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Long-term assets (Tables)

12 Months Ended

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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