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FOREIGN CURRENCY AND EXCHANGE RATE DIFFERENCES | 12 Months Ended
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Dec. 31, 2023
Disclosure Of Effect Of Changes In Foreign Exchange Rates [Abstract] |
FOREIGN CURRENCY AND EXCHANGE RATE DIFFERENCES | FOREIGN CURRENCY AND EXCHANGE RATE DIFFERENCES The functional currency of LATAM Airlines Group S.A. is the US dollar, LATAM has subsidiaries whose functional currency is different to the US dollar, such as the chilean peso, argentine peso, colombian peso, brazilian real and guaraní. The functional currency is defined as the currency of the primary economic environment in which an entity operates. For each entity and all other currencies are defined as a foreign currency. Considering the above, the balances by currency mentioned in this note correspond to the sum of foreign currency of each of the entities that are part of the LATAM Airlines Group S.A. and Subsidiaries. Following are the current exchange rates for the US dollar, on the dates indicated:
| As of December 31, |  | As of December 31, |  | As of December 31,
| 2023 |  | 2022 |  | 2021
Argentine peso | 807.98 |  |  | 177.12 |  |  | 102.75 |
Brazilian real | 4.85 |  |  | 5.29 |  |  | 5.57 |
Chilean peso | 877.12 |  |  | 855.86 |  |  | 844.69 |
Colombian peso | 3,872.49 |  |  | 4,845.35 |  |  | 4,002.52 |
Euro | 0.90 |  |  | 0.93 |  |  | 0.88 |
Australian dollar | 1.46 |  |  | 1.47 |  |  | 1.38 |
Boliviano | 6.86 |  |  | 6.86 |  |  | 6.86 |
Mexican peso | 16.91 |  |  | 19.50 |  |  | 20.53 |
New Zealand dollar | 1.58 |  |  | 1.58 |  |  | 1.46 |
Peruvian Sol | 3.70 |  |  | 3.81 |  |  | 3.98 |
Paraguayan Guarani | 7,270.6 |  |  | 7,332.2 |  |  | 6,866.40 |
Uruguayan peso | 38.81 |  |  | 39.71 |  |  | 44.43 |
Foreign currency The foreign currency detail of balances of monetary items in current and non-current assets is as follows:
| As of December 31, 2023 |  | As of December 31, 2022
| ThUS$ |  | ThUS$
Current assets |  |  |
Cash and cash equivalents | 386,216 |  |  | 265,371 |
Argentine peso | 1,808 |  |  | 6,712 |
Brazilian real | 7,108 |  |  | 3,355 |
Chilean peso | 47,907 |  |  | 17,591 |
Colombian peso | 8,968 |  |  | 8,415 |
Euro | 25,329 |  |  | 19,361 |
U.S. dollar | 237,251 |  |  | 168,139 |
Other currency | 57,845 |  |  | 41,798 |
Other financial assets, current | 14,659 |  |  | 331,617 |
Chilean peso | 4,367 |  |  | 5,778 |
Euro | 3,722 |  |  | 2,483 |
U.S. dollar | 5,971 |  |  | 322,796 |
Other currency | 599 |  |  | 560 |
Other non - financial assets, current | 36,654 |  |  | 19,425 |
Brazilian real | 719 |  |  | 2,303 |
Chilean peso | 12,354 |  |  | 3,341 |
Euro | 5,310 |  |  | 622 |
U.S. dollar | 10,735 |  |  | 4,369 |
Other currency | 7,536 |  |  | 8,790 |
Trade and other accounts receivable, current | 279,586 |  |  | 143,631 |
Argentine peso | 12,831 |  |  | 25,035 |
Brazilian real | 620 |  |  | 10,669 |
Chilean peso | 69,588 |  |  | 31,258 |
Colombian peso | 1,453 |  |  | 176 |
Euro | 90,699 |  |  | 12,506 |
U.S. dollar | 68,893 |  |  | 25,549 |
Other currency | 35,502 |  |  | 38,438 |
| As of December 31, 2023 |  | As of December 31, 2022
| ThUS$ |  | ThUS$
Current assets |  |  |
Accounts receivable from related entities, current | 27 |  |  | 138 |
Chilean peso | 27 |  |  | 31 |
U.S. dollar | — |  |  | 107 |
Tax current assets | 17,258 |  |  | 15,623 |
Chilean peso | 2,202 |  |  | 1,569 |
Colombian peso | 6,084 |  |  | 1,921 |
Peruvian sun | 7,108 |  |  | 10,300 |
Other currency | 1,864 |  |  | 1,833 |
Total current assets | 734,400 |  |  | 775,805 |
Argentine peso | 14,639 |  |  | 31,747 |
Brazilian real | 8,447 |  |  | 16,327 |
Chilean peso | 136,445 |  |  | 59,568 |
Colombian peso | 16,505 |  |  | 10,512 |
Euro | 125,060 |  |  | 34,972 |
U.S. Dollar | 322,850 |  |  | 520,960 |
Other currency | 110,454 |  |  | 101,719 |
| As of December 31, 2023 |  | As of December 31, 2022
| ThUS$ |  | ThUS$
Non-current assets |  |  |
Other financial assets, non-current | 15,375 |  |  | 13,366 |
Brazilian real | 3,807 |  |  | 3,495 |
Chilean peso | 2,073 |  |  | 69 |
Colombian peso | 841 |  |  | 1,344 |
Euro | 4,252 |  |  | 4,308 |
U.S. dollar | 2,071 |  |  | 2,050 |
Other currency | 2,331 |  |  | 2,100 |
Other non - financial assets, non-current | 9,856 |  |  | 11,909 |
Argentine peso | 1 |  |  | 12 |
Brazilian real | 9,789 |  |  | 8,082 |
U.S. dollar | 15 |  |  | 3,815 |
Other currency | 51 |  |  | — |
Accounts receivable, non-current | 4,732 |  |  | 4,526 |
Chilean peso | 4,732 |  |  | 4,526 |
Deferred tax assets | 1,048 |  |  | 2,948 |
Colombian peso | 859 |  |  | 2,567 |
U.S. dollar | 144 |  |  | 20 |
Other currency | 45 |  |  | 361 |
Total non-current assets | 31,011 |  |  | 32,749 |
Argentine peso | 1 |  |  | 12 |
Brazilian real | 13,596 |  |  | 11,577 |
Chilean peso | 6,805 |  |  | 4,595 |
Colombian peso | 1,700 |  |  | 3,911 |
Euro | 4,252 |  |  | 4,308 |
U.S. dollar | 2,230 |  |  | 5,885 |
Other currency | 2,427 |  |  | 2,461 |
The foreign currency detail of balances of monetary items in current liabilities and non-current is as follows:
| Up to 90 days |  | 91 days to 1 year
| As of December 31, 2023 |  | As of December 31, 2022 |  | As of December 31, 2023 |  | As of December 31, 2022
| ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$
Current liabilities |  |  |  |  |  |  |
Other financial liabilities, current | 4,331 |  |  | 17,062 |  |  | 1,010 |  |  | 602 |
Chilean peso | 1,364 |  |  | 10,697 |  |  | 702 |  |  | 602 |
U.S. dollar | 2,510 |  |  | 5,558 |  |  | — |  |  | — |
Other currency | 457 |  |  | 807 |  |  | 308 |  |  | — |
Trade and other accounts payables, current | 616,032 |  |  | 720,688 |  |  | 9,583 |  |  | 20,995 |
Argentine peso | 2,074 |  |  | 45,345 |  |  | 132 |  |  | 3,446 |
Brazilian real | 13,401 |  |  | 48,511 |  |  | 922 |  |  | 651 |
Chilean peso | 128,838 |  |  | 146,395 |  |  | 1,560 |  |  | 1,231 |
Colombian peso | 197 |  |  | 2,330 |  |  | — |  |  | 31 |
Euro | 54,744 |  |  | 29,502 |  |  | 7 |  |  | 11 |
U.S. dollar | 350,635 |  |  | 328,540 |  |  | 1,797 |  |  | 2,883 |
Peruvian sol | 42,347 |  |  | 7,426 |  |  | 4,994 |  |  | 10,886 |
Mexican peso | 2,019 |  |  | 12,969 |  |  | — |  |  | 75 |
Pound sterling | 17,379 |  |  | 37,788 |  |  | 11 |  |  | 19 |
Uruguayan peso | 706 |  |  | 1,199 |  |  | 39 |  |  | 1,110 |
Other currency | 3,692 |  |  | 60,683 |  |  | 121 |  |  | 652 |
Accounts payable to related entities, current | 5,154 |  |  | 6 |  |  | — |  |  | — |
Chilean peso | — |  |  | 6 |  |  | — |  |  | — |
U.S. dollar | 5,154 |  |  | — |  |  | — |  |  | — |
Other provisions, current | 16 |  |  | 29 |  |  | 12,429 |  |  | 11,655 |
Chilean peso | — |  |  | — |  |  | 4 |  |  | 29 |
Other currency | 16 |  |  | 29 |  |  | 12,425 |  |  | 11,626 |
| Up to 90 days |  | 91 days to 1 year
| As of December 31, 2023 |  | As of December 31, 2022 |  | As of December 31, 2023 |  | As of December 31, 2022
| ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$
Current liabilities |  |  |  |  |  |  |
Other non-financial liabilities, current | 15,634 |  |  | 16,315 |  |  | 6,099 |  |  | 9,071 |
Argentine peso | 836 |  |  | 87 |  |  | 445 |  |  | 6,563 |
Chilean peso | 4,338 |  |  | 1,568 |  |  | 4,026 |  |  | 178 |
Colombian peso | 1,456 |  |  | 294 |  |  | 1,066 |  |  | 798 |
U.S. dollar | 7,305 |  |  | 12,975 |  |  | 416 |  |  | 1,063 |
Other currency | 1,699 |  |  | 1,391 |  |  | 146 |  |  | 469 |
Total current liabilities | 641,167 |  |  | 754,100 |  |  | 29,121 |  |  | 42,323 |
Argentine peso | 2,910 |  |  | 45,432 |  |  | 577 |  |  | 10,009 |
Brazilian real | 13,401 |  |  | 48,511 |  |  | 922 |  |  | 651 |
Chilean peso | 134,540 |  |  | 158,666 |  |  | 6,292 |  |  | 2,040 |
Colombian peso | 1,653 |  |  | 2,624 |  |  | 1,066 |  |  | 829 |
Euro | 54,744 |  |  | 29,502 |  |  | 7 |  |  | 11 |
U.S. dollar | 365,604 |  |  | 347,073 |  |  | 2,213 |  |  | 3,946 |
Other currency | 68,315 |  |  | 122,292 |  |  | 18,044 |  |  | 24,837 |
| More than 1 to 3 years |  | More than 3 to 5 years |  | More than 5 years
| As of December 31, 2023 |  | As of December 31, 2022 |  | As of December 31, 2023 |  | As of December 31, 2022 |  | As of December 31, 2023 |  | As of December 31, 2022
| ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$
Non-current liabilities |  |  |  |  |  |  |  |  |  |  |
Other financial liabilities, non-current | 32,867 |  |  | 32,036 |  |  | 2,871 |  |  | 774 |  |  | 165,511 |  |  | 170,437 |
Chilean peso | 17,020 |  |  | 11,544 |  |  | 2,500 |  |  | 774 |  |  | 164,942 |  |  | 170,437 |
Brazilian real | 552 |  |  | 16 |  |  | — |  |  | — |  |  | — |  |  | — |
Euro | 412 |  |  | 1,409 |  |  | 371 |  |  | — |  |  | 569 |  |  | — |
U.S. dollar | 14,110 |  |  | 18,354 |  |  | — |  |  | — |  |  | — |  |  |
Other currency | 773 |  |  | 713 |  |  | — |  |  | — |  |  | — |  |  | — |
Accounts payable, non-current | 72,783 |  |  | 58,449 |  |  | — |  |  | — |  |  | — |  |  | — |
Chilean peso | 16,774 |  |  | 17,259 |  |  | — |  |  | — |  |  | — |  |  |
U.S. dollar | 54,441 |  |  | 39,717 |  |  | — |  |  | — |  |  | — |  |  | — |
Other currency | 1,568 |  |  | 1,473 |  |  | — |  |  | — |  |  | — |  |  | — |
Other provisions, non-current | 49,427 |  |  | 43,301 |  |  | — |  |  | — |  |  | — |  |  | — |
Argentine peso | 3,570 |  |  | 1,917 |  |  | — |  |  | — |  |  | — |  |  | — |
Brazilian real | 42,244 |  |  | 37,982 |  |  | — |  |  | — |  |  | — |  |  | — |
Colombian peso | 395 |  |  | 202 |  |  | — |  |  | — |  |  | — |  |  | — |
Euro | 3,053 |  |  | 2,944 |  |  | — |  |  | — |  |  | — |  |  | — |
U.S. dollar | 165 |  |  | 256 |  |  | — |  |  | — |  |  | — |  |  | — |
Provisions for employees benefits, non-current | 79,749 |  |  | 55,454 |  |  | — |  |  | — |  |  | — |  |  | — |
Chilean peso | 76,247 |  |  | 55,454 |  |  | — |  |  | — |  |  | — |  |  | — |
U.S. dollar | 3,502 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total non-current liabilities | 234,826 |  |  | 189,240 |  |  | 2,871 |  |  | 774 |  |  | 165,511 |  |  | 170,437 |
Argentine peso | 3,570 |  |  | 1,917 |  |  | — |  |  | — |  |  | — |  |  | — |
Brazilian real | 42,796 |  |  | 37,998 |  |  | — |  |  | — |  |  | — |  |  | — |
Chilean peso | 110,041 |  |  | 84,257 |  |  | 2,500 |  |  | 774 |  |  | 164,942 |  |  | 170,437 |
Colombian peso | 395 |  |  | 202 |  |  | — |  |  | — |  |  | — |  |  | — |
Euro | 3,465 |  |  | 4,353 |  |  | 371 |  |  | — |  |  | 569 |  |  | — |
U.S. dollar | 72,218 |  |  | 58,327 |  |  | — |  |  | — |  |  | — |  |  | — |
Other currency | 2,341 |  |  | 2,186 |  |  | — |  |  | — |  |  | — |  |  | — |
| As of December 31, 2023 |  | As of December 31, 2022
| ThUS$ |  | ThUS$
General summary of foreign currency: |  |  |
Total assets | 765,411 |  |  | 808,554 |
Argentine peso | 14,640 |  |  | 31,759 |
Brazilian real | 22,043 |  |  | 27,904 |
Chilean peso | 143,250 |  |  | 64,163 |
Colombian peso | 18,205 |  |  | 14,423 |
Euro | 129,312 |  |  | 39,280 |
U.S. dollar | 325,080 |  |  | 526,845 |
Other currency | 112,881 |  |  | 104,180 |
Total liabilities | 1,073,496 |  |  | 1,156,874 |
Argentine peso | 7,057 |  |  | 57,358 |
Brazilian real | 57,119 |  |  | 87,160 |
Chilean peso | 418,315 |  |  | 416,174 |
Colombian peso | 3,114 |  |  | 3,655 |
Euro | 59,156 |  |  | 33,866 |
U.S. dollar | 440,035 |  |  | 409,346 |
Other currency | 88,700 |  |  | 149,315 |
Net position |  |  |
Argentine peso | 7,583 |  |  | (25,599) |
Brazilian real | (35,076) |  |  | (59,256) |
Chilean peso | (275,065) |  |  | (352,011) |
Colombian peso | 15,091 |  |  | 10,768 |
Euro | 70,156 |  |  | 5,414 |
U.S. dollar | (114,955) |  |  | 117,499 |
Other currency | 24,181 |  |  | (45,135) |

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