XML 114 R6.htm IDEA: XBRL DOCUMENT v3.25.1
Consolidated statement of cash flows - COP ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flow in operating activities:      
Net profit for the year $ 18,498,875 $ 25,383,071 $ 35,199,480
Adjustments to reconcile the net profit to net cash provided by operating activities:      
Income tax expense 12,208,540 11,515,875 18,963,938
Depreciation, depletion, and amortization 15,197,283 13,812,387 12,128,991
(Gain) loss foreign exchange (51,567) (2,397,712) 124,650
Finance cost of loans and borrowings 7,377,086 6,923,831 5,517,417
Finance cost of post-employment benefits and abandonment costs 2,465,600 2,196,936 2,003,687
Write off exploratory assets and dry wells 1,108,134 1,472,397 1,032,164
Loss (gain) on disposal of non-current assets 50,371 (143,424) 379,985
Profit on business combinations (1,698,862) 0 0
Profit on reversal of fields (28,268) 0 0
Impairment (recovery) loss of non-current assets (867,428) 2,098,333 287,999
Impairment loss of current assets 262,010 95,902 101,871
Gain on fair value adjustment of financial assets and interest (1,675,173) (1,971,805) (1,009,908)
Loss (gain) on hedging transactions with derivatives 25,611 2,180 (553)
Share of profit of associates and joint ventures (764,366) (805,349) (768,422)
Loss (gain) on the sale of assets held for sale 21,056 19,799 (279,635)
Hedge ineffectiveness 6,658 25,454 6,625
Realized loss on foreign exchange cash flow hedges 238,943 479,779 1,143,287
Movements in provisions 312,128 853,365 715,831
Net change in operational assets and liabilities:      
Trade and other receivables 9,051,605 (20,439,663) (27,539,055)
Inventories 532,562 808,127 (2,831,729)
Trade and other payables (1,277,094) 507,579 3,690,068
Tax assets and liabilities (1,998,829) (5,854,882) (3,100,744)
Provisions for employee benefits (496,118) (177,960) (355,645)
Provisions and contingencies (1,061,339) (1,169,603) (1,004,167)
Other assets and liabilities (2,090,638) (601,662) 589,729
Cash flows from operations 55,346,780 32,632,955 44,995,864
Income tax paid (10,219,264) (12,832,403) (8,761,294)
Net cash provided by operating activities 45,127,516 19,800,552 36,234,570
Cash flow in investing activities:      
Investment in joint ventures (20,430) (853) (329,377)
Acquisition of subsidiaries, net of cash acquired (157,705) 0 0
Consideration paid for the acquisition of assets (880,396) 0 0
Investment in property, plant, and equipment (9,521,041) (9,349,885) (8,767,716)
Investment in natural and environmental resources (10,540,836) (13,964,435) (11,962,544)
Acquisitions of intangibles (865,708) (776,596) (1,147,510)
Proceeds from sales of other financial assets (2,455,334) 976,467 1,301,394
Interests received 1,627,135 1,884,445 965,952
Dividends received 425,191 482,124 1,471,134
Proceeds from sales of assets 355,142 728,995 373,634
Net cash used in investment activities (22,033,982) (20,019,738) (18,095,033)
Cash flow in financing activities:      
Proceeds from borrowings 27,155,189 34,035,090 16,844,029
Repayment of borrowings (26,157,908) (21,659,669) (16,409,494)
Interest payments (7,526,172) (6,580,746) (5,492,251)
Lease payments (562,501) (533,640) (434,555)
Payment of restitution of equity to minority shareholders (30,666) (44,768) (84,824)
Dividends paid (15,565,064) (5,570,876) (13,356,947)
Net cash used in financing activities (22,687,122) (354,609) (18,934,042)
Exchange difference in cash and cash equivalents 1,311,948 (2,491,148) 1,645,657
Net increase (decrease) in cash and cash equivalents 1,718,360 (3,064,943) 851,152
Cash and cash equivalents at the beginning of the year 12,336,115 15,401,058 14,549,906
Cash and cash equivalent at the end of the year $ 14,054,475 $ 12,336,115 $ 15,401,058