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DERIVATIVE FINANCIAL INSTRUMENTS (Tables) | 12 Months Ended
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Dec. 31, 2017
Disclosure of detailed information about financial instruments [abstract] |
Disclosure of detailed information about hedging instruments | The net fair values of the exchange rate derivative contracts as of December 31, 2017 and December 31, 2016 were as follows:
|  |  |  |  |  | Fair value at December 31,
Currencies |  | Contract |  | Notional amount |  | 2017 |  | 2016
ARS/USD |  | ND Forward - Buy ARS |  | 6.4 billion ARS |  | (6,534 | ) |  | 316 |
ARS/USD |  | ND Forward - Sell ARS |  | 187.0 million ARS |  | 533 |  |  | — |
COP/USD |  | ND Forward - Sell COP |  | 65.7 billion COP |  | 17 |  |  | — |
EUR/USD |  | ND Forward - Buy EUR |  | 39.0 million EUR |  | 224 |  |  | — |
BRL/USD |  | ND Forward - Buy BRL |  | 67.2 million BRL |  | 1,514 |  |  | — |
BRL/USD |  | ND Forward - Sell BRL |  | 61.1 million BRL |  | 247 |  |  | — |
EUR/USD |  | ND Forward - Sell EUR |  | 5.3 million EUR |  | — |  |  | (30 | )
|  |  |  |  |  | (3,999 | ) |  | 286 |
ARS: Argentine pesos; COP: Colombian pesos; EUR: Euros; USD: US dollars; BRL: Brazilian real. The net fair values of derivative financial instruments at December 31, 2017 and 2016 were as follows:
| As of December 31,
| 2017 |  | 2016
Contracts with positive fair value |  |  |
Interest rate swap contracts | 302 |  |  | — |
Foreign exchange contracts | 2,002 |  |  | 316 |
| 2,304 |  |  | 316 |
Contracts with negative fair value |  |  |
Interest rate swap contracts | — |  |  | (257 | )
Foreign exchange contracts | (6,001 | ) |  | (30 | )
| (6,001 | ) |  | (287 | )
Changes in fair value of derivative instruments designated as cash flow hedges for each of the years presented are included below:
| Cash flow hedges
| Gross amount |  | Income tax |  | Total
At December 31, 2015 | (566 | ) |  | 170 |  |  | (396 | )
(Decrease) / Increase | (179 | ) |  | 54 |  |  | (125 | )
Reclassification to income statement | 820 |  |  | (246 | ) |  | 574 |
At December 31, 2016 | 75 |  |  | (22 | ) |  | 53 |
(Decrease) / Increase | 363 |  |  | 3 |  |  | 366 |
Reclassification to income statement | 372 |  |  | (110 | ) |  | 262 |
At December 31, 2017 | 810 |  |  | (129 | ) |  | 681 |

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- Definition The disclosure of detailed information about hedging instruments. [Refer: Hedging instruments [member]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Note Effective 2018-01-01 -Name IFRS -Number 7 -IssueDate 2017-01-01 -Paragraph 24A -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=7&date=2017-03-01&anchor=para_24A&doctype=Standard -URIDate 2017-03-09 + Details
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