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Cash and Cash Equivalents | 12 Months Ended
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Dec. 31, 2023
Cash and cash equivalents [abstract] |
Cash and Cash Equivalents | 15. Cash and Cash Equivalents As at December 31, 2023 and 2022, this account consists of:
|  | 2023 |  |  | 2022 |
|  | (in million pesos) |
Cash on hand and in banks (Note 27) |  |  | 9,993 |  |  |  | 16,533 |
Temporary cash investments (Note 27) |  |  | 6,184 |  |  |  | 8,678 |
|  |  | 16,177 |  |  |  | 25,211 |
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 27 – Financial Assets and Liabilities. Interest income earned from cash in banks and temporary cash investments amounted to Php 469 million, Php 255 million and Php 268 million for the years ended December 31, 2023, 2022 and 2021, 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 2023-01-01 -Paragraph 10 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_10_e&doctype=Standard -URIDate 2023-03-23 + Details
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