CASH AND CASH EQUIVALENTS, AND SHORT AND LONG-TERM INVESTMENTS

12 Months Ended

Dec. 31, 2019

CASH AND CASH EQUIVALENTS, AND SHORT AND LONG-TERM INVESTMENTS

CASH AND CASH EQUIVALENTS, AND SHORT AND LONG-TERM INVESTMENTS

NOTE 4 — CASH AND CASH EQUIVALENTS, AND SHORT AND LONG-TERM INVESTMENTS

	2019	2018
Cash	12,302	6,800
Banks and immediately available investments	2,629,350	2,883,344
Cash and cash equivalents	2,641,652	2,890,144

	2019	2018
Short-term investments	3,652,949	459,470

Immediately available investments include investments with maturity up to 90 days, immediate liquidity and low risk of fair value variation.

Short-term investments include Bank Deposit Certificates and marketable securities, which are stated at their fair value. Income generated by these investments is recorded as financial income.