Company: TCMFF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001104659-25-019133
Chunk: 347

Company: TELECOM ARGENTINA SA
Filing Date: 2025-02-28
Form: 20-F
Item: Item 18
Chunk 347
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 on specific estimates of the Company. The techniques used for the measurement of financial instruments, are detailed below: a) DFI for forward purchases of US dollars and RMB, corresponds to the variation between the market prices at the end of the fiscal year and the time of agreement and; b) DFI interest rate swap corresponds to the present value of estimated future cash flows based on observable yield curves obtained in the market.
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During the years ended December 31, 2024 and 2023, there were no transfers between Levels of the fair value hierarchy.

F-

TELECOM ARGENTINA S.A.

Additionally, the methods and assumptions used to estimate the fair values of each class of financial instrument are as follows:
Trade receivables and Other receivables: Carrying amounts are considered to approximate fair value due to the short term nature of these receivables. Noncurrent trade receivables have been recognized at their amortization cost, using the effective interest method and are not significant.
Trade payables and Other liabilities: The carrying amount of trade payables and other liabilities to approximates its fair value due to the short term nature of these debts. Noncurrent trade payables and other liabilities have been discounted.
Borrowings
As of December 31, 2024, fair value of borrowings is as follows:

       ​           ​         ​          ​       ​     
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​                      Carrying Value       Fair Value
​                  ​   ​                ​   ​         
Notes                  2,410,891            2,246,719 
Other borrowings       467,113              468,133   
​                      2,878,004            2,714,852 
​
As of December 31, 2023, fair value of borrowings is as follows:

       ​           ​         ​          ​       ​     
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​                      Carrying Value       Fair Value
​                  ​   ​                ​   ​         
Notes                  2,843,432            2,635,181 
Other borrowings       1,790,728            1,804,274 
​                      4,634,160            4,439,455 
​
The fair value of the loans was assessed as follows:

a)   The fair value of Notes traded in active markets was measured based on quoted market prices at the end of the reporting period. As a result, its valuation classifies as