The table below shows the maximum exposure to credit risk for the components of our consolidated statements of financial position, including derivative financial instruments as at December 31, 2017 and 2016:
|
|
|
2017 |
|
|||||||||
|
|
|
Gross Maximum Exposure |
|
|
Collateral and Other Credit Enhancements* |
|
|
Net Maximum Exposure |
|
|||
|
|
|
(in million pesos) |
|
|||||||||
|
Cash and cash equivalents |
|
|
32,905 |
|
|
|
235 |
|
|
|
32,670 |
|
|
Loans and receivables: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Advances and other noncurrent assets |
|
|
20,679 |
|
|
|
— |
|
|
|
20,679 |
|
|
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. |
|
|
|
2016 |
|
|||||||||
|
|
|
Gross Maximum Exposure |
|
|
Collateral and Other Credit Enhancements* |
|
|
Net Maximum Exposure |
|
|||
|
|
|
(in million pesos) |
|
|||||||||
|
Cash and cash equivalents |
|
|
38,722 |
|
|
|
270 |
|
|
|
38,452 |
|
|
Loans and receivables: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Advances and other noncurrent assets |
|
|
17,068 |
|
|
|
— |
|
|
|
17,068 |
|
|
Short-term investments |
|
|
2,736 |
|
|
|
— |
|
|
|
2,736 |
|
|
Investment in debt securities and other long-term investments |
|
|
348 |
|
|
|
— |
|
|
|
348 |
|
|
Retail subscribers |
|
|
7,702 |
|
|
|
46 |
|
|
|
7,656 |
|
|
Corporate subscribers |
|
|
5,506 |
|
|
|
188 |
|
|
|
5,318 |
|
|
Foreign administrations |
|
|
5,191 |
|
|
|
— |
|
|
|
5,191 |
|
|
Domestic carriers |
|
|
220 |
|
|
|
— |
|
|
|
220 |
|
|
Dealers, agents and others |
|
|
5,817 |
|
|
|
1 |
|
|
|
5,816 |
|
|
HTM investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment in debt securities and other long-term investments |
|
|
352 |
|
|
|
— |
|
|
|
352 |
|
|
Financial instruments at FVPL: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Forward foreign exchange contracts |
|
|
54 |
|
|
|
— |
|
|
|
54 |
|
|
Short-term currency swaps |
|
|
12 |
|
|
|
— |
|
|
|
12 |
|
|
Short-term investments |
|
|
2 |
|
|
|
— |
|
|
|
2 |
|
|
Available-for-sale financial investments |
|
|
12,189 |
|
|
|
— |
|
|
|
12,189 |
|
|
Derivatives used for hedging: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Long-term currency swap |
|
|
559 |
|
|
|
— |
|
|
|
559 |
|
|
Interest rate swap |
|
|
116 |
|
|
|
— |
|
|
|
116 |
|
|
Total |
|
|
96,594 |
|
|
|
505 |
|
|
|
96,089 |
|
|
|
* |
Includes bank insurance, security deposits and customer deposits. We have no collateral held as at December 31, 2016. |