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Related Party Transactions (Tables) | 12 Months Ended
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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 |

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