Company: TCMFF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001104659-25-019133
Chunk: 291

Company: TELECOM ARGENTINA SA
Filing Date: 2025-02-28
Form: 20-F
Item: Item 18
Chunk 291
---
 a sale is considered highly probable. They are measured at the lower of their carrying amount and fair value less costs to sell, except for certain exceptions. 
An impairment loss is recognised for any initial or subsequent write-down of the asset to fair value less costs to sell. A gain is recognised for any subsequent increases in fair value less costs to sell of an asset, but not in excess of any cumulative impairment loss previously recognised. A gain or loss not previously recognised by the date of the sale of the noncurrent asset is recognised at the date of derecognition.
Non-current assets are not depreciated or amortised while they are classified as held for sale and are presented separately from the other assets in statements of financial position.
In June 2024, the Company classified two properties as available for sale, resulting in the reclassification of $2,157 million to the line item “Assets classified as held for sale.”

F-36

TELECOM ARGENTINA S.A.

In December 2024, the Company completed the sale and transfer of title for one of the properties, with the fair value less sales costs amounting to $1,277 million. Consequently, the Company recorded a net gain of $885 million as of December 31, 2024, which was recognized under “Other operating costs.” 
As of December 31, 2024, one property remains classified as held for sale, valued at $1,765 million. 
The Company’s Management estimates that the title of this property will be transferred before June 2025.
Sale of the property “Costanera”
In 2022, the Company entered into an agreement for the sale of the ‘Costanera’ building, which was subject to the authorization of the sale by ENACOM. The sale price amounted to US$6 million net of selling expenses. 
In October 2023, the Company signed the deed and delivered possession of the property.
Finally, considering that the carrying amount of the assets associated with the sale exceeded its recoverable value, which has been calculated based on fair value less costs of disposal (classified as level 1 in the fair value hierarchy), the Company, as of December 31, 2023 and 2022, recognized an impairment of $301 million and $12,036 million, respectively, recorded under Depreciation, Amortization and Impairment of Fixed Assets.
k)    Right of use assets and lease liabilities
Telecom maintains several contracts that fall under the definition of leases in