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Long-term assets (Tables)

12 Months Ended

Dec. 31, 2024

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 2024

			Goodwill			Licenses and Spectrum			Customer Lists			IRUs			Trademarks			Other (i)			Total
			(US$ millions)
Opening balance, net			4,107			1,558			769			33			910			408			7,785
Change in scope (see note A.2.2.)			—			114			—			—			—			—			114
Additions			—			123			—			1			—			97			221
Amortization charge			—			(81)			(92)			(9)			—			(138)			(319)
Impairment (ii)			—			(3)			—			—			—			(5)			(8)
Disposals, net			—			2			—			—			—			(1)			1
Asset retirement obligation			—			1			—			—			—			—			1
Transfers			—			4			—			3			—			24			30
Transfer to/from held for sale (see note E.4)			—			(861)			—			—			—			(9)			(870)
Exchange rate movements			(13)			(19)			2			(2)			2			(16)			(47)
Closing balance, net			4,094			840			679			25			912			359			6,908
Cost or valuation			4,094			1,594			1,211			169			1,240			1,302			9,611
Accumulated amortization and impairment			—			(755)			(533)			(144)			(329)			(943)			(2,703)
Net			4,094			840			679			25			912			359			6,908

Movements in intangible assets in 2023

			Goodwill			Licenses and Spectrum			Customer Lists			IRUs			Trademarks			Other (i)			Total
			(US$ millions)
Opening balance, net			4,059			1,094			864			40			910			394			7,361
Additions			—			406			—			1			—			115			522
Amortization charge			—			(116)			(96)			(12)			—			(137)			(361)
Impairment			—			—			—			—			—			(1)			(1)
Transfers			—			4			—			1			—			11			16
Exchange rate movements			48			171			1			4			—			26			249
Closing balance, net			4,107			1,558			769			33			910			408			7,785
Cost or valuation			4,107			2,407			1,206			178			1,243			1,275			10,416
Accumulated amortization and impairment			—			(849)			(437)			(145)			(333)			(867)			(2,631)
Net			4,107			1,558			769			33			910			408			7,785

(i)    Other includes mainly software costs.

(ii)         During the year ended December 31, 2024, Millicom decommissioned an IT software and as a result recorded $7 million under operating expenses as impairment charges.

Cash used for purchases of long-term assets

Cash used for intangible asset additions

			2024			2023			2022
			(US$ millions)
Additions			98			116			156
Change in advances to suppliers			(2)			(3)			1
Change in accruals and payables for intangibles			(2)			21			21
Cash used for additions			94			133			179

Cash used for property, plant and equipment

			2024			2023			2022
			(US$ millions)
Additions			579			694			823
Change in advances to suppliers			(2)			3			(3)
Change in accruals and payables for property, plant and equipment			(37)			116			(20)
Cash used			540			814			800

Allocation of goodwill to cash generating units

Allocation of Goodwill to cash generating units (CGUs)

			2024			2023
			(US$ millions)
Guatemala (see note A.1.2.)			2,477			2,470
Panama			907			907
El Salvador			194			194
Costa Rica			139			135
Paraguay			41			44
Colombia			135			155
Nicaragua			197			197
Bolivia			3			3
Total			4,094			4,107

Allocation of indefinite useful life trademarks to cash generating units (CGUs)

			2024			2023
			(US$ millions)
Guatemala			912			910
Total			912			910

The most significant estimates used for the 2024 and 2023 impairment test are shown below:

CGU			Average EBITDA margin (%) (i)						Average CAPEX intensity (%) (i)						Perpetual growth rate (%)						WACC rate after tax (%) (ii)
			2024			2023			2024			2023			2024			2023			2024			2023
Bolivia			46.9			41.3			14.8			13.6			1.0			1.0			22.9			15.4
Colombia			41.4			39.6			11.2			12.3			2.0			2.0			8.9			10.7
Guatemala			55.9			53.3			8.3			11.3			1.0			1.0			8.7			9.7
Costa Rica			37.7			39.8			16.4			16.2			—			2.0			8.2			10.1
El Salvador			47.8			41.7			11.9			13.6			1.0			1.0			10.2			12.1
Nicaragua			50.5			47.5			15.1			13.8			2.0			3.0			15.3			15.5
Panamá			51.0			46.5			10.9			13.1			1.0			1.0			9.4			8.9
Paraguay			50.8			46.8			12.9			14.5			—			1.0			8.6			9.8

    

(i) Average is computed over the period covered by the plan.

(ii) Millicom uses post-tax rate for the impairment-test, the difference with the pre-tax not resulting in different conclusions.

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			2024			2023
WACC rates			+/- 2			+/-2
Perpetual growth rates			+/-1			+/-1
Operating variables
EBITDA margin			+/-3			+/-2
CAPEX intensity			+/-1			+/-1

At December 31, 2024 and at December 31, 2023, the sensitivity analysis shows no impairment under the above mentioned changes in assumptions for all CGUs, except for 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 for the Nicaragua CGU in the years ended December 31, 2024 and December 31, 2023 .

			2024			2023
Change required for carrying value to equal recoverable amount			CGU			CGU
			Nicaragua			Nicaragua
Financial variables
WACC rate			+109bps			+154bps
Perpetual growth rates			n/a			n/a
Operating variables
Average EBITDA margin			(1.95)%			n/a
CAPEX intensity			n/a			n/a

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 25 years
Other			2 to 10 years

Movements in tangible assets in 2024

			Network Equipment			Land and Buildings			Construction in Progress			Other(i)			Total
			(US$ millions)
Opening balance, net			2,507			162			394			44			3,107
Change in scope (see note A.2.2.)			114			—			1			—			115
Additions			118			23			433			5			579
Disposals, net			(11)			—			(5)			—			(16)
Depreciation charge			(671)			(16)			—			(23)			(710)
Asset retirement obligations			23			4			—			—			27
Transfers			404			5			(445)			9			(26)
Transfer from/(to) assets held for sale (see note E.4)			(122)			—			—			—			(122)
Exchange rate movements			(90)			(8)			(8)			—			(107)
Closing balance, net			2,271			171			370			35			2,847
Cost or valuation			8,767			328			370			338			9,803
Accumulated depreciation and impairment			(6,496)			(157)			—			(303)			(6,956)
Net at December 31, 2024			2,271			171			370			35			2,847

Movements in tangible assets in 2023

			Network equipment			Land and buildings			Construction in progress			Other(i)			Total
			(US$ millions)
Opening balance, net			2,340			180			418			50			2,989
Additions			161			2			525			5			693
Impairments/reversal of impairment, net			(2)			—			—			—			(2)
Disposals, net			(16)			—			(3)			—			(20)
Depreciation charge			(751)			(19)			—			(25)			(794)
Asset retirement obligations			29			1			—			—			30
Transfers			566			(2)			(570)			13			6
Exchange rate movements			165			13			24			1			203
Other			14			(12)			—			—			2
Closing balance, net			2,507			162			394			44			3,107
Cost or valuation			8,924			310			394			352			9,980
Accumulated depreciation and impairment			(6,417)			(148)			—			(307)			(6,873)
Net at December 31, 2023			2,507			162			394			44			3,107

(i)    Other mainly includes office equipment and motor vehicles.

Disclosure of movement in right of use assets

Movements in right of use assets in 2024

Right-of-use assets			Land and buildings			Sites rental			Tower rental			Capacity			Other network equipment			Other			Total
			(US$ millions)
Opening balance, net			130			177			537			27			16			9			896
Additions			13			5			99			8			—			1			126
Modifications			13			50			59			—			1			2			125
Impairment			(1)			—			(3)			—			—			—			(4)
Disposals			(9)			(18)			(8)			—			—			(3)			(39)
Depreciation			(36)			(47)			(109)			(6)			(2)			(3)			(204)
Asset retirement obligations			—			—			1			—			—			—			1
Transfers			—			—			1			—			(1)			—			—
Transfer from/(to) assets held for sale (see note E.4)			—			(2)			(74)			—			—			—			(76)
Exchange rate movements			(9)			—			(25)			—			—			—			(34)
Closing balance, net			101			164			477			29			14			6			792
Cost of valuation			233			385			785			54			24			15			1,497
Accumulated depreciation and impairment			(132)			(220)			(308)			(26)			(10)			(9)			(705)
Net at 31 December 2024			101			164			477			29			14			6			792

Movements in right of use assets in 2023

Right-of-use assets			Land and buildings			Sites rental			Tower rental			Capacity			Other network equipment			Other			Total
			(US$ millions)
Opening balance, net			142			181			505			28			16			13			884
Additions			4			10			42			7			—			1			63
Modifications			6			27			51			1			2			—			87
Disposals			(1)			(2)			(1)			—			—			—			(5)
Depreciation			(38)			(45)			(90)			(6)			(1)			(3)			(183)
Asset retirement obligations			—			(1)			(2)			—			—			—			(3)
Transfers			1			7			2			(2)			(2)			(1)			4
Exchange rate movements			16			2			31			—			—			—			50
Other			—			(2)			—			—			—			—			(2)
Closing balance, net			130			177			537			27			16			9			896
Cost of valuation			280			369			929			47			26			21			1,671
Accumulated depreciation and impairment			(150)			(192)			(392)			(19)			(10)			(12)			(776)
Net at 31 December 2023			130			177			537			27			16			9			896

Disclosure of assets held for sale

Assets held for sale - Summary

Assets and liabilities reclassified as held for sale (In millions of U.S. dollars)			December 31, 2024
Towers sale in Colombia related to the third batch			1
Mobile network sharing agreement in Colombia			613
Towers sale (including certain lease transfers) in Nicaragua			13
Total assets of held for sale			627
Towers sale in Colombia related to the third batch			1
Mobile network sharing agreement in Colombia			698
Towers sale (including certain lease transfers) in Nicaragua			10
Total liabilities directly associated with assets held for sale			709
Net assets held for sale / book value			(83)

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