XML 90 R18.htm IDEA: XBRL DOCUMENT v3.20.4
Introduction (Tables)
12 Months Ended
Dec. 31, 2020
Disclosure of changes in accounting policies, accounting estimates and errors [Abstract]  
Foreign exchange rates
The following table presents functional currency translation rates for the Group’s locations to the US dollar on December 31, 2020, 2019 and 2018 and the average rates for the years ended December 31, 2020, 2019 and 2018.
Exchange Rates to the US DollarFunctional Currency2020 Year-end Rate2019 Year-end RateChange %2020 Average Rate2019 Average RateChange %2018 Average Rate
BoliviaBoliviano (BOB)6.91 6.91 — 6.91 6.91 — %6.91 
ChadCFA Franc (XAF)n/an/an/an/an/an/a571 
ColombiaPeso (COP)3,432.50 3,277 4.7 %3,695 3,296 12.1 %2,973 
Costa RicaCosta Rican Colon (CRC)617.30 576 7.1 %590 588 0.3 %578 
El SalvadorUS dollarn/an/an/an/an/an/an/a
GhanaCedi (GHS)5.87 5.73 2.4 %5.75 5.33 7.9 %4.63 
GuatemalaQuetzal (GTQ)7.79 7.70 1.2 %7.73 7.71 0.3 %7.52 
HondurasLempira (HNL)24.20 24.72 (2.1)%24.65 24.59 0.2 %23.99 
LuxembourgEuro (EUR)0.82 0.89 (8.2)%0.87 0.89 (2.1)%0.85 
NicaraguaCordoba (NIO)34.82 33.84 2.9 %34.34 33.12 3.7 %31.55 
PanamaBalboa (B/.) (i)n/an/an/an/an/an/an/a
ParaguayGuarani (PYG)6,900.11 6,453 6.9 %6,758 6,232 8.4 %5,743 
SwedenKrona (SEK)8.23 9.37 (12.1)%9.16 9.43 (2.9)%8.71 
TanzaniaShilling (TZS)2,318.95 2,299 0.9 %2,312 2,304 0.3 %2,274 
United KingdomPound (GBP)0.73 0.75 (3.0)%0.77 0.78 (1.2)%0.75 
(i) the balboa is tied to the United States dollar at an exchange rate of 1:1.
Effects of implementation of new IFRS
For leases previously classified as finance leases Millicom recognized the carrying amount of the lease asset and lease liability immediately before transition as the carrying amount of the right of use asset and the lease liability at the date of initial application. The measurement principles of IFRS 16 are only applied after that date.
$ millionsJanuary 1, 2019
Operating lease commitments disclosed as at December 31, 2018801
(Plus): Non lease components obligations57
(Less): Short term leases recognized on a straight line basis as an expense(3)
(Less): Low value leases recognized on a straight line basis as an expense(2)
(Less): Contract included in the lease commitments but with starting date in 2019 and not part of the IFRS 16 opening balances(17)
(Plus/Less): Other(9)
Gross lease liabilities828
Discounted using the lessee's incremental borrowing rate at the date of the initial application(283)
Incremental lease liabilities recognized at January 1, 2019545
(Plus): Finance lease liabilities recognized at December 31, 2018353
Lease liabilities recognized at January 1, 2019898
Of which are:
Current lease liabilities86
Non-current lease liabilities812
The application of IFRS 16 affected the following items in the statement of financial position on January 1, 2019:
FINANCIAL POSITION
$ millions
As at January 1, 2019 before applicationEffect of adoption of IFRS 16As at January 1, 2019 after applicationReason for the change
ASSETS
Property, plant and equipment, net 3,071(307)2,764(i)
Right-of-use asset (non-current) NEW 856856(ii)
Prepayments 129(6)123(iii)
LIABILITIES
Lease liabilities (non-current) NEW 812812(iv)
Debt and other financing (non-current) 4,123(337)3,786(v)
Lease liabilities (current) NEW 8686(iv)
Debt and other financing (current) 458(16)442(v)
Other current liabilities492(2)490(vi)
(i)    Transfer of previously capitalized assets under finance leases to Right-of-Use assets.
(ii)    Initial recognition of Right-of-Use assets, transfer of previously recognized finance leases and of lease prepayments to the Right-of-Use asset cost at transition.
(iii)    Transfer of lease prepayments to the Right-of-Use asset cost at transition.
(iv)    Initial recognition of lease liabilities and transfer of previously recognized finance lease liabilities.
(v)    Transfer of previously recognized finance lease liabilities to new Lease liabilities accounts.
(vi)    Reclassification of provisions for onerous contracts to Right-of-Use assets.