Adecoagro S.A. | CIK:0001499505 | 3

  • Filed: 4/27/2018
  • Entity registrant name: Adecoagro S.A. (CIK: 0001499505)
  • Generator: Workiva (WebFilings)
  • SEC filing page: http://www.sec.gov/Archives/edgar/data/1499505/000162828018005268/0001628280-18-005268-index.htm
  • XBRL Instance: http://www.sec.gov/Archives/edgar/data/1499505/000162828018005268/agro-20171231.xml
  • XBRL Cloud Viewer: Click to open XBRL Cloud Viewer
  • EDGAR Dashboard: https://edgardashboard.xbrlcloud.com/edgar-dashboard/?cik=0001499505
  • Open this page in separate window: Click

    • ifrs-full:DisclosureOfFinancialInstrumentsByTypeOfInterestRateExplanatory

    The following tables show a breakdown of the Group’s fixed-rate and floating-rate borrowings per currency denomination and functional currency of the subsidiary issuing the loans (excluding finance leases). These analyses are performed after giving effect to interest rate swaps.
     
    The analysis for the year ended December 31, 2017 and 2016 is as follows:

     
    2017
     
    Subsidiaries’ functional currency
    Rate per currency denomination
    Argentine
    Peso
    Brazilian
    Reais
    Uruguayan
    Peso
    US Dollar
    Total
    Fixed rate:
     

     

     

     
     

    Argentine Peso
    6,448

    —

    —

    —

    6,448

    Brazilian Reais
    —

    96,951

    —

    —

    96,951

    US Dollar
    68,963

    34,675

    10,010

    504,004

    617,652

    Subtotal fixed-rate borrowings
    75,411

    131,626

    10,010

    504,004

    721,051

    Variable rate:
     

     

     

     


    Brazilian Reais
    —

    27,668

    —

    —

    27,668

    US Dollar
    49,599

    19,535

    —

    —

    69,134

    Subtotal variable-rate borrowings
    49,599

    47,203

    —

    —

    96,802

    Total borrowings as per analysis
    125,010

    178,829

    10,010

    504,004

    817,853

    Finance leases
    105

    —

    —

    —

    105

    Total borrowings as per statement of financial position
    125,115

    178,829

    10,010

    504,004

    817,958

      
     
    2016
     
    Subsidiaries’ functional currency
    Rate per currency denomination
    Argentine
    Peso
    Brazilian
    Reais
    Uruguayan
    Peso
    US Dollar
    Total
    Fixed rate:
     

     

     

     
     

    Argentine Peso
    1,005

    —

    —

    —

    1,005

    Brazilian Reais
    —

    131,495

    —

    —

    131,495

    US Dollar
    15,065

    37,937

    29,069

    —

    82,071

    Subtotal fixed-rate borrowings
    16,070

    169,432

    29,069

    —

    214,571

    Variable rate:
     

     

     

     


    Brazilian Reais
    —

    65,408

    —

    —

    65,408

    US Dollar
    48,677

    306,559

    —

    —

    355,236

    Subtotal variable-rate borrowings
    48,677

    371,967

    —

    —

    420,644

    Total borrowings as per analysis
    64,747

    541,399

    29,069

    —

    635,215

    Finance leases
    181

    —

    —

    —

    181

    Total borrowings as per statement of financial position
    64,928

    541,399

    29,069

    —

    635,396

     
    For the years ended December 31, 2017 and 2016, if interest rates on floating-rate borrowings had been 1% higher with all other variables held constant, the Group’s Profit before income tax for the years would have decreased as shown below. A 1% decrease in interest rates would have an equal and opposite effect on the income statement.
     
    2017
     
    Subsidiaries’ functional currency
    Rate per currency denomination
    Argentine
    Peso
    Brazilian
    Reais
    Uruguayan
    Peso
    US Dollar
    Total
    Variable rate:
     

     

     

     
     

    Brazilian Reais
    —

    (277
    )
    —

    —

    (277
    )
    US Dollar
    (496
    )
    (195
    )
    —

    —

    (691
    )
    Total effects on profit before income tax
    (496
    )
    (472
    )
    —

    —

    (968
    )
     
     
    2016
     
    Subsidiaries’ functional currency
    Rate per currency denomination
    Argentine
    Peso
    Brazilian
    Reias
    Uruguayan
    Peso
    US Dollar
    Total
    Variable rate:
     

     

     

     
     

    Brazilian Reais
    —

    (654
    )
    —

    —

    (654
    )
    US Dollar
    (487
    )
    (3,066
    )
    —

    —

    (3,553
    )
    Total effects on profit before income tax
    (487
    )
    (3,720
    )
    —

    —

    (4,207
    )