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Long-term assets (Tables) | 12 Months Ended
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Dec. 31, 2020
Subclassifications of assets, liabilities and equities [abstract] |
Disclosure of intangible assets useful lives | Estimated useful lives are:
| Years
Estimated useful lives |
Trademarks | 1 to 15
Customer lists | 4 to 20
Movements in intangible assets and goodwill | Movements in intangible assets in 2020
| Goodwill | Licenses | Customer Lists | IRUs | Trademark | Other (i) | Total
| (US$ millions)
Opening balance, net | 1,684 |  | 468 |  | 470 |  | 107 |  | 183 |  | 282 |  | 3,195 |
Change in scope | — |  | — |  | — |  | — |  | — |  | — |  | — |
Additions | — |  | 421 |  | — |  | — |  | — |  | 99 |  | 520 |
Amortization charge | — |  | (71) |  | (44) |  | (13) |  | (106) |  | (84) |  | (318) |
Impairment | — |  | — |  | — |  | — |  | — |  | — |  | — |
Disposals, net | — |  | — |  | — |  | 14 |  | — |  | — |  | 13 |
Transfers | — |  | 3 |  | — |  | (18) |  | — |  | (1) |  | (16) |
Exchange rate movements | (26) |  | 49 |  | (3) |  | (3) |  | — |  | (8) |  | 10 |
Closing balance, net | 1,659 |  | 870 |  | 423 |  | 86 |  | 77 |  | 289 |  | 3,403 |
Cost or valuation | 1,659 |  | 1,305 |  | 630 |  | 196 |  | 323 |  | 840 |  | 4,953 |
Accumulated amortization and impairment | — |  | (435) |  | (207) |  | (111) |  | (246) |  | (550) |  | (1,550) |
Net | 1,659 |  | 870 |  | 423 |  | 86 |  | 77 |  | 289 |  | 3,403 |
Movements in intangible assets in 2019
| Goodwill | Licenses | Customer Lists | IRUs | Trademark | Other (i) | Total
| (US$ millions)
Opening balance, net | 1,069 |  | 318 |  | 371 |  | 89 |  | 282 |  | 218 |  | 2,346 |
Change in scope (ii) | 623 |  | 142 |  | 137 |  | 10 |  | — |  | 24 |  | 936 |
Additions | — |  | 101 |  | — |  | — |  | — |  | 101 |  | 202 |
Amortization charge | — |  | (55) |  | (37) |  | (14) |  | (99) |  | (67) |  | (272) |
Impairment | — |  | (8) |  | — |  | — |  | — |  | — |  | (8) |
Disposals, net | — |  | — |  | — |  | — |  | — |  | — |  | — |
Transfers | — |  | (5) |  | — |  | 23 |  | — |  | 15 |  | 33 |
Transfer to/from held for sale | — |  | (18) |  | — |  | — |  | — |  | (3) |  | (21) |
Exchange rate movements | (7) |  | (8) |  | (1) |  | — |  | — |  | (4) |  | (21) |
Closing balance, net | 1,684 |  | 468 |  | 470 |  | 107 |  | 183 |  | 282 |  | 3,195 |
Cost or valuation | 1,684 |  | 926 |  | 688 |  | 214 |  | 325 |  | 809 |  | 4,647 |
Accumulated amortization and impairment | — |  | (458) |  | (218) |  | (107) |  | (142) |  | (527) |  | (1,451) |
Net | 1,684 |  | 468 |  | 470 |  | 107 |  | 183 |  | 282 |  | 3,195 |
(i) Other includes mainly software costs (ii) Restated as a result of the
Cash used for purchases of long-term assets | Cash used for intangible asset additions
| 2020 | 2019 | 2018
| (US$ millions)
Additions | 520 |  | 202 |  | 158 |
Change in accruals and payables for intangibles | (315) |  | (32) |  | (10) |
Cash used for additions | 202 |  | 171 |  | 148 |
Cash used for property, plant and equipment additions
| 2020 | 2019 | 2018
| (US$ millions)
Additions | 649 |  | 719 |  | 698 |
Change in advances to suppliers | (4) |  | 1 |  | 2 |
Change in accruals and payables for property, plant and equipment | (22) |  | 17 |  | (25) |
Finance leases(i) | (1) |  | (1) |  | (43) |
Cash used for additions | 622 |  | 736 |  | 632 |
(i)As a result of the application of IFRS 16 finance leases were reclassified to lease liabilities on January 1, 2019. See above in the "New and amended IFRS accounting standards" for further information.
Allocation of goodwill to cash generating units | Allocation of Goodwill to cash generating units (CGUs), net of exchange rate movements and after impairment
| 2020 | 2019
| (US$ millions)
Panama (see note A.1.2.)(i) | 907 |  | 907 |
El Salvador | 194 |  | 194 |
Costa Rica | 115 |  | 123 |
Paraguay | 47 |  | 50 |
Colombia | 173 |  | 181 |
Tanzania (see note E.1.6.) | 12 |  | 12 |
Nicaragua (see note A.1.2)(i) | 207 |  | 213 |
Other | 3 |  | 3 |
Total | 1,659 |  | 1,684 |
The most significant estimates used for the 2020 and 2019 impairment test are shown below:
CGU | Average EBITDA margin (%) (i) | Average CAPEX intensity (%) (i) | Perpetual growth rate (%) | WACC rate after tax (%)
| 2020 | 2019 | 2020 | 2019 | 2020 | 2019 | 2020 | 2019
Bolivia | 39.2 | 42.0 | 16.8 | 18.4 | 1.0 | 1.5 | 11.5 | 10.7
Colombia | 35.7 | 34.1 | 17.7 | 17.7 | 2.0 | 1.9 | 8.3 | 8.6
Costa Rica | 32.9 | 36.3 | 17.8 | 23.3 | 2.0 | 1.9 | 12.1 | 10.1
El Salvador | 35.4 | 33.4 | 14.0 | 15.2 | 1.0 | 0.8 | 13.8 | 10.7
Nicaragua (see note A.1.2) | 45.6 | 33.7 | 15.9 | 16.2 | 3.0 | 2.0 | 13.8 | 10.9
Panamá (see note A.1.2) | 48.2 | 42.6 | 17.5 | 14.8 | 1.0 | 1.5 | 7.6 | 8.3
Paraguay | 44.3 | 46.9 | 15.6 | 16.0 | 1.0 | 1.6 | 8.4 | 9.0
Tanzania | 39.5 | 31.2 | 11.7 | 12.2 | 1.0 | 1.5 | 13.8 | 14.4
(i) Average is computed over the period covered by the plan. Management performed a sensitivity analysis on key assumptions within the test. The following maximum increases or decreases, expressed in percentage points, were considered for all CGUs:
Reasonable changes in key assumptions (%)
Financial variables |
WACC rates | +/-1
Perpetual growth rates | +/-1
Operating variables |
EBITDA margin | +/-2
CAPEX intensity | +/-1
The sensitivity analysis shows a comfortable headroom between the recoverable amounts and the carrying values for all CGUs at December 31, 2020, except for El Salvador, Colombia and Nicaragua CGUs (the latter includes both the legacy fixed business and the recently acquired Telefonica's assets). The following changes in key assumptions would trigger a potential impairment, which would mainly be due to the current political and economic turmoil caused by the pandemic:
Changes in key assumptions that would trigger a potential impairment | CGU
El Salvador | Colombia | Nicaragua
Financial variables |  |  |
WACC rate | +86bps | +85bps | +57bps
Operating variables |  |  |
Average EBITDA margin | -147bps | -160bps | -183bps
Schedule of property, plant and equipment and movements in tangible assets |
Estimated useful lives | Duration
Buildings | 40 years or lease period, if shorter
Networks (including civil works) | 5 to 15 years or lease period, if shorter
Other | 2 to 7 years
Movements in tangible assets in 2020
| Network Equipment (ii) | Land and Buildings | Construction in Progress | Other(i) | Total
| (US$ millions)
Opening balance, net | 2,212 |  | 206 |  | 355 |  | 127 |  | 2,899 |
Additions | 31 |  | — |  | 606 |  | 11 |  | 649 |
Disposals, net | 31 |  | (2) |  | (2) |  | (41) |  | (13) |
Depreciation charge | (644) |  | (22) |  | — |  | (83) |  | (749) |
Asset retirement obligations | 17 |  | 2 |  | — |  | — |  | 19 |
Transfers | 588 |  | 5 |  | (644) |  | 75 |  | 24 |
Transfer from/(to) assets held for sale (see note E.4) | 1 |  | 1 |  | — |  | — |  | 3 |
Exchange rate movements | (62) |  | (5) |  | (7) |  | (2) |  | (77) |
Closing balance, net | 2,175 |  | 185 |  | 308 |  | 87 |  | 2,755 |
Cost or valuation | 6,423 |  | 329 |  | 308 |  | 407 |  | 7,466 |
Accumulated amortization and impairment | (4,248) |  | (144) |  | — |  | (320) |  | (4,711) |
Net at December 31, 2020 | 2,175 |  | 185 |  | 308 |  | 87 |  | 2,755 |
Movements in tangible assets in 2019
| Network equipment | Land and buildings | Construction in progress | Other(i) | Total
| (US$ millions)
Opening balance, net | 2,149 |  | 175 |  | 284 |  | 156 |  | 2,764 |
Change in Scope (ii) | 201 |  | 48 |  | 14 |  | 9 |  | 272 |
Additions | 87 |  | 4 |  | 612 |  | 16 |  | 719 |
Impairments/reversal of impairment, net | — |  | — |  | — |  | 1 |  | 1 |
Disposals, net | (8) |  | (1) |  | (6) |  | (3) |  | (19) |
Depreciation charge | (588) |  | (13) |  | — |  | (110) |  | (711) |
Asset retirement obligations | 14 |  | 5 |  | — |  | — |  | 19 |
Transfers | 444 |  | 4 |  | (537) |  | 64 |  | (24) |
Transfers from/(to) assets held for sale (see note E.4.)(iv) | (61) |  | (14) |  | (7) |  | (5) |  | (88) |
Exchange rate movements | (25) |  | (2) |  | (6) |  | (1) |  | (34) |
Closing balance, net | 2,212 |  | 206 |  | 355 |  | 127 |  | 2,899 |
Cost or valuation | 6,655 |  | 364 |  | 355 |  | 477 |  | 7,851 |
Accumulated amortization and impairment | (4,443) |  | (158) |  | — |  | (351) |  | (4,952) |
Net at December 31, 2019 | 2,212 |  | 206 |  | 355 |  | 127 |  | 2,899 |
(i) Other mainly includes office equipment and motor vehicles. (ii) Restated as a result of the finalization of the purchase accounting of our acquisitions in Nicaragua and Panama (note A.1.2.).
Disclosure of movement in right of use assets | Movements in right of use assets in 2020
Right-of-use assets | Land and buildings | Sites rental | Tower rental | Other network equipment | Capacity | Other | Total
| (US$ millions) |  |  |
Opening balance, net | 148 |  | 101 |  | 729 |  | 16 |  | 15 |  | 3 |  | 1,012 |
Change in scope | — |  | — |  | — |  | — |  | — |  | — |  | — |
Additions | 41 |  | 2 |  | 23 |  | 18 |  | 1 |  | 1 |  | 86 |
Modifications | 9 |  | 10 |  | (27) |  | (1) |  | — |  | — |  | (8) |
Impairments | (1) |  | — |  | — |  | — |  | — |  | — |  | (1) |
Disposals | (10) |  | (1) |  | — |  | (1) |  | — |  | — |  | (12) |
Depreciation | (38) |  | (17) |  | (88) |  | (8) |  | (1) |  | (2) |  | (155) |
Asset retirement obligations | — |  | 1 |  | — |  | — |  | — |  | (1) |  | — |
Transfers | — |  | — |  | (2) |  | 5 |  | — |  | 1 |  | 4 |
Exchange rate movements | (3) |  | (2) |  | (27) |  | — |  | — |  | — |  | (32) |
Closing balance, net | 147 |  | 93 |  | 607 |  | 31 |  | 14 |  | 2 |  | 895 |
Cost of valuation | 206 |  | 127 |  | 839 |  | 42 |  | 18 |  | 6 |  | 1,238 |
Accumulated depreciation and impairment | (59) |  | (34) |  | (232) |  | (12) |  | (4) |  | (3) |  | (343) |
Net at December 31, 2020 | 147 |  | 93 |  | 607 |  | 31 |  | 14 |  | 2 |  | 895 |
In early 2020, and following a change in regulation in Colombia, future lease payments for the use of certain public assets have been significantly decreased. This triggered a lease modification and a decrease of the related lease liabilities (and right-of-use assets) of approximately $45 million. Except for the change above, there have been no other unusual significant events affecting lease liabilities (and right-of-use assets) during the year ended December 31, 2020. Movements in right of use assets in 2019
Right-of-use assets | Land and buildings | Sites rental | Tower rental | Capacity | Other network equipment | Other | Total
| (US$ millions) |  |  |
Opening balance, net | 154 |  | 67 |  | 623 |  | — |  | 9 |  | 4 |  | 856 |
Change in scope (i) | 3 |  | 58 |  | 130 |  | 13 |  | 8 |  | — |  | 212 |
Additions | 25 |  | 4 |  | 67 |  | 2 |  | 1 |  | 1 |  | 102 |
Modifications | 6 |  | (2) |  | 7 |  | — |  | — |  | — |  | 11 |
Impairments | (1) |  | — |  | — |  | — |  | — |  | — |  | (1) |
Disposals | (4) |  | (4) |  | (1) |  | — |  | — |  | — |  | (10) |
Depreciation | (35) |  | (16) |  | (86) |  | — |  | (2) |  | (2) |  | (141) |
Asset retirement obligations | — |  | — |  | — |  | — |  | — |  | — |  | — |
Transfers | — |  | — |  | 1 |  | — |  | — |  | — |  | 1 |
Transfers to/from assets held for sale | (1) |  | (5) |  | (3) |  | — |  | — |  | — |  | (9) |
Exchange rate movements | — |  | (2) |  | (7) |  | — |  | — |  | — |  | (10) |
Closing balance, net | 148 |  | 101 |  | 729 |  | 15 |  | 16 |  | 3 |  | 1,012 |
Cost of valuation | 181 |  | 119 |  | 905 |  | 18 |  | 19 |  | 8 |  | 1,250 |
Accumulated depreciation and impairment | (34) |  | (18) |  | (176) |  | (2) |  | (3) |  | (5) |  | (238) |
Net at 31 December 2019 | 148 |  | 101 |  | 729 |  | 15 |  | 16 |  | 3 |  | 1,012 |
(i) Restated as a result of the finalization of the purchase accounting of our acquisitions in Nicaragua and Panama (note A.1.2.).
Schedule of assets and liabilities reclassified as held for sale | The following table summarizes the nature of the assets and liabilities reported under assets held for sale and liabilities directly associated with assets held for sale as at December 31, 2020 and 2019:
| December 31,
| 2020 | 2019
| (US$ millions)
Assets and liabilities reclassified as held for sale ($ millions) |  |
Towers Colombia (see note E.4.1.) | 1 |  | 2 |
Towers El Salvador (see note E.4.1.) | — |  | 1 |
Towers Zantel | — |  | 1 |
Total assets of held for sale | 1 |  | 5 |
Total liabilities directly associated with assets held for sale | — |  | — |
Net assets held for sale / book value | 1 |  | 5 |
Schedule of assets and liabilities disposed of | The assets and liabilities deconsolidated on the date of the disposal were as follows:
Assets and liabilities held for sale ($ millions) | June 26, 2019
Intangible assets, net | 18
Property, plant and equipment, net | 89
Right of use assets | 9
Other non-current assets | 8
Current assets | 34
Cash and cash equivalents | 9
Total assets of disposal group held for sale | 168
Non-current financial liabilities | 8
Current liabilities | 131
Total liabilities of disposal group held for sale | 140
Net assets held for sale at book value | 28
Schedule of discontinued operations | Results from discontinued operations
| December 31
| 2020 | 2019 | 2018
| (US$ millions)
Revenue | — |  | 50 |  | 189 |
Cost of sales | — |  | (14) |  | (51) |
Operating expenses | (4) |  | (29) |  | (83) |
Other expenses linked to the disposal of discontinued operations | (9) |  | (10) |  | (10) |
Depreciation and amortization | — |  | (11) |  | (27) |
Other operating income (expenses), net | — |  | — |  | (9) |
Gain/(loss) on disposal of discontinued operations | — |  | 74 |  | (29) |
Operating profit (loss) | (12) |  | 61 |  | (21) |
Interest income (expense), net | — |  | (2) |  | (6) |
Other non-operating (expenses) income, net | — |  | — |  | (2) |
Profit (loss) before taxes | (12) |  | 59 |  | (29) |
Credit (charge) for taxes, net | — |  | (2) |  | (4) |
Net profit/(loss) from discontinuing operations | (12) |  | 57 |  | (33) |
Cash flows from discontinued operations
| December 31
| 2020 | 2019 | 2018
| (US$ millions)
Cash from (used in) operating activities, net | — |  | (8) |  | (38) |
Cash from (used in) investing activities, net | — |  | 5 |  | 8 |
Cash from (used in) financing activities, net | — |  | 7 |  | 11 |

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