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v3.23.1

Accounts Payable | 12 Months Ended
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Dec. 31, 2022
Subclassifications of assets, liabilities and equities [abstract] |
Accounts Payable | 23. Accounts Payable As at December 31, 2022 and 2021, this account consists of:
|  | 2022 |  |  | 2021 |
|  |  |  | (in million pesos) |
Suppliers and contractors (Note 28) |  |  | 80,725 |  |  |  | 85,903 |
Taxes (Note 27) |  |  | 4,052 |  |  |  | 1,741 |
Carriers and other customers (Note 28) |  |  | 1,745 |  |  |  | 1,469 |
Related parties (Notes 25 and 28) |  |  | 270 |  |  |  | 200 |
Others |  |  | 18,395 |  |  |  | 10,405 |
|  |  | 105,187 |  |  |  | 99,718 |
Accounts payable are noninterest-bearing and are normally settled within 180 days. In 2021, two of our major suppliers entered into Trade Financing Arrangements, or TFA, to sell a portion of their Philippine Peso receivables from the Parent Company amounting to Php 7,559 million and from Smart amounting to Php 1,834 million. Under the terms of the TFA, the Purchaser will have exclusive ownership of the purchased receivables and all of its rights, title and interest. In 2022, four of our major suppliers entered into new TFAs to sell a portion of their Philippine Peso receivables from the Parent Company amounting to Php 7,049 million and from Smart amounting to Php 10,882 million. The balance of the amount reclassified from “Accounts Payable – Suppliers and contractors” to “Accounts Payable – Others” amounted to Php 17,931 million and Php 9,393 million as at December 31, 2022 and 2021, respectively. There were no changes in the payment terms. For terms and conditions pertaining to the payables to related parties, see Note 25 – Related Party Transactions. For detailed discussion on the PLDT Group’s liquidity risk management processes, see Note 28 – Financial Assets and Liabilities – Liquidity Risk.

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