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Equity-accounted investees | 12 Months Ended
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Dec. 31, 2022
Equity-accounted investees |
Equity-accounted investees | Note 7Equity-accounted investees 7.1Investments in associates recognized according to the equity method of accounting ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | Share in profit (loss) of associates | Share in other comprehensive income of | Share in total comprehensive income of
​ | ​ | ​ | ​ | ​ | ​ | ​ | accounted for using the equity | associates accounted for using the equity | associates accounted for using the equity
​ | ​ | Equity-accounted investees | ​ | method | ​ | method | ​ | method
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | For the year | ​ | For the year | ​ | For the year | ​ | For the year | ​ | For the year | ​ | For the year | ​ | For the year | ​ | For the year | ​ | For the year
​ | ​ | As of | ​ | As of | ​ | As of | ​ | ended | ​ | ended | ​ | ended | ​ | ended | ​ | ended | ​ | ended | ​ | ended | ​ | ended | ​ | ended
​ | ​ | December | ​ | December | ​ | December | ​ | December | ​ | December | ​ | December | ​ | December | ​ | December | ​ | December | ​ | December | ​ | December | ​ | December
Associate | ​ | 31, 2022 | ​ | 31, 2021 | ​ | 31, 2020 | ​ | 31, 2022 | ​ | 31, 2021 | ​ | 31, 2020 | ​ | 31, 2022 | ​ | 31, 2021 | ​ | 31, 2020 | ​ | 31, 2022 | ​ | 31, 2021 | ​ | 31, 2020
​ | ​ | ThUS$ | ​ | ThUS$ | ​ | ThUS$ | ​ | ThUS$ | ​ | ThUS$ | ​ | ThUS$ | ​ | ThUS$ | ​ | ThUS$ | ​ | ThUS$ | ​ | ThUS$ | ​ | ThUS$ | ​ | ThUS$
Abu Dhabi Fertilizer Industries WWL |  | — |  | — |  | 11,505 |  | — |  | — |  | (156) |  | — |  | — |  | — |  | — |  | — |  | (156)
Doktor Tarsa Tarim Sanayi AS (*) |  | — |  | — |  | — |  | — |  | — |  | 4,031 |  | — |  | — |  | — |  | — |  | — |  | 4,031
Ajay North America |  | 17,654 |  | 15,899 |  | 14,468 |  | 5,351 |  | 2,802 |  | 2,191 |  | — |  | — |  | — |  | 5,351 |  | 2,802 |  | 2,191
Ajay Europe SARL |  | 8,624 |  | 8,213 |  | 7,875 |  | 6,130 |  | 1,852 |  | 1,029 |  | (498) |  | 360 |  | 756 |  | 5,632 |  | 2,212 |  | 1,785
SQM Eastmed Turkey (*) |  | — |  | — |  | — |  | — |  | — |  | 247 |  | — |  | — |  | — |  | — |  | — |  | 247
Kore Potash PLC (**) |  | — |  | — |  | 26,175 |  | — |  | — |  | (224) |  | — |  | — |  | (374) |  | — |  | — |  | (598)
Total |  | 26,278 |  | 24,112 |  | 60,023 |  | 11,481 |  | 4,654 |  | 7,118 |  | (498) |  | 360 |  | 382 |  | 10,983 |  | 5,014 |  | 7,500
(*) | These investments were disposed of in 2020
(**) | For more details, see Note 7.3 (b).
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Dividends received for the year ending
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Share of | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Description of the nature | ​ | ​ | ​ | Country of | ​ | ownership in | ​ | December 31, | ​ | December 31, | ​ | December 31,
Associate | ​ | of the relationship | ​ | Address | ​ | incorporation | ​ | associates |  | 2022 |  | 2021 |  | 2020
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | ThUS$ |  | ThUS$ |  | ThUS$
Abu Dhabi Fertilizer Industries WWL |  | Distribution and commercialization of specialty plant nutrients in the Middle East. |  | PO Box 71871, Abu Dhabi |  | United Arab Emirates |  | 37 | % | 3,000 |  | 9,438 |  | —
Ajay North America |  | Production and distribution of iodine and iodine derivatives. |  | 1400 Industry RD Power Springs GA 30129 |  | United States of North America |  | 49 | % | 1,576 |  | 1,233 |  | 1,967
Ajay Europe SARL |  | Production and distribution of iodine and iodine derivatives. |  | Z.I. du Grand Verger BP 227 53602 Evron Cedex |  | France |  | 50 | % | 1,778 |  | 992 |  | 1,197
Total |  |  |  |  |  |  |  |  |  | 6,354 |  | 11,663 |  | 3,164
​ 7.2Assets, liabilities, revenue and expenses of associates The information disclosed reflects the amounts presented in the financial statements of the relevant associates and not the Company's share of those amounts. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of December 31, 2022 | ​ | For the year ended December 31, 2022
​ | ​ | Assets | ​ | Liabilities | ​ | ​ | ​ | ​ | ​ | Other | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | comprehensive | ​ | Comprehensive
Associate |  | Current |  | Non-current |  | Current |  | Non-current | ​ | Revenue | ​ | Net income (loss) | ​ | income | ​ | income
​ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$
Ajay North America |  | 30,455 |  | 15,972 |  | 10,395 |  | 2 |  | 63,482 |  | 10,919 |  | — |  | 10,919
Ajay Europe SARL |  | 33,742 |  | 1,992 |  | 18,486 |  | — |  | 64,060 |  | 12,261 |  | (21) |  | 12,240
Total |  | 64,197 |  | 17,964 |  | 28,881 |  | 2 |  | 127,542 |  | 23,180 |  | (21) |  | 23,159
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of December 31, 2021 | ​ | For the year ended December 31, 2021
​ | ​ | Assets | ​ | Liabilities | ​ | ​ | ​ | ​ | ​ | Other | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | comprehensive | ​ | Comprehensive
Associate |  | Current |  | Non-current |  | Current |  | Non-current | ​ | Revenue | ​ | Net income (loss) | ​ | income | ​ | income
​ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$
Ajay North America |  | 21,771 |  | 15,096 |  | 4,421 |  | — |  | 47,375 |  | 5,718 |  | — |  | 5,718
Ajay Europe SARL |  | 25,927 |  | 1,241 |  | 10,742 |  | — |  | 48,409 |  | 3,705 |  | (34) |  | 3,671
Total |  | 47,698 |  | 16,337 |  | 15,163 |  | — |  | 95,784 |  | 9,423 |  | (34) |  | 9,389
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of December 31, 2020 | ​ | For the year ended December 31, 2020
​ | ​ | Assets | ​ | Liabilities | ​ | ​ | ​ | ​ | ​ | Other | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | comprehensive | ​ | Comprehensive
Associate |  | Current |  | Non-current |  | Current |  | Non-current | ​ | Revenue | ​ | Net income (loss) | ​ | income | ​ | income
​ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$
Abu Dhabi Fertilizer Industries WWL |  | 29,313 |  | 8,586 |  | 6,706 |  | 101 |  | 6,641 |  | (420) |  | — |  | (420)
Ajay North America |  | 18,513 |  | 15,749 |  | 4,737 |  | — |  | 42,920 |  | 4,471 |  | — |  | 4,471
Ajay Europe SARL |  | 22,032 |  | 1,493 |  | 7,773 |  | — |  | 41,950 |  | 2,058 |  | 1,736 |  | 3,794
Kore Potash PLC |  | 5,691 |  | 124,112 |  | 786 |  | — |  | — |  | (3,233) |  | 486 |  | (2,747)
Total |  | 75,549 |  | 149,940 |  | 20,002 |  | 101 |  | 91,511 |  | 2,876 |  | 2,222 |  | 5,098
​ 7.3Disclosures regarding interests in associates
| (a) | Transactions for the year ended December 31, 2022:
| ● | During February 2022, the Company received dividends of ThUS$ 3,000 from Abu Dhabi Fertilizer Industries WWL which triggered a income of ThUS$ 523 recorded in the line item other (losses), corresponding to the excess over the account receivable recognized in December 2021.
​
| (b) | Transactions for the year ended December 31, 2021:
| ● | During the first quarter 2021, Kore Potash PLC made a share payment to its non-executive board members (remuneration shares) plus certain employees and former employees (performance shares) which resulted in a 0.05% share reduction for the company, leaving it with 20.15%. During the second quarter of 2021, Kore Potash PLC approved a capital stock increase of ThUS$ 13,931 through the issuance of common shares, which resulted
|  | in a dilution of 5.5% of SQM shares in the company, with an impact of ThUS$ (5,778) on other gains (losses). As a result of the dilution, the Company considered that there has been a loss of significant influence on the investment, discontinued its measurement through the equity method, and recognized an amount of ThUS$ 3,739 under other gains (losses) related to items recognized in other comprehensive income associated with this investment. See Note 12.1 for more details.
| ● | As of December 31, 2021, the Company received dividends from Abu Dhabi Fertilizer Industries WWL of ThUS$ 9,438 and recognized an account receivable for ThUS$ 2,477 in dividends receivable.
| ● | On June 30, 2021, the Company made an assessment of the recovery of the investment in Abu Dhabi Fertilizer Industries WWL and recognized an impairment of ThUS$ 2,800 in other gains (losses). This impairment was reversed in the second half of the year the recoverable value amount of the investment later increased.
| (c) | Transactions for the year ended December 31, 2020:
| ● | Kore Potash PLC made a share payment to its non-executive board members, which resulted in a 0.60% share reduction for the company, finalizing with a share percentage of 19.07% at the close of the second quarter of 2020. This resulted in a transfer in equity of non-controlling interest to other reserves in an amount of ThUS$ 754.
| ● | In the third quarter of 2020 SQM S.A. increased its shares in Kore Potash PLC to 20.26% as a result of the acquisition of 260,598,591 shares out of 584,753,846 shares issued for a capital increase corresponding to ThUS$ 1,679.
| ● | In the third quarter of 2020, shares held in Doktor Tarsa Tarim and its subsidiaries were sold through Soquimich European Holdings B.V. at a value of ThUS$ 33,066, which brought about a loss of ThUS$ 11,408.
| ● | In the third quarter of 2020, shares held in SQM Eastmed Turkey were sold through Soquimich European Holdings B.V. at a value of ThUS$ 618, which brought about a loss of ThUS$ 408.
| ● | During the fourth quarter of 2020, SQM Holland (subsidiary) acquired the business of WSNPK from Plantacote N.V. (subsidiary of Doktor Tarsa Tarim Sanayi AS) for ThUS$ 16,757, which generated goodwill of ThUS$ 7,380. See Note 14.
| ● | During the fourth quarter of 2020, Kore Potash PLC made a share-based payment to its non-executive board members, which resulted in a 0.06% share reduction for the company, finalizing with a share percentage of 20.20%. This resulted in a decrease in consolidated equity of non-controlling interests in other reserves of ThUS$ 79.

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