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TRADE AND OTHER ACCOUNTS RECEIVABLE CURRENT, AND NON-CURRENT ACCOUNTS RECEIVABLE (Tables) | 12 Months Ended
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Dec. 31, 2018
Trade and other receivables [abstract] |
Schedule of trade and other accounts receivable |
|  | As of |  |  | As of |
|  | December 31, |  |  | December 31, |
|  | 2018 |  |  | 2017 |
|  | ThUS$ |  |  | ThUS$ |
Trade accounts receivable |  |  | 1,077,561 |  |  |  | 1,175,796 |
Other accounts receivable |  |  | 188,393 |  |  |  | 133,054 |
Total trade and other accounts receivable |  |  | 1,265,954 |  |  |  | 1,308,850 |
Less: Allowance for impairment loss |  |  | (97,991 | ) |  |  | (87,909 | )
Total net trade and accounts receivable |  |  | 1,167,963 |  |  |  | 1,220,941 |
Less: non-current portion – accounts receivable |  |  | (5,381 | ) |  |  | (6,891 | )
Trade and other accounts receivable, current |  |  | 1,162,582 |  |  |  | 1,214,050 |
Schedule of matured accounts receivable and impaired | The maturity of the portfolio as of December 31, 2017 is as follows:
Up to date |  |  | 1,040,671 |
Matured accounts receivable, but not impaired |  |  |  |
Expired from 1 to 90 days |  |  | 34,153 |
Expired from 91 to 180 days |  |  | 10,141 |
More than 180 days overdue (*) |  |  | 2,922 |
Total matured accounts receivable, but not impaired |  |  | 47,216 |
Matured accounts receivable and impaired Judicial, pre-judicial collection and protested documents |  |  | 43,175 |
Debtor under pre-judicial collection process and portfolio sensitization |  |  | 44,734 |
Total matured accounts receivable and impaired |  |  | 87,909 |
Total |  |  | 1,175,796 |
(*) Value of this segment corresponds primarily to accounts receivable that were evaluated in their ability to recover, therefore not requiring a provision.
Schedule of expected credit losses | As of December 31, 2018, in order to determine the expected credit losses, the company groups accounts receivable for passenger and cargo transportation; depending on the characteristics of shared credit risk and maturity.
|  | Portfolio maturity |  |  |  |
|  |  |  |  | from 1 to |  |  | from 91 to |  |  | from 181 to |  |  | more of |  |  |  |
|  | Up to date |  |  | 90 days |  |  | 180 days |  |  | 360 days |  |  | 360 days |  |  | Total |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Expected loss rate (1) |  |  | 3 | % |  |  | 5 | % |  |  | 45 | % |  |  | 65 | % |  |  | 76 | % |  |  | 9 | %
Gross book value (2) |  |  | 888,930 |  |  |  | 91,387 |  |  |  | 11,085 |  |  |  | 15,078 |  |  |  | 71,081 |  |  |  | 1,077,561 |
Impairment loss provision |  |  | (23,933 | ) |  |  | (5,014 | ) |  |  | (4,983 | ) |  |  | (9,864 | ) |  |  | (54,197 | ) |  |  | (97,991 | )
(1) Corresponds to the expected average rate. (2) the gross book value represents the maximum growth risk value of trade accounts receivable.
Schedule of trade and other accounts receivable and non-current accounts receivable | 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 |  | 2018 |  |  | 2017 |
|  | ThUS$ |  |  | ThUS$ |
Argentine Peso |  |  | 82,893 |  |  |  | 49,958 |
Brazilian Real |  |  | 511,174 |  |  |  | 635,894 |
Chilean Peso |  |  | 118,546 |  |  |  | 90,302 |
Colombian peso |  |  | 7,259 |  |  |  | 3,249 |
Euro |  |  | 49,044 |  |  |  | 48,286 |
US Dollar |  |  | 110,312 |  |  |  | 257,324 |
Other currency (*) |  |  | 288,735 |  |  |  | 135,928 |
Total |  |  | 1,167,963 |  |  |  | 1,220,941 |
(*) Other currencies |  |  |  |  |  |  |  |
Australian Dollar |  |  | 100,733 |  |  |  | 40,303 |
Chinese Yuan |  |  | 5,106 |  |  |  | 37 |
Danish Krone |  |  | 475 |  |  |  | 197 |
Pound Sterling |  |  | 18,129 |  |  |  | 5,068 |
Indian Rupee |  |  | 7,163 |  |  |  | 3,277 |
Japanese Yen |  |  | 56,589 |  |  |  | 18,756 |
Norwegian Kroner |  |  | 283 |  |  |  | 133 |
Swiss Franc |  |  | 5,046 |  |  |  | 2,430 |
Korean Won |  |  | 31,381 |  |  |  | 18,225 |
New Taiwanese Dollar |  |  | 6,180 |  |  |  | 2,983 |
Other currencies |  |  | 57,650 |  |  |  | 44,519 |
Total |  |  | 288,735 |  |  |  | 135,928 |
Schedule of allowance for impairment loss of trade and other accounts receivables | The movements of the provision for impairment losses of the Trade Debtors and other accounts receivable are as follows:
|  |  |  |  | Adoption |  |  |  |  |  |  |  |  |  |
|  | Opening |  |  | adjustment |  |  |  |  |  | (Increase) |  |  | Closing |
|  | balance |  |  | IFRS 9 (*) |  |  | Write-offs |  |  | Decrease |  |  | balance |
Periods |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
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 | )
From January 1 to December 31, 2018 |  |  | (87,909 | ) |  |  | (10,524 | ) |  |  | 8,620 |  |  |  | (8,178 | ) |  |  | (97,991 | )
(*) Adjustment to the balance as of December 31, 2017 registered in retained earnings as of 01.01.2018 for the adoption of IFRS 9.
Schedule of accounts receivable categories | 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, 2018 |  |  | As of December 31, 2017 |
|  | 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 |  |  | 1,077,561 |  |  |  | (97,991 | ) |  |  | 979,570 |  |  |  | 1,175,796 |  |  |  | (87,909 | ) |  |  | 1,087,887 |
Other accounts receivable |  |  | 188,393 |  |  |  | - |  |  |  | 188,393 |  |  |  | 133,054 |  |  |  | - |  |  |  | 133,054 |

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