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PROPERTY, PLANT AND EQUIPMENT (Tables) | 12 Months Ended
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Dec. 31, 2022
Disclosure Of Property Plant And Equipment Text Block Abstract |
Schedule of composition of property, plant and equipment |
|  | Gross Book Value |  |  | Accumulated depreciation |  |  | Net Book Value |
|  | As of |  |  | As of |  |  | As of |  |  | As of |  |  | As of |  |  | As of |
|  | December 31, |  |  | December 31, |  |  | December 31, |  |  | December 31, |  |  | December 31, |  |  | December 31, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
a) Property, plant and equipment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction in progress (1) |  |  | 388,810 |  |  |  | 473,797 |  |  |  | - |  |  |  | - |  |  |  | 388,810 |  |  |  | 473,797 |
Land |  |  | 44,349 |  |  |  | 43,276 |  |  |  | - |  |  |  | - |  |  |  | 44,349 |  |  |  | 43,276 |
Buildings |  |  | 124,507 |  |  |  | 121,972 |  |  |  | (55,511 | ) |  |  | (61,521 | ) |  |  | 68,996 |  |  |  | 60,451 |
Plant and equipment |  |  | 11,135,425 |  |  |  | 11,024,722 |  |  |  | (4,836,926 | ) |  |  | (4,462,706 | ) |  |  | 6,298,499 |  |  |  | 6,562,016 |
Own aircraft (3) (4) |  |  | 10,427,950 |  |  |  | 10,377,850 |  |  |  | (4,619,279 | ) |  |  | (4,237,585 | ) |  |  | 5,808,671 |  |  |  | 6,140,265 |
Other (2) |  |  | 707,475 |  |  |  | 646,872 |  |  |  | (217,647 | ) |  |  | (225,121 | ) |  |  | 489,828 |  |  |  | 421,751 |
Machinery |  |  | 27,090 |  |  |  | 25,764 |  |  |  | (25,479 | ) |  |  | (23,501 | ) |  |  | 1,611 |  |  |  | 2,263 |
Information technology equipment |  |  | 153,355 |  |  |  | 146,986 |  |  |  | (136,746 | ) |  |  | (130,150 | ) |  |  | 16,609 |  |  |  | 16,836 |
Fixed installations and accessories |  |  | 155,351 |  |  |  | 147,402 |  |  |  | (118,279 | ) |  |  | (108,661 | ) |  |  | 37,072 |  |  |  | 38,741 |
Motor vehicles |  |  | 51,504 |  |  |  | 49,186 |  |  |  | (46,343 | ) |  |  | (44,423 | ) |  |  | 5,161 |  |  |  | 4,763 |
Leasehold improvements |  |  | 202,753 |  |  |  | 248,733 |  |  |  | (42,726 | ) |  |  | (115,758 | ) |  |  | 160,027 |  |  |  | 132,975 |
Subtotal Properties, plant and equipment |  |  | 12,283,144 |  |  |  | 12,281,838 |  |  |  | (5,262,010 | ) |  |  | (4,946,720 | ) |  |  | 7,021,134 |  |  |  | 7,335,118 |
b) Right of use |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Aircraft (3) |  |  | 4,391,690 |  |  |  | 5,211,153 |  |  |  | (3,064,869 | ) |  |  | (3,109,411 | ) |  |  | 1,326,821 |  |  |  | 2,101,742 |
Other assets |  |  | 246,078 |  |  |  | 243,014 |  |  |  | (182,372 | ) |  |  | (190,007 | ) |  |  | 63,706 |  |  |  | 53,007 |
Subtotal Right of use |  |  | 4,637,768 |  |  |  | 5,454,167 |  |  |  | (3,247,241 | ) |  |  | (3,299,418 | ) |  |  | 1,390,527 |  |  |  | 2,154,749 |
Total |  |  | 16,920,912 |  |  |  | 17,736,005 |  |  |  | (8,509,251 | ) |  |  | (8,246,138 | ) |  |  | 8,411,661 |  |  |  | 9,489,867 |
| (1) | As of December 31, 2022, includes advances paid to aircraft manufacturers for ThUS$ 357,979 (ThUS$ 368,625 as of December 31, 2021)
| (2) | Consider mainly rotables and tools.
| (3) | As of December 31, 2021, due to Chapter 11, 13 aircraft lease contract were rejected, of which 4 were recorded as Property, plant and equipment, (4 A350) and 9 were presented as right of use assets, (2 A320 and 7 A350).
| (4) | During 2022, six A320 and twenty-eight A319 aircraft were reclassified to Non-current assets or groups of assets for disposal as held for sale.
Schedule of movement of property, plant and equipment |
|  |  |  |  |  |  |  |  |  |  |  |  |  | Information |  |  | Fixed |  |  |  |  |  |  |  |  | Property, |
|  |  |  |  |  |  |  |  |  |  | Plant and |  |  | technology |  |  | installations |  |  | Motor |  |  | Leasehold |  |  | Plant and |
|  | Construction |  |  |  |  |  | Buildings |  |  | equipment |  |  | equipment |  |  | & accessories |  |  | vehicles |  |  | improvements |  |  | equipment |
|  | in progress |  |  | Land |  |  | net |  |  | net |  |  | net |  |  | net |  |  | net |  |  | net |  |  | net |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Opening balance as of January 1, 2020 |  |  | 372,589 |  |  |  | 48,406 |  |  |  | 74,862 |  |  |  | 9,374,516 |  |  |  | 20,776 |  |  |  | 59,834 |  |  |  | 477 |  |  |  | 98,460 |  |  |  | 10,049,920 |
Additions |  |  | 6,535 |  |  |  | - |  |  |  | - |  |  |  | 485,800 |  |  |  | 1,295 |  |  |  | 9 |  |  |  | - |  |  |  | - |  |  |  | 493,639 |
Disposals |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (1,439 | ) |  |  | (112 | ) |  |  | (31 | ) |  |  | (4 | ) |  |  | - |  |  |  | (1,586 | )
Rejection fleet |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (1,081,496 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (82 | ) |  |  | (1,081,578 | )
Retirements |  |  | (39 | ) |  |  | - |  |  |  | - |  |  |  | (107,912 | ) |  |  | (55 | ) |  |  | (3,250 | ) |  |  | - |  |  |  | - |  |  |  | (111,256 | )
Depreciation expenses |  |  | - |  |  |  | - |  |  |  | (4,819 | ) |  |  | (682,102 | ) |  |  | (6,186 | ) |  |  | (9,037 | ) |  |  | (81 | ) |  |  | (16,542 | ) |  |  | (718,767 | )
Foreign exchange |  |  | (2,601 | ) |  |  | (5,428 | ) |  |  | (4,836 | ) |  |  | (146,219 | ) |  |  | (1,543 | ) |  |  | (7,195 | ) |  |  | 4 |  |  |  | (2,587 | ) |  |  | (170,405 | )
Other increases (decreases) |  |  | 1,477 |  |  |  | - |  |  |  | - |  |  |  | (142,179 | ) |  |  | 656 |  |  |  | 8,869 |  |  |  | - |  |  |  | (4,841 | ) |  |  | (136,018 | )
Changes, total |  |  | 5,372 |  |  |  | (5,428 | ) |  |  | (9,655 | ) |  |  | (1,675,547 | ) |  |  | (5,945 | ) |  |  | (10,635 | ) |  |  | (81 | ) |  |  | (24,052 | ) |  |  | (1,725,971 | )
Closing balance as of December 31, 2020 |  |  | 377,961 |  |  |  | 42,978 |  |  |  | 65,207 |  |  |  | 7,698,969 |  |  |  | 14,831 |  |  |  | 49,199 |  |  |  | 396 |  |  |  | 74,408 |  |  |  | 8,323,949 |
Opening balance as of January 1, 2021 |  |  | 377,961 |  |  |  | 42,978 |  |  |  | 65,207 |  |  |  | 7,698,969 |  |  |  | 14,831 |  |  |  | 49,199 |  |  |  | 396 |  |  |  | 74,408 |  |  |  | 8,323,949 |
Additions |  |  | 84,392 |  |  |  | 1,550 |  |  |  | 92 |  |  |  | 563,023 |  |  |  | 6,455 |  |  |  | 6 |  |  |  | 17 |  |  |  | 6,543 |  |  |  | 662,078 |
Disposals |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (169 | ) |  |  | (26 | ) |  |  | (309 | ) |  |  | (17 | ) |  |  | - |  |  |  | (521 | )
Rejection fleet (*) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (469,878 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (46,816 | ) |  |  | (516,694 | )
Retirements |  |  | (279 | ) |  |  | - |  |  |  | - |  |  |  | (44,684 | ) |  |  | (212 | ) |  |  | (1,885 | ) |  |  | - |  |  |  | (26 | ) |  |  | (47,086 | )
Depreciation expenses |  |  | - |  |  |  | - |  |  |  | (4,074 | ) |  |  | (620,349 | ) |  |  | (4,345 | ) |  |  | (8,304 | ) |  |  | (61 | ) |  |  | (11,649 | ) |  |  | (648,782 | )
Foreign exchange |  |  | (1,720 | ) |  |  | (1,252 | ) |  |  | (833 | ) |  |  | (19,199 | ) |  |  | (404 | ) |  |  | (1,752 | ) |  |  | (11 | ) |  |  | (13,074 | ) |  |  | (38,245 | )
Other increases (decreases) (**) |  |  | 13,443 |  |  |  | - |  |  |  | 59 |  |  |  | (538,996 | ) |  |  | 537 |  |  |  | 1,786 |  |  |  | 1 |  |  |  | 123,589 |  |  |  | (399,581 | )
Changes, total |  |  | 95,836 |  |  |  | 298 |  |  |  | (4,756 | ) |  |  | (1,130,252 | ) |  |  | 2,005 |  |  |  | (10,458 | ) |  |  | (71 | ) |  |  | 58,567 |  |  |  | (988,831 | )
Closing balance as of December 31, 2021 |  |  | 473,797 |  |  |  | 43,276 |  |  |  | 60,451 |  |  |  | 6,568,717 |  |  |  | 16,836 |  |  |  | 38,741 |  |  |  | 325 |  |  |  | 132,975 |  |  |  | 7,335,118 |
Opening balance as of January 1, 2022 |  |  | 473,797 |  |  |  | 43,276 |  |  |  | 60,451 |  |  |  | 6,568,717 |  |  |  | 16,836 |  |  |  | 38,741 |  |  |  | 325 |  |  |  | 132,975 |  |  |  | 7,335,118 |
Additions |  |  | 16,332 |  |  |  | - |  |  |  | - |  |  |  | 843,808 |  |  |  | 6,426 |  |  |  | 113 |  |  |  | 258 |  |  |  | 27,160 |  |  |  | 894,097 |
Disposals |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (4,140 | ) |  |  | - |  |  |  | (264 | ) |  |  | (3 | ) |  |  | - |  |  |  | (4,407 | )
Withdrawals |  |  | (75 | ) |  |  | - |  |  |  | (2 | ) |  |  | (42,055 | ) |  |  | (24 | ) |  |  | (836 | ) |  |  | - |  |  |  | (313 | ) |  |  | (43,305 | )
Retirements |  |  | - |  |  |  | - |  |  |  | (3,285 | ) |  |  | (669,059 | ) |  |  | (5,662 | ) |  |  | (7,914 | ) |  |  | (55 | ) |  |  | (13,071 | ) |  |  | (699,046 | )
Depreciation expenses |  |  | (1,282 | ) |  |  | 1,073 |  |  |  | 918 |  |  |  | 11,527 |  |  |  | (84 | ) |  |  | 2,365 |  |  |  | (28 | ) |  |  | 7,593 |  |  |  | 22,082 |
Foreing exchange |  |  | (99,962 | ) |  |  | - |  |  |  | 10,914 |  |  |  | (403,950 | ) |  |  | (883 | ) |  |  | 4,867 |  |  |  | (74 | ) |  |  | 5,683 |  |  |  | (483,405 | )
Other increases (decreases) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Changes, total |  |  | (84,987 | ) |  |  | 1,073 |  |  |  | 8,545 |  |  |  | (263,869 | ) |  |  | (227 | ) |  |  | (1,669 | ) |  |  | 98 |  |  |  | 27,052 |  |  |  | (313,984 | )
Closing balance as of December 31, 2022 |  |  | 388,810 |  |  |  | 44,349 |  |  |  | 68,996 |  |  |  | 6,304,848 |  |  |  | 16,609 |  |  |  | 37,072 |  |  |  | 423 |  |  |  | 160,027 |  |  |  | 7,021,134 |
(*) | Include aircraft lease rejection due to Chapter 11.
(**) | As of December 31, 2022, six A320 ThUS$ (29,328) and twenty-eight A319 ThUS$ (373,410) aircraft were reclassified to Non-current assets or groups of assets for disposal as held for sale. As of December 31, 2021, it includes the lease contract amendment of two B787 aircraft ThUS$ (397,569) and six A320N aircraft ThUS$ (284,952) (see note 13).
Schedule of right of use assets |
|  |  |  |  |  |  |  | Net right |
|  |  |  |  |  |  |  | of use |
|  | Aircraft |  |  | Others |  |  | assets |
|  | ThUS $ |  |  | ThUS $ |  |  | ThUS $ |
Opening balances as of January 1, 2020 |  |  | 2,768,540 |  |  |  | 101,158 |  |  |  | 2,869,698 |
Additions |  |  | - |  |  |  | 399 |  |  |  | 399 |
Fleet rejection (*) |  |  | (9,090 | ) |  |  | - |  |  |  | (9,090 | )
Depreciation expense |  |  | (395,936 | ) |  |  | (22,492 | ) |  |  | (418,428 | )
Cumulative translate adjustment |  |  | (6,578 | ) |  |  | (11,173 | ) |  |  | (17,751 | )
Other increases (decreases) |  |  | (18,894 | ) |  |  | 385 |  |  |  | (18,509 | )
Total changes |  |  | (430,498 | ) |  |  | (32,881 | ) |  |  | (463,379 | )
Final balances as of December 31, 2020 |  |  | 2,338,042 |  |  |  | 68,277 |  |  |  | 2,406,319 |
Opening balances as of January 1, 2021 |  |  | 2,338,042 |  |  |  | 68,277 |  |  |  | 2,406,319 |
Additions |  |  | 537,995 |  |  |  | 1,406 |  |  |  | 539,401 |
Fleet rejection (*) |  |  | (573,047 | ) |  |  | (4,577 | ) |  |  | (577,624 | )
Depreciation expense |  |  | (317,616 | ) |  |  | (16,597 | ) |  |  | (334,213 | )
Cumulative translate adjustment |  |  | (574 | ) |  |  | (1,933 | ) |  |  | (2,507 | )
Other increases (decreases) (**) |  |  | 116,942 |  |  |  | 6,431 |  |  |  | 123,373 |
Total changes |  |  | (236,300 | ) |  |  | (15,270 | ) |  |  | (251,570 | )
Final balances as of December 31, 2021 |  |  | 2,101,742 |  |  |  | 53,007 |  |  |  | 2,154,749 |
Opening balances as of January 1, 2022 |  |  | 2,101,742 |  |  |  | 53,007 |  |  |  | 2,154,749 |
Additions |  |  | 372,571 |  |  |  | 13,087 |  |  |  | 385,658 |
Depreciation expense |  |  | (249,802 | ) |  |  | (16,368 | ) |  |  | (266,170 | )
Cumulative translate adjustment |  |  | 919 |  |  |  | 1,392 |  |  |  | 2,311 |
Other increases (decreases) (***) |  |  | (898,609 | ) |  |  | 12,588 |  |  |  | (886,021 | )
Total changes |  |  | (774,921 | ) |  |  | 10,699 |  |  |  | (764,222 | )
Final balances as of December 31, 2022 |  |  | 1,326,821 |  |  |  | 63,706 |  |  |  | 1,390,527 |
| (*) | Include aircraft lease rejection due to Chapter 11.
| (**) | Includes the renegotiations of 92 aircraft (1 A319, 37 A320, 12 A320N, 19 A321, 1 B767, 6 B777 and 16 B787).
| (***) | Include the renegotiations of 115 aircraft (1 A319, 39 A320, 14 A320N, 30 A321, 1 B767, 6 B777 and 24 B787).
Schedule of renegotiations aircraft |
|  |  |  | Aircraft included in Property, plant and equipment |  |  | Aircraft included as Rights of use assets |  |  | Total fleet |
|  |  |  | As of |  |  | As of |  |  | As of |  |  | As of |  |  | As of |  |  | As of |
|  |  |  | December 31, |  |  | December 31, |  |  | December 31, |  |  | December 31, |  |  | December 31, |  |  | December 31, |
Aircraft |  | Model |  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Boeing 767 |  | 300ER |  |  | 15 |  |  |  | 16 |  |  |  | - |  |  |  | - |  |  |  | 15 |  |  |  | 16 |
Boeing 767 |  | 300F |  |  | 13 |  |  |  | 12 | (1) |  |  | 1 |  |  |  | 1 |  |  |  | 14 |  |  |  | 13 | (1)
Boeing 777 |  | 300ER |  |  | 4 |  |  |  | 4 |  |  |  | 6 |  |  |  | 6 |  |  |  | 10 |  |  |  | 10 |
Boeing 787 |  | 800 |  |  | 4 |  |  |  | 4 |  |  |  | 6 |  |  |  | 6 |  |  |  | 10 |  |  |  | 10 |
Boeing 787 |  | 900 |  |  | 2 |  |  |  | 2 |  |  |  | 19 |  |  |  | 15 |  |  |  | 21 |  |  |  | 17 |
Airbus A319 |  | 100 |  |  | 12 | (3) |  |  | 37 |  |  |  | 1 |  |  |  | 7 |  |  |  | 13 |  |  |  | 44 |
Airbus A320 |  | 200 |  |  | 88 |  |  |  | 94 |  |  |  | 40 | (2) |  |  | 39 |  |  |  | 128 | (2) |  |  | 133 |
Airbus A320 |  | NEO |  |  | 1 |  |  |  | - |  |  |  | 15 |  |  |  | 12 |  |  |  | 16 |  |  |  | 12 |
Airbus A321 |  | 200 |  |  | 19 |  |  |  | 18 |  |  |  | 30 |  |  |  | 31 |  |  |  | 49 |  |  |  | 49 |
Total |  |  |  |  | 158 |  |  |  | 187 |  |  |  | 118 |  |  |  | 117 |  |  |  | 276 |  |  |  | 304 |
(1) | An aircraft leased to Aerotransportes Mas de Carga S.A. de C.V, was returned to LATAM Airlines Group S.A. in 2022.
(2) | An aircraft with a short-term operating lease is not considered value for right of use.
(3) | Twenty-eight A319 aircraft were classified under non-current assets or groups of assets for disposal as held for sale, (see Note 13)
Schedule of method used for the depreciation of property, plant and equipment |
|  |  |  | Useful life (years) |
|  | Method |  | minimum |  |  | maximum |
Buildings |  | Straight line without residual value |  |  | 20 |  |  |  | 50 |
Plant and equipment |  | Straight line with residual value of 20% in the short-haul fleet and 36% in the long-haul fleet. (*) |  |  | 5 |  |  |  | 30 |
Information technology equipment |  | Straight line without residual value |  |  | 5 |  |  |  | 10 |
Fixed installations and accessories |  | Straight line without residual value |  |  | 10 |  |  |  | 10 |
Motor vehicle |  | Straight line without residual value |  |  | 10 |  |  |  | 10 |
Leasehold improvements |  | Straight line without residual value |  |  | 5 |  |  |  | 8 |
Assets for rights of use |  | Straight line without residual value |  |  | 1 |  |  |  | 25 |
(*) | Except in the case of the Boeing 767 300ER, Airbus 320 Family and Boeing 767 300F fleets that consider a lower residual value, due to the extension of their useful life to 22, 25 and 30 years respectively. Additionally, certain technical components are depreciated based on cycles and hours flown.
Schedule of property, plant and equipment pledged as guarantee |
|  |  |  |  |  |  |  |  | As of |  |  | As of |
|  |  |  |  |  |  |  |  | Deceember 31, |  |  | December 31, |
|  |  |  |  |  |  |  |  | 2022 |  |  | 2021 |
Guarantee agent (1) |  | Creditor company |  | Committed Assets |  | Fleet |  |  | Existing Debt |  |  | Book Value |  |  | Existing Debt |  |  | Book Value |
|  |  |  |  |  |  |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Wilmington |  | MUFG |  | Aircraft and engines |  | Airbus A319 |  |  |  | 4,554 |  |  |  | 13,205 |  |  |  | 58,611 |  |  |  | 259,036 |
Trust Company |  |  |  |  |  | Airbus A320 |  |  |  | 33,154 |  |  |  | 203,788 |  |  |  | 51,543 |  |  |  | 227,604 |
|  |  |  |  |  | Boeing 767 |  |  |  | 35,043 |  |  |  | 164,448 |  |  |  | 46,779 |  |  |  | 168,315 |
|  |  |  |  |  | Boeing 777 |  |  |  | 141,605 |  |  |  | 144,065 |  |  |  | 144,358 |  |  |  | 141,620 |
Credit Agricole |  | Credit Agricole |  | Aircraft and engines |  | Airbus A319 |  |  |  | 3,518 |  |  |  | 5,311 |  |  |  | 1,073 |  |  |  | 6,419 |
|  |  |  |  |  | Airbus A320 |  |  |  | 195,864 |  |  |  | 161,397 |  |  |  | 139,192 |  |  |  | 117,130 |
|  |  |  |  |  | Airbus A321 / A350 |  |  |  | 6,192 |  |  |  | 4,827 |  |  |  | 30,733 |  |  |  | 27,427 |
|  |  |  |  |  | Boeing 767 |  |  |  | 9,121 |  |  |  | 23,323 |  |  |  | 10,404 |  |  |  | 30,958 |
|  |  |  |  |  | Boeing 787 |  |  |  | 60,305 |  |  |  | 34,077 |  |  |  | 91,797 |  |  |  | 38,551 |
Bank Of Utah |  | BNP Paribas |  | Aircraft and engines |  | Boeing 787 |  |  |  | 184,199 |  |  |  | 221,311 |  |  |  | 198,475 |  |  |  | 233,501 |
Citibank N.A. |  | Citibank N.A. |  | Aircraft and engines |  | Airbus A319 |  |  |  | - |  |  |  | - |  |  |  | 27,936 |  |  |  | 45,849 |
|  |  |  |  |  | Airbus A320 |  |  |  | - |  |  |  | - |  |  |  | 128,030 |  |  |  | 181,224 |
|  |  |  |  |  | Airbus A321 |  |  |  | - |  |  |  | - |  |  |  | 41,599 |  |  |  | 75,092 |
|  |  |  |  |  | Airbus A350 |  |  |  | - |  |  |  | - |  |  |  | 15,960 |  |  |  | 26,507 |
|  |  |  |  |  | Airbus B767 |  |  |  | - |  |  |  | - |  |  |  | 90,846 |  |  |  | 181,246 |
|  |  |  |  |  | Airbus B787 |  |  |  | - |  |  |  | - |  |  |  | 23,156 |  |  |  | 17,036 |
|  |  |  |  |  | Rotables |  |  |  | - |  |  |  | - |  |  |  | 162,477 |  |  |  | 134,846 |
UMB Bank |  | MUFG |  | Aircraft and engines |  | Airbus A320 |  |  |  | - |  |  |  | - |  |  |  | 166,712 |  |  |  | 258,875 |
Total direct guarantee |  |  |  |  |  |  |  |  |  | 673,555 |  |  |  | 975,752 |  |  |  | 1,429,681 |  |  |  | 2,171,236 |
(1) | For the syndicated loans, the Guarantee Agent represents different creditors.
Schedule of letters of credit related assets |
Creditor Guarantee |  | Debtor |  | Type |  | Value ThUS$ |  |  | Release date |
GE Capital Aviation Services Ltd. |  | LATAM Airlines Group S.A. |  | Three letters of credit |  |  | 12,198 |  |  |  | Dec 6, 2023 |
Merlin Aviation Leasing (Ireland) 18 Limited RB Comercial Properties 49 |  | Tam Linhas Aéreas S.A. |  | Two letters of credit |  |  | 3,852 |  |  |  | Mar 15, 2023 |
Empreendimentos Imobiliarios LTDA |  | Tam Linhas Aéreas S.A. |  | One letter of credit |  |  | 27,091 |  |  |  | Apr 20, 2023 |
|  |  |  |  |  |  | 43,141 |  |  |  |  |
Schedule of fully depreciated assets and commitments for future purchases |
|  | As of December 31, 2022 |  |  | As of December 31, 2021 |
|  | ThUS$ |  |  | ThUS$ |
Gross book value of fully depreciated property, plant and equipment still in use |  |  | 266,896 |  |  |  | 223,608 |
Commitments for the acquisition of aircraft (*) |  |  | 13,186,000 |  |  |  | 10,800,000 |
(*) | According to the manufacturer’s price list.
Schedule of purchase commitment |
|  | Year of delivery |
Manufacturer |  | 2023 |  |  | 2024 |  |  | 2025 |  |  | 2026-2029 |  |  | Total |
Airbus S.A.S. |  |  | 8 |  |  |  | 8 |  |  |  | 11 |  |  |  | 56 |  |  |  | 83 |
A320-NEO Family |  |  | 8 |  |  |  | 8 |  |  |  | 11 |  |  |  | 56 |  |  |  | 83 |
The Boeing Company |  |  | 2 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 2 |
Boeing 787-9 |  |  | 2 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 2 |
Total |  |  | 10 |  |  |  | 8 |  |  |  | 11 |  |  |  | 56 |  |  |  | 85 |
Schedule of capitalized interest costs |
|  |  |  |  | For the period ended December 31, |
|  |  |  |  | 2022 |  |  | 2021 |  |  | 2020 |
Average rate of capitalization of capitalized interest costs |  |  | % |  |  |  | 7.12 |  |  |  | 5.06 |  |  |  | 3.52 |
Costs of capitalized interest |  |  | ThUS$ |  |  |  | 10,575 |  |  |  | 7,345 |  |  |  | 11,627 |

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