Gains (losses) from operating activities in the statement of income, included according to their nature

12 Months Ended

Dec. 31, 2019

Disclosure Of Profit Loss From Operating Activities Explanatory [Abstract]

Disclosure Of Profit Loss From Operating Activities Explanatory [Text Block]

Note 24

Gains (losses) from operating activities in the statement of income, included according to their nature

24.1

Revenue from operating activities

The Group generates revenues from the sale of goods (which are recognized at one point in time) and from the provision of services (which are recognized over time) and are distributed among the following geographical areas and main product and service lines.

(a)

Geographic areas:

For the year ended December 31, 2019
Geographic areas	Specialty plant ‎ nutrition		Iodine and ‎ derivatives		Lithium and ‎ derivatives		Potassium		Industrial ‎ chemicals		Other		Total ThUS$
Chile		109,975		1,064		599		27,371		39,512		33,336		211,857
Latin America and the Caribbean		78,872		7,972		3,593		64,868		6,354		269		161,928
Europe		149,992		123,525		76,250		27,973		15,289		735		393,764
North America		243,399		90,070		45,810		43,312		27,798		883		451,272
Asia and others		141,682		148,389		379,462		48,627		5,922		752		724,834
Total		723,920		371,020		505,714		212,151		94,875		35,975		1,943,655

For the year ended December 31, 2018
Geographic areas	Specialty plant ‎ nutrition		Iodine and ‎ derivatives		Lithium and ‎ derivatives		Potassium		Industrial ‎ chemicals		Other		Total ThUS$
Chile		111,595		1,052		700		25,593		4,575		45,834		189,349
Latin America and the Caribbean		77,737		6,389		3,598		80,192		12,098		177		180,191
Europe		200,229		112,080		103,430		46,068		17,384		473		479,664
North America		240,995		83,587		68,254		50,685		27,347		647		471,515
Asia and others		151,195		121,864		558,819		64,936		46,863		1,407		945,084
Total		781,751		324,972		734,801		267,474		108,267		48,538		2,265,803

For the year ended December 31, 2017
Geographic areas	Specialty plant ‎ nutrition		Iodine and ‎ derivatives		Lithium and ‎ derivatives		Potassium		Industrial ‎ chemicals		Other		Total ThUS$
Chile		91,243		1,054		802		20,001		2,522		45,942		161,564
Latin America and the Caribbean		71,335		5,756		3,109		142,610		9,180		155		232,145
Europe		177,997		81,557		88,443		72,405		28,346		305		449,053
North America		235,963		67,491		42,918		69,105		25,824		553		441,854
Asia and others		120,713		96,265		509,301		75,205		69,706		1,517		872,707
Total		697,251		252,123		644,573		379,326		135,578		48,472		2,157,323

(b)

Main product and service lines:

	For the period from January to December of the year
Products and Services	2019		2018		2017
	ThUS$		ThUS$		ThUS$
Specialty plant nutrition		723,920		781,751		697,251
- Sodium Nitrates		20,679		17,688		18,555
- Potassium nitrate and sodium potassium nitrate		457,477		527,945		474,451
- Specialty Blends		153,739		145,511		121,263
- Other specialty fertilizers		92,025		90,607		82,982
Iodine and derivatives		371,020		324,972		252,123
Lithium and derivatives		505,714		734,801		644,573
Potassium		212,151		267,474		379,326
Industrial chemicals		94,875		108,267		135,578
Other		35,975		48,538		48,472
- Services		3,410		4,017		3,795
- Income from leasing properties		1,438		1,474		71
- Income from subleases on right-of-use assets		261		-		-
- Commodities		16,176		18,581		11,822
- Other ordinary income from Commercial Offices		14,690		24,466		32,784
Total		1,943,655		2,265,803		2,157,323

24.2

Cost of sales

Cost of sales broken down by nature of expense

	For the period from January to December of the year
Cost of sales	2019			2018			2017
	ThUS$			ThUS$			ThUS$
Raw materials and consumables used		(271,912	)		(260,869	)		(227,617	)
Classes of employee benefit expenses		(178,493	)		(203,571	)		(172,158	)
Depreciation expense		(188,157	)		(212,641	)		(232,365	)
Depreciation of Right-of-use Assets (contracts under IFRS 16)		(5,450	)		-			-
Amortization expense		(5,102	)		(6,376	)		(7,490	)
Investment plan expenses		(18,367	)		(11,860	)		(14,796	)
Provision for site closure		(911	)		(2,045	)		(2,960	)
Provision for materials, spare parts and supplies		(7,500	)		1,721			1,746
Contractors		(123,096	)		(120,923	)		(118,610	)
Operating leases		(47,007	)		(37,245	)		(36,333	)
Mining concessions		(7,856	)		(8,168	)		(7,802	)
Operations transport		(56,376	)		(64,352	)		(69,051	)
Freight and product transport costs		(46,264	)		(51,387	)		(55,383	)
Purchase of products from third parties		(189,583	)		(182,695	)		(184,226	)
Insurance		(16,968	)		(11,923	)		(10,255	)
CORFO rights		(143,861	)		(182,954	)		(46,274	)
Export costs		(97,103	)		(107,418	)		(86,831	)
Expenses related to variable payment leases (contracts under IFRS 16)		(1,096	)		-			-
Variation in inventory		52,557			20,597			(76,009	)
Variation in inventory provision		17,107			(8,997	)		(14,989	)
Other expenses, by nature		(48,165	)		(34,525	)		(33,419	)
Total		(1,383,603	)		(1,485,631	)		(1,394,822	)

24.3

Other income

Other income	As of December ‎ 31, 2019		As of December ‎ 31, 2018		As of December ‎ 31, 2017
	ThUS$		ThUS$		ThUS$
Discounts obtained from suppliers		676		705		345
Fines charged to suppliers		483		698		199
Taxes recovered		457		996		1,278
Amounts recovered from insurance		492		443		154
Overestimate of provisions for third-party obligations		983		375		586
Other operating income		2,422		1,536		4,543
Options on mining claims		5,298		16,095		2,607
Easements, pipelines and roads		7,204		10,806		4,656
Reimbursement mining licenses and notary expenses		203		394		1,196
Shares obtained in junior mining companies through options		-		-		2,263
Total		18,218		32,048		17,827

24.4

Administrative expenses

Administrative expenses	As of December ‎ 31, 2019			As of December ‎ 31, 2018			As of December ‎ 31, 2017
	ThUS$			ThUS$			ThUS$
Remuneration and benefits to employees		(60,255	)		(63,880	)		(51,761	)
Marketing costs		(3,911	)		(3,078	)		(2,539	)
Amortization expenses		(5	)		(15	)		(8	)
Entertainment expenses		(5,783	)		(4,805	)		(4,781	)
Advisory services		(13,862	)		(12,848	)		(14,348	)
Leases		(3,653	)		(4,556	)		(4,097	)
Insurance		(2,553	)		(1,758	)		(1,767	)
Office expenses		(7,327	)		(8,165	)		(5,357	)
Contractors		(4,874	)		(5,730	)		(4,805	)
Depreciation of Right-of-use Assets (contracts under IFRS 16)		(2,501	)		-			-
Other expenses, by nature		(12,456	)		(13,291	)		(11,708	)
Total		(117,180	)		(118,126	)		(101,171	)

24.5

Other expenses by function

	For the period from January to December of the year
Other expenses by function	2019			2018			2017
	ThUS$			ThUS$			ThUS$
Depreciation and amortization expense
Depreciation of assets not in use		(136	)		(59	)		(90	)
Subtotal		(136	)		(59	)		(90	)
Impairment losses (reversals of impairment losses) recognized in profit (loss) for the year
Property, plant and equipment		(49	)		(1,390	)		-
Intangible assets other than goodwill		(913	)		(1,736	)		-
Goodwill		(140	)		(3,254	)		-
Non-current assets and disowned groups held for sale		(607	)		-			-
Subtotal		(1,709	)		(6,380	)		-
Other expenses, by nature
Legal expenses		(9,277	)		(15,139	)		(25,176	)
VAT and other unrecoverable taxes		(613	)		(1,187	)		(1,295	)
Fines paid		(145	)		(965	)		(1,112	)
Investment plan expenses		(1,694	)		(7,555	)		(10,006	)
Non-metallic exploration expenses		(5,537	)		(5,864	)		-
Donations		(5,026	)		(4,502	)		(5,527	)
Reorganization of related businesses		-			6,000			(6,000	)
Other operating expenses		(1,858	)		(1,256	)		(4,394	)
Subtotal		(24,150	)		(30,468	)		(53,510	)
Total		(25,995	)		(36,907	)		(53,600	)

24.6

Other gains (losses)

	For the period from January to December of the year
Other income (expenses)	2019			2018			2017
	ThUS$			ThUS$			ThUS$
Adjustment relating to previous year application of equity method to investments		(984	)		(664	)		500
Impairment of interests in joint ventures (1)		631			(8,802	)		-
Sales of investments in associates		-			(759	)		-
Sales of investments in joint ventures		-			14,507			-
Others		(30	)		2,122			43
Total		(383	)		6,404			543

24.7

Net impairment (losses)gains on reversal of financial assets

Net impairment (losses)of gains and on reversal of impairment financial assets ‎ losses	As of December 31, ‎ 2019			As of December 31, ‎ 2018		As of December 31, ‎ 2017
	ThUS$			ThUS$		ThUS$
(Impairment loss)/ gain on reversal of financial assets		(1,057	)		2,967		(8,038	)
Totals		(1,057	)		2,967		(8,038	)

The following summary corresponds to Notes 24.1, 24.4 and 24.5

24.8

Summary of expenses by nature

	For the period from January to December of the year
Expenses by nature	2019			2018			2017
	ThUS$			ThUS$			ThUS$
Raw materials and consumables		(271,912	)		(260,869	)		(227,617	)
Classes of Employee Benefit Expenses		(238,748	)		(267,451	)		(223,919	)
Depreciation and amortization expense
Depreciation expense		(188,293	)		(212,700	)		(232,455	)
Depreciation of Right-of-use Assets (IFRS 16)		(7,951	)		-			-
Property, plant and equipment		(49	)		(1,390	)		-
Goodwill		(140	)		(3,254	)		-
Non-current assets and disowned groups held for sale		(607	)		-			-
Amortization expense		(6,020	)		(8,127	)		(7,498	)
Legal expenses		(9,277	)		(15,139	)		(25,176	)
Investment plan expenses		(20,061	)		(19,415	)		(19,480	)
Non-metallic exploration expenses		(5,537	)		(5,864	)		(5,322	)
Provision for site closure		(911	)		(2,045	)		(2,960	)
Provision for materials, spare parts and supplies		(7,500	)		1,721			1,746
Contractors		(127,970	)		(126,653	)		(123,415	)
Leases		(50,660	)		(41,801	)		(40,430	)
Mining concessions		(7,856	)		(8,168	)		(7,802	)
Operation transport		(56,376	)		(64,352	)		(69,051	)
Freight and product transport costs		(46,264	)		(51,387	)		(55,383	)
Purchase of products from third parties		(189,583	)		(182,695	)		(184,226	)
CORFO rights		(143,861	)		(182,954	)		(46,274	)
Export costs		(97,103	)		(107,418	)		(86,831	)
Expenses related to Variable Parts Leases (IFRS 16)		(1,096	)		-			-
Insurance		(19,521	)		(13,681	)		(12,022	)
Restructuring of joint ventures.		-			6,000			(6,000	)
Consultant and advisor services		(13,862	)		(12,848	)		(14,348	)
Variation in inventory		52,557			20,597			(76,009	)
Variation in provision on product inventory		17,107			(8,997	)		(14,989	)
Other expenses, by nature		(85,284	)		(71,774	)		(70,133	)
Total		(1,526,778	)		(1,640,664	)		(1,549,594	)

24.9

Finance expenses

	For the period from January to December of the year
Financial costs	2019			2018			2017
	ThUS$			ThUS$			ThUS$
Interest expense from bank borrowings and overdrafts		(2,133	)		(1,707	)		(1,650	)
Interest expense from bonds		(72,983	)		(55,887	)		(49,373	)
Interest expense from loans		(2,682	)		(3,093	)		(2,002	)
Capitalized interest expenses		7,841			5,021			4,382
Financial expenses related to rehabilitation provisions		(4,417	)		(960	)		-
Lease interest		(1,535	)		-			-
Other finance costs		(1,030	)		(1,181	)		(1,481	)
Total		(76,939	)		(57,807	)		(50,124	)