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Summary of Material Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2024
Disclosure Of Significant Accounting Policies [Abstract] |
Summary of Subsidiaries | Our consolidated financial statements include the financial statements of PLDT and the following subsidiaries (collectively, the “PLDT Group”) as at December 31, 2024 and 2023:
|  |  |  |  |  | 2024 |  |  | 2023 |
|  | Place of |  |  |  | Percentage of Ownership |
Name of Subsidiary |  | Incorporation |  | Principal Business Activity |  | Direct |  |  | Indirect |  |  | Direct |  |  | Indirect |
Wireless |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Smart: |  | Philippines |  | Cellular mobile services |  |  | 100.0 |  |  |  | — |  |  |  | 100.0 |  |  |  | — |
Smart Broadband, Inc., or SBI, and Subsidiary |  | Philippines |  | Internet broadband distribution services |  |  | — |  |  |  | 100.0 |  |  |  | — |  |  |  | 100.0 |
Primeworld Digital Systems, Inc., or PDSI |  | Philippines |  | Internet broadband distribution services |  |  | — |  |  |  | 100.0 |  |  |  | — |  |  |  | 100.0 |
I-Contacts Corporation(a) |  | Philippines |  | Operations support servicing business |  |  | — |  |  |  | 100.0 |  |  |  | — |  |  |  | 100.0 |
Far East Capital Limited, or FECL(a) |  | Cayman Islands |  | Cost effective offshore financing and risk management activities for Smart |  |  | — |  |  |  | 100.0 |  |  |  | — |  |  |  | 100.0 |
PH Communications Holdings Corporation(a) |  | Philippines |  | Investment company |  |  | — |  |  |  | 100.0 |  |  |  | — |  |  |  | 100.0 |
Connectivity Unlimited Resource Enterprise, Inc.(a) |  | Philippines |  | Cellular mobile services |  |  | — |  |  |  | 100.0 |  |  |  | — |  |  |  | 100.0 |
Francom Holdings, Inc.(a) |  | Philippines |  | Investment company |  |  | — |  |  |  | 100.0 |  |  |  | — |  |  |  | 100.0 |
Chikka Holdings Limited, or Chikka, and Subsidiaries, or Chikka Group(a) |  | British Virgin Islands |  | Content provider, mobile applications development and services |  |  | — |  |  |  | 100.0 |  |  |  | — |  |  |  | 100.0 |
Wifun, Inc.(a) |  | Philippines |  | Software developer and selling of WiFi access equipment |  |  | — |  |  |  | 100.0 |  |  |  | — |  |  |  | 100.0 |
PLDT Global, Inc. |  | Philippines |  | Cross-border digital platforms and other allied services |  |  | 100.0 |  |  |  | — |  |  |  | 100.0 |  |  |  | — |
ACeS Philippines Cellular Satellite Corporation, or ACeS Philippines(a) |  | Philippines |  | Satellite information and messaging services |  |  | 88.5 |  |  |  | 11.5 |  |  |  | 88.5 |  |  |  | 11.5 |
Digitel Mobile Philippines, Inc., or DMPI, (a wholly-owned subsidiary of Digitel) |  | Philippines |  | Cellular mobile services |  |  | — |  |  |  | 99.6 |  |  |  | — |  |  |  | 99.6 |
Fixed Line |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
PLDT Clark Telecom, Inc., or ClarkTel |  | Philippines |  | Telecommunications services |  |  | 100.0 |  |  |  | — |  |  |  | 100.0 |  |  |  | — |
PLDT Subic Telecom, Inc., or SubicTel(a) |  | Philippines |  | Telecommunications services |  |  | 100.0 |  |  |  | — |  |  |  | 100.0 |  |  |  | — |
PLDT Global Corporation, or PLDT Global, and Subsidiaries |  | British Virgin Islands |  | Telecommunications services |  |  | 100.0 |  |  |  | — |  |  |  | 100.0 |  |  |  | — |
PLDT-Philcom, Inc., or Philcom, and Subsidiaries, or Philcom Group(a) |  | Philippines |  | Telecommunications services |  |  | 100.0 |  |  |  | — |  |  |  | 100.0 |  |  |  | — |
Talas Data Intelligence, Inc.(a) |  | Philippines |  | Business infrastructure and solutions; intelligent data processing and implementation services and data analytics insight generation |  |  | 100.0 |  |  |  | — |  |  |  | 100.0 |  |  |  | — |
Multisys Technologies Corporation, or Multisys(b) |  | Philippines |  | Software development and IT solutions services |  |  | — |  |  |  | 45.7 |  |  |  | — |  |  |  | 50.7 |
(a) Ceased commercial operations. (b) On January 5, 2024, PLDT Global Investments Holdings, Inc., or PGIH, sold 227 common shares of Multisys, thereby decreasing its ownership from 50.72% to 45.73%.
|  |  |  |  |  | 2024 |  |  | 2023 |
|  | Place of |  |  |  | Percentage of Ownership |
Name of Subsidiary |  | Incorporation |  | Principal Business Activity |  | Direct |  |  | Indirect |  |  | Direct |  |  | Indirect |
ePLDT, Inc., or ePLDT: |  | Philippines |  | Information and communications infrastructure for internet-based services, e-commerce, customer relationship management and IT related services |  |  | 100.0 |  |  |  | — |  |  |  | 100.0 |  |  |  | — |
IP Converge Data Services, Inc., or IPCDSI, and Subsidiary, or IPCDSI Group |  | Philippines |  | Information and communications infrastructure for internet-based services, e-commerce, customer relationship management and IT related services |  |  | — |  |  |  | 100.0 |  |  |  | — |  |  |  | 100.0 |
Curo Teknika, Inc., or Curo(a) |  | Philippines |  | Managed IT outsourcing |  |  | — |  |  |  | 100.0 |  |  |  | — |  |  |  | 100.0 |
ABM Global Solutions, Inc., or AGS, and Subsidiaries, or AGS Group(a) |  | Philippines |  | Internet-based purchasing, IT consulting and professional services |  |  | — |  |  |  | 100.0 |  |  |  | — |  |  |  | 100.0 |
ePDS, Inc., or ePDS(a) |  | Philippines |  | Bills printing and other related value-added services, or VAS |  |  | — |  |  |  | 100.0 |  |  |  | — |  |  |  | 100.0 |
netGames, Inc.(a) |  | Philippines |  | Gaming support services |  |  | — |  |  |  | 57.5 |  |  |  | — |  |  |  | 57.5 |
MVP Rewards Loyalty Solutions, Inc., or MRSI(a) |  | Philippines |  | Full-services customer rewards and loyalty programs |  |  | — |  |  |  | 100.0 |  |  |  | — |  |  |  | 100.0 |
VITRO, Inc., or Vitro |  | Philippines |  | Information and communications infrastructure for internet-based services, e-commerce, customer relationship management and IT related services |  |  | — |  |  |  | 100.0 |  |  |  | — |  |  |  | 100.0 |
ePLDT Capital Investment Pte. Ltd. or ePLDT Capital |  | Singapore |  | Investment holding and acquisition of companies |  |  | — |  |  |  | 100.0 |  |  |  | — |  |  |  | — |
Digitel |  | Philippines |  | Telecommunications services |  |  | 99.6 |  |  |  | — |  |  |  | 99.6 |  |  |  | — |
Digitel Information Technology Services, Inc.(a) |  | Philippines |  | Internet services |  |  | — |  |  |  | 99.6 |  |  |  | — |  |  |  | 99.6 |
PLDT-Maratel, Inc., or Maratel(a) |  | Philippines |  | Telecommunications services |  |  | 98.0 |  |  |  | — |  |  |  | 98.0 |  |  |  | — |
Bonifacio Communications Corporation, or BCC |  | Philippines |  | Telecommunications, infrastructure and related VAS |  |  | 75.0 |  |  |  | — |  |  |  | 75.0 |  |  |  | — |
Pilipinas Global Network Limited, or PGNL, and Subsidiaries |  | British Virgin Islands |  | International distributor of Filipino channels and content |  |  | 64.6 |  |  |  | — |  |  |  | 64.6 |  |  |  | — |
Others |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
PLDT Global Investments Holdings, Inc., or PGIH |  | Philippines |  | Investment company |  |  | 100.0 |  |  |  | — |  |  |  | 100.0 |  |  |  | — |
PLDT Digital Investments Pte. Ltd., or PLDT Digital, and Subsidiaries |  | Singapore |  | Investment company |  |  | 100.0 |  |  |  | — |  |  |  | 100.0 |  |  |  | — |
PLDT Communications and Energy Ventures, Inc., or PCEV |  | Philippines |  | Investment company |  |  | — |  |  |  | 99.9 |  |  |  | — |  |  |  | 99.9 |
(a) Ceased commercial operations.
Summary of Subscription Agreements | The following summarizes the subscription agreements entered into by PLDT with Kayana:
Date |  | Number of Shares Acquired
|  | (in millions)
March 24, 2024 |  | 754.5
September 27, 2024 |  | 85.5
September 30, 2024 |  | 46.5
The following summarizes the subscription agreements entered into by PCEV with MIH:
Date |  | Agreement |  | Number of Shares |  |  | Total Consideration |  |  | PCEV's Equity Interest |
|  |  |  | (in millions) |  |  |  |
March 14, 2018 |  | Acquisition of Ordinary Shares |  |  | 53.4 |  |  |  | 465 |  |  |  | 100.00 | %
March 14, 2018 |  | Subscription of Ordinary Shares |  |  | 95.9 |  |  |  | 3,806 |  |  |  | 100.00 | %
December 31, 2020 |  | Conversion of notes to Class A2 preference shares |  |  | 7.9 |  |  |  | 544 |  |  |  | 43.97 | %
March 12, 2021 |  | Exercise of warrants to subscribe Class A2 preference shares |  |  | 6.7 |  |  |  | 447 |  |  |  | 41.87 | %
June 11, 2021 |  | Subscription to Class B convertible preferred shares |  |  | 15.6 |  |  |  | 1,218 |  |  |  | 38.45 | %
April 7, 2022 |  | Subscription to Class C convertible preferred shares |  |  | 27.2 |  |  |  | 3,252 |  |  |  | 36.82 | %
December 13, 2023 |  | Subscription to Class C2 convertible preferred shares |  |  | 12.3 |  |  |  | 1,563 |  |  |  | 36.97 | %
April 5, 2024 |  | Subscription to Class C2 convertible preferred shares |  |  | 6.7 |  |  |  | 857 |  |  |  | 37.66 | %
Disclosure of Results of Operations on Discontinued ePLDT Subsidiaries, Net of Intercompany Transactions | The results of the operations of the discontinued ePLDT subsidiaries, net of intercompany transactions, for the years ended December 31, 2023 and 2022 are as follows:
|  | 2023 |  |  | 2022 |  |
|  | (in million pesos)
Revenues |  |  | 107 |  |  |  | 883 |  |
Expenses: |  |  |  |  |  |  |
Selling, general and administrative expenses |  |  | 168 |  |  |  | 891 |  |
Depreciation and amortization |  |  | 21 |  |  |  | 83 |  |
Cost of services |  |  | 3 |  |  |  | 345 |  |
|  |  | 192 |  |  |  | 1,319 |  |
Net operating loss |  |  | (85 | ) |  |  | (436 | ) |
Other income (expenses): |  |  |  |  |  |  |
Foreign exchange gains – net |  |  | 4 |  |  |  | 2 |  |
Interest income |  |  | 1 |  |  |  | — |  |
Financing costs |  |  | (2 | ) |  |  | (7 | ) |
Others |  |  | 41 |  |  |  | (82 | ) |
|  |  | 44 |  |  |  | (87 | ) |
Loss before tax from discontinued operations |  |  | (41 | ) |  |  | (523 | ) |
Provision for income tax |  |  | — |  |  |  | 77 |  |
Loss after tax from discontinued operations |  |  | (41 | ) |  |  | (600 | ) |
Loss per share (Note 8): |  |  |  |  |  |  |
Basic/Diluted – Loss from discontinued operations |  |  | (0.19 | ) |  |  | (2.77 | ) |
Below are the assets and liabilities of the discontinued ePLDT subsidiaries, net of intercompany transactions, which were included in our consolidated statements of financial position as at December 31, 2023.
|  | 2023
|  | (in million pesos)
Assets: |  |  |  |
Cash and cash equivalents |  |  | 109 |  |
Short-term investments |  |  | 9 |  |
Other assets |  |  | 236 |  |
|  |  | 354 |  |
Liabilities: |  |  |  |
Accrued expenses and other current liabilities |  |  | 224 |  |
Income tax payable |  |  | 3 |  |
Accounts payable |  |  | 2 |  |
Other liabilities |  |  | 10 |  |
|  |  | 239 |  |
Net assets directly associated with disposal group |  |  | 115 |  |
The net cash flows generated by (used in) the discontinued ePLDT subsidiaries, net of intercompany transactions, for the years ended December 31, 2023 and 2022 are as follows:
|  | 2023 |  |  | 2022 |
|  | (in million pesos) |
Operating activities |  |  | (120 | ) |  |  | (20 | )
Investing activities |  |  | 31 |  |  |  | 4 |
Financing activities |  |  | (50 | ) |  |  | (80 | )
Net effect of foreign exchange rate changes on cash and cash equivalents |  |  | 8 |  |  |  | — |
Net cash outflows |  |  | (131 | ) |  |  | (96 | )
New Standards, Interpretations and Amendments

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