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STATEMENT OF CASH FLOWS | 12 Months Ended
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Dec. 31, 2018
Statement Of Cash Flows |
STATEMENT OF CASH FLOWS | NOTE 35 - STATEMENT OF CASH FLOWS (a) The Company has done significant non-cash transactions mainly with financial leases, which are detailed in Note 17 letter (d), additional information in numeral (iv) Financial leases. (b) Other inflows (outflows) of cash:
|  | For theyear ended |
|  | December 31, |
|  | 2018 |  |  | 2017 |  |  | 2016 |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Fuel hedge |  |  | 77,234 |  |  |  | 19,862 |  |  |  | (50,029 | )
Hedging margin guarantees |  |  | 14,755 |  |  |  | (4,201 | ) |  |  | 1,184 |
Guarantees |  |  | 1,573 |  |  |  | 59,988 |  |  |  | (51,559 | )
Tax paid on bank transaction |  |  | 318 |  |  |  | (6,635 | ) |  |  | (10,668 | )
Change reservation systems |  |  | - |  |  |  | (16,120 | ) |  |  | - |
SEC agreement |  |  | - |  |  |  | - |  |  |  | (4,719 | )
DOJ fine |  |  | - |  |  |  | - |  |  |  | (12,750 | )
Currency hedge |  |  | (1,282 | ) |  |  | (17,798 | ) |  |  | (39,534 | )
Bank commissions, taxes paid and other |  |  | (8,179 | ) |  |  | (7,738 | ) |  |  | (769 | )
Fuel derivatives premiums |  |  | (13,947 | ) |  |  | (2,832 | ) |  |  | (6,840 | )
Court deposits |  |  | (30,860 | ) |  |  | (33,457 | ) |  |  | (33,635 | )
Others |  |  | - |  |  |  | - |  |  |  | 50 |
Total Other inflows (outflows) Operation flow |  |  | 39,612 |  |  |  | (8,931 | ) |  |  | (209,269 | )
Others deposits in guarantees |  |  | - |  |  |  | 3,754 |  |  |  | - |
Recovery loans convertible into shares |  |  | - |  |  |  | - |  |  |  | 8,896 |
Tax paid on bank transaction |  |  | (2,476 | ) |  |  | (2,594 | ) |  |  | (3,716 | )
Others |  |  | - |  |  |  | (10,383 | ) |  |  | (4,337 | )
Total Other inflows (outflows) Investment flow |  |  | (2,476 | ) |  |  | (9,223 | ) |  |  | 843 |
Loan guarantee |  |  | - |  |  |  | 80,615 |  |  |  | (74,186 | )
Aircraft Financing advances |  |  | 55,728 |  |  |  | (26,214 | ) |  |  | (125,149 | )
Settlement of derivative contracts |  |  | (11,675 | ) |  |  | (40,695 | ) |  |  | (29,828 | )
Total Other inflows (outflows) Financing flow |  |  | 44,053 |  |  |  | 13,706 |  |  |  | (229,163 | )
Dividends:
|  | For the year ended |
|  | December 31, |
|  | 2018 |  |  | 2017 |  |  | 2016 |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Latam Airlines Group S.A. |  |  | (46,591 | ) |  |  | (20,766 | ) |  |  | - |
Multiplus S.A. (*) |  |  | (26,029 | ) |  |  | (45,876 | ) |  |  | (40,823 | )
Lan Perú S.A. (*) |  |  | - |  |  |  | - |  |  |  | (400 | )
Total dividends paid |  |  | (72,620 | ) |  |  | (66,642 | ) |  |  | (41,223 | )
(*) Dividends paid to minority shareholders
| d) | Reconciliation of liabilities arising from financing activities:
|  | As of |  |  | Cash flows |  |  | Non-Flow Movements |  |  | As of |
Obligations with |  | December 31, |  |  | Obtainment |  |  | Payment |  |  | Interest accrued |  |  |  |  |  | December 31, |
financial institutions |  | 2017 |  |  | Capital |  |  | Capital |  |  | Interest |  |  | and others |  |  | Reclassifications |  |  | 2018 |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Loans to exporters |  |  | 314,619 |  |  |  | 293,001 |  |  |  | (202,000 | ) |  |  | (10,467 | ) |  |  | 5,568 |  |  |  | - |  |  |  | 400,721 |
Bank loans |  |  | 321,633 |  |  |  | 74,663 |  |  |  | (167,548 | ) |  |  | (13,961 | ) |  |  | 7,954 |  |  |  | - |  |  |  | 222,741 |
Guaranteed obligations |  |  | 4,036,843 |  |  |  | - |  |  |  | (315,698 | ) |  |  | (122,639 | ) |  |  | 99,320 |  |  |  | (1,163,805 | ) |  |  | 2,534,021 |
Other guaranteed obligations |  |  | 242,175 |  |  |  | 704,398 |  |  |  | (274,339 | ) |  |  | (16,873 | ) |  |  | 18,091 |  |  |  | - |  |  |  | 673,452 |
Obligation with the public |  |  | 1,584,066 |  |  |  | - |  |  |  | 1,561 |  |  |  | (107,629 | ) |  |  | 75,081 |  |  |  | - |  |  |  | 1,553,079 |
Financial leases |  |  | 1,109,504 |  |  |  | - |  |  |  | (691,390 | ) |  |  | (69,808 | ) |  |  | 112,743 |  |  |  | 1,163,805 |  |  |  | 1,624,854 |
Other loans |  |  | 282,800 |  |  |  | 55,728 |  |  |  | (88,935 | ) |  |  | (15,978 | ) |  |  | 19,243 |  |  |  | - |  |  |  | 252,858 |
Total Obligations with financial institutions |  |  | 7,891,640 |  |  |  | 1,127,790 |  |  |  | (1,738,349 | ) |  |  | (357,355 | ) |  |  | 338,000 |  |  |  | - |  |  |  | 7,261,726 |
| (e) | Advances of aircraft
Below are the cash flows associated with aircraft purchases, which are included in the statement of consolidated cash flow, in the item Purchases of properties, plants and equipment:
|  | For the year ended |
|  | December 31, |
|  | 2018 |  |  | 2017 |
|  | ThUS$ |  |  | ThUS$ |
Increases (payments) |  |  | (212,163 | ) |  |  | (205,143 | )
Recoveries |  |  | 157,508 |  |  |  | 103,065 |
Total cash flows |  |  | (54,655 | ) |  |  | (102,078 | )
f) The net effect by the hyperinflation application in the consolidated statement of cash flow for the exercise ended December 31, 2018 corresponds to:
|  | ThUS$ |
Net cash flows from (used in) operating activities |  |  | 6,088 |
Net cash flows from (used in) investment activities |  |  | (17,611 | )
Net cash flows from (used in) financing activities |  |  | 3,914 |
Effects of variation in the exchange rate on cash and cash equivalents |  |  | 7,609 |
Net increase (decrease) in cash and cash equivalents |  |  | - |

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