ARAUCO & CONSTITUTION PULP INC | CIK:0001004156 | 3

  • Filed: 5/9/2018
  • Entity registrant name: ARAUCO & CONSTITUTION PULP INC (CIK: 0001004156)
  • Generator: DataTracks
  • SEC filing page: http://www.sec.gov/Archives/edgar/data/1004156/000119312518157677/0001193125-18-157677-index.htm
  • XBRL Instance: http://www.sec.gov/Archives/edgar/data/1004156/000119312518157677/arauco-20171231.xml
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    • ifrs-full:DisclosureOfOtherProvisionsExplanatory

     
     
    12-31-2017
     
     
     
     
     
    Other
     
     
     
     
     
    Litigations (*)
     
    Provisions  (**)
     
    Total
     
    Movements in Provisions
     
    ThU.S.$
     
    ThU.S.$
     
    ThU.S.$
     
    Opening balance
     
    15,123
     
    23,857
     
    38,980
     
    Changes in provisions
     
     
     
     
     
     
     
    Increase in existing provisions
     
    1,314
     
    16
     
    1,330
     
    Increase through business combinations
     
    -
     
    2,106
     
    2,106
     
    Used provisions
     
    (1,578)
     
    -
     
    (1,578)
     
    Increase (decrease) in foreign currency exchange
     
    (1,493)
     
    -
     
    (1,493)
     
    Other Increases (Decreases)
     
    (193)
     
    (416)
     
    (609)
     
    Total Changes
     
    (1,950)
     
    1,706
     
    (244)
     
    Closing balance
     
    13,173
     
    25,563
     
    38,736
     
    (*) The increase in legal claims is composed mainly of ThU.S.$908 and ThU.S.$375 Brazilian and Argentine subsidiaries respectively) in connection with civil and labor lawsuits.
     
    (**) The change in Other Increases (Decreases) in Other provisions is due to a reverse of the provision in Zona Franca Punta Pereira (Uruguay). The increase through business combination corresponds to the acquisition of Arauco Industrias de Paineis.
     
     
     
    12-31-2016
     
     
     
     
     
    Other
     
     
     
     
     
    Litigations (*)
     
    Provisions (**)
     
    Total
     
    Movements in Provisions
     
    ThU.S.$
     
    ThU.S.$
     
    ThU.S.$
     
    Opening balance
     
    11,400
     
    23,999
     
    35,399
     
    Changes in provisions
     
     
     
     
     
     
     
    Increase in existing provisions
     
    5,363
     
    1
     
    5,364
     
    Used provisions
     
    (998)
     
    (39)
     
    (1,037)
     
    Increase (decrease) in foreign currency exchange
     
    (609)
     
    -
     
    (609)
     
    Other Increases (Decreases)
     
    (33)
     
    (104)
     
    (137)
     
    Total Changes
     
    3,723
     
    (142)
     
    3,581
     
    Closing balance
     
    15,123
     
    23,857
     
    38,980
     
    (*) The increase in legal claims is composed mainly of ThU.S.$ 863 and ThU.S.$ 2,255 (Brazilian and Argentine subsidiaries respectively) in connection with civil and labor lawsuits, and ThU.S.$1,490 from Arauco Argentina in connection of fees in lawsuits.
     
    (**) The change in Other Increases (Decreases) in Other provisions is due to a reverse of the ThU.S.$ 100 corresponding to Arauco Argentina.
     
     
     
    12-31-2015
     
     
     
     
     
    Other
     
     
     
     
     
    Litigations (*)
     
    Provisions (**)
     
    Total
     
    Movements in Provisions
     
    ThU.S.$
     
    ThU.S.$
     
    ThU.S.$
     
    Opening balance
     
    16,038
     
    51,026
     
    67,064
     
    Changes in provisions
     
     
     
     
     
     
     
    Increase in existing provisions
     
    2,555
     
    1,429
     
    3,984
     
    Used provisions
     
    (2,990)
     
    -
     
    (2,990)
     
    Increase (decrease) in foreign currency exchange
     
    (5,163)
     
    -
     
    (5,163)
     
    Other Increases (Decreases)
     
    960
     
    (28,456)
     
    (27,496)
     
    Total Changes
     
    (4,638)
     
    (27,027)
     
    (31,665)
     
    Closing balance
     
    11,400
     
    23,999
     
    35,399
     
    (*)The increase in legal claims is composed mainly of ThU.S.$1,558 from Brazilian subsidiaries in connection with civil and labor lawsuits, being the latter the most important. In addition there are ThU.S.$840 from Arauco Argentina in connection with labor lawsuits.
     
    (**)The increase of Other Provisions comprises mainly an increase of ThU.S.$1,429 from Arauco Argentina for export duties. While in the Other Increases (Decreases), line item, the reverse of Negative Equity to Arauco Forest Brasil over Novo Oeste by ThU.S.$ 25,290 and Forestal Cholguán over Sercor is reflected by ThU.S.$2,850.