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DERIVATIVE FINANCIAL INSTRUMENTS (Tables)
 12 Months Ended
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