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Deferred Credits and Other Noncurrent Liabilities | 12 Months Ended
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Dec. 31, 2019
Deferred Credits And Other Noncurrent Liabilities [Abstract] |
Deferred Credits and Other Noncurrent Liabilities |
2 2. | Deferred Credits and Other Noncurrent Liabilities
As at December 31, 2019 and 2018, this account consists of:
|  | 2019 |  |  | 2018 |
|  | (in million pesos) |
Accrual of capital expenditures under long-term financing |  |  | 2,118 |  |  |  | 2,965 |
Provision for asset retirement obligations |  |  | 1,767 |  |  |  | 1,656 |
Contract liabilities and unearned revenues (Note 5) |  |  | 604 |  |  |  | 532 |
Others |  |  | 68 |  |  |  | 131 |
|  |  | 4,557 |  |  |  | 5,284 |
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 21 – Interest-bearing Financial Liabilities. The following table summarizes the changes to provision for asset retirement obligations for the years ended December 31, 2019 and 2018:
|  | 2019 |  |  | 2018 |
|  | (in million pesos) |
Provision for asset retirement obligations at beginning of the year |  |  | 1,656 |  |  |  | 1,630 |
Additional liability |  |  | 154 |  |  |  | 161 |
Accretion expenses |  |  | 82 |  |  |  | 47 |
Settlement of obligations and others |  |  | (125 | ) |  |  | (182 | )
Provision for asset retirement obligations at end of the year |  |  | 1,767 |  |  |  | 1,656 |

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- Definition Abstract stands for deferred credits and other noncurrent liabilities. + References No definition available. + Details
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- Definition Disclosure of deferred credits and other noncurrent liabilities. + References No definition available. + Details
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