XML 124 R37.htm IDEA: XBRL DOCUMENT
v3.20.1

Summary of Significant Accounting Policies (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2019
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, 2019 and 2018:
|  |  |  |  |  | 2019 |  |  | 2018 |
|  |  |  |  |  | (Unaudited) |  |  | (Audited) |
|  | 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 |  |  |  | — |  |  |  | 95.0 |
netGames, Inc.(a) |  | Philippines |  | Gaming support services |  |  | — |  |  |  | 57.5 |  |  |  | — |  |  |  | 57.5 |
MVP Rewards Loyalty Solutions, Inc., or MRSI(b) |  | Philippines |  | Full-services customer rewards and loyalty programs |  |  | — |  |  |  | 100.0 |  |  |  | — |  |  |  | 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 |
(a) | Ceased commercial operations.
(b) | On September 14, 2018, MRSI was incorporated and ePLDT made an initial investment of Php50 million.
Summary of Decrease in Par Value of Common Stock and Decrease in Authorized Capital Stock | (a) decrease in the par value of common stock; and (b) decrease in the authorized capital stock as follows:
| Prior to Amendments |  | After Amendments
| Authorized Capital (Php) | Number of Shares | Par Value (Php) |  | Authorized Capital (Php) | Number of Shares | Par Value (Php)
| (in millions) |  |  | (in millions) |
Common Stock | 12,060 | 1 | 21,000 |  | 4,996 | 1 | 8,700
Class I Preferred Stock | 67 | 33 | 2 |  | 67 | 33 | 2
Class II Preferred Stock | 50 | 50 | 1 |  | 50 | 50 | 1
Total Authorized Capital Stock | 12,177 | 84 |  |  | 5,113 | 84 |
Summary of Effect of Adopting IFRS 16 | The effect of adoption of IFRS 16 as at January 1, 2019 is as follows:
|  | Increase |
|  | (Decrease) |
|  | (in million pesos) |
Assets: |  |  |  |
Right-of-use assets (Note 10) |  |  | 14,226 |
Property and equipment (Notes 9 and 10) |  |  | (245 | )
Deferred income tax assets – net (Note 7) |  |  | 172 |
Current portion of prepayments |  |  | (471 | )
Total Assets |  |  | 13,682 |
Liabilities: |  |  |  |
Lease liabilities – net of current portion (Note 10) |  |  | 12,386 |
Deferred credits and other noncurrent liabilities |  |  | (50 | )
Accrued expenses and other current liabilities |  |  | (577 | )
Current portion of lease liabilities (Note 10) |  |  | 2,847 |
Total Liabilities |  |  | 14,606 |
Net impact on equity: |  |  |  |
Retained earnings |  |  | (924 | )
Noncontrolling interests |  |  | — |
Disclosure of Effect of Adoption of IFRS 16 in Summarized Financial Information | Consolidated income statement for the year ended December 31, 2019
|  |  |  |  |  |  |  |  |  | Increase |
|  | IFRS 16 |  |  | IAS 17 |  |  | (Decrease) |
|  | (in million pesos) |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |
Rent (Note 5) |  |  | 1,290 |  |  |  | 6,571 |  |  |  | (5,281 | )
Depreciation (Notes 3 and 10) |  |  | 4,393 |  |  |  | — |  |  |  | 4,393 |
Financing costs – net (Notes 5 and 10) |  |  | 1,061 |  |  |  | — |  |  |  | 1,061 |
Net impact on profit for the year |  |  | 6,744 |  |  |  | 6,571 |  |  |  | 173 |
Tax effect |  |  | (2,023 | ) |  |  | (1,971 | ) |  |  | (52 | )
Net impact on profit for the year – net of tax |  |  | 4,721 |  |  |  | 4,600 |  |  |  | 121 |
Attributable to: |  |  |  |  |  |  |  |  |  |  |  |
Equity holders of PLDT |  |  | (4,721 | ) |  |  | (4,600 | ) |  |  | (121 | )
Noncontrolling interests |  |  | — |  |  |  | — |  |  |  | — |
Consolidated statement of financial position as at December 31, 2019
|  |  |  |  |  |  |  |  |  | Increase |
|  | IFRS 16 |  |  | IAS 17 |  |  | (Decrease) |
|  | (in million pesos) |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Right-of-use assets (Note 10) |  |  | 15,890 |  |  |  | — |  |  |  | 15,890 |
Deferred income tax assets – net (Note 7) |  |  | 23,623 |  |  |  | 23,228 |  |  |  | 395 |
Prepayments – net of current portion (Note 19) |  |  | 48,933 |  |  |  | 49,394 |  |  |  | (461 | )
Current portion of prepayments (Note 19) |  |  | 11,298 |  |  |  | 11,308 |  |  |  | (10 | )
Total Assets |  |  | 99,744 |  |  |  | 83,930 |  |  |  | 15,814 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Lease liabilities – net of current portion (Notes 3 and 10) |  |  | 13,100 |  |  |  | — |  |  |  | 13,100 |
Deferred credits and other noncurrent liabilities (Note 22) |  |  | 4,557 |  |  |  | 4,607 |  |  |  | (50 | )
Accrued expenses and other current liabilities (Note 24) |  |  | 100,815 |  |  |  | 100,221 |  |  |  | 594 |
Current portion of lease liabilities (Notes 3 and 10) |  |  | 3,215 |  |  |  | — |  |  |  | 3,215 |
Total Liabilities |  |  | 121,687 |  |  |  | 104,828 |  |  |  | 16,859 |
Net impact on equity: |  |  |  |  |  |  |  |  |  |  |  |
Retained earnings |  |  | (21,943 | ) |  |  | (20,898 | ) |  |  | (1,045 | )
Noncontrolling interests |  |  | — |  |  |  | — |  |  |  | — |
Consolidated statement of cash flows for the year ended December 31, 2019
|  | (in million pesos) |
Net cash flows from operating activities (IAS 17): |  |  |  |
Operating lease payments |  |  | (6,460 | )
Net cash flows from financing activities (IFRS 16): |  |  |  |
Payment of principal portion of lease liabilities (Note 10) |  |  | (5,399 | )
Summary of Operating Lease Commitments | The lease liabilities as at January 1, 2019 can be reconciled to the operating lease commitments as at December 31, 2018 follows:
|  | (in million pesos) |
Operating lease commitments as at December 31, 2018 |  |  | 22,674 |
Incremental borrowing rate as at January 1, 2019 |  | 7%-9% |
Discounted operating lease commitments as at January 1, 2019 |  |  | 10,571 |
Less: Commitments relating to short-term leases |  |  | (49 | )
Commitments relating to service contracts |  |  | (304 | )
Add: Payments in optional extension periods not recognized as at December 31, 2018 |  |  | 4,994 |
Prepayments and accrued expenses (IAS 17) |  |  | 21 |
Lease liabilities as at January 1, 2019 |  |  | 15,233 |
Future minimum rentals receivable under non-cancellable operating leases as at December 31, 2019 are as follows:
|  | (in million pesos) |
Within one year |  |  | 10 |
After one year but not more than five years |  |  | — |
More than five years |  |  | — |
|  |  | 10 |

X
- Definition The disclosure of a maturity analysis of operating lease payments. Operating lease is a lease that does not transfer substantially all the risks and rewards incidental to ownership of an underlying asset. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 16 -IssueDate 2019-01-01 -Paragraph 97 -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=16&code=ifrs-tx-2019-en-r&anchor=para_97&doctype=Standard -URIDate 2019-03-27 + Details
Name: | ifrs-full_DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of subsidiaries. [Refer: Subsidiaries [member]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 27 -IssueDate 2019-01-01 -Paragraph 17 -Subparagraph b -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=27&code=ifrs-tx-2019-en-r&anchor=para_17_b&doctype=Standard -URIDate 2019-03-27 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 27 -IssueDate 2019-01-01 -Paragraph 16 -Subparagraph b -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=27&code=ifrs-tx-2019-en-r&anchor=para_16_b&doctype=Standard -URIDate 2019-03-27 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 12 -IssueDate 2019-01-01 -Paragraph B4 -Subparagraph a -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2019-en-r&anchor=para_B4_a&doctype=Appendix&subtype=B -URIDate 2019-03-27 + Details
Name: | ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure of decrease in par value of common stock and decrease in authorized capital stock explanatory. + References No definition available. + Details
Name: | phi_DisclosureOfDecreaseInParValueOfCommonStockAndDecreaseInAuthorizedCapitalStockExplanatory
Namespace Prefix: | phi_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure of effect of adopting IFRS 16. + References No definition available. + Details
Name: | phi_DisclosureOfEffectOfAdoptingIFRS16Explanatory
Namespace Prefix: | phi_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure of effect of adoption of IFRS 16 in summarized financial information. + References No definition available. + Details
Name: | phi_DisclosureOfEffectOfAdoptionOfIFRS16InSummarizedFinancialInformationExplanatory
Namespace Prefix: | phi_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure of significant accounting policies. + References No definition available. + Details
Name: | phi_DisclosureOfSignificantAccountingPoliciesAbstract
Namespace Prefix: | phi_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration