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Employee Benefits (Tables)

12 Months Ended

Dec. 31, 2018

As of

December 31, 2018 and 2017

, the total staff benefits recorded in the Consolidated Statement of Financial Position is detaileds as follows:

	As of December 31, 2018				As of December 31, 2017
Employees’ Benefits	Current		Non current		Current		Non current
	ThCh $		ThCh $		ThCh $		ThCh $
Short term benefits		31,600,044		-		26,050,387		-
Employment termination benefits		194,119		26,901,088		182,106		23,517,009
Total		31,794,163		26,901,088		26,232,493		23,517,009

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, 2018		As of December 31, 2017
	ThCh $		ThCh $
Vacation		10,518,298		9,932,727
Bonus and compensation		21,081,746		16,117,660
Total		31,600,044		26,050,387

The obligation recorded for severance indemnity is detailed as follows:

The change in the severance indemnity is detailed as follows:

(1)

See

Note 15 – Business combinations, letter a)

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	2018		2017		2016
	ThCh $		ThCh $		ThCh $
Current cost of service		2,154,071		1,942,099		1,650,484
Past service cost		306,746		604,337		342,039
Non-provided paid benefits		6,547,694		6,023,869		7,851,201
Other		175,005		269,377		1,114,112
Total expense recognized in Consolidated Statement of Income		9,183,516		8,839,682		10,957,836

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, 2018		As of December 31, 2017		As of December 31, 2018		As of December 31, 2017

Mortality table				RV-2014		RV-2014		Gam,83		Gam '83
Annual interest rate				5,69%		5,96%		34,62%		24,55%
Voluntary employee turnover rate				1,9%		1,9%		"ESA 77 Ajustada" - 50%		"ESA 77 Ajustada" - 50%
Company’s needs rotation rate				5,3%		5,3%		"ESA 77 Ajustada" - 50%		"ESA 77 Ajustada" - 50%
Salary increase (*)				3,7%		3,7%		28,27%		18,68%
	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, 2018			As of December 31, 2017
	ThCh $			ThCh $
1% increase in the Discount Rate (Gain)		1,623,794			1,457,410
1% decrease in the Discount Rate (Loss)		(1,880,258	)		(1,684,968	)

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

	For the years ended as of December 31,
Personal expense	2018		2017		2016
	ThCh $		ThCh $		ThCh $
Salaries		159,246,822		151,944,702		145,766,757
Employees’ short-term benefits		31,528,110		27,588,955		23,189,206
Total expenses for short-term employee benefits		190,774,932		179,533,657		168,955,963
Employments termination benefits		9,183,516		8,839,682		10,957,836
Other staff expense		32,183,184		32,485,170		30,971,754
Total (1)		232,141,632		220,858,509		210,885,553

(1)

See

Note 29 – Natures of cost and expense