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Trade and Other Receivables
 12 Months Ended
Dec. 31, 2018
Trade And Other Receivables [Abstract]  
Trade and Other Receivables

16.

Trade and Other Receivables

As at December 31, 2018 and 2017, this account consists of receivables from:

 

 

 

2018

 

 

2017

 

 

 

 

 

 

(in million pesos)

 

Retail subscribers (Note 27)

 

 

19,444

 

 

 

17,961

 

Corporate subscribers (Note 27)

 

 

11,073

 

 

 

9,641

 

Foreign administrations (Note 27)

 

 

4,225

 

 

 

6,517

 

Domestic carriers (Note 27)

 

 

270

 

 

 

457

 

Dealers, agents and others (Note 27)

 

 

5,547

 

 

 

13,686

 

 

 

 

40,559

 

 

 

48,262

 

Less allowance for expected credit losses/doubtful accounts (Notes 5 and 27)

 

 

16,503

 

 

 

14,501

 

 

 

 

24,056

 

 

 

33,761

 

 

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 from affiliates.

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

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

See Note 24 – Related Party Transactions for the summary of transactions with related parties and Note 27 – Financial Assets and Liabilities – Credit Risk 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 from January 1 to December 31, 2018:

 

 

For the year ended December 31, 2018

 

 

 

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)

 

Balances as at beginning of the year, as restated

 

 

787

 

 

 

7,925

 

 

 

474

 

 

 

3,212

 

 

 

7

 

 

 

925

 

 

 

1

 

 

 

75

 

 

 

147

 

 

 

1,206

 

 

 

1,416

 

 

 

13,343

 

 

 

14,759

 

Reclassifications and reversals

 

 

86

 

 

 

6

 

 

 

(48

)

 

 

201

 

 

 

(46

)

 

 

2

 

 

 

—

 

 

 

(3

)

 

 

(5

)

 

 

(146

)

 

 

(13

)

 

 

60

 

 

 

47

 

Provisions

 

 

20

 

 

 

3,109

 

 

 

172

 

 

 

820

 

 

 

44

 

 

 

(13

)

 

 

2

 

 

 

2

 

 

 

9

 

 

 

27

 

 

 

247

 

 

 

3,945

 

 

 

4,192

 

Business combination/dissolution

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(57

)

 

 

—

 

 

 

(57

)

 

 

—

 

 

 

(57

)

Write-offs

 

 

—

 

 

 

(2,109

)

 

 

—

 

 

 

(328

)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(3

)

 

 

(4

)

 

 

(3

)

 

 

(2,441

)

 

 

(2,444

)

Translation adjustments

 

 

—

 

 

 

—

 

 

 

5

 

 

 

1

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

5

 

 

 

1

 

 

 

6

 

Balance at end of the year

 

 

893

 

 

 

8,931

 

 

 

603

 

 

 

3,906

 

 

 

5

 

 

 

914

 

 

 

3

 

 

 

74

 

 

 

91

 

 

 

1,083

 

 

 

1,595

 

 

 

14,908

 

 

 

16,503

 

Changes in the allowance for doubtful accounts for the year ended December 31, 2017 are as follows:

 

 

 

Total

 

 

Retail

Subscribers

 

 

Corporate

Subscribers

 

 

Foreign

Administrations

 

 

Domestic

Carriers

 

 

Dealers,

Agents and

Others

 

 

 

(in million pesos)

 

December 31, 2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at beginning of the year

 

 

18,788

 

 

 

12,588

 

 

 

3,827

 

 

 

628

 

 

 

134

 

 

 

1,611

 

Provisions (reversals) and other adjustments

 

 

(1,029

)

 

 

(1,166

)

 

 

15

 

 

 

310

 

 

 

(59

)

 

 

(129

)

Write-offs

 

 

(3,258

)

 

 

(2,644

)

 

 

(538

)

 

 

—

 

 

 

—

 

 

 

(76

)

Balance at end of the year

 

 

14,501

 

 

 

8,778

 

 

 

3,304

 

 

 

938

 

 

 

75

 

 

 

1,406

 

Individual impairment

 

 

10,160

 

 

 

5,747

 

 

 

3,177

 

 

 

104

 

 

 

51

 

 

 

1,081

 

Collective impairment

 

 

4,341

 

 

 

3,031

 

 

 

127

 

 

 

834

 

 

 

24

 

 

 

325

 

 

 

 

14,501

 

 

 

8,778

 

 

 

3,304

 

 

 

938

 

 

 

75

 

 

 

1,406

 

Gross amount of receivables individually

   impaired, before deducting any impairment

   allowance

 

 

10,160

 

 

 

5,747

 

 

 

3,177

 

 

 

104

 

 

 

51

 

 

 

1,081

 

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.