial assets [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 6,833 | |
Financial assets at fair value through profit or loss, category [member] | Costs [Member] | Financial assets at FVPL [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 4,763 | |
Financial assets at fair value through profit or loss, category [member] | Costs [Member] | Interest rate swap contract [member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 227 | |
Financial assets at fair value through profit or loss, category [member] | Costs [Member] | Long-term currency swap [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 83 | |
Financial assets at fair value through profit or loss, category [member] | Costs [Member] | Short Term Currency Swap | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 13 | |
Financial assets at fair value through profit or loss, category [member] | Costs [Member] | Financial assets neither past due nor impaired [member] | Class A | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 11,806 | |
Financial assets at fair value through profit or loss, category [member] | Costs [Member] | Financial assets neither past due nor impaired [member] | Class B | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 113 | |
Financial assets at fair value through profit or loss, category [member] | Costs [Member] | Financial assets neither past due nor impaired [member] | Other financial assets [Member] | Class A | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 6,833 | |
Financial assets at fair value through profit or loss, category [member] | Costs [Member] | Financial assets neither past due nor impaired [member] | Financial assets at FVPL [Member] | Class A | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 4,650 | |
Financial assets at fair value through profit or loss, category [member] | Costs [Member] | Financial assets neither past due nor impaired [member] | Financial assets at FVPL [Member] | Class B | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 113 | |
Financial assets at fair value through profit or loss, category [member] | Costs [Member] | Financial assets neither past due nor impaired [member] | Interest rate swap contract [member] | Class A | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 227 | |
Financial assets at fair value through profit or loss, category [member] | Costs [Member] | Financial assets neither past due nor impaired [member] | Long-term currency swap [Member] | Class A | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 83 | |
Financial assets at fair value through profit or loss, category [member] | Costs [Member] | Financial assets neither past due nor impaired [member] | Short Term Currency Swap | Class A | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 13 | |
Financial assets at fair value through other comprehensive income, category [member] | Costs [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 4,353 | |
Financial assets at fair value through other comprehensive income, category [member] | Costs [Member] | Debt instruments at fair value through other comprehensive income [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 4,353 | |
Financial assets at fair value through other comprehensive income, category [member] | Costs [Member] | Financial assets neither past due nor impaired [member] | Class A | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 4,353 | |
Financial assets at fair value through other comprehensive income, category [member] | Costs [Member] | Financial assets neither past due nor impaired [member] | Debt instruments at fair value through other comprehensive income [Member] | Class A | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | ₱ 4,353 | |
Advances and other noncurrent assets [Member] | Costs [Member] | Loans and receivables, category [member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 20,901 | |
Advances and other noncurrent assets [Member] | Costs [Member] | Financial assets neither past due nor impaired [member] | Loans and receivables, category [member] | Class A | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 19,202 | |
Advances and other noncurrent assets [Member] | Costs [Member] | Financial assets neither past due nor impaired [member] | Loans and receivables, category [member] | Class B | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 1,474 | |
Advances and other noncurrent assets [Member] | Costs [Member] | Financial assets past due but not impaired [member] | Loans and receivables, category [member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 3 | |
Advances and other noncurrent assets [Member] | Costs [Member] | Impaired [Member] | Loans and receivables, category [member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 222 | |
Cash and Cash Equivalent [member] | Financial assets neither past due nor impaired [member] | Loans and receivables, category [member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 32,905 | |
Cash and Cash Equivalent [member] | Costs [Member] | Loans and receivables, category [member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 32,905 | |
Cash and Cash Equivalent [member] | Costs [Member] | Financial assets neither past due nor impaired [member] | Loans and receivables, category [member] | Class A | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 32,705 | |
Cash and Cash Equivalent [member] | Costs [Member] | Financial assets neither past due nor impaired [member] | Loans and receivables, category [member] | Class B | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 200 | |
Short Term Investments1 | Financial assets neither past due nor impaired [member] | Loans and receivables, category [member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 1,074 | |
Short Term Investments1 | Costs [Member] | Loans and receivables, category [member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 1,074 | |
Short Term Investments1 | Costs [Member] | Financial assets neither past due nor impaired [member] | Loans and receivables, category [member] | Class A | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 1,074 | |
Investment in debt securities and other long term investments [Member] | Financial assets neither past due nor impaired [member] | Loans and receivables, category [member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 100 | |
Investment in debt securities and other long term investments [Member] | Financial assets neither past due nor impaired [member] | HTM investments [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 150 | |
Investment in debt securities and other long term investments [Member] | Costs [Member] | Loans and receivables, category [member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 100 | |
Investment in debt securities and other long term investments [Member] | Costs [Member] | HTM investments [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 150 | |
Investment in debt securities and other long term investments [Member] | Costs [Member] | Financial assets neither past due nor impaired [member] | Loans and receivables, category [member] | Class A | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 100 | |
Investment in debt securities and other long term investments [Member] | Costs [Member] | Financial assets neither past due nor impaired [member] | HTM investments [Member] | Class A | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 150 | |
Retail subscribers [Member] | Financial assets neither past due nor impaired [member] | Loans and receivables, category [member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 7,903 | |
Retail subscribers [Member] | Costs [Member] | Loans and receivables, category [member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 17,961 | |
Retail subscribers [Member] | Costs [Member] | Financial assets neither past due nor impaired [member] | Loans and receivables, category [member] | Class A | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 2,984 | |
Retail subscribers [Member] | Costs [Member] | Financial assets neither past due nor impaired [member] | Loans and receivables, category [member] | Class B | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 4,919 | |
Retail subscribers [Member] | Costs [Member] | Financial assets past due but not impaired [member] | Loans and receivables, category [member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 1,280 | |
Retail subscribers [Member] | Costs [Member] | Impaired [Member] | Loans and receivables, category [member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 8,778 | |
Corporate subscribers [Member] | Financial assets neither past due nor impaired [member] | Loans and receivables, category [member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 4,268 | |
Corporate subscribers [Member] | Costs [Member] | Loans and receivables, category [member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 9,641 | |
Corporate subscribers [Member] | Costs [Member] | Financial assets neither past due nor impaired [member] | Loans and receivables, category [member] | Class A | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 2,035 | |
Corporate subscribers [Member] | Costs [Member] | Financial assets neither past due nor impaired [member] | Loans and receivables, category [member] | Class B | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 2,233 | |
Corporate subscribers [Member] | Costs [Member] | Financial assets past due but not impaired [member] | Loans and receivables, category [member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 2,069 | |
Corporate subscribers [Member] | Costs [Member] | Impaired [Member] | Loans and receivables, category [member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 3,304 | |
Foreign administrations [Member] | Financial assets neither past due nor impaired [member] | Loans and receivables, category [member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 1,710 | |
Foreign administrations [Member] | Costs [Member] | Loans and receivables, category [member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 6,517 | |
Foreign administrations [Member] | Costs [Member] | Financial assets neither past due nor impaired [member] | Loans and receivables, category [member] | Class A | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 838 | |
Foreign administrations [Member] | Costs [Member] | Financial assets neither past due nor impaired [member] | Loans and receivables, category [member] | Class B | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 872 | |
Foreign administrations [Member] | Costs [Member] | Financial assets past due but not impaired [member] | Loans and receivables, category [member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 3,869 | |
Foreign administrations [Member] | Costs [Member] | Impaired [Member] | Loans and receivables, category [member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 938 | |
Domestic carriers [Member] | Financial assets neither past due nor impaired [member] | Loans and receivables, category [member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 149 | |
Domestic carriers [Member] | Costs [Member] | Loans and receivables, category [member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 457 | |
Domestic carriers [Member] | Costs [Member] | Financial assets neither past due nor impaired [member] | Loans and receivables, category [member] | Class A | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 76 | |
Domestic carriers [Member] | Costs [Member] | Financial assets neither past due nor impaired [member] | Loans and receivables, category [member] | Class B | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 73 | |
Domestic carriers [Member] | Costs [Member] | Financial assets past due but not impaired [member] | Loans and receivables, category [member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 233 | |
Domestic carriers [Member] | Costs [Member] | Impaired [Member] | Loans and receivables, category [member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 75 | |
Dealers agents and others [Member] | Financial assets neither past due nor impaired [member] | Loans and receivables, category [member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 8,706 | |
Dealers agents and others [Member] | Costs [Member] | Loans and receivables, category [member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 13,686 | |
Dealers agents and others [Member] | Costs [Member] | Financial assets neither past due nor impaired [member] | Loans and receivables, category [member] | Class A | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 8,630 | |
Dealers agents and others [Member] | Costs [Member] | Financial assets neither past due nor impaired [member] | Loans and receivables, category [member] | Class B | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 76 | |
Dealers agents and others [Member] | Costs [Member] | Financial assets past due but not impaired [member] | Loans and receivables, category [member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 3,574 | |
Dealers agents and others [Member] | Costs [Member] | Impaired [Member] | Loans and receivables, category [member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 1,406 | |
Long-term currency swap [Member] | Financial assets neither past due nor impaired [member] | Derivatives Used For Hedging | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 240 | |
Long-term currency swap [Member] | Costs [Member] | Derivatives Used For Hedging | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 240 | |
Long-term currency swap [Member] | Costs [Member] | Financial assets neither past due nor impaired [member] | Derivatives Used For Hedging | Class A | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 240 | |
Interest rate swap contract [member] | Financial assets neither past due nor impaired [member] | Derivatives Used For Hedging | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 146 | |
Interest rate swap contract [member] | Costs [Member] | Derivatives Used For Hedging | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 146 | |
Interest rate swap contract [member] | Costs [Member] | Financial assets neither past due nor impaired [member] | Derivatives Used For Hedging | Class A | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | ₱ 146 |
Financial Assets and Liabili_26
Financial Assets and Liabilities - Summary of Aging Analysis of Past Due But not Impaired Class of Financial Assets (Detail) - PHP (₱) ₱ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | ₱ 95,747 | ₱ 104,220 |
Costs [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 112,486 | 118,943 |
Financial instruments at amortized cost [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 79,475 | |
Financial instruments at amortized cost [Member] | Costs [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 96,214 | |
Financial instruments at amortized cost [Member] | Costs [Member] | Other financial assets [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 2,686 | |
Financial instruments at amortized cost [Member] | Costs [Member] | Debt Instruments at Amortized Cost [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 150 | |
Financial instruments at amortized cost [Member] | Costs [Member] | Cash and Cash Equivalent [member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 51,654 | |
Financial instruments at amortized cost [Member] | Costs [Member] | Short Term Investments1 | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 1,165 | |
Financial instruments at amortized cost [Member] | Costs [Member] | Retail subscribers [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 19,444 | |
Financial instruments at amortized cost [Member] | Costs [Member] | Corporate subscribers [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 11,073 | |
Financial instruments at amortized cost [Member] | Costs [Member] | Foreign administrations [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 4,225 | |
Financial instruments at amortized cost [Member] | Costs [Member] | Domestic carriers [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 270 | |
Financial instruments at amortized cost [Member] | Costs [Member] | Dealers agents and others [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 5,547 | |
Financial instruments at FVPL [Member] | Costs [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 11,919 | |
Financial instruments at FVPL [Member] | Costs [Member] | Other financial assets [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 6,833 | |
Financial instruments at FVPL [Member] | Costs [Member] | Financial assets at FVPL [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 4,763 | |
Financial instruments at FVPL [Member] | Costs [Member] | Interest rate swap contract [member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 227 | |
Financial instruments at FVPL [Member] | Costs [Member] | Long-term currency swap [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 83 | |
Financial instruments at FVPL [Member] | Costs [Member] | Short Term Currency Swap | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 13 | |
Financial assets at fair value through other comprehensive income, category [member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 4,353 | |
Financial assets at fair value through other comprehensive income, category [member] | Costs [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 4,353 | |
Financial assets at fair value through other comprehensive income, category [member] | Costs [Member] | Debt instruments at fair value through other comprehensive income [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 4,353 | |
Loans and receivables, category [member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 88,519 | |
Loans and receivables, category [member] | Costs [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 103,242 | |
Loans and receivables, category [member] | Costs [Member] | Cash and Cash Equivalent [member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 32,905 | |
Loans and receivables, category [member] | Costs [Member] | Short Term Investments1 | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 1,074 | |
Loans and receivables, category [member] | Costs [Member] | Retail subscribers [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 17,961 | |
Loans and receivables, category [member] | Costs [Member] | Corporate subscribers [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 9,641 | |
Loans and receivables, category [member] | Costs [Member] | Foreign administrations [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 6,517 | |
Loans and receivables, category [member] | Costs [Member] | Domestic carriers [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 457 | |
Loans and receivables, category [member] | Costs [Member] | Dealers agents and others [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 13,686 | |
Loans and receivables, category [member] | Costs [Member] | Advances and other noncurrent assets [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 20,901 | |
Loans and receivables, category [member] | Costs [Member] | Investment in debt securities and other long term investments [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 100 | |
HTM investments [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 150 | |
HTM investments [Member] | Costs [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 150 | |
HTM investments [Member] | Costs [Member] | Investment in debt securities and other long term investments [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 150 | |
Available-for-sale financial investments [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 15,165 | |
Available-for-sale financial investments [Member] | Costs [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 15,165 | |
Derivatives Used For Hedging | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 386 | |
Derivatives Used For Hedging | Costs [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 386 | |
Derivatives Used For Hedging | Costs [Member] | Interest rate swap contract [member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 146 | |
Derivatives Used For Hedging | Costs [Member] | Long-term currency swap [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 240 | |
Financial assets neither past due nor impaired [member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 88,345 | 93,192 |
Financial assets neither past due nor impaired [member] | Financial instruments at amortized cost [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 72,073 | |
Financial assets neither past due nor impaired [member] | Financial instruments at amortized cost [Member] | Other financial assets [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 2,447 | |
Financial assets neither past due nor impaired [member] | Financial instruments at amortized cost [Member] | Debt Instruments at Amortized Cost [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 150 | |
Financial assets neither past due nor impaired [member] | Financial instruments at amortized cost [Member] | Cash and Cash Equivalent [member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 51,654 | |
Financial assets neither past due nor impaired [member] | Financial instruments at amortized cost [Member] | Short Term Investments1 | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 1,165 | |
Financial assets neither past due nor impaired [member] | Financial instruments at amortized cost [Member] | Retail subscribers [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 7,702 | |
Financial assets neither past due nor impaired [member] | Financial instruments at amortized cost [Member] | Corporate subscribers [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 4,325 | |
Financial assets neither past due nor impaired [member] | Financial instruments at amortized cost [Member] | Foreign administrations [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 1,443 | |
Financial assets neither past due nor impaired [member] | Financial instruments at amortized cost [Member] | Domestic carriers [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 78 | |
Financial assets neither past due nor impaired [member] | Financial instruments at amortized cost [Member] | Dealers agents and others [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 3,109 | |
Financial assets neither past due nor impaired [member] | Financial instruments at FVPL [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 11,919 | |
Financial assets neither past due nor impaired [member] | Financial instruments at FVPL [Member] | Other financial assets [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 6,833 | |
Financial assets neither past due nor impaired [member] | Financial instruments at FVPL [Member] | Financial assets at FVPL [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 4,763 | |
Financial assets neither past due nor impaired [member] | Financial instruments at FVPL [Member] | Interest rate swap contract [member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 227 | |
Financial assets neither past due nor impaired [member] | Financial instruments at FVPL [Member] | Long-term currency swap [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 83 | |
Financial assets neither past due nor impaired [member] | Financial instruments at FVPL [Member] | Short Term Currency Swap | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 13 | |
Financial assets neither past due nor impaired [member] | Financial assets at fair value through other comprehensive income, category [member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 4,353 | |
Financial assets neither past due nor impaired [member] | Financial assets at fair value through other comprehensive income, category [member] | Debt instruments at fair value through other comprehensive income [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 4,353 | |
Financial assets neither past due nor impaired [member] | Loans and receivables, category [member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 77,491 | |
Financial assets neither past due nor impaired [member] | Loans and receivables, category [member] | Cash and Cash Equivalent [member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 32,905 | |
Financial assets neither past due nor impaired [member] | Loans and receivables, category [member] | Short Term Investments1 | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 1,074 | |
Financial assets neither past due nor impaired [member] | Loans and receivables, category [member] | Retail subscribers [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 7,903 | |
Financial assets neither past due nor impaired [member] | Loans and receivables, category [member] | Corporate subscribers [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 4,268 | |
Financial assets neither past due nor impaired [member] | Loans and receivables, category [member] | Foreign administrations [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 1,710 | |
Financial assets neither past due nor impaired [member] | Loans and receivables, category [member] | Domestic carriers [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 149 | |
Financial assets neither past due nor impaired [member] | Loans and receivables, category [member] | Dealers agents and others [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 8,706 | |
Financial assets neither past due nor impaired [member] | Loans and receivables, category [member] | Advances and other noncurrent assets [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 20,676 | |
Financial assets neither past due nor impaired [member] | Loans and receivables, category [member] | Investment in debt securities and other long term investments [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 100 | |
Financial assets neither past due nor impaired [member] | HTM investments [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 150 | |
Financial assets neither past due nor impaired [member] | HTM investments [Member] | Investment in debt securities and other long term investments [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 150 | |
Financial assets neither past due nor impaired [member] | Available-for-sale financial investments [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 15,165 | |
Financial assets neither past due nor impaired [member] | Derivatives Used For Hedging | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 386 | |
Financial assets neither past due nor impaired [member] | Derivatives Used For Hedging | Interest rate swap contract [member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 146 | |
Financial assets neither past due nor impaired [member] | Derivatives Used For Hedging | Long-term currency swap [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 240 | |
Financial assets past due but not impaired [member] | Costs [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 7,402 | 11,028 |
Financial assets past due but not impaired [member] | Loans and receivables, category [member] | Costs [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 11,028 | |
Financial assets past due but not impaired [member] | Loans and receivables, category [member] | Costs [Member] | Retail subscribers [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 1,280 | |
Financial assets past due but not impaired [member] | Loans and receivables, category [member] | Costs [Member] | Corporate subscribers [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 2,069 | |
Financial assets past due but not impaired [member] | Loans and receivables, category [member] | Costs [Member] | Foreign administrations [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 3,869 | |
Financial assets past due but not impaired [member] | Loans and receivables, category [member] | Costs [Member] | Domestic carriers [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 233 | |
Financial assets past due but not impaired [member] | Loans and receivables, category [member] | Costs [Member] | Dealers agents and others [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 3,574 | |
Financial assets past due but not impaired [member] | One to sixty days [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 3,262 | 3,261 |
Financial assets past due but not impaired [member] | One to sixty days [Member] | Financial instruments at amortized cost [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 3,262 | |
Financial assets past due but not impaired [member] | One to sixty days [Member] | Financial instruments at amortized cost [Member] | Retail subscribers [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 1,747 | |
Financial assets past due but not impaired [member] | One to sixty days [Member] | Financial instruments at amortized cost [Member] | Corporate subscribers [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 957 | |
Financial assets past due but not impaired [member] | One to sixty days [Member] | Financial instruments at amortized cost [Member] | Foreign administrations [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 139 | |
Financial assets past due but not impaired [member] | One to sixty days [Member] | Financial instruments at amortized cost [Member] | Domestic carriers [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 52 | |
Financial assets past due but not impaired [member] | One to sixty days [Member] | Financial instruments at amortized cost [Member] | Dealers agents and others [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 367 | |
Financial assets past due but not impaired [member] | One to sixty days [Member] | Loans and receivables, category [member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 3,261 | |
Financial assets past due but not impaired [member] | One to sixty days [Member] | Loans and receivables, category [member] | Retail subscribers [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 927 | |
Financial assets past due but not impaired [member] | One to sixty days [Member] | Loans and receivables, category [member] | Corporate subscribers [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 724 | |
Financial assets past due but not impaired [member] | One to sixty days [Member] | Loans and receivables, category [member] | Foreign administrations [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 646 | |
Financial assets past due but not impaired [member] | One to sixty days [Member] | Loans and receivables, category [member] | Domestic carriers [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 84 | |
Financial assets past due but not impaired [member] | One to sixty days [Member] | Loans and receivables, category [member] | Dealers agents and others [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 880 | |
Financial assets past due but not impaired [member] | Later than two months and not later than three months [member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 398 | 703 |
Financial assets past due but not impaired [member] | Later than two months and not later than three months [member] | Financial instruments at amortized cost [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 398 | |
Financial assets past due but not impaired [member] | Later than two months and not later than three months [member] | Financial instruments at amortized cost [Member] | Retail subscribers [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 62 | |
Financial assets past due but not impaired [member] | Later than two months and not later than three months [member] | Financial instruments at amortized cost [Member] | Corporate subscribers [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 101 | |
Financial assets past due but not impaired [member] | Later than two months and not later than three months [member] | Financial instruments at amortized cost [Member] | Foreign administrations [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 131 | |
Financial assets past due but not impaired [member] | Later than two months and not later than three months [member] | Financial instruments at amortized cost [Member] | Domestic carriers [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 21 | |
Financial assets past due but not impaired [member] | Later than two months and not later than three months [member] | Financial instruments at amortized cost [Member] | Dealers agents and others [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 83 | |
Financial assets past due but not impaired [member] | Later than two months and not later than three months [member] | Loans and receivables, category [member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 703 | |
Financial assets past due but not impaired [member] | Later than two months and not later than three months [member] | Loans and receivables, category [member] | Retail subscribers [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 20 | |
Financial assets past due but not impaired [member] | Later than two months and not later than three months [member] | Loans and receivables, category [member] | Corporate subscribers [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 267 | |
Financial assets past due but not impaired [member] | Later than two months and not later than three months [member] | Loans and receivables, category [member] | Foreign administrations [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 217 | |
Financial assets past due but not impaired [member] | Later than two months and not later than three months [member] | Loans and receivables, category [member] | Domestic carriers [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 53 | |
Financial assets past due but not impaired [member] | Later than two months and not later than three months [member] | Loans and receivables, category [member] | Dealers agents and others [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 146 | |
Financial assets past due but not impaired [member] | Later than three months [member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 3,742 | 7,064 |
Financial assets past due but not impaired [member] | Later than three months [member] | Financial instruments at amortized cost [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 3,742 | |
Financial assets past due but not impaired [member] | Later than three months [member] | Financial instruments at amortized cost [Member] | Other financial assets [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 3 | |
Financial assets past due but not impaired [member] | Later than three months [member] | Financial instruments at amortized cost [Member] | Retail subscribers [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 109 | |
Financial assets past due but not impaired [member] | Later than three months [member] | Financial instruments at amortized cost [Member] | Corporate subscribers [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 1,181 | |
Financial assets past due but not impaired [member] | Later than three months [member] | Financial instruments at amortized cost [Member] | Foreign administrations [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 1,593 | |
Financial assets past due but not impaired [member] | Later than three months [member] | Financial instruments at amortized cost [Member] | Domestic carriers [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 42 | |
Financial assets past due but not impaired [member] | Later than three months [member] | Financial instruments at amortized cost [Member] | Dealers agents and others [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 814 | |
Financial assets past due but not impaired [member] | Later than three months [member] | Loans and receivables, category [member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 7,064 | |
Financial assets past due but not impaired [member] | Later than three months [member] | Loans and receivables, category [member] | Retail subscribers [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 333 | |
Financial assets past due but not impaired [member] | Later than three months [member] | Loans and receivables, category [member] | Corporate subscribers [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 1,078 | |
Financial assets past due but not impaired [member] | Later than three months [member] | Loans and receivables, category [member] | Foreign administrations [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 3,006 | |
Financial assets past due but not impaired [member] | Later than three months [member] | Loans and receivables, category [member] | Domestic carriers [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 96 | |
Financial assets past due but not impaired [member] | Later than three months [member] | Loans and receivables, category [member] | Dealers agents and others [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 2,548 | |
Financial assets past due but not impaired [member] | Later than three months [member] | Loans and receivables, category [member] | Advances and other noncurrent assets [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 3 | |
Impaired [Member] | Costs [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 16,739 | 14,723 |
Impaired [Member] | Financial instruments at amortized cost [Member] | Costs [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 16,739 | |
Impaired [Member] | Financial instruments at amortized cost [Member] | Costs [Member] | Other financial assets [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 236 | |
Impaired [Member] | Financial instruments at amortized cost [Member] | Costs [Member] | Retail subscribers [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 9,824 | |
Impaired [Member] | Financial instruments at amortized cost [Member] | Costs [Member] | Corporate subscribers [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 4,509 | |
Impaired [Member] | Financial instruments at amortized cost [Member] | Costs [Member] | Foreign administrations [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 919 | |
Impaired [Member] | Financial instruments at amortized cost [Member] | Costs [Member] | Domestic carriers [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 77 | |
Impaired [Member] | Financial instruments at amortized cost [Member] | Costs [Member] | Dealers agents and others [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | ₱ 1,174 | |
Impaired [Member] | Loans and receivables, category [member] | Costs [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 14,723 | |
Impaired [Member] | Loans and receivables, category [member] | Costs [Member] | Retail subscribers [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 8,778 | |
Impaired [Member] | Loans and receivables, category [member] | Costs [Member] | Corporate subscribers [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 3,304 | |
Impaired [Member] | Loans and receivables, category [member] | Costs [Member] | Foreign administrations [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 938 | |
Impaired [Member] | Loans and receivables, category [member] | Costs [Member] | Domestic carriers [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 75 | |
Impaired [Member] | Loans and receivables, category [member] | Costs [Member] | Dealers agents and others [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | 1,406 | |
Impaired [Member] | Loans and receivables, category [member] | Costs [Member] | Advances and other noncurrent assets [Member] | ||
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items] | ||
Total assets | ₱ 222 |
Notes to the Statement of Cas_3
Notes to the Statement of Cash Flows - Summary of Changes in Liabilities Arising From Financing Activities (Detail) - PHP (₱) ₱ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Reconciliation Of Liabilities Arising From Financing Activities [Line Items] | ||
Beginning balance | ₱ 180,942 | ₱ 201,661 |
Cash flows | (18,820) | (44,525) |
Foreign exchange movement | 1,723 | 417 |
Others | 18,276 | 23,389 |
Ending balance | 182,121 | 180,942 |
Interest-bearing financial liabilities [Member] | ||
Disclosure Of Reconciliation Of Liabilities Arising From Financing Activities [Line Items] | ||
Beginning balance | 172,611 | 185,032 |
Cash flows | 1,722 | (13,097) |
Foreign exchange movement | 1,723 | 417 |
Others | 220 | 259 |
Ending balance | 176,276 | 172,611 |
Long-term financing for capital expenditures [Member] | ||
Disclosure Of Reconciliation Of Liabilities Arising From Financing Activities [Line Items] | ||
Beginning balance | 5,580 | 13,673 |
Cash flows | (7,735) | |
Others | (2,615) | (358) |
Ending balance | 2,965 | 5,580 |
Accrued dividends and other related costs [Member] | ||
Disclosure Of Reconciliation Of Liabilities Arising From Financing Activities [Line Items] | ||
Beginning balance | 1,176 | |
Cash flows | (6,614) | |
Others | 6,785 | |
Ending balance | 1,347 | 1,176 |
Accrued interests and other related costs [Member] | ||
Disclosure Of Reconciliation Of Liabilities Arising From Financing Activities [Line Items] | ||
Beginning balance | 1,176 | 1,412 |
Cash flows | (7,076) | |
Others | 6,840 | |
Ending balance | 1,176 | |
Dividends Payable [Member] | ||
Disclosure Of Reconciliation Of Liabilities Arising From Financing Activities [Line Items] | ||
Beginning balance | 1,575 | 1,544 |
Cash flows | (13,928) | (16,617) |
Others | 13,886 | 16,648 |
Ending balance | ₱ 1,533 | ₱ 1,575 |