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)
  • Generator: DataTracks
  • SEC filing page: http://www.sec.gov/Archives/edgar/data/1504764/000114420418022931/0001144204-18-022931-index.htm
  • XBRL Instance: http://www.sec.gov/Archives/edgar/data/1504764/000114420418022931/aval-20171231.xml
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    • ifrs-full:DisclosureOfNoncurrentAssetsHeldForSaleAndDiscontinuedOperationsExplanatory

    NOTE 13 – NON-CURRENT ASSETS HELD FOR SALE
     
    The movement of the non-current assets held for sale during the years ended December 31, 2017, 2016 and 2015 is as follows:
     
     
     
    December 31,
    2017
     
     
    December 31,
    2016
     
     
    December 31,
    2015
     
    Balance at the beginning of the year
     
    Ps.
    259,527
     
     
    Ps.
    199,475
     
     
    Ps.
    211,247
     
    Additions
     
     
    89,216
     
     
     
    236,632
     
     
     
    93,698
     
    Assets sold
     
     
    (78,784
    )
     
     
    (130,784
    )
     
     
    (104,940
    )
    Charge-offs
     
     
    -
     
     
     
    -
     
     
     
    (5,786
    )
    Changes in fair value
     
     
    (37,818
    )
     
     
    (34,572
    )
     
     
    (12,159
    )
    Reclassifications (1)
     
     
    (134,795
    )
     
     
    (5,631
    )
     
     
    (24,901
    )
    Exchange gains in foreign currency
     
     
    4,036
     
     
     
    (5,593
    )
     
     
    42,316
     
    Balance at year end
     
    Ps.
    101,382
     
     
    Ps.
    259,527
     
     
    Ps.
    199,475
     
    (1) Includes reclassifications to: I) Investment properties by PS. (108,924); II) Investments by Ps. (23,368) and III) Other assets by Ps. (2,503).
     
    Following is the detail of the non-current assets held for sale:
     
     
     
    December 31,
    2017
     
     
    December 31,
    2016
     
    Foreclosed assets
     
     
     
     
     
     
     
     
    Movable property
     
    Ps.
    8,523
     
     
    Ps.
    103,569
     
    Residential real estate
     
     
    31,666
     
     
     
    36,368
     
    Other real estate
     
     
    37,061
     
     
     
    38,080
     
     
     
    Ps.
    77,250
     
     
    Ps.
    178,017
     
    Assets received from leasing agreements
     
     
     
     
     
     
     
     
    Machinery and equipment
     
     
    15,640
     
     
     
    25,035
     
    Vehicles
     
     
    1,623
     
     
     
    6,320
     
    Real estate
     
     
    1,963
     
     
     
    27,208
     
     
     
    Ps.
    19,226
     
     
    Ps.
    58,563
     
    Other non-current assets held for sale
     
     
     
     
     
     
     
     
    Lands
     
     
    -
     
     
     
    8,396
     
    Real estate
     
     
    982
     
     
     
    -
     
    Other
     
     
    3,924
     
     
     
    14,551
     
     
     
     
    4,906
     
     
     
    22,947
     
    Balance
     
    Ps.
    101,382
     
     
    Ps.
    259,527
     
     
    Following is the detail of the associated liabilities to assets held for sale:
     
     
     
    December 31, 2017
     
     
    December 31, 2016
     
    Commercial accounts payable
     
    Ps.
    18,382
     
     
    Ps.
    13,884
     
    Total
     
    Ps.
    18,382
     
     
    Ps.
    13,884
     
     
    Non-current assets held for sale are primarily assets received through foreclosure from assets pledged as loan collateral. Accordingly, Grupo Aval´s intention is to sell them immediately, and it has departments, processes and special sales programs for that purpose. Foreclosed assets are either sold for cash or financing for their sale is provided to potential buyers under normal market conditions. These are expected to be sold within a period of 12 months subsequent to their classification as assets held for sale. There are options contracts in place for some of these assets. Note 4.1 on credit risk contains information on assets received through foreclosure and sold during the period. During the years ended on December 31, 2017, 2016 and 2015, there were no changes in plans for the disposal of non-current assets held for sale.