XML 54 R43.htm IDEA: XBRL DOCUMENT v3.24.1
Leases (Tables)
 12 Months Ended
Dec. 31, 2023
Presentation of leases for lessee [abstract]  
Schedule of Estimated Useful Life of Right of Use Assets

Our consolidated estimated useful lives of ROU assets as at December 31, 2023 are as follows:

 

Sites

 

1 – 30 years

International leased circuits(1)

 

2 – 20 years

Poles(2)

 

1 – 12 years

Domestic leased circuits

 

1 – 10 years

Office buildings

 

1 – 25 years

Co-located sites(3)

 

3 – 11 years

 

(1)
As at December 31, 2022, the estimated useful life ranges from 1-11 years.
(2)
As at December 31, 2022, the estimated useful life ranges from 2-12 years.
(3)
As at December 31, 2022, the estimated useful life ranges from 3-7 years.
Schedule of Changes in Right of Use Assets

Our consolidated rollforward analysis of ROU assets as at December 31, 2023 and 2022 are as follows:

 

 

 

Sites

 

 

International
Leased
Circuits

 

 

Poles

 

 

Domestic
Leased
Circuits

 

 

Office
Buildings

 

 

Co-located
Sites

 

 

Sale and Leaseback Adjustment

 

 

Total

 

 

 

(in million pesos)

 

December 31, 2022

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Costs:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balances at beginning of the year

 

 

23,093

 

 

 

4,257

 

 

 

3,631

 

 

 

1,732

 

 

 

1,669

 

 

 

10

 

 

 

—

 

 

 

34,392

 

Additions (Note 28)

 

 

32,735

 

 

 

402

 

 

 

116

 

 

 

851

 

 

 

165

 

 

 

5

 

 

 

—

 

 

 

34,274

 

Business combination

 

 

90

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

90

 

Currency translation

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

1

 

 

 

—

 

 

 

—

 

 

 

1

 

Disposals

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(5

)

 

 

—

 

 

 

—

 

 

 

(5

)

Asset retirement obligation

 

 

(1,412

)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(95

)

 

 

—

 

 

 

—

 

 

 

(1,507

)

Modifications

 

 

(7

)

 

 

(106

)

 

 

432

 

 

 

(8

)

 

 

1

 

 

 

—

 

 

 

(12,776

)

 

 

(12,464

)

Terminations

 

 

(12,188

)

 

 

(294

)

 

 

—

 

 

 

(139

)

 

 

(316

)

 

 

—

 

 

 

—

 

 

 

(12,937

)

Balances at end of the year

 

 

42,311

 

 

 

4,259

 

 

 

4,179

 

 

 

2,436

 

 

 

1,420

 

 

 

15

 

 

 

(12,776

)

 

 

41,844

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated depreciation and amortization:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balances at beginning of the year

 

 

(8,666

)

 

 

(2,014

)

 

 

(1,629

)

 

 

(966

)

 

 

(1,030

)

 

 

(6

)

 

 

—

 

 

 

(14,311

)

Terminations

 

 

4,923

 

 

 

150

 

 

 

—

 

 

 

71

 

 

 

293

 

 

 

—

 

 

 

—

 

 

 

5,437

 

Charge from asset retirement obligation

 

 

1,545

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

103

 

 

 

—

 

 

 

—

 

 

 

1,648

 

Disposals

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

5

 

 

 

—

 

 

 

—

 

 

 

5

 

Currency translation

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(1

)

 

 

—

 

 

 

—

 

 

 

(1

)

Modifications

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(10

)

 

 

—

 

 

 

—

 

 

 

(10

)

Business combination

 

 

(33

)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(33

)

Depreciation from continuing operations (Notes 2 and 3)

 

 

(3,803

)

 

 

(832

)

 

 

(875

)

 

 

(475

)

 

 

(313

)

 

 

(3

)

 

 

640

 

 

 

(5,661

)

Depreciation from discontinued operations (Notes 2 and 3)

 

 

(21

)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(34

)

 

 

—

 

 

 

—

 

 

 

(55

)

Balances at end of the year

 

 

(6,055

)

 

 

(2,696

)

 

 

(2,504

)

 

 

(1,370

)

 

 

(987

)

 

 

(9

)

 

 

640

 

 

 

(12,981

)

Net book value as at December 31, 2022

 

 

36,256

 

 

 

1,563

 

 

 

1,675

 

 

 

1,066

 

 

 

433

 

 

 

6

 

 

 

(12,136

)

 

 

28,863

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2023

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Costs:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balances at beginning of the year

 

 

42,311

 

 

 

4,259

 

 

 

4,179

 

 

 

2,436

 

 

 

1,420

 

 

 

15

 

 

 

(12,776

)

 

 

41,844

 

Additions (Note 28)

 

 

14,942

 

 

 

341

 

 

 

66

 

 

 

99

 

 

 

255

 

 

 

56

 

 

 

—

 

 

 

15,759

 

Asset retirement obligation

 

 

93

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(26

)

 

 

—

 

 

 

—

 

 

 

67

 

Modifications

 

 

(35

)

 

 

(46

)

 

 

(851

)

 

 

(326

)

 

 

(149

)

 

 

(18

)

 

 

—

 

 

 

(1,425

)

Terminations

 

 

(2,117

)

 

 

(249

)

 

 

(30

)

 

 

(208

)

 

 

(341

)

 

 

—

 

 

 

(1,449

)

 

 

(4,394

)

Reclassification to ROU assets classified as held-for-sale

 

 

(2,508

)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(2,508

)

Balances at end of the year

 

 

52,686

 

 

 

4,305

 

 

 

3,364

 

 

 

2,001

 

 

 

1,159

 

 

 

53

 

 

 

(14,225

)

 

 

49,343

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated depreciation and amortization:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balances at beginning of the year

 

 

(6,055

)

 

 

(2,696

)

 

 

(2,504

)

 

 

(1,370

)

 

 

(987

)

 

 

(9

)

 

 

640

 

 

 

(12,981

)

Modifications

 

 

23

 

 

 

—

 

 

 

278

 

 

 

147

 

 

 

236

 

 

 

6

 

 

 

—

 

 

 

690

 

Charge from asset retirement obligation

 

 

16

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

17

 

 

 

—

 

 

 

—

 

 

 

33

 

Terminations

 

 

1,292

 

 

 

220

 

 

 

10

 

 

 

208

 

 

 

183

 

 

 

—

 

 

 

(129

)

 

 

1,784

 

Depreciation from continuing operations (Notes 2 and 3)

 

 

(5,493

)

 

 

(822

)

 

 

(940

)

 

 

(617

)

 

 

(332

)

 

 

(36

)

 

 

1,342

 

 

 

(6,898

)

Depreciation from discontinued operations (Notes 2 and 3)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(19

)

 

 

—

 

 

 

—

 

 

 

(19

)

Reclassification to ROU assets classified as held-for-sale

 

 

765

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

765

 

Balances at end of the year

 

 

(9,452

)

 

 

(3,298

)

 

 

(3,156

)

 

 

(1,632

)

 

 

(902

)

 

 

(39

)

 

 

1,853

 

 

 

(16,626

)

Net book value as at December 31, 2023

 

 

43,234

 

 

 

1,007

 

 

 

208

 

 

 

369

 

 

 

257

 

 

 

14

 

 

 

(12,372

)

 

 

32,717

 
Summary of Amounts Recognized in Consolidated Income Statements

The following amounts are recognized in our consolidated income statements for the years ended December 31, 2023, 2022 and 2021:

 

 

 

2023

 

 

2022

 

 

2021

 

 

 

 

 

(in million pesos)

 

 

Depreciation expense of ROU assets from continuing operations (Note 3)

 

 

6,898

 

 

 

5,661

 

 

 

5,330

 

Depreciation expense of ROU assets from discontinued operations (Notes 2 and 3)

 

 

19

 

 

 

55

 

 

 

58

 

Interest expense on lease liabilities from continuing operations (Note 5)

 

 

3,266

 

 

 

2,057

 

 

 

1,158

 

Interest expense on lease liabilities from discontinued operations

 

 

2

 

 

 

7

 

 

 

12

 

Variable lease payments (included in general and administrative expenses)
   from continuing operations

 

 

656

 

 

 

587

 

 

 

780

 

Variable lease payments (included in general and administrative expenses)
   from discontinued operations

 

 

(2

)

 

 

2

 

 

 

(9

)

Expenses relating to short-term leases
   (included in general and administrative expenses) (Note 5)

 

 

714

 

 

 

1,440

 

 

 

1,459

 

Expenses relating to leases of low-value assets
   (included in general and administrative expenses) (Note 5)

 

 

2

 

 

 

2

 

 

 

1

 

Total amount recognized in consolidated income statements

 

 

11,555

 

 

 

9,811

 

 

 

8,789

 
Schedule of Changes in Lease Liabilities

Our consolidated rollforward analysis of lease liabilities as at December 31, 2023 and 2022 are as follows:

 

 

 

2023

 

 

2022

 

 

 

(in million pesos)

 

Balances at beginning of the year

 

 

42,435

 

 

 

21,686

 

Additions (Note 28)

 

 

15,759

 

 

 

34,277

 

Accretion on lease liabilities from continuing operations (Note 5)

 

 

3,266

 

 

 

2,057

 

Accretion on lease liabilities from discontinued operations

 

 

2

 

 

 

7

 

Business combination

 

 

—

 

 

 

46

 

Reclassification to lease liabilities classified as held-for-sale

 

 

(1,503

)

 

 

(1,668

)

Foreign exchange gains – net

 

 

1

 

 

 

215

 

Lease modifications

 

 

(933

)

 

 

317

 

Termination

 

 

(774

)

 

 

(6,171

)

Settlement of obligations

 

 

(10,707

)

 

 

(8,331

)

Balances at end of the year (Notes 3 and 28)

 

 

47,546

 

 

 

42,435

 

Less current portion of lease liabilities (Note 27)

 

 

5,921

 

 

 

10,477

 

Noncurrent portion of lease liabilities (Note 27)

 

 

41,625

 

 

 

31,958