Related Party Transactions (Tables)

12 Months Ended

Dec. 31, 2019

Disclosure Of Transactions Between Related Parties [Abstract]

Summary of Outstanding Balances and Transactions with Related Parties

The following table provides the summary of outstanding balances as at December 31, 2019 and 2018 transactions that have been entered into with related parties:

Classifications

Terms

Conditions

2019

2018

(in million pesos)

Indirect investment in joint

ventures through PCEV:

Meralco

Accounts payable and accrued

expenses and other current

liabilities (Notes 23 and 24)

Electricity charges – immediately

upon receipt of invoice

Unsecured

415

518

Accrued expenses and other

current liabilities (Note 24)

Pole rental – 45 days upon receipt of

billing

Unsecured

—

209

Meralco Industrial Engineering

Services Corporation, or

MIESCOR

Accrued expenses and other

current liabilities (Note 24)

30 days upon receipt of invoice

Unsecured

MPIC

Financial assets at FVOCI –

net of current portion (Note 11)

Due on or before December 2020 for

2019 and due on December 2019 for

2018;

non-interest-bearing

Unsecured

162

2,749

Current portion of financial assets

at FVOCI (Note 11)

Due after December 2020 for 2019 and due

after December 2019 for 2018;

non-interest-bearing

Unsecured

2,757

1,604

Transactions with major

stockholders, directors

and officers:

NTT Finance Corporation

Interest-bearing financial liabilities

(Note 21)

Non-amortizing, payable upon

maturity on March 30, 2023 and

March 27, 2024

Unsecured

2,540

2,628

NTT World Engineering

Marine Corporation

Accrued expenses and other

current liabilities (Note 24)

1st month of each quarter;

non-interest-bearing

Unsecured

147

NTT Communications

Accounts payable and accrued

expenses and other current

liabilities (Notes 23 and 24)

30 days upon receipt of invoice;

non-interest-bearing

Unsecured

NTT Worldwide

Telecommunications

Corporation

Accrued expenses and other

current liabilities (Note 24)

30 days upon receipt of invoice;

non-interest-bearing

Unsecured

NTT DOCOMO

Accrued expenses and other

current liabilities (Note 24)

30 days upon receipt of invoice;

non-interest-bearing

Unsecured

JGSHI and Subsidiaries

ROU assets (Note 10)

Upon expiration of lease

Unsecured

168

—

Lease liabilities - net of current

portion (Note 10)

Due after December 31, 2020

Unsecured

154

—

Accounts payable and accrued

expenses and other current

liabilities (Notes 23 and 24)

Immediately upon receipt of invoice

Unsecured

Current portion of lease liabilities

(Note 10)

Due on or before December 31, 2020

Unsecured

—

Malayan Insurance Co., Inc.

or Malayan

Prepayments (Note 19)

Immediately upon receipt of invoice

Unsecured

Accounts payable and accrued

expenses and other current

liabilities (Notes 23 and 24)

Immediately upon receipt of invoice

Unsecured

Gotuaco del Rosario and

Associates, or Gotuaco

Prepayments (Note 19)

Immediately upon receipt of invoice

Unsecured

—

Accounts payable and accrued

expenses and other current

liabilities (Notes 23 and 24)

Immediately upon receipt of invoice

Unsecured

Others:

Cignal Cable Corporation,

or Cignal Cable

(formerly Dakila Cable

TV Corp.)

Prepayments (Note 19)

Immediately upon receipt of invoice

Unsecured

—

169

Various

ROU assets (Note 10)

Upon expiration/depreciation of f lease

Unsecured

232

—

Trade and other receivables

(Note 17)

30 days upon receipt of invoice

Unsecured

2,082

2,094

Lease liabilities - net of current

portion (Note 10)

Due after December 31, 2020

Unsecured

218

—

Accounts payable (Note 23)

30 days non-interest-bearing

Unsecured

571

684

Accounts payable (Note 23)

Immediately upon receipt of billing

Unsecured

602

—

Accrued expenses and other

current liabilities (Note 24)

Immediately upon receipt of billing

Unsecured

Current portion of lease liabilities

(Note 10)

Due on or before December 31, 2020

Unsecured

—

The following table provides the summary of transactions that have been entered into with related parties for the years ended December 31, 2019, 2018 and 2017 in relation with the table above.

	Classifications	2019		2018		2017
		(in million pesos)
Indirect investment in joint ventures through PCEV:
Meralco	Repairs and maintenance		2,689		2,771		2,397
	Rent		29		583		298
	Depreciation and amortization		218		—		—
MIESCOR	Repairs and maintenance		—		33		117
	Construction-in-progress		—		33		81
Transactions with major stockholders, directors and officers:
NTT Finance Corporation	Financing costs - net		103		100		56
NTT World Engineering Marine Corporation	Repairs and maintenance		169		17		47
NTT Communications	Professional and other contracted services		95		95		88
	Rent		—		5		4
NTT Worldwide Telecommunications Corporation	Selling and promotions		5		5		8
NTT DOCOMO	Professional and other contracted services		70		96		94
JGSHI and Subsidiaries	Rent		198		236		118
	Repairs and maintenance		38		111		69
	Communication, training and travel		10		20		2
	Miscellaneous expenses		98		7		—
Malayan	Insurance and security services		295		182		179
Gotuaco	Insurance and security services		165		163		126
Asia Link B.V., or ALBV	Professional and other contracted services		—		34		190
First Pacific Investment Management Limited, or FPIML	Professional and other contracted services		156		135		—
Others:
TV5	Selling and promotions		33		409		149
Cignal Cable	Cost of services		306		372		514
	Selling and promotions		82		—		—
	Other income - net		166		—		—
Various	Revenues		2,401		2,355		2,059
	Expenses		1,908		1,935		1,223

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, 2019, 2018 and 2017 are as follows:

	2019		2018		2017
	(in million pesos)
Short-term employee benefits		311		401		325
Share-based payments (Note 26)		138		83		—
Post-employment benefits (Note 26)		58		30		27
Total compensation paid to key officers of the PLDT Group		507		514		352