Deferred Credits and Other Noncurrent Liabilities

12 Months Ended

Dec. 31, 2022

Deferred Credits And Other Noncurrent Liabilities [Abstract]

Deferred Credits and Other Noncurrent Liabilities

22.Deferred Credits and Other Noncurrent Liabilities

As at December 31, 2022 and 2021, this account consists of:

	2022			2021
			(in million pesos)
Contract liabilities and unearned revenues (Note 5)		7,615			3,558
Provision for asset retirement obligations		1,514			2,121
Accrual of capital expenditures under long-term financing		316			300
Others		56			105
		9,501			6,084

The following table summarizes the changes to provision for asset retirement obligations for the years ended December 31, 2022 and 2021:

	2022				2021
				(in million pesos)
Provision for asset retirement obligations at beginning of the year		2,121				2,000
Revaluation due to change in IBR		442				(102	)
Capitalized to ROU assets during the year		65				239
Accretion expenses		54				65
Settlement of obligations and others		(1	)			(19	)
Reclassification to liabilities associated with assets classified as held-for-sale		(232	)			—
Change in assumptions		(935	)			(62	)
Provision for asset retirement obligations at end of the year		1,514				2,121

Accrual of capital expenditures under long-term financing represents expenditures related to the expansion and upgrade of our network facilities which are not due to be settled within one year. Such accruals are settled through refinancing from long-term loans obtained from the banks. See Note 21 – Interest-bearing Financial Liabilities.