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Long-term assets (Tables) | 12 Months Ended
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Dec. 31, 2022
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 2022
| Goodwill | Licenses | Customer Lists | IRUs | Trademark | Other (i) | Total
| (US$ millions)
Opening balance, net | 4,098 |  | 1,120 |  | 970 |  | 71 |  | 920 |  | 379 |  | 7,558 |
Additions | — |  | 195 |  | — |  | 1 |  | — |  | 150 |  | 345 |
Amortization charge | — |  | (96) |  | (106) |  | (14) |  | (1) |  | (130) |  | (345) |
Impairment (ii) | — |  | — |  | — |  | — |  | — |  | (6) |  | (6) |
Disposals, net | — |  | (9) |  | — |  | — |  | — |  | — |  | (9) |
Transfer to/from held for sale | (12) |  | (18) |  | — |  | (17) |  | (10) |  | (2) |  | (57) |
Transfers | — |  | (7) |  | — |  | 3 |  | — |  | 28 |  | 24 |
Exchange rate movements | (26) |  | (91) |  | — |  | (4) |  | — |  | (25) |  | (147) |
Closing balance, net | 4,059 |  | 1,094 |  | 864 |  | 40 |  | 910 |  | 394 |  | 7,361 |
Cost or valuation | 4,059 |  | 1,786 |  | 1,199 |  | 158 |  | 1,237 |  | 1,133 |  | 9,573 |
Accumulated amortization and impairment | — |  | (692) |  | (335) |  | (118) |  | (327) |  | (740) |  | (2,212) |
Net | 4,059 |  | 1,094 |  | 864 |  | 40 |  | 910 |  | 394 |  | 7,361 |
Movements in intangible assets in 2021
| Goodwill | Licenses | Customer Lists | IRUs | Trademark | Other (i) | Total
| (US$ millions)
Opening balance, net | 1,659 |  | 870 |  | 423 |  | 86 |  | 77 |  | 289 |  | 3,403 |
Change in scope (see note A.1.2.) | 2,472 |  | 370 |  | 605 |  | 2 |  | 910 |  | 25 |  | 4,384 |
Additions | — |  | 29 |  | — |  | — |  | — |  | 135 |  | 164 |
Amortization charge | — |  | (82) |  | (56) |  | (14) |  | (67) |  | (100) |  | (320) |
Impairment | — |  | — |  | — |  | — |  | — |  | (1) |  | (1) |
Disposals, net | — |  | — |  | — |  | — |  | — |  | (1) |  | (1) |
Transfers | — |  | — |  | — |  | 2 |  | 1 |  | 46 |  | 49 |
Exchange rate movements | (33) |  | (67) |  | (1) |  | (5) |  | — |  | (15) |  | (121) |
Closing balance, net | 4,098 |  | 1,120 |  | 970 |  | 71 |  | 920 |  | 379 |  | 7,558 |
Cost or valuation | 4,098 |  | 1,778 |  | 1,209 |  | 206 |  | 1,251 |  | 1,059 |  | 9,602 |
Accumulated amortization and impairment | — |  | (658) |  | (239) |  | (135) |  | (331) |  | (681) |  | (2,044) |
Net | 4,098 |  | 1,120 |  | 970 |  | 71 |  | 920 |  | 379 |  | 7,558 |
(i) Other includes mainly software costs (ii) During the year ended December 31, 2022, Millicom early terminated an IT software contract and also decommissioned the existing software. As a result, Millicom recorded a settlement provision of $7 million under operating expenses and recorded a decommissioning cost of this software for a total amount of $12 million, as accelerated amortization and impairment charges.
Cash used for purchases of long-term assets | Cash used for intangible asset additions
| 2022 | 2021 | 2020
| (US$ millions)
Additions | 258 |  | 127 |  | 419 |
Change in accruals and payables for intangibles | (79) |  | (29) |  | (315) |
Cash used for additions | 179 |  | 98 |  | 101 |
Cash used for property, plant and equipment
| 2022 | 2021 | 2020
| (US$ millions)
Additions | 823 |  | 787 |  | 649 |
Change in advances to suppliers | (3) |  | (6) |  | (4) |
Change in accruals and payables for property, plant and equipment | (20) |  | (40) |  | (22) |
Other | — |  | (1) |  | (1) |
Cash used | 800 |  | 740 |  | 622 |
Allocation of goodwill to cash generating units | Allocation of Goodwill to cash generating units (CGUs)
| 2022 | 2021
| (US$ millions)
Guatemala (see note A.1.2.) | 2,470 |  | 2,472 |
Panama | 907 |  | 907 |
El Salvador | 194 |  | 194 |
Costa Rica | 118 |  | 110 |
Paraguay | 44 |  | 47 |
Colombia | 123 |  | 149 |
Tanzania | — |  | 12 |
Nicaragua | 199 |  | 203 |
Bolivia | 3 |  | 3 |
Total | 4,059 |  | 4,098 |
Allocation of indefinite useful life trademarks to cash generating units (CGUs)
| 2022 | 2021
| (US$ millions)
Guatemala | 910 |  | 910 |
Tanzania | — |  | 10 |
Total | 910 |  | 920 |
The most significant estimates used for the 2022 and 2021 impairment test are shown below:
CGU | Average EBITDA margin (%) (i) | Average CAPEX intensity (%) (i) | Perpetual growth rate (%) | WACC rate after tax (%)
| 2022 | 2021 | 2022 | 2021 | 2022 | 2021 | 2022 | 2021
Bolivia | 41.2 | 42.7 | 15.2 | 16.6 | 1.0 | 1.0 | 9.8 | 11.6
Colombia | 36.0 | 36.1 | 17.2 | 17.4 | 2.0 | 2.0 | 11.4 | 8.9
Guatemala | 51.2 | 54.7 | 11.6 | 12.3 | 1.0 | 1.0 | 10.1 | 8.4
Costa Rica | 37.5 | 35.5 | 15.5 | 15.1 | 2.0 | 2.0 | 11.8 | 11.1
El Salvador | 41.0 | 39.3 | 13.0 | 12.9 | 1.0 | 1.0 | 14.1 | 14.7
Nicaragua | 46.8 | 45.9 | 14.5 | 16.0 | 2.5 | 3.0 | 15.0 | 12.5
Panamá | 46.9 | 47.0 | 14.9 | 17.2 | 1.0 | 1.0 | 8.8 | 7.0
Paraguay | 44.5 | 42.6 | 14.9 | 15.4 | 1.0 | 1.0 | 10.0 | 8.3
Tanzania | n/a | 38.0 | n/a | 12.5 | n/a | 1.0 | n/a | 13.2
(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 | 2022 | 2021
WACC rates | +/- 2 | +/-1
Perpetual growth rates | +/-1 | +/-1
Operating variables |  |
EBITDA margin | +/-2 | +/-2
CAPEX intensity | +/-1 | +/-1
At December 31, 2022, the sensitivity analysis shows a comfortable headroom between the recoverable amounts and the carrying values for all CGUs, except for Colombia and Nicaragua. If the assumptions used in the impairment test were changed to a greater extent than as presented in the following table, the changes would, in isolation, trigger a potential impairment loss being recognised in the year ended December 31, 2022.
Change required for carrying value to equal recoverable amount | CGU
| Colombia | Nicaragua
Financial variables |  |
WACC rate | +82bps | +117bps
Perpetual growth rates | n/a | n/a
Operating variables |  |
Average EBITDA margin | -107bps | n/a
CAPEX intensity | +13bps | n/a
At December 31, 2021the sensitivity analysis shows a comfortable headroom between the recoverable amounts and the carrying values for all CGUs.
Schedule of property, plant and equipment and movements in tangible assets |
Estimated useful lives | Duration
Buildings | Up to 40 years
Networks (including civil works) | 5 to 15 years
Other | 2 to 7 years
Movements in tangible assets in 2022
| Network Equipment | Land and Buildings | Construction in Progress | Other(i) | Total
| (US$ millions)
Opening balance, net | 2,691 |  | 200 |  | 428 |  | 63 |  | 3,382 |
Additions | 157 |  | 3 |  | 655 |  | 9 |  | 823 |
Impairments/reversal of impairment, net | — |  | — |  | — |  | 1 |  | — |
Disposals, net | (16) |  | (5) |  | (8) |  | — |  | (29) |
Depreciation charge | (791) |  | (21) |  | — |  | (28) |  | (840) |
Asset retirement obligations | 17 |  | — |  | — |  | — |  | 18 |
Transfers | 577 |  | 22 |  | (632) |  | 12 |  | (21) |
Transfer from/(to) assets held for sale (see note E.4) | (141) |  | (6) |  | (13) |  | (6) |  | (166) |
Exchange rate movements | (153) |  | (12) |  | (11) |  | (2) |  | (178) |
Closing balance, net | 2,340 |  | 180 |  | 418 |  | 50 |  | 2,989 |
Cost or valuation | 8,071 |  | 348 |  | 418 |  | 345 |  | 9,183 |
Accumulated depreciation and impairment | (5,731) |  | (168) |  | — |  | (296) |  | (6,194) |
Net at December 31, 2022 | 2,340 |  | 180 |  | 418 |  | 50 |  | 2,989 |
Movements in tangible assets in 2021
| Network equipment | Land and buildings | Construction in progress | Other(i) | Total
| (US$ millions)
Opening balance, net | 2,175 |  | 185 |  | 308 |  | 87 |  | 2,755 |
Change in Scope (see note A.1.2.) | 657 |  | 35 |  | 29 |  | 6 |  | 727 |
Additions | 30 |  | — |  | 752 |  | 4 |  | 787 |
Impairments/reversal of impairment, net | — |  | — |  | (3) |  | (1) |  | (4) |
Disposals, net | (10) |  | — |  | (4) |  | — |  | (14) |
Depreciation charge | (651) |  | (16) |  | — |  | (73) |  | (739) |
Asset retirement obligations | 31 |  | 1 |  | — |  | — |  | 32 |
Transfers | 572 |  | 5 |  | (646) |  | 41 |  | (28) |
Exchange rate movements | (114) |  | (10) |  | (7) |  | (2) |  | (133) |
Closing balance, net | 2,691 |  | 200 |  | 428 |  | 63 |  | 3,382 |
Cost or valuation | 8,512 |  | 358 |  | 428 |  | 385 |  | 9,683 |
Accumulated depreciation and impairment | (5,821) |  | (158) |  | — |  | (322) |  | (6,301) |
Net at December 31, 2021 | 2,691 |  | 200 |  | 428 |  | 63 |  | 3,382 |
(i) Other mainly includes office equipment and motor vehicles.
Disclosure of movement in right of use assets | Movements in right of use assets in 2022
Right-of-use assets | Land and buildings | Sites rental | Tower rental | Other network equipment | Capacity | Other | Total
| (US$ millions) |  |  |
Opening balance, net | 169 |  | 201 |  | 587 |  | 25 |  | 29 |  | 13 |  | 1,024 |
Additions | 23 |  | 23 |  | 77 |  | 2 |  | — |  | 2 |  | 127 |
Modifications | 11 |  | 18 |  | 104 |  | 1 |  | — |  | 1 |  | 135 |
Impairments | (1) |  | — |  | — |  | — |  | — |  | — |  | (1) |
Disposals | (3) |  | (1) |  | (5) |  | — |  | — |  | — |  | (9) |
Depreciation | (38) |  | (42) |  | (83) |  | (4) |  | (5) |  | — |  | (173) |
Asset retirement obligations | — |  | 2 |  | — |  | 1 |  | — |  | — |  | 3 |
Transfer to/from held for sale | (3) |  | (2) |  | (158) |  | — |  | — |  | — |  | (163) |
Transfers | — |  | (14) |  | 17 |  | (7) |  | 3 |  | — |  | (2) |
Exchange rate movements | (16) |  | (4) |  | (34) |  | — |  | — |  | — |  | (54) |
Closing balance, net | 142 |  | 181 |  | 505 |  | 16 |  | 28 |  | 13 |  | 884 |
Cost of valuation | 249 |  | 325 |  | 780 |  | 28 |  | 39 |  | 22 |  | 1,442 |
Accumulated depreciation and impairment | (107) |  | (144) |  | (275) |  | (11) |  | (11) |  | (9) |  | (558) |
Net at 31 December 2022 | 142 |  | 181 |  | 505 |  | 16 |  | 28 |  | 13 |  | 884 |
Apart from the impact of the disposal of our operations in Tanzania, there have been no unusual significant events affecting lease liabilities (and right-of-use assets) during the year ended December 31, 2022. Movements in right of use assets in 2021
Right-of-use assets | Land and buildings | Sites rental | Tower rental | Capacity | Other network equipment | Other | Total
| (US$ millions) |  |  |
Opening balance, net | 147 |  | 93 |  | 607 |  | 14 |  | 31 |  | 2 |  | 895 |
Change in scope | 16 |  | 107 |  | 48 |  | 17 |  | 3 |  | 13 |  | 204 |
Additions | 37 |  | 14 |  | 53 |  | — |  | — |  | 1 |  | 106 |
Modifications | 14 |  | 8 |  | 3 |  | — |  | 1 |  | (1) |  | 25 |
Impairments | (1) |  | — |  | — |  | — |  | — |  | — |  | (1) |
Disposals | (2) |  | (2) |  | (2) |  | — |  | (1) |  | — |  | (7) |
Depreciation | (36) |  | (22) |  | (81) |  | (1) |  | (4) |  | (2) |  | (145) |
Asset retirement obligations | 1 |  | — |  | — |  | — |  | — |  | — |  | — |
Transfers | — |  | 4 |  | (17) |  | (1) |  | (5) |  | — |  | (18) |
Exchange rate movements | (9) |  | (1) |  | (24) |  | — |  | — |  | — |  | (34) |
Closing balance, net | 169 |  | 201 |  | 587 |  | 29 |  | 25 |  | 13 |  | 1,024 |
Cost of valuation | 254 |  | 317 |  | 908 |  | 34 |  | 40 |  | 21 |  | 1,573 |
Accumulated depreciation and impairment | (85) |  | (116) |  | (320) |  | (5) |  | (14) |  | (8) |  | (549) |
Net at 31 December 2021 | 169 |  | 201 |  | 587 |  | 29 |  | 25 |  | 13 |  | 1,024 |

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