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Leases (Tables)
 12 Months Ended
Dec. 31, 2019
Presentation Of Leases For Lessee [Abstract]  
Schedule of Estimated Useful Life of Right of Use Assets

Our consolidated estimated useful life of ROU assets as at December 31, 2019 are estimated as follows:

 

Sites

 

1 – 30 years

International leased circuits

 

5 – 7 years

Poles

 

1 – 10 years

Domestic leased circuits

 

5 – 10 years

Office buildings

 

1 – 15 years

Co-located sites

 

7 years
Schedule of Changes in Right of Use Assets

Our consolidated rollforward analysis of this account as at December 31, 2019 are as follows:

 

 

 

Site

 

 

International Leased Circuits

 

 

Poles

 

 

Domestic Leased Circuits

 

 

Office Buildings

 

 

Co-located Sites

 

 

Total

 

 

 

(in million pesos)

 

Costs:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balances at beginning

   of the year (as previously

   stated)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Effect of adoption of IFRS 16

   (Notes 2 and 29)

 

 

8,980

 

 

 

3,779

 

 

 

607

 

 

 

551

 

 

 

298

 

 

 

11

 

 

 

14,226

 

Balances at beginning

   of the year (as restated)

 

 

8,980

 

 

 

3,779

 

 

 

607

 

 

 

551

 

 

 

298

 

 

 

11

 

 

 

14,226

 

Additions (Note 29)

 

 

3,506

 

 

 

562

 

 

 

100

 

 

 

489

 

 

 

413

 

 

 

2

 

 

 

5,072

 

Asset retirement obligation

 

 

1,679

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

124

 

 

 

—

 

 

 

1,803

 

Modifications

 

 

319

 

 

 

—

 

 

 

19

 

 

 

174

 

 

 

91

 

 

 

(2

)

 

 

601

 

Termination

 

 

(72

)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(20

)

 

 

—

 

 

 

(92

)

Balances at end of the year

 

 

14,412

 

 

 

4,341

 

 

 

726

 

 

 

1,214

 

 

 

906

 

 

 

11

 

 

 

21,610

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated depreciation and

   amortization:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balances at beginning

   of the year (as previously

   stated)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Effect of adoption of IFRS 16 (Note 2)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Balances at beginning

   of the year (as restated)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Termination

 

 

44

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

14

 

 

 

—

 

 

 

58

 

Modifications

 

 

—

 

 

 

—

 

 

 

—

 

 

 

3

 

 

 

—

 

 

 

1

 

 

 

4

 

Charges from asset retirement

   obligation

 

 

(1,297

)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(92

)

 

 

—

 

 

 

(1,389

)

Depreciation (Notes 2 and 3)

 

 

(2,673

)

 

 

(834

)

 

 

(340

)

 

 

(186

)

 

 

(358

)

 

 

(2

)

 

 

(4,393

)

Balances at end of the year

 

 

(3,926

)

 

 

(834

)

 

 

(340

)

 

 

(183

)

 

 

(436

)

 

 

(1

)

 

 

(5,720

)

Net book value at end

   of the year (Note 2)

 

 

10,486

 

 

 

3,507

 

 

 

386

 

 

 

1,031

 

 

 

470

 

 

 

10

 

 

 

15,890

 
Summary of Amounts Recognized in Consolidated Income Statement

The following amounts are recognized in our consolidated income statement for the year ended December 31, 2019:

 

 

 

(in million pesos)

 

Depreciation expense of ROU assets (Notes 2 and 3)

 

 

4,393

 

Interest expense on lease liabilities (Notes 2 and 5)

 

 

1,061

 

Variable lease payments (included in general and administrative expenses)

 

 

708

 

Expenses relating to short-term leases

   (included in general and administrative expenses)

 

 

378

 

Expenses relating to leases of low-value assets

   (included in general and administrative expenses)

 

 

204

 

Total amount recognized in consolidated income statement

 

 

6,744

 
Schedule of Changes in Lease Liabilities

Our consolidated rollforward analysis of lease liabilities as at December 31, 2019 are as follows:

 

 

 

(in million pesos)

 

Balances at beginning of the year (as previously stated)

 

 

—

 

Effect of adoption of IFRS 16 (Notes 2 and 29)

 

 

15,233

 

Balances at beginning of the year (as restated)

 

 

15,233

 

Additions (Note 29)

 

 

5,065

 

Accretion expenses (Notes 2 and 5)

 

 

1,061

 

Lease modifications

 

 

463

 

Foreign exchange loss – net

 

 

(12

)

Termination

 

 

(96

)

Settlement of obligations (Note 2)

 

 

(5,399

)

Balances at end of the year (Notes 2 and 3)

 

 

16,315

 

Less current portion of lease liabilities (Notes 2 and 28)

 

 

3,215

 

Noncurrent portion of lease liabilities (Notes 2 and 28)

 

 

13,100

 
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