Cash and cash equivalents

12 Months Ended

Dec. 31, 2017

DisclosureOfCashAndCashEquivalentsExplanatory [Abstract]

Disclosure of cash and cash equivalents [text block]

Note 7 Cash and cash equivalents

7.1 Types of cash and cash equivalents

As of December 31, 2017 and December 31, 2016, cash and cash equivalents are detailed as follows:

a)          Cash	12/31/2017		12/31/20161
	ThUS$		ThUS$
Cash on hand		60		53
Cash in banks		50,137		80,287
Other demand deposits		1,530		1,260
Total cash		51,727		81,600

b)          Cash equivalents	12/31/2017		12/31/2016
	ThUS$		ThUS$
Short-term deposits, classified as cash equivalents		290,914		95,673
Short-term investments, classified as cash equivalents		287,797		337,396
Total cash equivalents		578,711		433,069
Total cash and cash equivalents		630,438		514,669

7.2 Short-term investments, classified as cash equivalents

As of December 31, 2017 and December 31, 2016, the short-term investments classified as cash and cash equivalents relate to mutual funds (investment liquidity funds) for investments in:

Institution	12/31/2017		12/31/2016
	ThUS$		ThUS$
Legg Mason - Western Asset Institutional Cash Reserves		144,464		178,446
JP Morgan US dollar Liquidity Fund Institutional		143,333		158,950
Total		287,797		337,396

Short-term investments are highly liquid fund manager accounts that are basically invested in short-term fixed rate notes in the U.S. market.

7.3 Information on cash and cash equivalents by currency

As of December 31, 2017 and December 31, 2016, information on cash and cash equivalents by currency is detailed as follows:

Original currency	12/31/2017		12/31/2016
	ThUS$		ThUS$
Chilean Peso (*)		579		6,044
US Dollar		612,727		490,978
Euro		9,782		11,386
Mexican Peso		258		309
South African Rand		4,074		3,250
Japanese Yen		1,773		2,149
Peruvian Sol		8		3
Brazilian Real		38		59
Chinese Yuan		1,143		400
Indian Rupee		-		8
Thai Baht		-		8
Argentine Peso		1		4
Pound Sterling		55		71
Total		630,438		514,669

(*)The Company maintains financial derivative policies which allow to minimize the risk of the variation in Chilean pesos exchange rate.

7.4 Amount restricted (unavailable) cash balances

Cash on hand and in current bank accounts are available resources, and their carrying value is equal to their fair value.

As of December 31, 2017 and December 31, 2016, restricted cash balances are presented in Note 10.9.

7.5       Short-term deposits, classified as cash equivalents

The detail at the end of each period is as follows:

2017 Receiver of the deposit	Type of deposit	Original Currency	Interest rate	Placement date	Expiration date	Principal		Interest accrued to-date		12/31/2017
						ThUS$		ThUS$		ThUS$
Scotiabank Sud Americano	Fixed term		0.24	11-21-2017	1-2-2018		8,943		30		8,973
Banco Itau Chile	Fixed term	Ch$	0.24	11-28-2017	1-2-2018		15,652		41		15,693
Banco Itau Chile	Fixed term	Ch$	0.24	11-28-2017	1-2-2018		15,652		41		15,693
Banco BBVA Chile	Fixed term	Ch$	0.23	11-28-2017	1-2-2018		15,652		40		15,692
Banco BBVA Chile	Fixed term	Ch$	0.23	11-28-2017	1-2-2018		15,652		40		15,692
Banco Itau Chile	Fixed term	Ch$	0.25	11-29-2017	2-27-2018		18,857		50		18,907
Banco Crédito e Inversiones	Fixed term	Ch$	0.26	12-12-2017	1-11-2018		15,982		26		16,008
Banco Crédito e Inversiones	Fixed term	Ch$	0.26	12-12-2017	1-11-2018		8,524		14		8,538
Banco Itau Chile	Fixed term	Ch$	0.24	12-12-2017	1-11-2018		15,982		24		16,006
Banco Itau Chile	Fixed term	Ch$	0.24	12-12-2017	1-11-2018		7,458		11		7,469
Banco Crédito e Inversiones	Fixed term	Ch$	0.26	12-14-2017	1-16-2018		19,780		29		19,809
Banco Crédito e Inversiones	Fixed term	Ch$	0.26	12-14-2017	1-16-2018		15,665		23		15,688
Banco Crédito e Inversiones	Fixed term	Ch$	0.26	12-14-2017	1-16-2018		11,488		17		11,505
Banco Crédito e Inversiones	Fixed term	Ch$	0.26	12-15-2017	1-16-2018		15,568		22		15,590
Banco Crédito e Inversiones	Fixed term	Ch$	0.26	12-15-2017	1-16-2018		15,568		22		15,590
Banco Crédito e Inversiones	Fixed term	Ch$	0.26	12-15-2017	1-16-2018		15,568		22		15,590
Banco BBVA Chile	Fixed term	Ch$	0.24	12-29-2017	1-10-2018		4,107		1		4,108
Banco BBVA Chile	Fixed term	Ch$	0.24	12-29-2017	1-10-2018		2,765		-		2,765
Banco Santander - Santiago	Fixed term	US$	0.28	12-27-2017	1-18-2018		700		-		700
Banco Santander - Santiago	Fixed term	US$	0.4	12-15-2017	2-13-2018		15,000		27		15,027
Banco Santander - Santiago	Fixed term	US$	0.4	12-15-2017	2-13-2018		14,000		25		14,025
Corpbanca	Fixed term	Ch$	0.22	12-28-2017	1-4-2018		1,301		-		1,301
Scotiabank Sud Americano	Fixed term	Ch$	0.21	12-29-2017	1-5-2018		976		-		976
Scotiabank Sud Americano	Fixed term	Ch$	0.21	12-29-2017	1-5-2018		569		-		569
Banco Santander - Santiago	Fixed term	US$	2.45	12-6-2017	1-5-2018		3,500		6		3,506
Scotiabank Sud Americano	Fixed term	US$	3.40	12-15-2017	1-16-2018		2,000		3		2,003
Banco BBVA Chile	Fixed term	US$	2.80	12-26-2017	1-26-2018		2,200		1		2,201
Banco Crédito e Inversiones	Fixed term	US$	2.3	12-27-2017	1-4-2018		2,300		1		2,301
Banco Santander - Santiago	Fixed term	US$	2.88	12-27-2017	1-4-2018		2,300		1		2,301
Banco BBVA Chile	Fixed term	US$	2.80	12-27-2017	1-4-2018		1,400		-		1,400
BBVA Banco Francés	Fixed term	US$	0.19	12-11-2017	1-31-2018		163		-		163
Nedbank	On demand	US$	-	12-1-2017	1-31-2018		3,686		-		3,686
ABN Amro Bank	Fixed term	US$	-	12-31-2017	1-2-2018		1,439		-		1,439
Total							290,397		517		290,914

2016 Receiver of the deposit	Type of deposit	Original Currency	Interest rate	Placement date	Expiration date	Principal		Interest accrued to-date		12/31/2016
						ThUS$		ThUS$			ThUS$
Scotiabank Sud Americano	Fixed term	US$	1.28	12/29/2016	1/31/2017		9,900		1		9,901
Banco de Chile	Fixed term	US$	0.90	12/30/2016	1/9/2017		15,000		1		15,001
Banco Crédito e Inversiones	Fixed term	US$	0.90	12/30/2016	1/10/2017		10,000		-		10,000
Banco Crédito e Inversiones	Fixed term	US$	0.93	10/11/2016	1/30/2017		13,000		27		13,027
Banco BBVA Chile	Fixed term	US$	0.75	10/11/2016	1/30/2017		2,000		3		2,003
Banco Santander - Santiago	Fixed term	US$	1.21	12/1/2016	1/3/2017		3,500		4		3,504
Banco de Chile	Fixed term	US$	0.76	12/7/2016	1/6/2017		3,900		2		3,902
Banco Santander - Santiago	Fixed term	US$	0.90	12/12/2016	1/12/2017		5,000		2		5,002
Banco de Chile	Fixed term	US$	1.30	12/12/2016	1/12/2017		1,700		1		1,701
Banco Crédito e Inversiones	Fixed term	US$	0.88	12/14/2016	1/17/2017		2,000		1		2,001
Corpbanca	Fixed term	US$	1.28	12/20/2016	2/21/2017		800		-		800
Scotiabank Sud Americano	Fixed term	US$	1.28	12/20/2016	2/21/2017		5,000		2		5,002
Banco Santander - Santiago	Fixed term	US$	0.75	12/22/2016	1/23/2017		3,500		1		3,501
Banco Santander - Santiago	Fixed term	US$	1.25	12/28/2016	2/9/2017		3,900		1		3,901
Banco Security	Fixed term	US$	1.31	12/28/2016	2/9/2017		3,300		-		3,300
Banco Security	Fixed term	US$	1.00	12/29/2016	1/30/2017		3,800		-		3,800
Banco Santander - Santiago	Fixed term	Ch$	0.31	12/16/2016	1/2/2017		1,942		3		1,945
Corpbanca	Fixed term	Ch$	0.32	12/29/2016	1/9/2017		597		1		598
Scotiabank Sud Americano	Fixed term	Ch$	0.33	12/30/2016	1/9/2017		2,091		-		2,091
Citibank New York	Overnight	US$	0.01	12/31/2016	1/1/2017		1,742		-		1,742
BBVA Banco Francés	Fixed term	US$	0.21	24/102016	1/31/2017		199		-		199
Nedbank	On demand	US$	-	12/1/2016	1/31/2017		2,752		-		2,752
Total							95,623		50		95,673

7.6       Other information

Net Debt reconciliation

This section sets out an analysis of net debt and the movements in net debt for each of the periods presented.

Net debt	12/31/2017		12/31/2016
	ThUS$		ThUS$
Cash and cash equivalents		630,438		514,669
Liquid investments		360,941		284,160
Borrowings - repayable within one year (including overdraft)		(177,062)		(160,243)
Borrowings - repayable after one year		(1,031,507)		(1,059,706)
Net debt		(217,190)		(421,120)
Cash and liquid investments		991,379		798,829
Gross debt - fixed interest rates		(1,208,569)		(1,219,949)
Net debt		(217,190)		(421,120)

	Other Assets				Liabilities from financing activities
	Cash/bank overdraft		Liquid Investments		Borrow. Due within 1 year		Borrow. Due after 1 year		Total
	ThUS$		ThUS$		ThUS$		ThUS$		ThUS$
Net debt as at 1 January 2016		527,259		617,267		(399,275)		(1,217,172)		(471,921)
Cash flows		(20,362)		(339,556)		277,000		140,000		57,082
Foreign exchange adjustments		7,772		6,449		(1,879)		(25,015)		(12,673)
Other non - cash movements		-		-		(36,089)		42,481		6,392
Net debt as at 31 december 2016		514,669		284,160		(160,243)		(1,059,706)		(421,120)
Cash flows		98,285		59,326		(16,288)		54,275		195,598
Foreign exchange adjustments		17,484		17,455		(531)		(26,287)		8,121
Other non - cash movements		-		-		-		211		211
Net debt as at 31 december 2017		630,438		360,941		(177,062)		(1,031,507)		(217,190)