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Loans | 12 Months Ended
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Dec. 31, 2020
Text block [abstract] |
Loans |
|  |  |  |  |  |  |  | 2020 |  |  | 2019 |  |  | 2018 |
|  | Interest rate (1) |  |  | Maturity |  |  | Noncurrent |  |  | Current |  |  | Noncurrent |  |  | Current |  |  | Noncurrent |  |  | Current |
Pesos |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Negotiable obligations (5) |  |  | 16.50 | % |  |  | - |  |  |  | 39.13 | % |  |  | 2021-2024 |  |  |  | 6,435 |  |  |  | 17,254 |  |  |  | 8,619 |  |  |  | 27,481 |  |  |  | 26,118 |  |  |  | 6,999 |
Export pre-financing |  |  | 32.00 | % |  |  | - |  |  |  | 40.50 | % |  |  | 2021 |  |  |  | — |  |  |  | 5,465 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Loans |  |  | 33.00 | % |  |  | - |  |  |  | 61.00 | % |  |  | 2021-2024 |  |  |  | 5,375 |  |  |  | 6,818 |  |  |  | — |  |  |  | 3,687 |  |  |  | 40 |  |  |  | 789 | (3)
Account overdraft |  |  |  |  |  |  | - |  |  |  |  |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2,103 |  |  |  | — |  |  |  | — |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 11,810 |  |  |  | 29,537 |  |  |  | 8,619 |  |  |  | 33,271 |  |  |  | 26,158 |  |  |  | 7,788 |
Currencies other than the Peso |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Negotiable obligations (2) (4) |  |  | 0.00 | % |  |  | - |  |  |  | 10.00 | % |  |  | 2021-2047 |  |  |  | 496,377 |  |  |  | 62,052 |  |  |  | 375,560 |  |  |  | 13,279 |  |  |  | 219,510 |  |  |  | 17,417 |
Export pre-financing (6) |  |  | 2.75 | % |  |  | - |  |  |  | 7.75 | % |  |  | 2021-2022 |  |  |  | 12,608 |  |  |  | 25,662 |  |  |  | 10,762 |  |  |  | 33,100 |  |  |  | — |  |  |  | 20,724 |
Imports financing |  |  |  |  |  |  | - |  |  |  |  |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 17,876 |  |  |  | 968 |  |  |  | 13,176 |
Loans |  |  | 0.91 | % |  |  | - |  |  |  | 8.01 | % |  |  | 2021-2027 |  |  |  | 6,780 |  |  |  | 33,480 |  |  |  | 24,710 |  |  |  | 9,583 |  |  |  | 23,616 |  |  |  | 5,721 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 515,765 |  |  |  | 121,194 |  |  |  | 411,032 |  |  |  | 73,838 |  |  |  | 244,094 |  |  |  | 57,038 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 527,575 |  |  |  | 150,731 |  |  |  | 419,651 |  |  |  | 107,109 |  |  |  | 270,252 |  |  |  | 64,826 |
(1) | Nominal annual interest rate as of December 31, 2020.
(2) | Disclosed net of 326 and 410 corresponding to YPF’s own NO repurchased through open market transactions, as of December 31, 2019 and 2018, respectively.
(3) | As of December 31, 2018, it includes 500 of loans granted for BNA, which accrues variable interest at a BADLAR plus a margin of 3.5 points. See Note 35.
(4) | Includes 20,496, 4,643 and 2,634 as of December 31, 2020, 2019 and 2018, respectively, of nominal value of negotiable obligations that will be canceled in Pesos at the applicable exchange rate in accordance with the terms of the series issued.
(5) | Includes 4,602, 15,850 and 15,850 as of December 31, 2020, 2019 and 2018, respectively, of nominal value of NO that will be canceled in dollars at the applicable exchange rate according to the conditions of the issued series.
(6) | Includes 4,791, 4,933 and 5,264, as of December 31, 2020, 2019 and 2018, respectively, of pre-financing of exports granted by BNA, which accrue a 5.85%, 6.89% and 3.93%, respectively, weighted average rate.
The breakdown of the Group’s borrowings as of the fiscal year ended on December 31, 2020, 2019 and 2018 is as follows:
|  | 2020 |  |  | 2019 |  |  | 2018 |
Balance at beginning of the year |  |  | 526,760 |  |  |  | 335,078 |  |  |  | 191,063 |
Proceed from loans |  |  | 139,018 |  |  |  | 97,351 |  |  |  | 39,673 |
Payments of loans |  |  | (174,913 | ) |  |  | (93,456 | ) |  |  | (55,734 | )
Payments of interest |  |  | (60,681 | ) |  |  | (41,606 | ) |  |  | (26,275 | )
Accrued interest (1) |  |  | 58,979 |  |  |  | 44,570 |  |  |  | 27,998 |
Net exchange differences and translation |  |  | 187,455 |  |  |  | 185,420 |  |  |  | 160,016 |
Result from net monetary position (2) |  |  | (409 | ) |  |  | (597 | ) |  |  | (1,663 | )
Reclassifications and other movements |  |  | 2,097 |  |  |  | — |  |  |  | — |
Balance at the end of the year |  |  | 678,306 |  |  |  | 526,760 |  |  |  | 335,078 |
(1) | Includes capitalized financial costs.
(2) | Includes adjustment for inflation of opening balances of loans in subsidiaries with the Peso as functional currency which was charged to other comprehensive income and the adjustment for inflation of the fiscal year, which was charged to results.
The maximum nominal amount at any time outstanding of the Program of US$ 10,000 million or its equivalent in other currencies. Additionally, YPF is registered as a Frequent Issuer with the CNV under No.4 since December 2018. In 2019, the Company’s Board of Directors resolved to authorize an issuance amount of up to US$ 2,000 million or its equivalent in other currency under the Frequent Issuer regime. On January 7, 2021, the Company’s Board of Directors resolved to authorize an issuance amount of up to US$ 6,500 million or its equivalent in other currency under the Frequent Issuer regime.
| .
Details regarding the NO of the Group are as follows:
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2020 |  |  | 2019 |  |  | 2018 |
Month |  | Year |  |  | Principal value |  |  | Ref. |  | Class |  |  | Interest rate (3) |  |  | Principal Maturity |  |  | Noncurrent |  |  | Current |  |  | Noncurrent |  |  | Current |  |  | Noncurrent |  |  | Current |
YPF |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
— |  |  | 1998 |  |  | US$ | 15 |  |  | (1) (6) |  |  | — |  |  | Fixed |  |  | 10.00 | % |  |  | 2028 |  |  |  | 1,245 |  |  |  | 20 |  |  |  | 886 |  |  |  | 15 |  |  |  | 557 |  |  |  | 9 |
April |  |  | 2013 |  |  | $ | 2,250 |  |  | (2) (4) (6) (7) |  |  | Class XVII |  |  | — |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,217 |  |  |  | 1,125 |  |  |  | 1,330 |
June |  |  | 2013 |  |  | $ | 1,265 |  |  | (2) (4) (6) |  |  | Class XX |  |  | — |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 643 |  |  |  | 633 |  |  |  | 657 |
July |  |  | 2013 |  |  | US$ | 92 |  |  | (2) (5) (6) |  |  | Class XXII |  |  | — |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 729 |  |  |  | 456 |  |  |  | 461 |
April, February and October |  |  | 2014/5/6 |  |  | US$ | 1,522 |  |  | (2) (4) (6) |  |  | Class XXVIII |  |  | Fixed |  |  | 8.75 | % |  |  | 2024 |  |  |  | 127,938 |  |  |  | 2,705 |  |  |  | 91,010 |  |  |  | 1,925 |  |  |  | 57,233 |  |  |  | 1,210 |
March |  |  | 2014 |  |  | $ | 500 |  |  | (2) (6) (7) |  |  | Class XXIX |  |  | — |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 206 |  |  |  | 200 |  |  |  | 162 |
September |  |  | 2014 |  |  | $ | 1,000 |  |  | (2) (6) (7) |  |  | Class XXXIV |  |  | BADLAR plus 0.1% |  |  | 32.11 | % |  |  | 2024 |  |  |  | 500 |  |  |  | 224 |  |  |  | 667 |  |  |  | 279 |  |  |  | 833 |  |  |  | 299 |
September |  |  | 2014 |  |  | $ | 750 |  |  | (2) (4) (6) |  |  | Class XXXV |  |  | — |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 571 |
February |  |  | 2015 |  |  | $ | 950 |  |  | (2) (6) (7) |  |  | Class XXXVI |  |  | — |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,161 |  |  |  | 950 |  |  |  | 187 |
April |  |  | 2015 |  |  | $ | 935 |  |  | (2) (4) (6) |  |  | Class XXXVIII |  |  | — |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 349 |  |  |  | 312 |  |  |  | 390 |
April |  |  | 2015 |  |  | US$ | 1,500 |  |  | (2) (6) |  |  | Class XXXIX |  |  | Fixed |  |  | 8.50 | % |  |  | 2025 |  |  |  | 126,075 |  |  |  | 4,554 |  |  |  | 89,416 |  |  |  | 3,230 |  |  |  | 56,062 |  |  |  | 2,025 |
September |  |  | 2015 |  |  | $ | 1,900 |  |  | (2) (6) (7) |  |  | Class XLI |  |  | — |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 719 |  |  |  | 633 |  |  |  | 801 |
September and December |  |  | 2015/9 |  |  | $ | 5,196 |  |  | (2) (4) (6) |  |  | Class XLII |  |  | — |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 5,952 |  |  |  | 1,697 |  |  |  | 243 |
October |  |  | 2015 |  |  | $ | 2,000 |  |  | (2) (6) (7) |  |  | Class XLIII |  |  | BADLAR |  |  | 32.80 | % |  |  | 2023 |  |  |  | 1,333 |  |  |  | 794 |  |  |  | 2,000 |  |  |  | 183 |  |  |  | 2,000 |  |  |  | 196 |
March and January |  |  | 2016/20 |  |  | $ | 5,455 |  |  | (2) (4) (6) |  |  | Class XLVI |  |  | B BADLAR plus 6% |  |  | 37.63 | % |  |  | 2021 |  |  |  | — |  |  |  | 6,116 |  |  |  | 1,350 |  |  |  | 251 |  |  |  | 1,350 |  |  |  | 234 |
March |  |  | 2016 |  |  | US$ | 1,000 |  |  | (2) (6) |  |  | Class XLVII |  |  | Fixed |  |  | 8.50 | % |  |  | 2021 |  |  |  | — |  |  |  | 35,488 |  |  |  | 59,790 |  |  |  | 1,383 |  |  |  | 37,600 |  |  |  | 870 |
April |  |  | 2016 |  |  | US$ | 46 |  |  | (2) (5) (6) |  |  | Class XLVIII |  |  | — |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2,785 |  |  |  | 1,723 |  |  |  | 29 |
April |  |  | 2016 |  |  | $ | 535 |  |  | (2) (6) |  |  | Class XLIX |  |  | — |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 593 |  |  |  | 535 |  |  |  | 62 |
July |  |  | 2016 |  |  | $ | 11,248 |  |  | (2) (6) (8) |  |  | Class L |  |  | — |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 12,902 |  |  |  | 11,248 |  |  |  | 1,238 |
September |  |  | 2016 |  |  |  | CHF300 |  |  | (2) (6) |  |  | Class LI |  |  | — |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 11,563 |
May |  |  | 2017 |  |  | $ | 4,602 |  |  | (2) (6) (8) |  |  | Class LII |  |  | Fixed |  |  | 16.50 | % |  |  | 2022 |  |  |  | 4,602 |  |  |  | 110 |  |  |  | 4,602 |  |  |  | 108 |  |  |  | 4,602 |  |  |  | 110 |
July and December |  |  | 2017 |  |  | US$ | 1,000 |  |  | (2) (6) |  |  | Class LIII |  |  | Fixed |  |  | 6.95 | % |  |  | 2027 |  |  |  | 84,920 |  |  |  | 2,588 |  |  |  | 60,399 |  |  |  | 1,890 |  |  |  | 38,024 |  |  |  | 1,180 |
December |  |  | 2017 |  |  | US$ | 750 |  |  | (2) (6) |  |  | Class LIV |  |  | Fixed |  |  | 7.00 | % |  |  | 2047 |  |  |  | 62,309 |  |  |  | 176 |  |  |  | 44,311 |  |  |  | 126 |  |  |  | 27,855 |  |  |  | 70 |
June |  |  | 2019 |  |  | US$ | 500 |  |  | (6) (9) |  |  | Class I |  |  | Fixed |  |  | 8.50 | % |  |  | 2029 |  |  |  | 41,828 |  |  |  | 40 |  |  |  | 29,748 |  |  |  | 17 |  |  |  | — |  |  |  | — |
December |  |  | 2019 |  |  | $ | 1,683 |  |  | (6) (9) |  |  | Class II |  |  | — |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,729 |  |  |  | — |  |  |  | — |
December, April, May and June |  |  | 2019/20 |  |  | $ | 3,708 |  |  | (6) (9) |  |  | Class III |  |  | — |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,189 |  |  |  | — |  |  |  | — |
December |  |  | 2019 |  |  | US$ | 19 |  |  | (5) (6) (9) |  |  | Class IV |  |  | — |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,179 |  |  |  | — |  |  |  | — |
January |  |  | 2020 |  |  | $ | 2,112 |  |  | (6) (9) |  |  | Class V |  |  | BADLAR plus 5% |  |  | 37.98 | % |  |  | 2021 |  |  |  | — |  |  |  | 2,261 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
January and March |  |  | 2020 |  |  | $ | 5,006 |  |  | (6) (9) |  |  | Class VI |  |  | BADLAR plus 6% |  |  | 38.98 | % |  |  | 2021 |  |  |  | — |  |  |  | 5,366 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
January |  |  | 2020 |  |  | US$ | 10 |  |  | (5) (6) (9) |  |  | Class VII |  |  | Fixed |  |  | 5.00 | % |  |  | 2021 |  |  |  | — |  |  |  | 840 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
March |  |  | 2020 |  |  | US$ | 9 |  |  | (6) (9) |  |  | Class VIII |  |  | Fixed |  |  | 5.00 | % |  |  | 2021 |  |  |  | — |  |  |  | 755 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
March |  |  | 2020 |  |  | US$ | 4 |  |  | (6) (9) |  |  | Class IX |  |  | Fixed |  |  | 6.00 | % |  |  | 2021 |  |  |  | — |  |  |  | 331 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
May |  |  | 2020 |  |  | US$ | 93 |  |  | (5) (6) (9) |  |  | Class XI |  |  | Fixed |  |  | 0.00 | % |  |  | 2021 |  |  |  | — |  |  |  | 7,836 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
June |  |  | 2020 |  |  | US$ | 78 |  |  | (5) (6) (9) |  |  | Class XII |  |  | Fixed |  |  | 1.50 | % |  |  | 2022 |  |  |  | 6,587 |  |  |  | 5 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
July |  |  | 2020 |  |  | US$ | 543 |  |  | (6) (9) |  |  | Class XIII |  |  | Fixed |  |  | 8.50 | % |  |  | 2025 |  |  |  | 39,784 |  |  |  | 6,706 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
December |  |  | 2020 |  |  | US$ | 68 |  |  | (5) (6) (9) |  |  | Class XIV |  |  | Fixed |  |  | 2.00 | % |  |  | 2023 |  |  |  | 5,691 |  |  |  | 8 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
December |  |  | 2020 |  |  | $ | 2,316 |  |  | (6) (9) |  |  | Class XV |  |  | BADLAR plus 5% |  |  | 39.13 | % |  |  | 2021 |  |  |  | — |  |  |  | 2,383 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Metrogas |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
December |  |  | 2018 |  |  | $ | 513 |  |  | — |  |  | Class II |  |  | — |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 519 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 502,812 |  |  |  | 79,306 |  |  |  | 384,179 |  |  |  | 40,760 |  |  |  | 245,628 |  |  |  | 24,416 |
(1) | Corresponds to the 1997 M.T.N. Program for US$1,000 million.
(2) | Corresponds to the 2008 M.T.N. Program for US$ 10,000 million.
(3) | Nominal annual Interest rate as of December 31, 2020.
(4) | The ANSES and/or the “Fondo Argentino de Hidrocarburos” have participated in the primary subscription of these NO, which may at the discretion of the respective holders, be subsequently traded on the securities market where these negotiable obligations are authorized to be traded.
(5) | The payment currency of these Negotiable Obligations is the Peso at the Exchange rate applicable under the terms of the series issued.
(6) | As of the date of issuance of these financial statements, the Group has fully complied with the use of proceeds disclosed in the corresponding pricing supplements.
(7) | NO classified as productive investments computable as such for the purposes of section 35.8.1, paragraph K of the General Regulations applicable to Insurance Activities issued by the Argentine Insurance Supervisory Bureau.
(8) | The payment currency of this issue is the dollar at the exchange rate applicable in accordance with the conditions of the relevant issued series.
(9) | Corresponds to the Frequent Issuer program.
Exchange of NO On July 2, 2020, YPF offered Class XIII NO denominated in dollars, accruing interest at a fixed rate of 8.5% redeemable, maturing in 2025, for a nominal value of up to US$ 950 million and a payment of US$ 100 in cash for each US$ 1,000 in principal amount, to be issued in exchange for Class XLVII NO issued on March 23, 2016 for a nominal value of US$ 1,000 million, maturing in 2021. In addition, on July 13, 2020, YPF announced certain changes related to the offering, offering Class XIII NO for a nominal value of up to US$ 925 million and a payment of US$ 125 in cash for each US$ 1,000 in principal amount. On July 31, 2020, the operation finally expired. The nominal value of the Class XLVII NO submitted to the exchange amounted to US$ 587.3 million, representing an adhesion of 58.73%. As a result of the transaction, YPF issued Class XIII NO for US$ 542.8 million and paid approximately US$ 90 million in cash (including accrued and unpaid interests on Class XLVII NO). YPF assessed whether the instruments subject to exchange were substantially different, considering both qualitative (e.g., currency, term and rate) and quantitative aspects (if the discounted present value of the cash flows under the new terms, including any fees paid net of any fees received, and discounted using the original effective interest rate, is at least 10% different from the discounted present value of the remaining cash flows of the original financial liability). In this regard, the Company recognizes the exchange of the NO as a modification due to the fact that the instruments subject to exchange are not substantially different. As a result of the transaction, YPF recognized a loss of 2,097 (see Note 27).

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- Definition The disclosure of loans and advances to banks. [Refer: Loans and advances to banks] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2020-01-01 -Paragraph 10 -Subparagraph e -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2020-en-r&anchor=para_10_e&doctype=Standard -URIDate 2020-01-01 + Details
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- Definition Text block [abstract] + References No definition available. + Details
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Namespace Prefix: | ypf_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration