XML 68 R52.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

Disclosures on equity (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Miscellaneous equity [abstract] |
Schedule of controls capital management | The Company’s management controls capital management based on the following ratios:
Capital Management |  | As of December 31, 2023 |  | As of December 31, 2022 |  | Description (1) |  | Calculation (1)
Net Financial Debt/cash (ThUS$) |  | 2,086,717 |  |  | (721,980) |  |  | Financial Debt – Financial Resources |  | Other current Financial Liabilities + Other Non-Current Financial Liabilities– Cash and Cash Equivalents – Other Current Financial Assets – Hedging Assets, non-current
Liquidity |  | 2.33 |  |  | 2.29 |  |  | Current Assets divided by Current Liabilities |  | Total Current Assets / Total Current Liabilities
ROE |  | 20.78 % |  | 79.37 % |  | Net income the year divided by Total Equity |  | Net income the year / Equity
Adjusted EBITDA (ThUS$) |  | 3,180,071 |  |  | 5,838,439 |  |  | 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$) |  | 3,226,202 |  |  | 5,817,605 |  |  | EBITDA |  | Net income + Depreciation and Amortization Expense adjustments + Finance Costs + Income Tax
ROA |  | 35.90 % |  | 78.61 % |  | 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 |  | 0.47 |  |  | (0.15) |  |  | 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, 2023 and 2022 are as follows.
|  | Financial restrictions
As of December 31, 2023 |  | Financial restrictions |  | Financial restrictions |  | Financial restrictions |  | Financial restrictions
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 19.1) |  | 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 |  | Must be less than |  | Must be less than |  | Must be less than
| 1.00 |  | 1.00 |  | 1.00 |  | 1.00
Indicator or ratio determined by the company |  | 0.47 |  | 0.47 |  | 0.47 |  | 0.47
Fulfilled YES/NO |  | yes |  | yes |  | yes |  | yes
|  | Financial restrictions
As of December 31, 2022 |  | Financial restrictions |  | Financial restrictions |  | Financial restrictions |  | Financial restrictions
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 19.1) |  | 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 |  | Must be less than |  | Must be less than |  | Must be less than
| 1.00 |  | 1.00 |  | 1.00 |  | 1.00
Indicator or ratio determined by the company |  | (0.15) |  | (0.15) |  | (0.15) |  | (0.15)
Fulfilled YES/NO |  | yes |  | yes |  | yes |  | yes
Schedule of share issues | Detail of capital classes in shares:
|  | As of December 31, 2023 |  | As of December 31, 2022 |  | As of December 31, 2021
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 |  | 142,818,904
Number of fully subscribed and paid shares |  | 142,819,552 |  | 142,818,904 |  | 142,819,552 |  | 142,818,904 |  | 142,819,552 |  | 142,818,904
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 |  | 142,818,904 |  | 142,818,904
Number of shares owned by the Company or its subsidiaries or associates |  | 648 |  | — |  | 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 |  |  | 1,442,893 |
Total number of subscribed shares |  | 142,819,552 |  | 142,818,904 |  | 142,819,552 |  | 142,818,904 |  | 142,819,552 |  | 142,818,904
As of December 31, 2023, 2022 and 2021, this caption comprises the following:
Disclosure of reserves within shareholders' equity |  | As of December 31, 2023 |  | As of December 31, 2022 |  | As of December 31, 2021
|  | ThUS$ |  | ThUS$ |  | ThUS$
Reserve for currency exchange conversion (1) |  | (4,921) |  |  | (8,042) |  |  | (7,913) |
Reserve for cash flow hedges (2) |  | (930) |  |  | (14,575) |  |  | (34,025) |
Reserve for gains and losses from financial assets measured at fair value through other comprehensive income (3) |  | 122,294 |  |  | (10,973) |  |  | (11,146) |
Reserve for actuarial gains or losses in defined benefit plans (4) |  | (13,454) |  |  | (9,198) |  |  | (4,174) |
Other reserves |  | 11,881 |  |  | 11,663 |  |  | 13,103 |
Total |  | 114,870 |  |  | (31,125) |  |  | (44,155) |
________________________________________________ (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 currency translation difference (1) |  | Reserve for cash flow hedges |  | Reserve for actuarial gains and losses from defined benefit plans |  | Reserve for gains (losses) from financial assets measured at fair value through other comprehensive income |  | Other reserves |  | Total reserves
Movements |  | Before taxes |  | Before taxes |  | Deferred taxes |  | Before taxes |  | Deferred taxes |  | Before Taxes |  | Deferred taxes |  | Before taxes |  | Reserves |  | Deferred taxes |  | Total reserves
|  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$
Opening balance as of January 1, 2021 |  | (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) |  |  | — |  |  | 4,648 |  |  | — |  |  | (12,072) |  |  | — |  |  | 134 |  |  | (69,295) |  |  | — |  |  | (69,295) |
Reclassification adjustments |  | (390) |  |  | 13,289 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (3,349) |  |  | 9,550 |  |  | — |  |  | 9,550 |
Related taxes |  | — |  |  | — |  |  | 14,246 |  |  | — |  |  | (142) |  |  | — |  |  | 3,818 |  |  | — |  |  | — |  |  | 17,922 |  |  | 17,922 |
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 |  |  | — |  |  | (6,276) |  |  | — |  |  | 190 |  |  | — |  |  | (985) |  |  | 28,879 |  |  | — |  |  | 28,879 |
Reclassification adjustments |  | — |  |  | (9,457) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (455) |  |  | (9,912) |  |  | — |  |  | (9,912) |
Related taxes |  | — |  |  | — |  |  | (7,172) |  |  | — |  |  | 1,252 |  |  | — |  |  | (17) |  |  | — |  |  | — |  |  | (5,937) |  |  | (5,937) |
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) |
Movement of reserves |  | 3,121 |  |  | 126 |  |  | — |  |  | (5,836) |  |  | — |  |  | 190,509 |  |  | — |  |  | 218 |  |  | 188,138 |  |  | — |  |  | 188,138 |
Reclassification adjustments |  | — |  |  | 18,566 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 18,566 |  |  | — |  |  | 18,566 |
Related taxes |  | — |  |  | — |  |  | (5,047) |  |  | — |  |  | 1,580 |  |  | — |  |  | (57,242) |  |  | — |  |  | — |  |  | (60,709) |  |  | (60,709) |
Closing balance as of December 31, 2023 |  | (4,921) |  |  | (1,275) |  |  | 345 |  |  | (17,991) |  |  | 4,537 |  |  | 175,428 |  |  | (53,134) |  |  | 11,881 |  |  | 163,122 |  |  | (48,252) |  |  | 114,870 |
________________________________________________ (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 |
Subsidiary – Associate |  | As of December 31, 2023 |  | As of December 31, 2022 |  | As of December 31, 2021
|  | 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 |
Soquimich Comercial S.A. |  | (393) |  |  | (401) |  |  | — |
SQM Vitas Fzco. |  | 85 |  |  | 85 |  |  | (38) |
Pavoni & C. Spa |  | 7 |  |  | 7 |  |  | 7 |
SAS Adionics |  | 116 |  |  | — |  |  | — |
SQM Australia Pty Ltd |  | 94 |  |  | — |  |  | — |
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) |  |  | (721) |
Total Other reserves |  | 11,881 |  |  | 11,663 |  |  | 13,103 |
Schedule of noncontrolling interests |
|  | % of interests in the ownership held by non- controlling interests |  | Net income 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
Subsidiary |  |  | As of December 31, 2023 |  | As of December 31, 2022 |  | As of December 31, 2023 |  | As of December 31, 2022 |  | As of December 31, 2023 |  | As of December 31, 2022
|  |  |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$
SQM Potasio S.A. |  | 0.0000001% |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Ajay SQM Chile S.A. |  | 49.00000% |  | 3,238 |  |  | 2,415 |  |  | 9,795 |  |  | 8,986 |  |  | 2,428 |  |  | 1,811 |
Soquimich Comercial S.A. |  | 39.36168% |  | 3,838 |  |  | 5,558 |  |  | 26,435 |  |  | 26,383 |  |  | 3,837 |  |  | 5,558 |
Comercial Agrorama Ltda. (1) |  | 30.00000% |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
SQM Indonesia S.A. |  | 20.00000% |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
SQM Thailand Limited |  | 0.00200% |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  |  |  | 7,076 |  |  | 7,973 |  |  | 36,230 |  |  | 35,369 |  |  | 6,265 |  |  | 7,369 |
(1) As of December 31, 2022, a 30% non-controlling interest was acquired by Comercial Hydro S.A., a Company subsidiary.
Schedule of dividends | Dividends discounted from equity from January to December 2023 and 2022 were the following:
Dividends |  | As of December 31, 2023 |  | As of December 31, 2022 |  | As of December 31, 2021
|  | ThUS$ |  | ThUS$ |  | ThUS$
Interim dividend |  | 542,847 |  | 2,204,229 |  | 157,774
Final dividend |  | 920,819 |  | — |  | 399,998
Dividend according to policy |  | 60,953 |  | — |  | 27,681
Owners of the Parent |  | 1,524,619 |  | 2,204,229 |  | 585,453
Dividend eventual |  | — |  | — |  | 5,904
Dividends according to policy |  | 6,266 |  | 7,369 |  | 6,504
Non-controlling interests |  | 6,266 |  | 7,369 |  | 12,408
Dividends discounted from equity for the period |  | 1,530,885 |  | 2,211,598 |  | 597,861

X
- Definition The disclosure of classes of share capital. [Refer: Share capital [member]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 79 -Subparagraph a -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_79_a&doctype=Standard -URIDate 2023-03-23 + Details
Name: | ifrs-full_DisclosureOfClassesOfShareCapitalExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of dividends. Dividends are distributions of profits to holders of equity investments in proportion to their holdings of a particular class of capital. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 10 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_10_e&doctype=Standard -URIDate 2023-03-23 + Details
Name: | ifrs-full_DisclosureOfDividendsExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | ifrs-full_MiscellaneousEquityAbstract
Namespace Prefix: | ifrs-full_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of detailed information about controls capital management. + References No definition available. + Details
Name: | sqm_DisclosureOfDetailedInformationAboutControlsCapitalManagementTableTextBlock
Namespace Prefix: | sqm_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure of detailed information about legal reserves reported in the individual financial statements of the subsidiaries [Text Block] + References No definition available. + Details
Name: | sqm_DisclosureOfDetailedInformationAboutLegalReservesReportedInTheIndividualFinancialStatementsOfTheSubsidiariesTableTextBlock
Namespace Prefix: | sqm_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure of detailed information about movement in other reserves [Text Block] + References No definition available. + Details
Name: | sqm_DisclosureOfDetailedInformationAboutMovementInOtherReservesTableTextBlock
Namespace Prefix: | sqm_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure Of Non-controlling interests Explanatory + References No definition available. + Details
Name: | sqm_DisclosureOfDetailedInformationAboutNonControllingInterestsExplanatoryTableTextBlock
Namespace Prefix: | sqm_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure of financial restrictions explanatory. + References No definition available. + Details
Name: | sqm_DisclosureOfFinancialRestrictionsExplanatoryTableTextBlock
Namespace Prefix: | sqm_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration