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Financial instruments | 12 Months Ended
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Dec. 31, 2018
Disclosure Of Financials instruments [Abstract] |
Disclosure of financial instruments [text block] |
| Note 13 | Financial instruments
Financial instruments are detailed as follows:
| 13.1 | Types of other financial assets
Description of other financial assets |  | 12/31/2018 ThUS$ |  |  | 12/31/2017 ThUS$ |
Financial assets at amortized cost (1) |  |  | 291,790 |  |  |  | 360,941 |
Derivative financial instruments |  |  |  |  |  |  |  |
- For hedging |  |  | 18,238 |  |  |  | - |
- At fair value through profit or loss (2) |  |  | 2,693 |  |  |  | 6,038 |
Total other current financial assets |  |  | 312,721 |  |  |  | 366,979 |
Investments classified as available for sale at fair value through profit or loss |  |  | - |  |  |  | 9,179 |
Financial assets at fair value through other comprehensive income |  |  | 3,631 |  |  |  | - |
Derivative financial instruments |  |  |  |  |  |  |  |
- For hedging |  |  | 13,425 |  |  |  | 8,910 |
Financial assets at amortized cost (3) |  |  | 75 |  |  |  | 24,790 |
Total other non-current financial assets |  |  | 17,131 |  |  |  | 42,879 |
| (1) | Corresponds to term deposits whose maturity date is greater than 90 days and less than 360 days from the investment date constituted in the following financial institutions:
| (2) | Correspond to forwards and options that were not classified as hedging instruments (See detail in Note 13.3).
| (3) | SQM Potassium S.A. contributed ThUS$24,745 to Western Australia Lithium (WAL). As of December 31, 2017, this had not been legally incorporated as a Company and the funds remained in trust pending transfer to WAL.
Institution |  | 12/31/2018 ThUS$ |  |  | 12/31/2017 ThUS$ |
Banco Santander |  |  | 23,124 |  |  |  | 163,269 |
Banco de Crédito e Inversiones |  |  | 145,834 |  |  |  | 71,748 |
Banco Itaú-Corpbanca |  |  | 70,719 |  |  |  | 77,527 |
Banco Security |  |  | 27,215 |  |  |  | 28,592 |
Scotiabank Sud Americano |  |  | 24,898 |  |  |  | 13,764 |
Banco Chile |  |  | - |  |  |  | 4,834 |
Banco BBVA Chile |  |  | - |  |  |  | 1,207 |
Total |  |  | 291,790 |  |  |  | 360,941 |
| 13.2 | Trade and other receivables
|  | 12/31/2018 |  |  | 12/31/2017 |
|  | Current |  |  | Non-current |  |  | Total |  |  | Current |  |  | Non-current |  |  | Total |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$$ |  |  | ThUS$ |
Trade receivables |  |  | 429,150 |  |  |  | - |  |  |  | 429,150 |  |  |  | 412,321 |  |  |  | - |  |  |  | 412,321 |
Prepayments |  |  | 16,147 |  |  |  | - |  |  |  | 16,147 |  |  |  | 16,177 |  |  |  | - |  |  |  | 16,177 |
Other receivables |  |  | 19,558 |  |  |  | 2,275 |  |  |  | 21,833 |  |  |  | 18,377 |  |  |  | 1,912 |  |  |  | 20,289 |
Total trade and other receivables |  |  | 464,855 |  |  |  | 2,275 |  |  |  | 467,130 |  |  |  | 446,875 |  |  |  | 1,912 |  |  |  | 448,787 |
|  | 12/31/2018 |  |  | 12/31/2017 |
|  | Assets before allowances |  |  | Allowance for doubtful trade receivables |  |  | Assets for trade receivables, net |  |  | Assets before allowances |  |  | Allowance for doubtful trade receivables |  |  | Assets for trade receivables, net |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Receivables related to credit operations, current |  |  | 445,670 |  |  |  | (16,520 | ) |  |  | 429,150 |  |  |  | 427,400 |  |  |  | (15,079 | ) |  |  | 412,321 |
Trade receivables, current |  |  | 445,670 |  |  |  | (16,520 | ) |  |  | 429,150 |  |  |  | 427,400 |  |  |  | (15,079 | ) |  |  | 412,321 |
Prepayments, current |  |  | 16,990 |  |  |  | (843 | ) |  |  | 16,147 |  |  |  | 16,877 |  |  |  | (700 | ) |  |  | 16,177 |
Other receivables, current |  |  | 23,863 |  |  |  | (4,305 | ) |  |  | 19,558 |  |  |  | 23,409 |  |  |  | (5,032 | ) |  |  | 18,377 |
Current trade and other receivables |  |  | 40,853 |  |  |  | (5,148 | ) |  |  | 35,705 |  |  |  | 40,286 |  |  |  | (5,732 | ) |  |  | 34,554 |
Other receivables, non-current |  |  | 2,275 |  |  |  | - |  |  |  | 2,275 |  |  |  | 1,912 |  |  |  | - |  |  |  | 1,912 |
Non-current receivables |  |  | 2,275 |  |  |  | - |  |  |  | 2,275 |  |  |  | 1,912 |  |  |  | - |  |  |  | 1,912 |
Total trade and other receivables |  |  | 488,798 |  |  |  | (21,668 | ) |  |  | 467,130 |  |  |  | 469,598 |  |  |  | (20,811 | ) |  |  | 448,787 |
Portfolio stratification, continued The Company’s policy is to require guarantees (such as letters of credit, guarantee clauses and others) and/or maintaining insurance policies for certain accounts as deemed necessary by management. Uncollateralized portfolio As of December 31, 2018 the detail of the uncollateralized portfolio is as follows:
|  | 2018 |
|  | Total uncollateralized portfolio |
Past due segments |  | Number of customers non- renegotiated portfolio |  |  | Gross non- renegotiated portfolio ThUS$ |  |  | Number of customers renegotiated portfolio |  |  | Gross renegotiated portfolio ThUS$ |
Current |  |  | 1,429 |  |  |  | 403,805 |  |  |  | 136 |  |  |  | 668 |
1-30 days |  |  | 1,284 |  |  |  | 17,899 |  |  |  | 390 |  |  |  | 596 |
31-60 days |  |  | 940 |  |  |  | 8,063 |  |  |  | 154 |  |  |  | 118 |
61-90 days |  |  | 661 |  |  |  | 2,147 |  |  |  | 41 |  |  |  | 75 |
91-120 days |  |  | 498 |  |  |  | 1,210 |  |  |  | 27 |  |  |  | 47 |
121-150 days |  |  | 85 |  |  |  | 385 |  |  |  | 16 |  |  |  | 29 |
151-180 days |  |  | 49 |  |  |  | 177 |  |  |  | 21 |  |  |  | 176 |
181-210 days |  |  | 14 |  |  |  | 1,289 |  |  |  | 41 |  |  |  | 231 |
211-250 days |  |  | 12 |  |  |  | 107 |  |  |  | 101 |  |  |  | 242 |
>250 days |  |  | 1,756 |  |  |  | 7,258 |  |  |  | 305 |  |  |  | 1,148 |
Total |  |  | 6,728 |  |  |  | 442,340 |  |  |  | 1,232 |  |  |  | 3,330 |
As of December 31, 2017 the detail of the uncollateralized portfolio is as follows:
|  | 2017 |
|  | Total uncollateralized portfolio |
Past due segments |  | Number of customers non- renegotiated portfolio |  |  | Gross non- renegotiated portfolio ThUS$ |  |  | Number of customers renegotiated portfolio |  |  | Gross renegotiated portfolio ThUS$ |
Current |  |  | 3,039 |  |  |  | 344,802 |  |  |  | 23 |  |  |  | 706 |
1-30 days |  |  | 1,598 |  |  |  | 41,510 |  |  |  | 376 |  |  |  | 924 |
31-60 days |  |  | 824 |  |  |  | 8,813 |  |  |  | 130 |  |  |  | 272 |
61-90 days |  |  | 756 |  |  |  | 3,740 |  |  |  | 50 |  |  |  | 119 |
91-120 days |  |  | 548 |  |  |  | 7,367 |  |  |  | 22 |  |  |  | 54 |
121-150 days |  |  | 182 |  |  |  | 2,914 |  |  |  | 22 |  |  |  | 56 |
151-180 days |  |  | 443 |  |  |  | 5,602 |  |  |  | 45 |  |  |  | 75 |
181-210 days |  |  | 365 |  |  |  | 4,470 |  |  |  | 27 |  |  |  | 45 |
211-250 days |  |  | 682 |  |  |  | 112 |  |  |  | 29 |  |  |  | 138 |
>250 days |  |  | 1,837 |  |  |  | 3,050 |  |  |  | 350 |  |  |  | 2,631 |
Total |  |  | 10,274 |  |  |  | 422,380 |  |  |  | 1,074 |  |  |  | 5,020 |
|  | Accounts Receivable |
|  |  |  |  | 1 to 30 |  |  | 31 to 60 |  |  | 61 to 90 |  |  | Over 90 |  |  | Total |
2018 |  | Current |  |  | days |  |  | days |  |  | days |  |  | days |  |  | ThUS$ |
Expected Loss Rate |  |  | 0 | % |  |  | 0 | % |  |  | 87 | % |  |  | 100 | % |  |  | 100 | % |  |  |  |
Total Gross Book Value |  |  | 404,473 |  |  |  | 18,495 |  |  |  | 8,181 |  |  |  | 2,222 |  |  |  | 12,299 |  |  |  | 445,670 |
Deterioration Estimate |  |  | - |  |  |  | - |  |  |  | 7,147 |  |  |  | 2,222 |  |  |  | 12,299 |  |  |  | 21,668 |
|  | Accounts Receivable |
|  |  |  |  | 1 to 30 |  |  | 31 to 60 |  |  | 61 to 90 |  |  | Over 90 |  |  | Total |
2017 |  | Current |  |  | days |  |  | days |  |  | days |  |  | days |  |  | ThUS$ |
Expected Loss Rate |  |  | 0 | % |  |  | 0 | % |  |  | 0 | % |  |  | 27 | % |  |  | 74 | % |  |  |  |
Total Gross Book Value |  |  | 345,508 |  |  |  | 42,434 |  |  |  | 9,085 |  |  |  | 3,859 |  |  |  | 26,514 |  |  |  | 427,400 |
Deterioration Estimate |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1,061 |  |  |  | 19,750 |  |  |  | 20,811 |
As of December 31, 2018 and December 31, 2017, movements in provisions are as follows :
|  | 12/31/2018 |  |  | 12/31/2017 |
|  | ThUS$ |  |  | ThUS$ |
Provision Impairment Accounts receivable at the beginning of the Period |  |  | 34,936 |  |  |  | 31,616 |
Adjustment to Starting Balance through New Model Calculations (IFRS 9) |  |  | 2,301 |  |  |  | - |
Increase / (decrease) impairment of accounts receivable for the period to profit and loss |  |  | (2,967 | ) |  |  | 8,037 |
Use of Provision Applied to Accounts Receivable |  |  | (1,636 | ) |  |  | (4,717 | )
Impairment of Accounts Receivable Provision at the beginning of the Period (1)+(2) |  |  | 32,634 |  |  |  | 34,936 |
(1) Trade and Other Receivables Provision |  |  | 21,668 |  |  |  | 20,811 |
(2) Current Related Party Receivables Provision |  |  | 10,966 |  |  |  | 14,125 |
Recovery of Insurance |  |  | 827 |  |  |  | 126 |
Impairment of Accounts Receivable Provision |  |  | 32,634 |  |  |  | 34,936 |
Renegotiated Provision |  |  | 2,056 |  |  |  | 2,580 |
Non-renegotiated Provision |  |  | 30,578 |  |  |  | 32,356 |
Credit risk concentration. Credit risk concentration with respect to trade receivables is reduced due to the great number of entities in the Company’s client base and their distribution throughout the world. 13.3 Hedging assets and liabilities The balance represents derivative instruments measured at fair value which have been classified as hedges from exchange and interest rate risks related to the total obligations associated with bonds in Chilean pesos and UF in Chilean pesos. As of December 31, 2017, the notional amount of cash flows in Cross Currency Swap contracts agreed upon in US dollars amounted to ThUS$ 461,659, and as of December 31, 2017 such contracts amounted to ThUS$ 266,335 .
Hedging assets with underlying debt |  | Derivative instruments (Fwds) |  |  | Effect on profit or loss for the period Derivative instruments |  |  | Hedging reserve in equity before tax |  |  | Deferred tax hedging reserve in equity |  |  | Hedging reserve in equity |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
December 31, 2018 |  |  | 13,516 |  |  |  | (3,004 | ) |  |  | 8,256 |  |  |  | - |  |  |  | 8,256 |
Hedging liabilities with underlying debt |  | Derivative instruments (CCS) |  |  | Effect on profit or loss for the period Derivative instruments |  |  | Hedging reserve in equity before tax |  |  | Deferred tax hedging reserve in equity |  |  | Hedging reserve in equity |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
December 31, 2018 |  |  | (17,318 | ) |  |  | 16,636 |  |  |  | 1,541 |  |  |  | - |  |  |  | 1,541 |
Hedging assets with underlying investments |  | Derivative instruments (CCS) |  |  | Effect on profit or loss for the period Derivative instruments |  |  | Hedging reserve in equity before tax |  |  | Deferred tax hedging reserve in equity |  |  | Hedging reserve in equity |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
December 31, 2018 |  |  | 18,146 |  |  |  | 19,911 |  |  |  | (1,765 | ) |  |  | - |  |  |  | (1,765 | )
Hedging assets with underlying debt |  | Derivative instruments (Fwds) |  |  | Effect on profit or loss for the period Derivative instruments |  |  | Hedging reserve in equity before tax |  |  | Deferred tax hedging reserve in equity |  |  | Hedging reserve in equity |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
December 31, 2017 |  |  | 8,910 |  |  |  | 5,641 |  |  |  | 2,170 |  |  |  | - |  |  |  | 2,170 |
Hedging liabilities with underlying debt |  | Derivative instruments (CCS) |  |  | Effect on profit or loss for the period Derivative instruments |  |  | Hedging reserve in equity before tax |  |  | Deferred tax hedging reserve in equity |  |  | Hedging reserve in equity |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
December 31, 2017 |  |  | 17,128 |  |  |  | 33,696 |  |  |  | 41 |  |  |  | - |  |  |  | 41 |
Hedging liabilities with underlying investments |  | Derivative instruments (CCS) |  |  | Effect on profit or loss for the period Derivative instruments |  |  | Hedging reserve in equity before tax |  |  | Deferred tax hedging reserve in equity |  |  | Hedging reserve in equity |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
December 31, 2017 |  |  | (20,159 | ) |  |  | (20,256 | ) |  |  | 97 |  |  |  | - |  |  |  | 97 |
The balances in the “effect on profit or loss for the period” column consider the amounts reclassified from other comprehensive income to the statement of comprehensive income. Derivative contract maturities are detailed as follows:
Series |  | Contract amount |  |  | Currency |  |  | Maturity date |
|  | ThUS$ |  |  |  |  |  |  |
H |  |  | 155,214 |  |  |  | UF |  |  |  | 01/05/2023 |
O |  |  | 58,748 |  |  |  | UF |  |  |  | 02/01/2022 |
P |  |  | 134,228 |  |  |  | UF |  |  |  | 01/15/2028 |
The Company uses cross currency swap derivative instruments to hedge the possible financial risk associated with the volatility of the exchange rate associated with Chilean pesos and UF. The objective is to hedge the exchange rate financial risks associated with bonds payable. Hedges are documented and tested to measure their effectiveness. Based on a comparison of critical terms, hedging is highly effective, given that the hedged amount is consistent with obligations maintained for bonds denominated in Chilean pesos and UF. Likewise, hedging contracts are denominated in the same currencies and have the same expiration dates of bond principal and interest payments. Hedge Accounting The Company classifies derivative instruments as hedging that may include derivative or embedded derivatives either as fair value hedge derivative instruments, cash flow hedge derivative instruments, or hedge derivative instruments for net investment in a business abroad. a) Fair value hedge Changes in fair values of derivative instruments classified as fair value hedge derivative instruments are accounted for in gains and losses immediately along with any change in the fair value of the hedged item that is attributable to the risk being hedged.
b) Cash flow hedges Cash flow hedges cover exposure to the cash flow variations attributable to a risk associated with a specific transaction that is very likely to be executed, which may have material effects on the results of the Company. The Company documents the relationship between hedge instruments and the hedged item along with the objectives of its risk management and strategy to carry out different hedging transactions. In addition, upon commencement of the period hedged and then on a quarterly basis, the Company documents whether hedge instruments have been efficient and met the objective of hedging market fluctuations. For this purpose, we use the effectiveness test. The hedge instruments are classified as effective or not effective on the basis of the effectiveness test results. At present, hedges are classified as effective on the basis of the effectiveness tests. This note includes the detail of fair values of derivatives classified as hedging instruments.
| 13.4 | Financial liabilities
Other current and non-current financial liabilities As of December 31, 2018 and December 31, 2017, the detail is as follows:
|  |  |  |  | 31/12/2018 |  |  |  |  |  |  |  |  | 31/12/2017 |  |  |  |
|  | Current |  |  | Non-current |  |  | Total |  |  | Current |  |  | Non-current |  |  | Total |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Liabilities at amortized cost |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
- Bank borrowings |  |  | 300 |  |  |  | 68,870 |  |  |  | 69,170 |  |  |  | 163,568 |  |  |  | - |  |  |  | 163,568 |
- Obligations with the public (bonds) |  |  | 15,145 |  |  |  | 1,249,479 |  |  |  | 1,264,624 |  |  |  | 13,494 |  |  |  | 1,031,507 |  |  |  | 1,045,001 |
Derivative financial instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
- For hedging |  |  | 5,285 |  |  |  | 12,033 |  |  |  | 17,318 |  |  |  | 37,287 |  |  |  | - |  |  |  | 37,287 |
- At fair value through profit or loss |  |  | 2,855 |  |  |  | - |  |  |  | 2,855 |  |  |  | 5,979 |  |  |  | - |  |  |  | 5,979 |
Total |  |  | 23,585 |  |  |  | 1,330,382 |  |  |  | 1,353,967 |  |  |  | 220,328 |  |  |  | 1,031,507 |  |  |  | 1,251,835 |
Current and non-current bank borrowings As of December 31, 2018 and December 31, 2017, the detail is as follows:
|  | 12/31/2018 |  |  | 12/31/2017 |
|  | ThUS$ |  |  | ThUS$ |
Long-term bank borrowings |  |  | 68,870 |  |  |  | - |
Short-term bank borrowings |  |  | - |  |  |  | 163,568 |
Current portion of long-term loans |  |  | 300 |  |  |  | - |
Short-term borrowings and current portion of long-term borrowings |  |  | 69,170 |  |  |  | 163,568 |
Total bank borrowings |  |  | 69,170 |  |  |  | 163,568 |
| a) | Bank borrowings, current:
As of December 31, 2018 and December 31, 2017, the detail of this caption is as follows:
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Currency or |  |  |  |  |  |  |  |  |  |  |  | Nominal |
| Debtor |  |  |  |  |  |  |  |  | Creditor |  |  |  |  |  | adjustment |  |  |  |  |  |  |  |  | Effective |  |  | rate |
Tax ID No | Company |  |  | Country |  |  | Tax ID No, |  |  | Financial institution |  |  | Country |  |  | index |  |  | Repayment |  |  | Vencimiento |  |  | rate |  |  |  |
93,007,000-9 |  | SQM.S.A. |  |  |  | Chile |  |  |  | 0-E |  |  |  | Scotiabank Cayman |  |  |  | USA |  |  |  | US$ |  |  |  | Upon maturity |  |  |  | 05/29/2023 |  |  |  | 3.60 | % |  |  | 3.98 | %
Foreign |  | Nitratos Naturais do Chile Lim |  |  |  | Brazil |  |  |  | 0-E |  |  |  | Banco ITAU Brasil |  |  |  | Brasil |  |  |  | BRL |  |  |  | Upon maturity |  |  |  | 01/31/2019 |  |  |  | 5.17 | % |  |  | 5.17 | %
Foreign |  | SQM Brasil Limitada |  |  |  | Brazil |  |  |  | 0-E |  |  |  | Banco ITAU Brasil |  |  |  | Brasil |  |  |  | BRL |  |  |  | Upon maturity |  |  |  | 01/31/2019 |  |  |  | 5.5 | % |  |  | 5.5 | %
|  |  |  |  | 12/31/2018 |  |  | 12/31/2018 |
Debtor |  | Creditor |  |  | Nominal amounts |  |  | Current amounts |
Company |  | Financial institution |  |  | Up to 90 days ThUS$ |  |  | 90 days to 1 year ThUS$ |  |  | Total ThUS$ |  |  | Up to 90 days ThUS$ |  |  | 90 days to 1 year ThUS$ |  |  | Subtotal ThUS$ |  |  | Borrowing costs ThUS$ |  |  | Total ThUS$ |
SQM S.A. |  |  | Scotiabank Cayman |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 248 |  |  |  | 248 |  |  |  | - |  |  |  | 248 |
Nitratos Naturais do Chile Lim |  |  | Banco ITAU Brasil |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 11 |  |  |  | - |  |  |  | 11 |  |  |  | - |  |  |  | 11 |
SQM Brasil Limitada |  |  | Banco ITAU Brasil |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 41 |  |  |  | - |  |  |  | 41 |  |  |  | - |  |  |  | 41 |
Total |  |  |  |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 52 |  |  |  | 248 |  |  |  | 300 |  |  |  | - |  |  |  | 300 |
Debtor |  |  | Creditor |  |  | Currency or Adjustment index |  |  | Repayment |  |  | Effective rate |  |  | Nominal rate |
Tax ID No |  | Company |  |  | Country |  |  | Tax ID No, |  |  | Financial institution |  |  | Country |  |  |  |  |  |  |  |  |  |  |  |  |
93,007,000-9 |  |  | SQM.S.A. |  |  |  | CHILE |  |  |  | 97,018,000-1 |  |  |  | Scotiabank Sud Americano |  |  |  | CHILE |  |  |  | US$ |  |  |  | Upon maturity |  |  |  | 1.63 | % |  |  | 1.63 | %
93,007,000-9 |  |  | SQM.S.A. |  |  |  | CHILE |  |  |  | 97,018,000-1 |  |  |  | Scotiabank Sud Americano |  |  |  | CHILE |  |  |  | US$ |  |  |  | Upon maturity |  |  |  | 1.73 | % |  |  | 1.73 | %
93,007,000-9 |  |  | SQM.S.A. |  |  |  | CHILE |  |  |  | 97,018,000-1 |  |  |  | Scotiabank Sud Americano |  |  |  | CHILE |  |  |  | US$ |  |  |  | Upon maturity |  |  |  | 1.73 | % |  |  | 1.73 | %
93,007,000-9 |  |  | SQM S.A. |  |  |  | CHILE |  |  |  | 97,018,000-1 |  |  |  | Banco Estado |  |  |  | CHILE |  |  |  | US$ |  |  |  | Upon maturity |  |  |  | 1.64 | % |  |  | 1.64 | %
93,007,000-9 |  |  | SQM S.A. |  |  |  | CHILE |  |  |  | 97,018,000-1 |  |  |  | Banco Estado |  |  |  | CHILE |  |  |  | US$ |  |  |  | Upon maturity |  |  |  | 1.67 | % |  |  | 1.67 | %
93,007,000-9 |  |  | SQM S.A. |  |  |  | CHILE |  |  |  | 97,018,000-1 |  |  |  | Banco Estado |  |  |  | CHILE |  |  |  | US$ |  |  |  | Upon maturity |  |  |  | 1.67 | % |  |  | 1.67 | %
79,626,800-K |  |  | SQM Salar S.A. |  |  |  | CHILE |  |  |  | 97,018,000-1 |  |  |  | Banco Estado |  |  |  | CHILE |  |  |  | US$ |  |  |  | Upon maturity |  |  |  | 1.91 | % |  |  | 1.91 | %
79,626,800-K |  |  | SQM Salar S.A. |  |  |  | CHILE |  |  |  | 97,018,000-1 |  |  |  | Scotiabank Sud Americano |  |  |  | CHILE |  |  |  | US$ |  |  |  | Upon maturity |  |  |  | 1.94 | % |  |  | 1.94 | %
79,947,100-0 |  |  | SQM Industrial S.A. |  |  |  | CHILE |  |  |  | 97,030,000-7 |  |  |  | Banco Estado |  |  |  | CHILE |  |  |  | US$ |  |  |  | Upon maturity |  |  |  | 1.74 | % |  |  | 1.74 | %
79,947,100-0 |  |  | SQM Industrial S.A. |  |  |  | CHILE |  |  |  | 97,030,000-7 |  |  |  | Banco Estado |  |  |  | CHILE |  |  |  | US$ |  |  |  | Upon maturity |  |  |  | 1.65 | % |  |  | 1.65 | %
|  |  |  |  | 12/31/2017 |  |  | 12/31/2017 |
Debtor |  | Creditor |  |  | Nominal amounts |  |  | Current amounts |
Company |  | Financial institution |  |  | Up to 90 days ThUS$ |  |  | 90 days to 1 year ThUS$ |  |  | Total ThUS$ |  |  | Up to 90 days ThUS$ |  |  | 90 days to 1 year ThUS$ |  |  | Subtotal ThUS$ |  |  | Borrowing costs ThUS$ |  |  | Total ThUS$ |
SQM S.A. |  |  | Scotiabank Sud Americano |  |  |  | - |  |  |  | 20,000 |  |  |  | 20,000 |  |  |  | - |  |  |  | 20,137 |  |  |  | 20,137 |  |  |  | - |  |  |  | 20,137 |
SQM S.A. |  |  | Scotiabank Sud Americano |  |  |  | - |  |  |  | 17,000 |  |  |  | 17,000 |  |  |  | - |  |  |  | 17,140 |  |  |  | 17,140 |  |  |  | - |  |  |  | 17,140 |
SQM S.A. |  |  | Scotiabank Sud Americano |  |  |  | - |  |  |  | 3,000 |  |  |  | 3,000 |  |  |  | - |  |  |  | 3,025 |  |  |  | 3,025 |  |  |  | - |  |  |  | 3,025 |
SQM S.A. |  |  | Banco Estado |  |  |  | 15,000 |  |  |  | - |  |  |  | 15,000 |  |  |  | 15,011 |  |  |  | - |  |  |  | 15,011 |  |  |  | - |  |  |  | 15,011 |
SQM S.A. |  |  | Banco Estado |  |  |  | 15,000 |  |  |  | - |  |  |  | 15,000 |  |  |  | 15,011 |  |  |  | - |  |  |  | 15,011 |  |  |  | - |  |  |  | 15,011 |
SQM S.A. |  |  | Banco Estado |  |  |  | 15,000 |  |  |  | - |  |  |  | 15,000 |  |  |  | 15,011 |  |  |  | - |  |  |  | 15,011 |  |  |  | - |  |  |  | 15,011 |
SQM Salar S.A. |  |  | Banco Estado |  |  |  | - |  |  |  | 20,000 |  |  |  | 20,000 |  |  |  | - |  |  |  | 20,071 |  |  |  | 20,071 |  |  |  | - |  |  |  | 20,071 |
SQM Salar S.A. |  |  | Scotiabank Sud Americano |  |  |  | - |  |  |  | 20,000 |  |  |  | 20,000 |  |  |  | - |  |  |  | 20,072 |  |  |  | 20,072 |  |  |  | - |  |  |  | 20,072 |
SQM Industrial S.A. |  |  | Banco Estado |  |  |  | - |  |  |  | 20,000 |  |  |  | 20,000 |  |  |  | - |  |  |  | 20,064 |  |  |  | 20,064 |  |  |  | - |  |  |  | 20,064 |
SQM Industrial S.A. |  |  | Banco Estado |  |  |  | 18,000 |  |  |  | - |  |  |  | 18,000 |  |  |  | 18,026 |  |  |  | - |  |  |  | 18,026 |  |  |  | - |  |  |  | 18,026 |
Total |  |  |  |  |  |  | 63,000 |  |  |  | 100,000 |  |  |  | 163,000 |  |  |  | 63,059 |  |  |  | 100,509 |  |  |  | 163,568 |  |  |  | - |  |  |  | 163,568 |
| b) | Unsecured obligations, current:
As of December 31, 2018 and December 31, 2017, the detail of current unsecured interest-bearing obligations is composed of promissory notes and bonds, as follows: Bonds
Tax ID No. |  | Company |  |  | Country |  |  | Number of registration or ID of the instrument |  |  | Series |  |  | Maturity date |  |  | Currency or adjustment index |  |  | Payment of interest |  |  | Repayment |  |  | Effective rate |  |  | Nominal rate |
93,007,000-9 |  |  | SQM S.A. |  |  |  | CHILE |  |  |  | - |  |  |  | MMUS$250 |  |  |  | 4/21/2019 |  |  |  | US$ |  |  |  | Semiannual |  |  |  | Upon maturity |  |  |  | 0.95 | % |  |  | 5,50 | %
93,007,000-9 |  |  | SQM S.A. |  |  |  | CHILE |  |  |  | - |  |  |  | MMUS$250 |  |  |  | 1/28/2019 |  |  |  | US$ |  |  |  | Semiannual |  |  |  | Upon maturity |  |  |  | 2,75 | % |  |  | 4,38 | %
93,007,000-9 |  |  | SQM S.A. |  |  |  | CHILE |  |  |  | - |  |  |  | MMUS$300 |  |  |  | 4/03/2019 |  |  |  | US$ |  |  |  | Semiannual |  |  |  | Upon maturity |  |  |  | 1,77 | % |  |  | 3,63 | %
93,007,000-9 |  |  | SQM S.A. |  |  |  | CHILE |  |  |  | 564 |  |  |  | H |  |  |  | 1/05/2019 |  |  |  | UF |  |  |  | Semiannual |  |  |  | Semiannual |  |  |  | 1,90 | % |  |  | 4,90 | %
93,007,000-9 |  |  | SQM S.A. |  |  |  | CHILE |  |  |  | 699 |  |  |  | O |  |  |  | 2/01/2019 |  |  |  | UF |  |  |  | Semiannual |  |  |  | Upon maturity |  |  |  | 2,60 | % |  |  | 3,80 | %
93,007,000-9 |  |  | SQM S.A. |  |  |  | CHILE |  |  |  | 563 |  |  |  | P |  |  |  | 1/15/2019 |  |  |  | UF |  |  |  | Semiannual |  |  |  | Upon maturity |  |  |  | 3,07 | % |  |  | 3,25 | %
93.007.000-9 |  |  | SQM S.A. |  |  |  | Chile |  |  |  | 700 |  |  |  | Q |  |  |  | 6/01/2019 |  |  |  | UF |  |  |  | Semiannual |  |  |  | Upon maturity |  |  |  | 3,34 | % |  |  | 3,45 | %
|  |  |  |  |  |  |  | 12/31/2018 |  |  |  |  |  |  |  |  | 12/31/2018 |  |  |  |
|  |  |  |  |  |  |  | Nominal maturities |  |  |  |  |  |  |  |  | Current maturities |  |  |  |
Company |  | Country |  |  | Series |  |  | Up to 90 days |  |  | 91 days to 1 year |  |  | Total |  |  | Up to 90 days |  |  | 91 days to 1 year |  |  | Subtotal |  |  | Bond issuance costs |  |  | Total |
|  |  |  |  |  |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
SQM S.A. |  |  | CHILE |  |  |  | ThUS$250,000 |  |  |  | 2,674 |  |  |  | - |  |  |  | 2,674 |  |  |  | 2,674 |  |  |  | - |  |  |  | 2,674 |  |  |  | (386 | ) |  |  | 2,288 |
SQM S.A. |  |  | CHILE |  |  |  | ThUS$250,000 |  |  |  | - |  |  |  | 4,648 |  |  |  | 4,648 |  |  |  | - |  |  |  | 4,648 |  |  |  | 4,648 |  |  |  | (433 | ) |  |  | 4,215 |
SQM S.A. |  |  | CHILE |  |  |  | ThUS$300,000 |  |  |  | 2,658 |  |  |  | - |  |  |  | 2,658 |  |  |  | 2,658 |  |  |  | - |  |  |  | 2,658 |  |  |  | (614 | ) |  |  | 2,044 |
SQM S.A. |  |  | CHILE |  |  |  | H |  |  |  | - |  |  |  | 3,756 |  |  |  | 3,756 |  |  |  | - |  |  |  | 3,756 |  |  |  | 3,756 |  |  |  | (139 | ) |  |  | 3,617 |
SQM S.A. |  |  | CHILE |  |  |  | O |  |  |  | - |  |  |  | 934 |  |  |  | 934 |  |  |  | - |  |  |  | 934 |  |  |  | 934 |  |  |  | (67 | ) |  |  | 867 |
SQM S.A. |  |  | CHILE |  |  |  | P |  |  |  | - |  |  |  | 1,784 |  |  |  | 1,784 |  |  |  | - |  |  |  | 1,784 |  |  |  | 1,784 |  |  |  | (12 | ) |  |  | 1,772 |
SQM S.A. |  |  | CHILE |  |  |  | Q |  |  |  | 342 |  |  |  | - |  |  |  | 342 |  |  |  | 342 |  |  |  | - |  |  |  | 342 |  |  |  | - |  |  |  | 342 |
Total |  |  |  |  |  |  |  |  |  |  | 5,674 |  |  |  | 11,122 |  |  |  | 16,796 |  |  |  | 5,674 |  |  |  | 11,122 |  |  |  | 16,796 |  |  |  | (1,651 | ) |  |  | 15,145 |
Effective rates of bonds in Chilean pesos and UF are expressed and calculated in U.S. dollars based on the flows agreed in Cross Currency Swap Agreements.
Tax ID No. |  | Company |  |  | Country |  |  | Number of registration or ID of the instrument |  |  | Series |  |  | Maturity date |  |  | Currency or adjustment index |  |  | Payment of interest |  |  | Repayment |  |  | Effective rate |  |  | Nominal rate |
93,007,000-9 |  |  | SQM S.A. |  |  |  | CHILE |  |  |  | - |  |  |  | ThUS$250,000 |  |  |  | 04/21/2018 |  |  |  | US$ |  |  |  | Semiannual |  |  |  | Upon maturity |  |  |  | 1.47 | % |  |  | 5.50 | %
93,007,000-9 |  |  | SQM S.A. |  |  |  | CHILE |  |  |  | - |  |  |  | ThUS$250,000 |  |  |  | 01/28/2018 |  |  |  | US$ |  |  |  | Semiannual |  |  |  | Upon maturity |  |  |  | 3.17 | % |  |  | 4.38 | %
93,007,000-9 |  |  | SQM S.A. |  |  |  | CHILE |  |  |  | - |  |  |  | ThUS$300,000 |  |  |  | 04/03/2018 |  |  |  | US$ |  |  |  | Semiannual |  |  |  | Upon maturity |  |  |  | 2.12 | % |  |  | 3.63 | %
93,007,000-9 |  |  | SQM S.A. |  |  |  | CHILE |  |  |  | 564 |  |  |  | H |  |  |  | 01/05/2018 |  |  |  | UF |  |  |  | Semiannual |  |  |  | Semiannual |  |  |  | 2.18 | % |  |  | 4.90 | %
93,007,000-9 |  |  | SQM S.A. |  |  |  | CHILE |  |  |  | 699 |  |  |  | O |  |  |  | 02/01/2018 |  |  |  | UF |  |  |  | Semiannual |  |  |  | Upon maturity |  |  |  | 2.80 | % |  |  | 3.80 | %
|  |  |  |  |  |  |  | 12/31/2017 |  |  | 12/31/2017 |
|  |  |  |  |  |  |  | Nominal maturities |  |  | Current maturities |
Company |  | Country |  |  | Series |  |  | Up to 90 days |  |  | 91 days to 1 year |  |  | Total |  |  | Up to 90 days |  |  | 91 days to 1 year |  |  | Subtotal |  |  | Bond issuance costs |  |  | Total |
|  |  |  |  |  |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
SQM S.A. |  |  | CHILE |  |  |  | ThUS$250,000 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 2,674 |  |  |  | 2,674 |  |  |  | (385 | ) |  |  | 2,289 |
SQM S.A. |  |  | CHILE |  |  |  | ThUS$250,000 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 4,648 |  |  |  | - |  |  |  | 4,648 |  |  |  | (433 | ) |  |  | 4,215 |
SQM S.A. |  |  | CHILE |  |  |  | ThUS$300,000 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 2,658 |  |  |  | 2,658 |  |  |  | (615 | ) |  |  | 2,043 |
SQM S.A. |  |  | CHILE |  |  |  | H |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 4,127 |  |  |  | - |  |  |  | 4,127 |  |  |  | (139 | ) |  |  | 3,988 |
SQM S.A. |  |  | CHILE |  |  |  | O |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1,026 |  |  |  | - |  |  |  | 1,026 |  |  |  | (67 | ) |  |  | 959 |
Total |  |  |  |  |  |  |  |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 9,801 |  |  |  | 5,332 |  |  |  | 15,133 |  |  |  | (1,639 | ) |  |  | 13,494 |
Effective rates of bonds in Chilean pesos and UF are expressed and calculated in U.S. dollars based on the flows agreed in Cross Currency Swap Agreements.
| c) | Classes of interest-bearing loans, non-current
The following table shows the details of bank loans that accrue non-current interest as of December 31, 2018. As of December 31, there were no loans:
Debtor |  |  | Creditor |  |  | Currency or adjustment index |  |  | Type of amortization |  |  | Effective rate |  |  | Nominal rate |
Chilean Tax ID |  |  | Company |  |  | Country |  |  | Chilean Tax ID |  |  | Financial institution |  |  | Country |  |  |  |  |  |  |  |  |  |  |  |  |
| 93,007,000-9 |  |  |  | SQM.S.A. |  |  |  | Chile |  |  |  | 0-E |  |  |  | Scotiabank Cayman |  |  |  | USA |  |  |  | USD |  |  |  | Maturity |  |  |  | 3.98% |  |  |  | 3.98% |
|  |  |  |  | 12/31/2018 |  |  | 12/31/2018 |
Creditor |  | Creditor |  |  | Nominal non-current maturities |  |  | Non-current maturities |
Company |  | Financial institution |  |  | Between 1 and 2 ThUS$ |  |  | Between 2 and 3 ThUS$ |  |  | Between 3 and 4 ThUS$ |  |  | Total ThUS$ |  |  | Between 1 and 2 ThUS$ |  |  | Between 2 and 3 ThUS$ |  |  | Between 3 and 4 ThUS$ |  |  | Subtotal ThUS$ |  |  | Costs of obtaining loans ThUS$ |  |  | Total ThUS$ |
SQM S.A. |  |  | Scotiabank Cayman |  |  |  |  |  |  |  | - |  |  |  | 70,000 |  |  |  | 70,000 |  |  |  | - |  |  |  | - |  |  |  | 70,000 |  |  |  | 70,000 |  |  |  | (1,130 | ) |  |  | 68,870 |
Total |  |  |  |  |  |  | - |  |  |  | - |  |  |  | 70,000 |  |  |  | 70,000 |  |  |  | - |  |  |  | - |  |  |  | 70,000 |  |  |  | 70,000 |  |  |  | (1,130 | ) |  |  | 68,870 |
| d) | Non-current unsecured interest-bearing bonds
The breakdown of non-current unsecured interest-bearing bonds as of December 31, 2018 and December 31, 2017 is detailed as follows:
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Periodicity |  |  |  |  |  |  |
Tax ID No. |  | Company |  |  | Country |  |  | Number of registration or ID of the instrument |  |  | Series |  |  | Maturity date |  |  | Currency or adjustment index |  |  | Payment of interest |  |  | Repayment |  |  | Effective rate |  |  | Nominal rate |
93.007.000-9 |  |  | SQM S.A. |  |  |  | CHILE |  |  |  | - |  |  |  | ThUS$250,000 |  |  |  | 04/21/2020 |  |  |  | US$ |  |  |  | Semiannual |  |  |  | Upon maturity |  |  |  | 5.50 | % |  |  | 5.50 | %
93.007.000-9 |  |  | SQM S.A. |  |  |  | CHILE |  |  |  | - |  |  |  | ThUS$250,000 |  |  |  | 01/28/2025 |  |  |  | US$ |  |  |  | Semiannual |  |  |  | Upon maturity |  |  |  | 4.38 | % |  |  | 4.38 | %
93.007.000-9 |  |  | SQM S.A. |  |  |  | CHILE |  |  |  | - |  |  |  | ThUS$300,000 |  |  |  | 04/03/2023 |  |  |  | US$ |  |  |  | Semiannual |  |  |  | Upon maturity |  |  |  | 3.63 | % |  |  | 3.63 | %
93.007.000-9 |  |  | SQM S.A. |  |  |  | CHILE |  |  |  | 564 |  |  |  | H |  |  |  | 01/05/2030 |  |  |  | UF |  |  |  | Semiannual |  |  |  | Semiannual |  |  |  | 4.90 | % |  |  | 4.90 | %
93.007.000-9 |  |  | SQM S.A. |  |  |  | CHILE |  |  |  | 699 |  |  |  | O |  |  |  | 02/01/2033 |  |  |  | UF |  |  |  | Semiannual |  |  |  | Upon maturity |  |  |  | 3.80 | % |  |  | 5.50 | %
93.007.000-9 |  |  | SQM S.A. |  |  |  | CHILE |  |  |  | 563 |  |  |  | P |  |  |  | 01/15/2028 |  |  |  | UF |  |  |  | Semiannual |  |  |  | Upon maturity |  |  |  | 3.25 | % |  |  | 3.25 | %
93.007.000-9 |  |  | SQM S.A. |  |  |  | CHILE |  |  |  | 700 |  |  |  | Q |  |  |  | 06/01/2038 |  |  |  | UF |  |  |  | Semiannual |  |  |  | Upon maturity |  |  |  | 3.45 | % |  |  | 3.45 | %
Nominal non-current maturities 12/31/2018 |  |  | Non-current maturities 12/31/2018 |
Series |  | Over 1 year to 2 |  |  | Over 2 years to 3 |  |  | Over 3 Years to 4 |  |  | Over 4 Years to 5 |  |  | Over 5 years |  |  | Total |  |  | Over 1 year to 2 |  |  | Over 2 years to 3 |  |  | Over 3 Years to 4 |  |  | Over 4 Years to 5 |  |  | Over 5 years |  |  | Subtotal |  |  | Bond issuance costs |  |  | Total |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
MUS$250 |  |  | 250,000 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 250,000 |  |  |  | 250,000 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 250,000 |  |  |  | (131 | ) |  |  | 249,869 |
MUS$250 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 250,000 |  |  |  | 250,000 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 250,000 |  |  |  | 250,000 |  |  |  | (2,202 | ) |  |  | 247,798 |
MUS$300 |  |  | - |  |  |  | - |  |  |  | 300,000 |  |  |  | - |  |  |  | - |  |  |  | 300,000 |  |  |  | - |  |  |  | - |  |  |  | 300,000 |  |  |  | - |  |  |  | - |  |  |  | 300,000 |  |  |  | (2,006 | ) |  |  | 297,994 |
H |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 158,704 |  |  |  | 158,704 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 158,704 |  |  |  | 158,704 |  |  |  | (1,392 | ) |  |  | 157,312 |
O |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 59,514 |  |  |  | 59,514 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 59,514 |  |  |  | 59,514 |  |  |  | (878 | ) |  |  | 58,636 |
P |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 119,028 |  |  |  | 119,028 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 119,028 |  |  |  | 119,028 |  |  |  | (101 | ) |  |  | 118,927 |
Q |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 119,028 |  |  |  | 119,028 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 119,028 |  |  |  | 119,028 |  |  |  | (85 | ) |  |  | 118,943 |
Total |  |  | 250,000 |  |  |  | - |  |  |  | 300,000 |  |  |  | - |  |  |  | 706,274 |  |  |  | 1,256,274 |  |  |  | 250,000 |  |  |  | - |  |  |  | 300,000 |  |  |  | - |  |  |  | 706,274 |  |  |  | 1,256,274 |  |  |  | (6,795 | ) |  |  | 1,249,479 |
As of December 31, 2018 and December 31, 2017, the breakdown of unsecured interest-bearing liabilities, non-current is as follows:
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Periodicity |  |  |  |  |  |  |
Tax ID No, |  | Company |  |  | Country |  |  | Number of registration or ID of the instrument |  |  | Series |  |  | Maturity date |  | Currency or adjustment index | Payment of interest |  |  | Repayment |  |  | Effective rate |  |  | Nominal rate |
93.007.000-9 |  |  | SQM S.A. |  |  |  | CHILE |  |  |  | - |  |  |  | MMUS$250 |  |  |  | 04/21/2020 |  | US$ |  | Semiannual |  |  |  | Upon maturity |  |  |  | 5.50 | % |  |  | 5.50 | %
93.007.000-9 |  |  | SQM S.A. |  |  |  | CHILE |  |  |  | - |  |  |  | MMUS$250 |  |  |  | 01/28/2025 |  | US$ |  | Semiannual |  |  |  | Upon maturity |  |  |  | 4.38 | % |  |  | 4.38 | %
93.007.000-9 |  |  | SQM S.A. |  |  |  | CHILE |  |  |  | - |  |  |  | MMUS$300 |  |  |  | 04/03/2023 |  | US$ |  | Semiannual |  |  |  | Upon maturity |  |  |  | 3.63 | % |  |  | 3.63 | %
93.007.000-9 |  |  | SQM S.A. |  |  |  | CHILE |  |  |  | 564 |  |  |  | H |  |  |  | 01/05/2030 |  | UF |  | Semiannual |  |  |  | Semiannual |  |  |  | 4.90 | % |  |  | 6.01 | %
93.007.000-9 |  |  | SQM S.A. |  |  |  | CHILE |  |  |  | 699 |  |  |  | O |  |  |  | 01/02/2033 |  | UF |  | Semiannual |  |  |  | Upon maturity |  |  |  | 3.80 | % |  |  | 3.80 | %
Nominal non-current maturities 12/31/2017 |  |  | Non-current maturities 12/31/2017 |
Series |  | Over 1 year to 2 |  |  | Over 2 years to 3 |  |  | Over 3 Years to 4 |  |  | Over 4 Years to 5 |  |  | Over 5 years |  |  | Total |  |  | Over 1 year to 2 |  |  | Over 2 years to 3 |  |  | Over 3 Years to 4 |  |  | Over 4 Years to 5 |  |  | Over 5 years |  |  | Subtotal |  |  | Bond issuance costs |  |  | Total |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
MUS$250 |  |  | 250,000 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 250,000 |  |  |  | 250,000 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 250,000 |  |  |  | (517 | ) |  |  | 249,483 |
MUS$250 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 250,000 |  |  |  | 250,000 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 250,000 |  |  |  | 250,000 |  |  |  | (2,636 | ) |  |  | 247,364 |
MUS$300 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 300,000 |  |  |  | 300,000 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 300,000 |  |  |  | 300,000 |  |  |  | (2,618 | ) |  |  | 297,382 |
H |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 174,367 |  |  |  | 174,367 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 174,367 |  |  |  | 174,367 |  |  |  | (1,532 | ) |  |  | 172,835 |
O |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 65,388 |  |  |  | 65,388 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 65,388 |  |  |  | 65,388 |  |  |  | (945 | ) |  |  | 64,443 |
Total |  |  | 250,000 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 789,755 |  |  |  | 1,039,755 |  |  |  | 250,000 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 789,755 |  |  |  | 1,039,755 |  |  |  | (8,248 | ) |  |  | 1,031,507 |
| e) | Additional information
Bonds On December 31, 2018 and December 31, 2017, short term bonds of ThUS$15,145 and ThUS$13,494 respectively were classified as short-term, consisting of the current portion due plus accrued interest to date; debt is presented net of bond issuance costs. The non-current portion consisted of ThUS$1,249,479 on December 31, 2018 and ThUS$1,031,507 on December 31, 2017, corresponding to the issuance series H bonds second issue single series bonds (ThUS$250), series M bonds, series O bonds, third issue single series bonds (ThUS$300) and fourth issue single series bonds (ThUS$250), series P bonds and series Q bonds, net of bond issuance costs As of December 31, 2018 and, 2017, the details of each issuance are as follows: Series “C” bonds On January 24, 2006, the Company placed Series C bonds for UF 3,000,000 (ThUS$101,918) at an annual rate of 4.00%. On July 5, 2017, the Series C bond was prepaid. As of December 31, 2018, and December 31, 2017, the Company has made the following payments with a charge to the Series C bonds:
Payments made |  | 12/31/2018 |  |  | 12/31/2017 |  |  | 12/31/2016 |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Principal payment |  |  | - |  |  |  | 57,290 |  |  |  | 5,729 |
Interest payment |  |  | - |  |  |  | 1,515 |  |  |  | 3,275 |
Serie “H” bonds On January 13, 2009, the Company placed two bond series in the domestic market. The first was Series H for UF 4,000,000 (ThUS$139,216) at an annual interest rate of 4.9%, with a term of 21 years and payment of the principal beginning in 2019. As of December 31, 2018 , and December 31, 2017 , the Company has made the following payments with a charge to the Series H bonds:
Payments made |  | 12/31/2018 ThUS$ |  |  | 12/31/2017 ThUS$ |  |  | 12/31/2016 ThUS$ |
Payments of interest, Series H bonds |  |  | 8,325 |  |  |  | 7,691 |  |  |  | 7,289 |
Single series bonds, second issue ThUS$250,000 On April 21, 2010, the Company informed the CMF of its placement in international markets of an unsecured bond of ThUS$250,000 with a maturity of 10 years beginning on the aforementioned date with an annual interest rate of 5.5% and destined to refinance long-term liabilities. As of December 31, 2018, and December 31, 2017, the detail of payments charged to the line of single series bonds, second issue is as follows:
Payments made |  | 12/31/2018 ThUS$ |  |  | 12/31/2017 ThUS$ |  |  | 12/31/2016 ThUS$ |
Interest payment |  |  | 13,750 |  |  |  | 13,750 |  |  |  | 13,750 |
Series “M” and “O” bonds On April 4, 2012, the Company placed two bond series in the domestic market. Series M for UF 1,000,000 (ThUS$46,601) was placed at a term of 5 years with a single payment at the maturity of the term and an annual interest rate of 3.3%. On February 1, 2017, the M bond was canceled .
Payments made |  | 12/31/2018 ThUS$ |  |  | 12/31/2017 ThUS$ |  |  | 12/31/2016 ThUS$ |
Principal payment Series M bonds |  |  | - |  |  |  | 40,726 |  |  |  | - |
Payment of interest, Series M bonds |  |  | - |  |  |  | 667 |  |  |  | 1,242 |
Series O for UF 1,500,000 (ThUS$69,901) was placed at a term of 21 years with a single payment at the maturity of the term and an annual interest rate of 3.80%. As of December 31, 2018, and December 31, 2017the Company has made the following payments with a charge to the Series O bonds:
Payments made |  | 12/31/2018 ThUS$ |  |  | 12/31/2017 ThUS$ |  |  | 12/31/2017 ThUS$ |
Payment of interest, Series O bonds |  |  | 2,457 |  |  |  | 2,301 |  |  |  | 2,142 |
Single series bonds, third issue ThUS$300,000 On April 3, 2013, the Company issued a non-guaranteed bond in the United States with a value of US$300 million. The bond is for a 10-year term with an annual coupon rate of 3.625% and an annual yield of 3.716%. This rate equates to a difference of 180 basis points to comparable US Treasury bonds. The funds raised will be used to refinance long term liabilities and finance general corporate objectives. As of December 31, 2018, and December 31, 2017, the following payments have been made with a debit to the line of single-series bonds, third issue:
Payments made |  | 12/31/2018 ThUS$ |  |  | 12/31/2017 ThUS$ |  |  | 12/31/2016 ThUS$ |
Payment of interest |  |  | 10,875 |  |  |  | 10,875 |  |  |  | 10,875 |
Single series bonds, fourth issuance ThUS$250,000 On October 23, 2014, the Company informed the CMF that Sociedad Química y Minera de Chile S.A. had agreed to issue and place unsecured bonds of ThUS$250,000 in international markets. These mature in 2025 and have annual interest rate of 4.375%, equivalent to a spread of 215 basis points on comparable US Treasury bonds, which were offered to investors at a price of 99.410% with respect to capital. The aforementioned agreement was agreed on October 23, 2014 and the issuance and placement of such bonds was performed in conformity with the provisions of Rule 144A of the US Securities Act of 1933 and these bonds will not be publicly offered in Chile. As of December 31, 2018, and December 31, 2017, the following payments have been made.
Payments made |  | 12/31/2018 ThUS$ |  |  | 12/31/2017 ThUS$ |  |  | 12/31/2016 ThUS$ |
Payment of interest |  |  | 10,938 |  |  |  | 10,938 |  |  |  | 10,938 |
Series “P” bonds On April 5, 2018, the Company informed the Financial Markets Commission that it had authorized the placement on the stock market of the Series “P” bond with a value of UF 3 million, with a charge to the 10 year Bonds Line registered in the FMC Securities Registry dated December 31, 2008 under number 563. The Bonds (i) mature on January 15, 2028; (ii) will accrue on the unpaid principal, expressed in UF, at an annual interest rate of 3.25% from January 15, 2018; and (iii) can be called early by the Company as of the date of placement, that is, as of April 5, 2018.
Payments made |  | 12/31/2018 ThUS$ |
Payment of interest |  |  | 2,027 |
Series Q Bonds On October 31, 2018, the issuance of Series Q bonds (the "Bonds") was authorized in the general stock market for the sum of UF 3,000,000, which were issued with a charge to the 30-year Bonds Line registered in the Securities Registry of your Commission on February 14, 2012 under number 700. The Bonds (i) mature on the first day of June 2038; (ii) will earn an interest rate of 3.45% per annum on the outstanding capital, expressed in Unidades de Fomento, as of June 1, 2018; and (iii) may be redeemed early by the Company as of the placement date, that is, as of November 8, 2018. On November 8, 2018, all the Series Q Bonds have been placed and sold to Euroamerica S.A. for a total amount of $83,567,623,842, which was paid in full and in cash by Euroamerica S.A. to the Company. The funds obtained from the aforementioned placement will be used approximately 90% to finance the expansion program of lithium, potassium nitrate and iodine plants in Chile; the remainder will be used for the investment plan of the Company and its subsidiaries, and to finance working capital.
Payments made |  | 12/31/2018 ThUS$ |
Payment of interest |  |  | 319 |
13.5 Trade and other payables
|  | 12/31/2018 |  |  | 12/31/2017 |
|  | Current |  |  | Non-current |  |  | Total |  |  | Current |  |  | Non-current |  |  | Total |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Accounts payable |  |  | 163,373 |  |  |  | - |  |  |  | 163,373 |  |  |  | 195,858 |  |  |  | - |  |  |  | 195,858 |
Other accounts payable |  |  | 378 |  |  |  | - |  |  |  | 378 |  |  |  | 422 |  |  |  | - |  |  |  | 422 |
Total |  |  | 163,751 |  |  |  | - |  |  |  | 163,751 |  |  |  | 196,280 |  |  |  | - |  |  |  | 196,280 |
As of December 31, 2018 and December 31, 2017, the balance of current and past due suppliers is as follows: Suppliers current on all payments
|  | Amounts according to payment periods as of 12/31/2018 |  |  |  |
|  | Up to 30 |  |  | 31 - 60 |  |  | 61 - 90 |  |  | 91 - 120 |  |  | 121 - 365 |  |  | 366 and more |  |  | Total |
Type of Supplier |  | Days |  |  | days |  |  | Days |  |  | days |  |  | days |  |  | days |  |  | ThUS$ |
Goods |  |  | 48,969 |  |  |  | 1,919 |  |  |  | 912 |  |  |  | 25 |  |  |  | 278 |  |  |  | 2 |  |  |  | 52,105 |
Services |  |  | 37,376 |  |  |  | 314 |  |  |  | 157 |  |  |  | 107 |  |  |  | 19 |  |  |  | 35 |  |  |  | 38,008 |
Others |  |  | 54,978 |  |  |  | 161 |  |  |  | 20 |  |  |  | - |  |  |  | - |  |  |  | 3 |  |  |  | 55,162 |
Total |  |  | 141,323 |  |  |  | 2,394 |  |  |  | 1,089 |  |  |  | 132 |  |  |  | 297 |  |  |  | 40 |  |  |  | 145,275 |
|  | Amounts according to payment periods as of 12/31/2017 |
|  | Up to 30 |  |  | 31 - 60 |  |  | 61 - 90 |  |  | 91 - 120 |  |  | 121 - 365 |  |  | 366 and more |  |  | Total |
Type of Supplier |  | days |  |  | days |  |  | days |  |  | days |  |  | days |  |  | days |  |  | ThUS$ |
Goods |  |  | 72,567 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 72,567 |
Services |  |  | 36,855 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 3 |  |  |  | 36,858 |
Others |  |  | 45,104 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 45,104 |
Total |  |  | 154,526 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 3 |  |  |  | 154,529 |
Suppliers past due on payments
|  | Amounts according to payment periods as of 12/31/2018 |  |  |  |
|  | Up to 30 |  |  | 31 - 60 |  |  | 61 - 90 |  |  | 91 - 120 |  |  | 121 - 365 |  |  | 366 and more |  |  | Total |
Type of Supplier |  | days |  |  | days |  |  | days |  |  | days |  |  | days |  |  | days |  |  | ThUS$ |
Goods |  |  | 1,533 |  |  |  | 209 |  |  |  | 210 |  |  |  | 255 |  |  |  | 175 |  |  |  | 287 |  |  |  | 2,669 |
Services |  |  | 12,229 |  |  |  | 838 |  |  |  | 109 |  |  |  | 111 |  |  |  | 309 |  |  |  | 141 |  |  |  | 13,737 |
Others |  |  | 1,039 |  |  |  | 385 |  |  |  | 92 |  |  |  | 6 |  |  |  | 60 |  |  |  | 110 |  |  |  | 1,692 |
Total |  |  | 14,801 |  |  |  | 1,432 |  |  |  | 411 |  |  |  | 372 |  |  |  | 544 |  |  |  | 538 |  |  |  | 18,098 |
|  | Amounts according to payment periods as of 12/31/2017 |  |  |  |
|  | Up to 30 |  |  | 31 - 60 |  |  | 61 - 90 |  |  | 91 - 120 |  |  | 121 - 365 |  |  | 366 and more |  |  | Total |
Type of Supplier |  | days |  |  | days |  |  | days |  |  | days |  |  | days |  |  | days |  |  | ThUS$ |
Goods |  |  | 16,693 |  |  |  | 448 |  |  |  | 3,965 |  |  |  | 1,784 |  |  |  | 1,602 |  |  |  | 42 |  |  |  | 24,534 |
Services |  |  | 11,704 |  |  |  | 1,913 |  |  |  | 547 |  |  |  | 681 |  |  |  | 1,325 |  |  |  | 17 |  |  |  | 16,187 |
Others |  |  | 479 |  |  |  | 9 |  |  |  | 13 |  |  |  | 20 |  |  |  | 46 |  |  |  | 41 |  |  |  | 608 |
Total |  |  | 28,876 |  |  |  | 2,370 |  |  |  | 4,525 |  |  |  | 2,485 |  |  |  | 2,973 |  |  |  | 100 |  |  |  | 41,329 |
Purchase commitments held by the Company are recognized as liabilities when the goods and services are received by the Company, As of December 31, 2018, the Company has purchase orders amounting to ThUS$59,919 (ThUS$41,601 as of December 31, 2017).
| 13.6 | Financial liabilities at fair value through profit or loss
This balance relates to derivative instruments measured at their fair value, which have generated balances against the Company. The detail of this type of instrument is as follows:
Financial liabilities at fair value with an impact on profit or loss |  | 12/31/2018 |  |  | Effect on profit or loss as of 12/31/2018 |  |  | 12/31/2017 |  |  | Effect on profit or loss as of 12/31/2017 |  |  | 12/31/2016 |  |  | Effect on profit or loss as of 12/31/2016 |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Current |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivative instruments (IRS) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (229 | )
Total |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (229 | )
| 13.7 | Financial asset and liability categories
| a) | Financial Assets
|  |  |  |  | 12/31/2018 |  |  |  |  |  |  |  |  |  |  |  | 12/31/2017 |
|  | Current |  |  | Non-current |  |  | Total |  |  | Current |  |  | Non-current |  |  | Total |
Description of financial assets |  | Amount ThUS$ |  |  | Amount ThUS$ |  |  | Amount ThUS$ |  |  | Amount ThUS$ |  |  | Amount ThUS$ |  |  | Amount ThUS$ |
Cash and cash equivalent |  |  | 556,066 |  |  |  | - |  |  |  | 556,066 |  |  |  | 630,438 |  |  |  | - |  |  |  | 630,438 |
Trade receivables due from related parties |  |  | 44,554 |  |  |  | - |  |  |  | 44,554 |  |  |  | 59,132 |  |  |  | - |  |  |  | 59,132 |
Financial assets measured at amortized cost |  |  | 291,790 |  |  |  | 75 |  |  |  | 291,865 |  |  |  | 360,941 |  |  |  | 45 |  |  |  | 360,986 |
Loans and receivables measured at amortized cost |  |  | 464,855 |  |  |  | 2,275 |  |  |  | 467,130 |  |  |  | 446,875 |  |  |  | 1,912 |  |  |  | 448,787 |
Total financial assets measured at amortized cost |  |  | 1,357,265 |  |  |  | 2,350 |  |  |  | 1,359,615 |  |  |  | 1,497,386 |  |  |  | 1,957 |  |  |  | 1,499,343 |
Derivative financial instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
- For hedging purposes |  |  | 18,238 |  |  |  | 13,425 |  |  |  | 31,663 |  |  |  | - |  |  |  | 8,910 |  |  |  | 8,910 |
- At fair value through profit or loss |  |  | 2,693 |  |  |  | - |  |  |  | 2,693 |  |  |  | 6,038 |  |  |  | - |  |  |  | 6,038 |
Financial assets at fair value through other comprehensive income |  |  | - |  |  |  | 3,631 |  |  |  | 3,631 |  |  |  | - |  |  |  | 33,924 |  |  |  | 33,924 |
Total financial assets at fair value |  |  | 20,931 |  |  |  | 17,056 |  |  |  | 37,987 |  |  |  | 6,038 |  |  |  | 42,834 |  |  |  | 48,872 |
Total financial assets |  |  | 1,378,196 |  |  |  | 19,406 |  |  |  | 1,397,602 |  |  |  | 1,503,424 |  |  |  | 44,791 |  |  |  | 1,548,215 |
| b) | Financial liabilities
|  | 12/31/2018 |  |  | 12/31/2017 |
Description of financial liabilities |  | Current |  |  | Non- Current |  |  | Total |  |  | Current |  |  | Non- Current |  |  | Total |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Derivative financial instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
For hedging purposes |  |  | 5,285 |  |  |  | 12,033 |  |  |  | 17,318 |  |  |  | 37,287 |  |  |  | - |  |  |  | 37,287 |
Held for trading at fair value through profit or loss |  |  | 2,855 |  |  |  | - |  |  |  | 2,855 |  |  |  | 5,979 |  |  |  | - |  |  |  | 5,979 |
Financial liabilities at fair value through profit or loss |  |  | 8,140 |  |  |  | 12,033 |  |  |  | 20,173 |  |  |  | 43.266 |  |  |  | - |  |  |  | 43.266 |
Liabilities at amortized cost |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Bank loans |  |  | 300 |  |  |  | 68,870 |  |  |  | 69,170 |  |  |  | 163,568 |  |  |  | - |  |  |  | 163,568 |
Obligations to the public |  |  | 15,145 |  |  |  | 1,249,479 |  |  |  | 1,264,624 |  |  |  | 13,494 |  |  |  | 1,031,507 |  |  |  | 1,045,001 |
Financial liabilities at amortized cost (trade and other payables) |  |  | 163,751 |  |  |  | - |  |  |  | 163,751 |  |  |  | 196,280 |  |  |  | - |  |  |  | 196,280 |
Accounts payable to related entities |  |  | 9 |  |  |  | - |  |  |  | 9 |  |  |  | 1,365 |  |  |  | - |  |  |  | 1,365 |
Total financial liabilities at amortized cost |  |  | 179,205 |  |  |  | 1,318,349 |  |  |  | 1,497,554 |  |  |  | 374.707 |  |  |  | 1,031,507 |  |  |  | 1,406.214 |
Total financial liabilities |  |  | 187,345 |  |  |  | 1,330,382 |  |  |  | 1,517,727 |  |  |  | 417,973 |  |  |  | 1,031,507 |  |  |  | 1,449,480 |
| 13.8 | Fair value measurement of assets and liabilities
Financial assets and liabilities measured at fair value consist of Options and Forwards hedging the mismatch in the balance sheet and cash flows, Cross Currency Swaps (CCS) to hedge bonds issued in local currency ($/UF), and Interest Rate Swaps (IRS) to hedge LIBOR rate debt issued. The value of the Company’s assets and liabilities recognized by CCS contracts is calculated as the difference between the present value of discounted cash flows of the asset (pesos/UF) and liability (US$) parts of the derivative. In the case of the IRS, the asset value recognized is calculated as the difference between the discounted cash flows of the asset (variable rate) and liability (fixed rate) parts of the derivative. Forwards are calculated as the difference between the strike price of the contract and the spot price plus the forwards points at the date of the contract. Options: the value recognized is calculated using the Black-Scholes method. In the case of CCS, the entry data used for the valuation models are UF, peso, USD and basis swap rates. In the case of fair value calculations for IRS, the FRA (Forward Rate Agreement) rate and ICVS 23 Curve (Bloomberg: cash/deposits rates, futures, swaps). In the case of forwards, the forwards curve for the currency in question is used. Finally, with options, the spot price, risk-free rate and volatility of exchange rate are used, all in accordance with the currencies used in each valuation. The financial information used as entry data for the Company’s valuation models is obtained from Bloomberg, the well-known financial software company. Conversely, the fair value provided by the counterparties of derivatives contracts is used only as a control and not for valuation. The effects on profit or loss of movements in these amounts may be recognized in the caption Finance costs, foreign currency translation gain (loss) or cash flow hedges in the statement of comprehensive income, depending on each particular case. The fair value measurement of debt is only performed to determine the present market value of secured and unsecured long-term obligations; bonds denominated in local currency (Ch$/UF) and foreign currency (US$), credits denominated in foreign currency (US$), which is classified under Level 2 in the fair value hierarchy established by IFRS. The value of the Company’s reported liabilities is calculated as the present value of discounted cash flows at market rates at the time of valuation, taking into account the maturity date and exchange rate. The entry data used for the model includes the UF and peso rates, which are obtained using Bloomberg, the well-known financial software company and the ‘Asociación de Bancos e Instituciones Financieras’ (ABIF) (Association of Banks and Financial Institutions’). Fair value hierarchy The fair value hierarchy is detailed as follows:
| a) | Level 1: using quoted prices (unadjusted) only in active markets,
| b) | Level 2: when in any phase in the valuation process inputs other than quoted prices have been used in Level 1 that are observable directly in markets.
| c) | Level 3: i nputs for the asset or liability that are not based on observable market data.
The valuation technique used for determining fair value of our hedging instruments is that indicated in Level 2.
|  | Carrying Amount at Amortized Cost |  |  | Fair value (informative) |  |  | Fair value |  |  | Measurement Methodology |
|  | 12/31/2018 |  |  | 12/31/2018 |  |  | 12/31/2018 |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Financial Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  |  | 556,066 |  |  |  | 556,066 |  |  |  | - |  |  |  | - |  |  |  | 556,066 |  |  |  | - |
Trade and other receivables, current |  |  | 464,855 |  |  |  | 464,855 |  |  |  | - |  |  |  | - |  |  |  | 464,855 |  |  |  | - |
Trade receivables due from related parties, current |  |  | 44,554 |  |  |  | 44,554 |  |  |  | - |  |  |  | - |  |  |  | 44,554 |  |  |  | - |
Other current financial assets: |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
- Time deposits |  |  | 291,790 |  |  |  | 291,790 |  |  |  | - |  |  |  | - |  |  |  | 291,790 |  |  |  | - |
- Derivative instruments |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
- Forwards |  |  | - |  |  |  | - |  |  |  | 2,637 |  |  |  | - |  |  |  | 2,637 |  |  |  | - |
- Options |  |  | - |  |  |  | - |  |  |  | 56 |  |  |  | - |  |  |  | 56 |  |  |  | - |
- Hedging assets |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
- Investment hedge swaps |  |  | - |  |  |  | - |  |  |  | 18,238 |  |  |  | - |  |  |  | 18,238 |  |  |  | - |
Non-current accounts receivable |  |  | 424 |  |  |  | 424 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Other non-current financial assets: |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
- Other |  |  | 95 |  |  |  | 95 |  |  |  | - |  |  |  | - |  |  |  | 95 |  |  |  | - |
- Investment in Shares |  |  | - |  |  |  | - |  |  |  | 3,611 |  |  |  | - |  |  |  | - |  |  |  | - |
- Hedging assets - Swaps |  |  | - |  |  |  | - |  |  |  | 13,425 |  |  |  | - |  |  |  | 13,425 |  |  |  | - |
Other current financial liabilities |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
- Bank loans |  |  | 300 |  |  |  | 300 |  |  |  | - |  |  |  | - |  |  |  | 300 |  |  |  | - |
- Derivative instruments |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
- Forwards |  |  | - |  |  |  | - |  |  |  | 2,723 |  |  |  | - |  |  |  | 2,723 |  |  |  | - |
- Options |  |  | - |  |  |  | - |  |  |  | 132 |  |  |  | - |  |  |  | 132 |  |  |  | - |
- Hedging liabilities - Swaps |  |  | - |  |  |  | - |  |  |  | 5,285 |  |  |  | - |  |  |  | 5,285 |  |  |  | - |
- Unsecured obligations |  |  | 15,145 |  |  |  | 15,145 |  |  |  | - |  |  |  | - |  |  |  | 15,145 |  |  |  | - |
Trade and other payables, current and non current |  |  | 163,751 |  |  |  | 163,751 |  |  |  | - |  |  |  | - |  |  |  | 163,751 |  |  |  | - |
Trade payables due to related parties, current |  |  | 9 |  |  |  | 9 |  |  |  | - |  |  |  | - |  |  |  | 9 |  |  |  | - |
Other non-current financial liabilities: |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
- Bank loans |  |  | 68,870 |  |  |  | 71,826 |  |  |  | - |  |  |  | - |  |  |  | 71,826 |  |  |  | - |
- Unsecured obligations |  |  | 1,249,479 |  |  |  | 1,357,640 |  |  |  | - |  |  |  | - |  |  |  | 1,357,640 |  |  |  | - |
- Non-current hedging liabilities |  |  | - |  |  |  | - |  |  |  | 12,033 |  |  |  | - |  |  |  | 12,033 |  |  |  | - |
|  | Carrying Amount at Amortized Cost |  |  | Fair value of amounts measured at amoirtized cost |  |  | Amounts measured at Fair value |  |  | Measurement Methodology |
|  | 12/31/2017 |  |  | 12/31/2017 |  |  | 12/31/2017 |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Financial Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  |  | 630,438 |  |  |  | 630,438 |  |  |  | - |  |  |  | - |  |  |  | 630,438 |  |  |  | - |
Trade and other receivables, current |  |  | 446,875 |  |  |  | 446,875 |  |  |  | - |  |  |  | - |  |  |  | 446,875 |  |  |  | - |
Trade receivables due from related parties, current |  |  | 59,132 |  |  |  | 59,132 |  |  |  | - |  |  |  | - |  |  |  | 59,132 |  |  |  | - |
Other current financial assets: |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
- Time deposits |  |  | 360,941 |  |  |  | 360,941 |  |  |  | - |  |  |  | - |  |  |  | 360,941 |  |  |  | - |
- Derivative instruments |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
- Forwards |  |  | - |  |  |  | - |  |  |  | 2,744 |  |  |  | - |  |  |  | 2,744 |  |  |  | - |
- Options |  |  | - |  |  |  | - |  |  |  | 110 |  |  |  | - |  |  |  | 110 |  |  |  | - |
- Hedging assets |  |  | - |  |  |  | - |  |  |  | 3,184 |  |  |  | - |  |  |  | 3,184 |  |  |  | - |
- Investment hedge swaps |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Non-current accounts receivable |  |  | 1,912 |  |  |  | 1,912 |  |  |  | - |  |  |  | - |  |  |  | 1,912 |  |  |  | - |
Other non-current financial assets: |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
- Other |  |  | 24,811 |  |  |  | 24,811 |  |  |  | - |  |  |  | - |  |  |  | 24,811 |  |  |  | - |
- Investment in Shares |  |  | - |  |  |  | - |  |  |  | 9,159 |  |  |  | 9,159 |  |  |  | - |  |  |  | - |
- Hedging assets - Swaps |  |  | - |  |  |  | - |  |  |  | 8,909 |  |  |  | - |  |  |  | 8,909 |  |  |  | - |
Other current financial liabilities |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
- Bank loans |  |  | 163,568 |  |  |  | 163,568 |  |  |  | - |  |  |  | - |  |  |  | 163,568 |  |  |  | - |
- Derivative instruments |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
- Forwards |  |  | - |  |  |  | - |  |  |  | 5,534 |  |  |  | - |  |  |  | 5,534 |  |  |  | - |
- Options |  |  | - |  |  |  | - |  |  |  | 445 |  |  |  | - |  |  |  | 445 |  |  |  | - |
- Hedging liabilities - Swaps |  |  | - |  |  |  | - |  |  |  | 37,287 |  |  |  | - |  |  |  | 37,287 |  |  |  | - |
- Unsecured obligations |  |  | 13,494 |  |  |  | 13,494 |  |  |  | - |  |  |  | - |  |  |  | 13,494 |  |  |  | - |
Trade and other payables, current and non current |  |  | 196,280 |  |  |  | 196,280 |  |  |  | - |  |  |  | - |  |  |  | 196,280 |  |  |  | - |
Trade payables due to related parties, current |  |  | 1,365 |  |  |  | 1,365 |  |  |  | - |  |  |  | - |  |  |  | 1,365 |  |  |  | - |
Other non-current financial liabilities: |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
- Bank loans |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
- Unsecured obligations |  |  | 1,031,507 |  |  |  | 1,131,639 |  |  |  | - |  |  |  | - |  |  |  | 1,131,639 |  |  |  | - |
- Non-current hedging liabilities |  |  | - |  |  |  |  |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
13.9 Financial assets pledged as a guarantee On November 4, 2004, Isapre Norte Grande maintains a guarantee equivalent to the total amount owed to its members and healthcare providers, which is managed and maintained by Banco de Chile. As of December 31, 2018 and December 31, 2017, assets pledged as guarantees are as follows:
Restricted cash |  | 12/31/2018 ThUS$ |  |  | 12/31/2017 ThUS$ |
Isapre Norte Grande Ltda, |  |  | 712 |  |  |  | 771 |
Total |  |  | 712 |  |  |  | 771 |
| 13.10 | Estimated fair value of financial instruments and financial derivatives
As required by IFRS 7, the following information is presented for the disclosure of the estimated fair value of financial assets and liabilities. Although inputs represent Management's best estimate, they are subjective and involve significant estimates related to the current economic and market conditions, as well as risk features. Methodologies and assumptions used depend on the risk terms and characteristics of instruments and include the following as a summary:
| - | Cash equivalent approximates fair value due to the short-term maturities of these instruments.
| - | The fair value of trade receivables, current is considered to be equal to the carrying amount due to the maturity of such accounts at short-term.
| - | The fair value of other current financial liabilities is considered to be equal to their carrying values.
| - | For interest-bearing liabilities with original maturity of more than a year, fair values are calculated by discounting contractual cash flows at their original current market rates with similar terms.
| - | The fair value of debt is considered in Level 2.
| - | For forward and swap contracts, fair value is determined using quoted market prices of financial instruments with similar characteristics.
The detail of the Company’s instruments at carrying value and estimated fair value is as follows:
|  | 12/31/2018 |  |  |  |  |  | 12/31/2017 |  |  |  |
|  | Carrying value |  |  | Fair value |  |  | Carrying value |  |  | Fair value |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Cash and cash equivalents |  |  | 556,066 |  |  |  | 556,066 |  |  |  | 630,438 |  |  |  | 630,438 |
Current trade and other receivables |  |  | 464,855 |  |  |  | 464,855 |  |  |  | 446,875 |  |  |  | 446,875 |
Receivables due from related parties, current |  |  | 44,554 |  |  |  | 44,554 |  |  |  | 59,132 |  |  |  | 59,132 |
Other financial assets, current: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
- Time deposits |  |  | 291,790 |  |  |  | 291,790 |  |  |  | 360,941 |  |  |  | 360,941 |
- Derivative instruments |  |  | 2,693 |  |  |  | 2,693 |  |  |  | 6,038 |  |  |  | 6,038 |
- Hedging assets |  |  | 18,238 |  |  |  | 18,238 |  |  |  | - |  |  |  | - |
Total other current financial assets |  |  | 312,721 |  |  |  | 312,721 |  |  |  | 366,979 |  |  |  | 366,979 |
Non-Current Trade Receivables |  |  | 424 |  |  |  | 424 |  |  |  | 1,912 |  |  |  | 1,912 |
Other non-current financial assets: |  |  | 17,131 |  |  |  | 17,131 |  |  |  | 42,879 |  |  |  | 42,879 |
Total other non-current financial assets: |  |  | 17,131 |  |  |  | 17,131 |  |  |  | 42,879 |  |  |  | 42,879 |
Other financial liabilities, current: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
- Bank loans |  |  | 300 |  |  |  | 300 |  |  |  | 163,568 |  |  |  | 163,568 |
- Derivative instruments |  |  | 2,855 |  |  |  | 2,855 |  |  |  | 5,979 |  |  |  | 5,979 |
- Hedging liabilities |  |  | 5,285 |  |  |  | 5,285 |  |  |  | 37,287 |  |  |  | 37,287 |
- Unsecured obligations |  |  | 15,145 |  |  |  | 15,145 |  |  |  | 13,494 |  |  |  | 13,494 |
Other financial liabilities, current |  |  | 23,585 |  |  |  | 23,585 |  |  |  | 220,328 |  |  |  | 220,328 |
Current and non-current accounts payable |  |  | 163,751 |  |  |  | 163,751 |  |  |  | 196,280 |  |  |  | 196,280 |
Payables due to related parties, non-current |  |  | 9 |  |  |  | 9 |  |  |  | 1,365 |  |  |  | 1,365 |
Other non-current financial liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
- Bank loans |  |  | 68,870 |  |  |  | 71,826 |  |  |  | - |  |  |  | - |
- Unsecured obligations |  |  | 1,249,479 |  |  |  | 1,404,614 |  |  |  | 1,031,507 |  |  |  | 1,131,639 |
- Non-current hedging liabilities |  |  | 12,033 |  |  |  | 2,657 |  |  |  | - |  |  |  | - |
Other non-current financial liabilities: |  |  | 1,330,382 |  |  |  | 1,479,097 |  |  |  | 1,031,507 |  |  |  | 1,131,639 |
All the fair value estimates are included in levels 1 and 2. 13.11 Nature and scope of risks arising from financing instruments As indicated in paragraphs 33 to 42 of IFRS 7 the disclosure of information associated with the nature and scope of risks arising from financial instruments is presented in Note 5 - Financial Risk Management.

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