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Prepayments and Other Non-Financial Assets | 12 Months Ended
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Dec. 31, 2023
Prepayments [Abstract] |
Prepayments and Other Non-Financial Assets | 18. Prepayments and Other Non-Financial Assets As at December 31, 2023 and 2022, this account consists of:
|  | 2023 |  |  | 2022 |
|  | (in million pesos) |
Advances to suppliers and contractors |  |  | 47,706 |  |  |  | 69,326 |
Subscriber contract costs |  |  | 28,926 |  |  |  | 6,286 |
Prepaid taxes |  |  | 11,914 |  |  |  | 14,911 |
Prepaid fees and licenses |  |  | 2,022 |  |  |  | 1,983 |
Prepaid benefit costs (Note 25) |  |  | 917 |  |  |  | 1,598 |
Prepaid repairs and maintenance |  |  | 455 |  |  |  | 542 |
Prepaid rent |  |  | 399 |  |  |  | 528 |
Prepaid insurance (Note 24) |  |  | 150 |  |  |  | 120 |
Other prepayments |  |  | 518 |  |  |  | 455 |
Other non-financial assets |  |  | 573 |  |  |  | 834 |
|  |  | 93,580 |  |  |  | 96,583 |
Less current portion of prepayments and other nonfinancial assets |  |  | 13,215 |  |  |  | 15,364 |
Noncurrent portion of prepayments and other nonfinancial assets |  |  | 80,365 |  |  |  | 81,219 |
Advances to suppliers and contractors are non-interest bearing and are to be applied to contractors’ subsequent progress billings for projects. Subscriber contract costs consist of cost to obtain and cost to fulfill a contract with subscribers. Cost to obtain amounted to Php 6,286 million and Php 4,456 million as at December 31, 2023 and 2022, respectively. Amortization of cost to obtain presented under selling and promotions amounted to Php 3,147 million in 2023 and Php 980 million in 2022. Costs to fulfill amounted to Php 24,470 million as at December 31, 2023. Prepaid taxes include creditable withholding taxes and input VAT. Prepaid fees and licenses include advance payments for NTC license fees and unexpired portion of fees paid to the NTC. Prepaid benefit costs represent excess of fair value of plan assets over present value of defined benefit obligations recognized in our consolidated statements of financial position. See Note 25 – Pension and Other Employee Benefits.

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- Definition The disclosure of prepayments and other assets. [Refer: Other assets; Prepayments] + 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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- Definition Prepayments. + References No definition available. + Details
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