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CONSOLIDATED BUSINESS SEGMENT INFORMATION | 12 Months Ended
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Dec. 31, 2017
CONSOLIDATED BUSINESS SEGMENT INFORMATION [Abstract] |
CONSOLIDATED BUSINESS SEGMENT INFORMATION |
| 7. | CONSOLIDATED BUSINESS SEGMENT INFORMATION
IFRS 8 “Operating Segments” requires an entity to report financial and descriptive information about its reportable segments, which are operating segments or aggregations of operating segments that meet specified criteria. Operating segments are components of an entity about which separate financial information is available that is evaluated regularly by the Chief Operating Decision Maker (“CODM”) in deciding how to allocate resources and in assessing performance. The Company’s CODM is the Board of Directors. The CODM evaluates the business based on the differences in the nature of the Company’s products and services. The business segment information is reported consistently with the information reviewed by the Board of Directors. The amount reported for each segment item is the measure reported to the CODM for these purposes. This measure is the operating profit / deficit. Operating segments identified are disclosed as reportable segments if they meet any of the following quantitative thresholds: Reported revenues of the operating segments are 10% or more of the combined revenue, internal and external, of all operating segments; The absolute amount of reported profit or loss is 10% or more of the greater, in absolute amount, of (i) the combined reported profit of all operating segments that did not report a loss and (ii) the combined reported loss of all operating segments that reported a loss. Assets are 10% or more of the combined assets of all operating segments As well as this, the operating segments that do not meet any of the quantitative thresholds can be considered as reportable segments if the management estimates that this information could be useful for the users of the financial statements. If, after determining reportable segments in accordance with the preceding quantitative thresholds, the total external revenue attributable to those segments amounts to less than 75% of the total Company’s consolidated external revenue, additional segments are identified as reportable segments, even if they do not meet the thresholds described above, until at least 75% of the Company’s consolidated external revenue is included in reportable segments. Segment information has been prepared and classified according to different types of businesses in which the Company conducts its activities. The four reportable segments are as follows: Natural Gas Transportation: Revenues of this business segment are derived mainly from firm contracts, under which pipeline capacity is reserved and paid for regardless of actual usage by the customer. The Company also provides interruptible natural gas transportation services and exchange and displacement services subject to available pipeline capacity. In addition, TGS renders operation and maintenance services of the Natural Gas Transportation facilities, which belong to certain gas trusts (fideicomisos de gas) created by the Argentine Government to expand the capacity of the Argentine natural gas transportation pipeline system (Note 17.c). This business segment is subject to ENARGAS regulation. Production and Commercialization of Liquids: Liquids production and commercialization activities are conducted at Cerri Complex, which is located, near the city of Bahía Blanca in the Province of Buenos Aires. In the Cerri Complex, ethane, LPG and natural gasoline are extracted from the natural gas, which arrives through three main pipelines from the Neuquén and Austral natural gas basins. TGS sells its production of liquids in the domestic and the international markets. TGS sells part of its production of propane and butane to liquids marketers in the domestic market. The remainder of these products and all of its natural gasoline are exported at current international market prices. Ethane is entirely sold in the domestic market to PBB-Polisur S.A. at agreed prices. Other services: Midstream services include natural gas treatment, separation, and removal of impurities from the natural gas stream, as well as natural gas compression, rendered at the wellhead typically for natural gas producers. In addition, TGS provides services related to pipeline and compression plant construction, operation and maintenance of pipelines and compressor plants services, as well as steam generation for electricity production. Moreover, within this segment services provided by the UT were included. For further information, see Note 10. Telecommunications: Telecommunication services are rendered through Telcosur, a company controlled by TGS. Telcosur provides services as an independent carrier of carriers to leading telecommunication operators and corporate customers located in its service area. Detailed information on each business segment for the years ended December 31, 2017, 2016 and 2015 is disclosed below:
Year ended December 31, 2017 |
|  | Natural Gas Transportation |  |  | Production and Commercialization of Liquids |  |  | Other Services |  |  | Telecommunications |  |  | Eliminations |  |  | Total |
Revenues from sales (1) |  |  | 4,559,739 |  |  |  | 6,875,241 |  |  |  | 735,839 |  |  |  | 75,845 |  |  |  | - |  |  |  | 12,246,664 |
Intersegment revenues |  |  | 150,388 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (150,388 | ) |  |  | - |
Cost of sales |  |  | (1,845,551 | ) |  |  | (4,428,764 | ) |  |  | (353,676 | ) |  |  | (45,714 | ) |  |  | 150,388 |  |  |  | (6,523,317 | )
Administrative expenses |  |  | (316,627 | ) |  |  | (59,249 | ) |  |  | (22,984 | ) |  |  | (4,135 | ) |  |  | - |  |  |  | (402,995 | )
Selling expenses |  |  | (260,313 | ) |  |  | (163,746 | ) |  |  | (66,306 | ) |  |  | (9,544 | ) |  |  | - |  |  |  | (499,909 | )
Other operating (expenses) / income |  |  | (126,027 | ) |  |  | 27,253 |  |  |  | (5,758 | ) |  |  | 155 |  |  |  | - |  |  |  | (104,377 | )
Operating profit |  |  | 2,161,609 |  |  |  | 2,250,735 |  |  |  | 287,115 |  |  |  | 16,607 |  |  |  | - |  |  |  | 4,716,066 |
Depreciation of property, plant and equipment |  |  | (245,600 | ) |  |  | (20,170 | ) |  |  | (92,650 | ) |  |  | - |  |  |  | - |  |  |  | (358,420 | )
(1) | Revenues from sales from Production and Commercialization of Liquids segment includes Ps. 235,459 of Government subsidies.
Identifiable assets |  |  | 8,284,454 |  |  |  | 3,911,169 |  |  |  | 1,410,054 |  |  |  | 61,223 |  |  |  | - |  |  |  | 13,666,900 |
Identifiable liabilities |  |  | 5,991,730 |  |  |  | 1,217,863 |  |  |  | 1,120,469 |  |  |  | 17,198 |  |  |  | - |  |  |  | 8,347,260 |
|  | Natural Gas Transportation |  |  | Production and Commercialization of Liquids |  |  | Other Services |  |  | Telecommunications |  |  |  |  |  | Total |
External market |  |  | - |  |  |  | 2,676,792 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 2,676,792 |
Local market |  |  | 4,559,739 |  |  |  | 4,198,449 |  |  |  | 735,839 |  |  |  | 75,845 |  |  |  | - |  |  |  | 9,569,872 |
Year ended December 31, 2016 |  |  |  |
|  | Natural Gas Transportation |  |  | Production and Commercialization of Liquids |  |  | Other Services |  |  | Telecommunications |  |  | Eliminations |  |  | Total |
Revenue from sales (1) |  |  | 2,087,191 |  |  |  | 4,768,326 |  |  |  | 485,855 |  |  |  | 60,800 |  |  |  | - |  |  |  | 7,402,172 |
Intersegment revenues |  |  | 71,079 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (71,079 | ) |  |  | - |
Cost of sales |  |  | (1,068,714 | ) |  |  | (3,218,936 | ) |  |  | (187,815 | ) |  |  | (31,529 | ) |  |  | 71,079 |  |  |  | (4,435,915 | )
Administrative expenses |  |  | (264,821 | ) |  |  | (32,535 | ) |  |  | (14,734 | ) |  |  | (3,289 | ) |  |  | - |  |  |  | (315,379 | )
Selling expenses |  |  | (121,189 | ) |  |  | (180,499 | ) |  |  | (44,286 | ) |  |  | (7,540 | ) |  |  | - |  |  |  | (353,514 | )
Other operating (expenses) / income |  |  | (44,678 | ) |  |  | (19,147 | ) |  |  | (1,261 | ) |  |  | (457 | ) |  |  | - |  |  |  | (65,543 | )
Operating profit |  |  | 658,868 |  |  |  | 1,317,209 |  |  |  | 237,759 |  |  |  | 17,985 |  |  |  | - |  |  |  | 2,231,821 |
Depreciation of property, plant and equipment |  |  | (238,844 | ) |  |  | (16,693 | ) |  |  | (31,261 | ) |  |  | - |  |  |  | - |  |  |  | (286,798 | )
(1) | Revenues from sales from Production and Commercialization of Liquids segment includes Ps. 183,870 of National Government subsidies.
Identifiable assets |  |  | 6,454,526 |  |  |  | 1,184,593 |  |  |  | 1,235,079 |  |  |  | 57,134 |  |  |  | - |  |  |  | 8,931,332 |
Identifiable liabilities |  |  | 4,209,833 |  |  |  | 1,214,944 |  |  |  | 968,527 |  |  |  | 11,650 |  |  |  | - |  |  |  | 6,404,954 |
|  | Natural Gas Transportation |  |  | Production and Commercialization of Liquids |  |  | Other Services |  |  | Telecommunications |  |  |  |  |  | Total |
External market |  |  | - |  |  |  | 1,437,902 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1,437,902 |
Local market |  |  | 2,087,191 |  |  |  | 3,330,424 |  |  |  | 485,855 |  |  |  | 60,800 |  |  |  | - |  |  |  | 5,964,270 |
Year ended December 31, 2015 |  |  |  |
|  | Natural Gas Transportation |  |  | Production and Commercialization of Liquids |  |  | Other Services |  |  | Telecommunications |  |  | Eliminations |  |  | Total |
Revenue from sales (1) |  |  | 1,013,998 |  |  |  | 2,907,770 |  |  |  | 260,600 |  |  |  | 44,201 |  |  |  | - |  |  |  | 4,226,569 |
Intersegment revenues |  |  | 21,435 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (21,435 | ) |  |  | - |
Cost of sales |  |  | (779,923 | ) |  |  | (1,869,397 | ) |  |  | (108,617 | ) |  |  | (23,403 | ) |  |  | 21,435 |  |  |  | (2,759,905 | )
Administrative expenses |  |  | (172,667 | ) |  |  | (16,512 | ) |  |  | (9,985 | ) |  |  | (2,472 | ) |  |  | - |  |  |  | (201,636 | )
Selling expenses |  |  | (48,082 | ) |  |  | (155,747 | ) |  |  | (32,889 | ) |  |  | (4,612 | ) |  |  | - |  |  |  | (241,330 | )
Other operating (expenses) / income |  |  | (332,997 | ) |  |  | (2,663 | ) |  |  | 191 |  |  |  | 18 |  |  |  | - |  |  |  | (335,451 | )
Operating profit |  |  | (298,236 | ) |  |  | 863,451 |  |  |  | 109,300 |  |  |  | 13,732 |  |  |  | - |  |  |  | 688,247 |
Depreciation of property, plant and equipment |  |  | (194,659 | ) |  |  | (49,651 | ) |  |  | (17,083 | ) |  |  | - |  |  |  | - |  |  |  | (261,393 | )
(1) | Revenues from sales from Production and Commercialization of Liquids segment includes Ps. 126,929 of Government subsidies.
Identifiable assets |  |  | 5,032,799 |  |  |  | 1,237,732 |  |  |  | 310,441 |  |  |  | 65,605 |  |  |  | - |  |  |  | 6,646,577 |
Identifiable liabilities |  |  | 4,095,216 |  |  |  | 625,023 |  |  |  | 196,031 |  |  |  | 34,873 |  |  |  | - |  |  |  | 4,951,143 |
|  | Natural Gas Transportation |  |  | Production and Commercialization of Liquids |  |  | Other Services |  |  | Telecommunications |  |  |  |  |  | Total |
External market |  |  | - |  |  |  | 967,340 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 967,340 |
Local market |  |  | 1,013,998 |  |  |  | 1,940,430 |  |  |  | 260,600 |  |  |  | 44,201 |  |  |  | - |  |  |  | 3,259,229 |

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