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Right-of-use assets and Lease liabilities

12 Months Ended

Dec. 31, 2024

Right-Of-Use Assets And Lease Liabilities

Right-of-use assets and Lease liabilities

Right-of-use assets and Lease liabilities

13.1    Right-of-use assets

Reconciliation of changes in right-of-use assets as of December 31, 2024, net value						Land						Buildings						Other property, plant and equipment						Transport equipment						Machinery, plant and equipment						Total
						ThUS$						ThUS$						ThUS$						ThUS$						ThUS$						ThUS$
Opening Balance						18,299						25,458						—						855						28,581						73,193
Additions						110						12,247						—						1,245						19,435						33,037
Depreciation expenses						(738)						(7,150)						—						(1,129)						(13,648)						(22,665)
Transfer to property, plant and equipment						—						—						—						—						—						—
Other increases (decreases)						992						(7)						—						242						(722)						505
Total changes						364						5,090						—						358						5,065						10,877
Closing balance						18,663						30,548						—						1,213						33,646						84,070

Reconciliation of changes in right-of-use assets as of December 31, 2023, net value						Land						Buildings						Other property, plant and equipment						Transport equipment						Machinery, plant and equipment						Total
						ThUS$						ThUS$						ThUS$						ThUS$						ThUS$						ThUS$
Opening Balance						18,320						17,839						—						1,805						22,903						60,867
Additions						894						13,714						—						37						18,686						33,331
Depreciation expenses						(687)						(4,509)						—						(987)						(11,088)						(17,271)
Transfer to property, plant and equipment						—						—						—						—						—						—
Other increases (decreases)						(228)						(1,586)						—						—						(1,920)						(3,734)
Total changes						(21)						7,619						—						(950)						5,678						12,326
Closing balance						18,299						25,458						—						855						28,581						73,193

The Company’s lease activities included the following aspects:

(a)The nature of the Company’s lease activities is related to contracts focused primarily on business operations, mainly rights-of-use to equipment and real estate,

(b)The Company does not estimate any significant future cash outflows that would potentially expose the Company, and these are likewise not reflected in the measurement of lease liabilities, related to concepts such as: (i) Variable lease payments, (ii) Extension options and termination options, (iii) Guaranteed residual value and (iv) Leases not yet undertaken but committed by the Company.

(c)These are not subject to restrictions or agreements imposed by contracts.

There were no sales transactions with leases later in the period.

13.2    Lease liabilities

Lease liabilities

As of December 31, 2024

As of December 31, 2023

Current

Non-Current

Current

Non-Current

ThUS$

ThUS$

ThUS$

ThUS$

Lease liabilities

23,011

60,801

18,192

56,966

Total

23,011

60,801

18,192

56,966

i)    Current and non-current lease liabilities

(a)    As of December 31, 2024 and 2023, current lease liabilities are analyzed as follows:

Debtor																		Creditor						Contract indexation unit						Effective rate						Nominal amounts as of December 31,2024																		Nominal amounts as of December 31,2024
Tax ID No.						Company						Country						Supplier																		Up to 90 days						90 days to 1 year						Total						Up to 90 days						90 days to 1 year						Total
																																				ThUS$						ThUS$						ThUS$						ThUS$						ThUS$						ThUS$
79.626.800-K						SQM Salar SpA						Chile						Contract supplier						Peso						3.42%						2,813						8,438						11,251						2,482						7,591						10,073
79.626.800-K						SQM Salar SpA						Chile						Contract supplier						UF						2.47%						361						1,065						1,426						339						1,017						1,356
79.947.100-0						SQM Industrial S.A.						Chile						Contract supplier						Peso						3.52%						65						58						123						64						56						120
79.947.100-0						SQM Industrial S.A.						Chile						Contract supplier						UF						2.45%						658						1,911						2,569						589						1,724						2,313
79.768.170-9						Soquimich Comercial S.A.						Chile						Contract supplier						UF						3.75%						336						954						1,290						324						874						1,198
76.359.919-1						Orcoma SpA						Chile						Contract supplier						Peso						6.80%						2						7						9						2						4						6
76.359.919-1						Orcoma SpA						Chile						Contract supplier						UF						2.35%						1						1						2						1						1						2
Foreign						SQM Australia Pty						Australia						Contract supplier						Australian dollar						5.36%						687						1,999						2,686						683						1,989						2,672
Foreign						SQM Comercial de México S.A. de C.V.						Mexico						Contract supplier						Dollar						5.05%						734						1,455						2,189						692						1,370						2,062
Foreign						SQM Comercial de México S.A. de C.V.						Mexico						Contract supplier						Mexican Peso						6.37%						317						537						854						290						475						765
Foreign						SQM Europe N.V.						Belgium						Contract supplier						Euro						3.07%						121						364						485						97						296						393
Foreign						SQM North América Corp.						United States						Contract supplier						Dollar						5.25%						74						221						295						68						204						272
Foreign						SQM África Pty						South Africa						Contract supplier						Rand						9.20%						370						929						1,299						316						823						1,139
Foreign						SQM Colombia S.A.S.						Colombia						Contract supplier						Colombian Peso						12.86%						66						200						266						66						200						266
Foreign						SQM Iberian						Spain						Contract supplier						Euro						3.25%						15						46						61						14						44						58
Foreign						SQM Comercial Perú S.A.C.						Peru						Contract supplier						Dollar						6.83%						31						91						122						31						91						122
Foreign						SQM India Private Limited						India						Contract supplier						INR						2.84%						9						26						35						9						26						35
Foreign						SQM Comercial Brasil						Brazil						Contract supplier						Brazilian real						2.55%						5						13						18						4						13						17
Foreign						SQM Japan Co. Ltd.						Japan						Contract supplier						JPY						2.38%						7						21						28						7						21						28
Foreign						SQM Shanghái Industrial Co						China						Contract supplier						CNY						2.46%						30						90						120						28						86						114
Total																																				6,702						18,426						25,128						6,106						16,905						23,011

Debtor																		Creditor						Contract indexation unit						Effective rate						Nominal amounts as of December 31,2023																		Nominal amounts as of December 31,2023
Tax ID No.						Company						Country						Supplier																		Up to 90 days						90 days to 1 year						Total						Up to 90 days						90 days to 1 year						Total
																																				ThUS$						ThUS$						ThUS$						ThUS$						ThUS$						ThUS$
93.007.000-9						SQM S.A.						Chile						Contract supplier						UF						3.49%						20						46						66						19						46						65
79.626.800-K						SQM Salar S.A.						Chile						Contract supplier						Peso						3.02%						344						1,034						1,378						321						977						1,298
79.626.800-K						SQM Salar S.A.						Chile						Contract supplier						UF						2.54%						1,492						4,040						5,532						1,400						3,718						5,118
79.947.100-0						SQM Industrial S.A.						Chile						Contract supplier						UF						2.58%						726						1,863						2,589						645						1,640						2,285
96.592.190-7						SQM Nitratos S.A.						Chile						Contract supplier						UF						3.49%						18						43						61						18						42						60
79.768.170-9						Soquimich Comercial S.A.						Chile						Contract supplier						UF						2.97%						374						1,123						1,497						336						956						1,292
76.359.919-1						Orcoma SpA						Chile						Contract supplier						Peso						6.16%						2						7						9						2						2						4
76.359.919-1						Orcoma SpA						Chile						Contract supplier						UF						6.80%						1						2						3						1						2						3
Foreign						SQM Australia Pty						Australia						Contract supplier						Australian dollar						4.93%						725						1,896						2,621						721						1,884						2,605
Foreign						SQM Comercial de México S.A. de C.V.						Mexico						Contract supplier						Dollar						3.74%						711						2,131						2,842						633						1,953						2,586
Foreign						SQM Comercial de México S.A. de C.V.						Mexico						Contract supplier						Mexican peso						9.73%						262						789						1,051						240						747						987
Foreign						SQM Europe N.V.						Belgium						Contract supplier						Euro						1.30%						121						364						485						94						287						381
Foreign						SQM North América Corp.						United States						Contract supplier						Dollar						3.67%						106						267						373						97						244						341
Foreign						SQM África Pty						South Africa						Contract supplier						Rand						9.20%						344						1,007						1,351						267						820						1,087
Foreign						SQM Colombia S.A.S.						Colombia						Contract supplier						Colombian peso						2.45%						5						17						22						5						17						22
Foreign						SQM Iberian						Spain						Contract supplier						Euro						3.25%						15						48						63						14						44						58
Total																																				5,266						14,677						19,943						4,813						13,379						18,192

(b)    As of December 31, 2024 and 2023, the non-current lease liabilities are analyzed as follows:

Debtor																		Creditor						Contract indexation unit						Effective rate						Nominal amounts as of December 31,2024																								Amounts at amortized cost as of December 31, 2024
Tax ID No.						Company						Country						Supplier																		1-2 Years						2-3 Years						3-4 Years						Total						1-2 Years						2-3 Years						3-4 Years						Total
																																				ThUS$						ThUS$						ThUS$						ThUS$						ThUS$						ThUS$						ThUS$						ThUS$
79.626.800-K						SQM Salar SpA						Chile						Contract supplier						Peso						3.42%						17,661						5,100						—						22,761						16,676						4,968						—						21,644
79.626.800-K						SQM Salar SpA						Chile						Contract supplier						UF						2.39%						1,565						308						—						1,873						1,505						306						—						1,811
79.947.100-0						SQM Industrial S.A.						Chile						Contract supplier						Peso						6.02%						37						—						—						37						36						—						—						36
79.947.100-0						SQM Industrial S.A.						Chile						Contract supplier						UF						3.10%						3,730						4,040						—						7,770						3,382						3,905						—						7,287
79.768.170-9						Soquimich Comercial S.A.						Chile						Contract supplier						UF						4.23%						1,650						362						—						2,012						1,574						357						—						1,931
76.359.919-1						Orcoma SpA						Chile						Contract supplier						Peso						6.80%						18						26						28						72						11						19						25						55
Foreign						SQM North América Corp.						United States						Contract supplier						Dollar						5.52%						562						6						—						568						542						6						—						548
Foreign						SQM Comercial de México S.A. de C.V.						Mexico						Contract supplier						Mexican peso						9.75%						766						574						—						1,340						663						549						—						1,212
Foreign						SQM Comercial de México S.A. de C.V.						Mexico						Contract supplier						Dollar						4.46%						1,521						—						—						1,521						1,489						—						—						1,489
Foreign						SQM Australia Pty						Australia						Contract supplier						Australian dollar						5.29%						3,253						15,998						—						19,251						3,249						15,998						—						19,247
Foreign						SQM África Pty						South Africa						Contract supplier						Rand						9.43%						1,222						—						—						1,222						1,105						—						—						1,105
Foreign						SQM Colombia S.A.S.						Colombia						Contract supplier						Colombian peso						14.83%						1,200						—						—						1,200						1,198						—						—						1,198
Foreign						SQM Europe N.V.						Belgium						Contract supplier						Euro						3.07%						970						1,455						647						3,072						823						1,332						633						2,788
Foreign						SQM Iberian						Spain						Contract supplier						Euro						3.25%						76						16						—						92						60						16						—						76
Foreign						SQM Comercial Perú S.A.C.						Peru						Contract supplier						Dollar						8.01%						94						—						—						94						94						—						—						94
Foreign						SQM Soquimich Brasil						Brazil						Contract supplier						Brazilian real						2.62%						21						—						—						21						21						—						—						21
Foreign						SQM India Private Limited						India						Contract supplier						INR						2.84%						18						—						—						18						18						—						—						18
Foreign						SQM Japan Co. Ltd.						Japan						Contract supplier						JPY						2.38%						14						—						—						14						14						—						—						14
Foreign						SQM Shanghái Industrial Co						China						Contract supplier						CNY						2.46%						231						—						—						231						227						—						—						227
Total																																				34,609						27,885						675						63,169						32,687						27,456						658						60,801

Debtor																		Creditor						Contract indexation unit						Effective rate						Nominal amounts as of December 31,2023																								Amounts at amortized cost as of December 31, 2023
Tax ID No.						Company						Country						Supplier																		1-2 Years						2-3 Years						3-4 Years						Total						1-2 Years						2-3 Years						3-4 Years						Total
																																				ThUS$						ThUS$						ThUS$						ThUS$						ThUS$						ThUS$						ThUS$						ThUS$
79.626.800-K						SQM Salar S.A.						Chile						Contract supplier						Peso						2.61%						1,176						1,079						—						2,255						1,133						1,064						—						2,197
79.626.800-K						SQM Salar S.A.						Chile						Contract supplier						UF						2.88%						6,185						3,728						—						9,913						5,901						3,630						—						9,531
79.947.100-0						SQM Industrial S.A.						Chile						Contract supplier						UF						2.06%						3,799						5,594						311						9,704						3,348						5,312						310						8,970
79.768.170-9						Soquimich Comercial S.A.						Chile						Contract supplier						UF						2.97%						1,844						969						181						2,994						2,020						938						173						3,131
76.359.919-1						Orcoma SpA						Chile						Contract supplier						Peso						6.80%						18						26						37						81						8						12						41						61
Foreign						SQM North América Corp.						United States						Contract supplier						Dollar						4.99%						524						265						—						789						484						260						—						744
Foreign						SQM Comercial de México S.A. de C.V.						Mexico						Contract supplier						Mexican Peso						6.79%						91						—						—						91						90						—						—						90
Foreign						SQM Comercial de México S.A. de C.V.						Mexico						Contract supplier						Dollar						5.25%						3,197						1,131						—						4,328						3,040						1,105						—						4,145
Foreign						SQM Australia Pty						Australia						Contract supplier						Australian dollar						4.92%						5,624						18,236						—						23,860						5,618						16,916						—						22,534
Foreign						SQM África Pty						South Africa						Contract supplier						Rand						9.20%						1,276						591						659						2,526						1,182						483						581						2,246
Foreign						SQM Colombia S.A.S.						Colombia						Contract supplier						Colombian peso						2.17%						1						—						—						1						1						—						—						1
Foreign						SQM Europe N.V						Belgium						Contract supplier						Euro						1.30%						485						485						2,586						3,556						393						405						2,383						3,181
Foreign						SQM Iberian						Spain						Contract supplier						Euro						3.25%						61						61						16						138						58						60						17						135
Total																																				24,281						32,165						3,790						60,236						23,276						30,185						3,505						56,966

Other lease disclosures

Total lease expenses related to lease payments that did not qualify under the scope of IFRS 16 were ThUS$ 86,872, ThUS$ 88,754 and ThUS$ 78,880 for the periods ended December 31, 2024, 2023 and 2022. See Note 20.8.

Expenses related to variable payments not included in lease liabilities were ThUS$6,138, ThUS$4,700 and ThUS$3,631 for the periods ending December 31, 2024, 2023 and 2022.

Income from subleases on right-of-use assets were ThUS$0, ThUS$5 and ThUS$142 as of December 31, 2024, 2023 and 2022, respectively.

Payments for contractual operating leases are disclosed in Note 4.2 Liquidity Risk.

X

- Definition

The entire disclosure for leases.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 16
-IssueDate 2024-01-01
-Section Presentation
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=16&code=ifrs-tx-2024-en-r&doctype=Standard&dita_xref=IFRS16_g47-50_TI
-URIDate 2024-03-27

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 16
-IssueDate 2024-01-01
-Section Disclosure
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=16&code=ifrs-tx-2024-en-r&doctype=Standard&dita_xref=IFRS16_g51-60_TI
-URIDate 2024-03-27

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X

- References

No definition available.

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