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STATEMENT OF CASH FLOWS | 12 Months Ended
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Dec. 31, 2021
STATEMENT OF CASH FLOWS [Abstract] |
STATEMENT OF CASH FLOWS | 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, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Fuel hedge |  |  | 14,269 |  |  |  | (46,579 | ) |  |  | (9,966 | )
Hedging margin guarantees |  |  | (4,900 | ) |  |  | 14,962 |  |  |  | (21,200 | )
Tax paid on bank transaction |  |  | (2,530 | ) |  |  | (1,261 | ) |  |  | (11,369 | )
Fuel derivatives premiums |  |  | (17,077 | ) |  |  | (3,949 | ) |  |  | (17,102 | )
Bank commissions, taxes paid and other |  |  | (21,287 | ) |  |  | (5,828 | ) |  |  | (20,627 | )
Guarantees |  |  | (39,728 | ) |  |  | (44,280 | ) |  |  | (5,474 | )
Court deposits |  |  | (16,323 | ) |  |  | 38,528 |  |  |  | (22,976 | )
Delta Air Lines Inc. Compensation |  |  | - |  |  |  | 62,000 |  |  |  | 350,000 |
Total Other inflows (outflows) Operation flow |  |  | (87,576 | ) |  |  | 13,593 |  |  |  | 241,286 |
Tax paid on bank transaction |  |  | (425 | ) |  |  | (2,192 | ) |  |  | (2,249 | )
Guarantee deposit received from the sale of aircraft |  |  | 18,900 |  |  |  | - |  |  |  | - |
Total Other inflows (outflows) Investment flow |  |  | 18,475 |  |  |  | (2,192 | ) |  |  | (2,249 | )
Settlement of derivative contracts |  |  | - |  |  |  | (107,788 | ) |  |  | (2,976 | )
Aircraft Financing advances |  |  | - |  |  |  | - |  |  |  | (55,728 | )
Fees paid to financial institutions |  |  | (11,034 | ) |  |  | - |  |  |  | - |
Total Other inflows (outflows) Financing flow |  |  | (11,034 | ) |  |  | (107,788 | ) |  |  | (58,704 | )
| (c) | Dividends:
|  | For the period ended |
|  | December 31, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Latam Airlines Group S.A. |  |  | - |  |  |  | - |  |  |  | (54,580 | )
Latam Airlines Perú S.A. (*) |  |  | - |  |  |  | (571 | ) |  |  | (536 | )
Total dividends paid |  |  | - |  |  |  | (571 | ) |  |  | (55,116 | )
| (*) | Dividends paid to non-controlling shareholders
| (d) | Reconciliation of liabilities arising from financing activities:
|  | As of |  |  | Cash flows |  |  | Non cash-Flow Movements |  |  | As of |
Obligations with |  | December 31, |  |  | Obtainment |  |  | Payment |  |  | Interest accrued |  |  |  |  |  | December 31, |
financial institutions |  | 2020 |  |  | Capital |  |  | Capital |  |  | Interest |  |  | and others (*) |  |  | Reclassifications |  |  | 2021 |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Loans to exporters |  |  | 151,701 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 7,460 |  |  |  | - |  |  |  | 159,161 |
Bank loans |  |  | 525,273 |  |  |  | - |  |  |  | - |  |  |  | (546 | ) |  |  | (2,889 | ) |  |  | - |  |  |  | 521,838 |
Guaranteed obligations |  |  | 1,318,856 |  |  |  | - |  |  |  | (14,605 | ) |  |  | (17,405 | ) |  |  | (513,276 | ) |  |  | (263,035 | ) |  |  | 510,535 |
Other guaranteed obligations |  |  | 1,939,116 |  |  |  | 661,609 |  |  |  | (26,991 | ) |  |  | (28,510 | ) |  |  | 135,405 |  |  |  | 44,793 |  |  |  | 2,725,422 |
Obligation with the public |  |  | 2,183,407 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 69,791 |  |  |  | - |  |  |  | 2,253,198 |
Financial leases |  |  | 1,614,501 |  |  |  | - |  |  |  | (421,452 | ) |  |  | (40,392 | ) |  |  | (181,717 | ) |  |  | 218,242 |  |  |  | 1,189,182 |
Other loans |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 76,508 |  |  |  | - |  |  |  | 76,508 |
Lease liability |  |  | 3,121,006 |  |  |  | - |  |  |  | (103,366 | ) |  |  | (17,768 | ) |  |  | (39,234 | ) |  |  | - |  |  |  | 2,960,638 |
Total Obligations with financial institutions |  |  | 10,853,860 |  |  |  | 661,609 |  |  |  | (566,414 | ) |  |  | (104,621 | ) |  |  | (447,952 | ) |  |  | - |  |  |  | 10,396,482 |
|  | As of |  |  | Cash flows |  |  | Non cash-Flow Movements |  |  | As of |
Obligations with |  | December 31, |  |  | Obtainment |  |  | Payment |  |  | Interest accrued |  |  |  |  |  | December 31, |
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 |
| (*) | Accrued interest and others, includes ThUS$ 458,642 (ThUS$ (891,407) as of December 31, 2020), associated with the rejection of fleet contracts.
| (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, |
|  | 2021 |  |  | 2020 |
|  | ThUS$ |  |  | ThUS$ |
Increases (payments) |  |  | - |  |  |  | (31,803 | )
Recoveries |  |  | - |  |  |  | 8,157 |
Total cash flows |  |  | - |  |  |  | (23,646 | )
| (f) | Additions of property, plant and equipment and Intangibles
|  | For the year ended |
|  | At December 31, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Net cash flows from |  |  |  |  |  |  |  |  |
Purchases of property, plant and equipment |  |  | 587,245 |  |  |  | 324,264 |  |  |  | 1,276,621 |
Additions associated with maintenance |  |  | 302,858 |  |  |  | 173,740 |  |  |  | 453,827 |
Other additions |  |  | 284,387 |  |  |  | 150,524 |  |  |  | 822,794 |
Purchases of intangible assets |  |  | 88,518 |  |  |  | 75,433 |  |  |  | 140,173 |
Other additions |  |  | 88,518 |  |  |  | 75,433 |  |  |  | 140,173 |
| (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, |
|  | 2021 |  |  | 2020 |
|  | ThUS$ |  |  | ThUS$ |
Net cash flows from (used in) operating activities |  |  | (65,901 | ) |  |  | 18,347 |
Net cash flows from (used in) investment activities |  |  | 17,223 |  |  |  | (13,872 | )
Net cash flows from (used in) financing activities |  |  | - |  |  |  | - |
Effects of variation in the exchange rate on cash and cash equivalents |  |  | 48,678 |  |  |  | (4,475 | )
Net increase (decrease) in cash and cash equivalents |  |  | - |  |  |  | - |

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