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FOREIGN CURRENCY AND EXCHANGE RATE DIFFERENCES

12 Months Ended

Dec. 31, 2020

Disclosure of effect of changes in foreign exchange rates [text block] [Abstract]

FOREIGN CURRENCY AND EXCHANGE RATE DIFFERENCES

NOTE 29 - FOREIGN CURRENCY AND EXCHANGE RATE DIFFERENCES

The functional currency of LATAM Airlines Group S.A. is the US dollar, also it has subsidiaries whose functional currency is different to the US dollar, such as the chilean peso, argentine peso, colombian peso, brazilian real and guaraní.

The functional currency is defined as the currency of the primary economic environment in which an entity operates and in each entity and all other currencies are defined as foreign currency.

Considering the above, the balances by currency mentioned in this Note correspond to the sum of foreign currency of each of the entities that make LATAM Airlines Group S.A. and Subsidiaries.

Following are the current exchange rates for the US dollar, on the dates indicated:

	As of December 31,
	2020		2019		2018		2017

Argentine peso		84.14		59.83		37.74		18.57
Brazilian real		5.18		4.01		3.87		3.31
Chilean peso		710.95		748.74		694.77		614.75
Colombian peso		3,421.00		3,271.55		3,239.45		2,984.77
Euro		0.81		0.89		0.87		0.83
Australian dollar		1.30		1.43		1.42		1.28
Boliviano		6.86		6.86		6.86		6.86
Mexican peso		19.93		18.89		19.68		19.66
New Zealand dollar		1.39		1.49		1.49		1.41
Peruvian Sol		3.62		3.31		3.37		3.24
Uruguayan peso		42.14		37.24		32.38		28.74

Foreign currency

The foreign currency detail of balances of monetary items in current and non-current assets is as follows:

	As of		As of
	December 31,		December 31,
Current assets	2020		2019
	ThUS$		ThUS$

Cash and cash equivalents		483,303		242,624
Argentine peso		16,885		10,974
Brazilian real		13,157		9,407
Chilean peso		32,368		50,421
Colombian peso		2,168		5,971
Euro		10,361		21,927
U.S. dollar		369,455		77,933
Other currency		38,909		65,991

Other financial assets, current		12,981		47,328
Argentine peso		311		7
Brazilian real		4		17,395
Chilean peso		3,987		26,008
Colombian peso		132		138
Euro		1,867		-
U.S. dollar		5,639		2,795
Other currency		1,041		985

	As of		As of
	December 31,		December 31,
Current assets	2020		2019
	ThUS$		ThUS$

Other non - financial assets, current		42,973		81,521
Argentine peso		11,058		11,263
Brazilian real		2,985		20,553
Chilean peso		15,913		24,451
Colombian peso		175		61
Euro		2,667		2,878
U.S. dollar		2,351		5,140
Other currency		7,824		17,175

Trade and other accounts receivable, current		177,491		501,006
Argentine peso		1,881		22,809
Brazilian real		841		1,457
Chilean peso		38,340		125,342
Colombian peso		209		545
Euro		24,370		32,711
U.S. dollar		98,385		257,421
Other currency		13,465		60,721

Accounts receivable from related entities, current		430		537
Chilean peso		9		42
U.S. dollar		421		495

Tax current assets		11,050		19,506
Argentine peso		389		1,560
Brazilian real		887		1,006
Chilean peso		1,003		1,111
Colombian peso		675		54
Euro		235		264
U.S. dollar		354		-
Peruvian sun		5,220		13,707
Other currency		2,287		1,804

Total current assets		728,228		892,522
Argentine peso		30,524		46,613
Brazilian real		17,874		49,818
Chilean peso		91,620		227,375
Colombian peso		3,359		6,769
Euro		39,500		57,780
U.S. Dollar		476,605		343,784
Other currency		68,746		160,383

	As of		As of
	December 31,		December 31,
Non-current assets	2020		2019
	ThUS$		ThUS$

Other financial assets, non-current		9,486		10,243
Brazilian real		3,574		4,441
Chilean peso		69		65
Colombian peso		284		296
Euro		1,369		1,525
U.S. dollar		2,490		2,169
Other currency		1,700		1,747

Other non - financial assets, non-current		36,251		29,166
Argentine peso		39		54
Brazilian real		12,974		7,891
U.S. dollar		3,732		3
Other currency		19,506		21,218

Accounts receivable, non-current		4,984		4,722
Chilean peso		4,984		4,722

Deferred tax assets		2,228		3,339
Colombian peso		221		487
U.S. dollar		13		856
Other currency		1,994		1,996

Total non-current assets		52,949		47,470
Argentine peso		39		54
Brazilian real		16,548		12,332
Chilean peso		5,053		4,787
Colombian peso		505		783
Euro		1,369		1,525
U.S. dollar		6,235		3,028
Other currency		23,200		24,961

The foreign currency detail of balances of monetary items in current liabilities and non-current is as follows:

	Up to 90 days					91 days to 1 year
	As of			As of		As of		As of
	December 31,			December 31,		December 31,		December 31,
Current liabilities	2020			2019		2020		2019
	ThUS$			ThUS$		ThUS$		ThUS$

Other financial liabilities, current		239,712			69,623		86,573		210,627
Argentine peso		2			1		-		2
Brazilian real		59			128		163		118
Chilean peso		40,552			42,625		70,639		15,229
Euro		87			145		258		339
U.S. dollar		198,996			26,676		15,504		194,896
Other currency		16			48		9		43

Trade and other accounts payables, current		1,285,233			1,338,123		20,908		10,091
Argentine peso		228,069			252,799		7,315		1,096
Brazilian real		71,446			59,837		37		320
Chilean peso		312,921			322,996		10,991		1,295
Colombian peso		12,300			2,558		1,165		868
Euro		143,780			113,733		41		484
U.S. dollar		392,914			480,129		912		4,263
Peruvian sol		11,759			24,197		222		1,447
Mexican peso		16,546			5,233		60		33
Pound sterling		35,269			20,289		45		119
Uruguayan peso		441			1,018		-		29
Other currency		59,788			55,334		120		137

Accounts payable to related entities, current		(229	)		53		-		-
Chilean peso		-			53		-		-
U.S. dollar		(229	)		-		-		-

Other provisions, current		14			2,079		1,628		-
Chilean peso		-			27		29		-
Other currency		14			2,052		1,599		-

	Up to 90 days				91 days to 1 year
	As of		As of		As of		As of
	December 31,		December 31,		December 31,		December 31,
Current liabilities	2020		2019		2020		2019
	ThUS$		ThUS$		ThUS$		ThUS$

Other non-financial liabilities, current		42,467		19,335		50		-
Argentine peso		961		348		-		-
Brazilian real		976		1,537		3		-
Chilean peso		5,836		705		1		-
Colombian peso		622		3,059		38		-
Euro		3,206		3,133		-		-
U.S. dollar		19,707		4,531		-		-
Other currency		11,159		6,022		8		-

Total current liabilities		1,567,596		1,429,213		109,159		220,718
Argentine peso		229,032		253,148		7,315		1,098
Brazilian real		72,481		61,502		203		438
Chilean peso		359,309		366,406		81,660		16,524
Colombian peso		12,922		5,617		1,203		868
Euro		147,073		117,011		299		823
U.S. dollar		611,787		511,336		16,416		199,159
Other currency		134,992		114,193		2,063		1,808

	More than 1 to 3 years				More than 3 to 5 years				More than 5 years
	As of		As of		As of		As of		As of		As of
	December 31,		December 31,		December 31,		December 31,		December 31,		December 31,
Non-current liabilities	2020		2019		2020		2019		2020		2019
	ThUS$		ThUS$		ThUS$		ThUS$		ThUS$		ThUS$

Other financial liabilities, non-current		268,320		366,889		4,250		12,915		403,841		376,535
Chilean peso		180,150		236,346		1,320		2,291		398,199		369,525
Brazillian real		351		700		-		40		-		-
Euro		427		550		-		141		-		-
U.S. dollar		87,280		128,820		2,930		10,308		5,642		7,010
Other currency		112		473		-		135		-		-

Accounts payable, non-current		70,145		151,254		1,390		-		241		-
Chilean peso		47,752		14,367		1,390		-		241		-
U.S. dollar		21,051		135,541		-		-		-		-
Other currency		1,342		1,346		-		-		-		-

Other provisions, non-current		45,834		36,615		-		-		-		-
Argentine peso		696		485		-		-		-		-
Brazillian real		26,872		20,538		-		-		-		-
Colombian peso		278		281		-		-		-		-
Euro		11,736		9,217		-		-		-		-
U.S. dollar		6,252		6,094		-		-		-		-

Provisions for employees benefits, non-current		64,152		80,628		-		-		-		-
Chilean peso		64,152		80,628		-		-		-		-
U.S. dollar		-		-		-		-		-		-

Total non-current liabilities		448,451		635,386		5,640		12,915		404,082		376,535
Argentine peso		696		485		-		-		-		-
Brazilian real		27,223		21,238		-		40		-		-
Chilean peso		292,054		331,341		2,710		2,291		398,440		369,525
Colombian peso		278		281		-		-		-		-
Euro		12,163		9,767		-		141		-		-
U.S. dollar		114,583		270,455		2,930		10,308		5,642		7,010
Other currency		1,454		1,819		-		135		-		-

	As of			As of
	December 31,			December 31,
General summary of foreign currency:	2020			2019
	ThUS$			ThUS$

Total assets		781,177			939,992
Argentine peso		30,563			46,667
Brazilian real		34,422			62,150
Chilean peso		96,673			232,162
Colombian peso		3,864			7,552
Euro		40,869			59,305
U.S. dollar		482,840			346,812
Other currency		91,946			185,344

Total liabilities		2,534,928			2,674,767
Argentine peso		237,043			254,731
Brazilian real		99,907			83,218
Chilean peso		1,134,173			1,086,087
Colombian peso		14,403			6,766
Euro		159,535			127,742
U.S. dollar		751,358			998,268
Other currency		138,509			117,955

Net position
Argentine peso		(206,480	)		(208,064	)
Brazilian real		(65,485	)		(21,068	)
Chilean peso		(1,037,500	)		(853,925	)
Colombian peso		(10,539	)		786
Euro		(118,666	)		(68,437	)
U.S. dollar		(268,518	)		(651,456	)
Other currency		(46,563	)		67,389