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Significant accounting policies (Tables) | 12 Months Ended
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Dec. 31, 2023
Significant Accounting Policies |
Schedule of foreign exchange rates used to translate monetary items | The main exchange rates and UF used to translate monetary assets and liabilities, expressed in foreign currency at the end and average of each period in respect to U.S. dollars, are as follows:
|  | Closing exchange rates |  | Average exchange rates
Currencies |  | As of December 31, 2023 |  | As of December 31, 2022 |  | As of December 31, 2023 |  | As of December 31, 2022
|  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$
Brazilian real |  | 4.85 |  | 5.28 |  | 4.90 |  | 5.25
New Peruvian sol |  | 3.70 |  | 3.81 |  | 3.73 |  | 3.83
Japanese yen |  | 140.90 |  | 131.32 |  | 143.94 |  | 134.70
Euro |  | 0.90 |  | 0.93 |  | 0.92 |  | 0.94
Mexican peso |  | 16.92 |  | 19.50 |  | 17.18 |  | 19.60
Australian dollar |  | 1.46 |  | 1.47 |  | 1.49 |  | 1.48
Pound Sterling |  | 0.78 |  | 0.83 |  | 0.79 |  | 0.82
South African rand |  | 18.27 |  | 17.01 |  | 18.61 |  | 17.28
Chilean peso |  | 877.12 |  | 855.86 |  | 875.06 |  | 873.81
Chinese yuan |  | 7.12 |  | 6.92 |  | 7.15 |  | 6.98
Indian rupee |  | 83.21 |  | 82.73 |  | 83.26 |  | 82.52
Thai Baht |  | 34.36 |  | 34.64 |  | 34.95 |  | 34.76
Turkish lira |  | 29.52 |  | 18.71 |  | 29.09 |  | 18.66
Korean Won |  | 1,290.70 |  | 1,259.98 |  | 1,304.17 |  | 1,291.64
Indonesian Rupiah |  | 15,399.00 |  | 15,570.00 |  | 15,502.63 |  | 15,596.90
United Arab Emirates dirham |  | 3.67 |  | 3.67 |  | 3.67 |  | 3.67
Polish Zloty |  | 3.93 |  | 4.37 |  | 3.97 |  | 4.42
UF (*) |  | 41.94 |  | 41.02 |  | 42.04 |  | 40.18
________________________________________________ (*)US$ per UF
Schedule of other (outflows) inflows of cash from operating activities | Other (outflows) inflows of cash from operating activities is composed as follows:
For the year ended | December 31, 2023 |  | December 31, 2022 |  | December 31, 2021
Banking expenses | (15,603) |  |  | (3,783) |  |  | (1,921) |
Tax credits | (3,353) |  |  | (3,474) |  |  | (2,403) |
Government grants | 24,387 |  |  | — |  |  | — |
Value added tax | (298,076) |  |  | 120,283 |  |  | 80,503 |
Cost of bond issuance | (18,346) |  |  | (2,566) |  |  | (16,570) |
| (310,991) |  | 110,460 |  | 59,609
Schedule of useful lives of property, plant and equipment | The useful lives used for the depreciation and amortization of assets included in property, plant and equipment in years are presented below:
Classes of property, plant and equipment |  | Minimum life or rate (years) |  | Maximum life or rate (years) |  | Life or average rate in years
Mining assets (*) |  | 5 |  | 10 |  | 8
Energy generating assets |  | 5 |  | 16 |  | 8
Buildings |  | 4 |  | 25 |  | 13
Supplies and accessories |  | 4 |  | 15 |  | 8
Office equipment |  | 5 |  | 10 |  | 6
Transport equipment |  | 6 |  | 20 |  | 9
Network and communication equipment |  | 4 |  | 12 |  | 7
IT equipment |  | 4 |  | 11 |  | 7
Machinery, plant and equipment |  | 3 |  | 24 |  | 11
Other fixed assets |  | 3 |  | 20 |  | 9
(*) Mining equipment includes SQM Australia's exploration assets, which are depreciated on a unit of production basis.
Schedule of useful lives of intangible assets | Minimum and maximum amortization lives or rates of intangible assets:
Estimated useful life or amortization rate |  | Minimum Life or Rate |  | Maximum Life or Rate
Water rights |  | 2 years |  | Indefinite
Rights of way |  | Indefinite |  | Indefinite
Corfo Mining properties (1) |  | 7 years |  | 7 years
Mining rights |  | Unit-production method
Intellectual property |  | 9 years |  | 9 years
IT programs |  | 3 years |  | 9 years
________________________________________________ (1)Mining properties owned by Corfo and leased to the Company, which grant it the exclusive right to exploit them until December 31, 2030.
Earnings per share | The basic earnings per share amounts are calculated by dividing the net income for the year attributable to the ordinary owners of the parent by the weighted average number of ordinary shares outstanding during the year.
|  | For the year ended December 31
Earnings per Share |  | 2023 |  | 2022 |  | 2021 |
Net income attributable to the owners of the parent (ThUS$) |  | 923,191,000 |  | 3,906,311,000 |  | 585,454,000 |
Weighted average number of shares |  | 285,638,456 |  | 285,638,456 |  | 278,157,812 |
Basic earnings per share (US$) |  | 3.2320 |  | 13.6757 |  | 2.1048 |
Net income attributable to the owners of the parent (ThUS$) |  | 923,191,000 |  | 3,906,311,000 |  | 585,454,000 |
Weighted average number of shares |  | 285,638,456 |  | 285,638,456 |  | 278,157,812 |
Diluted earnings per share (US$) |  | 3.2320 |  | 13.6757 |  | 2.1048 |
Series A common shares |  | 142,819,552 |  | 142,819,552 |  | 142,819,552 |
Series B common shares |  | 142,818,904 |  | 142,818,904 |  | 135,338,260 |
Total weighted average number of shares |  | 285,638,456 |  | 285,638,456 |  | 278,157,812 |

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