Cover Page
Cover Page | 12 Months Ended |
Dec. 31, 2023 shares | |
Document Information [Line Items] | |
Document Type | 20-F |
Document Registration Statement | false |
Document Annual Report | true |
Document Period End Date | Dec. 31, 2023 |
Current Fiscal Year End Date | --12-31 |
Document Transition Report | false |
Document Shell Company Report | false |
Entity File Number | 33-65728 |
Entity Registrant Name | CHEMICAL & MINING CO OF CHILE INC |
Entity Address, Address Line One | El Trovador 4285 |
Entity Address, Address Line Two | 6th floor |
Entity Address, City or Town | Santiago |
Entity Address, Country | CL |
Entity Address, Postal Zip Code | 7550079 |
Title of 12(b) Security | Series B common shares, in the form of American Depositary Shares each representing one Series B share |
Trading Symbol | SQM |
Security Exchange Name | NYSE |
Entity Well-known Seasoned Issuer | Yes |
Entity Voluntary Filers | No |
Entity Current Reporting Status | Yes |
Entity Interactive Data Current | Yes |
Entity Filer Category | Large Accelerated Filer |
Entity Emerging Growth Company | false |
ICFR Auditor Attestation Flag | true |
Document Financial Statement Error Correction [Flag] | false |
Document Accounting Standard | International Financial Reporting Standards |
Entity Shell Company | false |
Entity Central Index Key | 0000909037 |
Document Fiscal Year Focus | 2023 |
Document Fiscal Period Focus | FY |
Amendment Flag | false |
Entity Incorporation, State or Country Code | F3 |
Auditor Name | PricewaterhouseCoopers Consultores Auditores y Compañía Limitada |
Auditor Firm ID | 1364 |
Auditor Location | Santiago, Chile |
Series A Common Shares | |
Document Information [Line Items] | |
Entity Common Stock, Shares Outstanding | 142,819,552 |
Series B Common Shares | |
Document Information [Line Items] | |
Entity Common Stock, Shares Outstanding | 142,818,904 |
Business Contact [Member] | |
Document Information [Line Items] | |
Entity Address, Address Line One | El Trovador 4285 |
Entity Address, Address Line Two | 6th floor |
Entity Address, City or Town | Santiago |
Entity Address, Country | CL |
Contact Personnel Name | Gerardo Illanes |
City Area Code | 56 |
Local Phone Number | 2 2425-2485 |
Contact Personnel Email Address | gerardo.illanes@sqm.com |
Entity Address, Postal Zip Code | 7550079 |
Consolidated Statements of Fina
Consolidated Statements of Financial Position $ in Thousands, $ in Thousands | Dec. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) |
Current Assets | ||
Cash and cash equivalents | $ 1,041,369 | $ 2,655,236 |
Other current financial assets | 1,325,843 | 961,355 |
Other current non-financial assets | 136,750 | 196,335 |
Trade and other receivables, current | 907,181 | 1,087,420 |
Trade receivables due from related parties, current | 43,253 | 81,622 |
Current inventories | 1,774,594 | 1,784,281 |
Current tax assets | 637,033 | 224,914 |
Total current assets other than those classified as held for sale or disposal | 5,866,023 | 6,991,163 |
Non-current assets or groups of assets classified as held for sale | 118 | 346 |
Total non-current assets held for sale | 118 | 346 |
Total current assets | 5,866,141 | 6,991,509 |
Non-current assets | ||
Other non-current financial assets | 248,281 | 32,126 |
Other non-current non-financial assets | 373,700 | 52,396 |
Non-current trade receivables | 2,559 | 2,091 |
Investments accounted for under the equity method | 86,417 | 54,386 |
Intangible assets other than goodwill | 155,874 | 166,336 |
Goodwill | 958 | 967 |
Property, plant and equipment, net | 3,609,937 | 2,726,838 |
Right-of-use assets | 73,193 | 60,867 |
Non-current tax assets | 59,541 | 127,114 |
Deferred tax assets | 302,236 | 604,471 |
Total non-current assets | 4,912,696 | 3,827,592 |
Total assets | 10,778,837 | 10,819,101 |
Current liabilities | ||
Other current financial liabilities | 1,256,499 | 522,999 |
Lease liabilities, current | 18,192 | 12,149 |
Trade and other payables, current | 449,633 | 374,789 |
Current trade payables due to related parties | 2,346 | 0 |
Other current provisions | 392,322 | 1,303,146 |
Current tax liabilities | 183,633 | 356,611 |
Provisions for employee benefits, current | 23,946 | 35,376 |
Other current non-financial liabilities | 187,305 | 446,477 |
Total current liabilities | 2,513,876 | 3,051,547 |
Non-current liabilities | ||
Other non-current financial liabilities | 3,213,422 | 2,394,218 |
Non-current lease liabilities | 56,966 | 49,585 |
Other non-current provisions | 60,450 | 58,053 |
Deferred tax liabilities | 394,688 | 289,825 |
Non-current provisions for employee benefits | 62,006 | 43,872 |
Total non-current liabilities | 3,787,532 | 2,835,553 |
Total liabilities | 6,301,408 | 5,887,100 |
Equity attributable to owners of the Parent | ||
Share capital | 1,577,643 | 1,577,643 |
Retained earnings | 2,748,686 | 3,350,114 |
Other reserves | 114,870 | (31,125) |
Equity attributable to owners of the Parent | 4,441,199 | 4,896,632 |
Non-controlling interests | 36,230 | 35,369 |
Total equity | 4,477,429 | 4,932,001 |
Total liabilities and equity | $ 10,778,837 | $ 10,819,101 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Profit or loss [abstract] | |||
Revenue | $ 7,467,490 | $ 10,710,578 | $ 2,862,315 |
Cost of sales | (4,392,436) | (4,973,953) | (1,772,208) |
Gross profit | 3,075,054 | 5,736,625 | 1,090,107 |
Other income | 40,557 | 9,854 | 19,552 |
Administrative expenses | (175,765) | (142,644) | (118,893) |
Other expenses | (93,400) | (75,971) | (60,605) |
Impairment of financial assets and reversal of impairment losses | 202 | 3,369 | (235) |
Other (losses) gains | (2,254) | 117 | (2,638) |
Income from operating activities | 2,844,394 | 5,531,350 | 927,288 |
Finance income | 122,726 | 47,038 | 4,668 |
Finance costs | (138,402) | (86,651) | (84,626) |
Share of profit of associates and joint ventures accounted for using the equity method | 593 | 20,159 | 11,132 |
Foreign currency translation differences | (22,293) | (25,400) | (17,241) |
Income before taxes | 2,807,018 | 5,486,496 | 841,221 |
Income tax expense | (1,876,751) | (1,572,212) | (249,016) |
Net income | 930,267 | 3,914,284 | 592,205 |
Net income attributable to: | |||
Net income attributable to owners of the parent | 923,191 | 3,906,311 | 585,454 |
Net income attributable to non-controlling interests | 7,076 | 7,973 | 6,751 |
Net income | $ 930,267 | $ 3,914,284 | $ 592,205 |
Earnings per share | |||
Basic earnings per share (in USD per share) | $ 3.2320 | $ 13.6757 | $ 2.1048 |
Diluted earnings per share (in USD per share) | $ 3.2320 | $ 13.6757 | $ 2.1048 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Statement of comprehensive income [abstract] | |||
Net income | $ 930,267 | $ 3,914,284 | $ 592,205 |
Items of other comprehensive income that will not be reclassified to income for the year, before taxes | |||
(Losses) gain from measurements of defined benefit plans | (5,843) | (6,350) | 4,679 |
Gains (losses) from financial assets measured at fair value through other comprehensive income | 190,509 | 190 | (12,072) |
Total other comprehensive income that will not be reclassified to income for the year, before taxes | 184,666 | (6,160) | (7,393) |
Items of other comprehensive income that will be reclassified to income for the year, before taxes | |||
Foreign currency exchange gains (losses) | 3,177 | (255) | 4,240 |
Cash flow hedges- effective portion of changes in far value | 126 | 36,079 | (66,051) |
Cash flow hedges-reclassified to income for the year | 18,566 | (9,457) | 13,289 |
Total other comprehensive income that will be reclassified to income for the year | 21,869 | 26,367 | (48,522) |
Other items of other comprehensive income, before taxes | 206,535 | 20,207 | (55,915) |
Income taxes related to items of other comprehensive income that will not be reclassified to income for the year | |||
Income tax benefit (expense) relating to measurement of defined benefit pension plans through other comprehensive income | 1,582 | 1,273 | (142) |
Income tax (expense) benefit relating to gains (losses) on financial assets measured irrevocably at fair value through other comprehensive income | (57,242) | (17) | 3,818 |
Total income tax (expense) benefit relating to components of other comprehensive income that will not be reclassified to income for the year | (55,660) | 1,256 | 3,676 |
Income taxes relating to components of other comprehensive income that will be reclassified to income for the year | |||
Income tax (expense) benefit related to gains (losses) from cash flow hedges | (5,047) | (7,172) | 14,246 |
Total income tax (expense) benefit relating to components of other comprehensive income that will be reclassified to income for the year | (5,047) | (7,172) | 14,246 |
Total other comprehensive income (loss) | 145,828 | 14,291 | (37,993) |
Total comprehensive income | 1,076,095 | 3,928,575 | 554,212 |
Comprehensive income attributable to | |||
Comprehensive income attributable to owners of the parent | 1,068,968 | 3,920,781 | 546,846 |
Comprehensive income attributable to non-controlling interest | $ 7,127 | $ 7,794 | $ 7,366 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | ||
Classes of cash receipts generated from operating activities | ||||
Cash receipts from sales of goods and rendering of services | $ 8,162,698 | $ 10,954,251 | $ 2,705,250 | |
Cash receipts from premiums and benefits, annuities and other benefits from policies entered | 0 | 1,345 | 1,902 | |
Cash receipts derived from sub-leases | 89 | 129 | 443 | |
Classes of Payments | ||||
Cash payments to suppliers for the provision of goods and services | (5,637,224) | (5,255,694) | (1,713,922) | |
Cash payments relating to variable leases | (4,700) | (3,631) | (1,313) | |
Other payments related to operating activities | (86,291) | (24,148) | (16,726) | |
Net cash generated from operating activities | 2,434,572 | 5,672,252 | 975,634 | |
Dividends received | 9,328 | 6,354 | 11,663 | |
Interest paid | (121,222) | (109,697) | (82,816) | |
Interest paid on lease liabilities | (2,038) | (1,226) | (1,587) | |
Interest received | 103,352 | 48,120 | 2,747 | |
Income taxes paid | (2,309,640) | (1,648,668) | (142,730) | |
Other cash (outflows) inflows | [1] | (310,991) | 110,460 | 59,609 |
Net cash generated from operating activities | (196,639) | 4,077,595 | 822,520 | |
Cash flows generated from (used in) investing activities | ||||
Proceeds from the sale of equity instruments | 4,745 | 4,745 | 16,413 | |
Purchase of ownership interest in associates and joint ventures | (34,547) | 0 | 0 | |
Acquisition of non-current financial assets | (30,701) | 0 | 0 | |
Proceeds from the sale of property, plant and equipment | 44 | 112 | 672 | |
Acquisition of property, plant and equipment | (1,103,598) | (905,247) | (464,718) | |
Proceeds from sale of intangible assets | 5,205 | 3,624 | 14,773 | |
Proceeds related to futures, forward options and swap contracts | 18,034 | 39,878 | 2,328 | |
Loans to related parties | 3,387 | 873 | 13,086 | |
Proceeds from the sale of ownership interest in joint ventures | 0 | 0 | 13,085 | |
Purchases of other long-term assets | (12,002) | (11,341) | (8,071) | |
Other cash outflows | [2],[3] | (332,060) | (42,045) | (594,511) |
Cash flow used in investing activities | (1,481,493) | (909,401) | (1,006,943) | |
Cash flows generated from (used in) financing activities | ||||
Repayment of lease liabilities | (15,914) | (10,478) | (7,960) | |
Proceeds from long-term loans | 850,000 | 200,000 | 700,000 | |
Proceeds from short-term loans | 1,215,000 | 60,000 | 0 | |
Loan repayments | (530,717) | (13,117) | (14,870) | |
Proceeds (payments) from hedges associated to loans | 18,927 | (993) | 760 | |
Dividends paid | (1,471,035) | (2,238,381) | (571,702) | |
Capital stock increase | 0 | 0 | 1,100,257 | |
Net cash flow (used in) generated from financing activities | 66,261 | (2,002,969) | 1,206,485 | |
Net increase in cash and cash equivalents before the effect of changes in the exchange rate | (1,611,871) | 1,165,225 | 1,022,062 | |
Effects of exchange rate fluctuations on cash and cash equivalents | (1,996) | (25,040) | (16,113) | |
Increase in cash and cash equivalents | (1,613,867) | 1,140,185 | 1,005,949 | |
Cash and cash equivalents at beginning of year | 2,655,236 | 1,515,051 | 509,102 | |
Cash and cash equivalents at end of year | $ 1,041,369 | $ 2,655,236 | $ 1,515,051 | |
[1] Other (outflows) inflows of cash from operating activities include net increases (decreases) of value added tax and banking expenses, taxes associated with interest payments, costs of issuance of debt and government grants. Other cash outflows include investments and redemptions of time deposits and other financial instruments that do not qualify as cash and cash equivalent in accordance with IAS 7, paragraph 7, since they mature in more than 90 days from the original investment date. Other inflows (outflows) of cash from investing activities include guarantees deposits for the year 2022 described in note 12.2. |
Consolidated Statements of Chan
Consolidated Statements of Changes in Equity - USD ($) $ in Thousands | Total | Equity attributable to owners of the Parent | Share capital | Foreign currency translation reserve | Hedge reserve | Gains and losses from financial assets reserve | Actuarial gains and losses from defined benefit plans reserve | Accumulated other comprehensive income | Other miscellaneous reserves | Total reserves | Retained earnings | Non- controlling interests | |
Equity at beginning of the year at Dec. 31, 2020 | $ 2,162,578 | $ 2,123,085 | $ 477,386 | $ (11,569) | $ 4,491 | $ 6,872 | $ (8,680) | $ (8,886) | $ 16,318 | $ 7,432 | $ 1,638,267 | $ 39,493 | |
Changes in equity [abstract] | |||||||||||||
Net income | 592,205 | 585,454 | 585,454 | 6,751 | |||||||||
Other comprehensive income | (37,993) | (38,608) | 3,656 | (38,516) | (8,254) | 4,506 | (38,608) | (38,608) | 615 | ||||
Total comprehensive income | 554,212 | 546,846 | 3,656 | (38,516) | (8,254) | 4,506 | (38,608) | (38,608) | 585,454 | 7,366 | |||
Sale of equity instruments irrevocably recognized in OCI | (9,764) | (9,764) | (9,764) | 9,764 | |||||||||
Dividends | [1] | (597,861) | (585,453) | (585,453) | (12,408) | ||||||||
Capital stock increase | 1,100,257 | 1,100,257 | 1,100,257 | ||||||||||
Other (decrease) increases in equity | (3,215) | (3,215) | (3,215) | (3,215) | |||||||||
Total changes in equity | 1,053,393 | 1,058,435 | 1,100,257 | 3,656 | (38,516) | (18,018) | 4,506 | (48,372) | (3,215) | (51,587) | 9,765 | (5,042) | |
Equity at end of the year at Dec. 31, 2021 | 3,215,971 | 3,181,520 | 1,577,643 | (7,913) | (34,025) | (11,146) | (4,174) | (57,258) | 13,103 | (44,155) | 1,648,032 | 34,451 | |
Changes in equity [abstract] | |||||||||||||
Net income | 3,914,284 | 3,906,311 | 3,906,311 | 7,973 | |||||||||
Other comprehensive income | 14,291 | 14,470 | (129) | 19,450 | 173 | (5,024) | 14,470 | 14,470 | (179) | ||||
Total comprehensive income | 3,928,575 | 3,920,781 | (129) | 19,450 | 173 | (5,024) | 14,470 | 14,470 | 3,906,311 | 7,794 | |||
Dividends | [1] | (2,211,598) | (2,204,229) | (2,204,229) | (7,369) | ||||||||
Other (decrease) increases in equity | (947) | (1,440) | (1,440) | (1,440) | 493 | ||||||||
Total changes in equity | 1,716,030 | 1,715,112 | (129) | 19,450 | 173 | (5,024) | 14,470 | (1,440) | 13,030 | 1,702,082 | 918 | ||
Equity at end of the year at Dec. 31, 2022 | 4,932,001 | 4,896,632 | 1,577,643 | (8,042) | (14,575) | (10,973) | (9,198) | (42,788) | 11,663 | (31,125) | 3,350,114 | 35,369 | |
Changes in equity [abstract] | |||||||||||||
Net income | 930,267 | 923,191 | 923,191 | 7,076 | |||||||||
Other comprehensive income | 145,828 | 145,777 | 3,121 | 13,645 | 133,267 | (4,256) | 145,777 | 145,777 | 51 | ||||
Total comprehensive income | 1,076,095 | 1,068,968 | 3,121 | 13,645 | 133,267 | (4,256) | 145,777 | 145,777 | 923,191 | 7,127 | |||
Dividends | [1] | (1,530,885) | (1,524,619) | (1,524,619) | (6,266) | ||||||||
Other (decrease) increases in equity | 218 | 218 | 218 | 218 | |||||||||
Total changes in equity | (454,572) | (455,433) | 3,121 | 13,645 | 133,267 | (4,256) | 145,777 | 218 | 145,995 | (601,428) | 861 | ||
Equity at end of the year at Dec. 31, 2023 | $ 4,477,429 | $ 4,441,199 | $ 1,577,643 | $ (4,921) | $ (930) | $ 122,294 | $ (13,454) | $ 102,989 | $ 11,881 | $ 114,870 | $ 2,748,686 | $ 36,230 | |
[1] See Note 19.7 |
Identification and activities o
Identification and activities of the Company and Subsidiaries | 12 Months Ended |
Dec. 31, 2023 | |
Identification And Activities Of The Company And Subsidiaries | |
Identification and activities of the Company and Subsidiaries | Identification and activities of the Company and Subsidiaries 1.1 Historical background Sociedad Química y Minera de Chile S.A. (the “Company” or “SQM”) is an open stock corporation organized under the laws of the Republic of Chile and its Chilean Tax Identification Number is 93.007.000-9. The Company was incorporated through a public deed dated June 17, 1968 by the public notary of Santiago Mr. Sergio Rodríguez Garcés. Its existence was approved by Decree No. 1,164 of June 22, 1968 of the Ministry of Finance, and it was registered on June 29, 1968 in the Registry of Commerce of Santiago, on page 4,537 No. 1,992. SQM’s headquarters are located at El Trovador 4285, Floor 6, Las Condes, Santiago, Chile, The Company’s telephone number is +(56 2) 2425-2000. The Company is registered in the CMF under number 184 of March 18, 1983 and is therefore subject to oversight by that entity. 1.2 Main domicile where the Company performs its production activities The Company’s main domiciles are: Calle Dos Sur plot No. 5 - Antofagasta; Arturo Prat 1060 - Tocopilla; Administration Building w/n - Maria Elena; Administration Building w/n Pedro de Valdivia - María Elena, Anibal Pinto 3228 - Antofagasta, Kilometer 1378 Ruta 5 Norte Highway - Antofagasta, Coya Sur Plant w/n - Maria Elena, kilometer 1760 Ruta 5 Norte Highway - Pozo Almonte, Salar de Atacama (Atacama Saltpeter deposit) potassium chloride plant w/n - San Pedro de Atacama, potassium sulfate plant at Salar de Atacama w/n – San Pedro de Atacama, Minsal Mining Camp w/n CL Plant CL, Potassium– San Pedro de Atacama, formerly the Iris Saltpeter office w/n, Commune of Pozo Almonte, Iquique; Level 1; 225 Dt Georges Tce Perth WA 6000, Australia. 1.3 Codes of main activities The codes of the main activities as established by the CMF, as follows: • 1700 (Mining) • 2200 (Chemical products) • 1300 (Investment) 1.4 Description of the nature of operations and main activities The products of the Company are mainly derived from mineral deposits found in northern Chile where mining takes place and caliche and brine deposits are processed. (a) Specialty plant nutrition : Four main types of specialty plant nutrients are produced: potassium nitrate, sodium nitrate, sodium potassium nitrate and specialty blends. In addition, other specialty fertilizers are sold including third party products. (b) Iodine: The Company produces iodine and iodine derivatives, which are used in a wide range of medical, pharmaceutical, agricultural and industrial applications, including x-ray contrast media, polarizing films for LCD and LED, antiseptics, biocides and disinfectants, in the synthesis of pharmaceuticals, electronics, pigments and dye components. (c) Lithium: The Company produces lithium carbonate, which is used in a variety of applications, including electrochemical materials for batteries, frits for the ceramic and enamel industries, and it is an important ingredient in the manufacture of gunpowder, heat-resistant glass (ceramic glass), air conditioning chemicals, continuous casting powder for steel extrusion, primary aluminum smelting process, pharmaceuticals and lithium derivatives. We are also a leading supplier of lithium hydroxide, which is primarily used as an input for the lubricating greases industry and for certain cathodes for batteries. (d) Industrial chemicals : The Company produces three industrial chemicals: sodium nitrate, potassium nitrate and potassium chloride. Sodium nitrate is used primarily in the production of glass, explosives, and metal treatment. Potassium nitrate is used in the manufacturing of specialty glass, and it is also an important raw material to produce of frits for the ceramics and enamel industries. Solar salts, a combination of potassium nitrate and sodium nitrate, are used as a thermal storage medium in concentrated solar power plants. Potassium chloride is a basic chemical used to produce potassium hydroxide, and it is also used oil drilling, and to produce carrageenan. (e) Potassium: The Company produces potassium chloride and potassium sulfate from brines extracted from the Salar de Atacama. Potassium chloride is a commodity fertilizer used to fertilize a variety of crops including corn, rice, sugar, soybean and wheat. Potassium sulfate is a specialty fertilizer used mainly in crops such as vegetables, fruits and industrial crops. (f) Other products and services: The Company also sells other fertilizers and blends, some of which we do not produce, mainly potassium nitrate, potassium sulfate and potassium chloride. This business line also includes revenue from commodities, services, interests, royalties and dividends. 1.5 Other background (a) Employees As of December 31, 2023, and 2022, the workforce was as follows: As of December 31, 2023 As of December 31, 2022 Employees SQM S.A. Other Total SQM S.A. Other Total Executives 33 137 170 32 128 160 Professionals 190 2,663 2,853 177 2,506 2,683 Technicians and operators 364 4,295 4,659 309 3,845 4,154 Total 587 7,095 7,682 518 6,479 6,997 As of December 31, 2023 As of December 31, 2022 Place of work SQM S.A. Other Total SQM S.A. Other Total In Chile 587 6,447 7,034 518 6,015 6,533 Outside Chile — 648 648 — 464 464 Total 587 7,095 7,682 518 6,479 6,997 (b) Main shareholders As of December 31, 2023, there were 1,172 shareholders. Following table shows information about the main shareholders of the Company’s Series A or Series B shares in circulation as of December 31, 2023 and 2022, in line with information provided by the DCV, with respect to each shareholder that, to our knowledge, owns more than 5% of the outstanding Series A or Series B shares. The following information is derived from our registry and reports managed by the DCV and informed to the CMF and the Chilean Stock Exchange: Shareholders as of December 31, 2023 No. of Series A % of Series A No. of Series B % of Series B % of total Inversiones TLC SpA 62,556,568 43.80 % — — 21.90 % The Bank of New York Mellon, ADRs — — 46,174,681 32.33 % 16.17 % Sociedad de Inversiones Pampa Calichera S.A. 42,640,389 29.86 % 1,611,227 1.13 % 15.49 % Potasios de Chile S.A. 18,179,147 12.73 % — — 6.36 % Banco de Chile on behalf of State Street — — 11,744,230 8.22 % 4.11 % AFP Habitat S.A. 603,789 0.42 % 9,991,619 7.00 % 3.71 % Global Mining Spa 8,798,539 6.16 % — — 3.08 % Banco Santander on behalf of foreign investors — — 8,499,930 5.95 % 2.98 % AFP Provida S.A. — — 8,299,626 5.81 % 2.91 % AFP Cuprum S.A. — — 7,979,983 5.59 % 2.79 % AFP Capital S.A. — — 7,525,912 5.27 % 2.63 % Banco De Chile on behalf of Citi NA New York. 67,463 0.05 % 6,399,986 4.44 % 2.24 % Shareholders as of December 31, 2022 No. of Series A % of Series A No. of Series B % of Series B % of total The Bank of New York Mellon, ADRs — — 64,555,045 45.20% 22.60 % Inversiones TLC Spa (1) 62,556,568 43.80 % — — 21.90 % Sociedad de Inversiones Pampa Calichera S.A. (2) 43,133,789 30.20 % 1,611,227 1.13 % 15.66 % Potasios De Chile S.A. 18,179,147 12.73 % — — 6.36 % Banco de Chile via State Street 79,265 0.06 % 10,979,388 7.69 % 3.87 % AFP Habitat S.A. — — 9,504,885 6.66 % 3.33 % Inv. Global Mining Chile Ltda. 8,798,539 6.16 % — — 3.08 % Banco Santander via foreign investor accounts 545,729 0.38 % 8,181,775 5.73 % 3.06 % AFP Cuprum S.A. — — 6,535,039 4.58 % 2.29 % Banco de Chile non-resident third party accounts 62,829 0.04 % 6,181,476 4.33 % 2.19 % AFP Capital S.A. — — 5,652,982 3.96 % 1.98 % AFP Provida S.A. — — 5,263,361 3.69 % 1.84 % ________________________________________________ (1) As reported by DCV, which records the Company’s shareholders’ register as of December 31, 2023 and 2022 Inversiones TLC SpA, a subsidiary wholly owned by Tianqi Lithium Corporation, is the direct owner of 62,556,568 Series A shares of the Company equivalent to 21.90% of SQM’s shares. In addition, as reported by Tianqi Lithium Corporation, it owns 748,490 Series B shares as reported by Inversiones TLC SpA. Accordingly, as of December 31, 2023, and 2022, Tianqi Lithium Corporation owns 22.16% of SQM's shares through Series A shares and ADS of Series B shares. (2) As of December 31, 2023, and 2022, Sociedad de Inversiones Pampa Calichera S.A. owned 46,600,458 Series A and B shares; 2,348,842 Series A shares held in custody by stockbrokers. |
Basis of presentation for the c
Basis of presentation for the consolidated financial statements | 12 Months Ended |
Dec. 31, 2023 | |
Basis Of Presentation For The Consolidated Financial Statements [Abstract] | |
Basis of presentation for the consolidated financial statements | Basis of presentation for the consolidated financial statements 2.1 Accounting period These consolidated financial statements cover the following periods: (a) Consolidated statements of financial position as of December 31, 2023 and 2022. (b) Consolidated statements of income for the three years in the period ended December 31, 2023, 2022 and 2021. (c) Consolidated statements of comprehensive income for the three years in the period ended January 1 to December 31, 2023, 2022 and 2021. (d) Consolidated statements of changes in equity for the three years in the period ended December 31, 2023, 2022 and 2021. (e) Consolidated statements of cash flows for the three years in the period ended December 31, 2023, 2022 and 2021. 2.2 Consolidated financial statements The consolidated financial statements of the Company and subsidiaries have been prepared in accordance with IFRS, as issued by the IASB. These consolidated financial statements fairly present the Company’s financial position as of December 31,2023 and 2022 and the results of its operations, changes in equity and cash flows for the three years in the period ended December 31, 2023, 2022 and 2021. IFRS establish certain alternatives for their application, those applied by the Company are detailed in this Note and Note 3. The accounting policies used in the preparation of these consolidated financial statements comply with each IFRS in force at their date of presentation. 2.3 Basis of measurement The consolidated financial statements have been prepared on the historical cost basis except for the following: (a) Inventories are recorded at the lower of cost and net realizable value. (b) Financial derivatives measured at fair value. (c) Certain financial investments measured at fair value with an offsetting entry in other comprehensive income. 2.4 Accounting pronouncements New accounting pronouncements (a) The following standards, interpretations and amendments are mandatory for the first time for annual periods beginning on January 1, 2023: Amendments and improvements Description Mandatory for annual periods Amendment to IAS 12 – Deferred taxes related to assets and liabilities that arise from a single transaction. These amendments require companies to recognize deferred taxes on transactions that result in equal amounts in taxable and deductible temporary differences in the initial recognition. 01-01-2023 Amendment to IAS 12 "Income Taxes" on International Tax Reform - Pillar Two Model Rules. This amendment provides companies with a temporary exemption from accounting for deferred taxes arising from the Organization for Economic Cooperation and Development (OECD) international tax reform. The amendments also introduce specific disclosure requirements for affected companies. 01-01-2023 Management determined that the adoption of the aforementioned standards, amendments and interpretations did not significantly impact the Company’s consolidated financial statements. (b) Standards, interpretations and amendments issued that had not become effective for financial statements beginning on January 1, 2023 and which the Company has not adopted early are as follows: Standards and Interpretations Description Mandatory for annual periods Amendments to IAS 1 "Presentation of Financial Statements" about the classification of liabilities. This amendment clarifies that liabilities are classified as either current or non-current, depending on their rights as of the reporting date. The classification is not affected by the expectations of the entity or events after the reporting date. For example, the receipt of a waiver or non-compliance with an agreement. The amendment also clarifies what IAS 1 means when it refers to the “settlement" of a liability. The amendment should be applied retrospectively in accordance with IAS 8. 01-01-2024 Amendment to IAS 1 “Non-current liabilities with covenants”. The amendment is aimed at improving the information that an entity provides when the payment terms of its liabilities can be deferred depending on compliance with covenants within the twelve months following the date of issue of the financial statements. 01-01-2024 Amendments to IFRS 16 “Leases” On sales with leaseback, which explains how an entity should recognize the rights to use the asset and how the gains or losses from the sale and leaseback should be recognized in the financial statements. 01-01-2024 Amendments to IAS 7 "Statement of Cash Flows" and IFRS 7 "Financial Instruments: Disclosures" on supplier financing arrangements. These amendments require disclosures that improve the transparency of supplier financing arrangements and their effects on a company's liabilities, cash flows and exposure to liquidity risk. 01-01-2024 Amendments to IAS 21 - Lack of exchangeability. This amendment affects an entity that has a transaction in a foreign currency that cannot be exchanged with another currency for a specific purpose as of the measurement date. One currency is exchangeable into another when the other currency can be obtained with a normal administrative delay, and the transaction is performed using a market or exchange mechanism that creates enforceable rights and obligations. This amendment contains instructions regarding the exchange rate to be used when the currency is not exchangeable, as previously described. Early adoption is permitted. 01-01-2025 Management believes that the adoption of the above standards, amendments and interpretations will not have a significant impact on the Company’s financial statements. 2.5 Basis of consolidation (a) Subsidiaries The Company established control as the basis for consolidation of its financial statements. The Company controls a subsidiary when it is exposed, or has rights, to variable returns from its involvement with the subsidiary and has the ability to affect those returns through its power over the subsidiary. The consolidation of a subsidiary starts when the Group controls it and it is no longer included in the consolidation when this control is lost. Subsidiaries are consolidated through a line by line method, adding items that represent assets, liabilities, income and expenses with a similar content, and eliminating operations between companies within the SQM Group. Results for dependent companies acquired or disposed of during the period are included in the consolidated accounts from the date on which control is transferred to the Company or until the date when this control ends, as relevant. To account for an acquisition of a business, the Company uses the acquisition method. Under this method, the acquisition cost is the fair value of assets delivered, equity securities issued, and incurred or assumed liabilities at the date of exchange. Assets, liabilities and contingencies identifiable assumed in a business combination are measured initially at fair value at the acquisition date. For each business combination, the Company will measure the non-controlling interest of the acquiree either at fair value or as proportional share of net identifiable assets of the acquire The following tables detail general information as of December 31, 2023 and 2022 on the companies in which the group exercises control: Country of Functional Ownership Interest Subsidiaries TAX ID No. Address Incorporation Currency Direct Indirect Total SQM Nitratos S.A. 96.592.190-7 El Trovador 4285, Las Condes Chile Dollar 99.9999 0.0001 100.0000 SQM Potasio S.A. 96.651.060-9 El Trovador 4285, Las Condes Chile Dollar 99.9999 0.0001 100.0000 Serv. Integrales de Tránsito y Transf. S.A. 79.770.780-5 Arturo Prat 1060, Tocopilla Chile Dollar 0.0003 99.9997 100.0000 Isapre Norte Grande Ltda. 79.906.120-1 Aníbal Pinto 3228, Antofagasta Chile Peso 1.0000 99.0000 100.0000 Ajay SQM Chile S.A. 96.592.180-K Av. Pdte. Eduardo Frei 4900, Santiago Chile Dollar 51.000 - 51.000 Almacenes y Depósitos Ltda. 79.876.080-7 El Trovador 4285, Las Condes Chile Peso 1.0000 99.0000 100.0000 SQM Salar S.A. 79.626.800-K El Trovador 4285, Las Condes Chile Dollar 18.1800 81.8200 100.0000 SQM Industrial S.A. 79.947.100-0 El Trovador 4285, Las Condes Chile Dollar 99.0470 0.9530 100.0000 Exploraciones Mineras S.A. 76.425.380-9 El Trovador 4285, Las Condes Chile Dollar 0.2691 99.7309 100.0000 Sociedad Prestadora de Servicios de Salud Cruz del Norte S.A. 76.534.490-5 Aníbal Pinto 3228, Antofagasta Chile Peso - 100.0000 100.0000 Soquimich Comercial S.A. 79.768.170-9 El Trovador 4285, Las Condes Chile Dollar - 60.6383 60.6383 Comercial Agrorama Ltda. (1) 76.064.419-6 El Trovador 4285, Las Condes Chile Dollar - 60.6383 60.6383 Comercial Hydro S.A. 96.801.610-5 El Trovador 4285, Las Condes Chile Dollar - 100.0000 100.0000 Agrorama S.A. 76.145.229-0 El Trovador 4285, Las Condes Chile Dollar - 60.6383 60.6383 Orcoma Estudios SPA 76.359.919-1 Apoquindo 3721 OF 131, Las Condes Chile Dollar 100.0000 - 100.0000 Orcoma SPA 76.360.575-2 Los Militares 4290, Las Condes Chile Dollar 100.0000 - 100.0000 SQM MaG SpA 76.686.311-9 Los Militares 4290, Las Condes Chile Dollar - 100.0000 100.0000 Sociedad Contractual Minera Búfalo 77.114.779-8 Los Militares 4290, Las Condes Chile Dollar 99.9000 0.1000 100.0000 SQM North America Corp. Foreign 2727 Paces Ferry Road, Building Two, Suite 1425, Atlanta, GA United States of America Dollar 40.0000 60.0000 100.0000 RS Agro Chemical Trading Corporation A.V.V. Foreign Caya Ernesto O. Petronia 17, Orangestad Aruba Dollar 98.3333 1.6667 100.0000 Nitratos Naturais do Chile Ltda. Foreign Al. Tocantis 75, 6° Andar, Conunto 608 Edif. West Gate, Alphaville Barureri, CEP 06455-020, Sao Paulo Brazil Dollar - 100.0000 100.0000 SQM Corporation N.V. Foreign Pietermaai 123, P.O. Box 897, Willemstad, Curacao Curacao Dollar 0.0002 99.9998 100.0000 SQM Ecuador S.A. Foreign Av. José Orrantia y Av. Juan Tanca Marengo Edificio Executive Center Piso 2 Oficina 211 Ecuador Dollar 0.00401 99.9960 100.0000 SQM Brasil Ltda. Foreign Al. Tocantis 75, 6° Andar, Conunto 608 Edif. West Gate, Alphaville Barureri, CEP 06455-020, Sao Paulo Brazil Dollar 0.5300 99.4700 100.0000 SQMC Holding Corporation. Foreign 2727 Paces Ferry Road, Building Two, Suite 1425, Atlanta United States of America Dollar 0.1000 99.9000 100.0000 SQM Japan Co. Ltd. Foreign From 1st Bldg 207, 5-3-10 Minami- Aoyama, Minato-ku, Tokio Japan Dollar 0.1597 99.8403 100.0000 Country of Functional Ownership Interest Subsidiaries TAX ID No. Address Direct Indirect Total SQM Europe N.V. (3) Foreign Houtdok-Noordkaai 25a B-2030 Amberes Belgium Dollar 0.5800 99.4200 100.0000 SQM International N.V. (3) Foreign Houtdok-Noordkaai 25a B-2030 Amberes Belgium Dollar - - - SQM Indonesia S.A. Foreign Perumahan Bumi Dirgantara Permai, Jl Suryadarma Blok Aw No 15 Rt 01/09 17436 Jatisari Pondok Gede Indonesia Dollar - 80.0000 80.0000 North American Trading Company (4) Foreign 2727 Paces Ferry Road, Building Two, Suite 1425, Atlanta, GA United States of America Dollar - - - SQM Virginia LLC (4) Foreign 2727 Paces Ferry Road, Building Two, Suite 1425, Atlanta, GA United States of America Dollar - - - SQM Comercial de México S.A. de C.V. Foreign Av. Moctezuma 144-4 Ciudad del Sol. CP 45050, Zapopan, Jalisco México México Dollar 0.0100 99.9900 100.0000 SQM Investment Corporation N.V. Foreign Pietermaai 123, P.O. Box 897, Willemstad, Curacao Curacao Dollar 1.0000 99.0000 100.0000 Royal Seed Trading Corporation A.V.V. Foreign Caya Ernesto O. Petronia 17, Orangestad Aruba Dollar 1.6700 98.3300 100.0000 SQM Lithium Specialties Limited Partnership (4) Foreign 2727 Paces Ferry Road, Building Two, Suite 1425, Atlanta, GA United States of America Dollar - - - Comercial Caimán Internacional S.A. (2) Foreign Edificio Plaza Bancomer Panamá Dollar - - - SQM France S.A. Foreign ZAC des Pommiers 27930 Fauville France Dollar - 100.0000 100.0000 Administración y Servicios Santiago S.A. de C.V. Foreign Av. Moctezuma 144-4 Ciudad del Sol, CP 45050, Zapopan, Jalisco México México Dollar - 100.0000 100.0000 SQM Nitratos México S.A. de C.V. Foreign Av. Moctezuma 144-4 Ciudad del Sol, CP 45050, Zapopan, Jalisco México México Dollar - 100.0000 100.0000 Soquimich European Holding B.V. Foreign Luna Arena, Herikerbergweg 238 1101 CM Amsterdan Holland Dollar - 100.0000 100.0000 SQM Iberian S.A. Foreign Provenza 251 Principal 1a CP 08008, Barcelona Spain Dollar - 100.0000 100.0000 SQM África Pty Ltd. Foreign Tramore House, 3 Wterford Office Park, Waterford Drive, 2191 Fourways, Johannesburg South Africa Dollar - 100.0000 100.0000 SQM Oceanía Pty Ltd. Foreign Level 9, 50 Park Street, Sydney NSW 2000, Sydney Australia Dollar - 100.0000 100.0000 SQM Beijing Commercial Co. Ltd. Foreign Room 1001C, CBD International Mansion N 16 Yong An Dong Li, Jian Wai Ave Beijing 100022, P.R. China Dollar - 100.0000 100.0000 SQM Thailand Limited Foreign Unit 2962, Level 29, N° 388, Exchange Tower Sukhumvit Road, Klongtoey Bangkok Thailand Dollar - 99.9980 99.9980 SQM Colombia SAS Foreign Cra 7 No 32 – 33 piso 29 Pbx: (571) 3384904 Fax: (571) 3384905 Bogotá D.C. – Colombia. Colombia Dollar - 100.0000 100.0000 SQM Australia Pty Foreign Level 16, 201 Elizabeth Street Sydney Australia Dollar - 100.0000 100.0000 SQM (Shanghai) Chemicals Co. Ltd. Foreign Room 4703-33, 47F, No.300 Middle Huaihai Road, Huangpu district, Shanghai China Dollar - 100.0000 100.0000 SQM Korea LLC Foreign Suite 22, Kyobo Building, 15th Floor, 1 Jongno Jongno-gu, Seoul, 03154 South Korea South Korea Dollar - 100.0000 100.0000 SQM Holland B.V. Foreign Herikerbergweg 238, 1101 CM Amsterdam Zuidoost Holland Dollar - 100.0000 100.0000 Soquimich Comercial Brasil Ltda. Foreign Avenida Bento Rocha, N° 821, Vila Alboitt, CEP 83221-565. Paranaguá Brazil Dollar - 100.0000 100.0000 (1) SQM has control over Comercial Agrorama Ltda.´s management (2) Comercial Caiman Internacional S.A. was liquidated at June 30, 2023. As of December 31, 2022, ownership interest over this entity was 100% indirect. (3) On July 1, 2023, SQM Europe N.V. absorbed its affiliate SQM International N.V. As of December 31, 2022, ownership interest over SQM International was 100% indirect. (4) During the fourth quarter, SQM Virginia LLC, North American Trading Company and SQM Lithium Specialties Limited Partnership were liquidated. As of December 31, 2022, ownership interest over these entities were 100% indirect. 2.6 Investments in associates and joint ventures Investments in joint arrangements are classified as joint operations or joint ventures. The classification depends on the contractual rights and obligations of each investor, rather than the legal structure of the joint arrangement. (a) Joint operations The Company recognizes its direct right to the assets, liabilities, income and expenses of the joint arrangement. (b) Joint ventures and investments in associates Interests in companies over which joint control is exercised (joint ventures) or where an entity has significant influence (associates) are recognized using the equity method. Significant influence is presumed to exist when the investor owns over 20% of the investee’s share capital. Under the equity method, the investment is recognized in the statement of financial position at cost and is adjusted to recognize changes in the Company's share of the net assets of the associate or joint venture since the date of acquisition. The Company's statement of income reflects the portion of the operating results of the associate or joint venture and any changes in other comprehensive income or direct changes in the associate's equity are reflected in the Company's equity. For such purposes, the percentage of ownership interest in the associate is used. At the time of acquisition, the difference between the investment cost and the net fair value of identifiable assets and liabilities of the investee is recognized as goodwill, which is presented as part of the carrying value of the investee and is not amortized. The debit or credit to the income statement reflects the proportional share of the associate's net income (loss). Changes in associate’s or joint ventures equity are recognized proportionally with a charge or credit to "Other Reserves" and are classified according to their origin. The reporting dates of the associate or joint ventures, the Company and related policies are similar for equivalent transactions and events in similar circumstances. In the event that significant influence is lost, or the investment is sold, or held for sale, the equity method is suspended, not recognizing the proportional share of the gain or loss. If the resulting value under the equity method is negative, the share of income is reflected as zero in the consolidated financial statements, unless there is a commitment by the Company to restore the capital position of the Company, in which case the related risk provision and expense are recorded. Dividends received by these companies are recorded by reducing the value of the investment and are shown in cash flows from operating activities, and the proportional share of the gain or loss recognized in accordance with the equity method is included in the consolidated income statement under "Share of Gains (Losses) of Associates and Joint Ventures Accounted for Using the Equity Method’’. Unrealized gains from transactions with joint ventures or associates are eliminated in accordance with the Company’s percentage interest in such entities. Any unrealized losses are also eliminated, unless that transaction provides evidence that the transferred asset is impaired. |
Significant accounting policies
Significant accounting policies | 12 Months Ended |
Dec. 31, 2023 | |
Significant Accounting Policies | |
Significant accounting policies | Significant accounting policies 3.1 Classification of balances as current and non-current In the consolidated statement of financial position, balances are classified in consideration of their recovery maturity dates; i.e., those maturing within a period equal to or less than 12 months are classified as current counted from the closing date of the consolidated financial statements and those with maturity dates exceeding the aforementioned period are classified as non-current. The exception to the foregoing relates to deferred taxes, which are classified as non-current, regardless of the maturity they have. 3.2 Functional and presentation currency The Company’s consolidated financial statements are presented in United States dollars, without decimal places, which is the Company’s functional and presentation currency and is the currency of the main economic environment in which it operates. Consequently, the term foreign currency is defined as any currency other than the U.S. dollar. 3.3 Accounting policy for foreign currency translation (a) SQM group entities: The revenue, expenses, assets and liabilities of all entities that have a functional currency other than the presentation currency are converted to the presentation currency as follows: - Assets and liabilities are converted at the closing exchange rate prevailing on the reporting date. - Revenues and expenses of each statement of income account are converted at monthly average exchange rates. - All resulting foreign currency translation gains and losses are recognized as a separate component in translation reserves. In consolidation, foreign currency differences arising from the translation of a net investment in foreign entities are recorded in shareholder’s equity (“foreign currency translation reserve”). At the date of disposal, such foreign currency translation differences are recognized in the statement of income as part of the gain or loss from the sale. The main exchange rates and UF used to translate monetary assets and liabilities, expressed in foreign currency at the end and average of each period in respect to U.S. dollars, are as follows: Closing exchange rates Average exchange rates Currencies As of As of As of As of ThUS$ ThUS$ ThUS$ ThUS$ Brazilian real 4.85 5.28 4.90 5.25 New Peruvian sol 3.70 3.81 3.73 3.83 Japanese yen 140.90 131.32 143.94 134.70 Euro 0.90 0.93 0.92 0.94 Mexican peso 16.92 19.50 17.18 19.60 Australian dollar 1.46 1.47 1.49 1.48 Pound Sterling 0.78 0.83 0.79 0.82 South African rand 18.27 17.01 18.61 17.28 Chilean peso 877.12 855.86 875.06 873.81 Chinese yuan 7.12 6.92 7.15 6.98 Indian rupee 83.21 82.73 83.26 82.52 Thai Baht 34.36 34.64 34.95 34.76 Turkish lira 29.52 18.71 29.09 18.66 Korean Won 1,290.70 1,259.98 1,304.17 1,291.64 Indonesian Rupiah 15,399.00 15,570.00 15,502.63 15,596.90 United Arab Emirates dirham 3.67 3.67 3.67 3.67 Polish Zloty 3.93 4.37 3.97 4.42 UF (*) 41.94 41.02 42.04 40.18 ________________________________________________ (*) US$ per UF (b) Transactions and balances The Company’s non-monetary transactions in currencies other than the functional currency (Dollar) are translated to the respective functional currencies of Group entities at the exchange rate on the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the reporting date are retranslated to the functional currency at the exchange rate at that date. All differences are recorded in the statement of income except for all monetary items that provide an effective hedge for a net investment in a foreign operation. These items are recognized in other comprehensive income until disposal of the investment, when they are recognized in the statement of income. Charges and credits attributable to foreign currency translation differences on those hedge monetary items are also recognized in other comprehensive income. Non-monetary assets and liabilities that are measured at historical cost in a foreign currency are retranslated to the functional currency at the historical exchange rate of the transaction. Non-monetary items that are measured based on fair value in a foreign currency are translated using the exchange rate at the date on which the fair value is determined. 3.4 Consolidated statement of cash flows Cash equivalents correspond to highly liquid short-term investments that are easily convertible into known amounts of cash and subject to insignificant risk of changes in their value and mature in less than three months from the date of acquisition of the instrument. For the purposes of the statement of cash flows, cash and cash equivalents comprise cash and cash equivalents as defined above. The statement of cash flows present cash transactions performed during the period, determined using the direct method. Other (outflows) inflows of cash from operating activities is composed as follows: For the year ended December 31, December 31, December 31, Banking expenses (15,603) (3,783) (1,921) Tax credits (3,353) (3,474) (2,403) Government grants 24,387 — — Value added tax (298,076) 120,283 80,503 Cost of bond issuance (18,346) (2,566) (16,570) (310,991) 110,460 59,609 3.5 Financial assets accounting policy Management determines the classification of its financial assets at fair value (either through other comprehensive income, or through profit or loss), and at amortized cost. The classification depends on the business model of the entity to manage the financial assets and the contractual terms of the cash flows. The initial value of the Company's financial assets valued at fair value through other comprehensive income includes the transaction costs that are directly attributable to acquiring that financial asset on the date the Company commits to acquiring it, whereas the transaction costs for financial assets valued at fair value through profit or loss are expensed. The initial value of trade and other receivables that do not include a significant financial component is their transaction price. After initial recognition, the Company measures its financial assets according to the Company’s business model for managing its financial assets and the contractual terms of its cash flows: (a) Financial debt instruments measured at amortized cost. Financial assets that meet the following conditions are included in this category (i) the business model that supports it aims to maintain the financial assets to obtain the contractual cash flows and (ii) the contractual conditions of the financial asset give place, on specified dates, to cash flows that are only payments of the principal and interest on the outstanding principal amount. The Company’s financial assets that meet these conditions are: (i) cash equivalents; (ii) related party receivables; (iii) trade debtors; (iv) other receivables. (b) Financial instruments at fair value. A financial asset should be measured at fair value through income or fair value through other comprehensive income, depending on the following: (i) "Fair value through other comprehensive income": Assets held to collect contractual cash flows and to be sold, where the asset cash flows are only capital and interest payments, are measured at fair value through other comprehensive income. Changes in book values are through other comprehensive income, except for the recognition of impairment losses, interest income and exchange gains and losses, which are recognized in the income statement. When a financial asset is derecognized, the cumulative gain or loss previously recognized in other comprehensive income is reclassified from equity to the income statement. Interest income from these financial assets is included in financial income using the effective interest method. (ii) "Fair value through profit or loss": Assets that do not meet the amortized cost or "Fair value through other comprehensive income" criteria are valued at "Fair value through income". (c) Financial equity instruments at fair value through other comprehensive income. Equity instruments that are not classified as held for trading and which the Group has irrevocably chosen to recognize in this category from its initial recognition to the reporting date. Amounts presented in other comprehensive income will not be subsequently transferred to the statement of income. 3.6 Financial assets impairment The Company evaluates expected credit losses associated with its debt instruments carried at amortized cost and fair value through other comprehensive income. The impairment method used depends on whether there has been a significant increase in credit risk. The Company assumes that the credit risk of a financial asset has increased significantly when it is more than 30 days past due. It is in default when the financial asset is more than 90 days past due and an individual analysis has concluded that it has a negative credit impairment. – Significant financial hardship – Breach of contract due to default – Probability of going bankrupt The Company assesses the credit impairment of its receivables as of each reporting date. A financial asset has credit impairment when one or more events have a negative impact on the expected cash flows from it. Evidence of credit impairment for a debtor is as follows: The Company applies the simplified approach to measure expected credit losses using the lifetime expected loss on all trade receivables. Expected credit losses are measured by grouping receivables by their shared credit risk characteristics and days overdue. The Company has concluded that the expected loss rates for trade receivables are a reasonable approximation of the loss rates for these assets. Expected loss rates are based on sales payment profiles and historical credit losses within this period. Historical loss rates are adjusted to reflect current expectations and information regarding macroeconomic factors that affect the ability of customers to meet their commitments. Impairment losses from receivables and contract assets are shown as net impairment losses in the line “Impairment of financial assets and reversal of impairment losses,” see Note 21.7. Any subsequent recoveries of financial assets previously charged off are credited to the same line. The gross value of a financial asset is charged off to the income statement when the Company has no reasonable expectation of recovering all or a portion of it, following an individual analysis prepared by management. 3.7 Financial liabilities Management accounts for its financial liabilities at amortized cost. Upon initial recognition, the Company measures its financial liabilities by their fair value less the transaction costs that are directly attributable to the acquisition of the financial liability. The Company subsequently measures its financial liabilities at amortized cost. Financial liabilities measured at amortized cost are commercial accounts payable and other accounts payable and other financial liabilities. Amortized cost is based using the effective interest rate method. Amortized cost is calculated by considering any premium or discount on the acquisition and includes transaction costs that are an integral part of the effective interest rate. 3.8 Estimated fair value of financial instruments The fair value of financial assets and liabilities is estimated using the following information. Although the data represent Management's best estimates, it is subjective and involves significant estimates regarding current economic conditions, market conditions and risk characteristics. Methodologies and assumptions used depend on the risk terms and characteristics of instruments and include the following as a summary: Fair value estimation Financial assets and liabilities measured at fair value consist of forwards hedging the mismatch in the balance sheet and cash flows, options hedging the mismatch in the balance sheet and cross currency swaps to hedge bonds issued in local currency (Peso/UF). The fair value of the Company’s assets and liabilities recognized by cross currency swaps contracts is calculated as the difference between the present value of discounted cash flows of the asset (Peso/UF) and liability (Dollar) parts of the derivative. In the case of the IRS, the asset value recognized is calculated as the difference between the discounted cash flows of the asset (variable rate) and liability (fixed rate) parts of the derivative. Forwards are calculated as the difference between the strike price of the contract and the spot price plus the forwards points at the date of the contract. Financial options: the value recognized is calculated using the Black-Scholes method. In the case of CCS, the entry data used for the valuation models are UF, Peso, Dollar and basis swap rates. In the case of fair value calculations for interest rate swaps, the Forward Rate Agreement rate and ICVS 23 Curve (Bloomberg: cash/deposits rates, futures, swaps). In the case of forwards, the forwards curve for the currency in question is used. Finally, for options, the spot price, risk-free rate and volatility of exchange rate are used, all in accordance with the currencies used in each valuation. The financial information used as entry data for the Company’s valuation models is obtained from Bloomberg, the well-known financial software company. Conversely, the fair value provided by the counterparties of derivatives contracts is used only as a control and not for valuation purposes. Fair value estimates for disclosure purposes • Cash equivalent approximates fair value due to the short-term maturities of these instruments. • Fair value of current trade receivables is considered to be equal to the carrying amount due to the maturity of such accounts at short-term. • Payables, current lease liabilities and other current financial liabilities’s fair value equal to book value due to the short-term maturity of these accounts. • The fair value of the debt (long-term secured and unsecured debentures; bonds denominated in local currency (Peso/UF) and foreign currency (Dollar), borrowings denominated in foreign currency (Dollar) of the Company are calculated at current value of cash flows subtracted from market rates upon valuation, considering the terms of maturity and exchange rates. The UF and Peso rate curves are used as inputs for the valuation model. This information is obtained through from the renowned financial software company, Bloomberg, and the Chilean Association of Banks and Financial Institutions. 3.9 Reclassification of financial instruments When the Company changes its business model for managing financial assets, it will reclassify all its financial assets affected by the new business model. Financial liabilities cannot be reclassified. 3.10 Financial instruments derecognition The Company derecognizes a financial asset when the contractual rights to the cash flows from the asset expire, or it transfers the rights to receive the contractual cash flows in a transaction in which substantially all the risks and rewards of ownership of the financial asset are transferred; and the control of the financial assets has not been retained. The Company derecognizes a financial liability when its contractual obligations or a part of these are discharged, paid to the creditor or legally extinguished from the principle responsibility contained in the liability. 3.11 Derivative and hedging financial instruments Derivative financial instruments are recognized initially at fair value as of the date on which the derivatives contract is signed and, they are subsequently assessed at fair value. The method for recognizing the resulting gain or loss depends on whether the derivative has been designated as an accounting hedge instrument and, if so, it depends on the type of hedging, which may be as follows: a) Fair value hedge of assets and liabilities recognized (fair value hedges). b) Hedging of a single risk associated with a recognized asset or liability or a highly probable forecast transaction (cash flow hedge). At the beginning of the transaction, the Company documents the relationship that exists between hedging instruments and hedged items, as well as their objectives for risk management purposes and strategy to conduct the different hedging operations. The Company also documents its evaluation both at the beginning and at the end of each period if the derivatives used in hedging transactions are highly effective to offset changes in the fair value or in cash flows of hedged items. The fair value of derivative instruments used for hedging purposes is shown in Note 12.3. Derivatives that are not designated or do not qualify as hedging derivatives are classified as current assets or liabilities, and changes in the fair value are directly recognized through income. a) Fair value hedge Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recorded in the statement of income, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk. The gain or loss relating to the effective portion of interest rate swaps that hedge fixed rate borrowings is recognized in the statement of income within finance costs, together with changes in the fair value of the hedged fixed rate borrowings attributable to interest rate risk. The gain or loss relating to the ineffective portion is recognized in income within other income or other expenses captions. If the hedge no longer meets the criteria for hedge accounting, the adjustment to the carrying amount of a hedged item for which the effective interest method is used is amortized to income over the period to maturity using a recalculated effective interest rate. b) Cash flow hedges The effective portion of the gain or loss on the hedging instrument is initially recognized with a debit or credit to other comprehensive income, while any ineffective portion is immediately recognized to income, as appropriate, depending on the nature of the hedged risk. The amounts accumulated in other comprehensive income are carried over to results when the hedged items are settled or when these have an impact on income. When a hedging instrument no longer meets the criteria for hedge accounting, any cumulative deferred gain or loss and deferred costs of hedging in equity at that time remains in equity until the forecast transaction occurs. When the forecast transaction is no longer expected to occur, the cumulative gain or loss and deferred costs of hedging that were reported in other comprehensive income are immediately reclassified to the statement of income. 3.12 Derivative financial instruments not considered as hedges Derivative financial instruments not considered as hedges are recognized at fair value with the effect in the statement of income for the year. The Company has derivative financial instruments to hedge foreign currency risk exposure. The Company continually evaluates the existence of embedded derivatives in both its contracts and in its financial instruments. As of December 31, 2023, and 2022, the Company does not have any embedded derivatives. 3.13 Deferred acquisition cost from insurance contracts Acquisition costs from insurance contracts are classified as prepayments and correspond to insurance contracts in force, recognized using the straight-line method and on an accrual basis independent of payment date. These are recognized under other non-financial assets current. 3.14 Leases (a) Right-of-use assets The Company recognizes right-of-use assets on the initial lease date (i.e., the date on which the underlying asset is available for use). Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, adjusted by any new measurement of the lease liability. The cost of right-of-use assets includes the amount of recognized lease liabilities, direct initial costs incurred and lease payments made on the start date or sooner, less the lease incentives received. Unless the Company is reasonably sure it will take ownership of the leased asset at the end of the lease period, the assets recognized through right-of-use are depreciated in a straight line during the shortest period of their estimated useful life and lease period. Right-of-use assets are subject to impairment. (b) Lease liabilities On the lease start date, the Company recognizes lease liabilities measured at present value of lease payments that will be made during the lease period. Lease payments include fixed payments (including payments that are essentially fixed), less incentives for lease receivables, variable lease payments that are dependent on an index or rate and amounts that are expected to be paid as guaranteed residual value. Lease payments also include the exercise price of a purchase option if the Company is reasonably sure it will exercise this and penalty payments for terminating a lease, if the lease period reflects that the Company will exercise the option to terminate. Variable lease payments that are not dependent on an index or rate are recognized as expenses in the period that produces the event or condition that triggers payment. When calculating the present value of lease payments, the Company uses the incremental borrowing rate on the initial lease date if the interest rate implicit in the lease cannot be determined easily. After the start date, the lease liability balance will increase to reflect the accumulation of interest and will diminish as lease payments are made. Furthermore, the book value of lease liabilities is remeasured in the event of an amendment, a change in the lease period, a change in the fixed lease payments in substance or a change in the assessment to buy the underlying asset. Payments made that affect lease liabilities are presented as part of the financing activities in the cash flow statement. (c) Short-term leases and low-value asset leases The Company applies the short-term lease recognition exemption to leases with a lease term of 12 months or less starting on the start date and that don’t have a purchase option. It also applies the low-value asset lease recognition exemptions to leases less than the limit specified in the respective accounting standard. Lease payments in short-term leases and low-value asset leases are recognized as lineal expenses during the lease term. (d) Significant judgments in the determination of the lease term for contracts with renewal options. The Company determines the lease term as the non-cancellable period of the lease, together with periods covered by an option to extend the lease if it is reasonably certain that this will be exercised, or any period covered by an option to terminate the lease, if it is reasonably certain that this will not be exercised. The Company has the option, under some of its leases, to lease assets for additional terms. The Company applies its judgment when assessing whether it is reasonably certain that it will exercise the option to renovate. In other words, it considers all the relevant factors that create an economic incentive for it to exercise the option to renovate. After the start date, the Company reevaluates the lease term if there is a significant event or change in the circumstances that are under its control and affect its capacity to exercise (or not exercise) the option to renovate. 3.15 Inventory measurement The method used to determine the cost of inventories is the weighted average monthly cost of warehouse storage. In determining production costs for own products, the company includes the costs of labor, raw materials, materials and supplies used in production, depreciation and maintenance of the goods that participate in the production process, the costs of product movement necessary to maintain stock on location and in the condition in which they are found, and also includes the indirect costs of each task such as laboratories, process and planning areas, and personnel expenses related to production, among others. For finished and in-process products, the company has three types of provisions, which are reviewed quarterly: (a) Provision associated with the lower value of stock: The provision is directly identified with the product that generates it and involves three types: (i) provision of lower realizable value, which corresponds to the difference between the inventory cost of intermediary or finished products, and the sale price minus the necessary costs to bring them to the same conditions and location as the product with which they are compared; (ii) provision for future uncertain use that corresponds to the value of those products in process that are likely not going to be used in sales based on the company’s long-term plans; (iii) reprocessing costs of products that are unfeasible for sale due to current specifications. (b) Provision associated with physical differences in inventory: A provision is made for differences that exceed the tolerance considered in the respective inventory process (physical and annual inventories are taken for the productive units in Chile and the port of Tocopilla; the business subsidiaries depend on the last zero ground obtained, but in general it is at least once a year), these differences are recognized immediately. (c) Potential errors in the determination of stock: The company has an algorithm (reviewed at least once a year) that corresponds to diverse percentages assigned to each inventory based on the product, location, complexity involved in the associated measurement, rotation and control mechanisms. Inventories of raw materials, materials and supplies for production are recorded at acquisition cost. Cyclical inventories are performed in warehouses, as well as general inventories every three years. Differences are recognized at the moment they are detected. The company has a provision based on quarterly calculations from percentages associated with each type of material (classification by warehouse and rotation), these percentages use the lower value resulting from deterioration or obsolescence as well as potential losses. This provision is reviewed at least annually, and considers the historical results obtained in the inventory processes. 3.16 Non-controlling interests Non-controlling interests are recorded in the consolidated statement of financial position within equity but separate from equity attributable to the owners of the Parent. 3.17 Related party transactions Transactions between the Company and its subsidiaries are part of the Company’s normal operations within its scope of business activities. Conditions for such transactions are those normally effective for those types of operations with regard to terms and market prices. The maturity conditions vary according to the originating transaction. 3.18 Property, plant and equipment Property, plant and equipment are stated at acquisition cost, net of the related accumulated depreciation, amortization and impairment losses that they might have experienced. In addition to the price paid for the acquisition of tangible property, plant and equipment, the Company has considered the following concepts as part of the acquisition cost, as applicable: (a) Accrued interest expenses during the construction period that are directly attributable to the acquisition, construction or production of qualifying assets, which are those that require a substantial period prior to being ready for use. The interest rate used is that related to the project’s specific financing or, should this not exist, the average financing rate of the investor company. Financing costs are not capitalized for periods that exceed the normal term of acquisition, construction or installation of an asset, such as delays, interruptions or temporary suspension of the project due to technical, financial or other problems that prevent the asset from reaching a usable condition. (b) The future costs that the Company will have to experience, related to the closure of its facilities at the end of their useful life, are included at the present value of disbursements expected to be required to settle the and its subsequent variation is recorded directly in results. Having initially recognized provisions for closure and refurbishment, the corresponding cost is capitalized as an asset in “Property, plant and equipment” and amortized in line with the amortization criteria for the associated assets. Construction-in-progress is transferred to property, plant and equipment in operation once the assets are available for use and the related depreciation and amortization begins on that date. Extension, modernization or improvement costs that represent an increase in productivity, ability or efficiency or an extension of the useful lives of property, plant and equipment are capitalized as a higher cost of the related assets. All the remaining maintenance, preservation and repair expenses are charged to expense as they are incurred. The replacement of assets, which increase the asset’s useful life or its economic capacity, are recorded as a higher value of property, plant and equipment with the related derecognition of replaced or renewed elements. Gains or losses which are generated from the sale or disposal of property, plant and equipment are recognized as income (loss) and calculated as the difference between the asset’s sales value and its net carrying value. The cost of interest is recognized by applying an average or average weighted interest rate for all financing costs incurred by the Company to the final monthly balances for works underway and complies with the requirements of the required standard. 3.19 Depreciation of property, plant and equipment Property, plant and equipment are depreciated through the straight-line distribution of cost over the estimated technical useful life of the asset, which is the period in which the Company expects to use the asset. When components of one item of property, plant and equipment have different useful lives, they are recorded as separate assets and depreciated over their expected useful lives. Useful lives are reviewed on an annual basis. Fixed assets located in the Salar de Atacama consider useful life to be the lesser value between the technical useful life and the years remaining until 2030. In the case of certain mobile equipment, depreciation is performed depending on the hours of operation. The useful lives used for the depreciation and amortization of assets included in property, plant and equipment in years are presented below: Classes of property, plant and equipment Minimum life or Maximum life or Life or average rate Mining assets (*) 5 10 8 Energy generating assets 5 16 8 Buildings 4 25 13 Supplies and accessories 4 15 8 Office equipment 5 10 6 Transport equipment 6 20 9 Network and communication equipment 4 12 7 IT equipment 4 11 7 Machinery, plant and equipment 3 24 11 Other fixed assets 3 20 9 (*) Mining equipment includes SQM Australia's exploration assets, which are depreciated on a unit of production basis. 3.20 Goodwill Goodwill acquired represents the excess in acquisition cost on the fair value of the Company’s ownership of the net identifiable assets of the subsidiary on the acquisition date. Goodwill acquired related to the acquisition of subsidiaries is included in the line item goodwill, which is subject to impairment tests annually or more frequently if events or changes in circumstances indicate that it might be impaired and is stated at cost less accumulated impairment losses. Gains and losses related to the sale of an entity include the carrying value of goodwill related to the entity sold. This intangible asset is assigned to cash-generating units with the purpose of testing impairment losses. It is allocated based on cash-generating units expected to obtain benefits from the business combination from which the aforementioned goodwill acquired arose. 3.21 Intangible assets other than goodwill Intangible assets other than goodwill mainly relate to water rights, costs for rights of way for electricity lines, software and licensing costs, the development of computer software and mining property and concession rights. (a) Water rights Water rights acquired by the Company relate to water from natural sources and are recorded at acquisition cost. The Company separates water rights into: i) Finite rights with amortization using the straight-line method, and ii) Indefinite rights, which are not amortized, given that these assets represent rights granted in perpetuity to the Company and subject to an annual impairment assessment. (b) Rights of way for electric lines As required for the operation of industrial plants, the Company has paid rights of way in order to instal |
Financial risk management
Financial risk management | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of nature and extent of risks arising from financial instruments [abstract] | |
Financial risk management | Financial risk management 4.1 Financial risk management policy The Company’s financial risk management policy is focused on safeguarding the stability and sustainability of the Company and its subsidiaries with regard to all such relevant financial uncertainty components. The Company’s operations are subject to certain financial risk factors that may affect its financial position or results. The most significant risk exposures are market risk, liquidity risk, currency risk, credit risk, and interest rate risk, among others. There could also be additional risks, which are either unknown or known but not currently deemed to be significant, which could also affect the Company’s business operations, its business, financial position, or statement of income. The financial risk management structure includes identifying, determining, analyzing, quantifying, measuring and controlling these events. Management and in particular, Finance Management, is responsible for constantly assessing the financial risk. 4.2 Risk Factors (a) Credit risk A global economic contraction may have potentially negative effects on the financial assets of the Company, which are primarily made up of financial investments and trade receivables, and the impact on of our customers could extend the payment terms of the Company’s receivables by increasing its exposure to credit risk. Although measures are taken to minimize the risk, this global economic situation could mean losses with adverse material effects on the business, financial position or statement of income of the Company’s operations. Trade receivables: to mitigate credit risk, the Company maintains active control of collection and requires the use of credit insurance. Credit insurance covers the risk of insolvency and unpaid invoices corresponding to 80% of all receivables with third parties. The credit risk associated with receivables is analyzed in Note 12.2 b) and the related accounting policy can be found in Note 3.6. Bank promissory notes: These are negotiable promissory notes issued by a bank payable upon maturity at the request of customers to guarantee collection of the Company. These notes are accepted based on the credit quality of the issuing banks. Financial institution Financial assets Rating As of Moody´s S&P Fitch ThUS$ Agricultural Bank of China Bank notes P-1 A-1 - 2,061 Bank of Communications Bank notes P-1 A-2 - 8,783 Bank of NingBo Bank notes P-2 - - 1,065 China CITIC Bank Bank notes P-2 A-2 - 35,477 China Construction Bank Corporation Bank notes - A-1 - 1,802 China Everbright Bank Bank notes (P)P-2 A-2 - 2,647 China Guangfa Bank Bank notes P-3 A-3 - 1,245 China Merchants Bank notes - A-2 - 8,661 China Minsheng Bank Bank notes - A-3 - 3,097 China Zheshang Bank Bank notes - A-3 - 3,167 HuaXia Bank Bank notes - A-3 - 3,639 Industrial & Commercial Bank of China Limited Bank notes P-1 A-1 - 8,998 Industrial Bank Bank notes P-1 A-1+ - 12,177 International Bank of Macau Bank notes P-1 - F1+ 4,122 Shanghai Pudong Development Bank Bank notes P-2 A-2 - 20,549 Others Bank notes - - - 8,441 Total 125,931 Financial institution Financial assets Rating December 31, Moody´s S&P Fitch ThUS$ Agricultural Bank of China Bank notes P-1 A-1 F1+ 10,334 Bank of China Bank notes P-1 A-1 F1+ 27,936 Bank of Jiujiang Bank notes P-2 - - 1,964 Bank of Ningbo Bank notes P-2 - - 3,148 Others Bank notes - - - 1,887 Total 45,269 Concentrations of credit risk with regard to trade receivables are reduced, owing to the Company’s large number of clients and their distribution around the globe. No significant modifications have been made during the period to risk models or parameters used in comparison to December 31, 2023, and no modifications have been made to contractual cash flows that have been significant during this period, except for considering in December 31, 2022 the incorporation of cash flows received from insurance claims in the determination of the allowance for doubtful accounts. The effect of this change was not significant to the overall financial statements as of December 31, 2022. Financial investments: correspond to time deposits whose maturity date is greater than 90 days and less than 360 days from the date of investment, so they are not exposed to excessive market risks. The counterparty risk in implementation of financial operations is assessed on an ongoing basis for all financial institutions in which the Company holds financial investments. The credit quality of financial assets that are not past due or impaired can be evaluated by reference to external credit ratings (if they are available) or historical information on counterparty late payment rates: Financial institution Financial assets Rating As of Moody´s S&P Fitch ThUS$ Banco Santander- Santiago Time deposits P-1 A-2 F2 6,318 Banco Crédito e Inversiones Time deposits P-1 A-2 - 1,001 Corpbanca Time deposits P-2 A-2 - 5,014 Banco de Chile Time deposits P-1 A-1 - 4,460 Scotiabank Sud Americano Time deposits - - F1+ 6,752 Banco Crédito e Inversiones Investment fund AA+ - - 5,031 JP Morgan US dollar Liquidity Fund Institutional Investment fund Aaa-mf AAAm AAAmmf 22,845 Legg Mason - Western Asset Institutional cash reserves Investment fund - AAAm AAAmmf 312,924 Total 364,345 Banco Crédito e Inversiones Time deposits P-1 A-2 F2 74,459 Banco Morgan Stanley Margin Call P-1 A-2 F1 5,590 Banco Santander Time deposits P-1 A-2 - 100,083 Banco Itaú CorpBanca Time deposits P-2 A-2 - 372,061 Scotiabank Sud Americano Time deposits - - F1+ 672,720 Sumitomo Mitsui Banking Time deposits P-1 - F1 91,884 Total 1,316,797 Financial institution Financial assets Rating As of Moody´s S&P Fitch ThUS$ Banco Crédito e Inversiones Time deposits - A-2 F2 150,578 Banco Itaú Corpbanca Time deposits P-2 A-2 - 284,915 Banco Santander - Santiago Time deposits P-1 A-2 - 124,689 Scotiabank Chile Time deposits - - F1+ 416,026 Sumitomo Mitsui Banking Time deposits P-1 - - 122,631 Banco de Chile Time deposits - A-1 - 602 JP Morgan US dollar Liquidity Fund Institutional Investment fund Aaa-mf AAAm AAAmmf 435,485 Legg Mason - Western Asset Institutional cash reserves Investment fund - AAAm AAAmmf 590,661 Total 2,125,587 Banco Crédito e Inversiones Time deposits - A-2 F2 187,707 Banco Itaú Corpbanca Time deposits P-2 A-2 - 15,048 Banco Santander - Santiago Time deposits P-1 A-2 - 51,444 Banco Estado Time deposits P-1 A-1 - 85,055 Scotiabank Chile Time deposits - - F1+ 250,362 Banco de Chile Time deposits - A-1 - 150,259 Sumitomo Mitsui Banking Time deposits P-1 - - 210,292 Total 950,167 (b) Exchange risk The functional currency of the company is the US dollar, due to its influence on the determination of price levels, its relation to the cost of sales and considering that a significant part of the Company’s business is conducted in this currency. However, the global nature of the Company’s business generates an exposure to exchange rate variations of several currencies with the US dollar. Therefore, the Company maintains hedge contracts to mitigate the exposure generated by its main mismatches (net between assets and liabilities) in currencies other than the US dollar against the exchange rate variation, updating these contracts periodically depending on the amount of mismatching to be covered in these currencies. Occasionally, subject to the approval of the Board, the Company ensures short-term cash flows from certain specific line items in currencies other than the US dollar. A significant portion of the Company’s costs, especially salary payments, is associated with the Peso. Therefore, an increase or decrease in its exchange rate with the US dollar will provoke a respective decrease or increase to these accounting costs, which would be reflected in the Company’s statement of income. By the fourth quarter of 2023, approximately US$873 million accumulated in expenses are associated with the Peso. As of December 31, 2023, the Company held derivative instruments classified as hedges of foreign exchange risks associated with 100% of all the bond obligations denominated in UF, for a net assets fair value of US$2.52 million, this significant variation is explained primarily by the USD/CLP exchange rate observed at the end of the period. As of December 31, 2022, this value corresponds to a net liability amounting US$ 11.73 million. Furthermore, on of December 31, 2023, the Company held derivative instruments classified as hedges of foreign exchange risks associated with 100% of all nominative term deposits in UF and in pesos, at a net liability fair value of US$18.30 million. As of December 31, 2022, a net liability fair value was recognized for an amount of US$29.98 million. The Company contracted derivatives classified as foreign exchange hedges for all the expected disbursements in Australian dollars for the Mt Holland project (See note 8.5), to hedge its exposure to cash flow variations. The fair value of this hedge was a net asset of US$ 1.44 million as of December 31, 2023. The Company had the following derivative contracts as of December 31, 2023 (at the absolute value of the sum of their notional values), to hedge the difference between its assets and liabilities: US$ 50.60 million CLP/US dollar derivative contracts, US$ 24.44 million Euro/US dollar derivative contracts, US$ 21.72 million in South African rand/US dollar derivative contracts, US$ 535.32 million in Chinese renminbi/US dollar derivative contracts, US$ 64.40 million in Australian dollar/US dollar derivative contracts and US$ 7.38 million in other currencies. These derivative contracts are held with domestic and foreign banks, which have the following credit ratings as of December 31, 2023. Financial institution Financial assets Rating Moody´s S&P Fitch Banco Estado Derivative P-1 - - Merrill Lynch International Derivative P-1 A-2 F1+ JP Morgan Derivative P-1 A-2 F1+ Morgan Stanley Derivative P-1 A-2 F1 The Bank of Nova Scotia Derivative P-1 A-1 F1+ Banco Itaú-Corpbanca Derivative P-2 A-2 - Goldman Sachs Derivative P-1 A-2 F1 (c) Interest rate risk Interest rate fluctuations, primarily due to the uncertain future behavior of markets, may have a material impact on the financial results of the Company. Significant increases in the rate could make it difficult to access financing at attractive rates for the Company’s investment projects. The Company maintains current and non-current financial debt at fixed rates and SOFR rate plus spread. As of December 31, 2023, the Company has 6.8% of its financial liabilities subject to variations SOFR rate. (d) Liquidity risk Liquidity risk relates to the funds needed to comply with payment obligations. The Company’s objective is to maintain financial flexibility through a comfortable balance between fund requirements and cash flows from regular business operations, bank borrowings, bonds, short term investments and marketable securities, among others. For this purpose, the Company keeps a high liquidity ratio 1 , which enables it to cover current obligations with clearance. (As of December 31, 2023 this was 2.33 and 2.29 for December 31, 2022). The Company has an important capital expense program which is subject to change over time. On the other hand, world financial markets go through periods of contraction and expansion that are unforeseeable in the long-term and may affect the Company’s access to financial resources. Such factors may have a material adverse impact on the Company’s business, financial position and results of operations. The Company constantly monitors the matching of its obligations with its investments, taking due care of maturities of both, from a conservative perspective, as part of this financial risk management strategy. As of December 31, 2023, the Company had unused, available revolving credit facilities with banks, for a total of US$1,116 million. Cash and cash equivalents are invested in highly liquid mutual funds with an AAA risk rating. Nature of undiscounted cash flows As of December 31, 2023 Carrying Less than 1 year 1 to 5 years Over 5 years Total (figures expressed in millions of US dollars) Bank borrowings 1,464.26 1,117.86 268.80 62.05 1,448.71 Unsecured obligations 2,999.17 98.88 729.56 2,733.92 3,562.36 Sub total 4,463.43 1,216.74 998.36 2,795.97 5,011.07 Hedging liabilities 25.37 24.11 30.08 1.30 55.49 Derivative financial instruments 14.81 14.81 — — 14.81 Sub total 40.18 38.92 30.08 1.30 70.30 Current and non-current lease liabilities (3) 75.16 19.94 56.45 3.79 80.18 Trade accounts payable and other accounts payable 449.63 449.63 — — 449.63 Total 5,028.40 1,725.23 1,084.89 2,801.06 5,611.18 (3) Leases subject to variability are not included . Nature of undiscounted cash flows As of December 31, 2022 Carrying Less than 1 year 1 to 5 years Over 5 years Total (figures expressed in millions of US dollars) Bank borrowings 330.80 144.83 220.33 — 365.16 Unsecured obligations 2,550.60 405.17 616.66 2,935.15 3,956.98 Sub total 2,881.40 550.00 836.99 2,935.15 4,322.14 Hedging liabilities 62.53 40.76 20.43 12.68 73.87 Derivative financial instruments 5.82 5.82 — — 5.82 Sub total 68.35 46.58 20.43 12.68 79.69 Current and non-current lease liabilities 61.73 13.94 36.33 27.85 78.12 Trade accounts payable and other accounts payable 374.79 374.79 — — 374.79 Total 3,386.27 985.31 893.75 2,975.68 4,854.74 As of December 31, 2023, the nominal value of the agreed cash flows in US dollars of the CCS contracts were ThUS$ 504,393 (ThUS$ 512,236 as of December 31, 2022). 4.3 Financial risk management The Company documents and maintains methods for qualitatively measuring the effectiveness and efficiency of financial risk management strategies. These methods are consistent with SQM Group’s risk management profile. |
Separate information on the mai
Separate information on the main office, parent entity and joint action agreements | 12 Months Ended |
Dec. 31, 2023 | |
Separate Information On The Main Office, Parent Entity And Joint Action Agreements | |
Separate information on the main office, parent entity and joint action agreements | Separate information on the main office, parent entity and joint action agreements 5.1 Parent’s stand-alone assets and liabilities Parent’s stand-alone assets and liabilities As of As of ThUS$ ThUS$ Assets 8,824,362 8,430,376 Liabilities (4,383,163) (3,533,744) Equity 4,441,199 4,896,632 5.2 Parent entity Pursuant to Article 99 of the Securities Market Law, the CMF may determine that a company does not have a controlling entity in accordance with the distribution and dispersion of its ownership. On November 30, 2018, the CMF issued the ordinary letter No. 32,131 whereby it determined that the Pampa Group do not exert decisive power over the management of the Company since it does not have a predominance in the ownership that allows it to make management decisions. Therefore, the CMF has determined not to consider Pampa Group the controlling entity of the Company and that the Company does not have a controlling entity given its current ownership structure. |
Board of Directors, Senior Mana
Board of Directors, Senior Management and Key management personnel | 12 Months Ended |
Dec. 31, 2023 | |
Board Of Directors, Senior Management And Key Management Personnel | |
Board of Directors, Senior Management and Key management personnel | Board of Directors, Senior Management and Key management personnel 6.1 Remuneration of the Board of Directors and Senior Management (a) Board of directors SQM S.A. is managed by a Board of Directors which is composed of 8 directors, who are elected for a three-year period. The Board of Directors was elected during the ordinary shareholders’ meeting held on April 26, 2023, which included the election of 2 independent directors. Subsequent to such election, the following is the integration of the Company's committees: - Directors’ Committee: This committee is comprised by Gina Ocqueteau Tacchini, Antonio Gil Nievas and Ashley Ozols and fulfills the functions established in Article 50 bis of Chilean Law on publicly-held corporations. This committee takes on the role of the audit committee in accordance with the US-based Sarbanes Oxley law. - The Company’s Health, Safety and Environment Committee: This committee is comprised of Antonio Schneider, Patricio Contesse Fica and Gonzalo Guerrero Yamamoto. - Corporate Governance Committee: This committee is comprised of Hernán Büchi Buc, Patricio Contesse Fica and Xu Tieying. During the periods covered by these financial statements, there are no pending receivable and payable balances between the Company, its directors or members of Senior Management, other than those related to remuneration, fee allowances and profit-sharing.There were no transactions between the Company, its directors and senior management for the three years ended December 31, 2023. (b) Board of Directors’ Compensation Board members’ compensation for 2022, that is from April 26, 2022 to April 26, 2023, was determined by the Annual General Shareholders Meeting held on April 26, 2022. It is as follows: (i) The payment of a fixed, gross and monthly amount of UF 800 in favor of the Chairman of the Board of Directors, of UF 700 in favor of the vice-president of the board of directors and of UF 600 in favor of the remaining six directors and regardless of the number of Board of Directors’ Meetings held or not held during the related month. (ii) A variable gross amount payable to the Chairman and Vice President of the board of directors equivalent to 0.12% of the net liquid income earned by the Company in the respective business year for each; and (iii) A variable gross amount payable to each Company director, excluding the Chairman and Vice President of the board of directors, equivalent to 0.06% of the net liquid income earned in the respective business year. To calculate the variable compensation amount for 2022, net earnings from 2022 will be considered, up to a maximum of 110% of the 2021 net earnings. Compensation of the Board for 2023, that is from April 26, 2023 to April 24, 2024, was determined by the Annual General Shareholders Meeting held on April 26, 2023. It is as follows: (i) The payment of a fixed, gross and monthly amount of UF 800 in favor of the Chairman of the Board of Directors, of UF 700 in favor of the vice-president of the board of directors and of UF 600 in favor of the remaining six directors and regardless of the number of Board of Directors’ Meetings held or not held during the related month. (ii) A variable gross amount payable to the Chairman and Vice President of the board of directors equivalent to 0.12% of the net liquid income that the Company effectively obtains during the respective business year for each; and (iii) A variable gross amount payable in local currency to each Company director, excluding the Chairman and Vice President of the Company, equivalent to 0.06% of the net liquid income that the Company effectively obtains during the respective business year. Net income for the 2023 fiscal year will be considered for the calculation of variable compensation for 2023. The amount of variable compensation for 2023 will be capped at 110% of the amount paid to the Company’s directors for variable compensation in 2022. These fixed and variable amounts for both periods shall not be challenged and those expressed in percentage terms shall be paid immediately after the respective annual general shareholders meeting approves the financial statements, the annual report, the account inspectors report and the external auditors report for the respective year. Accordingly, the compensation and profit sharing paid to members of the Directors' Committee and the directors as of December 31, 2023, amounted to ThUS$ 7,516 and as of December 31, 2022 to ThUS$ 6,711, and as of December 31, 2021 to ThUS$ 3,749. (c) Directors’ Committee compensation Compensation for the Board of Directors is the same for 2021, 2022 and 2023, as follows: (i) The payment of a fixed, gross and monthly amount of UF 200 in favor of each of the 3 directors who were members of the Directors’ Committee, regardless of the number of meetings of the Directors’ Committee that have or have not been held during the month concerned. (ii) The payment in domestic currency and in favor of each of the 3 directors of a variable and gross amount equivalent to 0.02% of total net income from the respective business year. To calculate the variable compensation amount for 2022, the net income from 2022 will be considered, up to a maximum of 110% of the 2021 net income. Profit for the 2023 fiscal year will be considered for the calculation of variable compensation for 2023. The amount of variable compensation for 2023 will be capped at 110% of the amount paid to the Company’s directors for variable compensation in 2022. These fixed and variable amounts for both periods shall not be challenged and those expressed in percentage terms shall be paid immediately after the respective annual general shareholders meeting approves the financial statements, the annual report, the account inspectors report and the external auditors report for the respective year. (d) Health, Safety and Environmental Matters Committee: The remuneration of this committee for the 2022 period was composed of the payment of a fixed, gross, monthly amount of UF 100 for each of the 3 directors on the committee regardless of the number of meetings it has held. For the 2023 period, this remuneration remains unchanged. (e) Corporate Governance Committee The remuneration for this committee for the 2022 period was composed of the payment of a fixed, gross, monthly amount of UF 100 for each of the 3 directors on the committees regardless of the number of meetings it has held. For the 2023 period, this remuneration remains unchanged. (f) Guarantees constituted in favor of the directors No guarantees have been constituted in favor of the directors. (g) Senior management compensation: (i) This includes monthly fixed salary and variable performance bonuses. (See Note 6.2) (ii) The Company has an annual bonus plan based on goal achievement and individual contribution to the Company’s results. These incentives are structured as a minimum and maximum number of gross monthly salaries and are paid once a year. (iii) In addition, there are retention bonuses for its executives (see Note 17.6) (h) Guarantees pledged in favor of the Company’s management No guarantees have been pledged in favor of the Company’s management. (i) Pensions, life insurance, paid leave, shares in earnings, incentives, disability loans, other than those mentioned in the above points. The Company’s Management and Directors do not receive or have not received any benefit during the years ended December 31, 2023, 2022 and 2021 or compensation for the concept of pensions, life insurance, paid time off, profit sharing, incentives, or benefits due to disability other than those mentioned in the preceding points. 6.2 Key management personnel compensation As of December 31, 2023, and 2022, the number of the key management personnel is 153 and 142, respectively. Key management personnel compensation For the year ended For the year ended For the year ended ThUS$ ThUS$ ThUS$ Key management personnel compensation 37,418 29,633 31,560 Please also see the description of the compensation plan for executives in Note 17.6. |
Equity-accounted investees
Equity-accounted investees | 12 Months Ended |
Dec. 31, 2023 | |
Equity-Accounted Investees | |
Equity-accounted investees | Equity-accounted investees 7.1 Investments in associates recognized according to the equity method of accounting Equity-accounted investees Share in income of associates Share in other comprehensive income of Share in total comprehensive income of Associate As of As of For the year For the year For the year For the year For the year For the year For the year For the year For the year ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Ajay North America 17,657 17,654 3,733 5,351 2,802 — — — 3,733 5,351 2,802 Ajay Europe SARL 7,722 8,624 4,013 6,130 1,852 382 (498) 360 4,395 5,632 2,212 SAS Adionics 19,514 — (985) — — — — — (985) — — Electric Era Technologies Inc. 3,000 — — — — — — — — — — Altilium Metals Ltd. 7,620 — — — — — — — — — — Total 55,513 26,278 6,761 11,481 4,654 382 (498) 360 7,143 10,983 5,014 Dividends received for the year ending Associate Description of the nature Address Country of Share of December 31, December 31, December 31, ThUS$ ThUS$ ThUS$ Abu Dhabi Fertilizer Industries WWL Distribution and commercialization of specialty plant nutrients in the Middle East. PO Box 71871, Abu Dhabi United Arab Emirates 37 % 633 3,000 9,438 Ajay North America Production and distribution of iodine and iodine derivatives. 1400 Industry RD Power Springs GA 30129 United States of North America 49 % 4,013 1,576 1,233 Ajay Europe SARL Production and distribution of iodine and iodine derivatives. Z.I. du Grand Verger BP 227 53602 Evron Cedex France 50 % 4,682 1,778 992 SAS Adionics Lithium extraction, salt separation, water treatment for production and lithium cleaning. 17 bis Avenue des Andes Les Ulis, 91940 France 20 % — — — Electric Era Technologies, Inc. Electric vehicle charging infrastructure, smart grid, renewable technology, demand management, battery storage. 3257 17th Ave W Suite 101 Seattle, Washington 98119. United States of America 6.82 % — — — Altilium Metals Ltd. Production of battery-ready cathode materials from electric vehicle batteries. Phase 2 Room 205 Davy Road, Derrifod, Plymouth. United Kingdom 3 % — — — Total 9,328 6,354 11,663 7.2 Assets, liabilities, revenue and expenses of associates The information disclosed reflects the amounts presented in the financial statements of the relevant associates and not the Company's share of those amounts. As of December 31, 2023 For the year ended December 31, 2023 Assets Liabilities Revenue Net income (loss) Other Comprehensive Associate Current Non-current Current Non-current ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Ajay North America 26,280 16,307 6,553 — 60,019 7,617 — 7,617 Ajay Europe SARL 27,263 3,197 15,015 — 73,952 8,025 12 8,037 SAS Adionics 19,645 12,294 5,141 917 4,156 (4,924) — (4,924) Electric Era Technologies, Inc. 15,486 242 3,702 — 674 (3,177) — (3,177) Altilium Metals Ltd. 1,896 118,228 24,679 — — (1,912) — (1,912) Total 90,570 150,268 55,090 917 138,801 5,629 12 5,641 As of December 31, 2022 For the year ended December 31, 2022 Assets Liabilities Revenue Net income (loss) Other Comprehensive Associate Current Non-current Current Non-current ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Ajay North America 30,455 15,972 10,395 2 63,482 10,919 — 10,919 Ajay Europe SARL 33,742 1,992 18,486 — 64,060 12,261 (21) 12,240 Total 64,197 17,964 28,881 2 127,542 23,180 (21) 23,159 For the year ended December 31, 2021 Revenue Net income (loss) Other Comprehensive Associate ThUS$ ThUS$ ThUS$ ThUS$ Ajay North America 47,375 5,718 — 5,718 Ajay Europe SARL 48,409 3,705 (34) 3,671 Total 95,784 9,423 (34) 9,389 7.3 Disclosures regarding interests in associates (a) Transactions for the year ended December 31, 2023 : • During the second quarter of 2023, the Company received dividends from Abu Dhabi Fertilizer Industries WWL totaling ThUS$ 633, which were presented under "Other gains (losses). • During the third quarter of 2023, the Company invested ThUS$20,383 to acquire a 20% interest in Adionics Société par actions simplifiée. • During the third quarter of 2023, the Company invested ThUS$7,620 to acquire a 3% interest in Altilium Metals Ltd., and ThUS$3,000 to acquire a 6.82% interest in Electric Era Technologies Inc. The Company has the right to appoint a director, specific rights over share transfers, and first refusal rights in future capital increases. (b) Transactions for the year ended December 31, 2022 : • During February 2022, the Company received dividends of ThUS$ 3,000 from Abu Dhabi Fertilizer Industries WWL which triggered a income of ThUS$ 523 recorded in the line item other (losses), corresponding to the excess over the account receivable recognized in December 2021. (c) Transactions for the year ended December 31, 2021 : • During the first quarter 2021, Kore Potash PLC made a share payment to its non-executive board members (remuneration shares) plus certain employees and former employees (performance shares) which resulted in 0.05% share reduction for the company, leaving it with 20.15%. During the second quarter of 2021, Kore Potash PLC approved a capital stock increase of ThUS$ 13,931 through the issuance of common shares, which resulted in a dilution of 5.5% of SQM shares in the company, with an impact of ThUS$ (5,778) on other gains (losses). As a result of the dilution, the Company considered that there has been a loss of significant influence on the investment, discontinued its measurement through the equity method, and recognized an amount of ThUS$ 3,739 under other gains (losses) related to items recognized in other comprehensive income associated with this investment. See Note 12.1 for more details. • As of December 31, 2021, the Company received dividends from Abu Dhabi Fertilizer Industries WWL of ThUS$ 9,438 and recognized an account receivable for ThUS$ 2,477 in dividends receivable. • On June 30, 2021, the Company made an assessment of the recovery of the investment in Abu Dhabi Fertilizer Industries WWL and recognized an impairment of ThUS$ 2,800 in other gains (losses). This impairment was reversed in the second half of the year as the recoverable value amount of the investment later increased. |
Joint Ventures
Joint Ventures | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of joint ventures [abstract] | |
Joint Ventures | Joint Ventures 8.1 Investment in joint ventures accounted for under the equity method of accounting. Equity-accounted investees Share in income (loss) of joint ventures Joint Venture As of As of For the year ended For the year ended For the year ended ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ SQM Vitas Fzco. 19,490 20,793 (6,564) 8,208 6,304 Pavoni & C. Spa 7,870 7,315 396 470 174 Covalent Lithium Pty Ltd. — — 107 — — Pirra Lithium Pty Ltd. 3,544 — — — — Total 30,904 28,108 (6,061) 8,678 6,478 Share on other comprehensive income joint ventures Share on total comprehensive income of joint ventures Joint Venture For the year ended For the year ended For the year ended For the year ended For the year ended For the year ended ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ SQM Vitas Fzco. 2,450 674 429 (4,114) 8,882 6,733 Pavoni & C. Spa 139 (210) (317) 535 260 (143) Covalent Lithium Pty Ltd. (*) 1,583 90 37 1,690 90 37 Pirra Lithium Pty Ltd. — — — — — — Total 4,172 554 149 (1,889) 9,232 6,627 ________________________________________________ (*) Equity method investments with a negative value are presented under "Other non-current provisions" and total ThUS$ 766. The following companies were included in the consolidation: Equity-accounted investees Share in income (loss) of joint ventures Joint Venture As of As of For the year ended For the year ended For the year ended ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ SQM Vitas Brasil Agroindustria (**) — 14,667 — 5,834 4,582 SQM Vitas Perú S.A.C. (1) 2,488 1,340 (2,302) 2,293 1,645 Total 2,488 16,007 (2,302) 8,127 6,227 Share on other comprehensive income of Share on total comprehensive income of Joint Venture For the year ended For the year ended For the year ended For the year ended For the year ended For the year ended ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ SQM Vitas Brasil Agroindustria (**) — 551 (429) — 6,385 4,153 SQM Vitas Perú S.A.C. (1) — — — (2,302) 2,293 1,645 Total — 551 (429) (2,302) 8,678 5,798 (**) As of December 31, 2023, the investment in SQM Vitas Brasil Agroindustria was sold. 1. These companies are subsidiaries of: SQM Vitas Fzco Dividends received for the year ending Joint venture Description of the nature Domicile Country of Share of As of As of As of ThUS$ ThUS$ ThUS$ SQM Vitas Fzco. Production and commercialization of specialty plant, animal nutrition and industrial hygiene. Jebel ALI Free Zone P.O. Box 18222, Dubai United Arab Emirates 50 % — — — Pavoni & C. Spa Production of specialty fertilizers and others for distribution in Italy and other countries. Corso Italia 172, 95129 Catania -CT, Sicilia Italy 50 % — — — Covalent Lithium Pty Ltd. Development and operation of the Mt. Holland Lithium project, which will include the construction of a lithium extraction and refining mine. L18, 109 St Georges Tce Perth WA 6000 |PO Box Z5200 St Georges Tce Perth WA 6831 Australia 50 % — — — SQM Vitas Brasil Agroindustria (1) Production and trading of specialty vegetable and animal nutrition and industrial hygiene. Via Cndeias, Km. 01 Sem Numero, Lote 4, Bairro Cia Norte, Candeias, Bahia. Brazil 49.99 % — — — SQM Vitas Perú S.A.C. (1) Production and trading of specialty vegetable and animal nutrition and industrial hygiene Av. Juan de Arona 187, Torre B, Oficina 301-II, San Isidro, Lima Peru 50 % — — — Pirra Lithium Pty Ltd. Exploration and development of lithium assets.. Suite 12, 11 Ventnor Avenue, West Perth, WA 6605. Australia 37.5 % — — — Total — — — 8.2 Assets, liabilities, revenue and expenses from joint ventures The information disclosed reflects the amounts presented in the financial statements of the relevant joint ventures and not the Company's share of those amounts. As of December 31, 2023 For the year ended December 31, 2023 Assets Liabilities Revenue Net income (loss) Other Comprehensive Joint Venture Current Non-current Current Non-current ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ SQM Vitas Fzco. (*) 34,056 — 52 — — 359 — 359 SQM Vitas Brasil Agroindustria (*) — — — — — — — — SQM Vitas Perú S.A.C. (*) 40,327 8,954 36,898 220 53,477 (4,603) — (4,603) Pavoni & C. Spa (*) 11,879 6,407 8,146 814 21,439 792 115 907 Covalent Lithium Pty Ltd. 6,980 2,602 7,106 4,009 — 215 — 215 Pirra Lithium Pty Ltd. — — — — — — — — Total 93,242 17,963 52,202 5,043 74,916 (3,237) 115 (3,122) As of December 31, 2022 For the year ended December 31, 2022 Assets Liabilities Net income (loss) Other Comprehensive Joint Venture Current Non-current Current Non-current Revenue ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ SQM Vitas Fzco. (*) 9,618 — 49 — — 165 — 165 SQM Vitas Brasil Agroindustria (*) 73,045 6,111 45,894 — 162,026 11,670 602 12,272 SQM Vitas Perú S.A.C. (*) 59,196 7,285 49,596 117 61,387 4,586 — 4,586 Pavoni & C. Spa (*) 11,516 6,358 8,853 802 18,066 939 (344) 595 Covalent Lithium Pty Ltd. 2,077 3,088 7,062 3,017 — (2,648) — (2,648) Total 155,452 22,842 111,454 3,936 241,479 14,712 258 14,970 For the year ended December 31, 2021 Revenue Net income (loss) Other Comprehensive Joint Venture ThUS$ ThUS$ ThUS$ ThUS$ SQM Vitas Fzco. (*) — 159 — 159 SQM Vitas Brasil Agroindustria (*) 103,335 9,165 (858) 8,307 SQM Vitas Perú S.A.C. (*) 48,128 3,289 — 3,289 Pavoni & C. Spa (*) 19,599 347 (634) (287) Covalent Lithium Pty Ltd. — (864) 74 (790) Total 171,062 12,096 (1,418) 10,678 (*) The financial figures figures exclude consolidation adjustments (unrealized gains and losses) 8.3 Other joint venture disclosures Cash and cash equivalents Other current financial liabilities Other non-current financial liabilities Joint Venture As of As of As of As of As of As of ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ SQM Vitas Fzco. 28,012 3,866 — — — — SQM Vitas Brasil Agroindustria — 3,820 — 9,753 — — SQM Vitas Perú S.A.C. 2,318 2,208 — 82 — 117 Pavoni & C. Spa 838 1,088 2,043 4,951 — — Covalent Lithium Pty Ltd. 1,865 1,931 — 494 — — Total 33,033 12,913 2,043 15,280 — 117 Depreciation and amortization expense Interest expense Income tax benefit (expense) Joint Venture As of As of As of As of As of As of ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ SQM Vitas Fzco. — — (1) (1) — — SQM Vitas Brasil Agroindustria — (331) — (333) — (3,164) SQM Vitas Perú S.A.C. (513) (360) (220) (298) 2,013 (2,370) Pavoni & C. Spa (213) (183) (418) (347) (392) (459) Covalent Lithium Pty Ltd. (691) (176) (16) (40) (107) 1,094 Total (1,417) (1,050) (655) (1,019) 1,514 (4,899) 8.4 Disclosure of interests in joint ventures a) Transactions in the year 2023 • On December 19, 2023, the joint venture SQM Vitas Fzco sold its 100% interest in SQM Vitas Brasil, generating an effect on the consolidated financial statements of a loss of ThUS$2.6 million. Prior to the sale of Vitas Brasil, Vitas Brasil distributed dividends to SQM Vitas Fzco for ThUS$14,282. Subsequently, in 2024 SQM Vitas Fzco distributed and paid dividends to the Company in the amount of ThUS$12,500. • During the fourth quarter of 2023, the Company made an investment of ThUS$3,544 in Pirra Lithium Pty Ltd with an equity interest of 37.5%. The Company has the right to nominate a director and anti-dilution rights in terms of its shareholding. In addition, it has the right to nominate a member of the technical committee in charge of exploration plans and budgets. • On December 19, 2023, the SQM Vitas Fzco joint venture made an agreement with the Company to purchase 50% of the SQM Vitas Peru joint venture, which will be completed during the second quarter of 2024 for approximately US$5 million subject to compliance with certain regulatory requirements. b) Transactions in the year 2022 • As of December 31, 2022, there are no transactions to disclose. c) Transactions in the year 2021 • On February 9, 2021, two of the Company’s subsidiaries signed an agreement to terminate a dispute related to sales contracts and interest in the joint venture of Sichuan SQM Migao Chemical Fertilizers Co Ltd. Consequently, the Company received a ThUS$ 11.5 million compensation. 8.5 Joint Operations In 2017, together with our subsidiary SQM Australia Pty, we entered into an agreement to acquire 50% of the assets of the Mt Holland lithium project in Western Australia. The Mt Holland lithium project is to design, construct and operate a mine, concentrator and refinery to produce lithium hydroxide. On February 17, 2021, the Board of Directors approved the investment in the Mount Holland lithium project in Western Australia. SQM's share of the project investment is expected to be approximately US$700 million, between 2021 and 2025. The feasibility study confirms an expected initial production capacity of 50,000 metric tons of lithium hydroxide during the second half of 2024. As of December 31, 2023, a total of US$720.6 million has been contributed to Mt. Holland. Lithium project The revised investment budget for this project considers a pending investment balance of US$124 million. |
Cash and cash equivalents
Cash and cash equivalents | 12 Months Ended |
Dec. 31, 2023 | |
Cash and cash equivalents [abstract] | |
Cash and cash equivalents | Cash and cash equivalents 9.1 Types of cash and cash equivalents As of December 31, 2023 and 2022, cash and cash equivalents are detailed as follows: Cash As of As of ThUS$ ThUS$ Cash on hand 33 43 Cash in banks 676,282 529,606 Other demand deposits 709 — Total Cash 677,024 529,649 Cash equivalents As of As of ThUS$ ThUS$ Short-term deposits, classified as cash equivalents 23,545 1,099,441 Short-term investments, classified as cash equivalents 340,800 1,026,146 Total cash equivalents 364,345 2,125,587 Total cash and cash equivalents 1,041,369 2,655,236 9.2 Short-term investments, classified as cash equivalents As of December 31, 2023 and 2022, the short-term investments classified as cash equivalents relate to mutual funds (investment liquidity funds) for investments in: Institution As of As of ThUS$ ThUS$ Legg Mason - Western Asset Institutional Cash Reserves 312,924 590,661 JP Morgan US dollar Liquidity Fund Institutional 22,845 435,485 Banco Crédito e Inversiones 5,031 — Total 340,800 1,026,146 Short-term investments are highly liquid mutual funds that are basically invested in short-term fixed rate notes in the U.S. and in Chile market. 9.3 Amount restricted cash balances The Company has granted a guarantee consisting of financial instruments, specified in deposits, custody and administration to Banco de Chile, for its subsidiary Isapre Norte Grande Ltda., in compliance with the provisions of the Superintendence of Health, which regulates social security health institutions. According to the regulations of the Superintendence of Health, this guarantee is for the total payable to its affiliates and medical providers. Banco de Chile reports the current value of the guarantee to the Superintendence of Health and Isapre Norte Grande Ltda. on a daily basis. As of December 31, 2023 and 2022, pledged assets are as follows Restricted cash balances As of As of ThUS$ ThUS$ Isapre Norte Grande Ltda. 950 717 Total 950 717 9.4 Short-term deposits, classified as cash equivalents The detail at the end of each balance date is as follows: Receiver of the deposit Type of deposit Original Interest Rate Placement date Expiration date Principal Interest As of ThUS$ ThUS$ ThUS$ Banco Santander Fixed term Dollar 0.39 % 12-11-2023 01-05-2024 5,000 16 5,016 Banco Santander Fixed term Dollar 0.28 % 12-21-2023 01-08-2024 1,300 2 1,302 Banco Crédito e Inversiones Fixed term Dollar 0.80 % 12-28-2023 02-16-2024 1,000 — 1,000 Itaú Corpbanca Fixed term Dollar 0.27 % 12-18-2023 01-05-2024 3,000 6 3,006 Itaú Corpbanca Fixed term Dollar 0.54 % 12-04-2023 01-08-2024 2,000 8 2,008 Scotiabank Sud Americano Fixed term Dollar 0.45 % 12-18-2023 01-16-2024 2,700 5 2,705 Scotiabank Sud Americano Fixed term Dollar 0.23 % 12-20-2023 01-04-2024 2,200 4 2,204 Scotiabank Sud Americano Fixed term Dollar 0.16 % 12-29-2023 01-05-2024 1,140 1 1,141 Scotiabank Sud Americano Fixed term Dollar 0.78 % 12-13-2023 01-31-2024 700 2 702 Banco de Chile Fixed term Dollar 0.70 % 12-27-2023 02-09-2024 1,850 1 1,851 Banco de Chile Fixed term Dollar 1.02 % 12-04-2023 02-05-2024 1,300 6 1,306 Banco de Chile Fixed term Dollar 0.77 % 12-14-2023 01-31-2024 1,300 4 1,304 Total 23,490 55 23,545 Receiver of the deposit Type of deposit Original Interest Rate Placement date Expiration date Principal Interest As of ThUS$ ThUS$ ThUS$ Banco Crédito e Inversiones Fixed term Peso 0.95 % 11-17-2022 01-25-2023 42,998 609 43,607 Banco Crédito e Inversiones Fixed term Peso 0.94 % 12-15-2022 01-25-2023 100,817 537 101,354 Itaú Corpbanca Fixed term Peso 0.96 % 12-06-2022 01-05-2023 41,421 343 41,764 Itaú Corpbanca Fixed term Peso 0.96 % 12-12-2022 01-25-2023 100,660 644 101,304 Itaú Corpbanca Fixed term Peso 0.95 % 11-17-2022 01-25-2023 32,248 458 32,706 Itaú Corpbanca Fixed term Peso 0.95 % 11-16-2022 01-25-2023 73,831 1,070 74,901 Itaú Corpbanca Fixed term Peso 0.96 % 12-13-2022 01-25-2023 30,146 183 30,329 Santander Fixed term Peso 0.95 % 12-16-2022 01-25-2023 103,288 523 103,811 Santander Fixed term Peso 0.94 % 12-06-2022 01-05-2023 20,710 168 20,878 Scotiabank Sud Americano Fixed term Peso 0.96 % 12-12-2022 01-25-2023 50,330 322 50,652 Scotiabank Sud Americano Fixed term Peso 0.98 % 12-13-2022 01-25-2023 100,487 621 101,108 Scotiabank Sud Americano Fixed term Peso 0.96 % 12-13-2022 01-25-2023 70,341 428 70,769 Scotiabank Sud Americano Fixed term Peso 0.97 % 12-14-2022 01-25-2023 100,258 584 100,842 Scotiabank Sud Americano Fixed term Dollar 4.54 % 11-21-2022 01-25-2023 82,000 424 82,424 Sumitomo Mitsui Banking Fixed term Dollar 4.54% 11-21-2022 01-25-2023 122,000 631 122,631 Banco Crédito e Inversiones Fixed term Dollar 0.42% 12-06-2022 01-06-2023 2,000 7 2,007 Banco Crédito e Inversiones Fixed term Dollar 0.44% 12-01-2022 01-03-2023 1,500 6 1,506 Banco Crédito e Inversiones Fixed term Peso 0.22% 12-30-2022 01-06-2023 2,103 1 2,104 Banco de Chile Fixed term Dollar 0.95% 12-12-2022 02-14-2023 600 2 602 Itaú Corpbanca Fixed term Dollar 1.02% 12-13-2022 02-16-2023 500 2 502 Itaú Corpbanca Fixed term Dollar 0.46% 11-30-2022 01-03-2023 1,000 4 1,004 Itaú Corpbanca Fixed term Dollar 0.42% 12-06-2022 01-06-2023 700 2 702 Itaú Corpbanca Fixed term Dollar 1.07% 12-21-2022 02-27-2023 1,700 3 1,703 Scotiabank Sud Americano Fixed term Dollar 0.66% 12-07-2022 01-27-2023 1,000 3 1,003 Scotiabank Sud Americano Fixed term Dollar 0.64% 11-16-2022 01-03-2023 2,500 15 2,515 Scotiabank Sud Americano Fixed term Dollar 0.72% 12-28-2022 02-13-2023 2,200 1 2,201 Scotiabank Sud Americano Fixed term Dollar 0.96% 12-30-2022 03-03-2023 500 — 500 Scotiabank Sud Americano Fixed term Dollar 0.58% 11-22-2022 01-03-2023 1,500 8 1,508 Scotiabank Sud Americano Fixed term Dollar 0.38% 12-16-2022 01-13-2023 1,500 3 1,503 Scotiabank Sud Americano Fixed term Dollar 0.87% 12-22-2022 02-16-2023 1,000 1 1,001 Total 1,091,838 7,603 1,099,441 |
Inventories
Inventories | 12 Months Ended |
Dec. 31, 2023 | |
Inventories | |
Inventories | Inventories The composition of inventory at each period-end is as follows: Type of inventory As of As of ThUS$ ThUS$ Raw material 61,098 27,035 Production supplies 77,810 68,426 Products-in-progress 744,217 590,946 Finished product 891,469 1,097,874 Total 1,774,594 1,784,281 As of December 31, 2023 and 2022, the Company held caliche stockpiles, solutions in solar ponds and intermediary salts amounting ThUS$ 503,318 and as of December 31, 2022 was ThUS$ 513,209 (including products in progress). As of December 31, 2023, bulk inventories recognized within work in progress were ThUS$ 221,559, while as of December 31, 2022 this value amounted to ThUS$ 122,284. As of December 31, 2023, bulk inventories recognized within finished goods were ThUS$ 164,029 (as of December 31, 2022, this value amounted to ThUS$ 198,796). As of December 31, 2023 and 2022, recognized inventory allowances, amounted to ThUS$ 133,768 and ThUS$ 104,057, respectively. For finished and in-process products, recognized allowances include the provision associated with the lower value of stock (considers lower realizable value, uncertain future use, reprocessing costs of off-specification products, etc.), provision for inventory differences and the provision for potential errors in the determination of inventories (e.g., errors in topography, grade, moisture, etc.). (See Note 3.15). For raw materials, supplies, materials and parts, the lower value provision was associated to the proportion of defective materials and potential differences. The breakdown of inventory allowances is detailed as follows: Type of inventory As of As of ThUS$ ThUS$ Raw material and supplies for production 7,724 4,186 Products-in-progress 104,970 83,499 Finished product 21,074 16,372 Total 133,768 104,057 The Company has not pledged inventory as collateral for the periods indicated above. As of December 31, 2023, and 2022, movements in provisions are detailed as follows: Reconciliation As of As of As of ThUS$ ThUS$ ThUS$ Beginning balance 104,057 75,892 80,930 Increase in Lower Value 32,926 29,693 (3,650) Additional Provision Differences of Inventory 455 (161) 330 Increase / Decrease eventual differences and others — — — Provision Used (3,670) (1,367) (1,718) Total changes 29,711 28,165 (5,038) Final balance 133,768 104,057 75,892 For further details, see accounting policy for inventory measurement in Note 3.15 |
Related party disclosures
Related party disclosures | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of transactions between related parties [abstract] | |
Related party disclosures | Related party disclosures 11.1 Related party disclosures Balances pending at period-end are not guaranteed, accrue no interest and are settled in cash, no guarantees have been delivered or received for trade and other receivables due from related parties or trade and other payables due to related parties. 11.2 Relationships between the parent and the entity Pursuant to Article 99 of Law of the Securities Market Law, the CMF may determine that a company does not have a controlling entity in accordance with the distribution and dispersion of its ownership. On November 30, 2018, the CMF issued the ordinary letter No. 32,131 whereby it determined that Pampa Group, do not exert decisive power over the management of the Company since it does not have a predominance in the ownership that allows it to make management decisions. Therefore, the CMF has determined not to consider Pampa Group as the controlling entity of the Company and that the Company does not have a controlling entity given its current ownership structure. 11.3 Detailed identification of related parties and subsidiaries As of December 31, 2023 and 2022, the detail of entities that are identified as subsidiaries or related parties of the SQM Group is as follows: Tax ID No Name Country of origin Functional currency Nature Foreign Nitratos Naturais Do Chile Ltda. Brazil Dollar Subsidiary Foreign SQM North America Corp. United States Dollar Subsidiary Foreign SQM Europe N.V. (4) Belgium Dollar Subsidiary Foreign Soquimich European Holding B.V. Netherlands Dollar Subsidiary Foreign SQM Corporation N.V. Curacao Dollar Subsidiary Foreign SQM Comercial De México S.A. de C.V. Mexico Dollar Subsidiary Foreign North American Trading Company United States Dollar Subsidiary Foreign Administración y Servicios Santiago S.A. de C.V. Mexico Dollar Subsidiary Foreign SQM Perú S.A. (2) Peru Dollar Subsidiary Foreign SQM Ecuador S.A. Ecuador Dollar Subsidiary Foreign SQM Nitratos Mexico S.A. de C.V. Mexico Dollar Subsidiary Foreign SQMC Holding Corporation L.L.P. United States Dollar Subsidiary Foreign SQM Investment Corporation N.V. Curacao Dollar Subsidiary Foreign SQM Brasil Limitada Brazil Dollar Subsidiary Foreign SQM France S.A. France Dollar Subsidiary Foreign SQM Japan Co. Ltd. Japan Dollar Subsidiary Foreign Royal Seed Trading Corporation A.V.V. Aruba Dollar Subsidiary Foreign SQM Oceania Pty Limited Australia Dollar Subsidiary Foreign Rs Agro-Chemical Trading Corporation A.V.V. Aruba Dollar Subsidiary Foreign SQM Indonesia S.A. Indonesia Dollar Subsidiary Foreign SQM Virginia L.L.C. United States Dollar Subsidiary Foreign Comercial Caimán Internacional S.A. (3) Panama Dollar Subsidiary Foreign SQM África Pty. Ltd. South Africa Dollar Subsidiary Foreign SQM Colombia SAS Colombia Dollar Subsidiary Foreign SQM Internacional N.V. Belgium Dollar Subsidiary Foreign SQM -Shanghai Chemicals Co. Ltd. China Dollar Subsidiary Foreign SQM Lithium Specialties LLC United States Dollar Subsidiary Foreign SQM Iberian S.A. Spain Dollar Subsidiary Foreign SQM Beijing Commercial Co. Ltd. China Dollar Subsidiary Foreign SQM Thailand Limited Thailand Dollar Subsidiary Foreign SQM Australia PTY Australia Dollar Subsidiary Tax ID No Name Country of origin Functional currency Nature Foreign SQM Holland B.V. Netherlands Dollar Subsidiary Foreign SQM Korea LLC Korea Dollar Subsidiary 96.801.610-5 Comercial Hydro S.A. Chile Dollar Subsidiary 96.651.060-9 SQM Potasio S.A. Chile Dollar Subsidiary 96.592.190-7 SQM Nitratos S.A. Chile Dollar Subsidiary 96.592.180-K Ajay SQM Chile S.A. Chile Dollar Subsidiary 79.947.100-0 SQM Industrial S.A. Chile Dollar Subsidiary 79.906.120-1 Isapre Norte Grande Ltda. Chile Peso Subsidiary 79.876.080-7 Almacenes y Depósitos Ltda. Chile Peso Subsidiary 79.770.780-5 Servicios Integrales de Tránsitos y Transferencias S.A. Chile Dollar Subsidiary 79.768.170-9 Soquimich Comercial S.A. Chile Dollar Subsidiary 79.626.800-K SQM Salar S.A. Chile Dollar Subsidiary 76.534.490-5 Sociedad Prestadora de Servicios de Salud Cruz del Norte S.A. Chile Peso Subsidiary 76.425.380-9 Exploraciones Mineras S.A. Chile Dollar Subsidiary 76.064.419-6 Comercial Agrorama Ltda. Chile Peso Subsidiary 76.145.229-0 Agrorama S.A. Chile Peso Subsidiary 76.359.919-1 Orcoma Estudios SPA Chile Dollar Subsidiary 76.360.575-2 Orcoma SPA Chile Dollar Subsidiary 76.686.311-9 SQM MaG SpA Chile Dollar Subsidiary 77.114.779-8 Sociedad Contractual Minera Bufalo Chile Dollar Subsidiary Foreign Ajay North America United States Dollar Associate Foreign Abu Dhabi Fertilizer Industries WWL United Arab Emirates Arab Emirates dirham Associate Foreign Ajay Europe SARL France Euro Associate Foreign Electronic era Technologies Inc. United States Dollar Associate Foreign Altilium Metals Ltd. United Kingdom Pound Sterling Associate Foreign SAS Adionics France Euro Associate Foreign Pirra Lithium Pty Ltd. Australia Australian Dollar Associate Foreign SQM Vitas Fzco. United Arab Emirates Arab Emirates dirham Joint venture Foreign Covalent Lithium Pty Ltd. Australia Dollar Joint venture Foreign Pavoni & C, SPA Italy Euro Joint venture 96.511.530-7 Sociedad de Inversiones Pampa Calichera Chile Dollar Other related parties 96.529.340-K Norte Grande S.A. Chile Peso Other related parties Foreign SQM Vitas Brasil Agroindustria (6) Brazil Brazilian real Other related parties Foreign SQM Vitas Perú S.A.C. (1) Peru Dollar Other related parties _______________________________________________ (1) These Companies are subsidiaries of the joint venture SQM Vitas Fzco. (2) This Company was liquidated in December 2022. (3) This Company was liquidated in March 2023. (4) On July 1, 2023, SQM Europe N.V. absorbed SQM International N.V. (5) This new company was incorporated on December 11, 2023. (6) This company was sold on December 19, 2023. The following other related parties correspond to mining contractual corporations. Tax ID No. Name Country of origin Functional currency Relationship N/A Sociedad Contractual Minera Pampa Unión Chile Peso Other related parties Below is a list of transactions with clients and suppliers with whom a relationship with key Company personnel was identified: Tax ID No Name Country of origin Nature 90.193.000-7 El Mercurio S.A.P. Chile Other related parties 92.580.000-7 Empresa Nacional de Telecomunicaciones S.A. Chile Other related parties 96.806.980-2 Entel PCS Telecomunicaciones S.A. Chile Other related parties 97.004.000-5 Banco de Chile Chile Other related parties 99.012.000-5 Compañía de Seguros de Vida Consorcio Nacional Chile Other related parties 65.614.340-1 Corporación Endeavor Chile Chile Other related parties 82.135.600-8 Instituto Chileno administración empresas Chile Other related parties 96.532.830-0 Sociedad Inversiones Oro Blanco S.A. Chile Other related parties 11.4 Detail of related parties and related party transactions Transactions between the Company and its subsidiaries, associated businesses, joint ventures and other related parties are part of the Company’s common transactions. Their conditions are those customary for this type of transactions in respect of terms and market prices. Maturity terms for each case vary by virtue of the transaction giving rise to them. For the year ended December 31, 2023, 2022 and 2021, the detail of significant transactions with related parties is as follows Tax ID No Name Nature Country of origin Transaction For the year ended For the year ended For the year ended ThUS$ ThUS$ ThUS$ Foreign Ajay Europe S.A.R.L. Associate France Sale of products 45,314 45,205 35,597 Foreign Ajay Europe S.A.R.L. Associate France Dividends 4,682 1,778 992 Foreign Ajay North America LL.C. Associate United States Sale of products 30,791 41,814 27,763 Foreign Ajay North America LL.C. Associate United States Dividends 4,013 1,576 1,233 Foreign Abu Dhabi Fertilizer Industries WWL Associate United Arab Emirates Dividends 633 3,000 9,438 Foreign SQM Vitas Brasil Agroindustria Other related parties Brazil Sale of products 9,019 51,748 79,086 Foreign SQM Vitas Perú S.A.C. Other related parties Perú Sale of products 17,312 58,077 17,016 Foreign Coromandel SQM India Joint venture India Sale of products — — 1,814 Foreign Pavoni & CPA Joint venture Italy Sale of products 5,541 4,138 5,359 Chile Banco de Chile Other related parties Chile Service Provider (32,418) (27,918) (20,904) Chile El Mercurio S.A.P. Other related parties Chile Service Provider (1,038) (90) (131) Chile Compañía de Seguros de Vida Consorcio Nacional Other related parties Chile Service Provider (33) (31) (134) Chile Entel PCS Telecomunicaciones S.A. Other related parties Chile Service Provider (182) (228) (157) Chile Gonzalo Guerrero Yamamoto Other related parties Chile Service Provider — (19) (79) Chile Empresa Nacional de Telecomunicaciones Other related parties Chile Service Provider (3,485) (1,746) (2,393) Chile Instituto Chileno administración empresas Other related parties Chile Service Provider (134) (46) — Chile Fundación para el desarrollo social Other related parties Chile Service Provider — (7) — Chile Corporación Endeavor Chile Other related parties Chile Service Provider (101) — — 11.5 Trade receivables due from related parties, current: Tax ID No Name Nature Country of origin Currency As of As of ThUS$ ThUS$ Foreign Ajay Europe S.A. R.L. Associate France Euro 8,932 7,967 Foreign Ajay North America LLC. Associate United States of America Dollar 4,393 8,354 96.511.530-7 Soc. de Inversiones Pampa Calichera Other related parties Chile Dollar 5 5 Foreign SQM Vitas Brasil Agroindustria Other related parties Brazil Dollar — 32,054 Foreign SQM Vitas Perú S.A.C. Other related parties Peru Dollar 27,115 31,081 Foreign SQM Vitas Fzco. Joint venture United Arab Emirates United Arab Emirates Dirham 232 232 Foreign Pavoni & C SpA Joint venture Italy Euro 2,576 888 Foreign Covalent Lithium Pty Ltd. Joint venture Australia Australian dollar — 1,041 Total 43,253 81,622 As of December 31, 2023 and 2022, receivables are net of provision for ThUS$ 800 and ThUS$ 1,378, respectively. 11.6 Other disclosures: Tax ID No Name Nature Country of origin Currency As of As of ThUS$ ThUS$ Foreign Covalent Lithium Pty Ltd. Joint venture Australia Australian dollar 2,346 — Total 2,346 — 11.7 Other disclosures: Note 6 describes the remuneration of the board of directors, administration and key management personnel. |
Financial instruments
Financial instruments | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of detailed information about financial instruments [abstract] | |
Financial instruments | Financial instruments 12.1 Types of other current and non-current financial assets Description of other financial assets As of As of ThUS$ ThUS$ Financial assets at amortized cost (1) 1,316,797 950,167 Derivative financial instruments - For hedging 8,527 7,014 - Non-hedging (2) 519 4,174 Total other current financial assets 1,325,843 961,355 Financial assets at fair value through other comprehensive income (4) 232,268 9,497 Derivative financial instruments - For hedging 15,993 22,606 Other financial assets at amortized cost 20 23 Total other non-current financial assets 248,281 32,126 Institution As of As of ThUS$ ThUS$ Banco de Crédito e Inversiones 74,459 187,707 Banco Morgan Stanley (3) 5,590 — Banco Santander 100,083 51,444 Banco Itau CorpBanca 372,061 15,048 Banco Estado — 85,055 Banco de Chile — 150,259 Scotiabank Sud Americano 672,720 250,362 Sumitomo Mitsui Banking 91,884 210,292 Total 1,316,797 950,167 ________________________________________________ (1) Corresponds to term deposits whose maturity date is greater than 90 days and less than 360 days from the investment date constituted in the aforementioned financial institutions. (2) Correspond to forwards and options that were not classified as hedging instruments (See detail in Note 12.3). (3) As of December 31, 2023, collateral guarantees total ThUS$ 5,590, which are related to hedging derivative instruments.. As of December 31, 2022, there were no collateral guarantees. (4) During the first quarter of 2023, the Company made an investment of ThUS$13,480 to acquire a 19.99% interest in Azure Minerals Limited (a company listed on the Australian Stock Exchange). The Company and Azure have entered into an acquisition agreement under which the Company has the right to choose a director and acquire 25% of all lithium products in which Azure has an interest on commercially competitive market terms. During the third and fourth quarter, the Company invested an additional ThUS$12,904 and ThUS$4,317, respectively, to maintain its ownership interest. As of December 31, 2023, the Company did not exercise significant influence over this entity and therefore this investment has been recognized as a financial instrument at fair value with changes in other comprehensive income on an irrevocable basis. The impact on other comprehensive income amounts to ThUS$135,358, net of tax. 12.2 Trade and other receivables As of December 31, 2023 As of December 31, 2022 Trade and other receivables Current Non-current Total Current Non-current Total ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Trade receivables, current 784,422 — 784,422 1,002,223 — 1,002,223 Prepayments, current 74,630 — 74,630 38,709 — 38,709 Other receivables, current 18,163 2,559 20,722 16,648 2,091 18,739 Guarantee deposits (1) 29,966 — 29,966 29,840 — 29,840 Total trade and other receivables 907,181 2,559 909,740 1,087,420 2,091 1,089,511 See discussion about credit risk in Note 4.2. As of December 31, 2023 As of December 31, 2022 Trade and other receivables Gross Impairment Trade receivables, Gross Impairment Trade receivables, ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Receivables related to credit operations, current 787,667 (3,245) 784,422 1,006,982 (4,759) 1,002,223 Prepayments, current 75,414 (784) 74,630 39,493 (784) 38,709 Other receivables, current 21,209 (3,046) 18,163 19,920 (3,272) 16,648 Guarantee deposits (1) 29,966 — 29,966 29,840 — 29,840 Other receivables, non-current 2,559 — 2,559 2,091 — 2,091 Total trade and other receivables 916,815 (7,075) 909,740 1,098,326 (8,815) 1,089,511 (1) During the third quarter of 2022, the Company signed an agreement for an option to potentially acquire a battery-grade lithium hydroxide monohydrate plant with a production capacity of approximately 20,000 tons per year from lithium sulfate salts. In addition, the transaction secures rights to adjacent land for future expansion. The acquisition cost totals CNY 869 million (ThUS$ 119,575) broken down into a deposit of CNY 204.5 million (ThUS$ 29,322) paid in the first quarter of 2022, The disbursement of the remaining amounts is subject to compliance with various conditions. The Company´s payments would be backed by various guarantees granted by the seller and any failure to fulfil the conditions required by the contract would be considered a material breach of contract, giving the Company the right to demand the restitution of the amounts already paid. As of December 31, 2023, and 2022 the renegotiated portfolio represented 0% of total trade receivables. (a) Impairment provision for doubtful receivables As of December 31, 2023 Trade accounts receivable days past due Trade and other receivables Current 1 to 30 days 31 to 60 days 61 to 90 days Over 90 days Trade Trade receivables ThUS$ ThUS$ Expected Loss Rate on 0% 2 % 7 % 2 % 39 % — — Total Gross Book Value 758,781 18,732 2,684 3,509 3,961 787,667 44,053 Impairment Estimate 1,007 422 197 67 1,552 3,245 800 As of December 31, 2022 Trade accounts receivable days past due Trade receivables Trade and other receivables Current 1 to 30 days 31 to 60 days 61 to 90 days Over 90 days Trade ThUS$ ThUS$ Expected Loss Rate on 0% 1 % 7 % 6 % 81 % — — Total Gross Book Value 968,129 30,187 1,457 3,336 3,873 1,006,982 83,000 Impairment Estimate 948 391 108 186 3,126 4,759 1,378 As of December 31, 2023, and 2022, movements in provisions are as follows: Provisions As of As of As of ThUS$ ThUS$ ThUS$ Impairment provision of Accounts receivable at the beginning of the year 10,193 14,716 27,273 Increase (decrease) impairment of accounts receivable (202) (3,369) 235 Write-off of receivables (1,351) — (11,091) Difference in exchange rate (765) (1,154) (1,701) Impairment provision of Accounts Receivable Provision at the end of the year 7,875 10,193 14,716 Trade and other Receivables Provision 3,245 4,759 10,352 Current other Receivables Provision 3,830 4,056 3,647 Trade receivables with related parties, current Provision 800 1,378 717 Recovery of Insurrance — — 210 Impairment provision of Accounts Receivable 7,875 10,193 14,716 12.3 Hedging assets and liabilities The balance represents derivative financial instruments measured at fair value which have been classified as hedges for exchange and interest rate risks relating to the total obligations with the public associated with bonds in UF and investments in Chilean pesos. (See more detail in Note 4.2 b). As of December 31, 2023 Assets Liabilities Total Realized Hedging Reserve in Type of Instrument: Cross currency interest rate swaps and Forwards Cash flow hedge derivatives Short term 7,038 30,442 — — Long term 15,993 8,368 — — Subtotal 23,031 38,810 (13,067) (2,712) Type of Instrument: Forwards Non-hedging derivates disbursement SQM Australia Pty Short term 1,489 — — — Long term — 52 — 1,437 Subtotal 1,489 52 — 1,437 Underlying Investments Hedge 24,520 38,862 (13,067) (1,275) Type of Instrument: Forwards/Options Non-hedge derivates with effect on income Short term 519 14,795 — — Underlying Investments Hedge 519 14,795 5,401 — Total Instruments 25,039 53,657 (7,666) (1,275) The Company recouponed the CCS with Santander Bank who had hedged the Series Q bond, by moving the UF/USD exchange rate upwards. This change increased the USD value of the bond by ThUS$16,440 and its interest payable. Santander Bank paid the company ThUS$17,320 on August 18, 2023 in exchange for this amendment. As of December 31, 2022 Assets Liabilities Total Realized Hedging Reserve in Type of Instrument: Cross currency interest rate swaps and Forwards Cash flow hedge derivatives Short term 7,014 42,754 — — Long term 15,467 19,772 — — Subtotal 22,481 62,526 (12,939) (27,106) Type of Instrument: Forwards Non-hedging derivates disbursement SQM Australia Pty Long term 7,139 — — 7,139 Subtotal 7,139 — — 7,139 Underlying Investments Hedge 29,620 62,526 (12,939) (19,967) Type of Instrument: Forwards/Options Non-hedge derivates with effect on income Short term 4,174 5,816 — — Underlying Investments Hedge 4,174 5,816 38,653 — Total Instruments 33,794 68,342 25,714 (19,967) ________________________________________________ (1) See underlying hedges in Note 4.2 letters b) and d) and movement of cash flow hedge reserve in Note 19.4. The balances in the column “Total Realized” consider the intermediate effects of the contracts that were in place between January 1 and December 31, 2023, and January 1 and December 31, 2022. Reconciliation of asset and As of December Cash Flow Income Statement Equity and Others As of December Hedge-to-debt derivatives (10,061) (14,850) 6,631 20,800 2,520 Hedging derivatives to investment (29,984) (10,082) 18,171 3,595 (18,300) Non-hedging derivatives disbursement SQM Australia Pty asset 7,139 1,183 (1,183) (5,702) 1,437 Non-hedging derivatives (1,642) (18,034) 5,401 — (14,275) Reconciliation of asset and As of December Cash Flow Income Statement Equity and Others As of December Hedge-to-debt derivatives (81,597) 8,616 37,494 25,426 (10,061) Hedging derivatives to investment 12,613 (52,698) 16,104 (6,003) (29,984) Non-hedging derivatives disbursement SQM Australia Pty asset — 2,022 — 5,117 7,139 Non-hedging derivatives (418) (39,878) 38,653 — (1,642) Derivative contract maturities are detailed as follows: Series Contract amount Currency Maturity date ThUS$ H 91,718 UF 01/05/2024 O 58,748 UF 02/01/2030 P 134,228 UF 01/15/2028 Q 123,370 UF 06/01/2030 Effectiveness The Company uses CCS, Forwards and IRS to hedge the potential financial risk associated with exchange rate and interest rate volatility. The objective is to hedge the exchange rate and inflation financial risks associated with bond obligations, exchange rate financial risks associated with investments in Chilean pesos, exchange rate financial risk associated with projects under construction in Australian dollars and interest rate financial risk associated with bank loans. Hedges are documented and qualitatively assessed to demonstrate their effectiveness based on a comparison of their critical terms. The hedges used by the Company as of the reporting date are highly effective given that the amounts, currencies, exchange dates and rates of the hedged item and the hedge are aligned, maintaining a close economic relationship. 12.4 Financial liabilities Other current and non-current financial liabilities As of December 31, 2023, and 2022, the detail is as follows: As of December 31, 2023 As of December 31, 2022 Other current and non-current financial Currents Non-Current Total Currents Non-Current Total ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Liabilities at amortized cost Bank borrowings 1,164,262 295,518 1,459,780 130,840 197,522 328,362 Unsecured obligations 46,999 2,909,485 2,956,484 343,589 2,176,924 2,520,513 Derivative financial instruments For hedging 30,443 8,419 38,862 42,754 19,772 62,526 Non-Hedging 14,795 — 14,795 5,816 — 5,816 Total 1,256,499 3,213,422 4,469,921 522,999 2,394,218 2,917,217 a) Bank borrowings, current: As of December 31, 2023, the detail of this caption is as follows: Debtor Creditor Currency or Tax ID No Company Country Tax ID No. Financial institution Country Repayment maturity Effective rate Nominal rate 93.007.000-9 SQM S.A. Chile O-E Bank of Nova Scotia United States of America Dollar Upon maturity 06/21/2024 5.88 % 6.64 % 93.007.000-9 SQM S.A. Chile O-E Banco Santander/Kexim Spain/South Korea Dollar Upon maturity 06/21/2024 4.49 % 6.36 % 93.007.000-9 SQM S.A. Chile 97.043.000-8 JP Morgan Chile Dollar Upon maturity 05/28/2024 6.69 % 6.69 % 93.007.000-9 SQM S.A. Chile 97.036.000-K Banco Santander Chile Dollar Upon maturity 05/17/2024 5.95 % 5.95 % 93.007.000-9 SQM S.A. Chile 97.036.000-K Banco Santander Chile Dollar Upon maturity 08/26/2024 6.88 % 6.88 % 93.007.000-9 SQM S.A. Chile 97.018.000-1 Scotiabank Chile Chile Dollar Upon maturity 05/30/2024 6.19 % 6.19 % 93.007.000-9 SQM S.A. Chile 97.030.000-7 Banco Estado Chile Dollar Upon maturity 02/20/2024 6.18 % 6.18 % 93.007.000-9 SQM S.A. Chile 97.030.000-7 Banco Estado Chile Dollar Upon maturity 06/10/2024 6.19 % 6.19 % 93.007.000-9 SQM S.A. Chile 97.006.000-6 BCI Chile Dollar Upon maturity 04/18/2024 6.01 % 6.01 % 93.007.000-9 SQM S.A. Chile 97.006.000-6 BCI Chile Dollar Upon maturity 10/17/2024 5.84 % 6.46 % 93.007.000-9 SQM S.A. Chile 97.006.000-6 BCI Chile Dollar Upon maturity 05/24/2024 6.17 % 6.17 % 93.007.000-9 SQM S.A. Chile 97.023.000-9 Banco Itau Chile Dollar Upon maturity 07/05/2024 6.50 % 6.50 % 79.947.100-0 SQM Industrial S.A. Chile 97.004.000-5 Banco de Chile Chile Dollar Upon maturity 05/16/2024 5.85 % 5.85 % 79.947.100-0 SQM Industrial S.A. Chile 97.023.000-9 Banco Itau Chile Dollar Upon maturity 07/05/2024 6.50 % 6.50 % 79.626.800-K SQM Salar S.A. Chile 97.023.000-9 Banco Itau Chile Dollar Upon maturity 07/05/2024 6.50 % 6.50 % 79.626.800-K SQM Salar S.A. Chile 97.023.000-9 Banco Itau Chile Dollar Upon maturity 07/05/2024 6.50 % 6.50 % 79.626.800-K SQM Salar S.A. Chile 97.018.000-1 Scotiabank Chile Chile Dollar Upon maturity 05/17/2024 6.07 % 6.07 % 79.626.800-K SQM Salar S.A. Chile 97.018.000-1 Scotiabank Chile Chile Dollar Upon maturity 05/30/2024 6.19 % 6.19 % 79.626.800-K SQM Salar S.A. Chile 97.030.000-7 Banco Estado Chile Dollar Upon maturity 07/18/2024 5.92 % 6.15 % 79.626.800-K SQM Salar S.A. Chile 97.030.000-7 Banco Estado Chile Dollar Upon maturity 06/10/2024 6.19 % 6.19 % 79.626.800-K SQM Salar S.A. Chile 97.004.000-5 Banco de Chile Chile Dollar Upon maturity 05/16/2024 5.85 % 5.85 % 79.626.800-K SQM Salar S.A. Chile 97.004.000-5 Banco de Chile Chile Dollar Upon maturity 06/21/2024 6.25 % 6.25 % Debtor Creditor Nominal amounts as of December 31, 2023 Current amounts as of December 31, 2023 Company Financial institution Up to 90 days 90 days to 1 year Total Up to 90 days 90 days to 1 Subtotal Borrowing Total ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ SQM S.A. Bank of Nova Scotia — — — — 406 406 — 406 SQM S.A. Banco Santander — 120,000 120,000 — 124,383 124,383 — 124,383 SQM S.A. Banco Santander — 200,000 200,000 — 204,625 204,625 — 204,625 SQM S.A. Banco JP Morgan — 50,000 50,000 — 50,288 50,288 — 50,288 SQM S.A. Banco Santander/Kexim — — — — 177 177 — 177 SQM S.A. Scotiabank Chile — 25,000 25,000 — 25,898 25,898 — 25,898 SQM S.A. Banco Estado 15,000 — 15,000 15,569 — 15,569 — 15,569 SQM S.A. Banco Estado — 20,000 20,000 — 20,695 20,695 — 20,695 SQM S.A. BCI — 100,000 100,000 — 104,176 104,176 — 104,176 SQM S.A. BCI — 100,000 100,000 — 101,238 101,238 — 101,238 SQM S.A. BCI — 50,000 50,000 — 51,825 51,825 — 51,825 SQM S.A. Banco Itau — 10,000 10,000 — 10,309 10,309 — 10,309 SQM Industrial S.A. Banco de Chile — 30,000 30,000 — 31,077 31,077 — 31,077 SQM Industrial S.A. Banco Itau — 20,000 20,000 — 20,618 20,618 — 20,618 SQM Salar S.A. Banco Itau — 10,000 10,000 — 10,311 10,311 — 10,311 SQM Salar S.A. Banco Itau — 20,000 20,000 — 20,618 20,618 — 20,618 SQM Salar S.A. Scotiabank Chile — 50,000 50,000 — 51,864 51,864 — 51,864 SQM Salar S.A. Scotiabank Chile — 50,000 50,000 — 51,797 51,797 — 51,797 SQM Salar S.A. Banco Estado — 70,000 70,000 — 71,913 71,913 — 71,913 SQM Salar S.A. Banco Estado — 80,000 80,000 — 82,779 82,779 — 82,779 SQM Salar S.A. Banco de Chile — 40,000 40,000 — 41,436 41,436 — 41,436 SQM Salar S.A. Banco de Chile — 70,000 70,000 — 72,260 72,260 — 72,260 Total 15,000 1,115,000 1,130,000 15,569 1,148,693 1,164,262 — 1,164,262 As of December 31, 2022 Debtor Creditor Currency or Tax ID No Company Country Tax ID No. Financial institution Country Repayment maturity Effective rate Nominal rate 93.007.000-9 SQM S.A. Chile O-E Scotiabank Cayman United States of America Dollar Upon maturity 05/30/2023 0.97 % 5.22 % 93.007.000-9 SQM S.A. Chile 97.023.000-9 Banco Itau Chile Dollar Upon maturity 01/05/2023 4.50 % 4.50 % 93.007.000-9 SQM S.A. Chile 97.030.000-7 Banco Estado Chile Dollar Upon maturity 01/05/2023 4.59 % 4.59 % Debtor Creditor Nominal amounts as of December 31, 2022 Current amounts as of December 31, 2022 Up to 90 days 90 days to Total Up to 90 days 90 days to 1 Subtotal Borrowing Total Company Financial institution ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ SQM S.A. Scotiabank Cayman — 70,000 70,000 — 70,393 70,393 (149) 70,244 SQM S.A. Banco Itau 20,000 — 20,000 20,062 — 20,062 — 20,062 SQM S.A. Banco Estado 40,000 — 40,000 40,128 — 40,128 — 40,128 SQM S.A. Scotiabank — — — 406 — 406 — 406 Total 60,000 70,000 130,000 60,596 70,393 130,989 (149) 130,840 b) Unsecured obligations, current: As of December 31, 2023, the detail of current unsecured interest-bearing obligations is composed of promissory notes and bonds, as follows: Debtor Number of Currency or Periodicity Tax ID No. Company Country Series Maturity date Payment of Repayment Effective rate Nominal rate 93.007.000-9 SQM S.A. Chile — ThUS$250,000 01/28/2024 Dollar Semiannual Upon maturity 0.80 % 4.38 % 93.007.000-9 SQM S.A. Chile — ThUS$450,000 05/07/2024 Dollar Semiannual Upon maturity 2.39 % 4.25 % 93.007.000-9 SQM S.A. Chile — ThUS$400,000 01/22/2024 Dollar Semiannual Upon maturity 3.62 % 4.25 % 93.007.000-9 SQM S.A. Chile — ThUS$700,000 03/10/2024 Dollar Semiannual Upon maturity 3.30 % 3.50 % 93.007.000-9 SQM S.A. Chile — ThUS$750,000 05/07/2024 Dollar Semiannual Upon maturity 6.89 % 6.50 % 93.007.000-9 SQM S.A. Chile 564 H 01/05/2024 UF Semiannual Semiannual 1.58 % 4.90 % 93.007.000-9 SQM S.A. Chile 699 O 02/01/2024 UF Semiannual Upon maturity 1.68 % 3.80 % 93.007.000-9 SQM S.A. Chile 563 P 01/15/2024 UF Semiannual Upon maturity 1.41 % 3.25 % 93.007.000-9 SQM S.A. Chile 700 Q 06/01/2024 UF Semiannual Upon maturity 2.41 % 3.45 % Effective rates of bonds in Pesos and UF are expressed and calculated in Dollars based on the flows agreed in Cross Currency Swap Agreements. Nominal amounts as of December 31, 2023 Carrying amounts of maturities as of December 31, 2023 Company Country Series Up to 90 90 days to 1 Total Up to 90 days 90 days to Subtotal Borrowing Total ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ SQM S.A. Chile ThUS$250,000 4,648 — 4,648 4,648 — 4,648 (433) 4,215 SQM S.A. Chile ThUS$450,000 — 2,869 2,869 — 2,869 2,869 (677) 2,192 SQM S.A. Chile ThUS$400,000 7,508 — 7,508 7,508 — 7,508 (235) 7,273 SQM S.A. Chile ThUS$700,000 7,554 — 7,554 7,554 — 7,554 (555) 6,999 SQM S.A. Chile ThUS$750,000 — 7,312 7,312 — 7,312 7,312 (1,521) 5,791 SQM S.A. Chile H 17,599 — 17,599 17,599 — 17,599 (172) 17,427 SQM S.A. Chile O 987 — 987 987 — 987 (82) 905 SQM S.A. Chile P 1,871 — 1,871 1,871 — 1,871 (12) 1,859 SQM S.A. Chile Q — 359 359 — 359 359 (21) 338 Total 40,167 10,540 50,707 40,167 10,540 50,707 (3,708) 46,999 As of December 31, 2022 Debtor Number of Currency or Periodicity Tax I No. Company Country Series Maturity date Payment of Repayment Effective rate Nominal rate 93.007.000-9 SQM S.A. Chile — ThUS$250,000 01/28/2023 Dollar Semiannual Upon maturity 1.17 % 4.38 % 93.007.000-9 SQM S.A. Chile — ThUS$300,000 04/03/2023 Dollar Semiannual Upon maturity 0.56 % 3.63 % 93.007.000-9 SQM S.A. Chile — ThUS$450,000 05/07/2023 Dollar Semiannual Upon maturity 3.01 % 4.25 % 93.007.000-9 SQM S.A. Chile — ThUS$400,000 01/22/2023 Dollar Semiannual Upon maturity 3.79 % 4.25 % 93.007.000-9 SQM S.A. Chile — ThUS$700,000 03/10/2023 Dollar Semiannual Upon maturity 3.44 % 3.50 % 93.007.000-9 SQM S.A. Chile 564 H 01/05/2023 UF Semiannual Semiannual 1.23 % 4.90 % 93.007.000-9 SQM S.A. Chile 699 O 02/01/2023 UF Semiannual Upon maturity 1.89 % 3.80 % 93.007.000-9 SQM S.A. Chile 563 P 01/15/2023 UF Semiannual Upon maturity 1.72 % 3.25 % 93.007.000-9 SQM S.A. Chile 700 Q 06/01/2023 UF Semiannual Upon maturity 2.63 % 3.45 % Effective rates of bonds in Pesos and UF are expressed and calculated in Dollars based on the flows agreed in Cross Currency Swap Agreements. Nominal amounts as of December 31, 2022 Carrying amounts of maturities as of December 31, 2022 Company Country Series Up to 90 90 days to 1 Total Up to 90 days 90 days to Subtotal Borrowing costs Total ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ SQM S.A. Chile ThUS$250,000 4,648 — 4,648 4,648 — 4,648 (433) 4,215 SQM S.A. Chile ThUS$300,000 — 302,658 302,658 — 302,658 302,658 (170) 302,488 SQM S.A. Chile ThUS$450,000 — 2,869 2,869 — 2,869 2,869 (679) 2,190 SQM S.A. Chile ThUS$400,000 7,508 — 7,508 7,508 — 7,508 (237) 7,271 SQM S.A. Chile ThUS$700,000 — 7,554 7,554 — 7,554 7,554 (555) 6,999 SQM S.A. Chile H 17,566 — 17,566 17,566 — 17,566 (172) 17,394 SQM S.A. Chile O 965 — 965 965 — 965 (82) 883 SQM S.A. Chile P 1,830 — 1,830 1,830 — 1,830 (12) 1,818 SQM S.A. Chile Q — 351 351 — 351 351 (20) 331 Total 32,517 313,432 345,949 32,517 313,432 345,949 (2,360) 343,589 c) Bank borrowings -non-current The following table shows the details of bank loans as of December 31, 2023: Debtor Creditor Currency or Type of amortization Effective rate Nominal rate Tax ID No. Company Country Tax ID No. Financial institution Country 93.007.000-9 SQM S.A. Chile O-E Bank of Nova Scotia Canada Dollar Upon Maturity 5.88 % 6.64 % 93.007.000-9 SQM S.A. Chile O-E Banco Santander/Kexim Spain/South Korea Dollar Upon Maturity 5.49 % 6.36 % Debtor Creditor Nominal non-current maturities as of December 31, 2023 Carrying amounts of maturities as of December 31, 2023 Company Financial institution Between 1 and 2 Between 2 Between 3 Total Between 1 Between 2 Between 3 Subtotal Costs of Total ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ SQM S.A. Bank of Nova Scotia — 200,000 — 200,000 — 200,000 — 200,000 (1,648) 198,352 SQM S.A. Banco Santander/Kexim — — 100,000 100,000 — — 100,000 100,000 (2,834) 97,166 Total — 200,000 100,000 300,000 — 200,000 100,000 300,000 (4,482) 295,518 As of December 31, 2022 Debtor Creditor Currency or Type of amortization Effective rate Nominal rate Tax ID No. Company Country Tax ID No. Financial institution Country 93.007.000-9 SQM S.A. Chile O-E Scotiabank Cayman United States of America Dollar Upon Maturity 2.33 % 3.19 % 93.007.000-9 SQM S.A. Chile O-E Scotiabank Canada Dollar Upon Maturity 5.10 % 6.08 % Debtor Creditor Nominal non-current maturities as of December 31, 2022 Carrying amounts of maturities as of December 31, 2022 Company Financial institution Between 1 and 2 Between 2 Between 3 Total Between 1 Between 2 Between 3 Subtotal Costs of obtaining loans Total ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ SQM S.A. Scotiabank Cayman — — — — — — — — — — SQM S.A. Scotiabank — 200,000 — 200,000 — 200,000 — 200,000 (2,478) 197,522 Total — 200,000 — 200,000 — 200,000 — 200,000 (2,478) 197,522 d) Unsecured obligations, non-current The following table shows the details of “unsecured debentures that accrue non-current interest” as of December 31, 2023: Debtor Number of Currency or Periodicity Tax ID No. Company Country Series Maturity date Payment of Repayment Effective rate Nominal rate 93.007.000-9 SQM S.A. Chile — ThUS$250,000 01/28/2025 Dollar Semiannual Upon maturity 4.24 % 4.38 % 93.007.000-9 SQM S.A. Chile — ThUS$450,000 05/07/2029 Dollar Semiannual Upon maturity 4.14 % 4.25 % 93.007.000-9 SQM S.A. Chile — ThUS$400,000 01/22/2050 Dollar Semiannual Upon maturity 4.23 % 4.25 % 93.007.000-9 SQM S.A. Chile — ThUS$700,000 09/10/2051 Dollar Semiannual Upon maturity 3.45 % 3.50 % 93.007.000-9 SQM S.A. Chile — ThUS$750,000 11/07/2033 Dollar Semiannual Upon maturity 6.89 % 6.50 % 93.007.000-9 SQM S.A. Chile 564 H 01/05/2030 UF Semiannual Semiannual 4.76 % 4.90 % 93.007.000-9 SQM S.A. Chile 699 O 02/01/2033 UF Semiannual Upon maturity 3.69 % 3.80 % 93.007.000-9 SQM S.A. Chile 563 P 01/15/2028 UF Semiannual Upon maturity 3.24 % 3.25 % 93.007.000-9 SQM S.A. Chile 700 Q 06/01/2038 UF Semiannual Upon maturity 3.54 % 3.45 % Nominal non-current maturities as of December 31, 2023 Carrying amounts of maturities as of December 31, 2023 Series Over 1 Over 2 Over 3 Over 4 Over 5 Total Over 1 Over 2 Over 3 Over 4 Over 5 Subtotal Bond Total ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$250,000 250,000 — — — — 250,000 250,000 — — — — 250,000 (36) 249,964 ThUS$450,000 — — — — 450,000 450,000 — — — — 450,000 450,000 (2,991) 447,009 ThUS$400,000 — — — — 400,000 400,000 — — — — 400,000 400,000 (5,879) 394,121 ThUS$700,000 — — — — 700,000 700,000 — — — — 700,000 700,000 (14,787) 685,213 ThUS$750,000 — — — — 750,000 750,000 — — — — 750,000 750,000 (13,437) 736,563 H — — — — 83,887 83,887 — — — — 83,887 83,887 (861) 83,026 O — — — — 62,915 62,915 — — — — 62,915 62,915 (659) 62,256 P — — — — 125,830 125,830 — — — — 125,830 125,830 (40) 125,790 Q — — — — 125,830 125,830 — — — — 125,830 125,830 (287) 125,543 Total 250,000 — — — 2,698,462 2,948,462 250,000 — — — 2,698,462 2,948,462 (38,977) 2,909,485 As of December 31, 2022 Debtor Number of Currency or Periodicity Tax ID No. Company Country Series Maturity date Payment of Repayment Effective rate Nominal rate 93.007.000-9 SQM S.A. Chile — ThUS$250,000 01/28/2025 Dollar Semiannual Upon maturity 4.08 % 4.38 % 93.007.000-9 SQM S.A. Chile — ThUS$450,000 05/07/2029 Dollar Semiannual Upon maturity 4.10 % 4.25 % 93.007.000-9 SQM S.A. Chile — ThUS$400,000 01/22/2050 Dollar Semiannual Upon maturity 4.19 % 4.25 % 93.007.000-9 SQM S.A. Chile — ThUS$700,000 09/10/2051 Dollar Semiannual Upon maturity 3.42 % 3.50 % 93.007.000-9 SQM S.A. Chile 564 H 01/05/2030 UF Semiannual Semiannual 4.76 % 4.90 % 93.007.000-9 SQM S.A. Chile 699 O 02/01/2033 UF Semiannual Upon maturity 3.69 % 3.80 % 93.007.000-9 SQM S.A. Chile 563 P 01/15/2028 UF Semiannual Upon maturity 3.24 % 3.25 % 93.007.000-9 SQM S.A. Chile 700 Q 06/01/2038 UF Semiannual Upon maturity 3.43 % 3.45 % Nominal non-current maturities as of December 31, 2022 Carrying amounts of maturities as of December 31, 2022 Series Over 1 Over 2 Over 3 Over 4 Over 5 Total Over 1 Over 2 Over 3 Over 4 Over 5 Subtotal Bond Total ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$250,000 — — 250,000 — — 250,000 — — 250,000 — — 250,000 (469) 249,531 ThUS$450,000 — — — — 450,000 450,000 — — — — 450,000 450,000 (3,666) 446,334 ThUS$400,000 — — — — 400,000 400,000 — — — — 400,000 400,000 (6,112) 393,888 ThUS$700,000 — — — — 700,000 700,000 — — — — 700,000 700,000 (15,341) 684,659 H — — — — 96,967 96,967 — — — — 96,967 96,967 (1,034) 95,933 O — — — — 61,536 61,536 — — — — 61,536 61,536 (741) 60,795 P — — — — 123,072 123,072 — — — — 123,072 123,072 (52) 123,020 Q — — — — 123,073 123,073 — — — — 123,073 123,073 (309) 122,764 Total — — 250,000 — 1,954,648 2,204,648 — — 250,000 — 1,954,648 2,204,648 (27,724) 2,176,924 12.5 Trade and other payables a) Details trade and other payables As of December 31, 2023 As of December 31, 2022 Details trade and other payables Current Non-current Current Current Non-current Total ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Accounts payable 441,780 — 441,780 358,711 — 358,711 Other accounts payable 2,163 — 2,163 1,438 — 1,438 Prepayments from customers 5,690 — 5,690 14,640 — 14,640 Total 449,633 — 449,633 374,789 — 374,789 As of December 31, 2023, and 2022, the balance of current and past due accounts payable is made up as follows: Suppliers current on all payments Amounts according to payment periods as of December 31, 2023 Type of Supplier Up to 30 31 – 60 61 – 90 91 – 120 121 – 365 366 and Total ThUS$ Goods 246,789 2,654 2 — 1,653 — 251,098 Services 142,625 243 4 — 65 — 142,937 Others 50,335 — — — 7 — 50,342 Total 439,749 2,897 6 — 1,725 — 444,377 Amounts according to payment periods as of December 31, 2022 Type of Supplier Up to 30 31 – 60 61 – 90 91 – 120 121 – 365 366 and Total ThUS$ Goods 239,108 786 877 339 — — 241,110 Services 91,499 1,270 73 — 65 — 92,907 Others 34,325 — — — — — 34,325 Total 364,932 2,056 950 339 65 — 368,342 Suppliers past due on payments Amounts according to payment periods as of December 31, 2023 Type of Supplier Up to 30 31 – 60 61 – 90 91 – 120 121 – 365 366 and Total ThUS$ Goods 864 158 77 66 185 — 1,350 Services 1,557 57 24 8 19 — 1,665 Others 10 9 — — 59 — 78 Total 2,431 224 101 74 263 — 3,093 Amounts according to payment periods as of December 31, 2022 Type of Supplier Up to 30 31 – 60 61 – 90 91 – 120 121 – 365 366 and Total ThUS$ Goods 1,294 135 64 24 1,363 — 2,880 Services 1,548 174 20 1 196 — 1,939 Others 136 27 — — 27 — 190 Total 2,978 336 84 25 1,586 — 5,009 Purchase commitments held by the Company are recognized as liabilities when the goods and services are received by the Company. As of December 31, 2023, the Company has purchase orders amounting to ThUS$296,598 and ThUS$191,319 as of December 31, 2022. 12.6 Financial asset and liability categories a) Financial Assets As of December 31, 2023 As of December 31, 2022 Description of financial assets Current Non-current Total Current Non-current Total ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Cash and cash equivalent 1,041,369 — 1,041,369 2,655,236 — 2,655,236 Trade receivables due from related parties at amortized cost 43,253 — 43,253 81,622 — 81,622 Financial assets measured at amortized cost 1,316,797 20 1,316,817 950,167 23 950,190 Trade and other receivables 907,181 2,559 909,740 1,087,420 2,091 1,089,511 Total financial assets measured at amortized cost 3,308,600 2,579 3,311,179 4,774,445 2,114 4,776,559 Financial instruments for hedging purposes 8,527 15,993 24,520 7,014 22,606 29,620 Derivative financial instruments with effect in profit or loss (no hedge) 519 — 519 4,174 — 4,174 Financial assets classified as available for sale at fair value through other comprehensive income — 232,268 232,268 — 9,497 9,497 Total financial assets at fair value 9,046 248,261 257,307 11,188 32,103 43,291 Total financial assets 3,317,646 250,840 3,568,486 4,785,633 34,217 4,819,850 b) Financial Liabilities As of December 31, 2023 As of December 31, 2022 Description of financial liabilities Current Non-current Total Current Non-current Total ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ For hedging purposes through other comprehensive income 30,443 8,419 38,862 42,754 19,772 62,526 Held for trading at fair value through profit or loss 14,795 — 14,795 5,816 — 5,816 Financial liabilities at fair value 45,238 8,419 53,657 48,570 19,772 68,342 Bank loans 1,164,262 295,518 1,459,780 130,840 197,522 328,362 Unsecured obligations 46,999 2,909,485 2,956,484 343,589 2,176,924 2,520,513 Lease Liabilities 18,192 56,966 75,158 12,149 49,585 61,734 Trade and other payables 449,633 — 449,633 374,789 — 374,789 Total financial liabilities at amortized cost 1,679,086 3,261,969 4,941,055 861,367 2,424,031 3,285,398 Total financial liabilities 1,724,324 3,270,388 4,994,712 909,937 2,443,803 3,353,740 12.7 Fair value measurement of finance assets and liabilities The fair value hierarchy is detailed as follows: (a) Level 1: The fair value of financial instruments traded in active markets (such as publicly traded derivatives, and equity securities) is based on quoted market prices at the end of the reporting period. The quoted market price used for financial assets held by the Company is the current bid price. These instruments are included in level 1. (b) Level 2: The fair value of financial instruments that are not traded in an active market (for example, over-the-counter derivatives) is determined using valuation techniques which maximize the use of observable market data and rely as little as possible on entity-specific estimates. If all significant inputs required to fair value an instrument are observable, the instrument is included in level 2. (c) Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3. This is the case for unlisted equity securities. As of December 31, 2023 Measurement Methodology Fair value measurement of assets and liabilities Carrying Amount at Fair value Fair amount Level 1 Level 2 Level 3 ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Financial Assets Cash and cash equivalents 1,041,369 1,041,369 — 1,041,369 — — Other current financial assets - Time deposits 1,316,797 1,316,797 — — 1,316,797 — - Derivative financial instruments — — — — — - Forwards — — 324 — 324 — - Options — — 195 — 195 — - Hedging assets — — 8,527 — 8,527 — - Swaps — — — — — — Non-current accounts receivable 2,559 2,559 — — — — Other non-current financial assets: - Other 20 20 — — 20 — - Equity instruments — — 232,268 232,268 — — - Hedging assets – Swaps — — 15,993 15,993 — — Other current financial liabilities - Bank borrowings 1,164,262 1,164,262 — — 1,164,262 — - Derivative instruments — — — — — — - Forwards — — 14,525 — 14,525 — - Options — — 270 — 270 — - Hedging liabilities – Swaps — — 12,143 — 12,143 — - Swaps hedges, investments — — 18,300 — 18,300 — - Cash flow hedges — — — — — — - Unsecured obligations 46,999 46,999 — — 46,999 — Other non-current financial liabilities - Bank borrowings 295,518 295,518 — — 295,518 — - Unsecured obligati |
Right-of-use assets and Lease l
Right-of-use assets and Lease liabilities | 12 Months Ended |
Dec. 31, 2023 | |
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 Land Buildings Other Transport Machinery, 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 Reconciliation of changes Land Buildings Other Transport Machinery, Total ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Opening Balance 17,353 20,951 — 2,578 11,726 52,608 Additions 1,599 736 — 186 16,675 19,196 Depreciation expenses (12) (3,846) — (965) (4,383) (9,206) Transfer to property, plant and equipment (622) — — — (1,114) (1,736) Other increases (decreases) 2 (2) — 6 (1) 5 Total changes 967 (3,112) — (773) 11,177 8,259 Closing balance 18,320 17,839 — 1,805 22,903 60,867 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 As of December 31, 2023 As of December 31, 2022 Lease liabilities Current Non-Current Current Non-Current ThUS$ ThUS$ ThUS$ ThUS$ Lease liabilities 18,192 56,966 12,149 49,585 Total 18,192 56,966 12,149 49,585 i) Current and non-current lease liabilities (a) As of December 31, 2023 and 2022, current lease liabilities are analyzed as follows: 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$ 93.007.00-9 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 Debtor Creditor Contract indexation unit Effective rate Nominal amounts as of December 31,2022 Nominal amounts as of December 31,2022 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 59 79 18 55 73 79.626.800-K SQM Salar S.A. Chile Contract supplier Peso 2.75% 342 1,027 1,369 311 946 1,257 79.626.800-K SQM Salar S.A. Chile Contract supplier UF 2.42% 1,010 2,929 3,939 917 2,700 3,617 79.947.100-0 SQM Industrial S.A. Chile Contract supplier UF 3.10% 676 2,027 2,703 577 1,755 2,332 96.592.190-7 SQM Nitratos S.A. Chile Contract supplier UF 3.49% 18 55 73 17 52 69 79.768.170-9 Soquimich Comercial S.A. Chile Contract supplier UF 2.94% 342 886 1,228 306 790 1,096 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 2.53% 1 4 5 1 4 5 Foreign SQM Comercial de México S.A. de C.V. Mexico Contract supplier Dollar 3.45% 99 296 395 86 264 350 Foreign SQM Comercial de México S.A. de C.V. Mexico Contract supplier Mexican peso 7.84% 27 62 89 25 60 85 Foreign SQM Europe N.V. Belgium Contract supplier Euro 1.30% 102 306 408 96 290 386 Foreign SQM North América Corp. United States Contract supplier Dollar 2.90% 102 308 410 91 279 370 Foreign SQM Australia PTY Australia Contract supplier Australian dollar 4.42% 807 2,355 3,162 648 1,798 2,446 Foreign SQM Colombia S.A.S. Colombia Contract supplier Colombian peso 1.38% 5 17 22 5 17 22 Foreign SQM África Pty South Africa Contract supplier Rand 8.51% 12 36 48 8 27 35 Total 3,565 10,374 13,939 3,108 9,041 12,149 (b) As of December 31, 2023 and 2022, the non-current lease liabilities are analyzed as follows: 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 — 2255 1,133 1,064 — 2197 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. Chile Contract supplier Dollar 4.99% 524 265 — 789 484 260 — 744 Foreign SQM Comercial de México S.A. de C.V. Chile Contract supplier Mexican Peso 6.79% 91 — — 91 90 — — 90 Foreign SQM Comercial de México S.A. de C.V. Chile Contract supplier Dollar 5.25% 3,197 1,131 — 4,328 3,040 1,105 — 4,145 Foreign SQM Australia Pty Mexico Contract supplier Australian dollar 4.92% 5,624 18,236 — 23,860 5,618 16,916 — 22,534 Foreign SQM África Pty Mexico Contract supplier Rand 9.20% 1,276 591 659 2,526 1,182 483 581 2,246 Foreign SQM Colombia S.A.S. Belgium Contract supplier Colombian peso 2.17% 1 — — 1 1 — — 1 Foreign SQM Europe N.V. United States Contract supplier Euro 1.30% 485 485 2,586 3,556 393 405 2,383 3,181 Foreign SQM Iberian Australia 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 Debtor Creditor Contract indexation unit Effective rate Nominal amounts as of December 31,2022 Amounts at amortized cost as of December 31, 2022 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$ 93.007.000-9 SQM S.A. Chile Contract supplier UF 3.49% 66 — — 66 65 — — 65 79.626.800-K SQM Salar S.A. Chile Contract supplier Peso 3.55% 1,176 1,176 1,078 3,430 1,104 1,133 1,064 3,301 79.626.800-K SQM Salar S.A. Chile Contract supplier UF 2.86% 5,633 1,605 347 7,585 5,363 1,545 346 7,254 79.947.100-0 SQM Industrial S.A. Chile Contract supplier UF 3.10% 4,248 5,595 2,176 12,019 3,696 5,152 2,135 10,983 96.592.190-7 SQM Nitratos S.A. Chile Contract supplier UF 3.49% 61 — — 61 60 — — 60 79.768.170-9 Soquimich Comercial S.A. Chile Contract supplier UF 2.24% 1,774 1,619 261 3,654 1,612 1,545 244 3,401 76.359.919-1 Orcoma Estudios SpA Chile Contract supplier UF 2.53% 4 — — 4 3 — — 3 76.359.919-1 Orcoma Estudios SpA Chile Contract supplier Peso 6.80% 18 26 46 90 8 11 47 66 Foreign SQM North América Corp. United States Contract supplier Dollar 3.11% 606 515 — 1,121 554 498 — 1,052 Foreign SQM Comercial de México S.A. de C.V. Mexico Contract supplier Mexican Peso 3.45% 789 362 — 1,151 738 356 — 1,094 Foreign SQM Australia PTY Australia Contract supplier Australian dollar 4.28% 3,955 5,584 23,894 33,433 3,023 1,619 16,102 20,744 Foreign SQM Colombia S.A.S. Colombia Contract supplier Colombian peso 1.90% 18 — — 18 18 — — 18 Foreign SQM África Pty South Africa Contract supplier Rand 8.51% 12 36 48 96 82 42 — 124 Foreign SQM Europe N.V. Belgium Contract supplier Euro 1.30% 888 564 — 1,452 861 559 — 1,420 Total 19,248 17,082 27,850 64,180 17,187 12,460 19,938 49,585 Other lease disclosures Total lease expenses related to lease payments that did not qualify under the scope of IFRS 16 were ThUS$ 93,049, ThUS$ 78,880 and ThUS$ 71,897 for the periods ended December 31, 2023, 2022 and 2021. See Note 20.8. Expenses related to variable payments not included in lease liabilities were ThUS$4,700, ThUS$3,631 and ThUS$1,313 for the periods ending December 31, 2023, 2022 and 2021. Income from subleases on right-of-use assets were ThUS$5, ThUS$142 and ThUS$146 as of December 31, 2023, 2022 and 2021, respectively. Payments for contractual operating leases are disclosed in Note 4.2 Liquidity Risk. |
Intangible assets and goodwill
Intangible assets and goodwill | 12 Months Ended |
Dec. 31, 2023 | |
Intangible assets and goodwill [abstract] | |
Intangible assets and goodwill | Intangible assets and goodwill 14.1 Reconciliation of changes in intangible assets and goodwill As of December 31, 2023 Intangible assets and goodwill Useful life Net Value ThUS$ IT programs Finite 3,190 Mining rights Finite 134,924 Water rights and rights of way Indefinite 4,909 Water rights Finite 7,580 Intellectual property Finite 5,201 Other intangible assets Finite 70 Intangible assets other than goodwill 155,874 Goodwill Indefinite 958 Total Intangible Asset 156,832 As of December 31, 2022 Intangible assets and goodwill Useful life Net Value ThUS$ IT programs Finite 3,249 Mining rights Finite 140,873 Water rights and rights of way Indefinite 4,909 Water rights Finite 11,369 Intellectual property Finite 5,850 Other intangible assets Finite 86 Intangible assets other than goodwill 166,336 Goodwill Indefinite 967 Total Intangible Asset 167,303 a) Movements in identifiable intangible assets as of December 31, 2023: Movements in identifiable intangible assets IT programs Mining rights, Water rights, Water rights Intellectual Other intangible Goodwill Total ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ At January 1, 2023 3,249 140,873 4,909 11,369 5,850 86 967 167,303 Additions 197 196 — — — 15 — 408 Amortization for the year (1,451) (4,684) — (3,789) (649) (28) — (10,601) Impairment losses recognized in income for the year (1) — — — — — — (9) (9) Other increases / decreases for foreign currency exchange rates 6 — — — — (3) — 3 Other increases (decreases) 1,189 (1,461) — — — — — (272) Subtotal (59) (5,949) — (3,789) (649) (16) (9) (10,471) As of December 31, 2023 3,190 134,924 4,909 7,580 5,201 70 958 156,832 Historical cost 37,849 161,451 7,420 18,000 7,215 2,303 4,492 238,730 Accumulated amortization (34,659) (26,527) (2,511) (10,420) (2,014) (2,233) (3,534) (81,898) At January 1, 2022 3,447 149,532 4,909 15,158 6,481 131 34,596 214,254 Additions 349 1,141 — — — 14 — 1,504 Amortization for the year (1,039) (8,482) — (3,789) (476) (59) — (13,845) Impairment losses recognized in income for the year (2) — (1,228) — — — — (33,629) (34,857) Other increases / decreases for foreign currency exchange rates (4) — — — (155) — — (159) Other increases (decreases) 496 (90) — — — — — 406 Subtotal (198) (8,659) — (3,789) (631) (45) (33,629) (46,951) As of December 31, 2022 3,249 140,873 4,909 11,369 5,850 86 967 167,303 Historical cost 36,457 162,716 7,420 18,000 7,215 2,291 4,501 238,600 Accumulated amortization (33,208) (21,843) (2,511) (6,631) (1,365) (2,205) (3,534) (71,297) (1) See Note 21.5 (2) A definition made in the fourth quarter of 2022 led to the identification of assets that are not in the company’s long-term business plan. Therefore, the Company recognized impairment for the value of certain intangible assets and associated goodwill in an amount of ThUS$34,149, which are related to the Iodine and Derivatives Cash Generating Unit. (b) Movements in identifiable goodwill as of December 31, 2023 and 2022: Accumulated impairment Goodwill at the beginning Additional Impairment losses recognized in Total increase Total ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ SQM Iberian S.A. 148 — — — 148 SQM Investment Corporation 86 — — — 86 Soquimich European Holding B.V. (*) 9 — (9) (9) — SQM Potasio S.A. 724 — — — 724 Ending balance 967 — (9) (9) 958 Accumulated impairment Goodwill at the beginning Additional Impairment losses recognized in income for the year (-) Total increase Total ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ SQM S.A. (*) 22,255 — (22,255) (22,255) — SQM Iberian S.A. 148 — — — 148 SQM Investment Corporation 86 — — — 86 Soquimich European Holding B.V. (*) 11,383 — (11,374) (11,374) 9 SQM Potasio S.A. 724 — — — 724 Ending balance 34,596 — (33,629) (33,629) 967 (*) Based on an impairment analysis conducted by management, this goodwill was adjusted for based on the assessment that its partial or total book value is not recoverable. |
Property, plant and equipment
Property, plant and equipment | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of detailed information about property, plant and equipment [abstract] | |
Property, plant and equipment | Property, plant and equipment As of December 31, 2023, and 2022, the detail of property, plant and equipment is as follows: 15.1 Types of property, plant and equipment Description of types of property, plant and equipment As of As of ThUS$ ThUS$ Property, plant and equipment, net Land 23,481 23,482 Buildings 285,487 273,913 Other property, plant and equipment 62,739 34,960 Transport equipment 9,165 9,487 Supplies and accessories 4,139 4,798 Office equipment 1,158 1,355 Network and communication equipment 1,605 1,872 Mining assets 154,715 60,284 IT equipment 2,092 3,147 Energy generating assets 2,893 3,253 Constructions in progress 1,834,041 1,328,508 Machinery, plant and equipment 1,228,422 981,779 Total 3,609,937 2,726,838 Property, plant and equipment, gross Land 23,481 23,482 Buildings 851,706 803,398 Other property, plant and equipment 291,053 250,058 Transport equipment 22,143 21,343 Supplies and accessories 31,132 29,426 Office equipment 13,346 13,141 Network and communication equipment 11,644 10,878 Mining assets 341,837 230,803 IT equipment 29,384 31,197 Energy generating assets 38,929 38,540 Constructions in progress 1,834,041 1,328,508 Machinery, plant and equipment 4,189,794 3,716,440 Total 7,678,490 6,497,214 Accumulated depreciation and value impairment of property, plant and equipment, total Accumulated depreciation and impairment of buildings (566,219) (529,485) Accumulated depreciation and impairment of other property, plant and equipment (228,314) (215,098) Accumulated depreciation and impairment of transport equipment (12,978) (11,856) Accumulated depreciation and impairment of supplies and accessories (26,993) (24,628) Accumulated depreciation and impairment of office equipment (12,188) (11,786) Accumulated depreciation and impairment of network and communication equipment (10,039) (9,006) Accumulated depreciation and impairment of mining assets (187,122) (170,519) Accumulated depreciation and impairment of IT equipment (27,292) (28,050) Accumulated depreciation and impairment of energy generating assets (36,036) (35,287) Accumulated depreciation and impairment of machinery, plant and equipment (2,961,372) (2,734,661) Total (4,068,553) (3,770,376) Description of classes of property, plant and equipment As of As of ThUS$ ThUS$ Property, plant and equipment, net Pumps 61,385 32,120 Conveyor Belt 16,589 17,135 Crystallizer 56,930 48,582 Plant Equipment 285,653 163,594 Tanks 39,422 25,923 Filter 69,246 47,976 Electrical equipment/facilities 110,255 110,275 Other Property, Plant & Equipment 68,967 112,628 Site Closure 40,696 36,673 Piping 142,013 107,481 Well 156,621 177,708 Pond 34,957 41,729 Spare Parts (1) 145,688 59,955 Total 1,228,422 981,779 ________________________________________________ (1) The reconciliation of the spare parts provisions as of December 31, 2023 and 2022 is as follows: Reconciliation As of As of ThUS$ ThUS$ Opening balance 52,072 48,262 Increase in provision 6,528 3,810 Closing balance 58,600 52,072 15.2 Reconciliation of changes in property, plant and equipment by type: Reconciliation of changes in property, plant and equipment by class as of December 31, 2023 and 2022: Reconciliation of changes in property, plant and equipment by class as of Land Buildings Other property, plant and equipment Transport equipment Supplies and accessories Equipment office Network and communication equipment Mining assets IT equipment Energy generating assets Assets under construction Machinery, plant and equipment Total ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ At January 1, 2023 23,482 273,913 34,960 9,487 4,798 1,355 1,872 60,284 3,147 3,253 1,328,508 981,779 2,726,838 Additions — — 545 — 52 8 208 — 207 — 1,091,840 2,347 1,095,207 Disposals — — — — — — — — (1) — — (17) (18) Depreciation for the year — (37,315) (13,337) (1,155) (1,809) (230) (670) (16,603) (890) (749) (179,989) (252,747) Impairment (2) — — — — — — — — — — — (47,059) (47,059) Increase (decrease) in foreign currency translation difference (6) (7) (35) (1) — (7) — — (3) — — (39) (98) Reclassifications — 48,677 40,657 801 1,099 31 195 111,059 (447) 389 (588,635) 386,174 — Other increases (decreases) (1) 5 219 (51) 33 (1) 1 — (25) 79 — 2,328 85,226 87,814 Decreases for classification as held for sale — — — — — — — — — — — — — Subtotal (1) 11,574 27,779 (322) (659) (197) (267) 94,431 (1,055) (360) 505,533 246,643 883,099 As of December 31, 2023 23,481 285,487 62,739 9,165 4,139 1,158 1,605 154,715 2,092 2,893 1,834,041 1,228,422 3,609,937 Historical cost 23,481 851,706 291,053 22,143 31,132 13,346 11,644 341,837 29,384 38,929 1,834,041 4,189,794 7,678,490 Accumulated depreciation — (566,219) (228,314) (12,978) (26,993) (12,188) (10,039) (187,122) (27,292) (36,036) — (2,961,372) (4,068,553) At January 1, 2022 23,507 270,563 32,846 2,463 5,556 1,386 1,359 38,241 3,570 3,970 731,787 896,977 2,012,225 Additions — 495 425 146 4 7 152 — 270 — 922,690 7,194 931,383 Disposals — — — — — — — — — — — (19) (19) Depreciation for the year — (32,915) (8,691) (962) (1,400) (248) (788) (12,871) (1,256) (717) — (158,865) (218,713) Impairment (2) — (156) — — — — — — — — — (7,928) (8,084) Increase (decrease) in foreign currency translation difference (5) (7) — — — (1) — — — — — (20) (33) Reclassifications 121 37,147 10,449 7,840 726 213 1,149 34,914 582 — (316,994) 223,853 — Other increases (decreases) (1) — (1,127) (69) — (88) (2) — — (19) — (8,975) 20,587 10,307 Decreases for classification as held for sale (141) (87) — — — — — — — — — — (228) Subtotal (25) 3,350 2,114 7,024 (758) (31) 513 22,043 (423) (717) 596,721 84,802 714,613 As of December 31, 2022 23,482 273,913 34,960 9,487 4,798 1,355 1,872 60,284 3,147 3,253 1,328,508 981,779 2,726,838 Historical cost 23,482 803,398 250,058 21,343 29,426 13,141 10,878 230,803 31,197 38,540 1,328,508 3,716,440 6,497,214 Accumulated depreciation — (529,485) (215,098) (11,856) (24,628) (11,786) (9,006) (170,519) (28,050) (35,287) — (2,734,661) (3,770,376) (1) The net balance of “Other Increases (Decreases)” corresponds to all those items that are reclassified to or from “Property, Plant and Equipment”, They can have the following origin: (i) work in progress which is expensed to the statement of income, forming part of operating costs or other expenses per function, as appropriate; (ii) the variation representing the purchase and use of materials and spare parts; (iii) projects corresponding mainly to exploration expenditures and ground studies that are reclassified to the item other non-current financial assets; (iv) software that is reclassified to “Intangibles (v) Provisions related to the investment plan and assets related to closing the site. (2) See note 21.5. This impairment corresponds to identified assets identified that will not be used in the operation due to their specific characteristics relating to the iodine and nitrate segments. 15.3 Detail of property, plant and equipment pledged as guarantee There are no restrictions in title or guarantees for compliance with obligations that affect property, plant and equipment. 15.4 Cost of capitalized interest, property, plant and equipment The rates and costs for capitalized interest of property, plant and equipment are detailed as follows: Costs of capitalized interest As of As of ThUS$ ThUS$ Weighted average capitalization rate of capitalized interest costs 5 % 4 % Amount of interest cost capitalized 43,331 24,708 |
Other current and non-current n
Other current and non-current non-financial assets | 12 Months Ended |
Dec. 31, 2023 | |
Other Current And Non-Current Non-Financial Assets | |
Other current and non-current non-financial assets | Other current and non-current non-financial assets As of December 31, 2023, and 2022, the detail of “Other Current and Non-current Assets” is as follows: Other non-financial assets, current As of As of ThUS$ ThUS$ Domestic Value Added Tax 63,973 81,361 Foreign Value Added Tax 24,889 66,926 Prepaid mining licenses 1,299 1,122 Prepaid insurance 15,022 33,896 Other prepayments 3,204 1,230 Refund of Value Added Tax to exporters 19,929 3,020 Other taxes 6,142 7,512 Other assets 2,292 1,268 Total 136,750 196,335 Other non-financial assets, non-current As of As of ThUS$ ThUS$ Exploration and evaluation expenses 57,458 44,023 Guarantee deposits 950 717 Foreign VAT (1) 308,084 — Other non-current assets 7,208 7,656 Total 373,700 52,396 ________________________________________________ (1) Value-added taxes to be recovered from the commercial office of SQM Shanghai Chemicals Co. Ltd., where that recovery is expected to take longer than 12 months. Movements in assets for the exploration and evaluation of mineral resources as of December 31, 2023, and 2022: Reconciliation As of As of As of ThUS$ ThUS$ ThUS$ Opening balance 44,023 26,752 17,883 Changes Additions 12,002 11,341 8,071 Reclassifications from/to short-term (inventory) 1,049 (465) 83 Amortization of ground studies (2,131) (2,421) (1,360) Reclassification from construction in progress 2,515 8,816 2,075 Total changes 13,435 17,271 8,869 Ending balance (*) 57,458 44,023 26,752 As of December 31, 2023 and 2022, no reevaluations of assets for exploration and assessment of mineral resources have been conducted. (*) This corresponds to the sum of expenditures for economically feasible exploration and exploration under operation (long-term). Mineral resource exploration, evaluation and Exploitation expenditure Given the nature of operations of the Company and the type of exploration it undertakes, disbursements for exploration can be found in 4 stages: Execution, economically feasible, not economically feasible and in exploitation: (a) Not economically feasible : Exploration and evaluation disbursements, once finalized and concluded to be not economically feasible, will be charged to income. As of December 31, 2023, and 2022 there were no disbursements for this concept. (b) Execution: Disbursements for exploration and evaluation under implementation and therefore prior to determination of economic feasibility, are presented as part of property, plant and equipment as constructions in progress. Explorations in execution As of As of ThUS$ ThUS$ Chile 9,062 3,699 Total 9,062 3,699 Conciliation of explorations in execution As of As of ThUS$ ThUS$ Opening balance 3,699 1,000 Disbursements 6,095 4,227 Reclassifications (732) (1,528) Total changes 5,363 2,699 Total 9,062 3,699 (c) Economically feasible : Reimbursements for exploration and evaluation whose study concluded that its economic viability is viable are classified in “Other non-financial assets, non-current.” Prospecting Type of Exploration As of As of ThUS$ ThUS$ Chile (1) Metallic/Non-Metallic 50,844 36,327 Total 50,844 36,327 ________________________________________________ (1) The value presented for Chile is composed as of December 2023 of ThUS 13,803 corresponding to non-metallic exploration and evaluation and ThUS$ 37,041 associated with metallic exploration. In December 2022, the amounts of non-metallic and metallic exploration were ThUS$ 11,417 ThUS$24,910 . Prospecting conciliation As of As of ThUS$ ThUS$ Opening balance 36,327 18,154 Additions 12,002 11,341 Reclassifications from Exploration in execution – Chile 2,515 8,864 Reclassifications to Exploration in Exploitation-Chile — (2,032) Total changes 14,517 18,173 Total 50,844 36,327 (d) In Exploitation : Caliche exploration disbursements that are found in this area are amortized based on the material exploited, the portion that is expected to be exploited in the following 12 months is presented as “Current Assets” in the “Inventories in process” and the remaining portion is classified as “Other Non-current Non-Financial Assets”. Short-Term Exploitation Conciliation As of As of ThUS$ ThUS$ Opening balance 1,700 1,235 Amortization of ground studies — — Reclasifications from/to short term (inventories) (1,049) 465 Total changes (1,049) 465 Total 651 1,700 Long-Term Exploitation Conciliation As of As of ThUS$ ThUS$ Opening balance 7,696 8,598 Amortization of ground studies (2,131) (2,421) Reclasifications from/to short term (inventories) 1,049 1,519 Total changes (1,082) (902) Total 6,614 7,696 |
Employee benefits
Employee benefits | 12 Months Ended |
Dec. 31, 2023 | |
Employee Benefits | |
Employee benefits | Employee benefits 17.1 Provisions for employee benefits Classes of benefits and expenses by employee As of As of ThUS$ ThUS$ Current Profit sharing and bonuses — 2,270 Performance bonus and operational targets 23,946 33,106 Total 23,946 35,376 Non-current Profit sharing and bonuses 18,428 8,973 Severance indemnity payments 43,578 34,899 Total 62,006 43,872 17.2 Policies on defined benefit plan This policy is applied to all benefits received for services provided by the Company’s employees. This is divided as follows: a) Short-term benefits for active employees are represented by salaries, social welfare benefits, paid time off, sickness and other types of leave, profit sharing and incentives and non-monetary benefits; e.g., healthcare service, housing, subsidized or free goods or services. These will be paid in a term which does not exceed twelve months. The Company maintains incentive programs for its employees, which are calculated based on the net result at the close of each period by applying a factor obtained from an evaluation based on their personal performance, the Company’s performance and other short-term and long-term indicators. b) Staff severance indemnities are agreed and payable based on the final salary, calculated in accordance with each year of service to the Company, with certain maximum limits in respect of either the number of years or in monetary terms. In general, this benefit is payable when the employee or worker ceases to provide his/her services to the Company and there are a number of different circumstances through which a person can be eligible for it, as indicated in the respective agreements; e.g. retirement, dismissal, voluntary retirement, incapacity or disability, death, etc. See Note 17.3. c) Obligations after employee retirement, described in Note 17.4. d) Retention bonuses for a group of Company executives, described in Note 17.6. 17.3 Other long-term benefits The actuarial assessment method has been used to calculate the Company’s obligations with respect to staff severance indemnities, which relate to defined benefit plans consisting of days of remuneration per year served at the time of retirement under conditions agreed in the respective agreements established between the Company and its employees. Under this benefit plan, the Company retains the obligation to pay staff severance indemnities related to retirement, without establishing a separate fund with specific assets, which is referred to as not funded . Benefit payment conditions The staff severance indemnity benefit relates to remuneration days for years worked for the Company without a limit being imposed in regard of amount of salary or years of service. It applies when employees cease to work for the Company because they are made redundant or in the event of their death. This benefit is applicable up to a maximum age of 65 for men and 60 for women, which are the usual retirement ages according to the Chilean pensions system as established in Decree Law 3,500 of 1980. Methodology The determination of the defined benefit obligation is made under the requirements of IAS 19 “Employee benefits”. 17.4 Post-employment benefit obligations Our subsidiary SQM NA, together with its employees established a pension plan until 2002 called the “SQM North America Retirement Income Plan”. This obligation is calculated measuring the expected future forecast staff severance indemnity obligation using a net salary gradual rate of restatements for inflation, mortality and turnover assumptions, discounting the resulting amounts at present value using the interest rate defined by the authorities. For workers under contract, since 2003, SQM NA offers benefits related to pension plans based on the 401-K system to its employees, which does not generate obligations for the Company. A settlement was reflected in the last quarter of 2023 for the purchase of annuities by the pension plan for all inactive participants. Reconciliation Changes in the benefit obligation As of As of As of ThUS$ ThUS$ ThUS$ Benefit obligation at the beginning of the year 279 9,550 9,864 Current cost of service — — — Interest cost 12 255 240 Actuarial loss 180 (1,357) (135) Settlement — (7,739) — Benefits paid (185) (430) (419) Total 286 279 9,550 Reconciliation As of As of As of ThUS$ ThUS$ ThUS$ Fair value of plan assets at the start of the year 4,982 13,497 12,888 Real return (loss) in the plan assets 584 (346) 1,028 Benefits paid (185) (430) (419) Settlement — (7,739) — Fair value of plan assets at the end of the year 5,381 4,982 13,497 Non-current-assets 5,095 4,703 3,947 Elements not yet recognized as components of the cost of periodic net pensions: Net actuarial income at the beginning of the year 59 1,039 192 Settlement — (1,627) — Gain 190 647 847 Adjustment to recognize the minimum pension obligation 249 59 1,039 Cost of service or benefits received during the year As of As of As of ThUS$ ThUS$ ThUS$ Financial cost 12 255 240 Real loss in plan assets (214) (363) (316) Settlement — (1,627) — Net periodic pension expenses (202) (1,735) (76) 17.5 Staff severance indemnities As of December 31, 2023, and 2022, severance indemnities calculated at the actuarial value are as follows: Staff severance indemnities As of As of As of ThUS$ ThUS$ ThUS$ Opening balance (34,899) (27,099) (32,199) Current cost of service (4,624) (4,204) (4,978) Interest cost (2,236) (1,928) (1,303) Actuarial gain loss (5,947) (5,305) 3,999 Exchange rate difference 769 551 4,971 Benefits paid during the year 3,359 3,086 2,411 Total (43,578) (34,899) (27,099) (a) Actuarial assumptions The liability recorded for staff severance indemnity is valued at the actuarial value method, using the following actuarial assumptions: Actuarial assumptions As of As of As of Annual/Years Mortality rate RV - 2020/CB - 2020 RV - 2014 RV - 2014 Discount interest rate 5.32% 5.12% 5.67% Inflation rate 3.00% 3.41% 3.20% Voluntary retirement rate: Men 3.82 % 6.49 % 6.49 % Annual Women 3.82 % 6.49 % 6.49 % Annual Salary increase 4.01 % 3.00 % 3.00 % Annual Retirement age: Men 65 65 65 Years Women 60 60 60 Years (b) Sensitivity analysis of assumptions As of December 31, 2023, 2022 and 2021, the Company has conducted a sensitivity analysis of the main assumptions of the actuarial calculation, determining the following: Sensitivity analysis as of December 31, 2023 Effect + 100 basis Effect - 100 basis ThUS$ ThUS$ Discount rate (2,575) 2,898 Employee turnover rate (338) 378 Sensitivity analysis as of December 31, 2022 Effect + 100 basis Effect - 100 basis ThUS$ ThUS$ Discount rate (2,090) 2,352 Employee turnover rate (274) 307 Sensitivity analysis as of December 31, 2021 Effect + 100 basis Effect - 100 basis ThUS$ ThUS$ Discount rate (1,614) 1,817 Employee turnover rate (212) 237 Sensitivity relates to an increase/decrease of 100 basis points. 17.6 Executive compensation plan The Company currently has a compensation plan with the purpose of motivating the Company’s executives and encouraging them to remain with the Company. There are two compensation plans in effect as of December 31, 2023: I) Share-based compensation plan (a) Plan characteristics This compensation plan is paid in cash. (b) Plan participants and payment dates A total of 41 Company executives are entitled to this benefit, provided they remain with the Company until year end of 2025. The payment dates, where relevant, will be during the first quarter of 2026. This compensation plan was approved by the Board and was first applied on January 1, 2022. The liability related to this compensation plan amounts to ThUS$18,428 and ThUS$ 8,495 as of December 31, 2023 and 2022, respectively. The income statement was charged with ThUS$9,933 and ThUS$8,495 during the periods ended December 31, 2023 and 2022, respectively. II) Share-based compensation plan The share-based compensation plan was approved by the Board and included 188,740 shares. The effects on the statement of income correspond to an expense of ThUS$ 2,251 and ThUS$ 5,978 for the years ended 2022 and 2021. |
Provisions and other non-financ
Provisions and other non-financial liabilities | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of other provisions [abstract] | |
Provisions and other non-financial liabilities | Provisions and other non-financial liabilities 18.1 Types of provisions As of December 31, 2023 As of December 31, 2022 Types of provisions Current Non-current Total Current Non-current Total ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Provision for legal complaints (1) 106 1,195 1,301 52,106 1,603 53,709 Provision for dismantling, restoration and rehabilitation cost (2) — 58,459 58,459 — 53,995 53,995 Other provisions (3) 392,216 796 393,012 1,251,040 2,455 1,253,495 Total 392,322 60,450 452,772 1,303,146 58,053 1,361,199 ________________________________________________ (1) These provisions correspond to legal processes that are pending resolution or that have not yet been disbursed, these provisions are mainly related to litigation involving the subsidiaries located in Chile, Brazil and the United States (see note 20.1). (2) Sernageomin commitments for the restoration of the location of the production sites have been incorporated. This cost value is calculated at discounted present value, using flows associated with plans with an evaluation horizon that fluctuates between 8 and 25 years for potassium-lithium operations and 11 to 22 years for nitrate-iodine operations. The rates used to discount future cash flows are based on market rates for the aforementioned terms. (3) See Note 18.2. 18.2 Description of other provisions Current provisions, other short-term provisions As of As of ThUS$ ThUS$ Rent under Lease contract (1) 354,205 1,189,326 Provision for additional tax related to foreign loans 1,641 1,085 End of agreement bonus 6,979 35,819 Other bonuses to workers 6,933 — Directors’ per diem allowance 4,676 4,250 Miscellaneous provisions 17,782 20,560 Total 392,216 1,251,040 ________________________________________________ (1) Payment Obligations for the lease contract with CORFO: These correspond to obligations assumed in the Lease Agreement. Our subsidiary SQM Salar holds exclusive rights to exploit the mineral resources in an area covering approximately 140,000 hectares of land in the Salar de Atacama in northern Chile, of which SQM Salar is only entitled to exploit the mineral resources in 81,920 hectares. These rights are owned by Corfo and leased to SQM Salar pursuant to the Lease Agreement. Corfo cannot unilaterally amend the Lease Agreement and the Project Agreement, and the rights to exploit the resources cannot be transferred. The Lease Agreement establishes that SQM Salar is responsible for making quarterly lease payments to Corfo according to specified percentages of the value of production of minerals extracted from the Salar de Atacama brines, maintaining Corfo’s rights over the Mining Exploitation Concessions and making annual payments to the Chilean government for such concession rights. The Lease Agreement was entered into in 1993 and expires on December 31, 2030. On January 17, 2018, SQM and CORFO reached an agreement to end an arbitration process directed by the arbitrator, Mr. Héctor Humeres Noguer, in case 1954-2014 of the Arbitration and Mediation Center of Santiago Chamber of Commerce and other cases related to it. The agreement signed in January 2018, includes important amendments to the lease agreement and project agreement signed between CORFO and SQM in 1993. The main modifications became effective on April 10, 2018 and require (i) higher lease payments as a result of increased lease rates associated with the sale of the different products produced in the Salar de Atacama, including lithium carbonate, lithium hydroxide and potassium chloride; (ii) SQM Salar commits to contribute between US$10.8 and US$18.9 million per year to research and development efforts, between US$10 and US$15 million per year to the communities near the Salar de Atacama basin, and to annually contribute 1.7% of SQM Salar’s total annual sales to regional development; (iii) Corfo authorization for CCHEN to establish a total production and sales limit for lithium products produced in the Salar de Atacama of up to 349,553 metric tons of lithium metal equivalent (1,860,671 tons of lithium carbonate equivalent), which is in addition to the approximately 64,816 metric tons of lithium metal equivalent (345,015 tons of lithium carbonate equivalent) remaining from the originally authorized amount; (iv) provisions relating to the return of real estate and movable property leased to Corfo, the transfer of environmental permits to Corfo at no cost and the granting of purchase options to Corfo for production facilities and water rights in the Salar de Atacama upon termination of Corfo agreements; and (v) prohibitions on the sale of lithium brine extracted from leased mining concessions. The fee structure is as follows: Price US$/MT Li2CO3 Lease payment rate $0 - $4,000 6.8 % Over $4,000 - $5,000 8.0 % Over $5,000 - $6,000 10.0 % Over $6,000 - $7,000 17.0 % Over $7,000 - $10,000 25.0 % Over $10,000 40.0 % Price US$/MT LiOH Lease payment rate $0 - $5,000 6.8 % Over $5,000 - $6,000 8.0 % Over $6,000 - $7,000 10.0 % Over $7,000- $10,000 17.0 % Over $10,000 - $12,000 25.0 % Over $12,000 40.0 % Price US$/MT KCl Lease payment rate $0 - $300 3.0 % Over $300 - $400 7.0 % Over $400 - $500 10.0 % Over $500 - $600 15.0 % Over $600 20.0 % The Lease Agreement and the Project Agreement are subject to early termination in the case of certain default events. Under these, Corfo is obliged to use its best efforts to initiate a public bidding process or the corresponding contracting procedure for the execution of an act or contract for the exploitation of the OMA mining properties currently leased by SQM no later than June 30, 2027, and to resolve it no later than July 30, 2029. 18.3 Changes in provisions Description of items that gave rise to variations Legal complaints Provision for Other provisions Total ThUS$ ThUS$ ThUS$ ThUS$ Total provisions, initial balance 53,709 53,995 1,253,495 1,361,199 Changes Additional provisions 266 12,127 1,922,666 1,935,059 Provision used (52,707) — (2,771,422) (2,824,129) Increase (decrease) in foreign currency exchange 33 — (871) (838) Others — (7,663) (10,856) (18,519) Total Increase (decreases) (52,408) 4,464 (860,483) (908,427) Total 1,301 58,459 393,012 452,772 Description of items that gave rise to variations Legal complaints Provision for Other provisions Total ThUS$ ThUS$ ThUS$ ThUS$ Total provisions, initial balance 49,741 58,592 270,371 378,704 Changes Additional provisions 3,981 7,085 3,045,758 3,056,824 Provision used — — (2,060,321) (2,060,321) Increase (decrease) in foreign currency exchange (1) (35) 4 (32) Others (12) (11,647) (2,317) (13,976) Total Increase (decreases) 3,968 (4,597) 983,124 982,495 Total 53,709 53,995 1,253,495 1,361,199 Description of items that gave rise to variations Legal complaints Provision for Other provisions Total ThUS$ ThUS$ ThUS$ ThUS$ Total provisions, initial balance 10,165 61,265 95,353 166,783 Changes Additional provisions 48,012 7,302 232,254 287,568 Provision used (8,399) — (56,959) (65,358) Increase (decrease) in foreign currency exchange (37) — (35) (72) Others — (9,975) (242) (10,217) Total Increase (decreases) 39,576 (2,673) 175,018 211,921 Total 49,741 58,592 270,371 378,704 18.4 Other non-financial liabilities, Current Description of other liabilities As of As of ThUS$ ThUS$ Tax withholdings 8,750 46,518 VAT payable 33,782 43,439 Guarantees received 1,021 743 Accrual for dividend 67,219 7,370 Monthly tax provisional payments 26,160 289,326 Deferred income 4,144 19,341 Withholdings from employees and salaries payable 9,333 7,242 Accrued vacations 35,902 29,642 Other current liabilities 994 2,856 Total 187,305 446,477 |
Disclosures on equity
Disclosures on equity | 12 Months Ended |
Dec. 31, 2023 | |
Miscellaneous equity [abstract] | |
Disclosures on equity | Disclosures on equity The detail and movements in the funds of equity accounts are shown in the consolidated statement of changes in equity. 19.1 Capital management The main object of capital management relative to the administration of the Company’s financial debt and equity is to ensure the regular conduct of operations and business continuity in the long term, with the constant intention of maintaining an adequate level of liquidity and in compliance with the financial safeguards established in the debt contracts in force. Within this framework, decisions are made in order to maximize the value of the company. Capital management must comply with, among others, the limits contemplated in the Financing Policy approved by the Shareholders’ Meeting, which establish a maximum consolidated indebtedness level of 1 times the debt to equity ratio. This limit can be exceeded only if the Company’s management has first obtained express approval at an Extraordinary Shareholders’ Meeting. The Company’s management controls capital management based on the following ratios: Capital Management As of December 31, As of December 31, Description (1) Calculation (1) Net Financial Debt/cash (ThUS$) 2,086,717 (721,980) Financial Debt – Financial Resources Other current Financial Liabilities + Other Non-Current Financial Liabilities– Cash and Cash Equivalents – Other Current Financial Assets – Hedging Assets, non-current Liquidity 2.33 2.29 Current Assets divided by Current Liabilities Total Current Assets / Total Current Liabilities ROE 20.78 % 79.37 % Net income the year divided by Total Equity Net income the year / Equity Adjusted EBITDA (ThUS$) 3,180,071 5,838,439 Adjusted EBITDA EBITDA – Other income – Other gains (losses) - Share of Profit of associates and joint ventures accounted for using the equity method + Other expenses by function + Net impairment gains on reversal (losses) of financial assets – Finance income – Currency differences. EBITDA (ThUS$) 3,226,202 5,817,605 EBITDA Net income + Depreciation and Amortization Expense adjustments + Finance Costs + Income Tax ROA 35.90 % 78.61 % Adjusted EBITDA – Depreciation divided by Total Assets net of financial resources less related parties’ investments (Gross Profit – Administrative Expenses)/ (Total Assets – Cash and Cash Equivalents – Other Current Financial Assets – Other Non-Current Financial Assets – Equity accounted Investments) (LTM) Indebtedness 0.47 (0.15) Net Financial Debt on Equity Net Financial Debt / Total Equity The Company’s capital requirements change according to variables such as: working capital needs, new investment financing and dividends, among others. The SQM Group manages its capital structure and makes adjustments bases on the predominant economic conditions so as to mitigate the risks associated with adverse market conditions and take advantage of the opportunities there may be to improve the liquidity position of the SQM Group. There have been no changes in the capital management objectives or policy within the years reported in this document, no breaches of external requirements of capital imposed have been recorded. There are no contractual capital investment commitments. 19.2 Operational restrictions and financial limits Bond issuance contracts in the local market require the Company to maintain a Total Borrowing Ratio no higher than 1 for Series H, Series O and Series Q bonds, calculated over the last consecutive 12 months. Capital management must ensure that the Borrowing Ratio remains below 1.0, with respect to the Series H, Series O and Series Q bonds. As of December 31, 2023 this ratio was 0.47. The financial restrictions with respect to the bonds issued by the Company for the periods ended December 31, 2023 and 2022 are as follows. Financial restrictions As of December 31, 2023 Financial Financial Financial Financial Instrument with restriction Bonds Bonds Bonds Bank loans Reporting party or subsidiary restriction Creditor Bondholders Bondholders Bondholders Scotiabank Registration number H Q O PB 70M Name of financial indicator or ratio (See definition in Note 19.1) NFD/Equity NFD/Equity NFD/Equity NFD/Equity Measurement frequency Quarterly Quarterly Quarterly Quarterly Restriction (Range, value and unit of measure) Must be less than Must be less than Must be less than Must be less than 1.00 1.00 1.00 1.00 Indicator or ratio determined by the company 0.47 0.47 0.47 0.47 Fulfilled YES/NO yes yes yes yes Financial restrictions As of December 31, 2022 Financial Financial Financial Financial Instrument with restriction Bonds Bonds Bonds Bank loans Reporting party or subsidiary restriction Creditor Bondholders Bondholders Bondholders Scotiabank Registration number H Q O PB 70M Name of financial indicator or ratio (See definition in Note 19.1) NFD/Equity NFD/Equity NFD/Equity NFD/Equity Measurement frequency Quarterly Quarterly Quarterly Quarterly Restriction (Range, value and unit of measure) Must be less than Must be less than Must be less than Must be less than 1.00 1.00 1.00 1.00 Indicator or ratio determined by the company (0.15) (0.15) (0.15) (0.15) Fulfilled YES/NO yes yes yes yes Bond issuance contracts in foreign markets require that the Company does not merge, or dispose of, or encumber all or a significant portion of its assets, unless all of the following conditions are met: (i) the legal successor is an entity constituted under the laws of Chile or the United States, which assumes all the obligations of the Company in a supplemental indenture, (ii) immediately after the merger or disposal or encumbrance there is no default by the issuer, and (iii) the issuer has provided a legal opinion indicating that the merger or disposal or encumbrance and the supplemental indenture comply with the requirements of the original indenture.The Company is also committed to provide quarterly financial information. The Company and its subsidiaries are complying with all the aforementioned limitations, restrictions and obligations. 19.3 Disclosures on share capital Issued share capital is divided into Series A shares and Series B shares. All such shares are nominative, have no par value and are fully issued, subscribed and paid. Series B shares may not exceed 50% of the total issued, subscribed and paid-in shares of the Company and have a limited voting right, in that all of them can only elect one director of the Company, regardless of their equity interest and preferences: (a) require the calling of an Ordinary or Extraordinary Shareholders’ Meeting when so requested by Series B shareholders representing at least 5% of the issued shares thereof; and (b) require the calling of an extraordinary meeting of the board of directors, without the president being able to qualify the need for such a request, when so requested by the director who has been elected by the shareholders of said Series B. The limitation and preferences of Series B shares have a duration of 50 consecutive and continuous years as of June 3, 1993. The Series A shares have the preference of being able to exclude the director elected by the Series B shareholders in the voting process in which the president of the board of directors and of the Company must be elected and which follows the one in which the tie that allows such exclusion resulted. The preference of the Series A shares will have a term of 50 consecutive and continuous years as of June 3, 1993. The form of the titles of the shares, their issuance, exchange, disablement, loss, replacement, assignment and other circumstances thereof shall be governed by the provisions of Law No, 18,046 and its regulations. At December 31, 2023, the Group hold 648 Series A shares. Detail of capital classes in shares: As of December 31, 2023 As of December 31, 2022 As of December 31, 2021 Type of capital in preferred shares Series A Series B Series A Series B Series A Series B Description of type of capital in shares Number of authorized shares 142,819,552 142,818,904 142,819,552 142,818,904 142,819,552 142,818,904 Number of fully subscribed and paid shares 142,819,552 142,818,904 142,819,552 142,818,904 142,819,552 142,818,904 Number of subscribed, partially paid shares — — — — — — Increase (decrease) in the number of current shares — — — — — — Number of outstanding shares 142,818,904 142,818,904 142,818,904 142,818,904 142,818,904 142,818,904 Number of shares owned by the Company or its subsidiaries or associates 648 — 648 — 648 — Number of shares whose issuance is reserved due to the existence of options or agreements to dispose shares — — — — — — Capital amount in shares ThUS$ 134,750 1,442,893 134,750 1,442,893 134,750 1,442,893 Total number of subscribed shares 142,819,552 142,818,904 142,819,552 142,818,904 142,819,552 142,818,904 19.4 Disclosures on reserves in Equity and non-controlling interests As of December 31, 2023, 2022 and 2021, this caption comprises the following: Disclosure of reserves within shareholders' equity As of As of As of ThUS$ ThUS$ ThUS$ Reserve for currency exchange conversion (1) (4,921) (8,042) (7,913) Reserve for cash flow hedges (2) (930) (14,575) (34,025) Reserve for gains and losses from financial assets measured at fair value through other comprehensive income (3) 122,294 (10,973) (11,146) Reserve for actuarial gains or losses in defined benefit plans (4) (13,454) (9,198) (4,174) Other reserves 11,881 11,663 13,103 Total 114,870 (31,125) (44,155) ________________________________________________ (1) This balance reflects retained earnings for changes in the exchange rate when converting the financial statements of subsidiaries whose functional currency is different from the US dollar. (2) The Company maintains, as hedge instruments, financial derivatives related to obligations with the public issued in UF and Chilean pesos, Changes from the fair value of derivatives designated and classified as hedges are recognized under this classification. (3) This caption includes the fair value of equity investments that are not held for trading and that the group has irrevocably opted to recognize in this category upon initial recognition. In the event that such equity instruments are fully or partially disposed of, the proportional accumulated effect of accumulated fair value will be transferred to retained earnings. (4) This caption reflects the effects of changes in actuarial assumptions, mainly changes in the discount rate. Movements in other reserves and changes in interest were as follows: Foreign Reserve for cash flow Reserve for actuarial gains Reserve for gains (losses) Other Total reserves Movements Before Before Deferred Before Deferred Before Deferred Before Reserves Deferred Total ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Opening balance as of January 1, 2021 (11,569) 6,173 (1,682) (10,527) 1,847 10,176 (3,304) 16,318 10,571 (3,139) 7,432 Movement of reserves 4,046 (66,051) — 4,648 — (12,072) — 134 (69,295) — (69,295) Reclassification adjustments (390) 13,289 — — — — — (3,349) 9,550 — 9,550 Related taxes — — 14,246 — (142) — 3,818 — — 17,922 17,922 Reclassification to retained earnings — — — — — (13,375) 3,611 — (13,375) 3,611 (9,764) Closing balance as of December 31, 2021 (7,913) (46,589) 12,564 (5,879) 1,705 (15,271) 4,125 13,103 (62,549) 18,394 (44,155) Movement of reserves (129) 36,079 — (6,276) — 190 — (985) 28,879 — 28,879 Reclassification adjustments — (9,457) — — — — — (455) (9,912) — (9,912) Related taxes — — (7,172) — 1,252 — (17) — — (5,937) (5,937) Closing balance as of December 31, 2022 (8,042) (19,967) 5,392 (12,155) 2,957 (15,081) 4,108 11,663 (43,582) 12,457 (31,125) Movement of reserves 3,121 126 — (5,836) — 190,509 — 218 188,138 — 188,138 Reclassification adjustments — 18,566 — — — — — — 18,566 — 18,566 Related taxes — — (5,047) — 1,580 — (57,242) — — (60,709) (60,709) Closing balance as of December 31, 2023 (4,921) (1,275) 345 (17,991) 4,537 175,428 (53,134) 11,881 163,122 (48,252) 114,870 ________________________________________________ (1) See details on reserves for foreign currency translation differences on conversion in Note 23, letter b). Other reserves This caption corresponds to the legal reserves reported in the stand-alone financial statements of the subsidiaries and associates that are mentioned below and that have been recognized in SQM’s equity through the application of the equity method. Subsidiary – Associate As of As of As of ThUS$ ThUS$ ThUS$ SQM Iberian S.A. 9,464 9,464 9,464 SQM Europe NV 1,957 1,957 1,957 Soquimich European holding B.V. 828 828 828 Abu Dhabi Fertilizer Industries WWL — — 455 Soquimich Comercial S.A. (393) (401) — SQM Vitas Fzco. 85 85 (38) Pavoni & C. Spa 7 7 7 SAS Adionics 116 — — SQM Australia Pty Ltd 94 — — SQM Iberian S.A. (1,677) (1,677) (1,677) Orcoma Estudios SPA 2,121 2,121 2,121 SQM Industrial S.A. — — 707 Others (721) (721) (721) Total Other reserves 11,881 11,663 13,103 Non-controlling interests % of interests in the Net income attributable to non-controlling interests for the year ended Equity, non-controlling interests for the year ended Dividends paid to non-controlling interests for the year ended Subsidiary As of As of As of As of As of As of ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ SQM Potasio S.A. 0.0000001% — — — — — — Ajay SQM Chile S.A. 49.00000% 3,238 2,415 9,795 8,986 2,428 1,811 Soquimich Comercial S.A. 39.36168% 3,838 5,558 26,435 26,383 3,837 5,558 Comercial Agrorama Ltda. (1) 30.00000% — — — — — — SQM Indonesia S.A. 20.00000% — — — — — — SQM Thailand Limited 0.00200% — — — — — — Total 7,076 7,973 36,230 35,369 6,265 7,369 (1) As of December 31, 2022, a 30% non-controlling interest was acquired by Comercial Hydro S.A., a Company subsidiary. 19.5 Dividend policies As required by Article 79 of the Chilean Companies Act, unless otherwise decided by unanimous vote of the holders of issued and subscribed shares, a publicly traded corporation must annually distribute a cash dividend to its shareholders, prorated based on their shares or the proportion established in the company’s bylaws if there are preferred shares, with at least 30% of our consolidated net income for each year. Dividend policy for commercial year 2023 Company’s dividend policy for the 2023 business year was agreed upon by the Board of Directors on April 26, 2023. On that occasion, the following was decided: (a) Distribute and pay to the corresponding shareholders, a percentage of the net income that shall be determined per the following financial parameters as a final dividend: (i) 100% of the net income for 2023 if all the following financial parameters are met: (a) “all current assets” divided by “all current liabilities” is equal to or greater than 2.5 times, and (b) the sum of “all current liabilities” and “all non-current liabilities”, less “cash equivalents”, less “other current financial assets”, all of the above divided by “total equity” in equal or less than 0.8 times. (ii) 80% of the net income for 2023 if all the following financial parameters are met: (a) “all current assets” divided by “all current liabilities” is equal to or greater than 2.0 times, and (b) the sum of “all current liabilities” and “all non-current liabilities”, less “cash equivalents”, less “other current financial assets”, all of the above divided by “total equity” in equal or less than 0.9 times. (iii) 60% of the net income for 2023 if all the following financial parameters are met: (a) “all current assets” divided by “all current liabilities” is equal to or greater than 1.5 times, and (b) the sum of “all current liabilities” and “all non-current liabilities”, less “cash equivalents”, less “other current financial assets”, all of the above divided by “total equity” in equal or less than 1.0 times. If none of the foregoing financial parameters are met, the Company shall distribute and pay, as a final dividend, and in favor of the respective shareholders, 50% of the 2023 net income. (b) Distribute and pay in 2023 interim dividends, which will be charged to the aforementioned final dividend. (c) The amount of the provisional dividends may be higher or lower, provided that, based on the information available to the Board of Directors on the date when their distribution is agreed to, this will not have a negative or material effect on the Company's ability to carry out its investments, meet its obligations, and in general to comply with the investment and financing policy approved by the Ordinary Shareholders’ Meeting. (d) At the ordinary meeting to be held in 2024, the Company's Board of Directors will propose a final dividend in line with the percentage corresponding to the financial parameters outlined in (a) above, discounting the provisional dividends previously distributed in 2023. (e) Any remaining amount from the net income from 2023 can be retained and used to finance the Company’s own operations or one or more of its investment projects, notwithstanding a possible distribution of dividends charged to accumulated earnings that might be approved by the shareholders’ meeting or the possible future capitalization of all or part of it. (f) The payment of additional dividends is not being considered. It must be expressly stated that this dividends policy details the intention of the Company’s Board of Directors and its fulfillment depends on the actual net income obtained, as well as on the results indicated by the projections the Company makes from time to time or on the existence of particular conditions, as appropriate. In any case, if the dividend policy set forth by the Board of Directors should undergo any substantial change, the Company must communicate it as a material event. 19.6 Interim and provisional dividends On April 26, 2023, the Board of Directors agreed to pay a final dividend equivalent to US$ 3.22373 per share which the Company must pay to reach the amount of US$10.94060 for the final dividend as per the Policy. This final dividend already considers the first interim dividend of US$ 2.78716 per share, the second interim dividend of US$ 1.84914 per share, and the eventual dividend of US$ 3.08056 per share that were paid in 2022. On May 17, 2023, the Board of Directors agreed to pay an interim dividend equivalent to US$ 0.78760 per share against the company’s 2023 net income. This amount will be paid in its Chilean peso equivalent at the Observed US Dollar value that appears in the Official Gazette on July 17, 2023. On August 16, 2023, the Board agreed to pay an interim divided equal to US$0.60940 per share from the Company’s net income from 2023. That amount will be paid in its Chilean peso equivalent at the Observed US Dollar exchange rate published in the Official Gazette on November 6, 2023. On November 15, 2023, the Board approved an interim dividend of US$ 0.50347 per share, to be paid from the Company's 2023 fiscal year net income. This dividend will be paid in Chilean pesos at the official US dollar exchange rate published in the Official Gazette on December 11, 2023. 19.7 Potential and provisional dividends Dividends discounted from equity from January to December 2023 and 2022 were the following: Dividends As of As of As of ThUS$ ThUS$ ThUS$ Interim dividend 542,847 2,204,229 157,774 Final dividend 920,819 — 399,998 Dividend according to policy 60,953 — 27,681 Owners of the Parent 1,524,619 2,204,229 585,453 Dividend eventual — — 5,904 Dividends according to policy 6,266 7,369 6,504 Non-controlling interests 6,266 7,369 12,408 Dividends discounted from equity for the period 1,530,885 2,211,598 597,861 |
Contingencies and restrictions
Contingencies and restrictions | 12 Months Ended |
Dec. 31, 2023 | |
Contingencies And Restrictions | |
Contingencies and restrictions | Contingencies and restrictions In accordance with note 18.1, the Company recognizes a provision for those lawsuits in which there is a probability that the judgments will be unfavorable to the Company. The Company is party to the following lawsuits and other relevant legal actions: 20.1 Lawsuits and other relevant events (a) In 1995, Nitratos Naturais do Chile Ltda. was sanctioned by the Fazenda do Estado de Sao Paulo for shipping goods to a different branch without proper authorization. The Sao Paulo State Treasury initiated legal proceedings to collect almost ThUS$ 352. There has been no movement with respect to this case since May 2017. (b) In August 1996, Nitratos Naturais do Chile Ltda. was fined by Fazenda do Estado de Sao Paulo for concluding activities without attaching the necessary documentation for submission to the competent authorities. The treasury of the State of Sao Paulo initiated legal actions to collect close to ThUS$ 492. Nitratos Naturais do Chile has presented a case to the federal court of Brazil to request a reduction in the fine, which is currently pending. (c) In August 2004, Nitratos Naturais do Chile Ltda. was fined by Fazenda do Estado de Sao Paulo for failing to report trade activities. The treasury of the State of Sao Paulo initiated legal actions to collect close to ThUS$ 265. In 2018, the Court of Appeals agreed to a reduction in the fine and the Fazenda do Estado de Sao Paulo appealed to the Court of Brazil, and this appeal is still pending. (d) In October 2010, the City of Pomona, California, named SQM North America Corporation (“SQMNA”) and SQM as defendants in an action filed in the California Superior Court for Los Angeles County (the “Pomona Case”). In this matter, the plaintiff seeks damages for alleged groundwater contamination from the use of defendants’ fertilizer products. The plaintiff subsequently withdrew its lawsuit against SQM. The case was removed to the U.S. District Court for the Central District of California and on June 10, 2015, the jury rejected the lawsuit against SQMNA, and the plaintiff filed an appeal which was granted by the Ninth Circuit Court of Appeals. The matter was then remanded to the District Court for a complete retrial. On May 17, 2018, after a new trial in the District Court, a jury ruled in favor of SQMNA. On September 8, 2021, a jury found in favor of Pomona and against SQMNA on a single cause of action for strict products liability under California law. The jury found that Pomona’s damages were US$48,128,378. On January 27, 2022, the District Court entered judgment for Pomona in the amount of US$48,128,378. On August 1, 2023, the District Court granted a remittitur order reducing the award to the amount of US$30,280,802. SQMNA paid the reduced amount and the case is terminated. (e) In December 2010, the city of Lindsay in California, United States, filed a claim against SQM NA, which was heard before the US District Court for the Central District of California. The plaintiff requested the payment of expenses and other values related to treatment of groundwater to make it apt for consumption, which involved the extraction of perchlorate in this water, which allegedly came from Chilean fertilizers. On February 5, 2024 , the Court ordered the resumption of proceedings, as they had been suspended. (f) In May 2014, a claim of compensation for damages was filed against SQM Nitratos for its alleged extracontractual liability derived from an explosion occurring in 2010 in the vicinity of the town of Baquedano, which caused the death of six workers. The portion of the claim that has not been settled in court is approximately US$ 1.2 million. On May 7, 2019, the 18th Civil Court of Santiago dismissed the claim. On February 1, 2024, the Court of Appeals of Santiago, pending the ruling, revoked the first instance ruling and issued another in its replacement by virtue of which it partially accepted the claim, ordering the Company to pay the total sum of ThUS$52. SQM has filed an appeal, which resolution is pending. (g) In January 2018, the company Transportes Buen Destino S.A. filed an arbitration claim under CAM rules against SQM Salar for controversies resulting from the execution of transport contracts for lithium brine and transport of salts. The amount of the claim is close to US$ 3 million. The arbitration is currently awaiting a ruling. (h) The Company and FPC Ingeniería y Construcción SpA were sued in May 2019 for compensation for damages resulting from alleged extracontractual liability derived from the traffic accident occurring on March 5, 2018, involving the overturn of a truck owned by FPC and the subsequent death of its two occupants, both employees of FPC. The four children of one of the deceased workers are the plaintiffs in this case and are seeking compensation for moral damages. The case is in the 19th Civil Court of Santiago and is in the evidence stage. The amount of the claim is close to US$ 1.2 million. (i) Through resolution dated April 14, 2020, the General Water Bureau (DGA) fined SQM Salar S.A. an amount of 4,180 UTM for the alleged violation of article 294 of the Water Code. This resolution was appealed for reconsideration, and its resolution is currently pending. (j) On April 6, 2021, Empresa Eléctrica Cochrane SpA requested the constitution of arbitration to resolve a dispute in relation to electricity supply contracts signed on March 30, 2012, and February 1, 2013. The trial is currently in the discussion stage. On January 17, 2022, the Company filed a claim for early termination of the electricity supply contracts against Empresa Eléctrica Cochrane SpA. Both proceedings are awaiting a ruling. (k) In October 2021, the Company requested the constitution of an arbitration against Chilena Consolidada Seguros Generales S.A. to resolve differences in relation to the interpretation and execution of the directors’ and officers’ liability insurance policy.On December 14, 2023, the arbitrator accepted the Company's claim in its entirety and ordered the defendant to pay US$32.2 million. The case is currently before the Court of Appeals to hear the appeals and then to hear the cassation and appeal appeals filed by the defendant. (l) In February 2022, the company Montajes Eléctricos y Construcciones RER Limitada filed a claim for damages before the 21st Civil Court of Santiago against SQM Industrial S.A. for its alleged liability derived from the breach of an electrical installation contract. The case has reached the evidence stage and amounts to approximately ThUS$ 542. (m) In March 2023, Mr. Josué Merari Trujillo Montejano filed a lawsuit against SQM Comercial de México, S.A. de C.V. for damages for third-party civil liability for the death of his brother Mr. Manuel Agustín Trujillo Montejano, before the First Instance Judge of the Civil Branch of the city of Zapopan, Mexico. The lawsuit is currently under discussion. The amount of the lawsuit is approximately ThUS$ 330. (n) In May 2023, the heirs of Sami Al Taweel, a shareholder of Abu Dhabi Fertilizer Industries Company LLC (" Adfert "), filed a claim against SQM Corporation NV, other shareholders and former officers and directors of Adfert appointed by SQM Corporation NV, with the Settlement Center of the Abu Dhabi Commercial Court of First Instance, which alleges a debt of AED 73.5 million. The lawsuit is being heard by the Abu Dhabi Commercial Court of First Instance and is awaiting the report of the expert appointed by the court. (o) In May 2023, Mr. Luis Guillermo Benítez Peña and 17 other employees filed a lawsuit against a contractor, the Company and six other companies with the Labor Court of San Miguel for indirect dismissal, annulment of dismissal and payment of employment benefits. The case has reached the evidence stage. The lawsuit totals approximately ThUS$ 358. (p) In January 2024, Mr. José Luis Carreño Soto filed a lawsuit for protection of fundamental rights against a contractor company and the Company before the Labor Court of Antofagasta. The case is currently under discussion. The lawsuit totals approximately ThUS$ 227. (q) In February 2024, Messrs. Emiliano Malebrán Pallauta, Rubén Valenzuela González and José Aguilera Flores, filed before the Labor Court of Iquique a lawsuit against the Company, for protection of fundamental rights and, in subsidy, for undue dismissal and collection of benefits and compensation. The case is in the discussion stage. The amount of the lawsuit is approximately ThUS$369. (r) In February 2024, Mr. Manuel Jesús Lobos Cortés filed before the Labor Court of Iquique a claim against the Company for compensation for damages due to an occupational disease. The case is in the discussion stage. The amount of the claim is approximately ThUS$279. The Company and its subsidiaries have been involved and will probably continue to be involved either as plaintiffs or defendants in certain judicial proceedings that have been and will be heard by the arbitration or ordinary courts of justice that will make the final decision. Those proceedings that are regulated by the appropriate legal regulations are intended to exercise or oppose certain actions or exceptions related to certain mining claims either granted or to be granted and that do not or will not affect in an essential manner the development of the Company and its subsidiaries. Soquimich Comercial S.A., a subsidiary, has been involved and will probably continue being involved either as plaintiff or defendant in certain judicial proceedings through which it intends to collect and receive the amounts owed, the total nominal value of which is approximately US$1.05 million. The Company and its subsidiaries have made efforts and continues making efforts to obtain payment of certain amounts that are still owed to the Company due to its activities. Such amounts will continue to be required using judicial or non-judicial means by the plaintiffs, and the actions and exercise related to these are currently in full force and effect. 20.2 Environmental contingencies Through a ruling dated November 28, 2016, which was amended by a ruling dated December 23, 2016, the SMA filed charges against SQM Salar for extracting brine in excess of authorized amounts, progressively impacting the vitality of algarrobo trees, delivering incomplete information, modifying variables in the follow-up plan, and other matters. SQM Salar submitted a compliance program that was accepted by the SMA, although rendered null and void by the Environmental Court of Antofagasta in December 2019. In October 2020, the SMA made further observations to the compliance program, which were addressed through the submission of a reformulated compliance program, incorporating improvements in line with the Antofagasta Environmental Court ruling. On August 29, 2022, the SMA approved the compliance program submitted by SQM Salar, which was subjected to a claim filed by the Council of Atacameño Peoples with the Antofagasta Environmental Court. If the Council of Atacameño Peoples’ claim against SMA’s resolution that approved the compliance program is accepted and the program is annulled, the sanction process against SQM Salar could be resumed. This process may conclude with the application of fines up to US$ 9 million, temporary or permanent closure of facilities and in extreme circumstances, revocation of the respective environmental permit. 20.3 Tax Contingencies The Chilean IRS has sought to extend the specific mining tax to lithium mining, which cannot be concessioned under the legal system. As of December 31, 2023, the Chilean IRS has charged SQM a total of US$ 986.3 million, which SQM has paid, for the specific mining tax applied to lithium, corresponding to tax years 2012 to 2023 (business years 2011 to 2022). SQM Salar has filed seven tax claims against the Chilean IRS. The total amount associated with the tax claims is US$ 201.3 million, and it has a pending claim for US$ 785.0 million. Both amounts, already paid by SQM Salar, totaled US$986.3 million as of December 31, 2023, including an overcharge amount of US$59.5 million, a tax amount of US$818.0 million and an interest and fees amount of US$108.7 million. On April 5, 2024, the Santiago Court of Appeal issued a ruling in one of the Claims, the tax role case No. 312-2022, and revoked the ruling that had previously been handed down by the Tax and Customs Court of the Metropolitan Region, which upheld the public law annulment action filed by SQM Salar, corresponding to settlements for the 2017 and 2018 tax years. Although the ruling of the Santiago Court of Appeal does not affect all other Claims, filed by the SQM Salar against the Chilean IRS, and is still subject to appeal by SQM Salar, it prompted the review of the accounting treatment for the tax claims by the Company's Board of Directors. Consequently, the Company recognized a tax expense adjustment amounting US$1,089.5 million for the year ended December 31, 2023 (US$926.7 million relating to tax years 2011 to 2022 and US$162.7 million associated to tax year 2023), which corresponds to the impact that the interpretation of the Santiago Court of Appeal ruling could have on the Claims. As of December 31, 2023 and 2022, the Company presents non current tax receivables amounting US$ 59.5 million and US$ 127.1 million, respectively. The claims are as follows. (a) On August 26, 2016, a tax claim was filed before the Third Tax and Customs Court of the Metropolitan Region against assessments 169, 170, 171 and 172, issued by the Chilean IRS for the tax years 2012 to 2014. The amount in dispute is US$ 17.8 million, where (i) US$ 11.5 million is the tax claim, net of corporate income taxes and (ii) US$ 6.3 million is associated interest and penalties. The case is currently in the evidentiary stage. (b) On March 24, 2017, a tax claim was filed before the Third Tax and Customs Court of the Metropolitan Region against assessment 156 issued by the Chilean IRS for the tax year 2015. The amount in dispute is US$ 3.2 million is the tax claim, net of corporate income taxes. The case is currently in the evidentiary stage. (c) On March 24, 2017, a tax claim was filed before the Third Tax and Customs Court of the Metropolitan Region against assessment 207 issued by the Chilean IRS for the tax year 2016. The amount in dispute is US$ 5.5 million, where (i) US$ 1.2 million is overpaid taxes, (ii) US$ 3.8 million is the tax claim, net of corporate income taxes and (iii) US$0.5 million is associated interest and penalties. The case is currently in the evidentiary stage. (d) On July 15, 2021, SQM Salar filed before the First Tax and Customs Court of the Metropolitan Region a tax annulment and claim against assessments 65 and 66, issued by the Chilean IRS, for the tax years 2017 and 2018. The amount in dispute is US$ 63.9 million, where (i) US$ 17.6 million is overpaid taxes, (ii) US$ 30.2 million is the tax claim, net of corporate income tax, and (iii) US$ 16.1 million is associated interest and penalties. On November 7, 2022, the First Tax and Customs Court upheld SQM Salar's claim and ordered the annulment of these tax assessments. This judgment was appealed by the Chilean IRS and on April 5, 2024, the Court of Appeals of Santiago revoked the first instance ruling in that it accepted the public law annulment action aimed at challenging the charges, accepting the claim only with respect to those miscalculated items recognized by the Chilean IRS. (e) On June 30, 2023, SQM Salar filed before the First Tax and Customs Court of the Metropolitan Region a tax annulment and claim against assessment 23, issued by the Chilean IRS, for the tax year 2019. The amount in dispute is US$ 36.7 million, where (i) US$ 9.7 million is overpaid taxes, and (ii) US$ 27.0 million is the tax claim, net of corporate income taxes. The trial is currently at the discussion stage. (f) On January 19, 2024, SQM Salar filed before the Third Tax and Customs Court of the Metropolitan Region, a tax annulment and claim against assessment 56 issued by the Chilean IRS for the tax years 2020 and 2021. The amount in dispute is US$ 20.7 million, where US$ 5.6 million is overpaid taxes and US$ 15.1 million is the tax claim, net of corporate income taxes. The case is currently at the discussion stage. (g) On January 19, 2024, SQM Salar filed before the Third Tax and Customs Court of the Metropolitan Region a tax annulment and claim against assessment 1, issued by the Chilean IRS, for the tax year 2022. The amount in dispute is US$ 53.5 million, where (i) US$ 14.4 million is overpaid taxes, (ii) US$ 36.1 million is the tax claim, net of corporate income taxes and (iii) US$ 3 million is associated interest and penalties. The case is currently at the discussion stage. The assessments and pending claims are as follows: On December 19, 2023, the Chilean IRS invoiced the Company for a sum of US$785 million for the tax year 2023 (covering the 2022 business year), pertaining to the specific tax on mining activities. Within this total, US$691.2 million represents the tax claimed, net of corporate income tax, and US$10.9 million is the excess tax payments. The Chilean IRS has not invoiced the Company for specific mining tax with respect to the 2024 tax year (2023 business year). If the Chilean IRS uses criteria similar to that used in previous years, then it may invoice the Company in the future for the 2023 business year, which the Company estimates could be an amount of approximately US$ 162.7 million, net of corporate income taxes, but excluding interest and penalties. See Note 26.2 “Disclosures on events occurring after the reporting date” for a description of subsequent events. 20.4 Indirect guarantees As of December 31, 2023 and 2022, there are no indirect guarantees. 20.5 Other matters The Company is required to be in compliance with all applicable laws and regulations in Chile and internationally with respect to anti-corruption, anti-money laundering and other regulatory matters, including the Foreign Corrupt Practices Act (FCPA). The Company has received a request for information and subpoena from the SEC requesting information related to our business operations, compliance program, and allegations of potential violations of the FCPA and other anti-corruption laws. The SEC has said that the investigation is a non-public, fact-finding inquiry and we are not aware that any conclusion has been reached by the SEC. Management has initiated an internal review to identify materials that are responsive to the SEC’s inquiry and are actively cooperating in the SEC’s review by providing the information requested . |
Gains (losses) from operating a
Gains (losses) from operating activities in the statement of income of expenses, included according to their nature | 12 Months Ended |
Dec. 31, 2023 | |
Gains (Losses) From Operating Activities In The Statement Of Income Of Expenses, Included According To Their Nature | |
Gains (losses) from operating activities in the statement of income of expenses, included according to their nature | Gains (losses) from operating activities in the statement of income of expenses, included according to their nature. 21.1 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 Iodine and Lithium and Potassium Industrial Other Total 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 Iodine and Lithium and Potassium Industrial Other Total 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 Iodine and Lithium and Potassium Industrial Other Total 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 (b) 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 21.2 Cost of sales Cost of sales broken down by nature of expense: For the period from January 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) 21.3 Other income For the period from January 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$24,387 in September 2023, related to the permanence of its commercial office of SQM Shanghai Chemicals Co. Ltd. in the current district, which was recognized as part of this category 21.4 Administrative expenses For the period from January Administrative expenses 2023 2022 2021 ThUS$ 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) 21.5 Other expenses For the period from January 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) 21.6 Other (losses) gains For the period from January 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) 21.7 Impairment losses and reversals for financial assets For the period from January 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) 21.8 Summary of expenses by nature The following summary considers notes 21.2, 21.4 and 21.5. For the period from January 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) 21.9 Finance expenses For the period from January 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) 21.10 Finance income For the period from January 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 |
Reportable segments
Reportable segments | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of operating segments [abstract] | |
Reportable segments | Reportable segments 22.1 Reportable segments (a) General information: The amount of each item presented in each operating segment is equal to that reported to the highest authority that makes decisions regarding the operation, in order to decide on the allocation of resources to the defined segments and to assess its performance. These operating segments mentioned are consistent with the way the Company is managed and how results will be reported by the Company. These segments reflect separate operating results that are regularly reviewed by the executive responsible for operational decisions in order to make decisions about the resources to be allocated to the segment and assess its performance (See Note 22.2). The performance of each segment is measured based on net income and revenues. Inter-segment sales are made using terms and conditions at current market rates. (b) Factors used to identify segments on which a report should be presented: The segments covered in the report are strategic business units that offer different products and services. These are managed separately because each business requires different technology and marketing strategies. (c) Description of the types of products and services from which each reportable segment obtains its income from ordinary activities The operating segments are as follows: (i) Specialty plant nutrients (ii) Iodine and its derivatives (iii) Lithium and its derivatives (iv) Industrial chemicals (v) Potassium (vi) Other products and services (d) Description of income sources for all the other segments Information regarding assets, liabilities, gains and expenses that cannot be assigned to the segments indicated above, due to the nature of production processes, is included under the "Unallocated amounts” category of the disclosed information. (e) Description of the nature of the differences between measurements of results of reportable segments and the result of the entity before the expense or income tax expense of incomes The information reported in the segments is extracted from the Company’s consolidated financial statements and therefore there is no need to prepare reconciliations between the data mentioned above and those reported in the respective segments, according to what is stated in paragraph 28 of IFRS 8, "Operating Segments". For the allocation of inventory valuation costs, we identify the direct expenses (can be directly allocated to products) and the common expenses (belong to co-production processes, for example common leaching expenses for production of Iodine and Nitrates), Direct costs are directly allocated to the product and the common costs are distributed according to percentages that consider different variables in their determination, such as margins, rotation of inventories, revenue, production etc. The allocation of other common costs that are not included in the inventory valuation process, but go straight to the cost of sales, use similar criteria: the costs associated with a product or sales in particular are assigned to that particular product or sales, and the common costs associated with different products or business lines are allocated according to the sales. (f) Description of the nature of the differences between measurements of assets of reportable segments and the Company´s assets Assets are not shown classified by segments, as this information is not readily available, some of these assets are not separable by the type of activity by which they are affected since this information is not used by management in decision-making with respect to resources to be allocated to each defined segment. All assets are disclosed in the "unallocated amounts" category. (g) Description of the nature of the differences between measurements of liabilities of reportable segments and the Company’s liabilities Liabilities are not shown classified by segments, as this information is not readily available, some of these liabilities are not separable by the type of activity by which they are affected, since this information is not used by management in decision-making regarding resources to be allocated to each defined segment. All liabilities are disclosed in the "unallocated amounts" category. 22.2 Reportable segment disclosures: Operating segment items for the year ended December 31, 2023 Specialty Iodine and its Lithium and Industrial Potassium Other Reportable Operating Unallocated Total as of ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Revenue 913,912 892,151 5,180,114 175,223 279,050 27,040 7,467,490 7,467,490 — 7,467,490 Revenues from transactions with other operating segments of the same entity — — — — — — — — — — Revenues from external customers and transactions with other operating segments of the same entity 913,912 892,151 5,180,114 175,223 279,050 27,040 7,467,490 7,467,490 — 7,467,490 Costs of sales (691,509) (355,717) (2,955,669) (141,351) (219,597) (28,593) (4,392,436) (4,392,436) — (4,392,436) Administrative expenses — — — — — — — — (175,765) (175,765) Finance expense — — — — — — — — (138,402) (138,402) Depreciation and amortization expense (70,342) (53,140) (124,010) (15,232) (18,006) (57) (280,787) (280,787) — (280,787) The entity’s interest in the income of associates and joint ventures accounted for by the equity method — — — — — — — — 593 593 Income before taxes 222,403 536,434 2,224,445 33,872 59,453 (1,553) 3,075,054 3,075,054 (268,036) 2,807,018 Income tax expense — — — — — — — — (1,876,751) (1,876,751) Net income (loss) 222,403 536,434 2,224,445 33,872 59,453 (1,553) 3,075,054 3,075,054 (2,144,787) 930,267 Assets — — — — — — — — 10,778,837 10,778,837 Equity-accounted investees — — — — — — — — 86,417 86,417 Incorporation of non-current assets other than financial instruments, deferred tax assets, net defined benefit assets and rights arising from insurance contracts — — — — — — — — 2,785,385 2,785,385 Liabilities — — — — — — — — 6,301,408 6,301,408 Impairment loss of financial assets recognized in income — — 202 202 Impairment loss of non-financial assets recognized in income — — — — — — — — (47,068) (47,068) Cash flows Cash flows from operating activities — — — — — — — — (196,639) (196,639) Cash flows used in investing activities — — — — — — — — (1,481,493) (1,481,493) Cash flows from financing activities — — — — — — — — 66,261 66,261 Operating segment items for the year ended December 31, 2022 Specialty Iodine and its Lithium and Industrial Potassium Other Reportable Operating Unallocated Total as of ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Revenue 1,172,334 754,339 8,152,939 165,200 437,180 28,586 10,710,578 10,710,578 — 10,710,578 Revenues from transactions with other operating segments of the same entity — — — — — — — — — — Revenues from external customers and transactions with other operating segments of the same entity 1,172,334 754,339 8,152,939 165,200 437,180 28,586 10,710,578 10,710,578 — 10,710,578 Costs of sales (722,261) (282,100) (3,636,852) (112,247) (193,581) (26,912) (4,973,953) (4,973,953) — (4,973,953) Administrative expenses — — — — — — — — (142,644) (142,644) Finance expense — — — — — — — — (86,651) (86,651) Depreciation and amortization expense (63,321) (53,734) (88,510) (14,724) (24,043) (126) (244,458) (244,458) — (244,458) The entity’s interest in the income of associates and joint ventures accounted for by the equity method — — — — — — — — 20,159 20,159 Income before taxes 450,073 472,239 4,516,087 52,953 243,599 1,674 5,736,625 5,736,625 (250,129) 5,486,496 Income tax expense — — — — — — — — (1,572,212) (1,572,212) Net income (loss) 450,073 472,239 4,516,087 52,953 243,599 1,674 5,736,625 5,736,625 (1,822,341) 3,914,284 Assets — — — — — — — — 10,819,101 10,819,101 Equity-accounted investees — — — — — — — — 54,386 54,386 Incorporation of non-current assets other than financial instruments, deferred tax assets, net defined benefit assets and rights arising from insurance contracts — — — — — — — — 1,757,581 1,757,581 Liabilities — — — — — — — — 5,887,100 5,887,100 Impairment loss of financial assets recognized in income — — 3,369 3,369 Impairment loss of non-financial assets recognized in income — — — — — — — — (42,233) (42,233) Cash flows Cash flows from operating activities — — — — — — — — 4,077,595 4,077,595 Cash flows used in investing activities — — — — — — — — (909,401) (909,401) Cash flows from financing activities — — — — — — — — (2,002,969) (2,002,969) Operating segment items for the year ended December 31, 2021 Specialty Iodine and its Lithium and Industrial Potassium Other Reportable Operating Unallocated Total as of ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Revenue 908,815 437,931 936,121 132,011 416,592 30,845 2,862,315 2,862,315 — 2,862,315 Revenues from transactions with other operating segments of the same entity — — — — — — — — — — Revenues from external customers and transactions with other operating segments of the same entity 908,815 437,931 936,121 132,011 416,592 30,845 2,862,315 2,862,315 — 2,862,315 Costs of sales (646,930) (240,341) (494,794) (109,067) (253,125) (27,951) (1,772,208) (1,772,208) — (1,772,208) Administrative expenses — — — — — — — — (118,893) (118,893) Finance expense — — — — — — — — (84,626) (84,626) Depreciation and amortization expense (58,808) (41,215) (65,014) (13,743) (35,290) (169) (214,239) (214,239) — (214,239) The entity’s interest in the income of associates and joint ventures accounted for by the equity method — — — — — — — — 11,132 11,132 Income before taxes 261,885 197,590 441,327 22,944 163,467 2,894 1,090,107 1,090,107 (248,886) 841,221 Income tax expense — — — — — — — — (249,016) (249,016) Net income (loss) 261,885 197,590 441,327 22,944 163,467 2,894 1,090,107 1,090,107 (497,902) 592,205 Assets — — — — — — — — 7,180,201 7,180,201 Equity-accounted investees — — — — — — — — 39,824 39,824 Incorporation of non-current assets other than financial instruments, deferred tax assets, net defined benefit assets and rights arising from insurance contracts — — — — — — — — 152,663 152,663 Other Liabilities — — — — — — — — 3,964,230 3,964,230 Impairment loss of financial assets recognized in income — — — — — — — — (235) (235) Impairment loss of non-financial assets recognized in income — — — — — — — — (6,060) (6,060) Cash flows Cash flows from operating activities — — — — — — — — 822,520 822,520 Cash flows used in investing activities — — — — — — — — (1,006,943) (1,006,943) Cash flows from financing activities — — — — — — — — 1,206,485 1,206,485 22.3 Statement of comprehensive income classified by reportable segments based on groups of products Items in the statement of comprehensive income for the year ended December 31,2023 Specialty plant nutrients Iodine and its derivatives Lithium and its derivatives Industrial chemicals Potassium Other products and services Corporate Unit Total segments and Corporate unit ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Revenue 913,912 892,151 5,180,114 175,223 279,050 27,040 — 7,467,490 Costs of sales (691,509) (355,717) (2,955,669) (141,351) (219,597) (28,593) — (4,392,436) Gross profit 222,403 536,434 2,224,445 33,872 59,453 (1,553) — 3,075,054 Other incomes by function — — — — — — 40,557 40,557 Administrative expenses — — — — — — (175,765) (175,765) Other expenses by function — — — — — — (93,400) (93,400) Impairment of gains and review of impairment losses (impairment losses) determined in accordance with IFRS 9 — — — — — — 202 202 Other losses — — — — — — (2,254) (2,254) Financial income — — — — — — 122,726 122,726 Financial costs — — — — — — (138,402) (138,402) Interest in the income of associates and joint ventures accounted for by the equity method — — — — — — 593 593 Exchange differences — — — — — — (22,293) (22,293) Income before taxes 222,403 536,434 2,224,445 33,872 59,453 (1,553) (268,036) 2,807,018 Income tax expense — — — — — — (1,876,751) (1,876,751) Net income 222,403 536,434 2,224,445 33,872 59,453 (1,553) (2,144,787) 930,267 Items in the statement of comprehensive income for the year ended December 31,2022 Specialty plant nutrients Iodine and its derivatives Lithium and its derivatives Industrial chemicals Potassium Other products and services Corporate Unit Total segments and Corporate unit ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Revenue 1,172,334 754,339 8,152,939 165,200 437,180 28,586 — 10,710,578 Costs of sales (722,261) (282,100) (3,636,852) (112,247) (193,581) (26,912) — (4,973,953) Gross profit 450,073 472,239 4,516,087 52,953 243,599 1,674 — 5,736,625 Other incomes by function — — — — — — 9,854 9,854 Administrative expenses — — — — — — (142,644) (142,644) Other expenses by function — — — — — — (75,971) (75,971) Impairment of gains and review of impairment losses (impairment losses) determined in accordance with IFRS 9 — — — — — — 3,369 3,369 Other gains — — — — — — 117 117 Financial income — — — — — — 47,038 47,038 Financial costs — — — — — — (86,651) (86,651) Interest in the income of associates and joint ventures accounted for by the equity method — — — — — — 20,159 20,159 Exchange differences — — — — — — (25,400) (25,400) Income before taxes 450,073 472,239 4,516,087 52,953 243,599 1,674 (250,129) 5,486,496 Income tax expense — — — — — — (1,572,212) (1,572,212) Net income 450,073 472,239 4,516,087 52,953 243,599 1,674 (1,822,341) 3,914,284 Items in the statement of comprehensive income for the year ended December 31,2021 Specialty plant nutrients Iodine and its derivatives Lithium and its derivatives Industrial chemicals Potassium Other products and services Corporate Unit Total segments and Corporate unit ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Revenue 908,815 437,931 936,121 132,011 416,592 30,845 — 2,862,315 Cost of sales (646,930) (240,341) (494,794) (109,067) (253,125) (27,951) — (1,772,208) Gross profit 261,885 197,590 441,327 22,944 163,467 2,894 — 1,090,107 Other incomes by function — — — — — — 19,552 19,552 Administrative expenses — — — — — — (118,893) (118,893) Other expenses by function — — — — — — (60,605) (60,605) Impairment of gains and review of impairment losses (impairment losses) determined in accordance with IFRS 9 — — — — — — (235) (235) Other losses — — — — — — (2,638) (2,638) Financial income — — — — — — 4,668 4,668 Financial costs — — — — — — (84,626) (84,626) Interest in the income of associates and joint ventures accounted for by the equity method — — — — — — 11,132 11,132 Exchange differences — — — — — — (17,241) (17,241) Income before taxes 261,885 197,590 441,327 22,944 163,467 2,894 (248,886) 841,221 Income tax expense — — — — — — (249,016) (249,016) Net income from continuing operations 261,885 197,590 441,327 22,944 163,467 2,894 (497,902) 592,205 22.4 Disclosures on geographical areas As indicated in paragraph 33 of IFRS 8, the entity discloses geographical information on its revenue from operating activities with external customers and from non-current assets that are not financial instruments, deferred income tax assets, assets related to post-employment benefits or rights derived from insurance contracts. 22.5 Disclosures on main customers With respect to the degree of dependency of the Company on its customers, in accordance with paragraph 34 of IFRS 8, the Company has no external customers who individually represent 10% or more of its revenue. 22.6 Segments by geographical areas Segments by geographical areas Chile Latin America and the Europe North America Asia and others Total ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Revenue at December 31, 2023 169,681 210,299 828,112 783,611 5,475,787 7,467,490 Non-current assets at December 31, 2023 Investment accounted for under the equity method — 22,490 42,726 17,657 3,544 86,417 Intangible assets other than goodwill 67,671 360 6,440 876 80,527 155,874 Goodwill — 86 148 724 — 958 Property, plant and equipment, net 2,888,778 776 14,485 6,322 699,576 3,609,937 Right-of-use assets 32,359 19 3,716 8,619 28,480 73,193 Other non-current assets 60,363 18 — 5,099 308,220 373,700 Non-current assets 3,049,171 23,749 67,515 39,297 1,120,347 4,300,079 Segments by geographical areas Chile Latin America and the Europe North America Asia and others Total ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Revenue for the year ended December 31, 2022 223,148 339,940 932,558 914,187 8,300,745 10,710,578 Non-current assets at December 31, 2022 Investment accounted for under the equity method — 20,792 15,939 17,655 — 54,386 Intangible assets other than goodwill 75,666 428 6,497 1,345 82,400 166,336 Goodwill — 86 158 723 — 967 Property, plant and equipment, net 2,269,923 743 14,978 4,506 436,688 2,726,838 Right-of-use assets 32,312 47 1,651 2,739 24,118 60,867 Other non-current assets 46,640 17 6 4,706 1,027 52,396 Non-current assets 2,424,541 22,113 39,229 31,674 544,233 3,061,790 Segments by geographical areas Chile Latin America and the Europe North America Asia and others Total ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Revenue for the year ended December 31, 2021 219,648 326,287 482,765 558,002 1,275,613 2,862,315 Non-current assets at December 31, 2021 Investment accounted for under the equity method — 8,683 15,242 15,899 — 39,824 Intangible assets other than goodwill 89,019 496 6,996 1,809 81,338 179,658 Goodwill 22,979 86 11,531 — — 34,596 Property, plant and equipment, net 1,815,997 671 11,380 3,704 180,473 2,012,225 Right-of-use assets 29,803 68 2,040 3,351 17,346 52,608 Other non-current assets 27,626 16 6 3,950 1,889 33,487 Non-current assets 1,985,424 10,020 47,195 28,713 281,046 2,352,398 |
Effect of fluctuations in forei
Effect of fluctuations in foreign currency exchange rates | 12 Months Ended |
Dec. 31, 2023 | |
Effect Of Fluctuations In Foreign Currency Exchange Rates | |
Effect of fluctuations in foreign currency exchange rates | Effect of fluctuations in foreign currency exchange rates (a) Reserves for foreign currency exchange differences: As of December 31, 2023, and 2022, are detailed as follows: Details As of As of As of ThUS$ ThUS$ ThUS$ Changes in equity generated by the equity method value through conversion: Comercial Hydro S.A. 1,004 1,004 1,004 SQMC Internacional Ltda. (9) (9) (9) Proinsa Ltda. (10) (10) (10) Comercial Agrorama Ltda. 188 175 155 Isapre Norte Grande Ltda. (147) (130) (121) Almacenes y Depósitos Ltda. 662 568 305 Sacal S.A. (3) (3) (3) Sociedad Prestadora de Servicios de Salud Cruz del Norte S.A. (41) (38) (36) Agrorama S.A. 730 666 628 SQM Vitas Fzco (1,164) (3,614) (4,165) Ajay Europe (1,529) (1,911) (1,413) SQM Oceanía Pty Ltd. (579) (579) (579) SQM Indonesia S.A. (124) (124) (124) Abu Dhabi Fertillizers Industries WWL. — — 372 SQM Holland B.V. 99 99 99 SQM Thailand Limited (68) (68) (68) SQM Europe (1,983) (1,983) (1,983) SQM Australia Pty Ltd. (1,643) (1,642) (1,732) Pavoni & C. Spa (224) (363) (153) SQM Colombia S.A.S. (80) (80) (80) Total (4,921) (8,042) (7,913) (b) Functional and presentation currency The functional currency of these companies corresponds to the currency of the country of origin of each entity, and its presentation currency is the dollar. (c) Reasons to use one presentation currency and a different functional currency – A relevant portion of the revenues of these subsidiaries are associated with the local currency. – The cost structure of these companies is affected by the local currency. |
Disclosures on the effects of f
Disclosures on the effects of fluctuations in foreign currency exchange rates | 12 Months Ended |
Dec. 31, 2023 | |
Foreign exchange rates [abstract] | |
Disclosures on the effects of fluctuations in foreign currency exchange rates | Disclosures on the effects of fluctuations in foreign currency exchange rates a) Assets held in foreign currency subject to fluctuations in exchange rates are detailed as follows: Class of Asset Currency As of As of ThUS$ ThUS$ Cash and cash equivalents USD 855,001 1,637,507 Cash and cash equivalents CLP 3,425 806,106 Cash and cash equivalents CNY 31,362 92,394 Cash and cash equivalents EUR 11,183 14,963 Cash and cash equivalents GBP 26 1 Cash and cash equivalents AUD 108,883 89,602 Cash and cash equivalents MXN 649 1,406 Cash and cash equivalents AED 6 2 Cash and cash equivalents JPY 899 686 Cash and cash equivalents NOK 8 — Cash and cash equivalents ZAR 10,559 11,647 Cash and cash equivalents KRW 19,364 918 Cash and cash equivalents IDR 3 3 Cash and cash equivalents PLN 1 1 Subtotal cash and cash equivalents 1,041,369 2,655,236 Other current financial assets USD 879,612 722,165 Other current financial assets BRL 10 39 Other current financial assets CLP 446,221 239,151 Subtotal other current financial assets 1,325,843 961,355 Other current non-financial assets USD 22,092 35,237 Other current non-financial assets AUD 4,870 9,516 Other current non-financial assets CLF 227 259 Other current non-financial assets CLP 85,079 85,608 Other current non-financial assets CNY 529 56,404 Other current non-financial assets EUR 1,304 1,046 Other current non-financial assets COP 294 217 Other current non-financial assets MXN 2,014 4,685 Other current non-financial assets THB 2 2 Other current non-financial assets JPY 2,267 158 Other current non-financial assets ZAR 41 3,203 Other current non-financial assets KRW 18,031 — Subtotal other non-financial current assets 136,750 196,335 Trade and other receivables USD 516,261 788,596 Trade and other receivables BRL 8 22 Trade and other receivables CLF 1,330 550 Trade and other receivables CLP 61,146 58,412 Trade and other receivables CNY 282,117 161,492 Trade and other receivables EUR 25,542 36,318 Trade and other receivables GBP 147 76 Trade and other receivables MXN 670 889 Trade and other receivables AED 1,467 3,116 Trade and other receivables JPY 382 129 Trade and other receivables AUD 2,598 1,708 Trade and other receivables ZAR 12,295 33,361 Trade and other receivables KRW 8 — Trade and other receivables COP 3,210 2,751 Subtotal trade and other receivables 907,181 1,087,420 Class of Asset Currency As of As of ThUS$ ThUS$ Receivables from related parties USD 40,236 79,331 Receivables from related parties EUR 3,017 1,250 Receivables from related parties AUD — 1,041 Subtotal receivables from related parties 43,253 81,622 Current inventories USD 1,774,594 1,784,281 Subtotal Current Inventories 1,774,594 1,784,281 Current tax assets USD 611,841 127,068 Current tax assets BRL 2 1 Current tax assets CLP 3,637 2,125 Current tax assets EUR 13,556 14,042 Current tax assets MXN 5,216 59 Current tax assets JPY 11 — Current tax assets CNY — 77,397 Current tax assets ZAR 29 28 Current tax assets COP 2,741 1,481 Current tax assets KRW — 2,713 Subtotal current tax assets 637,033 224,914 Non-current assets or groups of assets classified as held for sale USD 118 346 Subtotal Non-current assets or groups of assets classified as held for sale 118 346 Total current assets 5,866,141 6,991,509 Other non-current financial assets USD 248,281 32,126 Subtotal Other non-current financial assets 248,281 32,126 Other non-current non-financial assets USD 65,616 52,396 Other non-current non-financial assets CNY 308,084 — Subtotal Other non-current non-financial assets 373,700 52,396 Other receivables, non-current USD 705 713 Other receivables, non-current CLF 9 77 Other receivables, non-current MXN 179 88 Other receivables, non-current KRW 667 — Other receivables, non-current CLP 999 1,213 Subtotal Other receivables, non-current 2,559 2,091 Investments classified using the equity method of accounting USD 76,532 22,959 Investments classified using the equity method of accounting AED 2,778 19,597 Investments classified using the equity method of accounting EUR 7,107 11,830 Subtotal Investments classified using the equity method of accounting 86,417 54,386 Intangible assets other than goodwill USD 155,874 166,336 Subtotal intangible assets other than goodwill 155,874 166,336 Purchases goodwill, gross USD 958 967 Subtotal Purchases goodwill, gross 958 967 Property, plant and equipment USD 3,609,937 2,726,838 Subtotal property, plant and equipment 3,609,937 2,726,838 Right-of-use assets USD 73,193 60,867 Subtotal Right-of-use assets 73,193 60,867 Non-current tax assets USD 59,541 127,114 Subtotal non-current tax assets 59,541 127,114 Deferred tax assets USD 302,236 604,471 Subtotal Deferred tax assets 302,236 604,471 Total non-current assets 4,912,696 3,827,592 Total assets 10,778,837 10,819,101 As of December 31, 2023 As of December 31, 2022 Class of liability Currency Up to 90 days More than 90 Total Up to 90 days More than 90 Total ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Current liabilities Other current financial liabilities USD 773,314 462,656 1,235,970 120,652 381,922 502,574 Other current financial liabilities CLF 20,191 338 20,529 20,094 331 20,425 Subtotal other current financial liabilities 793,505 462,994 1,256,499 140,746 382,253 522,999 Lease liabilities, current USD — 9,293 9,293 — 6,549 6,549 Lease liabilities, current CLF — 2,284 2,284 — 2,331 2,331 Lease liabilities, current MXN — 3,573 3,573 — 436 436 Lease liabilities, current EUR — 438 438 — 387 387 Lease liabilities, current AUD — 2,604 2,604 — 2,446 2,446 Subtotal Lease liabilities, current — 18,192 18,192 — 12,149 12,149 Trade and other payables USD 87,043 7,310 94,353 121,260 110 121,370 Trade and other payables CLF 3,614 — 3,614 2,618 — 2,618 Trade and other payables BRL 12 — 12 10 — 10 Trade and other payables THB 4 — 4 4 — 4 Trade and other payables CLP 227,990 52 228,042 162,470 — 162,470 Trade and other payables CNY 28,562 — 28,562 4,757 — 4,757 Trade and other payables EUR 52,883 6,399 59,282 56,118 564 56,682 Trade and other payables GBP 18 — 18 18 — 18 Trade and other payables MXN 1,499 — 1,499 802 — 802 Trade and other payables AUD 32,439 7 32,446 24,394 — 24,394 Trade and other payables ZAR 984 — 984 1,256 — 1,256 Trade and other payables AED — — — 72 — 72 Trade and other payables JPY — — — — — — Trade and other payables CHF 21 — 21 32 — 32 Trade and other payables COP 302 — 302 115 — 115 Trade and other payables CAD 2 — — — Trade and other payables KRW 492 — 492 189 — 189 Subtotal trade and other payables 435,865 13,768 449,633 374,115 674 374,789 Trade payables due to related parties AUD 2,346 — 2,346 — — — Subtotal Trade payables due to related parties 2,346 — 2,346 — — — Other current provisions USD 384,972 6,793 391,765 1,300,878 2,051 1,302,929 Other current provisions CLP 332 — 332 — 217 217 Other current provisions JPY 225 — 225 — — — As of December 31, 2023 As of December 31, 2022 Class of liability Currency Up to 90 days More than 90 Total Up to 90 days More than 90 Total ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Subtotal other current provisions 385,529 6,793 392,322 1,300,878 2,268 1,303,146 Current tax liabilities USD 162,743 9,805 172,548 — 348,658 348,658 Current tax liabilities CLP — 513 513 — 999 999 Current tax liabilities EUR — 4,850 4,850 — 1,386 1,386 Current tax liabilities MXN — — — — 5,568 5,568 Current tax liabilities AUD — 169 169 — — — Current tax liabilities KRW — 5,197 5,197 — — — Current tax liabilities CNY — 356 356 — — — Subtotal current tax liabilities 162,743 20,890 183,633 — 356,611 356,611 Provisions for employee benefits, current USD 21,575 — 21,575 25,867 8,631 34,498 Provisions for employee benefits, current AUD 492 — 492 390 — 390 Provisions for employee benefits, current EUR 560 — 560 385 — 385 Provisions for employee benefits, current CLP 1,117 — 1,117 — — — Provisions for employee benefits, current MXN 202 — 202 103 — 103 Subtotal Provisions for employee benefits, current 23,946 — 23,946 26,745 8,631 35,376 Other current non-financial liabilities USD 57,114 61,037 118,151 393,401 98 393,499 Other current non-financial liabilities BRL 17 — 17 1 — 1 Other current non-financial liabilities CLP 32,780 24,787 57,567 8,281 39,456 47,737 Other current non-financial liabilities CNY 134 — 134 92 — 92 Other current non-financial liabilities EUR 669 969 1,638 1,564 250 1,814 Other current non-financial liabilities MXN 966 16 982 725 14 739 Other current non-financial liabilities JPY 49 — 49 47 — 47 Other current non-financial liabilities PEN — — — — — — Other current non-financial liabilities COP 202 — 202 250 — 250 Other current non-financial liabilities ARS — — — 26 — 26 Other current non-financial liabilities ZAR 550 — 550 — 1 1 Other current non-financial liabilities KRW 8,015 — 8,015 2,271 — 2,271 Subtotal other current non-financial liabilities 100,496 86,809 187,305 406,658 39,819 446,477 Total current liabilities 1,904,430 609,446 2,513,876 2,249,142 802,405 3,051,547 As of December 31, 2023 Class of liability Currency Over 1 year to 2 Over 2 years to 3 Over 3 years to 4 Over 4 years to 5 Over 5 years Total ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Non-current liabilities Other non-current financial liabilities USD 249,963 195,833 99,685 — 2,271,326 2,816,807 Other non-current financial liabilities CLF — — — — 396,615 396,615 Subtotal Other non-current financial liabilities 249,963 195,833 99,685 — 2,667,941 3,213,422 Non-current lease liabilities USD — 13,059 — 4,843 — 17,902 Non-current lease liabilities CLP — — — 21 — 21 Non-current lease liabilities CLF — 8,971 — — — 8,971 Non-current lease liabilities MXN — — — 4,235 — 4,235 Non-current lease liabilities EUR — — — 3,315 — 3,315 Non-current lease liabilities AUD — — — 22,522 — 22,522 Subtotal non-current lease liabilities — 22,030 — 34,936 — 56,966 Non-current Trade and other payables USD — — — — — — Subtotal Non-current Trade and other payables — — — — — — Other non-current provisions USD — 27,599 — — 32,851 60,450 Subtotal Other non-current provisions — 27,599 — — 32,851 60,450 Deferred tax liabilities USD — 394,688 — — — 394,688 Subtotal Deferred tax liabilities — 394,688 — — — 394,688 Provisions for employee benefits, non-current USD 10,008 8,066 — — 440 18,514 Provisions for employee benefits, non-current CLP 42,813 — — — — 42,813 Provisions for employee benefits, non-current MXN 314 — — — — 314 Provisions for employee benefits, non-current AUD — — — — 91 91 Provisions for employee benefits, non-current JPY 218 — — — — 218 Provisions for employee benefits, non-current EUR 56 — — — — 56 Subtotal Provisions for employee benefits, non-current 53,409 8,066 — — 531 62,006 Total non-current liabilities 303,372 648,216 99,685 34,936 2,701,323 3,787,532 Total liabilities 6,301,408 As of December 31, 2022 Class of liability Currency Over 1 year to 2 Over 2 years to 3 Over 3 years to 4 Over 4 years to 5 Over 5 years Total ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Non-current liabilities Other non-current financial liabilities USD — 197,521 249,531 — 1,544,654 1,991,706 Other non-current financial liabilities CLF — — — — 402,512 402,512 Subtotal Other non-current financial liabilities — 197,521 249,531 — 1,947,166 2,394,218 Non-current lease liabilities USD — 13,566 — 22,500 — 36,066 Non-current lease liabilities CLP — — — 23 — 23 Non-current lease liabilities CLF — — — 10,982 — 10,982 Non-current lease liabilities MXN — — — 1,094 — 1,094 Non-current lease liabilities EUR — — — 1,420 — 1,420 Subtotal non-current lease liabilities — 13,566 — 36,019 — 49,585 Non-current Trade and other payables USD — — — — — — Subtotal Non-current Trade and other payables — — — — — — Other non-current provisions USD — 3,648 — 26,200 28,205 58,053 Subtotal Other non-current provisions — 3,648 — 26,200 28,205 58,053 Deferred tax liabilities USD — 289,825 — — — 289,825 Subtotal Deferred tax liabilities — 289,825 — — — 289,825 Provisions for employee benefits, non-current USD 34,326 — — — 9,006 43,332 Provisions for employee benefits, non-current CLP 540 — — — — 540 Subtotal Provisions for employee benefits, non-current 34,866 — — — 9,006 43,872 Total non-current liabilities 34,866 504,560 249,531 62,219 1,984,377 2,835,553 Total liabilities 5,887,100 Effects of changes in foreign currency exchange rates on the statement of net income and other comprehensive income. For the period from January to December of the year Foreign currency exchange rate changes 2023 2022 2021 ThUS$ ThUS$ ThUS$ Foreign currency loss (22,293) (25,400) (17,241) Foreign currency translation reserve 3,177 (255) 4,240 Total (19,116) (25,655) (13,001) The average and closing exchange rate for foreign currency is disclosed in Note 3.3 |
Income tax and deferred taxes
Income tax and deferred taxes | 12 Months Ended |
Dec. 31, 2023 | |
Major components of tax expense (income) [abstract] | |
Income tax and deferred taxes | Income tax and deferred taxes Tax receivables as of December 31, 2023 and 2022, are as follows: 25.1 Current and non-current tax assets (a) Current Current tax assets As of As of ThUS$ ThUS$ Monthly provisional income tax payments, Chilean companies 584,382 894 Monthly provisional income tax payments, foreign companies 26,741 96,906 Corporate tax credits (1) 1,918 653 1st category tax absorbed by tax losses (2) 1,872 169 Taxes in recovery process 22,120 126,292 Total 637,033 224,914 (b) Non-current Non-current tax assets As of As of ThUS$ ThUS$ Non current tax receivable (see note 20.3) 59,541 127,114 Total 59,541 127,114 (1) These credits are available for companies and are related to corporate tax payments in April of the following year. These credits include, among others, credits for training expenses (SENCE), credits for acquisition of fixed assets, donations and credits in Chile for taxes paid abroad. (2) This concept corresponds to the tax loss absorptions determined by the company at the end of the year, which must be attributed to the dividends received during the year. 25.2 Current tax liabilities Current tax liabilities As of As of ThUS$ ThUS$ Chilean income tax 636 337,245 Specific mining tax to lithium mining (see note 20.3) 162,743 — Foreign company income tax 20,254 19,366 Total 183,633 356,611 Income tax is calculated based on the income statements or loss for tax purposes that is applied to the effective tax rate applicable in Chile. As established by Law No. 20,780 is 27%. The royalty is determined by applying the taxable rate to the net operating income obtained, according to the chart in force. The Company currently provisioned 5.49% for mining royalties that involve operations in the Salar de Atacama and 5.00% for caliche extraction operations. The income tax rate for the main countries where the Company operates is presented below: Country Income tax Income tax Spain 25 % 25 % Belgium 25 % 25 % Mexico 30 % 30 % United States 21% +3% 21% + 3.51% South Africa 27 % 28 % South Korea 24 % (2) 25 % China 25%+12% (1) 25%+12% (1) (1) Additional tax of 12% on VAT payable. (2) Sliding scale from 9% to 24% of taxable income. 25.3 Income tax and deferred taxes (a) Deferred tax assets and liabilities as of December 31, 2023 Net liability position Description of deferred tax assets and liabilities as of December 31, 2023 Assets Liabilities ThUS$ ThUS$ Unrealized loss 321,340 — Property, plant and equipment and capitalized interest (1) — (240,056) Restoration and rehabilitation provision 6,336 — Manufacturing expenses — (159,879) Employee benefits and unemployment insurance — (9,438) Vacation accrual 9,373 — Inventory provision 34,718 — Materials provision 14,405 — Others employee benefits 6,561 — Research and development expenses — (16,046) Bad debt provision 3,060 — Provision for legal complaints and expenses 2,932 — Loan acquisition expenses — (12,735) Financial instruments recorded at market value — (52,016) Specific tax on mining activity — (3,303) Tax loss benefit 23,340 — Other — (21,119) Foreign items (other) 75 — Balances to date 422,140 (514,592) Net balance (92,452) (1) This includes right-of-use assets. (b) Deferred tax assets and liabilities as of December 31, 2022 Net liability position Description of deferred tax assets and liabilities as of December 31, 2022 Assets Liabilities ThUS$ ThUS$ Unrealized loss 655,695 — Property, plant and equipment and capitalized interest (1) — (244,560) Restoration and rehabilitation provision 4,685 — Manufacturing expenses — (139,383) Employee benefits and unemployment insurance — (8,995) Vacation accrual 7,650 — Inventory provision 27,512 — Materials provision 11,915 — Others employee benefits 1,177 — Research and development expenses — (12,294) Bad debt provision 715 — Provision for legal complaints and expenses 6,827 — Loan acquisition expenses — (8,793) Financial instruments recorded at market value 5,226 — Specific tax on mining activity — (5,799) Tax loss benefit 10,059 — Other 2,913 — Foreign items (other) 96 — Balances to date 734,470 (419,824) Net balance 314,646 (1) This item includes right-of-use assets. Deferred tax assets and liabilities in the consolidated statement of financial position as of December 31, 2023 and 2022, are as follows: Movements of deferred tax assets and liabilities As of As of ThUS$ ThUS$ Deferred tax assets 302,236 604,471 Deferred tax liabilities (394,688) (289,825) Total (92,452) 314,646 (c) Reconciliation of changes in deferred tax (liabilities) assets as of December 31, 2023 Reconciliation of changes in deferred tax assets (liabilities) in deferred tax as of December 31, 2023 Deferred tax Deferred tax Deferred taxes Total change in deferred taxes Deferred tax ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Unrealized loss 655,695 (334,355) — (334,355) 321,340 Property, plant and equipment and capitalized interest (244,560) 4,504 — 4,504 (240,056) Restoration and rehabilitation provision 4,685 1,651 — 1,651 6,336 Manufacturing expenses (139,383) (20,496) — (20,496) (159,879) Employee benefits and unemployment insurance (8,995) (2,020) 1,577 (443) (9,438) Vacation accrual 7,650 1,723 — 1,723 9,373 Inventory provision 27,512 7,206 — 7,206 34,718 Materials provision 11,915 2,490 — 2,490 14,405 Derivative financial instruments — 5,047 (5,047) — — Others employee benefits 1,177 5,384 — 5,384 6,561 Research and development expenses (12,294) (3,752) — (3,752) (16,046) Bad debt provision 715 2,345 — 2,345 3,060 Provision for legal complaints and expenses 6,827 (3,895) — (3,895) 2,932 Loan approval expenses (8,793) (3,942) — (3,942) (12,735) Financial instruments recorded at market value 5,226 — (57,242) (57,242) (52,016) Specific tax on mining activity (5,799) 2,491 5 2,496 (3,303) Tax loss benefit 10,059 13,281 — 13,281 23,340 Others 2,913 (24,032) — (24,032) (21,119) Foreign items (other) 96 (21) — (21) 75 Total temporary differences, unused losses and unused tax credits 314,646 (346,391) (60,707) (407,098) (92,452) (d) Reconciliation of changes in deferred tax (liabilities) assets as of December 31, 2022 Reconciliation of changes in deferred tax assets (liabilities) in deferred tax as of December 31, 2022 Deferred tax Deferred tax Deferred taxes Total change in deferred taxes Deferred tax ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Unrealized loss 144,181 511,514 — 511,514 655,695 Property, plant and equipment and capitalized interest (189,073) (55,487) — (55,487) (244,560) Restoration and rehabilitation provision 6,567 (1,882) — (1,882) 4,685 Manufacturing expenses (108,181) (31,202) — (31,202) (139,383) Employee benefits and unemployment insurance (7,486) (2,779) 1,270 (1,509) (8,995) Vacation accrual 6,039 1,611 — 1,611 7,650 Inventory provision 20,557 6,955 — 6,955 27,512 Materials provision 10,554 1,361 — 1,361 11,915 Derivative financial instruments — 7,172 (7,172) — — Others employee benefits 929 248 — 248 1,177 Research and development expenses (5,387) (6,907) — (6,907) (12,294) Bad debt provision 2,708 (1,993) — (1,993) 715 Provision for legal complaints and expenses 334 6,493 — 6,493 6,827 Loan approval expenses (8,967) 174 — 174 (8,793) Financial instruments recorded at market value 5,243 — (17) (17) 5,226 Specific tax on mining activity (4,545) (1,257) 3 (1,254) (5,799) Tax loss benefit 8,557 1,502 — 1,502 10,059 Others (4,274) 7,187 — 7,187 2,913 Foreign items (other) 11,828 (11,732) — (11,732) 96 Total temporary differences, unused losses and unused tax credits (110,416) 430,978 (5,916) 425,062 314,646 (e) Deferred taxes related to benefits for tax losses The Company’s tax loss carryforwards were mainly generated by losses in Chile, which in accordance with current Chilean tax regulations have no expiration date. As of December 31, 2023, and 2022, tax loss carryforwards are detailed as follows: Deferred taxes related to benefits for tax losses As of As of ThUS$ ThUS$ Chile 16,087 10,059 Foreign 7,253 — Total 23,340 10,059 The tax losses as of December 31, 2023, which are the basis for these deferred taxes correspond mainly to Servicios Integrales de Tránsitos y Transferencias S.A., SQM Potasio S.A., Comercial Hydro S.A., Orcoma SpA., Orcoma Estudio SpA, SCM Búfalo, SQM North América Corp., SQM Holland B.V., SQM Colombia., SQM Australia Pty Ltd. (f) Movements in deferred tax assets and liabilities Movements in deferred tax assets and liabilities as of December 31, 2023 and 2022 are detailed as follows: Assets (liabilities) Movements in deferred tax assets and liabilities As of As of ThUS$ ThUS$ Deferred tax assets and liabilities, net opening balance 314,646 (110,416) Increase (decrease) in deferred taxes in income (346,391) 430,978 Increase (decrease) deferred taxes in equity (60,707) (5,916) Total (92,452) 314,646 (g) Disclosures on income tax (expenses) benefits Current and deferred tax (expenses) benefits are detailed as follows: (Expense) Income Disclosures on income tax (expense) benefit As of As of As of ThUS$ ThUS$ ThUS$ Current income tax (expense) benefit Current tax expense (1) (1,533,809) (2,002,564) (279,105) Adjustments to prior year current income tax (expense) benefit 3,449 (626) 2,326 Current income tax expense, net, total (1,530,360) (2,003,190) (276,779) Deferred tax (expense) benefit Deferred tax benefits relating to the creation and reversal of temporary differences (342,363) 427,680 28,445 Tax adjustments related to the creation and reversal of temporary differences from the previous year (4,028) 3,298 (682) Total deferred tax benefits, net (346,391) 430,978 27,763 Income tax expense (1,876,751) (1,572,212) (249,016) (1) Includes a tax expense adjustment amounting US$1,089.5 million for the year ended December 31, 2023 relating to the specific mining tax to lithium mining claims (see note 20.3). Income tax (expenses) benefit for foreign and domestic parties are detailed as follows: (Expense) Income Income tax (expense) benefit As of As of As of ThUS$ ThUS$ ThUS$ Current income tax benefit (expense) by foreign and domestic parties, net Current income tax (expenses), foreign parties, net (120,893) (213,060) (46,748) Current income tax (expenses), domestic, net (1) (1,409,467) (1,790,130) (230,031) Current income tax expense, net, total (1,530,360) (2,003,190) (276,779) Deferred tax benefit (expense) by foreign and domestic parties, net Current income tax (expense) benefit, foreign parties, net (34,014) (21,338) (6,679) Current income tax (expense) benefits, domestic, net (312,377) 452,316 34,442 Deferred tax expense, net, total (346,391) 430,978 27,763 Income tax expense (1,876,751) (1,572,212) (249,016) (1) Includes a tax expense adjustment amounting US$1,089.5 million for the year ended December 31, 2023 relating to the specific mining tax to lithium mining claims (see note 20.3). ________________________________________________ (h) Disclosures on the tax effects of other comprehensive income components: As of December 31, 2023 Income tax related to other income and expense components with a charge or credit to net equity Amount before taxes (Expense) income for Amount after taxes ThUS$ ThUS$ ThUS$ (Losses) income from defined benefit plans (5,843) 1,582 (4,261) Cash flow hedges 18,692 (5,047) 13,645 Reserve for (losses) income from financial assets measured at fair value through other comprehensive income 190,509 (57,242) 133,267 Total 203,358 (60,707) 142,651 As of December 31, 2022 Income tax related to other income and expense components with a charge or credit to net equity Amount before taxes (Expense) income for Amount after taxes ThUS$ ThUS$ ThUS$ (Losses) income from defined benefit plans (6,350) 1,273 (5,077) Cash flow hedges 26,622 (7,172) 19,450 Reserve for (losses) income from financial assets measured at fair value through other comprehensive income 190 (17) 173 Total 20,462 (5,916) 14,546 As of December 31, 2021 Income tax related to other income and expense components with a charge or credit to net equity Amount before taxes (Expense) income for Amount after taxes ThUS$ ThUS$ ThUS$ Income (losses) from defined benefit plans 4,679 (142) 4,537 Cash flow hedges (52,762) 14,246 (38,516) Reserve for income (losses) from financial assets measured at fair value through other comprehensive income (12,072) 3,818 (8,254) Total (60,155) 17,922 (42,233) ________________________________________________ (i) Explanation of the relationship between (expense) benefit for tax purposes and accounting income. Based on IAS 12, paragraph 81, letter “c”, the company has estimated that the method that discloses the most significant information for users of the financial statements is the numeric conciliation between the tax benefit (expense) and the result of multiplying the consolidated income before taxes by the current rate in Chile. The aforementioned choice is based on the fact that the Company and subsidiaries established in Chile generate a large part of the Company’s tax benefit (expense). The amounts provided by subsidiaries established outside Chile have no relative importance in the overall context. Reconciliation between the tax expense and the tax calculated by multiplying income before taxes by the Chilean corporate income tax rate. (Expense) Benefit Income Tax (Expense) Benefit As of As of As of ThUS$ ThUS$ ThUS$ Consolidated income before taxes 2,807,018 5,486,496 841,221 Statutory income tax rate in Chile 27 % 27 % 27 % Tax expense using the statutory tax rate (757,895) (1,481,354) (227,130) Net effect of royalty tax payments (6,889) (57,500) (13,350) Specific mining tax to lithium mining claims (see note 20.3) (1,089,476) — — Tax effect of income from regular activities exempt from taxation and dividends from abroad (1,457) 3,490 (260) Tax rate effect of non-tax-deductible expenses for determining taxable profit (loss) 3,509 (11,058) (2,226) Effect due to the difference in tax rates related to abroad subsidiaries (24,748) (25,053) (5,622) Other tax effects of reconciliation of accounting income to tax expense 205 (737) (428) Tax expense using the effective tax rate (1,876,751) (1,572,212) (249,016) (j) Tax periods potentially subject to verification: The Group’s Companies are potentially subject to income tax audits by tax authorities in each country These audits are limited to a number of interim tax periods, which, in general, when they elapse, give rise to the expiration of these inspections. Tax audits, due to their nature, are often complex and may require several years. Below, we provide a summary of tax periods that are potentially subject to verification, in accordance with the tax regulations in force in the country of origin: (i) Chile According to article 200 of Decree Law No 830, the taxes will be reviewed for any deficiencies in terms of payment and to generate any taxes that might arise. There is a 3-year prescriptive period for such review, dating from the expiration of the legal deadline when payment should have been made. This prescriptive period can be extended to 6 years for the revision of taxes subject to declaration, when such declaration has not been filed or has been presented with maliciously false information. (ii) United States In the United States, the tax authority may review tax returns for up to 3 years from the expiration date of the tax return. In the event that an omission or error is detected in the tax return of sales or cost of sales, the review can be extended for a period of up to 6 years. (iii) Mexico: In Mexico, the tax authority can review tax returns up to 5 years from the expiration date of the tax return. (iv) Spain: In Spain, the tax authority can review tax returns up to 4 years from the expiration date of the tax return. (v) Belgium: In Belgium, the tax authority may review tax returns for up to 3 years from the expiration date of the tax return if no tax losses exist. In the event of detecting an omission or error in the tax return, the review can be extended for a period of up to 5 years. (vi) South Africa: In South Africa, the tax authority may review tax returns for up to 3 years from the expiration date of the tax return. In the event that an omission or error in the tax return is detected, the review can be extended for a period of up to 5 years. (vii) China: Tax returns up to 3 years old from the due date of the return can be reviewed, in special circumstances this can be extended to 5 years. When tax evasion or fraud is involved, the tax authorities will pursue the collection of tax and there is no time limit. (viii) South Korea: Tax returns up to 5 years old from the due date of the return can be reviewed, but this can be extended to 7 years for cross-border transactions. Failure to file the tax return on the legal due date will result in this deadline being extended by up to 5 years and 10 years for cross-border transactions. When tax evasion or fraud is involved, it will be extended by up to 10 years and 15 years for cross-border transactions. |
Events occurred after the repor
Events occurred after the reporting date | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of non-adjusting events after reporting period [abstract] | |
Events occurred after the reporting date | Events occurred after the reporting date 26.1 Authorization of the financial statements The consolidated financial statements of the Company and its subsidiaries, prepared in accordance with IFRS as issued by the IASB for the year ended December 31, 2023, were approved and authorized for issuance by the Company´s Board of Directors on April 29, 2024. 26.2 Disclosures on events occurring after the reporting date (a) On January 13, 2024, the Company reported the stoppage of operations at the Salar de Atacama mine. (b) On January 15, 2024, the Company reported that operations were resumed at the Salar de Atacama mine. (c) On February 28, 2024, the Company reported that its Board of Directors agreed (a) to call an annual general meeting of shareholders for April 25, 2024, and (b) to call an extraordinary meeting of shareholders for Thursday, March 21, 2024, to report on (i) the status of negotiations between the Company and Codelco, as described in the Memorandum of Understanding reported as a Material Event on December 27, 2023, (ii) the measures and contracts that are expected as a result of this Memorandum of Understanding, and (iii) any other associated issues. (d) Regarding the tax contingencies disclosed in Note 20.3, on April 5, 2024, the Santiago Court of Appeal issued a ruling in one of the Claims, the tax role case No. 312-2022, and revoked the ruling that had previously been handed down by the Tax and Customs Court of the Metropolitan Region, which upheld the public law annulment action filed by SQM Salar, corresponding to settlements for the 2017 and 2018 tax years. Although the ruling of the Santiago Court of Appeal does not affect all other Claims, filed by the SQM Salar against the Chilean IRS, and is still subject to appeal by SQM Salar, it prompted the review of the accounting treatment for the tax claims by the Company's Board of Directors. Consequently, the Company recognized a tax expense adjustment amounting US$1,089.5 million for the year ended December 31, 2023, which corresponds to the impact that the interpretation of the Santiago Court of Appeal ruling could have on the Claims. The effect of the review of the accounting treatment did not have a significant impact on the Company's cash flows, since the amount of US$986.2 million had been fully paid by the Company into the Chilean IRS. The Company maintains its firm position regarding the erroneous application of the specific tax on mining activity to the exploitation of lithium, a substance that is not concessionable by law in Chile, which had been recognized by the Chilean IRS itself in the past, as well as by the executive, legislative and judicial powers in Chile. SQM Salar will continue to actively defend its position in the tax claims. (e) On April 10, 2024, Inversiones TLC SpA, an owner of more than 10% of the SQM’s outstanding shares with voting rights, requested to summon a new extraordinary shareholder meeting to discuss and vote on the transaction contemplated in the Memorandum of Understanding signed by SQM and the National Copper Corporation (“Codelco”) dated December 27, 2023, and modified on March 20, 2024 (the “Memorandum”). The Company’s Board of Directors agreed to summon an extraordinary shareholder meeting for 10:00 a.m. (Chile time) on Wednesday, April 24, 2024 (the “Meeting”), to discuss the transaction contemplated in the Memorandum, in particular: a. Management report on the status of negotiations between SQM and Codelco, particularly, whether the parties have reached agreement on the terms and conditions of the contracts that are being negotiated pursuant to the conditions set in the Memorandum, including those that were mentioned at the extraordinary shareholder meeting held on March 21, 2024. b. Management presentation on the merits, opportunities, advantages, disadvantages and risks that the partnership with Codelco could form for SQM, as well as questions and comments from the shareholders. The viewpoints expressed by shareholders shall not possess binding authority upon the management of the Company, nor shall they discharge management from its responsibilities. c. Discussion on the legal structure under which the partnership with Codelco would be executed, according to the status of the negotiations on the date of the Meeting, and the steps and legal requirements for its approval in accordance with the regulations of the Chilean Corporations Law and the by-laws of SQM. Without prejudice to the request of the shareholder Inversiones TLC SpA to summon a shareholder meeting to discuss the matters indicated in letters (a), (b) and (c) above, the Company’s Board of Directors agreed not to submit to shareholders the voting of the approval of the partnership with Codelco, given that: (1) up to the current date, there is neither a partnership agreement nor a final legal structure on the transaction with Codelco to be approved; and (2) should the partnership with Codelco ultimately conforms to the terms previously consulted upon with the Chilean Financial Market Commission ( Comisión para el Mercado Financiero ), it would be appropriate to approve such transaction by the Company’s Board of Directors and not by the shareholders, as dictated by the Chilean Financial Market Commission in the Official Letter No. 27,980 dated February 29, 2024. (f) On December 18, 2023, together with Hancock Prospecting Pty ("Hancock"), the owner of approximately 18.4% of Azure's shares, we entered into a transaction implementation deed to acquire all outstanding shares of Azure by way of a joint scheme of arrangement for a cash price of A$3.70 per share, and a simultaneous conditional joint off-market takeover bid for a cash price of A$3.65 per share. On April 8, 2024, the Azure's shareholders approved the proposed acquisition of all outstanding shares of Azure by way of scheme of arrangement. The scheme is pending approval by the Australian Foreign Investment Review Board (FIRB) and the Australian Court and will be implemented shortly after all the approvals have been received. (g) On March 28, 2024, the Board of Directors, agreed to recommend to the shareholders the payment of a final dividend. The dividend payment was presented for consideration and approved at the Annual General Shareholders’ Meeting held on April 25, 2024. The amount of the final dividend approved by shareholders was US$2.11386 per share. The amounts of the interim dividends previously distributed during 2023 equivalent to US$1.90047 per share were deducted from the amount of the final dividend, leaving a balance equivalent to US$0.21339 to be paid and distributed on May 16, 2024. (h) On April 25, 2024, the Company held its 49th Annual General Shareholders’ Meeting during which several items were approved, including: (a) Approval of the Company’s annual report, the statutory financial statements and the external auditors’ report for the year ended December 31, 2023. (b) Appointment of PricewaterhouseCoopers Consultores, Auditores SpA as the Company’s external auditors for the period January 1 through December 31, 2024. (c) Approval of the distribution of a final dividend as recommended by the Board of Directors and communicated as an essential fact (hecho esencial) on March 28, 2024. (d) Election of the Board of Directors, with the following members: Gina Ocqueteau Tacchini, Antonio Gil Nievas, Gonzalo Guerrero Yamamoto, Patricio Contesse Fica, Ashely Luke Ozols, Hernán Büchi Buc, Georges de Bourguignon Arndt and Xu Tieying, with Mrs. Ocqueteau and Mr. Gil as independent directors. (e) Approval of the remuneration structure for the Board members, and the members of the Board committees, and their expenses. In an extraordinary Board meeting on the same day, the Board agreed to appoint Mr. Gonzalo Guerrero as Chairman of the Board and Mr. Patricio Contesse as Vice Chairman of the Board. The composition of the Board’s committees was also agreed upon at the meeting, as follows: (a) Directors’ Committee: Gina Ocqueteau, Antonio Gil and Hernán Büchi; (b) Corporate Governance Committee: Patricio Contesse, Hernán Büchi and Xu Tieying; (c) Safety, Health and Environment Committee: Georges de Bourguignon, Patricio Contesse and Gonzalo Guerrero. Management is not aware of any other significant events that occurred between December 31, 2023, and the date of issuance of these consolidated financial statements that may significantly affect them. |
Significant accounting polici_2
Significant accounting policies (Policies) | 12 Months Ended |
Dec. 31, 2023 | |
Significant Accounting Policies | |
Schedule of mandatory interpretations and amendments | Amendments and improvements Description Mandatory for annual periods Amendment to IAS 12 – Deferred taxes related to assets and liabilities that arise from a single transaction. These amendments require companies to recognize deferred taxes on transactions that result in equal amounts in taxable and deductible temporary differences in the initial recognition. 01-01-2023 Amendment to IAS 12 "Income Taxes" on International Tax Reform - Pillar Two Model Rules. This amendment provides companies with a temporary exemption from accounting for deferred taxes arising from the Organization for Economic Cooperation and Development (OECD) international tax reform. The amendments also introduce specific disclosure requirements for affected companies. 01-01-2023 |
Schedule of interpretations and amendments issued, but not effective | Standards and Interpretations Description Mandatory for annual periods Amendments to IAS 1 "Presentation of Financial Statements" about the classification of liabilities. This amendment clarifies that liabilities are classified as either current or non-current, depending on their rights as of the reporting date. The classification is not affected by the expectations of the entity or events after the reporting date. For example, the receipt of a waiver or non-compliance with an agreement. The amendment also clarifies what IAS 1 means when it refers to the “settlement" of a liability. The amendment should be applied retrospectively in accordance with IAS 8. 01-01-2024 Amendment to IAS 1 “Non-current liabilities with covenants”. The amendment is aimed at improving the information that an entity provides when the payment terms of its liabilities can be deferred depending on compliance with covenants within the twelve months following the date of issue of the financial statements. 01-01-2024 Amendments to IFRS 16 “Leases” On sales with leaseback, which explains how an entity should recognize the rights to use the asset and how the gains or losses from the sale and leaseback should be recognized in the financial statements. 01-01-2024 Amendments to IAS 7 "Statement of Cash Flows" and IFRS 7 "Financial Instruments: Disclosures" on supplier financing arrangements. These amendments require disclosures that improve the transparency of supplier financing arrangements and their effects on a company's liabilities, cash flows and exposure to liquidity risk. 01-01-2024 Amendments to IAS 21 - Lack of exchangeability. This amendment affects an entity that has a transaction in a foreign currency that cannot be exchanged with another currency for a specific purpose as of the measurement date. One currency is exchangeable into another when the other currency can be obtained with a normal administrative delay, and the transaction is performed using a market or exchange mechanism that creates enforceable rights and obligations. This amendment contains instructions regarding the exchange rate to be used when the currency is not exchangeable, as previously described. Early adoption is permitted. 01-01-2025 |
Classification of balances as current and non-current | 3.1 Classification of balances as current and non-current In the consolidated statement of financial position, balances are classified in consideration of their recovery maturity dates; i.e., those maturing within a period equal to or less than 12 months are classified as current counted from the closing date of the consolidated financial statements and those with maturity dates exceeding the aforementioned period are classified as non-current. The exception to the foregoing relates to deferred taxes, which are classified as non-current, regardless of the maturity they have. |
Functional and presentation currency | 3.2 Functional and presentation currency The Company’s consolidated financial statements are presented in United States dollars, without decimal places, which is the Company’s functional and presentation currency and is the currency of the main economic environment in which it operates. Consequently, the term foreign currency is defined as any currency other than the U.S. dollar. |
Accounting policy for foreign currency translation | 3.3 Accounting policy for foreign currency translation (a) SQM group entities: The revenue, expenses, assets and liabilities of all entities that have a functional currency other than the presentation currency are converted to the presentation currency as follows: - Assets and liabilities are converted at the closing exchange rate prevailing on the reporting date. - Revenues and expenses of each statement of income account are converted at monthly average exchange rates. - All resulting foreign currency translation gains and losses are recognized as a separate component in translation reserves. In consolidation, foreign currency differences arising from the translation of a net investment in foreign entities are recorded in shareholder’s equity (“foreign currency translation reserve”). At the date of disposal, such foreign currency translation differences are recognized in the statement of income as part of the gain or loss from the sale. The main exchange rates and UF used to translate monetary assets and liabilities, expressed in foreign currency at the end and average of each period in respect to U.S. dollars, are as follows: Closing exchange rates Average exchange rates Currencies As of As of As of As of ThUS$ ThUS$ ThUS$ ThUS$ Brazilian real 4.85 5.28 4.90 5.25 New Peruvian sol 3.70 3.81 3.73 3.83 Japanese yen 140.90 131.32 143.94 134.70 Euro 0.90 0.93 0.92 0.94 Mexican peso 16.92 19.50 17.18 19.60 Australian dollar 1.46 1.47 1.49 1.48 Pound Sterling 0.78 0.83 0.79 0.82 South African rand 18.27 17.01 18.61 17.28 Chilean peso 877.12 855.86 875.06 873.81 Chinese yuan 7.12 6.92 7.15 6.98 Indian rupee 83.21 82.73 83.26 82.52 Thai Baht 34.36 34.64 34.95 34.76 Turkish lira 29.52 18.71 29.09 18.66 Korean Won 1,290.70 1,259.98 1,304.17 1,291.64 Indonesian Rupiah 15,399.00 15,570.00 15,502.63 15,596.90 United Arab Emirates dirham 3.67 3.67 3.67 3.67 Polish Zloty 3.93 4.37 3.97 4.42 UF (*) 41.94 41.02 42.04 40.18 ________________________________________________ (*) US$ per UF (b) Transactions and balances The Company’s non-monetary transactions in currencies other than the functional currency (Dollar) are translated to the respective functional currencies of Group entities at the exchange rate on the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the reporting date are retranslated to the functional currency at the exchange rate at that date. All differences are recorded in the statement of income except for all monetary items that provide an effective hedge for a net investment in a foreign operation. These items are recognized in other comprehensive income until disposal of the investment, when they are recognized in the statement of income. Charges and credits attributable to foreign currency translation differences on those hedge monetary items are also recognized in other comprehensive income. Non-monetary assets and liabilities that are measured at historical cost in a foreign currency are retranslated to the functional currency at the historical exchange rate of the transaction. Non-monetary items that are measured based on fair value in a foreign currency are translated using the exchange rate at the date on which the fair value is determined. |
Consolidated statement of cash flows | 3.4 Consolidated statement of cash flows Cash equivalents correspond to highly liquid short-term investments that are easily convertible into known amounts of cash and subject to insignificant risk of changes in their value and mature in less than three months from the date of acquisition of the instrument. For the purposes of the statement of cash flows, cash and cash equivalents comprise cash and cash equivalents as defined above. The statement of cash flows present cash transactions performed during the period, determined using the direct method. Other (outflows) inflows of cash from operating activities is composed as follows: For the year ended December 31, December 31, December 31, Banking expenses (15,603) (3,783) (1,921) Tax credits (3,353) (3,474) (2,403) Government grants 24,387 — — Value added tax (298,076) 120,283 80,503 Cost of bond issuance (18,346) (2,566) (16,570) (310,991) 110,460 59,609 |
Financial assets accounting policy | 3.5 Financial assets accounting policy Management determines the classification of its financial assets at fair value (either through other comprehensive income, or through profit or loss), and at amortized cost. The classification depends on the business model of the entity to manage the financial assets and the contractual terms of the cash flows. The initial value of the Company's financial assets valued at fair value through other comprehensive income includes the transaction costs that are directly attributable to acquiring that financial asset on the date the Company commits to acquiring it, whereas the transaction costs for financial assets valued at fair value through profit or loss are expensed. The initial value of trade and other receivables that do not include a significant financial component is their transaction price. After initial recognition, the Company measures its financial assets according to the Company’s business model for managing its financial assets and the contractual terms of its cash flows: (a) Financial debt instruments measured at amortized cost. Financial assets that meet the following conditions are included in this category (i) the business model that supports it aims to maintain the financial assets to obtain the contractual cash flows and (ii) the contractual conditions of the financial asset give place, on specified dates, to cash flows that are only payments of the principal and interest on the outstanding principal amount. The Company’s financial assets that meet these conditions are: (i) cash equivalents; (ii) related party receivables; (iii) trade debtors; (iv) other receivables. (b) Financial instruments at fair value. A financial asset should be measured at fair value through income or fair value through other comprehensive income, depending on the following: (i) "Fair value through other comprehensive income": Assets held to collect contractual cash flows and to be sold, where the asset cash flows are only capital and interest payments, are measured at fair value through other comprehensive income. Changes in book values are through other comprehensive income, except for the recognition of impairment losses, interest income and exchange gains and losses, which are recognized in the income statement. When a financial asset is derecognized, the cumulative gain or loss previously recognized in other comprehensive income is reclassified from equity to the income statement. Interest income from these financial assets is included in financial income using the effective interest method. (ii) "Fair value through profit or loss": Assets that do not meet the amortized cost or "Fair value through other comprehensive income" criteria are valued at "Fair value through income". (c) Financial equity instruments at fair value through other comprehensive income. Equity instruments that are not classified as held for trading and which the Group has irrevocably chosen to recognize in this category from its initial recognition to the reporting date. Amounts presented in other comprehensive income will not be subsequently transferred to the statement of income. |
Financial assets impairment | 3.6 Financial assets impairment The Company evaluates expected credit losses associated with its debt instruments carried at amortized cost and fair value through other comprehensive income. The impairment method used depends on whether there has been a significant increase in credit risk. The Company assumes that the credit risk of a financial asset has increased significantly when it is more than 30 days past due. It is in default when the financial asset is more than 90 days past due and an individual analysis has concluded that it has a negative credit impairment. – Significant financial hardship – Breach of contract due to default – Probability of going bankrupt The Company assesses the credit impairment of its receivables as of each reporting date. A financial asset has credit impairment when one or more events have a negative impact on the expected cash flows from it. Evidence of credit impairment for a debtor is as follows: The Company applies the simplified approach to measure expected credit losses using the lifetime expected loss on all trade receivables. Expected credit losses are measured by grouping receivables by their shared credit risk characteristics and days overdue. The Company has concluded that the expected loss rates for trade receivables are a reasonable approximation of the loss rates for these assets. Expected loss rates are based on sales payment profiles and historical credit losses within this period. Historical loss rates are adjusted to reflect current expectations and information regarding macroeconomic factors that affect the ability of customers to meet their commitments. Impairment losses from receivables and contract assets are shown as net impairment losses in the line “Impairment of financial assets and reversal of impairment losses,” see Note 21.7. Any subsequent recoveries of financial assets previously charged off are credited to the same line. |
Financial liabilities | 3.7 Financial liabilities Management accounts for its financial liabilities at amortized cost. Upon initial recognition, the Company measures its financial liabilities by their fair value less the transaction costs that are directly attributable to the acquisition of the financial liability. The Company subsequently measures its financial liabilities at amortized cost. Financial liabilities measured at amortized cost are commercial accounts payable and other accounts payable and other financial liabilities. Amortized cost is based using the effective interest rate method. Amortized cost is calculated by considering any premium or discount on the acquisition and includes transaction costs that are an integral part of the effective interest rate. |
Estimated fair value of financial instruments | 3.8 Estimated fair value of financial instruments The fair value of financial assets and liabilities is estimated using the following information. Although the data represent Management's best estimates, it is subjective and involves significant estimates regarding current economic conditions, market conditions and risk characteristics. Methodologies and assumptions used depend on the risk terms and characteristics of instruments and include the following as a summary: Fair value estimation Financial assets and liabilities measured at fair value consist of forwards hedging the mismatch in the balance sheet and cash flows, options hedging the mismatch in the balance sheet and cross currency swaps to hedge bonds issued in local currency (Peso/UF). The fair value of the Company’s assets and liabilities recognized by cross currency swaps contracts is calculated as the difference between the present value of discounted cash flows of the asset (Peso/UF) and liability (Dollar) parts of the derivative. In the case of the IRS, the asset value recognized is calculated as the difference between the discounted cash flows of the asset (variable rate) and liability (fixed rate) parts of the derivative. Forwards are calculated as the difference between the strike price of the contract and the spot price plus the forwards points at the date of the contract. Financial options: the value recognized is calculated using the Black-Scholes method. In the case of CCS, the entry data used for the valuation models are UF, Peso, Dollar and basis swap rates. In the case of fair value calculations for interest rate swaps, the Forward Rate Agreement rate and ICVS 23 Curve (Bloomberg: cash/deposits rates, futures, swaps). In the case of forwards, the forwards curve for the currency in question is used. Finally, for options, the spot price, risk-free rate and volatility of exchange rate are used, all in accordance with the currencies used in each valuation. The financial information used as entry data for the Company’s valuation models is obtained from Bloomberg, the well-known financial software company. Conversely, the fair value provided by the counterparties of derivatives contracts is used only as a control and not for valuation purposes. Fair value estimates for disclosure purposes • Cash equivalent approximates fair value due to the short-term maturities of these instruments. • Fair value of current trade receivables is considered to be equal to the carrying amount due to the maturity of such accounts at short-term. • Payables, current lease liabilities and other current financial liabilities’s fair value equal to book value due to the short-term maturity of these accounts. • The fair value of the debt (long-term secured and unsecured debentures; bonds denominated in local currency (Peso/UF) and foreign currency (Dollar), borrowings denominated in foreign currency (Dollar) of the Company are calculated at current value of cash flows subtracted from market rates upon valuation, considering the terms of maturity and exchange rates. The UF and Peso rate curves are used as inputs for the valuation model. This information is obtained through from the renowned financial software company, Bloomberg, and the Chilean Association of Banks and Financial Institutions. |
Reclassification of financial instruments | 3.9 Reclassification of financial instruments When the Company changes its business model for managing financial assets, it will reclassify all its financial assets affected by the new business model. Financial liabilities cannot be reclassified. |
Financial instruments derecognition | 3.10 Financial instruments derecognition The Company derecognizes a financial asset when the contractual rights to the cash flows from the asset expire, or it transfers the rights to receive the contractual cash flows in a transaction in which substantially all the risks and rewards of ownership of the financial asset are transferred; and the control of the financial assets has not been retained. The Company derecognizes a financial liability when its contractual obligations or a part of these are discharged, paid to the creditor or legally extinguished from the principle responsibility contained in the liability. |
Derivative and hedging financial instruments | 3.11 Derivative and hedging financial instruments Derivative financial instruments are recognized initially at fair value as of the date on which the derivatives contract is signed and, they are subsequently assessed at fair value. The method for recognizing the resulting gain or loss depends on whether the derivative has been designated as an accounting hedge instrument and, if so, it depends on the type of hedging, which may be as follows: a) Fair value hedge of assets and liabilities recognized (fair value hedges). b) Hedging of a single risk associated with a recognized asset or liability or a highly probable forecast transaction (cash flow hedge). At the beginning of the transaction, the Company documents the relationship that exists between hedging instruments and hedged items, as well as their objectives for risk management purposes and strategy to conduct the different hedging operations. The Company also documents its evaluation both at the beginning and at the end of each period if the derivatives used in hedging transactions are highly effective to offset changes in the fair value or in cash flows of hedged items. The fair value of derivative instruments used for hedging purposes is shown in Note 12.3. Derivatives that are not designated or do not qualify as hedging derivatives are classified as current assets or liabilities, and changes in the fair value are directly recognized through income. a) Fair value hedge Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recorded in the statement of income, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk. The gain or loss relating to the effective portion of interest rate swaps that hedge fixed rate borrowings is recognized in the statement of income within finance costs, together with changes in the fair value of the hedged fixed rate borrowings attributable to interest rate risk. The gain or loss relating to the ineffective portion is recognized in income within other income or other expenses captions. If the hedge no longer meets the criteria for hedge accounting, the adjustment to the carrying amount of a hedged item for which the effective interest method is used is amortized to income over the period to maturity using a recalculated effective interest rate. b) Cash flow hedges The effective portion of the gain or loss on the hedging instrument is initially recognized with a debit or credit to other comprehensive income, while any ineffective portion is immediately recognized to income, as appropriate, depending on the nature of the hedged risk. The amounts accumulated in other comprehensive income are carried over to results when the hedged items are settled or when these have an impact on income. When a hedging instrument no longer meets the criteria for hedge accounting, any cumulative deferred gain or loss and deferred costs of hedging in equity at that time remains in equity until the forecast transaction occurs. |
Derivative financial instruments not considered as hedges | 3.12 Derivative financial instruments not considered as hedges Derivative financial instruments not considered as hedges are recognized at fair value with the effect in the statement of income for the year. The Company has derivative financial instruments to hedge foreign currency risk exposure. The Company continually evaluates the existence of embedded derivatives in both its contracts and in its financial instruments. As of December 31, 2023, and 2022, the Company does not have any embedded derivatives. |
Deferred acquisition cost from insurance contracts | 3.13 Deferred acquisition cost from insurance contracts Acquisition costs from insurance contracts are classified as prepayments and correspond to insurance contracts in force, recognized using the straight-line method and on an accrual basis independent of payment date. These are recognized under other non-financial assets current. |
Leases | 3.14 Leases (a) Right-of-use assets The Company recognizes right-of-use assets on the initial lease date (i.e., the date on which the underlying asset is available for use). Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, adjusted by any new measurement of the lease liability. The cost of right-of-use assets includes the amount of recognized lease liabilities, direct initial costs incurred and lease payments made on the start date or sooner, less the lease incentives received. Unless the Company is reasonably sure it will take ownership of the leased asset at the end of the lease period, the assets recognized through right-of-use are depreciated in a straight line during the shortest period of their estimated useful life and lease period. Right-of-use assets are subject to impairment. (b) Lease liabilities On the lease start date, the Company recognizes lease liabilities measured at present value of lease payments that will be made during the lease period. Lease payments include fixed payments (including payments that are essentially fixed), less incentives for lease receivables, variable lease payments that are dependent on an index or rate and amounts that are expected to be paid as guaranteed residual value. Lease payments also include the exercise price of a purchase option if the Company is reasonably sure it will exercise this and penalty payments for terminating a lease, if the lease period reflects that the Company will exercise the option to terminate. Variable lease payments that are not dependent on an index or rate are recognized as expenses in the period that produces the event or condition that triggers payment. When calculating the present value of lease payments, the Company uses the incremental borrowing rate on the initial lease date if the interest rate implicit in the lease cannot be determined easily. After the start date, the lease liability balance will increase to reflect the accumulation of interest and will diminish as lease payments are made. Furthermore, the book value of lease liabilities is remeasured in the event of an amendment, a change in the lease period, a change in the fixed lease payments in substance or a change in the assessment to buy the underlying asset. Payments made that affect lease liabilities are presented as part of the financing activities in the cash flow statement. (c) Short-term leases and low-value asset leases The Company applies the short-term lease recognition exemption to leases with a lease term of 12 months or less starting on the start date and that don’t have a purchase option. It also applies the low-value asset lease recognition exemptions to leases less than the limit specified in the respective accounting standard. Lease payments in short-term leases and low-value asset leases are recognized as lineal expenses during the lease term. (d) Significant judgments in the determination of the lease term for contracts with renewal options. The Company determines the lease term as the non-cancellable period of the lease, together with periods covered by an option to extend the lease if it is reasonably certain that this will be exercised, or any period covered by an option to terminate the lease, if it is reasonably certain that this will not be exercised. The Company has the option, under some of its leases, to lease assets for additional terms. The Company applies its judgment when assessing whether it is reasonably certain that it will exercise the option to renovate. In other words, it considers all the relevant factors that create an economic incentive for it to exercise the option to renovate. After the start date, the Company reevaluates the lease term if there is a significant event or change in the circumstances that are under its control and affect its capacity to exercise (or not exercise) the option to renovate. |
Inventory measurement | 3.15 Inventory measurement The method used to determine the cost of inventories is the weighted average monthly cost of warehouse storage. In determining production costs for own products, the company includes the costs of labor, raw materials, materials and supplies used in production, depreciation and maintenance of the goods that participate in the production process, the costs of product movement necessary to maintain stock on location and in the condition in which they are found, and also includes the indirect costs of each task such as laboratories, process and planning areas, and personnel expenses related to production, among others. For finished and in-process products, the company has three types of provisions, which are reviewed quarterly: (a) Provision associated with the lower value of stock: The provision is directly identified with the product that generates it and involves three types: (i) provision of lower realizable value, which corresponds to the difference between the inventory cost of intermediary or finished products, and the sale price minus the necessary costs to bring them to the same conditions and location as the product with which they are compared; (ii) provision for future uncertain use that corresponds to the value of those products in process that are likely not going to be used in sales based on the company’s long-term plans; (iii) reprocessing costs of products that are unfeasible for sale due to current specifications. (b) Provision associated with physical differences in inventory: A provision is made for differences that exceed the tolerance considered in the respective inventory process (physical and annual inventories are taken for the productive units in Chile and the port of Tocopilla; the business subsidiaries depend on the last zero ground obtained, but in general it is at least once a year), these differences are recognized immediately. (c) Potential errors in the determination of stock: The company has an algorithm (reviewed at least once a year) that corresponds to diverse percentages assigned to each inventory based on the product, location, complexity involved in the associated measurement, rotation and control mechanisms. Inventories of raw materials, materials and supplies for production are recorded at acquisition cost. Cyclical inventories are performed in warehouses, as well as general inventories every three years. Differences are recognized at the moment they are detected. The company has a provision based on quarterly calculations from percentages associated with each type of material (classification by warehouse and rotation), these percentages use the lower value resulting from deterioration or obsolescence as well as potential losses. This provision is reviewed at least annually, and considers the historical results obtained in the inventory processes. |
Non-controlling interests | 3.16 Non-controlling interests Non-controlling interests are recorded in the consolidated statement of financial position within equity but separate from equity attributable to the owners of the Parent. |
Related party transactions | 3.17 Related party transactions Transactions between the Company and its subsidiaries are part of the Company’s normal operations within its scope of business activities. Conditions for such transactions are those normally effective for those types of operations with regard to terms and market prices. The maturity conditions vary according to the originating transaction. |
Property, plant and equipment | 3.18 Property, plant and equipment Property, plant and equipment are stated at acquisition cost, net of the related accumulated depreciation, amortization and impairment losses that they might have experienced. In addition to the price paid for the acquisition of tangible property, plant and equipment, the Company has considered the following concepts as part of the acquisition cost, as applicable: (a) Accrued interest expenses during the construction period that are directly attributable to the acquisition, construction or production of qualifying assets, which are those that require a substantial period prior to being ready for use. The interest rate used is that related to the project’s specific financing or, should this not exist, the average financing rate of the investor company. Financing costs are not capitalized for periods that exceed the normal term of acquisition, construction or installation of an asset, such as delays, interruptions or temporary suspension of the project due to technical, financial or other problems that prevent the asset from reaching a usable condition. (b) The future costs that the Company will have to experience, related to the closure of its facilities at the end of their useful life, are included at the present value of disbursements expected to be required to settle the and its subsequent variation is recorded directly in results. Having initially recognized provisions for closure and refurbishment, the corresponding cost is capitalized as an asset in “Property, plant and equipment” and amortized in line with the amortization criteria for the associated assets. Construction-in-progress is transferred to property, plant and equipment in operation once the assets are available for use and the related depreciation and amortization begins on that date. Extension, modernization or improvement costs that represent an increase in productivity, ability or efficiency or an extension of the useful lives of property, plant and equipment are capitalized as a higher cost of the related assets. All the remaining maintenance, preservation and repair expenses are charged to expense as they are incurred. The replacement of assets, which increase the asset’s useful life or its economic capacity, are recorded as a higher value of property, plant and equipment with the related derecognition of replaced or renewed elements. Gains or losses which are generated from the sale or disposal of property, plant and equipment are recognized as income (loss) and calculated as the difference between the asset’s sales value and its net carrying value. The cost of interest is recognized by applying an average or average weighted interest rate for all financing costs incurred by the Company to the final monthly balances for works underway and complies with the requirements of the required standard. |
Depreciation of property, plant and equipment | 3.19 Depreciation of property, plant and equipment Property, plant and equipment are depreciated through the straight-line distribution of cost over the estimated technical useful life of the asset, which is the period in which the Company expects to use the asset. When components of one item of property, plant and equipment have different useful lives, they are recorded as separate assets and depreciated over their expected useful lives. Useful lives are reviewed on an annual basis. Fixed assets located in the Salar de Atacama consider useful life to be the lesser value between the technical useful life and the years remaining until 2030. In the case of certain mobile equipment, depreciation is performed depending on the hours of operation. |
Goodwill | 3.20 Goodwill Goodwill acquired represents the excess in acquisition cost on the fair value of the Company’s ownership of the net identifiable assets of the subsidiary on the acquisition date. Goodwill acquired related to the acquisition of subsidiaries is included in the line item goodwill, which is subject to impairment tests annually or more frequently if events or changes in circumstances indicate that it might be impaired and is stated at cost less accumulated impairment losses. Gains and losses related to the sale of an entity include the carrying value of goodwill related to the entity sold. This intangible asset is assigned to cash-generating units with the purpose of testing impairment losses. It is allocated based on cash-generating units expected to obtain benefits from the business combination from which the aforementioned goodwill acquired arose. |
Intangible assets other than goodwill | 3.21 Intangible assets other than goodwill Intangible assets other than goodwill mainly relate to water rights, costs for rights of way for electricity lines, software and licensing costs, the development of computer software and mining property and concession rights. (a) Water rights Water rights acquired by the Company relate to water from natural sources and are recorded at acquisition cost. The Company separates water rights into: i) Finite rights with amortization using the straight-line method, and ii) Indefinite rights, which are not amortized, given that these assets represent rights granted in perpetuity to the Company and subject to an annual impairment assessment. (b) Rights of way for electric lines As required for the operation of industrial plants, the Company has paid rights of way in order to install wires for the different electric lines on third party land. (c) Computer software Licenses for IT programs acquired are capitalized based on their acquisition and customization costs. These costs are amortized over their estimated useful lives. The useful lives of IT programs are defined by their contracts or rights. Expenses related to the development or maintenance of IT programs are recognized as an expense as and when incurred. Costs directly related to the production of unique and identifiable IT programs controlled by the Group, and which will probably generate economic benefits that are higher than its costs during more than a year, are recognized as intangible assets. Direct costs include the expenses of employees who develop information technology software and general expenses in accordance with corporate charges received. The costs of development for IT programs are recognized as assets are amortized over their estimated useful lives. (d) Mining property and concession rights The Company holds mining property and concession rights from the Chilean and Western Australian Governments. Property rights from the State of Chile are usually obtained at no initial cost (other than the payment of mining patents and minor recording expenses) and once the rights on these concessions have been obtained, they are retained by the Company while annual patents are paid. Such patents, which are paid annually, are recorded as prepaid assets and amortized over the following twelve months. Amounts attributable to mining concessions acquired from third parties that are not from the Chilean Government are recorded at acquisition cost within intangible assets. The finite useful life of mining properties is calculated using the productive unit method, except for the mining properties owned by Corfo, which have been leased to the Company and grant it the right to exclusively exploit them until December 31, 2030. |
Research and development expenses | 3.22 Research and development expenses Research and development expenses are charged to the statement of income in the period in which the expenditure was incurred. |
Exploration and evaluation expenses | 3.23 Exploration and evaluation expenses The Company holds mining concessions for exploration and exploitation of ore, the Company gives the following treatment to the associated expenses: Once the rights have been obtained, the Company records the disbursements directly associated with the exploration and evaluation of the deposit in execution as property, plant and equipment (construction in progress) at its cost. These disbursements include the following items: geological surveys, drilling, borehole extraction and sampling, activities related to the technical assessment and commercial viability of the extraction, and in general, any disbursement directly related to specific projects where the objective is to find ore resources. If the technical studies determine that the ore grade is not economically viable, the asset is directly charged to the statement of income. If determined otherwise, the asset described above is associated with the extractable ore tonnage which is amortized as it is used. (a) Limestone and metallic exploration These assets are included in Other non-current non-financial assets, and the portion related to the area to be exploited in the year is reclassified to Current inventories, if applicable. Costs related to metal exploration are charged to income in the period in which they are recognized if the project assessed doesn’t qualify as advanced exploration otherwise, these are amortized during the development stage. (b) Exploration and evaluation at the Mt. Holland Project Exploration and evaluation costs incurred prior to the commencement of mining are presented in Construction in progress, until mining had commenced, subsequently these are reclassified to Mining assets as part of its property, plant and equipment. |
Impairment of non-financial assets | 3.24 Impairment of non-financial assets Assets subject to depreciation and amortization are also subject to impairment testing, provided that an event or change in the circumstances indicates that the amounts in the accounting records may not be recoverable, an impairment loss is recognized for the excess of the book value of the asset over its recoverable amount. For assets other than goodwill, the Group annually assesses whether there is any indication that a previously recognized impairment loss may no longer exist or may have decreased. Should such indications exist, the recoverable amount is estimated. The recoverable amount of an asset is the higher between the fair value of an asset or cash generating unit less costs of sales and its value in use, and is determined for an individual asset unless the asset does not generate any cash inflows that are clearly independent from other assets or groups of assets. In evaluating value in use, estimated future cash flows are discounted using a pre-tax discount rate that reflects current market assessment, the value of money over time and the specific asset risks. Impairment losses from continuing operations are recognized with a debit to the statement of income in the categories of expenses associated with the impaired asset function. For assets other than goodwill, a previously recognized impairment loss is only reversed if there have been changes in the estimates used to determine the asset’s recoverable amount since the last time an impairment loss was recognized. If this is the case, the carrying value of the asset is increased to its recoverable amount. This increased amount cannot exceed the carrying value that would have been determined, net of depreciation, if an asset impairment loss had not been recognized in prior years. This reversal is recognized with a credit to the statement of income. Assets with indefinite lives are assessed for impairment annually. |
Minimum dividend | 3.25 Minimum dividend As required by Chilean law and regulations, our dividend policy is decided upon from time to time by our Board of Directors and is announced at the Annual Ordinary Shareholders’ Meeting, which is generally held in April of each year. Shareholder approval of the dividend policy is not required. However, each year the Board must submit the declaration of the final dividend or dividends in respect of the preceding year, consistent with the then-established dividend policy, to the Annual Ordinary Shareholders’ Meeting for approval. As required by the Chilean Companies Act, unless otherwise decided by unanimous vote of the holders of issued shares, we must distribute a cash dividend in an amount equal to at least 30% of our consolidated net income for that year unless and to the extent the Company has a deficit in retained earnings. (See Note 19.5). |
Earnings per share | 3.26 Earnings per share The basic earnings per share amounts are calculated by dividing the net income for the year attributable to the ordinary owners of the parent by the weighted average number of ordinary shares outstanding during the year. For the year ended December 31 Earnings per Share 2023 2022 2021 Net income attributable to the owners of the parent (ThUS$) 923,191,000 3,906,311,000 585,454,000 Weighted average number of shares 285,638,456 285,638,456 278,157,812 Basic earnings per share (US$) 3.2320 13.6757 2.1048 Net income attributable to the owners of the parent (ThUS$) 923,191,000 3,906,311,000 585,454,000 Weighted average number of shares 285,638,456 285,638,456 278,157,812 Diluted earnings per share (US$) 3.2320 13.6757 2.1048 Series A common shares 142,819,552 142,819,552 142,819,552 Series B common shares 142,818,904 142,818,904 135,338,260 Total weighted average number of shares 285,638,456 285,638,456 278,157,812 The Company has no instruments that could potentially dilute earnings per share for the three years ended December 31, 2023. |
Other provisions | 3.27 Other provisions Provisions are recognized when: • The Company has a present, legal or constructive obligation as the result of a past event. • It is more likely than not that certain resources must be used, to settle the obligation. • A reliable estimate can be made of the amount of the obligation. In the event that the provision or a portion of it is reimbursed, the reimbursement is recognized as a separate asset solely if there is certainty of income. In the consolidated statement of income, the expense for any provision is presented net of any reimbursement. Should the effect of the value of money over time be significant, provisions are discounted using a discount rate before tax that reflects the liability’s specific risks. When a discount rate is used, the increase in the provision over time is recognized as a finance cost. The Company’s policy is to maintain provisions to cover risks and expenses based on a better estimate to deal with possible or certain and quantifiable responsibilities from current litigation, compensations or obligations, pending expenses for which the amount has not yet been determined, collaterals and other similar guarantees for which the Company is responsible. These are recorded at the time the responsibility or the obligation that determines the compensation or payment is generated. |
Obligations related to employee termination benefits and pension commitments | 3.28 Obligations related to employee termination benefits and pension commitments Obligations towards the Company’s employees comply with the provisions of the collective bargaining agreements in force, which are formalized through collective employment agreements and individual employment. These obligations are valued using actuarial calculations, according to the projected unit credit method which considers such assumptions as the mortality rate, employee turnover, interest rates, retirement dates, effects related to increases in employees’ salaries, as well as the effects on variations in services derived from variations in the inflation rate. Actuarial gains and losses that may be generated by variations in defined, pre-established obligations are directly recorded in “Other comprehensive income”. Actuarial losses and gains have their origin in deviations between the estimate and the actual behavior of actuarial assumptions or in the reformulation of established actuarial assumptions. The above is applicable except in the United States, where our subsidiary SQM North America has established pension plans for its retired employees that are calculated by measuring the projected obligation using a net salary progressive rate net of adjustments for inflation, mortality and turnover assumptions, deducting the resulting amounts at present value. The net balance of this obligation is presented under the “Non-current provisions for employee benefits” (refer to Note 17.4). |
Compensation plans | 3.29 Compensation plans Compensation plans implemented through benefits provided in share-based payments settled in cash are recognized in the financial statements at their fair value, in accordance with IFRS 2. Changes in the fair value of options granted are recognized with a charge to payroll in the statement of income (see Note 17.6). |
Revenue recognition | 3.30 Revenue recognition Revenue is an amount that reflects the consideration that the Company expects to earn in exchange for the sale of goods and services in the regular course of business. Revenue is presented net of value added tax, estimated returns, rebates and discounts and after the elimination of sales among subsidiaries. Revenues are recognized when the specific conditions for each income stream are met, as follows: (a) Sale of goods The sale of goods is recognized when the Company has delivered products to the customer, and there is no obligation pending compliance that could affect the acceptance of products by the customer. The delivery does not occur until products have been shipped to the customer or confirmed as received by the customer, and the related risks of obsolescence and loss have been transferred to the customer and the customer has accepted the products in accordance with the conditions established in the sale, when the acceptance period has ended, or when there is objective evidence that those criteria required for acceptance have been met. Sales are recognized in consideration of the price set in the sales agreement, net of volume discounts and estimated returns at the date of the sale. Volume discounts are evaluated in consideration of annual foreseen purchases and in accordance with the criteria defined in agreements. (b) Sale of services Revenue associated with the rendering of services is recognized considering the degree of completion of the service as of the date of presentation of the consolidated classified statement of financial position, provided that the result from the transaction can be estimated reliably. (c) Income from dividends Income from dividends is recognized when the right to receive the payment is established. |
Finance income and finance costs | 3.31 Finance income and finance costs Finance income is mainly composed of interest income from financial instruments such as term deposits and mutual fund deposits. Interest income is recognized in the statement of income at amortized cost, using the effective interest rate method. Finance costs are mainly composed of interest on bank borrowing expenses, interest on bonds issued and interest capitalized for borrowing costs for the acquisition, construction or production or qualifying assets. Borrowing costs and bonds issued are also recognized in the statement of income using the effective interest rate method. |
Current income tax and deferred | 3.32 Current income tax and deferred Corporate income tax for the year is determined as the sum of current and deferred income taxes from the different consolidated companies. Current taxes are based on the application of the various types of taxes attributable to taxable income for the period. The Company periodically assesses the positions taken in the determination of taxes with respect to situations in which the applicable tax regulation is subject to interpretation and considers whether it is probable that a tax authority will accept an uncertain tax treatment. A provision is created if it is probable that a payment will be required to a taxation authority. The Company measures its tax balances based on the most likely amount or expected value, depending on which method provides a better prediction of the resolution of uncertainty. Differences between the book value of assets and liabilities and their tax basis generate the balance of deferred tax assets or liabilities, which are calculated using the tax rates expected to be applicable when the assets and liabilities are realized. In conformity with current tax regulations, the provision for corporate income tax and taxes on mining activity is recognized on an accrual basis, presenting the net balances of accumulated monthly tax provisional payments for the fiscal period and associated credits. The balances of these accounts are presented in current income taxes recoverable or current taxes payable, as applicable. Current taxes and changes in deferred tax assets and liabilities that do not arise from business combinations are recognized in the statement of net income or in equity in the consolidated statement of financial position, depending on where the gains or losses that caused them were recognized. Deferred tax assets and liabilities are offset when a legally enforceable right exists to offset tax assets with tax liabilities and the deferred tax is levied by the same tax authority on the same entity. The recognized deferred tax liabilities refer to the amount of income tax to pay in a future period, related to taxable temporary differences. Company does not recognize deferred tax liabilities for taxable temporary differences associated with investments in subsidiaries, branches and associates, or with interests in joint ventures, because in accordance with the standard, the following two conditions are jointly met: i. the parent company, investor or participant is able to control the timing of the reversal of the temporary difference; and ii. it is probable that the temporary difference will not be reversed in the foreseeable future. Recognized deferred tax assets are income taxes recoverable in future periods, related to: a) deductible temporary differences; b) compensation for losses obtained in prior periods, which have not yet been subject to tax deduction; and c) compensation for unused credits from prior periods. The Company recognizes deferred tax assets when it has the certainty that they can be offset with tax income from subsequent periods, unused tax losses or credits to date, but only when this availability of future tax income is probable and can be used for offsetting these unused tax losses or credits. Moreover, the Company does not recognize deferred tax assets for all the deductible temporary differences that originate from investments in subsidiaries, branches and associates, or from joint ventures, because it is unlikely that they meet the following requirements: (i) temporary differences are reversed in the foreseeable future; and (ii) there is taxable profit available against which temporary differences can be used. |
Operating segment reporting | 3.33 Operating segment reporting IFRS 8 requires that companies adopt a management approach to disclose information on the operations generated by its operating segments. In general, this is the information that management uses internally for the evaluation of segment performance and making the decision on how to allocate resources for this purpose. An operating segment is a group of assets and operations responsible for providing products or services subject to risks and performance that are different from those of other business segments. A geographical segment is responsible for providing products or services in a given economic environment subject to risks and performance that are different from those of other segments operating in other economic environments. Allocation of assets and liabilities, to each segment is not possible given that these are associated with more than one segment, except for depreciation, amortization and impairment of assets, which are directly allocated in accordance with the criteria established in the costing process for product inventories to the corresponding segments. |
Primary accounting criteria, estimates and assumptions | 3.34 Primary accounting criteria, estimates and assumptions Management is responsible for the information contained in these consolidated annual accounts, which expressly indicate that all the principles and criteria included in IFRS, as issued by the IASB, have been applied in full. In preparing the consolidated financial statements of the Company and its subsidiaries, management has made significant judgments and estimates to quantify certain assets, liabilities, revenues, expenses and commitments included therein. Basically, these estimates refer to: • Estimated useful lives are determined based on current facts and past experience and take into consideration the expected physical life of the asset, the potential for technological obsolescence, and regulations. (See Notes 3.21, 14 and 15). • Impairment losses of certain assets - Goodwill and intangible assets that have an indefinite useful life are not amortized and are assessed for impairment on an annual basis, or more frequently if the events or changes in circumstances indicate that these may have deteriorated Other assets, including property, plant and equipment, exploration assets, goodwill and intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that their carrying amounts exceed their recoverable amounts. If an impairment assessment is required, the assessment of fair value or value in use often requires estimates and assumptions such as discount rates, exchange rates, commodity prices, future capital requirements and future operating performance. Changes in such estimates could impact the recoverable values of these assets. Estimates are reviewed regularly by management (See Notes 3.21, 14 and 15). • Assumptions used in calculating the actuarial amount of pension-related and severance indemnity payment benefit commitments (See Note 17). • Contingencies – The amount recognized as a provision, including legal, contractual, constructive and other exposures or obligations, is the best estimate of the consideration required to settle the related liability, including any related interest charges, considering the risks and uncertainties surrounding the obligation. In addition, contingencies will only be resolved when one or more future events occur or fail to occur. Therefore, the assessment of contingencies inherently involves the exercise of significant judgment and estimates of the outcome of future events. The Company assesses its liabilities and contingencies based upon the best information available, relevant tax laws and other appropriate requirements (See Note 20). If the Company is unable to rationally estimate the obligation or concluded no loss is probable but it is reasonably possible that a loss may be incurred, no provision is recorded but disclosed in the notes to the consolidated financial statements. • Volume determination for certain in-process and finished products is based on topographical measurements and technical studies that cover the different variables (density for bulk inventories and density and porosity for the remaining stock, among others), and related allowance. • Estimates for obsolescence provisions to ensure that the carrying value of inventory is not in excess of the net realizable inventory valuation. (See Note 10). Even though these estimates have been made on the basis of the best information available on the date of preparation of these consolidated financial statements, certain events may occur in the future and oblige their amendment (upwards or downwards) over the next few years, which would be made prospectively. |
Government grants | 3.35 Government grants The Company recognizes an unconditional government grant in the income statement as part of other income when the associated cash flows are received. |
Identification and activities_2
Identification and activities of the Company and Subsidiaries (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Identification And Activities Of The Company And Subsidiaries | |
Schedule of information about employees | As of December 31, 2023, and 2022, the workforce was as follows: As of December 31, 2023 As of December 31, 2022 Employees SQM S.A. Other Total SQM S.A. Other Total Executives 33 137 170 32 128 160 Professionals 190 2,663 2,853 177 2,506 2,683 Technicians and operators 364 4,295 4,659 309 3,845 4,154 Total 587 7,095 7,682 518 6,479 6,997 As of December 31, 2023 As of December 31, 2022 Place of work SQM S.A. Other Total SQM S.A. Other Total In Chile 587 6,447 7,034 518 6,015 6,533 Outside Chile — 648 648 — 464 464 Total 587 7,095 7,682 518 6,479 6,997 |
Schedule of shareholders stock and ownership percentage | The following information is derived from our registry and reports managed by the DCV and informed to the CMF and the Chilean Stock Exchange: Shareholders as of December 31, 2023 No. of Series A % of Series A No. of Series B % of Series B % of total Inversiones TLC SpA 62,556,568 43.80 % — — 21.90 % The Bank of New York Mellon, ADRs — — 46,174,681 32.33 % 16.17 % Sociedad de Inversiones Pampa Calichera S.A. 42,640,389 29.86 % 1,611,227 1.13 % 15.49 % Potasios de Chile S.A. 18,179,147 12.73 % — — 6.36 % Banco de Chile on behalf of State Street — — 11,744,230 8.22 % 4.11 % AFP Habitat S.A. 603,789 0.42 % 9,991,619 7.00 % 3.71 % Global Mining Spa 8,798,539 6.16 % — — 3.08 % Banco Santander on behalf of foreign investors — — 8,499,930 5.95 % 2.98 % AFP Provida S.A. — — 8,299,626 5.81 % 2.91 % AFP Cuprum S.A. — — 7,979,983 5.59 % 2.79 % AFP Capital S.A. — — 7,525,912 5.27 % 2.63 % Banco De Chile on behalf of Citi NA New York. 67,463 0.05 % 6,399,986 4.44 % 2.24 % Shareholders as of December 31, 2022 No. of Series A % of Series A No. of Series B % of Series B % of total The Bank of New York Mellon, ADRs — — 64,555,045 45.20% 22.60 % Inversiones TLC Spa (1) 62,556,568 43.80 % — — 21.90 % Sociedad de Inversiones Pampa Calichera S.A. (2) 43,133,789 30.20 % 1,611,227 1.13 % 15.66 % Potasios De Chile S.A. 18,179,147 12.73 % — — 6.36 % Banco de Chile via State Street 79,265 0.06 % 10,979,388 7.69 % 3.87 % AFP Habitat S.A. — — 9,504,885 6.66 % 3.33 % Inv. Global Mining Chile Ltda. 8,798,539 6.16 % — — 3.08 % Banco Santander via foreign investor accounts 545,729 0.38 % 8,181,775 5.73 % 3.06 % AFP Cuprum S.A. — — 6,535,039 4.58 % 2.29 % Banco de Chile non-resident third party accounts 62,829 0.04 % 6,181,476 4.33 % 2.19 % AFP Capital S.A. — — 5,652,982 3.96 % 1.98 % AFP Provida S.A. — — 5,263,361 3.69 % 1.84 % ________________________________________________ (1) As reported by DCV, which records the Company’s shareholders’ register as of December 31, 2023 and 2022 Inversiones TLC SpA, a subsidiary wholly owned by Tianqi Lithium Corporation, is the direct owner of 62,556,568 Series A shares of the Company equivalent to 21.90% of SQM’s shares. In addition, as reported by Tianqi Lithium Corporation, it owns 748,490 Series B shares as reported by Inversiones TLC SpA. Accordingly, as of December 31, 2023, and 2022, Tianqi Lithium Corporation owns 22.16% of SQM's shares through Series A shares and ADS of Series B shares. (2) As of December 31, 2023, and 2022, Sociedad de Inversiones Pampa Calichera S.A. owned 46,600,458 Series A and B shares; 2,348,842 Series A shares held in custody by stockbrokers. |
Basis of presentation for the_2
Basis of presentation for the consolidated financial statements (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Basis Of Presentation For The Consolidated Financial Statements [Abstract] | |
Schedule of detailed information about subsidiaries | The following tables detail general information as of December 31, 2023 and 2022 on the companies in which the group exercises control: Country of Functional Ownership Interest Subsidiaries TAX ID No. Address Incorporation Currency Direct Indirect Total SQM Nitratos S.A. 96.592.190-7 El Trovador 4285, Las Condes Chile Dollar 99.9999 0.0001 100.0000 SQM Potasio S.A. 96.651.060-9 El Trovador 4285, Las Condes Chile Dollar 99.9999 0.0001 100.0000 Serv. Integrales de Tránsito y Transf. S.A. 79.770.780-5 Arturo Prat 1060, Tocopilla Chile Dollar 0.0003 99.9997 100.0000 Isapre Norte Grande Ltda. 79.906.120-1 Aníbal Pinto 3228, Antofagasta Chile Peso 1.0000 99.0000 100.0000 Ajay SQM Chile S.A. 96.592.180-K Av. Pdte. Eduardo Frei 4900, Santiago Chile Dollar 51.000 - 51.000 Almacenes y Depósitos Ltda. 79.876.080-7 El Trovador 4285, Las Condes Chile Peso 1.0000 99.0000 100.0000 SQM Salar S.A. 79.626.800-K El Trovador 4285, Las Condes Chile Dollar 18.1800 81.8200 100.0000 SQM Industrial S.A. 79.947.100-0 El Trovador 4285, Las Condes Chile Dollar 99.0470 0.9530 100.0000 Exploraciones Mineras S.A. 76.425.380-9 El Trovador 4285, Las Condes Chile Dollar 0.2691 99.7309 100.0000 Sociedad Prestadora de Servicios de Salud Cruz del Norte S.A. 76.534.490-5 Aníbal Pinto 3228, Antofagasta Chile Peso - 100.0000 100.0000 Soquimich Comercial S.A. 79.768.170-9 El Trovador 4285, Las Condes Chile Dollar - 60.6383 60.6383 Comercial Agrorama Ltda. (1) 76.064.419-6 El Trovador 4285, Las Condes Chile Dollar - 60.6383 60.6383 Comercial Hydro S.A. 96.801.610-5 El Trovador 4285, Las Condes Chile Dollar - 100.0000 100.0000 Agrorama S.A. 76.145.229-0 El Trovador 4285, Las Condes Chile Dollar - 60.6383 60.6383 Orcoma Estudios SPA 76.359.919-1 Apoquindo 3721 OF 131, Las Condes Chile Dollar 100.0000 - 100.0000 Orcoma SPA 76.360.575-2 Los Militares 4290, Las Condes Chile Dollar 100.0000 - 100.0000 SQM MaG SpA 76.686.311-9 Los Militares 4290, Las Condes Chile Dollar - 100.0000 100.0000 Sociedad Contractual Minera Búfalo 77.114.779-8 Los Militares 4290, Las Condes Chile Dollar 99.9000 0.1000 100.0000 SQM North America Corp. Foreign 2727 Paces Ferry Road, Building Two, Suite 1425, Atlanta, GA United States of America Dollar 40.0000 60.0000 100.0000 RS Agro Chemical Trading Corporation A.V.V. Foreign Caya Ernesto O. Petronia 17, Orangestad Aruba Dollar 98.3333 1.6667 100.0000 Nitratos Naturais do Chile Ltda. Foreign Al. Tocantis 75, 6° Andar, Conunto 608 Edif. West Gate, Alphaville Barureri, CEP 06455-020, Sao Paulo Brazil Dollar - 100.0000 100.0000 SQM Corporation N.V. Foreign Pietermaai 123, P.O. Box 897, Willemstad, Curacao Curacao Dollar 0.0002 99.9998 100.0000 SQM Ecuador S.A. Foreign Av. José Orrantia y Av. Juan Tanca Marengo Edificio Executive Center Piso 2 Oficina 211 Ecuador Dollar 0.00401 99.9960 100.0000 SQM Brasil Ltda. Foreign Al. Tocantis 75, 6° Andar, Conunto 608 Edif. West Gate, Alphaville Barureri, CEP 06455-020, Sao Paulo Brazil Dollar 0.5300 99.4700 100.0000 SQMC Holding Corporation. Foreign 2727 Paces Ferry Road, Building Two, Suite 1425, Atlanta United States of America Dollar 0.1000 99.9000 100.0000 SQM Japan Co. Ltd. Foreign From 1st Bldg 207, 5-3-10 Minami- Aoyama, Minato-ku, Tokio Japan Dollar 0.1597 99.8403 100.0000 Country of Functional Ownership Interest Subsidiaries TAX ID No. Address Direct Indirect Total SQM Europe N.V. (3) Foreign Houtdok-Noordkaai 25a B-2030 Amberes Belgium Dollar 0.5800 99.4200 100.0000 SQM International N.V. (3) Foreign Houtdok-Noordkaai 25a B-2030 Amberes Belgium Dollar - - - SQM Indonesia S.A. Foreign Perumahan Bumi Dirgantara Permai, Jl Suryadarma Blok Aw No 15 Rt 01/09 17436 Jatisari Pondok Gede Indonesia Dollar - 80.0000 80.0000 North American Trading Company (4) Foreign 2727 Paces Ferry Road, Building Two, Suite 1425, Atlanta, GA United States of America Dollar - - - SQM Virginia LLC (4) Foreign 2727 Paces Ferry Road, Building Two, Suite 1425, Atlanta, GA United States of America Dollar - - - SQM Comercial de México S.A. de C.V. Foreign Av. Moctezuma 144-4 Ciudad del Sol. CP 45050, Zapopan, Jalisco México México Dollar 0.0100 99.9900 100.0000 SQM Investment Corporation N.V. Foreign Pietermaai 123, P.O. Box 897, Willemstad, Curacao Curacao Dollar 1.0000 99.0000 100.0000 Royal Seed Trading Corporation A.V.V. Foreign Caya Ernesto O. Petronia 17, Orangestad Aruba Dollar 1.6700 98.3300 100.0000 SQM Lithium Specialties Limited Partnership (4) Foreign 2727 Paces Ferry Road, Building Two, Suite 1425, Atlanta, GA United States of America Dollar - - - Comercial Caimán Internacional S.A. (2) Foreign Edificio Plaza Bancomer Panamá Dollar - - - SQM France S.A. Foreign ZAC des Pommiers 27930 Fauville France Dollar - 100.0000 100.0000 Administración y Servicios Santiago S.A. de C.V. Foreign Av. Moctezuma 144-4 Ciudad del Sol, CP 45050, Zapopan, Jalisco México México Dollar - 100.0000 100.0000 SQM Nitratos México S.A. de C.V. Foreign Av. Moctezuma 144-4 Ciudad del Sol, CP 45050, Zapopan, Jalisco México México Dollar - 100.0000 100.0000 Soquimich European Holding B.V. Foreign Luna Arena, Herikerbergweg 238 1101 CM Amsterdan Holland Dollar - 100.0000 100.0000 SQM Iberian S.A. Foreign Provenza 251 Principal 1a CP 08008, Barcelona Spain Dollar - 100.0000 100.0000 SQM África Pty Ltd. Foreign Tramore House, 3 Wterford Office Park, Waterford Drive, 2191 Fourways, Johannesburg South Africa Dollar - 100.0000 100.0000 SQM Oceanía Pty Ltd. Foreign Level 9, 50 Park Street, Sydney NSW 2000, Sydney Australia Dollar - 100.0000 100.0000 SQM Beijing Commercial Co. Ltd. Foreign Room 1001C, CBD International Mansion N 16 Yong An Dong Li, Jian Wai Ave Beijing 100022, P.R. China Dollar - 100.0000 100.0000 SQM Thailand Limited Foreign Unit 2962, Level 29, N° 388, Exchange Tower Sukhumvit Road, Klongtoey Bangkok Thailand Dollar - 99.9980 99.9980 SQM Colombia SAS Foreign Cra 7 No 32 – 33 piso 29 Pbx: (571) 3384904 Fax: (571) 3384905 Bogotá D.C. – Colombia. Colombia Dollar - 100.0000 100.0000 SQM Australia Pty Foreign Level 16, 201 Elizabeth Street Sydney Australia Dollar - 100.0000 100.0000 SQM (Shanghai) Chemicals Co. Ltd. Foreign Room 4703-33, 47F, No.300 Middle Huaihai Road, Huangpu district, Shanghai China Dollar - 100.0000 100.0000 SQM Korea LLC Foreign Suite 22, Kyobo Building, 15th Floor, 1 Jongno Jongno-gu, Seoul, 03154 South Korea South Korea Dollar - 100.0000 100.0000 SQM Holland B.V. Foreign Herikerbergweg 238, 1101 CM Amsterdam Zuidoost Holland Dollar - 100.0000 100.0000 Soquimich Comercial Brasil Ltda. Foreign Avenida Bento Rocha, N° 821, Vila Alboitt, CEP 83221-565. Paranaguá Brazil Dollar - 100.0000 100.0000 (1) SQM has control over Comercial Agrorama Ltda.´s management (2) Comercial Caiman Internacional S.A. was liquidated at June 30, 2023. As of December 31, 2022, ownership interest over this entity was 100% indirect. (3) On July 1, 2023, SQM Europe N.V. absorbed its affiliate SQM International N.V. As of December 31, 2022, ownership interest over SQM International was 100% indirect. (4) During the fourth quarter, SQM Virginia LLC, North American Trading Company and SQM Lithium Specialties Limited Partnership were |
Significant accounting polici_3
Significant accounting policies (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Significant Accounting Policies | |
Schedule of foreign exchange rates used to translate monetary items | The main exchange rates and UF used to translate monetary assets and liabilities, expressed in foreign currency at the end and average of each period in respect to U.S. dollars, are as follows: Closing exchange rates Average exchange rates Currencies As of As of As of As of ThUS$ ThUS$ ThUS$ ThUS$ Brazilian real 4.85 5.28 4.90 5.25 New Peruvian sol 3.70 3.81 3.73 3.83 Japanese yen 140.90 131.32 143.94 134.70 Euro 0.90 0.93 0.92 0.94 Mexican peso 16.92 19.50 17.18 19.60 Australian dollar 1.46 1.47 1.49 1.48 Pound Sterling 0.78 0.83 0.79 0.82 South African rand 18.27 17.01 18.61 17.28 Chilean peso 877.12 855.86 875.06 873.81 Chinese yuan 7.12 6.92 7.15 6.98 Indian rupee 83.21 82.73 83.26 82.52 Thai Baht 34.36 34.64 34.95 34.76 Turkish lira 29.52 18.71 29.09 18.66 Korean Won 1,290.70 1,259.98 1,304.17 1,291.64 Indonesian Rupiah 15,399.00 15,570.00 15,502.63 15,596.90 United Arab Emirates dirham 3.67 3.67 3.67 3.67 Polish Zloty 3.93 4.37 3.97 4.42 UF (*) 41.94 41.02 42.04 40.18 ________________________________________________ (*) US$ per UF |
Schedule of other (outflows) inflows of cash from operating activities | Other (outflows) inflows of cash from operating activities is composed as follows: For the year ended December 31, December 31, December 31, Banking expenses (15,603) (3,783) (1,921) Tax credits (3,353) (3,474) (2,403) Government grants 24,387 — — Value added tax (298,076) 120,283 80,503 Cost of bond issuance (18,346) (2,566) (16,570) (310,991) 110,460 59,609 |
Schedule of useful lives of property, plant and equipment | The useful lives used for the depreciation and amortization of assets included in property, plant and equipment in years are presented below: Classes of property, plant and equipment Minimum life or Maximum life or Life or average rate Mining assets (*) 5 10 8 Energy generating assets 5 16 8 Buildings 4 25 13 Supplies and accessories 4 15 8 Office equipment 5 10 6 Transport equipment 6 20 9 Network and communication equipment 4 12 7 IT equipment 4 11 7 Machinery, plant and equipment 3 24 11 Other fixed assets 3 20 9 (*) Mining equipment includes SQM Australia's exploration assets, which are depreciated on a unit of production basis. |
Schedule of useful lives of intangible assets | Minimum and maximum amortization lives or rates of intangible assets: Estimated useful life or amortization rate Minimum Life or Maximum Life or Water rights 2 years Indefinite Rights of way Indefinite Indefinite Corfo Mining properties (1) 7 years 7 years Mining rights Unit-production method Intellectual property 9 years 9 years IT programs 3 years 9 years ________________________________________________ (1) Mining properties owned by Corfo and leased to the Company, which grant it the exclusive right to exploit them until December 31, 2030. |
Earnings per share | The basic earnings per share amounts are calculated by dividing the net income for the year attributable to the ordinary owners of the parent by the weighted average number of ordinary shares outstanding during the year. For the year ended December 31 Earnings per Share 2023 2022 2021 Net income attributable to the owners of the parent (ThUS$) 923,191,000 3,906,311,000 585,454,000 Weighted average number of shares 285,638,456 285,638,456 278,157,812 Basic earnings per share (US$) 3.2320 13.6757 2.1048 Net income attributable to the owners of the parent (ThUS$) 923,191,000 3,906,311,000 585,454,000 Weighted average number of shares 285,638,456 285,638,456 278,157,812 Diluted earnings per share (US$) 3.2320 13.6757 2.1048 Series A common shares 142,819,552 142,819,552 142,819,552 Series B common shares 142,818,904 142,818,904 135,338,260 Total weighted average number of shares 285,638,456 285,638,456 278,157,812 |
Financial risk management (Tabl
Financial risk management (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of nature and extent of risks arising from financial instruments [abstract] | |
Schedule of bank promissory notes | Bank promissory notes: These are negotiable promissory notes issued by a bank payable upon maturity at the request of customers to guarantee collection of the Company. These notes are accepted based on the credit quality of the issuing banks. Financial institution Financial assets Rating As of Moody´s S&P Fitch ThUS$ Agricultural Bank of China Bank notes P-1 A-1 - 2,061 Bank of Communications Bank notes P-1 A-2 - 8,783 Bank of NingBo Bank notes P-2 - - 1,065 China CITIC Bank Bank notes P-2 A-2 - 35,477 China Construction Bank Corporation Bank notes - A-1 - 1,802 China Everbright Bank Bank notes (P)P-2 A-2 - 2,647 China Guangfa Bank Bank notes P-3 A-3 - 1,245 China Merchants Bank notes - A-2 - 8,661 China Minsheng Bank Bank notes - A-3 - 3,097 China Zheshang Bank Bank notes - A-3 - 3,167 HuaXia Bank Bank notes - A-3 - 3,639 Industrial & Commercial Bank of China Limited Bank notes P-1 A-1 - 8,998 Industrial Bank Bank notes P-1 A-1+ - 12,177 International Bank of Macau Bank notes P-1 - F1+ 4,122 Shanghai Pudong Development Bank Bank notes P-2 A-2 - 20,549 Others Bank notes - - - 8,441 Total 125,931 Financial institution Financial assets Rating December 31, Moody´s S&P Fitch ThUS$ Agricultural Bank of China Bank notes P-1 A-1 F1+ 10,334 Bank of China Bank notes P-1 A-1 F1+ 27,936 Bank of Jiujiang Bank notes P-2 - - 1,964 Bank of Ningbo Bank notes P-2 - - 3,148 Others Bank notes - - - 1,887 Total 45,269 |
Schedule of credit quality of financial assets | The credit quality of financial assets that are not past due or impaired can be evaluated by reference to external credit ratings (if they are available) or historical information on counterparty late payment rates: Financial institution Financial assets Rating As of Moody´s S&P Fitch ThUS$ Banco Santander- Santiago Time deposits P-1 A-2 F2 6,318 Banco Crédito e Inversiones Time deposits P-1 A-2 - 1,001 Corpbanca Time deposits P-2 A-2 - 5,014 Banco de Chile Time deposits P-1 A-1 - 4,460 Scotiabank Sud Americano Time deposits - - F1+ 6,752 Banco Crédito e Inversiones Investment fund AA+ - - 5,031 JP Morgan US dollar Liquidity Fund Institutional Investment fund Aaa-mf AAAm AAAmmf 22,845 Legg Mason - Western Asset Institutional cash reserves Investment fund - AAAm AAAmmf 312,924 Total 364,345 Banco Crédito e Inversiones Time deposits P-1 A-2 F2 74,459 Banco Morgan Stanley Margin Call P-1 A-2 F1 5,590 Banco Santander Time deposits P-1 A-2 - 100,083 Banco Itaú CorpBanca Time deposits P-2 A-2 - 372,061 Scotiabank Sud Americano Time deposits - - F1+ 672,720 Sumitomo Mitsui Banking Time deposits P-1 - F1 91,884 Total 1,316,797 Financial institution Financial assets Rating As of Moody´s S&P Fitch ThUS$ Banco Crédito e Inversiones Time deposits - A-2 F2 150,578 Banco Itaú Corpbanca Time deposits P-2 A-2 - 284,915 Banco Santander - Santiago Time deposits P-1 A-2 - 124,689 Scotiabank Chile Time deposits - - F1+ 416,026 Sumitomo Mitsui Banking Time deposits P-1 - - 122,631 Banco de Chile Time deposits - A-1 - 602 JP Morgan US dollar Liquidity Fund Institutional Investment fund Aaa-mf AAAm AAAmmf 435,485 Legg Mason - Western Asset Institutional cash reserves Investment fund - AAAm AAAmmf 590,661 Total 2,125,587 Banco Crédito e Inversiones Time deposits - A-2 F2 187,707 Banco Itaú Corpbanca Time deposits P-2 A-2 - 15,048 Banco Santander - Santiago Time deposits P-1 A-2 - 51,444 Banco Estado Time deposits P-1 A-1 - 85,055 Scotiabank Chile Time deposits - - F1+ 250,362 Banco de Chile Time deposits - A-1 - 150,259 Sumitomo Mitsui Banking Time deposits P-1 - - 210,292 Total 950,167 |
Schedule of derivative contracts | These derivative contracts are held with domestic and foreign banks, which have the following credit ratings as of December 31, 2023. Financial institution Financial assets Rating Moody´s S&P Fitch Banco Estado Derivative P-1 - - Merrill Lynch International Derivative P-1 A-2 F1+ JP Morgan Derivative P-1 A-2 F1+ Morgan Stanley Derivative P-1 A-2 F1 The Bank of Nova Scotia Derivative P-1 A-1 F1+ Banco Itaú-Corpbanca Derivative P-2 A-2 - Goldman Sachs Derivative P-1 A-2 F1 |
Schedule of cash and cash equivalents | Cash and cash equivalents are invested in highly liquid mutual funds with an AAA risk rating. Nature of undiscounted cash flows As of December 31, 2023 Carrying Less than 1 year 1 to 5 years Over 5 years Total (figures expressed in millions of US dollars) Bank borrowings 1,464.26 1,117.86 268.80 62.05 1,448.71 Unsecured obligations 2,999.17 98.88 729.56 2,733.92 3,562.36 Sub total 4,463.43 1,216.74 998.36 2,795.97 5,011.07 Hedging liabilities 25.37 24.11 30.08 1.30 55.49 Derivative financial instruments 14.81 14.81 — — 14.81 Sub total 40.18 38.92 30.08 1.30 70.30 Current and non-current lease liabilities (3) 75.16 19.94 56.45 3.79 80.18 Trade accounts payable and other accounts payable 449.63 449.63 — — 449.63 Total 5,028.40 1,725.23 1,084.89 2,801.06 5,611.18 (3) Leases subject to variability are not included . Nature of undiscounted cash flows As of December 31, 2022 Carrying Less than 1 year 1 to 5 years Over 5 years Total (figures expressed in millions of US dollars) Bank borrowings 330.80 144.83 220.33 — 365.16 Unsecured obligations 2,550.60 405.17 616.66 2,935.15 3,956.98 Sub total 2,881.40 550.00 836.99 2,935.15 4,322.14 Hedging liabilities 62.53 40.76 20.43 12.68 73.87 Derivative financial instruments 5.82 5.82 — — 5.82 Sub total 68.35 46.58 20.43 12.68 79.69 Current and non-current lease liabilities 61.73 13.94 36.33 27.85 78.12 Trade accounts payable and other accounts payable 374.79 374.79 — — 374.79 Total 3,386.27 985.31 893.75 2,975.68 4,854.74 |
Separate information on the m_2
Separate information on the main office, parent entity and joint action agreements (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Separate Information On The Main Office, Parent Entity And Joint Action Agreements | |
Schedule of Parent's stand-alone assets and liabilities | 5.1 Parent’s stand-alone assets and liabilities Parent’s stand-alone assets and liabilities As of As of ThUS$ ThUS$ Assets 8,824,362 8,430,376 Liabilities (4,383,163) (3,533,744) Equity 4,441,199 4,896,632 |
Board of Directors, Senior Ma_2
Board of Directors, Senior Management and Key management personnel (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Board Of Directors, Senior Management And Key Management Personnel | |
Schedule of key management personnel compensation | As of December 31, 2023, and 2022, the number of the key management personnel is 153 and 142, respectively. Key management personnel compensation For the year ended For the year ended For the year ended ThUS$ ThUS$ ThUS$ Key management personnel compensation 37,418 29,633 31,560 |
Equity-accounted investees (Tab
Equity-accounted investees (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Equity-Accounted Investees | |
Schedule of investments in associates | Equity-accounted investees Share in income of associates Share in other comprehensive income of Share in total comprehensive income of Associate As of As of For the year For the year For the year For the year For the year For the year For the year For the year For the year ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Ajay North America 17,657 17,654 3,733 5,351 2,802 — — — 3,733 5,351 2,802 Ajay Europe SARL 7,722 8,624 4,013 6,130 1,852 382 (498) 360 4,395 5,632 2,212 SAS Adionics 19,514 — (985) — — — — — (985) — — Electric Era Technologies Inc. 3,000 — — — — — — — — — — Altilium Metals Ltd. 7,620 — — — — — — — — — — Total 55,513 26,278 6,761 11,481 4,654 382 (498) 360 7,143 10,983 5,014 |
Schedule of dividends received from associates | Dividends received for the year ending Associate Description of the nature Address Country of Share of December 31, December 31, December 31, ThUS$ ThUS$ ThUS$ Abu Dhabi Fertilizer Industries WWL Distribution and commercialization of specialty plant nutrients in the Middle East. PO Box 71871, Abu Dhabi United Arab Emirates 37 % 633 3,000 9,438 Ajay North America Production and distribution of iodine and iodine derivatives. 1400 Industry RD Power Springs GA 30129 United States of North America 49 % 4,013 1,576 1,233 Ajay Europe SARL Production and distribution of iodine and iodine derivatives. Z.I. du Grand Verger BP 227 53602 Evron Cedex France 50 % 4,682 1,778 992 SAS Adionics Lithium extraction, salt separation, water treatment for production and lithium cleaning. 17 bis Avenue des Andes Les Ulis, 91940 France 20 % — — — Electric Era Technologies, Inc. Electric vehicle charging infrastructure, smart grid, renewable technology, demand management, battery storage. 3257 17th Ave W Suite 101 Seattle, Washington 98119. United States of America 6.82 % — — — Altilium Metals Ltd. Production of battery-ready cathode materials from electric vehicle batteries. Phase 2 Room 205 Davy Road, Derrifod, Plymouth. United Kingdom 3 % — — — Total 9,328 6,354 11,663 |
Schedule of assets, liabilities, revenue and expenses of associates | The information disclosed reflects the amounts presented in the financial statements of the relevant associates and not the Company's share of those amounts. As of December 31, 2023 For the year ended December 31, 2023 Assets Liabilities Revenue Net income (loss) Other Comprehensive Associate Current Non-current Current Non-current ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Ajay North America 26,280 16,307 6,553 — 60,019 7,617 — 7,617 Ajay Europe SARL 27,263 3,197 15,015 — 73,952 8,025 12 8,037 SAS Adionics 19,645 12,294 5,141 917 4,156 (4,924) — (4,924) Electric Era Technologies, Inc. 15,486 242 3,702 — 674 (3,177) — (3,177) Altilium Metals Ltd. 1,896 118,228 24,679 — — (1,912) — (1,912) Total 90,570 150,268 55,090 917 138,801 5,629 12 5,641 As of December 31, 2022 For the year ended December 31, 2022 Assets Liabilities Revenue Net income (loss) Other Comprehensive Associate Current Non-current Current Non-current ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Ajay North America 30,455 15,972 10,395 2 63,482 10,919 — 10,919 Ajay Europe SARL 33,742 1,992 18,486 — 64,060 12,261 (21) 12,240 Total 64,197 17,964 28,881 2 127,542 23,180 (21) 23,159 For the year ended December 31, 2021 Revenue Net income (loss) Other Comprehensive Associate ThUS$ ThUS$ ThUS$ ThUS$ Ajay North America 47,375 5,718 — 5,718 Ajay Europe SARL 48,409 3,705 (34) 3,671 Total 95,784 9,423 (34) 9,389 |
Joint Ventures (Tables)
Joint Ventures (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of joint ventures [abstract] | |
Schedule of investment in joint ventures accounted for under the equity method of accounting | Equity-accounted investees Share in income (loss) of joint ventures Joint Venture As of As of For the year ended For the year ended For the year ended ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ SQM Vitas Fzco. 19,490 20,793 (6,564) 8,208 6,304 Pavoni & C. Spa 7,870 7,315 396 470 174 Covalent Lithium Pty Ltd. — — 107 — — Pirra Lithium Pty Ltd. 3,544 — — — — Total 30,904 28,108 (6,061) 8,678 6,478 Share on other comprehensive income joint ventures Share on total comprehensive income of joint ventures Joint Venture For the year ended For the year ended For the year ended For the year ended For the year ended For the year ended ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ SQM Vitas Fzco. 2,450 674 429 (4,114) 8,882 6,733 Pavoni & C. Spa 139 (210) (317) 535 260 (143) Covalent Lithium Pty Ltd. (*) 1,583 90 37 1,690 90 37 Pirra Lithium Pty Ltd. — — — — — — Total 4,172 554 149 (1,889) 9,232 6,627 ________________________________________________ (*) Equity method investments with a negative value are presented under "Other non-current provisions" and total ThUS$ 766. The following companies were included in the consolidation: Equity-accounted investees Share in income (loss) of joint ventures Joint Venture As of As of For the year ended For the year ended For the year ended ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ SQM Vitas Brasil Agroindustria (**) — 14,667 — 5,834 4,582 SQM Vitas Perú S.A.C. (1) 2,488 1,340 (2,302) 2,293 1,645 Total 2,488 16,007 (2,302) 8,127 6,227 Share on other comprehensive income of Share on total comprehensive income of Joint Venture For the year ended For the year ended For the year ended For the year ended For the year ended For the year ended ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ SQM Vitas Brasil Agroindustria (**) — 551 (429) — 6,385 4,153 SQM Vitas Perú S.A.C. (1) — — — (2,302) 2,293 1,645 Total — 551 (429) (2,302) 8,678 5,798 (**) As of December 31, 2023, the investment in SQM Vitas Brasil Agroindustria was sold. 1. These companies are subsidiaries of: SQM Vitas Fzco |
Schedule of dividends received from joint ventures | Dividends received for the year ending Joint venture Description of the nature Domicile Country of Share of As of As of As of ThUS$ ThUS$ ThUS$ SQM Vitas Fzco. Production and commercialization of specialty plant, animal nutrition and industrial hygiene. Jebel ALI Free Zone P.O. Box 18222, Dubai United Arab Emirates 50 % — — — Pavoni & C. Spa Production of specialty fertilizers and others for distribution in Italy and other countries. Corso Italia 172, 95129 Catania -CT, Sicilia Italy 50 % — — — Covalent Lithium Pty Ltd. Development and operation of the Mt. Holland Lithium project, which will include the construction of a lithium extraction and refining mine. L18, 109 St Georges Tce Perth WA 6000 |PO Box Z5200 St Georges Tce Perth WA 6831 Australia 50 % — — — SQM Vitas Brasil Agroindustria (1) Production and trading of specialty vegetable and animal nutrition and industrial hygiene. Via Cndeias, Km. 01 Sem Numero, Lote 4, Bairro Cia Norte, Candeias, Bahia. Brazil 49.99 % — — — SQM Vitas Perú S.A.C. (1) Production and trading of specialty vegetable and animal nutrition and industrial hygiene Av. Juan de Arona 187, Torre B, Oficina 301-II, San Isidro, Lima Peru 50 % — — — Pirra Lithium Pty Ltd. Exploration and development of lithium assets.. Suite 12, 11 Ventnor Avenue, West Perth, WA 6605. Australia 37.5 % — — — Total — — — |
Schedule of assets, liabilities, revenue and expenses from joint ventures | The information disclosed reflects the amounts presented in the financial statements of the relevant joint ventures and not the Company's share of those amounts. As of December 31, 2023 For the year ended December 31, 2023 Assets Liabilities Revenue Net income (loss) Other Comprehensive Joint Venture Current Non-current Current Non-current ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ SQM Vitas Fzco. (*) 34,056 — 52 — — 359 — 359 SQM Vitas Brasil Agroindustria (*) — — — — — — — — SQM Vitas Perú S.A.C. (*) 40,327 8,954 36,898 220 53,477 (4,603) — (4,603) Pavoni & C. Spa (*) 11,879 6,407 8,146 814 21,439 792 115 907 Covalent Lithium Pty Ltd. 6,980 2,602 7,106 4,009 — 215 — 215 Pirra Lithium Pty Ltd. — — — — — — — — Total 93,242 17,963 52,202 5,043 74,916 (3,237) 115 (3,122) As of December 31, 2022 For the year ended December 31, 2022 Assets Liabilities Net income (loss) Other Comprehensive Joint Venture Current Non-current Current Non-current Revenue ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ SQM Vitas Fzco. (*) 9,618 — 49 — — 165 — 165 SQM Vitas Brasil Agroindustria (*) 73,045 6,111 45,894 — 162,026 11,670 602 12,272 SQM Vitas Perú S.A.C. (*) 59,196 7,285 49,596 117 61,387 4,586 — 4,586 Pavoni & C. Spa (*) 11,516 6,358 8,853 802 18,066 939 (344) 595 Covalent Lithium Pty Ltd. 2,077 3,088 7,062 3,017 — (2,648) — (2,648) Total 155,452 22,842 111,454 3,936 241,479 14,712 258 14,970 For the year ended December 31, 2021 Revenue Net income (loss) Other Comprehensive Joint Venture ThUS$ ThUS$ ThUS$ ThUS$ SQM Vitas Fzco. (*) — 159 — 159 SQM Vitas Brasil Agroindustria (*) 103,335 9,165 (858) 8,307 SQM Vitas Perú S.A.C. (*) 48,128 3,289 — 3,289 Pavoni & C. Spa (*) 19,599 347 (634) (287) Covalent Lithium Pty Ltd. — (864) 74 (790) Total 171,062 12,096 (1,418) 10,678 (*) The financial figures figures exclude consolidation adjustments (unrealized gains and losses) |
Schedule of other joint venture information | Cash and cash equivalents Other current financial liabilities Other non-current financial liabilities Joint Venture As of As of As of As of As of As of ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ SQM Vitas Fzco. 28,012 3,866 — — — — SQM Vitas Brasil Agroindustria — 3,820 — 9,753 — — SQM Vitas Perú S.A.C. 2,318 2,208 — 82 — 117 Pavoni & C. Spa 838 1,088 2,043 4,951 — — Covalent Lithium Pty Ltd. 1,865 1,931 — 494 — — Total 33,033 12,913 2,043 15,280 — 117 Depreciation and amortization expense Interest expense Income tax benefit (expense) Joint Venture As of As of As of As of As of As of ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ SQM Vitas Fzco. — — (1) (1) — — SQM Vitas Brasil Agroindustria — (331) — (333) — (3,164) SQM Vitas Perú S.A.C. (513) (360) (220) (298) 2,013 (2,370) Pavoni & C. Spa (213) (183) (418) (347) (392) (459) Covalent Lithium Pty Ltd. (691) (176) (16) (40) (107) 1,094 Total (1,417) (1,050) (655) (1,019) 1,514 (4,899) |
Cash and cash equivalents (Tabl
Cash and cash equivalents (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Cash and cash equivalents [abstract] | |
Schedule of cash and cash equivalents | As of December 31, 2023 and 2022, cash and cash equivalents are detailed as follows: Cash As of As of ThUS$ ThUS$ Cash on hand 33 43 Cash in banks 676,282 529,606 Other demand deposits 709 — Total Cash 677,024 529,649 Cash equivalents As of As of ThUS$ ThUS$ Short-term deposits, classified as cash equivalents 23,545 1,099,441 Short-term investments, classified as cash equivalents 340,800 1,026,146 Total cash equivalents 364,345 2,125,587 Total cash and cash equivalents 1,041,369 2,655,236 |
Schedule of short-term investments | As of December 31, 2023 and 2022, the short-term investments classified as cash equivalents relate to mutual funds (investment liquidity funds) for investments in: Institution As of As of ThUS$ ThUS$ Legg Mason - Western Asset Institutional Cash Reserves 312,924 590,661 JP Morgan US dollar Liquidity Fund Institutional 22,845 435,485 Banco Crédito e Inversiones 5,031 — Total 340,800 1,026,146 |
Schedule of restricted cash balances | As of December 31, 2023 and 2022, pledged assets are as follows Restricted cash balances As of As of ThUS$ ThUS$ Isapre Norte Grande Ltda. 950 717 Total 950 717 |
Schedule of detailed information about short-term deposits | The detail at the end of each balance date is as follows: Receiver of the deposit Type of deposit Original Interest Rate Placement date Expiration date Principal Interest As of ThUS$ ThUS$ ThUS$ Banco Santander Fixed term Dollar 0.39 % 12-11-2023 01-05-2024 5,000 16 5,016 Banco Santander Fixed term Dollar 0.28 % 12-21-2023 01-08-2024 1,300 2 1,302 Banco Crédito e Inversiones Fixed term Dollar 0.80 % 12-28-2023 02-16-2024 1,000 — 1,000 Itaú Corpbanca Fixed term Dollar 0.27 % 12-18-2023 01-05-2024 3,000 6 3,006 Itaú Corpbanca Fixed term Dollar 0.54 % 12-04-2023 01-08-2024 2,000 8 2,008 Scotiabank Sud Americano Fixed term Dollar 0.45 % 12-18-2023 01-16-2024 2,700 5 2,705 Scotiabank Sud Americano Fixed term Dollar 0.23 % 12-20-2023 01-04-2024 2,200 4 2,204 Scotiabank Sud Americano Fixed term Dollar 0.16 % 12-29-2023 01-05-2024 1,140 1 1,141 Scotiabank Sud Americano Fixed term Dollar 0.78 % 12-13-2023 01-31-2024 700 2 702 Banco de Chile Fixed term Dollar 0.70 % 12-27-2023 02-09-2024 1,850 1 1,851 Banco de Chile Fixed term Dollar 1.02 % 12-04-2023 02-05-2024 1,300 6 1,306 Banco de Chile Fixed term Dollar 0.77 % 12-14-2023 01-31-2024 1,300 4 1,304 Total 23,490 55 23,545 Receiver of the deposit Type of deposit Original Interest Rate Placement date Expiration date Principal Interest As of ThUS$ ThUS$ ThUS$ Banco Crédito e Inversiones Fixed term Peso 0.95 % 11-17-2022 01-25-2023 42,998 609 43,607 Banco Crédito e Inversiones Fixed term Peso 0.94 % 12-15-2022 01-25-2023 100,817 537 101,354 Itaú Corpbanca Fixed term Peso 0.96 % 12-06-2022 01-05-2023 41,421 343 41,764 Itaú Corpbanca Fixed term Peso 0.96 % 12-12-2022 01-25-2023 100,660 644 101,304 Itaú Corpbanca Fixed term Peso 0.95 % 11-17-2022 01-25-2023 32,248 458 32,706 Itaú Corpbanca Fixed term Peso 0.95 % 11-16-2022 01-25-2023 73,831 1,070 74,901 Itaú Corpbanca Fixed term Peso 0.96 % 12-13-2022 01-25-2023 30,146 183 30,329 Santander Fixed term Peso 0.95 % 12-16-2022 01-25-2023 103,288 523 103,811 Santander Fixed term Peso 0.94 % 12-06-2022 01-05-2023 20,710 168 20,878 Scotiabank Sud Americano Fixed term Peso 0.96 % 12-12-2022 01-25-2023 50,330 322 50,652 Scotiabank Sud Americano Fixed term Peso 0.98 % 12-13-2022 01-25-2023 100,487 621 101,108 Scotiabank Sud Americano Fixed term Peso 0.96 % 12-13-2022 01-25-2023 70,341 428 70,769 Scotiabank Sud Americano Fixed term Peso 0.97 % 12-14-2022 01-25-2023 100,258 584 100,842 Scotiabank Sud Americano Fixed term Dollar 4.54 % 11-21-2022 01-25-2023 82,000 424 82,424 Sumitomo Mitsui Banking Fixed term Dollar 4.54% 11-21-2022 01-25-2023 122,000 631 122,631 Banco Crédito e Inversiones Fixed term Dollar 0.42% 12-06-2022 01-06-2023 2,000 7 2,007 Banco Crédito e Inversiones Fixed term Dollar 0.44% 12-01-2022 01-03-2023 1,500 6 1,506 Banco Crédito e Inversiones Fixed term Peso 0.22% 12-30-2022 01-06-2023 2,103 1 2,104 Banco de Chile Fixed term Dollar 0.95% 12-12-2022 02-14-2023 600 2 602 Itaú Corpbanca Fixed term Dollar 1.02% 12-13-2022 02-16-2023 500 2 502 Itaú Corpbanca Fixed term Dollar 0.46% 11-30-2022 01-03-2023 1,000 4 1,004 Itaú Corpbanca Fixed term Dollar 0.42% 12-06-2022 01-06-2023 700 2 702 Itaú Corpbanca Fixed term Dollar 1.07% 12-21-2022 02-27-2023 1,700 3 1,703 Scotiabank Sud Americano Fixed term Dollar 0.66% 12-07-2022 01-27-2023 1,000 3 1,003 Scotiabank Sud Americano Fixed term Dollar 0.64% 11-16-2022 01-03-2023 2,500 15 2,515 Scotiabank Sud Americano Fixed term Dollar 0.72% 12-28-2022 02-13-2023 2,200 1 2,201 Scotiabank Sud Americano Fixed term Dollar 0.96% 12-30-2022 03-03-2023 500 — 500 Scotiabank Sud Americano Fixed term Dollar 0.58% 11-22-2022 01-03-2023 1,500 8 1,508 Scotiabank Sud Americano Fixed term Dollar 0.38% 12-16-2022 01-13-2023 1,500 3 1,503 Scotiabank Sud Americano Fixed term Dollar 0.87% 12-22-2022 02-16-2023 1,000 1 1,001 Total 1,091,838 7,603 1,099,441 |
Inventories (Table)
Inventories (Table) | 12 Months Ended |
Dec. 31, 2023 | |
Inventories | |
Schedule of detailed information about inventories | The composition of inventory at each period-end is as follows: Type of inventory As of As of ThUS$ ThUS$ Raw material 61,098 27,035 Production supplies 77,810 68,426 Products-in-progress 744,217 590,946 Finished product 891,469 1,097,874 Total 1,774,594 1,784,281 |
Schedule of information about inventory reserves | The breakdown of inventory allowances is detailed as follows: Type of inventory As of As of ThUS$ ThUS$ Raw material and supplies for production 7,724 4,186 Products-in-progress 104,970 83,499 Finished product 21,074 16,372 Total 133,768 104,057 |
Schedule of movements in provisions of inventories | As of December 31, 2023, and 2022, movements in provisions are detailed as follows: Reconciliation As of As of As of ThUS$ ThUS$ ThUS$ Beginning balance 104,057 75,892 80,930 Increase in Lower Value 32,926 29,693 (3,650) Additional Provision Differences of Inventory 455 (161) 330 Increase / Decrease eventual differences and others — — — Provision Used (3,670) (1,367) (1,718) Total changes 29,711 28,165 (5,038) Final balance 133,768 104,057 75,892 |
Related party disclosures (Tabl
Related party disclosures (Table) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of transactions between related parties [abstract] | |
Schedule of detailed information about related parties | As of December 31, 2023 and 2022, the detail of entities that are identified as subsidiaries or related parties of the SQM Group is as follows: Tax ID No Name Country of origin Functional currency Nature Foreign Nitratos Naturais Do Chile Ltda. Brazil Dollar Subsidiary Foreign SQM North America Corp. United States Dollar Subsidiary Foreign SQM Europe N.V. (4) Belgium Dollar Subsidiary Foreign Soquimich European Holding B.V. Netherlands Dollar Subsidiary Foreign SQM Corporation N.V. Curacao Dollar Subsidiary Foreign SQM Comercial De México S.A. de C.V. Mexico Dollar Subsidiary Foreign North American Trading Company United States Dollar Subsidiary Foreign Administración y Servicios Santiago S.A. de C.V. Mexico Dollar Subsidiary Foreign SQM Perú S.A. (2) Peru Dollar Subsidiary Foreign SQM Ecuador S.A. Ecuador Dollar Subsidiary Foreign SQM Nitratos Mexico S.A. de C.V. Mexico Dollar Subsidiary Foreign SQMC Holding Corporation L.L.P. United States Dollar Subsidiary Foreign SQM Investment Corporation N.V. Curacao Dollar Subsidiary Foreign SQM Brasil Limitada Brazil Dollar Subsidiary Foreign SQM France S.A. France Dollar Subsidiary Foreign SQM Japan Co. Ltd. Japan Dollar Subsidiary Foreign Royal Seed Trading Corporation A.V.V. Aruba Dollar Subsidiary Foreign SQM Oceania Pty Limited Australia Dollar Subsidiary Foreign Rs Agro-Chemical Trading Corporation A.V.V. Aruba Dollar Subsidiary Foreign SQM Indonesia S.A. Indonesia Dollar Subsidiary Foreign SQM Virginia L.L.C. United States Dollar Subsidiary Foreign Comercial Caimán Internacional S.A. (3) Panama Dollar Subsidiary Foreign SQM África Pty. Ltd. South Africa Dollar Subsidiary Foreign SQM Colombia SAS Colombia Dollar Subsidiary Foreign SQM Internacional N.V. Belgium Dollar Subsidiary Foreign SQM -Shanghai Chemicals Co. Ltd. China Dollar Subsidiary Foreign SQM Lithium Specialties LLC United States Dollar Subsidiary Foreign SQM Iberian S.A. Spain Dollar Subsidiary Foreign SQM Beijing Commercial Co. Ltd. China Dollar Subsidiary Foreign SQM Thailand Limited Thailand Dollar Subsidiary Foreign SQM Australia PTY Australia Dollar Subsidiary Tax ID No Name Country of origin Functional currency Nature Foreign SQM Holland B.V. Netherlands Dollar Subsidiary Foreign SQM Korea LLC Korea Dollar Subsidiary 96.801.610-5 Comercial Hydro S.A. Chile Dollar Subsidiary 96.651.060-9 SQM Potasio S.A. Chile Dollar Subsidiary 96.592.190-7 SQM Nitratos S.A. Chile Dollar Subsidiary 96.592.180-K Ajay SQM Chile S.A. Chile Dollar Subsidiary 79.947.100-0 SQM Industrial S.A. Chile Dollar Subsidiary 79.906.120-1 Isapre Norte Grande Ltda. Chile Peso Subsidiary 79.876.080-7 Almacenes y Depósitos Ltda. Chile Peso Subsidiary 79.770.780-5 Servicios Integrales de Tránsitos y Transferencias S.A. Chile Dollar Subsidiary 79.768.170-9 Soquimich Comercial S.A. Chile Dollar Subsidiary 79.626.800-K SQM Salar S.A. Chile Dollar Subsidiary 76.534.490-5 Sociedad Prestadora de Servicios de Salud Cruz del Norte S.A. Chile Peso Subsidiary 76.425.380-9 Exploraciones Mineras S.A. Chile Dollar Subsidiary 76.064.419-6 Comercial Agrorama Ltda. Chile Peso Subsidiary 76.145.229-0 Agrorama S.A. Chile Peso Subsidiary 76.359.919-1 Orcoma Estudios SPA Chile Dollar Subsidiary 76.360.575-2 Orcoma SPA Chile Dollar Subsidiary 76.686.311-9 SQM MaG SpA Chile Dollar Subsidiary 77.114.779-8 Sociedad Contractual Minera Bufalo Chile Dollar Subsidiary Foreign Ajay North America United States Dollar Associate Foreign Abu Dhabi Fertilizer Industries WWL United Arab Emirates Arab Emirates dirham Associate Foreign Ajay Europe SARL France Euro Associate Foreign Electronic era Technologies Inc. United States Dollar Associate Foreign Altilium Metals Ltd. United Kingdom Pound Sterling Associate Foreign SAS Adionics France Euro Associate Foreign Pirra Lithium Pty Ltd. Australia Australian Dollar Associate Foreign SQM Vitas Fzco. United Arab Emirates Arab Emirates dirham Joint venture Foreign Covalent Lithium Pty Ltd. Australia Dollar Joint venture Foreign Pavoni & C, SPA Italy Euro Joint venture 96.511.530-7 Sociedad de Inversiones Pampa Calichera Chile Dollar Other related parties 96.529.340-K Norte Grande S.A. Chile Peso Other related parties Foreign SQM Vitas Brasil Agroindustria (6) Brazil Brazilian real Other related parties Foreign SQM Vitas Perú S.A.C. (1) Peru Dollar Other related parties _______________________________________________ (1) These Companies are subsidiaries of the joint venture SQM Vitas Fzco. (2) This Company was liquidated in December 2022. (3) This Company was liquidated in March 2023. (4) On July 1, 2023, SQM Europe N.V. absorbed SQM International N.V. (5) This new company was incorporated on December 11, 2023. (6) |
Schedule of related parties corresponding to mining contractual corporations | The following other related parties correspond to mining contractual corporations. Tax ID No. Name Country of origin Functional currency Relationship N/A Sociedad Contractual Minera Pampa Unión Chile Peso Other related parties |
Schedule of transactions with entities who are affiliated to the key managerial personnel | Below is a list of transactions with clients and suppliers with whom a relationship with key Company personnel was identified: Tax ID No Name Country of origin Nature 90.193.000-7 El Mercurio S.A.P. Chile Other related parties 92.580.000-7 Empresa Nacional de Telecomunicaciones S.A. Chile Other related parties 96.806.980-2 Entel PCS Telecomunicaciones S.A. Chile Other related parties 97.004.000-5 Banco de Chile Chile Other related parties 99.012.000-5 Compañía de Seguros de Vida Consorcio Nacional Chile Other related parties 65.614.340-1 Corporación Endeavor Chile Chile Other related parties 82.135.600-8 Instituto Chileno administración empresas Chile Other related parties 96.532.830-0 Sociedad Inversiones Oro Blanco S.A. Chile Other related parties |
Schedule of significant transactions with related parties | For the year ended December 31, 2023, 2022 and 2021, the detail of significant transactions with related parties is as follows Tax ID No Name Nature Country of origin Transaction For the year ended For the year ended For the year ended ThUS$ ThUS$ ThUS$ Foreign Ajay Europe S.A.R.L. Associate France Sale of products 45,314 45,205 35,597 Foreign Ajay Europe S.A.R.L. Associate France Dividends 4,682 1,778 992 Foreign Ajay North America LL.C. Associate United States Sale of products 30,791 41,814 27,763 Foreign Ajay North America LL.C. Associate United States Dividends 4,013 1,576 1,233 Foreign Abu Dhabi Fertilizer Industries WWL Associate United Arab Emirates Dividends 633 3,000 9,438 Foreign SQM Vitas Brasil Agroindustria Other related parties Brazil Sale of products 9,019 51,748 79,086 Foreign SQM Vitas Perú S.A.C. Other related parties Perú Sale of products 17,312 58,077 17,016 Foreign Coromandel SQM India Joint venture India Sale of products — — 1,814 Foreign Pavoni & CPA Joint venture Italy Sale of products 5,541 4,138 5,359 Chile Banco de Chile Other related parties Chile Service Provider (32,418) (27,918) (20,904) Chile El Mercurio S.A.P. Other related parties Chile Service Provider (1,038) (90) (131) Chile Compañía de Seguros de Vida Consorcio Nacional Other related parties Chile Service Provider (33) (31) (134) Chile Entel PCS Telecomunicaciones S.A. Other related parties Chile Service Provider (182) (228) (157) Chile Gonzalo Guerrero Yamamoto Other related parties Chile Service Provider — (19) (79) Chile Empresa Nacional de Telecomunicaciones Other related parties Chile Service Provider (3,485) (1,746) (2,393) Chile Instituto Chileno administración empresas Other related parties Chile Service Provider (134) (46) — Chile Fundación para el desarrollo social Other related parties Chile Service Provider — (7) — Chile Corporación Endeavor Chile Other related parties Chile Service Provider (101) — — |
Schedule of trade receivables due from related parties | Tax ID No Name Nature Country of origin Currency As of As of ThUS$ ThUS$ Foreign Ajay Europe S.A. R.L. Associate France Euro 8,932 7,967 Foreign Ajay North America LLC. Associate United States of America Dollar 4,393 8,354 96.511.530-7 Soc. de Inversiones Pampa Calichera Other related parties Chile Dollar 5 5 Foreign SQM Vitas Brasil Agroindustria Other related parties Brazil Dollar — 32,054 Foreign SQM Vitas Perú S.A.C. Other related parties Peru Dollar 27,115 31,081 Foreign SQM Vitas Fzco. Joint venture United Arab Emirates United Arab Emirates Dirham 232 232 Foreign Pavoni & C SpA Joint venture Italy Euro 2,576 888 Foreign Covalent Lithium Pty Ltd. Joint venture Australia Australian dollar — 1,041 Total 43,253 81,622 |
Schedule of other related party disclosures | Tax ID No Name Nature Country of origin Currency As of As of ThUS$ ThUS$ Foreign Covalent Lithium Pty Ltd. Joint venture Australia Australian dollar 2,346 — Total 2,346 — |
Financial instruments (Tables)
Financial instruments (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of detailed information about financial instruments [abstract] | |
Schedule of other current and non-current financial assets | Description of other financial assets As of As of ThUS$ ThUS$ Financial assets at amortized cost (1) 1,316,797 950,167 Derivative financial instruments - For hedging 8,527 7,014 - Non-hedging (2) 519 4,174 Total other current financial assets 1,325,843 961,355 Financial assets at fair value through other comprehensive income (4) 232,268 9,497 Derivative financial instruments - For hedging 15,993 22,606 Other financial assets at amortized cost 20 23 Total other non-current financial assets 248,281 32,126 |
Schedule of detailed information about other non-current financial assets | Institution As of As of ThUS$ ThUS$ Banco de Crédito e Inversiones 74,459 187,707 Banco Morgan Stanley (3) 5,590 — Banco Santander 100,083 51,444 Banco Itau CorpBanca 372,061 15,048 Banco Estado — 85,055 Banco de Chile — 150,259 Scotiabank Sud Americano 672,720 250,362 Sumitomo Mitsui Banking 91,884 210,292 Total 1,316,797 950,167 ________________________________________________ (1) Corresponds to term deposits whose maturity date is greater than 90 days and less than 360 days from the investment date constituted in the aforementioned financial institutions. (2) Correspond to forwards and options that were not classified as hedging instruments (See detail in Note 12.3). (3) As of December 31, 2023, collateral guarantees total ThUS$ 5,590, which are related to hedging derivative instruments.. As of December 31, 2022, there were no collateral guarantees. (4) During the first quarter of 2023, the Company made an investment of ThUS$13,480 to acquire a 19.99% interest in Azure Minerals Limited (a company listed on the Australian Stock Exchange). The Company and Azure have entered into an acquisition agreement under which the Company has the right to choose a director and acquire 25% of all lithium products in which Azure has an interest on commercially competitive market terms. During the third and fourth quarter, the Company invested an additional ThUS$12,904 and ThUS$4,317, respectively, to maintain its ownership interest. As of December 31, 2023, the Company did not exercise significant influence over this entity and therefore this investment has been recognized as a financial instrument at fair value with changes in other comprehensive income on an irrevocable basis. The impact on other comprehensive income amounts to ThUS$135,358, net of tax. |
Schedule of trade and other receivables | As of December 31, 2023 As of December 31, 2022 Trade and other receivables Current Non-current Total Current Non-current Total ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Trade receivables, current 784,422 — 784,422 1,002,223 — 1,002,223 Prepayments, current 74,630 — 74,630 38,709 — 38,709 Other receivables, current 18,163 2,559 20,722 16,648 2,091 18,739 Guarantee deposits (1) 29,966 — 29,966 29,840 — 29,840 Total trade and other receivables 907,181 2,559 909,740 1,087,420 2,091 1,089,511 See discussion about credit risk in Note 4.2. As of December 31, 2023 As of December 31, 2022 Trade and other receivables Gross Impairment Trade receivables, Gross Impairment Trade receivables, ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Receivables related to credit operations, current 787,667 (3,245) 784,422 1,006,982 (4,759) 1,002,223 Prepayments, current 75,414 (784) 74,630 39,493 (784) 38,709 Other receivables, current 21,209 (3,046) 18,163 19,920 (3,272) 16,648 Guarantee deposits (1) 29,966 — 29,966 29,840 — 29,840 Other receivables, non-current 2,559 — 2,559 2,091 — 2,091 Total trade and other receivables 916,815 (7,075) 909,740 1,098,326 (8,815) 1,089,511 (1) |
Schedule of impairment provision for doubtful receivables | As of December 31, 2023 Trade accounts receivable days past due Trade and other receivables Current 1 to 30 days 31 to 60 days 61 to 90 days Over 90 days Trade Trade receivables ThUS$ ThUS$ Expected Loss Rate on 0% 2 % 7 % 2 % 39 % — — Total Gross Book Value 758,781 18,732 2,684 3,509 3,961 787,667 44,053 Impairment Estimate 1,007 422 197 67 1,552 3,245 800 As of December 31, 2022 Trade accounts receivable days past due Trade receivables Trade and other receivables Current 1 to 30 days 31 to 60 days 61 to 90 days Over 90 days Trade ThUS$ ThUS$ Expected Loss Rate on 0% 1 % 7 % 6 % 81 % — — Total Gross Book Value 968,129 30,187 1,457 3,336 3,873 1,006,982 83,000 Impairment Estimate 948 391 108 186 3,126 4,759 1,378 |
Schedule of movements in provisions | As of December 31, 2023, and 2022, movements in provisions are as follows: Provisions As of As of As of ThUS$ ThUS$ ThUS$ Impairment provision of Accounts receivable at the beginning of the year 10,193 14,716 27,273 Increase (decrease) impairment of accounts receivable (202) (3,369) 235 Write-off of receivables (1,351) — (11,091) Difference in exchange rate (765) (1,154) (1,701) Impairment provision of Accounts Receivable Provision at the end of the year 7,875 10,193 14,716 Trade and other Receivables Provision 3,245 4,759 10,352 Current other Receivables Provision 3,830 4,056 3,647 Trade receivables with related parties, current Provision 800 1,378 717 Recovery of Insurrance — — 210 Impairment provision of Accounts Receivable 7,875 10,193 14,716 |
Schedule of derivative financial instruments classified as hedges | As of December 31, 2023 Assets Liabilities Total Realized Hedging Reserve in Type of Instrument: Cross currency interest rate swaps and Forwards Cash flow hedge derivatives Short term 7,038 30,442 — — Long term 15,993 8,368 — — Subtotal 23,031 38,810 (13,067) (2,712) Type of Instrument: Forwards Non-hedging derivates disbursement SQM Australia Pty Short term 1,489 — — — Long term — 52 — 1,437 Subtotal 1,489 52 — 1,437 Underlying Investments Hedge 24,520 38,862 (13,067) (1,275) Type of Instrument: Forwards/Options Non-hedge derivates with effect on income Short term 519 14,795 — — Underlying Investments Hedge 519 14,795 5,401 — Total Instruments 25,039 53,657 (7,666) (1,275) The Company recouponed the CCS with Santander Bank who had hedged the Series Q bond, by moving the UF/USD exchange rate upwards. This change increased the USD value of the bond by ThUS$16,440 and its interest payable. Santander Bank paid the company ThUS$17,320 on August 18, 2023 in exchange for this amendment. As of December 31, 2022 Assets Liabilities Total Realized Hedging Reserve in Type of Instrument: Cross currency interest rate swaps and Forwards Cash flow hedge derivatives Short term 7,014 42,754 — — Long term 15,467 19,772 — — Subtotal 22,481 62,526 (12,939) (27,106) Type of Instrument: Forwards Non-hedging derivates disbursement SQM Australia Pty Long term 7,139 — — 7,139 Subtotal 7,139 — — 7,139 Underlying Investments Hedge 29,620 62,526 (12,939) (19,967) Type of Instrument: Forwards/Options Non-hedge derivates with effect on income Short term 4,174 5,816 — — Underlying Investments Hedge 4,174 5,816 38,653 — Total Instruments 33,794 68,342 25,714 (19,967) ________________________________________________ (1) See underlying hedges in Note 4.2 letters b) and d) and movement of cash flow hedge reserve in Note 19.4. |
Schedule of asset and liability hedging derivatives | Reconciliation of asset and As of December Cash Flow Income Statement Equity and Others As of December Hedge-to-debt derivatives (10,061) (14,850) 6,631 20,800 2,520 Hedging derivatives to investment (29,984) (10,082) 18,171 3,595 (18,300) Non-hedging derivatives disbursement SQM Australia Pty asset 7,139 1,183 (1,183) (5,702) 1,437 Non-hedging derivatives (1,642) (18,034) 5,401 — (14,275) Reconciliation of asset and As of December Cash Flow Income Statement Equity and Others As of December Hedge-to-debt derivatives (81,597) 8,616 37,494 25,426 (10,061) Hedging derivatives to investment 12,613 (52,698) 16,104 (6,003) (29,984) Non-hedging derivatives disbursement SQM Australia Pty asset — 2,022 — 5,117 7,139 Non-hedging derivatives (418) (39,878) 38,653 — (1,642) |
Schedule of derivative contract maturities | Derivative contract maturities are detailed as follows: Series Contract amount Currency Maturity date ThUS$ H 91,718 UF 01/05/2024 O 58,748 UF 02/01/2030 P 134,228 UF 01/15/2028 Q 123,370 UF 06/01/2030 |
Schedule of financial liabilities | As of December 31, 2023, and 2022, the detail is as follows: As of December 31, 2023 As of December 31, 2022 Other current and non-current financial Currents Non-Current Total Currents Non-Current Total ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Liabilities at amortized cost Bank borrowings 1,164,262 295,518 1,459,780 130,840 197,522 328,362 Unsecured obligations 46,999 2,909,485 2,956,484 343,589 2,176,924 2,520,513 Derivative financial instruments For hedging 30,443 8,419 38,862 42,754 19,772 62,526 Non-Hedging 14,795 — 14,795 5,816 — 5,816 Total 1,256,499 3,213,422 4,469,921 522,999 2,394,218 2,917,217 |
Schedule of information about short-term bank borrowings | As of December 31, 2023, the detail of this caption is as follows: Debtor Creditor Currency or Tax ID No Company Country Tax ID No. Financial institution Country Repayment maturity Effective rate Nominal rate 93.007.000-9 SQM S.A. Chile O-E Bank of Nova Scotia United States of America Dollar Upon maturity 06/21/2024 5.88 % 6.64 % 93.007.000-9 SQM S.A. Chile O-E Banco Santander/Kexim Spain/South Korea Dollar Upon maturity 06/21/2024 4.49 % 6.36 % 93.007.000-9 SQM S.A. Chile 97.043.000-8 JP Morgan Chile Dollar Upon maturity 05/28/2024 6.69 % 6.69 % 93.007.000-9 SQM S.A. Chile 97.036.000-K Banco Santander Chile Dollar Upon maturity 05/17/2024 5.95 % 5.95 % 93.007.000-9 SQM S.A. Chile 97.036.000-K Banco Santander Chile Dollar Upon maturity 08/26/2024 6.88 % 6.88 % 93.007.000-9 SQM S.A. Chile 97.018.000-1 Scotiabank Chile Chile Dollar Upon maturity 05/30/2024 6.19 % 6.19 % 93.007.000-9 SQM S.A. Chile 97.030.000-7 Banco Estado Chile Dollar Upon maturity 02/20/2024 6.18 % 6.18 % 93.007.000-9 SQM S.A. Chile 97.030.000-7 Banco Estado Chile Dollar Upon maturity 06/10/2024 6.19 % 6.19 % 93.007.000-9 SQM S.A. Chile 97.006.000-6 BCI Chile Dollar Upon maturity 04/18/2024 6.01 % 6.01 % 93.007.000-9 SQM S.A. Chile 97.006.000-6 BCI Chile Dollar Upon maturity 10/17/2024 5.84 % 6.46 % 93.007.000-9 SQM S.A. Chile 97.006.000-6 BCI Chile Dollar Upon maturity 05/24/2024 6.17 % 6.17 % 93.007.000-9 SQM S.A. Chile 97.023.000-9 Banco Itau Chile Dollar Upon maturity 07/05/2024 6.50 % 6.50 % 79.947.100-0 SQM Industrial S.A. Chile 97.004.000-5 Banco de Chile Chile Dollar Upon maturity 05/16/2024 5.85 % 5.85 % 79.947.100-0 SQM Industrial S.A. Chile 97.023.000-9 Banco Itau Chile Dollar Upon maturity 07/05/2024 6.50 % 6.50 % 79.626.800-K SQM Salar S.A. Chile 97.023.000-9 Banco Itau Chile Dollar Upon maturity 07/05/2024 6.50 % 6.50 % 79.626.800-K SQM Salar S.A. Chile 97.023.000-9 Banco Itau Chile Dollar Upon maturity 07/05/2024 6.50 % 6.50 % 79.626.800-K SQM Salar S.A. Chile 97.018.000-1 Scotiabank Chile Chile Dollar Upon maturity 05/17/2024 6.07 % 6.07 % 79.626.800-K SQM Salar S.A. Chile 97.018.000-1 Scotiabank Chile Chile Dollar Upon maturity 05/30/2024 6.19 % 6.19 % 79.626.800-K SQM Salar S.A. Chile 97.030.000-7 Banco Estado Chile Dollar Upon maturity 07/18/2024 5.92 % 6.15 % 79.626.800-K SQM Salar S.A. Chile 97.030.000-7 Banco Estado Chile Dollar Upon maturity 06/10/2024 6.19 % 6.19 % 79.626.800-K SQM Salar S.A. Chile 97.004.000-5 Banco de Chile Chile Dollar Upon maturity 05/16/2024 5.85 % 5.85 % 79.626.800-K SQM Salar S.A. Chile 97.004.000-5 Banco de Chile Chile Dollar Upon maturity 06/21/2024 6.25 % 6.25 % Debtor Creditor Nominal amounts as of December 31, 2023 Current amounts as of December 31, 2023 Company Financial institution Up to 90 days 90 days to 1 year Total Up to 90 days 90 days to 1 Subtotal Borrowing Total ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ SQM S.A. Bank of Nova Scotia — — — — 406 406 — 406 SQM S.A. Banco Santander — 120,000 120,000 — 124,383 124,383 — 124,383 SQM S.A. Banco Santander — 200,000 200,000 — 204,625 204,625 — 204,625 SQM S.A. Banco JP Morgan — 50,000 50,000 — 50,288 50,288 — 50,288 SQM S.A. Banco Santander/Kexim — — — — 177 177 — 177 SQM S.A. Scotiabank Chile — 25,000 25,000 — 25,898 25,898 — 25,898 SQM S.A. Banco Estado 15,000 — 15,000 15,569 — 15,569 — 15,569 SQM S.A. Banco Estado — 20,000 20,000 — 20,695 20,695 — 20,695 SQM S.A. BCI — 100,000 100,000 — 104,176 104,176 — 104,176 SQM S.A. BCI — 100,000 100,000 — 101,238 101,238 — 101,238 SQM S.A. BCI — 50,000 50,000 — 51,825 51,825 — 51,825 SQM S.A. Banco Itau — 10,000 10,000 — 10,309 10,309 — 10,309 SQM Industrial S.A. Banco de Chile — 30,000 30,000 — 31,077 31,077 — 31,077 SQM Industrial S.A. Banco Itau — 20,000 20,000 — 20,618 20,618 — 20,618 SQM Salar S.A. Banco Itau — 10,000 10,000 — 10,311 10,311 — 10,311 SQM Salar S.A. Banco Itau — 20,000 20,000 — 20,618 20,618 — 20,618 SQM Salar S.A. Scotiabank Chile — 50,000 50,000 — 51,864 51,864 — 51,864 SQM Salar S.A. Scotiabank Chile — 50,000 50,000 — 51,797 51,797 — 51,797 SQM Salar S.A. Banco Estado — 70,000 70,000 — 71,913 71,913 — 71,913 SQM Salar S.A. Banco Estado — 80,000 80,000 — 82,779 82,779 — 82,779 SQM Salar S.A. Banco de Chile — 40,000 40,000 — 41,436 41,436 — 41,436 SQM Salar S.A. Banco de Chile — 70,000 70,000 — 72,260 72,260 — 72,260 Total 15,000 1,115,000 1,130,000 15,569 1,148,693 1,164,262 — 1,164,262 As of December 31, 2022 Debtor Creditor Currency or Tax ID No Company Country Tax ID No. Financial institution Country Repayment maturity Effective rate Nominal rate 93.007.000-9 SQM S.A. Chile O-E Scotiabank Cayman United States of America Dollar Upon maturity 05/30/2023 0.97 % 5.22 % 93.007.000-9 SQM S.A. Chile 97.023.000-9 Banco Itau Chile Dollar Upon maturity 01/05/2023 4.50 % 4.50 % 93.007.000-9 SQM S.A. Chile 97.030.000-7 Banco Estado Chile Dollar Upon maturity 01/05/2023 4.59 % 4.59 % Debtor Creditor Nominal amounts as of December 31, 2022 Current amounts as of December 31, 2022 Up to 90 days 90 days to Total Up to 90 days 90 days to 1 Subtotal Borrowing Total Company Financial institution ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ SQM S.A. Scotiabank Cayman — 70,000 70,000 — 70,393 70,393 (149) 70,244 SQM S.A. Banco Itau 20,000 — 20,000 20,062 — 20,062 — 20,062 SQM S.A. Banco Estado 40,000 — 40,000 40,128 — 40,128 — 40,128 SQM S.A. Scotiabank — — — 406 — 406 — 406 Total 60,000 70,000 130,000 60,596 70,393 130,989 (149) 130,840 |
Schedule of current maturities of unsecured obligations | As of December 31, 2023, the detail of current unsecured interest-bearing obligations is composed of promissory notes and bonds, as follows: Debtor Number of Currency or Periodicity Tax ID No. Company Country Series Maturity date Payment of Repayment Effective rate Nominal rate 93.007.000-9 SQM S.A. Chile — ThUS$250,000 01/28/2024 Dollar Semiannual Upon maturity 0.80 % 4.38 % 93.007.000-9 SQM S.A. Chile — ThUS$450,000 05/07/2024 Dollar Semiannual Upon maturity 2.39 % 4.25 % 93.007.000-9 SQM S.A. Chile — ThUS$400,000 01/22/2024 Dollar Semiannual Upon maturity 3.62 % 4.25 % 93.007.000-9 SQM S.A. Chile — ThUS$700,000 03/10/2024 Dollar Semiannual Upon maturity 3.30 % 3.50 % 93.007.000-9 SQM S.A. Chile — ThUS$750,000 05/07/2024 Dollar Semiannual Upon maturity 6.89 % 6.50 % 93.007.000-9 SQM S.A. Chile 564 H 01/05/2024 UF Semiannual Semiannual 1.58 % 4.90 % 93.007.000-9 SQM S.A. Chile 699 O 02/01/2024 UF Semiannual Upon maturity 1.68 % 3.80 % 93.007.000-9 SQM S.A. Chile 563 P 01/15/2024 UF Semiannual Upon maturity 1.41 % 3.25 % 93.007.000-9 SQM S.A. Chile 700 Q 06/01/2024 UF Semiannual Upon maturity 2.41 % 3.45 % Effective rates of bonds in Pesos and UF are expressed and calculated in Dollars based on the flows agreed in Cross Currency Swap Agreements. Nominal amounts as of December 31, 2023 Carrying amounts of maturities as of December 31, 2023 Company Country Series Up to 90 90 days to 1 Total Up to 90 days 90 days to Subtotal Borrowing Total ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ SQM S.A. Chile ThUS$250,000 4,648 — 4,648 4,648 — 4,648 (433) 4,215 SQM S.A. Chile ThUS$450,000 — 2,869 2,869 — 2,869 2,869 (677) 2,192 SQM S.A. Chile ThUS$400,000 7,508 — 7,508 7,508 — 7,508 (235) 7,273 SQM S.A. Chile ThUS$700,000 7,554 — 7,554 7,554 — 7,554 (555) 6,999 SQM S.A. Chile ThUS$750,000 — 7,312 7,312 — 7,312 7,312 (1,521) 5,791 SQM S.A. Chile H 17,599 — 17,599 17,599 — 17,599 (172) 17,427 SQM S.A. Chile O 987 — 987 987 — 987 (82) 905 SQM S.A. Chile P 1,871 — 1,871 1,871 — 1,871 (12) 1,859 SQM S.A. Chile Q — 359 359 — 359 359 (21) 338 Total 40,167 10,540 50,707 40,167 10,540 50,707 (3,708) 46,999 Debtor Number of Currency or Periodicity Tax I No. Company Country Series Maturity date Payment of Repayment Effective rate Nominal rate 93.007.000-9 SQM S.A. Chile — ThUS$250,000 01/28/2023 Dollar Semiannual Upon maturity 1.17 % 4.38 % 93.007.000-9 SQM S.A. Chile — ThUS$300,000 04/03/2023 Dollar Semiannual Upon maturity 0.56 % 3.63 % 93.007.000-9 SQM S.A. Chile — ThUS$450,000 05/07/2023 Dollar Semiannual Upon maturity 3.01 % 4.25 % 93.007.000-9 SQM S.A. Chile — ThUS$400,000 01/22/2023 Dollar Semiannual Upon maturity 3.79 % 4.25 % 93.007.000-9 SQM S.A. Chile — ThUS$700,000 03/10/2023 Dollar Semiannual Upon maturity 3.44 % 3.50 % 93.007.000-9 SQM S.A. Chile 564 H 01/05/2023 UF Semiannual Semiannual 1.23 % 4.90 % 93.007.000-9 SQM S.A. Chile 699 O 02/01/2023 UF Semiannual Upon maturity 1.89 % 3.80 % 93.007.000-9 SQM S.A. Chile 563 P 01/15/2023 UF Semiannual Upon maturity 1.72 % 3.25 % 93.007.000-9 SQM S.A. Chile 700 Q 06/01/2023 UF Semiannual Upon maturity 2.63 % 3.45 % Effective rates of bonds in Pesos and UF are expressed and calculated in Dollars based on the flows agreed in Cross Currency Swap Agreements. Nominal amounts as of December 31, 2022 Carrying amounts of maturities as of December 31, 2022 Company Country Series Up to 90 90 days to 1 Total Up to 90 days 90 days to Subtotal Borrowing costs Total ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ SQM S.A. Chile ThUS$250,000 4,648 — 4,648 4,648 — 4,648 (433) 4,215 SQM S.A. Chile ThUS$300,000 — 302,658 302,658 — 302,658 302,658 (170) 302,488 SQM S.A. Chile ThUS$450,000 — 2,869 2,869 — 2,869 2,869 (679) 2,190 SQM S.A. Chile ThUS$400,000 7,508 — 7,508 7,508 — 7,508 (237) 7,271 SQM S.A. Chile ThUS$700,000 — 7,554 7,554 — 7,554 7,554 (555) 6,999 SQM S.A. Chile H 17,566 — 17,566 17,566 — 17,566 (172) 17,394 SQM S.A. Chile O 965 — 965 965 — 965 (82) 883 SQM S.A. Chile P 1,830 — 1,830 1,830 — 1,830 (12) 1,818 SQM S.A. Chile Q — 351 351 — 351 351 (20) 331 Total 32,517 313,432 345,949 32,517 313,432 345,949 (2,360) 343,589 |
Schedule of non-current bank borrowings | The following table shows the details of bank loans as of December 31, 2023: Debtor Creditor Currency or Type of amortization Effective rate Nominal rate Tax ID No. Company Country Tax ID No. Financial institution Country 93.007.000-9 SQM S.A. Chile O-E Bank of Nova Scotia Canada Dollar Upon Maturity 5.88 % 6.64 % 93.007.000-9 SQM S.A. Chile O-E Banco Santander/Kexim Spain/South Korea Dollar Upon Maturity 5.49 % 6.36 % Debtor Creditor Nominal non-current maturities as of December 31, 2023 Carrying amounts of maturities as of December 31, 2023 Company Financial institution Between 1 and 2 Between 2 Between 3 Total Between 1 Between 2 Between 3 Subtotal Costs of Total ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ SQM S.A. Bank of Nova Scotia — 200,000 — 200,000 — 200,000 — 200,000 (1,648) 198,352 SQM S.A. Banco Santander/Kexim — — 100,000 100,000 — — 100,000 100,000 (2,834) 97,166 Total — 200,000 100,000 300,000 — 200,000 100,000 300,000 (4,482) 295,518 As of December 31, 2022 Debtor Creditor Currency or Type of amortization Effective rate Nominal rate Tax ID No. Company Country Tax ID No. Financial institution Country 93.007.000-9 SQM S.A. Chile O-E Scotiabank Cayman United States of America Dollar Upon Maturity 2.33 % 3.19 % 93.007.000-9 SQM S.A. Chile O-E Scotiabank Canada Dollar Upon Maturity 5.10 % 6.08 % Debtor Creditor Nominal non-current maturities as of December 31, 2022 Carrying amounts of maturities as of December 31, 2022 Company Financial institution Between 1 and 2 Between 2 Between 3 Total Between 1 Between 2 Between 3 Subtotal Costs of obtaining loans Total ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ SQM S.A. Scotiabank Cayman — — — — — — — — — — SQM S.A. Scotiabank — 200,000 — 200,000 — 200,000 — 200,000 (2,478) 197,522 Total — 200,000 — 200,000 — 200,000 — 200,000 (2,478) 197,522 |
Schedule of information about non-current maturities of unsecured obligations | The following table shows the details of “unsecured debentures that accrue non-current interest” as of December 31, 2023: Debtor Number of Currency or Periodicity Tax ID No. Company Country Series Maturity date Payment of Repayment Effective rate Nominal rate 93.007.000-9 SQM S.A. Chile — ThUS$250,000 01/28/2025 Dollar Semiannual Upon maturity 4.24 % 4.38 % 93.007.000-9 SQM S.A. Chile — ThUS$450,000 05/07/2029 Dollar Semiannual Upon maturity 4.14 % 4.25 % 93.007.000-9 SQM S.A. Chile — ThUS$400,000 01/22/2050 Dollar Semiannual Upon maturity 4.23 % 4.25 % 93.007.000-9 SQM S.A. Chile — ThUS$700,000 09/10/2051 Dollar Semiannual Upon maturity 3.45 % 3.50 % 93.007.000-9 SQM S.A. Chile — ThUS$750,000 11/07/2033 Dollar Semiannual Upon maturity 6.89 % 6.50 % 93.007.000-9 SQM S.A. Chile 564 H 01/05/2030 UF Semiannual Semiannual 4.76 % 4.90 % 93.007.000-9 SQM S.A. Chile 699 O 02/01/2033 UF Semiannual Upon maturity 3.69 % 3.80 % 93.007.000-9 SQM S.A. Chile 563 P 01/15/2028 UF Semiannual Upon maturity 3.24 % 3.25 % 93.007.000-9 SQM S.A. Chile 700 Q 06/01/2038 UF Semiannual Upon maturity 3.54 % 3.45 % Nominal non-current maturities as of December 31, 2023 Carrying amounts of maturities as of December 31, 2023 Series Over 1 Over 2 Over 3 Over 4 Over 5 Total Over 1 Over 2 Over 3 Over 4 Over 5 Subtotal Bond Total ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$250,000 250,000 — — — — 250,000 250,000 — — — — 250,000 (36) 249,964 ThUS$450,000 — — — — 450,000 450,000 — — — — 450,000 450,000 (2,991) 447,009 ThUS$400,000 — — — — 400,000 400,000 — — — — 400,000 400,000 (5,879) 394,121 ThUS$700,000 — — — — 700,000 700,000 — — — — 700,000 700,000 (14,787) 685,213 ThUS$750,000 — — — — 750,000 750,000 — — — — 750,000 750,000 (13,437) 736,563 H — — — — 83,887 83,887 — — — — 83,887 83,887 (861) 83,026 O — — — — 62,915 62,915 — — — — 62,915 62,915 (659) 62,256 P — — — — 125,830 125,830 — — — — 125,830 125,830 (40) 125,790 Q — — — — 125,830 125,830 — — — — 125,830 125,830 (287) 125,543 Total 250,000 — — — 2,698,462 2,948,462 250,000 — — — 2,698,462 2,948,462 (38,977) 2,909,485 As of December 31, 2022 Debtor Number of Currency or Periodicity Tax ID No. Company Country Series Maturity date Payment of Repayment Effective rate Nominal rate 93.007.000-9 SQM S.A. Chile — ThUS$250,000 01/28/2025 Dollar Semiannual Upon maturity 4.08 % 4.38 % 93.007.000-9 SQM S.A. Chile — ThUS$450,000 05/07/2029 Dollar Semiannual Upon maturity 4.10 % 4.25 % 93.007.000-9 SQM S.A. Chile — ThUS$400,000 01/22/2050 Dollar Semiannual Upon maturity 4.19 % 4.25 % 93.007.000-9 SQM S.A. Chile — ThUS$700,000 09/10/2051 Dollar Semiannual Upon maturity 3.42 % 3.50 % 93.007.000-9 SQM S.A. Chile 564 H 01/05/2030 UF Semiannual Semiannual 4.76 % 4.90 % 93.007.000-9 SQM S.A. Chile 699 O 02/01/2033 UF Semiannual Upon maturity 3.69 % 3.80 % 93.007.000-9 SQM S.A. Chile 563 P 01/15/2028 UF Semiannual Upon maturity 3.24 % 3.25 % 93.007.000-9 SQM S.A. Chile 700 Q 06/01/2038 UF Semiannual Upon maturity 3.43 % 3.45 % Nominal non-current maturities as of December 31, 2022 Carrying amounts of maturities as of December 31, 2022 Series Over 1 Over 2 Over 3 Over 4 Over 5 Total Over 1 Over 2 Over 3 Over 4 Over 5 Subtotal Bond Total ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$250,000 — — 250,000 — — 250,000 — — 250,000 — — 250,000 (469) 249,531 ThUS$450,000 — — — — 450,000 450,000 — — — — 450,000 450,000 (3,666) 446,334 ThUS$400,000 — — — — 400,000 400,000 — — — — 400,000 400,000 (6,112) 393,888 ThUS$700,000 — — — — 700,000 700,000 — — — — 700,000 700,000 (15,341) 684,659 H — — — — 96,967 96,967 — — — — 96,967 96,967 (1,034) 95,933 O — — — — 61,536 61,536 — — — — 61,536 61,536 (741) 60,795 P — — — — 123,072 123,072 — — — — 123,072 123,072 (52) 123,020 Q — — — — 123,073 123,073 — — — — 123,073 123,073 (309) 122,764 Total — — 250,000 — 1,954,648 2,204,648 — — 250,000 — 1,954,648 2,204,648 (27,724) 2,176,924 |
Schedule of trade and other payables | As of December 31, 2023 As of December 31, 2022 Details trade and other payables Current Non-current Current Current Non-current Total ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Accounts payable 441,780 — 441,780 358,711 — 358,711 Other accounts payable 2,163 — 2,163 1,438 — 1,438 Prepayments from customers 5,690 — 5,690 14,640 — 14,640 Total 449,633 — 449,633 374,789 — 374,789 |
Schedule of suppliers current and past due on payments | Amounts according to payment periods as of December 31, 2023 Type of Supplier Up to 30 31 – 60 61 – 90 91 – 120 121 – 365 366 and Total ThUS$ Goods 246,789 2,654 2 — 1,653 — 251,098 Services 142,625 243 4 — 65 — 142,937 Others 50,335 — — — 7 — 50,342 Total 439,749 2,897 6 — 1,725 — 444,377 Amounts according to payment periods as of December 31, 2022 Type of Supplier Up to 30 31 – 60 61 – 90 91 – 120 121 – 365 366 and Total ThUS$ Goods 239,108 786 877 339 — — 241,110 Services 91,499 1,270 73 — 65 — 92,907 Others 34,325 — — — — — 34,325 Total 364,932 2,056 950 339 65 — 368,342 Suppliers past due on payments Amounts according to payment periods as of December 31, 2023 Type of Supplier Up to 30 31 – 60 61 – 90 91 – 120 121 – 365 366 and Total ThUS$ Goods 864 158 77 66 185 — 1,350 Services 1,557 57 24 8 19 — 1,665 Others 10 9 — — 59 — 78 Total 2,431 224 101 74 263 — 3,093 Amounts according to payment periods as of December 31, 2022 Type of Supplier Up to 30 31 – 60 61 – 90 91 – 120 121 – 365 366 and Total ThUS$ Goods 1,294 135 64 24 1,363 — 2,880 Services 1,548 174 20 1 196 — 1,939 Others 136 27 — — 27 — 190 Total 2,978 336 84 25 1,586 — 5,009 |
Schedule of detailed information about financial assets | As of December 31, 2023 As of December 31, 2022 Description of financial assets Current Non-current Total Current Non-current Total ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Cash and cash equivalent 1,041,369 — 1,041,369 2,655,236 — 2,655,236 Trade receivables due from related parties at amortized cost 43,253 — 43,253 81,622 — 81,622 Financial assets measured at amortized cost 1,316,797 20 1,316,817 950,167 23 950,190 Trade and other receivables 907,181 2,559 909,740 1,087,420 2,091 1,089,511 Total financial assets measured at amortized cost 3,308,600 2,579 3,311,179 4,774,445 2,114 4,776,559 Financial instruments for hedging purposes 8,527 15,993 24,520 7,014 22,606 29,620 Derivative financial instruments with effect in profit or loss (no hedge) 519 — 519 4,174 — 4,174 Financial assets classified as available for sale at fair value through other comprehensive income — 232,268 232,268 — 9,497 9,497 Total financial assets at fair value 9,046 248,261 257,307 11,188 32,103 43,291 Total financial assets 3,317,646 250,840 3,568,486 4,785,633 34,217 4,819,850 |
Schedule of detailed information about financial liabilities | As of December 31, 2023 As of December 31, 2022 Description of financial liabilities Current Non-current Total Current Non-current Total ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ For hedging purposes through other comprehensive income 30,443 8,419 38,862 42,754 19,772 62,526 Held for trading at fair value through profit or loss 14,795 — 14,795 5,816 — 5,816 Financial liabilities at fair value 45,238 8,419 53,657 48,570 19,772 68,342 Bank loans 1,164,262 295,518 1,459,780 130,840 197,522 328,362 Unsecured obligations 46,999 2,909,485 2,956,484 343,589 2,176,924 2,520,513 Lease Liabilities 18,192 56,966 75,158 12,149 49,585 61,734 Trade and other payables 449,633 — 449,633 374,789 — 374,789 Total financial liabilities at amortized cost 1,679,086 3,261,969 4,941,055 861,367 2,424,031 3,285,398 Total financial liabilities 1,724,324 3,270,388 4,994,712 909,937 2,443,803 3,353,740 |
Schedule of fair value measurement of assets and liabilities | As of December 31, 2023 Measurement Methodology Fair value measurement of assets and liabilities Carrying Amount at Fair value Fair amount Level 1 Level 2 Level 3 ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Financial Assets Cash and cash equivalents 1,041,369 1,041,369 — 1,041,369 — — Other current financial assets - Time deposits 1,316,797 1,316,797 — — 1,316,797 — - Derivative financial instruments — — — — — - Forwards — — 324 — 324 — - Options — — 195 — 195 — - Hedging assets — — 8,527 — 8,527 — - Swaps — — — — — — Non-current accounts receivable 2,559 2,559 — — — — Other non-current financial assets: - Other 20 20 — — 20 — - Equity instruments — — 232,268 232,268 — — - Hedging assets – Swaps — — 15,993 15,993 — — Other current financial liabilities - Bank borrowings 1,164,262 1,164,262 — — 1,164,262 — - Derivative instruments — — — — — — - Forwards — — 14,525 — 14,525 — - Options — — 270 — 270 — - Hedging liabilities – Swaps — — 12,143 — 12,143 — - Swaps hedges, investments — — 18,300 — 18,300 — - Cash flow hedges — — — — — — - Unsecured obligations 46,999 46,999 — — 46,999 — Other non-current financial liabilities - Bank borrowings 295,518 295,518 — — 295,518 — - Unsecured obligations 2,909,485 2,909,485 — — 2,909,485 — - Non-current hedging liabilities — — 8,419 — 8,419 — As of December 31, 2022 Measurement Methodology Fair value measurement of assets and liabilities Carrying Amount at Fair value Fair amount Level 1 Level 2 Level 3 ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Financial Assets Cash and cash equivalents 2,655,236 2,655,236 — 2,655,236 — — Other current financial assets - Time deposits 950,167 950,167 — — 950,167 — - Derivative financial instruments - Forwards — — 3,704 — 3,704 — - Options — — 470 — 470 — - Hedging assets — — 7,014 — 7,014 — - Swaps — — — — — — Non-current accounts receivable 2,091 2,091 — — — — Other non-current financial assets: - Other 23 23 — — 23 — - Equity instruments — — 9,497 9,497 — — - Hedging assets – Swaps — — 22,606 22,606 — — Other current financial liabilities - Bank borrowings 130,840 130,840 — — 130,840 — - Derivative instruments — — — — — — - Forwards — — 4,848 — 4,848 — - Options — — 968 — 968 — - Hedging liabilities – Swaps — — 42,754 — 42,754 — - Swaps hedges, investments — — — — — — - Unsecured obligations 343,589 343,589 — — 343,589 — Other non-current financial liabilities - Bank borrowings 197,522 196,598 — — 196,598 — - Unsecured obligations 2,176,924 2,476,924 — — 2,476,924 — - Non-current hedging liabilities — — 19,772 — 19,772 — |
Schedule of net debt | Net debt As of As of ThUS$ ThUS$ Cash and cash equivalents 1,041,369 2,655,236 Other current financial assets 1,325,843 961,355 Other non-current financial hedge assets 15,993 22,606 Other current financial liabilities (1,256,499) (522,999) Lease liabilities current (18,192) (12,149) Other non-current financial liabilities (3,213,422) (2,394,218) Non-current Lease liabilities (56,966) (49,585) Total (2,161,874) 660,246 |
Schedule of detailed information about changes in net debt | As of From cash flow Not from cash flow As of Net debt Amounts from Amounts from Other cash Income statement Equity and others ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Obligations with the public and bank loans (2,848,875) (1,534,282) 117,145 18,346 (168,598) — (4,416,264) Financial instruments derived from hedging (39,681) (18,927) 4,077 — 11,731 20,800 (22,000) Derivatives for investment hedges (29,984) — — (10,082) 18,171 3,595 (18,300) Non-hedging Derivatives in Other financial liabilities (5,816) — — — (8,979) — (14,795) Current and non-current lease liabilities (61,734) 15,914 2,038 — (31,376) — (75,158) Current and non-current financial liabilities (2,986,090) (1,537,295) 123,260 8,264 (179,051) 24,395 (4,546,517) Cash and cash equivalents 2,655,236 — (53,539) (1,615,863) 55,535 — 1,041,369 Deposits that do not qualify as cash and cash equivalents 950,167 — (49,226) 341,742 74,114 — 1,316,797 Debt Hedging Derivative Financial Instruments 29,620 — — — (5,100) — 24,520 Derivatives for investment hedges — — — — — — — Non-hedging derivatives on other financial assets 4,174 — — (18,034) 14,380 — 520 Hedging derivatives reimbursement of SQM Australia asset 7,139 — — 1,183 (1,183) (5,702) 1,437 Current and Non-Current Financial Assets 3,646,336 — (102,765) (1,290,972) 137,746 (5,702) 2,384,643 Total 660,246 (1,537,295) 20,495 (1,282,708) (41,305) 18,693 (2,161,874) As of From cash flow Not from cash flow As of Net debt Amounts from Amounts from Other cash Income statement Equity and others ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Obligations with the public and bank loans (2,555,511) (246,883) 98,155 2,566 (147,202) — (2,848,875) Debt hedging derivative financial instruments (81,854) 993 7,623 — 6,108 27,449 (39,681) Hedging and investment derivatives — — — (2,662) (21,319) (6,003) (29,984) Non-hedging derivatives on other financial liabilities (1,672) — — — (4,144) — (5,816) Operating lease liabilities, current and non-current (54,223) 10,478 1,226 — (19,215) — (61,734) Current and non-current financial liabilities (2,693,260) (235,412) 107,004 (96) (185,772) 21,446 (2,986,090) Cash and cash equivalents 1,515,051 — (25,623) 1,165,225 583 — 2,655,236 Deposits that do not qualify as cash and cash equivalents 905,170 — (24,088) 24,679 44,406 — 950,167 Debt hedging derivative financial instruments 257 — — — 29,363 — 29,620 Hedging and investment derivatives 12,613 — — — (12,613) — — Non-hedging derivatives on other financial assets 1,254 — — (39,878) 42,798 — 4,174 Hedging derivatives reimbursement of SQM Australia asset — — 2,022 — — 5,117 7,139 Current and Non-Current Financial Assets 2,434,345 — (47,689) 1,150,026 104,537 5,117 3,646,336 Total (258,915) (235,412) 59,315 1,149,930 (81,235) 26,563 660,246 |
Right-of-use assets and Lease_2
Right-of-use assets and Lease liabilities (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Right-Of-Use Assets And Lease Liabilities | |
Schedule of right-of-use assets | Reconciliation of changes Land Buildings Other Transport Machinery, 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 Reconciliation of changes Land Buildings Other Transport Machinery, Total ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Opening Balance 17,353 20,951 — 2,578 11,726 52,608 Additions 1,599 736 — 186 16,675 19,196 Depreciation expenses (12) (3,846) — (965) (4,383) (9,206) Transfer to property, plant and equipment (622) — — — (1,114) (1,736) Other increases (decreases) 2 (2) — 6 (1) 5 Total changes 967 (3,112) — (773) 11,177 8,259 Closing balance 18,320 17,839 — 1,805 22,903 60,867 |
Schedule of lease liabilities | As of December 31, 2023 As of December 31, 2022 Lease liabilities Current Non-Current Current Non-Current ThUS$ ThUS$ ThUS$ ThUS$ Lease liabilities 18,192 56,966 12,149 49,585 Total 18,192 56,966 12,149 49,585 |
Schedule of current lease liabilities | (a) As of December 31, 2023 and 2022, current lease liabilities are analyzed as follows: 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$ 93.007.00-9 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 Debtor Creditor Contract indexation unit Effective rate Nominal amounts as of December 31,2022 Nominal amounts as of December 31,2022 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 59 79 18 55 73 79.626.800-K SQM Salar S.A. Chile Contract supplier Peso 2.75% 342 1,027 1,369 311 946 1,257 79.626.800-K SQM Salar S.A. Chile Contract supplier UF 2.42% 1,010 2,929 3,939 917 2,700 3,617 79.947.100-0 SQM Industrial S.A. Chile Contract supplier UF 3.10% 676 2,027 2,703 577 1,755 2,332 96.592.190-7 SQM Nitratos S.A. Chile Contract supplier UF 3.49% 18 55 73 17 52 69 79.768.170-9 Soquimich Comercial S.A. Chile Contract supplier UF 2.94% 342 886 1,228 306 790 1,096 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 2.53% 1 4 5 1 4 5 Foreign SQM Comercial de México S.A. de C.V. Mexico Contract supplier Dollar 3.45% 99 296 395 86 264 350 Foreign SQM Comercial de México S.A. de C.V. Mexico Contract supplier Mexican peso 7.84% 27 62 89 25 60 85 Foreign SQM Europe N.V. Belgium Contract supplier Euro 1.30% 102 306 408 96 290 386 Foreign SQM North América Corp. United States Contract supplier Dollar 2.90% 102 308 410 91 279 370 Foreign SQM Australia PTY Australia Contract supplier Australian dollar 4.42% 807 2,355 3,162 648 1,798 2,446 Foreign SQM Colombia S.A.S. Colombia Contract supplier Colombian peso 1.38% 5 17 22 5 17 22 Foreign SQM África Pty South Africa Contract supplier Rand 8.51% 12 36 48 8 27 35 Total 3,565 10,374 13,939 3,108 9,041 12,149 |
Schedule of non-current lease liabilities | (b) As of December 31, 2023 and 2022, the non-current lease liabilities are analyzed as follows: 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 — 2255 1,133 1,064 — 2197 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. Chile Contract supplier Dollar 4.99% 524 265 — 789 484 260 — 744 Foreign SQM Comercial de México S.A. de C.V. Chile Contract supplier Mexican Peso 6.79% 91 — — 91 90 — — 90 Foreign SQM Comercial de México S.A. de C.V. Chile Contract supplier Dollar 5.25% 3,197 1,131 — 4,328 3,040 1,105 — 4,145 Foreign SQM Australia Pty Mexico Contract supplier Australian dollar 4.92% 5,624 18,236 — 23,860 5,618 16,916 — 22,534 Foreign SQM África Pty Mexico Contract supplier Rand 9.20% 1,276 591 659 2,526 1,182 483 581 2,246 Foreign SQM Colombia S.A.S. Belgium Contract supplier Colombian peso 2.17% 1 — — 1 1 — — 1 Foreign SQM Europe N.V. United States Contract supplier Euro 1.30% 485 485 2,586 3,556 393 405 2,383 3,181 Foreign SQM Iberian Australia 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 Debtor Creditor Contract indexation unit Effective rate Nominal amounts as of December 31,2022 Amounts at amortized cost as of December 31, 2022 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$ 93.007.000-9 SQM S.A. Chile Contract supplier UF 3.49% 66 — — 66 65 — — 65 79.626.800-K SQM Salar S.A. Chile Contract supplier Peso 3.55% 1,176 1,176 1,078 3,430 1,104 1,133 1,064 3,301 79.626.800-K SQM Salar S.A. Chile Contract supplier UF 2.86% 5,633 1,605 347 7,585 5,363 1,545 346 7,254 79.947.100-0 SQM Industrial S.A. Chile Contract supplier UF 3.10% 4,248 5,595 2,176 12,019 3,696 5,152 2,135 10,983 96.592.190-7 SQM Nitratos S.A. Chile Contract supplier UF 3.49% 61 — — 61 60 — — 60 79.768.170-9 Soquimich Comercial S.A. Chile Contract supplier UF 2.24% 1,774 1,619 261 3,654 1,612 1,545 244 3,401 76.359.919-1 Orcoma Estudios SpA Chile Contract supplier UF 2.53% 4 — — 4 3 — — 3 76.359.919-1 Orcoma Estudios SpA Chile Contract supplier Peso 6.80% 18 26 46 90 8 11 47 66 Foreign SQM North América Corp. United States Contract supplier Dollar 3.11% 606 515 — 1,121 554 498 — 1,052 Foreign SQM Comercial de México S.A. de C.V. Mexico Contract supplier Mexican Peso 3.45% 789 362 — 1,151 738 356 — 1,094 Foreign SQM Australia PTY Australia Contract supplier Australian dollar 4.28% 3,955 5,584 23,894 33,433 3,023 1,619 16,102 20,744 Foreign SQM Colombia S.A.S. Colombia Contract supplier Colombian peso 1.90% 18 — — 18 18 — — 18 Foreign SQM África Pty South Africa Contract supplier Rand 8.51% 12 36 48 96 82 42 — 124 Foreign SQM Europe N.V. Belgium Contract supplier Euro 1.30% 888 564 — 1,452 861 559 — 1,420 Total 19,248 17,082 27,850 64,180 17,187 12,460 19,938 49,585 |
Intangible assets and goodwill
Intangible assets and goodwill (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Intangible assets and goodwill [abstract] | |
Schedule of intangible assets and goodwill | As of December 31, 2023 Intangible assets and goodwill Useful life Net Value ThUS$ IT programs Finite 3,190 Mining rights Finite 134,924 Water rights and rights of way Indefinite 4,909 Water rights Finite 7,580 Intellectual property Finite 5,201 Other intangible assets Finite 70 Intangible assets other than goodwill 155,874 Goodwill Indefinite 958 Total Intangible Asset 156,832 As of December 31, 2022 Intangible assets and goodwill Useful life Net Value ThUS$ IT programs Finite 3,249 Mining rights Finite 140,873 Water rights and rights of way Indefinite 4,909 Water rights Finite 11,369 Intellectual property Finite 5,850 Other intangible assets Finite 86 Intangible assets other than goodwill 166,336 Goodwill Indefinite 967 Total Intangible Asset 167,303 |
Schedule of intangible assets | a) Movements in identifiable intangible assets as of December 31, 2023: Movements in identifiable intangible assets IT programs Mining rights, Water rights, Water rights Intellectual Other intangible Goodwill Total ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ At January 1, 2023 3,249 140,873 4,909 11,369 5,850 86 967 167,303 Additions 197 196 — — — 15 — 408 Amortization for the year (1,451) (4,684) — (3,789) (649) (28) — (10,601) Impairment losses recognized in income for the year (1) — — — — — — (9) (9) Other increases / decreases for foreign currency exchange rates 6 — — — — (3) — 3 Other increases (decreases) 1,189 (1,461) — — — — — (272) Subtotal (59) (5,949) — (3,789) (649) (16) (9) (10,471) As of December 31, 2023 3,190 134,924 4,909 7,580 5,201 70 958 156,832 Historical cost 37,849 161,451 7,420 18,000 7,215 2,303 4,492 238,730 Accumulated amortization (34,659) (26,527) (2,511) (10,420) (2,014) (2,233) (3,534) (81,898) At January 1, 2022 3,447 149,532 4,909 15,158 6,481 131 34,596 214,254 Additions 349 1,141 — — — 14 — 1,504 Amortization for the year (1,039) (8,482) — (3,789) (476) (59) — (13,845) Impairment losses recognized in income for the year (2) — (1,228) — — — — (33,629) (34,857) Other increases / decreases for foreign currency exchange rates (4) — — — (155) — — (159) Other increases (decreases) 496 (90) — — — — — 406 Subtotal (198) (8,659) — (3,789) (631) (45) (33,629) (46,951) As of December 31, 2022 3,249 140,873 4,909 11,369 5,850 86 967 167,303 Historical cost 36,457 162,716 7,420 18,000 7,215 2,291 4,501 238,600 Accumulated amortization (33,208) (21,843) (2,511) (6,631) (1,365) (2,205) (3,534) (71,297) (1) See Note 21.5 (2) A definition made in the fourth quarter of 2022 led to the identification of assets that are not in the company’s long-term business plan. Therefore, the Company recognized impairment for the value of certain intangible assets and associated goodwill in an amount of ThUS$34,149, which are related to the Iodine and Derivatives Cash Generating Unit. |
Schedule of goodwill | (b) Movements in identifiable goodwill as of December 31, 2023 and 2022: Accumulated impairment Goodwill at the beginning Additional Impairment losses recognized in Total increase Total ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ SQM Iberian S.A. 148 — — — 148 SQM Investment Corporation 86 — — — 86 Soquimich European Holding B.V. (*) 9 — (9) (9) — SQM Potasio S.A. 724 — — — 724 Ending balance 967 — (9) (9) 958 Accumulated impairment Goodwill at the beginning Additional Impairment losses recognized in income for the year (-) Total increase Total ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ SQM S.A. (*) 22,255 — (22,255) (22,255) — SQM Iberian S.A. 148 — — — 148 SQM Investment Corporation 86 — — — 86 Soquimich European Holding B.V. (*) 11,383 — (11,374) (11,374) 9 SQM Potasio S.A. 724 — — — 724 Ending balance 34,596 — (33,629) (33,629) 967 (*) Based on an impairment analysis conducted by management, this goodwill was adjusted for based on the assessment that its partial or total book value is not recoverable. |
Property, plant and equipment (
Property, plant and equipment (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of detailed information about property, plant and equipment [abstract] | |
Schedule of property, plant and equipment | Description of types of property, plant and equipment As of As of ThUS$ ThUS$ Property, plant and equipment, net Land 23,481 23,482 Buildings 285,487 273,913 Other property, plant and equipment 62,739 34,960 Transport equipment 9,165 9,487 Supplies and accessories 4,139 4,798 Office equipment 1,158 1,355 Network and communication equipment 1,605 1,872 Mining assets 154,715 60,284 IT equipment 2,092 3,147 Energy generating assets 2,893 3,253 Constructions in progress 1,834,041 1,328,508 Machinery, plant and equipment 1,228,422 981,779 Total 3,609,937 2,726,838 Property, plant and equipment, gross Land 23,481 23,482 Buildings 851,706 803,398 Other property, plant and equipment 291,053 250,058 Transport equipment 22,143 21,343 Supplies and accessories 31,132 29,426 Office equipment 13,346 13,141 Network and communication equipment 11,644 10,878 Mining assets 341,837 230,803 IT equipment 29,384 31,197 Energy generating assets 38,929 38,540 Constructions in progress 1,834,041 1,328,508 Machinery, plant and equipment 4,189,794 3,716,440 Total 7,678,490 6,497,214 Accumulated depreciation and value impairment of property, plant and equipment, total Accumulated depreciation and impairment of buildings (566,219) (529,485) Accumulated depreciation and impairment of other property, plant and equipment (228,314) (215,098) Accumulated depreciation and impairment of transport equipment (12,978) (11,856) Accumulated depreciation and impairment of supplies and accessories (26,993) (24,628) Accumulated depreciation and impairment of office equipment (12,188) (11,786) Accumulated depreciation and impairment of network and communication equipment (10,039) (9,006) Accumulated depreciation and impairment of mining assets (187,122) (170,519) Accumulated depreciation and impairment of IT equipment (27,292) (28,050) Accumulated depreciation and impairment of energy generating assets (36,036) (35,287) Accumulated depreciation and impairment of machinery, plant and equipment (2,961,372) (2,734,661) Total (4,068,553) (3,770,376) Description of classes of property, plant and equipment As of As of ThUS$ ThUS$ Property, plant and equipment, net Pumps 61,385 32,120 Conveyor Belt 16,589 17,135 Crystallizer 56,930 48,582 Plant Equipment 285,653 163,594 Tanks 39,422 25,923 Filter 69,246 47,976 Electrical equipment/facilities 110,255 110,275 Other Property, Plant & Equipment 68,967 112,628 Site Closure 40,696 36,673 Piping 142,013 107,481 Well 156,621 177,708 Pond 34,957 41,729 Spare Parts (1) 145,688 59,955 Total 1,228,422 981,779 ________________________________________________ (1) The reconciliation of the spare parts provisions as of December 31, 2023 and 2022 is as follows: Reconciliation As of As of ThUS$ ThUS$ Opening balance 52,072 48,262 Increase in provision 6,528 3,810 Closing balance 58,600 52,072 |
Schedule of reconciliation of changes in property, plant and equipment | Reconciliation of changes in property, plant and equipment by class as of December 31, 2023 and 2022: Reconciliation of changes in property, plant and equipment by class as of Land Buildings Other property, plant and equipment Transport equipment Supplies and accessories Equipment office Network and communication equipment Mining assets IT equipment Energy generating assets Assets under construction Machinery, plant and equipment Total ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ At January 1, 2023 23,482 273,913 34,960 9,487 4,798 1,355 1,872 60,284 3,147 3,253 1,328,508 981,779 2,726,838 Additions — — 545 — 52 8 208 — 207 — 1,091,840 2,347 1,095,207 Disposals — — — — — — — — (1) — — (17) (18) Depreciation for the year — (37,315) (13,337) (1,155) (1,809) (230) (670) (16,603) (890) (749) (179,989) (252,747) Impairment (2) — — — — — — — — — — — (47,059) (47,059) Increase (decrease) in foreign currency translation difference (6) (7) (35) (1) — (7) — — (3) — — (39) (98) Reclassifications — 48,677 40,657 801 1,099 31 195 111,059 (447) 389 (588,635) 386,174 — Other increases (decreases) (1) 5 219 (51) 33 (1) 1 — (25) 79 — 2,328 85,226 87,814 Decreases for classification as held for sale — — — — — — — — — — — — — Subtotal (1) 11,574 27,779 (322) (659) (197) (267) 94,431 (1,055) (360) 505,533 246,643 883,099 As of December 31, 2023 23,481 285,487 62,739 9,165 4,139 1,158 1,605 154,715 2,092 2,893 1,834,041 1,228,422 3,609,937 Historical cost 23,481 851,706 291,053 22,143 31,132 13,346 11,644 341,837 29,384 38,929 1,834,041 4,189,794 7,678,490 Accumulated depreciation — (566,219) (228,314) (12,978) (26,993) (12,188) (10,039) (187,122) (27,292) (36,036) — (2,961,372) (4,068,553) At January 1, 2022 23,507 270,563 32,846 2,463 5,556 1,386 1,359 38,241 3,570 3,970 731,787 896,977 2,012,225 Additions — 495 425 146 4 7 152 — 270 — 922,690 7,194 931,383 Disposals — — — — — — — — — — — (19) (19) Depreciation for the year — (32,915) (8,691) (962) (1,400) (248) (788) (12,871) (1,256) (717) — (158,865) (218,713) Impairment (2) — (156) — — — — — — — — — (7,928) (8,084) Increase (decrease) in foreign currency translation difference (5) (7) — — — (1) — — — — — (20) (33) Reclassifications 121 37,147 10,449 7,840 726 213 1,149 34,914 582 — (316,994) 223,853 — Other increases (decreases) (1) — (1,127) (69) — (88) (2) — — (19) — (8,975) 20,587 10,307 Decreases for classification as held for sale (141) (87) — — — — — — — — — — (228) Subtotal (25) 3,350 2,114 7,024 (758) (31) 513 22,043 (423) (717) 596,721 84,802 714,613 As of December 31, 2022 23,482 273,913 34,960 9,487 4,798 1,355 1,872 60,284 3,147 3,253 1,328,508 981,779 2,726,838 Historical cost 23,482 803,398 250,058 21,343 29,426 13,141 10,878 230,803 31,197 38,540 1,328,508 3,716,440 6,497,214 Accumulated depreciation — (529,485) (215,098) (11,856) (24,628) (11,786) (9,006) (170,519) (28,050) (35,287) — (2,734,661) (3,770,376) (1) The net balance of “Other Increases (Decreases)” corresponds to all those items that are reclassified to or from “Property, Plant and Equipment”, They can have the following origin: (i) work in progress which is expensed to the statement of income, forming part of operating costs or other expenses per function, as appropriate; (ii) the variation representing the purchase and use of materials and spare parts; (iii) projects corresponding mainly to exploration expenditures and ground studies that are reclassified to the item other non-current financial assets; (iv) software that is reclassified to “Intangibles (v) Provisions related to the investment plan and assets related to closing the site. (2) See note 21.5. This impairment corresponds to identified assets identified that will not be used in the operation due to their specific characteristics relating to the iodine and nitrate segments. |
Schedule of costs for capitalized interest of property, plant and equipment | The rates and costs for capitalized interest of property, plant and equipment are detailed as follows: Costs of capitalized interest As of As of ThUS$ ThUS$ Weighted average capitalization rate of capitalized interest costs 5 % 4 % Amount of interest cost capitalized 43,331 24,708 |
Other current and non-current_2
Other current and non-current non-financial assets (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Other Current And Non-Current Non-Financial Assets | |
Schedule of other current and non-current non-financial assets | As of December 31, 2023, and 2022, the detail of “Other Current and Non-current Assets” is as follows: Other non-financial assets, current As of As of ThUS$ ThUS$ Domestic Value Added Tax 63,973 81,361 Foreign Value Added Tax 24,889 66,926 Prepaid mining licenses 1,299 1,122 Prepaid insurance 15,022 33,896 Other prepayments 3,204 1,230 Refund of Value Added Tax to exporters 19,929 3,020 Other taxes 6,142 7,512 Other assets 2,292 1,268 Total 136,750 196,335 Other non-financial assets, non-current As of As of ThUS$ ThUS$ Exploration and evaluation expenses 57,458 44,023 Guarantee deposits 950 717 Foreign VAT (1) 308,084 — Other non-current assets 7,208 7,656 Total 373,700 52,396 ________________________________________________ |
Schedule of changes in assets for exploration and mineral resource evaluation | Movements in assets for the exploration and evaluation of mineral resources as of December 31, 2023, and 2022: Reconciliation As of As of As of ThUS$ ThUS$ ThUS$ Opening balance 44,023 26,752 17,883 Changes Additions 12,002 11,341 8,071 Reclassifications from/to short-term (inventory) 1,049 (465) 83 Amortization of ground studies (2,131) (2,421) (1,360) Reclassification from construction in progress 2,515 8,816 2,075 Total changes 13,435 17,271 8,869 Ending balance (*) 57,458 44,023 26,752 As of December 31, 2023 and 2022, no reevaluations of assets for exploration and assessment of mineral resources have been conducted. (*) This corresponds to the sum of expenditures for economically feasible exploration and exploration under operation (long-term). |
Schedule of exploration and evaluation explanatory | Explorations in execution As of As of ThUS$ ThUS$ Chile 9,062 3,699 Total 9,062 3,699 |
Schedule of detailed information about conciliation of explorations in execution | Conciliation of explorations in execution As of As of ThUS$ ThUS$ Opening balance 3,699 1,000 Disbursements 6,095 4,227 Reclassifications (732) (1,528) Total changes 5,363 2,699 Total 9,062 3,699 |
Schedule of detailed information about reimbursements for exploration and evaluation | Prospecting Type of Exploration As of As of ThUS$ ThUS$ Chile (1) Metallic/Non-Metallic 50,844 36,327 Total 50,844 36,327 ________________________________________________ (1) The value presented for Chile is composed as of December 2023 of ThUS 13,803 corresponding to non-metallic exploration and evaluation and ThUS$ 37,041 associated with metallic exploration. In December 2022, the amounts of non-metallic and metallic exploration were ThUS$ 11,417 ThUS$24,910 . |
Schedule of detailed information about reconciliation of economically feasible metalic explorations | Prospecting conciliation As of As of ThUS$ ThUS$ Opening balance 36,327 18,154 Additions 12,002 11,341 Reclassifications from Exploration in execution – Chile 2,515 8,864 Reclassifications to Exploration in Exploitation-Chile — (2,032) Total changes 14,517 18,173 Total 50,844 36,327 |
Schedule of detailed information about short term and long term exploitation conciliation | Short-Term Exploitation Conciliation As of As of ThUS$ ThUS$ Opening balance 1,700 1,235 Amortization of ground studies — — Reclasifications from/to short term (inventories) (1,049) 465 Total changes (1,049) 465 Total 651 1,700 Long-Term Exploitation Conciliation As of As of ThUS$ ThUS$ Opening balance 7,696 8,598 Amortization of ground studies (2,131) (2,421) Reclasifications from/to short term (inventories) 1,049 1,519 Total changes (1,082) (902) Total 6,614 7,696 |
Employee benefits (Tables)
Employee benefits (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Employee Benefits | |
Schedule of provisions for employee benefits | Classes of benefits and expenses by employee As of As of ThUS$ ThUS$ Current Profit sharing and bonuses — 2,270 Performance bonus and operational targets 23,946 33,106 Total 23,946 35,376 Non-current Profit sharing and bonuses 18,428 8,973 Severance indemnity payments 43,578 34,899 Total 62,006 43,872 |
Schedule of post employment benefit obligations | Reconciliation Changes in the benefit obligation As of As of As of ThUS$ ThUS$ ThUS$ Benefit obligation at the beginning of the year 279 9,550 9,864 Current cost of service — — — Interest cost 12 255 240 Actuarial loss 180 (1,357) (135) Settlement — (7,739) — Benefits paid (185) (430) (419) Total 286 279 9,550 Reconciliation As of As of As of ThUS$ ThUS$ ThUS$ Fair value of plan assets at the start of the year 4,982 13,497 12,888 Real return (loss) in the plan assets 584 (346) 1,028 Benefits paid (185) (430) (419) Settlement — (7,739) — Fair value of plan assets at the end of the year 5,381 4,982 13,497 Non-current-assets 5,095 4,703 3,947 Elements not yet recognized as components of the cost of periodic net pensions: Net actuarial income at the beginning of the year 59 1,039 192 Settlement — (1,627) — Gain 190 647 847 Adjustment to recognize the minimum pension obligation 249 59 1,039 Cost of service or benefits received during the year As of As of As of ThUS$ ThUS$ ThUS$ Financial cost 12 255 240 Real loss in plan assets (214) (363) (316) Settlement — (1,627) — Net periodic pension expenses (202) (1,735) (76) |
Schedule of staff severance indemnities | As of December 31, 2023, and 2022, severance indemnities calculated at the actuarial value are as follows: Staff severance indemnities As of As of As of ThUS$ ThUS$ ThUS$ Opening balance (34,899) (27,099) (32,199) Current cost of service (4,624) (4,204) (4,978) Interest cost (2,236) (1,928) (1,303) Actuarial gain loss (5,947) (5,305) 3,999 Exchange rate difference 769 551 4,971 Benefits paid during the year 3,359 3,086 2,411 Total (43,578) (34,899) (27,099) |
Schedule of employee Actuarial assumption rate | The liability recorded for staff severance indemnity is valued at the actuarial value method, using the following actuarial assumptions: Actuarial assumptions As of As of As of Annual/Years Mortality rate RV - 2020/CB - 2020 RV - 2014 RV - 2014 Discount interest rate 5.32% 5.12% 5.67% Inflation rate 3.00% 3.41% 3.20% Voluntary retirement rate: Men 3.82 % 6.49 % 6.49 % Annual Women 3.82 % 6.49 % 6.49 % Annual Salary increase 4.01 % 3.00 % 3.00 % Annual Retirement age: Men 65 65 65 Years Women 60 60 60 Years |
Schedule of sensitivity analysis of assumptions | As of December 31, 2023, 2022 and 2021, the Company has conducted a sensitivity analysis of the main assumptions of the actuarial calculation, determining the following: Sensitivity analysis as of December 31, 2023 Effect + 100 basis Effect - 100 basis ThUS$ ThUS$ Discount rate (2,575) 2,898 Employee turnover rate (338) 378 Sensitivity analysis as of December 31, 2022 Effect + 100 basis Effect - 100 basis ThUS$ ThUS$ Discount rate (2,090) 2,352 Employee turnover rate (274) 307 Sensitivity analysis as of December 31, 2021 Effect + 100 basis Effect - 100 basis ThUS$ ThUS$ Discount rate (1,614) 1,817 Employee turnover rate (212) 237 |
Provisions and other non-fina_2
Provisions and other non-financial liabilities (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of other provisions [abstract] | |
Schedule of provisions | As of December 31, 2023 As of December 31, 2022 Types of provisions Current Non-current Total Current Non-current Total ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Provision for legal complaints (1) 106 1,195 1,301 52,106 1,603 53,709 Provision for dismantling, restoration and rehabilitation cost (2) — 58,459 58,459 — 53,995 53,995 Other provisions (3) 392,216 796 393,012 1,251,040 2,455 1,253,495 Total 392,322 60,450 452,772 1,303,146 58,053 1,361,199 ________________________________________________ (1) These provisions correspond to legal processes that are pending resolution or that have not yet been disbursed, these provisions are mainly related to litigation involving the subsidiaries located in Chile, Brazil and the United States (see note 20.1). (2) Sernageomin commitments for the restoration of the location of the production sites have been incorporated. This cost value is calculated at discounted present value, using flows associated with plans with an evaluation horizon that fluctuates between 8 and 25 years for potassium-lithium operations and 11 to 22 years for nitrate-iodine operations. The rates used to discount future cash flows are based on market rates for the aforementioned terms. (3) See Note 18.2. |
Schedule of other current and noncurrent provision | Current provisions, other short-term provisions As of As of ThUS$ ThUS$ Rent under Lease contract (1) 354,205 1,189,326 Provision for additional tax related to foreign loans 1,641 1,085 End of agreement bonus 6,979 35,819 Other bonuses to workers 6,933 — Directors’ per diem allowance 4,676 4,250 Miscellaneous provisions 17,782 20,560 Total 392,216 1,251,040 ________________________________________________ (1) Payment Obligations for the lease contract with CORFO: These correspond to obligations assumed in the Lease Agreement. Our subsidiary SQM Salar holds exclusive rights to exploit the mineral resources in an area covering approximately 140,000 hectares of land in the Salar de Atacama in northern Chile, of which SQM Salar is only entitled to exploit the mineral resources in 81,920 hectares. These rights are owned by Corfo and leased to SQM Salar pursuant to the Lease Agreement. Corfo cannot unilaterally amend the Lease Agreement and the Project Agreement, and the rights to exploit the resources cannot be transferred. The Lease Agreement establishes that SQM Salar is responsible for making quarterly lease payments to Corfo according to specified percentages of the value of production of minerals extracted from the Salar de Atacama brines, maintaining Corfo’s rights over the Mining Exploitation Concessions and making annual payments to the Chilean government for such concession rights. The Lease Agreement was entered into in 1993 and expires on December 31, 2030. On January 17, 2018, SQM and CORFO reached an agreement to end an arbitration process directed by the arbitrator, Mr. Héctor Humeres Noguer, in case 1954-2014 of the Arbitration and Mediation Center of Santiago Chamber of Commerce and other cases related to it. The agreement signed in January 2018, includes important amendments to the lease agreement and project agreement signed between CORFO and SQM in 1993. The main modifications became effective on April 10, 2018 and require (i) higher lease payments as a result of increased lease rates associated with the sale of the different products produced in the Salar de Atacama, including lithium carbonate, lithium hydroxide and potassium chloride; (ii) SQM Salar commits to contribute between US$10.8 and US$18.9 million per year to research and development efforts, between US$10 and US$15 million per year to the communities near the Salar de Atacama basin, and to annually contribute 1.7% of SQM Salar’s total annual sales to regional development; (iii) Corfo authorization for CCHEN to establish a total production and sales limit for lithium products produced in the Salar de Atacama of up to 349,553 metric tons of lithium metal equivalent (1,860,671 tons of lithium carbonate equivalent), which is in addition to the approximately 64,816 metric tons of lithium metal equivalent (345,015 tons of lithium carbonate equivalent) remaining from the originally authorized amount; (iv) provisions relating to the return of real estate and movable property leased to Corfo, the transfer of environmental permits to Corfo at no cost and the granting of purchase options to Corfo for production facilities and water rights in the Salar de Atacama upon termination of Corfo agreements; and (v) prohibitions on the sale of lithium brine extracted from leased mining concessions. The fee structure is as follows: Price US$/MT Li2CO3 Lease payment rate $0 - $4,000 6.8 % Over $4,000 - $5,000 8.0 % Over $5,000 - $6,000 10.0 % Over $6,000 - $7,000 17.0 % Over $7,000 - $10,000 25.0 % Over $10,000 40.0 % Price US$/MT LiOH Lease payment rate $0 - $5,000 6.8 % Over $5,000 - $6,000 8.0 % Over $6,000 - $7,000 10.0 % Over $7,000- $10,000 17.0 % Over $10,000 - $12,000 25.0 % Over $12,000 40.0 % Price US$/MT KCl Lease payment rate $0 - $300 3.0 % Over $300 - $400 7.0 % Over $400 - $500 10.0 % Over $500 - $600 15.0 % Over $600 20.0 % The Lease Agreement and the Project Agreement are subject to early termination in the case of certain default events. Under these, Corfo is obliged to use its best efforts to initiate a public bidding process or the corresponding contracting procedure for the execution of an act or contract for the exploitation of the OMA mining properties currently leased by SQM no later than June 30, 2027, and to resolve it no later than July 30, 2029. |
Schedule of changes in provisions | Description of items that gave rise to variations Legal complaints Provision for Other provisions Total ThUS$ ThUS$ ThUS$ ThUS$ Total provisions, initial balance 53,709 53,995 1,253,495 1,361,199 Changes Additional provisions 266 12,127 1,922,666 1,935,059 Provision used (52,707) — (2,771,422) (2,824,129) Increase (decrease) in foreign currency exchange 33 — (871) (838) Others — (7,663) (10,856) (18,519) Total Increase (decreases) (52,408) 4,464 (860,483) (908,427) Total 1,301 58,459 393,012 452,772 Description of items that gave rise to variations Legal complaints Provision for Other provisions Total ThUS$ ThUS$ ThUS$ ThUS$ Total provisions, initial balance 49,741 58,592 270,371 378,704 Changes Additional provisions 3,981 7,085 3,045,758 3,056,824 Provision used — — (2,060,321) (2,060,321) Increase (decrease) in foreign currency exchange (1) (35) 4 (32) Others (12) (11,647) (2,317) (13,976) Total Increase (decreases) 3,968 (4,597) 983,124 982,495 Total 53,709 53,995 1,253,495 1,361,199 Description of items that gave rise to variations Legal complaints Provision for Other provisions Total ThUS$ ThUS$ ThUS$ ThUS$ Total provisions, initial balance 10,165 61,265 95,353 166,783 Changes Additional provisions 48,012 7,302 232,254 287,568 Provision used (8,399) — (56,959) (65,358) Increase (decrease) in foreign currency exchange (37) — (35) (72) Others — (9,975) (242) (10,217) Total Increase (decreases) 39,576 (2,673) 175,018 211,921 Total 49,741 58,592 270,371 378,704 |
Schedule of other non-financial liabilities, current | Description of other liabilities As of As of ThUS$ ThUS$ Tax withholdings 8,750 46,518 VAT payable 33,782 43,439 Guarantees received 1,021 743 Accrual for dividend 67,219 7,370 Monthly tax provisional payments 26,160 289,326 Deferred income 4,144 19,341 Withholdings from employees and salaries payable 9,333 7,242 Accrued vacations 35,902 29,642 Other current liabilities 994 2,856 Total 187,305 446,477 |
Disclosures on equity (Tables)
Disclosures on equity (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Miscellaneous equity [abstract] | |
Schedule of controls capital management | The Company’s management controls capital management based on the following ratios: Capital Management As of December 31, As of December 31, Description (1) Calculation (1) Net Financial Debt/cash (ThUS$) 2,086,717 (721,980) Financial Debt – Financial Resources Other current Financial Liabilities + Other Non-Current Financial Liabilities– Cash and Cash Equivalents – Other Current Financial Assets – Hedging Assets, non-current Liquidity 2.33 2.29 Current Assets divided by Current Liabilities Total Current Assets / Total Current Liabilities ROE 20.78 % 79.37 % Net income the year divided by Total Equity Net income the year / Equity Adjusted EBITDA (ThUS$) 3,180,071 5,838,439 Adjusted EBITDA EBITDA – Other income – Other gains (losses) - Share of Profit of associates and joint ventures accounted for using the equity method + Other expenses by function + Net impairment gains on reversal (losses) of financial assets – Finance income – Currency differences. EBITDA (ThUS$) 3,226,202 5,817,605 EBITDA Net income + Depreciation and Amortization Expense adjustments + Finance Costs + Income Tax ROA 35.90 % 78.61 % Adjusted EBITDA – Depreciation divided by Total Assets net of financial resources less related parties’ investments (Gross Profit – Administrative Expenses)/ (Total Assets – Cash and Cash Equivalents – Other Current Financial Assets – Other Non-Current Financial Assets – Equity accounted Investments) (LTM) Indebtedness 0.47 (0.15) Net Financial Debt on Equity Net Financial Debt / Total Equity |
Schedule of financial restrictions | The financial restrictions with respect to the bonds issued by the Company for the periods ended December 31, 2023 and 2022 are as follows. Financial restrictions As of December 31, 2023 Financial Financial Financial Financial Instrument with restriction Bonds Bonds Bonds Bank loans Reporting party or subsidiary restriction Creditor Bondholders Bondholders Bondholders Scotiabank Registration number H Q O PB 70M Name of financial indicator or ratio (See definition in Note 19.1) NFD/Equity NFD/Equity NFD/Equity NFD/Equity Measurement frequency Quarterly Quarterly Quarterly Quarterly Restriction (Range, value and unit of measure) Must be less than Must be less than Must be less than Must be less than 1.00 1.00 1.00 1.00 Indicator or ratio determined by the company 0.47 0.47 0.47 0.47 Fulfilled YES/NO yes yes yes yes Financial restrictions As of December 31, 2022 Financial Financial Financial Financial Instrument with restriction Bonds Bonds Bonds Bank loans Reporting party or subsidiary restriction Creditor Bondholders Bondholders Bondholders Scotiabank Registration number H Q O PB 70M Name of financial indicator or ratio (See definition in Note 19.1) NFD/Equity NFD/Equity NFD/Equity NFD/Equity Measurement frequency Quarterly Quarterly Quarterly Quarterly Restriction (Range, value and unit of measure) Must be less than Must be less than Must be less than Must be less than 1.00 1.00 1.00 1.00 Indicator or ratio determined by the company (0.15) (0.15) (0.15) (0.15) Fulfilled YES/NO yes yes yes yes |
Schedule of share issues | Detail of capital classes in shares: As of December 31, 2023 As of December 31, 2022 As of December 31, 2021 Type of capital in preferred shares Series A Series B Series A Series B Series A Series B Description of type of capital in shares Number of authorized shares 142,819,552 142,818,904 142,819,552 142,818,904 142,819,552 142,818,904 Number of fully subscribed and paid shares 142,819,552 142,818,904 142,819,552 142,818,904 142,819,552 142,818,904 Number of subscribed, partially paid shares — — — — — — Increase (decrease) in the number of current shares — — — — — — Number of outstanding shares 142,818,904 142,818,904 142,818,904 142,818,904 142,818,904 142,818,904 Number of shares owned by the Company or its subsidiaries or associates 648 — 648 — 648 — Number of shares whose issuance is reserved due to the existence of options or agreements to dispose shares — — — — — — Capital amount in shares ThUS$ 134,750 1,442,893 134,750 1,442,893 134,750 1,442,893 Total number of subscribed shares 142,819,552 142,818,904 142,819,552 142,818,904 142,819,552 142,818,904 As of December 31, 2023, 2022 and 2021, this caption comprises the following: Disclosure of reserves within shareholders' equity As of As of As of ThUS$ ThUS$ ThUS$ Reserve for currency exchange conversion (1) (4,921) (8,042) (7,913) Reserve for cash flow hedges (2) (930) (14,575) (34,025) Reserve for gains and losses from financial assets measured at fair value through other comprehensive income (3) 122,294 (10,973) (11,146) Reserve for actuarial gains or losses in defined benefit plans (4) (13,454) (9,198) (4,174) Other reserves 11,881 11,663 13,103 Total 114,870 (31,125) (44,155) ________________________________________________ (1) This balance reflects retained earnings for changes in the exchange rate when converting the financial statements of subsidiaries whose functional currency is different from the US dollar. (2) The Company maintains, as hedge instruments, financial derivatives related to obligations with the public issued in UF and Chilean pesos, Changes from the fair value of derivatives designated and classified as hedges are recognized under this classification. (3) This caption includes the fair value of equity investments that are not held for trading and that the group has irrevocably opted to recognize in this category upon initial recognition. In the event that such equity instruments are fully or partially disposed of, the proportional accumulated effect of accumulated fair value will be transferred to retained earnings. (4) This caption reflects the effects of changes in actuarial assumptions, mainly changes in the discount rate. |
Schedule of movement in other reserves | Movements in other reserves and changes in interest were as follows: Foreign Reserve for cash flow Reserve for actuarial gains Reserve for gains (losses) Other Total reserves Movements Before Before Deferred Before Deferred Before Deferred Before Reserves Deferred Total ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Opening balance as of January 1, 2021 (11,569) 6,173 (1,682) (10,527) 1,847 10,176 (3,304) 16,318 10,571 (3,139) 7,432 Movement of reserves 4,046 (66,051) — 4,648 — (12,072) — 134 (69,295) — (69,295) Reclassification adjustments (390) 13,289 — — — — — (3,349) 9,550 — 9,550 Related taxes — — 14,246 — (142) — 3,818 — — 17,922 17,922 Reclassification to retained earnings — — — — — (13,375) 3,611 — (13,375) 3,611 (9,764) Closing balance as of December 31, 2021 (7,913) (46,589) 12,564 (5,879) 1,705 (15,271) 4,125 13,103 (62,549) 18,394 (44,155) Movement of reserves (129) 36,079 — (6,276) — 190 — (985) 28,879 — 28,879 Reclassification adjustments — (9,457) — — — — — (455) (9,912) — (9,912) Related taxes — — (7,172) — 1,252 — (17) — — (5,937) (5,937) Closing balance as of December 31, 2022 (8,042) (19,967) 5,392 (12,155) 2,957 (15,081) 4,108 11,663 (43,582) 12,457 (31,125) Movement of reserves 3,121 126 — (5,836) — 190,509 — 218 188,138 — 188,138 Reclassification adjustments — 18,566 — — — — — — 18,566 — 18,566 Related taxes — — (5,047) — 1,580 — (57,242) — — (60,709) (60,709) Closing balance as of December 31, 2023 (4,921) (1,275) 345 (17,991) 4,537 175,428 (53,134) 11,881 163,122 (48,252) 114,870 ________________________________________________ (1) See details on reserves for foreign currency translation differences on conversion in Note 23, letter b). |
Schedule of legal reserves reported in the individual financial statements of the subsidiaries | Subsidiary – Associate As of As of As of ThUS$ ThUS$ ThUS$ SQM Iberian S.A. 9,464 9,464 9,464 SQM Europe NV 1,957 1,957 1,957 Soquimich European holding B.V. 828 828 828 Abu Dhabi Fertilizer Industries WWL — — 455 Soquimich Comercial S.A. (393) (401) — SQM Vitas Fzco. 85 85 (38) Pavoni & C. Spa 7 7 7 SAS Adionics 116 — — SQM Australia Pty Ltd 94 — — SQM Iberian S.A. (1,677) (1,677) (1,677) Orcoma Estudios SPA 2,121 2,121 2,121 SQM Industrial S.A. — — 707 Others (721) (721) (721) Total Other reserves 11,881 11,663 13,103 |
Schedule of noncontrolling interests | % of interests in the Net income attributable to non-controlling interests for the year ended Equity, non-controlling interests for the year ended Dividends paid to non-controlling interests for the year ended Subsidiary As of As of As of As of As of As of ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ SQM Potasio S.A. 0.0000001% — — — — — — Ajay SQM Chile S.A. 49.00000% 3,238 2,415 9,795 8,986 2,428 1,811 Soquimich Comercial S.A. 39.36168% 3,838 5,558 26,435 26,383 3,837 5,558 Comercial Agrorama Ltda. (1) 30.00000% — — — — — — SQM Indonesia S.A. 20.00000% — — — — — — SQM Thailand Limited 0.00200% — — — — — — Total 7,076 7,973 36,230 35,369 6,265 7,369 (1) As of December 31, 2022, a 30% non-controlling interest was acquired by Comercial Hydro S.A., a Company subsidiary. |
Schedule of dividends | Dividends discounted from equity from January to December 2023 and 2022 were the following: Dividends As of As of As of ThUS$ ThUS$ ThUS$ Interim dividend 542,847 2,204,229 157,774 Final dividend 920,819 — 399,998 Dividend according to policy 60,953 — 27,681 Owners of the Parent 1,524,619 2,204,229 585,453 Dividend eventual — — 5,904 Dividends according to policy 6,266 7,369 6,504 Non-controlling interests 6,266 7,369 12,408 Dividends discounted from equity for the period 1,530,885 2,211,598 597,861 |
Gains (losses) from operating_2
Gains (losses) from operating activities in the statement of income of expenses, included according to their nature (Tables) | 12 Months Ended |
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 Iodine and Lithium and Potassium Industrial Other Total 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 Iodine and Lithium and Potassium Industrial Other Total 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 Iodine and Lithium and Potassium Industrial Other Total 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 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 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$24,387 in September 2023, related to the permanence of its commercial office of SQM Shanghai Chemicals Co. Ltd. in the current district, which was recognized as part of this category |
Schedule of administrative expenses | For the period from January Administrative expenses 2023 2022 2021 ThUS$ 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 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 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 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 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 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 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 |
Reportable segments (Tables)
Reportable segments (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of operating segments [abstract] | |
Schedule of reportable segments | Operating segment items for the year ended December 31, 2023 Specialty Iodine and its Lithium and Industrial Potassium Other Reportable Operating Unallocated Total as of ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Revenue 913,912 892,151 5,180,114 175,223 279,050 27,040 7,467,490 7,467,490 — 7,467,490 Revenues from transactions with other operating segments of the same entity — — — — — — — — — — Revenues from external customers and transactions with other operating segments of the same entity 913,912 892,151 5,180,114 175,223 279,050 27,040 7,467,490 7,467,490 — 7,467,490 Costs of sales (691,509) (355,717) (2,955,669) (141,351) (219,597) (28,593) (4,392,436) (4,392,436) — (4,392,436) Administrative expenses — — — — — — — — (175,765) (175,765) Finance expense — — — — — — — — (138,402) (138,402) Depreciation and amortization expense (70,342) (53,140) (124,010) (15,232) (18,006) (57) (280,787) (280,787) — (280,787) The entity’s interest in the income of associates and joint ventures accounted for by the equity method — — — — — — — — 593 593 Income before taxes 222,403 536,434 2,224,445 33,872 59,453 (1,553) 3,075,054 3,075,054 (268,036) 2,807,018 Income tax expense — — — — — — — — (1,876,751) (1,876,751) Net income (loss) 222,403 536,434 2,224,445 33,872 59,453 (1,553) 3,075,054 3,075,054 (2,144,787) 930,267 Assets — — — — — — — — 10,778,837 10,778,837 Equity-accounted investees — — — — — — — — 86,417 86,417 Incorporation of non-current assets other than financial instruments, deferred tax assets, net defined benefit assets and rights arising from insurance contracts — — — — — — — — 2,785,385 2,785,385 Liabilities — — — — — — — — 6,301,408 6,301,408 Impairment loss of financial assets recognized in income — — 202 202 Impairment loss of non-financial assets recognized in income — — — — — — — — (47,068) (47,068) Cash flows Cash flows from operating activities — — — — — — — — (196,639) (196,639) Cash flows used in investing activities — — — — — — — — (1,481,493) (1,481,493) Cash flows from financing activities — — — — — — — — 66,261 66,261 Operating segment items for the year ended December 31, 2022 Specialty Iodine and its Lithium and Industrial Potassium Other Reportable Operating Unallocated Total as of ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Revenue 1,172,334 754,339 8,152,939 165,200 437,180 28,586 10,710,578 10,710,578 — 10,710,578 Revenues from transactions with other operating segments of the same entity — — — — — — — — — — Revenues from external customers and transactions with other operating segments of the same entity 1,172,334 754,339 8,152,939 165,200 437,180 28,586 10,710,578 10,710,578 — 10,710,578 Costs of sales (722,261) (282,100) (3,636,852) (112,247) (193,581) (26,912) (4,973,953) (4,973,953) — (4,973,953) Administrative expenses — — — — — — — — (142,644) (142,644) Finance expense — — — — — — — — (86,651) (86,651) Depreciation and amortization expense (63,321) (53,734) (88,510) (14,724) (24,043) (126) (244,458) (244,458) — (244,458) The entity’s interest in the income of associates and joint ventures accounted for by the equity method — — — — — — — — 20,159 20,159 Income before taxes 450,073 472,239 4,516,087 52,953 243,599 1,674 5,736,625 5,736,625 (250,129) 5,486,496 Income tax expense — — — — — — — — (1,572,212) (1,572,212) Net income (loss) 450,073 472,239 4,516,087 52,953 243,599 1,674 5,736,625 5,736,625 (1,822,341) 3,914,284 Assets — — — — — — — — 10,819,101 10,819,101 Equity-accounted investees — — — — — — — — 54,386 54,386 Incorporation of non-current assets other than financial instruments, deferred tax assets, net defined benefit assets and rights arising from insurance contracts — — — — — — — — 1,757,581 1,757,581 Liabilities — — — — — — — — 5,887,100 5,887,100 Impairment loss of financial assets recognized in income — — 3,369 3,369 Impairment loss of non-financial assets recognized in income — — — — — — — — (42,233) (42,233) Cash flows Cash flows from operating activities — — — — — — — — 4,077,595 4,077,595 Cash flows used in investing activities — — — — — — — — (909,401) (909,401) Cash flows from financing activities — — — — — — — — (2,002,969) (2,002,969) Operating segment items for the year ended December 31, 2021 Specialty Iodine and its Lithium and Industrial Potassium Other Reportable Operating Unallocated Total as of ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Revenue 908,815 437,931 936,121 132,011 416,592 30,845 2,862,315 2,862,315 — 2,862,315 Revenues from transactions with other operating segments of the same entity — — — — — — — — — — Revenues from external customers and transactions with other operating segments of the same entity 908,815 437,931 936,121 132,011 416,592 30,845 2,862,315 2,862,315 — 2,862,315 Costs of sales (646,930) (240,341) (494,794) (109,067) (253,125) (27,951) (1,772,208) (1,772,208) — (1,772,208) Administrative expenses — — — — — — — — (118,893) (118,893) Finance expense — — — — — — — — (84,626) (84,626) Depreciation and amortization expense (58,808) (41,215) (65,014) (13,743) (35,290) (169) (214,239) (214,239) — (214,239) The entity’s interest in the income of associates and joint ventures accounted for by the equity method — — — — — — — — 11,132 11,132 Income before taxes 261,885 197,590 441,327 22,944 163,467 2,894 1,090,107 1,090,107 (248,886) 841,221 Income tax expense — — — — — — — — (249,016) (249,016) Net income (loss) 261,885 197,590 441,327 22,944 163,467 2,894 1,090,107 1,090,107 (497,902) 592,205 Assets — — — — — — — — 7,180,201 7,180,201 Equity-accounted investees — — — — — — — — 39,824 39,824 Incorporation of non-current assets other than financial instruments, deferred tax assets, net defined benefit assets and rights arising from insurance contracts — — — — — — — — 152,663 152,663 Other Liabilities — — — — — — — — 3,964,230 3,964,230 Impairment loss of financial assets recognized in income — — — — — — — — (235) (235) Impairment loss of non-financial assets recognized in income — — — — — — — — (6,060) (6,060) Cash flows Cash flows from operating activities — — — — — — — — 822,520 822,520 Cash flows used in investing activities — — — — — — — — (1,006,943) (1,006,943) Cash flows from financing activities — — — — — — — — 1,206,485 1,206,485 Items in the statement of comprehensive income for the year ended December 31,2023 Specialty plant nutrients Iodine and its derivatives Lithium and its derivatives Industrial chemicals Potassium Other products and services Corporate Unit Total segments and Corporate unit ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Revenue 913,912 892,151 5,180,114 175,223 279,050 27,040 — 7,467,490 Costs of sales (691,509) (355,717) (2,955,669) (141,351) (219,597) (28,593) — (4,392,436) Gross profit 222,403 536,434 2,224,445 33,872 59,453 (1,553) — 3,075,054 Other incomes by function — — — — — — 40,557 40,557 Administrative expenses — — — — — — (175,765) (175,765) Other expenses by function — — — — — — (93,400) (93,400) Impairment of gains and review of impairment losses (impairment losses) determined in accordance with IFRS 9 — — — — — — 202 202 Other losses — — — — — — (2,254) (2,254) Financial income — — — — — — 122,726 122,726 Financial costs — — — — — — (138,402) (138,402) Interest in the income of associates and joint ventures accounted for by the equity method — — — — — — 593 593 Exchange differences — — — — — — (22,293) (22,293) Income before taxes 222,403 536,434 2,224,445 33,872 59,453 (1,553) (268,036) 2,807,018 Income tax expense — — — — — — (1,876,751) (1,876,751) Net income 222,403 536,434 2,224,445 33,872 59,453 (1,553) (2,144,787) 930,267 Items in the statement of comprehensive income for the year ended December 31,2022 Specialty plant nutrients Iodine and its derivatives Lithium and its derivatives Industrial chemicals Potassium Other products and services Corporate Unit Total segments and Corporate unit ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Revenue 1,172,334 754,339 8,152,939 165,200 437,180 28,586 — 10,710,578 Costs of sales (722,261) (282,100) (3,636,852) (112,247) (193,581) (26,912) — (4,973,953) Gross profit 450,073 472,239 4,516,087 52,953 243,599 1,674 — 5,736,625 Other incomes by function — — — — — — 9,854 9,854 Administrative expenses — — — — — — (142,644) (142,644) Other expenses by function — — — — — — (75,971) (75,971) Impairment of gains and review of impairment losses (impairment losses) determined in accordance with IFRS 9 — — — — — — 3,369 3,369 Other gains — — — — — — 117 117 Financial income — — — — — — 47,038 47,038 Financial costs — — — — — — (86,651) (86,651) Interest in the income of associates and joint ventures accounted for by the equity method — — — — — — 20,159 20,159 Exchange differences — — — — — — (25,400) (25,400) Income before taxes 450,073 472,239 4,516,087 52,953 243,599 1,674 (250,129) 5,486,496 Income tax expense — — — — — — (1,572,212) (1,572,212) Net income 450,073 472,239 4,516,087 52,953 243,599 1,674 (1,822,341) 3,914,284 Items in the statement of comprehensive income for the year ended December 31,2021 Specialty plant nutrients Iodine and its derivatives Lithium and its derivatives Industrial chemicals Potassium Other products and services Corporate Unit Total segments and Corporate unit ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Revenue 908,815 437,931 936,121 132,011 416,592 30,845 — 2,862,315 Cost of sales (646,930) (240,341) (494,794) (109,067) (253,125) (27,951) — (1,772,208) Gross profit 261,885 197,590 441,327 22,944 163,467 2,894 — 1,090,107 Other incomes by function — — — — — — 19,552 19,552 Administrative expenses — — — — — — (118,893) (118,893) Other expenses by function — — — — — — (60,605) (60,605) Impairment of gains and review of impairment losses (impairment losses) determined in accordance with IFRS 9 — — — — — — (235) (235) Other losses — — — — — — (2,638) (2,638) Financial income — — — — — — 4,668 4,668 Financial costs — — — — — — (84,626) (84,626) Interest in the income of associates and joint ventures accounted for by the equity method — — — — — — 11,132 11,132 Exchange differences — — — — — — (17,241) (17,241) Income before taxes 261,885 197,590 441,327 22,944 163,467 2,894 (248,886) 841,221 Income tax expense — — — — — — (249,016) (249,016) Net income from continuing operations 261,885 197,590 441,327 22,944 163,467 2,894 (497,902) 592,205 |
Schedule of geographical areas | Segments by geographical areas Chile Latin America and the Europe North America Asia and others Total ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Revenue at December 31, 2023 169,681 210,299 828,112 783,611 5,475,787 7,467,490 Non-current assets at December 31, 2023 Investment accounted for under the equity method — 22,490 42,726 17,657 3,544 86,417 Intangible assets other than goodwill 67,671 360 6,440 876 80,527 155,874 Goodwill — 86 148 724 — 958 Property, plant and equipment, net 2,888,778 776 14,485 6,322 699,576 3,609,937 Right-of-use assets 32,359 19 3,716 8,619 28,480 73,193 Other non-current assets 60,363 18 — 5,099 308,220 373,700 Non-current assets 3,049,171 23,749 67,515 39,297 1,120,347 4,300,079 Segments by geographical areas Chile Latin America and the Europe North America Asia and others Total ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Revenue for the year ended December 31, 2022 223,148 339,940 932,558 914,187 8,300,745 10,710,578 Non-current assets at December 31, 2022 Investment accounted for under the equity method — 20,792 15,939 17,655 — 54,386 Intangible assets other than goodwill 75,666 428 6,497 1,345 82,400 166,336 Goodwill — 86 158 723 — 967 Property, plant and equipment, net 2,269,923 743 14,978 4,506 436,688 2,726,838 Right-of-use assets 32,312 47 1,651 2,739 24,118 60,867 Other non-current assets 46,640 17 6 4,706 1,027 52,396 Non-current assets 2,424,541 22,113 39,229 31,674 544,233 3,061,790 Segments by geographical areas Chile Latin America and the Europe North America Asia and others Total ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Revenue for the year ended December 31, 2021 219,648 326,287 482,765 558,002 1,275,613 2,862,315 Non-current assets at December 31, 2021 Investment accounted for under the equity method — 8,683 15,242 15,899 — 39,824 Intangible assets other than goodwill 89,019 496 6,996 1,809 81,338 179,658 Goodwill 22,979 86 11,531 — — 34,596 Property, plant and equipment, net 1,815,997 671 11,380 3,704 180,473 2,012,225 Right-of-use assets 29,803 68 2,040 3,351 17,346 52,608 Other non-current assets 27,626 16 6 3,950 1,889 33,487 Non-current assets 1,985,424 10,020 47,195 28,713 281,046 2,352,398 |
Effect of fluctuations in for_2
Effect of fluctuations in foreign currency exchange rates (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Effect Of Fluctuations In Foreign Currency Exchange Rates | |
Schedule of reserves for foreign currency exchange differences | As of December 31, 2023, and 2022, are detailed as follows: Details As of As of As of ThUS$ ThUS$ ThUS$ Changes in equity generated by the equity method value through conversion: Comercial Hydro S.A. 1,004 1,004 1,004 SQMC Internacional Ltda. (9) (9) (9) Proinsa Ltda. (10) (10) (10) Comercial Agrorama Ltda. 188 175 155 Isapre Norte Grande Ltda. (147) (130) (121) Almacenes y Depósitos Ltda. 662 568 305 Sacal S.A. (3) (3) (3) Sociedad Prestadora de Servicios de Salud Cruz del Norte S.A. (41) (38) (36) Agrorama S.A. 730 666 628 SQM Vitas Fzco (1,164) (3,614) (4,165) Ajay Europe (1,529) (1,911) (1,413) SQM Oceanía Pty Ltd. (579) (579) (579) SQM Indonesia S.A. (124) (124) (124) Abu Dhabi Fertillizers Industries WWL. — — 372 SQM Holland B.V. 99 99 99 SQM Thailand Limited (68) (68) (68) SQM Europe (1,983) (1,983) (1,983) SQM Australia Pty Ltd. (1,643) (1,642) (1,732) Pavoni & C. Spa (224) (363) (153) SQM Colombia S.A.S. (80) (80) (80) Total (4,921) (8,042) (7,913) |
Disclosures on the effects of_2
Disclosures on the effects of fluctuations in foreign currency exchange rates (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Foreign exchange rates [abstract] | |
Schedule of assets held in foreign currency subject to fluctuations in exchange rates | Class of Asset Currency As of As of ThUS$ ThUS$ Cash and cash equivalents USD 855,001 1,637,507 Cash and cash equivalents CLP 3,425 806,106 Cash and cash equivalents CNY 31,362 92,394 Cash and cash equivalents EUR 11,183 14,963 Cash and cash equivalents GBP 26 1 Cash and cash equivalents AUD 108,883 89,602 Cash and cash equivalents MXN 649 1,406 Cash and cash equivalents AED 6 2 Cash and cash equivalents JPY 899 686 Cash and cash equivalents NOK 8 — Cash and cash equivalents ZAR 10,559 11,647 Cash and cash equivalents KRW 19,364 918 Cash and cash equivalents IDR 3 3 Cash and cash equivalents PLN 1 1 Subtotal cash and cash equivalents 1,041,369 2,655,236 Other current financial assets USD 879,612 722,165 Other current financial assets BRL 10 39 Other current financial assets CLP 446,221 239,151 Subtotal other current financial assets 1,325,843 961,355 Other current non-financial assets USD 22,092 35,237 Other current non-financial assets AUD 4,870 9,516 Other current non-financial assets CLF 227 259 Other current non-financial assets CLP 85,079 85,608 Other current non-financial assets CNY 529 56,404 Other current non-financial assets EUR 1,304 1,046 Other current non-financial assets COP 294 217 Other current non-financial assets MXN 2,014 4,685 Other current non-financial assets THB 2 2 Other current non-financial assets JPY 2,267 158 Other current non-financial assets ZAR 41 3,203 Other current non-financial assets KRW 18,031 — Subtotal other non-financial current assets 136,750 196,335 Trade and other receivables USD 516,261 788,596 Trade and other receivables BRL 8 22 Trade and other receivables CLF 1,330 550 Trade and other receivables CLP 61,146 58,412 Trade and other receivables CNY 282,117 161,492 Trade and other receivables EUR 25,542 36,318 Trade and other receivables GBP 147 76 Trade and other receivables MXN 670 889 Trade and other receivables AED 1,467 3,116 Trade and other receivables JPY 382 129 Trade and other receivables AUD 2,598 1,708 Trade and other receivables ZAR 12,295 33,361 Trade and other receivables KRW 8 — Trade and other receivables COP 3,210 2,751 Subtotal trade and other receivables 907,181 1,087,420 Class of Asset Currency As of As of ThUS$ ThUS$ Receivables from related parties USD 40,236 79,331 Receivables from related parties EUR 3,017 1,250 Receivables from related parties AUD — 1,041 Subtotal receivables from related parties 43,253 81,622 Current inventories USD 1,774,594 1,784,281 Subtotal Current Inventories 1,774,594 1,784,281 Current tax assets USD 611,841 127,068 Current tax assets BRL 2 1 Current tax assets CLP 3,637 2,125 Current tax assets EUR 13,556 14,042 Current tax assets MXN 5,216 59 Current tax assets JPY 11 — Current tax assets CNY — 77,397 Current tax assets ZAR 29 28 Current tax assets COP 2,741 1,481 Current tax assets KRW — 2,713 Subtotal current tax assets 637,033 224,914 Non-current assets or groups of assets classified as held for sale USD 118 346 Subtotal Non-current assets or groups of assets classified as held for sale 118 346 Total current assets 5,866,141 6,991,509 Other non-current financial assets USD 248,281 32,126 Subtotal Other non-current financial assets 248,281 32,126 Other non-current non-financial assets USD 65,616 52,396 Other non-current non-financial assets CNY 308,084 — Subtotal Other non-current non-financial assets 373,700 52,396 Other receivables, non-current USD 705 713 Other receivables, non-current CLF 9 77 Other receivables, non-current MXN 179 88 Other receivables, non-current KRW 667 — Other receivables, non-current CLP 999 1,213 Subtotal Other receivables, non-current 2,559 2,091 Investments classified using the equity method of accounting USD 76,532 22,959 Investments classified using the equity method of accounting AED 2,778 19,597 Investments classified using the equity method of accounting EUR 7,107 11,830 Subtotal Investments classified using the equity method of accounting 86,417 54,386 Intangible assets other than goodwill USD 155,874 166,336 Subtotal intangible assets other than goodwill 155,874 166,336 Purchases goodwill, gross USD 958 967 Subtotal Purchases goodwill, gross 958 967 Property, plant and equipment USD 3,609,937 2,726,838 Subtotal property, plant and equipment 3,609,937 2,726,838 Right-of-use assets USD 73,193 60,867 Subtotal Right-of-use assets 73,193 60,867 Non-current tax assets USD 59,541 127,114 Subtotal non-current tax assets 59,541 127,114 Deferred tax assets USD 302,236 604,471 Subtotal Deferred tax assets 302,236 604,471 Total non-current assets 4,912,696 3,827,592 Total assets 10,778,837 10,819,101 |
Schedule of liabilities held in foreign currencies | As of December 31, 2023 As of December 31, 2022 Class of liability Currency Up to 90 days More than 90 Total Up to 90 days More than 90 Total ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Current liabilities Other current financial liabilities USD 773,314 462,656 1,235,970 120,652 381,922 502,574 Other current financial liabilities CLF 20,191 338 20,529 20,094 331 20,425 Subtotal other current financial liabilities 793,505 462,994 1,256,499 140,746 382,253 522,999 Lease liabilities, current USD — 9,293 9,293 — 6,549 6,549 Lease liabilities, current CLF — 2,284 2,284 — 2,331 2,331 Lease liabilities, current MXN — 3,573 3,573 — 436 436 Lease liabilities, current EUR — 438 438 — 387 387 Lease liabilities, current AUD — 2,604 2,604 — 2,446 2,446 Subtotal Lease liabilities, current — 18,192 18,192 — 12,149 12,149 Trade and other payables USD 87,043 7,310 94,353 121,260 110 121,370 Trade and other payables CLF 3,614 — 3,614 2,618 — 2,618 Trade and other payables BRL 12 — 12 10 — 10 Trade and other payables THB 4 — 4 4 — 4 Trade and other payables CLP 227,990 52 228,042 162,470 — 162,470 Trade and other payables CNY 28,562 — 28,562 4,757 — 4,757 Trade and other payables EUR 52,883 6,399 59,282 56,118 564 56,682 Trade and other payables GBP 18 — 18 18 — 18 Trade and other payables MXN 1,499 — 1,499 802 — 802 Trade and other payables AUD 32,439 7 32,446 24,394 — 24,394 Trade and other payables ZAR 984 — 984 1,256 — 1,256 Trade and other payables AED — — — 72 — 72 Trade and other payables JPY — — — — — — Trade and other payables CHF 21 — 21 32 — 32 Trade and other payables COP 302 — 302 115 — 115 Trade and other payables CAD 2 — — — Trade and other payables KRW 492 — 492 189 — 189 Subtotal trade and other payables 435,865 13,768 449,633 374,115 674 374,789 Trade payables due to related parties AUD 2,346 — 2,346 — — — Subtotal Trade payables due to related parties 2,346 — 2,346 — — — Other current provisions USD 384,972 6,793 391,765 1,300,878 2,051 1,302,929 Other current provisions CLP 332 — 332 — 217 217 Other current provisions JPY 225 — 225 — — — As of December 31, 2023 As of December 31, 2022 Class of liability Currency Up to 90 days More than 90 Total Up to 90 days More than 90 Total ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Subtotal other current provisions 385,529 6,793 392,322 1,300,878 2,268 1,303,146 Current tax liabilities USD 162,743 9,805 172,548 — 348,658 348,658 Current tax liabilities CLP — 513 513 — 999 999 Current tax liabilities EUR — 4,850 4,850 — 1,386 1,386 Current tax liabilities MXN — — — — 5,568 5,568 Current tax liabilities AUD — 169 169 — — — Current tax liabilities KRW — 5,197 5,197 — — — Current tax liabilities CNY — 356 356 — — — Subtotal current tax liabilities 162,743 20,890 183,633 — 356,611 356,611 Provisions for employee benefits, current USD 21,575 — 21,575 25,867 8,631 34,498 Provisions for employee benefits, current AUD 492 — 492 390 — 390 Provisions for employee benefits, current EUR 560 — 560 385 — 385 Provisions for employee benefits, current CLP 1,117 — 1,117 — — — Provisions for employee benefits, current MXN 202 — 202 103 — 103 Subtotal Provisions for employee benefits, current 23,946 — 23,946 26,745 8,631 35,376 Other current non-financial liabilities USD 57,114 61,037 118,151 393,401 98 393,499 Other current non-financial liabilities BRL 17 — 17 1 — 1 Other current non-financial liabilities CLP 32,780 24,787 57,567 8,281 39,456 47,737 Other current non-financial liabilities CNY 134 — 134 92 — 92 Other current non-financial liabilities EUR 669 969 1,638 1,564 250 1,814 Other current non-financial liabilities MXN 966 16 982 725 14 739 Other current non-financial liabilities JPY 49 — 49 47 — 47 Other current non-financial liabilities PEN — — — — — — Other current non-financial liabilities COP 202 — 202 250 — 250 Other current non-financial liabilities ARS — — — 26 — 26 Other current non-financial liabilities ZAR 550 — 550 — 1 1 Other current non-financial liabilities KRW 8,015 — 8,015 2,271 — 2,271 Subtotal other current non-financial liabilities 100,496 86,809 187,305 406,658 39,819 446,477 Total current liabilities 1,904,430 609,446 2,513,876 2,249,142 802,405 3,051,547 As of December 31, 2023 Class of liability Currency Over 1 year to 2 Over 2 years to 3 Over 3 years to 4 Over 4 years to 5 Over 5 years Total ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Non-current liabilities Other non-current financial liabilities USD 249,963 195,833 99,685 — 2,271,326 2,816,807 Other non-current financial liabilities CLF — — — — 396,615 396,615 Subtotal Other non-current financial liabilities 249,963 195,833 99,685 — 2,667,941 3,213,422 Non-current lease liabilities USD — 13,059 — 4,843 — 17,902 Non-current lease liabilities CLP — — — 21 — 21 Non-current lease liabilities CLF — 8,971 — — — 8,971 Non-current lease liabilities MXN — — — 4,235 — 4,235 Non-current lease liabilities EUR — — — 3,315 — 3,315 Non-current lease liabilities AUD — — — 22,522 — 22,522 Subtotal non-current lease liabilities — 22,030 — 34,936 — 56,966 Non-current Trade and other payables USD — — — — — — Subtotal Non-current Trade and other payables — — — — — — Other non-current provisions USD — 27,599 — — 32,851 60,450 Subtotal Other non-current provisions — 27,599 — — 32,851 60,450 Deferred tax liabilities USD — 394,688 — — — 394,688 Subtotal Deferred tax liabilities — 394,688 — — — 394,688 Provisions for employee benefits, non-current USD 10,008 8,066 — — 440 18,514 Provisions for employee benefits, non-current CLP 42,813 — — — — 42,813 Provisions for employee benefits, non-current MXN 314 — — — — 314 Provisions for employee benefits, non-current AUD — — — — 91 91 Provisions for employee benefits, non-current JPY 218 — — — — 218 Provisions for employee benefits, non-current EUR 56 — — — — 56 Subtotal Provisions for employee benefits, non-current 53,409 8,066 — — 531 62,006 Total non-current liabilities 303,372 648,216 99,685 34,936 2,701,323 3,787,532 Total liabilities 6,301,408 As of December 31, 2022 Class of liability Currency Over 1 year to 2 Over 2 years to 3 Over 3 years to 4 Over 4 years to 5 Over 5 years Total ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Non-current liabilities Other non-current financial liabilities USD — 197,521 249,531 — 1,544,654 1,991,706 Other non-current financial liabilities CLF — — — — 402,512 402,512 Subtotal Other non-current financial liabilities — 197,521 249,531 — 1,947,166 2,394,218 Non-current lease liabilities USD — 13,566 — 22,500 — 36,066 Non-current lease liabilities CLP — — — 23 — 23 Non-current lease liabilities CLF — — — 10,982 — 10,982 Non-current lease liabilities MXN — — — 1,094 — 1,094 Non-current lease liabilities EUR — — — 1,420 — 1,420 Subtotal non-current lease liabilities — 13,566 — 36,019 — 49,585 Non-current Trade and other payables USD — — — — — — Subtotal Non-current Trade and other payables — — — — — — Other non-current provisions USD — 3,648 — 26,200 28,205 58,053 Subtotal Other non-current provisions — 3,648 — 26,200 28,205 58,053 Deferred tax liabilities USD — 289,825 — — — 289,825 Subtotal Deferred tax liabilities — 289,825 — — — 289,825 Provisions for employee benefits, non-current USD 34,326 — — — 9,006 43,332 Provisions for employee benefits, non-current CLP 540 — — — — 540 Subtotal Provisions for employee benefits, non-current 34,866 — — — 9,006 43,872 Total non-current liabilities 34,866 504,560 249,531 62,219 1,984,377 2,835,553 Total liabilities 5,887,100 |
Schedule of exchange rate changes on the statement of income explanatory | For the period from January to December of the year Foreign currency exchange rate changes 2023 2022 2021 ThUS$ ThUS$ ThUS$ Foreign currency loss (22,293) (25,400) (17,241) Foreign currency translation reserve 3,177 (255) 4,240 Total (19,116) (25,655) (13,001) |
Income tax and deferred taxes (
Income tax and deferred taxes (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Major components of tax expense (income) [abstract] | |
Schedule of current and non-current tax assets | Current tax assets As of As of ThUS$ ThUS$ Monthly provisional income tax payments, Chilean companies 584,382 894 Monthly provisional income tax payments, foreign companies 26,741 96,906 Corporate tax credits (1) 1,918 653 1st category tax absorbed by tax losses (2) 1,872 169 Taxes in recovery process 22,120 126,292 Total 637,033 224,914 Non-current tax assets As of As of ThUS$ ThUS$ Non current tax receivable (see note 20.3) 59,541 127,114 Total 59,541 127,114 (1) These credits are available for companies and are related to corporate tax payments in April of the following year. These credits include, among others, credits for training expenses (SENCE), credits for acquisition of fixed assets, donations and credits in Chile for taxes paid abroad. (2) This concept corresponds to the tax loss absorptions determined by the company at the end of the year, which must be attributed to the dividends received during the year. |
Schedule of current tax liabilities | Current tax liabilities As of As of ThUS$ ThUS$ Chilean income tax 636 337,245 Specific mining tax to lithium mining (see note 20.3) 162,743 — Foreign company income tax 20,254 19,366 Total 183,633 356,611 |
Schedule of income tax rates | The income tax rate for the main countries where the Company operates is presented below: Country Income tax Income tax Spain 25 % 25 % Belgium 25 % 25 % Mexico 30 % 30 % United States 21% +3% 21% + 3.51% South Africa 27 % 28 % South Korea 24 % (2) 25 % China 25%+12% (1) 25%+12% (1) (1) Additional tax of 12% on VAT payable. (2) Sliding scale from 9% to 24% of taxable income. |
Schedule of deferred taxes | Net liability position Description of deferred tax assets and liabilities as of December 31, 2023 Assets Liabilities ThUS$ ThUS$ Unrealized loss 321,340 — Property, plant and equipment and capitalized interest (1) — (240,056) Restoration and rehabilitation provision 6,336 — Manufacturing expenses — (159,879) Employee benefits and unemployment insurance — (9,438) Vacation accrual 9,373 — Inventory provision 34,718 — Materials provision 14,405 — Others employee benefits 6,561 — Research and development expenses — (16,046) Bad debt provision 3,060 — Provision for legal complaints and expenses 2,932 — Loan acquisition expenses — (12,735) Financial instruments recorded at market value — (52,016) Specific tax on mining activity — (3,303) Tax loss benefit 23,340 — Other — (21,119) Foreign items (other) 75 — Balances to date 422,140 (514,592) Net balance (92,452) (1) This includes right-of-use assets. (b) Deferred tax assets and liabilities as of December 31, 2022 Net liability position Description of deferred tax assets and liabilities as of December 31, 2022 Assets Liabilities ThUS$ ThUS$ Unrealized loss 655,695 — Property, plant and equipment and capitalized interest (1) — (244,560) Restoration and rehabilitation provision 4,685 — Manufacturing expenses — (139,383) Employee benefits and unemployment insurance — (8,995) Vacation accrual 7,650 — Inventory provision 27,512 — Materials provision 11,915 — Others employee benefits 1,177 — Research and development expenses — (12,294) Bad debt provision 715 — Provision for legal complaints and expenses 6,827 — Loan acquisition expenses — (8,793) Financial instruments recorded at market value 5,226 — Specific tax on mining activity — (5,799) Tax loss benefit 10,059 — Other 2,913 — Foreign items (other) 96 — Balances to date 734,470 (419,824) Net balance 314,646 (1) This item includes right-of-use assets. |
Schedule of movement in deferred taxes | Deferred tax assets and liabilities in the consolidated statement of financial position as of December 31, 2023 and 2022, are as follows: Movements of deferred tax assets and liabilities As of As of ThUS$ ThUS$ Deferred tax assets 302,236 604,471 Deferred tax liabilities (394,688) (289,825) Total (92,452) 314,646 |
Schedule of deferred tax liabilities (assets) | Reconciliation of changes in deferred tax assets (liabilities) in deferred tax as of December 31, 2023 Deferred tax Deferred tax Deferred taxes Total change in deferred taxes Deferred tax ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Unrealized loss 655,695 (334,355) — (334,355) 321,340 Property, plant and equipment and capitalized interest (244,560) 4,504 — 4,504 (240,056) Restoration and rehabilitation provision 4,685 1,651 — 1,651 6,336 Manufacturing expenses (139,383) (20,496) — (20,496) (159,879) Employee benefits and unemployment insurance (8,995) (2,020) 1,577 (443) (9,438) Vacation accrual 7,650 1,723 — 1,723 9,373 Inventory provision 27,512 7,206 — 7,206 34,718 Materials provision 11,915 2,490 — 2,490 14,405 Derivative financial instruments — 5,047 (5,047) — — Others employee benefits 1,177 5,384 — 5,384 6,561 Research and development expenses (12,294) (3,752) — (3,752) (16,046) Bad debt provision 715 2,345 — 2,345 3,060 Provision for legal complaints and expenses 6,827 (3,895) — (3,895) 2,932 Loan approval expenses (8,793) (3,942) — (3,942) (12,735) Financial instruments recorded at market value 5,226 — (57,242) (57,242) (52,016) Specific tax on mining activity (5,799) 2,491 5 2,496 (3,303) Tax loss benefit 10,059 13,281 — 13,281 23,340 Others 2,913 (24,032) — (24,032) (21,119) Foreign items (other) 96 (21) — (21) 75 Total temporary differences, unused losses and unused tax credits 314,646 (346,391) (60,707) (407,098) (92,452) Reconciliation of changes in deferred tax assets (liabilities) in deferred tax as of December 31, 2022 Deferred tax Deferred tax Deferred taxes Total change in deferred taxes Deferred tax ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Unrealized loss 144,181 511,514 — 511,514 655,695 Property, plant and equipment and capitalized interest (189,073) (55,487) — (55,487) (244,560) Restoration and rehabilitation provision 6,567 (1,882) — (1,882) 4,685 Manufacturing expenses (108,181) (31,202) — (31,202) (139,383) Employee benefits and unemployment insurance (7,486) (2,779) 1,270 (1,509) (8,995) Vacation accrual 6,039 1,611 — 1,611 7,650 Inventory provision 20,557 6,955 — 6,955 27,512 Materials provision 10,554 1,361 — 1,361 11,915 Derivative financial instruments — 7,172 (7,172) — — Others employee benefits 929 248 — 248 1,177 Research and development expenses (5,387) (6,907) — (6,907) (12,294) Bad debt provision 2,708 (1,993) — (1,993) 715 Provision for legal complaints and expenses 334 6,493 — 6,493 6,827 Loan approval expenses (8,967) 174 — 174 (8,793) Financial instruments recorded at market value 5,243 — (17) (17) 5,226 Specific tax on mining activity (4,545) (1,257) 3 (1,254) (5,799) Tax loss benefit 8,557 1,502 — 1,502 10,059 Others (4,274) 7,187 — 7,187 2,913 Foreign items (other) 11,828 (11,732) — (11,732) 96 Total temporary differences, unused losses and unused tax credits (110,416) 430,978 (5,916) 425,062 314,646 |
schedule of net operating loss carryforwards | As of December 31, 2023, and 2022, tax loss carryforwards are detailed as follows: Deferred taxes related to benefits for tax losses As of As of ThUS$ ThUS$ Chile 16,087 10,059 Foreign 7,253 — Total 23,340 10,059 |
schedule of movements in deferred tax assets and liabilities | Movements in deferred tax assets and liabilities as of December 31, 2023 and 2022 are detailed as follows: Assets (liabilities) Movements in deferred tax assets and liabilities As of As of ThUS$ ThUS$ Deferred tax assets and liabilities, net opening balance 314,646 (110,416) Increase (decrease) in deferred taxes in income (346,391) 430,978 Increase (decrease) deferred taxes in equity (60,707) (5,916) Total (92,452) 314,646 |
Schedule of current and deferred tax (expenses) | Current and deferred tax (expenses) benefits are detailed as follows: (Expense) Income Disclosures on income tax (expense) benefit As of As of As of ThUS$ ThUS$ ThUS$ Current income tax (expense) benefit Current tax expense (1) (1,533,809) (2,002,564) (279,105) Adjustments to prior year current income tax (expense) benefit 3,449 (626) 2,326 Current income tax expense, net, total (1,530,360) (2,003,190) (276,779) Deferred tax (expense) benefit Deferred tax benefits relating to the creation and reversal of temporary differences (342,363) 427,680 28,445 Tax adjustments related to the creation and reversal of temporary differences from the previous year (4,028) 3,298 (682) Total deferred tax benefits, net (346,391) 430,978 27,763 Income tax expense (1,876,751) (1,572,212) (249,016) (1) Includes a tax expense adjustment amounting US$1,089.5 million for the year ended December 31, 2023 relating to the specific mining tax to lithium mining claims (see note 20.3). Income tax (expenses) benefit for foreign and domestic parties are detailed as follows: (Expense) Income Income tax (expense) benefit As of As of As of ThUS$ ThUS$ ThUS$ Current income tax benefit (expense) by foreign and domestic parties, net Current income tax (expenses), foreign parties, net (120,893) (213,060) (46,748) Current income tax (expenses), domestic, net (1) (1,409,467) (1,790,130) (230,031) Current income tax expense, net, total (1,530,360) (2,003,190) (276,779) Deferred tax benefit (expense) by foreign and domestic parties, net Current income tax (expense) benefit, foreign parties, net (34,014) (21,338) (6,679) Current income tax (expense) benefits, domestic, net (312,377) 452,316 34,442 Deferred tax expense, net, total (346,391) 430,978 27,763 Income tax expense (1,876,751) (1,572,212) (249,016) (1) Includes a tax expense adjustment amounting US$1,089.5 million for the year ended December 31, 2023 relating to the specific mining tax to lithium mining claims (see note 20.3). |
Schedule of tax effects of other comprehensive income components | Disclosures on the tax effects of other comprehensive income components: As of December 31, 2023 Income tax related to other income and expense components with a charge or credit to net equity Amount before taxes (Expense) income for Amount after taxes ThUS$ ThUS$ ThUS$ (Losses) income from defined benefit plans (5,843) 1,582 (4,261) Cash flow hedges 18,692 (5,047) 13,645 Reserve for (losses) income from financial assets measured at fair value through other comprehensive income 190,509 (57,242) 133,267 Total 203,358 (60,707) 142,651 As of December 31, 2022 Income tax related to other income and expense components with a charge or credit to net equity Amount before taxes (Expense) income for Amount after taxes ThUS$ ThUS$ ThUS$ (Losses) income from defined benefit plans (6,350) 1,273 (5,077) Cash flow hedges 26,622 (7,172) 19,450 Reserve for (losses) income from financial assets measured at fair value through other comprehensive income 190 (17) 173 Total 20,462 (5,916) 14,546 As of December 31, 2021 Income tax related to other income and expense components with a charge or credit to net equity Amount before taxes (Expense) income for Amount after taxes ThUS$ ThUS$ ThUS$ Income (losses) from defined benefit plans 4,679 (142) 4,537 Cash flow hedges (52,762) 14,246 (38,516) Reserve for income (losses) from financial assets measured at fair value through other comprehensive income (12,072) 3,818 (8,254) Total (60,155) 17,922 (42,233) |
Schedule of tax benefit (expense) | Reconciliation between the tax expense and the tax calculated by multiplying income before taxes by the Chilean corporate income tax rate. (Expense) Benefit Income Tax (Expense) Benefit As of As of As of ThUS$ ThUS$ ThUS$ Consolidated income before taxes 2,807,018 5,486,496 841,221 Statutory income tax rate in Chile 27 % 27 % 27 % Tax expense using the statutory tax rate (757,895) (1,481,354) (227,130) Net effect of royalty tax payments (6,889) (57,500) (13,350) Specific mining tax to lithium mining claims (see note 20.3) (1,089,476) — — Tax effect of income from regular activities exempt from taxation and dividends from abroad (1,457) 3,490 (260) Tax rate effect of non-tax-deductible expenses for determining taxable profit (loss) 3,509 (11,058) (2,226) Effect due to the difference in tax rates related to abroad subsidiaries (24,748) (25,053) (5,622) Other tax effects of reconciliation of accounting income to tax expense 205 (737) (428) Tax expense using the effective tax rate (1,876,751) (1,572,212) (249,016) |
Identification and activities_3
Identification and activities of the Company and Subsidiaries - Employees (Details) - employee | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure Of Information About Employees Explanatory [Line Items] | ||
Number of employees | 7,682 | 6,997 |
In Chile | ||
Disclosure Of Information About Employees Explanatory [Line Items] | ||
Number of employees | 7,034 | 6,533 |
Outside Chile | ||
Disclosure Of Information About Employees Explanatory [Line Items] | ||
Number of employees | 648 | 464 |
Executives | ||
Disclosure Of Information About Employees Explanatory [Line Items] | ||
Number of employees | 170 | 160 |
Professionals | ||
Disclosure Of Information About Employees Explanatory [Line Items] | ||
Number of employees | 2,853 | 2,683 |
Technicians and operators | ||
Disclosure Of Information About Employees Explanatory [Line Items] | ||
Number of employees | 4,659 | 4,154 |
SQM S.A. | ||
Disclosure Of Information About Employees Explanatory [Line Items] | ||
Number of employees | 587 | 518 |
SQM S.A. | In Chile | ||
Disclosure Of Information About Employees Explanatory [Line Items] | ||
Number of employees | 587 | 518 |
SQM S.A. | Outside Chile | ||
Disclosure Of Information About Employees Explanatory [Line Items] | ||
Number of employees | 0 | 0 |
SQM S.A. | Executives | ||
Disclosure Of Information About Employees Explanatory [Line Items] | ||
Number of employees | 33 | 32 |
SQM S.A. | Professionals | ||
Disclosure Of Information About Employees Explanatory [Line Items] | ||
Number of employees | 190 | 177 |
SQM S.A. | Technicians and operators | ||
Disclosure Of Information About Employees Explanatory [Line Items] | ||
Number of employees | 364 | 309 |
Other subsidiaries | ||
Disclosure Of Information About Employees Explanatory [Line Items] | ||
Number of employees | 7,095 | 6,479 |
Other subsidiaries | In Chile | ||
Disclosure Of Information About Employees Explanatory [Line Items] | ||
Number of employees | 6,447 | 6,015 |
Other subsidiaries | Outside Chile | ||
Disclosure Of Information About Employees Explanatory [Line Items] | ||
Number of employees | 648 | 464 |
Other subsidiaries | Executives | ||
Disclosure Of Information About Employees Explanatory [Line Items] | ||
Number of employees | 137 | 128 |
Other subsidiaries | Professionals | ||
Disclosure Of Information About Employees Explanatory [Line Items] | ||
Number of employees | 2,663 | 2,506 |
Other subsidiaries | Technicians and operators | ||
Disclosure Of Information About Employees Explanatory [Line Items] | ||
Number of employees | 4,295 | 3,845 |
Identification and activities_4
Identification and activities of the Company and Subsidiaries - Narrative (Details) - shareholder | Dec. 31, 2023 | Dec. 31, 2022 |
Identification And Activities Of The Company And Subsidiaries | ||
Number of shareholders | 1,172 | |
Percentage of shareholder outstanding shares interest in excess | 5% | 5% |
Identification and activities_5
Identification and activities of the Company and Subsidiaries - Main Shareholders of the Company (Details) - shares | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Inversiones TLC SpA | ||
Identification and Activities of the Company and Subsidiaries [Line Items] | ||
Number of shares outstanding, ownership percentage | 21.90% | |
The Bank Of New York Mellon, ADRs | ||
Identification and Activities of the Company and Subsidiaries [Line Items] | ||
Number of shares outstanding, ownership percentage | 16.17% | 22.60% |
Sociedad De Inversiones Pampa Calichera S.A. | ||
Identification and Activities of the Company and Subsidiaries [Line Items] | ||
Number of shares outstanding, ownership percentage | 15.49% | 15.66% |
Potasios De Chile S.A. | ||
Identification and Activities of the Company and Subsidiaries [Line Items] | ||
Number of shares outstanding, ownership percentage | 6.36% | 6.36% |
Banco De Chile On Behalf Of State Street | ||
Identification and Activities of the Company and Subsidiaries [Line Items] | ||
Number of shares outstanding, ownership percentage | 4.11% | |
AFP Habitat S.A. | ||
Identification and Activities of the Company and Subsidiaries [Line Items] | ||
Number of shares outstanding, ownership percentage | 3.71% | 3.33% |
Global Mining Spa | ||
Identification and Activities of the Company and Subsidiaries [Line Items] | ||
Number of shares outstanding, ownership percentage | 3.08% | |
Banco Santander On Behalf Of Foreign Investors | ||
Identification and Activities of the Company and Subsidiaries [Line Items] | ||
Number of shares outstanding, ownership percentage | 2.98% | |
AFP Provida S.A. | ||
Identification and Activities of the Company and Subsidiaries [Line Items] | ||
Number of shares outstanding, ownership percentage | 2.91% | 1.84% |
AFP Cuprum S.A. | ||
Identification and Activities of the Company and Subsidiaries [Line Items] | ||
Number of shares outstanding, ownership percentage | 2.79% | 2.29% |
AFP Capital S.A. | ||
Identification and Activities of the Company and Subsidiaries [Line Items] | ||
Number of shares outstanding, ownership percentage | 2.63% | 1.98% |
Banco De Chile On Behalf Of Citi NA New York | ||
Identification and Activities of the Company and Subsidiaries [Line Items] | ||
Number of shares outstanding, ownership percentage | 2.24% | |
Inversiones TLC Spa | ||
Identification and Activities of the Company and Subsidiaries [Line Items] | ||
Number of shares outstanding, ownership percentage | 21.90% | |
Banco de Chile via State Street | ||
Identification and Activities of the Company and Subsidiaries [Line Items] | ||
Number of shares outstanding, ownership percentage | 3.87% | |
Inv. Global Mining Chile Ltda. | ||
Identification and Activities of the Company and Subsidiaries [Line Items] | ||
Number of shares outstanding, ownership percentage | 3.08% | |
Banco Santander Via Foreign Investor Accounts | ||
Identification and Activities of the Company and Subsidiaries [Line Items] | ||
Number of shares outstanding, ownership percentage | 3.06% | |
Banco de Chile non-resident third party accounts | ||
Identification and Activities of the Company and Subsidiaries [Line Items] | ||
Number of shares outstanding, ownership percentage | 2.19% | |
Inversiones TLC SpA | ||
Identification and Activities of the Company and Subsidiaries [Line Items] | ||
Percentage of voting equity held by the Company or its subsidiaries | 21.90% | 21.90% |
Series A | Inversiones TLC SpA | ||
Identification and Activities of the Company and Subsidiaries [Line Items] | ||
Number of outstanding shares (in shares) | 62,556,568 | |
Number of shares outstanding, ownership percentage | 43.80% | |
Series A | The Bank Of New York Mellon, ADRs | ||
Identification and Activities of the Company and Subsidiaries [Line Items] | ||
Number of outstanding shares (in shares) | 0 | 0 |
Number of shares outstanding, ownership percentage | 0% | 0% |
Series A | Sociedad De Inversiones Pampa Calichera S.A. | ||
Identification and Activities of the Company and Subsidiaries [Line Items] | ||
Number of outstanding shares (in shares) | 42,640,389 | 43,133,789 |
Number of shares outstanding, ownership percentage | 29.86% | 30.20% |
Number of shares owned by the company or its subsidiaries or associates (in shares) | 2,348,842 | 2,348,842 |
Series A | Potasios De Chile S.A. | ||
Identification and Activities of the Company and Subsidiaries [Line Items] | ||
Number of outstanding shares (in shares) | 18,179,147 | 18,179,147 |
Number of shares outstanding, ownership percentage | 12.73% | 12.73% |
Series A | Banco De Chile On Behalf Of State Street | ||
Identification and Activities of the Company and Subsidiaries [Line Items] | ||
Number of outstanding shares (in shares) | 0 | |
Number of shares outstanding, ownership percentage | 0% | |
Series A | AFP Habitat S.A. | ||
Identification and Activities of the Company and Subsidiaries [Line Items] | ||
Number of outstanding shares (in shares) | 603,789 | 0 |
Number of shares outstanding, ownership percentage | 0.42% | 0% |
Series A | Global Mining Spa | ||
Identification and Activities of the Company and Subsidiaries [Line Items] | ||
Number of outstanding shares (in shares) | 8,798,539 | |
Number of shares outstanding, ownership percentage | 6.16% | |
Series A | Banco Santander On Behalf Of Foreign Investors | ||
Identification and Activities of the Company and Subsidiaries [Line Items] | ||
Number of outstanding shares (in shares) | 0 | |
Number of shares outstanding, ownership percentage | 0% | |
Series A | AFP Provida S.A. | ||
Identification and Activities of the Company and Subsidiaries [Line Items] | ||
Number of outstanding shares (in shares) | 0 | 0 |
Number of shares outstanding, ownership percentage | 0% | 0% |
Series A | AFP Cuprum S.A. | ||
Identification and Activities of the Company and Subsidiaries [Line Items] | ||
Number of outstanding shares (in shares) | 0 | 0 |
Number of shares outstanding, ownership percentage | 0% | 0% |
Series A | AFP Capital S.A. | ||
Identification and Activities of the Company and Subsidiaries [Line Items] | ||
Number of outstanding shares (in shares) | 0 | 0 |
Number of shares outstanding, ownership percentage | 0% | 0% |
Series A | Banco De Chile On Behalf Of Citi NA New York | ||
Identification and Activities of the Company and Subsidiaries [Line Items] | ||
Number of outstanding shares (in shares) | 67,463 | |
Number of shares outstanding, ownership percentage | 0.05% | |
Series A | Inversiones TLC Spa | ||
Identification and Activities of the Company and Subsidiaries [Line Items] | ||
Number of outstanding shares (in shares) | 62,556,568 | |
Number of shares outstanding, ownership percentage | 43.80% | |
Series A | Banco de Chile via State Street | ||
Identification and Activities of the Company and Subsidiaries [Line Items] | ||
Number of outstanding shares (in shares) | 79,265 | |
Number of shares outstanding, ownership percentage | 0.06% | |
Series A | Inv. Global Mining Chile Ltda. | ||
Identification and Activities of the Company and Subsidiaries [Line Items] | ||
Number of outstanding shares (in shares) | 8,798,539 | |
Number of shares outstanding, ownership percentage | 6.16% | |
Series A | Banco Santander Via Foreign Investor Accounts | ||
Identification and Activities of the Company and Subsidiaries [Line Items] | ||
Number of outstanding shares (in shares) | 545,729 | |
Number of shares outstanding, ownership percentage | 0.38% | |
Series A | Banco de Chile non-resident third party accounts | ||
Identification and Activities of the Company and Subsidiaries [Line Items] | ||
Number of outstanding shares (in shares) | 62,829 | |
Number of shares outstanding, ownership percentage | 0.04% | |
Series A | Inversiones TLC SpA | ||
Identification and Activities of the Company and Subsidiaries [Line Items] | ||
Number of shares owned by the company or its subsidiaries or associates (in shares) | 62,556,568 | 62,556,568 |
Series B | Inversiones TLC SpA | ||
Identification and Activities of the Company and Subsidiaries [Line Items] | ||
Number of outstanding shares (in shares) | 0 | |
Number of shares outstanding, ownership percentage | 0% | |
Series B | The Bank Of New York Mellon, ADRs | ||
Identification and Activities of the Company and Subsidiaries [Line Items] | ||
Number of outstanding shares (in shares) | 46,174,681 | 64,555,045 |
Number of shares outstanding, ownership percentage | 32.33% | 45.20% |
Series B | Sociedad De Inversiones Pampa Calichera S.A. | ||
Identification and Activities of the Company and Subsidiaries [Line Items] | ||
Number of outstanding shares (in shares) | 1,611,227 | 1,611,227 |
Number of shares outstanding, ownership percentage | 1.13% | 1.13% |
Series B | Potasios De Chile S.A. | ||
Identification and Activities of the Company and Subsidiaries [Line Items] | ||
Number of outstanding shares (in shares) | 0 | 0 |
Number of shares outstanding, ownership percentage | 0% | 0% |
Series B | Banco De Chile On Behalf Of State Street | ||
Identification and Activities of the Company and Subsidiaries [Line Items] | ||
Number of outstanding shares (in shares) | 11,744,230 | |
Number of shares outstanding, ownership percentage | 8.22% | |
Series B | AFP Habitat S.A. | ||
Identification and Activities of the Company and Subsidiaries [Line Items] | ||
Number of outstanding shares (in shares) | 9,991,619 | 9,504,885 |
Number of shares outstanding, ownership percentage | 7% | 6.66% |
Series B | Global Mining Spa | ||
Identification and Activities of the Company and Subsidiaries [Line Items] | ||
Number of outstanding shares (in shares) | 0 | |
Number of shares outstanding, ownership percentage | 0% | |
Series B | Banco Santander On Behalf Of Foreign Investors | ||
Identification and Activities of the Company and Subsidiaries [Line Items] | ||
Number of outstanding shares (in shares) | 8,499,930 | |
Number of shares outstanding, ownership percentage | 5.95% | |
Series B | AFP Provida S.A. | ||
Identification and Activities of the Company and Subsidiaries [Line Items] | ||
Number of outstanding shares (in shares) | 8,299,626 | 5,263,361 |
Number of shares outstanding, ownership percentage | 5.81% | 3.69% |
Series B | AFP Cuprum S.A. | ||
Identification and Activities of the Company and Subsidiaries [Line Items] | ||
Number of outstanding shares (in shares) | 7,979,983 | 6,535,039 |
Number of shares outstanding, ownership percentage | 5.59% | 4.58% |
Series B | AFP Capital S.A. | ||
Identification and Activities of the Company and Subsidiaries [Line Items] | ||
Number of outstanding shares (in shares) | 7,525,912 | 5,652,982 |
Number of shares outstanding, ownership percentage | 5.27% | 3.96% |
Series B | Banco De Chile On Behalf Of Citi NA New York | ||
Identification and Activities of the Company and Subsidiaries [Line Items] | ||
Number of outstanding shares (in shares) | 6,399,986 | |
Number of shares outstanding, ownership percentage | 4.44% | |
Series B | Inversiones TLC Spa | ||
Identification and Activities of the Company and Subsidiaries [Line Items] | ||
Number of outstanding shares (in shares) | 0 | |
Number of shares outstanding, ownership percentage | 0% | |
Series B | Banco de Chile via State Street | ||
Identification and Activities of the Company and Subsidiaries [Line Items] | ||
Number of outstanding shares (in shares) | 10,979,388 | |
Number of shares outstanding, ownership percentage | 7.69% | |
Series B | Inv. Global Mining Chile Ltda. | ||
Identification and Activities of the Company and Subsidiaries [Line Items] | ||
Number of outstanding shares (in shares) | 0 | |
Number of shares outstanding, ownership percentage | 0% | |
Series B | Banco Santander Via Foreign Investor Accounts | ||
Identification and Activities of the Company and Subsidiaries [Line Items] | ||
Number of outstanding shares (in shares) | 8,181,775 | |
Number of shares outstanding, ownership percentage | 5.73% | |
Series B | Banco de Chile non-resident third party accounts | ||
Identification and Activities of the Company and Subsidiaries [Line Items] | ||
Number of outstanding shares (in shares) | 6,181,476 | |
Number of shares outstanding, ownership percentage | 4.33% | |
Series B | Inversiones TLC SpA | ||
Identification and Activities of the Company and Subsidiaries [Line Items] | ||
Number of shares owned by the company or its subsidiaries or associates (in shares) | 748,490 | 748,490 |
Series A and B stock | Sociedad De Inversiones Pampa Calichera S.A. | ||
Identification and Activities of the Company and Subsidiaries [Line Items] | ||
Number of shares owned by the company or its subsidiaries or associates (in shares) | 46,600,458 | 46,600,458 |
Series A and B stock | Inversiones TLC SpA | ||
Identification and Activities of the Company and Subsidiaries [Line Items] | ||
Percentage of voting equity held by the Company or its subsidiaries | 22.16% |
Basis of presentation for the_3
Basis of presentation for the consolidated financial statements - Subsidiaries (Details) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2023 | |
SQM Nitratos S.A. | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | |
SQM Nitratos S.A. | Direct | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 99.9999% | |
SQM Nitratos S.A. | Indirect | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 0.0001% | |
SQM Potasio S.A. | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | |
SQM Potasio S.A. | Direct | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 99.9999% | |
SQM Potasio S.A. | Indirect | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 0.0001% | |
Serv. Integrales De Tránsito Y Transf. S.A. | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | |
Serv. Integrales De Tránsito Y Transf. S.A. | Direct | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 0.0003% | |
Serv. Integrales De Tránsito Y Transf. S.A. | Indirect | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 99.9997% | |
Isapre Norte Grande Ltda. | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | |
Isapre Norte Grande Ltda. | Direct | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 1% | |
Isapre Norte Grande Ltda. | Indirect | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 99% | |
Ajay SQM Chile S.A. | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 51% | |
Ajay SQM Chile S.A. | Direct | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 51% | |
Ajay SQM Chile S.A. | Indirect | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 0% | |
Almacenes y Depósitos Ltda. | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | |
Almacenes y Depósitos Ltda. | Direct | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 1% | |
Almacenes y Depósitos Ltda. | Indirect | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 99% | |
SQM Salar S.A. | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | |
SQM Salar S.A. | Direct | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 18.18% | |
SQM Salar S.A. | Indirect | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 81.82% | |
SQM Industrial S.A. | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | |
SQM Industrial S.A. | Direct | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 99.047% | |
SQM Industrial S.A. | Indirect | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 0.953% | |
Exploraciones Mineras S.A. | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | |
Exploraciones Mineras S.A. | Direct | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 0.2691% | |
Exploraciones Mineras S.A. | Indirect | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 99.7309% | |
Sociedad Prestadora De Servicios De Salud Cruz Del Norte S.A. | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | |
Sociedad Prestadora De Servicios De Salud Cruz Del Norte S.A. | Direct | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 0% | |
Sociedad Prestadora De Servicios De Salud Cruz Del Norte S.A. | Indirect | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | |
Soquimich Comercial S.A. | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 60.6383% | |
Soquimich Comercial S.A. | Direct | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 0% | |
Soquimich Comercial S.A. | Indirect | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 60.6383% | |
Comercial Agrorama Ltda. | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 60.6383% | |
Comercial Agrorama Ltda. | Direct | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 0% | |
Comercial Agrorama Ltda. | Indirect | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 60.6383% | |
Comercial Hydro S.A. | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | |
Comercial Hydro S.A. | Direct | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 0% | |
Comercial Hydro S.A. | Indirect | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | |
Agrorama S.A. | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 60.6383% | |
Agrorama S.A. | Direct | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 0% | |
Agrorama S.A. | Indirect | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 60.6383% | |
Orcoma Estudios SPA | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | |
Orcoma Estudios SPA | Direct | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | |
Orcoma Estudios SPA | Indirect | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 0% | |
Orcoma SPA | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | |
Orcoma SPA | Direct | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | |
Orcoma SPA | Indirect | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 0% | |
SQM MaG SpA | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | |
SQM MaG SpA | Direct | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 0% | |
SQM MaG SpA | Indirect | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | |
Sociedad Contractual Minera Búfalo | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | |
Sociedad Contractual Minera Búfalo | Direct | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 99.90% | |
Sociedad Contractual Minera Búfalo | Indirect | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 0.10% | |
SQM North América Corp. | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | |
SQM North América Corp. | Direct | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 40% | |
SQM North América Corp. | Indirect | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 60% | |
RS Agro Chemical Trading Corporation A.V.V. | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | |
RS Agro Chemical Trading Corporation A.V.V. | Direct | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 98.3333% | |
RS Agro Chemical Trading Corporation A.V.V. | Indirect | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 1.6667% | |
Nitratos Naturais do Chile Ltda. | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | |
Nitratos Naturais do Chile Ltda. | Direct | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 0% | |
Nitratos Naturais do Chile Ltda. | Indirect | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | |
SQM Corporation N.V. | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | |
SQM Corporation N.V. | Direct | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 0.0002% | |
SQM Corporation N.V. | Indirect | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 99.9998% | |
SQM Ecuador S.A. | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | |
SQM Ecuador S.A. | Direct | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 0.00401% | |
SQM Ecuador S.A. | Indirect | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 99.996% | |
SQM Brasil Ltda. | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | |
SQM Brasil Ltda. | Direct | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 0.53% | |
SQM Brasil Ltda. | Indirect | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 99.47% | |
SQMC Holding Corporation. | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | |
SQMC Holding Corporation. | Direct | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 0.10% | |
SQMC Holding Corporation. | Indirect | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 99.90% | |
SQM Japan Co. Ltd. | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | |
SQM Japan Co. Ltd. | Direct | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 0.1597% | |
SQM Japan Co. Ltd. | Indirect | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 99.8403% | |
SQM Europe NV | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | |
SQM Europe NV | Direct | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 0.58% | |
SQM Europe NV | Indirect | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 99.42% | |
SQM International N.V. | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 0% | |
SQM International N.V. | Direct | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 0% | |
SQM International N.V. | Indirect | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | 0% |
SQM Indonesia S.A. | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 80% | |
SQM Indonesia S.A. | Direct | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 0% | |
SQM Indonesia S.A. | Indirect | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 80% | |
North American Trading Company | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 0% | |
North American Trading Company | Direct | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 0% | |
North American Trading Company | Indirect | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 0% | |
SQM Virginia LLC | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 0% | |
SQM Virginia LLC | Direct | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 0% | |
SQM Virginia LLC | Indirect | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | 0% |
SQM Comercial de México S.A. de C.V. | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | |
SQM Comercial de México S.A. de C.V. | Direct | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 0.01% | |
SQM Comercial de México S.A. de C.V. | Indirect | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 99.99% | |
SQM Investment Corporation N.V. | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | |
SQM Investment Corporation N.V. | Direct | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 1% | |
SQM Investment Corporation N.V. | Indirect | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 99% | |
Royal Seed Trading Corporation A.V.V. | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | |
Royal Seed Trading Corporation A.V.V. | Direct | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 1.67% | |
Royal Seed Trading Corporation A.V.V. | Indirect | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 98.33% | |
SQM Lithium Specialties Limited Partnership | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 0% | |
SQM Lithium Specialties Limited Partnership | Direct | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 0% | |
SQM Lithium Specialties Limited Partnership | Indirect | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 0% | |
Comercial Caimán Internacional S.A. | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 0% | |
Comercial Caimán Internacional S.A. | Direct | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 0% | |
Comercial Caimán Internacional S.A. | Indirect | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | 0% |
SQM France S.A. | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | |
SQM France S.A. | Direct | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 0% | |
SQM France S.A. | Indirect | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | |
Administración y Servicios Santiago S.A. de C.V. | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | |
Administración y Servicios Santiago S.A. de C.V. | Direct | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 0% | |
Administración y Servicios Santiago S.A. de C.V. | Indirect | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | |
SQM Nitratos México S.A. de C.V. | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | |
SQM Nitratos México S.A. de C.V. | Direct | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 0% | |
SQM Nitratos México S.A. de C.V. | Indirect | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | |
Soquimich European holding B.V. | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | |
Soquimich European holding B.V. | Direct | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 0% | |
Soquimich European holding B.V. | Indirect | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | |
SQM Iberian S.A. | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | |
SQM Iberian S.A. | Direct | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 0% | |
SQM Iberian S.A. | Indirect | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | |
SQM África Pty Ltd. | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | |
SQM África Pty Ltd. | Direct | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 0% | |
SQM África Pty Ltd. | Indirect | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | |
SQM Oceanía Pty Ltd. | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | |
SQM Oceanía Pty Ltd. | Direct | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 0% | |
SQM Oceanía Pty Ltd. | Indirect | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | |
SQM Beijing Commercial Co. Ltd. | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | |
SQM Beijing Commercial Co. Ltd. | Direct | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 0% | |
SQM Beijing Commercial Co. Ltd. | Indirect | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | |
SQM Thailand Limited | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 99.998% | |
SQM Thailand Limited | Direct | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 0% | |
SQM Thailand Limited | Indirect | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 99.998% | |
SQM Colombia SAS | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | |
SQM Colombia SAS | Direct | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 0% | |
SQM Colombia SAS | Indirect | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | |
SQM Australia Pty | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | |
SQM Australia Pty | Direct | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 0% | |
SQM Australia Pty | Indirect | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | |
SQM (Shanghai) Chemicals Co. Ltd. | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | |
SQM (Shanghai) Chemicals Co. Ltd. | Direct | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 0% | |
SQM (Shanghai) Chemicals Co. Ltd. | Indirect | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | |
SQM Korea LLC | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | |
SQM Korea LLC | Direct | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 0% | |
SQM Korea LLC | Indirect | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | |
SQM Holland B.V. | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | |
SQM Holland B.V. | Direct | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 0% | |
SQM Holland B.V. | Indirect | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | |
Soquimich Comercial Brasil Ltda. | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% | |
Soquimich Comercial Brasil Ltda. | Direct | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 0% | |
Soquimich Comercial Brasil Ltda. | Indirect | ||
Disclosure Of Detailed Information About Subsidiaries [Line Items] | ||
Ownership Interest, percentage | 100% |
Significant accounting polici_4
Significant accounting policies - Schedule of Exchange Rates (Details) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Brazilian real | ||
Significant Accounting Policies [Line Items] | ||
Closing foreign exchange rate, percentage | 4.85 | 5.28 |
Average foreign exchange rate, percentage | 4.90 | 5.25 |
New Peruvian sol | ||
Significant Accounting Policies [Line Items] | ||
Closing foreign exchange rate, percentage | 3.70 | 3.81 |
Average foreign exchange rate, percentage | 3.73 | 3.83 |
Japanese yen | ||
Significant Accounting Policies [Line Items] | ||
Closing foreign exchange rate, percentage | 140.90 | 131.32 |
Average foreign exchange rate, percentage | 143.94 | 134.70 |
Euro | ||
Significant Accounting Policies [Line Items] | ||
Closing foreign exchange rate, percentage | 0.90 | 0.93 |
Average foreign exchange rate, percentage | 0.92 | 0.94 |
Mexican peso | ||
Significant Accounting Policies [Line Items] | ||
Closing foreign exchange rate, percentage | 16.92 | 19.50 |
Average foreign exchange rate, percentage | 17.18 | 19.60 |
Australian dollar | ||
Significant Accounting Policies [Line Items] | ||
Closing foreign exchange rate, percentage | 1.46 | 1.47 |
Average foreign exchange rate, percentage | 1.49 | 1.48 |
Pound Sterling | ||
Significant Accounting Policies [Line Items] | ||
Closing foreign exchange rate, percentage | 0.78 | 0.83 |
Average foreign exchange rate, percentage | 0.79 | 0.82 |
South African rand | ||
Significant Accounting Policies [Line Items] | ||
Closing foreign exchange rate, percentage | 18.27 | 17.01 |
Average foreign exchange rate, percentage | 18.61 | 17.28 |
Chilean peso | ||
Significant Accounting Policies [Line Items] | ||
Closing foreign exchange rate, percentage | 877.12 | 855.86 |
Average foreign exchange rate, percentage | 875.06 | 873.81 |
Chinese yuan | ||
Significant Accounting Policies [Line Items] | ||
Closing foreign exchange rate, percentage | 7.12 | 6.92 |
Average foreign exchange rate, percentage | 7.15 | 6.98 |
Indian rupee | ||
Significant Accounting Policies [Line Items] | ||
Closing foreign exchange rate, percentage | 83.21 | 82.73 |
Average foreign exchange rate, percentage | 83.26 | 82.52 |
Thai Baht | ||
Significant Accounting Policies [Line Items] | ||
Closing foreign exchange rate, percentage | 34.36 | 34.64 |
Average foreign exchange rate, percentage | 34.95 | 34.76 |
Turkish lira | ||
Significant Accounting Policies [Line Items] | ||
Closing foreign exchange rate, percentage | 29.52 | 18.71 |
Average foreign exchange rate, percentage | 29.09 | 18.66 |
Korean Won | ||
Significant Accounting Policies [Line Items] | ||
Closing foreign exchange rate, percentage | 1,290.7 | 1,259.98 |
Average foreign exchange rate, percentage | 1,304.17 | 1,291.64 |
Indonesian Rupiah | ||
Significant Accounting Policies [Line Items] | ||
Closing foreign exchange rate, percentage | 15,399 | 15,570 |
Average foreign exchange rate, percentage | 15,502.63 | 15,596.9 |
United Arab Emirates dirham | ||
Significant Accounting Policies [Line Items] | ||
Closing foreign exchange rate, percentage | 3.67 | 3.67 |
Average foreign exchange rate, percentage | 3.67 | 3.67 |
Polish Zloty | ||
Significant Accounting Policies [Line Items] | ||
Closing foreign exchange rate, percentage | 3.93 | 4.37 |
Average foreign exchange rate, percentage | 3.97 | 4.42 |
UF | ||
Significant Accounting Policies [Line Items] | ||
Closing foreign exchange rate, percentage | 41.94 | 41.02 |
Average foreign exchange rate, percentage | 42.04 | 40.18 |
Significant accounting polici_5
Significant accounting policies - Schedule of Other (Outflows) Inflows of Cash from Operating Activities (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | ||
Cash flows from (used in) operating activities [abstract] | ||||
Banking expenses | $ (15,603) | $ (3,783) | $ (1,921) | |
Tax credits | (3,353) | (3,474) | (2,403) | |
Government grants | 24,387 | 0 | 0 | |
Value added tax | (298,076) | 120,283 | 80,503 | |
Cost of bond issuance | (18,346) | (2,566) | (16,570) | |
Other inflows (outflows) of cash, classified as operating activities | [1] | $ (310,991) | $ 110,460 | $ 59,609 |
[1] Other (outflows) inflows of cash from operating activities include net increases (decreases) of value added tax and banking expenses, taxes associated with interest payments, costs of issuance of debt and government grants. |
Significant accounting polici_6
Significant accounting policies - Useful Lives of Property, Plant and Equipment (Details) | 12 Months Ended |
Dec. 31, 2023 | |
Minimum | Mining assets | |
Significant Accounting Policies [Line Items] | |
Useful life (in years) | 5 years |
Minimum | Energy generating assets | |
Significant Accounting Policies [Line Items] | |
Useful life (in years) | 5 years |
Minimum | Buildings | |
Significant Accounting Policies [Line Items] | |
Useful life (in years) | 4 years |
Minimum | Supplies and accessories | |
Significant Accounting Policies [Line Items] | |
Useful life (in years) | 4 years |
Minimum | Office equipment | |
Significant Accounting Policies [Line Items] | |
Useful life (in years) | 5 years |
Minimum | Transport equipment | |
Significant Accounting Policies [Line Items] | |
Useful life (in years) | 6 years |
Minimum | Network and communication equipment | |
Significant Accounting Policies [Line Items] | |
Useful life (in years) | 4 years |
Minimum | IT equipment | |
Significant Accounting Policies [Line Items] | |
Useful life (in years) | 4 years |
Minimum | Machinery, plant and equipment | |
Significant Accounting Policies [Line Items] | |
Useful life (in years) | 3 years |
Minimum | Other fixed assets | |
Significant Accounting Policies [Line Items] | |
Useful life (in years) | 3 years |
Top of range | Mining assets | |
Significant Accounting Policies [Line Items] | |
Useful life (in years) | 10 years |
Top of range | Energy generating assets | |
Significant Accounting Policies [Line Items] | |
Useful life (in years) | 16 years |
Top of range | Buildings | |
Significant Accounting Policies [Line Items] | |
Useful life (in years) | 25 years |
Top of range | Supplies and accessories | |
Significant Accounting Policies [Line Items] | |
Useful life (in years) | 15 years |
Top of range | Office equipment | |
Significant Accounting Policies [Line Items] | |
Useful life (in years) | 10 years |
Top of range | Transport equipment | |
Significant Accounting Policies [Line Items] | |
Useful life (in years) | 20 years |
Top of range | Network and communication equipment | |
Significant Accounting Policies [Line Items] | |
Useful life (in years) | 12 years |
Top of range | IT equipment | |
Significant Accounting Policies [Line Items] | |
Useful life (in years) | 11 years |
Top of range | Machinery, plant and equipment | |
Significant Accounting Policies [Line Items] | |
Useful life (in years) | 24 years |
Top of range | Other fixed assets | |
Significant Accounting Policies [Line Items] | |
Useful life (in years) | 20 years |
Average | Mining assets | |
Significant Accounting Policies [Line Items] | |
Useful life (in years) | 8 years |
Average | Energy generating assets | |
Significant Accounting Policies [Line Items] | |
Useful life (in years) | 8 years |
Average | Buildings | |
Significant Accounting Policies [Line Items] | |
Useful life (in years) | 13 years |
Average | Supplies and accessories | |
Significant Accounting Policies [Line Items] | |
Useful life (in years) | 8 years |
Average | Office equipment | |
Significant Accounting Policies [Line Items] | |
Useful life (in years) | 6 years |
Average | Transport equipment | |
Significant Accounting Policies [Line Items] | |
Useful life (in years) | 9 years |
Average | Network and communication equipment | |
Significant Accounting Policies [Line Items] | |
Useful life (in years) | 7 years |
Average | IT equipment | |
Significant Accounting Policies [Line Items] | |
Useful life (in years) | 7 years |
Average | Machinery, plant and equipment | |
Significant Accounting Policies [Line Items] | |
Useful life (in years) | 11 years |
Average | Other fixed assets | |
Significant Accounting Policies [Line Items] | |
Useful life (in years) | 9 years |
Significant accounting polici_7
Significant accounting policies - Useful Lives of of Intangible Assets (Details) | 12 Months Ended |
Dec. 31, 2023 | |
Water rights | Minimum | |
Significant Accounting Policies [Line Items] | |
Useful life, intangible assets other than goodwill (in years) | 2 years |
Corfo Mining properties | Minimum | |
Significant Accounting Policies [Line Items] | |
Useful life, intangible assets other than goodwill (in years) | 7 years |
Corfo Mining properties | Top of range | |
Significant Accounting Policies [Line Items] | |
Useful life, intangible assets other than goodwill (in years) | 7 years |
Intellectual property | Minimum | |
Significant Accounting Policies [Line Items] | |
Useful life, intangible assets other than goodwill (in years) | 9 years |
Intellectual property | Top of range | |
Significant Accounting Policies [Line Items] | |
Useful life, intangible assets other than goodwill (in years) | 9 years |
IT programs | Minimum | |
Significant Accounting Policies [Line Items] | |
Useful life, intangible assets other than goodwill (in years) | 3 years |
IT programs | Top of range | |
Significant Accounting Policies [Line Items] | |
Useful life, intangible assets other than goodwill (in years) | 9 years |
Significant accounting polici_8
Significant accounting policies - Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Significant Accounting Policies [Line Items] | |||
Profit (loss), attributable to owners of parent | $ 923,191 | $ 3,906,311 | $ 585,454 |
Weighted average number of shares, basic (in shares) | 285,638,456 | 285,638,456 | 278,157,812 |
Basic earnings per share (in USD per share) | $ 3.2320 | $ 13.6757 | $ 2.1048 |
Weighted average number of shares, diluted (in shares) | 285,638,456 | 285,638,456 | 278,157,812 |
Diluted earnings per share (in USD per share) | $ 3.2320 | $ 13.6757 | $ 2.1048 |
Series A Common Shares | |||
Significant Accounting Policies [Line Items] | |||
Weighted average number of shares, basic (in shares) | 142,819,552 | 142,819,552 | 142,819,552 |
Weighted average number of shares, diluted (in shares) | 142,819,552 | 142,819,552 | 142,819,552 |
Series B Common Shares | |||
Significant Accounting Policies [Line Items] | |||
Weighted average number of shares, basic (in shares) | 142,818,904 | 142,818,904 | 135,338,260 |
Weighted average number of shares, diluted (in shares) | 142,818,904 | 142,818,904 | 135,338,260 |
Significant accounting polici_9
Significant accounting policies - Minimum Dividend (Details) | 12 Months Ended |
Dec. 31, 2023 | |
Minimum | |
Significant Accounting Policies [Line Items] | |
Cash dividend rate, percentage | 30% |
Financial risk management - Ban
Financial risk management - Bank Promissory Notes (Details) - Bank Notes - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Financial Risk Management [Line Items] | ||
Total financial assets | $ 125,931 | $ 45,269 |
Agricultural Bank of China | ||
Financial Risk Management [Line Items] | ||
Total financial assets | 2,061 | 10,334 |
Bank of Communications | ||
Financial Risk Management [Line Items] | ||
Total financial assets | 8,783 | |
Bank of NingBo | ||
Financial Risk Management [Line Items] | ||
Total financial assets | 1,065 | 3,148 |
China CITIC Bank | ||
Financial Risk Management [Line Items] | ||
Total financial assets | 35,477 | |
China Construction Bank Corporation | ||
Financial Risk Management [Line Items] | ||
Total financial assets | 1,802 | |
China Everbright Bank | ||
Financial Risk Management [Line Items] | ||
Total financial assets | 2,647 | |
China Guangfa Bank | ||
Financial Risk Management [Line Items] | ||
Total financial assets | 1,245 | |
China Merchants | ||
Financial Risk Management [Line Items] | ||
Total financial assets | 8,661 | |
China Minsheng Bank | ||
Financial Risk Management [Line Items] | ||
Total financial assets | 3,097 | |
China Zheshang Bank | ||
Financial Risk Management [Line Items] | ||
Total financial assets | 3,167 | |
HuaXia Bank | ||
Financial Risk Management [Line Items] | ||
Total financial assets | 3,639 | |
Industrial & Commercial Bank of China Limited | ||
Financial Risk Management [Line Items] | ||
Total financial assets | 8,998 | |
Industrial Bank | ||
Financial Risk Management [Line Items] | ||
Total financial assets | 12,177 | |
International Bank of Macau | ||
Financial Risk Management [Line Items] | ||
Total financial assets | 4,122 | |
Shanghai Pudong Development Bank | ||
Financial Risk Management [Line Items] | ||
Total financial assets | 20,549 | |
Others | ||
Financial Risk Management [Line Items] | ||
Total financial assets | $ 8,441 | 1,887 |
Bank of China Limited | ||
Financial Risk Management [Line Items] | ||
Total financial assets | 27,936 | |
Bank of Jiujiang | ||
Financial Risk Management [Line Items] | ||
Total financial assets | $ 1,964 |
Financial risk management - Cre
Financial risk management - Credit Quality of Financial Assets (Details) - Financial assets neither past due nor impaired - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Time deposits | Over 90 days | ||
Financial Risk Management [Line Items] | ||
Total financial assets | $ 950,167 | |
Time deposits | Banco Santander- Santiago | Up to 90 days | ||
Financial Risk Management [Line Items] | ||
Total financial assets | $ 6,318 | 124,689 |
Time deposits | Banco Crédito e Inversiones | Up to 90 days | ||
Financial Risk Management [Line Items] | ||
Total financial assets | 1,001 | 150,578 |
Time deposits | Corpbanca | Up to 90 days | ||
Financial Risk Management [Line Items] | ||
Total financial assets | 5,014 | |
Time deposits | Banco de Chile | Up to 90 days | ||
Financial Risk Management [Line Items] | ||
Total financial assets | 4,460 | 602 |
Time deposits | Scotiabank Sud Americano | Up to 90 days | ||
Financial Risk Management [Line Items] | ||
Total financial assets | 6,752 | |
Time deposits | banco credito | Over 90 days | ||
Financial Risk Management [Line Items] | ||
Total financial assets | 74,459 | 187,707 |
Time deposits | Banco Santander | Over 90 days | ||
Financial Risk Management [Line Items] | ||
Total financial assets | 100,083 | |
Time deposits | Banco Itaú CorpBanca | Up to 90 days | ||
Financial Risk Management [Line Items] | ||
Total financial assets | 284,915 | |
Time deposits | Banco Itaú CorpBanca | Over 90 days | ||
Financial Risk Management [Line Items] | ||
Total financial assets | 372,061 | |
Time deposits | Scotiabank Sud Americano 2 | Over 90 days | ||
Financial Risk Management [Line Items] | ||
Total financial assets | 672,720 | |
Time deposits | Sumitomo Mitsui Banking | Up to 90 days | ||
Financial Risk Management [Line Items] | ||
Total financial assets | 122,631 | |
Time deposits | Sumitomo Mitsui Banking | Over 90 days | ||
Financial Risk Management [Line Items] | ||
Total financial assets | 91,884 | |
Time deposits | Scotiabank Chile | Up to 90 days | ||
Financial Risk Management [Line Items] | ||
Total financial assets | 416,026 | |
Time deposits | Banco Itau CorpBanca 2 | Over 90 days | ||
Financial Risk Management [Line Items] | ||
Total financial assets | 15,048 | |
Time deposits | Banco Santander - Santiago 2 | Over 90 days | ||
Financial Risk Management [Line Items] | ||
Total financial assets | 51,444 | |
Time deposits | Banco Estado | Over 90 days | ||
Financial Risk Management [Line Items] | ||
Total financial assets | 85,055 | |
Time deposits | Scotiabank Chile 2 | Over 90 days | ||
Financial Risk Management [Line Items] | ||
Total financial assets | 250,362 | |
Time deposits | Banco de Chile 2 | Over 90 days | ||
Financial Risk Management [Line Items] | ||
Total financial assets | 150,259 | |
Time deposits | Sumitomo Mitsui Banking 2 | Over 90 days | ||
Financial Risk Management [Line Items] | ||
Total financial assets | 210,292 | |
Investment fund | Banco Crédito e Inversiones | Up to 90 days | ||
Financial Risk Management [Line Items] | ||
Total financial assets | 5,031 | |
Investment fund | JP Morgan US dollar Liquidity Fund Institutional | Up to 90 days | ||
Financial Risk Management [Line Items] | ||
Total financial assets | 22,845 | 435,485 |
Investment fund | Legg Mason - Western Asset Institutional cash reserves | Up to 90 days | ||
Financial Risk Management [Line Items] | ||
Total financial assets | 312,924 | 590,661 |
Margin Call | Banco Morgan Stanley | Over 90 days | ||
Financial Risk Management [Line Items] | ||
Total financial assets | 5,590 | |
Time Deposits And Investment Fund | Up to 90 days | ||
Financial Risk Management [Line Items] | ||
Total financial assets | 364,345 | $ 2,125,587 |
Time Deposits And Margin Call | Over 90 days | ||
Financial Risk Management [Line Items] | ||
Total financial assets | $ 1,316,797 |
Financial risk management - Und
Financial risk management - Undiscounted Cash Flows of Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Financial Risk Management [Line Items] | ||
Bank borrowings | $ 1,448,710 | $ 365,160 |
Unsecured obligations | 3,562,360 | 3,956,980 |
Sub total | 5,011,070 | 4,322,140 |
Hedging liabilities | 55,490 | 73,870 |
Derivative financial instruments | 14,810 | 5,820 |
Sub total | 70,300 | 79,690 |
Current and non-current lease liabilities | 80,180 | 78,120 |
Trade accounts payable and other accounts payable | 449,633 | 374,789 |
Total financial liabilities | 5,611,180 | 4,854,740 |
Less than 1 year | ||
Financial Risk Management [Line Items] | ||
Bank borrowings | 1,117,860 | 144,830 |
Unsecured obligations | 98,880 | 405,170 |
Sub total | 1,216,740 | 550,000 |
Hedging liabilities | 24,110 | 40,760 |
Derivative financial instruments | 14,810 | 5,820 |
Sub total | 38,920 | 46,580 |
Current and non-current lease liabilities | 19,940 | 13,940 |
Trade accounts payable and other accounts payable | 449,630 | 374,790 |
Total financial liabilities | 1,725,230 | 985,310 |
1 to 5 years | ||
Financial Risk Management [Line Items] | ||
Bank borrowings | 268,800 | 220,330 |
Unsecured obligations | 729,560 | 616,660 |
Sub total | 998,360 | 836,990 |
Hedging liabilities | 30,080 | 20,430 |
Derivative financial instruments | 0 | 0 |
Sub total | 30,080 | 20,430 |
Current and non-current lease liabilities | 56,450 | 36,330 |
Trade accounts payable and other accounts payable | 0 | 0 |
Total financial liabilities | 1,084,890 | 893,750 |
Over 5 years | ||
Financial Risk Management [Line Items] | ||
Bank borrowings | 62,050 | 0 |
Unsecured obligations | 2,733,920 | 2,935,150 |
Sub total | 2,795,970 | 2,935,150 |
Hedging liabilities | 1,300 | 12,680 |
Derivative financial instruments | 0 | 0 |
Sub total | 1,300 | 12,680 |
Current and non-current lease liabilities | 3,790 | 27,850 |
Trade accounts payable and other accounts payable | 0 | 0 |
Total financial liabilities | 2,801,060 | 2,975,680 |
Carrying amount | ||
Financial Risk Management [Line Items] | ||
Bank borrowings | 1,464,260 | 330,800 |
Unsecured obligations | 2,999,170 | 2,550,600 |
Sub total | 4,463,430 | 2,881,400 |
Hedging liabilities | 25,370 | 62,530 |
Derivative financial instruments | 14,810 | 5,820 |
Sub total | 40,180 | 68,350 |
Current and non-current lease liabilities | 75,160 | 61,730 |
Trade accounts payable and other accounts payable | 449,630 | 374,790 |
Total financial liabilities | $ 5,028,400 | $ 3,386,270 |
Financial risk management - Nar
Financial risk management - Narrative (Details) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Dec. 31, 2023 USD ($) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | |
Financial Risk Management [Line Items] | |||
Insurance coverage on risk, percentage | 80% | 80% | |
Liquidity ratio | 2.33 | 2.29 | |
Hedging assets | $ 25,039 | $ 25,039 | $ 33,794 |
Credit facility | |||
Financial Risk Management [Line Items] | |||
Undrawn borrowing facilities | 1,116,000 | $ 1,116,000 | |
Secured Overnight Financing Rate (SOFR) | |||
Financial Risk Management [Line Items] | |||
Financial liabilities maturing in the next 12 months, percentage | 6.80% | ||
Liquidity risk | |||
Financial Risk Management [Line Items] | |||
Hedging assets | 504,393 | $ 504,393 | 512,236 |
CLP to US Dollar | |||
Financial Risk Management [Line Items] | |||
Derivative instruments designated as fair value hedges assets | 50,600 | 50,600 | |
Euro to US Dollar | |||
Financial Risk Management [Line Items] | |||
Derivative instruments designated as fair value hedges assets | 24,440 | 24,440 | |
South African Rand to US Dollar | |||
Financial Risk Management [Line Items] | |||
Derivative instruments designated as fair value hedges assets | 21,720 | 21,720 | |
Chinese Renminbi to US Dollar | |||
Financial Risk Management [Line Items] | |||
Derivative instruments designated as fair value hedges assets | 535,320 | 535,320 | |
Australian Dollar to US Dollar | |||
Financial Risk Management [Line Items] | |||
Derivative instruments designated as fair value hedges assets | 64,400 | 64,400 | |
Other countries currencies | |||
Financial Risk Management [Line Items] | |||
Derivative instruments designated as fair value hedges assets | 7,380 | $ 7,380 | |
Chile | |||
Financial Risk Management [Line Items] | |||
Average foreign exchange rate, percentage | 100 | ||
Derivatives | |||
Financial Risk Management [Line Items] | |||
Adjustments for unrealised foreign exchange losses (gains) | 873,000 | ||
Financial assets, at fair value | 2,520 | $ 2,520 | 11,730 |
Derivatives | Cash Flow | |||
Financial Risk Management [Line Items] | |||
Derivative instruments designated as fair value hedges assets | $ 1,440 | $ 1,440 | |
Derivatives | Derivative instruments associated with nominative term deposits | Hedges of foreign exchange risks | |||
Financial Risk Management [Line Items] | |||
Percentage of foreign exchange risk associated with nominative term deposits | 100% | 100% | |
Derivative instruments designated as fair value hedges assets | $ 18,300 | $ 18,300 | $ 29,980 |
Separate information on the m_3
Separate information on the main office, parent entity and joint action agreements (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Separate information on the main office, parent entity and joint action agreements [Line Items] | ||||
Assets | $ 10,778,837 | $ 10,819,101 | $ 7,180,201 | |
Liabilities | (6,301,408) | (5,887,100) | (3,964,230) | |
Total equity | 4,477,429 | 4,932,001 | $ 3,215,971 | $ 2,162,578 |
Parent | ||||
Separate information on the main office, parent entity and joint action agreements [Line Items] | ||||
Assets | 8,824,362 | 8,430,376 | ||
Liabilities | (4,383,163) | (3,533,744) | ||
Total equity | $ 4,441,199 | $ 4,896,632 |
Board of directors, Senior Ma_3
Board of directors, Senior Management and Key management personnel - Narrative (Details) CLF in Thousands, $ in Thousands | 12 Months Ended | |||||||
Apr. 26, 2023 CLF director | Apr. 26, 2022 CLF director | Dec. 31, 2023 CLF director employee | Dec. 31, 2023 USD ($) director employee | Dec. 31, 2022 CLF employee director | Dec. 31, 2022 USD ($) employee director | Dec. 31, 2021 CLF director | Dec. 31, 2021 USD ($) director | |
Related Party Disclosures [Line Items] | ||||||||
Number of directors | director | 6 | 6 | ||||||
Election period (in years) | 3 years | 3 years | ||||||
Key management personnel compensation | CLF | CLF 600 | CLF 600 | ||||||
Key management personnel compensation, percentage | 0.06% | 0.06% | ||||||
Variable compensation, percentage of net earnings | 110% | 110% | ||||||
Variable compensation, percentage of net income | 1.10 | 1.10 | ||||||
Variable compensation, percentage of profit | 1.10 | 1.10 | ||||||
Number of employees | employee | 7,682 | 7,682 | 6,997 | 6,997 | ||||
Chairman | ||||||||
Related Party Disclosures [Line Items] | ||||||||
Key management personnel compensation | CLF | CLF 800 | CLF 800 | ||||||
Key management personnel compensation, percentage | 0.12% | 0.12% | ||||||
Directors | ||||||||
Related Party Disclosures [Line Items] | ||||||||
Number of directors | director | 2 | 8 | 8 | |||||
Directors committee | ||||||||
Related Party Disclosures [Line Items] | ||||||||
Number of directors | director | 3 | 3 | 3 | 3 | 3 | 3 | ||
Key management personnel compensation | CLF 200 | $ 7,516 | CLF 200 | $ 6,711 | CLF 200 | $ 3,749 | ||
Key management personnel compensation, percentage | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | ||
Variable compensation, percentage of net income | 1.10 | 1.10 | ||||||
Health, Safety and Environmental Matters Committee | ||||||||
Related Party Disclosures [Line Items] | ||||||||
Number of directors | director | 3 | 3 | ||||||
Key management personnel compensation | CLF | CLF 100 | |||||||
Corporate Governance Committee | ||||||||
Related Party Disclosures [Line Items] | ||||||||
Number of directors | director | 3 | 3 | ||||||
Key management personnel compensation | CLF | CLF 100 | |||||||
Vice President | ||||||||
Related Party Disclosures [Line Items] | ||||||||
Key management personnel compensation | CLF | CLF 700 | CLF 700 | ||||||
Key Management Personnel | ||||||||
Related Party Disclosures [Line Items] | ||||||||
Key management personnel compensation | $ | $ 37,418 | $ 29,633 | $ 31,560 | |||||
Number of employees | employee | 153 | 153 | 142 | 142 |
Board of Directors, Senior Ma_4
Board of Directors, Senior Management and Key management personnel (Details) CLF in Thousands, $ in Thousands | 12 Months Ended | ||||
Apr. 26, 2023 CLF | Apr. 26, 2022 CLF | Dec. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | |
Board Of Directors, Senior Management And Key Management Personnel [Line Items] | |||||
Key management personnel compensation | CLF | CLF 600 | CLF 600 | |||
Key Management Personnel | |||||
Board Of Directors, Senior Management And Key Management Personnel [Line Items] | |||||
Key management personnel compensation | $ | $ 37,418 | $ 29,633 | $ 31,560 |
Equity-accounted investees - In
Equity-accounted investees - Investments in Associates (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Equity-Accounted Investees [Line Items] | |||
Investment accounted for under the equity method | $ 86,417 | $ 54,386 | $ 39,824 |
Investments accounted for using the equity method of accounting | |||
Equity-Accounted Investees [Line Items] | |||
Investment accounted for under the equity method | 55,513 | 26,278 | |
Share in income of associates accounted for using the equity method | 6,761 | 11,481 | 4,654 |
Share in other comprehensive income of associates accounted for using the equity method | 382 | (498) | 360 |
Share in total comprehensive income of associates accounted for using the equity method | 7,143 | 10,983 | 5,014 |
Ajay North America | |||
Equity-Accounted Investees [Line Items] | |||
Investment accounted for under the equity method | 17,657 | 17,654 | |
Share in income of associates accounted for using the equity method | 3,733 | 5,351 | 2,802 |
Share in other comprehensive income of associates accounted for using the equity method | 0 | 0 | 0 |
Share in total comprehensive income of associates accounted for using the equity method | 3,733 | 5,351 | 2,802 |
Ajay Europe SARL | |||
Equity-Accounted Investees [Line Items] | |||
Investment accounted for under the equity method | 7,722 | 8,624 | |
Share in income of associates accounted for using the equity method | 4,013 | 6,130 | 1,852 |
Share in other comprehensive income of associates accounted for using the equity method | 382 | (498) | 360 |
Share in total comprehensive income of associates accounted for using the equity method | 4,395 | 5,632 | 2,212 |
SAS Adionics | |||
Equity-Accounted Investees [Line Items] | |||
Investment accounted for under the equity method | 19,514 | 0 | |
Share in income of associates accounted for using the equity method | (985) | 0 | 0 |
Share in other comprehensive income of associates accounted for using the equity method | 0 | 0 | 0 |
Share in total comprehensive income of associates accounted for using the equity method | (985) | 0 | 0 |
Electric Era Technologies Inc. | |||
Equity-Accounted Investees [Line Items] | |||
Investment accounted for under the equity method | 3,000 | 0 | |
Share in income of associates accounted for using the equity method | 0 | 0 | 0 |
Share in other comprehensive income of associates accounted for using the equity method | 0 | 0 | 0 |
Share in total comprehensive income of associates accounted for using the equity method | 0 | 0 | 0 |
Altilium Metals Ltd. | |||
Equity-Accounted Investees [Line Items] | |||
Investment accounted for under the equity method | 7,620 | 0 | |
Share in income of associates accounted for using the equity method | 0 | 0 | 0 |
Share in other comprehensive income of associates accounted for using the equity method | 0 | 0 | 0 |
Share in total comprehensive income of associates accounted for using the equity method | $ 0 | $ 0 | $ 0 |
Equity-accounted investees - Di
Equity-accounted investees - Dividends Received (Details) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | 12 Months Ended | ||
Feb. 28, 2022 | Jun. 30, 2023 | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Equity-Accounted Investees [Line Items] | |||||
Dividends received | $ 9,328 | $ 6,354 | $ 11,663 | ||
Abu Dhabi Fertilizer Industries WWL | |||||
Equity-Accounted Investees [Line Items] | |||||
Share of ownership in associates, percentage | 37% | ||||
Dividends received | $ 3,000 | $ 633 | $ 633 | 3,000 | 9,438 |
Ajay North America | |||||
Equity-Accounted Investees [Line Items] | |||||
Share of ownership in associates, percentage | 49% | ||||
Dividends received | $ 4,013 | 1,576 | 1,233 | ||
Ajay Europe SARL | |||||
Equity-Accounted Investees [Line Items] | |||||
Share of ownership in associates, percentage | 50% | ||||
Dividends received | $ 4,682 | 1,778 | 992 | ||
SAS Adionics | |||||
Equity-Accounted Investees [Line Items] | |||||
Share of ownership in associates, percentage | 20% | ||||
Dividends received | $ 0 | 0 | 0 | ||
Electric Era Technologies Inc. | |||||
Equity-Accounted Investees [Line Items] | |||||
Share of ownership in associates, percentage | 6.82% | ||||
Dividends received | $ 0 | 0 | 0 | ||
Altilium Metals Ltd. | |||||
Equity-Accounted Investees [Line Items] | |||||
Share of ownership in associates, percentage | 3% | ||||
Dividends received | $ 0 | $ 0 | $ 0 |
Equity-accounted investees - As
Equity-accounted investees - Assets, Liabilities, Revenue and Expenses of Associates (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Equity-Accounted Investees [Line Items] | |||
Current assets | $ 5,866,141 | $ 6,991,509 | |
Non-current assets | 4,912,696 | 3,827,592 | |
Current liabilities | 2,513,876 | 3,051,547 | |
Non-current liabilities | 3,787,532 | 2,835,553 | |
Revenue | 7,467,490 | 10,710,578 | $ 2,862,315 |
Net income (loss) | 930,267 | 3,914,284 | 592,205 |
Other comprehensive income | 145,828 | 14,291 | (37,993) |
Comprehensive income | 1,076,095 | 3,928,575 | 554,212 |
Associates | |||
Equity-Accounted Investees [Line Items] | |||
Current assets | 90,570 | 64,197 | |
Non-current assets | 150,268 | 17,964 | |
Current liabilities | 55,090 | 28,881 | |
Non-current liabilities | 917 | 2 | |
Revenue | 138,801 | 127,542 | 95,784 |
Net income (loss) | 5,629 | 23,180 | 9,423 |
Other comprehensive income | 12 | (21) | (34) |
Comprehensive income | 5,641 | 23,159 | 9,389 |
Ajay North America | |||
Equity-Accounted Investees [Line Items] | |||
Current assets | 26,280 | 30,455 | |
Non-current assets | 16,307 | 15,972 | |
Current liabilities | 6,553 | 10,395 | |
Non-current liabilities | 0 | 2 | |
Revenue | 60,019 | 63,482 | 47,375 |
Net income (loss) | 7,617 | 10,919 | 5,718 |
Other comprehensive income | 0 | 0 | 0 |
Comprehensive income | 7,617 | 10,919 | 5,718 |
Ajay Europe SARL | |||
Equity-Accounted Investees [Line Items] | |||
Current assets | 27,263 | 33,742 | |
Non-current assets | 3,197 | 1,992 | |
Current liabilities | 15,015 | 18,486 | |
Non-current liabilities | 0 | 0 | |
Revenue | 73,952 | 64,060 | 48,409 |
Net income (loss) | 8,025 | 12,261 | 3,705 |
Other comprehensive income | 12 | (21) | (34) |
Comprehensive income | 8,037 | $ 12,240 | $ 3,671 |
SAS Adionics | |||
Equity-Accounted Investees [Line Items] | |||
Current assets | 19,645 | ||
Non-current assets | 12,294 | ||
Current liabilities | 5,141 | ||
Non-current liabilities | 917 | ||
Revenue | 4,156 | ||
Net income (loss) | (4,924) | ||
Other comprehensive income | 0 | ||
Comprehensive income | (4,924) | ||
Electric Era Technologies Inc. | |||
Equity-Accounted Investees [Line Items] | |||
Current assets | 15,486 | ||
Non-current assets | 242 | ||
Current liabilities | 3,702 | ||
Non-current liabilities | 0 | ||
Revenue | 674 | ||
Net income (loss) | (3,177) | ||
Other comprehensive income | 0 | ||
Comprehensive income | (3,177) | ||
Altilium Metals Ltd. | |||
Equity-Accounted Investees [Line Items] | |||
Current assets | 1,896 | ||
Non-current assets | 118,228 | ||
Current liabilities | 24,679 | ||
Non-current liabilities | 0 | ||
Revenue | 0 | ||
Net income (loss) | (1,912) | ||
Other comprehensive income | 0 | ||
Comprehensive income | $ (1,912) |
Equity-accounted investees - _2
Equity-accounted investees - Disclosures Regarding Interests in Associates (Details) $ in Thousands | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||||||
Dec. 31, 2021 USD ($) | Jun. 30, 2021 USD ($) | Feb. 28, 2022 USD ($) | Sep. 30, 2023 USD ($) | Jun. 30, 2023 USD ($) | Jun. 30, 2021 USD ($) | Mar. 31, 2021 | Dec. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | |
Equity-Accounted Investees [Line Items] | ||||||||||
Dividends received | $ 9,328 | $ 6,354 | $ 11,663 | |||||||
SAS Adionics | ||||||||||
Equity-Accounted Investees [Line Items] | ||||||||||
Payment to acquire investment in associates | $ 20,383 | |||||||||
Proportion of ownership interest in associate, percentage | 20% | |||||||||
Altilium Metals Ltd. | ||||||||||
Equity-Accounted Investees [Line Items] | ||||||||||
Payment to acquire investment in associates | $ 7,620 | |||||||||
Proportion of ownership interest in associate, percentage | 3% | |||||||||
Electric Era Technologies Inc. | ||||||||||
Equity-Accounted Investees [Line Items] | ||||||||||
Payment to acquire investment in associates | $ 3,000 | |||||||||
Proportion of ownership interest in associate, percentage | 6.82% | |||||||||
Kore Potash PLC | ||||||||||
Equity-Accounted Investees [Line Items] | ||||||||||
Proportion of ownership interest in associate, percentage | 20.15% | |||||||||
Share reduction, percentage | 0.05% | |||||||||
Issue of equity | $ 13,931 | |||||||||
Dilution of shares, percentage | 0.055 | |||||||||
Profit loss from sale of interests in associates | $ 5,778 | |||||||||
Transfer in equity of non controlling interest to other reserves | $ 3,739 | |||||||||
Abu Dhabi Fertilizer Industries WWL | ||||||||||
Equity-Accounted Investees [Line Items] | ||||||||||
Dividends received | $ 3,000 | $ 633 | $ 633 | $ 3,000 | 9,438 | |||||
Proportion of ownership interest in associate, percentage | 37% | |||||||||
Dividend income | $ 523 | |||||||||
Impairment loss recognised in profit or loss | $ 2,800 | |||||||||
Related Party of Abu Dhabi Fertilizer Industries WWL | ||||||||||
Equity-Accounted Investees [Line Items] | ||||||||||
Dividends receivable | $ 2,477 | $ 2,477 | ||||||||
Related Party of Abu Dhabi Fertilizer Industries WWL | Internacional Technical and Trading Agenies Co. WLL | ||||||||||
Equity-Accounted Investees [Line Items] | ||||||||||
Dividends received | $ 9,438 |
Joint Ventures - Investments Ac
Joint Ventures - Investments Accounted for Under Equity Method of Accounting (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of joint ventures [line items] | |||
Investment accounted for under the equity method | $ 86,417 | $ 54,386 | $ 39,824 |
Joint ventures | |||
Disclosure of joint ventures [line items] | |||
Investment accounted for under the equity method | 30,904 | 28,108 | |
Share in income (loss) of joint ventures accounted for using the equity method | (6,061) | 8,678 | 6,478 |
Share on other comprehensive income joint ventures accounted for using the equity method | 0 | 551 | (429) |
Share on total comprehensive income of joint ventures accounted for using the equity method | (2,302) | 8,678 | 5,798 |
SQM Vitas Fzco. | |||
Disclosure of joint ventures [line items] | |||
Investment accounted for under the equity method | 19,490 | 20,793 | |
Share in income (loss) of joint ventures accounted for using the equity method | (6,564) | 8,208 | 6,304 |
Share on other comprehensive income joint ventures accounted for using the equity method | 2,450 | 674 | 429 |
Share on total comprehensive income of joint ventures accounted for using the equity method | (4,114) | 8,882 | 6,733 |
Pavoni & C. Spa | |||
Disclosure of joint ventures [line items] | |||
Investment accounted for under the equity method | 7,870 | 7,315 | |
Share in income (loss) of joint ventures accounted for using the equity method | 396 | 470 | 174 |
Share on other comprehensive income joint ventures accounted for using the equity method | 139 | (210) | (317) |
Share on total comprehensive income of joint ventures accounted for using the equity method | 535 | 260 | (143) |
Covalent Lithium Pty Ltd. | |||
Disclosure of joint ventures [line items] | |||
Investment accounted for under the equity method | 0 | 0 | |
Share in income (loss) of joint ventures accounted for using the equity method | 107 | 0 | 0 |
Share on other comprehensive income joint ventures accounted for using the equity method | 1,583 | 90 | 37 |
Share on total comprehensive income of joint ventures accounted for using the equity method | 1,690 | 90 | 37 |
Pirra Lithium Pty Ltd. | |||
Disclosure of joint ventures [line items] | |||
Investment accounted for under the equity method | 3,544 | 0 | |
Share in income (loss) of joint ventures accounted for using the equity method | 0 | 0 | 0 |
Share on other comprehensive income joint ventures accounted for using the equity method | 0 | 0 | 0 |
Share on total comprehensive income of joint ventures accounted for using the equity method | 0 | 0 | 0 |
SQM Vitas Brasil Agroindustria | |||
Disclosure of joint ventures [line items] | |||
Investment accounted for under the equity method | 0 | 14,667 | |
Share in income (loss) of joint ventures accounted for using the equity method | 0 | 5,834 | 4,582 |
Share on other comprehensive income joint ventures accounted for using the equity method | 0 | 551 | (429) |
Share on total comprehensive income of joint ventures accounted for using the equity method | 0 | 6,385 | 4,153 |
SQM Vitas Perú S.A.C. | |||
Disclosure of joint ventures [line items] | |||
Investment accounted for under the equity method | 2,488 | 1,340 | |
Share in income (loss) of joint ventures accounted for using the equity method | (2,302) | 2,293 | 1,645 |
Share on other comprehensive income joint ventures accounted for using the equity method | 0 | 0 | 0 |
Share on total comprehensive income of joint ventures accounted for using the equity method | (2,302) | 2,293 | 1,645 |
Joint Venture Total | |||
Disclosure of joint ventures [line items] | |||
Investment accounted for under the equity method | 2,488 | 16,007 | |
Share in income (loss) of joint ventures accounted for using the equity method | (2,302) | 8,127 | 6,227 |
Share on other comprehensive income joint ventures accounted for using the equity method | 4,172 | 554 | 149 |
Share on total comprehensive income of joint ventures accounted for using the equity method | $ (1,889) | $ 9,232 | $ 6,627 |
Joint Ventures - Dividends Rece
Joint Ventures - Dividends Received (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of joint ventures [line items] | ||||
Dividends received | $ 9,328 | $ 6,354 | $ 11,663 | |
SQM Vitas Fzco. | ||||
Disclosure of joint ventures [line items] | ||||
Share of ownership in associates | 50% | |||
Dividends received | $ 0 | 0 | 0 | |
Pavoni & C. Spa | ||||
Disclosure of joint ventures [line items] | ||||
Share of ownership in associates | 50% | |||
Dividends received | $ 0 | 0 | 0 | |
Covalent Lithium Pty Ltd. | ||||
Disclosure of joint ventures [line items] | ||||
Share of ownership in associates | 50% | |||
Dividends received | $ 0 | 0 | 0 | |
SQM Vitas Brasil Agroindustria | ||||
Disclosure of joint ventures [line items] | ||||
Share of ownership in associates | 49.99% | |||
Dividends received | $ 0 | 0 | 0 | |
SQM Vitas Perú S.A.C. | ||||
Disclosure of joint ventures [line items] | ||||
Share of ownership in associates | 50% | |||
Dividends received | $ 0 | 0 | 0 | |
Pirra Lithium Pty Ltd. | ||||
Disclosure of joint ventures [line items] | ||||
Share of ownership in associates | 37.50% | 37.50% | ||
Dividends received | $ 0 | 0 | 0 | |
Dividends received | ||||
Disclosure of joint ventures [line items] | ||||
Dividends received | $ 0 | $ 0 | $ 0 |
Joint Ventures - Assets, Liabil
Joint Ventures - Assets, Liabilities, Revenue and Expenses from Joint Ventures (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of joint ventures [line items] | |||
Current assets | $ 5,866,141 | $ 6,991,509 | |
Non-current assets | 4,912,696 | 3,827,592 | |
Current liabilities | 2,513,876 | 3,051,547 | |
Non-current liabilities | 3,787,532 | 2,835,553 | |
Revenue | 7,467,490 | 10,710,578 | $ 2,862,315 |
Net income (loss) | 930,267 | 3,914,284 | 592,205 |
Other comprehensive income | 145,828 | 14,291 | (37,993) |
Comprehensive income | 1,076,095 | 3,928,575 | 554,212 |
SQM Vitas Fzco. | |||
Disclosure of joint ventures [line items] | |||
Current assets | 34,056 | 9,618 | |
Non-current assets | 0 | 0 | |
Current liabilities | 52 | 49 | |
Non-current liabilities | 0 | 0 | |
Revenue | 0 | 0 | 0 |
Net income (loss) | 359 | 165 | 159 |
Other comprehensive income | 0 | 0 | 0 |
Comprehensive income | 359 | 165 | 159 |
SQM Vitas Brasil Agroindustria | |||
Disclosure of joint ventures [line items] | |||
Current assets | 0 | 73,045 | |
Non-current assets | 0 | 6,111 | |
Current liabilities | 0 | 45,894 | |
Non-current liabilities | 0 | 0 | |
Revenue | 0 | 162,026 | 103,335 |
Net income (loss) | 0 | 11,670 | 9,165 |
Other comprehensive income | 0 | 602 | (858) |
Comprehensive income | 0 | 12,272 | 8,307 |
SQM Vitas Perú S.A.C. | |||
Disclosure of joint ventures [line items] | |||
Current assets | 40,327 | 59,196 | |
Non-current assets | 8,954 | 7,285 | |
Current liabilities | 36,898 | 49,596 | |
Non-current liabilities | 220 | 117 | |
Revenue | 53,477 | 61,387 | 48,128 |
Net income (loss) | (4,603) | 4,586 | 3,289 |
Other comprehensive income | 0 | 0 | 0 |
Comprehensive income | (4,603) | 4,586 | 3,289 |
Pavoni & C. Spa | |||
Disclosure of joint ventures [line items] | |||
Current assets | 11,879 | 11,516 | |
Non-current assets | 6,407 | 6,358 | |
Current liabilities | 8,146 | 8,853 | |
Non-current liabilities | 814 | 802 | |
Revenue | 21,439 | 18,066 | 19,599 |
Net income (loss) | 792 | 939 | 347 |
Other comprehensive income | 115 | (344) | (634) |
Comprehensive income | 907 | 595 | (287) |
Covalent Lithium Pty Ltd. | |||
Disclosure of joint ventures [line items] | |||
Current assets | 6,980 | 2,077 | |
Non-current assets | 2,602 | 3,088 | |
Current liabilities | 7,106 | 7,062 | |
Non-current liabilities | 4,009 | 3,017 | |
Revenue | 0 | 0 | 0 |
Net income (loss) | 215 | (2,648) | (864) |
Other comprehensive income | 0 | 0 | 74 |
Comprehensive income | 215 | (2,648) | (790) |
Pirra Lithium Pty Ltd. | |||
Disclosure of joint ventures [line items] | |||
Current assets | 0 | ||
Non-current assets | 0 | ||
Current liabilities | 0 | ||
Non-current liabilities | 0 | ||
Revenue | 0 | ||
Net income (loss) | 0 | ||
Other comprehensive income | 0 | ||
Comprehensive income | 0 | ||
Joint ventures | |||
Disclosure of joint ventures [line items] | |||
Current assets | 93,242 | 155,452 | |
Non-current assets | 17,963 | 22,842 | |
Current liabilities | 52,202 | 111,454 | |
Non-current liabilities | 5,043 | 3,936 | |
Revenue | 74,916 | 241,479 | 171,062 |
Net income (loss) | (3,237) | 14,712 | 12,096 |
Other comprehensive income | 115 | 258 | (1,418) |
Comprehensive income | $ (3,122) | $ 14,970 | $ 10,678 |
Joint Ventures - Other Joint Ve
Joint Ventures - Other Joint Venture Disclosures (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of joint ventures [line items] | ||||
Cash and cash equivalents | $ 1,041,369 | $ 2,655,236 | $ 1,515,051 | $ 509,102 |
Other current financial liabilities | 1,256,499 | 522,999 | ||
Other non-current financial liabilities | 3,213,422 | 2,394,218 | ||
Subtotal | (280,787) | (244,458) | (214,239) | |
Interest expense | (138,402) | (86,651) | (84,626) | |
Income tax benefit (expense) | 1,876,751 | 1,572,212 | $ 249,016 | |
Joint ventures | ||||
Disclosure of joint ventures [line items] | ||||
Cash and cash equivalents | 33,033 | 12,913 | ||
Other current financial liabilities | 2,043 | 15,280 | ||
Other non-current financial liabilities | 0 | 117 | ||
Subtotal | (1,417) | (1,050) | ||
Interest expense | (655) | (1,019) | ||
Income tax benefit (expense) | (1,514) | 4,899 | ||
SQM Vitas Fzco. | ||||
Disclosure of joint ventures [line items] | ||||
Cash and cash equivalents | 28,012 | 3,866 | ||
Other current financial liabilities | 0 | 0 | ||
Other non-current financial liabilities | 0 | 0 | ||
Subtotal | 0 | 0 | ||
Interest expense | (1) | (1) | ||
Income tax benefit (expense) | 0 | 0 | ||
SQM Vitas Brasil Agroindustria | ||||
Disclosure of joint ventures [line items] | ||||
Cash and cash equivalents | 0 | 3,820 | ||
Other current financial liabilities | 0 | 9,753 | ||
Other non-current financial liabilities | 0 | 0 | ||
Subtotal | 0 | (331) | ||
Interest expense | 0 | (333) | ||
Income tax benefit (expense) | 0 | 3,164 | ||
SQM Vitas Perú S.A.C. | ||||
Disclosure of joint ventures [line items] | ||||
Cash and cash equivalents | 2,318 | 2,208 | ||
Other current financial liabilities | 0 | 82 | ||
Other non-current financial liabilities | 0 | 117 | ||
Subtotal | (513) | (360) | ||
Interest expense | (220) | (298) | ||
Income tax benefit (expense) | (2,013) | 2,370 | ||
Pavoni & C. Spa | ||||
Disclosure of joint ventures [line items] | ||||
Cash and cash equivalents | 838 | 1,088 | ||
Other current financial liabilities | 2,043 | 4,951 | ||
Other non-current financial liabilities | 0 | 0 | ||
Subtotal | (213) | (183) | ||
Interest expense | (418) | (347) | ||
Income tax benefit (expense) | 392 | 459 | ||
Covalent Lithium Pty Ltd. | ||||
Disclosure of joint ventures [line items] | ||||
Cash and cash equivalents | 1,865 | 1,931 | ||
Other current financial liabilities | 0 | 494 | ||
Other non-current financial liabilities | 0 | 0 | ||
Subtotal | (691) | (176) | ||
Interest expense | (16) | (40) | ||
Income tax benefit (expense) | $ 107 | $ (1,094) |
Joint Ventures - Narrative (Det
Joint Ventures - Narrative (Details) $ in Thousands | 3 Months Ended | 12 Months Ended | 60 Months Ended | |||||
Dec. 19, 2023 USD ($) | Dec. 18, 2023 USD ($) | Feb. 09, 2021 USD ($) subsidiary | Jun. 30, 2024 USD ($) | Dec. 31, 2023 USD ($) | Dec. 31, 2023 USD ($) | Dec. 31, 2017 | Dec. 31, 2025 USD ($) | |
Disclosure of joint ventures [line items] | ||||||||
Number of subsidiaries | subsidiary | 2 | |||||||
Sichuan SQM Migao Chemical Fertilizers Co Ltd. | ||||||||
Disclosure of joint ventures [line items] | ||||||||
Sales contracts and interest in the joint venture | $ 11,500 | |||||||
Mt Holland | ||||||||
Disclosure of joint ventures [line items] | ||||||||
Ownership Interest, percentage | 50% | |||||||
Contribution towards projects in joint operations | $ 720,600 | |||||||
Pending contribution towards investment | $ 124,000 | |||||||
Mt Holland | Forecast | ||||||||
Disclosure of joint ventures [line items] | ||||||||
Other cash payments to acquire interests in joint ventures, classified as investing activities | $ 700,000 | |||||||
Production capacity, metric tons | 50 | |||||||
SQM Vitas Brasil | SQM Vitas Fzco | ||||||||
Disclosure of joint ventures [line items] | ||||||||
Share of ownership in associates | 100% | |||||||
Profit loss from sale of interests in associates | $ 2,600 | |||||||
Dividends received from joint ventures, classified as investing activities | $ 14,282 | |||||||
SQM Vitas Fzco | ||||||||
Disclosure of joint ventures [line items] | ||||||||
Dividends received from joint ventures, classified as investing activities | $ 12,500 | |||||||
Pirra Lithium Pty Ltd. | ||||||||
Disclosure of joint ventures [line items] | ||||||||
Other cash payments to acquire interests in joint ventures, classified as investing activities | $ 3,544 | |||||||
Share of ownership in associates | 37.50% | 37.50% | ||||||
SQM Vitas Perú S.A.C. | ||||||||
Disclosure of joint ventures [line items] | ||||||||
Share of ownership in associates | 50% | |||||||
SQM Vitas Perú S.A.C. | SQM Vitas Fzco | Forecast | ||||||||
Disclosure of joint ventures [line items] | ||||||||
Other cash payments to acquire interests in joint ventures, classified as investing activities | $ 5,000 | |||||||
Share of ownership in associates | 50% |
Cash and cash equivalents - Typ
Cash and cash equivalents - Types of Cash and Cash Equivalents (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Cash and cash equivalents [abstract] | ||||
Cash on hand | $ 33 | $ 43 | ||
Cash in banks | 676,282 | 529,606 | ||
Other demand deposits | 709 | 0 | ||
Total Cash | 677,024 | 529,649 | ||
Short-term deposits, classified as cash equivalents | 23,545 | 1,099,441 | ||
Short-term investments, classified as cash equivalents | 340,800 | 1,026,146 | ||
Total cash equivalents | 364,345 | 2,125,587 | ||
Total cash and cash equivalents | $ 1,041,369 | $ 2,655,236 | $ 1,515,051 | $ 509,102 |
Cash and cash equivalents - Sho
Cash and cash equivalents - Short-Term Investments, Classified as Cash Equivalents (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosures Of Cash And Cash Equivalents [Line Items] | ||
Short-term investments, classified as cash equivalents | $ 340,800 | $ 1,026,146 |
Legg Mason - Western Asset Institutional cash reserves | ||
Disclosures Of Cash And Cash Equivalents [Line Items] | ||
Short-term investments, classified as cash equivalents | 312,924 | 590,661 |
JP Morgan US dollar Liquidity Fund Institutional | ||
Disclosures Of Cash And Cash Equivalents [Line Items] | ||
Short-term investments, classified as cash equivalents | 22,845 | 435,485 |
Banco Crédito e Inversiones | ||
Disclosures Of Cash And Cash Equivalents [Line Items] | ||
Short-term investments, classified as cash equivalents | $ 5,031 | $ 0 |
Cash and cash equivalents - Res
Cash and cash equivalents - Restricted Cash Balances (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosures Of Cash And Cash Equivalents [Line Items] | ||
Restricted cash | $ 950 | $ 717 |
Isapre Norte Grande Ltda. | ||
Disclosures Of Cash And Cash Equivalents [Line Items] | ||
Restricted cash | $ 950 | $ 717 |
Cash and cash equivalents - S_2
Cash and cash equivalents - Short-Term Deposits, Classified as Cash Equivalents (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosures Of Cash And Cash Equivalents [Line Items] | ||
Principal | $ 50,707 | $ 345,949 |
Short-term deposits, classified as cash equivalents | $ 23,545 | $ 1,099,441 |
Short term deposit one | ||
Disclosures Of Cash And Cash Equivalents [Line Items] | ||
Interest Rate | 0.39% | 0.95% |
Principal | $ 5,000 | $ 42,998 |
Interest accrued to-date | 16 | 609 |
Short-term deposits, classified as cash equivalents | $ 5,016 | $ 43,607 |
Short term deposit two | ||
Disclosures Of Cash And Cash Equivalents [Line Items] | ||
Interest Rate | 0.28% | 0.94% |
Principal | $ 1,300 | $ 100,817 |
Interest accrued to-date | 2 | 537 |
Short-term deposits, classified as cash equivalents | $ 1,302 | $ 101,354 |
Short term deposit three | ||
Disclosures Of Cash And Cash Equivalents [Line Items] | ||
Interest Rate | 0.80% | 0.96% |
Principal | $ 1,000 | $ 41,421 |
Interest accrued to-date | 0 | 343 |
Short-term deposits, classified as cash equivalents | $ 1,000 | $ 41,764 |
Short term deposit four | ||
Disclosures Of Cash And Cash Equivalents [Line Items] | ||
Interest Rate | 0.27% | 0.96% |
Principal | $ 3,000 | $ 100,660 |
Interest accrued to-date | 6 | 644 |
Short-term deposits, classified as cash equivalents | $ 3,006 | $ 101,304 |
Short term deposit five | ||
Disclosures Of Cash And Cash Equivalents [Line Items] | ||
Interest Rate | 0.54% | 0.95% |
Principal | $ 2,000 | $ 32,248 |
Interest accrued to-date | 8 | 458 |
Short-term deposits, classified as cash equivalents | $ 2,008 | $ 32,706 |
Short term deposit six | ||
Disclosures Of Cash And Cash Equivalents [Line Items] | ||
Interest Rate | 0.45% | 0.95% |
Principal | $ 2,700 | $ 73,831 |
Interest accrued to-date | 5 | 1,070 |
Short-term deposits, classified as cash equivalents | $ 2,705 | $ 74,901 |
Short term deposit seven | ||
Disclosures Of Cash And Cash Equivalents [Line Items] | ||
Interest Rate | 0.23% | 0.96% |
Principal | $ 2,200 | $ 30,146 |
Interest accrued to-date | 4 | 183 |
Short-term deposits, classified as cash equivalents | $ 2,204 | $ 30,329 |
Short term deposit eight | ||
Disclosures Of Cash And Cash Equivalents [Line Items] | ||
Interest Rate | 0.16% | 0.95% |
Principal | $ 1,140 | $ 103,288 |
Interest accrued to-date | 1 | 523 |
Short-term deposits, classified as cash equivalents | $ 1,141 | $ 103,811 |
Short term deposit nine | ||
Disclosures Of Cash And Cash Equivalents [Line Items] | ||
Interest Rate | 0.78% | 0.94% |
Principal | $ 700 | $ 20,710 |
Interest accrued to-date | 2 | 168 |
Short-term deposits, classified as cash equivalents | $ 702 | $ 20,878 |
Short term deposit ten | ||
Disclosures Of Cash And Cash Equivalents [Line Items] | ||
Interest Rate | 0.70% | 0.96% |
Principal | $ 1,850 | $ 50,330 |
Interest accrued to-date | 1 | 322 |
Short-term deposits, classified as cash equivalents | $ 1,851 | $ 50,652 |
Short term deposit eleven | ||
Disclosures Of Cash And Cash Equivalents [Line Items] | ||
Interest Rate | 1.02% | 0.98% |
Principal | $ 1,300 | $ 100,487 |
Interest accrued to-date | 6 | 621 |
Short-term deposits, classified as cash equivalents | $ 1,306 | $ 101,108 |
Short term deposit twelve | ||
Disclosures Of Cash And Cash Equivalents [Line Items] | ||
Interest Rate | 0.77% | 0.96% |
Principal | $ 1,300 | $ 70,341 |
Interest accrued to-date | 4 | 428 |
Short-term deposits, classified as cash equivalents | 1,304 | $ 70,769 |
Short term deposit thirteen | ||
Disclosures Of Cash And Cash Equivalents [Line Items] | ||
Interest Rate | 0.97% | |
Principal | $ 100,258 | |
Interest accrued to-date | 584 | |
Short-term deposits, classified as cash equivalents | $ 100,842 | |
Short term deposit fourteen | ||
Disclosures Of Cash And Cash Equivalents [Line Items] | ||
Interest Rate | 4.54% | |
Principal | $ 82,000 | |
Interest accrued to-date | 424 | |
Short-term deposits, classified as cash equivalents | $ 82,424 | |
Short term deposit fifteen | ||
Disclosures Of Cash And Cash Equivalents [Line Items] | ||
Interest Rate | 4.54% | |
Principal | $ 122,000 | |
Interest accrued to-date | 631 | |
Short-term deposits, classified as cash equivalents | $ 122,631 | |
Short term deposit sixteen | ||
Disclosures Of Cash And Cash Equivalents [Line Items] | ||
Interest Rate | 0.42% | |
Principal | $ 2,000 | |
Interest accrued to-date | 7 | |
Short-term deposits, classified as cash equivalents | $ 2,007 | |
Short term deposit seventeen | ||
Disclosures Of Cash And Cash Equivalents [Line Items] | ||
Interest Rate | 0.44% | |
Principal | $ 1,500 | |
Interest accrued to-date | 6 | |
Short-term deposits, classified as cash equivalents | $ 1,506 | |
Short term deposit eighteen | ||
Disclosures Of Cash And Cash Equivalents [Line Items] | ||
Interest Rate | 0.22% | |
Principal | $ 2,103 | |
Interest accrued to-date | 1 | |
Short-term deposits, classified as cash equivalents | $ 2,104 | |
Short term deposit nineteen | ||
Disclosures Of Cash And Cash Equivalents [Line Items] | ||
Interest Rate | 0.95% | |
Principal | $ 600 | |
Interest accrued to-date | 2 | |
Short-term deposits, classified as cash equivalents | $ 602 | |
Short term deposit twenty | ||
Disclosures Of Cash And Cash Equivalents [Line Items] | ||
Interest Rate | 1.02% | |
Principal | $ 500 | |
Interest accrued to-date | 2 | |
Short-term deposits, classified as cash equivalents | $ 502 | |
Short term deposit twenty one | ||
Disclosures Of Cash And Cash Equivalents [Line Items] | ||
Interest Rate | 0.46% | |
Principal | $ 1,000 | |
Interest accrued to-date | 4 | |
Short-term deposits, classified as cash equivalents | $ 1,004 | |
Short term deposit twenty two | ||
Disclosures Of Cash And Cash Equivalents [Line Items] | ||
Interest Rate | 0.42% | |
Principal | $ 700 | |
Interest accrued to-date | 2 | |
Short-term deposits, classified as cash equivalents | $ 702 | |
Short term deposit twenty three | ||
Disclosures Of Cash And Cash Equivalents [Line Items] | ||
Interest Rate | 1.07% | |
Principal | $ 1,700 | |
Interest accrued to-date | 3 | |
Short-term deposits, classified as cash equivalents | $ 1,703 | |
Short term deposit twenty four | ||
Disclosures Of Cash And Cash Equivalents [Line Items] | ||
Interest Rate | 0.66% | |
Principal | $ 1,000 | |
Interest accrued to-date | 3 | |
Short-term deposits, classified as cash equivalents | $ 1,003 | |
Short term deposit twenty five | ||
Disclosures Of Cash And Cash Equivalents [Line Items] | ||
Interest Rate | 0.64% | |
Principal | $ 2,500 | |
Interest accrued to-date | 15 | |
Short-term deposits, classified as cash equivalents | $ 2,515 | |
Short term deposit twenty six | ||
Disclosures Of Cash And Cash Equivalents [Line Items] | ||
Interest Rate | 0.72% | |
Principal | $ 2,200 | |
Interest accrued to-date | 1 | |
Short-term deposits, classified as cash equivalents | $ 2,201 | |
Short term deposit twenty seven | ||
Disclosures Of Cash And Cash Equivalents [Line Items] | ||
Interest Rate | 0.96% | |
Principal | $ 500 | |
Interest accrued to-date | 0 | |
Short-term deposits, classified as cash equivalents | $ 500 | |
Short term deposit twenty eight | ||
Disclosures Of Cash And Cash Equivalents [Line Items] | ||
Interest Rate | 0.58% | |
Principal | $ 1,500 | |
Interest accrued to-date | 8 | |
Short-term deposits, classified as cash equivalents | $ 1,508 | |
Short term deposit twenty nine | ||
Disclosures Of Cash And Cash Equivalents [Line Items] | ||
Interest Rate | 0.38% | |
Principal | $ 1,500 | |
Interest accrued to-date | 3 | |
Short-term deposits, classified as cash equivalents | $ 1,503 | |
Short term deposit thirty | ||
Disclosures Of Cash And Cash Equivalents [Line Items] | ||
Interest Rate | 0.87% | |
Principal | $ 1,000 | |
Interest accrued to-date | 1 | |
Short-term deposits, classified as cash equivalents | 1,001 | |
Short-term deposits classified as cash equivalents | ||
Disclosures Of Cash And Cash Equivalents [Line Items] | ||
Principal | 23,490 | 1,091,838 |
Interest accrued to-date | 55 | 7,603 |
Short-term deposits, classified as cash equivalents | $ 23,545 | $ 1,099,441 |
Inventories - Type of Inventory
Inventories - Type of Inventory (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Inventories | ||
Raw material | $ 61,098 | $ 27,035 |
Production supplies | 77,810 | 68,426 |
Products-in-progress | 744,217 | 590,946 |
Finished product | 891,469 | 1,097,874 |
Total | $ 1,774,594 | $ 1,784,281 |
Inventories - Narrative (Detail
Inventories - Narrative (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Inventories | ||
Current materials and supplies to be consumed in production process or rendering services | $ 503,318 | $ 513,209 |
Products in progress | 221,559 | 122,284 |
Finished product | 164,029 | 198,796 |
Cost of inventories recognised as expense during period | $ 133,768 | $ 104,057 |
Inventories - Breakdown of Inve
Inventories - Breakdown of Inventory Allowances (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Inventories | ||||
Raw material and supplies for production | $ 7,724 | $ 4,186 | ||
Products-in-progress | 104,970 | 83,499 | ||
Finished product | 21,074 | 16,372 | ||
Total | $ 133,768 | $ 104,057 | $ 75,892 | $ 80,930 |
Inventories - Movements in Inve
Inventories - Movements in Inventory Provisions (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Inventories | |||
Beginning balance | $ 104,057 | $ 75,892 | $ 80,930 |
Increase in Lower Value | 32,926 | 29,693 | (3,650) |
Additional Provision Differences of Inventory | 455 | (161) | 330 |
Increase / Decrease eventual differences and others | 0 | 0 | 0 |
Provision Used | (3,670) | (1,367) | (1,718) |
Total changes | 29,711 | 28,165 | (5,038) |
Final balance | $ 133,768 | $ 104,057 | $ 75,892 |
Related party disclosures - Sig
Related party disclosures - Significant Transactions with Related Parties (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Ajay Europe SARL | |||
Related Party Disclosures [Line Items] | |||
Revenue from sale of products | $ 45,314 | $ 45,205 | $ 35,597 |
Revenue from dividends | 4,682 | 1,778 | 992 |
Ajay North America LL.C. | |||
Related Party Disclosures [Line Items] | |||
Revenue from sale of products | 30,791 | 41,814 | 27,763 |
Revenue from dividends | 4,013 | 1,576 | 1,233 |
Abu Dhabi Fertilizer Industries WWL | |||
Related Party Disclosures [Line Items] | |||
Revenue from dividends | 633 | 3,000 | 9,438 |
SQM Vitas Brasil Agroindustria | |||
Related Party Disclosures [Line Items] | |||
Revenue from sale of products | 9,019 | 51,748 | 79,086 |
SQM Vitas Perú S.A.C. | |||
Related Party Disclosures [Line Items] | |||
Revenue from sale of products | 17,312 | 58,077 | 17,016 |
Coromandel SQM India | |||
Related Party Disclosures [Line Items] | |||
Revenue from sale of products | 0 | 0 | 1,814 |
Pavoni & C. Spa | |||
Related Party Disclosures [Line Items] | |||
Revenue from sale of products | 5,541 | 4,138 | 5,359 |
Banco de Chile | |||
Related Party Disclosures [Line Items] | |||
Revenue from service providers | (32,418) | (27,918) | (20,904) |
El Mercurio S.A.P. | |||
Related Party Disclosures [Line Items] | |||
Revenue from service providers | (1,038) | (90) | (131) |
Compañía de Seguros de Vida Consorcio Nacional | |||
Related Party Disclosures [Line Items] | |||
Revenue from service providers | (33) | (31) | (134) |
Entel PCS Telecomunicaciones S.A. | |||
Related Party Disclosures [Line Items] | |||
Revenue from service providers | (182) | (228) | (157) |
Gonzalo Guerrero Yamamoto | |||
Related Party Disclosures [Line Items] | |||
Revenue from service providers | 0 | (19) | (79) |
Empresa Nacional de Telecomunicaciones | |||
Related Party Disclosures [Line Items] | |||
Revenue from service providers | (3,485) | (1,746) | (2,393) |
Instituto Chileno administración empresas | |||
Related Party Disclosures [Line Items] | |||
Revenue from service providers | (134) | (46) | 0 |
Fundación para el desarrollo social | |||
Related Party Disclosures [Line Items] | |||
Revenue from service providers | 0 | (7) | 0 |
Corporación Endeavor Chile | |||
Related Party Disclosures [Line Items] | |||
Revenue from service providers | $ (101) | $ 0 | $ 0 |
Related party disclosures - Tra
Related party disclosures - Trade Receivables Due from Related Parties, Current (Details) $ in Thousands, $ in Thousands | Dec. 31, 2023 USD ($) | Dec. 31, 2023 AUD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2022 AUD ($) |
Related Party Disclosures [Line Items] | ||||
Current receivables due from related parties | $ 43,253 | $ 2,346 | $ 81,622 | $ 0 |
Ajay Europe SARL | ||||
Related Party Disclosures [Line Items] | ||||
Current receivables due from related parties | 8,932 | 7,967 | ||
Ajay North America LL.C. | ||||
Related Party Disclosures [Line Items] | ||||
Current receivables due from related parties | 4,393 | 8,354 | ||
Soc. de Inversiones Pampa Calichera | ||||
Related Party Disclosures [Line Items] | ||||
Current receivables due from related parties | 5 | 5 | ||
SQM Vitas Brasil Agroindustria | ||||
Related Party Disclosures [Line Items] | ||||
Current receivables due from related parties | 0 | 32,054 | ||
SQM Vitas Perú S.A.C. | ||||
Related Party Disclosures [Line Items] | ||||
Current receivables due from related parties | 27,115 | 31,081 | ||
SQM Vitas Fzco. | ||||
Related Party Disclosures [Line Items] | ||||
Current receivables due from related parties | 232 | 232 | ||
Pavoni & C. Spa | ||||
Related Party Disclosures [Line Items] | ||||
Current receivables due from related parties | 2,576 | 888 | ||
Covalent Lithium Pty Ltd. | ||||
Related Party Disclosures [Line Items] | ||||
Current receivables due from related parties | $ 0 | $ 2,346 | $ 1,041 | $ 0 |
Related party disclosures - Nar
Related party disclosures - Narrative (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Related Party Disclosures [Line Items] | ||
Provision for receivables | $ 7,075 | $ 8,815 |
Related parties | ||
Related Party Disclosures [Line Items] | ||
Provision for receivables | $ 800 | $ 1,378 |
Related party disclosures - Oth
Related party disclosures - Other Disclosures (Details) $ in Thousands, $ in Thousands | Dec. 31, 2023 USD ($) | Dec. 31, 2023 AUD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2022 AUD ($) |
Related Party Disclosures [Line Items] | ||||
Current receivables due from related parties | $ 43,253 | $ 2,346 | $ 81,622 | $ 0 |
Covalent Lithium Pty Ltd. | ||||
Related Party Disclosures [Line Items] | ||||
Current receivables due from related parties | $ 0 | $ 2,346 | $ 1,041 | $ 0 |
Financial instruments - Descrip
Financial instruments - Description of Other Financial Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Financial instruments [Line Items] | ||
Other current financial assets | $ 1,325,843 | $ 961,355 |
Other non-current financial assets | 248,281 | 32,126 |
Financial assets at amortized cost | ||
Financial instruments [Line Items] | ||
Other current financial assets | 1,316,797 | 950,167 |
Other non-current financial assets | 20 | 23 |
Financial instruments for hedging purposes | ||
Financial instruments [Line Items] | ||
Other current financial assets | 8,527 | 7,014 |
Other non-current financial assets | 15,993 | 22,606 |
Derivative financial instruments, non-hedging | ||
Financial instruments [Line Items] | ||
Other current financial assets | 519 | 4,174 |
Financial assets at fair value through other comprehensive income | ||
Financial instruments [Line Items] | ||
Other non-current financial assets | $ 232,268 | $ 9,497 |
Financial instruments - Financi
Financial instruments - Financial Assets By Institution (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||
Dec. 31, 2023 | Sep. 30, 2023 | Mar. 31, 2023 | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Financial instruments [Line Items] | ||||||
Other current financial assets | $ 1,325,843 | $ 1,325,843 | $ 961,355 | |||
Acquisition of non-current financial assets | 30,701 | 0 | $ 0 | |||
Azure Minerals Limited | ||||||
Financial instruments [Line Items] | ||||||
Current investments in equity instruments designated at fair value through other comprehensive income | 135,358 | 135,358 | ||||
Term deposit One | ||||||
Financial instruments [Line Items] | ||||||
Collateral guarantees | 5,590 | 5,590 | ||||
Financial assets at amortized cost | ||||||
Financial instruments [Line Items] | ||||||
Other current financial assets | 1,316,797 | 1,316,797 | 950,167 | |||
Financial assets at amortized cost | Banco Crédito e Inversiones | ||||||
Financial instruments [Line Items] | ||||||
Other current financial assets | 74,459 | 74,459 | 187,707 | |||
Financial assets at amortized cost | Banco Morgan Stanley | ||||||
Financial instruments [Line Items] | ||||||
Other current financial assets | 5,590 | 5,590 | 0 | |||
Financial assets at amortized cost | Banco Santander | ||||||
Financial instruments [Line Items] | ||||||
Other current financial assets | 100,083 | 100,083 | 51,444 | |||
Financial assets at amortized cost | Banco Itaú CorpBanca | ||||||
Financial instruments [Line Items] | ||||||
Other current financial assets | 372,061 | 372,061 | 15,048 | |||
Financial assets at amortized cost | Banco Estado | ||||||
Financial instruments [Line Items] | ||||||
Other current financial assets | 0 | 0 | 85,055 | |||
Financial assets at amortized cost | Banco de Chile | ||||||
Financial instruments [Line Items] | ||||||
Other current financial assets | 0 | 0 | 150,259 | |||
Financial assets at amortized cost | Scotiabank Sud Americano | ||||||
Financial instruments [Line Items] | ||||||
Other current financial assets | 672,720 | 672,720 | 250,362 | |||
Financial assets at amortized cost | Sumitomo Mitsui Banking | ||||||
Financial instruments [Line Items] | ||||||
Other current financial assets | 91,884 | $ 91,884 | $ 210,292 | |||
Financial assets at fair value through other comprehensive income | Azure Minerals Limited | ||||||
Financial instruments [Line Items] | ||||||
Acquisition of non-current financial assets | $ 4,317 | $ 12,904 | $ 13,480 | |||
Financial asset, ownership interest percentage | 19.99% | |||||
Acquisition agreement, right to acquire products, percentage | 25% |
Financial instruments - Trade a
Financial instruments - Trade and Other Receivables (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Financial instruments [Line Items] | ||
Trade and other current receivables | $ 907,181 | $ 1,087,420 |
Non-current trade receivables | 2,559 | 2,091 |
Trade and other non-current receivables | 2,559 | 2,091 |
Trade and other receivables | 909,740 | 1,089,511 |
Trade and other receivables | ||
Financial instruments [Line Items] | ||
Current trade receivables | 784,422 | 1,002,223 |
Current prepayments | 74,630 | 38,709 |
Other current receivables | 18,163 | 16,648 |
Guarantee deposits, current | 29,966 | 29,840 |
Non-current trade receivables | 0 | 0 |
Non-current prepayments | 0 | 0 |
Other non-current receivables | 2,559 | 2,091 |
Guarantee deposits, non-current | 0 | 0 |
Trade receivables | 784,422 | 1,002,223 |
Prepayments | 74,630 | 38,709 |
Other Receivables | 20,722 | 18,739 |
Guarantee deposits | $ 29,966 | $ 29,840 |
Financial instruments - Trade_2
Financial instruments - Trade and Other Receivables Reconciliation (Details) | 3 Months Ended | ||
Sep. 30, 2023 USD ($) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | |
Financial instruments [Line Items] | |||
Gross receivables | $ 916,815,000 | $ 1,098,326,000 | |
Impairment provision for doubtful receivables | (7,075,000) | (8,815,000) | |
Trade and other receivables | 909,740,000 | 1,089,511,000 | |
Battery-Grade Lithium Hydroxide Monohydrate Plant | |||
Financial instruments [Line Items] | |||
Production capacity, metric tons | 20,000 | ||
Receivables related to credit operations, current | |||
Financial instruments [Line Items] | |||
Gross receivables | 787,667,000 | 1,006,982,000 | |
Impairment provision for doubtful receivables | (3,245,000) | (4,759,000) | |
Trade and other receivables | 784,422,000 | 1,002,223,000 | |
Prepayments, current | |||
Financial instruments [Line Items] | |||
Gross receivables | 75,414,000 | 39,493,000 | |
Impairment provision for doubtful receivables | (784,000) | (784,000) | |
Trade and other receivables | 74,630,000 | 38,709,000 | |
Other receivables, current | |||
Financial instruments [Line Items] | |||
Gross receivables | 21,209,000 | 19,920,000 | |
Impairment provision for doubtful receivables | (3,046,000) | (3,272,000) | |
Trade and other receivables | 18,163,000 | 16,648,000 | |
Guarantee deposits | |||
Financial instruments [Line Items] | |||
Gross receivables | 29,966,000 | 29,840,000 | |
Impairment provision for doubtful receivables | 0 | 0 | |
Trade and other receivables | 29,966,000 | 29,840,000 | |
Other receivables, non-current | |||
Financial instruments [Line Items] | |||
Gross receivables | 2,559,000 | 2,091,000 | |
Impairment provision for doubtful receivables | 0 | 0 | |
Trade and other receivables | $ 2,559,000 | $ 2,091,000 |
Financial instruments - Narrati
Financial instruments - Narrative (Details) $ in Thousands, ¥ in Millions | 3 Months Ended | 12 Months Ended | ||||
Aug. 18, 2023 USD ($) | Mar. 31, 2023 USD ($) | Mar. 31, 2023 CNY (¥) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | |
Financial instruments [Line Items] | ||||||
Payments to acquire new plant | $ 1,103,598 | $ 905,247 | $ 464,718 | |||
Percentage of trade and other receivables due from renegotiated portfolio | 0 | 0 | ||||
Effect on profit or loss for the period derivative instruments | $ (7,666) | $ 25,714 | ||||
Outstanding purchase commitments | $ 296,598 | $ 191,319 | ||||
Series Q bonds | ||||||
Financial instruments [Line Items] | ||||||
Effect on profit or loss for the period derivative instruments | $ 16,440 | |||||
Proceeds received related to hedging items | $ 17,320 | |||||
Battery-Grade Lithium Hydroxide Monohydrate Plant | ||||||
Financial instruments [Line Items] | ||||||
Payments to acquire new plant | $ 119,575 | ¥ 869 | ||||
Battery-Grade Lithium Hydroxide Monohydrate Plant | First installment | ||||||
Financial instruments [Line Items] | ||||||
Payments to acquire new plant | $ 29,322 | ¥ 204.5 |
Financial instruments - Renegot
Financial instruments - Renegotiated Portfolio and Impairment Provision for Doubtful Receivables (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Financial instruments [Line Items] | ||
Total Gross Book Value | $ 907,181 | $ 1,087,420 |
Trade receivables due from related parties | ||
Financial instruments [Line Items] | ||
Total Gross Book Value | 44,053 | 83,000 |
Impairment Estimate | $ 800 | $ 1,378 |
Current | ||
Financial instruments [Line Items] | ||
Expected Loss Rate on | 0% | 0% |
Total Gross Book Value | $ 758,781 | $ 968,129 |
Impairment Estimate | $ 1,007 | $ 948 |
1 to 30 days | ||
Financial instruments [Line Items] | ||
Expected Loss Rate on | 2% | 1% |
Total Gross Book Value | $ 18,732 | $ 30,187 |
Impairment Estimate | $ 422 | $ 391 |
31 to 60 days | ||
Financial instruments [Line Items] | ||
Expected Loss Rate on | 7% | 7% |
Total Gross Book Value | $ 2,684 | $ 1,457 |
Impairment Estimate | $ 197 | $ 108 |
61 to 90 days | ||
Financial instruments [Line Items] | ||
Expected Loss Rate on | 2% | 6% |
Total Gross Book Value | $ 3,509 | $ 3,336 |
Impairment Estimate | $ 67 | $ 186 |
Over 90 days | ||
Financial instruments [Line Items] | ||
Expected Loss Rate on | 39% | 81% |
Total Gross Book Value | $ 3,961 | $ 3,873 |
Impairment Estimate | 1,552 | 3,126 |
Trade | ||
Financial instruments [Line Items] | ||
Total Gross Book Value | 787,667 | 1,006,982 |
Impairment Estimate | $ 3,245 | $ 4,759 |
Financial instruments - Movemen
Financial instruments - Movements in Provisions (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of detailed information about financial instruments [abstract] | |||
Impairment provision of accounts receivable at the beginning of the year | $ 10,193 | $ 14,716 | $ 27,273 |
Increase (decrease) impairment of accounts receivable | (202) | (3,369) | 235 |
Write-off of receivables | (1,351) | 0 | (11,091) |
Difference in exchange rate | (765) | (1,154) | (1,701) |
Impairment provision of Accounts Receivable Provision at the end of the year | 7,875 | 10,193 | 14,716 |
Trade and other Receivables Provision | 3,245 | 4,759 | 10,352 |
Current other Receivables Provision | 3,830 | 4,056 | 3,647 |
Trade receivables with related parties, current Provision | 800 | 1,378 | 717 |
Recovery of Insurrance | 0 | 0 | 210 |
Impairment provision of Accounts Receivable | $ 7,875 | $ 10,193 | $ 14,716 |
Financial instruments - Derivat
Financial instruments - Derivative Financial Instruments (Hedges) Measured at Fair Value (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Aug. 18, 2023 | Dec. 31, 2023 | Dec. 31, 2022 | |
Financial instruments [Line Items] | |||
Hedging assets | $ 25,039 | $ 33,794 | |
Hedging liabilities | 53,657 | 68,342 | |
Effect on profit or loss for the period derivative instruments | (7,666) | 25,714 | |
Hedging reserve in equity before tax | (1,275) | (19,967) | |
Series Q bonds | |||
Financial instruments [Line Items] | |||
Effect on profit or loss for the period derivative instruments | $ 16,440 | ||
Debt | Cross currency swap contracts | |||
Financial instruments [Line Items] | |||
Hedging assets | 23,031 | 22,481 | |
Hedging liabilities | 38,810 | 62,526 | |
Effect on profit or loss for the period derivative instruments | (13,067) | (12,939) | |
Hedging reserve in equity before tax | (2,712) | (27,106) | |
Debt | Cross currency swap contracts | Short term | |||
Financial instruments [Line Items] | |||
Hedging assets | 7,038 | 7,014 | |
Hedging liabilities | 30,442 | 42,754 | |
Effect on profit or loss for the period derivative instruments | 0 | 0 | |
Hedging reserve in equity before tax | 0 | 0 | |
Debt | Cross currency swap contracts | Long term | |||
Financial instruments [Line Items] | |||
Hedging assets | 15,993 | 15,467 | |
Hedging liabilities | 8,368 | 19,772 | |
Effect on profit or loss for the period derivative instruments | 0 | 0 | |
Hedging reserve in equity before tax | 0 | 0 | |
Investment | |||
Financial instruments [Line Items] | |||
Hedging assets | 24,520 | 29,620 | |
Hedging liabilities | 38,862 | 62,526 | |
Effect on profit or loss for the period derivative instruments | (13,067) | (12,939) | |
Hedging reserve in equity before tax | (1,275) | (19,967) | |
Investment | Forward contract | |||
Financial instruments [Line Items] | |||
Hedging assets | 1,489 | 7,139 | |
Hedging liabilities | 52 | 0 | |
Effect on profit or loss for the period derivative instruments | 0 | 0 | |
Hedging reserve in equity before tax | 1,437 | 7,139 | |
Investment | Forward contract | Short term | |||
Financial instruments [Line Items] | |||
Hedging assets | 1,489 | ||
Hedging liabilities | 0 | ||
Effect on profit or loss for the period derivative instruments | 0 | ||
Hedging reserve in equity before tax | 0 | ||
Investment | Forward contract | Long term | |||
Financial instruments [Line Items] | |||
Hedging assets | 0 | 7,139 | |
Hedging liabilities | 52 | 0 | |
Effect on profit or loss for the period derivative instruments | 0 | 0 | |
Hedging reserve in equity before tax | 1,437 | 7,139 | |
Investment | Option contract | |||
Financial instruments [Line Items] | |||
Hedging assets | 519 | 4,174 | |
Hedging liabilities | 14,795 | 5,816 | |
Effect on profit or loss for the period derivative instruments | 5,401 | 38,653 | |
Hedging reserve in equity before tax | 0 | 0 | |
Investment | Option contract | Short term | |||
Financial instruments [Line Items] | |||
Hedging assets | 519 | 4,174 | |
Hedging liabilities | 14,795 | 5,816 | |
Effect on profit or loss for the period derivative instruments | 0 | 0 | |
Hedging reserve in equity before tax | $ 0 | $ 0 |
Financial instruments - Reconci
Financial instruments - Reconciliation of Asset and Liability Hedging Derivatives (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Hedge-to-debt derivatives | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Hedging derivative, beginning balance | $ (10,061) | $ (81,597) |
Hedging derivative, ending balance | 2,520 | (10,061) |
Hedging derivatives to investment | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Hedging derivative, beginning balance | (29,984) | 12,613 |
Hedging derivative, ending balance | (18,300) | (29,984) |
Non-hedging derivatives disbursement SQM Australia Pty asset | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Hedging derivative, beginning balance | 7,139 | 0 |
Hedging derivative, ending balance | 1,437 | 7,139 |
Non-hedging derivatives | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Hedging derivative, beginning balance | (1,642) | (418) |
Hedging derivative, ending balance | (14,275) | (1,642) |
Cash Flow | Hedge-to-debt derivatives | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Gain (loss) on hedging derivatives | (14,850) | 8,616 |
Cash Flow | Hedging derivatives to investment | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Gain (loss) on hedging derivatives | (10,082) | (52,698) |
Cash Flow | Non-hedging derivatives disbursement SQM Australia Pty asset | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Gain (loss) on hedging derivatives | 1,183 | 2,022 |
Cash Flow | Non-hedging derivatives | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Gain (loss) on hedging derivatives | (18,034) | (39,878) |
Income Statement | Hedge-to-debt derivatives | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Gain (loss) on hedging derivatives | 6,631 | 37,494 |
Income Statement | Hedging derivatives to investment | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Gain (loss) on hedging derivatives | 18,171 | 16,104 |
Income Statement | Non-hedging derivatives disbursement SQM Australia Pty asset | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Gain (loss) on hedging derivatives | (1,183) | 0 |
Income Statement | Non-hedging derivatives | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Gain (loss) on hedging derivatives | 5,401 | 38,653 |
Equity and Others | Hedge-to-debt derivatives | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Gain (loss) on hedging derivatives | 20,800 | 25,426 |
Equity and Others | Hedging derivatives to investment | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Gain (loss) on hedging derivatives | 3,595 | (6,003) |
Equity and Others | Non-hedging derivatives disbursement SQM Australia Pty asset | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Gain (loss) on hedging derivatives | (5,702) | 5,117 |
Equity and Others | Non-hedging derivatives | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Gain (loss) on hedging derivatives | $ 0 | $ 0 |
Financial instruments - Deriv_2
Financial instruments - Derivative Contract Maturities (Details) $ in Thousands | Dec. 31, 2023 USD ($) |
Series H bonds | |
Financial instruments [Line Items] | |
Contract amount | $ 91,718 |
Series O bonds | |
Financial instruments [Line Items] | |
Contract amount | 58,748 |
Series P bonds | |
Financial instruments [Line Items] | |
Contract amount | 134,228 |
Series Q bonds | |
Financial instruments [Line Items] | |
Contract amount | $ 123,370 |
Financial instruments - Other C
Financial instruments - Other Current and Non-Current Financial Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Financial instruments [Line Items] | ||
Other current financial liabilities | $ 1,256,499 | $ 522,999 |
Other non-current financial liabilities | 3,213,422 | 2,394,218 |
Total | 4,469,921 | 2,917,217 |
Bank borrowings | Liabilities at amortized cost | ||
Financial instruments [Line Items] | ||
Other current financial liabilities | 1,164,262 | 130,840 |
Other non-current financial liabilities | 295,518 | 197,522 |
Total | 1,459,780 | 328,362 |
Unsecured obligations | Liabilities at amortized cost | ||
Financial instruments [Line Items] | ||
Other current financial liabilities | 46,999 | 343,589 |
Other non-current financial liabilities | 2,909,485 | 2,176,924 |
Total | 2,956,484 | 2,520,513 |
For hedging | Derivative financial instruments | ||
Financial instruments [Line Items] | ||
Other current financial liabilities | 30,443 | 42,754 |
Other non-current financial liabilities | 8,419 | 19,772 |
Total | 38,862 | 62,526 |
Non-Hedging | Derivative financial instruments | ||
Financial instruments [Line Items] | ||
Other current financial liabilities | 14,795 | 5,816 |
Other non-current financial liabilities | 0 | 0 |
Total | $ 14,795 | $ 5,816 |
Financial instruments - Bank Bo
Financial instruments - Bank Borrowings, Current (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Financial instruments [Line Items] | ||
Notional amount | $ 50,707 | $ 345,949 |
Borrowing costs | (3,708) | (2,360) |
Bank borrowings | ||
Financial instruments [Line Items] | ||
Notional amount | 1,130,000 | 130,000 |
Current amounts | 1,164,262 | 130,989 |
Borrowing costs | 0 | (149) |
Total | 1,164,262 | 130,840 |
Bank borrowings | Up to 90 days | ||
Financial instruments [Line Items] | ||
Notional amount | 15,000 | 60,000 |
Current amounts | 15,569 | 60,596 |
Bank borrowings | 90 days to 1 year | ||
Financial instruments [Line Items] | ||
Notional amount | 1,115,000 | 70,000 |
Current amounts | $ 1,148,693 | $ 70,393 |
Bank of Nova Scotia | ||
Financial instruments [Line Items] | ||
Effective rate | 5.88% | |
Nominal rate | 6.64% | |
Bank of Nova Scotia | Bank borrowings | ||
Financial instruments [Line Items] | ||
Notional amount | $ 0 | |
Current amounts | 406 | |
Borrowing costs | 0 | |
Total | $ 406 | |
Bank of Nova Scotia | Bank borrowings | June 21, 2024 | ||
Financial instruments [Line Items] | ||
Effective rate | 5.88% | |
Nominal rate | 6.64% | |
Bank of Nova Scotia | Bank borrowings | Up to 90 days | ||
Financial instruments [Line Items] | ||
Notional amount | $ 0 | |
Current amounts | 0 | |
Bank of Nova Scotia | Bank borrowings | 90 days to 1 year | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | |
Current amounts | $ 406 | |
Banco Santander/Kexim | ||
Financial instruments [Line Items] | ||
Effective rate | 5.49% | |
Nominal rate | 6.36% | |
Banco Santander/Kexim | Bank borrowings | ||
Financial instruments [Line Items] | ||
Notional amount | $ 0 | |
Current amounts | 177 | |
Borrowing costs | 0 | |
Total | $ 177 | |
Banco Santander/Kexim | Bank borrowings | June 21, 2024 | ||
Financial instruments [Line Items] | ||
Effective rate | 4.49% | |
Nominal rate | 6.36% | |
Banco Santander/Kexim | Bank borrowings | Up to 90 days | ||
Financial instruments [Line Items] | ||
Notional amount | $ 0 | |
Current amounts | 0 | |
Banco Santander/Kexim | Bank borrowings | 90 days to 1 year | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | |
Current amounts | $ 177 | |
JP Morgan | Bank borrowings | May 28, 2024 | ||
Financial instruments [Line Items] | ||
Effective rate | 6.69% | |
Nominal rate | 6.69% | |
Banco Santander 1 | Bank borrowings | ||
Financial instruments [Line Items] | ||
Notional amount | $ 120,000 | |
Current amounts | 124,383 | |
Borrowing costs | 0 | |
Total | $ 124,383 | |
Banco Santander 1 | Bank borrowings | May 17, 2024 | ||
Financial instruments [Line Items] | ||
Effective rate | 5.95% | |
Nominal rate | 5.95% | |
Banco Santander 1 | Bank borrowings | Up to 90 days | ||
Financial instruments [Line Items] | ||
Notional amount | $ 0 | |
Current amounts | 0 | |
Banco Santander 1 | Bank borrowings | 90 days to 1 year | ||
Financial instruments [Line Items] | ||
Notional amount | 120,000 | |
Current amounts | 124,383 | |
Banco Santander 2 | Bank borrowings | ||
Financial instruments [Line Items] | ||
Notional amount | 200,000 | |
Current amounts | 204,625 | |
Borrowing costs | 0 | |
Total | $ 204,625 | |
Banco Santander 2 | Bank borrowings | August 26, 2024 | ||
Financial instruments [Line Items] | ||
Effective rate | 6.88% | |
Nominal rate | 6.88% | |
Banco Santander 2 | Bank borrowings | Up to 90 days | ||
Financial instruments [Line Items] | ||
Notional amount | $ 0 | |
Current amounts | 0 | |
Banco Santander 2 | Bank borrowings | 90 days to 1 year | ||
Financial instruments [Line Items] | ||
Notional amount | 200,000 | |
Current amounts | 204,625 | |
Scotiabank Chile 1 | Bank borrowings | ||
Financial instruments [Line Items] | ||
Notional amount | 25,000 | |
Current amounts | 25,898 | |
Borrowing costs | 0 | |
Total | $ 25,898 | |
Scotiabank Chile 1 | Bank borrowings | May 30, 2024 | ||
Financial instruments [Line Items] | ||
Effective rate | 6.19% | |
Nominal rate | 6.19% | |
Scotiabank Chile 1 | Bank borrowings | Up to 90 days | ||
Financial instruments [Line Items] | ||
Notional amount | $ 0 | |
Current amounts | 0 | |
Scotiabank Chile 1 | Bank borrowings | 90 days to 1 year | ||
Financial instruments [Line Items] | ||
Notional amount | 25,000 | |
Current amounts | 25,898 | |
Banco Estado 1 | Bank borrowings | ||
Financial instruments [Line Items] | ||
Notional amount | 15,000 | |
Current amounts | 15,569 | |
Borrowing costs | 0 | |
Total | $ 15,569 | |
Banco Estado 1 | Bank borrowings | February 20, 2024 | ||
Financial instruments [Line Items] | ||
Effective rate | 6.18% | |
Nominal rate | 6.18% | |
Banco Estado 1 | Bank borrowings | Up to 90 days | ||
Financial instruments [Line Items] | ||
Notional amount | $ 15,000 | |
Current amounts | 15,569 | |
Banco Estado 1 | Bank borrowings | 90 days to 1 year | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | |
Current amounts | 0 | |
Banco Estado 2 | Bank borrowings | ||
Financial instruments [Line Items] | ||
Notional amount | 20,000 | |
Current amounts | 20,695 | |
Borrowing costs | 0 | |
Total | $ 20,695 | |
Banco Estado 2 | Bank borrowings | June 10, 2024 | ||
Financial instruments [Line Items] | ||
Effective rate | 6.19% | |
Nominal rate | 6.19% | |
Banco Estado 2 | Bank borrowings | Up to 90 days | ||
Financial instruments [Line Items] | ||
Notional amount | $ 0 | |
Current amounts | 0 | |
Banco Estado 2 | Bank borrowings | 90 days to 1 year | ||
Financial instruments [Line Items] | ||
Notional amount | 20,000 | |
Current amounts | 20,695 | |
BCI 1 | Bank borrowings | ||
Financial instruments [Line Items] | ||
Notional amount | 100,000 | |
Current amounts | 104,176 | |
Borrowing costs | 0 | |
Total | $ 104,176 | |
BCI 1 | Bank borrowings | April 18, 2024 | ||
Financial instruments [Line Items] | ||
Effective rate | 6.01% | |
Nominal rate | 6.01% | |
BCI 1 | Bank borrowings | Up to 90 days | ||
Financial instruments [Line Items] | ||
Notional amount | $ 0 | |
Current amounts | 0 | |
BCI 1 | Bank borrowings | 90 days to 1 year | ||
Financial instruments [Line Items] | ||
Notional amount | 100,000 | |
Current amounts | 104,176 | |
BCI 2 | Bank borrowings | ||
Financial instruments [Line Items] | ||
Notional amount | 100,000 | |
Current amounts | 101,238 | |
Borrowing costs | 0 | |
Total | $ 101,238 | |
BCI 2 | Bank borrowings | October 17, 2024 | ||
Financial instruments [Line Items] | ||
Effective rate | 5.84% | |
Nominal rate | 6.46% | |
BCI 2 | Bank borrowings | Up to 90 days | ||
Financial instruments [Line Items] | ||
Notional amount | $ 0 | |
Current amounts | 0 | |
BCI 2 | Bank borrowings | 90 days to 1 year | ||
Financial instruments [Line Items] | ||
Notional amount | 100,000 | |
Current amounts | 101,238 | |
BCI 3 | Bank borrowings | ||
Financial instruments [Line Items] | ||
Notional amount | 50,000 | |
Current amounts | 51,825 | |
Borrowing costs | 0 | |
Total | $ 51,825 | |
BCI 3 | Bank borrowings | May 24, 2024 | ||
Financial instruments [Line Items] | ||
Effective rate | 6.17% | |
Nominal rate | 6.17% | |
BCI 3 | Bank borrowings | Up to 90 days | ||
Financial instruments [Line Items] | ||
Notional amount | $ 0 | |
Current amounts | 0 | |
BCI 3 | Bank borrowings | 90 days to 1 year | ||
Financial instruments [Line Items] | ||
Notional amount | 50,000 | |
Current amounts | 51,825 | |
Banco Itau 1 | Bank borrowings | ||
Financial instruments [Line Items] | ||
Notional amount | 10,000 | |
Current amounts | 10,309 | |
Borrowing costs | 0 | |
Total | $ 10,309 | |
Banco Itau 1 | Bank borrowings | July 5, 2024 | ||
Financial instruments [Line Items] | ||
Effective rate | 6.50% | |
Nominal rate | 6.50% | |
Banco Itau 1 | Bank borrowings | Up to 90 days | ||
Financial instruments [Line Items] | ||
Notional amount | $ 0 | |
Current amounts | 0 | |
Banco Itau 1 | Bank borrowings | 90 days to 1 year | ||
Financial instruments [Line Items] | ||
Notional amount | 10,000 | |
Current amounts | 10,309 | |
Banco de Chile 1 | Bank borrowings | ||
Financial instruments [Line Items] | ||
Notional amount | 30,000 | |
Current amounts | 31,077 | |
Borrowing costs | 0 | |
Total | $ 31,077 | |
Banco de Chile 1 | Bank borrowings | May 16, 2024 | ||
Financial instruments [Line Items] | ||
Effective rate | 5.85% | |
Nominal rate | 5.85% | |
Banco de Chile 1 | Bank borrowings | Up to 90 days | ||
Financial instruments [Line Items] | ||
Notional amount | $ 0 | |
Current amounts | 0 | |
Banco de Chile 1 | Bank borrowings | 90 days to 1 year | ||
Financial instruments [Line Items] | ||
Notional amount | 30,000 | |
Current amounts | 31,077 | |
Banco Itau 2 | Bank borrowings | ||
Financial instruments [Line Items] | ||
Notional amount | 20,000 | |
Current amounts | 20,618 | |
Borrowing costs | 0 | |
Total | $ 20,618 | |
Banco Itau 2 | Bank borrowings | July 5, 2024 | ||
Financial instruments [Line Items] | ||
Effective rate | 6.50% | |
Nominal rate | 6.50% | |
Banco Itau 2 | Bank borrowings | Up to 90 days | ||
Financial instruments [Line Items] | ||
Notional amount | $ 0 | |
Current amounts | 0 | |
Banco Itau 2 | Bank borrowings | 90 days to 1 year | ||
Financial instruments [Line Items] | ||
Notional amount | 20,000 | |
Current amounts | 20,618 | |
Banco Itau 3 | Bank borrowings | ||
Financial instruments [Line Items] | ||
Notional amount | 10,000 | |
Current amounts | 10,311 | |
Borrowing costs | 0 | |
Total | $ 10,311 | |
Banco Itau 3 | Bank borrowings | July 5, 2024 | ||
Financial instruments [Line Items] | ||
Effective rate | 6.50% | |
Nominal rate | 6.50% | |
Banco Itau 3 | Bank borrowings | Up to 90 days | ||
Financial instruments [Line Items] | ||
Notional amount | $ 0 | |
Current amounts | 0 | |
Banco Itau 3 | Bank borrowings | 90 days to 1 year | ||
Financial instruments [Line Items] | ||
Notional amount | 10,000 | |
Current amounts | 10,311 | |
Banco Itau 4 | Bank borrowings | ||
Financial instruments [Line Items] | ||
Notional amount | 20,000 | |
Current amounts | 20,618 | |
Borrowing costs | 0 | |
Total | $ 20,618 | |
Banco Itau 4 | Bank borrowings | July 5, 2024 | ||
Financial instruments [Line Items] | ||
Effective rate | 6.50% | |
Nominal rate | 6.50% | |
Banco Itau 4 | Bank borrowings | Up to 90 days | ||
Financial instruments [Line Items] | ||
Notional amount | $ 0 | |
Current amounts | 0 | |
Banco Itau 4 | Bank borrowings | 90 days to 1 year | ||
Financial instruments [Line Items] | ||
Notional amount | 20,000 | |
Current amounts | 20,618 | |
Scotiabank Chile 2 | Bank borrowings | ||
Financial instruments [Line Items] | ||
Notional amount | 50,000 | |
Current amounts | 51,864 | |
Borrowing costs | 0 | |
Total | $ 51,864 | |
Scotiabank Chile 2 | Bank borrowings | May 17, 2024 | ||
Financial instruments [Line Items] | ||
Effective rate | 6.07% | |
Nominal rate | 6.07% | |
Scotiabank Chile 2 | Bank borrowings | Up to 90 days | ||
Financial instruments [Line Items] | ||
Notional amount | $ 0 | |
Current amounts | 0 | |
Scotiabank Chile 2 | Bank borrowings | 90 days to 1 year | ||
Financial instruments [Line Items] | ||
Notional amount | 50,000 | |
Current amounts | 51,864 | |
Scotiabank Chile 3 | Bank borrowings | ||
Financial instruments [Line Items] | ||
Notional amount | 50,000 | |
Current amounts | 51,797 | |
Borrowing costs | 0 | |
Total | $ 51,797 | |
Scotiabank Chile 3 | Bank borrowings | May 30, 2024 | ||
Financial instruments [Line Items] | ||
Effective rate | 6.19% | |
Nominal rate | 6.19% | |
Scotiabank Chile 3 | Bank borrowings | Up to 90 days | ||
Financial instruments [Line Items] | ||
Notional amount | $ 0 | |
Current amounts | 0 | |
Scotiabank Chile 3 | Bank borrowings | 90 days to 1 year | ||
Financial instruments [Line Items] | ||
Notional amount | 50,000 | |
Current amounts | 51,797 | |
Banco Estado 3 | Bank borrowings | ||
Financial instruments [Line Items] | ||
Notional amount | 70,000 | |
Current amounts | 71,913 | |
Borrowing costs | 0 | |
Total | $ 71,913 | |
Banco Estado 3 | Bank borrowings | July 18, 2024 | ||
Financial instruments [Line Items] | ||
Effective rate | 5.92% | |
Nominal rate | 6.15% | |
Banco Estado 3 | Bank borrowings | Up to 90 days | ||
Financial instruments [Line Items] | ||
Notional amount | $ 0 | |
Current amounts | 0 | |
Banco Estado 3 | Bank borrowings | 90 days to 1 year | ||
Financial instruments [Line Items] | ||
Notional amount | 70,000 | |
Current amounts | 71,913 | |
Banco Estado 4 | Bank borrowings | ||
Financial instruments [Line Items] | ||
Notional amount | 80,000 | |
Current amounts | 82,779 | |
Borrowing costs | 0 | |
Total | $ 82,779 | |
Banco Estado 4 | Bank borrowings | June 10, 2024 | ||
Financial instruments [Line Items] | ||
Effective rate | 6.19% | |
Nominal rate | 6.19% | |
Banco Estado 4 | Bank borrowings | Up to 90 days | ||
Financial instruments [Line Items] | ||
Notional amount | $ 0 | |
Current amounts | 0 | |
Banco Estado 4 | Bank borrowings | 90 days to 1 year | ||
Financial instruments [Line Items] | ||
Notional amount | 80,000 | |
Current amounts | 82,779 | |
Banco de Chile 2 | Bank borrowings | ||
Financial instruments [Line Items] | ||
Notional amount | 40,000 | |
Current amounts | 41,436 | |
Borrowing costs | 0 | |
Total | $ 41,436 | |
Banco de Chile 2 | Bank borrowings | May 16, 2024 | ||
Financial instruments [Line Items] | ||
Effective rate | 5.85% | |
Nominal rate | 5.85% | |
Banco de Chile 2 | Bank borrowings | Up to 90 days | ||
Financial instruments [Line Items] | ||
Notional amount | $ 0 | |
Current amounts | 0 | |
Banco de Chile 2 | Bank borrowings | 90 days to 1 year | ||
Financial instruments [Line Items] | ||
Notional amount | 40,000 | |
Current amounts | 41,436 | |
Banco de Chile 3 | Bank borrowings | ||
Financial instruments [Line Items] | ||
Notional amount | 70,000 | |
Current amounts | 72,260 | |
Borrowing costs | 0 | |
Total | $ 72,260 | |
Banco de Chile 3 | Bank borrowings | June 21, 2024 | ||
Financial instruments [Line Items] | ||
Effective rate | 6.25% | |
Nominal rate | 6.25% | |
Banco de Chile 3 | Bank borrowings | Up to 90 days | ||
Financial instruments [Line Items] | ||
Notional amount | $ 0 | |
Current amounts | 0 | |
Banco de Chile 3 | Bank borrowings | 90 days to 1 year | ||
Financial instruments [Line Items] | ||
Notional amount | 70,000 | |
Current amounts | 72,260 | |
Scotiabank Cayman | ||
Financial instruments [Line Items] | ||
Effective rate | 2.33% | |
Nominal rate | 3.19% | |
Scotiabank Cayman | Bank borrowings | ||
Financial instruments [Line Items] | ||
Notional amount | $ 70,000 | |
Current amounts | 70,393 | |
Borrowing costs | (149) | |
Total | $ 70,244 | |
Scotiabank Cayman | Bank borrowings | May 30, 2023 | ||
Financial instruments [Line Items] | ||
Effective rate | 0.97% | |
Nominal rate | 5.22% | |
Scotiabank Cayman | Bank borrowings | Up to 90 days | ||
Financial instruments [Line Items] | ||
Notional amount | $ 0 | |
Current amounts | 0 | |
Scotiabank Cayman | Bank borrowings | 90 days to 1 year | ||
Financial instruments [Line Items] | ||
Notional amount | 70,000 | |
Current amounts | 70,393 | |
Banco Itau | Bank borrowings | ||
Financial instruments [Line Items] | ||
Notional amount | 20,000 | |
Current amounts | 20,062 | |
Borrowing costs | 0 | |
Total | $ 20,062 | |
Banco Itau | Bank borrowings | January 5, 2023 | ||
Financial instruments [Line Items] | ||
Effective rate | 4.50% | |
Nominal rate | 4.50% | |
Banco Itau | Bank borrowings | Up to 90 days | ||
Financial instruments [Line Items] | ||
Notional amount | $ 20,000 | |
Current amounts | 20,062 | |
Banco Itau | Bank borrowings | 90 days to 1 year | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | |
Current amounts | 0 | |
Banco Estado | Bank borrowings | ||
Financial instruments [Line Items] | ||
Notional amount | 40,000 | |
Current amounts | 40,128 | |
Borrowing costs | 0 | |
Total | $ 40,128 | |
Banco Estado | Bank borrowings | January 5, 2023 | ||
Financial instruments [Line Items] | ||
Effective rate | 4.59% | |
Nominal rate | 4.59% | |
Banco Estado | Bank borrowings | Up to 90 days | ||
Financial instruments [Line Items] | ||
Notional amount | $ 40,000 | |
Current amounts | 40,128 | |
Banco Estado | Bank borrowings | 90 days to 1 year | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | |
Current amounts | $ 0 | |
Banco JP Morgan | Bank borrowings | ||
Financial instruments [Line Items] | ||
Notional amount | 50,000 | |
Current amounts | 50,288 | |
Borrowing costs | 0 | |
Total | 50,288 | |
Banco JP Morgan | Bank borrowings | Up to 90 days | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | |
Current amounts | 0 | |
Banco JP Morgan | Bank borrowings | 90 days to 1 year | ||
Financial instruments [Line Items] | ||
Notional amount | 50,000 | |
Current amounts | $ 50,288 | |
Scotiabank | ||
Financial instruments [Line Items] | ||
Effective rate | 5.10% | |
Nominal rate | 6.08% | |
Scotiabank | Bank borrowings | ||
Financial instruments [Line Items] | ||
Notional amount | $ 0 | |
Current amounts | 406 | |
Borrowing costs | 0 | |
Total | 406 | |
Scotiabank | Bank borrowings | Up to 90 days | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | |
Current amounts | 406 | |
Scotiabank | Bank borrowings | 90 days to 1 year | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | |
Current amounts | $ 0 |
Financial instruments - Unsecur
Financial instruments - Unsecured Obligations, Current (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Financial instruments [Line Items] | ||
Notional amount | $ 50,707 | $ 345,949 |
Current maturities | 50,707 | 345,949 |
Borrowing costs | (3,708) | (2,360) |
Total | 46,999 | 343,589 |
Up to 90 days | ||
Financial instruments [Line Items] | ||
Notional amount | 40,167 | 32,517 |
Current maturities | 40,167 | 32,517 |
90 days to 1 year | ||
Financial instruments [Line Items] | ||
Notional amount | 10,540 | 313,432 |
Current maturities | $ 10,540 | $ 313,432 |
Single Series Bond One | ||
Financial instruments [Line Items] | ||
Effective rate | 0.80% | 1.17% |
Nominal rate | 4.38% | 4.38% |
Notional amount | $ 4,648 | $ 4,648 |
Current maturities | 4,648 | 4,648 |
Borrowing costs | (433) | (433) |
Total | 4,215 | 4,215 |
Single Series Bond One | Up to 90 days | ||
Financial instruments [Line Items] | ||
Notional amount | 4,648 | 4,648 |
Current maturities | 4,648 | 4,648 |
Single Series Bond One | 90 days to 1 year | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | 0 |
Current maturities | $ 0 | $ 0 |
Single Series Bond Two | ||
Financial instruments [Line Items] | ||
Effective rate | 2.39% | 0.56% |
Nominal rate | 4.25% | 3.63% |
Notional amount | $ 2,869 | $ 302,658 |
Current maturities | 2,869 | 302,658 |
Borrowing costs | (677) | (170) |
Total | 2,192 | 302,488 |
Single Series Bond Two | Up to 90 days | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | 0 |
Current maturities | 0 | 0 |
Single Series Bond Two | 90 days to 1 year | ||
Financial instruments [Line Items] | ||
Notional amount | 2,869 | 302,658 |
Current maturities | $ 2,869 | $ 302,658 |
Single Series Bond Three | ||
Financial instruments [Line Items] | ||
Effective rate | 3.62% | 3.01% |
Nominal rate | 4.25% | 4.25% |
Notional amount | $ 7,508 | $ 2,869 |
Current maturities | 7,508 | 2,869 |
Borrowing costs | (235) | (679) |
Total | 7,273 | 2,190 |
Single Series Bond Three | Up to 90 days | ||
Financial instruments [Line Items] | ||
Notional amount | 7,508 | 0 |
Current maturities | 7,508 | 0 |
Single Series Bond Three | 90 days to 1 year | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | 2,869 |
Current maturities | $ 0 | $ 2,869 |
Single Series Bond Four | ||
Financial instruments [Line Items] | ||
Effective rate | 3.30% | 3.79% |
Nominal rate | 3.50% | 4.25% |
Notional amount | $ 7,554 | $ 7,508 |
Current maturities | 7,554 | 7,508 |
Borrowing costs | (555) | (237) |
Total | 6,999 | 7,271 |
Single Series Bond Four | Up to 90 days | ||
Financial instruments [Line Items] | ||
Notional amount | 7,554 | 7,508 |
Current maturities | 7,554 | 7,508 |
Single Series Bond Four | 90 days to 1 year | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | 0 |
Current maturities | $ 0 | $ 0 |
Single Series Bond Five | ||
Financial instruments [Line Items] | ||
Effective rate | 6.89% | 3.44% |
Nominal rate | 6.50% | 3.50% |
Notional amount | $ 7,312 | $ 7,554 |
Current maturities | 7,312 | 7,554 |
Borrowing costs | (1,521) | (555) |
Total | 5,791 | 6,999 |
Single Series Bond Five | Up to 90 days | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | 0 |
Current maturities | 0 | 0 |
Single Series Bond Five | 90 days to 1 year | ||
Financial instruments [Line Items] | ||
Notional amount | 7,312 | 7,554 |
Current maturities | $ 7,312 | $ 7,554 |
Series H bonds | ||
Financial instruments [Line Items] | ||
Effective rate | 1.58% | 1.23% |
Nominal rate | 4.90% | 4.90% |
Notional amount | $ 17,599 | $ 17,566 |
Current maturities | 17,599 | 17,566 |
Borrowing costs | (172) | (172) |
Total | 17,427 | 17,394 |
Series H bonds | Up to 90 days | ||
Financial instruments [Line Items] | ||
Notional amount | 17,599 | 17,566 |
Current maturities | 17,599 | 17,566 |
Series H bonds | 90 days to 1 year | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | 0 |
Current maturities | $ 0 | $ 0 |
Series O bonds | ||
Financial instruments [Line Items] | ||
Effective rate | 1.68% | 1.89% |
Nominal rate | 3.80% | 3.80% |
Notional amount | $ 987 | $ 965 |
Current maturities | 987 | 965 |
Borrowing costs | (82) | (82) |
Total | 905 | 883 |
Series O bonds | Up to 90 days | ||
Financial instruments [Line Items] | ||
Notional amount | 987 | 965 |
Current maturities | 987 | 965 |
Series O bonds | 90 days to 1 year | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | 0 |
Current maturities | $ 0 | $ 0 |
Series P bonds | ||
Financial instruments [Line Items] | ||
Effective rate | 1.41% | 1.72% |
Nominal rate | 3.25% | 3.25% |
Notional amount | $ 1,871 | $ 1,830 |
Current maturities | 1,871 | 1,830 |
Borrowing costs | (12) | (12) |
Total | 1,859 | 1,818 |
Series P bonds | Up to 90 days | ||
Financial instruments [Line Items] | ||
Notional amount | 1,871 | 1,830 |
Current maturities | 1,871 | 1,830 |
Series P bonds | 90 days to 1 year | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | 0 |
Current maturities | $ 0 | $ 0 |
Series Q bonds | ||
Financial instruments [Line Items] | ||
Effective rate | 2.41% | 2.63% |
Nominal rate | 3.45% | 3.45% |
Notional amount | $ 359 | $ 351 |
Current maturities | 359 | 351 |
Borrowing costs | (21) | (20) |
Total | 338 | 331 |
Series Q bonds | Up to 90 days | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | 0 |
Current maturities | 0 | 0 |
Series Q bonds | 90 days to 1 year | ||
Financial instruments [Line Items] | ||
Notional amount | 359 | 351 |
Current maturities | $ 359 | $ 351 |
Financial instruments - Bank _2
Financial instruments - Bank Borrowings, Non-Current (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Financial instruments [Line Items] | ||
Notional amount | $ 50,707 | $ 345,949 |
Bond issuance costs | (3,708) | (2,360) |
Unsecured obligations | ||
Financial instruments [Line Items] | ||
Notional amount | 300,000 | 200,000 |
Carrying amount | 300,000 | 200,000 |
Bond issuance costs | (4,482) | (2,478) |
Total | 295,518 | 197,522 |
Unsecured obligations | Over 1 year to 2 years | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | 0 |
Carrying amount | 0 | 0 |
Unsecured obligations | Over 2 years to 3 years | ||
Financial instruments [Line Items] | ||
Notional amount | 200,000 | 200,000 |
Carrying amount | 200,000 | 200,000 |
Unsecured obligations | Over 3 years to 4 years | ||
Financial instruments [Line Items] | ||
Notional amount | 100,000 | 0 |
Carrying amount | $ 100,000 | $ 0 |
Bank of Nova Scotia | ||
Financial instruments [Line Items] | ||
Effective rate | 5.88% | |
Nominal rate | 6.64% | |
Bank of Nova Scotia | Unsecured obligations | ||
Financial instruments [Line Items] | ||
Notional amount | $ 200,000 | |
Carrying amount | 200,000 | |
Bond issuance costs | (1,648) | |
Total | 198,352 | |
Bank of Nova Scotia | Unsecured obligations | Over 1 year to 2 years | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | |
Carrying amount | 0 | |
Bank of Nova Scotia | Unsecured obligations | Over 2 years to 3 years | ||
Financial instruments [Line Items] | ||
Notional amount | 200,000 | |
Carrying amount | 200,000 | |
Bank of Nova Scotia | Unsecured obligations | Over 3 years to 4 years | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | |
Carrying amount | $ 0 | |
Banco Santander/Kexim | ||
Financial instruments [Line Items] | ||
Effective rate | 5.49% | |
Nominal rate | 6.36% | |
Banco Santander/Kexim | Unsecured obligations | ||
Financial instruments [Line Items] | ||
Notional amount | $ 100,000 | |
Carrying amount | 100,000 | |
Bond issuance costs | (2,834) | |
Total | 97,166 | |
Banco Santander/Kexim | Unsecured obligations | Over 1 year to 2 years | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | |
Carrying amount | 0 | |
Banco Santander/Kexim | Unsecured obligations | Over 2 years to 3 years | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | |
Carrying amount | 0 | |
Banco Santander/Kexim | Unsecured obligations | Over 3 years to 4 years | ||
Financial instruments [Line Items] | ||
Notional amount | 100,000 | |
Carrying amount | $ 100,000 | |
Scotiabank Cayman | ||
Financial instruments [Line Items] | ||
Effective rate | 2.33% | |
Nominal rate | 3.19% | |
Scotiabank Cayman | Unsecured obligations | ||
Financial instruments [Line Items] | ||
Notional amount | $ 0 | |
Carrying amount | 0 | |
Bond issuance costs | 0 | |
Total | 0 | |
Scotiabank Cayman | Unsecured obligations | Over 1 year to 2 years | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | |
Carrying amount | 0 | |
Scotiabank Cayman | Unsecured obligations | Over 2 years to 3 years | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | |
Carrying amount | 0 | |
Scotiabank Cayman | Unsecured obligations | Over 3 years to 4 years | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | |
Carrying amount | $ 0 | |
Scotiabank | ||
Financial instruments [Line Items] | ||
Effective rate | 5.10% | |
Nominal rate | 6.08% | |
Scotiabank | Unsecured obligations | ||
Financial instruments [Line Items] | ||
Notional amount | $ 200,000 | |
Carrying amount | 200,000 | |
Bond issuance costs | (2,478) | |
Total | 197,522 | |
Scotiabank | Unsecured obligations | Over 1 year to 2 years | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | |
Carrying amount | 0 | |
Scotiabank | Unsecured obligations | Over 2 years to 3 years | ||
Financial instruments [Line Items] | ||
Notional amount | 200,000 | |
Carrying amount | 200,000 | |
Scotiabank | Unsecured obligations | Over 3 years to 4 years | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | |
Carrying amount | $ 0 |
Financial instruments - Unsec_2
Financial instruments - Unsecured Obligations, Non-Current (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Financial instruments [Line Items] | ||
Notional amount | $ 50,707 | $ 345,949 |
Bond issuance costs | (3,708) | (2,360) |
Unsecured obligations | ||
Financial instruments [Line Items] | ||
Notional amount | 2,948,462 | 2,204,648 |
Carrying amount | 2,948,462 | 2,204,648 |
Bond issuance costs | (38,977) | (27,724) |
Total | 2,909,485 | 2,176,924 |
Unsecured obligations | Over 1 year to 2 years | ||
Financial instruments [Line Items] | ||
Notional amount | 250,000 | 0 |
Carrying amount | 250,000 | 0 |
Unsecured obligations | Over 2 years to 3 years | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | 0 |
Carrying amount | 0 | 0 |
Unsecured obligations | Over 3 years to 4 years | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | 250,000 |
Carrying amount | 0 | 250,000 |
Unsecured obligations | Over 4 years to 5 years | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | 0 |
Carrying amount | 0 | 0 |
Unsecured obligations | Over 5 years | ||
Financial instruments [Line Items] | ||
Notional amount | 2,698,462 | 1,954,648 |
Carrying amount | $ 2,698,462 | $ 1,954,648 |
Single Series Bond One | ||
Financial instruments [Line Items] | ||
Effective rate | 0.80% | 1.17% |
Nominal rate | 4.38% | 4.38% |
Notional amount | $ 4,648 | $ 4,648 |
Bond issuance costs | $ (433) | $ (433) |
Single Series Bond One | Unsecured obligations | ||
Financial instruments [Line Items] | ||
Effective rate | 4.24% | 4.08% |
Nominal rate | 4.38% | 4.38% |
Notional amount | $ 250,000 | $ 250,000 |
Carrying amount | 250,000 | 250,000 |
Bond issuance costs | (36) | (469) |
Total | 249,964 | 249,531 |
Single Series Bond One | Unsecured obligations | Over 1 year to 2 years | ||
Financial instruments [Line Items] | ||
Notional amount | 250,000 | 0 |
Carrying amount | 250,000 | 0 |
Single Series Bond One | Unsecured obligations | Over 2 years to 3 years | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | 0 |
Carrying amount | 0 | 0 |
Single Series Bond One | Unsecured obligations | Over 3 years to 4 years | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | 250,000 |
Carrying amount | 0 | 250,000 |
Single Series Bond One | Unsecured obligations | Over 4 years to 5 years | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | 0 |
Carrying amount | 0 | 0 |
Single Series Bond One | Unsecured obligations | Over 5 years | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | 0 |
Carrying amount | $ 0 | $ 0 |
Single Series Bond Two | ||
Financial instruments [Line Items] | ||
Effective rate | 2.39% | 0.56% |
Nominal rate | 4.25% | 3.63% |
Notional amount | $ 2,869 | $ 302,658 |
Bond issuance costs | $ (677) | $ (170) |
Single Series Bond Two | Unsecured obligations | ||
Financial instruments [Line Items] | ||
Effective rate | 4.14% | 4.10% |
Nominal rate | 4.25% | 4.25% |
Notional amount | $ 450,000 | $ 450,000 |
Carrying amount | 450,000 | 450,000 |
Bond issuance costs | (2,991) | (3,666) |
Total | 447,009 | 446,334 |
Single Series Bond Two | Unsecured obligations | Over 1 year to 2 years | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | 0 |
Carrying amount | 0 | 0 |
Single Series Bond Two | Unsecured obligations | Over 2 years to 3 years | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | 0 |
Carrying amount | 0 | 0 |
Single Series Bond Two | Unsecured obligations | Over 3 years to 4 years | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | 0 |
Carrying amount | 0 | 0 |
Single Series Bond Two | Unsecured obligations | Over 4 years to 5 years | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | 0 |
Carrying amount | 0 | 0 |
Single Series Bond Two | Unsecured obligations | Over 5 years | ||
Financial instruments [Line Items] | ||
Notional amount | 450,000 | 450,000 |
Carrying amount | $ 450,000 | $ 450,000 |
Single Series Bond Three | ||
Financial instruments [Line Items] | ||
Effective rate | 3.62% | 3.01% |
Nominal rate | 4.25% | 4.25% |
Notional amount | $ 7,508 | $ 2,869 |
Bond issuance costs | $ (235) | $ (679) |
Single Series Bond Three | Unsecured obligations | ||
Financial instruments [Line Items] | ||
Effective rate | 4.23% | 4.19% |
Nominal rate | 4.25% | 4.25% |
Notional amount | $ 400,000 | $ 400,000 |
Carrying amount | 400,000 | 400,000 |
Bond issuance costs | (5,879) | (6,112) |
Total | 394,121 | 393,888 |
Single Series Bond Three | Unsecured obligations | Over 1 year to 2 years | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | 0 |
Carrying amount | 0 | 0 |
Single Series Bond Three | Unsecured obligations | Over 2 years to 3 years | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | 0 |
Carrying amount | 0 | 0 |
Single Series Bond Three | Unsecured obligations | Over 3 years to 4 years | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | 0 |
Carrying amount | 0 | 0 |
Single Series Bond Three | Unsecured obligations | Over 4 years to 5 years | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | 0 |
Carrying amount | 0 | 0 |
Single Series Bond Three | Unsecured obligations | Over 5 years | ||
Financial instruments [Line Items] | ||
Notional amount | 400,000 | 400,000 |
Carrying amount | $ 400,000 | $ 400,000 |
Single Series Bond Four | ||
Financial instruments [Line Items] | ||
Effective rate | 3.30% | 3.79% |
Nominal rate | 3.50% | 4.25% |
Notional amount | $ 7,554 | $ 7,508 |
Bond issuance costs | $ (555) | $ (237) |
Single Series Bond Four | Unsecured obligations | ||
Financial instruments [Line Items] | ||
Effective rate | 3.45% | 3.42% |
Nominal rate | 3.50% | 3.50% |
Notional amount | $ 700,000 | $ 700,000 |
Carrying amount | 700,000 | 700,000 |
Bond issuance costs | (14,787) | (15,341) |
Total | 685,213 | 684,659 |
Single Series Bond Four | Unsecured obligations | Over 1 year to 2 years | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | 0 |
Carrying amount | 0 | 0 |
Single Series Bond Four | Unsecured obligations | Over 2 years to 3 years | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | 0 |
Carrying amount | 0 | 0 |
Single Series Bond Four | Unsecured obligations | Over 3 years to 4 years | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | 0 |
Carrying amount | 0 | 0 |
Single Series Bond Four | Unsecured obligations | Over 4 years to 5 years | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | 0 |
Carrying amount | 0 | 0 |
Single Series Bond Four | Unsecured obligations | Over 5 years | ||
Financial instruments [Line Items] | ||
Notional amount | 700,000 | 700,000 |
Carrying amount | $ 700,000 | $ 700,000 |
Single Series Bond Five | ||
Financial instruments [Line Items] | ||
Effective rate | 6.89% | 3.44% |
Nominal rate | 6.50% | 3.50% |
Notional amount | $ 7,312 | $ 7,554 |
Bond issuance costs | $ (1,521) | $ (555) |
Single Series Bond Five | Unsecured obligations | ||
Financial instruments [Line Items] | ||
Effective rate | 6.89% | |
Nominal rate | 6.50% | |
Notional amount | $ 750,000 | |
Carrying amount | 750,000 | |
Bond issuance costs | (13,437) | |
Total | 736,563 | |
Single Series Bond Five | Unsecured obligations | Over 1 year to 2 years | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | |
Carrying amount | 0 | |
Single Series Bond Five | Unsecured obligations | Over 2 years to 3 years | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | |
Carrying amount | 0 | |
Single Series Bond Five | Unsecured obligations | Over 3 years to 4 years | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | |
Carrying amount | 0 | |
Single Series Bond Five | Unsecured obligations | Over 4 years to 5 years | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | |
Carrying amount | 0 | |
Single Series Bond Five | Unsecured obligations | Over 5 years | ||
Financial instruments [Line Items] | ||
Notional amount | 750,000 | |
Carrying amount | $ 750,000 | |
Series H bonds | ||
Financial instruments [Line Items] | ||
Effective rate | 1.58% | 1.23% |
Nominal rate | 4.90% | 4.90% |
Notional amount | $ 17,599 | $ 17,566 |
Bond issuance costs | $ (172) | $ (172) |
Series H bonds | Unsecured obligations | ||
Financial instruments [Line Items] | ||
Effective rate | 4.76% | 4.76% |
Nominal rate | 4.90% | 4.90% |
Notional amount | $ 83,887 | $ 96,967 |
Carrying amount | 83,887 | 96,967 |
Bond issuance costs | (861) | (1,034) |
Total | 83,026 | 95,933 |
Series H bonds | Unsecured obligations | Over 1 year to 2 years | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | 0 |
Carrying amount | 0 | 0 |
Series H bonds | Unsecured obligations | Over 2 years to 3 years | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | 0 |
Carrying amount | 0 | 0 |
Series H bonds | Unsecured obligations | Over 3 years to 4 years | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | 0 |
Carrying amount | 0 | 0 |
Series H bonds | Unsecured obligations | Over 4 years to 5 years | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | 0 |
Carrying amount | 0 | 0 |
Series H bonds | Unsecured obligations | Over 5 years | ||
Financial instruments [Line Items] | ||
Notional amount | 83,887 | 96,967 |
Carrying amount | $ 83,887 | $ 96,967 |
Series O bonds | ||
Financial instruments [Line Items] | ||
Effective rate | 1.68% | 1.89% |
Nominal rate | 3.80% | 3.80% |
Notional amount | $ 987 | $ 965 |
Bond issuance costs | $ (82) | $ (82) |
Series O bonds | Unsecured obligations | ||
Financial instruments [Line Items] | ||
Effective rate | 3.69% | 3.69% |
Nominal rate | 3.80% | 3.80% |
Notional amount | $ 62,915 | $ 61,536 |
Carrying amount | 62,915 | 61,536 |
Bond issuance costs | (659) | (741) |
Total | 62,256 | 60,795 |
Series O bonds | Unsecured obligations | Over 1 year to 2 years | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | 0 |
Carrying amount | 0 | 0 |
Series O bonds | Unsecured obligations | Over 2 years to 3 years | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | 0 |
Carrying amount | 0 | 0 |
Series O bonds | Unsecured obligations | Over 3 years to 4 years | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | 0 |
Carrying amount | 0 | 0 |
Series O bonds | Unsecured obligations | Over 4 years to 5 years | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | 0 |
Carrying amount | 0 | 0 |
Series O bonds | Unsecured obligations | Over 5 years | ||
Financial instruments [Line Items] | ||
Notional amount | 62,915 | 61,536 |
Carrying amount | $ 62,915 | $ 61,536 |
Series P bonds | ||
Financial instruments [Line Items] | ||
Effective rate | 1.41% | 1.72% |
Nominal rate | 3.25% | 3.25% |
Notional amount | $ 1,871 | $ 1,830 |
Bond issuance costs | $ (12) | $ (12) |
Series P bonds | Unsecured obligations | ||
Financial instruments [Line Items] | ||
Effective rate | 3.24% | 3.24% |
Nominal rate | 3.25% | 3.25% |
Notional amount | $ 125,830 | $ 123,072 |
Carrying amount | 125,830 | 123,072 |
Bond issuance costs | (40) | (52) |
Total | 125,790 | 123,020 |
Series P bonds | Unsecured obligations | Over 1 year to 2 years | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | 0 |
Carrying amount | 0 | 0 |
Series P bonds | Unsecured obligations | Over 2 years to 3 years | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | 0 |
Carrying amount | 0 | 0 |
Series P bonds | Unsecured obligations | Over 3 years to 4 years | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | 0 |
Carrying amount | 0 | 0 |
Series P bonds | Unsecured obligations | Over 4 years to 5 years | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | 0 |
Carrying amount | 0 | 0 |
Series P bonds | Unsecured obligations | Over 5 years | ||
Financial instruments [Line Items] | ||
Notional amount | 125,830 | 123,072 |
Carrying amount | $ 125,830 | $ 123,072 |
Series Q bonds | ||
Financial instruments [Line Items] | ||
Effective rate | 2.41% | 2.63% |
Nominal rate | 3.45% | 3.45% |
Notional amount | $ 359 | $ 351 |
Bond issuance costs | $ (21) | $ (20) |
Series Q bonds | Unsecured obligations | ||
Financial instruments [Line Items] | ||
Effective rate | 3.54% | 3.43% |
Nominal rate | 3.45% | 3.45% |
Notional amount | $ 125,830 | $ 123,073 |
Carrying amount | 125,830 | 123,073 |
Bond issuance costs | (287) | (309) |
Total | 125,543 | 122,764 |
Series Q bonds | Unsecured obligations | Over 1 year to 2 years | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | 0 |
Carrying amount | 0 | 0 |
Series Q bonds | Unsecured obligations | Over 2 years to 3 years | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | 0 |
Carrying amount | 0 | 0 |
Series Q bonds | Unsecured obligations | Over 3 years to 4 years | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | 0 |
Carrying amount | 0 | 0 |
Series Q bonds | Unsecured obligations | Over 4 years to 5 years | ||
Financial instruments [Line Items] | ||
Notional amount | 0 | 0 |
Carrying amount | 0 | 0 |
Series Q bonds | Unsecured obligations | Over 5 years | ||
Financial instruments [Line Items] | ||
Notional amount | 125,830 | 123,073 |
Carrying amount | $ 125,830 | $ 123,073 |
Financial instruments - Trade_3
Financial instruments - Trade and Other Payables Details (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of detailed information about financial instruments [abstract] | ||
Accounts payable, current | $ 441,780 | $ 358,711 |
Other accounts payable, current | 2,163 | 1,438 |
Prepayments from customers, current | 5,690 | 14,640 |
Total, current | 449,633 | 374,789 |
Accounts payable, noncurrent | 0 | 0 |
Other accounts payable, noncurrent | 0 | 0 |
Prepayments from customers, noncurrent | 0 | 0 |
Total, noncurrent | 0 | 0 |
Accounts payable | 441,780 | 358,711 |
Other accounts payable | 2,163 | 1,438 |
Prepayments from customers | 5,690 | 14,640 |
Total | $ 449,633 | $ 374,789 |
Financial instruments - Supplie
Financial instruments - Suppliers Current on Payments (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Financial instruments [Line Items] | ||
Suppliers current on all payments | $ 444,377 | $ 368,342 |
Up to 30 Days | ||
Financial instruments [Line Items] | ||
Suppliers current on all payments | 439,749 | 364,932 |
31 – 60 days | ||
Financial instruments [Line Items] | ||
Suppliers current on all payments | 2,897 | 2,056 |
61 – 90 Days | ||
Financial instruments [Line Items] | ||
Suppliers current on all payments | 6 | 950 |
91 – 120 days | ||
Financial instruments [Line Items] | ||
Suppliers current on all payments | 0 | 339 |
121 – 365 days | ||
Financial instruments [Line Items] | ||
Suppliers current on all payments | 1,725 | 65 |
366 and more days | ||
Financial instruments [Line Items] | ||
Suppliers current on all payments | 0 | 0 |
Goods | ||
Financial instruments [Line Items] | ||
Suppliers current on all payments | 251,098 | 241,110 |
Goods | Up to 30 Days | ||
Financial instruments [Line Items] | ||
Suppliers current on all payments | 246,789 | 239,108 |
Goods | 31 – 60 days | ||
Financial instruments [Line Items] | ||
Suppliers current on all payments | 2,654 | 786 |
Goods | 61 – 90 Days | ||
Financial instruments [Line Items] | ||
Suppliers current on all payments | 2 | 877 |
Goods | 91 – 120 days | ||
Financial instruments [Line Items] | ||
Suppliers current on all payments | 0 | 339 |
Goods | 121 – 365 days | ||
Financial instruments [Line Items] | ||
Suppliers current on all payments | 1,653 | 0 |
Goods | 366 and more days | ||
Financial instruments [Line Items] | ||
Suppliers current on all payments | 0 | 0 |
Services | ||
Financial instruments [Line Items] | ||
Suppliers current on all payments | 142,937 | 92,907 |
Services | Up to 30 Days | ||
Financial instruments [Line Items] | ||
Suppliers current on all payments | 142,625 | 91,499 |
Services | 31 – 60 days | ||
Financial instruments [Line Items] | ||
Suppliers current on all payments | 243 | 1,270 |
Services | 61 – 90 Days | ||
Financial instruments [Line Items] | ||
Suppliers current on all payments | 4 | 73 |
Services | 91 – 120 days | ||
Financial instruments [Line Items] | ||
Suppliers current on all payments | 0 | 0 |
Services | 121 – 365 days | ||
Financial instruments [Line Items] | ||
Suppliers current on all payments | 65 | 65 |
Services | 366 and more days | ||
Financial instruments [Line Items] | ||
Suppliers current on all payments | 0 | 0 |
Others | ||
Financial instruments [Line Items] | ||
Suppliers current on all payments | 50,342 | 34,325 |
Others | Up to 30 Days | ||
Financial instruments [Line Items] | ||
Suppliers current on all payments | 50,335 | 34,325 |
Others | 31 – 60 days | ||
Financial instruments [Line Items] | ||
Suppliers current on all payments | 0 | 0 |
Others | 61 – 90 Days | ||
Financial instruments [Line Items] | ||
Suppliers current on all payments | 0 | 0 |
Others | 91 – 120 days | ||
Financial instruments [Line Items] | ||
Suppliers current on all payments | 0 | 0 |
Others | 121 – 365 days | ||
Financial instruments [Line Items] | ||
Suppliers current on all payments | 7 | 0 |
Others | 366 and more days | ||
Financial instruments [Line Items] | ||
Suppliers current on all payments | $ 0 | $ 0 |
Financial instruments - Suppl_2
Financial instruments - Suppliers Past Due on Payments (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Financial instruments [Line Items] | ||
Suppliers past due on payments | $ 3,093 | $ 5,009 |
Goods | ||
Financial instruments [Line Items] | ||
Suppliers past due on payments | 1,350 | 2,880 |
Services | ||
Financial instruments [Line Items] | ||
Suppliers past due on payments | 1,665 | 1,939 |
Others | ||
Financial instruments [Line Items] | ||
Suppliers past due on payments | 78 | 190 |
Up to 30 Days | ||
Financial instruments [Line Items] | ||
Suppliers past due on payments | 2,431 | 2,978 |
Up to 30 Days | Goods | ||
Financial instruments [Line Items] | ||
Suppliers past due on payments | 864 | 1,294 |
Up to 30 Days | Services | ||
Financial instruments [Line Items] | ||
Suppliers past due on payments | 1,557 | 1,548 |
Up to 30 Days | Others | ||
Financial instruments [Line Items] | ||
Suppliers past due on payments | 10 | 136 |
31 – 60 days | ||
Financial instruments [Line Items] | ||
Suppliers past due on payments | 224 | 336 |
31 – 60 days | Goods | ||
Financial instruments [Line Items] | ||
Suppliers past due on payments | 158 | 135 |
31 – 60 days | Services | ||
Financial instruments [Line Items] | ||
Suppliers past due on payments | 57 | 174 |
31 – 60 days | Others | ||
Financial instruments [Line Items] | ||
Suppliers past due on payments | 9 | 27 |
61 – 90 Days | ||
Financial instruments [Line Items] | ||
Suppliers past due on payments | 101 | 84 |
61 – 90 Days | Goods | ||
Financial instruments [Line Items] | ||
Suppliers past due on payments | 77 | 64 |
61 – 90 Days | Services | ||
Financial instruments [Line Items] | ||
Suppliers past due on payments | 24 | 20 |
61 – 90 Days | Others | ||
Financial instruments [Line Items] | ||
Suppliers past due on payments | 0 | 0 |
91 – 120 days | ||
Financial instruments [Line Items] | ||
Suppliers past due on payments | 74 | 25 |
91 – 120 days | Goods | ||
Financial instruments [Line Items] | ||
Suppliers past due on payments | 66 | 24 |
91 – 120 days | Services | ||
Financial instruments [Line Items] | ||
Suppliers past due on payments | 8 | 1 |
91 – 120 days | Others | ||
Financial instruments [Line Items] | ||
Suppliers past due on payments | 0 | 0 |
121 – 365 days | ||
Financial instruments [Line Items] | ||
Suppliers past due on payments | 263 | 1,586 |
121 – 365 days | Goods | ||
Financial instruments [Line Items] | ||
Suppliers past due on payments | 185 | 1,363 |
121 – 365 days | Services | ||
Financial instruments [Line Items] | ||
Suppliers past due on payments | 19 | 196 |
121 – 365 days | Others | ||
Financial instruments [Line Items] | ||
Suppliers past due on payments | 59 | 27 |
366 and more days | ||
Financial instruments [Line Items] | ||
Suppliers past due on payments | 0 | 0 |
366 and more days | Goods | ||
Financial instruments [Line Items] | ||
Suppliers past due on payments | 0 | 0 |
366 and more days | Services | ||
Financial instruments [Line Items] | ||
Suppliers past due on payments | 0 | 0 |
366 and more days | Others | ||
Financial instruments [Line Items] | ||
Suppliers past due on payments | $ 0 | $ 0 |
Financial instruments - Categor
Financial instruments - Categories of Financial Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Financial instruments [Line Items] | ||
Current financial assets at amortized cost | $ 3,308,600 | $ 4,774,445 |
Current financial assets at fair value through profit or loss | 9,046 | 11,188 |
Non-current financial assets at amortized cost | 2,579 | 2,114 |
Non-current, financial assets at fair value through profit or loss | 248,261 | 32,103 |
Financial assets at amortized cost | 3,311,179 | 4,776,559 |
Total, financial assets at fair value through profit or loss | 257,307 | 43,291 |
Cash and cash equivalent | ||
Financial instruments [Line Items] | ||
Current financial assets at amortized cost | 1,041,369 | 2,655,236 |
Non-current financial assets at amortized cost | 0 | 0 |
Financial assets at amortized cost | 1,041,369 | 2,655,236 |
Trade receivables due from related parties at amortized cost | ||
Financial instruments [Line Items] | ||
Current financial assets at amortized cost | 43,253 | 81,622 |
Non-current financial assets at amortized cost | 0 | 0 |
Financial assets at amortized cost | 43,253 | 81,622 |
Financial assets measured at amortized cost | ||
Financial instruments [Line Items] | ||
Current financial assets at amortized cost | 1,316,797 | 950,167 |
Non-current financial assets at amortized cost | 20 | 23 |
Financial assets at amortized cost | 1,316,817 | 950,190 |
Trade and other receivables | ||
Financial instruments [Line Items] | ||
Current financial assets at amortized cost | 907,181 | 1,087,420 |
Non-current financial assets at amortized cost | 2,559 | 2,091 |
Financial assets at amortized cost | 909,740 | 1,089,511 |
Financial instruments for hedging purposes | ||
Financial instruments [Line Items] | ||
Current financial assets at fair value through profit or loss | 8,527 | 7,014 |
Non-current, financial assets at fair value through profit or loss | 15,993 | 22,606 |
Total, financial assets at fair value through profit or loss | 24,520 | 29,620 |
Derivative financial instruments with effect in profit or loss (no hedge) | ||
Financial instruments [Line Items] | ||
Current financial assets at fair value through profit or loss | 519 | 4,174 |
Non-current, financial assets at fair value through profit or loss | 0 | 0 |
Total, financial assets at fair value through profit or loss | 519 | 4,174 |
Financial assets classified as available for sale at fair value through other comprehensive income | ||
Financial instruments [Line Items] | ||
Current financial assets at fair value through profit or loss | 0 | 0 |
Non-current, financial assets at fair value through profit or loss | 232,268 | 9,497 |
Total, financial assets at fair value through profit or loss | 232,268 | 9,497 |
Total financial assets | ||
Financial instruments [Line Items] | ||
Current, total financial assets | 3,317,646 | 4,785,633 |
Non-current, total financial assets | 250,840 | 34,217 |
Total financial assets | $ 3,568,486 | $ 4,819,850 |
Financial instruments - Categ_2
Financial instruments - Categories of Financial Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Financial instruments [Line Items] | ||
Current financial liabilities at amortized cost | $ 1,679,086 | $ 861,367 |
Non-current financial liabilities at amortized cost | 3,261,969 | 2,424,031 |
Financial liabilities at amortized cost | 4,941,055 | 3,285,398 |
Total financial liabilities | 5,611,180 | 4,854,740 |
For hedging purposes through other comprehensive income | ||
Financial instruments [Line Items] | ||
Current financial liabilities at fair value | 30,443 | 42,754 |
Non-current financial liabilities at fair value | 8,419 | 19,772 |
Financial liabilities at fair value | 38,862 | 62,526 |
Held for trading at fair value through profit or loss | ||
Financial instruments [Line Items] | ||
Current financial liabilities at fair value | 14,795 | 5,816 |
Non-current financial liabilities at fair value | 0 | 0 |
Financial liabilities at fair value | 14,795 | 5,816 |
Financial liabilities at fair value | ||
Financial instruments [Line Items] | ||
Current financial liabilities at fair value | 45,238 | 48,570 |
Non-current financial liabilities at fair value | 8,419 | 19,772 |
Financial liabilities at fair value | 53,657 | 68,342 |
Bank loans | ||
Financial instruments [Line Items] | ||
Current financial liabilities at amortized cost | 1,164,262 | 130,840 |
Non-current financial liabilities at amortized cost | 295,518 | 197,522 |
Financial liabilities at amortized cost | 1,459,780 | 328,362 |
Unsecured obligations | ||
Financial instruments [Line Items] | ||
Current financial liabilities at amortized cost | 46,999 | 343,589 |
Non-current financial liabilities at amortized cost | 2,909,485 | 2,176,924 |
Financial liabilities at amortized cost | 2,956,484 | 2,520,513 |
Lease Liabilities | ||
Financial instruments [Line Items] | ||
Current financial liabilities at amortized cost | 18,192 | 12,149 |
Non-current financial liabilities at amortized cost | 56,966 | 49,585 |
Financial liabilities at amortized cost | 75,158 | 61,734 |
Trade and other payables | ||
Financial instruments [Line Items] | ||
Current financial liabilities at amortized cost | 449,633 | 374,789 |
Non-current financial liabilities at amortized cost | 0 | 0 |
Financial liabilities at amortized cost | 449,633 | 374,789 |
Total financial liabilities | ||
Financial instruments [Line Items] | ||
Current, total financial liabilities | 1,724,324 | 909,937 |
Non-current, total financial liabilities | 3,270,388 | 2,443,803 |
Total financial liabilities | $ 4,994,712 | $ 3,353,740 |
Financial instruments - Fair Va
Financial instruments - Fair Value Measurement of Assets and Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Financial instruments [Line Items] | ||
Financial Liabilities | $ 5,611,180 | $ 4,854,740 |
Level 1 | Bank borrowings | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 0 | 0 |
Level 1 | Forwards | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 0 | 0 |
Level 1 | Options | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 0 | 0 |
Level 1 | Hedging assets – Swaps | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 0 | 0 |
Level 1 | Swaps hedges, investments | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 0 | 0 |
Level 1 | Cash Flow | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 0 | |
Level 1 | Unsecured obligations | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 0 | 0 |
Level 1 | Bank borrowings | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 0 | 0 |
Level 1 | Unsecured obligations | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 0 | 0 |
Level 1 | Non-current hedging liabilities | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 0 | 0 |
Level 2 | Bank borrowings | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 1,164,262 | 130,840 |
Level 2 | Forwards | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 14,525 | 4,848 |
Level 2 | Options | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 270 | 968 |
Level 2 | Hedging assets – Swaps | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 12,143 | 42,754 |
Level 2 | Swaps hedges, investments | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 18,300 | 0 |
Level 2 | Cash Flow | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 0 | |
Level 2 | Unsecured obligations | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 46,999 | 343,589 |
Level 2 | Bank borrowings | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 295,518 | 196,598 |
Level 2 | Unsecured obligations | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 2,909,485 | 2,476,924 |
Level 2 | Non-current hedging liabilities | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 8,419 | 19,772 |
Level 3 | Bank borrowings | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 0 | 0 |
Level 3 | Forwards | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 0 | 0 |
Level 3 | Options | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 0 | 0 |
Level 3 | Hedging assets – Swaps | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 0 | 0 |
Level 3 | Swaps hedges, investments | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 0 | 0 |
Level 3 | Cash Flow | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 0 | |
Level 3 | Unsecured obligations | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 0 | 0 |
Level 3 | Bank borrowings | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 0 | 0 |
Level 3 | Unsecured obligations | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 0 | 0 |
Level 3 | Non-current hedging liabilities | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 0 | 0 |
Fair value (disclosure purposes) | Bank borrowings | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 1,164,262 | 130,840 |
Fair value (disclosure purposes) | Forwards | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 0 | 0 |
Fair value (disclosure purposes) | Options | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 0 | 0 |
Fair value (disclosure purposes) | Hedging assets – Swaps | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 0 | 0 |
Fair value (disclosure purposes) | Swaps hedges, investments | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 0 | 0 |
Fair value (disclosure purposes) | Cash Flow | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 0 | |
Fair value (disclosure purposes) | Unsecured obligations | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 46,999 | 343,589 |
Fair value (disclosure purposes) | Bank borrowings | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 295,518 | 196,598 |
Fair value (disclosure purposes) | Unsecured obligations | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 2,909,485 | 2,476,924 |
Fair value (disclosure purposes) | Non-current hedging liabilities | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 0 | 0 |
Fair amount registered | Bank borrowings | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 0 | 0 |
Fair amount registered | Forwards | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 14,525 | 4,848 |
Fair amount registered | Options | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 270 | 968 |
Fair amount registered | Hedging assets – Swaps | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 12,143 | 42,754 |
Fair amount registered | Swaps hedges, investments | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 18,300 | 0 |
Fair amount registered | Cash Flow | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 0 | |
Fair amount registered | Unsecured obligations | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 0 | 0 |
Fair amount registered | Bank borrowings | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 0 | 0 |
Fair amount registered | Unsecured obligations | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 0 | 0 |
Fair amount registered | Non-current hedging liabilities | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 8,419 | 19,772 |
Cash and cash equivalents | Level 1 | ||
Financial instruments [Line Items] | ||
Financial Assets | 1,041,369 | 2,655,236 |
Cash and cash equivalents | Level 2 | ||
Financial instruments [Line Items] | ||
Financial Assets | 0 | 0 |
Cash and cash equivalents | Level 3 | ||
Financial instruments [Line Items] | ||
Financial Assets | 0 | 0 |
Cash and cash equivalents | Fair value (disclosure purposes) | ||
Financial instruments [Line Items] | ||
Financial Assets | 1,041,369 | 2,655,236 |
Cash and cash equivalents | Fair amount registered | ||
Financial instruments [Line Items] | ||
Financial Assets | 0 | 0 |
Time deposits | Level 1 | ||
Financial instruments [Line Items] | ||
Financial Assets | 0 | 0 |
Time deposits | Level 2 | ||
Financial instruments [Line Items] | ||
Financial Assets | 1,316,797 | 950,167 |
Time deposits | Level 3 | ||
Financial instruments [Line Items] | ||
Financial Assets | 0 | 0 |
Time deposits | Fair value (disclosure purposes) | ||
Financial instruments [Line Items] | ||
Financial Assets | 1,316,797 | 950,167 |
Time deposits | Fair amount registered | ||
Financial instruments [Line Items] | ||
Financial Assets | 0 | 0 |
Derivative financial instruments | Level 1 | ||
Financial instruments [Line Items] | ||
Financial Assets | 0 | |
Financial Liabilities | 0 | 0 |
Derivative financial instruments | Level 2 | ||
Financial instruments [Line Items] | ||
Financial Assets | 0 | |
Financial Liabilities | 0 | 0 |
Derivative financial instruments | Level 3 | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 0 | 0 |
Derivative financial instruments | Fair value (disclosure purposes) | ||
Financial instruments [Line Items] | ||
Financial Assets | 0 | |
Financial Liabilities | 0 | 0 |
Derivative financial instruments | Fair amount registered | ||
Financial instruments [Line Items] | ||
Financial Assets | 0 | |
Financial Liabilities | 0 | 0 |
Forwards | Level 1 | ||
Financial instruments [Line Items] | ||
Financial Assets | 0 | 0 |
Forwards | Level 2 | ||
Financial instruments [Line Items] | ||
Financial Assets | 324 | 3,704 |
Forwards | Level 3 | ||
Financial instruments [Line Items] | ||
Financial Assets | 0 | 0 |
Forwards | Fair value (disclosure purposes) | ||
Financial instruments [Line Items] | ||
Financial Assets | 0 | 0 |
Forwards | Fair amount registered | ||
Financial instruments [Line Items] | ||
Financial Assets | 324 | 3,704 |
Options | Level 1 | ||
Financial instruments [Line Items] | ||
Financial Assets | 0 | 0 |
Options | Level 2 | ||
Financial instruments [Line Items] | ||
Financial Assets | 195 | 470 |
Options | Level 3 | ||
Financial instruments [Line Items] | ||
Financial Assets | 0 | 0 |
Options | Fair value (disclosure purposes) | ||
Financial instruments [Line Items] | ||
Financial Assets | 0 | 0 |
Options | Fair amount registered | ||
Financial instruments [Line Items] | ||
Financial Assets | 195 | 470 |
Hedging assets | Level 1 | ||
Financial instruments [Line Items] | ||
Financial Assets | 0 | 0 |
Hedging assets | Level 2 | ||
Financial instruments [Line Items] | ||
Financial Assets | 8,527 | 7,014 |
Hedging assets | Level 3 | ||
Financial instruments [Line Items] | ||
Financial Assets | 0 | 0 |
Hedging assets | Fair value (disclosure purposes) | ||
Financial instruments [Line Items] | ||
Financial Assets | 0 | 0 |
Hedging assets | Fair amount registered | ||
Financial instruments [Line Items] | ||
Financial Assets | 8,527 | 7,014 |
Swaps | Level 1 | ||
Financial instruments [Line Items] | ||
Financial Assets | 0 | 0 |
Swaps | Level 2 | ||
Financial instruments [Line Items] | ||
Financial Assets | 0 | 0 |
Swaps | Level 3 | ||
Financial instruments [Line Items] | ||
Financial Assets | 0 | 0 |
Swaps | Fair value (disclosure purposes) | ||
Financial instruments [Line Items] | ||
Financial Assets | 0 | 0 |
Swaps | Fair amount registered | ||
Financial instruments [Line Items] | ||
Financial Assets | 0 | 0 |
Non-current accounts receivable | Level 1 | ||
Financial instruments [Line Items] | ||
Financial Assets | 0 | 0 |
Non-current accounts receivable | Level 2 | ||
Financial instruments [Line Items] | ||
Financial Assets | 0 | 0 |
Non-current accounts receivable | Level 3 | ||
Financial instruments [Line Items] | ||
Financial Assets | 0 | 0 |
Non-current accounts receivable | Fair value (disclosure purposes) | ||
Financial instruments [Line Items] | ||
Financial Assets | 2,559 | 2,091 |
Non-current accounts receivable | Fair amount registered | ||
Financial instruments [Line Items] | ||
Financial Assets | 0 | 0 |
Others | Level 1 | ||
Financial instruments [Line Items] | ||
Financial Assets | 0 | 0 |
Others | Level 2 | ||
Financial instruments [Line Items] | ||
Financial Assets | 20 | 23 |
Others | Level 3 | ||
Financial instruments [Line Items] | ||
Financial Assets | 0 | 0 |
Others | Fair value (disclosure purposes) | ||
Financial instruments [Line Items] | ||
Financial Assets | 20 | 23 |
Others | Fair amount registered | ||
Financial instruments [Line Items] | ||
Financial Assets | 0 | 0 |
Equity instruments | Level 1 | ||
Financial instruments [Line Items] | ||
Financial Assets | 232,268 | 9,497 |
Equity instruments | Level 2 | ||
Financial instruments [Line Items] | ||
Financial Assets | 0 | 0 |
Equity instruments | Level 3 | ||
Financial instruments [Line Items] | ||
Financial Assets | 0 | 0 |
Equity instruments | Fair value (disclosure purposes) | ||
Financial instruments [Line Items] | ||
Financial Assets | 0 | 0 |
Equity instruments | Fair amount registered | ||
Financial instruments [Line Items] | ||
Financial Assets | 232,268 | 9,497 |
Hedging assets – Swaps | Level 1 | ||
Financial instruments [Line Items] | ||
Financial Assets | 15,993 | 22,606 |
Hedging assets – Swaps | Level 2 | ||
Financial instruments [Line Items] | ||
Financial Assets | 0 | 0 |
Hedging assets – Swaps | Level 3 | ||
Financial instruments [Line Items] | ||
Financial Assets | 0 | 0 |
Hedging assets – Swaps | Fair value (disclosure purposes) | ||
Financial instruments [Line Items] | ||
Financial Assets | 0 | 0 |
Hedging assets – Swaps | Fair amount registered | ||
Financial instruments [Line Items] | ||
Financial Assets | 15,993 | 22,606 |
Carrying amount | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 5,028,400 | 3,386,270 |
Carrying amount | Bank borrowings | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 1,164,262 | 130,840 |
Carrying amount | Derivative financial instruments | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 0 | 0 |
Carrying amount | Forwards | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 0 | 0 |
Carrying amount | Options | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 0 | 0 |
Carrying amount | Hedging assets – Swaps | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 0 | 0 |
Carrying amount | Swaps hedges, investments | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 0 | 0 |
Carrying amount | Cash Flow | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 0 | |
Carrying amount | Unsecured obligations | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 46,999 | 343,589 |
Carrying amount | Bank borrowings | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 295,518 | 197,522 |
Carrying amount | Unsecured obligations | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 2,909,485 | 2,176,924 |
Carrying amount | Non-current hedging liabilities | ||
Financial instruments [Line Items] | ||
Financial Liabilities | 0 | 0 |
Carrying amount | Cash and cash equivalents | ||
Financial instruments [Line Items] | ||
Financial Assets | 1,041,369 | 2,655,236 |
Carrying amount | Time deposits | ||
Financial instruments [Line Items] | ||
Financial Assets | 1,316,797 | 950,167 |
Carrying amount | Derivative financial instruments | ||
Financial instruments [Line Items] | ||
Financial Assets | 0 | |
Carrying amount | Forwards | ||
Financial instruments [Line Items] | ||
Financial Assets | 0 | 0 |
Carrying amount | Options | ||
Financial instruments [Line Items] | ||
Financial Assets | 0 | 0 |
Carrying amount | Hedging assets | ||
Financial instruments [Line Items] | ||
Financial Assets | 0 | 0 |
Carrying amount | Swaps | ||
Financial instruments [Line Items] | ||
Financial Assets | 0 | 0 |
Carrying amount | Non-current accounts receivable | ||
Financial instruments [Line Items] | ||
Financial Assets | 2,559 | 2,091 |
Carrying amount | Others | ||
Financial instruments [Line Items] | ||
Financial Assets | 20 | 23 |
Carrying amount | Equity instruments | ||
Financial instruments [Line Items] | ||
Financial Assets | 0 | 0 |
Carrying amount | Hedging assets – Swaps | ||
Financial instruments [Line Items] | ||
Financial Assets | $ 0 | $ 0 |
Financial instruments - Net Deb
Financial instruments - Net Debt (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of detailed information about financial instruments [abstract] | ||||
Cash and cash equivalents | $ 1,041,369 | $ 2,655,236 | $ 1,515,051 | $ 509,102 |
Other current financial assets | 1,325,843 | 961,355 | ||
Other non-current financial hedge assets | 15,993 | 22,606 | ||
Other current financial liabilities | (1,256,499) | (522,999) | ||
Lease liabilities current | (18,192) | (12,149) | ||
Other non-current financial liabilities | (3,213,422) | (2,394,218) | ||
Non-current Lease liabilities | (56,966) | (49,585) | ||
Total | $ (2,161,874) | $ 660,246 | $ (258,915) |
Financial instruments - Recon_2
Financial instruments - Reconciliation of Net Debt (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure Of Detailed Information About Changes In Net Debt [Line Items] | ||
Net debt, beginning balance | $ (660,246) | $ 258,915 |
Amounts from loans | (1,537,295) | (235,412) |
Amounts from interests | 20,495 | 59,315 |
Other cash (inflows)/outflows | (1,282,708) | 1,149,930 |
Income statement | (41,305) | (81,235) |
Equity and others | 18,693 | 26,563 |
Net debt, ending balance | 2,161,874 | (660,246) |
Obligations with the public and bank loans | ||
Disclosure Of Detailed Information About Changes In Net Debt [Line Items] | ||
Net debt, beginning balance | 2,848,875 | 2,555,511 |
Amounts from loans | (1,534,282) | (246,883) |
Amounts from interests | 117,145 | 98,155 |
Other cash (inflows)/outflows | 18,346 | 2,566 |
Income statement | (168,598) | (147,202) |
Equity and others | 0 | 0 |
Net debt, ending balance | 4,416,264 | 2,848,875 |
Financial instruments derived from hedging | ||
Disclosure Of Detailed Information About Changes In Net Debt [Line Items] | ||
Net debt, beginning balance | 39,681 | |
Amounts from loans | (18,927) | |
Amounts from interests | 4,077 | |
Other cash (inflows)/outflows | 0 | |
Income statement | 11,731 | |
Equity and others | 20,800 | |
Net debt, ending balance | 22,000 | 39,681 |
Derivatives for investment hedges | ||
Disclosure Of Detailed Information About Changes In Net Debt [Line Items] | ||
Net debt, beginning balance | 29,984 | |
Amounts from loans | 0 | |
Amounts from interests | 0 | |
Other cash (inflows)/outflows | (10,082) | |
Income statement | 18,171 | |
Equity and others | 3,595 | |
Net debt, ending balance | 18,300 | 29,984 |
Non-hedging derivatives on other financial liabilities | ||
Disclosure Of Detailed Information About Changes In Net Debt [Line Items] | ||
Net debt, beginning balance | 5,816 | 1,672 |
Amounts from loans | 0 | 0 |
Amounts from interests | 0 | 0 |
Other cash (inflows)/outflows | 0 | 0 |
Income statement | (8,979) | (4,144) |
Equity and others | 0 | 0 |
Net debt, ending balance | 14,795 | 5,816 |
Current and non-current lease liabilities | ||
Disclosure Of Detailed Information About Changes In Net Debt [Line Items] | ||
Net debt, beginning balance | 61,734 | |
Amounts from loans | 15,914 | |
Amounts from interests | 2,038 | |
Other cash (inflows)/outflows | 0 | |
Income statement | (31,376) | |
Equity and others | 0 | |
Net debt, ending balance | 75,158 | 61,734 |
Current and non-current financial liabilities | ||
Disclosure Of Detailed Information About Changes In Net Debt [Line Items] | ||
Net debt, beginning balance | 2,986,090 | 2,693,260 |
Amounts from loans | (1,537,295) | (235,412) |
Amounts from interests | 123,260 | 107,004 |
Other cash (inflows)/outflows | 8,264 | (96) |
Income statement | (179,051) | (185,772) |
Equity and others | 24,395 | 21,446 |
Net debt, ending balance | 4,546,517 | 2,986,090 |
Cash and cash equivalents | ||
Disclosure Of Detailed Information About Changes In Net Debt [Line Items] | ||
Net debt, beginning balance | (2,655,236) | (1,515,051) |
Amounts from loans | 0 | 0 |
Amounts from interests | (53,539) | (25,623) |
Other cash (inflows)/outflows | (1,615,863) | 1,165,225 |
Income statement | 55,535 | 583 |
Equity and others | 0 | 0 |
Net debt, ending balance | (1,041,369) | (2,655,236) |
Deposits that do not qualify as cash and cash equivalents | ||
Disclosure Of Detailed Information About Changes In Net Debt [Line Items] | ||
Net debt, beginning balance | (950,167) | (905,170) |
Amounts from loans | 0 | 0 |
Amounts from interests | (49,226) | (24,088) |
Other cash (inflows)/outflows | 341,742 | 24,679 |
Income statement | 74,114 | 44,406 |
Equity and others | 0 | 0 |
Net debt, ending balance | (1,316,797) | (950,167) |
Debt hedging derivative financial instruments | ||
Disclosure Of Detailed Information About Changes In Net Debt [Line Items] | ||
Net debt, beginning balance | (29,620) | (257) |
Amounts from loans | 0 | 0 |
Amounts from interests | 0 | 0 |
Other cash (inflows)/outflows | 0 | 0 |
Income statement | (5,100) | 29,363 |
Equity and others | 0 | 0 |
Net debt, ending balance | (24,520) | (29,620) |
Derivatives for investment hedges | ||
Disclosure Of Detailed Information About Changes In Net Debt [Line Items] | ||
Net debt, beginning balance | 0 | |
Amounts from loans | 0 | |
Amounts from interests | 0 | |
Other cash (inflows)/outflows | 0 | |
Income statement | 0 | |
Equity and others | 0 | |
Net debt, ending balance | 0 | 0 |
Non-hedging derivatives on other financial assets | ||
Disclosure Of Detailed Information About Changes In Net Debt [Line Items] | ||
Net debt, beginning balance | (4,174) | |
Amounts from loans | 0 | |
Amounts from interests | 0 | |
Other cash (inflows)/outflows | (18,034) | |
Income statement | 14,380 | |
Equity and others | 0 | |
Net debt, ending balance | (520) | (4,174) |
Hedging derivatives reimbursement of SQM Australia asset | ||
Disclosure Of Detailed Information About Changes In Net Debt [Line Items] | ||
Net debt, beginning balance | (7,139) | |
Amounts from loans | 0 | |
Amounts from interests | 0 | |
Other cash (inflows)/outflows | 1,183 | |
Income statement | (1,183) | |
Equity and others | (5,702) | |
Net debt, ending balance | (1,437) | (7,139) |
Debt hedging derivative financial instruments | ||
Disclosure Of Detailed Information About Changes In Net Debt [Line Items] | ||
Net debt, beginning balance | 39,681 | 81,854 |
Amounts from loans | 993 | |
Amounts from interests | 7,623 | |
Other cash (inflows)/outflows | 0 | |
Income statement | 6,108 | |
Equity and others | 27,449 | |
Net debt, ending balance | 39,681 | |
Hedging and investment derivatives | ||
Disclosure Of Detailed Information About Changes In Net Debt [Line Items] | ||
Net debt, beginning balance | 29,984 | 0 |
Amounts from loans | 0 | |
Amounts from interests | 0 | |
Other cash (inflows)/outflows | (2,662) | |
Income statement | (21,319) | |
Equity and others | (6,003) | |
Net debt, ending balance | 29,984 | |
Operating lease liabilities, current and non-current | ||
Disclosure Of Detailed Information About Changes In Net Debt [Line Items] | ||
Net debt, beginning balance | 61,734 | 54,223 |
Amounts from loans | 10,478 | |
Amounts from interests | 1,226 | |
Other cash (inflows)/outflows | 0 | |
Income statement | (19,215) | |
Equity and others | 0 | |
Net debt, ending balance | 61,734 | |
Hedging and investment derivatives | ||
Disclosure Of Detailed Information About Changes In Net Debt [Line Items] | ||
Net debt, beginning balance | 0 | (12,613) |
Amounts from loans | 0 | |
Amounts from interests | 0 | |
Other cash (inflows)/outflows | 0 | |
Income statement | (12,613) | |
Equity and others | 0 | |
Net debt, ending balance | 0 | |
Non-hedging derivatives on other financial assets | ||
Disclosure Of Detailed Information About Changes In Net Debt [Line Items] | ||
Net debt, beginning balance | (4,174) | (1,254) |
Amounts from loans | 0 | |
Amounts from interests | 0 | |
Other cash (inflows)/outflows | (39,878) | |
Income statement | 42,798 | |
Equity and others | 0 | |
Net debt, ending balance | (4,174) | |
Hedging derivatives reimbursement of SQM Australia asset | ||
Disclosure Of Detailed Information About Changes In Net Debt [Line Items] | ||
Net debt, beginning balance | (7,139) | 0 |
Amounts from loans | 0 | |
Amounts from interests | 2,022 | |
Other cash (inflows)/outflows | 0 | |
Income statement | 0 | |
Equity and others | 5,117 | |
Net debt, ending balance | (7,139) | |
Current and Non-Current Financial Assets | ||
Disclosure Of Detailed Information About Changes In Net Debt [Line Items] | ||
Net debt, beginning balance | (3,646,336) | (2,434,345) |
Amounts from loans | 0 | 0 |
Amounts from interests | (102,765) | (47,689) |
Other cash (inflows)/outflows | (1,290,972) | 1,150,026 |
Income statement | 137,746 | 104,537 |
Equity and others | (5,702) | 5,117 |
Net debt, ending balance | $ (2,384,643) | $ (3,646,336) |
Right-of-use assets and Lease_3
Right-of-use assets and Lease liabilities - Reconciliation of Changes in ROU Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure of quantitative information about right-of-use assets [line items] | ||
Opening Balance | $ 60,867 | $ 52,608 |
Additions | 33,331 | 19,196 |
Depreciation expenses | (17,271) | (9,206) |
Transfer to property, plant and equipment | 0 | (1,736) |
Other increases (decreases) | (3,734) | 5 |
Total changes | 12,326 | 8,259 |
Closing balance | 73,193 | 60,867 |
Land | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Opening Balance | 18,320 | 17,353 |
Additions | 894 | 1,599 |
Depreciation expenses | (687) | (12) |
Transfer to property, plant and equipment | 0 | (622) |
Other increases (decreases) | (228) | 2 |
Total changes | (21) | 967 |
Closing balance | 18,299 | 18,320 |
Buildings | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Opening Balance | 17,839 | 20,951 |
Additions | 13,714 | 736 |
Depreciation expenses | (4,509) | (3,846) |
Transfer to property, plant and equipment | 0 | 0 |
Other increases (decreases) | (1,586) | (2) |
Total changes | 7,619 | (3,112) |
Closing balance | 25,458 | 17,839 |
Other property, plant and equipment | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Opening Balance | 0 | 0 |
Additions | 0 | 0 |
Depreciation expenses | 0 | 0 |
Transfer to property, plant and equipment | 0 | 0 |
Other increases (decreases) | 0 | 0 |
Total changes | 0 | 0 |
Closing balance | 0 | 0 |
Transport equipment | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Opening Balance | 1,805 | 2,578 |
Additions | 37 | 186 |
Depreciation expenses | (987) | (965) |
Transfer to property, plant and equipment | 0 | 0 |
Other increases (decreases) | 0 | 6 |
Total changes | (950) | (773) |
Closing balance | 855 | 1,805 |
Machinery, plant and equipment | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Opening Balance | 22,903 | 11,726 |
Additions | 18,686 | 16,675 |
Depreciation expenses | (11,088) | (4,383) |
Transfer to property, plant and equipment | 0 | (1,114) |
Other increases (decreases) | (1,920) | (1) |
Total changes | 5,678 | 11,177 |
Closing balance | $ 28,581 | $ 22,903 |
Right-of-use assets and Lease_4
Right-of-use assets and Lease liabilities - Lease Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Right-Of-Use Assets And Lease Liabilities | ||
Current lease liabilities | $ 18,192 | $ 12,149 |
Non-current lease liabilities | $ 56,966 | $ 49,585 |
Right-of-use assets and Lease_5
Right-of-use assets and Lease liabilities - Details of Current Lease Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | $ 18,192 | $ 12,149 |
Nominal amounts | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 19,943 | 13,939 |
Nominal amounts | Over 90 days | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 5,266 | 3,565 |
Nominal amounts | 90 days to 1 year | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 14,677 | 10,374 |
Amounts at amortized cost | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 18,192 | 12,149 |
Amounts at amortized cost | Over 90 days | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 4,813 | 3,108 |
Amounts at amortized cost | 90 days to 1 year | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | $ 13,379 | $ 9,041 |
Contract Supplier | SQM S.A. | Lease liabilities, current | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Effective rate | 3.49% | 3.49% |
Contract Supplier | SQM Salar S.A. 1 | Lease liabilities, current | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Effective rate | 3.02% | 2.75% |
Contract Supplier | SQM Salar S.A. 2 | Lease liabilities, current | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Effective rate | 2.54% | 2.42% |
Contract Supplier | SQM Industrial S.A. | Lease liabilities, current | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Effective rate | 2.58% | 3.10% |
Contract Supplier | SQM Nitratos S.A. | Lease liabilities, current | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Effective rate | 3.49% | 3.49% |
Contract Supplier | Soquimich Comercial S.A. | Lease liabilities, current | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Effective rate | 2.97% | 2.94% |
Contract Supplier | Orcoma SpA 1 | Lease liabilities, current | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Effective rate | 6.16% | 6.80% |
Contract Supplier | Orcoma SpA 2 | Lease liabilities, current | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Effective rate | 6.80% | 2.53% |
Contract Supplier | SQM Australia Pty | Lease liabilities, current | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Effective rate | 4.93% | |
Contract Supplier | SQM Comercial De México S.A. De C.V. 1 | Lease liabilities, current | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Effective rate | 3.74% | 3.45% |
Contract Supplier | SQM Comercial De México S.A. De C.V. 2 | Lease liabilities, current | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Effective rate | 9.73% | 7.84% |
Contract Supplier | SQM Europe NV | Lease liabilities, current | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Effective rate | 1.30% | 1.30% |
Contract Supplier | SQM North América Corp. | Lease liabilities, current | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Effective rate | 3.67% | 2.90% |
Contract Supplier | SQM África Pty | Lease liabilities, current | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Effective rate | 9.20% | 8.51% |
Contract Supplier | SQM Colombia S.A.S. | Lease liabilities, current | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Effective rate | 2.45% | 1.38% |
Contract Supplier | SQM Iberian | Lease liabilities, current | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Effective rate | 3.25% | |
Contract Supplier | SQM Australia PTY | Lease liabilities, current | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Effective rate | 4.42% | |
Contract Supplier | Nominal amounts | SQM S.A. | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | $ 66 | $ 79 |
Contract Supplier | Nominal amounts | SQM S.A. | Over 90 days | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 20 | 20 |
Contract Supplier | Nominal amounts | SQM S.A. | 90 days to 1 year | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 46 | 59 |
Contract Supplier | Nominal amounts | SQM Salar S.A. 1 | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 1,378 | 1,369 |
Contract Supplier | Nominal amounts | SQM Salar S.A. 1 | Over 90 days | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 344 | 342 |
Contract Supplier | Nominal amounts | SQM Salar S.A. 1 | 90 days to 1 year | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 1,034 | 1,027 |
Contract Supplier | Nominal amounts | SQM Salar S.A. 2 | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 5,532 | 3,939 |
Contract Supplier | Nominal amounts | SQM Salar S.A. 2 | Over 90 days | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 1,492 | 1,010 |
Contract Supplier | Nominal amounts | SQM Salar S.A. 2 | 90 days to 1 year | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 4,040 | 2,929 |
Contract Supplier | Nominal amounts | SQM Industrial S.A. | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 2,589 | 2,703 |
Contract Supplier | Nominal amounts | SQM Industrial S.A. | Over 90 days | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 726 | 676 |
Contract Supplier | Nominal amounts | SQM Industrial S.A. | 90 days to 1 year | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 1,863 | 2,027 |
Contract Supplier | Nominal amounts | SQM Nitratos S.A. | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 61 | 73 |
Contract Supplier | Nominal amounts | SQM Nitratos S.A. | Over 90 days | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 18 | 18 |
Contract Supplier | Nominal amounts | SQM Nitratos S.A. | 90 days to 1 year | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 43 | 55 |
Contract Supplier | Nominal amounts | Soquimich Comercial S.A. | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 1,497 | 1,228 |
Contract Supplier | Nominal amounts | Soquimich Comercial S.A. | Over 90 days | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 374 | 342 |
Contract Supplier | Nominal amounts | Soquimich Comercial S.A. | 90 days to 1 year | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 1,123 | 886 |
Contract Supplier | Nominal amounts | Orcoma SpA 1 | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 9 | 9 |
Contract Supplier | Nominal amounts | Orcoma SpA 1 | Over 90 days | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 2 | 2 |
Contract Supplier | Nominal amounts | Orcoma SpA 1 | 90 days to 1 year | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 7 | 7 |
Contract Supplier | Nominal amounts | Orcoma SpA 2 | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 3 | 5 |
Contract Supplier | Nominal amounts | Orcoma SpA 2 | Over 90 days | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 1 | 1 |
Contract Supplier | Nominal amounts | Orcoma SpA 2 | 90 days to 1 year | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 2 | 4 |
Contract Supplier | Nominal amounts | SQM Australia Pty | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 2,621 | |
Contract Supplier | Nominal amounts | SQM Australia Pty | Over 90 days | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 725 | |
Contract Supplier | Nominal amounts | SQM Australia Pty | 90 days to 1 year | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 1,896 | |
Contract Supplier | Nominal amounts | SQM Comercial De México S.A. De C.V. 1 | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 2,842 | 395 |
Contract Supplier | Nominal amounts | SQM Comercial De México S.A. De C.V. 1 | Over 90 days | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 711 | 99 |
Contract Supplier | Nominal amounts | SQM Comercial De México S.A. De C.V. 1 | 90 days to 1 year | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 2,131 | 296 |
Contract Supplier | Nominal amounts | SQM Comercial De México S.A. De C.V. 2 | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 1,051 | 89 |
Contract Supplier | Nominal amounts | SQM Comercial De México S.A. De C.V. 2 | Over 90 days | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 262 | 27 |
Contract Supplier | Nominal amounts | SQM Comercial De México S.A. De C.V. 2 | 90 days to 1 year | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 789 | 62 |
Contract Supplier | Nominal amounts | SQM Europe NV | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 485 | 408 |
Contract Supplier | Nominal amounts | SQM Europe NV | Over 90 days | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 121 | 102 |
Contract Supplier | Nominal amounts | SQM Europe NV | 90 days to 1 year | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 364 | 306 |
Contract Supplier | Nominal amounts | SQM North América Corp. | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 373 | 410 |
Contract Supplier | Nominal amounts | SQM North América Corp. | Over 90 days | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 106 | 102 |
Contract Supplier | Nominal amounts | SQM North América Corp. | 90 days to 1 year | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 267 | 308 |
Contract Supplier | Nominal amounts | SQM África Pty | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 1,351 | 48 |
Contract Supplier | Nominal amounts | SQM África Pty | Over 90 days | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 344 | 12 |
Contract Supplier | Nominal amounts | SQM África Pty | 90 days to 1 year | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 1,007 | 36 |
Contract Supplier | Nominal amounts | SQM Colombia S.A.S. | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 22 | 22 |
Contract Supplier | Nominal amounts | SQM Colombia S.A.S. | Over 90 days | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 5 | 5 |
Contract Supplier | Nominal amounts | SQM Colombia S.A.S. | 90 days to 1 year | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 17 | 17 |
Contract Supplier | Nominal amounts | SQM Iberian | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 63 | |
Contract Supplier | Nominal amounts | SQM Iberian | Over 90 days | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 15 | |
Contract Supplier | Nominal amounts | SQM Iberian | 90 days to 1 year | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 48 | |
Contract Supplier | Nominal amounts | SQM Australia PTY | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 3,162 | |
Contract Supplier | Nominal amounts | SQM Australia PTY | Over 90 days | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 807 | |
Contract Supplier | Nominal amounts | SQM Australia PTY | 90 days to 1 year | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 2,355 | |
Contract Supplier | Amounts at amortized cost | SQM S.A. | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 65 | 73 |
Contract Supplier | Amounts at amortized cost | SQM S.A. | Over 90 days | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 19 | 18 |
Contract Supplier | Amounts at amortized cost | SQM S.A. | 90 days to 1 year | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 46 | 55 |
Contract Supplier | Amounts at amortized cost | SQM Salar S.A. 1 | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 1,298 | 1,257 |
Contract Supplier | Amounts at amortized cost | SQM Salar S.A. 1 | Over 90 days | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 321 | 311 |
Contract Supplier | Amounts at amortized cost | SQM Salar S.A. 1 | 90 days to 1 year | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 977 | 946 |
Contract Supplier | Amounts at amortized cost | SQM Salar S.A. 2 | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 5,118 | 3,617 |
Contract Supplier | Amounts at amortized cost | SQM Salar S.A. 2 | Over 90 days | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 1,400 | 917 |
Contract Supplier | Amounts at amortized cost | SQM Salar S.A. 2 | 90 days to 1 year | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 3,718 | 2,700 |
Contract Supplier | Amounts at amortized cost | SQM Industrial S.A. | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 2,285 | 2,332 |
Contract Supplier | Amounts at amortized cost | SQM Industrial S.A. | Over 90 days | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 645 | 577 |
Contract Supplier | Amounts at amortized cost | SQM Industrial S.A. | 90 days to 1 year | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 1,640 | 1,755 |
Contract Supplier | Amounts at amortized cost | SQM Nitratos S.A. | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 60 | 69 |
Contract Supplier | Amounts at amortized cost | SQM Nitratos S.A. | Over 90 days | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 18 | 17 |
Contract Supplier | Amounts at amortized cost | SQM Nitratos S.A. | 90 days to 1 year | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 42 | 52 |
Contract Supplier | Amounts at amortized cost | Soquimich Comercial S.A. | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 1,292 | 1,096 |
Contract Supplier | Amounts at amortized cost | Soquimich Comercial S.A. | Over 90 days | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 336 | 306 |
Contract Supplier | Amounts at amortized cost | Soquimich Comercial S.A. | 90 days to 1 year | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 956 | 790 |
Contract Supplier | Amounts at amortized cost | Orcoma SpA 1 | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 4 | 6 |
Contract Supplier | Amounts at amortized cost | Orcoma SpA 1 | Over 90 days | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 2 | 2 |
Contract Supplier | Amounts at amortized cost | Orcoma SpA 1 | 90 days to 1 year | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 2 | 4 |
Contract Supplier | Amounts at amortized cost | Orcoma SpA 2 | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 3 | 5 |
Contract Supplier | Amounts at amortized cost | Orcoma SpA 2 | Over 90 days | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 1 | 1 |
Contract Supplier | Amounts at amortized cost | Orcoma SpA 2 | 90 days to 1 year | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 2 | 4 |
Contract Supplier | Amounts at amortized cost | SQM Australia Pty | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 2,605 | |
Contract Supplier | Amounts at amortized cost | SQM Australia Pty | Over 90 days | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 721 | |
Contract Supplier | Amounts at amortized cost | SQM Australia Pty | 90 days to 1 year | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 1,884 | |
Contract Supplier | Amounts at amortized cost | SQM Comercial De México S.A. De C.V. 1 | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 2,586 | 350 |
Contract Supplier | Amounts at amortized cost | SQM Comercial De México S.A. De C.V. 1 | Over 90 days | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 633 | 86 |
Contract Supplier | Amounts at amortized cost | SQM Comercial De México S.A. De C.V. 1 | 90 days to 1 year | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 1,953 | 264 |
Contract Supplier | Amounts at amortized cost | SQM Comercial De México S.A. De C.V. 2 | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 987 | 85 |
Contract Supplier | Amounts at amortized cost | SQM Comercial De México S.A. De C.V. 2 | Over 90 days | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 240 | 25 |
Contract Supplier | Amounts at amortized cost | SQM Comercial De México S.A. De C.V. 2 | 90 days to 1 year | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 747 | 60 |
Contract Supplier | Amounts at amortized cost | SQM Europe NV | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 381 | 386 |
Contract Supplier | Amounts at amortized cost | SQM Europe NV | Over 90 days | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 94 | 96 |
Contract Supplier | Amounts at amortized cost | SQM Europe NV | 90 days to 1 year | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 287 | 290 |
Contract Supplier | Amounts at amortized cost | SQM North América Corp. | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 341 | 370 |
Contract Supplier | Amounts at amortized cost | SQM North América Corp. | Over 90 days | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 97 | 91 |
Contract Supplier | Amounts at amortized cost | SQM North América Corp. | 90 days to 1 year | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 244 | 279 |
Contract Supplier | Amounts at amortized cost | SQM África Pty | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 1,087 | 35 |
Contract Supplier | Amounts at amortized cost | SQM África Pty | Over 90 days | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 267 | 8 |
Contract Supplier | Amounts at amortized cost | SQM África Pty | 90 days to 1 year | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 820 | 27 |
Contract Supplier | Amounts at amortized cost | SQM Colombia S.A.S. | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 22 | 22 |
Contract Supplier | Amounts at amortized cost | SQM Colombia S.A.S. | Over 90 days | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 5 | 5 |
Contract Supplier | Amounts at amortized cost | SQM Colombia S.A.S. | 90 days to 1 year | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 17 | 17 |
Contract Supplier | Amounts at amortized cost | SQM Iberian | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 58 | |
Contract Supplier | Amounts at amortized cost | SQM Iberian | Over 90 days | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 14 | |
Contract Supplier | Amounts at amortized cost | SQM Iberian | 90 days to 1 year | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | $ 44 | |
Contract Supplier | Amounts at amortized cost | SQM Australia PTY | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 2,446 | |
Contract Supplier | Amounts at amortized cost | SQM Australia PTY | Over 90 days | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | 648 | |
Contract Supplier | Amounts at amortized cost | SQM Australia PTY | 90 days to 1 year | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Current lease liabilities | $ 1,798 |
Right-of-use assets and Lease_6
Right-of-use assets and Lease liabilities - Details of Non-Current Lease Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | $ 56,966 | $ 49,585 |
Nominal amounts | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 60,236 | 64,180 |
Nominal amounts | Over 1 year to 2 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 24,281 | 19,248 |
Nominal amounts | Over 2 years to 3 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 32,165 | 17,082 |
Nominal amounts | Over 3 years to 4 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 3,790 | 27,850 |
Amounts at amortized cost | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 56,966 | 49,585 |
Amounts at amortized cost | Over 1 year to 2 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 23,276 | 17,187 |
Amounts at amortized cost | Over 2 years to 3 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 30,185 | 12,460 |
Amounts at amortized cost | Over 3 years to 4 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | $ 3,505 | $ 19,938 |
Contract Supplier | SQM Salar S.A. 1 | Non-current lease liabilities | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Effective rate | 2.61% | 3.55% |
Contract Supplier | SQM Salar S.A. 1 | Nominal amounts | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | $ 2,255 | $ 3,430 |
Contract Supplier | SQM Salar S.A. 1 | Nominal amounts | Over 1 year to 2 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 1,176 | 1,176 |
Contract Supplier | SQM Salar S.A. 1 | Nominal amounts | Over 2 years to 3 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 1,079 | 1,176 |
Contract Supplier | SQM Salar S.A. 1 | Nominal amounts | Over 3 years to 4 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 0 | 1,078 |
Contract Supplier | SQM Salar S.A. 1 | Amounts at amortized cost | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 2,197 | 3,301 |
Contract Supplier | SQM Salar S.A. 1 | Amounts at amortized cost | Over 1 year to 2 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 1,133 | 1,104 |
Contract Supplier | SQM Salar S.A. 1 | Amounts at amortized cost | Over 2 years to 3 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 1,064 | 1,133 |
Contract Supplier | SQM Salar S.A. 1 | Amounts at amortized cost | Over 3 years to 4 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | $ 0 | $ 1,064 |
Contract Supplier | SQM Salar S.A. 2 | Non-current lease liabilities | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Effective rate | 2.88% | 2.86% |
Contract Supplier | SQM Salar S.A. 2 | Nominal amounts | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | $ 9,913 | $ 7,585 |
Contract Supplier | SQM Salar S.A. 2 | Nominal amounts | Over 1 year to 2 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 6,185 | 5,633 |
Contract Supplier | SQM Salar S.A. 2 | Nominal amounts | Over 2 years to 3 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 3,728 | 1,605 |
Contract Supplier | SQM Salar S.A. 2 | Nominal amounts | Over 3 years to 4 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 0 | 347 |
Contract Supplier | SQM Salar S.A. 2 | Amounts at amortized cost | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 9,531 | 7,254 |
Contract Supplier | SQM Salar S.A. 2 | Amounts at amortized cost | Over 1 year to 2 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 5,901 | 5,363 |
Contract Supplier | SQM Salar S.A. 2 | Amounts at amortized cost | Over 2 years to 3 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 3,630 | 1,545 |
Contract Supplier | SQM Salar S.A. 2 | Amounts at amortized cost | Over 3 years to 4 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | $ 0 | $ 346 |
Contract Supplier | SQM Industrial S.A. | Non-current lease liabilities | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Effective rate | 2.06% | 3.10% |
Contract Supplier | SQM Industrial S.A. | Nominal amounts | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | $ 9,704 | $ 12,019 |
Contract Supplier | SQM Industrial S.A. | Nominal amounts | Over 1 year to 2 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 3,799 | 4,248 |
Contract Supplier | SQM Industrial S.A. | Nominal amounts | Over 2 years to 3 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 5,594 | 5,595 |
Contract Supplier | SQM Industrial S.A. | Nominal amounts | Over 3 years to 4 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 311 | 2,176 |
Contract Supplier | SQM Industrial S.A. | Amounts at amortized cost | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 8,970 | 10,983 |
Contract Supplier | SQM Industrial S.A. | Amounts at amortized cost | Over 1 year to 2 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 3,348 | 3,696 |
Contract Supplier | SQM Industrial S.A. | Amounts at amortized cost | Over 2 years to 3 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 5,312 | 5,152 |
Contract Supplier | SQM Industrial S.A. | Amounts at amortized cost | Over 3 years to 4 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | $ 310 | $ 2,135 |
Contract Supplier | Soquimich Comercial S.A. | Non-current lease liabilities | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Effective rate | 2.97% | 2.24% |
Contract Supplier | Soquimich Comercial S.A. | Nominal amounts | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | $ 2,994 | $ 3,654 |
Contract Supplier | Soquimich Comercial S.A. | Nominal amounts | Over 1 year to 2 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 1,844 | 1,774 |
Contract Supplier | Soquimich Comercial S.A. | Nominal amounts | Over 2 years to 3 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 969 | 1,619 |
Contract Supplier | Soquimich Comercial S.A. | Nominal amounts | Over 3 years to 4 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 181 | 261 |
Contract Supplier | Soquimich Comercial S.A. | Amounts at amortized cost | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 3,131 | 3,401 |
Contract Supplier | Soquimich Comercial S.A. | Amounts at amortized cost | Over 1 year to 2 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 2,020 | 1,612 |
Contract Supplier | Soquimich Comercial S.A. | Amounts at amortized cost | Over 2 years to 3 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 938 | 1,545 |
Contract Supplier | Soquimich Comercial S.A. | Amounts at amortized cost | Over 3 years to 4 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | $ 173 | $ 244 |
Contract Supplier | Orcoma SpA | Non-current lease liabilities | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Effective rate | 6.80% | |
Contract Supplier | Orcoma SpA | Nominal amounts | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | $ 81 | |
Contract Supplier | Orcoma SpA | Nominal amounts | Over 1 year to 2 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 18 | |
Contract Supplier | Orcoma SpA | Nominal amounts | Over 2 years to 3 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 26 | |
Contract Supplier | Orcoma SpA | Nominal amounts | Over 3 years to 4 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 37 | |
Contract Supplier | Orcoma SpA | Amounts at amortized cost | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 61 | |
Contract Supplier | Orcoma SpA | Amounts at amortized cost | Over 1 year to 2 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 8 | |
Contract Supplier | Orcoma SpA | Amounts at amortized cost | Over 2 years to 3 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 12 | |
Contract Supplier | Orcoma SpA | Amounts at amortized cost | Over 3 years to 4 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | $ 41 | |
Contract Supplier | SQM North América Corp. | Non-current lease liabilities | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Effective rate | 4.99% | 3.11% |
Contract Supplier | SQM North América Corp. | Nominal amounts | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | $ 789 | $ 1,121 |
Contract Supplier | SQM North América Corp. | Nominal amounts | Over 1 year to 2 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 524 | 606 |
Contract Supplier | SQM North América Corp. | Nominal amounts | Over 2 years to 3 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 265 | 515 |
Contract Supplier | SQM North América Corp. | Nominal amounts | Over 3 years to 4 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 0 | 0 |
Contract Supplier | SQM North América Corp. | Amounts at amortized cost | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 744 | 1,052 |
Contract Supplier | SQM North América Corp. | Amounts at amortized cost | Over 1 year to 2 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 484 | 554 |
Contract Supplier | SQM North América Corp. | Amounts at amortized cost | Over 2 years to 3 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 260 | 498 |
Contract Supplier | SQM North América Corp. | Amounts at amortized cost | Over 3 years to 4 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | $ 0 | $ 0 |
Contract Supplier | SQM Comercial De México S.A. De C.V. 1 | Non-current lease liabilities | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Effective rate | 6.79% | |
Contract Supplier | SQM Comercial De México S.A. De C.V. 1 | Nominal amounts | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | $ 91 | |
Contract Supplier | SQM Comercial De México S.A. De C.V. 1 | Nominal amounts | Over 1 year to 2 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 91 | |
Contract Supplier | SQM Comercial De México S.A. De C.V. 1 | Nominal amounts | Over 2 years to 3 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 0 | |
Contract Supplier | SQM Comercial De México S.A. De C.V. 1 | Nominal amounts | Over 3 years to 4 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 0 | |
Contract Supplier | SQM Comercial De México S.A. De C.V. 1 | Amounts at amortized cost | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 90 | |
Contract Supplier | SQM Comercial De México S.A. De C.V. 1 | Amounts at amortized cost | Over 1 year to 2 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 90 | |
Contract Supplier | SQM Comercial De México S.A. De C.V. 1 | Amounts at amortized cost | Over 2 years to 3 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 0 | |
Contract Supplier | SQM Comercial De México S.A. De C.V. 1 | Amounts at amortized cost | Over 3 years to 4 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | $ 0 | |
Contract Supplier | SQM Comercial De México S.A. De C.V. 2 | Non-current lease liabilities | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Effective rate | 5.25% | |
Contract Supplier | SQM Comercial De México S.A. De C.V. 2 | Nominal amounts | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | $ 4,328 | |
Contract Supplier | SQM Comercial De México S.A. De C.V. 2 | Nominal amounts | Over 1 year to 2 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 3,197 | |
Contract Supplier | SQM Comercial De México S.A. De C.V. 2 | Nominal amounts | Over 2 years to 3 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 1,131 | |
Contract Supplier | SQM Comercial De México S.A. De C.V. 2 | Nominal amounts | Over 3 years to 4 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 0 | |
Contract Supplier | SQM Comercial De México S.A. De C.V. 2 | Amounts at amortized cost | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 4,145 | |
Contract Supplier | SQM Comercial De México S.A. De C.V. 2 | Amounts at amortized cost | Over 1 year to 2 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 3,040 | |
Contract Supplier | SQM Comercial De México S.A. De C.V. 2 | Amounts at amortized cost | Over 2 years to 3 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 1,105 | |
Contract Supplier | SQM Comercial De México S.A. De C.V. 2 | Amounts at amortized cost | Over 3 years to 4 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | $ 0 | |
Contract Supplier | SQM Australia Pty | Non-current lease liabilities | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Effective rate | 4.92% | |
Contract Supplier | SQM Australia Pty | Nominal amounts | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | $ 23,860 | |
Contract Supplier | SQM Australia Pty | Nominal amounts | Over 1 year to 2 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 5,624 | |
Contract Supplier | SQM Australia Pty | Nominal amounts | Over 2 years to 3 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 18,236 | |
Contract Supplier | SQM Australia Pty | Nominal amounts | Over 3 years to 4 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 0 | |
Contract Supplier | SQM Australia Pty | Amounts at amortized cost | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 22,534 | |
Contract Supplier | SQM Australia Pty | Amounts at amortized cost | Over 1 year to 2 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 5,618 | |
Contract Supplier | SQM Australia Pty | Amounts at amortized cost | Over 2 years to 3 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 16,916 | |
Contract Supplier | SQM Australia Pty | Amounts at amortized cost | Over 3 years to 4 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | $ 0 | |
Contract Supplier | SQM África Pty | Non-current lease liabilities | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Effective rate | 9.20% | 8.51% |
Contract Supplier | SQM África Pty | Nominal amounts | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | $ 2,526 | $ 96 |
Contract Supplier | SQM África Pty | Nominal amounts | Over 1 year to 2 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 1,276 | 12 |
Contract Supplier | SQM África Pty | Nominal amounts | Over 2 years to 3 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 591 | 36 |
Contract Supplier | SQM África Pty | Nominal amounts | Over 3 years to 4 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 659 | 48 |
Contract Supplier | SQM África Pty | Amounts at amortized cost | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 2,246 | 124 |
Contract Supplier | SQM África Pty | Amounts at amortized cost | Over 1 year to 2 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 1,182 | 82 |
Contract Supplier | SQM África Pty | Amounts at amortized cost | Over 2 years to 3 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 483 | 42 |
Contract Supplier | SQM África Pty | Amounts at amortized cost | Over 3 years to 4 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | $ 581 | $ 0 |
Contract Supplier | SQM Colombia S.A.S. | Non-current lease liabilities | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Effective rate | 2.17% | 1.90% |
Contract Supplier | SQM Colombia S.A.S. | Nominal amounts | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | $ 1 | $ 18 |
Contract Supplier | SQM Colombia S.A.S. | Nominal amounts | Over 1 year to 2 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 1 | 18 |
Contract Supplier | SQM Colombia S.A.S. | Nominal amounts | Over 2 years to 3 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 0 | 0 |
Contract Supplier | SQM Colombia S.A.S. | Nominal amounts | Over 3 years to 4 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 0 | 0 |
Contract Supplier | SQM Colombia S.A.S. | Amounts at amortized cost | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 1 | 18 |
Contract Supplier | SQM Colombia S.A.S. | Amounts at amortized cost | Over 1 year to 2 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 1 | 18 |
Contract Supplier | SQM Colombia S.A.S. | Amounts at amortized cost | Over 2 years to 3 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 0 | 0 |
Contract Supplier | SQM Colombia S.A.S. | Amounts at amortized cost | Over 3 years to 4 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | $ 0 | $ 0 |
Contract Supplier | SQM Europe NV | Non-current lease liabilities | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Effective rate | 1.30% | 1.30% |
Contract Supplier | SQM Europe NV | Nominal amounts | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | $ 3,556 | $ 1,452 |
Contract Supplier | SQM Europe NV | Nominal amounts | Over 1 year to 2 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 485 | 888 |
Contract Supplier | SQM Europe NV | Nominal amounts | Over 2 years to 3 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 485 | 564 |
Contract Supplier | SQM Europe NV | Nominal amounts | Over 3 years to 4 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 2,586 | 0 |
Contract Supplier | SQM Europe NV | Amounts at amortized cost | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 3,181 | 1,420 |
Contract Supplier | SQM Europe NV | Amounts at amortized cost | Over 1 year to 2 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 393 | 861 |
Contract Supplier | SQM Europe NV | Amounts at amortized cost | Over 2 years to 3 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 405 | 559 |
Contract Supplier | SQM Europe NV | Amounts at amortized cost | Over 3 years to 4 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | $ 2,383 | $ 0 |
Contract Supplier | SQM Iberian | Non-current lease liabilities | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Effective rate | 3.25% | |
Contract Supplier | SQM Iberian | Nominal amounts | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | $ 138 | |
Contract Supplier | SQM Iberian | Nominal amounts | Over 1 year to 2 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 61 | |
Contract Supplier | SQM Iberian | Nominal amounts | Over 2 years to 3 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 61 | |
Contract Supplier | SQM Iberian | Nominal amounts | Over 3 years to 4 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 16 | |
Contract Supplier | SQM Iberian | Amounts at amortized cost | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 135 | |
Contract Supplier | SQM Iberian | Amounts at amortized cost | Over 1 year to 2 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 58 | |
Contract Supplier | SQM Iberian | Amounts at amortized cost | Over 2 years to 3 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 60 | |
Contract Supplier | SQM Iberian | Amounts at amortized cost | Over 3 years to 4 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | $ 17 | |
Contract Supplier | SQM S.A. | Non-current lease liabilities | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Effective rate | 3.49% | |
Contract Supplier | SQM S.A. | Nominal amounts | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | $ 66 | |
Contract Supplier | SQM S.A. | Nominal amounts | Over 1 year to 2 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 66 | |
Contract Supplier | SQM S.A. | Nominal amounts | Over 2 years to 3 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 0 | |
Contract Supplier | SQM S.A. | Nominal amounts | Over 3 years to 4 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 0 | |
Contract Supplier | SQM S.A. | Amounts at amortized cost | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 65 | |
Contract Supplier | SQM S.A. | Amounts at amortized cost | Over 1 year to 2 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 65 | |
Contract Supplier | SQM S.A. | Amounts at amortized cost | Over 2 years to 3 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 0 | |
Contract Supplier | SQM S.A. | Amounts at amortized cost | Over 3 years to 4 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | $ 0 | |
Contract Supplier | SQM Nitratos S.A. | Non-current lease liabilities | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Effective rate | 3.49% | |
Contract Supplier | SQM Nitratos S.A. | Nominal amounts | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | $ 61 | |
Contract Supplier | SQM Nitratos S.A. | Nominal amounts | Over 1 year to 2 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 61 | |
Contract Supplier | SQM Nitratos S.A. | Nominal amounts | Over 2 years to 3 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 0 | |
Contract Supplier | SQM Nitratos S.A. | Nominal amounts | Over 3 years to 4 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 0 | |
Contract Supplier | SQM Nitratos S.A. | Amounts at amortized cost | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 60 | |
Contract Supplier | SQM Nitratos S.A. | Amounts at amortized cost | Over 1 year to 2 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 60 | |
Contract Supplier | SQM Nitratos S.A. | Amounts at amortized cost | Over 2 years to 3 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 0 | |
Contract Supplier | SQM Nitratos S.A. | Amounts at amortized cost | Over 3 years to 4 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | $ 0 | |
Contract Supplier | Orcoma Estudios SpA 1 | Non-current lease liabilities | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Effective rate | 2.53% | |
Contract Supplier | Orcoma Estudios SpA 1 | Nominal amounts | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | $ 4 | |
Contract Supplier | Orcoma Estudios SpA 1 | Nominal amounts | Over 1 year to 2 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 4 | |
Contract Supplier | Orcoma Estudios SpA 1 | Nominal amounts | Over 2 years to 3 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 0 | |
Contract Supplier | Orcoma Estudios SpA 1 | Nominal amounts | Over 3 years to 4 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 0 | |
Contract Supplier | Orcoma Estudios SpA 1 | Amounts at amortized cost | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 3 | |
Contract Supplier | Orcoma Estudios SpA 1 | Amounts at amortized cost | Over 1 year to 2 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 3 | |
Contract Supplier | Orcoma Estudios SpA 1 | Amounts at amortized cost | Over 2 years to 3 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 0 | |
Contract Supplier | Orcoma Estudios SpA 1 | Amounts at amortized cost | Over 3 years to 4 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | $ 0 | |
Contract Supplier | Orcoma Estudios SpA 2 | Non-current lease liabilities | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Effective rate | 6.80% | |
Contract Supplier | Orcoma Estudios SpA 2 | Nominal amounts | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | $ 90 | |
Contract Supplier | Orcoma Estudios SpA 2 | Nominal amounts | Over 1 year to 2 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 18 | |
Contract Supplier | Orcoma Estudios SpA 2 | Nominal amounts | Over 2 years to 3 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 26 | |
Contract Supplier | Orcoma Estudios SpA 2 | Nominal amounts | Over 3 years to 4 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 46 | |
Contract Supplier | Orcoma Estudios SpA 2 | Amounts at amortized cost | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 66 | |
Contract Supplier | Orcoma Estudios SpA 2 | Amounts at amortized cost | Over 1 year to 2 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 8 | |
Contract Supplier | Orcoma Estudios SpA 2 | Amounts at amortized cost | Over 2 years to 3 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 11 | |
Contract Supplier | Orcoma Estudios SpA 2 | Amounts at amortized cost | Over 3 years to 4 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | $ 47 | |
Contract Supplier | SQM Comercial de México S.A. de C.V. | Non-current lease liabilities | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Effective rate | 3.45% | |
Contract Supplier | SQM Comercial de México S.A. de C.V. | Nominal amounts | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | $ 1,151 | |
Contract Supplier | SQM Comercial de México S.A. de C.V. | Nominal amounts | Over 1 year to 2 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 789 | |
Contract Supplier | SQM Comercial de México S.A. de C.V. | Nominal amounts | Over 2 years to 3 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 362 | |
Contract Supplier | SQM Comercial de México S.A. de C.V. | Nominal amounts | Over 3 years to 4 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 0 | |
Contract Supplier | SQM Comercial de México S.A. de C.V. | Amounts at amortized cost | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 1,094 | |
Contract Supplier | SQM Comercial de México S.A. de C.V. | Amounts at amortized cost | Over 1 year to 2 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 738 | |
Contract Supplier | SQM Comercial de México S.A. de C.V. | Amounts at amortized cost | Over 2 years to 3 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 356 | |
Contract Supplier | SQM Comercial de México S.A. de C.V. | Amounts at amortized cost | Over 3 years to 4 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | $ 0 | |
Contract Supplier | SQM Australia PTY | Non-current lease liabilities | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Effective rate | 4.28% | |
Contract Supplier | SQM Australia PTY | Nominal amounts | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | $ 33,433 | |
Contract Supplier | SQM Australia PTY | Nominal amounts | Over 1 year to 2 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 3,955 | |
Contract Supplier | SQM Australia PTY | Nominal amounts | Over 2 years to 3 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 5,584 | |
Contract Supplier | SQM Australia PTY | Nominal amounts | Over 3 years to 4 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 23,894 | |
Contract Supplier | SQM Australia PTY | Amounts at amortized cost | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 20,744 | |
Contract Supplier | SQM Australia PTY | Amounts at amortized cost | Over 1 year to 2 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 3,023 | |
Contract Supplier | SQM Australia PTY | Amounts at amortized cost | Over 2 years to 3 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | 1,619 | |
Contract Supplier | SQM Australia PTY | Amounts at amortized cost | Over 3 years to 4 years | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Non-current lease liabilities | $ 16,102 |
Right-of-use assets and Lease_7
Right-of-use assets and Lease liabilities - Narrative (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Right-Of-Use Assets And Lease Liabilities | |||
Total lease expenses | $ 93,049 | $ 78,880 | $ 71,897 |
Expense relating to variable lease payments not included in measurement of lease liabilities | 4,700 | 3,631 | 1,313 |
Income from subleasing right-of-use assets | $ 5 | $ 142 | $ 146 |
Intangible assets and goodwil_2
Intangible assets and goodwill - Useful Life and Net Value of Intangible Assets and Goodwill (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure Of Intangible Assets And Goodwill [Line Items] | |||
Intangible assets other than goodwill | $ 155,874 | $ 166,336 | $ 179,658 |
Goodwill | 958 | 967 | 34,596 |
Total intangible assets and goodwill | 156,832 | 167,303 | 214,254 |
IT programs | Intangible assets other than goodwill | |||
Disclosure Of Intangible Assets And Goodwill [Line Items] | |||
Intangible assets other than goodwill | 3,190 | 3,249 | |
Total intangible assets and goodwill | 3,190 | 3,249 | 3,447 |
Mining rights | Intangible assets other than goodwill | |||
Disclosure Of Intangible Assets And Goodwill [Line Items] | |||
Intangible assets other than goodwill | 134,924 | 140,873 | |
Total intangible assets and goodwill | 134,924 | 140,873 | 149,532 |
Water rights and rights of way | Indefinite | |||
Disclosure Of Intangible Assets And Goodwill [Line Items] | |||
Intangible assets other than goodwill | 4,909 | 4,909 | |
Total intangible assets and goodwill | 4,909 | 4,909 | 4,909 |
Water rights | Intangible assets other than goodwill | |||
Disclosure Of Intangible Assets And Goodwill [Line Items] | |||
Intangible assets other than goodwill | 7,580 | 11,369 | |
Total intangible assets and goodwill | 7,580 | 11,369 | 15,158 |
Intellectual property | Intangible assets other than goodwill | |||
Disclosure Of Intangible Assets And Goodwill [Line Items] | |||
Intangible assets other than goodwill | 5,201 | 5,850 | |
Total intangible assets and goodwill | 5,201 | 5,850 | 6,481 |
Other intangible assets | Intangible assets other than goodwill | |||
Disclosure Of Intangible Assets And Goodwill [Line Items] | |||
Intangible assets other than goodwill | 70 | 86 | |
Total intangible assets and goodwill | 70 | 86 | $ 131 |
Goodwill | |||
Disclosure Of Intangible Assets And Goodwill [Line Items] | |||
Goodwill | $ 958 | $ 967 |
Intangible assets and goodwil_3
Intangible assets and goodwill - Movements in Identifiable Intangible Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure Of Intangible Assets And Goodwill [Line Items] | ||
Opening balance | $ 167,303 | $ 214,254 |
Additions | 408 | 1,504 |
Amortization for the year | (10,601) | (13,845) |
Impairment losses recognized in income for the year | (9) | (34,857) |
Other increases / decreases for foreign currency exchange rates | 3 | (159) |
Other increases (decreases) | (272) | 406 |
Subtotal | (10,471) | (46,951) |
Closing balance | 156,832 | 167,303 |
Indefinite | Goodwill | ||
Disclosure Of Intangible Assets And Goodwill [Line Items] | ||
Opening balance | 967 | 34,596 |
Additions | 0 | 0 |
Impairment losses recognized in income for the year | (9) | (33,629) |
Other increases / decreases for foreign currency exchange rates | 0 | 0 |
Other increases (decreases) | 0 | 0 |
Subtotal | (9) | (33,629) |
Closing balance | 958 | 967 |
Historical cost | ||
Disclosure Of Intangible Assets And Goodwill [Line Items] | ||
Opening balance | 238,600 | |
Closing balance | 238,730 | 238,600 |
Historical cost | Indefinite | Goodwill | ||
Disclosure Of Intangible Assets And Goodwill [Line Items] | ||
Opening balance | 4,501 | |
Closing balance | 4,492 | 4,501 |
Accumulated amortization | ||
Disclosure Of Intangible Assets And Goodwill [Line Items] | ||
Opening balance | (71,297) | |
Closing balance | (81,898) | (71,297) |
Accumulated amortization | Indefinite | Goodwill | ||
Disclosure Of Intangible Assets And Goodwill [Line Items] | ||
Opening balance | (3,534) | |
Closing balance | (3,534) | (3,534) |
IT programs | Intangible assets other than goodwill | ||
Disclosure Of Intangible Assets And Goodwill [Line Items] | ||
Opening balance | 3,249 | 3,447 |
Additions | 197 | 349 |
Amortization for the year | (1,451) | (1,039) |
Impairment losses recognized in income for the year | 0 | 0 |
Other increases / decreases for foreign currency exchange rates | 6 | (4) |
Other increases (decreases) | 1,189 | 496 |
Subtotal | (59) | (198) |
Closing balance | 3,190 | 3,249 |
IT programs | Historical cost | Intangible assets other than goodwill | ||
Disclosure Of Intangible Assets And Goodwill [Line Items] | ||
Opening balance | 36,457 | |
Closing balance | 37,849 | 36,457 |
IT programs | Accumulated amortization | Intangible assets other than goodwill | ||
Disclosure Of Intangible Assets And Goodwill [Line Items] | ||
Opening balance | (33,208) | |
Closing balance | (34,659) | (33,208) |
Mining rights | Intangible assets other than goodwill | ||
Disclosure Of Intangible Assets And Goodwill [Line Items] | ||
Opening balance | 140,873 | 149,532 |
Additions | 196 | 1,141 |
Amortization for the year | (4,684) | (8,482) |
Impairment losses recognized in income for the year | 0 | (1,228) |
Other increases / decreases for foreign currency exchange rates | 0 | 0 |
Other increases (decreases) | (1,461) | (90) |
Subtotal | (5,949) | (8,659) |
Closing balance | 134,924 | 140,873 |
Mining rights | Historical cost | Intangible assets other than goodwill | ||
Disclosure Of Intangible Assets And Goodwill [Line Items] | ||
Opening balance | 162,716 | |
Closing balance | 161,451 | 162,716 |
Mining rights | Accumulated amortization | Intangible assets other than goodwill | ||
Disclosure Of Intangible Assets And Goodwill [Line Items] | ||
Opening balance | (21,843) | |
Closing balance | (26,527) | (21,843) |
Water rights and rights of way | Indefinite | ||
Disclosure Of Intangible Assets And Goodwill [Line Items] | ||
Opening balance | 4,909 | 4,909 |
Additions | 0 | 0 |
Impairment losses recognized in income for the year | 0 | 0 |
Other increases / decreases for foreign currency exchange rates | 0 | 0 |
Other increases (decreases) | 0 | 0 |
Subtotal | 0 | 0 |
Closing balance | 4,909 | 4,909 |
Water rights and rights of way | Historical cost | Indefinite | ||
Disclosure Of Intangible Assets And Goodwill [Line Items] | ||
Opening balance | 7,420 | |
Closing balance | 7,420 | 7,420 |
Water rights and rights of way | Accumulated amortization | Indefinite | ||
Disclosure Of Intangible Assets And Goodwill [Line Items] | ||
Opening balance | (2,511) | |
Closing balance | (2,511) | (2,511) |
Water rights | Intangible assets other than goodwill | ||
Disclosure Of Intangible Assets And Goodwill [Line Items] | ||
Opening balance | 11,369 | 15,158 |
Additions | 0 | 0 |
Amortization for the year | (3,789) | (3,789) |
Impairment losses recognized in income for the year | 0 | 0 |
Other increases / decreases for foreign currency exchange rates | 0 | 0 |
Other increases (decreases) | 0 | 0 |
Subtotal | (3,789) | (3,789) |
Closing balance | 7,580 | 11,369 |
Water rights | Historical cost | Intangible assets other than goodwill | ||
Disclosure Of Intangible Assets And Goodwill [Line Items] | ||
Opening balance | 18,000 | |
Closing balance | 18,000 | 18,000 |
Water rights | Accumulated amortization | Intangible assets other than goodwill | ||
Disclosure Of Intangible Assets And Goodwill [Line Items] | ||
Opening balance | (6,631) | |
Closing balance | (10,420) | (6,631) |
Intellectual property | Intangible assets other than goodwill | ||
Disclosure Of Intangible Assets And Goodwill [Line Items] | ||
Opening balance | 5,850 | 6,481 |
Additions | 0 | 0 |
Amortization for the year | (649) | (476) |
Impairment losses recognized in income for the year | 0 | 0 |
Other increases / decreases for foreign currency exchange rates | 0 | (155) |
Other increases (decreases) | 0 | 0 |
Subtotal | (649) | (631) |
Closing balance | 5,201 | 5,850 |
Intellectual property | Historical cost | Intangible assets other than goodwill | ||
Disclosure Of Intangible Assets And Goodwill [Line Items] | ||
Opening balance | 7,215 | |
Closing balance | 7,215 | 7,215 |
Intellectual property | Accumulated amortization | Intangible assets other than goodwill | ||
Disclosure Of Intangible Assets And Goodwill [Line Items] | ||
Opening balance | (1,365) | |
Closing balance | (2,014) | (1,365) |
Other intangible assets | Intangible assets other than goodwill | ||
Disclosure Of Intangible Assets And Goodwill [Line Items] | ||
Opening balance | 86 | 131 |
Additions | 15 | 14 |
Amortization for the year | (28) | (59) |
Impairment losses recognized in income for the year | 0 | 0 |
Other increases / decreases for foreign currency exchange rates | (3) | 0 |
Other increases (decreases) | 0 | 0 |
Subtotal | (16) | (45) |
Closing balance | 70 | 86 |
Other intangible assets | Historical cost | Intangible assets other than goodwill | ||
Disclosure Of Intangible Assets And Goodwill [Line Items] | ||
Opening balance | 2,291 | |
Closing balance | 2,303 | 2,291 |
Other intangible assets | Accumulated amortization | Intangible assets other than goodwill | ||
Disclosure Of Intangible Assets And Goodwill [Line Items] | ||
Opening balance | (2,205) | |
Closing balance | $ (2,233) | $ (2,205) |
Intangible assets and goodwil_4
Intangible assets and goodwill - Narrative (Details) $ in Thousands | 3 Months Ended |
Dec. 31, 2022 USD ($) | |
Intangible assets and goodwill [abstract] | |
Impairment loss | $ 34,149 |
Intangible assets and goodwil_5
Intangible assets and goodwill - Movements in Identifiable Goodwill (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Changes in goodwill [abstract] | ||
Goodwill, beginning balance | $ 967 | $ 34,596 |
Goodwill, ending balance | 958 | 967 |
Carrying amount | ||
Changes in goodwill [abstract] | ||
Goodwill, beginning balance | 967 | 34,596 |
Additional recognition | 0 | 0 |
Impairment losses recognized in income for the year | (9) | (33,629) |
Total increase (decrease) | (9) | (33,629) |
Goodwill, ending balance | 958 | 967 |
Carrying amount | SQM Iberian S.A. | ||
Changes in goodwill [abstract] | ||
Goodwill, beginning balance | 148 | 148 |
Additional recognition | 0 | 0 |
Impairment losses recognized in income for the year | 0 | 0 |
Total increase (decrease) | 0 | 0 |
Goodwill, ending balance | 148 | 148 |
Carrying amount | SQM Investment Corporation N.V. | ||
Changes in goodwill [abstract] | ||
Goodwill, beginning balance | 86 | |
Additional recognition | 0 | |
Impairment losses recognized in income for the year | 0 | |
Total increase (decrease) | 0 | |
Goodwill, ending balance | 86 | 86 |
Carrying amount | Soquimich European holding B.V. | ||
Changes in goodwill [abstract] | ||
Goodwill, beginning balance | 9 | 11,383 |
Additional recognition | 0 | 0 |
Impairment losses recognized in income for the year | (9) | (11,374) |
Total increase (decrease) | (9) | (11,374) |
Goodwill, ending balance | 0 | 9 |
Carrying amount | SQM Potasio S.A. | ||
Changes in goodwill [abstract] | ||
Goodwill, beginning balance | 724 | |
Additional recognition | 0 | |
Impairment losses recognized in income for the year | 0 | |
Total increase (decrease) | 0 | |
Goodwill, ending balance | 724 | 724 |
Carrying amount | SQM S.A. | ||
Changes in goodwill [abstract] | ||
Goodwill, beginning balance | 0 | 22,255 |
Additional recognition | 0 | |
Impairment losses recognized in income for the year | (22,255) | |
Total increase (decrease) | (22,255) | |
Goodwill, ending balance | 0 | |
Carrying amount | SQM Investment Corporation | ||
Changes in goodwill [abstract] | ||
Goodwill, beginning balance | 86 | 86 |
Additional recognition | 0 | |
Impairment losses recognized in income for the year | 0 | |
Total increase (decrease) | 0 | |
Goodwill, ending balance | 86 | |
Carrying amount | SQM Potasio S.A. | ||
Changes in goodwill [abstract] | ||
Goodwill, beginning balance | $ 724 | 724 |
Additional recognition | 0 | |
Impairment losses recognized in income for the year | 0 | |
Total increase (decrease) | 0 | |
Goodwill, ending balance | $ 724 |
Property, plant and equipment -
Property, plant and equipment - Types and Classes of Property, Plant and Equipment (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 |
Property, plant and equipment [abstract] | |||
Land | $ 23,481 | $ 23,482 | |
Buildings | 285,487 | 273,913 | |
Other property, plant and equipment | 62,739 | 34,960 | |
Transport equipment | 9,165 | 9,487 | |
Supplies and accessories | 4,139 | 4,798 | |
Office equipment | 1,158 | 1,355 | |
Network and communication equipment | 1,605 | 1,872 | |
Mining assets | 154,715 | 60,284 | |
IT equipment | 2,092 | 3,147 | |
Energy generating assets | 2,893 | 3,253 | |
Constructions in progress | 1,834,041 | 1,328,508 | |
Machinery, plant and equipment | 1,228,422 | 981,779 | |
Total | 3,609,937 | 2,726,838 | $ 2,012,225 |
Description Of Classes Of Property, Plant And Equipment [Abstract] | |||
Pumps | 61,385 | 32,120 | |
Conveyor Belt | 16,589 | 17,135 | |
Crystallizer | 56,930 | 48,582 | |
Plant Equipment | 285,653 | 163,594 | |
Tanks | 39,422 | 25,923 | |
Filter | 69,246 | 47,976 | |
Electrical equipment/facilities | 110,255 | 110,275 | |
Other Property, Plant & Equipment | 68,967 | 112,628 | |
Site Closure | 40,696 | 36,673 | |
Piping | 142,013 | 107,481 | |
Well | 156,621 | 177,708 | |
Pond | 34,957 | 41,729 | |
Spare Parts | 145,688 | 59,955 | |
Total | 1,228,422 | 981,779 | |
Historical cost | |||
Property, plant and equipment [abstract] | |||
Land | 23,481 | 23,482 | |
Buildings | 851,706 | 803,398 | |
Other property, plant and equipment | 291,053 | 250,058 | |
Transport equipment | 22,143 | 21,343 | |
Supplies and accessories | 31,132 | 29,426 | |
Office equipment | 13,346 | 13,141 | |
Network and communication equipment | 11,644 | 10,878 | |
Mining assets | 341,837 | 230,803 | |
IT equipment | 29,384 | 31,197 | |
Energy generating assets | 38,929 | 38,540 | |
Constructions in progress | 1,834,041 | 1,328,508 | |
Machinery, plant and equipment | 4,189,794 | 3,716,440 | |
Total | 7,678,490 | 6,497,214 | |
Description Of Classes Of Property, Plant And Equipment [Abstract] | |||
Total | 4,189,794 | 3,716,440 | |
Accumulated depreciation and amortization | |||
Property, plant and equipment [abstract] | |||
Buildings | (566,219) | (529,485) | |
Other property, plant and equipment | (228,314) | (215,098) | |
Transport equipment | (12,978) | (11,856) | |
Supplies and accessories | (26,993) | (24,628) | |
Office equipment | (12,188) | (11,786) | |
Network and communication equipment | (10,039) | (9,006) | |
Mining assets | (187,122) | (170,519) | |
IT equipment | (27,292) | (28,050) | |
Energy generating assets | (36,036) | (35,287) | |
Machinery, plant and equipment | (2,961,372) | (2,734,661) | |
Total | (4,068,553) | (3,770,376) | |
Description Of Classes Of Property, Plant And Equipment [Abstract] | |||
Total | $ (2,961,372) | $ (2,734,661) |
Property, plant and equipment_2
Property, plant and equipment - Provision for Spare Parts (Details) - Spare Parts - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balance | $ 52,072 | $ 48,262 |
Increase in provision | 6,528 | 3,810 |
Closing balance | $ 58,600 | $ 52,072 |
Property, plant and equipment_3
Property, plant and equipment - Changes in Property, Plant and Equipment by Type (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balance | $ 2,726,838 | $ 2,012,225 |
Changes | ||
Additions | 1,095,207 | 931,383 |
Disposals | (18) | (19) |
Depreciation for the year | (252,747) | (218,713) |
Impairment | (47,059) | (8,084) |
Increase (decrease) in foreign currency translation difference | (98) | (33) |
Reclassifications | 0 | 0 |
Other increases (decreases) | 87,814 | 10,307 |
Decreases for classification as held for sale | 0 | (228) |
Subtotal | 883,099 | 714,613 |
Closing balance | 3,609,937 | 2,726,838 |
Historical cost | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balance | 6,497,214 | |
Changes | ||
Closing balance | 7,678,490 | 6,497,214 |
Accumulated amortization | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balance | (3,770,376) | |
Changes | ||
Closing balance | (4,068,553) | (3,770,376) |
Land | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balance | 23,482 | 23,507 |
Changes | ||
Additions | 0 | 0 |
Disposals | 0 | 0 |
Depreciation for the year | 0 | 0 |
Impairment | 0 | 0 |
Increase (decrease) in foreign currency translation difference | (6) | (5) |
Reclassifications | 0 | 121 |
Other increases (decreases) | 5 | 0 |
Decreases for classification as held for sale | 0 | (141) |
Subtotal | (1) | (25) |
Closing balance | 23,481 | 23,482 |
Land | Historical cost | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balance | 23,482 | |
Changes | ||
Closing balance | 23,481 | 23,482 |
Land | Accumulated amortization | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balance | 0 | |
Changes | ||
Closing balance | 0 | 0 |
Buildings | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balance | 273,913 | 270,563 |
Changes | ||
Additions | 0 | 495 |
Disposals | 0 | 0 |
Depreciation for the year | (37,315) | (32,915) |
Impairment | 0 | (156) |
Increase (decrease) in foreign currency translation difference | (7) | (7) |
Reclassifications | 48,677 | 37,147 |
Other increases (decreases) | 219 | (1,127) |
Decreases for classification as held for sale | 0 | (87) |
Subtotal | 11,574 | 3,350 |
Closing balance | 285,487 | 273,913 |
Buildings | Historical cost | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balance | 803,398 | |
Changes | ||
Closing balance | 851,706 | 803,398 |
Buildings | Accumulated amortization | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balance | (529,485) | |
Changes | ||
Closing balance | (566,219) | (529,485) |
Other property, plant and equipment | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balance | 34,960 | 32,846 |
Changes | ||
Additions | 545 | 425 |
Disposals | 0 | 0 |
Depreciation for the year | (13,337) | (8,691) |
Impairment | 0 | 0 |
Increase (decrease) in foreign currency translation difference | (35) | 0 |
Reclassifications | 40,657 | 10,449 |
Other increases (decreases) | (51) | (69) |
Decreases for classification as held for sale | 0 | 0 |
Subtotal | 27,779 | 2,114 |
Closing balance | 62,739 | 34,960 |
Other property, plant and equipment | Historical cost | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balance | 250,058 | |
Changes | ||
Closing balance | 291,053 | 250,058 |
Other property, plant and equipment | Accumulated amortization | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balance | (215,098) | |
Changes | ||
Closing balance | (228,314) | (215,098) |
Transport equipment | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balance | 9,487 | 2,463 |
Changes | ||
Additions | 0 | 146 |
Disposals | 0 | 0 |
Depreciation for the year | (1,155) | (962) |
Impairment | 0 | 0 |
Increase (decrease) in foreign currency translation difference | (1) | 0 |
Reclassifications | 801 | 7,840 |
Other increases (decreases) | 33 | 0 |
Decreases for classification as held for sale | 0 | 0 |
Subtotal | (322) | 7,024 |
Closing balance | 9,165 | 9,487 |
Transport equipment | Historical cost | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balance | 21,343 | |
Changes | ||
Closing balance | 22,143 | 21,343 |
Transport equipment | Accumulated amortization | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balance | (11,856) | |
Changes | ||
Closing balance | (12,978) | (11,856) |
Supplies and accessories | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balance | 4,798 | 5,556 |
Changes | ||
Additions | 52 | 4 |
Disposals | 0 | 0 |
Depreciation for the year | (1,809) | (1,400) |
Impairment | 0 | 0 |
Increase (decrease) in foreign currency translation difference | 0 | 0 |
Reclassifications | 1,099 | 726 |
Other increases (decreases) | (1) | (88) |
Decreases for classification as held for sale | 0 | 0 |
Subtotal | (659) | (758) |
Closing balance | 4,139 | 4,798 |
Supplies and accessories | Historical cost | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balance | 29,426 | |
Changes | ||
Closing balance | 31,132 | 29,426 |
Supplies and accessories | Accumulated amortization | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balance | (24,628) | |
Changes | ||
Closing balance | (26,993) | (24,628) |
Office equipment | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balance | 1,355 | 1,386 |
Changes | ||
Additions | 8 | 7 |
Disposals | 0 | 0 |
Depreciation for the year | (230) | (248) |
Impairment | 0 | 0 |
Increase (decrease) in foreign currency translation difference | (7) | (1) |
Reclassifications | 31 | 213 |
Other increases (decreases) | 1 | (2) |
Decreases for classification as held for sale | 0 | 0 |
Subtotal | (197) | (31) |
Closing balance | 1,158 | 1,355 |
Office equipment | Historical cost | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balance | 13,141 | |
Changes | ||
Closing balance | 13,346 | 13,141 |
Office equipment | Accumulated amortization | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balance | (11,786) | |
Changes | ||
Closing balance | (12,188) | (11,786) |
Network and communication equipment | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balance | 1,872 | 1,359 |
Changes | ||
Additions | 208 | 152 |
Disposals | 0 | 0 |
Depreciation for the year | (670) | (788) |
Impairment | 0 | 0 |
Increase (decrease) in foreign currency translation difference | 0 | 0 |
Reclassifications | 195 | 1,149 |
Other increases (decreases) | 0 | 0 |
Decreases for classification as held for sale | 0 | 0 |
Subtotal | (267) | 513 |
Closing balance | 1,605 | 1,872 |
Network and communication equipment | Historical cost | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balance | 10,878 | |
Changes | ||
Closing balance | 11,644 | 10,878 |
Network and communication equipment | Accumulated amortization | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balance | (9,006) | |
Changes | ||
Closing balance | (10,039) | (9,006) |
Mining assets | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balance | 60,284 | 38,241 |
Changes | ||
Additions | 0 | 0 |
Disposals | 0 | 0 |
Depreciation for the year | (16,603) | (12,871) |
Impairment | 0 | 0 |
Increase (decrease) in foreign currency translation difference | 0 | 0 |
Reclassifications | 111,059 | 34,914 |
Other increases (decreases) | (25) | 0 |
Decreases for classification as held for sale | 0 | 0 |
Subtotal | 94,431 | 22,043 |
Closing balance | 154,715 | 60,284 |
Mining assets | Historical cost | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balance | 230,803 | |
Changes | ||
Closing balance | 341,837 | 230,803 |
Mining assets | Accumulated amortization | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balance | (170,519) | |
Changes | ||
Closing balance | (187,122) | (170,519) |
IT equipment | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balance | 3,147 | 3,570 |
Changes | ||
Additions | 207 | 270 |
Disposals | (1) | 0 |
Depreciation for the year | (890) | (1,256) |
Impairment | 0 | 0 |
Increase (decrease) in foreign currency translation difference | (3) | 0 |
Reclassifications | (447) | 582 |
Other increases (decreases) | 79 | (19) |
Decreases for classification as held for sale | 0 | 0 |
Subtotal | (1,055) | (423) |
Closing balance | 2,092 | 3,147 |
IT equipment | Historical cost | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balance | 31,197 | |
Changes | ||
Closing balance | 29,384 | 31,197 |
IT equipment | Accumulated amortization | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balance | (28,050) | |
Changes | ||
Closing balance | (27,292) | (28,050) |
Energy generating assets | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balance | 3,253 | 3,970 |
Changes | ||
Additions | 0 | 0 |
Disposals | 0 | 0 |
Depreciation for the year | (749) | (717) |
Impairment | 0 | 0 |
Increase (decrease) in foreign currency translation difference | 0 | 0 |
Reclassifications | 389 | 0 |
Other increases (decreases) | 0 | 0 |
Decreases for classification as held for sale | 0 | 0 |
Subtotal | (360) | (717) |
Closing balance | 2,893 | 3,253 |
Energy generating assets | Historical cost | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balance | 38,540 | |
Changes | ||
Closing balance | 38,929 | 38,540 |
Energy generating assets | Accumulated amortization | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balance | (35,287) | |
Changes | ||
Closing balance | (36,036) | (35,287) |
Assets under construction | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balance | 1,328,508 | 731,787 |
Changes | ||
Additions | 1,091,840 | 922,690 |
Disposals | 0 | 0 |
Depreciation for the year | 0 | |
Impairment | 0 | 0 |
Increase (decrease) in foreign currency translation difference | 0 | 0 |
Reclassifications | (588,635) | (316,994) |
Other increases (decreases) | 2,328 | (8,975) |
Decreases for classification as held for sale | 0 | 0 |
Subtotal | 505,533 | 596,721 |
Closing balance | 1,834,041 | 1,328,508 |
Assets under construction | Historical cost | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balance | 1,328,508 | |
Changes | ||
Closing balance | 1,834,041 | 1,328,508 |
Assets under construction | Accumulated amortization | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balance | 0 | |
Changes | ||
Closing balance | 0 | 0 |
Machinery, plant and equipment | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balance | 981,779 | 896,977 |
Changes | ||
Additions | 2,347 | 7,194 |
Disposals | (17) | (19) |
Depreciation for the year | (179,989) | (158,865) |
Impairment | (47,059) | (7,928) |
Increase (decrease) in foreign currency translation difference | (39) | (20) |
Reclassifications | 386,174 | 223,853 |
Other increases (decreases) | 85,226 | 20,587 |
Decreases for classification as held for sale | 0 | 0 |
Subtotal | 246,643 | 84,802 |
Closing balance | 1,228,422 | 981,779 |
Machinery, plant and equipment | Historical cost | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balance | 3,716,440 | |
Changes | ||
Closing balance | 4,189,794 | 3,716,440 |
Machinery, plant and equipment | Accumulated amortization | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balance | (2,734,661) | |
Changes | ||
Closing balance | $ (2,961,372) | $ (2,734,661) |
Property, plant and equipment_4
Property, plant and equipment - Costs of Capitalized Interest (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure of detailed information about property, plant and equipment [abstract] | ||
Weighted average capitalization rate of capitalized interest costs, percentage | 5% | 4% |
Amount of interest cost capitalized | $ 43,331 | $ 24,708 |
Other current and non-current_3
Other current and non-current non-financial assets (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of other non-financial assets [Line Items] | ||
Other non-financial assets, current | $ 136,750 | $ 196,335 |
Other non-current non-financial assets | 373,700 | 52,396 |
Domestic Value Added Tax | ||
Disclosure of other non-financial assets [Line Items] | ||
Other non-financial assets, current | 63,973 | 81,361 |
Foreign Value Added Tax | ||
Disclosure of other non-financial assets [Line Items] | ||
Other non-financial assets, current | 24,889 | 66,926 |
Other non-current non-financial assets | 308,084 | 0 |
Prepaid mining licenses | ||
Disclosure of other non-financial assets [Line Items] | ||
Other non-financial assets, current | 1,299 | 1,122 |
Prepaid insurance | ||
Disclosure of other non-financial assets [Line Items] | ||
Other non-financial assets, current | 15,022 | 33,896 |
Other prepayments | ||
Disclosure of other non-financial assets [Line Items] | ||
Other non-financial assets, current | 3,204 | 1,230 |
Refund of Value Added Tax to exporters | ||
Disclosure of other non-financial assets [Line Items] | ||
Other non-financial assets, current | 19,929 | 3,020 |
Other taxes | ||
Disclosure of other non-financial assets [Line Items] | ||
Other non-financial assets, current | 6,142 | 7,512 |
Other assets | ||
Disclosure of other non-financial assets [Line Items] | ||
Other non-financial assets, current | 2,292 | 1,268 |
Other non-current non-financial assets | 7,208 | 7,656 |
Exploration and evaluation expenses | ||
Disclosure of other non-financial assets [Line Items] | ||
Other non-current non-financial assets | 57,458 | 44,023 |
Guarantee deposits | ||
Disclosure of other non-financial assets [Line Items] | ||
Other non-current non-financial assets | $ 950 | $ 717 |
Other current and non-current_4
Other current and non-current non-financial assets - Movements in Assets for Exploration (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Other Current And Non-Current Non-Financial Assets | |||
Opening balance | $ 44,023 | $ 26,752 | $ 17,883 |
Changes | |||
Additions | 12,002 | 11,341 | 8,071 |
Reclassifications from/to short-term (inventory) | 1,049 | (465) | 83 |
Amortization of ground studies | (2,131) | (2,421) | (1,360) |
Reclassification from construction in progress | 2,515 | 8,816 | 2,075 |
Total changes | 13,435 | 17,271 | 8,869 |
Ending balance | $ 57,458 | $ 44,023 | $ 26,752 |
Other current and non-current_5
Other current and non-current non-financial assets - Explorations in Execution (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure Of Disbursements For Exploration And Evaluation [Line Items] | ||
Chile | $ 1,834,041 | $ 1,328,508 |
Explorations in execution | ||
Disclosure Of Disbursements For Exploration And Evaluation [Line Items] | ||
Chile | 9,062 | 3,699 |
Explorations in execution | Chile | ||
Disclosure Of Disbursements For Exploration And Evaluation [Line Items] | ||
Chile | $ 9,062 | $ 3,699 |
Other current and non-current_6
Other current and non-current non-financial assets - Conciliation of Explorations in Execution (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Other Current And Non-Current Non-Financial Assets | |||
Opening balance | $ 3,699 | $ 1,000 | |
Disbursements | $ 6,095 | 4,227 | |
Reclassifications | (732) | (1,528) | |
Total changes | 5,363 | 2,699 | |
Total | $ 9,062 | $ 3,699 |
Other current and non-current_7
Other current and non-current non-financial assets - Reimbursements for Exploration and Evaluation (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Metallic/Non-Metallic | ||
Disclosure Of Detailed Information About Reimbursements For Exploration And Evaluation [Line Items] | ||
Prospecting | $ 50,844 | $ 36,327 |
Metallic/Non-Metallic | Chile | ||
Disclosure Of Detailed Information About Reimbursements For Exploration And Evaluation [Line Items] | ||
Prospecting | 50,844 | 36,327 |
Non Metallic Exploration | Chile | ||
Disclosure Of Detailed Information About Reimbursements For Exploration And Evaluation [Line Items] | ||
Prospecting | 13,803 | 11,417 |
Metallic Exploration | Chile | ||
Disclosure Of Detailed Information About Reimbursements For Exploration And Evaluation [Line Items] | ||
Prospecting | $ 37,041 | $ 24,910 |
Other current and non-current_8
Other current and non-current non-financial assets - Prospecting Conciliation (Details) - Metallic Exploration - Chile - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Detailed Information About Reconciliation Of Economically Feasible Metalic Explorations [Line Items] | |||
Opening balance | $ 36,327 | $ 18,154 | |
Additions | $ 12,002 | 11,341 | |
Reclassifications from Exploration in execution – Chile | 2,515 | 8,864 | |
Reclassifications to Exploration in Exploitation-Chile | 0 | (2,032) | |
Total changes | 14,517 | 18,173 | |
Total | $ 50,844 | $ 36,327 |
Other current and non-current_9
Other current and non-current non-financial assets - Short and Long-Term Exploitation Conciliation (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Detailed Information About Short Term And Long Term Exploitation Conciliation [Line Items] | |||
Amortization of ground studies | $ (2,131) | $ (2,421) | $ (1,360) |
Short-Term Exploitation Conciliation | |||
Detailed Information About Short Term And Long Term Exploitation Conciliation [Line Items] | |||
Opening balance | 1,700 | 1,235 | |
Amortization of ground studies | 0 | 0 | |
Reclasifications from/to short term (inventories) | (1,049) | 465 | |
Total changes | (1,049) | 465 | |
Total | 651 | 1,700 | 1,235 |
Long-Term Exploitation Conciliation | |||
Detailed Information About Short Term And Long Term Exploitation Conciliation [Line Items] | |||
Opening balance | 7,696 | 8,598 | |
Amortization of ground studies | (2,131) | (2,421) | |
Reclasifications from/to short term (inventories) | 1,049 | 1,519 | |
Total changes | (1,082) | (902) | |
Total | $ 6,614 | $ 7,696 | $ 8,598 |
Employee benefits - Classes of
Employee benefits - Classes of Benefits and Expenses by Employee (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Current | ||
Profit sharing and bonuses | $ 0 | $ 2,270 |
Performance bonus and operational targets | 23,946 | 33,106 |
Total | 23,946 | 35,376 |
Non-current | ||
Profit sharing and bonuses | 18,428 | 8,973 |
Severance indemnity payments | 43,578 | 34,899 |
Total | $ 62,006 | $ 43,872 |
Employee benefits - Narrative (
Employee benefits - Narrative (Details) CLF in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | ||||
Apr. 26, 2023 CLF | Apr. 26, 2022 CLF | Mar. 31, 2023 USD ($) | Dec. 31, 2023 USD ($) executive shares | Dec. 31, 2022 USD ($) shares | Dec. 31, 2021 USD ($) | |
Employee benefits [Line Items] | ||||||
Number of company executives entitled to benefits | executive | 41 | |||||
Key management personnel compensation | CLF | CLF 600 | CLF 600 | ||||
Executive compensation plan | ||||||
Employee benefits [Line Items] | ||||||
Number of shares effected | shares | 18,428 | 8,495 | ||||
Key management personnel compensation | $ | $ 9,933 | $ 8,495 | ||||
Financial target compensation plan | ||||||
Employee benefits [Line Items] | ||||||
Number of shares effected | shares | 188,740 | |||||
Key management personnel compensation | $ | $ 2,390 | $ 2,251 | $ 5,978 | |||
Men | ||||||
Employee benefits [Line Items] | ||||||
Actuarial assumption of retirement age (in years) | 65 years | 65 years | 65 years | |||
Men | Top of range | ||||||
Employee benefits [Line Items] | ||||||
Actuarial assumption of retirement age (in years) | 65 years | |||||
Women | ||||||
Employee benefits [Line Items] | ||||||
Actuarial assumption of retirement age (in years) | 60 years | 60 years | 60 years | |||
Women | Top of range | ||||||
Employee benefits [Line Items] | ||||||
Actuarial assumption of retirement age (in years) | 60 years |
Employee benefits - Changes in
Employee benefits - Changes in the Benefit Obligation (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Employee Benefits | |||
Benefit obligation at the beginning of the year | $ 279 | $ 9,550 | $ 9,864 |
Current cost of service | 0 | 0 | 0 |
Interest cost | 12 | 255 | 240 |
Actuarial gain (loss) | 180 | (1,357) | (135) |
Settlement | 0 | (7,739) | 0 |
Benefits paid | (185) | (430) | (419) |
Benefit obligation at the end of the year | $ 286 | $ 279 | $ 9,550 |
Employee benefits - Changes i_2
Employee benefits - Changes in Plan Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Employee Benefits | |||
Fair value of plan assets at the start of the year | $ 4,982 | $ 13,497 | $ 12,888 |
Real return (loss) in the plan assets | 584 | (346) | 1,028 |
Benefits paid | (185) | (430) | (419) |
Settlement | 0 | (7,739) | 0 |
Fair value of plan assets at the end of the year | 5,381 | 4,982 | 13,497 |
Non-current-assets | 5,095 | 4,703 | 3,947 |
Net actuarial income at the beginning of the year | 59 | 1,039 | 192 |
Settlement | 0 | (1,627) | 0 |
Gain | 190 | 647 | 847 |
Adjustment to recognize the minimum pension obligation | $ 249 | $ 59 | $ 1,039 |
Employee benefits - Cost of Ser
Employee benefits - Cost of Service or Benefits Received (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Employee Benefits | |||
Financial cost | $ 12 | $ 255 | $ 240 |
Real loss in plan assets | (214) | (363) | (316) |
Settlement | 0 | (1,627) | 0 |
Net periodic pension expenses | $ (202) | $ (1,735) | $ (76) |
Employee benefits - Staff Sever
Employee benefits - Staff Severance Indemnities (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Employee benefits [Line Items] | |||
Current cost of service | $ 0 | $ 0 | $ 0 |
Interest cost | 12 | 255 | 240 |
Actuarial gain loss | 180 | (1,357) | (135) |
Benefits paid during the year | 0 | 7,739 | 0 |
Staff severance indemnities | |||
Employee benefits [Line Items] | |||
Balance, beginning of year | (34,899) | (27,099) | (32,199) |
Current cost of service | (4,624) | (4,204) | (4,978) |
Interest cost | (2,236) | (1,928) | (1,303) |
Actuarial gain loss | (5,947) | (5,305) | 3,999 |
Exchange rate difference | 769 | 551 | 4,971 |
Benefits paid during the year | 3,359 | 3,086 | 2,411 |
Balance, end of year | $ (43,578) | $ (34,899) | $ (27,099) |
Employee benefits - Actuarial A
Employee benefits - Actuarial Assumptions (Details) | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Employee benefits [Line Items] | |||
Actuarial assumption of discount rates | 5.32% | 5.12% | 5.67% |
Actuarial assumption of inflation rate | 3% | 3.41% | 3.20% |
Voluntary retirement rate: | |||
Salary increase | 4.01% | 3% | 3% |
Men | |||
Voluntary retirement rate: | |||
Actuarial assumption voluntary retirement rate | 3.82% | 6.49% | 6.49% |
Retirement age: | |||
Actuarial assumption of retirement age (in years) | 65 years | 65 years | 65 years |
Women | |||
Voluntary retirement rate: | |||
Actuarial assumption voluntary retirement rate | 3.82% | 6.49% | 6.49% |
Retirement age: | |||
Actuarial assumption of retirement age (in years) | 60 years | 60 years | 60 years |
Employee benefits - Sensitivity
Employee benefits - Sensitivity Analysis of Actuarial Assumptions (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 |
Actuarial assumption of discount rates | |||
Employee benefits [Line Items] | |||
Increase in actuarial assumption | $ (2,575) | $ (2,090) | $ (1,614) |
Decrease in actuarial assumption | 2,898 | 2,352 | 1,817 |
Actuarial assumption of employee turnover rate | |||
Employee benefits [Line Items] | |||
Increase in actuarial assumption | (338) | (274) | (212) |
Decrease in actuarial assumption | $ 378 | $ 307 | $ 237 |
Provisions and other non-fina_3
Provisions and other non-financial liabilities - Types of Provisions (Details) | 12 Months Ended | |
Dec. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | |
Disclosure Of Provisions And Other Non-Financial Liabilities [Line Items] | ||
Current | $ 392,322,000 | $ 1,303,146,000 |
Non-current | 60,450,000 | 58,053,000 |
Total | $ 452,772,000 | 1,361,199,000 |
Potassium-lithium operations | Minimum | ||
Disclosure Of Provisions And Other Non-Financial Liabilities [Line Items] | ||
Discount rate evaluation horizon (in years) | 8 | |
Potassium-lithium operations | Top of range | ||
Disclosure Of Provisions And Other Non-Financial Liabilities [Line Items] | ||
Discount rate evaluation horizon (in years) | 25 | |
Nitrate-iodine operations | Minimum | ||
Disclosure Of Provisions And Other Non-Financial Liabilities [Line Items] | ||
Discount rate evaluation horizon (in years) | 11 | |
Nitrate-iodine operations | Top of range | ||
Disclosure Of Provisions And Other Non-Financial Liabilities [Line Items] | ||
Discount rate evaluation horizon (in years) | 22 | |
Legal complaints | ||
Disclosure Of Provisions And Other Non-Financial Liabilities [Line Items] | ||
Current | $ 106,000 | 52,106,000 |
Non-current | 1,195,000 | 1,603,000 |
Total | 1,301,000 | 53,709,000 |
Provision for dismantling, restoration and rehabilitation cost | ||
Disclosure Of Provisions And Other Non-Financial Liabilities [Line Items] | ||
Current | 0 | 0 |
Non-current | 58,459,000 | 53,995,000 |
Total | 58,459,000 | 53,995,000 |
Other provisions | ||
Disclosure Of Provisions And Other Non-Financial Liabilities [Line Items] | ||
Current | 392,216,000 | 1,251,040,000 |
Non-current | 796,000 | 2,455,000 |
Total | $ 393,012,000 | $ 1,253,495,000 |
Provisions and other non-fina_4
Provisions and other non-financial liabilities - Other Current Provisions (Details) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 USD ($) ha subsidiary | Dec. 31, 2022 USD ($) | |
Disclosure Of Provisions And Other Non-Financial Liabilities [Line Items] | ||
Total | $ 392,322 | $ 1,303,146 |
Bottom of range | ||
Disclosure Of Provisions And Other Non-Financial Liabilities [Line Items] | ||
Research and development expense | 10,000 | |
Top of range | ||
Disclosure Of Provisions And Other Non-Financial Liabilities [Line Items] | ||
Research and development expense | $ 15,000 | |
SQM Salar | ||
Disclosure Of Provisions And Other Non-Financial Liabilities [Line Items] | ||
Area of land (in hectares) | ha | 140,000 | |
Area of land, entitled (in hectares) | ha | 81,920 | |
SQM | ||
Disclosure Of Provisions And Other Non-Financial Liabilities [Line Items] | ||
Percentage of entity's revenue | 1.70% | |
SQM | Lithium Metal Equivalent | ||
Disclosure Of Provisions And Other Non-Financial Liabilities [Line Items] | ||
Authorized production and sales limit (in tons) | subsidiary | 64,816 | |
SQM | Lithium Carbonate Equivalent | ||
Disclosure Of Provisions And Other Non-Financial Liabilities [Line Items] | ||
Authorized production and sales limit (in tons) | subsidiary | 345,015 | |
SQM | Bottom of range | ||
Disclosure Of Provisions And Other Non-Financial Liabilities [Line Items] | ||
Research and development expense | $ 10,800 | |
SQM | Top of range | ||
Disclosure Of Provisions And Other Non-Financial Liabilities [Line Items] | ||
Research and development expense | $ 18,900 | |
SQM | Top of range | Lithium Metal Equivalent | ||
Disclosure Of Provisions And Other Non-Financial Liabilities [Line Items] | ||
Authorized production and sales limit (in tons) | subsidiary | 349,553 | |
SQM | Top of range | Lithium Carbonate Equivalent | ||
Disclosure Of Provisions And Other Non-Financial Liabilities [Line Items] | ||
Authorized production and sales limit (in tons) | subsidiary | 1,860,671 | |
Other provisions | ||
Disclosure Of Provisions And Other Non-Financial Liabilities [Line Items] | ||
Rent under lease contract | $ 354,205 | 1,189,326 |
Provision for additional tax related to foreign loans | 1,641 | 1,085 |
End of agreement bonus | 6,979 | 35,819 |
Other bonuses to workers | 6,933 | 0 |
Directors’ per diem allowance | 4,676 | 4,250 |
Miscellaneous provisions | 17,782 | 20,560 |
Total | $ 392,216 | $ 1,251,040 |
Provisions and other non-fina_5
Provisions and other non-financial liabilities - Lease Payment Rates (Details) - Other provisions | Dec. 31, 2023 USD ($) |
Lithium Carbonate | Price Range One | |
Disclosure of other provisions [line items] | |
Lease payment rate | 6.80% |
Lithium Carbonate | Price Range One | Bottom of range | |
Disclosure of other provisions [line items] | |
Lease payments, product price | $ 0 |
Lithium Carbonate | Price Range One | Top of range | |
Disclosure of other provisions [line items] | |
Lease payments, product price | $ 4,000 |
Lithium Carbonate | Price Range Two | |
Disclosure of other provisions [line items] | |
Lease payment rate | 8% |
Lithium Carbonate | Price Range Two | Bottom of range | |
Disclosure of other provisions [line items] | |
Lease payments, product price | $ 4,000 |
Lithium Carbonate | Price Range Two | Top of range | |
Disclosure of other provisions [line items] | |
Lease payments, product price | $ 5,000 |
Lithium Carbonate | Price Range Three | |
Disclosure of other provisions [line items] | |
Lease payment rate | 10% |
Lithium Carbonate | Price Range Three | Bottom of range | |
Disclosure of other provisions [line items] | |
Lease payments, product price | $ 5,000 |
Lithium Carbonate | Price Range Three | Top of range | |
Disclosure of other provisions [line items] | |
Lease payments, product price | $ 6,000 |
Lithium Carbonate | Price Range Four | |
Disclosure of other provisions [line items] | |
Lease payment rate | 17% |
Lithium Carbonate | Price Range Four | Bottom of range | |
Disclosure of other provisions [line items] | |
Lease payments, product price | $ 6,000 |
Lithium Carbonate | Price Range Four | Top of range | |
Disclosure of other provisions [line items] | |
Lease payments, product price | $ 7,000 |
Lithium Carbonate | Price Range Five | |
Disclosure of other provisions [line items] | |
Lease payment rate | 25% |
Lithium Carbonate | Price Range Five | Bottom of range | |
Disclosure of other provisions [line items] | |
Lease payments, product price | $ 7,000 |
Lithium Carbonate | Price Range Five | Top of range | |
Disclosure of other provisions [line items] | |
Lease payments, product price | 10,000 |
Lithium Carbonate | Price Range Six | |
Disclosure of other provisions [line items] | |
Lease payments, product price | $ 10,000 |
Lease payment rate | 40% |
Lithium Hydroxide | Price Range One | |
Disclosure of other provisions [line items] | |
Lease payment rate | 6.80% |
Lithium Hydroxide | Price Range One | Bottom of range | |
Disclosure of other provisions [line items] | |
Lease payments, product price | $ 0 |
Lithium Hydroxide | Price Range One | Top of range | |
Disclosure of other provisions [line items] | |
Lease payments, product price | $ 5,000 |
Lithium Hydroxide | Price Range Two | |
Disclosure of other provisions [line items] | |
Lease payment rate | 8% |
Lithium Hydroxide | Price Range Two | Bottom of range | |
Disclosure of other provisions [line items] | |
Lease payments, product price | $ 5,000 |
Lithium Hydroxide | Price Range Two | Top of range | |
Disclosure of other provisions [line items] | |
Lease payments, product price | $ 6,000 |
Lithium Hydroxide | Price Range Three | |
Disclosure of other provisions [line items] | |
Lease payment rate | 10% |
Lithium Hydroxide | Price Range Three | Bottom of range | |
Disclosure of other provisions [line items] | |
Lease payments, product price | $ 6,000 |
Lithium Hydroxide | Price Range Three | Top of range | |
Disclosure of other provisions [line items] | |
Lease payments, product price | $ 7,000 |
Lithium Hydroxide | Price Range Four | |
Disclosure of other provisions [line items] | |
Lease payment rate | 17% |
Lithium Hydroxide | Price Range Four | Bottom of range | |
Disclosure of other provisions [line items] | |
Lease payments, product price | $ 7,000 |
Lithium Hydroxide | Price Range Four | Top of range | |
Disclosure of other provisions [line items] | |
Lease payments, product price | $ 10,000 |
Lithium Hydroxide | Price Range Five | |
Disclosure of other provisions [line items] | |
Lease payment rate | 25% |
Lithium Hydroxide | Price Range Five | Bottom of range | |
Disclosure of other provisions [line items] | |
Lease payments, product price | $ 10,000 |
Lithium Hydroxide | Price Range Five | Top of range | |
Disclosure of other provisions [line items] | |
Lease payments, product price | 12,000 |
Lithium Hydroxide | Price Range Six | |
Disclosure of other provisions [line items] | |
Lease payments, product price | $ 12,000 |
Lease payment rate | 40% |
Potassium Chloride | Price Range One | |
Disclosure of other provisions [line items] | |
Lease payment rate | 3% |
Potassium Chloride | Price Range One | Bottom of range | |
Disclosure of other provisions [line items] | |
Lease payments, product price | $ 0 |
Potassium Chloride | Price Range One | Top of range | |
Disclosure of other provisions [line items] | |
Lease payments, product price | $ 300 |
Potassium Chloride | Price Range Two | |
Disclosure of other provisions [line items] | |
Lease payment rate | 7% |
Potassium Chloride | Price Range Two | Bottom of range | |
Disclosure of other provisions [line items] | |
Lease payments, product price | $ 300 |
Potassium Chloride | Price Range Two | Top of range | |
Disclosure of other provisions [line items] | |
Lease payments, product price | $ 400 |
Potassium Chloride | Price Range Three | |
Disclosure of other provisions [line items] | |
Lease payment rate | 10% |
Potassium Chloride | Price Range Three | Bottom of range | |
Disclosure of other provisions [line items] | |
Lease payments, product price | $ 400 |
Potassium Chloride | Price Range Three | Top of range | |
Disclosure of other provisions [line items] | |
Lease payments, product price | $ 500 |
Potassium Chloride | Price Range Four | |
Disclosure of other provisions [line items] | |
Lease payment rate | 15% |
Potassium Chloride | Price Range Four | Bottom of range | |
Disclosure of other provisions [line items] | |
Lease payments, product price | $ 500 |
Potassium Chloride | Price Range Four | Top of range | |
Disclosure of other provisions [line items] | |
Lease payments, product price | 600 |
Potassium Chloride | Price Range Five | |
Disclosure of other provisions [line items] | |
Lease payments, product price | $ 600 |
Lease payment rate | 20% |
Provisions and other non-fina_6
Provisions and other non-financial liabilities - Changes in Provisions (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure Of Provisions And Other Non-Financial Liabilities [Line Items] | |||
Total provisions, initial balance | $ 1,361,199 | $ 378,704 | $ 166,783 |
Changes | |||
Additional provisions | 1,935,059 | 3,056,824 | 287,568 |
Provision used | (2,824,129) | (2,060,321) | (65,358) |
Increase (decrease) in foreign currency exchange | (838) | (32) | (72) |
Others | (18,519) | (13,976) | (10,217) |
Total Increase (decreases) | (908,427) | 982,495 | 211,921 |
Total provisions, ending balance | 452,772 | 1,361,199 | 378,704 |
Legal complaints | |||
Disclosure Of Provisions And Other Non-Financial Liabilities [Line Items] | |||
Total provisions, initial balance | 53,709 | 49,741 | 10,165 |
Changes | |||
Additional provisions | 266 | 3,981 | 48,012 |
Provision used | (52,707) | 0 | (8,399) |
Increase (decrease) in foreign currency exchange | 33 | (1) | (37) |
Others | 0 | (12) | 0 |
Total Increase (decreases) | (52,408) | 3,968 | 39,576 |
Total provisions, ending balance | 1,301 | 53,709 | 49,741 |
Provision for dismantling, restoration and rehabilitation cost | |||
Disclosure Of Provisions And Other Non-Financial Liabilities [Line Items] | |||
Total provisions, initial balance | 53,995 | 58,592 | 61,265 |
Changes | |||
Additional provisions | 12,127 | 7,085 | 7,302 |
Provision used | 0 | 0 | 0 |
Increase (decrease) in foreign currency exchange | 0 | (35) | 0 |
Others | (7,663) | (11,647) | (9,975) |
Total Increase (decreases) | 4,464 | (4,597) | (2,673) |
Total provisions, ending balance | 58,459 | 53,995 | 58,592 |
Other provisions | |||
Disclosure Of Provisions And Other Non-Financial Liabilities [Line Items] | |||
Total provisions, initial balance | 1,253,495 | 270,371 | 95,353 |
Changes | |||
Additional provisions | 1,922,666 | 3,045,758 | 232,254 |
Provision used | (2,771,422) | (2,060,321) | (56,959) |
Increase (decrease) in foreign currency exchange | (871) | 4 | (35) |
Others | (10,856) | (2,317) | (242) |
Total Increase (decreases) | (860,483) | 983,124 | 175,018 |
Total provisions, ending balance | $ 393,012 | $ 1,253,495 | $ 270,371 |
Provisions and other non-fina_7
Provisions and other non-financial liabilities - Other Current Non-Financial Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of other provisions [abstract] | ||
Tax withholdings | $ 8,750 | $ 46,518 |
VAT payable | 33,782 | 43,439 |
Guarantees received | 1,021 | 743 |
Accrual for dividend | 67,219 | 7,370 |
Monthly tax provisional payments | 26,160 | 289,326 |
Deferred income | 4,144 | 19,341 |
Withholdings from employees and salaries payable | 9,333 | 7,242 |
Accrued vacations | 35,902 | 29,642 |
Other current liabilities | 994 | 2,856 |
Total | $ 187,305 | $ 446,477 |
Disclosures on equity - Capital
Disclosures on equity - Capital Management Ratios (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | |
Disclosures Of Equity [Line Items] | |||
Net financial debt | $ 2,161,874 | $ (660,246) | $ 258,915 |
Liquidity, ratio | 2.33 | 2.29 | |
Capital Management | |||
Disclosures Of Equity [Line Items] | |||
Net financial debt | $ 2,086,717 | $ (721,980) | |
Liquidity, ratio | 2.33 | 2.29 | |
ROE, percentage | 20.78 | 79.37 | |
Adjusted EBITDA | $ 3,180,071 | $ 5,838,439 | |
EBITDA | $ 3,226,202 | $ 5,817,605 | |
ROA, percentage | 35.90 | 78.61 | |
Indebtedness, ratio | 0.47 | (0.15) |
Disclosures on equity - Narrati
Disclosures on equity - Narrative (Details) $ / shares in Units, $ in Thousands | 12 Months Ended | ||||||||
Mar. 28, 2024 $ / shares | Nov. 15, 2023 $ / shares | Aug. 16, 2023 $ / shares | May 17, 2023 $ / shares | Apr. 26, 2023 $ / shares | Nov. 21, 2022 $ / shares | Aug. 17, 2022 $ / shares | May 18, 2022 $ / shares | Dec. 31, 2023 USD ($) | |
Disclosures Of Equity [Line Items] | |||||||||
Contractual capital commitments | $ | $ 0 | ||||||||
Borrowing ratio, maximum | 1 | ||||||||
Minimum ownership required to call ordinary or extraordinary meeting, percentage | 50% | ||||||||
Number of consecutive limitation period of series B shares (in years) | 50 years | ||||||||
Final dividend (in USD per share) | $ 2.11386 | $ 3.22373 | |||||||
Interim dividend (in dollars per share) | $ 0.50347 | $ 0.60940 | $ 0.78760 | $ 1.84914 | $ 2.78716 | ||||
Special dividend (in dollars per share) | $ 3.08056 | ||||||||
Financial Parameter One | |||||||||
Disclosures Of Equity [Line Items] | |||||||||
Cash dividend rate, percentage | 100% | ||||||||
Cash dividend rate, financial parameters, liabilities less cash equivalents and other current financial assets divided by equity, ratio | 0.8 | ||||||||
Cash dividend rate, financial parameters, current assets divided by current liabilities, ratio | 2.5 | ||||||||
Financial Parameter Two | |||||||||
Disclosures Of Equity [Line Items] | |||||||||
Cash dividend rate, percentage | 80% | ||||||||
Cash dividend rate, financial parameters, liabilities less cash equivalents and other current financial assets divided by equity, ratio | 0.9 | ||||||||
Cash dividend rate, financial parameters, current assets divided by current liabilities, ratio | 2 | ||||||||
Financial Parameter Three | |||||||||
Disclosures Of Equity [Line Items] | |||||||||
Cash dividend rate, percentage | 60% | ||||||||
Cash dividend rate, financial parameters, liabilities less cash equivalents and other current financial assets divided by equity, ratio | 1 | ||||||||
Cash dividend rate, financial parameters, current assets divided by current liabilities, ratio | 1.5 | ||||||||
No Financial Parameters Met | |||||||||
Disclosures Of Equity [Line Items] | |||||||||
Cash dividend rate, percentage | 50% | ||||||||
Final dividend as per policy | |||||||||
Disclosures Of Equity [Line Items] | |||||||||
Final dividend (in USD per share) | $ 10.94060 | ||||||||
Minimum | |||||||||
Disclosures Of Equity [Line Items] | |||||||||
Cash dividend rate, percentage | 30% |
Disclosures on equity - Financi
Disclosures on equity - Financial Restrictions with Respect to Bonds Issued (Details) | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure Of Financial Restrictions [Line Items] | ||
Borrowing ratio, maximum | 1 | |
Financial Restrictions | Net Financial Debt (NFD)/Equity | Quarterly | Series H bonds | ||
Disclosure Of Financial Restrictions [Line Items] | ||
Borrowing ratio, maximum | 0.0100 | 0.0100 |
Indicator or ratio determined by the company | 0.47% | 0.15% |
Financial Restrictions | Net Financial Debt (NFD)/Equity | Quarterly | Series Q bonds | ||
Disclosure Of Financial Restrictions [Line Items] | ||
Borrowing ratio, maximum | 0.0100 | 0.0100 |
Indicator or ratio determined by the company | 0.47% | 0.15% |
Financial Restrictions | Net Financial Debt (NFD)/Equity | Quarterly | Series O bonds | ||
Disclosure Of Financial Restrictions [Line Items] | ||
Borrowing ratio, maximum | 0.0100 | 0.0100 |
Indicator or ratio determined by the company | 0.47% | 0.15% |
Financial Restrictions | Net Financial Debt (NFD)/Equity | Quarterly | Bank borrowings | ||
Disclosure Of Financial Restrictions [Line Items] | ||
Borrowing ratio, maximum | 0.0100 | 0.0100 |
Indicator or ratio determined by the company | 0.47% | 0.15% |
Disclosures on equity - Shares
Disclosures on equity - Shares Issued by Class (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosures Of Equity [Line Items] | |||
Capital amount in shares | $ 1,577,643 | $ 1,577,643 | |
Series A preferred shares | |||
Disclosures Of Equity [Line Items] | |||
Number of authorized shares (in shares) | 142,819,552 | 142,819,552 | 142,819,552 |
Number of fully subscribed and paid shares (in shares) | 142,819,552 | 142,819,552 | 142,819,552 |
Number of subscribed, partially paid shares (in shares) | 0 | 0 | 0 |
Increase (decrease) in number of current shares (in shares) | 0 | 0 | 0 |
Number of outstanding shares (in shares) | 142,818,904 | 142,818,904 | 142,818,904 |
Number of shares owned by the company or its subsidiaries or associates (in shares) | 648 | 648 | 648 |
Number of shares whose issuance is reserved due to the existence of options or agreements to dispose shares (in shares) | 0 | 0 | 0 |
Capital amount in shares | $ 134,750 | $ 134,750 | $ 134,750 |
Total number of subscribed shares (in shares) | 142,819,552 | 142,819,552 | 142,819,552 |
Series B preferred shares | |||
Disclosures Of Equity [Line Items] | |||
Number of authorized shares (in shares) | 142,818,904 | 142,818,904 | 142,818,904 |
Number of fully subscribed and paid shares (in shares) | 142,818,904 | 142,818,904 | 142,818,904 |
Number of subscribed, partially paid shares (in shares) | 0 | 0 | 0 |
Increase (decrease) in number of current shares (in shares) | 0 | 0 | 0 |
Number of outstanding shares (in shares) | 142,818,904 | 142,818,904 | 142,818,904 |
Number of shares owned by the company or its subsidiaries or associates (in shares) | 0 | 0 | 0 |
Number of shares whose issuance is reserved due to the existence of options or agreements to dispose shares (in shares) | 0 | 0 | 0 |
Capital amount in shares | $ 1,442,893 | $ 1,442,893 | $ 1,442,893 |
Total number of subscribed shares (in shares) | 142,818,904 | 142,818,904 | 142,818,904 |
Disclosures on equity - Reserve
Disclosures on equity - Reserves in Equity (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Miscellaneous equity [abstract] | ||||
Reserve for currency exchange conversion | $ (4,921) | $ (8,042) | $ (7,913) | |
Reserve for cash flow hedges | (930) | (14,575) | (34,025) | |
Reserve for gains and losses from financial assets measured at fair value through other comprehensive income | 122,294 | (10,973) | (11,146) | |
Reserve for actuarial gains or losses in defined benefit plans | (13,454) | (9,198) | (4,174) | |
Other reserves | 11,881 | 11,663 | 13,103 | |
Total | $ 114,870 | $ (31,125) | $ (44,155) | $ 7,432 |
Disclosures on equity - Movemen
Disclosures on equity - Movements in Other Reserves and Changes in Interest (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosures Of Equity [Line Items] | |||
Opening balance | $ (31,125) | $ (44,155) | $ 7,432 |
Movement of reserves | 188,138 | 28,879 | (69,295) |
Reclassification adjustments | 18,566 | (9,912) | 9,550 |
Related taxes | (60,709) | (5,937) | 17,922 |
Reclassification to retained earnings | (9,764) | ||
Closing balance | 114,870 | (31,125) | (44,155) |
Foreign currency translation difference, before taxes | |||
Disclosures Of Equity [Line Items] | |||
Opening balance | (8,042) | (7,913) | (11,569) |
Movement of reserves | 3,121 | (129) | 4,046 |
Reclassification adjustments | 0 | 0 | (390) |
Related taxes | 0 | 0 | 0 |
Reclassification to retained earnings | 0 | ||
Closing balance | (4,921) | (8,042) | (7,913) |
Reserve for cash flow hedges, before taxes | |||
Disclosures Of Equity [Line Items] | |||
Opening balance | (19,967) | (46,589) | 6,173 |
Movement of reserves | 126 | 36,079 | (66,051) |
Reclassification adjustments | 18,566 | (9,457) | 13,289 |
Related taxes | 0 | 0 | 0 |
Reclassification to retained earnings | 0 | ||
Closing balance | (1,275) | (19,967) | (46,589) |
Reserve for cash flow hedges, deferred taxes | |||
Disclosures Of Equity [Line Items] | |||
Opening balance | 5,392 | 12,564 | (1,682) |
Movement of reserves | 0 | 0 | 0 |
Reclassification adjustments | 0 | 0 | 0 |
Related taxes | (5,047) | (7,172) | 14,246 |
Reclassification to retained earnings | 0 | ||
Closing balance | 345 | 5,392 | 12,564 |
Reserve for actuarial gains and losses from defined benefit plans, before taxes | |||
Disclosures Of Equity [Line Items] | |||
Opening balance | (12,155) | (5,879) | (10,527) |
Movement of reserves | (5,836) | (6,276) | 4,648 |
Reclassification adjustments | 0 | 0 | 0 |
Related taxes | 0 | 0 | 0 |
Reclassification to retained earnings | 0 | ||
Closing balance | (17,991) | (12,155) | (5,879) |
Reserve for actuarial gains and losses from defined benefit plans, deferred taxes | |||
Disclosures Of Equity [Line Items] | |||
Opening balance | 2,957 | 1,705 | 1,847 |
Movement of reserves | 0 | 0 | 0 |
Reclassification adjustments | 0 | 0 | 0 |
Related taxes | 1,580 | 1,252 | (142) |
Reclassification to retained earnings | 0 | ||
Closing balance | 4,537 | 2,957 | 1,705 |
Reserve for gains (losses) from financial assets measured at fair value through other comprehensive income, before taxes | |||
Disclosures Of Equity [Line Items] | |||
Opening balance | (15,081) | (15,271) | 10,176 |
Movement of reserves | 190,509 | 190 | (12,072) |
Reclassification adjustments | 0 | 0 | 0 |
Related taxes | 0 | 0 | 0 |
Reclassification to retained earnings | (13,375) | ||
Closing balance | 175,428 | (15,081) | (15,271) |
Reserve for gains (losses) from financial assets measured at fair value through other comprehensive income, deferred taxes | |||
Disclosures Of Equity [Line Items] | |||
Opening balance | 4,108 | 4,125 | (3,304) |
Movement of reserves | 0 | 0 | 0 |
Reclassification adjustments | 0 | 0 | 0 |
Related taxes | (57,242) | (17) | 3,818 |
Reclassification to retained earnings | 3,611 | ||
Closing balance | (53,134) | 4,108 | 4,125 |
Other reserves, before taxes | |||
Disclosures Of Equity [Line Items] | |||
Opening balance | 11,663 | 13,103 | 16,318 |
Movement of reserves | 218 | (985) | 134 |
Reclassification adjustments | 0 | (455) | (3,349) |
Related taxes | 0 | 0 | 0 |
Reclassification to retained earnings | 0 | ||
Closing balance | 11,881 | 11,663 | 13,103 |
Total reserves, reserves | |||
Disclosures Of Equity [Line Items] | |||
Opening balance | (43,582) | (62,549) | 10,571 |
Movement of reserves | 188,138 | 28,879 | (69,295) |
Reclassification adjustments | 18,566 | (9,912) | 9,550 |
Related taxes | 0 | 0 | 0 |
Reclassification to retained earnings | (13,375) | ||
Closing balance | 163,122 | (43,582) | (62,549) |
Total reserves, deferred taxes | |||
Disclosures Of Equity [Line Items] | |||
Opening balance | 12,457 | 18,394 | (3,139) |
Movement of reserves | 0 | 0 | 0 |
Reclassification adjustments | 0 | 0 | 0 |
Related taxes | (60,709) | (5,937) | 17,922 |
Reclassification to retained earnings | 3,611 | ||
Closing balance | $ (48,252) | $ 12,457 | $ 18,394 |
Disclosures on equity - Other R
Disclosures on equity - Other Reserves (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosures Of Equity [Line Items] | |||
Total Other reserves | $ 11,881 | $ 11,663 | $ 13,103 |
SQM Iberian S.A. | |||
Disclosures Of Equity [Line Items] | |||
Total Other reserves | 9,464 | 9,464 | 9,464 |
SQM Europe NV | |||
Disclosures Of Equity [Line Items] | |||
Total Other reserves | 1,957 | 1,957 | 1,957 |
Soquimich European holding B.V. | |||
Disclosures Of Equity [Line Items] | |||
Total Other reserves | 828 | 828 | 828 |
Abu Dhabi Fertilizer Industries WWL | |||
Disclosures Of Equity [Line Items] | |||
Total Other reserves | 0 | 0 | 455 |
Soquimich Comercial S.A. | |||
Disclosures Of Equity [Line Items] | |||
Total Other reserves | (393) | (401) | 0 |
SQM Vitas Fzco. | |||
Disclosures Of Equity [Line Items] | |||
Total Other reserves | 85 | 85 | (38) |
Pavoni & C. Spa | |||
Disclosures Of Equity [Line Items] | |||
Total Other reserves | 7 | 7 | 7 |
SAS Adionics | |||
Disclosures Of Equity [Line Items] | |||
Total Other reserves | 116 | 0 | 0 |
SQM Australia Pty Ltd | |||
Disclosures Of Equity [Line Items] | |||
Total Other reserves | 94 | 0 | 0 |
SQM Iberian S.A. | |||
Disclosures Of Equity [Line Items] | |||
Total Other reserves | (1,677) | (1,677) | (1,677) |
Orcoma Estudios SPA | |||
Disclosures Of Equity [Line Items] | |||
Total Other reserves | 2,121 | 2,121 | 2,121 |
SQM Industrial S.A. | |||
Disclosures Of Equity [Line Items] | |||
Total Other reserves | 0 | 0 | 707 |
Others | |||
Disclosures Of Equity [Line Items] | |||
Total Other reserves | $ (721) | $ (721) | $ (721) |
Disclosures on equity - Non-con
Disclosures on equity - Non-controlling Interests (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure Of Noncontrolling interests Explanatory [Line Items] | |||
Net income attributable to non-controlling interests for the year ended | $ 7,076 | $ 7,973 | $ 6,751 |
Equity, non-controlling interests for the year ended | 36,230 | 35,369 | |
Dividends paid to non-controlling interests for the year ended | $ 6,265 | 7,369 | |
SQM Potasio S.A. | |||
Disclosure Of Noncontrolling interests Explanatory [Line Items] | |||
Proportion of interests in the ownership held by non-controlling interests, percentage | 0% | ||
Net income attributable to non-controlling interests for the year ended | $ 0 | 0 | |
Equity, non-controlling interests for the year ended | 0 | 0 | |
Dividends paid to non-controlling interests for the year ended | $ 0 | 0 | |
Ajay SQM Chile S.A. | |||
Disclosure Of Noncontrolling interests Explanatory [Line Items] | |||
Proportion of interests in the ownership held by non-controlling interests, percentage | 49% | ||
Net income attributable to non-controlling interests for the year ended | $ 3,238 | 2,415 | |
Equity, non-controlling interests for the year ended | 9,795 | 8,986 | |
Dividends paid to non-controlling interests for the year ended | $ 2,428 | 1,811 | |
Soquimich Comercial S.A. | |||
Disclosure Of Noncontrolling interests Explanatory [Line Items] | |||
Proportion of interests in the ownership held by non-controlling interests, percentage | 39.36168% | ||
Net income attributable to non-controlling interests for the year ended | $ 3,838 | 5,558 | |
Equity, non-controlling interests for the year ended | 26,435 | 26,383 | |
Dividends paid to non-controlling interests for the year ended | $ 3,837 | 5,558 | |
Comercial Agrorama Ltda. | |||
Disclosure Of Noncontrolling interests Explanatory [Line Items] | |||
Proportion of interests in the ownership held by non-controlling interests, percentage | 30% | ||
Net income attributable to non-controlling interests for the year ended | $ 0 | 0 | |
Equity, non-controlling interests for the year ended | 0 | 0 | |
Dividends paid to non-controlling interests for the year ended | $ 0 | 0 | |
SQM Indonesia S.A. | |||
Disclosure Of Noncontrolling interests Explanatory [Line Items] | |||
Proportion of interests in the ownership held by non-controlling interests, percentage | 20% | ||
Net income attributable to non-controlling interests for the year ended | $ 0 | 0 | |
Equity, non-controlling interests for the year ended | 0 | 0 | |
Dividends paid to non-controlling interests for the year ended | $ 0 | 0 | |
SQM Thailand Limited | |||
Disclosure Of Noncontrolling interests Explanatory [Line Items] | |||
Proportion of interests in the ownership held by non-controlling interests, percentage | 0.002% | ||
Net income attributable to non-controlling interests for the year ended | $ 0 | 0 | |
Equity, non-controlling interests for the year ended | 0 | 0 | |
Dividends paid to non-controlling interests for the year ended | $ 0 | $ 0 | |
Comercial Hydro S.A. | |||
Disclosure Of Noncontrolling interests Explanatory [Line Items] | |||
Proportion of interests in the ownership held by non-controlling interests, percentage | 30% |
Disclosures on equity - Dividen
Disclosures on equity - Dividends Discounted from Equity (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | ||
Disclosures Of Equity [Line Items] | ||||
Dividends discounted from equity for the period | [1] | $ 1,530,885 | $ 2,211,598 | $ 597,861 |
Parent | ||||
Disclosures Of Equity [Line Items] | ||||
Interim dividend | 542,847 | 2,204,229 | 157,774 | |
Final dividend | 920,819 | 0 | 399,998 | |
Dividend according to policy | 60,953 | 0 | 27,681 | |
Owners of the Parent | 1,524,619 | 2,204,229 | 585,453 | |
Non- controlling interests | ||||
Disclosures Of Equity [Line Items] | ||||
Dividend according to policy | 6,266 | 7,369 | 6,504 | |
Dividend eventual | 0 | 0 | 5,904 | |
Non-controlling interests | $ 6,266 | $ 7,369 | $ 12,408 | |
[1] See Note 19.7 |
Contingencies and restrictions
Contingencies and restrictions - Lawsuits and Other Relevant Events (Details) د.إ in Millions | 12 Months Ended | |||||||||||||||
Feb. 01, 2024 USD ($) | Apr. 14, 2020 USD ($) | Dec. 31, 2023 USD ($) employee | Feb. 29, 2024 USD ($) | Jan. 31, 2024 USD ($) | Dec. 14, 2023 USD ($) | Aug. 01, 2023 USD ($) | May 31, 2023 USD ($) employee company | May 31, 2023 AED (د.إ) employee company | Mar. 31, 2023 USD ($) | Dec. 31, 2022 employee | Jan. 27, 2022 USD ($) | Sep. 08, 2021 USD ($) | Aug. 31, 2004 USD ($) | Aug. 31, 1996 USD ($) | Dec. 31, 1995 USD ($) | |
Disclosure of contingent liabilities [line items] | ||||||||||||||||
Number of employees | employee | 7,682 | 6,997 | ||||||||||||||
Chilena Consolidada Seguros | ||||||||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||||||||
Estimated financial effect of contingent assets | $ 32,200,000 | |||||||||||||||
General Water Bureau | ||||||||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||||||||
Loss contingency, damages awarded | $ 4,180,000 | |||||||||||||||
Legal proceedings contingent liability | Pomona Case | City Of Pomona, California | ||||||||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||||||||
Law suits fines penalties and damages payable | $ 30,280,802 | $ 48,128,378 | $ 48,128,378 | |||||||||||||
Legal proceedings contingent liability | Trujillo Montejano | ||||||||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||||||||
Law suits fines penalties and damages payable | $ 330,000,000 | |||||||||||||||
Legal proceedings contingent liability | Adfert Case | ||||||||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||||||||
Law suits fines penalties and damages payable | د.إ | د.إ 73.5 | |||||||||||||||
Legal proceedings contingent liability | Pena Labor Case | ||||||||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||||||||
Law suits fines penalties and damages payable | $ 358,000,000 | |||||||||||||||
Number of employees | employee | 17 | 17 | ||||||||||||||
Number of companies | company | 6 | 6 | ||||||||||||||
Legal proceedings contingent liability | Carreno Soto Case | Entering into significant commitments or contingent liabilities | ||||||||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||||||||
Law suits fines penalties and damages payable | $ 227,000,000 | |||||||||||||||
Legal proceedings contingent liability | Pallauta, Gonzalez and Flores Et Al Labor Case | ||||||||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||||||||
Law suits fines penalties and damages payable | $ 369,000,000 | |||||||||||||||
Legal proceedings contingent liability | Cortes Et Al Labor Case | ||||||||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||||||||
Law suits fines penalties and damages payable | $ 279,000,000 | |||||||||||||||
Nitratos Naturais do Chile Ltda. | Provision for taxes other than income tax | Law Suit One A | Fazoanda Do Estado De Sao Paulo | ||||||||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||||||||
Law suits fines penalties and damages payable | $ 492,000 | |||||||||||||||
Nitratos Naturais do Chile Ltda. | Provision for taxes other than income tax | Law Suit One B | Fazoanda Do Estado De Sao Paulo | ||||||||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||||||||
Law suits fines penalties and damages payable | $ 265,000 | |||||||||||||||
Soquimich Comercial S.A. | ||||||||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||||||||
Lawsuits, damages owed value | $ 1,050,000 | |||||||||||||||
Lawsuit five | ||||||||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||||||||
Lawsuits, nominal value | 1,200,000 | |||||||||||||||
Lawsuits, damages owed value | $ 52,000,000 | |||||||||||||||
Lawsuit six | ||||||||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||||||||
Lawsuits, nominal value | 3,000,000 | |||||||||||||||
Lawsuit eight | ||||||||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||||||||
Lawsuits, nominal value | 1,200,000 | |||||||||||||||
Lawsuit fifteen | ||||||||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||||||||
Lawsuits, nominal value | $ 542,000,000 | |||||||||||||||
Fazoanda Do Estado De Sao Paulo | Law Suit One A | Nitratos Naturais do Chile Ltda. | Provision for taxes other than income tax | ||||||||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||||||||
Law suits fines penalties and damages payable | $ 352,000 |
Contingencies and restriction_2
Contingencies and restrictions - Environmental Contingencies (Details) $ in Thousands | Aug. 29, 2022 USD ($) |
SMA Environmental Case | Superintendency of Environment (SMA) | Legal proceedings contingent liability | |
Disclosure of contingent liabilities [line items] | |
Law suits fines penalties and damages payable | $ 9,000 |
Contingencies and restriction_3
Contingencies and restrictions - Tax Contingencies (Details) $ in Thousands | 12 Months Ended | ||||||||
Apr. 05, 2024 USD ($) | Jan. 19, 2024 USD ($) | Dec. 19, 2023 USD ($) | Jun. 30, 2023 USD ($) | Jul. 15, 2021 USD ($) | Mar. 24, 2017 USD ($) | Aug. 26, 2016 USD ($) | Dec. 31, 2023 USD ($) tax_claim | Dec. 31, 2022 USD ($) | |
Disclosure of contingent liabilities [line items] | |||||||||
Mining assets | $ 154,715 | $ 60,284 | |||||||
SQM Salar | Non-current tax assets | |||||||||
Disclosure of contingent liabilities [line items] | |||||||||
Mining assets | 59,500 | $ 127,100 | |||||||
Chilean Internal Revenue Service (IRS) | SQM Salar | Pending Litigation Claims | |||||||||
Disclosure of contingent liabilities [line items] | |||||||||
Adjustment to tax expense (income) | $ 1,089,500 | ||||||||
Tax Periods 2012 to 2023 | Chilean Internal Revenue Service (IRS) | SQM Salar | |||||||||
Disclosure of contingent liabilities [line items] | |||||||||
Tax contingencies, dispute amount | $ 986,300 | ||||||||
Number of tax claims | tax_claim | 7 | ||||||||
Tax contingencies, dispute amount, settled | $ 201,300 | ||||||||
Tax contingencies, dispute amount, pending | 785,000 | ||||||||
Tax contingencies, assessed excess tax amount | 59,500 | ||||||||
Tax contingencies, contested tax | 818,000 | ||||||||
Interest and associated fines | $ 108,700 | ||||||||
Tax Periods 2011 To 2022 | Chilean Internal Revenue Service (IRS) | SQM Salar | Pending Litigation Claims | |||||||||
Disclosure of contingent liabilities [line items] | |||||||||
Adjustment to tax expense (income) | 926,700 | ||||||||
Tax Period 2023 | Chilean Internal Revenue Service (IRS) | |||||||||
Disclosure of contingent liabilities [line items] | |||||||||
Tax contingencies, dispute amount | $ 785,000 | ||||||||
Tax contingencies, contested tax | 691,200 | ||||||||
Interest and associated fines | 10,900 | ||||||||
Tax Period 2023 | Chilean Internal Revenue Service (IRS) | SQM Salar | Pending Litigation Claims | |||||||||
Disclosure of contingent liabilities [line items] | |||||||||
Adjustment to tax expense (income) | $ 162,700 | ||||||||
Tax Period 2012 to 2014 | Third tax and customs court | |||||||||
Disclosure of contingent liabilities [line items] | |||||||||
Tax contingencies, dispute amount | $ 17,800 | ||||||||
Tax contingencies, contested tax | 11,500 | ||||||||
Interest and associated fines | $ 6,300 | ||||||||
Tax Period 2015 | Third tax and customs court | |||||||||
Disclosure of contingent liabilities [line items] | |||||||||
Tax contingencies, dispute amount | $ 3,200 | ||||||||
Tax Period 2016 | Third tax and customs court | |||||||||
Disclosure of contingent liabilities [line items] | |||||||||
Tax contingencies, dispute amount | 5,500 | ||||||||
Tax Period 2015 to 2016 | Third tax and customs court | |||||||||
Disclosure of contingent liabilities [line items] | |||||||||
Tax contingencies, assessed excess tax amount | 1,200 | ||||||||
Tax contingencies, contested tax | 3,800 | ||||||||
Interest and associated fines | $ 500 | ||||||||
Tax Period 2017 to 2018 | Third tax and customs court | |||||||||
Disclosure of contingent liabilities [line items] | |||||||||
Tax contingencies, dispute amount | $ 63,900 | ||||||||
Tax contingencies, assessed excess tax amount | 17,600 | ||||||||
Tax contingencies, contested tax | 30,200 | ||||||||
Interest and associated fines | $ 16,100 | ||||||||
Tax Period 2019 | First Tax And Customs Court | |||||||||
Disclosure of contingent liabilities [line items] | |||||||||
Tax contingencies, dispute amount | $ 36,700 | ||||||||
Tax contingencies, assessed excess tax amount | 9,700 | ||||||||
Tax contingencies, contested tax | $ 27,000 | ||||||||
Tax Periods 2020 And 2021 | First Tax And Customs Court | Entering into significant commitments or contingent liabilities | |||||||||
Disclosure of contingent liabilities [line items] | |||||||||
Tax contingencies, dispute amount | $ 20,700 | ||||||||
Tax contingencies, assessed excess tax amount | 5,600 | ||||||||
Tax contingencies, contested tax | 15,100 | ||||||||
Tax Period 2022 | Third tax and customs court | Entering into significant commitments or contingent liabilities | |||||||||
Disclosure of contingent liabilities [line items] | |||||||||
Tax contingencies, dispute amount | 53,500 | ||||||||
Tax contingencies, assessed excess tax amount | 14,400 | ||||||||
Tax contingencies, contested tax | 36,100 | ||||||||
Interest and associated fines | $ 3,000 | ||||||||
Tax Period 2024 | Chilean Internal Revenue Service (IRS) | Tax contingent liability | |||||||||
Disclosure of contingent liabilities [line items] | |||||||||
Law suits fines penalties and damages payable | $ 162,700 |
Gains (losses) from operating_3
Gains (losses) from operating activities in the statement of income of expenses, included according to their nature - Revenue by Geographic Location (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | $ 7,467,490 | $ 10,710,578 | $ 2,862,315 |
Specialty plant nutrition | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 913,912 | 1,172,334 | 908,815 |
Iodine and derivatives | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 892,151 | 754,339 | 437,931 |
Lithium and derivatives | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 5,180,114 | 8,152,939 | 936,121 |
Potassium | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 279,050 | 437,180 | 416,592 |
Industrial chemicals | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 175,223 | 165,200 | 132,011 |
Other | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 27,040 | 28,586 | 30,845 |
Chile | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 169,681 | 223,148 | 219,648 |
Chile | Specialty plant nutrition | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 109,669 | 128,829 | 136,523 |
Chile | Iodine and derivatives | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 1,603 | 1,523 | 1,538 |
Chile | Lithium and derivatives | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 2,327 | 1,854 | 901 |
Chile | Potassium | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 31,356 | 64,409 | 50,573 |
Chile | Industrial chemicals | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 1,136 | 1,199 | 4,125 |
Chile | Other | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 23,590 | 25,334 | 25,988 |
Latin America and the Caribbean | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 210,299 | 339,941 | 326,287 |
Latin America and the Caribbean | Specialty plant nutrition | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 76,157 | 125,712 | 88,990 |
Latin America and the Caribbean | Iodine and derivatives | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 21,523 | 16,328 | 10,198 |
Latin America and the Caribbean | Lithium and derivatives | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 7,289 | 5,275 | 4,905 |
Latin America and the Caribbean | Potassium | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 93,868 | 179,621 | 214,304 |
Latin America and the Caribbean | Industrial chemicals | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 10,489 | 11,820 | 7,367 |
Latin America and the Caribbean | Other | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 973 | 1,185 | 523 |
Europe | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 828,112 | 932,558 | 482,765 |
Europe | Specialty plant nutrition | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 128,370 | 196,930 | 179,744 |
Europe | Iodine and derivatives | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 368,696 | 288,854 | 173,329 |
Europe | Lithium and derivatives | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 278,360 | 390,832 | 75,674 |
Europe | Potassium | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 30,357 | 27,275 | 33,948 |
Europe | Industrial chemicals | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 21,054 | 27,725 | 18,662 |
Europe | Other | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 1,275 | 942 | 1,408 |
North America | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 783,611 | 914,187 | 558,002 |
North America | Specialty plant nutrition | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 411,586 | 489,327 | 314,895 |
North America | Iodine and derivatives | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 122,025 | 141,683 | 102,746 |
North America | Lithium and derivatives | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 134,768 | 151,152 | 50,349 |
North America | Potassium | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 67,232 | 71,711 | 57,682 |
North America | Industrial chemicals | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 47,074 | 59,402 | 29,860 |
North America | Other | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 926 | 912 | 2,470 |
Asia and Others | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 5,475,787 | 8,300,744 | 1,275,613 |
Asia and Others | Specialty plant nutrition | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 188,130 | 231,536 | 188,663 |
Asia and Others | Iodine and derivatives | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 378,304 | 305,951 | 150,120 |
Asia and Others | Lithium and derivatives | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 4,757,370 | 7,603,826 | 804,292 |
Asia and Others | Potassium | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 56,237 | 94,164 | 60,085 |
Asia and Others | Industrial chemicals | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 95,470 | 65,054 | 71,997 |
Asia and Others | Other | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | $ 276 | $ 213 | $ 456 |
Gains (losses) from operating_4
Gains (losses) from operating activities in the statement of income of expenses, included according to their nature - Revenue by Main Products and Service Lines (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Material Income And Expense [Line Items] | |||
Revenue | $ 7,467,490 | $ 10,710,578 | $ 2,862,315 |
Specialty plant nutrition | |||
Material Income And Expense [Line Items] | |||
Revenue | 913,912 | 1,172,334 | 908,815 |
Sodium Nitrates | |||
Material Income And Expense [Line Items] | |||
Revenue | 25,056 | 21,294 | 24,829 |
Potassium nitrate and sodium potassium nitrate | |||
Material Income And Expense [Line Items] | |||
Revenue | 502,349 | 700,081 | 539,336 |
Specialty Blends | |||
Material Income And Expense [Line Items] | |||
Revenue | 235,290 | 285,027 | 234,369 |
Other specialty fertilizers | |||
Material Income And Expense [Line Items] | |||
Revenue | 151,217 | 165,932 | 110,281 |
Iodine and derivatives | |||
Material Income And Expense [Line Items] | |||
Revenue | 892,151 | 754,339 | 437,931 |
Lithium and derivatives | |||
Material Income And Expense [Line Items] | |||
Revenue | 5,180,114 | 8,152,939 | 936,121 |
Potassium | |||
Material Income And Expense [Line Items] | |||
Revenue | 279,050 | 437,180 | 416,592 |
Industrial chemicals | |||
Material Income And Expense [Line Items] | |||
Revenue | 175,223 | 165,200 | 132,011 |
Other | |||
Material Income And Expense [Line Items] | |||
Revenue | $ 27,040 | $ 28,586 | $ 30,845 |
Gains (losses) from operating_5
Gains (losses) from operating activities in the statement of income of expenses, included according to their nature - Cost of Sales by Nature of Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Material Income And Expense [Line Items] | |||
Depreciation of Right-of-use Assets (contracts under IFRS 16) | $ (17,271) | $ (9,206) | |
Expenses related to variable lease payments (contracts under IFRS 16) | (4,700) | (3,631) | $ (1,313) |
Total | (4,392,436) | (4,973,953) | (1,772,208) |
Cost of sales | |||
Material Income And Expense [Line Items] | |||
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 |
Gains (losses) from operating_6
Gains (losses) from operating activities in the statement of income of expenses, included according to their nature - Other Income (Details) - USD ($) $ in Thousands | 1 Months Ended | 12 Months Ended | ||
Sep. 30, 2023 | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Material Income And Expense [Line Items] | ||||
Amounts recovered from insurance | $ 0 | $ 0 | $ 210 | |
Government grants | $ 24,387 | |||
Total | 40,557 | 9,854 | 19,552 | |
Other Incomes | ||||
Material Income And Expense [Line Items] | ||||
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 | 24,387 | 0 | 0 | |
Others | $ 1,797 | $ 2,282 | $ 316 |
Gains (losses) from operating_7
Gains (losses) from operating activities in the statement of income of expenses, included according to their nature - Administrative Expenses (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Material Income And Expense [Line Items] | |||
Depreciation of Right-of-use Assets (contracts under IFRS 16) | $ (17,271) | $ (9,206) | |
Total | (175,765) | (142,644) | $ (118,893) |
Administrative Expenses | |||
Material Income And Expense [Line Items] | |||
Classes of employee benefit expenses | (75,450) | (63,713) | (60,552) |
Marketing costs | (6,611) | (5,661) | (2,415) |
Amortization expense | (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) |
Gains (losses) from operating_8
Gains (losses) from operating activities in the statement of income of expenses, included according to their nature - Other Expenses (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Impairment (losses) /reversals of impairment losses recognized in income for the year | |||
Properties, plant and equipment | $ (47,059) | $ (8,084) | |
Intangible assets other than goodwill | 9 | 34,857 | |
Other expenses, by nature | |||
Other expenses | (4,661,601) | (5,192,568) | $ (1,951,706) |
Other expenses by function | (93,400) | (75,971) | (60,605) |
Other Expenses By Function | |||
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 | 0 | (520) | (478) |
Goodwill | (9) | (33,629) | 0 |
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 | 0 | 0 | (284) |
Contributions and donations | (38,756) | (19,096) | (9,037) |
Other operating expenses | (8,223) | (763) | (1,074) |
Other expenses | $ (46,332) | $ (33,738) | $ (54,545) |
Gains (losses) from operating_9
Gains (losses) from operating activities in the statement of income of expenses, included according to their nature - Other Gains (Losses) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Gains (Losses) From Operating Activities In The Statement Of Income Of Expenses, Included According To Their Nature | |||
Sale of investments in associates | $ 0 | $ 60 | $ 0 |
Adjust previous year application method of participation | (378) | (1) | 0 |
Reversal/Impairment of interests in associates | 626 | 1,349 | (2,009) |
Sale of investments in joint ventures | (2,599) | 0 | 0 |
Others | 97 | (1,291) | (629) |
Other losses | $ (2,254) | $ 117 | $ (2,638) |
Gains (losses) from operatin_10
Gains (losses) from operating activities in the statement of income of expenses, included according to their nature - (Impairment) Reversal of Losses of Financial Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Gains (Losses) From Operating Activities In The Statement Of Income Of Expenses, Included According To Their Nature | |||
Impairment of financial assets and reversal of impairment losses | $ 202 | $ 3,369 | $ (235) |
Gains (losses) from operatin_11
Gains (losses) from operating activities in the statement of income of expenses, included according to their nature - Summary of Expenses by Nature (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Material Income And Expense [Line Items] | ||||
Depreciation expenses | $ (17,271) | $ (9,206) | ||
Impairment of properties, plant and equipment, intangible and Goodwill | $ (34,149) | |||
Operational leases | (2,038) | (1,226) | $ (1,587) | |
Expenses related to variable lease payments (contracts under IFRS 16) | (4,700) | (3,631) | (1,313) | |
Total expenses by nature | (4,661,601) | (5,192,568) | (1,951,706) | |
Other Expenses By Nature | ||||
Material Income And Expense [Line Items] | ||||
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 expenses | (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 | 0 | 0 | (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) |
Gains (losses) from operatin_12
Gains (losses) from operating activities in the statement of income of expenses, included according to their nature - Finance Expenses (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Gains (Losses) From Operating Activities In The Statement Of Income Of Expenses, Included According To Their Nature | |||
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) |
Gains (losses) from operatin_13
Gains (losses) from operating activities in the statement of income of expenses, included according to their nature - Finance Income (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Gains (Losses) From Operating Activities In The Statement Of Income Of Expenses, Included According To Their Nature | |||
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 |
Reportable segments - Operating
Reportable segments - Operating Segment Items (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of operating segments [line items] | |||
Revenue | $ 7,467,490 | $ 10,710,578 | $ 2,862,315 |
Cost of sales | (4,392,436) | (4,973,953) | (1,772,208) |
Administrative expenses | (175,765) | (142,644) | (118,893) |
Finance expense | (138,402) | (86,651) | (84,626) |
Depreciation and amortization expense | (280,787) | (244,458) | (214,239) |
Interest in the income of associates and joint ventures accounted for by the equity method | 593 | 20,159 | 11,132 |
Income before taxes | 2,807,018 | 5,486,496 | 841,221 |
Income tax expense | (1,876,751) | (1,572,212) | (249,016) |
Net income | 930,267 | 3,914,284 | 592,205 |
Assets | 10,778,837 | 10,819,101 | 7,180,201 |
Investment accounted for under the equity method | 86,417 | 54,386 | 39,824 |
Incorporation of non-current assets other than financial instruments, deferred tax assets, net defined benefit assets and rights arising from insurance contracts | 2,785,385 | 1,757,581 | 152,663 |
Other Liabilities | 6,301,408 | 5,887,100 | 3,964,230 |
Impairment loss of financial assets recognized in income | 202 | 3,369 | (235) |
Impairment loss of non-financial assets recognized in income | (47,068) | (42,233) | (6,060) |
Cash flows from (used in) operating activities | (196,639) | 4,077,595 | 822,520 |
Cash flows used in investing activities | (1,481,493) | (909,401) | (1,006,943) |
Cash flows from (used in) financing activities | 66,261 | (2,002,969) | 1,206,485 |
Operating segments | |||
Disclosure of operating segments [line items] | |||
Revenue | 7,467,490 | 10,710,578 | 2,862,315 |
Cost of sales | (4,392,436) | (4,973,953) | (1,772,208) |
Administrative expenses | 0 | 0 | 0 |
Finance expense | 0 | 0 | 0 |
Depreciation and amortization expense | (280,787) | (244,458) | (214,239) |
Interest in the income of associates and joint ventures accounted for by the equity method | 0 | 0 | 0 |
Income before taxes | 3,075,054 | 5,736,625 | 1,090,107 |
Income tax expense | 0 | 0 | 0 |
Net income | 3,075,054 | 5,736,625 | 1,090,107 |
Assets | 0 | 0 | 0 |
Investment accounted for under the equity method | 0 | 0 | 0 |
Incorporation of non-current assets other than financial instruments, deferred tax assets, net defined benefit assets and rights arising from insurance contracts | 0 | 0 | 0 |
Other Liabilities | 0 | 0 | 0 |
Impairment loss of financial assets recognized in income | 0 | 0 | 0 |
Impairment loss of non-financial assets recognized in income | 0 | 0 | 0 |
Cash flows from (used in) operating activities | 0 | 0 | 0 |
Cash flows used in investing activities | 0 | 0 | 0 |
Cash flows from (used in) financing activities | 0 | 0 | 0 |
Unallocated amounts | |||
Disclosure of operating segments [line items] | |||
Revenue | 0 | 0 | 0 |
Cost of sales | 0 | 0 | 0 |
Administrative expenses | (175,765) | (142,644) | (118,893) |
Finance expense | (138,402) | (86,651) | (84,626) |
Depreciation and amortization expense | 0 | 0 | 0 |
Interest in the income of associates and joint ventures accounted for by the equity method | 593 | 20,159 | 11,132 |
Income before taxes | (268,036) | (250,129) | (248,886) |
Income tax expense | (1,876,751) | (1,572,212) | (249,016) |
Net income | (2,144,787) | (1,822,341) | (497,902) |
Assets | 10,778,837 | 10,819,101 | 7,180,201 |
Investment accounted for under the equity method | 86,417 | 54,386 | 39,824 |
Incorporation of non-current assets other than financial instruments, deferred tax assets, net defined benefit assets and rights arising from insurance contracts | 2,785,385 | 1,757,581 | 152,663 |
Other Liabilities | 6,301,408 | 5,887,100 | 3,964,230 |
Impairment loss of financial assets recognized in income | 202 | 3,369 | (235) |
Impairment loss of non-financial assets recognized in income | (47,068) | (42,233) | (6,060) |
Cash flows from (used in) operating activities | (196,639) | 4,077,595 | 822,520 |
Cash flows used in investing activities | (1,481,493) | (909,401) | (1,006,943) |
Cash flows from (used in) financing activities | 66,261 | (2,002,969) | 1,206,485 |
Specialty plant nutrients | |||
Disclosure of operating segments [line items] | |||
Revenue | 913,912 | 1,172,334 | 908,815 |
Cost of sales | (691,509) | (722,261) | (646,930) |
Administrative expenses | 0 | 0 | 0 |
Finance expense | 0 | 0 | 0 |
Depreciation and amortization expense | (70,342) | (63,321) | (58,808) |
Interest in the income of associates and joint ventures accounted for by the equity method | 0 | 0 | 0 |
Income before taxes | 222,403 | 450,073 | 261,885 |
Income tax expense | 0 | 0 | 0 |
Net income | 222,403 | 450,073 | 261,885 |
Assets | 0 | 0 | 0 |
Investment accounted for under the equity method | 0 | 0 | 0 |
Incorporation of non-current assets other than financial instruments, deferred tax assets, net defined benefit assets and rights arising from insurance contracts | 0 | 0 | 0 |
Other Liabilities | 0 | 0 | 0 |
Impairment loss of financial assets recognized in income | 0 | ||
Impairment loss of non-financial assets recognized in income | 0 | 0 | 0 |
Cash flows from (used in) operating activities | 0 | 0 | 0 |
Cash flows used in investing activities | 0 | 0 | 0 |
Cash flows from (used in) financing activities | 0 | 0 | 0 |
Iodine and its derivatives | |||
Disclosure of operating segments [line items] | |||
Revenue | 892,151 | 754,339 | 437,931 |
Cost of sales | (355,717) | (282,100) | (240,341) |
Administrative expenses | 0 | 0 | 0 |
Finance expense | 0 | 0 | 0 |
Depreciation and amortization expense | (53,140) | (53,734) | (41,215) |
Interest in the income of associates and joint ventures accounted for by the equity method | 0 | 0 | 0 |
Income before taxes | 536,434 | 472,239 | 197,590 |
Income tax expense | 0 | 0 | 0 |
Net income | 536,434 | 472,239 | 197,590 |
Assets | 0 | 0 | 0 |
Investment accounted for under the equity method | 0 | 0 | 0 |
Incorporation of non-current assets other than financial instruments, deferred tax assets, net defined benefit assets and rights arising from insurance contracts | 0 | 0 | 0 |
Other Liabilities | 0 | 0 | 0 |
Impairment loss of financial assets recognized in income | 0 | ||
Impairment loss of non-financial assets recognized in income | 0 | 0 | 0 |
Cash flows from (used in) operating activities | 0 | 0 | 0 |
Cash flows used in investing activities | 0 | 0 | 0 |
Cash flows from (used in) financing activities | 0 | 0 | 0 |
Lithium and its derivatives | |||
Disclosure of operating segments [line items] | |||
Revenue | 5,180,114 | 8,152,939 | 936,121 |
Cost of sales | (2,955,669) | (3,636,852) | (494,794) |
Administrative expenses | 0 | 0 | 0 |
Finance expense | 0 | 0 | 0 |
Depreciation and amortization expense | (124,010) | (88,510) | (65,014) |
Interest in the income of associates and joint ventures accounted for by the equity method | 0 | 0 | 0 |
Income before taxes | 2,224,445 | 4,516,087 | 441,327 |
Income tax expense | 0 | 0 | 0 |
Net income | 2,224,445 | 4,516,087 | 441,327 |
Assets | 0 | 0 | 0 |
Investment accounted for under the equity method | 0 | 0 | 0 |
Incorporation of non-current assets other than financial instruments, deferred tax assets, net defined benefit assets and rights arising from insurance contracts | 0 | 0 | 0 |
Other Liabilities | 0 | 0 | 0 |
Impairment loss of financial assets recognized in income | 0 | ||
Impairment loss of non-financial assets recognized in income | 0 | 0 | 0 |
Cash flows from (used in) operating activities | 0 | 0 | 0 |
Cash flows used in investing activities | 0 | 0 | 0 |
Cash flows from (used in) financing activities | 0 | 0 | 0 |
Industrial chemicals | |||
Disclosure of operating segments [line items] | |||
Revenue | 175,223 | 165,200 | 132,011 |
Cost of sales | (141,351) | (112,247) | (109,067) |
Administrative expenses | 0 | 0 | 0 |
Finance expense | 0 | 0 | 0 |
Depreciation and amortization expense | (15,232) | (14,724) | (13,743) |
Interest in the income of associates and joint ventures accounted for by the equity method | 0 | 0 | 0 |
Income before taxes | 33,872 | 52,953 | 22,944 |
Income tax expense | 0 | 0 | 0 |
Net income | 33,872 | 52,953 | 22,944 |
Assets | 0 | 0 | 0 |
Investment accounted for under the equity method | 0 | 0 | 0 |
Incorporation of non-current assets other than financial instruments, deferred tax assets, net defined benefit assets and rights arising from insurance contracts | 0 | 0 | 0 |
Other Liabilities | 0 | 0 | 0 |
Impairment loss of financial assets recognized in income | 0 | ||
Impairment loss of non-financial assets recognized in income | 0 | 0 | 0 |
Cash flows from (used in) operating activities | 0 | 0 | 0 |
Cash flows used in investing activities | 0 | 0 | 0 |
Cash flows from (used in) financing activities | 0 | 0 | 0 |
Potassium | |||
Disclosure of operating segments [line items] | |||
Revenue | 279,050 | 437,180 | 416,592 |
Cost of sales | (219,597) | (193,581) | (253,125) |
Administrative expenses | 0 | 0 | 0 |
Finance expense | 0 | 0 | 0 |
Depreciation and amortization expense | (18,006) | (24,043) | (35,290) |
Interest in the income of associates and joint ventures accounted for by the equity method | 0 | 0 | 0 |
Income before taxes | 59,453 | 243,599 | 163,467 |
Income tax expense | 0 | 0 | 0 |
Net income | 59,453 | 243,599 | 163,467 |
Assets | 0 | 0 | 0 |
Investment accounted for under the equity method | 0 | 0 | 0 |
Incorporation of non-current assets other than financial instruments, deferred tax assets, net defined benefit assets and rights arising from insurance contracts | 0 | 0 | 0 |
Other Liabilities | 0 | 0 | 0 |
Impairment loss of financial assets recognized in income | 0 | ||
Impairment loss of non-financial assets recognized in income | 0 | 0 | 0 |
Cash flows from (used in) operating activities | 0 | 0 | 0 |
Cash flows used in investing activities | 0 | 0 | 0 |
Cash flows from (used in) financing activities | 0 | 0 | 0 |
Other products and services | |||
Disclosure of operating segments [line items] | |||
Revenue | 27,040 | 28,586 | 30,845 |
Cost of sales | (28,593) | (26,912) | (27,951) |
Administrative expenses | 0 | 0 | 0 |
Finance expense | 0 | 0 | 0 |
Depreciation and amortization expense | (57) | (126) | (169) |
Interest in the income of associates and joint ventures accounted for by the equity method | 0 | 0 | 0 |
Income before taxes | (1,553) | 1,674 | 2,894 |
Income tax expense | 0 | 0 | 0 |
Net income | (1,553) | 1,674 | 2,894 |
Assets | 0 | 0 | 0 |
Investment accounted for under the equity method | 0 | 0 | 0 |
Incorporation of non-current assets other than financial instruments, deferred tax assets, net defined benefit assets and rights arising from insurance contracts | 0 | 0 | 0 |
Other Liabilities | 0 | 0 | 0 |
Impairment loss of financial assets recognized in income | 0 | ||
Impairment loss of non-financial assets recognized in income | 0 | 0 | 0 |
Cash flows from (used in) operating activities | 0 | 0 | 0 |
Cash flows used in investing activities | 0 | 0 | 0 |
Cash flows from (used in) financing activities | 0 | 0 | 0 |
Reportable segments | |||
Disclosure of operating segments [line items] | |||
Revenue | 7,467,490 | 10,710,578 | 2,862,315 |
Cost of sales | (4,392,436) | (4,973,953) | (1,772,208) |
Administrative expenses | 0 | 0 | 0 |
Finance expense | 0 | 0 | 0 |
Depreciation and amortization expense | (280,787) | (244,458) | (214,239) |
Interest in the income of associates and joint ventures accounted for by the equity method | 0 | 0 | 0 |
Income before taxes | 3,075,054 | 5,736,625 | 1,090,107 |
Income tax expense | 0 | 0 | 0 |
Net income | 3,075,054 | 5,736,625 | 1,090,107 |
Assets | 0 | 0 | 0 |
Investment accounted for under the equity method | 0 | 0 | 0 |
Incorporation of non-current assets other than financial instruments, deferred tax assets, net defined benefit assets and rights arising from insurance contracts | 0 | 0 | 0 |
Other Liabilities | 0 | 0 | 0 |
Impairment loss of financial assets recognized in income | 0 | 0 | 0 |
Impairment loss of non-financial assets recognized in income | 0 | 0 | 0 |
Cash flows from (used in) operating activities | 0 | 0 | 0 |
Cash flows used in investing activities | 0 | 0 | 0 |
Cash flows from (used in) financing activities | 0 | 0 | 0 |
Parent | |||
Disclosure of operating segments [line items] | |||
Revenue | 7,467,490 | 2,862,315 | |
Assets | 8,824,362 | 8,430,376 | |
Other Liabilities | 4,383,163 | 3,533,744 | |
Parent | Operating segments | |||
Disclosure of operating segments [line items] | |||
Revenue | 7,467,490 | 10,710,578 | 2,862,315 |
Parent | Unallocated amounts | |||
Disclosure of operating segments [line items] | |||
Revenue | 0 | 0 | 0 |
Parent | Specialty plant nutrients | |||
Disclosure of operating segments [line items] | |||
Revenue | 913,912 | 1,172,334 | 908,815 |
Parent | Iodine and its derivatives | |||
Disclosure of operating segments [line items] | |||
Revenue | 892,151 | 754,339 | 437,931 |
Parent | Lithium and its derivatives | |||
Disclosure of operating segments [line items] | |||
Revenue | 5,180,114 | 8,152,939 | 936,121 |
Parent | Industrial chemicals | |||
Disclosure of operating segments [line items] | |||
Revenue | 175,223 | 165,200 | 132,011 |
Parent | Potassium | |||
Disclosure of operating segments [line items] | |||
Revenue | 279,050 | 437,180 | 416,592 |
Parent | Other products and services | |||
Disclosure of operating segments [line items] | |||
Revenue | 27,040 | 28,586 | 30,845 |
Parent | Reportable segments | |||
Disclosure of operating segments [line items] | |||
Revenue | 7,467,490 | 10,710,578 | 2,862,315 |
Other Operating Segment | |||
Disclosure of operating segments [line items] | |||
Revenue | 0 | 0 | 0 |
Other Operating Segment | Operating segments | |||
Disclosure of operating segments [line items] | |||
Revenue | 0 | 0 | 0 |
Other Operating Segment | Unallocated amounts | |||
Disclosure of operating segments [line items] | |||
Revenue | 0 | 0 | 0 |
Other Operating Segment | Specialty plant nutrients | |||
Disclosure of operating segments [line items] | |||
Revenue | 0 | 0 | 0 |
Other Operating Segment | Iodine and its derivatives | |||
Disclosure of operating segments [line items] | |||
Revenue | 0 | 0 | 0 |
Other Operating Segment | Lithium and its derivatives | |||
Disclosure of operating segments [line items] | |||
Revenue | 0 | 0 | 0 |
Other Operating Segment | Industrial chemicals | |||
Disclosure of operating segments [line items] | |||
Revenue | 0 | 0 | 0 |
Other Operating Segment | Potassium | |||
Disclosure of operating segments [line items] | |||
Revenue | 0 | 0 | 0 |
Other Operating Segment | Other products and services | |||
Disclosure of operating segments [line items] | |||
Revenue | 0 | 0 | 0 |
Other Operating Segment | Reportable segments | |||
Disclosure of operating segments [line items] | |||
Revenue | $ 0 | $ 0 | $ 0 |
Reportable segments - Comprehen
Reportable segments - Comprehensive Income by Reportable Segment (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of operating segments [line items] | |||
Revenue | $ 7,467,490 | $ 10,710,578 | $ 2,862,315 |
Cost of sales | (4,392,436) | (4,973,953) | (1,772,208) |
Gross profit | 3,075,054 | 5,736,625 | 1,090,107 |
Other incomes by function | 40,557 | 9,854 | 19,552 |
Administrative expenses | (175,765) | (142,644) | (118,893) |
Other expenses by function | (93,400) | (75,971) | (60,605) |
Impairment of gains and review of impairment losses (impairment losses) determined in accordance with IFRS 9 | 202 | 3,369 | (235) |
Other losses | (2,254) | 117 | (2,638) |
Financial income | 122,726 | 47,038 | 4,668 |
Finance costs | (138,402) | (86,651) | (84,626) |
Interest in the income of associates and joint ventures accounted for by the equity method | 593 | 20,159 | 11,132 |
Exchange differences | (22,293) | (25,400) | (17,241) |
Income before taxes | 2,807,018 | 5,486,496 | 841,221 |
Income tax expense | (1,876,751) | (1,572,212) | (249,016) |
Net income | 930,267 | 3,914,284 | 592,205 |
Specialty plant nutrients | |||
Disclosure of operating segments [line items] | |||
Revenue | 913,912 | 1,172,334 | 908,815 |
Cost of sales | (691,509) | (722,261) | (646,930) |
Gross profit | 222,403 | 450,073 | 261,885 |
Other incomes by function | 0 | 0 | 0 |
Administrative expenses | 0 | 0 | 0 |
Other expenses by function | 0 | 0 | 0 |
Impairment of gains and review of impairment losses (impairment losses) determined in accordance with IFRS 9 | 0 | 0 | 0 |
Other losses | 0 | 0 | 0 |
Financial income | 0 | 0 | 0 |
Finance costs | 0 | 0 | 0 |
Interest in the income of associates and joint ventures accounted for by the equity method | 0 | 0 | 0 |
Exchange differences | 0 | 0 | 0 |
Income before taxes | 222,403 | 450,073 | 261,885 |
Income tax expense | 0 | 0 | 0 |
Net income | 222,403 | 450,073 | 261,885 |
Iodine and its derivatives | |||
Disclosure of operating segments [line items] | |||
Revenue | 892,151 | 754,339 | 437,931 |
Cost of sales | (355,717) | (282,100) | (240,341) |
Gross profit | 536,434 | 472,239 | 197,590 |
Other incomes by function | 0 | 0 | 0 |
Administrative expenses | 0 | 0 | 0 |
Other expenses by function | 0 | 0 | 0 |
Impairment of gains and review of impairment losses (impairment losses) determined in accordance with IFRS 9 | 0 | 0 | 0 |
Other losses | 0 | 0 | 0 |
Financial income | 0 | 0 | 0 |
Finance costs | 0 | 0 | 0 |
Interest in the income of associates and joint ventures accounted for by the equity method | 0 | 0 | 0 |
Exchange differences | 0 | 0 | 0 |
Income before taxes | 536,434 | 472,239 | 197,590 |
Income tax expense | 0 | 0 | 0 |
Net income | 536,434 | 472,239 | 197,590 |
Lithium and its derivatives | |||
Disclosure of operating segments [line items] | |||
Revenue | 5,180,114 | 8,152,939 | 936,121 |
Cost of sales | (2,955,669) | (3,636,852) | (494,794) |
Gross profit | 2,224,445 | 4,516,087 | 441,327 |
Other incomes by function | 0 | 0 | 0 |
Administrative expenses | 0 | 0 | 0 |
Other expenses by function | 0 | 0 | 0 |
Impairment of gains and review of impairment losses (impairment losses) determined in accordance with IFRS 9 | 0 | 0 | 0 |
Other losses | 0 | 0 | 0 |
Financial income | 0 | 0 | 0 |
Finance costs | 0 | 0 | 0 |
Interest in the income of associates and joint ventures accounted for by the equity method | 0 | 0 | 0 |
Exchange differences | 0 | 0 | 0 |
Income before taxes | 2,224,445 | 4,516,087 | 441,327 |
Income tax expense | 0 | 0 | 0 |
Net income | 2,224,445 | 4,516,087 | 441,327 |
Industrial chemicals | |||
Disclosure of operating segments [line items] | |||
Revenue | 175,223 | 165,200 | 132,011 |
Cost of sales | (141,351) | (112,247) | (109,067) |
Gross profit | 33,872 | 52,953 | 22,944 |
Other incomes by function | 0 | 0 | 0 |
Administrative expenses | 0 | 0 | 0 |
Other expenses by function | 0 | 0 | 0 |
Impairment of gains and review of impairment losses (impairment losses) determined in accordance with IFRS 9 | 0 | 0 | 0 |
Other losses | 0 | 0 | 0 |
Financial income | 0 | 0 | 0 |
Finance costs | 0 | 0 | 0 |
Interest in the income of associates and joint ventures accounted for by the equity method | 0 | 0 | 0 |
Exchange differences | 0 | 0 | 0 |
Income before taxes | 33,872 | 52,953 | 22,944 |
Income tax expense | 0 | 0 | 0 |
Net income | 33,872 | 52,953 | 22,944 |
Potassium | |||
Disclosure of operating segments [line items] | |||
Revenue | 279,050 | 437,180 | 416,592 |
Cost of sales | (219,597) | (193,581) | (253,125) |
Gross profit | 59,453 | 243,599 | 163,467 |
Other incomes by function | 0 | 0 | 0 |
Administrative expenses | 0 | 0 | 0 |
Other expenses by function | 0 | 0 | 0 |
Impairment of gains and review of impairment losses (impairment losses) determined in accordance with IFRS 9 | 0 | 0 | 0 |
Other losses | 0 | 0 | 0 |
Financial income | 0 | 0 | 0 |
Finance costs | 0 | 0 | 0 |
Interest in the income of associates and joint ventures accounted for by the equity method | 0 | 0 | 0 |
Exchange differences | 0 | 0 | 0 |
Income before taxes | 59,453 | 243,599 | 163,467 |
Income tax expense | 0 | 0 | 0 |
Net income | 59,453 | 243,599 | 163,467 |
Other products and services | |||
Disclosure of operating segments [line items] | |||
Revenue | 27,040 | 28,586 | 30,845 |
Cost of sales | (28,593) | (26,912) | (27,951) |
Gross profit | (1,553) | 1,674 | 2,894 |
Other incomes by function | 0 | 0 | 0 |
Administrative expenses | 0 | 0 | 0 |
Other expenses by function | 0 | 0 | 0 |
Impairment of gains and review of impairment losses (impairment losses) determined in accordance with IFRS 9 | 0 | 0 | 0 |
Other losses | 0 | 0 | 0 |
Financial income | 0 | 0 | 0 |
Finance costs | 0 | 0 | 0 |
Interest in the income of associates and joint ventures accounted for by the equity method | 0 | 0 | 0 |
Exchange differences | 0 | 0 | 0 |
Income before taxes | (1,553) | 1,674 | 2,894 |
Income tax expense | 0 | 0 | 0 |
Net income | (1,553) | 1,674 | 2,894 |
Corporate Unit | |||
Disclosure of operating segments [line items] | |||
Revenue | 0 | 0 | 0 |
Cost of sales | 0 | 0 | 0 |
Gross profit | 0 | 0 | 0 |
Other incomes by function | 40,557 | 9,854 | 19,552 |
Administrative expenses | (175,765) | (142,644) | (118,893) |
Other expenses by function | (93,400) | (75,971) | (60,605) |
Impairment of gains and review of impairment losses (impairment losses) determined in accordance with IFRS 9 | 202 | 3,369 | (235) |
Other losses | (2,254) | 117 | (2,638) |
Financial income | 122,726 | 47,038 | 4,668 |
Finance costs | (138,402) | (86,651) | (84,626) |
Interest in the income of associates and joint ventures accounted for by the equity method | 593 | 20,159 | 11,132 |
Exchange differences | (22,293) | (25,400) | (17,241) |
Income before taxes | (268,036) | (250,129) | (248,886) |
Income tax expense | (1,876,751) | (1,572,212) | (249,016) |
Net income | $ (2,144,787) | $ (1,822,341) | $ (497,902) |
Reportable segments - Segments
Reportable segments - Segments by Geographical Areas (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of operating segments [line items] | |||
Revenue | $ 7,467,490 | $ 10,710,578 | $ 2,862,315 |
Non-current assets at December 31, 2023 | |||
Investment accounted for under the equity method | 86,417 | 54,386 | 39,824 |
Intangible assets other than goodwill | 155,874 | 166,336 | 179,658 |
Goodwill | 958 | 967 | 34,596 |
Property, plant and equipment, net | 3,609,937 | 2,726,838 | 2,012,225 |
Right-of-use assets | 73,193 | 60,867 | 52,608 |
Other non-current assets | 373,700 | 52,396 | 33,487 |
Non-current assets | 4,300,079 | 3,061,790 | 2,352,398 |
Chile | |||
Disclosure of operating segments [line items] | |||
Revenue | 169,681 | 223,148 | 219,648 |
Non-current assets at December 31, 2023 | |||
Investment accounted for under the equity method | 0 | 0 | 0 |
Intangible assets other than goodwill | 67,671 | 75,666 | 89,019 |
Goodwill | 0 | 0 | 22,979 |
Property, plant and equipment, net | 2,888,778 | 2,269,923 | 1,815,997 |
Right-of-use assets | 32,359 | 32,312 | 29,803 |
Other non-current assets | 60,363 | 46,640 | 27,626 |
Non-current assets | 3,049,171 | 2,424,541 | 1,985,424 |
Latin America and the Caribbean | |||
Disclosure of operating segments [line items] | |||
Revenue | 210,299 | 339,940 | 326,287 |
Non-current assets at December 31, 2023 | |||
Investment accounted for under the equity method | 22,490 | 20,792 | 8,683 |
Intangible assets other than goodwill | 360 | 428 | 496 |
Goodwill | 86 | 86 | 86 |
Property, plant and equipment, net | 776 | 743 | 671 |
Right-of-use assets | 19 | 47 | 68 |
Other non-current assets | 18 | 17 | 16 |
Non-current assets | 23,749 | 22,113 | 10,020 |
Europe | |||
Disclosure of operating segments [line items] | |||
Revenue | 828,112 | 932,558 | 482,765 |
Non-current assets at December 31, 2023 | |||
Investment accounted for under the equity method | 42,726 | 15,939 | 15,242 |
Intangible assets other than goodwill | 6,440 | 6,497 | 6,996 |
Goodwill | 148 | 158 | 11,531 |
Property, plant and equipment, net | 14,485 | 14,978 | 11,380 |
Right-of-use assets | 3,716 | 1,651 | 2,040 |
Other non-current assets | 0 | 6 | 6 |
Non-current assets | 67,515 | 39,229 | 47,195 |
North America | |||
Disclosure of operating segments [line items] | |||
Revenue | 783,611 | 914,187 | 558,002 |
Non-current assets at December 31, 2023 | |||
Investment accounted for under the equity method | 17,657 | 17,655 | 15,899 |
Intangible assets other than goodwill | 876 | 1,345 | 1,809 |
Goodwill | 724 | 723 | 0 |
Property, plant and equipment, net | 6,322 | 4,506 | 3,704 |
Right-of-use assets | 8,619 | 2,739 | 3,351 |
Other non-current assets | 5,099 | 4,706 | 3,950 |
Non-current assets | 39,297 | 31,674 | 28,713 |
Asia and others | |||
Disclosure of operating segments [line items] | |||
Revenue | 5,475,787 | 8,300,745 | 1,275,613 |
Non-current assets at December 31, 2023 | |||
Investment accounted for under the equity method | 3,544 | 0 | 0 |
Intangible assets other than goodwill | 80,527 | 82,400 | 81,338 |
Goodwill | 0 | 0 | 0 |
Property, plant and equipment, net | 699,576 | 436,688 | 180,473 |
Right-of-use assets | 28,480 | 24,118 | 17,346 |
Other non-current assets | 308,220 | 1,027 | 1,889 |
Non-current assets | $ 1,120,347 | $ 544,233 | $ 281,046 |
Effect of fluctuations in for_3
Effect of fluctuations in foreign currency exchange rates - (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 |
Changes in equity [abstract] | |||
Reserve for currency exchange conversion | $ (4,921) | $ (8,042) | $ (7,913) |
Comercial Hydro S.A. | |||
Changes in equity [abstract] | |||
Reserve for currency exchange conversion | 1,004 | 1,004 | 1,004 |
SQMC Internacional Ltda. | |||
Changes in equity [abstract] | |||
Reserve for currency exchange conversion | (9) | (9) | (9) |
Proinsa Ltda. | |||
Changes in equity [abstract] | |||
Reserve for currency exchange conversion | (10) | (10) | (10) |
Comercial Agrorama Ltda. | |||
Changes in equity [abstract] | |||
Reserve for currency exchange conversion | 188 | 175 | 155 |
Isapre Norte Grande Ltda. | |||
Changes in equity [abstract] | |||
Reserve for currency exchange conversion | (147) | (130) | (121) |
Almacenes y Depósitos Ltda. | |||
Changes in equity [abstract] | |||
Reserve for currency exchange conversion | 662 | 568 | 305 |
Sacal S.A. | |||
Changes in equity [abstract] | |||
Reserve for currency exchange conversion | (3) | (3) | (3) |
Sociedad Prestadora De Servicios De Salud Cruz Del Norte S.A. | |||
Changes in equity [abstract] | |||
Reserve for currency exchange conversion | (41) | (38) | (36) |
Agrorama S.A. | |||
Changes in equity [abstract] | |||
Reserve for currency exchange conversion | 730 | 666 | 628 |
SQM Vitas Fzco | |||
Changes in equity [abstract] | |||
Reserve for currency exchange conversion | (1,164) | (3,614) | (4,165) |
Ajay Europe | |||
Changes in equity [abstract] | |||
Reserve for currency exchange conversion | (1,529) | (1,911) | (1,413) |
SQM Oceanía Pty Ltd. | |||
Changes in equity [abstract] | |||
Reserve for currency exchange conversion | (579) | (579) | (579) |
SQM Indonesia S.A. | |||
Changes in equity [abstract] | |||
Reserve for currency exchange conversion | (124) | (124) | (124) |
Abu Dhabi Fertillizers Industries WWL. | |||
Changes in equity [abstract] | |||
Reserve for currency exchange conversion | 0 | 0 | 372 |
SQM Holland B.V. | |||
Changes in equity [abstract] | |||
Reserve for currency exchange conversion | 99 | 99 | 99 |
SQM Thailand Limited | |||
Changes in equity [abstract] | |||
Reserve for currency exchange conversion | (68) | (68) | (68) |
SQM Europe | |||
Changes in equity [abstract] | |||
Reserve for currency exchange conversion | (1,983) | (1,983) | (1,983) |
SQM Australia Pty Ltd | |||
Changes in equity [abstract] | |||
Reserve for currency exchange conversion | (1,643) | (1,642) | (1,732) |
Pavoni & C. Spa | |||
Changes in equity [abstract] | |||
Reserve for currency exchange conversion | (224) | (363) | (153) |
SQM Colombia S.A.S. | |||
Changes in equity [abstract] | |||
Reserve for currency exchange conversion | $ (80) | $ (80) | $ (80) |
Disclosures on the effects of_3
Disclosures on the effects of fluctuations in foreign currency exchange rates - Assets Subject to Fluctuations in Exchange Rates (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Assets held in foreign currency | $ 10,778,837 | $ 10,819,101 |
Current Assets | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Assets held in foreign currency | 5,866,141 | 6,991,509 |
Current Assets | Cash and cash equivalents | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Assets held in foreign currency | $ 1,041,369 | 2,655,236 |
Current Assets | Cash and cash equivalents | USD | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | USD | |
Assets held in foreign currency | $ 855,001 | 1,637,507 |
Current Assets | Cash and cash equivalents | CLP | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | CLP | |
Assets held in foreign currency | $ 3,425 | 806,106 |
Current Assets | Cash and cash equivalents | CNY | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | CNY | |
Assets held in foreign currency | $ 31,362 | 92,394 |
Current Assets | Cash and cash equivalents | EUR | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | EUR | |
Assets held in foreign currency | $ 11,183 | 14,963 |
Current Assets | Cash and cash equivalents | GBP | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | GBP | |
Assets held in foreign currency | $ 26 | 1 |
Current Assets | Cash and cash equivalents | AUD | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | AUD | |
Assets held in foreign currency | $ 108,883 | 89,602 |
Current Assets | Cash and cash equivalents | MXN | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | MXN | |
Assets held in foreign currency | $ 649 | 1,406 |
Current Assets | Cash and cash equivalents | AED | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | AED | |
Assets held in foreign currency | $ 6 | 2 |
Current Assets | Cash and cash equivalents | JPY | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | JPY | |
Assets held in foreign currency | $ 899 | 686 |
Current Assets | Cash and cash equivalents | NOK | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | NOK | |
Assets held in foreign currency | $ 8 | 0 |
Current Assets | Cash and cash equivalents | ZAR | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | ZAR | |
Assets held in foreign currency | $ 10,559 | 11,647 |
Current Assets | Cash and cash equivalents | KRW | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | KRW | |
Assets held in foreign currency | $ 19,364 | 918 |
Current Assets | Cash and cash equivalents | IDR | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | IDR | |
Assets held in foreign currency | $ 3 | 3 |
Current Assets | Cash and cash equivalents | PLN | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | PLN | |
Assets held in foreign currency | $ 1 | 1 |
Current Assets | Other current financial assets | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Assets held in foreign currency | $ 1,325,843 | 961,355 |
Current Assets | Other current financial assets | USD | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | USD | |
Assets held in foreign currency | $ 879,612 | 722,165 |
Current Assets | Other current financial assets | CLP | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | CLP | |
Assets held in foreign currency | $ 446,221 | 239,151 |
Current Assets | Other current financial assets | BRL | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | BRL | |
Assets held in foreign currency | $ 10 | 39 |
Current Assets | Other current non-financial assets | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Assets held in foreign currency | $ 136,750 | 196,335 |
Current Assets | Other current non-financial assets | USD | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | USD | |
Assets held in foreign currency | $ 22,092 | 35,237 |
Current Assets | Other current non-financial assets | CLP | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | CLP | |
Assets held in foreign currency | $ 85,079 | 85,608 |
Current Assets | Other current non-financial assets | CNY | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | CNY | |
Assets held in foreign currency | $ 529 | 56,404 |
Current Assets | Other current non-financial assets | EUR | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | EUR | |
Assets held in foreign currency | $ 1,304 | 1,046 |
Current Assets | Other current non-financial assets | AUD | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | AUD | |
Assets held in foreign currency | $ 4,870 | 9,516 |
Current Assets | Other current non-financial assets | MXN | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | MXN | |
Assets held in foreign currency | $ 2,014 | 4,685 |
Current Assets | Other current non-financial assets | JPY | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | JPY | |
Assets held in foreign currency | $ 2,267 | 158 |
Current Assets | Other current non-financial assets | ZAR | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | ZAR | |
Assets held in foreign currency | $ 41 | 3,203 |
Current Assets | Other current non-financial assets | KRW | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | KRW | |
Assets held in foreign currency | $ 18,031 | 0 |
Current Assets | Other current non-financial assets | CLF | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | CLF | |
Assets held in foreign currency | $ 227 | 259 |
Current Assets | Other current non-financial assets | COP | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | COP | |
Assets held in foreign currency | $ 294 | 217 |
Current Assets | Other current non-financial assets | THB | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | THB | |
Assets held in foreign currency | $ 2 | 2 |
Current Assets | Trade and other receivables | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Assets held in foreign currency | $ 907,181 | 1,087,420 |
Current Assets | Trade and other receivables | USD | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | USD | |
Assets held in foreign currency | $ 516,261 | 788,596 |
Current Assets | Trade and other receivables | CLP | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | CLP | |
Assets held in foreign currency | $ 61,146 | 58,412 |
Current Assets | Trade and other receivables | CNY | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | CNY | |
Assets held in foreign currency | $ 282,117 | 161,492 |
Current Assets | Trade and other receivables | EUR | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | EUR | |
Assets held in foreign currency | $ 25,542 | 36,318 |
Current Assets | Trade and other receivables | GBP | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | GBP | |
Assets held in foreign currency | $ 147 | 76 |
Current Assets | Trade and other receivables | AUD | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | AUD | |
Assets held in foreign currency | $ 2,598 | 1,708 |
Current Assets | Trade and other receivables | MXN | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | MXN | |
Assets held in foreign currency | $ 670 | 889 |
Current Assets | Trade and other receivables | AED | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | AED | |
Assets held in foreign currency | $ 1,467 | 3,116 |
Current Assets | Trade and other receivables | JPY | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | JPY | |
Assets held in foreign currency | $ 382 | 129 |
Current Assets | Trade and other receivables | ZAR | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | ZAR | |
Assets held in foreign currency | $ 12,295 | 33,361 |
Current Assets | Trade and other receivables | KRW | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | KRW | |
Assets held in foreign currency | $ 8 | 0 |
Current Assets | Trade and other receivables | BRL | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | BRL | |
Assets held in foreign currency | $ 8 | 22 |
Current Assets | Trade and other receivables | COP | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | COP | |
Assets held in foreign currency | $ 3,210 | 2,751 |
Current Assets | Trade and other receivables | CLF | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | CLF | |
Assets held in foreign currency | $ 1,330 | 550 |
Current Assets | Receivables from related parties | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Assets held in foreign currency | $ 43,253 | 81,622 |
Current Assets | Receivables from related parties | USD | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | USD | |
Assets held in foreign currency | $ 40,236 | 79,331 |
Current Assets | Receivables from related parties | EUR | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | EUR | |
Assets held in foreign currency | $ 3,017 | 1,250 |
Current Assets | Receivables from related parties | AUD | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | AUD | |
Assets held in foreign currency | $ 0 | 1,041 |
Current Assets | Current inventories | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Assets held in foreign currency | $ 1,774,594 | 1,784,281 |
Current Assets | Current inventories | USD | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | USD | |
Assets held in foreign currency | $ 1,774,594 | 1,784,281 |
Current Assets | Current tax assets | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Assets held in foreign currency | $ 637,033 | 224,914 |
Current Assets | Current tax assets | USD | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | USD | |
Assets held in foreign currency | $ 611,841 | 127,068 |
Current Assets | Current tax assets | CLP | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | CLP | |
Assets held in foreign currency | $ 3,637 | 2,125 |
Current Assets | Current tax assets | CNY | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | CNY | |
Assets held in foreign currency | $ 0 | 77,397 |
Current Assets | Current tax assets | EUR | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | EUR | |
Assets held in foreign currency | $ 13,556 | 14,042 |
Current Assets | Current tax assets | MXN | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | MXN | |
Assets held in foreign currency | $ 5,216 | 59 |
Current Assets | Current tax assets | JPY | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | JPY | |
Assets held in foreign currency | $ 11 | 0 |
Current Assets | Current tax assets | ZAR | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | ZAR | |
Assets held in foreign currency | $ 29 | 28 |
Current Assets | Current tax assets | KRW | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | KRW | |
Assets held in foreign currency | $ 0 | 2,713 |
Current Assets | Current tax assets | BRL | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | BRL | |
Assets held in foreign currency | $ 2 | 1 |
Current Assets | Current tax assets | COP | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | COP | |
Assets held in foreign currency | $ 2,741 | 1,481 |
Current Assets | Non-current assets or groups of assets classified as held for sale | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Assets held in foreign currency | $ 118 | 346 |
Current Assets | Non-current assets or groups of assets classified as held for sale | USD | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | USD | |
Assets held in foreign currency | $ 118 | 346 |
Non-Current Assets | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Assets held in foreign currency | 4,912,696 | 3,827,592 |
Non-Current Assets | Other non-current financial assets | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Assets held in foreign currency | $ 248,281 | 32,126 |
Non-Current Assets | Other non-current financial assets | USD | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | USD | |
Assets held in foreign currency | $ 248,281 | 32,126 |
Non-Current Assets | Other non-current non-financial assets | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Assets held in foreign currency | $ 373,700 | 52,396 |
Non-Current Assets | Other non-current non-financial assets | USD | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | USD | |
Assets held in foreign currency | $ 65,616 | 52,396 |
Non-Current Assets | Other non-current non-financial assets | CNY | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | CNY | |
Assets held in foreign currency | $ 308,084 | 0 |
Non-Current Assets | Other receivables, non-current | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Assets held in foreign currency | $ 2,559 | 2,091 |
Non-Current Assets | Other receivables, non-current | USD | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | USD | |
Assets held in foreign currency | $ 705 | 713 |
Non-Current Assets | Other receivables, non-current | CLP | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | CLP | |
Assets held in foreign currency | $ 999 | 1,213 |
Non-Current Assets | Other receivables, non-current | MXN | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | MXN | |
Assets held in foreign currency | $ 179 | 88 |
Non-Current Assets | Other receivables, non-current | KRW | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | KRW | |
Assets held in foreign currency | $ 667 | 0 |
Non-Current Assets | Other receivables, non-current | CLF | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | CLF | |
Assets held in foreign currency | $ 9 | 77 |
Non-Current Assets | Investments classified using the equity method of accounting | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Assets held in foreign currency | $ 86,417 | 54,386 |
Non-Current Assets | Investments classified using the equity method of accounting | USD | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | USD | |
Assets held in foreign currency | $ 76,532 | 22,959 |
Non-Current Assets | Investments classified using the equity method of accounting | EUR | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | EUR | |
Assets held in foreign currency | $ 7,107 | 11,830 |
Non-Current Assets | Investments classified using the equity method of accounting | AED | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | AED | |
Assets held in foreign currency | $ 2,778 | 19,597 |
Non-Current Assets | Intangible assets other than goodwill | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Assets held in foreign currency | $ 155,874 | 166,336 |
Non-Current Assets | Intangible assets other than goodwill | USD | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | USD | |
Assets held in foreign currency | $ 155,874 | 166,336 |
Non-Current Assets | Purchases goodwill, gross | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Assets held in foreign currency | $ 958 | 967 |
Non-Current Assets | Purchases goodwill, gross | USD | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | USD | |
Assets held in foreign currency | $ 958 | 967 |
Non-Current Assets | Property, plant and equipment | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Assets held in foreign currency | $ 3,609,937 | 2,726,838 |
Non-Current Assets | Property, plant and equipment | USD | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | USD | |
Assets held in foreign currency | $ 3,609,937 | 2,726,838 |
Non-Current Assets | Right-of-use assets | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Assets held in foreign currency | $ 73,193 | 60,867 |
Non-Current Assets | Right-of-use assets | USD | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | USD | |
Assets held in foreign currency | $ 73,193 | 60,867 |
Non-Current Assets | Non-current tax assets | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Assets held in foreign currency | $ 59,541 | 127,114 |
Non-Current Assets | Non-current tax assets | USD | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | USD | |
Assets held in foreign currency | $ 59,541 | 127,114 |
Non-Current Assets | Deferred tax assets | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Assets held in foreign currency | $ 302,236 | 604,471 |
Non-Current Assets | Deferred tax assets | USD | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | USD | |
Assets held in foreign currency | $ 302,236 | $ 604,471 |
Disclosures on the effects of_4
Disclosures on the effects of fluctuations in foreign currency exchange rates - Liabilities Subject to Fluctuations in Exchange Rates (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 6,301,408 | $ 5,887,100 |
Current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 2,513,876 | 3,051,547 |
Current liabilities | Up to 90 days | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 1,904,430 | 2,249,142 |
Current liabilities | 90 days to 1 year | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 609,446 | 802,405 |
Non-current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 3,787,532 | 2,835,553 |
Non-current liabilities | Over 1 year to 2 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 303,372 | 34,866 |
Non-current liabilities | Over 2 years to 3 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 648,216 | 504,560 |
Non-current liabilities | Over 3 years to 4 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 99,685 | 249,531 |
Non-current liabilities | Over 4 years to 5 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 34,936 | 62,219 |
Non-current liabilities | Over 5 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 2,701,323 | 1,984,377 |
Other current financial liabilities | Current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 1,256,499 | 522,999 |
Other current financial liabilities | Current liabilities | Up to 90 days | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 793,505 | 140,746 |
Other current financial liabilities | Current liabilities | 90 days to 1 year | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 462,994 | 382,253 |
Lease liabilities, current | Current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 18,192 | 12,149 |
Lease liabilities, current | Current liabilities | Up to 90 days | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
Lease liabilities, current | Current liabilities | 90 days to 1 year | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 18,192 | 12,149 |
Trade and other payables | Current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 449,633 | 374,789 |
Trade and other payables | Current liabilities | Up to 90 days | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 435,865 | 374,115 |
Trade and other payables | Current liabilities | 90 days to 1 year | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 13,768 | 674 |
Trade payables due to related parties | Current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 2,346 | 0 |
Trade payables due to related parties | Current liabilities | Up to 90 days | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 2,346 | 0 |
Trade payables due to related parties | Current liabilities | 90 days to 1 year | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
Other current provisions | Current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 392,322 | 1,303,146 |
Other current provisions | Current liabilities | Up to 90 days | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 385,529 | 1,300,878 |
Other current provisions | Current liabilities | 90 days to 1 year | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 6,793 | 2,268 |
Current tax liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 356,611 | |
Current tax liabilities | Up to 90 days | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 162,743 | 0 |
Current tax liabilities | 90 days to 1 year | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 20,890 | 356,611 |
Current tax liabilities | Current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 183,633 | |
Provisions for employee benefits, current | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 23,946 | 35,376 |
Provisions for employee benefits, current | Up to 90 days | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 23,946 | 26,745 |
Provisions for employee benefits, current | 90 days to 1 year | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 8,631 |
Other current non-financial liabilities | Current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 187,305 | 446,477 |
Other current non-financial liabilities | Current liabilities | Up to 90 days | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 100,496 | 406,658 |
Other current non-financial liabilities | Current liabilities | 90 days to 1 year | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 86,809 | 39,819 |
Other non-current financial liabilities | Non-current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 3,213,422 | 2,394,218 |
Other non-current financial liabilities | Non-current liabilities | Over 1 year to 2 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 249,963 | 0 |
Other non-current financial liabilities | Non-current liabilities | Over 2 years to 3 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 195,833 | 197,521 |
Other non-current financial liabilities | Non-current liabilities | Over 3 years to 4 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 99,685 | 249,531 |
Other non-current financial liabilities | Non-current liabilities | Over 4 years to 5 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
Other non-current financial liabilities | Non-current liabilities | Over 5 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 2,667,941 | 1,947,166 |
Non-current lease liabilities | Non-current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 56,966 | 49,585 |
Non-current lease liabilities | Non-current liabilities | Over 1 year to 2 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
Non-current lease liabilities | Non-current liabilities | Over 2 years to 3 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 22,030 | 13,566 |
Non-current lease liabilities | Non-current liabilities | Over 3 years to 4 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
Non-current lease liabilities | Non-current liabilities | Over 4 years to 5 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 34,936 | 36,019 |
Non-current lease liabilities | Non-current liabilities | Over 5 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
Non-current Trade and other payables | Non-current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
Non-current Trade and other payables | Non-current liabilities | Over 1 year to 2 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
Non-current Trade and other payables | Non-current liabilities | Over 2 years to 3 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
Non-current Trade and other payables | Non-current liabilities | Over 3 years to 4 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
Non-current Trade and other payables | Non-current liabilities | Over 4 years to 5 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
Non-current Trade and other payables | Non-current liabilities | Over 5 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
Other non-current provisions | Non-current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 60,450 | 58,053 |
Other non-current provisions | Non-current liabilities | Over 1 year to 2 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
Other non-current provisions | Non-current liabilities | Over 2 years to 3 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 27,599 | 3,648 |
Other non-current provisions | Non-current liabilities | Over 3 years to 4 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
Other non-current provisions | Non-current liabilities | Over 4 years to 5 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 26,200 |
Other non-current provisions | Non-current liabilities | Over 5 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 32,851 | 28,205 |
Deferred tax liabilities | Non-current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 394,688 | 289,825 |
Deferred tax liabilities | Non-current liabilities | Over 1 year to 2 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
Deferred tax liabilities | Non-current liabilities | Over 2 years to 3 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 394,688 | 289,825 |
Deferred tax liabilities | Non-current liabilities | Over 3 years to 4 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
Deferred tax liabilities | Non-current liabilities | Over 4 years to 5 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
Deferred tax liabilities | Non-current liabilities | Over 5 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
Provisions for employee benefits, non-current | Non-current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 62,006 | 43,872 |
Provisions for employee benefits, non-current | Non-current liabilities | Over 1 year to 2 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 53,409 | 34,866 |
Provisions for employee benefits, non-current | Non-current liabilities | Over 2 years to 3 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 8,066 | 0 |
Provisions for employee benefits, non-current | Non-current liabilities | Over 3 years to 4 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
Provisions for employee benefits, non-current | Non-current liabilities | Over 4 years to 5 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
Provisions for employee benefits, non-current | Non-current liabilities | Over 5 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 531 | 9,006 |
USD | Other current financial liabilities | Current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | USD | |
Liabilities held in foreign currencies | $ 1,235,970 | 502,574 |
USD | Other current financial liabilities | Current liabilities | Up to 90 days | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 773,314 | 120,652 |
USD | Other current financial liabilities | Current liabilities | 90 days to 1 year | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 462,656 | 381,922 |
USD | Lease liabilities, current | Current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | USD | |
Liabilities held in foreign currencies | $ 9,293 | 6,549 |
USD | Lease liabilities, current | Current liabilities | Up to 90 days | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
USD | Lease liabilities, current | Current liabilities | 90 days to 1 year | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 9,293 | 6,549 |
USD | Trade and other payables | Current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | USD | |
Liabilities held in foreign currencies | $ 94,353 | 121,370 |
USD | Trade and other payables | Current liabilities | Up to 90 days | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 87,043 | 121,260 |
USD | Trade and other payables | Current liabilities | 90 days to 1 year | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 7,310 | 110 |
USD | Other current provisions | Current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | USD | |
Liabilities held in foreign currencies | $ 391,765 | 1,302,929 |
USD | Other current provisions | Current liabilities | Up to 90 days | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 384,972 | 1,300,878 |
USD | Other current provisions | Current liabilities | 90 days to 1 year | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 6,793 | 2,051 |
USD | Current tax liabilities | Current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | USD | |
Liabilities held in foreign currencies | $ 172,548 | 348,658 |
USD | Current tax liabilities | Current liabilities | Up to 90 days | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 162,743 | 0 |
USD | Current tax liabilities | Current liabilities | 90 days to 1 year | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 9,805 | 348,658 |
USD | Provisions for employee benefits, current | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | USD | |
Liabilities held in foreign currencies | $ 21,575 | 34,498 |
USD | Provisions for employee benefits, current | Up to 90 days | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 21,575 | 25,867 |
USD | Provisions for employee benefits, current | 90 days to 1 year | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 0 | 8,631 |
USD | Other current non-financial liabilities | Current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | USD | |
Liabilities held in foreign currencies | $ 118,151 | 393,499 |
USD | Other current non-financial liabilities | Current liabilities | Up to 90 days | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 57,114 | 393,401 |
USD | Other current non-financial liabilities | Current liabilities | 90 days to 1 year | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 61,037 | $ 98 |
USD | Other non-current financial liabilities | Non-current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | USD | USD |
Liabilities held in foreign currencies | $ 2,816,807 | $ 1,991,706 |
USD | Other non-current financial liabilities | Non-current liabilities | Over 1 year to 2 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 249,963 | 0 |
USD | Other non-current financial liabilities | Non-current liabilities | Over 2 years to 3 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 195,833 | 197,521 |
USD | Other non-current financial liabilities | Non-current liabilities | Over 3 years to 4 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 99,685 | 249,531 |
USD | Other non-current financial liabilities | Non-current liabilities | Over 4 years to 5 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
USD | Other non-current financial liabilities | Non-current liabilities | Over 5 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 2,271,326 | $ 1,544,654 |
USD | Non-current lease liabilities | Non-current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | USD | USD |
Liabilities held in foreign currencies | $ 17,902 | $ 36,066 |
USD | Non-current lease liabilities | Non-current liabilities | Over 1 year to 2 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
USD | Non-current lease liabilities | Non-current liabilities | Over 2 years to 3 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 13,059 | 13,566 |
USD | Non-current lease liabilities | Non-current liabilities | Over 3 years to 4 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
USD | Non-current lease liabilities | Non-current liabilities | Over 4 years to 5 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 4,843 | 22,500 |
USD | Non-current lease liabilities | Non-current liabilities | Over 5 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 0 | $ 0 |
USD | Non-current Trade and other payables | Non-current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | USD | USD |
Liabilities held in foreign currencies | $ 0 | $ 0 |
USD | Non-current Trade and other payables | Non-current liabilities | Over 1 year to 2 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
USD | Non-current Trade and other payables | Non-current liabilities | Over 2 years to 3 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
USD | Non-current Trade and other payables | Non-current liabilities | Over 3 years to 4 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
USD | Non-current Trade and other payables | Non-current liabilities | Over 4 years to 5 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
USD | Non-current Trade and other payables | Non-current liabilities | Over 5 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 0 | $ 0 |
USD | Other non-current provisions | Non-current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | USD | USD |
Liabilities held in foreign currencies | $ 60,450 | $ 58,053 |
USD | Other non-current provisions | Non-current liabilities | Over 1 year to 2 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
USD | Other non-current provisions | Non-current liabilities | Over 2 years to 3 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 27,599 | 3,648 |
USD | Other non-current provisions | Non-current liabilities | Over 3 years to 4 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
USD | Other non-current provisions | Non-current liabilities | Over 4 years to 5 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 26,200 |
USD | Other non-current provisions | Non-current liabilities | Over 5 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 32,851 | $ 28,205 |
USD | Deferred tax liabilities | Non-current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | USD | USD |
Liabilities held in foreign currencies | $ 394,688 | $ 289,825 |
USD | Deferred tax liabilities | Non-current liabilities | Over 1 year to 2 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
USD | Deferred tax liabilities | Non-current liabilities | Over 2 years to 3 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 394,688 | 289,825 |
USD | Deferred tax liabilities | Non-current liabilities | Over 3 years to 4 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
USD | Deferred tax liabilities | Non-current liabilities | Over 4 years to 5 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
USD | Deferred tax liabilities | Non-current liabilities | Over 5 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 0 | $ 0 |
USD | Provisions for employee benefits, non-current | Non-current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | USD | USD |
Liabilities held in foreign currencies | $ 18,514 | $ 43,332 |
USD | Provisions for employee benefits, non-current | Non-current liabilities | Over 1 year to 2 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 10,008 | 34,326 |
USD | Provisions for employee benefits, non-current | Non-current liabilities | Over 2 years to 3 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 8,066 | 0 |
USD | Provisions for employee benefits, non-current | Non-current liabilities | Over 3 years to 4 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
USD | Provisions for employee benefits, non-current | Non-current liabilities | Over 4 years to 5 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
USD | Provisions for employee benefits, non-current | Non-current liabilities | Over 5 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 440 | 9,006 |
CLF | Other current financial liabilities | Current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | CLF | |
Liabilities held in foreign currencies | $ 20,529 | 20,425 |
CLF | Other current financial liabilities | Current liabilities | Up to 90 days | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 20,191 | 20,094 |
CLF | Other current financial liabilities | Current liabilities | 90 days to 1 year | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 338 | 331 |
CLF | Lease liabilities, current | Current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | CLF | |
Liabilities held in foreign currencies | $ 2,284 | 2,331 |
CLF | Lease liabilities, current | Current liabilities | Up to 90 days | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
CLF | Lease liabilities, current | Current liabilities | 90 days to 1 year | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 2,284 | 2,331 |
CLF | Trade and other payables | Current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | CLF | |
Liabilities held in foreign currencies | $ 3,614 | 2,618 |
CLF | Trade and other payables | Current liabilities | Up to 90 days | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 3,614 | 2,618 |
CLF | Trade and other payables | Current liabilities | 90 days to 1 year | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 0 | $ 0 |
CLF | Non-current lease liabilities | Non-current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | CLF | CLF |
Liabilities held in foreign currencies | $ 8,971 | $ 10,982 |
CLF | Non-current lease liabilities | Non-current liabilities | Over 1 year to 2 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
CLF | Non-current lease liabilities | Non-current liabilities | Over 2 years to 3 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 8,971 | 0 |
CLF | Non-current lease liabilities | Non-current liabilities | Over 3 years to 4 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
CLF | Non-current lease liabilities | Non-current liabilities | Over 4 years to 5 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 10,982 |
CLF | Non-current lease liabilities | Non-current liabilities | Over 5 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 0 | 0 |
MXN | Lease liabilities, current | Current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | MXN | |
Liabilities held in foreign currencies | $ 3,573 | 436 |
MXN | Lease liabilities, current | Current liabilities | Up to 90 days | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
MXN | Lease liabilities, current | Current liabilities | 90 days to 1 year | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 3,573 | 436 |
MXN | Trade and other payables | Current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | MXN | |
Liabilities held in foreign currencies | $ 1,499 | 802 |
MXN | Trade and other payables | Current liabilities | Up to 90 days | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 1,499 | 802 |
MXN | Trade and other payables | Current liabilities | 90 days to 1 year | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 0 | 0 |
MXN | Current tax liabilities | Current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | MXN | |
Liabilities held in foreign currencies | $ 0 | 5,568 |
MXN | Current tax liabilities | Current liabilities | Up to 90 days | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
MXN | Current tax liabilities | Current liabilities | 90 days to 1 year | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 0 | 5,568 |
MXN | Provisions for employee benefits, current | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | MXN | |
Liabilities held in foreign currencies | $ 202 | 103 |
MXN | Provisions for employee benefits, current | Up to 90 days | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 202 | 103 |
MXN | Provisions for employee benefits, current | 90 days to 1 year | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 0 | 0 |
MXN | Other current non-financial liabilities | Current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | MXN | |
Liabilities held in foreign currencies | $ 982 | 739 |
MXN | Other current non-financial liabilities | Current liabilities | Up to 90 days | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 966 | 725 |
MXN | Other current non-financial liabilities | Current liabilities | 90 days to 1 year | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 16 | $ 14 |
MXN | Non-current lease liabilities | Non-current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | MXN | MXN |
Liabilities held in foreign currencies | $ 4,235 | $ 1,094 |
MXN | Non-current lease liabilities | Non-current liabilities | Over 1 year to 2 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
MXN | Non-current lease liabilities | Non-current liabilities | Over 2 years to 3 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
MXN | Non-current lease liabilities | Non-current liabilities | Over 3 years to 4 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
MXN | Non-current lease liabilities | Non-current liabilities | Over 4 years to 5 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 4,235 | 1,094 |
MXN | Non-current lease liabilities | Non-current liabilities | Over 5 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 0 | 0 |
MXN | Provisions for employee benefits, non-current | Non-current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | MXN | |
Liabilities held in foreign currencies | $ 314 | |
MXN | Provisions for employee benefits, non-current | Non-current liabilities | Over 1 year to 2 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 314 | |
MXN | Provisions for employee benefits, non-current | Non-current liabilities | Over 2 years to 3 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | |
MXN | Provisions for employee benefits, non-current | Non-current liabilities | Over 3 years to 4 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | |
MXN | Provisions for employee benefits, non-current | Non-current liabilities | Over 4 years to 5 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | |
MXN | Provisions for employee benefits, non-current | Non-current liabilities | Over 5 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 0 | |
EUR | Lease liabilities, current | Current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | EUR | |
Liabilities held in foreign currencies | $ 438 | 387 |
EUR | Lease liabilities, current | Current liabilities | Up to 90 days | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
EUR | Lease liabilities, current | Current liabilities | 90 days to 1 year | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 438 | 387 |
EUR | Trade and other payables | Current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | EUR | |
Liabilities held in foreign currencies | $ 59,282 | 56,682 |
EUR | Trade and other payables | Current liabilities | Up to 90 days | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 52,883 | 56,118 |
EUR | Trade and other payables | Current liabilities | 90 days to 1 year | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 6,399 | 564 |
EUR | Current tax liabilities | Current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | EUR | |
Liabilities held in foreign currencies | $ 4,850 | 1,386 |
EUR | Current tax liabilities | Current liabilities | Up to 90 days | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
EUR | Current tax liabilities | Current liabilities | 90 days to 1 year | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 4,850 | 1,386 |
EUR | Provisions for employee benefits, current | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | EUR | |
Liabilities held in foreign currencies | $ 560 | 385 |
EUR | Provisions for employee benefits, current | Up to 90 days | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 560 | 385 |
EUR | Provisions for employee benefits, current | 90 days to 1 year | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 0 | 0 |
EUR | Other current non-financial liabilities | Current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | EUR | |
Liabilities held in foreign currencies | $ 1,638 | 1,814 |
EUR | Other current non-financial liabilities | Current liabilities | Up to 90 days | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 669 | 1,564 |
EUR | Other current non-financial liabilities | Current liabilities | 90 days to 1 year | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 969 | $ 250 |
EUR | Non-current lease liabilities | Non-current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | EUR | EUR |
Liabilities held in foreign currencies | $ 3,315 | $ 1,420 |
EUR | Non-current lease liabilities | Non-current liabilities | Over 1 year to 2 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
EUR | Non-current lease liabilities | Non-current liabilities | Over 2 years to 3 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
EUR | Non-current lease liabilities | Non-current liabilities | Over 3 years to 4 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
EUR | Non-current lease liabilities | Non-current liabilities | Over 4 years to 5 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 3,315 | 1,420 |
EUR | Non-current lease liabilities | Non-current liabilities | Over 5 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 0 | 0 |
EUR | Provisions for employee benefits, non-current | Non-current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | EUR | |
Liabilities held in foreign currencies | $ 56 | |
EUR | Provisions for employee benefits, non-current | Non-current liabilities | Over 1 year to 2 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 56 | |
EUR | Provisions for employee benefits, non-current | Non-current liabilities | Over 2 years to 3 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | |
EUR | Provisions for employee benefits, non-current | Non-current liabilities | Over 3 years to 4 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | |
EUR | Provisions for employee benefits, non-current | Non-current liabilities | Over 4 years to 5 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | |
EUR | Provisions for employee benefits, non-current | Non-current liabilities | Over 5 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 0 | |
AUD | Lease liabilities, current | Current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | AUD | |
Liabilities held in foreign currencies | $ 2,604 | 2,446 |
AUD | Lease liabilities, current | Current liabilities | Up to 90 days | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
AUD | Lease liabilities, current | Current liabilities | 90 days to 1 year | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 2,604 | 2,446 |
AUD | Trade and other payables | Current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | AUD | |
Liabilities held in foreign currencies | $ 32,446 | 24,394 |
AUD | Trade and other payables | Current liabilities | Up to 90 days | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 32,439 | 24,394 |
AUD | Trade and other payables | Current liabilities | 90 days to 1 year | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 7 | 0 |
AUD | Trade payables due to related parties | Current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | AUD | |
Liabilities held in foreign currencies | $ 2,346 | 0 |
AUD | Trade payables due to related parties | Current liabilities | Up to 90 days | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 2,346 | 0 |
AUD | Trade payables due to related parties | Current liabilities | 90 days to 1 year | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 0 | 0 |
AUD | Current tax liabilities | Current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | AUD | |
Liabilities held in foreign currencies | $ 169 | 0 |
AUD | Current tax liabilities | Current liabilities | Up to 90 days | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
AUD | Current tax liabilities | Current liabilities | 90 days to 1 year | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 169 | 0 |
AUD | Provisions for employee benefits, current | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | AUD | |
Liabilities held in foreign currencies | $ 492 | 390 |
AUD | Provisions for employee benefits, current | Up to 90 days | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 492 | 390 |
AUD | Provisions for employee benefits, current | 90 days to 1 year | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 0 | 0 |
AUD | Non-current lease liabilities | Non-current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | AUD | |
Liabilities held in foreign currencies | $ 22,522 | |
AUD | Non-current lease liabilities | Non-current liabilities | Over 1 year to 2 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | |
AUD | Non-current lease liabilities | Non-current liabilities | Over 2 years to 3 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | |
AUD | Non-current lease liabilities | Non-current liabilities | Over 3 years to 4 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | |
AUD | Non-current lease liabilities | Non-current liabilities | Over 4 years to 5 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 22,522 | |
AUD | Non-current lease liabilities | Non-current liabilities | Over 5 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 0 | |
AUD | Provisions for employee benefits, non-current | Non-current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | AUD | |
Liabilities held in foreign currencies | $ 91 | |
AUD | Provisions for employee benefits, non-current | Non-current liabilities | Over 1 year to 2 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | |
AUD | Provisions for employee benefits, non-current | Non-current liabilities | Over 2 years to 3 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | |
AUD | Provisions for employee benefits, non-current | Non-current liabilities | Over 3 years to 4 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | |
AUD | Provisions for employee benefits, non-current | Non-current liabilities | Over 4 years to 5 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | |
AUD | Provisions for employee benefits, non-current | Non-current liabilities | Over 5 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 91 | |
BRL | Trade and other payables | Current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | BRL | |
Liabilities held in foreign currencies | $ 12 | 10 |
BRL | Trade and other payables | Current liabilities | Up to 90 days | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 12 | 10 |
BRL | Trade and other payables | Current liabilities | 90 days to 1 year | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 0 | 0 |
BRL | Other current non-financial liabilities | Current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | BRL | |
Liabilities held in foreign currencies | $ 17 | 1 |
BRL | Other current non-financial liabilities | Current liabilities | Up to 90 days | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 17 | 1 |
BRL | Other current non-financial liabilities | Current liabilities | 90 days to 1 year | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 0 | 0 |
THB | Trade and other payables | Current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | THB | |
Liabilities held in foreign currencies | $ 4 | 4 |
THB | Trade and other payables | Current liabilities | Up to 90 days | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 4 | 4 |
THB | Trade and other payables | Current liabilities | 90 days to 1 year | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 0 | 0 |
CLP | Trade and other payables | Current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | CLP | |
Liabilities held in foreign currencies | $ 228,042 | 162,470 |
CLP | Trade and other payables | Current liabilities | Up to 90 days | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 227,990 | 162,470 |
CLP | Trade and other payables | Current liabilities | 90 days to 1 year | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 52 | 0 |
CLP | Other current provisions | Current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | CLP | |
Liabilities held in foreign currencies | $ 332 | 217 |
CLP | Other current provisions | Current liabilities | Up to 90 days | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 332 | 0 |
CLP | Other current provisions | Current liabilities | 90 days to 1 year | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 0 | 217 |
CLP | Current tax liabilities | Current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | CLP | |
Liabilities held in foreign currencies | $ 513 | 999 |
CLP | Current tax liabilities | Current liabilities | Up to 90 days | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
CLP | Current tax liabilities | Current liabilities | 90 days to 1 year | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 513 | 999 |
CLP | Provisions for employee benefits, current | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | CLP | |
Liabilities held in foreign currencies | $ 1,117 | 0 |
CLP | Provisions for employee benefits, current | Up to 90 days | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 1,117 | 0 |
CLP | Provisions for employee benefits, current | 90 days to 1 year | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 0 | 0 |
CLP | Other current non-financial liabilities | Current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | CLP | |
Liabilities held in foreign currencies | $ 57,567 | 47,737 |
CLP | Other current non-financial liabilities | Current liabilities | Up to 90 days | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 32,780 | 8,281 |
CLP | Other current non-financial liabilities | Current liabilities | 90 days to 1 year | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 24,787 | $ 39,456 |
CLP | Non-current lease liabilities | Non-current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | CLP | CLP |
Liabilities held in foreign currencies | $ 21 | $ 23 |
CLP | Non-current lease liabilities | Non-current liabilities | Over 1 year to 2 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
CLP | Non-current lease liabilities | Non-current liabilities | Over 2 years to 3 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
CLP | Non-current lease liabilities | Non-current liabilities | Over 3 years to 4 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
CLP | Non-current lease liabilities | Non-current liabilities | Over 4 years to 5 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 21 | 23 |
CLP | Non-current lease liabilities | Non-current liabilities | Over 5 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 0 | $ 0 |
CLP | Provisions for employee benefits, non-current | Non-current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | CLP | CLP |
Liabilities held in foreign currencies | $ 42,813 | $ 540 |
CLP | Provisions for employee benefits, non-current | Non-current liabilities | Over 1 year to 2 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 42,813 | 540 |
CLP | Provisions for employee benefits, non-current | Non-current liabilities | Over 2 years to 3 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
CLP | Provisions for employee benefits, non-current | Non-current liabilities | Over 3 years to 4 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
CLP | Provisions for employee benefits, non-current | Non-current liabilities | Over 4 years to 5 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
CLP | Provisions for employee benefits, non-current | Non-current liabilities | Over 5 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 0 | 0 |
CNY | Trade and other payables | Current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | CNY | |
Liabilities held in foreign currencies | $ 28,562 | 4,757 |
CNY | Trade and other payables | Current liabilities | Up to 90 days | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 28,562 | 4,757 |
CNY | Trade and other payables | Current liabilities | 90 days to 1 year | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 0 | 0 |
CNY | Current tax liabilities | Current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | CNY | |
Liabilities held in foreign currencies | $ 356 | 0 |
CNY | Current tax liabilities | Current liabilities | Up to 90 days | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
CNY | Current tax liabilities | Current liabilities | 90 days to 1 year | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 356 | 0 |
CNY | Other current non-financial liabilities | Current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | CNY | |
Liabilities held in foreign currencies | $ 134 | 92 |
CNY | Other current non-financial liabilities | Current liabilities | Up to 90 days | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 134 | 92 |
CNY | Other current non-financial liabilities | Current liabilities | 90 days to 1 year | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 0 | 0 |
GBP | Trade and other payables | Current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | GBP | |
Liabilities held in foreign currencies | $ 18 | 18 |
GBP | Trade and other payables | Current liabilities | Up to 90 days | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 18 | 18 |
GBP | Trade and other payables | Current liabilities | 90 days to 1 year | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 0 | 0 |
ZAR | Trade and other payables | Current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | ZAR | |
Liabilities held in foreign currencies | $ 984 | 1,256 |
ZAR | Trade and other payables | Current liabilities | Up to 90 days | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 984 | 1,256 |
ZAR | Trade and other payables | Current liabilities | 90 days to 1 year | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 0 | 0 |
ZAR | Other current non-financial liabilities | Current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | ZAR | |
Liabilities held in foreign currencies | $ 550 | 1 |
ZAR | Other current non-financial liabilities | Current liabilities | Up to 90 days | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 550 | 0 |
ZAR | Other current non-financial liabilities | Current liabilities | 90 days to 1 year | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 0 | 1 |
AED | Trade and other payables | Current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | AED | |
Liabilities held in foreign currencies | $ 0 | 72 |
AED | Trade and other payables | Current liabilities | Up to 90 days | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 72 |
AED | Trade and other payables | Current liabilities | 90 days to 1 year | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 0 | 0 |
JPY | Trade and other payables | Current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | JPY | |
Liabilities held in foreign currencies | $ 0 | 0 |
JPY | Trade and other payables | Current liabilities | Up to 90 days | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
JPY | Trade and other payables | Current liabilities | 90 days to 1 year | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 0 | 0 |
JPY | Other current provisions | Current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | JPY | |
Liabilities held in foreign currencies | $ 225 | 0 |
JPY | Other current provisions | Current liabilities | Up to 90 days | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 225 | 0 |
JPY | Other current provisions | Current liabilities | 90 days to 1 year | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 0 | 0 |
JPY | Other current non-financial liabilities | Current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | JPY | |
Liabilities held in foreign currencies | $ 49 | 47 |
JPY | Other current non-financial liabilities | Current liabilities | Up to 90 days | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 49 | 47 |
JPY | Other current non-financial liabilities | Current liabilities | 90 days to 1 year | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 0 | 0 |
JPY | Provisions for employee benefits, non-current | Non-current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | JPY | |
Liabilities held in foreign currencies | $ 218 | |
JPY | Provisions for employee benefits, non-current | Non-current liabilities | Over 1 year to 2 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 218 | |
JPY | Provisions for employee benefits, non-current | Non-current liabilities | Over 2 years to 3 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | |
JPY | Provisions for employee benefits, non-current | Non-current liabilities | Over 3 years to 4 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | |
JPY | Provisions for employee benefits, non-current | Non-current liabilities | Over 4 years to 5 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | |
JPY | Provisions for employee benefits, non-current | Non-current liabilities | Over 5 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 0 | |
CHF | Trade and other payables | Current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | CHF | |
Liabilities held in foreign currencies | $ 21 | 32 |
CHF | Trade and other payables | Current liabilities | Up to 90 days | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 21 | 32 |
CHF | Trade and other payables | Current liabilities | 90 days to 1 year | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 0 | 0 |
COP | Trade and other payables | Current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | COP | |
Liabilities held in foreign currencies | $ 302 | 115 |
COP | Trade and other payables | Current liabilities | Up to 90 days | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 302 | 115 |
COP | Trade and other payables | Current liabilities | 90 days to 1 year | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 0 | 0 |
COP | Other current non-financial liabilities | Current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | COP | |
Liabilities held in foreign currencies | $ 202 | 250 |
COP | Other current non-financial liabilities | Current liabilities | Up to 90 days | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 202 | 250 |
COP | Other current non-financial liabilities | Current liabilities | 90 days to 1 year | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 0 | 0 |
CAD | Trade and other payables | Current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | CAD | |
Liabilities held in foreign currencies | 0 | |
CAD | Trade and other payables | Current liabilities | Up to 90 days | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 2 | 0 |
CAD | Trade and other payables | Current liabilities | 90 days to 1 year | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | |
KRW | Trade and other payables | Current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | KRW | |
Liabilities held in foreign currencies | $ 492 | 189 |
KRW | Trade and other payables | Current liabilities | Up to 90 days | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 492 | 189 |
KRW | Trade and other payables | Current liabilities | 90 days to 1 year | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 0 | 0 |
KRW | Current tax liabilities | Current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | KRW | |
Liabilities held in foreign currencies | $ 5,197 | 0 |
KRW | Current tax liabilities | Current liabilities | Up to 90 days | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
KRW | Current tax liabilities | Current liabilities | 90 days to 1 year | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 5,197 | 0 |
KRW | Other current non-financial liabilities | Current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | KRW | |
Liabilities held in foreign currencies | $ 8,015 | 2,271 |
KRW | Other current non-financial liabilities | Current liabilities | Up to 90 days | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 8,015 | 2,271 |
KRW | Other current non-financial liabilities | Current liabilities | 90 days to 1 year | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 0 | 0 |
PEN | Other current non-financial liabilities | Current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | PEN | |
Liabilities held in foreign currencies | $ 0 | 0 |
PEN | Other current non-financial liabilities | Current liabilities | Up to 90 days | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
PEN | Other current non-financial liabilities | Current liabilities | 90 days to 1 year | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 0 | 0 |
ARS | Other current non-financial liabilities | Current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | ARS | |
Liabilities held in foreign currencies | $ 0 | 26 |
ARS | Other current non-financial liabilities | Current liabilities | Up to 90 days | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 26 |
ARS | Other current non-financial liabilities | Current liabilities | 90 days to 1 year | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 0 | $ 0 |
CLF | Other non-current financial liabilities | Non-current liabilities | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Currency | CLF | CLF |
Liabilities held in foreign currencies | $ 396,615 | $ 402,512 |
CLF | Other non-current financial liabilities | Non-current liabilities | Over 1 year to 2 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
CLF | Other non-current financial liabilities | Non-current liabilities | Over 2 years to 3 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
CLF | Other non-current financial liabilities | Non-current liabilities | Over 3 years to 4 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
CLF | Other non-current financial liabilities | Non-current liabilities | Over 4 years to 5 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | 0 | 0 |
CLF | Other non-current financial liabilities | Non-current liabilities | Over 5 years | ||
Disclosure Of Disclosures On The Effects Of Fluctuations In Foreign Currency Exchange Rates [Line Items] | ||
Liabilities held in foreign currencies | $ 396,615 | $ 402,512 |
Disclosures on the effects of_5
Disclosures on the effects of fluctuations in foreign currency exchange rates - Foreign Currency Exchange Rate Changes (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Foreign exchange rates [abstract] | |||
Foreign currency translation differences | $ (22,293) | $ (25,400) | $ (17,241) |
Foreign currency translation reserve | 3,177 | (255) | 4,240 |
Total | $ (19,116) | $ (25,655) | $ (13,001) |
Income tax and deferred taxes -
Income tax and deferred taxes - Current and Non-Current Tax Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Major Components Of Tax Expense [Line Items] | ||
Current tax assets | $ 637,033 | $ 224,914 |
Non-current tax assets | 59,541 | 127,114 |
Monthly provisional income tax payments, Chilean companies | ||
Major Components Of Tax Expense [Line Items] | ||
Current tax assets | 584,382 | 894 |
Monthly provisional income tax payments, foreign companies | ||
Major Components Of Tax Expense [Line Items] | ||
Current tax assets | 26,741 | 96,906 |
Corporate tax credits | ||
Major Components Of Tax Expense [Line Items] | ||
Current tax assets | 1,918 | 653 |
1st category tax absorbed by tax losses | ||
Major Components Of Tax Expense [Line Items] | ||
Current tax assets | 1,872 | 169 |
Taxes in recovery process | ||
Major Components Of Tax Expense [Line Items] | ||
Current tax assets | 22,120 | 126,292 |
Non current tax receivable (see note 20.3) | ||
Major Components Of Tax Expense [Line Items] | ||
Non-current tax assets | $ 59,541 | $ 127,114 |
Income tax and deferred taxes_2
Income tax and deferred taxes - Current Tax Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Major Components Of Tax Expense [Line Items] | ||
Current tax liabilities | $ 183,633 | $ 356,611 |
Chilean income tax | ||
Major Components Of Tax Expense [Line Items] | ||
Current tax liabilities | 636 | 337,245 |
Specific mining tax to lithium mining | ||
Major Components Of Tax Expense [Line Items] | ||
Current tax liabilities | 162,743 | 0 |
Foreign company income tax | ||
Major Components Of Tax Expense [Line Items] | ||
Current tax liabilities | $ 20,254 | $ 19,366 |
Income tax and deferred taxes_3
Income tax and deferred taxes - Narrative (Details) - yr | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure Of Income Tax And Deferred Taxes [Line Items] | |||
Applicable tax rate, percentage | 27% | 27% | 27% |
Prescriptive period for review legal deadline (in years) | 3 | ||
Prescriptive period extended for review legal deadline (in years) | 6 | ||
United States | |||
Disclosure Of Income Tax And Deferred Taxes [Line Items] | |||
Prescriptive period for review legal deadline (in years) | 3 | ||
Prescriptive period extended for review legal deadline (in years) | 6 | ||
United States | Bottom of range | |||
Disclosure Of Income Tax And Deferred Taxes [Line Items] | |||
Applicable tax rate, percentage | 21% | 21% | |
United States | Top of range | |||
Disclosure Of Income Tax And Deferred Taxes [Line Items] | |||
Applicable tax rate, percentage | 3% | 3.51% | |
Mexico | |||
Disclosure Of Income Tax And Deferred Taxes [Line Items] | |||
Applicable tax rate, percentage | 30% | 30% | |
Prescriptive period for review legal deadline (in years) | 5 | ||
Spain | |||
Disclosure Of Income Tax And Deferred Taxes [Line Items] | |||
Prescriptive period for review legal deadline (in years) | 4 | ||
Belgium | |||
Disclosure Of Income Tax And Deferred Taxes [Line Items] | |||
Prescriptive period for review legal deadline (in years) | 3 | ||
Prescriptive period extended for review legal deadline (in years) | 5 | ||
South Africa | |||
Disclosure Of Income Tax And Deferred Taxes [Line Items] | |||
Applicable tax rate, percentage | 27% | 28% | |
Prescriptive period for review legal deadline (in years) | 3 | ||
Prescriptive period extended for review legal deadline (in years) | 5 | ||
China | |||
Disclosure Of Income Tax And Deferred Taxes [Line Items] | |||
Prescriptive period for review legal deadline (in years) | 3 | ||
Prescriptive period extended for review legal deadline (in years) | 5 | ||
China | Bottom of range | |||
Disclosure Of Income Tax And Deferred Taxes [Line Items] | |||
Applicable tax rate, percentage | 25% | 25% | |
China | Top of range | |||
Disclosure Of Income Tax And Deferred Taxes [Line Items] | |||
Applicable tax rate, percentage | 12% | 12% | |
South Korea | |||
Disclosure Of Income Tax And Deferred Taxes [Line Items] | |||
Applicable tax rate, percentage | 24% | 25% | |
Prescriptive period for review legal deadline (in years) | 5 | ||
Prescriptive period extended for review legal deadline (in years) | 7 | ||
South Korea | Bottom of range | |||
Disclosure Of Income Tax And Deferred Taxes [Line Items] | |||
Applicable tax rate, percentage | 9% | ||
Prescriptive period extended for review legal deadline failure to file tax return (in years) | 5 years | ||
Prescriptive period extended for review legal deadline, tax evasion or fraud (in years) | 10 years | ||
South Korea | Top of range | |||
Disclosure Of Income Tax And Deferred Taxes [Line Items] | |||
Applicable tax rate, percentage | 24% | ||
Prescriptive period extended for review legal deadline failure to file tax return (in years) | 10 years | ||
Prescriptive period extended for review legal deadline, tax evasion or fraud (in years) | 15 years | ||
Mining royalties operation | |||
Disclosure Of Income Tax And Deferred Taxes [Line Items] | |||
Applicable tax rate, percentage | 5.49% | ||
Caliche extraction operation | |||
Disclosure Of Income Tax And Deferred Taxes [Line Items] | |||
Applicable tax rate, percentage | 5% |
Income tax and deferred taxes_4
Income tax and deferred taxes - Tax Rate within Main Countries the Company Operates (Details) | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Income tax and deferred taxes [Line Items] | |||
Applicable tax rate, percentage | 27% | 27% | 27% |
Rate on value added tax payable, percentage | 12% | ||
Spain | |||
Income tax and deferred taxes [Line Items] | |||
Applicable tax rate, percentage | 25% | 25% | |
Belgium | |||
Income tax and deferred taxes [Line Items] | |||
Applicable tax rate, percentage | 25% | 25% | |
Mexico | |||
Income tax and deferred taxes [Line Items] | |||
Applicable tax rate, percentage | 30% | 30% | |
United States | Top of range | |||
Income tax and deferred taxes [Line Items] | |||
Applicable tax rate, percentage | 3% | 3.51% | |
United States | Minimum | |||
Income tax and deferred taxes [Line Items] | |||
Applicable tax rate, percentage | 21% | 21% | |
South Africa | |||
Income tax and deferred taxes [Line Items] | |||
Applicable tax rate, percentage | 27% | 28% | |
South Korea | |||
Income tax and deferred taxes [Line Items] | |||
Applicable tax rate, percentage | 24% | 25% | |
South Korea | Top of range | |||
Income tax and deferred taxes [Line Items] | |||
Applicable tax rate, percentage | 24% | ||
South Korea | Minimum | |||
Income tax and deferred taxes [Line Items] | |||
Applicable tax rate, percentage | 9% | ||
China | Top of range | |||
Income tax and deferred taxes [Line Items] | |||
Applicable tax rate, percentage | 12% | 12% | |
China | Minimum | |||
Income tax and deferred taxes [Line Items] | |||
Applicable tax rate, percentage | 25% | 25% |
Income tax and deferred taxes_5
Income tax and deferred taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 |
Major Components Of Tax Expense [Line Items] | |||
Deferred tax assets | $ 302,236 | $ 604,471 | |
Deferred tax liabilities | (394,688) | (289,825) | |
Total | (92,452) | 314,646 | $ (110,416) |
Unrealized loss | |||
Major Components Of Tax Expense [Line Items] | |||
Deferred tax assets | 321,340 | 655,695 | |
Deferred tax liabilities | 0 | 0 | |
Total | 321,340 | 655,695 | 144,181 |
Property, plant and equipment and capitalized interest | |||
Major Components Of Tax Expense [Line Items] | |||
Deferred tax assets | 0 | 0 | |
Deferred tax liabilities | (240,056) | (244,560) | |
Total | (240,056) | (244,560) | (189,073) |
Restoration and rehabilitation provision | |||
Major Components Of Tax Expense [Line Items] | |||
Deferred tax assets | 6,336 | 4,685 | |
Deferred tax liabilities | 0 | 0 | |
Total | 6,336 | 4,685 | |
Manufacturing expenses | |||
Major Components Of Tax Expense [Line Items] | |||
Deferred tax assets | 0 | 0 | |
Deferred tax liabilities | (159,879) | (139,383) | |
Total | (159,879) | (139,383) | (108,181) |
Employee benefits and unemployment insurance | |||
Major Components Of Tax Expense [Line Items] | |||
Deferred tax assets | 0 | 0 | |
Deferred tax liabilities | (9,438) | (8,995) | |
Total | (9,438) | (8,995) | (7,486) |
Vacation accrual | |||
Major Components Of Tax Expense [Line Items] | |||
Deferred tax assets | 9,373 | 7,650 | |
Deferred tax liabilities | 0 | 0 | |
Total | 9,373 | 7,650 | 6,039 |
Inventory provision | |||
Major Components Of Tax Expense [Line Items] | |||
Deferred tax assets | 34,718 | 27,512 | |
Deferred tax liabilities | 0 | 0 | |
Total | 34,718 | 27,512 | 20,557 |
Materials provision | |||
Major Components Of Tax Expense [Line Items] | |||
Deferred tax assets | 14,405 | 11,915 | |
Deferred tax liabilities | 0 | 0 | |
Total | 14,405 | 11,915 | 10,554 |
Others employee benefits | |||
Major Components Of Tax Expense [Line Items] | |||
Deferred tax assets | 6,561 | 1,177 | |
Deferred tax liabilities | 0 | 0 | |
Research and development expenses | |||
Major Components Of Tax Expense [Line Items] | |||
Deferred tax assets | 0 | 0 | |
Deferred tax liabilities | (16,046) | (12,294) | |
Total | (16,046) | (12,294) | (5,387) |
Bad debt provision | |||
Major Components Of Tax Expense [Line Items] | |||
Deferred tax assets | 3,060 | 715 | |
Deferred tax liabilities | 0 | 0 | |
Total | 3,060 | 715 | 2,708 |
Provision for legal complaints and expenses | |||
Major Components Of Tax Expense [Line Items] | |||
Deferred tax assets | 2,932 | 6,827 | |
Deferred tax liabilities | 0 | 0 | |
Total | 2,932 | 6,827 | 334 |
Loan acquisition expenses | |||
Major Components Of Tax Expense [Line Items] | |||
Deferred tax assets | 0 | 0 | |
Deferred tax liabilities | (12,735) | (8,793) | |
Financial instruments recorded at market value | |||
Major Components Of Tax Expense [Line Items] | |||
Deferred tax assets | 0 | 5,226 | |
Deferred tax liabilities | (52,016) | 0 | |
Specific tax on mining activity | |||
Major Components Of Tax Expense [Line Items] | |||
Deferred tax assets | 0 | 0 | |
Deferred tax liabilities | (3,303) | (5,799) | |
Tax loss benefit | |||
Major Components Of Tax Expense [Line Items] | |||
Deferred tax assets | 23,340 | 10,059 | |
Deferred tax liabilities | 0 | 0 | |
Total | 23,340 | 10,059 | 8,557 |
Other | |||
Major Components Of Tax Expense [Line Items] | |||
Deferred tax assets | 0 | 2,913 | |
Deferred tax liabilities | (21,119) | 0 | |
Total | (21,119) | 2,913 | (4,274) |
Foreign items (other) | |||
Major Components Of Tax Expense [Line Items] | |||
Deferred tax assets | 75 | 96 | |
Deferred tax liabilities | 0 | 0 | |
Total | 75 | 96 | $ 11,828 |
Balances to date | |||
Major Components Of Tax Expense [Line Items] | |||
Deferred tax assets | 422,140 | 734,470 | |
Deferred tax liabilities | $ (514,592) | $ (419,824) |
Income tax and deferred taxes_6
Income tax and deferred taxes - Deferred Tax Assets and Liabilities in the Statement of Financial Position (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 |
Major components of tax expense (income) [abstract] | |||
Deferred tax assets | $ 302,236 | $ 604,471 | |
Deferred tax liabilities | (394,688) | (289,825) | |
Total | $ (92,452) | $ 314,646 | $ (110,416) |
Income tax and deferred taxes_7
Income tax and deferred taxes - Reconciliation of Changes in Deferred Tax Liabilities (Assets) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure Of Income Tax And Deferred Taxes [Line Items] | ||
Deferred tax liability (asset) at beginning of period | $ 314,646 | $ (110,416) |
Deferred tax expense (income) recognised in profit or loss | (346,391) | 430,978 |
Deferred tax relating to items credited (charged) directly to equity | (60,707) | (5,916) |
Total change in deferred taxes | (407,098) | 425,062 |
Deferred tax liability (asset) at end of period | (92,452) | 314,646 |
Unrealized loss | ||
Disclosure Of Income Tax And Deferred Taxes [Line Items] | ||
Deferred tax liability (asset) at beginning of period | 655,695 | 144,181 |
Deferred tax expense (income) recognised in profit or loss | (334,355) | 511,514 |
Deferred tax relating to items credited (charged) directly to equity | 0 | 0 |
Total change in deferred taxes | (334,355) | 511,514 |
Deferred tax liability (asset) at end of period | 321,340 | 655,695 |
Property, plant and equipment and capitalized interest | ||
Disclosure Of Income Tax And Deferred Taxes [Line Items] | ||
Deferred tax liability (asset) at beginning of period | (244,560) | (189,073) |
Deferred tax expense (income) recognised in profit or loss | 4,504 | (55,487) |
Deferred tax relating to items credited (charged) directly to equity | 0 | 0 |
Total change in deferred taxes | 4,504 | (55,487) |
Deferred tax liability (asset) at end of period | (240,056) | (244,560) |
Restoration and rehabilitation provision | ||
Disclosure Of Income Tax And Deferred Taxes [Line Items] | ||
Deferred tax liability (asset) at beginning of period | 4,685 | |
Deferred tax expense (income) recognised in profit or loss | 1,651 | |
Deferred tax relating to items credited (charged) directly to equity | 0 | |
Total change in deferred taxes | 1,651 | |
Deferred tax liability (asset) at end of period | 6,336 | 4,685 |
Restoration and rehabilitation provision | ||
Disclosure Of Income Tax And Deferred Taxes [Line Items] | ||
Deferred tax liability (asset) at beginning of period | 4,685 | 6,567 |
Deferred tax expense (income) recognised in profit or loss | (1,882) | |
Deferred tax relating to items credited (charged) directly to equity | 0 | |
Total change in deferred taxes | (1,882) | |
Deferred tax liability (asset) at end of period | 4,685 | |
Manufacturing expenses | ||
Disclosure Of Income Tax And Deferred Taxes [Line Items] | ||
Deferred tax liability (asset) at beginning of period | (139,383) | (108,181) |
Deferred tax expense (income) recognised in profit or loss | (20,496) | (31,202) |
Deferred tax relating to items credited (charged) directly to equity | 0 | 0 |
Total change in deferred taxes | (20,496) | (31,202) |
Deferred tax liability (asset) at end of period | (159,879) | (139,383) |
Employee benefits and unemployment insurance | ||
Disclosure Of Income Tax And Deferred Taxes [Line Items] | ||
Deferred tax liability (asset) at beginning of period | (8,995) | (7,486) |
Deferred tax expense (income) recognised in profit or loss | (2,020) | (2,779) |
Deferred tax relating to items credited (charged) directly to equity | 1,577 | 1,270 |
Total change in deferred taxes | (443) | (1,509) |
Deferred tax liability (asset) at end of period | (9,438) | (8,995) |
Vacation accrual | ||
Disclosure Of Income Tax And Deferred Taxes [Line Items] | ||
Deferred tax liability (asset) at beginning of period | 7,650 | 6,039 |
Deferred tax expense (income) recognised in profit or loss | 1,723 | 1,611 |
Deferred tax relating to items credited (charged) directly to equity | 0 | 0 |
Total change in deferred taxes | 1,723 | 1,611 |
Deferred tax liability (asset) at end of period | 9,373 | 7,650 |
Inventory provision | ||
Disclosure Of Income Tax And Deferred Taxes [Line Items] | ||
Deferred tax liability (asset) at beginning of period | 27,512 | 20,557 |
Deferred tax expense (income) recognised in profit or loss | 7,206 | 6,955 |
Deferred tax relating to items credited (charged) directly to equity | 0 | 0 |
Total change in deferred taxes | 7,206 | 6,955 |
Deferred tax liability (asset) at end of period | 34,718 | 27,512 |
Materials provision | ||
Disclosure Of Income Tax And Deferred Taxes [Line Items] | ||
Deferred tax liability (asset) at beginning of period | 11,915 | 10,554 |
Deferred tax expense (income) recognised in profit or loss | 2,490 | 1,361 |
Deferred tax relating to items credited (charged) directly to equity | 0 | 0 |
Total change in deferred taxes | 2,490 | 1,361 |
Deferred tax liability (asset) at end of period | 14,405 | 11,915 |
Derivative financial instruments | ||
Disclosure Of Income Tax And Deferred Taxes [Line Items] | ||
Deferred tax liability (asset) at beginning of period | 0 | 0 |
Deferred tax expense (income) recognised in profit or loss | 5,047 | 7,172 |
Deferred tax relating to items credited (charged) directly to equity | (5,047) | (7,172) |
Total change in deferred taxes | 0 | 0 |
Deferred tax liability (asset) at end of period | 0 | 0 |
Others employee benefits | ||
Disclosure Of Income Tax And Deferred Taxes [Line Items] | ||
Deferred tax liability (asset) at beginning of period | 1,177 | 929 |
Deferred tax expense (income) recognised in profit or loss | 5,384 | 248 |
Deferred tax relating to items credited (charged) directly to equity | 0 | 0 |
Total change in deferred taxes | 5,384 | 248 |
Deferred tax liability (asset) at end of period | 6,561 | 1,177 |
Research and development expenses | ||
Disclosure Of Income Tax And Deferred Taxes [Line Items] | ||
Deferred tax liability (asset) at beginning of period | (12,294) | (5,387) |
Deferred tax expense (income) recognised in profit or loss | (3,752) | (6,907) |
Deferred tax relating to items credited (charged) directly to equity | 0 | 0 |
Total change in deferred taxes | (3,752) | (6,907) |
Deferred tax liability (asset) at end of period | (16,046) | (12,294) |
Bad debt provision | ||
Disclosure Of Income Tax And Deferred Taxes [Line Items] | ||
Deferred tax liability (asset) at beginning of period | 715 | 2,708 |
Deferred tax expense (income) recognised in profit or loss | 2,345 | (1,993) |
Deferred tax relating to items credited (charged) directly to equity | 0 | 0 |
Total change in deferred taxes | 2,345 | (1,993) |
Deferred tax liability (asset) at end of period | 3,060 | 715 |
Provision for legal complaints and expenses | ||
Disclosure Of Income Tax And Deferred Taxes [Line Items] | ||
Deferred tax liability (asset) at beginning of period | 6,827 | 334 |
Deferred tax expense (income) recognised in profit or loss | (3,895) | 6,493 |
Deferred tax relating to items credited (charged) directly to equity | 0 | 0 |
Total change in deferred taxes | (3,895) | 6,493 |
Deferred tax liability (asset) at end of period | 2,932 | 6,827 |
Loan approval expenses | ||
Disclosure Of Income Tax And Deferred Taxes [Line Items] | ||
Deferred tax liability (asset) at beginning of period | (8,793) | (8,967) |
Deferred tax expense (income) recognised in profit or loss | (3,942) | 174 |
Deferred tax relating to items credited (charged) directly to equity | 0 | 0 |
Total change in deferred taxes | (3,942) | 174 |
Deferred tax liability (asset) at end of period | (12,735) | (8,793) |
Financial instruments recorded at market value | ||
Disclosure Of Income Tax And Deferred Taxes [Line Items] | ||
Deferred tax liability (asset) at beginning of period | 5,226 | 5,243 |
Deferred tax expense (income) recognised in profit or loss | 0 | 0 |
Deferred tax relating to items credited (charged) directly to equity | (57,242) | (17) |
Total change in deferred taxes | (57,242) | (17) |
Deferred tax liability (asset) at end of period | (52,016) | 5,226 |
Specific tax on mining activity | ||
Disclosure Of Income Tax And Deferred Taxes [Line Items] | ||
Deferred tax liability (asset) at beginning of period | (5,799) | (4,545) |
Deferred tax expense (income) recognised in profit or loss | 2,491 | (1,257) |
Deferred tax relating to items credited (charged) directly to equity | 5 | 3 |
Total change in deferred taxes | 2,496 | (1,254) |
Deferred tax liability (asset) at end of period | (3,303) | (5,799) |
Tax loss benefit | ||
Disclosure Of Income Tax And Deferred Taxes [Line Items] | ||
Deferred tax liability (asset) at beginning of period | 10,059 | 8,557 |
Deferred tax expense (income) recognised in profit or loss | 13,281 | 1,502 |
Deferred tax relating to items credited (charged) directly to equity | 0 | 0 |
Total change in deferred taxes | 13,281 | 1,502 |
Deferred tax liability (asset) at end of period | 23,340 | 10,059 |
Other | ||
Disclosure Of Income Tax And Deferred Taxes [Line Items] | ||
Deferred tax liability (asset) at beginning of period | 2,913 | (4,274) |
Deferred tax expense (income) recognised in profit or loss | (24,032) | 7,187 |
Deferred tax relating to items credited (charged) directly to equity | 0 | 0 |
Total change in deferred taxes | (24,032) | 7,187 |
Deferred tax liability (asset) at end of period | (21,119) | 2,913 |
Foreign items (other) | ||
Disclosure Of Income Tax And Deferred Taxes [Line Items] | ||
Deferred tax liability (asset) at beginning of period | 96 | 11,828 |
Deferred tax expense (income) recognised in profit or loss | (21) | (11,732) |
Deferred tax relating to items credited (charged) directly to equity | 0 | 0 |
Total change in deferred taxes | (21) | (11,732) |
Deferred tax liability (asset) at end of period | $ 75 | $ 96 |
Income tax and deferred taxes_8
Income tax and deferred taxes - Tax Loss Carryforwards (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure Of Income Tax And Deferred Taxes [Line Items] | ||
Deferred taxes related to benefits for tax losses | $ 23,340 | $ 10,059 |
Chile | ||
Disclosure Of Income Tax And Deferred Taxes [Line Items] | ||
Deferred taxes related to benefits for tax losses | 16,087 | 10,059 |
Foreign | ||
Disclosure Of Income Tax And Deferred Taxes [Line Items] | ||
Deferred taxes related to benefits for tax losses | $ 7,253 | $ 0 |
Income tax and deferred taxes_9
Income tax and deferred taxes - Movements in Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Major components of tax expense (income) [abstract] | ||
Deferred tax liability (asset) at beginning of period | $ 314,646 | $ (110,416) |
Increase (decrease) in deferred taxes in income | (346,391) | 430,978 |
Increase (decrease) deferred taxes in equity | (60,707) | (5,916) |
Deferred tax liability (asset) at end of period | $ (92,452) | $ 314,646 |
Income tax and deferred taxe_10
Income tax and deferred taxes - Current and Deferred Tax (Expenses) Benefits (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Current income tax (expense) benefit | |||
Current tax expense (income) | $ (1,533,809) | $ (2,002,564) | $ (279,105) |
Adjustments to prior year current income tax (expense) benefit | 3,449 | (626) | 2,326 |
Current income tax expense, net, total | (1,530,360) | (2,003,190) | (276,779) |
Deferred tax (expense) benefit | |||
Deferred tax benefits relating to the creation and reversal of temporary differences | (342,363) | 427,680 | 28,445 |
Tax adjustments related to the creation and reversal of temporary differences from the previous year | (4,028) | 3,298 | (682) |
Total deferred tax benefits, net | (346,391) | 430,978 | 27,763 |
Income tax expense | (1,876,751) | $ (1,572,212) | $ (249,016) |
Specific mining tax to lithium mining | |||
Current income tax (expense) benefit | |||
Current tax expense (income) | $ (1,089,500) |
Income tax and deferred taxe_11
Income tax and deferred taxes - Income Tax (Expenses) Benefit for Foreign and Domestic Parties (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Current income tax benefit (expense) by foreign and domestic parties, net | |||
Current income tax expense, net, total | $ (1,530,360) | $ (2,003,190) | $ (276,779) |
Deferred tax benefit (expense) by foreign and domestic parties, net | |||
Deferred tax expense, net, total | (346,391) | 430,978 | 27,763 |
Income tax expense | (1,876,751) | (1,572,212) | (249,016) |
Foreign countries | |||
Current income tax benefit (expense) by foreign and domestic parties, net | |||
Current income tax expense, net, total | (120,893) | (213,060) | (46,748) |
Deferred tax benefit (expense) by foreign and domestic parties, net | |||
Deferred tax expense, net, total | (34,014) | (21,338) | (6,679) |
Country of domicile | |||
Current income tax benefit (expense) by foreign and domestic parties, net | |||
Current income tax expense, net, total | (1,409,467) | (1,790,130) | (230,031) |
Deferred tax benefit (expense) by foreign and domestic parties, net | |||
Deferred tax expense, net, total | (312,377) | $ 452,316 | $ 34,442 |
Country of domicile | Specific mining tax to lithium mining | |||
Current income tax benefit (expense) by foreign and domestic parties, net | |||
Current income tax expense, net, total | $ (1,089,500) |
Income tax and deferred taxe_12
Income tax and deferred taxes - Tax Effects of Other Comprehensive Income Components (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Income tax related to other income and expense components with a charge or credit to net equity | |||
(Losses) income from defined benefit plans | $ (1,582) | $ (1,273) | $ 142 |
Cash flow hedges | 5,047 | 7,172 | (14,246) |
Amount before taxes (expense) gain | |||
Income tax related to other income and expense components with a charge or credit to net equity | |||
(Losses) income from defined benefit plans | (5,843) | (6,350) | 4,679 |
Cash flow hedges | 18,692 | 26,622 | (52,762) |
Reserve for (losses) income from financial assets measured at fair value through other comprehensive income | 190,509 | 190 | (12,072) |
Total | 203,358 | 20,462 | (60,155) |
(Expense) income for income taxes | |||
Income tax related to other income and expense components with a charge or credit to net equity | |||
(Losses) income from defined benefit plans | 1,582 | 1,273 | (142) |
Cash flow hedges | (5,047) | (7,172) | 14,246 |
Reserve for (losses) income from financial assets measured at fair value through other comprehensive income | (57,242) | (17) | 3,818 |
Total | (60,707) | (5,916) | 17,922 |
Amount after taxes | |||
Income tax related to other income and expense components with a charge or credit to net equity | |||
(Losses) income from defined benefit plans | (4,261) | (5,077) | 4,537 |
Cash flow hedges | 13,645 | 19,450 | (38,516) |
Reserve for (losses) income from financial assets measured at fair value through other comprehensive income | 133,267 | 173 | (8,254) |
Total | $ 142,651 | $ 14,546 | $ (42,233) |
Income tax and deferred taxe_13
Income tax and deferred taxes - Reconciliation of Statutory Tax Rate to Effective Tax Rate (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Reconciliation of accounting profit multiplied by applicable tax rates [abstract] | |||
Consolidated income before taxes | $ 2,807,018 | $ 5,486,496 | $ 841,221 |
Statutory income tax rate in Chile | 27% | 27% | 27% |
Tax expense using the statutory tax rate | $ (757,895) | $ (1,481,354) | $ (227,130) |
Net effect of royalty tax payments | (6,889) | (57,500) | (13,350) |
Specific mining tax to lithium mining claims | (1,089,476) | 0 | 0 |
Tax effect of income from regular activities exempt from taxation and dividends from abroad | (1,457) | 3,490 | (260) |
Tax rate effect of non-tax-deductible expenses for determining taxable profit (loss) | 3,509 | (11,058) | (2,226) |
Effect due to the difference in tax rates related to abroad subsidiaries | (24,748) | (25,053) | (5,622) |
Other tax effects of reconciliation of accounting income to tax expense | 205 | (737) | (428) |
Income tax expense | $ (1,876,751) | $ (1,572,212) | $ (249,016) |
Events occurred after the rep_2
Events occurred after the reporting date (Details) $ / shares in Units, $ in Millions | 12 Months Ended | ||||||
May 16, 2024 $ / shares | Apr. 05, 2024 USD ($) | Mar. 28, 2024 $ / shares | Dec. 18, 2023 $ / shares | Apr. 26, 2023 $ / shares | Dec. 31, 2023 $ / shares | Apr. 10, 2024 | |
Disclosure of non-adjusting events after reporting period [line items] | |||||||
Final dividend (in USD per share) | $ 2.11386 | $ 3.22373 | |||||
Dividends paid (in USD per share) | $ 1.90047 | ||||||
Forecast | |||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||
Dividends paid (in USD per share) | $ 0.21339 | ||||||
Azure Minerals Limited | |||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||
Proportion of ownership interest in associate, percentage | 18.40% | ||||||
Joint scheme of arrangement, acquisition, cash price (in AUD per share) | $ 3.70 | ||||||
Joint scheme of arrangement, acquisition, joint off-market takeover bid, cash price (in AUD per share) | $ 3.65 | ||||||
Extraordinary Shareholder Meeting | |||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||
Threshold percentage of shares held | 0.10 | ||||||
Chilean Internal Revenue Service (IRS) | SQM Salar | Pending Litigation Claims | |||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||
Adjustment to tax expense (income) | $ | $ 1,089.5 | ||||||
Chilean Internal Revenue Service (IRS) | SQM Salar | Income Tax Contingencies | |||||||
Disclosure of non-adjusting events after reporting period [line items] | |||||||
Income taxes paid (refund) | $ | $ 986.2 |