| (7) | Cash and cash equivalents and restricted cash |
Cash
and cash equivalents and restricted cash as of December 31, 2017 and 2016 are as follows:
| December 31, 2017 |
December 31, 2016 |
|||||||
| Cash on hand and bank deposits | $ | 490,657 | $ | 365,610 | ||||
| Demand and term deposits (1) | 18,325 | 10,143 | ||||||
| Cash and cash equivalents | 508,982 | 375,753 | ||||||
| Restricted cash (2) | 5,465 | 5,371 | ||||||
| Cash and cash equivalents and restricted cash | $ | 514,447 | $ | 381,124 | ||||
| (1) | As of December 31, 2017 and 2016, within the cash equivalents, there are demand and term deposits that amounted to $ 18,325 and $ 10,143, respectively. The use of term deposits depends on the cash requirements of the Company. As of December 31, 2017, term deposits accrue annual interest rates between 3.77% and 5.52% in Colombian pesos and between 2.10% and 6.50% in dollars. As of December 31, 2016, term deposits accrue annual interest rates between 6.66% and 11.97% in dollars and between 0.20% and 6.50% in Colombian pesos. |
| (2) | As of December 31, 2017, the restricted cash includes resources in separately administered funds, which have a specific destination in relation to the object for which they were constituted, they consist among others in the payment of capital and interests to the bondholders. |