Deferred Credits and Other Noncurrent Liabilities

12 Months Ended

Dec. 31, 2024

Deferred Credits And Other Noncurrent Liabilities [Abstract]

Deferred Credits and Other Noncurrent Liabilities

21.

Deferred Credits and Other Noncurrent Liabilities

As at December 31, 2024 and 2023, this account consists of:


	2024		2023
	(in million pesos)
Contract liabilities and unearned revenues - non-current		5,625		8,206
Provision for asset retirement obligations		1,752		1,164
Accrual of capital expenditures under long-term financing(1)		44		198
Others		54		39
		7,475		9,607

(1) 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.

The following table summarizes the changes to provision for asset retirement obligations for the years ended December 31, 2024 and 2023:


	2024			2023
	(in million pesos)
Provision for asset retirement obligations at beginning of the year		1,164			1,514
Revaluation due to change in IBR		515			(175	)
Capitalized to ROU assets during the year		73			163
Accretion expenses		54			63
Reclassification to liabilities associated with assets classified as held-for-sale		—			(369	)
Settlement of obligations and others		(3	)		(2	)
Change in assumptions		(51	)		(30	)
Provision for asset retirement obligations at end of the year		1,752			1,164