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Deferred Credits and Other Noncurrent Liabilities (Tables) | 12 Months Ended
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Dec. 31, 2023
Deferred Credits And Other Noncurrent Liabilities [Abstract] |
Summary of 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 |
Summary of Changes to Provision for Asset Retirement Obligations | 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 |

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