|
24. |
Accrued Expenses and Other Current Liabilities |
As at December 31, 2017 and 2016, this account consists of:
|
|
|
2017 |
|
|
2016 |
|
||
|
|
|
(in million pesos) |
|
|||||
|
Accrued utilities and related expenses (Notes 25 and 28) |
|
|
53,433 |
|
|
|
48,898 |
|
|
Accrued taxes and related expenses (Note 27) |
|
|
11,645 |
|
|
|
9,922 |
|
|
Unearned revenues (Note 22) |
|
|
8,039 |
|
|
|
6,990 |
|
|
Liability from redemption of preferred shares (Notes 20 and 28) |
|
|
7,870 |
|
|
|
7,883 |
|
|
Accrued employee benefits and other provisions (Notes 25, 26 and 28) |
|
|
6,599 |
|
|
|
6,214 |
|
|
Accrued interests and other related costs (Notes 21 and 28) |
|
|
1,176 |
|
|
|
1,412 |
|
|
Provision for claims and assessments (Note 27) |
|
|
— |
|
|
|
897 |
|
|
Others (Note 10) |
|
|
1,978 |
|
|
|
10,900 |
|
|
|
|
|
90,740 |
|
|
|
93,116 |
|
Accrued utilities and related expenses pertain to costs incurred for electricity and water consumption, repairs and maintenance, selling and promotions, professional and other contracted services, rent, insurance and security services.
Accrued taxes and related expenses pertain to licenses, permits and other related business taxes, which are normally settled within a year.
Unearned revenues represent advance payments for leased lines, installation fees, monthly service fees and unused and/or unexpired portion of prepaid loads.
Other accrued expenses and other current liabilities are non-interest-bearing and are normally settled within a year. This pertains to other costs incurred for operations-related expenses pending receipt of invoice and statement of accounts from suppliers. The account as at December 31, 2016 includes the unpaid portion of PLDT’s investments in VTI, Bow Arken and Brightshare. See Note 10 – Investments in Associates and Joint Ventures – Investments of PLDT in VTI, Bow Arken and Brightshare.