XML 60 R16.htm IDEA: XBRL DOCUMENT

Trade Accounts Receivables, Net

12 Months Ended

Dec. 31, 2020

10	TRADE ACCOUNTS RECEIVABLES, NET

As of December 31, this account comprises:


	Total				Current				Non-current
	2019		2020		2019		2020		2019		2020
Receivables, net (a)		959,151		753,693		415,970		254,587		543,181		499,106
Unbilled receivables, net - Subsidiaries (b)		499,974		413,364		387,998		337,244		111,976		76,120
Unbilled receivables, net - Concessions (c)		234,688		266,776		110,236		111,336		124,452		155,440

	1,693,813		1,433,833		914,204		703,167		779,609		730,666

The fair value of current accounts receivable is similar to their book value because their average maturity period is less than 60 days. These current accounts receivable do not accrue interest and do not have specific guarantees.

As of December 31, 2020, trade accounts receivable correspond mainly to Tren Urbano de Lima S.A. in S/743.8 (S/716.1 million to 2019), Cumbra Peru S.A. in S/435.8 million (S/575.5 million as of 2019), Adexus S.A. in S/91.7 million (S/118.9 million as of 2019), Cumbra Ingenieria S.A. in S/43.2 million (S/53.3 million as of 2019), Viva Negocio Immobiliario S.A. in S/40.2 million (S/83.6 million as of 2019), UNNA ENERGIA S.A. in S/37.6 million (S/63.4 million as of 2019), and others in S/41.5 million (S/83 million to 2019).

Trade accounts receivable of Tren Urbano de Lima S.A. includes the financial asset related to contractual right, for the amount of S/590.1 million (S/579.8 as of December 31, 2019).

The detail of the age of the commercial receivables net of impairment corresponds as follows:


	2019		2020
Current		817,233		718,220
0 to 30 days past due		45,922		5,737
31 to 90 days past due		27,364		6,801
91 to 120 days past due		1,319		2,279
121 to 360 days past due		10,502		4,185
Over 360 days past due		56,811		16,471

		959,151		753,693

The unbilled receivables by subsidiaries are documents related to the estimates of the degree of progress for services rendered that were not billed, as follows:


	2019		2020
Cumbra Peru S.A.		384,660		315,878
Concar S.A.C.		10,737		6,298
Cumbra Ingenieria S.A.		24,787		25,823
UNNA ENERGIA S.A.		1,657		1,512
Adexus S.A.		78,133		63,853

		499,974		413,364

Below are the unbilled receivables by the subsidiaries grouped by the main projects:


	2019		2020
Infrastructure
Operation and maintenance of roads		9,837		4,167
Oil services		1,657		1,512
Others		901		2,131

		12,395		7,810

Engineering and Construction
Talara Refinery		190,831		70,329
Project Quellaveco		52,488		84,014
Project Mina Justa		26,658		1,743
Civil works, assembly and electromechanics — Acero Arequipa		16,449		1,357
Project Mina Gold Fields La Cima S.A.		3,409		15,055
Generating Plant Machu Picchu		13,098		15,653
Works and Consortiums		11,311		6,576
Engineering and Construction Works VyV-DSD S.A.		38,194		43,159
Engineering and Construction Works — Morelco S.A.S.		40,400		16,066
Others		16,608		87,749

		409,446		341,701

Parent Company Operation		78,133		63,853

		499,974		413,364

The unbilled receivables (net) – Concessions (Note 2.5), corresponds to future collections for public services granted according to the following:


	2019		2020
Tren Urbano de Lima S.A.		208,205		235,763
Survial S.A.		16,466		10,611
Norvial S.A.		2,149		15,436
Concesión Canchaque S.A.C.		6,700		4,401
Concesionaria La Chira S.A.		1,168		565

		234,688		266,776

The movement of impairment in trade accounts receivable is as follows:


	2018			2019			2020
Balance at January, 1		(17,227	)		(7,633	)		(8,422	)
Impairment, net (Note 26.ii)		(3,065	)		(955	)		(19,772	)
Impairment, net (Note 28.b)		—			—			(33,874	)
Write-off		12,873			12			5,653
Exchange difference		(214	)		37			(212	)
Translation adjustments		—			117			(3	)

Balance at December, 31		(7,633	)		(8,422	)		(56,630	)

The no current unbilled receivables from Tren Urbano de Lima S.A. to the Peruvian State, which is measured at its cost amortized, accrued interest at a rate of 7.7% rate used in a financial instrument of similar characteristics (similar term, currency and counterparty risk)

The fair value and carrying amount for this concept are detailed below:


	Carrying amount				Fair value
	2019		2020		2019		2020
Tren Urbano de Lima S.A.		579,765		590,092		696,665		783,643

		579,765		590,092		696,665		783,643

The maximum exposure to credit risk at the reporting date is the carrying amount of accounts receivable and work in progress (Note 11).