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Cash and Cash Equivalents | 12 Months Ended
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Dec. 31, 2022
Cash and cash equivalents [abstract] |
Cash and Cash Equivalents | 16. Cash and Cash Equivalents As at December 31, 2022 and 2021, this account consists of:
|  | 2022 |  |  | 2021 |
|  |  |  | (in million pesos) |
Cash on hand and in banks (Note 28) |  |  | 16,533 |  |  |  | 10,616 |
Temporary cash investments (Note 28) |  |  | 8,678 |  |  |  | 13,291 |
|  |  | 25,211 |  |  |  | 23,907 |
Cash in banks earn interest at prevailing bank deposit rates. Temporary cash investments are made for varying periods of up to three months depending on our immediate cash requirements and earn interest at the prevailing temporary cash investment rates. Due to the short-term nature of such transactions, the carrying value approximates the fair value of our temporary cash investments. See Note 28 – Financial Assets and Liabilities. Interest income earned from cash in banks and temporary cash investments amounted to Php 255 million, Php 269 million and Php 560 million for the years ended December 31, 2022, 2021 and 2020, respectively. See Note 5 – Income and Expenses.

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- Definition The disclosure of cash and cash equivalents. [Refer: Cash and cash equivalents] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2022-03-24 -Paragraph 10 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2022-en-r&anchor=para_10_e&doctype=Standard -URIDate 2022-03-24 + Details
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