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Cash and Cash Equivalents (Tables)
 12 Months Ended
Dec. 31, 2019
Cash And Cash Equivalents [Abstract]  
Summary of Cash and Cash Equivalents

a)

The details of cash and cash equivalents as of December 31, 2019 and 2018 are as follows:

 

 

Balance as of

Cash and Cash Equivalents

 

12-31-2019

ThUS$

 

12-31-2018

ThUS$

Cash balances

 

830

 

4,647

Bank balances

 

593,747

 

784,957

Time deposits

 

1,168,331

 

1,065,378

Other fixed-income instruments

 

176,089

 

49,303

Total

 

1,938,997

 

1,904,285

 

 

 

 

 

 

Summary of Cash and Cash Equivalents by Currency

a)

The detail of cash and cash equivalents by currency is as follows:

 

 

 

 

 

 

 

 

Balance as of

Currency

 

12-31-2019

ThUS$

 

12-31-2018

ThUS$

 

Chilean peso

 

142,878

 

151,714

 

Argentine peso

 

49,846

 

101,209

 

Colombian peso

 

185,423

 

372,361

 

Brazilian real

 

699,418

 

633,635

 

Peruvian soles

 

188,655

 

129,263

 

U.S. dollar

 

672,694

 

513,667

 

Euros

 

83

 

2,436

 

Total

 

1,938,997

 

1,904,285

 

 

Summary of Components of Other Payments for Operating Activities

c)

The following table sets forth the components of “Other payments for operating activities” line item in the Statement of Cash Flows:

 

 

 

 

 

 

 

 

Other Payments from Operating Activities

 

12-31-2019
ThUS$

 

12-31-2018
ThUS$

 

12-31-2017
ThUS$

 

Payment for other taxes (VAT, ICMS, PIS/COFINS, Sales taxes, Custom taxes, taxes on bank transfers) (1)

 

(3,613,564)

 

(2,774,024)

 

(1,921,496)

 

Payments for collections made under Codensa Hogar contract  (2)

 

(578,708)

 

(514,595)

 

(566,795)

 

Payments for the Energy Development Account (CDE) (3)

 

(1,148,756)

 

(926,642)

 

(608,591)

 

Other miscellaneous itemized payments for operating activities (4)

 

(382,405)

 

(1,012,571)

 

(532,677)

 

Total other payments from operating activities

 

(5,723,433)

 

(5,227,832)

 

(3,629,559)

 

 

(1)  The main elements of payments for other taxes are related to:

·

ICMS is a Brazilian state value added tax (VAT) on the circulation of goods, telecommunication and transportation services. The ICMS payments were ThUS$2,672,785, ThUS$2,154,158 and ThUS$1,411,772 for the years ended December 31, 2019, 2018 and 2017, respectively.

·

PIS/COFINS taxes. In Brazil, the “Programa de Integração Social” (PIS) is a social contribution tax, payable by corporations, targeted to finance the payment of unemployment insurance and allowance for low paid workers, while the “Contribuição para o Financiamento da Seguridade Social” (COFINS) is a federal contribution tax, based on gross revenues of business sales. The total amounts paid for PIS/COFINS were ThUS$827,589, ThUS$474,826 and ThUS$347,608 for the years ended December 31, 2019, 2018 and 2017, respectively.

·

Payment for taxes on sales in Peru for ThUS$85,089, ThUS$81,694 and ThUS$70,271 for the years ended December 31, 2019, 2018 and 2017, respectively.

(2)  Our Colombian subsidiary Codensa entered into an arrangement with a third party that develops a business with Codensa’s customers. By virtue of this arrangement, Codensa manages the collection of that third party’s receivables, since they are billed as part of the Codensa’s invoices issued monthly. The payments are related to the monthly collected amounts under the collection management contract, whereas the collections are presented in the line item “Other collections from operating activities”.

(3)  In Brazil, Law No. 10,438/2002 created the “Conta de Desenvolvimento Energético” (“CDE”). The CDE is a government fund that aims to promote the development of alternative energy sources, promote globalization of energy services and subsidizes low-income residential customers. The fund is financed through charges included in consumers and generators tariffs and government contributions.

(4)  Other miscellaneous aggregate payments for operating activities includes several types of individually non-significant payments related to operating activities.

Summary of Changes in Liabilities Arising from Financing Activities

c)

The table below details the changes in the liabilities originating in the Group’s financing activities at December 31, 2019, 2018 and 2017, including those changes representing cash flows and changes that do not represent cash flows. Liabilities originating in financing activities are those for which the cash flows were or will be classified in the cash flow statement as cash flows from financing activities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash flows from financing

 

Changes that do not represent cash flows

 

 

 

 

 

Balance at
1/1/2019(1)

 

From

 

Used (3)

 

Paid interest

 

Total

 

Acquisition of
subsidiaries

 

Changes in fair
value

 

Exchange
differences

 

Financial costs(2)

 

New financial
leases

 

Other changes

 

Balance at
31/12/2019(1)

 

 

 

ThUS$

 

ThUS$

 

ThUS$

 

ThUS$

 

ThUS$

 

ThUS$

 

ThUS$

 

ThUS$

 

ThUS$

 

ThUS$

 

ThUS$

 

ThUS$

 

Liabilities from financing activities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Bank Loans (Note 20.a)

 

1,895,909

 

3,184,903

 

(3,732,252)

 

(120,531)

 

(667,880)

 

 —

 

 —

 

(15,165)

 

134,024

 

 —

 

(17,678)

 

1,329,210

 

Unsecured obligations with public (Note 20.a)

 

4,058,599

 

1,712,911

 

(994,614)

 

(275,473)

 

442,823

 

 —

 

 —

 

(76,972)

 

283,781

 

 —

 

6,804

 

4,715,035

 

Leases (Note 20.a)

 

121,973

 

 —

 

(59,178)

 

(9,076)

 

(68,254)

 

 —

 

 —

 

10,866

 

11,666

 

114,963

 

(947)

 

190,267

 

Other liabilities (Note 20.a)

 

187,878

 

1,009

 

(55,478)

 

(8,667)

 

(63,136)

 

 —

 

 —

 

(7,121)

 

23,097

 

 —

 

(6,977)

 

133,741

 

Hedging derivatives (Note 22)

 

(108,545)

 

95,512

 

(70)

 

(27,465)

 

67,977

 

 —

 

(17,279)

 

(30,952)

 

24,847

 

 —

 

4,361

 

(59,591)

 

Non-hedging derivatives (Note 22)

 

(16,221)

 

28,130

 

 —

 

 —

 

28,130

 

 —

 

11,728

 

1,195

 

(24,409)

 

 —

 

 —

 

423

 

Loans from related companies (Note 12.1 b)

 

2,652,387

 

 —

 

(2,662,433)

 

(173,386)

 

(2,835,819)

 

 —

 

 —

 

55,455

 

127,977

 

 —

 

 —

 

 —

 

Other accounts payable

 

133,114

 

 —

 

(2,638)

 

 —

 

(2,638)

 

 —

 

 —

 

 —

 

1,819

 

 —

 

 —

 

132,295

 

Total

 

8,925,094

 

5,022,465

 

(7,506,663)

 

(614,598)

 

(3,098,797)

 

 —

 

(5,551)

 

(62,694)

 

582,802

 

114,963

 

(14,437)

 

6,441,380

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash flows from financing

 

Changes that do not represent cash flows

 

 

 

 

 

Balance at
1/1/2018(1)

 

From

 

Used (3)

 

Paid interest

 

Total

 

Acquisition of
subsidiaries

 

Changes in fair
value

 

Exchange
differences

 

Financial costs(2)

 

New financial
leases

 

Other changes

 

Balance at
31/12/2018(1)

 

 

 

ThUS$

 

ThUS$

 

ThUS$

 

ThUS$

 

ThUS$

 

ThUS$

 

ThUS$

 

ThUS$

 

ThUS$

 

ThUS$

 

ThUS$

 

ThUS$

 

Liabilities from financing activities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Bank Loans (Note 20.a)

 

1,501,723

 

933,146

 

(744,730)

 

(99,667)

 

88,749

 

248,027

 

 —

 

(129,975)

 

165,292

 

 —

 

22,093

 

1,895,909

 

Unsecured obligations with public (Note 20.a)

 

3,178l,008

 

3,605,019

 

(3,475,288)

 

(289,093)

 

(159,362)

 

1,123,222

 

 —

 

(337,715)

 

315,051

 

 —

 

(60,605)

 

4,058,599

 

Leases (Note 20.a)

 

104,492

 

 —

 

(31,619)

 

(7,037)

 

(38,656)

 

22,677

 

 —

 

(2,992)

 

8,170

 

28,143

 

139

 

121,973

 

Other liabilities (Note 20.a)

 

219,735

 

 —

 

(81,340)

 

(15,709)

 

(97,049)

 

 —

 

 —

 

(23,776)

 

28,152

 

 —

 

60,816

 

187,878

 

Hedging derivatives (Note 22)

 

3,284

 

5,474

 

 —

 

(28,046)

 

(22,572)

 

 —

 

15,601

 

(133,070)

 

27,064

 

 —

 

1,148

 

(108,545)

 

Non-hedging derivatives (Note 22)

 

3,162

 

15,926

 

 —

 

 —

 

15,926

 

 —

 

(14,065)

 

1,920

 

(22,958)

 

 —

 

(206)

 

(16,221)

 

Loans from related companies (Note 12.1 b)

 

 —

 

2,686,387

 

 —

 

 —

 

2,686,387

 

 —

 

 —

 

(86,820)

 

52,820

 

 —

 

 —

 

2,652,387

 

Other accounts payable

 

112,086

 

 —

 

 —

 

 —

 

 —

 

 —

 

 —

 

 —

 

21,028

 

 —

 

 —

 

133,114

 

Total

 

5,122,490

 

7,245,952

 

(4,332,977)

 

(439,552)

 

2,473,423

 

1,393,926

 

1,536

 

(712,428)

 

594,619

 

28,143

 

23,385

 

8,925,094

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash flows from financing

 

Changes that do not represent cash flows

 

 

 

 

Balance at
01/01/2017 (1)

 

From

 

Used
(3)

 

Paid interest

 

Total

 

Acquisition of subsidiaries

 

Changes in fair value

 

Exchange differences

 

Financial costs (2)

 

New 
leases

 

Other changes

 

Balance at
12-31-2017

 

 

ThUS$

 

ThUS$

 

ThUS$

 

ThUS$

 

ThUS$

 

ThUS$

 

ThUS$

 

ThUS$

 

ThUS$

 

ThUS$

 

ThUS$

 

ThUS$

Liabilities from financing activities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Bank Loans (Note 20.a)

 

964,845

 

783,342

 

(305,915)

 

(74,135)

 

403,292

 

55,421

 

(775)

 

(11,659)

 

94,163

 

 —

 

(3,564)

 

1,501,723

Unsecured obligations with public (Note 20.a)

 

3,154,734

 

580,365

 

(573,994)

 

(237,702)

 

(231,331)

 

 —

 

 —

 

11,920

 

230,212

 

 —

 

12,473

 

3,178,008

Leases (Note 20.a)

 

125,190

 

 —

 

(46,975)

 

(5,984)

 

(52,959)

 

 —

 

 —

 

(175)

 

5,882

 

17,605

 

8,949

 

104,492

Other liabilities (Note 20.a)

 

63,001

 

125,345

 

(221,232)

 

(25,941)

 

(121,828)

 

271,607

 

(8,667)

 

(13,346)

 

28,874

 

 —

 

94

 

219,735

Hedging derivatives (Note 22)

 

21,069

 

230

 

(15,958)

 

 —

 

(15,728)

 

 —

 

(10,688)

 

(3,371)

 

8,874

 

 —

 

3,128

 

3,284

Non-hedging derivatives (Note 22)

 

 —

 

174

 

(12,878)

 

 —

 

(12,704)

 

 —

 

13,235

 

105

 

2,526

 

 —

 

 —

 

3,162

Loans from related companies (Note 12.1 b)

 

 —

 

257,453

 

(257,956)

 

(229)

 

(732)

 

 —

 

 —

 

503

 

229

 

 —

 

 —

 

 —

Other accounts payable

 

118,969

 

13,995

 

(26,751)

 

 —

 

(12,756)

 

 —

 

 —

 

(21,925)

 

27,798

 

 —

 

 —

 

112,086

Total

 

4,447,808

 

1,760,904

 

(1,461,659)

 

(343,991)

 

(44,746)

 

327,028

 

(6,895)

 

(37,948)

 

398,558

 

17,605

 

21,080

 

5,122,490

 

(1)

Corresponding to current and non-current portions.

(2)

This is accrual of interest.

The amount of the Repayment of loans for the years ended 2019, 2018 and 2017 for ThUS$4,782,344,  ThUS$4,301,358 and ThUS$1,127,892, respectively, to Financing Cash Flows Used in bank Loans, unsecured public bonds, finance leases and other Accounts payable of this reconciliation.