Fair value at December 31, | ||||||||||
Currencies | Contract | Notional amount | 2017 | 2016 | ||||||
ARS/USD | ND Forward - Buy ARS | 6.4 billion ARS | (6,534 | ) | 316 | |||||
ARS/USD | ND Forward - Sell ARS | 187.0 million ARS | 533 | — | ||||||
COP/USD | ND Forward - Sell COP | 65.7 billion COP | 17 | — | ||||||
EUR/USD | ND Forward - Buy EUR | 39.0 million EUR | 224 | — | ||||||
BRL/USD | ND Forward - Buy BRL | 67.2 million BRL | 1,514 | — | ||||||
BRL/USD | ND Forward - Sell BRL | 61.1 million BRL | 247 | — | ||||||
EUR/USD | ND Forward - Sell EUR | 5.3 million EUR | — | (30 | ) | |||||
(3,999 | ) | 286 |
As of December 31, | |||||
2017 | 2016 | ||||
Contracts with positive fair value | |||||
Interest rate swap contracts | 302 | — | |||
Foreign exchange contracts | 2,002 | 316 | |||
2,304 | 316 | ||||
Contracts with negative fair value | |||||
Interest rate swap contracts | — | (257 | ) | ||
Foreign exchange contracts | (6,001 | ) | (30 | ) | |
(6,001 | ) | (287 | ) |
Cash flow hedges | ||||||||
Gross amount | Income tax | Total | ||||||
At December 31, 2015 | (566 | ) | 170 | (396 | ) | |||
(Decrease) / Increase | (179 | ) | 54 | (125 | ) | |||
Reclassification to income statement | 820 | (246 | ) | 574 | ||||
At December 31, 2016 | 75 | (22 | ) | 53 | ||||
(Decrease) / Increase | 363 | 3 | 366 | |||||
Reclassification to income statement | 372 | (110 | ) | 262 | ||||
At December 31, 2017 | 810 | (129 | ) | 681 |