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DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2020

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, 2020 and 2019 were as follows:

						As of December 31,
						2020						2019
Contracts with positive fair value
Foreign exchange contracts						1,572						1,196
						1,572						1,196
Contracts with negative fair value
Interest rate swap contracts						(523)						(17)
Foreign exchange contracts						(5,835)						(3,007)
						(6,358)						(3,024)

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, 2018						679						(202)						477
(Decrease) / Increase						(475)						142						(333)
Reclassification to income statement						(276)						83						(193)
At December 31, 2019						(72)						23						(49)
(Decrease) / Increase						(454)						136						(318)
Reclassification to income statement						188						(56)						132
At December 31, 2020						(338)						103						(235)

The net fair values of the exchange rate derivative contracts as of December 31, 2020 and December 31, 2019 were as follows:

																		Fair value at December 31,
Currencies						Contract						Notional amount						2020						2019
EUR/$						ND Forward - Buy EUR						53.7 million EUR						1,572						1,196
COP/$						ND Forward - Sell COP						291.5 billion COP						(5,835)						(3,007)
																		(4,263)						(1,811)

COP: Colombian pesos; EUR: E.U. euros; $: U.S. dollars.

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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
-Name IFRS
-Number 7
-IssueDate 2020-01-01
-Paragraph 24A
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2020-en-r&anchor=para_24A&doctype=Standard
-URIDate 2020-01-01

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- References

No definition available.

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