CHEMICAL & MINING CO OF CHILE INC | CIK:0000909037 | 3

  • Filed: 4/19/2018
  • Entity registrant name: CHEMICAL & MINING CO OF CHILE INC (CIK: 0000909037)
  • Generator: DataTracks
  • SEC filing page: http://www.sec.gov/Archives/edgar/data/909037/000114420418021258/0001144204-18-021258-index.htm
  • XBRL Instance: http://www.sec.gov/Archives/edgar/data/909037/000114420418021258/sqm-20171231.xml
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    • ifrs-full:DescriptionOfAccountingPolicyForBorrowingsExplanatory

    3.32
    Interest-bearing borrowings
     
    At initial recognition, interest-bearing borrowings are measured at fair value net of transaction costs incurred. Subsequently, they are measured at amortized cost using the effective interest rate method. Amortized cost is calculated considering any premium or discount from the acquisition and includes costs of transactions which are an integral part of the effective interest rate.
     
    These are recorded as non-current when their expiration period exceeds twelve months and as current when the term is lower than such term. Interest expense is calculated in the year in which it is accrued following a financial criterion.