XML 170 R19.htm IDEA: XBRL DOCUMENT
v3.20.1

Financial instruments | 12 Months Ended
--- | ---
Dec. 31, 2019
Disclosure Of Financials instruments [Abstract] |
Disclosure of financial instruments [text block] | Note 13 Financial instruments Financial instruments recognized in accordance with IFRS 9 are detailed as follows, except for liabilities recognized under IFRS 16 disclosed in Note 14.4 f): 13.1 Types of other financial assets
Description of other financial assets |  | As of December ‎ 31, 2019 |  |  | As of December ‎ 31, 2018 |
|  | ThUS $ |  |  | ThUS $ |
Financial assets at amortized cost (1) |  |  | 485,689 |  |  |  | 291,790 |
Derivative financial instruments |  |  |  |  |  |  |  |
- For hedging |  |  | 17,270 |  |  |  | 18,238 |
- Non-hedging (2) |  |  | 2,531 |  |  |  | 2,693 |
Total other current financial assets |  |  | 505,490 |  |  |  | 312,721 |
Financial assets at fair value through other comprehensive income |  |  | 4,785 |  |  |  | 3,631 |
Derivative financial instruments |  |  |  |  |  |  |  |
- For hedging |  |  | 3,918 |  |  |  | 13,425 |
Financial assets at amortized cost |  |  | 75 |  |  |  | 75 |
Total other non-current financial assets |  |  | 8,778 |  |  |  | 17,131 |
Institution |  | As of December ‎ 31, 2019 |  |  | As of December ‎ 31, 2018 |
|  | ThUS $ |  |  | ThUS $ |
Banco de Crédito e Inversiones |  |  | 185,400 |  |  |  | 145,834 |
Banco Santander (3) |  |  | 74,365 |  |  |  | 23,124 |
Banco Itaú CorpBanca |  |  | 120,628 |  |  |  | 70,719 |
Banco Security |  |  | 17,964 |  |  |  | 27,215 |
Banco de Chile |  |  | 18,026 |  |  |  | - |
Banco Estado |  |  | 15,126 |  |  |  | - |
Scotiabank Sud Americano |  |  | 54,180 |  |  |  | 24,898 |
Total |  |  | 485,689 |  |  |  | 291,790 |
(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 aforementioned financial institutions. (2) Correspond to forwards and options that were not classified as hedging instruments (See detail in Note 14.3). (3) This balance includes ThUS$ 1,870 corresponding to margin calls, which are considered as collateral guarantees. 13.2 Trade and other receivables
|  | As of December 31, 2019 |  |  | As of December 31, 2018 |
Trade and other receivables |  | Currents |  |  | Non-current |  |  | Total |  |  | Currents |  |  | Non-current |  |  | Total |
|  | ThUS $ |  |  | ThUS $ |  |  | ThUS $ |  |  | ThUS $ |  |  | ThUS $ |  |  | ThUS $ |
Trade receivables, current |  |  | 367,583 |  |  |  | - |  |  |  | 367,583 |  |  |  | 430,914 |  |  |  | - |  |  |  | 430,914 |
Prepayments, current |  |  | 20,309 |  |  |  | - |  |  |  | 20,309 |  |  |  | 16,147 |  |  |  | - |  |  |  | 16,147 |
Other receivables, current |  |  | 11,250 |  |  |  | 1,710 |  |  |  | 12,960 |  |  |  | 19,558 |  |  |  | 2,275 |  |  |  | 21,833 |
Total trade and other receivables |  |  | 399,142 |  |  |  | 1,710 |  |  |  | 400,852 |  |  |  | 466,619 |  |  |  | 2,275 |  |  |  | 468,894 |
|  | As of December 31, 2019 |  |  | As of December 31, 2018 |
Trade and other receivablaes |  | 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 |  |  | 383,775 |  |  |  | (16,192 | ) |  |  | 367,583 |  |  |  | 445,670 |  |  |  | (14,756 | ) |  |  | 430,914 |
Trade receivables, current |  |  | 383,775 |  |  |  | (16,192 | ) |  |  | 367,583 |  |  |  | 445,670 |  |  |  | (14,756 | ) |  |  | 430,914 |
Prepayments, current |  |  | 21,092 |  |  |  | (783 | ) |  |  | 20,309 |  |  |  | 16,990 |  |  |  | (843 | ) |  |  | 16,147 |
Other receivables, current |  |  | 15,659 |  |  |  | (4,409 | ) |  |  | 11,250 |  |  |  | 23,863 |  |  |  | (4,305 | ) |  |  | 19,558 |
Current other receivables |  |  | 36,751 |  |  |  | (5,192 | ) |  |  | 31,559 |  |  |  | 40,853 |  |  |  | (5,148 | ) |  |  | 35,705 |
Other receivables. non-current |  |  | 1,710 |  |  |  | - |  |  |  | 1,710 |  |  |  | 2,275 |  |  |  | - |  |  |  | 2,275 |
Non-current receivables |  |  | 1,710 |  |  |  | - |  |  |  | 1,710 |  |  |  | 2,275 |  |  |  | - |  |  |  | 2,275 |
Total trade and other receivables |  |  | 422,236 |  |  |  | (21,384 | ) |  |  | 400,852 |  |  |  | 488,798 |  |  |  | (19,904 | ) |  |  | 468,894 |
(a) Portfolio stratification The Company’s policy is to require guarantees (such as letters of credit, guarantee clauses and others) and/or maintaining insurance policies for certain account receivables as deemed necessary by management. (b) Uncollateralized portfolio As of December 31, 2019 and December 31, 2018 the detail of the uncollateralized portfolio is as follows:
As of December 31, 2019 |
Total uncollateralized portfolio |
Past due segments |  | Number of customers with non- ‎ renegotiated portfolio |  |  | Gross non-renegotiated portfolio ThUS$ |  |  | Number of customers with ‎ renegotiated portfolio |  |  | Gross renegotiated portfolio ‎ ThUS$ |
Current |  |  | 1,486 |  |  |  | 351,931 |  |  |  | 69 |  |  |  | 892 |
1 - 30 days |  |  | 166 |  |  |  | 20,195 |  |  |  | 72 |  |  |  | 526 |
31 - 60 days |  |  | 26 |  |  |  | 1,279 |  |  |  | 4 |  |  |  | 10 |
61 - 90 days |  |  | 12 |  |  |  | 519 |  |  |  | 3 |  |  |  | 54 |
91 - 120 days |  |  | 5 |  |  |  | 1,026 |  |  |  | 2 |  |  |  | 66 |
121 - 150 days |  |  | 5 |  |  |  | 361 |  |  |  | 7 |  |  |  | 49 |
151 - 180 days |  |  | 7 |  |  |  | 190 |  |  |  | 2 |  |  |  | 33 |
181 - 210 days |  |  | 4 |  |  |  | 51 |  |  |  | - |  |  |  | - |
211 - 250 days |  |  | 6 |  |  |  | 48 |  |  |  | 8 |  |  |  | 11 |
>250 days |  |  | 144 |  |  |  | 5,449 |  |  |  | 137 |  |  |  | 1,085 |
Total |  |  | 1,861 |  |  |  | 381,049 |  |  |  | 304 |  |  |  | 2,726 |
As of December 31, 2018 |
Total uncollateralized portfolio |
Past due segments |  | Number of customers with non-renegotiated portfolio |  |  | Gross non-renegotiated ‎ portfolio ThUS$ |  |  | Number of customers with ‎ renegotiated portfolio |  |  | Gross renegotiated portfolio ‎ ThUS$ |
Current |  |  | 1,390 |  |  |  | 404,670 |  |  |  | 136 |  |  |  | 668 |
1 - 30 days |  |  | 1,229 |  |  |  | 19,422 |  |  |  | 390 |  |  |  | 596 |
31 - 60 days |  |  | 801 |  |  |  | 5,705 |  |  |  | 154 |  |  |  | 118 |
61 - 90 days |  |  | 648 |  |  |  | 2,279 |  |  |  | 41 |  |  |  | 75 |
91 - 120 days |  |  | 489 |  |  |  | 1,220 |  |  |  | 27 |  |  |  | 47 |
121 - 150 days |  |  | 80 |  |  |  | 423 |  |  |  | 16 |  |  |  | 29 |
151 - 180 days |  |  | 43 |  |  |  | 186 |  |  |  | 21 |  |  |  | 176 |
181 - 210 days |  |  | 7 |  |  |  | 1,291 |  |  |  | 41 |  |  |  | 231 |
211 - 250 days |  |  | 7 |  |  |  | 108 |  |  |  | 101 |  |  |  | 242 |
>250 days |  |  | 140 |  |  |  | 7,036 |  |  |  | 305 |  |  |  | 1,148 |
Total |  |  | 4,834 |  |  |  | 442,340 |  |  |  | 1,232 |  |  |  | 3,330 |
(c) Allowance for doubtful accounts:
As of December 31, 2019 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Trade |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | receivables due |
|  | Trade accounts receivable days past due |  |  |  |  |  | from related |
Trade and other receivables |  | Current |  |  | 1 to 30 days |  |  | 31 to 60 days |  |  | 61 to 90 days |  |  | Over 90 days |  |  | Trade |  |  | parties |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | ThUS $ |  |  | ThUS $ |
Expected loss rate |  |  | 1 | % |  |  | 18 | % |  |  | 34 | % |  |  | 44 | % |  |  | 78 | % |  |  | - |  |  |  | - |
Total gross carrying amount |  |  | 352,823 |  |  |  | 20,721 |  |  |  | 1,288 |  |  |  | 573 |  |  |  | 8,370 |  |  |  | 383,775 |  |  |  | 72,859 |
Impairment estimate |  |  | 5,285 |  |  |  | 3,664 |  |  |  | 440 |  |  |  | 251 |  |  |  | 6,552 |  |  |  | 16,192 |  |  |  | 11,323 |
As of December 31, 2018 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Trade |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | receivables due |
|  | Trade accounts receivable days past due |  |  |  |  |  | from related |
Trade and other receivables |  | Current |  |  | 1 to 30 days |  |  | 31 to 60 days |  |  | 61 to 90 days |  |  | Over 90 days |  |  | Trade |  |  | parties |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | ThUS $ |  |  | ThUS $ |
Expected loss rate |  |  | 1 | % |  |  | 9 | % |  |  | 5 | % |  |  | 4 | % |  |  | 65 | % |  |  | - |  |  |  | - |
Total gross carrying amount |  |  | 408,300 |  |  |  | 20,018 |  |  |  | 2,861 |  |  |  | 2,354 |  |  |  | 12,137 |  |  |  | 445,670 |  |  |  | 55,520 |
Allowance for doubtful accounts |  |  | 4,811 |  |  |  | 1,858 |  |  |  | 146 |  |  |  | 89 |  |  |  | 7,852 |  |  |  | 14,756 |  |  |  | 12,730 |
As of December 31, 2019 and 2018, the reconciliation of the allowance is as follows :
Provisions |  | As of December ‎ 31, 2019 |  |  | As of December ‎ 31, 2019 |
|  | ThUS $ |  |  | ThUS $ |
Allowance for doubtful accounts at the beginning of the Period |  |  | 32,634 |  |  |  | 34,936 |
Adjustment to initial balance derived from the adoption of IFRS 9 |  |  | - |  |  |  | 2,301 |
Increase / (decrease) of impairment provision |  |  | 1,057 |  |  |  | (2,967 | )
Provision used |  |  | (984 | ) |  |  | (1,636 | )
Allowance for doubtful accounts at the end of the year |  |  | 32,707 |  |  |  | 32,634 |
(1) Trade and Other Receivables allowance current |  |  | 16,192 |  |  |  | 14,756 |
(2) Other receivables allowance current |  |  | 5,192 |  |  |  | 5,148 |
(3) Related party receivables allowance current |  |  | 11,323 |  |  |  | 12,730 |
Recovery of Insurance |  |  | 320 |  |  |  | 827 |
Total allowance for doubtful accounts |  |  | 32,707 |  |  |  | 32,634 |
Renegotiated allowance |  |  | 1,905 |  |  |  | 2,056 |
Non-renegotiated allowance |  |  | 30,802 |  |  |  | 30,578 |
13.3 Hedging assets and liabilities The balance represents derivative financial instruments measured at fair value which have been classified as hedges for exchange and interest rate risks relating to the total obligations with the public associated with bonds in UF and investments in Chilean pesos. As of December 31, 2019 and 2018, the notional amount of cash flows agreed upon in US dollars of the cross-currency swap contracts amounted to ThUS$ 435,167 and ThUS$ 461,659, respectively.
ThUS$ |  | Assets / (Liabilities) ‎ Derivative financial ‎ instruments |  |  | Total Realized |  |  | Hedging Reserve in Gross ‎ Equity |
Hedging of underlying debt at December 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |
Hedging Assets |  |  | 3,918 |  |  |  | (4,194 | ) |  |  | 8,112 |
Hedging Liabilities |  |  | (22,771 | ) |  |  | (25,363 | ) |  |  | 2,592 |
Hedge of underlying Debt |  |  | (18,853 | ) |  |  | (29,557 | ) |  |  | 10,704 |
Hedge of underlying investment at December 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |
Hedging Assets |  |  | 17,270 |  |  |  | 17,857 |  |  |  | (587 | )
Hedging Liabilities |  |  | (889 | ) |  |  | (711 | ) |  |  | (178 | )
Hedge of underlying investments |  |  | 16,381 |  |  |  | 17,146 |  |  |  | (765 | )
ThUS$ |  | Assets / (Liabilities) ‎ Derivative financial ‎ instruments |  |  | Total Realized |  |  | Hedging Reserve in Gross ‎ Equity |
Hedge of underlying debt at December 31, 2018 |  |  |  |  |  |  |  |  |  |  |  |
Hedging Assets |  |  | 13,425 |  |  |  | 5,244 |  |  |  | 8,181 |
Hedging Liabilities |  |  | (17,318 | ) |  |  | (18,859 | ) |  |  | 1,541 |
Hedge of underlying debt |  |  | (3,893 | ) |  |  | (13,615 | ) |  |  | 9,722 |
Hedge of underlying investment at December 31, 2018 |  |  |  |  |  |  |  |  |  |  |  |
Hedging Assets |  |  | 18,146 |  |  |  | 19,911 |  |  |  | (1,765 | )
Hedge of Underlying Investments |  |  | 18,146 |  |  |  | 19,911 |  |  |  | (1,765 | )
Hedging effect in profit and loss and equity for the year ended December 31, 2019 |  | Total variation |  |  | Profit and loss |  |  | Hedging reserve due to variation of hedge gross |
Analysis effect by type of hedging |  |  |  |  |  |  |  |  |  |  |  |
Hedge of underlying debt |  |  | (14,960 | ) |  |  | (15,942 | ) |  |  | 982 |
Hedge of underlying investments |  |  | (1,765 | ) |  |  | (2,765 | ) |  |  | 1,000 |
Total hedging effect on profit or loss and equity for the year |  |  | (16,725 | ) |  |  | (18,707 | ) |  |  | 1,982 |
Analysis Effect by type of asset |  |  |  |  |  |  |  |  |  |  |  |
Hedging in Current and Non-Current Assets |  |  | (10,383 | ) |  |  | (11,492 | ) |  |  | 1,109 |
Hedging in Current and Non-Current Liabilities |  |  | (6,342 | ) |  |  | (7,215 | ) |  |  | 873 |
Total hedging effect in Profit or Loss and Shareholders' Equity for the year |  |  | (16,725 | ) |  |  | (18,707 | ) |  |  | 1,982 |
The balances in the “total realized” column consider the intermediate effects of the contracts in force from January 1 to December 31, 2019 and from January 1 to December 31, 2018. Hedging derivative contract maturities are detailed as follows:
Series |  | Contract amount |  |  | Currency |  |  | Maturity date |
|  | ThUS$ |  |  |  |  |  |  |
H |  |  | 148,159 |  |  | UF |  |  |  | 01-04-2023 |
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 UF. Likewise, hedging contracts are denominated in the same currencies and have the same maturity dates of bond principal and interest payments. Effectiveness Effectiveness tests have verified that hedges are effective as of the reporting date. This note describes the fair values of derivative instruments classified as hedges. 13.4 Financial liabilities Other current and non-current financial liabilities As of December 31, 2019 and 2018, the detail is as follows:
|  | As of December 31, 2019 |  |  | As of December 31, 2018 |
Other current and non-current financial ‎ liabilities |  | Current |  |  | Non-current |  |  | Total |  |  | Current |  |  | Non-current |  |  | Total |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Liabilities at amortized cost |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Bank borrowings |  |  | 199 |  |  |  | 69,138 |  |  |  | 69,337 |  |  |  | 300 |  |  |  | 68,870 |  |  |  | 69,170 |
Unsecured obligations |  |  | 280,578 |  |  |  | 1,403,108 |  |  |  | 1,683,686 |  |  |  | 15,145 |  |  |  | 1,249,479 |  |  |  | 1,264,624 |
Derivative financial instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
For hedging |  |  | 7,183 |  |  |  | 16,477 |  |  |  | 23,660 |  |  |  | 5,285 |  |  |  | 12,033 |  |  |  | 17,318 |
Non-hedging liabilities |  |  | 3,168 |  |  |  | - |  |  |  | 3,168 |  |  |  | 2,855 |  |  |  | - |  |  |  | 2,855 |
Lease liabilities |  |  | 7,694 |  |  |  | 30,203 |  |  |  | 37,897 |  |  |  | - |  |  |  | - |  |  |  | - |
Total |  |  | 298,822 |  |  |  | 1,518,926 |  |  |  | 1,817,748 |  |  |  | 23,585 |  |  |  | 1,330,382 |  |  |  | 1,353,967 |
Current and non-current bank borrowings As of December 31, 2019 and 2018, the detail is as follows:
Current and non-current bank borrowings |  | As of December ‎ 31, 2019 |  |  | As of December ‎ 31, 2018 |
|  | ThUS$ |  |  | ThUS$ |
Current bank borrowings |  |  | 199 |  |  |  | 300 |
Non-current bank borrowings |  |  | 69,138 |  |  |  | 68,870 |
Current and non-current bank borrowings |  |  | 69,337 |  |  |  | 69,170 |
a) Bank borrowings, current: As of December 31, 2019 and December 31, 2018, the detail of this caption is as follows:
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Currency or |  |  |  |  |  |  |  |  |  |  |  |  |
Debtor |  |  | Creditor |  |  | adjustment |  |  |  |  |  |  |  |  |  |  |  |  |
Tax ID No |  |  | Company |  |  | Country |  |  | Tax ID No |  |  | Financial institution |  |  | Country |  |  | index |  |  | Repayment |  |  | maturity |  |  | Effective rate |  |  | Nominal rate |
93.007.000-9 |  |  |  | SQM S.A. |  |  |  | Chile |  |  |  | Foreign |  |  |  | Scotiabank Cayman |  |  |  | USA |  |  |  | US$ |  |  |  | Upon maturity |  |  |  | 05-29-2023 |  |  |  | 2.11 | % |  |  | 3.01 | %
Foreign |  |  |  | Nitratos Naturais do Chile Lim. |  |  |  | Brazil |  |  |  | Foreign |  |  |  | Banco Itau Brasil |  |  |  | Brazil |  |  |  | BRL |  |  |  | Upon maturity |  |  |  | 12-31-2019 |  |  |  | 13.57 | % |  |  | 4.25 | %
Debtor |  | Creditor |  |  | Nominal amounts as of December 31, 2019 |  |  | Current amounts as of December 31, 2019 |
Company |  | Financial institution |  |  | Up to 90 days |  |  | 90 days to ‎ 1 year |  |  | Total |  |  | Up to 90 days |  |  | 90 days to ‎ 1 year |  |  | Subtotal |  |  | Borrowing ‎ costs |  |  | Total |
|  |  |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
SQM S.A. |  |  | Scotiabank Cayman |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 187 |  |  |  | 187 |  |  |  | - |  |  |  | 187 |
Nitratos Naturais do Chile |  |  | Banco Itau Brasil |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 12 |  |  |  | - |  |  |  | 12 |  |  |  | - |  |  |  | 12 |
Total |  |  |  |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 12 |  |  |  | 187 |  |  |  | 199 |  |  |  | - |  |  |  | 199 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Currency or |  |  |  |  |  |  |  |  |  |  |  |  |
Debtor |  |  | Creditor |  |  | adjustment |  |  |  |  |  |  |  |  |  |  |  |  |
Tax ID No |  | Company |  |  | Country |  |  | Tax ID No |  |  | Financial institution |  |  | Country |  |  | index |  |  | Repayment |  |  | maturity |  |  | Effective rate |  |  | Nominal rate |
93.007.000-9 |  | SQM S.A. |  |  |  | Chile |  |  |  | Foreign |  |  |  | Scotiabank Cayman |  |  |  | USA |  |  |  | US$ |  |  |  | Upon maturity |  |  |  | 05-29-2023 |  |  |  | 3.60 | % |  |  | 3.98 | %
Foreign |  | Nitratos Naturais do Chile Lim |  |  |  | Brazil |  |  |  | Foreign |  |  |  | Banco ITAU Brasil |  |  |  | Brazil |  |  |  | BRL |  |  |  | Upon maturity |  |  |  | 01-31-2019 |  |  |  | 5.17 | % |  |  | 5.17 | %
Foreign |  | SQM Brasil Limitada |  |  |  | Brazil |  |  |  | Foreign |  |  |  | Banco ITAU Brasil |  |  |  | Brazil |  |  |  | BRL |  |  |  | Upon maturity |  |  |  | 01-31-2019 |  |  |  | 5.5 | % |  |  | 5.5 | %
Debtor |  | Creditor |  |  | Nominal amounts as of December 31, 2018 |  |  | Current amounts as of December 31, 2018 |
Company |  | Financial institution |  |  | Up to 90 days |  |  | 90 days to ‎ 1 year |  |  | Total |  |  | Up to 90 days |  |  | 90 days to ‎ 1 year |  |  | Subtotal |  |  | Borrowing ‎ costs |  |  | Total |
|  |  |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | 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 |
b) Unsecured obligations, current: As of December 31, 2019 and 2018, the detail of current unsecured interest-bearing obligations is composed of promissory notes and bonds is as follows:
Debtor |  |  | Number of |  |  |  |  |  |  |  |  |  |  |  | Periodicity |  |  |  |  |  |  |
|  |  | registration or ID of |  |  |  |  |  |  |  |  | Currency or |  |  | Payment of |  |  |  |  |  |  |  |  |  |
Tax ID No. |  | Company |  |  | Country |  |  | the instrument |  |  | Series |  |  | Maturity date |  |  | adjustment index |  |  | interest |  |  | Repayment |  |  | Effective rate |  |  | Nominal rate |
93.007.000-9 |  |  | SQM S.A. |  |  |  | Chile |  |  |  | - |  |  |  | MUS$250 |  |  |  | 04-21-2020 |  |  |  | US$ |  |  |  | Semiannual |  |  |  | Upon maturity |  |  |  | 0.43 | % |  |  | 5.50 | %
93.007.000-9 |  |  | SQM S.A. |  |  |  | Chile |  |  |  | - |  |  |  | MUS$250 |  |  |  | 01-28-2020 |  |  |  | US$ |  |  |  | Semiannual |  |  |  | Upon maturity |  |  |  | 2.35 | % |  |  | 4.38 | %
93.007.000-9 |  |  | SQM S.A. |  |  |  | Chile |  |  |  | - |  |  |  | MUS$300 |  |  |  | 04-03-2020 |  |  |  | US$ |  |  |  | Semiannual |  |  |  | Upon maturity |  |  |  | 1.42 | % |  |  | 3.63 | %
93.007.000-9 |  |  | SQM S.A. |  |  |  | Chile |  |  |  | - |  |  |  | MUS$450 |  |  |  | 05-07-2020 |  |  |  | US$ |  |  |  | Semiannual |  |  |  | Upon maturity |  |  |  | 4.07 | % |  |  | 4.25 | %
93.007.000-9 |  |  | SQM S.A. |  |  |  | Chile |  |  |  | 564 |  |  |  | H |  |  |  | 01-05-2020 |  |  |  | UF |  |  |  | Semiannual |  |  |  | Semiannual |  |  |  | 1.36 | % |  |  | 4.90 | %
93.007.000-9 |  |  | SQM S.A. |  |  |  | Chile |  |  |  | 699 |  |  |  | O |  |  |  | 02-01-2020 |  |  |  | UF |  |  |  | Semiannual |  |  |  | Upon maturity |  |  |  | 2.41 | % |  |  | 3.80 | %
93.007.000-9 |  |  | SQM S.A. |  |  |  | Chile |  |  |  | 563 |  |  |  | P |  |  |  | 01-15-2020 |  |  |  | UF |  |  |  | Semiannual |  |  |  | Upon maturity |  |  |  | 2.71 | % |  |  | 3.25 | %
93.007.000-9 |  |  | SQM S.A. |  |  |  | Chile |  |  |  | 700 |  |  |  | Q |  |  |  | 06-01-2020 |  |  |  | UF |  |  |  | Semiannual |  |  |  | Upon maturity |  |  |  | 3.11 | % |  |  | 3.45 | %
|  |  |  |  |  |  |  | Nominal amounts as of December 31, 2019 |  |  | Current amounts as of December 31, 2019 |
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 |  |  |  | MUS$250 |  |  |  | - |  |  |  | 252,674 |  |  |  | 252,674 |  |  |  | - |  |  |  | 252,674 |  |  |  | 252,674 |  |  |  | (386 | ) |  |  | 252,288 |
SQM S.A. |  |  | Chile |  |  |  | MUS$250 |  |  |  | 4,648 |  |  |  | - |  |  |  | 4,648 |  |  |  | 4,648 |  |  |  | - |  |  |  | 4,648 |  |  |  | (433 | ) |  |  | 4,215 |
SQM S.A. |  |  | Chile |  |  |  | MUS$300 |  |  |  | - |  |  |  | 2,658 |  |  |  | 2,658 |  |  |  | - |  |  |  | 2,658 |  |  |  | 2,658 |  |  |  | (614 | ) |  |  | 2,044 |
SQM S.A. |  |  | Chile |  |  |  | MUS$450 |  |  |  | - |  |  |  | 2,869 |  |  |  | 2,869 |  |  |  | - |  |  |  | 2,869 |  |  |  | 2,869 |  |  |  | (679 | ) |  |  | 2,190 |
SQM S.A. |  |  | Chile |  |  |  | H |  |  |  | 17,166 |  |  |  | - |  |  |  | 17,166 |  |  |  | 17,166 |  |  |  | - |  |  |  | 17,166 |  |  |  | (139 | ) |  |  | 17,027 |
SQM S.A. |  |  | Chile |  |  |  | O |  |  |  | 890 |  |  |  | - |  |  |  | 890 |  |  |  | 890 |  |  |  | - |  |  |  | 890 |  |  |  | (67 | ) |  |  | 823 |
SQM S.A. |  |  | Chile |  |  |  | P |  |  |  | 1,686 |  |  |  | - |  |  |  | 1,686 |  |  |  | 1,686 |  |  |  | - |  |  |  | 1,686 |  |  |  | (12 | ) |  |  | 1,674 |
SQM S.A. |  |  | Chile |  |  |  | Q |  |  |  | - |  |  |  | 323 |  |  |  | 323 |  |  |  | - |  |  |  | 323 |  |  |  | 323 |  |  |  | (6 | ) |  |  | 317 |
Total |  |  |  |  |  |  |  |  |  |  | 24,390 |  |  |  | 258,524 |  |  |  | 282,914 |  |  |  | 24,390 |  |  |  | 258,524 |  |  |  | 282,914 |  |  |  | (2,336 | ) |  |  | 280,578 |
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.
Debtor |  |  | Number of |  |  |  |  |  |  |  |  |  |  |  | Periodicity |  |  |  |  |  |  |
|  |  |  |  |  |  |  | registration or ID of |  |  |  |  |  |  |  |  | Currency or |  |  | Payment of |  |  |  |  |  |  |  |  |  |
Tax ID No. |  | Company |  |  | Country |  |  | the instrument |  |  | Series |  |  | Maturity date |  |  | adjustment index |  |  | interest |  |  | Repayment |  |  | Effective rate |  |  | Nominal rate |
93.007.000-9 |  |  | SQM S.A. |  |  |  | Chile |  |  |  | - |  |  |  | MUS$250 |  |  |  | 04-21-2019 |  |  |  | US$ |  |  |  | Semiannual |  |  |  | Upon maturity |  |  |  | 0.95 | % |  |  | 5.50 | %
93.007.000-9 |  |  | SQM S.A. |  |  |  | Chile |  |  |  | - |  |  |  | MUS$250 |  |  |  | 01-28-2019 |  |  |  | US$ |  |  |  | Semiannual |  |  |  | Upon maturity |  |  |  | 2.75 | % |  |  | 4.38 | %
93.007.000-9 |  |  | SQM S.A. |  |  |  | Chile |  |  |  | - |  |  |  | MUS$300 |  |  |  | 04-03-2019 |  |  |  | US$ |  |  |  | Semiannual |  |  |  | Upon maturity |  |  |  | 1.77 | % |  |  | 3.63 | %
93.007.000-9 |  |  | SQM S.A. |  |  |  | Chile |  |  |  | 564 |  |  |  | H |  |  |  | 01-05-2019 |  |  |  | UF |  |  |  | Semiannual |  |  |  | Semiannual |  |  |  | 1.90 | % |  |  | 4.90 | %
93.007.000-9 |  |  | SQM S.A. |  |  |  | Chile |  |  |  | 699 |  |  |  | O |  |  |  | 02-01-2019 |  |  |  | UF |  |  |  | Semiannual |  |  |  | Upon maturity |  |  |  | 2.60 | % |  |  | 3.80 | %
93.007.000-9 |  |  | SQM S.A. |  |  |  | Chile |  |  |  | 563 |  |  |  | P |  |  |  | 01-15-2019 |  |  |  | UF |  |  |  | Semiannual |  |  |  | Upon maturity |  |  |  | 3.07 | % |  |  | 3.25 | %
93.007.000-9 |  |  | SQM S.A. |  |  |  | Chile |  |  |  | 700 |  |  |  | Q |  |  |  | 06-01-2019 |  |  |  | UF |  |  |  | Semiannual |  |  |  | Upon maturity |  |  |  | 3.34 | % |  |  | 3.45 | %
|  |  |  |  |  |  |  | Nominal maturities as of December 31, 2018 |  |  | Current maturities as of December 31, 2018 |
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 |  |  |  | MUS$250 |  |  |  | 2,674 |  |  |  | - |  |  |  | 2,674 |  |  |  | 2,674 |  |  |  | - |  |  |  | 2,674 |  |  |  | (386 | ) |  |  | 2,288 |
SQM S.A. |  |  | Chile |  |  |  | MUS$250 |  |  |  | - |  |  |  | 4,648 |  |  |  | 4,648 |  |  |  | - |  |  |  | 4,648 |  |  |  | 4,648 |  |  |  | (433 | ) |  |  | 4,215 |
SQM S.A. |  |  | Chile |  |  |  | MUS$300 |  |  |  | 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. c) Bank borrowings, non-current The following table shows the details of bank loans that accrue non-current interest as of December 31, 2019 and 2018:
Debtor |  |  | Creditor |  |  | Currency or |  |  | Type of |  |  |  |  |  |  |
Tax ID No. |  |  | Company |  |  | Country |  |  | Tax ID No. |  |  | Financial institution |  |  | Country |  |  | adjustment index |  |  | amortization |  |  | Effective rate |  |  | Nominal rate |
| 93.007.000-9 |  |  |  | SQM S.A. |  |  |  | Chile |  |  |  | Foreign |  |  |  | Scotiabank Cayman |  |  |  | USA |  |  |  | USD |  |  |  | Maturity |  |  |  | 2.84 | % |  |  | 3.01 | %
Debtor |  | Creditor |  |  | Nominal non-current amounts as of December 31, 2019 |  |  | Non-current amounts as of December 31, 2019 |
Company |  | Financial institution |  |  | Between ‎ 1 and 2 |  |  | Between ‎ 2 and 3 |  |  | Between ‎ 3 and 4 |  |  | Total |  |  | Between ‎ 1 and 2 |  |  | Between ‎ 2 and 3 |  |  | Between ‎ 3 and 4 |  |  | Subtotal |  |  | Costs of ‎ obtaining ‎ loans |  |  | Total |
|  |  |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
SQM S.A. |  |  | Scotiabank Cayman |  |  |  | - |  |  |  | - |  |  |  | 70,000 |  |  |  | 70,000 |  |  |  | - |  |  |  | - |  |  |  | 70,000 |  |  |  | 70,000 |  |  |  | (862 | ) |  |  | 69,138 |
Total |  |  |  |  |  |  | - |  |  |  | - |  |  |  | 70,000 |  |  |  | 70,000 |  |  |  | - |  |  |  | - |  |  |  | 70,000 |  |  |  | 70,000 |  |  |  | (862 | ) |  |  | 69,138 |
Debtor |  |  | Creditor |  |  | Currency or |  |  | Type of |  |  |  |  |  |  |
Tax ID No. |  |  | Company |  |  | Country |  |  | Tax ID No. |  |  | Financial institution |  |  | Country |  |  | adjustment index |  |  | amortization |  |  | Effective rate |  |  | Nominal rate |
| 93.007.000-9 |  |  |  | SQM S.A |  |  |  | Chile |  |  |  | Foreign |  |  |  | Scotiabank Cayman |  |  |  | USA |  |  |  | USD |  |  |  | Maturity |  |  |  | 3.98 | % |  |  | 3.98 | %
Debtor |  | Creditor |  |  | Nominal non-current amounts as of December 31, 2018 |  |  | Non-current amounts as of December 31, 2018 |
Company |  | Financial institution |  |  | Between ‎1 and 2 |  |  | Between ‎2 and 3 |  |  | Between ‎3 and 4 |  |  | Total |  |  | Between ‎1 and 2 |  |  | Between ‎2 and 3 |  |  | Between ‎3 and 4 |  |  | Subtotal |  |  | Costs of ‎obtaining ‎loans |  |  | Total |
|  |  |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | 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 following table shows the details of bank loans that accrue non-current interest as of December 31, 2019 and 2018:
Debtor |  |  | Number of |  |  |  |  |  |  |  |  |  |  |  | Periodicity |  |  |  |  |  |  |
|  |  |  |  |  |  |  | registration or ID of |  |  |  |  |  |  |  |  | Currency or |  |  | Payment of |  |  |  |  |  |  |  |  |  |
Tax ID No. |  | Company |  |  | Country |  |  | the instrument |  |  | Series |  |  | Maturity date |  |  | adjustment index |  |  | interest |  |  | Repayment |  |  | Effective rate |  |  | Nominal rate |
93.007.000-9 |  |  | SQM S.A. |  |  |  | Chile |  |  |  | - |  |  |  | MUS$250 |  |  |  | 01-28-2025 |  |  |  | US$ |  |  |  | Semiannual |  |  |  | Upon maturity |  |  |  | 4.08 | % |  |  | 4.38 | %
93.007.000-9 |  |  | SQM S.A. |  |  |  | Chile |  |  |  | - |  |  |  | MUS$300 |  |  |  | 04-03-2023 |  |  |  | US$ |  |  |  | Semiannual |  |  |  | Upon maturity |  |  |  | 3.43 | % |  |  | 3.63 | %
93.007.000-9 |  |  | SQM S.A. |  |  |  | Chile |  |  |  | - |  |  |  | MUS$450 |  |  |  | 05-07-2029 |  |  |  | US$ |  |  |  | Semiannual |  |  |  | Upon maturity |  |  |  | 4.19 | % |  |  | 4.25 | %
93.007.000-9 |  |  | SQM S.A. |  |  |  | Chile |  |  |  | 564 |  |  |  | H |  |  |  | 01-05-2030 |  |  |  | UF |  |  |  | Semiannual |  |  |  | Semiannual |  |  |  | 4.78 | % |  |  | 4.90 | %
93.007.000-9 |  |  | SQM S.A. |  |  |  | Chile |  |  |  | 699 |  |  |  | O |  |  |  | 02-01-2033 |  |  |  | UF |  |  |  | Semiannual |  |  |  | Upon maturity |  |  |  | 3.70 | % |  |  | 5.50 | %
93.007.000-9 |  |  | SQM S.A. |  |  |  | Chile |  |  |  | 563 |  |  |  | P |  |  |  | 01-15-2028 |  |  |  | UF |  |  |  | Semiannual |  |  |  | Upon maturity |  |  |  | 3.24 | % |  |  | 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 amounts as of December 31, 2019 |  |  | Non-current amounts as of December 31, 2019 |
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 |  |  |  | (1,514 | ) |  |  | 248,486 |
MUS$300 |  |  | - |  |  |  | - |  |  |  | 300,000 |  |  |  | - |  |  |  | - |  |  |  | 300,000 |  |  |  | - |  |  |  | - |  |  |  | 300,000 |  |  |  | - |  |  |  | - |  |  |  | 300,000 |  |  |  | (1,393 | ) |  |  | 298,607 |
MUS$450 |  |  | - |  |  |  | - |  |  |  | - |  |  |  |  |  |  |  | 450,000 |  |  |  | 450,000 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 450,000 |  |  |  | 450,000 |  |  |  | (5,923 | ) |  |  | 444,077 |
H |  |  | 13,749 |  |  |  | 13,749 |  |  |  | 13,749 |  |  |  | 13,749 |  |  |  | 75,621 |  |  |  | 130,617 |  |  |  | 13,749 |  |  |  | 13,749 |  |  |  | 13,749 |  |  |  | 13,749 |  |  |  | 75,621 |  |  |  | 130,617 |  |  |  | (1,253 | ) |  |  | 129,364 |
O |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 56,715 |  |  |  | 56,715 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 56,715 |  |  |  | 56,715 |  |  |  | (811 | ) |  |  | 55,904 |
P |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 113,430 |  |  |  | 113,430 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 113,430 |  |  |  | 113,430 |  |  |  | (89 | ) |  |  | 113,341 |
Q |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 113,430 |  |  |  | 113,430 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 113,430 |  |  |  | 113,430 |  |  |  | (101 | ) |  |  | 113,329 |
Total |  |  | 13,749 |  |  |  | 13,749 |  |  |  | 313,749 |  |  |  | 13,749 |  |  |  | 1,059,196 |  |  |  | 1,414,192 |  |  |  | 13,749 |  |  |  | 13,749 |  |  |  | 313,749 |  |  |  | 13,749 |  |  |  | 1,059,196 |  |  |  | 1,414,192 |  |  |  | (11,084 | ) |  |  | 1,403,108 |
Debtor |  |  | Number of |  |  |  |  |  |  |  |  |  |  |  | Periodicity |  |  |  |  |  |  |
|  |  |  |  |  |  |  | registration or ID of |  |  |  |  |  |  |  |  | Currency or |  |  | Payment of |  |  |  |  |  |  |  |  |  |
Tax ID No. |  | Company |  |  | Country |  |  | the instrument |  |  | Series |  |  | Maturity date |  |  | adjustment index |  |  | interest |  |  | Repaymen |  |  | Effective rate |  |  | Nominal rate |
93.007.000-9 |  |  | SQM S.A. |  |  |  | Chile |  |  |  | - |  |  |  | MUS$250 |  |  |  | 04-21-2020 |  |  |  | US$ |  |  |  | Semiannual |  |  |  | Upon maturity |  |  |  | 5.50 | % |  |  | 5.50 | %
93.007.000-9 |  |  | SQM S.A. |  |  |  | Chile |  |  |  | - |  |  |  | MUS$250 |  |  |  | 01-28-2025 |  |  |  | US$ |  |  |  | Semiannual |  |  |  | Upon maturity |  |  |  | 4.38 | % |  |  | 4.38 | %
93.007.000-9 |  |  | SQM S.A. |  |  |  | Chile |  |  |  | - |  |  |  | MUS$300 |  |  |  | 04-03-2023 |  |  |  | US$ |  |  |  | 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 | % |  |  | 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 amounts as of December 31, 2018 |  |  | Non-current amounts as of December 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 |  |  | 14,428 |  |  |  | 14,428 |  |  |  | 14,428 |  |  |  | 14,428 |  |  |  | 100,992 |  |  |  | 158,704 |  |  |  | 14,428 |  |  |  | 14,428 |  |  |  | 14,428 |  |  |  | 14,428 |  |  |  | 100,992 |  |  |  | 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 |  |  | 264,428 |  |  |  | 14,428 |  |  |  | 314,428 |  |  |  | 14,428 |  |  |  | 648,562 |  |  |  | 1,256,274 |  |  |  | 264,428 |  |  |  | 14,428 |  |  |  | 314,428 |  |  |  | 14,428 |  |  |  | 648,562 |  |  |  | 1,256,274 |  |  |  | (6,795 | ) |  |  | 1,249,479 |
e) Additional information Bonds As of December 31, 2019 and 2018, the details of each issuance are as follows:
| (i) | Serie “H” bonds
On January 13, 2009, the Company placed the Series H bond for UF 4,000,000 (ThUS$139,216) at an annual interest rate of 4.9%, with a term of 21 years and amortizations of principal beginning in 2019. On July 5, 2019, amortization of principal amounted to UF 181,818.18, (ThUS$ 7.494) with an associated cross currency swap hedge income of ThUS$ 439. For the years ended December 31, 2019, 2018 and 2017 , the Company made the following payments relating to the Series H bonds:
Payments made |  | For the year ended ‎ December 31, ‎ 2019 |  |  | For the year ended ‎ December 31, ‎ 2018 |  |  | For the year ended ‎ December 31, ‎ 2017 |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Payments of interest, Series H bonds |  |  | 7,868 |  |  |  | 8,325 |  |  |  | 7,691 |
Hedge |  |  | 1,952 |  |  |  | 495 |  |  |  | - |
| (ii) | 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. For the years ended December 31, 2019, 2018 and 2017, the detail of payments charged to this line of single series bonds, second issue is as follows:
Payments made |  | For the year ended ‎ December 31, ‎ 2019 |  |  | For the year ended ‎ December 31, 2018 |  |  | For the year ended ‎ December 31, ‎ 2017 |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Interest payment |  |  | 13,750 |  |  |  | 13,750 |  |  |  | 13,750 |
| (iii) | Series “O” bonds
On April 4, 2012, the Company issued “Series O” for UF 1,500,000 (ThUS$ 69,901) at a term of 21 years with a single payment at the maturity of the term and annual interest rate of 3.80%. For the years ended December 31, 2019, 2018 and 2017, the Company made the following payments relating to Series O bonds and their associated hedging:
Payments made |  | For the year ended ‎ December 31, ‎ 2019 |  |  | For the year ended ‎ December 31, ‎ 2018 |  |  | For the year ended ‎ December 31, ‎ 2017 |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Payment of interest, Series O bonds |  |  | 2,308 |  |  |  | 2,457 |  |  |  | 2,301 |
Hedge |  |  | 354 |  |  |  | 205 |  |  |  | - |
| (iv) | Single series bonds, third issue MUS$ 300
On April 3, 2013, the Company issued a non-secured 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%. The funds raised were used to refinance long term liabilities and finance general corporate objectives. For the years ended December 31, 2019, 2018 and 2017, the following payments have been made with a debit to the line of single-series bonds, third issue:
Payments made |  | For the year ended ‎ December 31, ‎ 2019 |  |  | For the year ended ‎ December 31, ‎ 2018 |  |  | For the year ended ‎ December 31, ‎ 2017 |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Payment of interest |  |  | 10,875 |  |  |  | 10,875 |  |  |  | 10,875 |
| (v) | Single series bonds, fourth issuance ThUS $250,000
On October 23, 2014, the Company informed the CMF the issuance and placement of unsecured bonds amounting ThUS$ 250,000 in international markets. These bonds mature in 2025 and have annual interest rate of 4.375%, which were offered to investors at a price of 99.410% with respect to capital. The aforementioned agreement was performed in conformity with the provisions of Rule 144A of the US Securities Act of 1933 and these bonds were publicly offered in Chile. For the years ended December 31, 2019, 2018 and 2017, the following payments have been made.
Payments made |  | For the year ended ‎ December 31, ‎ 2019 |  |  | For the year ended ‎ December 31, ‎ 2018 |  |  | For the year ended ‎ December 31, ‎ 2017 |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Payment of interest |  |  | 10,938 |  |  |  | 10,938 |  |  |  | 10,938 |
| (vi) | Series “P” bonds
On April 5, 2018, the Company informed the CMF that on March 29, 2018, it was authorized the placement on the stock market of the Series “P” bond with a value of UF 3,000,000, with a charge to the 10 year Bonds Line registered in the CMF Securities Registry under number 563. The bonds Series P (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 early redeemed by the Company starting from the date of placement, that was, as of April 5, 2018. For the years ended December 31, 2019 and 2018, the following payments and their associated CCS have been made:
Payments made |  | For the year ended ‎ 31, 2019 |  |  | For the year ended ‎ 31, 2018 |  |  | For the year ended ‎ 31, 2017 |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Payment of interest |  |  | 3,960 |  |  |  | 1,085 |  |  |  | - |
CCS Coverage |  |  | 2,995 |  |  |  | 1,421 |  |  |  | - |
| (vii) | Series Q bonds
On October 31, 2018, the issuance of Series Q bonds (the "Bonds" Series Q) was authorized in the general stock market for the amount of UF 3,000,000, which were registered in the Securities Registry of your Commission on February 14, 2012 under number 700. The bonds Series Q (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 UF, from June 1, 2018 thereon; and (iii) may be early redeemed by the Company starting from the placement date, that was, 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. For the years ended December 31, 2019 and 2018, the following payments have been made:
Payments made |  | For the year ended ‎ 31, 2019 |  |  | For the year ended ‎ 31, 2018 |  |  | For the year ended ‎ 31, 2017 |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Payment of interest |  |  | 3,791 |  |  |  | 319 |  |  |  | - |
| (viii) | Single series fifth issue bonds ThUS$ 450,000
On May 7, 2019 the CMF was informed that the Company issued and placed unsecured bonds for ThUS$ 450,000 on international markets. Essentially, these bonds will mature in 2029, carry an interest rate of 4.25% per annum, and were offered to investors at a price of 99.984% with respect to the capital. This agreement was signed on May 7, 2019 and the bonds were issued and placed in accordance with the provisions of Rule 144A of the US Securities Act of 1933 and they will not be traded in Chile. For the year ended December 31, 2019, the following payments have been made:
Payments made |  | For the year ended ‎ 31, 2019 |  |  | For the year ended ‎ 31, 2018 |  |  | For the year ended ‎ 31, 2017 |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Payment of interest |  |  | 9,563 |  |  |  | - |  |  |  | - |
f) Current and non-current lease liabilities
|  | Current |  |  | Non-Current |  |  | Balance as of |
Associated leasing |  | Up to 1 ‎ month |  |  | 1 to 3 ‎ months |  |  | 3 to 12 ‎ months |  |  | Total |  |  | 1 to 5 ‎ years |  |  | 5 or more ‎ years |  |  | Total |  |  | December 31, ‎ 2019 |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Buildings |  |  | 262 |  |  |  | 795 |  |  |  | 1,830 |  |  |  | 2,887 |  |  |  | 13,507 |  |  |  | 9,792 |  |  |  | 23,299 |  |  |  | 26,186 |
Transport equipment |  |  | 70 |  |  |  | 211 |  |  |  | 571 |  |  |  | 852 |  |  |  | 2,530 |  |  |  | - |  |  |  | 2,530 |  |  |  | 3,382 |
Machinery, plant and equipment |  |  | 327 |  |  |  | 993 |  |  |  | 2,635 |  |  |  | 3,955 |  |  |  | 3,993 |  |  |  | 381 |  |  |  | 4,374 |  |  |  | 8,329 |
Total |  |  | 659 |  |  |  | 1,999 |  |  |  | 5,036 |  |  |  | 7,694 |  |  |  | 20,030 |  |  |  | 10,173 |  |  |  | 30,203 |  |  |  | 37,897 |
|  | As of December 31, |  |  | Adoption of |  |  | Monetary |  |  | Non- Monetary |  |  | Balance as of |
Changes in Lease Liabilities |  | 2018 |  |  | IFRS 16 |  |  | Principal l paid |  |  | Interest paid |  |  | Interest accrued |  |  | December 31, 2019 |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Buildings |  |  | - |  |  |  | 29,289 |  |  |  | (3,101 | ) |  |  | (840 | ) |  |  | 838 |  |  |  | 26,186 |
Machinery, plant and equipment |  |  | - |  |  |  | 11,933 |  |  |  | (3,605 | ) |  |  | (635 | ) |  |  | 636 |  |  |  | 8,329 |
Transport equipment |  |  | - |  |  |  | 3,893 |  |  |  | (515 | ) |  |  | (62 | ) |  |  | 66 |  |  |  | 3,382 |
Total |  |  | - |  |  |  | 45,115 |  |  |  | (7,221 | ) |  |  | (1,537 | ) |  |  | 1,540 |  |  |  | 37,897 |
The weighted average of the incremental lease loan rate applied to lease liabilities recognized in the statement of financial position as of December 31, 2019 is 8.08%. Operating lease expenses Total lease expenses relating to lease payments under 1 year, low-value leases and variable payments amounted to ThUS$ 51,756 for the year ended December 31, 2019. See Note 24.8. 13.5 Trade and other payables
| a) | Details trade and other payables
|  | As of December 31, 2019 |  |  | As of December 31, 2018 |
Details trade and Other payables |  | Current |  |  | Non-current |  |  | Total |  |  | Current |  |  | Non-current |  |  | Total |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Accounts payable |  |  | 205,414 |  |  |  | - |  |  |  | 205,414 |  |  |  | 163,373 |  |  |  | - |  |  |  | 163,373 |
Other accounts payable |  |  | 376 |  |  |  | - |  |  |  | 376 |  |  |  | 378 |  |  |  | - |  |  |  | 378 |
Total |  |  | 205,790 |  |  |  | - |  |  |  | 205,790 |  |  |  | 163,751 |  |  |  | - |  |  |  | 163,751 |
As of December 31, 2019 and 2018, the balance of current and past due suppliers is as follows: Suppliers current on all payments
|  | Amounts according to payment periods as of December 31, 2019 |
Type of Supplier |  | Up to 30 days |  |  | 31-60 days |  |  | 61-90 days |  |  | 91 - 120 days |  |  | 121 – 365 ‎ days |  |  | 366 and more ‎ days |  |  | Total |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | ThUS$ |
Goods |  |  | 126,577 |  |  |  | 4,655 |  |  |  | 128 |  |  |  | 116 |  |  |  | 2,019 |  |  |  | - |  |  |  | 133,495 |
Services |  |  | 51,785 |  |  |  | 168 |  |  |  | - |  |  |  | - |  |  |  | 87 |  |  |  | - |  |  |  | 52,040 |
Others |  |  | 8,741 |  |  |  | 146 |  |  |  | - |  |  |  | - |  |  |  |  |  |  |  | - |  |  |  | 8,887 |
Total |  |  | 187,103 |  |  |  | 4,969 |  |  |  | 128 |  |  |  | 116 |  |  |  | 2,106 |  |  |  | - |  |  |  | 194,422 |
|  | Amounts according to payment periods as of December 31, 2018 |
Type of Supplier |  | Up to 30 days |  |  | 31-60 days |  |  | 61-90 days |  |  | 91 - 120 days |  |  | 121 - 365 ‎ days |  |  | 366 and more ‎ days |  |  | Total |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | ThUS$ |
Goods |  |  | 48,969 |  |  |  | 1,919 |  |  |  | 912 |  |  |  | 25 |  |  |  | 280 |  |  |  | - |  |  |  | 52,105 |
Services |  |  | 37,376 |  |  |  | 314 |  |  |  | 157 |  |  |  | 107 |  |  |  | 54 |  |  |  | - |  |  |  | 38,008 |
Others |  |  | 54,978 |  |  |  | 161 |  |  |  | 20 |  |  |  | - |  |  |  | 3 |  |  |  | - |  |  |  | 55,162 |
Total |  |  | 141,323 |  |  |  | 2,394 |  |  |  | 1,089 |  |  |  | 132 |  |  |  | 337 |  |  |  | - |  |  |  | 145,275 |
Suppliers past due on payments
|  | Amounts according to payment periods as of December 31, 2019 |
Type of Supplier |  | Up to 30 days |  |  | 31-60 days |  |  | 61-90 days |  |  | 91 - 120 days |  |  | 121 – 365 ‎ days |  |  | 366 and more ‎ days |  |  | Total |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | ThUS$ |
Goods |  |  | 2,086 |  |  |  | 264 |  |  |  | 35 |  |  |  | 65 |  |  |  | 1,060 |  |  |  | - |  |  |  | 3,510 |
Services |  |  | 3,073 |  |  |  | 329 |  |  |  | 116 |  |  |  | 387 |  |  |  | 580 |  |  |  | - |  |  |  | 4,485 |
Others |  |  | 1,918 |  |  |  | 45 |  |  |  | 311 |  |  |  | 215 |  |  |  | 508 |  |  |  | - |  |  |  | 2,997 |
Total |  |  | 7,077 |  |  |  | 638 |  |  |  | 462 |  |  |  | 667 |  |  |  | 2,148 |  |  |  | - |  |  |  | 10,992 |
|  | Amounts according to payment periods as of December 31, 2018 |
Type of Supplier |  | Up to 30 days |  |  | 31-60 days |  |  | 61-90 days |  |  | 91 - 120 days |  |  | 121 – 365 ‎ days |  |  | 366 and more days |  |  | Total |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | ThUS$ |
Goods |  |  | 1,533 |  |  |  | 209 |  |  |  | 210 |  |  |  | 255 |  |  |  | 462 |  |  |  | - |  |  |  | 2,669 |
Services |  |  | 12,229 |  |  |  | 838 |  |  |  | 109 |  |  |  | 111 |  |  |  | 450 |  |  |  | - |  |  |  | 13,737 |
Others |  |  | 1,039 |  |  |  | 385 |  |  |  | 92 |  |  |  | 6 |  |  |  | 170 |  |  |  | - |  |  |  | 1,692 |
Total |  |  | 14,801 |  |  |  | 1,432 |  |  |  | 411 |  |  |  | 372 |  |  |  | 1,082 |  |  |  | - |  |  |  | 18,098 |
Purchase commitments held by the Company are recognized as liabilities when the goods and services are received by the Company. As of December 31, 2019, the Company has purchase orders amounting to ThUS$ 101,280 (ThUS$ 59,919 as of December 31, 2018). 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 |  | As of December 31, ‎ 2019 |  |  | Effect on profit or loss ‎ for the year ended ‎ December 31, 2019 |  |  | As of December 31, ‎ 2018 |  |  | Effect on profit or loss ‎ for the year ended ‎ December 31, 2018 |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Current |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivative financial instruments (IRS) |  |  | - |  |  |  | (16 | ) |  |  | 91 |  |  |  | 16 |
Total |  |  | - |  |  |  | (16 | ) |  |  | 91 |  |  |  | 16 |
13.7 Financial asset and liability categories a) Financial Assets
|  | As of December 31, 2019 |  |  | As of December 31, 2018 |
Description of financial assets |  | Current |  |  | Non-current |  |  | Total |  |  | Current |  |  | Non-current |  |  | Total |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Cash and cash equivalents |  |  | 588,530 |  |  |  | - |  |  |  | 588,530 |  |  |  | 556,066 |  |  |  | - |  |  |  | 556,066 |
Trade receivables due from related parties |  |  | 61,227 |  |  |  | - |  |  |  | 61,227 |  |  |  | 42,790 |  |  |  | - |  |  |  | 42,790 |
Financial assets measured at amortized cost |  |  | 485,689 |  |  |  | 75 |  |  |  | 485,764 |  |  |  | 291,790 |  |  |  | 75 |  |  |  | 291,865 |
Loans and receivables measured at amortized cost |  |  | 399,142 |  |  |  | 1,710 |  |  |  | 400,852 |  |  |  | 466,619 |  |  |  | 2,275 |  |  |  | 468,894 |
Total financial assets measured at amortized cost |  |  | 1,534,588 |  |  |  | 1,785 |  |  |  | 1,536,373 |  |  |  | 1,357,265 |  |  |  | 2,350 |  |  |  | 1,359,615 |
Derivative financial instruments for hedging purposes |  |  | 17,270 |  |  |  | 3,918 |  |  |  | 21,188 |  |  |  | 18,238 |  |  |  | 13,425 |  |  |  | 31,663 |
Derivative financial instruments held for trading |  |  | 2,531 |  |  |  | - |  |  |  | 2,531 |  |  |  | 2,693 |  |  |  | - |  |  |  | 2,693 |
Financial assets at fair value through equity |  |  | - |  |  |  | 4,785 |  |  |  | 4,785 |  |  |  | - |  |  |  | 3,631 |  |  |  | 3,631 |
Total financial assets at fair value |  |  | 19,801 |  |  |  | 8,703 |  |  |  | 28,504 |  |  |  | 20,931 |  |  |  | 17,056 |  |  |  | 37,987 |
Total financial assets |  |  | 1,554,389 |  |  |  | 10,488 |  |  |  | 1,564,877 |  |  |  | 1,378,196 |  |  |  | 19,406 |  |  |  | 1,397,602 |
b) Financial Liabilities
|  | As of December 31, 2019 |  |  | As of December 31, 2018 |
Description of financial liabilities |  | Current |  |  | Non-current |  |  | Total |  |  | Current |  |  | Non-current |  |  | Total |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Derivative financial instruments for hedging purposes |  |  | 7,183 |  |  |  | 16,477 |  |  |  | 23,660 |  |  |  | 5,285 |  |  |  | 12,033 |  |  |  | 17,318 |
Derivative financial instruments held for trading |  |  | 3,168 |  |  |  | - |  |  |  | 3,168 |  |  |  | 2,855 |  |  |  | - |  |  |  | 2,855 |
Financial liabilities at fair value |  |  | 10,351 |  |  |  | 16,477 |  |  |  | 26,828 |  |  |  | 8,140 |  |  |  | 12,033 |  |  |  | 20,173 |
Bank loans |  |  | 199 |  |  |  | 69,138 |  |  |  | 69,337 |  |  |  | 300 |  |  |  | 68,870 |  |  |  | 69,170 |
Obligations to the public |  |  | 280,578 |  |  |  | 1,403,108 |  |  |  | 1,683,686 |  |  |  | 15,145 |  |  |  | 1,249,479 |  |  |  | 1,264,624 |
Lease liabilities |  |  | 7,694 |  |  |  | 30,203 |  |  |  | 37,897 |  |  |  | - |  |  |  | - |  |  |  | - |
Trade and other payables) |  |  | 205,790 |  |  |  | - |  |  |  | 205,790 |  |  |  | 163,751 |  |  |  | - |  |  |  | 163,751 |
Trade payables due to related parties |  |  | 475 |  |  |  | - |  |  |  | 475 |  |  |  | 9 |  |  |  | - |  |  |  | 9 |
Total financial liabilities at amortized cost |  |  | 494,736 |  |  |  | 1,502,449 |  |  |  | 1,997,185 |  |  |  | 179,205 |  |  |  | 1,318,349 |  |  |  | 1,497,554 |
Total financial liabilities |  |  | 505,087 |  |  |  | 1,518,926 |  |  |  | 2,024,013 |  |  |  | 187,345 |  |  |  | 1,330,382 |  |  |  | 1,517,727 |
13.8 Fair value measurement of assets and liabilities Financial assets and liabilities measured at fair value consist of forwards hedging the mismatch in the balance sheet and cash flows, options hedging the mismatch in the balance sheet and cross currency swaps to hedge bonds issued in local currency (Peso/UF). The value of the Company’s assets and liabilities recognized by cross currency swaps contracts is calculated as the difference between the present value of discounted cash flows of the asset (Ch/UF) and liability (US$) parts of the derivative. In the case of the interest rate swaps, the asset value recognized is calculated as the difference between the discounted cash flows of the asset (variable rate) and liability (fixed rate) parts of the derivative. Forwards are calculated as the difference between the strike price of the contract and the spot price plus the forwards points at the date of the contract. Financial options: the value recognized is calculated using the Black-Scholes method. In the case of cross currency swaps, the entry data used for the valuation models are UF, peso, USD and basis swap rates. In the case of fair value calculations for interest rate swaps, the Forward Rate Agreement rate and ICVS 23 Curve (Bloomberg: cash/deposits rates, futures, swaps). In the case of forwards, the forwards curve for the currency in question is used. Finally, for options, the spot price, risk-free rate and volatility of exchange rate are used, all in accordance with the currencies used in each valuation. The financial information used as entry data for the Company’s valuation models is obtained from Bloomberg, the well-known financial software company. Conversely, the fair value provided by the counterparties of derivatives contracts is used only as a control and not for valuation. The effects on profit or loss of movements in these amounts is recognized in the caption finance costs, foreign currency translation gain (loss) or cash flow hedges in the statement of comprehensive income, depending on each particular case. The fair value measurement of debt is only performed to determine the present market value of secured and unsecured long-term obligations; bonds denominated in local currency (Ch$/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, considering 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 Association of Banks and Financial Institutions. 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.
|  | As of December 31, 2019 |  |  | Measurement Methodology |
Fair value measurement of assets and liabilities |  | Carrying Amount at ‎ Amortized |  |  | Fair value ‎ (disclosure) |  |  | Fair value |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Financial Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  |  | 588,530 |  |  |  | 588,530 |  |  |  | - |  |  |  | - |  |  |  | 588,530 |  |  |  | - |
Other current financial assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
- Time deposits |  |  | 485,689 |  |  |  | 485,689 |  |  |  | - |  |  |  | - |  |  |  | 485,689 |  |  |  | - |
- Derivative instruments |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
- Forwards |  |  | - |  |  |  | - |  |  |  | 2,420 |  |  |  | - |  |  |  | 2,420 |  |  |  | - |
- Options |  |  | - |  |  |  | - |  |  |  | 111 |  |  |  | - |  |  |  | 111 |  |  |  | - |
- Hedging assets |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
- Investment hedge swaps |  |  | - |  |  |  | - |  |  |  | 17,270 |  |  |  | - |  |  |  | 17,270 |  |  |  | - |
Non-current accounts receivable |  |  | 1,710 |  |  |  | 1,710 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Other non-current financial assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
- Other |  |  | 94 |  |  |  | 94 |  |  |  | - |  |  |  | - |  |  |  | 94 |  |  |  | - |
- Options |  |  | - |  |  |  | - |  |  |  | 4,785 |  |  |  | 4,785 |  |  |  | - |  |  |  | - |
- Hedging assets – Swaps |  |  | - |  |  |  | - |  |  |  | 3,918 |  |  |  | - |  |  |  | 3,918 |  |  |  | - |
Other current financial liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
- Bank loans |  |  | 199 |  |  |  | 199 |  |  |  | - |  |  |  | - |  |  |  | 199 |  |  |  | - |
- Derivative instruments |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
- Forwards |  |  | - |  |  |  | - |  |  |  | 2,837 |  |  |  | - |  |  |  | 2,837 |  |  |  | - |
- O ptions |  |  | - |  |  |  | - |  |  |  | 289 |  |  |  | - |  |  |  | 289 |  |  |  | - |
- Hedging liabilities |  |  | - |  |  |  | - |  |  |  | 7,183 |  |  |  | - |  |  |  | 7,183 |  |  |  | - |
- Unsecured obligations |  |  | 280,578 |  |  |  | 280,578 |  |  |  | - |  |  |  | - |  |  |  | 280,578 |  |  |  | - |
- Current lease liabilities |  |  | 7,694 |  |  |  | 7,694 |  |  |  | - |  |  |  | - |  |  |  | 7,694 |  |  |  | - |
Other non-current financial liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
- Bank loans |  |  | 69,138 |  |  |  | 71,033 |  |  |  | - |  |  |  | - |  |  |  | 71,033 |  |  |  | - |
- Unsecured obligations |  |  | 1,403,108 |  |  |  | 1,658,506 |  |  |  | - |  |  |  | - |  |  |  | 1,658,506 |  |  |  | - |
- Non-current hedging liabilities |  |  | - |  |  |  | - |  |  |  | 16,477 |  |  |  | - |  |  |  | 16,477 |  |  |  | - |
- Non-current lease liabilities |  |  | 30,203 |  |  |  | 33,187 |  |  |  | - |  |  |  | - |  |  |  | 33,187 |  |  |  | - |
|  | As of December 31, 2018 |  |  | Measurement Methodology |
Fair value measurement of assets and liabilities |  | Carrying Amount at ‎ Amortized |  |  | Fair value ‎ (informative) |  |  | Fair value |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Financial Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  |  | 556,066 |  |  |  | 556,066 |  |  |  | - |  |  |  | - |  |  |  | 556,066 |  |  |  | - |
Other current financial assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
- Time deposits |  |  | 291,790 |  |  |  | 291,790 |  |  |  | - |  |  |  | - |  |  |  | 291,790 |  |  |  | - |
- Forwards |  |  | - |  |  |  | - |  |  |  | 2,637 |  |  |  | - |  |  |  | 2,637 |  |  |  | - |
- Options |  |  | - |  |  |  | - |  |  |  | 56 |  |  |  | - |  |  |  | 56 |  |  |  | - |
- Hedging assets |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
- Investment hedge swaps |  |  | - |  |  |  | - |  |  |  | 18,238 |  |  |  | - |  |  |  | 18,238 |  |  |  | - |
Non-current accounts receivable |  |  | 2,275 |  |  |  | 2,275 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Other non-current financial assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
- Other |  |  | 75 |  |  |  | 75 |  |  |  | - |  |  |  | - |  |  |  | 75 |  |  |  | - |
- Options |  |  | - |  |  |  | - |  |  |  | 3,631 |  |  |  | - |  |  |  | - |  |  |  | - |
- Hedging assets – Swaps |  |  | - |  |  |  | - |  |  |  | 13,425 |  |  |  | - |  |  |  | 13,425 |  |  |  | - |
Other current financial liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
- Bank loans |  |  | 300 |  |  |  | 300 |  |  |  | - |  |  |  | - |  |  |  | 300 |  |  |  | - |
- Forwards |  |  | - |  |  |  | - |  |  |  | 2,723 |  |  |  | - |  |  |  | 2,723 |  |  |  | - |
- Options |  |  | - |  |  |  | - |  |  |  | 132 |  |  |  | - |  |  |  | 132 |  |  |  | - |
- Hedging liabilities - Swaps |  |  | - |  |  |  | - |  |  |  | 5,285 |  |  |  | - |  |  |  | 5,285 |  |  |  | - |
- Unsecured obligations |  |  | 15,145 |  |  |  | 15,145 |  |  |  | - |  |  |  | - |  |  |  | 15,145 |  |  |  | - |
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 |  |  |  | - |
13.9 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 equivalents approximates fair value due to the short-term maturities of these instruments.
|  | The fair value of trade receivables and payables, 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.
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.

X
- Definition The entire disclosure for financial instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 7 -IssueDate 2019-01-01 -Section Scope -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2019-en-r&doctype=Standard&dita_xref=IFRS07_g3-5A_TI -URIDate 2019-03-27 + Details
Name: | ifrs-full_DisclosureOfFinancialInstrumentsExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of financials instruments + References No definition available. + Details
Name: | sqm_DisclosureOfFinancialsInstrumentsAbstract
Namespace Prefix: | sqm_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration