XML 84 R68.htm IDEA: XBRL DOCUMENT v3.19.1
Note 27 - Financial Instruments and Risks (Tables)
 12 Months Ended
Dec. 31, 2018
Statement Line Items [Line Items]  
Disclosure of financial risk management [text block]
                              2018  
               
Fair Value
  
Gain / (Losses)
Exposure   Risk   Notional   Assets   Liability   Finance Result   Operational Result   Equity
Cost  
 
  
(11,793.2)
    
11,607.3
      
184.4
      
(394.2
 )    
(784.4
 )    
1,182.8
      
1,733.6
  
   
Commodity
  
(2,597.0)
    
2,411.1
      
14.9
      
(270.6
 )    
(104.1
 )    
78.4
      
(160.0
 )
   
American Dollar
  
(8,774.3)
    
8,774.3
      
128.4
      
(119.9
 )    
(681.5
 )    
1,080.7
      
1,796.0
  
   
Euro
  
(152.4)
    
152.4
      
2.2
      
(1.0
 )    
(3.0
 )    
4.6
      
2.8
  
   
Mexican Pesos
  
(269.5)
    
269.5
      
38.9
      
(2.7
 )    
4.2
      
19.1
      
94.8
  
Fixed Assets  
 
  
(890.0)
    
890.0
      
23.7
      
(29.3
 )    
21.9
      
–
      
–
  
   
American Dollar
  
(890.0)
    
890.0
      
23.7
      
(29.1
 )    
19.3
      
–
      
–
  
   
Euro
  
-
    
–
      
–
      
(0.2
 )    
2.6
      
–
      
–
  
Expenses  
 
  
(314.0)
    
314.0
      
11.4
      
(14.2
 )    
(0.4
 )    
17.7
      
(0.6
 )
   
American Dollar
  
(311.8)
    
311.8
      
11.4
      
(14.2
 )    
(0.8
 )    
18.5
      
–
  
   
Rupee
  
(2.2)
    
2.2
      
–
      
–
      
0.4
      
(0.8
 )    
(0.6
 )
Cash  
 
  
(15.0)
    
15.0
      
0.4
      
–
      
(347.4
 )    
–
      
–
  
   
American Dollar
  
-
    
–
      
0.3
      
–
      
(347.3
 )    
–
      
–
  
   
Interest rate
  
(15.0)
    
15.0
      
0.1
      
–
      
(0.1
 )    
–
      
–
  
Debts  
 
  
(1,010.6)
    
338.2
      
34.9
      
(1.1
 )    
89.6
      
–
      
–
  
   
American Dollar
  
(672.4)
    
–
      
–
      
–
      
73.2
      
–
      
–
  
   
Interest rate
  
(338.2)
    
338.2
      
34.9
      
(1.1
 )    
16.4
      
–
      
–
  
Equity Instrument  
 
  
(1,535.4)
    
1,108.4
      
0.1
      
(243.0
 )    
(378.2
 )    
–
      
–
  
   
Stock Exchange Prices
  
(1,535.4)
    
1,108.4
      
0.1
      
(243.0
 )    
(378.2
 )    
–
      
–
  
Foreign Investments  
 
  
-
    
–
      
–
      
–
      
4.3
      
(57.0
 )    
7.4
  
   
American Dollar
  
-
    
–
      
–
      
–
      
4.3
      
(57.0
 )    
7.4
  
As of December 31, 2018  
 
  
(15,558.2)
    
14,272.9
      
254.9
      
(681.8
 )    
(1,394.6
 )    
1,143.5
      
1,740.4
  
                              2017  
           
Fair Value
  
Gain / (Losses)
Exposure   Risk   Notional   Assets   Liability   Finance Result   Operational Result   Equity
Cost  
 
  
(9,742.3)
    
9,318.9
      
283.6
      
(190.0
 )    
(563.5
 )    
(200.2
 )    
584.8
  
   
Commodity
  
(2,378.7)
    
1,955.3
      
166.5
      
(70.7
 )    
(1.5
 )    
103.6
      
(4.8
 )
   
American Dollar
  
(6,879.1)
    
6,879.1
      
86.3
      
(93.4
 )    
(556.1
 )    
(331.5
 )    
630.2
  
   
Euro
  
(82.9)
    
82.9
      
3.5
      
(0.7
 )    
(4.7
 )    
0.4
      
6.6
  
   
Mexican Pesos
  
(401.6)
    
401.6
      
27.3
      
(25.2
 )    
(1.2
 )    
27.3
      
(47.2
 )
Fixed Assets  
 
  
(579.5)
    
579.5
      
1.9
      
(10.8
 )    
(1.9
 )    
–
      
–
  
   
American Dollar
  
(531.9)
    
531.9
      
1.8
      
(10.8
 )    
(2.8
 )    
–
      
–
  
   
Euro
  
(47.6)
    
47.6
      
0.1
      
–
      
0.9
      
–
      
–
  
Expenses  
 
  
(177.7)
    
177.7
      
0.5
      
(1.8
 )    
(2.9
 )    
3.9
      
1.8
  
   
American Dollar
  
(169.2)
    
169.2
      
0.3
      
(1.6
 )    
(3.1
 )    
3.5
      
2.4
  
   
Rupee
  
(8.5)
    
8.5
      
0.2
      
(0.2
 )    
0.2
      
0.4
      
(0.6
 )
Cash  
 
  
(1,328.3)
    
1,328.3
      
–
      
(13.1
 )    
(266.0
 )    
–
      
–
  
   
American Dollar
  
(1,313.3)
    
1,313.3
      
–
      
(13.1
 )    
(266.0
 )    
–
      
–
  
   
Interest rate
  
(15.0)
    
15.0
      
–
      
–
      
–
      
–
      
–
  
Debts  
 
  
(919.5)
    
356.9
      
30.0
      
(1.8
 )    
(67.5
 )    
–
      
–
  
   
American Dollar
  
(562.6)
    
–
      
–
      
–
      
(76.2
 )    
–
      
–
  
   
Interest rate
  
(356.9)
    
356.9
      
30.0
      
(1.8
 )    
8.7
      
–
      
–
  
Equity Instrument  
 
  
(2,347.9)
    
677.0
      
69.2
      
–
      
67.0
      
–
      
–
  
   
Stock Exchange Prices
  
(2,347.9)
    
677.0
      
69.2
      
–
      
67.0
      
–
      
–
  
As of December 31, 2017  
 
  
(15,095.2)
    
12,438.3
      
385.2
      
(217.5
 )    
(834.8
 )    
(196.3
 )    
586.6
  
Disclosure of detailed information about hedging instruments [text block]
    2018
     
Pre - Hedge
      
Post - Hedge
  
     
Interest rate
      
 Amount
     
Interest rate
      
 Amount
 
Brazilian Real    
9.1
 %    
237.6
      
6.8
 %    
516.0
  
American Dollar    
3.6
 %    
630.0
      
3.6
 %    
630.0
  
Canadian  Dollar    
2.4
 %    
753.2
      
2.4
 %    
753.2
  
Interest rate post fixed    
 
      
1,620.8
      
 
      
1,899.2
  
                                 
                                 
Brazilian Real    
6.7
 %    
536.0
      
5.8
 %    
257.6
  
Dominican Peso    
9.4
 %    
212.1
      
9.4
 %    
212.1
  
American Dollar    
4.4
 %    
42.4
      
4.4
 %    
42.4
  
Guatemala´s Quetzal    
7.8
 %    
11.4
      
7.8
 %    
11.4
  
Interest rate pre-set    
 
      
801.9
      
 
      
523.5
  
    2017
    Pre - Hedge   Post - Hedge
     
Interest rate
      
 Amount
     
Interest rate
      
 Amount
 
Brazilian Real    
9.2
 %    
402.3
      
7.6
 %    
714.1
  
American Dollar    
2.7
 %    
555.3
      
2.7
 %    
555.2
  
Canadian  Dollar    
2.0
 %    
685.9
      
2.0
 %    
685.9
  
Barbadian Dollar    
2.3
 %    
5.0
      
2.3
 %    
5.0
  
Interest rate post fixed    
 
      
1,648.5
      
 
      
1,960.2
  
                                 
Brazilian Real    
6.4
 %    
682.5
      
5.9
 %    
370.8
  
Working Capital in Argentinean Peso    
31.0
 %    
1.8
      
31.0
 %    
1.8
  
Dominican Peso    
9.3
 %    
188.8
      
9.3
 %    
188.8
  
American Dollar    
3.8
 %    
22.9
      
3.8
 %    
22.9
  
Guatemala´s Quetzal    
7.8
 %    
10.3
      
7.8
 %    
10.3
  
Interest rate pre-set    
 
      
906.3
      
 
      
594.6
  
Sensitivity analysis for types of market risk [text block]
Transaction   Risk     Fair value       Probable scenario       Adverse scenario       Remote scenario  
                                     
Commodities hedge  
Decrease on commodities price
    
(255.7
 )    
(335.1
 )    
(858.5
 )    
(1,461.2
 )
Input purchase  
 
    
255.7
      
341.3
      
905.0
      
1,554.2
  
Foreign exchange hedge  
Foreign currency decrease
    
45.9
      
(125.0
 )    
(2,253.0
 )    
(4,552.1
 )
Input purchase  
 
    
(45.9
 )    
125.0
      
2,253.0
      
4,552.1
  
Costs effects  
 
    
–
      
6.2
      
46.5
      
93.0
  
                                     
Foreign exchange hedge  
Foreign currency decrease
    
(5.6
 )    
(29.7
 )    
(228.1
 )    
(450.6
 )
Capex Purchase  
 
    
5.6
      
29.7
      
228.1
      
450.6
  
Fixed assets effects  
 
    
–
      
–
      
–
      
–
  
                                     
Foreign exchange hedge  
Foreign currency decrease
    
(2.8
 )    
(10.1
 )    
(81.2
 )    
(159.7
 )
Expenses  
 
    
2.8
      
10.1
      
81.2
      
159.7
  
Expenses effects  
 
    
–
      
–
      
–
      
–
  
                                     
Foreign exchange hedge
  
Foreign currency increase
    
0.3
      
0.3
      
0.3
      
0.3
  
Cash  
 
    
(0.3
 )    
(0.3
 )    
(0.3
 )    
(0.3
 )
Interest Hedge  
Decrease in interest rate
    
0.1
      
–
      
(1.1
 )    
(1.3
 )
Interest revenue  
 
    
(0.1
 )    
–
      
1.1
      
1.3
  
Cash effects  
 
    
–
      
–
      
–
      
–
  
                                     
Cash  
Foreign currency decrease
    
–
      
12.8
      
168.1
      
336.2
  
Interest Hedge  
Increase in interest rate
    
33.8
      
31.5
      
(92.6
 )    
(109.1
 )
Interest expenses  
 
    
(33.8
 )    
(31.5
 )    
92.6
      
109.1
  
Debt effects  
 
    
–
      
12.8
      
168.1
      
336.2
  
                                     
Equity Instrument Hedge  
Stock Exchange Price decrease
    
(242.9
 )    
(273.7
 )    
(520.0
 )    
(797.1
 )
Expenses  
 
    
242.9
      
285.1
      
626.7
      
1,010.6
  
Equity effects  
 
    
–
      
11.4
      
106.7
      
213.5
  
   
 
    
–
      
30.4
      
321.3
      
642.7
  
Disclosure of notional and fair value amounts per financial instrument and maturity [text block]
        Notional Value
Exposure   Risk   2019   2020   2021   2022   >2022   Total
                             
Cost  
 
    
11,563.1
      
44.2
      
–
       –      
–
      
11,607.3
  
   
Commodity
    
2,366.9
      
44.2
      
–
       –      
–
      
2,411.1
  
   
American Dollar
    
8,774.3
      
–
      
–
       –      
–
      
8,774.3
  
   
Euro
    
152.4
      
–
      
–
       –      
–
      
152.4
  
   
Mexican Peso
    
269.5
      
–
      
–
       –      
–
      
269.5
  
                                                     
Fixed asset  
 
    
890.0
      
–
      
–
       –      
–
      
890.0
  
   
American Dollar
    
890.0
      
–
      
–
       –      
–
      
890.0
  
                                                     
Expenses  
 
    
314.0
      
–
      
–
       –      
–
      
314.0
  
   
American Dollar
    
311.8
      
–
      
–
       –      
–
      
311.8
  
   
Rupee
    
2.2
      
–
      
–
       –      
–
      
2.2
  
                                                     
Cash  
 
    
15.0
      
–
      
–
       –      
–
      
15.0
  
   
Interest rate
    
15.0
      
–
      
–
       –      
–
      
15.0
  
                                                     
Debt  
 
    
–
      
–
      
110.0
       –      
228.2
      
338.2
  
   
Interest rate
    
–
      
–
      
110.0
       –      
228.2
      
338.2
  
                                                     
Equity Instrument  
 
    
1,108.4
      
–
      
–
       –      
–
      
1,108.4
  
   
Stock prices
    
1,108.4
      
–
      
–
       –      
–
      
1,108.4
  
   
 
    
13,890.5
      
44.2
      
110.0
       –      
228.2
      
14,272.9
  
        Fair Value
Exposure   Risk   2019   2020   2021   2022   >2022   Total
                             
Cost  
 
    
(208.4
 )    
(1.4
 )    
–
       –      
–
      
(209.8
 )
   
Commodity
    
(254.3
 )    
(1.4
 )    
–
       –      
–
      
(255.7
 )
   
American Dollar
    
8.5
      
–
      
–
       –      
–
      
8.5
  
   
Euro
    
1.2
      
–
      
–
       –      
–
      
1.2
  
   
Mexican Peso
    
36.2
      
–
      
–
       –      
–
      
36.2
  
                                                     
Fixed asset  
 
    
(5.6
 )    
–
      
–
       –      
–
      
(5.6
 )
   
American Dollar
    
(5.4
 )    
–
      
–
       –      
–
      
(5.4
 )
   
Euro
    
(0.2
 )    
–
      
–
       –      
–
      
(0.2
 )
                                                     
Expenses  
 
    
(2.8
 )    
–
      
–
       –      
–
      
(2.8
 )
   
American Dollar
    
(2.8
 )    
–
      
–
       –      
–
      
(2.8
 )
                                                     
Cash  
 
    
0.4
      
–
      
–
       –      
–
      
0.4
  
   
American Dollar
    
0.3
      
–
      
–
       –      
–
      
0.3
  
   
Interest rate
    
0.1
      
–
      
–
       –      
–
      
0.1
  
                                                     
Debt  
 
    
–
      
–
      
20.4
       –      
13.4
      
33.8
  
   
Interest rate
    
–
      
–
      
20.4
       –      
13.4
      
33.8
  
                                                     
Equity Instrument  
 
    
(242.9
 )    
–
      
–
       –      
–
      
(242.9
 )
   
 Stock prices
    
(242.9
 )    
–
      
–
       –      
–
      
(242.9
 )
   
 
    
(459.3
 )    
(1.4
 )    
20.4
       –      
13.4
      
(426.9
 )
Disclosure of detailed information about financial instruments [text block]
    2018
     
Fair value through other comprehensive income
      
Amortized cost
      
Fair value through profit or loss
      
 Total
 
Financial assets                                
Cash and cash equivalents    
3,778.4
      
7,685.1
      
–
      
11,463.5
  
Trade  receivables excluding prepaid expenses    
–
      
6,874.3
      
–
      
6,874.3
  
Investment securities    
–
      
147.3
      
13.4
      
160.7
  
Financial instruments derivatives    
–
      
–
      
34.1
      
34.1
  
Derivatives hedge    
–
      
–
      
220.8
      
220.8
  
Total    
3,778.4
      
14,706.7
      
268.3
      
18,753.4
  
                                 
Financial liabilities                                
Trade payables and put option granted on subsidiary and other liabilities    
–
      
15,535.0
      
2,669.5
      
18,204.5
  
Financial instruments derivatives    
–
      
–
      
243.4
      
243.4
  
Derivatives hedge    
–
      
–
      
438.4
      
438.4
  
Interest-bearning loans and borrowings    
–
      
2,422.7
      
–
      
2,422.7
  
Total    
–
      
17,957.7
      
3,351.3
      
21,309.0
  
    2017
     
Fair value through other comprehensive income
      
Amortized cost
      
Fair value through profit or loss
      
 Total
 
Financial assets                                
Cash and cash equivalents    
3,081.7
      
7,272.8
      
–
      
10,354.5
  
Trade  receivables excluding prepaid expenses    
–
      
7,505.0
      
–
      
7,505.0
  
Investment securities    
–
      
122.0
      
11.9
      
133.9
  
Financial instruments derivatives    
–
      
–
      
100.1
      
100.1
  
Derivatives hedge    
–
      
–
      
285.1
      
285.1
  
Total    
3,081.7
      
14,899.8
      
397.1
      
18,378.6
  
                                 
Financial liabilities                                
Trade payables and put option granted on subsidiary and other liabilities    
–
      
13,502.0
      
5,764.1
      
19,266.1
  
Financial instruments derivatives    
–
      
–
      
16.1
      
16.1
  
Derivatives hedge    
–
      
–
      
201.4
      
201.4
  
Interest-bearning loans and borrowings    
–
      
2,553.0
      
–
      
2,553.0
  
Total    
–
      
16,055.0
      
5,981.6
      
22,036.6
  
Disclosure of financial instruments fair value hierarchy [text block]
    2018   2017
                                 
     
Level 1
      
Level 2
      
Level 3
      
 Total
     
Level 1
      
Level 2
      
Level 3
      
Total
  
Financial assets                                                                
Financial asset at fair value through other comprehensive income    
3,778.4
      
–
      
–
      
3,778.4
      
3,081.8
      
–
      
–
      
3,081.8
  
Financial asset at fair value through profit or loss    
13.4
      
–
      
–
      
13.4
      
11.9
      
–
      
–
      
11.9
  
Derivatives assets at fair value through profit or loss    
0.1
      
34.0
      
–
      
34.1
      
0.1
      
100.0
      
–
      
100.1
  
Derivatives - operational hedge    
1.6
      
219.2
      
–
      
220.8
      
4.8
      
280.3
      
–
      
285.1
  
     
3,793.5
      
253.2
      
–
      
4,046.7
      
3,098.6
      
380.3
      
–
      
3,478.9
  
Financial liabilities                                                                
Financial liabilities at fair value through profit and loss
(i)
    
–
      
–
      
2,669.5
      
2,669.5
      
–
      
–
      
5,764.1
      
5,764.1
  
Derivatives liabilities at fair value through profit or loss    
0.5
      
242.9
      
–
      
243.4
      
1.7
      
14.4
      
–
      
16.1
  
Derivatives - operational hedge    
36.6
      
401.8
      
–
      
438.4
      
58.4
      
143.0
      
–
      
201.4
  
     
37.1
      
644.7
      
2,669.5
      
3,351.3
      
60.1
      
157.4
      
5,764.1
      
5,981.6
  
Disclosure of fair value measurement of liabilities [text block]
Financial liabilities at December 31, 2017    
5,764.1
  
Acquisition of investments    
(3,568.7
 )
Total gains and losses in the year    
474.1
  
Losses/(gains) recognized in net income    
340.1
  
Losses/(gains) recognized in equity    
134.0
  
Financial liabilities at December 31, 2018
(i)
    
2,669.5