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OTHER INCOME AND EXPENSE (Tables)
 12 Months Ended
Dec. 31, 2019
Disclosure of other income and expense [abstract]  
Disclosure of general and administrative expense [text block]

Below is a detail of the other income and expense in the years ended December 31, 2019,  2018 and 2017:

 

 

 

 

 

 

 

 

 

 

 

 

    

December 31, 

    

December 31, 

    

December 31, 

Other Income

 

2019

 

2018

 

2017

Foreign exchange gains (losses), net

Ps.

 

312,267

Ps.

 

283,440

Ps.

 

424,483

Share of profit of equity accounted investees, net of tax

 

 

229,626

 

 

197,715

 

 

171,964

Net gain on sale of debt and equity securities (1)

 

 

198,562

 

 

1,104

 

 

51,712

Dividends

 

 

84,686

 

 

71,487

 

 

50,439

Gain on the sale of non-current assets held for sale

 

 

23,381

 

 

20,062

 

 

13,568

Gain on sale of property, plant and equipment (2)

 

 

24,381

 

 

390,472

 

 

10,581

Net gain in assets valuation

 

 

14,151

 

 

37,307

 

 

39,012

Other income

 

 

395,909

 

 

357,094

 

 

389,986

Total other income

Ps.

 

1,282,963

Ps.

 

1,358,681

Ps.

 

1,151,745

(1)

The increase of Ps. 197,458 is due to the realization of the gains recognized in OCI for the sale of fixed income investments.

(2)

The year 2018 includes the recognition of income from sales with subsequent leasing of assets in Banco de Bogota by Ps. 312,316 and Ps. 60,474 in Banco Popular.

 

 

 

 

 

 

 

 

 

 

 

 

 

    

December 31, 

    

December 31, 

    

December 31, 

Other Expense

 

2019

 

2018

 

2017

Personnel expenses

 

Ps.

(4,085,396)

  

Ps.

(3,877,584)

 

Ps.

(3,671,117)

Taxes and fees

 

  

(914,476)

  

 

(757,936)

 

  

(731,316)

Affiliation contributions and transfers

 

  

(664,835)

  

 

(511,811)

 

  

(429,825)

Consultancy, audit and other fees

 

  

(661,645)

  

 

(569,276)

 

  

(460,978)

Maintenance and repairs

 

  

(458,522)

  

 

(378,433)

 

  

(392,271)

Depreciation of tangible assets

 

  

(416,946)

  

 

(378,218)

 

 

(383,911)

Wealth tax (1)

 

  

 —

  

 

 —

 

  

(101,988)

Insurance

 

  

(382,322)

  

 

(375,611)

 

  

(351,745)

Marketing

 

  

(351,104)

  

 

(327,539)

 

  

(314,657)

Depreciation right of use assets (2)

 

 

(292,771)

 

 

 —

 

 

 —

Warehouse services

 

  

(277,574)

  

 

(270,223)

 

  

(277,849)

Amortization of intangible assets

 

 

(191,768)

  

 

(161,533)

 

 

(137,497)

Transportation services

 

  

(184,720)

  

 

(181,687)

 

  

(166,429)

Leases (Rent)

 

  

(175,002)

  

 

(476,590)

 

  

(431,507)

Outsourcing services

 

  

(149,280)

  

 

(128,495)

 

  

(128,656)

Cleaning and security services

 

  

(137,721)

  

 

(126,822)

 

  

(131,451)

Supplies and stationary

 

  

(103,104)

  

 

(85,128)

 

  

(82,113)

Data processing

 

  

(83,542)

  

 

(81,426)

 

  

(73,872)

Adaptation and installation

 

  

(58,904)

  

 

(55,815)

 

  

(62,809)

Travel expenses

 

  

(58,663)

  

 

(52,584)

 

  

(48,193)

Impairment losses other assets (3)

 

  

(20,755)

  

 

(166,300)

 

  

(174,255)

Loss from sale of non-current assets held for sale

 

 

(4,392)

 

 

(5,200)

 

 

(6,957)

Other

 

  

(497,907)

  

 

(402,822)

 

  

(443,695)

Total other expense

 

Ps.

(10,171,349)

  

Ps.

(9,371,033)

 

Ps.

(9,003,091)

(1)

Grupo Aval and its subsidiaries in Colombia were subject to wealth tax for the year 2017 by law 1739 of 2014.

(2)

The Group adopted IFRS 16 on January 1, 2019. (See Note 2.4A)

The year 2018 includes the provision of investment in Concesionaria Ruta del Sol S.A.S at 100%.