XML 79 R69.htm IDEA: XBRL DOCUMENT v3.8.0.1
Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2017
Disclosure Of Financial Instruments [Abstract]  
Summary of Financial Assets Classified by Type and Category

 

a)

The detail of financial assets, classified by type and category, as of December 31, 2017 and 2016, is as follows:

 

 

 

 

 

 

 

December 31, 2017

 

 

 

Financial assets held for trading (*)

 

 

Held-to-maturity investments (*)

 

 

Loans and receivables

 

 

Available-for-sale financial assets

 

 

Financial derivatives for hedging

 

 

 

ThCh$

 

 

ThCh$

 

 

ThCh$

 

 

ThCh$

 

 

ThCh$

 

Derivative instruments

 

 

402,716

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

20,038,433

 

Other financial assets

 

 

—

 

 

 

185,913

 

 

 

478,880,650

 

 

 

—

 

 

 

—

 

Total Current

 

 

402,716

 

 

 

185,913

 

 

 

478,880,650

 

 

 

—

 

 

 

20,038,433

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Equity instruments

 

 

—

 

 

 

—

 

 

 

—

 

 

 

2,628,501

 

 

 

—

 

Derivative instruments

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

30,789,703

 

Other financial assets

 

 

—

 

 

 

—

 

 

 

36,182,399

 

 

 

—

 

 

 

—

 

Total Non-current

 

 

—

 

 

 

—

 

 

 

36,182,399

 

 

 

2,628,501

 

 

 

30,789,703

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

 

402,716

 

 

 

185,913

 

 

 

515,063,049

 

 

 

2,628,501

 

 

 

50,828,136

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2016

 

 

 

Financial assets held for trading (*)

 

 

Held-to-maturity investments (*)

 

 

Loans and receivables

 

 

Available-for-sale financial assets

 

 

Financial derivatives for hedging

 

 

 

ThCh$

 

 

ThCh$

 

 

ThCh$

 

 

ThCh$

 

 

ThCh$

 

Derivative instruments

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

121,443

 

Other financial assets

 

 

—

 

 

 

462,801

 

 

 

464,235,411

 

 

 

—

 

 

 

—

 

Total Current

 

 

—

 

 

 

462,801

 

 

 

464,235,411

 

 

 

—

 

 

 

121,443

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Equity instruments

 

 

—

 

 

 

—

 

 

 

—

 

 

 

2,641,620

 

 

 

—

 

Derivative instruments

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

25,533,189

 

Other financial assets

 

 

—

 

 

 

652,733

 

 

 

33,500,105

 

 

 

—

 

 

 

—

 

Total Non-current

 

 

—

 

 

 

652,733

 

 

 

33,500,105

 

 

 

2,641,620

 

 

 

25,533,189

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

 

—

 

 

 

1,115,534

 

 

 

497,735,516

 

 

 

2,641,620

 

 

 

25,654,632

 

 

(*) See note 7.

Summary of Financial Liabilities Classified by Type and Category

 

b)

The detail of financial liabilities, classified by type and category, as of December 31, 2017 and 2016, is as follows:

 

 

 

December 31, 2017

 

 

 

Financial liabilities held for trading

 

 

Loans and payables

 

 

Financial derivatives for hedging

 

 

 

ThCh$

 

 

ThCh$

 

 

ThCh$

 

Interest-bearing loans

 

 

—

 

 

 

17,255,692

 

 

 

—

 

Derivative instruments

 

 

1,255,478

 

 

 

—

 

 

 

304,278

 

Other financial liabilities

 

 

—

 

 

 

670,642,077

 

 

 

—

 

Total Current

 

 

1,255,478

 

 

 

687,897,769

 

 

 

304,278

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest-bearing loans

 

 

—

 

 

 

760,932,929

 

 

 

—

 

Derivative instruments

 

 

—

 

 

 

—

 

 

 

21,045,216

 

Other financial liabilities

 

 

—

 

 

 

978,342

 

 

 

—

 

Total Non-current

 

 

—

 

 

 

761,911,271

 

 

 

21,045,216

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

 

1,255,478

 

 

 

1,449,809,040

 

 

 

21,349,494

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2016

 

 

 

Financial liabilities held for trading

 

 

Loans and payables

 

 

Financial derivatives for hedging

 

 

 

ThCh$

 

 

ThCh$

 

 

ThCh$

 

Interest-bearing loans

 

 

—

 

 

 

18,013,114

 

 

 

—

 

Derivative instruments

 

 

7,369,481

 

 

 

—

 

 

 

313,571

 

Other financial liabilities

 

 

—

 

 

 

617,955,794

 

 

 

—

 

Total Current

 

 

7,369,481

 

 

 

635,968,908

 

 

 

313,571

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest-bearing loans

 

 

—

 

 

 

802,046,968

 

 

 

—

 

Derivative instruments

 

 

2,987,830

 

 

 

—

 

 

 

48,981,953

 

Other financial liabilities

 

 

—

 

 

 

1,734,640

 

 

 

—

 

Total Non-current

 

 

2,987,830

 

 

 

803,781,608

 

 

 

48,981,953

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

 

10,357,311

 

 

 

1,439,750,516

 

 

 

49,295,524

 

 

Summary of Financial Derivative Transactions Qualifying as Hedge Instruments Resulted in Recognition of Assets and Liabilities

As of December 31, 2017 and 2016, financial derivative transactions qualifying as hedge instruments resulted in recognition of the following assets and liabilities in the consolidated statement of financial position:

 

 

 

December 31, 2017

 

 

 

Assets

 

 

Liabilities

 

 

 

Current

 

 

Non-current

 

 

Current

 

 

Non-current

 

 

 

ThCh$

 

 

ThCh$

 

 

ThCh$

 

 

ThCh$

 

Exchange rate hedge:

 

 

20,038,433

 

 

 

30,789,703

 

 

 

304,278

 

 

 

21,045,216

 

Cash flow hedge

 

 

20,038,433

 

 

 

30,789,703

 

 

 

304,278

 

 

 

21,045,216

 

Total

 

 

20,038,433

 

 

 

30,789,703

 

 

 

304,278

 

 

 

21,045,216

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2016

 

 

 

Assets

 

 

Liabilities

 

 

 

Current

 

 

Non-current

 

 

Current

 

 

Non-current

 

 

 

ThCh$

 

 

ThCh$

 

 

ThCh$

 

 

ThCh$

 

Exchange rate hedge:

 

 

121,443

 

 

 

25,533,189

 

 

 

313,571

 

 

 

48,981,953

 

Cash flow hedge

 

 

121,443

 

 

 

25,533,189

 

 

 

313,571

 

 

 

48,981,953

 

Total

 

 

121,443

 

 

 

25,533,189

 

 

 

313,571

 

 

 

48,981,953

 

 

Summary of Hedge Derivative Instruments and Their Corresponding Hedged Instruments

Hedge derivative instruments and their corresponding hedged instruments are shown in the following table:

 

Detail of hedging

 

 

Description of hedging instrument

 

 

Description of hedged item

 

 

Fair value of hedged item

 

 

Fair value of hedged item

 

 

Type of risk hedged

 

instrument

 

 

 

12-31-2017

 

 

12-31-2016

 

 

 

 

 

ThCh$

 

 

ThCh$

 

 

SWAP

 

Exchange rate

 

Unsecured obligations (bonds) (*)

 

 

7,696,061

 

 

 

(23,640,892

)

 

Cash Flow

FORWARD

 

Exchange rate

 

Revenues

 

 

21,782,581

 

 

 

—

 

 

Cash Flow

 

(*) See note 18.2.

Summary of Financial Derivative Transactions Recorded at Fair Value Through Profit or Loss Resulted in the Recognition of Assets and Liabilities

As of December 31, 2017 and 2016, financial derivative transactions recorded at fair value through profit or loss, resulted in the recognition of the following assets and liabilities in the statement of financial position:

 

 

 

December 31, 2017

 

 

December 31, 2016

 

 

 

 

Current Assets

 

 

Current Liabilities (*)

 

 

Non-Current Assets

 

 

Non-Current Liabilities (*)

 

 

Current Assets

 

 

Current Liabilities  (*)

 

 

Non-Current Assets

 

 

Non-Current Liabilities  (*)

 

 

ThCh$

 

 

ThCh$

 

 

ThCh$

 

 

ThCh$

 

 

ThCh$

 

 

ThCh$

 

 

ThCh$

 

 

ThCh$

 

Non-hedging derivative

   instrument

 

 

402,716

 

 

 

1,255,478

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

7,369,481

 

 

 

—

 

 

 

2,987,830

 

 

(*) See note 18.

Summary of Fair Value of Hedging and Non-hedging Derivatives Entered Into by the Group as Well as the Remaining Contractual Maturities

The following tables present the fair value of hedging and non-hedging derivatives entered into by the Group as well as the remaining contractual maturities as of December 31, 2017 and 2016:

 

 

 

December 31, 2017

 

 

 

 

 

 

 

Notional Amount

 

 

 

Fair value

 

 

Less than 1 year

 

 

1-2 years

 

 

2-3 years

 

 

3-4 years

 

 

4-5 years

 

 

Total

 

Financial derivatives

 

ThCh$

 

 

ThCh$

 

 

ThCh$

 

 

ThCh$

 

 

ThCh$

 

 

ThCh$

 

 

ThCh$

 

Interest rate hedge:

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Cash flow hedge

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Exchange rate hedge:

 

 

29,478,642

 

 

 

306,350,419

 

 

 

525,812,635

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

832,163,054

 

Cash flow hedge

 

 

29,478,642

 

 

 

306,350,419

 

 

 

525,812,635

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

832,163,054

 

Derivatives not designated for hedge

   accounting

 

 

(852,762

)

 

 

19,682,638

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

19,682,638

 

Total

 

 

28,625,880

 

 

 

326,033,057

 

 

 

525,812,635

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

851,845,692

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2016

 

 

 

 

 

 

 

Notional Amount

 

 

 

Fair value

 

 

Less than 1 year

 

 

1-2 years

 

 

2-3 years

 

 

3-4 years

 

 

4-5 years

 

 

Total

 

Financial derivatives

 

ThCh$

 

 

ThCh$

 

 

ThCh$

 

 

ThCh$

 

 

ThCh$

 

 

ThCh$

 

 

ThCh$

 

Interest rate hedge:

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Cash flow hedge

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Exchange rate hedge:

 

 

(23,640,892

)

 

 

—

 

 

 

—

 

 

 

523,686,966

 

 

 

—

 

 

 

—

 

 

 

523,686,966

 

Cash flow hedge

 

 

(23,640,892

)

 

 

—

 

 

 

—

 

 

 

523,686,966

 

 

 

—

 

 

 

—

 

 

 

523,686,966

 

Derivatives not designated for hedge

   accounting

 

 

(10,357,311

)

 

 

49,738,751

 

 

 

21,434,625

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

71,173,376

 

Total

 

 

(33,998,203

)

 

 

49,738,751

 

 

 

21,434,625

 

 

 

523,686,966

 

 

 

—

 

 

 

—

 

 

 

594,860,342

 

 

Schedule of Financial Assets and Liabilities Measured at Fair Value

The following table presents financial assets and liabilities measured at fair value as of December 31, 2017 and 2016:

 

 

 

 

 

 

 

Fair Value Measured at End of Reporting Period Using:

 

 

 

12-31-2017

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Financial Instruments Measured at Fair Value

 

ThCh$

 

 

ThCh$

 

 

ThCh$

 

 

ThCh$

 

Financial Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial derivatives designated as cash flow hedges

 

 

50,828,136

 

 

 

—

 

 

 

50,828,136

 

 

 

—

 

Financial derivatives not designated for hedge accounting

 

 

402,716

 

 

 

—

 

 

 

402,716

 

 

 

—

 

Commodity derivatives  not designated as cash flow hedges

 

 

9,940,955

 

 

 

—

 

 

 

9,940,955

 

 

 

—

 

Commodity derivatives designated as cash flow hedges

 

 

5,742,633

 

 

 

—

 

 

 

5,742,633

 

 

 

 

 

Available-for-sale financial assets, non-current

 

 

33,158

 

 

 

33,158

 

 

 

—

 

 

 

—

 

Total

 

 

66,947,598

 

 

 

33,158

 

 

 

66,914,440

 

 

 

—

 

Financial Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial derivatives designated as cash flow hedges

 

 

21,349,494

 

 

 

—

 

 

 

21,349,494

 

 

 

—

 

Financial derivatives not designated for hedge accounting

 

 

1,255,478

 

 

 

—

 

 

 

1,255,478

 

 

 

—

 

Commodity derivatives not designated for hedge accounting

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Commodity derivatives designated as cash flow hedges

 

 

889,026

 

 

 

—

 

 

 

889,026

 

 

 

—

 

Total

 

 

23,493,998

 

 

 

—

 

 

 

23,493,998

 

 

 

—

 

 

 

 

 

 

 

Fair Value Measured at End of Reporting Period Using:

 

 

 

12-31-2016

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Financial Instruments Measured at Fair Value

 

ThCh$

 

 

ThCh$

 

 

ThCh$

 

 

ThCh$

 

Financial Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial derivatives designated as cash flow hedges

 

 

25,654,632

 

 

 

—

 

 

 

25,654,632

 

 

 

—

 

Commodity derivatives not designated for hedge accounting

 

 

875,841

 

 

 

—

 

 

 

875,841

 

 

 

—

 

Commodity derivatives designated as cash flow hedges

 

 

16,159,565

 

 

 

—

 

 

 

16,159,565

 

 

 

—

 

Available-for-sale financial assets, non-current

 

 

25,381

 

 

 

25,381

 

 

 

—

 

 

 

—

 

Total

 

 

42,715,419

 

 

 

25,381

 

 

 

42,690,038

 

 

 

—

 

Financial Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial derivatives designated as cash flow hedges

 

 

49,295,524

 

 

 

—

 

 

 

49,295,524

 

 

 

—

 

Financial derivatives not designated for hedge accounting

 

 

10,357,311

 

 

 

—

 

 

 

10,357,311

 

 

 

—

 

Commodity derivatives not designated for hedge accounting

 

 

40,013

 

 

 

—

 

 

 

40,013

 

 

 

—

 

Commodity derivatives designated as cash flow hedges

 

 

1,063,193

 

 

 

—

 

 

 

1,063,193

 

 

 

—

 

Total

 

 

60,756,041

 

 

 

—

 

 

 

60,756,041

 

 

 

—