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Trade and Other Receivables (Tables) | 12 Months Ended
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Dec. 31, 2022
Trade and other receivables [abstract] |
Summary of Trade and Other Receivables | As at December 31, 2022 and 2021, this account consists of receivables from:
|  | 2022 |  |  | 2021 |
|  |  |  | (in million pesos) |
Retail subscribers (Note 28) |  |  | 17,216 |  |  |  | 15,676 |
Corporate subscribers (Note 28) |  |  | 15,151 |  |  |  | 13,079 |
Foreign administrations (Note 28) |  |  | 1,058 |  |  |  | 1,341 |
Domestic carriers (Note 28) |  |  | 296 |  |  |  | 241 |
Dealers, agents and others (Note 28) |  |  | 6,195 |  |  |  | 5,288 |
|  |  | 39,916 |  |  |  | 35,625 |
Less: Allowance for expected credit losses |  |  | 13,661 |  |  |  | 13,835 |
|  |  | 26,255 |  |  |  | 21,790 |
The gross carrying amount of financial assets not subject to impairment also represents our maximum exposure to credit risk as at December 31, 2022 and 2021 are as follows:
|  | 2022 |  |  | 2021 |
|  |  |  | (in million pesos) |
Financial assets at fair value through profit or loss (Note 12) |  |  | 432 |  |  |  | 339 |
Derivative financial assets – net of current portion |  |  | 81 |  |  |  | 48 |
Current portion of derivative financial assets |  |  | — |  |  |  | 93 |
Total |  |  | 513 |  |  |  | 480 |
Summary of Changes in the Allowance for Expected Credit Losses | The following table explains the changes in the allowance for expected credit losses as at December 31, 2022 and 2021:
| Retail Subscribers |  |  | Corporate Subscribers |  |  | Foreign Administrations |  |  | Domestic Carriers |  |  | Dealers, Agents and Others |  |  | Total |  |  |
| Stage 1 |  | Stage 2 |  | Stage 3 |  |  | Stage 1 |  | Stage 2 |  | Stage 3 |  |  | Stage 2 |  | Stage 3 |  |  | Stage 2 |  | Stage 3 |  |  | Stage 2 |  | Stage 3 |  |  | Stage 1 |  | Stage 2 |  | Stage 3 |  |  |
|  |  | Lifetime ECL |  |  |  |  | Lifetime ECL |  |  | Lifetime ECL |  |  | Lifetime ECL |  |  | Lifetime ECL |  |  |  |  | Lifetime ECL |  | Total |
| (in million pesos) |
December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balances at beginning of the year |  | — |  |  | 1,573 |  |  | 6,466 |  |  |  | — |  |  | 1,378 |  |  | 3,330 |  |  |  | — |  |  | 121 |  |  |  | — |  |  | 14 |  |  |  | 87 |  |  | 866 |  |  |  | — |  |  | 3,038 |  |  | 10,797 |  |  | 13,835 |
Provisions and other adjustments (Note 5) |  | — |  |  | 782 |  |  | 3,420 |  |  |  | — |  |  | 427 |  |  | 489 |  |  |  | 1 |  |  | 33 |  |  |  | — |  |  | (13 | ) |  |  | 3 |  |  | 14 |  |  |  | — |  |  | 1,213 |  |  | 3,943 |  |  | 5,156 |
Reclassifications and reversals |  | — |  |  | (489 | ) |  | 578 |  |  |  | — |  |  | (129 | ) |  | (27 | ) |  |  | — |  |  | — |  |  |  | — |  |  | — |  |  |  | 562 |  |  | 6 |  |  |  | — |  |  | (56 | ) |  | 557 |  |  | 501 |
Translation adjustments |  | — |  |  | — |  |  | — |  |  |  | — |  |  | 41 |  |  | 24 |  |  |  | — |  |  | — |  |  |  | — |  |  | — |  |  |  | — |  |  | — |  |  |  | — |  |  | 41 |  |  | 24 |  |  | 65 |
Write-offs |  | — |  |  | — |  |  | (5,441 | ) |  |  | — |  |  | — |  |  | (434 | ) |  |  | — |  |  | (21 | ) |  |  | — |  |  | — |  |  |  | — |  |  | — |  |  |  | — |  |  | — |  |  | (5,896 | ) |  | (5,896 | )
Balances at end of the year |  | — |  |  | 1,866 |  |  | 5,023 |  |  |  | — |  |  | 1,717 |  |  | 3,382 |  |  |  | 1 |  |  | 133 |  |  |  | — |  |  | 1 |  |  |  | 652 |  |  | 886 |  |  |  | — |  |  | 4,236 |  |  | 9,425 |  |  | 13,661 |
December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balances at beginning of the year |  | — |  |  | 2,433 |  |  | 7,557 |  |  |  | — |  |  | 1,380 |  |  | 3,478 |  |  |  | 9 |  |  | 227 |  |  |  | 3 |  |  | 58 |  |  |  | 135 |  |  | 971 |  |  |  | — |  |  | 3,960 |  |  | 12,291 |  |  | 16,251 |
Provisions and other adjustments (Note 5) |  | — |  |  | (820 | ) |  | 3,516 |  |  |  | — |  |  | (18 | ) |  | 1,045 |  |  |  | (9 | ) |  | 4 |  |  |  | (3 | ) |  | 8 |  |  |  | (48 | ) |  | 62 |  |  |  | — |  |  | (898 | ) |  | 4,635 |  |  | 3,737 |
Reclassifications and reversals |  | — |  |  | (5 | ) |  | 86 |  |  |  | — |  |  | (1 | ) |  | (31 | ) |  |  | — |  |  | (12 | ) |  |  | — |  |  | — |  |  |  | — |  |  | (30 | ) |  |  | — |  |  | (6 | ) |  | 13 |  |  | 7 |
Write-offs |  | — |  |  | (35 | ) |  | (4,693 | ) |  |  | — |  |  | — |  |  | (1,168 | ) |  |  | — |  |  | (98 | ) |  |  | — |  |  | (52 | ) |  |  | — |  |  | (137 | ) |  |  | — |  |  | (35 | ) |  | (6,148 | ) |  | (6,183 | )
Translation adjustments |  | — |  |  | — |  |  | — |  |  |  | — |  |  | 17 |  |  | 6 |  |  |  | — |  |  | — |  |  |  | — |  |  | — |  |  |  | — |  |  | — |  |  |  | — |  |  | 17 |  |  | 6 |  |  | 23 |
Balances at end of the year |  | — |  |  | 1,573 |  |  | 6,466 |  |  |  | — |  |  | 1,378 |  |  | 3,330 |  |  |  | — |  |  | 121 |  |  |  | — |  |  | 14 |  |  |  | 87 |  |  | 866 |  |  |  | — |  |  | 3,038 |  |  | 10,797 |  |  | 13,835 |

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