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INVENTORIES

12 Months Ended

Dec. 31, 2021

INVENTORIES [Abstract]

NOTE 10 - INVENTORIES

The composition of Inventories is as follows:

		As of				As of
		December 31,				December 31,
		2021				2020
		ThUS$				ThUS$
Technical stock			250,327				284,409
Non-technical stock			37,010				39,165
Total			287,337				323,574

The items included in this item correspond to spare parts and materials which will be used, mainly, in consumptions of on-board services and in own and third-party maintenance services; These are valued at their average acquisition cost net of their obsolescence provision according to the following detail:

		As of				As of
		December 31,				December 31,
		2021				2020
		ThUS$				ThUS$
Provision for obsolescence Technical stock			64,455				42,979
Provision for obsolescence Non-technical stock			5,785				4,651
Total			70,240				47,630

The resulting amounts do not exceed the respective net realization values.

As of December 31, 2021, the Company registered ThUS$ 47,362 (ThUS$ 55,507 as of December 31, 2020) in results, mainly related to on-board consumption and maintenance, which is part of the Cost of sales.