Investment In Associates And Joint Ventures [Line Items]

Disclosure Of Changes In Accumulated Equity Share In Net Earnings Of Associates And Joint Ventures Explanatory

Changes in the accumulated equity share in net earnings (losses) of associates and joint ventures as at December 31, 2022 and 2021 are as follows:


	2022				2021
				(in million pesos)
Balances at beginning of the year		(5,867	)			(5,384	)
Share in the other comprehensive income (losses) of associates and joint ventures accounted for using the equity method		(6	)			23
Disposals		(37	)			—
Equity share in net losses of associates and joint ventures:		(3,304	)			(1,101	)
VTI, Bow Arken and Brightshare		74				971
TCI		1				(1	)
DCI		—				33
VFC		(1	)			—
Appcard		(2	)			8
PFC		(2	)			—
Multisys		(95	)			55
PG1		(124	)			—
MediaQuest PDRs		(129	)			70
VIH		(3,026	)			(2,237	)
Translation and other adjustments		545				595
Balances at end of the year		(8,669	)			(5,867	)

Summary of Additional Capital

Smart infused additional capital for the following years:


Date	Number of Shares Acquired	Subscription Price		Subscription Price
		(in million pesos)
March 29, 2019	70 Preferred Shares		1.00		70
March 11, 2020	60 Preferred Shares		1.00		60
March 30, 2021	60 Preferred Shares		1.00		60
March 29, 2022	50 Preferred Shares		1.00		50

Summary of Identifiable Assets and Liabilities at Date of Acquisition

The fair values of the identifiable assets and liabilities of Multisys at the date of acquisition are as follows:


	Fair Values Recognized on Acquisition
	(in million pesos)
Assets:
Cash and cash equivalents		55
Trade and other receivables – net		261
Work in progress		77
Other current assets		247
Intangible assets – net		—
Technologies		449
Customer contracts and relationships		220
Property and equipment – net		100
Right-of-use assets – net		57
Deferred tax assets – net		217
Total assets		1,684

Liabilities:
Trade and other payables		242
Lease liability		46
Deferred tax liability		96
Retirement benefit obligation		7
Total liabilities		391
		1,293
Goodwill from the acquisition (Note 15)		1,565
Total identifiable assets acquired		2,858
Non-controlling interest		633
Purchase consideration transferred		2,225

Cash paid		248
Fair value of previous interest		1,977
		2,225

Summary of Financial Information of Individually Immaterial Joint Investments in Joint Ventures

The following table presents the summarized financial information of our individually immaterial joint investments in joint ventures for the years ended December 31, 2022, 2021 and 2020:


	2022			2021		2020
			(in million pesos)
Income Statements:
Revenues		—			754		166
Net income		—			13		320
Other comprehensive income		—			—		—
Total comprehensive income		—			13		320

Investment In Associates And Joint Ventures [Line Items]

Summarized Financial Information of VTI Bow Arken and Brightshare

The table below presents the summarized financial information of VTI, Bow Arken and Brightshare as at December 31, 2022 and 2021, and for the years ended December 31, 2022, 2021 and 2020:


	2022			2021
			(in million pesos)
Statements of Financial Position:
Noncurrent assets		77,543			76,925
Current assets		4,617			4,836
Noncurrent liabilities		9,264			9,442
Current liabilities		2,260			2,155
Equity		70,636			70,164
Carrying amount of assets in VTI, Bow Arken and Brightshare		33,584			33,596
Additional Information:
Cash and cash equivalents		2,733			3,183
Current financial liabilities*		142			60
Noncurrent financial liabilities*		—			—

* Excluding trade, other payables and provisions.


	2022			2021		2020
			(in million pesos)
Income Statements:
Revenues		4,033			3,772		3,413
Depreciation and amortization		1,569			1,490		1,445
Interest income		45			16		25
Provision for income tax		178			174		196
Net income		148			157		175
Other comprehensive income		—			—		—
Total comprehensive income		148			157		175
PLDT's share		74			79		87
CREATE adjustment		—			892		—
Equity share in net income of VTI, Bow Arken and Brightshare		74			971		87

Summarized Financial Information of Associates

The table below presents the summarized financial information of Satventures and subsidiaries as at December 31, 2022 and 2021, and for the years ended December 31, 2022, 2021 and 2020:


	2022			2021
			(in million pesos)
Statements of Financial Position:
Noncurrent assets		21,910			22,402
Current assets		8,612			7,942
Noncurrent liabilities		2,418			2,304
Current liabilities		11,706			11,440
Equity(1)		16,398			16,600
Carrying amount of interest in Satventures		9,854			9,984
Additional Information:
Cash and cash equivalents		688			749
Current financial liabilities(2)		986			386
Noncurrent financial liabilities(2)		1,148			1,319

(1)

Including Php1 billion deposit for preferred stock subscriptions by Mediaquest in 2021.

(2)

Excluding trade, other payables and provisions.


	2022				2021		2020
				(in million pesos)
Income Statements:
Revenues		11,189				11,467		9,127
Depreciation and amortization		1,424				1,268		1,049
Interest income (loss)		(3	)			2		16
Interest expense		212				219		241
Provision for income tax		16				200		153
Net income (loss)		(203	)			110		260
Other comprehensive income		—				—		—
Total comprehensive income (loss)		(203	)			110		260
Equity share in net income (loss) of Satventures		(130	)			70		166

Investment In Associates And Joint Ventures [Line Items]

Carrying Value of Investments

The carrying value of PCEV’s investment in VIH as at December 31, 2022 and 2021 are as follows.


	2022				2021
				(in million pesos)
VIH Equity(1)		9,714				6,398
PCEV's noncontrolling interests		36.63	%			38.45	%
Share in net assets of VIH		3,558				2,460
Goodwill arising from acquisition		4,401				4,620
Carrying amount of interest in VIH		7,959				7,080

(i)

VIH Equity is net of Php1,297 million and Php726 million Stock Option in 2022 and 2021, respectively.

Investment In Associates And Joint Ventures [Line Items]