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EQUITY (Tables) | 12 Months Ended
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Dec. 31, 2022
Equity [Abstract] |
Schedule of conversion option is exercised under the convertible notes currently issued |
|  | as of December 31, 2022 |  |  | as of December 31, 2021 |
|  | N° of authorized shares |  |  | N° of Subscribed of shares and paid or delivered pursuant to the exercise of the conversion option |  |  | N° of convertible notes back-up shares pending to place |  |  | N° of shares to subscribe or not used |  |  | N° of authorized shares |  |  | N° of subscribed shares and paid |  |  | N° of shares to subscribe or not used |
Opening Balance |  |  | 606,407,693 |  |  |  | 606,407,693 |  |  |  | - |  |  |  | - |  |  |  | 606,407,693 |  |  |  | 606,407,693 |  |  |  | - |
New shares issued |  |  | 73,809,875,794 |  |  |  | 73,809,875,794 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Convertible Notes G |  |  | 19,992,142,087 |  |  |  | 18,820,511,197 |  |  |  | 960,098 |  |  |  | 960,098 |  |  |  | 1,170,670,792 |  |  |  | - |  |  |  | - |
Convertible Notes H |  |  | 126,661,409,136 |  |  |  | 126,657,203,849 |  |  |  | 4,205,287 |  |  |  | 4,205,287 |  |  |  | - |  |  |  | - |  |  |  | - |
Convertible Notes I |  |  | 385,337,858,290 |  |  |  | 385,337,856,192 |  |  |  | - |  |  |  | 2,098 |  |  |  | - |  |  |  | - |  |  |  | - |
Subtotal |  |  | 605,801,285,307 |  |  |  | 604,625,447,032 |  |  |  | 5,165,385 |  |  |  | 1,170,672,890 |  |  |  | - |  |  |  | - |  |  |  | - |
Closing Balance |  |  | 606,407,693,000 |  |  |  | 605,231,854,725 |  |  |  | 5,165,385 |  |  |  | 1,170,672,890 |  |  |  | 606,407,693 |  |  |  | 606,407,693 |  |  |  | - |
Schedule of movement of fully paid shares |
|  | Paid- in |
|  | Capital |
|  | ThUS$ |
Initial balance as of January 1, 2020 |  |  | 3,146,265 |
There are no movements of shares paid during the 2020 year |  |  | - |
Ending balance as of December 31, 2020 |  |  | 3,146,265 |
Initial balance as of January 1, 2021 |  |  | 3,146,265 |
There are no movements of shares paid during the 2021 period |  |  | - |
Ending balance as of December 31, 2021 |  |  | 3,146,265 |
Initial balance as of January 1, 2022 |  |  | 3,146,265 |
New shares issued (ERO) |  |  | 800,000 |
Conversion options of convertible notes exercised during the year - Convertible Notes G (1) |  |  | 1,115,996 |
Conversion options of convertible notes exercised during the year - Convertible Notes H |  |  | 1,372,798 |
Conversion options of convertible notes exercised during the year - Convertible Notes I (2) |  |  | 6,863,427 |
Subtotal |  |  | 10,152,221 |
Ending balance as of December 31, 2022 |  |  | 13,298,486 |
(1) | It only includes Convertible Notes issued in exchange for the settlement of Chapter 11 claims.
(2) | Part of the Convertible Notes received in cash and the rest in exchange for the settlement of Chapter 11 claims.
Schedule of equity portion is recognized under other equity |
|  | Convertible |  |  | Convertible |  |  | Convertible |  |  | Total Convertible |
Concepts |  | Notes G |  |  | Notes H |  |  | Notes I |  |  | Notes |
|  | THUS$ |  |  | THUS$ |  |  | THUS$ |  |  | THUS$ |
Face Value |  |  | 1,115,996 |  |  |  | 1,372,837 |  |  |  | 6,863,427 |  |  |  | 9,352,260 |
Adjustment to fair value |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Convertible Notes at the date of issue |  |  | (923,616 | ) |  |  | - |  |  |  | (2,686,854 | ) |  |  | (3,610,470 | )
Issuance cost |  |  | - |  |  |  | (24,812 | ) |  |  | (705,467 | ) |  |  | (730,279 | )
Subtotal |  |  | (923,616 | ) |  |  | (24,812 | ) |  |  | (3,392,321 | ) |  |  | (4,340,749 | )
Fair Value of Notes |  |  | 192,380 |  |  |  | 1,348,025 |  |  |  | 3,471,106 |  |  |  | 5,011,511 |
Debt component at the date of issue |  |  |  |  |  |  | (102,031 | ) |  |  | - |  |  |  | (102,031 | )
Equity component at the date of issue |  |  | 192,380 |  |  |  | 1,245,994 |  |  |  | 3,471,106 |  |  |  | 4,909,480 |
Schedule of converted into share |
|  | Convertible |  |  | Convertible |  |  | Convertible |  |  | Total Convertible |
Concepts |  | Notes G |  |  | Notes H |  |  | Notes I |  |  | Notes |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Conversion percentage |  |  | 100.000 | % |  |  | 99.997 | % |  |  | 100.000 | % |  |  |  |
Conversion option of convertible notes exercised |  |  | 1,115,996 |  |  |  | 1,270,767 |  |  |  | 6,863,427 |  |  |  | 9,250,190 |
Converted debt component |  |  | - |  |  |  | 102,031 |  |  |  | - |  |  |  | 102,031 |
Total Converted Notes |  |  | 1,115,996 |  |  |  | 1,372,798 |  |  |  | 6,863,427 |  |  |  | 9,352,221 |
Schedule of movement of reserves of share-based payments |
|  |  |  |  | Stock |  |  |  |
|  | Opening |  |  | option |  |  | Closing |
Periods |  | balance |  |  | plan |  |  | balance |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
From January 1 to December 31, 2020 |  |  | 36,289 |  |  |  | 946 |  |  |  | 37,235 |
From January 1 to December 31, 2021 |  |  | 37,235 |  |  |  | - |  |  |  | 37,235 |
From January 1 to December 31, 2022 |  |  | 37,235 |  |  |  | - |  |  |  | 37,235 |
Schedule of other sundry reserves |
Periods |  | Opening balance |  |  | Transactions with non-controlling interest |  |  | Legal reserves |  |  | Other sundry reserves |  |  | Closing balance |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
From January 1 to December 31, 2020 |  |  | 2,452,469 |  |  |  | (3,125 | ) |  |  | 2,675 |  |  |  | - |  |  |  | 2,452,019 |
From January 1 to December 31, 2021 |  |  | 2,452,019 |  |  |  | (3,383 | ) |  |  | (538 | ) |  |  | - |  |  |  | 2,448,098 |
From January 1 to December 31, 2022 |  |  | 2,448,098 |  |  |  | - |  |  |  | - |  |  |  | (4,420,749 | ) |  |  | (1,972,651 | )
Schedule of other sundry reserves |
|  | As of |  |  | As of |  |  | As of |
|  | December 31, |  |  | December 31, |  |  | December 31, |
|  | 2022 |  |  | 2021 |  |  | 2020 |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Higher value for TAM S.A. share exchange (1) |  |  | 2,665,692 |  |  |  | 2,665,692 |  |  |  | 2,665,692 |
Reserve for the adjustment to the value of fixed assets (2) |  |  | 2,620 |  |  |  | 2,620 |  |  |  | 2,620 |
Transactions with non-controlling interest (3) |  |  | (216,656 | ) |  |  | (216,656 | ) |  |  | (213,273 | )
Adjustment to the fair value of the New Convertible Notes (4) |  |  | (3,610,470 | ) |  |  | - |  |  |  | - |
Cost of issuing shares and New Convertible Notes (5) |  |  | (810,279 | ) |  |  | - |  |  |  | - |
Others |  |  | (3,558 | ) |  |  | (3,558 | ) |  |  | (3,020 | )
Total |  |  | (1,972,651 | ) |  |  | 2,448,098 |  |  |  | 2,452,019 |
(1) | Corresponds to the difference between the value of the shares of TAM S.A., acquired by Sister Holdco S.A. (under the Subscriptions) and by Holdco II S.A. (by virtue of the Exchange Offer), which is recorded in the declaration of completion of the merger by absorption, and the fair value of the shares exchanged by LATAM Airlines Group S.A. as of June 22, 2012.
(2) | Corresponds to the technical revaluation of the fixed assets authorized by the Commission for the Financial Market in the year 1979, in Circular No. 1529. The revaluation was optional and could be made only once; the originated reserve is not distributable and can only be capitalized.
(3) | The balance as of December 31, 2022 corresponds to the loss generated by: Lan Pax Group S.A. e Inversiones Lan S.A. in the acquisition of shares of Aerovías de Integración Regional Aires S.A. for ThUS $ (3,480) and ThUS $ (20), respectively; the acquisition of TAM S.A. of the minority interest in Aerolinhas Brasileiras S.A. for ThUS $ (885), the acquisition of Inversiones Lan S.A. of the minority participation in Aires Integra Regional Airlines S.A. for an amount of ThUS $ (2) and the acquisition of a minority stake in Aerolane S.A. by Lan Pax Group S.A. for an amount of ThUS $ (21,526) through Holdco Ecuador S.A. (3) The loss due to the acquisition of the minority interest of Multiplus S.A. for ThUS $ (184,135) (see Note 1), (4) and the acquisition of a minority interest in LATAM Airlines Perú S.A through LATAM Airlines Group S.A for an amount of ThUS $ (3,225) and acquisition of the minority stake in LAN Argentina S.A. and Inversora Cordillera through Transportes Aéreos del Mercosur S.A. for an amount of ThUS $ (3,383).
(4) | The adjustment to the fair value of the Convertible Notes issued in exchange for settlement of Chapter 11 claims was valued considering the discount that each group of liabilities settled on at the emergence date. These relate to: gain on the haircut for the accounts payable and other accounts payable for ThUS$2,550,306 (see note 26d), gain on the haircut for the financial liabilities for ThUS$420,436 (see note 26e) and gain on the haircut of lease liabilities which is booked against the right of use asset for THUS$639,728.
(5) | Corresponds to 20% of the sum of the commitment of new funds of the Backstop Parties under the Series I Convertible Bonds and the New Paid Shares, plus additional costs for extension of the Backstop agreement.
Schedule of movement of reserves with effect in other comprehensive income |
|  | Currency translation reserve |  |  | Cash flow hedging reserve |  |  | Gains (Losses) on change on value of time value of options |  |  | Actuarial gain or loss on defined benefit plans reserve |  |  | Total |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Opening balance as of January 1, 2020 |  |  | (2,890,287 | ) |  |  | 56,892 |  |  |  | - |  |  |  | (22,940 | ) |  |  | (2,856,335 | )
Change in fair value of hedging instrument recognised in OCI |  |  | - |  |  |  | (105,776 | ) |  |  | - |  |  |  | - |  |  |  | (105,776 | )
Reclassified from OCI to profit or loss |  |  | - |  |  |  | (13,016 | ) |  |  | - |  |  |  | - |  |  |  | (13,016 | )
Deferred tax |  |  | - |  |  |  | 959 |  |  |  | - |  |  |  | - |  |  |  | 959 |
Actuarial reserves by employee benefit plans |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (3,968 | ) |  |  | (3,968 | )
Deferred tax actuarial IAS by employee benefit plans |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 923 |  |  |  | 923 |
Translation difference subsidiaries |  |  | (900,226 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (900,226 | )
Closing balance as of December 31, 2020 |  |  | (3,790,513 | ) |  |  | (60,941 | ) |  |  | - |  |  |  | (25,985 | ) |  |  | (3,877,439 | )
Increase (decrease) due to application of new accounting standars |  |  | - |  |  |  | 380 |  |  |  | (380 | ) |  |  |  |  |  |  | - |
Opening balance as of January 1, 2021 |  |  | (3,790,513 | ) |  |  | (60,561 | ) |  |  | (380 | ) |  |  | (25,985 | ) |  |  | (3,877,439 | )
Change in fair value of hedging instrument recognised in OCI |  |  | - |  |  |  | 39,602 |  |  |  | (23,692 | ) |  |  | - |  |  |  | 15,910 |
Reclassified from OCI to profit or loss |  |  | - |  |  |  | (16,641 | ) |  |  | 6,509 |  |  |  | - |  |  |  | (10,132 | )
Deferred tax |  |  | - |  |  |  | (58 | ) |  |  | - |  |  |  | - |  |  |  | (58 | )
Actuarial reserves by employee benefit plans |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 10,017 |  |  |  | 10,017 |
Deferred tax actuarial IAS by employee benefit plans |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (2,782 | ) |  |  | (2,782 | )
Translation difference subsidiaries |  |  | 18,354 |  |  |  | (732 | ) |  |  | - |  |  |  | - |  |  |  | 17,622 |
Closing balance as of December 31, 2021 |  |  | (3,772,159 | ) |  |  | (38,390 | ) |  |  | (17,563 | ) |  |  | (18,750 | ) |  |  | (3,846,862 | )
Opening balance as of January 1, 2022 |  |  | (3,772,159 | ) |  |  | (38,390 | ) |  |  | (17,563 | ) |  |  | (18,750 | ) |  |  | (3,846,862 | )
Change in fair value of hedging instrument recognised in OCI |  |  | - |  |  |  | 51,323 |  |  |  | (23,845 | ) |  |  | - |  |  |  | 27,478 |
Reclassified from OCI to profit or loss |  |  | - |  |  |  | 31,293 |  |  |  | 19,946 |  |  |  | - |  |  |  | 51,239 |
Reclassified from OCI to the value of the hedged asset |  |  | - |  |  |  | (8,143 | ) |  |  | - |  |  |  | - |  |  |  | (8,143 | )
Deferred tax |  |  | - |  |  |  | (235 | ) |  |  | - |  |  |  | - |  |  |  | (235 | )
Actuarial reserves by employee benefit plans |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (9,933 | ) |  |  | (9,933 | )
Deferred tax actuarial IAS by employee benefit plans |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 566 |  |  |  | 566 |
Translation difference subsidiaries |  |  | (33,401 | ) |  |  | 694 |  |  |  | (160 | ) |  |  | - |  |  |  | (32,867 | )
Closing balance as of December 31, 2022 |  |  | (3,805,560 | ) |  |  | 36,542 |  |  |  | (21,622 | ) |  |  | (28,117 | ) |  |  | (3,818,757 | )
Schedule of movement of retained earnings |
Periods |  | Opening balance |  |  | Result for the period |  |  | Dividends |  |  | Closing balance |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
From January 1 to December 31, 2020 |  |  | 352,272 |  |  |  | (4,545,887 | ) |  |  | - |  |  |  | (4,193,615 | )
From January 1 to December 31, 2021 |  |  | (4,193,615 | ) |  |  | (4,647,491 | ) |  |  | - |  |  |  | (8,841,106 | )
From January 1 to December 31, 2022 |  |  | (8,841,106 | ) |  |  | 1,339,210 |  |  |  | - |  |  |  | (7,501,896 | )

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