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STATEMENT OF CASH FLOWS

12 Months Ended

Dec. 31, 2020

NOTE 35 - STATEMENT OF CASH FLOWS

(a)

The Company has carried out non-monetary transactions mainly related to financial lease and lease liabilities, which are described in Note 19 Other financial liabilities.

(b)

Other inflows (outflows) of cash:

	For the year ended December 31,
	2020			2019			2018
	ThUS$			ThUS$			ThUS$
Delta Air Lines Inc. compensation (1)		62,000			350,000			-
Fuel hedge		(46,579	)		(9,966	)		77,234
Hedging margin guarantees		14,962			(21,200	)		1,573
Currency hedge		-			-			(1,282	)
Tax paid on bank transaction		(1,261	)		(11,369	)		318
Fuel derivatives premiums		(3,949	)		(17,102	)		(13,947	)
Bank commissions, taxes paid and other		(5,828	)		(20,627	)		(8,179	)
Guarantees		(44,279	)		(5,474	)		14,755
Court deposits		38,527			(22,976	)		(30,860	)
Total Other inflows (outflows) Operation flow		13,593			241,286			39,612
Tax paid on bank transaction		(2,192	)		(2,249	)		(2,476	)
Total Other inflows (outflows) Investment flow		(2,192	)		(2,249	)		(2,476	)
Settlement of derivative contracts		(107,788	)		(2,976	)		(11,675	)
Aircraft Financing advances		-			(55,728	)		55,728
Total Other inflows (outflows) Financing flow		(107,788	)		(58,704	)		44,053

(c)	Dividends:

	For the period ended December 31,
	2020			2019			2018
	ThUS$			ThUS$			ThUS$
Latam Airlines Group S.A.		-			(54,580	)		(46,591	)
Multiplus S.A. (*)		-			-			(26,029	)
Latam Airlines Perú S.A. (*)		(571	)		(536	)		-
Total dividends paid		(571	)		(55,116	)		(72,620	)

(*)

Dividends paid to minority shareholders

(d)

Reconciliation of liabilities arising from financing activities:

			Cash flows								Non cash-Flow Movements
	As of December 31,		Obtainment		Payment						Interest accrued						As of December 31,
Obligations with financial institutions	2019		Capital		Capital			Interest			and others (*)			Reclassifications			2020
	ThUS$		ThUS$		ThUS$			ThUS$			ThUS$			ThUS$			ThUS$

Loans to exporters		341,475		165,000		(359,000	)		(4,140	)		8,366			-			151,701
Bank loans		217,255		265,627		(4,870	)		(2,397	)		49,658			-			525,273
Guaranteed obligations		2,157,327		192,972		(48,576	)		(21,163	)		(823,984	)		(137,720	)		1,318,856
Other guaranteed obligations		580,432		1,361,881		(42,721	)		(27,744	)		67,268			-			1,939,116
Obligation with the public		2,064,934		-		(774	)		(55,613	)		174,860			-			2,183,407
Financial leases		1,730,843		-		(236,744	)		(52,155	)		34,837			137,720			1,614,501
Other loans		101,261		-		(101,026	)		(1,151	)		916			-			-
Lease liability		3,172,157		-		(122,063	)		(46,055	)		116,967			-			3,121,006
Total Obligations with financial institutions		10,365,684		1,985,480		(915,774	)		(210,418	)		(371,112	)		-			10,853,860

			Cash flows								Non cash-Flow Movements
Obligations with	As of December 31,		Obtainment		Payment						Interest accrued					As of December 31,
financial institutions	2018		Capital		Capital			Interest			and others		Reclassifications			2019
	ThUS$		ThUS$		ThUS$			ThUS$			ThUS$		ThUS$			ThUS$

Loans to exporters		400,721		93,000		(145,505	)		(12,934	)		6,193		-			341,475
Bank loans		222,741		164,095		(165,549	)		(11,352	)		7,320		-			217,255
Guaranteed obligations		2,534,021		607,797		(282,721	)		(93,335	)		93,286		(701,721	)		2,157,327
Other guaranteed obligations		673,452		-		(92,549	)		(28,417	)		27,946		-			580,432
Obligation with the public		1,553,079		1,009,836		(487,086	)		(144,932	)		134,037		-			2,064,934
Financial leases		1,624,854		-		(591,861	)		(72,311	)		68,440		701,721			1,730,843
Other loans		252,858		27,864		(178,777	)		(9,648	)		8,964		-			101,261
Lease liability		2,858,049		-		(398,992	)		(177,948	)		891,048		-			3,172,157
Total Obligations with financial institutions		10,119,775		1,902,592		(2,343,040	)		(550,877	)		1,237,234		-			10,365,684

(*)

Accrued interest and others, includes ThUS$ (891,407), associated with the rejection of fleet contracts. This amount includes ThUS$ (886,895) of Other secured obligations and ThUS$ (4,512) of financial leases.

(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,
	2020			2019
	ThUS$			ThUS$

Increases (payments)		(31,803	)		(86,288	)
Recoveries		8,157			349,702
Total cash flows		(23,646	)		263,414

(f)

Additions of property, plant and equipment and Intangibles

	For the year ended At December 31,
	2020		2019		2018
	ThUS$		ThUS$		ThUS$
Net cash flows from
Purchases of property, plant and equipment		324,264		1,276,621		660,707
Additions associated with maintenance		173,740		453,827		375,634
Other additions		150,524		822,794		285,073
Purchases of intangible assets		75,433		140,173		96,206
Other additions		75,433		140,173		96,206

(g)

The net effect of the application of hyperinflation in the consolidated cash flow statement for the periods ended December 31 corresponds to:

	For the year ended December 31,
	2020			2019
	ThUS$			ThUS$

Net cash flows from (used in) operating activities		18,347			118,797
Net cash flows from (used in) investment activities		(13,872	)		64,516
Net cash flows from (used in) financing activities		-			(56,866	)
Effects of variation in the exchange rate on cash and cash equivalents		(4,475	)		(126,447	)
Net increase (decrease) in cash and cash equivalents		-			-