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Risk management (Tables)

6 Months Ended

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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The detailed information about the carrying amount of financial assets and liabilities denominated in foreign currencies.

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The disclosure of detailed information about hedging instruments. [Refer: Hedging instruments [member]]

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