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TRADE AND OTHER ACCOUNTS RECEIVABLE CURRENT, AND NON-CURRENT ACCOUNTS RECEIVABLE | 12 Months Ended
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Dec. 31, 2017
Trade and other receivables [abstract] |
TRADE AND OTHER ACCOUNTS RECEIVABLE CURRENT, AND NON-CURRENT ACCOUNTS RECEIVABLE | NOTE 8 - TRADE AND OTHER ACCOUNTS RECEIVABLE CURRENT, AND NON-CURRENT ACCOUNTS RECEIVABLE
|  | As of |  |  | As of |
|  | December 31, |  |  | December 31, |
|  | 2017 |  |  | 2016 |
|  | ThUS$ |  |  | ThUS$ |
Trade accounts receivable |  |  | 1,175,796 |  |  |  | 1,022,933 |
Other accounts receivable |  |  | 133,054 |  |  |  | 170,264 |
Total trade and other accounts receivable |  |  | 1,308,850 |  |  |  | 1,193,197 |
Less: Allowance for impairment loss |  |  | (87,909 | ) |  |  | (77,054 | )
Total net trade and accounts receivable |  |  | 1,220,941 |  |  |  | 1,116,143 |
Less: non-current portion – accounts receivable |  |  | (6,891 | ) |  |  | (8,254 | )
Trade and other accounts receivable, current |  |  | 1,214,050 |  |  |  | 1,107,889 |
The fair value of trade and other accounts receivable does not differ significantly from the book value. The maturity of these accounts at the end of each period is as follows:
|  | As of |  |  | As of |
|  | December 31, |  |  | December 31, |
|  | 2017 |  |  | 2016 |
|  | ThUS$ |  |  | ThUS$ |
Fully performing |  |  | 1,040,671 |  |  |  | 907,358 |
Matured accounts receivable, but not impaired |  |  |  |  |  |  |  |
Expired from 1 to 90 days |  |  | 34,153 |  |  |  | 27,651 |
Expired from 91 to 180 days |  |  | 10,141 |  |  |  | 9,303 |
More than 180 days overdue (*) |  |  | 2,922 |  |  |  | 1,567 |
Total matured accounts receivable, but not impaired |  |  | 47,216 |  |  |  | 38,521 |
Matured accounts receivable and impaired Judicial, pre-judicial collection and protested documents |  |  | 43,175 |  |  |  | 34,909 |
Debtor under pre-judicial collection process and portfolio sensitization |  |  | 44,734 |  |  |  | 42,145 |
Total matured accounts receivable and impaired |  |  | 87,909 |  |  |  | 77,054 |
Total |  |  | 1,175,796 |  |  |  | 1,022,933 |
(*) Value of this segment corresponds primarily to accounts receivable that were evaluated in their ability to recover, therefore not requiring a provision. Currency balances that make up the Trade and other accounts receivable and non-current accounts receivable are the following:
|  | As of |  |  | As of |
|  | December 31, |  |  | December 31, |
Currency |  | 2017 |  |  | 2016 |
|  | ThUS$ |  |  | ThUS$ |
Argentine Peso |  |  | 49,958 |  |  |  | 82,770 |
Brazilian Real |  |  | 635,894 |  |  |  | 551,264 |
Chilean Peso |  |  | 90,302 |  |  |  | 101,041 |
Colombian peso |  |  | 3,249 |  |  |  | 16,454 |
Euro |  |  | 48,286 |  |  |  | 21,923 |
US Dollar |  |  | 257,324 |  |  |  | 312,394 |
Other currency (*) |  |  | 135,928 |  |  |  | 30,297 |
Total |  |  | 1,220,941 |  |  |  | 1,116,143 |
(*) Other currencies |  |  |  |  |  |  |  |
Australian Dollar |  |  | 40,303 |  |  |  | 5,487 |
Chinese Yuan |  |  | 37 |  |  |  | 271 |
Danish Krone |  |  | 197 |  |  |  | 151 |
Pound Sterling |  |  | 5,068 |  |  |  | 3,904 |
Indian Rupee |  |  | 3,277 |  |  |  | 303 |
Japanese Yen |  |  | 18,756 |  |  |  | 2,601 |
Norwegian Kroner |  |  | 133 |  |  |  | 184 |
Swiss Franc |  |  | 2,430 |  |  |  | 1,512 |
Korean Won |  |  | 18,225 |  |  |  | 4,241 |
New Taiwanese Dollar |  |  | 2,983 |  |  |  | 662 |
Other currencies |  |  | 44,519 |  |  |  | 10,938 |
Total |  |  | 135,928 |  |  |  | 30,254 |
The Company records allowances when there is evidence of impairment of trade receivables. The criteria used to determine that there is objective evidence of impairment losses are the maturity of the portfolio, specific acts of damage (default) and specific market signals.
Maturity |  | Impairment |
Judicial and pre-judicial collection assets |  |  | 100 | %
Over 1 year |  |  | 100 | %
Between 6 and 12 months |  |  | 50 | %
Movement in the allowance for impairment loss of Trade and other accounts receivables are the following:
|  | Opening |  |  |  |  |  | (Increase) |  |  | Closing |
|  | balance |  |  | Write-offs |  |  | Decrease |  |  | balance |
Periods |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
From January 1 to December 31, 2015 |  |  | (71,042 | ) |  |  | 10,120 |  |  |  | 850 |  |  |  | (60,072 | )
From January 1 to December 31, 2016 |  |  | (60,072 | ) |  |  | 20,910 |  |  |  | (37,892 | ) |  |  | (77,054 | )
From January 1 to December 31, 2017 |  |  | (77,054 | ) |  |  | 8,249 |  |  |  | (19,104 | ) |  |  | (87,909 | )
Once pre-judicial and judicial collection efforts are exhausted, the assets are written off against the allowance. The Company only uses the allowance method rather than direct write-off, to ensure control. Historic and current re-negotiations are not relevant and the policy is to analyze case by case in order to classify them according to the existence of risk, determining whether it is appropriate to re-classify accounts to pre-judicial recovery. If such re-classification is justified, an allowance is made for the account, whether overdue or falling due. The maximum credit-risk exposure at the date of presentation of the information is the fair value of each one of the categories of accounts receivable indicated above.
|  | As of December 31, 2017 |  |  | As of December 31, 2016 |
|  | Gross exposure |  |  | Gross |  |  | Exposure net |  |  | Gross exposure |  |  | Gross |  |  | Exposure net |
|  | according to |  |  | impaired |  |  | of risk |  |  | according to |  |  | Impaired |  |  | of risk |
|  | balance |  |  | exposure |  |  | concentrations |  |  | balance |  |  | exposure |  |  | concentrations |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Trade accounts receivable |  |  | 1,175,796 |  |  |  | (87,909 | ) |  |  | 1,087,887 |  |  |  | 1,022,933 |  |  |  | (77,054 | ) |  |  | 945,879 |
Other accounts receivable |  |  | 133,054 |  |  |  | - |  |  |  | 133,054 |  |  |  | 170,264 |  |  |  | - |  |  |  | 170,264 |
There are no relevant guarantees covering credit risk and these are valued when they are settled; no materially significant direct guarantees exist. Existing guarantees, if appropriate, are made through IATA.

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- Definition The disclosure of trade and other receivables. [Refer: Trade and other receivables] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2017-01-01 -Paragraph 10 -Subparagraph e -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&num=1&date=2017-03-01&anchor=para_10_e&doctype=Standard -URIDate 2017-03-09 + Details
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