XML 32 R16.htm IDEA: XBRL DOCUMENT v3.20.1

Cash and cash equivalents

12 Months Ended

Dec. 31, 2019

DisclosureOfCashAndCashEquivalentsExplanatory [Abstract]

Cash and cash equivalents

Note 10             Cash and cash equivalents

10.1          Types of cash and cash equivalents

As of December 31, 2019, and December 31, 2018, cash and cash equivalents are detailed as follows:

Cash		As of December ‎31, 2019				As of December ‎31, 2018
		ThUS$				ThUS$
Cash on hand			71				75
Cash in banks			105,141				101,662
Other demand deposits			6,986				746
Total cash			112,198				102,483

Cash equivalents		As of December ‎31, 2019				As of December ‎31, 2018
		ThUS$				ThUS$
Short-term deposits, classified as cash equivalents			149,099				187,666
Short-term investments, classified as cash equivalents			327,233				265,917
Total cash equivalents			476,332				453,583
Total cash and cash equivalents			588,530				556,066

10.2          Short-term investments, classified as cash equivalents

As of December 31, 2019 and 2018, the short-term investments classified as cash and cash equivalents relate to mutual funds (investment liquidity funds) for investments in:

Institution		As of December ‎31, 2019				As of December ‎31, 2018
		ThUS$				ThUS$
Legg Mason - Western Asset Institutional Cash Reserves			181,155				132,108
JP Morgan US dollar Liquidity Fund Institutional			146,078				133,809
Total			327,233				265,917

Short-term investments are highly liquid mutual funds that are basically invested in short-term fixed rate notes in the U.S. market.

10.3          Information on cash and cash equivalents by currency

As of December 31, 2019 and 2018, information on cash and cash equivalents by currency is detailed as follows:

Original currency		As of December ‎31, 2019				As of December ‎31, 2018
		ThUS$				ThUS$
Chilean Peso (*)			8,240				157,500
US Dollar			558,572				353,674
Euro			3,131				4,738
Mexican Peso			2,103				1,242
South African Rand			3,929				5,219
Japanese Yen			1,559				1,786
Peruvian Sol			4				1
Indian rupee			6				-
Chinese Yuan			2,484				2,305
Dirham United Arab Emirates			-				1
Indonesian rupee			3				-
Argentine Peso			3				2
Pound Sterling			3				-
Australian dollar			8,492				29,598
Polish Zloty			1				-
Total			588,530				556,066

(*) The Company maintains financial derivative instruments policies which allow Management to convert term deposits denominated in pesos and UF to US dollars.

10.4           Amount restricted (unavailable) cash balances

Cash on hand and cash in banks are available resources, and their carrying value is equal to their fair value.

Financial assets pledged as collateral

On November 4, 2004, Isapre Norte Grande has a guarantee equivalent to the total amount owed to its subsidiaries and medical suppliers, which is administered and maintained by Banco de Chile.

As of December 31, 2019 and 2018, pledged assets are as follows

Restricted cash balances		As of December ‎31, 2019				As of December ‎31, 2018
		ThUS$				ThUS$
Isapre Norte Grande Ltda.			551				712
Total			551				712

10.5         Short-term deposits, classified as cash equivalents

The detail at the end of each period is as follows:

Receiver of the deposit		Type of deposit				Original currency				Interest rate				Placement date				Maturity				Principal				Interest accrued to-date				As of December 31, 2019
																						ThUS$				ThUS$				ThUS$
Banco crédito e inversiones			Fixed term				US$				3.45	%			11-18-2019				02-13-2020				18,000				74				18,074
Banco crédito e inversiones			Fixed term				US$				2.85	%			12-26-2019				02-20-2020				20,000				8				20,008
Banco de Chile			Fixed term				US$				3.45	%			11-15-2019				01-23-2020				14,000				62				14,062
Banco de Chile			Fixed term				US$				3.50	%			11-15-2019				01-09-2020				18,000				80				18,080
Banco de Chile			Fixed term				US$				3.45	%			11-15-2019				01-16-2020				18,000				79				18,079
Banco Itau Chile			Fixed term				US$				2.90	%			12-26-2019				02-20-2020				33,000				13				33,013
Scotiabank Sud Americano			Fixed term				CLP$				2.16	%			12-30-2019				08-08-2020				6,812				-				6,812
Banco crédito e inversiones			Fixed term				US$				3.51	%			11-21-2019				01-28-2020				1,000				4				1,004
Banco crédito e inversiones			Fixed term				US$				3.75	%			12-02-2019				02-27-2020				2,000				6				2,006
Banco crédito e inversiones			Fixed term				US$				3.60	%			11-25-2019				01-28-2020				1,000				4				1,004
Banco Estado			Fixed term				US$				2.15	%			16-12-2019				01-06-2020				500				-				500
Banco Santander - Santiago			Fixed term				US$				2.55	%			12-09-2019				02-04-2020				1,700				3				1,703
Corpbanca			Fixed term				US$				2.55	%			12-16-2019				01-06-2020				2,500				3				2,503
Corpbanca			Fixed term				US$				3.64	%			11-29-2019				02-13-2020				1,500				5				1,505
Corpbanca			Fixed term				US$				2.80	%			11-12-2019				01-28-2020				2,000				8				2,008
Banco Santander - Santiago			Fixed term				US$				2.33	%			10-16-2019				01-12-2020				1,000				5				1,005
Scotiabank Sud Americano			Fixed term				US$				2.45	%			12-17-2019				01-13-2020				3,600				3				3,603
Scotiabank Sud Americano			Fixed term				US$				3.20	%			11-13-2019				01-30-2020				500				2				502
Scotiabank Sud Americano			Fixed term				US$				3.40	%			12-02-2019				02-27-2020				2,000				5				2,005
Scotiabank Sud Americano			Fixed term				US$				3.45	%			11-18-2019				01-30-2020				1,500				6				1,506
BBVA Banco Francés			Fixed term				US$				39	%			12-26-2019				01-27-2020				52				1				53
Banco Itaú S.A.			On demand				US$				8	%			10-17-2019				12-31-2019				64				-				64
																							148,728				371				149,099

Receiver of the deposit		Type of deposit				Original currency				Interest rate				Placement date				Maturity date				Principal				Interest accrued to-date				As of December 31, 2018
																						ThUS$				ThUS$				ThUS$
Scotiabank			Fixed term				Ch$				2.50	%			10-18-2018				01-16-2019				14,606				90				14,696
Banco Crédito e Inversiones			Fixed term				Ch$				2.55	%			11-06-2018				01-09-2019				19,632				92				19,724
Scotiabank			Fixed term				Ch$				2.55	%			11-30-2018				01-03-2019				14,393				38				14,431
Scotiabank			Fixed term				Ch$				2.55	%			12-03-2018				01-03-2019				11,515				27				11,542
Itau-Corpbanca			Fixed term				Ch$				2.50	%			12-03-2018				01-03-2019				14,393				34				14,427
Itau-Corpbanca			Fixed term				Ch$				2.50	%			12-07-2018				01-09-2019				14,393				29				14,422
Itau-Corpbanca			Fixed term				Ch$				2.50	%			12-10-2018				01-09-2019				12,954				23				12,977
Scotiabank			Fixed term				Ch$				2.35	%			12-10-2018				01-09-2019				12,954				21				12,975
Itau-Corpbanca			Fixed term				US$				3.06	%			12-11-2018				01-11-2019				1,300				2				1,302
Banco Estado			Fixed term				US$				2.75	%			12-12-2018				01-15-2019				1,000				1				1,001
Itau-Corpbanca			Fixed term				Ch$				2.50	%			12-14-2018				01-09-2019				14,392				20				14,412
Scotiabank			Fixed term				Ch$				2.65	%			12-17-2018				01-17-2019				14,393				18				14,411
Scotiabank			Fixed term				Ch$				2.60	%			12-17-2018				01-17-2019				10,892				13				10,905
Banco Crédito e Inversiones			Fixed term				US$				2.93	%			12-17-2018				01-31-2019				1,400				2				1,402
Itau-Corpbanca			Fixed term				US$				3.30	%			12-17-2018				01-31-2019				1,400				2				1,402
Itau-Corpbanca			Fixed term				US$				3.40	%			12-17-2018				01-31-2019				3,000				4				3,004
Banco de Chile			Fixed term				US$				3.06	%			12-17-2018				01-31-2019				1,700				2				1,702
Scotiabank Sud Americano			Fixed term				US$				2.95	%			12-17-2018				01-31-2019				1,500				2				1,502
Banco de Chile			Fixed term				US$				3.26	%			12-19-2018				01-31-2019				800				1				801
Banco Crédito e Inversiones			Fixed term				US$				3.42	%			12-26-2018				02-26-2019				2,800				1				2,801
Banco de Chile			Fixed term				US$				3.26	%			12-26-2018				02-26-2019				2,800				1				2,801
Scotiabank Sud Americano (*)			Fixed term				Ch$				0.26	%			12-27-2018				01-07-2019				1,439				1				1,440
Scotiabank Sud Americano (*)			Fixed term				Ch$				0.26	%			12-27-2018				01-14-2019				2,879				1				2,880
Scotiabank Sud Americano (*)			Fixed term				Ch$				0.26	%			12-27-2018				01-21-2019				1,439				1				1,440
Banco Estado			Fixed term				US$				3.15	%			12-28-2018				01-28-2019				2,000				1				2,001
Banco Estado			Fixed term				US$				3.15	%			12-28-2018				01-28-2019				600				-				600
Banco de Chile			Fixed term				US$				3.16	%			12-28-2018				01-28-2019				2,000				1				2,001
Banco Crédito e Inversiones			Fixed term				US$				2.53	%			12-28-2018				01-08-2019				1,000				-				1,000
Banco Crédito e Inversiones			Fixed term				US$				3.08	%			12-28-2018				01-28-2019				2,500				1				2,501
Banco Santander- Santiago (*)			Fixed term				Ch$				0.20	%			12-28-2018				01-04-2019				432				-				432
BBVA Banco Francés			Fixed term				US$				-				12-31-2018				01-21-2019				81				3				84
Nedbank			On demand				US$				-				12-31-2018				01-01-2019				647				-				647
Total																							187,234				432				187,666

(*) Corresponds to a monthly rate.

10.6        Net Debt reconciliation

This section sets out an analysis of net debt and the movements in net debt for each of the periods presented. The definition of net debt is disclosed in Note 19.1.

Net debt		As of December ‎31, 2019				As of December ‎31, 2018
		ThUS$				ThUS$
Cash and cash equivalents			588,530				556,066
Other current financial assets			505,490				312,721
Other non-current financial hedge assets			3,918				13,425
Other current financial liabilities			(298,822	)			(23,585	)
Other non-current financial liabilities			(1,518,926	)			(1,330,382	)
Total			(719,810	)			(471,755	)

						Adjustment to				Monetary												Non-monetary
						initial balances																Hedging and
		As of December				by adoption of				Amounts from				Amounts from				Other cash				non-hedging				Exchange rate								As of December
Cash and cash equivalents		31, 2018				IFRS 16				loans				interest				income/expenses				instruments				differences				Other				31, 2019
		ThUS$				ThUS$				ThUS$				ThUS$				ThUS$				ThUS$				ThUS$				ThUS$				ThUS$
Obligations with the public and bank loans			(1,333,793	)			-				(442,465	)			65,754				6,816				-				20,839				(70,179	)			(1,753,028	)
Current and non-current lease liabilities			-				(45,115	)			7,221				1,537				-				-				-				(1,540	)			(37,897	)
Financial instruments derived from hedging			(17,318	)			-				(439	)			5,209				-				(12,014	)			-				907				(23,655	)
Financial instruments derived from non-hedging			(2,856	)			-				-				-				-				(313	)			-				-				(3,169	)
Subtotal			(1,353,967	)			(45,115	)			(435,683	)			72,500				6,816				(12,327	)			20,839				(70,812	)			(1,817,749	)
Cash and cash equivalents			556,066				-				-				-				47,396				-				(14,932	)			-				588,530
Deposits that do not qualify as cash and cash equivalents			291,790				-				-				(25,809	)			224,499				-				(31,080	)			26,289				485,689
Derivatives from hedge assets			31,663				-				-				-				(34,434	)			23,034				-				925				21,188
Derivatives from other financial non-hedge assets			2,693				-				-				-				(1,403	)			1,242				-				-				2,532
Total			(471,755	)			(45,115	)			(435,683	)			46,691				242,874				11,949				(25,173	)			(43,598	)			(719,810	)

X

- Definition

The disclosure of cash and cash equivalents. [Refer: Cash and cash equivalents]

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Name IAS
-Number 1
-IssueDate 2019-01-01
-Paragraph 10
-Subparagraph e
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2019-en-r&anchor=para_10_e&doctype=Standard
-URIDate 2019-03-27

+ Details

Name:	ifrs-full_DisclosureOfCashAndCashEquivalentsExplanatory
Namespace Prefix:	ifrs-full_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	sqm_DisclosureofcashandcashequivalentsexplanatoryAbstract
Namespace Prefix:	sqm_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration