NOTE 35 - STATEMENT OF CASH FLOWS
(a) The Company has done significant non-cash transactions mainly with financial leases, which are detailed in Note 17 letter (d), additional information in numeral (iv) Financial leases.
(b) Other inflows (outflows) of cash:
| For the periods ended | ||||||||||||
| December 31, | ||||||||||||
| 2017 | 2016 | 2015 | ||||||||||
| ThUS$ | ThUS$ | ThUS$ | ||||||||||
| Guarantees | 59,988 | (51,559 | ) | (2,125 | ) | |||||||
| Fuel hedge | 19,862 | (50,029 | ) | (243,587 | ) | |||||||
| DOJ fine | - | (12,750 | ) | - | ||||||||
| SEC agreement | - | (4,719 | ) | - | ||||||||
| Fuel derivatives premiums | (2,832 | ) | (6,840 | ) | (20,932 | ) | ||||||
| Hedging margin guarantees | (4,201 | ) | 1,184 | 87,842 | ||||||||
| Tax paid on bank transaction | (6,635 | ) | (10,668 | ) | (7,176 | ) | ||||||
| Bank commissions, taxes paid and other | (7,738 | ) | (769 | ) | (5,137 | ) | ||||||
| Change reservation systems | (16,120 | ) | - | 11,000 | ||||||||
| Currency hedge | (17,798 | ) | (39,534 | ) | 1,802 | |||||||
| Court deposits | (33,457 | ) | (33,635 | ) | (6,314 | ) | ||||||
| Others | - | 50 | - | |||||||||
| Total Other inflows (outflows) Operation flow | (8,931 | ) | (209,269 | ) | (184,627 | ) | ||||||
| Others deposits in guarantees | 3,754 | - | - | |||||||||
| Recovery loans convertible into shares | - | 8,896 | 20,000 | |||||||||
| Certificate of bank deposits | - | - | 3,497 | |||||||||
| Tax paid on bank transaction | (2,594 | ) | (3,716 | ) | (12,921 | ) | ||||||
| Others | (10,383 | ) | (4,337 | ) | - | |||||||
| Total Other inflows (outflows) Investment flow | (9,223 | ) | 843 | 10,576 | ||||||||
| Loan guarantee | 80,615 | (74,186 | ) | - | ||||||||
| Credit card loan manager | - | - | 3,227 | |||||||||
| Early redemption of bonds TAM 2020 | - | - | (15,328 | ) | ||||||||
| Guarantees bonds emission | - | - | (26,111 | ) | ||||||||
| Aircraft Financing advances | (26,214 | ) | (125,149 | ) | (28,144 | ) | ||||||
| Settlement of derivative contracts | (40,695 | ) | (29,828 | ) | (35,891 | ) | ||||||
| Others | - | - | 2,490 | |||||||||
| Total Other inflows (outflows) Financing flow | 13,706 | (229,163 | ) | (99,757 | ) | |||||||
| (c) | Dividends: |
| For the periods ended | ||||||||||||
| December 31, | ||||||||||||
| 2017 | 2016 | 2015 | ||||||||||
| ThUS$ | ThUS$ | ThUS$ | ||||||||||
| Latam Airlines Group S.A. | (20,766 | ) | - | - | ||||||||
| Multiplus S.A. (*) | (45,876 | ) | (40,823 | ) | (34,632 | ) | ||||||
| Lan Perú S.A. (*) | - | (400 | ) | (400 | ) | |||||||
| Total dividends paid | (66,642 | ) | (41,223 | ) | (35,032 | ) | ||||||
(*) Dividends paid to minority shareholders
| d) | Reconciliation of liabilities arising from financing activities: |
| As of | Cash flows | Non-Flow Movements | As of | |||||||||||||||||||||||||
| Obligations with | December 31, | Obtainment | Payment | Interest accrued | December 31, | |||||||||||||||||||||||
| financial institutions | 2016 | Capital | Capital | Interest | and others | Reclassifications | 2017 | |||||||||||||||||||||
| ThUS$ | ThUS$ | ThUS$ | ThUS$ | ThUS$ | ThUS$ | ThUS$ | ||||||||||||||||||||||
| Loans to exporters | 278,164 | 130,000 | (99,719 | ) | (7,563 | ) | 13,737 | - | 314,619 | |||||||||||||||||||
| Bank loans | 585,287 | 70,357 | (345,552 | ) | (21,127 | ) | 32,668 | - | 321,633 | |||||||||||||||||||
| Guaranteed obligations | 4,758,552 | 182,140 | (486,599 | ) | (154,072 | ) | 155,907 | (419,085 | ) | 4,036,843 | ||||||||||||||||||
| Other guaranteed obligations | 256,420 | - | (15,022 | ) | (8,890 | ) | 9,667 | - | 242,175 | |||||||||||||||||||
| Obligation with the public | 1,309,345 | 1,055,167 | (797,828 | ) | (128,764 | ) | 146,146 | - | 1,584,066 | |||||||||||||||||||
| Financial leases | 1,022,361 | - | (344,005 | ) | (46,874 | ) | 58,937 | 419,085 | 1,109,504 | |||||||||||||||||||
| Other loans | 394,791 | 13,107 | (124,688 | ) | (22,434 | ) | 22,024 | - | 282,800 | |||||||||||||||||||
| Total Obligations with financial institutions | 8,604,920 | 1,450,771 | (2,213,413 | ) | (389,724 | ) | 439,086 | - | 7,891,640 | |||||||||||||||||||
(e) Advances of aircraft
Below are the cash flows associated with aircraft purchases, which are included in the statement of consolidated cash flow, in the item Purchases of properties, plants and equipment:
| For the periods ended | ||||||||
| December 31, | ||||||||
| 2017 | 2016 | |||||||
| MUS$ | MUS$ | |||||||
| Increases (payments) | (205,143 | ) | (170,684 | ) | ||||
| Recoveries | 78,641 | 727,585 | ||||||
| Total cash flows | (126,502 | ) | 556,901 | |||||