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DERIVATIVE FINANCIAL INSTRUMENTS (Tables)
 12 Months Ended
Dec. 31, 2019
Disclosure of detailed information about financial instruments [abstract]  
Disclosure of detailed information about hedging instruments
Changes in fair value of derivative instruments designated as cash flow hedges for each of the years presented are included below:
 
Cash flow hedges
 
Gross amount
 
Income tax
 
Total
 
 
 
 
 
 
At December 31, 2017
810

 
(129
)
 
681

 
 
 
 
 
 
(Decrease) / Increase
(14
)
 
(108
)
 
(122
)
Reclassification to income statement
(117
)
 
35

 
(82
)
 
 
 
 
 
 
At December 31, 2018
679

 
(202
)
 
477

 
 
 
 
 
 
(Decrease) / Increase
(475
)
 
142

 
(333
)
Reclassification to income statement
(276
)
 
83

 
(193
)
 
 
 
 
 
 
At December 31, 2019
(72
)
 
23

 
(49
)
The net fair values of derivative financial instruments at December 31, 2019 and 2018 were as follows:
 
As of December 31,
 
2019
 
2018
 
 
 
 
Contracts with positive fair value
 
 
 
Interest rate swap contracts
—

 
818

Foreign exchange contracts
1,196

 
770

 
 
 
 
 
1,196

 
1,588

 
 
 
 
Contracts with negative fair value
 
 
 
Interest rate swap contracts
(17
)
 
—

Foreign exchange contracts
(3,007
)
 
(12,981
)
 
 
 
 
 
(3,024
)
 
(12,981
)
The net fair values of the exchange rate derivative contracts as of December 31, 2019 and December 31, 2018 were as follows:
 
 
 
 
 
 
Fair value at December 31,
Currencies
 
Contract
 
Notional
amount
 
2019
 
2018
 
 
 
 
 
 
 
 
 
EUR/$
 
ND Forward - Buy EUR
 
 140.8 million EUR
 
1,196

 
(12,954
)
COP/$
 
ND Forward - Sell COP
 
 241.9 billion COP
 
(3,007
)
 
109

BRL/$
 
ND Forward - Buy BRL
 
 34.5 million BRL
 
—

 
(493
)
EUR/$
 
ND Forward - Sell EUR
 
 1.9 million EUR
 
—

 
(27
)
BRL/$
 
ND Forward - Sell BRL
 
 32.0 million BRL
 
—

 
1,154

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1,811
)
 
(12,211
)
COP: Colombian pesos; EUR: E.U. euros; $: U.S. dollars; BRL: Brazilian reais.