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Gains (losses) from operating activities in the statement of income of expenses, included according to their nature (Tables) | 12 Months Ended
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Dec. 31, 2023
Gains (Losses) From Operating Activities In The Statement Of Income Of Expenses, Included According To Their Nature |
Schedule of revenue from operating activities customer activities | The Group derives revenues from the sale of goods (which are recognized at one point in time) and from the provision of services (which are recognized over time) and are distributed among the following geographical areas and main product and service lines: (a)Geographic areas:
For the year ended December 31, 2023
Geographic areas |  | Specialty plant nutrition |  | Iodine and derivatives |  | Lithium and derivatives |  | Potassium |  | Industrial chemicals |  | Other |  | Total ThUS$
Chile |  | 109,669 |  | 1,603 |  | 2,327 |  | 31,356 |  | 1,136 |  | 23,590 |  | 169,681
Latin America and the Caribbean |  | 76,157 |  | 21,523 |  | 7,289 |  | 93,868 |  | 10,489 |  | 973 |  | 210,299
Europe |  | 128,370 |  | 368,696 |  | 278,360 |  | 30,357 |  | 21,054 |  | 1,275 |  | 828,112
North America |  | 411,586 |  | 122,025 |  | 134,768 |  | 67,232 |  | 47,074 |  | 926 |  | 783,611
Asia and Others |  | 188,130 |  | 378,304 |  | 4,757,370 |  | 56,237 |  | 95,470 |  | 276 |  | 5,475,787
Total |  | 913,912 |  | 892,151 |  | 5,180,114 |  | 279,050 |  | 175,223 |  | 27,040 |  | 7,467,490
For the year ended December 31, 2022
Geographic areas |  | Specialty plant nutrition |  | Iodine and derivatives |  | Lithium and derivatives |  | Potassium |  | Industrial chemicals |  | Other |  | Total ThUS$
Chile |  | 128,829 |  |  | 1,523 |  |  | 1,854 |  |  | 64,409 |  |  | 1,199 |  |  | 25,334 |  |  | 223,148 |
Latin America and the Caribbean |  | 125,712 |  |  | 16,328 |  |  | 5,275 |  |  | 179,621 |  |  | 11,820 |  |  | 1,185 |  |  | 339,941 |
Europa |  | 196,930 |  |  | 288,854 |  |  | 390,832 |  |  | 27,275 |  |  | 27,725 |  |  | 942 |  |  | 932,558 |
North America |  | 489,327 |  |  | 141,683 |  |  | 151,152 |  |  | 71,711 |  |  | 59,402 |  |  | 912 |  |  | 914,187 |
Asia and Others |  | 231,536 |  |  | 305,951 |  |  | 7,603,826 |  |  | 94,164 |  |  | 65,054 |  |  | 213 |  |  | 8,300,744 |
Total |  | 1,172,334 |  |  | 754,339 |  |  | 8,152,939 |  |  | 437,180 |  |  | 165,200 |  |  | 28,586 |  |  | 10,710,578 |
For the year ended December 31, 2021
Geographic areas |  | Specialty plant nutrition |  | Iodine and derivatives |  | Lithium and derivatives |  | Potassium |  | Industrial chemicals |  | Other |  | Total ThUS$
Chile |  | 136,523 |  |  | 1,538 |  |  | 901 |  |  | 50,573 |  |  | 4,125 |  |  | 25,988 |  |  | 219,648 |
Latin America and the Caribbean |  | 88,990 |  |  | 10,198 |  |  | 4,905 |  |  | 214,304 |  |  | 7,367 |  |  | 523 |  |  | 326,287 |
Europa |  | 179,744 |  |  | 173,329 |  |  | 75,674 |  |  | 33,948 |  |  | 18,662 |  |  | 1,408 |  |  | 482,765 |
North America |  | 314,895 |  |  | 102,746 |  |  | 50,349 |  |  | 57,682 |  |  | 29,860 |  |  | 2,470 |  |  | 558,002 |
Asia and Others |  | 188,663 |  |  | 150,120 |  |  | 804,292 |  |  | 60,085 |  |  | 71,997 |  |  | 456 |  |  | 1,275,613 |
Total |  | 908,815 |  |  | 437,931 |  |  | 936,121 |  |  | 416,592 |  |  | 132,011 |  |  | 30,845 |  |  | 2,862,315 |
Schedule of main product and service lines | Main product and service lines:
|  | For the period from January to December of the year
Products and Services |  | 2023 |  | 2022 |  | 2021
|  | ThUS$ |  | ThUS$ |  | ThUS$
Specialty plant nutrition |  | 913,912 |  | 1,172,334 |  | 908,815
-Sodium Nitrates |  | 25,056 |  | 21,294 |  | 24,829
-Potassium nitrate and sodium potassium nitrate |  | 502,349 |  | 700,081 |  | 539,336
-Specialty Blends |  | 235,290 |  | 285,027 |  | 234,369
-Other specialty fertilizers |  | 151,217 |  | 165,932 |  | 110,281
Iodine and derivatives |  | 892,151 |  | 754,339 |  | 437,931
Lithium and derivatives |  | 5,180,114 |  | 8,152,939 |  | 936,121
Potassium |  | 279,050 |  | 437,180 |  | 416,592
Industrial chemicals |  | 175,223 |  | 165,200 |  | 132,011
Other |  | 27,040 |  | 28,586 |  | 30,845
Total |  | 7,467,490 |  | 10,710,578 |  | 2,862,315
Schedule of cost of sales | Cost of sales Cost of sales broken down by nature of expense:
|  | For the period from January to December of the year
Nature of expense |  | 2023 |  | 2022 |  | 2021
|  | ThUS$ |  | ThUS$ |  | ThUS$
Raw materials and consumables used |  | (687,116) |  |  | (561,709) |  |  | (345,356) |
Classes of employee benefit expenses |  | (308,972) |  |  | (308,744) |  |  | (211,771) |
Depreciation expense |  | (252,746) |  |  | (218,714) |  |  | (195,678) |
Depreciation of Right-of-use Assets (contracts under IFRS 16) |  | (11,719) |  |  | (6,549) |  |  | (5,963) |
Amortization expense |  | (12,415) |  |  | (16,413) |  |  | (9,737) |
Investment plan expenses |  | (25,638) |  |  | (18,293) |  |  | (15,059) |
Provision for materials, spare parts and supplies |  | (10,065) |  |  | (7,099) |  |  | (505) |
Contractors |  | (226,180) |  |  | (194,295) |  |  | (157,571) |
Operating leases |  | (84,423) |  |  | (71,420) |  |  | (67,106) |
Mining patents |  | (7,560) |  |  | (14,585) |  |  | (7,325) |
Operational transportation |  | (107,074) |  |  | (91,130) |  |  | (76,004) |
Freight / product transportation costs |  | (104,664) |  |  | (94,727) |  |  | (77,353) |
Purchase of products from third parties |  | (422,023) |  |  | (473,742) |  |  | (329,464) |
Insurance |  | (55,204) |  |  | (43,323) |  |  | (21,869) |
Corfo rights and other agreements |  | (1,868,850) |  |  | (3,272,897) |  |  | (247,604) |
Export costs |  | (158,621) |  |  | (153,162) |  |  | (99,212) |
Expenses related to variable lease payments (contracts under IFRS 16) |  | (4,700) |  |  | (3,631) |  |  | (1,313) |
Variation in gross inventory |  | 20,024 |  |  | 628,671 |  |  | 85,709 |
Variation in inventory provision |  | (29,711) |  |  | (27,324) |  |  | 5,038 |
Other |  | (34,779) |  |  | (24,867) |  |  | 5,935 |
Total |  | (4,392,436) |  |  | (4,973,953) |  |  | (1,772,208) |
Schedule of other income |
|  | For the period from January to December of the year
Other income |  | 2023 |  | 2022 |  | 2021
|  | ThUS$ |  | ThUS$ |  | ThUS$
Discounts obtained from suppliers |  | 2,002 |  | 1,404 |  | 896
Fines charged to suppliers |  | 4,118 |  | 593 |  | 83
Amounts recovered from insurance |  | 1,242 |  | 1,646 |  | 1,811
Overestimate of provisions for third-party obligations |  | 1,272 |  | 86 |  | 293
Sale of assets classified as properties, plant and equipment |  | 11 |  | 365 |  | 287
Sales of materials, spare parts and supplies |  | 147 |  | 246 |  | 2,121
Options on mining properties |  | 376 |  | 1,126 |  | 8,796
Easements, pipelines and roads |  | 5,205 |  | 2,106 |  | 4,949
Government Grants (1) |  | 24,387 |  | — |  | —
Others |  | 1,797 |  | 2,282 |  | 316
Total |  | 40,557 |  | 9,854 |  | 19,552
(1) The Company received an unconditional government grant for US$24,387 in September 2023, related to the permanence of its commercial office of SQM Shanghai Chemicals Co. Ltd. in the current district, which was recognized as part of this category
Schedule of administrative expenses |
|  | For the period from January to December of the year
Administrative expenses |  | 2023 |  | 2022 |  | 2021
|  | ThUS$ |  | ThUS$ |  | ThUS$
Employee benefit expenses |  | (75,450) |  |  | (63,713) |  |  | (60,552) |
Marketing costs |  | (6,611) |  |  | (5,661) |  |  | (2,415) |
Amortization expenses |  | (444) |  |  | (126) |  |  | (118) |
Entertainment expenses |  | (6,067) |  |  | (5,576) |  |  | (4,906) |
Advisory services |  | (32,562) |  |  | (27,235) |  |  | (17,332) |
Lease of buildings and facilities |  | (4,331) |  |  | (3,829) |  |  | (3,478) |
Insurance |  | (3,778) |  |  | (3,011) |  |  | (3,901) |
Office expenses |  | (9,230) |  |  | (8,596) |  |  | (6,363) |
Contractors |  | (11,067) |  |  | (7,283) |  |  | (5,106) |
Depreciation of Right-of-use Assets (contracts under IFRS 16) |  | (3,463) |  |  | (2,656) |  |  | (2,743) |
Other expenses |  | (22,762) |  |  | (14,958) |  |  | (11,979) |
Total |  | (175,765) |  |  | (142,644) |  |  | (118,893) |
Schedule of other expenses |
|  | For the period from January to December of the year
Other expenses |  | 2023 |  | 2022 |  | 2021
|  | ThUS$ |  | ThUS$ |  | ThUS$
Impairment (losses) /reversals of impairment losses recognized in income for the year |  |  |  |  |  |
Properties, plant and equipment |  | (47,059) |  |  | (8,084) |  |  | (5,582) |
Intangible assets other than goodwill |  | — |  |  | (520) |  |  | (478) |
Goodwill |  | (9) |  |  | (33,629) |  | — |
Subtotal |  | (47,068) |  |  | (42,233) |  |  | (6,060) |
Other expenses, by nature |  |  |  |  |  |
Legal expenses |  | 17,127 |  |  | (6,841) |  |  | (42,254) |
VAT and other unrecoverable taxes |  | (2,683) |  |  | (5,694) |  |  | (1,015) |
Fines paid |  | (542) |  |  | (617) |  |  | (882) |
Investment plan expenses |  | (13,255) |  |  | (727) |  | 1 |
Exploration expenses |  | — |  | — |  |  | (284) |
Contributions and donations |  | (38,756) |  |  | (19,096) |  |  | (9,037) |
Other operating expenses |  | (8,223) |  |  | (763) |  |  | (1,074) |
Subtotal |  | (46,332) |  |  | (33,738) |  |  | (54,545) |
Total |  | (93,400) |  |  | (75,971) |  |  | (60,605) |
Schedule of other gains (losses) |
|  | For the period from January to December of the year
Other (losses) income |  | 2023 |  | 2022 |  | 2021
|  | ThUS$ |  | ThUS$ |  | ThUS$
Sale of investments in associates |  | — |  |  | 60 |  |  | — |
Adjust previous year application method of participation |  | (378) |  |  | (1) |  |  | — |
Reversal/Impairment of interests in associates |  | 626 |  |  | 1,349 |  |  | (2,009) |
Sale of investments in joint ventures |  | (2,599) |  |  | — |  |  | — |
Others |  | 97 |  |  | (1,291) |  |  | (629) |
Total |  | (2,254) |  |  | 117 |  |  | (2,638) |
Schedule of (impairment) reversal of losses of financial assets |
|  | For the period from January to December of the year
Impairment of financial assets and reversal of impairment losses |  | 2023 |  | 2022 |  | 2021
|  | ThUS$ |  | ThUS$ |  | ThUS$
Impairment of financial assets and reversal of impairment losses (See Note 12.2) |  | 202 |  |  | 3,369 |  |  | (235) |
Totals |  | 202 |  |  | 3,369 |  |  | (235) |
Schedule of expenses by nature | The following summary considers notes 21.2, 21.4 and 21.5.
|  | For the period from January to December of the year
Expenses by nature |  | 2023 |  | 2022 |  | 2021
|  | ThUS$ |  | ThUS$ |  | ThUS$
Raw materials and consumables |  | (687,116) |  |  | (561,709) |  |  | (345,356) |
Employee benefit expenses |  | (384,422) |  |  | (372,457) |  |  | (272,323) |
Depreciation expense |  | (252,746) |  |  | (218,714) |  |  | (195,678) |
Depreciation of right-of-use assets |  | (15,182) |  |  | (9,205) |  |  | (8,706) |
Impairment of properties, plant and equipment, intangible and Goodwill |  | (47,068) |  |  | (42,233) |  |  | (6,060) |
Amortization expense |  | (12,859) |  |  | (16,539) |  |  | (9,855) |
Legal expenses |  | 17,127 |  |  | (6,841) |  |  | (42,254) |
Investment plan expenses |  | (38,893) |  |  | (19,020) |  |  | (15,058) |
Exploration expenses |  | — |  |  | — |  |  | (284) |
Provision for materials, spare parts and supplies |  | (10,065) |  |  | (7,099) |  |  | (505) |
Contractors |  | (237,247) |  |  | (201,578) |  |  | (162,677) |
Operational leases |  | (88,754) |  |  | (75,249) |  |  | (70,584) |
Mining patents |  | (7,560) |  |  | (14,585) |  |  | (7,325) |
Operational transportation |  | (107,074) |  |  | (91,130) |  |  | (76,004) |
Freight and product transportation costs |  | (104,664) |  |  | (94,727) |  |  | (77,353) |
Purchase of products from third parties |  | (422,023) |  |  | (473,742) |  |  | (329,464) |
Corfo rights and other agreements |  | (1,868,850) |  |  | (3,272,897) |  |  | (247,604) |
Export costs |  | (158,621) |  |  | (153,162) |  |  | (99,212) |
Expenses related to variable lease payments (contracts under IFRS 16) |  | (4,700) |  |  | (3,631) |  |  | (1,313) |
Insurance |  | (58,982) |  |  | (46,334) |  |  | (25,770) |
Consultant and advisor services |  | (32,562) |  |  | (27,235) |  |  | (17,332) |
Variation in gross inventory |  | 20,024 |  |  | 628,671 |  |  | 85,709 |
Variation in inventory provision |  | (29,711) |  |  | (27,324) |  |  | 5,038 |
Other expenses |  | (129,653) |  |  | (85,828) |  |  | (31,736) |
Total expenses by nature |  | (4,661,601) |  |  | (5,192,568) |  |  | (1,951,706) |
Schedule of finance expenses |
|  | For the period from January to December of the year
Finance expenses |  | 2023 |  | 2022 |  | 2021
|  | ThUS$ |  | ThUS$ |  | ThUS$
Interest expense from bank borrowings and overdrafts |  | (3,890) |  |  | (3,065) |  |  | (2,664) |
Interest expense from bonds |  | (106,871) |  |  | (108,387) |  |  | (90,859) |
Interest expense from loans |  | (55,926) |  |  | (2,098) |  |  | (1,135) |
Reversal of capitalized interest expenses |  | 43,331 |  | 24,708 |  | 14,206
Financial expenses for restoration and rehabilitation provisions |  | 2,368 |  | 9,357 |  |  | (1,259)
Interest on lease agreement |  | (2,038) |  |  | (1,226) |  |  | (1,587) |
Other finance costs |  | (15,376) |  |  | (5,940) |  |  | (1,328) |
Total |  | (138,402) |  |  | (86,651) |  |  | (84,626) |
Schedule of finance income |
|  | For the period from January to December of the year
Finance income |  | 2023 |  | 2022 |  | 2021
|  | ThUS$ |  | ThUS$ |  | ThUS$
Interest from term deposits |  | 81,981 |  |  | 31,122 |  |  | 3,635 |
Interest from marketable securities |  | 31,920 |  |  | 10,252 |  |  | 68 |
Interest from maintenance of minimum bank balance in current account |  | 12 |  |  | 6 |  |  | 2 |
Other finance income |  | 4,614 |  |  | 3,318 |  |  | 107 |
Other finance interests |  | 4,199 |  |  | 2,340 |  |  | 856 |
Total |  | 122,726 |  |  | 47,038 |  |  | 4,668 |

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