XML 33 R22.htm IDEA: XBRL DOCUMENT v3.24.1
Trade and Other Receivables
 12 Months Ended
Dec. 31, 2023
Trade and other receivables [abstract]  
Trade and Other Receivables Trade and Other Receivables

As at December 31, 2023 and 2022, this account consists of receivables from:

 

 

 

2023

 

 

2022

 

 

 

(in million pesos)

 

Retail subscribers (Note 27)

 

 

19,894

 

 

 

17,216

 

Corporate subscribers (Note 27)

 

 

15,934

 

 

 

15,151

 

Foreign administrations (Note 27)

 

 

1,250

 

 

 

1,058

 

Domestic carriers (Note 27)

 

 

188

 

 

 

296

 

Dealers, agents and others (Note 27)

 

 

6,035

 

 

 

6,195

 

 

 

43,301

 

 

 

39,916

 

Less: Allowance for expected credit losses

 

 

17,215

 

 

 

13,661

 

 

 

 

26,086

 

 

 

26,255

 

Trade and other receivables are noninterest-bearing and generally have settlement terms of 30 to 180 days.

Receivables from foreign administrations and domestic carriers represent receivables based on interconnection agreements with other telecommunications carriers. The aforementioned amounts of receivables are shown net of related payables to the same telecommunications carriers where a legal right of offset exists and settlement is facilitated on a net basis.

Receivables from dealers, agents and others consist mainly of receivables from credit card companies, dealers and distributors having collection arrangements with the PLDT Group, dividend receivables and advances to affiliates.

For terms and conditions relating to related party receivables, see Note 24 – Related Party Transactions.

See Note 27 – Financial Assets and Liabilities on credit risk of trade receivables to understand how we manage and measure credit quality of trade receivables that are neither past due nor impaired.

The following table explains the changes in the allowance for expected credit losses as at December 31, 2023 and 2022:

 

 

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, 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 and other adjustments from
    continuing operations (Notes 3 and 5)

 

(394

)

 

3,716

 

 

 

335

 

 

451

 

 

 

—

 

 

(4

)

 

 

—

 

 

—

 

 

 

10

 

 

5

 

 

 

(49

)

 

4,168

 

 

4,119

 

Provisions and other adjustments from
    discontinued operations (Notes 2 and 3)

 

—

 

 

—

 

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2022

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balances at beginning of the year

 

1,573

 

 

6,466

 

 

 

1,378

 

 

3,330

 

 

 

—

 

 

121

 

 

 

—

 

 

14

 

 

 

87

 

 

866

 

 

 

3,038

 

 

10,797

 

 

13,835

 

Provisions and other adjustments from
    continuing operations (Notes 2, 3 and 5)

 

782

 

 

3,420

 

 

 

397

 

 

489

 

 

 

1

 

 

33

 

 

 

—

 

 

(13

)

 

 

3

 

 

14

 

 

 

1,183

 

 

3,943

 

 

5,126

 

Provisions and other adjustments from
    discontinued operations (Notes 2, 3 and 5)

 

—

 

 

—

 

 

 

30

 

 

—

 

 

 

—

 

 

—

 

 

 

—

 

 

—

 

 

 

—

 

 

—

 

 

 

30

 

 

—

 

 

30

 

Reclassifications and reversals

 

(489

)

 

578

 

 

 

(129

)

 

(27

)

 

 

—

 

 

—

 

 

 

—

 

 

—

 

 

 

562

 

 

6

 

 

 

(56

)

 

557

 

 

501

 

Translation adjustments

 

—

 

 

—

 

 

 

41

 

 

24

 

 

 

—

 

 

—

 

 

 

—

 

 

—

 

 

 

—

 

 

—

 

 

 

41

 

 

24

 

 

65

 

Write-offs

 

—

 

 

(5,441

)

 

 

—

 

 

(434

)

 

 

—

 

 

(21

)

 

 

—

 

 

—

 

 

 

—

 

 

—

 

 

 

—

 

 

(5,896

)

 

(5,896

)

Balances at end of the year

 

1,866

 

 

5,023

 

 

 

1,717

 

 

3,382

 

 

 

1

 

 

133

 

 

 

—

 

 

1

 

 

 

652

 

 

886

 

 

 

4,236

 

 

9,425

 

 

13,661

 

 

The significant changes in the balances of trade and other receivables and contract assets are disclosed in Note 5 – Income and Expenses, while the information about the credit exposures are disclosed in Note 27 – Financial Assets and Liabilities.