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Financial risk management (Tables) | 12 Months Ended
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Dec. 31, 2022
Financial risk management |
Schedule of credit quality of issuing banks | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | As of
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | December 31,
Financial institution | ​ | Financial assets | ​ | Rating | ​ | 2022
​ |  | ​ |  | Moody´s |  | S&P |  | Fitch |  | ThUS$
Agricultural Bank of China | ​ | Bank notes | ​ | P-1 | ​ | A-1 | ​ | F1+ | ​ | 10,334
Bank of China Limited |  | Bank notes |  | P-1 |  | A-1 |  | F1+ |  | 27,936
Bank of Jiujiang |  | Bank notes |  | P-2 |  | - |  | - |  | 1,964
Bank of Ningbo |  | Bank notes |  | P-2 |  | - |  | - |  | 3,148
Others | ​ | Bank notes | ​ | - | ​ | - | ​ | - | ​ | 1,887
Total |  |  |  |  |  |  |  |  |  | 45,269
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | December 31,
Financial institution | ​ | Financial assets | ​ | Rating | ​ | 2021
​ |  | ​ |  | Moody´s |  | S&P |  | Fitch |  | ThUS$
Agricultural Bank of China | ​ | Bank notes | ​ | P-1 | ​ | A-1 | ​ | A | ​ | 860
Bank of China Limited |  | Bank notes |  | P-1 |  | A-1 |  | A |  | 4,167
Bank of Communications |  | Bank notes |  | P-1 |  | A-2 |  | A |  | 7,422
China CITIC Bank Corp Ltd |  | Bank notes |  | P-2 |  | A-2 |  | BBBu |  | 2,623
China Construction Bank Corporation | ​ | Bank notes | ​ | - | ​ | A-1 | ​ | A | ​ | 7,122
China Everbrith Bank Co. Ltd | ​ | Bank notes | ​ | (P) P-2 | ​ | A-2 | ​ | BBB | ​ | 6,569
China Merchants Bank | ​ | Bank notes | ​ | - | ​ | A-2 | ​ | A-u | ​ | 22,628
China Minsheng Bank Corporation | ​ | Bank notes | ​ | - | ​ | A-3 | ​ | BB+u | ​ | 784
Industrial & Commercial Bank of China Limited | ​ | Bank notes | ​ | P-1 | ​ | A-1 | ​ | Au | ​ | 353
Industrial Bank | ​ | Bank notes | ​ | P-2 | ​ | - | ​ | BBB | ​ | 6,615
Ping An Bank | ​ | Bank notes | ​ | P-2 | ​ | A-2 | ​ | BB+u | ​ | 8,391
Shanghai Pudong Development Bank Co. Ltd | ​ | Bank notes | ​ | P-2 | ​ | A-2 | ​ | BBB | ​ | 7,905
China Development Bank | ​ | Bank notes | ​ | A1 | ​ | A-1 | ​ | F1+u | ​ | 16,807
Postal Savings Bank of China | ​ | Bank notes | ​ | - | ​ | A-1 | ​ | A+ | ​ | 4,718
KEB Hana Bank (China) | ​ | Bank notes | ​ | P-1 | ​ | A-1 | ​ | F1+ | ​ | 1,121
Total |  |  |  |  |  |  |  |  |  | 98,085
​
Schedule of credit quality of financial assets | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | As of
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | December 31,
Financial institution | ​ | Financial assets | ​ | Rating | ​ | 2022
​ |  | ​ |  | Moody´s |  | S&P |  | Fitch |  | ThUS$
Banco crédito e Inversiones | ​ | Time deposits | ​ | - | ​ | A-2 | ​ | F2 | ​ | 150,578
Banco Itaú Corpbanca |  | Time deposits |  | P-2 |  | A-2 |  | - |  | 284,915
Banco Santander – Santiago |  | Time deposits |  | P-1 |  | A-2 |  | - |  | 124,689
Scotiabank Chile |  | Time deposits |  | - |  | - |  | F1+ |  | 416,026
Sumitomo Mitsui Banking |  | Time deposits |  | P-1 |  | - |  | - |  | 122,631
Banco de Chile |  | Time deposits |  | - |  | A-1 |  | - |  | 602
JP Morgan US Dollar liquidity Fund Institucional | ​ | Investment fund | ​ | Aaa-mf | ​ | AAAm | ​ | AAAmmf | ​ | 435,485
Legg Mason - Western Asset Institutional cash reserves |  | Investment fund |  | - |  | AAAm |  | AAAmmf |  | 590,661
Total |  |  |  |  |  |  |  |  |  | 2,125,587
Banco crédito e Inversiones | ​ | Time deposits | ​ | - | ​ | A-2 | ​ | F2 | ​ | 187,707
Banco Itaú Corpbanca |  | Time deposits |  | P-2 |  | A-2 |  | - |  | 15,048
Banco Santander - Santiago | ​ | Time deposits | ​ | P-1 | ​ | A-2 | ​ | - | ​ | 51,444
Banco Estado |  | Time deposits |  | P-1 |  | A-1 |  | - |  | 85,055
Scotiabank Chile |  | Time deposits |  | - |  | - |  | F1+ |  | 250,362
Banco de Chile |  | Time deposits |  | - |  | A-1 |  | - |  | 150,259
Sumitomo Mitsui Banking | ​ | Time deposits | ​ | P-1 | ​ | - | ​ | - | ​ | 210,292
Total |  |  |  |  |  |  |  |  |  | 950,167
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | As of
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | December 31,
Financial institution | ​ | Financial assets | ​ | Rating | ​ | 2021
​ |  | ​ |  | Moody´s |  | S&P |  | Fitch |  | ThUS$
Banco crédito e Inversiones | ​ | Time deposits | ​ | P-1 | ​ | A-2 | ​ | F2- | ​ | 9,752
Banco Itaú Corpbanca |  | Time deposits |  | P-2 |  | A-2 |  | - |  | 8,001
Banco Santander – Santiago |  | Time deposits |  | P-1 |  | A-2 |  | - |  | 9,052
Scotiabank Sud Americano |  | Time deposits |  | P-1 |  | A-1 |  | F1+ |  | 10,750
Other banks |  | Time deposits |  | - |  | - |  | F1+ |  | 200,100
JP Morgan US dollar Liquidity Fund Institutional |  | Investment fund |  | Aaa-mf |  | AAAm |  | AAAmmf |  | 381,297
Legg Mason - Western Asset Institutional cash reserves |  | Investment fund |  | - |  | AAAm |  | AAAmmf |  | 233,648
Total |  |  |  |  |  |  |  |  |  | 852,600
Banco crédito e Inversiones | ​ | Time deposits | ​ | P-1 | ​ | A-2 | ​ | - | ​ | 34,325
Banco Itaú Corpbanca |  | Time deposits |  | P-2 |  | A-2 |  | - |  | 195,471
Banco Santander - Santiago |  | Time deposits |  | P-1 |  | A-2 |  | - |  | 65,899
Scotiabank Sud Americano |  | Time deposits |  | P-1 |  | A-1 |  | F1+ |  | 289,421
Sumitomo Mitsui Banking |  | Time deposits |  | P-1 |  | - |  | F1 |  | 320,054
Total |  |  |  |  |  |  |  |  |  | 905,170
​ ​
Schedule of derivative contracts | These derivative contracts are held with domestic and foreign banks, which have the following credit ratings as of December 31, 2022. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Financial institution | ​ | Financial assets | ​ | Rating
​ |  | ​ |  | Moody´s |  | S&P |  | Fitch
Banco Estado | ​ | Derivative | ​ | P-1 | ​ | A-1 | ​ | -
Merrill Lynch International |  | Derivative |  | - |  | A-1 |  | -
JP Morgan | ​ | Derivative | ​ | P-1 | ​ | A-2 | ​ | F1+
Morgan Stanley |  | Derivative |  | P-1 |  | A-2 |  | F1
The Bank of Nova Scotia |  | Derivative |  | P-1 |  | A-1 |  | F1+
Banco Itaú-Corpbanca |  | Derivative |  | P-2 |  | A-2 |  | -
Goldman Sachs |  | Derivative |  | P-1 |  | A-2 |  | F1
​
Schedule of cash and cash equivalents | Cash and cash equivalents are invested in highly liquid mutual funds with an AAA risk rating.
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Nature of undiscounted cash flows
As of December 31, 2022 | ​ | Carrying | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(figures expressed in millions of US dollars) |  | amount |  | Less than 1 year |  | 1 to 5 years |  | Over 5 years |  | Total
Bank borrowings | ​ | 330.80 | ​ | 144.83 | ​ | 220.33 | ​ | — | ​ | 365.16
Unsecured obligations |  | 2,550.60 |  | 405.17 |  | 616.66 |  | 2,935.15 |  | 3,956.98
Sub total |  | 2,881.40 |  | 550.00 |  | 836.99 |  | 2,935.15 |  | 4,322.14
Hedging liabilities |  | 62.53 |  | 40.76 |  | 20.43 |  | 12.68 |  | 73.87
Derivative financial instruments |  | 5.82 |  | 5.82 |  | — |  | — |  | 5.82
Sub total |  | 68.35 |  | 46.58 |  | 20.43 |  | 12.68 |  | 79.69
Current and non-current lease liabilities |  | 61.73 |  | 13.94 |  | 36.33 |  | 27.85 |  | 78.12
Trade accounts payable and other accounts payable |  | 374.79 |  | 374.79 |  | — |  | — |  | 374.79
Total |  | 3,386.27 |  | 985.31 |  | 893.75 |  | 2,975.68 |  | 4,854.74
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Nature of undiscounted cash flows
As of December 31, 2021 | ​ | Carrying | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(figures expressed in millions of US dollars) |  | amount |  | Less than 1 year |  | 1 to 5 years |  | Over 5 years |  | Total
Bank borrowings | ​ | 70.08 | ​ | 1.05 | ​ | 70.64 | ​ | — | ​ | 71.69
Unsecured obligations |  | 2,518.64 |  | 108.06 |  | 924.03 |  | 2,980.91 |  | 4,013.00
Sub total |  | 2,588.72 |  | 109.11 |  | 994.67 |  | 2,980.91 |  | 4,084.69
Hedging liabilities |  | 85.25 |  | 12.38 |  | 31.58 |  | 39.70 |  | 83.66
Derivative financial instruments |  | 1.67 |  | 1.67 |  | — |  | — |  | 1.67
Sub total |  | 86.92 |  | 14.05 |  | 31.58 |  | 39.70 |  | 85.33
Current and non-current lease liabilities |  | 54.22 |  | 8.88 |  | 30.97 |  | 29.08 |  | 68.93
Trade accounts payable and other accounts payable |  | 279.65 |  | 279.65 |  | — |  | — |  | 279.65
Total |  | 3,009.51 |  | 411.69 |  | 1,057.22 |  | 3,049.69 |  | 4,518.60
​

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