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Provisions
12 Months Ended
Dec. 31, 2017
Disclosure Of Other Provisions [Abstract]  
Provisions

21.

PROVISIONS

 

a)

The breakdown of provisions as of December 31, 2017 and 2016 is as follows:

 

 

Balance as of

 

12-31-2017

12-31-2016

Provisions

Current

Non-current

Current

Non-current

 

ThCh$

ThCh$

ThCh$

ThCh$

Provision for legal proceedings

3,497,786

-

4,694,579

-

Decommissioning or restoration (*)

-

63,992,567

-

57,325,915

Other provisions

1,798,849

-

1,798,849

-

Total

5,296,635

63,992,567

6,493,428

57,325,915

 

(*) See Note 3.a.

Provision for legal proceedings mainly consist of the contingencies related to the lawsuits on administrative sanctions.

The ultimate timing and amount of the cash outflows related to the above provisions depends on the final resolution of the provisioned matters. For example, in the specific case of the legal proceedings it depends on the final resolution of the related legal claim. The Administration considers that the provisions recognized in the financial statements adequately cover the corresponding risks.

 

b)

Changes in provisions for the years ended December 31, 2017,  and 2016 are as follows:

 

Changes in Provisions

Legal

Proceedings

Decommissioning

and Restoration

Other

Provisions

Total

 

ThCh$

ThCh$

ThCh$

ThCh$

Opening balance as of January 1, 2017

4,694,579

57,325,915

1,798,849

63,819,343

Changes in Provisions

 

 

 

 

Increase (decrease) in existing provisions

309,749

4,340,858

-

4,650,607

Provisions used

(495,166)

-

-

(495,166)

Reversal of Not Used Provision (*)

(1,016,300)

-

-

(1,016,300)

Increase for adjustment to value of money over time

-

2,325,794

-

2,325,794

Foreign currency translation

4,924

-

-

4,924

Total changes in provisions

(1,196,793)

6,666,652

-

5,469,859

Closing Balance as of December 31, 2017

3,497,786

63,992,567

1,798,849

69,289,202

 

 

 

 

 

Changes in Provisions

Legal

Proceedings

Decommissioning

and Restoration

Other

Provisions

Total

 

ThCh$

ThCh$

ThCh$

ThCh$

Opening balance as of January 1, 2016

9,798,765

50,702,975

5,818,849

66,320,589

Changes in Provisions

 

 

 

 

Increase (decrease) in existing provisions

908,447

4,091,238

-

4,999,685

Provisions used

(4,948,437)

-

(4,020,000)

(8,968,437)

Reversal of Not Used Provision (*)

(1,074,333)

-

-

(1,074,333)

Increase for adjustment to value of money over time

-

2,531,702

-

2,531,702

Foreign currency translation

10,137

-

-

10,137

Total changes in provisions

(5,104,186)

6,622,940

(4,020,000)

(2,501,246)

Closing Balance as of December 31, 2016

4,694,579

57,325,915

1,798,849

63,819,343

 

(*) Corresponds to reversals of provisions for Litigation