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Income and Expenses (Tables) | 12 Months Ended
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Dec. 31, 2019
Analysis Of Income And Expense [Abstract] |
Summary of Revenue from Contracts with Customers | Set out is the disaggregation of PLDT Group’s revenue from contracts with customers for the years ended December 31, 2019 and 2018:
Revenue Streams |  | Wireless |  |  | Fixed Line |  |  | Others |  |  | Inter- segment Transactions |  |  | Consolidated |
|  | (in million pesos) |
December 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Type of good or service |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Service revenue |  |  | 90,661 |  |  |  | 87,819 |  |  |  | — |  |  |  | (17,125 | ) |  |  | 161,355 |
Non-service revenue |  |  | 6,245 |  |  |  | 1,587 |  |  |  | — |  |  |  | — |  |  |  | 7,832 |
Total revenue from contracts with customers |  |  | 96,906 |  |  |  | 89,406 |  |  |  | — |  |  |  | (17,125 | ) |  |  | 169,187 |
Timing of revenue recognition |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Transferred over time |  |  | 90,661 |  |  |  | 87,819 |  |  |  | — |  |  |  | (17,125 | ) |  |  | 161,355 |
Transferred at a point time |  |  | 6,245 |  |  |  | 1,587 |  |  |  | — |  |  |  | — |  |  |  | 7,832 |
Total revenue from contracts with customers |  |  | 96,906 |  |  |  | 89,406 |  |  |  | — |  |  |  | (17,125 | ) |  |  | 169,187 |
December 31, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Type of good or service |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Service revenue |  |  | 83,001 |  |  |  | 81,648 |  |  |  | 1,094 |  |  |  | (13,374 | ) |  |  | 152,369 |
Non-service revenue |  |  | 6,928 |  |  |  | 3,574 |  |  |  | 44 |  |  |  | (1 | ) |  |  | 10,545 |
Total revenue from contracts with customers |  |  | 89,929 |  |  |  | 85,222 |  |  |  | 1,138 |  |  |  | (13,375 | ) |  |  | 162,914 |
Timing of revenue recognition |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Transferred over time |  |  | 83,001 |  |  |  | 81,648 |  |  |  | 1,094 |  |  |  | (13,374 | ) |  |  | 152,369 |
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 |  |  |  | (13,375 | ) |  |  | 162,914 |
Summary of Contract Balances | Contract balances as at December 31, 2019 and 2018 consists of the following:
|  | 2019 |  |  | 2018 |
|  | (in million pesos) |
Trade and other receivables (Note 17) |  |  | 39,340 |  |  |  | 40,559 |
Contract assets |  |  | 2,817 |  |  |  | 3,399 |
Contract liabilities and unearned revenues (Notes 22 and 24) |  |  | 8,483 |  |  |  | 7,182 |
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 for the years ended December 31, 2019 and 2018.
|  | 2019 |  |  | 2018 |
|  | (in million pesos) |
Balances at beginning of the year |  |  | 131 |  |  |  | 114 |
Reclassification |  |  | (61 | ) |  |  | — |
Provisions |  |  | — |  |  |  | 17 |
Balances at end of the year |  |  | 70 |  |  |  | 131 |
Summary of Changes in Contract Liabilities and Unearned Revenues Accounts | Changes in the contract liabilities and unearned revenues accounts for the years ended December 31, 2019 and 2018 are as follows:
|  | 2019 |  |  | 2018 |
|  | (in million pesos) |
Balances at beginning of the year |  |  | 7,182 |  |  |  | 8,541 |
Deferred during the year |  |  | 111,084 |  |  |  | 102,288 |
Recognized as revenue during the year |  |  | (109,783 | ) |  |  | (103,647 | )
Balances at end of the year |  |  | 8,483 |  |  |  | 7,182 |
Summary of Contract Liabilities and Unearned Revenues Account | The contract liabilities and unearned revenues accounts as at December 31, 2019 and 2018 are as follows:
|  | 2019 |  |  | 2018 |
|  | (in million pesos) |
Unearned revenues from prepaid contracts |  |  | 5,454 |  |  |  | 4,059 |
Advance monthly service fees |  |  | 1,777 |  |  |  | 2,386 |
Short-term advances for installation services |  |  | 726 |  |  |  | 558 |
Leased facilities |  |  | 469 |  |  |  | 34 |
Long-term advances from equipment |  |  | 57 |  |  |  | 145 |
Total contract liabilities and unearned revenues |  |  | 8,483 |  |  |  | 7,182 |
Contract liabilities: |  |  |  |  |  |  |  |
Noncurrent (Note 22) |  |  | 13 |  |  |  | 58 |
Current (Note 24) |  |  | 44 |  |  |  | 87 |
Unearned revenues: |  |  |  |  |  |  |  |
Noncurrent (Note 22) |  |  | 591 |  |  |  | 474 |
Current (Note 24) |  |  | 7,835 |  |  |  | 6,563 |
Summary of Selling, General and Administrative Expenses | Selling, general and administrative expenses for the years ended December 31, 2019, 2018 and 2017 consist of the following:
|  | 2019 |  |  | 2018 |  |  | 2017 |
|  | (in million pesos) |
Compensation and employee benefits |  |  | 24,883 |  |  |  | 23,543 |  |  |  | 22,782 |
Repairs and maintenance (Notes 14, 18 and 25) |  |  | 15,337 |  |  |  | 14,331 |  |  |  | 12,744 |
Professional and other contracted services (Note 25) |  |  | 12,078 |  |  |  | 12,809 |  |  |  | 12,168 |
Selling and promotions (Note 25) |  |  | 5,395 |  |  |  | 6,340 |  |  |  | 5,908 |
Taxes and licenses |  |  | 4,570 |  |  |  | 4,974 |  |  |  | 3,970 |
Insurance and security services (Note 25) |  |  | 1,671 |  |  |  | 1,499 |  |  |  | 1,519 |
Rent (Note 25) |  |  | 1,290 |  |  |  | 7,321 |  |  |  | 7,016 |
Communication, training and travel (Note 25) |  |  | 1,203 |  |  |  | 1,069 |  |  |  | 1,166 |
Amortization of intangible assets (Note 15) |  |  | 758 |  |  |  | 892 |  |  |  | 835 |
Other expenses |  |  | 1,045 |  |  |  | 1,138 |  |  |  | 882 |
Total selling, general and administrative expenses |  |  | 68,230 |  |  |  | 73,916 |  |  |  | 68,990 |
Summary of Compensation and Employee Benefits | Compensation and employee benefits for the years ended December 31, 2019, 2018 and 2017 consist of the following:
|  | 2019 |  |  | 2018 |  |  | 2017 |
|  | (in million pesos) |
Salaries and other employee benefits |  |  | 19,931 |  |  |  | 19,777 |  |  |  | 18,598 |
MRP |  |  | 3,296 |  |  |  | 1,703 |  |  |  | 1,747 |
Pension benefit costs (Note 26) |  |  | 1,018 |  |  |  | 1,855 |  |  |  | 1,610 |
Incentive plan (Note 26) |  |  | 638 |  |  |  | 208 |  |  |  | 827 |
Total compensation and employee benefits |  |  | 24,883 |  |  |  | 23,543 |  |  |  | 22,782 |
Summary of Cost of Sales and Services | Cost of sales and services for the years ended December 31, 2019, 2018 and 2017 consist of the following:
|  | 2019 |  |  | 2018 |  |  | 2017 |
|  | (in million pesos) |
Cost of computers, mobile handsets and broadband data modems (Note 18) |  |  | 9,402 |  |  |  | 10,513 |  |  |  | 10,277 |
Cost of services (Note 18) |  |  | 3,680 |  |  |  | 3,429 |  |  |  | 2,572 |
Cost of point-product-sales (Note 18) |  |  | 347 |  |  |  | 485 |  |  |  | 784 |
Total cost of sales and services |  |  | 13,429 |  |  |  | 14,427 |  |  |  | 13,633 |
Summary of Asset Impairment | Asset impairment for the years ended December 31, 2019, 2018 and 2017 consist of the following:
|  | 2019 |  |  | 2018 |  |  | 2017 |
|  | (in million pesos) |
Trade and other receivables (Note 17) |  |  | 4,071 |  |  |  | 4,192 |  |  |  | 3,438 |
Inventories and supplies (Note 18) |  |  | 471 |  |  |  | 1,528 |  |  |  | 907 |
Contract assets |  |  | 291 |  |  |  | 223 |  |  |  | — |
Property and equipment (Note 9) |  |  | — |  |  |  | 1,958 |  |  |  | 3,913 |
Other assets |  |  | — |  |  |  | 164 |  |  |  | — |
Total asset impairment |  |  | 4,833 |  |  |  | 8,065 |  |  |  | 8,258 |
Summary of Other Income (Expenses) - Net | Other income (expenses) – net for the years ended December 31, 2019, 2018 and 2017 consist of the following:
|  | 2019 |  |  | 2018 |  |  | 2017 |
|  | (in million pesos) |
Interest income |  |  | 1,745 |  |  |  | 1,943 |  |  |  | 1,412 |
Foreign exchange gains (losses) – net (Note 9) |  |  | 424 |  |  |  | (771 | ) |  |  | (411 | )
Gain on deconsolidation of VIH (Note 11) |  |  | — |  |  |  | 12,054 |  |  |  | — |
Gains (losses) on derivative financial instruments – net (Note 28) |  |  | (284 | ) |  |  | 1,086 |  |  |  | 533 |
Equity share in net earnings (losses) of associates and joint ventures (Note 11) |  |  | (1,535 | ) |  |  | (87 | ) |  |  | 2,906 |
Financing costs – net |  |  | (8,553 | ) |  |  | (7,067 | ) |  |  | (7,370 | )
Others – net (Notes 11, 12 and 14) |  |  | 1,138 |  |  |  | 1,884 |  |  |  | 7,988 |
Total other income (expenses) – net |  |  | (7,065 | ) |  |  | 9,042 |  |  |  | 5,058 |
Summary of Interest Income | Interest income for the years ended December 31, 2019, 2018 and 2017 consist of the following:
|  | 2019 |  |  | 2018 |  |  | 2017 |
|  | (in million pesos) |
Interest income on cash and cash equivalents (Note 16) |  |  | 1,022 |  |  |  | 957 |  |  |  | 612 |
Interest income arising from revenue contracts with customers |  |  | 430 |  |  |  | 340 |  |  |  | — |
Interest income on financial instruments at FVOCI |  |  | 239 |  |  |  | — |  |  |  | — |
Interest income on financial instruments at amortized cost (Note 13) |  |  | 6 |  |  |  | 6 |  |  |  | 8 |
Interest income – others |  |  | 48 |  |  |  | 640 |  |  |  | 792 |
Total interest income |  |  | 1,745 |  |  |  | 1,943 |  |  |  | 1,412 |
Summary of Financing Costs - Net | Financing costs – net for the years ended December 31, 2019, 2018 and 2017 consist of the following:
|  | 2019 |  |  | 2018 |  |  | 2017 |
|  | (in million pesos) |
Interest on loans and other related items (Notes 21 and 28) |  |  | 8,730 |  |  |  | 8,307 |  |  |  | 7,830 |
Accretion on lease liabilities (Notes 2 and 10) |  |  | 1,061 |  |  |  | — |  |  |  | — |
Accretion on financial liabilities (Note 21) |  |  | 122 |  |  |  | 145 |  |  |  | 219 |
Financing charges |  |  | 95 |  |  |  | 139 |  |  |  | 137 |
Capitalized interest (Note 9) |  |  | (1,455 | ) |  |  | (1,524 | ) |  |  | (816 | )
Total financing costs – net |  |  | 8,553 |  |  |  | 7,067 |  |  |  | 7,370 |

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