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Risk management (Tables) | 6 Months Ended
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Jun. 30, 2024
Risk management |
Schedule of book values of financial assets and liabilities denominated in foreign currency | ​
​ | ​ | ​ | ​ | ​
​ |  | June 30, |  | December 31,
(USD$ Millions) | ​ | 2024 | ​ | 2023
​ | ​ | (Unaudited) | ​ | ​
Cash and cash equivalents |  | 806 | ​ | 554
Other financial assets |  | 765 | ​ | 1,188
Trade receivables and payables |  | (178) | ​ | (973)
Loans and borrowings |  | (18,838) | ​ | (18,470)
Other assets and liabilities |  | 25 | ​ | 268
Net liability position |  | (17,420) | ​ | (17,433)
Schedule of sensitivity analysis for exchange rate risk | The following is the effect that a variation of 1% and 5% would have in the exchange rate of Colombian pesos against the U.S. United States dollar, related to the exposure of financial assets and liabilities in foreign currency as of June 30, 2024: ​
​ | ​ | ​ | ​ | ​
Scenario / variation in the |  | Effect on income |  | Effect on other
exchange rate | ​ | before taxes +/– | ​ | comprehensive income +/
1 | % | 19,255 | ​ | 703,334
5 | % | 96,273 | ​ | 3,516,669
Schedule of non-derivative hedging instrument | ​
​ | ​ | ​ | ​ | ​
​ |  | June 30, |  | December 31,
(USD$ Millions) | ​ | 2024 | ​ | 2023
​ | ​ | (Unaudited) | ​ | ​
Opening balance |  | 6,265 | ​ | 5,572
Reassignment of hedging instruments |  | 290 | ​ | 970
Realized exports |  | (290) | ​ | (970)
Designation of new hedges |  | — | ​ | 693
Closing balance |  | 6,265 | ​ | 6,265
Schedule of movement in the other comprehensive income | ​
​ | ​ | ​ | ​ | ​
​ |  | June 30, |  | December 31,
​ | ​ | 2024 | ​ | 2023
​ | ​ | (Unaudited) | ​ | ​
Opening balance |  | (601,744) | ​ | 2,473,999
Exchange difference |  | 2,016,943 | ​ | (5,194,529)
Realized exports (Note 24) |  | 40,114 | ​ | (479,779)
Ineffectiveness |  | 2,330 | ​ | (25,454)
Deferred tax |  | (908,135) | ​ | 2,624,019
Closing balance |  | 549,508 | ​ | (601,744)
​
​ | ​ | ​ | ​ | ​
​ |  | June 30, |  | December 31,
​ | ​ | 2024 | ​ | 2023
​ | ​ | (Unaudited) | ​ | ​
Opening balance |  | 3,140,684 | ​ | 9,354,071
Exchange difference |  | 3,571,287 | ​ | (8,973,470)
Deferred tax |  | (1,382,016) | ​ | 2,760,083
Closing balance |  | 5,329,955 | ​ | 3,140,684
Schedule of expected reclassification of exchange differences accumulated in other comprehensive income to profit or loss | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
Year |  | Before taxes |  | Taxes |  | After taxes
2024 | ​ | (140,853) | ​ | 61,879 | ​ | (78,974)
2025 | ​ | (288,815) | ​ | 127,101 | ​ | (161,714)
2026 |  | (305,153) | ​ | 134,291 | ​ | (170,862)
2027 |  | (23,853) | ​ | 10,497 | ​ | (13,356)
2028 |  | (25,155) | ​ | 11,070 | ​ | (14,085)
2029 | ​ | (27,168) | ​ | 11,956 | ​ | (15,212)
2030 | ​ | (46,841) | ​ | 20,614 | ​ | (26,227)
2031 | ​ | (56,734) | ​ | 24,967 | ​ | (31,767)
2032 | ​ | (60,868) | ​ | 26,787 | ​ | (34,081)
2033 | ​ | (5,766) | ​ | 2,536 | ​ | (3,230)
​ | ​ | (981,206) | ​ | 431,698 | ​ | (549,508)
Schedule of leverage index over the periods reported | ​
​ | ​ | ​ | ​ | ​ | ​
​ |  | June 30, |  | December 31, |
​ | ​ | 2024 | ​ | 2023 | ​
​ | ​ | (Unaudited) | ​ | ​ | ​
Loans and borrowings (Note 19) |  | 115,019,566 | ​ | 105,815,527 | ​
Cash and cash equivalents (Note 6) |  | (13,236,875) | ​ | (12,336,115) | ​
Other financial assets (Note 9) |  | (2,746,668) | ​ | (2,232,775) | ​
Net financial debt |  | 99,036,023 | ​ | 91,246,637 | ​
Equity |  | 95,236,419 | ​ | 100,252,480 | ​
Leverage (1) |  | 50.98 | % | 47.65 | %
(1)Net financial debt / (Net financial debt + Equity)

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