Contracted concessional, PP&E and other intangible assets

9 Months Ended

Sep. 30, 2023

Contracted concessional, PP&E and other intangible assets [Abstract]

Contracted concessional, PP&E and other intangible assets

Note 6. - Contracted concessional, PP&E and other intangible assets

The Company has assets recorded as contracted concessional assets in accordance with IFRIC 12, property plant and equipment in accordance with IAS 16 and right of use assets under IFRS 16 or intangible assets under IAS 38.

The detail of assets included in the heading ‘Contracted concessional, PP&E and other intangible assets’ as of September 30, 2023, and December 31, 2022, is as follows:

	Financial assets under IFRIC 12			Financial assets under IFRS 16 (Lessor)		Intangible assets under IFRIC 12			Right of use assets under IFRS 16 (Lessee) and intangible assets under IAS 38			Property, plant and equipment under IAS 16			Total
	($ in thousands)
Cost		798,044			2,704		8,907,348			147,828			968,858			10,824,782
Amortization and impairment		(68,659	)		-		(3,320,987	)		(34,676	)		(215,045	)		(3,639,367	)
Total as of September 30, 2023		729,385			2,704		5,586,361			113,152			753,813			7,185,415

	Financial assets under IFRIC 12			Financial assets under IFRS 16 (Lessor)		Intangible assets under IFRIC 12			Right of use assets under IFRS 16 (Lessee) and intangible assets under IAS 38			Property, plant and equipment under IAS 16			Total
	($ in thousands)
Cost		818,170			2,787		8,976,243			120,307			945,475			10,862,982
Amortization and impairment		(69,557	)		-		(3,088,778	)		(26,782	)		(194,606	)		(3,379,723	)
Total as of December 31, 2022		748,613			2,787		5,887,465			93,525			780,869			7,483,259

No losses from impairment of contracted concessional, PP&E and other intangible assets, excluding the change in the provision for expected credit losses under IFRS 9, Financial instruments, were recorded during the nine-month period ended September 30, 2023. During the nine-month period ended September 30, 2022, an impairment loss of $41 million was recorded in Solana, due to the continued delays in the works and replacements that the Company was carrying out in its storage system and their impact on production in 2022, as well as an increase in the discount rate.
 

The impairment provision based on the expected credit losses on contracted concessional financial assets decreased by $1 million in the nine-month period ended September 30, 2023 (increase of $27 million in the nine-month period ended September 30, 2022, primarily in ACT).