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Financial instruments | 12 Months Ended
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Dec. 31, 2021
Disclosure Of Financials instruments [Abstract] |
Disclosure of financial instruments [text block] |
Note 12 | Financial instruments
| 12.1 | Types of other current and non-current financial assets
Description of other financial assets |  | As of December 31, 2021 |  |  | As of December 31, 2020 |
|  | ThUS$ |  |  | ThUS$ |
Financial assets at amortized cost (1) |  |  | 905,170 |  |  |  | 345,459 |
Derivative financial instruments |  |  |  |  |  |  |  |
- For hedging |  |  | 12,625 |  |  |  | - |
- Non-hedging (2) |  |  | 1,254 |  |  |  | 2,610 |
Total other current financial assets |  |  | 919,049 |  |  |  | 348,069 |
Financial assets at fair value through other comprehensive income (4) (5) |  |  | 8,932 |  |  |  | 14,569 |
Derivative financial instruments |  |  |  |  |  |  |  |
- For hedging |  |  | 245 |  |  |  | 37,276 |
Other financial assets at amortized cost |  |  | 91 |  |  |  | 80 |
Total other non-current financial assets |  |  | 9,268 |  |  |  | 51,925 |
Institution |  | As of December 31, 2021 |  |  | As of December 31, 2020 |
|  | ThUS$ |  |  | ThUS$ |
Banco de Crédito e Inversiones |  |  | 34,325 |  |  |  | 185,589 |
Banco Santander (3) |  |  | 65,899 |  |  |  | 45,168 |
Banco Itaú CorpBanca |  |  | 195,471 |  |  |  | 49,006 |
Banco de Chile |  |  | - |  |  |  | - |
Scotiabank Sud Americano |  |  | 289,421 |  |  |  | 31,668 |
Sumitomo Mitsui Banking |  |  | 320,054 |  |  |  | - |
JP Morgan Asset Management |  |  | - |  |  |  | 34,028 |
Total |  |  | 905,170 |  |  |  | 345,459 |
| (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 12.3).
| (3) | As of December 31, 2021, margin calls were recorded for US$ 31,430. As of December 31, 2020, no margin calls were recorded.
| (4) | During the first quarter of 2021, equity instruments classified at fair value irrevocably through other comprehensive income were sold for US$ 16,413. The cumulative amount of the movements in other comprehensive income from the date of acquisition to the date of sale was transferred to retained earnings.
| (5) | During the second quarter of 2021, as a result of the loss of significant influence over the investment of Kore Potash (for more details, see note 7.3 letter a), the investment, which was previous recognized as an investment in associates, was reclassified as other non-current financial assets as it was classified as financial equity instrument at fair value through other comprehensive income irrevocably.
| 12.2 | Trade and other receivables
|  | As of December 31, 2021 |  |  | As of December 31, 2020 |
Trade and other receivables |  | Current |  |  | Non-current |  |  | Total |  |  | Current |  |  | Non-current |  |  | Total |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Trade receivables, current |  |  | 590,312 |  |  |  | - |  |  |  | 590,312 |  |  |  | 313,265 |  |  |  | - |  |  |  | 313,265 |
Prepayments, current |  |  | 49,168 |  |  |  | - |  |  |  | 49,168 |  |  |  | 19,900 |  |  |  | - |  |  |  | 19,900 |
Other receivables, current |  |  | 14,593 |  |  |  | 6,172 |  |  |  | 20,765 |  |  |  | 32,041 |  |  |  | 11,165 |  |  |  | 43,206 |
Total trade and other receivables |  |  | 654,073 |  |  |  | 6,172 |  |  |  | 660,245 |  |  |  | 365,206 |  |  |  | 11,165 |  |  |  | 376,371 |
See discussion about credit risk in Note 4.2.
|  | As of December 31, 2021 |  |  | As of December 31, 2020 |
Trade and other receivables |  | Gross receivables |  |  | Impairment provision for doubtful receivables |  |  | Trade receivables, net |  |  | Gross receivables |  |  | Impairment provision for doubtful receivables |  |  | Trade receivables, net |
|  |  | ThUS$ |  |  |  | ThUS$ |  |  |  | ThUS$ |  |  |  | ThUS$ |  |  |  | ThUS$ |  |  |  | ThUS$ |
Receivables related to credit operations, current |  |  | 600,664 |  |  |  | (10,352 | ) |  |  | 590,312 |  |  |  | 327,586 |  |  |  | (14,321 | ) |  |  | 313,265 |
Prepayments, current |  |  | 49,952 |  |  |  | (784 | ) |  |  | 49,168 |  |  |  | 20,684 |  |  |  | (784 | ) |  |  | 19,900 |
Other receivables, current |  |  | 17,456 |  |  |  | (2,863 | ) |  |  | 14,593 |  |  |  | 36,664 |  |  |  | (4,623 | ) |  |  | 32,041 |
Other receivables, non-current |  |  | 6,172 |  |  |  | - |  |  |  | 6,172 |  |  |  | 11,165 |  |  |  | - |  |  |  | 11,165 |
Total trade and other receivables |  |  | 674,244 |  |  |  | (13,999 | ) |  |  | 660,245 |  |  |  | 396,099 |  |  |  | (19,728 | ) |  |  | 376,371 |
(a) | Renegotiated portfolio
As of December 31, 2021, and 2020 the detail of the renegotiated portfolio is as follows:
As of December 31, 2021
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 |  |  | 1,279 |  |  |  | 570,899 |  |  |  | 7 |  |  |  | 130 |
1 - 30 days |  |  | 112 |  |  |  | 22,632 |  |  |  | - |  |  |  | - |
31 - 60 days |  |  | 18 |  |  |  | 2,114 |  |  |  | - |  |  |  | - |
61 - 90 days |  |  | 11 |  |  |  | 1,015 |  |  |  | - |  |  |  | - |
91 - 120 days |  |  | 7 |  |  |  | 202 |  |  |  | - |  |  |  | - |
121 - 150 days |  |  | 3 |  |  |  | 43 |  |  |  | - |  |  |  | - |
151 - 180 days |  |  | 3 |  |  |  | 4 |  |  |  | - |  |  |  | - |
181 - 210 days |  |  | 3 |  |  |  | 130 |  |  |  | - |  |  |  | - |
211 - 250 days |  |  | 1 |  |  |  | 1 |  |  |  | 2 |  |  |  | 4 |
>250 days |  |  | 80 |  |  |  | 2,597 |  |  |  | 117 |  |  |  | 893 |
Total |  |  | 1,517 |  |  |  | 599,637 |  |  |  | 126 |  |  |  | 1,027 |
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 |
| (b) | Impairment provision for doubtful receivables
As of December 31, 2021
|  | 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 | % |  |  | 8 | % |  |  | 32 | % |  |  | 34 | % |  |  | 71 | % |  |  | - |  |  |  | - |
Total Gross Book Value |  |  | 571,029 |  |  |  | 22,633 |  |  |  | 2,113 |  |  |  | 1,015 |  |  |  | 3,874 |  |  |  | 600,664 |  |  |  | 86,869 |
Impairment Estimate |  |  | 4,724 |  |  |  | 1,856 |  |  |  | 673 |  |  |  | 346 |  |  |  | 2,753 |  |  |  | 10,352 |  |  |  | 717 |
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 |  |  |  | 70,146 |
Impairment Estimate |  |  | 3,187 |  |  |  | 1,207 |  |  |  | 477 |  |  |  | 83 |  |  |  | 9,367 |  |  |  | 14,321 |  |  |  | 7,545 |
As of December 31, 2021, and 2020, movements in provisions are as follows:
Provisions |  | As of December 31, 2021 |  |  | As of December 31, 2020 |
|  | ThUS$ |  |  | ThUS$ |
Impairment provision of Accounts receivable at the beginning of the year |  |  | 27,273 |  |  |  | 32,707 |
Increase (decrease) impairment of accounts receivable |  |  | 235 |  |  |  | (4,684 | )
Write-off of receivables |  |  | (11,091 | ) |  |  | (750 | )
Difference in exchange rate |  |  | (1,701 | ) |  |  | - |
Impairment provision of Accounts Receivable Provision at the end of the year |  |  | 14,716 |  |  |  | 27,273 |
(1) Trade and other Receivables Provision |  |  | 10,352 |  |  |  | 14,321 |
(2) Current other Receivables Provision |  |  | 3,647 |  |  |  | 5,407 |
(3) Trade receivables with related parties, current Provision |  |  | 717 |  |  |  | 7,545 |
Recovery of Insurance |  |  | 210 |  |  |  | 347 |
Impairment provision of Accounts Receivable |  |  | 14,716 |  |  |  | 27,273 |
Renegotiated receivables |  |  | 910 |  |  |  | 1,728 |
Non-renegotiated receivables |  |  | 13,806 |  |  |  | 25,545 |
| 12.3 | 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. (See more detail in Note 4.2 b).
As of December 31, 2021 |  | Assets |  |  | Liabilities |  |  | Total Realized |  |  | Hedging Reserve in Gross Equity (1) |
Type of Instrument: Cross currency interest rate swaps UF/CLP |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash flow hedge derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Short term |  |  | 12,625 |  |  |  | 8,954 |  |  |  |  |  |  |  |  |
Long term |  |  | 245 |  |  |  | 72,900 |  |  |  |  |  |  |  |  |
Underlying Debt Hedge |  |  | 12,870 |  |  |  | 81,854 |  |  |  | (22,455 | ) |  |  | (46,529 | )
Type of Instrument: Forwards/Options |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-hedge derivatives with effect on income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Short term |  |  | 1,254 |  |  |  | 1,672 |  |  |  |  |  |  |  |  |
Underlying Investments Hedge |  |  | 1,254 |  |  |  | 1,672 |  |  |  | 4,694 |  |  |  | - |
Total Instrumentos |  |  | 14,124 |  |  |  | 83,526 |  |  |  | (17,761 | ) |  |  | (46,529 | )
As of December 31, 2020 |  | Assets |  |  | Liabilities |  |  | Total Realized |  |  | Hedging Reserve in Gross Equity (1) |
Type of Instrument: Cross currency interest rate swaps UF/CLP |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash flow hedge derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Short term |  |  | - |  |  |  | 26,699 |  |  |  |  |  |  |  |  |
Long term |  |  | 37,276 |  |  |  | 13,511 |  |  |  |  |  |  |  |  |
Underlying Debt Hedge |  |  | 37,276 |  |  |  | 40,210 |  |  |  | (9,167 | ) |  |  | (6,233 | )
Type of Instrument: Forwards/Options |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-hedge derivatives with effect on income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Short term |  |  | 2,610 |  |  |  | 5,393 |  |  |  |  |  |  |  |  |
Underlying Investments Hedge |  |  | 2,610 |  |  |  | 5,393 |  |  |  | (9,049 | ) |  |  | - |
Total Instruments |  |  | 39,886 |  |  |  | 45,603 |  |  |  | (18,216 | ) |  |  | 6,233 |
(1) See underlying hedges in Note 4.2 letters b) and d) and movement of cash flow hedge reserve in Note 20.4. The balances in the column “Total Realized” consider the intermediate effects of the contracts that were in place between January 1 and December 31, 2021 and January 1and December 31, 2020.
Hedging Effect in Profit and Equity for the year as of December 31, 2021 |  | Variation Total |  |  | Effect on Profit or Loss |  |  | Hedge Reserves from Variation in Gross Hedges |
Analysis Effect by Type of Coverage |  |  |  |  |  |  |  |  |  |  |  |
Hedging in Current and Non-Current Assets |  |  | (24,406 | ) |  |  |  |  |  |  |  |
Hedging in Current and Non-Current Liabilities |  |  | 41,644 |  |  |  |  |  |  |  |  |
Total Hedge Effect in Profit or Loss and Equity for the period |  |  | 17,238 |  |  |  | (13,288 | ) |  |  | 30,526 |
Derivative contract maturities are detailed as follows:
Series |  | Contract amount |  |  | Currency |  | Maturity date
|  |  | ThUS$ |  |  |  |  |
H |  |  | 119,938 |  |  | 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.
12.4 | Financial liabilities
Other current and non-current financial liabilities As of December 31, 2021 and 2020, the detail is as follows:
|  | As of December 31, 2021 |  |  | As of December 31, 2020 |
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 |  |  | 85 |  |  |  | 69,613 |  |  |  | 69,698 |  |  |  | 82 |  |  |  | 69,376 |  |  |  | 69,458 |
Obligations with the public |  |  | 40,594 |  |  |  | 2,445,219 |  |  |  | 2,485,813 |  |  |  | 36,781 |  |  |  | 1,816,626 |  |  |  | 1,853,407 |
Derivative financial instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
For hedging |  |  | 8,954 |  |  |  | 72,900 |  |  |  | 81,854 |  |  |  | 26,699 |  |  |  | 13,511 |  |  |  | 40,210 |
Non-Hedging |  |  | 1,672 |  |  |  | - |  |  |  | 1,672 |  |  |  | 5,393 |  |  |  | - |  |  |  | 5,393 |
Total |  |  | 51,305 |  |  |  | 2,587,732 |  |  |  | 2,639,037 |  |  |  | 68,955 |  |  |  | 1,899,513 |  |  |  | 1,968,468 |
Current and non-current bank borrowings As of December 31, 2021 and 2020, the detail is as follows:
Current and non-current bank borrowings |  | As of December 31, 2021 |  |  | As of December 31, 2020 |
|  | ThUS$ |  |  | ThUS$ |
Current borrowings |  |  | 85 |  |  |  | 82 |
Non-current borrowings |  |  | 69,613 |  |  |  | 69,376 |
Current and non-current bank borrowings |  |  | 69,698 |  |  |  | 69,458 |
| a) | Bank borrowings, current:
As of December 31, 2021, and 2020, 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 |  | US$ |  | Upon maturity |  | 05/31/2022 |  | 0.82% |  | 1.36%
Debtor |  | Creditor |  | Nominal amounts as of December 31, 2021 |  |  | Current amounts as of December 31, 2021 |
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 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 85 |  |  |  | - |  |  |  | 85 |  |  |  | - |  |  |  | 85 |
Total |  |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 85 |  |  |  | - |  |  |  | 85 |  |  |  | - |  |  |  | 85 |
Debtor |  | Creditor |  |  |  |  |  |  |  |  |  |
Tax ID No |  | Company |  | Country |  | Tax ID No. |  | Financial institution |  | Country |  | Currency or adjustment index |  | Repayment |  | maturity |  | Effective rate |  | Nominal rate
93.007.000-9 |  | SQM S.A. |  | Chile |  | O-E |  | Scotiabank Cayman |  | USA |  | US$ |  | Upon maturity |  | 05/31/2022 |  | 1.00% |  | 1.36%
Debtor |  | Creditor |  | Nominal amounts as of December 31, 2020 |  |  | Current amounts as of December 31, 2020 |
|  |  |  | Up to 90 days |  |  | 90 days to 1 year |  |  | Total |  |  | Up to 90 days |  |  | 90 days to 1 year |  |  | Subtotal |  |  | Borrowing costs |  |  | Total |
Company |  | Financial institution |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
SQM S.A. |  | Scotiabank Cayman |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 82 |  |  |  | 82 |  |  |  | - |  |  |  | 82 |
Total |  |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 82 |  |  |  | 82 |  |  |  | - |  |  |  | 82 |
b) | Unsecured obligations, current:
As of December 31, 2021, and 2020, the detail of current unsecured interest-bearing obligations is composed of promissory notes and bonds, as follows:
Debtor |  |  |  |  |  |  |  |  |  | Periodicity |  |  |  |
Tax ID No. |  | Company |  | Country |  | Number of registration or ID of the instrument |  | Series |  | Maturity date |  | Currency or adjustment index |  | Payment of interest |  | Repayment |  | Effective rate |  | Nominal rate
93.007.000-9 |  | SQM S.A. |  | Chile |  | - |  | MUS$250 |  | 01/28/2022 |  | US$ |  | Semiannual |  | Upon maturity |  | 1.56% |  | 4.38%
93.007.000-9 |  | SQM S.A. |  | Chile |  | - |  | MUS$300 |  | 04/03/2022 |  | US$ |  | Semiannual |  | Upon maturity |  | 0.74% |  | 3.63%
93.007.000-9 |  | SQM S.A. |  | Chile |  | - |  | MUS$450 |  | 05/07/2022 |  | US$ |  | Semiannual |  | Upon maturity |  | 3.23% |  | 4.25%
93.007.000-9 |  | SQM S.A. |  | Chile |  | - |  | MUS$400 |  | 01/22/2022 |  | US$ |  | Semiannual |  | Upon maturity |  | 4.00% |  | 4.25%
93.007.000-9 |  | SQM S.A. |  | Chile |  | - |  | MUS$700 |  | 03/10/2022 |  | US$ |  | Semiannual |  | Upon maturity |  | 3.62% |  | 3.50%
93.007.000-9 |  | SQM S.A. |  | Chile |  | 564 |  | H |  | 01/05/2022 |  | UF |  | Semiannual |  | Semiannual |  | 1.75% |  | 4.90%
93.007.000-9 |  | SQM S.A. |  | Chile |  | 699 |  | O |  | 02/01/2022 |  | UF |  | Semiannual |  | Upon maturity |  | 2.06% |  | 3.80%
93.007.000-9 |  | SQM S.A. |  | Chile |  | 563 |  | P |  | 01/15/2022 |  | UF |  | Semiannual |  | Upon maturity |  | 2.04% |  | 3.25%
93.007.000-9 |  | SQM S.A. |  | Chile |  | 700 |  | Q |  | 06/01/2022 |  | UF |  | Semiannual |  | Upon maturity |  | 2.72% |  | 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, 2021 |  |  | Carrying amounts of maturities as of December 31, 2021 |
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 |  |  | - |  |  |  | 2,869 |  |  |  | 2,869 |  |  |  | - |  |  |  | 2,869 |  |  |  | 2,869 |  |  |  | (679 | ) |  |  | 2,190 |
SQM S.A. |  | Chile |  | MUS$400 |  |  | 7,508 |  |  |  | - |  |  |  | 7,508 |  |  |  | 7,508 |  |  |  | - |  |  |  | 7,508 |  |  |  | (237 | ) |  |  | 7,271 |
SQM S.A. |  | Chile |  | MUS$700 |  |  | 6,874 |  |  |  | - |  |  |  | 6,874 |  |  |  | 6,874 |  |  |  | - |  |  |  | 6,874 |  |  |  | (552 | ) |  |  | 6,322 |
SQM S.A. |  | Chile |  | H |  |  | 16,026 |  |  |  | - |  |  |  | 16,026 |  |  |  | 16,026 |  |  |  | - |  |  |  | 16,026 |  |  |  | (172 | ) |  |  | 15,854 |
SQM S.A. |  | Chile |  | O |  |  | 863 |  |  |  | - |  |  |  | 863 |  |  |  | 863 |  |  |  | - |  |  |  | 863 |  |  |  | (82 | ) |  |  | 781 |
SQM S.A. |  | Chile |  | P |  |  | 1,636 |  |  |  | - |  |  |  | 1,636 |  |  |  | 1,636 |  |  |  | - |  |  |  | 1,636 |  |  |  | (12 | ) |  |  | 1,624 |
SQM S.A. |  | Chile |  | Q |  |  | - |  |  |  | 314 |  |  |  | 314 |  |  |  | - |  |  |  | 314 |  |  |  | 314 |  |  |  | (21 | ) |  |  | 293 |
Total |  |  |  |  |  |  | 37,555 |  |  |  | 5,841 |  |  |  | 43,396 |  |  |  | 37,555 |  |  |  | 5,841 |  |  |  | 43,396 |  |  |  | (2,802 | ) |  |  | 40,594 |
Debtor |  |  |  |  |  |  |  |  |  | Periodicity |  |  |  |
Tax I No. |  | Company |  | Country |  | Number of registration or ID of the instrument |  | Series |  | Maturity date |  | Currency or adjustment index |  | Payment of interest |  | Repayment |  | Effective rate |  | Nominal rate
93.007.000-9 |  | SQM S.A. |  | Chile |  | - |  | 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 |  | H |  | 01/05/2021 |  | UF |  | Semiannual |  | Semiannual |  | 0.58% |  | 4.90%
93.007.000-9 |  | SQM S.A. |  | Chile |  | 699 |  | O |  | 02/01/2021 |  | UF |  | Semiannual |  | Upon maturity |  | 2.24% |  | 3.80%
93.007.000-9 |  | SQM S.A. |  | Chile |  | 563 |  | P |  | 01/15/2021 |  | UF |  | Semiannual |  | Upon maturity |  | 2.37% |  | 3.25%
93.007.000-9 |  | SQM S.A. |  | Chile |  | 700 |  | Q |  | 06/01/2021 |  | UF |  | 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$400 |  |  | - |  |  |  | 2,869 |  |  |  | 2,869 |  |  |  | - |  |  |  | 2,869 |  |  |  | 2,869 |  |  |  | (237 | ) |  |  | 2,632 |
SQM S.A. |  | Chile |  | H |  |  | 18,212 |  |  |  | - |  |  |  | 18,212 |  |  |  | 18,212 |  |  |  | - |  |  |  | 18,212 |  |  |  | (172 | ) |  |  | 18,040 |
SQM S.A. |  | Chile |  | O |  |  | 962 |  |  |  | - |  |  |  | 962 |  |  |  | 962 |  |  |  | - |  |  |  | 962 |  |  |  | (82 | ) |  |  | 880 |
SQM S.A. |  | Chile |  | P |  |  | 1,824 |  |  |  | - |  |  |  | 1,824 |  |  |  | 1,824 |  |  |  | - |  |  |  | 1,824 |  |  |  | (12 | ) |  |  | 1,812 |
SQM S.A. |  | Chile |  | Q |  |  | - |  |  |  | 350 |  |  |  | 350 |  |  |  | - |  |  |  | 350 |  |  |  | 350 |  |  |  | (21 | ) |  |  | 329 |
Total |  |  |  |  |  |  | 33,154 |  |  |  | 5,877 |  |  |  | 39,031 |  |  |  | 33,154 |  |  |  | 5,877 |  |  |  | 39,031 |  |  |  | (2,250 | ) |  |  | 36,781 |
c) | Classes of interest-bearing loans, non-current
The following table shows the details of bank loans as of December 31, 2021 and 2020:
Debtor |  | Creditor |  |  |  |  |  |  |  |
Tax ID No. |  | Company |  | Country |  | Tax ID No. |  | Financial institution |  | Country |  | Currency or adjustment index |  | Type of amortization |  | Effective rate |  | Nominal rate
93.007.000-9 |  | SQM S.A. |  | Chile |  | O-E |  | Scotiabank Cayman |  | USA |  | US$ |  | Maturity |  | 2.05% |  | 1.36%
Debtor |  | Creditor |  | Nominal non-current maturities as of December 31, 2021 |  |  | Carrying amounts of maturities as of December 31, 2021 |
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 |  |  |  | (387 | ) |  |  | 69,613 |
Total |  |  |  |  | 70,000 |  |  |  | - |  |  |  | - |  |  |  | 70,000 |  |  |  | 70,000 |  |  |  | - |  |  |  | - |  |  |  | 70,000 |  |  |  | (387 | ) |  |  | 69,613 |
Debtor |  | Creditor |  |  |  |  |  |  |  |
Tax ID No. |  | Company |  | Country |  | Tax ID No. |  | Financial institution |  | Country |  | Currency or adjustment index |  | Type of amortization |  | Effective rate |  | Nominal rate
93.007.000-9 |  | SQM S.A. |  | Chile |  | O-E |  | Scotiabank Cayman |  | USA |  | US$ |  | 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 |
d) | Non-current unsecured interest-bearing bonds
The following table shows the details of “unsecured debentures that accrue non-current interest” as of December 31, 2021, and 2020:
Debtor |  |  |  |  |  |  |  |  |  | Periodicity |  |  |  |
Tax ID No. |  | Company |  | Country |  | Number of registration or ID of the instrument |  | Series |  | Maturity date |  | Currency or adjustment index |  | Payment of interest |  | Repayment |  | Effective rate |  | Nominal rate
93.007.000-9 |  | SQM S.A. |  | Chile |  | - |  | 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 |  | 3.42% |  | 3.63%
93.007.000-9 |  | SQM S.A. |  | Chile |  | - |  | MUS$450 |  | 05/07/2029 |  | US$ |  | Semiannual |  | Upon maturity |  | 4.10% |  | 4.25%
93.007.000-9 |  | SQM S.A. |  | Chile |  | - |  | MUS$400 |  | 01/22/2050 |  | US$ |  | Semiannual |  | Upon maturity |  | 4.19% |  | 4.25%
93.007.000-9 |  | SQM S.A. |  | Chile |  | - |  | MUS$700 |  | 09/10/2051 |  | US$ |  | Semiannual |  | Upon maturity |  | 3.43% |  | 3.50%
93.007.000-9 |  | SQM S.A. |  | Chile |  | 564 |  | H |  | 01/05/2030 |  | UF |  | Semiannual |  | Semiannual |  | 4.76% |  | 4.90%
93.007.000-9 |  | SQM S.A. |  | Chile |  | 699 |  | O |  | 02/01/2033 |  | UF |  | Semiannual |  | Upon maturity |  | 3.69% |  | 3.80%
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 |  | 3.43% |  | 3.45%
|  | Nominal non-current maturities as of December 31, 2021 |  |  | Carrying amounts of maturities as of December 31, 2021 |
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 |  |  |  | (903 | ) |  |  | 249,097 |
MUS$300 |  |  | 300,000 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 300,000 |  |  |  | 300,000 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 300,000 |  |  |  | (168 | ) |  |  | 299,832 |
MUS$450 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 450,000 |  |  |  | 450,000 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 450,000 |  |  |  | 450,000 |  |  |  | (4,343 | ) |  |  | 445,657 |
MUS$400 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 400,000 |  |  |  | 400,000 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 400,000 |  |  |  | 400,000 |  |  |  | (6,347 | ) |  |  | 393,653 |
MUS$700 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 700,000 |  |  |  | 700,000 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 700,000 |  |  |  | 700,000 |  |  |  | (15,836 | ) |  |  | 684,164 |
H |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 100,064 |  |  |  | 100,064 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 100,064 |  |  |  | 100,064 |  |  |  | (1,206 | ) |  |  | 98,858 |
O |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 55,035 |  |  |  | 55,035 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 55,035 |  |  |  | 55,035 |  |  |  | (822 | ) |  |  | 54,213 |
P |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 110,070 |  |  |  | 110,070 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 110,070 |  |  |  | 110,070 |  |  |  | (65 | ) |  |  | 110,005 |
Q |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 110,070 |  |  |  | 110,070 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 110,070 |  |  |  | 110,070 |  |  |  | (330 | ) |  |  | 109,740 |
Total |  |  | 300,000 |  |  |  | - |  |  |  | 250,000 |  |  |  | - |  |  |  | 1,925,239 |  |  |  | 2,475,239 |  |  |  | 300,000 |  |  |  | - |  |  |  | 250,000 |  |  |  | - |  |  |  | 1,925,239 |  |  |  | 2,475,239 |  |  |  | (30,020 | ) |  |  | 2,445,219 |
Debtor |  |  |  |  |  |  |  |  |  | Periodicity |  |  |  |
Tax ID No. |  | Company |  | Country |  | Number of registration or ID of the instrument |  | Series |  | Maturity date |  | Currency or adjustment index |  | Payment of interest |  | Repayment |  | Effective rate |  | Nominal rate
93.007.000-9 |  | SQM S.A. |  | Chile |  | - |  | 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 |  | H |  | 01/05/2030 |  | UF |  | Semiannual |  | Semiannual |  | 4.76% |  | 4.90%
93.007.000-9 |  | SQM S.A. |  | Chile |  | 699 |  | O |  | 02/01/2033 |  | UF |  | Semiannual |  | Upon maturity |  | 3.68% |  | 3.80%
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 |  | 3.43% |  | 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$400 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 400,000 |  |  |  | 400,000 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 400,000 |  |  |  | 400,000 |  |  |  | (6,582 | ) |  |  | 393,418 |
H |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 126,386 |  |  |  | 126,386 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 126,386 |  |  |  | 126,386 |  |  |  | (1,378 | ) |  |  | 125,008 |
O |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 61,334 |  |  |  | 61,334 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 61,334 |  |  |  | 61,334 |  |  |  | (904 | ) |  |  | 60,430 |
P |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 122,668 |  |  |  | 122,668 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 122,668 |  |  |  | 122,668 |  |  |  | (77 | ) |  |  | 122,591 |
Q |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 122,668 |  |  |  | 122,668 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 122,668 |  |  |  | 122,668 |  |  |  | (352 | ) |  |  | 122,316 |
Total |  |  | - |  |  |  | 300,000 |  |  |  | - |  |  |  | 250,000 |  |  |  | 1,283,056 |  |  |  | 1,833,056 |  |  |  | - |  |  |  | 300,000 |  |  |  | - |  |  |  | 250,000 |  |  |  | 1,283,056 |  |  |  | 1,833,056 |  |  |  | (16,430 | ) |  |  | 1,816,626 |
e) | Additional information
Bonds The details of each issuance are as follows:
| (i) | Series “H” bonds
On January 13, 2009, the Company placed the Series H bond for UF 4,000,000 equivalent to ThUS$ 139,216 at an annual interest rate of 4.9%, with a term of 21 years and amortizations of principal beginning in July, 2019. 2020 During 2020, the amortization of principal amounted to UF 363,636.36, equivalent to ThUS$ 13,296 with an associated cross currency swap hedge income of ThUS$ 814. 2021 During 2021, amortization of principal amounted to UF 363,636.36, equivalent to ThUS$ 14,870 with an associated cross currency swap hedge loss of ThUS$ 760. For more details on restrictions. See Note 19.1. For the periods ended December 31, 2021, and 2020, the Company has made the following payments with a charge to the Series H bonds and their associated CCS hedging:
Payments made |  | December 31, 2021 |  |  | December 31, 2020 |  |  | December 31, 2019 |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Payments of interest, Series H bonds |  |  | 6,661 |  |  |  | 6,601 |  |  |  | 7,868 |
CCS Coverage |  |  | 1,598 |  |  |  | 2,575 |  |  |  | 1,952 |
| (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.
| F-88 |
Notes to the Consolidated Financial Statements December 31, 2021 |  |
For the periods ended December 31, 2021 and 2020, the detail of payments charged to the line of single series bonds, second issue is as follows.
Payments made |  | December 31, 2021 |  |  | December 31, 2020 |  |  | December 31, 2019 |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Payments of interest |  |  | - |  |  |  | 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 with respect a restriction in Note 19.1. For the periods ended December 31, 2021, and 2020, the Company has made the following payments with a charge to Series O bonds and their associated CCS hedging:
Payments made |  | December 31, 2021 |  |  | December 31, 2020 |  |  | December 31, 2019 |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Payments of interest, Series O bonds |  |  | 2,225 |  |  |  | 2,070 |  |  |  | 2,308 |
CCS Coverage |  |  | 438 |  |  |  | 599 |  |  |  | 354 |
| (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 December 31, 2021, and 2020, the following payments have been made with a debit to the line of single-series bonds, third issue:
Payments made |  | December 31, 2021 |  |  | December 31, 2020 |  |  | December 31, 2019 |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Payments of interest |  |  | 10,875 |  |  |  | 10,875 |  |  |  | 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 Securities and Exchange Commission. These bonds mature in 2025 and have annual interest rate of 4.375%. For the periods ended on December 31, 2021 and 2020, the following payments have been made.
Payments made |  | December 31, 2021 |  |  | December 31, 2020 |  |  | December 31, 2019 |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Payments of interest |  |  | 10,938 |  |  |  | 10,938 |  |  |  | 10,938 |
| (vi) | Series “P” bonds
The Company on March 31, 2008 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, 2021 and 2020, the following payments and their associated CCS have been made:
Payments made |  | December 31, 2021 |  |  | December 31, 2020 |  |  | December 31, 2019 |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Payments of interest, Series P bonds |  |  | 3,835 |  |  |  | 3,534 |  |  |  | 3,960 |
CCS Coverage |  |  | 3,119 |  |  |  | 3,439 |  |  |  | 2,995 |
| (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 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. See more details in Note 19.1 For the periods ended December 31, 2021 and 2020, the following payments have been made:
Payments made |  | December 31, 2021 |  |  | December 31, 2020 |  |  | December 31, 2019 |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Payments of interest, Series Q bonds |  |  | 3,990 |  |  |  | 3,769 |  |  |  | 3,791 |
CCS Coverage |  |  | 1,919 |  |  |  | 1,021 |  |  |  | - |
| (viii) | Single series fifth issue bonds M US$ 450
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, 2021 and 2020, the following payments have been made:
Payments made |  | December 31, 2021 |  |  | December 31, 2020 |  |  | December 31, 2019 |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Payments of interest |  |  | 19,125 |  |  |  | 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. For the periods ended on December 31, 2021 and 2020, the following payments have been made:
Payments made |  | December 31, 2021 |  |  | December 31, 2020 |  |  | December 31, 2019 |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Payments of interest |  |  | 17,000 |  |  |  | 8,500 |  |  |  | - |
| (x) | Single series seventh issue bonds MUS$ 700
On September 10, 2021, the Company has placed unsecured bonds in international markets for US$ 700 million, pursuant to Rule 144-A and Regulation S of the Securities and Exchange Commission, at an annual interest rate of 3.50 % and a maturity in the year 2051. For the periods ended on December 31, 2021 and 2020, no payments have been made.
| 12.5 | Trade and other payables
| a) | Details trade and other payables
|  | As of December 31, 2021 |  |  | As of December 31, 2020 |
Details trade and other payables |  | Current |  |  | Non-current |  |  | Current |  |  | Current |  |  | Non-current |  |  | Total |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Accounts payable |  |  | 279,092 |  |  |  | - |  |  |  | 279,092 |  |  |  | 203,346 |  |  |  | - |  |  |  | 203,346 |
Other accounts payable |  |  | 558 |  |  |  | - |  |  |  | 558 |  |  |  | 587 |  |  |  | - |  |  |  | 587 |
Prepayments from customers |  |  | - |  |  |  | 3,813 |  |  |  | 3,813 |  |  |  | - |  |  |  | 4,027 |  |  |  | 4,027 |
Total |  |  | 279,650 |  |  |  | 3,813 |  |  |  | 283,463 |  |  |  | 203,933 |  |  |  | 4,027 |  |  |  | 207,960 |
As of December 31, 2021, and 2020, 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, 2021 |
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 |  |  | 148,045 |  |  |  | 1,799 |  |  |  | 1,425 |  |  |  | - |  |  |  | 120 |  |  |  | 3,813 |  |  |  | 155,202 |
Services |  |  | 80,089 |  |  |  | 335 |  |  |  | 109 |  |  |  | 2 |  |  |  | 78 |  |  |  | - |  |  |  | 80,613 |
Others |  |  | 31,949 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 31,949 |
Total |  |  | 260,083 |  |  |  | 2,134 |  |  |  | 1,534 |  |  |  | 2 |  |  |  | 198 |  |  |  | 3,813 |  |  |  | 267,764 |
|  | 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 |
Suppliers past due on payments
|  | Amounts according to payment periods as of December 31, 2021 |
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 |  |  | 7,688 |  |  |  | 30 |  |  |  | 5 |  |  |  | 1 |  |  |  | 37 |  |  |  | - |  |  |  | 7,761 |
Services |  |  | 4,055 |  |  |  | 108 |  |  |  | 533 |  |  |  | 34 |  |  |  | 181 |  |  |  | - |  |  |  | 4,911 |
Others |  |  | 2,340 |  |  |  | 16 |  |  |  | 73 |  |  |  | 35 |  |  |  | 5 |  |  |  | - |  |  |  | 2,469 |
Total |  |  | 14,083 |  |  |  | 154 |  |  |  | 611 |  |  |  | 70 |  |  |  | 223 |  |  |  | - |  |  |  | 15,141 |
|  | 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 |
Purchase commitments held by the Company are recognized as liabilities when the goods and services are received by the Company. As of December 31, 2021, the Company has purchase orders amounting to ThUS$ 166,209 and ThUS$ 55,516 as of December 31, 2020.
| 12.6 | Financial asset and liability categories
| a) | Financial Assets
|  | As of December 31, 2021 |  |  | As of December 31, 2020 |
Description of financial assets |  | Current |  |  | Non-current |  |  | Total |  |  | Current |  |  | Non-current |  |  | Total |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Cash and cash equivalent |  |  | 1,515,051 |  |  |  | - |  |  |  | 1,515,051 |  |  |  | 509,102 |  |  |  | - |  |  |  | 509,102 |
Trade receivables due from related parties at amortized cost |  |  | 86,152 |  |  |  | - |  |  |  | 86,152 |  |  |  | 62,601 |  |  |  | - |  |  |  | 62,601 |
Financial assets measured at amortized cost |  |  | 905,170 |  |  |  | 91 |  |  |  | 905,261 |  |  |  | 345,459 |  |  |  | 80 |  |  |  | 345,539 |
Trade and other receivables |  |  | 654,073 |  |  |  | 6,172 |  |  |  | 660,245 |  |  |  | 365,206 |  |  |  | 11,165 |  |  |  | 376,371 |
Total financial assets measured at amortized cost |  |  | 3,160,446 |  |  |  | 6,263 |  |  |  | 3,166,709 |  |  |  | 1,282,368 |  |  |  | 11,245 |  |  |  | 1,293,613 |
Financial instruments for hedging purposes |  |  | 12,625 |  |  |  | 245 |  |  |  | 12,870 |  |  |  | - |  |  |  | 37,276 |  |  |  | 37,276 |
Financial instruments held for trading |  |  | 1,254 |  |  |  | - |  |  |  | 1,254 |  |  |  | 2,610 |  |  |  | - |  |  |  | 2,610 |
Financial assets classified as available for sale at fair value through equity |  |  | - |  |  |  | 8,932 |  |  |  | 8,932 |  |  |  | - |  |  |  | 14,569 |  |  |  | 14,569 |
Total financial assets at fair value |  |  | 13,879 |  |  |  | 9,177 |  |  |  | 23,056 |  |  |  | 2,610 |  |  |  | 51,845 |  |  |  | 54,455 |
Total financial assets |  |  | 3,174,325 |  |  |  | 15,440 |  |  |  | 3,189,765 |  |  |  | 1,284,978 |  |  |  | 63,090 |  |  |  | 1,348,068 |
b) | Financial Liabilities
|  | As of December 31, 2021 |  |  | As of December 31, 2020 |
Description of financial liabilities |  | Current |  |  | Non-current |  |  | Total |  |  | Current |  |  | Non-current |  |  | Total |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
For hedging purposes through equity |  |  | 8,954 |  |  |  | 72,900 |  |  |  | 81,854 |  |  |  | 26,699 |  |  |  | 13,511 |  |  |  | 40,210 |
Held for trading at fair value through profit or loss |  |  | 1,672 |  |  |  | - |  |  |  | 1,672 |  |  |  | 5,393 |  |  |  | - |  |  |  | 5,393 |
Financial liabilities at fair value |  |  | 10,626 |  |  |  | 72,900 |  |  |  | 83,526 |  |  |  | 32,092 |  |  |  | 13,511 |  |  |  | 45,603 |
Bank loans |  |  | 85 |  |  |  | 69,613 |  |  |  | 69,698 |  |  |  | 82 |  |  |  | 69,376 |  |  |  | 69,458 |
Obligations to the public |  |  | 40,594 |  |  |  | 2,445,219 |  |  |  | 2,485,813 |  |  |  | 36,781 |  |  |  | 1,816,626 |  |  |  | 1,853,407 |
Lease Liabilities |  |  | 7,704 |  |  |  | 46,519 |  |  |  | 54,223 |  |  |  | 5,528 |  |  |  | 25,546 |  |  |  | 31,074 |
Trade and other payables |  |  | 279,650 |  |  |  | 3,813 |  |  |  | 283,463 |  |  |  | 203,933 |  |  |  | 4,027 |  |  |  | 207,960 |
Trade payables due to related parties |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 606 |  |  |  | - |  |  |  | 606 |
Total financial liabilities at amortized cost |  |  | 328,033 |  |  |  | 2,565,164 |  |  |  | 2,893,197 |  |  |  | 246,930 |  |  |  | 1,915,575 |  |  |  | 2,162,505 |
Total financial liabilities |  |  | 338,659 |  |  |  | 2,638,064 |  |  |  | 2,976,723 |  |  |  | 279,022 |  |  |  | 1,929,086 |  |  |  | 2,208,108 |
12.7 | Fair value measurement of finance assets and liabilities
The fair value hierarchy is detailed as follows:
| (a) | Level 1: The fair value of financial instruments traded in active markets (such as equity securities) is based on quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity can access at the measurement date . The quoted market price used for financial assets held by the Company is the current bid price. These instruments are included in level 1.
| (b) | Level 2: The fair value of financial instruments that are not traded in an active market (for example, over-the-counter derivatives) is determined using valuation techniques which maximize the use of observable market inputs and rely as little as possible on entity-specific estimates. Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly .
| (c) | Level 3: If one or more of the significant inputs is not based on observable market data for the asset or liability , the instrument is included in level 3. This is the case for unlisted equity securities.
|  | As of December 31, 2021 |  |  | Measurement Methodology |
Fair value measurement of assets and liabilities |  | Carrying Amount at Amortized Cost |  |  | Fair value ( disclosure purposes) |  |  | Fair value recognized |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Financial Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  |  | 1,515,051 |  |  |  | 1,515,051 |  |  |  | - |  |  |  | - |  |  |  | 1,515,051 |  |  |  | - |
Other current financial assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
- Time deposits |  |  | 905,170 |  |  |  | 905,170 |  |  |  | - |  |  |  | - |  |  |  | 905,170 |  |  |  | - |
- Derivative financial instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
- Forwards |  |  | - |  |  |  | - |  |  |  | 1,031 |  |  |  | - |  |  |  | 1,031 |  |  |  | - |
- Options |  |  | - |  |  |  | - |  |  |  | 223 |  |  |  | - |  |  |  | 223 |  |  |  | - |
- Hedging assets |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
- Swaps |  |  | - |  |  |  | - |  |  |  | 12,613 |  |  |  | - |  |  |  | 12,613 |  |  |  | - |
Non-current accounts receivable |  |  | 6,172 |  |  |  | 6,172 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Other non-current financial assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
- Other |  |  | 91 |  |  |  | 91 |  |  |  | - |  |  |  | - |  |  |  | 91 |  |  |  | - |
- Equity instruments |  |  | - |  |  |  | - |  |  |  | 8,932 |  |  |  | 8,932 |  |  |  | - |  |  |  | - |
- Hedging assets – Swaps |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Other current financial liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
- Bank borrowings |  |  | 85 |  |  |  | 85 |  |  |  | - |  |  |  | - |  |  |  | 85 |  |  |  | - |
- Derivative instruments |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
- Forwards |  |  | - |  |  |  | - |  |  |  | 1,270 |  |  |  | - |  |  |  | 1,270 |  |  |  | - |
- Options |  |  | - |  |  |  | - |  |  |  | 402 |  |  |  | - |  |  |  | 402 |  |  |  | - |
- Hedging liabilities – Swaps |  |  | - |  |  |  | - |  |  |  | 8,954 |  |  |  | - |  |  |  | 8,954 |  |  |  | - |
- Swaps hedges, investments |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
- Unsecured obligations |  |  | 40,594 |  |  |  | 40,594 |  |  |  | - |  |  |  | - |  |  |  | 40,594 |  |  |  | - |
- Current lease liabilities |  |  | 7,704 |  |  |  | 7,704 |  |  |  | - |  |  |  | - |  |  |  | 7,704 |  |  |  | - |
Other non-current financial liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
- Bank borrowings |  |  | 69,613 |  |  |  | 70,497 |  |  |  | - |  |  |  | - |  |  |  | 70,497 |  |  |  | - |
- Unsecured obligations |  |  | 2,445,219 |  |  |  | 2,871,005 |  |  |  | - |  |  |  | - |  |  |  | 2,871,005 |  |  |  | - |
- Non-current hedging liabilities |  |  | - |  |  |  | - |  |  |  | 72,900 |  |  |  | - |  |  |  | 72,900 |  |  |  | - |
- Non-current lease liabilities |  |  | 46,519 |  |  |  | 34,521 |  |  |  | - |  |  |  | - |  |  |  | 34,521 |  |  |  | - |
|  | As of December 31, 2020 |  |  | Measurement Methodology |
Fair value measurement of assets and liabilities |  | Carrying Amount at Amortized Cost |  |  | Fair value ( disclosure purposes) |  |  | Fair value recognized |  |  | 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 |  |  | 80 |  |  |  | 80 |  |  |  | - |  |  |  | - |  |  |  | 80 |  |  |  | - |
- Equity instruments |  |  | - |  |  |  | - |  |  |  | 14,569 |  |  |  | 14,569 |  |  |  | - |  |  |  | - |
- Hedging assets – Swaps |  |  | - |  |  |  | - |  |  |  | 37,276 |  |  |  | - |  |  |  | 37,276 |  |  |  | - |
Other current financial liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
- Bank borrowings |  |  | 82 |  |  |  | 82 |  |  |  | - |  |  |  | - |  |  |  | 82 |  |  |  | - |
- Derivative instruments |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
- Forwards |  |  | - |  |  |  | - |  |  |  | 4,614 |  |  |  | - |  |  |  | 4,614 |  |  |  | - |
- Options |  |  | - |  |  |  | - |  |  |  | 780 |  |  |  | - |  |  |  | 780 |  |  |  | - |
- Hedging liabilities – Swaps |  |  | - |  |  |  | - |  |  |  | 5,695 |  |  |  | - |  |  |  | 5,695 |  |  |  | - |
- 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 borrowings |  |  | 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 |  |  |  | - |
| 12.8 | Estimated fair value of financial instruments
The fair value of financial assets and liabilities is estimated using the following information. Although the data represent Management's best estimates, it is subjective and involves significant estimates regarding current economic conditions, market conditions and risk characteristics. Methodologies and assumptions used depend on the risk terms and characteristics of instruments and include the following as a summary: Fair value estimation for recognition purposes 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 (Peso/UF) and liability (Dollar) 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 hedge reserve in the statement of comprehensive income, depending on each particular case. Estimate of fair value for disclosure purposes
| · | Cash equivalent approximates fair value due to the short-term maturities of these instruments.
| · | The fair value of current trade receivables 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), borrowings 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.
| 12.9 | Net Debt reconciliation
This section presents an analysis of net debt plus lease liabilities and their movements for each of the reported periods. The definition of the net debt is described in Note 19.1. and includes current and non-current lease liabilities to complete its analysis.
Net debt |  | As of December 31, 2021 |  |  | As of December 31, 2020 |
|  | ThUS$ |  |  | ThUS$ |
Cash and cash equivalents |  |  | 1,515,051 |  |  |  | 509,102 |
Other current financial assets |  |  | 919,049 |  |  |  | 348,069 |
Other non-current financial hedge assets |  |  | 245 |  |  |  | 37,276 |
Other current financial liabilities |  |  | (51,305 | ) |  |  | (68,955 | )
Lease liabilities, current |  |  | (7,704 | ) |  |  | (5,528 | )
Other non-current financial liabilities |  |  | (2,587,732 | ) |  |  | (1,899,513 | )
Non-current Lease liabilities |  |  | (46,519 | ) |  |  | (25,546 | )
Total |  |  | (258,915 | ) |  |  | (1,105,095 | )
|  |  |  |  | From cash flow |  |  | Not from cash flow |  |  |  |
Net debt |  | As of December 31, 2020 |  |  | Amounts from loans |  |  | Amounts from interests |  |  | Other cash income/expenses |  |  | Hedging and non- hedging instruments |  |  | Exchange rate differences |  |  | Others |  |  | As of December 31, 2021 |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Obligations with the public and bank loans |  |  | (1,922,864 | ) |  |  | (685,130 | ) |  |  | 75,578 |  |  |  | 16,570 |  |  |  | - |  |  |  | 44,473 |  |  |  | (84,138 | ) |  |  | (2,555,511 | )
Current and non-current lease liabilities |  |  | (31,074 | ) |  |  | 7,960 |  |  |  | 1,587 |  |  |  | - |  |  |  | - |  |  |  | 181 |  |  |  | (32,877 | ) |  |  | (54,223 | )
Financial instruments derived from hedging |  |  | 18,070 |  |  |  | (760 | ) |  |  | 7,238 |  |  |  | - |  |  |  | (45,017 | ) |  |  | - |  |  |  | (61,128 | ) |  |  | (81,597 | )
Current and non-current financial liabilities |  |  | (1,935,868 | ) |  |  | (677,930 | ) |  |  | 84,403 |  |  |  | 16,570 |  |  |  | (45,017 | ) |  |  | 44,654 |  |  |  | (178,143 | ) |  |  | (2,691,331 | )
Cash and cash equivalents |  |  | 509,102 |  |  |  | - |  |  |  | - |  |  |  | 1,022,061 |  |  |  | - |  |  |  | (16,112 | ) |  |  | - |  |  |  | 1,515,051 |
Deposits that do not qualify as cash and cash equivalents |  |  | 345,459 |  |  |  | - |  |  |  | (2,747 | ) |  |  | 585,106 |  |  |  | - |  |  |  | (27,315 | ) |  |  | 4,667 |  |  |  | 905,170 |
Derivatives from hedge assets |  |  | (21,004 | ) |  |  | - |  |  |  | - |  |  |  | 9,405 |  |  |  | 23,082 |  |  |  | - |  |  |  | 1,130 |  |  |  | 12,613 |
Derivatives from other financial non-hedge assets |  |  | (2,784 | ) |  |  | - |  |  |  | - |  |  |  | (2,327 | ) |  |  | 4,693 |  |  |  | - |  |  |  | - |  |  |  | (418 | )
Total |  |  | (1,105,095 | ) |  |  | (677,930 | ) |  |  | 81,656 |  |  |  | 1,630,815 |  |  |  | (17,242 | ) |  |  | 1,227 |  |  |  | (172,346 | ) |  |  | (258,915 | )
| F-100 |
Notes to the Consolidated Financial Statements December 31, 2021 |  |
|  |  |  |  | From cash flow |  |  | Not from cash flow |  |  |  |
Net debt |  | As of December 31, 2019 |  |  | Amounts from loans |  |  | Amounts from interests |  |  | Other cash income/expenses |  |  | Hedging and non- hedging instruments |  |  | Exchange rate differences |  |  | Others |  |  | As of December 31, 2020 |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Obligations with the public and bank loans |  |  | (1,753,028 | ) |  |  | (136,692 | ) |  |  | 73,933 |  |  |  | 7,819 |  |  |  | - |  |  |  | (33,280 | ) |  |  | (81,616 | ) |  |  | (1,922,864 | )
Current and non-current lease liabilities |  |  | (37,897 | ) |  |  | 8,015 |  |  |  | 1133 |  |  |  | 0 |  |  |  | - |  |  |  | - |  |  |  | (2,325 | ) |  |  | (31,074 | )
Financial instruments derived from hedging |  |  | (23,655 | ) |  |  | 814 |  |  |  | 7.634 |  |  |  | 0 |  |  |  | 37,371 |  |  |  | - |  |  |  | (4,094 | ) |  |  | 18,070 |
Current and non-current financial liabilities |  |  | (1,814,580 | ) |  |  | (127,863 | ) |  |  | 82,700 |  |  |  | 7,819 |  |  |  | 37,371 |  |  |  | (33,280 | ) |  |  | (88,035 | ) |  |  | (1,935,868 | )
Cash and cash equivalents |  |  | 588,530 |  |  |  | - |  |  |  | - |  |  |  | (78,988 | ) |  |  | - |  |  |  | (440 | ) |  |  | - |  |  |  | 509,102 |
Deposits that do not qualify as cash and cash equivalents |  |  | 485,689 |  |  |  | - |  |  |  | - |  |  |  | (123,196 | ) |  |  | - |  |  |  | (14,032 | ) |  |  | (3,002 | ) |  |  | 345,459 |
Derivatives from hedge assets |  |  | 21,188 |  |  |  | - |  |  |  | (1,216 | ) |  |  | (39,290 | ) |  |  | (2,074 | ) |  |  | - |  |  |  | 388 |  |  |  | (21,004 | )
Derivatives from other financial non-hedge assets |  |  | (637 | ) |  |  | - |  |  |  | - |  |  |  | 10.071 |  |  |  | (12,218 | ) |  |  | - |  |  |  | - |  |  |  | (2,784 | )
Total |  |  | (719,810 | ) |  |  | (127,863 | ) |  |  | 81,484 |  |  |  | (223,584 | ) |  |  | 23,079 |  |  |  | (47,752 | ) |  |  | (90,649 | ) |  |  | (1,105,095 | )

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