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LOANS PAYABLE AND OTHER FINANCIAL LIABILITIES (Tables) | 3 Months Ended
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Mar. 31, 2024
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, 2024 and December 31, 2023:
| March 31, 2024 |  | December 31, 2023
| (In millions)
Loans from banks | $ | 556 |  |  | $ | 485 |
Bank overdrafts | 10 |  |  | 34 |
Secured lines of credit | 48 |  |  | 39 |
Deposit Certificates | 831 |  |  | 976 |
Commercial Notes | 6 |  |  | 7 |
Finance lease obligations | 36 |  |  | 35 |
Collateralized debt | 737 |  |  | 693 |
2026 Sustainability Notes | 2 |  |  | 4 |
2031 Notes | 4 |  |  | 9 |
Other lines of credit | 16 |  |  | 10 |
Current loans payable and other financial liabilities | $ | 2,246 |  |  | $ | 2,292 |
Loans from banks | $ | 56 |  |  | $ | 72 |
Secured lines of credit | 14 |  |  | 17 |
Financial Bills | 28 |  |  | 8 |
Commercial Notes | 206 |  |  | 211 |
Finance lease liabilities | 92 |  |  | 96 |
Collateralized debt | 812 |  |  | 782 |
2026 Sustainability Notes | 389 |  |  | 389 |
2031 Notes | 626 |  |  | 626 |
Other lines of credit | 1 |  |  | 2 |
Non-Current loans payable and other financial liabilities | $ | 2,224 |  |  | $ | 2,203 |
Type of instrument |  | Currency |  | Interest |  | Weighted Average Interest Rate |  | Maturity |  | March 31, 2024 |  | December 31, 2023
|  |  |  |  |  |  |  |  |  | (In millions)
Loans from banks |  |  |  |  |  |  |  |  |  |  |  |
Chilean Subsidiaries |  | Chilean Pesos |  | Fixed |  | 8.52% |  | April 2024 - April 2025 |  | $ | 104 |  |  | $ | 104 |
Brazilian Subsidiary |  | Brazilian Reais |  | Variable |  | CDI + 0.81% |  | March 2025 |  | 50 |  |  | — |
Brazilian Subsidiary (1) |  | US Dollar |  | Fixed |  | 5.90% |  | August - November 2024 |  | 219 |  |  | 216 |
Brazilian Subsidiary |  | Brazilian Reais |  | Variable |  | TJLP + 0.80% |  | April 2024 - May 2031 |  | 9 |  |  | 9 |
Mexican Subsidiary |  | Mexican Pesos |  | Variable |  | TJLP + 2.20% to 3.5% |  | April 2024 - June 2027 |  | 164 |  |  | 178 |
Uruguayan Subsidiary |  | Uruguayan Pesos |  | Fixed |  | 9.13% |  | April 2024 |  | 62 |  |  | 50 |
Colombian Subsidiary |  | Colombian Pesos |  | Fixed |  | 12.99% |  | May 2024 |  | 4 |  |  | — |
Bank overdrafts |  |  |  |  |  |  |  |  |  |  |  |
Uruguayan Subsidiary |  | Uruguayan Pesos |  | — |  | — |  | — |  | — |  |  | 13 |
Chilean Subsidiary |  | Chilean Pesos |  | — |  | — |  | April 2024 |  | 4 |  |  | 20 |
Argentine Subsidiaries |  | Argentine Pesos |  | — |  | — |  | April 2024 |  | 6 |  |  | 1 |
Secured lines of credit |  |  |  |  |  |  |  |  |  |  |  |
Argentine Subsidiaries |  | Argentine Pesos |  | Fixed |  | 76.18% |  | April 2024 |  | 36 |  |  | 29 |
Mexican Subsidiary |  | Mexican Pesos |  | Fixed |  | 10.32% |  | April 2024 - July 2027 |  | 26 |  |  | 27 |
Financial Bills |  |  |  |  |  |  |  |  |  |  |  |
Brazilian Subsidiary |  | Brazilian Reais |  | Variable |  | CDI + 0.95% - 1.40% |  | April 2025 - March 2026 |  | 28 |  |  | 8 |
Deposit Certificates |  |  |  |  |  |  |  |  |  |  |  |
Brazilian Subsidiary |  | Brazilian Reais |  | Variable |  | 98% to 120% of CDI |  | April 2024 - March 2025 |  | 739 |  |  | 703 |
Brazilian Subsidiary |  | Brazilian Reais |  | Fixed |  | 10.07% - 14.20% |  | April - September 2024 |  | 52 |  |  | 77 |
Brazilian Subsidiary |  | Brazilian Reais |  | Variable |  | 105.00% to 105.50% of CDI |  | April 2024 |  | 40 |  |  | 196 |
Commercial Notes |  |  |  |  |  |  |  |  |  |  |  |
Brazilian Subsidiary |  | Brazilian Reais |  | Variable |  | DI + 0.88% |  | April 2024 - August 2027 |  | 72 |  |  | 78 |
Brazilian Subsidiary |  | Brazilian Reais |  | Variable |  | IPCA + 6.41% |  | April 2024 - August 2029 |  | 140 |  |  | 140 |
Finance lease liabilities |  |  |  |  |  |  |  |  |  | 128 |  |  | 131 |
Collateralized debt |  |  |  |  |  |  |  |  |  | 1,549 |  |  | 1,475 |
2026 Sustainability Notes |  | US Dollar |  | Fixed |  | 2.375% |  | July 2024 - January 2026 |  | 391 |  |  | 393 |
2031 Notes |  | US Dollar |  | Fixed |  | 3.125% |  | July 2024 - January 2031 |  | 630 |  |  | 635 |
Other lines of credit |  |  |  |  |  |  |  |  |  | 17 |  |  | 12 |
|  |  |  |  |  |  |  |  |  | $ | 4,470 |  |  | $ | 4,495 |
(1) The carrying amount includes the effect of the derivative instrument that qualified for fair value hedge accounting. See Note 16 – Derivative instruments for further detail.

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