Ecopetrol (Ecopetrol) Intangible Assets

: $0 Mil (As of Sep. 2023)

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Intangible assets are defined as identifiable non-monetary assets that cannot be seen, touched or physically measured. Ecopetrol's intangible assets for the quarter that ended in Sep. 2023 was $0 Mil.

Ecopetrol Intangible Assets Historical Data

The historical data trend for Ecopetrol's Intangible Assets can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Ecopetrol Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Intangible Assets

467.98

603.07

5,124.03

4,926.62

Ecopetrol Quarterly Data
	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Sep23	Dec23
Intangible Assets																5,018.78	4,926.62	4,668.98	-	-

Ecopetrol Intangible Assets Calculation

Intangible assets are defined as identifiable non-monetary assets that cannot be seen, touched or physically measured. Examples of intangible assets include trade secrets, copyrights, patents, trademarks. If a company acquires assets at the prices above the book value, it may carry goodwill on its balance sheet. Goodwill reflects the difference between the price the company paid and the book value of the assets.

Ecopetrol (NYSE:EC) Intangible Assets Explanation

If a company (company A) received a patent through their own work, though it has value, it does not show up on its balance sheet as an intangible asset. However, if company A sells this patent to company B, it will show up on company B's balance sheet as an intangible asset.

The same applies to brand names, trade secrets etc. For instance, Coca-Cola's brand is extremely valuable, but the brand does not appear on its balance sheet, because the brand was never acquired.

Some intangibles are amortized. Amortization is the depreciation of intangible assets.

Many intangibles are not amortized. They may still be written down when the company decides the asset is impaired.

Whenever you see an increase in goodwill over a number of years, you can assume it's because the company is out buying other businesses above book value. GOOD if buying businesses with durable competitive advantage.

If goodwill stays the same, the company when acquiring other companies is either paying less than book value or not acquiring. Businesses with moats never sell for less than book value.

Intangibles acquired are on balance sheet at fair value.

Internally developed brand names (Coke, Wrigleys, Band-Aid) however are not reflected on the balance sheet.

One of the reasons competitive advantage power can remain hidden for so long.

Be Aware

Companies may change the way intangible assets are amortized, and this will affect their reported earnings.

Ecopetrol Intangible Assets Related Terms

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Ecopetrol (Ecopetrol) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Ecopetrol SA (NYSE:EC) » Definitions » Intangible Assets

Traded in Other Exchanges

ECHA:Germany ECHA:Germany ECOPETROL:Columbia E1CO34:Brazil

Address

Carrera 13 No. 36 - 24, Main Building, Bogota, COL

Website

https://www.ecopetrol.com.co

Ecopetrol SA is a vertically integrated oil company with operations in Latin America and the United States Gulf Coast. Based out of Colombia, the company explores, develops, and conducts production activities in various countries. Ecopetrol works as the primary operator or partner in a joint venture, in a host of assets held onshore and offshore. Along with production, the company refines and markets crude oils and byproducts produced from its fields. Crude products are moved by Ecopetrol through a series of pipelines throughout Colombia, along with a network of third-party production centers and facilities.