XML 105 R33.htm IDEA: XBRL DOCUMENT v3.20.4
The Millicom Group - A.2.2. Material Joint Ventures - Guatemala and Honduras (Details)
 12 Months Ended
Nov. 18, 2020
USD ($)
Oct. 05, 2020
USD ($)
Jun. 01, 2020
USD ($)
Sep. 19, 2019
USD ($)
Dec. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
Dec. 31, 2018
USD ($)
Oct. 05, 2020
GTQ (Q)
Jan. 01, 2019
USD ($)
Dec. 31, 2017
USD ($)
 [4]
Dec. 31, 2015
USD ($)
Disclosure of joint ventures [line items]                      
Depreciation and amortization         $ (1,208,000,000) $ (1,100,000,000) $ (803,000,000)        
Operating profit (loss)         446,000,000 575,000,000 640,000,000 [1]        
Profit (loss) before taxes from continuing operations         (271,000,000) 218,000,000 119,000,000 [1]        
Tax (charge) credit, net         (102,000,000) (120,000,000) (112,000,000) [1]        
Net profit (loss) for the period         (385,000,000) 154,000,000 (26,000,000) [2]        
Total non-current assets (excluding goodwill)         10,114,000,000 10,238,000,000 [3]          
Total non-current liabilities         7,540,000,000 7,797,000,000 [3]          
Carrying value of investment in joint venture         2,642,000,000 2,797,000,000 [3]          
Cash and cash equivalents         875,000,000 1,164,000,000 [3] 528,000,000 [4]     $ 619,000,000  
Debt and financing – non-current         5,578,000,000 5,786,000,000 [3]     $ 4,123,000,000    
Debt and financing – current         113,000,000 186,000,000 [3]     $ 458,000,000    
Net cash from operating activities         821,000,000 801,000,000 792,000,000 [4]        
Net cash from (used in) investing activities         (495,000,000) (1,502,000,000) (1,199,000,000) [4]        
Net cash from (used in) financing activities         (598,000,000) 1,355,000,000 341,000,000 [4]        
Exchange impact on cash and cash equivalents, net         (17,000,000) (8,000,000) (33,000,000) [4]        
Net (decrease) increase in cash and cash equivalents         (289,000,000) 645,000,000 (98,000,000) [4]        
Impairments/reversal of impairment, net           1,000,000          
Interest expense on borrowings         386,000,000 348,000,000 234,000,000        
Guatemala joint ventures                      
Disclosure of joint ventures [line items]                      
Revenue         1,503,000,000 1,434,000,000 1,373,000,000        
Depreciation and amortization         (323,000,000) (313,000,000) (283,000,000)        
Operating profit (loss)         452,000,000 429,000,000 387,000,000        
Financial income (expenses), net (i)         (95,000,000) (66,000,000) (56,000,000)        
Profit (loss) before taxes from continuing operations         347,000,000 356,000,000 309,000,000        
Tax (charge) credit, net         (83,000,000) (79,000,000) (69,000,000)        
Net profit (loss) for the period         264,000,000 277,000,000 240,000,000        
Results for the year         144,000,000 152,000,000 131,000,000        
Dividends and advances paid to Millicom         47,000,000 209,000,000 211,000,000        
Total non-current assets (excluding goodwill)         2,195,000,000 2,517,000,000 2,280,000,000        
Total non-current liabilities         751,000,000 1,216,000,000 981,000,000        
Total current assets         742,000,000 717,000,000 718,000,000        
Current liabilities         523,000,000 251,000,000 221,000,000        
Total net assets         $ 1,662,000,000 $ 1,767,000,000 $ 1,796,000,000        
Group's share in % 55.00%       55.00% 55.00% 55.00%        
Group's share in USD millions         $ 914,000,000 $ 972,000,000 $ 988,000,000        
Goodwill and consolidation adjustments         1,117,000,000 1,117,000,000 1,116,000,000        
Carrying value of investment in joint venture         2,031,000,000 2,089,000,000 2,104,000,000        
Cash and cash equivalents         188,000,000 189,000,000 217,000,000        
Debt and financing – non-current         619,000,000 1,152,000,000 928,000,000        
Debt and financing – current         24,000,000 21,000,000 0        
Net cash from operating activities         598,000,000 588,000,000 545,000,000        
Net cash from (used in) investing activities         (289,000,000) (205,000,000) (173,000,000)        
Net cash from (used in) financing activities         (308,000,000) (412,000,000) (455,000,000)        
Exchange impact on cash and cash equivalents, net         (2,000,000) 1,000,000 (3,000,000)        
Net (decrease) increase in cash and cash equivalents         (1,000,000) $ (28,000,000) $ (86,000,000)        
Borrowings, redemption         $ 18,000,000            
Proportion of ownership interest in joint venture 55.00%       55.00% 55.00% 55.00%        
Honduras joint ventures                      
Disclosure of joint ventures [line items]                      
Revenue         $ 552,000,000 $ 594,000,000 $ 586,000,000        
Depreciation and amortization         (132,000,000) (132,000,000) (133,000,000)        
Operating profit (loss)         77,000,000 102,000,000 91,000,000        
Financial income (expenses), net (i)         (24,000,000) (37,000,000) (29,000,000)        
Profit (loss) before taxes from continuing operations         58,000,000 60,000,000 52,000,000        
Tax (charge) credit, net         (19,000,000) (21,000,000) (18,000,000)        
Net profit (loss) for the period         39,000,000 39,000,000 34,000,000        
Results for the year         27,000,000 27,000,000 23,000,000        
Dividends and advances paid to Millicom         24,000,000 28,000,000 32,000,000        
Total non-current assets (excluding goodwill)         461,000,000 516,000,000 506,000,000        
Total non-current liabilities         533,000,000 469,000,000 386,000,000        
Total current assets         300,000,000 312,000,000 304,000,000        
Current liabilities         236,000,000 183,000,000 226,000,000        
Total net assets         $ (8,000,000) $ 176,000,000 $ 198,000,000        
Group's share in %         66.70% 66.70% 66.70%        
Group's share in USD millions         $ (5,000,000) $ 117,000,000 $ 132,000,000        
Goodwill and consolidation adjustments         615,000,000 591,000,000 598,000,000        
Carrying value of investment in joint venture         610,000,000 708,000,000 730,000,000        
Cash and cash equivalents         60,000,000 40,000,000 25,000,000        
Debt and financing – non-current         390,000,000 384,000,000 298,000,000        
Debt and financing – current         10,000,000 39,000,000 85,000,000        
Net cash from operating activities         151,000,000 169,000,000 147,000,000        
Net cash from (used in) investing activities         (145,000,000) (77,000,000) (87,000,000)        
Net cash from (used in) financing activities         14,000,000 (77,000,000) (50,000,000)        
Net (decrease) increase in cash and cash equivalents         $ 20,000,000 $ 15,000,000 $ 9,000,000        
Proportion of ownership interest in joint venture         66.70% 66.70% 66.70%        
6.875% Senior Notes | Guatemala joint ventures                      
Disclosure of joint ventures [line items]                      
Notional amount                     $ 800,000,000
Redemption price, percentage 102.292%                    
Payments To Redeem Borrowings $ 834,000,000                    
Interest expense on borrowings 16,000,000                    
Redemption premium 18,000,000                    
Redemption, interest 7,000,000                    
Unamortized deferred costs $ 8,000,000                    
Issuance price                     98.233%
Telefonica Celular, S.A. de C.V. Credit Agreement | Honduras joint ventures                      
Disclosure of joint ventures [line items]                      
Notional amount       $ 185,000,000              
Borrowings term       10 years              
Telefonica Celular, S.A. de C.V. Credit Agreement, Tranche A | Honduras joint ventures                      
Disclosure of joint ventures [line items]                      
Notional amount       $ 100,000,000              
Telefonica Celular, S.A. de C.V. Credit Agreement, Tranche B | Honduras joint ventures                      
Disclosure of joint ventures [line items]                      
Notional amount       60,000,000              
Telefonica Celular, S.A. de C.V. Credit Agreement, Tranche C | Honduras joint ventures                      
Disclosure of joint ventures [line items]                      
Notional amount       25,000,000              
Navega S.A. de C.V. | Honduras joint ventures                      
Disclosure of joint ventures [line items]                      
Notional amount       $ 20,000,000              
Borrowings term       10 years              
Scotiabank Facility March 27, 2015 | Honduras joint ventures                      
Disclosure of joint ventures [line items]                      
Notional amount       $ 250,000,000              
Banco Industrial S.A. Credit Agreement | Guatemala joint ventures                      
Disclosure of joint ventures [line items]                      
Notional amount   $ 218,000,000           Q 1,697,000,000      
Borrowings term   5 years                  
Banco Industrial S.A. Credit Agreement | Honduras joint ventures                      
Disclosure of joint ventures [line items]                      
Notional amount       $ 90,000,000              
Telefonica Celular, S.A. de C.V. Bank Loan Agreement | Honduras joint ventures                      
Disclosure of joint ventures [line items]                      
Notional amount     $ 32,000,000                
Borrowings term     10 years                
Fixed interest rate | 6.875% Senior Notes | Guatemala joint ventures                      
Disclosure of joint ventures [line items]                      
Borrowings, interest rate                     6.875%
Effective interest rate | 6.875% Senior Notes | Guatemala joint ventures                      
Disclosure of joint ventures [line items]                      
Borrowings, interest rate                     7.168%
LIBOR | Telefonica Celular, S.A. de C.V. Credit Agreement | Honduras joint ventures                      
Disclosure of joint ventures [line items]                      
Adjustment to interest rate basis       3.80%              
LIBOR | Navega S.A. de C.V. | Honduras joint ventures                      
Disclosure of joint ventures [line items]                      
Adjustment to interest rate basis       3.80%              
Floor | Telefonica Celular, S.A. de C.V. Credit Agreement | Honduras joint ventures                      
Disclosure of joint ventures [line items]                      
Borrowings, interest rate       5.25%              
Floor | Navega S.A. de C.V. | Honduras joint ventures                      
Disclosure of joint ventures [line items]                      
Borrowings, interest rate       5.25%              
[1] 2018 was not restated for the application of IFRS 16, as the Group elected the modified retrospective approach.
[2] 2018 was not restated for the application of IFRS 16, as the Group elected the modified retrospective approach.
[3] The consolidated statement of financial position at December 31, 2019 has been restated after finalization of the purchase accounting of our acquisitions in Nicaragua and Panama (note A.1.2.).
[4] 2018 was not restated for the application of IFRS 16, as the Group elected the modified retrospective approach.