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Trade and Other Receivables (Tables)
 12 Months Ended
Dec. 31, 2024
Trade and other receivables [abstract]  
Summary of Trade and Other Receivables

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

 

 

 

2024

 

 

2023

 

 

 

(in million pesos)

 

Corporate subscribers (Note 27)

 

 

20,936

 

 

 

15,934

 

Retail subscribers (Note 27)

 

 

17,516

 

 

 

19,894

 

Foreign administrations (Note 27)

 

 

1,254

 

 

 

1,250

 

Domestic carriers (Note 27)

 

 

256

 

 

 

188

 

Dealers, agents and others (Note 27)

 

 

8,846

 

 

 

6,035

 

 

 

48,808

 

 

 

43,301

 

Less: Allowance for expected credit losses

 

 

17,196

 

 

 

17,215

 

 

 

 

31,612

 

 

 

26,086

 

The gross carrying amount of financial assets not subject to impairment also represents our maximum exposure to credit risk as at December 31, 2024 and 2023 are as follows:

 

 

 

2024

 

 

2023

 

 

 

(in million pesos)

 

Financial assets at fair value through profit or loss

 

 

1,101

 

 

 

578

 

Derivative financial assets – net of current portion

 

 

385

 

 

 

96

 

Current portion of derivative financial assets

 

 

30

 

 

 

—

 

Short-term investments

 

 

—

 

 

 

269

 

Total

 

 

1,516

 

 

 

943

 
Summary of Changes in the Allowance for Expected Credit Losses

The following table explains the changes in the allowance for expected credit losses as at December 31, 2024 and 2023:

 

 

Retail Subscribers

 

 

Corporate Subscribers

 

 

Foreign
Administrations

 

 

Domestic Carriers

 

 

Dealers, Agents
and Others

 

 

Total

 

 

 

 

Stage 2

 

Stage 3

 

 

Stage 2

 

Stage 3

 

 

Stage 2

 

Stage 3

 

 

Stage 2

 

Stage 3

 

 

Stage 2

 

Stage 3

 

 

Stage 2

 

Stage 3

 

 

 

 

Lifetime ECL

 

 

Lifetime ECL

 

 

Lifetime ECL

 

 

Lifetime ECL

 

 

Lifetime ECL

 

 

Lifetime ECL

 

Total

 

 

(in million pesos)

 

December 31, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balances at beginning of the year

 

1,448

 

 

8,250

 

 

 

2,126

 

 

3,820

 

 

 

8

 

 

116

 

 

 

—

 

 

1

 

 

 

608

 

 

838

 

 

 

4,190

 

 

13,025

 

 

17,215

 

Provisions

 

(484

)

 

3,537

 

 

 

322

 

 

472

 

 

 

6

 

 

—

 

 

 

—

 

 

—

 

 

 

13

 

 

9

 

 

 

(143

)

 

4,018

 

 

3,875

 

Translation adjustments

 

—

 

 

—

 

 

 

21

 

 

2

 

 

 

—

 

 

—

 

 

 

—

 

 

—

 

 

 

—

 

 

—

 

 

 

21

 

 

2

 

 

23

 

Write-offs

 

—

 

 

(2,975

)

 

 

—

 

 

(916

)

 

 

—

 

 

(1

)

 

 

—

 

 

—

 

 

 

—

 

 

—

 

 

 

—

 

 

(3,892

)

 

(3,892

)

Reclassifications and reversals

 

(388

)

 

436

 

 

 

(69

)

 

135

 

 

 

—

 

 

(52

)

 

 

—

 

 

(1

)

 

 

(15

)

 

(113

)

 

 

(472

)

 

405

 

 

(67

)

Others

 

—

 

 

42

 

 

 

—

 

 

—

 

 

 

—

 

 

—

 

 

 

—

 

 

—

 

 

 

—

 

 

—

 

 

 

-

 

 

42

 

 

42

 

Balances at end of the year

 

576

 

 

9,290

 

 

 

2,400

 

 

3,513

 

 

 

14

 

 

63

 

 

 

—

 

 

—

 

 

 

606

 

 

734

 

 

 

3,596

 

 

13,600

 

 

17,196

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2023

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balances at beginning of the year

 

1,866

 

 

5,023

 

 

 

1,717

 

 

3,382

 

 

 

1

 

 

133

 

 

 

—

 

 

1

 

 

 

652

 

 

886

 

 

 

4,236

 

 

9,425

 

 

13,661

 

Provisions from continuing operations

 

(394

)

 

3,716

 

 

 

335

 

 

451

 

 

 

—

 

 

(4

)

 

 

—

 

 

—

 

 

 

10

 

 

5

 

 

 

(49

)

 

4,168

 

 

4,119

 

Provisions from discontinued operations

 

—

 

 

—

 

 

 

4

 

 

—

 

 

 

—

 

 

—

 

 

 

—

 

 

—

 

 

 

—

 

 

—

 

 

 

4

 

 

—

 

 

4

 

Translation adjustments

 

—

 

 

—

 

 

 

(3

)

 

(1

)

 

 

—

 

 

—

 

 

 

—

 

 

—

 

 

 

—

 

 

—

 

 

 

(3

)

 

(1

)

 

(4

)

Write-offs

 

—

 

 

(506

)

 

 

—

 

 

—

 

 

 

—

 

 

—

 

 

 

—

 

 

—

 

 

 

—

 

 

—

 

 

 

—

 

 

(506

)

 

(506

)

Reclassifications and reversals

 

(24

)

 

17

 

 

 

73

 

 

(12

)

 

 

7

 

 

(13

)

 

 

—

 

 

—

 

 

 

(54

)

 

(53

)

 

 

2

 

 

(61

)

 

(59

)

Balances at end of the year

 

1,448

 

 

8,250

 

 

 

2,126

 

 

3,820

 

 

 

8

 

 

116

 

 

 

—

 

 

1

 

 

 

608

 

 

838

 

 

 

4,190

 

 

13,025

 

 

17,215