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Property and Equipment (Tables)
 12 Months Ended
Dec. 31, 2024
Disclosure of detailed information about property, plant and equipment [abstract]  
Summary of Changes in Property and Equipment Account

Changes in property and equipment account for the years ended December 31, 2024 and 2023 are as follows:

 

 

 

Cable
and
wire
facilities

 

 

Central
equipment

 

 

Network
facilities

 

 

Building and lease improvement

 

 

Vehicles,
furniture
and other
network
equipment

 

 

Information Origination Termination

 

 

Land and land
improvements

 

 

IT
systems
and
platforms

 

 

Security
platforms

 

 

Property
under
construction

 

 

Total

 

 

 

(in million pesos)

 

December 31, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net book value at beginning of the year

 

 

81,227

 

 

 

384

 

 

 

101,941

 

 

 

7,979

 

 

 

3,654

 

 

 

—

 

 

 

4,122

 

 

 

18,794

 

 

 

1,162

 

 

 

67,840

 

 

 

287,103

 

Additions (Note 4)

 

 

86

 

 

 

—

 

 

 

70

 

 

 

31

 

 

 

397

 

 

 

—

 

 

 

—

 

 

 

598

 

 

 

—

 

 

 

69,730

 

 

 

70,912

 

Disposals/retirements

 

 

—

 

 

 

—

 

 

 

(19

)

 

 

(1

)

 

 

(234

)

 

 

—

 

 

 

—

 

 

 

(1

)

 

 

(129

)

 

 

—

 

 

 

(384

)

Reclassification

 

 

31,435

 

 

 

—

 

 

 

33,692

 

 

 

542

 

 

 

(809

)

 

 

—

 

 

 

456

 

 

 

5,561

 

 

 

202

 

 

 

(69,167

)

 

 

1,912

 

Translation differences charged directly to cumulative translation adjustments

 

 

1

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

1

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

2

 

Adjustments

 

 

—

 

 

 

(25

)

 

 

—

 

 

 

—

 

 

 

25

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(185

)

 

 

(185

)

Impairment losses recognized during the year

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(67

)

 

 

—

 

 

 

(67

)

Depreciation and amortization (Note 3)

 

 

(11,484

)

 

 

(102

)

 

 

(19,178

)

 

 

(1,247

)

 

 

(1,063

)

 

 

—

 

 

 

(104

)

 

 

(7,742

)

 

 

(304

)

 

 

—

 

 

 

(41,224

)

Net book value at end of the year

 

 

101,265

 

 

 

257

 

 

 

116,506

 

 

 

7,304

 

 

 

1,971

 

 

 

—

 

 

 

4,474

 

 

 

17,210

 

 

 

864

 

 

 

68,218

 

 

 

318,069

 

As at December 31, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost

 

 

316,803

 

 

 

532

 

 

 

362,387

 

 

 

27,884

 

 

 

36,467

 

 

 

—

 

 

 

4,960

 

 

 

56,418

 

 

 

1,930

 

 

 

68,218

 

 

 

875,599

 

Accumulated depreciation, impairment and amortization

 

 

(215,538

)

 

 

(275

)

 

 

(245,881

)

 

 

(20,580

)

 

 

(34,496

)

 

 

—

 

 

 

(486

)

 

 

(39,208

)

 

 

(1,066

)

 

 

—

 

 

 

(557,530

)

Net book value

 

 

101,265

 

 

 

257

 

 

 

116,506

 

 

 

7,304

 

 

 

1,971

 

 

 

—

 

 

 

4,474

 

 

 

17,210

 

 

 

864

 

 

 

68,218

 

 

 

318,069

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2023

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net book value at beginning of the year

 

 

70,957

 

 

 

3,606

 

 

 

101,963

 

 

 

6,646

 

 

 

4,157

 

 

 

34,786

 

 

 

4,272

 

 

 

10,798

 

 

 

133

 

 

 

55,427

 

 

 

292,745

 

Additions (Note 4)

 

 

5,221

 

 

 

19

 

 

 

4,913

 

 

 

108

 

 

 

529

 

 

 

7,945

 

 

 

212

 

 

 

952

 

 

 

11

 

 

 

65,173

 

 

 

85,083

 

Disposals/retirements

 

 

(1

)

 

 

—

 

 

 

(17

)

 

 

(8

)

 

 

(119

)

 

 

—

 

 

 

(320

)

 

 

(6

)

 

 

—

 

 

 

—

 

 

 

(471

)

Reclassification

 

 

—

 

 

 

—

 

 

 

1,311

 

 

 

—

 

 

 

—

 

 

 

(24,470

)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(15,269

)

 

 

(38,428

)

Transfers and others

 

 

14,484

 

 

 

—

 

 

 

10,245

 

 

 

2,291

 

 

 

321

 

 

 

204

 

 

 

68

 

 

 

8,364

 

 

 

1,210

 

 

 

(37,187

)

 

 

—

 

Translation differences charged directly to cumulative translation adjustments

 

 

1

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

1

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

2

 

Adjustments

 

 

—

 

 

 

(3,055

)

 

 

—

 

 

 

13

 

 

 

1

 

 

 

(83

)

 

 

(45

)

 

 

3,106

 

 

 

84

 

 

 

(304

)

 

 

(283

)

Depreciation and amortization from
   continuing operations (Notes 2 and 3)

 

 

(9,435

)

 

 

(186

)

 

 

(16,474

)

 

 

(1,071

)

 

 

(1,234

)

 

 

(18,382

)

(a)

 

(65

)

 

 

(4,420

)

 

 

(276

)

 

 

—

 

 

 

(51,543

)

Depreciation and amortization from
   discontinued operations (Notes 2 and 3)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(2

)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(2

)

Net book value at end of the year

 

 

81,227

 

 

 

384

 

 

 

101,941

 

 

 

7,979

 

 

 

3,654

 

 

 

—

 

 

 

4,122

 

 

 

18,794

 

 

 

1,162

 

 

 

67,840

 

 

 

287,103

 

As at December 31, 2023

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost

 

 

280,237

 

 

 

683

 

 

 

344,218

 

 

 

28,881

 

 

 

40,387

 

 

 

—

 

 

 

4,504

 

 

 

50,344

 

 

 

1,914

 

 

 

67,840

 

 

 

819,008

 

Accumulated depreciation, impairment and amortization

 

 

(199,010

)

 

 

(299

)

 

 

(242,277

)

 

 

(20,902

)

 

 

(36,733

)

 

 

—

 

 

 

(382

)

 

 

(31,550

)

 

 

(752

)

 

 

—

 

 

 

(531,905

)

Net book value

 

 

81,227

 

 

 

384

 

 

 

101,941

 

 

 

7,979

 

 

 

3,654

 

 

 

—

 

 

 

4,122

 

 

 

18,794

 

 

 

1,162

 

 

 

67,840

 

 

 

287,103

 

(a) This includes amortization of cost to fulfill amounting to Php11,789 million.
Summary of Estimated Useful Lives of Property and Equipment

As at December 31, 2024, the estimated useful lives of our property and equipment are as follows:

 

Cable and wire facilities

 

5 – 15 years

Central equipment

 

3 – 15 years

Network facilities

 

3 – 20 years

Buildings

 

25 – 50 years

Vehicles, furniture and other network equipment

 

3 – 15 years

Land improvements

 

10 years

IT systems and platforms

 

3 – 5 years

Security platforms(1)

 

3 – 5 years

Leasehold improvements

 

3 – 10 years or the term of the lease, whichever is shorter

(1) As at December 31, 2023, the estimated useful life ranges from 3-5 years.
Summary of Completed Sales

The following summarizes the completed sale of Smart and DMPI telecom towers as at December 31, 2024:

 

Closing Date

 

Number of Tower Assets Sold

 

 

Cash Consideration

 

 

Gain on Sale and Leaseback

 

 

Net Book Value
of Tower Assets
(excluding taxes)

 

 

 

 

 

 

(in million pesos)

 

 

(in million pesos)

 

 

 

 

2022

 

 

4,665

 

 

 

60,492

 

 

 

25,234

 

 

 

22,874

 

2023

 

 

1,705

 

 

 

22,465

 

 

 

7,467

 

 

 

13,377

 

2024

 

 

356

 

 

 

4,362

 

 

 

1,471

 

 

 

1,739

 

 

 

 

6,726

 

 

 

87,319

 

 

 

34,172

 

(1)

 

37,990

 

(1) Gross of related transaction costs.