Financial Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2018

Disclosure Of Financial Assets And Liabilities [Abstract]

Summary of Consolidated Financial Assets and Financial Liabilities

The following table sets forth our consolidated financial assets and financial liabilities as at December 31, 2018 and 2017:  

		Financial instruments at amortized cost			Financial instruments at FVPL		Financial instruments at FVOCI		Total financial instruments
	(in million pesos)
Assets as at December 31, 2018
Noncurrent:
Financial assets at fair value through profit or loss			—			4,763		—		4,763
Debt instruments at amortized cost			150			—		—		150
Derivative financial assets – net of current portion			—			140		—		140
Financial assets at fair value through other    comprehensive income – net of current portion			—			—		2,749		2,749
Other financial assets – net of current portion			2,275			—		—		2,275
Current:
Cash and cash equivalents			51,654			—		—		51,654
Short-term investments			1,165			—		—		1,165
Trade and other receivables			24,056			—		—		24,056
Current portion of derivative financial assets			—			183		—		183
Current portion of financial assets at fair value    through other comprehensive income			—			—		1,604		1,604
Current portion of other financial assets			175			6,833		—		7,008
Total assets			79,475			11,919		4,353		95,747
Liabilities as at December 31, 2018
Noncurrent:
Interest-bearing financial liabilities –    net of current portion			155,835			—		—		155,835
Customers' deposits			2,194			—		—		2,194
Deferred credits and other noncurrent liabilities			3,088			—		—		3,088
Current:
Accounts payable			72,818			—		—		72,818
Accrued expenses and other current liabilities			68,920			7,862		—		76,782
Current portion of interest-bearing financial liabilities			20,441			—		—		20,441
Dividends payable			1,533			—		—		1,533
Current portion of derivative financial liabilities			—			80		—		80
Total liabilities			324,829			7,942		—		332,771
Net assets (liabilities)			(245,354	)		3,977		4,353		(237,024	)

	Loans and receivables		HTM investments		Financial instruments at FVPL			Derivatives used for hedging		Available- for-sale financial investments		Financial liabilities carried at amortized cost			Total financial assets and liabilities
	(in million pesos)
Assets as at December 31, 2017
Noncurrent:
Available-for-sale financial    investments		—		—		—			—		15,165		—			15,165
Investment in debt securities and other    long- term investments –    net of current portion		—		150		—			—		—		—			150
Derivative financial assets –    net of current portion		—		—		—			215		—		—			215
Advances and other noncurrent    assets – net of current portion		13,855		—		—			—		—		—			13,855
Current:
Cash and cash equivalents		32,905		—		—			—		—		—			32,905
Short-term investments		1,074		—		—			—		—		—			1,074
Trade and other receivables		33,761		—		—			—		—		—			33,761
Current portion of derivative    financial assets		—		—		—			171		—		—			171
Current portion of investment in debt    securities and other long-term    investments		100		—		—			—		—		—			100
Current portion of advances and other    noncurrent assets		6,824		—		—			—		—		—			6,824
Total assets		88,519		150		—			386		15,165		—			104,220
Liabilities as at December 31, 2017
Noncurrent:
Interest-bearing financial liabilities –    net of current portion		—		—		—			—		—		157,654			157,654
Derivative financial liabilities –    net of current portion		—		—		—			8		—		—			8
Customers’ deposits		—		—		—			—		—		2,443			2,443
Deferred credits and other noncurrent    liabilities		—		—		—			—		—		5,680			5,680
Current:
Accounts payable		—		—		—			—		—		58,490			58,490
Accrued expenses and other current    liabilities		—		—		—			—		—		70,648			70,648
Current portion of interest-bearing    financial liabilities		—		—		—			—		—		14,957			14,957
Dividends payable		—		—		—			—		—		1,575			1,575
Current portion of derivative financial    liabilities		—		—		90			51		—		—			141
Total liabilities		—		—		90			59		—		311,447			311,596
Net assets (liabilities)		88,519		150		(90	)		327		15,165		(311,447	)		(207,376	)

Summary of Consolidated Offsetting of Financial Assets and Liabilities

The following table sets forth our consolidated offsetting of financial assets and liabilities recognized as at December 31, 2018 and 2017:  

	Gross amounts of recognized financial assets and liabilities		Gross amounts of recognized financial assets and liabilities set-off in the statement of financial position		Net amount presented in the statement of financial position
	(in million pesos)
December 31, 2018
Current Financial Assets
Trade and other receivables
Foreign administrations		6,882		3,576		3,306
Domestic carriers		8,245		8,052		193
Total		15,127		11,628		3,499
Current Financial Liabilities
Accounts payable
Suppliers and contractors		69,144		45		69,099
Carriers and other customers		5,602		2,567		3,035
Total		74,746		2,612		72,134
December 31, 2017
Current Financial Assets
Trade and other receivables
Foreign administrations		8,536		2,957		5,579
Domestic carriers		4,332		3,950		382
Total		12,868		6,907		5,961
Current Financial Liabilities
Accounts payable
Suppliers and contractors		54,220		24		54,196
Carriers and other customers		7,426		4,943		2,483
Total		61,646		4,967		56,679

Reconciliation of Carrying Amounts of Financial Instruments from Their Previous Classification Measurement Category

As at January 1, 2018, we have reviewed and assessed all of its existing financial instruments.  The following table reconciles the carrying amounts of financial instruments from their previous classification and measurement category in accordance with IAS 39 to their new classification and measurement categories upon transition to IFRS 9 on January 1, 2018.  

		IAS 39							Remeasurement						IFRS 9
	Reference	Category	Amount			Reclassification			ECL			Others			Amount			Category
			(in million pesos)
Financial Assets
Cash and cash equivalents		Loans and receivables		32,905			—			—			—			32,905		Amortized Cost
Short-term investments		Loans and receivables		1,074			—			—			—			1,074		Amortized Cost
Trade and other receivables	3, 5	Loans and receivables		33,761			(4,091	)		(258	)		—			29,412		Amortized Cost
Current portion of investment in debt securities and    other long-term investments		Loans and receivables		100			—			—			—			100		Amortized Cost
Current portion of advances and other noncurrent    assets	3, 5	Loans and receivables		6,824			(6,785	)		—			—			39		Amortized Cost
Less: To Financial instruments at FVPL							(6,785	)
To Financial instruments at FVOCI							(4,091	)
Advances and other noncurrent assets – net of current    portion	3, 5	Loans and receivables		13,855			(11,461	)		(18	)		—			2,376		Amortized Cost
Less: To Financial instruments at FVOCI							(11,461	)
Investment in debt securities and other long-term    investments – net of current portion	2		N/A				150			—			—			150		Amortized Cost
Add: From HTM investments							150
		Loans and receivables		88,519			(22,187	)		(276	)		—			66,056		Amortized Cost
Investment in debt securities and other long-term    investments – net of current portion	2	Held-to- maturity		150			(150	)
Less: To Financial instruments at amortized cost							(150	)
		Held-to- maturity		150			(150	)
Current portion of derivative financial assets	1	Derivatives used for hedging		171			(171	)		—			—			—
Derivative financial assets – net of current portion	1	Derivatives used for hedging		215			(215	)		—			—			—
Current portion of derivative financial liabilities	1	Derivatives used for hedging		(51	)		51			—			—			—
Derivative financial liabilities – net of current portion	1	Derivatives used for hedging		(8	)		8			—			—			—
Less: To financial assets at FVPL							(327	)
		Derivatives used for hedging		327			(327	)
Available-for-sale financial investments	4	Available- for-sale financial investments		15,165			(15,165	)		—			—			—
Less: To financial assets at FVPL							(15,165	)
		Available- for-sale financial investments		15,165			(15,165	)		—			—			—
Trade and other receivables	3, 5		N/A				4,091			—			(8	)		4,083		FVOCI
Advances and other noncurrent assets –    net of current portion	3, 5		N/A				11,461			—			(128	)		11,333		FVOCI
Add: From Loans and receivables							15,552
							15,552			—			(136	)		15,416		FVOCI
Current portion of derivative financial assets	1		N/A				171			—			—			171		FVPL
Derivative financial assets – net of current portion	1		N/A				215			—			—			215		FVPL
Current portion of derivative financial liabilities	1		N/A				(51	)		—			—			(51	)	FVPL
Derivative financial liabilities –  net of current portion	1		N/A				(8	)		—			—			(8	)	FVPL
Current portion of advances and other noncurrent assets	3		N/A				6,785			—			—			6,785		FVPL
Available-for-sale financial investments	4		N/A				15,165			—			—			15,165		FVPL
Add: From Loans and receivables							6,785			—			—			—
From Available-for-sale financial investments							15,165			—			—			—
From Derivatives used for hedging							327			—			—			—
							22,277			—			—			22,277		FVPL

⁽¹⁾ As at January 1, 2018, our analysis highlighted that certain complex structured products with separated embedded derivatives, based on the assessment of the combined instrument, did not meet the SPPI criterion.  Therefore, we reclassified these loans along with the embedded derivatives – previously separated under IAS 39 – as financial assets at FVPL.

⁽²⁾ As at January 1, 2018, we do not have any debt instruments that did not meet the SPPI criterion within the held-to-maturity, or HTM, portfolio.  Therefore, we elected to classify these instruments as debt instruments measured at amortized cost.

⁽³⁾ As at January 1, 2018, we have reclassified receivables from MPIC from loans and receivables to financial assets at FVOCI as this met the SPPI criterion and the business model is assessed as hold to collect contractual cash flows and sell financial assets.  

⁽⁴⁾ As at January 1, 2018, we have classified our AFS asset-backed securities as financial assets measured at FVPL as the payments did not meet the SPPI criterion.

⁽⁵⁾ As at January 1, 2018, we have restated the beginning balance of allowance for doubtful accounts under IAS 39 incurred loss model and considered the new impairment model under IFRS 9 which requires to record lifetime losses on all financial assets which have experienced a significant increase in credit risk from initial recognition.  

The following table sets forth our consolidated carrying values and estimated fair values of our financial assets and liabilities recognized as at December 31, 2018 and 2017 other than those whose carrying amounts are reasonable approximations of fair values:  

	Carrying Value				Fair Value
	2018		2017		2018		2017
	(in million pesos)
Noncurrent Financial Assets
Debt instruments at amortized cost		150		—		148		—
Investment in debt securities and other long-term    investments – net of current portion		—		150		—		151
Other financial assets – net of current portion		2,275		—		2,020		—
Advances and other noncurrent assets		—		13,855		—		13,695
Total		2,425		14,005		2,168		13,846
Noncurrent Financial Liabilities
Interest-bearing financial liabilities:
Long-term debt – net of current portion		155,835		157,654		139,504		150,918
Customers' deposits		2,194		2,443		1,305		1,700
Deferred credits and other noncurrent liabilities		3,088		5,680		2,583		5,093
Total		161,117		165,777		143,392		157,711

Summary of Consolidated Financial Assets and Liabilities Carried at Fair Value

Below is the list of our consolidated financial assets and liabilities carried at fair value that are classified using a fair value hierarchy as required for our complete sets of consolidated financial statements as at December 31, 2018 and 2017.  This classification provides a reasonable basis to illustrate the nature and extent of risks associated with those financial statements.  

	2018								2017
	Level 1(1)		Level 2(2)		Level 3(3)		Total		Level 1(1)		Level 2(2)		Level 3(3)		Total
	(in million pesos)
Noncurrent Financial Assets
Listed equity securities
Financial assets at FVPL		3,625		154		984		4,763		—		—		—		—
Available-for-sale financial    investments		—		—		—		—		12,848		130		2,187		15,165
Derivative financial assets    – net of current portion		—		140		—		140		—		215		—		215
Financial assets at FVOCI    – net of current portion		—		2,749		—		2,749		—		—		—		—
Current Financial Assets								—								—
Current portion of derivative    financial assets		—		183		—		183		—		170		—		170
Current portion of FVOCI		—		1,604		—		1,604		—		—		—		—
Current portion of other    financial assets		—		6,833		—		6,833		—		—		—		—
Total		3,625		11,663		984		16,272		12,848		515		2,187		15,550
Noncurrent Financial Liabilities
Derivative financial liabilities		—		—		—		—		—		8		—		8
Current Financial Liabilities
Accrued expenses and other    current liabilities		—		7,862		—		7,862		—		—		—		—
Derivative financial liabilities		—		80		—		80		—		141		—		141
Total		—		7,942		—		7,942		—		149		—		149

⁽¹⁾ Fair values determined using observable market inputs that reflect quoted prices in active markets for identical assets or liabilities.

⁽²⁾ Fair values determined using inputs other than quoted market prices that are either directly or indirectly observable for the assets or liabilities.

⁽³⁾ Fair values determined using discounted values of future cash flows for the assets or liabilities.

Summary of Derivative Financial Instruments

The table below sets out the information about our consolidated derivative financial instruments as at December 31, 2018 and 2017:

											2018					2017
	Original Notional Amount		Trade Date	Underlying Transaction in U.S. Dollar	Termination Date	Weighted Average Hedge Cost			Weighted Average Foreign Exchange Rate		Notional Amount		Net Mark- to- market Gains (Losses) in Php			Notional Amount		Net Mark- to- market Gains (Losses) in Php
	(in millions)			(in millions)					(in millions)
Transactions not designated    as hedges:
PLDT
Long-term currency    swaps	US$262		2001 and 2002	300 Notes 2017	March 6, 2017		3.42	%	Php49.85			—		—			—		—
Forward foreign    exchange contracts	US$34		Various dates in 2017	U.S. dollar liabilities	Various dates in 2017		—		Php50.18			—		—			—		—
	US$56		Various dates in 2017	U.S. dollar liabilities	Various dates in 2018		—		Php50.77			—		—		US$56			(39	)
	US$58		Various dates in 2018	U.S. dollar liabilities	Various dates in 2018		—		Php52.56			—		—			—		—
	US$78		Various dates in 2018 and 2019	U.S. dollar liabilities	Various dates in January 2019 to July 2019		—		Php52.98		US$34			(22	)		—		—
	EUR9		Various dates in August 2018	EUR assets	December 14, 2018		—		US$1.17			—		—			—		—
	EUR11		Various dates in 2018	EUR assets	December 14, 2018		—		Php62.95			—		—			—		—
Foreign    exchange options	EUR36	(a)	Various dates in 2018	EUR assets	Various dates in November 2018 and December 2018		—		EUR1.161			—		—			—		—
									EUR1.185
Smart
Forward foreign    exchange contracts	US$91		Various dates in 2016 and 2017	U.S. dollar liabilities	Various dates in 2017		—		Php49.54			—		—			—		—
	US$120		Various dates in 2017 and 2018	U.S. dollar liabilities	Various dates in 2018		—		Php52.13			—		—		US$46			(49	)
	US$54		Various dates in 2017 and 2018	U.S. dollar liabilities	Various dates in 2019		—		Php53.58		US$54			(38	)		—		—
	US$28		January to March 2019	U.S. dollar liabilities	Various dates in 2019		—		Php52.48
Foreign exchange    options	US$59	(b)	Various dates in 2016 and 2017	U.S. dollar liabilities	Various dates in 2017		—		Php49.60			—		—			—		—
									Php50.30
									Php51.24
	US$4	(c)	Various dates in 2017 and 2018	U.S. dollar liabilities	Various dates in 2018		—		Php50.64			—		—		US$3			(2	)
									Php51.58
									Php52.48
DMPI
Interest rate swaps	US$54		October 7, 2008	59 loan facility	March 31, 2017		3.88	%		—		—		—			—		—
	US$47		October 7, 2008	51 loan facility	June 30, 2017		3.97	%		—		—		—			—		—
														(60	)				(90	)
Transactions designated as    hedges:
PLDT
Interest rate swaps(d)	US$30		January 23, 2015	150 term loan	March 7, 2017		2.11	%		—		—		—			—		—
	US$240		Various dates in 2013 and 2015	300 term loan	January 16, 2018		2.17	%		—		—		—		US$33			2
	US$100		August 2014	100 PNB	August 11, 2020		3.46	%		—	US$96			55		US$97			5
	US$50		September 2014	50 Metrobank	September 2, 2020		3.47	%		—	US$48			25		US$49			—
	US$150		April and June 2015	200 term loan	February 25, 2022		2.70	%		—	US$79			66		US$150			26
Long-term currency    swaps(e)	US$140		October 2015 to June 2016	300 term loan	January 16, 2018		2.20	%	Php46.67			—		—		US$31			88
	US$4		January 2017	100 PNB	August 11, 2020		1.01	%	Php49.79		US$2			7		US$3			2
	US$6		April and June 2017	200 MUFG Bank, Ltd.	August 26, 2019		1.63	%	Php49.51		US$3			9		US$6			—
	US$2		January 2018	200 MUFG Bank, Ltd.	August 26, 2019		1.59	%	Php49.86		US$1			3			—		—
	US$6		February 2018	200 MUFG Bank, Ltd.	February 26, 2020		1.82	%	Php51.27		US$5			6			—		—
	US$11		November and December 2018	200 MUFG Bank, Ltd.	February 25, 2022		2.32	%	Php52.36		US$11			17			—		—
	US$9		February 2019	200 MUFG Bank, Ltd.	February 25, 2022		2.23	%	Php51.88
Smart
Interest rate swaps(f)	US$44		May 16, 2013	50 Bank of Tokyo	May 30, 2017		1.77	%		—		—		—			—		—
	US$110		Various dates in 2013 and 2014	120 term loan	June 20, 2018		2.22	%		—		—		—		US$15			3
	US$85		Various dates in 2014 and 2015	100 Bank of Tokyo	March 7, 2019		2.23	%		—	US$10			3		US$29			8
	US$50		October 2, 2014	50 Mizuho	May 14, 2019		2.58	%		—	US$5			2		US$17			4
	US$200		Various dates in 2015	200 Mizuho	March 4, 2020		2.10	%		—	US$67			52		US$111			51
	US$30		February 2016	100 Mizuho	December 7, 2021		2.03	%		—	US$18			24		US$24			23
Long-term currency    swaps(g)	US$100		Various dates in 2015	200 Mizuho	March 5, 2018		2.21	%	Php46.66			—		—		US$20			58
	US$45		Various dates in 2016	100 Mizuho	December 7, 2018		1.93	%	Php46.55			—		—		US$18			58
	US$11		Various dates in 2017	80 CBC	May 31, 2018		1.28	%	Php49.66			—		—		US$4			1
	US$16		Various dates in 2017 and 2018	100 Mizuho	December 7, 2020		1.69	%	Php50.82		US$16			28		US$8			(2	)
	US$12		Various dates in 2018	200 Mizuho	March 4, 2020		2.01	%	Php51.87		US$9			6			—		—
	US$2		January 10, 2019	2015 Mizuho US$200M	March 4, 2020		2.25	%	Php52.16
	US$2		January 11, 2019	2015 Mizuho US$100M	December 7, 2020		2.34	%	Php52.18
	US$6		February 2019	2015 Mizuho US$100M	December 7, 2021		2.21	%	Php51.83
														303					327
														243					237

(a) If the EUR to U.S. dollar spot exchange rate on the fixing date settles below €1.161, PLDT will sell the EUR at €1.161.  However, if on the fixing date, the exchange rate settles between the €1.161 and €1.185, there will be no settlement by PLDT, and if the exchange rate is above €1.185, PLDT will sell the EUR at €1.185.

(b) If the Philippine peso to U.S. dollar spot exchange rate on the maturity date settles between Php50.30 to Php51.24, Smart will purchase the U.S. dollar for Php50.30.  However, if on maturity, the exchange rate settles above Php51.24, Smart will purchase the U.S. dollar for Php50.30 plus the excess above Php51.24, and if the exchange rate is lower than Php50.30, Smart will purchase the U.S. dollar at the prevailing Philippine peso to U.S. dollar spot exchange rate, subject to a floor of Php49.60.

(c) If the Philippine peso to U.S. dollar spot exchange rate on the maturity date settles between Php51.58 to Php52.48, Smart will purchase the U.S. dollar for Php51.58.  However, if on maturity, the exchange rate settles above Php52.48, Smart will purchase the U.S. dollar for Php51.58 plus the excess above Php52.48, and if the exchange rate is lower than Php51.58, Smart will purchase the U.S. dollar at the prevailing Philippine peso to U.S. dollar spot exchange rate, subject to a floor of Php50.64.

(d) PLDT’s interest rate swap agreements outstanding as at December 31, 2018 and 2017 were designated as cash flow hedges, wherein the effective portion of the movements in fair value is recognized in our consolidated statements of other comprehensive income, while any ineffective portion is recognized immediately in our consolidated income statements.  The mark-to-market gains amounting to Php129 million and Php44 million were recognized in our consolidated statements of other comprehensive income as at December 31, 2018 and 2017, respectively.  Interest accrual on the interest rate swaps amounting to Php17 million and Php11 million were recorded as at December 31, 2018 and 2017, respectively.  There were no ineffective portion in the fair value recognized in our consolidated income statements for the years ended December 31, 2018 and 2017.

(e) PLDT’s long-term principal only-currency swap agreements entered into in 2015 to 2018 were designated as cash flow hedges, wherein effective portion of the movements in the fair value is recognized in our consolidated statements of other comprehensive income, while any ineffective portion is recognized immediately in our consolidated income statements.  The mark-to-market gains amounting to Php45 million and Php108 million were recognized in our consolidated statements of other comprehensive income as at December 31, 2018 and 2017, respectively.  Hedge cost accrual on the long-term principal only-currency swaps amounting to Php3 million and Php18 million were recognized as at December 31, 2018 and 2017, respectively.  The amounts recognized as other comprehensive income are transferred to profit or loss when the hedged loan is revalued for changes in the foreign exchange rate.  A hedge cost portion of the movements in the fair value amounting to Php1 million and Php3 million were recognized in our consolidated income statements for the years ended December 31, 2018 and 2017, respectively.

(f) Smart’s interest rate swap agreements outstanding as at December 31, 2018 and 2017 were designated as cash flow hedges, wherein the effective portion of the movements in fair value is recognized in our consolidated statements of other comprehensive income, while any ineffective portion is recognized immediately in our consolidated income statements.  The mark-to-market gains amounting to Php63 million and Php85 million were recognized in our consolidated statements of other comprehensive income as at December 31, 2018 and 2017, respectively.  Reduction on interest arising from the interest rate swaps amounted to Php18 million and Php4 million as at December 31, 2018 and 2017, respectively.  There were no ineffective portion in the fair value recognized in our consolidated income statements for the years ended December 31, 2018 and 2017.

(g) Smart’s long-term principal only-currency swap agreements outstanding as at December 31, 2018 and 2017 were designated as cash flow hedges, wherein the effective portion of the movements in fair value is recognized in our consolidated statements of other comprehensive income, while any ineffective portion is recognized immediately in our consolidated income statements.  The mark-to-market gains amounting to Php50 million and Php124 million were recognized in our consolidated statements of other comprehensive income as at December 31, 2018 and 2017, respectively.  Hedge cost accrual on the long-term principal only-currency swaps amounting to Php16 million and Php9 million were recognized as at December 31, 2018 and 2017, respectively.  The amounts recognized as other comprehensive income are transferred to profit or loss when the hedged loan is revalued for changes in the foreign exchange rate.  A hedge cost portions of the movements in the fair value amounting to Php2 million and Php4 million was recognized in our consolidated income statements for the years ended December 31, 2018 and 2017, respectively.

Summary of Derivative Financial Instruments by Classification

	2018				2017
				(in million pesos)
Presented as:
Noncurrent assets		140				215
Current assets		183				171
Noncurrent liabilities		—				(8	)
Current liabilities		(80	)			(141	)
Net assets		243				237

Summary of Movements of Consolidated Mark-to-Market Gains (Losses)

Movements of our consolidated mark-to-market gains for the years ended December 31, 2018 and 2017 are summarized as follows:

	2018				2017
				(in million pesos)
Net mark-to-market gains at beginning of the year		237				514
Gains on derivative financial instruments (Note 4)		1,135				724
Effective portion recognized in the profit or loss for the cash flow hedges		27				(55	)
Net fair value losses on cash flow hedges charged to other comprehensive income		(286	)			(411	)
Settlements, interest expense and others		(870	)			(535	)
Net mark-to-market gains at end of the year		243				237

Summary of Analysis of Gains (Losses) on Derivative Financial Instruments

Our consolidated analysis of gains on derivative financial instruments for the years ended December 31, 2018, 2017 and 2016 are as follows:

	2018			2017			2016
				(in million pesos)
Gains on derivative financial instruments (Note 4)		1,135			724			1,539
Hedge costs		(49	)		(191	)		(543	)
Net gains on derivative financial instruments (Notes 4 and 5)		1,086			533			996

Discolsure of Reconciliation of Component of Equity

Summary of Maturity Profile of Financial Assets Based on Consolidated Undiscounted Claims Outstanding

The following table discloses a summary of maturity profile of our financial assets based on our consolidated undiscounted claims outstanding as at December 31, 2018 and 2017:

	Total		Less than 1 year		1-3 years		3-5 years		More than 5 years
	(in million pesos)
December 31, 2018
Financial instruments at amortized cost:		90,232		87,526		2,190		349		167
Other financial assets		2,686		130		2,040		349		167
Debt instruments at amortized cost		150		—		150		—		—
Cash equivalents		45,672		45,672		—		—		—
Short-term investments		1,165		1,165		—		—		—
Retail subscribers		19,444		19,444		—		—		—
Corporate subscribers		11,073		11,073		—		—		—
Foreign administrations		4,225		4,225		—		—		—
Domestic carriers		270		270		—		—		—
Dealers, agents and others		5,547		5,547		—		—		—
Financial instruments at FVPL:		11,596		6,833		—		—		4,763
Financial assets at fair value through profit or loss		4,763		—		—		—		4,763
Other financial assets		6,833		6,833		—		—		—
Financial assets at fair value through other        comprehensive income		4,353		1,604		2,749		—		—
Total		106,181		95,963		4,939		349		4,930
December 31, 2017
Loans and receivables:		96,891		82,814		11,175		2,739		163
Advances and other noncurrent assets		20,901		6,824		11,175		2,739		163
Cash equivalents		26,554		26,554		—		—		—
Short-term investments		1,074		1,074		—		—		—
Investment in debt securities and other long-term    investments		100		100		—		—		—
Retail subscribers		17,961		17,961		—		—		—
Corporate subscribers		9,641		9,641		—		—		—
Foreign administrations		6,517		6,517		—		—		—
Domestic carriers		457		457		—		—		—
Dealers, agents and others		13,686		13,686		—		—		—
HTM investments:		150		—		150		—		—
Investment in debt securities and other long-term    investments		150		—		150		—		—
Available-for-sale financial investments		15,165		—		—		—		15,165
Total		112,206		82,814		11,325		2,739		15,328

Summary of Maturity Profile of Financial Liabilities Based on Consolidated Contractual Undiscounted Obligations Outstanding

The following table discloses a summary of maturity profile of our financial liabilities based on our consolidated contractual undiscounted obligations outstanding as at December 31, 2018 and 2017:  

	Payments Due by Period
	Total		Less than 1 year		1-3 years		3-5 years		More than 5 years
	(in million pesos)
December 31, 2018
Debt(1):		218,791		13,892		72,007		51,098		81,794
Principal		176,694		13,292		49,747		41,401		72,254
Interest		42,097		600		22,260		9,697		9,540
Lease obligations:		22,674		12,727		4,066		2,616		3,265
Operating lease		22,674		12,727		4,066		2,616		3,265
Other obligations:		145,892		140,549		3,206		176		1,961
Various trade and other obligations:		145,892		140,549		3,206		176		1,961
Suppliers and contractors		72,064		69,099		2,828		137		—
Utilities and related expenses		48,189		48,128		61		—		—
Employee benefits		7,955		7,955		—		—		—
Liability from redemption of preferred shares		7,862		7,862		—		—		—
Customers’ deposits		2,194		—		194		39		1,961
Carriers and other customers		1,815		1,815		—		—		—
Dividends		1,533		1,533		—		—		—
Others		4,280		4,157		123		—		—
Total contractual obligations		387,357		167,168		79,279		53,890		87,020
December 31, 2017
Debt(1):		213,597		3,285		70,552		48,958		90,802
Principal		173,136		3,251		51,254		37,925		80,706
Interest		40,461		34		19,298		11,033		10,096
Lease obligations:		20,666		11,871		3,851		2,266		2,678
Operating lease		20,666		11,871		3,851		2,266		2,678
Other obligations:		128,618		120,471		5,881		264		2,002
Various trade and other obligations:		128,618		120,471		5,881		264		2,002
Suppliers and contractors		59,776		54,196		5,339		241		—
Utilities and related expenses		44,007		43,984		22		1		—
Liability from redemption of preferred shares		7,870		7,870		—		—		—
Employee benefits		6,573		6,573		—		—		—
Customers’ deposits		2,443		—		419		22		2,002
Carriers and other customers		2,083		2,083		—		—		—
Dividends		1,575		1,575		—		—		—
Others		4,291		4,190		101		—		—
Total contractual obligations		362,881		135,627		80,284		51,488		95,482

⁽¹⁾ Consists of long-term debt, including current portion; gross of unamortized debt discount and debt issuance costs.

Summary of Future Minimum Lease Commitments Payable with Non-cancellable Operating Leases

Our consolidated future minimum lease commitments payable with non-cancellable operating leases as at December 31, 2018 and 2017 are as follows:  

	2018			2017
			(in million pesos)
Within one year		12,867			11,945
After one year but not more than five years		6,542			6,043
More than five years		3,265			2,678
Total		22,674			20,666

Summary of Foreign Exchange Forward Contracts

Disclosure Of Financial Assets And Liabilities [Line Items]

Summary of Impact of Hedging Instruments

The impact of the hedging instruments on our consolidated statements of financial position is, as follows:

	Notional Amount		Carrying Amount		Line item in the Consolidated Statement
	(U.S. Dollar)		(Php)		of Financial Position
	(in million pesos)
As at December 31, 2018
Long-term currency swaps		46		83	Derivative financial assets - net of current portion
				13	Current portion of derivative financial assets
As at December 31, 2017
Long-term currency swaps		90		115	Derivative financial assets - net of current portion
				125	Current portion of derivative financial assets

Summary of Impact of Hedging Items on Consolidated Statements of Financial Position

The impact of the hedged items on the consolidated statements of financial position is, as follows:

		December 31, 2018					December 31, 2017
		Cash flow hedge reserve			Cost of hedging reserve		Cash flow hedge reserve			Cost of hedging reserve
	(in million pesos)
PLDT:
US$300M Term Loan			(273	)		4		(171	)		18
US$100M PNB			(7	)		—		—			—
US$200M MUFG Bank, Ltd.			(3	)		—		1			—
			(283	)		4		(170	)		18
Smart:
US$200M Mizuho			7			3		65			7
US$100M Mizuho			43			13		57			2
2013 Chinabank US$80M			—			—		2			—
			50			16		124			9

Summary of Effect of the Cash Flow Hedge in Consolidated Income Statements and Statements of Other Comprehensive Income

The effect of the cash flow hedge in the consolidated income statements and statements of other comprehensive income is, as follows:

	Total hedging loss recognized in OCI			Line item in the Consolidated Income Statements
	(in million pesos)
Year Ended December 31, 2018
Long-term currency swaps
		(234	)	Other comprehensive loss
Year Ended December 31, 2017
Long-term currency swaps		(46	)	Other comprehensive loss

Summary of Trade and Other Receivables

The gross carrying amount of financial assets not subject to impairment also represents our maximum exposure to credit risk, as follows:

	2018
	(in million pesos)
Financial assets at fair value through profit or loss		4,763
Derivative financial assets - net of current portion		140
Current portion of derivative financial assets		183
Total		5,086

Summary of Maximum Exposure to Credit Risk of Financial Assets Subject to Impairment

For financial assets recognized on the balance sheet, the gross exposure credit risk equalts their carrying amount.

	2018								2017
	Stage 1 Lifetime ECL		Stage 2 Lifetime ECL		Stage 3 Lifetime ECL		Total		Total
	(in million pesos)								(in million pesos)
High grade		58,299		8,776		—		67,075		83,259
Standard grade		1,470		7,881		—		9,351		9,933
Substarndard grade		3		7,399		—		7,402		11,028
Default		236		1,595		14,908		16,739		14,723
Gross carrying amount		60,008		25,651		14,908		100,567		118,943
Less allowance		236		1,595		14,908		16,739		14,723
Carrying amount		59,772		24,056		—		83,828		104,220

Summary of Maximum Exposure to Credit Risk

An analysis of the maximum exposure to credit risk for the components of our consolidated statements of financial position, including derivative financial instruments as at December 31, 2018 and 2017:

	2018
	Gross Maximum Exposure		Collateral and Other Credit Enhancements*		Net Maximum Exposure
	(in million pesos)
Financial instruments at amortized cost:
Other financial assets		2,450		—		2,450
Debt instruments at amortized cost		150		—		150
Cash and cash equivalents		51,654		187		51,467
Short-term investments		1,165		—		1,165
Retail subscribers		9,620		55		9,565
Corporate subscribers		6,564		273		6,291
Foreign administrations		3,306		—		3,306
Domestic carriers		193		—		193
Dealers, agents and others		4,373		1		4,372
Financial instruments at FVPL:
Other financial assets		6,833		—		6,833
Financial assets at fair value through profit or loss		4,763		—		4,763
Interest rate swap		227		—		227
Long-term currency swap		83		—		83
Currency swap		13		—		13
Financial assets at FVOCI:
Debt instruments at fair value through profit or loss		4,353		—		4,353
Total		95,747		516		95,231

* Includes bank insurance, security deposits and customer deposits.  We have no collateral held as at December 31, 2018.

	2017
	Gross Maximum Exposure		Collateral and Other Credit Enhancements*		Net Maximum Exposure
	(in million pesos)
Loans and receivables:
Advances and other noncurrent assets		20,679		—		20,679
Cash and cash equivalents		32,905		235		32,670
Short-term investments		1,074		—		1,074
Investment in debt securities and other long-term investments		100		—		100
Retail subscribers		9,183		48		9,135
Corporate subscribers		6,337		220		6,117
Foreign administrations		5,579		—		5,579
Domestic carriers		382		—		382
Dealers, agents and others		12,280		1		12,279
HTM investments:
Investment in debt securities and other long-term investments		150		—		150
Available-for-sale financial investments		15,165		—		15,165
Derivatives used for hedging:
Long-term currency swap		240		—		240
Interest rate swap		146		—		146
Total		104,220		504		103,716

* Includes bank insurance, security deposits and customer deposits.  We have no collateral held as at December 31, 2017.

Summary of Information Regarding Credit Quality by Class of Financial Assets

The table below provides information regarding the credit quality by class of our financial assets according to our credit ratings of counterparties as at December 31, 2018 and 2017:  

			Neither past due nor credit impaired				Past due but not
	Total		Class A(1)		Class B(2)		credit impaired		Impaired
	(in million pesos)
December 31, 2018
Financial instruments at amortized cost:		96,214		62,722		9,351		7,402		16,739
Other financial assets		2,686		1,221		1,226		3		236
Debt instruments at amortized cost		150		150		—		—		—
Cash and cash equivalents		51,654		51,410		244		—		—
Short-term investments		1,165		1,165		—		—		—
Retail subscribers		19,444		4,125		3,577		1,918		9,824
Corporate subscribers		11,073		2,806		1,519		2,239		4,509
Foreign administrations		4,225		593		850		1,863		919
Domestic carriers		270		29		49		115		77
Dealers, agents and others		5,547		1,223		1,886		1,264		1,174
Financial instruments at FVPL:		11,919		11,806		113		—		—
Other financial assets		6,833		6,833		—		—		—
Financial assets at fair value through profit or loss		4,763		4,650		113		—		—
Interest rate swap		227		227		—		—		—
Long-term currency swap		83		83		—		—		—
Currency swap		13		13		—		—		—
Financial assets at FVOCI:		4,353		4,353		—		—		—
Debt instruments at fair value through other comprehensive income		4,353		4,353		—		—		—
Total		112,486		78,881		9,464		7,402		16,739

⁽¹⁾ This includes low risk and good paying customer accounts with no history of account treatment for a defined period and no overdue accounts as at report date; and deposits or placements to counterparties with good credit rating or bank standing financial review.

⁽²⁾ This includes medium risk and average paying customer accounts with no overdue accounts as at report date, and new customer accounts for which sufficient credit history has not been established; and deposits or placements to counterparties not classified as Class A.

			Neither past due nor impaired				Past due but not
	Total		Class A(1)		Class B(2)		impaired		Impaired
	(in million pesos)
December 31, 2017
Loans and receivables:		103,242		67,644		9,847		11,028		14,723
Advances and other noncurrent assets		20,901		19,202		1,474		3		222
Cash and cash equivalents		32,905		32,705		200		—		—
Short-term investments		1,074		1,074		—		—		—
Investment in debt securities and other long-term    investments		100		100		—		—		—
Retail subscribers		17,961		2,984		4,919		1,280		8,778
Corporate subscribers		9,641		2,035		2,233		2,069		3,304
Foreign administrations		6,517		838		872		3,869		938
Domestic carriers		457		76		73		233		75
Dealers, agents and others		13,686		8,630		76		3,574		1,406
HTM investments:		150		150		—		—		—
Investment in debt securities and other long-term    investments		150		150		—		—		—
Available-for-sale financial investments		15,165		15,079		86		—		—
Derivatives used for hedging:		386		386		—		—		—
Long-term currency swap		240		240		—		—		—
Interest rate swap		146		146		—		—		—
Total		118,943		83,259		9,933		11,028		14,723

⁽¹⁾ This includes low risk and good paying customer accounts with no history of account treatment for a defined period and no overdue accounts as at report date; and deposits or placements to counterparties with good credit rating or bank standing financial review.

⁽²⁾ This includes medium risk and average paying customer accounts with no overdue accounts as at report date, and new customer accounts for which sufficient credit history has not been established; and deposits or placements to counterparties not classified as Class A.

Summary of Aging Analysis of Past Due But not Impaired Class of Financial Assets

The aging analysis of past due but not impaired class of financial assets as at December 31, 2018 and 2017 are as follows:

					Past due but not credit impaired
	Total		Neither past due nor credit impaired		1-60 days		61-90 days		Over 91 days		Impaired
	(in million pesos)
December 31, 2018
Financial assets at amortized cost:		96,214		72,073		3,262		398		3,742		16,739
Other financial assets		2,686		2,447		—		—		3		236
Debt instruments at amortized cost		150		150		—		—		—		—
Cash and cash equivalents		51,654		51,654		—		—		—		—
Short-term investments		1,165		1,165		—		—		—		—
Retail subscribers		19,444		7,702		1,747		62		109		9,824
Corporate subscribers		11,073		4,325		957		101		1,181		4,509
Foreign administrations		4,225		1,443		139		131		1,593		919
Domestic carriers		270		78		52		21		42		77
Dealers, agents and others		5,547		3,109		367		83		814		1,174
Financial instruments at FVPL:		11,919		11,919		—		—		—		—
Other financial assets		6,833		6,833		—		—		—		—
Financial assets at fair value through    profit or loss		4,763		4,763		—		—		—		—
Interest rate swap		227		227		—		—
Long-term currency swap		83		83		—		—		—		—
Currency swap		13		13		—		—		—		—
Financial assets at FVOCI:		4,353		4,353		—		—		—		—
Debt instruments at fair value through    other comprehensive income		4,353		4,353		—		—		—		—
Total		112,486		88,345		3,262		398		3,742		16,739
December 31, 2017
Loans and receivables:		103,242		77,491		3,261		703		7,064		14,723
Advances and other noncurrent assets		20,901		20,676		—		—		3		222
Cash and cash equivalents		32,905		32,905		—		—		—		—
Short-term investments		1,074		1,074		—		—		—		—
Investment in debt securities and other    long-term investments		100		100		—		—		—		—
Retail subscribers		17,961		7,903		927		20		333		8,778
Corporate subscribers		9,641		4,268		724		267		1,078		3,304
Foreign administrations		6,517		1,710		646		217		3,006		938
Domestic carriers		457		149		84		53		96		75
Dealers, agents and others		13,686		8,706		880		146		2,548		1,406
HTM investments:		150		150		—		—		—		—
Investment in debt securities and other    long-term investments		150		150		—		—		—		—
Available-for-sale financial investments		15,165		15,165		—		—		—		—
Derivatives used for hedging:		386		386		—		—		—		—
Long-term currency swap		240		240		—		—		—		—
Interest rate swap		146		146		—		—		—		—
Total		118,943		93,192		3,261		703		7,064		14,723

Foreign currency exchange risk [Member]

Disclosure Of Financial Assets And Liabilities [Line Items]

Summary of Market Risk

The following table shows our consolidated foreign currency-denominated monetary financial assets and liabilities and their Philippine peso equivalents as at December 31, 2018 and 2017:

	2018				2017
	U.S. Dollar		Php(1)		U.S. Dollar		Php(2)
	(in millions)
Noncurrent Financial Assets
Derivative financial assets – net of current portion		3		140		4		215
Other financial assets – net of current portion		—		12		—		2
Total noncurrent financial assets		3		152		4		217
Current Financial Assets
Cash and cash equivalents		717		37,688		440		21,988
Short-term investments		22		1,138		2		75
Trade and other receivables – net		261		13,741		218		10,893
Current portion of derivative financial assets		3		183		3		171
Current portion of investment in debt securities and    other long-term investments		—		—		2		100
Current portion of other financial assets		—		11		—		9
Total current financial assets		1,003		52,761		665		33,236
Total Financial Assets		1,006		52,913		669		33,453
Noncurrent Financial Liabilities
Interest-bearing financial liabilities – net of current portion		336		17,668		446		22,285
Derivative financial liabilities – net of current portion		—		—		—		8
Other noncurrent liabilities		—		12		—		11
Total noncurrent financial liabilities		336		17,680		446		22,304
Current Financial Liabilities
Accounts payable		415		21,797		233		11,670
Accrued expenses and other current liabilities		170		8,961		166		8,314
Current portion of interest-bearing financial liabilities		110		5,780		259		12,922
Current portion of derivative financial liabilities		2		80		3		141
Total current financial liabilities		697		36,618		661		33,047
Total Financial Liabilities		1,033		54,298		1,107		55,351

⁽¹⁾ The exchange rate used to convert the U.S. dollar amounts into Philippine peso was Php52.56 to US$1.00, the Philippine peso-U.S. dollar exchange rate as quoted through the Bankers Association of the Philippines as at December 31, 2018.

⁽²⁾ The exchange rate used to convert the U.S. dollar amounts into Philippine peso was Php49.96 to US$1.00, the Philippine peso-U.S. dollar exchange rate as quoted through the Philippine Dealing System as at December 31, 2017.

Interest rate risk [member]

Disclosure Of Financial Assets And Liabilities [Line Items]

Summary of Impact of Hedging Instruments

The impact of the hedging instruments on our consolidated statements of financial position is, as follows:

	Notional Amount		Carrying Amount			Line item in the Consolidated Statement
	(U.S. Dollar)		(Php)			of Financial Position
	(in million pesos)
As at December 31, 2018
Interest rate swaps		323		57		Derivative financial assets - net of current portion
				170		Current portion of derivative financial assets
		323		227
As at December 31, 2017
Interest rate swaps		525		101		Derivative financial assets - net of current portion
				45		Current portion of derivative financial assets
				(24	)	Current portion of derivative financial assets
		525		122

Summary of Impact of Hedging Items on Consolidated Statements of Financial Position

The impact of the hedged items on the consolidated statements of financial position is, as follows:

		December 31, 2018					December 31, 2017
		Cash flow hedge reserve			Cost of hedging reserve		Cash flow hedge reserve			Cost of hedging reserve
	(in million pesos)
PLDT:
US$100M PNB			50			—		9			—
US$50M MBTC			24			—		1			—
US$200M MUFG Bank, Ltd.			55			—		34			—
			129			—		44			—
Smart:
2014 BTMU US$100M			(6	)		—		—			—
2014 Mizuho US$50M			(2	)		—		3			—
2015 Mizuho US$200M			(11	)		—		8			—
2015 Mizuho US$100M			—			—		1			—
2013 Sumitomo US$120M			(3	)		—		(6	)		—
2013 BTMU US$50M			—			—		(1	)		—
			(22	)		—		5			—

Summary of Effect of the Cash Flow Hedge in Consolidated Income Statements and Statements of Other Comprehensive Income

The effect of the cash flow hedge in the consolidated income statements and statements of other comprehensive income is, as follows:

	Total hedging loss recognized in OCI		Line item in the Consolidated Income Statements
	(in million pesos)
Year Ended December 31, 2018
Interest rate swaps
		179	Other comprehensive loss
Year Ended December 31, 2017
Interest rate swaps		169	Other comprehensive loss

Summary of Market Risk

The following tables set out the carrying amounts, by maturity, of our financial instruments that are expected to have exposure on interest rate risk as at December 31, 2018 and 2017.  Financial instruments that are not subject to interest rate risk were not included in the table.

As at December 31, 2018

	In U.S. Dollars																	Discount/				Fair Value
	Below 1 year			1-2 years			2-3 years		3-5 years			Over 5 years		Total		In Php		Debt Issuance Cost In Php		Carrying Value In Php		In U.S. Dollar		In Php
																		(in millions)
Assets:
Debt Instruments    at Amortized Cost
U.S. Dollar		—			—			—		—			—		—		—		—		—		—		—
Interest rate		—			—			—		—			—		—		—		—		—		—		—
Philippine Peso		—			3			—		—			—		3		150		—		150		3		148
Interest rate		—			4.8371	%		—		—			—		—		—		—		—		—		—
Cash in Bank
U.S. Dollar		30			—			—		—			—		30		1,580		—		1,580		30		1,580
Interest rate	0.0100% to 0.2500%				—			—		—			—		—		—		—		—		—		—
Philippine Peso		57			—			—		—			—		57		3,017		—		3,017		57		3,017
Interest rate	0.05000% to 1.2500%				—			—		—			—		—		—		—		—		—		—
Other Currencies		—			—			—		—			—		—		4		—		4		—		4
Interest rate	0.1000% to 0.5000%				—			—		—			—		—		—		—		—		—		—
Temporary Cash Investments
U.S. Dollar		675			—			—		—			—		675		35,467		—		35,467		675		35,467
Interest rate	2.7000% to 3.0000%				—			—		—			—		—		—		—		—		—		—
Philippine Peso		194			—			—		—			—		194		10,204		—		10,204		194		10,204
Interest rate	0.2500% to 7.0500%				—			—		—			—		—		—		—		—		—		—
Other Currencies		—			—			—		—			—		—		—		—		—		—		—
Interest rate	0.0750%				—			—		—			—		—		—		—		—		—		—
Short-term Investments
U.S. Dollar		22			—			—		—			—		22		1,138		—		1,138		22		1,138
Interest rate	2.5000% to 3.0000%				—			—		—			—		—		—		—		—		—		—
Philippine Peso		1			—			—		—			—		1		27		—		27		1		27
Interest rate	3.5000%				—			—		—			—		—		—		—		—		—		—
Other Currencies		—			—			—		—			—		—		—		—		—		—		—
Interest rate	0.0750%				—			—		—			—		—		—		—		—		—		—
		979			3			—		—			—		982		51,587		—		51,587		982		51,585
Liabilities:
Long-term Debt
Fixed Rate
U.S. Dollar Fixed    Loans		2			15			7		4			—		28		1,483		1		1,482		28		1,502
Interest rate		1.4100	%		2.8850	%	2.8850%			2.8850	%		—		—		—		—		—		—		—
Philippine Peso		234			123			319		730			1,232		2,638		138,637		278		138,359		2,319		121,868
Interest rate	4.9110% to 5.6038%			3.9000% to 6.7339%			3.9000% to 6.7339%		3.9000% to 6.7339%			4.2500% to 6.7339%			—		—		—		—		—		—
Variable Rate
U.S. Dollar Loans		17			286			38		52			25		418		21,964		94		21,870		418		21,965
Interest rate	0.9500% to 1.1000% over LIBOR			0.7900% to 1.4500% over LIBOR			0.7900% to 0.9500% over LIBOR		0.7900% to 1.0500% over LIBOR			1.0500% over LIBOR			—		—		—		—		—		—
Philippine Peso		—			94			64		2			118		278		14,610		45		14,565		278		14,610
Interest rate*		—		0.5000% to 1.0000% over PHP BVAL			0.5000% to 1.0000% over PHP BVAL		0.5000% to 0.6000% over PHP BVAL			0.5000% to 0.6000% over PHP BVAL			—		—		—		—		—		—
		253			518			428		788			1,375		3,362		176,694		418		176,276		3,043		159,945

* Effective October 29, 2018, PHP BVAL Reference Rate replaced PDST Reference Rates (PDST-R1 and PDST-R2).

As at December 31, 2017

	In U.S. Dollars																	Discount/				Fair Value
	Below 1 year			1-2 years		2-3 years			3-5 years			Over 5 years		Total		In Php		Debt Issuance Cost In Php		Carrying Value In Php		In U.S. Dollar		In Php
																		(in millions)
Assets:
Investment in Debt Securities    and Other Long-term    Investments
U.S. Dollar		2			—		—			—			—		2		100		—		100		2		100
Interest rate		3.5000	%		—		—			—			—		—		—		—		—		—		—
Philippine Peso		—			—		3			—			—		3		150		—		150		3		151
Interest rate		—			—		4.8371	%		—			—		—		—		—		—		—		—
Cash in Bank
U.S. Dollar		29			—		—			—			—		29		1,465		—		1,465		29		1,465
Interest rate	0.0100% to 0.2500%				—		—			—			—		—		—		—		—		—		—
Philippine Peso		89			—		—			—			—		89		4,468		—		4,468		89		4,468
Interest rate	0.05000% to 1.2500%				—		—			—			—		—		—		—		—		—		—
Other Currencies		—			—		—			—			—		—		9		—		9		—		9
Interest rate	0.1000% to 0.5000%				—		—			—			—		—		—		—		—		—		—
Temporary Cash Investments
U.S. Dollar		402			—		—			—			—		402		20,063		—		20,063		402		20,063
Interest rate	0.2500% to 2.1000%				—		—			—			—		—		—		—		—		—		—
Philippine Peso		130			—		—			—			—		130		6,491		—		6,491		130		6,491
Interest rate	0.1250% to 4.3250%				—		—			—			—		—		—		—		—		—		—
Short-term Investments
U.S. Dollar		22			—		—			—			—		22		1,074		—		1,074		22		1,074
Interest rate		2.1000	%		—		—			—			—		—		—		—		—		—		—
Philippine Peso		—			—		—			—			—		—		—		—		—		—		—
Interest rate		—			—		—			—			—		—		—		—		—		—		—
		674			—		3			—			—		677		33,820		—		33,820		677		33,821
Liabilities:
Long-term Debt
Fixed Rate
U.S. Dollar Fixed    Loans		5			37		8			11			—		61		3,050		6		3,044		62		3,104
Interest rate		1.4100	%	1.4100% to 2.8850%		2. 8850%				2.8850	%		—		—		—		—		—		—		—
Philippine Peso		—			333		81			618			1,565		2,597		129,733		335		129,398		2,450		122,418
Interest rate		—		3.9000% to 6.4044%		3.9000% to 6.4044%			3.9000% to 6.4044%			3.9000% to 6.4044%			—		—		—		—		—		—
Variable Rate
U.S. Dollar		60			266		203			65			50		644		32,158		170		31,988		644		32,158
Interest rate	1.2000% to 1.6000% over LIBOR			US$LIBOR + 0.7900% to 1.4500%		US$LIBOR + 0.7900% to 1.4500%			US$LIBOR + 0.7900% to 0.9500%			US$LIBOR + 1.0500%			—		—		—		—		—		—
Philippine Peso		—			3		95			66			—		164		8,195		14		8,181		164		8,195
Interest rate		—		1.0000% over PDST-R2		1.0000% over PDST-R2			1.0000% over PDST-R2				—		—		—		—		—		—		—
		65			639		387			760			1,615		3,466		173,136		525		172,611		3,320		165,875