Employee Benefits (Tables)

12 Months Ended

Dec. 31, 2017

As of December 31, 2017 and 2016, the total staff benefits recorded in the Consolidated Statement of Financial Position is detaileds as follows:

	As of December 31, 2017				As of December 31, 2016
Employees’ Benefits	Current		Non current		Current		Non current
	ThCh$		ThCh$		ThCh$		ThCh$
Short term benefits		26,050,387		-		22,517,220		-
Employment termination benefits		182,106		23,517,009		321,008		21,832,415
Total		26,232,493		23,517,009		22,838,228		21,832,415

The total short-term benefits recorded in the Consolidated Statement of Financial Position are detailed as follows:

Short-Term Employees’ Benefits	As of December 31, 2017		As of December 31, 2016
	ThCh$		ThCh$
Vacation		9,932,727		9,405,040
Bonus and compensation		16,117,660		13,112,180
Total		26,050,387		22,517,220

The obligation recorded for severance indemnity is detailed as follows:

The change in the severance indemnity is detailed as follows:

The figures recorded in the Consolidated Statement of Income, are detailed as follows:

	For the years ended as of December 31,
Expense recognized for severance indemnity	2017		2016		2015
	ThCh$		ThCh$		ThCh$
Current cost of service		1,942,099		1,650,484		1,023,969
Past service cost		604,337		342,039		131,204
Accrued paid benefit		6,023,869		7,851,201		4,377,570
Other		269,377		1,114,112		646,502
Total expense recognized in Consolidated Statement of Income		8,839,682		10,957,836		6,179,245

The main actuarial assumptions used for the calculation of the severance indemnity obligation are detailed as follows:

			Chile		Argentina
Actuarial Assumptions			As of December 31,		As of December 31,
			2017	2016	2017	2016
Mortality table			RV-2014	RV-2014	Gam '83	Gam '83
Annual interest rate			5.96%	5.52%	24.55%	31.88%
Voluntary employee turnover rate			1.90%	1.90%	"ESA 77 Ajustada" - 50%	"ESA 77 Ajustada" - 50%
Company’s needs rotation rate			5.30%	5.30%	"ESA 77 Ajustada" - 50%	"ESA 77 Ajustada" - 50%
Salary increase (*)			3.70%	3.70%	18.68%	26.25%
	Officers		60	60	60	60
Estimated retirement age for (*)	Other	Male	65	65	65	65
		Female	60	60	60	60

(*) Average of the Company.

The Following is a sensitivity analysis based on increased (decreased) of 1 percent on the discount rate:

Sensitivity Analysis	As of December 31, 2017		As of December 31, 2016
	ThCh$		ThCh$
1% increase in the Discount Rate (Gain)		1,457,410		1,421,484
1% decrease in the Discount Rate (Loss)		(1,684,968)		(1,649,255)

The amounts recorded in the Consolidated Statement of Income are detailed as follows:

	For the years ended as of December 31,
Personal expense	2017		2016		2015
	ThCh$		ThCh$		ThCh$
Salaries		151,944,702		145,766,757		138,359,074
Employees’ short-term benefits		27,588,955		23,189,206		24,693,325
Employments termination benefits		8,839,682		10,957,836		6,179,245
Other staff expense		32,485,170		30,971,754		28,683,507
Total (1)		220,858,509		210,885,553		197,915,151

(1) See Note 29.