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Deferred Credits and Other Noncurrent Liabilities | 12 Months Ended
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Dec. 31, 2023
Deferred Credits And Other Noncurrent Liabilities [Abstract] |
Deferred Credits and Other Noncurrent Liabilities | 21. Deferred Credits and Other Noncurrent Liabilities As at December 31, 2023 and 2022, this account consists of:
|  | 2023 |  |  | 2022 |
|  | (in million pesos) |
Contract liabilities and unearned revenues (Note 5) |  |  | 8,206 |  |  |  | 7,615 |
Provision for asset retirement obligations |  |  | 1,164 |  |  |  | 1,514 |
Accrual of capital expenditures under long-term financing |  |  | 198 |  |  |  | 316 |
Others |  |  | 39 |  |  |  | 56 |
|  |  | 9,607 |  |  |  | 9,501 |
The following table summarizes the changes to provision for asset retirement obligations for the years ended December 31, 2023 and 2022:
|  | 2023 |  |  | 2022 |
|  | (in million pesos) |
Provision for asset retirement obligations at beginning of the year |  |  | 1,514 |  |  |  | 2,121 |
Capitalized to ROU assets during the year |  |  | 163 |  |  |  | 65 |
Accretion expenses |  |  | 63 |  |  |  | 54 |
Settlement of obligations and others |  |  | (2 | ) |  |  | (1 | )
Change in assumptions |  |  | (30 | ) |  |  | (935 | )
Revaluation due to change in IBR |  |  | (175 | ) |  |  | 442 |
Reclassification to liabilities associated with assets classified as held-for-sale |  |  | (369 | ) |  |  | (232 | )
Provision for asset retirement obligations at end of the year |  |  | 1,164 |  |  |  | 1,514 |
Accrual of capital expenditures under long-term financing represents expenditures related to the expansion and upgrade of our network facilities which are not due to be settled within one year. Such accruals are settled through refinancing from long-term loans obtained from the banks. See Note 20 – Interest-bearing Financial Liabilities.

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- Definition Abstract stands for deferred credits and other noncurrent liabilities. + References No definition available. + Details
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- Definition Disclosure of deferred credits and other noncurrent liabilities. + References No definition available. + Details
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