as follows 2017 2016 in million pesos Balance at beginning of the year 2617 917

As follows 2017 2016 in million pesos balance at

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as follows: 2017 2016 (in million pesos) Balance at beginning of the year 2,617 917 Provisions (Note 5) 907 1,941 Write-off and others (1,032) (241) Balance at end of the year 2,492 2,617 19. Prepayments As at December 31, 2017 and 2016, this account consists of: 2017 2016 (in million pesos) Prepaid taxes 10,451 11,311 Prepaid rent 2,126 433 Prepaid fees and licenses 848 1,194 Prepaid benefit costs (Note 26) 400 261 Prepaid selling and promotions (Note 25) 289 494 Prepaid repairs and maintenance 207 232 Prepaid insurance (Note 25) 105 105 Other prepayments (Note 25) 577 531 15,003 14,561 Less current portion of prepayments 9,633 7,505 Noncurrent portion of prepayments 5,370 7,056 Prepaid taxes include creditable withholding taxes and input VAT. Prepaid benefit costs represent excess of fair value of plan assets over present value of defined benefit obligations recognized in our consolidated statements of financial position. See Note 26 – Employee Benefits . 20. Equity PLDT’s number of shares of subscribed and outstanding capital stock as at December 31, 2017 and 2016 are as follows: 2017 2016 (in millions) Authorized Non-Voting Serial Preferred Stocks 388 388 Voting Preferred Stock 150 150 Common Stock 234 234 Subscribed Non-Voting Serial Preferred Stocks (1) 300 300 Voting Preferred Stock 150 150 Common Stock 219 219 Outstanding Non-Voting Serial Preferred Stocks (1) 300 300 Voting Preferred Stock 150 150 Common Stock 216 216 Treasury Stock Common Stock 3 3 (1) Includes 300 million shares of Series IV Cumulative Non-Convertible Redeemable Preferred Stock subscribed for Php3 billion, of which Php360 million has been paid.
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F-88 20. Equity PLDT’s number of shares of subscribed and outstanding capital stock as at December 31, 2016 and 2015 are as follows: 2016 2015 (in millions) Authorized Non-Voting Serial Preferred Stocks 388 388 Voting Preferred Stock 150 150 Common Stock 234 234 Subscribed Non-Voting Serial Preferred Stocks (1) 300 300 Voting Preferred Stock 150 150 Common Stock 219 219 Outstanding Non-Voting Serial Preferred Stocks (1) 300 300 Voting Preferred Stock 150 150 Common Stock 216 216 Treasury Stock Common Stock 3 3 (1) Includes 300 million shares of Series IV Cumulative Non-Convertible Redeemable Preferred Stock subscribed for Php3 billion, of which Php360 million has been paid. The changes in PLDT’s capital account are the redemption of 370 shares of Series II 10% Cumulative Convertible Preferred Stock and the issuance of 870 shares or Php8,700 of Series JJ 10% Cumulative Convertible Preferred Stock for the years ended December 31, 2016 and 2015, respectively. Preferred Stock Non-Voting Serial Preferred Stocks On January 26, 2016, the Board of Directors designated 20,000 shares of Non-Voting Serial Preferred Stock as Series KK 10% Cumulative Convertible Preferred Stock to be issued from January 1, 2016 to December 31, 2020, pursuant to the PLDT Subscriber Investment Plan, or SIP. On November 5, 2013, the Board of Directors designated 50,000 shares of Non-Voting Serial Preferred Stock as Series JJ 10% Cumulative Convertible Preferred Stock to be issued from January 1, 2013 to December 31, 2015, pursuant to the SIP. On June 8, 2015, PLDT issued 870 shares of Series JJ 10% Cumulative Convertible Preferred Stock.
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