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The demand deposits interest yield is based on daily bank deposit rates. The short-term deposits were freely available and held in local banks. These short-term deposits are comprising the amounts of S/241,000,000, with annual interest rate between 0.01% and 2.80%, and US$12,500,000 with an annual interest rate of 0.05%. These deposits have maturities of less than three months from the date of their constitution. Trade receivables have current maturity (30 to 90 days) and those that are past-due are interest bearing. As of December 31, 2019, it mainly included accounts receivable from a third party for the sale of regional and local public investment certificates (CIPRL) of S/9,900,000, which were charged in January 2020. 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, 2020 and 2019, is as follows: Movement in the provision for inventory obsolescence value is set forth below: Mining concessions mainly include net acquisition costs of S/15,367,000 related to coal concessions acquired through a purchase option executed from 2011 to 2013. The caption also includes some concessions acquired by the Group for exploration activities related to the cement business. In previous years, the Company’s Management recognized a full impairment related to the total net book value of a closed zinc mining unit which included concession costs, development costs and related facilities and equipment. From this impairment estimate, S/42,858,000 corresponds to concession costs. According to Management’s expectation, the recoverable amount of this zinc mining unit is zero. During the year 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 1.2. As of December 31, 2020 and 2019, the exploration and evaluation assets include 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 projects). As of December 31, 2020, corresponds to the financial investment designated at fair value through OCI of S/692,000 and fair value of derivative financial instruments (“cross currency swap”) of S/42,427,000. As of December 31, 2019 corresponds to the financial investment designated at fair value through OCI for approximately S/18,224,000. 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/55,142,000 and S/87,086,000 during the years ended December 31, 2020 and 2019, respectively, and are related to additions of property, plant and equipment, intangible and other minor non-current assets. false --12-31 true FY 2020 2020-12-31 false false 20-F 0001221029 Yes false 001-35401 Large Accelerated Filer R5 Yes CEMENTOS PACASMAYO SAA false No No 423868449 308912000 68266000 84412000 120530000 18076000 30191000 460610000 519004000 5729000 10339000 877739000 748330000 5215000 4681000 151000 692000 18224000 42247000 2014508000 2100682000 49640000 47366000 4459000 4459000 15618000 7419000 6006000 46000 160000 200000 2138545000 2183228000 3016284000 2931558000 187876000 235384000 65232000 98774000 1531000 1051000 9380000 18518000 265070000 352676000 1203352000 1003130000 1302000 5102000 57000 25341000 7643000 149864000 145099000 1383659000 1157231000 1648729000 1509907000 423868000 423868000 40279000 40279000 121258000 121258000 432779000 432779000 168636000 168636000 -33378000 -19853000 456629000 497200000 1367555000 1421651000 3016284000 2931558000 -1296334000 -1392701000 -1262934000 921048000 905806000 796206000 375286000 486895000 466728000 163369000 174482000 172141000 40153000 44533000 44117000 4346000 2645000 -8697000 199176000 216370000 224955000 176110000 270525000 241773000 2976000 2576000 2367000 88694000 77986000 87338000 5337000 -1491000 2603000 -34887000 -9831000 729000 -8377000 90212000 76172000 125632000 85898000 194353000 116141000 28004000 62306000 40995000 57894000 132047000 75146000 57894000 132047000 76699000 -1553000 57894000 132047000 75146000 0.14 0.31 0.18 -17532000 -8659000 5677000 -5172000 -2554000 1675000 -34887000 -4275000 -1652000 -2556000 201000 -487000 -754000 11612000 -13525000 -7907000 31753000 44369000 124140000 106899000 44369000 124140000 108452000 -1553000 423868000 40279000 -119005000 432779000 160686000 -43699000 611652000 1506560000 148000 1506708000 76699000 76699000 -1553000 4002000 27751000 31753000 4002000 27751000 76699000 108452000 -1553000 7670000 -7670000 1405000 1405000 161396000 161396000 161396000 -2253000 -2253000 -2253000 423868000 40279000 -121258000 432779000 168356000 4002000 -15948000 519285000 1451363000 1451363000 -13000 -13000 -13000 423868000 40279000 -121258000 432779000 168356000 4002000 -15948000 519272000 1451350000 1451350000 132047000 132047000 -6105000 -1802000 -7907000 -6105000 -1802000 132047000 124140000 280000 280000 280000 154119000 154119000 154119000 423868000 40279000 -121258000 432779000 168636000 -2103000 -17750000 497200000 1421651000 57894000 57894000 -12360000 -1165000 -13525000 -12360000 -1165000 57894000 44369000 98465000 98465000 98465000 423868000 40279000 -121258000 432779000 168636000 -14463000 -18915000 456629000 1367555000 85898000 194353000 116141000 139167000 129818000 129779000 88694000 77986000 87338000 6978000 -483000 -392000 5759000 6523000 9495000 2451000 2278000 3808000 1582000 1452000 9717000 -5337000 1491000 -2603000 2976000 2576000 2367000 2591000 -1846000 4599000 34887000 2202000 1887000 742000 38005000 -23391000 -3416000 4761000 -4383000 -1728000 54140000 -97657000 -59637000 3346000 -4220000 -6409000 422079000 284924000 310756000 1838000 2252000 2353000 68444000 47155000 55098000 24108000 34884000 54383000 331365000 205137000 203628000 208990000 47325000 77680000 80214000 5224000 5335000 31052000 4203000 1117000 208990000 4634000 4199000 12441000 3697000 354000 -48421000 -79579000 -98825000 -791270000 -638281000 -656845000 70921000 321000 328000 -674463000 -610999000 -16090000 143623000 120975000 171790000 70921000 15685000 14935000 26443000 1669000 -1458000 -22789000 -572060000 1405000 -43849000 -106842000 -105344000 239095000 18716000 -541000 1551000 483000 392000 49067000 49216000 6978000 -483000 -392000 3401000 7775000 7504000 <table cellpadding="0" cellspacing="0" style="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Corporate information</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in">Cementos Pacasmayo S.A.A. (hereinafter the &#x201c;Company&#x201d;) was incorporated in 1957 and, under the Peruvian General Corporation Law, is an open stock corporation. Its shares are listed on the Lima Stock Exchange and the New York Stock Exchange. The Company is a subsidiary of Inversiones ASPI S.A., which owns 50.01% of the Company&#x2019;s common shares outstanding as of December 31, 2020 and 2019. The Company&#x2019;s registered address is Calle La Colonia No. 150, Urbanizaci&#xf3;n El Vivero, Santiago de Surco, Lima, Peru. All the subsidiaries are domiciled and operate in Peru.</p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company&#x2019;s main activity is the production and marketing of cement, blocks, concrete and quicklime in La Libertad region, in the North of Peru.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in">The issuance of the consolidated financial statements of the Company and its subsidiaries (hereinafter the &#x201c;Group&#x201d;) for the year ended December 31, 2020 was authorized by the Company&#x2019;s Board of Directors held on April 29, 2021. The consolidated financial statements as of December 31, 2019 and for the year ended that date were approved by the General Shareholders&#x2019; Meeting held on July 9, 2020.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in">As of December 31, 2020 and 2019, the consolidated financial statements comprise 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. (on liquidation). As of these dates, the Company maintains a 100% interest in all its subsidiaries.</p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The main activities of the subsidiaries incorporated in the consolidated financial statements are described as follows:</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"><font style="font-family: Times New Roman, Times, Serif">-</font></td><td style="text-align: justify">Cementos Selva S.A. is engaged in production and marketing of cement and other construction materials in the northeast region of Peru. Also, it owns 100% 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" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="text-align: justify; width: 0.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif">-</font></td><td style="text-align: justify">Distribuidora Norte Pacasmayo S.R.L. is mainly engaged in selling cement produced by the Company. Additionally, it produces and sells precast cement products, cement bricks and ready-mix concrete. In May 2017, the Company 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" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="text-align: justify; width: 0.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Empresa de Transmisi&#xf3;n Guadalupe S.A.C. is mainly engaged in providing electric energy transmission services to the Company.</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="text-align: justify; width: 0.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif">-</font></td><td style="text-align: justify">Salmueras Sudamericanas S.A.(&#x201c;Salmueras&#x201d;). In December 2017, the Company decided to discontinue the activities related to the Salmueras project.</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="text-align: justify; width: 0.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif">-</font></td><td style="text-align: justify">Calizas del Norte S.A.C. (in liquidation). On May 31, 2016, the Company decided to liquidate this subsidiary.</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="text-align: justify; width: 0.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif">-</font></td><td style="text-align: justify">Soluciones Takay S.A.C. was constituted on March 29, 2019. Its corporate purpose is to provide advisory services and information, promotion, acquisition and intermediation services for the management and development of real estate projects by natural and/or legal persons.</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="text-align: justify; width: 0.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.1</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">COVID 19 -</font></td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-indent: 0pt">COVID<font style="font-family: Times New Roman, Times, Serif">-</font>19, an infectious disease caused by a new virus, was declared a world<font style="font-family: Times New Roman, Times, Serif">-</font>wide pandemic by the World Health Organization (&#x201c;WHO&#x201d;) on March 11, 2020. The measures to slow the spread of COVID<font style="font-family: Times New Roman, Times, Serif">-</font>19 have had a significant impact on the global economy.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On March 15, 2020, the Peruvian government declared a nationwide state of emergency, effectively shutting down all business considered non-essential (with exception of food production and commercialization, pharmaceuticals and health). As a result, since that date, we shut-down our three plants until the Peruvian government allowed us to restart production and commercial activities on May 20, 2020.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in">On January 26, 2021, the Government has decided to extend the nationwide state of emergency for 28 calendar days from February 1, 2021 to February 28, 2021 in order to continue with prevention, control and health care actions for the protection of the population of the country.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in">During the shutdown, the Company was unable to generate income; however, the Company largely returned to the operating levels prior to the shutdown as of August 2020. The Group has prepared the financial statements for the year ended December 31, 2020 on a going concern basis, which assumes continuity of current business activities and the realization of assets and settlement of liabilities in the ordinary course of business.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in">Regarding financial obligations, we have not yet seen any changes in our access to or cost of funding, however, at the beginning of the nationwide state of emergency we drew on a bank overdraft line and short-term loans as a precautionary measure in order to cover our working capital needs witch were replaced with two loans each of US$18,000,000 with maturity in July 2021 and annual interest rate of 2.50% and two loans each of S/79,500,000 with maturity in January 2022 and annual interest rate of 2.92%. As of December 31, 2020, one of the US$18,000,000 loans was repaid.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has taken various measures to preserve the health of its employees and to prevent contagion in its administrative and operational areas, such as remote work, rigorous cleaning of work environments, distribution of personal protective equipment, test of suspicious cases and body temperature measurement.</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="text-align: justify; width: 0.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.2</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Business combination - </i></font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The asset&#x2019;s purchase was classified as the acquisition of a business in accordance with the IFRS 3 &#x201c;Business Combinations&#x201d; and was recorded using the &#x201c;Acquisition&#x201d; method reflecting their fair values 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: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="vertical-align: bottom; font-weight: bold; text-align: center">&#xa0;</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom">&#xa0;</td> <td colspan="2" style="vertical-align: bottom; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Fair value</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="vertical-align: top; text-align: center">S/(000)</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: -0.125in; padding-left: 0.125in">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; text-indent: -0.125in; padding-left: 0.125in">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; text-indent: -0.125in; padding-left: 0.125in">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; text-indent: -0.125in; padding-left: 0.125in">Deferred income tax asset</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; padding-bottom: 1.5pt; 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; text-indent: -0.125in; padding-left: 0.125in">&#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; text-indent: -0.125in; padding-left: 0.125in">&#xa0;</td><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: -0.125in; padding-left: 0.125in">Goodwill, note 12</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; padding-bottom: 1.5pt; 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; text-indent: -0.125in; padding-left: 0.125in">&#xa0;</td><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: 2pt; text-indent: -0.125in; padding-left: 0.125in">Total assets acquired</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">41,075</td><td style="padding-bottom: 2pt; text-align: left">&#xa0;</td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in"><font style="font: 10pt Times New Roman, Times, Serif">The methodology used to determine the fair values at the acquisition date for each of the items evaluated was the following:</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="text-align: justify; width: 1in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inventories -</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The fair value corresponded to the estimated sale price, less the estimated costs to carry out the sale.</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="text-align: justify; width: 1in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fixed assets -</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the determination of the fair value of the fixed assets, technical reports prepared by an independent appraiser were used.</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="text-align: justify; width: 1in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Brand and other intangibles -</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The fair values 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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 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"></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 asset 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 cash flow and the &#x201c;Relief from Royalty&#x201d; (RFR) method, which estimates the cash flows the Company saves for the payment of royalties if it did not own the brand.</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="text-align: justify; width: 1in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iv)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Goodwill -</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 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 the 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/> Cementos Pacasmayo S.A.A. (hereinafter the &#x201c;Company&#x201d;) was incorporated in 1957 and, under the Peruvian General Corporation Law, is an open stock corporation. Its shares are listed on the Lima Stock Exchange and the New York Stock Exchange. 0.5001 0.5001 1.00 1.00 the beginning of the nationwide state of emergency we drew on a bank overdraft line and short-term loans as a precautionary measure in order to cover our working capital needs witch were replaced with two loans each of US$18,000,000 with maturity in July 2021 and annual interest rate of 2.50% and two loans each of S/79,500,000 with maturity in January 2022 and annual interest rate of 2.92%. 18000000 12335000 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="vertical-align: bottom; font-weight: bold; text-align: center">&#xa0;</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom">&#xa0;</td> <td colspan="2" style="vertical-align: bottom; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Fair value</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="vertical-align: top; text-align: center">S/(000)</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: -0.125in; padding-left: 0.125in">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; text-indent: -0.125in; padding-left: 0.125in">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; text-indent: -0.125in; padding-left: 0.125in">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; text-indent: -0.125in; padding-left: 0.125in">Deferred income tax asset</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; padding-bottom: 1.5pt; 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; text-indent: -0.125in; padding-left: 0.125in">&#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; text-indent: -0.125in; padding-left: 0.125in">&#xa0;</td><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: -0.125in; padding-left: 0.125in">Goodwill, note 12</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; padding-bottom: 1.5pt; 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; text-indent: -0.125in; padding-left: 0.125in">&#xa0;</td><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: 2pt; text-indent: -0.125in; padding-left: 0.125in">Total assets acquired</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">41,075</td><td style="padding-bottom: 2pt; text-align: left">&#xa0;</td></tr> </table> 6849000 2749000 25152000 1866000 36616000 4459000 41075000 <table cellpadding="0" cellspacing="0" style="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Significant accounting policies</font></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="text-align: justify; width: 0.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.1</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basis of preparation -</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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).</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 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 where otherwise indicated.</p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 2020 that did not require the restatement of previous financial statements, as explained in note 2.3.19.</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; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.2</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basis of consolidation -</font></td> </tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The consolidated financial statements comprise the financial statements of the Company and its subsidiaries as of December 31, 2020 and 2019 and for the three years ended December 31, 2020. 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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 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&#x2019;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="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A change in the ownership interest of a subsidiary, without a loss of control, is accounted for as an equity transaction.</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="text-align: justify; width: 0.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.3</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Summary of significant accounting policies -</font></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="text-align: justify; width: 1in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.3.1</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash and cash equivalents -</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</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="text-align: justify; width: 1in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.3.2</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments-initial recognition and subsequent measurement -</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</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="text-align: justify; width: 1.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial assets -</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Initial recognition and measurement -</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Group&#x2019;s financial assets include cash and cash equivalents, commercial and other receivables, available-for-sale financial investments and derivative financial instruments.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subsequent measurement -</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For purposes of subsequent measurement, financial assets are classified into the following categories:</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="text-align: justify; width: 2in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial assets at amortized cost (debt instruments).</font></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="text-align: justify; width: 2in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial assets at fair value through OCI with recycling of cumulative gains and losses (debt instruments).</font></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="text-align: justify; width: 2in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial assets designated at fair value through OCI with not recycling of cumulative gains and losses upon derecognition (equity instruments).</font></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="text-align: justify; width: 2in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial assets at fair value through profit or loss.</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The classification depends on the business model of the Company and the contractual terms of the cash flows.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Financial assets at amortized cost (debt instruments) -</i></font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Group measures financial assets at amortized cost if both of the following conditions are met:</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: 2in"></td><td style="width: 0.5in">-</td><td style="text-align: justify">The financial asset is held within a business model with the objective to collect contractual cash flows and not for sale or to trade it</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="text-align: justify; width: 2in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial assets are not reclassified after their initial recognition, except if the Group changes its business model for its management.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Group&#x2019;s financial assets at amortized cost includes trade and other receivables.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Financial assets at fair value through OCI (debt instruments) -</i></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font: 10pt Times New Roman, Times, Serif">The Group measures debt instruments at fair value through OCI if both of the following conditions are met: </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="text-align: justify; width: 2in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The financial asset is held within a business model with the objective of both holding to collect contractual cash flows and selling, and</font></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="text-align: justify; width: 2in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Group does not have debt instruments classified in this category.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Financial assets at fair value through OCI (equity instruments) -</i></font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.<br style="clear: both"/></font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Group elected to classify irrevocably its non-listed equity investments under this category. See note 9.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Financial assets at fair value through profit or loss -</i></font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31,2020, the Group held assets for trading derivate financial instruments classified in this category. As of December 31, 2019, the Group does not have instruments classified in this category.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Derecognition -</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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:</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; text-align: justify"> <td style="width: 2in"></td><td style="width: 30.6pt; text-align: left"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The rights to receive cash flows from the asset have expired, or</font></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="text-align: justify; width: 2in"></td><td style="text-align: justify; width: 30.6pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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, 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</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">When the Group has transferred its rights to receive cash flows from an asset or has entered 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 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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</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="text-align: justify; width: 1.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Impairment of financial assets -</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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).</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 taking into account 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.</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="text-align: justify; width: 1.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial liabilities -</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Initial recognition and measurement -</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Group&#x2019;s financial liabilities include trade and other payables, interest-bearing loans and borrowings.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subsequent measurement -</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The subsequent measurement of financial liabilities depends on their classification, as described below:</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Financial liabilities at fair value through profit or loss -</i></font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 by the Group that are not designated as hedging instruments in hedge relationships as defined by IFRS 9.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2020, the Group does not have instruments classified in this category. As of December 31, 2019, the Group held liabilities for trading derivatives financial instruments classified in this category.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Loans and borrowings -</i></font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This category includes trade and other payables and interest-bearing loans and borrowings. For more information refer to notes 14 and 16.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Derecognition -</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.<br style="clear: both"/></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="text-align: justify; width: 1.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iv)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Offsetting of financial instruments -</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial assets and 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.</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="text-align: justify; width: 1.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(v)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Derivative financial instruments and hedge accounting -</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Initial recognition and subsequent measurement:</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the purpose of hedge accounting, hedges are classified as:</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="text-align: justify; width: 2in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fair value hedges when hedging the exposure to changes in the fair value of a recognized asset or liability or an unrecognized firm commitment.</font></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="text-align: justify; width: 2in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></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="text-align: justify; width: 2in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Hedges of a net investment in a foreign operation.</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 have been highly effective throughout the financial reporting periods for which they were designated.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A hedging relationship qualifies for hedge accounting if it meets all the following effectiveness requirements:</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="text-align: justify; width: 2in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">There is &#x2018;an economic relationship&#x2019; between the hedged item and the hedging instrument.</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="text-align: justify; width: 2in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The effect of credit risk does not &#x2018;dominate the value changes&#x2019; that result from that economic relationship.</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="text-align: justify; width: 2in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The hedge ratio of the hedging relationship is the same as that resulting from the quantity of the hedged item that the Group hedges and the quantity of the hedging instrument that the Group uses to hedge that quantity of hedged item.</font></td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Hedges that meet all the qualifying criteria for hedge accounting are recorded as cash flow hedges.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash flow hedges </font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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;</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="text-align: justify; width: 1.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(vi)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fair value measurement -</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Group measures financial instruments such as derivatives, and equity investment, at fair value at each balance sheet date.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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:</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="text-align: justify; width: 2in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In the principal market for the asset or liability, or</font></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="text-align: justify; width: 2in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In the absence of a principal market, in the most advantageous market for the asset or liability.</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The principal or the most advantageous market must be accessible by the Group.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A fair value measurement of a non-financial asset takes into account 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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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:</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="text-align: justify; width: 2in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 1 &#x2014; Quoted (unadjusted) market prices in active markets for identical assets or liabilities</font></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="text-align: justify; width: 2in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 2 &#x2014; Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observable</font></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="text-align: justify; width: 2in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 3 &#x2014; Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Group&#x2019;s management determines the policies and procedures for recurring and non-recurring fair value measurements.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At each reporting date, the Financial Management analyzes the changes in the values 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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</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="text-align: justify; width: 1in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.3.3</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Foreign currencies -</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The functional and presentation currency for the consolidated financial statements of the Group is soles, which is also the functional currency for its subsidiaries.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Transactions and balances</i></font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Transactions in foreign currencies are initially recorded at their respective functional currency spot rates at the date the transaction first qualifies for recognition.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</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="text-align: justify; width: 1in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.3.4</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inventories -</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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:</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Raw materials</i></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="text-align: justify; width: 1.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase cost determined using the weighted average method.</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: -0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Finished goods and work in progress</i></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="text-align: justify; width: 1.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Inventory in transit</i></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="text-align: justify; width: 1.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase cost.</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</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="text-align: justify; width: 1in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.3.5</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Borrowing costs -</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</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="text-align: justify; width: 1in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.3.6</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Leases -</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Group as a lessee:</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</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="text-align: justify; width: 1.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">i)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Right of use assets</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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, unless the 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. The leased assets correspond to motorized vehicles whose useful life is 5 years.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The right-of-use assets are subject to impairment assessment. Refer to accounting policies in section 2.3.12.</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="text-align: justify; width: 1.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ii)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Lease liabilities</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Group&#x2019;s lease liabilities are included in &#x201c;lease liabilities&#x201d; in the consolidated statement of financial position.</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="text-align: justify; width: 1.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">iii)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Short-term leases and leases of low-value assets</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Group as a lessor:</i></font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</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="text-align: justify; width: 1in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.3.7</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Property, plant and equipment -</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.<br style="clear: both"/></font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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. Refer to significant accounting judgments, estimates and assumptions (note 3) and quarry rehabilitation cost provisions (note 15).</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Depreciation of assets is determined using the straight-line method over the estimated useful lives of such assets as follows:</font></p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; font-weight: bold; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; font-weight: bold; text-align: center">Years</td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; font-weight: bold; text-align: left">Buildings and other constructions:</td><td>&#xa0;</td> <td style="vertical-align: top; text-align: center">&#xa0;</td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left">Administrative facilities</td><td>&#xa0;</td> <td style="vertical-align: top; text-align: center">Between 20 and 51</td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left">Main production structures</td><td>&#xa0;</td> <td style="vertical-align: top; text-align: center">Between 20 and 56</td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left">Minor production structures</td><td>&#xa0;</td> <td style="vertical-align: top; text-align: center">Between 20 and 35</td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; font-weight: bold; text-align: left">Machinery and equipment:</td><td>&#xa0;</td> <td style="vertical-align: top; text-align: center">&#xa0;</td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left">Mills and horizontal furnaces</td><td>&#xa0;</td> <td style="vertical-align: top; text-align: center">Between 24 and 45</td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left">Vertical furnaces, crushers and grinders</td><td>&#xa0;</td> <td style="vertical-align: top; text-align: center">Between 23 and 36</td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left">Electricity facilities and other minors</td><td>&#xa0;</td> <td style="vertical-align: top; text-align: center">Between 10 and 35</td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; width: 83%; text-align: left">Furniture and fixtures</td><td style="width: 1%">&#xa0;</td> <td style="vertical-align: top; width: 15%; text-align: center">10</td> <td style="width: 1%">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; font-weight: bold; text-align: left">Transportation units:</td><td>&#xa0;</td> <td style="vertical-align: top; text-align: center">&#xa0;</td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left">Heavy units</td><td>&#xa0;</td> <td style="vertical-align: top; text-align: center">Between 5 and 15</td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left">Light units</td><td>&#xa0;</td> <td style="vertical-align: top; text-align: center">Between 5 and 10</td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; font-weight: bold; text-align: left">Computer equipment</td><td>&#xa0;</td> <td style="vertical-align: top; text-align: center">Between 3 and 10</td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; font-weight: bold; text-align: left">Tools</td><td>&#xa0;</td> <td style="vertical-align: top; text-align: center">Between 5 and 10</td> <td>&#xa0;</td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The asset&#x2019;s residual value, useful lives and methods of depreciation are reviewed at each reporting period and adjusted prospectively if appropriate.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</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="text-align: justify; width: 1in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.3.8</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mining concessions -</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 the &#x201c;property, plant and equipment&#x201d; caption of consolidated statement of financial position. Those mining concessions are amortized following the straight-line method. In the event the Group abandons the concession, the costs associated are written-off in the consolidated statement of profit or loss.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2020 and 2019, mining concessions of the Group correspond to areas that contain raw material necessary for cement production.</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="text-align: justify; width: 1in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.3.9</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Quarry development costs and stripping costs -</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Quarry development costs -</i></font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Stripping costs -</i></font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stripping costs incurred subsequently during the production phase of its operation are recorded as part of cost of production.</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="text-align: justify; width: 1in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.3.10</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Intangible assets</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The useful lives of intangible assets are assessed as either finite or indefinite.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Intangible assets with finite lives 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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Group&#x2019;s intangible assets with finite useful lives are amortized in an average term of ten years.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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, 2020 and 2019, the Company maintains as intangible assets with an indefinite useful the fair value of the brand acquired in the transaction mentioned in note 1.2.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exploration and evaluation assets -</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exploration and evaluation activity involve the search for mineral resources, the determination of technical feasibility and the assessment of commercial viability of an identified resource. Exploration and evaluation activity include:</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="text-align: justify; width: 1.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Researching and analyzing historical exploration data.</font></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="text-align: justify; width: 1.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Gathering exploration data through geophysical studies.</font></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="text-align: justify; width: 1.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exploratory drilling and sampling.</font></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="text-align: justify; width: 1.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Determining and examining the volume and grade of the resource.</font></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="text-align: justify; width: 1.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Surveying transportation and infrastructure requirements.</font></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="text-align: justify; width: 1.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Conducting market and finance studies.</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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:</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="text-align: justify; width: 1.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</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="text-align: justify; width: 1.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">substantive expenditure on further exploration for and evaluation of mineral resources in the specific area is neither budgeted nor planned.</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="text-align: justify; width: 1.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</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="text-align: justify; width: 1.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iv)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 of successful development or by sale.</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="text-align: justify; width: 1in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.3.11</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ore reserve and resource estimates -</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 quarry rehabilitation and depreciation and amortization charges.</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="text-align: justify; width: 1in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.3.12</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Impairment of non-financial assets -</font></td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Group supports its impairment calculation on detailed budgets and forecast calculations, which are prepared separately for each of the Group&#x2019;s CGUs to which the individual assets are allocated.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exploration and evaluation assets are tested for impairment annually as of December 31, either individually or at the CGU level, as appropriate, and when circumstances indicate that the carrying value may be impaired.</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="text-align: justify; width: 1in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.3.13</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Provisions -</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>General -</i></font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Quarry rehabilitation provision -</i></font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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. Quarry 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. 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 quarry 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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Environmental expenditures and liabilities -</i></font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</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="text-align: justify; width: 1in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.3.14</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Employees benefits -</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</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="text-align: justify; width: 1in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.3.15</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revenue recognition -</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The group is dedicated to the production and trading of cement, blocks, 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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revenue is measured at the fair value of the consideration received or receivable, considering contractually defined terms of payment and excluding taxes or duty.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following specific recognition criteria must also be met before revenue is recognized:</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Sales of goods -</i></font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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).</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Rendering of services -</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In the business segments cement, quicklime, concrete, blocks and construction supplies, the Group provides transportation services. These services are sold together with the sale of the goods to the customer.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Transportation services are satisfied when the transport service is concluded, which coincides with the moment of delivery of the goods to the customers.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Operating lease income -</i></font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Income from operating lease of land and office was recognized on a monthly accrual basis during the term of the lease.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Interest income -</i></font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</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="text-align: justify; width: 1in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.3.16</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Taxes -</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Current income tax -</i></font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Deferred tax -</i></font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Deferred tax is provided using the balance sheet method on temporary differences between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes at the reporting date.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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. </font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Mining royalties -</i></font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</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="text-align: justify; width: 1in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.3.17</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investment shares holds in treasury -</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Own 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.</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="text-align: justify; width: 1in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.3.18</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Business combinations and goodwill -</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Goodwill</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in">Goodwill is the excess of the aggregate of the consideration transferred on the assets&#x2019; acquisitions mentioned in note 1.2, over the fair value of the acquired assets.</p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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 CGUs that are expected to benefit from the combination, irrespective of whether other assets or liabilities of the acquire are assigned to those units.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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 CGUs related to it. When the recoverable amount of the CGUs 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="text-align: justify; width: 1in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.3.19</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">New amended standards and interpretations -</font></td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in">The Group applied for the first-time certain standards and amendments which are effective for annual periods beginning on or after January 1, 2020. The Group has not early-adopted any other standard, interpretation or amendment that has been issued but is not yet effective.</p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Amendments to IFRS 3: Definition of Business </i></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in">The amendment to IFRS 3 &#x201c;Business Combinations&#x201d; clarifies that to be considered a business, an integrated set of activities and assets must include, at a minimum, an input and a substantive process that, together, significantly contribute to the ability to create output. Furthermore, it clarifies that a business can exist without including all of the inputs and processes needed to create outputs. These amendments had no impact on the consolidated financial statements of the Group, but may impact future periods should the Group enter into any business combinations.</p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Amendments to IFRS 7, IFRS 9 and IAS 39 Interest Rate Benchmark Reform</i></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in">The amendments to IFRS 9 and IAS 39 &#x201c;Financial Instruments: Recognition and Measurement&#x201d; provide a number of reliefs, which apply to all hedging relationships that are directly affected by interest rate benchmark reform to &#x201c;LIBOR&#x201d;. A hedging relationship is affected if the reform gives rise to uncertainty about the timing and/or amount of benchmark-based cash flows of the hedged item or the hedging instrument. These amendments have no impact on the consolidated financial statements of the Group since it does not have financial debt agreed with the reference interest rate &#x201c;LIBOR&#x201d; or associated hedging relationships.</p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Amendments to IAS 1 and IAS 8 Definition of material</i></font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The amendments provide a new definition of material that states, &#x201c;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.&#x201d; The amendments clarify that materiality will depend on the nature or magnitude of information, either individually or in combination with other information, in the context of the financial statements. A misstatement of information is material if it could reasonably be expected to influence decisions made by the primary users. These amendments had no impact on the consolidated financial statements of, nor is there expected to be any future impact to the Group.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><i>Conceptual Framework for Financial Reporting issued on March 29, 2018</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Conceptual Framework is not a standard, and none of the concepts contained therein override the concepts or requirements in any standard. The purpose of the Conceptual Framework is to assist the IASB in developing standards, to help preparers develop consistent accounting policies where there is no applicable standard in place and to assist all parties to understand and interpret the standards. This will affect those entities which developed their accounting policies based on the Conceptual Framework. The revised Conceptual Framework includes some new concepts, updated definitions and recognition criteria for assets and liabilities and clarifies some important concepts. These amendments had no impact on the consolidated financial statements of the Group.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Amendments to IFRS 16 COVID-19 Related Rent Concessions </i></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in">On May 28, 2020, the IASB issued Covid-19-Related Rent Concessions - amendment to IFRS 16 &#x201c;Leases&#x201d;. The amendments provide relief to lessees from applying IFRS 16 guidance on lease modification accounting for rent concessions arising as a direct consequence of the Covid-19 pandemic. As a practical expedient, a lessee may elect not to assess whether a Covid-19 related rent concession from a lessor is a lease modification. A lessee that makes this election accounts for any change in lease payments resulting from the Covid-19 related rent concession the same way it would account for the change under IFRS 16, if the change were not a lease modification.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in">The amendment applies to annual reporting periods beginning on or after June 1, 2020. Earlier application is permitted. This amendment had no impact on the consolidated financial statements of the Group.</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="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.1</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basis of preparation -</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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).</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 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 where otherwise indicated.</p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 2020 that did not require the restatement of previous financial statements, as explained in note 2.3.19.</font></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; text-align: justify"><td style="width: 0.5in; text-align: left"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.2</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basis of consolidation -</font></td> </tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The consolidated financial statements comprise the financial statements of the Company and its subsidiaries as of December 31, 2020 and 2019 and for the three years ended December 31, 2020. 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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 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&#x2019;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="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A change in the ownership interest of a subsidiary, without a loss of control, is accounted for as an equity transaction.</font></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="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.3.1</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash and cash equivalents -</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></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="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.3.2</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments-initial recognition and subsequent measurement -</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</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="text-align: justify; width: 1.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial assets -</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Initial recognition and measurement -</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Group&#x2019;s financial assets include cash and cash equivalents, commercial and other receivables, available-for-sale financial investments and derivative financial instruments.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subsequent measurement -</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For purposes of subsequent measurement, financial assets are classified into the following categories:</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="text-align: justify; width: 2in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial assets at amortized cost (debt instruments).</font></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="text-align: justify; width: 2in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial assets at fair value through OCI with recycling of cumulative gains and losses (debt instruments).</font></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="text-align: justify; width: 2in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial assets designated at fair value through OCI with not recycling of cumulative gains and losses upon derecognition (equity instruments).</font></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="text-align: justify; width: 2in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial assets at fair value through profit or loss.</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The classification depends on the business model of the Company and the contractual terms of the cash flows.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Financial assets at amortized cost (debt instruments) -</i></font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Group measures financial assets at amortized cost if both of the following conditions are met:</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: 2in"></td><td style="width: 0.5in">-</td><td style="text-align: justify">The financial asset is held within a business model with the objective to collect contractual cash flows and not for sale or to trade it</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="text-align: justify; width: 2in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial assets are not reclassified after their initial recognition, except if the Group changes its business model for its management.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Group&#x2019;s financial assets at amortized cost includes trade and other receivables.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Financial assets at fair value through OCI (debt instruments) -</i></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font: 10pt Times New Roman, Times, Serif">The Group measures debt instruments at fair value through OCI if both of the following conditions are met: </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="text-align: justify; width: 2in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The financial asset is held within a business model with the objective of both holding to collect contractual cash flows and selling, and</font></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="text-align: justify; width: 2in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Group does not have debt instruments classified in this category.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Financial assets at fair value through OCI (equity instruments) -</i></font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.<br style="clear: both"/></font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Group elected to classify irrevocably its non-listed equity investments under this category. See note 9.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Financial assets at fair value through profit or loss -</i></font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31,2020, the Group held assets for trading derivate financial instruments classified in this category. As of December 31, 2019, the Group does not have instruments classified in this category.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Derecognition -</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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:</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; text-align: justify"> <td style="width: 2in"></td><td style="width: 30.6pt; text-align: left"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The rights to receive cash flows from the asset have expired, or</font></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="text-align: justify; width: 2in"></td><td style="text-align: justify; width: 30.6pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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, 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</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">When the Group has transferred its rights to receive cash flows from an asset or has entered 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 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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</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="text-align: justify; width: 1.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Impairment of financial assets -</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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).</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 taking into account 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.</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="text-align: justify; width: 1.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial liabilities -</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Initial recognition and measurement -</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Group&#x2019;s financial liabilities include trade and other payables, interest-bearing loans and borrowings.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subsequent measurement -</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The subsequent measurement of financial liabilities depends on their classification, as described below:</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Financial liabilities at fair value through profit or loss -</i></font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 by the Group that are not designated as hedging instruments in hedge relationships as defined by IFRS 9.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2020, the Group does not have instruments classified in this category. As of December 31, 2019, the Group held liabilities for trading derivatives financial instruments classified in this category.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Loans and borrowings -</i></font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This category includes trade and other payables and interest-bearing loans and borrowings. For more information refer to notes 14 and 16.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Derecognition -</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.<br style="clear: both"/></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="text-align: justify; width: 1.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iv)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Offsetting of financial instruments -</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial assets and 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.</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="text-align: justify; width: 1.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(v)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Derivative financial instruments and hedge accounting -</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Initial recognition and subsequent measurement:</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the purpose of hedge accounting, hedges are classified as:</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="text-align: justify; width: 2in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fair value hedges when hedging the exposure to changes in the fair value of a recognized asset or liability or an unrecognized firm commitment.</font></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="text-align: justify; width: 2in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></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="text-align: justify; width: 2in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Hedges of a net investment in a foreign operation.</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 have been highly effective throughout the financial reporting periods for which they were designated.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A hedging relationship qualifies for hedge accounting if it meets all the following effectiveness requirements:</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="text-align: justify; width: 2in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">There is &#x2018;an economic relationship&#x2019; between the hedged item and the hedging instrument.</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="text-align: justify; width: 2in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The effect of credit risk does not &#x2018;dominate the value changes&#x2019; that result from that economic relationship.</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="text-align: justify; width: 2in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The hedge ratio of the hedging relationship is the same as that resulting from the quantity of the hedged item that the Group hedges and the quantity of the hedging instrument that the Group uses to hedge that quantity of hedged item.</font></td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Hedges that meet all the qualifying criteria for hedge accounting are recorded as cash flow hedges.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash flow hedges </font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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;</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="text-align: justify; width: 1.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(vi)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fair value measurement -</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Group measures financial instruments such as derivatives, and equity investment, at fair value at each balance sheet date.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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:</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="text-align: justify; width: 2in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In the principal market for the asset or liability, or</font></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="text-align: justify; width: 2in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In the absence of a principal market, in the most advantageous market for the asset or liability.</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The principal or the most advantageous market must be accessible by the Group.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A fair value measurement of a non-financial asset takes into account 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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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:</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="text-align: justify; width: 2in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 1 &#x2014; Quoted (unadjusted) market prices in active markets for identical assets or liabilities</font></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="text-align: justify; width: 2in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 2 &#x2014; Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observable</font></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="text-align: justify; width: 2in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 3 &#x2014; Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Group&#x2019;s management determines the policies and procedures for recurring and non-recurring fair value measurements.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At each reporting date, the Financial Management analyzes the changes in the values 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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></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="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.3.3</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Foreign currencies -</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The functional and presentation currency for the consolidated financial statements of the Group is soles, which is also the functional currency for its subsidiaries.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Transactions and balances</i></font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Transactions in foreign currencies are initially recorded at their respective functional currency spot rates at the date the transaction first qualifies for recognition.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></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="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.3.4</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inventories -</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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:</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Raw materials</i></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="text-align: justify; width: 1.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase cost determined using the weighted average method.</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: -0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Finished goods and work in progress</i></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="text-align: justify; width: 1.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Inventory in transit</i></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="text-align: justify; width: 1.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase cost.</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></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="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.3.5</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Borrowing costs -</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></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="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.3.6</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Leases -</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Group as a lessee:</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</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="text-align: justify; width: 1.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">i)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Right of use assets</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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, unless the 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. The leased assets correspond to motorized vehicles whose useful life is 5 years.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The right-of-use assets are subject to impairment assessment. Refer to accounting policies in section 2.3.12.</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="text-align: justify; width: 1.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ii)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Lease liabilities</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Group&#x2019;s lease liabilities are included in &#x201c;lease liabilities&#x201d; in the consolidated statement of financial position.</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="text-align: justify; width: 1.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">iii)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Short-term leases and leases of low-value assets</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Group as a lessor:</i></font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></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="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.3.7</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Property, plant and equipment -</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.<br style="clear: both"/></font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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. Refer to significant accounting judgments, estimates and assumptions (note 3) and quarry rehabilitation cost provisions (note 15).</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Depreciation of assets is determined using the straight-line method over the estimated useful lives of such assets as follows:</font></p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; font-weight: bold; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; font-weight: bold; text-align: center">Years</td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; font-weight: bold; text-align: left">Buildings and other constructions:</td><td>&#xa0;</td> <td style="vertical-align: top; text-align: center">&#xa0;</td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left">Administrative facilities</td><td>&#xa0;</td> <td style="vertical-align: top; text-align: center">Between 20 and 51</td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left">Main production structures</td><td>&#xa0;</td> <td style="vertical-align: top; text-align: center">Between 20 and 56</td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left">Minor production structures</td><td>&#xa0;</td> <td style="vertical-align: top; text-align: center">Between 20 and 35</td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; font-weight: bold; text-align: left">Machinery and equipment:</td><td>&#xa0;</td> <td style="vertical-align: top; text-align: center">&#xa0;</td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left">Mills and horizontal furnaces</td><td>&#xa0;</td> <td style="vertical-align: top; text-align: center">Between 24 and 45</td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left">Vertical furnaces, crushers and grinders</td><td>&#xa0;</td> <td style="vertical-align: top; text-align: center">Between 23 and 36</td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left">Electricity facilities and other minors</td><td>&#xa0;</td> <td style="vertical-align: top; text-align: center">Between 10 and 35</td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; width: 83%; text-align: left">Furniture and fixtures</td><td style="width: 1%">&#xa0;</td> <td style="vertical-align: top; width: 15%; text-align: center">10</td> <td style="width: 1%">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; font-weight: bold; text-align: left">Transportation units:</td><td>&#xa0;</td> <td style="vertical-align: top; text-align: center">&#xa0;</td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left">Heavy units</td><td>&#xa0;</td> <td style="vertical-align: top; text-align: center">Between 5 and 15</td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left">Light units</td><td>&#xa0;</td> <td style="vertical-align: top; text-align: center">Between 5 and 10</td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; font-weight: bold; text-align: left">Computer equipment</td><td>&#xa0;</td> <td style="vertical-align: top; text-align: center">Between 3 and 10</td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; font-weight: bold; text-align: left">Tools</td><td>&#xa0;</td> <td style="vertical-align: top; text-align: center">Between 5 and 10</td> <td>&#xa0;</td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The asset&#x2019;s residual value, useful lives and methods of depreciation are reviewed at each reporting period and adjusted prospectively if appropriate.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></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="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.3.8</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mining concessions -</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 the &#x201c;property, plant and equipment&#x201d; caption of consolidated statement of financial position. Those mining concessions are amortized following the straight-line method. In the event the Group abandons the concession, the costs associated are written-off in the consolidated statement of profit or loss.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2020 and 2019, mining concessions of the Group correspond to areas that contain raw material necessary for cement production.</font></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="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.3.9</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Quarry development costs and stripping costs -</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Quarry development costs -</i></font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Stripping costs -</i></font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stripping costs incurred subsequently during the production phase of its operation are recorded as part of cost of production.</font></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="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.3.10</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Intangible assets</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The useful lives of intangible assets are assessed as either finite or indefinite.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Intangible assets with finite lives 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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Group&#x2019;s intangible assets with finite useful lives are amortized in an average term of ten years.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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, 2020 and 2019, the Company maintains as intangible assets with an indefinite useful the fair value of the brand acquired in the transaction mentioned in note 1.2.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exploration and evaluation assets -</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exploration and evaluation activity involve the search for mineral resources, the determination of technical feasibility and the assessment of commercial viability of an identified resource. Exploration and evaluation activity include:</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="text-align: justify; width: 1.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Researching and analyzing historical exploration data.</font></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="text-align: justify; width: 1.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Gathering exploration data through geophysical studies.</font></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="text-align: justify; width: 1.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exploratory drilling and sampling.</font></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="text-align: justify; width: 1.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Determining and examining the volume and grade of the resource.</font></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="text-align: justify; width: 1.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Surveying transportation and infrastructure requirements.</font></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="text-align: justify; width: 1.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Conducting market and finance studies.</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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:</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="text-align: justify; width: 1.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</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="text-align: justify; width: 1.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">substantive expenditure on further exploration for and evaluation of mineral resources in the specific area is neither budgeted nor planned.</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="text-align: justify; width: 1.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</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="text-align: justify; width: 1.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iv)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 of successful development or by sale</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: top"><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.3.11</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ore reserve and resource estimates -</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 quarry rehabilitation and depreciation and amortization charges.</font></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="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.3.12</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Impairment of non-financial assets -</font></td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Group supports its impairment calculation on detailed budgets and forecast calculations, which are prepared separately for each of the Group&#x2019;s CGUs to which the individual assets are allocated.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exploration and evaluation assets are tested for impairment annually as of December 31, either individually or at the CGU level, as appropriate, and when circumstances indicate that the carrying value may be impaired.</font></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="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.3.13</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Provisions -</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>General -</i></font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Quarry rehabilitation provision -</i></font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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. Quarry 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. 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 quarry 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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Environmental expenditures and liabilities -</i></font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></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="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.3.14</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Employees benefits -</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></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="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.3.15</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revenue recognition -</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The group is dedicated to the production and trading of cement, blocks, 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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revenue is measured at the fair value of the consideration received or receivable, considering contractually defined terms of payment and excluding taxes or duty.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following specific recognition criteria must also be met before revenue is recognized:</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Sales of goods -</i></font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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).</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Rendering of services -</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In the business segments cement, quicklime, concrete, blocks and construction supplies, the Group provides transportation services. These services are sold together with the sale of the goods to the customer.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Transportation services are satisfied when the transport service is concluded, which coincides with the moment of delivery of the goods to the customers.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Operating lease income -</i></font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Income from operating lease of land and office was recognized on a monthly accrual basis during the term of the lease.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Interest income -</i></font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></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="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.3.16</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Taxes -</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Current income tax -</i></font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Deferred tax -</i></font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Deferred tax is provided using the balance sheet method on temporary differences between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes at the reporting date.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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. </font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Mining royalties -</i></font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></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="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.3.17</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investment shares holds in treasury -</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Own 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.</font></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="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.3.18</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Business combinations and goodwill -</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Goodwill</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in">Goodwill is the excess of the aggregate of the consideration transferred on the assets&#x2019; acquisitions mentioned in note 1.2, over the fair value of the acquired assets.</p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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 CGUs that are expected to benefit from the combination, irrespective of whether other assets or liabilities of the acquire are assigned to those units.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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 CGUs related to it. When the recoverable amount of the CGUs 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="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.3.19</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">New amended standards and interpretations -</font></td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in">The Group applied for the first-time certain standards and amendments which are effective for annual periods beginning on or after January 1, 2020. The Group has not early-adopted any other standard, interpretation or amendment that has been issued but is not yet effective.</p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Amendments to IFRS 3: Definition of Business </i></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in">The amendment to IFRS 3 &#x201c;Business Combinations&#x201d; clarifies that to be considered a business, an integrated set of activities and assets must include, at a minimum, an input and a substantive process that, together, significantly contribute to the ability to create output. Furthermore, it clarifies that a business can exist without including all of the inputs and processes needed to create outputs. These amendments had no impact on the consolidated financial statements of the Group, but may impact future periods should the Group enter into any business combinations.</p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Amendments to IFRS 7, IFRS 9 and IAS 39 Interest Rate Benchmark Reform</i></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in">The amendments to IFRS 9 and IAS 39 &#x201c;Financial Instruments: Recognition and Measurement&#x201d; provide a number of reliefs, which apply to all hedging relationships that are directly affected by interest rate benchmark reform to &#x201c;LIBOR&#x201d;. A hedging relationship is affected if the reform gives rise to uncertainty about the timing and/or amount of benchmark-based cash flows of the hedged item or the hedging instrument. These amendments have no impact on the consolidated financial statements of the Group since it does not have financial debt agreed with the reference interest rate &#x201c;LIBOR&#x201d; or associated hedging relationships.</p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Amendments to IAS 1 and IAS 8 Definition of material</i></font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The amendments provide a new definition of material that states, &#x201c;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.&#x201d; The amendments clarify that materiality will depend on the nature or magnitude of information, either individually or in combination with other information, in the context of the financial statements. A misstatement of information is material if it could reasonably be expected to influence decisions made by the primary users. These amendments had no impact on the consolidated financial statements of, nor is there expected to be any future impact to the Group.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><i>Conceptual Framework for Financial Reporting issued on March 29, 2018</i></p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Conceptual Framework is not a standard, and none of the concepts contained therein override the concepts or requirements in any standard. The purpose of the Conceptual Framework is to assist the IASB in developing standards, to help preparers develop consistent accounting policies where there is no applicable standard in place and to assist all parties to understand and interpret the standards. This will affect those entities which developed their accounting policies based on the Conceptual Framework. The revised Conceptual Framework includes some new concepts, updated definitions and recognition criteria for assets and liabilities and clarifies some important concepts. These amendments had no impact on the consolidated financial statements of the Group.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Amendments to IFRS 16 COVID-19 Related Rent Concessions </i></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in">On May 28, 2020, the IASB issued Covid-19-Related Rent Concessions - amendment to IFRS 16 &#x201c;Leases&#x201d;. The amendments provide relief to lessees from applying IFRS 16 guidance on lease modification accounting for rent concessions arising as a direct consequence of the Covid-19 pandemic. As a practical expedient, a lessee may elect not to assess whether a Covid-19 related rent concession from a lessor is a lease modification. A lessee that makes this election accounts for any change in lease payments resulting from the Covid-19 related rent concession the same way it would account for the change under IFRS 16, if the change were not a lease modification.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in">The amendment applies to annual reporting periods beginning on or after June 1, 2020. Earlier application is permitted. This amendment had no impact on the consolidated financial statements of the Group.</p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; font-weight: bold; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; font-weight: bold; text-align: center">Years</td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; font-weight: bold; text-align: left">Buildings and other constructions:</td><td>&#xa0;</td> <td style="vertical-align: top; text-align: center">&#xa0;</td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left">Administrative facilities</td><td>&#xa0;</td> <td style="vertical-align: top; text-align: center">Between 20 and 51</td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left">Main production structures</td><td>&#xa0;</td> <td style="vertical-align: top; text-align: center">Between 20 and 56</td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left">Minor production structures</td><td>&#xa0;</td> <td style="vertical-align: top; text-align: center">Between 20 and 35</td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; font-weight: bold; text-align: left">Machinery and equipment:</td><td>&#xa0;</td> <td style="vertical-align: top; text-align: center">&#xa0;</td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left">Mills and horizontal furnaces</td><td>&#xa0;</td> <td style="vertical-align: top; text-align: center">Between 24 and 45</td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left">Vertical furnaces, crushers and grinders</td><td>&#xa0;</td> <td style="vertical-align: top; text-align: center">Between 23 and 36</td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left">Electricity facilities and other minors</td><td>&#xa0;</td> <td style="vertical-align: top; text-align: center">Between 10 and 35</td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; width: 83%; text-align: left">Furniture and fixtures</td><td style="width: 1%">&#xa0;</td> <td style="vertical-align: top; width: 15%; text-align: center">10</td> <td style="width: 1%">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; font-weight: bold; text-align: left">Transportation units:</td><td>&#xa0;</td> <td style="vertical-align: top; text-align: center">&#xa0;</td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left">Heavy units</td><td>&#xa0;</td> <td style="vertical-align: top; text-align: center">Between 5 and 15</td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left">Light units</td><td>&#xa0;</td> <td style="vertical-align: top; text-align: center">Between 5 and 10</td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; font-weight: bold; text-align: left">Computer equipment</td><td>&#xa0;</td> <td style="vertical-align: top; text-align: center">Between 3 and 10</td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; font-weight: bold; text-align: left">Tools</td><td>&#xa0;</td> <td style="vertical-align: top; text-align: center">Between 5 and 10</td> <td>&#xa0;</td></tr> </table> Between 20 and 51 Between 20 and 56 Between 20 and 35 Between 24 and 45 Between 23 and 36 Between 10 and 35 P10Y Between 5 and 15 Between 5 and 10 Between 3 and 10 Between 5 and 10 <table cellpadding="0" cellspacing="0" style="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Significant accounting judgments, estimates and assumptions</font></td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0pt"><font style="font-weight: normal">The preparation of the Group&#x2019;s consolidated financial statements requires the Company&#x2019;s 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; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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. The most significant estimate considered by the Company&#x2019;s Management in relation to the consolidated financial statements refers to the evaluation of the impairment indicators of long-lived assets, significant evaluations by Management included construction market growth forecast, market interest rates and the Company&#x2019;s market capitalization.</font></p><br/> <table cellpadding="0" cellspacing="0" style="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Standards issued but not yet effective</font></td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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, through 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" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="text-align: justify; width: 0.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Amendments to IAS 1: Classification of Liabilities as Current or Non-current</i></font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal">In January 2020, the IASB issued amendments to paragraphs 69 to 76 of IAS 1 to specify the requirements for classifying liabilities as current or non-current. The amendments clarify:</font></p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 1in"></td><td style="width: 0.5in; text-align: left"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal">What is meant by a right to defer settlement.</font></td> </tr></table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 1in"></td><td style="width: 0.5in; text-align: left"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal">That a right to defer must exist at the end of the reporting period.</font></td> </tr></table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 1in"></td><td style="width: 0.5in; text-align: left"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal">That classification is unaffected by the likelihood that an entity will exercise its deferral right</font></td> </tr></table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 1in"></td><td style="width: 0.5in; text-align: left"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal">That only if an embedded derivative in a convertible liability is itself an equity instrument would the terms of a liability not impact its classification</font></td> </tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-indent: 0in"><font style="font-weight: normal">The amendments are effective for annual reporting periods beginning on or after January 1, 2023 and must be applied retrospectively. The Group is currently assessing the impact the amendments will have on current practice and whether existing loan agreements may require renegotiation.</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="text-align: justify; width: 0.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Property, Plant and Equipment: Proceeds before Intended Use &#x2013; Amendments to IAS 16</i></font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal">In May 2020, the IASB issued Property, Plant and Equipment &#x2014; Proceeds before Intended Use, which prohibits entities from deducting from the cost of an item of property, plant and equipment, any proceeds from selling items produced while bringing that asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Instead, an entity recognizes the proceeds from selling such items, and the costs of producing those items, in profit or loss.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-indent: 0in"><font style="font-weight: normal">The amendment is effective for annual reporting periods beginning on or after January 1, 2022 and must be applied retrospectively to items of property, plant and equipment made available for use on or after the beginning of the earliest period presented when the entity first applies the amendment.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal">The amendments are not expected to have a material impact on the Group.</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="text-align: justify; width: 0.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Onerous Contracts &#x2013; Costs of Fulfilling a Contract &#x2013; Amendments to IAS 37</i></font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal">In May 2020, the IASB issued amendments to IAS 37 to specify which costs an entity needs to include when assessing whether a contract is onerous or loss-making.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal">The amendments apply a &#x201c;directly related cost approach&#x201d;. The costs that relate directly to a contract to provide goods or services include both incremental costs and an allocation of costs directly related to contract activities. General and administrative costs do not relate directly to a contract and are excluded unless they are explicitly chargeable to the counterparty under the contract.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-indent: 0in"><font style="font-weight: normal">The amendments are effective for annual reporting periods beginning on or after January 1, 2022. The Group will apply these amendments to contracts for which it has not yet fulfilled all its obligations at the beginning of the annual reporting period in which it first applies the amendments. </font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal">The amendments are not expected to have a material impact on the Group.</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="text-align: justify; width: 0.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>IFRS 9 Financial instruments &#x2013; Fees in the &#x2018;10 per cent&#x2019; test for derecognition of financial liabilities</i></font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As part of its 2018-2020 annual improvements to IFRS standards process the IASB issued amendment to IFRS 9<i>. </i>The amendment clarifies the fees that an entity includes when assessing whether the terms of a new or modified financial liability are substantially different from the terms of the original financial liability. These fees include only those paid or received between the borrower and the lender, including fees paid or received by either the borrower or lender on the other&#x2019;s behalf. An entity applies the amendment to financial liabilities that are modified or exchanged on or after the beginning of the annual reporting period in which the entity first applies the amendment.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in">The amendment is effective for annual reporting periods beginning on or after January 1, 2022 with earlier adoption permitted. The Group will apply the amendments to financial liabilities that are modified or exchanged on or after the beginning of the annual reporting period in which the entity first applies the amendment.</p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The amendments are not expected to have a material impact on the Group.</font></p><br/> <table cellpadding="0" cellspacing="0" style="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Transactions in foreign currency</font></td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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 or &#x201c;SBS&#x201d;. As of December 31, 2020, the exchange rates for transactions in United States dollars, published by the SBS, were S/3.618 for purchase and S/3.624 for sale (S/3.311 for purchase and S/3.317 for sale as of December 31, 2019).</p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in">As of December 31, 2020 and 2019, the Group had the following assets and liabilities denominated in United States dollars:</p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in">&#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">2020</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#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">2019</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">US$(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">US$(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in">Assets</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; padding-left: 0.125in; text-indent: -0.125in">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">15,356</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">993</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Trade and other receivables</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">4,587</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Advances to suppliers for work in progress</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">4,242</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">2,586</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">24,185</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">9,320</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-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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; padding-left: 0.125in; text-indent: -0.125in">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; padding-left: 0.125in; text-indent: -0.125in">Trade and other payables</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(11,314</td><td style="text-align: left">)</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></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Interest-bearing loans and borrowings</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">(149,612</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">(157,263</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-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">(160,926</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">(163,238</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Cross currency swap position</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">150,000</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">150,000</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-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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; padding-left: 0.125in; text-indent: -0.125in">Net monetary position</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">13,259</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">(3,918</td><td style="padding-bottom: 2pt; text-align: left">)</td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in">As of December 31, 2020 and 2019, the Group has cash currency hedging agreements for its bonds (denominated in US dollars). See note 16. Of the US$150,000,000 shown in the swap position, there are underlying liabilities in the amount of US$131,612,000. The difference of US$18,388,000 is maintained as derivative financial instruments of negotiation.</p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During 2020, the net loss originated by the exchange difference was approximately S/9,831,000 ( the net gain from exchange difference amounted to S/729,000 during 2019). All these results are presented in the caption &#x201c;(Loss) gain from exchange difference, net&#x201d; of the consolidated statement of income.</font></p><br/> the exchange rates for transactions in United States dollars, published by the SBS, were S/3.618 for purchase and S/3.624 for sale (S/3.311 for purchase and S/3.317 for sale as of December 31, 2019). 150000000 131612000 18388000 9831000 729000 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">US$(000)</td><td>&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center">US$(000)</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in">Assets</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; padding-left: 0.125in; text-indent: -0.125in">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">15,356</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">993</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Trade and other receivables</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">4,587</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Advances to suppliers for work in progress</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">4,242</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">2,586</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">24,185</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">9,320</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-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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; padding-left: 0.125in; text-indent: -0.125in">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; padding-left: 0.125in; text-indent: -0.125in">Trade and other payables</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(11,314</td><td style="text-align: left">)</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></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Interest-bearing loans and borrowings</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">(149,612</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">(157,263</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-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">(160,926</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">(163,238</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Cross currency swap position</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">150,000</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">150,000</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-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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; padding-left: 0.125in; text-indent: -0.125in">Net monetary position</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">13,259</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">(3,918</td><td style="padding-bottom: 2pt; text-align: left">)</td></tr> </table> 15356000 993000 4587000 5741000 4242000 2586000 24185000 9320000 11314000 5975000 149612000 157263000 160926000 163238000 150000000 150000000 13259000 -3918000 <table cellpadding="0" cellspacing="0" style="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="text-align: justify; width: 0%"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash and cash equivalents</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="text-align: justify; width: 0.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This caption was made up as follows:</font></td></tr></table><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in">&#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">2020</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#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">2019</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#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; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left; padding-left: 0.125in; text-indent: -0.125in">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">177</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">149</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Cash at banks (b)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">22,510</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Short-term deposits (c)</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">286,225</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">51,500</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">308,912</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">68,266</td><td style="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="text-align: justify; width: 0.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</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">(c)</td><td style="text-align: justify">The short-term deposits were freely available and held in local banks. These short-term deposits are comprising the amounts of S/241,000,000, with annual interest rate between 0.01% and 2.80%, and US$12,500,000 with an annual interest rate of 0.05%. These deposits have maturities of less than three months from the date of their constitution.</td></tr></table><br/> These short-term deposits are comprising the amounts of S/241,000,000, with annual interest rate between 0.01% and 2.80%, and US$12,500,000 with an annual interest rate of 0.05%. 241000000 12500000 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in">&#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">2020</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#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">2019</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#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; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left; padding-left: 0.125in; text-indent: -0.125in">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">177</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">149</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Cash at banks (b)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">22,510</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Short-term deposits (c)</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">286,225</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">51,500</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">308,912</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">68,266</td><td style="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="text-align: justify; width: 0.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</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: top"> <td style="width: 0.5in"></td><td style="width: 0.5in">(c)</td><td style="text-align: justify">The short-term deposits were freely available and held in local banks. These short-term deposits are comprising the amounts of S/241,000,000, with annual interest rate between 0.01% and 2.80%, and US$12,500,000 with an annual interest rate of 0.05%. These deposits have maturities of less than three months from the date of their constitution.</td></tr></table> 177000 149000 22510000 16617000 286225000 51500000 <table cellpadding="0" cellspacing="0" style="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="text-align: justify; width: 0%"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Trade and other receivables</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="text-align: justify; width: 0.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This caption was made up as follows:</font></td></tr></table><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Current</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Non-current</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in">&#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">2020</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#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">2019</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#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">2020</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#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">2019</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#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; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left; padding-left: 0.125in; text-indent: -0.125in">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">73,366</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">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">-</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; padding-left: 0.125in; text-indent: -0.125in">Accounts receivable from Parent company and affiliates, note 27</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">2,212</td><td style="text-align: left">&#xa0;</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">-</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; padding-left: 0.125in; text-indent: -0.125in">Other accounts receivable (c)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,913</td><td style="text-align: left">&#xa0;</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">-</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></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Other receivables from sale of fixed assets</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,781</td><td style="text-align: left">&#xa0;</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">-</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; padding-left: 0.125in; text-indent: -0.125in">Loans granted</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,624</td><td style="text-align: left">&#xa0;</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">1,688</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">930</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Interests receivables</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,375</td><td style="text-align: left">&#xa0;</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">-</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; padding-left: 0.125in; text-indent: -0.125in">Loans to employees</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">357</td><td style="text-align: left">&#xa0;</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">-</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; padding-left: 0.125in; text-indent: -0.125in">Funds restricted to tax payments</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">346</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Indemnification from insurance</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">231</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; padding-left: 0.125in; text-indent: -0.125in">Allowance for expected credit losses (d)</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">(5,324</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">(3,747</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">-</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-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in">Financial assets classified as receivables (e)</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">77,650</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">115,224</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">1,688</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">1,316</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-left: 0.125in; text-indent: -0.125in">Value-added tax credit</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">6,443</td><td style="text-align: left">&#xa0;</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">3,319</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></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Tax refund receivable</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">319</td><td style="text-align: left">&#xa0;</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">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">9,242</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-left: 0.125in; text-indent: -0.125in">Allowance for expected credit losses (d)</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">(9,034</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">(9,034</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in">Non-financial assets classified as receivables</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">6,762</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">5,306</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">3,527</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">3,365</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">84,412</td><td style="text-align: left">&#xa0;</td><td>&#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="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">5,215</td><td style="text-align: left">&#xa0;</td><td>&#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="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 style="text-align: justify; padding-right: 7.05pt">Trade receivables have current maturity (30 to 90 days) and those that are past-due are 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="text-align: justify; padding-right: 7.05pt">As of December 31, 2019, it mainly included accounts receivable from a third party for the sale of regional and local public investment certificates (CIPRL) of S/9,900,000, which were charged in January 2020.</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="text-align: justify; width: 0.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The movement of the allowance for expected credit losses is as follows:</font></td></tr></table><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.5pt">&#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">2020</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#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">2019</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#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">2018</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#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; background-color: rgb(204,238,255)"> <td style="width: 64%; font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in">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">12,781</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">11,329</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></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Additions</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,582</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Recoveries</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(5</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">(62</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Write-off</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">(11</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-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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; padding-left: 0.125in; text-indent: -0.125in">Ending balance</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">14,358</td><td style="text-align: left">&#xa0;</td><td>&#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="text-align: left">&#xa0;</td><td>&#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="text-align: left">&#xa0;</td></tr> </table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in">As of December 31, 2020 and 2019, the additions correspond to the allowance for expected credit losses for trade receivables, which are presented in the &#x201c;selling and distribution expenses&#x201d; line of the consolidated statement of profit or loss. See notes 22 and 24.</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="text-align: justify; width: 0.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(e)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The aging analysis of trade and other accounts receivable as of December 31, 2020 and 2019, is as follows:</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>As of December 31, 2020</b></font></p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; padding-bottom: 1.5pt">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; padding-bottom: 1.5pt"><b>Neither past due</b></td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="18" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Past due but not impaired</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in"><b>&#xa0;</b></td><td style="font-weight: bold; padding-bottom: 1.5pt"><b>&#xa0;</b></td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><b>Total</b></td><td style="font-weight: bold; padding-bottom: 1.5pt"><b>&#xa0;</b></td><td style="font-weight: bold; padding-bottom: 1.5pt"><b>&#xa0;</b></td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">nor<br/> impaired</td><td style="font-weight: bold; padding-bottom: 1.5pt"><b>&#xa0;</b></td><td style="font-weight: normal; padding-bottom: 1.5pt"><b>&#xa0;</b></td> <td colspan="2" style="font-weight: normal; text-align: center; border-bottom: Black 1.5pt solid"><b>&lt; 30<br/> days</b></td><td style="font-weight: normal; padding-bottom: 1.5pt"><b>&#xa0;</b></td><td style="font-weight: bold; padding-bottom: 1.5pt"><b>&#xa0;</b></td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><b>30-60<br/> days</b></td><td style="font-weight: bold; padding-bottom: 1.5pt"><b>&#xa0;</b></td><td style="font-weight: bold; padding-bottom: 1.5pt"><b>&#xa0;</b></td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><b>61-90<br/> days</b></td><td style="font-weight: bold; padding-bottom: 1.5pt"><b>&#xa0;</b></td><td style="font-weight: bold; padding-bottom: 1.5pt"><b>&#xa0;</b></td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><b>91-120<br/> days</b></td><td style="font-weight: bold; padding-bottom: 1.5pt"><b>&#xa0;</b></td><td style="font-weight: normal; padding-bottom: 1.5pt"><b>&#xa0;</b></td> <td colspan="2" style="font-weight: normal; text-align: center; border-bottom: Black 1.5pt solid"><b>&gt; 120<br/> days</b></td><td style="font-weight: normal; padding-bottom: 1.5pt"><b>&#xa0;</b></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#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; background-color: rgb(204,238,255)"> <td style="width: 30%; text-align: left; padding-left: 0.125in; text-indent: -0.125in">Expected credit loss rate</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 7%; text-align: right">6.3</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">0.2</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">10.8</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">1.4</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">4.2</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">61.2</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in">Carrying amount 2020</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">84,662</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">68,044</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,943</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">5,665</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,134</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">7,876</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-left: 0.125in; text-indent: -0.125in">Expected credit loss</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">5,324</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">167</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><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">79</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">48</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">4,821</td><td style="text-align: left">&#xa0;</td></tr> </table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>As of December 31, 2019</b></font></p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; padding-bottom: 1.5pt">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; padding-bottom: 1.5pt"><b>Neither past due</b></td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="18" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Past due but not impaired</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in"><b>&#xa0;</b></td><td style="font-weight: bold; padding-bottom: 1.5pt"><b>&#xa0;</b></td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><b>Total</b></td><td style="font-weight: bold; padding-bottom: 1.5pt"><b>&#xa0;</b></td><td style="font-weight: bold; padding-bottom: 1.5pt"><b>&#xa0;</b></td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">nor<br/> impaired</td><td style="font-weight: bold; padding-bottom: 1.5pt"><b>&#xa0;</b></td><td style="font-weight: normal; padding-bottom: 1.5pt"><b>&#xa0;</b></td> <td colspan="2" style="font-weight: normal; text-align: center; border-bottom: Black 1.5pt solid"><b>&lt; 30 <br/> days</b></td><td style="font-weight: normal; padding-bottom: 1.5pt"><b>&#xa0;</b></td><td style="font-weight: bold; padding-bottom: 1.5pt"><b>&#xa0;</b></td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><b>30-60 <br/> days</b></td><td style="font-weight: bold; padding-bottom: 1.5pt"><b>&#xa0;</b></td><td style="font-weight: bold; padding-bottom: 1.5pt"><b>&#xa0;</b></td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><b>61-90 <br/> days</b></td><td style="font-weight: bold; padding-bottom: 1.5pt"><b>&#xa0;</b></td><td style="font-weight: bold; padding-bottom: 1.5pt"><b>&#xa0;</b></td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><b>91-120 <br/> days</b></td><td style="font-weight: bold; padding-bottom: 1.5pt"><b>&#xa0;</b></td><td style="font-weight: normal; padding-bottom: 1.5pt"><b>&#xa0;</b></td> <td colspan="2" style="font-weight: normal; text-align: center; border-bottom: Black 1.5pt solid"><b>&gt; 120 <br/> days</b></td><td style="font-weight: normal; padding-bottom: 1.5pt"><b>&#xa0;</b></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#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; background-color: rgb(204,238,255)"> <td style="width: 30%; text-align: left; padding-left: 0.125in; text-indent: -0.125in">Expected credit loss rate</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 7%; text-align: right">3.1</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">0.3</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">0.5</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">2.6</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">1.0</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">35.7</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in">Carrying amount 2019</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">120,287</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">96,072</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">12,525</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">531</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,635</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">9,524</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-left: 0.125in; text-indent: -0.125in">Expected credit loss</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">3,747</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">256</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">59</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">14</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><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">3,402</td><td style="text-align: left">&#xa0;</td></tr> </table><br/> 9900000 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Current</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Non-current</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in">&#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">2020</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#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">2019</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#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">2020</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#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">2019</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#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; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left; padding-left: 0.125in; text-indent: -0.125in">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">73,366</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">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">-</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; padding-left: 0.125in; text-indent: -0.125in">Accounts receivable from Parent company and affiliates, note 27</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">2,212</td><td style="text-align: left">&#xa0;</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">-</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; padding-left: 0.125in; text-indent: -0.125in">Other accounts receivable (c)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,913</td><td style="text-align: left">&#xa0;</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">-</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></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Other receivables from sale of fixed assets</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,781</td><td style="text-align: left">&#xa0;</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">-</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; padding-left: 0.125in; text-indent: -0.125in">Loans granted</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,624</td><td style="text-align: left">&#xa0;</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">1,688</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">930</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Interests receivables</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,375</td><td style="text-align: left">&#xa0;</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">-</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; padding-left: 0.125in; text-indent: -0.125in">Loans to employees</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">357</td><td style="text-align: left">&#xa0;</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">-</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; padding-left: 0.125in; text-indent: -0.125in">Funds restricted to tax payments</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">346</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Indemnification from insurance</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">231</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; padding-left: 0.125in; text-indent: -0.125in">Allowance for expected credit losses (d)</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">(5,324</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">(3,747</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">-</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-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in">Financial assets classified as receivables (e)</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">77,650</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">115,224</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">1,688</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">1,316</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-left: 0.125in; text-indent: -0.125in">Value-added tax credit</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">6,443</td><td style="text-align: left">&#xa0;</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">3,319</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></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Tax refund receivable</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">319</td><td style="text-align: left">&#xa0;</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">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">9,242</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-left: 0.125in; text-indent: -0.125in">Allowance for expected credit losses (d)</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">(9,034</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">(9,034</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in">Non-financial assets classified as receivables</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">6,762</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">5,306</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">3,527</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">3,365</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">84,412</td><td style="text-align: left">&#xa0;</td><td>&#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="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">5,215</td><td style="text-align: left">&#xa0;</td><td>&#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="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 style="text-align: justify; padding-right: 7.05pt">Trade receivables have current maturity (30 to 90 days) and those that are past-due are 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="text-align: justify; padding-right: 7.05pt">As of December 31, 2019, it mainly included accounts receivable from a third party for the sale of regional and local public investment certificates (CIPRL) of S/9,900,000, which were charged in January 2020.</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="text-align: justify; width: 0.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The movement of the allowance for expected credit losses is as follows:</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: top"> <td style="text-align: justify; width: 0.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(e)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The aging analysis of trade and other accounts receivable as of December 31, 2020 and 2019, is as follows:</font></td></tr></table> 73366000 100201000 2212000 1171000 1913000 12973000 386000 1781000 1023000 1624000 1566000 1688000 930000 1375000 408000 357000 1398000 346000 231000 -5324000 -3747000 77650000 115224000 1688000 1316000 6443000 4956000 3319000 3157000 319000 350000 9242000 9242000 -9034000 -9034000 6762000 5306000 3527000 3365000 84412000 120530000 5215000 4681000 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.5pt">&#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">2020</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#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">2019</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#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">2018</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#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; background-color: rgb(204,238,255)"> <td style="width: 64%; font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in">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">12,781</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">11,329</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></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Additions</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,582</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Recoveries</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(5</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">(62</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Write-off</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">(11</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-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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; padding-left: 0.125in; text-indent: -0.125in">Ending balance</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">14,358</td><td style="text-align: left">&#xa0;</td><td>&#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="text-align: left">&#xa0;</td><td>&#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="text-align: left">&#xa0;</td></tr> </table> 12781000 11329000 1685000 1582000 1452000 9717000 5000 62000 11000 14358000 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; padding-bottom: 1.5pt">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; padding-bottom: 1.5pt"><b>Neither past due</b></td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="18" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Past due but not impaired</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in"><b>&#xa0;</b></td><td style="font-weight: bold; padding-bottom: 1.5pt"><b>&#xa0;</b></td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><b>Total</b></td><td style="font-weight: bold; padding-bottom: 1.5pt"><b>&#xa0;</b></td><td style="font-weight: bold; padding-bottom: 1.5pt"><b>&#xa0;</b></td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">nor<br/> impaired</td><td style="font-weight: bold; padding-bottom: 1.5pt"><b>&#xa0;</b></td><td style="font-weight: normal; padding-bottom: 1.5pt"><b>&#xa0;</b></td> <td colspan="2" style="font-weight: normal; text-align: center; border-bottom: Black 1.5pt solid"><b>&lt; 30<br/> days</b></td><td style="font-weight: normal; padding-bottom: 1.5pt"><b>&#xa0;</b></td><td style="font-weight: bold; padding-bottom: 1.5pt"><b>&#xa0;</b></td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><b>30-60<br/> days</b></td><td style="font-weight: bold; padding-bottom: 1.5pt"><b>&#xa0;</b></td><td style="font-weight: bold; padding-bottom: 1.5pt"><b>&#xa0;</b></td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><b>61-90<br/> days</b></td><td style="font-weight: bold; padding-bottom: 1.5pt"><b>&#xa0;</b></td><td style="font-weight: bold; padding-bottom: 1.5pt"><b>&#xa0;</b></td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><b>91-120<br/> days</b></td><td style="font-weight: bold; padding-bottom: 1.5pt"><b>&#xa0;</b></td><td style="font-weight: normal; padding-bottom: 1.5pt"><b>&#xa0;</b></td> <td colspan="2" style="font-weight: normal; text-align: center; border-bottom: Black 1.5pt solid"><b>&gt; 120<br/> days</b></td><td style="font-weight: normal; padding-bottom: 1.5pt"><b>&#xa0;</b></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#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; background-color: rgb(204,238,255)"> <td style="width: 30%; text-align: left; padding-left: 0.125in; text-indent: -0.125in">Expected credit loss rate</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 7%; text-align: right">6.3</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">0.2</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">10.8</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">1.4</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">4.2</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">61.2</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in">Carrying amount 2020</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">84,662</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">68,044</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,943</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">5,665</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,134</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">7,876</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-left: 0.125in; text-indent: -0.125in">Expected credit loss</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">5,324</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">167</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><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">79</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">48</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">4,821</td><td style="text-align: left">&#xa0;</td></tr> </table><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; padding-bottom: 1.5pt">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; padding-bottom: 1.5pt"><b>Neither past due</b></td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="18" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Past due but not impaired</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in"><b>&#xa0;</b></td><td style="font-weight: bold; padding-bottom: 1.5pt"><b>&#xa0;</b></td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><b>Total</b></td><td style="font-weight: bold; padding-bottom: 1.5pt"><b>&#xa0;</b></td><td style="font-weight: bold; padding-bottom: 1.5pt"><b>&#xa0;</b></td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">nor<br/> impaired</td><td style="font-weight: bold; padding-bottom: 1.5pt"><b>&#xa0;</b></td><td style="font-weight: normal; padding-bottom: 1.5pt"><b>&#xa0;</b></td> <td colspan="2" style="font-weight: normal; text-align: center; border-bottom: Black 1.5pt solid"><b>&lt; 30 <br/> days</b></td><td style="font-weight: normal; padding-bottom: 1.5pt"><b>&#xa0;</b></td><td style="font-weight: bold; padding-bottom: 1.5pt"><b>&#xa0;</b></td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><b>30-60 <br/> days</b></td><td style="font-weight: bold; padding-bottom: 1.5pt"><b>&#xa0;</b></td><td style="font-weight: bold; padding-bottom: 1.5pt"><b>&#xa0;</b></td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><b>61-90 <br/> days</b></td><td style="font-weight: bold; padding-bottom: 1.5pt"><b>&#xa0;</b></td><td style="font-weight: bold; padding-bottom: 1.5pt"><b>&#xa0;</b></td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><b>91-120 <br/> days</b></td><td style="font-weight: bold; padding-bottom: 1.5pt"><b>&#xa0;</b></td><td style="font-weight: normal; padding-bottom: 1.5pt"><b>&#xa0;</b></td> <td colspan="2" style="font-weight: normal; text-align: center; border-bottom: Black 1.5pt solid"><b>&gt; 120 <br/> days</b></td><td style="font-weight: normal; padding-bottom: 1.5pt"><b>&#xa0;</b></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#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; background-color: rgb(204,238,255)"> <td style="width: 30%; text-align: left; padding-left: 0.125in; text-indent: -0.125in">Expected credit loss rate</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 7%; text-align: right">3.1</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">0.3</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">0.5</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">2.6</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">1.0</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">35.7</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in">Carrying amount 2019</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">120,287</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">96,072</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">12,525</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">531</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,635</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">9,524</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-left: 0.125in; text-indent: -0.125in">Expected credit loss</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">3,747</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">256</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">59</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">14</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><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">3,402</td><td style="text-align: left">&#xa0;</td></tr> </table> 0.063 0.002 0.108 0.014 0.042 0.612 84662000 68044000 1943000 5665000 1134000 7876000 5324000 167000 209000 79000 48000 4821000 0.031 0.003 0.005 0.026 0.010 0.357 120287000 96072000 12525000 531000 1635000 9524000 3747000 256000 59000 14000 16000 3402000 <table cellpadding="0" cellspacing="0" style="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="text-align: justify; width: 0%"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8.</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inventories</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="text-align: justify; width: 0.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</font></td><td style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This caption is made up as follows:</font></td></tr></table><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in">&#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">2020</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#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">2019</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#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; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left; padding-left: 0.125in; text-indent: -0.125in">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">12,877</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">22,133</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Work in progress</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">114,246</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Raw materials</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">157,107</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Packages and packing</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">3,614</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Fuel</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">2,896</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Spare parts and supplies</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">179,354</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Inventory in transit</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">10,220</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">4,845</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">480,314</td><td style="text-align: left">&#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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Less - Provision for inventory obsolescence (b)</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">(19,704</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">(17,253</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">460,610</td><td style="text-align: left">&#xa0;</td><td>&#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="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="text-align: justify; width: 0.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Movement in the provision for inventory obsolescence value is set forth below:</font></td></tr></table><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center; padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in">&#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">2020</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#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">2019</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#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">2018</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center; padding-left: 0.125in; text-indent: -0.125in">&#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; background-color: rgb(204,238,255)"> <td style="width: 64%; font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in">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">17,253</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">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></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Additions</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">3,635</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Recoveries</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">(1,184</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">(220</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in">Final balance</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">19,704</td><td style="text-align: left">&#xa0;</td><td>&#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="text-align: left">&#xa0;</td><td>&#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="text-align: left">&#xa0;</td></tr> </table><br/> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in">&#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">2020</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#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">2019</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#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; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left; padding-left: 0.125in; text-indent: -0.125in">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">12,877</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">22,133</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Work in progress</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">114,246</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Raw materials</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">157,107</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Packages and packing</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">3,614</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Fuel</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">2,896</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Spare parts and supplies</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">179,354</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Inventory in transit</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">10,220</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">4,845</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">480,314</td><td style="text-align: left">&#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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Less - Provision for inventory obsolescence (b)</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">(19,704</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">(17,253</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">460,610</td><td style="text-align: left">&#xa0;</td><td>&#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="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="text-align: justify; width: 0.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Movement in the provision for inventory obsolescence value is set forth below:</font></td></tr></table> 12877000 22133000 114246000 166999000 157107000 167159000 3614000 3721000 2896000 3159000 179354000 168241000 10220000 4845000 480314000 536257000 19704000 17253000 460610000 519004000 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center; padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in">&#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">2020</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#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">2019</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#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">2018</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center; padding-left: 0.125in; text-indent: -0.125in">&#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; background-color: rgb(204,238,255)"> <td style="width: 64%; font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in">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">17,253</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">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></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Additions</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">3,635</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Recoveries</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">(1,184</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">(220</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">-</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in">Final balance</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">19,704</td><td style="text-align: left">&#xa0;</td><td>&#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="text-align: left">&#xa0;</td><td>&#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="text-align: left">&#xa0;</td></tr> </table> 17253000 14975000 11167000 3635000 2498000 3808000 1184000 220000 19704000 <table cellpadding="0" cellspacing="0" style="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="text-align: justify; width: 0%"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>9.</b></font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Financial investment designated at fair value through OCI </b></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="text-align: justify; width: 0.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Movement in financial investment designated at fair value through OCI is as follow:</font></td></tr></table><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in">&#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">2020</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#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">2019</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#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">2018</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#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; background-color: rgb(204,238,255)"> <td style="width: 64%; font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in">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">18,224</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">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></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Fair value change recorded in other comprehensive income</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">(17,532</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">(8,659</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">5,677</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-left: 0.125in; text-indent: -0.125in">Ending balance</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">692</td><td style="text-align: left">&#xa0;</td><td>&#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="text-align: left">&#xa0;</td><td>&#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="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 style="text-align: justify">As of December 31, 2020 and 2019, corresponds to 9,148,373 investment shares of Fossal S.A.A. These shares represent 7.76% of the total equity outstanding of Fossal S.A.A. See characteristics of investment shares in note 18(b).</td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in">The main asset held by Fossal S.A.A. It corresponded to its investment in the company Fosfatos del Pac&#xed;fico S.A., a pre-operational company that has a diatomite extraction concession and is dedicated to the Fosfatos Project (a project for the exploitation and sale of phosphate rock). The meeting of the Board of Directors of Fosfatos del Pac&#xed;fico S.A. held on December 30, 2020, considering the longer time it will take for the renewal of the Environmental Impact Study (EIA) of the project and that the current international prices of phosphate rock are lower than the sales prices originally estimated at the beginning of the project, agreed to make the accounting provision due to the total devaluation of the assets related to the Phosphate Project.</p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has recognized a charge in other comprehensive income of S/17,532,000 related to updating the fair value of the financial investment maintained in Fossal S.A.A. as of December 31, 2020.</font></p><br/> 9148373 0.0776 17532000000 9148373 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in">&#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">2020</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#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">2019</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#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">2018</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#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; background-color: rgb(204,238,255)"> <td style="width: 64%; font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in">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">18,224</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">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></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Fair value change recorded in other comprehensive income</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">(17,532</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">(8,659</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">5,677</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-left: 0.125in; text-indent: -0.125in">Ending balance</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">692</td><td style="text-align: left">&#xa0;</td><td>&#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="text-align: left">&#xa0;</td><td>&#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="text-align: left">&#xa0;</td></tr> </table> 18224000 26883000 21206000 -17532000 -8659000 5677000 692000 <table cellpadding="0" cellspacing="0" style="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="text-align: justify; width: 0%"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; 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text-align: right"><font style="font-size: 8pt">32,141</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">115,829</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">48,587</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">1,515</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">59,126</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">2,984,503</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-align: left; padding-left: 0.125in; text-indent: -0.125in"><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-align: left; padding-left: 0.125in; text-indent: -0.125in"><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="text-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 8pt">Transfers, note 11</font></td><td><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="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><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="text-align: left"><font style="font-size: 8pt">)</font></td><td><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="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><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="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><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">36,526</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="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">428</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="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">137</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="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">1,245</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="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="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><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="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><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">(55,493</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="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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background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in"><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">19</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">2,316</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">535</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">8,298</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">197</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">282</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">1,166</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">7,775</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">30,644</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">51,232</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td></tr> <tr style="vertical-align: bottom; 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text-align: right"><font style="font-size: 8pt">535</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="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">5,976</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="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">26,608</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="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">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="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">1,761</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="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">531</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="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="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><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="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><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">(40,218</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="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">(4,707</font></td><td style="text-align: left"><font style="font-size: 8pt">)</font></td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-bottom: 2pt; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 8pt">As of December 31, 2020</font></td><td><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">75,893</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="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">53,975</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="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">252,190</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="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">690,542</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="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">1,694,145</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="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">33,123</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="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">113,109</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="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">52,645</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="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">9,290</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="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">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="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">37,731</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="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">3,077,547</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-align: left; padding-left: 0.125in; text-indent: -0.125in"><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><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><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 style="font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 8pt">Accumulated depreciation</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><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; 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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="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">(266</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="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">563</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="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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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><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 style="font-weight: bold; text-align: left; padding-left: 0.125in; 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text-align: right"><font style="font-size: 8pt">251,655</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="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">549,564</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="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">1,098,470</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="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">3,258</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="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">40,315</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="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">11,685</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="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">1,416</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="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">58,926</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="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">46,714</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="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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border-bottom: Black 4pt double"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 4pt double"><font style="font-size: 8pt">2,873</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; border-bottom: Black 4pt double"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 4pt double"><font style="font-size: 8pt">32,451</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; border-bottom: Black 4pt double"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 4pt double"><font style="font-size: 8pt">9,843</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; border-bottom: Black 4pt double"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 4pt double"><font style="font-size: 8pt">7,674</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; border-bottom: Black 4pt double"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 4pt double"><font style="font-size: 8pt">57,405</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; border-bottom: Black 4pt double"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 4pt double"><font style="font-size: 8pt">36,996</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; border-bottom: Black 4pt double"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 4pt double"><font style="font-size: 8pt">2,014,508</font></td><td style="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="text-align: justify; width: 0.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mining concessions mainly include net acquisition costs of S/15,367,000 related to coal concessions acquired through a purchase option executed from 2011 to 2013. The caption also includes some concessions acquired by the Group for exploration activities related to the cement business.</font></td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in">In previous years, the Company&#x2019;s Management recognized a full impairment related to the total net book value of a closed zinc mining unit which included concession costs, development costs and related facilities and equipment. From this impairment estimate, S/42,858,000 corresponds to concession costs. According to Management&#x2019;s expectation, the recoverable amount of this zinc mining unit is zero.</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="text-align: justify; width: 0.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Group has assessed the recoverable amount of its remaining long-term assets and did not find indicators of an impairment loss of these assets as of December 31, 2020 and 2019.</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="text-align: justify; width: 0.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Work in progress included in property, plant and equipment as of December 31, 2020 and 2019 is mainly related to complementary facilities of the cement plants.</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; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.5in; text-align: left">(e)</td><td style="text-align: justify">As of December 31, 2020, the Group maintains accounts payable related to the acquisition of property, plant and equipment of S/4,830,000 (S/8,698,000 as of December 31, 2019). 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background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; width: 16%; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 8pt">As of January 1, 2019</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">76,904</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">47,850</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">240,424</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">674,846</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">1,622,377</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">32,141</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">115,829</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">48,587</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">1,515</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">59,126</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">2,984,503</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-align: left; padding-left: 0.125in; text-indent: -0.125in"><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-align: left; padding-left: 0.125in; text-indent: -0.125in"><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="text-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 8pt">Transfers, note 11</font></td><td><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="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><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="text-align: left"><font style="font-size: 8pt">)</font></td><td><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="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><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="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><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">36,526</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="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">428</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="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">137</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="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">1,245</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="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="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><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="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><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">(55,493</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="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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background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in"><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">19</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">2,316</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">535</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">8,298</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">197</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">282</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">1,166</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">7,775</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">30,644</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">51,232</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td></tr> <tr style="vertical-align: bottom; 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text-align: right"><font style="font-size: 8pt">535</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="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">5,976</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="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">26,608</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="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">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="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">1,761</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="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">531</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="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="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><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="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td><td><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">(40,218</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="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">(4,707</font></td><td style="text-align: left"><font style="font-size: 8pt">)</font></td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-bottom: 2pt; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 8pt">As of December 31, 2020</font></td><td><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">75,893</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="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">53,975</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="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">252,190</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="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">690,542</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="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">1,694,145</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="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">33,123</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="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">113,109</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="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">52,645</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="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">9,290</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="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">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="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">37,731</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="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">3,077,547</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-align: left; padding-left: 0.125in; text-indent: -0.125in"><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><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><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 style="font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 8pt">Accumulated depreciation</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><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; 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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="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">(266</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="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">563</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="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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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><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 style="font-weight: bold; text-align: left; padding-left: 0.125in; 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text-align: right"><font style="font-size: 8pt">251,655</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="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">549,564</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="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">1,098,470</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="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">3,258</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="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">40,315</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="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">11,685</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="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">1,416</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="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">58,926</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="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">46,714</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="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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text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">34,271</td><td style="text-align: left">&#xa0;</td><td>&#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="text-align: left">&#xa0;</td><td>&#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="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">49,530</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">110,319</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-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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; padding-left: 0.125in; text-indent: -0.125in">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; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in">As of January 1, 2019</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 style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">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="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Disposals</td><td>&#xa0;</td> <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="text-align: left">&#xa0;</td><td>&#xa0;</td> <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="text-align: left">&#xa0;</td><td>&#xa0;</td> <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="text-align: left">&#xa0;</td><td>&#xa0;</td> <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="text-align: left">)</td><td>&#xa0;</td> <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="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in">As of December 31, 2019</td><td>&#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="text-align: left">&#xa0;</td><td>&#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="text-align: left">&#xa0;</td><td>&#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="text-align: left">&#xa0;</td><td>&#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="text-align: left">&#xa0;</td><td>&#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="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Additions</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">4,168</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,454</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,034</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">7,656</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-left: 0.125in; text-indent: -0.125in">As of December 31, 2020</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">13,344</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,710</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <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</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">8,085</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">27,210</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in">Impairment (b)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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; padding-left: 0.125in; text-indent: -0.125in">Al of January 1, 2019</td><td style="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="font-weight: bold; text-align: left">&#xa0;</td><td style="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="font-weight: bold; text-align: left">&#xa0;</td><td style="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="font-weight: bold; text-align: left">&#xa0;</td><td>&#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="text-align: left">&#xa0;</td><td>&#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="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: normal; text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#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; padding-left: 0.125in; text-indent: -0.125in">As of December 31, 2019</td><td style="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="font-weight: bold; text-align: left">&#xa0;</td><td style="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="font-weight: bold; text-align: left">&#xa0;</td><td style="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="font-weight: bold; text-align: left">&#xa0;</td><td>&#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="text-align: left">&#xa0;</td><td>&#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="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-left: 0.125in; text-indent: -0.125in">As of December 31, 2020</td><td style="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="font-weight: bold; text-align: left">&#xa0;</td><td style="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="font-weight: bold; text-align: left">&#xa0;</td><td style="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="font-weight: bold; text-align: left">&#xa0;</td><td>&#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="text-align: left">&#xa0;</td><td>&#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="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#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; text-align: left; padding-left: 0.125in; text-indent: -0.125in">Next 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="font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in">As of December 31, 2019</td><td>&#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="text-align: left">&#xa0;</td><td>&#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="text-align: left">&#xa0;</td><td>&#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="text-align: left">&#xa0;</td><td>&#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="text-align: left">&#xa0;</td><td>&#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="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-left: 0.125in; text-indent: -0.125in">As of December 31, 2020</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">20,927</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">18,833</td><td style="text-align: left">&#xa0;</td><td>&#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="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">7,976</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">49,640</td><td style="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="text-align: justify; width: 0.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2020 and 2019, the exploration and evaluation assets include mainly capital expenditures related to the coal project and to other minor projects related to the cement business.</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">(c)</td><td style="text-align: justify; padding-right: 0pt">During the year 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 1.2.</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="text-align: justify; width: 0.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2020 and 2019, 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.</font></td></tr></table><br/> 25152000 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: center; padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td style="text-align: center; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>IT<br/> applications&#xa0;</b></font></p></td><td style="text-align: center; padding-bottom: 1.5pt">&#xa0;</td><td style="text-align: center; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Finite life<br/> intangible<br/> (c)</b></font></p></td><td style="text-align: center; padding-bottom: 1.5pt">&#xa0;</td><td style="text-align: center; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Indefinite life<br/> intangible<br/> (c)</b></font></p></td><td style="text-align: center; padding-bottom: 1.5pt">&#xa0;</td><td style="font-weight: bold; text-align: center; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><p style="margin-top: 0; margin-bottom: 0">Exploration</p> <p style="margin-top: 0; margin-bottom: 0">cost and<br/> mining<br/> evaluation<br/> (b)</p></td><td style="font-weight: bold; text-align: center; padding-bottom: 1.5pt">&#xa0;</td><td style="font-weight: bold; text-align: center; 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="font-weight: bold; text-align: center; padding-bottom: 1.5pt">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#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; text-align: left; padding-left: 0.125in; text-indent: -0.125in">Cost</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: 40%; font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in">As of 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">13,814</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">24,543</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">1,975</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">47,829</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">88,161</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">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; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">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; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Transfers and reclassifications, note 10</td><td>&#xa0;</td> <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="text-align: left">&#xa0;</td><td>&#xa0;</td> <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="text-align: left">&#xa0;</td><td>&#xa0;</td> <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="text-align: left">&#xa0;</td><td>&#xa0;</td> <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="text-align: left">&#xa0;</td><td>&#xa0;</td> <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="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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; padding-left: 0.125in; text-indent: -0.125in">As of December 31, 2019</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">25,145</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">48,726</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">100,389</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-left: 0.125in; text-indent: -0.125in">Additions</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">4,954</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">270</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">5,224</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Disposals</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(1</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">(1</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-left: 0.125in; text-indent: -0.125in">Transfers, note 10</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">4,173</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <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="text-align: left">&#xa0;</td><td>&#xa0;</td> <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="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">534</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">4,707</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in">As of December 31, 2020</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">34,271</td><td style="text-align: left">&#xa0;</td><td>&#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="text-align: left">&#xa0;</td><td>&#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="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">49,530</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">110,319</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-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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; padding-left: 0.125in; text-indent: -0.125in">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; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in">As of January 1, 2019</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 style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">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="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Disposals</td><td>&#xa0;</td> <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="text-align: left">&#xa0;</td><td>&#xa0;</td> <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="text-align: left">&#xa0;</td><td>&#xa0;</td> <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="text-align: left">&#xa0;</td><td>&#xa0;</td> <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="text-align: left">)</td><td>&#xa0;</td> <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="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in">As of December 31, 2019</td><td>&#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="text-align: left">&#xa0;</td><td>&#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="text-align: left">&#xa0;</td><td>&#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="text-align: left">&#xa0;</td><td>&#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="text-align: left">&#xa0;</td><td>&#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="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Additions</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">4,168</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,454</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,034</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">7,656</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-left: 0.125in; text-indent: -0.125in">As of December 31, 2020</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">13,344</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,710</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <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</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">8,085</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">27,210</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in">Impairment (b)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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; padding-left: 0.125in; text-indent: -0.125in">Al of January 1, 2019</td><td style="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="font-weight: bold; text-align: left">&#xa0;</td><td style="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="font-weight: bold; text-align: left">&#xa0;</td><td style="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="font-weight: bold; text-align: left">&#xa0;</td><td>&#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="text-align: left">&#xa0;</td><td>&#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="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: normal; text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#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; padding-left: 0.125in; text-indent: -0.125in">As of December 31, 2019</td><td style="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="font-weight: bold; text-align: left">&#xa0;</td><td style="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="font-weight: bold; text-align: left">&#xa0;</td><td style="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="font-weight: bold; text-align: left">&#xa0;</td><td>&#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="text-align: left">&#xa0;</td><td>&#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="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-left: 0.125in; text-indent: -0.125in">As of December 31, 2020</td><td style="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="font-weight: bold; text-align: left">&#xa0;</td><td style="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="font-weight: bold; text-align: left">&#xa0;</td><td style="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="font-weight: bold; text-align: left">&#xa0;</td><td>&#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="text-align: left">&#xa0;</td><td>&#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="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#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; text-align: left; padding-left: 0.125in; text-indent: -0.125in">Next 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="font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in">As of December 31, 2019</td><td>&#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="text-align: left">&#xa0;</td><td>&#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="text-align: left">&#xa0;</td><td>&#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="text-align: left">&#xa0;</td><td>&#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="text-align: left">&#xa0;</td><td>&#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="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-left: 0.125in; text-indent: -0.125in">As of December 31, 2020</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">20,927</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">18,833</td><td style="text-align: left">&#xa0;</td><td>&#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="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">7,976</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">49,640</td><td style="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="text-align: justify; width: 0.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2020 and 2019, the exploration and evaluation assets include mainly capital expenditures related to the coal project and to other minor projects related to the cement business.</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: top"> <td style="width: 0.5in"></td><td style="width: 0.5in">(c)</td><td style="text-align: justify; padding-right: 0pt">During the year 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 1.2.</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="text-align: justify; width: 0.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2020 and 2019, 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.</font></td></tr></table> 13814000 24543000 1975000 47829000 88161000 3712000 1623000 5335000 726000 726000 7619000 7619000 25145000 24543000 1975000 48726000 100389000 4954000 270000 5224000 1000 1000 4173000 534000 4707000 34271000 24543000 1975000 49530000 110319000 6706000 802000 71000 6232000 13811000 2470000 2454000 878000 5802000 59000 59000 9176000 3256000 71000 7051000 19554000 4168000 2454000 1034000 7656000 13344000 5710000 71000 8085000 27210000 33469000 33469000 33469000 33469000 33469000 33469000 15969000 21287000 1904000 8206000 47366000 20927000 18833000 1904000 7976000 49640000 <table cellpadding="0" cellspacing="0" style="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="text-align: justify; width: 0%"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">12.</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Goodwill</font></td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in">As of December 31, 2020 and 2019, the amount for goodwill amounts to S/4,459,000 from the acquisition of assets made by the subsidiary Distribuidora Norte Pacasmayo S.R.L. See note 1.2.</p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Group has assessed the recoverable amount of its goodwill using the value in use method, and the cash flow projections approved by Management are for a projection period of medium term, the cash flows after this period have been extrapolated using a growth rate consistent with long-term growth with the Peruvian economy. Management has determined that there is no impairment in its value as of December 31, 2020 and 2019.</font></p><br/> 4459000 4459000 <table cellpadding="0" cellspacing="0" style="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="text-align: justify; width: 0%"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">13.</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Leases</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal">The Group has lease contracts with third parties, mainly a 5-year lease contract of trucks. </font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-weight: normal">The Group also leases certain minor equipment for less than 12 months, the Group has decided to apply the recognition exemption for short term leases (less than 12 months) and for leases of low value assets. The expense for this type of lease amounted to S/1,869,000 for the twelve-month period ended December 31, 2020 (2019: S/1,652,000) and was recognized in the &#x201c;Administrative expenses&#x201d; caption of the interim condensed consolidated statement of profit or loss.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The movement of the right of use assets recognized by the Group is shown below:</font></p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.5pt">&#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">Transportation units</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#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">Other</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#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="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#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; padding-left: 0.125in; text-indent: -0.125in">Cost -</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; padding-left: 0.125in; text-indent: -0.125in">Balance as of 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">-</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">109</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">109</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Additions</td><td>&#xa0;</td> <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="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; 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="font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in">Balance as of December 31, 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">109</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">109</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Additions</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">7,504</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">7,504</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-left: 0.125in; text-indent: -0.125in">Sales and/or retirement</td><td>&#xa0;</td> <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="text-align: left">&#xa0;</td><td>&#xa0;</td> <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</td><td style="text-align: left">)</td><td>&#xa0;</td> <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</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in">Balance as of December 31, 2020</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">7,504</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">38</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">7,542</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; 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background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Additions</td><td>&#xa0;</td> <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="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">63</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">63</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in">Balance as of January 1, 2020</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">63</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">63</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-left: 0.125in; text-indent: -0.125in">Additions</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,501</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">33</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,534</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Sales and/or retirement</td><td>&#xa0;</td> <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="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(61</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(61</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in">Balance as of December 31, 2020</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,501</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">35</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,536</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in">Net book 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>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in">As of December 31, 2019</td><td>&#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="text-align: left">&#xa0;</td><td>&#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</td><td style="text-align: left">&#xa0;</td><td>&#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</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in">As of December 31, 2020</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">6,003</td><td style="text-align: left">&#xa0;</td><td>&#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</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">6,006</td><td style="text-align: left">&#xa0;</td></tr> </table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal">The movement of the lease liabilities recognized by the Group is shown below:</font></p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in">&#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">2020</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#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">2019</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#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; background-color: rgb(204,238,255)"> <td style="width: 76%; font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in">Balance as of January 1</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">57</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</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Additions</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">7,504</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; padding-left: 0.125in; text-indent: -0.125in">Sales and disposals</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(19</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; padding-left: 0.125in; text-indent: -0.125in">Financial interest expenses</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">409</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; padding-left: 0.125in; text-indent: -0.125in">Dues payments</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(1,669</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; padding-left: 0.125in; text-indent: -0.125in">Others</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">351</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <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="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-left: 0.125in; text-indent: -0.125in">Balance as of December 31</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">6,633</td><td style="text-align: left">&#xa0;</td><td>&#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</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in">Maturity</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in">Current portion</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,531</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; padding-left: 0.125in; text-indent: -0.125in">Non-current portion</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,102</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <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</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-left: 0.125in; text-indent: -0.125in">Balance as of December 31</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">6,633</td><td style="text-align: left">&#xa0;</td><td>&#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</td><td style="text-align: left">&#xa0;</td></tr> </table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal">The future cash disbursements in relation to lease liabilities have been disclosed in note 30.</font></p><br/> P5Y 1869000 1652000 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.5pt">&#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">Transportation units</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#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">Other</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#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="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#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; padding-left: 0.125in; text-indent: -0.125in">Cost -</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; padding-left: 0.125in; text-indent: -0.125in">Balance as of 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">-</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">109</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">109</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Additions</td><td>&#xa0;</td> <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="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; 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="font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in">Balance as of December 31, 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">109</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">109</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Additions</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">7,504</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">7,504</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-left: 0.125in; text-indent: -0.125in">Sales and/or retirement</td><td>&#xa0;</td> <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="text-align: left">&#xa0;</td><td>&#xa0;</td> <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</td><td style="text-align: left">)</td><td>&#xa0;</td> <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</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in">Balance as of December 31, 2020</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">7,504</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">38</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">7,542</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-left: 0.125in; text-indent: -0.125in">Accumulated depreciation -</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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; padding-left: 0.125in; text-indent: -0.125in">Balance as of January 1, 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">-</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; padding-left: 0.125in; text-indent: -0.125in">Additions</td><td>&#xa0;</td> <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="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">63</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">63</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in">Balance as of January 1, 2020</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">63</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">63</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-left: 0.125in; text-indent: -0.125in">Additions</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,501</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">33</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,534</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Sales and/or retirement</td><td>&#xa0;</td> <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="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(61</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(61</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in">Balance as of December 31, 2020</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,501</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">35</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,536</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in">Net book 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>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in">As of December 31, 2019</td><td>&#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="text-align: left">&#xa0;</td><td>&#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</td><td style="text-align: left">&#xa0;</td><td>&#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</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in">As of December 31, 2020</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">6,003</td><td style="text-align: left">&#xa0;</td><td>&#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</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">6,006</td><td style="text-align: left">&#xa0;</td></tr> </table> 109000 109000 109000 109000 7504000 7504000 -71000 -71000 7504000 38000 7542000 63000 63000 63000 63000 1501000 33000 1534000 -61000 -61000 1501000 35000 1536000 46000 46000 6003000 3000 6006000 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in">&#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">2020</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#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">2019</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#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; background-color: rgb(204,238,255)"> <td style="width: 76%; font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in">Balance as of January 1</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">57</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</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Additions</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">7,504</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; padding-left: 0.125in; text-indent: -0.125in">Sales and disposals</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(19</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; padding-left: 0.125in; text-indent: -0.125in">Financial interest expenses</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">409</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; padding-left: 0.125in; text-indent: -0.125in">Dues payments</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(1,669</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; padding-left: 0.125in; text-indent: -0.125in">Others</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">351</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <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="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-left: 0.125in; text-indent: -0.125in">Balance as of December 31</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">6,633</td><td style="text-align: left">&#xa0;</td><td>&#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</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in">Maturity</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in">Current portion</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,531</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; padding-left: 0.125in; text-indent: -0.125in">Non-current portion</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,102</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <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</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-left: 0.125in; text-indent: -0.125in">Balance as of December 31</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">6,633</td><td style="text-align: left">&#xa0;</td><td>&#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</td><td style="text-align: left">&#xa0;</td></tr> </table> 57000 57000 7504000 -19000 409000 -1669000 351000 6633000 57000 1531000 5102000 57000 <table cellpadding="0" cellspacing="0" style="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="text-align: justify; width: 0%"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">14.</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Trade and other payables</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This caption is made up as follows:</font></p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in">&#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">2020</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#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">2019</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#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; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left; padding-left: 0.125in; text-indent: -0.125in">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">83,754</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">84,894</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Interests payable</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">26,322</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Remuneration payable</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">18,102</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Advances from customers</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">14,880</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Taxes and contributions</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">10,478</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Dividends payable, note 18(g)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">7,686</td><td style="text-align: left">&#xa0;</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; padding-left: 0.125in; text-indent: -0.125in">Hedge finance cost payable</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">6,381</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Board of Directors&#x2019; fees</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">5,061</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Accounts payable related to the acquisition of property, plant and equipment, note 10(e)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">4,830</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Guarantee deposits</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">4,289</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Account payable to the principal and affiliates, note 27</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,559</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></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Other accounts payable</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">4,534</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">3,221</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-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 4pt double">&#xa0;</td><td style="text-align: right; border-bottom: Black 4pt double">187,876</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 4pt double">&#xa0;</td><td style="text-align: right; border-bottom: Black 4pt double">235,384</td><td style="text-align: left">&#xa0;</td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in">Trade accounts payable result from the purchases of material, services and supplies for the Group operation, and mainly correspond to invoices payable to domestic suppliers, are non-interest bearing and are normally settled on 60 to 120 days term.</p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other payables are non-interest bearing and have an average term of 3 months.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Interest payable is normally settled semiannually throughout the financial year.</font></p><br/> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in">&#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">2020</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#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">2019</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#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; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left; padding-left: 0.125in; text-indent: -0.125in">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">83,754</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">84,894</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Interests payable</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">26,322</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Remuneration payable</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">18,102</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Advances from customers</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">14,880</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Taxes and contributions</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">10,478</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Dividends payable, note 18(g)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">7,686</td><td style="text-align: left">&#xa0;</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; padding-left: 0.125in; text-indent: -0.125in">Hedge finance cost payable</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">6,381</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Board of Directors&#x2019; fees</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">5,061</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Accounts payable related to the acquisition of property, plant and equipment, note 10(e)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">4,830</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Guarantee deposits</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">4,289</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Account payable to the principal and affiliates, note 27</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,559</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></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Other accounts payable</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">4,534</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">3,221</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-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 4pt double">&#xa0;</td><td style="text-align: right; border-bottom: Black 4pt double">187,876</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 4pt double">&#xa0;</td><td style="text-align: right; border-bottom: Black 4pt double">235,384</td><td style="text-align: left">&#xa0;</td></tr> </table> 83754000 84894000 26322000 24809000 18102000 18007000 14880000 11775000 10478000 12047000 7686000 52523000 6381000 5922000 5061000 5917000 4830000 8698000 4289000 5799000 1559000 1772000 4534000 3221000 <table cellpadding="0" cellspacing="0" style="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="text-align: justify; width: 0%"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">15.</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Provisions</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This caption is made up as follows:</font></p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: center; padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in">&#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="font-weight: bold; padding-bottom: 1.5pt">&#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="font-weight: bold; padding-bottom: 1.5pt">&#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">Quarry <br/> Rehabilitation<br/> provision</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#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">Provision of legal<br/> contingencies</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#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="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center; padding-left: 0.125in; text-indent: -0.125in">&#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; background-color: rgb(204,238,255)"> <td style="width: 40%; font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in">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">1,222</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">53,052</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Additions, note 23</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">693</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">22,385</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-left: 0.125in; text-indent: -0.125in">Unwinding of discounts, note 26</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">-</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-left: 0.125in; text-indent: -0.125in">Payments and advances</td><td>&#xa0;</td> <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="text-align: left">)</td><td>&#xa0;</td> <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="text-align: left">)</td><td>&#xa0;</td> <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="text-align: left">&#xa0;</td><td>&#xa0;</td> <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="text-align: left">&#xa0;</td><td>&#xa0;</td> <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="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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; padding-left: 0.125in; text-indent: -0.125in">At December 31, 2019</td><td>&#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="text-align: left">&#xa0;</td><td>&#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="text-align: left">&#xa0;</td><td>&#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="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">1,915</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">26,161</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-left: 0.125in; text-indent: -0.125in">&#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 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></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in">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">1,915</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">18,518</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-left: 0.125in; text-indent: -0.125in">Non-current portion</td><td>&#xa0;</td> <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="text-align: left">&#xa0;</td><td>&#xa0;</td> <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="text-align: left">&#xa0;</td><td>&#xa0;</td> <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="text-align: left">&#xa0;</td><td>&#xa0;</td> <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="text-align: left">&#xa0;</td><td>&#xa0;</td> <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="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td>&#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="text-align: left">&#xa0;</td><td>&#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="text-align: left">&#xa0;</td><td>&#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="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">1,915</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">26,161</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#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 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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in">At January 1, 2020</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">8,514</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,829</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,915</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">26,161</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Additions, note 23</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">9,513</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">5,759</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">7,775</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">24,222</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-left: 0.125in; text-indent: -0.125in">Exchange difference</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">728</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">728</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Unwinding of discounts, note 26</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">343</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">84</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">427</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-left: 0.125in; text-indent: -0.125in">Payments and advances</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(14,036</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(2,526</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(255</td><td style="text-align: left">)</td><td>&#xa0;</td> <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="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(16,817</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in">At December 31, 2020</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">9,380</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">12,090</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">10,161</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">3,090</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">34,721</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#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 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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in">Current portion</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">9,380</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">9,380</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in">Non-current portion</td><td>&#xa0;</td> <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="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">12,090</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">10,161</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,090</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">25,341</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-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">9,380</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">12,090</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">10,161</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">3,090</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">34,721</td><td style="text-align: left">&#xa0;</td></tr> </table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Workers&#x2019; profit sharing -</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In accordance with Peruvian legislation, the Group is obliged to pay between 8% and 10% of annual taxable income. 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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Long-term incentive plan -</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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. According to the latest plan update, the executive would receive the equivalent of an annual salary for each year of service beginning to accrue from 2019. This benefit accrues and accumulates for each officer and is payable in two moments: the first payment will be made on the sixth 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 (risk-free rate).</p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Quarry Rehabilitation provision -</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in">As of December 31, 2020 and 2019, corresponds to the provision for the future costs of rehabilitating the quarries utilized in connection with the Company&#x2019;s operations. The provision has been created based on studies undertaken 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 quarry 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; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in">Future cash flows were estimated from financial budgets approved by senior management. The range of dollar risk free discount rates used in the calculation of the present value of this provision as of December 31, 2020 was 0.06% to 1.65%, respectively.</p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/> 0.08 0.10 0.50 0.50 0.0006 0.0165 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: center; padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in">&#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="font-weight: bold; padding-bottom: 1.5pt">&#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="font-weight: bold; padding-bottom: 1.5pt">&#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">Quarry <br/> Rehabilitation<br/> provision</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#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">Provision of legal<br/> contingencies</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#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="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center; padding-left: 0.125in; text-indent: -0.125in">&#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; background-color: rgb(204,238,255)"> <td style="width: 40%; font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in">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">1,222</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">53,052</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Additions, note 23</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">693</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">22,385</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-left: 0.125in; text-indent: -0.125in">Unwinding of discounts, note 26</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">-</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-left: 0.125in; text-indent: -0.125in">Payments and advances</td><td>&#xa0;</td> <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="text-align: left">)</td><td>&#xa0;</td> <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="text-align: left">)</td><td>&#xa0;</td> <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="text-align: left">&#xa0;</td><td>&#xa0;</td> <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="text-align: left">&#xa0;</td><td>&#xa0;</td> <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="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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; padding-left: 0.125in; text-indent: -0.125in">At December 31, 2019</td><td>&#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="text-align: left">&#xa0;</td><td>&#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="text-align: left">&#xa0;</td><td>&#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="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">1,915</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">26,161</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-left: 0.125in; text-indent: -0.125in">&#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 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></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in">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">1,915</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">18,518</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-left: 0.125in; text-indent: -0.125in">Non-current portion</td><td>&#xa0;</td> <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="text-align: left">&#xa0;</td><td>&#xa0;</td> <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="text-align: left">&#xa0;</td><td>&#xa0;</td> <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="text-align: left">&#xa0;</td><td>&#xa0;</td> <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="text-align: left">&#xa0;</td><td>&#xa0;</td> <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="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td>&#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="text-align: left">&#xa0;</td><td>&#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="text-align: left">&#xa0;</td><td>&#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="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">1,915</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">26,161</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#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 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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in">At January 1, 2020</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">8,514</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,829</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,915</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">26,161</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Additions, note 23</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">9,513</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">5,759</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">7,775</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">24,222</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-left: 0.125in; text-indent: -0.125in">Exchange difference</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">728</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">728</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Unwinding of discounts, note 26</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">343</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">84</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">427</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-left: 0.125in; text-indent: -0.125in">Payments and advances</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(14,036</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(2,526</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(255</td><td style="text-align: left">)</td><td>&#xa0;</td> <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="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(16,817</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in">At December 31, 2020</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">9,380</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">12,090</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">10,161</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">3,090</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">34,721</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#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 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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in">Current portion</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">9,380</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">9,380</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in">Non-current portion</td><td>&#xa0;</td> <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="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">12,090</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">10,161</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,090</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">25,341</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-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">9,380</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">12,090</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">10,161</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">3,090</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">34,721</td><td style="text-align: left">&#xa0;</td></tr> </table> 14341000 36000000 1489000 1222000 53052000 -15169000 -6523000 -693000 -22385000 118000 340000 458000 -15607000 -34127000 -49734000 13903000 8514000 1829000 1915000 26161000 13903000 2700000 1915000 5814000 1829000 7643000 13903000 8514000 1829000 1915000 26161000 9513000 5759000 7775000 1175000 24222000 728000 728000 343000 84000 427000 -14036000 -2526000 -255000 -16817000 9380000 12090000 10161000 3090000 34721000 9380000 12090000 10161000 3090000 25341000 9380000 12090000 10161000 3090000 34721000 <table cellpadding="0" cellspacing="0" style="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="text-align: justify; width: 0%"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">16.</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial obligations</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="text-align: justify; width: 0.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This caption is made up as follows:</font></td></tr></table><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="vertical-align: top; font-weight: bold; text-align: left; padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in">&#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="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">Nominal interest<br/> rate</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#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">Maturity</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; 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font-size: 10pt">May 8, 2020</font></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">8,293</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-align: left; padding-left: 0.125in; text-indent: -0.125in">Banco de Cr&#xe9;dito del Per&#xfa;</td><td>&#xa0;</td> <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">S/</font></td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">4.64</td><td style="text-align: left">%</td><td>&#xa0;</td> <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">June 18, 2020</font></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">13,689</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="vertical-align: top; text-align: left; padding-left: 0.125in; text-indent: -0.125in">Banco de Cr&#xe9;dito del Per&#xfa;</td><td>&#xa0;</td> <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">US$</font></td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">3.36</td><td style="text-align: left">%</td><td>&#xa0;</td> <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">August 6, 2020</font></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">5,307</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; 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text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">6,633</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td>&#xa0;</td> <td style="text-align: center">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: 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><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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="vertical-align: top; font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 4pt">Total current</td><td>&#xa0;</td> <td style="text-align: center">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: 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><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">65,232</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">98,774</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td>&#xa0;</td> <td style="text-align: center">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: 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><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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="vertical-align: top; font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in">Mid-term promissory notes (bridge loans) (b)</td><td>&#xa0;</td> <td style="text-align: center">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: 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><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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: -0.125in">&#xa0;</td><td>&#xa0;</td> <td style="text-align: center">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: 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><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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="vertical-align: top; font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in">Senior Notes (c)</td><td>&#xa0;</td> <td style="text-align: center">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: 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><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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: -0.125in">Principal, net of issuance costs</td><td>&#xa0;</td> <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">S/</font></td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">6.84</td><td style="text-align: left">%</td><td>&#xa0;</td> <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">February 1, 2034</font></td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">309,359</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">309,310</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="vertical-align: top; text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td>&#xa0;</td> <td style="text-align: center">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: 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><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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="vertical-align: top; font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 4pt">Total non-current</td><td>&#xa0;</td> <td style="text-align: center">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: 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><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">1,203,352</td><td style="text-align: left">&#xa0;</td><td>&#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="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="text-align: justify; width: 0.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Short-term promissory notes -</font></td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in">In 2019, 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 mentioned in note 1.2. The short-term promissory notes have a current maturity and accrue interest at an effective rate of 2.35% to 3.36% for U.S. dollar-denominated loans and 4.64% per year for Soles-denominated loans.</p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in">As of December 31, 2020, financings in dollars and soles with Banco de Cr&#xe9;dito del Per&#xfa; were obtained for working capital, have current and medium-term maturity and accrue interest at effective annual rates of 2.20% and 2.62%, respectively.</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="text-align: justify; width: 0.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Senior Notes in US dollars -</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The General Shareholder&#x2019;s Meeting held on January 7, 2013, approved that the Company complete a financing transaction. In connection with this, the Board of Directors&#x2019; Meeting held on January 24, 2013, agreed to issue Senior Notes through a private offering under Rule 144A and Regulation S of the U.S. Securities Act of 1933. Also it was agreed to list these securities in the Ireland Stock Exchange. Consequently, on February 1, 2013, the Company issued Senior Bonds 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 has used part of the net proceeds from the offering to prepay certain of its existing debt and the difference has been used in capital expenditures in connection with its cement business. The Senior Notes are guaranteed by the following Company&#x2019;s subsidiaries: 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).</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in">The Board of Directors&#x2019; Meeting held on November 26, 2018, approved the repurchase of the senior notes in US dollars. As a result, the Company acquired senior notes for an amount of US$168,388,000. Consequently, as of December 31, 2018 senior notes balance in US dollars was US$131,162,000 (S/476,962,000). To finance this acquisition, 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 canceled with the issue of senior notes denominated in Soles in January 2019, as explained bellow.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in">On the other hand, as a consequence of the purchase of senior notes issued in U.S. dollars, the Company&#x2019;s Management considers that it is not necessary to continue with all of the derivative financial instruments to hedge those liabilities. Consequently, during December 2019, the Company settled US$150,000,000 of a total of US$300,000,000. The loss obtained from this settlement amounted to S/34,887,000, which is presented in the cumulative net loss on settlement of derivative financial instruments caption in the consolidated statement of profit and loss for the year ended December 31, 2018. As of December 31, 2020 and 2019, the Company has hedged cash flow contracts to reduce the foreign currency risk of corporate bonds, which are in US dollars. See note 30.</p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Senior Notes in Soles</i></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in"><font style="font-weight: normal">The General Shareholders&#x2019; Meeting held on January 8, 2019, approved the issuance of senior notes in soles in the local market up to the maximum amount of S/1,000,000,000 through the Second Corporate Bonds Program of Pacasmayo, whose purpose was to settle the mid-term loans described in previous paragraph. On January 31, 2019, senior notes were issued for: i) S/260,000,000 at a rate of 6.688% per year and maturity of 10 years and; ii) S/310,000,000 at a rate of 6.844% per year and maturity of 15 years.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Senior Notes in soles issued in 2019 are surety guaranteed by the following Company&#x2019;s subsidiaries: 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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial covenants</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in">The financial covenants related to the Senior Notes issued in US dollars and soles states that in case that the Company and its guarantor subsidiaries are required to issue debt or equity instruments or merges with another company or disposes of or rents significant assets, the Senior Notes will activate the following covenants, calculated on the basis of the Company&#x2019;s and the Guarantor Subsidiaries&#x2019; consolidated annual financial statements:</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="text-align: justify; width: 0.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The fixed charge covenant ratio would be at least 2.5 to 1.</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="text-align: justify; width: 0.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The consolidated debt-to-EBITDA ratio would be no greater than 3.5 to 1.</font></td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in">As of December 31, 2020 and 2019, the Senior Notes generated interest that has been recognized in the consolidated statement of profit or loss of S/60,857,000 and S/56,081,000 respectively. See note 26.</p><br/> 0.0235 0.0336 0.0464 0.0220 0.0262 the Company issued Senior Bonds 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 senior notes balance in US dollars was US$131,162,000 (S/476,962,000). To finance this acquisition, 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 canceled with the issue of senior notes denominated in Soles in January 2019, as explained bellow. the Company&#x2019;s Management considers that it is not necessary to continue with all of the derivative financial instruments to hedge those liabilities. Consequently, during December 2019, the Company settled US$150,000,000 of a total of US$300,000,000. The loss obtained from this settlement amounted to S/34,887,000, which is presented in the cumulative net loss on settlement of derivative financial instruments caption in the consolidated statement of profit and loss for the year ended December 31, 2018. the issuance of senior notes in soles in the local market up to the maximum amount of S/1,000,000,000 through the Second Corporate Bonds Program of Pacasmayo, whose purpose was to settle the mid-term loans described in previous paragraph. On January 31, 2019, senior notes were issued for: i) S/260,000,000 at a rate of 6.688% per year and maturity of 10 years and; ii) S/310,000,000 at a rate of 6.844% per year and maturity of 15 years. The fixed charge covenant ratio would be at least 2.5 to 1. -The consolidated debt-to-EBITDA ratio would be no greater than 3.5 to 1. 60857000 56081000 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="vertical-align: top; font-weight: bold; text-align: left; padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in">&#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="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">Nominal interest<br/> rate</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; 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font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in">Short-term promissory notes (b)</td><td>&#xa0;</td> <td 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><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="vertical-align: top; width: 36%; text-align: left; padding-left: 0.125in; text-indent: -0.125in">Banco de Cr&#xe9;dito del Per&#xfa;</td><td style="width: 1%">&#xa0;</td> <td style="width: 9%; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">US$</font></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">2.20</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%">&#xa0;</td> <td style="width: 15%; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">July 8, 2021</font></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">65,232</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="vertical-align: top; text-align: left; padding-left: 0.125in; text-indent: -0.125in">BBVA</td><td>&#xa0;</td> <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">US$</font></td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">2.70</td><td style="text-align: left">%</td><td>&#xa0;</td> <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">May 8, 2020</font></td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">8,293</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-align: left; padding-left: 0.125in; text-indent: -0.125in">Banco de Cr&#xe9;dito del Per&#xfa;</td><td>&#xa0;</td> <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">S/</font></td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">4.64</td><td style="text-align: left">%</td><td>&#xa0;</td> <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">June 18, 2020</font></td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">13,689</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="vertical-align: top; text-align: left; padding-left: 0.125in; text-indent: -0.125in">Banco de Cr&#xe9;dito del Per&#xfa;</td><td>&#xa0;</td> <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">US$</font></td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">3.36</td><td style="text-align: left">%</td><td>&#xa0;</td> <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">August 6, 2020</font></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">5,307</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-align: left; padding-left: 0.125in; text-indent: -0.125in">Banco de Cr&#xe9;dito del Per&#xfa;</td><td>&#xa0;</td> <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">US$</font></td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">3.23</td><td style="text-align: left">%</td><td>&#xa0;</td> <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">August 14, 2020</font></td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">-</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">4,864</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="vertical-align: top; text-align: left; padding-left: 0.125in; text-indent: -0.125in">Banco de Cr&#xe9;dito del Per&#xfa;</td><td>&#xa0;</td> <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">US$</font></td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">3.16</td><td style="text-align: left">%</td><td>&#xa0;</td> <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">October 9, 2020</font></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">16,867</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-align: left; padding-left: 0.125in; text-indent: -0.125in">Scotiabank Per&#xfa; S.A.A.</td><td>&#xa0;</td> <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">US$</font></td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">3.00</td><td style="text-align: left">%</td><td>&#xa0;</td> <td style="text-align: center"><font style="font-family: 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="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">6,633</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td>&#xa0;</td> <td style="text-align: center">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: 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><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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="vertical-align: top; font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 4pt">Total current</td><td>&#xa0;</td> <td style="text-align: center">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: 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><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">65,232</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">98,774</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td>&#xa0;</td> <td style="text-align: center">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: 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><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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="vertical-align: top; font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in">Mid-term promissory notes (bridge loans) (b)</td><td>&#xa0;</td> <td style="text-align: center">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: 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><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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="vertical-align: top; text-align: left; padding-left: 0.125in; text-indent: -0.125in">Banco de Cr&#xe9;dito del Per&#xfa;</td><td>&#xa0;</td> <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">S/</font></td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">2.62</td><td style="text-align: left">%</td><td>&#xa0;</td> <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">January 10, 2022</font></td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">79,500</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="vertical-align: top; text-align: left; padding-left: 0.125in; text-indent: -0.125in">Banco de Cr&#xe9;dito del Per&#xfa;</td><td>&#xa0;</td> <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">S/</font></td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">2.62</td><td style="text-align: left">%</td><td>&#xa0;</td> <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">January 10, 2022</font></td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">79,500</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="vertical-align: top; text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td>&#xa0;</td> <td style="text-align: center">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: 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><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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="vertical-align: top; font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in">Senior Notes (c)</td><td>&#xa0;</td> <td style="text-align: center">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: 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><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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="vertical-align: top; text-align: left; padding-left: 0.125in; text-indent: -0.125in">Principal, net of issuance costs</td><td>&#xa0;</td> <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">US$</font></td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">4.50</td><td style="text-align: left">%</td><td>&#xa0;</td> <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">February 8, 2023</font></td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">475,491</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; "> <td style="vertical-align: top; text-align: left; padding-left: 0.125in; text-indent: -0.125in">Principal, net of issuance costs</td><td>&#xa0;</td> <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">S/</font></td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">6.69</td><td style="text-align: left">%</td><td>&#xa0;</td> <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">February 1, 2029</font></td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">259,502</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-align: left; padding-left: 0.125in; text-indent: -0.125in">Principal, net of issuance costs</td><td>&#xa0;</td> <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">S/</font></td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">6.84</td><td style="text-align: left">%</td><td>&#xa0;</td> <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">February 1, 2034</font></td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">309,359</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">309,310</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="vertical-align: top; text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td>&#xa0;</td> <td style="text-align: center">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: 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><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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="vertical-align: top; font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 4pt">Total non-current</td><td>&#xa0;</td> <td style="text-align: center">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: 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><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">1,203,352</td><td style="text-align: left">&#xa0;</td><td>&#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="text-align: left">&#xa0;</td></tr> </table> US$ 0.0220 July 8, 2021 65232000 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 65232000 98774000 S/ 0.0262 January 10, 2022 79500000 S/ 0.0262 January 10, 2022 79500000 US$ 0.0450 February 8, 2023 475491000 434380000 S/ 0.0669 February 1, 2029 259502000 259440000 S/ 0.0684 February 1, 2034 309359000 309310000 1203352000 1003130000 <table cellpadding="0" cellspacing="0" style="width: 100%; font: bold 10pt Times New Roman, Times, Serif; 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vertical-align: bottom"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"><font style="font-size: 8pt">&#xa0;</font></td> <td colspan="2" style="vertical-align: bottom; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">Effect on OCI</font></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"><font style="font-size: 8pt">&#xa0;</font></td> <td colspan="2" style="vertical-align: bottom; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">Additions <br/>IFRS 16</font></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: center; 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vertical-align: bottom"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: center; vertical-align: bottom"><font style="font-size: 8pt">&#xa0;</font></td> <td colspan="2" style="vertical-align: bottom; text-align: center"><font style="font-size: 8pt">S/(000)</font></td><td style="text-align: center; vertical-align: bottom"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: center; vertical-align: bottom"><font style="font-size: 8pt">&#xa0;</font></td> <td colspan="2" style="vertical-align: bottom; text-align: center"><font style="font-size: 8pt">S/(000)</font></td><td style="text-align: center; vertical-align: bottom"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: center; vertical-align: bottom"><font style="font-size: 8pt">&#xa0;</font></td> <td colspan="2" style="vertical-align: bottom; text-align: center"><font style="font-size: 8pt">S/(000)</font></td><td style="text-align: center; vertical-align: bottom"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: center; vertical-align: bottom"><font style="font-size: 8pt">&#xa0;</font></td> <td colspan="2" style="vertical-align: bottom; text-align: center"><font style="font-size: 8pt">S/(000)</font></td><td style="text-align: center; vertical-align: bottom"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: center; vertical-align: bottom"><font style="font-size: 8pt">&#xa0;</font></td> <td colspan="2" style="vertical-align: bottom; text-align: center"><font style="font-size: 8pt">S/(000)</font></td><td style="text-align: center; vertical-align: bottom"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: center; vertical-align: bottom"><font style="font-size: 8pt">&#xa0;</font></td> <td colspan="2" style="vertical-align: bottom; text-align: center"><font style="font-size: 8pt">S/(000)</font></td><td style="text-align: center; vertical-align: bottom"><font style="font-size: 8pt">&#xa0;</font></td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; 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background-color: rgb(204,238,255)"> <td style="text-align: left; width: 19%; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 8pt">Effect of tax-loss carry forward</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: 6%; text-align: right"><font style="font-size: 8pt">-</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: 6%; text-align: right"><font style="font-size: 8pt">2,614</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: 6%; text-align: right"><font style="font-size: 8pt">-</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: 6%; text-align: right"><font style="font-size: 8pt">2,614</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: 6%; text-align: right"><font style="font-size: 8pt">6,656</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: 6%; text-align: right"><font style="font-size: 8pt">-</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: 6%; text-align: right"><font style="font-size: 8pt">-</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: 6%; text-align: right"><font style="font-size: 8pt">-</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: 6%; text-align: right"><font style="font-size: 8pt">9,270</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-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 8pt">Provision of discounts and bonuses to customers</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">137</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">1,895</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">2,032</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">425</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">-</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">2,457</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-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 8pt">Provision for vacations</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</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">1,640</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">1,729</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">(159</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">1,570</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 8pt">Allowance for expected credit losses for trade receivables</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">69</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">763</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">832</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">625</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">-</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">1,457</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-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 8pt">Allowance for expected credit losses for other receivables</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">2,665</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">(1,691</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">-</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">974</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">-</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">974</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 8pt">Lease liabilities</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">14</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">14</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">(131</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">1,009</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">892</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-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 8pt">Legal claim contingency</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">-</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">461</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">-</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">461</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td></tr> <tr style="vertical-align: bottom; 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background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in"><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><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">116</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">82</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">198</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">29</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">-</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">227</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td></tr> <tr style="vertical-align: bottom; 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border-bottom: Black 1.5pt solid"><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; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><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; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><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; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">-</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><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; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">(2,271</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; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><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; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">(2,271</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; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">1,041</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; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><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; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">(1,009</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; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><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; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">(2,239</font></td><td style="text-align: left"><font style="font-size: 8pt">)</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 8pt">Total deferred income tax assets</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 1.5pt solid; padding-bottom: 1.5pt; 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">3,098</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; padding-bottom: 1.5pt; 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">4,321</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; padding-bottom: 1.5pt; 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; padding-bottom: 1.5pt; 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">7,419</font></td><td style="padding-bottom: 1.5pt; 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padding-bottom: 1.5pt; 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; padding-bottom: 1.5pt; 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; padding-bottom: 1.5pt; 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">15,618</font></td><td style="padding-bottom: 1.5pt; 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background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 8pt">Financial instruments designated at fair value through OCI</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">879</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">879</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">5,172</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">6,051</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 8pt">Provision for spare parts and supplies obsolescence</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">4,231</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">-</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">4,963</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">418</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">-</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">5,381</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-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 8pt">Long-term incentive plan</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">10,620</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">(8,109</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">2,511</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">1,055</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">-</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">3,566</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 8pt">Provision for vacations</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">4,125</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">(1,054</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">3,071</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">187</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">-</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">3,258</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-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 8pt">Quarry rehabilitation provision</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">238</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">301</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">539</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">)</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">2,294</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">2,781</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 8pt">Legal claim contingency</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">-</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">(140</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">1,205</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">1,065</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td></tr> <tr style="vertical-align: bottom; 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padding-bottom: 1.5pt; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">-</font></td><td style="text-align: left; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left; padding-bottom: 1.5pt; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">349</font></td><td style="text-align: left; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left; padding-bottom: 1.5pt; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">(74</font></td><td style="text-align: left; padding-bottom: 1.5pt"><font style="font-size: 8pt">)</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left; padding-bottom: 1.5pt; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">-</font></td><td style="text-align: left; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left; padding-bottom: 1.5pt; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">-</font></td><td style="text-align: left; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left; padding-bottom: 1.5pt; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">-</font></td><td style="text-align: left; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left; padding-bottom: 1.5pt; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">275</font></td><td style="text-align: left; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><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; padding-bottom: 1.5pt; 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">48,080</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; padding-bottom: 1.5pt; 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">(12,336</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; padding-bottom: 1.5pt; 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">879</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; padding-bottom: 1.5pt; 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">36,623</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; padding-bottom: 1.5pt; 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">2,113</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; padding-bottom: 1.5pt; 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">5,172</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; padding-bottom: 1.5pt; 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">1,205</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; padding-bottom: 1.5pt; 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">2,294</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; padding-bottom: 1.5pt; 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">47,407</font></td><td style="padding-bottom: 1.5pt; 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-align: left; padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 1.5pt"><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="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="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="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="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="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="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="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="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="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="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="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="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="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="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="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="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="padding-bottom: 1.5pt; 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; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 8pt">Deferred income tax liabilities</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; 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"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 8pt">Net gain on cash flow hedge</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">(3,619</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">(354</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">754</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">(3,219</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">(220</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">487</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">(2,952</font></td><td style="text-align: left"><font style="font-size: 8pt">)</font></td></tr> <tr style="vertical-align: bottom; 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"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 8pt">Effect of costs of issuance of senior notes</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">(864</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">(146</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">(1,010</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">240</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">-</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">(770</font></td><td style="text-align: left"><font style="font-size: 8pt">)</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 8pt">Right of use assets</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">-</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">242</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">(1,205</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">(963</font></td><td style="text-align: left"><font style="font-size: 8pt">)</font></td></tr> <tr style="vertical-align: bottom; 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padding-bottom: 1.5pt; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">-</font></td><td style="text-align: left; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left; padding-bottom: 1.5pt; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">(45</font></td><td style="text-align: left; padding-bottom: 1.5pt"><font style="font-size: 8pt">)</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left; padding-bottom: 1.5pt; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">3</font></td><td style="text-align: left; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left; padding-bottom: 1.5pt; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">-</font></td><td style="text-align: left; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left; padding-bottom: 1.5pt; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">-</font></td><td style="text-align: left; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left; padding-bottom: 1.5pt; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">-</font></td><td style="text-align: left; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left; padding-bottom: 1.5pt; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">(42</font></td><td style="text-align: left; padding-bottom: 1.5pt"><font style="font-size: 8pt">)</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">(171,569</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">(12,582</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">2,429</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; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">(181,722</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">(12,537</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">487</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; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">(1,205</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">(2,294</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">(197,271</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">)</font></td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 8pt">Total deferred income tax liabilities, net</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left; border-bottom: Black 4pt double"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 4pt double"><font style="font-size: 8pt">(123,489</font></td><td style="padding-bottom: 4pt; text-align: left"><font style="font-size: 8pt">)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left; border-bottom: Black 4pt double"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 4pt double"><font style="font-size: 8pt">(24,918</font></td><td style="padding-bottom: 4pt; text-align: left"><font style="font-size: 8pt">)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left; border-bottom: Black 4pt double"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 4pt double"><font style="font-size: 8pt">3,308</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; border-bottom: Black 4pt double"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 4pt double"><font style="font-size: 8pt">(145,099</font></td><td style="padding-bottom: 4pt; text-align: left"><font style="font-size: 8pt">)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left; border-bottom: Black 4pt double"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 4pt double"><font style="font-size: 8pt">(10,424</font></td><td style="padding-bottom: 4pt; text-align: left"><font style="font-size: 8pt">)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left; border-bottom: Black 4pt double"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 4pt double"><font style="font-size: 8pt">5,659</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; border-bottom: Black 4pt double"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 4pt double"><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; border-bottom: Black 4pt double"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 4pt double"><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; border-bottom: Black 4pt double"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 4pt double"><font style="font-size: 8pt">(149,864</font></td><td style="padding-bottom: 4pt; 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-align: left; padding-left: 0.125in; text-indent: -0.125in"><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; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">(20,597</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">3,308</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; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">(2,225</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">5,659</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> </table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 tax assets and deferred tax liabilities relate to income taxes levied by the same tax authority.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A reconciliation between tax expenses and the product of the accounting profit multiplied by Peruvian tax rate for the years 2020, 2019 and 2018 is as follows:</font></p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 10pt">&#xa0;</font></td><td style="font-weight: bold; padding-bottom: 1.5pt"><font style="font-size: 10pt">&#xa0;</font></td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><font style="font-size: 10pt">2020</font></td><td style="font-weight: bold; padding-bottom: 1.5pt"><font style="font-size: 10pt">&#xa0;</font></td><td style="font-weight: bold; padding-bottom: 1.5pt"><font style="font-size: 10pt">&#xa0;</font></td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><font style="font-size: 10pt">2019</font></td><td style="font-weight: bold; padding-bottom: 1.5pt"><font style="font-size: 10pt">&#xa0;</font></td><td style="font-weight: bold; padding-bottom: 1.5pt"><font style="font-size: 10pt">&#xa0;</font></td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><font style="font-size: 10pt">2018</font></td><td style="font-weight: bold; padding-bottom: 1.5pt"><font style="font-size: 10pt">&#xa0;</font></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 10pt">&#xa0;</font></td><td><font style="font-size: 10pt">&#xa0;</font></td> <td colspan="2" style="text-align: center"><font style="font-size: 10pt">S/(000)</font></td><td><font style="font-size: 10pt">&#xa0;</font></td><td><font style="font-size: 10pt">&#xa0;</font></td> <td colspan="2" style="text-align: center"><font style="font-size: 10pt">S/(000)</font></td><td><font style="font-size: 10pt">&#xa0;</font></td><td><font style="font-size: 10pt">&#xa0;</font></td> <td colspan="2" style="text-align: center"><font style="font-size: 10pt">S/(000)</font></td><td><font style="font-size: 10pt">&#xa0;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 10pt">Accounting profit before income tax</font></td><td style="width: 1%"><font style="font-size: 10pt">&#xa0;</font></td> <td style="width: 1%; text-align: left; border-bottom: Black 1.5pt solid"><font style="font-size: 10pt">&#xa0;</font></td><td style="width: 9%; text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 10pt">85,898</font></td><td style="width: 1%; text-align: left"><font style="font-size: 10pt">&#xa0;</font></td><td style="width: 1%"><font style="font-size: 10pt">&#xa0;</font></td> <td style="width: 1%; text-align: left; border-bottom: Black 1.5pt solid"><font style="font-size: 10pt">&#xa0;</font></td><td style="width: 9%; text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 10pt">194,353</font></td><td style="width: 1%; text-align: left"><font style="font-size: 10pt">&#xa0;</font></td><td style="width: 1%"><font style="font-size: 10pt">&#xa0;</font></td> <td style="width: 1%; text-align: left; border-bottom: Black 1.5pt solid"><font style="font-size: 10pt">&#xa0;</font></td><td style="width: 9%; text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 10pt">116,141</font></td><td style="width: 1%; text-align: left"><font style="font-size: 10pt">&#xa0;</font></td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 10pt">&#xa0;</font></td><td><font style="font-size: 10pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 10pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 10pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 10pt">&#xa0;</font></td><td><font style="font-size: 10pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 10pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 10pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 10pt">&#xa0;</font></td><td><font style="font-size: 10pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 10pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 10pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 10pt">&#xa0;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 10pt">At statutory income tax rate of 29.5%</font></td><td><font style="font-size: 10pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 10pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 10pt">(25,340</font></td><td style="text-align: left"><font style="font-size: 10pt">)</font></td><td><font style="font-size: 10pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 10pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 10pt">(57,334</font></td><td style="text-align: left"><font style="font-size: 10pt">)</font></td><td><font style="font-size: 10pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 10pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 10pt">(34,262</font></td><td style="text-align: left"><font style="font-size: 10pt">)</font></td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 10pt">&#xa0;</font></td><td><font style="font-size: 10pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 10pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 10pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 10pt">&#xa0;</font></td><td><font style="font-size: 10pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 10pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 10pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 10pt">&#xa0;</font></td><td><font style="font-size: 10pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 10pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 10pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 10pt">&#xa0;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 10pt">Permanent differences</font></td><td><font style="font-size: 10pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 10pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 10pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 10pt">&#xa0;</font></td><td><font style="font-size: 10pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 10pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 10pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 10pt">&#xa0;</font></td><td><font style="font-size: 10pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 10pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 10pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 10pt">&#xa0;</font></td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 10pt">Non-deductible expenses, net</font></td><td><font style="font-size: 10pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 10pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 10pt">(1,596</font></td><td style="text-align: left"><font style="font-size: 10pt">)</font></td><td><font style="font-size: 10pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 10pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 10pt">(4,181</font></td><td style="text-align: left"><font style="font-size: 10pt">)</font></td><td><font style="font-size: 10pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 10pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 10pt">(6,546</font></td><td style="text-align: left"><font style="font-size: 10pt">)</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 10pt">Effect of tax-loss carry forward non-recognized</font></td><td><font style="font-size: 10pt">&#xa0;</font></td> <td style="text-align: left; border-bottom: Black 1.5pt solid"><font style="font-size: 10pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 10pt">(1,068</font></td><td style="text-align: left"><font style="font-size: 10pt">)</font></td><td><font style="font-size: 10pt">&#xa0;</font></td> <td style="text-align: left; border-bottom: Black 1.5pt solid"><font style="font-size: 10pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 10pt">(791</font></td><td style="text-align: left"><font style="font-size: 10pt">)</font></td><td><font style="font-size: 10pt">&#xa0;</font></td> <td style="text-align: left; border-bottom: Black 1.5pt solid"><font style="font-size: 10pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 10pt">(187</font></td><td style="text-align: left"><font style="font-size: 10pt">)</font></td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 10pt">&#xa0;</font></td><td><font style="font-size: 10pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 10pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 10pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 10pt">&#xa0;</font></td><td><font style="font-size: 10pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 10pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 10pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 10pt">&#xa0;</font></td><td><font style="font-size: 10pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 10pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 10pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 10pt">&#xa0;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 2pt; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 10pt">At the effective income tax rate of 33% in 2020 (2019: 32% and 2018: 35%)</font></td><td><font style="font-size: 10pt">&#xa0;</font></td> <td style="border-bottom: Black 4pt double; text-align: left"><font style="font-size: 10pt">&#xa0;</font></td><td style="border-bottom: Black 4pt double; text-align: right"><font style="font-size: 10pt">(28,004</font></td><td style="text-align: left"><font style="font-size: 10pt">)</font></td><td><font style="font-size: 10pt">&#xa0;</font></td> <td style="border-bottom: Black 4pt double; text-align: left"><font style="font-size: 10pt">&#xa0;</font></td><td style="border-bottom: Black 4pt double; text-align: right"><font style="font-size: 10pt">(62,306</font></td><td style="text-align: left"><font style="font-size: 10pt">)</font></td><td><font style="font-size: 10pt">&#xa0;</font></td> <td style="border-bottom: Black 4pt double; text-align: left"><font style="font-size: 10pt">&#xa0;</font></td><td style="border-bottom: Black 4pt double; text-align: right"><font style="font-size: 10pt">(40,995</font></td><td style="text-align: left"><font style="font-size: 10pt">)</font></td></tr> </table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The income tax expenses shown for the years ended December 31, 2020, 2019 and 2018 are:</font></p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in">&#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">2020</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#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">2019</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#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">2018</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">&#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; padding-left: 0.125in; text-indent: -0.125in">Consolidated statement of profit or loss</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; padding-left: 0.125in; text-indent: -0.125in">Current</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">(25,779</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">(41,709</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></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Deferred</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">(2,225</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">(20,597</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">1,964</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-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">(28,004</td><td style="text-align: left">)</td><td>&#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="text-align: left">)</td><td>&#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="text-align: left">)</td></tr> </table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The income tax recorded directly to other comprehensive income represents a gain of S/5,659,000 during 2020, a gain of S/3,308,000 and a loss of S/13,287,000 during 2019 and 2018, respectively. 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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-indent: -0.125in; padding-left: 0.125in; text-align: left">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">S/(000)</font></td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">S/(000)</font></td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">S/(000)</font></td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-indent: -0.125in; padding-left: 0.125in; text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left">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">5,659</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">3,308</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></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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: -0.125in; padding-left: 0.125in; text-align: left">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">(2,253</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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"><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: 6%; text-align: right"><font style="font-size: 8pt">-</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: 6%; text-align: right"><font style="font-size: 8pt">-</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: 6%; text-align: right"><font style="font-size: 8pt">9,270</font></td><td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#xa0;</font></td></tr> <tr style="vertical-align: bottom; 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background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 8pt">Provision for vacations</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</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">1,640</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">1,729</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">(159</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">1,570</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 8pt">Allowance for expected credit losses for trade receivables</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">69</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">763</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">832</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">625</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">-</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">1,457</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-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 8pt">Allowance for expected credit losses for other receivables</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">2,665</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">(1,691</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">-</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">974</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">-</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">974</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 8pt">Lease liabilities</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">14</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">14</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">(131</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">1,009</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">892</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-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 8pt">Legal claim contingency</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">-</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">461</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">-</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">461</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td></tr> <tr style="vertical-align: bottom; 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background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in"><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><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">116</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">82</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">198</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">29</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">-</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">227</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td></tr> <tr style="vertical-align: bottom; 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border-bottom: Black 1.5pt solid"><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; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><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; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><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; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">-</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><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; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">(2,271</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; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><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; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">(2,271</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; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">1,041</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; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><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; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">(1,009</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; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><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; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">(2,239</font></td><td style="text-align: left"><font style="font-size: 8pt">)</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 8pt">Total deferred income tax assets</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="border-bottom: Black 1.5pt solid; padding-bottom: 1.5pt; 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">3,098</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; padding-bottom: 1.5pt; 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">4,321</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; padding-bottom: 1.5pt; 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; padding-bottom: 1.5pt; 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">7,419</font></td><td style="padding-bottom: 1.5pt; 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padding-bottom: 1.5pt; 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; padding-bottom: 1.5pt; 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; padding-bottom: 1.5pt; 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">15,618</font></td><td style="padding-bottom: 1.5pt; 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background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 8pt">Financial instruments designated at fair value through OCI</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">879</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">879</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">5,172</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">6,051</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 8pt">Provision for spare parts and supplies obsolescence</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">4,231</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">-</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">4,963</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">418</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">-</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">5,381</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-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 8pt">Long-term incentive plan</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">10,620</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">(8,109</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">2,511</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">1,055</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">-</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">3,566</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 8pt">Provision for vacations</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">4,125</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">(1,054</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">3,071</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">187</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">-</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">3,258</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-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 8pt">Quarry rehabilitation provision</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">238</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">301</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">539</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">)</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">2,294</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">2,781</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 8pt">Legal claim contingency</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">-</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">(140</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">1,205</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">1,065</font></td><td style="text-align: left"><font style="font-size: 8pt">&#xa0;</font></td></tr> <tr style="vertical-align: bottom; 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padding-bottom: 1.5pt; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">-</font></td><td style="text-align: left; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left; padding-bottom: 1.5pt; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">349</font></td><td style="text-align: left; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left; padding-bottom: 1.5pt; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">(74</font></td><td style="text-align: left; padding-bottom: 1.5pt"><font style="font-size: 8pt">)</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left; padding-bottom: 1.5pt; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">-</font></td><td style="text-align: left; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left; padding-bottom: 1.5pt; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">-</font></td><td style="text-align: left; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left; padding-bottom: 1.5pt; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">-</font></td><td style="text-align: left; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left; padding-bottom: 1.5pt; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">275</font></td><td style="text-align: left; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><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; padding-bottom: 1.5pt; 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">48,080</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; padding-bottom: 1.5pt; 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">(12,336</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; padding-bottom: 1.5pt; 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">879</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; padding-bottom: 1.5pt; 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">36,623</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; padding-bottom: 1.5pt; 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">2,113</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; padding-bottom: 1.5pt; 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">5,172</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; padding-bottom: 1.5pt; 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">1,205</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; padding-bottom: 1.5pt; 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">2,294</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; padding-bottom: 1.5pt; 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">47,407</font></td><td style="padding-bottom: 1.5pt; 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-align: left; padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 1.5pt"><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="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="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="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="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="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="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="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="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="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="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="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="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="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="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="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="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="padding-bottom: 1.5pt; 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; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 8pt">Deferred income tax liabilities</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; 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"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 8pt">Net gain on cash flow hedge</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">(3,619</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">(354</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">754</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">(3,219</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">(220</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">487</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">(2,952</font></td><td style="text-align: left"><font style="font-size: 8pt">)</font></td></tr> <tr style="vertical-align: bottom; 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"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 8pt">Effect of costs of issuance of senior notes</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">(864</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">(146</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">(1,010</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">240</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">-</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">(770</font></td><td style="text-align: left"><font style="font-size: 8pt">)</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 8pt">Right of use assets</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">-</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">242</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">(1,205</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">(963</font></td><td style="text-align: left"><font style="font-size: 8pt">)</font></td></tr> <tr style="vertical-align: bottom; 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padding-bottom: 1.5pt; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">-</font></td><td style="text-align: left; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left; padding-bottom: 1.5pt; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">(45</font></td><td style="text-align: left; padding-bottom: 1.5pt"><font style="font-size: 8pt">)</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left; padding-bottom: 1.5pt; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">3</font></td><td style="text-align: left; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left; padding-bottom: 1.5pt; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">-</font></td><td style="text-align: left; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left; padding-bottom: 1.5pt; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">-</font></td><td style="text-align: left; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left; padding-bottom: 1.5pt; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">-</font></td><td style="text-align: left; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td><td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left; padding-bottom: 1.5pt; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">(42</font></td><td style="text-align: left; padding-bottom: 1.5pt"><font style="font-size: 8pt">)</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 8pt">&#xa0;</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">(171,569</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">(12,582</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">2,429</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; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">(181,722</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">(12,537</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">487</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; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">(1,205</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">(2,294</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">(197,271</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">)</font></td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 8pt">Total deferred income tax liabilities, net</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left; border-bottom: Black 4pt double"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 4pt double"><font style="font-size: 8pt">(123,489</font></td><td style="padding-bottom: 4pt; text-align: left"><font style="font-size: 8pt">)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left; border-bottom: Black 4pt double"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 4pt double"><font style="font-size: 8pt">(24,918</font></td><td style="padding-bottom: 4pt; text-align: left"><font style="font-size: 8pt">)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left; border-bottom: Black 4pt double"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 4pt double"><font style="font-size: 8pt">3,308</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; border-bottom: Black 4pt double"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 4pt double"><font style="font-size: 8pt">(145,099</font></td><td style="padding-bottom: 4pt; text-align: left"><font style="font-size: 8pt">)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left; border-bottom: Black 4pt double"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 4pt double"><font style="font-size: 8pt">(10,424</font></td><td style="padding-bottom: 4pt; text-align: left"><font style="font-size: 8pt">)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left; border-bottom: Black 4pt double"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 4pt double"><font style="font-size: 8pt">5,659</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; border-bottom: Black 4pt double"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 4pt double"><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; border-bottom: Black 4pt double"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 4pt double"><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; border-bottom: Black 4pt double"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 4pt double"><font style="font-size: 8pt">(149,864</font></td><td style="padding-bottom: 4pt; 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-align: left; padding-left: 0.125in; text-indent: -0.125in"><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; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">(20,597</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">3,308</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; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">(2,225</font></td><td style="padding-bottom: 1.5pt; text-align: left"><font style="font-size: 8pt">)</font></td><td><font style="font-size: 8pt">&#xa0;</font></td> <td style="text-align: left; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">&#xa0;</font></td><td style="text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">5,659</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> </table> 2614000 2614000 6656000 9270000 137000 1895000 2032000 425000 2457000 89000 1640000 1729000 -159000 1570000 69000 763000 832000 625000 1457000 2665000 -1691000 974000 974000 14000 14000 -131000 1009000 892000 461000 461000 431000 431000 116000 82000 198000 29000 227000 922000 922000 -867000 55000 22000 353000 375000 -312000 63000 3098000 6592000 9690000 7158000 1009000 17857000 -2259000 -2259000 829000 -1430000 -17000 -17000 217000 -1009000 -809000 5000 5000 -5000 -2271000 -2271000 1041000 -1009000 -2239000 3098000 4321000 7419000 8199000 15618000 17087000 17087000 476000 17563000 7646000 -523000 7123000 -207000 6916000 879000 879000 5172000 6051000 4231000 732000 4963000 418000 5381000 10620000 -8109000 2511000 1055000 3566000 4125000 -1054000 3071000 187000 3258000 238000 301000 539000 -52000 2294000 2781000 -140000 1205000 1065000 450000 450000 596000 -495000 101000 101000 994000 -994000 922000 -922000 1621000 -1272000 349000 -74000 275000 48080000 -12336000 879000 36623000 2113000 5172000 1205000 2294000 47407000 -165366000 -12082000 -177448000 -12802000 -2294000 -192544000 -3619000 -354000 754000 -3219000 -220000 487000 -2952000 -1675000 1675000 -864000 -146000 -1010000 240000 -770000 242000 -1205000 -963000 -45000 -45000 3000 -42000 -171569000 -12582000 2429000 -181722000 -12537000 487000 -1205000 -2294000 -197271000 -123489000 -24918000 3308000 -145099000 -10424000 5659000 -149864000 -20597000 3308000 -2225000 5659000 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 10pt">&#xa0;</font></td><td style="font-weight: bold; padding-bottom: 1.5pt"><font style="font-size: 10pt">&#xa0;</font></td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><font style="font-size: 10pt">2020</font></td><td style="font-weight: bold; padding-bottom: 1.5pt"><font style="font-size: 10pt">&#xa0;</font></td><td style="font-weight: bold; padding-bottom: 1.5pt"><font style="font-size: 10pt">&#xa0;</font></td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><font style="font-size: 10pt">2019</font></td><td style="font-weight: bold; padding-bottom: 1.5pt"><font style="font-size: 10pt">&#xa0;</font></td><td style="font-weight: bold; padding-bottom: 1.5pt"><font style="font-size: 10pt">&#xa0;</font></td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><font style="font-size: 10pt">2018</font></td><td style="font-weight: bold; padding-bottom: 1.5pt"><font style="font-size: 10pt">&#xa0;</font></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 10pt">&#xa0;</font></td><td><font style="font-size: 10pt">&#xa0;</font></td> <td colspan="2" style="text-align: center"><font style="font-size: 10pt">S/(000)</font></td><td><font style="font-size: 10pt">&#xa0;</font></td><td><font style="font-size: 10pt">&#xa0;</font></td> <td colspan="2" style="text-align: center"><font style="font-size: 10pt">S/(000)</font></td><td><font style="font-size: 10pt">&#xa0;</font></td><td><font style="font-size: 10pt">&#xa0;</font></td> <td colspan="2" style="text-align: center"><font style="font-size: 10pt">S/(000)</font></td><td><font style="font-size: 10pt">&#xa0;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 10pt">Accounting profit before income tax</font></td><td style="width: 1%"><font style="font-size: 10pt">&#xa0;</font></td> <td style="width: 1%; text-align: left; border-bottom: Black 1.5pt solid"><font style="font-size: 10pt">&#xa0;</font></td><td style="width: 9%; text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 10pt">85,898</font></td><td style="width: 1%; text-align: left"><font style="font-size: 10pt">&#xa0;</font></td><td style="width: 1%"><font style="font-size: 10pt">&#xa0;</font></td> <td style="width: 1%; text-align: left; border-bottom: Black 1.5pt solid"><font style="font-size: 10pt">&#xa0;</font></td><td style="width: 9%; text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 10pt">194,353</font></td><td style="width: 1%; text-align: left"><font style="font-size: 10pt">&#xa0;</font></td><td style="width: 1%"><font style="font-size: 10pt">&#xa0;</font></td> <td style="width: 1%; text-align: left; border-bottom: Black 1.5pt solid"><font style="font-size: 10pt">&#xa0;</font></td><td style="width: 9%; text-align: right; border-bottom: Black 1.5pt solid"><font style="font-size: 10pt">116,141</font></td><td style="width: 1%; text-align: left"><font style="font-size: 10pt">&#xa0;</font></td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 10pt">&#xa0;</font></td><td><font style="font-size: 10pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 10pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 10pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 10pt">&#xa0;</font></td><td><font style="font-size: 10pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 10pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 10pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 10pt">&#xa0;</font></td><td><font style="font-size: 10pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 10pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 10pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 10pt">&#xa0;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 10pt">At statutory income tax rate of 29.5%</font></td><td><font style="font-size: 10pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 10pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 10pt">(25,340</font></td><td style="text-align: left"><font style="font-size: 10pt">)</font></td><td><font style="font-size: 10pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 10pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 10pt">(57,334</font></td><td style="text-align: left"><font style="font-size: 10pt">)</font></td><td><font style="font-size: 10pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 10pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 10pt">(34,262</font></td><td style="text-align: left"><font style="font-size: 10pt">)</font></td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 10pt">&#xa0;</font></td><td><font style="font-size: 10pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 10pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 10pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 10pt">&#xa0;</font></td><td><font style="font-size: 10pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 10pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 10pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 10pt">&#xa0;</font></td><td><font style="font-size: 10pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 10pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 10pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 10pt">&#xa0;</font></td></tr> <tr style="vertical-align: bottom; 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"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 10pt">Non-deductible expenses, net</font></td><td><font style="font-size: 10pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 10pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 10pt">(1,596</font></td><td style="text-align: left"><font style="font-size: 10pt">)</font></td><td><font style="font-size: 10pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 10pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 10pt">(4,181</font></td><td style="text-align: left"><font style="font-size: 10pt">)</font></td><td><font style="font-size: 10pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 10pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 10pt">(6,546</font></td><td style="text-align: left"><font style="font-size: 10pt">)</font></td></tr> <tr style="vertical-align: bottom; 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border-bottom: Black 1.5pt solid"><font style="font-size: 10pt">(187</font></td><td style="text-align: left"><font style="font-size: 10pt">)</font></td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-size: 10pt">&#xa0;</font></td><td><font style="font-size: 10pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 10pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 10pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 10pt">&#xa0;</font></td><td><font style="font-size: 10pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 10pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 10pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 10pt">&#xa0;</font></td><td><font style="font-size: 10pt">&#xa0;</font></td> <td style="text-align: left"><font style="font-size: 10pt">&#xa0;</font></td><td style="text-align: right"><font style="font-size: 10pt">&#xa0;</font></td><td style="text-align: left"><font style="font-size: 10pt">&#xa0;</font></td></tr> <tr style="vertical-align: bottom; 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text-align: left"><font style="font-size: 10pt">&#xa0;</font></td><td style="border-bottom: Black 4pt double; text-align: right"><font style="font-size: 10pt">(40,995</font></td><td style="text-align: left"><font style="font-size: 10pt">)</font></td></tr> </table> 85898000 194353000 116141000 -25340000 -57334000 -34262000 0.295 0.295 0.295 1596000 4181000 6546000 -1068000 -791000 -187000 -28004000 -62306000 -40995000 0.33 0.32 0.35 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in">&#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">2020</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="font-weight: bold; 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border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">(20,597</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">&#xa0;</td><td style="text-align: right; border-bottom: Black 1.5pt solid">1,964</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-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">(28,004</td><td style="text-align: left">)</td><td>&#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="text-align: left">)</td><td>&#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="text-align: left">)</td></tr> </table> -25779000 -41709000 -42959000 -2225000 -20597000 1964000 -28004000 -62306000 -40995000 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; padding-bottom: 1.5pt; 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padding-left: 0.125in; text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-indent: -0.125in; padding-left: 0.125in; width: 64%; text-align: left">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">5,172</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">2,554</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></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">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">487</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in; text-align: left">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">-</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></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left">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">5,659</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">3,308</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></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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: -0.125in; padding-left: 0.125in; text-align: left">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">(2,253</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-indent: -0.125in; padding-left: 0.125in; 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width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">18.</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Equity</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="text-align: justify; width: 0.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Capital stock -</font></td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2020 and 2019, share capital is represented by 423,868,449 authorized common shares subscribed and fully paid, with a nominal value of one Sol per share. As from December 31, 2020 from the total outstanding common shares; 31,728,741 are listed in the New York Stock Exchange and 392,139,708 in the Lima Stock Exchange. As of December 31, 2019, 31,066,186 common shares were listed on the New York Stock Exchange and 392,802,263 on the Lima Stock Exchange.</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="text-align: justify; width: 0.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investment shares -</font></td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investment shares do not have voting rights or participate in shareholder&#x2019;s meetings or the appointment of directors. 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:</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="text-align: justify; width: 1in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">maintain the current proportion of the investment shares in the case of capital increase by new contributions;</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="text-align: justify; width: 1in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">increase the number of investment shares upon capitalization of retained earnings, revaluation surplus or other reserves that do not represent cash contributions;</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="text-align: justify; width: 1in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">participate in the distribution of the assets resulting from liquidation of the Company in the same manner as common shares; and,</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="text-align: justify; width: 1in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iv)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">redeem the investment shares in case of a merger and/or change of business activity of the Company.</font></td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2020 and 2019, the Company has 40,278,894 investment shares subscribed and fully paid, with a nominal value of one sol per share.</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="text-align: justify; width: 0.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Treasury shares -</font></td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2020 and 2019, the Company maintains 36,040,497 investment shares held in treasury amounting to S/121,258,000.</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="text-align: justify; width: 0.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additional paid-in capital -</font></td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of January 1, 2017, additional paid-in capital represented mainly by S/561,191,000 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 the 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 these shares. In March 2017, S/118,569,000 was debited from this item as a result of the spin-off of the Phosphates Project. See note 9(b).</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="text-align: justify; width: 0.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(e)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Legal reserve -</font></td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Provisions of the 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.</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="text-align: justify; width: 0.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(f)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></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="text-align: justify; width: 0.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(g)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Distributions made and proposed &#x2013;</font></td></tr></table><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: center"><font style="font-family: Times New Roman, Times, Serif">&#xa0;</font></td><td style="font-weight: bold"><font style="font-family: Times New Roman, Times, Serif">&#xa0;</font></td> <td style="vertical-align: bottom; font-weight: bold; text-align: center"><font style="font-family: Times New Roman, Times, Serif">2020</font></td><td style="font-weight: bold"><font style="font-family: Times New Roman, Times, Serif">&#xa0;</font></td><td style="font-weight: bold"><font style="font-family: Times New Roman, Times, Serif">&#xa0;</font></td> <td style="vertical-align: bottom; font-weight: bold; text-align: center"><font style="font-family: Times New Roman, Times, Serif">2019</font></td><td style="font-weight: bold"><font style="font-family: Times New Roman, Times, Serif">&#xa0;</font></td><td style="font-weight: bold"><font style="font-family: Times New Roman, Times, Serif">&#xa0;</font></td> <td style="vertical-align: bottom; font-weight: bold; text-align: center"><font style="font-family: Times New Roman, Times, Serif">2018</font></td><td style="font-weight: bold"><font style="font-family: Times New Roman, Times, Serif">&#xa0;</font></td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in; text-align: center"></td><td style="padding-bottom: 1.5pt"><font style="font-family: Times New Roman, Times, Serif"><b>&#xa0;</b></font></td> <td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; text-align: center"><font style="font-family: Times New Roman, Times, Serif"><b>November&#xa0;16, <br/> 2020</b></font></td><td style="padding-bottom: 1.5pt"><font style="font-family: Times New Roman, Times, Serif"><b>&#xa0;</b></font></td><td style="padding-bottom: 1.5pt"><font style="font-family: Times New Roman, Times, Serif"><b>&#xa0;</b></font></td> <td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; text-align: center"><p style="margin-top: 0; margin-bottom: 0"><font style="font-family: Times New Roman, Times, Serif"><b>November&#xa0;18,</b></font></p> <p style="margin-top: 0; margin-bottom: 0"><font style="font-family: Times New Roman, Times, Serif"><b>2019</b></font></p></td><td style="padding-bottom: 1.5pt"><font style="font-family: Times New Roman, Times, Serif"><b>&#xa0;</b></font></td><td style="padding-bottom: 1.5pt"><font style="font-family: Times New Roman, Times, Serif"><b>&#xa0;</b></font></td> <td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; text-align: center"><font style="font-family: Times New Roman, Times, Serif"><b>September&#xa0;24,<br/> 2018</b></font></td><td style="padding-bottom: 1.5pt"><font style="font-family: Times New Roman, Times, Serif"><b>&#xa0;</b></font></td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"><font style="font-family: Times New Roman, Times, Serif">Approval date by Board of Directors</font></td><td><font style="font-family: Times New Roman, Times, Serif">&#xa0;</font></td> <td style="vertical-align: bottom; text-align: center"><font style="font-family: Times New Roman, Times, Serif">&#xa0;</font></td><td><font style="font-family: Times New Roman, Times, Serif">&#xa0;</font></td><td><font style="font-family: Times New Roman, Times, Serif">&#xa0;</font></td> <td style="vertical-align: bottom; text-align: center"><font style="font-family: Times New Roman, Times, Serif">&#xa0;</font></td><td><font style="font-family: Times New Roman, Times, Serif">&#xa0;</font></td><td><font style="font-family: Times New Roman, Times, Serif">&#xa0;</font></td> <td style="vertical-align: bottom; text-align: center"><font style="font-family: Times New Roman, Times, Serif">&#xa0;</font></td><td><font style="font-family: Times New Roman, Times, Serif">&#xa0;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; width: 67%; text-align: left"><font style="font-family: Times New Roman, Times, Serif">Declared dividends per share to be paid in cash S/</font></td><td style="width: 1%"><font style="font-family: Times New Roman, Times, Serif">&#xa0;</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-family: Times New Roman, Times, Serif">0.23000</font></td><td style="width: 1%; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#xa0;</font></td><td style="width: 1%"><font style="font-family: Times New Roman, Times, Serif">&#xa0;</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-family: Times New Roman, Times, Serif">0.36000</font></td><td style="width: 1%; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#xa0;</font></td><td style="width: 1%"><font style="font-family: Times New Roman, Times, Serif">&#xa0;</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-family: Times New Roman, Times, Serif">0.38000</font></td><td style="width: 1%; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#xa0;</font></td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"><font style="font-family: Times New Roman, Times, Serif">Declared dividends S/(000)</font></td><td><font style="font-family: Times New Roman, Times, Serif">&#xa0;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font-family: Times New Roman, Times, Serif">98,465</font></td><td style="text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#xa0;</font></td><td><font style="font-family: Times New Roman, Times, Serif">&#xa0;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font-family: Times New Roman, Times, Serif">154,119</font></td><td style="text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#xa0;</font></td><td><font style="font-family: Times New Roman, Times, Serif">&#xa0;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font-family: Times New Roman, Times, Serif">161,396</font></td><td style="text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#xa0;</font></td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2020 and 2019, dividends payable amount to S/7,686,000 and S/52,523,000, respectively. During 2019, in order to comply with Peruvian law requirements S/280,000, respectively corresponding to dividends payable with aging greater than ten years were transferred from &#x201c;Dividends payable&#x201d; caption to &#x201c;Legal reserve&#x201d; caption in the consolidated statement of changes in equity.</font></p><br/> 423868449 423868449 31728741 392139708 31066186 392802263 40278894 40278894 1 1 36040497 36040497 121258000 121258000 561191000 111484000 928000 In March 2017, S/118,569,000 was debited from this item as a result of the spin-off of the Phosphates Project. See note 9(b). 0.10 0.20 7686000 52523000 During 2019, in order to comply with Peruvian law requirements S/280,000, respectively corresponding to dividends payable with aging greater than ten years were transferred from &#x201c;Dividends payable&#x201d; caption to &#x201c;Legal reserve&#x201d; caption in the consolidated statement of changes in equity. <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: center"><font style="font-family: Times New Roman, Times, Serif">&#xa0;</font></td><td style="font-weight: bold"><font style="font-family: Times New Roman, Times, Serif">&#xa0;</font></td> <td style="vertical-align: bottom; font-weight: bold; text-align: center"><font style="font-family: Times New Roman, Times, Serif">2020</font></td><td style="font-weight: bold"><font style="font-family: Times New Roman, Times, Serif">&#xa0;</font></td><td style="font-weight: bold"><font style="font-family: Times New Roman, Times, Serif">&#xa0;</font></td> <td style="vertical-align: bottom; font-weight: bold; text-align: center"><font style="font-family: Times New Roman, Times, Serif">2019</font></td><td style="font-weight: bold"><font style="font-family: Times New Roman, Times, Serif">&#xa0;</font></td><td style="font-weight: bold"><font style="font-family: Times New Roman, Times, Serif">&#xa0;</font></td> <td style="vertical-align: bottom; font-weight: bold; text-align: center"><font style="font-family: Times New Roman, Times, Serif">2018</font></td><td style="font-weight: bold"><font style="font-family: Times New Roman, Times, Serif">&#xa0;</font></td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in; text-align: center"></td><td style="padding-bottom: 1.5pt"><font style="font-family: Times New Roman, Times, Serif"><b>&#xa0;</b></font></td> <td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; text-align: center"><font style="font-family: Times New Roman, Times, Serif"><b>November&#xa0;16, <br/> 2020</b></font></td><td style="padding-bottom: 1.5pt"><font style="font-family: Times New Roman, Times, Serif"><b>&#xa0;</b></font></td><td style="padding-bottom: 1.5pt"><font style="font-family: Times New Roman, Times, Serif"><b>&#xa0;</b></font></td> <td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; text-align: center"><p style="margin-top: 0; margin-bottom: 0"><font style="font-family: Times New Roman, Times, Serif"><b>November&#xa0;18,</b></font></p> <p style="margin-top: 0; margin-bottom: 0"><font style="font-family: Times New Roman, Times, Serif"><b>2019</b></font></p></td><td style="padding-bottom: 1.5pt"><font style="font-family: Times New Roman, Times, Serif"><b>&#xa0;</b></font></td><td style="padding-bottom: 1.5pt"><font style="font-family: Times New Roman, Times, Serif"><b>&#xa0;</b></font></td> <td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; text-align: center"><font style="font-family: Times New Roman, Times, Serif"><b>September&#xa0;24,<br/> 2018</b></font></td><td style="padding-bottom: 1.5pt"><font style="font-family: Times New Roman, Times, Serif"><b>&#xa0;</b></font></td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"><font style="font-family: Times New Roman, Times, Serif">Approval date by Board of Directors</font></td><td><font style="font-family: Times New Roman, Times, Serif">&#xa0;</font></td> <td style="vertical-align: bottom; text-align: center"><font style="font-family: Times New Roman, Times, Serif">&#xa0;</font></td><td><font style="font-family: Times New Roman, Times, Serif">&#xa0;</font></td><td><font style="font-family: Times New Roman, Times, Serif">&#xa0;</font></td> <td style="vertical-align: bottom; text-align: center"><font style="font-family: Times New Roman, Times, Serif">&#xa0;</font></td><td><font style="font-family: Times New Roman, Times, Serif">&#xa0;</font></td><td><font style="font-family: Times New Roman, Times, Serif">&#xa0;</font></td> <td style="vertical-align: bottom; text-align: center"><font style="font-family: Times New Roman, Times, Serif">&#xa0;</font></td><td><font style="font-family: Times New Roman, Times, Serif">&#xa0;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; width: 67%; text-align: left"><font style="font-family: Times New Roman, Times, Serif">Declared dividends per share to be paid in cash S/</font></td><td style="width: 1%"><font style="font-family: Times New Roman, Times, Serif">&#xa0;</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-family: Times New Roman, Times, Serif">0.23000</font></td><td style="width: 1%; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#xa0;</font></td><td style="width: 1%"><font style="font-family: Times New Roman, Times, Serif">&#xa0;</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-family: Times New Roman, Times, Serif">0.36000</font></td><td style="width: 1%; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#xa0;</font></td><td style="width: 1%"><font style="font-family: Times New Roman, Times, Serif">&#xa0;</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-family: Times New Roman, Times, Serif">0.38000</font></td><td style="width: 1%; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#xa0;</font></td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left"><font style="font-family: Times New Roman, Times, Serif">Declared dividends S/(000)</font></td><td><font style="font-family: Times New Roman, Times, Serif">&#xa0;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font-family: Times New Roman, Times, Serif">98,465</font></td><td style="text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#xa0;</font></td><td><font style="font-family: Times New Roman, Times, Serif">&#xa0;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font-family: Times New Roman, Times, Serif">154,119</font></td><td style="text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#xa0;</font></td><td><font style="font-family: Times New Roman, Times, Serif">&#xa0;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font-family: Times New Roman, Times, Serif">161,396</font></td><td style="text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#xa0;</font></td></tr> </table> 0.23000 0.36000 0.38000 <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="text-align: justify; width: 0"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">19.</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sales of goods</font></td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This caption is made up as follows:</font></p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in; 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&#xa0;31, 2020</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in; 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="padding-left: 0.125in; text-indent: -0.125in; 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="padding-left: 0.125in; text-indent: -0.125in; vertical-align: bottom; font-weight: bold; text-align: left">Segments</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="padding-left: 0.125in; text-indent: -0.125in; width: 30%; text-align: left">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">1,023,907</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">122,109</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">35,144</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">1,181,160</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">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">82,218</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">82,218</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">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">32,473</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">32,473</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; 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">483</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">483</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: 0.125in; text-indent: -0.125in; text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in; text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">1,023,907</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">122,109</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">35,144</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">32,473</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">82,218</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">483</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">1,296,334</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; 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><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-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left">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="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt">Goods transferred at a point in time</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,023,907</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; padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">122,109</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; padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">35,144</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; padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">32,473</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; padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">82,218</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; padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">483</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; padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,296,334</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> </table><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="26" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">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="padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in; 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="padding-left: 0.125in; text-indent: -0.125in; 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="padding-left: 0.125in; text-indent: -0.125in; vertical-align: bottom; font-weight: bold; text-align: left">Segments</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="padding-left: 0.125in; text-indent: -0.125in; width: 30%; text-align: left">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="padding-left: 0.125in; text-indent: -0.125in; text-align: left">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="padding-left: 0.125in; text-indent: -0.125in; text-align: left">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="padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left">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 style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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; padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#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: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#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: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#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: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#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: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#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: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#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: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#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: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; 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><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-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left">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="padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left">Goods transferred at a point in time</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; padding-bottom: 1.5pt; 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; padding-bottom: 1.5pt; 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; padding-bottom: 1.5pt; 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; padding-bottom: 1.5pt; 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; padding-bottom: 1.5pt; 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; padding-bottom: 1.5pt; 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; padding-bottom: 1.5pt; 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="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="26" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">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; padding-left: 0.125in; text-indent: -0.125in; 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="padding-left: 0.125in; text-indent: -0.125in; 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="padding-left: 0.125in; text-indent: -0.125in; vertical-align: bottom; font-weight: bold; text-align: left">Segments</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="padding-left: 0.125in; text-indent: -0.125in; width: 30%; text-align: left">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">976,195</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">136,307</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">1,134,916</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">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">68,762</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">68,762</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">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: 0.125in; text-indent: -0.125in; text-align: left">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: 0.125in; text-indent: -0.125in; text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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; padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">976,195</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 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">136,307</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 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; 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 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; 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 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">68,762</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 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; 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 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: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; 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><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-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left">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="padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left">Goods transferred at a point in time</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">976,195</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; padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">136,307</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; padding-bottom: 1.5pt; 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; padding-bottom: 1.5pt; 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; padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">68,762</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; padding-bottom: 1.5pt; 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; padding-bottom: 1.5pt; 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/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 dispatch.</font></p><br/> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in; 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&#xa0;31, 2020</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in; 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="padding-left: 0.125in; text-indent: -0.125in; 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="padding-left: 0.125in; text-indent: -0.125in; vertical-align: bottom; font-weight: bold; text-align: left">Segments</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="padding-left: 0.125in; text-indent: -0.125in; width: 30%; text-align: left">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">1,023,907</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">122,109</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">35,144</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">1,181,160</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">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">82,218</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">82,218</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">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">32,473</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">32,473</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; 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">483</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">483</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: 0.125in; text-indent: -0.125in; text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in; text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">1,023,907</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">122,109</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">35,144</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">32,473</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">82,218</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">483</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">1,296,334</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; 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><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-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left">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="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt">Goods transferred at a point in time</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,023,907</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; padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">122,109</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; padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">35,144</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; padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">32,473</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; padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">82,218</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; padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">483</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; padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,296,334</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> </table><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="26" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">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="padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in; 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="padding-left: 0.125in; text-indent: -0.125in; 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="padding-left: 0.125in; text-indent: -0.125in; vertical-align: bottom; font-weight: bold; text-align: left">Segments</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="padding-left: 0.125in; text-indent: -0.125in; width: 30%; text-align: left">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="padding-left: 0.125in; text-indent: -0.125in; text-align: left">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="padding-left: 0.125in; text-indent: -0.125in; text-align: left">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="padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left">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 style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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; padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#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: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#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: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#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: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#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: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#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: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#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: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#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: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; 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><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-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left">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="padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left">Goods transferred at a point in time</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; padding-bottom: 1.5pt; 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; padding-bottom: 1.5pt; 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; padding-bottom: 1.5pt; 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; padding-bottom: 1.5pt; 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; padding-bottom: 1.5pt; 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; padding-bottom: 1.5pt; 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; padding-bottom: 1.5pt; 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="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="26" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">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; padding-left: 0.125in; text-indent: -0.125in; 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="padding-left: 0.125in; text-indent: -0.125in; 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="padding-left: 0.125in; text-indent: -0.125in; vertical-align: bottom; font-weight: bold; text-align: left">Segments</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="padding-left: 0.125in; text-indent: -0.125in; width: 30%; text-align: left">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">976,195</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">136,307</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">1,134,916</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">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">68,762</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">68,762</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">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: 0.125in; text-indent: -0.125in; text-align: left">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: 0.125in; text-indent: -0.125in; text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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; padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">976,195</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 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">136,307</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 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; 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 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; 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 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">68,762</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 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; 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 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: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; 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><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-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left">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="padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left">Goods transferred at a point in time</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">976,195</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; padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">136,307</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; padding-bottom: 1.5pt; 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; padding-bottom: 1.5pt; 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; padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">68,762</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; padding-bottom: 1.5pt; 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; padding-bottom: 1.5pt; 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> 1023907000 122109000 35144000 1181160000 82218000 82218000 32473000 32473000 483000 483000 1023907000 122109000 35144000 32473000 82218000 483000 1296334000 1023907000 122109000 35144000 32473000 82218000 483000 1296334000 1065857000 197268000 25909000 1289034000 67225000 67225000 36109000 36109000 333000 333000 1065857000 197268000 25909000 36109000 67225000 333000 1392701000 1065857000 197268000 25909000 36109000 67225000 333000 1392701000 976195000 136307000 22414000 1134916000 68762000 68762000 57564000 57564000 1692000 1692000 976195000 136307000 22414000 57564000 68762000 1692000 1262934000 976195000 136307000 22414000 57564000 68762000 1692000 1262934000 <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="text-align: justify; width: 0"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">20.</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cost of sales</font></td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This caption is made up as follows:</font></p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in; 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">2020</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="padding-left: 0.125in; text-indent: -0.125in; 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; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; width: 64%; text-align: left">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">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><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></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; 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">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><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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Consumption of miscellaneous supplies</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">295,688</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">284,298</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">249,709</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Maintenance and third-party services</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">147,282</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">211,251</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">172,115</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Depreciation and amortization</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">122,541</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Shipping costs</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">113,054</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Personnel expenses, note 23(b)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">89,805</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Costs of packaging</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">45,032</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Other manufacturing expenses</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">45,637</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">63,750</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">44,751</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">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">(12,877</td><td style="text-align: left">)</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; 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">(114,246</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">(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></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in; text-align: left; 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">921,048</td><td style="padding-bottom: 2pt; 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">905,806</td><td style="padding-bottom: 2pt; 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: 2pt; text-align: left">&#xa0;</td></tr> </table><br/> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in; 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">2020</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="padding-left: 0.125in; text-indent: -0.125in; 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; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; width: 64%; text-align: left">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">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><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></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; 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">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><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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Consumption of miscellaneous supplies</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">295,688</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">284,298</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">249,709</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Maintenance and third-party services</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">147,282</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">211,251</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">172,115</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Depreciation and amortization</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">122,541</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Shipping costs</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">113,054</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Personnel expenses, note 23(b)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">89,805</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Costs of packaging</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">45,032</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Other manufacturing expenses</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">45,637</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">63,750</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">44,751</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">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">(12,877</td><td style="text-align: left">)</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; 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">(114,246</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">(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></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in; text-align: left; 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">921,048</td><td style="padding-bottom: 2pt; 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">905,806</td><td style="padding-bottom: 2pt; 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: 2pt; text-align: left">&#xa0;</td></tr> </table> 22133000 16832000 27386000 166999000 133972000 105882000 295688000 284298000 249709000 147282000 211251000 172115000 122541000 115245000 117273000 113054000 123989000 107221000 89805000 101185000 84190000 45032000 44416000 38483000 45637000 63750000 44751000 12877000 114246000 921048000 905806000 796206000 <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="text-align: justify; width: 0"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">21.</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Administrative expenses</font></td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This caption is made up as follows:</font></p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in; 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">2020</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="padding-left: 0.125in; text-indent: -0.125in; 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; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; width: 64%; text-align: left">Personnel expenses, note 23(b)</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">76,291</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">84,359</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></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Third-party services</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">48,713</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Depreciation and amortization</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">16,626</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Donations</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">9,188</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Board of Directors compensation</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">5,992</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Taxes</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">5,262</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Consumption of supplies</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,297</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.5pt; text-align: left">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">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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in; text-align: left; 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">163,369</td><td style="padding-bottom: 2pt; 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">174,482</td><td style="padding-bottom: 2pt; 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: 2pt; text-align: left">&#xa0;</td></tr> </table><br/> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in; 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">2020</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="padding-left: 0.125in; text-indent: -0.125in; 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; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; width: 64%; text-align: left">Personnel expenses, note 23(b)</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">76,291</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">84,359</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></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Third-party services</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">48,713</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Depreciation and amortization</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">16,626</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Donations</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">9,188</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Board of Directors compensation</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">5,992</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Taxes</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">5,262</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Consumption of supplies</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,297</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.5pt; text-align: left">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">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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in; text-align: left; 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">163,369</td><td style="padding-bottom: 2pt; 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">174,482</td><td style="padding-bottom: 2pt; 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: 2pt; text-align: left">&#xa0;</td></tr> </table> 76291000 84359000 84660000 48713000 52974000 51553000 16626000 14573000 12046000 9188000 8796000 9934000 5992000 6696000 6815000 5262000 4980000 4760000 1297000 1671000 1826000 433000 547000 163369000 174482000 172141000 <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="text-align: justify; width: 0"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">22.</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Selling and distribution expenses</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This caption is made up as follows:</font></p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in; 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">2020</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="padding-left: 0.125in; text-indent: -0.125in; 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; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; width: 64%; text-align: left">Personnel expenses, note 23(b)</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">26,283</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">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></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Third-party services</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">7,326</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Advertising and promotion</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">3,285</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; 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">1,582</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.5pt; text-align: left">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">1,677</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">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></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in; text-align: left; 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">40,153</td><td style="padding-bottom: 2pt; 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">44,533</td><td style="padding-bottom: 2pt; 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: 2pt; text-align: left">&#xa0;</td></tr> </table><br/> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in; 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">2020</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="padding-left: 0.125in; text-indent: -0.125in; 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; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; width: 64%; text-align: left">Personnel expenses, note 23(b)</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">26,283</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">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></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Third-party services</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">7,326</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Advertising and promotion</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">3,285</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; 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">1,582</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.5pt; text-align: left">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">1,677</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">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></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in; text-align: left; 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">40,153</td><td style="padding-bottom: 2pt; 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">44,533</td><td style="padding-bottom: 2pt; 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: 2pt; text-align: left">&#xa0;</td></tr> </table> 26283000 26818000 21707000 7326000 8636000 7549000 3285000 6981000 13149000 1582000 1452000 683000 1677000 646000 1029000 40153000 44533000 44117000 <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="text-align: justify; width: 0"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">23.</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Employee benefits expenses</font></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="text-align: justify; width: 0.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Employee benefits expenses are made up as follow:</font></td></tr></table><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in; 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">2020</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="padding-left: 0.125in; text-indent: -0.125in; 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; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; 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">115,630</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">128,809</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></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Legal bonuses</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">17,413</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Vacations</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">16,301</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Workers &#x2018;profit sharing, note 15</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">9,513</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Social contributions</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">26,085</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Long-term compensation, note 15</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">5,759</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">9,495</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Cessation payments</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">858</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Training</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">476</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; 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">344</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">1,191</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></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in; text-align: left; 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">192,379</td><td style="padding-bottom: 2pt; 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">212,362</td><td style="padding-bottom: 2pt; 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: 2pt; text-align: left">&#xa0;</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="text-align: justify; width: 0.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Employee benefits expenses are allocated as follows:</font></td></tr></table><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in; 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">2020</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="padding-left: 0.125in; text-indent: -0.125in; 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; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; width: 64%; text-align: left">Cost of sales, note 20</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">89,805</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">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></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Administrative expenses, note 21</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">76,291</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.5pt; text-align: left">Selling and distribution expenses, note 22</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">26,283</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">26,818</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></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 4pt">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">192,379</td><td style="padding-bottom: 2pt; 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">212,362</td><td style="padding-bottom: 2pt; 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: 2pt; text-align: left">&#xa0;</td></tr> </table><br/> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in; 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">2020</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="padding-left: 0.125in; text-indent: -0.125in; 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; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; 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">115,630</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">128,809</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></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Legal bonuses</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">17,413</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Vacations</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">16,301</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Workers &#x2018;profit sharing, note 15</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">9,513</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Social contributions</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">26,085</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Long-term compensation, note 15</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">5,759</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">9,495</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Cessation payments</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">858</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Training</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">476</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; 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">344</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">1,191</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></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in; text-align: left; 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">192,379</td><td style="padding-bottom: 2pt; 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">212,362</td><td style="padding-bottom: 2pt; 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: 2pt; text-align: left">&#xa0;</td></tr> </table> 115630000 128809000 107128000 17413000 16837000 15156000 16301000 15461000 14305000 9513000 15169000 15712000 26085000 25468000 21523000 858000 2044000 3524000 476000 860000 2344000 344000 1191000 1370000 192379000 212362000 190557000 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in; 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">2020</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="padding-left: 0.125in; text-indent: -0.125in; 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; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; width: 64%; text-align: left">Cost of sales, note 20</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">89,805</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">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></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Administrative expenses, note 21</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">76,291</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.5pt; text-align: left">Selling and distribution expenses, note 22</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">26,283</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">26,818</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></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 4pt">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">192,379</td><td style="padding-bottom: 2pt; 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">212,362</td><td style="padding-bottom: 2pt; 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: 2pt; text-align: left">&#xa0;</td></tr> </table> <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="text-align: justify; width: 0"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">24.</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other operating income (expense), net</font></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="text-align: justify; width: 0.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This caption is made up as follows:</font></td></tr></table><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in; 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">2020</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="padding-left: 0.125in; text-indent: -0.125in; 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; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; width: 64%; text-align: left">Expenses to counteract the COVID-19 effect, note 1.1</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">(2,642</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">-</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="padding-left: 0.125in; text-indent: -0.125in; text-align: left">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">2,591</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Income from land rental and office lease, note 27</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,859</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Recovery of expenses</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,166</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Income from management and administrative services provided to related parties, note 27</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">834</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,744</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,765</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Changes in the estimation of rehabilitation provision</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">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Write-off for disasters</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">(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></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; 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">-</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">(9,034</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">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">-</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></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.5pt; text-align: left">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">538</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">1,857</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in; text-align: left; 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">4,346</td><td style="padding-bottom: 2pt; 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">2,645</td><td style="padding-bottom: 2pt; 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: 2pt; text-align: left">)</td></tr> </table><br/> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in; 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">2020</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="padding-left: 0.125in; text-indent: -0.125in; 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; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; width: 64%; text-align: left">Expenses to counteract the COVID-19 effect, note 1.1</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">(2,642</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">-</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="padding-left: 0.125in; text-indent: -0.125in; text-align: left">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">2,591</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Income from land rental and office lease, note 27</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,859</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Recovery of expenses</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,166</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Income from management and administrative services provided to related parties, note 27</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">834</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,744</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,765</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Changes in the estimation of rehabilitation provision</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">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Write-off for disasters</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">(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></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; 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">-</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">(9,034</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">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">-</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></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.5pt; text-align: left">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">538</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">1,857</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in; text-align: left; 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">4,346</td><td style="padding-bottom: 2pt; 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">2,645</td><td style="padding-bottom: 2pt; 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: 2pt; text-align: left">)</td></tr> </table> -2642000 2591000 -1846000 4599000 1859000 722000 707000 -1166000 -525000 -534000 -834000 -1744000 -1765000 -910000 357000 784000 9034000 5675000 -538000 -1857000 1719000 4346000 2645000 -8697000 <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="text-align: justify; width: 0"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">25.</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Finance income</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This caption is made up as follows:</font></p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in; 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">2020</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="padding-left: 0.125in; text-indent: -0.125in; 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; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; width: 64%; text-align: left">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">2,243</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">1,014</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></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Interests on accounts receivable</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">204</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Credit value adjust on 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">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></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left">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">529</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">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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in; text-align: left; 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">2,976</td><td style="padding-bottom: 2pt; 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">2,576</td><td style="padding-bottom: 2pt; 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: 2pt; text-align: left">&#xa0;</td></tr> </table><br/> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in; 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">2020</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="padding-left: 0.125in; text-indent: -0.125in; 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; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; width: 64%; text-align: left">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">2,243</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">1,014</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></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Interests on accounts receivable</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">204</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Credit value adjust on 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">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></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in; text-align: left">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">529</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">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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in; text-align: left; 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">2,976</td><td style="padding-bottom: 2pt; 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">2,576</td><td style="padding-bottom: 2pt; 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: 2pt; text-align: left">&#xa0;</td></tr> </table> 2243000 1014000 1111000 204000 715000 745000 -99000 529000 748000 511000 2976000 2576000 2367000 <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="text-align: justify; width: 0"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">26.</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Finance costs</font></td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This caption is made up as follows:</font></p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in; 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">2020</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="padding-left: 0.125in; text-indent: -0.125in; 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; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; width: 64%; text-align: left">Interest on senior notes, note 16 (c)</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">60,857</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: 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></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Finance cost on cross currency swaps</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">16,144</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Interest on promissory notes</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">8,298</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">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">816</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Interest for bank overdraft</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">-</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-left: 0.125in; text-indent: -0.125in; text-align: left">Counterparty credit risk in cross currency swaps</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">542</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">2,306</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Interest on lease liabilities</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">414</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-left: 0.125in; text-indent: -0.125in; text-align: left">Commission for prepayment of loans</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">325</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="padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.5pt; text-align: left">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">69</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">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></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left">Total interest expense</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">88,267</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.5pt; text-align: left">Unwinding of discount of provisions, note 15</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">427</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">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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left; padding-bottom: 4pt">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">88,694</td><td style="padding-bottom: 2pt; 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">77,986</td><td style="padding-bottom: 2pt; 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: 2pt; text-align: left">&#xa0;</td></tr> </table><br/> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in; 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">2020</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="padding-left: 0.125in; text-indent: -0.125in; 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; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; width: 64%; text-align: left">Interest on senior notes, note 16 (c)</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 9%; text-align: right">60,857</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: 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></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Finance cost on cross currency swaps</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">16,144</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Interest on promissory notes</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">8,298</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">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">816</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Interest for bank overdraft</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">-</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-left: 0.125in; text-indent: -0.125in; text-align: left">Counterparty credit risk in cross currency swaps</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">542</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">2,306</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Interest on lease liabilities</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">414</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-left: 0.125in; text-indent: -0.125in; text-align: left">Commission for prepayment of loans</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">325</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="padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.5pt; text-align: left">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">69</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">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></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left">Total interest expense</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">88,267</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.5pt; text-align: left">Unwinding of discount of provisions, note 15</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">427</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">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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left; padding-bottom: 4pt">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">88,694</td><td style="padding-bottom: 2pt; 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">77,986</td><td style="padding-bottom: 2pt; 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: 2pt; text-align: left">&#xa0;</td></tr> </table> 60857000 56081000 45380000 16144000 14958000 26185000 8298000 5537000 2505000 816000 807000 9874000 802000 542000 2306000 414000 325000 69000 145000 321000 88267000 77528000 86571000 -427000 -458000 -767000 88694000 77986000 87338000 <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="text-align: justify; width: 0"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">27.</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Related party disclosure</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Transactions with related entities -</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During 2020, 2019 and 2018, the Company carried out the following transactions with its parent company, Inversiones ASPI S.A. and its affiliates:</font></p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in; 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">2020</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="padding-left: 0.125in; text-indent: -0.125in; 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="padding-left: 0.125in; text-indent: -0.125in; vertical-align: bottom; font-weight: bold; text-align: left">Income</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="padding-left: 0.125in; text-indent: -0.125in; vertical-align: bottom; text-align: left">Inversiones ASPI S.A. (ASPI)</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="padding-left: 0.25in; text-indent: -0.125in; width: 64%; text-align: left">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">17</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="padding-left: 0.25in; text-indent: -0.125in; text-align: left">Fees for management and administrative services</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">88</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">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="padding-left: 0.25in; text-indent: -0.125in; text-align: left">Income from land lease, note 29</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,303</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.25in; text-indent: -0.125in; text-align: left">Income from office lease</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">478</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Fossal S.A.A. (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="padding-left: 0.25in; text-indent: -0.125in; text-align: left">Income from office lease</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">19</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.25in; text-indent: -0.125in; text-align: left">Fees for management and administrative services</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">48</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><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; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">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="padding-left: 0.25in; text-indent: -0.125in; text-align: left">Income from office lease</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">24</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.25in; text-indent: -0.125in; text-align: left">Fees for management and administrative services</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">698</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Asociaci&#xf3;n Sumac Tarpuy</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.25in; text-indent: -0.125in; text-align: left">Income from office lease</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">18</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-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left">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="padding-left: 0.125in; text-indent: -0.125in; text-align: left">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">1,912</td><td style="text-align: left">&#xa0;</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></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As a result of these transactions, the Company had the following rights and obligations as of December 31, 2020 and 2019:</font></p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2020</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="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in; 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">Accounts <br/> receivable</td><td style="padding-bottom: 1.5pt; 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background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Inversiones ASPI S.A.</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">211</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; 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">85</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">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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in; text-align: left; 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">2,212</td><td style="padding-bottom: 2pt; 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">1,559</td><td style="padding-bottom: 2pt; 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">1,171</td><td style="padding-bottom: 2pt; 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: 2pt; text-align: left">&#xa0;</td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Terms and conditions of transactions with related parties -</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 as of December 31, 2020, 2019 and 2018, the Group has not recorded 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.<br style="clear: both"/></font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Compensation of key management personnel of the Group -</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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, 2020, the total short-term compensations amounted to S/24,076,000 (2019: S/23,692,000 and 2018:S/24,129,000) and the total long-term compensations amounted to S/5,759,000 (2019: S/6,523,000 and 2018:S/9,495,000), and there were no post-employment or contract termination benefits or share-payments.</font></p><br/> 24076000 23692000 24129000 5759000 6523000 9495000 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in; 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">2020</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="padding-left: 0.125in; text-indent: -0.125in; 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="padding-left: 0.125in; text-indent: -0.125in; vertical-align: bottom; font-weight: bold; text-align: left">Income</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="padding-left: 0.125in; text-indent: -0.125in; vertical-align: bottom; text-align: left">Inversiones ASPI S.A. (ASPI)</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="padding-left: 0.25in; text-indent: -0.125in; width: 64%; text-align: left">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">17</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="padding-left: 0.25in; text-indent: -0.125in; text-align: left">Fees for management and administrative services</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">88</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">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="padding-left: 0.25in; text-indent: -0.125in; text-align: left">Income from land lease, note 29</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,303</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.25in; text-indent: -0.125in; text-align: left">Income from office lease</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">478</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Fossal S.A.A. (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="padding-left: 0.25in; text-indent: -0.125in; text-align: left">Income from office lease</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">19</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.25in; text-indent: -0.125in; text-align: left">Fees for management and administrative services</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">48</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><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; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">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="padding-left: 0.25in; text-indent: -0.125in; text-align: left">Income from office lease</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">24</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.25in; text-indent: -0.125in; text-align: left">Fees for management and administrative services</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">698</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Asociaci&#xf3;n Sumac Tarpuy</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.25in; text-indent: -0.125in; text-align: left">Income from office lease</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">18</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-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left">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="padding-left: 0.125in; text-indent: -0.125in; text-align: left">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">1,912</td><td style="text-align: left">&#xa0;</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></tr> </table> 17000 12000 12000 88000 544000 548000 1303000 344000 339000 478000 323000 318000 19000 15000 12000 48000 40000 42000 24000 28000 26000 698000 1160000 1175000 18000 1912000 1989000 2059000 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2020</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="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in; 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">Accounts <br/> receivable</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; 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background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Inversiones ASPI S.A.</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">211</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; 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">85</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">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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in; text-align: left; 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">2,212</td><td style="padding-bottom: 2pt; 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">1,559</td><td style="padding-bottom: 2pt; 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">1,171</td><td style="padding-bottom: 2pt; 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: 2pt; text-align: left">&#xa0;</td></tr> </table> 1449000 543000 678000 1348000 207000 1772000 211000 157000 85000 264000 2212000 1559000 1171000 1772000 <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="text-align: justify; width: 0"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">28.</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Earnings per share (EPS)</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basic earnings per share 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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following reflects the income and share data used in the basic EPS computations:</font></p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in; 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">2020</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="padding-left: 0.125in; text-indent: -0.125in; 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="padding-left: 0.125in; text-indent: -0.125in; vertical-align: bottom; font-weight: bold; text-align: left">Numerator</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="padding-left: 0.125in; text-indent: -0.125in; width: 64%; font-weight: normal; text-align: left; padding-bottom: 4pt">Net profit attributable to ordinary equity holders of the Parent</td><td style="width: 1%; font-weight: normal; padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; width: 1%; font-weight: normal; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; width: 9%; font-weight: normal; text-align: right">57,894</td><td style="width: 1%; padding-bottom: 2pt; font-weight: normal; text-align: left">&#xa0;</td><td style="width: 1%; font-weight: normal; padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; width: 1%; font-weight: normal; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; width: 9%; font-weight: normal; text-align: right">132,047</td><td style="width: 1%; padding-bottom: 2pt; font-weight: normal; text-align: left">&#xa0;</td><td style="width: 1%; font-weight: normal; padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; width: 1%; font-weight: normal; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; width: 9%; font-weight: normal; text-align: right">76,699</td><td style="width: 1%; padding-bottom: 2pt; font-weight: normal; text-align: left">&#xa0;</td></tr> </table><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in; 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">2020</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="padding-left: 0.125in; text-indent: -0.125in; vertical-align: bottom; font-weight: bold; text-align: left">Denominator</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="padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 2pt; vertical-align: bottom; width: 64%; font-weight: normal; text-align: left"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal">Weighted average number of common and investment shares (thousands of shares)</font></td><td style="padding-bottom: 2pt; width: 1%; font-weight: normal">&#xa0;</td> <td style="border-bottom: Black 4pt double; width: 1%; font-weight: normal; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; width: 9%; font-weight: normal; text-align: right">428,107</td><td style="padding-bottom: 2pt; width: 1%; font-weight: normal; text-align: left">&#xa0;</td><td style="padding-bottom: 2pt; width: 1%; font-weight: normal">&#xa0;</td> <td style="border-bottom: Black 4pt double; width: 1%; font-weight: normal; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; width: 9%; font-weight: normal; text-align: right">428,107</td><td style="padding-bottom: 2pt; width: 1%; font-weight: normal; text-align: left">&#xa0;</td><td style="padding-bottom: 2pt; width: 1%; font-weight: normal">&#xa0;</td> <td style="border-bottom: Black 4pt double; width: 1%; font-weight: normal; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; width: 9%; font-weight: normal; text-align: right">428,107</td><td style="padding-bottom: 2pt; width: 1%; font-weight: normal; text-align: left">&#xa0;</td></tr> </table><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <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">2020</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/</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; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left; padding-bottom: 2pt; width: 64%">Basic profit for common and investment shares</td><td style="font-weight: normal; padding-bottom: 2pt; width: 1%">&#xa0;</td> <td style="border-bottom: Black 4pt double; font-weight: normal; text-align: left; width: 1%">&#xa0;</td><td style="border-bottom: Black 4pt double; font-weight: normal; text-align: right; width: 9%">0.14</td><td style="padding-bottom: 2pt; font-weight: normal; text-align: left; width: 1%">&#xa0;</td><td style="font-weight: normal; padding-bottom: 2pt; width: 1%">&#xa0;</td> <td style="border-bottom: Black 4pt double; font-weight: normal; text-align: left; width: 1%">&#xa0;</td><td style="border-bottom: Black 4pt double; font-weight: normal; text-align: right; width: 9%">0.31</td><td style="padding-bottom: 2pt; font-weight: normal; text-align: left; width: 1%">&#xa0;</td><td style="font-weight: normal; padding-bottom: 2pt; width: 1%">&#xa0;</td> <td style="border-bottom: Black 4pt double; font-weight: normal; text-align: left; width: 1%">&#xa0;</td><td style="border-bottom: Black 4pt double; font-weight: normal; text-align: right; width: 9%">0.18</td><td style="padding-bottom: 2pt; font-weight: normal; text-align: left; width: 1%">&#xa0;</td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Group has no dilutive potential ordinary shares as of December 31, 2020 and 2019.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">There have been no other transactions involving common shares or investment shares between the reporting date and the date of the authorization of these consolidated financial statements.</font></p><br/> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in; 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">2020</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="padding-left: 0.125in; text-indent: -0.125in; 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="padding-left: 0.125in; text-indent: -0.125in; vertical-align: bottom; font-weight: bold; text-align: left">Numerator</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="padding-left: 0.125in; text-indent: -0.125in; width: 64%; font-weight: normal; text-align: left; padding-bottom: 4pt">Net profit attributable to ordinary equity holders of the Parent</td><td style="width: 1%; font-weight: normal; padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; width: 1%; font-weight: normal; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; width: 9%; font-weight: normal; text-align: right">57,894</td><td style="width: 1%; padding-bottom: 2pt; font-weight: normal; text-align: left">&#xa0;</td><td style="width: 1%; font-weight: normal; padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; width: 1%; font-weight: normal; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; width: 9%; font-weight: normal; text-align: right">132,047</td><td style="width: 1%; padding-bottom: 2pt; font-weight: normal; text-align: left">&#xa0;</td><td style="width: 1%; font-weight: normal; padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; width: 1%; font-weight: normal; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; width: 9%; font-weight: normal; text-align: right">76,699</td><td style="width: 1%; padding-bottom: 2pt; font-weight: normal; text-align: left">&#xa0;</td></tr> </table><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in; 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">2020</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="padding-left: 0.125in; text-indent: -0.125in; vertical-align: bottom; font-weight: bold; text-align: left">Denominator</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="padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 2pt; vertical-align: bottom; width: 64%; font-weight: normal; text-align: left"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal">Weighted average number of common and investment shares (thousands of shares)</font></td><td style="padding-bottom: 2pt; width: 1%; font-weight: normal">&#xa0;</td> <td style="border-bottom: Black 4pt double; width: 1%; font-weight: normal; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; width: 9%; font-weight: normal; text-align: right">428,107</td><td style="padding-bottom: 2pt; width: 1%; font-weight: normal; text-align: left">&#xa0;</td><td style="padding-bottom: 2pt; width: 1%; font-weight: normal">&#xa0;</td> <td style="border-bottom: Black 4pt double; width: 1%; font-weight: normal; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; width: 9%; font-weight: normal; text-align: right">428,107</td><td style="padding-bottom: 2pt; width: 1%; font-weight: normal; text-align: left">&#xa0;</td><td style="padding-bottom: 2pt; width: 1%; font-weight: normal">&#xa0;</td> <td style="border-bottom: Black 4pt double; width: 1%; font-weight: normal; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; width: 9%; font-weight: normal; text-align: right">428,107</td><td style="padding-bottom: 2pt; width: 1%; font-weight: normal; text-align: left">&#xa0;</td></tr> </table><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <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">2020</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/</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; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left; padding-bottom: 2pt; width: 64%">Basic profit for common and investment shares</td><td style="font-weight: normal; padding-bottom: 2pt; width: 1%">&#xa0;</td> <td style="border-bottom: Black 4pt double; font-weight: normal; text-align: left; width: 1%">&#xa0;</td><td style="border-bottom: Black 4pt double; font-weight: normal; text-align: right; width: 9%">0.14</td><td style="padding-bottom: 2pt; font-weight: normal; text-align: left; width: 1%">&#xa0;</td><td style="font-weight: normal; padding-bottom: 2pt; width: 1%">&#xa0;</td> <td style="border-bottom: Black 4pt double; font-weight: normal; text-align: left; width: 1%">&#xa0;</td><td style="border-bottom: Black 4pt double; font-weight: normal; text-align: right; width: 9%">0.31</td><td style="padding-bottom: 2pt; font-weight: normal; text-align: left; width: 1%">&#xa0;</td><td style="font-weight: normal; padding-bottom: 2pt; width: 1%">&#xa0;</td> <td style="border-bottom: Black 4pt double; font-weight: normal; text-align: left; width: 1%">&#xa0;</td><td style="border-bottom: Black 4pt double; font-weight: normal; text-align: right; width: 9%">0.18</td><td style="padding-bottom: 2pt; font-weight: normal; text-align: left; width: 1%">&#xa0;</td></tr> </table> 57894000 132047000 76699000 428107 428107 428107 <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="text-align: justify; width: 0"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">29.</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Commitments and contingencies</font></td></tr></table><br/><p style="text-align: justify; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Operating lease commitments &#x2013; Group as lessor</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal">As of December 31, 2020, 2019 and 2018, the Group, as lessor, has 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/1,303,000, S/344,000 and S/339,000, respectively. See note 27.</font></p><br/><p style="text-align: justify; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Capital commitments</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal">As of December 31, 2020 and 2019, the Group had no significant capital commitments. </font></p><br/><p style="text-align: justify; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Usufruct Concessions</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal">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 maturity of 30 years, with fixed annual payments of US$600,000 for the first three years and variables to the rest of the contract. The related expense as of December 31, 2020 and 2019 amounted to S/5,918,000 and S/7,039,000, respectively, and was recognized as part of the cost of inventory production. As part of this agreement, the Company is required to pay an equivalent amount to S/4.5 each for each metric ton of calcareous extracted that is indexed by inflation after the first year of exploitation; the annual royalty may not be less than the equivalent to 850,000 metric tons since the fourth year of production.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal">The Company signed with two third parties in October 2007, an agreement related to usufruct of the Bayovar 4 concession for an indefinite period to extract seashells and other minerals. As consequence, the Group made payments amounting to US$250,000 for each third party for the first five years and variable payments for the rest of the contract. The related expense as of December 31, 2020 and 2019 amounted to S/1,547,000 and S/1,403,000, respectively, and were recognized as part of the cost of inventory production. As part of this agreement, the Company is required to pay an equivalent amount to US$5.1 to each third party for every metric ton of calcareous extracted, with the minimum production level for the calculation of 20,000 metric tons every six months since the sixth year of production.</font></p><br/><p style="text-align: justify; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mining royalty</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal">According with 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="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal">Mining royalty expense paid to the Peruvian Government for 2020, 2019 and 2018 amounted to S/555,000, S/1,012,000 and S/1,179,000, respectively, and is recognized as part of the cost of inventory production. </font></p><br/><p style="text-align: justify; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tax situation</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company is subject to Peruvian tax law. As of December 31, 2020, 2019 and 2018, the income tax rate is 29.5% of the taxable profit after deducting employee participation, which is calculated at a rate of 8% to 10% of the taxable income.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 the application of these standards will not result in significant contingencies for the Group as of December 31, 2020 and 2019.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 and the exemption of the Value added tax for the importation of goods that are destined for consumption in the Amazon.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The statements of income tax and Value added tax corresponding to the years indicated in the attached table are subject to review by the tax authorities:</font></p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left; padding-bottom: 1.5pt">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="3" style="border-bottom: Black 1.5pt solid; vertical-align: bottom; font-weight: bold; text-align: center">Years open to review by Tax Authority</td> <td style="vertical-align: bottom; font-weight: bold; text-align: center">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; padding-left: 0.125in; text-indent: -0.125in; width: 67%; font-weight: bold; text-align: left">Entity</td><td style="padding-bottom: 1.5pt; width: 1%; font-weight: bold">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; width: 15%; font-weight: bold; text-align: center">Income tax</td><td style="padding-bottom: 1.5pt; width: 1%; font-weight: bold">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; width: 15%; font-weight: bold; text-align: center">Value-added tax</td> <td style="padding-bottom: 1.5pt; width: 1%">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Cementos Pacasmayo S.A.A.</td><td>&#xa0;</td> <td style="text-align: center">2016-2020</td><td style="text-align: center">&#xa0;</td> <td style="text-align: center">Dec. 2016-2020</td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Cementos Selva S.A.</td><td>&#xa0;</td> <td style="text-align: center">2016-2020</td><td style="text-align: center">&#xa0;</td> <td style="text-align: center">Dec. 2016-2020</td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Distribuidora Norte Pacasmayo S.R.L.</td><td>&#xa0;</td> <td style="text-align: center">2016-2020</td><td style="text-align: center">&#xa0;</td> <td style="text-align: center">Dec. 2016-2020</td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Empresa de Transmisi&#xf3;n Guadalupe S.A.C.</td><td>&#xa0;</td> <td style="text-align: center">2016-2020</td><td style="text-align: center">&#xa0;</td> <td style="text-align: center">Dec. 2016-2020</td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Salmueras Sudamericanas S.A.</td><td>&#xa0;</td> <td style="text-align: center">2016-2020</td><td style="text-align: center">&#xa0;</td> <td style="text-align: center">Dec. 2016-2020</td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Calizas del Norte S.A.C. (in liquidation)</td><td>&#xa0;</td> <td style="text-align: center">2016-2020</td><td style="text-align: center">&#xa0;</td> <td style="text-align: center">Dec. 2016-2020</td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; text-align: left">Soluciones Takay S.A.C.</td><td>&#xa0;</td> <td style="vertical-align: top; text-align: center">2019-2020</td><td style="text-align: center">&#xa0;</td> <td style="text-align: center">May to Dec. 2019-2020</td> <td>&#xa0;</td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 the opinion of Company&#x2019;s Management and of the Company&#x2019;s legal advisors, any possible additional payment of taxes would not have a material effect on the consolidated financial statements as of December 31, 2020 and 2019.</font></p><br/><p style="text-align: justify; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Environmental matters</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal">The Group&#x2019;s exploration and exploitation activities are subject to environmental protection standards. </font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Environmental remediation -</i></font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Peruvian authorities approved the EIS and EAMP presented by the Group for its mining concessions and exploration projects. 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text-align: left">&#xa0;</td> <td style="text-align: left; padding-bottom: 4pt">&#xa0;</td> <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">552</td><td style="padding-bottom: 2pt; 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">433</td><td style="padding-bottom: 2pt; 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: 2pt; text-align: left">&#xa0;</td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2020 and 2019, the Group had no liabilities related to environmental remediation expenses because all were liquid before the end of the year.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Quarry rehabilitation provision -</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 Quarries 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, 2020 and 2019, the Group maintains a provision for the closing of the quarries utilized by the Company in its operations amounting to S/10,161,000 and S/1,829,000, 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 15.</font></p><br/><p style="text-align: justify; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Legal claim contingency</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal">The Group has received claims from third parties in relation with its operations which in aggregate represent S/11,687,000. From this total amount, S/1,708,000 corresponded to labor claims from former employees, S/7,681,000 related to property tax assessment for the periods 2009 to 2014 received from Pacasmayo&#x2019;s City Hall; S/2,298,000 is related to the tax assessments received from the tax administration corresponding to 2009 tax period, which was reviewed by the tax authority during 2012.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal">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.</font></p><br/> 1303000 344000 339000 P30Y 600000 P3Y 5918000 7039000 As part of this agreement, the Company is required to pay an equivalent amount to S/4.5 each for each metric ton of calcareous extracted that is indexed by inflation after the first year of exploitation; the annual royalty may not be less than the equivalent to 850,000 metric tons since the fourth year of production. As consequence, the Group made payments amounting to US$250,000 for each third party for the first five years and variable payments for the rest of the contract. The related expense as of December 31, 2020 and 2019 amounted to S/1,547,000 and S/1,403,000, respectively, and were recognized as part of the cost of inventory production. As part of this agreement, the Company is required to pay an equivalent amount to US$5.1 to each third party for every metric ton of calcareous extracted, with the minimum production level for the calculation of 20,000 metric tons every six months since the sixth year of production. According with 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. 555000 1012000 1179000 0.08 0.10 10161000 1829000 11687000 1708000 7681000 2298000 <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left; padding-bottom: 1.5pt">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="3" style="border-bottom: Black 1.5pt solid; vertical-align: bottom; font-weight: bold; text-align: center">Years open to review by Tax Authority</td> <td style="vertical-align: bottom; font-weight: bold; text-align: center">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; padding-left: 0.125in; text-indent: -0.125in; width: 67%; font-weight: bold; text-align: left">Entity</td><td style="padding-bottom: 1.5pt; width: 1%; font-weight: bold">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; width: 15%; font-weight: bold; text-align: center">Income tax</td><td style="padding-bottom: 1.5pt; width: 1%; font-weight: bold">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; width: 15%; font-weight: bold; text-align: center">Value-added tax</td> <td style="padding-bottom: 1.5pt; width: 1%">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Cementos Pacasmayo S.A.A.</td><td>&#xa0;</td> <td style="text-align: center">2016-2020</td><td style="text-align: center">&#xa0;</td> <td style="text-align: center">Dec. 2016-2020</td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Cementos Selva S.A.</td><td>&#xa0;</td> <td style="text-align: center">2016-2020</td><td style="text-align: center">&#xa0;</td> <td style="text-align: center">Dec. 2016-2020</td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Distribuidora Norte Pacasmayo S.R.L.</td><td>&#xa0;</td> <td style="text-align: center">2016-2020</td><td style="text-align: center">&#xa0;</td> <td style="text-align: center">Dec. 2016-2020</td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Empresa de Transmisi&#xf3;n Guadalupe S.A.C.</td><td>&#xa0;</td> <td style="text-align: center">2016-2020</td><td style="text-align: center">&#xa0;</td> <td style="text-align: center">Dec. 2016-2020</td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Salmueras Sudamericanas S.A.</td><td>&#xa0;</td> <td style="text-align: center">2016-2020</td><td style="text-align: center">&#xa0;</td> <td style="text-align: center">Dec. 2016-2020</td> <td>&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Calizas del Norte S.A.C. 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"> <td style="text-align: left; padding-bottom: 4pt">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="vertical-align: top; padding-bottom: 2pt; text-align: left">&#xa0;</td><td style="padding-bottom: 2pt; text-align: left">&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="text-align: right">&#xa0;</td><td style="padding-bottom: 2pt; text-align: left">&#xa0;</td> <td style="text-align: left; padding-bottom: 4pt">&#xa0;</td> <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">552</td><td style="padding-bottom: 2pt; 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">433</td><td style="padding-bottom: 2pt; 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font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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&#x2019;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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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&#x2019;s policies and risk objectives.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> Management reviews and agrees policies for managing each of these risks, which are summarized below.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Market risk -</b></font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The sensitivity analyses shown in the following sections relate to the Group&#x2019;s consolidated position as of December 31, 2020 and 2019. 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, 2020 and 2019.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following assumptions have been made in calculating the sensitivity analyses:</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="text-align: justify; width: 0.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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, 2020 and 2019, including the effect of hedge accounting.</font></td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Interest rate risk - </b></font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2020 and 2019, all of the Group&#x2019;s borrowings are at a fixed rate of interest; consequently, the management evaluated that is not relevant to do an interest rate sensitivity analysis.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Foreign currency risk -</b></font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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).</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Group hedges its exposure to fluctuations on the translation into soles of its Senior Notes which are denominated in US dollars, by using cross currency swaps contracts. See note 31(a).</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Foreign currency sensitivity</i></font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table demonstrates the sensitivity to a reasonably possible change in the US dollar exchange rate, with all other variables held constant. 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vertical-align: top; text-align: left"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">U.S. Dollar</font></td><td>&#xa0;</td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">%</font></td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">S/(000)</font></td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 77%; font-weight: bold; text-align: right">&#xa0;</td><td style="width: 1%; font-weight: normal">&#xa0;</td> <td style="width: 9%; font-weight: normal; text-align: center"><font style="font-family: Times New Roman, Times, Serif; 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">2,403</td><td style="width: 1%; font-weight: normal; 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: normal">&#xa0;</td> <td style="font-weight: normal; text-align: center"><font style="font-family: Times New Roman, Times, Serif; 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">4,806</td><td style="font-weight: 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: right">&#xa0;</td><td style="font-weight: normal">&#xa0;</td> <td style="font-weight: normal; text-align: center">-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">(2,403</td><td style="font-weight: normal; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: normal">&#xa0;</td> <td style="font-weight: normal; text-align: center">-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">(4,806</td><td style="font-weight: normal; 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: bottom"> <td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; font-weight: bold; text-align: left">2019</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">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="padding-left: 0.125in; text-indent: -0.125in; vertical-align: top; text-align: left"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">U.S. Dollar</font></td><td>&#xa0;</td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">%</font></td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">S/(000)</font></td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 77%; font-weight: bold; text-align: right">&#xa0;</td><td style="width: 1%; font-weight: normal">&#xa0;</td> <td style="width: 9%; font-weight: normal; text-align: center"><font style="font-family: Times New Roman, Times, Serif; 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="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: normal">&#xa0;</td> <td style="font-weight: normal; text-align: center"><font style="font-family: Times New Roman, Times, Serif; 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-align: right">&#xa0;</td><td style="font-weight: normal">&#xa0;</td> <td style="font-weight: normal; text-align: center">-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-align: right">&#xa0;</td><td style="font-weight: normal">&#xa0;</td> <td style="font-weight: normal; text-align: center">-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/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Equity price risk -</b></font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 31.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Credit risk -</b></font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Trade receivables</i></font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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, 2020 and 2019, the Group had 6 customers, that owed the Group more than S/3,000,000 each accounting for approximately 47% and 43% for all accounts receivable outstanding, respectively. There were 16 and 22 customers with balances greater than S/700,000 and less than S/300,000, which accounted for approximately 30% and 31% of the total amount of accounts receivable outstanding, 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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Financial instruments and cash deposits</i></font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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, 2020 and 2019, the Group&#x2019;s maximum exposure to credit risk for the components of carrying amounts as showed in note 6. The Group&#x2019;s maximum exposure relating to financial derivative instruments is noted in the liquidity table therefore.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Liquidity risk -</b></font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Group monitors its risk of shortage of funds using a recurring liquidity planning tool.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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. Access to sources of funding is sufficiently available and debt maturing within 12 months can be rolled over under the same conditions with existing lenders, if this is necessary.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2020 and 2019 no portion of Senior Notes will mature in less than one year.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The table below summarizes the maturity profile of the Group&#x2019;s financial liabilities based on contractual undiscounted payments:</font></p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold">&#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="font-weight: bold">&#xa0;</td><td style="font-weight: bold">&#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="font-weight: bold">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">1 to 5<br/> years</td><td style="font-weight: bold">&#xa0;</td><td style="font-weight: bold">&#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="font-weight: bold">&#xa0;</td><td style="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="font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in; 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="padding-left: 0.125in; text-indent: -0.125in; vertical-align: bottom; font-weight: bold; text-align: left">As of December 31, 2020</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="padding-left: 0.125in; text-indent: -0.125in; width: 40%; text-align: left">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">65,232</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">572,993</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">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">1,208,225</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Lease liabilities</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">383</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,148</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">5,102</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Interests</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">30,033</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">35,056</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">186,607</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">193,454</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">445,150</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Hedge finance cost payable</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">8,032</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">8,032</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">24,096</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">40,160</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Trade and other payables</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">142,253</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">38,235</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">180,488</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left">As of December 31, 2019</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in; text-align: left">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">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">400,671</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">570,000</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,069,445</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Lease liabilities</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</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</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Interests</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="padding-left: 0.125in; text-indent: -0.125in; text-align: left">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="padding-left: 0.125in; text-indent: -0.125in; text-align: left">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> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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:</font></p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold">&#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="font-weight: bold">&#xa0;</td><td style="font-weight: bold">&#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="font-weight: bold">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">1 to 5<br/> years</td><td style="font-weight: bold">&#xa0;</td><td style="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="font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in; 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="padding-left: 0.125in; text-indent: -0.125in; vertical-align: bottom; font-weight: bold; text-align: left">As of December 31, 2020</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="padding-left: 0.125in; text-indent: -0.125in; width: 52%; text-align: left">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">75,936</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">75,936</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.5pt; text-align: left">Outflows</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,750</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">(8,112</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">(24,551</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">(34,413</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-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.5pt; text-align: left">Net</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,750</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; padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(8,112</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; padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">51,385</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; padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">41,523</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in; text-align: left">Discounted at the applicable interbank rates</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">(1,743</td><td style="padding-bottom: 2pt; text-align: left">)</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">(7,929</td><td style="padding-bottom: 2pt; text-align: left">)</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">51,919</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">42,247</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left">As of December 31, 2019</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in; text-align: left">Inflows</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">44,527</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">44,527</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.5pt; text-align: left">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">(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">(45,205</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.5pt; text-align: left">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">(1,601</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">(678</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-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 4pt">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">(1,595</td><td style="padding-bottom: 2pt; 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: 2pt; 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: 2pt; 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: 2pt; text-align: left">)</td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Changes in liabilities arising from financing activities:</font></p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="vertical-align: bottom; padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: center">&#xa0;</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom">&#xa0;</td> <td colspan="2" style="vertical-align: bottom; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Balance<br/> as of<br/> January&#xa0;1,</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom">&#xa0;</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom">&#xa0;</td> <td colspan="2" style="vertical-align: bottom; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Distribution of dividends</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom">&#xa0;</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom">&#xa0;</td> <td colspan="2" style="vertical-align: bottom; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Finance cost on cross currency swaps</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom">&#xa0;</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom">&#xa0;</td> <td colspan="2" style="vertical-align: bottom; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Cash <br/> inflow</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom">&#xa0;</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom">&#xa0;</td> <td colspan="2" style="vertical-align: bottom; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Cash <br/> outflow</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom">&#xa0;</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom">&#xa0;</td> <td colspan="2" style="vertical-align: bottom; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Movement of foreign currency</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom">&#xa0;</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom">&#xa0;</td> <td colspan="2" style="vertical-align: bottom; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Amortization of costs of issuance of senior notes</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom">&#xa0;</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom">&#xa0;</td> <td colspan="2" style="vertical-align: bottom; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Others</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom">&#xa0;</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom">&#xa0;</td> <td colspan="2" style="vertical-align: bottom; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Balance<br/> as of<br/> December&#xa0;31</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in; 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="padding-left: 0.125in; text-indent: -0.125in; vertical-align: bottom; font-weight: bold; text-align: left">2020</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; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; width: 19%; text-align: left">Hedge finance cost payable</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 6%; text-align: right">5,922</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">-</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">16,144</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">-</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">(15,685</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: 6%; 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: 6%; 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: 6%; 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: 6%; text-align: right">6,381</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Dividends payable</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">98,465</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">321</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(143,623</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">7,686</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; 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"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Hedge finance cost payable</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><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">14,824</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">(14,935</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">5,922</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">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">328</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(120,975</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; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">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> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Capital management -</b></font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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. The primary objective of the Group&#x2019;s capital management is to maximize the shareholders&#x2019; value.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In order to achieve this overall objective, the Group&#x2019;s capital management, among other things, aims to ensure that it meets financial covenants attached to the interest-bearing loans and borrowings that define capital structure requirements. Breaches in meeting the financial covenants would permit the creditors to immediately call senior notes. 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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="padding-left: 0.125in; text-indent: -0.125in; vertical-align: top; text-align: left"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">U.S. Dollar</font></td><td>&#xa0;</td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">%</font></td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">S/(000)</font></td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 77%; font-weight: bold; text-align: right">&#xa0;</td><td style="width: 1%; font-weight: normal">&#xa0;</td> <td style="width: 9%; font-weight: normal; text-align: center"><font style="font-family: Times New Roman, Times, Serif; 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">2,403</td><td style="width: 1%; font-weight: normal; 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: normal">&#xa0;</td> <td style="font-weight: normal; text-align: center"><font style="font-family: Times New Roman, Times, Serif; 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">4,806</td><td style="font-weight: 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: right">&#xa0;</td><td style="font-weight: normal">&#xa0;</td> <td style="font-weight: normal; text-align: center">-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">(2,403</td><td style="font-weight: normal; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: normal">&#xa0;</td> <td style="font-weight: normal; text-align: center">-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">(4,806</td><td style="font-weight: normal; 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: bottom"> <td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; font-weight: bold; text-align: left">2019</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">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="padding-left: 0.125in; text-indent: -0.125in; vertical-align: top; text-align: left"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">U.S. Dollar</font></td><td>&#xa0;</td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">%</font></td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">S/(000)</font></td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 77%; font-weight: bold; text-align: right">&#xa0;</td><td style="width: 1%; font-weight: normal">&#xa0;</td> <td style="width: 9%; font-weight: normal; text-align: center"><font style="font-family: Times New Roman, Times, Serif; 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="font-weight: bold; text-align: right">&#xa0;</td><td style="font-weight: normal">&#xa0;</td> <td style="font-weight: normal; text-align: center"><font style="font-family: Times New Roman, Times, Serif; 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-align: right">&#xa0;</td><td style="font-weight: normal">&#xa0;</td> <td style="font-weight: normal; text-align: center">-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-align: right">&#xa0;</td><td style="font-weight: normal">&#xa0;</td> <td style="font-weight: normal; text-align: center">-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> 0.05 2403000 0.10 4806000 -0.05 -2403000 -0.10 -4806000 0.05 -650000 0.10 -1299000 -0.05 650000 -0.10 1299000 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold">&#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="font-weight: bold">&#xa0;</td><td style="font-weight: bold">&#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="font-weight: bold">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">1 to 5<br/> years</td><td style="font-weight: bold">&#xa0;</td><td style="font-weight: bold">&#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="font-weight: bold">&#xa0;</td><td style="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="font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in; 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="padding-left: 0.125in; text-indent: -0.125in; vertical-align: bottom; font-weight: bold; text-align: left">As of December 31, 2020</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="padding-left: 0.125in; text-indent: -0.125in; width: 40%; text-align: left">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">65,232</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">572,993</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">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">1,208,225</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Lease liabilities</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">383</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,148</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">5,102</td><td style="text-align: left">&#xa0;</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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Interests</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">30,033</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">35,056</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">186,607</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">193,454</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">445,150</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Hedge finance cost payable</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">8,032</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">8,032</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">24,096</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">40,160</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Trade and other payables</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">142,253</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">38,235</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">180,488</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left">As of December 31, 2019</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in; text-align: left">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">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">400,671</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">570,000</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,069,445</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Lease liabilities</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</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</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Interests</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="padding-left: 0.125in; text-indent: -0.125in; text-align: left">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="padding-left: 0.125in; text-indent: -0.125in; text-align: left">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> </table> 65232000 572993000 570000000 1208225000 383000 1148000 5102000 6633000 30033000 35056000 186607000 193454000 445150000 8032000 8032000 24096000 40160000 142253000 38235000 180488000 98774000 400671000 570000000 1069445000 57000 57000 29124000 31265000 203525000 232057000 495971000 14703000 36757000 51460000 174888000 50364000 225252000 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold">&#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="font-weight: bold">&#xa0;</td><td style="font-weight: bold">&#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="font-weight: bold">&#xa0;</td><td style="font-weight: bold">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">1 to 5<br/> years</td><td style="font-weight: bold">&#xa0;</td><td style="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="font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in; 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="padding-left: 0.125in; text-indent: -0.125in; vertical-align: bottom; font-weight: bold; text-align: left">As of December 31, 2020</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="padding-left: 0.125in; text-indent: -0.125in; width: 52%; text-align: left">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">75,936</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">75,936</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.5pt; text-align: left">Outflows</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,750</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">(8,112</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">(24,551</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">(34,413</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-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.5pt; text-align: left">Net</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,750</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; padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(8,112</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; padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">51,385</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; padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">41,523</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in; text-align: left">Discounted at the applicable interbank rates</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">(1,743</td><td style="padding-bottom: 2pt; text-align: left">)</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">(7,929</td><td style="padding-bottom: 2pt; text-align: left">)</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">51,919</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">42,247</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left">As of December 31, 2019</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in; text-align: left">Inflows</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">44,527</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">44,527</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.5pt; text-align: left">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">(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">(45,205</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.5pt; text-align: left">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">(1,601</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">(678</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-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 4pt">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">(1,595</td><td style="padding-bottom: 2pt; 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: 2pt; 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: 2pt; 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: 2pt; text-align: left">)</td></tr> </table> 75936000 75936000 -1750000 -8112000 -24551000 -34413000 -1750000 -8112000 51385000 41523000 -1743000 -7929000 51919000 42247000 44527000 44527000 -1601000 -7394000 -36210000 -45205000 -1601000 -7394000 8317000 -678000 -1595000 -7280000 7573000 -1302000 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="vertical-align: bottom; padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: center">&#xa0;</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom">&#xa0;</td> <td colspan="2" style="vertical-align: bottom; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Balance<br/> as of<br/> January&#xa0;1,</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom">&#xa0;</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom">&#xa0;</td> <td colspan="2" style="vertical-align: bottom; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Distribution of dividends</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom">&#xa0;</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom">&#xa0;</td> <td colspan="2" style="vertical-align: bottom; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Finance cost on cross currency swaps</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom">&#xa0;</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom">&#xa0;</td> <td colspan="2" style="vertical-align: bottom; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Cash <br/> inflow</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom">&#xa0;</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom">&#xa0;</td> <td colspan="2" style="vertical-align: bottom; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Cash <br/> outflow</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom">&#xa0;</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom">&#xa0;</td> <td colspan="2" style="vertical-align: bottom; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Movement of foreign currency</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom">&#xa0;</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom">&#xa0;</td> <td colspan="2" style="vertical-align: bottom; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Amortization of costs of issuance of senior notes</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom">&#xa0;</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom">&#xa0;</td> <td colspan="2" style="vertical-align: bottom; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Others</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom">&#xa0;</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom">&#xa0;</td> <td colspan="2" style="vertical-align: bottom; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Balance<br/> as of<br/> December&#xa0;31</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in; 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="padding-left: 0.125in; text-indent: -0.125in; vertical-align: bottom; font-weight: bold; text-align: left">2020</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; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; width: 19%; text-align: left">Hedge finance cost payable</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 6%; text-align: right">5,922</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">-</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">16,144</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">-</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">(15,685</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: 6%; 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: 6%; 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: 6%; 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: 6%; text-align: right">6,381</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Dividends payable</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">98,465</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">321</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(143,623</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">7,686</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Interest-bearing loans</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><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">862,191</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(745,384</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">6,812</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">817</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">1,226,340</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left">2019</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in; text-align: left">Hedge finance cost payable</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><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">14,824</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">(14,935</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">5,922</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">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">328</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(120,975</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; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">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> </table> 5922000 16144000 -15685000 6381000 52523000 98465000 321000 -143623000 7686000 1101904000 862191000 -745384000 6812000 817000 1226340000 6033000 14824000 -14935000 19331000 154119000 328000 -120975000 -280000 1083377000 638281000 -610999000 -9562000 807000 <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="text-align: justify; width: 0"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">31.</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fair value financial assets and liabilities</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial assets -</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial liabilities -</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</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="text-align: justify; width: 0.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Derivative financial instruments -</font></td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Derivates asset of hedging -</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Foreign currency risk -</i></font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0in">As of December 31, 2020 and 2019, the Company maintains cross currency swaps agreements for a notional amount of US$150,000,000, with maturity in 2023 and an average rate of 2.97%. Of this total, US$131,612,000 have been designated as hedging instruments for Senior notes that are 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; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The cash flow hedge of the expected future payments was assessed to be highly effective and an unrealized loss of S/1,652,000 for the year 2020 (unrealized loss of S/2,556,000 as of December 31, 2019). The amounts retained in other comprehensive income as of December 31, 2020 are expected to mature and affect the consolidated statement of profit or loss in 2023.</font></p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Assets (liabilities) from trading -</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0in">Cross currency swaps that do not have an underlying relationship amounts to US$18,388,000 and have been designated as trading. The effect on profit or loss of the change on their fair value amounts was a gain of S/5,337,000 as of December 31, 2020 (loss of S/1,491,000 as of December 31, 2019). In addition, the derivative trading instrument acquired by the Company in December 2019 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; caption in the consolidated statement of profit or loss for a value of S/1,458,000.</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="text-align: justify; width: 0.5in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fair values and fair value accounting hierarchy -</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Set out below is a comparison of the carrying amounts and fair values of financial instruments as of December 31, 2020 and 2019, as well as the fair value accounting hierarchy. The dates of valuations at fair value were as of December 31, 2020 and 2019, respectively.</font></p><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">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="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">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 colspan="2" style="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="padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in; 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">2020</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">2020</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">2020/2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in; 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">&#xa0;</td><td>&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in; 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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">308,912</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: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 1</font></td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Trade and other receivables</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">89,627</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">89,627</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: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 2 </font></td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Derivatives financial assets &#x2013; Cross currency swaps</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">42,247</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">42,247</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: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 2</font></td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.5pt; text-align: left">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">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">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">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">18,224</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: left">&#xa0;</td><td style="padding-bottom: 1.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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="padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#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: right">211,701</td><td style="padding-bottom: 2pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="padding-bottom: 2pt; text-align: left">&#xa0;</td><td style="padding-bottom: 2pt; text-align: center">&#xa0;</td><td style="padding-bottom: 2pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: center">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left">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: left">&#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="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Trade and other payables</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">187,876</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">235,384</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">187,876</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">235,384</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 2 </font></td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">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">-</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: 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: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 2</font></td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Senior notes</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,044,352</td><td style="text-align: left">&#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">1,118,492</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: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 1</font></td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt">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">224,232</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">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">221,607</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="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 2</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="padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: center">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left; padding-bottom: 4pt">Total financial liabilities</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">1,456,460</td><td style="padding-bottom: 2pt; 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">1,338,590</td><td style="padding-bottom: 2pt; 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">1,527,975</td><td style="padding-bottom: 2pt; 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">1,384,503</td><td style="padding-bottom: 2pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="padding-bottom: 2pt; text-align: left">&#xa0;</td><td style="padding-bottom: 2pt; text-align: center">&#xa0;</td><td style="padding-bottom: 2pt; text-align: left">&#xa0;</td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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. The fair value hierarchies are those described in note 2.3.2 (vi).</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For assets and liabilities that are recognized at fair value on a recurring basis, the Group determines whether transfers have occurred between levels in the hierarchy. As of December 31, 2020 and 2019, there were no transfers between the fair value hierarchies.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</font></p><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following methods and assumptions were used to estimate the fair values:</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="text-align: justify; width: 1in"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The fair value of cross currency swaps is measured by using valuation techniques where inputs are based on market data and present value calculations. The models incorporate various inputs, including the credit quality of counterparties, foreign exchange, forward rates and interest rate curves.</font></td></tr></table><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A credit valuation adjustment (CVA) is applied to the &#x201c;Over-The-Counter&#x201d; derivative exposures to consider the counterparty&#x2019;s risk of default when measuring the fair value of the derivative. CVA is the mark-to market cost of protection required to hedge credit risk from counterparties in this type of derivatives portfolio. 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The quantitative information about the significant unobservable inputs used in level 3 fair value measurements as of December 31, 2020 and 2019 are described as follows:</font></td></tr></table><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; font-weight: bold; text-align: left">As of December 31, 2020</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td style="vertical-align: top; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Weighted average</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">Fair value sensitivity</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; width: 43%; text-align: left">Earning growth factor</td><td style="width: 2%">&#xa0;</td> <td style="vertical-align: top; width: 9%; text-align: center">3.79%</td><td style="width: 2%">&#xa0;</td> <td style="width: 44%; text-align: center">5% increase or decrease in the factor would result in an increase (decrease) in fair value of S/131,580,000 and (S/456,870,000), respectively.</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left">WACC discount rate</td><td>&#xa0;</td> <td style="vertical-align: top; text-align: center">8.53%</td><td>&#xa0;</td> <td style="text-align: center">10% increase or decrease in the discount rate would result in an increase (decrease) in fair value at (S/390,352,000) and S/169,179,000, respectively.</td></tr> </table><br/><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; 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"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left">WACC discount rate</td><td>&#xa0;</td> <td style="vertical-align: top; text-align: center">8.9%</td><td>&#xa0;</td> <td style="text-align: center">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.</td></tr> </table><br/> 150000000 0.0297 131612000 1652000 2556000 18388000 5337000 1491000 70000000 1458000 150000000 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: center">&#xa0;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Carrying amount</td><td style="padding-bottom: 1.5pt; 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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">308,912</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: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 1</font></td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Trade and other receivables</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">89,627</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">89,627</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: center"><font style="font-family: Times New Roman, Times, Serif; 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"> <td style="padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.5pt; text-align: left">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">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">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">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">18,224</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: left">&#xa0;</td><td style="padding-bottom: 1.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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="padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: center">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left; padding-bottom: 4pt">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">441,478</td><td style="padding-bottom: 2pt; 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: 2pt; 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">441,478</td><td style="padding-bottom: 2pt; 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: 2pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="padding-bottom: 2pt; text-align: left">&#xa0;</td><td style="padding-bottom: 2pt; text-align: center">&#xa0;</td><td style="padding-bottom: 2pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: center">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left">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: left">&#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="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Trade and other payables</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">187,876</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">235,384</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">187,876</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">235,384</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 2 </font></td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">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">-</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: 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: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 2</font></td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; 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text-align: left; padding-bottom: 1.5pt">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">224,232</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">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">221,607</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="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 2</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="padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: center">&#xa0;</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left; padding-bottom: 4pt">Total financial liabilities</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#xa0;</td><td style="border-bottom: Black 4pt double; text-align: right">1,456,460</td><td style="padding-bottom: 2pt; 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">1,338,590</td><td style="padding-bottom: 2pt; 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">1,527,975</td><td style="padding-bottom: 2pt; 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">1,384,503</td><td style="padding-bottom: 2pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="padding-bottom: 2pt; text-align: left">&#xa0;</td><td style="padding-bottom: 2pt; text-align: center">&#xa0;</td><td style="padding-bottom: 2pt; text-align: left">&#xa0;</td></tr> </table> 308912000 68266000 308912000 68266000 89627000 125211000 89627000 125211000 42247000 42247000 692000 18224000 692000 18224000 441478000 211701000 441478000 211701000 187876000 235384000 187876000 235384000 1302000 1302000 1044352000 1003130000 1118492000 1048484000 224232000 98774000 221607000 99333000 1456460000 1338590000 1527975000 1384503000 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; font-weight: bold; text-align: left">As of December 31, 2020</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td style="vertical-align: top; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Weighted average</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">Fair value sensitivity</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; width: 43%; text-align: left">Earning growth factor</td><td style="width: 2%">&#xa0;</td> <td style="vertical-align: top; width: 9%; text-align: center">3.79%</td><td style="width: 2%">&#xa0;</td> <td style="width: 44%; text-align: center">5% increase or decrease in the factor would result in an increase (decrease) in fair value of S/131,580,000 and (S/456,870,000), respectively.</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left">WACC discount rate</td><td>&#xa0;</td> <td style="vertical-align: top; text-align: center">8.53%</td><td>&#xa0;</td> <td style="text-align: center">10% increase or decrease in the discount rate would result in an increase (decrease) in fair value at (S/390,352,000) and S/169,179,000, respectively.</td></tr> </table><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; font-weight: bold; text-align: left">As of December 31, 2019</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#xa0;</td> <td style="vertical-align: top; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Weighted average</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">Fair value sensitivity</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; width: 43%; text-align: left">Earning growth factor</td><td style="width: 2%">&#xa0;</td> <td style="vertical-align: top; width: 9%; text-align: center">4%</td><td style="width: 2%">&#xa0;</td> <td style="width: 44%; text-align: center">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.</td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left">WACC discount rate</td><td>&#xa0;</td> <td style="vertical-align: top; text-align: center">8.9%</td><td>&#xa0;</td> <td style="text-align: center">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.</td></tr> </table> 0.0379 5% increase or decrease in the factor would result in an increase (decrease) in fair value of S/131,580,000 and (S/456,870,000), respectively. 0.0853 10% increase or decrease in the discount rate would result in an increase (decrease) in fair value at (S/390,352,000) and S/169,179,000, respectively. 0.04 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. 0.089 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. <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="text-align: justify; width: 0"></td><td style="text-align: justify; width: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">32.</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Segment information</font></td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For management purposes, the Group is organized into business units based on their products and activities and have three reportable segments as follows:</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="text-align: justify; width: 0.5in"></td><td style="text-align: justify; 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"> <td style="padding-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left; padding-bottom: 4pt">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: 2pt; 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: 2pt; 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: 2pt; 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: 2pt; 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: 2pt; 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: 2pt; 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: 2pt; text-align: left">)</td></tr> </table><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"><tr style="vertical-align: top"> <td style="padding-right: 0; width: 0in"></td><td style="padding-right: 0; width: 0.3in"><font style="font-size: 10pt">(*)</font></td><td style="text-align: justify; padding-right: 0"><font style="font-size: 10pt">As of December 31, 2020, corresponds to the financial investment designated at fair value through OCI of S/692,000 and fair value of </font>derivative financial instruments <font style="font-size: 10pt">(&#x201c;cross currency swap&#x201d;) of S/42,427,000. As of December 31, 2019 corresponds to the financial investment designated at fair value through OCI for approximately S/18,224,000. 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; margin-top: 0in; margin-bottom: 0in; width: 100%"><tr style="vertical-align: top"> <td style="padding-right: 0; text-align: justify; width: 0in"></td><td style="padding-right: 0; text-align: justify; width: 0.3in">(**)</td><td style="text-align: justify; padding-right: 0">Capital expenditure consists of S/55,142,000 and S/87,086,000 during the years ended December 31, 2020 and 2019, respectively, and are related to additions of property, plant and equipment, intangible and other minor non-current assets.</td></tr></table><br/><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; 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text-align: left">&#xa0;</td><td style="width: 7%; text-align: right">(3,635</td><td style="width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Construction supplies</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">51,225</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">51,225</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">58,517</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">)</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="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Quicklime</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">83,621</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">83,621</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">(5,741</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-left: 0.125in; text-indent: -0.125in; text-align: left; 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">31,696</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">5,871</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">37,567</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">107</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">(782</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 style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left; padding-bottom: 4pt">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">2,973,345</td><td style="padding-bottom: 2pt; 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">42,939</td><td style="padding-bottom: 2pt; 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">3,016,284</td><td style="padding-bottom: 2pt; 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">1,648,729</td><td style="padding-bottom: 2pt; 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">55,142</td><td style="padding-bottom: 2pt; 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">(139,167</td><td style="padding-bottom: 2pt; 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">(3,635</td><td style="padding-bottom: 2pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <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><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left">2019</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in; text-align: left">Cement, concrete and blocks</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">2,714,888</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">2,714,888</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">1,409,596</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">87,086</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(122,911</td><td style="text-align: left">)</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">(2,498</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">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="padding-left: 0.125in; text-indent: -0.125in; text-align: left">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-left: 0.125in; text-indent: -0.125in; text-align: left; 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">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 style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">&#xa0;</td><td style="text-align: left">&#xa0;</td><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-left: 0.125in; text-indent: -0.125in; font-weight: bold; text-align: left; padding-bottom: 4pt">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: 2pt; 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: 2pt; 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: 2pt; 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: 2pt; 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: 2pt; 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: 2pt; 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: 2pt; text-align: left">)</td></tr> </table> 2806803000 37068000 2843871000 1590105000 55142000 131877000 3635000 51225000 51225000 58517000 767000 83621000 83621000 5741000 31696000 5871000 37567000 107000 782000 2973345000 42939000 3016284000 1648729000 55142000 139167000 3635000 2714888000 2714888000 1409596000 87086000 122911000 2498000 51376000 51376000 99934000 879000 93812000 93812000 5820000 53258000 18224000 71482000 377000 208000 2913334000 18224000 2931558000 1509907000 87086000 129818000 2498000