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Cash and Cash Equivalents

12 Months Ended

Dec. 31, 2025

6. CASH AND CASH EQUIVALENTS

The detail of cash and cash equivalents as of December 31, 2025, December 31, 2024, and January 1, 2024 is as follows:


		As of December 31,			As of January 01,
		2025		2024	2024
		ThUS$		ThUS$	ThUS$
Cash balances		213		28	197
Bank balances		381,655		223,580	156,248
Time deposits		80,056		38	364,825
Other fixed-income instruments		—		161,115	120,936
Total		461,924		384,761	642,206

Time deposits have a maturity of three months or less from their date of acquisition and accrue the market interest for this type of short-term investment. Other fixed-income investments are mainly comprised of resale agreements maturing in 90 days or less from the date of investment. There are no restrictions on cash and cash equivalents.

The detail, by type of currency, of the above balance is as follows:


		As of December 31,		As of January 01,
Other payments from operating activities		2025	2024	2024
Currency		ThUS$	ThUS$	ThUS$
Chilean peso		103,917	247,383	512,221
U.S. dollar		357,864	137,191	129,815
Argentine peso		16	—	12
Euro		83	149	117
UF		44	38	41
Total		461,924	384,761	642,206

For further detail of the Statement of Cash Flows see below:

The following table presents the cash flows used in “Other payments for operating activities” included in the Statement of Cash Flows for the years ended December 31, 2025, 2024 and 2023:


	2025	2024	2023
Other payments from operating activities	ThUS$	ThUS$	ThUS$
VAT tax debit	(99,438)	(77,993)	(98,620)
Insurance premiums	(42,418)	(33,559)	(30,813)
Tax on emissions	(11,362)	(15,578)	(24,655)
Other	(14,292)	(13,338)	(11,659)
Total	(167,510)	(140,468)	(165,747)

The following table provides the details of cash flows arising from the loss of control of subsidiaries or other businesses disclosed in the Statement of Cash Flows as of December 31, 2025, 2024 and 2023.


	2025	2024	2023
	ThUS$	ThUS$	ThUS$
Cash received from the sale of Arcadia Generación Solar S.A.	—	—	621,355
Cash and cash equivalents outflow related to Arcadia Generación Solar S.A. exiting the Group	—	—	(2,138)
Total	—	—	619,217

Other proceeds from the sale of interests in joint ventures

As of December 31, 2023, the cash amount represents the proceeds from the sale of its 50% interest in the joint venture Sociedad de Inversiones K Cuatro SpA, completed in December 2022 by the Company’s subsidiary Enel X Chile. On June 30, 2023, Enel X Chile received a payment of ThUS$17,647, representing 50% of the total sale consideration. The remaining 50%, amounting to ThUS$17,669, was received on December 22, 2023.

Reconciliation of liabilities arising from financing activities for the years ended December 31, 2025, 2024 and 2023:


		Short-term loans	Long-term loans	Lease liabilities	Assets held to cover liabilities arising from financing activities	Total
		ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
	Opening balance as of January 1, 2025	236,199	3,401,910	295,652	(8,614)	3,925,147
Cash flows from (used in) financing activities	From	—	190,000	—	73,160	263,160
	Used	(281,733)	(190,000)	(36,535)	—	(508,268)
	Interest paid	(174,159)	—	(177)	—	(174,336)
	Total cash flows from financing activities	(455,892)	—	(36,712)	73,160	(419,444)
Movements that do not represent cash flows	Movements in fair value	62,092	5,826	—	14,231	82,149
	Foreign currency translation differences	3,517	(1,706)	46,594	(24,676)	23,729
	Financial costs (1)	173,238	5,669	24,871	(347)	203,431
	New leases	—	—	88,035	—	88,035
	Other Movements	469,764	(379,840)	(8,243)	(72,738)	8,943
	Closing balance as of December 31, 2025	488,918	3,031,859	410,197	(18,984)	3,911,990

	Detail by category
	Payables due to related parties (see Note 10.1. b)	167,101	861,531	—	—	1,028,632
	Interest-bearing loans (See Note 20.1)	259,461	2,161,366	—	—	2,420,827
	Cash flow hedges (See Note 23.2.a)	62,356	8,962	—	(18,984)	52,334
	Lease liabilities (See Note 21)	—	—	410,197	—	410,197
	Closing balance as of December 31, 2025	488,918	3,031,859	410,197	(18,984)	3,911,990

		Short-term loans	Long-term loans	Lease liabilities	Assets held to hedge liabilities arising from financing activities	Total
		ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
	Opening balance as of January 1, 2024	827,492	3,348,867	305,617	(62,960)	4,419,016
Cash flows from (used in) financing activities	From	—	1,632,383	—	65,282	1,697,665
	Used	(1,052,502)	(1,137,625)	(18,956)	—	(2,209,083)
	Interest paid	(214,929)	—	(2,794)	—	(217,723)
	Total cash flows from financing activities	(1,267,431)	494,758	(21,750)	65,282	(729,141)
Movements that do not represent cash flows	Movements in fair value	6,590	(5,036)	(25)	138	1,667
	Foreign currency translation differences	3,756	2,674	(23,809)	(8,277)	(25,656)
	Financial costs (1)	213,830	7,746	11,990	(2,797)	230,769
	New leases	—	—	43,905	—	43,905
	Other Movements	451,962	(447,099)	(20,276)	—	(15,413)
	Closing balance as of December 31, 2024	236,199	3,401,910	295,652	(8,614)	3,925,147

	Detail by category
	Payables due to related parties (see Note 10.1. b)	167,097	1,019,514	—	—	1,186,611
	Interest-bearing loans (See Note 20.1)	61,447	2,377,162	—	—	2,438,609
	Cash flow hedges (See Note 23.2.a)	7,655	5,234	—	(8,614)	4,275
	Lease liabilities (See Note 21)	—	—	295,652	—	295,652
	Closing balance as of December 31, 2024	236,199	3,401,910	295,652	(8,614)	3,925,147

		Short-term loans	Long-term loans	Lease liabilities	Assets held to hedge liabilities arising from financing activities	Total
		ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
	Opening balance as of January 1, 2023	566,603	3,891,875	275,379	(66,355)	4,667,502
Cash flows from (used in) financing activities	From	400,014	810,443	—	13,082	1,223,539
	Used	(1,010,370)	(595,413)	(21,929)	—	(1,627,712)
	Interest paid	(218,901)	—	(11,091)	—	(229,992)
	Total cash flows from financing activities	(829,257)	215,030	(33,020)	13,082	(634,165)
Movements that do not represent cash flows	Sales of subsidiaries	—	—	—	—	—
	Movements in fair value	46,378	(44,273)	—	(12,762)	(10,657)
	Foreign currency translation differences	11,028	97,377	4,221	5,493	118,119
	Financial costs (1)	217,065	5,631	11,535	(2,418)	231,813
	New leases	—	—	56,201	—	56,201
	Other Movements	815,675	(816,773)	(8,699)	—	(9,797)
	Closing balance as of December 31, 2023	827,492	3,348,867	305,617	(62,960)	4,419,016

	Detail by category
	Payables due to related parties (See Note 10.1. b)	167,112	1,179,760	—	—	1,346,872
	Interest-bearing loans (See Note 20.1)	618,183	2,163,402	—	—	2,781,585
	Cash flow hedges (See Note 23.2.a)	42,197	5,705	—	(62,960)	(15,058)
	Lease liabilities (See Note 21)	—	—	305,617	—	305,617
	Closing balance as of December 31, 2023	827,492	3,348,867	305,617	(62,960)	4,419,016

(1) Relates to accrual of interest.