Pampa Energy Inc 6-K, filed May 22, 2020

Pampa Energy Inc. (PAM)

6-K 2020-05-22 For: 2020-03-31

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Added on April 05, 2026

About this 6-K

Pampa Energy Inc filed this 6-K on May 22, 2020.

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Pampa Energía S.A.


By:	/s/ Gustavo Mariani
	Name: Gustavo Mariani Title: Chief Executive Officer

Terms		Definitions
ADR		American Depositary Receipt
CABA		Ciudad Autónoma de Buenos Aires
CAMMESA		Compañía Administradora del Mercado Eléctrico Mayorista S.A.
CB		Corporate Bonds
CIESA		Compañía de inversiones de energía S.A.
Citelec		Compañía Inversora en Transmisión Eléctrica Citelec S.A.
CNV		Comisión Nacional de Valores – Argentine Securities Commisssion
CPB		Central Piedra Buena S.A.
CPD		Own Distribution Costs
CTB		Central Térmica Barragán S.A. (Ex PEA)
CTEB		Central Térmica Ensenada de Barragán
Ecuador TLC		Ecuador TLC S.A.
Edenor		Empresa Distribuidora y Comercializadora Norte S.A.
ENARGAS		Ente Nacional Regulador del Gas
ENRE		National Regulatory Authority of Electricity
FACPCE		Federación Argentina de Consejos Profesionales de Ciencias Económicas
Greenwind		Greenwind S.A.
HIDISA		Hidroeléctrica Diamante S.A.
HINISA		Hidroeléctrica Los Nihuiles S.A.
IASB		International Accounting Standards Board
IGJ		Inspección General de Justicia - General Inspection of Justice
IPC		Índice de Precios al Consumidor
IPIM		Índice de Precios Internos al por Mayor
MATER		Mercado a Término de Energía Renovable
MEGSA		Mercado Electrónico de Gas S.A.
MEM		Wholesale Electricity Market
NIC		International Accounting Standards

Terms		Definitions
NIIF		International Financial Reporting Standards
NYSE		New York Stock Exchange
OED		Organismo Encargado del Despacho
OCP		Oleductos de Crudo Pesados S.A.
Oldelval		Oleoductos del Valle S.A.
PACOGEN		Pampa Cogeneración S.A.
PACOSA		Pampa Comercializadora S.A.
PBA		Buenos Aires province
PEB		Pampa Energía Bolivia S.A. (previously “PBI” Petrobras Bolivia Internacional S.A.)
PEPE II		Parque Eólico Pampa Energía II
PEPE III		Parque Eólico Pampa Energía III
PHA		Petrobras Hispano Argentina S.A.
PISA		Pampa Inversiones S.A.
PP		Pampa Participaciones S.A.
Refinor		Refinería del Norte S.A.
RTI		Tariff Structure Review
SACDE		Sociedad Argentina de Construcción y Desarrollo Estratégico
SACME		Centro de Movimiento de Energía S.A.
SADI		Argentine Interconnection System
SE		Secretary of Energy
SEC		Security and Exchange Comission
SEE		Secretary of Electrical Energy
SGE		Secretary of Energy Government
SRRyME		Electricity Market and Renewable Resources Secretariat
TGS		Transportadora de Gas del Sur S.A.
The Company / Pampa		Pampa Energía S.A.
The Group		Pampa Energía S.A. and its subsidiaries
Transba		Empresa de Transporte de Energía Eléctrica por Distribución Troncal de la Provincia de Buenos Aires Transba S.A.
Transelec		Transelec Argentina S.A.
Transener		Compañía de Transporte de Energía Eléctrica en Alta Tensión Transener S.A.

Terms		Definitions
TV		Turbina a vapor
US$		U.S. dollar
WACC		Weighted Average Cost of Capital
YPF		YPF S.A.

	Note	03.31.2020	03.31.2019

Revenue	8	38,415	29,393
Cost of sales	9	(27,556)	(21,269)
Gross profit		10,859	8,124

Selling expenses	10.1	(2,328)	(1,813)
Administrative expenses	10.2	(2,424)	(1,863)
Exploration expenses	10.3	(4)	(41)
Other operating income	10.4	604	484
Other operating expenses	10.4	(822)	(1,017)
Impairment of property, plant and equipment, intangible assets and inventories	6.1.1	(4,316)	-
Share of profit from associates and joint ventures	5.2.2	2,069	835
Operating income		3,638	4,709

Gain on monetary position, net		1,676	3,308
Finance income	10.5	1,007	1,298
Finance costs	10.5	(3,861)	(3,611)
Other financial results	10.5	(1,114)	(495)
Financial results, net		(2,292)	500
Profit before income tax		1,346	5,209
Income tax	10.6	(403)	1,427
Profit of the period		943	6,636

Other comprehensive income (loss)
Items that will not be reclassified to profit or loss
Exchange differences on translation		11,225	11,492
Items that may be reclassified to profit or loss
Exchange differences on translation		(6)	(1,128)
Other comprehensive income of the period		11,219	10,364
Total comprehensive income of the period		12,162	17,000

	Note	03.31.2020	12.31.2019
ASSETS
NON-CURRENT ASSETS
Property, plant and equipment	11.1	222,220	210,056
Intangible assets	11.2	9,250	9,068
Right-of-use assets		963	930
Deferred tax assets	11.3	3,512	1,702
Investments in joint ventures and associates	5.2.2	35,074	30,638
Financial assets at amortized cost	12.1	302	1,048
Financial assets at fair value through profit and loss	12.2	722	671
Other assets		48	45
Trade and other receivables	12.3	4,989	4,711
Total non-current assets		277,080	258,869

CURRENT ASSETS
Inventories	11.4	8,922	9,175
Financial assets at amortized cost	12.1	3,473	3,224
Financial assets at fair value through profit and loss	12.2	15,767	21,867
Derivative financial instruments		-	214
Trade and other receivables	12.3	37,959	33,583
Cash and cash equivalents	12.4	12,783	13,496
Total current assets		78,904	81,559
Total assets		355,984	340,428

	Attributable to owners
	Equity holders of the company						Retained earnings
	Share capital	Share capital adjustment	Share premium	Treasury shares	Treasury shares adjustment	Treasury shares cost	Legal reserve	Voluntary reserve	Other reserves ⁽¹⁾	Other comprehensive income / (loss)	Retained earnings (Accumulated losses)	Subtotal	Non-controlling interest	Total equity
Balance as of December 31, 2018	1,874	9,826	18,499	25	134	(1,490)	904	7,355	(483)	(314)	15,193	51,523	16,160	67,683
Stock compensation plans	-	-	-	-	-	18	-	-	-	-	-	18	-	18
Acquisition of own shares	-	-	-	-	-	-	-	-	(187)	-	-	(187)	(174)	(361)
Profit for the three-month period	-	-	-	-	-	-	-	-	-	-	6,531	6,531	105	6,636
Other comprehensive income for the three-month period	-	-	-	-	-	-	-	-	-	4,102	4,268	8,370	1,994	10,364
Balance as of March 31, 2019	1,874	9,826	18,499	25	134	(1,472)	904	7,355	(670)	3,788	25,992	66,255	18,085	84,340

Constitution of legal and voluntary reserve - Shareholders’ meeting 04.29.2019	-	-	-	-	-	-	849	16,134	-	-	(16,983)	-	-	-
Stock compensation plans	1	-	2	-	(2)	(4)	-	-	23	-	-	20	-	20
Distribution of dividends	-	-	-	-	-	-	-	-	-	-	-	-	(57)	(57)
Acquisition of own shares	(198)	-	1,069	198	-	(7,070)	-	-	-	-	-	(6,001)	(1,525)	(7,526)
Capital reduction	-	-	-	(152)	(105)	6,019	-	(5,762)	(124)	-	-	(124)	-	(124)
Profit for the complementary nine-month period	-	-	-	-	-	-	-	-	-	-	26,481	26,481	6,190	32,671
Other comprehensive income for the complementary nine-month period	-	-	-	-	-	-	-	-	-	11,880	16,354	28,234	6,704	34,938
Balance as of December 31, 2019	1,677	9,826	19,570	71	27	(2,527)	1,753	17,727	(771)	15,668	51,844	114,865	29,397	144,262

			03.31.2020	12.31.2019
Company	Country	Main activity	Direct and indirect participation %	Direct and indirect participation %
Corod	Venezuela	Oil	100.00%	100.00%
CPB ⁽¹⁾	Argentina	Generation	-	100.00%
CPB Energía S.A.	Argentina	Generation	100.00%	100.00%
EcuadorTLC	Ecuador	Oil	100.00%	100.00%
Edenor ⁽²⁾⁽³⁾	Argentina	Distribution of energy	57.10%	56.32%
Enecor S.A.	Argentina	Transportation of electricity	69.99%	69.99%
HIDISA	Argentina	Generation	61.00%	61.00%
HINISA	Argentina	Generation	52.04%	52.04%
PACOSA	Argentina	Trader	100.00%	100.00%
PEB	Bolivia	Investment	100.00%	100.00%
PACOGEN	Argentina	Investment	100.00%	100.00%
PE Energía Ecuador LTD	Gran Cayman	Investment	100.00%	100.00%
Energía Operaciones ENOPSA S.A.	Ecuador	Oil	100.00%	100.00%
Petrolera San Carlos S.A.	Venezuela	Oil	100.00%	100.00%
PHA	Argentina	Investment	100.00%	100.00%
PISA	Uruguay	Investment	100.00%	100.00%
PP	Argentina	Investment	100.00%	100.00%
TGU	Uruguay	Gas transportation	100.00%	100.00%
Transelec	Argentina	Investment	100.00%	100.00%
Trenerec Energía Bolivia S.A.	Bolivia	Investment	100.00%	100.00%
Trenerec S.A.	Ecuador	Investment	100.00%	100.00%

		Information about the issuer
	Main activity	Date	Share capital	Profit (loss) of the period / year	Equity	Direct and indirect participation %
Associates
Refinor	Refinery	12.31.2019	92	142	4,157	28.50%
OCP ⁽¹⁾	Investment	03.31.2020	6,476	635	15,064	15.91%
TGS ⁽²⁾⁽⁵⁾	Transport of gas	03.31.2020	785	3,401	53,640	2.093%

Joint ventures
CIESA ⁽²⁾	Investment	03.31.2020	639	2,085	27,397	50%
Citelec ⁽³⁾	Investment	03.31.2020	556	542	11,789	50%
Greenwind	Generation	03.31.2020	5	(14)	(688)	50%
CTB⁽⁴⁾	Generation	03.31.2020	8,558	1,192	15,866	50%

	03.31.2020	12.31.2019
Disclosed in non-current assets
Associates
Refinor	1,469	1,188
OCP	1,792	1,974
TGS	1,647	1,293
Other	12	12
	4,920	4,467
Joint ventures
CIESA	16,327	14,088
Citelec	5,895	5,274
CTB	7,932	6,809

	30,154	26,171
	35,074	30,638
Disclosed in non-current liabilities
Greenwind ⁽¹⁾	291	265
	291	265

	in millions of u$s							in million of pesos
Consolidated profit and loss information for the period of three month ended March 31, 2020	Generation	Distribution of energy	Oil and gas	Petrochemicals	Holding and others	Eliminations	Consolidated	Consolidated
Revenue	134	319	75	73	6	-	607	38,415
Intersegment revenue	-	-	10	-	-	(10)	-	-
Cost of sales	(55)	(255)	(65)	(71)	-	10	(436)	(27,556)
Gross profit	79	64	20	2	6	-	171	10,859

Selling expenses	(1)	(26)	(7)	(2)	-	-	(36)	(2,328)
Administrative expenses	(9)	(13)	(11)	(1)	(5)	-	(39)	(2,424)
Exploration expenses	-	-	-	-	-	-	-	(4)
Other operating income	1	4	2	-	2	-	9	604
Other operating expenses	(2)	(5)	(2)	(1)	(4)	-	(14)	(822)
Impairment of property, plant and equipment, intangible assets and inventories	(56)	-	-	(11)	-	-	(67)	(4,316)
Share of profit from associates and joint ventures	10	-	2	-	20	-	32	2,069
Operating income	22	24	4	(13)	19	-	56	3,638

Gain on net monetary position, net	-	26	-	-	-	-	26	1,676
Finance income	8	5	2	-	1	-	16	1,007
Finance costs	(15)	(19)	(27)	(1)	-	-	(62)	(3,861)
Other financial results	(1)	(11)	2	1	(6)	-	(15)	(1,114)
Financial results, net	(8)	1	(23)	-	(5)	-	(35)	(2,292)
Profit before income tax	14	25	(19)	(13)	14	-	21	1,346

Income tax	(1)	(13)	6	4	(1)	-	(5)	(403)
Profit for the period	13	12	(13)	(9)	13	-	16	943

Depreciation and amortization	23	20	27	-	-	-	70	4,498

	03.31.2020	03.31.2019

Energy sales to the Spot Market	3,649	2,638
Energy sales by supply contracts	4,239	2,716
Fuel self-supply	443	2,842
Other sales	31	25
Generation sales subtotal	8,362	8,221

Energy sales	20,440	15,923
Right of use of poles	75	49
Connection and reconnection charges	16	15
Distribution of energy sales subtotal	20,531	15,987

Oil, gas and liquid sales	4,483	1,855
Other sales	175	42
Oil and gas sales subtotal	4,658	1,897

Technical assistance services and administartion sales	376	259
Other	3	2
Holding and others subtotal	379	261

Petrochemicals sales	4,485	3,027
Petrochemicals sales subtotal	4,485	3,027
Total revenue	38,415	29,393

	03.31.2020	03.31.2019
Inventories at the beginning of the year	9,175	5,169

Plus: Charges for the period
Purchases of inventories, energy and gas	15,892	15,295
Salaries and social security charges	2,342	1,797
Benefits to employees	147	90
Accrual of defined benefit plans	154	35
Works contracts, fees and compensation for services	1,720	1,121
Depreciation of property, plant and equipment	3,933	2,125
Intangible assets amortization	111	71
Right-of-use assets amortization	30	-
Transport of energy	73	33
Transportation and freights	285	116
Consumption of materials	608	343
Penalties ⁽¹⁾	(210)	429
Maintenance	284	221
Canons and royalties	736	657
Environmental control	112	13
Rental and insurance	301	227
Surveillance and security	93	88
Taxes, rates and contributions	75	43
Other	32	(77)
Subtotal	26,718	22,627

Exchange differences on translation	585	22

Less: Inventories at the end of the period	(8,922)	(6,549)
Total cost of sales	27,556	21,269

	03.31.2020	03.31.2019
Geological and geophysical expenses	4	41
Total exploration expenses	4	41

	03.31.2020	03.31.2019
Current tax	2,472	496
Deferred tax	(1,918)	(3,361)
Difference in the estimate of previous fiscal year income tax and the income tax statement	(151)	27
Optional tax revaluation	-	1,411
Total loss (gain) income tax	403	(1,427)

	Note	03.31.2020	03.31.2019
Cash flows from operating activities:
Profit of the period		943	6,636
Adjustments to reconcile net profit to cash flows generated by operating activities:	14.1	10,992	429
Changes in operating assets and liabilities	14.2	(1,582)	(358)
Net cash generated by operating activities		10,353	6,707
Cash flows from investing activities:
Payment for property, plant and equipment		(4,486)	(5,769)
(Payment) collection for financial assets		(4,478)	1,652
Payments for capital integration in associates and joint ventures		(190)	-
Collections for sales of shares in companies and property, plant and equipment		40	-
Dividends received		119	805
Colletion (proceeds) from loans		158	(31)
Recovery (suscription) of investment funds, net		11,676	(1,370)
Net cash generated by (used in) investing activities		2,839	(4,713)

Cash flows from financing activities:
Proceeds from borrowings		200	1,018
Payment of borrowings		(4,214)	(6,024)
Payment of borrowings interests		(4,123)	(2,061)
Payment for acquisition of own shares		(2,634)	(362)
Repurchase and redemption of corporate bonds		(2,567)	(97)
Payments of leases		(80)	(67)
Used in generated by financing activities		(13,418)	(7,593)

Decrease in cash and cash equivalents		(226)	(5,599)

Cash and cash equivalents at the begining of the year	12.4	13,496	9,097
Exchange difference generated by cash and cash equivalents		(487)	783
Decrease in cash and cash equivalents		(226)	(5,599)
Cash and cash equivalents at the end of the period	12.4	12,783	4,281

Other operating income	03.31.2020	03.31.2019
Recovery of doubtful accounts	-	27
Insurrance recovery	31	32
Commissions on municipal tax collections	38	21
Services to third parties	213	202
Profit for property, plant and equipment sale	-	53
Reversal of contingencies and taxes payables	248	10
Other	74	139
Total other operating income	604	484

Other operating expenses
Provision for contingencies	(189)	(332)
Decrease in property, plant and equipment	(102)	(14)
Allowance for tax credits	(60)	(32)
Tax on bank transactions	(353)	(307)
Cost for services provided to third parties	(12)	(13)
Donations and contributions	(20)	(9)
Institutional promotion	(28)	(15)
Other	(58)	(295)
Total other operating expenses	(822)	(1,017)

	Original values
Type of good	At the beginning	Increases	Impairment	Transfers	Decreases	Traslation effect	At the end


Land	809	-	-	-	-	62	871
Buildings	12,088	3	(396)	164	-	920	12,779
Equipment and machinery	75,055	1	(5,154)	1,468	(193)	5,780	76,957
High, medium and low voltage lines	62,736	2	-	1,133	(42)	4,697	68,526
Substations	22,036	4	-	650	-	1,650	24,340
Transforming chamber and platforms	13,155	37	-	483	(49)	985	14,611
Meters	13,574	2	-	631	-	1,016	15,223
Wells	40,273	27	-	1,758	-	3,161	45,219
Mining property	15,136	-	-	-	-	1,158	16,294
Vehicles	1,282	1	-	-	-	97	1,380
Furniture and fixtures and software equipment	4,461	23	-	88	-	341	4,913
Communication equipments	873	-	-	181	-	66	1,120
Materials and spare parts	2,200	236	-	(307)	-	147	2,276
Petrochemical industrial complex	817	-	-	36	-	63	916
Work in progress	47,395	3,409	-	(6,236)	(17)	3,623	48,174
Advances to suppliers	1,084	139	-	(49)	-	89	1,263
Other goods	363	-	-	-	-	28	391
Total at 03.31.2020	313,337	3,884	(5,550)	-	(301)	23,883	335,253
Total at 03.31.2019	183,517	5,974	-	-	(984)	25,131	213,638

	Depreciation
	Depreciation						Net book values
Type of good	At the beginning	Decreases	Impairment	For the period	Traslation effect	At the end	At the end	At 12.31.2019


Land	-	-	-	-	-	-	871	809
Buildings	(4,534)	-	112	(104)	(350)	(4,876)	7,903	7,554
Equipment and machinery	(24,561)	152	2,214	(1,426)	(1,945)	(25,566)	51,391	50,494
High, medium and low voltage lines	(20,632)	35	-	(600)	(1,545)	(22,742)	45,784	42,104
Substations	(6,862)	-	-	(207)	(514)	(7,583)	16,757	15,174
Transforming chamber and platforms	(3,753)	12	-	(128)	(281)	(4,150)	10,461	9,402
Meters	(5,204)	-	-	(172)	(390)	(5,766)	9,457	8,370
Wells	(23,100)	-	-	(1,151)	(1,823)	(26,074)	19,145	17,173
Mining property	(8,619)	-	-	(263)	(672)	(9,554)	6,740	6,517
Vehicles	(1,184)	-	-	(68)	(89)	(1,341)	39	98
Furniture and fixtures and software equipment	(3,419)	-	-	(146)	(263)	(3,828)	1,085	1,042
Communication equipments	(611)	-	-	(9)	(46)	(666)	454	262
Materials and spare parts	(134)	-	-	(9)	(10)	(153)	2,123	2,066
Petrochemical industrial complex	(441)	-	-	(10)	(34)	(485)	431	376
Work in progress	-	-	-	-	-	-	48,174	47,395
Advances to suppliers	-	-	-	-	-	-	1,263	1,084
Other goods	(227)	-	-	(4)	(18)	(249)	142	136
Total at 03.31.2020	(103,281)	199	2,326	(4,297)	(7,980)	(113,033)	222,220
Total at 03.31.2019	(58,512)	166	-	(2,368)	(8,199)	(68,913)		144,725
Total at 12.31.2019								210,056

	03.31.2020	03.31.2019
Profit before income tax	1,346	5,209
Current tax rate	30%	30%
Result at the tax rate	404	1,563
Share of profit of associates and joint ventures	(624)	(250)
Non-taxable results	(423)	(248)
Effects of exchange differences and traslation effect of property, plant and equipment and intangible assets, net	1,241	(1,032)
Adjustment of valuation of property, plant and equipment and intangible assets	(2,297)	-
(Loss) gain on monetary position, net	(29)	927
Effect of tax rate change in deferred tax	429	1,358
Adjustment effect for tax inflation	1,974	1,671
Payment of optional tax revaluation	-	1,411
Special tax, revaluation of property, plant and equipment	-	(7,381)
Difference in the estimate of previous fiscal year income tax and the income tax statement	(263)	629
Other	(9)	(75)
Total loss (gain) income tax	403	(1,427)

	03.31.2020	12.31.2019
Tax loss carryforwards	7,156	6,659
Trade and other receivables	1,021	752
Cash and cash equivalents	4	-
Trade and other payables	896	790
Salaries and social security payable	123	146
Defined benefit plans	441	400
Provisions	2,478	2,363
Taxes payable	18	18
Adjustment for tax inflation	220	452
Other	27	18
Deferred tax asset	12,384	11,598
Property, plant and equipment	(24,122)	(23,072)
Adjustment for tax inflation	(5,113)	(5,908)
Investments in companies	(503)	(492)
Intangible assets	(704)	(750)
Inventory	(502)	(617)
Trade and other receivables	(419)	(245)
Financial assets at fair value through profit and loss	(455)	(644)
Borrowings	(3)	(3)
Taxes payable	(231)	(231)
Other	-	(2)
Deferred tax liabilities	(32,052)	(31,964)

	03.31.2020	12.31.2019
Deferred tax asset	3,512	1,702
Deferred tax liabilities	(23,180)	(22,068)
Deferred tax liabilities, net	(19,668)	(20,366)

	03.31.2020	12.31.2019
Non-Current
Provisions for contingencies	7,711	7,411
Asset retirement obligation and dismantling of wind turbines	1,319	1,195
Environmental remediation	37	34
Other provisions	71	63
	9,138	8,703

Current
Provisions for contingencies	1,033	968
Asset retirement obligation and dismantling of wind turbines	142	132
Environmental remediation	141	105
Other provisions	1	1
	1,317	1,206

	03.31.2020
	For contingencies	Asset retirement obligation and dismantling of wind turbines	For environmental remediation

At the beginning of the year	8,379	1,327	139
Increases	193	31	31
Decreases	(31)	-	(2)
Exchange differences on translation	428	103	10
Gain on monetary position, net	(5)	-	-
Reversal of unused amounts	(220)	-	-
At the end of the period	8,744	1,461	178

	03.31.2019
	For contingencies	Asset retirement obligation	For environmental remediation

At the beginning of the year	5,332	835	160
Increases	528	17	-
Exchange differences on translation	545	126	(26)
Decreases	(36)	(1)	(26)
Reversal of unused amounts	(16)	-	-
At the end of the period	6,353	977	108

	03.31.2020	12.31.2019
Cash	29	29
Banks	2,503	3,407
Investment funds	10,063	250
Time deposits	188	9,810
Total	12,783	13,496

As of March 31, 2020	Level 1	Level 2	Level 3	Total
Assets
Financial assets at fair value through profit and losss
Government securities	15,310	-	-	15,310
Shares	456	-	722	1,178
Investment funds	1	-	-	1
Cash and cash equivalents
Investment funds	10,063	-	-	10,063
Other receivables	10	-	-	10
Total assets	25,840	-	722	26,562

Liabilities
Derivative financial instruments	-	254	-	254
Total liabilities	-	254	-	254

As of December 31, 2019	Level 1	Level 2	Level 3	Total
Assets
Financial assets at fair value through profit and losss
Government securities	6,775	-	-	6,775
Shares	478	-	671	1,149
Investment funds	14,614	-	-	14,614
Cash and cash equivalents
Investment funds	250	-	-	250
Derivative financial instruments	-	214	-	214
Other receivables	250	-	-	250
Total assets	22,367	214	671	23,252

Liabilities
Derivative financial instruments	-	204	-	204
Total liabilities	-	204	-	204

	03.31.2020	03.31.2019
Earning for continuing operations attributable to the equity holders of the Company	775	6,636
Weighted average amount of outstanding shares	1,641	1,875
Basic and diluted earnings per share	0.47	3.54

	03.31.2020	03.31.2019
Increase in trade receivables and other receivables	(3,835)	(1,339)
Increase in inventories	(203)	(991)
Increase in trade payables and other payables	4,126	4,345
Decrease in salaries and social security payable	(614)	(694)
Decrease in defined benefit plans	(127)	(30)
Decrease in tax payables	(834)	(1,062)
Decrease in provisions	(11)	(91)
Income tax and minimum notional income tax paid	(411)	(374)
Proceeds (payments) from derivative financial instruments, net	327	(122)
Total changes in operating assets and liabilities	(1,582)	(358)

	03.31.2020	03.31.2019
Significant non-cash transactions from continuing operations :
Acquisition of property, plant and equipment through an increase in trade payables	(1,366)	(2,117)
Borrowing costs capitalized in property, plant and equipment	(303)	(125)
Increase in asset retirement obligation provision through an increase in property, plant and equipment	-	47
Constitution of guarantee of derivative financial instruments, net through the delivery of financial assets at fair value through profit or loss	-	119
Dividends pending collection	-	(468)
Increase of right-of-use assets through an increase in other debts	54	306

	03.31.2020	03.31.2019
Associates and joint ventures
CTB ⁽¹⁾	25	-
TGS ⁽²⁾	393	441
Greenwind ⁽¹⁾	11	7
Refinor⁽³⁾	356	196
	785	644

	03.31.2020	03.31.2019
Other related parties
Salaverri, Dellatorre, Burgio & Wetzler ⁽¹⁾	(8)	(33)
Orígenes Seguros de Vida ⁽¹⁾	(5)	-
Fidus ⁽²⁾	(3)	-
	(16)	(33)

As of March 31, 2020	Trade receivables	Other receivables
As of March 31, 2020	Current	Non Current	Current
Associates and joint ventures
CTB	40	-	-
TGS	274	2,090	300
Greenwind	28	280	12
SACME	-	4	-
Refinor	495	-	1
OCP	-	974	-
Other related parties
SACDE	22	-	7
Fidus	-	-	25
Other	-	-	38
	859	3,348	383

As of March 31, 2020	Trade payables	Other payables	Borrowings
As of March 31, 2020	Current	Current	Current
Associates and joint ventures
Transener	2	-	-
Greenwind	331	-	-
SACME	82	10	-
Citelec	-	-	890
OCP	-	6	-
Refinor	7	-	-
Other	2	-	-
	424	16	890

	Type	Amount in currencies other than pesos	Exchange rate⁽¹⁾	Total 03.31.2020	Total 12.31.2019
	Type	Amount in currencies other than pesos	Exchange rate⁽¹⁾	Total 03.31.2020	Total 12.31.2019
ASSETS

NON-CURRENT ASSETS
Financial assets at amortized cost	U$S	4.7	64.47	302	1,048
Other receivables	U$S	61.4	64.47	3,960	3,719
Total non-current assets				4,262	4,767

CURRENT ASSETS

Financial assets at fair value through profit and loss	U$S	240.7	64.47	15,520	10,000
Financial assets at amortized cost	U$S	53.9	64.47	3,473	3,224
Derivate financial instruments	U$S	-	-	-	211
Trade and other receivables	U$S	152.0	64.47	9,799	10,719
	EUR	-	-	-	200
Cash and cash equivalents	U$S	106.9	64.47	6,891	12,914
	U$	2.0	1.50	3	-
	EUR	2.0	71.15	145	135
Total current assets				35,831	37,403
Total assets				40,093	42,170


	Type	Amount in currencies other than pesos	Exchange rate⁽¹⁾	Total 03.31.2020	Total 12.31.2019
	Type	Amount in currencies other than pesos	Exchange rate⁽¹⁾	Total 03.31.2020	Total 12.31.2019
LIABILITIES

NON-CURRENT LIABILITIES
Provisions	U$S	102.2	64.47	6,587	6,048
Taxes payables	U$S	1.3	64.47	83	156
Borrowings	U$S	1,578.5	64.47	101,765	97,854
Trade and other payables	U$S	17.5	64.47	1,128	402
Total non-current liabilities				109,563	104,460

CURRENT LIABILITIES
Provisions	U$S	16.4	64.47	1,058	985
Taxes payables	U$S	12.8	64.47	826	702
Salaries and social security payable	U$S	0.1	64.47	5	4
	U$	2.8	1.50	4	3
Borrowings	U$S	65.7	64.47	4,236	8,590
Trade and other payables	U$S	114.9	64.47	7,406	6,288
	EUR	2.4	71.15	171	251
	CHF	-	-	2	15
	SEK	-	-	-	9
Total current liabilities				13,708	16,847
Total liabilities				123,271	121,307
Net Position Liability				(83,178)	(79,137)