Grupo Aval Acciones Y Valores S.A. | CIK:0001504764 | 3

  • Filed: 4/27/2018
  • Entity registrant name: Grupo Aval Acciones Y Valores S.A. (CIK: 0001504764)
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    • ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory

    NOTE 15 – TANGIBLE ASSETS
     
    The movement of the carrying value amounts of tangible assets for the years ended on December 31, 2017, 2016 and 2015 is as follows:
     
     
     
    For own
    use (1)
     
     
    Given in
    operating leases
     
     
    Investment
    properties (2)
     
     
    Biological assets
    at fair value
     
     
    Total
     
    Cost
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Balance as of January 1, 2015
     
    Ps.
    6,758,740
     
     
    Ps.
    17,111
     
     
    Ps.
    366,742
     
     
    Ps.
    202,399
     
     
    Ps.
    7,344,992
     
    Purchases or capitalized expenses
     
     
    919,335
     
     
     
    1,119
     
     
     
    75,458
     
     
     
    35,265
     
     
     
    1,031,177
     
    Withdrawals / Sales
     
     
    (349,056
    )
     
     
    (7,739
    )
     
     
    (22,945
    )
     
     
    (20,374
    )
     
     
    (400,114
    )
    Changes in fair value
     
     
    -
     
     
     
    -
     
     
     
    104,769
     
     
     
    22,922
     
     
     
    127,691
     
    Transfers to/from non-current assets held for sale
     
     
    15,498
     
     
     
    -
     
     
     
    14,222
     
     
     
    -
     
     
     
    29,720
     
    Adjustments for exchange differences
     
     
    625,076
     
     
     
    -
     
     
     
    -
     
     
     
    -
     
     
     
    625,076
     
    Balance as of December 31, 2015
     
    Ps.
    7,969,593
     
     
    Ps.
    10,491
     
     
    Ps.
    538,246
     
     
    Ps.
    240,212
     
     
    Ps.
    8,758,542
     
    Reclassification of bearer plants balance (*)
     
     
    188,177
     
     
     
    -
     
     
     
    -
     
     
     
    (188,177
    )
     
     
    -
     
    Effects of amendments in accounting policies of bearer plants
     
     
    29
     
     
     
    -
     
     
     
    -
     
     
     
    (18,108
    )
     
     
    (18,079
    )
    Purchases or capitalized expenses
     
     
    814,194
     
     
     
    362
     
     
     
    71,268
     
     
     
    21,432
     
     
     
    907,256
     
    Withdrawals / Sales
     
     
    (367,987
    )
     
     
    (3,806
    )
     
     
    (61,786
    )
     
     
    (20,670
    )
     
     
    (454,249
    )
    Changes in fair value
     
     
    -
     
     
     
    -
     
     
     
    53,680
     
     
     
    14,644
     
     
     
    68,324
     
    Transfers to/from non-current assets held for sale
     
     
    (18,704
    )
     
     
    -
     
     
     
    11,319
     
     
     
    -
     
     
     
    (7,385
    )
    Adjustments for exchange differences
     
     
    (138,320
    )
     
     
    -
     
     
     
    -
     
     
     
    -
     
     
     
    (138,320
    )
    Reclassifications
     
     
    (58,046
    )
     
     
    -
     
     
     
    (2,539
    )
     
     
    (1,331
    )
     
     
    (61,916
    )
    Balance as of December 31, 2016
     
    Ps.
    8,388,936
     
     
    Ps.
    7,047
     
     
    Ps.
    610,188
     
     
    Ps.
    48,002
     
     
    Ps.
    9,054,173
     
    Purchases or capitalized expenses
     
     
    470,650
     
     
     
    3,102
     
     
     
    84,036
     
     
     
    24,409
     
     
     
    582,197
     
    Withdrawals / Sales (4)
     
     
    (374,606
    )
     
     
    (2,467
    )
     
     
    (28,431
    )
     
     
    (19,775
    )
     
     
    (425,279
    )
    Changes in fair value
     
     
    -
     
     
     
    -
     
     
     
    46,675
     
     
     
    13,503
     
     
     
    60,178
     
    Transfers to/from non-current assets held for sale
     
     
    587
     
     
     
    -
     
     
     
    101,469
     
     
     
    -
     
     
     
    102,056
     
    Adjustments for exchange differences
     
     
    (65,404
    )
     
     
    -
     
     
     
    -
     
     
     
    -
     
     
     
    (65,404
    )
    Reclassifications (3)
     
     
    77,394
     
     
     
    -
     
     
     
    (30,143
    )
     
     
    -
     
     
     
    47,251
     
    Balance as of December 31, 2017
     
    Ps.
    8,497,557
     
     
    Ps.
    7,682
     
     
    Ps.
    783,794
     
     
    Ps.
    66,139
     
     
    Ps.
    9,355,172
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Accumulated Depreciation:
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Balance January 1, 2015
     
    Ps.
    (1,445,970
    )
     
    Ps.
    (9,237
    )
     
    Ps.
    -
     
     
    Ps.
    -
     
     
    Ps.
    (1,455,207
    )
    Depreciation for the year charged to profit or loss
     
     
    (388,271
    )
     
     
    (3,505
    )
     
     
    -
     
     
     
    -
     
     
     
    (391,776
    )
    Withdrawals / Sales
     
     
    156,830
     
     
     
    5,678
     
     
     
    -
     
     
     
    -
     
     
     
    162,508
     
    Transfers to/from non-current assets held for sale
     
     
    (364,282
    )
     
     
    -
     
     
     
    -
     
     
     
    -
     
     
     
    (364,282
    )
    Adjustments for exchange differences
     
     
    (194,653
    )
     
     
    -
     
     
     
    -
     
     
     
    -
     
     
     
    (194,653
    )
    Balance December 31, 2015
     
    Ps.
    (2,236,346
    )
     
    Ps.
    (7,064
    )
     
    Ps.
    -
     
     
    Ps.
    -
     
     
    Ps.
    (2,243,410
    )
    IAS 41 Adoption Effect – agriculture
     
     
    (29
    )
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    (29
    )
    Depreciation for the year charged to profit or loss
     
     
    (454,620
    )
     
     
    (1,232
    )
     
     
    -
     
     
     
    -
     
     
     
    (455,852
    )
    Withdrawals / Sales
     
     
    126,782
     
     
     
    3,413
     
     
     
    -
     
     
     
    -
     
     
     
    130,195
     
    Transfers to/from non-current assets held for sale
     
     
    10,781
     
     
     
    -
     
     
     
    -
     
     
     
    -
     
     
     
    10,781
     
    Adjustments for exchange differences
     
     
    71,582
     
     
     
    -
     
     
     
    -
     
     
     
    -
     
     
     
    71,582
     
    Reclassification
     
     
    (5,338
    )
     
     
    -
     
     
     
    -
     
     
     
    -
     
     
     
    (5,338
    )
    Balance December 31, 2016
     
    Ps.
    (2,487,188
    )
     
    Ps.
    (4,883
    )
     
    Ps.
    -
     
     
    Ps.
    -
     
     
    Ps.
    (2,492,071
    )
    Depreciation of the year charged against profit or loss
     
     
    (463,133
    )
     
     
    (759
    )
     
     
    -
     
     
     
    -
     
     
     
    (463,892
    )
    Withdrawals / Sales (4)
     
     
    274,804
     
     
     
    2,036
     
     
     
    -
     
     
     
    -
     
     
     
    276,840
     
    Transfers to/from non-current assets held for sale
     
     
    -
     
     
     
    -
     
     
     
    -
     
     
     
    -
     
     
     
    -
     
    Adjustments for exchange differences
     
     
    20,881
     
     
     
    -
     
     
     
    -
     
     
     
    -
     
     
     
    20,881
     
    Reclassification (3)
     
     
    (35,531
    )
     
     
    -
     
     
     
    -
     
     
     
    -
     
     
     
    (35,531
    )
    Balance December 31, 2017
     
    Ps.
    (2,690,167
    )
     
    Ps.
    (3,606
    )
     
    Ps.
    -
     
     
    Ps.
    -
     
     
    Ps.
    (2,693,773
    )
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Impairment losses:
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Balance as of January 1, 2015
     
    Ps.
    (2,726
    )
     
    Ps.
    (326
    )
     
    Ps.
    -
     
     
    Ps.
    -
     
     
    Ps.
    (3,052
    )
    Year impairment charge
     
     
    1,709
     
     
     
    259
     
     
     
    -
     
     
     
    -
     
     
     
    1,968
     
    Balance as of December 31, 2015
     
     
    (1,017
    )
     
     
    (67
    )
     
     
    -
     
     
     
    -
     
     
     
    (1,084
    )
    Year impairment charge
     
     
    (1,482
    )
     
     
    (21
    )
     
     
    -
     
     
     
    -
     
     
     
    (1,503
    )
    Balance as of December 31, 2016
     
     
    (2,499
    )
     
     
    (88
    )
     
     
    -
     
     
     
    -
     
     
     
    (2,587
    )
    Withdrawals / Year impairment charge
     
     
    (4,894
    )
     
     
    88
     
     
     
    -
     
     
     
    -
     
     
     
    (4,806
    )
    Balance as of December 31, 2017
     
    Ps.
    (7,393
    )
     
    Ps.
    -
     
     
    Ps.
    -
     
     
    Ps.
    -
     
     
    Ps.
    (7,393
    )
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Tangible Assets, net:
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Balance as of December 31, 2015
     
    Ps.
    5,732,230
     
     
    Ps.
    3,360
     
     
    Ps.
    538,246
     
     
    Ps.
    240,212
     
     
    Ps.
    6,514,048
     
    Balance as of December 31, 2016
     
    Ps.
    5,899,249
     
     
    Ps.
    2,076
     
     
    Ps.
    610,188
     
     
    Ps.
    48,002
     
     
    Ps.
    6,559,515
     
    Balance as of December 31, 2017
     
    Ps.
    5,799,997
     
     
    Ps.
    4,076
     
     
    Ps.
    783,794
     
     
    Ps.
    66,139
     
     
    Ps.
    6,654,006
     
     
    (*) See note 2.15
    (1) Only includes assets for own use diferent than assets given in operating lease (see note 15.2)
    (2) The total of purchases of investment properties, includes Ps. 8,219 at December 2017 and Ps. 14,658 at December 2016, of assets received in total or partial settlement of the payment obligations of debtors.
    (3) The total of reclassification of for own use, includes Ps. 3,509 of the business combinations Covimar y Covipacifico (this acquisition is not significant).
    (4) The total of Withdrawals of for own use, includes Ps. (30,440) of the liquidation of “Consorcio Consol”.
     
    15.1.
    Properties, plant and equipment for own use
     
    Following is the detail of the balance at December 31, 2017 and 2016, by type:
     
     
     
    Cost
     
     
    Accumulated
    depreciation
     
     
    Impairment
    loss
     
     
    Carrying
    amount
     
    December 31, 2017
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Land
     
    Ps.
    1,007,788
     
     
    Ps.
    -
     
     
    Ps.
    (3,741
    )
     
    Ps.
    1,004,047
     
    Buildings
     
     
    2,640,644
     
     
     
    (485,924
    )
     
     
    (116
    )
     
     
    2,154,604
     
    Office equipment and accessories
     
     
    944,127
     
     
     
    (613,400
    )
     
     
    (226
    )
     
     
    330,501
     
    Information technology equipment
     
     
    1,573,284
     
     
     
    (1,121,179
    )
     
     
    (11
    )
     
     
    452,094
     
    Vehicles
     
     
    131,301
     
     
     
    (62,304
    )
     
     
    -
     
     
     
    68,997
     
    Equipment and machinery
     
     
    1,362,242
     
     
     
    (187,500
    )
     
     
    (3,299
    )
     
     
    1,171,443
     
    Silos
     
     
    8,613
     
     
     
    (4,760
    )
     
     
    -
     
     
     
    3,853
     
    Warehouses
     
     
    43,592
     
     
     
    (25,734
    )
     
     
    -
     
     
     
    17,858
     
    Advanced payments for the acquisition of plant property and equipment
     
     
    6,974
     
     
     
    -
     
     
     
    -
     
     
     
    6,974
     
    Improvements in leaseholds properties
     
     
    348,431
     
     
     
    (182,318
    )
     
     
    -
     
     
     
    166,113
     
    Construction in progress
     
     
    211,120
     
     
     
    -
     
     
     
    -
     
     
     
    211,120
     
    Bearer plants
     
     
    219,441
     
     
     
    (7,048
    )
     
     
    -
     
     
     
    212,393
     
    Balance as of December 31, 2017
     
    Ps.
    8,497,557
     
     
    Ps.
    (2,690,167
    )
     
    Ps.
    (7,393
    )
     
    Ps.
    5,799,997
     
     
     
     
    Cost
     
     
    Accumulated
    depreciation
     
     
    Impairment
    loss
     
     
    Carrying
    amount
     
    December 31, 2016
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Land
     
    Ps.
    1,010,753
     
     
    Ps.
    -
     
     
    Ps.
    (1,452
    )
     
    Ps.
    1,009,301
     
    Buildings
     
     
    2,598,571
     
     
     
    (396,015
    )
     
     
    (213
    )
     
     
    2,202,343
     
    Office equipment and accessories
     
     
    939,344
     
     
     
    (600,743
    )
     
     
    (72
    )
     
     
    338,529
     
    Information technology equipment
     
     
    1,555,655
     
     
     
    (1,086,475
    )
     
     
    -
     
     
     
    469,180
     
    Vehicles
     
     
    130,493
     
     
     
    (69,282
    )
     
     
    -
     
     
     
    61,211
     
    Equipment and machinery
     
     
    1,352,413
     
     
     
    (150,677
    )
     
     
    (762
    )
     
     
    1,200,974
     
    Silos
     
     
    8,613
     
     
     
    (4,445
    )
     
     
    -
     
     
     
    4,168
     
    Warehouses
     
     
    43,457
     
     
     
    (24,819
    )
     
     
    -
     
     
     
    18,638
     
    Advanced payments for the acquisition of plant property and equipment
     
     
    17,455
     
     
     
    -
     
     
     
    -
     
     
     
    17,455
     
    Improvements in leaseholds properties
     
     
    307,289
     
     
     
    (152,067
    )
     
     
    -
     
     
     
    155,222
     
    Construction in progress
     
     
    225,803
     
     
     
    -
     
     
     
    -
     
     
     
    225,803
     
    Bearer plants
     
     
    199,090
     
     
     
    (2,665
    )
     
     
    -
     
     
     
    196,425
     
    Balance as of December 31, 2016
     
    Ps.
    8,388,936
     
     
    Ps.
    (2,487,188
    )
     
    Ps.
    (2,499
    )
     
    Ps.
    5,899,249
     
     
    15.2
    Properties, plant and equipment given in operating lease:
     
    Following is movement of carrying value amounts of the balance to as of December 31, 2017 and 2016, by type:
     
     
     
    Cost
     
     
    Accumulated
    depreciation
     
     
    Impairment
    loss
     
     
    Carrying
    amount
     
    December 31, 2017
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Equipment, furniture and office equipment
     
    Ps.
    203
     
     
    Ps.
    (203
    )
     
    Ps.
    -
     
     
    Ps.
    -
     
    Computing equipment
     
     
    3,363
     
     
     
    (1,484
    )
     
     
    -
     
     
     
    1,879
     
    Vehicles
     
     
    3,627
     
     
     
    (1,834
    )
     
     
    -
     
     
     
    1,793
     
    Mobilization equipment and machinery
     
     
    489
     
     
     
    (85
    )
     
     
    -
     
     
     
    404
     
    Balance as of December 31, 2017
     
    Ps.
    7,682
     
     
    Ps.
    (3,606
    )
     
    Ps.
    -
     
     
    Ps.
    4,076
     
     
     
     
    Cost
     
     
    Accumulated
    depreciation
     
     
    Impairment
    loss
     
     
    Carrying
    amount
     
    December 31, 2016
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Equipment, furniture and office equipment
     
    Ps.
    264
     
     
    Ps.
    (264
    )
     
    Ps.
    -
     
     
    Ps.
    -
     
    Computing equipment
     
     
    1,838
     
     
     
    (1,712
    )
     
     
    (88
    )
     
     
    38
     
    Vehicles
     
     
    3,876
     
     
     
    (1,968
    )
     
     
    -
     
     
     
    1,908
     
    Mobilization equipment and machinery
     
     
    1,069
     
     
     
    (939
    )
     
     
    -
     
     
     
    130
     
    Balance as of December 31, 2016
     
    Ps.
    7,047
     
     
    Ps.
    (4,883
    )
     
    Ps.
    (88
    )
     
    Ps.
    2,076
     
     
    Below is a summary of the minimum lease payments to be received in the next years based on assets given in operating lease to December 31, 2017 and 2016:
     
     
     
    December 31,
    2017
     
     
    December 31,
    2016
     
    Less than a year
     
    Ps.
    2,833
     
     
    Ps.
    1,937
     
    More than a year, less than 5
     
     
    2,435
     
     
     
    1,170
     
    Total
     
    Ps.
    5,268
     
     
    Ps.
    3,107
     
     
    15.3
    Biological Assets
     
    Following is the detail of the biological assets by type:
     
     
     
    December 31,
    2017
     
     
    December 31,
    2016
     
    African palm
     
     
     
     
     
     
     
     
     In production (at fair value)
     
    Ps.
    26,555
     
     
    Ps.
    22,814
     
    Rubber plantations
     
     
     
     
     
     
     
     
     In production (at fair value)
     
     
    24,158
     
     
     
    14,605
     
     Other at fair value (*)
     
     
    15,426
     
     
     
    10,583
     
    Total
     
    Ps.
    66,139
     
     
    Ps.
    48,002
     
     
    (*)Includes short-term crops, livestock and fish farming.
     
    The aforementioned amounts are not subject to any limitations or restrictions.
     
    During the years ended on December 31, 2017, 2016 and 2015, Grupo Aval recorded in its statement of income the following:
     
     
     
    December 31,
    2017
     
     
    December 31,
    2016
     
     
    December 31,
    2015
     
    Sales of biological goods
     
    Ps.
    43,788
     
     
    Ps.
    39,032
     
     
    Ps.
    46,458
     
    Changes in fair value of biological assets
     
     
    13,503
     
     
     
    14,644
     
     
     
    22,922
     
    Subtotal
     
     
    57,291
     
     
     
    53,676
     
     
     
    69,380
     
    Costs and expenses
     
     
    (37,313
    )
     
     
    (27,067
    )
     
     
    (37,045
    )
    Depreciation of bearer plants
     
     
    (3,405
    )
     
     
    (2,665
    )
     
     
    -
     
    General administration costs and sales
     
     
    (7,278
    )
     
     
    (4,379
    )
     
     
    (2,866
    )
    Financial costs
     
     
    (4,136
    )
     
     
    (2,285
    )
     
     
    (278
    )
    Subtotal
     
     
    (52,132
    )
     
     
    (36,396
    )
     
     
    (40,189
    )
    Total net income
     
    Ps.
    5,159
     
     
    Ps.
    17,280
     
     
    Ps.
    29,191
     
     
    15.4
    Investment properties
     
    The following table summarizes investment properties as of December 31, 2017 and 2016:
     
    December 31, 2017
     
    Cost
     
     
    Accumulated
    adjustments to fair value
     
     
    Carrying amount
     
    Land
     
    Ps.
    365,675
     
     
    Ps.
    159,836
     
     
    Ps.
    525,511
     
    Buildings
     
     
    217,897
     
     
     
    40,386
     
     
     
    258,283
     
    Balance as of December 31, 2017
     
    Ps.
              583,572
     
     
    Ps.
    200,222
     
     
    Ps.
    783,794
     
     
    December 31, 2016
     
    Cost
     
     
    Accumulated
    adjustments to fair value
     
     
    Carrying amount
     
    Land
     
    Ps.
    267,869
     
     
    Ps.
    123,287
     
     
    Ps.
    391,156
     
    Buildings
     
     
    189,650
     
     
     
    29,382
     
     
     
    219,032
     
    Balance as of December 31, 2016
     
    Ps.
              457,519
     
     
    Ps.
    152,669
     
     
    Ps.
    610,188
     
     
    The following amounts have been recognized in the consolidated statement of income during the years ended on December 31, 2017, 2016 and 2015 in relation to investments properties:
     
     
     
    December 31,
    2017
     
     
    December 31,
    2016
     
     
    December 31,
    2015
     
    Income from rents
     
    Ps.
    11,992
     
     
    Ps.
    5,183
     
     
    Ps.
    6,986
     
    Direct operating expenses deriving from property investments which create income from rent
     
     
    (1,053
    )
     
     
    (321
    )
     
     
    (1,798
    )
    Direct operating expenses deriving from property investments which do not create income from rent
     
     
    (4,239
    )
     
     
    (1,328
    )
     
     
    (762
    )
    Net
     
    Ps.
    6,700
     
     
    Ps.
    3,534
     
     
    Ps.
    4,426