Reportable segments

12 Months Ended

Dec. 31, 2017

Disclosure of entity's operating segments [Abstract]

Disclosure Of Entitys Reportable Segments Explanatory [Text Block]

Note 24 Reportable segments

24.1 Reportable segments

General information:

The amount of each item presented in each operating segment is equal to that reported to the maximum authority that makes decisions regarding the operation, in order to decide on the allocation of resources to the defined segments and to assess its performance.

These operating segments mentioned are consistent with the way the Company is managed and how results will be reported by the Company. These segments reflect separate operating results that are regularly reviewed by the person responsible for operational decisions in order to make decisions about the resources to be allocated to the segment and assess its performance (See Note 24.2).

The performance of each segment is measured based on net income and revenues. Sales between segments are conducted using terms and conditions at current market rates.

Factors used to identify segments on which a report should be presented:

The segments covered in the report are strategic business units that offer different products and services. These are managed separately because each business requires different technology and marketing strategies.

Description of the types of products and services from which each reportable segment obtains its income from ordinary activities

The operating segments, which obtain income from ordinary activities, generate expenses and whose operating results are reviewed on a regular basis by the maximum authority who makes decisions regarding operations, relate to the following groups of products:

1.	Specialty plant nutrients

2.	Iodine and its derivatives

3.	Lithium and its derivatives

4.	Industrial chemicals

Potassium

6.	Other products and services

Description of income sources for all the other segments

Information regarding assets, liabilities, profits and expenses that cannot be assigned to the segments indicated above, due to the nature of production processes, is included under the "Unassigned amounts” category of the disclosed information.

Basis of accounting for transactions between reportable segments

Sales between segments are made under the same conditions as those made to third parties, and how they are presented in the income statement is constantly monitored.

Description of the nature of the differences between measurements of results of reportable segments and the result of the entity before the expense or income tax expense of incomes and discontinued operations.

The information reported in the segments is extracted from the Company’s consolidated financial statements and therefore there is no need to prepare reconciliations between the data mentioned above and those reported in the respective segments, according to what is stated in paragraph 28 of IFRS 8, "Operating Segments".

For the process of cost allocation in inventory valuation, we identify the direct costs (can be assigned directly to a product) and the common costs (belong to processes of co-production, for example costs of common leaching for the production of iodine and nitrates). The direct costs are directly associated with the product and the common costs are allocated using percentages of sales, prices and inventory rotation.

The allocation of other common costs that are not included in the inventory valuation process, but go straight to the cost of sales, use similar criteria: the costs associated with a product or sales in particular are assigned to that particular product or sales, and the common costs associated with different products or business lines are allocated according to the sales.

Description of the nature of the differences between measurements of assets of reportable segments and the Company´s assets

Assets are not shown classified by segments, as this information is not readily available, Some of these assets are not separable by the type of activity by which they are affected since this information is not used by management in decision-making with respect to resources to be allocated to each defined segment, All assets are disclosed in the "unallocated amounts" category.

Description of the nature of the differences between measurements of liabilities of reportable segments and the Company’s liabilities

Liabilities are not shown classified by segments, as this information is not readily available, Some of these liabilities are not separable by the type of activity by which they are affected, since this information is not used by management in decision-making regarding resources to be allocated to each defined segment. All liabilities are disclosed in the "unallocated amounts" category.

24.2 Reportable segment disclosures:

12/31/2017
Operating segment items	Specialty plant nutrients		Iodine and its derivatives		Lithium and its derivatives		Industrial chemicals		Potassium		Other products and services		Reportable segments		Operating segments		Elimination of inter-segments amounts		Unallocated amounts		Total 12/31/2017
	ThUS$		ThUS$		ThUS$		ThUS$		ThUS$		ThUS$		ThUS$		ThUS$		ThUS$		ThUS$		ThUS$

Revenue		697,251		252,123		644,573		135,578		379,326		48,472		2,157,323		2,157,323		-		-		2,157,323
Revenues from transactions with other operating segments of the same entity		392,693		287,469		551,382		157,158		269,298		201,250		1,859,250		1,859,250		(1,859,250)		-		-

Revenues from external customers and transactions with other operating segments of the same entity		1,089,944		539,592		1,195,955		292,736		648,624		249,722		4,016,573		4,016,573		(1,859,250)		-		2,157,323

Costs of sales		(555,356)		(199,808)		(189,242)		(91,753)		(313,690)		(44,973)		(1,394,822)		(1,394,822)		-		-		(1,394,822)
Administrative expenses		-		-		-		-		-		-		-		-		5,686		(106,857)		(101,171)
Interest expense		-		-		-		-		-		-		-		-		83,689		(133,813)		(50,124)
Depreciation and amortization expense		(91,201)		(35,711)		(34,138)		(14,867)		(54,779)		(7,730)		(238,426)		(238,426)		-		(89)		(238,515)
The entity’s interest in the profit or loss of associates and joint ventures accounted for by the equity method		-		-		-		-		-		-		-		-		27		14,425		14,452
Income tax expense, continuing operations		-		-		-		-		-		-		-		-		(1,072)		(165,101)		(166,173)
Other items other than significant cash		141,895		52,315		455,331		43,825		65,636		3,499		762,501		762,501		(802,288)		634,377		594,590
Income (loss) before taxes
		141,895		52,315		455,331		43,825		65,636		3,499		762,501		762,501		(803,360)		469,276		428,417
Net income (loss) from continuing operations
Net income (loss) from discontinued operations		141,895		52,315		455,331		43,825		65,636		3,499		762,501		762,501		(803,360)		469,276		428,417
Net income (loss)
		-		-		-		-		-		-		-		-		(5,880,934)		10,177,170		4,296,236
Assets		-		-		-		-		-		-		-		-		(3,376,995)		3,503,420		126,425
Equity-accounted investees		-		-		-		-		-		-		-		-		-		117,159		117,159
Increase of non-current assets		-		-		-		-		-		-		-		-				-		-
Liabilities		-		-		-		-		-		-		-		-		(2,286,817)		4,335,585		2,048,768
Impairment loss recognized in profit or loss		(15,025)		335		1,112		(3,546)		(240)		(219)		(17,583)		(17,583)		-		(14,316)		(31,889)
Reversal of impairment losses recognized in profit or loss for the period		-		-		-		-		-		-		-		-		-		-		-

12/31/2016
Operating segment items	Specialty plant nutrients		Iodine and its derivatives		Lithium and its derivatives		Industrial chemicals		Potassium		Other products and services		Reportable segments		Operating segments		Unallocated amounts		Elimination of inter-segments amounts		Total 12/31/2016
	ThUS$		ThUS$		ThUS$		ThUS$		ThUS$		ThUS$		ThUS$		ThUS$		ThUS$		ThUS$		ThUS$

Revenue		623,853		231,144		514,627		104,137		403,323		62,238		1,939,322		1,939,322		-		-		1,939,322
Revenues from transactions with other operating segments of the same entity		91,087		301,917		372,838		356,334		333,823		198,836		1,654,835		1,654,835		-		(1,654,835)		-

Revenues from external customers and transactions with other operating segments of the same entity		714,940		533,061		887,465		460,471		737,146		261,074		3,594,157		3,594,157		-		(1,654,835)		1,939,322

Costs of sales		(478,074)		(191,298)		(175,616)		(67,378)		(359,477)		(56,442)		(1,328,285)		(1,328,285)		-		-		(1,328,285)
Administrative expenses		-		-		-		-		-		-		-		-		(94,647)		6,211		(88,436)
Interest expense		-		-		-		-		-		-		-		-		(149,051)		91,553		(57,498)
Depreciation and amortization expense		(89,864)		(35,958)		(33,010)		(12,666)		(67,571)		(10,612)		(249,681)		(249,681)		(111)		-		(249,792)
The entity’s interest in the profit or loss of associates and joint ventures accounted for by the equity method		-		-		-		-		-		-		-		-		13,047		-		13,047
Income tax expense, continuing operations		-		-		-		-		-		-		-		-		(132,965)		-		(132,965)
Other items other than significant cash		-		-		-		-		-		-		-		-		-		-		-
Income (loss) before taxes		145,779		39,846		339,011		36,759		43,846		5,796		611,037		611,037		317,894		(514,042)		414,889

Net income (loss) from continuing operations		145,779		39,846		339,011		36,759		43,846		5,796		611,037		611,037		184,929		(514,042)		281,924
Net income (loss) from discontinued operations
Net income (loss)		145,779		39,846		339,011		36,759		43,846		5,796		611,037		611,037		184,929		(514,042)		281,924

Assets		-		-		-		-		-		-		-		-		10,605,056		(6,387,076)		4,217,980
Equity-accounted investees		-		-		-		-		-		-		-		-		2,783,001		(2,669,861)		133,140
Increase of non-current assets		-		-		-		-		-		-		-		-		(107,268)				(107,268)
Liabilities		-		-		-		-		-		-		-		-		5,321,161		(3,410,453)		1,910,708
Impairment loss recognized in profit or loss		-		-		(251)		-		-		(698)		(949)		(949)		(39,595)		-		(40,544)
Reversal of impairment losses recognized in profit or loss for the period		133		325				233		2,216		-		2,907		2,907		-		-		2,907

12/31/2015
Operating segment items	Specialty plant nutrients		Iodine and its derivatives		Lithium and its derivatives		Industrial chemicals		Potassium		Other products and services		Reportable segments		Operating segments		Unallocated amounts		Elimination of inter-segments amounts		Total 12/31/2015
	ThUS$		ThUS$		ThUS$		ThUS$		ThUS$		ThUS$		ThUS$		ThUS$		ThUS$		ThUS$		ThUS$
Revenue		652,278		262,570		223,021		97,551		430,642		62,270		1,728,332		1,728,332		-		-		1,728,332
Revenues from transactions with other operating segments of the same entity		137,944		389,172		139,575		347,168		407,903		289,157		1,710,919		1,710,919		-		(1,710,919)		-

Revenues from external customers and transactions with other operating segments of the same entity		790,222		651,742		362,596		444,719		838,545		351,427		3,439,251		3,439,251		-		(1,710,919)		1,728,332

Costs of sales		(461,028)		(184,551)		(109,389)		(71,252)		(303,645)		(55,718)		(1,185,583)		(1,185,583)		-		-		(1,185,583)
Administrative expenses		-		-		-		-		-		-		-		-		(95,176)		8,346		(86,830)
Interest expense		-		-		-		-		-		-		-		-		(197,815)		127,962		(69,853)
Depreciation and amortization expense		(105,545)		(42,249)		(25,044)		(16,312)		(69,513)		(12,758)		(271,421)		(271,421)		(316)		-		(271,737)
The entity’s interest in the profit or loss of associates and joint ventures accounted for by the equity method		-		-		-		-		-		-		-		-		10,326		-		10,326
Income tax expense, continuing operations		-		-		-		-		-		-		-		-		(83,766)		-		(83,766)
Other items other tan significant cash		-		-		-		-		-		-		-		-		-		-		-
Income (loss) before taxes		191,250		78,019		113,632		26,300		126,997		6,552		542,750		542,750		131,291		(365,755)		308,286

Net income (loss) from continuing operations		191,250		78,019		113,632		26,300		126,997		6,552		542,750		542,750		47,525		(365,755)		224,520
Net income (loss) from discontinued operations
Net income (loss)		191,250		78,019		113,632		26,300		126,997		6,552		542,750		542,750		47,525		(365,755)		224,520

Assets		-		-		-		-		-		-		-		-		10,508,312		(5,864,550)		4,643,762
Equity-accounted investees		-		-		-		-		-		-		-		-		3,042,011		(2,962,709)		79,302
Increase of non-current assets		-		-		-		-		-		-		-		-		(203,806)				(203,806)
Liabilities		-		-		-		-		-		-		-		-		4,829,968		(2,586,562)		2,243,406
Impairment loss recognized in profit or loss		-		(200)		(317)		(3)		(3,049)		(373)		(3,942)		(3,942)		(39,801)		-		(43,743)

24.3

Statement of comprehensive income classified by reportable segments based on groups of products

12/31/2017
Items in the statement of comprehensive income	Specialty plant nutrients ThUS$	Iodine and its derivatives ThUS$		Lithium and its derivatives ThUS$		Industrial chemicals ThUS$		Potassium ThUS$		Other products and services ThUS$		Corporate Unit ThUS$		Total segments and Corporate unit ThUS$

Revenue	697,251		252,123		644,573		135,578		379,326		48,472		-		2,157,323
Cost of sales	(555,356)		(199,808)		(189,242)		(91,753)		(313,690)		(44,973)		-		(1,394,822)

Gross profit	141,895		52,315		455,331		43,825		65,636		3,499		-		762,501

Other incomes by function	-		-		-		-		-		-		17,827		17,827
Administrative expenses	-		-		-		-		-		-		(101,171)		(101,171)
Other expenses by function	-		-		-		-		-		-		(61,638)		(61,638)
Other gains (losses)	-		-		-		-		-		-		543		543
Financial income	-		-		-		-		-		-		13,499		13,499
Financial costs	-		-		-		-		-		-		(50,124)		(50,124)
interest in the profit or loss of associates and joint ventures accounted for by the equity method	-		-		-		-		-		-		14,452		14,452
Exchange differences	-		-		-		-		-		-		(1,299)		(1,299)
Profit (loss) before taxes	141,895		52,315		455,331		43,825		65,636		3,499		(167,911)		594,590
Income tax expense	-		-		-		-		-		-		(166,173)		(166,173)
Profit (loss) from continuing operations	141,895		52,315		455,331		43,825		65,636		3,499		(334,084)		428,417
Profit (loss) from discontinued operations	-		-		-		-		-		-		-		-
Profit (loss)	141,895		52,315		455,331		43,825		65,636		3,499		(334,084)		428,417
Profit (loss), attributable to
Profit (loss) attributable to the controller´s owners	-		-		-		-		-		-		-		427,697
Profit (loss) attributable to the non-controllers	-		-		-		-		-		-		-		720
Profit (loss)	-		-		-		-		-		-		-		428,417

	12/31/2016
Items in the statement of comprehensive income	Specialty plant nutrients ThUS$		Iodine and its derivatives ThUS$		Lithium and its derivatives ThUS$		Industrial chemicals ThUS$		Potassium ThUS$		Other products and services ThUS$		Corporate Unit ThUS$		Total segments and Corporate unit ThUS$

Revenue		623,853		231,144		514,627		104,137		403,323		62,238		-		1,939,322
Cost of sales		(478,074)		(191,298)		(175,616)		(67,378)		(359,477)		(56,442)				(1,328,285)

Gross profit		145,779		39,846		339,011		36,759		43,846		5,796		-		611,037

Other incomes by function		-		-		-		-		-		-		15,202		15,202
Administrative expenses		-		-		-		-		-		-		(88,436)		(88,436)
Other expenses by function		-		-		-		-		-		-		(89,731)		(89,731)
Other gains (losses)		-		-		-		-		-		-		679		679
Financial income		-		-		-		-		-		-		10,129		10,129
Financial costs		-		-		-		-		-		-		(57,498)		(57,498)
interest in the profit or loss of associates and joint ventures accounted for by the equity method		-		-		-		-		-		-		13,047		13,047
Exchange differences		-		-		-		-		-		-		460		460
Profit (loss) before taxes		145,779		39,846		339,011		36,759		43,846		5,796		(196,148)		414,889
Income tax expense		-		-		-		-		-		-		(132,965)		(132,965)
Profit (loss) from continuing operations		145,779		39,846		339,011		36,759		43,846		5,796		(329,113)		281,924
Profit (loss) from discontinued operations		-		-		-		-		-		-		-		-
Profit (loss)		145,779		39,846		339,011		36,759		43,846		5,796		(329,113)		281,924
Profit (loss), attributable to
Profit (loss) attributable to the controller´s owners		-		-		-		-		-		-		-		278,290
Profit (loss) attributable to the non-controllers		-		-		-		-		-		-		-		3,634
Profit (loss)		-		-		-		-		-		-		-		281,924

	12/31/2015
Items in the statement of comprehensive income	Specialty plant nutrients ThUS$		Iodine and its derivatives ThUS$		Lithium and its derivatives ThUS$		Industrial chemicals ThUS$		Potassium ThUS$		Other products and services ThUS$		Corporate Unit ThUS$		Total segments and Corporate unit ThUS$

Revenue		652,278		262,570		223,021		97,551		430,642		62,270		-		1,728,332
Cost of sales		(461,028)		(184,551)		(109,389)		(71,252)		(303,645)		(55,718)		-		(1,185,583)

Gross profit		191,250		78,019		113,632		26,299		126,997		6,552		-		542,749

Other incomes by function		-		-		-		-		-		-		15,343		15,343
Administrative expenses		-		-		-		-		-		-		(86,830)		(86,830)
Other expenses by function		-		-		-		-		-		-		(106,415)		(106,415)
Other gains (losses)		-		-		-		-		-		-		3,760		3,760
Financial income		-		-		-		-		-		-		11,570		11,570
Financial costs		-		-		-		-		-		-		(69,853)		(69,853)
interest in the profit or loss of associates and joint ventures accounted for by the equity method		-		-		-		-		-		-		10,326		10,326
Exchange differences		-		-		-		-		-		-		(12,364)		(12,364)
Profit (loss) before taxes		191,250		78,019		113,632		26,299		126,997		6,552		(234,463)		308,286
Income tax expense		-		-		-		-		-		-		(83,766)		(83,766)
Profit (loss) from continuing operations		191,250		78,019		113,632		26,299		126,997		6,552		(318,229)		224,520
Profit (loss) from discontinued operations		-		-		-		-		-		-		-		-
Profit (loss)		191,250		78,019		113,632		26,299		126,997		6,552		(318,229)		224,520
Profit (loss), attributable to
Profit (loss) attributable to the controller´s owners		-		-		-		-		-		-		-		220,356
Profit (loss) attributable to the non-controlling interests		-		-		-		-		-		-		-		4,164
Profit (loss)		-		-		-		-		-		-		-		224,520

24.4	Revenue from transactions with other Company’s operating segments

12/31/2017

Items in the statement of
comprehensive income

Specialty plant
nutrients

Iodine and its
derivatives

Lithium and
its derivatives

Industrial
chemicals

Potassium

Other
products
and services

Total segments
and Corporate
unit

ThUS$

Revenue

697,251

252,123

644,573

135,578

379,326

48,472

2,157,323

12/31/2016

Items in the statement of
comprehensive income

Specialty plant
nutrients

Iodine and its
derivatives

Lithium and
its derivatives

Industrial
chemicals

Potassium

Other
products
and services

Total segments
and Corporate
unit

ThUS$

Revenue

623,853

231,144

514,627

104,137

403,323

62,238

1,939,322

12/31/2015
Items in the statement of comprehensive income	Specialty plant nutrients ThUS$		Iodine and its derivatives ThUS$		Lithium and its derivatives ThUS$		Industrial chemicals ThUS$		Potassium ThUS$		Other products and services ThUS$		Total segments and Corporate unit ThUS$

Revenue		652,278		262,570		223,021		97,551		430,642		62,270		1,728,332

24.5	Disclosures on geographical areas

As indicated in paragraph 33 of IFRS 8, the entity discloses geographical information on its revenue from operating activities with external customers and from non-current assets that are not financial instruments, deferred income tax assets, assets related to post-employment benefits or rights derived from insurance contracts.

24.6	Disclosures on main customers

With respect to the degree of dependency of the Company on its customers, in accordance with paragraph N° 34 of IFRS N° 8, the Company has no external customers who individually represent 10% or more of its revenue, Credit risk concentrations with respect to trade and other accounts receivable are limited due to the significant number of entities in the Company’s portfolio and its worldwide distribution, The Company’s policy requires guarantees (such as letters of credit, guarantee clauses and others) and/or to maintain insurance policies for certain accounts as deemed necessary by the Company's Management.

24.7	Segments by geographical areas as of December 31, 2017, 2016 and 2015

	12/31/2017
Items	Chile ThUS$		Latin America and the Caribbean ThUS$		Europe ThUS$		North America ThUS$		Asia and others ThUS$		Total ThUS$
Revenue		140,764		228,759		553,396		441,377		793,027		2,157,323
Investment accounted for under the equity method		(5,513)		26,860		33,318		15,193		56,567		126,425
Intangible assets other than goodwill		105,313		-		453		182		-		105,948
Goodwill		23,731		6,290		11,374		724		2,058		44,177
Property, plant and equipment, net		1,430,569		313		3,857		2,469		1,574		1,438,782
Investment property		-		-		-		-		-		-
Other non-current assets		19,234		28		-		-		-		19,262
Non-current assets that are not financial instruments		1,573,334		33,491		49,002		18,568		60,199		1,734,594

	12/31/2016
Items	Chile ThUS$		Latin America and the Caribbean ThUS$		Europe ThUS$		North America ThUS$		Asia and others ThUS$		Total ThUS$
Revenue		162,477		240,607		411,807		416,380		708,051		1,939,323
Investment accounted for under the equity method		-		5,000		25,009		13,456		69,675		113,140
Intangible assets other than goodwill		109,227		-		-		211		1		109,439
Goodwill		23,731		86		11,373		724		2,058		37,972
Property, plant and equipment, net		1,526,992		234		3,521		2,536		1,483		1,534,766
Investment property		-		-		-		-		-		-
Other non-current assets		24,551		139		-		-		-		24,690
Non-current assets that are not financial instruments		1,684,501		5,459		39,903		16,927		73,217		1,820,007

	12/31/2015
Items	Chile ThUS$		Latin America and the Caribbean ThUS$		Europe ThUS$		North America ThUS$		Asia and others ThUS$		Total ThUS$
Revenue		188,592		258,262		351,353		439,645		490,480		1,728,332
Investment accounted for under the equity method		1,535		-		23,410		12,913		41,444		79,302
Intangible assets other than goodwill		110,199		-		-		228		1		110,428
Goodwill		26,929		86		11,373		-		-		38,388
Property, plant and equipment, net		1,677,194		260		2,183		2,486		1,453		1,683,576
Investment property		-		-		-		-		-		-
Other non-current assets		33,384		116		-		26		-		33,526
Non-current assets that are not financial instruments		1,849,241		462		36,966		15,653		42,898		1,945,220

24.8	Property, plant and equipment classified by geographical areas

The company's main production facilities are located near their mines and extraction facilities in northern Chile, The following table presents the main production facilities as of December 31, 2017 and December 31, 2016:

	Location		Products
-	Pedro de Valdivia	:	Production of iodine and nitrate salts
-	María Elena	:	Production of iodine and nitrate salts
-	Coya Sur	:	Production of nitrate salts
-	Nueva Victoria	:	Production of iodine and nitrate salts
-	Salar de Atacama	:	Potassium chloride, lithium chloride, boric acid and potassium sulfate
-	Salar del Carmen	:	Production of lithium carbonate and lithium hydroxide
-	Tocopilla	:	Port facilities