ECOPETROL S.A. | CIK:0001444406 | 3

  • Filed: 4/26/2018
  • Entity registrant name: ECOPETROL S.A. (CIK: 0001444406)
  • Generator: DataTracks
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    • ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory

    6.
    Cash and cash equivalents
     
    Cash and cash equivalents details as of December 31, 2017 and 2016 is as follows:
     
     
     
    2017
     
    2016
     
    Banks
     
     
    5,484,981
     
     
    3,319,465
     
    Short-term investments
     
     
    2,459,438
     
     
    5,090,048
     
    Cash
     
     
    1,466
     
     
    954
     
     
     
     
    7,945,885
     
     
    8,410,467
     
     
    As of December 31, 2017, cash and cash equivalents balance included COP $ 96,758 and COP $ 114,206 as of December 31, 2016, of restricted cash to be used exclusively for the payment of loans principal and interest obtained by Oleoducto Bicentenario and Oleoducto de los Llanos. The use of short-term financial investments depends on the liquidity needs of the Group.
     
    The fair value of cash and cash equivalents approximates their book value due to their short-term nature.
     
    The return on cash and cash equivalents for the year ended December 31, 2017 was approximately 4.2% (2016 - 3.5%).
     
    The following table reflects the credit quality of issuers of investments included in cash and cash equivalents:
     
    Rating
     
    2017
     
    2016
     
    AAA
     
     
    2,807,170
     
     
    3,198,394
     
    A1
     
     
    2,922,714
     
     
    1,466,015
     
    BRC1 +
     
     
    1,152,593
     
     
    312,290
     
    F1
     
     
    896,231
     
     
    545,872
     
    Aa3
     
     
    99,029
     
     
    -
     
    Aa2
     
     
    27,868
     
     
    -
     
    A-2
     
     
    27,350
     
     
    -
     
    No rating available
     
     
    12,750
     
     
    67,185
     
    F2
     
     
    180
     
     
    409,717
     
    A1+
     
     
    -
     
     
    73,470
     
    F1+
     
     
    -
     
     
    2,188,471
     
    Prime-2
     
     
    -
     
     
    78,989
     
    F3
     
     
    -
     
     
    37,172
     
    Prime-3
     
     
    -
     
     
    32,748
     
    B
     
     
    -
     
     
    144
     
     
     
     
    7,945,885
     
     
    8,410,467
     
     
    See credit risk policy in Note 30.3.