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LOANS PAYABLE AND OTHER FINANCIAL LIABILITIES (Tables)
 6 Months Ended
Jun. 30, 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 June 30, 2024 and December 31, 2023:
June 30, 2024December 31, 2023
(In millions)
Loans from banks$629 $485 
Bank overdrafts126 33 
Secured lines of credit43 39 
Financial Bills1 — 
Deposit Certificates923 976 
Commercial Notes10 7 
Finance lease obligations33 35 
Collateralized debt424 693 
2026 Sustainability Notes4 4 
2031 Notes9 9 
Other lines of credit1 11 
Current loans payable and other financial liabilities$2,203 $2,292 
Loans from banks$49 $72 
Secured lines of credit11 17 
Financial Bills84 8 
Commercial Notes186 211 
Finance lease liabilities78 96 
Collateralized debt1,057 782 
2026 Sustainability Notes374 389 
2031 Notes599 626 
Other lines of credit1 2 
Non-Current loans payable and other financial liabilities$2,439 $2,203 
Type of instrumentCurrencyInterestWeighted Average Interest Rate MaturityJune 30, 2024December 31, 2023





 (In millions)
Loans from banks
Chilean SubsidiariesChilean PesosFixed7.58%July 2024 - May 2025$110 $104 
Brazilian SubsidiaryBrazilian ReaisVariable
CDI + 0.81%
March 202546 — 
Brazilian Subsidiary (1)
US DollarFixed5.90%August - November 2024223 216 
Brazilian SubsidiaryBrazilian ReaisVariable
TJLP + 0.80%
July 2024 - May 203124 9 
Mexican SubsidiaryMexican PesosVariable
TJLP + 1.59% to 3.5%
July 2024 - June 2027212 178 
Uruguayan SubsidiaryUruguayan PesosFixed8.74%July - September 202459 50 
Colombian SubsidiaryColombian PesosFixed12.59%July 20244 — 
Bank overdrafts
Uruguayan SubsidiaryUruguayan PesosFixed9.29%July 202411 13 
Chilean SubsidiariesChilean PesosVariableTIB + 2.00%July 20247 20 
Brazilian SubsidiaryBrazilian Reais——July 2024108 — 
Secured lines of credit
Argentine SubsidiariesArgentine PesosFixed38.29%July 202433 29 
Mexican SubsidiaryMexican PesosFixed10.42%July 2024 - July 202721 27 
Financial Bills
Brazilian SubsidiaryBrazilian ReaisVariable
CDI + 0.65% - 1.40%
March 2025 - June 202685 8 
Deposit Certificates
Brazilian SubsidiaryBrazilian ReaisVariable
CDI + 0.69%
June 202514 — 
Brazilian SubsidiaryBrazilian ReaisVariable
100% to 150% of CDI
July 2024 - June 2025858 703 
Brazilian SubsidiaryBrazilian ReaisFixed
10.07% - 11.45%
July - December 202424 77 
Brazilian SubsidiaryBrazilian ReaisVariable
104.00% of CDI
August 202427 196 
Commercial Notes
Brazilian SubsidiaryBrazilian ReaisVariable
DI + 0.88%
July 2024 - August 202767 78 
Brazilian SubsidiaryBrazilian ReaisVariable
IPCA + 6.41%
July 2024 - August 2029129 140 
Finance lease liabilities111 131 
Collateralized debt1,481 1,475 
2026 Sustainability NotesUS DollarFixed2.375%July 2024 - January 2026378 393 
2031 NotesUS DollarFixed3.125%July 2024 - January 2031608 635 
Other lines of credit2 13 
$4,642 $4,495 
(1) The carrying amount includes the effect of the derivative instruments that qualified for fair value hedge accounting. See Note 16 – Derivative instruments for further detail.