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CONSOLIDATED STATEMENTS OF CASH FLOWS - PHP (₱)
₱ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES      
Income before income tax ₱ 34,154 ₱ 33,021 ₱ 32,336
Adjustments for:      
Depreciation and amortization (Notes 9 and 10) 52,169 47,480 39,656
Interest on loans and other related items – net (Note 5) 8,900 8,736 7,275
Asset impairment (Note 5) 4,985 7,646 4,833
Foreign exchange losses (gains) – net (Notes 5 and 28) 3,890 (1,488) (424)
Amortization of intangible assets (Notes 5 and 15) 2,822 2,496 758
Pension benefit costs (Notes 5 and 26) 2,213 2,218 1,018
Incentive plan (Notes 5 and 26) 1,186 1,134 638
Accretion on lease liabilities (Notes 5, 10 and 29) 1,170 1,125 1,061
Equity share in net losses of associates and joint ventures (Notes 5 and 11) 1,101 2,328 1,535
Accretion on financial liabilities (Notes 5 and 21) 239 146 122
Impairment of investments (Note 11) 60 60 34
Interest income (Note 5) (656) (1,210) (1,745)
Gains on dilution of shares (Notes 5 and 11) (826) (394)  
Losses (gains) on disposal of property and equipment (Notes 4, 5 and 9) (884) (3,369) 88
Losses (gains) on derivative financial instruments – net (Notes 5 and 28) (1,400) 378 284
Investment derecognized (Note 12)   599  
Others (2,254) (3,072) 696
Operating income before changes in assets and liabilities 106,869 97,834 88,165
Decrease (increase) in:      
Prepayments (34,002) (18,894) (28,898)
Contract assets (38) 160 337
Trade and other receivables (3,713) (585) (1,560)
Other financial and non-financial assets (120) 324 (198)
Inventories and supplies 57 (1,017) 12
Increase (decrease) in:      
Customer's deposits (101) 166 12
Pension and other employee benefits (3,846) (249) (7,965)
Other noncurrent liabilities (95) 5,220 (1,559)
Accounts payable 29,382 (2,813) 18,768
Accrued expenses and other current liabilities (301) 7,178 4,375
Net cash flows generated from operations 94,092 87,324 71,489
Income taxes paid (2,122) (2,248) (2,097)
Net cash flows from operating activities 91,970 85,076 69,392
CASH FLOWS USED IN INVESTING ACTIVITIES      
Interest received 714 1,106 1,723
Proceeds from:      
Maturity of short-term investments 2,518 4,375 1,415
Disposal of property and equipment (Note 9) 1,217 5,830 224
Redemption of investment in debt securities (Note 13) 993 150  
Disposal of financial assets at fair value through profit or loss (Note 12) 482 2,020 1,023
Disposal of investments in associates and joint ventures 359    
Collection of financial assets at fair value through other comprehensive income 170 2,534 1,771
Dividends received (Note 11)   316  
Disposal of investment properties (Note 14)     11
Payments for:      
Purchase of investment in debt securities (Note 13) (404) (1,194)  
Interest capitalized to property and equipment (Notes 5, 9 and 29) (1,582) (1,597) (1,455)
Acquisition of investments in associates and joint ventures (Note 11) (1,754) (579) (20)
Purchase of short-term investments (3,847) (5,147) (572)
Purchase of property and equipment (Note 9) (102,395) (76,503) (88,246)
Acquisition of investments in subsidiaries – net of cash acquired (Note 11)     (80)
Net additions to right-of-use assets (Note 10)     (145)
Decrease (increase) in other financial and non-financial assets (111) 20 35
Net cash flows used in investing activities (103,640) (68,669) (84,316)
CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES      
Availments of long-term debt (Notes 21 and 29) 51,500 61,271 37,500
Availments of short-term debt (Note 21)   10,000  
Payments for:      
Derivative financial instruments (Notes 28 and 29) (25) (430) (50)
Distribution charges on perpetual notes (Note 20) (236) (236) (236)
Debt issuance costs (Notes 21 and 29) (397) (927) (195)
Obligations under lease liabilities (Notes 10 and 29) (6,547) (5,781) (5,399)
Interest – net of capitalized portion (Notes 5, 21 and 29) (8,922) (8,348) (7,143)
Cash dividends (Notes 20 and 29) (17,712) (16,721) (15,592)
Long-term debt (Notes 21 and 29) (22,565) (28,365) (20,494)
Short-term debt (Note 21)   (10,000)  
Increase in treasury shares under employee trust benefits     (4)
Net cash flows from (used in) financing activities (4,904) 463 (11,613)
NET EFFECT OF FOREIGN EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS 244 (1,002) (748)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (16,330) 15,868 (27,285)
CASH AND CASH EQUIVALENTS AT BEGINNING OF THE YEAR (Note 16) 40,237 24,369 51,654
CASH AND CASH EQUIVALENTS AT END OF THE YEAR (Note 16) ₱ 23,907 ₱ 40,237 ₱ 24,369