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Income and Expenses (Tables) | 12 Months Ended
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Dec. 31, 2020
Analysis Of Income And Expense [Abstract] |
Summary of Revenues from Contracts with Customers | Set out is the disaggregation of PLDT Group’s revenues from contracts with customers for the years ended December 31, 2020, 2019 and 2018:
Revenue Streams |  | Wireless |  |  | Fixed Line |  |  | Others |  |  | Inter- segment Transactions |  |  | Consolidated |
|  | (in million pesos) |
December 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Type of good or service |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Service revenue |  |  | 98,170 |  |  |  | 97,410 |  |  |  | — |  |  |  | (21,946 | ) |  |  | 173,634 |
Non-service revenue |  |  | 6,041 |  |  |  | 1,329 |  |  |  | — |  |  |  | — |  |  |  | 7,370 |
Total revenues from contracts with customers |  |  | 104,211 |  |  |  | 98,739 |  |  |  | — |  |  |  | (21,946 | ) |  |  | 181,004 |
Timing of revenue recognition |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Transferred over time |  |  | 98,170 |  |  |  | 97,410 |  |  |  | — |  |  |  | (21,946 | ) |  |  | 173,634 |
Transferred at a point time |  |  | 6,041 |  |  |  | 1,329 |  |  |  | — |  |  |  | — |  |  |  | 7,370 |
Total revenues from contracts with customers |  |  | 104,211 |  |  |  | 98,739 |  |  |  | — |  |  |  | (21,946 | ) |  |  | 181,004 |
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 revenues 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 revenues 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 revenues 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 revenues from contracts with customers |  |  | 89,929 |  |  |  | 85,222 |  |  |  | 1,138 |  |  |  | (13,375 | ) |  |  | 162,914 |
Summary of Contract Balances | Contract balances as at December 31, 2020 and 2019 consists of the following:
|  | 2020 |  |  | 2019 |
|  | (in million pesos) |
Trade and other receivables (Note 17) |  |  | 38,304 |  |  |  | 39,340 |
Contract assets |  |  | 2,559 |  |  |  | 2,817 |
Contract liabilities and unearned revenues (Notes 22 and 24) |  |  | 9,571 |  |  |  | 8,483 |
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, 2020 and 2019 and 2018.
|  | 2020 |  |  | 2019 |  |  | 2018 |
|  | (in million pesos) |
Balances at beginning of the year |  |  | 70 |  |  |  | 131 |  |  |  | 114 |
Reclassification |  |  | 22 |  |  |  | (61 | ) |  |  | — |
Provisions |  |  | — |  |  |  | — |  |  |  | 17 |
Balances at end of the year |  |  | 92 |  |  |  | 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, 2020, 2019 and 2018 are as follows:
|  | 2020 |  |  | 2019 |  |  | 2018 |
|  | (in million pesos) |
Balances at beginning of the year |  |  | 8,483 |  |  |  | 7,182 |  |  |  | 8,541 |
Deferred during the year |  |  | 127,160 |  |  |  | 111,084 |  |  |  | 102,288 |
Recognized as revenue during the year |  |  | (126,072 | ) |  |  | (109,783 | ) |  |  | (103,647 | )
Balances at end of the year |  |  | 9,571 |  |  |  | 8,483 |  |  |  | 7,182 |
Summary of Contract Liabilities and Unearned Revenues Account | The contract liabilities and unearned revenues accounts as at December 31, 2020 and 2019 are as follows:
|  | 2020 |  |  | 2019 |
|  | (in million pesos) |
Unearned revenues from prepaid contracts |  |  | 6,185 |  |  |  | 5,454 |
Advance monthly service fees |  |  | 1,747 |  |  |  | 1,777 |
Short-term advances for installation services |  |  | 1,167 |  |  |  | 726 |
Leased facilities |  |  | 446 |  |  |  | 469 |
Long-term advances from equipment |  |  | 26 |  |  |  | 57 |
Total contract liabilities and unearned revenues |  |  | 9,571 |  |  |  | 8,483 |
Contract liabilities: |  |  |  |  |  |  |  |
Noncurrent (Note 22) |  |  | 4 |  |  |  | 13 |
Current (Note 24) |  |  | 12 |  |  |  | 44 |
Unearned revenues: |  |  |  |  |  |  |  |
Noncurrent (Note 22) |  |  | 972 |  |  |  | 591 |
Current (Note 24) |  |  | 8,583 |  |  |  | 7,835 |
Summary of Selling, General and Administrative Expenses | Selling, general and administrative expenses for the years ended December 31, 2020, 2019 and 2018 consist of the following:
|  | 2020 |  |  | 2019 |  |  | 2018 |
|  | (in million pesos) |
Compensation and employee benefits |  |  | 26,833 |  |  |  | 24,883 |  |  |  | 23,543 |
Repairs and maintenance (Notes 14, 18 and 25) |  |  | 21,555 |  |  |  | 20,007 |  |  |  | 14,331 |
Professional and other contracted services (Note 25) |  |  | 7,307 |  |  |  | 7,408 |  |  |  | 12,809 |
Selling and promotions (Note 25) |  |  | 6,542 |  |  |  | 5,395 |  |  |  | 6,340 |
Taxes and licenses |  |  | 5,495 |  |  |  | 4,570 |  |  |  | 4,974 |
Amortization of intangible assets (Note 15) |  |  | 2,496 |  |  |  | 758 |  |  |  | 892 |
Insurance and security services (Note 25) |  |  | 1,699 |  |  |  | 1,671 |  |  |  | 1,499 |
Rent (Notes 10 and 25) |  |  | 1,384 |  |  |  | 1,290 |  |  |  | 7,321 |
Communication, training and travel (Note 25) |  |  | 903 |  |  |  | 1,203 |  |  |  | 1,069 |
Other expenses |  |  | 1,041 |  |  |  | 1,045 |  |  |  | 1,138 |
Total selling, general and administrative expenses |  |  | 75,255 |  |  |  | 68,230 |  |  |  | 73,916 |
Summary of Compensation and Employee Benefits | Compensation and employee benefits for the years ended December 31, 2020, 2019 and 2018 consist of the following:
|  | 2020 |  |  | 2019 |  |  | 2018 |
|  | (in million pesos) |
Salaries and other employee benefits |  |  | 20,856 |  |  |  | 19,931 |  |  |  | 19,777 |
MRP |  |  | 2,625 |  |  |  | 3,296 |  |  |  | 1,703 |
Pension benefit costs (Note 26) |  |  | 2,218 |  |  |  | 1,018 |  |  |  | 1,855 |
Incentive plan (Note 26) |  |  | 1,134 |  |  |  | 638 |  |  |  | 208 |
Total compensation and employee benefits |  |  | 26,833 |  |  |  | 24,883 |  |  |  | 23,543 |
Summary of Cost of Sales and Services | Cost of sales and services for the years ended December 31, 2020, 2019 and 2018 consist of the following:
|  | 2020 |  |  | 2019 |  |  | 2018 |
|  | (in million pesos) |
Cost of computers, mobile handsets and broadband data modems (Note 18) |  |  | 8,275 |  |  |  | 9,402 |  |  |  | 10,513 |
Cost of services (Note 18) |  |  | 2,991 |  |  |  | 3,680 |  |  |  | 3,429 |
Cost of point-product-sales (Note 18) |  |  | 1,029 |  |  |  | 347 |  |  |  | 485 |
Total cost of sales and services |  |  | 12,295 |  |  |  | 13,429 |  |  |  | 14,427 |
Summary of Asset Impairment | Asset impairment for the years ended December 31, 2020, 2019 and 2018 consist of the following:
|  | 2020 |  |  | 2019 |  |  | 2018 |
|  | (in million pesos) |
Trade and other receivables (Note 17) |  |  | 6,446 |  |  |  | 4,071 |  |  |  | 4,192 |
Inventories and supplies (Note 18) |  |  | 934 |  |  |  | 471 |  |  |  | 1,528 |
Contract assets |  |  | 266 |  |  |  | 291 |  |  |  | 223 |
Property and equipment (Note 9) |  |  | — |  |  |  | — |  |  |  | 1,958 |
Other assets |  |  | — |  |  |  | — |  |  |  | 164 |
Total asset impairment |  |  | 7,646 |  |  |  | 4,833 |  |  |  | 8,065 |
Summary of Other Income (Expenses) - Net | Other income (expenses) – net for the years ended December 31, 2020, 2019 and 2018 consist of the following:
|  | 2020 |  |  | 2019 |  |  | 2018 |
|  | (in million pesos) |
Gains (losses) on sale of property and equipment (Note 9) |  |  | 3,369 |  |  |  | (88 | ) |  |  | 12 |
Reversal of provisions |  |  | 2,679 |  |  |  | 999 |  |  |  | 1,250 |
Foreign exchange gains (losses) – net (Note 28) |  |  | 1,488 |  |  |  | 424 |  |  |  | (771 | )
Interest income |  |  | 1,210 |  |  |  | 1,745 |  |  |  | 1,943 |
Gains (losses) on derivative financial instruments – net (Note 28) |  |  | (378 | ) |  |  | (284 | ) |  |  | 1,086 |
Equity share in net losses of associates and joint ventures (Note 11) |  |  | (2,328 | ) |  |  | (1,535 | ) |  |  | (87 | )
Financing costs – net |  |  | (10,086 | ) |  |  | (8,553 | ) |  |  | (7,067 | )
Gain on deconsolidation of VIH |  |  | — |  |  |  | — |  |  |  | 12,054 |
Others – net (Notes 11, 12 and 14) |  |  | 885 |  |  |  | 227 |  |  |  | 622 |
Total other expenses – net |  |  | (3,161 | ) |  |  | (7,065 | ) |  |  | 9,042 |
Summary of Interest Income | Interest income for the years ended December 31, 2020, 2019 and 2018 consist of the following:
|  | 2020 |  |  | 2019 |  |  | 2018 |
|  | (in million pesos) |
Interest income on cash and cash equivalents (Note 16) |  |  | 560 |  |  |  | 1,022 |  |  |  | 957 |
Interest income arising from revenue contracts with customers |  |  | 414 |  |  |  | 430 |  |  |  | 340 |
Interest income on financial instruments at FVOCI |  |  | 70 |  |  |  | 239 |  |  |  | — |
Interest income on financial instruments at amortized cost (Note 13) |  |  | 1 |  |  |  | 6 |  |  |  | 6 |
Interest income – others |  |  | 165 |  |  |  | 48 |  |  |  | 640 |
Total interest income |  |  | 1,210 |  |  |  | 1,745 |  |  |  | 1,943 |
Financing Costs – Net
Summary of Financing Costs - Net | Financing costs – net for the years ended December 31, 2020, 2019 and 2018 consist of the following:
|  | 2020 |  |  | 2019 |  |  | 2018 |
|  | (in million pesos) |
Interest on loans and other related items (Notes 21 and 28) |  |  | 10,333 |  |  |  | 8,730 |  |  |  | 8,307 |
Accretion on lease liabilities (Note 10) |  |  | 1,125 |  |  |  | 1,061 |  |  |  | — |
Accretion on financial liabilities (Note 21) |  |  | 146 |  |  |  | 122 |  |  |  | 145 |
Financing charges |  |  | 79 |  |  |  | 95 |  |  |  | 139 |
Capitalized interest (Note 9) |  |  | (1,597 | ) |  |  | (1,455 | ) |  |  | (1,524 | )
Total financing costs – net |  |  | 10,086 |  |  |  | 8,553 |  |  |  | 7,067 |

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