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Long-term assets (Tables)

12 Months Ended

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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