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:DisclosureOfLeasesExplanatory

    NOTE 8. LEASES
     
    Arauco acting as lessee
     
     
     
    12-31-2017
     
    12-31-2016
     
     
     
    ThU.S.$
     
    ThU.S.$
     
    Property, Plant and Equipment under finance leases
     
    116,534
     
    117,206
     
    Plant and equipment
     
    116,534
     
    117,206
     
     
    Reconciliation of Financial Lease Minimum Payments:
     
     
     
    12-31-2017
     
     
     
    Present Value
     
    Periods
     
    ThU.S.$
     
    Less than one year
     
    44,341
     
    Between one and five years
     
    68,035
     
    More than five years
     
    -
     
    Total
     
    112,376
     
     
     
     
    12-31-2016
     
     
     
    Present Value
     
    Periods
     
    ThU.S.$
     
    Less than one year
     
    40,400
     
    Between one and five years
     
    73,586
     
    More than five years
     
    -
     
    Total
     
    113,986
     
     
    Lease obligations are presented in the consolidated statements of financial position in line items “Other current financial liabilities” and “Other non-current financial liabilities” depending on their respective maturities as stated above.
     
    Araucoacting as lessor
     
    Reconciliation of Financial Lease Minimum Payments:
     
     
     
    12-31-2017
     
     
     
    Gross
     
    Interest
     
    Present Value
     
    Periods
     
    ThU.S.$
     
    ThU.S.$
     
    ThU.S.$
     
    Less than one year
     
    12,001
     
    69
     
    11,932
     
    Between one and five years
     
    1,174
     
    -
     
    1,174
     
    More than five years
     
    -
     
    -
     
    -
     
    Total
     
    13,175
     
    69
     
    13,106
     
     
     
     
    12-31-2016
     
     
     
    Gross
     
    Interest
     
    Present Value
     
    Periods
     
    ThU.S.$
     
    ThU.S.$
     
    ThU.S.$
     
    Less than one year
     
    512
     
    -
     
    512
     
    Between one and five years
     
    353
     
    -
     
    353
     
    More than five years
     
    -
     
    -
     
    -
     
    Total
     
    865
     
    -
     
    865
     
     
    Finance lease receivables are presented in the consolidated statements of financial position in line items “Trade and other current receivable” and “Trade and other non-current receivable” depending on their maturities stated above.
     
    Arauco accounts for its lease contracts as finance leases. These lease contracts are for a term of less than five-years at market interest rates and leased assets are forestry machinery and equipment. They also include an early termination option, under general and special conditions stipulated in each contract.
     
    Arauco holds leases as lessee and lessor, described in the previous tables, for which there are no impairment contingent payments or restrictions to report.