Intangible Assets

12 Months Ended

Dec. 31, 2022

7.	INTANGIBLE ASSETS


	2022		2021		2020
Net book value of intangible assets		424		462		490
Provision for impairment of intangible assets		(40)		(43)		(25)

		384		419		465

The evolution of the Group’s intangible assets for the years ended December 31, 2022, 2021 and 2020 is as follows:


	Service concessions		Exploration rights		Other intangibles		Total
Cost		869		279		406		1,554
Accumulated amortization		574		-		351		925

Balance as of December 31, 2019		295		279		55		629


Cost
Increases		14		9		10		33
Translation effect		-		-		(14)		(14)
Adjustment for inflation (1)		-		-		13		13
Decreases, reclassifications and other movements		-		(128)		5		(123)

Accumulated amortization
Increases		37		-		11		48
Translation effect		-		-		(3)		(3)
Adjustment for inflation (1)		-		-		3		3
Decreases, reclassifications and other movements		-		-		-		-

Cost		883		160		420		1,463
Accumulated amortization		611		-		362		973

Balance as of December 31, 2020		272		160		58		490


Cost
Increases		25		-		7		32
Translation effect		-		-		(3)		(3)
Adjustment for inflation (1)		-		-		19		19
Decreases, reclassifications and other movements		-		(24)		3		(21)

Accumulated amortization
Increases		37		-		14		51
Translation effect		-		-		(1)		(1)
Adjustment for inflation (1)		-		-		5		5
Decreases, reclassifications and other movements		-		-		-		-

Cost		908		136		446		1,490
Accumulated amortization		648		-		380		1,028

Balance as of December 31, 2021		260		136		66		462


Cost
Increases		25		-		4		29
Translation effect		-		-		(32)		(32)
Adjustment for inflation (1)		-		-		35		35
Decreases, reclassifications and other movements		-		(26)		-		(26)

Accumulated amortization
Increases		27		-		16		43
Translation effect		-		-		(10)		(10)
Adjustment for inflation (1)		-		-		11		11
Decreases, reclassifications and other movements		-		-		-		-

Cost		933		110		453		1,496
Accumulated amortization		675		-		397		1,072

Balance as of December 31, 2022		258		110		56		424

(1)	Corresponds to adjustment for inflation of opening balances of intangible assets in subsidiaries with the Peso as functional currency which was charged to other comprehensive income.

Set forth below is the evolution of the provision for impairment of intangible assets for the years ended December 31, 2022, 2021 and 2020:


	2022		2021		2020
Amount at beginning of year		43		25		7
Increase charged to profit or loss		-		18		18
Adjustment for inflation (1)		-		-		2
Translation differences		(3)		-		(2)

Amount at end of year		40		43		25

(1)	Corresponds to adjustment for inflation of opening balances of the provision for impairment of intangible assets in subsidiaries with the Peso as functional currency which was charged to other comprehensive income.