Contracted concessional assets

6 Months Ended

Jun. 30, 2022

Contracted concessional assets [Abstract]

Note 6. - Contracted concessional assets

Contracted concessional assets correspond to the assets of the Company recorded as intangible or financial assets in accordance with IFRIC 12, property plant and equipment in accordance with IAS 16, intangible assets in accordance with IAS 38 and financial asset in accordance with IFRS 16.

The detail of contracted concessional assets included in the heading ‘Contracted concessional assets’ as of June 30, 2022 and December 31, 2021 is as follows:

	Financial assets under IFRIC 12			Financial assets under IFRS 16		Intangible assets under IFRIC 12			Intangible assets under IFRS 16 (Lessee)			Property, plant and equipment under IAS 16 and other intangible assets under IAS 38			Balance as of June 30, 2022
	($ in thousands)
Contracted concessional assets cost		841,790			3,023		8,881,929			89,067			930,800			10,746,609
Amortization and impairment		(75,440	)		-		(2,846,410	)		(15,322	)		(164,485	)		(3,101,657	)
Total		766,350			3,023		6,035,519			73,745			766,315			7,644,952

	Financial assets under IFRIC 12			Financial assets under IFRS 16		Intangible assets under IFRIC 12			Intangible assets under IFRS 16 (Lessee)			Property, plant and equipment under IAS 16 and other intangible assets under IAS 38			Balance as of December 31, 2021
	($ in thousands)
Contracted concessional assets cost		874,525			2,843		9,202,539			82,818			856,410			11,019,135
Amortization and impairment		(62,889	)		-		(2,769,345	)		(14,105	)		(151,228	)		(2,997,567	)
Total		811,636			2,843		6,433,194			68,713			705,182			8,021,568

The decrease in the contracted concessional assets cost is primarily due to the lower value of the Euro denominated assets since the exchange rate of the Euro decreased against the U.S. dollar since December 31, 2021.

No losses from impairment of contracted concessional assets, excluding the change in the provision for expected credit losses under IFRS 9, Financial instruments, were recorded during the six-month periods ended June 30, 2022 and 2021. The impairment provision based on the expected credit losses on contracted concessional financial assets increased by $13 million in the six-month period ended June 30, 2022 (decrease of $20 million in the six-month period ended June 30, 2021), primarily in ACT.