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Accounts Payable | 12 Months Ended
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Dec. 31, 2023
Subclassifications of assets, liabilities and equities [abstract] |
Accounts Payable | 22. Accounts Payable As at December 31, 2023 and 2022, this account consists of:
|  | 2023 |  |  | 2022 |
|  | (in million pesos) |
Suppliers and contractors (Note 27) |  |  | 74,518 |  |  |  | 98,656 |
Taxes (Note 26) |  |  | 3,964 |  |  |  | 4,052 |
Carriers and others (Note 27) |  |  | 2,362 |  |  |  | 2,209 |
Related parties (Notes 24 and 27) |  |  | 170 |  |  |  | 270 |
|  |  | 81,014 |  |  |  | 105,187 |
Certain suppliers entered into Trade Financing Arrangements (TFA) to sell a portion of their receivables amounting to Php 20,553 million in 2023. This amount is included in the payables to Suppliers and Contractors. Under the terms of the TFAs, the Purchaser will have exclusive ownership of the purchased receivables and all of its rights, title and interest. There were no changes in the payment terms. In February 2024, certain major supplier entered into a new TFA to sell a portion of its receivables amounting to Php 495 million. For terms and conditions pertaining to the payables to related parties, see Note 24 – Related Party Transactions. For detailed discussion on the PLDT Group’s liquidity risk management processes, see Note 27 – Financial Assets and Liabilities – Liquidity Risk.

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