Income and Expenses (Tables)

12 Months Ended

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