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Material partly-owned subsidiaries

12 Months Ended

Dec. 31, 2017

Material Partly-owned Subsidiaries

Material partly-owned subsidiaries

28.

Material partly-owned subsidiaries

Financial information of subsidiaries that have material non-controlling interests is provided below:

(a)

Proportion of equity interest held by non-controlling interests:

Name		Country of incorporation and operation		2017 %				2016 %

Fosfatos del Pacífico S.A., note 1.1		Peru			—				30.00
Salmueras Sudamericanas S.A.		Peru			25.10				25.10

(b)

Accumulated balances of material non-controlling interest:

		2017				2016
		S/(000)				S/(000)

Fosfatos del Pacífico S.A., note 1.1			—				100,722
Salmueras Sudamericanas S.A., note 1.2			147				11,867

(c)

Loss allocated to material non-controlling interest:

		2017				2016				2015
		S/(000)				S/(000)				S/(000)

Fosfatos del Pacífico S.A.			365				2,703				2,992
Salmueras Sudamericanas S.A.			12,786				577				873

(d)

The summarized financial information of these subsidiaries is provided below. This information is based on amounts before inter-company transactions’ eliminations:

Summarized statement of profit or loss for the year ended December 31:

		Fosfatos del Pacífico S.A.				Salmueras Sudamericanas S.A.
		S/(000)				S/(000)

2017
Sales of goods			11				—
Cost of sales			(626	)			—
Administrative expenses			(1,068	)			(3,864	)
Other income (expenses)			153				(40,816	)
Finance (expense) income			(237	)			3
Loss before tax			(1,767	)			(44,677	)
Income tax			551				(6,265	)

Total comprehensive loss			(1,216	)			(50,942	)

Attributable to non-controlling interest			(365	)			(12,786	)

2016
Sales of goods			1,965				—
Cost of sales			(6,881	)			—
Administrative expenses			(8,694	)			(3,829	)
Other (expenses) income			(1,006	)			52
Finance expense			(793	)			(114	)
Loss before tax			(15,409	)			(3,891	)
Income tax			6,399				1,591

Total comprehensive loss			(9,010	)			(2,300	)

Attributable to non-controlling interest			(2,703	)			(577	)

		Fosfatos del Pacífico S.A.				Salmueras Sudamericanas S.A.
		S/(000)				S/(000)

2015
Administrative expenses			(11,775	)			(4,257	)
Other expenses			(212	)			(2	)
Finance (expense) income			(1,126	)			14
Loss before tax			(13,113	)			(4,245	)
Income tax			3,141				767

Total comprehensive income			(9,972	)			(3,478	)
Attributable to non-controlling interest			(2,992	)			(873	)

Summarized statement of financial position as of December 31:

		Fosfatos del Pacífico S.A.				Salmueras Sudamericanas S.A.
		S/(000)				S/(000)

2017
Cash, inventories and other current assets			—				587

Total equity			—				587

Attributable to:
Equity holders of parent			—				440
Non-controlling interest			—				147

2016
Cash, inventories and other current assets			14,450				593
Other receivables, property, plant and equipment and other non-current assets			324,786				47,068
Trade and other payables current			(3,495	)			(382	)

Total equity			335,741				47,279

Attributable to:
Equity holders of parent			235,019				35,412
Non-controlling interest			100,722				11,867

Summarized statement of cash flow for the year ended December31:

		Fosfatos del Pacífico S.A.				Salmueras Sudamericanas S.A.
		S/(000)				S/(000)

2017
Net cash flows used in operating activities			(2,611	)			(4,134	)
Net cash flows (used in) provided from investing activities			(6,410	)			—
Net cash flows provided from financing activities			5,953				4,250

Net (decrease) increase in cash and cash equivalents			(3,068	)			116

2016
Net cash flows used in operating activities			(17,332	)			(3,870	)
Net cash flows used in investing activities			(22,352	)			83
Net cash flows provided from financing activities			39,200				4,100

Net increase (decrease) in cash and cash equivalents			(484	)			313

2015
Net cash flows used in operating activities			(21,950	)			(4,490	)
Net cash flows used in investing activities			(55,495	)			—
Net cash flows provided from financing activities			82,676				2,400

Net (decrease) increase in cash and cash equivalents			5,231				(2,090	)