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Income and Expenses (Tables) | 12 Months Ended
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Dec. 31, 2021
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, 2021, 2020 and 2019:
Revenue Streams |  | Wireless |  |  | Fixed Line |  |  | Others |  |  | Inter- segment Transactions |  |  | Consolidated |
|  | (in million pesos) |
December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Type of good or service |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Service revenue |  |  | 99,639 |  |  |  | 116,529 |  |  |  | — |  |  |  | (30,417 | ) |  |  | 185,751 |
Non-service revenue |  |  | 6,980 |  |  |  | 534 |  |  |  | — |  |  |  | (8 | ) |  |  | 7,506 |
Total revenues from contracts with customers |  |  | 106,619 |  |  |  | 117,063 |  |  |  | — |  |  |  | (30,425 | ) |  |  | 193,257 |
Timing of revenue recognition |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Transferred over time |  |  | 99,639 |  |  |  | 116,529 |  |  |  | — |  |  |  | (30,417 | ) |  |  | 185,751 |
Transferred at a point time |  |  | 6,980 |  |  |  | 534 |  |  |  | — |  |  |  | (8 | ) |  |  | 7,506 |
Total revenues from contracts with customers |  |  | 106,619 |  |  |  | 117,063 |  |  |  | — |  |  |  | (30,425 | ) |  |  | 193,257 |
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 |
Summary of Contract Balances | Contract balances as at December 31, 2021 and 2020 consists of the following:
|  | 2021 |  |  | 2020 |
|  | (in million pesos) |
Trade and other receivables (Note 17) |  |  | 35,625 |  |  |  | 38,304 |
Contract assets |  |  | 2,306 |  |  |  | 2,559 |
Contract liabilities and unearned revenues (Notes 22 and 24) |  |  | 13,621 |  |  |  | 9,571 |
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, 2021, 2020 and 2019.
|  | 2021 |  |  | 2020 |  |  | 2019 |
|  | (in million pesos) |
Balances at beginning of the year |  |  | 92 |  |  |  | 70 |  |  |  | 131 |
Provisions |  |  | 32 |  |  |  | — |  |  |  | — |
Reclassification |  |  | (69 | ) |  |  | 22 |  |  |  | (61 | )
Balances at end of the year |  |  | 55 |  |  |  | 92 |  |  |  | 70 |
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, 2021, 2020 and 2019 are as follows:
|  | 2021 |  |  | 2020 |  |  | 2019 |
|  | (in million pesos) |
Balances at beginning of the year |  |  | 9,571 |  |  |  | 8,483 |  |  |  | 7,182 |
Deferred during the year |  |  | 138,346 |  |  |  | 127,160 |  |  |  | 111,084 |
Recognized as revenue during the year |  |  | (134,296 | ) |  |  | (126,072 | ) |  |  | (109,783 | )
Balances at end of the year |  |  | 13,621 |  |  |  | 9,571 |  |  |  | 8,483 |
Summary of Contract Liabilities and Unearned Revenues Account | The contract liabilities and unearned revenues accounts as at December 31, 2021 and 2020 are as follows:
|  | 2021 |  |  | 2020 |
|  | (in million pesos) |
Unearned revenues from prepaid contracts |  |  | 6,716 |  |  |  | 6,185 |
Advance monthly service fees |  |  | 2,476 |  |  |  | 1,747 |
Short-term advances for installation services |  |  | 2,355 |  |  |  | 1,167 |
Leased facilities |  |  | 2,045 |  |  |  | 446 |
Long-term advances from equipment |  |  | 29 |  |  |  | 26 |
Total contract liabilities and unearned revenues |  |  | 13,621 |  |  |  | 9,571 |
Contract liabilities: |  |  |  |  |  |  |  |
Noncurrent (Note 22) |  |  | 223 |  |  |  | 4 |
Current (Note 24) |  |  | 21 |  |  |  | 12 |
Unearned revenues: |  |  |  |  |  |  |  |
Noncurrent (Note 22) |  |  | 3,335 |  |  |  | 972 |
Current (Note 24) |  |  | 10,042 |  |  |  | 8,583 |
Summary of Selling, General and Administrative Expenses | Selling, general and administrative expenses for the years ended December 31, 2021, 2020 and 2019 consist of the following:
|  | 2021 |  |  | 2020 |  |  | 2019 |
|  | (in million pesos) |
Compensation and employee benefits |  |  | 25,344 |  |  |  | 26,833 |  |  |  | 24,883 |
Repairs and maintenance (Notes 14, 18 and 25) |  |  | 24,653 |  |  |  | 21,555 |  |  |  | 20,007 |
Professional and other contracted services (Note 25) |  |  | 8,371 |  |  |  | 7,307 |  |  |  | 7,408 |
Selling and promotions (Note 25) |  |  | 6,716 |  |  |  | 6,542 |  |  |  | 5,395 |
Taxes and licenses |  |  | 4,331 |  |  |  | 5,495 |  |  |  | 4,570 |
Amortization of intangible assets (Note 15) |  |  | 2,822 |  |  |  | 2,496 |  |  |  | 758 |
Rent (Notes 10 and 25) |  |  | 2,231 |  |  |  | 1,384 |  |  |  | 1,290 |
Insurance and security services (Note 25) |  |  | 1,739 |  |  |  | 1,699 |  |  |  | 1,671 |
Communication, training and travel (Note 25) |  |  | 977 |  |  |  | 903 |  |  |  | 1,203 |
Other expenses |  |  | 1,119 |  |  |  | 1,041 |  |  |  | 1,045 |
Total selling, general and administrative expenses |  |  | 78,303 |  |  |  | 75,255 |  |  |  | 68,230 |
Summary of Compensation and Employee Benefits | Compensation and employee benefits for the years ended December 31, 2021, 2020 and 2019 consist of the following:
|  | 2021 |  |  | 2020 |  |  | 2019 |
|  | (in million pesos) |
Salaries and other employee benefits |  |  | 21,676 |  |  |  | 20,856 |  |  |  | 19,931 |
Pension benefit costs (Note 26) |  |  | 2,213 |  |  |  | 2,218 |  |  |  | 1,018 |
Incentive plan (Note 26) |  |  | 1,186 |  |  |  | 1,134 |  |  |  | 638 |
MRP |  |  | 269 |  |  |  | 2,625 |  |  |  | 3,296 |
Total compensation and employee benefits |  |  | 25,344 |  |  |  | 26,833 |  |  |  | 24,883 |
Summary of Cost of Sales and Services | Cost of sales and services for the years ended December 31, 2021, 2020 and 2019 consist of the following:
|  | 2021 |  |  | 2020 |  |  | 2019 |
|  | (in million pesos) |
Cost of computers, mobile handsets and broadband data modems (Note 18) |  |  | 8,286 |  |  |  | 8,275 |  |  |  | 9,402 |
Cost of services (Note 18) |  |  | 3,492 |  |  |  | 2,991 |  |  |  | 3,680 |
Cost of point-product-sales (Note 18) |  |  | 1,563 |  |  |  | 1,029 |  |  |  | 347 |
Total cost of sales and services |  |  | 13,341 |  |  |  | 12,295 |  |  |  | 13,429 |
Summary of Asset Impairment | Asset impairment for the years ended December 31, 2021, 2020 and 2019 consist of the following:
|  | 2021 |  |  | 2020 |  |  | 2019 |
|  | (in million pesos) |
Trade and other receivables (Note 17) |  |  | 3,737 |  |  |  | 6,446 |  |  |  | 4,071 |
Inventories and supplies (Note 18) |  |  | 847 |  |  |  | 934 |  |  |  | 471 |
Contract assets (Note 3) |  |  | 253 |  |  |  | 266 |  |  |  | 291 |
Property and equipment (Note 9) |  |  | 148 |  |  |  | — |  |  |  | — |
Total asset impairment |  |  | 4,985 |  |  |  | 7,646 |  |  |  | 4,833 |
Summary of Other Income (Expenses) - Net | Other income (expenses) – net for the years ended December 31, 2021, 2020 and 2019 consist of the following:
|  | 2021 |  |  | 2020 |  |  | 2019 |
|  | (in million pesos) |
Reversal of provisions |  |  | 2,594 |  |  |  | 2,679 |  |  |  | 999 |
Gains (losses) on derivative financial instruments – net (Note 28) |  |  | 1,400 |  |  |  | (378 | ) |  |  | (284 | )
Gain on debt modification(1) |  |  | 1,372 |  |  |  | — |  |  |  | — |
Gains on sale of property and equipment (Note 9) |  |  | 884 |  |  |  | 3,369 |  |  |  | 88 |
Gain on dilution of shares (Note 11) |  |  | 826 |  |  |  | 394 |  |  |  | — |
Interest income |  |  | 656 |  |  |  | 1,210 |  |  |  | 1,745 |
Gain on change in fair value of Phunware, Inc., or Phunware (Note 12) |  |  | 306 |  |  |  | — |  |  |  | — |
Gain on sale of Phunware (Note 12) |  |  | 115 |  |  |  | — |  |  |  | — |
Equity share in net losses of associates and joint ventures (Note 11) |  |  | (1,101 | ) |  |  | (2,328 | ) |  |  | (1,535 | )
Foreign exchange gains (losses) – net (Note 28) |  |  | (3,890 | ) |  |  | 1,488 |  |  |  | 424 |
Financing costs – net |  |  | (10,414 | ) |  |  | (10,086 | ) |  |  | (8,553 | )
Others – net (Notes 11, 12 and 14) |  |  | 645 |  |  |  | 491 |  |  |  | 51 |
Total other expenses – net |  |  | (6,607 | ) |  |  | (3,161 | ) |  |  | (7,065 | )
| (1) | PLDT and Smart re-negoiateted certain terms of selected outstanding Philippine Peso loans in 2021. Under IFRS 9, the difference of the current carrying value and the present value of the modified cash flows of the loan should be recognized as a gain or loss on debt modification.
Summary of Interest Income | Interest income for the years ended December 31, 2021, 2020 and 2019 consist of the following:
|  | 2021 |  |  | 2020 |  |  | 2019 |
|  | (in million pesos) |
Interest income arising from revenue contracts with customers |  |  | 299 |  |  |  | 414 |  |  |  | 431 |
Interest income on cash and cash equivalents (Note 16) |  |  | 269 |  |  |  | 560 |  |  |  | 1,022 |
Interest income on financial instruments at FVPL |  |  | 23 |  |  |  | 8 |  |  |  | — |
Interest income on financial instruments at amortized cost (Note 13) |  |  | 13 |  |  |  | 143 |  |  |  | 45 |
Interest income on financial instruments at FVOCI |  |  | 2 |  |  |  | 70 |  |  |  | 239 |
Interest income – others |  |  | 50 |  |  |  | 15 |  |  |  | 8 |
Total interest income |  |  | 656 |  |  |  | 1,210 |  |  |  | 1,745 |
Summary of Financing Costs - Net | Financing costs – net for the years ended December 31, 2021, 2020 and 2019 consist of the following:
|  | 2021 |  |  | 2020 |  |  | 2019 |
|  | (in million pesos) |
Interest on loans and other related items (Notes 21 and 28) |  |  | 10,482 |  |  |  | 10,333 |  |  |  | 8,730 |
Accretion on lease liabilities (Note 10) |  |  | 1,170 |  |  |  | 1,125 |  |  |  | 1,061 |
Accretion on financial liabilities (Note 21) |  |  | 239 |  |  |  | 146 |  |  |  | 122 |
Financing charges |  |  | 105 |  |  |  | 79 |  |  |  | 95 |
Capitalized interest (Notes 9 and 29) |  |  | (1,582 | ) |  |  | (1,597 | ) |  |  | (1,455 | )
Total financing costs – net |  |  | 10,414 |  |  |  | 10,086 |  |  |  | 8,553 |

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