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Provisions | 12 Months Ended
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Dec. 31, 2020
Provisions [abstract] |
Disclosure of Provisions | 24. Provisions The Group, as a result of the ordinary course of its business, may be a party to legal lawsuits of labor, commercial and tax nature. A provision is recognized whenever the loss is classified as probable.
| • |  | Financial guarantees and loan commitments: reflects the expected credit loss arising from financial guarantees issued, unused balances of checking account overdrafts, credit cards and other loan commitments.
| • |  | Provisions for reorganization: Consistent with the goal of further aligning the organizational structure with the corporate strategy during the current year, achieving efficiency gains and streamlining the decision-making process across all work teams.
| • |  | Other provisions: reflects the estimated amounts to pay class actions, labour, tax and commercial claims as well as other miscellaneous complaints.
|  | December 31, 2020 |  |  | December 31, 2019 |
Other provisions |  |  | 2,633,845 |  |  |  | 3,310,543 |
Provisions commercial claims |  |  | 1,957,932 |  |  |  | 2,605,366 |
Provisions labor-related |  |  | 250,904 |  |  |  | 278,001 |
Provisions tax claims |  |  | 182,951 |  |  |  | 143,757 |
Others |  |  | 242,058 |  |  |  | 283,419 |
Provisions for reorganization |  |  | 2,029,162 |  |  |  | 2,690,285 |
Financial guarantees and loan commitments |  |  | 1,364,594 |  |  |  | 1,233,260 |
TOTAL |  |  | 6,027,601 |  |  |  | 7,234,088 |
Changes in fiscal year 2020 and 2019 are included below:
Accounts |  | Balances as of December 31, 2019 |  |  | Increases |  |  | Provisions reversals |  |  | Provisions used |  |  | Inflation adjustment |  |  | Balances as of December 31, 2020 |
- Other provisions |  |  | 3,310,543 |  |  |  | 1,124,419 |  |  |  | (28,587 | ) |  |  | (742,649 | ) |  |  | (1,029,881 | ) |  |  | 2,633,845 |
Provisions commercial claims |  |  | 2,605,366 |  |  |  | 750,096 |  |  |  | — |  |  |  | (630,636 | ) |  |  | (766,894 | ) |  |  | 1,957,932 |
Provisions labor-related |  |  | 278,001 |  |  |  | 139,933 |  |  |  | — |  |  |  | (72,920 | ) |  |  | (94,110 | ) |  |  | 250,904 |
Provisions tax claims |  |  | 143,757 |  |  |  | 119,771 |  |  |  | — |  |  |  | (26,773 | ) |  |  | (53,804 | ) |  |  | 182,951 |
Others |  |  | 283,419 |  |  |  | 114,619 |  |  |  | (28,587 | ) |  |  | (12,320 | ) |  |  | (115,073 | ) |  |  | 242,058 |
- Provisions for reorganization |  |  | 2,690,285 |  |  |  | 2,858,723 |  |  |  | (646,586 | ) |  |  | (2,328,094 | ) |  |  | (545,166 | ) |  |  | 2,029,162 |
- Financial guarantees and loan commitments |  |  | 1,233,260 |  |  |  | 537,694 |  |  |  | — |  |  |  | — |  |  |  | (406,360 | ) |  |  | 1,364,594 |
TOTAL PROVISIONS |  |  | 7,234,088 |  |  |  | 4,520,836 |  |  |  | (675,173 | ) |  |  | (3,070,743 | ) |  |  | (1,981,407 | ) |  |  | 6,027,601 |
Accounts |  | Balances as of December 31, 2018 |  |  | Increases |  |  | Provisions used |  |  | Balances as of December 31, 2019 |
- Other provisions |  |  | 2,826,834 |  |  |  | 3,200,103 |  |  |  | (2,716,394 | ) |  |  | 3,310,543 |
Provisions commercial claims |  |  | 2,251,611 |  |  |  | 2,648,272 |  |  |  | (2,294,517 | ) |  |  | 2,605,366 |
Provisions labor-related |  |  | 354,470 |  |  |  | 175,162 |  |  |  | (251,631 | ) |  |  | 278,001 |
Provisions tax claims |  |  | 146,001 |  |  |  | 92,895 |  |  |  | (95,139 | ) |  |  | 143,757 |
Others |  |  | 74,752 |  |  |  | 283,774 |  |  |  | (75,107 | ) |  |  | 283,419 |
- Provisions for reorganization |  |  | — |  |  |  | 3,188,547 |  |  |  | (498,262 | ) |  |  | 2,690,285 |
- Financial guarantees and loan commitments |  |  | 750,442 |  |  |  | 482,866 |  |  |  | (48 | ) |  |  | 1,233,260 |
TOTAL PROVISIONS |  |  | 3,577,276 |  |  |  | 6,871,516 |  |  |  | (3,214,704 | ) |  |  | 7,234,088 |
The expected terms to settle these obligations are as follows:
December 31, 2020 |  |  |  |  |  |
Provisions |  | Within 12 months |  |  | After 12 months |
Other provisions |  |  | 1,129,070 |  |  |  | 1,504,775 |
Provisions commercial claims |  |  | 826,610 |  |  |  | 1,131,322 |
Provisions labor-related |  |  | 78,737 |  |  |  | 172,167 |
Provisions tax claims |  |  | 69,429 |  |  |  | 113,522 |
Others |  |  | 154,294 |  |  |  | 87,764 |
Provisions for reorganization |  |  | 2,029,162 |  |  |  | — |
Financial guarantees and loan commitments |  |  | 1,364,594 |  |  |  | — |
December 31, 2019 |  |  |  |  |  |
Provisions |  | Within 12 months |  |  | After 12 months |
Other provisions |  |  | 1,215,982 |  |  |  | 2,094,561 |
Provisions commercial claims |  |  | 873,356 |  |  |  | 1,732,010 |
Provisions labor-related |  |  | 59,532 |  |  |  | 218,469 |
Provisions tax claims |  |  | 44,703 |  |  |  | 99,054 |
Others |  |  | 238,391 |  |  |  | 45,028 |
Provisions for reorganization |  |  | 2,690,285 |  |  |  | — |
Financial guarantees and loan commitments |  |  | 1,233,260 |  |  |  | — |
Possible contingencies Contingent liabilities have not been recognized in these financial statements and corresponds to 105 claims received (both before the courts and the administrative authorities), arisen in the ordinary course of business. T he estimated amount of said claims amounts to 18,623 of which an outflow of funds is estimated for approximately 2,566 in the next 12 months. These claims are primarily related to leasing claims, petitions to secure evidence, and labor claims. The Group’s management and legal advisors consider that the probability that these cases would derive in an outflow of resources is possible, but not probable, and that the potential cash disbursements should not be material.

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