ECOPETROL S.A. | CIK:0001444406 | 3

  • Filed: 4/26/2018
  • Entity registrant name: ECOPETROL S.A. (CIK: 0001444406)
  • Generator: DataTracks
  • SEC filing page: http://www.sec.gov/Archives/edgar/data/1444406/000114420418022451/0001144204-18-022451-index.htm
  • XBRL Instance: http://www.sec.gov/Archives/edgar/data/1444406/000114420418022451/ec-20171231.xml
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    • ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory

    21.
    Trade and other payables
     
    The balance of trade and other payables, as of December 31, 2017 and 2016, is comprised as follows:
     
     
     
    2017
     
    2016
     
     
     
     
     
     
     
     
     
    Suppliers
     
     
    5,088,957
     
     
    4,687,353
     
    Partners’ advances
     
     
    880,420
     
     
    864,971
     
    Withholding tax
     
     
    376,169
     
     
    379,194
     
    Related parties
     
     
    129,520
     
     
    114,420
     
    Insurance and reinsurance
     
     
    121,555
     
     
    110,530
     
    Agreements in transport contracts (1)
     
     
    91,324
     
     
    111,899
     
    Deposits received from third parties
     
     
    25,523
     
     
    209,570
     
    Dividends payable (2)
     
     
    3,723
     
     
    11,193
     
    Various creditors
     
     
    280,485
     
     
    389,126
     
     
     
     
    6,997,676
     
     
    6,878,256
     
     
     
     
     
     
     
     
     
    Current
     
     
    6,968,207
     
     
    6,854,363
     
    Non-current
     
     
    29,469
     
     
    23,893
     
     
     
     
    6,997,676
     
     
    6,878,256
     
     
    (1)
    Corresponds to the value of debt from agreements in transport contracts of oil pipelines and poliducts, impacted by volumetric adjustments, compensation for quality and other inventory management agreements.
     
    (2)
    Dividends declared at the General Shareholders' Meeting on 2016 profits, amounting to COP$945,684, were paid in April 2017.
     
    The carrying amount of trade accounts and other accounts payable approximates their fair value due to their short-term nature.