CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
OPERADORA DE SITES MEXICANOS, S.A.B. DE C.V. AND SUBSIDIARIES
Surplus on issue of real estate structured notes
On 20 April 2021, the Company contributed assets and liabilities, comprised of 2,800 towers, distributed across Mexico's 32 states, to Irrevocable Trust 4594 (Banco Actinver, S.A.,
Institución de Banca Múltiple Grupo Financiero Actinver) (the Trust). In exchange for its contribution, Opsimex received a 72.5% interest in the Trust, while the remaining 27.5%
was distributed among public investors.
An analysis of the effects of the assets and liabilities transferred as of the above-mentioned dates is as follows:
Passive infrastructure contribution to the Trust (2021):
Beginning balance of surplus on issue of real estate structured notes
2,800 sites
Fair value of real estate structured notes received
Amounts
Ps.
20,015,684
(1,194,708)
10,640,000
Ps.
29,460,976
Other movements
Deferred income tax from sale of structured notes
Disposal of leases under IFRS 16
Surplus on issue of real estate structured notes as at 31 December 2021
Remaining value of 2,800 sites
Surplus on issue of real estate structured notes as at 31 December 2022
Ps.
(2,943,864)
118,809
Ps.
26,635,921
Ps.
(24,091)
26,611,830
These transactions amounted a surplus on issue of real estate structured notes of Ps. 26,611,830 and Ps. 26,635,921, as at 31 December 2022 and 2021, respectively, which was
recognized in equity.
The assets and liabilities transferred include right-of-use assets and lease liabilities of Ps. 1,891,476 and Ps. 2,010,285, respectively, in 2021. As of the above-mentioned date,
these amounts were recognized in accordance with IFRS 16 Leases, as part of the Trust and remeasured in accordance with the (current/non-current) terms established in the
agreements as of that date.
In accordance with IFRS 16, the lessee shall recognize the full termination of the lease in profit or loss at the net carrying amount of the right-of-use assets and lease liabilities at the
termination date. Notwithstanding the foregoing, these balances were transferred to the Trust and therefore, were recognized in the consolidated financial statements. Accordingly,
they do not constitute a full termination of the lease agreements, but a continuation of the original leases in these consolidated financial statements.
In order to reflect the economic substance rather than the legal form of the lease agreements transferred, the net profit of Ps. 118,809 as at 31 December 2021 mentioned above
is presented as part of the Surplus on issue of real estate structured notes caption in the consolidated financial statements.
The Trust is primarily engaged in the acquisition or construction of eligible assets in Mexico intended to (i) be leased or commercially exploited by granting access to and sharing
the passive infrastructure to be used, operated and exploited as a location for active and passive infrastructure, (ii) to acquire the right to receive income from the leasing of these
eligible assets or from the rendering of the service, and (iii) to provide financing for these purposes secured by the eligible assets, provided that such financing is performed directly
by the Trust or trusts in accordance with the tax provisions related to Infrastructure and real estate trusts (FIBRA, by its acronym in Spanish).
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