Leases (Tables)

12 Months Ended

Dec. 31, 2024

Presentation of leases for lessee [abstract]

Schedule of Estimated Useful Life of Right of Use Assets

Our consolidated estimated useful lives of ROU assets as at December 31, 2024 are as follows:


Sites		1 – 30 years
International leased circuits(1)		1 – 19 years
Poles		1 – 12 years
Domestic leased circuits(2)		2 – 10 years
Office buildings		1 – 25 years
Co-located sites(3)		2 – 11 years

(1)

As at December 31, 2023, the estimated useful life ranges from 2-20 years.

(2)

As at December 31, 2023, the estimated useful life ranges from 1-10 years.

(3)

As at December 31, 2023, the estimated useful life ranges from 3-11 years.

Schedule of Changes in Right of Use Assets

Our consolidated roll forward analysis of ROU assets as at December 31, 2024 and 2023 are as follows:


	Sites			International Leased Circuits			Poles			Domestic Leased Circuits			Office Buildings			Co-located Sites			Total
	(in million pesos)
December 31, 2024
Costs:
Balances at beginning of the year		38,461			4,305			3,364			2,001			1,144			53			49,328
Additions (Note 28)		8,683			1,546			4,273			763			334			8			15,607
Asset retirement obligation		571			—			—			—			5			—			576
Modifications		(1,180	)		266			173			135			27			—			(579	)
Terminations		(2,350	)		(1,062	)		(2,474	)		(262	)		(209	)		—			(6,357	)
Reclassification to ROU assets classified as held-for-sale		(138	)		—			—			—			—			—			(138	)
Balances at end of the year		44,047			5,055			5,336			2,637			1,301			61			58,437

Accumulated depreciation and amortization:
Balances at beginning of the year		(7,599	)		(3,298	)		(3,156	)		(1,632	)		(887	)		(39	)		(16,611	)
Modifications		108			(12	)		(3	)		(75	)		(20	)		—			(2	)
Terminations		361			1,028			2,474			262			192			—			4,317
Depreciation (Note 3)		(4,763	)		(828	)		(1,054	)		(365	)		(295	)		(10	)		(7,315	)
Reclassification to ROU assets classified as held-for-sale		285			—			—			—			—			—			285
Balances at end of the year		(11,608	)		(3,110	)		(1,739	)		(1,810	)		(1,010	)		(49	)		(19,326	)
Net book value as at December 31, 2024		32,439			1,945			3,597			827			291			12			39,111

December 31, 2023
Costs:
Balances at beginning of the year		29,535			4,259			4,179			2,436			1,420			15			41,844
Additions (Note 28)		14,942			341			66			99			255			56			15,759
Asset retirement obligation		93			—			—			—			(26	)		—			67
Modifications		(35	)		(46	)		(851	)		(326	)		(149	)		(18	)		(1,425	)
Terminations		(3,566	)		(249	)		(30	)		(208	)		(356	)		—			(4,409	)
Reclassification to ROU assets classified as held-for-sale		(2,508	)		—			—			—			—			—			(2,508	)
Balances at end of the year		38,461			4,305			3,364			2,001			1,144			53			49,328

Accumulated depreciation and amortization:
Balances at beginning of the year		(5,415	)		(2,696	)		(2,504	)		(1,370	)		(987	)		(9	)		(12,981	)
Modifications		23			—			278			147			236			6			690
Charge from asset retirement obligation		16			—			—			—			17			—			33
Terminations		1,163			220			10			208			198			—			1,799
Depreciation from continuing operations (Notes 2 and 3)		(4,151	)		(822	)		(940	)		(617	)		(332	)		(36	)		(6,898	)
Depreciation from discontinued operations (Notes 2 and 3)		—			—			—			—			(19	)		—			(19	)
Reclassification to ROU assets classified as held-for-sale		765			—			—			—			—			—			765
Balances at end of the year		(7,599	)		(3,298	)		(3,156	)		(1,632	)		(887	)		(39	)		(16,611	)
Net book value as at December 31, 2023		30,862			1,007			208			369			257			14			32,717

Summary of Amounts Recognized in Consolidated Income Statements

The following amounts are recognized in our consolidated income statements for the years ended December 31, 2024, 2023 and 2022:


	2024		2023			2022
	(in million pesos)
Depreciation expense of ROU assets from continuing operations		7,315		6,898			5,661
Depreciation expense of ROU assets from discontinued operations		—		19			55
Interest expense on lease liabilities from continuing operations		3,935		3,266			2,057
Interest expense on lease liabilities discontinued operations		—		2			7
Variable lease payments (included in general and administrative expenses) from continuing operations		829		656			589
Variable lease payments (included in general and administrative expenses) from discontinued operations		—		(2	)		—
Expenses relating to short-term leases (included in general and administrative expenses)		569		714			1,440
Expenses relating to leases of low-value assets (included in general and administrative expenses)		—		2			2
Total amount recognized in consolidated income statements		12,648		11,555			9,811

Schedule of Changes in Lease Liabilities

Our consolidated roll forward analysis of lease liabilities as at December 31, 2024 and 2023 are as follows:


	2024			2023
	(in million pesos)
Balances at beginning of the year		47,546			42,435
Additions (Note 28)		15,607			15,759
Accretion on lease liabilities from continuing operations (Note 5)		3,935			3,266
Accretion on lease liabilities from discontinued operations		—			2
Reclassification to lease liabilities classified as held-for-sale		(87	)		(1,503	)
Foreign exchange gains – net		100			1
Lease modifications		(121	)		(933	)
Termination		(863	)		(774	)
Settlement of obligations		(12,079	)		(10,707	)
Balances at end of the year (Notes 3 and 28)		54,038			47,546
Less current portion of lease liabilities (Note 27)		7,335			5,921
Noncurrent portion of lease liabilities (Note 27)		46,703			41,625