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Financial instruments

12 Months Ended

Dec. 31, 2020

Disclosure Of Financials instruments [Abstract]

Disclosure of financial instruments [text block]

Note 13

Financial instruments

13.1

Types of other current and non-current financial assets

Description of other financial assets	As of December 31, 2020		As of December 31, 2019
	ThUS$		ThUS$
Financial assets at amortized cost (1)		345,459		485,689
Derivative financial instruments
- For hedging		-		17,270
- Non-hedging (2)		2,610		2,531
Total other current financial assets		348,069		505,490
Financial assets at fair value through other comprehensive income		14,569		4,785
Derivative financial instruments
- For hedging		37,276		3,918
Other financial assets at amortized cost		80		75
Total other non-current financial assets		51,925		8,778

Institution	As of December 31, 2020		As of December 31, 2019
	ThUS$		ThUS$
Banco de Crédito e Inversiones		185,589		185,400
Banco Santander (3)		45,168		74,365
Banco Itau Corpbanca		49,006		120,628
Banco Security		-		17,964
Banco de Chile		-		18,026
Banco Estado		-		15,126
Scotiabank Sud Americano		31,668		54,180
JP Morgan Asset Management		34,028		-
Total		345,459		485,689

(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 13.3).

(3)

As of December 31, 2020, there were no margin calls and as of December 31, 2019, this value was ThUS$ 1,870.

13.2

Trade and other receivables

	As of December 31, 2020						As of December 31, 2019
Trade and other receivables	Current		Non-current		Total		Current		Non-current		Total
	ThUS$		ThUS$		ThUS$		ThUS$		ThUS$		ThUS$
Trade receivables, current		313,265		-		313,265		367,583		-		367,583
Prepayments, current		19,900		-		19,900		20,309		-		20,309
Other receivables, current		32,041		11,165		43,206		11,250		1,710		12,960
Total trade and other receivables		365,206		11,165		376,371		399,142		1,710		400,852

See discussion about credit risk in Note 5.2.

	As of December 31, 2020							As of December 31, 2019
Trade and other receivables	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		327,586		(14,321	)		313,265		383,775		(16,192	)		367,583
Trade receivables, current		327,586		(14,321	)		313,265		383,775		(16,192	)		367,583
Prepayments, current		20,684		(784	)		19,900		21,092		(783	)		20,309
Other receivables, current		36,664		(4,623	)		32,041		15,659		(4,409	)		11,250
Current trade and other receivables		57,348		(5,407	)		51,941		36,751		(5,192	)		31,559
Other receivables, non-current		11,165		-			11,165		1,710		-			1,710
Non-current receivables		11,165		-			11,165		1,710		-			1,710
Total trade and other receivables		396,099		(19,728	)		376,371		422,236		(21,384	)		400,852

(a)

Portfolio analysis

As of December 31, 2020, and December 31, 2019 the detail of the renegotiated portfolio is as follows:

As of December 31, 2020
Portfolio analysis
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		1,281		301,939		23		179
1 - 30 days		119		12,140		8		60
31 - 60 days		12		1,226		-		-
61 - 90 days		5		159		-		-
91 - 120 days		5		1,448		1		41
121 - 150 days		2		2,384		2		2
151 - 180 days		3		1,398		4		12
181 - 210 days		1		-		2		5
211 - 250 days		3		2		6		114
>250 days		156		5,030		64		1,447
Total		1,587		325,726		110		1,860

As of December 31, 2019
Portfolio analysis
Past due segments	Number of customers non- renegotiated portfolio		Gross non-renegotiated portfolio ThUS$		Number of customers renegotiated portfolio		Gross renegotiated portfolio ThUS$
Current		1,486		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

(b)

Estimate for doubtful accounts

As of December 31, 2020
	Trade accounts receivable days past due
Trade and other receivables	Current			1 to 30 days			31 to 60 days			61 to 90 days			Over 90 days			Trade		Trade receivables due from related parties
																ThUS$		ThUS$
Expected Loss Rate on		1	%		10	%		39	%		52	%		79	%		-		-
Total Gross Book Value		302,118			12,200			1,226			159			11,883			327,586		70,145
Deterioration Estimate		3,187			1,207			477			83			9,367			14,321		7,545

As of December 31, 2019
	Trade accounts receivable days past due
Trade and other receivables	Current			1 to 30 days			31 to 60 days			61 to 90 days			Over 90 days			Trade		Trade receivables due from related parties
																ThUS$		ThUS$
Expected Loss Rate on		1	%		18	%		34	%		44	%		78	%		-		-
Total Gross Book Value		352,823			20,721			1,288			573			8,370			383,775		72,550
Deterioration Estimate		5,285			3,664			440			251			6,552			16,192		11,323

As of December 31, 2020, and December 31, 2019, movements in provisions are as follows:

Provisions	As of December 31, 2020			As of December 31, 2019
	ThUS$			ThUS$
Provision Impairment Accounts receivable at the beginning of the Period		32,707			32,634
(Decrease) increase impairment of accounts receivable		(4,684	)		1,057
Use of Provision Applied to Accounts Receivable		(750	)		(984	)
Impairment of Accounts Receivable Provision at the end of the Period		27,273			32,707
(1) Trade and Other Receivables Provision		14,321			16,192
(2) Current other Receivables Provision		5,407			5,192
(3) Provision Trade payables due to related parties, current		7,545			11,323
Recovery of Insurance		347			320

Impairment of Accounts Receivable Provision		27,273			32,707
Renegotiated Provision		1,728			1,905
Non-renegotiated Provision		25,545			30,802

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, 2020, the notional amount of cash flows agreed upon in US dollars of the cross-currency swap contracts amounted to ThUS$ 565,295 (As of December 31, 2019 amounted to ThUS$ 435,167).

Expressed in ThUS$	Assets / (Liabilities) Derivative Instrument			Total Realized			Hedging Reserve in Gross Equity

Hedging with debt as underlying as of December 31, 2020
Hedging Assets		37,276			24,428			12,848
Hedging Liabilities		(19,195	)		(12,956	)		(6,239	)
Underlying Debt Hedge		18,081			11,472			6,609
Underlying Investment Coverage as of December 31, 2020
Hedging Assets		-			-			-
Hedging Liabilities		(21,004	)		(20,626	)		(378	)
Underlying Investments Hedge		(21,004	)		(20,626	)		(378	)

Expressed in ThUS$	Assets / (Liabilities) Derivative Instrument			Total Realized			Hedging Reserve in Gross Equity

Hedging with debt as underlying as of December 31, 2019
Hedging Assets		3,918			(4,194	)		8,112
Hedging Liabilities		(22,771	)		(25,363	)		2,592
Underlying Debt Hedge		(18,853	)		(29,557	)		10,704
Underlying Investment Coverage as of December 31, 2019
Hedging Assets		17,270			17,857			(587	)
Hedging Liabilities		(889	)		(711	)		(178	)
Underlying Investments Hedge		16,381			17,146			(765	)

Hedging Effect in Profit and Equity for the period as of December 31, 2020	Variation Total			Result			Hedge Reserve Variation

Analysis Effect by Type of Coverage
Underlying Debt Hedge		36,935			41,029			(4,094	)
Underlying Investments Hedge		(37,385	)		(37,772	)		387
Total hedging effect on profit or loss and equity in the period		(450	)		3,257			(3,707	)
Analysis Effect by type of asset
Hedging in Current and Non-Current Assets		16,088			10,765			5,323
Hedging in Current and Non-Current Liabilities		(16,538	)		(7,508	)		(9,030	)
Total Hedge Effect in Profit or Loss and Equity for the period		(450	)		3,257			(3,707	)

The balances in the “total realized” column consider the intermediate effects of the contracts in force from January 1 to December 31, 2020 and from January 1 to December 31, 2019.

Derivative contract maturities are detailed as follows:

Series	Contract amount		Currency	Maturity date
	ThUS$
H		134,049	UF	01/04/2023
O		58,748	UF	02/01/2022
P		134,228	UF	01/15/2028
Q		106,933	UF	06/01/2030

Effectiveness

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 and inflation 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 Pesos and UF. Likewise, hedging contracts are denominated in the same currencies and have the same maturity dates of bond principal and interest payments.

Effectiveness tests have verified that hedges are effective as of the reporting date.

13.4

Financial liabilities

Other current and non-current financial liabilities

As of December 31, 2020, and December 31, 2019, the detail is as follows:

	As of December 31, 2020						As of December 31, 2019
Other current and non-current financial liabilities	Currents		Non-Current		Total		Currents		Non-Current		Total
	ThUS$		ThUS$		ThUS$		ThUS$		ThUS$		ThUS$
Liabilities at amortized cost
Bank borrowings		82		69,376		69,458		199		69,138		69,337
Obligations with the public		36,781		1,816,626		1,853,407		280,578		1,403,108		1,683,686
Derivative financial instruments
For hedging		26,699		13,511		40,210		7,183		16,477		23,660
Non-Hedging		5,393		-		5,393		3,168		-		3,168
Total		68,955		1,899,513		1,968,468		291,128		1,488,723		1,779,851

Current and non-current bank borrowings

As of December 31, 2020, and 2019, the detail is as follows:

Current and non-current bank borrowings	As of December 31, 2020		As of December 31, 2019
	ThUS$		ThUS$
Current loans		82		199
Non-current loans		69,376		69,138
Current and non-current loans		69,458		69,337

Bank borrowings, current:

As of December 31, 2020, and December 31, 2019, the detail of this caption is as follows:

Debtor

Creditor

Tax ID No.

Company

Country

Tax ID No.

Financial
institution

Country

Currency or
adjustment index

Payment of
interest

Repayment

Effective rate

Nominal rate

93.007.000-9

SQM S.A.

Chile

O-E

Scotiabank Cayman

USA

USD

Upon maturity

05/30/2023

1.00%

1.36%

Debtor

Creditor

Nominal amounts as of December 31, 2020

Current amounts as of December 31, 2020

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$

SQM S.A.

Scotiabank Cayman

Total

Debtor

Creditor

Currency or

Tax ID No

Company

Country

Tax ID
No

Financial institution

Country

adjustment
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

Unsecured obligations, current:

As of December 31, 2020, and December 31, 2019, the detail of current unsecured interest-bearing obligations is composed of promissory notes and bonds, as follows:

Debtor

Number of

Currency or

Periodicity

Tax ID No.

Company

Country

registration or ID
of the instrument

Series

Maturity date

adjustment
index

Payment of
interest

Repayment

Effective rate

Nominal rate

93.007.000-9

SQM S.A.

Chile

MUS$250

01/28/2021

US$

Semiannual

Upon maturity

1.95%

4.38%

93.007.000-9

SQM S.A.

Chile

MUS$300

04/03/2021

US$

Semiannual

Upon maturity

1.08%

3.63%

93.007.000-9

SQM S.A.

Chile

MUS$450

05/07/2021

US$

Semiannual

Upon maturity

3.59%

4.25%

93.007.000-9

SQM S.A.

Chile

MUS$400

01/22/2021

US$

Semiannual

Upon maturity

4.17%

4.25%

93.007.000-9

SQM S.A.

Chile

564

01/05/2021

Semiannual

0.58%

4.90%

93.007.000-9

SQM S.A.

Chile

699

02/01/2021

Semiannual

Upon maturity

2.24%

3.80%

93.007.000-9

SQM S.A.

Chile

563

01/15/2021

Semiannual

Upon maturity

2.37%

3.25%

93.007.000-9

SQM S.A.

Chile

700

06/01/2021

Semiannual

Upon maturity

2.92%

3.45%

Effective rates of bonds in Pesos and UF are expressed and calculated in Dollars based on the flows agreed in Cross Currency Swap Agreements.

			Nominal amounts as of December 31, 2020						Carrying amounts of maturities as of December 31, 2020
Company	Country	Series	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.	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		7,508		-		7,508		7,508		-		7,508		(679	)		6,829
SQM S.A.	Chile	MUS$400		-		2,869		2,869		-		2,869		2,869		(237	)		2,632
SQM S.A.	Chile	H		18,212		-		18,212		18,212		-		18,212		(172	)		18,040
SQM S.A.	Chile	O		962		-		962		962		-		962		(82	)		880
SQM S.A.	Chile	P		1,824		-		1,824		1,824		-		1,824		(12	)		1,812
SQM S.A.	Chile	Q		-		350		350		-		350		350		(21	)		329
Total				33,154		5,877		39,031		33,154		5,877		39,031		(2,250	)		36,781

Debtor

Number of

Currency or

Periodicity

Tax I No.

Company

Country

registration or ID
of the instrument

Series

Maturity date

adjustment
index

Payment of
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

01/05/2020

Semiannual

1.36

4.90

93.007.000-9

SQM S.A.

Chile

699

02/01/2020

Semiannual

Upon maturity

2.41

3.80

93.007.000-9

SQM S.A.

Chile

563

01/15/2020

Semiannual

Upon maturity

2.71

3.25

93.007.000-9

SQM S.A.

Chile

700

06/01/2020

Semiannual

Upon maturity

3.11

3.45

			Nominal amounts as of December 31, 2019						Carrying amounts of maturities as of December 31, 2019
Company	Country	Series	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.	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 Pesos and UF are expressed and calculated in Dollars based on the flows agreed in Cross Currency Swap Agreements.

Classes of interest-bearing loans, non-current

The following table shows the details of bank loans as of December 31, 2020 and 2019:

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

1.98%

1.36%

Debtor	Creditor	Nominal non-current maturities as of December 31, 2020								Carrying amounts of maturities as of December 31, 2020
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		(624	)		69,376
Total			-		70,000		-		70,000		-		70,000		-		70,000		(624	)		69,376

Debtor

Creditor

Currency or

Tax ID No.

Company

Country

Tax ID No.

Financial institution

Country

adjustment index

Type of
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 maturities as of December 31, 2019								Carrying amounts of maturities as of December 31, 2019
Company	Financial institution	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		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

Non-current unsecured interest-bearing bonds

The following table shows the details of “unsecured debentures that accrue non-current interest” as of December 31, 2020, and 2019:

Debtor

Number of

Currency or

Periodicity

Tax ID No.

Company

Country

registration or ID
of the instrument

Series

Maturity date

adjustment
index

Payment of
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

4.18%

4.25%

93.007.000-9

SQM S.A.

Chile

MUS$400

01/22/2050

US$

Semiannual

Upon maturity

4.22%

4.25%

93.007.000-9

SQM S.A.

Chile

564

01/05/2030

Semiannual

4.76%

4.90%

93.007.000-9

SQM S.A.

Chile

699

02/01/2033

Semiannual

Upon maturity

3.68%

3.80%

93.007.000-9

SQM S.A.

Chile

563

01/15/2028

Semiannual

Upon maturity

3.24%

3.25%

93.007.000-9

SQM S.A.

Chile

700

06/01/2038

Semiannual

Upon maturity

3.43%

3.45%

	Nominal non-current maturities as of December 31, 2020												Carrying amounts of maturities as of December 31, 2020
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		(1,336	)		248,664
MUS$300		-		300,000		-		-		-		300,000		-		300,000		-		-		-		300,000		(781	)		299,219
MUS$450		-		-		-		-		450,000		450,000		-		-		-		-		450,000		450,000		(5,020	)		444,980
MUS$400		-		-		-		-		400,000		400,000		-		-		-		-		400,000		400,000		(6,582	)		393,418
H		-		-		-		-		126,386		126,386		-		-		-		-		126,386		126,386		(1,378	)		125,008
O		-		-		-		-		61,334		61,334		-		-		-		-		61,334		61,334		(904	)		60,430
P		-		-		-		-		122,668		122,668		-		-		-		-		122,668		122,668		(77	)		122,591
Q		-		-		-		-		122,668		122,668		-		-		-		-		122,668		122,668		(352	)		122,316
Total		-		300,000		-		250,000		1,283,056		1,833,056		-		300,000		-		250,000		1,283,056		1,833,056		(16,430	)		1,816,626

Debtor

Number of

Currency or

Periodicity

Tax ID No.

Company

Country

registration or ID of the instrument

Series

Maturity date

adjustment index

Payment of 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

01/05/2030

Semiannual

4.78%

4.90%

93.007.000-9

SQM S.A.

Chile

699

02/01/2033

Semiannual

Upon maturity

3.70%

5.50%

93.007.000-9

SQM S.A.

Chile

563

01/15/2028

Semiannual

Upon maturity

3.24%

3.25%

93.007.000-9

SQM S.A.

Chile

700

06/01/2038

Semiannual

Upon maturity

3.45%

	Nominal non-current maturities as of December 31, 2019												Carrying amounts of maturities 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

Additional information

Bonds

As of December 31, 2020 and December 31, 2019, the details of each issuance are as follows:

(i)

Series “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 July, 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.

On January 5, 2020, amortization of principal amounted to UF 181,818.18. (ThUS$ 6,787) with an associated cross currency swap hedge loss of ThUS$ 268.

On July 5, 2020, amortization of principal amounted to UF 181,818.18. (ThUS$ 6,509) with an associated cross currency swap hedge loss of ThUS$ 546.

See more details in Note 20.1

For the periods ended December 31, 2020, and December 31, 2019, the Company has made the following payments with a charge to the Series H bonds and their associated CCS hedging:

Payments made	December 31, 2020		December 31, 2019		December 31, 2018
	ThUS$		ThUS$		ThUS$
Payments of interest, Series H bonds		6,601		7,868		8,325
CCS Coverage		2,575		1,952		495

(ii)

Single series bonds, second issue MUS$ 250

On April 21, 2010, the Company informed the CMF of its placement in international markets of an unsecured bond of ThUS$ 250,000, pursuant to Rule 144 -A and Regulation S of the Securities and Exchange Commission with a maturity of 10 years with an annual interest rate of 5.5%.

The Company paid the principal on April 21, 2020.

As of December 31, 2020 and December 31, 2019, the detail of payments charged to the line of single series bonds, second issue is as follows

Payments made

December 31,

2020

December 31,

2019

December 31,

2018

ThUS$

Interest payment

6,875

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 an annual interest rate of 3.80%.

See more details in Note 20.1

For the periods ended December 31, 2020, and December 31, 2019, the Company has made the following payments with a charge to Series O bonds and their associated CCS hedging

Payments made	December 31, 2020		December 31, 2019		December 31, 2018
	ThUS$		ThUS$		ThUS$
Payment of interest, Series O bonds		2,070		2,308		2,457
CCS Coverage		599		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. pursuant to Rule 144-A and Regulation S of the SEC. The bond is for a 10-year term with an annual coupon rate of 3.625%.

For the periods ended 31, 2020, and December 31, 2019, the following payments have been made with a debit to the line of single-series bonds, third issue:

Payments made

December 31,

2020

December 31,

2019

December 31,

2018

ThUS$

Payment of interest

10,875

(v)

Single series bonds, fourth issuance MUS $250

On October 23, 2014, the Company issued unsecured bonds amounting ThUS$ 250,000 in international markets, pursuant to Rule 144-A and Regulation S of the SEC. These bonds mature in 2025 and have annual interest rate of 4.375%.

For the periods ended on December 31, 2020 and December 31, 2019, the following payments have been made.

Payments made

December 31,

2020

December 31,

2019

December 31,

2018

ThUS$

Payment of interest

10,938

(vi)

Series “P” bonds

The Company on March 31, 2018 issued the placement on the stock market of the Series “P” bond (the "Bonds” Series P) 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 periods ended on December 31, 2020 and December 31, 2019, the following payments and their associated CCS have been made:

Payments made	December 31, 2020		December 31, 2019		December 31, 2018
	ThUS$		ThUS$		ThUS$
Payment of interest series P		3,534		3,960		1,085
CCS Coverage		3,439		2,995		1,421

(vii)

Series Q bonds

On October 31, 2018, the issuance of Series Q bonds 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 Unidades de Fomento, 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.

See more details in Note 20.1

For the years ended December 31, 2020 and December 31, 2019, the following payments have been made:

Payments made	December 31, 2020		December 31, 2019		December 31, 2018
	ThUS$		ThUS$		ThUS$
Payment of interest series Q		3,769		3,791		319
CCS Coverage		1,021		-		-

(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 pursuant to Rule 144-A and Regulation S of the Securities and Exchange Commission on international markets. These bonds will mature in 2029 and carry an interest rate of 4.25% per annum.

For the periods ended on December 31, 2020 and December 31, 2019, the following payments have been made:

Payments made

December 31,

2020

December 31,

2019

December 31,

2018

ThUS$

Payment of interest

19,125

9,563

(ix)

Single series sixth issue bonds MUS$ 400

On January 22, 2020, the Company has placed unsecured bonds in international markets for US$ 400 million, pursuant to Rule 144-A and Regulation S of the Securities and Exchange Commission, at an annual interest rate of 4.250% and a maturity in the year 2050.

Payments made

December 31,

2020

December 31,

2019

December 31,

2018

ThUS$

Payment of interest

8,500

13.5	Trade and other payables

Details trade and other payables

	As of December 31, 2020						As of December 31, 2019
Details trade and other payables	Current		Non-current		Total		Current		Non-current		Total
	ThUS$		ThUS$		ThUS$		ThUS$		ThUS$		ThUS$
Accounts payable		203,346		-		203,346		205,414		-		205,414
Other accounts payable		587		-		587		376		-		376
Prepayments from customers		-		4,027		4,027		-		-		-
Total		203,933		4,027		207,960		205,790		-		205,790

As of December 31, 2020, and December 31, 2019, the balance of current and past due accounts payable is made up as follows:

Suppliers current on all payments

	Amounts according to payment periods as of December 31, 2020
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		111,323		1,947		123		31		5		4,027		117,456
Services		46,187		1,380		16		757		86		-		48,426
Others		29,325		7		-		-		-		-		29,332
Total		186,835		3,334		139		788		91		4,027		195,214

	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

Suppliers past due on payments

	Amounts according to payment periods as of December 31, 2020
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		1,305		59		47		39		517		-		1,967
Services		2,298		764		-		453		505		-		4,020
Others		3,258		150		371		118		2,275		-		6,172
Total		6,861		973		418		610		3,297		-		12,159

	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

Purchase commitments held by the Company are recognized as liabilities when the goods and services are received by the Company. As of December 31, 2020, the Company has purchase orders amounting to ThUS$ 55,516 and ThUS$ 89,391 as of December 31, 2019.

13.6

Financial asset and liability categories

Financial Assets

	As of December 31, 2020						As of December 31, 2019
Description of financial assets	Current		Non-current		Total		Current		Non-current		Total
	ThUS$		ThUS$		ThUS$		ThUS$		ThUS$		ThUS$
Cash and cash equivalent		509,102		-		509,102		588,530		-		588,530
Trade receivables due from related parties at amortized cost		62,601		-		62,601		61,227		-		61,227
Financial assets measured at amortized cost		345,459		80		345,539		485,689		75		485,764
Loans and receivables measured at amortized cost		365,206		11,165		376,371		399,142		1,710		400,852
Total financial assets measured at amortized cost		1,282,368		11,245		1,293,613		1,534,588		1,785		1,536,373
Financial instruments for hedging purposes through equity		-		37,276		37,276		17,270		3,918		21,188
Financial instruments held for trading at through profit or loss		2,610		-		2,610		2,531		-		2,531
Financial assets classified as available for sale at fair value through equity		-		14,569		14,569		-		4,785		4,785
Total financial assets at fair value		2,610		51,845		54,455		19,801		8,703		28,504
Total financial assets		1,284,978		63,090		1,348,068		1,554,389		10,488		1,564,877

Financial Liabilities

	As of December 31, 2020						As of December 31, 2019
Description of financial liabilities	Current		Non-current		Total		Current		Non-current		Total
	ThUS$		ThUS$		ThUS$		ThUS$		ThUS$		ThUS$
For hedging purposes through equity		26,699		13,511		40,210		7,183		16,477		23,660
Held for trading at fair value through profit or loss		5,393		-		5,393		3,168		-		3,168
Financial liabilities at fair value through profit or loss		32,092		13,511		45,603		10,351		16,477		26,828
Bank loans		82		69,376		69,458		199		69,138		69,337
Obligations to the public		36,781		1,816,626		1,853,407		280,578		1,403,108		1,683,686
Lease Liabilities		5,528		25,546		31,074		7,694		30,203		37,897
Trade and other payables		203,933		4,027		207,960		205,790		-		205,790
Trade payables due to related parties		606		-		606		475		-		475
Total financial liabilities at amortized cost		246,930		1,915,575		2,162,505		494,736		1,502,449		1,997,185
Total financial liabilities		279,022		1,929,086		2,208,108		505,087		1,518,926		2,024,013

13.7	Fair value measurement of finance assets and liabilities

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:

inputs for the asset or liability that are not based on observable market data.

	As of December 31, 2020						Measurement Methodology
Fair value measurement of assets and liabilities	Carrying Amount at Amortized Cost		Fair value (informative)		Book Value Fair value		Level 1		Level 2		Level 3
	ThUS$		ThUS$		ThUS$		ThUS$		ThUS$		ThUS$
Financial Assets
Cash and cash equivalents		509,102		509,102		-		-		509,102		-
Other current financial assets
- Time deposits		345,459		345,459		-		-		345,459		-
- Derivative financial instruments
- Forwards		-		-		2,263		-		2,263		-
- Options		-		-		347		-		347		-
Non-current accounts receivable		11,165		11,165		-		-		-		-
Other non-current financial assets:
- Other		99		99		-		-		99		-
- Actions		-		-		14,549		14,549		-		-
- Hedging assets – Swaps		-		-		37,276		-		37,276		-
Other current financial liabilities
- Bank loans		82		82		-		-		82		-
- Derivative instruments		-		-		-		-		-		-
- Forwards		-		-		4,614		-		4,614		-
- Options		-		-		780		-		780		-
-Hedging liabilities - Swaps		-		-		5,695		-		5,695		-
-Inversions -Swaps		-		-		21,004		-		21,004		-
- Unsecured obligations		36,781		36,781		-		-		36,781		-
- Current lease liabilities		5,528		5,528		-		-		5,528		-
Other non-current financial liabilities
- Bank loans		69,376		71,029		-		-		71,029		-
- Unsecured obligations		1,816,626		2,355,943		-		-		2,355,943		-
- Non-current hedging liabilities		-		-		13,511		-		13,511		-
- Non-current lease liabilities		25,546		26,027		-		-		26,027		-

	As of December 31, 2019						Measurement methodology
Fair value measurement of assets and liabilities	Carrying Amount at Amortized Cost		Fair value (informative)		Book Value 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 financial instruments		-		-		-		-		-		-
- Forwards		-				2,420		-		2,420		-
- Options		-		-		111		-		111		-
-Investment hedge swaps		-		-		17,270		-		17,270		-
Non-current accounts receivable		1,710		1,710		-		-		-		-
Other non-current financial assets
- Other		94		94		-		-		94		-
- Actions		-		-		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		-
- Options		-		-		289		-		289		-
- Hedging liabilities – Swaps		-		-		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		-

13.8

Estimated fair value of financial instruments

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:

Estimate of fair value for the record

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 fair 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 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. Financial 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, Dollar 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 reserve in the statement of comprehensive income, depending on each particular case.

Estimate of fair value for reporting purposes

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.

Payables, current lease liabilities and other current financial liabilities are considered fair value equal to book value due to the short-term maturity of these accounts.

The fair value of the debt (long-term secured and unsecured debentures; bonds denominated in local currency (Peso/UF) and foreign currency (Dollar), loans denominated in foreign currency (Dollar) and lease liabilities of the Company are calculated at current value of cash flows subtracted from market rates upon valuation, considering the terms of maturity and exchange rates. The UF and Peso rate curves are used as inputs for the valuation model. This information is obtained through from the renowned financial software company, Bloomberg, and the Chilean Association of Banks and Financial Institutions.