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DETAIL OF SIGNIFICANT STATEMENT OF FINANCIAL POSITION AND STATEMENT OF COMPREHENSIVE INCOME CAPTIONS (Tables) | 12 Months Ended
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Dec. 31, 2017
DETAIL OF SIGNIFICANT STATEMENT OF FINANCIAL POSITION AND STATEMENT OF COMPREHENSIVE INCOME CAPTIONS [Abstract] |
Other Receivables |
| a) | Other receivables
|  | 2017 |  |  | 2016 |
|  | Current |  |  | Non Current |  |  | Current |  |  | Non Current |
Turnover tax credit balance |  |  | - |  |  |  | - |  |  |  | 1,074 |  |  |  | - |
Income tax credit balance |  |  | - |  |  |  | - |  |  |  | 962 |  |  |  | - |
VAT credit balance |  |  | 105,367 |  |  |  | - |  |  |  | 101,460 |  |  |  | - |
Other tax receivables (1) |  |  | 7,229 |  |  |  | 2,564 |  |  |  | 15,430 |  |  |  | 68,686 |
Prepaid expenses |  |  | 21,783 |  |  |  | - |  |  |  | 20,124 |  |  |  | - |
Advances to suppliers |  |  | 375,505 |  |  |  | - |  |  |  | 70,203 |  |  |  | - |
Subsidies receivables |  |  | 173,311 |  |  |  | - |  |  |  | 156,399 |  |  |  | - |
Easements to be recovered |  |  | - |  |  |  | 461 |  |  |  | - |  |  |  | 461 |
Other Receivables UT |  |  | 2,247 |  |  |  | - |  |  |  | - |  |  |  | - |
Others |  |  | 9,874 |  |  |  | 9,081 |  |  |  | 12,620 |  |  |  | 6,318 |
Total |  |  | 695,316 |  |  |  | 12,106 |  |  |  | 378,272 |  |  |  | 75,465 |
(1) | As of December 31, 2016 other non current tax receivables include Ps. 65,539 of income tax and VAT credits generated by the reversion of the tariff increase credit .
The breakdown of other receivables based on its currency of origin is the following:
|  | 2017 |  |  | 2016 |
|  | Current |  |  | Non Current |  |  | Current |  |  | Non Current |
Argentine Pesos |  |  | 650,186 |  |  |  | 12,106 |  |  |  | 359,103 |  |  |  | 75,465 |
U.S. Dollars |  |  | 45,130 |  |  |  | - |  |  |  | 19,169 |  |  |  | - |
Total |  |  | 695,316 |  |  |  | 12,106 |  |  |  | 378,272 |  |  |  | 75,465 |
Trade Receivables |
| b) | Trade receivables
|  | 2017 |  |  | 2016 |
|  | Current |  |  | Non Current |  |  | Current |  |  | Non Current |
Ordinary |  |  | 2,008,861 |  |  |  | 3,055 |  |  |  | 1,128,454 |  |  |  | 8,122 |
Natural Gas Transportation |  |  | 890,370 |  |  |  | - |  |  |  | 405,388 |  |  |  | - |
Production and Commercialization of Liquids |  |  | 909,065 |  |  |  | - |  |  |  | 550,596 |  |  |  | - |
Other services |  |  | 209,426 |  |  |  | 3,055 |  |  |  | 172,470 |  |  |  | 8,122 |
Related parties |  |  | 24,679 |  |  |  | - |  |  |  | 117,688 |  |  |  |  |
Natural Gas Transportation |  |  | 9,687 |  |  |  | - |  |  |  | 5,544 |  |  |  | - |
Other services |  |  | 14,992 |  |  |  | - |  |  |  | 112,144 |  |  |  | - |
Allowance for doubtful accounts |  |  | - |  |  |  | - |  |  |  | (19,703 | ) |  |  | - |
Total |  |  | 2,033,540 |  |  |  | 3,055 |  |  |  | 1,226,439 |  |  |  | 8,122 |
The breakdown of trade receivables based on its currency of origin is the following:
|  | 2017 |  |  | 2016 |
|  | Current |  |  | Non Current |  |  | Current |  |  | Non Current |
Argentine Pesos |  |  | 960,693 |  |  |  | - |  |  |  | 568,500 |  |  |  | - |
U.S. Dollars |  |  | 1,072,847 |  |  |  | 3,055 |  |  |  | 657,939 |  |  |  | 8,122 |
Total |  |  | 2,033,540 |  |  |  | 3,055 |  |  |  | 1,226,439 |  |  |  | 8,122 |
The movement of the allowance for doubtful accounts is as follows:
Balances as of December 31, 2015 |  |  | 1,389 |
Additions (1) |  |  | 19,703 |
Applications |  |  | (1,389 | )
Reversals |  |  | - |
Balances as of December 31, 2016 |  |  | 19,703 |
Additions |  |  | - |
Applications |  |  | - |
Reversals (1) |  |  | (19,703 | )
Balances as of December 31, 2017 |  |  | - |
(1) | The total amount is recorded in Selling Expenses
Cash and Cash Equivalents |
| c) | Cash and cash equivalents
|  | 2017 |  |  | 2016 |
Cash and banks |  |  | 664,910 |  |  |  | 650,248 |
UT Cash and banks |  |  | 471 |  |  |  | - |
Mutual funds |  |  | 1,263,969 |  |  |  | 901,680 |
Bank account |  |  | 659,448 |  |  |  | 3,161 |
UT Mutual funds |  |  | 64,005 |  |  |  | - |
Total |  |  | 2,652,803 |  |  |  | 1,555,089 |
The breakdown of cash and cash equivalents based on its currency of origin is the following:
|  | 2017 |  |  | 2016 |
Argentine Pesos |  |  | 1,340,795 |  |  |  | 921,768 |
U.S. Dollars |  |  | 1,312,008 |  |  |  | 633,321 |
Total |  |  | 2,652,803 |  |  |  | 1,555,089 |
Advances from Customers |
| d) | Advances from customers
|  | 2017 |  |  | 2016 |
|  | Current |  |  | Non Current |  |  | Current |  |  | Non Current |
Aluar Aluminio Argentino S.A.C.I. ("Aluar") |  |  | 6,742 |  |  |  | 138,238 |  |  |  | 6,742 |  |  |  | 144,980 |
Advances from customers -UT- |  |  | 59,868 |  |  |  | - |  |  |  | - |  |  |  | - |
Total Austral S.A. ("Total Austral") |  |  | - |  |  |  | - |  |  |  | 795 |  |  |  | - |
YPF S.A. ("YPF") |  |  | 2,526 |  |  |  | 4,517 |  |  |  | 2,434 |  |  |  | 6,947 |
Pan American Sur S.A. ("PAS") |  |  | - |  |  |  | - |  |  |  | 530 |  |  |  | - |
Pan American Energy L.L.C. ("PAE") |  |  | 2,182 |  |  |  | 56,805 |  |  |  | 2,182 |  |  |  | 58,976 |
PBB Polisur S.A. ("Polisur") |  |  | 5,115 |  |  |  | 94,804 |  |  |  | 3,905 |  |  |  | 98,531 |
Otros |  |  | 4,571 |  |  |  | 3,805 |  |  |  | 21,006 |  |  |  | 4,252 |
Total |  |  | 81,004 |  |  |  | 298,169 |  |  |  | 37,594 |  |  |  | 313,686 |
Other Payables |
| e) | Other payables
|  | 2017 |  |  | 2016 |
|  | Current |  |  | Non Current |  |  | Current |  |  | Non Current |
Payable for compensation for the Board of Directors and Supervisory Commitee |  |  | - |  |  |  | - |  |  |  | 2,334 |  |  |  | - |
Justice fee payable |  |  | 31,882 |  |  |  | - |  |  |  | - |  |  |  | - |
Others |  |  | 1,665 |  |  |  | - |  |  |  | 1,482 |  |  |  | - |
Total |  |  | 33,547 |  |  |  | - |  |  |  | 3,816 |  |  |  | - |
Tax Payables |
| f) | Taxes payables
|  | 2017 |  |  | 2016 |
|  | Current |  |  | Non Current |  |  | Current |  |  | Non Current |
Withholdings and perceptions made to third parties |  |  | 54,014 |  |  |  | - |  |  |  | 43,687 |  |  |  | - |
Tax on exports |  |  | 638 |  |  |  | - |  |  |  | 2,299 |  |  |  | - |
Turnover Tax |  |  | 28,862 |  |  |  | - |  |  |  | 4,570 |  |  |  | - |
Others |  |  | 13,043 |  |  |  | - |  |  |  | 8,636 |  |  |  | - |
Total |  |  | 96,557 |  |  |  | - |  |  |  | 59,192 |  |  |  | - |
Trade Payables |
| g) | Trade payables
|  | 2017 |  |  | 2016 |
|  | Current |  |  | Non Current |  |  | Current |  |  | Non Current |
Suppliers |  |  | 1,332,298 |  |  |  | - |  |  |  | 911,318 |  |  |  | - |
UT Suppliers |  |  | 7,610 |  |  |  | - |  |  |  | - |  |  |  | - |
Customers (credit balances) |  |  | 10,736 |  |  |  | - |  |  |  | 8,592 |  |  |  | - |
Related companies |  |  | 102,659 |  |  |  | - |  |  |  | 41,338 |  |  |  | - |
Total |  |  | 1,453,303 |  |  |  | - |  |  |  | 961,248 |  |  |  | - |
The breakdown of trade payables based on its currency of origin is the following:
|  | 2017 |  |  | 2016 |
|  | Current |  |  | Non Current |  |  | Current |  |  | Non Current |
Argentine Pesos |  |  | 614,699 |  |  |  | - |  |  |  | 290,245 |  |  |  | - |
U.S. Dollars |  |  | 838,604 |  |  |  | - |  |  |  | 671,003 |  |  |  | - |
Total |  |  | 1,453,303 |  |  |  | - |  |  |  | 961,248 |  |  |  | - |
Cost of Sales |
| h) | Cost of sales
|  | 2017 |  |  | 2016 |  |  | 2015 |
Inventories at the beginning of the year |  |  | 116,863 |  |  |  | 8,452 |  |  |  | 29,131 |
Purchases |  |  | 3,718,129 |  |  |  | 2,868,189 |  |  |  | 1,574,999 |
Operating costs (Note 8.i.) |  |  | 2,794,321 |  |  |  | 1,676,137 |  |  |  | 1,164,227 |
Inventories at the end of the year |  |  | (105,996 | ) |  |  | (116,863 | ) |  |  | (8,452 | )
Total |  |  | 6,523,317 |  |  |  | 4,435,915 |  |  |  | 2,759,905 |
Expenses by Nature | Expenses by nature – Information required under art. 64 paragraph I, clause B) Commercial Companies Law
|  | 2017 |
|  |  |  |  | Operating expenses |  |  |  |  |  |  |  |  |  |
Accounts |  | Total |  |  | Regulated Activities |  |  | Non Regulated Activities |  |  | Administrative expenses |  |  | Selling expenses |  |  | Financial expenses |
Salaries, wages and other compensations |  |  | 1,104,770 |  |  |  | 530,892 |  |  |  | 289,732 |  |  |  | 222,528 |  |  |  | 61,618 |  |  |  | - |
Social security taxes |  |  | 188,424 |  |  |  | 82,847 |  |  |  | 49,461 |  |  |  | 42,825 |  |  |  | 13,291 |  |  |  | - |
Compensation to Directors and Supervisory Committee |  |  | 8,455 |  |  |  | - |  |  |  | - |  |  |  | 8,455 |  |  |  | - |  |  |  | - |
Professional services fees |  |  | 61,786 |  |  |  | 1,504 |  |  |  | 3,055 |  |  |  | 52,109 |  |  |  | 5,118 |  |  |  | - |
Technical operator assistance fees |  |  | 354,518 |  |  |  | 160,095 |  |  |  | 194,423 |  |  |  | - |  |  |  | - |  |  |  | - |
Materials |  |  | 59,949 |  |  |  | 18,602 |  |  |  | 41,347 |  |  |  | - |  |  |  | - |  |  |  | - |
Third parties services |  |  | 128,072 |  |  |  | 52,922 |  |  |  | 63,530 |  |  |  | 10,519 |  |  |  | 1,101 |  |  |  | - |
Telecommunications and post expenses |  |  | 9,936 |  |  |  | 1,323 |  |  |  | 1,217 |  |  |  | 6,912 |  |  |  | 484 |  |  |  | - |
Rents |  |  | 6,827 |  |  |  | 1,980 |  |  |  | 962 |  |  |  | 3,407 |  |  |  | 478 |  |  |  | - |
Transports and freight |  |  | 35,514 |  |  |  | 21,124 |  |  |  | 12,056 |  |  |  | 2,314 |  |  |  | 20 |  |  |  | - |
Easements |  |  | 21,490 |  |  |  | 21,490 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Offices supplies |  |  | 3,450 |  |  |  | 1,041 |  |  |  | 368 |  |  |  | 1,589 |  |  |  | 452 |  |  |  | - |
Travels expenses |  |  | 19,325 |  |  |  | 8,643 |  |  |  | 3,174 |  |  |  | 5,613 |  |  |  | 1,895 |  |  |  | - |
Insurance |  |  | 32,262 |  |  |  | 18,848 |  |  |  | 10,724 |  |  |  | 2,413 |  |  |  | 277 |  |  |  | - |
Property, plant and equipment maintenance |  |  | 640,468 |  |  |  | 554,602 |  |  |  | 80,590 |  |  |  | 5,276 |  |  |  | - |  |  |  | - |
Depreciation of property, plant and equipment |  |  | 358,420 |  |  |  | 219,245 |  |  |  | 112,693 |  |  |  | 26,482 |  |  |  | - |  |  |  | - |
Taxes and contributions |  |  | 566,058 |  |  |  | 131,187 |  |  |  | 7,943 |  |  |  | 719 |  |  |  | 426,209 | (1) |  |  | - |
Advertising |  |  | 479 |  |  |  | - |  |  |  | 3 |  |  |  | - |  |  |  | 476 |  |  |  | - |
Doubtful accounts |  |  | (12,055 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (12,055 | ) |  |  | - |
Banks expenses |  |  | 4,438 |  |  |  | - |  |  |  | - |  |  |  | 4,438 |  |  |  | - |  |  |  | - |
Interests expense |  |  | 469,325 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 469,325 |
Foreign exchange loss |  |  | 717,234 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 717,234 |
Other financial charges |  |  | 103,586 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 103,586 |
Derivative financial instruments results |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Costs of services rendered to third parties |  |  | 69,059 |  |  |  | - |  |  |  | 69,059 |  |  |  | - |  |  |  | - |  |  |  | - |
Transactions among business segments |  |  | - |  |  |  | (150,388 | ) |  |  | 150,388 |  |  |  | - |  |  |  | - |  |  |  | - |
Other expenses |  |  | 35,580 |  |  |  | 19,206 |  |  |  | 8,433 |  |  |  | 7,396 |  |  |  | 545 |  |  |  | - |
Year ended December 31, 2017 |  |  | 4,987,370 |  |  |  | 1,695,163 |  |  |  | 1,099,158 |  |  |  | 402,995 |  |  |  | 499,909 |  |  |  | 1,290,145 |
(1) | Includes tax on exports of Ps. 700 for year ended December 31,2017
|  | 2016 |
|  |  |  |  | Operating expenses |  |  |  |  |  |  |  |  |  |
Accounts |  | Total |  |  | Regulated Activities |  |  | Non Regulated Activities |  |  | Administrative expenses |  |  | Selling expenses |  |  | Financial expenses |
Salaries, wages and other contributions |  |  | 814,731 |  |  |  | 403,546 |  |  |  | 200,403 |  |  |  | 163,999 |  |  |  | 46,783 |  |  |  | - |
Social security taxes |  |  | 139,356 |  |  |  | 64,518 |  |  |  | 33,944 |  |  |  | 30,874 |  |  |  | 10,020 |  |  |  | - |
Compensation to Directors and Supervisory Committee |  |  | 6,328 |  |  |  | - |  |  |  | - |  |  |  | 6,328 |  |  |  | - |  |  |  | - |
Professional services fees |  |  | 41,392 |  |  |  | 1,434 |  |  |  | 3,645 |  |  |  | 32,657 |  |  |  | 3,656 |  |  |  | - |
Technical operator assistance fees |  |  | 168,008 |  |  |  | 54,128 |  |  |  | 113,880 |  |  |  | - |  |  |  | - |  |  |  | - |
Materials |  |  | 43,205 |  |  |  | 14,153 |  |  |  | 29,052 |  |  |  | - |  |  |  | - |  |  |  | - |
Third parties services |  |  | 94,185 |  |  |  | 37,014 |  |  |  | 49,257 |  |  |  | 7,914 |  |  |  | - |  |  |  | - |
Telecommunications and post expenses |  |  | 5,177 |  |  |  | 342 |  |  |  | 1,087 |  |  |  | 3,405 |  |  |  | 343 |  |  |  | - |
Rents |  |  | 3,219 |  |  |  | 722 |  |  |  | 252 |  |  |  | 2,099 |  |  |  | 146 |  |  |  | - |
Transports and freight |  |  | 27,614 |  |  |  | 17,020 |  |  |  | 9,846 |  |  |  | 709 |  |  |  | 39 |  |  |  | - |
Easements |  |  | 19,315 |  |  |  | 19,315 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Offices supplies |  |  | 2,679 |  |  |  | 917 |  |  |  | 305 |  |  |  | 1,223 |  |  |  | 234 |  |  |  | - |
Travels expenses |  |  | 9,972 |  |  |  | 4,832 |  |  |  | 1,550 |  |  |  | 2,742 |  |  |  | 848 |  |  |  | - |
Insurance |  |  | 26,509 |  |  |  | 15,048 |  |  |  | 9,330 |  |  |  | 1,771 |  |  |  | 360 |  |  |  | - |
Property, plant and equipment maintenance |  |  | 209,257 |  |  |  | 150,923 |  |  |  | 52,100 |  |  |  | 5,065 |  |  |  | 1,169 |  |  |  | - |
Depreciation of property, plant and equipment |  |  | 286,798 |  |  |  | 190,031 |  |  |  | 47,928 |  |  |  | 48,839 |  |  |  | - |  |  |  | - |
Taxes and contributions |  |  | 355,446 |  |  |  | 80,365 |  |  |  | 8,927 |  |  |  | 728 |  |  |  | 265,426 | (1) |  |  | - |
Advertising |  |  | 584 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 584 |  |  |  | - |
Doubtful accounts |  |  | 20,546 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 20,546 |  |  |  | - |
Banks expenses |  |  | 2,120 |  |  |  | - |  |  |  | - |  |  |  | 2,120 |  |  |  | - |  |  |  | - |
Interests expense |  |  | 431,561 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 431,561 |
Foreign exchange loss |  |  | 711,822 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 711,822 |
Other financial charges |  |  | 66,392 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 66,392 |
Derivative financial instruments |  |  | 8,933 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 8,933 |
Costs of services rendered to third parties |  |  | 40,453 |  |  |  | - |  |  |  | 40,453 |  |  |  | - |  |  |  | - |  |  |  | - |
Transactions among business segments |  |  | - |  |  |  | (71,079 | ) |  |  | 71,079 |  |  |  | - |  |  |  | - |  |  |  | - |
Other expenses |  |  | 28,136 |  |  |  | 13,908 |  |  |  | 5,962 |  |  |  | 4,906 |  |  |  | 3,360 |  |  |  | - |
Year ended December 31, 2016 |  |  | 3,563,738 |  |  |  | 997,137 |  |  |  | 679,000 |  |  |  | 315,379 |  |  |  | 353,514 |  |  |  | 1,218,708 |
(1) | Includes tax on exports of Ps . 11,081 for the year ended December 31, 2016.
|  | 2015 |
Accounts |  | Total |  |  | Regulated Activities |  |  | Operating expenses Non Regulated Activities |  |  | Administrative expenses |  |  | Selling expenses |  |  | Financial expenses |
Salaries, wages and other contributions |  |  | 564,489 |  |  |  | 295,429 |  |  |  | 121,264 |  |  |  | 114,577 |  |  |  | 33,219 |  |  |  | - |
Social security taxes |  |  | 98,812 |  |  |  | 46,067 |  |  |  | 19,839 |  |  |  | 25,962 |  |  |  | 6,944 |  |  |  | - |
Compensation to Directors and Supervisory Committee |  |  | 5,379 |  |  |  | - |  |  |  | - |  |  |  | 5,379 |  |  |  | - |  |  |  | - |
Professional services fees |  |  | 25,025 |  |  |  | 563 |  |  |  | 1,124 |  |  |  | 21,139 |  |  |  | 2,199 |  |  |  | - |
Technical operator assistance fees |  |  | 52,481 |  |  |  | 3,000 |  |  |  | 49,481 |  |  |  | - |  |  |  | - |  |  |  | - |
Materials |  |  | 29,113 |  |  |  | 10,545 |  |  |  | 18,568 |  |  |  | - |  |  |  | - |  |  |  | - |
Third parties services |  |  | 51,604 |  |  |  | 20,161 |  |  |  | 25,429 |  |  |  | 6,014 |  |  |  | - |  |  |  | - |
Telecommunications and post expenses |  |  | 4,161 |  |  |  | 445 |  |  |  | 778 |  |  |  | 2,714 |  |  |  | 224 |  |  |  | - |
Rents |  |  | 2,619 |  |  |  | 516 |  |  |  | 367 |  |  |  | 1,615 |  |  |  | 121 |  |  |  | - |
Transports and freight |  |  | 19,506 |  |  |  | 12,484 |  |  |  | 6,634 |  |  |  | 381 |  |  |  | 7 |  |  |  | - |
Easements |  |  | 15,003 |  |  |  | 15,003 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Offices supplies |  |  | 1,508 |  |  |  | 531 |  |  |  | 239 |  |  |  | 634 |  |  |  | 104 |  |  |  | - |
Travels expenses |  |  | 8,279 |  |  |  | 4,069 |  |  |  | 1,290 |  |  |  | 2,285 |  |  |  | 635 |  |  |  | - |
Insurance |  |  | 22,850 |  |  |  | 12,935 |  |  |  | 8,280 |  |  |  | 1,279 |  |  |  | 356 |  |  |  | - |
Property, plant and equipment maintenance |  |  | 137,814 |  |  |  | 105,054 |  |  |  | 28,791 |  |  |  | 3,262 |  |  |  | 707 |  |  |  | - |
Depreciation of property, plant and equipment |  |  | 261,393 |  |  |  | 184,251 |  |  |  | 66,734 |  |  |  | 10,408 |  |  |  | - |  |  |  | - |
Taxes and contributions |  |  | 261,712 |  |  |  | 60,094 |  |  |  | 4,999 |  |  |  | 524 |  |  |  | 196,095 | (1) |  |  | - |
Advertising |  |  | 154 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 154 |  |  |  | - |
Banks expenses |  |  | 1,430 |  |  |  | - |  |  |  | - |  |  |  | 1,430 |  |  |  | - |  |  |  | - |
Interests expense |  |  | 320,428 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 320,428 |
Foreign exchange loss |  |  | 1,164,585 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1,164,585 |
Other financial charges |  |  | 41,718 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 41,718 |
Costs of services rendered to third parties |  |  | 26,375 |  |  |  | - |  |  |  | 26,375 |  |  |  | - |  |  |  | - |  |  |  | - |
Transactions among business segments |  |  | - |  |  |  | (21,435 | ) |  |  | 21,435 |  |  |  | - |  |  |  | - |  |  |  | - |
Other expenses |  |  | 17,486 |  |  |  | 8,512 |  |  |  | 4,376 |  |  |  | 4,033 |  |  |  | 565 |  |  |  | - |
Year ended December 31, 2015 |  |  | 3,133,924 |  |  |  | 758,224 |  |  |  | 406,003 |  |  |  | 201,636 |  |  |  | 241,330 |  |  |  | 1,526,731 |
(1) | Includes tax on exports of Ps . 61,057 for the year ended December 31, 2015.
Net Financial Results |
| j) | Net financial results
|  | 2017 |  |  | 2016 |  |  | 2015 |
Financial income |  |  |  |  |  |  |  |  |
Derivative financial instrument results |  |  | - |  |  |  | - |  |  |  | 128,525 |
Interest income |  |  | 87,407 |  |  |  | 100,418 |  |  |  | 79,387 |
Fair value gains on financial instruments through profit or loss |  |  | 274,620 |  |  |  | 169,890 |  |  |  | 55,892 |
Foreign exchange gain |  |  | 360,158 |  |  |  | 135,039 |  |  |  | 288,764 |
Subtotal |  |  | 722,185 |  |  |  | 405,347 |  |  |  | 552,568 |
Financial expenses |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  |  | (516,643 | ) |  |  | (470,663 | ) |  |  | (343,104 | )
Foreign exchange loss |  |  | (718,891 | ) |  |  | (712,456 | ) |  |  | (1,165,803 | )
Derivative financial instrument results |  |  | - |  |  |  | (8,933 | ) |  |  | - |
Other financial charges |  |  | (103,586 | ) |  |  | (66,392 | ) |  |  | (41,718 | )
Less: Capitalized borrowing costs |  |  | 48,975 |  |  |  | 39,736 |  |  |  | 23,894 |
Subtotal |  |  | (1,290,145 | ) |  |  | (1,218,708 | ) |  |  | (1,526,731 | )
Total |  |  | (567,960 | ) |  |  | (813,361 | ) |  |  | (974,163 | )
Other Operating Expenses |
| k) | Other operating expenses
|  | 2017 |  |  | 2016 |  |  | 2015 |
Net increase in provisions (1) |  |  | (141,385 | ) |  |  | (95,840 | ) |  |  | (15,897 | )
Recovery of insurance |  |  | 107,543 |  |  |  | 19,703 |  |  |  | - |
Acquisition of the Rights of the Arbitration Proceeding (Note 16.a) |  |  | - |  |  |  | - |  |  |  | (324,390 | )
Write off of other receivables |  |  | (69,391 | ) |  |  | - |  |  |  | - |
Others |  |  | (1,144 | ) |  |  | 10,594 |  |  |  | 4,836 |
Total |  |  | (104,377 | ) |  |  | (65,543 | ) |  |  | (335,451 | )
(1) | Includes judicial costs
Other Financial Assets at Fair Value through Profit or Loss |
| l) | Other financial assets at fair value through profit or loss
|  | 2017 |  |  | 2016 |
|  | Current |  |  | Non Current |  |  | Current |  |  | Non Current |
Government bonds |  |  | 148,130 |  |  |  | - |  |  |  | 55,508 |  |  |  | 84,857 |
Private bonds |  |  | 72,099 |  |  |  | - |  |  |  | - |  |  |  | 58,015 |
Total |  |  | 220,229 |  |  |  | - |  |  |  | 55,508 |  |  |  | 142,872 |
Other Financial Assets at Amortized Cost |
| m) | Other financial assets at amortized cost
|  | 2017 |  |  | 2016 |
|  | Current |  |  | Non Current |  |  | Current |  |  | Non Current |
VRD bonds |  |  | 7,111 |  |  |  | 14,473 |  |  |  | 14,900 |  |  |  | 21,584 |
Government Bonds (Argentine National Treasury Notes) |  |  | 922,314 |  |  |  | - |  |  |  | - |  |  |  | - |
Government Bonds (Central Bank Notes) |  |  | 516,003 |  |  |  | - |  |  |  | - |  |  |  | - |
Total |  |  | 1,445,428 |  |  |  | 14,473 |  |  |  | 14,900 |  |  |  | 21,584 |
The breakdown of Other financial assets at amortized cost based on its currency of origin is the following:
|  | 2017 |  |  | 2016 |
|  | Current |  |  | Non Current |  |  | Current |  |  | Non Current |
Argentine Pesos |  |  | 523,114 |  |  |  | 14,473 |  |  |  | 14,900 |  |  |  | 21,584 |
U.S. Dollars |  |  | 922,314 |  |  |  | - |  |  |  | - |  |  |  | - |
Total |  |  | 1,445,428 |  |  |  | 14,473 |  |  |  | 14,900 |  |  |  | 21,584 |
Payroll and Social Security Taxes Payable |
| n) | Payroll and social security taxes payable
|  | 2017 |  |  | 2016 |
|  | Current |  |  | Non Current |  |  | Current |  |  | Non Current |
Vacation benefit payable |  |  | 104,739 |  |  |  | - |  |  |  | 82,476 |  |  |  | - |
Annual bonus payable |  |  | 84,895 |  |  |  | - |  |  |  | 50,788 |  |  |  | - |
Social security taxes payable |  |  | 45,573 |  |  |  | - |  |  |  | 35,595 |  |  |  | - |
Total |  |  | 235,207 |  |  |  | - |  |  |  | 168,859 |  |  |  | - |

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