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Disclosures on equity (Tables)

12 Months Ended

Dec. 31, 2022

Disclosures on equity

Schedule of controls capital management

The Company’s management controls capital management based on the following ratios:

​	​	​	​	​	​	​	​	​
​		As of December 31,		As of December 31,		​		​
Capital Management	​	2022	​	2021	​	Description (1)	​	Calculation (1)
Net Financial Debt (ThUS$)		(721,980)		204,692		Financial Debt – Financial Resources		Other current Financial Liabilities + Other Non-Current Financial Liabilities– Cash and Cash Equivalents – Other Current Financial Assets – Hedging Assets, non-current
Liquidity		2.29		4.62		Current Assets divided by Current Liabilities		Total Current Assets / Total Current Liabilities
ROE		79.37	%	18.41	%	Profit for the year divided by Total Equity		Profit for the year / Equity
Adjusted EBITDA (ThUS$)		5,838,439		1,185,453		Adjusted EBITDA		EBITDA – Other income – Other gains (losses) - Share of Profit of associates and joint ventures accounted for using the equity method + Other expenses by function + Net impairment gains on reversal (losses) of financial assets – Finance income – Currency differences.
EBITDA (ThUS$)		5,817,605		1,140,086		EBITDA		Profit (loss) + Depreciation and Amortization Expense adjustments + Finance Costs + Income Tax
ROA		78.61	%	21.29	%	Adjusted EBITDA – Depreciation divided by Total Assets net of financial resources less related parties’ investments		(Gross Profit – Administrative Expenses)/ (Total Assets – Cash and Cash Equivalents – Other Current Financial Assets – Other Non-Current Financial Assets – Equity accounted Investments) (LTM)
Indebtedness		(0.15)		0.06		Net Financial Debt on Equity		Net Financial Debt / Total Equity

Schedule of financial restrictions

The financial restrictions with respect to the bonds issued by the Company for the periods ended December 31, 2022 and 2021 are as follows.

​	​	​	​	​	​	​	​	​
​		Financial restrictions (member)
​		Financial		Financial		Financial		Financial
​	​	restrictions	​	restrictions	​	restrictions	​	restrictions
As of December 31, 2022	​	(member)	​	(member)	​	(member)	​	(member)
Instrument with restriction	​	Bonds		Bonds		Bonds		Bank loans
Reporting party or subsidiary restriction	​
Creditor	​	Bondholders		Bondholders		Bondholders		Scotiabank
Registration number	​	H		Q		O		PB 70M
Name of financial indicator or ratio (See definition in Note 20.1)	​	NFD/Equity		NFD/Equity		NFD/Equity		NFD/Equity
Measurement frequency	​	Quarterly		Quarterly		Quarterly		Quarterly
Restriction (Range, value and unit of measure)	​	Must be less than 1.00		Must be less than 1.00		Must be less than 1.00		Must be less than 1.00
Indicator or ratio determined by the company	​	-0.15		-0.15		-0.15		-0.15
Fulfilled YES/NO	​	yes		yes		yes		yes

​

​	​	​	​	​	​	​	​	​
​	​	Financial restrictions (member)
​	​	Financial	​	Financial	​	Financial	​	Financial
​	​	restrictions	​	restrictions	​	restrictions	​	restrictions
As of December 31, 2021		(member)		(member)		(member)		(member)
Instrument with restriction	​	Bonds		Bonds		Bonds		Bank loans
Reporting party or subsidiary restriction	​
Creditor	​	Bondholders		Bondholders		Bondholders		Scotiabank
Registration number	​	H		Q		O		PB 70M
Name of financial indicator or ratio (See definition in Note 20.1)	​	NFD/Equity		NFD/Equity		NFD/Equity		NFD/Equity
Measurement frequency	​	Quarterly		Quarterly		Quarterly		Quarterly
Restriction (Range, value and unit of measure)	​	Must be less than 1.00		Must be less than 1.00		Must be less than 1.00		Must be less than 1.00
Indicator or ratio determined by the company	​	0.06		0.06		0.06		0.06
Fulfilled YES/NO	​	yes		yes		yes		yes

Schedule of share issues

As of December 31, 2022, the Company has placed share issues in the market as described in note 1.6:

​	​	​	​	​	​	​	​	​	​	​	​	​
​	​	As of December 31, 2022			​	As of December 31, 2021				As of December 31, 2020
Type of capital in preferred shares		Series A		Series B		Series A		Series B		Series A		Series B
Description of type of capital in shares									​
Number of authorized shares		142,819,552		142,818,904		142,819,552		142,818,904	​	142,819,552		120,376,972
Number of fully subscribed and paid shares		142,819,552		142,818,904		142,819,552		142,818,904	​	142,819,552		120,376,972
Number of subscribed, partially paid shares		—		—		—		—	​	—		—
Increase (decrease) in the number of current shares		—		—		—		—	​	—		—
Number of outstanding shares		142,818,904		142,818,904		142,818,904		142,818,904	​	142,819,552		120,376,972
Number of shares owned by the Company or its subsidiaries or associates		648		—		648		—	​	—		—
Number of shares whose issuance is reserved due to the existence of options or agreements to dispose shares		—		—		—		—	​	—		—
Capital amount in shares ThUS$		134,750	​	1,442,893		134,750	​	1,442,893	​	134,750	​	342,636
Total number of subscribed shares		142,819,552		142,818,904		142,819,552		142,818,904	​	142,819,552		120,376,972

​

19.4Disclosures on reserves in Equity and non-controlling interests

As of December 31, 2022, 2021 and 2020, this caption comprises the following:

​	​	​	​	​	​	​
​		As of		As of		As of
​	​	December 31,	​	December 31,	​	December 31,
Disclosures on reserves in equity	​	2022	​	2021	​	2020
​	​	ThUS$	​	ThUS$	​	ThUS$
Reserve for currency exchange conversion (1)		(8,042)		(7,913)		(11,569)
Reserve for cash flow hedges (2)		(14,575)		(34,025)		4,491
Reserve for gains and losses from financial assets measured at fair value through other comprehensive income (3)		(10,973)		(11,146)		6,872
Reserve for actuarial gains or losses in defined benefit plans (4)		(9,198)		(4,174)		(8,680)
Other reserves		11,663		13,103		16,318
Total		(31,125)		(44,155)		7,432

(1) This balance reflects retained earnings for changes in the exchange rate when converting the financial statements of subsidiaries whose functional currency is different from the US dollar.

(2) The Company maintains, as hedge instruments, financial derivatives related to obligations with the public issued in UF and Chilean pesos, Changes from the fair value of derivatives designated and classified as hedges are recognized under this classification.

(3) This caption includes the fair value of equity investments that are not held for trading and that the group has irrevocably opted to recognize in this category upon initial recognition. In the event that such equity instruments are fully or partially disposed of, the proportional accumulated effect of accumulated fair value will be transferred to retained earnings.

(4) This caption reflects the effects of changes in actuarial assumptions, mainly changes in the discount rate.

Schedule of movement in other reserves

Movements in other reserves and changes in interest were as follows:

​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
​	​	Foreign	​	​	​	​	​	​	​	​	​	Reserve for gains (losses)			​	​	​	​	​	​	​	​
​	​	currency	​	​	​	​	​	​	​	​	​	from financial assets			​	​	​	​	​	​	​	​
​	​	translation	​	​	​	​	​	Reserve for actuarial gains			​	measured at fair value			​	​	​	​	​	​	​	​
​	​	difference	​	Reserve for cash flow			​	and losses from defined			​	through other			​	Other	​	​	​	​	​	​
​	​	(1)	​	hedges			​	benefit plans			​	comprehensive income			​	reserves	​	Total reserves
​		Before		Before		​		Before		Deferred		Before		Deferred		Before		​		Deferred		Total
Movements	​	taxes	​	taxes	​	Tax	​	taxes	​	taxes	​	Taxes	​	taxes	​	taxes	​	Reserves	​	taxes	​	reserves
​	​	ThUS$	​	ThUS$	​	ThUS$	​	ThUS$	​	ThUS$	​	ThUS$	​	ThUS$	​	ThUS$	​	ThUS$	​	ThUS$	​	ThUS$
Opening balance as of January 1, 2020		(25,745)		9,879		(2,683)		(11,482)		1,992		392		(662)		14,086		(12,870)		(1,353)		(14,223)
Movement of reserves		(404)		(461)		1,001		955		(145)		9,784		(2,642)		2,537		9,166		(1,786)		7,380
Reclassification adjustments		14,580		(3,245)		—		—		—		—		—		(305)		14,275		—		14,275
Closing balance as of December 31, 2020		(11,569)		6,173		(1,682)		(10,527)		1,847		10,176		(3,304)		16,318		10,571		(3,139)		7,432
Movement of reserves		4,046		(66,051)		14,246		4,648		(142)		(12,072)		3,818		134		(56,006)		17,922		(38,084)
Reclassification adjustments		(390)		13,289		—		—		—		—		—		(3,349)		(3,739)		—		(3,739)
Reclassification to retained earnings		—		—		—		—		—		(13,375)		3,611		—		(13,375)		3,611		(9,764)
Closing balance as of December 31, 2021		(7,913)		(46,589)		12,564		(5,879)		1,705		(15,271)		4,125		13,103		(62,549)		18,394		(44,155)
Movement of reserves		(129)		36,079		(7,172)		(6,276)		1,252		190		(17)		(985)		28,879		(5,937)		22,942
Reclassification adjustments		—		(9,457)		—		—		—		—		—		(455)		(9,912)		—		(9,912)
Reclassification to retained earnings		—		—		—		—		—		—		—		—		—		—		—
Closing balance as of December 31, 2022		(8,042)		(19,967)		5,392		(12,155)		2,957		(15,081)		4,108		11,663		(43,582)		12,457		(31,125)

(1) See details on reserves for foreign currency translation differences on conversion in Note 23, letter b).

Schedule of legal reserves reported in the individual financial statements of the subsidiaries

​

​	​	​	​	​	​	​
​		As of		As of		As of
​	​	December 31,	​	December 31,	​	December 31,
Subsidiary – Associate	​	2022	​	2021	​	2020
​	​	ThUS$	​	ThUS$	​	ThUS$
SQM Iberian S.A.		9,464		9,464		9,464
SQM Europe NV		1,957		1,957		1,957
Soquimich European holding B.V.		828		828		828
Abu Dhabi Fertilizer Industries WWL		—		455		455
Kore Potash PLC	​	—	​	—	​	3,414
Soquimich Comercial S.A.		(401)		—		—
SQM Vitas Fzco.		85		(38)		(244)
Pavoni & C. Spa		7		7		—
SQM Iberian S.A.		(1,677)		(1,677)		(1,677)
Orcoma Estudios SPA		2,121		2,121		2,121
SQM Industrial S.A.		—		707		—
Others		(721)		(721)		—
Total Other reserves		11,663		13,103		16,318

Schedule of noncontrolling interests

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

% of interests in the

​

Profit (loss) attributable to non-controlling interests for the year ended

​

Equity, non-controlling interests for the year ended

​

Dividends paid to non-controlling interests for the year ended

​

ownership held by non-

As of

As of

​

As of

​

As of

​

As of

​

As of

Subsidiary

​

controlling interests

​

December 31, 2022

December 31, 2021

​

December 31, 2022

​

December 31, 2021

​

December 31, 2022

​

December 31, 2021

​

​

​

​

ThUS$

​

ThUS$

​

ThUS$

​

ThUS$

​

ThUS$

​

ThUS$

SQM Potasio S.A.

0.0000001%

—

​

—

​

—

​

—

​

—

​

—

Ajay SQM Chile S.A.

4900000%

2,415

​

769

​

8,986

​

8,382

​

1,812

​

577

Soquimich Comercial S.A.

​

3936168%

​

5,558

​

5,926

​

26,383

​

26,665

​

5,558

​

11,831

Comercial Agrorama Ltda.

​

3000000%

​

—

​

56

​

—

​

(596)

​

—

​

—

SQM Indonesia S.A.

​

2000000%

​

—

​

—

​

—

​

—

​

—

​

—

SQM Thailand Limited

​

0.00200%

​

—

​

—

​

—

​

—

​

—

​

—

Total

​

​

​

7,973

​

6,751

​

35,369

​

34,451

​

7,370

​

12,408

Schedule of dividends

Dividends discounted from equity from January to December 2022 and 2021 were the following:

​	​	​	​	​	​	​
​		As of		As of		As of
​	​	December 31,	​	December 31,	​	December 31,
Dividends	​	2022	​	2021	​	2020
​	​	ThUS$	​	ThUS$	​	ThUS$
Interim dividend		2,204,229		157,774		44,986
Special dividend		—		399,998		100,000
Dividends payable		—		27,681		4,369
Owners of the Parent		2,204,229		585,453		149,355
Special dividend		—		5,904		5,904
Dividends according to policy		7,369		6,504		4,214
Non-controlling interests		7,369		12,408		10,118
Dividends discounted from equity for the period		2,211,598		597,861		159,473

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