XML 96 R52.htm IDEA: XBRL DOCUMENT v3.20.1
HEDGE ACCOUNTING (Tables)
 12 Months Ended
Dec. 31, 2019
Disclosure of detailed information about hedges [abstract]  
Disclosure of detailed information about fluctuation in foreign exchange rates [Text Block]

Changes in the fluctuation of the Colombian peso against the U.S. dollar have been as follows:

 

 

 

 

 

 

Date

    

Value of USD 1

    

Variation in pesos

December 31, 2017

 

2,984.00

 

(16.71)

December 31, 2018

 

3,249.75

 

265.75

December 31, 2019

 

3,277.14

 

27.39

 

Disclosure of detailed information about movements in other comprehensive income related to hedges of net investment in foreign operations

According to the information described above, the following table shows movements of OCI gross of taxes, related to hedges of net investment in foreign operations:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

 

 

    

Exchange 

    

Exchange 

    

 

 

 

 

Translation 

 

difference of 

 

difference 

 

 

 

 

 

adjustment of 

 

financial 

 

in forward 

 

Net OCI 

Detail of investment

    

the investments

    

liabilities

    

contracts

    

account

Leasing Bogotá Panamá

 

Ps.

101,556

 

Ps.

(56,618)

 

Ps.

(46,383)

 

Ps.

(1,445)

Other subsidiaries and branches Banco de Bogotá

 

 

3,638

 

 

 —

 

 

(3,935)

 

 

(297)

Occidental Bank Barbados

 

 

1,142

 

 

(1,142)

 

 

 —

 

 

 —

Banco de Occidente Panamá

 

 

1,799

 

 

(1,799)

 

 

 —

 

 

 —

Sociedad Portuaria El Cayao S.A. E.S.P.

 

 

(740)

 

 

740

 

 

 —

 

 

 —

Gases del Pacífico S.A.C.

 

 

(92)

 

 

(1,096)

 

 

 —

 

 

(1,189)

Gas Natural de Lima y Callao S.A.C.  – Calidda

 

 

(11,973)

 

 

11,973

 

 

 —

 

 

 —

Total

 

Ps.

95,329

 

Ps.

(47,942)

 

Ps.

(50,318)

 

Ps.

(2,931)

 

Disclosure of detailed information about hedge in foreign currency equity investments [Text Block]

According to information described above, the following table contains details of hedging operations carried out to cover foreign denominated equity investments. The analysis shows current amount of OCI gross of taxes:

 

December 31, 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Thousands of USD

 

 

Ps. millions

 

 

 

 

 

Amount of

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

hedge by

 

 

 

Cumulative

 

 

 

 

 

 

 

 

 

 

 

 

 

financial

 

Amount of

 

translation

 

Exchange

 

Exchange

 

 

 

 

 

 

 

liabilities in

 

hedge by

 

adjustment

 

difference of

 

difference in

 

 

 

 

 

Investment

 

foreign

 

forward

 

of the 

 

financial

 

forward

 

Net OCI

Detail of investment

    

amount

    

currency

    

contracts

    

investments (1)

    

liabilities (1)

    

contracts

    

account

Leasing Bogotá Panamá

 

4,475,304

 

(2,067,100)

 

(2,391,651)

 

Ps.

4,230,937

 

Ps.

(1,651,823)

 

Ps.

(2,716,214)

 

Ps.

(137,100)

Other subsidiaries and branches Banco de Bogotá (2)

 

139,662

 

 —

 

(137,752)

 

 

129,616

 

 

 —

 

 

(127,333)

 

 

2,283

Occidental Bank Barbados

 

31,027

 

(31,027)

 

 —

 

 

25,748

 

 

(25,748)

 

 

 —

 

 

 —

Banco de Occidente Panamá

 

38,924

 

(38,924)

 

 —

 

 

37,376

 

 

(37,376)

 

 

 —

 

 

 —

Sociedad Portuaria El Cayao S.A. E.S.P.  (3)

 

26,214

 

(26,214)

 

 —

 

 

9,332

 

 

(9,332)

 

 

 —

 

 

 —

Gases del Pacífico S.A.C. (3)

 

 2,500

 

(2,500)

 

 —

 

 

2,302

 

 

(3,490)

 

 

 —

 

 

(1,189)

Gas Natural de Lima y Callao S.A.C.  – Calidda (3)

 

131,606

 

(131,606)

 

 —

 

 

(3,977)

 

 

3,977

 

 

 —

 

 

 —

Total

 

4,845,237

 

(2,297,371)

 

(2,529,403)

 

Ps.

4,431,333

 

Ps.

(1,723,792)

 

Ps.

(2,843,547)

 

Ps.

(136,006)

 

 

 

December 31, 2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Thousands of USD

 

 

Ps. millions

 

 

 

 

 

Amount of

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

hedge by

 

 

 

Cumulative

 

 

 

 

 

 

 

 

 

 

 

 

 

financial

 

Amount of

 

translation

 

Exchange

 

Exchange

 

 

 

 

 

 

 

liabilities in

 

hedge by

 

adjustment

 

difference of

 

difference in

 

 

 

 

 

Investment

 

foreign

 

forward

 

of the 

 

financial

 

forward

 

Net OCI

Detail of investment

    

amount

    

currency

    

contracts

    

investments (1)

    

liabilities (1)

    

contracts

    

account

Leasing Bogotá Panamá

 

3,964,051

 

(2,067,100)

 

(1,896,348)

 

Ps.

4,129,381

 

Ps.

(1,595,205)

 

Ps.

(2,669,831)

 

Ps.

(135,655)

Other subsidiaries and branches Banco de Bogotá (2)

 

126,380

 

 —

 

(121,116)

 

 

125,978

 

 

 —

 

 

(123,398)

 

 

2,580

Occidental Bank Barbados

 

23,971

 

(23,971)

 

 —

 

 

24,606

 

 

(24,606)

 

 

 —

 

 

 —

Banco de Occidente Panamá

 

23,439

 

(23,439)

 

 —

 

 

35,577

 

 

(35,577)

 

 

 —

 

 

 —

Sociedad Portuaria El Cayao S.A. E.S.P.  (3)

 

31,214

 

(31,214)

 

 —

 

 

10,072

 

 

(10,072)

 

 

 —

 

 

 —

Gases del Pacífico S.A.C. (3)

 

4,000

 

(4,000)

 

 —

 

 

2,394

 

 

(2,394)

 

 

 —

 

 

 —

Gas Natural de Lima y Callao S.A.C.  – Calidda (3)

 

31,649

 

(19,336)

 

 —

 

 

7,996

 

 

(7,996)

 

 

 —

 

 

 —

Total

 

4,204,704

 

(2,169,060)

 

(2,017,464)

 

Ps.

4,336,004

 

Ps.

(1,675,850)

 

Ps.

(2,793,229)

 

Ps.

(133,075)

(1)

Includes exchange difference hedged

(2)

Includes Banco de Bogotá Panamá, Banco Bogotá Finance, Ficentro and contributions of foreign branches in Miami, New York and Nassau.

(3)

Includes only a portion of this investments hedged
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [text block]

The following is the summary of Promigas and its subsidiaries open cash flow hedges:

 

 

 

 

 

 

 

 

    

December 31, 2019

    

December 31, 2018

 

Income in Thousands of USD dollars forecasted

 

92,611

 

120,265

 

Notional amount contracts forward Thousands of USD

 

92,611

 

120,265

 

% hedged

 

100

%  

100

%

Fair value in Colombian pesos

 

(874)

 

(13,414)

 

# of contracts

 

158

 

1,470

 

 

Disclosure of analysis of other comprehensive income by item [text block]

The movement of the accumulated OCI account related to cash flow hedges in Colombian pesos during the years ended on December 31, 2019, 2018 and 2017 is as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

    

December 31, 2019

    

December 31, 2018

    

December 31, 2017

Balance at the beginning of the year

 

Ps.

(14,343)

 

Ps.

5,447

 

Ps.

7,419

Changes in the fair value of the hedge forward contracts

 

 

(6,597)

 

 

(19,513)

 

 

24,874

Reclassified to profit or loss

 

 

20,066

 

 

(276)

 

 

(26,846)

Balance at the end of the year

 

Ps.

(874)

 

Ps.

(14,343)

 

Ps.

5,447

 

Disclosure of detailed information about derivative financial instruments for hedging [Text Block]

According to information described above, the following table contains the fair value of derivative financial instruments used for hedging:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2019

 

December 31, 2018

Item

    

Assets

    

Liabilities

    

Assets

    

Liabilities

Forward contracts

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency to buy

 

Ps.

14

 

Ps.

74,529

 

Ps.

28,367

 

Ps.

1,128

Foreign currency to sale

 

 

166,584

 

 

16,197

 

 

1,771

 

 

194,411

Subtotal

 

Ps.

166,598

 

Ps.

90,726

 

Ps.

30,138

 

Ps.

195,539

Swap

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate

 

 

 —

 

 

3,572

 

 

 —

 

 

 —

Subtotal

 

Ps.

 —

 

Ps.

3,572

 

Ps.

 —

 

Ps.

 —

Total hedge derivatives

 

Ps.

166,598

 

Ps.

94,298

 

Ps.

30,138

 

Ps.

195,539