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Summary of Material Accounting Policies (Tables)

12 Months Ended

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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