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Financial instruments | 12 Months Ended
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Dec. 31, 2023
Disclosure of detailed information about financial instruments [abstract] |
Financial instruments | Financial instruments 12.1 Types of other current and non-current financial assets
Description of other financial assets |  | As of December 31, 2023 |  | As of December 31, 2022
|  | ThUS$ |  | ThUS$
Financial assets at amortized cost (1) |  | 1,316,797 |  |  | 950,167 |
Derivative financial instruments |  |  |  |
-For hedging |  | 8,527 |  |  | 7,014 |
-Non-hedging (2) |  | 519 |  |  | 4,174 |
Total other current financial assets |  | 1,325,843 |  |  | 961,355 |
Financial assets at fair value through other comprehensive income (4) |  | 232,268 |  |  | 9,497 |
Derivative financial instruments |  |  |  |
-For hedging |  | 15,993 |  |  | 22,606 |
Other financial assets at amortized cost |  | 20 |  |  | 23 |
Total other non-current financial assets |  | 248,281 |  |  | 32,126 |
Institution |  | As of December 31, 2023 |  | As of December 31, 2022
|  | ThUS$ |  | ThUS$
Banco de Crédito e Inversiones |  | 74,459 |  |  | 187,707 |
Banco Morgan Stanley (3) |  | 5,590 |  |  | — |
Banco Santander |  | 100,083 |  |  | 51,444 |
Banco Itau CorpBanca |  | 372,061 |  |  | 15,048 |
Banco Estado |  | — |  |  | 85,055 |
Banco de Chile |  | — |  |  | 150,259 |
Scotiabank Sud Americano |  | 672,720 |  |  | 250,362 |
Sumitomo Mitsui Banking |  | 91,884 |  |  | 210,292 |
Total |  | 1,316,797 |  |  | 950,167 |
________________________________________________ (1)Corresponds to term deposits whose maturity date is greater than 90 days and less than 360 days from the investment date constituted in the aforementioned financial institutions. (2)Correspond to forwards and options that were not classified as hedging instruments (See detail in Note 12.3). (3)As of December 31, 2023, collateral guarantees total ThUS$ 5,590, which are related to hedging derivative instruments.. As of December 31, 2022, there were no collateral guarantees. (4)During the first quarter of 2023, the Company made an investment of ThUS$13,480 to acquire a 19.99% interest in Azure Minerals Limited (a company listed on the Australian Stock Exchange). The Company and Azure have entered into an acquisition agreement under which the Company has the right to choose a director and acquire 25% of all lithium products in which Azure has an interest on commercially competitive market terms. During the third and fourth quarter, the Company invested an additional ThUS$12,904 and ThUS$4,317, respectively, to maintain its ownership interest. As of December 31, 2023, the Company did not exercise significant influence over this entity and therefore this investment has been recognized as a financial instrument at fair value with changes in other comprehensive income on an irrevocable basis. The impact on other comprehensive income amounts to ThUS$135,358, net of tax. 12.2 Trade and other receivables
|  | As of December 31, 2023 |  | As of December 31, 2022
Trade and other receivables |  | Current |  | Non-current |  | Total |  | Current |  | Non-current |  | Total
|  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$
Trade receivables, current |  | 784,422 |  |  | — |  |  | 784,422 |  |  | 1,002,223 |  |  | — |  |  | 1,002,223 |
Prepayments, current |  | 74,630 |  |  | — |  |  | 74,630 |  |  | 38,709 |  |  | — |  |  | 38,709 |
Other receivables, current |  | 18,163 |  |  | 2,559 |  |  | 20,722 |  |  | 16,648 |  |  | 2,091 |  |  | 18,739 |
Guarantee deposits (1) |  | 29,966 |  |  | — |  |  | 29,966 |  |  | 29,840 |  |  | — |  |  | 29,840 |
Total trade and other receivables |  | 907,181 |  |  | 2,559 |  |  | 909,740 |  |  | 1,087,420 |  |  | 2,091 |  |  | 1,089,511 |
See discussion about credit risk in Note 4.2.
|  | As of December 31, 2023 |  | As of December 31, 2022
Trade and other receivables |  | Gross receivables |  | Impairment provision for doubtful receivables |  | Trade receivables, net |  | Gross receivables |  | Impairment provision for doubtful receivables |  | Trade receivables, net
|  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$
Receivables related to credit operations, current |  | 787,667 |  |  | (3,245) |  |  | 784,422 |  |  | 1,006,982 |  |  | (4,759) |  |  | 1,002,223 |
Prepayments, current |  | 75,414 |  |  | (784) |  |  | 74,630 |  |  | 39,493 |  |  | (784) |  |  | 38,709 |
Other receivables, current |  | 21,209 |  |  | (3,046) |  |  | 18,163 |  |  | 19,920 |  |  | (3,272) |  |  | 16,648 |
Guarantee deposits (1) |  | 29,966 |  |  | — |  |  | 29,966 |  |  | 29,840 |  |  | — |  |  | 29,840 |
Other receivables, non-current |  | 2,559 |  |  | — |  |  | 2,559 |  |  | 2,091 |  |  | — |  |  | 2,091 |
Total trade and other receivables |  | 916,815 |  |  | (7,075) |  |  | 909,740 |  |  | 1,098,326 |  |  | (8,815) |  |  | 1,089,511 |
(1)During the third quarter of 2022, the Company signed an agreement for an option to potentially acquire a battery-grade lithium hydroxide monohydrate plant with a production capacity of approximately 20,000 tons per year from lithium sulfate salts. In addition, the transaction secures rights to adjacent land for future expansion. The acquisition cost totals CNY 869 million (ThUS$ 119,575) broken down into a deposit of CNY 204.5 million (ThUS$ 29,322) paid in the first quarter of 2022, The disbursement of the remaining amounts is subject to compliance with various conditions. The Company´s payments would be backed by various guarantees granted by the seller and any failure to fulfil the conditions required by the contract would be considered a material breach of contract, giving the Company the right to demand the restitution of the amounts already paid. As of December 31, 2023, and 2022 the renegotiated portfolio represented 0% of total trade receivables. (a)Impairment provision for doubtful receivables
As of December 31, 2023
|  | Trade accounts receivable days past due |  |  |  |
Trade and other receivables |  | Current |  | 1 to 30 days |  | 31 to 60 days |  | 61 to 90 days |  | Over 90 days |  | Trade |  | Trade receivables due from related parties
|  |  |  |  |  |  |  |  |  |  |  | ThUS$ |  | ThUS$
Expected Loss Rate on |  | 0% |  | 2 | % |  | 7 | % |  | 2 | % |  | 39 | % |  | — |  |  | — |
Total Gross Book Value |  | 758,781 |  |  | 18,732 |  |  | 2,684 |  |  | 3,509 |  |  | 3,961 |  |  | 787,667 |  |  | 44,053 |
Impairment Estimate |  | 1,007 |  |  | 422 |  |  | 197 |  |  | 67 |  |  | 1,552 |  |  | 3,245 |  |  | 800 |
As of December 31, 2022
|  | Trade accounts receivable days past due |  |  |  | Trade receivables due from related parties
Trade and other receivables |  | Current |  | 1 to 30 days |  | 31 to 60 days |  | 61 to 90 days |  | Over 90 days |  | Trade |
|  |  |  |  |  |  |  |  |  |  |  | ThUS$ |  | ThUS$
Expected Loss Rate on |  | 0% |  | 1 | % |  | 7 | % |  | 6 | % |  | 81 | % |  | — |  |  | — |
Total Gross Book Value |  | 968,129 |  |  | 30,187 |  |  | 1,457 |  |  | 3,336 |  |  | 3,873 |  |  | 1,006,982 |  |  | 83,000 |
Impairment Estimate |  | 948 |  |  | 391 |  |  | 108 |  |  | 186 |  |  | 3,126 |  |  | 4,759 |  |  | 1,378 |
As of December 31, 2023, and 2022, movements in provisions are as follows:
Provisions |  | As of December 31, 2023 |  | As of December 31, 2022 | As of December 31, 2021
|  | ThUS$ |  | ThUS$ | ThUS$
Impairment provision of Accounts receivable at the beginning of the year |  | 10,193 |  |  | 14,716 |  | 27,273 |
Increase (decrease) impairment of accounts receivable |  | (202) |  |  | (3,369) |  | 235 |
Write-off of receivables |  | (1,351) |  |  | — |  | (11,091) |
Difference in exchange rate |  | (765) |  |  | (1,154) |  | (1,701) |
Impairment provision of Accounts Receivable Provision at the end of the year |  | 7,875 |  |  | 10,193 |  | 14,716 |
Trade and other Receivables Provision |  | 3,245 |  |  | 4,759 |  | 10,352 |
Current other Receivables Provision |  | 3,830 |  |  | 4,056 |  | 3,647 |
Trade receivables with related parties, current Provision |  | 800 |  |  | 1,378 |  | 717 |
Recovery of Insurrance |  | — |  |  | — |  | 210 |
Impairment provision of Accounts Receivable |  | 7,875 |  |  | 10,193 |  | 14,716 |
12.3 Hedging assets and liabilities The balance represents derivative financial instruments measured at fair value which have been classified as hedges for exchange and interest rate risks relating to the total obligations with the public associated with bonds in UF and investments in Chilean pesos. (See more detail in Note 4.2 b).
As of December 31, 2023 |  | Assets |  | Liabilities |  | Total Realized |  | Hedging Reserve in Gross Equity (1)
Type of Instrument: Cross currency interest rate swaps and Forwards |  |  |  |  |  |  |  |
Cash flow hedge derivatives |  |  |  |  |  |  |  |
Short term |  | 7,038 |  |  | 30,442 |  |  | — |  |  | — |
Long term |  | 15,993 |  |  | 8,368 |  |  | — |  |  | — |
Subtotal |  | 23,031 |  |  | 38,810 |  |  | (13,067) |  |  | (2,712) |
Type of Instrument: Forwards |  |  |  |  |  |  |  |
Non-hedging derivates disbursement SQM Australia Pty |  |  |  |  |  |  |  |
Short term |  | 1,489 |  |  | — |  |  | — |  |  | — |
Long term |  | — |  |  | 52 |  |  | — |  |  | 1,437 |
Subtotal |  | 1,489 |  |  | 52 |  |  | — |  |  | 1,437 |
Underlying Investments Hedge |  | 24,520 |  |  | 38,862 |  |  | (13,067) |  |  | (1,275) |
Type of Instrument: Forwards/Options |  |  |  |  |  |  |  |
Non-hedge derivates with effect on income |  |  |  |  |  |  |  |
Short term |  | 519 |  |  | 14,795 |  |  | — |  |  | — |
Underlying Investments Hedge |  | 519 |  |  | 14,795 |  |  | 5,401 |  |  | — |
Total Instruments |  | 25,039 |  |  | 53,657 |  |  | (7,666) |  |  | (1,275) |
The Company recouponed the CCS with Santander Bank who had hedged the Series Q bond, by moving the UF/USD exchange rate upwards. This change increased the USD value of the bond by ThUS$16,440 and its interest payable. Santander Bank paid the company ThUS$17,320 on August 18, 2023 in exchange for this amendment.
As of December 31, 2022 |  | Assets |  | Liabilities |  | Total Realized |  | Hedging Reserve in Gross Equity (1)
Type of Instrument: Cross currency interest rate swaps and Forwards |  |  |  |  |  |  |  |
Cash flow hedge derivatives |  |  |  |  |  |  |  |
Short term |  | 7,014 |  |  | 42,754 |  |  | — |  |  | — |
Long term |  | 15,467 |  |  | 19,772 |  |  | — |  |  | — |
Subtotal |  | 22,481 |  |  | 62,526 |  |  | (12,939) |  |  | (27,106) |
Type of Instrument: Forwards |  |  |  |  |  |  |  |
Non-hedging derivates disbursement SQM Australia Pty |  |  |  |  |  |  |  |
Long term |  | 7,139 |  |  | — |  |  | — |  |  | 7,139 |
Subtotal |  | 7,139 |  |  | — |  |  | — |  |  | 7,139 |
Underlying Investments Hedge |  | 29,620 |  |  | 62,526 |  |  | (12,939) |  |  | (19,967) |
Type of Instrument: Forwards/Options |  |  |  |  |  |  |  |
Non-hedge derivates with effect on income |  |  |  |  |  |  |  |
Short term |  | 4,174 |  |  | 5,816 |  |  | — |  |  | — |
Underlying Investments Hedge |  | 4,174 |  |  | 5,816 |  |  | 38,653 |  |  | — |
Total Instruments |  | 33,794 |  |  | 68,342 |  |  | 25,714 |  |  | (19,967) |
________________________________________________ (1)See underlying hedges in Note 4.2 letters b) and d) and movement of cash flow hedge reserve in Note 19.4. The balances in the column “Total Realized” consider the intermediate effects of the contracts that were in place between January 1 and December 31, 2023, and January 1 and December 31, 2022.
Reconciliation of asset and liability hedging derivatives |  | As of December 31, 2022 |  | Cash Flow |  | Income Statement |  | Equity and Others |  | As of December 31, 2023
Hedge-to-debt derivatives |  | (10,061) |  |  | (14,850) |  |  | 6,631 |  |  | 20,800 |  |  | 2,520 |
Hedging derivatives to investment |  | (29,984) |  |  | (10,082) |  |  | 18,171 |  |  | 3,595 |  |  | (18,300) |
Non-hedging derivatives disbursement SQM Australia Pty asset |  | 7,139 |  |  | 1,183 |  |  | (1,183) |  |  | (5,702) |  |  | 1,437 |
Non-hedging derivatives |  | (1,642) |  |  | (18,034) |  |  | 5,401 |  |  | — |  |  | (14,275) |
Reconciliation of asset and liability hedging derivatives |  | As of December 31, 2021 |  | Cash Flow |  | Income Statement |  | Equity and Others |  | As of December 31, 2022
Hedge-to-debt derivatives |  | (81,597) |  |  | 8,616 |  |  | 37,494 |  |  | 25,426 |  |  | (10,061) |
Hedging derivatives to investment |  | 12,613 |  |  | (52,698) |  |  | 16,104 |  |  | (6,003) |  |  | (29,984) |
Non-hedging derivatives disbursement SQM Australia Pty asset |  | — |  |  | 2,022 |  |  | — |  |  | 5,117 |  |  | 7,139 |
Non-hedging derivatives |  | (418) |  |  | (39,878) |  |  | 38,653 |  |  | — |  |  | (1,642) |
Derivative contract maturities are detailed as follows:
Series |  | Contract amount |  | Currency |  | Maturity date
|  | ThUS$ |  |  |  |
H |  | 91,718 |  |  | UF |  | 01/05/2024
O |  | 58,748 |  |  | UF |  | 02/01/2030
P |  | 134,228 |  |  | UF |  | 01/15/2028
Q |  | 123,370 |  |  | UF |  | 06/01/2030
Effectiveness The Company uses CCS, Forwards and IRS to hedge the potential financial risk associated with exchange rate and interest rate volatility. The objective is to hedge the exchange rate and inflation financial risks associated with bond obligations, exchange rate financial risks associated with investments in Chilean pesos, exchange rate financial risk associated with projects under construction in Australian dollars and interest rate financial risk associated with bank loans. Hedges are documented and qualitatively assessed to demonstrate their effectiveness based on a comparison of their critical terms. The hedges used by the Company as of the reporting date are highly effective given that the amounts, currencies, exchange dates and rates of the hedged item and the hedge are aligned, maintaining a close economic relationship. 12.4 Financial liabilities Other current and non-current financial liabilities As of December 31, 2023, and 2022, the detail is as follows:
|  | As of December 31, 2023 |  | As of December 31, 2022
Other current and non-current financial liabilities |  | Currents |  | Non-Current |  | Total |  | Currents |  | Non-Current |  | Total
|  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$
Liabilities at amortized cost |  |  |  |  |  |  |  |  |  |  |  |
Bank borrowings |  | 1,164,262 |  |  | 295,518 |  |  | 1,459,780 |  |  | 130,840 |  |  | 197,522 |  |  | 328,362 |
Unsecured obligations |  | 46,999 |  |  | 2,909,485 |  |  | 2,956,484 |  |  | 343,589 |  |  | 2,176,924 |  |  | 2,520,513 |
Derivative financial instruments |  |  |  |  |  |  |  |  |  |  |  |
For hedging |  | 30,443 |  |  | 8,419 |  |  | 38,862 |  |  | 42,754 |  |  | 19,772 |  |  | 62,526 |
Non-Hedging |  | 14,795 |  |  | — |  |  | 14,795 |  |  | 5,816 |  |  | — |  |  | 5,816 |
Total |  | 1,256,499 |  |  | 3,213,422 |  |  | 4,469,921 |  |  | 522,999 |  |  | 2,394,218 |  |  | 2,917,217 |
a)Bank borrowings, current: As of December 31, 2023, the detail of this caption is as follows:
Debtor |  | Creditor |  | Currency or adjustment index |  |  |  |  |  |  |  |  |
Tax ID No |  | Company |  | Country |  | Tax ID No. |  | Financial institution |  | Country |  |  | Repayment |  |  | maturity |  | Effective rate |  | Nominal rate
93.007.000-9 |  | SQM S.A. |  | Chile |  | O-E |  | Bank of Nova Scotia |  | United States of America |  | Dollar |  | Upon maturity |  |  | 06/21/2024 |  | 5.88 | % |  | 6.64 | %
93.007.000-9 |  | SQM S.A. |  | Chile |  | O-E |  | Banco Santander/Kexim |  | Spain/South Korea |  | Dollar |  | Upon maturity |  |  | 06/21/2024 |  | 4.49 | % |  | 6.36 | %
93.007.000-9 |  | SQM S.A. |  | Chile |  | 97.043.000-8 |  | JP Morgan |  | Chile |  | Dollar |  | Upon maturity |  |  | 05/28/2024 |  | 6.69 | % |  | 6.69 | %
93.007.000-9 |  | SQM S.A. |  | Chile |  | 97.036.000-K |  | Banco Santander |  | Chile |  | Dollar |  | Upon maturity |  |  | 05/17/2024 |  | 5.95 | % |  | 5.95 | %
93.007.000-9 |  | SQM S.A. |  | Chile |  | 97.036.000-K |  | Banco Santander |  | Chile |  | Dollar |  | Upon maturity |  |  | 08/26/2024 |  | 6.88 | % |  | 6.88 | %
93.007.000-9 |  | SQM S.A. |  | Chile |  | 97.018.000-1 |  | Scotiabank Chile |  | Chile |  | Dollar |  | Upon maturity |  |  | 05/30/2024 |  | 6.19 | % |  | 6.19 | %
93.007.000-9 |  | SQM S.A. |  | Chile |  | 97.030.000-7 |  | Banco Estado |  | Chile |  | Dollar |  | Upon maturity |  |  | 02/20/2024 |  | 6.18 | % |  | 6.18 | %
93.007.000-9 |  | SQM S.A. |  | Chile |  | 97.030.000-7 |  | Banco Estado |  | Chile |  | Dollar |  | Upon maturity |  |  | 06/10/2024 |  | 6.19 | % |  | 6.19 | %
93.007.000-9 |  | SQM S.A. |  | Chile |  | 97.006.000-6 |  | BCI |  | Chile |  | Dollar |  | Upon maturity |  |  | 04/18/2024 |  | 6.01 | % |  | 6.01 | %
93.007.000-9 |  | SQM S.A. |  | Chile |  | 97.006.000-6 |  | BCI |  | Chile |  | Dollar |  | Upon maturity |  |  | 10/17/2024 |  | 5.84 | % |  | 6.46 | %
93.007.000-9 |  | SQM S.A. |  | Chile |  | 97.006.000-6 |  | BCI |  | Chile |  | Dollar |  | Upon maturity |  |  | 05/24/2024 |  | 6.17 | % |  | 6.17 | %
93.007.000-9 |  | SQM S.A. |  | Chile |  | 97.023.000-9 |  | Banco Itau |  | Chile |  | Dollar |  | Upon maturity |  |  | 07/05/2024 |  | 6.50 | % |  | 6.50 | %
79.947.100-0 |  | SQM Industrial S.A. |  | Chile |  | 97.004.000-5 |  | Banco de Chile |  | Chile |  | Dollar |  | Upon maturity |  |  | 05/16/2024 |  | 5.85 | % |  | 5.85 | %
79.947.100-0 |  | SQM Industrial S.A. |  | Chile |  | 97.023.000-9 |  | Banco Itau |  | Chile |  | Dollar |  | Upon maturity |  |  | 07/05/2024 |  | 6.50 | % |  | 6.50 | %
79.626.800-K |  | SQM Salar S.A. |  | Chile |  | 97.023.000-9 |  | Banco Itau |  | Chile |  | Dollar |  | Upon maturity |  |  | 07/05/2024 |  | 6.50 | % |  | 6.50 | %
79.626.800-K |  | SQM Salar S.A. |  | Chile |  | 97.023.000-9 |  | Banco Itau |  | Chile |  | Dollar |  | Upon maturity |  |  | 07/05/2024 |  | 6.50 | % |  | 6.50 | %
79.626.800-K |  | SQM Salar S.A. |  | Chile |  | 97.018.000-1 |  | Scotiabank Chile |  | Chile |  | Dollar |  | Upon maturity |  |  | 05/17/2024 |  | 6.07 | % |  | 6.07 | %
79.626.800-K |  | SQM Salar S.A. |  | Chile |  | 97.018.000-1 |  | Scotiabank Chile |  | Chile |  | Dollar |  | Upon maturity |  |  | 05/30/2024 |  | 6.19 | % |  | 6.19 | %
79.626.800-K |  | SQM Salar S.A. |  | Chile |  | 97.030.000-7 |  | Banco Estado |  | Chile |  | Dollar |  | Upon maturity |  |  | 07/18/2024 |  | 5.92 | % |  | 6.15 | %
79.626.800-K |  | SQM Salar S.A. |  | Chile |  | 97.030.000-7 |  | Banco Estado |  | Chile |  | Dollar |  | Upon maturity |  |  | 06/10/2024 |  | 6.19 | % |  | 6.19 | %
79.626.800-K |  | SQM Salar S.A. |  | Chile |  | 97.004.000-5 |  | Banco de Chile |  | Chile |  | Dollar |  | Upon maturity |  |  | 05/16/2024 |  | 5.85 | % |  | 5.85 | %
79.626.800-K |  | SQM Salar S.A. |  | Chile |  | 97.004.000-5 |  | Banco de Chile |  | Chile |  | Dollar |  | Upon maturity |  |  | 06/21/2024 |  | 6.25 | % |  | 6.25 | %
Debtor |  | Creditor |  | Nominal amounts as of December 31, 2023 |  | Current amounts as of December 31, 2023
Company |  | Financial institution |  | Up to 90 days |  | 90 days to 1 year |  | Total |  | Up to 90 days |  | 90 days to 1 year |  | Subtotal |  | Borrowing costs |  | Total
|  |  |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$
SQM S.A. |  | Bank of Nova Scotia |  | — |  |  | — |  |  | — |  |  | — |  |  | 406 |  |  | 406 |  |  | — |  |  | 406 |
SQM S.A. |  | Banco Santander |  | — |  |  | 120,000 |  |  | 120,000 |  |  | — |  |  | 124,383 |  |  | 124,383 |  |  | — |  |  | 124,383 |
SQM S.A. |  | Banco Santander |  | — |  |  | 200,000 |  |  | 200,000 |  |  | — |  |  | 204,625 |  |  | 204,625 |  |  | — |  |  | 204,625 |
SQM S.A. |  | Banco JP Morgan |  | — |  |  | 50,000 |  |  | 50,000 |  |  | — |  |  | 50,288 |  |  | 50,288 |  |  | — |  |  | 50,288 |
SQM S.A. |  | Banco Santander/Kexim |  | — |  |  | — |  |  | — |  |  | — |  |  | 177 |  |  | 177 |  |  | — |  |  | 177 |
SQM S.A. |  | Scotiabank Chile |  | — |  |  | 25,000 |  |  | 25,000 |  |  | — |  |  | 25,898 |  |  | 25,898 |  |  | — |  |  | 25,898 |
SQM S.A. |  | Banco Estado |  | 15,000 |  |  | — |  |  | 15,000 |  |  | 15,569 |  |  | — |  |  | 15,569 |  |  | — |  |  | 15,569 |
SQM S.A. |  | Banco Estado |  | — |  |  | 20,000 |  |  | 20,000 |  |  | — |  |  | 20,695 |  |  | 20,695 |  |  | — |  |  | 20,695 |
SQM S.A. |  | BCI |  | — |  |  | 100,000 |  |  | 100,000 |  |  | — |  |  | 104,176 |  |  | 104,176 |  |  | — |  |  | 104,176 |
SQM S.A. |  | BCI |  | — |  |  | 100,000 |  |  | 100,000 |  |  | — |  |  | 101,238 |  |  | 101,238 |  |  | — |  |  | 101,238 |
SQM S.A. |  | BCI |  | — |  |  | 50,000 |  |  | 50,000 |  |  | — |  |  | 51,825 |  |  | 51,825 |  |  | — |  |  | 51,825 |
SQM S.A. |  | Banco Itau |  | — |  |  | 10,000 |  |  | 10,000 |  |  | — |  |  | 10,309 |  |  | 10,309 |  |  | — |  |  | 10,309 |
SQM Industrial S.A. |  | Banco de Chile |  | — |  |  | 30,000 |  |  | 30,000 |  |  | — |  |  | 31,077 |  |  | 31,077 |  |  | — |  |  | 31,077 |
SQM Industrial S.A. |  | Banco Itau |  | — |  |  | 20,000 |  |  | 20,000 |  |  | — |  |  | 20,618 |  |  | 20,618 |  |  | — |  |  | 20,618 |
SQM Salar S.A. |  | Banco Itau |  | — |  |  | 10,000 |  |  | 10,000 |  |  | — |  |  | 10,311 |  |  | 10,311 |  |  | — |  |  | 10,311 |
SQM Salar S.A. |  | Banco Itau |  | — |  |  | 20,000 |  |  | 20,000 |  |  | — |  |  | 20,618 |  |  | 20,618 |  |  | — |  |  | 20,618 |
SQM Salar S.A. |  | Scotiabank Chile |  | — |  |  | 50,000 |  |  | 50,000 |  |  | — |  |  | 51,864 |  |  | 51,864 |  |  | — |  |  | 51,864 |
SQM Salar S.A. |  | Scotiabank Chile |  | — |  |  | 50,000 |  |  | 50,000 |  |  | — |  |  | 51,797 |  |  | 51,797 |  |  | — |  |  | 51,797 |
SQM Salar S.A. |  | Banco Estado |  | — |  |  | 70,000 |  |  | 70,000 |  |  | — |  |  | 71,913 |  |  | 71,913 |  |  | — |  |  | 71,913 |
SQM Salar S.A. |  | Banco Estado |  | — |  |  | 80,000 |  |  | 80,000 |  |  | — |  |  | 82,779 |  |  | 82,779 |  |  | — |  |  | 82,779 |
SQM Salar S.A. |  | Banco de Chile |  | — |  |  | 40,000 |  |  | 40,000 |  |  | — |  |  | 41,436 |  |  | 41,436 |  |  | — |  |  | 41,436 |
SQM Salar S.A. |  | Banco de Chile |  | — |  |  | 70,000 |  |  | 70,000 |  |  | — |  |  | 72,260 |  |  | 72,260 |  |  | — |  |  | 72,260 |
Total |  |  |  | 15,000 |  |  | 1,115,000 |  |  | 1,130,000 |  |  | 15,569 |  |  | 1,148,693 |  |  | 1,164,262 |  |  | — |  |  | 1,164,262 |
As of December 31, 2022
Debtor |  | Creditor |  | Currency or adjustment index |  |  |  |  |  |  |  |  |
Tax ID No |  | Company |  | Country |  | Tax ID No. |  | Financial institution |  | Country |  |  | Repayment |  |  | maturity |  | Effective rate |  | Nominal rate
93.007.000-9 |  | SQM S.A. |  | Chile |  | O-E |  | Scotiabank Cayman |  | United States of America |  | Dollar |  | Upon maturity |  |  | 05/30/2023 |  | 0.97 | % |  | 5.22 | %
93.007.000-9 |  | SQM S.A. |  | Chile |  | 97.023.000-9 |  | Banco Itau |  | Chile |  | Dollar |  | Upon maturity |  |  | 01/05/2023 |  | 4.50 | % |  | 4.50 | %
93.007.000-9 |  | SQM S.A. |  | Chile |  | 97.030.000-7 |  | Banco Estado |  | Chile |  | Dollar |  | Upon maturity |  |  | 01/05/2023 |  | 4.59 | % |  | 4.59 | %
Debtor |  | Creditor |  | Nominal amounts as of December 31, 2022 |  | Current amounts as of December 31, 2022
|  |  |  | Up to 90 days |  | 90 days to 1 year |  | Total |  | Up to 90 days |  | 90 days to 1 year |  | Subtotal |  | Borrowing costs |  | Total
Company |  | Financial institution |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$
SQM S.A. |  | Scotiabank Cayman |  | — |  |  | 70,000 |  |  | 70,000 |  |  | — |  |  | 70,393 |  |  | 70,393 |  |  | (149) |  |  | 70,244 |
SQM S.A. |  | Banco Itau |  | 20,000 |  |  | — |  |  | 20,000 |  |  | 20,062 |  |  | — |  |  | 20,062 |  |  | — |  |  | 20,062 |
SQM S.A. |  | Banco Estado |  | 40,000 |  |  | — |  |  | 40,000 |  |  | 40,128 |  |  | — |  |  | 40,128 |  |  | — |  |  | 40,128 |
SQM S.A. |  | Scotiabank |  | — |  |  | — |  |  | — |  |  | 406 |  |  | — |  |  | 406 |  |  | — |  |  | 406 |
Total |  |  |  | 60,000 |  |  | 70,000 |  |  | 130,000 |  |  | 60,596 |  |  | 70,393 |  |  | 130,989 |  |  | (149) |  |  | 130,840 |
b)Unsecured obligations, current: As of December 31, 2023, the detail of current unsecured interest-bearing obligations is composed of promissory notes and bonds, as follows:
Debtor |  |  |  |  |  | Number of registration or ID of the instrument |  |  |  |  |  | Currency or adjustment index |  | Periodicity |  |  |  |
Tax ID No. |  | Company |  | Country |  |  | Series |  | Maturity date |  |  | Payment of interest |  | Repayment |  | Effective rate |  | Nominal rate
93.007.000-9 |  | SQM S.A. |  | Chile |  | — |  | ThUS$250,000 |  | 01/28/2024 |  | Dollar |  | Semiannual |  | Upon maturity |  | 0.80 | % |  | 4.38 | %
93.007.000-9 |  | SQM S.A. |  | Chile |  | — |  | ThUS$450,000 |  | 05/07/2024 |  | Dollar |  | Semiannual |  | Upon maturity |  | 2.39 | % |  | 4.25 | %
93.007.000-9 |  | SQM S.A. |  | Chile |  | — |  | ThUS$400,000 |  | 01/22/2024 |  | Dollar |  | Semiannual |  | Upon maturity |  | 3.62 | % |  | 4.25 | %
93.007.000-9 |  | SQM S.A. |  | Chile |  | — |  | ThUS$700,000 |  | 03/10/2024 |  | Dollar |  | Semiannual |  | Upon maturity |  | 3.30 | % |  | 3.50 | %
93.007.000-9 |  | SQM S.A. |  | Chile |  | — |  | ThUS$750,000 |  | 05/07/2024 |  | Dollar |  | Semiannual |  | Upon maturity |  | 6.89 | % |  | 6.50 | %
93.007.000-9 |  | SQM S.A. |  | Chile |  | 564 |  | H |  | 01/05/2024 |  | UF |  | Semiannual |  | Semiannual |  | 1.58 | % |  | 4.90 | %
93.007.000-9 |  | SQM S.A. |  | Chile |  | 699 |  | O |  | 02/01/2024 |  | UF |  | Semiannual |  | Upon maturity |  | 1.68 | % |  | 3.80 | %
93.007.000-9 |  | SQM S.A. |  | Chile |  | 563 |  | P |  | 01/15/2024 |  | UF |  | Semiannual |  | Upon maturity |  | 1.41 | % |  | 3.25 | %
93.007.000-9 |  | SQM S.A. |  | Chile |  | 700 |  | Q |  | 06/01/2024 |  | UF |  | Semiannual |  | Upon maturity |  | 2.41 | % |  | 3.45 | %
Effective rates of bonds in Pesos and UF are expressed and calculated in Dollars based on the flows agreed in Cross Currency Swap Agreements.
|  |  |  |  |  | Nominal amounts as of December 31, 2023 |  | Carrying amounts of maturities as of December 31, 2023
Company |  | Country |  | Series |  | Up to 90 days |  | 90 days to 1 year |  | Total |  | Up to 90 days |  | 90 days to 1 year |  | Subtotal |  | Borrowing costs |  | Total
|  |  |  |  |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$
SQM S.A. |  | Chile |  | ThUS$250,000 |  | 4,648 |  |  | — |  |  | 4,648 |  |  | 4,648 |  |  | — |  |  | 4,648 |  |  | (433) |  |  | 4,215 |
SQM S.A. |  | Chile |  | ThUS$450,000 |  | — |  |  | 2,869 |  |  | 2,869 |  |  | — |  |  | 2,869 |  |  | 2,869 |  |  | (677) |  |  | 2,192 |
SQM S.A. |  | Chile |  | ThUS$400,000 |  | 7,508 |  |  | — |  |  | 7,508 |  |  | 7,508 |  |  | — |  |  | 7,508 |  |  | (235) |  |  | 7,273 |
SQM S.A. |  | Chile |  | ThUS$700,000 |  | 7,554 |  |  | — |  |  | 7,554 |  |  | 7,554 |  |  | — |  |  | 7,554 |  |  | (555) |  |  | 6,999 |
SQM S.A. |  | Chile |  | ThUS$750,000 |  | — |  |  | 7,312 |  |  | 7,312 |  |  | — |  |  | 7,312 |  |  | 7,312 |  |  | (1,521) |  |  | 5,791 |
SQM S.A. |  | Chile |  | H |  | 17,599 |  |  | — |  |  | 17,599 |  |  | 17,599 |  |  | — |  |  | 17,599 |  |  | (172) |  |  | 17,427 |
SQM S.A. |  | Chile |  | O |  | 987 |  |  | — |  |  | 987 |  |  | 987 |  |  | — |  |  | 987 |  |  | (82) |  |  | 905 |
SQM S.A. |  | Chile |  | P |  | 1,871 |  |  | — |  |  | 1,871 |  |  | 1,871 |  |  | — |  |  | 1,871 |  |  | (12) |  |  | 1,859 |
SQM S.A. |  | Chile |  | Q |  | — |  |  | 359 |  |  | 359 |  |  | — |  |  | 359 |  |  | 359 |  |  | (21) |  |  | 338 |
Total |  |  |  |  |  | 40,167 |  |  | 10,540 |  |  | 50,707 |  |  | 40,167 |  |  | 10,540 |  |  | 50,707 |  |  | (3,708) |  |  | 46,999 |
As of December 31, 2022
Debtor |  |  |  |  |  | Number of registration or ID of the instrument |  |  |  |  |  | Currency or adjustment index |  | Periodicity |  |  |  |
Tax I No. |  | Company |  | Country |  |  | Series |  | Maturity date |  |  | Payment of interest |  | Repayment |  | Effective rate |  | Nominal rate
93.007.000-9 |  | SQM S.A. |  | Chile |  | — |  | ThUS$250,000 |  | 01/28/2023 |  | Dollar |  | Semiannual |  | Upon maturity |  | 1.17 | % |  | 4.38 | %
93.007.000-9 |  | SQM S.A. |  | Chile |  | — |  | ThUS$300,000 |  | 04/03/2023 |  | Dollar |  | Semiannual |  | Upon maturity |  | 0.56 | % |  | 3.63 | %
93.007.000-9 |  | SQM S.A. |  | Chile |  | — |  | ThUS$450,000 |  | 05/07/2023 |  | Dollar |  | Semiannual |  | Upon maturity |  | 3.01 | % |  | 4.25 | %
93.007.000-9 |  | SQM S.A. |  | Chile |  | — |  | ThUS$400,000 |  | 01/22/2023 |  | Dollar |  | Semiannual |  | Upon maturity |  | 3.79 | % |  | 4.25 | %
93.007.000-9 |  | SQM S.A. |  | Chile |  | — |  | ThUS$700,000 |  | 03/10/2023 |  | Dollar |  | Semiannual |  | Upon maturity |  | 3.44 | % |  | 3.50 | %
93.007.000-9 |  | SQM S.A. |  | Chile |  | 564 |  | H |  | 01/05/2023 |  | UF |  | Semiannual |  | Semiannual |  | 1.23 | % |  | 4.90 | %
93.007.000-9 |  | SQM S.A. |  | Chile |  | 699 |  | O |  | 02/01/2023 |  | UF |  | Semiannual |  | Upon maturity |  | 1.89 | % |  | 3.80 | %
93.007.000-9 |  | SQM S.A. |  | Chile |  | 563 |  | P |  | 01/15/2023 |  | UF |  | Semiannual |  | Upon maturity |  | 1.72 | % |  | 3.25 | %
93.007.000-9 |  | SQM S.A. |  | Chile |  | 700 |  | Q |  | 06/01/2023 |  | UF |  | Semiannual |  | Upon maturity |  | 2.63 | % |  | 3.45 | %
Effective rates of bonds in Pesos and UF are expressed and calculated in Dollars based on the flows agreed in Cross Currency Swap Agreements.
|  |  |  |  |  | Nominal amounts as of December 31, 2022 |  | Carrying amounts of maturities as of December 31, 2022
Company |  | Country |  | Series |  | Up to 90 days |  | 90 days to 1 year |  | Total |  | Up to 90 days |  | 90 days to 1 year |  | Subtotal |  | Borrowing costs |  | Total
|  |  |  |  |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$
SQM S.A. |  | Chile |  | ThUS$250,000 |  | 4,648 |  |  | — |  |  | 4,648 |  |  | 4,648 |  |  | — |  |  | 4,648 |  |  | (433) |  |  | 4,215 |
SQM S.A. |  | Chile |  | ThUS$300,000 |  | — |  |  | 302,658 |  |  | 302,658 |  |  | — |  |  | 302,658 |  |  | 302,658 |  |  | (170) |  |  | 302,488 |
SQM S.A. |  | Chile |  | ThUS$450,000 |  | — |  |  | 2,869 |  |  | 2,869 |  |  | — |  |  | 2,869 |  |  | 2,869 |  |  | (679) |  |  | 2,190 |
SQM S.A. |  | Chile |  | ThUS$400,000 |  | 7,508 |  |  | — |  |  | 7,508 |  |  | 7,508 |  |  | — |  |  | 7,508 |  |  | (237) |  |  | 7,271 |
SQM S.A. |  | Chile |  | ThUS$700,000 |  | — |  |  | 7,554 |  |  | 7,554 |  |  | — |  |  | 7,554 |  |  | 7,554 |  |  | (555) |  |  | 6,999 |
SQM S.A. |  | Chile |  | H |  | 17,566 |  |  | — |  |  | 17,566 |  |  | 17,566 |  |  | — |  |  | 17,566 |  |  | (172) |  |  | 17,394 |
SQM S.A. |  | Chile |  | O |  | 965 |  |  | — |  |  | 965 |  |  | 965 |  |  | — |  |  | 965 |  |  | (82) |  |  | 883 |
SQM S.A. |  | Chile |  | P |  | 1,830 |  |  | — |  |  | 1,830 |  |  | 1,830 |  |  | — |  |  | 1,830 |  |  | (12) |  |  | 1,818 |
SQM S.A. |  | Chile |  | Q |  | — |  |  | 351 |  |  | 351 |  |  | — |  |  | 351 |  |  | 351 |  |  | (20) |  |  | 331 |
Total |  |  |  |  |  | 32,517 |  |  | 313,432 |  |  | 345,949 |  |  | 32,517 |  |  | 313,432 |  |  | 345,949 |  |  | (2,360) |  |  | 343,589 |
c)Bank borrowings -non-current The following table shows the details of bank loans as of December 31, 2023:
Debtor |  | Creditor |  | Currency or adjustment index |  | Type of amortization |  | Effective rate |  | Nominal rate
Tax ID No. |  | Company |  | Country |  | Tax ID No. |  | Financial institution |  | Country |  |  |  |
93.007.000-9 |  | SQM S.A. |  | Chile |  | O-E |  | Bank of Nova Scotia |  | Canada |  | Dollar |  | Upon Maturity |  | 5.88 | % |  | 6.64 | %
93.007.000-9 |  | SQM S.A. |  | Chile |  | O-E |  | Banco Santander/Kexim |  | Spain/South Korea |  | Dollar |  | Upon Maturity |  | 5.49 | % |  | 6.36 | %
Debtor |  | Creditor |  | Nominal non-current maturities as of December 31, 2023 |  | Carrying amounts of maturities as of December 31, 2023
Company |  | Financial institution |  | Between 1 and 2 |  | Between 2 and 3 |  | Between 3 and 4 |  | Total |  | Between 1 and 2 |  | Between 2 and 3 |  | Between 3 and 4 |  | Subtotal |  | Costs of obtaining loans |  | Total
|  |  |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$
SQM S.A. |  | Bank of Nova Scotia |  | — |  |  | 200,000 |  |  | — |  |  | 200,000 |  |  | — |  |  | 200,000 |  |  | — |  |  | 200,000 |  |  | (1,648) |  |  | 198,352 |
SQM S.A. |  | Banco Santander/Kexim |  | — |  |  | — |  |  | 100,000 |  |  | 100,000 |  |  | — |  |  | — |  |  | 100,000 |  |  | 100,000 |  |  | (2,834) |  |  | 97,166 |
Total |  |  |  | — |  |  | 200,000 |  |  | 100,000 |  |  | 300,000 |  |  | — |  |  | 200,000 |  |  | 100,000 |  |  | 300,000 |  |  | (4,482) |  |  | 295,518 |
As of December 31, 2022
Debtor |  | Creditor |  | Currency or adjustment index |  | Type of amortization |  | Effective rate |  | Nominal rate
Tax ID No. |  | Company |  | Country |  | Tax ID No. |  | Financial institution |  | Country |  |  |  |
93.007.000-9 |  | SQM S.A. |  | Chile |  | O-E |  | Scotiabank Cayman |  | United States of America |  | Dollar |  | Upon Maturity |  | 2.33 | % |  | 3.19 | %
93.007.000-9 |  | SQM S.A. |  | Chile |  | O-E |  | Scotiabank |  | Canada |  | Dollar |  | Upon Maturity |  | 5.10 | % |  | 6.08 | %
Debtor |  | Creditor |  | Nominal non-current maturities as of December 31, 2022 |  | Carrying amounts of maturities as of December 31, 2022
Company |  | Financial institution |  | Between 1 and 2 |  | Between 2 and 3 |  | Between 3 and 4 |  | Total |  | Between 1 and 2 |  | Between 2 and 3 |  | Between 3 and 4 |  | Subtotal |  | Costs of obtaining loans |  | Total
|  |  |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$
SQM S.A. |  | Scotiabank Cayman |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
SQM S.A. |  | Scotiabank |  | — |  |  | 200,000 |  |  | — |  |  | 200,000 |  |  | — |  |  | 200,000 |  |  | — |  |  | 200,000 |  |  | (2,478) |  |  | 197,522 |
Total |  |  |  | — |  |  | 200,000 |  |  | — |  |  | 200,000 |  |  | — |  |  | 200,000 |  |  | — |  |  | 200,000 |  |  | (2,478) |  |  | 197,522 |
d)Unsecured obligations, non-current The following table shows the details of “unsecured debentures that accrue non-current interest” as of December 31, 2023:
Debtor |  |  |  |  |  | Number of registration or ID of the instrument |  |  |  |  |  | Currency or adjustment index |  | Periodicity |  |  |  |
Tax ID No. |  | Company |  | Country |  |  | Series |  | Maturity date |  |  | Payment of interest |  | Repayment |  | Effective rate |  | Nominal rate
93.007.000-9 |  | SQM S.A. |  | Chile |  | — |  | ThUS$250,000 |  | 01/28/2025 |  | Dollar |  | Semiannual |  | Upon maturity |  | 4.24 | % |  | 4.38 | %
93.007.000-9 |  | SQM S.A. |  | Chile |  | — |  | ThUS$450,000 |  | 05/07/2029 |  | Dollar |  | Semiannual |  | Upon maturity |  | 4.14 | % |  | 4.25 | %
93.007.000-9 |  | SQM S.A. |  | Chile |  | — |  | ThUS$400,000 |  | 01/22/2050 |  | Dollar |  | Semiannual |  | Upon maturity |  | 4.23 | % |  | 4.25 | %
93.007.000-9 |  | SQM S.A. |  | Chile |  | — |  | ThUS$700,000 |  | 09/10/2051 |  | Dollar |  | Semiannual |  | Upon maturity |  | 3.45 | % |  | 3.50 | %
93.007.000-9 |  | SQM S.A. |  | Chile |  | — |  | ThUS$750,000 |  | 11/07/2033 |  | Dollar |  | Semiannual |  | Upon maturity |  | 6.89 | % |  | 6.50 | %
93.007.000-9 |  | SQM S.A. |  | Chile |  | 564 |  | H |  | 01/05/2030 |  | UF |  | Semiannual |  | Semiannual |  | 4.76 | % |  | 4.90 | %
93.007.000-9 |  | SQM S.A. |  | Chile |  | 699 |  | O |  | 02/01/2033 |  | UF |  | Semiannual |  | Upon maturity |  | 3.69 | % |  | 3.80 | %
93.007.000-9 |  | SQM S.A. |  | Chile |  | 563 |  | P |  | 01/15/2028 |  | UF |  | Semiannual |  | Upon maturity |  | 3.24 | % |  | 3.25 | %
93.007.000-9 |  | SQM S.A. |  | Chile |  | 700 |  | Q |  | 06/01/2038 |  | UF |  | Semiannual |  | Upon maturity |  | 3.54 | % |  | 3.45 | %
|  | Nominal non-current maturities as of December 31, 2023 |  | Carrying amounts of maturities as of December 31, 2023
Series |  | Over 1 year to 2 |  | Over 2 years to 3 |  | Over 3 Years to 4 |  | Over 4 Years to 5 |  | Over 5 years |  | Total |  | Over 1 year to 2 |  | Over 2 years to 3 |  | Over 3 Years to 4 |  | Over 4 Years to 5 |  | Over 5 years |  | Subtotal |  | Bond issuance costs |  | Total
|  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$
ThUS$250,000 |  | 250,000 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 250,000 |  |  | 250,000 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 250,000 |  |  | (36) |  |  | 249,964 |
ThUS$450,000 |  | — |  |  | — |  |  | — |  |  | — |  |  | 450,000 |  |  | 450,000 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 450,000 |  |  | 450,000 |  |  | (2,991) |  |  | 447,009 |
ThUS$400,000 |  | — |  |  | — |  |  | — |  |  | — |  |  | 400,000 |  |  | 400,000 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 400,000 |  |  | 400,000 |  |  | (5,879) |  |  | 394,121 |
ThUS$700,000 |  | — |  |  | — |  |  | — |  |  | — |  |  | 700,000 |  |  | 700,000 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 700,000 |  |  | 700,000 |  |  | (14,787) |  |  | 685,213 |
ThUS$750,000 |  | — |  |  | — |  |  | — |  |  | — |  |  | 750,000 |  |  | 750,000 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 750,000 |  |  | 750,000 |  |  | (13,437) |  |  | 736,563 |
H |  | — |  |  | — |  |  | — |  |  | — |  |  | 83,887 |  |  | 83,887 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 83,887 |  |  | 83,887 |  |  | (861) |  |  | 83,026 |
O |  | — |  |  | — |  |  | — |  |  | — |  |  | 62,915 |  |  | 62,915 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 62,915 |  |  | 62,915 |  |  | (659) |  |  | 62,256 |
P |  | — |  |  | — |  |  | — |  |  | — |  |  | 125,830 |  |  | 125,830 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 125,830 |  |  | 125,830 |  |  | (40) |  |  | 125,790 |
Q |  | — |  |  | — |  |  | — |  |  | — |  |  | 125,830 |  |  | 125,830 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 125,830 |  |  | 125,830 |  |  | (287) |  |  | 125,543 |
Total |  | 250,000 |  |  | — |  |  | — |  |  | — |  |  | 2,698,462 |  |  | 2,948,462 |  |  | 250,000 |  |  | — |  |  | — |  |  | — |  |  | 2,698,462 |  |  | 2,948,462 |  |  | (38,977) |  |  | 2,909,485 |
As of December 31, 2022
Debtor |  | Number of registration or ID of the instrument |  |  |  |  |  | Currency or adjustment index |  | Periodicity |  |  |  |
Tax ID No. |  | Company |  | Country |  |  | Series |  | Maturity date |  |  | Payment of interest |  | Repayment |  | Effective rate |  | Nominal rate
93.007.000-9 |  | SQM S.A. |  | Chile |  | — |  | ThUS$250,000 |  | 01/28/2025 |  | Dollar |  | Semiannual |  | Upon maturity |  | 4.08 | % |  | 4.38 | %
93.007.000-9 |  | SQM S.A. |  | Chile |  | — |  | ThUS$450,000 |  | 05/07/2029 |  | Dollar |  | Semiannual |  | Upon maturity |  | 4.10 | % |  | 4.25 | %
93.007.000-9 |  | SQM S.A. |  | Chile |  | — |  | ThUS$400,000 |  | 01/22/2050 |  | Dollar |  | Semiannual |  | Upon maturity |  | 4.19 | % |  | 4.25 | %
93.007.000-9 |  | SQM S.A. |  | Chile |  | — |  | ThUS$700,000 |  | 09/10/2051 |  | Dollar |  | Semiannual |  | Upon maturity |  | 3.42 | % |  | 3.50 | %
93.007.000-9 |  | SQM S.A. |  | Chile |  | 564 |  | H |  | 01/05/2030 |  | UF |  | Semiannual |  | Semiannual |  | 4.76 | % |  | 4.90 | %
93.007.000-9 |  | SQM S.A. |  | Chile |  | 699 |  | O |  | 02/01/2033 |  | UF |  | Semiannual |  | Upon maturity |  | 3.69 | % |  | 3.80 | %
93.007.000-9 |  | SQM S.A. |  | Chile |  | 563 |  | P |  | 01/15/2028 |  | UF |  | Semiannual |  | Upon maturity |  | 3.24 | % |  | 3.25 | %
93.007.000-9 |  | SQM S.A. |  | Chile |  | 700 |  | Q |  | 06/01/2038 |  | UF |  | Semiannual |  | Upon maturity |  | 3.43 | % |  | 3.45 | %
|  | Nominal non-current maturities as of December 31, 2022 |  | Carrying amounts of maturities as of December 31, 2022
Series |  | Over 1 year to 2 |  | Over 2 years to 3 |  | Over 3 Years to 4 |  | Over 4 Years to 5 |  | Over 5 years |  | Total |  | Over 1 year to 2 |  | Over 2 years to 3 |  | Over 3 Years to 4 |  | Over 4 Years to 5 |  | Over 5 years |  | Subtotal |  | Bond issuance costs |  | Total
|  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$
ThUS$250,000 |  | — |  |  | — |  |  | 250,000 |  |  | — |  |  | — |  |  | 250,000 |  |  | — |  |  | — |  |  | 250,000 |  |  | — |  |  | — |  |  | 250,000 |  |  | (469) |  |  | 249,531 |
ThUS$450,000 |  | — |  |  | — |  |  | — |  |  | — |  |  | 450,000 |  |  | 450,000 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 450,000 |  |  | 450,000 |  |  | (3,666) |  |  | 446,334 |
ThUS$400,000 |  | — |  |  | — |  |  | — |  |  | — |  |  | 400,000 |  |  | 400,000 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 400,000 |  |  | 400,000 |  |  | (6,112) |  |  | 393,888 |
ThUS$700,000 |  | — |  |  | — |  |  | — |  |  | — |  |  | 700,000 |  |  | 700,000 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 700,000 |  |  | 700,000 |  |  | (15,341) |  |  | 684,659 |
H |  | — |  |  | — |  |  | — |  |  | — |  |  | 96,967 |  |  | 96,967 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 96,967 |  |  | 96,967 |  |  | (1,034) |  |  | 95,933 |
O |  | — |  |  | — |  |  | — |  |  | — |  |  | 61,536 |  |  | 61,536 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 61,536 |  |  | 61,536 |  |  | (741) |  |  | 60,795 |
P |  | — |  |  | — |  |  | — |  |  | — |  |  | 123,072 |  |  | 123,072 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 123,072 |  |  | 123,072 |  |  | (52) |  |  | 123,020 |
Q |  | — |  |  | — |  |  | — |  |  | — |  |  | 123,073 |  |  | 123,073 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 123,073 |  |  | 123,073 |  |  | (309) |  |  | 122,764 |
Total |  | — |  |  | — |  |  | 250,000 |  |  | — |  |  | 1,954,648 |  |  | 2,204,648 |  |  | — |  |  | — |  |  | 250,000 |  |  | — |  |  | 1,954,648 |  |  | 2,204,648 |  |  | (27,724) |  |  | 2,176,924 |
12.5 Trade and other payables a)Details trade and other payables
|  | As of December 31, 2023 |  | As of December 31, 2022
Details trade and other payables |  | Current |  | Non-current |  | Current |  | Current |  | Non-current |  | Total
|  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$
Accounts payable |  | 441,780 |  |  | — |  |  | 441,780 |  |  | 358,711 |  |  | — |  |  | 358,711 |
Other accounts payable |  | 2,163 |  |  | — |  |  | 2,163 |  |  | 1,438 |  |  | — |  |  | 1,438 |
Prepayments from customers |  | 5,690 |  |  | — |  |  | 5,690 |  |  | 14,640 |  |  | — |  |  | 14,640 |
Total |  | 449,633 |  |  | — |  |  | 449,633 |  |  | 374,789 |  |  | — |  |  | 374,789 |
As of December 31, 2023, and 2022, the balance of current and past due accounts payable is made up as follows: Suppliers current on all payments
|  | Amounts according to payment periods as of December 31, 2023
Type of Supplier |  | Up to 30 Days |  | 31 – 60 days |  | 61 – 90 Days |  | 91 – 120 days |  | 121 – 365 days |  | 366 and more days |  | Total
|  |  |  |  |  |  |  |  |  |  |  |  |  | ThUS$
Goods |  | 246,789 |  |  | 2,654 |  |  | 2 |  |  | — |  |  | 1,653 |  |  | — |  |  | 251,098 |
Services |  | 142,625 |  |  | 243 |  |  | 4 |  |  | — |  |  | 65 |  |  | — |  |  | 142,937 |
Others |  | 50,335 |  |  | — |  |  | — |  |  | — |  |  | 7 |  |  | — |  |  | 50,342 |
Total |  | 439,749 |  |  | 2,897 |  |  | 6 |  |  | — |  |  | 1,725 |  |  | — |  |  | 444,377 |
|  | Amounts according to payment periods as of December 31, 2022
Type of Supplier |  | Up to 30 Days |  | 31 – 60 days |  | 61 – 90 Days |  | 91 – 120 days |  | 121 – 365 days |  | 366 and more days |  | Total
|  |  |  |  |  |  |  |  |  |  |  |  |  | ThUS$
Goods |  | 239,108 |  |  | 786 |  |  | 877 |  |  | 339 |  |  | — |  |  | — |  |  | 241,110 |
Services |  | 91,499 |  |  | 1,270 |  |  | 73 |  |  | — |  |  | 65 |  |  | — |  |  | 92,907 |
Others |  | 34,325 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 34,325 |
Total |  | 364,932 |  |  | 2,056 |  |  | 950 |  |  | 339 |  |  | 65 |  |  | — |  |  | 368,342 |
Suppliers past due on payments
|  | Amounts according to payment periods as of December 31, 2023
Type of Supplier |  | Up to 30 Days |  | 31 – 60 days |  | 61 – 90 Days |  | 91 – 120 days |  | 121 – 365 days |  | 366 and more days |  | Total
|  |  |  |  |  |  |  |  |  |  |  |  |  | ThUS$
Goods |  | 864 |  |  | 158 |  |  | 77 |  |  | 66 |  |  | 185 |  |  | — |  |  | 1,350 |
Services |  | 1,557 |  |  | 57 |  |  | 24 |  |  | 8 |  |  | 19 |  |  | — |  |  | 1,665 |
Others |  | 10 |  |  | 9 |  |  | — |  |  | — |  |  | 59 |  |  | — |  |  | 78 |
Total |  | 2,431 |  |  | 224 |  |  | 101 |  |  | 74 |  |  | 263 |  |  | — |  |  | 3,093 |
|  | Amounts according to payment periods as of December 31, 2022
Type of Supplier |  | Up to 30 Days |  | 31 – 60 days |  | 61 – 90 Days |  | 91 – 120 days |  | 121 – 365 days |  | 366 and more days |  | Total
|  |  |  |  |  |  |  |  |  |  |  |  |  | ThUS$
Goods |  | 1,294 |  |  | 135 |  |  | 64 |  |  | 24 |  |  | 1,363 |  |  | — |  |  | 2,880 |
Services |  | 1,548 |  |  | 174 |  |  | 20 |  |  | 1 |  |  | 196 |  |  | — |  |  | 1,939 |
Others |  | 136 |  |  | 27 |  |  | — |  |  | — |  |  | 27 |  |  | — |  |  | 190 |
Total |  | 2,978 |  |  | 336 |  |  | 84 |  |  | 25 |  |  | 1,586 |  |  | — |  |  | 5,009 |
Purchase commitments held by the Company are recognized as liabilities when the goods and services are received by the Company. As of December 31, 2023, the Company has purchase orders amounting to ThUS$296,598 and ThUS$191,319 as of December 31, 2022. 12.6 Financial asset and liability categories a)Financial Assets
|  | As of December 31, 2023 |  | As of December 31, 2022
Description of financial assets |  | Current |  | Non-current |  | Total |  | Current |  | Non-current |  | Total
|  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$
Cash and cash equivalent |  | 1,041,369 |  |  | — |  |  | 1,041,369 |  |  | 2,655,236 |  |  | — |  |  | 2,655,236 |
Trade receivables due from related parties at amortized cost |  | 43,253 |  |  | — |  |  | 43,253 |  |  | 81,622 |  |  | — |  |  | 81,622 |
Financial assets measured at amortized cost |  | 1,316,797 |  |  | 20 |  |  | 1,316,817 |  |  | 950,167 |  |  | 23 |  |  | 950,190 |
Trade and other receivables |  | 907,181 |  |  | 2,559 |  |  | 909,740 |  |  | 1,087,420 |  |  | 2,091 |  |  | 1,089,511 |
Total financial assets measured at amortized cost |  | 3,308,600 |  |  | 2,579 |  |  | 3,311,179 |  |  | 4,774,445 |  |  | 2,114 |  |  | 4,776,559 |
Financial instruments for hedging purposes |  | 8,527 |  |  | 15,993 |  |  | 24,520 |  |  | 7,014 |  |  | 22,606 |  |  | 29,620 |
Derivative financial instruments with effect in profit or loss (no hedge) |  | 519 |  |  | — |  |  | 519 |  |  | 4,174 |  |  | — |  |  | 4,174 |
Financial assets classified as available for sale at fair value through other comprehensive income |  | — |  |  | 232,268 |  |  | 232,268 |  |  | — |  |  | 9,497 |  |  | 9,497 |
Total financial assets at fair value |  | 9,046 |  |  | 248,261 |  |  | 257,307 |  |  | 11,188 |  |  | 32,103 |  |  | 43,291 |
Total financial assets |  | 3,317,646 |  |  | 250,840 |  |  | 3,568,486 |  |  | 4,785,633 |  |  | 34,217 |  |  | 4,819,850 |
b)Financial Liabilities
|  | As of December 31, 2023 |  | As of December 31, 2022
Description of financial liabilities |  | Current |  | Non-current |  | Total |  | Current |  | Non-current |  | Total
|  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$
For hedging purposes through other comprehensive income |  | 30,443 |  |  | 8,419 |  |  | 38,862 |  |  | 42,754 |  |  | 19,772 |  |  | 62,526 |
Held for trading at fair value through profit or loss |  | 14,795 |  |  | — |  |  | 14,795 |  |  | 5,816 |  |  | — |  |  | 5,816 |
Financial liabilities at fair value |  | 45,238 |  |  | 8,419 |  |  | 53,657 |  |  | 48,570 |  |  | 19,772 |  |  | 68,342 |
Bank loans |  | 1,164,262 |  |  | 295,518 |  |  | 1,459,780 |  |  | 130,840 |  |  | 197,522 |  |  | 328,362 |
Unsecured obligations |  | 46,999 |  |  | 2,909,485 |  |  | 2,956,484 |  |  | 343,589 |  |  | 2,176,924 |  |  | 2,520,513 |
Lease Liabilities |  | 18,192 |  |  | 56,966 |  |  | 75,158 |  |  | 12,149 |  |  | 49,585 |  |  | 61,734 |
Trade and other payables |  | 449,633 |  |  | — |  |  | 449,633 |  |  | 374,789 |  |  | — |  |  | 374,789 |
Total financial liabilities at amortized cost |  | 1,679,086 |  |  | 3,261,969 |  |  | 4,941,055 |  |  | 861,367 |  |  | 2,424,031 |  |  | 3,285,398 |
Total financial liabilities |  | 1,724,324 |  |  | 3,270,388 |  |  | 4,994,712 |  |  | 909,937 |  |  | 2,443,803 |  |  | 3,353,740 |
12.7 Fair value measurement of finance assets and liabilities The fair value hierarchy is detailed as follows: (a)Level 1: The fair value of financial instruments traded in active markets (such as publicly traded derivatives, and equity securities) is based on quoted market prices at the end of the reporting period. The quoted market price used for financial assets held by the Company is the current bid price. These instruments are included in level 1. (b)Level 2: The fair value of financial instruments that are not traded in an active market (for example, over-the-counter derivatives) is determined using valuation techniques which maximize the use of observable market data and rely as little as possible on entity-specific estimates. If all significant inputs required to fair value an instrument are observable, the instrument is included in level 2. (c)Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3. This is the case for unlisted equity securities.
|  | As of December 31, 2023 |  | Measurement Methodology
Fair value measurement of assets and liabilities |  | Carrying Amount at Amortized Cost |  | Fair value (disclosure purposes) |  | Fair amount registered |  | Level 1 |  | Level 2 |  | Level 3
|  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$
Financial Assets |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | 1,041,369 |  |  | 1,041,369 |  |  | — |  |  | 1,041,369 |  |  | — |  |  | — |
Other current financial assets |  |  |  |  |  |  |  |  |  |  |  |
-Time deposits |  | 1,316,797 |  |  | 1,316,797 |  |  | — |  |  | — |  |  | 1,316,797 |  |  | — |
-Derivative financial instruments |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |
-Forwards |  | — |  |  | — |  |  | 324 |  |  | — |  |  | 324 |  |  | — |
-Options |  | — |  |  | — |  |  | 195 |  |  | — |  |  | 195 |  |  | — |
-Hedging assets |  | — |  |  | — |  |  | 8,527 |  |  | — |  |  | 8,527 |  |  | — |
-Swaps |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Non-current accounts receivable |  | 2,559 |  |  | 2,559 |  |  | — |  |  | — |  |  | — |  |  | — |
Other non-current financial assets: |  |  |  |  |  |  |  |  |  |  |  |
-Other |  | 20 |  |  | 20 |  |  | — |  |  | — |  |  | 20 |  |  | — |
-Equity instruments |  | — |  |  | — |  |  | 232,268 |  |  | 232,268 |  |  | — |  |  | — |
-Hedging assets – Swaps |  | — |  |  | — |  |  | 15,993 |  |  | 15,993 |  |  | — |  |  | — |
Other current financial liabilities |  |  |  |  |  |  |  |  |  |  |  |
-Bank borrowings |  | 1,164,262 |  |  | 1,164,262 |  |  | — |  |  | — |  |  | 1,164,262 |  |  | — |
-Derivative instruments |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
-Forwards |  | — |  |  | — |  |  | 14,525 |  |  | — |  |  | 14,525 |  |  | — |
-Options |  | — |  |  | — |  |  | 270 |  |  | — |  |  | 270 |  |  | — |
-Hedging liabilities – Swaps |  | — |  |  | — |  |  | 12,143 |  |  | — |  |  | 12,143 |  |  | — |
-Swaps hedges, investments |  | — |  |  | — |  |  | 18,300 |  |  | — |  |  | 18,300 |  |  | — |
-Cash flow hedges |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
-Unsecured obligations |  | 46,999 |  |  | 46,999 |  |  | — |  |  | — |  |  | 46,999 |  |  | — |
Other non-current financial liabilities |  |  |  |  |  |  |  |  |  |  |  |
-Bank borrowings |  | 295,518 |  |  | 295,518 |  |  | — |  |  | — |  |  | 295,518 |  |  | — |
-Unsecured obligations |  | 2,909,485 |  |  | 2,909,485 |  |  | — |  |  | — |  |  | 2,909,485 |  |  | — |
-Non-current hedging liabilities |  | — |  |  | — |  |  | 8,419 |  |  | — |  |  | 8,419 |  |  | — |
|  | As of December 31, 2022 |  | Measurement Methodology
Fair value measurement of assets and liabilities |  | Carrying Amount at Amortized Cost |  | Fair value (disclosure purposes) |  | Fair amount registered |  | Level 1 |  | Level 2 |  | Level 3
|  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$
Financial Assets |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | 2,655,236 |  |  | 2,655,236 |  |  | — |  |  | 2,655,236 |  |  | — |  |  | — |
Other current financial assets |  |  |  |  |  |  |  |  |  |  |  |
-Time deposits |  | 950,167 |  |  | 950,167 |  |  | — |  |  | — |  |  | 950,167 |  |  | — |
-Derivative financial instruments |  |  |  |  |  |  |  |  |  |  |  |
-Forwards |  | — |  |  | — |  |  | 3,704 |  |  | — |  |  | 3,704 |  |  | — |
-Options |  | — |  |  | — |  |  | 470 |  |  | — |  |  | 470 |  |  | — |
-Hedging assets |  | — |  |  | — |  |  | 7,014 |  |  | — |  |  | 7,014 |  |  | — |
-Swaps |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Non-current accounts receivable |  | 2,091 |  |  | 2,091 |  |  | — |  |  | — |  |  | — |  |  | — |
Other non-current financial assets: |  |  |  |  |  |  |  |  |  |  |  |
-Other |  | 23 |  |  | 23 |  |  | — |  |  | — |  |  | 23 |  |  | — |
-Equity instruments |  | — |  |  | — |  |  | 9,497 |  |  | 9,497 |  |  | — |  |  | — |
-Hedging assets – Swaps |  | — |  |  | — |  |  | 22,606 |  |  | 22,606 |  |  | — |  |  | — |
Other current financial liabilities |  |  |  |  |  |  |  |  |  |  |  |
-Bank borrowings |  | 130,840 |  |  | 130,840 |  |  | — |  |  | — |  |  | 130,840 |  |  | — |
-Derivative instruments |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
-Forwards |  | — |  |  | — |  |  | 4,848 |  |  | — |  |  | 4,848 |  |  | — |
-Options |  | — |  |  | — |  |  | 968 |  |  | — |  |  | 968 |  |  | — |
-Hedging liabilities – Swaps |  | — |  |  | — |  |  | 42,754 |  |  | — |  |  | 42,754 |  |  | — |
-Swaps hedges, investments |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
-Unsecured obligations |  | 343,589 |  |  | 343,589 |  |  | — |  |  | — |  |  | 343,589 |  |  | — |
Other non-current financial liabilities |  |  |  |  |  |  |  |  |  |  |  |
-Bank borrowings |  | 197,522 |  |  | 196,598 |  |  | — |  |  | — |  |  | 196,598 |  |  | — |
-Unsecured obligations |  | 2,176,924 |  |  | 2,476,924 |  |  | — |  |  | — |  |  | 2,476,924 |  |  | — |
-Non-current hedging liabilities |  | — |  |  | — |  |  | 19,772 |  |  | — |  |  | 19,772 |  |  | — |
12.8 Reconciliation of net debt/cash and lease liabilities This section presents an analysis of net debt/cash plus lease liabilities and their movements for each of the reported periods. The definition of the net debt/cash is described in Note 19.1. and includes current and non-current lease liabilities to complete its analysis.
Net debt |  | As of December 31, 2023 |  | As of December 31, 2022
|  | ThUS$ |  | ThUS$
Cash and cash equivalents |  | 1,041,369 |  |  | 2,655,236 |
Other current financial assets |  | 1,325,843 |  |  | 961,355 |
Other non-current financial hedge assets |  | 15,993 |  |  | 22,606 |
Other current financial liabilities |  | (1,256,499) |  |  | (522,999) |
Lease liabilities current |  | (18,192) |  |  | (12,149) |
Other non-current financial liabilities |  | (3,213,422) |  |  | (2,394,218) |
Non-current Lease liabilities |  | (56,966) |  |  | (49,585) |
Total |  | (2,161,874) |  |  | 660,246 |
|  | As of December 31, 2022 |  | From cash flow |  | Not from cash flow |  | As of December 31, 2023
Net debt |  |  | Amounts from loans |  | Amounts from interests |  | Other cash (inflows)/outflows |  | Income statement |  | Equity and others |
|  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$
Obligations with the public and bank loans |  | (2,848,875) |  |  | (1,534,282) |  |  | 117,145 |  |  | 18,346 |  |  | (168,598) |  |  | — |  |  | (4,416,264) |
Financial instruments derived from hedging |  | (39,681) |  |  | (18,927) |  |  | 4,077 |  |  | — |  |  | 11,731 |  |  | 20,800 |  |  | (22,000) |
Derivatives for investment hedges |  | (29,984) |  |  | — |  |  | — |  |  | (10,082) |  |  | 18,171 |  |  | 3,595 |  |  | (18,300) |
Non-hedging Derivatives in Other financial liabilities |  | (5,816) |  |  | — |  |  | — |  |  | — |  |  | (8,979) |  |  | — |  |  | (14,795) |
Current and non-current lease liabilities |  | (61,734) |  |  | 15,914 |  |  | 2,038 |  |  | — |  |  | (31,376) |  |  | — |  |  | (75,158) |
Current and non-current financial liabilities |  | (2,986,090) |  |  | (1,537,295) |  |  | 123,260 |  |  | 8,264 |  |  | (179,051) |  |  | 24,395 |  |  | (4,546,517) |
Cash and cash equivalents |  | 2,655,236 |  |  | — |  |  | (53,539) |  |  | (1,615,863) |  |  | 55,535 |  |  | — |  |  | 1,041,369 |
Deposits that do not qualify as cash and cash equivalents |  | 950,167 |  |  | — |  |  | (49,226) |  |  | 341,742 |  |  | 74,114 |  |  | — |  |  | 1,316,797 |
Debt Hedging Derivative Financial Instruments |  | 29,620 |  |  | — |  |  | — |  |  | — |  |  | (5,100) |  |  | — |  |  | 24,520 |
Derivatives for investment hedges |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Non-hedging derivatives on other financial assets |  | 4,174 |  |  | — |  |  | — |  |  | (18,034) |  |  | 14,380 |  |  | — |  |  | 520 |
Hedging derivatives reimbursement of SQM Australia asset |  | 7,139 |  |  | — |  |  | — |  |  | 1,183 |  |  | (1,183) |  |  | (5,702) |  |  | 1,437 |
Current and Non-Current Financial Assets |  | 3,646,336 |  |  | — |  |  | (102,765) |  |  | (1,290,972) |  |  | 137,746 |  |  | (5,702) |  |  | 2,384,643 |
Total |  | 660,246 |  |  | (1,537,295) |  |  | 20,495 |  |  | (1,282,708) |  |  | (41,305) |  |  | 18,693 |  |  | (2,161,874) |
|  | As of December 31, 2021 |  | From cash flow |  | Not from cash flow |  | As of December 31, 2022
Net debt |  |  | Amounts from loans |  | Amounts from interests |  | Other cash (inflows)/outflows |  | Income statement |  | Equity and others |
|  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$ |  | ThUS$
Obligations with the public and bank loans |  | (2,555,511) |  |  | (246,883) |  |  | 98,155 |  |  | 2,566 |  |  | (147,202) |  |  | — |  |  | (2,848,875) |
Debt hedging derivative financial instruments |  | (81,854) |  |  | 993 |  |  | 7,623 |  |  | — |  |  | 6,108 |  |  | 27,449 |  |  | (39,681) |
Hedging and investment derivatives |  | — |  |  | — |  |  | — |  |  | (2,662) |  |  | (21,319) |  |  | (6,003) |  |  | (29,984) |
Non-hedging derivatives on other financial liabilities |  | (1,672) |  |  | — |  |  | — |  |  | — |  |  | (4,144) |  |  | — |  |  | (5,816) |
Operating lease liabilities, current and non-current |  | (54,223) |  |  | 10,478 |  |  | 1,226 |  |  | — |  |  | (19,215) |  |  | — |  |  | (61,734) |
Current and non-current financial liabilities |  | (2,693,260) |  |  | (235,412) |  |  | 107,004 |  |  | (96) |  |  | (185,772) |  |  | 21,446 |  |  | (2,986,090) |
Cash and cash equivalents |  | 1,515,051 |  |  | — |  |  | (25,623) |  |  | 1,165,225 |  |  | 583 |  |  | — |  |  | 2,655,236 |
Deposits that do not qualify as cash and cash equivalents |  | 905,170 |  |  | — |  |  | (24,088) |  |  | 24,679 |  |  | 44,406 |  |  | — |  |  | 950,167 |
Debt hedging derivative financial instruments |  | 257 |  |  | — |  |  | — |  |  | — |  |  | 29,363 |  |  | — |  |  | 29,620 |
Hedging and investment derivatives |  | 12,613 |  |  | — |  |  | — |  |  | — |  |  | (12,613) |  |  | — |  |  | — |
Non-hedging derivatives on other financial assets |  | 1,254 |  |  | — |  |  | — |  |  | (39,878) |  |  | 42,798 |  |  | — |  |  | 4,174 |
Hedging derivatives reimbursement of SQM Australia asset |  | — |  |  | — |  |  | 2,022 |  |  | — |  |  | — |  |  | 5,117 |  |  | 7,139 |
Current and Non-Current Financial Assets |  | 2,434,345 |  |  | — |  |  | (47,689) |  |  | 1,150,026 |  |  | 104,537 |  |  | 5,117 |  |  | 3,646,336 |
Total |  | (258,915) |  |  | (235,412) |  |  | 59,315 |  |  | 1,149,930 |  |  | (81,235) |  |  | 26,563 |  |  | 660,246 |

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