Land

Land
Improvements

Building

Total

(in million pesos)

December 31, 2024

Balances at beginning of the year

1,184

12

119

1,315

Net gains from fair value adjustments charged to profit or loss

17

—

6

23

Disposals during the year

(14

)

—

—

(14

)

Transfers from property and equipment - net

1,695

—

(19

)

1,676

Balances at end of the year

2,882

12

106

3,000

December 31, 2023

Balances at beginning of the year

858

2

155

1,015

Net gains (losses) from fair value adjustments charged to profit or loss

58

8

(36

)

30

Transfers from property and equipment

363

2

2

367

Disposals during the year

(95

)

—

(2

)

(97

)

Balances at end of the year

1,184

12

119

1,315