CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
OPERADORA DE SITES MEXICANOS, S.A.B. DE C.V. AND SUBSIDIARIES
42
42
Property, Plant and Equipment: Proceeds before Intended Use - Amendments to IAS 16 Leases
The amendment prohibits entities from deducting from the cost of an item of property, plant and equipment, any proceeds of the sale of items produced while bringing that asset
to the location and condition necessary for it to be capable of operating in the manner intended by management. Instead, an entity recognizes the proceeds from selling such
items, and the costs of producing those items, in profit or loss. In accordance with the transitional provisions, the Company applies the amendments retrospectively only to items
of property, plant and equipment made available for use on or after the beginning of the earliest period presented when the entity first applies the amendment (the date of initial
application). These amendments had no impact on the consolidated financial statements of the Company as there were no sales of such items produced by property, plant and
equipment made available for use on or after the beginning of the earliest period presented.
4. CASH AND CASH EQUIVALENTS
An analysis of cash and cash equivalents as at 31 December 2022 and 2021 is as follows:
Cash
Banks
Readily marketable securities
2022
2021
Ps.
5
Ps.
Ps.
65,676
4,822,625
4,888,306
Ps.
5
94,186
5,592,101
5,686,292
5. ACCOUNTS RECEIVABLE
With regard to the bankruptcy proceeding filed by Altán Redes, S.A.P.I. de C.V., on 28 October 2022, the First District Judge in bankruptcy matters, residing in Mexico City and with
jurisdiction throughout the country, issued a ruling approving the Bankruptcy Agreement dated 13 October 2022 filed by the bankruptcy mediator on 14 October 2022.
With respect to the Bankruptcy Agreement, the Company, in its capacity of creditor, did not grant any reduction to Altán Redes, S.A.P.I. de C.V., and the interest accrued on the
recognized debt will be capitalized during the term of the agreement at the 28-day Mexican Weighted Interbank Interest Rate (TIIE, by its acronym in Spanish). The loan matures on
31 December 2056; however, the debtor can make prepayments if they have available cash flows and have settled all other debt balances with priority of payment.
As at 31 December, the long-term account receivable amounted to Ps. 413,694.
On 9 May 2022, the Company entered into an amending agreement to the commercial agreement entered on 29 May 2019 with Altán, whereby the latter was required to pay the
outstanding debt balances accrued since December 2020. For purposes of this agreement, a discount of 17% was applied to the rental price for tower space, in accordance with
the following:
•
•
.
The contractual commitment for each tower will be for terms of ten years.
A 17% discount is to be applied through the issuance of credit memos, solely and exclusively on the rental price for the approved tower space, for the first 3 years from 17
November 2021 to 16 November 2024, with a payment period of 180 calendar days from the issuance of the invoice, which shall be issued within the corresponding month.
At the end of the 3-year period beginning on 17 November 2024, Altán shall have a period of 90 calendar days from the issuance of the invoice to make the payment.
Should Altán fail to make any payment for the services to be rendered, there will be no grace period.View entire presentation