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LOANS PAYABLE AND OTHER FINANCIAL LIABILITIES (Tables) | 9 Months Ended
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Sep. 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 September 30, 2024 and December 31, 2023:
| September 30, 2024 |  | December 31, 2023
| (In millions)
Loans from banks | $ | 680 |  |  | $ | 485 |
Bank overdrafts | 1 |  |  | 33 |
Secured lines of credit | 65 |  |  | 39 |
Financial Bills | 8 |  |  | — |
Deposit Certificates | 1,058 |  |  | 976 |
Commercial Notes | 2 |  |  | 7 |
Finance lease liabilities | 32 |  |  | 35 |
Collateralized debt | 390 |  |  | 693 |
2026 Sustainability Notes | 2 |  |  | 4 |
2031 Notes | 4 |  |  | 9 |
Other lines of credit | 8 |  |  | 11 |
Current loans payable and other financial liabilities | $ | 2,250 |  |  | $ | 2,292 |
Loans from banks | $ | 169 |  |  | $ | 72 |
Secured lines of credit | 8 |  |  | 17 |
Financial Bills | 272 |  |  | 8 |
Commercial Notes | 192 |  |  | 211 |
Finance lease liabilities | 69 |  |  | 96 |
Collateralized debt | 1,455 |  |  | 782 |
2026 Sustainability Notes | 362 |  |  | 389 |
2031 Notes | 575 |  |  | 626 |
Other lines of credit | 1 |  |  | 2 |
Non-Current loans payable and other financial liabilities | $ | 3,103 |  |  | $ | 2,203 |
Type of instrument |  | Currency |  | Interest |  | Weighted Average Interest Rate |  | Maturity |  | September 30, 2024 |  | December 31, 2023
|  |  |  |  |  |  |  |  |  | (In millions)
Loans from banks |  |  |  |  |  |  |  |  |  |  |  |
Chilean Subsidiaries |  | Chilean Pesos |  | Fixed |  | 7.18% |  | October 2024 - September 2025 |  | $ | 126 |  |  | $ | 104 |
Brazilian Subsidiary |  | Brazilian Reais |  | Variable |  | CDI + 0.81% |  | March 2025 |  | 49 |  |  | — |
Brazilian Subsidiary (1) |  | US Dollar |  | Fixed |  | 5.90% |  | November 2024 |  | 53 |  |  | 216 |
Brazilian Subsidiary (1) |  | Euros |  | Fixed |  | 4.26% |  | September 2025 |  | 128 |  |  | — |
Brazilian Subsidiary |  | Brazilian Reais |  | Variable |  | TJLP + 0.80% |  | October 2024 - May 2031 |  | 24 |  |  | 9 |
Mexican Subsidiaries |  | Mexican Pesos |  | Variable |  | TIIE + 1.59% - 3.5% |  | October 2024 - August 2029 |  | 421 |  |  | 178 |
Uruguayan Subsidiary |  | Uruguayan Pesos |  | Fixed |  | 8.78% |  | October - December 2024 |  | 48 |  |  | 50 |
Bank overdrafts |  |  |  |  |  |  |  |  |  |  |  |
Uruguayan Subsidiary |  | Uruguayan Pesos |  | — |  | — |  | October 2024 |  | 1 |  |  | 13 |
Chilean Subsidiaries |  | Chilean Pesos |  | — |  | — |  | — |  | — |  |  | 20 |
Secured lines of credit |  |  |  |  |  |  |  |  |  |  |  |
Argentine Subsidiaries |  | Argentine Pesos |  | Fixed |  | 42.21% |  | October 2024 |  | 56 |  |  | 29 |
Mexican Subsidiary |  | Mexican Pesos |  | Fixed |  | 10.51% |  | October 2024 - July 2027 |  | 17 |  |  | 27 |
Financial Bills |  |  |  |  |  |  |  |  |  |  |  |
Brazilian Subsidiary |  | Brazilian Reais |  | Variable |  | CDI + 0.45% - 1.40% |  | March 2025 - September 2027 |  | 280 |  |  | 8 |
Deposit Certificates |  |  |  |  |  |  |  |  |  |  |  |
Brazilian Subsidiary |  | Brazilian Reais |  | Variable |  | CDI + 0.32% - 0.69% |  | October 2024 - September 2025 |  | 227 |  |  | — |
Brazilian Subsidiary |  | Brazilian Reais |  | Variable |  | 98% to 150% of CDI |  | October 2024 - September 2025 |  | 769 |  |  | 703 |
Brazilian Subsidiary |  | Brazilian Reais |  | Fixed |  | 10.10% - 11.91% |  | October 2024 - March 2025 |  | 34 |  |  | 77 |
Brazilian Subsidiary |  | Brazilian Reais |  | Variable |  | 101.50% of CDI |  | October 2024 |  | 28 |  |  | 196 |
Commercial Notes |  |  |  |  |  |  |  |  |  |  |  |
Brazilian Subsidiary |  | Brazilian Reais |  | Variable |  | DI + 0.88% |  | October 2024 - August 2027 |  | 67 |  |  | 78 |
Brazilian Subsidiary |  | Brazilian Reais |  | Variable |  | IPCA + 6.41% |  | October 2024 - August 2029 |  | 127 |  |  | 140 |
Finance lease liabilities |  |  |  |  |  |  |  |  |  | 101 |  |  | 131 |
Collateralized debt |  |  |  |  |  |  |  |  |  | 1,845 |  |  | 1,475 |
2026 Sustainability Notes |  | US Dollar |  | Fixed |  | 2.375% |  | January 2025 - January 2026 |  | 364 |  |  | 393 |
2031 Notes |  | US Dollar |  | Fixed |  | 3.125% |  | January 2025 - January 2031 |  | 579 |  |  | 635 |
Other lines of credit |  |  |  |  |  |  |  |  |  | 9 |  |  | 13 |
|  |  |  |  |  |  |  |  |  | $ | 5,353 |  |  | $ | 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.

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