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The demand deposits interest yield is based on daily bank deposit rates. As of December 31, 2019 and 2018, the short-term deposits held in local banks were freely available and earned interest at the respective short-term deposits rates. These short-term deposits, with original maturities of less than three months, were collected in January 2020 and January and February 2019, respectively. Trade account receivables have current maturities (30 to 90 days) and those overdue interest bearing. As of December 31, 2019, includes principally accounts receivable from a third party for the sale of regional and local public investment certificates (CIPRL) for S/ 9,900,000. These certificates were delivered to the Group by the Peruvian Government as compensation for the investment made in a public work and constitute a security that can be used for the payment of taxes by any entity. The movement of the allowance for expected credit losses is as follows: The aging analysis of trade and other accounts receivable as of December 31, 2019 and 2018, is as follows: Movement in the provision for inventory obsolescence value is set forth below: Mining concessions mainly included net acquisition costs of S/15,367,000 related to coal concessions acquired through a purchase option executed from 2011 to 2013. This item also includes some concessions acquired by the Group for exploration activities related to the cement business. In previous years, Management recognized a full impairment charge of approximately S/97,726,000 related to the total net book value of a closed zinc mining unit which includes concession costs, development costs and related facilities and equipment. From this amount, S/42,858,000 corresponds to concessions costs. According to the managements expectation the recovery amount of this zinc mining unit is zero. During 2017, the Group recognized an impairment on the brine project, as explained in note 1.3, derecognized mining concessions and other assets related to said project for S/1,732,000. As of December 31, 2019 and 2018, the exploration and evaluation assets included mainly capital expenditures related to the coal project and to other minor projects related to the cement business. The "other" segment includes activities that do not meet the threshold for disclosure under IFRS 8.13 and represent non-material operations of the Group (including brine project). As of December 31, 2019, corresponded to the financial investment designated at fair value through OCI for approximately S/18,224,000. As of December 31, 2018 corresponded to the financial investment designated at fair value through OCI and fair value of the derivative financial instruments (cross currency swap) for approximately S/26,883,000 and S/12,268,000, respectively. The fair value of derivative financial instruments of hedging is allocated to the segment of cement, and the financial investment designated at fair value through OCI and fair value of derivate financial instrument from trading are not assigned to any segment. Capital expenditure consists of S/87,086,000 and S/113,649,000 during the years ended as of December 31, 2019 and 2018, respectively, and are related to additions of property, plant and equipment, intangible and other minor non-current assets. 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(hereinafter &#x201c;the Company&#x201d;) was incorporated in 1957 and, under the Peruvian General Corporation Law, is an open stock corporation, its shares are listed in the Lima and New York Stock Exchanges. The Company is a subsidiary of Inversiones ASPI S.A., which held 50.01 percent of the Company&#x2019;s common shares as of December 31, 2019 and 2018. The Company&#x2019;s registered address is Calle La Colonia No.150, Urbanizaci&#xf3;n El Vivero, Santiago de Surco, Lima, Peru.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0pt 0 0pt 0.5in">The Company&#x2019;s main activity is the production and marketing of cement, precast, concrete and quicklime in La Libertad region, in the North of Peru.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left">The issuance of the consolidated financial statements of the Company and its subsidiaries (hereinafter &#x201c;the Group&#x201d;) for the year ended December 31, 2019 was authorized by the Company&#x2019;s Audit Committee, delegated by the Board of Directors, on April 29, 2020. The consolidated financial statements as of December 31, 2018 and for the year ended that date were approved by the General Shareholders&#x2019; Meeting on March 11, 2019.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: left">As of December 31, 2019 and 2018, the consolidated financial statements comprised the financial statements of the Company and its subsidiaries: Cementos Selva S.A. and subsidiaries, Distribuidora Norte Pacasmayo S.R.L. and subsidiary, Empresa de Transmisi&#xf3;n Guadalupe S.A.C., Salmueras Sudamericanas S.A. and Calizas del Norte S.A.C. (in liquidation). As of the date of the consolidated financial statements, the Company maintained a 100 percent interest in all of its subsidiaries.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">The main activities of the subsidiaries incorporated in the consolidated financial statements are described as follows:</p><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in"><font style="font-family: Times New Roman, Times, Serif"><b>-</b></font></td><td>Cementos Selva S.A. is engaged in production and marketing of cement and other construction materials in the northeast region of Peru. Also, it holds 100 percent of the shares in Dinoselva Iquitos S.A.C. (a cement and construction materials distributor in the north of Peru, which also produces and sells precast, cement bricks and ready-mix concrete) and in Acu&#xed;cola Los Paiches S.A.C. (a fish farm entity).</td></tr></table><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in"><font style="font-family: Times New Roman, Times, Serif"><b>-</b></font></td><td>Distribuidora Norte Pacasmayo S.R.L. is mainly engaged in selling cement produced by the Company. Additionally, it produces and sells precast, cement bricks and ready-mix concrete. In May 2017, it created Prefabricados del Pac&#xed;fico S.A.C. (a company dedicated to the production and commercialization of cement bricks in northern Peru, which as of the date of this report has not started operations).</td></tr></table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="padding: 0; width: 0.5in; text-indent: 0"></td><td style="padding: 0; width: 0.5in; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif"><b>-</b></font></td><td style="padding: 0; text-indent: 0">Empresa de Transmisi&#xf3;n Guadalupe S.A.C. is mainly engaged in providing electric energy transmission services to the Company.</td></tr> <tr style="vertical-align: top"> <td style="padding: 0; text-indent: 0">&#xa0;</td><td style="padding: 0; text-indent: 0">&#xa0;</td><td style="padding: 0; text-indent: 0">&#xa0;</td></tr> <tr style="vertical-align: top"> <td style="padding: 0; text-indent: 0">&#xa0;</td><td style="padding: 0; text-indent: 0">-</td><td style="padding: 0; text-indent: 0"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0">Salmueras Sudamericanas S.A. (&#x201c;Salmueras&#x201d;) was engaged in the exploration of a brine project located in the northern region of Peru. In December 2017, the Company decided not to continue with the activities related to this project, as explained in note 1.4 of the consolidated financial statements. As of December 31, 2017, Quimpac S.A. held a participation of 25.1% of the common shares of this entity. As of December 31, 2018 and during 2019, Quimpac held no common shares of this entity.</p> </td></tr> </table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in"><font style="font-family: Times New Roman, Times, Serif"><b>-</b></font></td><td>Calizas del Norte S.A.C. (in liquidation). On May 31, 2016, the Company decided to liquidate the subsidiary Calizas del Norte S.A.C.</td></tr></table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in"><font style="font-family: Times New Roman, Times, Serif"><b>-</b></font></td><td>Soluciones Takay S.A.C., an entity constituted on March 29, 2019 whose corporate purpose is to provide advisory services and information, promotion, acquisition, intermediation services for the management and development of real estate projects by natural and/or legal persons.</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">The table presented below shows the summary of the main captions of the audited financial statements of the subsidiaries controlled by the Group as of December 31, 2019, 2018 and 2017:</p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: center">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Assets</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Liabilities</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Net equity</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="10" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Net income (loss)</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">Entity</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2017</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 19%; text-align: left">Cementos Selva S.A. and subsidiaries</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 6%; text-align: right">279,818</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 6%; text-align: right">240,844</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 6%; text-align: right">41,506</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 6%; text-align: right">30,149</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 6%; text-align: right">238,312</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 6%; text-align: right">210,695</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 6%; text-align: right">27,713</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 6%; text-align: right">24,261</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 6%; text-align: right">37,467</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -6.65pt; padding-left: 6.65pt">Distribuidora Norte Pacasmayo S.R.L. and subsidiary</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">326,949</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">308,158</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">184,904</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">178,905</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">142,045</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">129,253</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">13,108</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">4,867</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(220</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Empresa de Transmisi&#xf3;n Guadalupe S.A.C.</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">46,068</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">41,971</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">4,941</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">846</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">41,127</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">41,125</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">588</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">386</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">124</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -6.65pt; padding-left: 6.65pt">Salmueras Sudamericanas S.A., note 1.3</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">213</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">46</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">35</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">674</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">178</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(628</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(94</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(2,620</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(50,942</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -6.65pt; padding-left: 6.65pt">Calizas del Norte S.A.C. (in liquidation)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">694</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">703</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">2</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">692</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">703</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(11</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(3</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(121</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -6.65pt; padding-left: 6.65pt">Soluciones Takay S.A.C.</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">2,120</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">2,588</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(468</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(1,674</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -6.65pt; padding-left: 6.65pt">Fosfatos del Pac&#xed;fico S.A., note 1.2</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(1,216</td><td style="text-align: left">)</td></tr> </table><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in"><i>1.1</i></td><td><i>Business combination &#x2013; </i></td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">On October 5, 2018, Distribuidora Norte Pacasmayo S.R.L. acquired certain assets of a third party through the disbursement of US$12,335,000.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 72pt">The assets&#xb4; purchase was classified as the acquisition of a business in accordance with the IFRS 3 &#x201c;Business Combinations&#x201d; and was recorded under the &#x201c;Acquisition&#x201d; method reflecting their fair values &#x200b;&#x200b;at the purchase date in accordance with IFRS 3. These values were recorded in the separate financial statements of Distribuidora Norte Pacasmayo S.R.L. as of that date, as well as the resulting goodwill. The carrying amounts and fair values of the assets identified as of the acquisition date were as follows:</p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Fair value</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%; text-align: left">Inventories</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">6,849</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Machinery and equipment</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">2,749</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Brand and other intangibles, note 11 (c)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">25,152</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; text-align: left">Deferred income tax asset</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,866</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">36,616</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; text-align: left">Goodwill, note 12</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">4,459</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left">Total assets acquired</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: right">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">41,075</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">The methodology used to determine the fair values at the acquisition date for each of the items evaluated are the following:</p><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1in"></td><td style="width: 0.5in">(i)</td><td>Inventories -</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in">The fair value corresponded to the estimated sale price, less the estimated costs to carry out the sale.</p><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1in"></td><td style="width: 0.5in">(ii)</td><td>Fixed assets -</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in">For the determination of the fair value of the fixed assets, technical reports prepared by an independent appraiser were used.</p><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1in"></td><td style="width: 0.5in">(iii)</td><td>Brand and other intangibles -</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in">The fair values <font style="font-family: Times New Roman, Times, Serif">&#x200b;&#x200b;</font>of identifiable intangible assets at the acquisition date were determined using the income approach, based on the present value of the gains attributable to the asset or costs avoided as a result of owning the asset. Under this approach, the fair value of intangible assets is determined through the methodology of discounted future cash flows using the rate of return that considers the relative risk of obtaining cash flows and the value of money over time.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in">The methods used by the Management of the Company to estimate the fair values <font style="font-family: Times New Roman, Times, Serif">&#x200b;&#x200b;</font>of the intangible assets identified at the acquisition date were the &#x201c;With / Without Method&#x201d; (WWM) which estimates the value of the intangible as the differential between the value of the cash flows with and without the intangible asset, after discounting the returns for all the assets that contribute to the flow and the &#x201c;Relief from Royalty&#x201d; (RFR) method, which estimates the cash flows that the company saves for the payment of royalties that it would do if it did not have its own brand.</p><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1in"></td><td style="width: 0.5in">(iv)</td><td>Goodwill -</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in">Goodwill comprises the fair value of the expected synergies that the Company expects to obtain when acquiring the assets. This goodwill is recorded at cost and corresponds to excess of the cost of acquisition (consideration transferred) and the fair value of the identifiable assets, including the brand and other intangible assets.</p><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in"><i>1.2</i></td><td><i>Spin-off project - </i></td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">On September 2016, the Company&#x2019;s General Shareholders&#x2019; Meeting approved a spin-off of a portion of net assets (composed by the assets and liabilities related to the Company&#x2019;s interest in Fosfatos del Pac&#xed;fico S.A.) in favor of Fossal S.A.A. (enterprise created as a subsidiary of Inversiones ASPI S.A.). The purpose of the spin-off project was to allocate the assets and liabilities of the Company in accordance with the specialization of each business, creating greater flexibility for shareholders and greater clarity in long-term operations.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 72pt; text-align: left">The spin-off contemplated that for each common and investment share of Cementos Pacasmayo S.A.A., the shareholders would receive approximately 0.20 common shares of Fossal S.A.A. and approximately 0.80 common shares of Cementos Pacasmayo S.A.A.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 72pt; text-align: left">On March 1, 2017, the spin-off was consummated; consequently, capital stock, investment shares, additional capital and legal reserve of the Company decreased by S/107,593,000, S/10,224,000, S/118,569,000 and S/36,957,000, respectively. The related non-controlling interest was reduced in the amount of S/100,357,000.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 72pt; text-align: left">On the other hand, as of the date of the spin-off&#x2019;s consummation, part of the investment shares transferred to Fossal S.A.A. were owned by Cementos Pacasmayo S.A.A. (treasury shares). As a consequence, the Company received 9,148,373 investment shares of Fossal S.A.A. The transactions were recorded with a debit to financial instruments designated at fair value through other comprehensive income, for an amount of S/21,206,000 and a credit to equity for S/23,459,000. The difference between the financial and tax value of those investments generated a deferred income tax asset of S/2,253,000, see note 9.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 72pt; text-align: left">The results from discontinued operations are presented in the consolidated statement of profit or loss, in a single line as a post-tax result from discontinued operations, related to the net losses generated by Fosfatos del Pac&#xed;fico S.A. (net of intercompany eliminations), were presented as &#x201c;net loss of discontinued operations&#x201d; for the year 2017 and amounted to S/754,000.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">As of March 1, 2017, the assets and liabilities transferred of Fosfatos del Pac&#xed;fico S.A. (net of intercompany eliminations), mainly comprise the following:</p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Assets -</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%; text-align: left; text-indent: -8.8pt; padding-left: 8.8pt">Cash and cash equivalents</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">34,178</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -8.8pt; padding-left: 8.8pt">Accounts receivable from related parties</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">5,822</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -8.8pt; padding-left: 8.8pt">Inventories</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">2,694</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -8.8pt; padding-left: 8.8pt">Income tax prepayments</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">3,892</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -8.8pt; padding-left: 8.8pt">Other current assets</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">5,126</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -8.8pt; padding-left: 8.8pt">Other receivables non- current</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">50,200</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -8.8pt; padding-left: 8.8pt">Property, plant and equipment, net</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">204,975</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -8.8pt; padding-left: 8.8pt">Exploration and evaluation assets</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">52,578</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; text-align: left; text-indent: -8.8pt; padding-left: 8.8pt">Deferred income tax assets</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">23,173</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -8.8pt; padding-left: 8.8pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: right">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">382,638</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -8.8pt; padding-left: 8.8pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; text-indent: -8.8pt; padding-left: 8.8pt">Liabilities and equity -</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -8.8pt; padding-left: 8.8pt">Trade and other payables</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">8,938</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -8.8pt; padding-left: 8.8pt">Capital stock</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">107,593</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -8.8pt; padding-left: 8.8pt">Investment shares</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">10,224</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -8.8pt; padding-left: 8.8pt">Additional paid-in capital</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">118,569</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -8.8pt; padding-left: 8.8pt">Other reserves</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">36,957</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; text-align: left; text-indent: -8.8pt; padding-left: 8.8pt">Non-controlling interest</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">100,357</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -8.8pt; padding-left: 8.8pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt; text-indent: -8.8pt; padding-left: 8.8pt">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: right">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">382,638</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in"><i>1.3</i></td><td><i>Impairment on brine project - </i></td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">In 2017, the Company decided to prioritize its investments in the development of products related to the manufacture and sale of cement and constructive solutions; therefore, the disposal of investments that are not in line with the strategic plan has been approved.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">As a result of this decision, the Company has decided not to continue with the brine project recording a charge to results related to the impairment on the assets of this project amounted to S/47,582,000, which is presented in the item &#x201c;impairment on subsidiary investment&#x201d; in the consolidated statement the profit or loss of the year 2017.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">The impairment was attributed to the equity holders of the parent and to the non-controlling interest for the amounts of S/25,444,000 and S/11,988,000, respectively, net of deferred income tax amounting to S/10,150,000.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 72pt">On the other hand, non-controlling interest made contributions during 2018 and 2017 amounted to S/1,405,000 and S/491,000, respectively, and were presented in the consolidated statement of changes in equity as &#x201c;contributions from non-controlling interest&#x201d;. It should be noted that the contribution made by the non-controlling interest in 2018 was originated by the payment of certain penalties corresponding to the concessions contributed in previous years by the non-controlling interest.</p><br/> 0.5001 0.5001 1.00 1.00 1.00 0.251 12335000 The spin-off contemplated that for each common and investment share of Cementos Pacasmayo S.A.A., the shareholders would receive approximately 0.20 common shares of Fossal S.A.A. and approximately 0.80 common shares of Cementos Pacasmayo S.A.A. 107593000 10224000 118569000 36957000 100357000 9148373 21206000 23459000 2253000 754000 47582000 25444000 11,988,000 10150000 1405000 491000 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: center">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Assets</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Liabilities</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Net equity</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="10" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Net income (loss)</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">Entity</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2017</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 19%; text-align: left">Cementos Selva S.A. and subsidiaries</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 6%; text-align: right">279,818</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 6%; text-align: right">240,844</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 6%; text-align: right">41,506</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 6%; text-align: right">30,149</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 6%; text-align: right">238,312</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 6%; text-align: right">210,695</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 6%; text-align: right">27,713</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 6%; text-align: right">24,261</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 6%; text-align: right">37,467</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -6.65pt; padding-left: 6.65pt">Distribuidora Norte Pacasmayo S.R.L. and subsidiary</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">326,949</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">308,158</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">184,904</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">178,905</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">142,045</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">129,253</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">13,108</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">4,867</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(220</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Empresa de Transmisi&#xf3;n Guadalupe S.A.C.</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">46,068</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">41,971</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">4,941</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">846</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">41,127</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">41,125</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">588</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">386</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">124</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -6.65pt; padding-left: 6.65pt">Salmueras Sudamericanas S.A., note 1.3</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">213</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">46</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">35</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">674</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">178</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(628</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(94</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(2,620</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(50,942</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -6.65pt; padding-left: 6.65pt">Calizas del Norte S.A.C. (in liquidation)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">694</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">703</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">2</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">692</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">703</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(11</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(3</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(121</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -6.65pt; padding-left: 6.65pt">Soluciones Takay S.A.C.</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">2,120</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">2,588</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(468</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(1,674</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -6.65pt; padding-left: 6.65pt">Fosfatos del Pac&#xed;fico S.A., note 1.2</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(1,216</td><td style="text-align: left">)</td></tr> </table> 279818000 240844000 41506000 30149000 238312000 210695000 27713000 24261000 37467000 326949000 308158000 184904000 178905000 142045000 129253000 13108000 4867000 -220000 46068000 41971000 4941000 846000 41127000 41125000 588000 386000 124000 213000 46000 35000 674000 178000 -628000 -94000 -2620000 -50942000 694000 703000 2000 692000 703000 -11000 -3000 -121000 2120000 2588000 -468000 -1674000 -1216000 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Fair value</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%; text-align: left">Inventories</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">6,849</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Machinery and equipment</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">2,749</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Brand and other intangibles, note 11 (c)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">25,152</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; text-align: left">Deferred income tax asset</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,866</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">36,616</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; text-align: left">Goodwill, note 12</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">4,459</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left">Total assets acquired</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: right">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">41,075</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table> 6849000 2749000 25152000 1866000 36616000 4459000 41075000 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Assets -</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%; text-align: left; text-indent: -8.8pt; padding-left: 8.8pt">Cash and cash equivalents</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">34,178</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -8.8pt; padding-left: 8.8pt">Accounts receivable from related parties</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">5,822</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -8.8pt; padding-left: 8.8pt">Inventories</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">2,694</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -8.8pt; padding-left: 8.8pt">Income tax prepayments</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">3,892</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -8.8pt; padding-left: 8.8pt">Other current assets</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">5,126</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -8.8pt; padding-left: 8.8pt">Other receivables non- current</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">50,200</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -8.8pt; padding-left: 8.8pt">Property, plant and equipment, net</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">204,975</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -8.8pt; padding-left: 8.8pt">Exploration and evaluation assets</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">52,578</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; text-align: left; text-indent: -8.8pt; padding-left: 8.8pt">Deferred income tax assets</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">23,173</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -8.8pt; padding-left: 8.8pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: right">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">382,638</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -8.8pt; padding-left: 8.8pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; text-indent: -8.8pt; padding-left: 8.8pt">Liabilities and equity -</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -8.8pt; padding-left: 8.8pt">Trade and other payables</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">8,938</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -8.8pt; padding-left: 8.8pt">Capital stock</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">107,593</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -8.8pt; padding-left: 8.8pt">Investment shares</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">10,224</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -8.8pt; padding-left: 8.8pt">Additional paid-in capital</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">118,569</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -8.8pt; padding-left: 8.8pt">Other reserves</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">36,957</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; text-align: left; text-indent: -8.8pt; padding-left: 8.8pt">Non-controlling interest</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">100,357</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -8.8pt; padding-left: 8.8pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt; text-indent: -8.8pt; padding-left: 8.8pt">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: right">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">382,638</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table> 34178000 5822000 2694000 3892000 5126000 50200000 204975000 52578000 23173000 382638000 8938000 107593000 10224000 118569000 36957000 100357000 382638000 <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.5in; text-align: left">2.</td><td>Significant accounting policies</td> </tr></table><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in">2.1</td><td>Basis of preparation &#x2013;</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0in">The consolidated financial statements of the Group have been prepared in accordance with International Financial Reporting Standards (IFRS), as issued by the International Accounting Standards Board (IASB).</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0in">The consolidated financial statements have been prepared on a historical cost basis, except for instruments designated at fair value through other comprehensive income (OCI) and derivative financial instruments that have been measured at fair value. The carrying values of recognized assets and liabilities that are designated as hedged items in fair value hedges that would otherwise be carried at amortized cost are adjusted to record changes in fair values attributable to the risks that are being hedged in effective hedge relationships. The consolidated financial statements are presented in soles and all values are rounded to the nearest thousand (S/000), except when otherwise indicated.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0in">The consolidated financial statements provide comparative information in respect of the previous period, there are certain standards and amendments applied for the first time by the Group during 2019 that did not require the restatement of previous financial statements, as explained in note 2.3.19.</p><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in">2.2</td><td>Basis of consolidation -<br/> The consolidated financial statements comprise the financial statements of the Company and its subsidiaries as of December 31, 2019 and 2018. Control is achieved when the Group is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. Specifically, the Group controls an investee if and only if it has: i) power over the investee (i.e., existing rights that give it the current ability to direct the relevant activities of the investee), ii) exposure, or rights, to variable returns from its involvement with the investee, and iii) the ability to use its power over the investee to affect its returns.</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0in">The Group reassesses whether or not it controls an investee if facts and circumstances indicate that there are changes to one or more of the three elements of control. Consolidation of a subsidiary begins when the Group obtains control over the subsidiary and ceases when the Group loses control of the subsidiary. Assets, liabilities, income and expenses of a subsidiary acquired or disposed of during the year are included in the consolidated financial statements from the date the Group gains control until the date the Group ceases to control the subsidiary.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0in">Profit or loss and each component of other comprehensive income (OCI) are attributed to the equity holders of the parent of the Group and to the non-controlling interests, even if this results in the non-controlling interests having a deficit balance. When necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with the Group&#xb4;s accounting policies. All intra-group assets and liabilities, equity, income, expenses and cash flows relating to transactions between members of the Group are eliminated in full on consolidation.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0in">A change in the ownership interest of a subsidiary, without a loss of control, is accounted for as an equity transaction.</p><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in">2.3</td><td>Summary of significant accounting policies -</td></tr></table><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1in"></td><td style="width: 0.5in">2.3.1</td><td>Cash and cash equivalents -</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Cash and cash equivalents presented in the statements of cash flows comprise cash at banks and on hand and short-term deposits with original maturity of three months or less.</p><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1in"></td><td style="width: 0.5in">2.3.2</td><td>Financial instruments-initial recognition and subsequent measurement -</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.</p><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1.5in"></td><td style="width: 0.5in">(i)</td><td>Financial assets -</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">Initial recognition and measurement -</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">Financial assets are classified at initial recognition as measured at amortized cost, fair value through other comprehensive income (OCI) or fair value through profit or loss.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">The Group&#x2019;s financial assets include cash and cash equivalents, commercial and other receivables, available-for-sale financial investments and derivative financial instruments.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">Subsequent measurement -</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">For purposes of subsequent measurement, financial assets are classified into the following categories:</p><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 2in"></td><td style="width: 28.35pt">-</td><td>Financial assets at amortized cost (debt instruments).</td></tr></table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 2in"></td><td style="width: 28.35pt">-</td><td>Financial assets at fair value through OCI with recycling of cumulative gains and losses (debt instruments).</td></tr></table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 2in"></td><td style="width: 28.35pt">-</td><td>Financial assets designated at fair value through OCI with not recycling of cumulative gains and losses upon derecognition (equity instruments).</td></tr></table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 2in"></td><td style="width: 28.35pt">-</td><td>Financial assets at fair value through profit or loss.</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">The classification depends on the business model of the Company and the contractual terms of the cash flows.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in"><i>Financial assets at amortized cost (debt instruments) -</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">The Group measures financial assets at amortized cost if both of the following conditions are met:</p><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 2in"></td><td style="width: 28.35pt">-</td><td>The financial asset is held within a business model with the objective to collect contractual cash flows and not sale or trade it, and </td></tr></table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 2in"></td><td style="width: 28.35pt">-</td><td>The contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">Financial assets at amortized cost are subsequently measured using the effective interest (EIR) method and are subject to impairment. Gains and losses are recognized in profit or loss when the asset is derecognized, modified or impaired.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 144pt">Financial assets are not reclassified after their initial recognition, unless the Group changes its business model for its management.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">The Group&#x2019;s financial assets at amortized cost includes trade and other receivables.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in"><i>Financial assets at fair value through OCI (debt instruments) -</i>The Group measures debt instruments at fair value through OCI if both of the following conditions are met: </p><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 2in"></td><td style="width: 28.35pt">-</td><td>The financial asset is held within a business model with the objective of both holding to collect contractual cash flows and selling, and</td></tr></table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 2in"></td><td style="width: 28.35pt">-</td><td>The contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">The Group does not have debt instruments classified in this category.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in"><i>Financial assets at fair value through OCI (equity instruments) -</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">Upon initial recognition, the Group can elect to classify irrevocably its equity investments as equity instruments designated at fair value through OCI when they meet the definition of equity and are not held for trading. The classification is determined on an instrument-by-instrument basis.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">Gains and losses on these financial assets are never recycled to profit or loss. Dividends are recognized as other income in the statement of profit or loss when the right of payment has been established, except when the Group benefits from such proceeds as a recovery of part of the cost of the financial asset, in which case, such gains are recorded in OCI. Equity instruments designated at fair value through OCI are not subject to impairment assessment.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">The Group elected to classify irrevocably its non-listed equity investments under this category, see note 9.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in"><i>Financial assets at fair value through profit or loss -</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">Financial assets at fair value through profit or loss include financial assets held for trading assets for trading derivate financial instruments, financial assets designated upon initial recognition at fair value through profit or loss, or financial assets mandatorily required to be measured at fair value. Financial assets are classified as held for trading if they are acquired for the purpose of selling or repurchasing in the near term. Financial assets with cash flows that are not solely payments of principal and interest are classified and measured at fair value through profit or loss, irrespective of the business model.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">Financial assets at fair value through profit or loss are carried in the statement of financial position at fair value and net changes in such fair value are presented as financial costs (net negative changes in fair value) or financial income (net positive changes in fair value) in the consolidated statement of profit or loss.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 144pt">As of December 31,2019, the Group did not have instruments classified in this category. As of December 31, 2018, the Group held assets for trading derivate financial instruments classified in this category.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">Derecognition -</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">A financial asset (or, where applicable, a part of a financial asset or part of a group of similar financial assets) is primarily derecognized (i.e., removed from the Group&#x2019;s consolidated statement of financial position) when:</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top"> <td style="width: 2in"></td><td style="width: 0.5in; text-align: left">-</td><td>The rights to receive cash flows from the asset have expired, or</td> </tr></table><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 2in"></td><td style="width: 0.5in">-</td><td>The Group has transferred its rights to receive cash flows from the asset or has assumed an obligation to pay the received cash flows in full without material delay to a third party under a &#x2018;pass-through&#x2019; arrangement<font style="font-family: Times New Roman, Times, Serif">&#x37e;</font> and either (a) the Group has transferred substantially all the risks and rewards of the asset, or (b) the Group has neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred control of the asset.</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">When the Group has transferred its rights to receive cash flows from an asset or has entered into a pass-through arrangement, it evaluates if, and to what extent, it has retained the risks and rewards of ownership. When it has neither transferred nor retained substantially all of the risks and rewards of the asset, nor transferred control of the asset, the Group continues to recognize the transferred asset to the extent of its continuing involvement. In that case, the Group also recognizes an associated liability. The transferred asset and the associated liability are measured on a basis that reflects the rights and obligations that the Group has retained.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">Continuing involvement that takes the form of a guarantee over the transferred asset is measured at the lower of the original carrying amount of the asset and the maximum amount of consideration that the Group could be required to repay.</p><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1.5in"></td><td style="width: 0.5in">(ii)</td><td>Impairment of financial assets -</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">The Group recognizes an allowance for expected credit losses (ECLs) for all debt instruments not held at fair value through profit or loss. ECLs are based on the difference between the contractual cash flows due in accordance with the contract and all the cash flows that the Group expects to receive, discounted at an approximation of the original effective interest rate. The expected cash flows will include cash flows from the sale of collateral held or other credit enhancements that are integral to the contractual terms.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">ECLs are recognized in two stages. For credit exposures for which there has not been a significant increase in credit risk since initial recognition, ECLs are provided for credit losses that result from default events that are possible within the next 12-months (a 12-month ECL). For those credit exposures for which there has been a significant increase in credit risk since initial recognition, a loss allowance is required for credit losses expected over the remaining life of the exposure, irrespective of the timing of the default (a lifetime ECL).</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">For trade receivables and contract assets, the Group applies a simplified approach in calculating ECLs. Therefore, the Group does not track changes in credit risk, but instead recognizes a loss allowance based on lifetime ECLs at each reporting date. The Group has established a provision matrix that is based on its historical credit loss experience, adjusted for forward-looking factors specific to the debtors and the economic environment.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">The Group considers a financial asset in default when contractual payments are 360 days past due. However, in certain cases, the Group may also consider a financial asset to be in default when internal or external information indicates that the Group is unlikely to receive the outstanding contractual amounts in full before considering any credit enhancements held by the Group. A financial asset is written off when there is no reasonable expectation of recovering the contractual cash flows.</p><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1.5in"></td><td style="width: 0.5in">(iii)</td><td>Financial liabilities -</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">Initial recognition and measurement -</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">Financial liabilities are classified, at initial recognition, as financial liabilities at fair value through profit or loss, loans and borrowings, payables, or as derivatives designated as hedging instruments in an effective hedge, as appropriate.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">All financial liabilities are recognized initially at fair value and, in the case of loans and borrowings and payables, net of directly attributable transaction costs.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">The Group&#x2019;s financial liabilities include trade and other payables, interest-bearing loans and borrowings.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">Subsequent measurement -</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">The subsequent measurement of financial liabilities depends on their classification, as described below:</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in"><i>Financial liabilities at fair value through profit or loss -</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">Financial liabilities at fair value through profit or loss include financial liabilities held for trading, trading derivate financial instruments and financial liabilities designated upon initial recognition as at fair value through profit or loss.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">Financial liabilities are classified as held for trading if they are incurred for the purpose of repurchasing in the near term; gains or losses on liabilities held for trading are recognized in the statement of profit or loss. This category also includes derivative financial instruments entered into by the Group that are not designated as hedging instruments in hedge relationships as defined by IFRS 9.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">Financial liabilities designated upon initial recognition at fair value through profit or loss are designated at the initial date of recognition, and only if the criteria in IFRS 9 are satisfied.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">As of December 31, 2019, the Group held liabilities for trading derivatives financial instruments classified in this category.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in"><i>Loans and borrowings -</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">After their initial recognition, interest-bearing loans and borrowings are subsequently measured at amortized cost using the EIR method. Gains and losses are recognized in the consolidated statement of profit or loss when the liabilities are derecognized as well as through the EIR amortization process.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-indent: 0in">Amortized cost is calculated by considering any discount or premium on acquisition and fees or costs that are an integral part of the EIR. The EIR amortization is included as finance costs in the consolidated statement of profit or loss.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 144pt">This category includes trade and other payables and interest-bearing loans and borrowings. For more information refer to notes 13 and 15.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">Derecognition -</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">A financial liability is derecognized when the obligation under the liability is discharged or cancelled or expires. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as a derecognition of the original liability and the recognition of a new liability. The difference in the respective carrying amount is recognized in the consolidated statement of profit or loss.</p><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1.5in"></td><td style="width: 0.5in">(iv)</td><td>Offsetting of financial instruments -</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">Financial assets and financial liabilities are offset, and the net amount is reported in the consolidated statement of financial position if there is a currently enforceable legal right to offset the recognized amounts and there is an intention to settle on a net basis, to realize the assets and settle the liabilities simultaneously.</p><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1.5in"></td><td style="width: 0.5in">(v)</td><td>Derivative financial instruments and hedge accounting &#x2013;</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">Initial recognition and subsequent measurement:</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">The Group uses derivative financial instruments, cross currency swaps (CCS), to hedge its foreign currency exchange rate risk. These derivative financial instruments are initially recognized at their fair values <font style="font-family: Times New Roman, Times, Serif">&#x200b;&#x200b;</font>on the date on which the derivative contract is entered into and subsequently are remeasured at their fair value. Derivatives are accounted for as financial assets when their fair value is positive and as financial liabilities when their fair value is negative.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">For the purpose of hedge accounting, hedges are classified as:</p><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 2in"></td><td style="width: 0.5in">-</td><td>Fair value hedges when hedging the exposure to changes in the fair value of a recognized asset or liability or an unrecognized firm commitment.</td></tr></table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 2in"></td><td style="width: 0.5in">-</td><td>Cash flow hedges when hedging the exposure to variability in cash flows that is either attributable to a particular risk associated with a recognized asset or liability or a highly probable forecast transaction or the foreign currency risk in an unrecognized firm commitment.</td></tr></table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 2in"></td><td style="width: 0.5in">-</td><td>Hedges of a net investment in a foreign operation.</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">At the inception of a hedge relationship, the Group formally designates and documents the hedge relationship to which the Group wishes to apply hedge accounting and the risk management objective and strategy for undertaking the hedge.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">The documentation includes identification of the hedging instrument, the hedged item or transaction, the nature of the risk being hedged and how the Group will assess the effectiveness of changes in the hedging instrument&#x2019;s fair value in offsetting the exposure to changes in the hedged item&#x2019;s fair value or cash flows attributable to the hedged risk. Such hedges expect to be highly effective in achieving offsetting changes in fair value or cash flows and are assessed on an ongoing basis to determine that they actually have been highly effective throughout the financial reporting periods for which they were designated.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">A hedging relationship qualifies for hedge accounting if it meets all of the following effectiveness requirements:</p><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 2in"></td><td style="width: 0.5in">-</td><td>There is &#x2018;an economic relationship&#x2019; between the hedged item and the hedging instrument.</td></tr></table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 2in"></td><td style="width: 0.5in">-</td><td>The effect of credit risk does not &#x2018;dominate the value changes&#x2019; that result from that economic relationship.</td></tr></table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 2in"></td><td style="width: 0.5in">-</td><td>The hedge ratio of the hedging relationship is the same as that resulting from the quantity of the hedged item that the Group actually hedges and the quantity of the hedging instrument that the Group actually uses to hedge that quantity of hedged item.</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">Hedges that meet all the qualifying criteria for hedge accounting are recorded as cash flow hedges.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">Cash flow hedges</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-indent: 0in">In case the cross currency swaps contracts are designated as hedging instrument, any gains or losses arising from changes in the fair value of derivatives is taken directly to profit or loss, except for the effective portion of cash flow hedges, which is recognized in OCI and later reclassified to profit or loss when the hedge item affects profit or loss.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">For any other cash flow hedges, the amount accumulated in OCI is reclassified to profit or loss as a reclassification adjustment in the same period or periods during which the hedged cash flows affect profit or loss.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-align: left">In addition, we have cash flow hedges for trading, its changes in fair value are recorded directly in profit or loss.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">In the case that the cash flow hedge is discontinued, the amount accumulated in other comprehensive income must remain in other comprehensive income accumulated if the covered cash flows are still expected to occur. Otherwise, the amount will be immediately reclassified to profit or loss as a reclassification adjustment. After discontinuation, once the covered cash flows are given, any amount that remains in other comprehensive accumulated results must be recorded considering the nature of the underlying transaction.&#xa0;</p><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1.5in"></td><td style="width: 0.5in">(vi)</td><td>Fair value measurement</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">The Group measures financial instruments such as derivatives, and equity investment, at fair value at each balance sheet date.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either:</p><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 2in"></td><td style="width: 0.5in">-</td><td>In the principal market for the asset or liability, or</td></tr></table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 2in"></td><td style="width: 0.5in">-</td><td>In the absence of a principal market, in the most advantageous market for the asset or liability.</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">The principal or the most advantageous market must be accessible by the Group.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability, assuming that market participants act in their economic best interest.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-indent: 0in">A fair value measurement of a non-financial asset considers a market participant&#x2019;s ability to generate economic benefits by using the asset in its highest and best use or by selling it to another market participant that would use the asset in its highest and best use.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">The Group uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized within the fair value accounting hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole:</p><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 2in"></td><td style="width: 0.5in">-</td><td>Level 1 &#x2013; Quoted (unadjusted) market prices in active markets for identical assets or liabilities</td></tr></table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 2in"></td><td style="width: 0.5in">-</td><td>Level 2 &#x2013; Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observable</td></tr></table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 2in"></td><td style="width: 0.5in">-</td><td>Level 3 &#x2013; Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">For assets and liabilities that are recognized in the financial statements at fair value on a recurring basis, the Group determines whether transfers have occurred between levels in the hierarchy by re-assessing categorization (based on the lowest level input that is significant to the fair value measurement as a whole) at the end of each reporting period.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">The Group&#x2019;s management determines the policies and procedures for recurring and non-recurring fair value measurements.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 144pt">At each reporting date, the Management of the Company analyzes the changes in the values &#x200b;&#x200b;of the assets and liabilities that must be measured or determined on a recurring and non-recurring basis according to the Group&#x2019;s accounting policies. For this analysis, Management contrasts the main variables used in the latest assessments made with updated information available from valuations included in contracts and other relevant documents.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">Management also compares the changes in the fair value of each asset and liability with the relevant external sources to determine whether the change is reasonable.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">For purposes of disclosure of fair value, the Group has determined classes of assets and liabilities based on the inherent nature, characteristics and risks of each asset and liability, and the level of the fair value accounting hierarchy as explained above.</p><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1in"></td><td style="width: 0.5in">2.3.3</td><td>Foreign currencies -</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 108pt">The functional and presentation currency for the consolidated financial statements of the Group is soles, which is also the functional currency for its subsidiaries.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in"><i>Transactions and balances</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Transactions in foreign currencies are initially recorded at their respective functional currency spot rates at the date the transaction first qualifies for recognition.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Monetary assets and liabilities denominated in foreign currencies are translated at the functional currency spot rates of exchange at the reporting date. Differences arising on settlement or translation of monetary items are recognized in profit or loss.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Non-monetary items that are measured in terms of historical cost in a foreign currency are translated using the exchange rates at the dates of the initial transactions.</p><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1in"></td><td style="width: 0.5in">2.3.4</td><td>Inventories -</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Inventories are valued at the lower of cost and net realizable value. Costs incurred in bringing each product to its present location and conditions are accounted for as follows:</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in"><i>Raw materials</i></p><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1.5in"></td><td style="width: 0.5in"><font style="font-family: Times New Roman, Times, Serif"><b>-</b></font></td><td>Purchase cost determined using the weighted average method.</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in"><i>Finished goods and work in progress</i></p><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1.5in"></td><td style="width: 0.5in"><font style="font-family: Times New Roman, Times, Serif"><b>-</b></font></td><td>Cost of direct materials and supplies, services provided by third parties, direct labor and a proportion of manufacturing overheads based on normal operating capacity, excluding borrowing costs and exchange currency differences.</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in"><i>Inventory in transit</i></p><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1.5in"></td><td style="width: 0.5in"><font style="font-family: Times New Roman, Times, Serif"><b>-</b></font></td><td>Purchase cost.</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Net realizable value is the estimated selling price in the ordinary course of business, less estimated cost of completion and the estimated costs necessary to make the sale.</p><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1in"></td><td style="width: 0.5in">2.3.5</td><td>Borrowing costs -</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Borrowing costs directly attributable to the acquisition, construction or production of an asset that necessarily takes a substantial period of time to get ready for its intended use or sale are capitalized as part of the cost of the respective asset. All other borrowing costs are expensed in the period in which they occur. Borrowing costs consist of interest and other costs that an entity incurs in connection with the borrowing of funds.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Where the funds used to finance a project form part of general borrowings, the amount capitalized is calculated using a weighted average of rates applicable to relevant general borrowings of the Group during the period. All other borrowing costs are recognized in the consolidated statement of profit or loss in the period in which they are incurred.</p><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1in"></td><td style="width: 0.5in">2.3.6</td><td>Leases -</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">The Group applied IFRS 16 for the first time on January 1, 2019, using the modified retroactive transition method, see effects of adoption in note 2.3.19. Under IFRS 16, the Group assesses at contract inception whether a contract is, or contains, a lease. That is, if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Group as a lessee:</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">The Group applies a single recognition and measurement approach for all leases, except for short-term leases and leases of low-value assets. The Group recognizes lease liabilities to make lease payments and right-of-use assets representing the right to use the underlying assets.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">i) Right of use assets</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">The Group recognizes right-of-use assets at the commencement date of the lease (the date the underlying asset is available for use). Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any remeasurement of lease liabilities. The cost of right-of-use assets includes the amount of lease liabilities recognized, initial direct costs incurred, and lease payments made at or before the commencement date less any lease incentives received. Right-of-use assets are depreciated on a straight-line basis over the shorter of the lease term and the estimated useful lives of the assets. If ownership of the leased asset transfers to the Group at the end of the lease term or the cost reflects the exercise of a purchase option, depreciation is calculated using the estimated useful life of the asset.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">The right-of-use assets are subject to impairment assessment if indications of impairment are presented.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">ii) Lease liabilities</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">At the commencement date of the lease, the Group recognizes lease liabilities measured at the present value of lease payments to be made over the lease term. The lease payments include fixed payments (including in substance fixed payments) less any lease incentives receivable, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value guarantees. Variable lease payments that do not depend on an index or a rate are recognized as expenses in the period in which the event or condition that triggers the payment occurs.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">In calculating the present value of lease payments, the Group uses its incremental borrowing rate at the lease commencement date because the interest rate implicit in the lease is not readily determinable. After the commencement date, the amount of lease liabilities is increased to reflect the accretion of interest and reduced for the lease payments made. In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the lease term, a change in the assessment of an option to purchase the underlying asset, a change in the amounts expected to be paid under residual value guarantee or changes to future payments resulting from a change in an index or rate used to determine such lease payments.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">The Group&#x2019;s lease liabilities are included in &#x201c;lease liabilities&#x201d; in the consolidated statement of financial position.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">iii) Short-term leases and leases of low-value assets</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">The Group applies the short-term lease recognition exemption to its short-term leases of machinery and equipment (i.e., those leases that have a lease term of 12 months or less from the commencement date and do not contain a purchase option). It also applies the lease of low-value assets recognition exemption to leases of office equipment that are considered to be low value.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in"><i>Group as a lessor:</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Leases in which the Group does not transfer substantially all the risks and rewards of ownership of an asset are classified as operating leases. Rental income arising is accounted for on a straight-line basis over the lease terms and is included in other income in the statement of profit or loss due to its operating nature. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognized over the lease term on the same basis as rental income. Contingent rents are recognized as revenue in the period in which they are earned.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">During 2017 and 2018, the Group applied previous lease standard (IAS17), the main difference is that under this standard, payments for operating expenses in the consolidated statement of profit or loss on a lineal amortization basis throughout the lease period. The criteria for accounting for financial leases and income for leases when the Group acts as lessor were similar to those established in IFRS 16.</p><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1in"></td><td style="width: 0.5in">2.3.7</td><td>Property, plant and equipment -</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Property, plant and equipment is stated at cost, net of accumulated depreciation and/or accumulated impairment losses, if any. Such cost includes the cost of replacing component parts of the property, plant and equipment and borrowing costs for long-term construction projects if the recognition criteria are met (see note 2.3.6). The capitalized value of a finance lease is also included within property, plant and equipment. When significant parts of plant and equipment are required to be replaced at intervals, the Group recognizes such parts as individual assets with specific useful lives and depreciated them separately based on their specific useful lives. Likewise, when major inspection is performed, its cost is recognized in the carrying amount of the plant and equipment as a replacement if the recognition criteria are satisfied. All other repair and maintenance costs are recognized in profit or loss as incurred.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 108pt">The present value of the expected cost for the decommissioning of an asset after its use is included in the cost of the respective asset if the recognition criteria for a provision are met. Reference is made to significant accounting judgments, estimates and assumptions (note 3) and decommissioning provisions (note 14).</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Depreciation of assets is determined using the straight-line method over the estimated useful lives of such assets as follows:</p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: center">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Years</td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Buildings and other constructions:</td><td>&#xa0;</td> <td style="text-align: center">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Administrative facilities</td><td>&#xa0;</td> <td style="text-align: center">Between 35 and 48</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Main production structures</td><td>&#xa0;</td> <td style="text-align: center">Between 30 and 49</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Minor production structures</td><td>&#xa0;</td> <td style="text-align: center">Between 20 and 35</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left">Machinery and equipment:</td><td>&#xa0;</td> <td style="text-align: center">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Mills and horizontal furnaces</td><td>&#xa0;</td> <td style="text-align: center">Between 42 and 49</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Vertical furnaces, crushers and grinders</td><td>&#xa0;</td> <td style="text-align: center">Between 23 and 36</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Electricity facilities and other minors</td><td>&#xa0;</td> <td style="text-align: center">Between 12 and 35</td></tr> <tr style="vertical-align: bottom; "> <td style="width: 79%; font-weight: bold; text-align: left">Furniture and fixtures</td><td style="width: 1%">&#xa0;</td> <td style="width: 20%; text-align: center">10</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Transportation units:</td><td>&#xa0;</td> <td style="text-align: center">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Heavy units</td><td>&#xa0;</td> <td style="text-align: center">Between 11 and 21</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Light units</td><td>&#xa0;</td> <td style="text-align: center">Between 8 and 11</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left">Computer equipment</td><td>&#xa0;</td> <td style="text-align: center">4</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Tools</td><td>&#xa0;</td> <td style="text-align: center">Between 5 and 10</td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: 0in">The asset&#x2019;s residual value, useful lives and methods of depreciation are reviewed at each reporting period and adjusted prospectively if appropriate.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">An item of property, plant and equipment and any significant part initially recognized is derecognized upon disposal or when no future economic benefits are expected from its use or disposal. Any gain or loss arising on derecognition of the asset (calculated as the difference between the net disposal proceeds and the carrying amount of the asset) is included in the consolidated statement of profit or loss when the asset is derecognized.</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top"> <td style="width: 1in"></td><td style="width: 0.5in; text-align: left">2.3.8</td><td>Mining concessions -</td> </tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 108pt">Mining concessions correspond to the exploration rights in areas of interest acquired. Mining concessions are stated at cost, net of accumulated amortization and/or accumulated impairment losses, if any, and are presented within &#x201c;Property, plant and equipment&#x201d; on the consolidated statement of financial position. Those mining concessions are amortized starting from the production phase following the units-of-production method based on proved reserves to which they relate. The unit-of-production rate for the amortization of mining concessions considers expenditures incurred to the date of the calculation. If the Group abandons the concession, the costs associated are written-off in the consolidated statement of profit or loss.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 108pt">As of December 31, 2019 and 2018, mining concessions of the Group corresponded to areas that contain raw material necessary for cement production.</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top"> <td style="width: 1in"></td><td style="width: 0.5in">2.3.9</td><td>Quarry development costs and stripping costs -</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in"><i>Quarry development costs -</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Quarry development costs incurred are stated at cost and are the next step in development of quarries after exploration and evaluation stage. Quarry development costs are, upon commencement of the production phase, presented net of accumulated amortization and/or accumulated impairment losses, if any, and are presented within the property, plant and equipment caption. The amortization is calculated using the straight-line method based on useful live of the quarry to which relate. Expenditures that increase significantly the economic life of the quarry under exploitation are capitalized.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in"><i>Stripping costs -</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Stripping costs incurred in the development of a mine before production commences are capitalized as part of mine development costs and subsequently amortized it&#x2019;s the life on a units-of-production basis, using the proved reserves.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Stripping costs incurred subsequently during the production phase of its operation are recorded as part of cost of production.</p><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1in"></td><td style="width: 0.5in">2.3.10</td><td style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Intangible assets</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Intangible assets acquired separately are measured on initial recognition at cost. The cost of intangible assets acquired in a business combination is their fair value at the date of acquisition. Following initial recognition, intangible assets are carried at cost less any accumulated amortization and accumulated impairment losses. Internally generated intangibles, excluding capitalized development costs, are not capitalized and the related expenditure is reflected in profit or loss in the period in which the expenditure is incurred.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">The useful lives of intangible assets are assessed as either finite or indefinite.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: 0in">Intangible assets with finite live are amortized over the useful economic life and assessed for impairment whenever there is an indication that the intangible asset may be impaired. The amortization period and the amortization method for an intangible asset with a finite useful life are reviewed at least at the end of each reporting period. Changes in the expected useful life or the expected pattern of consumption of future economic benefits embodied in the asset are considered to modify the amortization period or method, as appropriate, and are treated as changes in accounting estimates. The amortization expense on intangible assets with finite lives is recognized in the statement of profit or loss in the expense category that is consistent with the function of the intangible assets.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">The Group&#x2019;s intangible assets with finite useful lives are amortized in an average term of ten years.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 108pt">Intangible assets with indefinite useful lives are not amortized, but are tested for impairment annually, either individually or at the cash-generating unit level. The assessment of indefinite life is reviewed annually to determine whether the indefinite life continues to be supportable. If not, the change in useful life from indefinite to finite is made on a prospective basis. As of December 31, 2019 and 2018, the Company maintained as intangible assets with an indefinite useful the fair value of the brand acquired in the transaction described in note 1.1.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Any gain or loss arising upon derecognition of the asset (calculated as the difference between the net disposal proceeds and the carrying amount of the asset) is included in the statement of profit or loss.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Exploration and evaluation assets -</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Exploration and evaluation activity involves the search for mineral resources, the determination of technical feasibility and the assessment of commercial viability of an identified resource. Exploration and evaluation activity includes:</p><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1.5in"></td><td style="width: 28.35pt">-</td><td>Researching and analyzing historical exploration data.</td></tr></table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1.5in"></td><td style="width: 28.35pt">-</td><td>Gathering exploration data through geophysical studies.</td></tr></table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1.5in"></td><td style="width: 28.35pt">-</td><td>Exploratory drilling and sampling.</td></tr></table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1.5in"></td><td style="width: 28.35pt">-</td><td>Determining and examining the volume and grade of the resource.</td></tr></table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1.5in"></td><td style="width: 28.35pt">-</td><td>Surveying transportation and infrastructure requirements.</td></tr></table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1.5in"></td><td style="width: 28.35pt">-</td><td>Conducting market and finance studies.</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">License costs paid in connection with a right to explore in an existing exploration area are capitalized and amortized over the term of the license.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Once the legal right to explore has been acquired, exploration and evaluation costs are charged to the consolidated statement of profit or loss, unless management concludes that a future economic benefit is more likely than not to be realized, in which case such costs are capitalized. These costs include directly attributable employee remuneration, materials and fuel used, surveying costs, drilling costs and payments made to contractors.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">In evaluating if costs meet the criteria to be capitalized, several different sources of information are used, including the nature of the assets, extension of the explored area and results of sampling, among others. The information that is used to determine the probability of future benefits depends on the extent of exploration and evaluation that has been performed.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Exploration and evaluation costs are capitalized when the exploration and evaluation activity is within an area of interest for which it is expected that the costs will be recouped by future exploitation and active and significant operations in relation to the area are continuing or planned for the future.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">The main estimates and assumptions the Group uses to determine whether is likely that future exploitation will result in future economic benefits include: expected operational costs, committed capital expenditures, expected mineral prices and mineral resources found. For this purpose, the future economic benefit of the project can reasonably be regarded as assured when mine-site exploration is being conducted to confirm resources, mine-site exploration is being conducted to convert resources to reserves or when the Group is conducting a feasibility study, based on supporting geological information.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">As the capitalized exploration and evaluation costs asset is not available for use, it is not amortized. These exploration costs are transferred to mine development assets once the work completed to date supports the future development of the property and such development receives appropriate approvals. In this phase, the exploration costs are amortized in accordance with the estimated useful life of the mining property from the time the commercial exploitation of the reserves begins. All capitalized exploration and evaluation costs are monitored for indications of impairment. Where a potential impairment is indicated, assessment is performed for each area of interest in conjunction with the group of operating assets (representing a cash generating unit) to which the exploration is attributed.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Exploration areas in which resources have been discovered but require major capital expenditure before production can begin, are continually evaluated to ensure that commercial quantities of resources exist or to ensure that additional exploration work are under way or planned. To the extent that capitalized expenditure is no longer expected to be recovered it is charged to the consolidated statement of profit or loss. The Group assesses at each reporting date whether there is an indication that an exploration and evaluation assets may be impaired. The following facts and circumstances are considered in this assessment:</p><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1.5in"></td><td style="width: 0.5in">(i)</td><td>the period for which the entity has the right to explore in the specific area has expired during the period or will expire in the near future and is not expected to be renewed.</td></tr></table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1.5in"></td><td style="width: 0.5in">(ii)</td><td>substantive expenditure on further exploration for and evaluation of mineral resources in the specific area is neither budgeted nor planned.</td></tr></table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1.5in"></td><td style="width: 0.5in">(iii)</td><td>exploration for and evaluation of mineral resources in the specific area have not led to the discovery of commercially viable quantities of mineral resources and the entity has decided to discontinue such activities in the specific area.</td></tr></table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1.5in"></td><td style="width: 0.5in">(iv)</td><td>sufficient data exist to indicate that, although a development in the specific area is likely to proceed, the carrying amount of the exploration and evaluation asset is unlikely to be recovered in full from successful development or by sale.</td></tr></table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1in"></td><td style="width: 0.5in">2.3.11</td><td>Ore reserve and resource estimates -</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Ore reserves are estimates of the amount of ore that can be economically and legally extracted from the Group&#x2019;s mining properties and concessions. The Group estimates its ore reserves and mineral resources, based on information compiled by appropriately qualified persons relating to the geological data on the size, depth and shape of the ore body, and requires complex geological judgments to interpret the data. The estimation of recoverable reserves is based upon factors such as estimates of foreign exchange rates, commodity prices, future capital requirements, and production costs, along with geological assumptions and judgments made in estimating the size and grade of the ore body. Changes in the reserve or resource estimates may impact upon the carrying value of exploration and evaluation assets, provision for rehabilitation and depreciation and amortization charges.</p><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1in"></td><td style="width: 0.5in">2.3.12</td><td>Impairment of non-financial assets &#x2013;</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">The Group assesses, at each reporting date, whether there is an indication that an asset may be impaired. If any indication exists, or when annual impairment testing for an asset is required (goodwill and Intangible assets with indefinite useful lives), the Group estimates the asset&#x2019;s recoverable amount. An asset&#x2019;s recoverable amount is the higher of an asset&#x2019;s or cash-generating unit&#x2019;s (CGU) fair value less costs of disposal and its value in use and is determined for an individual asset, unless the asset does not generate cash inflows that are largely independent of those from other assets or groups of assets. Where the carrying amount of an asset of CGU exceeds its recoverable amount, the asset is considered impaired and is written down to its recoverable amount.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. In determining fair value less costs of disposal, recent market transactions are considered. If no such transactions can be identified, an appropriate valuation model is used. These calculations are corroborated by valuation multiples, quoted share prices for publicly traded companies or other available fair value indicators.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 108pt">The Group supports its impairment calculation with detailed budgets and forecast calculations, which are prepared separately for each of the Group&#xb4;s CGUs to which the individual assets are allocated.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Impairment losses of continuing operations, including impairment on inventories, are recognized in the consolidated statement of profit or loss in expense categories consistent with the function of the impaired asset.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">In addition, an assessment is made at each reporting date to determine whether there is any indication that previously recognized impairment losses may no longer exist or have decreased. If such indication exists, the Group estimates the asset&#x2019;s or CGU&#x2019;s recoverable amount. A previously recognized impairment loss is reversed only if there has been a change in the assumptions used to determine the asset&#x2019;s recoverable amount since the last impairment loss was recognized. The reversal is limited so that the carrying amount of the asset does not exceed its recoverable amount, nor exceed the carrying amount that would have been determined, net of depreciation, had no impairment loss been recognized for the asset in prior years. Such reversal is recognized in the consolidated statement of profit or loss.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Exploration and evaluation assets are tested for impairment annually as of December 31, either individually or at the cash-generating unit level, as appropriate, and when circumstances indicate that the carrying value may be impaired.</p><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1in"></td><td style="width: 0.5in">2.3.13</td><td>Provisions -</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in"><i>General -</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Provisions are recognized when the Group has a present obligation (legal or constructive) as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. When the Group expects some or all of a provision to be reimbursed, for example under an insurance contract, the reimbursement is recognized as a separate asset but only when the reimbursement is virtually certain. The expense relating to any provision is presented in profit or loss net of any reimbursement.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate that reflects where appropriate, the risks specific to the liability. When discounting is used, the increase in the provision due to the passage of time is recognized as finance cost in the consolidated statement of profit or loss.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in"><i>Rehabilitation provision -</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">The Group records the present value of estimated costs of legal and constructive obligations required to restore operating locations in the period in which the obligation is incurred. Rehabilitation costs are provided at the present value of expected costs to settle the obligation using estimated cash flows and are recognized as part of the cost of that particular asset. The cash flows are discounted at a current risk-free pre-tax rate. The unwinding of the discount is expensed as incurred and recognized in the consolidated statement of profit or loss as a finance cost. The estimated future costs of rehabilitation are reviewed annually and adjusted as appropriate. Changes in the estimated future costs or in the discount rate applied are added to or deducted from the cost of the asset.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in"><i>Environmental expenditures and liabilities -</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in">Environmental expenditures that relate to current or future revenues are expensed or capitalized as appropriate. Expenditures that relate to an existing condition caused by past operations and do not contribute to current or future earnings are expensed.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in">Liabilities for environmental costs are recognized when a clean-up is probable, and the associated costs can be reliably estimated. Generally, the timing of recognition of these provisions coincides with the commitment to a formal plan of action or, if earlier, on divestment or on closure of inactive sites.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in">The amount recognized is the best estimate of the expenditure required. Where the liability will not be settled for a number of years, the amount recognized is the present value of the estimated future expenditure.</p><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1in"></td><td style="width: 0.5in">2.3.14</td><td>Employees benefits -</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">The Group has short-term obligations for employee benefits including salaries, severance contributions, legal bonuses, performance bonuses and profit sharing. These obligations are monthly recorded on an accrual basis.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Additionally, the Group has a long-term incentive plan for key management. This benefit is settled in cash, measured on the salary of each officer and upon fulfilling certain conditions such as years of experience within the Group and permanency. According to IAS 19 &#x201c;Employee benefits&#x201d;, the Group recognizes the long-term obligation at its present value at the end of the reporting period using the projected credit unit method. To calculate the present value of these long-term obligations the Group uses a government bond discount rate at the date of the consolidated financial statements. This liability is annually reviewed on the date of the consolidated financial statements, and the accrual updates and the effect of changes in discount rates are recognized in the consolidated statement of profit or loss, until the liability is extinguished.</p><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1in"></td><td style="width: 0.5in">2.3.15</td><td>Revenue recognition -</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">The group is dedicated to the production and trading of cement, precast, concrete and quicklime, as well as trade of construction supplies. These goods are sold in contracts with customers. The Group has concluded that it is principal in its sales agreements because it controls the goods or services before transferring to the customer.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Revenue is measured at the fair value of the consideration received or receivable, considering contractually defined terms of payment and excluding taxes or duty.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">The following specific recognition criteria must also be met before revenue is recognized:</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in"><i>Sales of goods -</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Revenue from sale of goods is recognized at the point in time when control of the asset is transferred to the customer, generally on delivery of the goods.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">The Group considers whether there are other promises in the contract that are separate performance obligations to which a portion of the transaction price needs to be allocated. In determining the transaction price for the sale of goods, the Group considers the effects of variable consideration, the existence of significant financing components, noncash consideration, and consideration payable to the customer (if any).</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Rendering of services -</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">In the business segments of cement, quicklime, concrete, precast and construction supplies, the Group provides transportation services. These services are sold together with the sale of the goods to the customer.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Transportation services are satisfied when the transport service is concluded, which coincides with the moment of delivery of the goods to the customers.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in"><i>Operating lease income -</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Income from operating lease of land and office was recognized on a monthly accrual basis during the term of the lease.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in"><i>Interest income -</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">For all financial instruments measured at amortized cost and interest-bearing financial assets, interest income is recorded using the effective interest rate (EIR). EIR is the rate that exactly discounts the estimated future cash payments or receipts over the expected life of the financial instrument or a shorter period, where appropriate, to the net carrying amount of the financial asset or liability. Interest income is included in finance income in the consolidated statement of profit or loss.</p><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1in"></td><td style="width: 0.5in">2.3.16</td><td>Taxes -</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in"><i>Current income tax -</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Current income tax assets and liabilities are measured at the amount expected to be recovered from or paid to the tax authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted, at the reporting date in Peru, where the Group operates and generates taxable income.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Current income tax relating to items recognized directly in equity is recognized in equity and not in the consolidated statement of profit or loss. Management periodically evaluates positions taken in the tax returns with respect to situations in which applicable tax regulations are subject to interpretation and establishes provisions where appropriate.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in"><i>Deferred tax -</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Deferred tax is provided using the liability method on temporary differences between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes at the reporting date.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Deferred tax liabilities are recognized for all taxable temporary differences, except in respect of taxable temporary differences associated with investments in subsidiaries, associates and interests in joint arrangements, when the timing of the reversal of the temporary differences can be controlled and it is probable that the temporary differences will not reverse in the foreseeable future.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Deferred tax assets are recognized for all deductible temporary differences, the carry forward of unused tax credits and unused tax losses. Deferred tax assets are recognized to the extent that it is probable that taxable profit will be available against which the deductible temporary differences, and the carry forward of unused tax credits and unused tax losses can be utilized, except in respect of deductible temporary differences associated with investments in subsidiaries, where deferred assets are recognized only to the extent that it is probable that the temporary differences will reverse in the foreseeable future and taxable profit will be available against which the temporary differences can be utilized.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilized. Unrecognized deferred tax assets are re-assessed at each reporting date and are recognized to the extent that it has become probable that future taxable profits will allow the deferred tax asset to be recovered.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the asset is realized, or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the reporting date.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Deferred tax related to items recognized outside profit or loss is recognize outside profit or loss. Deferred tax items are recognized in correlation to the underlying transaction either in OCI or directly in equity.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right exists to set off current tax assets against current income tax liabilities and the deferred taxes relate to the same taxable entity and the same taxation authority.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in"><i>Mining royalties -</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Mining royalties are accounted for under IAS 12 when they have the characteristics of an income tax. This is considered to be the case when they are imposed under government authority and the amount payable is based on taxable net income, rather than based on quantity produced or as a percentage of revenue, after adjustment for temporary differences. For such arrangements, current and deferred tax is provided on the same basis as described above for income tax. Obligations arising from royalty arrangements that do not satisfy these criteria are recognized as current provisions and included in results of the year.</p><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1in"></td><td style="width: 0.5in">2.3.17</td><td>Investment shares holds in treasury -</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Owned equity instruments which are reacquired (treasury shares) are recognized at cost and deducted from equity. No gain or loss is recognized in the consolidated statement of profit or loss on the purchase, sale, issue or cancellation of the Group&#x2019;s own equity instruments.</p><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1in"></td><td style="width: 0.5in">2.3.18</td><td>Business combinations and goodwill -</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">A&#xa0;business&#xa0;consists of inputs and processes applied to those inputs that have the ability to create contribute to the creation of outputs. Business combinations are accounted for using the acquisition method. The cost of an acquisition is measured as the aggregate of the consideration transferred, which is measured at acquisition date fair value, and the amount of any non-controlling interests in the acquiree. For each business combination, the Group elects whether to measure the non-controlling interests in the acquiree at fair value or at the proportionate share of the acquiree&#x2019;s identifiable net assets. Acquisition-related costs are expensed as incurred and included in administrative expenses of the consolidated statement of profit or loss.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">When the Group acquires a business, it assesses the financial assets and liabilities assumed for appropriate classification and designation in accordance with the contractual terms, economic circumstances and pertinent conditions as at the acquisition date.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Any contingent consideration to be transferred by the acquirer will be recognized at fair value at the acquisition date. Contingent consideration classified as equity is not remeasured and its subsequent settlement is accounted for within equity. Contingent consideration classified as an asset or liability that is a financial instrument and within the scope of IFRS 9 Financial Instruments, is measured at fair value with the changes in fair value recognized in the statement of profit or loss in accordance with IFRS 9. Other contingent consideration that is not within the scope of IFRS 9 is measured at fair value at each reporting date with changes in fair value recognized in profit or loss.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Goodwill</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: 0in">Goodwill is the excess of the aggregate of the consideration transferred on the asset&#x2019;s acquisitions described in note 1.1, over the fair value of the acquire assets.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Goodwill is initially measured at cost (being the excess of the aggregate of the consideration transferred and the amount recognized for non-controlling interests and any previous interest held over the net identifiable assets acquired and liabilities assumed). If the reassessment still results in an excess of the fair value of net assets acquired over the aggregate consideration transferred, then the gain is recognized in profit or loss.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">After initial recognition, goodwill is measured at cost less any accumulated impairment losses. For the purpose of impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated to each of the Group&#x2019;s cash-generating units that are expected to benefit from the combination, irrespective of whether other assets or liabilities of the acquiree are assigned to those units.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">The Group perform impairment tests of the goodwill annually. The impairment of the goodwill is determined estimating the recoverable amount of the cash generating units related to it. When the recoverable amount of the cash generating units is lower than the carrying value, an impairment is recognized. Impairment related to goodwill cannot be reversed in future periods.</p><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1in"></td><td style="width: 0.5in">2.3.19</td><td>New amended standards and interpretations &#x2013;</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0pt">IFRS 16 Leases</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in">The Group applied IFRS 16 for the first time on January 1, 2019 through the modified retroactive transition method, the criteria for the recognition of asset for use rights and liabilities for leases are those described in note 2.3.6.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in">The weighted average lessee&#x2019;s incremental borrowing rate applied to the lease liabilities on January 1, 2019 was 6.23 percent per year in soles.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in">The change in the accounting policy affected the following items of the interim condensed consolidated statement of financial position:</p><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1.5in"></td><td style="width: 0.5in">-</td><td>Increase in right-of-use assets (&#x201c;Other assets&#x201d; caption) by S/124,000.</td></tr></table><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1.5in"></td><td style="width: 0.5in">-</td><td>Increase in lease liabilities by S/137,000.</td></tr></table><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1.5in"></td><td style="width: 0.5in">-</td><td>Reduction of accumulated results in equity by S/13,000.</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in">Several other amendments and interpretations, including IFRIC 23 &#x201c;Uncertainty over Income Tax Treatments&#x201d; apply for the first time as of January 1, 2019, but do not have an impact on the consolidated financial statements of the Group.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in">The Group has not adopted early any standard, interpretation or modification that has been issued but is not yet in force</p><br/> <table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"><td style="width: 0.5in">2.3.1</td><td>Cash and cash equivalents -</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Cash and cash equivalents presented in the statements of cash flows comprise cash at banks and on hand and short-term deposits with original maturity of three months or less.</p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"><td style="width: 0.5in">2.3.2</td><td>Financial instruments-initial recognition and subsequent measurement -</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.</p><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1.5in"></td><td style="width: 0.5in">(i)</td><td>Financial assets -</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">Initial recognition and measurement -</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">Financial assets are classified at initial recognition as measured at amortized cost, fair value through other comprehensive income (OCI) or fair value through profit or loss.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">The Group&#x2019;s financial assets include cash and cash equivalents, commercial and other receivables, available-for-sale financial investments and derivative financial instruments.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">Subsequent measurement -</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">For purposes of subsequent measurement, financial assets are classified into the following categories:</p><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 2in"></td><td style="width: 28.35pt">-</td><td>Financial assets at amortized cost (debt instruments).</td></tr></table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 2in"></td><td style="width: 28.35pt">-</td><td>Financial assets at fair value through OCI with recycling of cumulative gains and losses (debt instruments).</td></tr></table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 2in"></td><td style="width: 28.35pt">-</td><td>Financial assets designated at fair value through OCI with not recycling of cumulative gains and losses upon derecognition (equity instruments).</td></tr></table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 2in"></td><td style="width: 28.35pt">-</td><td>Financial assets at fair value through profit or loss.</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">The classification depends on the business model of the Company and the contractual terms of the cash flows.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in"><i>Financial assets at amortized cost (debt instruments) -</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">The Group measures financial assets at amortized cost if both of the following conditions are met:</p><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 2in"></td><td style="width: 28.35pt">-</td><td>The financial asset is held within a business model with the objective to collect contractual cash flows and not sale or trade it, and </td></tr></table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 2in"></td><td style="width: 28.35pt">-</td><td>The contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">Financial assets at amortized cost are subsequently measured using the effective interest (EIR) method and are subject to impairment. Gains and losses are recognized in profit or loss when the asset is derecognized, modified or impaired.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 144pt">Financial assets are not reclassified after their initial recognition, unless the Group changes its business model for its management.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">The Group&#x2019;s financial assets at amortized cost includes trade and other receivables.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in"><i>Financial assets at fair value through OCI (debt instruments) -</i>The Group measures debt instruments at fair value through OCI if both of the following conditions are met: </p><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 2in"></td><td style="width: 28.35pt">-</td><td>The financial asset is held within a business model with the objective of both holding to collect contractual cash flows and selling, and</td></tr></table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 2in"></td><td style="width: 28.35pt">-</td><td>The contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">The Group does not have debt instruments classified in this category.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in"><i>Financial assets at fair value through OCI (equity instruments) -</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">Upon initial recognition, the Group can elect to classify irrevocably its equity investments as equity instruments designated at fair value through OCI when they meet the definition of equity and are not held for trading. The classification is determined on an instrument-by-instrument basis.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">Gains and losses on these financial assets are never recycled to profit or loss. Dividends are recognized as other income in the statement of profit or loss when the right of payment has been established, except when the Group benefits from such proceeds as a recovery of part of the cost of the financial asset, in which case, such gains are recorded in OCI. Equity instruments designated at fair value through OCI are not subject to impairment assessment.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">The Group elected to classify irrevocably its non-listed equity investments under this category, see note 9.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in"><i>Financial assets at fair value through profit or loss -</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">Financial assets at fair value through profit or loss include financial assets held for trading assets for trading derivate financial instruments, financial assets designated upon initial recognition at fair value through profit or loss, or financial assets mandatorily required to be measured at fair value. Financial assets are classified as held for trading if they are acquired for the purpose of selling or repurchasing in the near term. Financial assets with cash flows that are not solely payments of principal and interest are classified and measured at fair value through profit or loss, irrespective of the business model.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">Financial assets at fair value through profit or loss are carried in the statement of financial position at fair value and net changes in such fair value are presented as financial costs (net negative changes in fair value) or financial income (net positive changes in fair value) in the consolidated statement of profit or loss.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 144pt">As of December 31,2019, the Group did not have instruments classified in this category. As of December 31, 2018, the Group held assets for trading derivate financial instruments classified in this category.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">Derecognition -</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">A financial asset (or, where applicable, a part of a financial asset or part of a group of similar financial assets) is primarily derecognized (i.e., removed from the Group&#x2019;s consolidated statement of financial position) when:</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top"> <td style="width: 2in"></td><td style="width: 0.5in; text-align: left">-</td><td>The rights to receive cash flows from the asset have expired, or</td> </tr></table><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 2in"></td><td style="width: 0.5in">-</td><td>The Group has transferred its rights to receive cash flows from the asset or has assumed an obligation to pay the received cash flows in full without material delay to a third party under a &#x2018;pass-through&#x2019; arrangement<font style="font-family: Times New Roman, Times, Serif">&#x37e;</font> and either (a) the Group has transferred substantially all the risks and rewards of the asset, or (b) the Group has neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred control of the asset.</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">When the Group has transferred its rights to receive cash flows from an asset or has entered into a pass-through arrangement, it evaluates if, and to what extent, it has retained the risks and rewards of ownership. When it has neither transferred nor retained substantially all of the risks and rewards of the asset, nor transferred control of the asset, the Group continues to recognize the transferred asset to the extent of its continuing involvement. In that case, the Group also recognizes an associated liability. The transferred asset and the associated liability are measured on a basis that reflects the rights and obligations that the Group has retained.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">Continuing involvement that takes the form of a guarantee over the transferred asset is measured at the lower of the original carrying amount of the asset and the maximum amount of consideration that the Group could be required to repay.</p><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1.5in"></td><td style="width: 0.5in">(ii)</td><td>Impairment of financial assets -</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">The Group recognizes an allowance for expected credit losses (ECLs) for all debt instruments not held at fair value through profit or loss. ECLs are based on the difference between the contractual cash flows due in accordance with the contract and all the cash flows that the Group expects to receive, discounted at an approximation of the original effective interest rate. The expected cash flows will include cash flows from the sale of collateral held or other credit enhancements that are integral to the contractual terms.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">ECLs are recognized in two stages. For credit exposures for which there has not been a significant increase in credit risk since initial recognition, ECLs are provided for credit losses that result from default events that are possible within the next 12-months (a 12-month ECL). For those credit exposures for which there has been a significant increase in credit risk since initial recognition, a loss allowance is required for credit losses expected over the remaining life of the exposure, irrespective of the timing of the default (a lifetime ECL).</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">For trade receivables and contract assets, the Group applies a simplified approach in calculating ECLs. Therefore, the Group does not track changes in credit risk, but instead recognizes a loss allowance based on lifetime ECLs at each reporting date. The Group has established a provision matrix that is based on its historical credit loss experience, adjusted for forward-looking factors specific to the debtors and the economic environment.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">The Group considers a financial asset in default when contractual payments are 360 days past due. However, in certain cases, the Group may also consider a financial asset to be in default when internal or external information indicates that the Group is unlikely to receive the outstanding contractual amounts in full before considering any credit enhancements held by the Group. A financial asset is written off when there is no reasonable expectation of recovering the contractual cash flows.</p><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1.5in"></td><td style="width: 0.5in">(iii)</td><td>Financial liabilities -</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">Initial recognition and measurement -</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">Financial liabilities are classified, at initial recognition, as financial liabilities at fair value through profit or loss, loans and borrowings, payables, or as derivatives designated as hedging instruments in an effective hedge, as appropriate.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">All financial liabilities are recognized initially at fair value and, in the case of loans and borrowings and payables, net of directly attributable transaction costs.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">The Group&#x2019;s financial liabilities include trade and other payables, interest-bearing loans and borrowings.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">Subsequent measurement -</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">The subsequent measurement of financial liabilities depends on their classification, as described below:</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in"><i>Financial liabilities at fair value through profit or loss -</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">Financial liabilities at fair value through profit or loss include financial liabilities held for trading, trading derivate financial instruments and financial liabilities designated upon initial recognition as at fair value through profit or loss.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">Financial liabilities are classified as held for trading if they are incurred for the purpose of repurchasing in the near term; gains or losses on liabilities held for trading are recognized in the statement of profit or loss. This category also includes derivative financial instruments entered into by the Group that are not designated as hedging instruments in hedge relationships as defined by IFRS 9.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">Financial liabilities designated upon initial recognition at fair value through profit or loss are designated at the initial date of recognition, and only if the criteria in IFRS 9 are satisfied.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">As of December 31, 2019, the Group held liabilities for trading derivatives financial instruments classified in this category.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in"><i>Loans and borrowings -</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">After their initial recognition, interest-bearing loans and borrowings are subsequently measured at amortized cost using the EIR method. Gains and losses are recognized in the consolidated statement of profit or loss when the liabilities are derecognized as well as through the EIR amortization process.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-indent: 0in">Amortized cost is calculated by considering any discount or premium on acquisition and fees or costs that are an integral part of the EIR. The EIR amortization is included as finance costs in the consolidated statement of profit or loss.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 144pt">This category includes trade and other payables and interest-bearing loans and borrowings. For more information refer to notes 13 and 15.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">Derecognition -</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">A financial liability is derecognized when the obligation under the liability is discharged or cancelled or expires. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as a derecognition of the original liability and the recognition of a new liability. The difference in the respective carrying amount is recognized in the consolidated statement of profit or loss.</p><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1.5in"></td><td style="width: 0.5in">(iv)</td><td>Offsetting of financial instruments -</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">Financial assets and financial liabilities are offset, and the net amount is reported in the consolidated statement of financial position if there is a currently enforceable legal right to offset the recognized amounts and there is an intention to settle on a net basis, to realize the assets and settle the liabilities simultaneously.</p><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1.5in"></td><td style="width: 0.5in">(v)</td><td>Derivative financial instruments and hedge accounting &#x2013;</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">Initial recognition and subsequent measurement:</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">The Group uses derivative financial instruments, cross currency swaps (CCS), to hedge its foreign currency exchange rate risk. These derivative financial instruments are initially recognized at their fair values <font style="font-family: Times New Roman, Times, Serif">&#x200b;&#x200b;</font>on the date on which the derivative contract is entered into and subsequently are remeasured at their fair value. Derivatives are accounted for as financial assets when their fair value is positive and as financial liabilities when their fair value is negative.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">For the purpose of hedge accounting, hedges are classified as:</p><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 2in"></td><td style="width: 0.5in">-</td><td>Fair value hedges when hedging the exposure to changes in the fair value of a recognized asset or liability or an unrecognized firm commitment.</td></tr></table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 2in"></td><td style="width: 0.5in">-</td><td>Cash flow hedges when hedging the exposure to variability in cash flows that is either attributable to a particular risk associated with a recognized asset or liability or a highly probable forecast transaction or the foreign currency risk in an unrecognized firm commitment.</td></tr></table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 2in"></td><td style="width: 0.5in">-</td><td>Hedges of a net investment in a foreign operation.</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">At the inception of a hedge relationship, the Group formally designates and documents the hedge relationship to which the Group wishes to apply hedge accounting and the risk management objective and strategy for undertaking the hedge.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">The documentation includes identification of the hedging instrument, the hedged item or transaction, the nature of the risk being hedged and how the Group will assess the effectiveness of changes in the hedging instrument&#x2019;s fair value in offsetting the exposure to changes in the hedged item&#x2019;s fair value or cash flows attributable to the hedged risk. Such hedges expect to be highly effective in achieving offsetting changes in fair value or cash flows and are assessed on an ongoing basis to determine that they actually have been highly effective throughout the financial reporting periods for which they were designated.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">A hedging relationship qualifies for hedge accounting if it meets all of the following effectiveness requirements:</p><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 2in"></td><td style="width: 0.5in">-</td><td>There is &#x2018;an economic relationship&#x2019; between the hedged item and the hedging instrument.</td></tr></table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 2in"></td><td style="width: 0.5in">-</td><td>The effect of credit risk does not &#x2018;dominate the value changes&#x2019; that result from that economic relationship.</td></tr></table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 2in"></td><td style="width: 0.5in">-</td><td>The hedge ratio of the hedging relationship is the same as that resulting from the quantity of the hedged item that the Group actually hedges and the quantity of the hedging instrument that the Group actually uses to hedge that quantity of hedged item.</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">Hedges that meet all the qualifying criteria for hedge accounting are recorded as cash flow hedges.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">Cash flow hedges</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-indent: 0in">In case the cross currency swaps contracts are designated as hedging instrument, any gains or losses arising from changes in the fair value of derivatives is taken directly to profit or loss, except for the effective portion of cash flow hedges, which is recognized in OCI and later reclassified to profit or loss when the hedge item affects profit or loss.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">For any other cash flow hedges, the amount accumulated in OCI is reclassified to profit or loss as a reclassification adjustment in the same period or periods during which the hedged cash flows affect profit or loss.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-align: left">In addition, we have cash flow hedges for trading, its changes in fair value are recorded directly in profit or loss.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">In the case that the cash flow hedge is discontinued, the amount accumulated in other comprehensive income must remain in other comprehensive income accumulated if the covered cash flows are still expected to occur. Otherwise, the amount will be immediately reclassified to profit or loss as a reclassification adjustment. After discontinuation, once the covered cash flows are given, any amount that remains in other comprehensive accumulated results must be recorded considering the nature of the underlying transaction.&#xa0;</p><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1.5in"></td><td style="width: 0.5in">(vi)</td><td>Fair value measurement</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">The Group measures financial instruments such as derivatives, and equity investment, at fair value at each balance sheet date.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either:</p><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 2in"></td><td style="width: 0.5in">-</td><td>In the principal market for the asset or liability, or</td></tr></table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 2in"></td><td style="width: 0.5in">-</td><td>In the absence of a principal market, in the most advantageous market for the asset or liability.</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">The principal or the most advantageous market must be accessible by the Group.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability, assuming that market participants act in their economic best interest.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-indent: 0in">A fair value measurement of a non-financial asset considers a market participant&#x2019;s ability to generate economic benefits by using the asset in its highest and best use or by selling it to another market participant that would use the asset in its highest and best use.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">The Group uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized within the fair value accounting hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole:</p><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 2in"></td><td style="width: 0.5in">-</td><td>Level 1 &#x2013; Quoted (unadjusted) market prices in active markets for identical assets or liabilities</td></tr></table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 2in"></td><td style="width: 0.5in">-</td><td>Level 2 &#x2013; Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observable</td></tr></table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 2in"></td><td style="width: 0.5in">-</td><td>Level 3 &#x2013; Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">For assets and liabilities that are recognized in the financial statements at fair value on a recurring basis, the Group determines whether transfers have occurred between levels in the hierarchy by re-assessing categorization (based on the lowest level input that is significant to the fair value measurement as a whole) at the end of each reporting period.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">The Group&#x2019;s management determines the policies and procedures for recurring and non-recurring fair value measurements.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 144pt">At each reporting date, the Management of the Company analyzes the changes in the values &#x200b;&#x200b;of the assets and liabilities that must be measured or determined on a recurring and non-recurring basis according to the Group&#x2019;s accounting policies. For this analysis, Management contrasts the main variables used in the latest assessments made with updated information available from valuations included in contracts and other relevant documents.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">Management also compares the changes in the fair value of each asset and liability with the relevant external sources to determine whether the change is reasonable.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0in">For purposes of disclosure of fair value, the Group has determined classes of assets and liabilities based on the inherent nature, characteristics and risks of each asset and liability, and the level of the fair value accounting hierarchy as explained above.</p> <table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"><td style="width: 0.5in">2.3.3</td><td>Foreign currencies -</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 108pt">The functional and presentation currency for the consolidated financial statements of the Group is soles, which is also the functional currency for its subsidiaries.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in"><i>Transactions and balances</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Transactions in foreign currencies are initially recorded at their respective functional currency spot rates at the date the transaction first qualifies for recognition.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Monetary assets and liabilities denominated in foreign currencies are translated at the functional currency spot rates of exchange at the reporting date. Differences arising on settlement or translation of monetary items are recognized in profit or loss.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Non-monetary items that are measured in terms of historical cost in a foreign currency are translated using the exchange rates at the dates of the initial transactions.</p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"><td style="width: 0.5in">2.3.4</td><td>Inventories -</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Inventories are valued at the lower of cost and net realizable value. Costs incurred in bringing each product to its present location and conditions are accounted for as follows:</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in"><i>Raw materials</i></p><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1.5in"></td><td style="width: 0.5in"><font style="font-family: Times New Roman, Times, Serif"><b>-</b></font></td><td>Purchase cost determined using the weighted average method.</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in"><i>Finished goods and work in progress</i></p><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1.5in"></td><td style="width: 0.5in"><font style="font-family: Times New Roman, Times, Serif"><b>-</b></font></td><td>Cost of direct materials and supplies, services provided by third parties, direct labor and a proportion of manufacturing overheads based on normal operating capacity, excluding borrowing costs and exchange currency differences.</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in"><i>Inventory in transit</i></p><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1.5in"></td><td style="width: 0.5in"><font style="font-family: Times New Roman, Times, Serif"><b>-</b></font></td><td>Purchase cost.</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Net realizable value is the estimated selling price in the ordinary course of business, less estimated cost of completion and the estimated costs necessary to make the sale.</p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"><td style="width: 0.5in">2.3.5</td><td>Borrowing costs -</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Borrowing costs directly attributable to the acquisition, construction or production of an asset that necessarily takes a substantial period of time to get ready for its intended use or sale are capitalized as part of the cost of the respective asset. All other borrowing costs are expensed in the period in which they occur. Borrowing costs consist of interest and other costs that an entity incurs in connection with the borrowing of funds.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Where the funds used to finance a project form part of general borrowings, the amount capitalized is calculated using a weighted average of rates applicable to relevant general borrowings of the Group during the period. All other borrowing costs are recognized in the consolidated statement of profit or loss in the period in which they are incurred.</p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"><td style="width: 0.5in">2.3.6</td><td>Leases -</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">The Group applied IFRS 16 for the first time on January 1, 2019, using the modified retroactive transition method, see effects of adoption in note 2.3.19. Under IFRS 16, the Group assesses at contract inception whether a contract is, or contains, a lease. That is, if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Group as a lessee:</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">The Group applies a single recognition and measurement approach for all leases, except for short-term leases and leases of low-value assets. The Group recognizes lease liabilities to make lease payments and right-of-use assets representing the right to use the underlying assets.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">i) Right of use assets</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">The Group recognizes right-of-use assets at the commencement date of the lease (the date the underlying asset is available for use). Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any remeasurement of lease liabilities. The cost of right-of-use assets includes the amount of lease liabilities recognized, initial direct costs incurred, and lease payments made at or before the commencement date less any lease incentives received. Right-of-use assets are depreciated on a straight-line basis over the shorter of the lease term and the estimated useful lives of the assets. If ownership of the leased asset transfers to the Group at the end of the lease term or the cost reflects the exercise of a purchase option, depreciation is calculated using the estimated useful life of the asset.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">The right-of-use assets are subject to impairment assessment if indications of impairment are presented.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">ii) Lease liabilities</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">At the commencement date of the lease, the Group recognizes lease liabilities measured at the present value of lease payments to be made over the lease term. The lease payments include fixed payments (including in substance fixed payments) less any lease incentives receivable, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value guarantees. Variable lease payments that do not depend on an index or a rate are recognized as expenses in the period in which the event or condition that triggers the payment occurs.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">In calculating the present value of lease payments, the Group uses its incremental borrowing rate at the lease commencement date because the interest rate implicit in the lease is not readily determinable. After the commencement date, the amount of lease liabilities is increased to reflect the accretion of interest and reduced for the lease payments made. In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the lease term, a change in the assessment of an option to purchase the underlying asset, a change in the amounts expected to be paid under residual value guarantee or changes to future payments resulting from a change in an index or rate used to determine such lease payments.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">The Group&#x2019;s lease liabilities are included in &#x201c;lease liabilities&#x201d; in the consolidated statement of financial position.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">iii) Short-term leases and leases of low-value assets</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">The Group applies the short-term lease recognition exemption to its short-term leases of machinery and equipment (i.e., those leases that have a lease term of 12 months or less from the commencement date and do not contain a purchase option). It also applies the lease of low-value assets recognition exemption to leases of office equipment that are considered to be low value.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in"><i>Group as a lessor:</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Leases in which the Group does not transfer substantially all the risks and rewards of ownership of an asset are classified as operating leases. Rental income arising is accounted for on a straight-line basis over the lease terms and is included in other income in the statement of profit or loss due to its operating nature. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognized over the lease term on the same basis as rental income. Contingent rents are recognized as revenue in the period in which they are earned.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">During 2017 and 2018, the Group applied previous lease standard (IAS17), the main difference is that under this standard, payments for operating expenses in the consolidated statement of profit or loss on a lineal amortization basis throughout the lease period. The criteria for accounting for financial leases and income for leases when the Group acts as lessor were similar to those established in IFRS 16.</p> <table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"><td style="width: 0.5in">2.3.7</td><td>Property, plant and equipment -</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Property, plant and equipment is stated at cost, net of accumulated depreciation and/or accumulated impairment losses, if any. Such cost includes the cost of replacing component parts of the property, plant and equipment and borrowing costs for long-term construction projects if the recognition criteria are met (see note 2.3.6). The capitalized value of a finance lease is also included within property, plant and equipment. When significant parts of plant and equipment are required to be replaced at intervals, the Group recognizes such parts as individual assets with specific useful lives and depreciated them separately based on their specific useful lives. Likewise, when major inspection is performed, its cost is recognized in the carrying amount of the plant and equipment as a replacement if the recognition criteria are satisfied. All other repair and maintenance costs are recognized in profit or loss as incurred.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 108pt">The present value of the expected cost for the decommissioning of an asset after its use is included in the cost of the respective asset if the recognition criteria for a provision are met. Reference is made to significant accounting judgments, estimates and assumptions (note 3) and decommissioning provisions (note 14).</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Depreciation of assets is determined using the straight-line method over the estimated useful lives of such assets as follows:</p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: center">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Years</td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Buildings and other constructions:</td><td>&#xa0;</td> <td style="text-align: center">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Administrative facilities</td><td>&#xa0;</td> <td style="text-align: center">Between 35 and 48</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Main production structures</td><td>&#xa0;</td> <td style="text-align: center">Between 30 and 49</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Minor production structures</td><td>&#xa0;</td> <td style="text-align: center">Between 20 and 35</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left">Machinery and equipment:</td><td>&#xa0;</td> <td style="text-align: center">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Mills and horizontal furnaces</td><td>&#xa0;</td> <td style="text-align: center">Between 42 and 49</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Vertical furnaces, crushers and grinders</td><td>&#xa0;</td> <td style="text-align: center">Between 23 and 36</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Electricity facilities and other minors</td><td>&#xa0;</td> <td style="text-align: center">Between 12 and 35</td></tr> <tr style="vertical-align: bottom; "> <td style="width: 79%; font-weight: bold; text-align: left">Furniture and fixtures</td><td style="width: 1%">&#xa0;</td> <td style="width: 20%; text-align: center">10</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Transportation units:</td><td>&#xa0;</td> <td style="text-align: center">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Heavy units</td><td>&#xa0;</td> <td style="text-align: center">Between 11 and 21</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Light units</td><td>&#xa0;</td> <td style="text-align: center">Between 8 and 11</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left">Computer equipment</td><td>&#xa0;</td> <td style="text-align: center">4</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Tools</td><td>&#xa0;</td> <td style="text-align: center">Between 5 and 10</td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: 0in">The asset&#x2019;s residual value, useful lives and methods of depreciation are reviewed at each reporting period and adjusted prospectively if appropriate.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">An item of property, plant and equipment and any significant part initially recognized is derecognized upon disposal or when no future economic benefits are expected from its use or disposal. Any gain or loss arising on derecognition of the asset (calculated as the difference between the net disposal proceeds and the carrying amount of the asset) is included in the consolidated statement of profit or loss when the asset is derecognized.</p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top"><td style="width: 0.5in; text-align: left">2.3.8</td><td>Mining concessions -</td> </tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 108pt">Mining concessions correspond to the exploration rights in areas of interest acquired. Mining concessions are stated at cost, net of accumulated amortization and/or accumulated impairment losses, if any, and are presented within &#x201c;Property, plant and equipment&#x201d; on the consolidated statement of financial position. Those mining concessions are amortized starting from the production phase following the units-of-production method based on proved reserves to which they relate. The unit-of-production rate for the amortization of mining concessions considers expenditures incurred to the date of the calculation. If the Group abandons the concession, the costs associated are written-off in the consolidated statement of profit or loss.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 108pt">As of December 31, 2019 and 2018, mining concessions of the Group corresponded to areas that contain raw material necessary for cement production.</p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top"><td style="width: 0.5in">2.3.9</td><td>Quarry development costs and stripping costs -</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in"><i>Quarry development costs -</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Quarry development costs incurred are stated at cost and are the next step in development of quarries after exploration and evaluation stage. Quarry development costs are, upon commencement of the production phase, presented net of accumulated amortization and/or accumulated impairment losses, if any, and are presented within the property, plant and equipment caption. The amortization is calculated using the straight-line method based on useful live of the quarry to which relate. Expenditures that increase significantly the economic life of the quarry under exploitation are capitalized.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in"><i>Stripping costs -</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Stripping costs incurred in the development of a mine before production commences are capitalized as part of mine development costs and subsequently amortized it&#x2019;s the life on a units-of-production basis, using the proved reserves.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Stripping costs incurred subsequently during the production phase of its operation are recorded as part of cost of production.</p> <table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"><td style="width: 0.5in">2.3.10</td><td style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Intangible assets</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Intangible assets acquired separately are measured on initial recognition at cost. The cost of intangible assets acquired in a business combination is their fair value at the date of acquisition. Following initial recognition, intangible assets are carried at cost less any accumulated amortization and accumulated impairment losses. Internally generated intangibles, excluding capitalized development costs, are not capitalized and the related expenditure is reflected in profit or loss in the period in which the expenditure is incurred.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">The useful lives of intangible assets are assessed as either finite or indefinite.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: 0in">Intangible assets with finite live are amortized over the useful economic life and assessed for impairment whenever there is an indication that the intangible asset may be impaired. The amortization period and the amortization method for an intangible asset with a finite useful life are reviewed at least at the end of each reporting period. Changes in the expected useful life or the expected pattern of consumption of future economic benefits embodied in the asset are considered to modify the amortization period or method, as appropriate, and are treated as changes in accounting estimates. The amortization expense on intangible assets with finite lives is recognized in the statement of profit or loss in the expense category that is consistent with the function of the intangible assets.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">The Group&#x2019;s intangible assets with finite useful lives are amortized in an average term of ten years.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 108pt">Intangible assets with indefinite useful lives are not amortized, but are tested for impairment annually, either individually or at the cash-generating unit level. The assessment of indefinite life is reviewed annually to determine whether the indefinite life continues to be supportable. If not, the change in useful life from indefinite to finite is made on a prospective basis. As of December 31, 2019 and 2018, the Company maintained as intangible assets with an indefinite useful the fair value of the brand acquired in the transaction described in note 1.1.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Any gain or loss arising upon derecognition of the asset (calculated as the difference between the net disposal proceeds and the carrying amount of the asset) is included in the statement of profit or loss.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Exploration and evaluation assets -</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Exploration and evaluation activity involves the search for mineral resources, the determination of technical feasibility and the assessment of commercial viability of an identified resource. Exploration and evaluation activity includes:</p><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1.5in"></td><td style="width: 28.35pt">-</td><td>Researching and analyzing historical exploration data.</td></tr></table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1.5in"></td><td style="width: 28.35pt">-</td><td>Gathering exploration data through geophysical studies.</td></tr></table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1.5in"></td><td style="width: 28.35pt">-</td><td>Exploratory drilling and sampling.</td></tr></table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1.5in"></td><td style="width: 28.35pt">-</td><td>Determining and examining the volume and grade of the resource.</td></tr></table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1.5in"></td><td style="width: 28.35pt">-</td><td>Surveying transportation and infrastructure requirements.</td></tr></table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1.5in"></td><td style="width: 28.35pt">-</td><td>Conducting market and finance studies.</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">License costs paid in connection with a right to explore in an existing exploration area are capitalized and amortized over the term of the license.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Once the legal right to explore has been acquired, exploration and evaluation costs are charged to the consolidated statement of profit or loss, unless management concludes that a future economic benefit is more likely than not to be realized, in which case such costs are capitalized. These costs include directly attributable employee remuneration, materials and fuel used, surveying costs, drilling costs and payments made to contractors.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">In evaluating if costs meet the criteria to be capitalized, several different sources of information are used, including the nature of the assets, extension of the explored area and results of sampling, among others. The information that is used to determine the probability of future benefits depends on the extent of exploration and evaluation that has been performed.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Exploration and evaluation costs are capitalized when the exploration and evaluation activity is within an area of interest for which it is expected that the costs will be recouped by future exploitation and active and significant operations in relation to the area are continuing or planned for the future.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">The main estimates and assumptions the Group uses to determine whether is likely that future exploitation will result in future economic benefits include: expected operational costs, committed capital expenditures, expected mineral prices and mineral resources found. For this purpose, the future economic benefit of the project can reasonably be regarded as assured when mine-site exploration is being conducted to confirm resources, mine-site exploration is being conducted to convert resources to reserves or when the Group is conducting a feasibility study, based on supporting geological information.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">As the capitalized exploration and evaluation costs asset is not available for use, it is not amortized. These exploration costs are transferred to mine development assets once the work completed to date supports the future development of the property and such development receives appropriate approvals. In this phase, the exploration costs are amortized in accordance with the estimated useful life of the mining property from the time the commercial exploitation of the reserves begins. All capitalized exploration and evaluation costs are monitored for indications of impairment. Where a potential impairment is indicated, assessment is performed for each area of interest in conjunction with the group of operating assets (representing a cash generating unit) to which the exploration is attributed.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Exploration areas in which resources have been discovered but require major capital expenditure before production can begin, are continually evaluated to ensure that commercial quantities of resources exist or to ensure that additional exploration work are under way or planned. To the extent that capitalized expenditure is no longer expected to be recovered it is charged to the consolidated statement of profit or loss. The Group assesses at each reporting date whether there is an indication that an exploration and evaluation assets may be impaired. The following facts and circumstances are considered in this assessment:</p><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1.5in"></td><td style="width: 0.5in">(i)</td><td>the period for which the entity has the right to explore in the specific area has expired during the period or will expire in the near future and is not expected to be renewed.</td></tr></table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1.5in"></td><td style="width: 0.5in">(ii)</td><td>substantive expenditure on further exploration for and evaluation of mineral resources in the specific area is neither budgeted nor planned.</td></tr></table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1.5in"></td><td style="width: 0.5in">(iii)</td><td>exploration for and evaluation of mineral resources in the specific area have not led to the discovery of commercially viable quantities of mineral resources and the entity has decided to discontinue such activities in the specific area.</td></tr></table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1.5in"></td><td style="width: 0.5in">(iv)</td><td>sufficient data exist to indicate that, although a development in the specific area is likely to proceed, the carrying amount of the exploration and evaluation asset is unlikely to be recovered in full from successful development or by sale.</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"><td style="width: 0.5in">2.3.11</td><td>Ore reserve and resource estimates -</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Ore reserves are estimates of the amount of ore that can be economically and legally extracted from the Group&#x2019;s mining properties and concessions. The Group estimates its ore reserves and mineral resources, based on information compiled by appropriately qualified persons relating to the geological data on the size, depth and shape of the ore body, and requires complex geological judgments to interpret the data. The estimation of recoverable reserves is based upon factors such as estimates of foreign exchange rates, commodity prices, future capital requirements, and production costs, along with geological assumptions and judgments made in estimating the size and grade of the ore body. Changes in the reserve or resource estimates may impact upon the carrying value of exploration and evaluation assets, provision for rehabilitation and depreciation and amortization charges.</p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"><td style="width: 0.5in">2.3.12</td><td>Impairment of non-financial assets &#x2013;</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">The Group assesses, at each reporting date, whether there is an indication that an asset may be impaired. If any indication exists, or when annual impairment testing for an asset is required (goodwill and Intangible assets with indefinite useful lives), the Group estimates the asset&#x2019;s recoverable amount. An asset&#x2019;s recoverable amount is the higher of an asset&#x2019;s or cash-generating unit&#x2019;s (CGU) fair value less costs of disposal and its value in use and is determined for an individual asset, unless the asset does not generate cash inflows that are largely independent of those from other assets or groups of assets. Where the carrying amount of an asset of CGU exceeds its recoverable amount, the asset is considered impaired and is written down to its recoverable amount.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. In determining fair value less costs of disposal, recent market transactions are considered. If no such transactions can be identified, an appropriate valuation model is used. These calculations are corroborated by valuation multiples, quoted share prices for publicly traded companies or other available fair value indicators.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 108pt">The Group supports its impairment calculation with detailed budgets and forecast calculations, which are prepared separately for each of the Group&#xb4;s CGUs to which the individual assets are allocated.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Impairment losses of continuing operations, including impairment on inventories, are recognized in the consolidated statement of profit or loss in expense categories consistent with the function of the impaired asset.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">In addition, an assessment is made at each reporting date to determine whether there is any indication that previously recognized impairment losses may no longer exist or have decreased. If such indication exists, the Group estimates the asset&#x2019;s or CGU&#x2019;s recoverable amount. A previously recognized impairment loss is reversed only if there has been a change in the assumptions used to determine the asset&#x2019;s recoverable amount since the last impairment loss was recognized. The reversal is limited so that the carrying amount of the asset does not exceed its recoverable amount, nor exceed the carrying amount that would have been determined, net of depreciation, had no impairment loss been recognized for the asset in prior years. Such reversal is recognized in the consolidated statement of profit or loss.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Exploration and evaluation assets are tested for impairment annually as of December 31, either individually or at the cash-generating unit level, as appropriate, and when circumstances indicate that the carrying value may be impaired.</p> <table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"><td style="width: 0.5in">2.3.13</td><td>Provisions -</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in"><i>General -</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Provisions are recognized when the Group has a present obligation (legal or constructive) as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. When the Group expects some or all of a provision to be reimbursed, for example under an insurance contract, the reimbursement is recognized as a separate asset but only when the reimbursement is virtually certain. The expense relating to any provision is presented in profit or loss net of any reimbursement.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate that reflects where appropriate, the risks specific to the liability. When discounting is used, the increase in the provision due to the passage of time is recognized as finance cost in the consolidated statement of profit or loss.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in"><i>Rehabilitation provision -</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">The Group records the present value of estimated costs of legal and constructive obligations required to restore operating locations in the period in which the obligation is incurred. Rehabilitation costs are provided at the present value of expected costs to settle the obligation using estimated cash flows and are recognized as part of the cost of that particular asset. The cash flows are discounted at a current risk-free pre-tax rate. The unwinding of the discount is expensed as incurred and recognized in the consolidated statement of profit or loss as a finance cost. The estimated future costs of rehabilitation are reviewed annually and adjusted as appropriate. Changes in the estimated future costs or in the discount rate applied are added to or deducted from the cost of the asset.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in"><i>Environmental expenditures and liabilities -</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in">Environmental expenditures that relate to current or future revenues are expensed or capitalized as appropriate. Expenditures that relate to an existing condition caused by past operations and do not contribute to current or future earnings are expensed.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in">Liabilities for environmental costs are recognized when a clean-up is probable, and the associated costs can be reliably estimated. Generally, the timing of recognition of these provisions coincides with the commitment to a formal plan of action or, if earlier, on divestment or on closure of inactive sites.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in">The amount recognized is the best estimate of the expenditure required. Where the liability will not be settled for a number of years, the amount recognized is the present value of the estimated future expenditure.</p> <table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"><td style="width: 0.5in">2.3.14</td><td>Employees benefits -</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">The Group has short-term obligations for employee benefits including salaries, severance contributions, legal bonuses, performance bonuses and profit sharing. These obligations are monthly recorded on an accrual basis.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Additionally, the Group has a long-term incentive plan for key management. This benefit is settled in cash, measured on the salary of each officer and upon fulfilling certain conditions such as years of experience within the Group and permanency. According to IAS 19 &#x201c;Employee benefits&#x201d;, the Group recognizes the long-term obligation at its present value at the end of the reporting period using the projected credit unit method. To calculate the present value of these long-term obligations the Group uses a government bond discount rate at the date of the consolidated financial statements. This liability is annually reviewed on the date of the consolidated financial statements, and the accrual updates and the effect of changes in discount rates are recognized in the consolidated statement of profit or loss, until the liability is extinguished.</p> <table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"><td style="width: 0.5in">2.3.15</td><td>Revenue recognition -</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">The group is dedicated to the production and trading of cement, precast, concrete and quicklime, as well as trade of construction supplies. These goods are sold in contracts with customers. The Group has concluded that it is principal in its sales agreements because it controls the goods or services before transferring to the customer.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Revenue is measured at the fair value of the consideration received or receivable, considering contractually defined terms of payment and excluding taxes or duty.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">The following specific recognition criteria must also be met before revenue is recognized:</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in"><i>Sales of goods -</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Revenue from sale of goods is recognized at the point in time when control of the asset is transferred to the customer, generally on delivery of the goods.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">The Group considers whether there are other promises in the contract that are separate performance obligations to which a portion of the transaction price needs to be allocated. In determining the transaction price for the sale of goods, the Group considers the effects of variable consideration, the existence of significant financing components, noncash consideration, and consideration payable to the customer (if any).</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Rendering of services -</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">In the business segments of cement, quicklime, concrete, precast and construction supplies, the Group provides transportation services. These services are sold together with the sale of the goods to the customer.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Transportation services are satisfied when the transport service is concluded, which coincides with the moment of delivery of the goods to the customers.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in"><i>Operating lease income -</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Income from operating lease of land and office was recognized on a monthly accrual basis during the term of the lease.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in"><i>Interest income -</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">For all financial instruments measured at amortized cost and interest-bearing financial assets, interest income is recorded using the effective interest rate (EIR). EIR is the rate that exactly discounts the estimated future cash payments or receipts over the expected life of the financial instrument or a shorter period, where appropriate, to the net carrying amount of the financial asset or liability. Interest income is included in finance income in the consolidated statement of profit or loss.</p> <table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"><td style="width: 0.5in">2.3.16</td><td>Taxes -</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in"><i>Current income tax -</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Current income tax assets and liabilities are measured at the amount expected to be recovered from or paid to the tax authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted, at the reporting date in Peru, where the Group operates and generates taxable income.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Current income tax relating to items recognized directly in equity is recognized in equity and not in the consolidated statement of profit or loss. Management periodically evaluates positions taken in the tax returns with respect to situations in which applicable tax regulations are subject to interpretation and establishes provisions where appropriate.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in"><i>Deferred tax -</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Deferred tax is provided using the liability method on temporary differences between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes at the reporting date.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Deferred tax liabilities are recognized for all taxable temporary differences, except in respect of taxable temporary differences associated with investments in subsidiaries, associates and interests in joint arrangements, when the timing of the reversal of the temporary differences can be controlled and it is probable that the temporary differences will not reverse in the foreseeable future.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Deferred tax assets are recognized for all deductible temporary differences, the carry forward of unused tax credits and unused tax losses. Deferred tax assets are recognized to the extent that it is probable that taxable profit will be available against which the deductible temporary differences, and the carry forward of unused tax credits and unused tax losses can be utilized, except in respect of deductible temporary differences associated with investments in subsidiaries, where deferred assets are recognized only to the extent that it is probable that the temporary differences will reverse in the foreseeable future and taxable profit will be available against which the temporary differences can be utilized.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilized. Unrecognized deferred tax assets are re-assessed at each reporting date and are recognized to the extent that it has become probable that future taxable profits will allow the deferred tax asset to be recovered.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the asset is realized, or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the reporting date.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Deferred tax related to items recognized outside profit or loss is recognize outside profit or loss. Deferred tax items are recognized in correlation to the underlying transaction either in OCI or directly in equity.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right exists to set off current tax assets against current income tax liabilities and the deferred taxes relate to the same taxable entity and the same taxation authority.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in"><i>Mining royalties -</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Mining royalties are accounted for under IAS 12 when they have the characteristics of an income tax. This is considered to be the case when they are imposed under government authority and the amount payable is based on taxable net income, rather than based on quantity produced or as a percentage of revenue, after adjustment for temporary differences. For such arrangements, current and deferred tax is provided on the same basis as described above for income tax. Obligations arising from royalty arrangements that do not satisfy these criteria are recognized as current provisions and included in results of the year.</p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"><td style="width: 0.5in">2.3.17</td><td>Investment shares holds in treasury -</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Owned equity instruments which are reacquired (treasury shares) are recognized at cost and deducted from equity. No gain or loss is recognized in the consolidated statement of profit or loss on the purchase, sale, issue or cancellation of the Group&#x2019;s own equity instruments.</p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"><td style="width: 0.5in">2.3.18</td><td>Business combinations and goodwill -</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">A&#xa0;business&#xa0;consists of inputs and processes applied to those inputs that have the ability to create contribute to the creation of outputs. Business combinations are accounted for using the acquisition method. The cost of an acquisition is measured as the aggregate of the consideration transferred, which is measured at acquisition date fair value, and the amount of any non-controlling interests in the acquiree. For each business combination, the Group elects whether to measure the non-controlling interests in the acquiree at fair value or at the proportionate share of the acquiree&#x2019;s identifiable net assets. Acquisition-related costs are expensed as incurred and included in administrative expenses of the consolidated statement of profit or loss.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">When the Group acquires a business, it assesses the financial assets and liabilities assumed for appropriate classification and designation in accordance with the contractual terms, economic circumstances and pertinent conditions as at the acquisition date.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Any contingent consideration to be transferred by the acquirer will be recognized at fair value at the acquisition date. Contingent consideration classified as equity is not remeasured and its subsequent settlement is accounted for within equity. Contingent consideration classified as an asset or liability that is a financial instrument and within the scope of IFRS 9 Financial Instruments, is measured at fair value with the changes in fair value recognized in the statement of profit or loss in accordance with IFRS 9. Other contingent consideration that is not within the scope of IFRS 9 is measured at fair value at each reporting date with changes in fair value recognized in profit or loss.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Goodwill</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: 0in">Goodwill is the excess of the aggregate of the consideration transferred on the asset&#x2019;s acquisitions described in note 1.1, over the fair value of the acquire assets.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Goodwill is initially measured at cost (being the excess of the aggregate of the consideration transferred and the amount recognized for non-controlling interests and any previous interest held over the net identifiable assets acquired and liabilities assumed). If the reassessment still results in an excess of the fair value of net assets acquired over the aggregate consideration transferred, then the gain is recognized in profit or loss.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">After initial recognition, goodwill is measured at cost less any accumulated impairment losses. For the purpose of impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated to each of the Group&#x2019;s cash-generating units that are expected to benefit from the combination, irrespective of whether other assets or liabilities of the acquiree are assigned to those units.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">The Group perform impairment tests of the goodwill annually. The impairment of the goodwill is determined estimating the recoverable amount of the cash generating units related to it. When the recoverable amount of the cash generating units is lower than the carrying value, an impairment is recognized. Impairment related to goodwill cannot be reversed in future periods.</p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"><td style="width: 0.5in">2.3.19</td><td>New amended standards and interpretations &#x2013;</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0pt">IFRS 16 Leases</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in">The Group applied IFRS 16 for the first time on January 1, 2019 through the modified retroactive transition method, the criteria for the recognition of asset for use rights and liabilities for leases are those described in note 2.3.6.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in">The weighted average lessee&#x2019;s incremental borrowing rate applied to the lease liabilities on January 1, 2019 was 6.23 percent per year in soles.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in">The change in the accounting policy affected the following items of the interim condensed consolidated statement of financial position:</p><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1.5in"></td><td style="width: 0.5in">-</td><td>Increase in right-of-use assets (&#x201c;Other assets&#x201d; caption) by S/124,000.</td></tr></table><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1.5in"></td><td style="width: 0.5in">-</td><td>Increase in lease liabilities by S/137,000.</td></tr></table><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1.5in"></td><td style="width: 0.5in">-</td><td>Reduction of accumulated results in equity by S/13,000.</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in">Several other amendments and interpretations, including IFRIC 23 &#x201c;Uncertainty over Income Tax Treatments&#x201d; apply for the first time as of January 1, 2019, but do not have an impact on the consolidated financial statements of the Group.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in">The Group has not adopted early any standard, interpretation or modification that has been issued but is not yet in force</p> 0.0623 124000 137000 13000 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: center">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Years</td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Buildings and other constructions:</td><td>&#xa0;</td> <td style="text-align: center">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Administrative facilities</td><td>&#xa0;</td> <td style="text-align: center">Between 35 and 48</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Main production structures</td><td>&#xa0;</td> <td style="text-align: center">Between 30 and 49</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Minor production structures</td><td>&#xa0;</td> <td style="text-align: center">Between 20 and 35</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left">Machinery and equipment:</td><td>&#xa0;</td> <td style="text-align: center">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Mills and horizontal furnaces</td><td>&#xa0;</td> <td style="text-align: center">Between 42 and 49</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Vertical furnaces, crushers and grinders</td><td>&#xa0;</td> <td style="text-align: center">Between 23 and 36</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Electricity facilities and other minors</td><td>&#xa0;</td> <td style="text-align: center">Between 12 and 35</td></tr> <tr style="vertical-align: bottom; "> <td style="width: 79%; font-weight: bold; text-align: left">Furniture and fixtures</td><td style="width: 1%">&#xa0;</td> <td style="width: 20%; text-align: center">10</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Transportation units:</td><td>&#xa0;</td> <td style="text-align: center">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Heavy units</td><td>&#xa0;</td> <td style="text-align: center">Between 11 and 21</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Light units</td><td>&#xa0;</td> <td style="text-align: center">Between 8 and 11</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left">Computer equipment</td><td>&#xa0;</td> <td style="text-align: center">4</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Tools</td><td>&#xa0;</td> <td style="text-align: center">Between 5 and 10</td></tr> </table> Between 35 and 48 Between 30 and 49 Between 20 and 35 Between 42 and 49 Between 23 and 36 Between 12 and 35 10 Between 11 and 21 Between 8 and 11 4 Between 5 and 10 <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.5in; text-align: left">3.</td><td>Significant accounting judgments, estimates and assumptions</td> </tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0pt"><font style="font-weight: normal">The preparation of the Group&#x2019;s consolidated financial statements requires management to make judgments, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, and the accompanying disclosures. Uncertainty about these assumptions and estimates could result in outcomes that require a material adjustment to the carrying amount of assets or liabilities affected in future periods. </font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0in"><font style="font-weight: normal">Other disclosures relating to the Group&#x2019;s exposure to risks and uncertainties includes:</font></p><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in"><font style="font-family: Times New Roman, Times, Serif"><b>-</b></font></td><td>Capital management, note 29.</td></tr></table><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in"><font style="font-family: Times New Roman, Times, Serif"><b>-</b></font></td><td>Financial instruments risk management and policies, note 29.</td></tr></table><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in"><font style="font-family: Times New Roman, Times, Serif"><b>-</b></font></td><td>Sensitivity analyses disclosures, note 29.</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0in"><font style="font-weight: normal"><i>Estimates and assumptions -</i></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0pt"><font style="font-weight: normal">The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are described below. The Group based its assumptions and estimates on parameters available when the consolidated financial statements were prepared. Existing circumstances and assumptions about future developments, however, may change due to market changes or circumstances arising beyond the control of the Group. Such changes are reflected in the assumptions when they occur. </font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0in"><font style="font-weight: normal">The significant areas are summarized below:</font></p><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in">-</td><td>Determination of useful lives of assets for depreciation and amortization purposes &#x2013; notes 2.3.7, 2.3.8, 2.3.9 and 2.3.10.</td></tr></table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in">-</td><td>Recognition of exploration and evaluation assets and mine development costs &#x2013; notes 2.3.9, 2.3.10 and note 11.</td></tr></table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in">-</td><td>Ore reserve and resource estimates &#x2013; note 2.3.11.</td></tr></table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in">-</td><td>Review of asset carrying values and impairment charges &#x2013; notes 2.3.2, 2.3.12, 10 and 11.</td></tr></table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in"><font style="font-weight: normal">-</font></td><td><font style="font-weight: normal">Income tax &#x2013; notes 2.3.16 and 16.</font></td></tr></table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in"><font style="font-weight: normal">-</font></td><td><font style="font-weight: normal">Cash flow hedges &#x2013; notes 2.3.2(v) and 30(b).</font></td></tr></table><br/> <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.5in; text-align: left">4.</td><td>Standards issued but not yet effective</td> </tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0in"><font style="font-weight: normal">The standards and interpretations relevant to the Group, that are issued, but not yet effective, up to the date of issuance of the financial statements are disclosed below. The Group intends to adopt these standards, if applicable, when they become effective:</font></p><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in"><b>-</b></td><td><i>Amendments to IAS 1 and IAS 8: Definition of Material</i></td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">In October 2018, the IASB issued amendments to IAS 1 Presentation of Financial Statements and IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors to align the definition of &#x2018;material&#x2019; across the standards and to clarify certain aspects of the definition. The new definition states that, &#x2018;Information is material if omitting, misstating or obscuring it could reasonably be expected to influence decisions that the primary users of general purpose financial statements make on the basis of those financial statements, which provide financial information about a specific reporting entity&#x2019;.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">The amendments to the definition of material is not expected to have a significant impact on the Group&#x2019;s consolidated financial statements.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in"><i>Amendments to IFRS 3: Business definition</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">In October 2018, the IASB issued amendments to IFRS 3 &#x201c;Business combinations&#x201d; to help entities determine when a set of acquired activities and assets is a business or not. The minimum requirements for a business are clarified, the evaluation of whether a market participant is capable of replacing any missing element is eliminated, a guide is added to help entities assess whether an acquired process is significant, specifies definition of business and products and introduces an optional test of fair value concentration. New illustrative examples were provided along with the modifications.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">These modifications are applied prospectively to transactions or events that occur on or after the entry into force, the consolidated financial statements of the Group will not be affected by these modifications.</p><br/> <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.5in; text-align: left">5.</td><td>Transactions in foreign currency</td> </tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">Transactions in foreign currency take place at the open-market exchange rates published by the Superintendence of Banks, Insurance and Pension Funds Administration (the &#x201c;SBS&#x201d;). As of December 31, 2019 the exchange rates for transactions in U.S. dollars, published by the SBS, were S/3.311 for purchase and S/3.317 for sale (S/3.369 for purchase and S/3.379 for sale as of December 31, 2018).</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">As of December 31, 2019 and 2018, the Group had the following assets and liabilities in U.S. dollars:</p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: center">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center">US$(000)</td><td style="font-weight: bold">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center">US$(000)</td><td style="font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Assets</td><td>&#xa0;</td> <td colspan="2">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Cash and cash equivalents</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">993</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">4,007</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt"><font style="font-size: 10pt">Trade and other receivables</font></td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">5,741 </td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">5,135</font></td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Advances to suppliers</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,586</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,250</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; text-indent: -7.1pt; padding-left: 7.1pt">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">9,320</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">10,392</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -7.1pt; padding-left: 7.1pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-indent: -7.1pt; padding-left: 7.1pt">Liabilities</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Trade and other payables</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(5,975</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(29,618</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Interest-bearing loans and borrowings</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(157,263</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(149,612</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; text-indent: -7.1pt; padding-left: 7.1pt">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(163,238</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(179,230</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Cross currency swap position</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">150,000</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">150,000</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -7.1pt; padding-left: 7.1pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Net monetary position</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: right">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">(3,918</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: right">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">(18,838</td><td style="padding-bottom: 4pt; text-align: left">)</td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 28.35pt">As of December 31, 2019 and 2018, the Group had cross currency swap agreements for its bonds (denominated in U.S. dollars), see note 15. Of the US$150,000,000 shown in the cross currency swap position, there are underlying liabilities for US$131,612,000. The difference of US$18,388,000 is maintained as trading derivative financial instruments.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 28.35pt">During 2019, the net gain originated by the exchange difference was approximately S/729,000 (net loss from exchange difference of approximately S/8,377,000 during 2018), all these results are presented in "Gain (loss) from exchange difference, net" in the consolidated statement of profit or loss. The net loss from exchange difference for the year 2018 included a loss of S/4,293,000 originated by cash flow hedging instruments that changed to trading condition.</p><br/> the exchange rates for transactions in U.S. dollars, published by the SBS, were S/3.311 for purchase and S/3.317 for sale (S/3.369 for purchase and S/3.379 for sale as of December 31, 2018). 150000000 131612000 18388000 729000 8377000 4293000 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: center">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center">US$(000)</td><td style="font-weight: bold">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center">US$(000)</td><td style="font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Assets</td><td>&#xa0;</td> <td colspan="2">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Cash and cash equivalents</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">993</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">4,007</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt"><font style="font-size: 10pt">Trade and other receivables</font></td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">5,741 </td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">5,135</font></td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Advances to suppliers</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,586</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,250</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; text-indent: -7.1pt; padding-left: 7.1pt">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">9,320</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">10,392</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -7.1pt; padding-left: 7.1pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-indent: -7.1pt; padding-left: 7.1pt">Liabilities</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Trade and other payables</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(5,975</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(29,618</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Interest-bearing loans and borrowings</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(157,263</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(149,612</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; text-indent: -7.1pt; padding-left: 7.1pt">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(163,238</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(179,230</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Cross currency swap position</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">150,000</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">150,000</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -7.1pt; padding-left: 7.1pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Net monetary position</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: right">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">(3,918</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: right">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">(18,838</td><td style="padding-bottom: 4pt; text-align: left">)</td></tr> </table> 993000 4007000 5741000 5135000 2586000 1250000 9320000 10392000 5975000 29618000 157263000 149612000 163238000 179230000 150000000 150000000 -3918000 -18838000 <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.5in; text-align: left">6.</td><td>Cash and cash equivalents</td> </tr></table><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in">(a)</td><td><p style="margin: 0; font: 10pt Times New Roman, Times, Serif">This item comprised the following:</p> </td></tr></table><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: center">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Cash on hand</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">149</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">152</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Cash at banks (b)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">16,617</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">18,821</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; text-align: left">Short-term deposits (c)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">51,500</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">30,094</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt; text-indent: -7.1pt; padding-left: 7.1pt">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: right">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">68,266</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: right">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">49,067</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in">(b)</td><td>Cash at banks is denominated in local currency and U.S. dollars, is deposited in local and foreign bank are freely available. The demand deposits interest yield is based on daily bank deposit rates.</td></tr></table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in">(c)</td><td>As of December 31, 2019 and 2018, the short-term deposits held in local banks were freely available and earned interest at the respective short-term deposits rates. These short-term deposits, with original maturities of less than three months, were collected in January 2020 and January and February 2019, respectively.</td></tr></table><br/> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: center">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Cash on hand</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">149</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">152</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Cash at banks (b)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">16,617</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">18,821</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; text-align: left">Short-term deposits (c)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">51,500</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">30,094</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt; text-indent: -7.1pt; padding-left: 7.1pt">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: right">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">68,266</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: right">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">49,067</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in">(b)</td><td>Cash at banks is denominated in local currency and U.S. dollars, is deposited in local and foreign bank are freely available. The demand deposits interest yield is based on daily bank deposit rates.</td></tr></table><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in">(c)</td><td>As of December 31, 2019 and 2018, the short-term deposits held in local banks were freely available and earned interest at the respective short-term deposits rates. These short-term deposits, with original maturities of less than three months, were collected in January 2020 and January and February 2019, respectively.</td></tr></table> 149000 152000 16617000 18821000 51500000 30094000 <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.5in; text-align: left">7.</td><td>Trade and other receivables</td> </tr></table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in">(a)</td><td><p style="margin: 0; font: 10pt Times New Roman, Times, Serif">This item comprised the following:</p> </td></tr></table><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: center">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Current</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Non-current</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: center">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Trade receivables (b)</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">100,201</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">80,328</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">-</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">-</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Other accounts receivable (c)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">12,973</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">3,353</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">386</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Other receivables from sale of fixed assets</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,023</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">3,967</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">732</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">923</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Loans granted</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,566</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">198</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Loans to employees</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,398</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,032</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Accounts receivable from Parent company and affiliates, note 26</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,171</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">3,209</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Interest receivables, note 6(c)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">408</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">164</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Indemnification from insurance</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">231</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">10,366</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Funds restricted to tax payments</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">331</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; text-align: left">Allowance for expected credit losses (d)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(3,747</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(2,295</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Financial assets classified as receivables (e)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">115,224</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">100,455</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,316</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">923</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Value-added tax credit</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">4,956</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">2,308</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">3,157</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">3,402</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Tax refund receivable</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">350</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">206</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">9,242</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">9,241</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Allowance for expected credit losses (d)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(9,034</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(9,034</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Non-financial assets classified as receivables</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,306</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,514</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,365</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,609</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt; text-indent: -7.1pt; padding-left: 7.1pt">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">120,530</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">102,969</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">4,681</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">4,532</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in">(b)</td><td>Trade account receivables have current maturities (30 to 90 days) and those overdue interest bearing.</td></tr></table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in">(c)</td><td style="padding-right: 7.05pt">As of December 31, 2019, includes principally accounts receivable from a third party for the sale of regional and local public investment certificates (CIPRL) for S/9,900,000. These certificates were delivered to the Group by the Peruvian Government as compensation for the investment made in a public work and constitute a security that can be used for the payment of taxes by any entity.</td></tr></table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in">(d)</td><td style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0pt">The movement of the allowance for expected credit losses is as follows:</td></tr></table><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: center">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2017</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; font-weight: bold; text-align: left">Opening balance</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">11,329</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">1,685</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">781</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td>Additions</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,452</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">9,717</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,190</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Recoveries</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(62</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt">Write-off</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(11</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(286</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt; font-weight: bold">Ending balance</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">12,781</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">11,329</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">1,685</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0pt">As of December 31, 2019, the additions included S/1,452,000 related to the allowance for expected credit losses for trade receivables (S/683,000 as of December 31,2018), which are presented in &#x201c;Selling and distribution expenses&#x201d; in the consolidated statement of profit or loss, see note 21.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 7.05pt 0pt 1in; text-indent: 0in">As of December 31, 2018, the additions included S/9,034,000 related to the allowance for expected credit losses for tax refund receivable, see note 23.</p><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left">(e)</td><td style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0pt">The aging analysis of trade and other accounts receivable as of December 31, 2019 and 2018, is as follows:</td> </tr></table><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="18" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Past due but not impaired</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Neither past due nor impaired</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: normal">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: normal; text-align: center"><b>&lt; 30 <br/> days</b></td><td style="padding-bottom: 1.5pt; font-weight: normal">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">30-60 <br/> days</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">61-90 <br/> days</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">91-120 <br/> days</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: normal">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: normal; text-align: center"><b>&gt; 120 <br/> days</b></td><td style="padding-bottom: 1.5pt; font-weight: normal">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 16%; font-weight: bold; text-align: left">2019</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">116,540</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">92,325</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">12,525</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">531</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">1,635</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">-</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">9,524</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left">2018</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">101,378</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">32,591</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">43,441</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">9,303</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">3,364</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">620</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">12,059</td><td style="text-align: left">&#xa0;</td></tr> </table><br/> 9900000 1452000 683000 9034000 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: center">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Current</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Non-current</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: center">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Trade receivables (b)</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">100,201</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">80,328</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">-</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">-</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Other accounts receivable (c)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">12,973</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">3,353</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">386</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Other receivables from sale of fixed assets</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,023</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">3,967</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">732</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">923</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Loans granted</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,566</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">198</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Loans to employees</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,398</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,032</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Accounts receivable from Parent company and affiliates, note 26</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,171</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">3,209</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Interest receivables, note 6(c)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">408</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">164</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Indemnification from insurance</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">231</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">10,366</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Funds restricted to tax payments</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">331</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; text-align: left">Allowance for expected credit losses (d)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(3,747</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(2,295</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Financial assets classified as receivables (e)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">115,224</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">100,455</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,316</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">923</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Value-added tax credit</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">4,956</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">2,308</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">3,157</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">3,402</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Tax refund receivable</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">350</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">206</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">9,242</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">9,241</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Allowance for expected credit losses (d)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(9,034</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(9,034</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Non-financial assets classified as receivables</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,306</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,514</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,365</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,609</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt; text-indent: -7.1pt; padding-left: 7.1pt">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">120,530</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">102,969</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">4,681</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">4,532</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in">(b)</td><td>Trade account receivables have current maturities (30 to 90 days) and those overdue interest bearing.</td></tr></table><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in">(c)</td><td style="padding-right: 7.05pt">As of December 31, 2019, includes principally accounts receivable from a third party for the sale of regional and local public investment certificates (CIPRL) for S/9,900,000. These certificates were delivered to the Group by the Peruvian Government as compensation for the investment made in a public work and constitute a security that can be used for the payment of taxes by any entity.</td></tr></table><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in">(d)</td><td style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0pt">The movement of the allowance for expected credit losses is as follows:</td></tr></table><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left">(e)</td><td style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0pt">The aging analysis of trade and other accounts receivable as of December 31, 2019 and 2018, is as follows:</td> </tr></table> 100201000 80328000 12973000 3353000 386000 1023000 3967000 732000 923000 1566000 198000 1398000 1032000 1171000 3209000 408000 164000 231000 10366000 331000 -3747000 -2295000 115224000 100455000 1316000 923000 4956000 2308000 3157000 3402000 350000 206000 9242000 9241000 -9034000 -9034000 5306000 2514000 3365000 3609000 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: center">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2017</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; font-weight: bold; text-align: left">Opening balance</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">11,329</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">1,685</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">781</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td>Additions</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,452</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">9,717</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,190</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Recoveries</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(62</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt">Write-off</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(11</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(286</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt; font-weight: bold">Ending balance</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">12,781</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">11,329</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">1,685</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table> 11329000 1685000 781000 1452000 9717000 1190000 62000 11000 286000 12781000 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="18" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Past due but not impaired</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Neither past due nor impaired</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: normal">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: normal; text-align: center"><b>&lt; 30 <br/> days</b></td><td style="padding-bottom: 1.5pt; font-weight: normal">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">30-60 <br/> days</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">61-90 <br/> days</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">91-120 <br/> days</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: normal">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: normal; text-align: center"><b>&gt; 120 <br/> days</b></td><td style="padding-bottom: 1.5pt; font-weight: normal">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 16%; font-weight: bold; text-align: left">2019</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">116,540</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">92,325</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">12,525</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">531</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">1,635</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">-</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">9,524</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left">2018</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">101,378</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">32,591</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">43,441</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">9,303</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">3,364</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">620</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">12,059</td><td style="text-align: left">&#xa0;</td></tr> </table> 116540000 92325000 12525000 531000 1635000 9524000 101378000 32591000 43441000 9303000 3364000 620000 12059000 <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.5in; text-align: left">8.</td><td>Inventories</td> </tr></table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in">(a)</td><td><p style="margin: 0; font: 10pt Times New Roman, Times, Serif">This item comprised the following:</p> </td></tr></table><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: center">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left; text-indent: -8.8pt; padding-left: 8.8pt">Goods and finished products</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">22,133</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">16,832</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -8.8pt; padding-left: 8.8pt">Work in progress</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">166,999</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">133,972</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -8.8pt; padding-left: 8.8pt">Raw materials</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">167,159</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">118,816</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -8.8pt; padding-left: 8.8pt">Packages and packing</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">3,721</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">2,025</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -8.8pt; padding-left: 8.8pt">Fuel</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">3,159</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">2,715</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -8.8pt; padding-left: 8.8pt">Spare parts and supplies</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">168,241</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">163,540</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; text-align: left; text-indent: -8.8pt; padding-left: 8.8pt">Inventory in transit</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">4,845</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,858</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -8.8pt; padding-left: 8.8pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">536,257</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">439,758</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; text-align: left; text-indent: -8.8pt; padding-left: 8.8pt">Less - Provision for inventory obsolescence (b)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(17,253</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(14,975</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt; text-indent: -8.8pt; padding-left: 8.8pt">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">519,004</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">424,783</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in">(b)</td><td>Movement in the provision for inventory obsolescence value is set forth below:</td></tr></table><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: center">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2017</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; font-weight: bold; text-align: left">Opening balance</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">14,975</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">11,167</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">8,449</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td>Additions</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">2,498</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">3,808</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">3,183</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Recoveries</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(220</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(465</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left">Final balance</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">17,253</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">14,975</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">11,167</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table><br/> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: center">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left; text-indent: -8.8pt; padding-left: 8.8pt">Goods and finished products</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">22,133</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">16,832</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -8.8pt; padding-left: 8.8pt">Work in progress</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">166,999</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">133,972</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -8.8pt; padding-left: 8.8pt">Raw materials</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">167,159</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">118,816</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -8.8pt; padding-left: 8.8pt">Packages and packing</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">3,721</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">2,025</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -8.8pt; padding-left: 8.8pt">Fuel</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">3,159</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">2,715</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -8.8pt; padding-left: 8.8pt">Spare parts and supplies</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">168,241</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">163,540</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; text-align: left; text-indent: -8.8pt; padding-left: 8.8pt">Inventory in transit</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">4,845</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,858</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -8.8pt; padding-left: 8.8pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">536,257</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">439,758</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; text-align: left; text-indent: -8.8pt; padding-left: 8.8pt">Less - Provision for inventory obsolescence (b)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(17,253</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(14,975</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt; text-indent: -8.8pt; padding-left: 8.8pt">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">519,004</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">424,783</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in">(b)</td><td>Movement in the provision for inventory obsolescence value is set forth below:</td></tr></table> 22133000 16832000 166999000 133972000 167159000 118816000 3721000 2025000 3159000 2715000 168241000 163540000 4845000 1858000 536257000 439758000 17253000 14975000 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: center">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2017</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; font-weight: bold; text-align: left">Opening balance</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">14,975</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">11,167</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">8,449</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td>Additions</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">2,498</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">3,808</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">3,183</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Recoveries</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(220</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(465</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left">Final balance</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">17,253</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">14,975</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">11,167</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table> 14975000 11167000 8449000 2498000 3808000 3183000 220000 465000 17253000 <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.5in; text-align: left"><b>9.</b></td><td><b>Financial investment designated at fair value through OCI</b></td> </tr></table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in">(a)</td><td>Movement in financial investment designated at fair value through OCI is as follow:</td></tr></table><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: center">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2017</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; font-weight: bold; text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Beginning balance</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">26,883</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">21,206</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">657</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Fair value change recorded in other comprehensive income</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(8,659</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">5,677</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">37</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Investment shares from spin-off, note 1.2</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left"></td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">21,206</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Disposals</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(694</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -7.1pt; padding-left: 7.1pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt; font-weight: bold; text-indent: -7.1pt; padding-left: 7.1pt">Ending balance</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">18,224</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">26,883</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">21,206</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in">(b)</td><td>As of December 31, 2019 and 2018, corresponded to 9,148,373 investment shares of Fossal S.A.A., as a result of the execution of the spin-off project, explained in note 1.2. These shares represented 7.76% of equity of Fossal S.A.A., see characteristics of investment shares in note 17(b).</td></tr></table><br/> 9148373 9148373 0.0776 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: center">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2017</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; font-weight: bold; text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Beginning balance</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">26,883</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">21,206</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">657</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Fair value change recorded in other comprehensive income</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(8,659</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">5,677</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">37</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Investment shares from spin-off, note 1.2</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left"></td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">21,206</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Disposals</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(694</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -7.1pt; padding-left: 7.1pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt; font-weight: bold; text-indent: -7.1pt; padding-left: 7.1pt">Ending balance</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">18,224</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">26,883</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">21,206</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in">(b)</td><td>As of December 31, 2019 and 2018, corresponded to 9,148,373 investment shares of Fossal S.A.A., as a result of the execution of the spin-off project, explained in note 1.2. 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8pt">&#xa0;</font></td><td style="width: 1%"><font style="font-size: 8pt">&#xa0;</font></td> <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="width: 4%; text-align: right"><font style="font-size: 8pt">676,937</font></td><td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="width: 1%"><font style="font-size: 8pt">&#xa0;</font></td> <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="width: 4%; text-align: right"><font style="font-size: 8pt">1,591,059</font></td><td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="width: 1%"><font style="font-size: 8pt">&#xa0;</font></td> <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="width: 4%; text-align: right"><font style="font-size: 8pt">31,401</font></td><td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="width: 1%"><font style="font-size: 8pt">&#xa0;</font></td> <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="width: 4%; text-align: right"><font style="font-size: 8pt">122,318</font></td><td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="width: 1%"><font style="font-size: 8pt">&#xa0;</font></td> <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="width: 4%; text-align: right"><font style="font-size: 8pt">58,413</font></td><td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="width: 1%"><font style="font-size: 8pt">&#xa0;</font></td> <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="width: 4%; text-align: right"><font style="font-size: 8pt">6,089</font></td><td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="width: 1%"><font style="font-size: 8pt">&#xa0;</font></td> <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="width: 4%; text-align: right"><font style="font-size: 8pt">64,904</font></td><td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="width: 1%"><font style="font-size: 8pt">&#xa0;</font></td> <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="width: 4%; text-align: right"><font style="font-size: 8pt">42,872</font></td><td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="width: 1%"><font style="font-size: 8pt">&#xa0;</font></td> <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="width: 4%; text-align: right"><font style="font-size: 8pt">2,944,606</font></td><td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -7.65pt; padding-left: 7.65pt"><font style="font-size: 8pt">Additions</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">194</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">4,838</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">12,701</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">-</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">19,993</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">534</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">3,294</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">742</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">-</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">-</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font 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8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">-</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">(2,325</font></td><td style="text-align: left"><font style="font-size: 8pt">)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">(691</font></td><td style="text-align: left"><font style="font-size: 8pt">)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">(6,588</font></td><td style="text-align: left"><font style="font-size: 8pt">)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">(3</font></td><td style="text-align: left"><font style="font-size: 8pt">)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">(10,089</font></td><td style="text-align: left"><font style="font-size: 8pt">)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">(11,547</font></td><td style="text-align: left"><font style="font-size: 8pt">)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">(4,574</font></td><td style="text-align: left"><font style="font-size: 8pt">)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">-</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">(699</font></td><td style="text-align: left"><font style="font-size: 8pt">)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">(36,516</font></td><td style="text-align: left"><font style="font-size: 8pt">)</font></td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; text-align: left; text-indent: -7.65pt; padding-left: 7.65pt"><font style="font-size: 8pt">Transfers, note 11</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><font style="font-size: 8pt">(98</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">)</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><font style="font-size: 8pt">(2,235</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">)</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><font style="font-size: 8pt">1,490</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><font style="font-size: 8pt">(1,400</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">)</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><font style="font-size: 8pt">17,913</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><font style="font-size: 8pt">209</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><font style="font-size: 8pt">306</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><font style="font-size: 8pt">979</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><font style="font-size: 8pt">-</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><font style="font-size: 8pt">-</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><font style="font-size: 8pt">(20,225</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">)</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><font style="font-size: 8pt">(3,061</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">)</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-indent: -7.65pt; padding-left: 7.65pt"><font style="font-size: 8pt">As of December 31, 2018</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">76,904</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">47,850</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">240,424</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">674,846</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">1,622,377</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">32,141</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">115,829</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">48,587</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">1,515</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">64,904</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">59,126</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">2,984,503</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -7.65pt; padding-left: 7.65pt"><font style="font-size: 8pt">Additions</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">-</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">6,497</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">9,014</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">-</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font 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<td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">81,751</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -7.65pt; padding-left: 7.65pt"><font style="font-size: 8pt">Disposals</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">(854</font></td><td style="text-align: left"><font style="font-size: 8pt">)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">-</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">(386</font></td><td style="text-align: left"><font style="font-size: 8pt">)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">-</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">(2,038</font></td><td style="text-align: left"><font style="font-size: 8pt">)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">(25</font></td><td style="text-align: left"><font style="font-size: 8pt">)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">(3,137</font></td><td style="text-align: left"><font style="font-size: 8pt">)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">-</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">-</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">-</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">(94</font></td><td style="text-align: left"><font style="font-size: 8pt">)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">(6,534</font></td><td style="text-align: left"><font style="font-size: 8pt">)</font></td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; text-align: left; text-indent: -7.65pt; padding-left: 7.65pt"><font style="font-size: 8pt">Transfers, note 11</font></td><td style="padding-bottom: 1.5pt"><font 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left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt; font-weight: bold; text-indent: -7.65pt; padding-left: 7.65pt"><font style="font-size: 8pt">As of December 31, 2019</font></td><td style="padding-bottom: 4pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 4pt double; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 4pt double; text-align: right"><font style="font-size: 8pt">76,135</font></td><td style="padding-bottom: 4pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 4pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 4pt double; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 4pt double; text-align: right"><font style="font-size: 8pt">51,705</font></td><td style="padding-bottom: 4pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 4pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 4pt double; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 4pt double; text-align: right"><font style="font-size: 8pt">251,655</font></td><td style="padding-bottom: 4pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 4pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 4pt double; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 4pt double; text-align: right"><font 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8pt">&#xa0;</font></td> <td style="border-bottom: Black 4pt double; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 4pt double; text-align: right"><font style="font-size: 8pt">123,568</font></td><td style="padding-bottom: 4pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 4pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 4pt double; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 4pt double; text-align: right"><font style="font-size: 8pt">50,951</font></td><td style="padding-bottom: 4pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 4pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 4pt double; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 4pt double; text-align: right"><font 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8pt">&#xa0;</font></td><td style="font-weight: bold; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-weight: bold"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-weight: bold; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-weight: bold; text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-weight: bold; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-weight: bold"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-weight: bold; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-weight: bold; text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-weight: bold; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-weight: bold"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-weight: bold; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-weight: bold; text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-weight: bold; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-weight: bold"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-weight: bold; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-weight: bold; text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-weight: bold; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-weight: bold"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-weight: bold; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-weight: bold; text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-weight: bold; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td></tr> <tr style="vertical-align: bottom; "> <td 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8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-indent: -7.65pt; padding-left: 7.65pt"><font style="font-size: 8pt">As of January 1, 2018</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">12,119</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">9,750</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">-</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">85,794</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td 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8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">1,522</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">-</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">126,658</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -7.65pt; padding-left: 7.65pt"><font style="font-size: 8pt">Disposals</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">-</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">-</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">-</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">(161</font></td><td style="text-align: left"><font 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text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><font style="font-size: 8pt">(326</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">)</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><font style="font-size: 8pt">-</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><font style="font-size: 8pt">-</font></td><td style="padding-bottom: 1.5pt; 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left"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><font style="font-size: 8pt">-</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><font style="font-size: 8pt">-</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><font style="font-size: 8pt">(326</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">)</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-indent: -7.65pt; padding-left: 7.65pt"><font style="font-size: 8pt">As of December 31, 2018</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">12,119</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">9,975</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">-</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">103,415</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">466,835</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td 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left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">-</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">-</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">(4,292</font></td><td style="text-align: left"><font style="font-size: 8pt">)</font></td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; text-align: left; text-indent: -7.65pt; 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style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><font style="font-size: 8pt">-</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><font style="font-size: 8pt">-</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: 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padding-left: 7.65pt"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: left"><font 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left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; font-weight: bold; text-indent: -7.65pt; padding-left: 7.65pt"><font style="font-size: 8pt">As of December 31, 2018</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><font style="font-size: 8pt">21,927</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><font style="font-size: 8pt">13,827</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><font style="font-size: 8pt">240,424</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><font style="font-size: 8pt">557,594</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><font style="font-size: 8pt">1,143,376</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: 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double; text-align: right"><font style="font-size: 8pt">21,093</font></td><td style="padding-bottom: 4pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 4pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 4pt double; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 4pt double; text-align: right"><font style="font-size: 8pt">17,586</font></td><td style="padding-bottom: 4pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 4pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 4pt double; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 4pt double; text-align: right"><font style="font-size: 8pt">251,655</font></td><td style="padding-bottom: 4pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 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double; text-align: right"><font style="font-size: 8pt">3,258</font></td><td style="padding-bottom: 4pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 4pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 4pt double; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 4pt double; text-align: right"><font style="font-size: 8pt">40,315</font></td><td style="padding-bottom: 4pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 4pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 4pt double; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 4pt double; text-align: right"><font style="font-size: 8pt">11,685</font></td><td style="padding-bottom: 4pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 4pt"><font 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right"><font style="font-size: 8pt">46,714</font></td><td style="padding-bottom: 4pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 4pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 4pt double; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 4pt double; text-align: right"><font style="font-size: 8pt">2,100,682</font></td><td style="padding-bottom: 4pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td></tr> </table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in">(b)</td><td>Mining concessions mainly included net acquisition costs of S/15,367,000 related to coal concessions acquired through a purchase option executed from 2011 to 2013. 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According to the management&#xb4;s expectation the recovery amount of this zinc mining unit is zero.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0in">During 2017, the Group recognized an impairment on the brine project, as explained in note 1.3, derecognized mining concessions and other assets related to said project for S/1,732,000.</p><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in">(c)</td><td>There were no additions under leases during 2019 neither under finance leases during 2018.</td></tr></table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in">(d)</td><td>The Group has 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style="text-align: center"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td colspan="2" style="text-align: center"><font style="font-size: 8pt">S/(000)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td colspan="2" style="text-align: center"><font style="font-size: 8pt">S/(000)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td colspan="2" style="text-align: center"><font style="font-size: 8pt">S/(000)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td colspan="2" style="text-align: center"><font style="font-size: 8pt">S/(000)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td colspan="2" style="text-align: center"><font style="font-size: 8pt">S/(000)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td colspan="2" style="text-align: center"><font style="font-size: 8pt">S/(000)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td colspan="2" style="text-align: center"><font style="font-size: 8pt">S/(000)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td colspan="2" style="text-align: center"><font style="font-size: 8pt">S/(000)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td colspan="2" style="text-align: center"><font style="font-size: 8pt">S/(000)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td colspan="2" style="text-align: center"><font style="font-size: 8pt">S/(000)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td colspan="2" style="text-align: center"><font style="font-size: 8pt">S/(000)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td colspan="2" style="text-align: center"><font style="font-size: 8pt">S/(000)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td colspan="2" style="text-align: center"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td colspan="2" style="text-align: center"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td colspan="2" style="text-align: center"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td colspan="2" style="text-align: center"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td colspan="2" style="text-align: center"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td colspan="2" style="text-align: center"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td colspan="2" style="text-align: center"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td colspan="2" style="text-align: center"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td colspan="2" style="text-align: center"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td colspan="2" style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td colspan="2" style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td colspan="2" style="text-align: center"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold"><font style="font-size: 8pt">Cost</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td colspan="2"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td colspan="2"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td colspan="2"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td colspan="2"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td colspan="2"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td colspan="2"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td colspan="2"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td colspan="2"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td colspan="2"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td colspan="2"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td colspan="2"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td colspan="2"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 16%; font-weight: bold; text-indent: -7.65pt; padding-left: 7.65pt"><font style="font-size: 8pt">As of January 1, 2018</font></td><td style="width: 1%"><font style="font-size: 8pt">&#xa0;</font></td> <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="width: 4%; text-align: right"><font style="font-size: 8pt">76,808</font></td><td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="width: 1%"><font style="font-size: 8pt">&#xa0;</font></td> <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="width: 4%; text-align: right"><font style="font-size: 8pt">45,247</font></td><td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="width: 1%"><font style="font-size: 8pt">&#xa0;</font></td> <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="width: 4%; text-align: right"><font style="font-size: 8pt">228,558</font></td><td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="width: 1%"><font style="font-size: 8pt">&#xa0;</font></td> <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="width: 4%; text-align: right"><font style="font-size: 8pt">676,937</font></td><td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="width: 1%"><font style="font-size: 8pt">&#xa0;</font></td> <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="width: 4%; text-align: right"><font style="font-size: 8pt">1,591,059</font></td><td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="width: 1%"><font style="font-size: 8pt">&#xa0;</font></td> <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="width: 4%; text-align: right"><font style="font-size: 8pt">31,401</font></td><td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="width: 1%"><font style="font-size: 8pt">&#xa0;</font></td> <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="width: 4%; text-align: right"><font style="font-size: 8pt">122,318</font></td><td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="width: 1%"><font style="font-size: 8pt">&#xa0;</font></td> <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="width: 4%; text-align: right"><font style="font-size: 8pt">58,413</font></td><td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="width: 1%"><font style="font-size: 8pt">&#xa0;</font></td> <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="width: 4%; text-align: right"><font style="font-size: 8pt">6,089</font></td><td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="width: 1%"><font style="font-size: 8pt">&#xa0;</font></td> <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="width: 4%; text-align: right"><font style="font-size: 8pt">64,904</font></td><td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="width: 1%"><font style="font-size: 8pt">&#xa0;</font></td> <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="width: 4%; text-align: right"><font style="font-size: 8pt">42,872</font></td><td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="width: 1%"><font style="font-size: 8pt">&#xa0;</font></td> <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="width: 4%; text-align: right"><font style="font-size: 8pt">2,944,606</font></td><td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -7.65pt; padding-left: 7.65pt"><font style="font-size: 8pt">Additions</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">194</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">4,838</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">12,701</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">-</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">19,993</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">534</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">3,294</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">742</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">-</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">-</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">37,178</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">79,474</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -7.65pt; padding-left: 7.65pt"><font style="font-size: 8pt">Disposals</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">-</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">-</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">(2,325</font></td><td style="text-align: left"><font style="font-size: 8pt">)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">(691</font></td><td style="text-align: left"><font style="font-size: 8pt">)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">(6,588</font></td><td style="text-align: left"><font style="font-size: 8pt">)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">(3</font></td><td style="text-align: left"><font style="font-size: 8pt">)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">(10,089</font></td><td style="text-align: left"><font style="font-size: 8pt">)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">(11,547</font></td><td style="text-align: left"><font style="font-size: 8pt">)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">(4,574</font></td><td style="text-align: left"><font style="font-size: 8pt">)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">-</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">(699</font></td><td style="text-align: left"><font style="font-size: 8pt">)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">(36,516</font></td><td style="text-align: left"><font style="font-size: 8pt">)</font></td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; text-align: left; text-indent: -7.65pt; padding-left: 7.65pt"><font style="font-size: 8pt">Transfers, note 11</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><font style="font-size: 8pt">(98</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">)</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><font style="font-size: 8pt">(2,235</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">)</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><font style="font-size: 8pt">1,490</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><font style="font-size: 8pt">(1,400</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">)</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><font style="font-size: 8pt">17,913</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><font style="font-size: 8pt">209</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><font style="font-size: 8pt">306</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><font style="font-size: 8pt">979</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><font style="font-size: 8pt">-</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><font style="font-size: 8pt">-</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><font style="font-size: 8pt">(20,225</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">)</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><font style="font-size: 8pt">(3,061</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">)</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-indent: -7.65pt; padding-left: 7.65pt"><font style="font-size: 8pt">As of December 31, 2018</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">76,904</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">47,850</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">240,424</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">674,846</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">1,622,377</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">32,141</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">115,829</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">48,587</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">1,515</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">64,904</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">59,126</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">2,984,503</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -7.65pt; padding-left: 7.65pt"><font style="font-size: 8pt">Additions</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">-</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">6,497</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">9,014</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">-</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">10,177</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">295</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">10,739</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">1,119</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">-</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">-</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">43,910</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">81,751</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -7.65pt; padding-left: 7.65pt"><font style="font-size: 8pt">Disposals</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">(854</font></td><td style="text-align: left"><font style="font-size: 8pt">)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">-</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">(386</font></td><td style="text-align: left"><font style="font-size: 8pt">)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">-</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">(2,038</font></td><td style="text-align: left"><font style="font-size: 8pt">)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">(25</font></td><td style="text-align: left"><font style="font-size: 8pt">)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">(3,137</font></td><td style="text-align: left"><font style="font-size: 8pt">)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">-</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">-</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">-</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">(94</font></td><td style="text-align: left"><font style="font-size: 8pt">)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">(6,534</font></td><td style="text-align: left"><font style="font-size: 8pt">)</font></td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; text-align: left; text-indent: -7.65pt; padding-left: 7.65pt"><font style="font-size: 8pt">Transfers, note 11</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><font style="font-size: 8pt">85</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><font style="font-size: 8pt">(2,642</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">)</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><font style="font-size: 8pt">2,603</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><font style="font-size: 8pt">9,492</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 1.5pt solid; 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style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-indent: -7.65pt; padding-left: 7.65pt"><font style="font-size: 8pt">As of January 1, 2018</font></td><td><font style="font-size: 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8pt">85,794</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">382,634</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">27,915</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">72,979</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">42,766</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">1,434</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">2,936</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">-</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">638,327</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -7.65pt; padding-left: 7.65pt"><font style="font-size: 8pt">Additions</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">-</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">551</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">-</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">17,782</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">89,644</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">732</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">12,408</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">3,967</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">52</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">1,522</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">-</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">126,658</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -7.65pt; padding-left: 7.65pt"><font style="font-size: 8pt">Disposals</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">-</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">-</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">-</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">(161</font></td><td style="text-align: left"><font style="font-size: 8pt">)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">(5,443</font></td><td style="text-align: left"><font style="font-size: 8pt">)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">(2</font></td><td style="text-align: left"><font style="font-size: 8pt">)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">(8,627</font></td><td style="text-align: left"><font style="font-size: 8pt">)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">(11,541</font></td><td style="text-align: left"><font style="font-size: 8pt">)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">(1,431</font></td><td style="text-align: left"><font style="font-size: 8pt">)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">-</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">-</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">(27,205</font></td><td style="text-align: left"><font style="font-size: 8pt">)</font></td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; text-align: left; text-indent: -7.65pt; padding-left: 7.65pt"><font style="font-size: 8pt">Transfers and reclassifications, note 11</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><font style="font-size: 8pt">-</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><font style="font-size: 8pt">(326</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">)</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><font style="font-size: 8pt">-</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><font style="font-size: 8pt">-</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><font style="font-size: 8pt">-</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><font style="font-size: 8pt">-</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><font style="font-size: 8pt">-</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><font style="font-size: 8pt">-</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><font style="font-size: 8pt">-</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><font style="font-size: 8pt">-</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><font style="font-size: 8pt">-</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><font style="font-size: 8pt">(326</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">)</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-indent: -7.65pt; padding-left: 7.65pt"><font style="font-size: 8pt">As of December 31, 2018</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">12,119</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">9,975</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">-</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">103,415</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">466,835</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">28,645</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">76,760</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">35,192</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">55</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">4,458</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">-</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">737,454</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -7.65pt; padding-left: 7.65pt"><font style="font-size: 8pt">Additions</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">65</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">424</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">-</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">18,047</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">90,385</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">760</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td 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8pt">&#xa0;</font></td> <td style="font-weight: bold; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-weight: bold; text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-weight: bold; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; text-indent: -7.65pt; padding-left: 7.65pt"><font style="font-size: 8pt">Impairment mining assets (b)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td 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style="text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; font-weight: bold; text-indent: -7.65pt; padding-left: 7.65pt"><font style="font-size: 8pt">As of December 31, 2018</font></td><td style="padding-bottom: 1.5pt"><font 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8pt">&#xa0;</font></td><td style="padding-bottom: 4pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 4pt double; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 4pt double; text-align: right"><font style="font-size: 8pt">46,714</font></td><td style="padding-bottom: 4pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 4pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 4pt double; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="border-bottom: Black 4pt double; text-align: right"><font style="font-size: 8pt">2,100,682</font></td><td style="padding-bottom: 4pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td></tr> </table><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: 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background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; text-align: left">Transfers and reclassifications, note 10</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">7,619</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">7,619</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: right; text-indent: -15.85pt; padding-left: 15.85pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt; font-weight: bold">As of December 31, 2019</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">25,145</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">24,543</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">1,975</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">48,726</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">100,389</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: right; text-indent: -15.85pt; padding-left: 15.85pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Accumulated amortization</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold">As of January 1, 2018</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">4,703</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">111</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">37</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">5,513</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">10,364</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Additions</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">2,003</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">691</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">34</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">393</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">3,121</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; text-align: left">Transfers, note 10</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">326</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">326</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">As of December 31, 2018</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">6,706</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">802</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">71</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">6,232</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">13,811</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td>Additions</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">2,470</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">2,454</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">878</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">5,802</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Disposals</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(59</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(59</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: right; text-indent: -15.85pt; padding-left: 15.85pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt; font-weight: bold">As of December 31, 2019</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">9,176</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">3,256</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">71</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">7,051</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">19,554</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: right; text-indent: -15.85pt; padding-left: 15.85pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Impairment of assets (b)</font></td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt; font-weight: bold">As &#xa0;of January 1, &#xa0;2018</td><td style="padding-bottom: 4pt; font-weight: bold">&#xa0;</td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt; font-weight: bold">&#xa0;</td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt; font-weight: bold">&#xa0;</td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">33,469</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">33,469</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt; font-weight: bold">As of December 31, 2018</td><td style="padding-bottom: 4pt; font-weight: bold">&#xa0;</td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt; font-weight: bold">&#xa0;</td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt; font-weight: bold">&#xa0;</td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">33,469</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">33,469</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: normal; text-align: right">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt; font-weight: bold">As of December 31, 2019</td><td style="padding-bottom: 4pt; font-weight: bold">&#xa0;</td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt; font-weight: bold">&#xa0;</td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt; font-weight: bold">&#xa0;</td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">33,469</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">33,469</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Net Value</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt; font-weight: bold">As of December 31, 2018</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">7,108</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">23,741</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">1,904</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">8,128</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">40,881</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt; font-weight: bold">As of December 31, 2019</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">15,969</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">21,287</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">1,904</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">8,206</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">47,366</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in">(b)</td><td>As of December 31, 2019 and 2018, the exploration and evaluation assets included mainly capital expenditures related to the coal project and to other minor projects related to the cement business.</td></tr></table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in">(c)</td><td>During 2019, additions and transfers mainly comprised the implementation of the SAP system. During 2018, the Group acquired brand and other intangibles for an amount of S/25,152,000 from a third party, which were recorded using the acquisition method reflecting their fair values at the acquisition date, see note 1.1.</td></tr></table><br/><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in">(d)</td><td>As of December 31, 2019 and 2018, the Group evaluated the conditions of use of the projects related to the exploration and mining evaluation costs and its other intangibles, not finding any indicators of impairment in said assets.</td></tr></table><br/> 25152000 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>IT </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>applications</b></p></td><td style="padding-bottom: 1.5pt">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Finite life </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>intangible</b></p></td><td style="padding-bottom: 1.5pt">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Indefinite life <br/> intangible</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Exploration <br/> cost and <br/> mining <br/> evaluation (b)</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Cost</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; font-weight: bold; text-indent: -7.65pt; padding-left: 7.65pt">As of January 1, 2018</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">10,225</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">1,025</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">341</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">45,659</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">57,250</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -7.65pt; padding-left: 7.65pt">Additions</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,569</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">23,518</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,634</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,129</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">27,850</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; text-align: left; text-indent: -7.65pt; padding-left: 7.65pt">Transfers, note 10</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,020</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,041</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,061</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-indent: -7.65pt; padding-left: 7.65pt">As of December 31, 2018</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">13,814</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">24,543</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,975</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">47,829</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">88,161</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Additions</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">3,712</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,623</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">5,335</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td>Disposals</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(726</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(726</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; text-align: left">Transfers and reclassifications, note 10</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">7,619</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">7,619</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: right; text-indent: -15.85pt; padding-left: 15.85pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt; font-weight: bold">As of December 31, 2019</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">25,145</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">24,543</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">1,975</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">48,726</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">100,389</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: right; text-indent: -15.85pt; padding-left: 15.85pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Accumulated amortization</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold">As of January 1, 2018</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">4,703</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">111</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">37</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">5,513</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">10,364</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Additions</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">2,003</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">691</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">34</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">393</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">3,121</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; text-align: left">Transfers, note 10</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">326</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">326</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">As of December 31, 2018</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">6,706</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">802</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">71</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">6,232</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">13,811</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td>Additions</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">2,470</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">2,454</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">878</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">5,802</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Disposals</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(59</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(59</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: right; text-indent: -15.85pt; padding-left: 15.85pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt; font-weight: bold">As of December 31, 2019</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">9,176</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">3,256</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">71</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">7,051</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">19,554</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: right; text-indent: -15.85pt; padding-left: 15.85pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Impairment of assets (b)</font></td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt; font-weight: bold">As &#xa0;of January 1, &#xa0;2018</td><td style="padding-bottom: 4pt; font-weight: bold">&#xa0;</td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt; font-weight: bold">&#xa0;</td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt; font-weight: bold">&#xa0;</td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">33,469</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">33,469</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt; font-weight: bold">As of December 31, 2018</td><td style="padding-bottom: 4pt; font-weight: bold">&#xa0;</td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt; font-weight: bold">&#xa0;</td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt; font-weight: bold">&#xa0;</td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">33,469</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">33,469</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: normal; text-align: right">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt; font-weight: bold">As of December 31, 2019</td><td style="padding-bottom: 4pt; font-weight: bold">&#xa0;</td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt; font-weight: bold">&#xa0;</td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt; font-weight: bold">&#xa0;</td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">33,469</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">33,469</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Net Value</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt; font-weight: bold">As of December 31, 2018</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">7,108</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">23,741</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">1,904</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">8,128</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">40,881</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt; font-weight: bold">As of December 31, 2019</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">15,969</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">21,287</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">1,904</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">8,206</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">47,366</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in">(b)</td><td>As of December 31, 2019 and 2018, the exploration and evaluation assets included mainly capital expenditures related to the coal project and to other minor projects related to the cement business.</td></tr></table> 10225000 1025000 341000 45659000 57250000 1569000 23518000 1634000 1129000 27850000 2020000 1041000 3061000 13814000 24543000 1975000 47829000 88161000 3712000 1623000 5335000 726000 726000 7619000 7619000 25145000 24543000 1975000 48726000 100389000 4703000 111000 37000 5513000 10364000 2003000 691000 34000 393000 3121000 326000 326000 6706000 802000 71000 6232000 13811000 2470000 2454000 878000 5802000 59000 59000 9176000 3256000 71000 7051000 19554000 33469000 33469000 33469000 33469000 33469000 33469000 7108000 23741000 1904000 8128000 40881000 15969000 21287000 1904000 8206000 47366000 <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.5in; text-align: left">12.</td><td>Goodwill</td> </tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">As of December 31, 2019 and 2018, the amount for goodwill was to S/4,459,000, from the acquisition of assets made by the subsidiary Distribuidora Norte Pacasmayo S.R.L., see note 1.1.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">The Group has assessed the recoverable amount of its goodwill and has determined that there are no indicators of an impairment loss of this asset as of December 31, 2018 and 2019.</p><br/> <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.5in; text-align: left">13.</td><td>Trade and other payables</td> </tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0in">This item comprised the following:</p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: center">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Trade payables</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">84,894</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">68,066</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Dividends payable, note 17(g)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">52,523</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">19,331</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Remuneration payable</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">18,007</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">15,605</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Interest payable</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">24,809</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">10,390</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Taxes and contributions</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">12,047</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">8,715</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Board of Directors&#x2019; fees</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">5,917</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">6,167</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Hedge finance cost payable</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">5,922</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">6,033</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Guarantee deposits</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">5,799</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">4,332</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Advances from customers</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">11,775</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">5,536</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Account payable to the principal and affiliates, note 26</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,772</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">209</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Accounts payable related to the acquisition of property, plant and equipment, note 10(f)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">8,698</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">4,627</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; text-align: left">Other accounts payable</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,136</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,554</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">237,299</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">154,565</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Trade accounts payable result from the purchases of material, services and supplies for the Group&#x2019;s operations, and mainly corresponded to invoices payable to domestic suppliers. These invoices are non-interest bearing and are normally settled in 60 to 120 days.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">Other payables are non-interest bearing and have an average term of 3 months.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">Interest payable is normally settled semiannually throughout the financial year.</p><br/> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: center">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Trade payables</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">84,894</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">68,066</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Dividends payable, note 17(g)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">52,523</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">19,331</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Remuneration payable</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">18,007</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">15,605</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Interest payable</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">24,809</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">10,390</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Taxes and contributions</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">12,047</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">8,715</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Board of Directors&#x2019; fees</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">5,917</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">6,167</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Hedge finance cost payable</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">5,922</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">6,033</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Guarantee deposits</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">5,799</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">4,332</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Advances from customers</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">11,775</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">5,536</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Account payable to the principal and affiliates, note 26</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,772</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">209</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Accounts payable related to the acquisition of property, plant and equipment, note 10(f)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">8,698</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">4,627</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; text-align: left">Other accounts payable</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,136</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,554</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">237,299</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">154,565</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table> 84894000 68066000 52523000 19331000 18007000 15605000 24809000 10390000 12047000 8715000 5917000 6167000 5922000 6033000 5799000 4332000 11775000 5536000 1772000 209000 5136000 5554000 <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.5in; text-align: left">14.</td><td>Provisions</td> </tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">This item comprised the following:</p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Workers&#x2019;<br/> profit-sharing</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Long-term <br/> incentive plan</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Rehabilitation <br/> provision</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; font-weight: bold">At January 1, 2019</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">14,341</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">36,000</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">1,489</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">51,830</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Additions, note 22</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">15,169</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">6,523</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">21,692</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Unwinding of discounts, note 25</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">118</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">340</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">458</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Payments and advances</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(15,607</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(34,127</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(49,734</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; padding-bottom: 4pt">At December 31, 2019</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">13,903</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">8,514</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">1,829</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">24,246</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left">Current portion</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">13,903</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">2,700</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">16,603</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt">Non-current portion</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,814</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,829</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">7,643</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">13,903</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">8,514</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">1,829</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">24,246</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td>&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">At January 1, 2018</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">20,147</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">30,322</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">2,399</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">52,868</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Additions, note 22</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">15,712</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">9,495</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">25,207</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Unwinding of discounts, note 25</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">767</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">767</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Change in estimates, note 23</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(910</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(910</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Payments and advances</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(21,518</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(4,584</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(26,102</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 4pt">At December 31, 2018</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">14,341</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">36,000</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">1,489</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">51,830</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td>&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Current portion</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">14,341</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">32,112</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">46,453</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt">Non-current portion</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,888</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,489</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,377</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">14,341</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">36,000</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">1,489</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">51,830</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">Workers&#x2019; profit sharing -</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">In accordance with Peruvian legislation, the Group is obliged to distribute between 8% and 10% of annual taxable income to employees. Distributions to employees under the plan are based 50% on the number of days that each employee worked during the preceding year and 50% on proportionate annual salary levels.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">Long-term incentive plan -</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">In 2011, the Group implemented a compensation plan for its key management. This long-term benefit is payable in cash, based on the salary of each officer and depends on the years of service of each officer in the Group. Under the plan, the executive would receive the equivalent of an annual salary for each year of service beginning to accrue from 2011. This benefit accrues and accumulates for each officer and is payable in two moments: to a group on the sixth year since the creation of this bonuses plan, to a second group on the seventh year since the creation of this bonuses plan and the last payment at the end of the ninth year from the creation of the plan. If the executive decides to voluntarily leave the Group before a scheduled distribution, he will not receive this compensation. In accordance with IAS 19, the Group used the Projected Unit Credit Method to determine the present value of this deferred obligation and the related current deferred cost, considering the expected increases in salary base and the corresponding current government bond discount rate.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">Rehabilitation provision -</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">As of December 31, 2019 and 2018, the rehabilitation provision corresponded to the provision for the future costs of rehabilitating the quarries exploited in Company&#x2019;s operations and the zinc mine site (fully impaired in 2011 and closed in 2018), located in the Region of Amazonas. The provision has been created based on studies made by internal specialists. Management believes that the assumptions used, based on current economic environment, are a reasonable basis upon which to estimate the future liability. These estimates are reviewed regularly to consider any material change to the assumptions. However, actual rehabilitation costs will ultimately depend upon future market prices for the necessary decommissioning works required to reflect future economic conditions.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">Future cash flows were estimated from financial budgets approved by Management. The range of sol risk free discount rates used in the calculation of the present value of this provision as of December 31, 2019 and 2018 was 6.52 to 7.65 percent, respectively.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">Management expects to incur a significant part of this obligation in the medium and long-term. The Group estimates that this liability is sufficient according to the current environmental protection laws approved by the Ministry of Energy and Mines.</p><br/> 0.08 0.10 0.50 0.50 0.0652 0.0765 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Workers&#x2019;<br/> profit-sharing</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Long-term <br/> incentive plan</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Rehabilitation <br/> provision</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; font-weight: bold">At January 1, 2019</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">14,341</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">36,000</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">1,489</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">51,830</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Additions, note 22</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">15,169</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">6,523</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">21,692</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Unwinding of discounts, note 25</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">118</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">340</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">458</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Payments and advances</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(15,607</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(34,127</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(49,734</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; padding-bottom: 4pt">At December 31, 2019</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">13,903</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">8,514</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">1,829</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">24,246</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left">Current portion</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">13,903</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">2,700</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">16,603</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt">Non-current portion</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,814</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,829</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">7,643</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">13,903</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">8,514</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">1,829</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">24,246</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td>&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">At January 1, 2018</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">20,147</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">30,322</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">2,399</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">52,868</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Additions, note 22</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">15,712</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">9,495</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">25,207</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Unwinding of discounts, note 25</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">767</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">767</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Change in estimates, note 23</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(910</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(910</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Payments and advances</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(21,518</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(4,584</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(26,102</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 4pt">At December 31, 2018</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">14,341</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">36,000</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">1,489</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">51,830</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td>&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Current portion</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">14,341</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">32,112</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">46,453</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt">Non-current portion</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,888</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,489</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,377</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">14,341</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">36,000</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">1,489</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">51,830</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table> 14341000 36000000 1489000 51830000 15169000 6523000 21692000 118000 340000 458000 -15607000 -34127000 -49734000 13903000 8514000 1829000 24246000 13903000 2700000 5814000 1829000 7643000 13903000 8514000 1829000 24246000 20147000 30322000 2399000 52868000 15712000 9495000 25207000 767000 767000 910000 910000 -21518000 -4584000 -26102000 14341000 32112000 3888000 1489000 5377000 14341000 36000000 1489000 51830000 <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.5in; text-align: left">15.</td><td>Financial obligations</td> </tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">This item comprised the following:</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Currency</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Nominal <br/> interest <br/> rate</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Maturity</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td style="text-align: center">%</td><td>&#xa0;</td> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: left">Short-term promissory notes</td><td>&#xa0;</td> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left; text-indent: -7.65pt; padding-left: 7.65pt">BBVA</td><td style="width: 1%">&#xa0;</td> <td style="width: 9%; text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">US$</td><td style="width: 1%">&#xa0;</td> <td style="width: 9%; text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">2.70</td><td style="width: 1%">&#xa0;</td> <td style="width: 15%; text-align: center">May 8, 2020</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">8,293</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">-</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -7.65pt; padding-left: 7.65pt">Banco de Cr&#xe9;dito del Per&#xfa;</td><td>&#xa0;</td> <td style="text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">S/</td><td>&#xa0;</td> <td style="text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">4.64</td><td>&#xa0;</td> <td style="text-align: center">June 18, 2020</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">13,689</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -7.65pt; padding-left: 7.65pt">Banco de Cr&#xe9;dito del Per&#xfa;</td><td>&#xa0;</td> <td style="text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">US$</td><td>&#xa0;</td> <td style="text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">3.36</td><td>&#xa0;</td> <td style="text-align: center">August 6, 2020</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">5,307</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -7.65pt; padding-left: 7.65pt">Banco de Cr&#xe9;dito del Per&#xfa;</td><td>&#xa0;</td> <td style="text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">US$</td><td>&#xa0;</td> <td style="text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">3.23</td><td>&#xa0;</td> <td style="text-align: center">August 14, 2020</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">4,864</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -7.65pt; padding-left: 7.65pt">Banco de Cr&#xe9;dito del Per&#xfa;</td><td>&#xa0;</td> <td style="text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">US$</td><td>&#xa0;</td> <td style="text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">3.16</td><td>&#xa0;</td> <td style="text-align: center">October 9, 2020</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">16,867</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -7.65pt; padding-left: 7.65pt">Scotiabank Per&#xfa; S.A.A.</td><td>&#xa0;</td> <td style="text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">US$</td><td>&#xa0;</td> <td style="text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">3.00</td><td>&#xa0;</td> <td style="text-align: center">October 10, 2020</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">43,121</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -7.65pt; padding-left: 7.65pt">Scotiabank Per&#xfa; S.A.A.</td><td>&#xa0;</td> <td style="text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">US$</td><td>&#xa0;</td> <td style="text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">2.35</td><td>&#xa0;</td> <td style="text-align: center">November 27, 2020</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">6,633</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -7.65pt; padding-left: 7.65pt">Banco de Cr&#xe9;dito del Per&#xfa;</td><td>&#xa0;</td> <td style="text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">US$</td><td>&#xa0;</td> <td style="text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">3.43</td><td>&#xa0;</td> <td style="text-align: center">April 15, 2019</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">16,895</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; text-align: left; text-indent: -7.65pt; padding-left: 7.65pt">Scotiabank Per&#xfa; S.A.A.</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="padding-bottom: 1.5pt; text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">US$</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="padding-bottom: 1.5pt; text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">3.40</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="padding-bottom: 1.5pt; text-align: center">October 10, 2019</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">43,927</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td>&#xa0;</td><td>&#xa0;</td> <td>&#xa0;</td><td>&#xa0;</td> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; 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text-indent: -10.35pt; padding-left: 10.35pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -7.65pt; padding-left: 7.65pt">Principal, net of issuance costs</td><td>&#xa0;</td> <td style="text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">US$</td><td>&#xa0;</td> <td style="text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">4.50</td><td>&#xa0;</td> <td style="text-align: center">February 8, 2023</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">434,380</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">441,786</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; 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padding-left: 10.35pt">6.84</td><td>&#xa0;</td> <td style="text-align: center">February 1, 2034</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">309,310</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -7.65pt; padding-left: 7.65pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; text-indent: -7.65pt; padding-left: 7.65pt">Mid-term promissory notes (bridge loans)</td><td>&#xa0;</td> <td style="text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -7.65pt; padding-left: 7.65pt">Banco de Cr&#xe9;dito del Per&#xfa;</td><td>&#xa0;</td> <td style="text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">S/</td><td>&#xa0;</td> <td style="text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">5.70</td><td>&#xa0;</td> <td style="text-align: center">-</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">169,000</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; text-align: left; text-indent: -7.65pt; padding-left: 7.65pt">Banco de Cr&#xe9;dito del Per&#xfa;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="padding-bottom: 1.5pt; text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">S/</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="padding-bottom: 1.5pt; text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">5.70</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="padding-bottom: 1.5pt; text-align: center">-</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">411,769</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>&#xa0;</td><td>&#xa0;</td> <td>&#xa0;</td><td>&#xa0;</td> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left; text-indent: -7.65pt; padding-left: 7.65pt">Total non-current</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="padding-bottom: 4pt; text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="padding-bottom: 4pt; text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="padding-bottom: 4pt; text-align: center">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">1,003,130</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">1,022,555</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; text-indent: -7.65pt; padding-left: 7.65pt">Current portion</td><td>&#xa0;</td> <td style="text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">98,774</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">60,822</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; text-indent: -7.65pt; padding-left: 7.65pt">Non-current portion</td><td>&#xa0;</td> <td style="text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,003,130</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,022,555</td><td style="text-align: left">&#xa0;</td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0in"><i>Short-term promissory notes</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">Financing with Banco de Cr&#xe9;dito del Per&#xfa;, BBVA Per&#xfa; and Scotiabank was obtained for working capital and with the purpose of resolving the acquisition of the business described in note 1.1. The short-term promissory notes have a current maturity and maintain an effective interest rate of 2.35 to 4.64 percent per year.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><i>Senior Notes denominated in U.S. dollars</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">The General Shareholder&#x2019;s Meeting held on January 7, 2013 approved a financing transaction for the Company. In connection with this approval, the Board of Directors&#x2019; Meeting held on January 24, 2013 approved the issuance of Senior Notes (the &#x201c;Senior Notes&#x201d;) through a private offering under Rule 144A and Regulation S of the U.S. Securities Act of 1933, as amended, and the listing of the Senior Notes on the Global Exchange Market of the Irish Stock Exchange. Consequently, on February 1, 2013, the Company issued Senior Notes denominated in U.S. dollars with a face value of US$300,000,000, with a nominal annual interest rate of 4.50%, and maturity in 2023, obtaining total net proceeds of US$293,646,000 (S/762,067,000). The Company used a portion of the net proceeds from the offering to prepay certain of its existing debt and the difference in capital expenditures in connection with its cement business. The Senior Notes are guaranteed by the following subsidiaries of the Company: Cementos Selva S.A., Distribuidora Norte Pacasmayo S.R.L., Empresa de Transmisi&#xf3;n Guadalupe S.A.C., Dinoselva Iquitos S.A.C and Calizas del Norte S.A.C. (in liquidation).</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">The Board of Directors&#x2019; Meeting held on November 26, 2018 approved the repurchase of a portion of the Senior Notes. As a result, the Company acquired senior notes for an amount of US$168,388,000. Consequently, as of December 31, 2018, US$131,612,000 (S/436,557,000) in Senior Notes was outstanding. To finance this repurchase, the Company obtained medium-term promissory notes from Banco de Cr&#xe9;dito del Per&#xfa; (bridge loans) for a total of S/580,769,000, which were paid with the proceeds from the issuance of senior notes denominated in soles in January 2019, as described bellow.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">As a result of the purchase of the Senior Notes described above, the Company&#x2019;s Management determined that it was not necessary to continue with all of the derivative financial instruments to hedge those liabilities. Accordingly, during December 2019, the Company settled US$150,000,000 of a total of US$300,000,000 of the previously outstanding derivative hedges that it had entered into in connection with the issuance of the Senior Notes. The loss from this settlement amounted to S/34,887,000, which is presented in &#x201c;cumulative net loss on settlement of derivative financial instruments&#x201d; in the consolidated statement of profit and loss for the year ended December 31, 2018. As of December 31, 2019 and 2018, the Company had hedged cash flow contracts to reduce the foreign currency risk of corporate bonds, which are denominated in U.S. dollars, see note 29.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><i>Senior Notes denominated in Soles</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><font style="font-weight: normal">The General Shareholders' Meeting held on January 8, 2019 approved the issuance of senior notes denominated in soles (the &#x201c;Soles Senior Notes&#x201d;) in the local market up to a maximum amount of S/1,000,000,000 through the Second Corporate Bonds Program of the Company, with the proceeds to be sued to pay the bridge loans described in second preceding paragraph. On January 31, 2019, Soles Senior Notes were issued for: i) S/260,000,000 at an interest rate of 6.688 percent per year and maturity of 10 years and ii) S/310,000,000 at an interest rate of 6.844 percent per year and maturity of 15 years.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">The Soles Senior Notes issued in January 2019 are guaranteed by the following subsidiaries of the Company: Cementos Selva S.A., Distribuidora Norte Pacasmayo S.R.L., Empresa de Transmisi&#xf3;n Guadalupe S.A.C. and Dinoselva Iquitos S.A.C.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">Financial covenants</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">The financial covenants related to the Senior Notes and the Soles Senior Notes provide that in order for the Company and its guarantor subsidiaries to issue debt or equity instruments or merge with another company or dispose or lease all or substantially all of their assets, the Company and Guarantee Subsidiaries must comply with the following ratios:</p><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in">-</td><td>The fixed charge covenant ratio of at least 2.5 to 1.</td></tr></table><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in">-</td><td>The consolidated debt-to-EBITDA ratio of no greater than 3.5 to 1.</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">As of December 31, 2019 and 2018, the Company was in compliance with all the covenants in force under the Senior Notes and Soles Senior Notes.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">As of December 31, 2019 and 2018, accrued interest on the Senior Notes and Soles Senior Notes was recognized in the consolidated statement of profit or loss in the amounts of S/56,081,000 and S/45,358,000, respectively, see note 25.</p><br/> 0.0235 0.0464 Consequently, on February 1, 2013, the Company issued Senior Notes denominated in U.S. dollars with a face value of US$300,000,000, with a nominal annual interest rate of 4.50%, and maturity in 2023, obtaining total net proceeds of US$293,646,000 (S/762,067,000). the Company acquired senior notes for an amount of US$168,388,000. Consequently, as of December 31, 2018, US$131,612,000 (S/436,557,000) in Senior Notes was outstanding. To finance this repurchase, the Company obtained medium-term promissory notes from Banco de Cr&#xe9;dito del Per&#xfa; (bridge loans) for a total of S/580,769,000, which were paid with the proceeds from the issuance of senior notes denominated in soles in January 2019, as described bellow. the Company&#x2019;s Management determined that it was not necessary to continue with all of the derivative financial instruments to hedge those liabilities. Accordingly, during December 2019, the Company settled US$150,000,000 of a total of US$300,000,000 of the previously outstanding derivative hedges that it had entered into in connection with the issuance of the Senior Notes. The loss from this settlement amounted to S/34,887,000, which is presented in &#x201c;cumulative net loss on settlement of derivative financial instruments&#x201d; in the consolidated statement of profit and loss for the year ended December 31, 2018. the issuance of senior notes denominated in soles (the &#x201c;Soles Senior Notes&#x201d;) in the local market up to a maximum amount of S/1,000,000,000 through the Second Corporate Bonds Program of the Company, with the proceeds to be sued to pay the bridge loans described in second preceding paragraph. On January 31, 2019, Soles Senior Notes were issued for: i) S/260,000,000 at an interest rate of 6.688 percent per year and maturity of 10 years and ii) S/310,000,000 at an interest rate of 6.844 percent per year and maturity of 15 years. The fixed charge covenant ratio of at least 2.5 to 1. -The consolidated debt-to-EBITDA ratio of no greater than 3.5 to 1. 56081000 45358000 <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Currency</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Nominal <br/> interest <br/> rate</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Maturity</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; 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text-align: right">8,293</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">-</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -7.65pt; padding-left: 7.65pt">Banco de Cr&#xe9;dito del Per&#xfa;</td><td>&#xa0;</td> <td style="text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">S/</td><td>&#xa0;</td> <td style="text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">4.64</td><td>&#xa0;</td> <td style="text-align: center">June 18, 2020</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">13,689</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -7.65pt; padding-left: 7.65pt">Banco de Cr&#xe9;dito del Per&#xfa;</td><td>&#xa0;</td> <td style="text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">US$</td><td>&#xa0;</td> <td style="text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">3.36</td><td>&#xa0;</td> <td style="text-align: center">August 6, 2020</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">5,307</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -7.65pt; padding-left: 7.65pt">Banco de Cr&#xe9;dito del Per&#xfa;</td><td>&#xa0;</td> <td style="text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">US$</td><td>&#xa0;</td> <td style="text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">3.23</td><td>&#xa0;</td> <td style="text-align: center">August 14, 2020</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">4,864</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -7.65pt; padding-left: 7.65pt">Banco de Cr&#xe9;dito del Per&#xfa;</td><td>&#xa0;</td> <td style="text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">US$</td><td>&#xa0;</td> <td style="text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">3.16</td><td>&#xa0;</td> <td style="text-align: center">October 9, 2020</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">16,867</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -7.65pt; padding-left: 7.65pt">Scotiabank Per&#xfa; S.A.A.</td><td>&#xa0;</td> <td style="text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">US$</td><td>&#xa0;</td> <td style="text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">3.00</td><td>&#xa0;</td> <td style="text-align: center">October 10, 2020</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">43,121</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -7.65pt; padding-left: 7.65pt">Scotiabank Per&#xfa; S.A.A.</td><td>&#xa0;</td> <td style="text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">US$</td><td>&#xa0;</td> <td style="text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">2.35</td><td>&#xa0;</td> <td style="text-align: center">November 27, 2020</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">6,633</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -7.65pt; padding-left: 7.65pt">Banco de Cr&#xe9;dito del Per&#xfa;</td><td>&#xa0;</td> <td style="text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">US$</td><td>&#xa0;</td> <td style="text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">3.43</td><td>&#xa0;</td> <td style="text-align: center">April 15, 2019</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">16,895</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; text-align: left; text-indent: -7.65pt; padding-left: 7.65pt">Scotiabank Per&#xfa; S.A.A.</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="padding-bottom: 1.5pt; text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">US$</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="padding-bottom: 1.5pt; text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">3.40</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="padding-bottom: 1.5pt; text-align: center">October 10, 2019</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">43,927</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td>&#xa0;</td><td>&#xa0;</td> <td>&#xa0;</td><td>&#xa0;</td> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; 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text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -7.65pt; padding-left: 7.65pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; text-indent: -7.65pt; padding-left: 7.65pt">Senior Notes </td><td>&#xa0;</td> <td style="text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -7.65pt; padding-left: 7.65pt">Principal, net of issuance costs</td><td>&#xa0;</td> <td style="text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">US$</td><td>&#xa0;</td> <td style="text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">4.50</td><td>&#xa0;</td> <td style="text-align: center">February 8, 2023</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">434,380</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">441,786</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -7.65pt; padding-left: 7.65pt">Principal, net of issuance costs</td><td>&#xa0;</td> <td style="text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">S/</td><td>&#xa0;</td> <td style="text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">6.69</td><td>&#xa0;</td> <td style="text-align: center">February 1, 2029</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">259,440</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -7.65pt; padding-left: 7.65pt">Principal, net of issuance costs</td><td>&#xa0;</td> <td style="text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">S/</td><td>&#xa0;</td> <td style="text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">6.84</td><td>&#xa0;</td> <td style="text-align: center">February 1, 2034</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">309,310</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -7.65pt; padding-left: 7.65pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; text-indent: -7.65pt; padding-left: 7.65pt">Mid-term promissory notes (bridge loans)</td><td>&#xa0;</td> <td style="text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -7.65pt; padding-left: 7.65pt">Banco de Cr&#xe9;dito del Per&#xfa;</td><td>&#xa0;</td> <td style="text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">S/</td><td>&#xa0;</td> <td style="text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">5.70</td><td>&#xa0;</td> <td style="text-align: center">-</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">169,000</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; text-align: left; text-indent: -7.65pt; padding-left: 7.65pt">Banco de Cr&#xe9;dito del Per&#xfa;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="padding-bottom: 1.5pt; text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">S/</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="padding-bottom: 1.5pt; text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">5.70</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="padding-bottom: 1.5pt; text-align: center">-</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">411,769</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>&#xa0;</td><td>&#xa0;</td> <td>&#xa0;</td><td>&#xa0;</td> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left; text-indent: -7.65pt; padding-left: 7.65pt">Total non-current</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="padding-bottom: 4pt; text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="padding-bottom: 4pt; text-align: center; text-indent: -10.35pt; padding-left: 10.35pt">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="padding-bottom: 4pt; text-align: center">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">1,003,130</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">1,022,555</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; 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text-indent: -10.35pt; padding-left: 10.35pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,003,130</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,022,555</td><td style="text-align: left">&#xa0;</td></tr> </table> US$ 0.0270 May 8, 2020 8293000 S/ 0.0464 June 18, 2020 13689000 US$ 0.0336 August 6, 2020 5307000 US$ 0.0323 August 14, 2020 4864000 US$ 0.0316 October 9, 2020 16867000 US$ 0.0300 October 10, 2020 43121000 US$ 0.0235 November 27, 2020 6633000 US$ 0.0343 April 15, 2019 16895000 US$ 0.0340 October 10, 2019 43927000 98774000 60822000 US$ 0.0450 February 8, 2023 434380000 441786000 S/ 0.0669 February 1, 2029 259440000 S/ 0.0684 February 1, 2034 309310000 S/ 0.0570 169000000 S/ 0.0570 411769000 1003130000 1022555000 98774000 60822000 1003130000 1022555000 <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; 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text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">137</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">137</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">1,895</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">2,032</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> </tr> <tr style="font-size: 8pt; 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text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">89</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">1,640</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; 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text-align: right;"><font style="font-size: 8pt;">2,665</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">2,665</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">(1,691</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">974</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> </tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: #cceeff;"> <td style="font-size: 8pt; text-align: left; text-indent: -7.65pt; padding-left: 7.65pt;"><font style="font-size: 8pt;">Effect of differences between book and tax bases of inventories.</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">922</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">922</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> </tr> <tr style="font-size: 8pt; vertical-align: bottom;"> <td style="font-size: 8pt; text-align: left; text-indent: -7.65pt; 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text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">69</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">763</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">832</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> </tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: #cceeff;"> <td style="font-size: 8pt; text-align: left; text-indent: -7.65pt; padding-left: 7.65pt;"><font style="font-size: 8pt;">Effect of differences between book and tax bases of fixed assets and in the depreciation rates used for book purposes</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">34</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">82</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">116</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">82</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">198</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> </tr> <tr style="font-size: 8pt; vertical-align: bottom;"> <td style="font-size: 8pt; padding-bottom: 1.5pt; padding-left: 5.35pt;"><font style="font-size: 8pt;">Other</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">28</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">(6</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; 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border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">22</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">367</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">389</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> </tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: #cceeff;"> <td style="font-size: 8pt; padding-bottom: 4pt; text-indent: -7.65pt; padding-left: 7.65pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 4pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right;"><font style="font-size: 8pt;">142</font></td> <td style="font-size: 8pt; padding-bottom: 4pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 4pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right;"><font style="font-size: 8pt;">2,956</font></td> <td style="font-size: 8pt; padding-bottom: 4pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 4pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 4pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 4pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 4pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 4pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 4pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 4pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right;"><font style="font-size: 8pt;">3,098</font></td> <td style="font-size: 8pt; padding-bottom: 4pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 4pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right;"><font style="font-size: 8pt;">6,592</font></td> <td style="font-size: 8pt; padding-bottom: 4pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 4pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 4pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 4pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right;"><font style="font-size: 8pt;">9,690</font></td> <td style="font-size: 8pt; padding-bottom: 4pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> </tr> <tr style="font-size: 8pt; vertical-align: bottom;"> <td style="font-size: 8pt; font-weight: bold; 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text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> </tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: #cceeff;"> <td style="font-size: 8pt; text-align: left; text-indent: -7.65pt; padding-left: 7.65pt;"><font style="font-size: 8pt;">Effect of differences between book and tax bases of fixed assets and in the depreciation rates used for book purposes</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">(2,259</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">(2,259</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> </tr> <tr style="font-size: 8pt; vertical-align: bottom;"> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-indent: -7.65pt; padding-left: 7.65pt;"><font style="font-size: 8pt;">Other</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">(12</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">(12</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> </tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: #cceeff;"> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-indent: -7.65pt; padding-left: 7.65pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">(2,271</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">(2,271</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> </tr> <tr style="font-size: 8pt; vertical-align: bottom;"> <td style="font-size: 8pt; font-weight: bold; text-align: left; padding-bottom: 1.5pt; text-indent: -7.65pt; padding-left: 7.65pt;"><font style="font-size: 8pt;">Total deferred income tax assets</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">142</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">2,956</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">3,098</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">4,321</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">7,419</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> </tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: #cceeff;"> <td style="font-size: 8pt; padding-left: 5.35pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> </tr> <tr style="font-size: 8pt; vertical-align: bottom;"> <td style="font-size: 8pt; font-weight: bold; text-align: left; text-indent: -7.65pt; padding-left: 7.65pt;"><font style="font-size: 8pt;">Movement of deferred income tax liabilities:</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> </tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: #cceeff;"> <td style="font-size: 8pt; font-weight: bold; text-align: left; text-indent: -7.65pt; padding-left: 7.65pt;"><font style="font-size: 8pt;">Deferred income tax assets</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; 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text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">17,087</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; 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text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">7,646</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">(523</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">7,123</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> </tr> <tr style="font-size: 8pt; vertical-align: bottom;"> <td style="font-size: 8pt; text-align: left; text-indent: -7.65pt; padding-left: 7.65pt;"><font style="font-size: 8pt;">Provision for spare parts and supplies obsolescence</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">3,192</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">1,039</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">4,231</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">732</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">4,963</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> </tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: #cceeff;"> <td style="font-size: 8pt; text-align: left; text-indent: -7.65pt; padding-left: 7.65pt;"><font style="font-size: 8pt;">Provision for vacations</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">3,829</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">296</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">4,125</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">(1,054</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">3,071</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> </tr> <tr style="font-size: 8pt; vertical-align: bottom;"> <td style="font-size: 8pt; text-align: left; text-indent: -7.65pt; 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text-align: right;"><font style="font-size: 8pt;">10,620</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">(8,109</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; 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text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">489</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">107</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; 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text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">(495</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">101</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> </tr> <tr style="font-size: 8pt; vertical-align: bottom;"> <td style="font-size: 8pt; text-align: left; text-indent: -7.65pt; padding-left: 7.65pt;"><font style="font-size: 8pt;">Effect of differences between book and tax bases of inventories</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">922</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">922</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">(922</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> </tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: #cceeff;"> <td style="font-size: 8pt; text-indent: -7.65pt; padding-left: 7.65pt;"><font style="font-size: 8pt;">Provision of discounts</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">1,093</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">(99</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">994</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">(994</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> </tr> <tr style="font-size: 8pt; vertical-align: bottom;"> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-indent: -7.65pt; padding-left: 7.65pt;"><font style="font-size: 8pt;">Other</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">1,441</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">180</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">1,621</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">(1,272</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">349</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> </tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: #cceeff;"> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-indent: -7.65pt; padding-left: 7.65pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">47,053</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">2,358</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">(2,253</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">922</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">48,080</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">(12,336</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">879</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">36,623</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> </tr> <tr style="font-size: 8pt; vertical-align: bottom;"> <td style="font-size: 8pt; font-weight: bold; text-align: left; text-indent: -7.65pt; padding-left: 7.65pt;"><font style="font-size: 8pt;">Deferred income tax liabilities</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> </tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: #cceeff;"> <td style="font-size: 8pt; text-align: left; text-indent: -7.65pt; padding-left: 7.65pt;"><font style="font-size: 8pt;">Effect of differences between book and tax bases of fixed assets and in the depreciation rates used for book purposes</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">(153,265</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">(12,101</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">(165,366</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">(12,082</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">(177,448</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> </tr> <tr style="font-size: 8pt; vertical-align: bottom;"> <td style="font-size: 8pt; text-align: left; text-indent: -7.65pt; padding-left: 7.65pt;"><font style="font-size: 8pt;">Net gain on cash flow hedge</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">(144</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">8,137</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">(11,612</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">(3,619</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">(354</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">754</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">(3,219</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> </tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: #cceeff;"> <td style="font-size: 8pt; text-align: left; text-indent: -7.65pt; padding-left: 7.65pt;"><font style="font-size: 8pt;">Effect of costs of issuance of senior notes</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">(2,422</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">1,558</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">(864</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">(146</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">(1,010</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> </tr> <tr style="font-size: 8pt; vertical-align: bottom;"> <td style="font-size: 8pt; text-align: left; text-indent: -7.65pt; padding-left: 7.65pt;"><font style="font-size: 8pt;">Financial instruments designated at fair value through OCI</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">(1,675</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">(1,675</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">1,675</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> </tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: #cceeff;"> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-indent: -7.65pt; padding-left: 7.65pt;"><font style="font-size: 8pt;">Other</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">(45</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">(45</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">(45</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> </tr> <tr style="font-size: 8pt; vertical-align: bottom;"> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-indent: -7.65pt; padding-left: 7.65pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">(155,876</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">(2,406</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">(13,287</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">(171,569</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">(12,582</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">2,429</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">(181,722</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> </tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: #cceeff;"> <td style="font-size: 8pt; font-weight: bold; text-align: left; padding-bottom: 4pt; text-indent: -7.65pt; padding-left: 7.65pt;"><font style="font-size: 8pt;">Total deferred income tax liabilities, net</font></td> <td style="font-size: 8pt; padding-bottom: 4pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right;"><font style="font-size: 8pt;">(108,823</font></td> <td style="font-size: 8pt; padding-bottom: 4pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt; padding-bottom: 4pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right;"><font style="font-size: 8pt;">(48</font></td> <td style="font-size: 8pt; padding-bottom: 4pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt; padding-bottom: 4pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right;"><font style="font-size: 8pt;">(13,287</font></td> <td style="font-size: 8pt; padding-bottom: 4pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt; padding-bottom: 4pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right;"><font style="font-size: 8pt;">(2,253</font></td> <td style="font-size: 8pt; padding-bottom: 4pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt; padding-bottom: 4pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right;"><font style="font-size: 8pt;">922</font></td> <td style="font-size: 8pt; padding-bottom: 4pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 4pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right;"><font style="font-size: 8pt;">(123,489</font></td> <td style="font-size: 8pt; padding-bottom: 4pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt; padding-bottom: 4pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right;"><font style="font-size: 8pt;">(24,918</font></td> <td style="font-size: 8pt; padding-bottom: 4pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt; padding-bottom: 4pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right;"><font style="font-size: 8pt;">3,308</font></td> <td style="font-size: 8pt; padding-bottom: 4pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 4pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right;"><font style="font-size: 8pt;">(145,099</font></td> <td style="font-size: 8pt; padding-bottom: 4pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> </tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">The Group offsets tax assets and liabilities if and only if it has a legally enforceable right to set off current tax assets and current tax liabilities and the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same tax authority.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">A reconciliation between tax expenses and the product of the accounting profit multiplied by Peruvian tax rate for the 2019, 2018 and 2017 is as follows:</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2017</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td>&#xa0;</td> <td colspan="2">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left; text-indent: -7.65pt; padding-left: 7.65pt">Profit before income tax from continuing operations</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">194,353</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">116,141</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">128,417</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -7.65pt; padding-left: 7.65pt">Loss before income tax from discontinued operations</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,305</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -7.65pt; padding-left: 7.65pt">Accounting profit before income tax</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">194,353</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">116,141</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">127,112</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -7.65pt; padding-left: 7.65pt">At statutory income tax rate of 29.5%</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(57,334</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(34,262</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(37,498</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -7.65pt; padding-left: 7.65pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; text-indent: -7.65pt; padding-left: 7.65pt">Permanent differences</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -7.65pt; padding-left: 7.65pt">Non-deductible expenses, net</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(4,181</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(6,546</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(8,776</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -7.65pt; padding-left: 7.65pt">Effect of tax-loss carry forward non-recognized</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(791</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(187</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(246</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -7.65pt; padding-left: 7.65pt">Dividends obtained from available-for-sale investments</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">39</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt; text-indent: -7.65pt; padding-left: 7.65pt">At the effective income tax rate of 32% in 2019 (2018: 35% and 2017: 37%)</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">(62,306</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">(40,995</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">(46,481</td><td style="padding-bottom: 4pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -7.65pt; padding-left: 7.65pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -7.65pt; padding-left: 7.65pt">Income tax from continuing operations</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(62,306</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(40,995</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(47,032</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -7.65pt; padding-left: 7.65pt">Income tax from discontinued operations</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">551</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -7.65pt; padding-left: 7.65pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt; text-indent: -7.65pt; padding-left: 7.65pt">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">(62,306</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">(40,995</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">(46,481</td><td style="padding-bottom: 4pt; text-align: left">)</td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">The income tax expenses shown for the years ended December 31, 2019, 2018 and 2017 are:</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2017</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Consolidated statement of profit or loss</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Current</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">(41,702</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">(42,959</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">(58,161</td><td style="width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt">Deferred</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(20,604</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,964</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">11,129</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt; text-indent: -7.65pt; padding-left: 7.65pt">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">(62,306</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">(40,995</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">(47,032</td><td style="padding-bottom: 4pt; text-align: left">)</td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">The income tax recorded directly to other comprehensive income represents a gain of S/3,308,000 for 2019, a loss of S/13,287,000 for 2018 and a gain of S/11,339,000 for 2017.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0in">Following is the composition of deferred income tax related to items recognized in OCI and equity during the year:</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2017</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Tax effect on unrealized gain (loss) on available-for-sale financial asset</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">2,554</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">(1,675</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">62</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Tax effect on unrealized gain (loss) on derivative financial asset</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">754</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(2,354</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">11,277</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -7.1pt; padding-left: 7.1pt">Transfer to profit or loss hedge derivate financial instruments which changed to a trading condition.</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(9,258</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt; text-indent: -7.65pt; padding-left: 7.65pt">Total deferred income tax in OCI</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">3,308</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">(13,287</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">11,339</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -7.1pt; padding-left: 7.1pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; text-indent: -7.1pt; padding-left: 7.1pt">Other</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(2,253</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,253</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt; text-indent: -7.65pt; padding-left: 7.65pt">Total deferred income tax in equity</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">-</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">(2,253</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">2,253</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; 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width: 1%;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; width: 1%; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; width: 6%; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; width: 1%; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; width: 1%;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; width: 1%; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; width: 6%; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; width: 1%; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; width: 1%;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; width: 1%; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; width: 6%; 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text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">137</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">137</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">1,895</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">2,032</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> </tr> <tr style="font-size: 8pt; 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text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">89</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">1,640</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; 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text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">2,665</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">(1,691</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; 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border-bottom: Black 4pt double; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right;"><font style="font-size: 8pt;">142</font></td> <td style="font-size: 8pt; padding-bottom: 4pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 4pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right;"><font style="font-size: 8pt;">2,956</font></td> <td style="font-size: 8pt; padding-bottom: 4pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 4pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; 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padding-bottom: 4pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 4pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right;"><font style="font-size: 8pt;">3,098</font></td> <td style="font-size: 8pt; padding-bottom: 4pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 4pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right;"><font style="font-size: 8pt;">6,592</font></td> <td style="font-size: 8pt; padding-bottom: 4pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 4pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 4pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 4pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right;"><font style="font-size: 8pt;">9,690</font></td> <td style="font-size: 8pt; padding-bottom: 4pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> </tr> <tr style="font-size: 8pt; vertical-align: bottom;"> <td style="font-size: 8pt; font-weight: bold; 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text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> </tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: #cceeff;"> <td style="font-size: 8pt; text-align: left; text-indent: -7.65pt; padding-left: 7.65pt;"><font style="font-size: 8pt;">Effect of differences between book and tax bases of fixed assets and in the depreciation rates used for book purposes</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">(2,259</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">(2,259</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> </tr> <tr style="font-size: 8pt; vertical-align: bottom;"> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-indent: -7.65pt; padding-left: 7.65pt;"><font style="font-size: 8pt;">Other</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">(12</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">(12</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> </tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: #cceeff;"> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-indent: -7.65pt; padding-left: 7.65pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">(2,271</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">(2,271</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> </tr> <tr style="font-size: 8pt; vertical-align: bottom;"> <td style="font-size: 8pt; font-weight: bold; text-align: left; padding-bottom: 1.5pt; text-indent: -7.65pt; padding-left: 7.65pt;"><font style="font-size: 8pt;">Total deferred income tax assets</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">142</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">2,956</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">3,098</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">4,321</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">7,419</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> </tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: #cceeff;"> <td style="font-size: 8pt; padding-left: 5.35pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; 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text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; 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text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> </tr> <tr style="font-size: 8pt; vertical-align: bottom;"> <td style="font-size: 8pt; text-align: left; text-indent: -7.65pt; 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text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">17,087</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">17,087</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> </tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: #cceeff;"> <td style="font-size: 8pt; text-align: left; text-indent: -7.65pt; padding-left: 7.65pt;"><font style="font-size: 8pt;">Impairment of mining assets</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">8,217</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">(571</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">7,646</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">(523</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">7,123</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> </tr> <tr style="font-size: 8pt; vertical-align: bottom;"> <td style="font-size: 8pt; text-align: left; text-indent: -7.65pt; padding-left: 7.65pt;"><font style="font-size: 8pt;">Provision for spare parts and supplies obsolescence</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">3,192</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">1,039</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">4,231</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">732</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">4,963</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> </tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: #cceeff;"> <td style="font-size: 8pt; text-align: left; text-indent: -7.65pt; padding-left: 7.65pt;"><font style="font-size: 8pt;">Provision for vacations</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">3,829</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">296</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">4,125</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">(1,054</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">3,071</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> </tr> <tr style="font-size: 8pt; vertical-align: bottom;"> <td style="font-size: 8pt; text-align: left; text-indent: -7.65pt; 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text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">10,620</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">(8,109</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">2,511</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> </tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: #cceeff;"> <td style="font-size: 8pt; text-align: left; text-indent: -7.65pt; padding-left: 7.65pt;"><font style="font-size: 8pt;">Financial instruments designated at fair value through OCI</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">2,253</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">(2,253</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">879</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">879</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> </tr> <tr style="font-size: 8pt; vertical-align: bottom;"> <td style="font-size: 8pt; text-align: left; text-indent: -7.65pt; padding-left: 7.65pt;"><font style="font-size: 8pt;">Rehabilitation provision</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">507</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">(269</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">238</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">301</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">539</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> </tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: #cceeff;"> <td style="font-size: 8pt; text-align: left; text-indent: -7.65pt; padding-left: 7.65pt;"><font style="font-size: 8pt;">Allowance for expected credit losses for trade receivables</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">489</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">107</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">596</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">(495</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">101</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> </tr> <tr style="font-size: 8pt; vertical-align: bottom;"> <td style="font-size: 8pt; text-align: left; text-indent: -7.65pt; padding-left: 7.65pt;"><font style="font-size: 8pt;">Effect of differences between book and tax bases of inventories</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">922</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">922</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">(922</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> </tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: #cceeff;"> <td style="font-size: 8pt; text-indent: -7.65pt; padding-left: 7.65pt;"><font style="font-size: 8pt;">Provision of discounts</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">1,093</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">(99</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">994</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">(994</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> </tr> <tr style="font-size: 8pt; vertical-align: bottom;"> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-indent: -7.65pt; padding-left: 7.65pt;"><font style="font-size: 8pt;">Other</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">1,441</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">180</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">1,621</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">(1,272</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">349</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> </tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: #cceeff;"> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-indent: -7.65pt; padding-left: 7.65pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">47,053</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">2,358</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">(2,253</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">922</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">48,080</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">(12,336</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">879</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">36,623</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> </tr> <tr style="font-size: 8pt; vertical-align: bottom;"> <td style="font-size: 8pt; font-weight: bold; text-align: left; text-indent: -7.65pt; padding-left: 7.65pt;"><font style="font-size: 8pt;">Deferred income tax liabilities</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> </tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: #cceeff;"> <td style="font-size: 8pt; text-align: left; text-indent: -7.65pt; padding-left: 7.65pt;"><font style="font-size: 8pt;">Effect of differences between book and tax bases of fixed assets and in the depreciation rates used for book purposes</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">(153,265</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">(12,101</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">(165,366</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">(12,082</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">(177,448</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> </tr> <tr style="font-size: 8pt; vertical-align: bottom;"> <td style="font-size: 8pt; text-align: left; text-indent: -7.65pt; padding-left: 7.65pt;"><font style="font-size: 8pt;">Net gain on cash flow hedge</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">(144</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">8,137</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">(11,612</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">(3,619</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">(354</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">754</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">(3,219</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> </tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: #cceeff;"> <td style="font-size: 8pt; text-align: left; text-indent: -7.65pt; padding-left: 7.65pt;"><font style="font-size: 8pt;">Effect of costs of issuance of senior notes</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">(2,422</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">1,558</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">(864</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">(146</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">(1,010</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> </tr> <tr style="font-size: 8pt; vertical-align: bottom;"> <td style="font-size: 8pt; text-align: left; text-indent: -7.65pt; padding-left: 7.65pt;"><font style="font-size: 8pt;">Financial instruments designated at fair value through OCI</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">(1,675</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">(1,675</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">1,675</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> </tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: #cceeff;"> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-indent: -7.65pt; padding-left: 7.65pt;"><font style="font-size: 8pt;">Other</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">(45</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">(45</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">(45</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> </tr> <tr style="font-size: 8pt; vertical-align: bottom;"> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-indent: -7.65pt; padding-left: 7.65pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">(155,876</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">(2,406</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">(13,287</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">-</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">(171,569</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">(12,582</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">2,429</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right;"><font style="font-size: 8pt;">(181,722</font></td> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> </tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: #cceeff;"> <td style="font-size: 8pt; font-weight: bold; text-align: left; padding-bottom: 4pt; text-indent: -7.65pt; padding-left: 7.65pt;"><font style="font-size: 8pt;">Total deferred income tax liabilities, net</font></td> <td style="font-size: 8pt; padding-bottom: 4pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right;"><font style="font-size: 8pt;">(108,823</font></td> <td style="font-size: 8pt; padding-bottom: 4pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt; padding-bottom: 4pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right;"><font style="font-size: 8pt;">(48</font></td> <td style="font-size: 8pt; padding-bottom: 4pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt; padding-bottom: 4pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right;"><font style="font-size: 8pt;">(13,287</font></td> <td style="font-size: 8pt; padding-bottom: 4pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt; padding-bottom: 4pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right;"><font style="font-size: 8pt;">(2,253</font></td> <td style="font-size: 8pt; padding-bottom: 4pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt; padding-bottom: 4pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right;"><font style="font-size: 8pt;">922</font></td> <td style="font-size: 8pt; padding-bottom: 4pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 4pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right;"><font style="font-size: 8pt;">(123,489</font></td> <td style="font-size: 8pt; padding-bottom: 4pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt; padding-bottom: 4pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right;"><font style="font-size: 8pt;">(24,918</font></td> <td style="font-size: 8pt; padding-bottom: 4pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> <td style="font-size: 8pt; padding-bottom: 4pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right;"><font style="font-size: 8pt;">3,308</font></td> <td style="font-size: 8pt; padding-bottom: 4pt; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; padding-bottom: 4pt;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left;"><font style="font-size: 8pt;">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right;"><font style="font-size: 8pt;">(145,099</font></td> <td style="font-size: 8pt; padding-bottom: 4pt; text-align: left;"><font style="font-size: 8pt;">)</font></td> </tr> </table> 2614000 2614000 137000 137000 1895000 2032000 76000 13000 89000 1640000 1729000 2665000 2665000 -1691000 974000 922000 922000 4000 65000 69000 763000 832000 34000 82000 116000 82000 198000 28000 -6000 22000 367000 389000 142000 2956000 3098000 6592000 9690000 -2259000 -2259000 -12000 -12000 -2271000 -2271000 142000 2956000 3098000 4321000 7419000 17087000 17087000 17087000 8217000 -571000 7646000 -523000 7123000 3192000 1039000 4231000 732000 4963000 3829000 296000 4125000 -1054000 3071000 8945000 1675000 10620000 -8109000 2511000 2253000 -2253000 879000 879000 507000 -269000 238000 301000 539000 489000 107000 596000 -495000 101000 922000 922000 -922000 1093000 -99000 994000 -994000 1441000 180000 1621000 -1272000 349000 47053000 2358000 -2253000 922000 48080000 -12336000 879000 36623000 -153265000 -12101000 -165366000 -12082000 -177448000 -144000 8137000 -11612000 -3619000 -354000 754000 -3219000 -2422000 1558000 -864000 -146000 -1010000 -1675000 -1675000 1675000 -45000 -45000 -45000 -155876000 -2406000 -13287000 -171569000 -12582000 2429000 -181722000 -108823000 -48000 -13287000 -2253000 922000 -123489000 -24918000 3308000 -145099000 <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; 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text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,305</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -7.65pt; padding-left: 7.65pt">Accounting profit before income tax</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">194,353</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">116,141</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">127,112</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -7.65pt; padding-left: 7.65pt">At statutory income tax rate of 29.5%</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(57,334</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(34,262</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(37,498</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -7.65pt; padding-left: 7.65pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; text-indent: -7.65pt; padding-left: 7.65pt">Permanent differences</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; 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padding-left: 7.65pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -7.65pt; padding-left: 7.65pt">Income tax from continuing operations</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(62,306</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(40,995</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(47,032</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -7.65pt; padding-left: 7.65pt">Income tax from discontinued operations</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">551</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -7.65pt; padding-left: 7.65pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt; text-indent: -7.65pt; padding-left: 7.65pt">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">(62,306</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">(40,995</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">(46,481</td><td style="padding-bottom: 4pt; text-align: left">)</td></tr> </table> -1305000 -57334000 -34262000 -37498000 4181000 6546000 8776000 -791000 -187000 -246000 39000 -62306000 -40995000 -46481000 -62306000 -40995000 -47032000 551000 -62306000 -40995000 -46481000 0.295 0.32 0.35 0.37 <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2017</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Consolidated statement of profit or loss</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Current</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">(41,702</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">(42,959</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">(58,161</td><td style="width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt">Deferred</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(20,604</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,964</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">11,129</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt; text-indent: -7.65pt; padding-left: 7.65pt">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">(62,306</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">(40,995</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">(47,032</td><td style="padding-bottom: 4pt; text-align: left">)</td></tr> </table> -41702000 -42959000 -58161000 -20604000 1964000 11129000 <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2017</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Tax effect on unrealized gain (loss) on available-for-sale financial asset</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">2,554</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">(1,675</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">62</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Tax effect on unrealized gain (loss) on derivative financial asset</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">754</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(2,354</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">11,277</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -7.1pt; padding-left: 7.1pt">Transfer to profit or loss hedge derivate financial instruments which changed to a trading condition.</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(9,258</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt; text-indent: -7.65pt; padding-left: 7.65pt">Total deferred income tax in OCI</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">3,308</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">(13,287</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">11,339</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -7.1pt; padding-left: 7.1pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; text-indent: -7.1pt; padding-left: 7.1pt">Other</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(2,253</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,253</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt; text-indent: -7.65pt; padding-left: 7.65pt">Total deferred income tax in equity</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">-</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">(2,253</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">2,253</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table> 2554000 -1675000 62000 754000 -2354000 11277000 -9258000 2253000 -2253000 -2253000 2253000 <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.5in; text-align: left">17.</td><td>Equity</td> </tr></table><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in">(a)</td><td>Capital stock -</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">As of December 31, 2019 and 2018, share capital was represented by 423,868,449 authorized common shares subscribed and fully paid, with a nominal value of one sol per share. As of December 31, 2019 from the total outstanding common shares, 31,066,186 were listed on the New York Stock Exchange and 392,802,263 in the Lima Stock Exchange. As of December 31, 2018, 60,577,811 common shares were listed on the New York Stock Exchange and 363,290,638 common shares were listed on the Lima Stock Exchange.</p><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in">(b)</td><td>Investment shares -</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0in">Investment shares do not have voting rights or participate in shareholder&#x2019;s meetings or the appointment of directors or officers of the Company. Investment shares confer upon the holders thereof the right to participate in dividends distributed according to their nominal value, in the same manner as common shares. Investment shares also confer the holders thereof the right to:</p><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1in"></td><td style="width: 0.5in">(i)</td><td>maintain the current proportion of the investment shares in the case of capital increase by new contributions;</td></tr></table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1in"></td><td style="width: 0.5in">(ii)</td><td>increase the number of investment shares upon capitalization of retained earnings, revaluation surplus or other reserves that do not represent cash contributions;</td></tr></table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1in"></td><td style="width: 0.5in">(iii)</td><td>participate in the distribution of the assets resulting from liquidation of the Company in the same manner as common shares; and,</td></tr></table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1in"></td><td style="width: 0.5in">(iv)</td><td>redeem the investment shares in case of a merger and/or change of business activity of the Company.</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">As of December 31, 2019 and 2018, the Company had 40,278,894 investment shares subscribed and fully paid, with a nominal value of one sol per share.</p><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in">(c)</td><td>Treasury shares -</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">As of December 31, 2019 and 2018, the Company maintained 36,040,497 investment shares held in treasury amounting to S/121,258,000.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0in">In January 2017 and October 2015, the Company acquired 7,911,845 and 37,276,580 investment shares for S/34,216,000 and S/108,248,000, respectively. In March 2017, as a result of the execution of the spin-off project described in note 1.2, the Company obtained 9,148,373 of its treasury investment shares, see note 9.</p><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in">(d)</td><td>Additional paid-in capital -</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in;">As of January 1, 2017, additional paid-in capital was represented mainly by S/545,165,000 obtained as a result of the issue of 111,484,000 common shares and 928,000 investment shares corresponding to a public offering of American Depositary Shares (ADS) listed on the New York Stock Exchange and Lima Stock Exchange in 2012. This amount corresponds to the excess of the total proceeds obtained by this transaction in relation to the nominal value of the listed shares.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">In March and December 2017, the Company recognized a debit for S/118,569,000 and a credit for S/6,759,000 in this caption as a result of the spin-off of the interest in Fosfatos del Pac&#xed;fico S.A. and the impairment of the brine project, respectively, see notes 1.2 and 1.3.</p><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in">(e)</td><td>Legal reserve -</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0in">Provisions of the Peruvian General Corporation Law require that a minimum of 10% of the distributable earnings for each period, after deducting the income tax, be transferred to a legal reserve until such is equal to 20% of the capital. This legal reserve can offset losses or can be capitalized, and in both cases, there is the obligation to replenish it.</p><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in">(f)</td><td>Other accumulated comprehensive results -<br/> This reserve records fair value changes on available-for-sale financial assets and the unrealized results on cash flow hedge.</td></tr></table><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in">(g)</td><td>Distributions made and proposed &#x2013;</td></tr></table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2017</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>Approval date in Board of Directors</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">November&#xa0;18, <br/> 2019</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">September&#xa0;21, <br/> 2018</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">October&#xa0;26, <br/> 2017</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Declared dividends per share to be paid in cash S/</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">0.36000</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">0.38000</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">0.35000</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Declared dividends S/(000):</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">154,119</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">161,396</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">149,837</td><td style="text-align: left">&#xa0;</td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">As of December 31, 2019 and 2018, dividends payable amounted to S/52,523,000 and S/19,331,000 respectively. During 2019 and 2017, in order to comply with Peruvian law, S/280,000 and S/189,000, respectively, corresponding to dividends payable with aging greater than ten years were transferred from &#x201c;Dividends payable&#x201d; to &#x201c;Legal reserve&#x201d; in the consolidated statement of changes in equity.</p><br/> 423868449 423868449 31066186 392802263 60577811 363290638 40278894 40278894 1 36040497 36040497 121258000 121258000 In January 2017 and October 2015, the Company acquired 7,911,845 and 37,276,580 investment shares for S/34,216,000 and S/108,248,000, respectively. In March 2017, as a result of the execution of the spin-off project described in note 1.2, the Company obtained 9,148,373 of its treasury investment shares, see note 9. 545165000 111484000 928000 In March and December 2017, the Company recognized a debit for S/118,569,000 and a credit for S/6,759,000 in this caption as a result of the spin-off of the interest in Fosfatos del Pac&#xed;fico S.A. and the impairment of the brine project, respectively, see notes 1.2 and 1.3. 0.10 0.20 52523000 19331000 During 2019 and 2017, in order to comply with Peruvian law, S/280,000 and S/189,000, respectively, corresponding to dividends payable with aging greater than ten years were transferred from &#x201c;Dividends payable&#x201d; to &#x201c;Legal reserve&#x201d; in the consolidated statement of changes in equity. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2017</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>Approval date in Board of Directors</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">November&#xa0;18, <br/> 2019</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">September&#xa0;21, <br/> 2018</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">October&#xa0;26, <br/> 2017</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Declared dividends per share to be paid in cash S/</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">0.36000</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">0.38000</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">0.35000</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Declared dividends S/(000):</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">154,119</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">161,396</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">149,837</td><td style="text-align: left">&#xa0;</td></tr> </table> 2019-11-18 2018-09-21 2017-10-26 360.00 380.00 350.00 <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.5in; text-align: left">18.</td><td>Sales of goods</td> </tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">This item comprised the following:</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="26" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As of December 31, 2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Cement</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Concrete</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Precast</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Quicklime</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Construction supplies</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Other</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Segments</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; 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text-align: right">-</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 7%; text-align: right">-</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 7%; text-align: right">1,289,034</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -6.3pt; padding-left: 6.3pt">Sale of construction supplies</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">67,225</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">67,225</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -6.3pt; padding-left: 6.3pt">Sale of quicklime</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">36,109</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">36,109</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Sale of other</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">333</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">333</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">1,065,857</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">197,268</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">25,909</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">36,109</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">67,225</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">333</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">1,392,701</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; text-indent: -6.3pt; padding-left: 6.3pt">Moment of the revenue recognition</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt">Goods transferred at a point in time</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,065,857</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">197,268</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">25,909</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">36,109</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">67,225</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">333</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,392,701</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> </table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="26" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As of December 31, 2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Cement</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Concrete</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Precast</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Quicklime</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Construction supplies</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Other</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Segments</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 30%; text-align: left; text-indent: -6.3pt; padding-left: 6.3pt">Sale of cement, concrete and precast</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 7%; text-align: right">975,577</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 7%; text-align: right">136,705</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 7%; text-align: right">22,414</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 7%; text-align: right">-</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 7%; text-align: right">-</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 7%; text-align: right">-</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 7%; text-align: right">1,134,696</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -6.3pt; padding-left: 6.3pt">Sale of construction supplies</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">68,982</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">68,982</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -6.3pt; padding-left: 6.3pt">Sale of quicklime</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">57,564</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">57,564</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; padding-left: 5.35pt">Sale of other</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,692</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,692</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.35pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt; padding-left: 5.35pt">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">975,577</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">136,705</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">22,414</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">57,564</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">68,982</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">1,692</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">1,262,934</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-left: 5.35pt">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; text-indent: -6.3pt; padding-left: 6.3pt">Moment of the revenue recognition</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt">Goods transferred at a point in time</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">975,577</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">136,705</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">22,414</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">57,564</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">68,982</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,692</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,262,934</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> </table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="26" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As of December 31, 2017</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Cement</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Concrete</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Precast</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Quicklime</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Construction supplies</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Other</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Segments</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 30%; text-align: left; text-indent: -6.3pt; padding-left: 6.3pt">Sale of cement, concrete and precast</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 7%; text-align: right">944,091</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left"></td><td style="width: 7%; text-align: right">110,202</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left"></td><td style="width: 7%; text-align: right">17,466</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left"></td><td style="width: 7%; text-align: right">-</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left"></td><td style="width: 7%; text-align: right">-</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 7%; text-align: right">-</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 7%; text-align: right">1,071,759</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -6.3pt; padding-left: 6.3pt">Sale of construction supplies</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">66,442</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">66,442</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -6.3pt; padding-left: 6.3pt">Sale of quicklime</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">80,707</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">80,707</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt">Sale of other</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,842</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,842</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">944,091</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">110,202</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">17,466</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">80,707</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">66,442</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">1,842</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">1,220,750</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; text-indent: -6.3pt; padding-left: 6.3pt">Moment of the revenue recognition</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt">Goods transferred at a point in time</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">944,091</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">110,202</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">17,466</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">80,707</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">66,442</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,842</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,220,750</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">For all segments, performance obligations are met at the time of delivery of the goods and the terms of payment are usually between 30 and 90 days from the date of delivery.</p><br/> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="26" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As of December 31, 2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Cement</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Concrete</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Precast</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Quicklime</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Construction supplies</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Other</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Segments</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 30%; text-align: left; text-indent: -6.3pt; padding-left: 6.3pt">Sale of cement, concrete and precast</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 7%; text-align: right">1,065,857</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 7%; text-align: right">197,268</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 7%; text-align: right">25,909</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 7%; text-align: right">-</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 7%; text-align: right">-</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 7%; text-align: right">-</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 7%; text-align: right">1,289,034</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -6.3pt; padding-left: 6.3pt">Sale of construction supplies</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">67,225</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">67,225</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -6.3pt; padding-left: 6.3pt">Sale of quicklime</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">36,109</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">36,109</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Sale of other</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">333</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">333</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">1,065,857</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">197,268</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">25,909</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">36,109</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">67,225</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">333</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">1,392,701</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; text-indent: -6.3pt; padding-left: 6.3pt">Moment of the revenue recognition</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt">Goods transferred at a point in time</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,065,857</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">197,268</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">25,909</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">36,109</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">67,225</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">333</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,392,701</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="26" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As of December 31, 2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Cement</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Concrete</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Precast</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Quicklime</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Construction supplies</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Other</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Segments</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 30%; text-align: left; text-indent: -6.3pt; padding-left: 6.3pt">Sale of cement, concrete and precast</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 7%; text-align: right">975,577</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 7%; text-align: right">136,705</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 7%; text-align: right">22,414</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 7%; text-align: right">-</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 7%; text-align: right">-</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 7%; text-align: right">-</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 7%; text-align: right">1,134,696</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -6.3pt; padding-left: 6.3pt">Sale of construction supplies</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">68,982</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">68,982</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -6.3pt; padding-left: 6.3pt">Sale of quicklime</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">57,564</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">57,564</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; padding-left: 5.35pt">Sale of other</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,692</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,692</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.35pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt; padding-left: 5.35pt">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">975,577</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">136,705</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">22,414</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">57,564</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">68,982</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">1,692</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">1,262,934</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-left: 5.35pt">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; text-indent: -6.3pt; padding-left: 6.3pt">Moment of the revenue recognition</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt">Goods transferred at a point in time</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">975,577</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">136,705</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">22,414</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">57,564</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">68,982</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,692</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,262,934</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="26" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As of December 31, 2017</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Cement</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Concrete</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Precast</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Quicklime</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Construction supplies</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Other</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Segments</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 30%; text-align: left; text-indent: -6.3pt; padding-left: 6.3pt">Sale of cement, concrete and precast</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 7%; text-align: right">944,091</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left"></td><td style="width: 7%; text-align: right">110,202</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left"></td><td style="width: 7%; text-align: right">17,466</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left"></td><td style="width: 7%; text-align: right">-</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left"></td><td style="width: 7%; text-align: right">-</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 7%; text-align: right">-</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 7%; text-align: right">1,071,759</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -6.3pt; padding-left: 6.3pt">Sale of construction supplies</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">66,442</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">66,442</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -6.3pt; padding-left: 6.3pt">Sale of quicklime</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">80,707</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">80,707</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt">Sale of other</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,842</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,842</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">944,091</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">110,202</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">17,466</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">80,707</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">66,442</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">1,842</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">1,220,750</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; text-indent: -6.3pt; padding-left: 6.3pt">Moment of the revenue recognition</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt">Goods transferred at a point in time</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">944,091</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">110,202</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">17,466</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">80,707</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">66,442</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,842</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,220,750</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> </table> 1065857000 197268000 25909000 1289034000 67225000 67225000 36109000 36109000 333000 333000 1065857000 197268000 25909000 36109000 67225000 333000 1392701000 1065857000 197268000 25909000 36109000 67225000 333000 1392701000 975577000 136705000 22414000 1134696000 68982000 68982000 57564000 57564000 1692000 1692000 975577000 136705000 22414000 57564000 68982000 1692000 1262934000 975577000 136705000 22414000 57564000 68982000 1692000 1262934000 944091000 110202000 17466000 1071759000 66442000 66442000 80707000 80707000 1842000 1842000 944091000 110202000 17466000 80707000 66442000 1842000 1220750000 944091000 110202000 17466000 80707000 66442000 1842000 1220750000 <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.5in; text-align: left">19.</td><td>Cost of sales</td> </tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; text-align: left; margin-top: 0; margin-bottom: 0">This item comprised the following:</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2017</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Beginning balance of goods and finished products, note 8(a)</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">16,832</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">27,386</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">21,427</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Beginning balance of work in progress, note 8(a)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">133,972</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">105,882</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">107,882</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Consumption of miscellaneous supplies</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">307,057</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">265,576</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">232,840</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Maintenance and third-party services</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">225,467</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">181,128</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">167,735</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Depreciation and amortization</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">115,245</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">117,273</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">109,262</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Shipping costs</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">123,989</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">107,221</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">103,928</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Personnel expenses, note 22(b)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">101,185</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">84,190</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">76,523</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td>Costs of packaging</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">44,416</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">38,483</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">32,011</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Other manufacturing expenses</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">26,775</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">19,871</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">14,616</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Ending balance of goods and finished products, note 8(a)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(22,133</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(16,832</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(27,386</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Ending balance of work in progress, note 8(a)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(166,999</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(133,972</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(105,882</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">905,806</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">796,206</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">732,956</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table><br/> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2017</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Beginning balance of goods and finished products, note 8(a)</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">16,832</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">27,386</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">21,427</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Beginning balance of work in progress, note 8(a)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">133,972</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">105,882</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">107,882</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Consumption of miscellaneous supplies</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">307,057</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">265,576</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">232,840</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Maintenance and third-party services</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">225,467</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">181,128</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">167,735</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Depreciation and amortization</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">115,245</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">117,273</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">109,262</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Shipping costs</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">123,989</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">107,221</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">103,928</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Personnel expenses, note 22(b)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">101,185</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">84,190</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">76,523</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td>Costs of packaging</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">44,416</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">38,483</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">32,011</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Other manufacturing expenses</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">26,775</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">19,871</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">14,616</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Ending balance of goods and finished products, note 8(a)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(22,133</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(16,832</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(27,386</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Ending balance of work in progress, note 8(a)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(166,999</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(133,972</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(105,882</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">905,806</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">796,206</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">732,956</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table> 27386000 21427000 133972000 105882000 107882000 307057000 265576000 232840000 225467000 181128000 167735000 115245000 117273000 109262000 123989000 107221000 103928000 101185000 84190000 76523000 44416000 38483000 32011000 26775000 19871000 14616000 166999000 <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.5in; text-align: left">20.</td><td>Administrative expenses</td> </tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; text-align: left; margin-top: 0; margin-bottom: 0">This item comprised the following:</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2017</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left; text-indent: -8.85pt; padding-left: 8.85pt">Personnel expenses, note 22(b)</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">84,359</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">84,660</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">94,437</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -8.85pt; padding-left: 8.85pt">Third-party services</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">52,974</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">51,553</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">65,435</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -8.85pt; padding-left: 8.85pt">Depreciation and amortization</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">14,573</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">12,046</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">14,949</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -8.85pt; padding-left: 8.85pt">Donations</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">8,796</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">9,934</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">7,305</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -8.85pt; padding-left: 8.85pt">Board of Directors compensation</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">6,696</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">6,815</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">6,555</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -8.85pt; padding-left: 8.85pt">Taxes</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">4,980</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">4,760</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">3,756</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -8.85pt; padding-left: 8.85pt">Consumption of supplies</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,671</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,826</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">2,743</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -8.85pt; padding-left: 8.85pt">Environmental expenditures, note 28</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">433</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">547</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">437</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt; text-indent: -8.85pt; padding-left: 8.85pt">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">174,482</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">172,141</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">195,617</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table><br/> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2017</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left; text-indent: -8.85pt; padding-left: 8.85pt">Personnel expenses, note 22(b)</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">84,359</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">84,660</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">94,437</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -8.85pt; padding-left: 8.85pt">Third-party services</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">52,974</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">51,553</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">65,435</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -8.85pt; padding-left: 8.85pt">Depreciation and amortization</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">14,573</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">12,046</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">14,949</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -8.85pt; padding-left: 8.85pt">Donations</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">8,796</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">9,934</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">7,305</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -8.85pt; padding-left: 8.85pt">Board of Directors compensation</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">6,696</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">6,815</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">6,555</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -8.85pt; padding-left: 8.85pt">Taxes</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">4,980</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">4,760</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">3,756</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -8.85pt; padding-left: 8.85pt">Consumption of supplies</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,671</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,826</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">2,743</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -8.85pt; padding-left: 8.85pt">Environmental expenditures, note 28</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">433</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">547</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">437</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt; text-indent: -8.85pt; padding-left: 8.85pt">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">174,482</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">172,141</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">195,617</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table> 84359000 84660000 94437000 52974000 51553000 65435000 14573000 12046000 14949000 8796000 9934000 7305000 6696000 6815000 6555000 4980000 4760000 3756000 1671000 1826000 2743000 433000 547000 437000 174482000 172141000 195617000 <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.5in; text-align: left">21.</td><td>Selling and distribution expenses</td> </tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">This item comprised the following:</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2017</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Personnel expenses, note 22(b)</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">26,818</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">21,707</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">17,982</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Third-party services</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">8,636</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">7,549</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">7,392</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Advertising and promotion</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">6,981</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">13,149</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">14,066</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Allowance for expected credit losses, note 7 (d)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,452</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">683</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,190</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Other</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">646</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,029</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,048</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">44,533</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">44,117</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">41,678</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table><br/> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2017</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Personnel expenses, note 22(b)</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">26,818</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">21,707</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">17,982</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Third-party services</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">8,636</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">7,549</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">7,392</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Advertising and promotion</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">6,981</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">13,149</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">14,066</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Allowance for expected credit losses, note 7 (d)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,452</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">683</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,190</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Other</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">646</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,029</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,048</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">44,533</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">44,117</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">41,678</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table> 26818000 21707000 17982000 8636000 7549000 7392000 6981000 13149000 14066000 1452000 683000 1190000 646000 1029000 1048000 <table cellpadding="0" cellspacing="0" width="100%" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.5in">22.</td><td>Employee benefits expenses</td></tr></table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left">(a)</td><td>Employee benefits expenses are made up as follow:</td> </tr></table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2017</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Wages and salaries</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">128,809</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">107,128</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">95,684</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Legal bonuses</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">16,837</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">15,156</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">14,133</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Vacations</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">15,461</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">14,305</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">12,572</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Workers&#x2018; profit sharing, note 14</p> </td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">15,169</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">15,712</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">21,554</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Social contributions</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">25,468</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">21,523</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">20,626</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Long-term compensation, note 14</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">6,523</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">9,495</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">11,401</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Cessation payments</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">2,044</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">3,524</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">9,201</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td>Training</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">860</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">2,344</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">2,557</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Others</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,191</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,370</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,214</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">212,362</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">190,557</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">188,942</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in">(b)</td><td>Employee benefits expenses are allocated as follows:</td></tr></table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2017</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Cost of sales, note 19</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">101,185</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">84,190</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">76,523</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Administrative expenses, note 20</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">84,359</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">84,660</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">94,437</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Selling and distribution expenses, note 21</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">26,818</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">21,707</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">17,982</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">212,362</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">190,557</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">188,942</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table><br/> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2017</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Wages and salaries</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">128,809</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">107,128</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">95,684</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Legal bonuses</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">16,837</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">15,156</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">14,133</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Vacations</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">15,461</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">14,305</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">12,572</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Workers&#x2018; profit sharing, note 14</p> </td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">15,169</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">15,712</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">21,554</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Social contributions</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">25,468</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">21,523</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">20,626</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Long-term compensation, note 14</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">6,523</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">9,495</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">11,401</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Cessation payments</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">2,044</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">3,524</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">9,201</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td>Training</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">860</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">2,344</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">2,557</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Others</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,191</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,370</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,214</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">212,362</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">190,557</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">188,942</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table> 128809000 107128000 95684000 16837000 15156000 14133000 15461000 14305000 12572000 15169000 15712000 21554000 25468000 21523000 20626000 2044000 3524000 9201000 860000 2344000 2557000 1191000 1370000 1214000 212362000 190557000 188942000 <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2017</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Cost of sales, note 19</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">101,185</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">84,190</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">76,523</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Administrative expenses, note 20</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">84,359</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">84,660</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">94,437</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Selling and distribution expenses, note 21</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">26,818</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">21,707</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">17,982</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">212,362</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">190,557</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">188,942</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.5in; text-align: left">23.</td><td>Other operating income (expense), net</td> </tr></table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left">(a)</td><td>This item comprised the following:</td> </tr></table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2017</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Income from management and administrative services provided to related parties, note 26</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">1,744</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">1,765</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">1,560</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Income from land rental and office lease, note 26</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">722</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">707</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">682</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -7.1pt; padding-left: 7.1pt">Recovery of expenses</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">525</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">534</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">796</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Changes in the estimation of rehabilitation provision, note 14</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">910</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Net gain (loss) on disposal of property, plant and equipment and intangible</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(1,846</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">4,599</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">42</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Write-off for disasters (b)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(357</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(784</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(9,688</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Allowance for expected credit losses, note 7(d)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(9,034</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Reconstruction of public road network destroyed by the Coastal El Ni&#xf1;o</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(5,675</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(1,209</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -7.1pt; padding-left: 7.1pt">Other minor, net</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,857</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,719</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,460</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -7.1pt; padding-left: 7.1pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt; text-indent: -7.1pt; padding-left: 7.1pt">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">2,645</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">(8,697</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">(4,357</td><td style="padding-bottom: 4pt; text-align: left">)</td></tr> </table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in">(b)</td><td>During the first quarter of 2017, Peru was affected by the natural phenomenon called Coastal El Ni&#xf1;o, which caused heavy rains, floods and mudslides in northern Peru. The economic losses associated with damage to inventories, machinery and equipment and cost overruns for damage to roads necessary for the distribution of merchandise to customers, which as of December 31, 2018 and 2017 amounted to S/784,000 and S/9,688,000 respectively, this amount is presented net of the compensation recognized by the insurance company.</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0in">Of the total amount recognized by the insurance company, S/231,000 pending collection as of December 31, 2019 (S/7,876,000 as of December 31,2018).</p><br/> 784000 231000 7876000 9688000 <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2017</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Income from management and administrative services provided to related parties, note 26</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">1,744</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">1,765</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">1,560</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Income from land rental and office lease, note 26</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">722</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">707</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">682</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -7.1pt; padding-left: 7.1pt">Recovery of expenses</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">525</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">534</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">796</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Changes in the estimation of rehabilitation provision, note 14</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">910</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Net gain (loss) on disposal of property, plant and equipment and intangible</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(1,846</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">4,599</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">42</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Write-off for disasters (b)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(357</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(784</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(9,688</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Allowance for expected credit losses, note 7(d)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(9,034</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Reconstruction of public road network destroyed by the Coastal El Ni&#xf1;o</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(5,675</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(1,209</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -7.1pt; padding-left: 7.1pt">Other minor, net</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,857</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,719</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,460</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -7.1pt; padding-left: 7.1pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt; text-indent: -7.1pt; padding-left: 7.1pt">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">2,645</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">(8,697</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">(4,357</td><td style="padding-bottom: 4pt; text-align: left">)</td></tr> </table> -1744000 -1765000 -1560000 722000 707000 682000 -525000 -534000 -796000 -910000 -1846000 4599000 42000 357000 9034000 5675000 1209000 -1857000 1719000 -3460000 2645000 -8697000 -4357000 <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.5in; text-align: left">24.</td><td>Finance income</td> </tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">This item comprised the following:</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2017</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td>&#xa0;</td> <td colspan="2">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Interest on term deposits</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">1,014</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">1,111</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">1,342</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Interest on accounts receivable</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">715</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">745</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">954</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Credit value adjust on cross currency swaps</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">99</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">3,307</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -7.1pt; padding-left: 7.1pt">Other finance income</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">748</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">511</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">239</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -7.1pt; padding-left: 7.1pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt; text-indent: -7.1pt; padding-left: 7.1pt">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">2,576</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">2,367</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">5,842</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table><br/> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2017</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td>&#xa0;</td> <td colspan="2">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Interest on term deposits</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">1,014</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">1,111</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">1,342</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Interest on accounts receivable</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">715</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">745</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">954</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Credit value adjust on cross currency swaps</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">99</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">3,307</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -7.1pt; padding-left: 7.1pt">Other finance income</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">748</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">511</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">239</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -7.1pt; padding-left: 7.1pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt; text-indent: -7.1pt; padding-left: 7.1pt">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">2,576</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">2,367</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">5,842</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table> 1014000 1111000 1342000 715000 745000 954000 -99000 -3307000 748000 511000 239000 2576000 2367000 5842000 <table cellpadding="0" cellspacing="0" width="100%" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.5in">25.</td><td>Finance costs</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; text-align: left; margin-top: 0; margin-bottom: 0">This item comprised the following:</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2017</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td>&#xa0;</td> <td colspan="2">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left; text-indent: -8.6pt; padding-left: 8.6pt">Interest on senior notes, note 15</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">56,081</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">45,380</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">45,358</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -8.6pt; padding-left: 8.6pt">Finance cost on cross currency swaps</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">14,958</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">26,185</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">26,140</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -8.6pt; padding-left: 8.6pt">Interest on promissory notes</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">5,537</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">2,505</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -8.6pt; padding-left: 8.6pt">Expenses for the purchase and amortization of issuance costs of senior notes</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">807</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">9,874</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,644</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -8.6pt; padding-left: 8.6pt">Counterparty credit risk in cross currency swaps</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">2,306</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; text-indent: -8.6pt; padding-left: 8.6pt">Other</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">145</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">321</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">95</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -8.6pt; padding-left: 8.6pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; text-indent: -8.6pt; padding-left: 8.6pt">Total interest expense</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">77,528</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">86,571</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">73,237</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -8.6pt; padding-left: 8.6pt">Unwinding of discount of provisions, note 14</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">458</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">767</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">522</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -8.6pt; padding-left: 8.6pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt; text-indent: -8.6pt; padding-left: 8.6pt">Total finance costs</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">77,986</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">87,338</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">73,759</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table><br/> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2017</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td>&#xa0;</td> <td colspan="2">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left; text-indent: -8.6pt; padding-left: 8.6pt">Interest on senior notes, note 15</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">56,081</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">45,380</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">45,358</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -8.6pt; padding-left: 8.6pt">Finance cost on cross currency swaps</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">14,958</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">26,185</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">26,140</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -8.6pt; padding-left: 8.6pt">Interest on promissory notes</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">5,537</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">2,505</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -8.6pt; padding-left: 8.6pt">Expenses for the purchase and amortization of issuance costs of senior notes</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">807</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">9,874</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,644</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -8.6pt; padding-left: 8.6pt">Counterparty credit risk in cross currency swaps</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">2,306</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; text-indent: -8.6pt; padding-left: 8.6pt">Other</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">145</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">321</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">95</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -8.6pt; padding-left: 8.6pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; text-indent: -8.6pt; padding-left: 8.6pt">Total interest expense</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">77,528</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">86,571</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">73,237</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -8.6pt; padding-left: 8.6pt">Unwinding of discount of provisions, note 14</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">458</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">767</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">522</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -8.6pt; padding-left: 8.6pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt; text-indent: -8.6pt; padding-left: 8.6pt">Total finance costs</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">77,986</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">87,338</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">73,759</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table> 56081000 45380000 45358000 14958000 26185000 26140000 5537000 2505000 807000 9874000 1644000 2306000 145000 321000 95000 77528000 86571000 73237000 -458000 -767000 -522000 77986000 87338000 73759000 <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.5in; text-align: left">26.</td><td>Related party disclosure</td> </tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">Transactions with related entities -</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">During 2019, 2018 and 2017, the Company carried out the following transactions with its parent company Inversiones ASPI S.A. and its affiliates:</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2017</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Income</td><td>&#xa0;</td> <td colspan="2">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>Inversiones ASPI S.A. (ASPI)</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left; text-indent: -7.1pt; padding-left: 15.85pt">Income from office lease</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">12</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">12</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">12</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -7.1pt; padding-left: 15.85pt">Fees for management and administrative services</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">544</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">548</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">595</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Compa&#xf1;&#xed;a Minera Ares S.A.C. (Ares)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: 1.65pt; padding-left: 7.1pt">Income from land lease, note 28</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">344</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">339</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">336</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 1.65pt; padding-left: 7.1pt">Income from office lease</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">323</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">318</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">315</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Fossal S.A.A.&#xa0;&#xa0;(Fossal)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 1.65pt; padding-left: 7.1pt">Income from office lease</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">15</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">12</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">16</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: 1.65pt; padding-left: 7.1pt">Fees for management and administrative services</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">40</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">42</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">46</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Fosfatos del Pac&#xed;fico S.A. (Fospac)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: 1.65pt; padding-left: 7.1pt">Income from office lease</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">28</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">26</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">40</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 1.65pt; padding-left: 7.1pt">Fees for management and administrative services</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,160</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,175</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">917</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-indent: -7.1pt; padding-left: 7.1pt">Expense</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Security services provided by Compa&#xf1;&#xed;a Minera Ares</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,989</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">2,059</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,195</td><td style="text-align: left">&#xa0;</td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0in">As a result of these transactions, the Company had the following rights and obligations as of December 31, 2019 and 2018:</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Accounts <br/> receivable</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Accounts <br/> payable</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Accounts <br/> receivable</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Accounts <br/> payable</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: left">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: left">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: left">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left; text-indent: -6.3pt; padding-left: 6.3pt">Fosfatos del Pac&#xed;fico S.A.</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">543</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">-</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">1,487</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">-</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -6.3pt; padding-left: 6.3pt">Inversiones ASPI S.A.</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">157</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,240</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -6.3pt; padding-left: 6.3pt">Compa&#xf1;&#xed;a Minera Ares S.A.C.</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">207</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,772</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">242</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">209</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; text-indent: -6.3pt; padding-left: 6.3pt">Otros</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">264</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">240</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -6.3pt; padding-left: 6.3pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt; text-indent: -6.3pt; padding-left: 6.3pt">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">1,171</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">1,772</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">3,209</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">209</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0in">Terms and conditions of transactions with related parties -</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0in">The sales to and purchases from related parties are made on terms equivalent to those that prevail in arm&#x2019;s length transactions. Outstanding balances with related parties at the year-end are unsecured and interest free and settlement occurs in cash. For the years ended December 31, 2019, 2018 and 2017, the Group did not record allowance for expected credit losses relating to amounts owed by related parties. This assessment is undertaken each financial year through examining the financial position of the related party and the market in which the related party operates.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0in">Compensation of key management personnel of the Group &#x2013;</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0in">The compensation paid to key management personnel includes expenses for profit-sharing, compensation and other concepts for members of the Board of Directors and the key management. As of December 31, 2019, the total short-term compensation amounted to S/23,692,000 (2018: S/24,129,000) and the total long-term compensation amounted to S/6,523,000 (2018: S/9,495,000), and there were no post-employment or contract termination benefits or share-payments.</p><br/> 23692000 24129000 <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: left">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2017</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Income</td><td>&#xa0;</td> <td colspan="2">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>Inversiones ASPI S.A. (ASPI)</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left; text-indent: -7.1pt; padding-left: 15.85pt">Income from office lease</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">12</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">12</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">12</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -7.1pt; padding-left: 15.85pt">Fees for management and administrative services</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">544</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">548</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">595</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Compa&#xf1;&#xed;a Minera Ares S.A.C. (Ares)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: 1.65pt; padding-left: 7.1pt">Income from land lease, note 28</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">344</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">339</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">336</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 1.65pt; padding-left: 7.1pt">Income from office lease</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">323</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">318</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">315</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Fossal S.A.A.&#xa0;&#xa0;(Fossal)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 1.65pt; padding-left: 7.1pt">Income from office lease</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">15</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">12</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">16</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: 1.65pt; padding-left: 7.1pt">Fees for management and administrative services</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">40</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">42</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">46</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Fosfatos del Pac&#xed;fico S.A. (Fospac)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: 1.65pt; padding-left: 7.1pt">Income from office lease</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">28</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">26</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">40</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 1.65pt; padding-left: 7.1pt">Fees for management and administrative services</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,160</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,175</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">917</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-indent: -7.1pt; padding-left: 7.1pt">Expense</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Security services provided by Compa&#xf1;&#xed;a Minera Ares</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,989</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">2,059</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,195</td><td style="text-align: left">&#xa0;</td></tr> </table> 12000 12000 12000 544000 548000 595000 344000 339000 336000 323000 318000 315000 15000 12000 16000 40000 42000 46000 28000 26000 40000 1160000 1175000 917000 1989000 2059000 1195000 <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Accounts <br/> receivable</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Accounts <br/> payable</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Accounts <br/> receivable</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Accounts <br/> payable</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: left">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: left">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: left">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left; text-indent: -6.3pt; padding-left: 6.3pt">Fosfatos del Pac&#xed;fico S.A.</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">543</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">-</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">1,487</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">-</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -6.3pt; padding-left: 6.3pt">Inversiones ASPI S.A.</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">157</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,240</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -6.3pt; padding-left: 6.3pt">Compa&#xf1;&#xed;a Minera Ares S.A.C.</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">207</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,772</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">242</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">209</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; text-indent: -6.3pt; padding-left: 6.3pt">Otros</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">264</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">240</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -6.3pt; padding-left: 6.3pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt; text-indent: -6.3pt; padding-left: 6.3pt">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">1,171</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">1,772</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">3,209</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">209</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table> 543000 1487000 157000 1240000 207000 1772000 242000 209000 264000 240000 1171000 1772000 3209000 209000 <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.5in; text-align: left">27.</td><td>Earnings per share (EPS)</td> </tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">Basic earnings per share (EPS) amounts are calculated by dividing the profit for the year by the weighted average number of common shares and investment shares outstanding during the year.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">The following reflects the income and share data used in the basic and diluted EPS computations:</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2017</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Numerator</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; font-weight: normal; font-style: normal; text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Net profit from continuing operations attributable to ordinary equity holders of the Parent</td><td style="width: 1%; font-weight: normal; font-style: normal">&#xa0;</td> <td style="width: 1%; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="width: 9%; font-weight: normal; font-style: normal; text-align: right">132,047</td><td style="width: 1%; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="width: 1%; font-weight: normal; font-style: normal">&#xa0;</td> <td style="width: 1%; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="width: 9%; font-weight: normal; font-style: normal; text-align: right">76,699</td><td style="width: 1%; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="width: 1%; font-weight: normal; font-style: normal">&#xa0;</td> <td style="width: 1%; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="width: 9%; font-weight: normal; font-style: normal; text-align: right">94,171</td><td style="width: 1%; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: normal; font-style: normal; text-align: left; padding-bottom: 1.5pt; text-indent: -7.1pt; padding-left: 7.1pt">Net loss from discontinued operations attributable to ordinary equity holders of the Parent</td><td style="font-weight: normal; font-style: normal; padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; font-weight: normal; font-style: normal; text-align: right">-</td><td style="padding-bottom: 1.5pt; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="font-weight: normal; font-style: normal; padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; font-weight: normal; font-style: normal; text-align: right">-</td><td style="padding-bottom: 1.5pt; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="font-weight: normal; font-style: normal; padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; font-weight: normal; font-style: normal; text-align: right">(389</td><td style="padding-bottom: 1.5pt; font-weight: normal; font-style: normal; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: normal; font-style: normal; text-align: left; padding-bottom: 4pt; text-indent: -7.1pt; padding-left: 7.1pt">Net profit attributable to ordinary equity holders of the Parent</td><td style="font-weight: normal; font-style: normal; padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; font-weight: normal; font-style: normal; text-align: right">132,047</td><td style="padding-bottom: 4pt; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="font-weight: normal; font-style: normal; padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; font-weight: normal; font-style: normal; text-align: right">76,699</td><td style="padding-bottom: 4pt; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="font-weight: normal; font-style: normal; padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; font-weight: normal; font-style: normal; text-align: right">93,782</td><td style="padding-bottom: 4pt; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Denominator</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; font-weight: normal; font-style: normal; padding-bottom: 4pt; text-indent: -7.65pt; padding-left: 7.65pt">Weighted average number of common and investment shares (thousands of shares)</td><td style="width: 1%; font-weight: normal; font-style: normal; padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; width: 1%; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; width: 9%; font-weight: normal; font-style: normal; text-align: right">428,107</td><td style="width: 1%; padding-bottom: 4pt; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="width: 1%; font-weight: normal; font-style: normal; padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; width: 1%; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; width: 9%; font-weight: normal; font-style: normal; text-align: right">428,107</td><td style="width: 1%; padding-bottom: 4pt; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="width: 1%; font-weight: normal; font-style: normal; padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; width: 1%; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; width: 9%; font-weight: normal; font-style: normal; text-align: right">446,062</td><td style="width: 1%; padding-bottom: 4pt; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td></tr> </table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2017</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; font-weight: bold; text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Basic profit for common and investment shares from continuing operations</td><td style="width: 1%; font-weight: normal; font-style: normal">&#xa0;</td> <td style="width: 1%; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="width: 9%; font-weight: normal; font-style: normal; text-align: right">0.31</td><td style="width: 1%; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="width: 1%; font-weight: normal; font-style: normal">&#xa0;</td> <td style="width: 1%; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="width: 9%; font-weight: normal; font-style: normal; text-align: right">0.18</td><td style="width: 1%; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="width: 1%; font-weight: normal; font-style: normal">&#xa0;</td> <td style="width: 1%; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="width: 9%; font-weight: normal; font-style: normal; text-align: right">0.21</td><td style="width: 1%; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt; text-indent: -7.1pt; padding-left: 7.1pt">Basic loss for common and investment shares from discontinued operations</td><td style="font-weight: normal; font-style: normal; padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; font-weight: normal; font-style: normal; text-align: right">-</td><td style="padding-bottom: 1.5pt; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="font-weight: normal; font-style: normal; padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; font-weight: normal; font-style: normal; text-align: right">-</td><td style="padding-bottom: 1.5pt; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="font-weight: normal; font-style: normal; padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; font-weight: normal; font-style: normal; text-align: right">-</td><td style="padding-bottom: 1.5pt; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt; text-indent: -7.65pt; padding-left: 7.65pt">Basic profit for common and investment shares from continuing and discontinued operations</td><td style="font-weight: normal; font-style: normal; padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; font-weight: normal; font-style: normal; text-align: right">0.31</td><td style="padding-bottom: 4pt; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="font-weight: normal; font-style: normal; padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; font-weight: normal; font-style: normal; text-align: right">0.18</td><td style="padding-bottom: 4pt; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="font-weight: normal; font-style: normal; padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; font-weight: normal; font-style: normal; text-align: right">0.21</td><td style="padding-bottom: 4pt; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0in"><font style="font-weight: normal">The weighted average number of shares in 2017, includes the weighted average effect of changes in treasury shares, as explained in note 17(c).</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">The Group had no dilutive potential ordinary shares as of December 31, 2019 and 2018.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">There were no other transactions involving common shares or investment shares between the reporting date and the date of the authorization of these consolidated financial statements.</p><br/> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2017</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Numerator</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; font-weight: normal; font-style: normal; text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Net profit from continuing operations attributable to ordinary equity holders of the Parent</td><td style="width: 1%; font-weight: normal; font-style: normal">&#xa0;</td> <td style="width: 1%; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="width: 9%; font-weight: normal; font-style: normal; text-align: right">132,047</td><td style="width: 1%; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="width: 1%; font-weight: normal; font-style: normal">&#xa0;</td> <td style="width: 1%; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="width: 9%; font-weight: normal; font-style: normal; text-align: right">76,699</td><td style="width: 1%; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="width: 1%; font-weight: normal; font-style: normal">&#xa0;</td> <td style="width: 1%; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="width: 9%; font-weight: normal; font-style: normal; text-align: right">94,171</td><td style="width: 1%; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: normal; font-style: normal; text-align: left; padding-bottom: 1.5pt; text-indent: -7.1pt; padding-left: 7.1pt">Net loss from discontinued operations attributable to ordinary equity holders of the Parent</td><td style="font-weight: normal; font-style: normal; padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; font-weight: normal; font-style: normal; text-align: right">-</td><td style="padding-bottom: 1.5pt; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="font-weight: normal; font-style: normal; padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; font-weight: normal; font-style: normal; text-align: right">-</td><td style="padding-bottom: 1.5pt; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="font-weight: normal; font-style: normal; padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; font-weight: normal; font-style: normal; text-align: right">(389</td><td style="padding-bottom: 1.5pt; font-weight: normal; font-style: normal; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: normal; font-style: normal; text-align: left; padding-bottom: 4pt; text-indent: -7.1pt; padding-left: 7.1pt">Net profit attributable to ordinary equity holders of the Parent</td><td style="font-weight: normal; font-style: normal; padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; font-weight: normal; font-style: normal; text-align: right">132,047</td><td style="padding-bottom: 4pt; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="font-weight: normal; font-style: normal; padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; font-weight: normal; font-style: normal; text-align: right">76,699</td><td style="padding-bottom: 4pt; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="font-weight: normal; font-style: normal; padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; font-weight: normal; font-style: normal; text-align: right">93,782</td><td style="padding-bottom: 4pt; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Denominator</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; font-weight: normal; font-style: normal; padding-bottom: 4pt; text-indent: -7.65pt; padding-left: 7.65pt">Weighted average number of common and investment shares (thousands of shares)</td><td style="width: 1%; font-weight: normal; font-style: normal; padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; width: 1%; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; width: 9%; font-weight: normal; font-style: normal; text-align: right">428,107</td><td style="width: 1%; padding-bottom: 4pt; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="width: 1%; font-weight: normal; font-style: normal; padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; width: 1%; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; width: 9%; font-weight: normal; font-style: normal; text-align: right">428,107</td><td style="width: 1%; padding-bottom: 4pt; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="width: 1%; font-weight: normal; font-style: normal; padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; width: 1%; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; width: 9%; font-weight: normal; font-style: normal; text-align: right">446,062</td><td style="width: 1%; padding-bottom: 4pt; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2017</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; font-weight: bold; text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Basic profit for common and investment shares from continuing operations</td><td style="width: 1%; font-weight: normal; font-style: normal">&#xa0;</td> <td style="width: 1%; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="width: 9%; font-weight: normal; font-style: normal; text-align: right">0.31</td><td style="width: 1%; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="width: 1%; font-weight: normal; font-style: normal">&#xa0;</td> <td style="width: 1%; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="width: 9%; font-weight: normal; font-style: normal; text-align: right">0.18</td><td style="width: 1%; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="width: 1%; font-weight: normal; font-style: normal">&#xa0;</td> <td style="width: 1%; 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font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; font-weight: normal; font-style: normal; text-align: right">-</td><td style="padding-bottom: 1.5pt; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="font-weight: normal; font-style: normal; padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; font-weight: normal; font-style: normal; text-align: right">-</td><td style="padding-bottom: 1.5pt; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt; text-indent: -7.65pt; padding-left: 7.65pt">Basic profit for common and investment shares from continuing and discontinued operations</td><td style="font-weight: normal; font-style: normal; padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; font-weight: normal; font-style: normal; text-align: right">0.31</td><td style="padding-bottom: 4pt; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="font-weight: normal; font-style: normal; padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; font-weight: normal; font-style: normal; text-align: right">0.18</td><td style="padding-bottom: 4pt; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="font-weight: normal; font-style: normal; padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; font-weight: normal; font-style: normal; text-align: right">0.21</td><td style="padding-bottom: 4pt; font-weight: normal; font-style: normal; text-align: left">&#xa0;</td></tr> </table> 132047000 76699000 94171000 -389000 132047000 76699000 93782000 428107 428107 446062 0.31 0.18 0.21 0.31 0.18 0.21 <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.5in; text-align: left">28.</td><td>Commitments and contingencies</td> </tr></table><br/><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0pt">Operating lease commitments &#x2013; Group as lessor</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><font style="font-weight: normal">As of December 31, 2019, 2018 and 2017, the Group, as lessor, had a land lease with Compa&#xf1;&#xed;a Minera Ares S.A.C. a related party of Inversiones ASPI S.A. This lease is annually renewable, and provided an annual rent of S/344,000, S/339,000 and S/336,000, respectively; see note 26.</font></p><br/><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0in">Capital commitments</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><font style="font-weight: normal">As of 31 December 2019, the Group had no significant capital commitments. </font></p><br/><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0in">Other commitments</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">On August 29, 2018, the Company signed a gas supply contract with Olympic Peru that entered in force during 2019 by which the Company started to use gas in our Piura plant. The supply contract is for 18 years and covers most of the Company&#xb4;s energy needs in the Piura plant. The contract has two phases: 1) the &#x201c;spot phase&#x201d;, in which the Company pays for the gas it uses; and the contract can be terminated at any time by either party without penalties and 2) the &#x201c;take or pay phase&#x201d;, in which the Company is required to pay for a minimum amount of gas established as a percentage of maximum gas requested to Olympic Peru (this percentage varies from 60 to 70% depending on the year), this phase has penalties by either party if any cancel the contract.&#xa0; The unit prices of the gas are fixed for each year despite it is in the &#x201c;spot&#x201d; or the &#x201c;take or pay&#x201d; phase. We are currently in the spot phase. The contract enters in &#x201c;take or pay&#x201d; phase when the following conditions are met by Olympic Peru: 1) The Peruvian Government signs a gas distribution contract with a concessionaire (third party) in the Piura region, 2) Olympic Peru transfers the pipe to said concessionaire, and 3) commercial conditions to transport the gas between Olympic Peru and the distribution concessionaire are agreed. These three conditions are not under our control and we cannot reasonably estimate when they will be met.</p><br/><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0in">Mining royalty</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0in"><i>Third parties</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">In December 2013, the Company signed an agreement with a third party, related to the use of the Virril&#xe1; concession, to carry out other non-metallic mining activities related to cement production. This agreement has a term of 30 years, with fixed annual payments of US$600,000 for the first three years and variable payments for the rest of the contract. The related expense as of December 31, 2019 and 2018 amounted to S/7,039,000 and S/6,023,000, respectively, and was recognized as part of the cost of inventory production. As part of this agreement, the Company is required to pay the equivalent of S/4.5 each for each metric ton of calcareous extracted, and the annual royalty may not be less than the equivalent to 850,000 metric tons since the fourth year of production.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0in"><i>Peruvian government</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><font style="font-weight: normal">According to the Royalty Mining Law in force since October 1, 2011, the royalty for the exploitation of metallic and nonmetallic resources is payable on a quarterly basis in an amount equal to the greater of: (i) an amount determined in accordance with a statutory scale of rates based on operating profit margin that is applied to the quarterly operating profit, adjusted by certain items, and (ii) 1% of net sales, in each case during the applicable quarter. These amounts are estimated based on the unconsolidated financial statements of Cementos Pacasmayo S.A.A. and the subsidiaries affected by this mining royalty, prepared in accordance with IFRS. Mining royalty payments will be deductible for income tax purposes in the fiscal year in which such payments are made. </font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Mining royalty expense paid to the Peruvian Government for 2019, 2018 and 2017 amounted to S/1,012,000, S/1,179,000 and S/841,000, respectively, and was recognized as part of the cost of inventory production.</p><br/><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0in">Tax situation</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">The Company is subject to Peruvian tax law. As of December 31, 2019 and 2018 and 2017, the income tax rate was 29.5 percent of the taxable profit after deducting employee participation, which is calculated at a rate of 8 to 10 percent of the taxable income.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">For purposes of determining income tax, transfer pricing transactions with related companies and companies resident in territories with low or no taxation, must be supported with documentation and information on the valuation methods used and the criteria considered for determination. Based on the operations of the Group, Management and its legal advisors believe that as a result of the application of these standards would not result in significant contingencies for the Group as of December 31, 2019 and 2018.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">The tax authority has the power to review and, if applicable, correct the income tax calculated by each company in the four years after the year of filing the tax return.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">It should be noted that of January 1, 2019, a series of tax benefits for Loreto region was eliminated, eliminating the tax refund of the value added tax (VAT) and the exemption of VAT for the importation of goods that are destined for consumption in the Amazon.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">The statements of income tax and VAT corresponding to the years indicated in the attached table are subject to review by the tax authorities:</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 85%; border-collapse: collapse; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold">&#xa0;</td> <td>&#xa0;</td> <td colspan="3" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold"><font style="font-size: 10pt">Years open to review by Tax Authority</font></td> <td>&#xa0;</td></tr> <tr> <td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; width: 65%; text-align: left; font-weight: bold"><font style="font-size: 10pt">Entity</font></td> <td style="width: 1%">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; width: 16%; text-align: center; font-weight: bold"><font style="font-size: 10pt">Income tax</font></td> <td style="width: 1%">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; vertical-align: top; width: 16%; text-align: center; font-weight: bold"><font style="font-size: 10pt">Value-added tax</font></td> <td style="width: 1%">&#xa0;</td></tr> <tr> <td style="vertical-align: bottom; text-align: left; font-weight: bold">&#xa0;</td> <td>&#xa0;</td> <td style="vertical-align: bottom; text-align: center; font-weight: bold">&#xa0;</td> <td>&#xa0;</td> <td style="vertical-align: top; text-align: center; font-weight: bold">&#xa0;</td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><font style="font-size: 10pt">Cementos Pacasmayo S.A.A.</font></td> <td>&#xa0;</td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">2015-2019</font></td> <td>&#xa0;</td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Dec. 2015-2019</font></td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td><font style="font-size: 10pt">Cementos Selva S.A.</font></td> <td>&#xa0;</td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">2015-2019</font></td> <td>&#xa0;</td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Dec. 2015-2019</font></td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><font style="font-size: 10pt">Distribuidora Norte Pacasmayo S.R.L.</font></td> <td>&#xa0;</td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">2015-2019</font></td> <td>&#xa0;</td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Dec. 2015-2019</font></td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td><font style="font-size: 10pt">Empresa de Transmisi&#xf3;n Guadalupe S.A.C.</font></td> <td>&#xa0;</td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">2015-2019</font></td> <td>&#xa0;</td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Dec. 2015-2019</font></td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><font style="font-size: 10pt">Salmueras Sudamericanas S.A.</font></td> <td>&#xa0;</td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">2015-2019</font></td> <td>&#xa0;</td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Dec. 2015-2019</font></td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td><font style="font-size: 10pt">Calizas del Norte S.A.C. (in liquidation)</font></td> <td>&#xa0;</td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">2015-2019</font></td> <td>&#xa0;</td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Dec. 2015-2019</font></td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><font style="font-size: 10pt">Soluciones Takay S.A.C.</font></td> <td>&#xa0;</td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">2019</font></td> <td>&#xa0;</td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Mar.2019-Dec.2019</font></td> <td>&#xa0;</td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Due to possible interpretations that the tax authority may give to legislation in effect, it is not possible to determine whether or not any of the tax audits will result in increased liabilities for the Group. For that reason, tax or surcharge that could arise from future tax audits would be applied to the income of the period in which it is determined. However, in Management&#x2019;s opinion, any possible additional payment of taxes would not have a material effect on the consolidated financial statements as of December 31, 2019 and 2018.</p><br/><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0in">Environmental matters</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0in"><font style="font-weight: normal">The Group&#x2019;s exploration and exploitation activities are subject to environmental protection standards. </font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0in"><i>Environmental remediation -</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0in">Law No. 28271 regulates environmental liabilities in mining activities. This Law has the objectives of ruling the identification of mining activity&#x2019;s environmental liabilities and financing the remediation of the affected areas. According to this law, environmental liabilities refer to the impact caused to the environment by abandoned or inactive mining operations.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0in">In compliance with the above-mentioned laws, the Group presented environmental impact studies (EIS), declaration of environmental studies (DES) and Environmental Adaptation and Management Programs (EAMP) for its mining concessions.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0in">The Peruvian authorities approved the EIS and EAMP presented by the Group for its mining concessions and exploration projects. A detail of plans and related expenses approved is presented as follows:</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">Project unit</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Resource</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Resolution <br/> Number</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Year of <br/> approval</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; 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"> <td style="padding-bottom: 1.5pt">Tembladera</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="padding-bottom: 1.5pt">Limestone</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="padding-bottom: 1.5pt">RD304-18-PRODUCE/DVMYPE-I/DIGAAMI</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="text-align: center; padding-bottom: 1.5pt">2018</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="text-align: center; padding-bottom: 1.5pt">EAMP</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">189</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">202</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; 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padding-bottom: 4pt">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">433</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">547</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">437</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0in">The Group incurs in environmental expenses related to environmental damages caused by current operations. These expenses amounted to S/433,000, S/547,000 and S/437,000 during 2019, 2018 and 2017, respectively. They were recorded as expenses in the year in which the expenses were incurred and are recognized in the administrative expenses item, see note 20. As of December 31, 2019 and 2018, the Group had no liabilities related to these expenses because all were liquid before the end of the year.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; text-align: left; margin-top: 0; margin-bottom: 0">Rehabilitation provision -</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Additionally, Law No. 28090 regulates the obligations and procedures that must be met by the holders of mining activities for the preparation, filing and implementation of Mine Closure Plans, as well as the establishment of the corresponding environmental guarantees to secure fulfillment of the investments that this includes, subject to the principles of protection, preservation and recovery of the environment. In connection with this obligation, as of December 31, 2019 and 2018, the Group maintains a provision for the closing of the quarries exploited in operations amounting to S/1,829,000 and S/1,489,000, respectively. The Group believes that this liability is adequate to meet the current environmental protection laws approved by the Ministry of Energy and Mines, refer to note 14.</p><br/><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0in">Legal claim contingency</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">The Group has received claims from third parties in relation with its operations which in the aggregate represent S/12,884,000. From this total amount, S/2,905,000 corresponded to labor claims from former employees, S/7,681,000 related to property tax assessment for the periods 2009 to 2014 received from the municipality of Pacasmayo, Peru; S/2,298,000 related to the tax assessments received from the tax administration corresponding to 2009 tax period, which was reviewed by the tax authority during 2012.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Management expects that these claims will be resolved within the next five years based on prior experience; however, the Group cannot assure that these claims will be resolved within this period because the authorities do not have a maximum term to resolve cases. The Group has been advised by its legal counsel that it is only possible, but not probable, that these actions will succeed. During 2019, a provision was recorded for legal claims in the consolidated financial statements of S/693,085 (S/420,076 in 2018).</p><br/> 344000 339000 336000 P18Y 0.60 0.70 P30Y 600000 7039000 6023000 the Company is required to pay the equivalent of S/4.5 each for each metric ton of calcareous extracted, and the annual royalty may not be less than the equivalent to 850,000 metric tons since the fourth year of production. According to the Royalty Mining Law in force since October 1, 2011, the royalty for the exploitation of metallic and nonmetallic resources is payable on a quarterly basis in an amount equal to the greater of: (i) an amount determined in accordance with a statutory scale of rates based on operating profit margin that is applied to the quarterly operating profit, adjusted by certain items, and (ii) 1% of net sales, in each case during the applicable quarter. 1012000 1179000 841000 0.295 0.295 0.08 0.10 433000 547000 437000 1829000 1489000 12884000 2905000 7681000 2298000 693085 420076 <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 85%; border-collapse: collapse; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold">&#xa0;</td> <td>&#xa0;</td> <td colspan="3" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold"><font style="font-size: 10pt">Years open to review by Tax Authority</font></td> <td>&#xa0;</td></tr> <tr> <td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; width: 65%; text-align: left; font-weight: bold"><font style="font-size: 10pt">Entity</font></td> <td style="width: 1%">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; width: 16%; text-align: center; font-weight: bold"><font style="font-size: 10pt">Income tax</font></td> <td style="width: 1%">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; vertical-align: top; width: 16%; text-align: center; font-weight: bold"><font style="font-size: 10pt">Value-added tax</font></td> <td style="width: 1%">&#xa0;</td></tr> <tr> <td style="vertical-align: bottom; text-align: left; font-weight: bold">&#xa0;</td> <td>&#xa0;</td> <td style="vertical-align: bottom; text-align: center; font-weight: bold">&#xa0;</td> <td>&#xa0;</td> <td style="vertical-align: top; text-align: center; font-weight: bold">&#xa0;</td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><font style="font-size: 10pt">Cementos Pacasmayo S.A.A.</font></td> <td>&#xa0;</td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">2015-2019</font></td> <td>&#xa0;</td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Dec. 2015-2019</font></td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td><font style="font-size: 10pt">Cementos Selva S.A.</font></td> <td>&#xa0;</td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">2015-2019</font></td> <td>&#xa0;</td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Dec. 2015-2019</font></td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><font style="font-size: 10pt">Distribuidora Norte Pacasmayo S.R.L.</font></td> <td>&#xa0;</td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">2015-2019</font></td> <td>&#xa0;</td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Dec. 2015-2019</font></td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td><font style="font-size: 10pt">Empresa de Transmisi&#xf3;n Guadalupe S.A.C.</font></td> <td>&#xa0;</td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">2015-2019</font></td> <td>&#xa0;</td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Dec. 2015-2019</font></td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><font style="font-size: 10pt">Salmueras Sudamericanas S.A.</font></td> <td>&#xa0;</td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">2015-2019</font></td> <td>&#xa0;</td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Dec. 2015-2019</font></td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td><font style="font-size: 10pt">Calizas del Norte S.A.C. 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"> <td style="padding-bottom: 1.5pt">Tembladera</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="padding-bottom: 1.5pt">Limestone</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="padding-bottom: 1.5pt">RD304-18-PRODUCE/DVMYPE-I/DIGAAMI</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="text-align: center; padding-bottom: 1.5pt">2018</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="text-align: center; padding-bottom: 1.5pt">EAMP</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">189</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">202</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; 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padding-bottom: 4pt">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">433</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">547</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">437</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table> Limestone RD186-2014-PRODUCE/DVMYPE-I/DIGGAM 2014 EIS 244000 345000 236000 Limestone RD304-18-PRODUCE/DVMYPE-I/DIGAAMI 2018 EAMP 189000 202000 201000 433000 547000 437000 <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.5in; text-align: left">29.</td><td>Financial risk management, objectives and policies</td> </tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">The Group&#x2019;s main financial liabilities, comprise loans and borrowings, trade payables and other payables. The main purpose of these financial liabilities is to finance the Group&#x2019;s operations. The Group&#xb4;s main financial assets include cash and short-term deposits and trade and other receivables that derive directly from its operations. The Group also holds financial instruments designated at fair value through OCI, cash flow hedges instruments and derivative financial instruments of negotiation.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">The Group is exposed to market risk, credit risk and liquidity risk. The Group&#x2019;s senior management oversees the management of these risks. The Group&#x2019;s senior management is supported by financial management that advises on financial risks and the appropriate financial risk governance framework for the Group. The financial management provides assurance to the Group&#x2019;s senior management that the Group&#x2019;s financial risk-taking activities are governed by appropriate policies and procedures and that financial risks are identified, measured and managed in accordance with the Group&#xb4;s policies and risk objectives.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"> The Management reviews and agrees policies for managing each of these risks, which are summarized below.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><b>Market risk -</b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprise three types of risk: interest rate risk, currency risk and other price risk, such as equity price risk and commodity risk. Financial instruments affected by market risk include deposits, financial instruments designated at fair value through OCI and derivative financial instruments.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">The sensitivity analyses shown in the following sections relate to the Group&#x2019;s consolidated position as of December 31, 2019 and 2018. The sensitivity analyses have been prepared on the basis that the amount of net debts and the proportion of financial instruments in foreign currencies are all constant and on the basis of the hedge designations in place as of December 31, 2019 and 2018.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">The following assumptions have been made in calculating the sensitivity analyses:</p><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in">-</td><td>The sensitivity of the relevant statement of profit or loss items is the effect of the assumed changes in respective market risks. This is based on the financial assets and financial liabilities held as of December 31, 2019 and 2018, including the effect of hedge accounting.</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; text-align: left; margin-top: 0; margin-bottom: 0"><b>Interest rate risk - </b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0in 0.5in">Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">As of December 31, 2019 and 2018, all of the Group&#x2019;s borrowings were at a fixed rate of interest; consequently, Management determined that is not necessary to do an interest rate sensitivity analysis.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; text-align: left; margin-top: 0; margin-bottom: 0"><b>Foreign currency risk -</b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">Foreign currency risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in foreign exchange rates. The Group&#x2019;s exposure to the risk of changes in foreign exchange relates primarily to the Group&#x2019;s operating activities (when revenue or expense is denominated in a different currency from the Group&#x2019;s functional currency).</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">The Group hedges its exposure to fluctuations on the translation into soles of its Senior Notes which are denominated in U.S. dollars, by using cross currency swaps contracts, see note 30 (a).</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><i>Foreign currency sensitivity</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">The following table demonstrates the sensitivity to a reasonably possible change in the U.S. dollar/sol exchange rate, with all other variables held constant. The impact on the Group&#x2019;s profit before income tax is due to changes in the fair value of monetary assets and liabilities.</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Change in <br/>US$ rate</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Effect on <br/>consolidated profit <br/>before tax</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left">U.S. Dollar</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">%</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; font-weight: bold; text-indent: 0in">&#xa0;</td><td style="width: 1%; font-weight: normal">&#xa0;</td> <td style="width: 1%; font-weight: normal; text-align: left">&#xa0;</td><td style="width: 9%; font-weight: normal; text-align: right"><font style="font-size: 10pt; font-weight: normal">+5</font></td><td style="width: 1%; font-weight: normal; text-align: left">&#xa0;</td><td style="width: 1%; font-weight: normal">&#xa0;</td> <td style="width: 1%; font-weight: normal; text-align: left">&#xa0;</td><td style="width: 9%; font-weight: normal; text-align: right">(650</td><td style="width: 1%; font-weight: normal; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">&#xa0;</td><td style="font-weight: normal">&#xa0;</td> <td style="font-weight: normal; text-align: left">&#xa0;</td><td style="font-weight: normal; text-align: right"><font style="font-size: 10pt; font-weight: normal">+10</font></td><td style="font-weight: normal; text-align: left">&#xa0;</td><td style="font-weight: normal">&#xa0;</td> <td style="font-weight: normal; text-align: left">&#xa0;</td><td style="font-weight: normal; text-align: right">(1,299</td><td style="font-weight: normal; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-indent: 0in">&#xa0;</td><td style="font-weight: normal">&#xa0;</td> <td style="font-weight: normal; text-align: left">&#xa0;</td><td style="font-weight: normal; text-align: right">-5</td><td style="font-weight: normal; text-align: left">&#xa0;</td><td style="font-weight: normal">&#xa0;</td> <td style="font-weight: normal; text-align: left">&#xa0;</td><td style="font-weight: normal; text-align: right">650</td><td style="font-weight: normal; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-indent: 0in">&#xa0;</td><td style="font-weight: normal">&#xa0;</td> <td style="font-weight: normal; text-align: left">&#xa0;</td><td style="font-weight: normal; text-align: right">-10</td><td style="font-weight: normal; text-align: left">&#xa0;</td><td style="font-weight: normal">&#xa0;</td> <td style="font-weight: normal; text-align: left">&#xa0;</td><td style="font-weight: normal; text-align: right">1,299</td><td style="font-weight: normal; text-align: left">&#xa0;</td></tr> </table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Change in <br/>US$ rate</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Effect on <br/>consolidated profit <br/>before tax</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left">U.S. Dollar</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">%</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; font-weight: bold; text-indent: 0in">&#xa0;</td><td style="width: 1%; font-weight: normal">&#xa0;</td> <td style="width: 1%; font-weight: normal; text-align: left">&#xa0;</td><td style="width: 9%; font-weight: normal; text-align: right"><font style="font-size: 10pt; font-weight: normal">+5</font></td><td style="width: 1%; font-weight: normal; text-align: left">&#xa0;</td><td style="width: 1%; font-weight: normal">&#xa0;</td> <td style="width: 1%; font-weight: normal; text-align: left">&#xa0;</td><td style="width: 9%; font-weight: normal; text-align: right">(3,183</td><td style="width: 1%; font-weight: normal; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-indent: 0in">&#xa0;</td><td style="font-weight: normal">&#xa0;</td> <td style="font-weight: normal; text-align: left">&#xa0;</td><td style="font-weight: normal; text-align: right"><font style="font-size: 10pt; font-weight: normal">+10</font></td><td style="font-weight: normal; text-align: left">&#xa0;</td><td style="font-weight: normal">&#xa0;</td> <td style="font-weight: normal; text-align: left">&#xa0;</td><td style="font-weight: normal; text-align: right">(6,365</td><td style="font-weight: normal; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-indent: 0in">&#xa0;</td><td style="font-weight: normal">&#xa0;</td> <td style="font-weight: normal; text-align: left">&#xa0;</td><td style="font-weight: normal; text-align: right">-5</td><td style="font-weight: normal; text-align: left">&#xa0;</td><td style="font-weight: normal">&#xa0;</td> <td style="font-weight: normal; text-align: left">&#xa0;</td><td style="font-weight: normal; text-align: right">3,183</td><td style="font-weight: normal; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-indent: 0in">&#xa0;</td><td style="font-weight: normal">&#xa0;</td> <td style="font-weight: normal; text-align: left">&#xa0;</td><td style="font-weight: normal; text-align: right">-10</td><td style="font-weight: normal; text-align: left">&#xa0;</td><td style="font-weight: normal">&#xa0;</td> <td style="font-weight: normal; text-align: left">&#xa0;</td><td style="font-weight: normal; text-align: right">6,365</td><td style="font-weight: normal; text-align: left">&#xa0;</td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; text-align: left; margin-top: 0; margin-bottom: 0"><b>Equity price risk -</b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">The Group&#x2019;s listed equity securities measured at level three of the fair value hierarchy are susceptible to market price risk arising from uncertainties about future values of the investment securities, see note 30.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><b>Credit risk -</b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">Credit risk is the risk that counterparty will not meet its obligations under a financial instrument or customer contract, leading to a financial loss. The Group is exposed to a credit risk from its operating activities (primarily for trade receivables) and from its financing activities, including deposits with banks and financial institutions, foreign exchange transactions and other financial instruments.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><i>Trade receivables</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Customer credit risk is managed by each business unit subject to the Group&#x2019;s established policy, procedures and control relating to customer credit risk management. Credit quality of the customer is assessed, and individual credit limits are defined in accordance with this assessment. Outstanding customer receivables are regularly monitored and any shipments to major customers are generally covered by letters of credit. As of December 31, 2019 and 2018, the Group had 6 customers, that owed the Group more than S/3,000,000, with each accounting for approximately 43% and 33% for all receivables owing, respectively. As of December 31, 2019, there were 22 customers with balances smaller than S/700,000 and less S/3,000,000, with each accounting for approximately 31% and 37% of the total amount receivable, respectively. The evaluation for allowance for expected credit losses is updated at the date of the consolidated financial statements and individually for the main customers. This calculation is based on actual historical data incurred.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">The maximum exposure to credit risk at the reporting date is the carrying value of each class of financial assets disclosed in note 7. The Group does not hold collateral as security.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><i>Financial instruments and cash deposits</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Credit risk from balances with banks and financial institutions is managed by the Group&#x2019;s treasury department in accordance with the Group&#x2019;s policy. Investments of surplus funds are made only with approved counterparties of first level. The limits are set to minimize the concentration of risks and therefore mitigate financial loss through potential counterparty&#x2019;s failure to make payments. As of December 31, 2019 and 2018, the Group&#x2019;s maximum exposure to credit risk for the components of carrying amounts is shown in note 6. The Group&#x2019;s maximum exposure relating to financial derivative instruments is noted in the liquidity table.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><b>Liquidity risk -</b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">The Group monitors its risk of shortage of funds using a recurring liquidity planning tool.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">The Group&#x2019;s objective is to maintain a balance between continuity of funding and flexibility through the use of bank loans and debentures of long term. 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font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">3 to 12 months</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">1 to 5 years</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">More than 5 years</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">As of December 31, 2019</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left; text-indent: -6.3pt; padding-left: 6.3pt">Interest-bearing loans adjusted by hedge</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">-</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">98,774</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">400,671</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">570,000</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">1,069,445</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -6.3pt; padding-left: 6.3pt">Interest</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">29,124</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">31,265</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">203,525</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">232,057</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">495,971</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -6.3pt; padding-left: 6.3pt">Hedge finance cost payable</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">14,703</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">36,757</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">51,460</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -6.3pt; padding-left: 6.3pt">Trade and other payables</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">174,888</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">50,364</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">225,252</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-indent: -6.3pt; padding-left: 6.3pt">As of December 31, 2018</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -6.3pt; padding-left: 6.3pt">Interest-bearing loans adjusted by hedge</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">60,822</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">981,440</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,042,262</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -6.3pt; padding-left: 6.3pt">Interest</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">10,006</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">44,436</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">101,243</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">155,685</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -6.3pt; padding-left: 6.3pt">Hedge finance cost payable</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">7,489</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">7,489</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">52,422</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">67,400</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -6.3pt; padding-left: 6.3pt">Trade and other payables</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">120,947</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">24,903</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">145,850</td><td style="text-align: left">&#xa0;</td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">The disclosed financial derivative instruments in the table below are the gross undiscounted cash flows. However, those amounts may be settled gross or net. The following table shows the corresponding reconciliation to those amounts to their carrying amounts:</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">On demand</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Less than <br/> 3 months</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">3 to 12 <br/> months</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">1 to 5 years</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">More than <br/> 5 years</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">As of December 31, 2019</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 28%; text-indent: -6.3pt; padding-left: 6.3pt">Inflows</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">-</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">-</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">-</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">44,527</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;-</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">44,527</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; text-indent: -6.3pt; padding-left: 6.3pt">Outflows</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,601</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(7,394</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(36,210</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(45,205</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; text-indent: -6.3pt; padding-left: 6.3pt">Net</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,601</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(7,394</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">8,317</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(678</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 4pt; text-indent: -6.3pt; padding-left: 6.3pt">Discounted at the applicable interbank rates</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">-</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">(1,595</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">(7,280</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">7,573</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">-</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">(1,302</td><td style="padding-bottom: 4pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-indent: -6.3pt; padding-left: 6.3pt">As of December 31, 2018</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -6.3pt; padding-left: 6.3pt">Inflows</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,470</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">75,955</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">77,425</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; text-indent: -6.3pt; padding-left: 6.3pt">Outflows</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,631</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(7,448</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(50,025</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(59,104</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; text-indent: -6.3pt; padding-left: 6.3pt">Net</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,470</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,631</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(7,448</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">25,930</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">18,321</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 4pt; text-indent: -6.3pt; padding-left: 6.3pt">Discounted at the applicable interbank rates</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">1,470</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">(1,625</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">(7,336</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">19,759</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">-</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">12,268</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">Changes in liabilities arising from financing activities:</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Balance as of<br/> January&#xa0;1, <br/> 2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Distribution <br/> of dividends</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Finance <br/> cost on cross <br/> currency <br/> swaps</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Cash <br/> inflow</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Cash <br/> outflow</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Movement <br/> of foreign <br/> currency</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Amortization <br/> of costs of <br/> issuance of <br/> senior notes</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Others</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Balance as of <br/> December&#xa0;31, <br/> 2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">2019</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 10%; text-align: left; text-indent: -8.8pt; padding-left: 8.8pt">Hedge finance cost payable</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 7%; text-align: right">6,033</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 7%; text-align: right">-</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 7%; text-align: right">14,824</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 7%; text-align: right">-</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 7%; text-align: right">(14,935</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 7%; text-align: right">-</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 7%; text-align: right">-</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 7%; text-align: right">-</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 7%; text-align: right">5,922</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -6.3pt; padding-left: 6.3pt">Dividends payable</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">19,331</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">154,119</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(120,647</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(280</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">52,523</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -6.3pt; padding-left: 6.3pt">Interest-bearing loans</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,083,377</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">638,281</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(610,999</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(9,562</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">807</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,101,904</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -6.3pt; padding-left: 6.3pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; text-indent: -6.3pt; padding-left: 6.3pt">2018</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -8.8pt; padding-left: 8.8pt">Hedge finance cost payable</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">10,505</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">21,971</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(26,443</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">6,033</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -6.3pt; padding-left: 6.3pt">Dividends payable</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">29,725</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">161,396</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(171,790</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">19,331</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -6.3pt; padding-left: 6.3pt">Interest-bearing loans</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">965,290</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">661,390</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(588,150</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">39,520</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">5,327</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,083,377</td><td style="text-align: left">&#xa0;</td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; text-align: left; margin-top: 0; margin-bottom: 0"><b>Capital management -</b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0in">For the purpose of the Group&#x2019;s capital management, capital includes capital stock, investment shares, additional paid-in capital and all other equity reserves attributable to the equity holders of the parent. 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font-weight: bold; text-align: center">Effect on <br/>consolidated profit <br/>before tax</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left">U.S. Dollar</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">%</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; font-weight: bold; text-indent: 0in">&#xa0;</td><td style="width: 1%; font-weight: normal">&#xa0;</td> <td style="width: 1%; font-weight: normal; text-align: left">&#xa0;</td><td style="width: 9%; font-weight: normal; text-align: right"><font style="font-size: 10pt; font-weight: normal">+5</font></td><td style="width: 1%; font-weight: normal; text-align: left">&#xa0;</td><td style="width: 1%; font-weight: normal">&#xa0;</td> <td style="width: 1%; font-weight: normal; text-align: left">&#xa0;</td><td style="width: 9%; font-weight: normal; text-align: right">(650</td><td style="width: 1%; font-weight: normal; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">&#xa0;</td><td style="font-weight: normal">&#xa0;</td> <td style="font-weight: normal; text-align: left">&#xa0;</td><td style="font-weight: normal; text-align: right"><font style="font-size: 10pt; font-weight: normal">+10</font></td><td style="font-weight: normal; text-align: left">&#xa0;</td><td style="font-weight: normal">&#xa0;</td> <td style="font-weight: normal; text-align: left">&#xa0;</td><td style="font-weight: normal; text-align: right">(1,299</td><td style="font-weight: normal; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-indent: 0in">&#xa0;</td><td style="font-weight: normal">&#xa0;</td> <td style="font-weight: normal; text-align: left">&#xa0;</td><td style="font-weight: normal; text-align: right">-5</td><td style="font-weight: normal; text-align: left">&#xa0;</td><td style="font-weight: normal">&#xa0;</td> <td style="font-weight: normal; text-align: left">&#xa0;</td><td style="font-weight: normal; text-align: right">650</td><td style="font-weight: normal; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-indent: 0in">&#xa0;</td><td style="font-weight: normal">&#xa0;</td> <td style="font-weight: normal; text-align: left">&#xa0;</td><td style="font-weight: normal; text-align: right">-10</td><td style="font-weight: normal; text-align: left">&#xa0;</td><td style="font-weight: normal">&#xa0;</td> <td style="font-weight: normal; text-align: left">&#xa0;</td><td style="font-weight: normal; text-align: right">1,299</td><td style="font-weight: normal; text-align: left">&#xa0;</td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Change in <br/>US$ rate</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Effect on <br/>consolidated profit <br/>before tax</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left">U.S. Dollar</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">%</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; font-weight: bold; text-indent: 0in">&#xa0;</td><td style="width: 1%; font-weight: normal">&#xa0;</td> <td style="width: 1%; font-weight: normal; text-align: left">&#xa0;</td><td style="width: 9%; font-weight: normal; text-align: right"><font style="font-size: 10pt; font-weight: normal">+5</font></td><td style="width: 1%; font-weight: normal; text-align: left">&#xa0;</td><td style="width: 1%; font-weight: normal">&#xa0;</td> <td style="width: 1%; font-weight: normal; text-align: left">&#xa0;</td><td style="width: 9%; font-weight: normal; text-align: right">(3,183</td><td style="width: 1%; font-weight: normal; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-indent: 0in">&#xa0;</td><td style="font-weight: normal">&#xa0;</td> <td style="font-weight: normal; text-align: left">&#xa0;</td><td style="font-weight: normal; text-align: right"><font style="font-size: 10pt; font-weight: normal">+10</font></td><td style="font-weight: normal; text-align: left">&#xa0;</td><td style="font-weight: normal">&#xa0;</td> <td style="font-weight: normal; text-align: left">&#xa0;</td><td style="font-weight: normal; text-align: right">(6,365</td><td style="font-weight: normal; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-indent: 0in">&#xa0;</td><td style="font-weight: normal">&#xa0;</td> <td style="font-weight: normal; text-align: left">&#xa0;</td><td style="font-weight: normal; text-align: right">-5</td><td style="font-weight: normal; text-align: left">&#xa0;</td><td style="font-weight: normal">&#xa0;</td> <td style="font-weight: normal; text-align: left">&#xa0;</td><td style="font-weight: normal; text-align: right">3,183</td><td style="font-weight: normal; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-indent: 0in">&#xa0;</td><td style="font-weight: normal">&#xa0;</td> <td style="font-weight: normal; text-align: left">&#xa0;</td><td style="font-weight: normal; text-align: right">-10</td><td style="font-weight: normal; text-align: left">&#xa0;</td><td style="font-weight: normal">&#xa0;</td> <td style="font-weight: normal; text-align: left">&#xa0;</td><td style="font-weight: normal; text-align: right">6,365</td><td style="font-weight: normal; text-align: left">&#xa0;</td></tr> </table> 0.05 -650000 0.10 -1299000 -0.05 650000 -0.10 1299000 0.05 -3183000 0.10 -6365000 -0.05 3183000 -0.10 6365000 <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Less than 3 months</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">3 to 12 months</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">1 to 5 years</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">More than 5 years</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">As of December 31, 2019</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left; text-indent: -6.3pt; padding-left: 6.3pt">Interest-bearing loans adjusted by hedge</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">-</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">98,774</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">400,671</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">570,000</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">1,069,445</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -6.3pt; padding-left: 6.3pt">Interest</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">29,124</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">31,265</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">203,525</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">232,057</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">495,971</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -6.3pt; padding-left: 6.3pt">Hedge finance cost payable</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">14,703</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">36,757</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">51,460</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -6.3pt; padding-left: 6.3pt">Trade and other payables</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">174,888</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">50,364</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">225,252</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-indent: -6.3pt; padding-left: 6.3pt">As of December 31, 2018</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -6.3pt; padding-left: 6.3pt">Interest-bearing loans adjusted by hedge</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">60,822</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">981,440</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,042,262</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -6.3pt; padding-left: 6.3pt">Interest</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">10,006</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">44,436</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">101,243</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">155,685</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -6.3pt; padding-left: 6.3pt">Hedge finance cost payable</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">7,489</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">7,489</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">52,422</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">67,400</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -6.3pt; padding-left: 6.3pt">Trade and other payables</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">120,947</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">24,903</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">145,850</td><td style="text-align: left">&#xa0;</td></tr> </table> 98774000 400671000 570000000 1069445000 29124000 31265000 203525000 232057000 495971000 14703000 36757000 51460000 174888000 50364000 225252000 60822000 981440000 1042262000 10006000 44436000 101243000 155685000 7489000 7489000 52422000 67400000 120947000 24903000 145850000 <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">On demand</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Less than <br/> 3 months</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">3 to 12 <br/> months</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">1 to 5 years</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">More than <br/> 5 years</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">As of December 31, 2019</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 28%; text-indent: -6.3pt; padding-left: 6.3pt">Inflows</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">-</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">-</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">-</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">44,527</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;&#xa0;-</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">44,527</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; text-indent: -6.3pt; padding-left: 6.3pt">Outflows</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,601</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(7,394</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(36,210</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(45,205</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; text-indent: -6.3pt; padding-left: 6.3pt">Net</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,601</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(7,394</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">8,317</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(678</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 4pt; text-indent: -6.3pt; padding-left: 6.3pt">Discounted at the applicable interbank rates</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">-</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">(1,595</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">(7,280</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">7,573</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">-</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">(1,302</td><td style="padding-bottom: 4pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-indent: -6.3pt; padding-left: 6.3pt">As of December 31, 2018</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -6.3pt; padding-left: 6.3pt">Inflows</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,470</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">75,955</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">77,425</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; text-indent: -6.3pt; padding-left: 6.3pt">Outflows</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,631</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(7,448</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(50,025</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(59,104</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; text-indent: -6.3pt; padding-left: 6.3pt">Net</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,470</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,631</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(7,448</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">25,930</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">18,321</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 4pt; text-indent: -6.3pt; padding-left: 6.3pt">Discounted at the applicable interbank rates</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">1,470</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">(1,625</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">(7,336</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">19,759</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">-</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">12,268</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table> 44527000 44527000 -1601000 -7394000 -36210000 -45205000 -1601000 -7394000 8317000 -678000 -1595000 -7280000 7573000 -1302000 1470000 75955000 77425000 -1631000 -7448000 -50025000 -59104000 1470000 -1631000 -7448000 25930000 18321000 1470000 -1625000 -7336000 19759000 12268000 <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Balance as of<br/> January&#xa0;1, <br/> 2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Distribution <br/> of dividends</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Finance <br/> cost on cross <br/> currency <br/> swaps</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Cash <br/> inflow</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Cash <br/> outflow</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Movement <br/> of foreign <br/> currency</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Amortization <br/> of costs of <br/> issuance of <br/> senior notes</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Others</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Balance as of <br/> December&#xa0;31, <br/> 2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">2019</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 10%; text-align: left; text-indent: -8.8pt; padding-left: 8.8pt">Hedge finance cost payable</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 7%; text-align: right">6,033</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 7%; text-align: right">-</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 7%; text-align: right">14,824</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 7%; text-align: right">-</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 7%; text-align: right">(14,935</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 7%; text-align: right">-</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 7%; text-align: right">-</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 7%; text-align: right">-</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 7%; text-align: right">5,922</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -6.3pt; padding-left: 6.3pt">Dividends payable</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">19,331</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">154,119</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(120,647</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(280</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">52,523</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -6.3pt; padding-left: 6.3pt">Interest-bearing loans</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,083,377</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">638,281</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(610,999</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(9,562</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">807</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,101,904</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -6.3pt; padding-left: 6.3pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; 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"> <td style="text-align: left; text-indent: -8.8pt; padding-left: 8.8pt">Hedge finance cost payable</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">10,505</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">21,971</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(26,443</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">6,033</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -6.3pt; padding-left: 6.3pt">Dividends payable</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">29,725</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">161,396</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(171,790</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">19,331</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -6.3pt; padding-left: 6.3pt">Interest-bearing loans</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">965,290</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">661,390</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(588,150</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">39,520</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">5,327</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,083,377</td><td style="text-align: left">&#xa0;</td></tr> </table> 6033000 14824000 -14935000 5922000 19331000 154119000 -120647000 -280000 52523000 1083377000 638281000 -610999000 -9562000 807000 1101904000 10505000 21971000 -26443000 29725000 161396000 -171790000 965290000 661390000 -588150000 39520000 5327000 <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.5in; text-align: left">30.</td><td>Fair value financial assets and liabilities</td> </tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">Financial assets -</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">Except derivate financial instruments and financial instruments designated at fair value through other comprehensive income, all financial assets which included cash and cash equivalents and trade and other receivables are classified in the category of loans and receivables, are which non-derivative financial assets carried at amortized cost, held to maturity, and generate a fixed or variable interest income for the Group. The carrying value may be affected by changes in the credit risk of the counterparties.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">Financial liabilities -</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">All financial liabilities of the Group including trade and other payables and interest-bearing loans and borrowings are classified as loans and borrowings and are carried at amortized cost.</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left">(a)</td><td>Derivative financial instruments -</td> </tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0pt">Derivates liabilities of hedging -</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0pt"><i>Foreign currency risk -</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">As of December 31, 2019 and 2018, the Company maintained cross currency swaps agreements for an amount of US$150,000,000. Of this total, US$131,612,000 were designated as hedging instruments for Senior Notes denominated in U.S. dollars, with the intention of reducing the foreign exchange risk.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0in">The cash flow hedge of the expected future payments was assessed to be highly effective and an unrealized loss of S/2,556,000 was included in OCI as of December 31, 2019 (unrealized gain of S/201,000 as of December 31, 2018). The amounts retained in other comprehensive income as of December 31, 2019 are expected to mature and affect the consolidated statement of profit or loss in 2023.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0in">Liabilities assets from trading -</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Cross currency swaps that do not have an underlying relationship amounted to US$18,388,000 and were designated as trading. The effect on profit or loss of the change on their fair value amounted to S/1,483,000 as of December 31, 2019 (S/1,324,000 as of December 31, 2018). In addition, the derivative trading instrument acquired by the Company in December 2018 for a nominal amount of US$70,000,000 was liquidated in January 2019 and the result was a gain presented in &#x201c;Finance income&#x201d; in the consolidated statement of profit or loss for a value of S/1,458,000.</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left">(b)</td><td>Fair values and fair value accounting hierarchy -</td> </tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">Set out below is a comparison of the carrying amounts and fair values of financial instruments as of December 31, 2019 and 2018, as well as the fair value accounting hierarchy.</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Carrying amount</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Fair value</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: center">Fair value hierarchy</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2019/2018</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td>&#xa0;</td> <td colspan="2">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Financial assets</td><td>&#xa0;</td> <td colspan="2">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Cash and cash equivalents</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">68,266</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">49,067</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">68,266</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">49,067</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 10%; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Level 1</font></td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Trade and other receivables</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">125,211</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">107,501</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">125,211</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">107,501</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Level 1</font></td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -9pt; padding-left: 9pt">Derivatives financial assets &#x2013; Cross currency swaps</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">12,268</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">12,268</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Level 2</font></td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt">Financial investment at fair value through other comprehensive income</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">18,224</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">26,883</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">18,224</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">26,883</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="padding-bottom: 1.5pt; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Level 3</font></td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt">Total financial assets</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">211,701</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">195,719</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">211,701</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">195,719</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="padding-bottom: 4pt; text-align: center">&#xa0;</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -9pt; padding-left: 9pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: center">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; text-indent: -9pt; padding-left: 9pt">Financial liabilities</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: center">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -9pt; padding-left: 9pt">Trade and other payables</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">237,299</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">154,565</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">237,299</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">154,565</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Level 1</font></td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -9pt; padding-left: 9pt">Derivatives financial liabilities &#x2013; &#x201c;Cross currency swaps&#x201d;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,302</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,302</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Level 2</font></td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -9pt; padding-left: 9pt">Senior notes</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,003,130</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">441,786</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,048,484</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">442,142</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Level 1</font></td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt">Promissory notes</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">98,774</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">641,591</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">99,333</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">643,308</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="padding-bottom: 1.5pt; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Level 2</font></td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: center">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; 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text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">1,240,015</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="padding-bottom: 4pt; text-align: center">&#xa0;</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">All financial instruments for which fair value is recognized or disclosed are categorized within the fair value hierarchy, based on the lowest level input that is significant to the fair value measurement as a whole, as follows:</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">Level 1 &#x2014; Quoted (unadjusted) market prices in active markets for identical assets or liabilities.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">Level 2 &#x2014; Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observable.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; 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As of December 31, 2019 and 2018, there were no transfers between the fair value hierarchies.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">Management assessed that cash and term deposits, trade and other receivables and other current liabilities approximate their carrying amounts largely due to the short-term maturities of these instruments.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">The following methods and assumptions were used to estimate the fair values:</p><br/><table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 1in"></td><td style="width: 0.5in"><font style="font-family: Times New Roman, Times, Serif">-</font></td><td>The fair value of cross currency swaps is measured by using valuation techniques where inputs are based on market data and present value calculations. 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padding-left: 9pt">Derivatives financial assets &#x2013; Cross currency swaps</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">12,268</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">12,268</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Level 2</font></td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt">Financial investment at fair value through other comprehensive income</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">18,224</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">26,883</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">18,224</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">26,883</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="padding-bottom: 1.5pt; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Level 3</font></td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt">Total financial assets</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">211,701</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">195,719</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; 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text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">643,308</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="padding-bottom: 1.5pt; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Level 2</font></td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: center">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; 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text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">1,240,015</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="padding-bottom: 4pt; text-align: center">&#xa0;</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table> 68266000 49067000 68266000 49067000 125211000 107501000 125211000 107501000 12268000 12268000 18224000 26883000 18224000 26883000 211701000 195719000 211701000 195719000 237299000 154565000 237299000 154565000 1302000 1302000 1003130000 441786000 1048484000 442142000 98774000 641591000 99333000 643308000 1340505000 1237942000 1386418000 1240015000 <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 85%; border-collapse: collapse; margin-left: auto; margin-right: auto;"> <tr> <td style="padding-bottom: 1.5pt; vertical-align: bottom; width: 52%; text-align: left; font-weight: bold"><b>&#xa0;</b></td> <td style="width: 1%">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; 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vertical-align: bottom"> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">WACC discount rate</p></td> <td>&#xa0;</td> <td style="vertical-align: bottom; text-align: center"><font style="font-size: 10pt">8.9%</font></td> <td>&#xa0;</td> <td style="vertical-align: top; text-align: center"><font style="font-size: 10pt">10% (2018: 10%) increase or decrease in the discount rate would result in an increase (decrease) in fair value at (S/11,222,000) and S/15,352,000, respectively (2018: (S/12,942,000) and S/19,969,000, respectively).</font></td> <td>&#xa0;</td></tr> </table> 0.04 5% (2018: 5%) increase or decrease in the factor would result in an increase (decrease) in fair value of S/11,012,000 and (S/11,381,000), respectively (2018: S/10,790,000 and (S/8,783,000), respectively). 0.089 10% (2018: 10%) increase or decrease in the discount rate would result in an increase (decrease) in fair value at (S/11,222,000) and S/15,352,000, respectively (2018: (S/12,942,000) and S/19,969,000, respectively). <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; 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text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td></tr> <tr style="font-size: 8pt; vertical-align: bottom"> <td style="font-size: 8pt; font-weight: bold"><font style="font-size: 8pt">2019</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td colspan="2" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td colspan="2" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td colspan="2" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td colspan="2" style="font-size: 8pt; 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text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td colspan="2" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td colspan="2" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td colspan="2" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td colspan="2" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td colspan="2" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td colspan="2" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td colspan="2" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td colspan="2" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td></tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; width: 20%; text-align: left; text-indent: -7.1pt; padding-left: 7.1pt"><font style="font-size: 8pt">Cement, concrete and precast</font></td><td style="font-size: 8pt; width: 1%"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; width: 1%; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; width: 2%; text-align: right"><font style="font-size: 8pt">1,289,034</font></td><td style="font-size: 8pt; width: 1%; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; width: 1%"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; width: 1%; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; width: 2%; text-align: right"><font style="font-size: 8pt">(808,568</font></td><td style="font-size: 8pt; width: 1%; text-align: left"><font style="font-size: 8pt">)</font></td><td style="font-size: 8pt; width: 1%"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; width: 1%; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; width: 2%; text-align: right"><font style="font-size: 8pt">480,466</font></td><td style="font-size: 8pt; width: 1%; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; width: 1%"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; width: 1%; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; width: 2%; text-align: right"><font style="font-size: 8pt">2,701</font></td><td style="font-size: 8pt; width: 1%; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; width: 1%"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; width: 1%; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; width: 2%; text-align: right"><font style="font-size: 8pt">(165,758</font></td><td style="font-size: 8pt; width: 1%; text-align: left"><font style="font-size: 8pt">)</font></td><td style="font-size: 8pt; width: 1%"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; width: 1%; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; width: 2%; text-align: right"><font style="font-size: 8pt">(42,306</font></td><td style="font-size: 8pt; width: 1%; text-align: left"><font style="font-size: 8pt">)</font></td><td style="font-size: 8pt; width: 1%"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; width: 1%; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; width: 2%; text-align: right"><font style="font-size: 8pt">-</font></td><td style="font-size: 8pt; width: 1%; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; width: 1%"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; width: 1%; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; width: 2%; text-align: right"><font style="font-size: 8pt">(77,947</font></td><td style="font-size: 8pt; width: 1%; text-align: left"><font style="font-size: 8pt">)</font></td><td style="font-size: 8pt; width: 1%"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; width: 1%; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; width: 2%; text-align: right"><font style="font-size: 8pt">2,553</font></td><td style="font-size: 8pt; width: 1%; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; width: 1%"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; width: 1%; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; width: 2%; text-align: right"><font style="font-size: 8pt">(1,491</font></td><td style="font-size: 8pt; 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text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">(436</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">)</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">923</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">-</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; 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text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td></tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; text-align: left; text-indent: -7.1pt; padding-left: 7.1pt"><font style="font-size: 8pt">Cement, concrete and precast</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">1,071,759</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">(599,729</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">)</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">472,030</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">(4,127</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">)</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">(174,087</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">)</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">(39,334</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">)</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">-</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">(73,759</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">)</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">5,779</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">-</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">(2,012</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">)</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">184,490</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">(67,568</font></td><td style="font-size: 8pt; 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text-align: left"><font style="font-size: 8pt">&#xa0;</font></td></tr> <tr style="font-size: 8pt; vertical-align: bottom; "> <td style="font-size: 8pt; text-align: left; text-indent: -7.1pt; padding-left: 7.1pt"><font style="font-size: 8pt">Construction supplies</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">66,442</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">(64,569</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">)</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">1,873</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">36</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">(1,499</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">)</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">(2,287</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">)</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">-</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">-</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">48</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">-</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">(17</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">)</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">(1,846</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">)</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">676</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">(1,170</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">)</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">-</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">(1,170</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">)</font></td></tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; text-indent: -7.1pt; padding-left: 7.1pt"><font style="font-size: 8pt">Quicklime</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">80,707</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">(67,036</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">)</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">13,671</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">-</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">(15,613</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">)</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">-</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">-</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">-</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">-</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">-</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">(183</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">)</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">(2,125</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">)</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">778</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">(1,347</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">)</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">-</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">(1,347</font></td><td style="font-size: 8pt; 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text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td></tr> <tr style="font-size: 8pt; vertical-align: bottom; 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font-weight: bold">&#xa0;</td><td style="font-weight: normal; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: normal; text-align: center"><b>Capital expenditure (**)</b></td><td style="padding-bottom: 1.5pt; font-weight: normal">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Depreciation<br/> and amortization</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Provision of <br/> inventory net <br/> realizable <br/> value and <br/> obsolescence</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">S/(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">2019</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: right">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 16%; text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Cement, concrete and precast</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">2,714,888</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">-</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">2,714,888</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">1,409,596</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">87,086</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">(122,911</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">(2,498</td><td style="width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Construction supplies</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">51,376</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">51,376</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">99,934</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(879</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -7.1pt; padding-left: 7.1pt">Quicklime</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">93,812</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">93,812</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(5,820</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; text-indent: -7.1pt; padding-left: 7.1pt">Other</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">53,258</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">18,224</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">71,482</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">377</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(208</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; padding-bottom: 4pt; text-indent: -7.1pt; padding-left: 7.1pt">Consolidated</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">2,913,334</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">18,224</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">2,931,558</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">1,509,907</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">87,086</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">(129,818</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">(2,498</td><td style="padding-bottom: 4pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -7.1pt; padding-left: 7.1pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">2018</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Cement, concrete and precast</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">2,634,102</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">9,474</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">2,643,576</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,377,769</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">113,365</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(124,070</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(3,808</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Construction supplies</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">29,363</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">29,363</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">34,788</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">284</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(1,100</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; 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text-align: right">1,413,261</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">113,649</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">(129,779</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">(3,808</td><td style="padding-bottom: 4pt; text-align: left">)</td></tr> </table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 48px">&#xa0;</td> <td style="width: 48px; 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As of December 31, 2018 corresponded to the financial investment designated at fair value through OCI and fair value of the derivative financial instruments (cross currency swap) for approximately S/26,883,000 and S/12,268,000, respectively. The fair value of derivative financial instruments of hedging is allocated to the segment of cement, and the financial investment designated at fair value through OCI and fair value of derivate financial instrument from trading are not assigned to any segment.</font></td></tr> </table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"><tr style="vertical-align: top"> <td style="width: 48px"></td><td style="width: 48px">(**)</td><td>Capital expenditure consists of S/87,086,000 and S/113,649,000 during the years ended as of December 31, 2019 and 2018, respectively, and are related to additions of property, plant and equipment, intangible and other minor non-current assets. 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text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">(37</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">)</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">23</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">-</font></td><td style="font-size: 8pt; 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text-align: right"><font style="font-size: 8pt">(43,015</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">)</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">-</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">(87,327</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">)</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">4,945</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">(34,887</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">)</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">(8,227</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">)</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">116,649</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">(41,214</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">)</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">75,435</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">-</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">75,435</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td></tr> <tr style="font-size: 8pt; vertical-align: bottom; "> <td style="font-size: 8pt; text-align: left; text-indent: -7.1pt; padding-left: 7.1pt"><font style="font-size: 8pt">Construction supplies</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">68,982</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">(67,249</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">)</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">1,733</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">(322</font></td><td style="font-size: 8pt; 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text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">(11</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">)</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">25</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">-</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">(26</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">)</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">(220</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">)</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">116</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">(104</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">)</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">-</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">(104</font></td><td style="font-size: 8pt; 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text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">5,251</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">-</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">(2,186</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">)</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">-</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">-</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">-</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">-</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">-</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">(111</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">)</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">2,954</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">(1,043</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">)</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">1,911</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">-</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">1,911</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td></tr> <tr style="font-size: 8pt; vertical-align: bottom; "> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-indent: -7.1pt; padding-left: 7.1pt"><font style="font-size: 8pt">Other (*)</font></td><td style="font-size: 8pt; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; 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text-align: left"><font style="font-size: 8pt">)</font></td></tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; text-indent: -7.1pt; padding-left: 7.1pt"><font style="font-size: 8pt">Quicklime</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">80,707</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">(67,036</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">)</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">13,671</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">-</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">(15,613</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">)</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">-</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">-</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">-</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">-</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">-</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">(183</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">)</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">(2,125</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">)</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">778</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">(1,347</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">)</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; 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text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; 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text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td></tr> <tr style="font-size: 8pt; vertical-align: bottom; "> <td style="font-size: 8pt; padding-bottom: 1.5pt; text-indent: -7.1pt; padding-left: 7.1pt"><font style="font-size: 8pt">Consolidated</font></td><td style="font-size: 8pt; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right"><font style="font-size: 8pt">1,220,750</font></td><td style="font-size: 8pt; 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"> <td style="font-weight: bold; padding-bottom: 4pt; text-indent: -7.1pt; padding-left: 7.1pt">Consolidated</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">2,913,334</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">18,224</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">2,931,558</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">1,509,907</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">87,086</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">(129,818</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">(2,498</td><td style="padding-bottom: 4pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -7.1pt; padding-left: 7.1pt">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">2018</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Cement, concrete and precast</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">2,634,102</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">9,474</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">2,643,576</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,377,769</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">113,365</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(124,070</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(3,808</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -7.1pt; padding-left: 7.1pt">Construction supplies</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">29,363</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">29,363</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">34,788</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">284</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(1,100</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -7.1pt; padding-left: 7.1pt">Quicklime</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">111,072</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">111,072</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(4,433</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; text-indent: -7.1pt; padding-left: 7.1pt">Other</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">50,936</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">29,677</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">80,613</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">704</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(176</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; padding-bottom: 4pt; text-indent: -7.1pt; padding-left: 7.1pt">Consolidated</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">2,825,473</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">39,151</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">2,864,624</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">1,413,261</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">113,649</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">(129,779</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">(3,808</td><td style="padding-bottom: 4pt; text-align: left">)</td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 48px">&#xa0;</td> <td style="width: 48px; font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(*)</font></td> <td style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2019, corresponded to the financial investment designated at fair value through OCI for approximately S/18,224,000. As of December 31, 2018 corresponded to the financial investment designated at fair value through OCI and fair value of the derivative financial instruments (cross currency swap) for approximately S/26,883,000 and S/12,268,000, respectively. The fair value of derivative financial instruments of hedging is allocated to the segment of cement, and the financial investment designated at fair value through OCI and fair value of derivate financial instrument from trading are not assigned to any segment.</font></td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"><tr style="vertical-align: top"> <td style="width: 48px"></td><td style="width: 48px">(**)</td><td>Capital expenditure consists of S/87,086,000 and S/113,649,000 during the years ended as of December 31, 2019 and 2018, respectively, and are related to additions of property, plant and equipment, intangible and other minor non-current assets. During 2019 and 2018, there were no purchases of assets through leases.</td></tr></table> 2714888000 2714888000 1409596000 87086000 122911000 2498000 51376000 51376000 99934000 879000 93812000 93812000 5820000 53258000 18224000 71482000 377000 208000 2913334000 18224000 1509907000 2634102000 9474000 2643576000 1377769000 113365000 124070000 3808000 29363000 29363000 34788000 284000 1100000 111072000 111072000 4433000 50936000 29677000 80613000 704000 176000 2825473000 39151000 1413261000 <table cellpadding="0" cellspacing="0" width="100%" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 28.35pt">32.</td><td>Subsequent event</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 28.35pt">Subsequent to end of the year ended December 31, 2019, the COVID-19 outbreak was declared a pandemic by the World Health Organization in March 2020. We have seen a significant impact on our business to the date of the financial statements. The outbreak and the response of the Peruvian Government in dealing with the pandemic is interfering with general activity levels within the community, the economy and the operations of our business, and in March and April 2020, Peruvian Government issued Supreme Decrees No. 044-2020-PCM, 051-2020-PCM, 064-2020-PCM and 075-2020-PCM with exceptional measures aimed at strengthening the surveillance and response of the sanitary system against COVID-19 in the national territory. However, these extraordinary measures, which includes the closure of our production and selling facilities since March 17, 2020, will have a negative impact on our earnings, cash flows and financial condition.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 28.35pt">It is not possible to estimate the impact of the outbreak&#x2019;s near-term and longer effects or Peruvian Government&#x2019;s varying efforts to combat the outbreak and support businesses. This being the case, we do not consider it practicable to provide a quantitative or qualitative estimate of the potential impact of this outbreak on the Group at this time.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 28.35pt">The financial statements have been prepared based upon conditions existing at December 31, 2019 and considering those events occurring subsequent to that date, that provide evidence of conditions that existed at the end of the reporting period. As the outbreak of COVID-19 occurred after December 31, 2019, its impact is considered an event that is indicative of conditions that arose after the reporting period and accordingly, no adjustments have been made to financial statements as at December 31, 2019 for the impacts of COVID-19.</p><br/>