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Loans payable and other financial liabilities (Tables)
 3 Months Ended
Mar. 31, 2023
Debt Disclosure [Abstract]  
Summary of Loans Payable and Other Financial Liabilities
The following tables summarize the Company’s Loans payable and other financial liabilities as of March 31, 2023 and December 31, 2022:
Balances as of
March 31, 2023December 31, 2022
(In millions)
Current loans payable and other financial liabilities:
Loans from banks$361 $319 
Bank overdrafts22 9 
Secured lines of credit113 115 
Financial Bills120 113 
Deposit Certificates949 993 
Commercial Notes6 6 
Finance lease obligations18 14 
Collateralized debt723 535 
2028 Notes1 3 
2026 Sustainability Notes2 4 
2031 Notes5 10 
Other lines of credit12 10 
$2,332 $2,131 
Non-Current loans payable and other financial liabilities:
Loans from banks$138 $145 
Secured lines of credit24 24 
Deposit Certificates2 3 
Commercial Notes191 187 
Finance lease obligations43 37 
Collateralized debt573 703 
2028 Notes436 436 
2026 Sustainability Notes398 398 
2031 Notes695 694 
$2,500 $2,627 
Balances as of
Type of instrumentCurrencyInterestWeighted Average Interest Rate MaturityMarch 31, 2023December 31, 2022
 (In millions)
Loans from banks
Chilean SubsidiariesChilean PesosFixed11.72%April 2023 - April 2025$131 $150 
Brazilian Subsidiary (*)US DollarFixed5.75%November 202350 — 
Brazilian Subsidiary (*)US DollarFixed4.32%August 202359 59 
Brazilian SubsidiaryBrazilian ReaisVariable
TJLP +0.8
%April 2023 - May 20319 9 
Mexican SubsidiaryMexican PesosVariable
TIIE + 2.20 - 3.50
%April 2023 - June 2027190 177 
Uruguayan SubsidiaryUruguayan PesosFixed11.60%April - June 202344 47 
Colombian SubsidiaryColombian PesosFixed15.13%May 2023 - June 202316 22 
Bank overdrafts
Uruguayan SubsidiaryUruguayan Pesos——%—— 9 
Argentine SubsidiariesArgentine PesosFixed—%April 202322 — 
Secured lines of credit
Argentine SubsidiariesArgentine PesosFixed71.52%April 2024104 107 
Mexican SubsidiaryMexican PesosFixed10.07%April 2023 - July 202733 32 
Financial Bills
Brazilian SubsidiaryBrazilian ReaisVariable
CDI + 0.95% - 1.10%
%July 2023 - February 2024120 113 
Deposit Certificates
Brazilian SubsidiaryBrazilian ReaisVariable
IPCA + 5.35 - 6.85
%April - May 2023210 272 
Brazilian SubsidiaryBrazilian ReaisVariable
99% to 140% of CDI
April 2023 - September 2024668 565 
Brazilian SubsidiaryBrazilian ReaisFixed
12.55 - 14.70
%April - September 202373 114 
Brazilian SubsidiaryBrazilian Reais——%—— 45 
Commercial Notes
Brazilian SubsidiaryBrazilian ReaisVariable
DI +0.88
%April 2023 - August 202771 71 
Brazilian SubsidiaryBrazilian ReaisVariable
IPCA + 6.41
%April 2023 - August 2029126 122 
Finance lease obligations61 51 
Collateralized debt1,296 1,238 
2028 NotesUS DollarFixed2.00%August 2023 - August 2028437 439 
2026 Sustainability NotesUS DollarFixed2.375%July 2023 - January 2026400 402 
2031 NotesUS DollarFixed3.125%July 2023 - January 2031700 704 
Other lines of credit12 10 
$4,832 $4,758 
(*)The carrying amount includes the effect of the derivative instrument that qualified for fair value hedge. See note 15 "Derivative Instruments" for further detail.
Schedule of Capped Call Transactions The amounts the Company has paid, including transaction expenses, are as follows:
Capped call trading dateAmount
(In millions)
June 2019 (*)
$88 
June 2020 (*)
104 
August 202083 
November 2020120 
January 2021101 
(*) Partially unwound in 2021.