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:DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory

    Note 22 Effect of fluctuations in foreign currency exchange rates
     
    a)
    Foreign currency exchange differences recognized in profit or loss except for financial instruments measured at fair value through profit or loss:
     
     
     
    12/31/2017
    ThUS$
     
    12/31/2016
    ThUS$
     
    12/31/2015
    ThUS$
     
     
     
     
     
     
     
     
     
     
     
     
    Conversion foreign exchange gains (losses) recognized in the result of the year.
     
     
    (1,299)
     
     
    460
     
     
    (12,364)
     
     
     
     
     
     
     
     
     
     
     
     
    Conversion foreign exchange reserves attributable to the owners of the controlling entity
     
     
    (5,450)
     
     
    (5,428)
     
     
    (6,334)
     
     
     
     
     
     
     
     
     
     
     
     
    Conversion foreign exchange reserves attributable to the non-controlling entity
     
     
    4
     
     
    35
     
     
    (165)
     
     
    b)       Reserves for foreign currency exchange differences:
     
    As of December 31, 2017, , 2016 and 2015, foreign currency exchange differences are detailed as follows:
     
    Detail
     
    12/31/2017
    ThUS$
     
    12/31/2016
    ThUS$
     
    12/31/2015
    ThUS$
     
    Changes in equity generated by conversion of equity value:
     
     
     
     
     
     
     
     
     
     
    Comercial Hydro S.A.
     
     
    1,004
     
     
    1,004
     
     
    1,004
     
    SQMC Internacional Ltda.
     
     
    (2)
     
     
    (13)
     
     
    (20)
     
    Proinsa Ltda.
     
     
    (7)
     
     
    (10)
     
     
    (15)
     
    Comercial Agrorama Ltda.
     
     
    (44)
     
     
    (69)
     
     
    (100)
     
    Isapre Norte Grande Ltda.
     
     
    (74)
     
     
    (124)
     
     
    (155)
     
    Almacenes y Depósitos Ltda.
     
     
    97
     
     
    47
     
     
    (31)
     
    Sales de Magnesio Ltda.
     
     
    -
     
     
    (29)
     
     
    (161)
     
    Sociedad Prestadora de Servicios de Salud Cruz del Norte S.A.
     
     
    -
     
     
    (6)
     
     
    (9)
     
    Agrorama S.A.
     
     
    (98)
     
     
    (49)
     
     
    (35)
     
    Doktor Tarsa
     
     
    (14,447)
     
     
    (12,264)
     
     
    (8,305)
     
    SQM Vitas Fzco
     
     
    (1,779)
     
     
    (1,801)
     
     
    (2,245)
     
    Ajay Europe
     
     
    (831)
     
     
    (1,935)
     
     
    (1,731)
     
    SQM Eastmed Turkey
     
     
    (92)
     
     
    (95)
     
     
    (81)
     
    Charlee SQM (Thailand) Co. Ltd.
     
     
    (285)
     
     
    (460)
     
     
    (476)
     
    Coromandel SQM India
     
     
    (234)
     
     
    (282)
     
     
    (301)
     
    SQM Italia SRL
     
     
    (154)
     
     
    (287)
     
     
    (250)
     
    SQM Oceania Pty Ltd.
     
     
    (634)
     
     
    (634)
     
     
    (634)
     
    SQM Indonesia S.A.
     
     
    (124)
     
     
    (124)
     
     
    (123)
     
    Abu Dhabi Fertilizers Industries WWL.
     
     
    (435)
     
     
    (434)
     
     
    21
     
    SQM Vitas Holland
     
     
    (101)
     
     
    (280)
     
     
    (320)
     
    SQM Thailand Limited
     
     
    (68)
     
     
    (68)
     
     
    (68)
     
    SQM Europe N.V.
     
     
    (1,550)
     
     
    (1,550)
     
     
    -
     
    Minera Exar S.A.
     
     
    (5,209)
     
     
    -
     
     
    -
     
    SQM Australia Pty Ltd.
     
     
    154
     
     
    -
     
     
    -
     
    Total
     
     
    (24,913)
     
     
    (19,463)
     
     
    14,035
     
     
    c)       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 U.S. dollar.
     
    d)
    Reasons to use one presentation currency and a different functional currency
     
    -
    The total revenues of these subsidiaries are associated with the local currency.
    -
    The commercialization cost structure of these companies is affected by the local currency.
    -
    The equities of these companies are expressed in local currency (Chilean peso).