Financial Risk Management (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Consolidated Statement of Financial Position

As of December 31, the consolidated statement of financial position includes the following:


	2019				2020
	S/(000)		USD(000)		S/(000)		USD(000)
Assets		2,868,128		864,675		2,125,400		586,479
Liabilities		1,754,630		528,981		1,165,475		321,599

Schedule of Foreign Currency Exchange Gains and Losses Exposure against US Dollar

The Corporation’s exchange gains and losses for the Peruvian Sol, the Chilean and Colombian Pesos exposure against the U.S. dollar was:


	2018			2019			2020
Gain		383,085			392,942			426,850
Loss		(406,789	)		(425,782	)		(432,652	)

Schedule of Assets and Liabilities Equivalent to Functional Currency

The consolidated statement of changes in equity comprises a foreign currency translation adjustment originated by its subsidiaries. The consolidated statement of financial position includes assets and liabilities in functional currency equivalent to (in thousands):


	2019				2020
	Assets		Liabilities		Assets		Liabilities
Chilean Pesos		53,383,866		65,260,543		40,869,086		74,151,415
Colombian Pesos		187,119,204		76,446,723		113,350,078		54,581,654

Schedule of Undiscounted Cash Flows of Financial Liabilities

The table below analyzes the Corporation’s financial liabilities into relevant maturity groupings based on the remaining period from the date of the consolidated statement of financial position to the contractual maturity date. The amounts disclosed in the table are the contractual undiscounted cash flows.


As of December 31, 2019	Less than 1 year		1-2 years		2-5 years		More than 5 years		Total
Other financial liabilities (except for finance leases and lease liability for right-of-use asset)		501,864		147,473		235,222		—		884,559
Finance leases		11,438		3,531		13,346		—		28,315
Lease liability for right-of-use asset		31,036		40,808		32,562		11,551		115,957
Bonds		115,690		157,516		358,461		1,077,960		1,709,627
Trade accounts payables (except non-financial liabilities)		989,574		—		34,814		—		1,024,388
Accounts payables to related parties		38,916		21,747		—		836		61,499
Other accounts payables (except non-financial liabilities)		220,602		2,505		219,788		—		442,895
Other non-financial liabilities		—		52		—		—		52

		1,909,120		373,632		894,193		1,090,347		4,267,292


As of December 31, 2020	Less than 1 year		1-2 years		2-5 years		More than 5 years		Total
Other financial liabilities (except for finance leases and lease liability for right-of-use asset)		433,318		183,796		197,785		23,953		838,852
Finance leases		16,287		14,919		20,851		8,515		60,572
Lease liability for right-of-use asset		24,714		32,006		19,847		11,131		87,698
Bonds		137,090		168,673		385,919		971,543		1,663,225
Trade accounts payables (except non-financial liabilities)		1,001,470		40,502		—		—		1,041,972
Accounts payables to related parties		43,818		35,461		—		836		80,115
Other accounts payables (except non-financial liabilities)		288,037		2,185		115,321		—		405,543

		1,944,734		477,542		739,723		1,015,978		4,177,977

Schedule of Information About Gearing Ratio

As of December 31, 2019, and 2020, the gearing ratio is presented below indicating the Corporation’s strategy to keep it in a range from 0.10 to 0.70.


	2019			2020
Total financial liabilities and bonds (Note 18 and Note 19)		1,814,637			1,831,079
Less: Cash and cash equivalents (Note 9)		(950,701	)		(900,168	)

Net debt		863,936			930,911
Total equity		1,876,085			1,595,296

Total capital		2,740,021			2,526,207

Gearing ratio		0.32			0.37

Schedule of Assets and Liabilities Measured at Fair Value

The table below shows the Corporation’s assets and liabilities measured at fair value:


	Level 2		Level 3
As of December 31, 2019
Financial liabilities
Derivatives used for hedging (a)		52		—
As of December 31, 2020
Financial liabilities
Other financial entities (Note 18-d)		—		152,523

(a)

As of December 31, 2020, this financial liability was liquidated.