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DERIVATIVE FINANCIAL INSTRUMENTS (Tables) | 12 Months Ended
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Dec. 31, 2018
Disclosure of detailed information about financial instruments [abstract] |
Disclosure of detailed information about hedging instruments | The net fair values of derivative financial instruments at December 31, 2018 and 2017 were as follows:
| As of December 31,
| 2018 |  | 2017
Contracts with positive fair value |  |  |
Interest rate swap contracts | 818 |  |  | 302 |
Foreign exchange contracts | 770 |  |  | 2,002 |
| 1,588 |  |  | 2,304 |
Contracts with negative fair value |  |  |
Foreign exchange contracts | (12,981 | ) |  | (6,001 | )
| (12,981 | ) |  | (6,001 | )
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, 2016 | 75 |  |  | (22 | ) |  | 53 |
(Decrease) / Increase | 363 |  |  | 3 |  |  | 366 |
Reclassification to income statement | 372 |  |  | (110 | ) |  | 262 |
At December 31, 2017 | 810 |  |  | (129 | ) |  | 681 |
(Decrease) / Increase | (14 | ) |  | (108 | ) |  | (122 | )
Reclassification to income statement | (117 | ) |  | 35 |  |  | (82 | )
At December 31, 2018 | 679 |  |  | (202 | ) |  | 477 |
The net fair values of the exchange rate derivative contracts as of December 31, 2018 and December 31, 2017 were as follows:
|  |  |  |  |  | Fair value at December 31,
Currencies |  | Contract |  | Notional amount |  | 2018 |  | 2017
EUR/$ |  | ND Forward - Buy EUR |  | 212.9 million EUR |  | (12,954 | ) |  | 224 |
BRL/$ |  | ND Forward - Buy BRL |  | 34.5 million BRL |  | (493 | ) |  | 1,514 |
EUR/$ |  | ND Forward - Sell EUR |  | 1.9 million EUR |  | (27 | ) |  | — |
BRL/$ |  | ND Forward - Sell BRL |  | 32.0 million BRL |  | 1,154 |  |  | 247 |
COP/$ |  | ND Forward - Sell COP |  | 194.9 billion COP |  | 109 |  |  | 17 |
ARS/$ |  | ND Forward - Buy ARS |  | 6.4 billion ARS |  | — |  |  | (6,534 | )
ARS/$ |  | ND Forward - Sell ARS |  | 187.0 million ARS |  | — |  |  | 533 |
|  |  |  |  |  | (12,211 | ) |  | (3,999 | )
ARS: Argentine pesos; COP: Colombian pesos; EUR: E.U. euros; $: U.S. dollars; BRL: Brazilian reais.

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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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