0001558370-23-012434 | 20-F/A | XBRL Viewer | Chemical Mining CO OF Chile INC

Print Document View Excel Document

Income tax and deferred taxes

12 Months Ended

Dec. 31, 2022

Income tax and deferred taxes

Income tax and deferred taxes

Note 25 Income tax and deferred taxes

Tax receivables as of December 31, 2022 and 2021, are as follows:

25.1Current and non-current tax assets

(a)Current


	As of	As of
	December 31,	December 31,
Current tax assets	2022	2021
	ThUS$	ThUS$
Monthly provisional income tax payments, Chilean companies	894	435
Monthly provisional income tax payments, foreign companies	96,906	62
Corporate tax credits (1)	653	674
1st category tax absorbed by tax losses (2)	169	26,848
Taxes in recovery process	126,292	129,523
Total	224,914	157,542

(b)	Non-current


	As of	As of
	December 31,	December 31,
Non-current tax assets	2022	2021
	ThUS$	ThUS$
Total tax paid at SQM Salar (see note 19.3)	127,114	90,364
Total	127,114	90,364

(1)	These credits are available for companies and are related to corporate tax payments in April of the following year. These credits include, among others, credits for training expenses (SENCE), credits for acquisition of fixed assets, donations and credits in Chile for taxes paid abroad.

(2)	This concept corresponds to the tax loss absorptions determined by the company at the end of the year, which must be attributed to the dividends received during the year.

25.2 Current tax liabilities


	As of	As of
	December 31,	December 31,
Current tax liabilities	2022	2021
	ThUS$	ThUS$
1st Category income tax	337,245	139,842
Foreign company income tax	19,366	27,055
Article 21 single tax	—	38
Total	356,611	166,935

Income tax is calculated based on the profit or loss for tax purposes that is applied to the effective tax rate applicable in Chile. As established by Law No. 20,780 is 27%.

The royalty is determined by applying the taxable rate to the net operating income obtained, according to the chart in force. The Company currently provisioned 9.60% for mining royalties that involve operations in the Salar de Atacama and 9.09% for caliche extraction operations.

The income tax rate for the main countries where the Company operates is presented below:


	Income tax		Income tax
Country	2022		2021
Spain	25	%	25	%
Belgium	25	%	25	%
Mexico	30	%	30	%
United States	21% + 3.51	%	21% + 3.51	%
South Africa	28	%	28	%
Korea	25	%	25	%
China	25%+12% (1)		25%+12% (1)	%

(1)	Additional tax of 12% on VAT payable.

25.3	Income tax and deferred taxes

(a)

Deferred tax assets and liabilities as of December 31, 2022


	Net liability position
Description of deferred tax assets and liabilities as of December 31, 2022	Assets	Liabilities
	ThUS$	ThUS$
Unrealized loss	655,695	—
Property, plant and equipment and capitalized interest (1)	—	(244,560)
Restoration and rehabilitation provision	4,685	—
Manufacturing expenses	—	(139,383)
Employee benefits and unemployment insurance	—	(8,995)
Vacation accrual	7,650	—
Inventory provision	27,512	—
Materials provision	11,915	—
Others employee benefits	1,177	—
Research and development expenses	—	(12,294)
Bad debt provision	715	—
Provision for legal complaints and expenses	6,827	—
Loan acquisition expenses	—	(8,793)
Financial instruments recorded at market value	5,226	—
Specific tax on mining activity	—	(5,799)
Tax loss benefit	10,059	—
Other	2,913	—
Foreign items (other)	96	—
Balances to date	734,470	(419,824)
Net balance		314,646

(1)

This includes right-of-use assets.

(b)

Deferred tax assets and liabilities as of December 31, 2021


	Net liability position
Description of deferred tax assets and liabilities as of December 31, 2021	Assets	Liabilities
	ThUS$	ThUS$
Unrealized loss	144,181	—
Property, plant and equipment and capitalized interest (1)	—	(189,073)
Restoration and rehabilitation provision	6,567	—
Manufacturing expenses	—	(108,181)
Employee benefits and unemployment insurance	—	(7,485)
Vacation accrual	6,039	—
Inventory provision	20,557	—
Materials provision	10,554	—
Others employee benefits	929	—
Research and development expenses	—	(5,387)
Bad debt provision	2,708	—
Provision for legal complaints and expenses	334	—
Loan acquisition expenses	—	(8,967)
Financial instruments recorded at market value	5,242	—
Specific tax on mining activity	—	(4,545)
Tax loss benefit	7,113	—
Other	8,862	—
Foreign items (other)	136	—
Balances to date	213,222	(323,638)
Net balance		(110,416)

(1)

This item includes right-of-use assets.

Deferred tax assets and liabilities in the consolidated statement of financial position as of December 31, 2022 and 2021, are as follows:


	As of	As of
	December 31,	December 31,
Movements of deferred tax assets and liabilities	2022	2021
	ThUS$	ThUS$
Deferred tax assets	604,471	135,904
Deferred tax liabilities	(289,825)	(246,320)
Total	314,646	(110,416)

(c)

Reconciliation of changes in deferred tax liabilities (assets) as of December 31, 2022


		Deferred tax	Deferred taxes
		(expense)	related to items	Total increases
	Deferred tax	benefit	credited	(decreases) in	Deferred tax
	liability (asset)	recognized in	(charged)	deferred tax	liability (asset)
	at beginning of	profit (loss) for	directly to	liabilities	at end of
Reconciliation of changes in deferred tax liabilities (assets)	period	the year	equity	(assets)	period
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
Unrealized loss	(144,181)	(511,514)	—	(511,514)	(655,695)
Property, plant and equipment and capitalized interest	189,073	55,487	—	55,487	244,560
Restoration and rehabilitation provision	(6,567)	1,882	—	1,882	(4,685)
Manufacturing expenses	108,181	31,202	—	31,202	139,383
Employee benefits and unemployment insurance	7,486	2,779	(1,270)	1,509	8,995
Vacation accrual	(6,039)	(1,611)	—	(1,611)	(7,650)
Inventory provision	(20,557)	(6,955)	—	(6,955)	(27,512)
Materials provision	(10,554)	(1,361)	—	(1,361)	(11,915)
Derivative financial instruments	—	(7,172)	7,172	—	—
Others employee benefits	(929)	(248)	—	(248)	(1,177)
Research and development expenses	5,387	6,907	—	6,907	12,294
Bad debt provision	(2,708)	1,993	—	1,993	(715)
Provision for legal complaints and expenses	(334)	(6,493)	—	(6,493)	(6,827)
Loan approval expenses	8,967	(174)	—	(174)	8,793
Financial instruments recorded at market value	(5,243)	—	17	17	(5,226)
Specific tax on mining activity	4,545	1,257	(3)	1,254	5,799
Tax loss benefit	(7,113)	(1,502)	—	(1,502)	(8,615)
Others	(8,862)	(7,187)	—	(7,187)	(16,049)
Foreign items (other)	(136)	11,732	—	11,732	11,596
Total temporary differences, unused losses and unused tax credits	110,416	(430,978)	5,916	(425,062)	(314,646)

(d)Reconciliation of changes in deferred tax liabilities (assets) as of December 31, 2021


		Deferred tax	Deferred taxes
		(expense)	related to items	Total increases
	Deferred tax	benefit	credited	(decreases) in
	liability (asset)	recognized in	(charged)	deferred tax	Deferred tax
	at beginning of	profit (loss) for	directly to	liabilities	liability (asset)
Reconciliation of changes in deferred tax liabilities (assets)	period	the year	equity	(assets)	at end of period
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
Unrealized loss	(90,585)	(53,596)	—	(53,596)	(144,181)
Property, plant and equipment and capitalized interest	187,168	1,905	—	1,905	189,073
Restoration and rehabilitation provision	(6,597)	30	—	30	(6,567)
Manufacturing expenses	107,215	966	—	966	108,181
Employee benefits and unemployment insurance	6,669	687	130	817	7,486
Vacation accrual	(6,138)	99	—	99	(6,039)
Inventory provision	(22,200)	1,643	—	1,643	(20,557)
Materials provision	(8,812)	(1,742)	—	(1,742)	(10,554)
Derivative financial instruments	—	14,246	(14,246)	—	—
Others employee benefits	—	(929)	—	(929)	(929)
Research and development expenses	3,581	1,806	—	1,806	5,387
Bad debt provision	(5,072)	2,364	—	2,364	(2,708)
Provision for legal complaints and expenses	(19,637)	19,303	—	19,303	(334)
Loan approval expenses	5,212	3,755	—	3,755	8,967
Financial instruments recorded at market value	3,929	(5,354)	(3,818)	(9,172)	(5,243)
Specific tax on mining activity	3,012	1,521	12	1,533	4,545
Tax loss benefit	(844)	(6,269)	—	(6,269)	(7,113)
Others	(1,454)	(7,408)	—	(7,408)	(8,862)
Foreign items (other)	654	(790)	—	(790)	(136)
Total temporary differences, unused losses and unused tax credits	156,101	(27,763)	(17,922)	(45,685)	110,416

(e)	Deferred taxes related to benefits for tax losses

The Company’s tax loss carryforwards were mainly generated by losses in Chile, which in accordance with current Chilean tax regulations have no expiration date.

As of December 31, 2022, and 2021, tax loss carryforwards are detailed as follows:


	As of	As of
	December 31,	December 31,
Deferred taxes related to benefits for tax losses	2022	2021
	ThUS$	ThUS$
Chile	10,059	7,113
Foreign	—	1,444
Total	10,059	8,557

The tax losses as of December 31, 2022, which are the basis for these deferred taxes correspond mainly to Comercial Hydro S.A., Orcoma SpA., Orcoma Estudio SpA y SCM Búfalo.

(f)Movements in deferred tax assets and liabilities

Movements in deferred tax assets and liabilities as of December 31, 2022 and 2021 are detailed as follows:


	Assets (liabilities)
	As of	As of
	December 31,	December 31,
Movements in deferred tax assets and liabilities	2022	2021
	ThUS$	ThUS$
Deferred tax assets and liabilities, net opening balance	(110,416)	(156,101)
Increase (decrease) in deferred taxes in profit or loss	430,978	27,763
Increase (decrease) deferred taxes in equity	(5,916)	17,922
Total	314,646	(110,416)

(g)Disclosures on income tax (expenses) benefits

Current and deferred tax (expenses) benefits are detailed as follows:


	(Expense) Income
	As of	As of	As of
	December 31,	December 31,	December 31,
Disclosures on income tax (expense) benefit	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Current income tax (expense) benefit
Current tax expense	(2,002,564)	(279,105)	(97,374)
Adjustments to prior year current income tax (expense) benefit	(626)	2,326	(1,901)
Current income tax expense, net, total	(2,003,190)	(276,779)	(99,275)
Deferred tax (expense) benefit
Deferred tax benefits relating to the creation and reversal of temporary differences	427,680	28,445	26,219
Tax adjustments related to the creation and reversal of temporary differences from the previous year	3,298	(682)	2,877
Total deferred tax benefits, net	430,978	27,763	29,096
Income tax expense	(1,572,212)	(249,016)	(70,179)

Income tax (expenses) benefit for foreign and domestic parties are detailed as follows:


	(Expense) Income
	As of	As of	As of
	December 31,	December 31,	December 31,
Income tax (expense) benefit	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Current income tax benefit (expense) by foreign and domestic parties, net
Current income tax expenses, foreign parties, net	(213,060)	(46,748)	(9,782)
Current income tax expenses, domestic, net	(1,790,130)	(230,031)	(89,493)
Current income tax expense, net, total	(2,003,190)	(276,779)	(99,275)
Deferred tax benefit (expense) by foreign and domestic parties, net
Current income tax (expense) benefit, foreign parties, net	(21,338)	(6,679)	10,284
Current income tax benefits, domestic, net	452,316	34,442	18,812
Deferred tax expense, net, total	430,978	27,763	29,096
Income tax expense	(1,572,212)	(249,016)	(70,179)

(h)Disclosures on the tax effects of other comprehensive income components:


	As of December 31, 2022
	Amount before taxes	(Expense) income for
Income tax related to other income and expense components with a charge or credit to net equity	(expense) gain	income taxes	Amount after taxes
	ThUS$	ThUS$	ThUS$
(Losses) income from defined benefit plans	(6,350)	1,273	(5,077)
Cash flow hedges	26,622	(7,172)	19,450
Reserve for (losses) income from financial assets measured at fair value through other comprehensive income	190	(17)	173
Total	20,462	(5,916)	14,546


	As of December 31, 2021
	Amount before taxes	(Expense) income for
Income tax related to other income and expense components with a charge or credit to net equity	(expense) gain	income taxes	Amount after taxes
	ThUS$	ThUS$	ThUS$
Income (losses) from defined benefit plans	4,679	(142)	4,537
Cash flow hedges	(52,762)	14,246	(38,516)
Reserve for (losses) income from financial assets measured at fair value through other comprehensive income	(12,072)	3,818	(8,254)
Total	(60,155)	17,922	(42,233)


	As of December 31, 2020
	Amount before taxes	(Expense) income for
Income tax related to other income and expense components with a charge or credit to net equity	(expense) gain	income taxes	Amount after taxes
	ThUS$	ThUS$	ThUS$
Income (losses) from defined benefit plans	974	(145)	829
Cash flow hedges	(3,706)	1,001	(2,705)
Reserve for income (losses) from financial assets measured at fair value through other comprehensive income	9,784	(2,642)	7,142
Total	7,052	(1,786)	5,266

(i)	Explanation of the relationship between (expense) benefit for tax purposes and accounting income.

Based on IAS 12, paragraph 81, letter “c”, the company has estimated that the method that discloses the most significant information for users of the financial statements is the numeric conciliation between the tax benefit (expense) and the result of multiplying the accounting profit by the current rate in Chile. The aforementioned choice is based on the fact that the Company and subsidiaries established in Chile generate a large part of the Company’s tax benefit (expense). The amounts provided by subsidiaries established outside Chile have no relative importance in the overall context.

Reconciliation between the tax benefit (expense) and the tax calculated by multiplying income before taxes by the Chilean corporate income tax rate.


	(Expense) Benefit
	As of		As of		As of
	December 31,		December 31,		December 31,
Income Tax Expense (Benefit)	2022		2021		2020
	ThUS$		ThUS$		ThUS$
Consolidated income before taxes	5,486,496		841,221		238,538
Statutory income tax rate in Chile	27	%	27	%	27	%
Tax expense using the statutory tax rate	(1,481,354)		(227,130)		(64,405)
Net effect of royalty tax payments	(57,500)		(13,350)		(4,659)
Tax effect of income from regular activities exempt from taxation and dividends from abroad	3,490		(260)		1,786
Tax rate effect of non-tax-deductible expenses for determining taxable profit (loss)	(11,058)		(2,226)		(2,987)
Tax effect of tax rates supported abroad	(25,053)		(5,622)		(2,077)
Effects of changes resulting from classifying a permanent item as a temporary one	—		—		4,826
Other tax effects of reconciliation of accounting income to tax expense	(737)		(428)		(2,663)
Tax expense using the effective tax rate	(1,572,212)		(249,016)		(70,179)

(j)Tax periods potentially subject to verification:

The Group’s Companies are potentially subject to income tax audits by tax authorities in each country These audits are limited to a number of interim tax periods, which, in general, when they elapse, give rise to the expiration of these inspections.

Tax audits, due to their nature, are often complex and may require several years. Below, we provide a summary of tax periods that are potentially subject to verification, in accordance with the tax regulations in force in the country of origin:

(i)Chile

According to article 200 of Decree Law No 830, the taxes will be reviewed for any deficiencies in terms of payment and to generate any taxes that might arise. There is a 3-year prescriptive period for such review, dating from the expiration of the legal deadline when payment should have been made. This prescriptive period can be extended to 6 years for the revision of taxes subject to declaration, when such declaration has not been filed or has been presented with maliciously false information.

(ii)United States

In the United States, the tax authority may review tax returns for up to 3 years from the expiration date of the tax return. In the event that an omission or error is detected in the tax return of sales or cost of sales, the review can be extended for a period of up to 6 years.

(iii)Mexico:

In Mexico, the tax authority can review tax returns up to 5 years from the expiration date of the tax return.

(iv)Spain:

In Spain, the tax authority can review tax returns up to 4 years from the expiration date of the tax return.

A subsidiary of the Company, SQM Iberian S.A., is being reviewed by the Spanish Tax Authority. This audit could involve adjustments to tax returns filed in Spain.

(v)Belgium:

In Belgium, the tax authority may review tax returns for up to 3 years from the expiration date of the tax return if no tax losses exist. In the event of detecting an omission or error in the tax return, the review can be extended for a period of up to 5 years.

(vi)South Africa:

In South Africa, the tax authority may review tax returns for up to 3 years from the expiration date of the tax return. In the event that an omission or error in the tax return is detected, the review can be extended for a period of up to 5 years.

A subsidiary of the Company, SQM Africa Pty., is being reviewed by the South African Tax Authority. This audit could involve adjustments to tax returns filed in South Africa.

(vii) China:

Tax returns up to 3 years old from the due date of the return can be reviewed, in special circumstances this can be extended to 5 years. When tax evasion or fraud is involved, the tax authorities will pursue the collection of tax and there is no time limit.

(viii) Korea:

Tax returns up to 5 years old from the due date of the return can be reviewed, but this can be extended to 7 years for cross-border transactions. Failure to file the tax return on the legal due date will result in this deadline being extended by up to 5 years and 10 years for cross-border transactions. When tax evasion or fraud is involved, it will be extended by up to 10 years and 15 years for cross-border transactions.

Joint Ventures - Other Joint Venture Disclosures (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement [Line Items]
Cash and cash equivalents	$ 2,655,236	$ 1,515,051	$ 509,102	$ 588,530
Other current financial liabilities	522,999	51,305
Other non-current financial liabilities	2,394,218	2,587,732
Depreciation and amortization expense	(244,458)	(214,239)	(203,912)
Interest Expense	(86,651)	(84,626)	$ (82,199)
SQM Vitas Fzco.
Statement [Line Items]
Cash and cash equivalents	3,866	4,115
Other current financial liabilities	9,753	0
Other non-current financial liabilities	0	0
Depreciation and amortization expense	0
Interest Expense	(1)	(1)
Income tax benefit (expense)	0	0
SQM Vitas Brasil Agroindustria
Statement [Line Items]
Cash and cash equivalents	3,820	4,132
Other current financial liabilities	82	10,416
Other non-current financial liabilities	0	0
Depreciation and amortization expense	(331)	(278)
Interest Expense	(333)	(367)
Income tax benefit (expense)	3,164	1,985
SQM Vitas Peru S.A.C.
Statement [Line Items]
Cash and cash equivalents	2,208	380
Other current financial liabilities	4,951	238
Other non-current financial liabilities	117	289
Depreciation and amortization expense	(360)	(354)
Interest Expense	(298)	(311)
Income tax benefit (expense)	2,370	1,692
Joint ventures
Statement [Line Items]
Cash and cash equivalents	12,913	13,272
Other current financial liabilities	15,280	19,195
Other non-current financial liabilities	117	289
Depreciation and amortization expense	(1,050)	(1,044)
Interest Expense	(1,019)	(1,193)
Income tax benefit (expense)	4,899	3,507
Pavoni & C. Spa
Statement [Line Items]
Cash and cash equivalents	1,088	787
Other current financial liabilities	494	7,561
Other non-current financial liabilities	0	0
Depreciation and amortization expense	(183)	(245)
Interest Expense	(347)	(459)
Income tax benefit (expense)	459	173
Covalent Lithium Pty Ltd.
Statement [Line Items]
Cash and cash equivalents	1,931	3,858
Other current financial liabilities	0	980
Other non-current financial liabilities	0	0
Depreciation and amortization expense	(176)	(167)
Interest Expense	(40)	(55)
Income tax benefit (expense)	$ (1,094)	$ (343)

Joint Ventures

12 Months Ended

Dec. 31, 2022

Joint Ventures

Joint Ventures

Note 8Joint Ventures

8.1Investment in joint ventures accounted for under the equity method of accounting.


				Share in profit (loss) of joint ventures
	Equity-accounted investees			accounted for using the equity method
	As of	As of	As of	For the year ended	For the year ended	For the year ended
	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,
Joint Venture	2022	2021	2020	2022	2021	2020
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
SQM Vitas Fzco.	20,793	8,682	9,720	8,208	6,304	2,010
SQM Qingdao Star Corp Nutrition Co. Ltd.	—	—	—	—	—	83
Pavoni & C. Spa	7,315	7,030	7,222	470	174	9
Covalent Lithium Pty Ltd.	—	—	—	—	—	—
Sichuan SQM Migao Chemical Fertilizers Co Ltd.	—	—	9,028	—	—	(280)
Total	28,108	15,712	25,970	8,678	6,478	1,822


	Share on other comprehensive income joint ventures			Share on total comprehensive income of joint ventures
	accounted for using the equity method			accounted for using the equity method
	As of	As of	As of	For the year ended	For the year ended	For the year ended
	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,
Joint Venture	2022	2021	2020	2022	2021	2020
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
Coromandel SQM India (*)	—	—	—	—	—	—
SQM Vitas Fzco.	674	429	(1,469)	8,882	6,733	541
SQM Qingdao Star Corp Nutrition Co. Ltd. (*)	—	—	—	—	—	83
SQM Vitas B.V.	—	—	—	—	—	—
Pavoni & C. Spa	(210)	(317)	349	260	(143)	358
Covalent Lithium Pty Ltd.	90	37	16	90	37	16
Sichuan SQM Migao Chemical Fertilizers Co Ltd.	—	—	—	—	—	(280)
Total	554	149	(1,104)	9,232	6,627	718

(*)	These investments were disposed of in 2021

(*)	See more details in Note 8.4 (a).

The amounts described in the following box represent numbers used in the consolidation of the company:

Equity-accounted investees

Share in profit (loss) of joint ventures

accounted for using the equity method

As of

For the year ended

December 31,

Joint Venture

2022

2021

2020

2022

2021

2020

ThUS$

SQM Vitas Brasil Agroindustria (1)

14,667

—

3,511

5,834

4,582

1,018

SQM Vitas Perú S.A.C. (1)

1,340

4,681

1,659

2,293

1,645

660

Total

16,007

4,681

5,170

8,127

6,227

1,678

Share on other comprehensive income of

Share on total comprehensive income of

joint ventures accounted for using

the equity method, for the period ended

As of

For the year ended

December 31,

Joint Venture

2022

2021

2020

2022

2021

2020

ThUS$

SQM Vitas Brasil Agroindustria (1)

551

(429)

(1,469)

6,385

4,153

(451)

SQM Vitas Perú S.A.C. (1)

—

2,293

1,645

660

Total

551

(429)

(1,469)

8,678

5,798

209

(1)

The companies are subsidiaries of:

SQM Vitas Fzco.


						Dividends received for the year ending
				Share of		As of	As of	As of
	Description of the nature		Country of	interest in		December 31,	December 31,	December 31,
Joint venture	of the relationship	Domicile	incorporation	ownership		2022	2021	2020
						ThUS$	ThUS$	ThUS$
Sichuan SQM Migao Chemical Fertilizers Co Ltd.	Production and distribution of soluble fertilizers.	Huangjing Road, Dawan Town, Qingbaijiang Dristrict, Chengdu Municipality, Sichuan Province	China	50	%	—	—	—
SQM Vitas Fzco.	Production and commercialization of specialty plant, animal nutrition and industrial hygiene.	Jebel ALI Free Zone P.O. Box 18222, Dubai	United Arab Emirates	50	%	—	—	—
SQM Qingdao Star Corp Nutrition Co. Ltd.	Production and distribution of nutrient plant solutions with specialties NPK soluble.	Longquan Town, Jimo City, Qingdao Municipality, Shangdong Province	China	50	%	—	—	2,223
Pavoni & C. Spa	Production of specialty fertilizers and others for distribution in Italy and other countries.	Corso Italia 172, 95129 Catania -CT, Sicilia	Italy	50	%	—	—	—
SQM Vitas Brasil Agroindustria (1)	Production and trading of specialty vegetable and animal nutrition and industrial hygiene.	Via Cndeias, Km. 01 Sem Numero, Lote 4, Bairro Cia Norte, Candeias, Bahia.	Brazil	49.99	%	—	—	—
SQM Vitas Perú S.A.C. (1)	Production and trading of specialty vegetable and animal nutrition and industrial hygiene	Av. Juan de Arona 187, Torre B, Oficina 301-II, San Isidro, Lima	Peru	50	%	—	—	—
Covalent Lithium Pty Ltd.	Development and operation of the Mt. Holland Lithium project, which will include the construction of a lithium extraction and refining mine.	L18, 109 St Georges Tce Perth WA 6000 \|PO Box Z5200 St Georges Tce Perth WA 6831	Australia	50	%	—	—	—
Total						—	—	2,223

(*)	The percentages presented correspond to the ownership used in the consolidation of the company.

8.2Assets, liabilities, revenue and expenses from joint ventures

The information disclosed reflects the amounts presented in the financial statements of the relevant joint ventures and not the Company's share of those amounts.


	As of December 31, 2022				For the year ended December 31, 2022
	Assets		Liabilities				Other
							comprehensive	Comprehensive
Joint Venture	Current	Non-current	Current	Non-current	Revenue	Net income (loss)	income	income
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
SQM Vitas Fzco. (*)	9,618	—	49	—	—	165	—	165
SQM Vitas Brasil Agroindustria (*)	73,045	6,111	45,894	—	162,026	11,670	602	12,272
SQM Vitas Perú S.A.C. (*)	59,196	7,285	49,596	117	61,387	4,586	—	4,586
Pavoni & C. Spa (*)	11,516	6,358	8,853	802	18,066	939	(344)	595
Covalent Lithium Pty Ltd.	2,077	3,088	7,062	3,017	—	(2,648)	—	(2,648)
Total	155,452	22,842	111,454	3,936	241,479	14,712	258	14,970


	As of December 31, 2021				For the year ended December 31, 2021
	Assets		Liabilities				Other
							comprehensive	Comprehensive
Joint Venture	Current	Non-current	Current	Non-current	Revenue	Net income (loss)	income	income
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
SQM Vitas Fzco.	9,606	—	215	—	—	159	—	159
SQM Vitas Brasil Agroindustria	73,500	4,846	68,794	—	103,335	9,165	(858)	8,307
SQM Vitas Perú S.A.C.	28,610	7,347	24,473	828	48,128	3,289	—	3,289
Pavoni & C. Spa	12,885	6,714	11,226	725	19,599	347	(634)	(287)
Covalent Lithium Pty Ltd.	3,904	2,636	7,498	1,489	—	(864)	74	(790)
Total	128,505	21,543	112,206	3,042	171,062	12,096	(1,418)	10,678


	As of December 31, 2020				For the year ended December 31, 2020
	Assets		Liabilities				Other
							comprehensive	Comprehensive
Joint Venture	Current	Non-current	Current	Non-current	Revenue	Net income (loss)	income	income
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
Sichuan SQM Migao Chemical Fertilizers Co Ltd.	29,507	4,412	14,156	—	9	(562)	—	(562)
SQM Vitas Fzco.	(496)	20,431	496	—	—	4,019	—	4,019
SQM Vitas Brasil Agroindustria	40,064	5,527	33,410	—	78,960	2,036	(2,938)	(902)
SQM Vitas Perú S.A.C.	34,548	7,928	33,145	1,080	37,591	1,319	—	1,319
Pavoni & C. Spa	10,645	7,493	9,270	836	15,958	16	698	714
Covalent Lithium Pty Ltd.	1,418	2,131	2,823	910	—	(232)	33	(199)
Total	115,686	47,922	93,300	2,826	132,518	6,596	(2,207)	4,389

8.3Other joint venture disclosures


	Cash and cash equivalents		Other current financial liabilities		Other non-current financial liabilities
	As of	As of	As of	As of	As of	As of
	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,
Joint Venture	2022	2021	2022	2021	2022	2021
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
SQM Vitas Fzco.	3,866	4,115	9,753	—	—	—
SQM Vitas Brasil Agroindustria	3,820	4,132	82	10,416	—	—
SQM Vitas Perú S.A.C.	2,208	380	4,951	238	117	289
Pavoni & C. Spa	1,088	787	494	7,561	—	—
Covalent Lithium Pty Ltd.	1,931	3,858	—	980	—	—
Total	12,913	13,272	15,280	19,195	117	289


	Depreciation and amortization expense		Interest expense		Income tax benefit (expense)
	for the year ending		for the year ending		for the year ending
	As of	As of	As of	As of	As of	As of
	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,
Joint Venture	2022	2021	2022	2021	2022	2021
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
SQM Vitas Fzco.	—	—	(1)	(1)	—	—
SQM Vitas Brasil Agroindustria	(331)	(278)	(333)	(367)	(3,164)	(1,985)
SQM Vitas Perú S.A.C.	(360)	(354)	(298)	(311)	(2,370)	(1,692)
Pavoni & C. Spa	(183)	(245)	(347)	(459)	(459)	(173)
Covalent Lithium Pty Ltd.	(176)	(167)	(40)	(55)	1,094	343
Total	(1,050)	(1,044)	(1,019)	(1,193)	(4,899)	(3,507)

8.4Disclosure of interests in joint ventures

a)	Transactions in the year 2022

●

As of December 31, 2022, there are no transactions to disclose.

b)	Transactions in the year 2021

●

On February 9, 2021, two of the Company’s subsidiaries signed an agreement to terminate a dispute related to sales contracts and interest in the joint venture of Sichuan SQM Migao Chemical Fertilizers Co Ltd. Consequently, the Company received a US$ 11.5 million compensation.

c)	Transactions in the year 2020

●

SQM Vitas BV became a wholly owned subsidiary of the Company during the second quarter of 2020, through its subsidiary Soquimich European Holdings, at a cost of ThUS$ 1,276 and its name has been changed to SQM Holland. See Note 7.1.

●

In the second quarter of 2020, shares held in Arpa Speciali S.R.L. were sold through SQM Pavoni & C., SpA. At a value of ThUS$ 56, which brought about a loss of ThUS$ 125. An initial installment of ThUS$ 17 was charged, leaving two pending installments of ThUS$ 20 maturing June 30, 2021 and June 30, 2022. The pending installments are classified as other accounts receivable.

●

In the third quarter of 2020, shares held in Coromandel SQM India were sold through Soquimich European Holdings B.V. at a value of ThUS$ 1,604, which brought about a loss of ThUS$ 643.

●

During fourth quarter of 2020, the shares in SQM Qingdao-Star Co, Ltd. were sold through SQM Industrial S.A. for ThUS$ 1,303, which brought about a gain of ThUS$ 62. As of December 31, 2020, the sale proceeds were recorded in other receivables.

●

A gain amounting ThUS$ 7,036 relating to the reversal of the impairment associated with the investment in Sichuan SQM Migao Chemical Fertilizers Co Ltd. was recognized in Other gains (losses) as a result of the agreement made to end a dispute, described above.

8.5Joint Operations

In 2017, together with our subsidiary SQM Australia Pty, we entered into an agreement to acquire 50% of the assets of the Mt Holland lithium project in Western Australia. The Mt Holland lithium project is to design, construct and operate a mine, concentrator and refinery to produce lithium hydroxide.

On February 17, 2021, the Board of Directors approved the investment in the Mount Holland lithium project in Western Australia. SQM's share of the project investment is expected to be approximately US$700 million, between 2021 and

2025. The feasibility study confirms an expected initial production capacity of 50,000 metric tons of lithium hydroxide during the second half of 2024.

As of December 31, 2022, a total of US$475 million has been contributed to Mt. Holland. Lithium project The revised investment budget for this project considers a pending investment balance of US$450 million.

Financial instruments - Derivative Financial Instruments (Hedges) Measured at Fair Value (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Financial instruments [Line Items]
Hedging assets	$ 33,794	$ 14,124
Hedging liabilities	68,342	83,526
Effect on profit or loss for the period derivative instruments	25,714	(17,761)
Hedging reserve in equity before tax	(19,967)	(46,529)
Debt \| Cross currency swap contracts
Financial instruments [Line Items]
Hedging assets	22,481	12,870
Hedging liabilities	62,526	81,854
Effect on profit or loss for the period derivative instruments	(12,939)	(22,455)
Hedging reserve in equity before tax	(27,106)	(46,529)
Debt \| Cross currency swap contracts \| Short Term
Financial instruments [Line Items]
Hedging assets	7,014	12,625
Hedging liabilities	42,754	8,954
Debt \| Cross currency swap contracts \| Long Term
Financial instruments [Line Items]
Hedging assets	15,467	245
Hedging liabilities	19,772	72,900
Investment
Financial instruments [Line Items]
Hedging assets	29,620
Hedging liabilities	62,526
Effect on profit or loss for the period derivative instruments	(12,939)
Hedging reserve in equity before tax	(19,967)
Investment \| Forward contract
Financial instruments [Line Items]
Hedging assets	7,139	1,254
Hedging liabilities		1,672
Effect on profit or loss for the period derivative instruments		4,694
Hedging reserve in equity before tax	7,139	0
Investment \| Forward contract \| Short Term
Financial instruments [Line Items]
Hedging assets		1,254
Hedging liabilities		$ 1,672
Investment \| Forward contract \| Long Term
Financial instruments [Line Items]
Hedging assets	7,139
Hedging reserve in equity before tax	7,139
Investment \| Forwards/Options
Financial instruments [Line Items]
Hedging assets	4,174
Hedging liabilities	5,816
Effect on profit or loss for the period derivative instruments	38,653
Hedging reserve in equity before tax	0
Investment \| Forwards/Options \| Short Term
Financial instruments [Line Items]
Hedging assets	4,174
Hedging liabilities	5,816
Hedging reserve in equity before tax	$ 0

Disclosures on equity - Dividends Discounted from Equity (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of Disclosures on equity [Line Items]
Dividends discounted from equity for the period	$ 2,211,598	$ 597,861	$ 159,473
Parent
Disclosure of Disclosures on equity [Line Items]
Interim dividend	2,204,229	157,774	44,986
Special dividend	0	399,998	100,000
Dividends payable	0	27,681	4,369
Owners of the Parent	2,204,229	585,453	149,355
Non-controlling interests
Disclosure of Disclosures on equity [Line Items]
Special dividend	0	5,904	5,904
Dividends according to policy	7,369	6,504	4,214
Non-controlling interests	$ 7,369	$ 12,408	$ 10,118

Financial risk management - Narrative (Details)	3 Months Ended	12 Months Ended
Financial risk management - Narrative (Details)	Dec. 31, 2021 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Financial risk management [Line Items]
Derivatives designated as fair value hedges liability	$ 83,660,000	$ 73,870,000	$ 83,660,000
Percentage of insurance covers on risk		80.00%
Hedging instrument, assets	14,124,000	$ 33,794,000	$ 14,124,000
Liquidity ratio		2.29	4.76
Credit facility
Financial risk management [Line Items]
Undrawn borrowing facilities		$ 694,000,000
Working capital
Financial risk management [Line Items]
Undrawn borrowing facilities		100,000,000
Liquidity risk
Financial risk management [Line Items]
Hedging instrument, assets	549,239,000	$ 512,236,000	$ 549,239,000
Libor
Financial risk management [Line Items]
Percentage of Financial Liabilities Maturing in Next 12 Months		7.00%
SOFR
Financial risk management [Line Items]
Percentage of Financial Liabilities Maturing in Next 12 Months		2.50%
CLP to US Dollar
Financial risk management [Line Items]
Derivative instruments designated as fair value hedges assets		$ 87,000,000.00
Euro to US Dollar
Financial risk management [Line Items]
Derivative instruments designated as fair value hedges assets		38,050,000.00
South African Rand to US Dollar
Financial risk management [Line Items]
Derivative instruments designated as fair value hedges assets		46,840,000
Chinese Renminbi to US Dollar
Financial risk management [Line Items]
Derivative instruments designated as fair value hedges assets		333,190,000
Australian Dollar to US Dollar
Financial risk management [Line Items]
Derivative instruments designated as fair value hedges assets		51,290,000
Other countries currencies
Financial risk management [Line Items]
Derivative instruments designated as fair value hedges assets		$ 7,300,000
CHILE
Financial risk management [Line Items]
Average foreign exchange rate		100
Derivatives
Financial risk management [Line Items]
Financial assets, at fair value	81,600,000	$ 11,730,000	81,600,000
Adjustments for unrealised foreign exchange losses (gains)	644,000,000
Derivatives \| Interest rate hedging
Financial risk management [Line Items]
Financial assets, at fair value		$ 1,666,000
Derivative financial instruments percentage of obligations covered		100.00%
Derivatives \| Cash flow hedge
Financial risk management [Line Items]
Derivative instruments designated as fair value hedges assets		$ 7,140,000
Derivatives \| Derivative instruments associated with nominative term deposits \| Hedges of foreign exchange risks
Financial risk management [Line Items]
Derivative instruments designated as fair value hedges assets	$ 12,610,000	$ 29,980,000	$ 12,610,000
Percentage of foreign exchange risk associated with nominative term deposits		100.00%

Inventories - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
Inventories - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Inventories
Current materials and supplies to be consumed in production process or rendering services	$ 513,209	$ 458,913
Cost of inventories recognised as expense during period	104,057	75,892
Products in progress	122,284	111,316
Finished product	$ 198,796	$ 99,551

Significant accounting policies - Minimum Dividend (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Minimum
Significant accounting policies [Line Items]
Cash dividend rate	30.00%	30.00%

Identification and activities of the Company and Subsidiaries

12 Months Ended

Dec. 31, 2022

Identification and activities of the Company and Subsidiaries

Identification and activities of the Company and Subsidiaries

Note 1Identification and activities of the Company and Subsidiaries

1.1Historical background

Sociedad Química y Minera de Chile S.A. (the “Company” or “SQM”) is an open stock corporation organized under the laws of the Republic of Chile and its Chilean Tax Identification Number is 93.007.000-9.

The Company was incorporated through a public deed dated June 17, 1968 by the public notary of Santiago Mr. Sergio Rodríguez Garcés. Its existence was approved by Decree No. 1,164 of June 22, 1968 of the Ministry of Finance, and it was registered on June 29, 1968 in the Registry of Commerce of Santiago, on page 4,537 No. 1,992. SQM’s headquarters are located at El Trovador 4285, Floor 6, Las Condes, Santiago, Chile, The Company’s telephone number is +(56 2) 2425-2000.

The Company is registered in the CMF under number 184 of March 18, 1983 and is therefore subject to oversight by that entity.

1.2Main domicile where the Company performs its production activities

The Company’s main domiciles are: Calle Dos Sur plot No. 5 - Antofagasta; Arturo Prat 1060 - Tocopilla; Administration Building w/n - Maria Elena; Administration Building w/n Pedro de Valdivia - María Elena, Anibal Pinto 3228 - Antofagasta, Kilometer 1378 Ruta 5 Norte Highway - Antofagasta, Coya Sur Plant w/n - Maria Elena, kilometer 1760 Ruta 5 Norte Highway - Pozo Almonte, Salar de Atacama (Atacama Saltpeter deposit) potassium chloride plant w/n - San Pedro de Atacama, potassium sulfate plant at Salar de Atacama w/n – San Pedro de Atacama, Minsal Mining Camp w/n CL Plant CL, Potassium– San Pedro de Atacama, formerly the Iris Saltpeter office w/n, Commune of Pozo Almonte, Iquique, Level 1 and 225 Dt Georges Tce Perth WA 6000, Australia.

1.3Codes of main activities

The codes of the main activities as established by the CMF, as follows:

●

1700 (Mining)

●

2200 (Chemical products)

●

1300 (Investment)

1.4Description of the nature of operations and main activities

The products of the Company are mainly derived from mineral deposits found in northern Chile where mining takes place and caliche and brine deposits are processed.

(a)

Specialty plant nutrition: Four main types of specialty plant nutrients are produced: potassium nitrate, sodium nitrate, sodium potassium nitrate and specialty blends. In addition, other specialty fertilizers are sold including third party products.

(b)

Iodine: The Company produces iodine and iodine derivatives, which are used in a wide range of medical, pharmaceutical, agricultural and industrial applications, including x-ray contrast media, polarizing films for LCD and LED, antiseptics, biocides and disinfectants, in the synthesis of pharmaceuticals, electronics, pigments and dye components.

(c)

Lithium: The Company produces lithium carbonate, which is used in a variety of applications, including electrochemical materials for batteries, frits for the ceramic and enamel industries, and it is an important ingredient in the manufacture of gunpowder, heat-resistant glass (ceramic glass), air conditioning chemicals, continuous casting powder for steel extrusion, primary aluminum smelting process, pharmaceuticals and lithium derivatives. We are also a leading supplier of lithium hydroxide, which is primarily used as an input for the lubricating greases industry and for certain cathodes for batteries.

(d)

Industrial chemicals: The Company produces three industrial chemicals: sodium nitrate, potassium nitrate and potassium chloride. Sodium nitrate is used primarily in the production of glass, explosives, and metal treatment. Potassium nitrate is used in the manufacturing of specialty glass, and it is also an important raw material to produce of frits for the ceramics and enamel industries. Solar salts, a combination of potassium nitrate and sodium nitrate, are used as a thermal storage medium in concentrated solar power plants. Potassium chloride is a basic chemical used to produce potassium hydroxide, and it is also used oil drilling, and to produce carrageenan.

(e)

Potassium: The Company produces potassium chloride and potassium sulfate from brines extracted from the Salar de Atacama. Potassium chloride is a commodity fertilizer used to fertilize a variety of crops including corn, rice, sugar, soybean and wheat. Potassium sulfate is a specialty fertilizer used mainly in crops such as vegetables, fruits and industrial crops.

(f)

Other products and services: The Company also sells other fertilizers and blends, some of which we do not produce, mainly potassium nitrate, potassium sulfate and potassium chloride. This business line also includes revenue from commodities, services, interests, royalties and dividends.

1.5Other background

(a)	Employees

As of December 31, 2022, and 2021, the workforce was as follows:


	As of December 31, 2022			As of December 31, 2021
		Other			Other
Employees	SQM S.A.	subsidiaries	Total	SQM S.A.	subsidiaries	Total
Executives	32	128	160	33	103	136
Professionals	177	2,506	2,683	117	1,639	1,756
Technicians and operators	309	3,845	4,154	275	3,914	4,189
Overall total	518	6,479	6,997	425	5,656	6,081

As of December 31, 2022

As of December 31, 2021

Other

Place of work

SQM S.A.

subsidiaries

Total

SQM S.A.

subsidiaries

Total

In Chile

518

6,015

6,533

425

5,246

5,671

Outside Chile

—

464

—

410

Overall total

518

6,479

6,997

425

5,656

6,081

(b)Main shareholders

As of December 31, 2022, there were 1,157 shareholders.

The following table shows information about the main shareholders of the Company’s Series A or Series B shares in circulation as of December 31, 2022 and 2021, in line with information provided by the DCV, with respect to each shareholder that, to our knowledge, owns more than 5% of the outstanding Series A or Series B shares. The following

information is derived from our registry and reports managed by the DCV and informed to the CMF and the Chilean Stock Exchange:


		% of Series A			% of Series B		% of total
Shareholders as of December 31, 2022	No. of Series A	shares		No. of Series B	shares		shares
The Bank of New York Mellon, ADRs	—	—		64,555,045	45.20	%	22.60	%
Inversiones TLC SpA (1)	62,556,568	43.80	%	—	—		21.90	%
Sociedad de Inversiones Pampa Calichera S.A. (2)	43,133,789	30.20	%	1,611,227	1.13	%	15.66	%
Potasios de Chile S.A.	18,179,147	12.73	%	—	—		6.36	%
Banco de Chile via State Street	79,265	0.06	%	10,979,388	7.69	%	3.87	%
AF Habitad S.A.	—	—		9,504,885	6.66	%	3.33	%
Inv. Global Mining (Chile) Ltda.	8,798,539	6.16	%	—	—		3.08	%
Banco Santander via foreign investor accounts	545,729	0.38	%	8,181,775	5.73	%	3.06	%
AFP Cuprum S.A.	—	—		6,535,039	4.58	%	2.29	%
Banco de Chile non-resident third party accounts	62,829	0.04	%	6,181,476	4.33	%	2.19	%
AF Capital S.A.	—	—		5,652,982	3.96	%	1.98	%
AFP Provida S.A.	—	—		5,263,361	3.69	%	1.84	%


		% of Series A			% of Series B		% of total
Shareholders as of December 31, 2021	No. of Series A	shares		No. of Series B	shares		shares
Inversiones TLC SpA (1)	62,556,568	43.80	%	—	—		21.90	%
The Bank of New York Mellon, ADRs	—	—		67,603,420	47.34	%	23.67	%
Sociedad de Inversiones Pampa Calichera S.A. (2)	44,989,231	31.50	%	—	—		15.75	%
Potasios de Chile S.A.	18,179,147	12.73	%	—	—		6.36	%
Inversiones Global Mining (Chile) Limitada	8,798,539	6.16	%	—	—		3.08	%
Banco de Chile via State Street	23,428	0.02	%	9,178,379	6.43	%	3.22	%
Banco Santander via foreign investor accounts	—	—		8,856,091	6.20	%	3.10	%
Banco de Chile non-resident third party accounts	445	—		7,939,865	5.56	%	2.78	%
Bando de Chile vi a Citi NA New York Clients	67,463	0.05	%	4,795,310	3.36	%	1.70	%
Inversiones la Esperanza de Chile Limitada	4,246,226	2.97	%	—	—		1.49	%
Larraín Vial S.A. Corredora de Bolsa	125,726	0.09	%	3,653,614	2.56	%	1.32	%
AFP Habitat S.A. for Pension Fund C	—	—		2,914,292	2.04	%	1.02	%

(1)

As reported by DCV, which records the Company’s shareholders’ register as of December 31, 2022 and 2021 Inversiones TLC SpA, a subsidiary wholly owned by Tianqi Lithium Corporation, is the direct owner of 62,556,568 Series A shares of the Company equivalent to 21.90% of SQM’s shares. Tianqi Lithium Corporation it owns 748,490 Series B shares as reported by Inversiones TLC SpA. So as of December 31, 2022, Tianqi Lithium Corporation owns 22.16% of all SQM shares through Series A shares and ADSs representing Series B shares. As of December 31, 2021, Tianqi Lithium Corporation directly and indirectly held 23.75% of all SQM shares through Series A shares and ADSs representing Series B shares.

(2)

As of December 31, 2021, Sociedad de Inversiones Pampa Calichera S.A. has 47,480,196 Series A and B shares; 2,490,965 Series B shares are held by different brokers. As of December 31, 2022, the Sociedad de Inversiones Pampa Calichera S.A. had 46,600,458 series A shares, although 1,855,442 of these shares were held in custody by stockbrokers.

1.6Capital stock increase

On April 28, 2021, the Company completed a US$1.1 billion capital stock increase. The capital stock increase was approved at an extraordinary shareholders’ meeting held by the Company on January 22, 2021. It included a mandatory 30-day pre-emptive rights offering, under Chilean law, to existing holders of the Company’s Series B common stock and a corresponding pre-emptive rights offering to existing holders of American Depositary Shares (ADSs). Existing shareholders received transferable share rights to subscribe for shares of Series B common stock at a subscription price of US$50 per share and the share rights were traded in Chile on the Santiago Stock Exchange and the Electronic Stock Exchange. Existing ADS holders received transferable ADS rights to subscribe for ADSs at a subscription price of US$50 per ADS and the ADS rights were traded in the U.S. on the New York Stock Exchange. The pre-emptive rights offerings ended on April 24, 2021 with respect to the share rights in Chile and on April 19, 2021 with respect to the ADS rights in the U.S. Of the 22,441,932 new Series B shares offered in the pre-emptive rights offerings, a total of 21,687,549 Series B shares (including shares in the form of ADSs), i.e. almost 97% of the Serie B shares offered, were subscribed in the

preemptive rights offerings. The remaining 754,383 Series B shares that were not subscribed for in the pre-emptive rights offerings were offered and placed in auctions conducted through the Santiago Stock Exchange to investors in Chile and outside Chile (including in the United States) on April 28, 2021, at an average price of approximately US$54 per share.

As of April 28, 2021, contributed capital is US$1.1 billion net of expenses for ThUS 24,503.

Effect of fluctuations in foreign currency exchange rates (Tables)

12 Months Ended

Dec. 31, 2022

Effect of fluctuations in foreign currency exchange rates

Schedule of reserves for foreign currency exchange differences


	As of	As of	As of
	December 31,	December 31,	December 31,
Details	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Changes in equity generated by the equity method value through conversion:
Comercial Hydro S.A.	1,004	1,004	1,004
SQMC Internacional Ltda.	(9)	(9)	(9)
Proinsa Ltda.	(10)	(10)	(10)
Comercial Agrorama Ltda.	175	155	(19)
Isapre Norte Grande Ltda.	(130)	(121)	(14)
Almacenes y Depósitos Ltda.	568	305	211
Sacal S.A.	(3)	(3)	(3)
Sociedad Prestadora de Servicios de Salud Cruz del Norte S.A.	(38)	(36)	(13)
Agrorama S.A.	666	628	92
SQM Vitas Fzco	(3,614)	(4,165)	(3,736)
Ajay Europe	(1,911)	(1,413)	(693)
SQM Oceanía Pty Ltd.	(579)	(579)	(579)
SQM Indonesia S.A.	(124)	(124)	(124)
Abu Dhabi Fertillizers Industries WWL.	—	372	372
SQM Holland B.V.	99	99	99
SQM Thailand Limited	(68)	(68)	(68)
SQM Europe	(1,983)	(1,983)	(1,983)
SQM Australia Pty Ltd.	(1,642)	(1,732)	(4,052)
Pavoni & C. Spa	(363)	(153)	164
Kore Potash PLC (a)	—	—	(2,128)
SQM Colombia S.A.S.	(80)	(80)	(80)
Total	(8,042)	(7,913)	(11,569)

Right-of-use assets and Lease liabilities - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Right-of-use assets and Lease liabilities
Total lease expenses	$ 78,880	$ 71,897	$ 61,689
Expense relating to variable lease payments not included in measurement of lease liabilities	3,631	1,313	1,117
Income from subleasing right-of-use assets	$ 142	$ 146	$ 176

Financial instruments - Derivative Contract Maturities (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Series H bonds
Financial instruments [Line Items]
Contract amount	$ 105,828
Series O bonds
Financial instruments [Line Items]
Contract amount	58,748
Series P bonds
Financial instruments [Line Items]
Contract amount	134,228
Series Q bonds
Financial instruments [Line Items]
Contract amount	$ 106,933

Cash and cash equivalents (Tables)

12 Months Ended

Dec. 31, 2022

Cash and cash equivalents.

Schedule of cash and cash equivalents


	As of	As of
	December 31,	December 31,
Cash	2022	2021
	ThUS$	ThUS$
Cash on hand	43	44
Cash in banks	529,606	662,407
Total Cash	529,649	662,451


	As of	As of
	December 31,	December 31,
Cash equivalents	2022	2021
	ThUS$	ThUS$
Short-term deposits, classified as cash equivalents	1,099,441	237,655
Short-term investments, classified as cash equivalents	1,026,146	614,945
Total cash equivalents	2,125,587	852,600
Total cash and cash equivalents	2,655,236	1,515,051

Schedule of short-term investments


	As of	As of
	December 31,	December 31,
Institution	2022	2021
	ThUS$	ThUS$
Legg Mason - Western Asset Institutional Cash Reserves	590,661	233,648
JP Morgan US dollar Liquidity Fund Institutional	435,485	381,297
Total	1,026,146	614,945

Schedule of restricted cash balances


	As of	As of
	December 31,	December 31,
Restricted cash balances	2022	2021
	ThUS$	ThUS$
Isapre Norte Grande Ltda.	717	622
Total	717	622

Schedule of detailed information about short-term deposits

The detail at the end of each balance date is as follows:


		Original						Interest	As of
Receiver of the deposit	Type of deposit	Currency	Interest Rate		Placement date	Expiration date	Principal	accrued to-date	December 31, 2022
							ThUS$	ThUS$	ThUS$
Banco Crédito e Inversiones	Fixed term	Peso	0.95	%	11-17-2022	01-25-2023	42,998	609	43,607
Banco Crédito e Inversiones	Fixed term	Peso	0.94	%	12-15-2022	01-25-2023	100,817	537	101,354
Itau Corpbanca	Fixed term	Peso	0.96	%	12-06-2022	01-05-2023	41,421	343	41,764
Itau Corpbanca	Fixed term	Peso	0.96	%	12-12-2022	01-25-2023	100,660	644	101,304
Itau Corpbanca	Fixed term	Peso	0.95	%	11-17-2022	01-25-2023	32,248	458	32,706
Itau Corpbanca	Fixed term	Peso	0.95	%	11-16-2022	01-25-2023	73,831	1,070	74,901
Itau Corpbanca	Fixed term	Peso	0.96	%	12-13-2022	01-25-2023	30,146	183	30,329
Santander	Fixed term	Peso	0.95	%	12-16-2022	01-25-2023	103,288	523	103,811
Santander	Fixed term	Peso	0.94	%	12-06-2022	01-05-2023	20,710	168	20,878
Scotiabank Sud Americano	Fixed term	Peso	0.96	%	12-12-2022	01-25-2023	50,330	322	50,652
Scotiabank Sud Americano	Fixed term	Peso	0.98	%	12-13-2022	01-25-2023	100,487	621	101,108
Scotiabank Sud Americano	Fixed term	Peso	0.96	%	12-13-2022	01-25-2023	70,341	428	70,769
Scotiabank Sud Americano	Fixed term	Peso	0.97	%	12-14-2022	01-25-2023	100,258	584	100,842
Scotiabank Sud Americano	Fixed term	Dollar	4.54	%	11-21-2022	01-25-2023	82,000	424	82,424
Sumitomo Mitsui Banking	Fixed term	Dollar	4.54	%	11-21-2022	01-25-2023	122,000	631	122,631
Banco Crédito e Inversiones	Fixed term	Dollar	0.42	%	12-06-2022	01-06-2023	2,000	7	2,007
Banco Crédito e Inversiones	Fixed term	Dollar	0.44	%	12-01-2022	01-03-2023	1,500	6	1,506
Banco Crédito e Inversiones	Fixed term	Peso	0.22	%	12-30-2022	01-06-2023	2,103	1	2,104
Banco de Chile	Fixed term	Dollar	0.95	%	12-12-2022	02-14-2023	600	2	602
Itau Corpbanca	Fixed term	Dollar	1.02	%	12-13-2022	02-16-2023	500	2	502
Itau Corpbanca	Fixed term	Dollar	0.46	%	11-30-2022	01-03-2023	1,000	4	1,004
Itau Corpbanca	Fixed term	Dollar	0.42	%	12-06-2022	01-06-2023	700	2	702
Itau Corpbanca	Fixed term	Dollar	1.07	%	12-21-2022	02-27-2023	1,700	3	1,703
Scotiabank Sud Americano	Fixed term	Dollar	0.66	%	12-07-2022	01-27-2023	1,000	3	1,003
Scotiabank Sud Americano	Fixed term	Dollar	0.64	%	11-16-2022	01-03-2023	2,500	15	2,515
Scotiabank Sud Americano	Fixed term	Dollar	0.72	%	12-28-2022	02-13-2023	2,200	1	2,201
Scotiabank Sud Americano	Fixed term	Dollar	0.96	%	12-30-2022	03-03-2023	500	—	500
Scotiabank Sud Americano	Fixed term	Dollar	0.58	%	11-22-2022	01-03-2023	1,500	8	1,508
Scotiabank Sud Americano	Fixed term	Dollar	0.38	%	12-16-2022	01-13-2023	1,500	3	1,503
Scotiabank Sud Americano	Fixed term	Dollar	0.87	%	12-22-2022	02-16-2023	1,000	1	1,001
Total							1,091,838	7,603	1,099,441


									As of
		Original						Interest	December 31,
Receiver of the deposit	Type of deposit	Currency	Interest Rate		Placement date	Expiration date	Principal	accrued to-date	2021
							ThUS$	ThUS$	ThUS$
Credit Suisse	Fixed term	Dollar	0.58	%	11-30-2021	02-28-2022	200,000	100	200,100
Banco BCI	Fixed term	Dollar	0.31	%	12-24-2021	02-28-2022	1,250	—	1,250
Banco BCI	Fixed term	Dollar	0.36	%	12-07-2021	01-14-2022	8,000	2	8,002
Banco BCI	Fixed term	Dollar	0.28	%	12-30-2021	01-14-2022	500	—	500
Banco Santander	Fixed term	Dollar	3.12	%	12-30-2021	01-06-2022	3,550	2	3,552
Banco Santander	Fixed term	Dollar	0.26	%	12-16-2021	01-31-2022	2,500	—	2,500
Banco Santander	Fixed term	Dollar	0.40	%	12-27-2021	03-04-2022	1,500	—	1,500
Banco Santander	Fixed term	Dollar	0.40	%	12-29-2021	01-27-2022	1,500	—	1,500
Banco Itaú Corpbanca	Fixed term	Dollar	0.30	%	12-14-2021	01-07-2022	5,000	1	5,001
Banco Itaú Corpbanca	Fixed term	Dollar	0.37	%	12-28-2021	01-24-2022	1,000	—	1,000
Banco Itaú Corpbanca	Fixed term	Dollar	0.34	%	12-07-2021	01-28-2022	2,000	—	2,000
Scotiabank Sud Americano	Fixed term	Dollar	0.27	%	12-24-2021	02-28-2022	2,750	—	2,750
Scotiabank Sud Americano	Fixed term	Dollar	0.06	%	12-17-2021	01-31-2022	3,000	—	3,000
Scotiabank Sud Americano	Fixed term	Dollar	0.07	%	12-03-2021	01-18-2022	5,000	—	5,000
Total							237,550	105	237,655

Significant accounting policies - Useful Lives of Intangible Assets (Details)	12 Months Ended
	Dec. 31, 2022
Minimum
Significant accounting policies [Line Items]
Description of useful life, intangible assets other than goodwill	Unit-production method
Maximum
Significant accounting policies [Line Items]
Description of useful life, intangible assets other than goodwill	Unit-production method
Water rights \| Minimum
Significant accounting policies [Line Items]
Useful life measured as period of time, intangible assets other than goodwill	5 years
Water rights \| Maximum
Significant accounting policies [Line Items]
Description of useful life, intangible assets other than goodwill	Indefinite
Rights of way \| Minimum
Significant accounting policies [Line Items]
Description of useful life, intangible assets other than goodwill	Indefinite
Rights of way \| Maximum
Significant accounting policies [Line Items]
Description of useful life, intangible assets other than goodwill	Indefinite
Corfo Mining properties \| Minimum
Significant accounting policies [Line Items]
Useful life measured as period of time, intangible assets other than goodwill	8 years
Corfo Mining properties \| Maximum
Significant accounting policies [Line Items]
Useful life measured as period of time, intangible assets other than goodwill	8 years
Intellectual property \| Minimum
Significant accounting policies [Line Items]
Useful life measured as period of time, intangible assets other than goodwill	9 years
Intellectual property \| Maximum
Significant accounting policies [Line Items]
Useful life measured as period of time, intangible assets other than goodwill	9 years
IT programs \| Minimum
Significant accounting policies [Line Items]
Useful life measured as period of time, intangible assets other than goodwill	3 years
IT programs \| Maximum
Significant accounting policies [Line Items]
Useful life measured as period of time, intangible assets other than goodwill	9 years

Financial instruments - Reconciliation of Asset and Liability Hedging Derivatives (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Hedge-to-debt derivatives
Disclosure of detailed information about hedging instruments [line items]
Hedging derivative, beginning	$ (81,597)	$ 18,070
Hedging derivative, ending	(10,061)	(81,597)
Hedging derivatives to investment
Disclosure of detailed information about hedging instruments [line items]
Hedging derivative, beginning	12,613	(21,004)
Hedging derivative, ending	(29,984)	12,613
Non-hedging derivatives disbursement SQM Australia Pty
Disclosure of detailed information about hedging instruments [line items]
Hedging derivative, ending	7,139
Non-hedging derivatives
Disclosure of detailed information about hedging instruments [line items]
Hedging derivative, beginning	(418)	(2,784)
Hedging derivative, ending	(1,643)	(418)
Cash Flow \| Hedge-to-debt derivatives
Disclosure of detailed information about hedging instruments [line items]
Gain (loss) on hedging derivatives	8,616	6,478
Cash Flow \| Hedging derivatives to investment
Disclosure of detailed information about hedging instruments [line items]
Gain (loss) on hedging derivatives	(52,698)	9,405
Cash Flow \| Non-hedging derivatives disbursement SQM Australia Pty
Disclosure of detailed information about hedging instruments [line items]
Gain (loss) on hedging derivatives	2,022
Cash Flow \| Non-hedging derivatives
Disclosure of detailed information about hedging instruments [line items]
Gain (loss) on hedging derivatives	(39,878)	(2,327)
Income Statement \| Hedge-to-debt derivatives
Disclosure of detailed information about hedging instruments [line items]
Gain (loss) on hedging derivatives	37,494	(52,254)
Income Statement \| Hedging derivatives to investment
Disclosure of detailed information about hedging instruments [line items]
Gain (loss) on hedging derivatives	16,104	23,083
Income Statement \| Non-hedging derivatives
Disclosure of detailed information about hedging instruments [line items]
Gain (loss) on hedging derivatives	38,653	4,693
Equity and Others \| Hedge-to-debt derivatives
Disclosure of detailed information about hedging instruments [line items]
Gain (loss) on hedging derivatives	25,426	(53,891)
Equity and Others \| Hedging derivatives to investment
Disclosure of detailed information about hedging instruments [line items]
Gain (loss) on hedging derivatives	(6,003)	$ 1,129
Equity and Others \| Non-hedging derivatives disbursement SQM Australia Pty
Disclosure of detailed information about hedging instruments [line items]
Gain (loss) on hedging derivatives	$ 5,117

Employee benefits - Sensitivity Analysis of Actuarial Assumptions (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Actuarial assumption of discount rates
Employee benefits [Line Items]
Increase in actuarial assumption	$ (2,090)	$ (1,614)	$ (1,985)
Decrease in actuarial assumption	2,352	1,817	2,234
Actuarial assumption of employee turnover rate
Employee benefits [Line Items]
Increase in actuarial assumption	(274)	(212)	(261)
Decrease in actuarial assumption	$ 307	$ 237	$ 291

Intangible assets and goodwill - Movements in Identifiable Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Intangible Assets And Goodwill [Line Items]
Opening balance	$ 214,254	$ 214,254
Additions	1,504	649
Amortization for the year	(13,845)	(8,374)
Impairment losses recognized in profit or loss for the year	(34,857)	(478)
Other increases / decreases for foreign currency exchange rates	(159)	2,256
Decrease for classification as held for sale	0
Transferred from available for sale	0	16
Other increases (decreases)	406	(188)
Subtotal	(46,951)	(6,119)
Closing balance	167,303	214,254
Gross carrying amount
Disclosure Of Intangible Assets And Goodwill [Line Items]
Opening balance	273,484
Closing balance	240,378	273,484
Accumulated depreciation and amortization
Disclosure Of Intangible Assets And Goodwill [Line Items]
Opening balance	(59,230)
Closing balance	(73,075)	(59,230)
Indeifinite intangible assets \| Goodwill
Disclosure Of Intangible Assets And Goodwill [Line Items]
Opening balance	34,596	34,596
Additions	0
Impairment losses recognized in profit or loss for the year	(33,629)
Other increases / decreases for foreign currency exchange rates	0
Decrease for classification as held for sale	0
Transferred from available for sale	0
Other increases (decreases)	0	(7,370)
Subtotal	(33,629)	(7,370)
Closing balance	967	34,596
Indeifinite intangible assets \| Gross carrying amount \| Goodwill
Disclosure Of Intangible Assets And Goodwill [Line Items]
Opening balance	38,130
Closing balance	4,501	38,130
Indeifinite intangible assets \| Accumulated depreciation and amortization \| Goodwill
Disclosure Of Intangible Assets And Goodwill [Line Items]
Opening balance	(3,534)
Closing balance	(3,534)	(3,534)
IT programs \| Finite intangible assets
Disclosure Of Intangible Assets And Goodwill [Line Items]
Opening balance	3,447	3,447
Additions	349	296
Amortization for the year	(1,039)	(1,716)
Impairment losses recognized in profit or loss for the year	0
Other increases / decreases for foreign currency exchange rates	(4)	(17)
Decrease for classification as held for sale	0
Transferred from available for sale	0
Other increases (decreases)	496	58
Subtotal	(198)	(1,379)
Closing balance	3,249	3,447
IT programs \| Gross carrying amount \| Finite intangible assets
Disclosure Of Intangible Assets And Goodwill [Line Items]
Opening balance	35,616
Closing balance	36,457	35,616
IT programs \| Accumulated depreciation and amortization \| Finite intangible assets
Disclosure Of Intangible Assets And Goodwill [Line Items]
Opening balance	(32,169)
Closing balance	(33,208)	(32,169)
Mining rights \| Finite intangible assets
Disclosure Of Intangible Assets And Goodwill [Line Items]
Opening balance	149,532	149,532
Additions	1,141	344
Amortization for the year	(8,482)	(2,863)
Impairment losses recognized in profit or loss for the year	(1,228)	(48)
Other increases / decreases for foreign currency exchange rates	0	2,283
Decrease for classification as held for sale	0
Transferred from available for sale	0	16
Other increases (decreases)	(90)	(246)
Subtotal	(8,659)	(514)
Closing balance	140,873	149,532
Mining rights \| Gross carrying amount \| Finite intangible assets
Disclosure Of Intangible Assets And Goodwill [Line Items]
Opening balance	162,893
Closing balance	162,716	162,893
Mining rights \| Accumulated depreciation and amortization \| Finite intangible assets
Disclosure Of Intangible Assets And Goodwill [Line Items]
Opening balance	(13,361)
Closing balance	(21,843)	(13,361)
Water rights and rights of way \| Indeifinite intangible assets
Disclosure Of Intangible Assets And Goodwill [Line Items]
Opening balance	4,909	4,909
Additions	0
Impairment losses recognized in profit or loss for the year	0	(430)
Other increases / decreases for foreign currency exchange rates	0	(4)
Decrease for classification as held for sale	0
Transferred from available for sale	0
Other increases (decreases)	0
Subtotal	0	(434)
Closing balance	4,909	4,909
Water rights and rights of way \| Indeifinite intangible assets \| Gross carrying amount
Disclosure Of Intangible Assets And Goodwill [Line Items]
Opening balance	7,420
Closing balance	7,420	7,420
Water rights and rights of way \| Indeifinite intangible assets \| Accumulated depreciation and amortization
Disclosure Of Intangible Assets And Goodwill [Line Items]
Opening balance	(2,511)
Closing balance	(2,511)	(2,511)
Water rights \| Finite intangible assets
Disclosure Of Intangible Assets And Goodwill [Line Items]
Opening balance	15,158	15,158
Additions	0
Amortization for the year	(3,789)	(2,842)
Impairment losses recognized in profit or loss for the year	0
Other increases / decreases for foreign currency exchange rates	0
Decrease for classification as held for sale	0
Transferred from available for sale	0
Other increases (decreases)	0
Subtotal	(3,789)	(2,842)
Closing balance	11,369	15,158
Water rights \| Gross carrying amount \| Finite intangible assets
Disclosure Of Intangible Assets And Goodwill [Line Items]
Opening balance	18,000
Closing balance	18,000	18,000
Water rights \| Accumulated depreciation and amortization \| Finite intangible assets
Disclosure Of Intangible Assets And Goodwill [Line Items]
Opening balance	(2,842)
Closing balance	(6,631)	(2,842)
Customer-related intangible assets \| Finite intangible assets
Disclosure Of Intangible Assets And Goodwill [Line Items]
Opening balance	0
Additions	0
Impairment losses recognized in profit or loss for the year	0
Other increases / decreases for foreign currency exchange rates	0
Decrease for classification as held for sale	0
Transferred from available for sale	0
Other increases (decreases)	0
Subtotal	0
Closing balance	0	0
Customer-related intangible assets \| Gross carrying amount \| Finite intangible assets
Disclosure Of Intangible Assets And Goodwill [Line Items]
Opening balance	1,778
Closing balance	1,778	1,778
Customer-related intangible assets \| Accumulated depreciation and amortization \| Finite intangible assets
Disclosure Of Intangible Assets And Goodwill [Line Items]
Opening balance	(1,778)
Closing balance	(1,778)	(1,778)
Intellectual property \| Finite intangible assets
Disclosure Of Intangible Assets And Goodwill [Line Items]
Opening balance	6,481	6,481
Additions	0
Amortization for the year	(476)	(889)
Impairment losses recognized in profit or loss for the year	0
Other increases / decreases for foreign currency exchange rates	(155)
Decrease for classification as held for sale	0
Transferred from available for sale	0
Other increases (decreases)	0	7,370
Subtotal	(631)	6,481
Closing balance	5,850	6,481
Intellectual property \| Gross carrying amount \| Finite intangible assets
Disclosure Of Intangible Assets And Goodwill [Line Items]
Opening balance	7,370
Closing balance	7,215	7,370
Intellectual property \| Accumulated depreciation and amortization \| Finite intangible assets
Disclosure Of Intangible Assets And Goodwill [Line Items]
Opening balance	(889)
Closing balance	(1,365)	(889)
Other intangible assets \| Finite intangible assets
Disclosure Of Intangible Assets And Goodwill [Line Items]
Opening balance	131	131
Additions	14	9
Amortization for the year	(59)	(64)
Impairment losses recognized in profit or loss for the year	0
Other increases / decreases for foreign currency exchange rates	0	(6)
Decrease for classification as held for sale	0
Transferred from available for sale	0
Other increases (decreases)	0
Subtotal	(45)	(61)
Closing balance	86	131
Other intangible assets \| Gross carrying amount \| Finite intangible assets
Disclosure Of Intangible Assets And Goodwill [Line Items]
Opening balance	2,277
Closing balance	2,291	2,277
Other intangible assets \| Accumulated depreciation and amortization \| Finite intangible assets
Disclosure Of Intangible Assets And Goodwill [Line Items]
Opening balance	(2,146)
Closing balance	$ (2,205)	$ (2,146)

Joint Ventures - Dividends Received (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement [Line Items]
Dividends received	$ 6,354	$ 11,663	$ 3,164
Sichuan SQM Migao Chemical Fertilizers Co Ltd.
Statement [Line Items]
Share of interest in ownership	50.00%
Dividends received	$ 0	0	0
SQM Vitas Fzco.
Statement [Line Items]
Share of interest in ownership	50.00%
Dividends received	$ 0	0	0
SQM Qinqdao Star Corp Nutrition Co. Ltd.
Statement [Line Items]
Share of interest in ownership	50.00%
Dividends received	$ 0	0	2,223
SQM Vitas Brasil Agroindustria
Statement [Line Items]
Share of interest in ownership	49.99%
Dividends received	$ 0	0	0
SQM Vitas Peru S.A.C.
Statement [Line Items]
Share of interest in ownership	50.00%
Dividends received	$ 0	0	0
Pavoni & C. Spa
Statement [Line Items]
Share of interest in ownership	50.00%
Dividends received	$ 0	0	0
Covalent Lithium Pty Ltd.
Statement [Line Items]
Share of interest in ownership	50.00%
Dividends received	$ 0	0	0
Dividends received
Statement [Line Items]
Dividends received	$ 0	$ 0	$ 2,223

Provisions and other non-financial liabilities - Other Current Provisions (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Disclosure of Provisions and other non-financial liabilities [Line Items]
Total	$ 1,303,146	$ 317,666
Other provisions
Disclosure of Provisions and other non-financial liabilities [Line Items]
Rent under Lease contract	1,189,326	260,889
Provision for additional tax related to foreign loans	1,085	1,027
End of agreement bonus	35,819	2,792
Directors' per diem allowance	4,250	3,938
Miscellaneous provisions	20,560	502
Total	$ 1,251,040	$ 269,148

Related party disclosures - Trade Receivables Due from Related Parties, Current (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Related party disclosures [Line Items]
Current receivables due from related parties	$ 81,622	$ 86,152
Ajay Europe SARL
Related party disclosures [Line Items]
Current receivables due from related parties	7,967	7,567
Ajay North America LLC
Related party disclosures [Line Items]
Current receivables due from related parties	8,354	3,350
Abu Dhabi Fertilizer Industries WWL
Related party disclosures [Line Items]
Current receivables due from related parties		2,477
Soc. de Inversiones Pampa Calichera
Related party disclosures [Line Items]
Current receivables due from related parties	5	5
SQM Vitas Brasil Agroindustria
Related party disclosures [Line Items]
Current receivables due from related parties	32,054	55,119
SQM Vitas Peru S.A.C.
Related party disclosures [Line Items]
Current receivables due from related parties	31,081	14,684
SQM Vitas Fzco.
Related party disclosures [Line Items]
Current receivables due from related parties	232	232
Pavoni & C SpA
Related party disclosures [Line Items]
Current receivables due from related parties	888	804
Covalent Lithium Pty Ltd.
Related party disclosures [Line Items]
Current receivables due from related parties	$ 1,041	$ 1,914

Other current and non-current non-financial assets - Movements in Assets for Exploration (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Other current and non-current non-financial assets
Opening balance	$ 26,752	$ 17,883	$ 18,654
Change in assets for exploration and evaluation of mineral resources
Additions	11,341	8,071
Short-term reclassifications	(465)	83	(526)
Increase (decrease) due to transfers and other charges	6,395	715	(245)
Total changes	17,271	8,869	(771)
Total	$ 44,023	$ 26,752	$ 17,883

Events occurred after the reporting date

12 Months Ended

Dec. 31, 2022

Events occurred after the reporting date

Events occurred after the reporting date

Note 26Events occurred after the reporting date

26.1 Authorization of the financial statements

The consolidated financial statements of the Company and its subsidiaries, prepared in accordance with IFRS for the year ended December 31, 2022, were approved and authorized for issuance by the Company´s Board of Directors on April 25, 2023, except for the impact of the revision discussed in Note 2.2.1 (b) which was approved by the Directors’ Committee of the Company on July 27, 2023.

26.2 Disclosures on events occurring after the reporting date

Management is not aware of any other significant events that occurred between December 31, 2022, and the date of issuance of these consolidated financial statements that may significantly affect them.

Property, plant and equipment - Changes in Property, Plant and Equipment by Type (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance	$ 2,012,225	$ 1,737,319
Changes
Additions	931,383	471,533
Disposals	(19)
Depreciation for the year	(218,713)	(195,678)
Impairment	(8,084)	(5,582)
Increase (decrease) in foreign currency translation difference	(33)	(223)
Other increases (decreases)	10,307	4,856
Decreases for classification as held for sale	(228)
Subtotal	714,613	274,906
Closing balance	2,726,838	2,012,225
Land
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance	23,507	23,579
Changes
Increase (decrease) in foreign currency translation difference	(5)	(72)
Reclassifications	121
Decreases for classification as held for sale	(141)
Subtotal	(25)	(72)
Closing balance	23,482	23,507
Buildings
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance	270,563	239,666
Changes
Additions	495
Depreciation for the year	(32,915)	(30,872)
Impairment	(156)	(456)
Increase (decrease) in foreign currency translation difference	(7)	(80)
Reclassifications	37,147	62,291
Other increases (decreases)	(1,127)	14
Decreases for classification as held for sale	(87)
Subtotal	3,350	30,897
Closing balance	273,913	270,563
Other property, plant and equipment
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance	32,846	35,418
Changes
Additions	425	346
Depreciation for the year	(8,691)	(7,848)
Impairment		(75)
Increase (decrease) in foreign currency translation difference		(1)
Reclassifications	10,449	5,008
Other increases (decreases)	(69)	(2)
Subtotal	2,114	(2,572)
Closing balance	34,960	32,846
Transport equipment
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance	2,463	2,880
Changes
Additions	146
Depreciation for the year	(962)	(759)
Reclassifications	7,840	354
Other increases (decreases)		(12)
Subtotal	7,024	(417)
Closing balance	9,487	2,463
Supplies and accessories
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance	5,556	4,183
Changes
Additions	4
Depreciation for the year	(1,400)	(1,384)
Impairment		(16)
Reclassifications	726	2,773
Other increases (decreases)	(88)
Subtotal	(758)	1,373
Closing balance	4,798	5,556
Equipment office
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance	1,386	459
Changes
Additions	7	29
Depreciation for the year	(248)	(383)
Impairment		(8)
Increase (decrease) in foreign currency translation difference	(1)	(1)
Reclassifications	213	1,290
Other increases (decreases)	(2)
Subtotal	(31)	927
Closing balance	1,355	1,386
Network and communication equipment
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance	1,359	1,272
Changes
Additions	152	58
Depreciation for the year	(788)	(539)
Reclassifications	1,149	553
Other increases (decreases)		15
Subtotal	513	87
Closing balance	1,872	1,359
Mining assets
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance	38,241	47,052
Changes
Depreciation for the year	(12,871)	(10,138)
Reclassifications	34,914	1,327
Subtotal	22,043	(8,811)
Closing balance	60,284	38,241
IT equipment
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance	3,570	4,083
Changes
Additions	270	232
Depreciation for the year	(1,256)	(1,387)
Impairment		(8)
Reclassifications	582	557
Other increases (decreases)	(19)	93
Subtotal	(423)	(513)
Closing balance	3,147	3,570
Energy generating assets
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance	3,970	4,878
Changes
Depreciation for the year	(717)	(908)
Subtotal	(717)	(908)
Closing balance	3,253	3,970
Assets under construction
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance	731,787	486,345
Changes
Additions	922,690	470,112
Reclassifications	(316,994)	(224,945)
Other increases (decreases)	(8,975)	275
Subtotal	596,721	245,442
Closing balance	1,328,508	731,787
Machinery, plant and equipment
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance	896,977	887,504
Changes
Additions	7,194	756
Disposals	(19)
Depreciation for the year	(158,865)	(141,460)
Impairment	(7,928)	(5,019)
Increase (decrease) in foreign currency translation difference	(20)	(69)
Reclassifications	223,853	150,792
Other increases (decreases)	20,587	4,473
Subtotal	84,802	9,473
Closing balance	981,779	896,977
Gross carrying amount
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance	5,556,401
Changes
Closing balance	6,497,214	5,556,401
Gross carrying amount \| Land
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance	23,507
Changes
Closing balance	23,482	23,507
Gross carrying amount \| Buildings
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance	767,096
Changes
Closing balance	803,398	767,096
Gross carrying amount \| Other property, plant and equipment
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance	239,582
Changes
Closing balance	250,058	239,582
Gross carrying amount \| Transport equipment
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance	13,357
Changes
Closing balance	21,343	13,357
Gross carrying amount \| Supplies and accessories
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance	28,786
Changes
Closing balance	29,426	28,786
Gross carrying amount \| Equipment office
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance	12,943
Changes
Closing balance	13,141	12,943
Gross carrying amount \| Network and communication equipment
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance	9,577
Changes
Closing balance	10,878	9,577
Gross carrying amount \| Mining assets
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance	195,889
Changes
Closing balance	230,803	195,889
Gross carrying amount \| IT equipment
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance	30,456
Changes
Closing balance	31,197	30,456
Gross carrying amount \| Energy generating assets
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance	38,540
Changes
Closing balance	38,540	38,540
Gross carrying amount \| Assets under construction
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance	731,787
Changes
Closing balance	1,328,508	731,787
Gross carrying amount \| Machinery, plant and equipment
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance	3,464,881
Changes
Closing balance	3,716,440	3,464,881
Accumulated depreciation and amortization
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance	(3,544,176)
Changes
Closing balance	(3,770,376)	(3,544,176)
Accumulated depreciation and amortization \| Buildings
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance	(496,533)
Changes
Closing balance	(529,485)	(496,533)
Accumulated depreciation and amortization \| Other property, plant and equipment
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance	(206,736)
Changes
Closing balance	(215,098)	(206,736)
Accumulated depreciation and amortization \| Transport equipment
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance	(10,894)
Changes
Closing balance	(11,856)	(10,894)
Accumulated depreciation and amortization \| Supplies and accessories
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance	(23,230)
Changes
Closing balance	(24,628)	(23,230)
Accumulated depreciation and amortization \| Equipment office
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance	(11,557)
Changes
Closing balance	(11,786)	(11,557)
Accumulated depreciation and amortization \| Network and communication equipment
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance	(8,218)
Changes
Closing balance	(9,006)	(8,218)
Accumulated depreciation and amortization \| Mining assets
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance	(157,648)
Changes
Closing balance	(170,519)	(157,648)
Accumulated depreciation and amortization \| IT equipment
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance	(26,886)
Changes
Closing balance	(28,050)	(26,886)
Accumulated depreciation and amortization \| Energy generating assets
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance	(34,570)
Changes
Closing balance	(35,287)	(34,570)
Accumulated depreciation and amortization \| Machinery, plant and equipment
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance	(2,567,904)
Changes
Closing balance	$ (2,734,661)	$ (2,567,904)

Gains (losses) from operating activities in the statement of income of expenses, included according to their nature - (Impairment) Reversal of Losses of Financial Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement [Line Items]
(Impairment) /reversal of losses of financial assets (See Note 12.2)	$ 3,369	$ (235)	$ 4,684
(Impairment) reversal of losses of financial assets
Statement [Line Items]
(Impairment) /reversal of losses of financial assets (See Note 12.2)	$ 3,369	$ (235)	$ 4,684

Employee benefits - Staff Severance Indemnities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Employee benefits [Line Items]
Current cost of Service	$ 0	$ 0	$ 0
Interest cost	255	240	280
Actuarial gain loss	(1,357)	(135)	506
Benefits paid during the year	7,739
Staff severance indemnities
Employee benefits [Line Items]
Opening balance	(27,099)	(32,199)	(27,814)
Current cost of Service	(4,204)	(4,978)	(3,804)
Interest cost	(1,928)	(1,303)	(1,486)
Actuarial gain loss	(5,305)	3,999	(2,826)
Exchange rate difference	551	4,971	(1,513)
Benefits paid during the year	3,086	2,411	5,244
Balance	$ (34,899)	$ (27,099)	$ (32,199)

Financial risk management - Credit Quality of Financial Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Financial assets neither past due nor impaired
Financial risk management [Line Items]
Financial assets	$ 2,125,587	$ 852,600
Bank notes
Financial risk management [Line Items]
Financial assets	45,269	98,085
Bank notes \| Others
Financial risk management [Line Items]
Financial assets	1,887
Bank notes \| Agricultural Bank of China
Financial risk management [Line Items]
Financial assets	10,334	860
Bank notes \| Bank of China Limited
Financial risk management [Line Items]
Financial assets	27,936	4,167
Bank notes \| Bank of Jiujiang
Financial risk management [Line Items]
Financial assets	1,964
Bank notes \| Bank of Ningbo
Financial risk management [Line Items]
Financial assets	3,148
Bank notes \| Bank of Communications
Financial risk management [Line Items]
Financial assets		7,422
Bank notes \| China CITIC Bank Corp Ltd
Financial risk management [Line Items]
Financial assets		2,623
Bank notes \| China Construction Bank Corporation
Financial risk management [Line Items]
Financial assets		7,122
Bank notes \| China Everbrith Bank Co. Ltd
Financial risk management [Line Items]
Financial assets		6,569
Bank notes \| China Merchants Bank
Financial risk management [Line Items]
Financial assets		22,628
Bank notes \| China Minsheng Bank Corporation
Financial risk management [Line Items]
Financial assets		784
Bank notes \| Industrial & Commercial Bank of China Limited
Financial risk management [Line Items]
Financial assets		353
Bank notes \| Industrial Bank
Financial risk management [Line Items]
Financial assets		6,615
Bank notes \| Ping An Bank
Financial risk management [Line Items]
Financial assets		8,391
Bank notes \| Shanghai Pudong Development Bank Co. Ltd
Financial risk management [Line Items]
Financial assets		7,905
Bank notes \| China Development Bank
Financial risk management [Line Items]
Financial assets		16,807
Bank notes \| Postal Savings Bank of China
Financial risk management [Line Items]
Financial assets		4,718
Bank notes \| KEB Hana Bank (China)
Financial risk management [Line Items]
Financial assets		1,121
Time deposits \| Financial assets neither past due nor impaired
Financial risk management [Line Items]
Financial assets	950,167	905,170
Time deposits \| Banco de Crdito e Inversiones \| Financial assets neither past due nor impaired
Financial risk management [Line Items]
Financial assets	150,578	9,752
Time deposits \| Banco Santander - Santiago \| Financial assets neither past due nor impaired
Financial risk management [Line Items]
Financial assets	124,689	9,052
Time deposits \| Banco Santander - Santiago One [Member] \| Financial assets neither past due nor impaired
Financial risk management [Line Items]
Financial assets	51,444	65,899
Time deposits \| Banco de Chile \| Financial assets neither past due nor impaired
Financial risk management [Line Items]
Financial assets	602
Time deposits \| Banco de Chile One [Member] \| Financial assets neither past due nor impaired
Financial risk management [Line Items]
Financial assets	150,259
Time deposits \| Scotiabank Sud Americano \| Financial assets neither past due nor impaired
Financial risk management [Line Items]
Financial assets		10,750
Time deposits \| Banco Estado \| Financial assets neither past due nor impaired
Financial risk management [Line Items]
Financial assets	85,055
Time deposits \| Scotiabank Chile One [Member] \| Financial assets neither past due nor impaired
Financial risk management [Line Items]
Financial assets	250,362
Time deposits \| Banco Ita CorpBanca \| Financial assets neither past due nor impaired
Financial risk management [Line Items]
Financial assets	284,915	8,001
Time deposits \| Others \| Financial assets neither past due nor impaired
Financial risk management [Line Items]
Financial assets		200,100
Time deposits \| Sumitomo Mitsui Banking \| Financial assets neither past due nor impaired
Financial risk management [Line Items]
Financial assets	122,631
Time deposits \| Sumitomo Mitsui Banking One [Member] \| Financial assets neither past due nor impaired
Financial risk management [Line Items]
Financial assets	210,292	320,054
Time deposits \| Scotiabank Sud Americano One \| Financial assets neither past due nor impaired
Financial risk management [Line Items]
Financial assets	416,026	289,421
Time deposits \| Banco Itau Corpbanca One \| Financial assets neither past due nor impaired
Financial risk management [Line Items]
Financial assets	15,048	195,471
Time deposits \| Banco de Crdito e Inversiones [Member] \| Financial assets neither past due nor impaired
Financial risk management [Line Items]
Financial assets	187,707	34,325
Investment fund \| JP Morgan US Dollar liquidity Fund Institucional \| Financial assets neither past due nor impaired
Financial risk management [Line Items]
Financial assets	435,485	381,297
Investment fund \| Legg Mason - Western Asset Institutional cash reserves \| Financial assets neither past due nor impaired
Financial risk management [Line Items]
Financial assets	$ 590,661	$ 233,648

Financial risk management (Tables)

12 Months Ended

Dec. 31, 2022

Financial risk management

Schedule of credit quality of issuing banks


					As of
					December 31,
Financial institution	Financial assets	Rating			2022
		Moody´s	S&P	Fitch	ThUS$
Agricultural Bank of China	Bank notes	P-1	A-1	F1+	10,334
Bank of China Limited	Bank notes	P-1	A-1	F1+	27,936
Bank of Jiujiang	Bank notes	P-2	-	-	1,964
Bank of Ningbo	Bank notes	P-2	-	-	3,148
Others	Bank notes	-	-	-	1,887
Total					45,269


					December 31,
Financial institution	Financial assets	Rating			2021
		Moody´s	S&P	Fitch	ThUS$
Agricultural Bank of China	Bank notes	P-1	A-1	A	860
Bank of China Limited	Bank notes	P-1	A-1	A	4,167
Bank of Communications	Bank notes	P-1	A-2	A	7,422
China CITIC Bank Corp Ltd	Bank notes	P-2	A-2	BBBu	2,623
China Construction Bank Corporation	Bank notes	-	A-1	A	7,122
China Everbrith Bank Co. Ltd	Bank notes	(P) P-2	A-2	BBB	6,569
China Merchants Bank	Bank notes	-	A-2	A-u	22,628
China Minsheng Bank Corporation	Bank notes	-	A-3	BB+u	784
Industrial & Commercial Bank of China Limited	Bank notes	P-1	A-1	Au	353
Industrial Bank	Bank notes	P-2	-	BBB	6,615
Ping An Bank	Bank notes	P-2	A-2	BB+u	8,391
Shanghai Pudong Development Bank Co. Ltd	Bank notes	P-2	A-2	BBB	7,905
China Development Bank	Bank notes	A1	A-1	F1+u	16,807
Postal Savings Bank of China	Bank notes	-	A-1	A+	4,718
KEB Hana Bank (China)	Bank notes	P-1	A-1	F1+	1,121
Total					98,085

Schedule of credit quality of financial assets


					As of
					December 31,
Financial institution	Financial assets	Rating			2022
		Moody´s	S&P	Fitch	ThUS$
Banco crédito e Inversiones	Time deposits	-	A-2	F2	150,578
Banco Itaú Corpbanca	Time deposits	P-2	A-2	-	284,915
Banco Santander – Santiago	Time deposits	P-1	A-2	-	124,689
Scotiabank Chile	Time deposits	-	-	F1+	416,026
Sumitomo Mitsui Banking	Time deposits	P-1	-	-	122,631
Banco de Chile	Time deposits	-	A-1	-	602
JP Morgan US Dollar liquidity Fund Institucional	Investment fund	Aaa-mf	AAAm	AAAmmf	435,485
Legg Mason - Western Asset Institutional cash reserves	Investment fund	-	AAAm	AAAmmf	590,661
Total					2,125,587
Banco crédito e Inversiones	Time deposits	-	A-2	F2	187,707
Banco Itaú Corpbanca	Time deposits	P-2	A-2	-	15,048
Banco Santander - Santiago	Time deposits	P-1	A-2	-	51,444
Banco Estado	Time deposits	P-1	A-1	-	85,055
Scotiabank Chile	Time deposits	-	-	F1+	250,362
Banco de Chile	Time deposits	-	A-1	-	150,259
Sumitomo Mitsui Banking	Time deposits	P-1	-	-	210,292
Total					950,167


					As of
					December 31,
Financial institution	Financial assets	Rating			2021
		Moody´s	S&P	Fitch	ThUS$
Banco crédito e Inversiones	Time deposits	P-1	A-2	F2-	9,752
Banco Itaú Corpbanca	Time deposits	P-2	A-2	-	8,001
Banco Santander – Santiago	Time deposits	P-1	A-2	-	9,052
Scotiabank Sud Americano	Time deposits	P-1	A-1	F1+	10,750
Other banks	Time deposits	-	-	F1+	200,100
JP Morgan US dollar Liquidity Fund Institutional	Investment fund	Aaa-mf	AAAm	AAAmmf	381,297
Legg Mason - Western Asset Institutional cash reserves	Investment fund	-	AAAm	AAAmmf	233,648
Total					852,600
Banco crédito e Inversiones	Time deposits	P-1	A-2	-	34,325
Banco Itaú Corpbanca	Time deposits	P-2	A-2	-	195,471
Banco Santander - Santiago	Time deposits	P-1	A-2	-	65,899
Scotiabank Sud Americano	Time deposits	P-1	A-1	F1+	289,421
Sumitomo Mitsui Banking	Time deposits	P-1	-	F1	320,054
Total					905,170

Schedule of derivative contracts

These derivative contracts are held with domestic and foreign banks, which have the following credit ratings as of December 31, 2022.


Financial institution	Financial assets	Rating
		Moody´s	S&P	Fitch
Banco Estado	Derivative	P-1	A-1	-
Merrill Lynch International	Derivative	-	A-1	-
JP Morgan	Derivative	P-1	A-2	F1+
Morgan Stanley	Derivative	P-1	A-2	F1
The Bank of Nova Scotia	Derivative	P-1	A-1	F1+
Banco Itaú-Corpbanca	Derivative	P-2	A-2	-
Goldman Sachs	Derivative	P-1	A-2	F1

Schedule of cash and cash equivalents

Cash and cash equivalents are invested in highly liquid mutual funds with an AAA risk rating.


	Nature of undiscounted cash flows
As of December 31, 2022	Carrying
(figures expressed in millions of US dollars)	amount	Less than 1 year	1 to 5 years	Over 5 years	Total
Bank borrowings	330.80	144.83	220.33	—	365.16
Unsecured obligations	2,550.60	405.17	616.66	2,935.15	3,956.98
Sub total	2,881.40	550.00	836.99	2,935.15	4,322.14
Hedging liabilities	62.53	40.76	20.43	12.68	73.87
Derivative financial instruments	5.82	5.82	—	—	5.82
Sub total	68.35	46.58	20.43	12.68	79.69
Current and non-current lease liabilities	61.73	13.94	36.33	27.85	78.12
Trade accounts payable and other accounts payable	374.79	374.79	—	—	374.79
Total	3,386.27	985.31	893.75	2,975.68	4,854.74


	Nature of undiscounted cash flows
As of December 31, 2021	Carrying
(figures expressed in millions of US dollars)	amount	Less than 1 year	1 to 5 years	Over 5 years	Total
Bank borrowings	70.08	1.05	70.64	—	71.69
Unsecured obligations	2,518.64	108.06	924.03	2,980.91	4,013.00
Sub total	2,588.72	109.11	994.67	2,980.91	4,084.69
Hedging liabilities	85.25	12.38	31.58	39.70	83.66
Derivative financial instruments	1.67	1.67	—	—	1.67
Sub total	86.92	14.05	31.58	39.70	85.33
Current and non-current lease liabilities	54.22	8.88	30.97	29.08	68.93
Trade accounts payable and other accounts payable	279.65	279.65	—	—	279.65
Total	3,009.51	411.69	1,057.22	3,049.69	4,518.60

Financial risk management - Undiscounted Cash Flows of Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Financial risk management [Line Items]
Bank borrowings	$ 365,160	$ 71,690
Unsecured obligations	3,956,980	4,013,000
Subtotal	4,322,140	4,084,690
Hedging liabilities	73,870	83,660
Derivative financial instruments	5,820	1,670
Subtotal	79,690	85,330
Current and non-current lease liabilities	78,120	68,930
Trade accounts payable and other accounts payable	374,789	279,650
Total financial liabilities	4,854,740	4,518,600
Less than 1 year
Financial risk management [Line Items]
Bank borrowings	144,830	1,050
Unsecured obligations	405,170	108,060
Subtotal	550,000	109,110
Hedging liabilities	40,760	12,380
Derivative financial instruments	5,820	1,670
Subtotal	46,580	14,050
Current and non-current lease liabilities	13,940	8,880
Trade accounts payable and other accounts payable	374,790	279,650
Total financial liabilities	985,310	411,690
1 to 5 years
Financial risk management [Line Items]
Bank borrowings	220,330	70,640
Unsecured obligations	616,660	924,030
Subtotal	836,990	994,670
Hedging liabilities	20,430	31,580
Derivative financial instruments	0	0
Subtotal	20,430	31,580
Current and non-current lease liabilities	36,330	30,970
Trade accounts payable and other accounts payable	0	0
Total financial liabilities	893,750	1,057,220
Over 5 years
Financial risk management [Line Items]
Bank borrowings	0	0
Unsecured obligations	2,935,150	2,980,910
Subtotal	2,935,150	2,980,910
Hedging liabilities	12,680	39,700
Derivative financial instruments	0	0
Subtotal	12,680	39,700
Current and non-current lease liabilities	27,850	29,080
Trade accounts payable and other accounts payable	0	0
Total financial liabilities	2,975,680	3,049,690
Carrying amount
Financial risk management [Line Items]
Bank borrowings	330,800	70,080
Unsecured obligations	2,550,600	2,518,640
Subtotal	2,881,400	2,588,720
Hedging liabilities	62,530	85,250
Derivative financial instruments	5,820	1,670
Subtotal	68,350	86,920
Current and non-current lease liabilities	61,730	54,220
Trade accounts payable and other accounts payable	374,790	279,650
Total financial liabilities	$ 3,386,270	$ 3,009,510

Financial instruments - Description of Financial Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Financial instruments [Line Items]
Current financial liabilities at amortized cost	$ 861,367	$ 328,033
Non-current financial liabilities at amortized cost	2,424,031	2,565,164
Financial liabilities at amortized cost	3,285,398	2,893,197
Total financial liabilities	4,854,740	4,518,600
For hedging purposes through equity
Financial instruments [Line Items]
Current financial liabilities at fair value through profit or loss	42,754	8,954
Non-current financial liabilities at fair value through profit or loss	19,772	72,900
Financial liabilities at fair value through profit or loss	62,526	81,854
Held for trading at fair value through profit or loss
Financial instruments [Line Items]
Current financial liabilities at fair value through profit or loss	5,816	1,672
Non-current financial liabilities at fair value through profit or loss	0	0
Financial liabilities at fair value through profit or loss	5,816	1,672
Financial liabilities at fair value
Financial instruments [Line Items]
Current financial liabilities at fair value through profit or loss	48,570	10,626
Non-current financial liabilities at fair value through profit or loss	19,772	72,900
Financial liabilities at fair value through profit or loss	68,342	83,526
Bank loans
Financial instruments [Line Items]
Current financial liabilities at amortized cost	130,840	85
Non-current financial liabilities at amortized cost	197,522	69,613
Financial liabilities at amortized cost	328,362	69,698
Unsecured obligations
Financial instruments [Line Items]
Current financial liabilities at amortized cost	343,589	40,594
Non-current financial liabilities at amortized cost	2,176,924	2,445,219
Financial liabilities at amortized cost	2,520,513	2,485,813
Lease Liability
Financial instruments [Line Items]
Current financial liabilities at amortized cost	12,149	7,704
Non-current financial liabilities at amortized cost	49,585	46,519
Financial liabilities at amortized cost	61,734	54,223
Trade and other payables
Financial instruments [Line Items]
Current financial liabilities at amortized cost	374,789	279,650
Non-current financial liabilities at amortized cost	0	3,813
Financial liabilities at amortized cost	374,789	283,463
Total financial liabilities
Financial instruments [Line Items]
Current, total financial liabilities	909,937	338,659
Non-current, total financial liabilities	2,443,803	2,638,064
Total financial liabilities	$ 3,353,740	$ 2,976,723

Inventories

12 Months Ended

Dec. 31, 2022

Inventories

Inventories

Note 10Inventories


	As of	As of
	December 31,	December 31,
Type of inventory	2022	2021
	ThUS$	ThUS$
Raw material	27,035	12,508
Production supplies	68,426	41,114
Products-in-progress	590,946	527,118
Finished product	1,097,874	603,036
Total	1,784,281	1,183,776

As of December 31, 2022 and 2021, the Company held caliche stockpiles, solutions in solar ponds and intermediary salts amounting ThUS$ 513,209 and as of December 31, 2021 was ThUS$ 458,913 (including products in progress). As of December 31, 2022, bulk inventories recognized within work in progress were ThUS$ 122,284, while as of December 31, 2021 this value amounted to ThUS$ 111,316.

As of December 31, 2022, bulk inventories recognized within finished goods were ThUS$ 198,796 (as of December 31, 2021, this value amounted to ThUS$ 99,551).

As of December 31, 2022 and 2021, recognized inventory allowances, amounted to ThUS$ 104,057 and ThUS$ 75,892, respectively. For finished and in-process products, recognized allowances include the provision associated with the lower value of stock (considers lower realizable value, uncertain future use, reprocessing costs of off-specification products, etc.), provision for inventory differences and the provision for potential errors in the determination of inventories (e.g., errors in topography, grade, moisture, etc.). (See Note 3.15).

For raw materials, supplies, materials and parts, the lower value provision was associated to the proportion of defective materials and potential differences.

The breakdown of inventory allowances is detailed as follows:


	As of	As of
	December 31,	December 31,
Type of inventory	2022	2021
	ThUS$	ThUS$
Raw material and supplies for production	4,186	1,865
Products-in-progress	83,499	59,858
Finished product	16,372	14,169
Total	104,057	75,892

The Company has not pledged inventory as collateral for the periods indicated above.

As of December 31, 2022, and 2021, movements in provisions are detailed as follows:


	As of	As of	As of
	December 31,	December 31,	December 31,
Reconciliation	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Beginning balance	75,892	80,930	88,174
Increase in Lower Value (1)	29,693	(3,650)	(5,404)
Additional Provision Differences of Inventory (2)	(161)	330	(704)
Increase / Decrease eventual differences and others (3)	—	—	1,244
Provision Used	(1,367)	(1,718)	(2,380)
Total changes	28,165	(5,038)	(7,244)
Final balance	104,057	75,892	80,930

(1)

There are three types of Lower Value Provisions: (a) Economic Realizable Lower Value, (b) Potential Inventory with Uncertain Future Use and (c) Reprocessing Costs of Off-Specification Products.

(2)

Provisions for Inventory Differences generated when physical differences are detected when taking inventory, which exceed the tolerance levels for this process.

(3)

This algorithm corresponds to the provision of diverse percentages based on the complexity in the measurement and rotation of stock, as well as standard differences based on previous results, as is the case with provisions relating to Commercial Offices.

Income tax and deferred taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income tax and deferred taxes

Schedule of current and non-current tax assets


	As of	As of
	December 31,	December 31,
Current tax assets	2022	2021
	ThUS$	ThUS$
Monthly provisional income tax payments, Chilean companies	894	435
Monthly provisional income tax payments, foreign companies	96,906	62
Corporate tax credits (1)	653	674
1st category tax absorbed by tax losses (2)	169	26,848
Taxes in recovery process	126,292	129,523
Total	224,914	157,542


	As of	As of
	December 31,	December 31,
Non-current tax assets	2022	2021
	ThUS$	ThUS$
Total tax paid at SQM Salar (see note 19.3)	127,114	90,364
Total	127,114	90,364

Schedule of current tax liabilities


	As of	As of
	December 31,	December 31,
Current tax liabilities	2022	2021
	ThUS$	ThUS$
1st Category income tax	337,245	139,842
Foreign company income tax	19,366	27,055
Article 21 single tax	—	38
Total	356,611	166,935

Schedule of income tax rates


	Income tax		Income tax
Country	2022		2021
Spain	25	%	25	%
Belgium	25	%	25	%
Mexico	30	%	30	%
United States	21% + 3.51	%	21% + 3.51	%
South Africa	28	%	28	%
Korea	25	%	25	%
China	25%+12% (1)		25%+12% (1)	%

Schedule of deferred taxes


	Net liability position
Description of deferred tax assets and liabilities as of December 31, 2022	Assets	Liabilities
	ThUS$	ThUS$
Unrealized loss	655,695	—
Property, plant and equipment and capitalized interest (1)	—	(244,560)
Restoration and rehabilitation provision	4,685	—
Manufacturing expenses	—	(139,383)
Employee benefits and unemployment insurance	—	(8,995)
Vacation accrual	7,650	—
Inventory provision	27,512	—
Materials provision	11,915	—
Others employee benefits	1,177	—
Research and development expenses	—	(12,294)
Bad debt provision	715	—
Provision for legal complaints and expenses	6,827	—
Loan acquisition expenses	—	(8,793)
Financial instruments recorded at market value	5,226	—
Specific tax on mining activity	—	(5,799)
Tax loss benefit	10,059	—
Other	2,913	—
Foreign items (other)	96	—
Balances to date	734,470	(419,824)
Net balance		314,646

(1)

This includes right-of-use assets.

(b)

Deferred tax assets and liabilities as of December 31, 2021


	Net liability position
Description of deferred tax assets and liabilities as of December 31, 2021	Assets	Liabilities
	ThUS$	ThUS$
Unrealized loss	144,181	—
Property, plant and equipment and capitalized interest (1)	—	(189,073)
Restoration and rehabilitation provision	6,567	—
Manufacturing expenses	—	(108,181)
Employee benefits and unemployment insurance	—	(7,485)
Vacation accrual	6,039	—
Inventory provision	20,557	—
Materials provision	10,554	—
Others employee benefits	929	—
Research and development expenses	—	(5,387)
Bad debt provision	2,708	—
Provision for legal complaints and expenses	334	—
Loan acquisition expenses	—	(8,967)
Financial instruments recorded at market value	5,242	—
Specific tax on mining activity	—	(4,545)
Tax loss benefit	7,113	—
Other	8,862	—
Foreign items (other)	136	—
Balances to date	213,222	(323,638)
Net balance		(110,416)

(1)

This item includes right-of-use assets.

Schedule of movement in deferred taxes


	As of	As of
	December 31,	December 31,
Movements of deferred tax assets and liabilities	2022	2021
	ThUS$	ThUS$
Deferred tax assets	604,471	135,904
Deferred tax liabilities	(289,825)	(246,320)
Total	314,646	(110,416)

Schedule of deferred tax liabilities (assets)


		Deferred tax	Deferred taxes
		(expense)	related to items	Total increases
	Deferred tax	benefit	credited	(decreases) in	Deferred tax
	liability (asset)	recognized in	(charged)	deferred tax	liability (asset)
	at beginning of	profit (loss) for	directly to	liabilities	at end of
Reconciliation of changes in deferred tax liabilities (assets)	period	the year	equity	(assets)	period
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
Unrealized loss	(144,181)	(511,514)	—	(511,514)	(655,695)
Property, plant and equipment and capitalized interest	189,073	55,487	—	55,487	244,560
Restoration and rehabilitation provision	(6,567)	1,882	—	1,882	(4,685)
Manufacturing expenses	108,181	31,202	—	31,202	139,383
Employee benefits and unemployment insurance	7,486	2,779	(1,270)	1,509	8,995
Vacation accrual	(6,039)	(1,611)	—	(1,611)	(7,650)
Inventory provision	(20,557)	(6,955)	—	(6,955)	(27,512)
Materials provision	(10,554)	(1,361)	—	(1,361)	(11,915)
Derivative financial instruments	—	(7,172)	7,172	—	—
Others employee benefits	(929)	(248)	—	(248)	(1,177)
Research and development expenses	5,387	6,907	—	6,907	12,294
Bad debt provision	(2,708)	1,993	—	1,993	(715)
Provision for legal complaints and expenses	(334)	(6,493)	—	(6,493)	(6,827)
Loan approval expenses	8,967	(174)	—	(174)	8,793
Financial instruments recorded at market value	(5,243)	—	17	17	(5,226)
Specific tax on mining activity	4,545	1,257	(3)	1,254	5,799
Tax loss benefit	(7,113)	(1,502)	—	(1,502)	(8,615)
Others	(8,862)	(7,187)	—	(7,187)	(16,049)
Foreign items (other)	(136)	11,732	—	11,732	11,596
Total temporary differences, unused losses and unused tax credits	110,416	(430,978)	5,916	(425,062)	(314,646)


		Deferred tax	Deferred taxes
		(expense)	related to items	Total increases
	Deferred tax	benefit	credited	(decreases) in
	liability (asset)	recognized in	(charged)	deferred tax	Deferred tax
	at beginning of	profit (loss) for	directly to	liabilities	liability (asset)
Reconciliation of changes in deferred tax liabilities (assets)	period	the year	equity	(assets)	at end of period
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
Unrealized loss	(90,585)	(53,596)	—	(53,596)	(144,181)
Property, plant and equipment and capitalized interest	187,168	1,905	—	1,905	189,073
Restoration and rehabilitation provision	(6,597)	30	—	30	(6,567)
Manufacturing expenses	107,215	966	—	966	108,181
Employee benefits and unemployment insurance	6,669	687	130	817	7,486
Vacation accrual	(6,138)	99	—	99	(6,039)
Inventory provision	(22,200)	1,643	—	1,643	(20,557)
Materials provision	(8,812)	(1,742)	—	(1,742)	(10,554)
Derivative financial instruments	—	14,246	(14,246)	—	—
Others employee benefits	—	(929)	—	(929)	(929)
Research and development expenses	3,581	1,806	—	1,806	5,387
Bad debt provision	(5,072)	2,364	—	2,364	(2,708)
Provision for legal complaints and expenses	(19,637)	19,303	—	19,303	(334)
Loan approval expenses	5,212	3,755	—	3,755	8,967
Financial instruments recorded at market value	3,929	(5,354)	(3,818)	(9,172)	(5,243)
Specific tax on mining activity	3,012	1,521	12	1,533	4,545
Tax loss benefit	(844)	(6,269)	—	(6,269)	(7,113)
Others	(1,454)	(7,408)	—	(7,408)	(8,862)
Foreign items (other)	654	(790)	—	(790)	(136)
Total temporary differences, unused losses and unused tax credits	156,101	(27,763)	(17,922)	(45,685)	110,416

schedule of net operating loss carryforwards

As of December 31, 2022, and 2021, tax loss carryforwards are detailed as follows:


	As of	As of
	December 31,	December 31,
Deferred taxes related to benefits for tax losses	2022	2021
	ThUS$	ThUS$
Chile	10,059	7,113
Foreign	—	1,444
Total	10,059	8,557

schedule of movements in deferred tax assets and liabilities

Movements in deferred tax assets and liabilities as of December 31, 2022 and 2021 are detailed as follows:


	Assets (liabilities)
	As of	As of
	December 31,	December 31,
Movements in deferred tax assets and liabilities	2022	2021
	ThUS$	ThUS$
Deferred tax assets and liabilities, net opening balance	(110,416)	(156,101)
Increase (decrease) in deferred taxes in profit or loss	430,978	27,763
Increase (decrease) deferred taxes in equity	(5,916)	17,922
Total	314,646	(110,416)

Schedule of current and deferred tax (expenses)

Current and deferred tax (expenses) benefits are detailed as follows:


	(Expense) Income
	As of	As of	As of
	December 31,	December 31,	December 31,
Disclosures on income tax (expense) benefit	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Current income tax (expense) benefit
Current tax expense	(2,002,564)	(279,105)	(97,374)
Adjustments to prior year current income tax (expense) benefit	(626)	2,326	(1,901)
Current income tax expense, net, total	(2,003,190)	(276,779)	(99,275)
Deferred tax (expense) benefit
Deferred tax benefits relating to the creation and reversal of temporary differences	427,680	28,445	26,219
Tax adjustments related to the creation and reversal of temporary differences from the previous year	3,298	(682)	2,877
Total deferred tax benefits, net	430,978	27,763	29,096
Income tax expense	(1,572,212)	(249,016)	(70,179)

Income tax (expenses) benefit for foreign and domestic parties are detailed as follows:


	(Expense) Income
	As of	As of	As of
	December 31,	December 31,	December 31,
Income tax (expense) benefit	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Current income tax benefit (expense) by foreign and domestic parties, net
Current income tax expenses, foreign parties, net	(213,060)	(46,748)	(9,782)
Current income tax expenses, domestic, net	(1,790,130)	(230,031)	(89,493)
Current income tax expense, net, total	(2,003,190)	(276,779)	(99,275)
Deferred tax benefit (expense) by foreign and domestic parties, net
Current income tax (expense) benefit, foreign parties, net	(21,338)	(6,679)	10,284
Current income tax benefits, domestic, net	452,316	34,442	18,812
Deferred tax expense, net, total	430,978	27,763	29,096
Income tax expense	(1,572,212)	(249,016)	(70,179)

Schedule of tax effects of other comprehensive income components

(h)Disclosures on the tax effects of other comprehensive income components:


	As of December 31, 2022
	Amount before taxes	(Expense) income for
Income tax related to other income and expense components with a charge or credit to net equity	(expense) gain	income taxes	Amount after taxes
	ThUS$	ThUS$	ThUS$
(Losses) income from defined benefit plans	(6,350)	1,273	(5,077)
Cash flow hedges	26,622	(7,172)	19,450
Reserve for (losses) income from financial assets measured at fair value through other comprehensive income	190	(17)	173
Total	20,462	(5,916)	14,546


	As of December 31, 2021
	Amount before taxes	(Expense) income for
Income tax related to other income and expense components with a charge or credit to net equity	(expense) gain	income taxes	Amount after taxes
	ThUS$	ThUS$	ThUS$
Income (losses) from defined benefit plans	4,679	(142)	4,537
Cash flow hedges	(52,762)	14,246	(38,516)
Reserve for (losses) income from financial assets measured at fair value through other comprehensive income	(12,072)	3,818	(8,254)
Total	(60,155)	17,922	(42,233)


	As of December 31, 2020
	Amount before taxes	(Expense) income for
Income tax related to other income and expense components with a charge or credit to net equity	(expense) gain	income taxes	Amount after taxes
	ThUS$	ThUS$	ThUS$
Income (losses) from defined benefit plans	974	(145)	829
Cash flow hedges	(3,706)	1,001	(2,705)
Reserve for income (losses) from financial assets measured at fair value through other comprehensive income	9,784	(2,642)	7,142
Total	7,052	(1,786)	5,266

Schedule of tax benefit (expense)

Reconciliation between the tax benefit (expense) and the tax calculated by multiplying income before taxes by the Chilean corporate income tax rate.


	(Expense) Benefit
	As of		As of		As of
	December 31,		December 31,		December 31,
Income Tax Expense (Benefit)	2022		2021		2020
	ThUS$		ThUS$		ThUS$
Consolidated income before taxes	5,486,496		841,221		238,538
Statutory income tax rate in Chile	27	%	27	%	27	%
Tax expense using the statutory tax rate	(1,481,354)		(227,130)		(64,405)
Net effect of royalty tax payments	(57,500)		(13,350)		(4,659)
Tax effect of income from regular activities exempt from taxation and dividends from abroad	3,490		(260)		1,786
Tax rate effect of non-tax-deductible expenses for determining taxable profit (loss)	(11,058)		(2,226)		(2,987)
Tax effect of tax rates supported abroad	(25,053)		(5,622)		(2,077)
Effects of changes resulting from classifying a permanent item as a temporary one	—		—		4,826
Other tax effects of reconciliation of accounting income to tax expense	(737)		(428)		(2,663)
Tax expense using the effective tax rate	(1,572,212)		(249,016)		(70,179)

Financial instruments - Trade and Other Payables Details (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Financial instruments
Accounts payable, current	$ 373,351	$ 279,092
Other accounts payable, current	1,438	558
Prepayments from customers, current	0	0
Total, current	374,789	279,650
Accounts payable, noncurrent	0	0
Other accounts payable, noncurrent	0	0
Prepayments from customers, noncurrent	0	3,813
Total, noncurrent	0	3,813
Accounts payable	373,351	279,092
Other accounts payable	1,438	558
Prepayments from customers		3,813
Total	$ 374,789	$ 283,463

Reportable segments - Segments by Geographical Areas (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement [Line Items]
Revenue	$ 10,710,578	$ 2,862,315	$ 1,817,191
Investment accounted for under the equity method	54,386	39,824	85,993
Intangible assets other than goodwill	166,336	179,658	178,407
Goodwill	967	34,596	41,966
Property, plant and equipment, net	2,726,838	2,012,225	1,737,319
Right-of-use assets	60,867	52,608	30,024
Other non-current assets	52,396	33,487	22,042
Non-current assets	3,061,790	2,352,398	2,095,751
Chile
Statement [Line Items]
Revenue	223,148	219,648	153,745
Investment accounted for under the equity method	0	0	0
Intangible assets other than goodwill	75,666	89,019	95,934
Goodwill	0	22,979	23,065
Property, plant and equipment, net	2,269,923	1,815,997	1,667,824
Right-of-use assets	32,312	29,803	23,461
Other non-current assets	46,640	27,626	19,377
Non-current assets	2,424,541	1,985,424	1,829,661
Latin America and the Caribbean
Statement [Line Items]
Revenue	339,940	326,287	159,990
Investment accounted for under the equity method	20,792	8,683	0
Intangible assets other than goodwill	428	496	565
Goodwill	86	86	0
Property, plant and equipment, net	743	671	642
Right-of-use assets	47	68	2,298
Other non-current assets	17	16	17
Non-current assets	22,113	10,020	3,522
Europe
Statement [Line Items]
Revenue	932,558	482,765	380,126
Investment accounted for under the equity method	15,939	15,242	41,273
Intangible assets other than goodwill	6,497	6,996	825
Goodwill	158	11,531	18,901
Property, plant and equipment, net	14,978	11,380	12,592
Right-of-use assets	1,651	2,040	2,428
Other non-current assets	6	6	7
Non-current assets	39,229	47,195	76,026
North America
Statement [Line Items]
Revenue	914,187	558,002	427,572
Investment accounted for under the equity method	17,655	15,899	14,468
Intangible assets other than goodwill	1,345	1,809	2,274
Goodwill	723	0	0
Property, plant and equipment, net	4,506	3,704	3,494
Right-of-use assets	2,739	3,351	1,776
Other non-current assets	4,706	3,950	2,641
Non-current assets	31,674	28,713	24,653
Asia and others
Statement [Line Items]
Revenue	8,300,745	1,275,613	695,758
Investment accounted for under the equity method	0	0	30,252
Intangible assets other than goodwill	82,400	81,338	78,809
Goodwill	0	0	0
Property, plant and equipment, net	436,688	180,473	52,767
Right-of-use assets	24,118	17,346	61
Other non-current assets	1,027	1,889	0
Non-current assets	$ 544,233	$ 281,046	$ 161,889

Other current and non-current non-financial assets - Prospecting Conciliation (Details) - Metallic exploration - Chile - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Detailed Information About Reconciliation Of Economically Feasible Metalic Explorations [Line Items]
Opening balance	$ 18,154	$ 10,872
Additions	11,341	8,071
Reclassifications from Exploration in execution - Chile	8,864	1,906
Reclassifications to Exploration in Exploitation-Chile	(2,032)	(2,695)
Total changes	18,173	7,282
Total	$ 36,327	$ 18,154

Other current and non-current non-financial assets

12 Months Ended

Dec. 31, 2022

Other current and non-current non-financial assets

Other current and non-current non-financial assets

Note 16 Other current and non-current non-financial assets

As of December 31, 2022, and 2021, the detail of “Other Current and Non-current Assets” is as follows:


	As of	As of
	December 31,	December 31,
Other non-financial assets, current	2022	2021
	ThUS$	ThUS$
Domestic Value Added Tax	81,361	26,356
Foreign Value Added Tax	66,926	14,395
Prepaid mining licenses	1,122	1,233
Prepaid insurance	33,896	20,443
Other prepayments	1,230	659
Refund of Value Added Tax to exporters	3,020	—
Other taxes	7,512	6,030
Other assets	1,268	754
Total	196,335	69,870


	As of	As of
	December 31,	December 31,
Other non-financial assets, non-current	2022	2021
	ThUS$	ThUS$
Exploration and evaluation expenses	44,023	26,752
Guarantee deposits	717	622
Other assets	7,656	6,113
Total	52,396	33,487

Movements in assets for the exploration and evaluation of mineral resources as of December 31, 2022, and 2021:


	As of	As of	As of
	December 31,	December 31,	December 31,
Reconciliation	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Opening balance	26,752	17,883	18,654
Change in assets for exploration and evaluation of mineral resources
Additions	11,341	8,071	—
Short term reclassifications	(465)	83	(526)
Increase (decrease) due to transfers and other charges	6,395	715	(245)
Total changes	17,271	8,869	(771)
Total	44,023	26,752	17,883

As of December 31, 2022 and 2021, no reevaluations of assets for exploration and assessment of mineral resources have been conducted.

Mineral resource exploration and evaluation expenditure

Given the nature of operations of the Company and the type of exploration it undertakes, disbursements for exploration can be found in 4 stages: Execution, economically feasible, not economically feasible and in exploitation:

(a)Not economically feasible: Exploration and evaluation disbursements, once finalized and concluded to be not economically feasible, will be charged to profit and loss. As of December 31, 2022, and 2021 there were no disbursements for this concept.

(b)Execution: Disbursements for exploration and evaluation under implementation and therefore prior to determination of economic feasibility, are presented as part of property, plant and equipment as constructions in progress.


	As of	As of
	December 31,	December 31,
Explorations in execution	2022	2021
	ThUS$	ThUS$
Chile	3,699	1,000
Total	3,699	1,000


	As of	As of
	December 31,	December 31,
Conciliation of explorations in execution	2022	2021
	ThUS$	ThUS$
Opening balance	1,000	2,666
Disbursements	4,227	1,736
Reclassifications	(1,528)	(3,402)
Total changes	2,699	(1,666)
Total	3,699	1,000

(c)Economically feasible: Reimbursements for exploration and evaluation whose study concluded that its economic viability is viable are classified in “Other non-financial assets, non-current.”


		As of	As of
		December 31,	December 31,
Prospecting	Type of Exploration	2022	2021
		ThUS$	ThUS$
Chile (1)	Metallic/Non-Metallic	36,327	18,154
Total		36,327	18,154

(1)

The value presented for Chile is composed as of December 2022 of ThUS 11,417 corresponding to non-metallic exploration and evaluation and ThUS$ 24,910 associated with metallic exploration. In December 2021, the amounts of non-metallic and metallic exploration were ThUS$ 6,550 ThUS$ 11,604, respectively.

Economically feasible metallic explorations are those classified as advanced exploration.


	As of	As of
	December 31,	December 31,
Prospecting conciliation	2022	2021
	ThUS$	ThUS$
Opening balance	18,154	10,872
Additions	11,341	8,071
Reclassifications from Exploration in execution – Chile	8,864	1,906
Reclassifications to Exploration in Exploitation-Chile	(2,032)	(2,695)
Total changes	18,173	7,282
Total	36,327	18,154

(d)In Exploitation: Caliche exploration disbursements that are found in this area are amortized based on the material exploited, the portion that is expected to be exploited in the following 12 months is presented as “Current Assets” in the “Inventories in process” and the remaining portion is classified as “Other Non-current Non-Financial Assets”.


	As of	As of
	December 31,	December 31,
Short-Term Exploitation Conciliation	2022	2021
	ThUS$	ThUS$
Opening balance	1,235	1,318
Amortization	—	(1,359)
Reclassifications	465	1,276
Total changes	465	(83)
Total	1,700	1,235


	As of	As of
	December 31,	December 31,
Long-Term Exploitation Conciliation	2022	2021
	ThUS$	ThUS$
Opening balance	8,598	7,011
Amortization	(2,421)	—
Reclassifications	1,519	1,587
Total changes	(902)	1,587
Total	7,696	8,598

Disclosures on equity - Financial Restrictions with Respect to Bonds Issued (Details) - Financial restrictions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Financial Restrictions [Line Items]
Instrument with restriction	Bonds	Bonds
Creditor	Bondholders	Bondholders
Registration number	H	H
Name of financial indicator or ratio (See definition in Note 20.1)	NFD/Equity	NFD/Equity
Measurement frequency	Quarterly	Quarterly
Restriction (Range, value and unit of measure)	Must be less than 1.00	Must be less than 1.00
Indicator or ratio determined by the company	(0.15%)	0.06%
Fulfilled YES/NO	yes	yes
Instrument with restriction	Bonds	Bonds
Creditor	Bondholders	Bondholders
Registration number	Q	Q
Name of financial indicator or ratio (See definition in Note 20.1)	NFD/Equity	NFD/Equity
Measurement frequency	Quarterly	Quarterly
Restriction (Range, value and unit of measure)	Must be less than 1.00	Must be less than 1.00
Indicator or ratio determined by the company	(0.15%)	0.06%
Fulfilled YES/NO	yes	yes
Instrument with restriction	Bonds	Bonds
Creditor	Bondholders	Bondholders
Registration number	O	O
Name of financial indicator or ratio (See definition in Note 20.1)	NFD/Equity	NFD/Equity
Measurement frequency	Quarterly	Quarterly
Restriction (Range, value and unit of measure)	Must be less than 1.00	Must be less than 1.00
Indicator or ratio determined by the company	(0.15%)	0.06%
Fulfilled YES/NO	yes	yes
Instrument with restriction	Bank loans	Bank loans
Creditor	Scotiabank	Scotiabank
Registration number	PB 70M	PB 70M
Name of financial indicator or ratio (See definition in Note 20.1)	NFD/Equity	NFD/Equity
Measurement frequency	Quarterly	Quarterly
Restriction (Range, value and unit of measure)	Must be less than 1.00	Must be less than 1.00
Indicator or ratio determined by the company	(0.15%)	0.06%
Fulfilled YES/NO	yes	yes

Separate information on the main office, parent entity and joint action agreements

12 Months Ended

Dec. 31, 2022

Separate information on the main office, parent entity and joint action agreements

Separate information on the main office, parent entity and joint action agreements

Note 5Separate information on the main office, parent entity and joint action agreements

5.1	Parent’s stand-alone assets and liabilities


	As of	As of
	December 31,	December 31,
Parent’s stand-alone assets and liabilities	2022	2021
	ThUS$	ThUS$
Assets	8,430,376	5,988,757
Liabilities	(3,533,744)	(2,807,237)
Equity	4,896,632	3,181,520

5.2	Parent entity

Pursuant to Article 99 of the Securities Market Law, the CMF may determine that a company does not have a controlling entity in accordance with the distribution and dispersion of its ownership. On November 30, 2018, the CMF issued the ordinary letter No. 32,131 whereby it determined that the Pampa Group do not exert decisive power over the management of the Company since it does not have a predominance in the ownership that allows it to make management decisions. Therefore, the CMF has determined not to consider Pampa Group the controlling entity of the Company and that the Company does not have a controlling entity given its current ownership structure.

Employee benefits - Cost of Service or Benefits Received (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Employee benefits
Financial cost	$ 255	$ 240	$ 280
Real loss in plan assets	(363)	(316)	(637)
Settlement	(1,627)	0	0
Amortization of prior year losses	0	0	326
Net periodic pension expenses	$ (1,735)	$ (76)	$ (31)

Other current and non-current non-financial assets (Tables)

12 Months Ended

Dec. 31, 2022

Other current and non-current non-financial assets

Schedule of other current and non-current non-financial assets

As of December 31, 2022, and 2021, the detail of “Other Current and Non-current Assets” is as follows:


	As of	As of
	December 31,	December 31,
Other non-financial assets, current	2022	2021
	ThUS$	ThUS$
Domestic Value Added Tax	81,361	26,356
Foreign Value Added Tax	66,926	14,395
Prepaid mining licenses	1,122	1,233
Prepaid insurance	33,896	20,443
Other prepayments	1,230	659
Refund of Value Added Tax to exporters	3,020	—
Other taxes	7,512	6,030
Other assets	1,268	754
Total	196,335	69,870


	As of	As of
	December 31,	December 31,
Other non-financial assets, non-current	2022	2021
	ThUS$	ThUS$
Exploration and evaluation expenses	44,023	26,752
Guarantee deposits	717	622
Other assets	7,656	6,113
Total	52,396	33,487

Schedule of changes in assets for exploration and mineral resource evaluation

Movements in assets for the exploration and evaluation of mineral resources as of December 31, 2022, and 2021:


	As of	As of	As of
	December 31,	December 31,	December 31,
Reconciliation	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Opening balance	26,752	17,883	18,654
Change in assets for exploration and evaluation of mineral resources
Additions	11,341	8,071	—
Short term reclassifications	(465)	83	(526)
Increase (decrease) due to transfers and other charges	6,395	715	(245)
Total changes	17,271	8,869	(771)
Total	44,023	26,752	17,883

Schedule of exploration and evaluation explanatory


	As of	As of
	December 31,	December 31,
Explorations in execution	2022	2021
	ThUS$	ThUS$
Chile	3,699	1,000
Total	3,699	1,000

Schedule of detailed information about conciliation of explorations in execution


	As of	As of
	December 31,	December 31,
Conciliation of explorations in execution	2022	2021
	ThUS$	ThUS$
Opening balance	1,000	2,666
Disbursements	4,227	1,736
Reclassifications	(1,528)	(3,402)
Total changes	2,699	(1,666)
Total	3,699	1,000

Schedule of detailed information about reimbursements for exploration and evaluation


		As of	As of
		December 31,	December 31,
Prospecting	Type of Exploration	2022	2021
		ThUS$	ThUS$
Chile (1)	Metallic/Non-Metallic	36,327	18,154
Total		36,327	18,154

Schedule of detailed information about reconciliation of economically feasible metalic explorations

Economically feasible metallic explorations are those classified as advanced exploration.


	As of	As of
	December 31,	December 31,
Prospecting conciliation	2022	2021
	ThUS$	ThUS$
Opening balance	18,154	10,872
Additions	11,341	8,071
Reclassifications from Exploration in execution – Chile	8,864	1,906
Reclassifications to Exploration in Exploitation-Chile	(2,032)	(2,695)
Total changes	18,173	7,282
Total	36,327	18,154

Schedule of detailed information about short term and long term exploitation conciliation


	As of	As of
	December 31,	December 31,
Short-Term Exploitation Conciliation	2022	2021
	ThUS$	ThUS$
Opening balance	1,235	1,318
Amortization	—	(1,359)
Reclassifications	465	1,276
Total changes	465	(83)
Total	1,700	1,235


	As of	As of
	December 31,	December 31,
Long-Term Exploitation Conciliation	2022	2021
	ThUS$	ThUS$
Opening balance	8,598	7,011
Amortization	(2,421)	—
Reclassifications	1,519	1,587
Total changes	(902)	1,587
Total	7,696	8,598

Property, plant and equipment - Costs of Capitalized Interest (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Property, plant and equipment
Capitalization interest rate	4.00%	4.00%
Amount of costs for interest capitalized	$ 24,708	$ 14,206

Cash and cash equivalents - Short-Term Investments, Classified as Cash Equivalents (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Cash And Cash Equivalents [Line Items]
Short-term investments, classified as cash equivalents	$ 1,026,146	$ 614,945
Legg Mason - Western Asset Institutional cash reserves
Cash And Cash Equivalents [Line Items]
Short-term investments, classified as cash equivalents	590,661	233,648
JP Morgan US Dollar liquidity Fund Institucional
Cash And Cash Equivalents [Line Items]
Short-term investments, classified as cash equivalents	$ 435,485	$ 381,297

Other current and non-current non-financial assets - Explorations in Execution (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Disbursements For Exploration And Evaluation [Line Items]
Chile	$ 1,328,508	$ 731,787
Explorations in execution
Disclosure Of Disbursements For Exploration And Evaluation [Line Items]
Chile	$ 3,699	$ 1,000

Right-of-use assets and Lease liabilities (Tables)

12 Months Ended

Dec. 31, 2022

Right-of-use assets and Lease liabilities

Schedule of right-of-use assets

13.1Right-of-use assets

Other

Reconciliation of changes

property,

Machinery,

in right-of-use assets as of

plant and

Transport

plant and

December 31, 2022, net value

Land

Buildings

equipment

Total

ThUS$

Opening Balance

17,353

20,951

—

2,578

11,726

52,608

Additions

1,599

736

—

186

16,675

19,196

Depreciation expenses

(12)

(3,846)

—

(965)

(4,383)

(9,206)

Transfer to property, plant and equipment

(622)

—

(1,114)

(1,736)

Other increases / decreases

(2)

—

(1)

Total changes

967

(3,112)

—

(773)

11,177

8,259

Closing balance

18,320

17,839

—

1,805

22,903

60,867

Other

Reconciliation of changes

property,

Machinery,

in right-of-use assets as of

plant and

Transport

plant and

December 31, 2021, net value

Land

Buildings

equipment

Total

ThUS$

Opening Balance

—

23,377

—

2,479

4,168

30,024

Additions

17,552

1,209

—

862

12,203

31,826

Depreciation expenses

(199)

(3,635)

—

(763)

(4,109)

(8,706)

Other increases / decreases

—

(536)

Total changes

17,353

(2,426)

—

7,558

22,584

Closing balance

17,353

20,951

—

2,578

11,726

52,608

Schedule of lease liabilities


	As of December 31, 2022		As of December 31, 2021
Lease liabilities	Current	Non-Current	Current	Non-Current
	ThUS$	ThUS$	ThUS$	ThUS$
Lease liabilities	12,149	49,585	7,704	46,519
Total	12,149	49,585	7,704	46,519

Schedule of current and non-current lease liabilities

i) Current and non-current lease liabilities

Debtor

Creditor

Contract

Type of

Maturity

Tax ID No.

Company

Country

TAX ID No.

Supplier

Country

indexation unit

amortization

date

Effective rate

79.626.800-K

SQM Salar S.A.

Chile

83.776.000-3

Empresa Constructora Contex Ltda.

Chile

Monthly

03-31-2025

5.39%

79.626.800-K

SQM Salar S.A.

Chile

76.327.820-4

Maquinaria Astudillo y Hermanos Ltda.

Chile

Monthly

01-08-2026

2.89%

79.626.800-K

SQM Salar S.A.

Chile

76.005.787-8

Obras y Servicios para la Industria y Minería S.A.

Chile

Peso

Monthly

12-15-2026

2.61%

79.626.800-K

SQM Salar S.A.

Chile

76.976.580-8

Sociedad Comercial Grandleasing Chile Ltda

Chile

Monthly

06-01-2026

0.00%

79.626.800-K

SQM Salar S.A.

Chile

76.327.820-4

Maquinaria Astudillo y Hermanos Ltda.

Chile

Peso

Monthly

11-24-2025

2.89%

79.626.800-K

SQM Salar S.A.

Chile

76.158.471-5

Sociedad Inmobiliaria Amaru SpA

Chile

Monthly

07-11-2023

2.00%

79.626.800-K

SQM Salar S.A.

Chile

76.327.820-4

Maquinaria Astudillo y Hermanos Ltda.

Chile

Monthly

06-01-2026

3.26%

79.626.800-K

SQM Salar S.A.

Chile

76.951.498-8

Inversiones y Gestión New Energy SpA

Chile

Monthly

04-01-2024

0.00%

79.626.800-K

SQM Salar S.A.

Chile

76.536.499-K

Jungheinrich Rentalift SpA

Chile

Monthly

05-01-2028

2.90%

79.626.800-K

SQM Salar S.A.

Chile

83.472.500-2

Tattersall Maquinarias S.A.

Chile

Monthly

05-01-2028

2.90%

79.947.100-0

SQM Industrial S.A.

Chile

96.856.400-5

El Trovador S.A.

Chile

Monthly

02-08-2030

3.10%

79.947.100-0

SQM Industrial S.A.

Chile

76.976.580-8

Sociedad Comercial Grandleasing Chile Ltda

Chile

Monthly

08-26-2024

2.72%

79.947.100-0

SQM Industrial S.A.

Chile

76.536.499-K

Jungheinrich Rentalif SPA

Chile

Monthly

10-07-2024

3.49%

79.947.100-0

SQM Industrial S.A.

Chile

76.320.186-4

Tecno Fast S.A.

Chile

Monthly

12-31-2022

1.44%

96.592.190-7

SQM Nitratos S.A.

Chile

76.536.499-K

Jungheinrich Rentalif SPA

Chile

Monthly

10-07-2024

3.49%

93.007.000-9

SQM S.A.

Chile

76.536.499-K

Jungheinrich Rentalif SPA

Chile

Monthly

10-07-2024

3.49%

79.768.170-9

Soquimich Comercial S.A.

Chile

96.662.540-6

Containers Operators S.A.

Chile

Monthly

12-31-2022

0.81%

79.768.170-9

Soquimich Comercial S.A.

Chile

76.729.932-K

SAAM Logistics S.A.

Chile

Monthly

08-01-2022

0.81%

79.768.170-9

Soquimich Comercial S.A.

Chile

91.577.000-2

Muelles de Penco S.A.

Chile

Monthly

07-06-2023

1.30%

79.768.170-9

Soquimich Comercial S.A.

Chile

91.577.000-2

Muelles de Penco S.A.

Chile

Monthly

07-06-2023

1.30%

79.768.170-9

Soquimich Comercial S.A.

Chile

76.722.280-7

Inmobiliaria Chincui SPA

Chile

Monthly

05-01-2028

3.38%

79.768.170-9

Soquimich Comercial S.A.

Chile

96.565.580-8

Compañía de Leasing Tattersall S.A.

Chile

Monthly

07-05-2025

2.97%

79.768.170-9

Soquimich Comercial S.A.

Chile

91.577.000-2

Muelles de Penco S.A.

Chile

Monthly

03-01-2029

4.11%

Debtor

Creditor

Contract

Type of

Maturity

Tax ID No.

Company

Country

TAX ID No.

Supplier

Country

indexation unit

amortization

date

Effective rate

76.359.919-1

Orcoma SpA

Chile

70.017.320-8

Obispado de Iquique

Chile

Peso

Monthly

07-12-2036

6.16%

76.359.919-1

Orcoma SpA

Chile

73.190.800-1

Comunidad Indígena Aymara Pueblo de Pisiga Choque

Chile

Monthly

07-12-2024

2.53%

76.359.919-1

Orcoma SpA

Chile

6.848.218-6

Ruth del Carmen Cortez Maturana

Chile

Peso

Monthly

07-12-2031

7.44%

Foreign

SQM North America Corp.

USA

Foreign

Paces West LL.

USA

Dollar

Monthly

12-31-2027

3.36%

Foreign

SQM North America Corp.

USA

Foreign

Hawkins Nunmber One, LLC

USA

Dollar

Monthly

08-31-2024

3.33%

Foreign

SQM North America Corp.

USA

Foreign

Deep South Equipment Company

USA

Dollar

Monthly

03-24-2024

1.33%

Foreign

SQM North America Corp.

USA

Foreign

Tennant-South

USA

Dollar

Monthly

07-02-2023

1.00%

Foreign

SQM North America Corp.

USA

Foreign

Deacon Jones CDJR

USA

Dollar

Monthly

03-30-2024

2.81%

Foreign

SQM North America Corp.

USA

Foreign

Mt Mullahey Inc. Mullahey Chrysler Dodge

USA

Dollar

Monthly

09-11-2022

2.81%

Foreign

SQM North America Corp.

USA

Foreign

Berwyn Partners Inc.

USA

Dollar

Monthly

12-24-2024

1.34%

Foreign

SQM North America Corp.

USA

Foreign

Myers Ford Co Inc.

USA

Dollar

Monthly

06-25-2024

1.51%

Foreign

SQM North America Corp.

USA

Foreign

Ford Motor Credit Company

USA

Dollar

Monthly

05-17-2025

4.19%

Foreign

SQM North America Corp.

USA

Foreign

Porter and Howard INC.

USA

Dollar

Monthly

11-22-2025

5.64%

Foreign

SQM North America Corp.

USA

Foreign

Hanford Chrysler Dodge Jeep

USA

Dollar

Monthly

07-18-2025

4.44%

Foreign

SQM Comercial de México S.A. de C.V.

México

Foreign

Onni Ensenada S.A. de C.V.

México

Dollar

Monthly

12-03-2026

3.45%

Foreign

SQM Comercial de México S.A. de C.V.

México

Foreign

Madol Inmobiliaria S.A. de C.V.

México

Mexican Peso

Monthly

10-31-2023

7.84%

Foreign

SQM Comercial de México S.A. de C.V.

México

Foreign

Madol Inmobiliaria S.A. de C.V.

México

Mexican Peso

Monthly

10-31-2023

7.84%

Foreign

SQM Europe N.V.

Bélgica

Foreign

Straatsburgdok N.V.

Bélgica

Euro

Monthly

03-31-2027

1.30%

Foreign

SQM Australia PTY

Australia

Foreign

Eagle Petroleum (WA) Pty Ltd

Australia

Australian dollar

Monthly

06-21-2022

5.00%

Foreign

SQM Australia PTY

Australia

Foreign

The trust Company (Australia) Pty Ltd

Australia

Australian dollar

Monthly

01-31-2021

3.60%

Foreign

SQM Australia PTY

Australia

Foreign

Ausco Modular Pty Limited

Australia

Australian dollar

Monthly

01-31-2023

5.00%

Foreign

SQM Australia PTY

Australia

Foreign

Western Australian Land Authority

Australia

Australian dollar

Monthly

08-31-2051

3.55%

Foreign

SQM Australia PTY

Australia

Foreign

Mining Thiess Pty Ltd.

Australia

Australian dollar

Monthly

08-31-2051

3.55%

Foreign

SQM Colombia S.A.S.

Colombia

Foreign

Mareauto Colombia S.A.S.

Colombia

COP

Monthly

12-18-2023

2.01%

Foreign

SQM Colombia S.A.S.

Colombia

Foreign

Renting Colombia S.A.

Colombia

COP

Monthly

10-16-2024

2.72%

Foreign

SQM Colombia S.A.S.

Colombia

Foreign

Renting Colombia S.A.

Colombia

COP

Monthly

12-27-2024

2.17%

Foreign

SQM África Pty

Sudáfrica

Foreign

Goscor Finance (Pty) Ltd

Sudáfrica

ZAR

Monthly

11-01-2026

8.51%

Schedule of current lease liabilities


Debtor	Creditor	Nominal amounts as of December 31, 2022			Amounts at amortized cost as of December 31, 2022
Company	Supplier	Up to 90 days	90 days to 1 year	Total	Up to 90 days	90 days to 1 year	Total
		ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
SQM Salar S.A.	Empresa Constructora Contex Ltda	540	1,619	2,159	482	1,483	1,965
SQM Salar S.A.	Maquinarias Industriales Astudillo Hermanos Ltda.	100	300	400	92	280	372
SQM Salar S.A.	Maquinarias Industriales Astudillo Hermanos Ltda.	48	145	193	44	136	180
SQM Salar S.A.	Sociedad Inmobiliaria Amaru SpA	49	49	98	49	49	98
SQM Salar S.A.	Maquinarias Industriales Astudillo Hermanos Ltda.	8	23	31	7	21	28
SQM Salar S.A.	Inversiones y Gestión New Energy SpA	108	325	433	108	325	433
SQM Salar S.A.	Jungheinrich Rentalif SpA	130	390	520	112	340	452
SQM Salar S.A.	Tattersall Maquinarias S.A.	55	164	219	47	143	190
SQM Salar S.A.	Obras y Servicios para la industria y Minera S.A	294	882	1,176	267	810	1,077
SQM Salar S.A.	Sociedad Comercial Grandlesing Chile Ltda	20	59	79	20	59	79
SQM Industrial S.A.	El Trovador S.A.	466	1,399	1,865	376	1,144	1,520
SQM Industrial S.A.	Sociedad Comercial Grandleasing Chile Ltda	180	540	720	173	526	699
SQM Industrial S.A.	Jungheinrich Rentalift SpA	30	88	118	28	85	113
SQM Nitratos S.A.	Jungheinrich Rentalift SpA	18	55	73	17	52	69
SQM S.A.	Jungheinrich Rentalift SpA	20	59	79	18	55	73
Orcoma SpA	Obispado de Iquique	1	4	5	1	2	3
Orcoma SpA	Comunidad Indígena Aymara Pueblo de Pisiga Choque	1	4	5	1	4	5
Orcoma SpA	Ruth del Carmen Cortez Maturana	1	3	4	1	2	3
Soquimich Comercial S.A.	Muelles de Penco S.A.	84	182	266	77	165	242
Soquimich Comercial S.A.	Muelles de Penco S.A.	43	59	102	44	59	103
Soquimich Comercial S.A.	Inmobiliaria Chincui SPA	157	471	628	131	401	532
Soquimich Comercial S.A.	Compañia de leasing Tattersall S.A.	58	174	232	54	165	219
SQM North America Corp.	Paces West LL.	56	173	229	47	148	195
SQM North America Corp.	Hawkins Nunmber One, LLC	34	100	134	31	97	128
SQM North America Corp.	Deep South Equipment Company	1	4	5	1	4	5
SQM North America Corp.	Tennant- South	1	1	2	2	1	3
SQM North America Corp.	Deacon Jones CDJR	2	6	8	2	6	8
SQM North America Corp.	Berwyn Partners Inc	2	6	8	2	6	8
SQM North America Corp.	Myers Ford Co Inc	2	6	8	2	5	7
SQM North America Corp.	Ford Motor Credit Company	2	5	7	2	5	7
SQM North America Corp.	Porter and Howard INC	1	4	5	1	3	4
SQM North America Corp.	Hanford Chrysler Dodge Jeep	1	3	4	1	4	5
SQM Comercial de México S.A. de C.V.	Onni Ensenada S.A. de C.V.	99	296	395	86	264	350
SQM Comercial de México S.A. de C.V.	Madol Inmobiliaria S.A. de C.V.	20	46	66	18	44	62
SQM Comercial de México S.A. de C.V.	Madol Inmobiliaria S.A. de C.V.	7	16	23	7	16	23
SQM Europe N.V.	Straatsburgdok N.V.	102	306	408	96	290	386
SQM Australia PTY	Ausco Modular Pty Limited	15	-	15	14	-	14
SQM Australia PTY	Western Australian Land Authority	105	387	492	54	94	148
SQM Australia PTY	Kwinana Refinery Lease - Laydown Area	25	74	99	23	71	94
SQM Australia PTY	Thiess Pty Ltd	640	1,828	2,468	538	1,573	2,111
SQM Australia PTY	Project JV	22	66	88	19	60	79
SQM Colombia S.A.S.	Mareauto Colombia S.A.S.	1	4	5	1	4	5
SQM Colombia S.A.S.	Renting Colombia S.A.	2	6	8	2	6	8
SQM Colombia S.A.S.	Renting Colombia S.A.	2	7	9	2	7	9
SQM Africa Pty	Goscor Finance (Pty) Ltd	12	36	48	8	27	35
Total		3,565	10,374	13,939	3,108	9,041	12,149


Debtor	Creditor	Nominal amounts as of December 31, 2021			Amounts at amortized cost as of December 31, 2021
Company	Supplier	Up to 90 days	90 days to 1 year	Total	Up to 90 days	90 days to 1 year	Total
		ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
SQM Salar S.A.	Empresa Constructora Contex Ltda	540	1,618	2,158	457	1,407	1,864
SQM Salar S.A.	Maquinarias Industriales Astudillo Hermanos Ltda.	100	300	400	89	272	361
SQM Salar S.A.	SKM Industrial Ltda.	202	135	337	197	133	330
SQM Salar S.A.	Maquinarias Industriales Astudillo Hermanos Ltda.	48	145	193	43	132	175
SQM Salar S.A.	Sociedad Inmobiliaria Amaru SpA	49	146	195	47	144	191
SQM Salar S.A.	Maquinarias Industriales Astudillo Hermanos Ltda.	8	23	31	7	20	27
SQM Industrial S.A.	El Trovador S.A.	466	1,399	1,865	364	1,110	1,474
SQM Industrial S.A.	Sociedad Comercial Grandleasing Chile Ltda	180	541	721	168	512	680
SQM Industrial S.A.	Jungheinrich Rentalift SpA	30	88	118	27	82	109
SQM Industrial S.A.	Tecnofast	18	56	74	18	55	73
SQM Nitratos S.A.	Jungheinrich Rentalift SpA	18	55	73	17	50	67
SQM S.A.	Jungheinrich Rentalift SpA	20	59	79	18	55	73
Orcoma Estudios SpA	Obispado de Iquique	1	4	5	1	1	2
Orcoma Estudios SpA	Comunidad Indígena Aymara Pueblo de Pisiga Choque	1	5	6	1	4	5
Orcoma Estudios SpA	Ruth del Carmen Cortez Maturana	1	3	4	1	1	2
Soquimich Comercial S.A.	Container Operators S.A.	86	257	343	85	257	342
Soquimich Comercial S.A.	Muelles de Penco S.A.	41	124	165	41	122	163
Soquimich Comercial S.A.	Muelles de Penco S.A.	44	134	178	44	131	175
Soquimich Comercial S.A.	Inmobiliaria Chincui SPA	157	471	628	127	388	515
Soquimich Comercial S.A.	Compañía de Leasing Tattersall S.A.	58	174	232	52	161	213
SQM North America Corp.	Paces West LL.	55	168	223	44	138	182
SQM North America Corp.	Hawkins Nunmber One, LLC	32	98	130	30	91	121
SQM North America Corp.	Deep South Equipment Company	1	4	5	1	4	5
SQM North America Corp.	Tennant- South	2	4	6	1	5	6
SQM Comercial de México S.A. de C.V.	Onni Ensenada S.A. de C.V.	99	296	395	84	254	338
SQM Comercial de México S.A. de C.V.	Madol Inmobiliaria S.A. de C.V.	20	58	78	17	53	70
SQM Comercial de México S.A. de C.V.	Madol Inmobiliaria S.A. de C.V.	7	21	28	6	19	25
SQM Europe N.V.	Straatsburgdok N.V.	102	306	408	95	288	383
SQM Australia PTY	Ausco Modular Pty Limited	9	25	34	8	24	32
SQM Australia PTY	Western Australian Land Authority	(52)	(227)	(279)	(103)	(244)	(347)
SQM Australia PTY	Eagle Petroleum (WA) Pty Ltd	5	6	11	3	8	11
SQM Australia PTY	Knight Frank	12	—	12	12	—	12
SQM Colombia S.A.S.	Mareauto Colombia S.A.S.	2	4	6	2	4	6
SQM Colombia S.A.S.	Renting Colombia S.A.	2	7	9	2	7	9
SQM Colombia S.A.S.	Renting Colombia S.A.	3	7	10	3	7	10
Total		2,367	6,514	8,881	2,009	5,695	7,704

Schedule of non-current lease liabilities


Debtor	Creditor	Nominal amounts as of December 31, 2022				Amounts at amortized cost as of December 31, 2022
Company	Supplier	1-2 Years	2-3 Years	3-4 Years	Total	1-2 Years	2-3 Years	3-4 Years	Total
		ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
SQM Salar S.A.	Empresa Constructora Contex Ltda.	2,698	—	—	2,698	2,606	—	—	2,606
SQM Salar S.A.	Maquinarias Industriales Astudillo Hermanos Ltda.	800	33	—	833	775	33	—	808
SQM Salar S.A.	Maquinarias Industriales Astudillo Hermanos Ltda.	370	—	—	370	359	—	—	359
SQM Salar S.A.	Maquinarias Industriales Astudillo Hermanos Ltda.	62	13	—	75	59	13	—	72
SQM Salar S.A.	Inversiones y Gestión New Energy SpA.	144	—	—	144	145	—	—	145
SQM Salar S.A.	Jungheinrich Rentalift SpA.	1,041	1,041	217	2,299	943	999	215	2,157
SQM Salar S.A.	Tattersall Maquinarias S.A.	439	439	91	969	397	421	91	909
SQM Salar S.A.	Obras y Servicios para la industria y Minera S.A.	1,176	1,176	1,078	3,430	1,104	1,133	1,064	3,301
SQM Salar S.A.	Sociedad Comercial Grandlesing Chile Ltda	79	79	39	197	79	79	40	198
SQM Industrial S.A.	El Trovador S.A.	3,730	5,595	2,176	11,501	3,182	5,152	2,135	10,469
SQM Industrial S.A.	Sociedad Comercial Grandleasing Chile Ltda	420	—	—	420	417	—	—	417
SQM Industrial S.A.	Jungheinrich Rentalift SpA	98	—	—	98	97	—	—	97
SQM Nitratos S.A.	Jungheinrich Rentalift SpA	61	—	—	61	60	—	—	60
SQM S.A.	Jungheinrich Rentalift SpA	66	—	—	66	65	—	—	65
Orcoma Estudios SpA	Obispado de Iquique	10	14	36	60	5	8	29	42
Orcoma Estudios SpA	Comunidad Indígena Aymara Pueblo de Pisiga Choque	4	—	—	4	3	—	—	3
Orcoma Estudios SpA	Ruth del Carmen Cortez Maturana	8	12	10	30	3	3	18	24
Soquimich Comercial S.A.	Muelles de Penco S.A.	170	102	261	533	153	90	244	487
Soquimich Comercial S.A.	Inmobiliaria Chincui SPA	1,255	1,517	—	2,772	1,119	1,455	—	2,574
Soquimich Comercial S.A.	Compañia de leasing Tattersall S.A	349	—	—	349	340	—	—	340
SQM North America Corp.	Paces West LL.	479	508	—	987	431	491	—	922
SQM North America Corp.	Hawkins Nunmber One, LLC	90	—	—	90	89	—	—	89
SQM North America Corp.	Deep South Equipment Company	1	—	—	1	1	—	—	1
SQM North America Corp.	Deacon Jones CDJR	2	—	—	2	2	—	—	2
SQM North America Corp.	Berwyn Partners Inc	8	—	—	8	8	—	—	8
SQM North America Corp.	Myers Ford Co Inc	4	—	—	4	4	—	—	4
SQM North America Corp.	Ford Motor Credit Company	12	—	—	12	9	—	—	9
SQM North America Corp.	Porter and Howard INC	5	4	—	9	5	4	—	9
SQM North America Corp.	Hanford Chrysler Dodge Jeep	5	3	—	8	5	3	—	8
SQM Comercial de México S.A. de C.V.	Onni Ensenada S.A. de C.V.	789	362	—	1,151	738	356	—	1,094
SQM Europe N.V.	Straatsburgdok N.V.	888	564	—	1,452	861	559	—	1,420
SQM Australia PTY	Kwinana Refinery Lease - Laydown Area	25	—	—	25	24	—	—	24
SQM Australia PTY	Thiess Pty Ltd	2,231	2,422	—	4,653	2,858	—	—	2,858
SQM Australia PTY	Western Australian Land Authority	1,616	3,162	23,894	28,672	61	1,619	16,102	17,782
SQM Australia PTY	Project JV	83	—	—	83	80	—	—	80
SQM Colombia S.A.S.	Renting Colombia S.A.	7	—	—	7	7	—	—	7
SQM Colombia S.A.S.	Renting Colombia S.A.	11	—	—	11	11	—	—	11
SQM Africa Pty	Goscor Finance (Pty) Ltd	12	36	48	96	82	42	—	124
Total		19,248	17,082	27,850	64,180	17,187	12,460	19,938	49,585


Debtor	Creditor	Nominal amounts as of December 31, 2021				Amounts at amortized cost as of December 31, 2021
Company	Supplier	1-2 Years	2-3 Years	3-4 Years	Total	1-2 Years	2-3 Years	3-4 Years	Total
		ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
SQM Salar S.A.	Empresa Constructora Contex Ltda	4,317	540	—	4,857	4,036	535	—	4,571
SQM Salar S.A.	Maquinarias Industriales Astudillo Hermanos Ltda.	800	434	—	1,234	754	426	—	1,180
SQM Salar S.A.	SKM Industrial Ltda.	—	—	—	—	—	—	—	—
SQM Salar S.A.	Maquinarias Industriales Astudillo Hermanos Ltda.	386	177	—	563	365	174	—	539
SQM Salar S.A.	Sociedad Inmobiliaria Amaru SpA	98	—	—	98	97	—	—	97
SQM Salar S.A.	Maquinarias Industriales Astudillo Hermanos Ltda.	62	44	—	106	57	43	—	100
SQM Industrial S.A.	El Trovador S.A.	3,730	5,594	4,040	13,364	3,086	4,997	3,905	11,988
SQM Industrial S.A.	Sociedad Comercial Grandleasing Chile Ltda	1,141	—	—	1,141	1,115	—	—	1,115
SQM Industrial S.A.	Jungheinrich Rentalift SpA	216	—	—	216	209	—	—	209
SQM Industrial S.A.	Tecnofast	—	—	—	—	—	—	—	—
SQM Nitratos S.A.	Jungheinrich Rentalift SpA	134	—	—	134	129	—	—	129
SQM S.A.	Jungheinrich Rentalift SpA	145	—	—	145	141	—	—	141
Orcoma Estudios SpA	Obispado de Iquique	10	14	41	65	5	8	32	45
Orcoma Estudios SpA	Comunidad Indígena Aymara Pueblo de Pisiga Choque	8	—	—	8	8	—	—	8
Orcoma Estudios SpA	Ruth del Carmen Cortez Maturana	8	12	14	34	5	8	12	25
Soquimich Comercial S.A.	Container Operators S.A.	—	—	—	—	—	—	—	—
Soquimich Comercial S.A.	Muelles de Penco S.A.	96	—	—	96	96	—	—	96
Soquimich Comercial S.A.	Muelles de Penco S.A.	104	—	—	104	103	—	—	103
Soquimich Comercial S.A.	Inmobiliaria Chincui SPA	1,255	1,883	261	3,399	1,082	1,766	259	3,107
Soquimich Comercial S.A.	Compañía de Leasing Tattersall S.A.	465	116	—	581	444	115	—	559
SQM North America Corp.	Paces West LL.	465	752	—	1,217	403	714	—	1,117
SQM North America Corp.	Hawkins Nunmber One, LLC	224	—	—	224	217	—	—	217
SQM North America Corp.	Deep South Equipment Company	6	—	—	6	6	—	—	6
SQM North America Corp.	Tennant- South	3	—	—	3	3	—	—	3
SQM Comercial de México S.A. de C.V.	Onni Ensenada S.A. de C.V.	789	756	—	1,545	713	731	—	1,444
SQM Comercial de México S.A. de C.V.	Madol Inmobiliaria S.A. de C.V.	65	—	—	65	63	—	—	63
SQM Comercial de México S.A. de C.V.	Madol Inmobiliaria S.A. de C.V.	24	—	—	24	23	—	—	23
SQM Europe N.V.	Straatsburgdok N.V.	844	1,015	—	1,859	807	1,000	—	1,807
SQM Australia PTY	Ausco Modular Pty Limited	15	—	—	15	15	—	—	15
SQM Australia PTY	Western Australian Land Authority	1,184	2,995	24,724	28,903	(86)	1,146	16,710	17,770
SQM Colombia S.A.S.	Mareauto Colombia S.A.S.	6	—	—	6	6	—	—	6
SQM Colombia S.A.S.	Renting Colombia S.A.	15	—	—	15	15	—	—	15
SQM Colombia S.A.S.	Renting Colombia S.A.	21	—	—	21	21	—	—	21
Total		16,636	14,332	29,080	60,048	13,938	11,663	20,918	46,519

Financial risk management

12 Months Ended

Dec. 31, 2022

Financial risk management

Financial risk management

Note 4Financial risk management

4.1Financial risk management policy

The Company’s financial risk management policy is focused on safeguarding the stability and sustainability of the Company and its subsidiaries with regard to all such relevant financial uncertainty components.

The Company’s operations are subject to certain financial risk factors that may affect its financial position or results. The most significant risk exposures are market risk, liquidity risk, currency risk, credit risk, and interest rate risk, among others.

There could also be additional risks, which are either unknown or known but not currently deemed to be significant, which could also affect the Company’s business operations, its business, financial position, or profit or loss.

The financial risk management structure includes identifying, determining, analyzing, quantifying, measuring and controlling these events. Management and in particular, Finance Management, is responsible for constantly assessing the financial risk.

4.2Risk Factors

(a)	Credit risk

A global economic contraction may have potentially negative effects on the financial assets of the Company, which are primarily made up of financial investments and trade receivables, and the impact on of our customers could extend the payment terms of the Company’s receivables by increasing its exposure to credit risk. Although measures are taken to minimize the risk, this global economic situation could mean losses with adverse material effects on the business, financial position or profit and loss of the Company’s operations.

Trade receivables: to mitigate credit risk, the Company maintains active control of collection and requires the use of credit insurance. Credit insurance covers the risk of insolvency and unpaid invoices corresponding to 80% of all receivables with third parties. The credit risk associated with receivables is analyzed in Note 12.2 b) and the related accounting policy can be found in Note 3.6.

Bank promissory notes: These are negotiable promissory notes issued at the request of customers by a bank payable upon maturity to guarantee collection. These notes are accepted based on the credit quality of the issuing banks.


					As of
					December 31,
Financial institution	Financial assets	Rating			2022
		Moody´s	S&P	Fitch	ThUS$
Agricultural Bank of China	Bank notes	P-1	A-1	F1+	10,334
Bank of China Limited	Bank notes	P-1	A-1	F1+	27,936
Bank of Jiujiang	Bank notes	P-2	-	-	1,964
Bank of Ningbo	Bank notes	P-2	-	-	3,148
Others	Bank notes	-	-	-	1,887
Total					45,269


					December 31,
Financial institution	Financial assets	Rating			2021
		Moody´s	S&P	Fitch	ThUS$
Agricultural Bank of China	Bank notes	P-1	A-1	A	860
Bank of China Limited	Bank notes	P-1	A-1	A	4,167
Bank of Communications	Bank notes	P-1	A-2	A	7,422
China CITIC Bank Corp Ltd	Bank notes	P-2	A-2	BBBu	2,623
China Construction Bank Corporation	Bank notes	-	A-1	A	7,122
China Everbrith Bank Co. Ltd	Bank notes	(P) P-2	A-2	BBB	6,569
China Merchants Bank	Bank notes	-	A-2	A-u	22,628
China Minsheng Bank Corporation	Bank notes	-	A-3	BB+u	784
Industrial & Commercial Bank of China Limited	Bank notes	P-1	A-1	Au	353
Industrial Bank	Bank notes	P-2	-	BBB	6,615
Ping An Bank	Bank notes	P-2	A-2	BB+u	8,391
Shanghai Pudong Development Bank Co. Ltd	Bank notes	P-2	A-2	BBB	7,905
China Development Bank	Bank notes	A1	A-1	F1+u	16,807
Postal Savings Bank of China	Bank notes	-	A-1	A+	4,718
KEB Hana Bank (China)	Bank notes	P-1	A-1	F1+	1,121
Total					98,085

Concentrations of credit risk with regard to trade receivables are reduced, owing to the Company’s large number of clients and their distribution around the globe.

No significant modifications have been made during the period to risk models or parameters used in comparison to December 31, 2022, and no modifications have been made to contractual cash flows that have been significant during this period, except for considering in December 2022 the incorporation of cash flows received from insurance claims in the determination of the allowance for doubtful accounts. The effect of this change was not significant to the overall financial statements as of December 31, 2022.

Financial investments: correspond to time deposits whose maturity date is greater than 90 days and less than 360 days from the date of investment, so they are not exposed to excessive market risks. The counterparty risk in implementation of financial operations is assessed on an ongoing basis for all financial institutions in which the Company holds financial investments.

The credit quality of financial assets that are not past due or impaired can be evaluated by reference to external credit ratings (if they are available) or historical information on counterparty late payment rates:


					As of
					December 31,
Financial institution	Financial assets	Rating			2022
		Moody´s	S&P	Fitch	ThUS$
Banco crédito e Inversiones	Time deposits	-	A-2	F2	150,578
Banco Itaú Corpbanca	Time deposits	P-2	A-2	-	284,915
Banco Santander – Santiago	Time deposits	P-1	A-2	-	124,689
Scotiabank Chile	Time deposits	-	-	F1+	416,026
Sumitomo Mitsui Banking	Time deposits	P-1	-	-	122,631
Banco de Chile	Time deposits	-	A-1	-	602
JP Morgan US Dollar liquidity Fund Institucional	Investment fund	Aaa-mf	AAAm	AAAmmf	435,485
Legg Mason - Western Asset Institutional cash reserves	Investment fund	-	AAAm	AAAmmf	590,661
Total					2,125,587
Banco crédito e Inversiones	Time deposits	-	A-2	F2	187,707
Banco Itaú Corpbanca	Time deposits	P-2	A-2	-	15,048
Banco Santander - Santiago	Time deposits	P-1	A-2	-	51,444
Banco Estado	Time deposits	P-1	A-1	-	85,055
Scotiabank Chile	Time deposits	-	-	F1+	250,362
Banco de Chile	Time deposits	-	A-1	-	150,259
Sumitomo Mitsui Banking	Time deposits	P-1	-	-	210,292
Total					950,167


					As of
					December 31,
Financial institution	Financial assets	Rating			2021
		Moody´s	S&P	Fitch	ThUS$
Banco crédito e Inversiones	Time deposits	P-1	A-2	F2-	9,752
Banco Itaú Corpbanca	Time deposits	P-2	A-2	-	8,001
Banco Santander – Santiago	Time deposits	P-1	A-2	-	9,052
Scotiabank Sud Americano	Time deposits	P-1	A-1	F1+	10,750
Other banks	Time deposits	-	-	F1+	200,100
JP Morgan US dollar Liquidity Fund Institutional	Investment fund	Aaa-mf	AAAm	AAAmmf	381,297
Legg Mason - Western Asset Institutional cash reserves	Investment fund	-	AAAm	AAAmmf	233,648
Total					852,600
Banco crédito e Inversiones	Time deposits	P-1	A-2	-	34,325
Banco Itaú Corpbanca	Time deposits	P-2	A-2	-	195,471
Banco Santander - Santiago	Time deposits	P-1	A-2	-	65,899
Scotiabank Sud Americano	Time deposits	P-1	A-1	F1+	289,421
Sumitomo Mitsui Banking	Time deposits	P-1	-	F1	320,054
Total					905,170

(b)	Currency risk

The functional currency of the company is the US dollar, due to its influence on the determination of price levels, its relation to the cost of sales and considering that a significant part of the Company’s business is conducted in this currency. However, the global nature of the Company’s business generates an exposure to exchange rate variations of several currencies with the US dollar. Therefore, the Company maintains hedge contracts to mitigate the exposure generated by its main mismatches (net between assets and liabilities) in currencies other than the US dollar against the exchange rate variation, updating these contracts periodically depending on the amount of mismatching to be covered in these currencies. Occasionally, subject to the approval of the Board, the Company ensures short-term cash flows from certain specific line items in currencies other than the US dollar.

A significant portion of the Company’s costs, especially salary payments, is associated with the Peso. Therefore, an increase or decrease in its exchange rate with the US dollar will provoke a respective decrease or increase to these accounting costs, which would be reflected in the Company’s profit and loss. By the fourth quarter of 2022, approximately US$644 million accumulated in expenses are associated with the Peso.

As of December 31, 2022, the Company held derivative instruments classified as hedges of foreign exchange risks associated with 100% of all the bond obligations denominated in UF, for a net liability fair value of US$11.73 million, this significant variation is explained primarily by the USD/CLP exchange rate observed at the end of the period. As of December 31, 2021, this value corresponds to a net liability amounting US$ 81.60 million.

Furthermore, on of December 31, 2022, the Company held derivative instruments classified as hedges of foreign exchange risks associated with 100% of all nominative term deposits in UF and in pesos, at a net assets fair value of US$29.98 million. As of December 31, 2021, a net assets fair value was recognized for an amount of US$12.61 million.

The Company contracted derivatives classified as foreign exchange hedges for all the expected disbursements in Australian dollars for the Mt Holland project (See note 8.5), to hedge its exposure to cash flow variations. The fair value of this hedge was a net asset of US$ 7.14 million as of December 31, 2022.

The Company had the following derivative contracts as of December 31, 2022 (at the absolute value of the sum of their notional values), to hedge the difference between its assets and liabilities: US$ 87.00 million CLP/US dollar derivative contracts, US$ 38.05 million Euro/US dollar derivative contracts, US$ 46.84 million in South African rand/US dollar derivative contracts, US$ 333.19 million in Chinese renminbi/US dollar derivative contracts, US$ 51.29 million in Australian dollar/US dollar derivative contracts and US$ 7.3 million in other currencies.

These derivative contracts are held with domestic and foreign banks, which have the following credit ratings as of December 31, 2022.


Financial institution	Financial assets	Rating
		Moody´s	S&P	Fitch
Banco Estado	Derivative	P-1	A-1	-
Merrill Lynch International	Derivative	-	A-1	-
JP Morgan	Derivative	P-1	A-2	F1+
Morgan Stanley	Derivative	P-1	A-2	F1
The Bank of Nova Scotia	Derivative	P-1	A-1	F1+
Banco Itaú-Corpbanca	Derivative	P-2	A-2	-
Goldman Sachs	Derivative	P-1	A-2	F1

(c)Interest rate risk

Interest rate fluctuations, primarily due to the uncertain future behavior of markets, may have a material impact on the financial results of the Company. Significant increases in the rate could make it difficult to access financing at attractive rates for the Company’s investment projects.

The Company maintains current and non-current financial debt at fixed rates and LIBOR (maturing on May 30, 2023) rate plus spread and at a SOFR rate plus spread.

As of December 31, 2022, the Company has 7.0% of its financial liabilities linked to variations SOFR and 2.5% of its financial liabilities subject to variations in the LIBOR rate. 100% of these obligations are covered by derivative instruments classified as interest rate hedges, whose value as of December 31, 2022 was a net asset of ThUS$ 1,666. Therefore, a significant increase in the rate would not affect the financial value of this hedged obligation.

(d)Liquidity risk

Liquidity risk relates to the funds needed to comply with payment obligations. The Company’s objective is to maintain financial flexibility through a comfortable balance between fund requirements and cash flows from regular business operations, bank borrowings, bonds, short term investments and marketable securities, among others. For this purpose, the Company keeps a high liquidity ratio¹, which enables it to cover current obligations with clearance. (As of December 31, 2022 this was 2.29 and 4.76 for December 31, 2021).

The Company has an important capital expense program which is subject to change over time.

On the other hand, world financial markets go through periods of contraction and expansion that are unforeseeable in the long-term and may affect the Company’s access to financial resources. Such factors may have a material adverse impact on the Company’s business, financial position and results of operations.

The Company constantly monitors the matching of its obligations with its investments, taking due care of maturities of both, from a conservative perspective, as part of this financial risk management strategy. As of December 31, 2022, the Company had unused, available revolving credit facilities with banks, for a total of US$694 million. Working capital bank lines committed and available at December 31, 2022 totaled US$100 million.

¹	All current assets divided by all current liabilities.

Cash and cash equivalents are invested in highly liquid mutual funds with an AAA risk rating.


	Nature of undiscounted cash flows
As of December 31, 2022	Carrying
(figures expressed in millions of US dollars)	amount	Less than 1 year	1 to 5 years	Over 5 years	Total
Bank borrowings	330.80	144.83	220.33	—	365.16
Unsecured obligations	2,550.60	405.17	616.66	2,935.15	3,956.98
Sub total	2,881.40	550.00	836.99	2,935.15	4,322.14
Hedging liabilities	62.53	40.76	20.43	12.68	73.87
Derivative financial instruments	5.82	5.82	—	—	5.82
Sub total	68.35	46.58	20.43	12.68	79.69
Current and non-current lease liabilities	61.73	13.94	36.33	27.85	78.12
Trade accounts payable and other accounts payable	374.79	374.79	—	—	374.79
Total	3,386.27	985.31	893.75	2,975.68	4,854.74


	Nature of undiscounted cash flows
As of December 31, 2021	Carrying
(figures expressed in millions of US dollars)	amount	Less than 1 year	1 to 5 years	Over 5 years	Total
Bank borrowings	70.08	1.05	70.64	—	71.69
Unsecured obligations	2,518.64	108.06	924.03	2,980.91	4,013.00
Sub total	2,588.72	109.11	994.67	2,980.91	4,084.69
Hedging liabilities	85.25	12.38	31.58	39.70	83.66
Derivative financial instruments	1.67	1.67	—	—	1.67
Sub total	86.92	14.05	31.58	39.70	85.33
Current and non-current lease liabilities	54.22	8.88	30.97	29.08	68.93
Trade accounts payable and other accounts payable	279.65	279.65	—	—	279.65
Total	3,009.51	411.69	1,057.22	3,049.69	4,518.60

As of December 31, 2022, the nominal value of the agreed cash flows in US dollars of the CCS contracts were ThUS$ 512,236 (ThUS$ 549,239 as of December 31, 2021).

4.3Risk measurement

The Company documents and maintains methods for qualitatively measuring the effectiveness and efficiency of financial risk management strategies. These methods are consistent with SQM Group’s risk management profile.

Disclosures on equity (Tables)

12 Months Ended

Dec. 31, 2022

Disclosures on equity

Schedule of controls capital management

The Company’s management controls capital management based on the following ratios:


	As of December 31,		As of December 31,
Capital Management	2022		2021		Description (1)	Calculation (1)
Net Financial Debt (ThUS$)	(721,980)		204,692		Financial Debt – Financial Resources	Other current Financial Liabilities + Other Non-Current Financial Liabilities– Cash and Cash Equivalents – Other Current Financial Assets – Hedging Assets, non-current
Liquidity	2.29		4.62		Current Assets divided by Current Liabilities	Total Current Assets / Total Current Liabilities
ROE	79.37	%	18.41	%	Profit for the year divided by Total Equity	Profit for the year / Equity
Adjusted EBITDA (ThUS$)	5,838,439		1,185,453		Adjusted EBITDA	EBITDA – Other income – Other gains (losses) - Share of Profit of associates and joint ventures accounted for using the equity method + Other expenses by function + Net impairment gains on reversal (losses) of financial assets – Finance income – Currency differences.
EBITDA (ThUS$)	5,817,605		1,140,086		EBITDA	Profit (loss) + Depreciation and Amortization Expense adjustments + Finance Costs + Income Tax
ROA	78.61	%	21.29	%	Adjusted EBITDA – Depreciation divided by Total Assets net of financial resources less related parties’ investments	(Gross Profit – Administrative Expenses)/ (Total Assets – Cash and Cash Equivalents – Other Current Financial Assets – Other Non-Current Financial Assets – Equity accounted Investments) (LTM)
Indebtedness	(0.15)		0.06		Net Financial Debt on Equity	Net Financial Debt / Total Equity

Schedule of financial restrictions

The financial restrictions with respect to the bonds issued by the Company for the periods ended December 31, 2022 and 2021 are as follows.


	Financial restrictions (member)
	Financial	Financial	Financial	Financial
	restrictions	restrictions	restrictions	restrictions
As of December 31, 2022	(member)	(member)	(member)	(member)
Instrument with restriction	Bonds	Bonds	Bonds	Bank loans
Reporting party or subsidiary restriction
Creditor	Bondholders	Bondholders	Bondholders	Scotiabank
Registration number	H	Q	O	PB 70M
Name of financial indicator or ratio (See definition in Note 20.1)	NFD/Equity	NFD/Equity	NFD/Equity	NFD/Equity
Measurement frequency	Quarterly	Quarterly	Quarterly	Quarterly
Restriction (Range, value and unit of measure)	Must be less than 1.00	Must be less than 1.00	Must be less than 1.00	Must be less than 1.00
Indicator or ratio determined by the company	-0.15	-0.15	-0.15	-0.15
Fulfilled YES/NO	yes	yes	yes	yes


	Financial restrictions (member)
	Financial	Financial	Financial	Financial
	restrictions	restrictions	restrictions	restrictions
As of December 31, 2021	(member)	(member)	(member)	(member)
Instrument with restriction	Bonds	Bonds	Bonds	Bank loans
Reporting party or subsidiary restriction
Creditor	Bondholders	Bondholders	Bondholders	Scotiabank
Registration number	H	Q	O	PB 70M
Name of financial indicator or ratio (See definition in Note 20.1)	NFD/Equity	NFD/Equity	NFD/Equity	NFD/Equity
Measurement frequency	Quarterly	Quarterly	Quarterly	Quarterly
Restriction (Range, value and unit of measure)	Must be less than 1.00	Must be less than 1.00	Must be less than 1.00	Must be less than 1.00
Indicator or ratio determined by the company	0.06	0.06	0.06	0.06
Fulfilled YES/NO	yes	yes	yes	yes

Schedule of share issues

As of December 31, 2022, the Company has placed share issues in the market as described in note 1.6:


	As of December 31, 2022		As of December 31, 2021		As of December 31, 2020
Type of capital in preferred shares	Series A	Series B	Series A	Series B	Series A	Series B
Description of type of capital in shares
Number of authorized shares	142,819,552	142,818,904	142,819,552	142,818,904	142,819,552	120,376,972
Number of fully subscribed and paid shares	142,819,552	142,818,904	142,819,552	142,818,904	142,819,552	120,376,972
Number of subscribed, partially paid shares	—	—	—	—	—	—
Increase (decrease) in the number of current shares	—	—	—	—	—	—
Number of outstanding shares	142,818,904	142,818,904	142,818,904	142,818,904	142,819,552	120,376,972
Number of shares owned by the Company or its subsidiaries or associates	648	—	648	—	—	—
Number of shares whose issuance is reserved due to the existence of options or agreements to dispose shares	—	—	—	—	—	—
Capital amount in shares ThUS$	134,750	1,442,893	134,750	1,442,893	134,750	342,636
Total number of subscribed shares	142,819,552	142,818,904	142,819,552	142,818,904	142,819,552	120,376,972

19.4Disclosures on reserves in Equity and non-controlling interests

As of December 31, 2022, 2021 and 2020, this caption comprises the following:


	As of	As of	As of
	December 31,	December 31,	December 31,
Disclosures on reserves in equity	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Reserve for currency exchange conversion (1)	(8,042)	(7,913)	(11,569)
Reserve for cash flow hedges (2)	(14,575)	(34,025)	4,491
Reserve for gains and losses from financial assets measured at fair value through other comprehensive income (3)	(10,973)	(11,146)	6,872
Reserve for actuarial gains or losses in defined benefit plans (4)	(9,198)	(4,174)	(8,680)
Other reserves	11,663	13,103	16,318
Total	(31,125)	(44,155)	7,432

(1)	This balance reflects retained earnings for changes in the exchange rate when converting the financial statements of subsidiaries whose functional currency is different from the US dollar.

(2)	The Company maintains, as hedge instruments, financial derivatives related to obligations with the public issued in UF and Chilean pesos, Changes from the fair value of derivatives designated and classified as hedges are recognized under this classification.

(3)

This caption includes the fair value of equity investments that are not held for trading and that the group has irrevocably opted to recognize in this category upon initial recognition. In the event that such equity instruments are fully or partially disposed of, the proportional accumulated effect of accumulated fair value will be transferred to retained earnings.

(4)	This caption reflects the effects of changes in actuarial assumptions, mainly changes in the discount rate.

Schedule of movement in other reserves

Movements in other reserves and changes in interest were as follows:


	Foreign					Reserve for gains (losses)
	currency					from financial assets
	translation			Reserve for actuarial gains		measured at fair value
	difference	Reserve for cash flow		and losses from defined		through other		Other
	(1)	hedges		benefit plans		comprehensive income		reserves	Total reserves
	Before	Before		Before	Deferred	Before	Deferred	Before		Deferred	Total
Movements	taxes	taxes	Tax	taxes	taxes	Taxes	taxes	taxes	Reserves	taxes	reserves
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
Opening balance as of January 1, 2020	(25,745)	9,879	(2,683)	(11,482)	1,992	392	(662)	14,086	(12,870)	(1,353)	(14,223)
Movement of reserves	(404)	(461)	1,001	955	(145)	9,784	(2,642)	2,537	9,166	(1,786)	7,380
Reclassification adjustments	14,580	(3,245)	—	—	—	—	—	(305)	14,275	—	14,275
Closing balance as of December 31, 2020	(11,569)	6,173	(1,682)	(10,527)	1,847	10,176	(3,304)	16,318	10,571	(3,139)	7,432
Movement of reserves	4,046	(66,051)	14,246	4,648	(142)	(12,072)	3,818	134	(56,006)	17,922	(38,084)
Reclassification adjustments	(390)	13,289	—	—	—	—	—	(3,349)	(3,739)	—	(3,739)
Reclassification to retained earnings	—	—	—	—	—	(13,375)	3,611	—	(13,375)	3,611	(9,764)
Closing balance as of December 31, 2021	(7,913)	(46,589)	12,564	(5,879)	1,705	(15,271)	4,125	13,103	(62,549)	18,394	(44,155)
Movement of reserves	(129)	36,079	(7,172)	(6,276)	1,252	190	(17)	(985)	28,879	(5,937)	22,942
Reclassification adjustments	—	(9,457)	—	—	—	—	—	(455)	(9,912)	—	(9,912)
Reclassification to retained earnings	—	—	—	—	—	—	—	—	—	—	—
Closing balance as of December 31, 2022	(8,042)	(19,967)	5,392	(12,155)	2,957	(15,081)	4,108	11,663	(43,582)	12,457	(31,125)

(1)	See details on reserves for foreign currency translation differences on conversion in Note 23, letter b).

Schedule of legal reserves reported in the individual financial statements of the subsidiaries


	As of	As of	As of
	December 31,	December 31,	December 31,
Subsidiary – Associate	2022	2021	2020
	ThUS$	ThUS$	ThUS$
SQM Iberian S.A.	9,464	9,464	9,464
SQM Europe NV	1,957	1,957	1,957
Soquimich European holding B.V.	828	828	828
Abu Dhabi Fertilizer Industries WWL	—	455	455
Kore Potash PLC	—	—	3,414
Soquimich Comercial S.A.	(401)	—	—
SQM Vitas Fzco.	85	(38)	(244)
Pavoni & C. Spa	7	7	—
SQM Iberian S.A.	(1,677)	(1,677)	(1,677)
Orcoma Estudios SPA	2,121	2,121	2,121
SQM Industrial S.A.	—	707	—
Others	(721)	(721)	—
Total Other reserves	11,663	13,103	16,318

Schedule of noncontrolling interests


	% of interests in the	Profit (loss) attributable to non-controlling interests for the year ended		Equity, non-controlling interests for the year ended		Dividends paid to non-controlling interests for the year ended
	ownership held by non-	As of	As of	As of	As of	As of	As of
Subsidiary	controlling interests	December 31, 2022	December 31, 2021	December 31, 2022	December 31, 2021	December 31, 2022	December 31, 2021
		ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
SQM Potasio S.A.	0.0000001%	—	—	—	—	—	—
Ajay SQM Chile S.A.	4900000%	2,415	769	8,986	8,382	1,812	577
Soquimich Comercial S.A.	3936168%	5,558	5,926	26,383	26,665	5,558	11,831
Comercial Agrorama Ltda.	3000000%	—	56	—	(596)	—	—
SQM Indonesia S.A.	2000000%	—	—	—	—	—	—
SQM Thailand Limited	0.00200%	—	—	—	—	—	—
Total		7,973	6,751	35,369	34,451	7,370	12,408

Schedule of dividends

Dividends discounted from equity from January to December 2022 and 2021 were the following:


	As of	As of	As of
	December 31,	December 31,	December 31,
Dividends	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Interim dividend	2,204,229	157,774	44,986
Special dividend	—	399,998	100,000
Dividends payable	—	27,681	4,369
Owners of the Parent	2,204,229	585,453	149,355
Special dividend	—	5,904	5,904
Dividends according to policy	7,369	6,504	4,214
Non-controlling interests	7,369	12,408	10,118
Dividends discounted from equity for the period	2,211,598	597,861	159,473

Effect of fluctuations in foreign currency exchange rates

12 Months Ended

Dec. 31, 2022

Effect of fluctuations in foreign currency exchange rates

Effect of fluctuations in foreign currency exchange rates

Note 23 Effect of fluctuations in foreign currency exchange rates

(a)Reserves for foreign currency exchange differences:

As of December 31, 2022, and 2021, are detailed as follows:


	As of	As of	As of
	December 31,	December 31,	December 31,
Details	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Changes in equity generated by the equity method value through conversion:
Comercial Hydro S.A.	1,004	1,004	1,004
SQMC Internacional Ltda.	(9)	(9)	(9)
Proinsa Ltda.	(10)	(10)	(10)
Comercial Agrorama Ltda.	175	155	(19)
Isapre Norte Grande Ltda.	(130)	(121)	(14)
Almacenes y Depósitos Ltda.	568	305	211
Sacal S.A.	(3)	(3)	(3)
Sociedad Prestadora de Servicios de Salud Cruz del Norte S.A.	(38)	(36)	(13)
Agrorama S.A.	666	628	92
SQM Vitas Fzco	(3,614)	(4,165)	(3,736)
Ajay Europe	(1,911)	(1,413)	(693)
SQM Oceanía Pty Ltd.	(579)	(579)	(579)
SQM Indonesia S.A.	(124)	(124)	(124)
Abu Dhabi Fertillizers Industries WWL.	—	372	372
SQM Holland B.V.	99	99	99
SQM Thailand Limited	(68)	(68)	(68)
SQM Europe	(1,983)	(1,983)	(1,983)
SQM Australia Pty Ltd.	(1,642)	(1,732)	(4,052)
Pavoni & C. Spa	(363)	(153)	164
Kore Potash PLC (a)	—	—	(2,128)
SQM Colombia S.A.S.	(80)	(80)	(80)
Total	(8,042)	(7,913)	(11,569)

(c)Functional and presentation currency

The functional currency of these companies corresponds to the currency of the country of origin of each entity, and its presentation currency is the dollar.

(d)Reasons to use one presentation currency and a different functional currency

-A relevant portion of the revenues of these subsidiaries are associated with the local currency.

-The cost structure of these companies is affected by the local currency.

Income tax and deferred taxes - Current Tax Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Statement [Line Items]
Current tax liabilities, current	$ 356,611	$ 166,935
1st Category income tax
Statement [Line Items]
Current tax liabilities, current	337,245	139,842
Foreign company income tax
Statement [Line Items]
Current tax liabilities, current	$ 19,366	27,055
Article 21 single tax
Statement [Line Items]
Current tax liabilities, current		$ 38

Financial instruments - Payments Made on Series P Bonds (Details) - Series P bonds - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Interest payment
Financial instruments [Line Items]
Repayments of bonds, notes and debentures	$ 3,385	$ 3,835	$ 3,534
CCS Coverage
Financial instruments [Line Items]
Repayments of bonds, notes and debentures	$ 3,569	$ 3,119	$ 3,439

Disclosures on equity - Movements in Other Reserves and Changes in Interest (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of Disclosures on equity [Line Items]
Opening balance	$ (44,155)	$ 7,432	$ (14,223)
Movement of reserves	22,942	(38,084)	7,380
Reclassification adjustments	(9,912)	(3,739)	14,275
Reclassification to retained earnings		(9,764)
Closing balance	(31,125)	(44,155)	7,432
Foreign currency translation difference before taxes
Disclosure of Disclosures on equity [Line Items]
Opening balance	(7,913)	(11,569)	(25,745)
Movement of reserves	(129)	4,046	(404)
Reclassification adjustments		(390)	14,580
Closing balance	(8,042)	(7,913)	(11,569)
Reserve for cash flow hedges before taxes
Disclosure of Disclosures on equity [Line Items]
Opening balance	(46,589)	6,173	9,879
Movement of reserves	36,079	(66,051)	(461)
Reclassification adjustments	(9,457)	13,289	(3,245)
Closing balance	(19,967)	(46,589)	6,173
Reserve for cash flow hedges tax
Disclosure of Disclosures on equity [Line Items]
Opening balance	12,564	(1,682)	(2,683)
Movement of reserves	(7,172)	14,246	1,001
Closing balance	5,392	12,564	(1,682)
Reserve for actuarial gains and losses from defined benefit plans before taxes
Disclosure of Disclosures on equity [Line Items]
Opening balance	(5,879)	(10,527)	(11,482)
Movement of reserves	(6,276)	4,648	955
Closing balance	(12,155)	(5,879)	(10,527)
Reserve for actuarial gains and losses from defined benefit plans deferred taxes
Disclosure of Disclosures on equity [Line Items]
Opening balance	1,705	1,847	1,992
Movement of reserves	1,252	(142)	(145)
Closing balance	2,957	1,705	1,847
Reserve for gains (losses) from financial assets measured at fair value through other comprehensive income before taxes
Disclosure of Disclosures on equity [Line Items]
Opening balance	(15,271)	10,176	392
Movement of reserves	190	(12,072)	9,784
Reclassification to retained earnings		(13,375)
Closing balance	(15,081)	(15,271)	10,176
Reserve for gains (losses) from financial assets measured at fair value through other comprehensive income deferred taxes
Disclosure of Disclosures on equity [Line Items]
Opening balance	4,125	(3,304)	(662)
Movement of reserves	(17)	3,818	(2,642)
Reclassification to retained earnings		3,611
Closing balance	4,108	4,125	(3,304)
Other reserves, before taxes
Disclosure of Disclosures on equity [Line Items]
Opening balance	13,103	16,318	14,086
Movement of reserves	(985)	134	2,537
Reclassification adjustments	(455)	(3,349)	(305)
Closing balance	11,663	13,103	16,318
Total reserves, reserves
Disclosure of Disclosures on equity [Line Items]
Opening balance	(62,549)	10,571	(12,870)
Movement of reserves	28,879	(56,006)	9,166
Reclassification adjustments	(9,912)	(3,739)	14,275
Reclassification to retained earnings		(13,375)
Closing balance	(43,582)	(62,549)	10,571
Total reserves, deferred taxes
Disclosure of Disclosures on equity [Line Items]
Opening balance	18,394	(3,139)	(1,353)
Movement of reserves	(5,937)	17,922	(1,786)
Reclassification to retained earnings		3,611
Closing balance	$ 12,457	$ 18,394	$ (3,139)

Financial instruments - Other Current and Non-Current Financial Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Financial instruments [Line Items]
Current	$ 522,999	$ 51,305
Non-current	2,394,218	2,587,732
Total	2,917,217	2,639,037
Bank borrowings \| Financial liabilities at amortised cost
Financial instruments [Line Items]
Current	130,840	85
Non-current	197,522	69,613
Total	328,362	69,698
Obligations public \| Financial liabilities at amortised cost
Financial instruments [Line Items]
Current	343,589	40,594
Non-current	2,176,924	2,445,219
Total	2,520,513	2,485,813
For hedging \| Financial assets at fair value through profit or loss, classified as held for trading
Financial instruments [Line Items]
Current	42,754	8,954
Non-current	19,772	72,900
Total	62,526	81,854
Non-hedging liabilities \| Financial assets at fair value through profit or loss, classified as held for trading
Financial instruments [Line Items]
Current	5,816	1,672
Non-current	0	0
Total	$ 5,816	$ 1,672

Employee benefits - Changes in the Benefit Obligation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Employee benefits
Opening balance	$ 9,550	$ 9,864	$ 9,586
Current cost of service	0	0	0
Interest cost	255	240	280
Actuarial gains loss	(1,357)	(135)	506
Settlement	(7,739)
Benefits paid	(430)	(419)	(508)
Total benefit obligation (A)	$ 279	$ 9,550	$ 9,864

Identification and activities of the Company and Subsidiaries - Main Shareholders of the Company - Narratives (Details) $ / shares in Units, $ in Thousands			12 Months Ended
	Apr. 28, 2021 USD ($) $ / shares shares	Apr. 19, 2021 shares	Dec. 31, 2022 shareholder shares	Dec. 31, 2021 USD ($) shares	Jan. 22, 2021 $ / shares
Identification and Activities of the Company and Subsidiaries [Line Items]
Percentage of shareholder outstanding shares interest in excess			5.00%	5.00%
Number of shareholders \| shareholder			1,157
Increase through other contributions by owners, equity \| $	$ 1,100,000			$ 1,100,257
Share capital \| $	1,100,000
Other equity interest \| $	$ 24,503
Series B stock
Identification and Activities of the Company and Subsidiaries [Line Items]
Par value per share \| $ / shares					$ 50
Series B stock \| Pre-emptive rights offering
Identification and Activities of the Company and Subsidiaries [Line Items]
Number of shares authorised		22,441,932
Number of shares issued and fully paid		21,687,549
Number of shares issued but not fully paid	754,383
Percentage of shares offered in preemptive rights offerings		97.00%
Par value per share \| $ / shares	$ 54
Inversiones TLC SpA
Identification and Activities of the Company and Subsidiaries [Line Items]
Percentage of voting equity held by entity or by its subsidiaries			21.90%	21.90%
Inversiones TLC SpA \| Series A stock
Identification and Activities of the Company and Subsidiaries [Line Items]
Number of shares outstanding			62,556,568	62,556,568
Number of shares in entity held by entity or by its subsidiaries or associates			62,556,568	62,556,568
Inversiones TLC SpA \| Series B stock
Identification and Activities of the Company and Subsidiaries [Line Items]
Number of shares outstanding			0	0
Number of shares in entity held by entity or by its subsidiaries or associates			748,490
Inversiones TLC SpA \| Series A and B stock
Identification and Activities of the Company and Subsidiaries [Line Items]
Percentage of voting equity held by entity or by its subsidiaries			22.16%	23.75%
Sociedad de Inversiones Pampa Calichera S.A. \| Series A stock
Identification and Activities of the Company and Subsidiaries [Line Items]
Number of shares outstanding			43,133,789	44,989,231
Number of shares outstanding, including those held by brokers			46,600,458
Number of shares in entity held by entity or by its subsidiaries or associates			1,855,442
Sociedad de Inversiones Pampa Calichera S.A. \| Series B stock
Identification and Activities of the Company and Subsidiaries [Line Items]
Number of shares outstanding			1,611,227	0
Number of shares in entity held by entity or by its subsidiaries or associates				2,490,965
Sociedad de Inversiones Pampa Calichera S.A. \| Series A and B stock
Identification and Activities of the Company and Subsidiaries [Line Items]
Number of shares outstanding				47,480,196

Financial instruments - Payments Made on Single Series Bonds, Fourth Issue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Single series bond Four \| Interest payment
Financial instruments [Line Items]
Repayments of bonds, notes and debentures	$ 10,938	$ 10,938	$ 10,938

Related party disclosures - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Related party disclosures [Line Items]
Provision for receivables	$ 8,815	$ 13,999
Related parties
Related party disclosures [Line Items]
Provision for receivables	$ 1,378	$ 717

Financial instruments - Description of Other Financial Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Financial instruments [Line Items]
Other non-current financial assets	$ 32,126	$ 9,268
Other current financial assets	961,355	919,049
Financial instruments for hedging purposes
Financial instruments [Line Items]
Other non-current financial assets	22,606	245
Other current financial assets	7,014	12,625
Financial assets at amortized cost
Financial instruments [Line Items]
Other non-current financial assets	23	91
Other current financial assets	950,167	905,170
Financial assets at fair value through other comprehensive income
Financial instruments [Line Items]
Other non-current financial assets	9,497	8,932
Non-hedging
Financial instruments [Line Items]
Other current financial assets	$ 4,174	$ 1,254

Inventories - Type of Inventory (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Inventories
Raw material	$ 27,035	$ 12,508
Production supplies	68,426	41,114
Products-in-progress	590,946	527,118
Finished product	1,097,874	603,036
Total	$ 1,784,281	$ 1,183,776

Income tax and deferred taxes - Income Tax (Expenses) Benefit for Foreign and Domestic Parties (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Current income tax expense by foreign and domestic parties, net
Current income tax expense	$ (2,003,190)	$ (276,779)	$ (99,275)
Deferred tax expense by foreign and domestic parties, net
Deferred tax expense	(430,978)	(27,763)	(29,096)
Income tax expense	(1,572,212)	(249,016)	(70,179)
Foreign countries
Current income tax expense by foreign and domestic parties, net
Current income tax expense	(213,060)	(46,748)	(9,782)
Deferred tax expense by foreign and domestic parties, net
Deferred tax expense	21,338	6,679	(10,284)
Country of domicile
Current income tax expense by foreign and domestic parties, net
Current income tax expense	(1,790,130)	(230,031)	(89,493)
Deferred tax expense by foreign and domestic parties, net
Deferred tax expense	$ (452,316)	$ (34,442)	$ (18,812)

- Definition

The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax. [Refer: Current tax expense (income); Deferred tax expense (income)]

+ References + Details

Effect of fluctuations in foreign currency exchange rates - (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Changes in equity [abstract]
Reserve for currency exchange conversion	$ (8,042)	$ (7,913)	$ (11,569)
Comercial Hydro S.A.
Changes in equity [abstract]
Reserve for currency exchange conversion	1,004	1,004	1,004
SQMC Internacional Ltda.
Changes in equity [abstract]
Reserve for currency exchange conversion	(9)	(9)	(9)
Proinsa Ltda.
Changes in equity [abstract]
Reserve for currency exchange conversion	(10)	(10)	(10)
Comercial Agrorama Ltda.
Changes in equity [abstract]
Reserve for currency exchange conversion	175	155	(19)
Isapre Norte Grande Ltda.
Changes in equity [abstract]
Reserve for currency exchange conversion	(130)	(121)	(14)
Almacenes y Depsitos Ltda.
Changes in equity [abstract]
Reserve for currency exchange conversion	568	305	211
Sacal S.A.
Changes in equity [abstract]
Reserve for currency exchange conversion	(3)	(3)	(3)
Sociedad Prestadora de Servicios de Salud Cruz del Norte S.A.
Changes in equity [abstract]
Reserve for currency exchange conversion	(38)	(36)	(13)
Argrorama S.A.
Changes in equity [abstract]
Reserve for currency exchange conversion	666	628	92
SQM Vitas Fzco.
Changes in equity [abstract]
Reserve for currency exchange conversion	(3,614)	(4,165)	(3,736)
Ajay Europe
Changes in equity [abstract]
Reserve for currency exchange conversion	(1,911)	(1,413)	(693)
SQM Oceana Pty Ltd.
Changes in equity [abstract]
Reserve for currency exchange conversion	(579)	(579)	(579)
SQM Indonesia S.A.
Changes in equity [abstract]
Reserve for currency exchange conversion	(124)	(124)	(124)
Abu Dhabi Fertillizers Industries WWL.
Changes in equity [abstract]
Reserve for currency exchange conversion	0	372	372
SQM Holland B.V.
Changes in equity [abstract]
Reserve for currency exchange conversion	99	99	99
SQM Thailand Limited
Changes in equity [abstract]
Reserve for currency exchange conversion	(68)	(68)	(68)
SQM Europe
Changes in equity [abstract]
Reserve for currency exchange conversion	(1,983)	(1,983)	(1,983)
SQM Australia Pty Ltd.
Changes in equity [abstract]
Reserve for currency exchange conversion	(1,642)	(1,732)	(4,052)
Pavoni & C. Spa
Changes in equity [abstract]
Reserve for currency exchange conversion	(363)	(153)	164
Kore Potash PLC
Changes in equity [abstract]
Reserve for currency exchange conversion	0	0	(2,128)
SQM Colombia S.A.S.
Changes in equity [abstract]
Reserve for currency exchange conversion	$ (80)	$ (80)	$ (80)

Basis of presentation for the consolidated financial statements

12 Months Ended

Dec. 31, 2022

Basis of presentation for the consolidated financial statements

Basis of presentation for the consolidated financial statements

Note 2Basis of presentation for the consolidated financial statements

2.1Accounting period

These consolidated financial statements cover the following periods:

(a)	Consolidated Statements of Financial Position as of December 31, 2022 and 2021.

(b)	Consolidated Statements of Income from January 1 to December 31, 2022, 2021 and 2020.

(c)	Consolidated Statements of Comprehensive Income from January 1 to December 31, 2022, 2021 and 2020.

(d)	Consolidated Statements of Changes in Equity for the years ended December 31, 2022, 2021 and 2020.

(e)	Consolidated Statements of Cash Flows for the years ended December 31, 2022, 2021 and 2020.

2.2Consolidated financial statements

The consolidated financial statements of the Company and its subsidiaries have been prepared in accordance with IFRS as issued by the IASB and they represent the full, explicit and unreserved adoption of IFRS.

These consolidated financial statements fairly present the Company’s financial position, as of December 31, 2022 and 2021, the comprehensive results of operations, changes in equity and cash flows occurring for the three years ended December 31, 2022, 2021 and 2020.

IFRS establish certain alternatives for their application, those applied by the Company are detailed in this Note and Note 3.

The accounting policies used in the preparation of these consolidated financial statements comply with each IFRS in force at their date of presentation.

2.2.1 Revision of previously issued financial statements

(a)

The Company has revised its consolidated statement of financial position as of December 31, 2021 to correct the presentation of deferred tax assets and liabilities as follows(see Note 25.3).


	Original balances		Balances
	reported as of	Reclassification	reclassified as of
Items	December 31, 2021		December 31, 2021
	ThUS$	ThUS$	ThUS$
Deferred tax assets	—	135,904	135,904
Deferred tax liabilities	110,416	135,904	246,320

This revision is not considered material to the previously issued financial statements.

(b)

The Company identified an error in the presentation of the earnings per share information in the Consolidated Statements of Income for the years ended December 31, 2021 and 2020 whereby the 2020 basic and diluted earnings per share amounts were incorrectly presented in the 2021 column, the 2019 basic and diluted earnings per share amounts were incorrectly presented in the 2020 column, and the 2021 basic and diluted earnings per share amounts were inadvertently omitted. The Company assessed the materiality of the error on the previously

issued consolidated financial statements and concluded that the error was not material to the previously issued financial statements. The impact of the revision of the previously issued financial statements is as follows:


	Original earnings per share	Corrected earnings per share
	reported for the year ended	reported for the year ended
Items	December 31, 2021	December 31, 2021
	US$	US$
Basic	0.6251	2.1048
Diluted	0.6251	2.1048


	Original earnings per share	Corrected earnings per share
	reported for the year ended	reported for the year ended
Items	December 31, 2020	December 31, 2020
	US$	US$
Basic	1.0567	0.6251
Diluted	1.0567	0.6251

2.3Basis of measurement

The consolidated financial statements have been prepared on the historical cost basis except for the following:

(a)	Inventories are recorded at the lower of cost and net realizable value.

(b)	Financial derivatives measured at fair value.

(c)	Certain financial investments measured at fair value with an offsetting entry in other comprehensive income.

2.4Accounting pronouncements

New accounting pronouncements

(a)	The following standards, interpretations and amendments are mandatory for the first time for annual periods beginning on January 1, 2022:


		Mandatory for annual periods
Amendments and improvements	Description	beginning on or after
Reference the Conceptual Framework, amendments to IFRS 3	Minor changes were made to the IFRS 3 “Business Combinations” to update the references to the conceptual framework for financial reporting without changing the requirements for business combinations.	01-01-2022
Amendment to IAS 16, "Property, Plant and Equipment."	Prohibits a company from deducting from the cost of property, plant and equipment amounts received from selling items produced while the company is preparing the asset for its intended use. Instead, a company will recognize such sales proceeds and related cost in profit or loss.	01-01-2022
Amendment to IAS 37, "Provisions, Contingent Liabilities and Contingent Assets".	Clarifies for onerous contracts what unavoidable costs a company must include to evaluate whether a contract generates losses.	01-01-2022
Annual Improvements to IFRS Standards 2018-2020 The following improvements were finalized in May 2020:
IFRS 9 Financial Instruments.	Clarifies what fees must be included in the "10 percent" test when evaluating whether to derecognize a financial liability	01-01-2022
IFRS 16 Leases	The amendment to illustrative example 13 removes the illustration of the reimbursement of improvements to the leased asset made by the lessor to resolve any potential confusion in the treatment of lease incentives.	01-01-2022

Management determined that the adoption of the aforementioned standards, amendments and interpretations did not significantly impact the company’s consolidated financial statements.

(b)	Standards, interpretations and amendments issued that had not become effective for financial statements beginning on January 1, 2022 and which the Company has not adopted early are as follows:


		Mandatory for annual periods
Standards and Interpretations	Description	beginning on or after
Amendment to IAS 1 “Presentation of financial statements” on classification of liabilities.	These amendments clarify that the liabilities will be classified as current or non-current depending on the rights that exist at the close of the reporting period. The classification is not affected by the expectations of the entity or the events subsequent to the report date (for example, the receipt of a waiver or noncompliance with the pact). The amendment also clarifies what IAS 1 means when referring to “liquidation” of a liability. The amendment must be applied retroactively in accordance with IAS 8. Effective date of application January 1, 2022; however, such date was deferred to January 1, 2024.	01-01-2024
Amendment to IAS 1 “Non-current liabilities with covenants”.	The amendment is aimed at improving the information that an entity provides when the payment terms of its liabilities can be deferred depending on compliance with covenants within the twelve months following the date of issue of the financial statements.	01-01-2024
Amendments to IFRS 16 “Leases”	On sales with leaseback, which explains how an entity should recognize the rights to use the asset and how the profits or losses from the sale and leaseback should be recognized in the financial statements.	01-01-2024
Amendments to IAS 1: “Presentation of the Financial Statements” and IAS 8 “Accounting policies, changes in accounting estimates and errors”.	The amendments are intended to improve disclosures of accounting policies and to help users of financial statements distinguish between changes in accounting estimates and changes in accounting policies.	01-01-2023
Amendment to IAS 12 - Deferred taxes related to assets and liabilities that arise from a single transaction.	These amendments require companies to recognize deferred taxes on transactions that result in equal amounts in taxable and deductible temporary differences in the initial recognition.	01-01-2023
Amendment to IFRS 10 “Consolidated Financial Statements” and IAS 28 “Investments in Associates and Joint Ventures”, Published in September 2014.	These amendments address an inconsistency between the requirements in IFRS 10 and those in IAS 28 in dealing with the sale or contribution of assets between an investor and its associate or joint venture. The main consequence of the amendments is that a full gain or loss is recognized when a transaction involves a business -whether it is housed in a subsidiary or not. A partial gain or loss is recognized when a transaction involves assets that do not constitute a business, even if these assets are housed in a subsidiary.	undetermined

Management believes that the adoption of the above standards, amendments and interpretations will not have a significant impact on the Company’s financial statements.

2.5Basis of consolidation

(a)	Subsidiaries

The Company established control as the basis of consolidation of its financial statements. The Company controls a subsidiary when it is exposed, or has rights, to variable returns from its involvement with the subsidiary and has the ability to affect those returns through its power over the subsidiary.

The consolidation of a subsidiary starts when the Group controls it and it is no longer included in the consolidation when this control is lost.

Subsidiaries are consolidated through a line by line method, adding items that represent assets, liabilities, income and expenses with a similar content, and eliminating operations between companies within the SQM Group.

Results for dependent companies acquired or disposed of during the period are included in the consolidated accounts from the date on which control is transferred to the SQM Group or until the date when this control ends, as relevant.

To account for an acquisition of a business, the Company uses the acquisition method. Under this method, the acquisition cost is the fair value of assets delivered, equity securities issued, and incurred or assumed liabilities at the date of exchange. Assets, liabilities and contingencies identifiable assumed in a business combination are measured initially at fair value at the acquisition date. For each business combination, the Company will measure the non-controlling interest of the acquiree either at fair value or as proportional share of net identifiable assets of the acquire.

The following tables lists the principal subsidiaries controlled by the Group as of December 31,2022:


			Country of	Functional	Ownership Interest
Subsidiaries	TAX ID No.	Address	Incorporation	Currency	Direct	Indirect	Total
SQM Nitratos S.A.	96.592.190-7	El Trovador 4285, Las Condes	Chile	Dollar	99.9999	0.0001	100.0000
SQM Potasio S.A.	96.651.060-9	El Trovador 4285, Las Condes	Chile	Dollar	99.9999	0.0001	100.0000
Serv. Integrales de Tránsito y Transf. S.A.	79.770.780-5	Arturo Prat 1060, Tocopilla	Chile	Dollar	0.0003	99.9997	100.0000
Isapre Norte Grande Ltda.	79.906.120-1	Aníbal Pinto 3228, Antofagasta	Chile	Peso	1.0000	99.0000	100.0000
Ajay SQM Chile S.A.	96.592.180-K	Av. Pdte. Eduardo Frei 4900, Santiago	Chile	Dollar	51.000	-	51.000
Almacenes y Depósitos Ltda.	79.876.080-7	El Trovador 4285, Las Condes	Chile	Peso	1.0000	99.0000	100.0000
SQM Salar S.A.	79.626.800-K	El Trovador 4285, Las Condes	Chile	Dollar	18.1800	81.8200	100.0000
SQM Industrial S.A.	79.947.100-0	El Trovador 4285, Las Condes	Chile	Dollar	99.0470	0.9530	100.0000
Exploraciones Mineras S.A.	76.425.380-9	El Trovador 4285, Las Condes	Chile	Dollar	0.2691	99.7309	100.0000
Sociedad Prestadora de Servicios de Salud Cruz del Norte S.A.	76.534.490-5	Aníbal Pinto 3228, Antofagasta	Chile	Peso	-	100.0000	100.0000
Soquimich Comercial S.A.	79.768.170-9	El Trovador 4285, Las Condes	Chile	Dollar	-	60.6383	60.6383
Comercial Agrorama Ltda. (1)	76.064.419-6	El Trovador 4285, Las Condes	Chile	Dollar	-	60.6383	60.6383
Comercial Hydro S.A.	96.801.610-5	El Trovador 4285, Las Condes	Chile	Dollar	-	100.0000	100.0000
Agrorama S.A.	76.145.229-0	El Trovador 4285, Las Condes	Chile	Dollar	-	60.6383	60.6383
Orcoma Estudios SPA	76.359.919-1	Apoquindo 3721 OF 131, Las Condes	Chile	Dollar	100.0000	-	100.0000
Orcoma SPA	76.360.575-2	Apoquindo 3721 OF 131, Las Condes	Chile	Dollar	100.0000	-	100.0000
SQM MaG SpA	76.686.311-9	Los Militares 4290, Las Condes	Chile	Dollar	-	100.0000	100.0000
Sociedad Contractual Minera Búfalo	77.114.779-8	Los Militares 4290, Las Condes	Chile	Dollar	99.9000	0.1000	100.0000
SQM North America Corp.	Foreign	2727 Paces Ferry Road, Building Two, Suite 1425, Atlanta, GA	United States of America	Dollar	40.0000	60.0000	100.0000
RS Agro Chemical Trading Corporation A.V.V.	Foreign	Caya Ernesto O. Petronia 17, Orangestad	Aruba	Dollar	98.3333	1.6667	100.0000
Nitratos Naturais do Chile Ltda.	Foreign	Al. Tocantis 75, 6° Andar, Conunto 608 Edif. West Gate, Alphaville Barureri, CEP 06455-020, Sao Paulo	Brazil	Dollar	-	100.0000	100.0000
SQM Corporation N.V.	Foreign	Pietermaai 123, P.O. Box 897, Willemstad, Curacao	Curacao	Dollar	0.0002	99.9998	100.0000
SQM Perú S.A. (2)	Foreign	Avenida Camino Real N° 348 of. 702, San Isidro, Lima	Perú	Dollar	0.0091	99.9909	100.0000
SQM Ecuador S.A.	Foreign	Av. José Orrantia y Av. Juan Tanca Marengo Edificio Executive Center Piso 2 Oficina 211	Ecuador	Dollar	0.00401	99.9960	100.0000
SQM Brasil Ltda.	Foreign	Al. Tocantis 75, 6° Andar, Conunto 608 Edif. West Gate, Alphaville Barureri, CEP 06455-020, Sao Paulo	Brazil	Dollar	0.5800	99.4200	100.0000
SQMC Holding Corporation.	Foreign	2727 Paces Ferry Road, Building Two, Suite 1425, Atlanta	United States of America	Dollar	0.1000	99.9000	100.0000
SQM Japan Co. Ltd.	Foreign	From 1st Bldg 207, 5-3-10 Minami- Aoyama, Minato-ku, Tokio	Japan	Dollar	0.1597	99.8403	100.0000

(1)

has control over the administration of Comercial Agrorama Ltda.

(2)

SQM Perú has been liquidated as of December 31, 2022.

Country of

Functional

Ownership Interest

Subsidiaries

TAX ID No.

Address

Incorporation

Currency

Direct

Indirect

Total

SQM Europe N.V.

Foreign

Houtdok-Noordkaai 25a B-2030 Amberes

Belgium

Dollar

0.5800

99.4200

100.0000

SQM Indonesia S.A.

Foreign

Perumahan Bumi Dirgantara Permai, Jl Suryadarma Blok Aw No 15 Rt 01/09 17436 Jatisari Pondok Gede

Indonesia

Dollar

80.0000

North American Trading Company

Foreign

2727 Paces Ferry Road, Building Two, Suite 1425, Atlanta, GA

United States of America

Dollar

100.0000

SQM Virginia LLC

Foreign

2727 Paces Ferry Road, Building Two, Suite 1425, Atlanta, GA

United States of America

Dollar

100.0000

SQM Comercial de México S.A. de C.V.

Foreign

Av. Moctezuma 144-4 Ciudad del Sol. CP 45050, Zapopan, Jalisco México

México

Dollar

0.0100

99.9900

100.0000

SQM Investment Corporation N.V.

Foreign

Pietermaai 123, P.O. Box 897, Willemstad, Curacao

Curacao

Dollar

1.0000

99.0000

100.0000

Royal Seed Trading Corporation A.V.V.

Foreign

Caya Ernesto O. Petronia 17, Orangestad

Aruba

Dollar

1.6700

98.3300

100.0000

SQM Lithium Specialties Limited Partnership

Foreign

2727 Paces Ferry Road, Building Two, Suite 1425, Atlanta, GA

United States of America

Dollar

100.0000

Comercial Caimán Internacional S.A.

Foreign

Edificio Plaza Bancomer

Panamá

Dollar

100.0000

SQM France S.A.

Foreign

ZAC des Pommiers 27930 FAUVILLE

France

Dollar

100.0000

Administración y Servicios Santiago S.A. de C.V.

Foreign

Av. Moctezuma 144-4 Ciudad del Sol, CP 45050, Zapopan, Jalisco México

México

Dollar

100.0000

SQM Nitratos México S.A. de C.V.

Foreign

Av. Moctezuma 144-4 Ciudad del Sol, CP 45050, Zapopan, Jalisco México

México

Dollar

100.0000

Soquimich European Holding B.V.

Foreign

Luna Arena, Herikerbergweg 238 1101 CM Amsterdan

Holland

Dollar

100.0000

SQM Iberian S.A.

Foreign

Provenza 251 Principal 1a CP 08008, Barcelona

Spain

Dollar

100.0000

SQM África Pty Ltd.

Foreign

Tramore House, 3 Wterford Office Park, Waterford Drive, 2191 Fourways, Johannesburg

South Africa

Dollar

100.0000

SQM Oceanía Pty Ltd.

Foreign

Level 9, 50 Park Street, Sydney NSW 2000, Sydney

Australia

Dollar

100.0000

SQM Beijing Commercial Co. Ltd.

Foreign

Room 1001C, CBD International Mansion N 16 Yong An Dong Li, Jian Wai Ave Beijing 100022, P.R.

China

Dollar

100.0000

SQM Thailand Limited

Foreign

Unit 2962, Level 29, N° 388, Exchange Tower Sukhumvit Road, Klongtoey Bangkok

Thailand

Dollar

99.9980

SQM Colombia SAS

Foreign

Cra 7 No 32 – 33 piso 29 Pbx: (571) 3384904 Fax: (571) 3384905 Bogotá D.C. – Colombia.

Colombia

Dollar

100.0000

SQM Australia PTY

Foreign

Level 16, 201 Elizabeth Street Sydney

Australia

Dollar

100.0000

SQM International N.V.

Foreign

Houtdok-Noordkaai 25a B-2030 Amberes

Belgium

Dollar

0.5800

99.4200

100.0000

SQM (Shanghai) Chemicals Co. Ltd.

Foreign

Room 4703-33, 47F, No.300 Middle Huaihai Road, Huangpu district, Shanghai

China

Dollar

100.0000

SQM Korea LLC

Foreign

Suite 22, Kyobo Building, 15th Floor, 1 Jongno Jongno-gu, Seoul, 03154 South Korea

Korea

Dollar

100.0000

SQM Holland B.V.

Foreign

Herikerbergweg 238, 1101 CM Amsterdam Zuidoost

Holland

Dollar

100.0000

2.6Investments in associates and joint ventures

Investments in joint arrangements are classified as joint operations or joint ventures. The classification depends on the contractual rights and obligations of each investor, rather than the legal structure of the joint arrangement.

(a)	Joint operations

The Company recognizes its direct right to the assets, liabilities, income and expenses of the joint arrangement.

(b)	Joint ventures and investments in associates

Interests in companies over which joint control is exercised (joint ventures) or where an entity has significant influence (associates) are recognized using the equity accounting method. Significant influence is presumed when the investor owns over 20% of the investee’s share capital. The investment is recognized using this method in the statement of financial position at cost plus changes subsequent to acquisition and includes the proportional share of the associate’s equity. For these purposes, the percentage interest in the associate is used. The associated acquired goodwill is included in the investee’s book value and is not amortized. The debit or credit to the income statement reflects the proportional share of the profit or loss of the associate.

Unrealized gains from transactions with joint ventures or associates are eliminated in accordance with the Company’s percentage interest in such entities. Any unrealized losses are also eliminated, unless that transaction provides evidence that the transferred asset is impaired.

Changes in associate’s or joint ventures equity are recognized proportionally with a charge or credit to "Other Reserves" and are classified according to their origin. The reporting dates of the associate or joint ventures, the Company and related policies are similar for equivalent transactions and events in similar circumstances. In the event that significant influence is lost, or the investment is sold, or held for sale, the equity method is suspended, not recognizing the proportional share of the gain or loss. If the resulting value under the equity method is negative, the share of profit or loss is reflected as zero in the consolidated financial statements, unless there is a commitment by the Company to restore the capital position of the Company, in which case the related risk provision and expense are recorded.

Dividends received by these companies are recorded by reducing the value of the investment and are shown in cash flows from operating activities, and the proportional share of the gain or loss recognized in accordance with the equity method is included in the consolidated income statement under "Share of Gains (Losses) of Associates and Joint Ventures Accounted for Using the Equity Method’’.

Consolidated Statements of Changes in Equity - USD ($) $ in Thousands	Share capital	Foreign currency translation reserves	Hedge reserves	Gains and losses from financial assets reserve	Actuarial gains and losses from defined benefit plans reserve	Accumulated other comprehensive income	Other miscellaneous reserves	Total reserves	Retained earnings	Equity attributable to owners of the Parent	Non-controlling interests	Total
Equity at beginning of the year at Dec. 31, 2019	$ 477,386	$ (25,745)	$ 7,196	$ (270)	$ (9,490)	$ (28,309)	$ 14,086	$ (14,223)	$ 1,623,104	$ 2,086,267	$ 48,205	$ 2,134,472
Net profit	0	0	0	0	0		0	0	164,518	164,518	3,841	168,359
Other comprehensive income	0	14,176	(2,705)	7,142	810	19,423	0	19,423	0	19,423	(157)	19,266
Total comprehensive income	0	14,176	(2,705)	7,142	810	19,423	0	19,423	164,518	183,941	3,684	187,625
Dividends	0	0	0	0	0		0	0	(149,355)	(149,355)	(10,118)	(159,473)
Other (decrease) increases in equity	0	0	0	0	0		2,232	2,232	0	2,232	(2,278)	(46)
Total changes in equity	0	14,176	(2,705)	7,142	810	19,423	2,232	21,655	15,163	36,818	(8,712)	28,106
Equity at end of the year at Dec. 31, 2020	477,386	(11,569)	4,491	6,872	(8,680)	(8,886)	16,318	7,432	1,638,267	2,123,085	39,493	2,162,578
Net profit	0	0	0	0	0		0	0	585,454	585,454	6,751	592,205
Other comprehensive income	0	3,656	(38,516)	(8,254)	4,506	(38,608)	0	(38,608)	0	(38,608)	615	(37,993)
Total comprehensive income	0	3,656	(38,516)	(8,254)	4,506	(38,608)	0	(38,608)	585,454	546,846	7,366	554,212
Sale of equity instruments irrevocably recognized in OCI	0	0	0	(9,764)	0	(9,764)	0	(9,764)	9,764	0	0
Dividends	0	0	0	0	0		0	0	(585,453)	(585,453)	(12,408)	(597,861)
Capital stock increase	1,100,257	0	0	0	0		0	0	0	1,100,257	0	1,100,257
Other (decrease) increases in equity	0	0	0	0	0		(3,215)	(3,215)	0	(3,215)	0	(3,215)
Total changes in equity	1,100,257	3,656	(38,516)	(18,018)	4,506	(48,372)	(3,215)	(51,587)	9,765	1,058,435	(5,042)	1,053,393
Equity at end of the year at Dec. 31, 2021	1,577,643	(7,913)	(34,025)	(11,146)	(4,174)	(57,258)	13,103	(44,155)	1,648,032	3,181,520	34,451	3,215,971
Net profit	0	0	0	0	0		0	0	3,906,311	3,906,311	7,973	3,914,284
Other comprehensive income	0	(129)	19,450	173	(5,024)	14,470	0	14,470	0	14,470	(179)	14,291
Total comprehensive income	0	(129)	19,450	173	(5,024)	14,470	0	14,470	3,906,311	3,920,781	7,794	3,928,575
Dividends	0	0	0	0	0		0	0	(2,204,229)	(2,204,229)	(7,369)	(2,211,598)
Other (decrease) increases in equity	0	0	0	0	0		(1,440)	(1,440)	0	(1,440)	493	(947)
Total changes in equity	0	(129)	19,450	173	(5,024)	14,470	(1,440)	13,030	1,702,082	1,715,112	918	1,716,030
Equity at end of the year at Dec. 31, 2022	$ 1,577,643	$ (8,042)	$ (14,575)	$ (10,973)	$ (9,198)	$ (42,788)	$ 11,663	$ (31,125)	$ 3,350,114	$ 4,896,632	$ 35,369	$ 4,932,001

- Definition

The amount of change in equity resulting from transactions and other events, other than those changes resulting from transactions with owners in their capacity as owners.

+ References + Details

- Definition

The amount of residual interest in the assets of the entity after deducting all its liabilities.

+ References + Details

- Definition

The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 7
-IssueDate 2022-03-24
-Paragraph 18
-Subparagraph b
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=7&code=ifrs-tx-2022-en-r&anchor=para_18_b&doctype=Standard
-URIDate 2022-03-24

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 1
-IssueDate 2022-03-24
-Paragraph 32
-Subparagraph a
-Clause ii
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=1&code=ifrs-tx-2022-en-r&anchor=para_32_a_ii&doctype=Standard
-URIDate 2022-03-24

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 1
-IssueDate 2022-03-24
-Paragraph 24
-Subparagraph b
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=1&code=ifrs-tx-2022-en-r&anchor=para_24_b&doctype=Standard
-URIDate 2022-03-24

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2022-03-24
-Paragraph 28
-Subparagraph b
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2022-en-r&anchor=para_28_b&doctype=Standard
-URIDate 2022-03-24

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Note Effective on first application of IFRS 9
-Name IFRS
-Number 4
-IssueDate 2022-03-24
-Paragraph 39L
-Subparagraph e
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=4&code=ifrs-tx-2022-en-b&anchor=para_39L_e&doctype=Standard
-URIDate 2022-03-24

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2022-03-24
-Paragraph 23
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2022-en-r&anchor=para_23&doctype=Standard
-URIDate 2022-03-24

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Name IFRS
-Number 12
-IssueDate 2022-03-24
-Paragraph B10
-Subparagraph b
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2022-en-r&anchor=para_B10_b&doctype=Appendix&subtype=B
-URIDate 2022-03-24

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Note Effective 2023-01-01
-Name IFRS
-Number 17
-IssueDate 2022-03-24
-Paragraph 113
-Subparagraph b
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=17&code=ifrs-tx-2022-en-r&anchor=para_113_b&doctype=Standard
-URIDate 2022-03-24

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
-IssueDate 2022-03-24
-Paragraph 81A
-Subparagraph a
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2022-en-r&anchor=para_81A_a&doctype=Standard
-URIDate 2022-03-24

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
-IssueDate 2022-03-24
-Paragraph 106
-Subparagraph d
-Clause i
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2022-en-r&anchor=para_106_d_i&doctype=Standard
-URIDate 2022-03-24

+ Details

Income tax and deferred taxes - Tax Effects of Other Comprehensive Income Components (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income tax related to other income and expense components with a charge or credit to net equity
(Losses) income from defined benefit plan	$ (1,273)	$ 142	$ 145
Cash flow hedges	7,172	(14,246)	(1,001)
Amount before taxes (expense) gain
Income tax related to other income and expense components with a charge or credit to net equity
(Losses) income from defined benefit plan	(6,350)	4,679	974
Cash flow hedges	26,622	(52,762)	(3,706)
Reserve for (losses) income from financial assets measured at fair value through other comprehensive income	190	(12,072)	9,784
Total	20,462	(60,155)	7,052
(Expense) income for income taxes
Income tax related to other income and expense components with a charge or credit to net equity
(Losses) income from defined benefit plan	1,273	(142)	(145)
Cash flow hedges	(7,172)	14,246	1,001
Reserve for (losses) income from financial assets measured at fair value through other comprehensive income	(17)	3,818	(2,642)
Total	(5,916)	17,922	(1,786)
Amount after taxes
Income tax related to other income and expense components with a charge or credit to net equity
(Losses) income from defined benefit plan	(5,077)	4,537	829
Cash flow hedges	19,450	(38,516)	(2,705)
Reserve for (losses) income from financial assets measured at fair value through other comprehensive income	173	(8,254)	7,142
Total	$ 14,546	$ (42,233)	$ 5,266

Provisions and other non-financial liabilities (Tables)

12 Months Ended

Dec. 31, 2022

Provisions and other non-financial liabilities

Schedule of provisions

18.1Types of provisions


	As of December 31, 2022			As of December 31, 2021
Types of provisions	Current	Non-current	Total	Current	Non-current	Total
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
Provision for legal complaints (1)	52,106	1,603	53,709	48,518	1,223	49,741
Provision for dismantling, restoration and rehabilitation cost (2)	—	53,995	53,995	—	58,592	58,592
Other provisions (3)	1,251,040	2,455	1,253,495	269,148	1,223	270,371
Total	1,303,146	58,053	1,361,199	317,666	61,038	378,704

(1)	These provisions correspond to legal processes that are pending resolution or that have not yet been disbursed, these provisions are mainly related to litigation involving the subsidiaries located in Chile, Brazil and the United States (see note 20.1).

(2)

Sernageomin commitments for the restoration of the location of the production sites have been incorporated. This cost value is calculated at discounted present value, using flows associated with plans with an evaluation horizon that fluctuates between 8 and 25 years for potassium-lithium operations and 11 to 22 years for nitrate-iodine operations. The rates used to discount future cash flows are based on market rates for the aforementioned terms

(3)	See Note 18.2.

Schedule of other current and noncurrent provision

18.2 Description of other provisions


	As of	As of
	December 31,	December 31,
Current provisions, other short-term provisions	2022	2021
	ThUS$	ThUS$
Rent under Lease contract (1)	1,189,326	260,889
Provision for additional tax related to foreign loans	1,085	1,027
End of agreement bonus	35,819	2,792
Directors’ per diem allowance	4,250	3,938
Miscellaneous provisions	20,560	502
Total	1,251,040	269,148

(1)

Payment Obligations for the lease contract with Corfo: These correspond to obligations assumed in the Lease Agreement. Our subsidiary SQM Salar holds exclusive rights to exploit the mineral resources in an area covering approximately 140,000 hectares of land in the Salar de Atacama in northern Chile, of which SQM Salar is only entitled to exploit the mineral resources in 81,920 hectares. These rights are owned by Corfo and leased to SQM Salar pursuant to the Lease Agreement. Corfo cannot unilaterally amend the Lease Agreement and the Project Agreement, and the rights to exploit the resources cannot be transferred. The Lease Agreement establishes that SQM Salar is responsible for making quarterly lease payments to Corfo according to specified percentages of the value of production of minerals extracted from the Salar de Atacama brines, maintaining Corfo’s rights over the Mining Exploitation Concessions and making annual payments to the Chilean government for such concession rights. The Lease Agreement was entered into in 1993 and expires on December 31, 2030. On January 17, 2018, SQM and Corfo reached an agreement to end an arbitration process directed by the arbitrator, Mr. Héctor Humeres Noguer, in case 1954-2014 of the Arbitration and Mediation Center of Santiago Chamber of Commerce and other cases related to it.

Schedule of other provisions


		Provision for
		dismantling,
Description of items that gave rise to variations		restoration and
as of December 31, 2022	Legal complaints	rehabilitation cost	Other provisions	Total
	ThUS$	ThUS$	ThUS$	ThUS$
Total provisions, initial balance	49,741	58,592	270,371	378,704
Changes
Additional provisions	3,981	7,085	3,045,758	3,056,824
Provision used	—	—	(2,060,321)	(2,060,321)
Increase(decrease) in foreign currency exchange	(1)	(35)	4	(32)
Others	(12)	(11,647)	(2,317)	(13,976)
Total Increase (decreases)	3,968	(4,597)	983,124	982,495
Total	53,709	53,995	1,253,495	1,361,199


		Provision for
		dismantling,
Description of items that gave rise to variations		restoration and
as of December 31, 2021	Legal complaints	rehabilitation cost	Other provisions	Total
	ThUS$	ThUS$	ThUS$	ThUS$
Total provisions, initial balance	10,165	61,265	95,353	166,783
Changes
Additional provisions	48,012	7,302	232,254	287,568
Provision used	(8,399)	—	(56,959)	(65,358)
Increase(decrease) in foreign currency exchange	(37)	—	(35)	(72)
Others	—	(9,975)	(242)	(10,217)
Total Increase (decreases)	39,576	(2,673)	175,018	211,921
Total	49,741	58,592	270,371	378,704


		Provision for
		dismantling,
Description of items that gave rise to variations		restoration and
as of December 31, 2020	Legal complaints	rehabilitation cost	Other provisions	Total
	ThUS$	ThUS$	ThUS$	ThUS$
Total provisions, initial balance	14,924	33,238	97,093	145,255
Changes
Additional provisions	62,922	30,974	60,685	154,581
Provision used	(67,685)	—	(59,939)	(127,624)
Increase(decrease) in foreign currency exchange	4	—	(2,486)	(2,482)
Others	—	(2,947)	—	(2,947)
Total Increase (decreases)	(4,759)	28,027	(1,740)	21,528
Total	10,165	61,265	95,353	166,783

Schedule of other non-financial liabilities, current

18.4 Other non-financial liabilities, Current


	As of	As of
	December 31,	December 31,
Description of other liabilities	2022	2021
	ThUS$	ThUS$
Tax withholdings	46,518	21,546
VAT payable	43,439	26,111
Guarantees received	743	746
Accrual for dividend	7,370	34,184
Monthly tax provisional payments	289,326	23,319
Deferred income	19,341	5,605
Withholdings from employees and salaries payable	7,242	5,587
Accrued vacations (1)	29,642	23,467
Other current liabilities	2,856	1,109
Total	446,477	141,674

(1) Vacation benefit (short-term benefits to employees, current) is in line with the provisions established in Chile’s Labor Code, which indicates that employees with more than a year of service will be entitled to annual vacation for a period of at least fifteen paid business days. The Company provides the benefit of two additional vacation days

Provisions and other non-financial liabilities - Narrative (Details)	12 Months Ended
	Dec. 31, 2022 USD ($) ha
Minimum
Disclosure of other provisions [line items]
Research and development expense	$ 10,000,000
Minimum \| Potassium-lithium operations
Disclosure of other provisions [line items]
Discount rate evaluation horizon	8
Minimum \| Nitrate-iodine operations
Disclosure of other provisions [line items]
Discount rate evaluation horizon	11
Maximum
Disclosure of other provisions [line items]
Research and development expense	$ 15,000,000
Maximum \| Potassium-lithium operations
Disclosure of other provisions [line items]
Discount rate evaluation horizon	25
Maximum \| Nitrate-iodine operations
Disclosure of other provisions [line items]
Discount rate evaluation horizon	22
SQM Salar
Disclosure of other provisions [line items]
Area of land \| ha	140,000
Area of land, entitled \| ha	81,920
SQM
Disclosure of other provisions [line items]
Percentage of entity's revenue	1.70%
SQM \| Minimum
Disclosure of other provisions [line items]
Research and development expense	$ 10,800,000
SQM \| Maximum
Disclosure of other provisions [line items]
Research and development expense	$ 18,900,000

Financial instruments

12 Months Ended

Dec. 31, 2022

Financial instruments

Financial instruments

Note 12 Financial instruments

12.1Types of other current and non-current financial assets


	As of	As of
	December 31,	December 31,
Description of other financial assets	2022	2021
	ThUS$	ThUS$
Financial assets at amortized cost (1)	950,167	905,170
Derivative financial instruments
- For hedging	7,014	12,625
- Non-hedging (2)	4,174	1,254
Total other current financial assets	961,355	919,049
Financial assets at fair value through other comprehensive income (4) (5)	9,497	8,932
Derivative financial instruments
- For hedging	22,606	245
Other financial assets at amortized cost	23	91
Total other non-current financial assets	32,126	9,268


	As of	As of
	December 31,	December 31,
Institution	2022	2021
	ThUS$	ThUS$
Banco de Crédito e Inversiones	187,707	34,325
Banco Santander (3)	51,444	65,899
Banco Itaú CorpBanca	15,048	195,471
Banco Estado	85,055	—
Banco de Chile	150,259	—
Scotiabank Sud Americano	250,362	289,421
Sumitomo Mitsui Banking	210,292	320,054
Total	950,167	905,170

(1)	Corresponds to term deposits whose maturity date is greater than 90 days and less than 360 days from the investment date constituted in the aforementioned financial institutions.

(2)	Correspond to forwards and options that were not classified as hedging instruments (See detail in Note 12.3).

(3)	As of December 31, 2022, no margin calls were recorded. As of December 31, 2021, margin calls were recorded for US$ 31,430.

(4)

During the first quarter of 2021, equity instruments classified at fair value irrevocably through other comprehensive income were sold for US$ 16,413. The cumulative amount of the movements in other comprehensive income from the date of acquisition to the date of sale was transferred to retained earnings.

(5)

During the second quarter of 2021, as a result of the loss of significant influence over the investment of Kore Potash (for more details, see Note 7.3 letter b), the investment, which was previous recognized as an investment in associates, was reclassified as other non-current financial assets as it was classified as financial equity instrument at fair value through other comprehensive income irrevocably.

12.2Trade and other receivables


	As of December 31, 2022			As of December 31, 2021
Trade and other receivables	Current	Non-current	Total	Current	Non-current	Total
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
Trade receivables, current	1,002,223	—	1,002,223	590,312	—	590,312
Prepayments, current	38,709	—	38,709	49,168	—	49,168
Other receivables, current	16,648	2,091	18,739	14,210	6,172	20,382
Guarantee deposits (1)	29,840	—	29,840	383	—	383
Total trade and other receivables	1,087,420	2,091	1,089,511	654,073	6,172	660,245

See discussion about credit risk in Note 4.2.


	As of December 31, 2022			As of December 31, 2021
		Impairment			Impairment
	Gross	provision for	Trade receivables,	Gross	provision for	Trade receivables,
Trade and other receivables	receivables	doubtful receivables	net	receivables	doubtful receivables	net
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
Receivables related to credit operations, current	1,006,982	(4,759)	1,002,223	600,664	(10,352)	590,312
Prepayments, current	39,493	(784)	38,709	49,952	(784)	49,168
Other receivables, current	19,920	(3,272)	16,648	17,073	(2,863)	14,210
Guarantee deposits (1)	29,840	—	29,840	383	—	383
Other receivables, non-current	2,091	—	2,091	6,172	—	6,172
Total trade and other receivables	1,098,326	(8,815)	1,089,511	674,244	(13,999)	660,245

(1) During the third quarter of 2022, the Company signed an agreement for an option to potentially acquire a battery-grade lithium hydroxide monohydrate plant with a production capacity of approximately 20,000 tons per year from lithium sulfate salts. In addition, the transaction secures rights to adjacent land for future expansion.

The acquisition cost totals CNY 869 million (ThUS$ 125,591) broken down into a deposit of CNY 204.5 million (ThUS$ 29,322) paid in the first quarter of 2023, CNY 57.5 million (ThUS$ 8,310) paid in the first quarter of 2023 and the remaining balance would be paid subject to the fulfillment of various conditions precedent in the second quarter of 2023. The Company´s payments would be backed by various guarantees granted by the seller and any failure to fulfil the conditions required by the contract would be considered a material breach of contract, giving the Company the right to demand the restitution of the amounts already paid.

(a)Renegotiated portfolio

As of December 31, 2022, and 2021 the detail of the renegotiated portfolio is as follows:


As of December 31, 2022
Portfolio analysis
	Number of customers with	Gross non-renegotiated	Number of customers with	Gross renegotiated
Past due segments	non-renegotiated portfolio	portfolio ThUS$	renegotiated portfolio	portfolio ThUS$
Current	997	967,853	12	276
1 - 30 days	149	30,116	4	71
31 - 60 days	25	1,352	2	105
61 - 90 days	2	2,632	3	704
91 - 120 days	10	235	—	—
121 - 150 days	1	84	—	—
151 - 180 days	2	180	1	7
181 - 210 days	4	67	2	27
211 - 250 days	7	192	3	54
>250 days	76	2,726	55	301
Total	1,273	1,005,437	82	1,545


As of December 31, 2021
Portfolio analysis
	non-renegotiated portfolio	Gross non-renegotiated	Number of customers with	Gross renegotiated
Past due segments	Number of customers with	portfolio ThUS$	renegotiated portfolio	portfolio ThUS$
Current	1,279	570,899	7	130
1 - 30 days	112	22,632	—	—
31 - 60 days	18	2,114	—	—
61 - 90 days	11	1,015	—	—
91 - 120 days	7	202	—	—
121 - 150 days	3	43	—	—
151 - 180 days	3	4	—	—
181 - 210 days	3	130	—	—
211 - 250 days	1	1	2	4
>250 days	80	2,597	117	893
Total	1,517	599,637	126	1,027

(b)

Impairment provision for doubtful receivables


As of December 31, 2022
	Trade accounts receivable days past due
												Trade receivables
												due from related
Trade and other receivables	Current		1 to 30 days		31 to 60 days		61 to 90 days		Over 90 days		Trade	parties
											ThUS$	ThUS$
Expected Loss Rate on	—	%	1	%	7	%	6	%	81	%	—	—
Total Gross Book Value	968,129		30,187		1,457		3,336		3,873		1,006,982	83,000
Impairment Estimate	948		391		108		186		3,126		4,759	1,378


As of December 31, 2021
	Trade accounts receivable days past due											Trade receivables
							61 to 90		Over 90			due from related
Trade and other receivables	Current		1 to 30 days		31 to 60 days		days		days		Trade	parties
											ThUS$	ThUS$
Expected Loss Rate on	1	%	8	%	32	%	34	%	71	%	—	—
Total Gross Book Value	571,029		22,633		2,113		1,015		3,874		600,664	86,869
Impairment Estimate	4,724		1,856		673		346		2,753		10,352	717

As of December 31, 2022, and 2021, movements in provisions are as follows:


	As of	As of
	December 31,	December 31,
Provisions	2022	2021
	ThUS$	ThUS$
Impairment provision of Accounts receivable at the beginning of the year	14,716	27,273
Increase (decrease) impairment of accounts receivable	(3,369)	235
Write-off of receivables	—	(11,091)
Difference in exchange rate	(1,154)	(1,701)
Impairment provision of Accounts Receivable Provision at the end of the year	10,193	14,716
(1) Trade and other Receivables Provision	4,759	10,352
(2) Current other Receivables Provision	4,056	3,647
(3) Trade receivables with related parties, current Provision	1,378	717
Recovery of Insurance	—	210

Impairment provision of Accounts Receivable	10,193	14,716
Renegotiated receivables	356	910
Non-renegotiated receivables	9,837	13,806

12.3Hedging assets and liabilities

The balance represents derivative financial instruments measured at fair value which have been classified as hedges for exchange and interest rate risks relating to the total obligations with the public associated with bonds in UF and investments in Chilean pesos. (See more detail in Note 4.2 b).


				Hedging Reserve in
As of December 31, 2022	Assets	Liabilities	Total Realized	Gross Equity (1)
Type of Instrument: Cross currency interest rate swaps UF/CLP
Cash flow hedge derivatives
Short term	7,014	42,754	—	—
Long term	15,467	19,772	—	—
Subtotal	22,481	62,526	(12,939)	(27,106)
Type of Instrument: Forwards
Non-hedging derivates disbursement SQM Australia Pty
Long term	7,139	—	—	7,139
Subtotal	7,139	—	—	7,139
Underlying Investments Hedge	29,620	62,526	(12,939)	(19,967)
Type of Instrument: Forwards/Options
Non-hedge derivates with effect on income
Short term	4,174	5,816	—	—
Underlying Investments Hedge	4,174	5,816	38,653	—
Total Instruments	33,794	68,342	25,714	(19,967)


				Hedging Reserve in
As of December 31, 2021	Assets	Liabilities	Total Realized	Gross Equity (1)
Type of Instrument: Cross currency interest rate swaps UF/CLP
Cash flow hedge derivatives
Short term	12,625	8,954	—	—
Long term	245	72,900	—	—
Underlying Debt Hedge	12,870	81,854	(22,455)	(46,529)
Type of Instrument: Forwards/Options
Non-hedge derivatives with effect on income
Short term	1,254	1,672	—	—
Underlying Investments Hedge	1,254	1,672	4,694	—
Total Instruments	14,124	83,526	(17,761)	(46,529)

(1)

See underlying hedges in Note 4.2 letters b) and d) and movement of cash flow hedge reserve in Note 19.4.

The balances in the column “Total Realized” consider the intermediate effects of the contracts that were in place between January 1 and December 31, 2022, and January 1 and December 31,2021.


Reconciliation of asset and	As of December	Cash Flow	Income Statement	Equity and Others	As of December
liability hedging derivatives	31, 2021				31, 2022
Hedge-to-debt derivatives	(81,597)	8,616	37,494	25,426	(10,061)
Hedging derivatives to investment	12,613	(52,698)	16,104	(6,003)	(29,984)
Non-hedging derivatives disbursement SQM Australia Pty	—	2,022	—	5,117	7,139
Non-hedging derivatives	(418)	(39,878)	38,653	—	(1,643)


Reconciliation of asset and	As of December	Cash Flow	Income Statement	Equity and Others	As of December
liability hedging derivatives	31, 2020				31, 2021
Hedge-to-debt derivatives	18,070	6,478	(52,254)	(53,891)	(81,597)
Hedging derivatives to investment	(21,004)	9,405	23,083	1,129	12,613
Non-hedging derivatives	(2,784)	(2,327)	4,693	—	(418)

Derivative contract maturities are detailed as follows:


Series	Contract amount	Currency	Maturity date
	ThUS$
H	105,828	UF	01/04/2023
O	58,748	UF	02/01/2030
P	134,228	UF	01/15/2028
Q	106,933	UF	06/01/2030

Effectiveness

The Company uses CCS, Forwards and IRS to hedge the potential financial risk associated with exchange rate and interest rate volatility. The objective is to hedge the exchange rate and inflation financial risks associated with bond obligations, exchange rate financial risks associated with investments in Chilean pesos, exchange rate financial risk associated with projects under construction in Australian dollars and interest rate financial risk associated with bank loans. Hedges are documented and qualitatively assessed to demonstrate their effectiveness based on a comparison of their critical terms.

The hedges used by the Company as of the reporting date are highly effective given that the amounts, currencies, exchange dates and rates of the hedged item and the hedge are aligned, maintaining a close economic relationship.

12.4Financial liabilities

Other current and non-current financial liabilities

As of December 31, 2022 and 2021, the detail is as follows:


	As of December 31, 2022			As of December 31, 2021
Other current and non-current financial
liabilities	Currents	Non-Current	Total	Currents	Non-Current	Total
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
Liabilities at amortized cost
Bank borrowings	130,840	197,522	328,362	85	69,613	69,698
Unsecured obligations	343,589	2,176,924	2,520,513	40,594	2,445,219	2,485,813
Derivative financial instruments
For hedging	42,754	19,772	62,526	8,954	72,900	81,854
Non-Hedging	5,816	—	5,816	1,672	—	1,672
Total	522,999	2,394,218	2,917,217	51,305	2,587,732	2,639,037

a)Bank borrowings, current:

As of December 31, 2022, the detail of this caption is as follows:

Debtor

Payment of Creditor interest

Currency or

adjustment

Payment of

Tax ID No.

Company

Country

Tax ID No.

Financial institution

Country

index

Payment of interest

Repayment

Effective rate

Nominal rate

93.007.000-9

SQM S.A.

Chile

O-E

Scotiabank Cayman

USA

US$

Upon maturity

05/30/2023

0.97

5.22

93.007.000-9

SQM S.A.

Chile

97.023.000-9

Itaú

Chile

US$

Upon maturity

01/05/2023

4.50

93.007.000-9

SQM S.A.

Chile

97.030.000-7

Banco Estado

Chile

US$

Upon maturity

01/05/2023

4.59

Debtor

Creditor

Nominal amounts as of December 31, 2022

Current amounts as of December 31, 2022

90 days to 1

Borrowing

Company

Financial institution

Up to 90 days

90 days to 1 year

Total

Up to 90 days

year

Subtotal

costs

Total

ThUS$

SQM S.A.

Scotiabank Cayman

—

70,000

70,000

—

70,393

(149)

70,244

SQM S.A.

Itaú

20,000

—

20,000

20,062

SQM S.A.

Banco Estado

40,000

—

40,000

40,128

SQM S.A.

Scotiabank

—

406

Total

60,000

70,000

130,000

60,596

70,393

130,989

(149)

130,840

On December 21, 2022, the Company signed a loan agreement with The Export-Import Bank of Korea (“Kexim”) and Banco Santander S.A., with the latter acting as Kexim’s Facility Agent, and the initial disbursement of funds became effective on January 10, 2023 for a value of US$10 million. The total loan amount is up to MMUS$ 100. As of December 31, 2022, no disbursement had been made.

As of December 31,2021

Debtor

Creditor

Currency or

adjustment

Tax ID No

Company

Country

Tax ID No.

Financial institution

Country

index

Repayment

maturity

Effective rate

Nominal rate

93.007.000-9

SQM S.A.

Chile

O-E

Scotiabank Cayman

USA

US$

Upon maturity

05/31/2022

0.82

1.36

Debtor

Creditor

Nominal amounts as of December 31, 2021

Current amounts as of December 31, 2021

90 days to

90 days to 1

Borrowing

Up to 90 days

1 year

Total

Up to 90 days

year

Subtotal

costs

Total

Company

Financial institution

ThUS$

SQM S.A.

Scotiabank Cayman

—

Total

—

b)Unsecured obligations, current:

As of December 31, 2022, and 2021, the detail of current unsecured interest-bearing obligations is composed of promissory notes and bonds, as follows:



Debtor			Number of			Currency or	Periodicity
			registration or ID			adjustment	Payment of
Tax ID No.	Company	Country	of the instrument	Series	Maturity date	index	interest	Repayment	Effective rate		Nominal rate
93.007.000-9	SQM S.A.	Chile	—	MUS$250	01/28/2023	US$	Semiannual	Upon maturity	1.17	%	4.38	%
93.007.000-9	SQM S.A.	Chile	—	MUS$300	04/03/2023	US$	Semiannual	Upon maturity	0.56	%	3.63	%
93.007.000-9	SQM S.A.	Chile	—	MUS$450	05/07/2023	US$	Semiannual	Upon maturity	3.01	%	4.25	%
93.007.000-9	SQM S.A.	Chile	—	MUS$400	01/22/2023	US$	Semiannual	Upon maturity	3.79	%	4.25	%
93.007.000-9	SQM S.A.	Chile	—	MUS$700	03/10/2023	US$	Semiannual	Upon maturity	3.44	%	3.50	%
93.007.000-9	SQM S.A.	Chile	564	H	01/05/2023	UF	Semiannual	Semiannual	1.23	%	4.90	%
93.007.000-9	SQM S.A.	Chile	699	O	02/01/2023	UF	Semiannual	Upon maturity	1.89	%	3.80	%
93.007.000-9	SQM S.A.	Chile	563	P	01/15/2023	UF	Semiannual	Upon maturity	1.72	%	3.25	%
93.007.000-9	SQM S.A.	Chile	700	Q	06/01/2023	UF	Semiannual	Upon maturity	2.63	%	3.45	%

Effective rates of bonds in Pesos and UF are expressed and calculated in Dollars based on the flows agreed in Cross Currency Swap Agreements.


			Nominal amounts as of December 31, 2022			Carrying amounts of maturities as of December 31, 2022
			Up to 90	90 days to 1			90 days to 1		Borrowing
Company	Country	Series	days	year	Total	Up to 90 days	year	Subtotal	costs	Total
			ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
SQM S.A.	Chile	MUS$250	4,648	—	4,648	4,648	—	4,648	(433)	4,215
SQM S.A.	Chile	MUS$300	—	302,658	302,658	—	302,658	302,658	(170)	302,488
SQM S.A.	Chile	MUS$450	—	2,869	2,869	—	2,869	2,869	(679)	2,190
SQM S.A.	Chile	MUS$400	7,508	—	7,508	7,508	—	7,508	(237)	7,271
SQM S.A.	Chile	MUS$700	—	7,554	7,554	—	7,554	7,554	(555)	6,999
SQM S.A.	Chile	H	17,566	—	17,566	17,566	—	17,566	(172)	17,394
SQM S.A.	Chile	O	965	—	965	965	—	965	(82)	883
SQM S.A.	Chile	P	1,830	—	1,830	1,830	—	1,830	(12)	1,818
SQM S.A.	Chile	Q	—	351	351	—	351	351	(20)	331
Total			32,517	313,432	345,949	32,517	313,432	345,949	(2,360)	343,589

As of December 31, 2021



Debtor			Number of			Currency or	Periodicity
			registration or ID			adjustment	Payment of
Tax I No.	Company	Country	of the instrument	Series	Maturity date	index	interest	Repayment	Effective rate		Nominal rate
93.007.000-9	SQM S.A.	Chile	—	MUS$250	01/28/2022	US$	Semiannual	Upon maturity	1.56	%	4.38	%
93.007.000-9	SQM S.A.	Chile	—	MUS$300	04/03/2022	US$	Semiannual	Upon maturity	0.74	%	3.63	%
93.007.000-9	SQM S.A.	Chile	—	MUS$450	05/07/2022	US$	Semiannual	Upon maturity	3.23	%	4.25	%
93.007.000-9	SQM S.A.	Chile	—	MUS$400	01/22/2022	US$	Semiannual	Upon maturity	4.00	%	4.25	%
93.007.000-9	SQM S.A.	Chile	—	MUS$700	03/10/2022	US$	Semiannual	Upon maturity	3.62	%	3.50	%
93.007.000-9	SQM S.A.	Chile	564	H	01/05/2022	UF	Semiannual	Semiannual	1.75	%	4.90	%
93.007.000-9	SQM S.A.	Chile	699	O	02/15/2022	UF	Semiannual	Upon maturity	2.06	%	3.80	%
93.007.000-9	SQM S.A.	Chile	563	P	01/15/2022	UF	Semiannual	Upon maturity	2.04	%	3.25	%
93.007.000-9	SQM S.A.	Chile	700	Q	06/01/2022	UF	Semiannual	Upon maturity	2.72	%	3.45	%

Effective rates of bonds in Pesos and UF are expressed and calculated in Dollars based on the flows agreed in Cross Currency Swap Agreements.


			Nominal amounts as of December 31, 2021			Carrying amounts of maturities as of December 31, 2021
			Up to 90	90 days to 1			90 days to
Company	Country	Series	days	year	Total	Up to 90 days	1 year	Subtotal	Borrowing costs	Total
			ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
SQM S.A.	Chile	MUS$250	4,648	—	4,648	4,648	—	4,648	(433)	4,215
SQM S.A.	Chile	MUS$300	—	2,658	2,658	—	2,658	2,658	(614)	2,044
SQM S.A.	Chile	MUS$450	—	2,869	2,869	—	2,869	2,869	(679)	2,190
SQM S.A.	Chile	MUS$400	7,508	—	7,508	7,508	—	7,508	(237)	7,271
SQM S.A.	Chile	MUS$700	6,874	—	6,874	6,874	—	6,874	(552)	6,322
SQM S.A.	Chile	H	16,026	—	16,026	16,026	—	16,026	(172)	15,854
SQM S.A.	Chile	O	863	—	863	863	—	863	(82)	781
SQM S.A.	Chile	P	1,636	—	1,636	1,636	—	1,636	(12)	1,624
SQM S.A.	Chile	Q	—	314	314	—	314	314	(21)	293
Total			37,555	5,841	43,396	37,555	5,841	43,396	(2,802)	40,594

c)Bank borrowings -non-current

The following table shows the details of bank loans as of December 31, 2022:

Debtor

Creditor

Currency or

Type of

Tax ID No.

Company

Country

Tax ID No.

Financial institution

Country

adjustment index

amortization

Effective rate

Nominal rate

93.007.000-9

SQM S.A.

Chile

O-E

Scotiabank Cayman

USA

US$

Upon Maturity

2.33

3.19

93.007.000-9

SQM S.A.

Chile

O-E

Scotiabank

Canadá

US$

Upon Maturity

5.10

6.08

Debtor

Creditor

Nominal non-current maturities as ofDecember 31, 2022

Carrying amounts of maturities as of December 31, 2022

Costs of

Between 2

Between 3

Between 1

Between 2

Between 3

obtaining

Company

Financial institution

Between 1 and 2

and 3

and 4

Total

and 2

and 3

and 4

Subtotal

loans

Total

ThUS$

SQM S.A.

Scotiabank Cayman

—

SQM S.A.

Scotiabank

—

200,000

—

200,000

—

200,000

—

200,000

(2,478)

197,522

Total

—

200,000

—

200,000

—

200,000

—

200,000

(2,478)

197,522

As of December 31, 2021

Debtor

Creditor

Currency or

Type of

Tax ID No.

Company

Country

Tax ID No.

Financial institution

Country

adjustment index

amortization

Effective rate

Nominal rate

93.007.000-9

SQM S.A.

Chile

O-E

Scotiabank Cayman

USA

US$

Maturity

2.05

1.36

Debtor

Creditor

Nominal non-current maturities as of December 31, 2021

Carrying amounts of maturities as of December 31, 2021

Costs of

Between 2

Between 3

Between 1

Between 2

Between 3

obtaining

Company

Financial institution

Between 1 and 2

and 3

and 4

Total

and 2

and 3

and 4

Subtotal

loans

Total

ThUS$

SQM S.A.

Scotiabank Cayman

—

70,000

—

70,000

—

70,000

—

70,000

(387)

69,613

Total

—

70,000

—

70,000

—

70,000

—

70,000

(387)

69,613

d)Unsecured obligations, non-current

The following table shows the details of “unsecured debentures that accrue non-current interest” as of December 31, 2022:

Debtor

Number of

Periodicity

registration or ID of

Currency or

Payment of

Tax ID No.

Company

Country

the instrument

Series

Maturity date

adjustment index

interest

Repayment

Effective rate

Nominal rate

93.007.000-9

SQM S.A.

Chile

—

MUS$250

01/28/2025

US$

Semiannual

Upon maturity

4.08

4.38

93.007.000-9

SQM S.A.

Chile

—

MUS$450

05/07/2029

US$

Semiannual

Upon maturity

4.10

4.25

93.007.000-9

SQM S.A.

Chile

—

MUS$400

01/22/2050

US$

Semiannual

Upon maturity

4.19

4.25

93.007.000-9

SQM S.A.

Chile

—

MUS$700

09/10/2051

US$

Semiannual

Upon maturity

3.42

3.50

93.007.000-9

SQM S.A.

Chile

564

01/05/2030

Semiannual

4.76

4.90

93.007.000-9

SQM S.A.

Chile

699

02/01/2033

Semiannual

Upon maturity

3.69

3.80

93.007.000-9

SQM S.A.

Chile

563

01/15/2028

Semiannual

Upon maturity

3.24

3.25

93.007.000-9

SQM S.A.

Chile

700

06/01/2038

Semiannual

Upon maturity

3.43

3.45


	Nominal non-current maturities as of December 31, 2022						Carrying amounts of maturities as of December 31, 2022
													Bond
	Over 1	Over 2	Over 3	Over 4	Over 5		Over 1	Over 2	Over 3	Over 4	Over 5		issuance
Series	year to 2	years to 3	Years to 4	Years to 5	years	Total	year to 2	years to 3	Years to 4	Years to 5	years	Subtotal	costs	Total
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
MUS$250	—	—	250,000	—	—	250,000	—	—	250,000	—	—	250,000	(469)	249,531
MUS$450	—	—	—	—	450,000	450,000	—	—	—	—	450,000	450,000	(3,666)	446,334
MUS$400	—	—	—	—	400,000	400,000	—	—	—	—	400,000	400,000	(6,112)	393,888
MUS$700	—	—	—	—	700,000	700,000	—	—	—	—	700,000	700,000	(15,341)	684,659
H	—	—	—	—	96,967	96,967	—	—	—	—	96,967	96,967	(1,034)	95,933
O	—	—	—	—	61,536	61,536	—	—	—	—	61,536	61,536	(741)	60,795
P	—	—	—	—	123,072	123,072	—	—	—	—	123,072	123,072	(52)	123,020
Q	—	—	—	—	123,073	123,073	—	—	—	—	123,073	123,073	(309)	122,764
Total	—	—	250,000	—	1,954,648	2,204,648	—	—	250,000	—	1,954,648	2,204,648	(27,724)	2,176,924

As of December 31,2021



Debtor			Number of			Currency or	Periodicity
			registration or ID			adjustment	Payment of
Tax ID No.	Company	Country	of the instrument	Series	Maturity date	index	interest	Repayment	Effective rate		Nominal rate
93.007.000-9	SQM S.A.	Chile	—	MUS$250	01/28/2025	US$	Semiannual	Upon maturity	4.08	%	4.38	%
93.007.000-9	SQM S.A.	Chile	—	MUS$300	04/03/2023	US$	Semiannual	Upon maturity	3.42	%	3.63	%
93.007.000-9	SQM S.A.	Chile	—	MUS$450	05/07/2029	US$	Semiannual	Upon maturity	4.10	%	4.25	%
93.007.000-9	SQM S.A.	Chile	—	MUS$400	01/22/2050	US$	Semiannual	Upon maturity	4.19	%	4.25	%
93.007.000-9	SQM S.A.	Chile	—	MUS$700	10/09/2051	US$	Semiannual	Upon maturity	3.43	%	3.50	%
93.007.000-9	SQM S.A.	Chile	564	H	01/05/2030	UF	Semiannual	Semiannual	4.76	%	4.90	%
93.007.000-9	SQM S.A.	Chile	699	O	02/01/2033	UF	Semiannual	Upon maturity	3.69	%	3.80	%
93.007.000-9	SQM S.A.	Chile	563	P	01/15/2028	UF	Semiannual	Upon maturity	3.24	%	3.25	%
93.007.000-9	SQM S.A.	Chile	700	Q	06/01/2038	UF	Semiannual	Upon maturity	3.43	%	3.45	%


	Nominal non-current maturities as of December 31, 2021						Carrying amounts of maturities as of December 31, 2021
													Bond
	Over 1	Over 2	Over 3	Over 4	Over 5		Over 1	Over 2	Over 3	Over 4	Over 5		issuance
Series	year to 2	years to 3	Years to 4	Years to 5	years	Total	year to 2	years to 3	Years to 4	Years to 5	years	Subtotal	costs	Total
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
MUS$250	—	—	250,000	—	—	250,000	—	—	250,000	—	—	250,000	(903)	249,097
MUS$300	300,000	—	—	—	—	300,000	300,000	—	—	—	—	300,000	(168)	299,832
MUS$450	—	—	—	—	450,000	450,000	—	—	—	—	450,000	450,000	(4,343)	445,657
MUS$400	—	—	—	—	400,000	400,000	—	—	—	—	400,000	400,000	(6,347)	393,653
MUS$700	—	—	—	—	700,000	700,000	—	—	—	—	700,000	700,000	(15,836)	684,164
H	—	—	—	—	100,064	100,064	—	—	—	—	100,064	100,064	(1,206)	98,858
O	—	—	—	—	55,035	55,035	—	—	—	—	55,035	55,035	(822)	54,213
P	—	—	—	—	110,070	110,070	—	—	—	—	110,070	110,070	(65)	110,005
Q	—	—	—	—	110,070	110,070	—	—	—	—	110,070	110,070	(330)	109,740
Total	300,000	—	250,000	—	1,925,239	2,475,239	300,000	—	250,000	—	1,925,239	2,475,239	(30,020)	2,445,219

e)Additional information

Bonds

The details of each issuance are as follows:

(i)Series “H” bonds

On January 13, 2009, the Company placed the Series H bond for UF 4,000,000 equivalent to ThUS$ 139,216 at an annual interest rate of 4.9%, with a term of 21 years and amortizations of principal beginning in July, 2019.

2021

During 2021, the amortization of principal amounted to UF 363,636.36, equivalent to ThUS$ 14,870 with an associated cross currency swap hedge income of ThUS$ 760. For more details on restrictions. See Note 19.1.

2022

During 2022, amortization of principal amounted to UF 363.636.36, equivalent to ThUS$ 13,117 with an associated cross currency swap hedge loss of ThUS$ 993.

For the periods ended December 31, 2022, and 2021, the Company has made the following payments with a charge to the Series H bonds and their associated CCS hedging:


	As of	As of	As of
	December 31,	December 31,	December 31,
Payments made	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Payments of interest, Series H bonds	5,241	6,661	6,601
CCS Coverage	2,126	1,598	2,575

(ii)Single series bonds, second issue MUS$ 250

On April 21, 2010, the Company informed the CMF of its placement in international markets of an unsecured bond of ThUS$ 250,000, pursuant to Rule 144 -A and Regulation S of the Securities and Exchange Commission with a maturity of 10 years with an annual interest rate of 5.5%.

The Company paid the principal on April 21, 2020.

For the periods ended December 31, 2022 and 2021, the detail of payments charged to the line of single series bonds, second issue is as follows.


	As of	As of	As of
	December 31,	December 31,	December 31,
Payments made	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Payments of interest	—	—	6,875

(iii)Series “O” bonds

On April 4, 2012, the Company issued “Series O” for UF 1,500,000 (ThUS$ 69,901) at a term of 21 years with a single payment at the maturity of the term and an annual interest rate of 3.80%. See more details with respect a restriction in Note 19.1.

For the periods ended December 31, 2022, and 2021, the Company has made the following payments with a charge to Series O bonds and their associated CCS hedging:


	As of	As of	As of
	December 31,	December 31,	December 31,
Payments made	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Payments of interest, Series O bonds	2,139	2,225	2,070
CCS Coverage	556	438	599

(iv)Single series bonds, third issue MUS$ 300

On April 3, 2013, the Company issued a non-secured bond in the United States with a value of US$ 300 million. pursuant to Rule 144-A and Regulation S of the SEC. The bond is for a 10-year term with an annual coupon rate of 3.625%.

For the periods ended December 31, 2022, and 2021, the following payments have been made with a debit to the line of single-series bonds, third issue:


	As of	As of	As of
	December 31,	December 31,	December 31,
Payments made	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Payments of interest	10,875	10,875	10,875

(v)Single series bonds, fourth issuance MUS $250

On October 23, 2014, the Company issued unsecured bonds amounting ThUS$ 250,000 in international markets, pursuant to Rule 144-A and Regulation S of the Securities and Exchange Commission. These bonds mature in 2025 and have annual interest rate of 4.375%.

For the periods ended on December 31, 2022 and 2021, the following payments have been made.


	December 31,	December 31,	December 31,
Payments made	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Payments of interest	10,938	10,938	10,938

(vi)Series “P” bonds

The Company on March 31, 2008 issued the placement on the stock market of the Series “P” bond (the "Bonds” Series P) with a value of UF 3,000,000, with a charge to the 10 year Bonds Line registered in the CMF Securities Registry under number 563.

The bonds Series P (i) mature on January 15, 2028; (ii) will accrue on the unpaid principal, expressed in UF, at an annual interest rate of 3.25% from January 15, 2018; and (iii) can be early redeemed by the Company starting from the date of placement, that was, as of April 5, 2018.

For the periods ended on December 31, 2022 and 2021, the following payments and their associated CCS have been made:


	December 31,	December 31,	December 31,
Payments made	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Payments of interest, Series P bonds	3,385	3,835	3,534
CCS Coverage	3,569	3,119	3,439

(vii) Series Q bonds

On October 31, 2018, the issuance of Series Q bonds was authorized in the general stock market for the amount of UF 3,000,000, which were registered in the Securities Registry of the CMF on February 14, 2019 under number 700.

The bonds Series Q (i) mature on the first day of June 2038; (ii) will earn an interest rate of 3.45% per annum on the outstanding capital, expressed in UF, from June 1, 2018 thereon; and (iii) may be early redeemed by the Company starting from the placement date, that was, as of November 8, 2018.

On November 8, 2018, all the Series Q Bonds have been placed and sold to Euroamerica S.A. for a total amount of $ 83,567,623,842, which was paid in full and in cash by Euroamerica S.A. to the Company.

For the periods ended December 31, 2022 and 2021, the following payments have been made:


	December 31,	December 31,	December 31,
Payments made	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Payments of interest, Series Q bonds	4,032	3,990	3,769
CCS Coverage	1,877	1,919	1,021

(viii) Single series fifth issue bonds MUS$ 450

On May 7, 2019, the CMF was informed that the Company issued and placed unsecured bonds for ThUS$ 450,000 pursuant to Rule 144-A and Regulation S of the Securities and Exchange Commission on international markets. These bonds will mature in 2029 and carry an interest rate of 4.25% per annum.

For the periods ended on December 31, 2022 and 2021, the following payments have been made:


	December 31,	December 31,	December 31,
Payments made	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Payments of interest	19,125	19,125	19,125

(ix) Single series sixth issue bonds MUS$ 400

On January 22, 2020, the Company has placed unsecured bonds in international markets for US$ 400 million, pursuant to Rule 144-A and Regulation S of the Securities and Exchange Commission, at an annual interest rate of 4.250% and a maturity in the year 2050.

For the periods ended on December 31, 2022 and 2021, the following payments have been made:


	December 31,	December 31,	December 31,
Payments made	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Payments of interest	17,000	17,000	8,500

(x) Single series seventh issue bonds MUS$ 700

On September 10, 2021, the Company has placed unsecured bonds in international markets for US$ 700 million, pursuant to Rule 144-A and Regulation S of the Securities and Exchange Commission, at an annual interest rate of 3.50 % and a maturity in the year 2051.

For the periods ended on December 31, 2022 and 2021, the following payments have been made:


	December 31,	December 31,	December 31,
Payments made	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Payments of interest	23,819	—	—

12.5Trade and other payables

a) Details trade and other payables


	As of December 31, 2022			As of December 31, 2021
Details trade and other payables	Current	Non-current	Current	Current	Non-current	Total
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
Accounts payable	373,351	—	373,351	279,092	—	279,092
Other accounts payable	1,438	—	1,438	558	—	558
Prepayments from customers	—	—	—	—	3,813	3,813
Total	374,789	—	374,789	279,650	3,813	283,463

As of December 31, 2022, and 2021, the balance of current and past due accounts payable is made up as follows:

Suppliers current on all payments


	Amounts according to payment periods as of December 31, 2022
						366 and
	Up to 30	31 – 60	61 – 90	91 – 120	121 – 365	more
Type of Supplier	Days	days	Days	days	days	days	Total
							ThUS$
Goods	239,108	786	877	339	—	—	241,110
Services	91,499	1,270	73	—	65	—	92,907
Others	34,325	—	—	—	—	—	34,325
Total	364,932	2,056	950	339	65	—	368,342


	Amounts according to payment periods as of December 31, 2021
						366 and
	Up to 30	31 - 60	61 – 90	91 – 120	121 – 365	more
Type of Supplier	Days	days	Days	days	days	days	Total
							ThUS$
Goods	148,045	1,799	1,425	—	120	3,813	155,202
Services	80,089	335	109	2	78	—	80,613
Others	31,949	—	—	—	—	—	31,949
Total	260,083	2,134	1,534	2	198	3,813	267,764

Suppliers past due on payments


	Amounts according to payment periods as of December 31, 2022
						366 and
	Up to 30	31 – 60	61 – 90	91 – 120	121 – 365	more
Type of Supplier	Days	days	Days	days	days	days	Total
							ThUS$
Goods	1,294	135	64	24	1,363	—	2,880
Services	1,548	174	20	1	196	—	1,939
Others	136	27	—	—	27	—	190
Total	2,978	336	84	25	1,586	—	5,009


	Amounts according to payment periods as of December 31, 2021
						366 and
	Up to 30	31 – 60	61 – 90	91 – 120	121 – 365	more
Type of Supplier	Days	days	Days	days	days	days	Total
							ThUS$
Goods	7,688	30	5	1	37	—	7,761
Services	4,055	108	533	34	181	—	4,911
Others	2,340	16	73	35	5	—	2,469
Total	14,083	154	611	70	223	—	15,141

Purchase commitments held by the Company are recognized as liabilities when the goods and services are received by the Company. As of December 31, 2022, the Company has purchase orders amounting to ThUS$ 191,319 and ThUS$ 166,209 as of December 31, 2021.

12.6Financial asset and liability categories

a)Financial Assets


	As of December 31, 2022			As of December 31, 2021
Description of financial assets	Current	Non-current	Total	Current	Non-current	Total
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
Cash and cash equivalent	2,655,236	—	2,655,236	1,515,051	—	1,515,051
Trade receivables due from related parties at amortized cost	81,622	—	81,622	86,152	—	86,152
Financial assets measured at amortized cost	950,167	23	950,190	905,170	91	905,261
Trade and other receivables	1,087,420	2,091	1,089,511	654,073	6,172	660,245
Total financial assets measured at amortized cost	4,774,445	2,114	4,776,559	3,160,446	6,263	3,166,709
Financial instruments for hedging purposes	7,014	—	7,014	12,625	245	12,870
Financial instruments held for trading	4,174	—	4,174	1,254	—	1,254
Financial assets classified as available for sale at fair value through equity	—	9,497	9,497	—	8,932	8,932
Total financial assets at fair value	11,188	9,497	20,685	13,879	9,177	23,056
Total financial assets	4,785,633	11,611	4,797,244	3,174,325	15,440	3,189,765

b)Financial Liabilities


	As of December 31, 2022			As of December 31, 2021
Description of financial liabilities	Current	Non-current	Total	Current	Non-current	Total
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
For hedging purposes through equity	42,754	19,772	62,526	8,954	72,900	81,854
Held for trading at fair value through profit or loss	5,816	—	5,816	1,672	—	1,672
Financial liabilities at fair value	48,570	19,772	68,342	10,626	72,900	83,526
Bank loans	130,840	197,522	328,362	85	69,613	69,698
Unsecured obligations	343,589	2,176,924	2,520,513	40,594	2,445,219	2,485,813
Lease Liabilities	12,149	49,585	61,734	7,704	46,519	54,223
Trade and other payables	374,789	—	374,789	279,650	3,813	283,463
Total financial liabilities at amortized cost	861,367	2,424,031	3,285,398	328,033	2,565,164	2,893,197
Total financial liabilities	909,937	2,443,803	3,353,740	338,659	2,638,064	2,976,723

12.7Fair value measurement of finance assets and liabilities

The fair value hierarchy is detailed as follows:

(a)

Level 1: The fair value of financial instruments traded in active markets (such as publicly traded derivatives, and equity securities) is based on quoted market prices at the end of the reporting period. The quoted market price used for financial assets held by the Company is the current bid price. These instruments are included in level 1.

(b)

Level 2: The fair value of financial instruments that are not traded in an active market (for example, over-the-counter derivatives) is determined using valuation techniques which maximize the use of observable market data and rely as little as possible on entity-specific estimates. If all significant inputs required to fair value an instrument are observable, the instrument is included in level 2.

(c)

Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3. This is the case for unlisted equity securities.


	As of December 31, 2022			Measurement Methodology
		Fair value
	Carrying Amount at	(disclosure	Fair amount
Fair value measurement of assets and liabilities	Amortized Cost	purposes)	registered	Level 1	Level 2	Level 3
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
Financial Assets
Cash and cash equivalents	2,655,236	2,655,236	—	2,655,236	—	—
Other current financial assets
- Time deposits	950,167	950,167	—	—	950,167	—
- Derivative financial instruments	—	—	—	—	—
- Forwards	—	—	3,704	—	3,704	—
- Options	—	—	470	—	470	—
- Hedging assets	—	—	7,014	—	7,014	—
- Swaps	—	—	—	—	—	—
Non-current accounts receivable	2,091	2,091	—	—	—	—
Other non-current financial assets:
- Other	23	23	—	—	23	—
- Equity instruments	—	—	9,497	9,497	—	—
- Hedging assets – Swaps	—	—	22,606	22,606	—	—
Other current financial liabilities
- Bank borrowings	130,840	130,840	—	—	130,840	—
- Derivative instruments	—	—	—	—	—	—
- Forwards	—	—	4,848	—	4,848	—
- Options	—	—	968	—	968	—
- Hedging liabilities – Swaps	—	—	42,754	—	42,754	—
- Swaps hedges, investments	—	—	—	—	—	—
- Unsecured obligations	343,589	343,589	—	—	343,589	—
Other non-current financial liabilities
- Bank borrowings	197,522	196,598	—	—	196,598	—
- Unsecured obligations	2,176,924	2,476,924	—	—	2,476,924	—
- Non-current hedging liabilities	—	—	19,772	—	19,772	—


	As of December 31, 2021			Measurement Methodology
		Fair value
	Carrying Amount at	(disclosure	Fair amount
Fair value measurement of assets and liabilities	Amortized Cost	purposes)	registered	Level 1	Level 2	Level 3
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
Financial Assets
Cash and cash equivalents	1,515,051	1,515,051	—	—	1,515,051	—
Other current financial assets
- Time deposits	905,170	905,170	—	—	905,170	—
- Derivative financial instruments
- Forwards	—	—	1,031	—	1,031	—
- Options	—	—	223	—	223	—
- Hedging assets	—	—	—	—	—	—
- Swaps	—	—	12,625	—	12,625	—
Non-current accounts receivable	6,172	6,172	—	—	—	—
Other non-current financial assets:
- Other	91	91	—	—	91	—
- Equity instruments	—	—	9,177	9,177	—	—
- Hedging assets – Swaps	—	—	—	—	—	—
Other current financial liabilities
- Bank borrowings	85	85	—	—	85	—
- Derivative instruments	—	—	—	—	—	—
- Forwards	—	—	1,270	—	1,270	—
- Options	—	—	402	—	402	—
- Hedging liabilities – Swaps	—	—	8,954	—	8,954	—
- Swaps hedges, investments	—	—	—	—	—	—
- Unsecured obligations	40,594	40,594	—	—	40,594	—
Other non-current financial liabilities
- Bank borrowings	69,613	70,497	—	—	70,497	—
- Unsecured obligations	2,445,219	2,871,005	—	—	2,871,005	—
- Non-current hedging liabilities	—	—	72,900	—	72,900	—

12.8 Reconciliation of net debt and lease liabilities

This section presents an analysis of net debt plus lease liabilities and their movements for each of the reported periods. The definition of the net debt is described in Note 19.1. and includes current and non-current lease liabilities to complete its analysis.


	As of	As of
	December 31,	December 31,
Net debt	2022	2021
	ThUS$	ThUS$
Cash and cash equivalents	2,655,236	1,515,051
Other current financial assets	961,355	919,049
Other non-current financial hedge assets	22,606	245
Other current financial liabilities	(522,999)	(51,305)
Lease liabilities current	(12,149)	(7,704)
Other non-current financial liabilities	(2,394,218)	(2,587,732)
Non-current Lease liabilities	(49,585)	(46,519)
Total	660,246	(258,915)


	As of	From cash flow			Not from cash flow			As of
	December 31,	Amounts from	Amounts from	Other cash	Interests	Exchange rate	Fair value	December 31,
Net debt	2021	loans	interests	income/expenses		differences		2022
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
Obligations with the public and bank loans	(2,555,511)	(246,883)	98,155	2,566	(103,100)	(44,102)	—	(2,848,875)
Current and non-current lease liabilities	(54,223)	10,478	1,226	—	(20,426)	1,211	—	(61,734)
Financial instruments derived from hedging	(81,597)	993	7,623	—	37,494	—	25,426	(10,061)
Non-hedging derivative financial instruments (net)	(418)	—	—	(39,878)	38,653	—	—	(1,643)
Hedging and investment derivatives	12,613	—	—	(52,698)	16,104	—	(6,003)	(29,984)
Current and non-current financial liabilities	(2,679,136)	(235,412)	107,004	(90,010)	(31,275)	(42,891)	19,423	(2,952,297)
Cash and cash equivalents	1,515,051	—	—	1,165,225	—	(25,040)	—	2,655,236
Deposits that do not qualify as cash and cash equivalents	905,170	—	(48,120)	62,859	47,038	(16,779)	—	950,168
Derivatives for investment hedges SQM Australia	—	—	—	2,022	—	—	5,117	7,139
Total	(258,915)	(235,412)	58,884	1,140,096	15,763	(84,710)	24,540	660,246


	As of	From cash flow			Not from cash flow			As of
	December 31,	Amounts from	Amounts from	Other cash	Interests	Exchange rate	Fair value	December 31,
Net debt	2020	loans	interests	income/expenses		differences		2021
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
Obligations with the public and bank loans	(1,922,864)	(685,130)	75,578	16,570	(84,138)	44,473	—	(2,555,511)
Current and non-current lease liabilities	(31,074)	7,960	1,587	—	(32,877)	181	—	(54,223)
Financial instruments derived from hedging	18,070	(760)	7,238	—	(52,254)	—	(53,891)	(81,597)
Derivatives from other financial non-hedge assets	(2,784)	—	—	(2,327)	4,693	—	—	(418)
Current and non-current financial liabilities	(1,938,652)	(677,930)	84,403	14,243	(164,576)	44,654	(53,891)	(2,691,749)
Cash and cash equivalents	509,102	—	—	1,022,061	—	(16,112)		1,515,051
Deposits that do not qualify as cash and cash equivalents	345,459	—	(2,747)	585,106	4,668	(27,316)	—	905,170
Derivatives from hedge assets	(21,004)	—	—	9,405	23,083	—	1,129	12,613
Total	(1,105,095)	(677,930)	81,656	1,630,815	(136,825)	1,226	(52,762)	(258,915)

Cash and cash equivalents - Types of Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash and cash equivalents.
Cash on hand	$ 43	$ 44
Cash in banks	529,606	662,407
Total cash	529,649	662,451
Short-term deposits, classified as cash equivalents	1,099,441	237,655
Short-term investments, classified as cash equivalents	1,026,146	614,945
Total cash equivalents	2,125,587	852,600
Total cash and cash equivalents	$ 2,655,236	$ 1,515,051	$ 509,102	$ 588,530

Equity-accounted investees - Disclosures Regarding Interests in Associates (Details) $ in Thousands		1 Months Ended	3 Months Ended					12 Months Ended
	Jun. 30, 2021 USD ($)	Feb. 28, 2022 USD ($)	Jun. 30, 2021 USD ($)	Mar. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Sep. 30, 2020 USD ($) shares	Jun. 30, 2020 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Equity-accounted investees [Line Items]
Profit loss from sale of interests in associates						$ 643
Dividends received								$ 6,354	$ 11,663	$ 3,164
Kore Potash PLC
Equity-accounted investees [Line Items]
Percentage share reduction				0.05%	0.06%		0.60%
Transfer in equity of non controlling interest to other reserves				$ 3,739
Increase decrease in equity through share based payment transaction					$ 79		$ 754
Proportion of ownership interest in associate				20.15%	20.20%		19.07%
Issue of equity			$ 13,931
Percentage of dilution of shares			5.5
Profit loss from sale of interests in associates			$ 5,778
Kore Potash PLC \| SQM \| South Africa
Equity-accounted investees [Line Items]
Investment in associate shares \| shares						260,598,591
Total shares in associates \| shares						584,753,846
Payment to acquire investment in associates						$ 1,679
Proportion of ownership interest in associate						20.26%
Plantacote N.V. \| WSNPK \| SQM \| Netherlands
Equity-accounted investees [Line Items]
Business combination total purchase consideration					$ 16,757					16,757
Business combination goodwill					$ 7,380					7,380
Doktor Tarsa Tarim Sanayi AS
Equity-accounted investees [Line Items]
Proceeds from sales of interests in associates						$ 33,066
Profit loss from sale of interests in associates						11,408
SQM Eastmed Turkey
Equity-accounted investees [Line Items]
Proceeds from sales of interests in associates						618
Profit loss from sale of interests in associates						$ 408
Abu Dhabi Fertilizer Industries WWL
Equity-accounted investees [Line Items]
Proportion of ownership interest in associate								37.00%
Dividends received		$ 3,000						$ 3,000	9,438	$ 0
Dividend income		$ 523
Impairment loss recognised in profit or loss	$ 2,800
Related Party of Abu Dhabi Fertilizer Industries WWL
Equity-accounted investees [Line Items]
Dividends receivable									2,477
Related Party of Abu Dhabi Fertilizer Industries WWL \| Internacional Technical and Trading Agenies Co. WLL
Equity-accounted investees [Line Items]
Dividends received									$ 9,438

Income tax and deferred taxes - Movements in Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income tax and deferred taxes
Deferred tax liability (asset) at beginning of period	$ (110,416)	$ (156,101)
Increase (decrease) in deferred taxes in profit or loss	430,978	27,763
Increase (decrease) in deferred taxes in equity	(5,916)	17,922
Deferred tax liability (asset) at end of period	$ 314,646	$ (110,416)

Financial instruments - Payments Made on Series O Bonds (Details) - Series O bonds - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Interest payment
Financial instruments [Line Items]
Repayments of bonds, notes and debentures	$ 2,139	$ 2,225	$ 2,070
CCS Coverage
Financial instruments [Line Items]
Repayments of bonds, notes and debentures	$ 556	$ 438	$ 599

Joint Ventures - Narrative (Details) - USD ($)			3 Months Ended			12 Months Ended
Joint Ventures - Narrative (Details) - USD ($)	Feb. 09, 2021	Jan. 17, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2017
Statement [Line Items]
Other cash payments to acquire interests in joint ventures, classified as investing activities						$ 0	$ 0	$ 16,949,000
Gain loss on disposal of investments in joint ventures				$ 643,000
Soquimich European Holding B.V.
Statement [Line Items]
Other cash payments to acquire interests in joint ventures, classified as investing activities					$ 1,276,000
Arpa Speciali SRL
Statement [Line Items]
Disposal of interests in joint ventures consideration receivable					56,000
Gain loss on disposal of investments in joint ventures					125,000
Proceeds from disposal of interests in joint ventures					17,000
Arpa Speciali SRL \| Other accounts receivable
Statement [Line Items]
Disposal of interest in joint ventures balance consideration receivable current					$ 20,000
Coromandel SQM India
Statement [Line Items]
Proceeds from disposal of interests in joint ventures				$ 1,604,000
SQM Qinqdao Star Corp Nutrition Co. Ltd.
Statement [Line Items]
Gain loss on disposal of investments in joint ventures			$ 62,000
Proceeds from disposal of interests in joint ventures			1,303,000
Sichuan SQM Migao Chemical Fertilizers Co Ltd.
Statement [Line Items]
Reversal of impairment losses on investment in associates			$ 7,036,000
Sales contracts and interest in the joint venture	$ 11,500,000
Mt Holland
Statement [Line Items]
Other cash payments to acquire interests in joint ventures, classified as investing activities		$ 700,000,000
Ownership Interest									50.00%
Number of Metric tons capacity						50,000
Contribution towards projects in joint operations						$ 475,000,000
Pending contribution towards investment						$ 450,000,000

Reportable segments (Tables)

12 Months Ended

Dec. 31, 2022

Reportable segments

Schedule of operating segments


	Specialty					Other				Total as of
	plant	Iodine and its	Lithium and	Industrial		products	Reportable	Operating	Unallocated	December 31,
Operating segment items for the year ended December 31, 2022	nutrients	derivatives	its derivatives	chemicals	Potassium	and services	segments	segments	amounts	2022
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
Revenue	1,172,334	754,339	8,152,939	165,200	437,180	28,586	10,710,578	10,710,578	—	10,710,578
Revenues from transactions with other operating segments of the same entity	—	—	—	—	—	—	—	—	—	—
Revenues from external customers and transactions with other operating segments of the same entity	1,172,334	754,339	8,152,939	165,200	437,180	28,586	10,710,578	10,710,578	—	10,710,578
Costs of sales	(722,261)	(282,100)	(3,636,852)	(112,247)	(193,581)	(26,912)	(4,973,953)	(4,973,953)	—	(4,973,953)
Administrative expenses	—	—	—	—	—	—	—	—	(142,644)	(142,644)
Finance expense	—	—	—	—	—	—	—	—	(86,651)	(86,651)
Depreciation and amortization expense	(63,321)	(53,734)	(88,510)	(14,724)	(24,043)	(126)	(244,458)	(244,458)	—	(244,458)
The entity’s interest in the profit or loss of associates and joint ventures accounted for by the equity method	—	—	—	—	—	—	—	—	20,159	20,159
Income before taxes	450,073	472,239	4,516,087	52,953	243,599	1,674	5,736,625	5,736,625	(250,129)	5,486,496
Income tax expense	—	—	—	—	—	—	—	—	(1,572,212)	(1,572,212)
Net income (loss)	450,073	472,239	4,516,087	52,953	243,599	1,674	5,736,625	5,736,625	(1,822,341)	3,914,284
Assets	—	—	—	—	—	—	—	—	10,819,101	10,819,101
Equity-accounted investees	—	—	—	—	—	—	—	—	54,386	54,386
Incorporation of non-current assets other than financial instruments, deferred tax assets, net defined benefit assets and rights arising from insurance contracts	—	—	—	—	—	—	—	—	1,757,581	1,757,581
Liabilities	—	—	—	—	—	—	—	—	5,887,100	5,887,100
Impairment loss of financial assets recognized in profit or loss							—	—	3,369	3,369
Impairment loss of non-financial assets recognized in profit or loss	—	—	—	—	—	—	—	—	(42,233)	(42,233)
Cash flows
Cash flows from operating activities	—	—	—	—	—	—	—	—	4,077,595	4,077,595
Cash flows used in investing activities	—	—	—	—	—	—	—	—	(909,401)	(909,401)
Cash flows from financing activities	—	—	—	—	—	—	—	—	(2,002,969)	(2,002,969)


	Specialty					Other				Total as of
	plant	Iodine and its	Lithium and	Industrial		products	Reportable	Operating	Unallocated	December 31,
Operating segment items for the year ended December 31, 2021	nutrients	derivatives	its derivatives	chemicals	Potassium	and services	segments	segments	amounts	2021
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
Revenue	908,815	437,931	936,121	132,011	416,592	30,845	2,862,315	2,862,315	—	2,862,315
Revenues from transactions with other operating segments of the same entity	—	—	—	—	—	—	—	—	—	—
Revenues from external customers and transactions with other operating segments of the same entity	908,815	437,931	936,121	132,011	416,592	30,845	2,862,315	2,862,315	—	2,862,315
Costs of sales	(646,930)	(240,341)	(494,794)	(109,067)	(253,125)	(27,951)	(1,772,208)	(1,772,208)	—	(1,772,208)
Administrative expenses	—	—	—	—	—	—	—	—	(118,893)	(118,893)
Finance expense	—	—	—	—	—	—	—	—	(84,626)	(84,626)
Depreciation and amortization expense	(58,808)	(41,215)	(65,014)	(13,743)	(35,290)	(169)	(214,239)	(214,239)	—	(214,239)
The entity’s interest in the profit or loss of associates and joint ventures accounted for by the equity method	—	—	—	—	—	—	—	—	11,132	11,132
Income before taxes	261,885	197,590	441,327	22,944	163,467	2,894	1,090,107	1,090,107	(248,886)	841,221
Income tax expense	—	—	—	—	—	—	—	—	(249,016)	(249,016)
Net income (loss)	261,885	197,590	441,327	22,944	163,467	2,894	1,090,107	1,090,107	(497,902)	592,205
Assets	—	—	—	—	—	—	—	—	7,180,201	7,180,201
Equity-accounted investees	—	—	—	—	—	—	—	—	39,824	39,824
Incorporation of non-current assets other than financial instruments, deferred tax assets, net defined benefit assets and rights arising from insurance contracts	—	—	—	—	—	—	—	—	152,663	152,663
Liabilities	—	—	—	—	—	—	—	—	3,964,230	3,964,230
Impairment loss of financial assets recognized in profit or loss							—	—	(235)	(235)
Impairment loss of non-financial assets recognized in profit or loss	—	—	—	—	—	—	—	—	(6,060)	(6,060)
Cash flows
Cash flows from operating activities	—	—	—	—	—	—	—	—	822,520	822,520
Cash flows used in investing activities	—	—	—	—	—	—	—	—	(1,006,943)	(1,006,943)
Cash flows from financing activities	—	—	—	—	—	—	—	—	1,206,485	1,206,485


	Specialty					Other				Total as of
	plant	Iodine and its	Lithium and	Industrial		products	Reportable	Operating	Unallocated	December 31,
Operating segment items for the year ended December 31, 2020	nutrients	derivatives	its derivatives	chemicals	Potassium	and services	segments	segments	amounts	2020
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
Revenue	701,688	334,657	383,373	160,608	209,294	27,571	1,817,191	1,817,191	—	1,817,191
Revenues from transactions with other operating segments of the same entity	—	—	—	—	—	—	—	—	—	—
Revenues from external customers and transactions with other operating segments of the same entity	701,688	334,657	383,373	160,608	209,294	27,571	1,817,191	1,817,191	—	1,817,191
Costs of sales	(537,801)	(168,499)	(297,048)	(119,092)	(187,019)	(24,862)	(1,334,321)	(1,334,321)	—	(1,334,321)
Administrative expenses	—	—	—	—	—	—	—	—	(107,017)	(107,017)
Finance expense	—	—	—	—	—	—	—	—	(82,199)	(82,199)
Depreciation and amortization expense	(55,335)	(40,687)	(56,092)	(14,136)	(34,570)	(3,092)	(203,912)	(203,912)	—	(203,912)
The entity’s interest in the profit or loss of associates and joint ventures accounted for by the equity method	—	—	—	—	—	—	—	—	8,940	8,940
Income before taxes	163,887	166,158	86,325	41,516	22,275	2,709	482,870	482,870	(244,332)	238,538
Income tax expense	—	—	—	—	—	—	—	—	(70,179)	(70,179)
Net income (loss)	163,887	166,158	86,325	41,516	22,275	2,709	482,870	482,870	(314,511)	168,359
Assets	—	—	—	—	—	—	—	—	4,818,463	4,818,463
Equity-accounted investees	—	—	—	—	—	—	—	—	85,993	85,993
Incorporation of non-current assets other than financial instruments, deferred tax assets, net defined benefit assets and rights arising from insurance contracts	—	—	—	—	—	—	—	—	358,009	358,009
Other Liabilities	—	—	—	—	—	—	—	—	2,655,885	2,655,885
Impairment loss of financial assets recognized in profit or loss	—	—	—	—	—	—	—	—	4,684	4,684
Impairment loss of non-financial assets recognized in profit or loss	—	—	—	—	—	—	—	—	(11,644)	(11,644)
Cash flows
Cash flows from operating activities	—	—	—	—	—	—	—	—	182,234	182,234
Cash flows used in investing activities	—	—	—	—	—	—	—	—	(167,091)	(167,091)
Cash flows from financing activities	—	—	—	—	—	—	—	—	(94,132)	(94,132)


Items in the statement of comprehensive income for the year ended December 31,2022	Specialty plant nutrients	Iodine and its derivatives	Lithium and its derivatives	Industrial chemicals	Potassium	Other products and services	Corporate Unit	Total segments and Corporate unit
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
Revenue	1,172,334	754,339	8,152,939	165,200	437,180	28,586	—	10,710,578
Costs of sales	(722,261)	(282,100)	(3,636,852)	(112,247)	(193,581)	(26,912)	—	(4,973,953)
Gross profit	450,073	472,239	4,516,087	52,953	243,599	1,674	—	5,736,625
Other incomes by function	—	—	—	—	—	—	9,854	9,854
Administrative expenses	—	—	—	—	—	—	(142,644)	(142,644)
Other expenses by function	—	—	—	—	—	—	(75,971)	(75,971)
Impairment of gains and review of impairment losses (impairment losses) determined in accordance with IFRS 9	—	—	—	—	—	—	3,369	3,369
Other losses	—	—	—	—	—	—	117	117
Financial income	—	—	—	—	—	—	47,038	47,038
Financial costs	—	—	—	—	—	—	(86,651)	(86,651)
Interest in the profit (loss) of associates and joint ventures accounted for by the equity method	—	—	—	—	—	—	20,159	20,159
Exchange differences	—	—	—	—	—	—	(25,400)	(25,400)
Profit (loss) before taxes	450,073	472,239	4,516,087	52,953	243,599	1,674	(250,129)	5,486,496
Income tax expense	—	—	—	—	—	—	(1,572,212)	(1,572,212)
Profit (loss) net	450,073	472,239	4,516,087	52,953	243,599	1,674	(1,822,341)	3,914,284


Items in the statement of comprehensive income for the year ended December 31,2021	Specialty plant nutrients	Iodine and its derivatives	Lithium and its derivatives	Industrial chemicals	Potassium	Other products and services	Corporate Unit	Total segments and Corporate unit
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
Revenue	908,815	437,931	936,121	132,011	416,592	30,845	—	2,862,315
Costs of sales	(646,930)	(240,341)	(494,794)	(109,067)	(253,125)	(27,951)	—	(1,772,208)
Gross profit	261,885	197,590	441,327	22,944	163,467	2,894	—	1,090,107
Other incomes by function	—	—	—	—	—	—	19,552	19,552
Administrative expenses	—	—	—	—	—	—	(118,893)	(118,893)
Other expenses by function	—	—	—	—	—	—	(60,605)	(60,605)
Impairment of gains and review of impairment losses (impairment losses) determined in accordance with IFRS 9	—	—	—	—	—	—	(235)	(235)
Other losses	—	—	—	—	—	—	(2,638)	(2,638)
Financial income	—	—	—	—	—	—	4,668	4,668
Financial costs	—	—	—	—	—	—	(84,626)	(84,626)
Interest in the profit (loss) of associates and joint ventures accounted for by the equity method	—	—	—	—	—	—	11,132	11,132
Exchange differences	—	—	—	—	—	—	(17,241)	(17,241)
Profit (loss) before taxes	261,885	197,590	441,327	22,944	163,467	2,894	(248,886)	841,221
Income tax expense	—	—	—	—	—	—	(249,016)	(249,016)
Profit (loss) net	261,885	197,590	441,327	22,944	163,467	2,894	(497,902)	592,205


Items in the statement of comprehensive income for the year ended December 31,2020	Specialty plant nutrients	Iodine and its derivatives	Lithium and its derivatives	Industrial chemicals	Potassium	Other products and services	Corporate Unit	Total segments and Corporate unit
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
Revenue	701,688	334,657	383,373	160,608	209,294	27,571	—	1,817,191
Cost of sales	(537,801)	(168,499)	(297,048)	(119,092)	(187,019)	(24,862)	—	(1,334,321)
Gross profit	163,887	166,158	86,325	41,516	22,275	2,709	—	482,870
Other incomes by function	—	—	—	—	—	—	26,893	26,893
Administrative expenses	—	—	—	—	—	—	(107,017)	(107,017)
Other expenses by function	—	—	—	—	—	—	(99,612)	(99,612)
Impairment of gains and review of impairment losses (impairment losses) determined in accordance with IFRS 9	—	—	—	—	—	—	4,684	4,684
Other losses	—	—	—	—	—	—	(5,313)	(5,313)
Financial income	—	—	—	—	—	—	13,715	13,715
Financial costs	—	—	—	—	—	—	(82,199)	(82,199)
Interest in the profit (loss) of associates and joint ventures accounted for by the equity method	—	—	—	—	—	—	8,940	8,940
Exchange differences	—	—	—	—	—	—	(4,423)	(4,423)
Profit (loss) before taxes	163,887	166,158	86,325	41,516	22,275	2,709	(244,332)	238,538
Income tax expense	—	—	—	—	—	—	(70,179)	(70,179)
Profit (loss) from continuing operations	163,887	166,158	86,325	41,516	22,275	2,709	(314,511)	168,359

Schedule of geographical areas


		Latin America and the
Segements by geographical areas	Chile	Caribbean	Europe	North America	Asia and others	Total
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
Revenue at December 31, 2022	223,148	339,940	932,558	914,187	8,300,745	10,710,578
Non-current assets at December 31, 2022
Investment accounted for under the equity method	—	20,792	15,939	17,655	—	54,386
Intangible assets other than goodwill	75,666	428	6,497	1,345	82,400	166,336
Goodwill	—	86	158	723	—	967
Property, plant and equipment, net	2,269,923	743	14,978	4,506	436,688	2,726,838
Right-of-use assets	32,312	47	1,651	2,739	24,118	60,867
Other non-current assets	46,640	17	6	4,706	1,027	52,396
Non-current assets	2,424,541	22,113	39,229	31,674	544,233	3,061,790


		Latin America and the
Segements by geographical areas	Chile	Caribbean	Europe	North America	Asia and others	Total
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
Revenue for the year ended December 31, 2021	219,648	326,287	482,765	558,002	1,275,613	2,862,315
Non-current assets at December 31, 2021
Investment accounted for under the equity method	—	8,683	15,242	15,899	—	39,824
Intangible assets other than goodwill	89,019	496	6,996	1,809	81,338	179,658
Goodwill	22,979	86	11,531	—	—	34,596
Property, plant and equipment, net	1,815,997	671	11,380	3,704	180,473	2,012,225
Right-of-use assets	29,803	68	2,040	3,351	17,346	52,608
Other non-current assets	27,626	16	6	3,950	1,889	33,487
Non-current assets	1,985,424	10,020	47,195	28,713	281,046	2,352,398


		Latin America and the
Segements by geographical areas	Chile	Caribbean	Europe	North America	Asia and others	Total
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
Revenue for the year ended December 31, 2020	153,745	159,990	380,126	427,572	695,758	1,817,191
Non-current assets at December 31, 2020
Investment accounted for under the equity method	—	—	41,273	14,468	30,252	85,993
Intangible assets other than goodwill	95,934	565	825	2,274	78,809	178,407
Goodwill	23,065	—	18,901	—	—	41,966
Property, plant and equipment, net	1,667,824	642	12,592	3,494	52,767	1,737,319
Right-of-use assets	23,461	2,298	2,428	1,776	61	30,024
Other non-current assets	19,377	17	7	2,641	—	22,042
Non-current assets	1,829,661	3,522	76,026	24,653	161,889	2,095,751

Gains (losses) from operating activities in the statement of income of expenses, included according to their nature - Other Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Depreciation and amortization expense
Subtotal	$ (244,458)	$ (214,239)	$ (203,912)
Impairment (losses) /reversals of impairment losses recognized in profit for the year
Properties, plant and equipment	(8,084)	(5,582)
Intangible assets other than goodwill	34,857	478
Other expenses, by nature
Subtotal	(5,192,568)	(1,951,706)	(1,540,950)
Total	(75,971)	(60,605)	(99,612)
Other expenses
Depreciation and amortization expense
Depreciation of assets not in use	0	0	(138)
Subtotal	0	0	(138)
Impairment (losses) /reversals of impairment losses recognized in profit for the year
Properties, plant and equipment	(8,084)	(5,582)	(9,563)
Intangible assets other than goodwill	(520)	(478)	(1,941)
Goodwill	(33,629)	0	(140)
Non-current assets and disposal groups held for sale	0	0	0
Subtotal	(42,233)	(6,060)	(11,644)
Other expenses, by nature
Legal expenses	(6,841)	(42,254)	(69,965)
VAT and other unrecoverable taxes	(5,694)	(1,015)	(626)
Fines paid	(617)	(882)	(314)
Investment plan expenses	(727)	1	(768)
Exploration expenses	0	(284)	(5,262)
Contributions and donations	(19,096)	(9,037)	(8,793)
Other operating expenses	(763)	(1,074)	(2,102)
Subtotal	$ (33,738)	$ (54,545)	$ (87,830)

Board of directors, Senior Management and Key management personnel - Narrative (Details) CLF in Thousands, $ in Thousands			12 Months Ended
	Apr. 26, 2022 CLF director	Apr. 23, 2021 CLF	Dec. 31, 2022 USD ($) director employee	Dec. 31, 2022 CLF director employee	Dec. 31, 2021 USD ($) director employee	Dec. 31, 2021 CLF director employee	Dec. 31, 2020 USD ($)	Apr. 26, 2023 director
Related party disclosures [Line Items]
Number of directors \| director	6							6
Key management personnel compensation \| CLF	CLF 600	CLF 600
Key management personnel compensation, percentage	0.06%	0.06%
Percentage of net earnings for variable compensation			110.00%	110.00%
Number of employees \| employee			6,997	6,997	6,081	6,081
Chairman
Related party disclosures [Line Items]
Key management personnel compensation \| CLF	CLF 800	CLF 80
Key management personnel compensation, percentage	0.12%	0.12%
Directors
Related party disclosures [Line Items]
Number of directors \| director	2		8	8
Directors committee
Related party disclosures [Line Items]
Number of directors \| director			3	3	3	3
Key management personnel compensation			$ 6,711	CLF 200	$ 3,749	CLF 200	$ 4,553
Key management personnel compensation, percentage			0.02%	0.02%	0.02%	0.02%
Percentage of net earnings for variable compensation			110.00%	110.00%
Health, Safety and Environmental Matters Committee
Related party disclosures [Line Items]
Number of directors \| director					3	3
Key management personnel compensation \| CLF						CLF 100
Corporate Governance Committee
Related party disclosures [Line Items]
Number of directors \| director					3	3
Key management personnel compensation \| CLF						CLF 100
Vice President
Related party disclosures [Line Items]
Key management personnel compensation \| CLF	CLF 700	CLF 70
Key management personnel
Related party disclosures [Line Items]
Key management personnel compensation \| $			$ 29,633		$ 31,560		$ 23,770
Number of employees			142	142	127	127

Identification and activities of the Company and Subsidiaries - Employees (Details) - employee	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Information About Employees Explanatory [Line Items]
Number of employees	6,997	6,081
In Chile
Disclosure Of Information About Employees Explanatory [Line Items]
Number of employees	6,533	5,671
Outside Chile
Disclosure Of Information About Employees Explanatory [Line Items]
Number of employees	464	410
Executives
Disclosure Of Information About Employees Explanatory [Line Items]
Number of employees	160	136
Professionals
Disclosure Of Information About Employees Explanatory [Line Items]
Number of employees	2,683	1,756
Technicians and operators
Disclosure Of Information About Employees Explanatory [Line Items]
Number of employees	4,154	4,189
SQM S.A.
Disclosure Of Information About Employees Explanatory [Line Items]
Number of employees	518	425
SQM S.A. \| In Chile
Disclosure Of Information About Employees Explanatory [Line Items]
Number of employees	518	425
SQM S.A. \| Outside Chile
Disclosure Of Information About Employees Explanatory [Line Items]
Number of employees	0	0
SQM S.A. \| Executives
Disclosure Of Information About Employees Explanatory [Line Items]
Number of employees	32	33
SQM S.A. \| Professionals
Disclosure Of Information About Employees Explanatory [Line Items]
Number of employees	177	117
SQM S.A. \| Technicians and operators
Disclosure Of Information About Employees Explanatory [Line Items]
Number of employees	309	275
Other subsidiaries
Disclosure Of Information About Employees Explanatory [Line Items]
Number of employees	6,479	5,656
Other subsidiaries \| In Chile
Disclosure Of Information About Employees Explanatory [Line Items]
Number of employees	6,015	5,246
Other subsidiaries \| Outside Chile
Disclosure Of Information About Employees Explanatory [Line Items]
Number of employees	464	410
Other subsidiaries \| Executives
Disclosure Of Information About Employees Explanatory [Line Items]
Number of employees	128	103
Other subsidiaries \| Professionals
Disclosure Of Information About Employees Explanatory [Line Items]
Number of employees	2,506	1,639
Other subsidiaries \| Technicians and operators
Disclosure Of Information About Employees Explanatory [Line Items]
Number of employees	3,845	3,914

Equity-accounted investees (Tables)

12 Months Ended

Dec. 31, 2022

Equity-accounted investees

Schedule of investments in associates


				Share in profit (loss) of associates				Share in other comprehensive income of				Share in total comprehensive income of
				accounted for using the equity				associates accounted for using the equity				associates accounted for using the equity
	Equity-accounted investees				method				method				method
					For the year	For the year	For the year		For the year	For the year	For the year		For the year	For the year	For the year
	As of	As of	As of		ended	ended	ended		ended	ended	ended		ended	ended	ended
	December	December	December		December	December	December		December	December	December		December	December	December
Associate	31, 2022	31, 2021	31, 2020		31, 2022	31, 2021	31, 2020		31, 2022	31, 2021	31, 2020		31, 2022	31, 2021	31, 2020
	ThUS$	ThUS$	ThUS$		ThUS$	ThUS$	ThUS$		ThUS$	ThUS$	ThUS$		ThUS$	ThUS$	ThUS$
Abu Dhabi Fertilizer Industries WWL	—	—	11,505		—	—	(156)		—	—	—		—	—	(156)
Doktor Tarsa Tarim Sanayi AS (*)	—	—	—		—	—	4,031		—	—	—		—	—	4,031
Ajay North America	17,654	15,899	14,468		5,351	2,802	2,191		—	—	—		5,351	2,802	2,191
Ajay Europe SARL	8,624	8,213	7,875		6,130	1,852	1,029		(498)	360	756		5,632	2,212	1,785
SQM Eastmed Turkey (*)	—	—	—		—	—	247		—	—	—		—	—	247
Kore Potash PLC (**)	—	—	26,175		—	—	(224)		—	—	(374)		—	—	(598)
Total	26,278	24,112	60,023		11,481	4,654	7,118		(498)	360	382		10,983	5,014	7,500

(*)	These investments were disposed of in 2020

(**)	For more details, see Note 7.3 (b).

Schedule of dividends received from associates

Dividends received for the year ending

Share of

Description of the nature

Country of

ownership in

December 31,

Associate

of the relationship

Address

incorporation

associates

2022

2021

2020

ThUS$

Abu Dhabi Fertilizer Industries WWL

Distribution and commercialization of specialty plant nutrients in the Middle East.

PO Box 71871, Abu Dhabi

United Arab Emirates

3,000

9,438

—

Ajay North America

Production and distribution of iodine and iodine derivatives.

1400 Industry RD Power Springs GA 30129

United States of North America

1,576

1,233

1,967

Ajay Europe SARL

Production and distribution of iodine and iodine derivatives.

Z.I. du Grand Verger BP 227 53602 Evron Cedex

France

1,778

992

1,197

Total

6,354

11,663

3,164

Schedule of assets, liabilities, revenue and expenses of associates

As of December 31, 2022

For the year ended December 31, 2022

Assets

Liabilities

Other

comprehensive

Comprehensive

Associate

Current

Non-current

Current

Non-current

Revenue

Net income (loss)

income

ThUS$

Ajay North America

30,455

15,972

10,395

63,482

10,919

—

10,919

Ajay Europe SARL

33,742

1,992

18,486

—

64,060

12,261

(21)

12,240

Total

64,197

17,964

28,881

127,542

23,180

(21)

23,159

As of December 31, 2021

For the year ended December 31, 2021

Assets

Liabilities

Other

comprehensive

Comprehensive

Associate

Current

Non-current

Current

Non-current

Revenue

Net income (loss)

income

ThUS$

Ajay North America

21,771

15,096

4,421

—

47,375

5,718

—

5,718

Ajay Europe SARL

25,927

1,241

10,742

—

48,409

3,705

(34)

3,671

Total

47,698

16,337

15,163

—

95,784

9,423

(34)

9,389


	As of December 31, 2020				For the year ended December 31, 2020
	Assets		Liabilities				Other
							comprehensive	Comprehensive
Associate	Current	Non-current	Current	Non-current	Revenue	Net income (loss)	income	income
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
Abu Dhabi Fertilizer Industries WWL	29,313	8,586	6,706	101	6,641	(420)	—	(420)
Ajay North America	18,513	15,749	4,737	—	42,920	4,471	—	4,471
Ajay Europe SARL	22,032	1,493	7,773	—	41,950	2,058	1,736	3,794
Kore Potash PLC	5,691	124,112	786	—	—	(3,233)	486	(2,747)
Total	75,549	149,940	20,002	101	91,511	2,876	2,222	5,098

Financial instruments - Financial Assets By Institution (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Financial instruments [Line Items]
Other current financial assets	$ 961,355	$ 919,049
Banco Ita CorpBanca
Financial instruments [Line Items]
Other current financial assets	15,048	195,471
Banco Estado
Financial instruments [Line Items]
Other current financial assets	85,055	0
Financial assets at amortized cost
Financial instruments [Line Items]
Other current financial assets	950,167	905,170
Financial assets at amortized cost \| Banco de Crdito e Inversiones
Financial instruments [Line Items]
Other current financial assets	187,707	34,325
Financial assets at amortized cost \| Banco Santander
Financial instruments [Line Items]
Other current financial assets	51,444	65,899
Financial assets at amortized cost \| Banco de Chile
Financial instruments [Line Items]
Other current financial assets	150,259	0
Financial assets at amortized cost \| Scotiabank Sud Americano
Financial instruments [Line Items]
Other current financial assets	250,362	289,421
Financial assets at amortized cost \| Sumitomo Mitsui Banking
Financial instruments [Line Items]
Other current financial assets	$ 210,292	$ 320,054

Joint Ventures - Assets, Liabilities, Revenue and Expenses from Joint Ventures (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement [Line Items]
Current assets	$ 6,991,509	$ 4,586,095
Non-current assets	3,827,592	2,594,106
Current liabilities	3,051,547	991,709
Non-current liabilities	2,835,553	2,972,521
Revenue	10,710,578	2,862,315	$ 1,817,191
Net income (loss)	3,914,284	592,205	168,359
Other comprehensive income	14,291	(37,993)	19,266
Comprehensive income	3,928,575	554,212	187,625
Sichuan SQM Migao Chemical Fertilizers Co Ltd.
Statement [Line Items]
Current assets			29,507
Non-current assets			4,412
Current liabilities			14,156
Revenue			9
Net income (loss)			(562)
Comprehensive income			(562)
SQM Vitas Fzco.
Statement [Line Items]
Current assets	9,618	9,606	496
Non-current assets			20,431
Current liabilities	49	215	496
Non-current liabilities	0	0
Revenue	0	0
Net income (loss)	165	159	4,019
Other comprehensive income	0	0
Comprehensive income	165	159	4,019
SQM Vitas Brasil Agroindustria
Statement [Line Items]
Current assets	73,045	73,500	40,064
Non-current assets	6,111	4,846	5,527
Current liabilities	45,894	68,794	33,410
Non-current liabilities	0	0
Revenue	162,026	103,335	78,960
Net income (loss)	11,670	9,165	2,036
Other comprehensive income	602	(858)	(2,938)
Comprehensive income	12,272	8,307	(902)
SQM Vitas Peru S.A.C.
Statement [Line Items]
Current assets	59,196	28,610	34,548
Non-current assets	7,285	7,347	7,928
Current liabilities	49,596	24,473	33,145
Non-current liabilities	117	828	1,080
Revenue	61,387	48,128	37,591
Net income (loss)	4,586	3,289	1,319
Other comprehensive income	0	0
Comprehensive income	4,586	3,289	1,319
Joint ventures
Statement [Line Items]
Current assets	155,452	128,505	115,686
Non-current assets	22,842	21,543	47,922
Current liabilities	111,454	112,206	93,300
Non-current liabilities	3,936	3,042	2,826
Revenue	241,479	171,062	132,518
Net income (loss)	14,712	12,096	6,596
Other comprehensive income	258	(1,418)	(2,207)
Comprehensive income	14,970	10,678	4,389
Pavoni & C. Spa
Statement [Line Items]
Current assets	11,516	12,885	10,645
Non-current assets	6,358	6,714	7,493
Current liabilities	8,853	11,226	9,270
Non-current liabilities	802	725	836
Revenue	18,066	19,599	15,958
Net income (loss)	939	347	16
Other comprehensive income	(344)	(634)	698
Comprehensive income	595	(287)	714
Covalent Lithium Pty Ltd.
Statement [Line Items]
Current assets	2,077	3,904	1,418
Non-current assets	3,088	2,636	2,131
Current liabilities	7,062	7,498	2,823
Non-current liabilities	3,017	1,489	910
Revenue	0	0
Net income (loss)	(2,648)	(864)	(232)
Other comprehensive income	0	74	33
Comprehensive income	$ (2,648)	$ (790)	$ (199)

Disclosures on equity - Reserves in Equity (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosures on equity
Reserve for currency exchange conversion	$ (8,042)	$ (7,913)	$ (11,569)
Reserve for cash flow hedges	(14,575)	(34,025)	4,491
Reserve for gains and losses from financial assets measured at fair value through other comprehensive income	(10,973)	(11,146)	6,872
Reserve for actuarial gains or losses in defined benefit plans	(9,198)	(4,174)	(8,680)
Other reserves	11,663	13,103	16,318
Total	$ (31,125)	$ (44,155)	$ 7,432	$ (14,223)

Employee benefits

12 Months Ended

Dec. 31, 2022

Employee benefits

Employee benefits

Note 17 Employee benefits

17.1Provisions for employee benefits


	As of	As of
	December 31,	December 31,
Classes of benefits and expenses by employee	2022	2021
	ThUS$	ThUS$
Current
Profit sharing and bonuses	2,270	1,383
Performance bonus and operational	33,106	25,392
Total	35,376	26,775
Non-current
Profit sharing and bonuses	8,973	—
Severance indemnity payments	34,899	27,099
Total	43,872	27,099

17.2Policies on defined benefit plan

This policy is applied to all benefits received for services provided by the Company’s employees. This is divided as follows:

Short-term benefits for active employees are represented by salaries, social welfare benefits, paid time off, sickness and other types of leave, profit sharing and incentives and non-monetary benefits; e.g., healthcare service, housing, subsidized or free goods or services. These will be paid in a term which does not exceed twelve months. The Company maintains incentive programs for its employees, which are calculated based on the net result at the close of each period by applying a factor obtained from an evaluation based on their personal performance, the Company’s performance and other short-term and long-term indicators.

Staff severance indemnities are agreed and payable based on the final salary, calculated in accordance with each year of service to the Company, with certain maximum limits in respect of either the number of years or in monetary terms. In general, this benefit is payable when the employee or worker ceases to provide his/her services to the Company and there are a number of different circumstances through which a person can be eligible for it, as indicated in the respective agreements; e.g. retirement, dismissal, voluntary retirement, incapacity or disability, death, etc. See Note 17.3.

Obligations after employee retirement, described in Note 17.4.

Retention bonuses for a group of Company executives, described in Note 17.6.

17.3 Other long-term benefits

The actuarial assessment method has been used to calculate the Company’s obligations with respect to staff severance indemnities, which relate to defined benefit plans consisting of days of remuneration per year served at the time of retirement under conditions agreed in the respective agreements established between the Company and its employees.

Under this benefit plan, the Company retains the obligation to pay staff severance indemnities related to retirement, without establishing a separate fund with specific assets, which is referred to as not funded.

Benefit payment conditions

The staff severance indemnity benefit relates to remuneration days for years worked for the Company without a limit being imposed in regard of amount of salary or years of service. It applies when employees cease to work for the Company because they are made redundant or in the event of their death. This benefit is applicable up to a maximum age of 65 for men and 60 for women, which are the usual retirement ages according to the Chilean pensions system as established in Decree Law 3,500 of 1980.

Methodology

The determination of the defined benefit obligation is made under the requirements of IAS 19 “Employee benefits”.

17.4Post-employment benefit obligations

Our subsidiary SQM NA, together with its employees established a pension plan until 2002 called the “SQM North America Retirement Income Plan”. This obligation is calculated measuring the expected future forecast staff severance indemnity obligation using a net salary gradual rate of restatements for inflation, mortality and turnover assumptions, discounting the resulting amounts at present value using the interest rate defined by the authorities.

Since 2003, SQM NA offers benefits related to pension plans based on the 401-K system to its employees, which do not generate obligations for the Company.

A settlement was reflected in the last quarter of 2022 for the purchase of annuities by the pension plan for all inactive participants.


	As of	As of	As of
	December 31,	December 31,	December 31,
Reconciliation Changes in the benefit obligation	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Opening balance	9,550	9,864	9,586
Current cost of service	—	—	—
Interest cost	255	240	280
Actuarial gains loss	(1,357)	(135)	506
Settlement	(7,739)
Benefits paid	(430)	(419)	(508)
Total benefit obligation (A)	279	9,550	9,864


	As of	As of	As of
Reconciliation	December 31,	December 31,	December 31,
Changes in plan assets	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Fair value of plan assets at the start of the year	13,497	12,888	8,754
Real return (loss) in the plan assets	(346)	1,028	4,642
Benefits paid	(430)	(419)	(508)
Settlement	(7,739)	—	—
Fair value of plan assets at the end of the year	4,982	13,497	12,888
Non-current-assets	4,703	3,947	3,025
Elements not yet recognized as components of the cost of periodic net pensions:
Net actuarial loss at the beginning of the year	1,039	192	(3,634)
Amortization during the year	—	—	326
Settlement	(1,627)	—	—
Gain	647	847	3,500
Adjustment to recognize the minimum pension obligation	59	1,039	192


	For the	For the	For the
	year ended	year ended	year ended
Cost of service or benefits received during the year	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Financial cost	255	240	280
Real loss in plan assets	(363)	(316)	(637)
Settlement	(1,627)	—	—
Amortization of prior year losses	—	—	326
Net periodic pension expenses	(1,735)	(76)	(31)

17.5Staff severance indemnities

As of December 31, 2022, and 2021, severance indemnities calculated at the actuarial value are as follows:


	As of	As of	As of
	December 31,	December 31,	December 31,
Staff severance indemnities	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Opening balance	(27,099)	(32,199)	(27,814)
Current cost of service	(4,204)	(4,978)	(3,804)
Interest cost	(1,928)	(1,303)	(1,486)
Actuarial gain loss	(5,305)	3,999	(2,826)
Exchange rate difference	551	4,971	(1,513)
Benefits paid during the year	3,086	2,411	5,244
Total	(34,899)	(27,099)	(32,199)

(a)Actuarial assumptions

The liability recorded for staff severance indemnity is valued at the actuarial value method, using the following actuarial assumptions:


	As of		As of		As of
	December 31,		December 31,		December 31,
Actuarial assumptions	2022		2021		2020		Annual/Years
Mortality rate	RV - 2014		RV - 2014		RV - 2014
Actual annual interest rate	5.12	%	5.67	%	3.65	%
Voluntary retirement rate:
Men	6.49	%	6.49	%	6.49	%	Annual
Women	6.49	%	6.49	%	6.49	%	Annual
Salary increase	3.00	%	3.00	%	3.00	%	Annual
Retirement age:
Men	65		65		65		Years
Women	60		60		60		Years

(b)Sensitivity analysis of assumptions

As of December 31, 2022, 2021 and 2020, the Company has conducted a sensitivity analysis of the main assumptions of the actuarial calculation, determining the following:


	Effect + 100 basis	Effect - 100 basis
Sensitivity analysis as of December 31, 2022	points	points
	ThUS$	ThUS$
Discount rate	(2,090)	2,352
Employee turnover rate	(274)	307


	Effect + 100 basis	Effect - 100 basis
Sensitivity analysis as of December 31, 2021	points	points
	ThUS$	ThUS$
Discount rate	(1,614)	1,817
Employee turnover rate	(212)	237


	Effect + 100 basis	Effect - 100 basis
Sensitivity analysis as of December 31, 2020	points	points
	ThUS$	ThUS$
Discount rate	(1,985)	2,234
Employee turnover rate	(261)	291

Sensitivity relates to an increase/decrease of 100 basis points.

17.6Executive compensation plan

The Company currently has a compensation plan with the purpose of motivating the Company’s executives and encouraging them to remain with the Company. There are two compensation plans in effect as of December 31, 2022:

Share-based compensation plan

Plan established for the 2017-2022 period for granting payments based on the change in the price of company shares. The benefit program includes a partial payment in shares where a contract is terminated for causes different from resignation and the application of Article 160 of the Labor Code.

(a)

Plan characteristics

This compensation plan is related to the Company’s performance through the SQM Series B share price (Santiago Stock Exchange).

(b)

Plan participants and payment dates

The compensation plan considers 29 Company’s executives, who are entitled to this benefit, provided that they stay with the Company until a given date, recognizing on an accrual basis: i) a 2021 bonus, which will be made effective by paying 146,708 shares distributed between the four quarters of 2021, and ii) a 2022 bonus for 42,032 shares, which will be made effective the first quarter of 2023.

(c)

Compensation

The compensation payable to each executive is calculated by multiplying:

the average price of the series B shares on the Santiago Stock Exchange during the fourth quarter of 2020, in its US dollar equivalent (with a value of US$ 41.93 per share).

ii)

the average price of SQM’s series B shares during the final quarter of 2022, subject to a limit of US$ 54 per share.

iii)

by a number equal to the quantity of shares that have been individually assigned to each executive included in the plan.

The current compensation plan was approved by the Board and includes 188,740 shares. The effects on the statement of results correspond to a charge of ThUS$ 2,251, ThUS$ 5,978 and ThUS$ 875 on the result for the periods ending on December 31, 2022, 2021 and 2020. 188,740 shares were paid out up to December 31, 2022.

II)

Financial target compensation plan

(a)

Plan characteristics

This is a cash compensation plan linked to the Company’s attainment of specific financial targets.

(b)

Plan participants and payment dates

A total of 42 Company executives are entitled to this benefit, provided they remain with the Company until year end of 2025. The payment dates, where relevant, will be during the first quarter of 2026.

This compensation plan was approved by the Board and was first applied on January 1, 2022. Expenditure for the period corresponds to ThUS$8,495 as of December 31, 2022.

Cash and cash equivalents - Restricted Cash Balances (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Cash and Cash Equivalents [Line Items]
Restricted cash	$ 717	$ 622
Isapre Norte Grande Ltda.
Cash and Cash Equivalents [Line Items]
Restricted cash	$ 717	$ 622

Financial instruments - Description of Financial Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Financial instruments [Line Items]
Current financial assets at amortized cost	$ 4,774,445	$ 3,160,446
Current, financial assets at fair value through profit or loss	11,188	13,879
Non-current financial assets at amortized cost	2,114	6,263
Non-current, financial assets at fair value through profit or loss	9,497	9,177
Financial assets at amortized cost	4,776,559	3,166,709
Total, financial assets at fair value through profit or loss	20,685	23,056
Cash and cash equivalent
Financial instruments [Line Items]
Current financial assets at amortized cost	2,655,236	1,515,051
Non-current financial assets at amortized cost	0	0
Financial assets at amortized cost	2,655,236	1,515,051
Trade receivables due from related parties at amortized cost
Financial instruments [Line Items]
Current financial assets at amortized cost	81,622	86,152
Non-current financial assets at amortized cost	0	0
Financial assets at amortized cost	81,622	86,152
Financial assets measured at amortized cost
Financial instruments [Line Items]
Current financial assets at amortized cost	950,167	905,170
Non-current financial assets at amortized cost	23	91
Financial assets at amortized cost	950,190	905,261
Trade and other receivables
Financial instruments [Line Items]
Current financial assets at amortized cost	1,087,420	654,073
Non-current financial assets at amortized cost	2,091	6,172
Financial assets at amortized cost	1,089,511	660,245
Financial instruments for hedging purposes
Financial instruments [Line Items]
Current, financial assets at fair value through profit or loss	7,014	12,625
Non-current, financial assets at fair value through profit or loss	0	245
Total, financial assets at fair value through profit or loss	7,014	12,870
Financial instruments held for trading
Financial instruments [Line Items]
Current, financial assets at fair value through profit or loss	4,174	1,254
Non-current, financial assets at fair value through profit or loss	0	0
Total, financial assets at fair value through profit or loss	4,174	1,254
Financial assets classified as available for sale at fair value through equity
Financial instruments [Line Items]
Current, financial assets at fair value through profit or loss	0	0
Non-current, financial assets at fair value through profit or loss	9,497	8,932
Total, financial assets at fair value through profit or loss	9,497	8,932
Total financial assets
Financial instruments [Line Items]
Current, total financial assets	4,785,633	3,174,325
Non-current, total financial assets	11,611	15,440
Total, total financial assets	$ 4,797,244	$ 3,189,765

Board of Directors, Senior Management and Key management personnel

12 Months Ended

Dec. 31, 2022

Board of Directors, Senior Management and Key management personnel

Board of Directors, Senior Management and Key management personnel

Note 6Board of Directors, Senior Management and Key management personnel

6.1Remuneration of the Board of Directors and Senior Management

(a)	Board of directors

SQM S.A. is managed by a Board of Directors which is composed of 8 directors, who are elected for a three-year period. The Board of Directors was elected during the ordinary shareholders’ meeting held on April 26, 2022, which included the election of 2 independent directors. Subsequent to such election, the following is the integration of the Company's committees:

Directors’ Committee: This committee is comprised by Gina Ocqueteau Tacchini, Antonio Gil Nievas and Ashley Ozols and fulfills the functions established in Article 50 bis of Chilean Law on publicly-held corporations. This committee takes on the role of the audit committee in accordance with the US-based Sarbanes Oxley law.

The Company’s Health, Safety and Environment Committee: This committee is comprised of Gonzalo Guerrero Yamamoto, Patricio Contesse Fica and Dang Qi.

Corporate Governance Committee: This committee is comprised of Hernán Büchi Buc, Patricio Contesse Fica and Antonio Schneider Chaigneau.

During the periods covered by these financial statements, there are no pending receivable and payable balances between the Company, its directors or members of Senior Management, other than those related to remuneration, fee allowances and profit-sharing. Except for a consulting contract between the Company and the Director Gonzalo Guerrero as disclosed in Note 11. There were no other transactions conducted between the Company, its directors or members of Senior Management.

(b)	Board of Directors’ Compensation

Board members’ compensation for 2021, that is from April 23, 2021 to April 26, 2022, was determined by the Annual General Shareholders Meeting held on April 23, 2021. It is as follows:

(i)

The payment of a fixed, gross and monthly amount of UF 800 in favor of the Chairman of the Board of Directors, of UF 700 in favor of the vice-president of the board of directors and of UF 600 in favor of the remaining six directors and regardless of the number of Board of Directors’ Meetings held or not held during the related month.

(ii)	A variable gross amount payable to the Chairman and Vice President of the board of directors equivalent to 0.12% of the net liquid income earned by the Company in the respective business year for each; and

(iii)

A variable gross amount payable to each Company director, excluding the Chairman and Vice President of the board of directors, equivalent to 0.06% of the net liquid income earned in the respective business year.

Compensation of the Board for 2022, that is from April 26, 2022 to April 26, 2023, was determined by the Annual General Shareholders Meeting held on April 26, 2022. It is as follows:

(i)

(ii)	A variable gross amount payable to the Chairman and Vice President of the board of directors equivalent to 0.12% of the net liquid income that the Company effectively obtains during the respective business year for each; and

(iii)

A variable gross amount payable in local currency to each Company director, excluding the Chairman and Vice President of the Company, equivalent to 0.06% of the net liquid income that the Company effectively obtains during the respective business year.

To calculate the variable compensation amount for 2022, net earnings from 2022 will be considered, up to a maximum of 110% of the 2021 net earnings.

These fixed and variable amounts for both periods shall not be challenged and those expressed in percentage terms shall be paid immediately after the respective annual general shareholders meeting approves the financial statements, the annual report, the account inspectors report and the external auditors report for the respective year.

Accordingly, the compensation and profit sharing paid to members of the Directors' Committee and the directors as of December 31, 2022, amounted to ThUS$ 6,711 and as of December 31, 2021 to ThUS$ 3,749, and as of December 31, 2020 to ThUS$ 4,553.

(c)	Directors’ Committee compensation

Compensation for the Board of Directors is the same for both 2021 and 2022, as follows:

(i)	The payment of a fixed, gross and monthly amount of UF 200 in favor of each of the 3 directors who were members of the Directors’ Committee, regardless of the number of meetings of the Directors’ Committee that have or have not been held during the month concerned.

(ii)	The payment in domestic currency and in favor of each of the 3 directors of a variable and gross amount equivalent to 0.02% of total net profit from the respective business year.

To calculate the variable compensation amount for 2022, the net income from 2022 will be considered, up to a maximum of 110% of the 2021 net income.

(d)	Health, Safety and Environmental Matters Committee:

The remuneration of this committee for the 2021 period was composed of the payment of a fixed, gross, monthly amount of UF 100 for each of the 3 directors on the committee regardless of the number of meetings it has held. For the 2022 period, this remuneration remains unchanged.

(e)	Corporate Governance Committee

The remuneration for this committee for the 2021 period was composed of the payment of a fixed, gross, monthly amount of UF 100 for each of the 3 directors on the committees regardless of the number of meetings it has held. For the 2022 period, this remuneration remains unchanged.

(f)	Guarantees constituted in favor of the directors

No guarantees have been constituted in favor of the directors.

(g)	Senior management compensation:

(i)	This includes monthly fixed salary and variable performance bonuses. (See Note 6.2)

(ii)	The Company has an annual bonus plan based on goal achievement and individual contribution to the Company’s results. These incentives are structured as a minimum and maximum number of gross monthly salaries and are paid once a year.

(iii)

In addition, there are retention bonuses for its executives (see Note 17.6)

(h)	Guarantees pledged in favor of the Company’s management

No guarantees have been pledged in favor of the Company’s management.

(i)	Pensions, life insurance, paid leave, shares in earnings, incentives, disability loans, other than those mentioned in the above points.

The Company’s Management and Directors do not receive or have not received any benefit during the years ended December 31, 2022, 2021 and 2020 or compensation for the concept of pensions, life insurance, paid time off, profit sharing, incentives, or benefits due to disability other than those mentioned in the preceding points.

6.2 Key management personnel compensation

As of December 31, 2022, and 2021, the number of the key management personnel is 142 and 127, respectively.


	For the year ended	For the year ended	For the year ended
	December 31,	December 31,	December 31,
Key management personnel compensation	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Key management personnel compensation	29,633	31,560	23,770

Please also see the description of the compensation plan for executives in Note 17.6.

Financial instruments - Payments Made on Various Bonds (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Series Q bonds \| Interest payment
Financial instruments [Line Items]
Repayments of bonds, notes and debentures	$ 4,032	$ 3,990	$ 3,769
Series Q bonds \| CCS Coverage
Financial instruments [Line Items]
Repayments of bonds, notes and debentures	1,877	1,919	1,021
Single Series Fifth Issue Bonds \| Interest payment
Financial instruments [Line Items]
Repayments of bonds, notes and debentures	19,125	19,125	19,125
Single Series Sixth Issue Bonds \| Interest payment
Financial instruments [Line Items]
Repayments of bonds, notes and debentures	17,000	$ 17,000	$ 8,500
Single Series Seventh Issue Bonds \| Interest payment
Financial instruments [Line Items]
Repayments of bonds, notes and debentures	$ 23,819

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Consolidated Statements of Comprehensive Income
Net profit	$ 3,914,284	$ 592,205	$ 168,359
Items of other comprehensive income that will not be reclassified to profit for the year, before taxes
(Losses) gains from measurements of defined benefit plans	(6,350)	4,679	974
Gains (losses) from financial assets measured irrevocably at fair value through other comprehensive income	190	(12,072)	9,784
Total other comprehensive income that will not be reclassified to profit for the year, before taxes	(6,160)	(7,393)	10,758
Items of other comprehensive income that will be reclassified to profit for the year, before taxes
Foreign currency exchange gains from joint ventures and associates	(255)	4,240	14,000
Cash flow hedges - effective portion of changes in fair value	36,079	(66,051)	(461)
Cash flow hedges - reclassified to profit or loss	(9,457)	13,289	(3,245)
Total other comprehensive income that will be reclassified to profit for the year	26,367	(48,522)	10,294
Other items of other comprehensive income, before taxes	20,207	(55,915)	21,052
Income taxes related to items of other comprehensive income that will not be reclassified to profit for the year
Income tax benefit (expense) relating to measurement of defined benefit pension plans through other comprehensive income	1,273	(142)	(145)
Income tax benefit (expense) relating to (losses) gains on financial assets measured irrevocably at fair value through other comprehensive income	(17)	3,818	(2,642)
Total income tax benefit (expense) relating to components of other comprehensive income that will be not reclassified to profit for the year	1,256	3,676	(2,787)
Income taxes relating to components of other comprehensive income that will be reclassified to profit for the year
Income tax benefit (expense) related to (losses) gains on cash flow hedges	(7,172)	14,246	1,001
Total income tax benefit (expense) relating to components of other comprehensive income that will be reclassified to profit for the year	(7,172)	14,246	1,001
Total other comprehensive income	14,291	(37,993)	19,266
Total comprehensive income	3,928,575	554,212	187,625
Comprehensive income attributable to
Comprehensive income attributable to owners of the parent	3,920,781	546,846	183,941
Comprehensive income attributable to non-controlling interest	7,794	7,366	3,684
Total comprehensive income	$ 3,928,575	$ 554,212	$ 187,625

Gains (losses) from operating activities in the statement of income of expenses, included according to their nature - Other Gains (Losses) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Gains (losses) from operating activities in the statement of income of expenses, included according to their nature
Sale of investments in associates	$ 60	$ 0	$ (11,830)
Adjust previous year application method of participation	0	0	(49)
Impairment of interests in associates	1,349	(2,009)	7,235
Sale of investments in joint ventures	0	0	(481)
Others	(1,292)	(629)	(188)
Total	$ 117	$ (2,638)	$ (5,313)

Provisions and other non-financial liabilities - Other Current Non-Financial Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Provisions and other non-financial liabilities
Tax withholdings	$ 46,518	$ 21,546
VAT payable	43,439	26,111
Guarantees received	743	746
Accrual for dividend	7,370	34,184
Monthly tax provisional payments	289,326	23,319
Deferred income	19,341	5,605
Withholdings from employees and salaries payable	7,242	5,587
Accrued vacations	29,642	23,467
Other current liabilities	2,856	1,109
Total	$ 446,477	$ 141,674

Financial instruments - Net Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Financial instruments
Cash and cash equivalents	$ 2,655,236	$ 1,515,051	$ 509,102	$ 588,530
Other current financial assets	961,355	919,049
Other non-current financial hedge assets	22,606	245
Other current financial liabilities	(522,999)	(51,305)
Lease liabilities, current	(12,149)	(7,704)
Other non-current financial liabilities	(2,394,218)	(2,587,732)
Non-current lease liabilities	(49,585)	(46,519)
Total	$ 660,246	$ (258,915)	$ (1,105,095)

Joint Ventures (Tables)

12 Months Ended

Dec. 31, 2022

Joint Ventures

Schedule of investment in joint ventures accounted for under the equity method of accounting


				Share in profit (loss) of joint ventures
	Equity-accounted investees			accounted for using the equity method
	As of	As of	As of	For the year ended	For the year ended	For the year ended
	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,
Joint Venture	2022	2021	2020	2022	2021	2020
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
SQM Vitas Fzco.	20,793	8,682	9,720	8,208	6,304	2,010
SQM Qingdao Star Corp Nutrition Co. Ltd.	—	—	—	—	—	83
Pavoni & C. Spa	7,315	7,030	7,222	470	174	9
Covalent Lithium Pty Ltd.	—	—	—	—	—	—
Sichuan SQM Migao Chemical Fertilizers Co Ltd.	—	—	9,028	—	—	(280)
Total	28,108	15,712	25,970	8,678	6,478	1,822


	Share on other comprehensive income joint ventures			Share on total comprehensive income of joint ventures
	accounted for using the equity method			accounted for using the equity method
	As of	As of	As of	For the year ended	For the year ended	For the year ended
	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,
Joint Venture	2022	2021	2020	2022	2021	2020
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
Coromandel SQM India (*)	—	—	—	—	—	—
SQM Vitas Fzco.	674	429	(1,469)	8,882	6,733	541
SQM Qingdao Star Corp Nutrition Co. Ltd. (*)	—	—	—	—	—	83
SQM Vitas B.V.	—	—	—	—	—	—
Pavoni & C. Spa	(210)	(317)	349	260	(143)	358
Covalent Lithium Pty Ltd.	90	37	16	90	37	16
Sichuan SQM Migao Chemical Fertilizers Co Ltd.	—	—	—	—	—	(280)
Total	554	149	(1,104)	9,232	6,627	718

(*)	These investments were disposed of in 2021

(*)	See more details in Note 8.4 (a).

The amounts described in the following box represent numbers used in the consolidation of the company:

Equity-accounted investees

Share in profit (loss) of joint ventures

accounted for using the equity method

As of

For the year ended

December 31,

Joint Venture

2022

2021

2020

2022

2021

2020

ThUS$

SQM Vitas Brasil Agroindustria (1)

14,667

—

3,511

5,834

4,582

1,018

SQM Vitas Perú S.A.C. (1)

1,340

4,681

1,659

2,293

1,645

660

Total

16,007

4,681

5,170

8,127

6,227

1,678

Share on other comprehensive income of

Share on total comprehensive income of

joint ventures accounted for using

the equity method, for the period ended

As of

For the year ended

December 31,

Joint Venture

2022

2021

2020

2022

2021

2020

ThUS$

SQM Vitas Brasil Agroindustria (1)

551

(429)

(1,469)

6,385

4,153

(451)

SQM Vitas Perú S.A.C. (1)

—

2,293

1,645

660

Total

551

(429)

(1,469)

8,678

5,798

209

Schedule of dividends received from joint ventures


						Dividends received for the year ending
				Share of		As of	As of	As of
	Description of the nature		Country of	interest in		December 31,	December 31,	December 31,
Joint venture	of the relationship	Domicile	incorporation	ownership		2022	2021	2020
						ThUS$	ThUS$	ThUS$
Sichuan SQM Migao Chemical Fertilizers Co Ltd.	Production and distribution of soluble fertilizers.	Huangjing Road, Dawan Town, Qingbaijiang Dristrict, Chengdu Municipality, Sichuan Province	China	50	%	—	—	—
SQM Vitas Fzco.	Production and commercialization of specialty plant, animal nutrition and industrial hygiene.	Jebel ALI Free Zone P.O. Box 18222, Dubai	United Arab Emirates	50	%	—	—	—
SQM Qingdao Star Corp Nutrition Co. Ltd.	Production and distribution of nutrient plant solutions with specialties NPK soluble.	Longquan Town, Jimo City, Qingdao Municipality, Shangdong Province	China	50	%	—	—	2,223
Pavoni & C. Spa	Production of specialty fertilizers and others for distribution in Italy and other countries.	Corso Italia 172, 95129 Catania -CT, Sicilia	Italy	50	%	—	—	—
SQM Vitas Brasil Agroindustria (1)	Production and trading of specialty vegetable and animal nutrition and industrial hygiene.	Via Cndeias, Km. 01 Sem Numero, Lote 4, Bairro Cia Norte, Candeias, Bahia.	Brazil	49.99	%	—	—	—
SQM Vitas Perú S.A.C. (1)	Production and trading of specialty vegetable and animal nutrition and industrial hygiene	Av. Juan de Arona 187, Torre B, Oficina 301-II, San Isidro, Lima	Peru	50	%	—	—	—
Covalent Lithium Pty Ltd.	Development and operation of the Mt. Holland Lithium project, which will include the construction of a lithium extraction and refining mine.	L18, 109 St Georges Tce Perth WA 6000 \|PO Box Z5200 St Georges Tce Perth WA 6831	Australia	50	%	—	—	—
Total						—	—	2,223

(*)	The percentages presented correspond to the ownership used in the consolidation of the company.

Schedule of assets, liabilities, revenue and expenses from joint ventures


	As of December 31, 2022				For the year ended December 31, 2022
	Assets		Liabilities				Other
							comprehensive	Comprehensive
Joint Venture	Current	Non-current	Current	Non-current	Revenue	Net income (loss)	income	income
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
SQM Vitas Fzco. (*)	9,618	—	49	—	—	165	—	165
SQM Vitas Brasil Agroindustria (*)	73,045	6,111	45,894	—	162,026	11,670	602	12,272
SQM Vitas Perú S.A.C. (*)	59,196	7,285	49,596	117	61,387	4,586	—	4,586
Pavoni & C. Spa (*)	11,516	6,358	8,853	802	18,066	939	(344)	595
Covalent Lithium Pty Ltd.	2,077	3,088	7,062	3,017	—	(2,648)	—	(2,648)
Total	155,452	22,842	111,454	3,936	241,479	14,712	258	14,970


	As of December 31, 2021				For the year ended December 31, 2021
	Assets		Liabilities				Other
							comprehensive	Comprehensive
Joint Venture	Current	Non-current	Current	Non-current	Revenue	Net income (loss)	income	income
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
SQM Vitas Fzco.	9,606	—	215	—	—	159	—	159
SQM Vitas Brasil Agroindustria	73,500	4,846	68,794	—	103,335	9,165	(858)	8,307
SQM Vitas Perú S.A.C.	28,610	7,347	24,473	828	48,128	3,289	—	3,289
Pavoni & C. Spa	12,885	6,714	11,226	725	19,599	347	(634)	(287)
Covalent Lithium Pty Ltd.	3,904	2,636	7,498	1,489	—	(864)	74	(790)
Total	128,505	21,543	112,206	3,042	171,062	12,096	(1,418)	10,678


	As of December 31, 2020				For the year ended December 31, 2020
	Assets		Liabilities				Other
							comprehensive	Comprehensive
Joint Venture	Current	Non-current	Current	Non-current	Revenue	Net income (loss)	income	income
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
Sichuan SQM Migao Chemical Fertilizers Co Ltd.	29,507	4,412	14,156	—	9	(562)	—	(562)
SQM Vitas Fzco.	(496)	20,431	496	—	—	4,019	—	4,019
SQM Vitas Brasil Agroindustria	40,064	5,527	33,410	—	78,960	2,036	(2,938)	(902)
SQM Vitas Perú S.A.C.	34,548	7,928	33,145	1,080	37,591	1,319	—	1,319
Pavoni & C. Spa	10,645	7,493	9,270	836	15,958	16	698	714
Covalent Lithium Pty Ltd.	1,418	2,131	2,823	910	—	(232)	33	(199)
Total	115,686	47,922	93,300	2,826	132,518	6,596	(2,207)	4,389

Schedule of other joint venture information

8.3Other joint venture disclosures


	Cash and cash equivalents		Other current financial liabilities		Other non-current financial liabilities
	As of	As of	As of	As of	As of	As of
	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,
Joint Venture	2022	2021	2022	2021	2022	2021
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
SQM Vitas Fzco.	3,866	4,115	9,753	—	—	—
SQM Vitas Brasil Agroindustria	3,820	4,132	82	10,416	—	—
SQM Vitas Perú S.A.C.	2,208	380	4,951	238	117	289
Pavoni & C. Spa	1,088	787	494	7,561	—	—
Covalent Lithium Pty Ltd.	1,931	3,858	—	980	—	—
Total	12,913	13,272	15,280	19,195	117	289


	Depreciation and amortization expense		Interest expense		Income tax benefit (expense)
	for the year ending		for the year ending		for the year ending
	As of	As of	As of	As of	As of	As of
	December 31,	December 31,	December 31,	December 31,	December 31,	December 31,
Joint Venture	2022	2021	2022	2021	2022	2021
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
SQM Vitas Fzco.	—	—	(1)	(1)	—	—
SQM Vitas Brasil Agroindustria	(331)	(278)	(333)	(367)	(3,164)	(1,985)
SQM Vitas Perú S.A.C.	(360)	(354)	(298)	(311)	(2,370)	(1,692)
Pavoni & C. Spa	(183)	(245)	(347)	(459)	(459)	(173)
Covalent Lithium Pty Ltd.	(176)	(167)	(40)	(55)	1,094	343
Total	(1,050)	(1,044)	(1,019)	(1,193)	(4,899)	(3,507)

Equity-accounted investees - Assets, Liabilities, Revenue and Expenses of Associates (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Equity-accounted investees [Line Items]
Current assets	$ 6,991,509	$ 4,586,095
Non-current assets	3,827,592	2,594,106
Current liabilities	3,051,547	991,709
Non-current liabilities	2,835,553	2,972,521
Revenue	10,710,578	2,862,315	$ 1,817,191
Net income (loss)	3,914,284	592,205	168,359
Other comprehensive income	14,291	(37,993)	19,266
Comprehensive income	3,928,575	554,212	187,625
Associates
Equity-accounted investees [Line Items]
Current assets	64,197	47,698	75,549
Non-current assets	17,964	16,337	149,940
Current liabilities	28,881	15,163	20,002
Non-current liabilities	2	0	101
Revenue	127,542	95,784	91,511
Net income (loss)	23,180	9,423	2,876
Other comprehensive income	(21)	(34)	2,222
Comprehensive income	23,159	9,389	5,098
Abu Dhabi Fertilizer Industries WWL
Equity-accounted investees [Line Items]
Current assets			29,313
Non-current assets			8,586
Current liabilities			6,706
Non-current liabilities			101
Revenue			6,641
Net income (loss)			(420)
Other comprehensive income			0
Comprehensive income			(420)
Ajay North America
Equity-accounted investees [Line Items]
Current assets	30,455	21,771	18,513
Non-current assets	15,972	15,096	15,749
Current liabilities	10,395	4,421	4,737
Non-current liabilities	2	0	0
Revenue	63,482	47,375	42,920
Net income (loss)	10,919	5,718	4,471
Other comprehensive income	0	0	0
Comprehensive income	10,919	5,718	4,471
Ajay Europe SARL
Equity-accounted investees [Line Items]
Current assets	33,742	25,927	22,032
Non-current assets	1,992	1,241	1,493
Current liabilities	18,486	10,742	7,773
Non-current liabilities	0	0	0
Revenue	64,060	48,409	41,950
Net income (loss)	12,261	3,705	2,058
Other comprehensive income	(21)	(34)	1,736
Comprehensive income	$ 12,240	$ 3,671	3,794
Kore Potash PLC
Equity-accounted investees [Line Items]
Current assets			5,691
Non-current assets			124,112
Current liabilities			786
Non-current liabilities			0
Revenue			0
Net income (loss)			(3,233)
Other comprehensive income			486
Comprehensive income			$ (2,747)

Financial instruments - Narrative (Details)	Sep. 10, 2021 USD ($)	Apr. 03, 2021 USD ($)	Jan. 22, 2020 USD ($)	May 07, 2019 USD ($)	Nov. 08, 2018 USD ($)	Oct. 31, 2018 CLF	Mar. 31, 2018 CLF	Oct. 23, 2014 USD ($)	Apr. 04, 2012 USD ($)	Apr. 21, 2010 USD ($)	Jan. 13, 2009 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2021 CLF	Jan. 15, 2018	Apr. 04, 2012 CLF	Jan. 13, 2009 CLF
Financial instruments [Line Items]
Notional amounts												$ 345,949,000	$ 43,396,000
Outstanding purchase commitments												191,319,000	166,209,000
Single series bond One \| Unsecured obligations
Financial instruments [Line Items]
Notional amounts										$ 250,000,000
Effective rate										5.50%
Maturity date										10
Single series bond Three
Financial instruments [Line Items]
Notional amounts												$ 302,658,000	$ 2,658,000
Effective rate												0.56%	0.74%	0.74%
Single series bond Three \| Unsecured obligations
Financial instruments [Line Items]
Notional amounts		$ 300,000,000										$ 300,000,000
Effective rate		3.625%
Maturity date		10
Single series bond Two
Financial instruments [Line Items]
Notional amounts												$ 4,648,000	$ 4,648,000
Effective rate												1.17%	1.56%	1.56%
Single series bond Two \| Unsecured obligations
Financial instruments [Line Items]
Notional amounts												$ 250,000,000
Series H bonds
Financial instruments [Line Items]
Notional amounts												$ 17,566,000	$ 16,026,000
Effective rate												1.23%	1.75%	1.75%
Series H bonds \| Unsecured obligations
Financial instruments [Line Items]
Notional amounts											$ 139,216,000	$ 13,117,000	$ 14,870,000	CLF 363,636.36			CLF 4,000,000
Effective rate											4.90%						4.90%
Maturity date											21
Series Q bonds
Financial instruments [Line Items]
Notional amounts												$ 351,000	$ 314,000
Effective rate						3.45%						2.63%	2.72%	2.72%
Proceeds from disposal or maturity of available-for-sale financial assets					$ 83,567,623,842
Bond authorized to issue \| CLF						CLF 3,000,000
Series P bonds
Financial instruments [Line Items]
Notional amounts												$ 1,830,000	$ 1,636,000
Effective rate												1.72%	2.04%	2.04%
Series P bonds \| Unsecured obligations
Financial instruments [Line Items]
Notional amounts \| CLF							CLF 3,000,000
Effective rate															3.25%
Maturity date							P10Y
Single Series Bond Six
Financial instruments [Line Items]
Notional amounts												$ 7,508,000	$ 7,508,000
Effective rate												3.79%	4.00%	4.00%
Single Series Bond Six \| Unsecured obligations
Financial instruments [Line Items]
Notional amounts			$ 400,000,000
Effective rate			4.25%
Maturity date			2050
Single series bond Five
Financial instruments [Line Items]
Notional amounts												$ 2,869,000	$ 2,869,000
Effective rate												3.01%	3.23%	3.23%
Single series bond Five \| Unsecured obligations
Financial instruments [Line Items]
Notional amounts				$ 450,000,000
Effective rate				4.25%
Maturity date				2029
Series O bonds
Financial instruments [Line Items]
Notional amounts												$ 965,000	$ 863,000
Effective rate												1.89%	2.06%	2.06%
Series O bonds \| Unsecured obligations
Financial instruments [Line Items]
Notional amounts									$ 69,901,000							CLF 1,500,000
Effective rate									3.80%							3.80%
Maturity date									21
Single series bond Four \| Unsecured obligations
Financial instruments [Line Items]
Notional amounts								$ 250,000,000
Effective rate								4.375%
Maturity date								2025
Single Series Seventh Issue Bonds
Financial instruments [Line Items]
Notional amounts												$ 7,554,000	$ 6,874,000
Effective rate												3.44%	3.62%	3.62%
Single Series Seventh Issue Bonds \| Unsecured obligations
Financial instruments [Line Items]
Notional amounts	$ 700,000,000
Effective rate	3.50%
Maturity date	2051
Cross currency swap contracts \| Series H bonds \| Unsecured obligations
Financial instruments [Line Items]
Notional amounts												$ 993,000	$ 760,000

Provisions and other non-financial liabilities

12 Months Ended

Dec. 31, 2022

Provisions and other non-financial liabilities

Provisions and other non-financial liabilities

Note 18 Provisions and other non-financial liabilities

18.1Types of provisions


	As of December 31, 2022			As of December 31, 2021
Types of provisions	Current	Non-current	Total	Current	Non-current	Total
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
Provision for legal complaints (1)	52,106	1,603	53,709	48,518	1,223	49,741
Provision for dismantling, restoration and rehabilitation cost (2)	—	53,995	53,995	—	58,592	58,592
Other provisions (3)	1,251,040	2,455	1,253,495	269,148	1,223	270,371
Total	1,303,146	58,053	1,361,199	317,666	61,038	378,704

(1)	These provisions correspond to legal processes that are pending resolution or that have not yet been disbursed, these provisions are mainly related to litigation involving the subsidiaries located in Chile, Brazil and the United States (see note 20.1).

(2)

(3)	See Note 18.2.

18.2 Description of other provisions


	As of	As of
	December 31,	December 31,
Current provisions, other short-term provisions	2022	2021
	ThUS$	ThUS$
Rent under Lease contract (1)	1,189,326	260,889
Provision for additional tax related to foreign loans	1,085	1,027
End of agreement bonus	35,819	2,792
Directors’ per diem allowance	4,250	3,938
Miscellaneous provisions	20,560	502
Total	1,251,040	269,148

(1)

The agreement signed in January 2018, includes important amendments to the lease agreement and project agreement signed between Corfo and SQM in 1993. The main modifications became effective on April 10, 2018 and requires an increase in the lease payments by increasing the lease rates associated with the sale of the different products produced in the Salar de Atacama, including lithium carbonate, lithium hydroxide and potassium chloride. This agreement has been amended since it was signed, and it is reasonable to expect that it will continue to be amended as mutually agreed by the parties.

Additionally, SQM Salar commits to contribute to research and development efforts, as well as to the communities in close proximity to the Salar de Atacama and provide a percentage of total annual sales of SQM Salar to regional development.

SQM Salar commits to contribute between US$10.8 million and US$18.9 million per year to research and development efforts, between US$10 to US$15 million per year to the communities in close proximity to the Salar de Atacama, and 1.7% of total annual sales of SQM Salar to regional development.

18.3 Changes in provisions


		Provision for
		dismantling,
Description of items that gave rise to variations		restoration and
as of December 31, 2022	Legal complaints	rehabilitation cost	Other provisions	Total
	ThUS$	ThUS$	ThUS$	ThUS$
Total provisions, initial balance	49,741	58,592	270,371	378,704
Changes
Additional provisions	3,981	7,085	3,045,758	3,056,824
Provision used	—	—	(2,060,321)	(2,060,321)
Increase(decrease) in foreign currency exchange	(1)	(35)	4	(32)
Others	(12)	(11,647)	(2,317)	(13,976)
Total Increase (decreases)	3,968	(4,597)	983,124	982,495
Total	53,709	53,995	1,253,495	1,361,199


		Provision for
		dismantling,
Description of items that gave rise to variations		restoration and
as of December 31, 2021	Legal complaints	rehabilitation cost	Other provisions	Total
	ThUS$	ThUS$	ThUS$	ThUS$
Total provisions, initial balance	10,165	61,265	95,353	166,783
Changes
Additional provisions	48,012	7,302	232,254	287,568
Provision used	(8,399)	—	(56,959)	(65,358)
Increase(decrease) in foreign currency exchange	(37)	—	(35)	(72)
Others	—	(9,975)	(242)	(10,217)
Total Increase (decreases)	39,576	(2,673)	175,018	211,921
Total	49,741	58,592	270,371	378,704


		Provision for
		dismantling,
Description of items that gave rise to variations		restoration and
as of December 31, 2020	Legal complaints	rehabilitation cost	Other provisions	Total
	ThUS$	ThUS$	ThUS$	ThUS$
Total provisions, initial balance	14,924	33,238	97,093	145,255
Changes
Additional provisions	62,922	30,974	60,685	154,581
Provision used	(67,685)	—	(59,939)	(127,624)
Increase(decrease) in foreign currency exchange	4	—	(2,486)	(2,482)
Others	—	(2,947)	—	(2,947)
Total Increase (decreases)	(4,759)	28,027	(1,740)	21,528
Total	10,165	61,265	95,353	166,783

18.4 Other non-financial liabilities, Current


	As of	As of
	December 31,	December 31,
Description of other liabilities	2022	2021
	ThUS$	ThUS$
Tax withholdings	46,518	21,546
VAT payable	43,439	26,111
Guarantees received	743	746
Accrual for dividend	7,370	34,184
Monthly tax provisional payments	289,326	23,319
Deferred income	19,341	5,605
Withholdings from employees and salaries payable	7,242	5,587
Accrued vacations (1)	29,642	23,467
Other current liabilities	2,856	1,109
Total	446,477	141,674

Intangible assets and goodwill (Tables)

12 Months Ended

Dec. 31, 2022

Intangible assets and goodwill.

Schedule of intangible assets and goodwill


As of December 31, 2022
Intangible assets and goodwill	Useful life	Net Value
		ThUS$
IT programs	Finite	3,249
Mining rights	Finite	140,873
Water rights and rights of way	Indefinite	4,909
Water rights	Finite	11,369
Intellectual property	Finite	5,850
Other intangible assets	Finite	86
Intangible assets other than goodwill		166,336
Goodwill	Indefinite	967
Total Intangible Asset		167,303


As of December 31, 2021
Intangible assets and goodwill	Useful life	Net Value
		ThUS$
IT programs	Finite	3,447
Mining rights	Finite	149,532
Water rights and rights of way	Indefinite	4,909
Water rights	Finite	15,158
Intellectual property	Finite	6,481
Other intangible assets	Finite	131
Intangible assets other than goodwill		179,658
Goodwill	Indefinite	34,596
Total Intangible Asset		214,254

Schedule of intangible assets

a)	Movements in identifiable intangible assets as of December 31, 2022:


			Water rights,		Customer-
Movements in identifiable intangible assets		Mining rights,	and rights of	Water rights	related	Intellectual	Other intangible
	IT programs	Finite	way, Indefinite	Finite	intangible assets	property	assets	Goodwill	Total
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
As of January 1, 2022	3,447	149,532	4,909	15,158	—	6,481	131	34,596	214,254
Additions	349	1,141	—	—	—	—	14	—	1,504
Amortization for the year	(1,039)	(8,482)	—	(3,789)	—	(476)	(59)	—	(13,845)
Impairment losses recognized in profit or loss for the year (2)	—	(1,228)	—	—	—	—	—	(33,629)	(34,857)
Other increases / decreases for foreign currency exchange rates	(4)	—	—	—	—	(155)	—	—	(159)
Decreases through sale	—	—	—	—	—	—	—	—	—
Transferred from available for sale	—	—	—	—	—	—	—	—	—
Other increases (decreases)	496	(90)	—	—	—	—	—	—	406
Subtotal	(198)	(8,659)	—	(3,789)	—	(631)	(45)	(33,629)	(46,951)
As of December 31,2022	3,249	140,873	4,909	11,369	—	5,850	86	967	167,303
Historical cost	36,457	162,716	7,420	18,000	1,778	7,215	2,291	4,501	240,378
Accumulated amortization	(33,208)	(21,843)	(2,511)	(6,631)	(1,778)	(1,365)	(2,205)	(3,534)	(73,075)
As of January 1, 2021	3,447	149,532	4,909	15,158	—	6,481	131	34,596	214,254
Additions	296	344	—	—	—	—	9	—	649
Amortization for the year	(1,716)	(2,863)	—	(2,842)	—	(889)	(64)	—	(8,374)
Impairment losses recognized in profit or loss for the year (1)	—	(48)	(430)	—	—	—	—	—	(478)
Other increases / decreases for foreign currency exchange rates	(17)	2,283	(4)	—	—	—	(6)	—	2,256
Decreases through sale	—	—	—	—	—	—	—	—	—
Transferred from available for sale	—	16	—	—	—	—	—	—	16
Other increases (decreases)	58	(246)	—	—	—	7,370	—	(7,370)	(188)
Subtotal	(1,379)	(514)	(434)	(2,842)	—	6,481	(61)	(7,370)	(6,119)
As of December 31,2021	3,447	149,532	4,909	15,158	—	6,481	131	34,596	214,254
Historical cost	35,616	162,893	7,420	18,000	1,778	7,370	2,277	38,130	273,484
Accumulated amortization	(32,169)	(13,361)	(2,511)	(2,842)	(1,778)	(889)	(2,146)	(3,534)	(59,230)

(1)	See Note 21.5

(2)

A determination made in the fourth quarter of 2022 led to the identification of assets that are not in the company’s long-term business plan. Therefore, the Company recognized impairment for the value of certain intangible assets and associated goodwill in an amount of ThUS$34,149, which are related to the Iodine and Derivatives Cash Generating Unit.

Schedule of goodwill

(b)	Movements in identifiable goodwill as of December 31, 2022 and 2021:


Accumulated impairment	Goodwill at the beginning	Additional	Impairment losses recognized in	Total increase	Ending balance as of december 31, 2022
Movements in identifiable goodwill	of period January 1, 2022	recognition	profit or loss for the year (-)	(decrease)
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
SQM S.A.	22,255	—	(22,255)	(22,255)	—
SQM Iberian S.A.	148	—	—	—	148
SQM Investment Corporation	86	—	—	—	86
Soquimich European Holding B.V.	11,383	—	(11,374)	(11,374)	9
SQM Potasio S.A.	724	—	—	—	724
Ending balance as of December 31,2022	34,596	—	(33,629)	(33,629)	967


Accumulated impairment	Goodwill at the beginning	Additional	Impairment losses recognized in	Total increase	Ending balance as of december 31, 2021
Movements in identifiable goodwill	of period January 1, 2021	recognition	profit or loss for the year (-)	(decrease)
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
SQM S.A.	22,255	—	—	—	22,255
SQM Iberian S.A.	148	—	—	—	148
SQM Investment Corporation	86	—	—	—	86
Soquimich European Holding B.V.	11,383	—	—	—	11,383
SQM Holland B.V. (*)	7,370	—	—	(7,370)	—
SQM Potasio S.A.	724	—	—	—	724
Ending balance as of December 31,2021	41,966	—	—	(7,370)	34,596

(*) The measurement of assets and liabilities related to the acquisition of WNSPK (see Note 7) was completed in 2021 and as a result ThUS$ 7,370 were identified as intellectual property and reclassified from goodwill as a consequence.

Separate information on the main office, parent entity and joint action agreements (Tables)

12 Months Ended

Dec. 31, 2022

Separate information on the main office, parent entity and joint action agreements

Schedule of Parent's stand-alone assets and liabilities

5.1	Parent’s stand-alone assets and liabilities


	As of	As of
	December 31,	December 31,
Parent’s stand-alone assets and liabilities	2022	2021
	ThUS$	ThUS$
Assets	8,430,376	5,988,757
Liabilities	(3,533,744)	(2,807,237)
Equity	4,896,632	3,181,520

Other current and non-current non-financial assets - Reimbursements for Exploration and Evaluation (Details) - Metallic/Non-Metallic - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Detailed Information About Reimbursements For Exploration And Evaluation [Line Items]
Reimbursements exploration and evaluation	$ 36,327	$ 18,154
Chile
Disclosure Of Detailed Information About Reimbursements For Exploration And Evaluation [Line Items]
Reimbursements exploration and evaluation	$ 36,327	$ 18,154

Effect of fluctuations in foreign currency exchange rates - Foreign Currency Exchange Differences Recognized in Profit or Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Effect of fluctuations in foreign currency exchange rates [Abstract]
Gains (losses) on exchange differences on translation, before tax	$ (255)	$ 4,240	$ 14,000

Financial instruments - Classes of Interest-Bearing Loans, Non-Current (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Financial instruments [Line Items]
Notional amounts	$ 345,949	$ 43,396
Borrowing costs	$ (2,360)	$ (2,802)
Scotiabank Cayman
Financial instruments [Line Items]
Effective rate	2.33%	2.05%
Nominal rate	3.19%	1.36%
Scotiabank Sud Americano
Financial instruments [Line Items]
Effective rate	5.10%
Nominal rate	6.08%
Unsecured obligations
Financial instruments [Line Items]
Notional amounts	$ 200,000	$ 70,000
Non-current maturities	200,000	70,000
Borrowing costs	(2,478)	(387)
Total	197,522	$ 69,613
Unsecured obligations \| Scotiabank Cayman
Financial instruments [Line Items]
Company		SQM S.A.
Financial institution		Scotiabank Cayman
Notional amounts		$ 70,000
Non-current maturities		70,000
Borrowing costs		(387)
Total		69,613
Unsecured obligations \| Scotiabank Sud Americano
Financial instruments [Line Items]
Notional amounts	200,000
Non-current maturities	200,000
Borrowing costs	(2,478)
Total	197,522
Unsecured obligations \| Between 1 year to 2 years
Financial instruments [Line Items]
Notional amounts		0
Non-current maturities		0
Unsecured obligations \| Between 1 year to 2 years \| Scotiabank Cayman
Financial instruments [Line Items]
Notional amounts		0
Non-current maturities		0
Unsecured obligations \| Between 2 years to 3 years
Financial instruments [Line Items]
Notional amounts	200,000	70,000
Non-current maturities	200,000	70,000
Unsecured obligations \| Between 2 years to 3 years \| Scotiabank Cayman
Financial instruments [Line Items]
Notional amounts	0	70,000
Non-current maturities	0	70,000
Unsecured obligations \| Between 2 years to 3 years \| Scotiabank Sud Americano
Financial instruments [Line Items]
Notional amounts	200,000
Non-current maturities	200,000
Unsecured obligations \| Over 3 year to 4 years
Financial instruments [Line Items]
Notional amounts	0	0
Non-current maturities	0	0
Unsecured obligations \| Over 3 year to 4 years \| Scotiabank Cayman
Financial instruments [Line Items]
Notional amounts	0	0
Non-current maturities	0	$ 0
Unsecured obligations \| Over 3 year to 4 years \| Scotiabank Sud Americano
Financial instruments [Line Items]
Notional amounts	0
Non-current maturities	$ 0

Disclosures on the effects of fluctuations in foreign currency exchange rates - Foreign Currency Exchange Rate Changes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosures on the effects of fluctuations in foreign currency exchange rates
Foreign currency loss	$ (25,400)	$ (17,241)	$ (4,423)
Foreign currency translation reserve	(255)	4,240	14,000
Total	$ (25,655)	$ (13,001)	$ 9,577

Board of Directors, Senior Management and Key management personnel (Tables)

12 Months Ended

Dec. 31, 2022

Board of Directors, Senior Management and Key management personnel

Schedule of information about key management personnel

As of December 31, 2022, and 2021, the number of the key management personnel is 142 and 127, respectively.


	For the year ended	For the year ended	For the year ended
	December 31,	December 31,	December 31,
Key management personnel compensation	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Key management personnel compensation	29,633	31,560	23,770

Disclosures on the effects of fluctuations in foreign currency exchange rates

12 Months Ended

Dec. 31, 2022

Disclosures on the effects of fluctuations in foreign currency exchange rates

Disclosures on the effects of fluctuations in foreign currency exchange rates

Note 24 Disclosures on the effects of fluctuations in foreign currency exchange rates

a)Assets held in foreign currency subject to fluctuations in exchange rates are detailed as follows:


		As of	As of
		December 31,	December 31,
Class of Asset	Currency	2022	2021
		ThUS$	ThUS$
Cash and cash equivalents	USD	1,637,507	1,377,983
Cash and cash equivalents	CLP	806,106	4,416
Cash and cash equivalents	CNY	92,394	30,102
Cash and cash equivalents	EUR	14,963	14,374
Cash and cash equivalents	GBP	1	1
Cash and cash equivalents	AUD	89,602	72,107
Cash and cash equivalents	INR	—	—
Cash and cash equivalents	MXN	1,406	1,827
Cash and cash equivalents	PEN	—	6
Cash and cash equivalents	AED	2	1
Cash and cash equivalents	JPY	686	1,182
Cash and cash equivalents	ZAR	11,647	13,048
Cash and cash equivalents	KRW	918	—
Cash and cash equivalents	IDR	3	3
Cash and cash equivalents	PLN	1	1
Subtotal cash and cash equivalents		2,655,236	1,515,051
Other current financial assets	USD	722,165	668,360
Other current financial assets	BRL	39	48
Other current financial assets	CLP	239,151	250,641
Subtotal other current financial assets		961,355	919,049
Other current non-financial assets	USD	35,237	18,486
Other current non-financial assets	AUD	9,516	11,066
Other current non-financial assets	CLF	259	150
Other current non-financial assets	CLP	85,608	27,536
Other current non-financial assets	CNY	56,404	5,213
Other current non-financial assets	EUR	1,046	1,050
Other current non-financial assets	COP	217	153
Other current non-financial assets	MXN	4,685	6,092
Other current non-financial assets	THB	2	8
Other current non-financial assets	JPY	158	73
Other current non-financial assets	ZAR	3,203	42
Other current non-financial assets	SEK	—	1
Subtotal other non-financial current assets		196,335	69,870
Trade and other receivables	USD	788,596	400,753
Trade and other receivables	PEN	—	—
Trade and other receivables	BRL	22	21
Trade and other receivables	CLF	550	459
Trade and other receivables	CLP	58,412	43,496
Trade and other receivables	CNY	161,492	108,822
Trade and other receivables	EUR	36,318	35,514
Trade and other receivables	GBP	76	46
Trade and other receivables	MXN	889	237
Trade and other receivables	AED	3,116	1,888
Trade and other receivables	JPY	129	36,000
Trade and other receivables	AUD	1,708	1,214
Trade and other receivables	ZAR	33,361	23,568
Trade and other receivables	COP	2,751	2,055
Subtotal trade and other receivables		1,087,420	654,073
Receivables from related parties	USD	79,331	83,088
Receivables from related parties	EUR	1,250	1,150
Receivables from related parties	AUD	1,041	1,914
Subtotal receivables from related parties		81,622	86,152


		As of	As of
		December 31,	December 31,
Class of assets	Currency	2022	2021
		ThUS$	ThUS$
Current inventories	USD	1,784,281	1,183,776
Subtotal Current Inventories		1,784,281	1,183,776
Current tax assets	USD	127,068	154,709
Current tax assets	BRL	1	1
Current tax assets	CLP	2,125	1,727
Current tax assets	EUR	14,042	171
Current tax assets	MXN	59	31
Current tax assets	PEN	—	3
Current tax assets	JPY	77,397	3
Current tax assets	ZAR	28	13
Current tax assets	COP	1,481	887
Current tax assets	KRW	2,713	—
Subtotal current tax assets		224,914	157,545
Non-current assets or groups of assets classified as held for sale	USD	346	582
Subtotal Non-current assets or groups of assets classified as held for sale		346	582
Total current assets		6,991,509	4,586,098
Other non-current financial assets	USD	32,126	9,268
Subtotal Other non-current financial assets		32,126	9,268
Other non-current non-financial assets	USD	52,396	33,487
Subtotal Other non-current non-financial assets		52,396	33,487
Other receivables, non-current	USD	713	5,239
Other receivables, non-current	CLF	77	86
Other receivables, non-current	MXN	88	26
Other receivables, non-current	CLP	1,213	821
Subtotal Other receivables, non-current		2,091	6,172
Investments classified using the equity method of accounting	USD	22,959	20,526
Investments classified using the equity method of accounting	AED	19,597	7,879
Investments classified using the equity method of accounting	EUR	11,830	11,419
Subtotal Investments classified using the equity method of accounting		54,386	39,824
Intangible assets other than goodwill	USD	166,336	179,658
Subtotal intangible assets other than goodwill		166,336	179,658
Purchases goodwill, gross	USD	967	34,596
Subtotal Purchases goodwill, gross		967	34,596
Property, plant and equipment	USD	2,726,838	2,012,225
Subtotal property, plant and equipment		2,726,838	2,012,225
Right-of-use assets	USD	60,867	52,608
Subtotal Right-of-use assets		60,867	52,608
Non-current tax assets	USD	127,114	90,364
Subtotal non-current tax assets		127,114	90,364
Deferred tax assets	USD	604,471	135,904
Subtotal Deferred tax assets		604,471	135,904
Total non-current assets		3,827,592	2,594,106
Total assets		10,819,101	7,180,204


		As of December 31, 2022			As of December 31, 2021
			More than 90			More than 90
Class of liability	Currency	Up to 90 days	days to 1 year	Total	Up to 90 days	days to 1 year	Total
		ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
Current liabilities
Other current financial liabilities	USD	120,652	381,922	502,574	28,519	4,234	32,753
Other current financial liabilities	CLF	20,094	331	20,425	18,259	293	18,552
Subtotal other current financial liabilities		140,746	382,253	522,999	46,778	4,527	51,305
Lease liabilities, current	USD	—	6,549	6,549	—	4,625	4,625
Lease liabilities, current	CLF	—	2,331	2,331	—	2,263	2,263
Lease liabilities, current	MXN	—	436	436	—	434	434
Lease liabilities, current	EUR	—	387	387	—	382	382
Lease liabilities, current	AUD	—	2,446	2,446	—	—	—
Subtotal Lease liabilities, current		—	12,149	12,149	—	7,704	7,704
Trade and other payables	USD	121,260	110	121,370	98,918	76	98,994
Trade and other payables	CLF	2,618	—	2,618	1,330	—	1,330
Trade and other payables	BRL	10	—	10	5	—	5
Trade and other payables	THB	4	—	4	2	—	2
Trade and other payables	CLP	162,470	—	162,470	115,504	—	115,504
Trade and other payables	CNY	4,757	—	4,757	3,198	—	3,198
Trade and other payables	EUR	56,118	564	56,682	41,242	984	42,226
Trade and other payables	GBP	18	—	18	18	—	18
Trade and other payables	INR	—	—	—	1	—	1
Trade and other payables	MXN	802	—	802	881	—	881
Trade and other payables	PEN	—	—	—	1	—	1
Trade and other payables	AUD	24,394	—	24,394	15,876	—	15,876
Trade and other payables	ZAR	1,256	—	1,256	1,288	—	1,288
Trade and other payables	AED	72	—	72	—	—	—
Trade and other payables	JPY	—	—	—	99	—	99
Trade and other payables	CHF	32	—	32	—	—	—
Trade and other payables	COP	115	—	115	227	—	227
Trade and other payables	KRW	189	—	189	—	—	—
Subtotal trade and other payables		374,115	674	374,789	278,590	1,060	279,650
Other current provisions	USD	1,300,878	2,051	1,302,929	54,134	263,332	317,466
Other current provisions	CLP	—	217	217	200	—	200
Subtotal other current provisions		1,300,878	2,268	1,303,146	54,334	263,332	317,666


		As of December 31, 2022			As of December 31, 2021
Class of liability	Currency	Up to90 days	91 days to 1 year	Total	Up to90 days	91 days to 1 year	Total
		ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$

Current tax liabilities	USD	—	348,658	348,658	—	149,997	149,997
Current tax liabilities	CLP	—	999	999	—	12	12
Current tax liabilities	EUR	—	1,386	1,386	—	5,547	5,547
Current tax liabilities	MXN	—	5,568	5,568	—	1,841	1,841
Current tax liabilities	CNY	—	—	—	—	9,538	9,538
Subtotal current tax liabilities		—	356,611	356,611	—	166,935	166,935
Provisions for employee benefits, current	USD	25,867	8,631	34,498	14,341	11,776	26,117
Provisions for employee benefits, current	AUD	390	—	390	—	272	272
Provisions for employee benefits, current	EUR	385	—	385	214	—	214
Provisions for employee benefits, current	MXN	103	—	103	172	—	172
Subtotal Provisions for employee benefits, current		26,745	8,631	35,376	14,727	12,048	26,775
Other current non-financial liabilities	USD	393,401	98	393,499	99,643	8,593	108,236
Other current non-financial liabilities	BRL	1	—	1	1	—	1
Other current non-financial liabilities	CLP	8,281	39,456	47,737	6,342	2,941	9,283
Other current non-financial liabilities	CNY	92	—	92	20,736	—	20,736
Other current non-financial liabilities	EUR	1,564	250	1,814	1,281	423	1,704
Other current non-financial liabilities	MXN	725	14	739	562	—	562
Other current non-financial liabilities	JPY	47	—	47	32	—	32
Other current non-financial liabilities	PEN	—	—	—	70	—	70
Other current non-financial liabilities	COP	250	—	250	—	157	157
Other current non-financial liabilities	ARS	26	—	26	47	—	47
Other current non-financial liabilities	ZAR	—	1	1	846	—	846
Other current non-financial liabilities	KRW	2,271	—	2,271	—	—	—
Subtotal other current non-financial liabilities		406,658	39,819	446,477	129,560	12,114	141,674
Total current liabilities		2,249,142	802,405	3,051,547	523,989	467,720	991,709


		As of December 31, 2022
		Over 1 year to 2	Over 2 years to 3	Over 3 years to 4	Over 4 years to 5
Class of liability	Currency	years	years	years	years	Over 5 years	Total
		ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
Non-current liabilities
Other non-current financial liabilities	USD	—	197,521	249,531	—	1,544,654	1,991,706
Other non-current financial liabilities	CLF	—	—	—	—	402,512	402,512
Subtotal Other non-current financial liabilities		—	197,521	249,531	—	1,947,166	2,394,218
Non-current lease liabilities	USD	—	13,566	—	22,500	—	36,066
Non-current lease liabilities	CLP	—	—	—	23	—	23
Non-current lease liabilities	CLF	—	—	—	10,982	—	10,982
Non-current lease liabilities	MXN	—	—	—	1,094	—	1,094
Non-current lease liabilities	EUR	—	—	—	1,420	—	1,420
Subtotal non-current lease liabilities		—	13,566	—	36,019	—	49,585
Non-current Trade and other payables	USD	—	—	—	—	—	—
Subtotal Non-current Trade and other payables		—	—	—	—	—	—
Other non-current provisions	USD	—	3,648	—	26,200	28,205	58,053
Subtotal Other non-current provisions		—	3,648	—	26,200	28,205	58,053
Deferred tax liabilities	USD	—	289,825	—	—	—	289,825
Subtotal Deferred tax liabilities		—	289,825	—	—	—	289,825
Provisions for employee benefits, non-current	USD	34,326	—	—	—	9,006	43,332
Provisions for employee benefits, non-current	CLP	540	—	—	—	—	540
Subtotal Provisions for employee benefits, non-current		34,866	—	—	—	9,006	43,872
Total non-current liabilities		34,866	504,560	249,531	62,219	1,984,377	2,835,553
Total liabilities							5,887,100


	As of December 31, 2021
		Over 1 year to 2	Over 2 years to 3	Over 3 years to 4	Over 4 years to 5
Class of liability	Currency	years	years	years	years	Over 5 years	Total
		ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
Non-current liabilities
Other non-current financial liabilities	USD	369,446	72,900	249,097	—	1,523,473	2,214,916
Other non-current financial liabilities	CLF	—	—	—	—	372,816	372,816
Subtotal Other non-current financial liabilities		369,446	72,900	249,097	—	1,896,289	2,587,732
Non-current lease liabilities	USD	—	6,695	—	23,174	—	29,869
Non-current lease liabilities	CLF	—	—	—	13,313	—	13,313
Non-current lease liabilities	MXN	—	—	—	1,530	—	1,530
Non-current lease liabilities	JPY	—	—	—	1,807	—	1,807
Subtotal non-current lease liabilities		—	6,695	—	39,824	—	46,519
Non-current Trade and other payables	USD	—	3,813	—	—	—	3,813
Subtotal Non-current Trade and other payables		—	3,813	—	—	—	3,813
Other non-current provisions	USD	—	4,257	—	31,017	25,764	61,038
Subtotal Other non-current provisions		—	4,257	—	31,017	25,764	61,038
Deferred tax liabilities	USD	—	136,823	—	—	109,497	246,320
Subtotal Deferred tax liabilities		—	136,823	—	—	109,497	246,320
Provisions for employee benefits, non-current	USD	26,710	—	—	—	—	26,710
Provisions for employee benefits, non-current	CLP	389	—	—	—	—	389
Subtotal Provisions for employee benefits, non-current		27,099	—	—	—	—	27,099
Total non-current liabilities		396,545	224,488	249,097	70,841	2,031,550	2,972,521
Total liabilities							3,964,230

Effects of changes in foreign currency exchange rates on the statement of net income and other comprehensive income.


	For the period from January to December of the year
Foreign currency exchange rate changes	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Foreign currency loss	(25,400)	(17,241)	(4,423)
Foreign currency translation reserve	(255)	4,240	14,000
Total	(25,655)	(13,001)	9,577

The average and closing exchange rate for foreign currency is disclosed in Note 3.3

Other current and non-current non-financial assets - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Disclosure of other non-financial assets [Line Items]
Other non-financial assets, current	$ 196,335	$ 69,870
Other non-financial assets, non-current	52,396	33,487
Domestic Value Added Tax
Disclosure of other non-financial assets [Line Items]
Other non-financial assets, current	81,361	26,356
Foreign Value Added Tax
Disclosure of other non-financial assets [Line Items]
Other non-financial assets, current	66,926	14,395
Prepaid mining licenses
Disclosure of other non-financial assets [Line Items]
Other non-financial assets, current	1,122	1,233
Prepaid insurance
Disclosure of other non-financial assets [Line Items]
Other non-financial assets, current	33,896	20,443
Other prepayment
Disclosure of other non-financial assets [Line Items]
Other non-financial assets, current	1,230	659
Refund of Value Added Tax to exporters
Disclosure of other non-financial assets [Line Items]
Other non-financial assets, current	3,020	0
Other taxes
Disclosure of other non-financial assets [Line Items]
Other non-financial assets, current	7,512	6,030
Other assets
Disclosure of other non-financial assets [Line Items]
Other non-financial assets, current	1,268	754
Other non-financial assets, non-current	7,656	6,113
Exploration and evaluation expenses
Disclosure of other non-financial assets [Line Items]
Other non-financial assets, non-current	44,023	26,752
Guarantee deposits
Disclosure of other non-financial assets [Line Items]
Other non-financial assets, non-current	$ 717	$ 622

Financial instruments - Movements in Provisions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Financial instruments
Impairment provision of accounts receivable at the beginning of the year	$ 14,716	$ 27,273
Increase (decrease) impairment of accounts receivable	(3,369)	235
Write-off of receivables		(11,091)
Difference in exchange rate	(1,154)	(1,701)
Impairment provision of accounts receivable provision at the end of the year	10,193	14,716
Trade and other receivables provision	4,759	10,352
Current other receivables provision	4,056	3,647
Trade receivables with related parties, current Provision	1,378	717
Insurance recovered		210
Impairment provision of accounts receivable	10,193	14,716
Renegotiated receivables	356	910
Non-renegotiated receivables	$ 9,837	$ 13,806

Cash and cash equivalents - Information by Currency (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash and cash equivalents.
Cash and cash equivalents	$ 2,655,236	$ 1,515,051	$ 509,102	$ 588,530

Basis of presentation for the consolidated financial statements - Revision of Earnings Per Share (Details) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of reclassifications or changes in presentation [line items]
Basic earnings per share (US$ per share)	$ 13.6757	$ 2.1048	$ 0.6251
Diluted earnings per share (US$ per share)	$ 13.6757	2.1048	0.6251
Original balance
Disclosure of reclassifications or changes in presentation [line items]
Basic earnings per share (US$ per share)		0.6251	1.0567
Diluted earnings per share (US$ per share)		0.6251	1.0567
Reclassified balance
Disclosure of reclassifications or changes in presentation [line items]
Basic earnings per share (US$ per share)		2.1048	0.6251
Diluted earnings per share (US$ per share)		$ 2.1048	$ 0.6251

Gains (losses) from operating activities in the statement of income of expenses, included according to their nature - Revenue by Main Products and Service Lines (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement [Line Items]
Revenue	$ 10,710,578	$ 2,862,315	$ 1,817,191
Specialty plant nutrition
Statement [Line Items]
Revenue	1,172,334	908,815	701,688
Sodium Nitrates
Statement [Line Items]
Revenue	21,294	24,829	18,291
Potassium nitrate and sodium potassium nitrate
Statement [Line Items]
Revenue	700,081	539,336	424,041
Specialty Blends
Statement [Line Items]
Revenue	285,027	234,369	163,033
Other specialty fertilizers
Statement [Line Items]
Revenue	165,932	110,281	96,323
Iodine and derivatives
Statement [Line Items]
Revenue	754,339	437,931	334,657
Lithium and derivatives
Statement [Line Items]
Revenue	8,152,939	936,121	383,373
Potassium
Statement [Line Items]
Revenue	437,180	416,592	209,294
Industrial chemicals
Statement [Line Items]
Revenue	165,200	132,011	160,608
Other
Statement [Line Items]
Revenue	28,586	30,845	27,571
Services
Statement [Line Items]
Revenue	3,785	3,428	3,241
Income from property leases
Statement [Line Items]
Revenue	454	1,531	1,457
Income from subleases on right-of-use assets
Statement [Line Items]
Revenue	142	146	176
Commodities
Statement [Line Items]
Revenue	11,838	12,468	11,938
Other ordinary income of Commercial Offices
Statement [Line Items]
Revenue	$ 12,367	$ 13,272	$ 10,759

Income tax and deferred taxes - Narrative (Details)	12 Months Ended
Income tax and deferred taxes - Narrative (Details)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of Income tax and deferred taxes [Line Items]
Applicable tax rate	27.00%	27.00%	27.00%
Prescriptive period for review legal deadline	3
Prescriptive period extended for review legal deadline	6
Mining royalties operation
Disclosure of Income tax and deferred taxes [Line Items]
Applicable tax rate	9.60%
Caliche extraction operation
Disclosure of Income tax and deferred taxes [Line Items]
Applicable tax rate	9.09%
United States
Disclosure of Income tax and deferred taxes [Line Items]
Prescriptive period for review legal deadline	3
Prescriptive period extended for review legal deadline	6
United States \| Maximum
Disclosure of Income tax and deferred taxes [Line Items]
Applicable tax rate	3.51%	3.51%
United States \| Minimum
Disclosure of Income tax and deferred taxes [Line Items]
Applicable tax rate	21.00%	21.00%
Mexico
Disclosure of Income tax and deferred taxes [Line Items]
Applicable tax rate	30.00%	30.00%
Prescriptive period for review legal deadline	5
Spain
Disclosure of Income tax and deferred taxes [Line Items]
Prescriptive period for review legal deadline	4
Belgium
Disclosure of Income tax and deferred taxes [Line Items]
Prescriptive period for review legal deadline	3
Prescriptive period extended for review legal deadline	5
South Africa
Disclosure of Income tax and deferred taxes [Line Items]
Applicable tax rate	28.00%	28.00%
Prescriptive period for review legal deadline	3
Prescriptive period extended for review legal deadline	5
China
Disclosure of Income tax and deferred taxes [Line Items]
Prescriptive period for review legal deadline	3
Prescriptive period extended for review legal deadline	5
China \| Maximum
Disclosure of Income tax and deferred taxes [Line Items]
Applicable tax rate	12.00%	12.00%
China \| Minimum
Disclosure of Income tax and deferred taxes [Line Items]
Applicable tax rate	25.00%	25.00%
Korea
Disclosure of Income tax and deferred taxes [Line Items]
Applicable tax rate	25.00%	25.00%
Prescriptive period for review legal deadline	5
Prescriptive period extended for review legal deadline	7
Korea \| Maximum
Disclosure of Income tax and deferred taxes [Line Items]
Prescriptive period extended for review legal deadline failure to file tax return	10 years
Prescriptive period extended for review legal deadline, tax evasion or fraud	15 years
Korea \| Minimum
Disclosure of Income tax and deferred taxes [Line Items]
Prescriptive period extended for review legal deadline failure to file tax return	5 years
Prescriptive period extended for review legal deadline, tax evasion or fraud	10 years

Income tax and deferred taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement [Line Items]
Deferred tax assets	$ 604,471	$ 135,904
Deferred tax liabilities	(289,825)	(246,320)
Total	314,646	(110,416)	$ (156,101)
Unrealized loss
Statement [Line Items]
Deferred tax assets	655,695	144,181
Deferred tax liabilities		0
Total	655,695	144,181	90,585
Property, plant and equipment and capitalized interest
Statement [Line Items]
Deferred tax assets	0	0
Deferred tax liabilities	(244,560)	(189,073)
Total	(244,560)	(189,073)	(187,168)
Restoration and rehabilitation provision
Statement [Line Items]
Deferred tax assets	4,685	6,567
Deferred tax liabilities	0	0
Total	4,685	6,567
Manufacturing expenses
Statement [Line Items]
Deferred tax assets	0	0
Deferred tax liabilities	(139,383)	(108,181)
Total	(139,383)	(108,181)	(107,215)
Employee benefits and unemployment insurance
Statement [Line Items]
Deferred tax assets	0	0
Deferred tax liabilities	(8,995)	(7,485)
Total	(8,995)	(7,486)	(6,669)
Vacation accrual
Statement [Line Items]
Deferred tax assets	7,650	6,039
Deferred tax liabilities	0	0
Total	7,650	6,039	6,138
Inventory provision
Statement [Line Items]
Deferred tax assets	27,512	20,557
Deferred tax liabilities	0	0
Total	27,512	20,557	22,200
Materials provision
Statement [Line Items]
Deferred tax assets	11,915	10,554
Deferred tax liabilities	0	0
Total	11,915	10,554	8,812
Others employee benefits
Statement [Line Items]
Deferred tax assets	1,177	929
Deferred tax liabilities	0	0
Research and development expenses
Statement [Line Items]
Deferred tax assets	0	0
Deferred tax liabilities	(12,294)	(5,387)
Total	(12,294)	(5,387)	(3,581)
Bad debt provision
Statement [Line Items]
Deferred tax assets	715	2,708
Deferred tax liabilities	0	0
Total	715	2,708	5,072
Provision for legal complaints and expenses
Statement [Line Items]
Deferred tax assets	6,827	334
Deferred tax liabilities	0	0
Total	6,827	334	19,637
Loan approval expenses
Statement [Line Items]
Deferred tax assets	0
Deferred tax liabilities	(8,793)
Total	(8,793)	(8,967)	(5,212)
Junior mining companies valued based on stock price
Statement [Line Items]
Deferred tax assets	5,226
Deferred tax liabilities	0
Total	5,226	5,243	(3,929)
Royality
Statement [Line Items]
Deferred tax assets	0
Deferred tax liabilities	(5,799)
Total	(5,799)	(4,545)	(3,012)
Loan acquisition expenses
Statement [Line Items]
Deferred tax assets		0
Deferred tax liabilities		(8,967)
Financial instruments recorded at market value
Statement [Line Items]
Deferred tax assets		5,242
Deferred tax liabilities		0
Specific tax on mining activity
Statement [Line Items]
Deferred tax assets		0
Deferred tax liabilities		(4,545)
Tax loss benefit
Statement [Line Items]
Deferred tax assets	10,059	7,113
Deferred tax liabilities	0	0
Total	8,615	7,113	844
Other
Statement [Line Items]
Deferred tax assets	2,913	8,862
Deferred tax liabilities	0	0
Total	16,049	8,862	1,454
Foreign items (other)
Statement [Line Items]
Deferred tax assets	96	136
Deferred tax liabilities	0
Total	(11,596)	136	$ (654)
Balances to date
Statement [Line Items]
Deferred tax assets	734,470	213,222
Deferred tax liabilities	$ (419,824)	$ (323,638)

Gains (losses) from operating activities in the statement of income of expenses, included according to their nature - Cost of Sales by Nature of Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement [Line Items]
Depreciation of Right-of-use Assets (contracts under IFRS 16)	$ (9,206)	$ (8,706)
Expenses related to variable lease payments (contracts under IFRS 16)	(3,631)	(1,313)	$ (1,117)
Total	(4,973,953)	(1,772,208)	(1,334,321)
Cost of sales
Statement [Line Items]
Employee benefit expenses	(561,709)	(345,356)	(287,877)
Raw material and supplies	(308,744)	(211,771)	(178,956)
Depreciation expense	(218,714)	(195,678)	(182,314)
Depreciation of Right-of-use Assets (contracts under IFRS 16)	(6,549)	(5,963)	(5,814)
Amortization expense	(16,413)	(9,737)	(12,938)
Investment plan expenses	(18,293)	(15,059)	(14,286)
Provision for materials, spare parts and supplies	(7,099)	(505)	640
Contractors	(194,296)	(157,571)	(142,017)
Operating leases	(71,420)	(67,106)	(57,461)
Mining concessions	(14,585)	(7,325)	(6,645)
Operational transportation	(91,130)	(76,004)	(68,730)
Freight / product transportation costs	(94,727)	(77,353)	(52,156)
Purchase of products from third parties	(473,742)	(329,464)	(260,089)
Insurance	(43,323)	(21,869)	(17,657)
CORFO right	(3,272,897)	(247,604)	(74,418)
Export costs	(153,162)	(99,212)	(88,176)
Expenses related to variable lease payments (contracts under IFRS 16)	(3,631)	(1,313)	(1,117)
Variation in gross inventory	631,156	85,709	102,446
Variation in inventory provision	(27,324)	5,038	7,244
Others	$ (27,351)	$ 5,935	$ 6,000

Property, plant and equipment - Provision for Spare Parts (Details) - Spare Parts - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Disclosure of detailed information about property, plant and equipment [line items]
Opening balance	$ 48,262	$ 42,881
Increase in provisions	3,810	5,381
Ending balance	$ 52,072	$ 48,262

Gains (losses) from operating activities in the statement of income of expenses, included according to their nature

12 Months Ended

Dec. 31, 2022

Gains (losses) from operating activities in the statement of income of expenses, included according to their nature

Gains (losses) from operating activities in the statement of income of expenses, included according to their nature

Note 21 Gains (losses) from operating activities in the statement of income of expenses, included according to their nature

21.1Revenue from operating activities customer activities

The Group derives revenues from the sale of goods (which are recognized at one point in time) and from the provision of services (which are recognized over time) and are distributed among the following geographical areas and main product and service lines:

(a)

Geographic areas:


For the year ended December 31, 2022
	Specialty
	plant	Iodine and	Lithium and		Industrial		Total
Geographic areas	nutrition	derivatives	derivatives	Potassium	chemicals	Other	ThUS$
Chile	128,829	1,523	1,854	64,409	1,199	25,334	223,148
Latin America and the Caribbean	125,712	16,328	5,275	179,621	11,820	1,185	339,941
Europe	196,930	288,854	390,832	27,275	27,725	942	932,558
North America	489,327	141,683	151,152	71,711	59,402	912	914,187
Asia and Others	231,536	305,951	7,603,826	94,164	65,054	213	8,300,744
Total	1,172,334	754,339	8,152,939	437,180	165,200	28,586	10,710,578


For the year ended December 31, 2021
	Specialty
	plant	Iodine and	Lithium and		Industrial		Total
Geographic areas	nutrition	derivatives	derivatives	Potassium	chemicals	Other	ThUS$
Chile	136,523	1,538	901	50,573	4,125	25,988	219,648
Latin America and the Caribbean	88,990	10,198	4,905	214,304	7,367	523	326,287
Europa	179,744	173,329	75,674	33,948	18,662	1,408	482,765
North America	314,895	102,746	50,349	57,682	29,860	2,470	558,002
Asia and Others	188,663	150,120	804,292	60,085	71,997	456	1,275,613
Total	908,815	437,931	936,121	416,592	132,011	30,845	2,862,315


For the year ended December 31, 2020
	Specialty
	plant	Iodine and	Lithium and		Industrial		Total
Geographic areas	nutrition	derivatives	derivatives	Potassium	chemicals	Other	ThUS$
Chile	100,353	1,234	399	23,963	4,059	23,737	153,745
Latin America and the Caribbean	69,535	10,843	1,597	72,697	4,951	367	159,990
Europa	145,896	142,161	49,719	30,029	11,585	735	380,125
North America	246,737	90,292	25,558	39,432	23,963	1,588	427,570
Asia and Others	139,167	90,127	306,100	43,173	116,050	1,144	695,761
Total	701,688	334,657	383,373	209,294	160,608	27,571	1,817,191

(b)	Main product and service lines:


	For the period from January to December of the year
Products and Services	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Specialty plant nutrition	1,172,334	908,815	701,688
- Sodium Nitrates	21,294	24,829	18,291
- Potassium nitrate and sodium potassium nitrate	700,081	539,336	424,041
- Specialty Blends	285,027	234,369	163,033
- Other specialty fertilizers	165,932	110,281	96,323
Iodine and derivatives	754,339	437,931	334,657
Lithium and derivatives	8,152,939	936,121	383,373
Potassium	437,180	416,592	209,294
Industrial chemicals	165,200	132,011	160,608
Other	28,586	30,845	27,571
- Services	3,785	3,428	3,241
- Income from property leases	454	1,531	1,457
- Income from subleases on right-of-use assets	142	146	176
- Commodities	11,838	12,468	11,938
- Other ordinary income of Commercial Offices	12,367	13,272	10,759
Total	10,710,578	2,862,315	1,817,191

21.2Cost of sales

Cost of sales broken down by nature of expense:


	For the period from January
	to December of the year
Nature of expense	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Raw materials and consumables used	(561,709)	(345,356)	(287,877)
Classes of employee benefit expenses	(308,744)	(211,771)	(178,956)
Depreciation expense	(218,714)	(195,678)	(182,314)
Depreciation of Right-of-use Assets (contracts under IFRS 16)	(6,549)	(5,963)	(5,814)
Amortization expense	(16,413)	(9,737)	(12,938)
Investment plan expenses	(18,293)	(15,059)	(14,286)
Provision for materials, spare parts and supplies	(7,099)	(505)	640
Contractors	(194,296)	(157,571)	(142,017)
Operating leases	(71,420)	(67,106)	(57,461)
Mining concessions	(14,585)	(7,325)	(6,645)
Operational transportation	(91,130)	(76,004)	(68,730)
Freight / product transportation costs	(94,727)	(77,353)	(52,156)
Purchase of products from third parties	(473,742)	(329,464)	(260,089)
Insurance	(43,323)	(21,869)	(17,657)
Corfo rights and other agreements	(3,272,897)	(247,604)	(74,418)
Export costs	(153,162)	(99,212)	(88,176)
Expenses related to variable lease payments (contracts under IFRS 16)	(3,631)	(1,313)	(1,117)
Variation in gross inventory	631,156	85,709	102,446
Variation in inventory provision	(27,324)	5,038	7,244
Other	(27,351)	5,935	6,000
Total	(4,973,953)	(1,772,208)	(1,334,321)

21.3Other income


	For the period from January
	to December of the year
Other income	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Discounts obtained from suppliers	1,404	896	665
Fines charged to suppliers	593	83	267
Taxes recovered	1,646	1,811	1,487
Amounts recovered from insurance	86	293	14,861
Overestimate of provisions for third-party obligations	365	287	118
Sale of assets classified as properties, plant and equipment	246	311	1,626
Sale of mining rights	1,126	8,796	5,852
Easements, pipelines and roads	2,106	4,949	1,619
Refunds for mining patents and notarial expenses	20	198	85
Others	2,262	1,928	313
Total	9,854	19,552	26,893

21.4Administrative expenses


	For the period from January
	to December of the year
Administrative expenses	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Employee benefit expenses	(63,713)	(60,552)	(55,152)
Marketing costs	(5,661)	(2,415)	(2,377)
Amortization expenses	(126)	(118)	(91)
Entertainment expenses	(5,576)	(4,906)	(4,858)
Advisory services	(27,235)	(17,332)	(13,880)
Lease of buildings and facilities	(3,829)	(3,478)	(3,111)
Insurance	(3,011)	(3,901)	(3,478)
Office expenses	(8,596)	(6,363)	(6,204)
Contractors	(7,283)	(5,106)	(5,079)
Depreciation of Right-of-use Assets (contracts under IFRS 16)	(2,656)	(2,743)	(2,617)
Other expenses	(14,958)	(11,979)	(10,170)
Total	(142,644)	(118,893)	(107,017)

21.5Other expenses


	For the period from January
	to December of the year
Other expenses	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Depreciation and amortization expense
Depreciation of assets not in use	—	—	(138)
Subtotal	—	—	(138)
Impairment (losses) /reversals of impairment losses recognized in profit for the year
Properties, plant and equipment	(8,084)	(5,582)	(9,563)
Intangible assets other than goodwill	(520)	(478)	(1,941)
Goodwill	(33,629)	—	(140)
Non-current assets and disposal groups held for sale	—	—	—
Subtotal	(42,233)	(6,060)	(11,644)
Other expenses, by nature
Legal expenses	(6,841)	(42,254)	(69,965)
VAT and other unrecoverable taxes	(5,694)	(1,015)	(626)
Fines paid	(617)	(882)	(314)
Investment plan expenses	(727)	1	(768)
Exploration expenses	—	(284)	(5,262)
Contributions and donations	(19,096)	(9,037)	(8,793)
Other operating expenses	(763)	(1,074)	(2,102)
Subtotal	(33,738)	(54,545)	(87,830)
Total	(75,971)	(60,605)	(99,612)

21.6Other gains (losses)


	For the period from January
	to December of the year
Other (losses) income	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Sale of investments in associates	60	—	(11,830)
Adjust previous year application method of participation	—	—	(49)
Impairment of interests in associates	1,349	(2,009)	7,235
Sale of investments in joint ventures	—	—	(481)
Others	(1,292)	(629)	(188)
Total	117	(2,638)	(5,313)

21.7(Impairment) reversal of losses of financial assets


	For the period from January
	to December of the year
(Impairment) reversal of losses of financial assets	2022	2021	2020
	ThUS$	ThUS$	ThUS$
(Impairment) /reversal of losses of financial assets (See Note 12.2)	3,369	(235)	4,684
Totals	3,369	(235)	4,684

21.8Summary of expenses by nature

The following summary considers notes 21.2, 21.4 and 21.5


	For the period from January
	to December of the year
Expenses by nature	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Raw materials and consumables	(561,709)	(345,356)	(287,877)
Employee benefit expenses	(372,457)	(272,323)	(234,108)
Depreciation expense	(218,714)	(195,678)	(182,452)
Depreciation of right-of-use assets	(9,205)	(8,706)	(8,431)
Impairment of properties, plant and equipment, intangible and Goodwill	(42,233)	(6,060)	(11,644)
Amortization expense	(16,539)	(9,855)	(13,029)
Legal expenses	(6,841)	(42,254)	(69,965)
Investment plan expenses	(19,020)	(15,058)	(15,054)
Exploration expenses	—	(284)	(5,262)
Provision for materials, spare parts and supplies	(7,099)	(505)	640
Contractors	(201,579)	(162,677)	(147,096)
Operational leases	(75,249)	(70,584)	(60,572)
Mining concessions	(14,585)	(7,325)	(6,645)
Operational transportation	(91,130)	(76,004)	(68,730)
Freight and product transportation costs	(94,727)	(77,353)	(52,156)
Purchase of products from third parties	(473,742)	(329,464)	(260,089)
Corfo rights and other agreements	(3,272,897)	(247,604)	(74,418)
Export costs	(153,162)	(99,212)	(88,176)
Expenses related to variable lease payments (contracts under IFRS 16)	(3,631)	(1,313)	(1,117)
Insurance	(46,334)	(25,770)	(21,135)
Consultant and advisor services	(27,235)	(17,332)	(13,880)
Variation in gross inventory	631,156	85,709	102,446
Variation in inventory provision	(27,324)	5,038	7,244
Other expenses	(88,312)	(31,736)	(29,444)
Total expenses by nature	(5,192,568)	(1,951,706)	(1,540,950)

21.9Finance expenses


	For the period from January
	to December of the year
Finance expenses	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Interest expense from bank borrowings and overdrafts	(3,065)	(2,664)	(2,797)
Interest expense from bonds	(108,387)	(90,859)	(87,030)
Interest expense from loans	(2,098)	(1,135)	(1,598)
Reversal of capitalized interest expenses	24,708	14,206	8,462
Financial expenses for restoration and rehabilitation provisions	9,357	(1,259)	2,947
Interest on lease agreement	(1,226)	(1,587)	(1,133)
Interest and bank charges	(5,940)	(1,328)	(1,050)
Total	(86,651)	(84,626)	(82,199)

21.10Finance income


	For the period from January
	to December of the year
Finance income	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Interest from term deposits	31,122	3,635	10,260
Interest from marketable securities	10,252	68	2,147
Interest from maintenance of minimum bank balance in current account	6	2	18
Other finance income	3,318	107	259
Other finance interests	2,340	856	1,031
Total	47,038	4,668	13,715

Financial instruments - Reconciliation of Net Debt (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Detailed Information About Changes In Net Debt [Line Items]
Net debt, beginning	$ (258,915,000)	$ (1,105,095,000)
Amounts from loans	(235,412,000)	(677,930,000)
Amounts from interests	58,884,000	81,656,000
Other cash income/expenses	1,140,096,000	1,630,815,000
Interests	15,763,000	(136,825,000)
Exchange rate differences	(84,710,000)	1,226,000
Fair value	24,540,000	(52,762,000)
Net debt, ending	660,246,000	(258,915,000)
Obligations with the public and bank loans
Disclosure Of Detailed Information About Changes In Net Debt [Line Items]
Net debt, beginning	(2,555,511,000)	(1,922,864,000)
Amounts from loans	(246,883,000)	(685,130,000)
Amounts from interests	98,155,000	75,578,000
Other cash income/expenses	2,566,000	16,570,000
Interests	(103,100,000)	(84,138,000)
Exchange rate differences	(44,102,000)	44,473,000
Net debt, ending	(2,848,875,000)	(2,555,511,000)
Current and non-current lease liabilities
Disclosure Of Detailed Information About Changes In Net Debt [Line Items]
Net debt, beginning	(54,223,000)	(31,074,000)
Amounts from loans	10,478,000	7,960,000
Amounts from interests	1,226,000	1,587,000
Other cash income/expenses	0	0
Interests	(20,426,000)	(32,877,000)
Exchange rate differences	1,211,000	181,000
Net debt, ending	(61,734,000)	(54,223,000)
Financial instruments derived from hedging
Disclosure Of Detailed Information About Changes In Net Debt [Line Items]
Net debt, beginning	(81,597,000)	18,070,000
Amounts from loans	993,000	(760,000)
Amounts from interests	7,623,000	7,238
Other cash income/expenses	0	0
Interests	37,494,000	(52,254,000)
Exchange rate differences	0	0
Fair value	25,426,000	(53,891,000)
Net debt, ending	(10,061,000)	(81,597,000)
Non-hedging derivative financial instruments (net)
Disclosure Of Detailed Information About Changes In Net Debt [Line Items]
Net debt, beginning	(418,000)
Amounts from loans	0
Amounts from interests	0
Other cash income/expenses	(39,878,000)
Interests	38,653,000
Exchange rate differences	0
Net debt, ending	(1,643,000)	(418,000)
Hedging and Investment Derivatives
Disclosure Of Detailed Information About Changes In Net Debt [Line Items]
Net debt, beginning	12,613,000
Amounts from loans	0
Amounts from interests	0
Other cash income/expenses	(52,698,000)
Interests	16,104,000
Exchange rate differences	0
Fair value	(6,003,000)
Net debt, ending	(29,984,000)	12,613,000
Current and non current financial liabilities
Disclosure Of Detailed Information About Changes In Net Debt [Line Items]
Net debt, beginning	(2,691,749,000)	(1,938,652,000)
Amounts from loans		(677,930,000)
Amounts from interests		84,403,000
Other cash income/expenses		14,243,000
Interests		(164,576,000)
Exchange rate differences		44,654,000
Fair value		(53,891,000)
Net debt, ending		(2,691,749,000)
Current and non-current financial liabilities
Disclosure Of Detailed Information About Changes In Net Debt [Line Items]
Net debt, beginning	(2,679,136,000)
Amounts from loans	(235,412,000)
Amounts from interests	107,004,000
Other cash income/expenses	(90,010,000)
Interests	(31,275,000)
Exchange rate differences	(42,891,000)
Fair value	19,423,000
Net debt, ending	(2,952,297,000)	(2,679,136,000)
Cash and cash equivalents
Disclosure Of Detailed Information About Changes In Net Debt [Line Items]
Net debt, beginning	1,515,051,000	509,102,000
Amounts from loans	0	0
Amounts from interests	0	0
Other cash income/expenses	1,165,225,000	1,022,061,000
Interests	0	0
Exchange rate differences	(25,040,000)	(16,112,000)
Net debt, ending	2,655,236,000	1,515,051,000
Deposits that do not qualify as cash and cash equivalents
Disclosure Of Detailed Information About Changes In Net Debt [Line Items]
Net debt, beginning	905,170,000	345,459,000
Amounts from loans	0	0
Amounts from interests	(48,120,000)	(2,747,000)
Other cash income/expenses	62,859,000	585,106,000
Interests	47,038,000	4,668,000
Exchange rate differences	(16,779,000)	(27,316,000)
Net debt, ending	950,168,000	905,170,000
Derivatives for Investment Hedges SQM Australia
Disclosure Of Detailed Information About Changes In Net Debt [Line Items]
Amounts from loans	0
Amounts from interests	0
Other cash income/expenses	2,022,000
Interests	0
Exchange rate differences	0
Fair value	5,117,000
Net debt, ending	7,139,000
Derivatives from hedge assets
Disclosure Of Detailed Information About Changes In Net Debt [Line Items]
Net debt, beginning	12,613,000	(21,004,000)
Amounts from loans		0
Amounts from interests		0
Other cash income/expenses		9,405,000
Interests		23,083,000
Exchange rate differences		0
Fair value		1,129,000
Net debt, ending		12,613,000
Derivatives from other financial non-hedge assets
Disclosure Of Detailed Information About Changes In Net Debt [Line Items]
Net debt, beginning	$ (418,000)	(2,784,000)
Amounts from loans		0
Amounts from interests		0
Other cash income/expenses		(2,327)
Interests		4,693,000
Exchange rate differences		0
Net debt, ending		$ (418,000)

Provisions and other non-financial liabilities - Types of Provisions (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Disclosure of Provisions and other non-financial liabilities [Line Items]
Current provisions	$ 1,303,146	$ 317,666
Non-current provisions	58,053	61,038
Total	1,361,199	378,704
Legal complaints
Disclosure of Provisions and other non-financial liabilities [Line Items]
Current provisions	52,106	48,518
Non-current provisions	1,603	1,223
Total	53,709	49,741
Provision for dismantling, restoration and rehabilitation cost
Disclosure of Provisions and other non-financial liabilities [Line Items]
Current provisions	0	0
Non-current provisions	53,995	58,592
Total	53,995	58,592
Other provisions
Disclosure of Provisions and other non-financial liabilities [Line Items]
Current provisions	1,251,040	269,148
Non-current provisions	2,455	1,223
Total	$ 1,253,495	$ 270,371

Identification and activities of the Company and Subsidiaries (Tables)

12 Months Ended

Dec. 31, 2022

Identification and activities of the Company and Subsidiaries

Schedule of information about employees

As of December 31, 2022, and 2021, the workforce was as follows:


	As of December 31, 2022			As of December 31, 2021
		Other			Other
Employees	SQM S.A.	subsidiaries	Total	SQM S.A.	subsidiaries	Total
Executives	32	128	160	33	103	136
Professionals	177	2,506	2,683	117	1,639	1,756
Technicians and operators	309	3,845	4,154	275	3,914	4,189
Overall total	518	6,479	6,997	425	5,656	6,081

As of December 31, 2022

As of December 31, 2021

Other

Place of work

SQM S.A.

subsidiaries

Total

SQM S.A.

subsidiaries

Total

In Chile

518

6,015

6,533

425

5,246

5,671

Outside Chile

—

464

—

410

Overall total

518

6,479

6,997

425

5,656

6,081

Schedule of shareholders stock and ownership percentage

information is derived from our registry and reports managed by the DCV and informed to the CMF and the Chilean Stock Exchange:


		% of Series A			% of Series B		% of total
Shareholders as of December 31, 2022	No. of Series A	shares		No. of Series B	shares		shares
The Bank of New York Mellon, ADRs	—	—		64,555,045	45.20	%	22.60	%
Inversiones TLC SpA (1)	62,556,568	43.80	%	—	—		21.90	%
Sociedad de Inversiones Pampa Calichera S.A. (2)	43,133,789	30.20	%	1,611,227	1.13	%	15.66	%
Potasios de Chile S.A.	18,179,147	12.73	%	—	—		6.36	%
Banco de Chile via State Street	79,265	0.06	%	10,979,388	7.69	%	3.87	%
AF Habitad S.A.	—	—		9,504,885	6.66	%	3.33	%
Inv. Global Mining (Chile) Ltda.	8,798,539	6.16	%	—	—		3.08	%
Banco Santander via foreign investor accounts	545,729	0.38	%	8,181,775	5.73	%	3.06	%
AFP Cuprum S.A.	—	—		6,535,039	4.58	%	2.29	%
Banco de Chile non-resident third party accounts	62,829	0.04	%	6,181,476	4.33	%	2.19	%
AF Capital S.A.	—	—		5,652,982	3.96	%	1.98	%
AFP Provida S.A.	—	—		5,263,361	3.69	%	1.84	%


		% of Series A			% of Series B		% of total
Shareholders as of December 31, 2021	No. of Series A	shares		No. of Series B	shares		shares
Inversiones TLC SpA (1)	62,556,568	43.80	%	—	—		21.90	%
The Bank of New York Mellon, ADRs	—	—		67,603,420	47.34	%	23.67	%
Sociedad de Inversiones Pampa Calichera S.A. (2)	44,989,231	31.50	%	—	—		15.75	%
Potasios de Chile S.A.	18,179,147	12.73	%	—	—		6.36	%
Inversiones Global Mining (Chile) Limitada	8,798,539	6.16	%	—	—		3.08	%
Banco de Chile via State Street	23,428	0.02	%	9,178,379	6.43	%	3.22	%
Banco Santander via foreign investor accounts	—	—		8,856,091	6.20	%	3.10	%
Banco de Chile non-resident third party accounts	445	—		7,939,865	5.56	%	2.78	%
Bando de Chile vi a Citi NA New York Clients	67,463	0.05	%	4,795,310	3.36	%	1.70	%
Inversiones la Esperanza de Chile Limitada	4,246,226	2.97	%	—	—		1.49	%
Larraín Vial S.A. Corredora de Bolsa	125,726	0.09	%	3,653,614	2.56	%	1.32	%
AFP Habitat S.A. for Pension Fund C	—	—		2,914,292	2.04	%	1.02	%

Other current and non-current non-financial assets - Short and Long-Term Exploitation Conciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Other current financial assets
Detailed Information About Short Term And Long Term Exploitation Conciliation [Line Items]
Opening balance	$ 1,235	$ 1,318
Amortization		(1,359)
Reclassifications	465	1,276
Total changes	465	(83)
Total	1,700	1,235
Other non-current financial assets
Detailed Information About Short Term And Long Term Exploitation Conciliation [Line Items]
Opening balance	8,598	7,011
Amortization	(2,421)
Reclassifications	1,519	1,587
Total changes	(902)	1,587
Total	$ 7,696	$ 8,598

Intangible assets and goodwill - Useful Life and Net Value of Intangible Assets and Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Intangible Assets And Goodwill [Line Items]
Intangible assets other than goodwill	$ 166,336	$ 179,658	$ 178,407
Goodwill	967	34,596	41,966
Total intangible assets and goodwill	$ 167,303	$ 214,254	214,254
IT programs \| Finite intangible assets
Disclosure Of Intangible Assets And Goodwill [Line Items]
Useful life	Finite	Finite
Intangible assets other than goodwill	$ 3,249	$ 3,447
Total intangible assets and goodwill	$ 3,249	$ 3,447	3,447
Mining rights \| Finite intangible assets
Disclosure Of Intangible Assets And Goodwill [Line Items]
Useful life	Finite	Finite
Intangible assets other than goodwill	$ 140,873	$ 149,532
Total intangible assets and goodwill	$ 140,873	$ 149,532	149,532
Water rights and rights of way \| Indeifinite intangible assets
Disclosure Of Intangible Assets And Goodwill [Line Items]
Useful life	Indefinite	Indefinite
Intangible assets other than goodwill	$ 4,909	$ 4,909
Total intangible assets and goodwill	$ 4,909	$ 4,909	4,909
Water rights \| Finite intangible assets
Disclosure Of Intangible Assets And Goodwill [Line Items]
Useful life	Finite	Finite
Intangible assets other than goodwill	$ 11,369	$ 15,158
Total intangible assets and goodwill	11,369	15,158	15,158
Customer-related intangible assets \| Finite intangible assets
Disclosure Of Intangible Assets And Goodwill [Line Items]
Total intangible assets and goodwill	$ 0	$ 0
Intellectual property \| Finite intangible assets
Disclosure Of Intangible Assets And Goodwill [Line Items]
Useful life	Finite	Finite
Intangible assets other than goodwill	$ 5,850	$ 6,481
Total intangible assets and goodwill	$ 5,850	$ 6,481	6,481
Other intangible assets \| Finite intangible assets
Disclosure Of Intangible Assets And Goodwill [Line Items]
Useful life	Finite	Finite
Intangible assets other than goodwill	$ 86	$ 131
Total intangible assets and goodwill	86	131	$ 131
Goodwill
Disclosure Of Intangible Assets And Goodwill [Line Items]
Goodwill	$ 967	$ 34,596
Goodwill \| Indeifinite intangible assets
Disclosure Of Intangible Assets And Goodwill [Line Items]
Useful life	Indefinite

Income tax and deferred taxes - Tax Loss Carryforwards (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Disclosure of Income tax and deferred taxes [Line Items]
Net operating loss carryforwards	$ 10,059	$ 8,557
Chile
Disclosure of Income tax and deferred taxes [Line Items]
Net operating loss carryforwards	$ 10,059	7,113
Foreign
Disclosure of Income tax and deferred taxes [Line Items]
Net operating loss carryforwards		$ 1,444

Employee benefits - Actuarial Assumptions (Details)	12 Months Ended
Employee benefits - Actuarial Assumptions (Details)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Employee benefits [Line Items]
Actual annual interest rate	5.12%	5.67%		3.65%
Voluntary retirement rate:
Salary increase	3.00%	3.00%	3.00%
Retirement age:
Mortality rate	RV - 2014	RV - 2014	RV - 2014
Men
Voluntary retirement rate:
Actuarial assumption voluntary retirement rate	6.49%	6.49%	6.49%
Retirement age:
Actuarial assumption of retirement age	65 years	65 years	65 years
Women
Voluntary retirement rate:
Actuarial assumption voluntary retirement rate	6.49%	6.49%	6.49%
Retirement age:
Actuarial assumption of retirement age	60 years	60 years	60 years
Maximum \| Men
Retirement age:
Actuarial assumption of retirement age		65 years
Maximum \| Women
Retirement age:
Actuarial assumption of retirement age		60 years

Board of Directors, Senior Management and Key management personnel (Details) - CLF CLF in Thousands	Apr. 26, 2022	Apr. 23, 2021
Board of Directors, Senior Management and Key management personnel
Key management personnel compensation	CLF 600	CLF 600

Income tax and deferred taxes - Reconciliation of Statutory Tax Rate to Effective Tax Rate (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Reconciliation of accounting profit multiplied by applicable tax rates [abstract]
Consolidated income before taxes	$ 5,486,496	$ 841,221	$ 238,538
Statutory income tax rate in Chile	27.00%	27.00%	27.00%
Tax expense using the statutory tax rate	$ (1,481,354)	$ (227,130)	$ (64,405)
Net effect of royalty tax payments	(57,500)	(13,350)	(4,659)
Tax effect of income from regular activities exempt from taxation and dividends from abroad	3,490	(260)	1,786
Tax rate effect of non-tax-deductible expenses for determining taxable profit (loss)	(11,058)	(2,226)	(2,987)
Tax effect of tax rates supported abroad	(25,053)	(5,622)	(2,077)
Effects of changes resulting from classifying a permanent item as a temporary one		0	4,826
Other tax effects of reconciliation of accounting income to tax expense	(737)	(428)	(2,663)
Income tax expense	$ (1,572,212)	$ (249,016)	$ (70,179)

Consolidated Statements of Financial Position - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current Assets
Cash and cash equivalents	$ 2,655,236	$ 1,515,051
Other current financial assets	961,355	919,049
Other current non-financial assets	196,335	69,870
Trade and other receivables, current	1,087,420	654,073
Trade receivables due from related parties, current	81,622	86,152
Current inventories	1,784,281	1,183,776
Current tax assets	224,914	157,542
Total current assets other than those classified as held for sale or disposal	6,991,163	4,585,513
Non-current assets or groups of assets classified as held for sale	346	582
Total non-current assets held for sale	346	582
Total current assets	6,991,509	4,586,095
Non-current assets
Other non-current financial assets	32,126	9,268
Other non-current non-financial assets	52,396	33,487
Non-current trade receivables	2,091	6,172
Investments classified using the equity method of accounting	54,386	39,824
Intangible assets other than goodwill	166,336	179,658
Goodwill	967	34,596
Property, plant and equipment, net	2,726,838	2,012,225
Right-of-use assets	60,867	52,608
Non-current tax assets	127,114	90,364
Deferred tax assets	604,471	135,904
Total non-current assets	3,827,592	2,594,106
Total assets	10,819,101	7,180,201
Current liabilities
Other current financial liabilities	522,999	51,305
Lease liabilities, current	12,149	7,704
Trade and other payables, current	374,789	279,650
Other current provisions	1,303,146	317,666
Current tax liabilities	356,611	166,935
Provisions for employee benefits, current	35,376	26,775
Other current non-financial liabilities	446,477	141,674
Total current liabilities	3,051,547	991,709
Non-current liabilities
Other non-current financial liabilities	2,394,218	2,587,732
Non-current lease liabilities	49,585	46,519
Non-current trade and other payables	0	3,813
Other non-current provisions	58,053	61,038
Deferred tax liabilities	289,825	246,320
Non-current provisions for employee benefits	43,872	27,099
Total non-current liabilities	2,835,553	2,972,521
Total liabilities	5,887,100	3,964,230
Equity attributable to owners of the Parent
Share capital	1,577,643	1,577,643
Retained earnings	3,350,114	1,648,032
Other reserves	(31,125)	(44,155)
Equity attributable to owners of the Parent	4,896,632	3,181,520
Non-controlling interests	35,369	34,451
Total equity	4,932,001	3,215,971
Total liabilities and equity	$ 10,819,101	$ 7,180,201

Gains (losses) from operating activities in the statement of income of expenses, included according to their nature - Summary of Expenses by Nature (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement [Line Items]
Depreciation of right-of-use assets	$ (9,206)	$ (8,706)
Impairment of properties, plant and equipment, intangible and Goodwill	(34,149)
Operational leases	(1,226)	(1,587)	$ (1,133)
Expenses related to variable lease payments (contracts under IFRS 16)	(3,631)	(1,313)	(1,117)
Total expenses by nature	(5,192,568)	(1,951,706)	(1,540,950)
Other expenses by nature
Statement [Line Items]
Raw materials and consumables	(561,709)	(345,356)	(287,877)
Employee benefit expenses	(372,457)	(272,323)	(234,108)
Depreciation expense	(218,714)	(195,678)	(182,452)
Depreciation of right-of-use assets	(9,205)	(8,706)	(8,431)
Impairment of properties, plant and equipment, intangible and Goodwill	(42,233)	(6,060)	(11,644)
Amortization expense	(16,539)	(9,855)	(13,029)
Legal expenses	(6,841)	(42,254)	(69,965)
Investment plan expenses	(19,020)	(15,058)	(15,054)
Exploration expenses	0	(284)	(5,262)
Provision for materials, spare parts and supplies	(7,099)	(505)	640
Contractors	(201,579)	(162,677)	(147,096)
Operational leases	(75,249)	(70,584)	(60,572)
Mining concessions	(14,585)	(7,325)	(6,645)
Operational transportation	(91,130)	(76,004)	(68,730)
Freight and product transport costs	(94,727)	(77,353)	(52,156)
Purchase of products from third parties	473,742	329,464	260,089
CORFO rights y other agreements	(3,272,897)	(247,604)	(74,418)
Export costs	153,162	99,212	88,176
Expenses related to variable lease payments (contracts under IFRS 16)	(3,631)	(1,313)	(1,117)
Insurance	(46,334)	(25,770)	(21,135)
Consultant and advisor services	(27,235)	(17,332)	(13,880)
Variation in gross inventory	(631,156)	(85,709)	(102,446)
Variation in inventory provision	27,324	(5,038)	(7,244)
Other expenses	$ (88,312)	$ (31,736)	$ (29,444)

Equity-accounted investees

12 Months Ended

Dec. 31, 2022

Equity-accounted investees

Equity-accounted investees

Note 7Equity-accounted investees

7.1Investments in associates recognized according to the equity method of accounting


				Share in profit (loss) of associates				Share in other comprehensive income of				Share in total comprehensive income of
				accounted for using the equity				associates accounted for using the equity				associates accounted for using the equity
	Equity-accounted investees				method				method				method
					For the year	For the year	For the year		For the year	For the year	For the year		For the year	For the year	For the year
	As of	As of	As of		ended	ended	ended		ended	ended	ended		ended	ended	ended
	December	December	December		December	December	December		December	December	December		December	December	December
Associate	31, 2022	31, 2021	31, 2020		31, 2022	31, 2021	31, 2020		31, 2022	31, 2021	31, 2020		31, 2022	31, 2021	31, 2020
	ThUS$	ThUS$	ThUS$		ThUS$	ThUS$	ThUS$		ThUS$	ThUS$	ThUS$		ThUS$	ThUS$	ThUS$
Abu Dhabi Fertilizer Industries WWL	—	—	11,505		—	—	(156)		—	—	—		—	—	(156)
Doktor Tarsa Tarim Sanayi AS (*)	—	—	—		—	—	4,031		—	—	—		—	—	4,031
Ajay North America	17,654	15,899	14,468		5,351	2,802	2,191		—	—	—		5,351	2,802	2,191
Ajay Europe SARL	8,624	8,213	7,875		6,130	1,852	1,029		(498)	360	756		5,632	2,212	1,785
SQM Eastmed Turkey (*)	—	—	—		—	—	247		—	—	—		—	—	247
Kore Potash PLC (**)	—	—	26,175		—	—	(224)		—	—	(374)		—	—	(598)
Total	26,278	24,112	60,023		11,481	4,654	7,118		(498)	360	382		10,983	5,014	7,500

(*)	These investments were disposed of in 2020

(**)	For more details, see Note 7.3 (b).

Dividends received for the year ending

Share of

Description of the nature

Country of

ownership in

December 31,

Associate

of the relationship

Address

incorporation

associates

2022

2021

2020

ThUS$

Abu Dhabi Fertilizer Industries WWL

Distribution and commercialization of specialty plant nutrients in the Middle East.

PO Box 71871, Abu Dhabi

United Arab Emirates

3,000

9,438

—

Ajay North America

Production and distribution of iodine and iodine derivatives.

1400 Industry RD Power Springs GA 30129

United States of North America

1,576

1,233

1,967

Ajay Europe SARL

Production and distribution of iodine and iodine derivatives.

Z.I. du Grand Verger BP 227 53602 Evron Cedex

France

1,778

992

1,197

Total

6,354

11,663

3,164

7.2Assets, liabilities, revenue and expenses of associates

The information disclosed reflects the amounts presented in the financial statements of the relevant associates and not the Company's share of those amounts.

As of December 31, 2022

For the year ended December 31, 2022

Assets

Liabilities

Other

comprehensive

Comprehensive

Associate

Current

Non-current

Current

Non-current

Revenue

Net income (loss)

income

ThUS$

Ajay North America

30,455

15,972

10,395

63,482

10,919

—

10,919

Ajay Europe SARL

33,742

1,992

18,486

—

64,060

12,261

(21)

12,240

Total

64,197

17,964

28,881

127,542

23,180

(21)

23,159

As of December 31, 2021

For the year ended December 31, 2021

Assets

Liabilities

Other

comprehensive

Comprehensive

Associate

Current

Non-current

Current

Non-current

Revenue

Net income (loss)

income

ThUS$

Ajay North America

21,771

15,096

4,421

—

47,375

5,718

—

5,718

Ajay Europe SARL

25,927

1,241

10,742

—

48,409

3,705

(34)

3,671

Total

47,698

16,337

15,163

—

95,784

9,423

(34)

9,389


	As of December 31, 2020				For the year ended December 31, 2020
	Assets		Liabilities				Other
							comprehensive	Comprehensive
Associate	Current	Non-current	Current	Non-current	Revenue	Net income (loss)	income	income
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
Abu Dhabi Fertilizer Industries WWL	29,313	8,586	6,706	101	6,641	(420)	—	(420)
Ajay North America	18,513	15,749	4,737	—	42,920	4,471	—	4,471
Ajay Europe SARL	22,032	1,493	7,773	—	41,950	2,058	1,736	3,794
Kore Potash PLC	5,691	124,112	786	—	—	(3,233)	486	(2,747)
Total	75,549	149,940	20,002	101	91,511	2,876	2,222	5,098

7.3Disclosures regarding interests in associates

(a)

Transactions for the year ended December 31, 2022:

●

During February 2022, the Company received dividends of ThUS$ 3,000 from Abu Dhabi Fertilizer Industries WWL which triggered a income of ThUS$ 523 recorded in the line item other (losses), corresponding to the excess over the account receivable recognized in December 2021.

(b)

Transactions for the year ended December 31, 2021:

●

During the first quarter 2021, Kore Potash PLC made a share payment to its non-executive board members (remuneration shares) plus certain employees and former employees (performance shares) which resulted in a 0.05% share reduction for the company, leaving it with 20.15%. During the second quarter of 2021, Kore Potash PLC approved a capital stock increase of ThUS$ 13,931 through the issuance of common shares, which resulted

in a dilution of 5.5% of SQM shares in the company, with an impact of ThUS$ (5,778) on other gains (losses). As a result of the dilution, the Company considered that there has been a loss of significant influence on the investment, discontinued its measurement through the equity method, and recognized an amount of ThUS$ 3,739 under other gains (losses) related to items recognized in other comprehensive income associated with this investment. See Note 12.1 for more details.

●

As of December 31, 2021, the Company received dividends from Abu Dhabi Fertilizer Industries WWL of ThUS$ 9,438 and recognized an account receivable for ThUS$ 2,477 in dividends receivable.

●

On June 30, 2021, the Company made an assessment of the recovery of the investment in Abu Dhabi Fertilizer Industries WWL and recognized an impairment of ThUS$ 2,800 in other gains (losses). This impairment was reversed in the second half of the year the recoverable value amount of the investment later increased.

(c)

Transactions for the year ended December 31, 2020:

●

Kore Potash PLC made a share payment to its non-executive board members, which resulted in a 0.60% share reduction for the company, finalizing with a share percentage of 19.07% at the close of the second quarter of 2020. This resulted in a transfer in equity of non-controlling interest to other reserves in an amount of ThUS$ 754.

●

In the third quarter of 2020 SQM S.A. increased its shares in Kore Potash PLC to 20.26% as a result of the acquisition of 260,598,591 shares out of 584,753,846 shares issued for a capital increase corresponding to ThUS$ 1,679.

●

In the third quarter of 2020, shares held in Doktor Tarsa Tarim and its subsidiaries were sold through Soquimich European Holdings B.V. at a value of ThUS$ 33,066, which brought about a loss of ThUS$ 11,408.

●

In the third quarter of 2020, shares held in SQM Eastmed Turkey were sold through Soquimich European Holdings B.V. at a value of ThUS$ 618, which brought about a loss of ThUS$ 408.

●

During the fourth quarter of 2020, SQM Holland (subsidiary) acquired the business of WSNPK from Plantacote N.V. (subsidiary of Doktor Tarsa Tarim Sanayi AS) for ThUS$ 16,757, which generated goodwill of ThUS$ 7,380. See Note 14.

●

During the fourth quarter of 2020, Kore Potash PLC made a share-based payment to its non-executive board members, which resulted in a 0.06% share reduction for the company, finalizing with a share percentage of 20.20%. This resulted in a decrease in consolidated equity of non-controlling interests in other reserves of ThUS$ 79.

Financial instruments - Payments Made on Series H Bonds (Details) - Series H bonds - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Principal payment
Financial instruments [Line Items]
Repayments of bonds, notes and debentures	$ 5,241	$ 6,661	$ 6,601
CCS Coverage
Financial instruments [Line Items]
Repayments of bonds, notes and debentures	$ 2,126	$ 1,598	$ 2,575

Employee benefits (Tables)

12 Months Ended

Dec. 31, 2022

Employee benefits

Schedule of provision for employee benefits


	As of	As of
	December 31,	December 31,
Classes of benefits and expenses by employee	2022	2021
	ThUS$	ThUS$
Current
Profit sharing and bonuses	2,270	1,383
Performance bonus and operational	33,106	25,392
Total	35,376	26,775
Non-current
Profit sharing and bonuses	8,973	—
Severance indemnity payments	34,899	27,099
Total	43,872	27,099

Schedule of post employment benefit obligations


	As of	As of	As of
	December 31,	December 31,	December 31,
Reconciliation Changes in the benefit obligation	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Opening balance	9,550	9,864	9,586
Current cost of service	—	—	—
Interest cost	255	240	280
Actuarial gains loss	(1,357)	(135)	506
Settlement	(7,739)
Benefits paid	(430)	(419)	(508)
Total benefit obligation (A)	279	9,550	9,864


	As of	As of	As of
Reconciliation	December 31,	December 31,	December 31,
Changes in plan assets	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Fair value of plan assets at the start of the year	13,497	12,888	8,754
Real return (loss) in the plan assets	(346)	1,028	4,642
Benefits paid	(430)	(419)	(508)
Settlement	(7,739)	—	—
Fair value of plan assets at the end of the year	4,982	13,497	12,888
Non-current-assets	4,703	3,947	3,025
Elements not yet recognized as components of the cost of periodic net pensions:
Net actuarial loss at the beginning of the year	1,039	192	(3,634)
Amortization during the year	—	—	326
Settlement	(1,627)	—	—
Gain	647	847	3,500
Adjustment to recognize the minimum pension obligation	59	1,039	192


	For the	For the	For the
	year ended	year ended	year ended
Cost of service or benefits received during the year	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Financial cost	255	240	280
Real loss in plan assets	(363)	(316)	(637)
Settlement	(1,627)	—	—
Amortization of prior year losses	—	—	326
Net periodic pension expenses	(1,735)	(76)	(31)

Schedule of staff severance indemnities

As of December 31, 2022, and 2021, severance indemnities calculated at the actuarial value are as follows:


	As of	As of	As of
	December 31,	December 31,	December 31,
Staff severance indemnities	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Opening balance	(27,099)	(32,199)	(27,814)
Current cost of service	(4,204)	(4,978)	(3,804)
Interest cost	(1,928)	(1,303)	(1,486)
Actuarial gain loss	(5,305)	3,999	(2,826)
Exchange rate difference	551	4,971	(1,513)
Benefits paid during the year	3,086	2,411	5,244
Total	(34,899)	(27,099)	(32,199)

Schedule of employee Actuarial assumption rate

The liability recorded for staff severance indemnity is valued at the actuarial value method, using the following actuarial assumptions:


	As of		As of		As of
	December 31,		December 31,		December 31,
Actuarial assumptions	2022		2021		2020		Annual/Years
Mortality rate	RV - 2014		RV - 2014		RV - 2014
Actual annual interest rate	5.12	%	5.67	%	3.65	%
Voluntary retirement rate:
Men	6.49	%	6.49	%	6.49	%	Annual
Women	6.49	%	6.49	%	6.49	%	Annual
Salary increase	3.00	%	3.00	%	3.00	%	Annual
Retirement age:
Men	65		65		65		Years
Women	60		60		60		Years

Schedule of sensitivity analysis of assumptions

As of December 31, 2022, 2021 and 2020, the Company has conducted a sensitivity analysis of the main assumptions of the actuarial calculation, determining the following:


	Effect + 100 basis	Effect - 100 basis
Sensitivity analysis as of December 31, 2022	points	points
	ThUS$	ThUS$
Discount rate	(2,090)	2,352
Employee turnover rate	(274)	307


	Effect + 100 basis	Effect - 100 basis
Sensitivity analysis as of December 31, 2021	points	points
	ThUS$	ThUS$
Discount rate	(1,614)	1,817
Employee turnover rate	(212)	237


	Effect + 100 basis	Effect - 100 basis
Sensitivity analysis as of December 31, 2020	points	points
	ThUS$	ThUS$
Discount rate	(1,985)	2,234
Employee turnover rate	(261)	291

Disclosures on equity - Shares Issued by Class (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of Disclosures on equity [Line Items]
Capital amount in shares	$ 1,577,643	$ 1,577,643
Series A preferred shares
Disclosure of Disclosures on equity [Line Items]
Number of authorized shares	142,819,552	142,819,552	142,819,552
Number of fully subscribed and paid shares	142,819,552	142,819,552	142,819,552
Number of outstanding shares	142,818,904	142,818,904	142,819,552
Number of shares owned by the Company or its subsidiaries or associates	648	648
Capital amount in shares	$ 134,750	$ 134,750	$ 134,750
Total number of subscribed shares	142,819,552	142,819,552	142,819,552
Series B preferred shares
Disclosure of Disclosures on equity [Line Items]
Number of authorized shares	142,818,904	142,818,904	120,376,972
Number of fully subscribed and paid shares	142,818,904	142,818,904	120,376,972
Number of outstanding shares	142,818,904	142,818,904	120,376,972
Capital amount in shares	$ 1,442,893	$ 1,442,893	$ 342,636
Total number of subscribed shares	142,818,904	142,818,904	120,376,972

Disclosures on the effects of fluctuations in foreign currency exchange rates (Tables)

12 Months Ended

Dec. 31, 2022

Disclosures on the effects of fluctuations in foreign currency exchange rates

Schedule of assets held in foreign currency subject to fluctuations in exchange rates


		As of	As of
		December 31,	December 31,
Class of Asset	Currency	2022	2021
		ThUS$	ThUS$
Cash and cash equivalents	USD	1,637,507	1,377,983
Cash and cash equivalents	CLP	806,106	4,416
Cash and cash equivalents	CNY	92,394	30,102
Cash and cash equivalents	EUR	14,963	14,374
Cash and cash equivalents	GBP	1	1
Cash and cash equivalents	AUD	89,602	72,107
Cash and cash equivalents	INR	—	—
Cash and cash equivalents	MXN	1,406	1,827
Cash and cash equivalents	PEN	—	6
Cash and cash equivalents	AED	2	1
Cash and cash equivalents	JPY	686	1,182
Cash and cash equivalents	ZAR	11,647	13,048
Cash and cash equivalents	KRW	918	—
Cash and cash equivalents	IDR	3	3
Cash and cash equivalents	PLN	1	1
Subtotal cash and cash equivalents		2,655,236	1,515,051
Other current financial assets	USD	722,165	668,360
Other current financial assets	BRL	39	48
Other current financial assets	CLP	239,151	250,641
Subtotal other current financial assets		961,355	919,049
Other current non-financial assets	USD	35,237	18,486
Other current non-financial assets	AUD	9,516	11,066
Other current non-financial assets	CLF	259	150
Other current non-financial assets	CLP	85,608	27,536
Other current non-financial assets	CNY	56,404	5,213
Other current non-financial assets	EUR	1,046	1,050
Other current non-financial assets	COP	217	153
Other current non-financial assets	MXN	4,685	6,092
Other current non-financial assets	THB	2	8
Other current non-financial assets	JPY	158	73
Other current non-financial assets	ZAR	3,203	42
Other current non-financial assets	SEK	—	1
Subtotal other non-financial current assets		196,335	69,870
Trade and other receivables	USD	788,596	400,753
Trade and other receivables	PEN	—	—
Trade and other receivables	BRL	22	21
Trade and other receivables	CLF	550	459
Trade and other receivables	CLP	58,412	43,496
Trade and other receivables	CNY	161,492	108,822
Trade and other receivables	EUR	36,318	35,514
Trade and other receivables	GBP	76	46
Trade and other receivables	MXN	889	237
Trade and other receivables	AED	3,116	1,888
Trade and other receivables	JPY	129	36,000
Trade and other receivables	AUD	1,708	1,214
Trade and other receivables	ZAR	33,361	23,568
Trade and other receivables	COP	2,751	2,055
Subtotal trade and other receivables		1,087,420	654,073
Receivables from related parties	USD	79,331	83,088
Receivables from related parties	EUR	1,250	1,150
Receivables from related parties	AUD	1,041	1,914
Subtotal receivables from related parties		81,622	86,152


		As of	As of
		December 31,	December 31,
Class of assets	Currency	2022	2021
		ThUS$	ThUS$
Current inventories	USD	1,784,281	1,183,776
Subtotal Current Inventories		1,784,281	1,183,776
Current tax assets	USD	127,068	154,709
Current tax assets	BRL	1	1
Current tax assets	CLP	2,125	1,727
Current tax assets	EUR	14,042	171
Current tax assets	MXN	59	31
Current tax assets	PEN	—	3
Current tax assets	JPY	77,397	3
Current tax assets	ZAR	28	13
Current tax assets	COP	1,481	887
Current tax assets	KRW	2,713	—
Subtotal current tax assets		224,914	157,545
Non-current assets or groups of assets classified as held for sale	USD	346	582
Subtotal Non-current assets or groups of assets classified as held for sale		346	582
Total current assets		6,991,509	4,586,098
Other non-current financial assets	USD	32,126	9,268
Subtotal Other non-current financial assets		32,126	9,268
Other non-current non-financial assets	USD	52,396	33,487
Subtotal Other non-current non-financial assets		52,396	33,487
Other receivables, non-current	USD	713	5,239
Other receivables, non-current	CLF	77	86
Other receivables, non-current	MXN	88	26
Other receivables, non-current	CLP	1,213	821
Subtotal Other receivables, non-current		2,091	6,172
Investments classified using the equity method of accounting	USD	22,959	20,526
Investments classified using the equity method of accounting	AED	19,597	7,879
Investments classified using the equity method of accounting	EUR	11,830	11,419
Subtotal Investments classified using the equity method of accounting		54,386	39,824
Intangible assets other than goodwill	USD	166,336	179,658
Subtotal intangible assets other than goodwill		166,336	179,658
Purchases goodwill, gross	USD	967	34,596
Subtotal Purchases goodwill, gross		967	34,596
Property, plant and equipment	USD	2,726,838	2,012,225
Subtotal property, plant and equipment		2,726,838	2,012,225
Right-of-use assets	USD	60,867	52,608
Subtotal Right-of-use assets		60,867	52,608
Non-current tax assets	USD	127,114	90,364
Subtotal non-current tax assets		127,114	90,364
Deferred tax assets	USD	604,471	135,904
Subtotal Deferred tax assets		604,471	135,904
Total non-current assets		3,827,592	2,594,106
Total assets		10,819,101	7,180,204

Schedule of liabilities held in foreign currencies


		As of December 31, 2022			As of December 31, 2021
			More than 90			More than 90
Class of liability	Currency	Up to 90 days	days to 1 year	Total	Up to 90 days	days to 1 year	Total
		ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
Current liabilities
Other current financial liabilities	USD	120,652	381,922	502,574	28,519	4,234	32,753
Other current financial liabilities	CLF	20,094	331	20,425	18,259	293	18,552
Subtotal other current financial liabilities		140,746	382,253	522,999	46,778	4,527	51,305
Lease liabilities, current	USD	—	6,549	6,549	—	4,625	4,625
Lease liabilities, current	CLF	—	2,331	2,331	—	2,263	2,263
Lease liabilities, current	MXN	—	436	436	—	434	434
Lease liabilities, current	EUR	—	387	387	—	382	382
Lease liabilities, current	AUD	—	2,446	2,446	—	—	—
Subtotal Lease liabilities, current		—	12,149	12,149	—	7,704	7,704
Trade and other payables	USD	121,260	110	121,370	98,918	76	98,994
Trade and other payables	CLF	2,618	—	2,618	1,330	—	1,330
Trade and other payables	BRL	10	—	10	5	—	5
Trade and other payables	THB	4	—	4	2	—	2
Trade and other payables	CLP	162,470	—	162,470	115,504	—	115,504
Trade and other payables	CNY	4,757	—	4,757	3,198	—	3,198
Trade and other payables	EUR	56,118	564	56,682	41,242	984	42,226
Trade and other payables	GBP	18	—	18	18	—	18
Trade and other payables	INR	—	—	—	1	—	1
Trade and other payables	MXN	802	—	802	881	—	881
Trade and other payables	PEN	—	—	—	1	—	1
Trade and other payables	AUD	24,394	—	24,394	15,876	—	15,876
Trade and other payables	ZAR	1,256	—	1,256	1,288	—	1,288
Trade and other payables	AED	72	—	72	—	—	—
Trade and other payables	JPY	—	—	—	99	—	99
Trade and other payables	CHF	32	—	32	—	—	—
Trade and other payables	COP	115	—	115	227	—	227
Trade and other payables	KRW	189	—	189	—	—	—
Subtotal trade and other payables		374,115	674	374,789	278,590	1,060	279,650
Other current provisions	USD	1,300,878	2,051	1,302,929	54,134	263,332	317,466
Other current provisions	CLP	—	217	217	200	—	200
Subtotal other current provisions		1,300,878	2,268	1,303,146	54,334	263,332	317,666


		As of December 31, 2022			As of December 31, 2021
Class of liability	Currency	Up to90 days	91 days to 1 year	Total	Up to90 days	91 days to 1 year	Total
		ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$

Current tax liabilities	USD	—	348,658	348,658	—	149,997	149,997
Current tax liabilities	CLP	—	999	999	—	12	12
Current tax liabilities	EUR	—	1,386	1,386	—	5,547	5,547
Current tax liabilities	MXN	—	5,568	5,568	—	1,841	1,841
Current tax liabilities	CNY	—	—	—	—	9,538	9,538
Subtotal current tax liabilities		—	356,611	356,611	—	166,935	166,935
Provisions for employee benefits, current	USD	25,867	8,631	34,498	14,341	11,776	26,117
Provisions for employee benefits, current	AUD	390	—	390	—	272	272
Provisions for employee benefits, current	EUR	385	—	385	214	—	214
Provisions for employee benefits, current	MXN	103	—	103	172	—	172
Subtotal Provisions for employee benefits, current		26,745	8,631	35,376	14,727	12,048	26,775
Other current non-financial liabilities	USD	393,401	98	393,499	99,643	8,593	108,236
Other current non-financial liabilities	BRL	1	—	1	1	—	1
Other current non-financial liabilities	CLP	8,281	39,456	47,737	6,342	2,941	9,283
Other current non-financial liabilities	CNY	92	—	92	20,736	—	20,736
Other current non-financial liabilities	EUR	1,564	250	1,814	1,281	423	1,704
Other current non-financial liabilities	MXN	725	14	739	562	—	562
Other current non-financial liabilities	JPY	47	—	47	32	—	32
Other current non-financial liabilities	PEN	—	—	—	70	—	70
Other current non-financial liabilities	COP	250	—	250	—	157	157
Other current non-financial liabilities	ARS	26	—	26	47	—	47
Other current non-financial liabilities	ZAR	—	1	1	846	—	846
Other current non-financial liabilities	KRW	2,271	—	2,271	—	—	—
Subtotal other current non-financial liabilities		406,658	39,819	446,477	129,560	12,114	141,674
Total current liabilities		2,249,142	802,405	3,051,547	523,989	467,720	991,709


		As of December 31, 2022
		Over 1 year to 2	Over 2 years to 3	Over 3 years to 4	Over 4 years to 5
Class of liability	Currency	years	years	years	years	Over 5 years	Total
		ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
Non-current liabilities
Other non-current financial liabilities	USD	—	197,521	249,531	—	1,544,654	1,991,706
Other non-current financial liabilities	CLF	—	—	—	—	402,512	402,512
Subtotal Other non-current financial liabilities		—	197,521	249,531	—	1,947,166	2,394,218
Non-current lease liabilities	USD	—	13,566	—	22,500	—	36,066
Non-current lease liabilities	CLP	—	—	—	23	—	23
Non-current lease liabilities	CLF	—	—	—	10,982	—	10,982
Non-current lease liabilities	MXN	—	—	—	1,094	—	1,094
Non-current lease liabilities	EUR	—	—	—	1,420	—	1,420
Subtotal non-current lease liabilities		—	13,566	—	36,019	—	49,585
Non-current Trade and other payables	USD	—	—	—	—	—	—
Subtotal Non-current Trade and other payables		—	—	—	—	—	—
Other non-current provisions	USD	—	3,648	—	26,200	28,205	58,053
Subtotal Other non-current provisions		—	3,648	—	26,200	28,205	58,053
Deferred tax liabilities	USD	—	289,825	—	—	—	289,825
Subtotal Deferred tax liabilities		—	289,825	—	—	—	289,825
Provisions for employee benefits, non-current	USD	34,326	—	—	—	9,006	43,332
Provisions for employee benefits, non-current	CLP	540	—	—	—	—	540
Subtotal Provisions for employee benefits, non-current		34,866	—	—	—	9,006	43,872
Total non-current liabilities		34,866	504,560	249,531	62,219	1,984,377	2,835,553
Total liabilities							5,887,100


	As of December 31, 2021
		Over 1 year to 2	Over 2 years to 3	Over 3 years to 4	Over 4 years to 5
Class of liability	Currency	years	years	years	years	Over 5 years	Total
		ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
Non-current liabilities
Other non-current financial liabilities	USD	369,446	72,900	249,097	—	1,523,473	2,214,916
Other non-current financial liabilities	CLF	—	—	—	—	372,816	372,816
Subtotal Other non-current financial liabilities		369,446	72,900	249,097	—	1,896,289	2,587,732
Non-current lease liabilities	USD	—	6,695	—	23,174	—	29,869
Non-current lease liabilities	CLF	—	—	—	13,313	—	13,313
Non-current lease liabilities	MXN	—	—	—	1,530	—	1,530
Non-current lease liabilities	JPY	—	—	—	1,807	—	1,807
Subtotal non-current lease liabilities		—	6,695	—	39,824	—	46,519
Non-current Trade and other payables	USD	—	3,813	—	—	—	3,813
Subtotal Non-current Trade and other payables		—	3,813	—	—	—	3,813
Other non-current provisions	USD	—	4,257	—	31,017	25,764	61,038
Subtotal Other non-current provisions		—	4,257	—	31,017	25,764	61,038
Deferred tax liabilities	USD	—	136,823	—	—	109,497	246,320
Subtotal Deferred tax liabilities		—	136,823	—	—	109,497	246,320
Provisions for employee benefits, non-current	USD	26,710	—	—	—	—	26,710
Provisions for employee benefits, non-current	CLP	389	—	—	—	—	389
Subtotal Provisions for employee benefits, non-current		27,099	—	—	—	—	27,099
Total non-current liabilities		396,545	224,488	249,097	70,841	2,031,550	2,972,521
Total liabilities							3,964,230

Schedule of exchange rate changes on the statement of income explanatory


	For the period from January to December of the year
Foreign currency exchange rate changes	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Foreign currency loss	(25,400)	(17,241)	(4,423)
Foreign currency translation reserve	(255)	4,240	14,000
Total	(25,655)	(13,001)	9,577

Financial instruments - Trade and Other Receivables Reconciliation (Details) ¥ in Millions	3 Months Ended		12 Months Ended
	Sep. 30, 2022 USD ($)	Sep. 30, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Financial instruments [Line Items]
Gross receivables			$ 1,098,326,000	$ 674,244,000
Impairment provision for doubtful receivables			(8,815,000)	(13,999,000)
Trade receivables, net			1,089,511,000	660,245,000
Guarantee Deposits [abstract]
Payments to acquire new plant			905,247,000	464,718,000	$ 322,242,000
Battery-Grade Lithium Hydroxide Monohydrate Plant
Guarantee Deposits [abstract]
Number of Metric tons capacity	20,000
Payments to acquire new plant	$ 125,591,000	¥ 869.0
Battery-Grade Lithium Hydroxide Monohydrate Plant \| First installment
Guarantee Deposits [abstract]
Payments to acquire new plant	29,322,000	204.5
Battery-Grade Lithium Hydroxide Monohydrate Plant \| Second installment
Guarantee Deposits [abstract]
Payments to acquire new plant	$ 8,310,000	¥ 57.5
Receivables related to credit operations, current
Financial instruments [Line Items]
Gross receivables			1,006,982,000	600,664,000
Impairment provision for doubtful receivables			(4,759,000)	(10,352,000)
Trade receivables, net			1,002,223,000	590,312,000
Prepayments, current
Financial instruments [Line Items]
Gross receivables			39,493,000	49,952,000
Impairment provision for doubtful receivables			(784,000)	(784,000)
Trade receivables, net			38,709,000	49,168,000
Other receivables, current
Financial instruments [Line Items]
Gross receivables			19,920,000	17,073,000
Impairment provision for doubtful receivables			(3,272,000)	(2,863,000)
Trade receivables, net			16,648,000	14,210,000
Guarantee deposits
Financial instruments [Line Items]
Gross receivables			29,840,000	383,000
Impairment provision for doubtful receivables			0	0
Trade receivables, net			29,840,000	383,000
Other receivables, non-current
Financial instruments [Line Items]
Gross receivables			2,091,000	6,172,000
Impairment provision for doubtful receivables			0	0
Trade receivables, net			$ 2,091,000	$ 6,172,000

Right-of-use assets and Lease liabilities - Details of Current and Non-Current Lease Liabilities (Details)	Dec. 31, 2022
SQM Salar S.A. \| Empresa Constructora Contex Ltda
Disclosure of quantitative information about right-of-use assets [line items]
Effective rate	5.39%
SQM Salar S.A. \| Maquinaria Astudillo y Hermanos Ltda.
Disclosure of quantitative information about right-of-use assets [line items]
Effective rate	2.89%
SQM Salar S.A. \| Obras y Servicios para la Industria y Mineria S.A.
Disclosure of quantitative information about right-of-use assets [line items]
Effective rate	2.61%
SQM Salar S.A. \| Sociedad Comercial Grandleasing Chile Ltda
Disclosure of quantitative information about right-of-use assets [line items]
Effective rate	0.00%
SQM Salar S.A. \| Sociedad Inmobiliaria Amaru SpA
Disclosure of quantitative information about right-of-use assets [line items]
Effective rate	2.00%
SQM Salar S.A. \| Inversiones y Gestin New Energy SpA
Disclosure of quantitative information about right-of-use assets [line items]
Effective rate	0.00%
SQM Salar S.A. \| Tatersall Maquinarias S.A.
Disclosure of quantitative information about right-of-use assets [line items]
Effective rate	2.90%
SQM Salar S.A. \| Maquinaria Astudillo y Hermanos Ltda.
Disclosure of quantitative information about right-of-use assets [line items]
Effective rate	3.26%
SQM Salar S.A. \| Jungheinrich Rentalif SPA
Disclosure of quantitative information about right-of-use assets [line items]
Effective rate	2.90%
SQM Industrial S.A. \| Sociedad Comercial Grandleasing Chile Ltda
Disclosure of quantitative information about right-of-use assets [line items]
Effective rate	2.72%
SQM Industrial S.A. \| El Trovador S.A.
Disclosure of quantitative information about right-of-use assets [line items]
Effective rate	3.10%
SQM Industrial S.A. \| Jungheinrich Rentalif SPA
Disclosure of quantitative information about right-of-use assets [line items]
Effective rate	3.49%
SQM Industrial S.A. \| Tecno Fast S.A.
Disclosure of quantitative information about right-of-use assets [line items]
Effective rate	1.44%
SQM S.A. \| Jungheinrich Rentalif SPA
Disclosure of quantitative information about right-of-use assets [line items]
Effective rate	3.49%
Soquimich Comercial S.A. \| Containers Operators S.A.
Disclosure of quantitative information about right-of-use assets [line items]
Effective rate	0.81%
Soquimich Comercial S.A. \| SAAM Logistics S.A.
Disclosure of quantitative information about right-of-use assets [line items]
Effective rate	0.81%
Soquimich Comercial S.A. \| Muelles de Penco S.A.
Disclosure of quantitative information about right-of-use assets [line items]
Effective rate	4.11%
Soquimich Comercial S.A. \| Muelles de Penco S.A. one
Disclosure of quantitative information about right-of-use assets [line items]
Effective rate	1.30%
Soquimich Comercial S.A. \| Inmobiliaria Chincui SPA
Disclosure of quantitative information about right-of-use assets [line items]
Effective rate	3.38%
Soquimich Comercial S.A. \| Compaa de Leasing Tattersall S.A.
Disclosure of quantitative information about right-of-use assets [line items]
Effective rate	2.97%
Orcoma Estudios SPA \| Obispado de Iquique
Disclosure of quantitative information about right-of-use assets [line items]
Effective rate	6.16%
Orcoma Estudios SPA \| Comunidad Indgena Aymara Pueblo de Pisiga Choque
Disclosure of quantitative information about right-of-use assets [line items]
Effective rate	2.53%
Orcoma Estudios SPA \| Ruth del Carmen Cortez Maturana
Disclosure of quantitative information about right-of-use assets [line items]
Effective rate	7.44%
SQM North America Corp. \| Paces West LL.
Disclosure of quantitative information about right-of-use assets [line items]
Effective rate	3.36%
SQM North America Corp. \| Hawkins Nunmber One, LLC
Disclosure of quantitative information about right-of-use assets [line items]
Effective rate	3.33%
SQM North America Corp. \| Deep South Equipment Company
Disclosure of quantitative information about right-of-use assets [line items]
Effective rate	1.33%
SQM North America Corp. \| Tennant-South
Disclosure of quantitative information about right-of-use assets [line items]
Effective rate	1.00%
SQM North America Corp. \| Deacon Jones CDJR
Disclosure of quantitative information about right-of-use assets [line items]
Effective rate	2.81%
SQM North America Corp. \| Mt Mullahey Inc. Mullahey Chrysler Dodge
Disclosure of quantitative information about right-of-use assets [line items]
Effective rate	2.81%
SQM North America Corp. \| Berwyn Partners Inc.
Disclosure of quantitative information about right-of-use assets [line items]
Effective rate	1.34%
SQM North America Corp. \| Myers Ford Co Inc.
Disclosure of quantitative information about right-of-use assets [line items]
Effective rate	1.51%
SQM North America Corp. \| Ford Motor Credit Company
Disclosure of quantitative information about right-of-use assets [line items]
Effective rate	4.19%
SQM North America Corp. \| Porter and Howard INC.
Disclosure of quantitative information about right-of-use assets [line items]
Effective rate	5.64%
SQM North America Corp. \| Hanford Chrysler Dodge Jeep
Disclosure of quantitative information about right-of-use assets [line items]
Effective rate	4.44%
SQM Comercial de Mexico S.A. de C.V. \| Onni Ensenada S.A. de C.V.
Disclosure of quantitative information about right-of-use assets [line items]
Effective rate	3.45%
SQM Comercial de Mexico S.A. de C.V. \| Madol Inmobiliaria S.A. de C.V.
Disclosure of quantitative information about right-of-use assets [line items]
Effective rate	7.84%
SQM Europe NV \| Straatsburgdok N.V.
Disclosure of quantitative information about right-of-use assets [line items]
Effective rate	1.30%
SQM Australia PTY \| The trust Company (Australia) Pty Ltd
Disclosure of quantitative information about right-of-use assets [line items]
Effective rate	3.60%
SQM Australia PTY \| Eagle Petroleum (WA) Pty Ltd
Disclosure of quantitative information about right-of-use assets [line items]
Effective rate	5.00%
SQM Australia PTY \| Ausco Modular Pty Limited
Disclosure of quantitative information about right-of-use assets [line items]
Effective rate	5.00%
SQM Australia PTY \| Western Australian Land Authority
Disclosure of quantitative information about right-of-use assets [line items]
Effective rate	3.55%
SQM Australia PTY \| Mining Thiess Pty Ltd.
Disclosure of quantitative information about right-of-use assets [line items]
Effective rate	3.55%
SQM Colombia S.A.S. \| Mareauto Colombia S.A.S.
Disclosure of quantitative information about right-of-use assets [line items]
Effective rate	2.01%
SQM Colombia S.A.S. \| Renting Colombia S.A.
Disclosure of quantitative information about right-of-use assets [line items]
Effective rate	2.72%
SQM Colombia S.A.S. \| Renting Colombia S.A.
Disclosure of quantitative information about right-of-use assets [line items]
Effective rate	2.17%
SQM Africa Pty \| Goscor Finance (Pty) Ltd
Disclosure of quantitative information about right-of-use assets [line items]
Effective rate	8.51%
SQM Nitratos S.A. \| Jungheinrich Rentalif SPA
Disclosure of quantitative information about right-of-use assets [line items]
Effective rate	3.49%

Right-of-use assets and Lease liabilities - Current and Non-Current Lease Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Right-of-use assets and Lease liabilities
Current lease liabilities	$ 12,149	$ 7,704
Non-current lease liabilities	$ 49,585	$ 46,519

Intangible assets and goodwill

12 Months Ended

Dec. 31, 2022

Intangible assets and goodwill.

Intangible assets and goodwill

Note 14 Intangible assets and goodwill

14.1Reconciliation of changes in intangible assets and goodwill


As of December 31, 2022
Intangible assets and goodwill	Useful life	Net Value
		ThUS$
IT programs	Finite	3,249
Mining rights	Finite	140,873
Water rights and rights of way	Indefinite	4,909
Water rights	Finite	11,369
Intellectual property	Finite	5,850
Other intangible assets	Finite	86
Intangible assets other than goodwill		166,336
Goodwill	Indefinite	967
Total Intangible Asset		167,303


As of December 31, 2021
Intangible assets and goodwill	Useful life	Net Value
		ThUS$
IT programs	Finite	3,447
Mining rights	Finite	149,532
Water rights and rights of way	Indefinite	4,909
Water rights	Finite	15,158
Intellectual property	Finite	6,481
Other intangible assets	Finite	131
Intangible assets other than goodwill		179,658
Goodwill	Indefinite	34,596
Total Intangible Asset		214,254

a)	Movements in identifiable intangible assets as of December 31, 2022:


			Water rights,		Customer-
Movements in identifiable intangible assets		Mining rights,	and rights of	Water rights	related	Intellectual	Other intangible
	IT programs	Finite	way, Indefinite	Finite	intangible assets	property	assets	Goodwill	Total
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
As of January 1, 2022	3,447	149,532	4,909	15,158	—	6,481	131	34,596	214,254
Additions	349	1,141	—	—	—	—	14	—	1,504
Amortization for the year	(1,039)	(8,482)	—	(3,789)	—	(476)	(59)	—	(13,845)
Impairment losses recognized in profit or loss for the year (2)	—	(1,228)	—	—	—	—	—	(33,629)	(34,857)
Other increases / decreases for foreign currency exchange rates	(4)	—	—	—	—	(155)	—	—	(159)
Decreases through sale	—	—	—	—	—	—	—	—	—
Transferred from available for sale	—	—	—	—	—	—	—	—	—
Other increases (decreases)	496	(90)	—	—	—	—	—	—	406
Subtotal	(198)	(8,659)	—	(3,789)	—	(631)	(45)	(33,629)	(46,951)
As of December 31,2022	3,249	140,873	4,909	11,369	—	5,850	86	967	167,303
Historical cost	36,457	162,716	7,420	18,000	1,778	7,215	2,291	4,501	240,378
Accumulated amortization	(33,208)	(21,843)	(2,511)	(6,631)	(1,778)	(1,365)	(2,205)	(3,534)	(73,075)
As of January 1, 2021	3,447	149,532	4,909	15,158	—	6,481	131	34,596	214,254
Additions	296	344	—	—	—	—	9	—	649
Amortization for the year	(1,716)	(2,863)	—	(2,842)	—	(889)	(64)	—	(8,374)
Impairment losses recognized in profit or loss for the year (1)	—	(48)	(430)	—	—	—	—	—	(478)
Other increases / decreases for foreign currency exchange rates	(17)	2,283	(4)	—	—	—	(6)	—	2,256
Decreases through sale	—	—	—	—	—	—	—	—	—
Transferred from available for sale	—	16	—	—	—	—	—	—	16
Other increases (decreases)	58	(246)	—	—	—	7,370	—	(7,370)	(188)
Subtotal	(1,379)	(514)	(434)	(2,842)	—	6,481	(61)	(7,370)	(6,119)
As of December 31,2021	3,447	149,532	4,909	15,158	—	6,481	131	34,596	214,254
Historical cost	35,616	162,893	7,420	18,000	1,778	7,370	2,277	38,130	273,484
Accumulated amortization	(32,169)	(13,361)	(2,511)	(2,842)	(1,778)	(889)	(2,146)	(3,534)	(59,230)

(1)	See Note 21.5

(2)

(b)	Movements in identifiable goodwill as of December 31, 2022 and 2021:


Accumulated impairment	Goodwill at the beginning	Additional	Impairment losses recognized in	Total increase	Ending balance as of december 31, 2022
Movements in identifiable goodwill	of period January 1, 2022	recognition	profit or loss for the year (-)	(decrease)
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
SQM S.A.	22,255	—	(22,255)	(22,255)	—
SQM Iberian S.A.	148	—	—	—	148
SQM Investment Corporation	86	—	—	—	86
Soquimich European Holding B.V.	11,383	—	(11,374)	(11,374)	9
SQM Potasio S.A.	724	—	—	—	724
Ending balance as of December 31,2022	34,596	—	(33,629)	(33,629)	967


Accumulated impairment	Goodwill at the beginning	Additional	Impairment losses recognized in	Total increase	Ending balance as of december 31, 2021
Movements in identifiable goodwill	of period January 1, 2021	recognition	profit or loss for the year (-)	(decrease)
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
SQM S.A.	22,255	—	—	—	22,255
SQM Iberian S.A.	148	—	—	—	148
SQM Investment Corporation	86	—	—	—	86
Soquimich European Holding B.V.	11,383	—	—	—	11,383
SQM Holland B.V. (*)	7,370	—	—	(7,370)	—
SQM Potasio S.A.	724	—	—	—	724
Ending balance as of December 31,2021	41,966	—	—	(7,370)	34,596

Basis of presentation for the consolidated financial statements - Revision of Deferred Tax (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2022
Disclosure of reclassifications or changes in presentation [line items]
Deferred tax assets	$ 135,904	$ 604,471
Deferred tax liabilities	246,320	$ 289,825
Reclassification	135,904
Original balance
Disclosure of reclassifications or changes in presentation [line items]
Deferred tax liabilities	110,416
Reclassified balance
Disclosure of reclassifications or changes in presentation [line items]
Deferred tax assets	135,904
Deferred tax liabilities	$ 246,320

Financial instruments (Tables)

12 Months Ended

Dec. 31, 2022

Financial instruments

Schedule of other current and non-current financial assets

12.1Types of other current and non-current financial assets


	As of	As of
	December 31,	December 31,
Description of other financial assets	2022	2021
	ThUS$	ThUS$
Financial assets at amortized cost (1)	950,167	905,170
Derivative financial instruments
- For hedging	7,014	12,625
- Non-hedging (2)	4,174	1,254
Total other current financial assets	961,355	919,049
Financial assets at fair value through other comprehensive income (4) (5)	9,497	8,932
Derivative financial instruments
- For hedging	22,606	245
Other financial assets at amortized cost	23	91
Total other non-current financial assets	32,126	9,268

Schedule of detailed information about other non-current financial assets

Schedule of trade and other receivables

12.2Trade and other receivables


	As of December 31, 2022			As of December 31, 2021
Trade and other receivables	Current	Non-current	Total	Current	Non-current	Total
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
Trade receivables, current	1,002,223	—	1,002,223	590,312	—	590,312
Prepayments, current	38,709	—	38,709	49,168	—	49,168
Other receivables, current	16,648	2,091	18,739	14,210	6,172	20,382
Guarantee deposits (1)	29,840	—	29,840	383	—	383
Total trade and other receivables	1,087,420	2,091	1,089,511	654,073	6,172	660,245

See discussion about credit risk in Note 4.2.


	As of December 31, 2022			As of December 31, 2021
		Impairment			Impairment
	Gross	provision for	Trade receivables,	Gross	provision for	Trade receivables,
Trade and other receivables	receivables	doubtful receivables	net	receivables	doubtful receivables	net
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
Receivables related to credit operations, current	1,006,982	(4,759)	1,002,223	600,664	(10,352)	590,312
Prepayments, current	39,493	(784)	38,709	49,952	(784)	49,168
Other receivables, current	19,920	(3,272)	16,648	17,073	(2,863)	14,210
Guarantee deposits (1)	29,840	—	29,840	383	—	383
Other receivables, non-current	2,091	—	2,091	6,172	—	6,172
Total trade and other receivables	1,098,326	(8,815)	1,089,511	674,244	(13,999)	660,245

Schedule of financial assets that are either past due or impaired


As of December 31, 2022
Portfolio analysis
	Number of customers with	Gross non-renegotiated	Number of customers with	Gross renegotiated
Past due segments	non-renegotiated portfolio	portfolio ThUS$	renegotiated portfolio	portfolio ThUS$
Current	997	967,853	12	276
1 - 30 days	149	30,116	4	71
31 - 60 days	25	1,352	2	105
61 - 90 days	2	2,632	3	704
91 - 120 days	10	235	—	—
121 - 150 days	1	84	—	—
151 - 180 days	2	180	1	7
181 - 210 days	4	67	2	27
211 - 250 days	7	192	3	54
>250 days	76	2,726	55	301
Total	1,273	1,005,437	82	1,545


As of December 31, 2021
Portfolio analysis
	non-renegotiated portfolio	Gross non-renegotiated	Number of customers with	Gross renegotiated
Past due segments	Number of customers with	portfolio ThUS$	renegotiated portfolio	portfolio ThUS$
Current	1,279	570,899	7	130
1 - 30 days	112	22,632	—	—
31 - 60 days	18	2,114	—	—
61 - 90 days	11	1,015	—	—
91 - 120 days	7	202	—	—
121 - 150 days	3	43	—	—
151 - 180 days	3	4	—	—
181 - 210 days	3	130	—	—
211 - 250 days	1	1	2	4
>250 days	80	2,597	117	893
Total	1,517	599,637	126	1,027

Schedule of impairment provision for doubtful receivables


As of December 31, 2022
	Trade accounts receivable days past due
												Trade receivables
												due from related
Trade and other receivables	Current		1 to 30 days		31 to 60 days		61 to 90 days		Over 90 days		Trade	parties
											ThUS$	ThUS$
Expected Loss Rate on	—	%	1	%	7	%	6	%	81	%	—	—
Total Gross Book Value	968,129		30,187		1,457		3,336		3,873		1,006,982	83,000
Impairment Estimate	948		391		108		186		3,126		4,759	1,378


As of December 31, 2021
	Trade accounts receivable days past due											Trade receivables
							61 to 90		Over 90			due from related
Trade and other receivables	Current		1 to 30 days		31 to 60 days		days		days		Trade	parties
											ThUS$	ThUS$
Expected Loss Rate on	1	%	8	%	32	%	34	%	71	%	—	—
Total Gross Book Value	571,029		22,633		2,113		1,015		3,874		600,664	86,869
Impairment Estimate	4,724		1,856		673		346		2,753		10,352	717

Schedule of movements in provisions

As of December 31, 2022, and 2021, movements in provisions are as follows:


	As of	As of
	December 31,	December 31,
Provisions	2022	2021
	ThUS$	ThUS$
Impairment provision of Accounts receivable at the beginning of the year	14,716	27,273
Increase (decrease) impairment of accounts receivable	(3,369)	235
Write-off of receivables	—	(11,091)
Difference in exchange rate	(1,154)	(1,701)
Impairment provision of Accounts Receivable Provision at the end of the year	10,193	14,716
(1) Trade and other Receivables Provision	4,759	10,352
(2) Current other Receivables Provision	4,056	3,647
(3) Trade receivables with related parties, current Provision	1,378	717
Recovery of Insurance	—	210

Impairment provision of Accounts Receivable	10,193	14,716
Renegotiated receivables	356	910
Non-renegotiated receivables	9,837	13,806

Schedule of derivative financial instruments classified as hedges


				Hedging Reserve in
As of December 31, 2022	Assets	Liabilities	Total Realized	Gross Equity (1)
Type of Instrument: Cross currency interest rate swaps UF/CLP
Cash flow hedge derivatives
Short term	7,014	42,754	—	—
Long term	15,467	19,772	—	—
Subtotal	22,481	62,526	(12,939)	(27,106)
Type of Instrument: Forwards
Non-hedging derivates disbursement SQM Australia Pty
Long term	7,139	—	—	7,139
Subtotal	7,139	—	—	7,139
Underlying Investments Hedge	29,620	62,526	(12,939)	(19,967)
Type of Instrument: Forwards/Options
Non-hedge derivates with effect on income
Short term	4,174	5,816	—	—
Underlying Investments Hedge	4,174	5,816	38,653	—
Total Instruments	33,794	68,342	25,714	(19,967)


				Hedging Reserve in
As of December 31, 2021	Assets	Liabilities	Total Realized	Gross Equity (1)
Type of Instrument: Cross currency interest rate swaps UF/CLP
Cash flow hedge derivatives
Short term	12,625	8,954	—	—
Long term	245	72,900	—	—
Underlying Debt Hedge	12,870	81,854	(22,455)	(46,529)
Type of Instrument: Forwards/Options
Non-hedge derivatives with effect on income
Short term	1,254	1,672	—	—
Underlying Investments Hedge	1,254	1,672	4,694	—
Total Instruments	14,124	83,526	(17,761)	(46,529)

Schedule of asset and liability hedging derivatives


Reconciliation of asset and	As of December	Cash Flow	Income Statement	Equity and Others	As of December
liability hedging derivatives	31, 2021				31, 2022
Hedge-to-debt derivatives	(81,597)	8,616	37,494	25,426	(10,061)
Hedging derivatives to investment	12,613	(52,698)	16,104	(6,003)	(29,984)
Non-hedging derivatives disbursement SQM Australia Pty	—	2,022	—	5,117	7,139
Non-hedging derivatives	(418)	(39,878)	38,653	—	(1,643)


Reconciliation of asset and	As of December	Cash Flow	Income Statement	Equity and Others	As of December
liability hedging derivatives	31, 2020				31, 2021
Hedge-to-debt derivatives	18,070	6,478	(52,254)	(53,891)	(81,597)
Hedging derivatives to investment	(21,004)	9,405	23,083	1,129	12,613
Non-hedging derivatives	(2,784)	(2,327)	4,693	—	(418)

Schedule of derivative contract maturities


Series	Contract amount	Currency	Maturity date
	ThUS$
H	105,828	UF	01/04/2023
O	58,748	UF	02/01/2030
P	134,228	UF	01/15/2028
Q	106,933	UF	06/01/2030

Schedule of financial liabilities

As of December 31, 2022 and 2021, the detail is as follows:


	As of December 31, 2022			As of December 31, 2021
Other current and non-current financial
liabilities	Currents	Non-Current	Total	Currents	Non-Current	Total
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
Liabilities at amortized cost
Bank borrowings	130,840	197,522	328,362	85	69,613	69,698
Unsecured obligations	343,589	2,176,924	2,520,513	40,594	2,445,219	2,485,813
Derivative financial instruments
For hedging	42,754	19,772	62,526	8,954	72,900	81,854
Non-Hedging	5,816	—	5,816	1,672	—	1,672
Total	522,999	2,394,218	2,917,217	51,305	2,587,732	2,639,037

Schedule of information about short-term bank borrowings

As of December 31, 2022, the detail of this caption is as follows:

Debtor

Payment of Creditor interest

Currency or

adjustment

Payment of

Tax ID No.

Company

Country

Tax ID No.

Financial institution

Country

index

Payment of interest

Repayment

Effective rate

Nominal rate

93.007.000-9

SQM S.A.

Chile

O-E

Scotiabank Cayman

USA

US$

Upon maturity

05/30/2023

0.97

5.22

93.007.000-9

SQM S.A.

Chile

97.023.000-9

Itaú

Chile

US$

Upon maturity

01/05/2023

4.50

93.007.000-9

SQM S.A.

Chile

97.030.000-7

Banco Estado

Chile

US$

Upon maturity

01/05/2023

4.59

Debtor

Creditor

Nominal amounts as of December 31, 2022

Current amounts as of December 31, 2022

90 days to 1

Borrowing

Company

Financial institution

Up to 90 days

90 days to 1 year

Total

Up to 90 days

year

Subtotal

costs

Total

ThUS$

SQM S.A.

Scotiabank Cayman

—

70,000

70,000

—

70,393

(149)

70,244

SQM S.A.

Itaú

20,000

—

20,000

20,062

SQM S.A.

Banco Estado

40,000

—

40,000

40,128

SQM S.A.

Scotiabank

—

406

Total

60,000

70,000

130,000

60,596

70,393

130,989

(149)

130,840

As of December 31,2021

Debtor

Creditor

Currency or

adjustment

Tax ID No

Company

Country

Tax ID No.

Financial institution

Country

index

Repayment

maturity

Effective rate

Nominal rate

93.007.000-9

SQM S.A.

Chile

O-E

Scotiabank Cayman

USA

US$

Upon maturity

05/31/2022

0.82

1.36

Debtor

Creditor

Nominal amounts as of December 31, 2021

Current amounts as of December 31, 2021

90 days to

90 days to 1

Borrowing

Up to 90 days

1 year

Total

Up to 90 days

year

Subtotal

costs

Total

Company

Financial institution

ThUS$

SQM S.A.

Scotiabank Cayman

—

Total

—

Schedule of current maturities of unsecured obligations

As of December 31, 2022, and 2021, the detail of current unsecured interest-bearing obligations is composed of promissory notes and bonds, as follows:



Debtor			Number of			Currency or	Periodicity
			registration or ID			adjustment	Payment of
Tax ID No.	Company	Country	of the instrument	Series	Maturity date	index	interest	Repayment	Effective rate		Nominal rate
93.007.000-9	SQM S.A.	Chile	—	MUS$250	01/28/2023	US$	Semiannual	Upon maturity	1.17	%	4.38	%
93.007.000-9	SQM S.A.	Chile	—	MUS$300	04/03/2023	US$	Semiannual	Upon maturity	0.56	%	3.63	%
93.007.000-9	SQM S.A.	Chile	—	MUS$450	05/07/2023	US$	Semiannual	Upon maturity	3.01	%	4.25	%
93.007.000-9	SQM S.A.	Chile	—	MUS$400	01/22/2023	US$	Semiannual	Upon maturity	3.79	%	4.25	%
93.007.000-9	SQM S.A.	Chile	—	MUS$700	03/10/2023	US$	Semiannual	Upon maturity	3.44	%	3.50	%
93.007.000-9	SQM S.A.	Chile	564	H	01/05/2023	UF	Semiannual	Semiannual	1.23	%	4.90	%
93.007.000-9	SQM S.A.	Chile	699	O	02/01/2023	UF	Semiannual	Upon maturity	1.89	%	3.80	%
93.007.000-9	SQM S.A.	Chile	563	P	01/15/2023	UF	Semiannual	Upon maturity	1.72	%	3.25	%
93.007.000-9	SQM S.A.	Chile	700	Q	06/01/2023	UF	Semiannual	Upon maturity	2.63	%	3.45	%

Effective rates of bonds in Pesos and UF are expressed and calculated in Dollars based on the flows agreed in Cross Currency Swap Agreements.


			Nominal amounts as of December 31, 2022			Carrying amounts of maturities as of December 31, 2022
			Up to 90	90 days to 1			90 days to 1		Borrowing
Company	Country	Series	days	year	Total	Up to 90 days	year	Subtotal	costs	Total
			ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
SQM S.A.	Chile	MUS$250	4,648	—	4,648	4,648	—	4,648	(433)	4,215
SQM S.A.	Chile	MUS$300	—	302,658	302,658	—	302,658	302,658	(170)	302,488
SQM S.A.	Chile	MUS$450	—	2,869	2,869	—	2,869	2,869	(679)	2,190
SQM S.A.	Chile	MUS$400	7,508	—	7,508	7,508	—	7,508	(237)	7,271
SQM S.A.	Chile	MUS$700	—	7,554	7,554	—	7,554	7,554	(555)	6,999
SQM S.A.	Chile	H	17,566	—	17,566	17,566	—	17,566	(172)	17,394
SQM S.A.	Chile	O	965	—	965	965	—	965	(82)	883
SQM S.A.	Chile	P	1,830	—	1,830	1,830	—	1,830	(12)	1,818
SQM S.A.	Chile	Q	—	351	351	—	351	351	(20)	331
Total			32,517	313,432	345,949	32,517	313,432	345,949	(2,360)	343,589



Debtor			Number of			Currency or	Periodicity
			registration or ID			adjustment	Payment of
Tax I No.	Company	Country	of the instrument	Series	Maturity date	index	interest	Repayment	Effective rate		Nominal rate
93.007.000-9	SQM S.A.	Chile	—	MUS$250	01/28/2022	US$	Semiannual	Upon maturity	1.56	%	4.38	%
93.007.000-9	SQM S.A.	Chile	—	MUS$300	04/03/2022	US$	Semiannual	Upon maturity	0.74	%	3.63	%
93.007.000-9	SQM S.A.	Chile	—	MUS$450	05/07/2022	US$	Semiannual	Upon maturity	3.23	%	4.25	%
93.007.000-9	SQM S.A.	Chile	—	MUS$400	01/22/2022	US$	Semiannual	Upon maturity	4.00	%	4.25	%
93.007.000-9	SQM S.A.	Chile	—	MUS$700	03/10/2022	US$	Semiannual	Upon maturity	3.62	%	3.50	%
93.007.000-9	SQM S.A.	Chile	564	H	01/05/2022	UF	Semiannual	Semiannual	1.75	%	4.90	%
93.007.000-9	SQM S.A.	Chile	699	O	02/15/2022	UF	Semiannual	Upon maturity	2.06	%	3.80	%
93.007.000-9	SQM S.A.	Chile	563	P	01/15/2022	UF	Semiannual	Upon maturity	2.04	%	3.25	%
93.007.000-9	SQM S.A.	Chile	700	Q	06/01/2022	UF	Semiannual	Upon maturity	2.72	%	3.45	%

Effective rates of bonds in Pesos and UF are expressed and calculated in Dollars based on the flows agreed in Cross Currency Swap Agreements.


			Nominal amounts as of December 31, 2021			Carrying amounts of maturities as of December 31, 2021
			Up to 90	90 days to 1			90 days to
Company	Country	Series	days	year	Total	Up to 90 days	1 year	Subtotal	Borrowing costs	Total
			ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
SQM S.A.	Chile	MUS$250	4,648	—	4,648	4,648	—	4,648	(433)	4,215
SQM S.A.	Chile	MUS$300	—	2,658	2,658	—	2,658	2,658	(614)	2,044
SQM S.A.	Chile	MUS$450	—	2,869	2,869	—	2,869	2,869	(679)	2,190
SQM S.A.	Chile	MUS$400	7,508	—	7,508	7,508	—	7,508	(237)	7,271
SQM S.A.	Chile	MUS$700	6,874	—	6,874	6,874	—	6,874	(552)	6,322
SQM S.A.	Chile	H	16,026	—	16,026	16,026	—	16,026	(172)	15,854
SQM S.A.	Chile	O	863	—	863	863	—	863	(82)	781
SQM S.A.	Chile	P	1,636	—	1,636	1,636	—	1,636	(12)	1,624
SQM S.A.	Chile	Q	—	314	314	—	314	314	(21)	293
Total			37,555	5,841	43,396	37,555	5,841	43,396	(2,802)	40,594

Schedule of non-current bank borrowings

The following table shows the details of bank loans as of December 31, 2022:

Debtor

Creditor

Currency or

Type of

Tax ID No.

Company

Country

Tax ID No.

Financial institution

Country

adjustment index

amortization

Effective rate

Nominal rate

93.007.000-9

SQM S.A.

Chile

O-E

Scotiabank Cayman

USA

US$

Upon Maturity

2.33

3.19

93.007.000-9

SQM S.A.

Chile

O-E

Scotiabank

Canadá

US$

Upon Maturity

5.10

6.08

Debtor

Creditor

Nominal non-current maturities as ofDecember 31, 2022

Carrying amounts of maturities as of December 31, 2022

Costs of

Between 2

Between 3

Between 1

Between 2

Between 3

obtaining

Company

Financial institution

Between 1 and 2

and 3

and 4

Total

and 2

and 3

and 4

Subtotal

loans

Total

ThUS$

SQM S.A.

Scotiabank Cayman

—

SQM S.A.

Scotiabank

—

200,000

—

200,000

—

200,000

—

200,000

(2,478)

197,522

Total

—

200,000

—

200,000

—

200,000

—

200,000

(2,478)

197,522

As of December 31, 2021

Debtor

Creditor

Currency or

Type of

Tax ID No.

Company

Country

Tax ID No.

Financial institution

Country

adjustment index

amortization

Effective rate

Nominal rate

93.007.000-9

SQM S.A.

Chile

O-E

Scotiabank Cayman

USA

US$

Maturity

2.05

1.36

Debtor

Creditor

Nominal non-current maturities as of December 31, 2021

Carrying amounts of maturities as of December 31, 2021

Costs of

Between 2

Between 3

Between 1

Between 2

Between 3

obtaining

Company

Financial institution

Between 1 and 2

and 3

and 4

Total

and 2

and 3

and 4

Subtotal

loans

Total

ThUS$

SQM S.A.

Scotiabank Cayman

—

70,000

—

70,000

—

70,000

—

70,000

(387)

69,613

Total

—

70,000

—

70,000

—

70,000

—

70,000

(387)

69,613

Schedule of information about non-current maturities of unsecured obligations

The following table shows the details of “unsecured debentures that accrue non-current interest” as of December 31, 2022:

Debtor

Number of

Periodicity

registration or ID of

Currency or

Payment of

Tax ID No.

Company

Country

the instrument

Series

Maturity date

adjustment index

interest

Repayment

Effective rate

Nominal rate

93.007.000-9

SQM S.A.

Chile

—

MUS$250

01/28/2025

US$

Semiannual

Upon maturity

4.08

4.38

93.007.000-9

SQM S.A.

Chile

—

MUS$450

05/07/2029

US$

Semiannual

Upon maturity

4.10

4.25

93.007.000-9

SQM S.A.

Chile

—

MUS$400

01/22/2050

US$

Semiannual

Upon maturity

4.19

4.25

93.007.000-9

SQM S.A.

Chile

—

MUS$700

09/10/2051

US$

Semiannual

Upon maturity

3.42

3.50

93.007.000-9

SQM S.A.

Chile

564

01/05/2030

Semiannual

4.76

4.90

93.007.000-9

SQM S.A.

Chile

699

02/01/2033

Semiannual

Upon maturity

3.69

3.80

93.007.000-9

SQM S.A.

Chile

563

01/15/2028

Semiannual

Upon maturity

3.24

3.25

93.007.000-9

SQM S.A.

Chile

700

06/01/2038

Semiannual

Upon maturity

3.43

3.45


	Nominal non-current maturities as of December 31, 2022						Carrying amounts of maturities as of December 31, 2022
													Bond
	Over 1	Over 2	Over 3	Over 4	Over 5		Over 1	Over 2	Over 3	Over 4	Over 5		issuance
Series	year to 2	years to 3	Years to 4	Years to 5	years	Total	year to 2	years to 3	Years to 4	Years to 5	years	Subtotal	costs	Total
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
MUS$250	—	—	250,000	—	—	250,000	—	—	250,000	—	—	250,000	(469)	249,531
MUS$450	—	—	—	—	450,000	450,000	—	—	—	—	450,000	450,000	(3,666)	446,334
MUS$400	—	—	—	—	400,000	400,000	—	—	—	—	400,000	400,000	(6,112)	393,888
MUS$700	—	—	—	—	700,000	700,000	—	—	—	—	700,000	700,000	(15,341)	684,659
H	—	—	—	—	96,967	96,967	—	—	—	—	96,967	96,967	(1,034)	95,933
O	—	—	—	—	61,536	61,536	—	—	—	—	61,536	61,536	(741)	60,795
P	—	—	—	—	123,072	123,072	—	—	—	—	123,072	123,072	(52)	123,020
Q	—	—	—	—	123,073	123,073	—	—	—	—	123,073	123,073	(309)	122,764
Total	—	—	250,000	—	1,954,648	2,204,648	—	—	250,000	—	1,954,648	2,204,648	(27,724)	2,176,924

As of December 31,2021



Debtor			Number of			Currency or	Periodicity
			registration or ID			adjustment	Payment of
Tax ID No.	Company	Country	of the instrument	Series	Maturity date	index	interest	Repayment	Effective rate		Nominal rate
93.007.000-9	SQM S.A.	Chile	—	MUS$250	01/28/2025	US$	Semiannual	Upon maturity	4.08	%	4.38	%
93.007.000-9	SQM S.A.	Chile	—	MUS$300	04/03/2023	US$	Semiannual	Upon maturity	3.42	%	3.63	%
93.007.000-9	SQM S.A.	Chile	—	MUS$450	05/07/2029	US$	Semiannual	Upon maturity	4.10	%	4.25	%
93.007.000-9	SQM S.A.	Chile	—	MUS$400	01/22/2050	US$	Semiannual	Upon maturity	4.19	%	4.25	%
93.007.000-9	SQM S.A.	Chile	—	MUS$700	10/09/2051	US$	Semiannual	Upon maturity	3.43	%	3.50	%
93.007.000-9	SQM S.A.	Chile	564	H	01/05/2030	UF	Semiannual	Semiannual	4.76	%	4.90	%
93.007.000-9	SQM S.A.	Chile	699	O	02/01/2033	UF	Semiannual	Upon maturity	3.69	%	3.80	%
93.007.000-9	SQM S.A.	Chile	563	P	01/15/2028	UF	Semiannual	Upon maturity	3.24	%	3.25	%
93.007.000-9	SQM S.A.	Chile	700	Q	06/01/2038	UF	Semiannual	Upon maturity	3.43	%	3.45	%


	Nominal non-current maturities as of December 31, 2021						Carrying amounts of maturities as of December 31, 2021
													Bond
	Over 1	Over 2	Over 3	Over 4	Over 5		Over 1	Over 2	Over 3	Over 4	Over 5		issuance
Series	year to 2	years to 3	Years to 4	Years to 5	years	Total	year to 2	years to 3	Years to 4	Years to 5	years	Subtotal	costs	Total
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
MUS$250	—	—	250,000	—	—	250,000	—	—	250,000	—	—	250,000	(903)	249,097
MUS$300	300,000	—	—	—	—	300,000	300,000	—	—	—	—	300,000	(168)	299,832
MUS$450	—	—	—	—	450,000	450,000	—	—	—	—	450,000	450,000	(4,343)	445,657
MUS$400	—	—	—	—	400,000	400,000	—	—	—	—	400,000	400,000	(6,347)	393,653
MUS$700	—	—	—	—	700,000	700,000	—	—	—	—	700,000	700,000	(15,836)	684,164
H	—	—	—	—	100,064	100,064	—	—	—	—	100,064	100,064	(1,206)	98,858
O	—	—	—	—	55,035	55,035	—	—	—	—	55,035	55,035	(822)	54,213
P	—	—	—	—	110,070	110,070	—	—	—	—	110,070	110,070	(65)	110,005
Q	—	—	—	—	110,070	110,070	—	—	—	—	110,070	110,070	(330)	109,740
Total	300,000	—	250,000	—	1,925,239	2,475,239	300,000	—	250,000	—	1,925,239	2,475,239	(30,020)	2,445,219

Schedule of payments charged to Series H bonds

For the periods ended December 31, 2022, and 2021, the Company has made the following payments with a charge to the Series H bonds and their associated CCS hedging:


	As of	As of	As of
	December 31,	December 31,	December 31,
Payments made	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Payments of interest, Series H bonds	5,241	6,661	6,601
CCS Coverage	2,126	1,598	2,575

Schedule of payments charged to single series bonds, second issue

For the periods ended December 31, 2022 and 2021, the detail of payments charged to the line of single series bonds, second issue is as follows.


	As of	As of	As of
	December 31,	December 31,	December 31,
Payments made	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Payments of interest	—	—	6,875

Schedule of payments charged to Series O bonds

For the periods ended December 31, 2022, and 2021, the Company has made the following payments with a charge to Series O bonds and their associated CCS hedging:


	As of	As of	As of
	December 31,	December 31,	December 31,
Payments made	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Payments of interest, Series O bonds	2,139	2,225	2,070
CCS Coverage	556	438	599

Schedule of payments charged to single series bonds, third issue

For the periods ended December 31, 2022, and 2021, the following payments have been made with a debit to the line of single-series bonds, third issue:


	As of	As of	As of
	December 31,	December 31,	December 31,
Payments made	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Payments of interest	10,875	10,875	10,875

Schedule of payments charged to single series bonds, fourth issue

For the periods ended on December 31, 2022 and 2021, the following payments have been made.


	December 31,	December 31,	December 31,
Payments made	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Payments of interest	10,938	10,938	10,938

Schedule of payments charged to Series P bonds

For the periods ended on December 31, 2022 and 2021, the following payments and their associated CCS have been made:


	December 31,	December 31,	December 31,
Payments made	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Payments of interest, Series P bonds	3,385	3,835	3,534
CCS Coverage	3,569	3,119	3,439

Schedule of payments charged to Series Q bonds

For the periods ended December 31, 2022 and 2021, the following payments have been made:


	December 31,	December 31,	December 31,
Payments made	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Payments of interest, Series Q bonds	4,032	3,990	3,769
CCS Coverage	1,877	1,919	1,021

Schedule of payments charged to single series bonds, fifth issue

For the periods ended on December 31, 2022 and 2021, the following payments have been made:


	December 31,	December 31,	December 31,
Payments made	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Payments of interest	19,125	19,125	19,125

Schedule of payments charged to single series bonds, sixth issue

For the periods ended on December 31, 2022 and 2021, the following payments have been made:


	December 31,	December 31,	December 31,
Payments made	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Payments of interest	17,000	17,000	8,500

Schedule of payments charged to single series bonds, seventh issue


	December 31,	December 31,	December 31,
Payments made	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Payments of interest	23,819	—	—

Schedule of trade and other payables

a) Details trade and other payables


	As of December 31, 2022			As of December 31, 2021
Details trade and other payables	Current	Non-current	Current	Current	Non-current	Total
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
Accounts payable	373,351	—	373,351	279,092	—	279,092
Other accounts payable	1,438	—	1,438	558	—	558
Prepayments from customers	—	—	—	—	3,813	3,813
Total	374,789	—	374,789	279,650	3,813	283,463

Schedule of suppliers current and past due on payments


	Amounts according to payment periods as of December 31, 2022
						366 and
	Up to 30	31 – 60	61 – 90	91 – 120	121 – 365	more
Type of Supplier	Days	days	Days	days	days	days	Total
							ThUS$
Goods	239,108	786	877	339	—	—	241,110
Services	91,499	1,270	73	—	65	—	92,907
Others	34,325	—	—	—	—	—	34,325
Total	364,932	2,056	950	339	65	—	368,342


	Amounts according to payment periods as of December 31, 2021
						366 and
	Up to 30	31 - 60	61 – 90	91 – 120	121 – 365	more
Type of Supplier	Days	days	Days	days	days	days	Total
							ThUS$
Goods	148,045	1,799	1,425	—	120	3,813	155,202
Services	80,089	335	109	2	78	—	80,613
Others	31,949	—	—	—	—	—	31,949
Total	260,083	2,134	1,534	2	198	3,813	267,764

Suppliers past due on payments


	Amounts according to payment periods as of December 31, 2022
						366 and
	Up to 30	31 – 60	61 – 90	91 – 120	121 – 365	more
Type of Supplier	Days	days	Days	days	days	days	Total
							ThUS$
Goods	1,294	135	64	24	1,363	—	2,880
Services	1,548	174	20	1	196	—	1,939
Others	136	27	—	—	27	—	190
Total	2,978	336	84	25	1,586	—	5,009


	Amounts according to payment periods as of December 31, 2021
						366 and
	Up to 30	31 – 60	61 – 90	91 – 120	121 – 365	more
Type of Supplier	Days	days	Days	days	days	days	Total
							ThUS$
Goods	7,688	30	5	1	37	—	7,761
Services	4,055	108	533	34	181	—	4,911
Others	2,340	16	73	35	5	—	2,469
Total	14,083	154	611	70	223	—	15,141

Schedule of detailed information about financial assets

a)Financial Assets


	As of December 31, 2022			As of December 31, 2021
Description of financial assets	Current	Non-current	Total	Current	Non-current	Total
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
Cash and cash equivalent	2,655,236	—	2,655,236	1,515,051	—	1,515,051
Trade receivables due from related parties at amortized cost	81,622	—	81,622	86,152	—	86,152
Financial assets measured at amortized cost	950,167	23	950,190	905,170	91	905,261
Trade and other receivables	1,087,420	2,091	1,089,511	654,073	6,172	660,245
Total financial assets measured at amortized cost	4,774,445	2,114	4,776,559	3,160,446	6,263	3,166,709
Financial instruments for hedging purposes	7,014	—	7,014	12,625	245	12,870
Financial instruments held for trading	4,174	—	4,174	1,254	—	1,254
Financial assets classified as available for sale at fair value through equity	—	9,497	9,497	—	8,932	8,932
Total financial assets at fair value	11,188	9,497	20,685	13,879	9,177	23,056
Total financial assets	4,785,633	11,611	4,797,244	3,174,325	15,440	3,189,765

Schedule of detailed information about financial liabilities

b)Financial Liabilities


	As of December 31, 2022			As of December 31, 2021
Description of financial liabilities	Current	Non-current	Total	Current	Non-current	Total
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
For hedging purposes through equity	42,754	19,772	62,526	8,954	72,900	81,854
Held for trading at fair value through profit or loss	5,816	—	5,816	1,672	—	1,672
Financial liabilities at fair value	48,570	19,772	68,342	10,626	72,900	83,526
Bank loans	130,840	197,522	328,362	85	69,613	69,698
Unsecured obligations	343,589	2,176,924	2,520,513	40,594	2,445,219	2,485,813
Lease Liabilities	12,149	49,585	61,734	7,704	46,519	54,223
Trade and other payables	374,789	—	374,789	279,650	3,813	283,463
Total financial liabilities at amortized cost	861,367	2,424,031	3,285,398	328,033	2,565,164	2,893,197
Total financial liabilities	909,937	2,443,803	3,353,740	338,659	2,638,064	2,976,723

Schedule of fair value measurement of assets and liabilities


	As of December 31, 2022			Measurement Methodology
		Fair value
	Carrying Amount at	(disclosure	Fair amount
Fair value measurement of assets and liabilities	Amortized Cost	purposes)	registered	Level 1	Level 2	Level 3
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
Financial Assets
Cash and cash equivalents	2,655,236	2,655,236	—	2,655,236	—	—
Other current financial assets
- Time deposits	950,167	950,167	—	—	950,167	—
- Derivative financial instruments	—	—	—	—	—
- Forwards	—	—	3,704	—	3,704	—
- Options	—	—	470	—	470	—
- Hedging assets	—	—	7,014	—	7,014	—
- Swaps	—	—	—	—	—	—
Non-current accounts receivable	2,091	2,091	—	—	—	—
Other non-current financial assets:
- Other	23	23	—	—	23	—
- Equity instruments	—	—	9,497	9,497	—	—
- Hedging assets – Swaps	—	—	22,606	22,606	—	—
Other current financial liabilities
- Bank borrowings	130,840	130,840	—	—	130,840	—
- Derivative instruments	—	—	—	—	—	—
- Forwards	—	—	4,848	—	4,848	—
- Options	—	—	968	—	968	—
- Hedging liabilities – Swaps	—	—	42,754	—	42,754	—
- Swaps hedges, investments	—	—	—	—	—	—
- Unsecured obligations	343,589	343,589	—	—	343,589	—
Other non-current financial liabilities
- Bank borrowings	197,522	196,598	—	—	196,598	—
- Unsecured obligations	2,176,924	2,476,924	—	—	2,476,924	—
- Non-current hedging liabilities	—	—	19,772	—	19,772	—


	As of December 31, 2021			Measurement Methodology
		Fair value
	Carrying Amount at	(disclosure	Fair amount
Fair value measurement of assets and liabilities	Amortized Cost	purposes)	registered	Level 1	Level 2	Level 3
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
Financial Assets
Cash and cash equivalents	1,515,051	1,515,051	—	—	1,515,051	—
Other current financial assets
- Time deposits	905,170	905,170	—	—	905,170	—
- Derivative financial instruments
- Forwards	—	—	1,031	—	1,031	—
- Options	—	—	223	—	223	—
- Hedging assets	—	—	—	—	—	—
- Swaps	—	—	12,625	—	12,625	—
Non-current accounts receivable	6,172	6,172	—	—	—	—
Other non-current financial assets:
- Other	91	91	—	—	91	—
- Equity instruments	—	—	9,177	9,177	—	—
- Hedging assets – Swaps	—	—	—	—	—	—
Other current financial liabilities
- Bank borrowings	85	85	—	—	85	—
- Derivative instruments	—	—	—	—	—	—
- Forwards	—	—	1,270	—	1,270	—
- Options	—	—	402	—	402	—
- Hedging liabilities – Swaps	—	—	8,954	—	8,954	—
- Swaps hedges, investments	—	—	—	—	—	—
- Unsecured obligations	40,594	40,594	—	—	40,594	—
Other non-current financial liabilities
- Bank borrowings	69,613	70,497	—	—	70,497	—
- Unsecured obligations	2,445,219	2,871,005	—	—	2,871,005	—
- Non-current hedging liabilities	—	—	72,900	—	72,900	—

Schedule of net debt


	As of	As of
	December 31,	December 31,
Net debt	2022	2021
	ThUS$	ThUS$
Cash and cash equivalents	2,655,236	1,515,051
Other current financial assets	961,355	919,049
Other non-current financial hedge assets	22,606	245
Other current financial liabilities	(522,999)	(51,305)
Lease liabilities current	(12,149)	(7,704)
Other non-current financial liabilities	(2,394,218)	(2,587,732)
Non-current Lease liabilities	(49,585)	(46,519)
Total	660,246	(258,915)

Schedule of detailed information about changes in net debt


	As of	From cash flow			Not from cash flow			As of
	December 31,	Amounts from	Amounts from	Other cash	Interests	Exchange rate	Fair value	December 31,
Net debt	2021	loans	interests	income/expenses		differences		2022
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
Obligations with the public and bank loans	(2,555,511)	(246,883)	98,155	2,566	(103,100)	(44,102)	—	(2,848,875)
Current and non-current lease liabilities	(54,223)	10,478	1,226	—	(20,426)	1,211	—	(61,734)
Financial instruments derived from hedging	(81,597)	993	7,623	—	37,494	—	25,426	(10,061)
Non-hedging derivative financial instruments (net)	(418)	—	—	(39,878)	38,653	—	—	(1,643)
Hedging and investment derivatives	12,613	—	—	(52,698)	16,104	—	(6,003)	(29,984)
Current and non-current financial liabilities	(2,679,136)	(235,412)	107,004	(90,010)	(31,275)	(42,891)	19,423	(2,952,297)
Cash and cash equivalents	1,515,051	—	—	1,165,225	—	(25,040)	—	2,655,236
Deposits that do not qualify as cash and cash equivalents	905,170	—	(48,120)	62,859	47,038	(16,779)	—	950,168
Derivatives for investment hedges SQM Australia	—	—	—	2,022	—	—	5,117	7,139
Total	(258,915)	(235,412)	58,884	1,140,096	15,763	(84,710)	24,540	660,246


	As of	From cash flow			Not from cash flow			As of
	December 31,	Amounts from	Amounts from	Other cash	Interests	Exchange rate	Fair value	December 31,
Net debt	2020	loans	interests	income/expenses		differences		2021
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
Obligations with the public and bank loans	(1,922,864)	(685,130)	75,578	16,570	(84,138)	44,473	—	(2,555,511)
Current and non-current lease liabilities	(31,074)	7,960	1,587	—	(32,877)	181	—	(54,223)
Financial instruments derived from hedging	18,070	(760)	7,238	—	(52,254)	—	(53,891)	(81,597)
Derivatives from other financial non-hedge assets	(2,784)	—	—	(2,327)	4,693	—	—	(418)
Current and non-current financial liabilities	(1,938,652)	(677,930)	84,403	14,243	(164,576)	44,654	(53,891)	(2,691,749)
Cash and cash equivalents	509,102	—	—	1,022,061	—	(16,112)		1,515,051
Deposits that do not qualify as cash and cash equivalents	345,459	—	(2,747)	585,106	4,668	(27,316)	—	905,170
Derivatives from hedge assets	(21,004)	—	—	9,405	23,083	—	1,129	12,613
Total	(1,105,095)	(677,930)	81,656	1,630,815	(136,825)	1,226	(52,762)	(258,915)

Equity-accounted investees - Dividends Received (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Feb. 28, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Equity-accounted investees [Line Items]
Dividends received		$ 6,354	$ 11,663	$ 3,164
Abu Dhabi Fertilizer Industries WWL
Equity-accounted investees [Line Items]
Share of ownership in associates		37.00%
Dividends received	$ 3,000	$ 3,000	9,438	0
Ajay North America
Equity-accounted investees [Line Items]
Share of ownership in associates		49.00%
Dividends received		$ 1,576	1,233	1,967
Ajay Europe SARL
Equity-accounted investees [Line Items]
Share of ownership in associates		50.00%
Dividends received		$ 1,778	$ 992	$ 1,197

Reportable segments

12 Months Ended

Dec. 31, 2022

Reportable segments

Reportable segments

Note 22 Reportable segments

22.2Reportable segment disclosures:


	Specialty					Other				Total as of
	plant	Iodine and its	Lithium and	Industrial		products	Reportable	Operating	Unallocated	December 31,
Operating segment items for the year ended December 31, 2022	nutrients	derivatives	its derivatives	chemicals	Potassium	and services	segments	segments	amounts	2022
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
Revenue	1,172,334	754,339	8,152,939	165,200	437,180	28,586	10,710,578	10,710,578	—	10,710,578
Revenues from transactions with other operating segments of the same entity	—	—	—	—	—	—	—	—	—	—
Revenues from external customers and transactions with other operating segments of the same entity	1,172,334	754,339	8,152,939	165,200	437,180	28,586	10,710,578	10,710,578	—	10,710,578
Costs of sales	(722,261)	(282,100)	(3,636,852)	(112,247)	(193,581)	(26,912)	(4,973,953)	(4,973,953)	—	(4,973,953)
Administrative expenses	—	—	—	—	—	—	—	—	(142,644)	(142,644)
Finance expense	—	—	—	—	—	—	—	—	(86,651)	(86,651)
Depreciation and amortization expense	(63,321)	(53,734)	(88,510)	(14,724)	(24,043)	(126)	(244,458)	(244,458)	—	(244,458)
The entity’s interest in the profit or loss of associates and joint ventures accounted for by the equity method	—	—	—	—	—	—	—	—	20,159	20,159
Income before taxes	450,073	472,239	4,516,087	52,953	243,599	1,674	5,736,625	5,736,625	(250,129)	5,486,496
Income tax expense	—	—	—	—	—	—	—	—	(1,572,212)	(1,572,212)
Net income (loss)	450,073	472,239	4,516,087	52,953	243,599	1,674	5,736,625	5,736,625	(1,822,341)	3,914,284
Assets	—	—	—	—	—	—	—	—	10,819,101	10,819,101
Equity-accounted investees	—	—	—	—	—	—	—	—	54,386	54,386
Incorporation of non-current assets other than financial instruments, deferred tax assets, net defined benefit assets and rights arising from insurance contracts	—	—	—	—	—	—	—	—	1,757,581	1,757,581
Liabilities	—	—	—	—	—	—	—	—	5,887,100	5,887,100
Impairment loss of financial assets recognized in profit or loss							—	—	3,369	3,369
Impairment loss of non-financial assets recognized in profit or loss	—	—	—	—	—	—	—	—	(42,233)	(42,233)
Cash flows
Cash flows from operating activities	—	—	—	—	—	—	—	—	4,077,595	4,077,595
Cash flows used in investing activities	—	—	—	—	—	—	—	—	(909,401)	(909,401)
Cash flows from financing activities	—	—	—	—	—	—	—	—	(2,002,969)	(2,002,969)


	Specialty					Other				Total as of
	plant	Iodine and its	Lithium and	Industrial		products	Reportable	Operating	Unallocated	December 31,
Operating segment items for the year ended December 31, 2021	nutrients	derivatives	its derivatives	chemicals	Potassium	and services	segments	segments	amounts	2021
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
Revenue	908,815	437,931	936,121	132,011	416,592	30,845	2,862,315	2,862,315	—	2,862,315
Revenues from transactions with other operating segments of the same entity	—	—	—	—	—	—	—	—	—	—
Revenues from external customers and transactions with other operating segments of the same entity	908,815	437,931	936,121	132,011	416,592	30,845	2,862,315	2,862,315	—	2,862,315
Costs of sales	(646,930)	(240,341)	(494,794)	(109,067)	(253,125)	(27,951)	(1,772,208)	(1,772,208)	—	(1,772,208)
Administrative expenses	—	—	—	—	—	—	—	—	(118,893)	(118,893)
Finance expense	—	—	—	—	—	—	—	—	(84,626)	(84,626)
Depreciation and amortization expense	(58,808)	(41,215)	(65,014)	(13,743)	(35,290)	(169)	(214,239)	(214,239)	—	(214,239)
The entity’s interest in the profit or loss of associates and joint ventures accounted for by the equity method	—	—	—	—	—	—	—	—	11,132	11,132
Income before taxes	261,885	197,590	441,327	22,944	163,467	2,894	1,090,107	1,090,107	(248,886)	841,221
Income tax expense	—	—	—	—	—	—	—	—	(249,016)	(249,016)
Net income (loss)	261,885	197,590	441,327	22,944	163,467	2,894	1,090,107	1,090,107	(497,902)	592,205
Assets	—	—	—	—	—	—	—	—	7,180,201	7,180,201
Equity-accounted investees	—	—	—	—	—	—	—	—	39,824	39,824
Incorporation of non-current assets other than financial instruments, deferred tax assets, net defined benefit assets and rights arising from insurance contracts	—	—	—	—	—	—	—	—	152,663	152,663
Liabilities	—	—	—	—	—	—	—	—	3,964,230	3,964,230
Impairment loss of financial assets recognized in profit or loss							—	—	(235)	(235)
Impairment loss of non-financial assets recognized in profit or loss	—	—	—	—	—	—	—	—	(6,060)	(6,060)
Cash flows
Cash flows from operating activities	—	—	—	—	—	—	—	—	822,520	822,520
Cash flows used in investing activities	—	—	—	—	—	—	—	—	(1,006,943)	(1,006,943)
Cash flows from financing activities	—	—	—	—	—	—	—	—	1,206,485	1,206,485


	Specialty					Other				Total as of
	plant	Iodine and its	Lithium and	Industrial		products	Reportable	Operating	Unallocated	December 31,
Operating segment items for the year ended December 31, 2020	nutrients	derivatives	its derivatives	chemicals	Potassium	and services	segments	segments	amounts	2020
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
Revenue	701,688	334,657	383,373	160,608	209,294	27,571	1,817,191	1,817,191	—	1,817,191
Revenues from transactions with other operating segments of the same entity	—	—	—	—	—	—	—	—	—	—
Revenues from external customers and transactions with other operating segments of the same entity	701,688	334,657	383,373	160,608	209,294	27,571	1,817,191	1,817,191	—	1,817,191
Costs of sales	(537,801)	(168,499)	(297,048)	(119,092)	(187,019)	(24,862)	(1,334,321)	(1,334,321)	—	(1,334,321)
Administrative expenses	—	—	—	—	—	—	—	—	(107,017)	(107,017)
Finance expense	—	—	—	—	—	—	—	—	(82,199)	(82,199)
Depreciation and amortization expense	(55,335)	(40,687)	(56,092)	(14,136)	(34,570)	(3,092)	(203,912)	(203,912)	—	(203,912)
The entity’s interest in the profit or loss of associates and joint ventures accounted for by the equity method	—	—	—	—	—	—	—	—	8,940	8,940
Income before taxes	163,887	166,158	86,325	41,516	22,275	2,709	482,870	482,870	(244,332)	238,538
Income tax expense	—	—	—	—	—	—	—	—	(70,179)	(70,179)
Net income (loss)	163,887	166,158	86,325	41,516	22,275	2,709	482,870	482,870	(314,511)	168,359
Assets	—	—	—	—	—	—	—	—	4,818,463	4,818,463
Equity-accounted investees	—	—	—	—	—	—	—	—	85,993	85,993
Incorporation of non-current assets other than financial instruments, deferred tax assets, net defined benefit assets and rights arising from insurance contracts	—	—	—	—	—	—	—	—	358,009	358,009
Other Liabilities	—	—	—	—	—	—	—	—	2,655,885	2,655,885
Impairment loss of financial assets recognized in profit or loss	—	—	—	—	—	—	—	—	4,684	4,684
Impairment loss of non-financial assets recognized in profit or loss	—	—	—	—	—	—	—	—	(11,644)	(11,644)
Cash flows
Cash flows from operating activities	—	—	—	—	—	—	—	—	182,234	182,234
Cash flows used in investing activities	—	—	—	—	—	—	—	—	(167,091)	(167,091)
Cash flows from financing activities	—	—	—	—	—	—	—	—	(94,132)	(94,132)

22.3Statement of comprehensive income classified by reportable segments based on groups of products


Items in the statement of comprehensive income for the year ended December 31,2022	Specialty plant nutrients	Iodine and its derivatives	Lithium and its derivatives	Industrial chemicals	Potassium	Other products and services	Corporate Unit	Total segments and Corporate unit
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
Revenue	1,172,334	754,339	8,152,939	165,200	437,180	28,586	—	10,710,578
Costs of sales	(722,261)	(282,100)	(3,636,852)	(112,247)	(193,581)	(26,912)	—	(4,973,953)
Gross profit	450,073	472,239	4,516,087	52,953	243,599	1,674	—	5,736,625
Other incomes by function	—	—	—	—	—	—	9,854	9,854
Administrative expenses	—	—	—	—	—	—	(142,644)	(142,644)
Other expenses by function	—	—	—	—	—	—	(75,971)	(75,971)
Impairment of gains and review of impairment losses (impairment losses) determined in accordance with IFRS 9	—	—	—	—	—	—	3,369	3,369
Other losses	—	—	—	—	—	—	117	117
Financial income	—	—	—	—	—	—	47,038	47,038
Financial costs	—	—	—	—	—	—	(86,651)	(86,651)
Interest in the profit (loss) of associates and joint ventures accounted for by the equity method	—	—	—	—	—	—	20,159	20,159
Exchange differences	—	—	—	—	—	—	(25,400)	(25,400)
Profit (loss) before taxes	450,073	472,239	4,516,087	52,953	243,599	1,674	(250,129)	5,486,496
Income tax expense	—	—	—	—	—	—	(1,572,212)	(1,572,212)
Profit (loss) net	450,073	472,239	4,516,087	52,953	243,599	1,674	(1,822,341)	3,914,284


Items in the statement of comprehensive income for the year ended December 31,2021	Specialty plant nutrients	Iodine and its derivatives	Lithium and its derivatives	Industrial chemicals	Potassium	Other products and services	Corporate Unit	Total segments and Corporate unit
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
Revenue	908,815	437,931	936,121	132,011	416,592	30,845	—	2,862,315
Costs of sales	(646,930)	(240,341)	(494,794)	(109,067)	(253,125)	(27,951)	—	(1,772,208)
Gross profit	261,885	197,590	441,327	22,944	163,467	2,894	—	1,090,107
Other incomes by function	—	—	—	—	—	—	19,552	19,552
Administrative expenses	—	—	—	—	—	—	(118,893)	(118,893)
Other expenses by function	—	—	—	—	—	—	(60,605)	(60,605)
Impairment of gains and review of impairment losses (impairment losses) determined in accordance with IFRS 9	—	—	—	—	—	—	(235)	(235)
Other losses	—	—	—	—	—	—	(2,638)	(2,638)
Financial income	—	—	—	—	—	—	4,668	4,668
Financial costs	—	—	—	—	—	—	(84,626)	(84,626)
Interest in the profit (loss) of associates and joint ventures accounted for by the equity method	—	—	—	—	—	—	11,132	11,132
Exchange differences	—	—	—	—	—	—	(17,241)	(17,241)
Profit (loss) before taxes	261,885	197,590	441,327	22,944	163,467	2,894	(248,886)	841,221
Income tax expense	—	—	—	—	—	—	(249,016)	(249,016)
Profit (loss) net	261,885	197,590	441,327	22,944	163,467	2,894	(497,902)	592,205


Items in the statement of comprehensive income for the year ended December 31,2020	Specialty plant nutrients	Iodine and its derivatives	Lithium and its derivatives	Industrial chemicals	Potassium	Other products and services	Corporate Unit	Total segments and Corporate unit
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
Revenue	701,688	334,657	383,373	160,608	209,294	27,571	—	1,817,191
Cost of sales	(537,801)	(168,499)	(297,048)	(119,092)	(187,019)	(24,862)	—	(1,334,321)
Gross profit	163,887	166,158	86,325	41,516	22,275	2,709	—	482,870
Other incomes by function	—	—	—	—	—	—	26,893	26,893
Administrative expenses	—	—	—	—	—	—	(107,017)	(107,017)
Other expenses by function	—	—	—	—	—	—	(99,612)	(99,612)
Impairment of gains and review of impairment losses (impairment losses) determined in accordance with IFRS 9	—	—	—	—	—	—	4,684	4,684
Other losses	—	—	—	—	—	—	(5,313)	(5,313)
Financial income	—	—	—	—	—	—	13,715	13,715
Financial costs	—	—	—	—	—	—	(82,199)	(82,199)
Interest in the profit (loss) of associates and joint ventures accounted for by the equity method	—	—	—	—	—	—	8,940	8,940
Exchange differences	—	—	—	—	—	—	(4,423)	(4,423)
Profit (loss) before taxes	163,887	166,158	86,325	41,516	22,275	2,709	(244,332)	238,538
Income tax expense	—	—	—	—	—	—	(70,179)	(70,179)
Profit (loss) from continuing operations	163,887	166,158	86,325	41,516	22,275	2,709	(314,511)	168,359

22.4Disclosures 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.

22.5Disclosures on main customers

With respect to the degree of dependency of the Company on its customers, in accordance with paragraph 34 of IFRS 8, the Company has no external customers who individually represent 10% or more of its revenue.

22.6Segments by geographical areas


		Latin America and the
Segements by geographical areas	Chile	Caribbean	Europe	North America	Asia and others	Total
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
Revenue at December 31, 2022	223,148	339,940	932,558	914,187	8,300,745	10,710,578
Non-current assets at December 31, 2022
Investment accounted for under the equity method	—	20,792	15,939	17,655	—	54,386
Intangible assets other than goodwill	75,666	428	6,497	1,345	82,400	166,336
Goodwill	—	86	158	723	—	967
Property, plant and equipment, net	2,269,923	743	14,978	4,506	436,688	2,726,838
Right-of-use assets	32,312	47	1,651	2,739	24,118	60,867
Other non-current assets	46,640	17	6	4,706	1,027	52,396
Non-current assets	2,424,541	22,113	39,229	31,674	544,233	3,061,790


		Latin America and the
Segements by geographical areas	Chile	Caribbean	Europe	North America	Asia and others	Total
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
Revenue for the year ended December 31, 2021	219,648	326,287	482,765	558,002	1,275,613	2,862,315
Non-current assets at December 31, 2021
Investment accounted for under the equity method	—	8,683	15,242	15,899	—	39,824
Intangible assets other than goodwill	89,019	496	6,996	1,809	81,338	179,658
Goodwill	22,979	86	11,531	—	—	34,596
Property, plant and equipment, net	1,815,997	671	11,380	3,704	180,473	2,012,225
Right-of-use assets	29,803	68	2,040	3,351	17,346	52,608
Other non-current assets	27,626	16	6	3,950	1,889	33,487
Non-current assets	1,985,424	10,020	47,195	28,713	281,046	2,352,398


		Latin America and the
Segements by geographical areas	Chile	Caribbean	Europe	North America	Asia and others	Total
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
Revenue for the year ended December 31, 2020	153,745	159,990	380,126	427,572	695,758	1,817,191
Non-current assets at December 31, 2020
Investment accounted for under the equity method	—	—	41,273	14,468	30,252	85,993
Intangible assets other than goodwill	95,934	565	825	2,274	78,809	178,407
Goodwill	23,065	—	18,901	—	—	41,966
Property, plant and equipment, net	1,667,824	642	12,592	3,494	52,767	1,737,319
Right-of-use assets	23,461	2,298	2,428	1,776	61	30,024
Other non-current assets	19,377	17	7	2,641	—	22,042
Non-current assets	1,829,661	3,522	76,026	24,653	161,889	2,095,751

Inventories (Table)

12 Months Ended

Dec. 31, 2022

Inventories

Schedule of detailed information about inventories


	As of	As of
	December 31,	December 31,
Type of inventory	2022	2021
	ThUS$	ThUS$
Raw material	27,035	12,508
Production supplies	68,426	41,114
Products-in-progress	590,946	527,118
Finished product	1,097,874	603,036
Total	1,784,281	1,183,776

Schedule of information about inventory reserves

The breakdown of inventory allowances is detailed as follows:


	As of	As of
	December 31,	December 31,
Type of inventory	2022	2021
	ThUS$	ThUS$
Raw material and supplies for production	4,186	1,865
Products-in-progress	83,499	59,858
Finished product	16,372	14,169
Total	104,057	75,892

Schedule of movements in provisions of inventories


	As of	As of	As of
	December 31,	December 31,	December 31,
Reconciliation	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Beginning balance	75,892	80,930	88,174
Increase in Lower Value (1)	29,693	(3,650)	(5,404)
Additional Provision Differences of Inventory (2)	(161)	330	(704)
Increase / Decrease eventual differences and others (3)	—	—	1,244
Provision Used	(1,367)	(1,718)	(2,380)
Total changes	28,165	(5,038)	(7,244)
Final balance	104,057	75,892	80,930

Reportable segments - Statement of Comprehensive Income by Reportable Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement [Line Items]
Revenue	$ 10,710,578	$ 2,862,315	$ 1,817,191
Cost of sales	(4,973,953)	(1,772,208)	(1,334,321)
Gross profit	5,736,625	1,090,107	482,870
Other incomes by function	9,854	19,552	26,893
Administrative expenses	(142,644)	(118,893)	(107,017)
Other expenses by function	(75,971)	(60,605)	(99,612)
Impairment of gains and review of impairment losses (impairment losses) determined in accordance with IFRS 9	3,369	(235)	4,684
Other losses	117	(2,638)	(5,313)
Financial income	47,038	4,668	13,715
Finance costs	(86,651)	(84,626)	(82,199)
Interest in the profit (loss) of associates and joint ventures accounted for by the equity method	20,159	11,132	8,940
Foreign currency loss	(25,400)	(17,241)	(4,423)
Profit (loss) before taxes	5,486,496	841,221	238,538
Income tax expense	(1,572,212)	(249,016)	(70,179)
Profit (loss) net	3,914,284	592,205	168,359
Specialty plant nutrients
Statement [Line Items]
Revenue	1,172,334	908,815	701,688
Cost of sales	(722,261)	(646,930)	(537,801)
Gross profit	450,073	261,885	163,887
Other incomes by function	0	0	0
Administrative expenses	0	0	0
Other expenses by function	0	0	0
Impairment of gains and review of impairment losses (impairment losses) determined in accordance with IFRS 9	0	0	0
Other losses	0	0	0
Financial income	0	0	0
Finance costs	0	0	0
Interest in the profit (loss) of associates and joint ventures accounted for by the equity method	0	0	0
Foreign currency loss	0	0	0
Profit (loss) before taxes	450,073	261,885	163,887
Income tax expense	0	0	0
Profit (loss) net	450,073	261,885	163,887
Iodine and its derivatives
Statement [Line Items]
Revenue	754,339	437,931	334,657
Cost of sales	(282,100)	(240,341)	(168,499)
Gross profit	472,239	197,590	166,158
Other incomes by function	0	0	0
Administrative expenses	0	0	0
Other expenses by function	0	0	0
Impairment of gains and review of impairment losses (impairment losses) determined in accordance with IFRS 9	0	0	0
Other losses	0	0	0
Financial income	0	0	0
Finance costs	0	0	0
Interest in the profit (loss) of associates and joint ventures accounted for by the equity method	0	0	0
Foreign currency loss	0	0	0
Profit (loss) before taxes	472,239	197,590	166,158
Income tax expense	0	0	0
Profit (loss) net	472,239	197,590	166,158
Lithium and its derivatives
Statement [Line Items]
Revenue	8,152,939	936,121	383,373
Cost of sales	(3,636,852)	(494,794)	(297,048)
Gross profit	4,516,087	441,327	86,325
Other incomes by function	0	0	0
Administrative expenses	0	0	0
Other expenses by function	0	0	0
Impairment of gains and review of impairment losses (impairment losses) determined in accordance with IFRS 9	0	0	0
Other losses	0	0	0
Financial income	0	0	0
Finance costs	0	0	0
Interest in the profit (loss) of associates and joint ventures accounted for by the equity method	0	0	0
Foreign currency loss	0	0	0
Profit (loss) before taxes	4,516,087	441,327	86,325
Income tax expense	0	0	0
Profit (loss) net	4,516,087	441,327	86,325
Industrial chemicals
Statement [Line Items]
Revenue	165,200	132,011	160,608
Cost of sales	(112,247)	(109,067)	(119,092)
Gross profit	52,953	22,944	41,516
Other incomes by function	0	0	0
Administrative expenses	0	0	0
Other expenses by function	0	0	0
Impairment of gains and review of impairment losses (impairment losses) determined in accordance with IFRS 9	0	0	0
Other losses	0	0	0
Financial income	0	0	0
Finance costs	0	0	0
Interest in the profit (loss) of associates and joint ventures accounted for by the equity method	0	0	0
Foreign currency loss	0	0	0
Profit (loss) before taxes	52,953	22,944	41,516
Income tax expense	0	0	0
Profit (loss) net	52,953	22,944	41,516
Potassium
Statement [Line Items]
Revenue	437,180	416,592	209,294
Cost of sales	(193,581)	(253,125)	(187,019)
Gross profit	243,599	163,467	22,275
Other incomes by function	0	0	0
Administrative expenses	0	0	0
Other expenses by function	0	0	0
Impairment of gains and review of impairment losses (impairment losses) determined in accordance with IFRS 9	0	0	0
Other losses	0	0	0
Financial income	0	0	0
Finance costs	0	0	0
Interest in the profit (loss) of associates and joint ventures accounted for by the equity method	0	0	0
Foreign currency loss	0	0	0
Profit (loss) before taxes	243,599	163,467	22,275
Income tax expense	0	0	0
Profit (loss) net	243,599	163,467	22,275
Other products and services
Statement [Line Items]
Revenue	28,586	30,845	27,571
Cost of sales	(26,912)	(27,951)	(24,862)
Gross profit	1,674	2,894	2,709
Other incomes by function	0	0	0
Administrative expenses	0	0	0
Other expenses by function	0	0	0
Impairment of gains and review of impairment losses (impairment losses) determined in accordance with IFRS 9	0	0	0
Other losses	0	0	0
Financial income	0	0	0
Finance costs	0	0	0
Interest in the profit (loss) of associates and joint ventures accounted for by the equity method	0	0	0
Foreign currency loss	0	0	0
Profit (loss) before taxes	1,674	2,894	2,709
Income tax expense	0	0	0
Profit (loss) net	1,674	2,894	2,709
Corporate unit
Statement [Line Items]
Revenue	0	0	0
Cost of sales	0	0	0
Gross profit	0	0	0
Other incomes by function	9,854	19,552	26,893
Administrative expenses	(142,644)	(118,893)	(107,017)
Other expenses by function	(75,971)	(60,605)	(99,612)
Impairment of gains and review of impairment losses (impairment losses) determined in accordance with IFRS 9	3,369	(235)	4,684
Other losses	117	(2,638)	(5,313)
Financial income	47,038	4,668	13,715
Finance costs	(86,651)	(84,626)	(82,199)
Interest in the profit (loss) of associates and joint ventures accounted for by the equity method	20,159	11,132	8,940
Foreign currency loss	(25,400)	(17,241)	(4,423)
Profit (loss) before taxes	(250,129)	(248,886)	(244,332)
Income tax expense	(1,572,212)	(249,016)	(70,179)
Profit (loss) net	$ (1,822,341)	$ (497,902)	$ (314,511)

Financial instruments - Payments Made on Single Series Bonds, Third Issue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Single series bond Three \| Interest payment
Financial instruments [Line Items]
Repayments of bonds, notes and debentures	$ 10,875	$ 10,875	$ 10,875

Income tax and deferred taxes - Current and Non-Current Tax Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Statement [Line Items]
Current tax assets, current	$ 224,914	$ 157,542
Current tax assets, non-current	127,114	90,364
Monthly provisional income tax payments, Chilean companies
Statement [Line Items]
Current tax assets, current	894	435
Monthly provisional income tax payments, foreign companies
Statement [Line Items]
Current tax assets, current	96,906	62
Corporate tax credits
Statement [Line Items]
Current tax assets, current	653	674
1st category tax absorbed by tax losses
Statement [Line Items]
Current tax assets, current	169	26,848
Taxes in recovery process
Statement [Line Items]
Current tax assets, current	126,292	129,523
Total tax paid at SQM Salar
Statement [Line Items]
Current tax assets, non-current	$ 127,114	$ 90,364

Cash and cash equivalents

12 Months Ended

Dec. 31, 2022

Cash and cash equivalents.

Cash and cash equivalents

Note 9Cash and cash equivalents

9.1Types of cash and cash equivalents

As of December 31, 2022 and 2021, cash and cash equivalents are detailed as follows:


	As of	As of
	December 31,	December 31,
Cash	2022	2021
	ThUS$	ThUS$
Cash on hand	43	44
Cash in banks	529,606	662,407
Total Cash	529,649	662,451


	As of	As of
	December 31,	December 31,
Cash equivalents	2022	2021
	ThUS$	ThUS$
Short-term deposits, classified as cash equivalents	1,099,441	237,655
Short-term investments, classified as cash equivalents	1,026,146	614,945
Total cash equivalents	2,125,587	852,600
Total cash and cash equivalents	2,655,236	1,515,051

9.2Short-term investments, classified as cash equivalents

As of December 31, 2022 and 2021, the short-term investments classified as cash equivalents relate to mutual funds (investment liquidity funds) for investments in:


	As of	As of
	December 31,	December 31,
Institution	2022	2021
	ThUS$	ThUS$
Legg Mason - Western Asset Institutional Cash Reserves	590,661	233,648
JP Morgan US dollar Liquidity Fund Institutional	435,485	381,297
Total	1,026,146	614,945

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

9.3Amount restricted cash balances

The Company has granted a guarantee consisting of financial instruments, specified in deposits, custody and administration to Banco de Chile, for its subsidiary Isapre Norte Grande Ltda., in compliance with the provisions of the Superintendence of Health, which regulates social security health institutions.

According to the regulations of the Superintendence of Health, this guarantee is for the total payable to its affiliates and medical providers. Banco de Chile reports the current value of the guarantee to the Superintendence of Health and Isapre Norte Grande Ltda. on a daily basis.

As of December 31, 2022 and 2021, pledged assets are as follows


	As of	As of
	December 31,	December 31,
Restricted cash balances	2022	2021
	ThUS$	ThUS$
Isapre Norte Grande Ltda.	717	622
Total	717	622

9.4Short-term deposits, classified as cash equivalents

The detail at the end of each balance date is as follows:


		Original						Interest	As of
Receiver of the deposit	Type of deposit	Currency	Interest Rate		Placement date	Expiration date	Principal	accrued to-date	December 31, 2022
							ThUS$	ThUS$	ThUS$
Banco Crédito e Inversiones	Fixed term	Peso	0.95	%	11-17-2022	01-25-2023	42,998	609	43,607
Banco Crédito e Inversiones	Fixed term	Peso	0.94	%	12-15-2022	01-25-2023	100,817	537	101,354
Itau Corpbanca	Fixed term	Peso	0.96	%	12-06-2022	01-05-2023	41,421	343	41,764
Itau Corpbanca	Fixed term	Peso	0.96	%	12-12-2022	01-25-2023	100,660	644	101,304
Itau Corpbanca	Fixed term	Peso	0.95	%	11-17-2022	01-25-2023	32,248	458	32,706
Itau Corpbanca	Fixed term	Peso	0.95	%	11-16-2022	01-25-2023	73,831	1,070	74,901
Itau Corpbanca	Fixed term	Peso	0.96	%	12-13-2022	01-25-2023	30,146	183	30,329
Santander	Fixed term	Peso	0.95	%	12-16-2022	01-25-2023	103,288	523	103,811
Santander	Fixed term	Peso	0.94	%	12-06-2022	01-05-2023	20,710	168	20,878
Scotiabank Sud Americano	Fixed term	Peso	0.96	%	12-12-2022	01-25-2023	50,330	322	50,652
Scotiabank Sud Americano	Fixed term	Peso	0.98	%	12-13-2022	01-25-2023	100,487	621	101,108
Scotiabank Sud Americano	Fixed term	Peso	0.96	%	12-13-2022	01-25-2023	70,341	428	70,769
Scotiabank Sud Americano	Fixed term	Peso	0.97	%	12-14-2022	01-25-2023	100,258	584	100,842
Scotiabank Sud Americano	Fixed term	Dollar	4.54	%	11-21-2022	01-25-2023	82,000	424	82,424
Sumitomo Mitsui Banking	Fixed term	Dollar	4.54	%	11-21-2022	01-25-2023	122,000	631	122,631
Banco Crédito e Inversiones	Fixed term	Dollar	0.42	%	12-06-2022	01-06-2023	2,000	7	2,007
Banco Crédito e Inversiones	Fixed term	Dollar	0.44	%	12-01-2022	01-03-2023	1,500	6	1,506
Banco Crédito e Inversiones	Fixed term	Peso	0.22	%	12-30-2022	01-06-2023	2,103	1	2,104
Banco de Chile	Fixed term	Dollar	0.95	%	12-12-2022	02-14-2023	600	2	602
Itau Corpbanca	Fixed term	Dollar	1.02	%	12-13-2022	02-16-2023	500	2	502
Itau Corpbanca	Fixed term	Dollar	0.46	%	11-30-2022	01-03-2023	1,000	4	1,004
Itau Corpbanca	Fixed term	Dollar	0.42	%	12-06-2022	01-06-2023	700	2	702
Itau Corpbanca	Fixed term	Dollar	1.07	%	12-21-2022	02-27-2023	1,700	3	1,703
Scotiabank Sud Americano	Fixed term	Dollar	0.66	%	12-07-2022	01-27-2023	1,000	3	1,003
Scotiabank Sud Americano	Fixed term	Dollar	0.64	%	11-16-2022	01-03-2023	2,500	15	2,515
Scotiabank Sud Americano	Fixed term	Dollar	0.72	%	12-28-2022	02-13-2023	2,200	1	2,201
Scotiabank Sud Americano	Fixed term	Dollar	0.96	%	12-30-2022	03-03-2023	500	—	500
Scotiabank Sud Americano	Fixed term	Dollar	0.58	%	11-22-2022	01-03-2023	1,500	8	1,508
Scotiabank Sud Americano	Fixed term	Dollar	0.38	%	12-16-2022	01-13-2023	1,500	3	1,503
Scotiabank Sud Americano	Fixed term	Dollar	0.87	%	12-22-2022	02-16-2023	1,000	1	1,001
Total							1,091,838	7,603	1,099,441


									As of
		Original						Interest	December 31,
Receiver of the deposit	Type of deposit	Currency	Interest Rate		Placement date	Expiration date	Principal	accrued to-date	2021
							ThUS$	ThUS$	ThUS$
Credit Suisse	Fixed term	Dollar	0.58	%	11-30-2021	02-28-2022	200,000	100	200,100
Banco BCI	Fixed term	Dollar	0.31	%	12-24-2021	02-28-2022	1,250	—	1,250
Banco BCI	Fixed term	Dollar	0.36	%	12-07-2021	01-14-2022	8,000	2	8,002
Banco BCI	Fixed term	Dollar	0.28	%	12-30-2021	01-14-2022	500	—	500
Banco Santander	Fixed term	Dollar	3.12	%	12-30-2021	01-06-2022	3,550	2	3,552
Banco Santander	Fixed term	Dollar	0.26	%	12-16-2021	01-31-2022	2,500	—	2,500
Banco Santander	Fixed term	Dollar	0.40	%	12-27-2021	03-04-2022	1,500	—	1,500
Banco Santander	Fixed term	Dollar	0.40	%	12-29-2021	01-27-2022	1,500	—	1,500
Banco Itaú Corpbanca	Fixed term	Dollar	0.30	%	12-14-2021	01-07-2022	5,000	1	5,001
Banco Itaú Corpbanca	Fixed term	Dollar	0.37	%	12-28-2021	01-24-2022	1,000	—	1,000
Banco Itaú Corpbanca	Fixed term	Dollar	0.34	%	12-07-2021	01-28-2022	2,000	—	2,000
Scotiabank Sud Americano	Fixed term	Dollar	0.27	%	12-24-2021	02-28-2022	2,750	—	2,750
Scotiabank Sud Americano	Fixed term	Dollar	0.06	%	12-17-2021	01-31-2022	3,000	—	3,000
Scotiabank Sud Americano	Fixed term	Dollar	0.07	%	12-03-2021	01-18-2022	5,000	—	5,000
Total							237,550	105	237,655

Disclosures on equity - Capital Management Ratios (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Disclosure of Disclosures on equity [Line Items]
Net Financial Debt	$ (660,246)	$ 258,915	$ 1,105,095
Liquidity	2.29	4.76
Capital Management
Disclosure of Disclosures on equity [Line Items]
Net Financial Debt	$ (721,980)	$ 204,692
Liquidity	2.29	4.62
ROE	79.37	18.41
Adjusted EBITDA	$ 5,838,439	$ 1,185,453
EBITDA	$ 5,817,605	$ 1,140,086
ROA	78.61	21.29
Indebtedness	(0.15)	0.06
Description Net Financial Debt		Financial Debt – Financial Resources
Description Liquidity		Current Assets divided by Current Liabilities
Description ROE		Profit for the year divided by Total Equity
Description adjusted EBITDA		Adjusted EBITDA
Description EBITDA		EBITDA
Description ROA		Adjusted EBITDA – Depreciation divided by Total Assets net of financial resources less related parties’ investments
Description Indebtedness		Net Financial Debt on Equity
Calculation Net Financial Debt	Other current Financial Liabilities + Other Non-Current Financial Liabilities– Cash and Cash Equivalents – Other Current Financial Assets – Hedging Assets, non-current
Calculation Liquidity	Total Current Assets / Total Current Liabilities
Calculation ROE	Profit for the year / Equity
Calculation Adjusted EBITDA	EBITDA – Other income – Other gains (losses) - Share of Profit of associates and joint ventures accounted for using the equity method + Other expenses by function + Net impairment gains on reversal (losses) of financial assets – Finance income – Currency differences.
Calculation EBITDA	Profit (loss) + Depreciation and Amortization Expense adjustments + Finance Costs + Income Tax
Calculation ROA	(Gross Profit – Administrative Expenses)/ (Total Assets – Cash and Cash Equivalents – Other Current Financial Assets – Other Non-Current Financial Assets – Equity accounted Investments) (LTM)
Calculation Indebtedness	Net Financial Debt / Total Equity

Related party disclosures (Table)

12 Months Ended

Dec. 31, 2022

Related party disclosures

Schedule of detailed information about related parties


Tax ID No	Name	Country of origin	Functional currency	Nature
Foreign	Nitratos Naturais Do Chile Ltda.	Brazil	Dollar	Subsidiary
Foreign	SQM North America Corp.	United States	Dollar	Subsidiary
Foreign	SQM Europe N.V.	Belgium	Dollar	Subsidiary
Foreign	Soquimich European Holding B.V.	Netherlands	Dollar	Subsidiary
Foreign	SQM Corporation N.V.	Curacao	Dollar	Subsidiary
Foreign	SQM Comercial De México S.A. de C.V.	Mexico	Dollar	Subsidiary
Foreign	North American Trading Company	United States	Dollar	Subsidiary
Foreign	Administración y Servicios Santiago S.A. de C.V.	Mexico	Dollar	Subsidiary
Foreign	SQM Perú S.A. (3)	Peru	Dollar	Subsidiary
Foreign	SQM Ecuador S.A.	Ecuador	Dollar	Subsidiary
Foreign	SQM Nitratos Mexico S.A. de C.V.	Mexico	Dollar	Subsidiary
Foreign	SQMC Holding Corporation L.L.P.	United States	Dollar	Subsidiary
Foreign	SQM Investment Corporation N.V.	Curacao	Dollar	Subsidiary
Foreign	SQM Brasil Limitada	Brazil	Dollar	Subsidiary
Foreign	SQM France S.A.	France	Dollar	Subsidiary
Foreign	SQM Japan Co. Ltd.	Japan	Dollar	Subsidiary
Foreign	Royal Seed Trading Corporation A.V.V.	Aruba	Dollar	Subsidiary
Foreign	SQM Oceania Pty Limited	Australia	Dollar	Subsidiary
Foreign	Rs Agro-Chemical Trading Corporation A.V.V.	Aruba	Dollar	Subsidiary
Foreign	SQM Indonesia S.A.	Indonesia	Dollar	Subsidiary
Foreign	SQM Virginia L.L.C.	United States	Dollar	Subsidiary
Foreign	Comercial Caimán Internacional S.A.	Panama	Dollar	Subsidiary
Foreign	SQM África Pty. Ltd.	South Africa	Dollar	Subsidiary
Foreign	SQM Colombia SAS	Colombia	Dollar	Subsidiary
Foreign	SQM Internacional N.V.	Belgium	Dollar	Subsidiary
Foreign	SQM -Shanghai Chemicals Co. Ltd.	China	Dollar	Subsidiary
Foreign	SQM Lithium Specialties LLC	United States	Dollar	Subsidiary
Foreign	SQM Iberian S.A.	Spain	Dollar	Subsidiary
Foreign	SQM Beijing Commercial Co. Ltd.	China	Dollar	Subsidiary
Foreign	SQM Thailand Limited	Thailand	Dollar	Subsidiary
Foreign	SQM Australia PTY	Australia	Dollar	Subsidiary
Foreign	SQM Holland B.V.	Netherlands	Dollar	Subsidiary
Foreign	SQM Korea LLC	Korea	Dollar	Subsidiary
96.801.610-5	Comercial Hydro S.A.	Chile	Dollar	Subsidiary
96.651.060-9	SQM Potasio S.A.	Chile	Dollar	Subsidiary
96.592.190-7	SQM Nitratos S.A.	Chile	Dollar	Subsidiary
96.592.180-K	Ajay SQM Chile S.A.	Chile	Dollar	Subsidiary
79.947.100-0	SQM Industrial S.A.	Chile	Dollar	Subsidiary
79.906.120-1	Isapre Norte Grande Ltda.	Chile	Peso	Subsidiary
79.876.080-7	Almacenes y Depósitos Ltda.	Chile	Peso	Subsidiary


Tax ID No	Name	Country of origin	Functional currency	Nature
79.770.780-5	Servicios Integrales de Tránsitos y Transferencias S.A.	Chile	Dollar	Subsidiary
79.768.170-9	Soquimich Comercial S.A.	Chile	Dollar	Subsidiary
79.626.800-K	SQM Salar S.A.	Chile	Dollar	Subsidiary
76.534.490-5	Sociedad Prestadora de Servicios de Salud Cruz del Norte S.A.	Chile	Peso	Subsidiary
76.425.380-9	Exploraciones Mineras S.A.	Chile	Dollar	Subsidiary
76.064.419-6	Comercial Agrorama Ltda.	Chile	Peso	Subsidiary
76.145.229-0	Agrorama S.A.	Chile	Peso	Subsidiary
76.359.919-1	Orcoma Estudios SPA	Chile	Dollar	Subsidiary
76.360.575-2	Orcoma SPA	Chile	Dollar	Subsidiary
76.686.311-9	SQM MaG SpA	Chile	Dollar	Subsidiary
77.114.779-8	Sociedad Contractual Minera Bufalo	Chile	Dollar	Subsidiary
Foreign	Abu Dhabi Fertilizer Industries WWL	United Arab Emirates	Arab Emirates dirham	Associate
Foreign	Ajay North America	United States	Dollar	Associate
Foreign	Ajay Europe SARL	France	Euro	Associate
Foreign	Kore Potash PLC	United Kingdom	Dollar	Associate
Foreign	SQM Vitas Fzco.	United Arab Emirates	Arab Emirates dirham	Joint venture
Foreign	Covalent Lithium Pty Ltd.	Australia	Dollar	Joint venture
Foreign	Pavoni & C, SPA	Italy	Euro	Joint venture
96.511.530-7	Sociedad de Inversiones Pampa Calichera	Chile	Dollar	Other related parties
96.529.340-K	Norte Grande S.A.	Chile	Peso	Other related parties
79.049.778-9	Callegari Agrícola S.A.	Chile	Peso	Other related parties
Foreign	SQM Vitas Brasil Agroindustria (1)	Brazil	Brazilian real	Other related parties
Foreign	SQM Vitas Perú S.A.C. (1)	Peru	Dollar	Other related parties
Foreign	Abu Dhabi Fertilizer Industries WWL (2)	United Arab Emirates	United Arab Emirates dirham	Other related parties
Foreign	International Technical and Trading Agencies CO WLL (2)	United Arab Emirates	United Arab Emirates dirham	Other related parties


Tax ID No.	Name	Country of origin	Functional currency	Relationship
N/A	Ara Dos Primera del Salar de Pampa Blanca, Sierra Gorda	Chile	Peso	Other related parties
N/A	Ara Tres Primera del Salar de Pampa Blanca, Sierra Gorda	Chile	Peso	Other related parties
N/A	Ara Cuatro Primera del Salar de Pampa Blanca, Sierra Gorda	Chile	Peso	Other related parties
N/A	Ara Cinco Primera del Salar de Pampa Blanca, Sierra Gorda	Chile	Peso	Other related parties
N/A	Curicó Dos Primera del Salar de Pampa Alta, Sierra Gorda	Chile	Peso	Other related parties
N/A	Curicó Tres Primera del Sector de Pampa Alta, Sierra Gorda	Chile	Peso	Other related parties
N/A	Evelyn Veinticuatro Primera de Sierra Gorda	Chile	Peso	Other related parties
N/A	Filomena Tres Primera de Oficina Filomena, Sierra Gorda	Chile	Peso	Other related parties
N/A	Filomena Cuatro Primera de Oficina Filomena, Sierra Gorda	Chile	Peso	Other related parties
N/A	Francis Cuatro Primera de Pampa Blanca, Sierra Gorda	Chile	Peso	Other related parties
N/A	Francis Cuatro Segunda del Salar de Pampa Blanca, Sierra Gorda	Chile	Peso	Other related parties
N/A	Francis Cuatro Tercera de Pampa Blanca, Sierra Gorda	Chile	Peso	Other related parties
N/A	Francis Cuatro Cuarta de Pampa Blanca, Sierra Gorda	Chile	Peso	Other related parties
N/A	Francis Cuatro Quinta de Pampa Blanca, Sierra Gorda	Chile	Peso	Other related parties
N/A	Francis Primera del Salar de Pampa Blanca de Sierra Gorda	Chile	Peso	Other related parties
N/A	Francis Segunda del Salar de Pampa Blanca de Sierra Gorda	Chile	Peso	Other related parties
N/A	Francis Tercera del Salar de Pampa Blanca de Sierra Gorda	Chile	Peso	Other related parties
N/A	Ivon Primera de Sierra Gorda	Chile	Peso	Other related parties
N/A	Ivon Décima Segunda de Sierra Gorda	Chile	Peso	Other related parties
N/A	Ivon Sexta de Sierra Gorda	Chile	Peso	Other related parties
N/A	Julia Primera de Sierra Gorda	Chile	Peso	Other related parties
N/A	Lorena Trigésimo Quinta de Sierra Gorda	Chile	Peso	Other related parties
N/A	Perseverancia Primera de Sierra Gorda	Chile	Peso	Other related parties
N/A	Tamara 40 Primera del Sector S.E. OF. Concepción, Sierra Gorda	Chile	Peso	Other related parties
N/A	Tamara Tercera de Oficina Concepción, Sierra Gorda	Chile	Peso	Other related parties
N/A	Tamara 4 Segunda del Sector S.E. OF Concepción, Sierra Gorda	Chile	Peso	Other related parties

Schedule of transactions with entities who are affiliated to the key managerial personnel

Below is a list of transactions with clients and suppliers with whom a relationship with key Company personnel was identified:


Tax ID No	Name	Country of origin	Nature
76.389.727-3	Sociedad Periodística El Libero	Chile	Other related parties
90.193.000-7	El Mercurio S.A.P.	Chile	Other related parties
92.580.000-7	Empresa Nacional de Telecomunicaciones S.A.	Chile	Other related parties
96.806.980-2	Entel PCS Telecomunicaciones S.A.	Chile	Other related parties
97.004.000-5	Banco de Chile	Chile	Other related parties
99.012.000-5	Compañía de Seguros de Vida Consorcio Nacional	Chile	Other related parties
10.581.580-8	Gonzalo Guerrero Yamamoto	Chile	Other related parties
96.529.340-K	Norte Grande S.A.	Chile	Other related parties
65.204.189-2	Fundación para el desarrollo social	Chile	Other related parties
82.135.600-8	Instituto Chileno administración empresas	Chile	Other related parties

Schedule of significant transactions with related parties

For the year ended December 31, 2022, 2021 and 2020, the detail of significant transactions with related parties is as follows

For the year ended

December

Tax ID No

Name

Nature

Country of origin

Transaction

31, 2022

31, 2021

31, 2020

ThUS$

Foreign

Doktor Tarsa Tarim Sanayi AS

Associate

Turkey

Sale of products

—

1,053

Foreign

Ajay Europe S.A.R.L.

Associate

France

Sale of products

45,205

35,597

23,162

Foreign

Ajay Europe S.A.R.L.

Associate

France

Dividends

1,778

992

1,197

Foreign

Ajay North America LL.C.

Associate

United States

Sale of products

41,814

27,763

20,259

Foreign

Ajay North America LL.C.

Associate

United States

Dividends

1,576

1,233

1,967

Foreign

Abu Dhabi Fertilizer Industries WWL

Associate

United Arab Emirates

Dividends

3,000

9,438

—

Foreign

Abu Dhabi Fertilizer Industries WWL

Associate

United Arab Emirates

Sale of products

—

Foreign

SQM Vitas Brasil Agroindustria

Other related parties

Brazil

Sale of products

51,748

79,086

41,341

Foreign

SQM Vitas Perú S.A.C.

Other related parties

Perú

Sale of products

58,077

17,016

17,723

Foreign

Coromandel SQM India

Joint venture

India

Sale of products

—

1,814

1,510

Foreign

SQM Star Qingdao Corp Nutrition Co., Ltd.

Joint venture

China

Dividends

—

2,223

Foreign

SQM Star Qingdao Corp Nutrition Co., Ltd.

Joint venture

China

Sale of products

—

Foreign

Terra Tarsa Ukraine LLC

Other related parties

Ukraine

Sale of products

—

737

Foreign

Pavoni & CPA

Joint venture

Italy

Sale of products

4,138

5,359

1,125

Foreign

Plantacote NV

Other related parties

Belgium

Sale of products

—

Foreign

Arpa Speciali S.R.L.

Other related parties

Italy

Sale of products

—

Foreign

Terra Tarsa Don LLC

Other related parties

Russian Federation

Sale of products

—

Foreign

SQM Eastmed Turkey

Associate

Turkey

Sale of products

—

Chile

Banco de Chile

Other related parties

Chile

Service Provider

(27,918)

(20,904)

—

Chile

Norte Grande S.A.

Other related parties

Chile

Client

142

146

—

Chile

El Mercurio S.A.P.

Other related parties

Chile

Service Provider

(90)

(131)

—

Chile

Compañía de Seguros de Vida Consorcio Nacional

Other related parties

Chile

Service Provider

(31)

(134)

—

Chile

Entel PCS Telecomunicaciones S.A.

Other related parties

Chile

Service Provider

(228)

(157)

—

Chile

Empresa Nacional de Telecomunicaciones

Other related parties

Chile

Service Provider

(1,746)

(2,393)

—

Chile

Gonzalo Guerrero Yamamoto

Other related parties

Chile

Service Provider

(19)

(79)

—

Chile

Instituto Chileno administración empresas

Other related parties

Chile

Service Provider

(46)

—

Chile

Fundación para el desarrollo social

Other related parties

Chile

Service Provider

(7)

—

Schedule of trade receivables due from related parties

11.5Trade receivables due from related parties, current:

As of

December 31,

Tax ID No

Name

Nature

Country of origin

Currency

2022

2021

ThUS$

Foreign

Ajay Europe S.A. R.L.

Associate

France

Euro

7,967

7,567

Foreign

Ajay North America LLC.

Associate

United States of America

Dollar

8,354

3,350

Foreign

Abu Dhabi Fertilizer Industries WWL

Associate

United Arab Emirates

United Arab Emirates Dirham

—

2,477

96.511.530-7

Soc. de Inversiones Pampa Calichera

Other related parties

Chile

Dollar

Foreign

SQM Vitas Brasil Agroindustria

Other related parties

Brazil

Dollar

32,054

55,119

Foreign

SQM Vitas Perú S.A.C.

Other related parties

Peru

Dollar

31,081

14,684

Foreign

SQM Vitas Fzco.

Joint venture

United Arab Emirates

United Arab Emirates Dirham

232

Foreign

Pavoni & C SpA

Joint venture

Italy

Euro

888

804

Foreign

Covalent Lithium Pty Ltd.

Joint venture

Australia

Australian dollar

1,041

1,914

Total

81,622

86,152

Financial instruments - Types of Financial Assets, Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2021
Financial instruments [Line Items]
Proceeds from the sale of equity instruments	$ 16,413
Term deposit One
Financial instruments [Line Items]
Assets Pledged as Collateral		$ 31,430

Income tax and deferred taxes - Reconciliation of Changes in Deferred Tax Liabilities (Assets) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Statement [Line Items]
Deferred tax assets and liabilities, net opening balance	$ 110,416	$ 156,101
Increase (decrease) in deferred taxes in profit or loss	(430,978)	(27,763)
Deferred taxes related to items credited (charged) directly to equity	5,916	(17,922)
Total increases (decreases) in deferred tax liabilities (assets)	(425,062)	(45,685)
Deferred tax assets and liabilities, net end of period	(314,646)	110,416
Unrealized loss
Statement [Line Items]
Deferred tax assets and liabilities, net opening balance	(144,181)	(90,585)
Increase (decrease) in deferred taxes in profit or loss	(511,514)	(53,596)
Deferred taxes related to items credited (charged) directly to equity	0	0
Total increases (decreases) in deferred tax liabilities (assets)	(511,514)	(53,596)
Deferred tax assets and liabilities, net end of period	(655,695)	(144,181)
Property, plant and equipment and capitalized interest
Statement [Line Items]
Deferred tax assets and liabilities, net opening balance	189,073	187,168
Increase (decrease) in deferred taxes in profit or loss	55,487	1,905
Deferred taxes related to items credited (charged) directly to equity	0	0
Total increases (decreases) in deferred tax liabilities (assets)	55,487	1,905
Deferred tax assets and liabilities, net end of period	244,560	189,073
Restoration and rehabilitation provision
Statement [Line Items]
Deferred tax assets and liabilities, net opening balance	(6,567)
Increase (decrease) in deferred taxes in profit or loss	1,882
Deferred taxes related to items credited (charged) directly to equity	0
Total increases (decreases) in deferred tax liabilities (assets)	1,882
Deferred tax assets and liabilities, net end of period	(4,685)	(6,567)
Facility closure provision
Statement [Line Items]
Deferred tax assets and liabilities, net opening balance	(6,567)	(6,597)
Increase (decrease) in deferred taxes in profit or loss		30
Deferred taxes related to items credited (charged) directly to equity		0
Total increases (decreases) in deferred tax liabilities (assets)		30
Deferred tax assets and liabilities, net end of period		(6,567)
Manufacturing expenses
Statement [Line Items]
Deferred tax assets and liabilities, net opening balance	108,181	107,215
Increase (decrease) in deferred taxes in profit or loss	31,202	966
Deferred taxes related to items credited (charged) directly to equity	0	0
Total increases (decreases) in deferred tax liabilities (assets)	31,202	966
Deferred tax assets and liabilities, net end of period	139,383	108,181
Employee benefits and unemployment insurance
Statement [Line Items]
Deferred tax assets and liabilities, net opening balance	7,486	6,669
Increase (decrease) in deferred taxes in profit or loss	2,779	687
Deferred taxes related to items credited (charged) directly to equity	(1,270)	130
Total increases (decreases) in deferred tax liabilities (assets)	1,509	817
Deferred tax assets and liabilities, net end of period	8,995	7,486
Vacation accrual
Statement [Line Items]
Deferred tax assets and liabilities, net opening balance	(6,039)	(6,138)
Increase (decrease) in deferred taxes in profit or loss	(1,611)	99
Deferred taxes related to items credited (charged) directly to equity	0	0
Total increases (decreases) in deferred tax liabilities (assets)	(1,611)	99
Deferred tax assets and liabilities, net end of period	(7,650)	(6,039)
Inventory provision
Statement [Line Items]
Deferred tax assets and liabilities, net opening balance	(20,557)	(22,200)
Increase (decrease) in deferred taxes in profit or loss	(6,955)	1,643
Deferred taxes related to items credited (charged) directly to equity	0	0
Total increases (decreases) in deferred tax liabilities (assets)	(6,955)	1,643
Deferred tax assets and liabilities, net end of period	(27,512)	(20,557)
Materials provision
Statement [Line Items]
Deferred tax assets and liabilities, net opening balance	(10,554)	(8,812)
Increase (decrease) in deferred taxes in profit or loss	(1,361)	(1,742)
Deferred taxes related to items credited (charged) directly to equity	0	0
Total increases (decreases) in deferred tax liabilities (assets)	(1,361)	(1,742)
Deferred tax assets and liabilities, net end of period	(11,915)	(10,554)
Derivative financial instruments
Statement [Line Items]
Deferred tax assets and liabilities, net opening balance	0	0
Increase (decrease) in deferred taxes in profit or loss	(7,172)	14,246
Deferred taxes related to items credited (charged) directly to equity	7,172	(14,246)
Total increases (decreases) in deferred tax liabilities (assets)	0	0
Deferred tax assets and liabilities, net end of period	0	0
Other employee benefits
Statement [Line Items]
Deferred tax assets and liabilities, net opening balance	(929)	0
Increase (decrease) in deferred taxes in profit or loss	(248)	(929)
Deferred taxes related to items credited (charged) directly to equity	0	0
Total increases (decreases) in deferred tax liabilities (assets)	(248)	(929)
Deferred tax assets and liabilities, net end of period	(1,177)	(929)
Research and development expenses
Statement [Line Items]
Deferred tax assets and liabilities, net opening balance	5,387	3,581
Increase (decrease) in deferred taxes in profit or loss	6,907	1,806
Deferred taxes related to items credited (charged) directly to equity	0	0
Total increases (decreases) in deferred tax liabilities (assets)	6,907	1,806
Deferred tax assets and liabilities, net end of period	12,294	5,387
Bad debt provision
Statement [Line Items]
Deferred tax assets and liabilities, net opening balance	(2,708)	(5,072)
Increase (decrease) in deferred taxes in profit or loss	1,993	2,364
Deferred taxes related to items credited (charged) directly to equity	0	0
Total increases (decreases) in deferred tax liabilities (assets)	1,993	2,364
Deferred tax assets and liabilities, net end of period	(715)	(2,708)
Provision for legal complaints and expenses
Statement [Line Items]
Deferred tax assets and liabilities, net opening balance	(334)	(19,637)
Increase (decrease) in deferred taxes in profit or loss	(6,493)	19,303
Deferred taxes related to items credited (charged) directly to equity	0	0
Total increases (decreases) in deferred tax liabilities (assets)	(6,493)	19,303
Deferred tax assets and liabilities, net end of period	(6,827)	(334)
Loan approval expenses
Statement [Line Items]
Deferred tax assets and liabilities, net opening balance	8,967	5,212
Increase (decrease) in deferred taxes in profit or loss	(174)	3,755
Deferred taxes related to items credited (charged) directly to equity	0	0
Total increases (decreases) in deferred tax liabilities (assets)	(174)	3,755
Deferred tax assets and liabilities, net end of period	8,793	8,967
Junior mining companies valued based on stock price
Statement [Line Items]
Deferred tax assets and liabilities, net opening balance	(5,243)	3,929
Increase (decrease) in deferred taxes in profit or loss	0	(5,354)
Deferred taxes related to items credited (charged) directly to equity	17	(3,818)
Total increases (decreases) in deferred tax liabilities (assets)	17	(9,172)
Deferred tax assets and liabilities, net end of period	(5,226)	(5,243)
Royality
Statement [Line Items]
Deferred tax assets and liabilities, net opening balance	4,545	3,012
Increase (decrease) in deferred taxes in profit or loss	1,257	1,521
Deferred taxes related to items credited (charged) directly to equity	(3)	12
Total increases (decreases) in deferred tax liabilities (assets)	1,254	1,533
Deferred tax assets and liabilities, net end of period	5,799	4,545
Tax loss benefit
Statement [Line Items]
Deferred tax assets and liabilities, net opening balance	(7,113)	(844)
Increase (decrease) in deferred taxes in profit or loss	(1,502)	(6,269)
Deferred taxes related to items credited (charged) directly to equity	0	0
Total increases (decreases) in deferred tax liabilities (assets)	(1,502)	(6,269)
Deferred tax assets and liabilities, net end of period	(8,615)	(7,113)
Other
Statement [Line Items]
Deferred tax assets and liabilities, net opening balance	(8,862)	(1,454)
Increase (decrease) in deferred taxes in profit or loss	(7,187)	(7,408)
Deferred taxes related to items credited (charged) directly to equity	0	0
Total increases (decreases) in deferred tax liabilities (assets)	(7,187)	(7,408)
Deferred tax assets and liabilities, net end of period	(16,049)	(8,862)
Foreign items (other)
Statement [Line Items]
Deferred tax assets and liabilities, net opening balance	(136)	654
Increase (decrease) in deferred taxes in profit or loss	11,732	(790)
Deferred taxes related to items credited (charged) directly to equity	0	0
Total increases (decreases) in deferred tax liabilities (assets)	11,732	(790)
Deferred tax assets and liabilities, net end of period	$ 11,596	$ (136)

Disclosures on equity - Non-controlling Interests (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Noncontrolling interests Explanatory [Line Items]
Profit (loss), attributable to non-controlling interests	$ 7,973	$ 6,751	$ 3,841
Equity, noncontrolling interests	35,369	34,451
Dividends paid to non-controlling interests	$ 7,370	12,408
SQM Potasio S.A.
Disclosure Of Noncontrolling interests Explanatory [Line Items]
Proportion of ownership interests held by non-controlling interests	0.00%
Profit (loss), attributable to non-controlling interests	$ 0	0
Equity, noncontrolling interests	0	0
Dividends paid to non-controlling interests	$ 0	0
Ajay SQM Chile S.A.
Disclosure Of Noncontrolling interests Explanatory [Line Items]
Proportion of ownership interests held by non-controlling interests	4900000.00%
Profit (loss), attributable to non-controlling interests	$ 2,415	769
Equity, noncontrolling interests	8,986	8,382
Dividends paid to non-controlling interests	$ 1,812	577
Soquimich Comercial S.A.
Disclosure Of Noncontrolling interests Explanatory [Line Items]
Proportion of ownership interests held by non-controlling interests	3936168.00%
Profit (loss), attributable to non-controlling interests	$ 5,558	5,926
Equity, noncontrolling interests	26,383	26,665
Dividends paid to non-controlling interests	$ 5,558	11,831
Comercial Agrorama Ltda.
Disclosure Of Noncontrolling interests Explanatory [Line Items]
Proportion of ownership interests held by non-controlling interests	3000000.00%
Profit (loss), attributable to non-controlling interests	$ 0	56
Equity, noncontrolling interests	0	(596)
Dividends paid to non-controlling interests	$ 0	0
SQM Indonesia S.A.
Disclosure Of Noncontrolling interests Explanatory [Line Items]
Proportion of ownership interests held by non-controlling interests	2000000.00%
Profit (loss), attributable to non-controlling interests	$ 0	0
Equity, noncontrolling interests	0	0
Dividends paid to non-controlling interests	$ 0	0
SQM Thailand Limited
Disclosure Of Noncontrolling interests Explanatory [Line Items]
Proportion of ownership interests held by non-controlling interests	0.002%
Profit (loss), attributable to non-controlling interests	$ 0	0
Equity, noncontrolling interests	0	0
Dividends paid to non-controlling interests	$ 0	$ 0

Significant accounting policies (Tables)

12 Months Ended

Dec. 31, 2022

Significant accounting policies

Schedule of foreign exchange rates used to translate monetary items

The main exchange rates and UF used to translate monetary assets and liabilities, expressed in foreign currency at the end and average of each period in respect to U.S. dollars, are as follows:



	Closing exchange rates		Average exchange rates
	As of	As of	As of	As of
	December 31,	December 31,	December 31,	December 31,
Currencies	2022	2021	2022	2021
	ThUS$	ThUS$	ThUS$	ThUS$
Brazilian real	5.28	5.57	5.25	5.66
New Peruvian sol	3.81	3.99	3.83	4.04
Japanese yen	131.32	115.18	134.70	113.87
Euro	0.93	0.88	0.94	0.88
Mexican peso	19.50	20.54	19.60	20.90
Australian dollar	1.47	1.38	1.48	1.40
Pound Sterling	0.83	0.74	0.82	0.75
South African rand	17.01	15.94	17.28	15.88
Chilean peso	855.86	844.69	873.81	849.46
Chinese yuan	6.92	6.38	6.98	6.37
Indian rupee	82.73	74.42	82.52	75.40
Thai Baht	34.64	33.32	34.76	33.55
Turkish lira	18.71	13.28	18.66	13.54
Korean Won	1,259.98	1,188.79	1,291.64	1,183.95
Indonesian Rupiah	15,570.00	14,265.00	15,596.90	14,320.57
United Arab Emirates dirham	3.67	3.67	3.67	3.67
Polish Zloty	4.37	4.06	4.42	4.08
UF (*)	41.02	36.69	40.18	36.48

Schedule of useful lives of property, plant and equipment

The useful lives used for the depreciation and amortization of assets included in property, plant and equipment in years are presented below:


	Minimum life or	Maximum life or	Life or average rate
Classes of property, plant and equipment	rate (years)	rate (years)	in years
Mining assets	3	10	8
Energy generating assets	5	16	10
Buildings	3	25	13
Supplies and accessories	4	10	8
Office equipment	5	10	9
Transport equipment	8	9	9
Network and communication equipment	4	12	8
IT equipment	5	10	8
Machinery, plant and equipment	3	25	10
Other fixed assets	3	15	9

Schedule of useful lives of intangible assets

Minimum and maximum amortization lives or rates of intangible assets:


	Minimum Life or	Maximum Life or
Estimated useful life or amortization rate	Rate	Rate
Water rights	5 years	Indefinite
Rights of way	Indefinite	Indefinite
Corfo Mining properties (1)	8 years	8 years
Mining rights	Unit-production method
Intellectual property	9 years	9 years
IT programs	3 years	9 years

Schedule of basic and diluted earnings per share


	For the year ended December 31
Earnings per Share	2022	2021	2020
Profit attributable to the owners of the parent (ThUS$)	3,906,311	585,454	164,518
Weighted average number of shares	285,638,456	278,157,812	263,196,524
Basic earnings per share (US$)	13.6757	2.1048	0.6251
Profit attributable to the owners of the parent (ThUS$)	3,906,311	585,454	164,518
Weighted average number of shares	285,638,456	278,157,812	263,196,524
Diluted earnings per share (US$)	13.6757	2.1048	0.6251

Series A common shares	142,819,552	142,819,552	142,819,552
Series B common shares	142,818,904	135,338,260	120,376,972
Total weighted average number of shares	285,638,456	278,157,812	263,196,524

Disclosures on equity - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands								12 Months Ended
	Nov. 21, 2022	Aug. 17, 2022	May 18, 2022	Apr. 26, 2022	Dec. 22, 2021	Aug. 18, 2021	May 19, 2021	Dec. 31, 2022	Dec. 31, 2021
Disclosure of Disclosures on equity [Line Items]
Interim dividend per share	$ 3.08056	$ 1.84914	$ 2.78716		$ 1.40037	$ 0.31439	$ 0.23797
Final dividend per share				$ 0.09691
Minimum percentage required to call ordinary or extraordinary meeting								50.00%
Number of consecutive limitation period of series B shares								50 years
Contractual capital commitments								$ 0
Final dividend as per policy
Disclosure of Disclosures on equity [Line Items]
Final dividend per share				$ 2.04964
Minimum
Disclosure of Disclosures on equity [Line Items]
Cash dividend rate								30.00%	30.00%

Significant accounting policies

12 Months Ended

Dec. 31, 2022

Significant accounting policies

Significant accounting policies

Note 3Significant accounting policies

3.1	Classification of balances as current and non-current

In the consolidated statement of financial position, balances are classified in consideration of their recovery (maturity) dates; i.e., those maturing within a period equal to or less than 12 months are classified as current counted from the closing date of the consolidated financial statements and those with maturity dates exceeding the aforementioned period are classified as non-current.

The exception to the foregoing relates to deferred taxes, which are classified as non-current, regardless of the maturity they have.

3.2	Functional and presentation currency

The Company’s consolidated financial statements are presented in United States dollars, without decimal places, which is the Company’s functional and presentation currency and is the currency of the main economic environment in which it operates. Consequently, the term foreign currency is defined as any currency other than the U.S. dollar.

3.3	Accounting policy for foreign currency translation

(a)	SQM group entities:

The revenue, expenses, assets and liabilities of all entities that have a functional currency other than the presentation currency are converted to the presentation currency as follows:

-	Assets and liabilities are converted at the closing exchange rate prevailing on the reporting date.

-	Revenues and expenses of each profit or loss account are converted at monthly average exchange rates.

-	All resulting foreign currency translation gains and losses are recognized as a separate component in translation reserves.

In consolidation, foreign currency differences arising from the translation of a net investment in foreign entities are recorded in shareholder’s equity (“foreign currency translation reserve”). At the date of disposal, such foreign currency translation differences are recognized in the statement of income as part of the gain or loss from the sale.

The main exchange rates and UF used to translate monetary assets and liabilities, expressed in foreign currency at the end and average of each period in respect to U.S. dollars, are as follows:



	Closing exchange rates		Average exchange rates
	As of	As of	As of	As of
	December 31,	December 31,	December 31,	December 31,
Currencies	2022	2021	2022	2021
	ThUS$	ThUS$	ThUS$	ThUS$
Brazilian real	5.28	5.57	5.25	5.66
New Peruvian sol	3.81	3.99	3.83	4.04
Japanese yen	131.32	115.18	134.70	113.87
Euro	0.93	0.88	0.94	0.88
Mexican peso	19.50	20.54	19.60	20.90
Australian dollar	1.47	1.38	1.48	1.40
Pound Sterling	0.83	0.74	0.82	0.75
South African rand	17.01	15.94	17.28	15.88
Chilean peso	855.86	844.69	873.81	849.46
Chinese yuan	6.92	6.38	6.98	6.37
Indian rupee	82.73	74.42	82.52	75.40
Thai Baht	34.64	33.32	34.76	33.55
Turkish lira	18.71	13.28	18.66	13.54
Korean Won	1,259.98	1,188.79	1,291.64	1,183.95
Indonesian Rupiah	15,570.00	14,265.00	15,596.90	14,320.57
United Arab Emirates dirham	3.67	3.67	3.67	3.67
Polish Zloty	4.37	4.06	4.42	4.08
UF (*)	41.02	36.69	40.18	36.48

(*)	US$ per UF

(b)	Transactions and balances

The Company’s non-monetary transactions in currencies other than the functional currency (Dollar) are translated to the respective functional currencies of Group entities at the exchange rate on the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the reporting date are retranslated to the functional currency at the exchange rate at that date. All differences are recorded in the statement of income except for all monetary items that provide an effective hedge for a net investment in a foreign operation. These items are recognized in other comprehensive income until disposal of the investment, when they are recognized in the statement of income. Charges and credits attributable to foreign currency translation differences on those hedge monetary items are also recognized in other comprehensive income.

Non-monetary assets and liabilities that are measured at historical cost in a foreign currency are retranslated to the functional currency at the historical exchange rate of the transaction. Non-monetary items that are measured based on fair value in a foreign currency are translated using the exchange rate at the date on which the fair value is determined.

3.4Consolidated statement of cash flows

Cash equivalents correspond to highly liquid short-term investments that are easily convertible into known amounts of cash and subject to insignificant risk of changes in their value and mature in less than three months from the date of acquisition of the instrument.

For the purposes of the statement of cash flows, cash and cash equivalents comprise cash and cash equivalents as defined above.

The statement of cash flows present cash transactions performed during the period, determined using the direct method.

3.5Financial assets

Management determines the classification of its financial assets at fair value (either through other comprehensive income, or through profit or loss), and at amortized cost. The classification depends on the business model of the entity to manage the financial assets and the contractual terms of the cash flows.

The initial value of the Company's financial assets valued at fair value through comprehensive income includes the transaction costs that are directly attributable to acquiring that financial asset on the date the Company commits to acquiring it, whereas the transaction costs for financial assets valued at fair value through profit or loss are expensed. The initial value of trade and other receivables that do not include a significant financial component is their transaction price.

After initial recognition, the Company measures its financial assets according to the Company’s business model for managing its financial assets and the contractual terms of its cash flows:

(a)

Financial debt instruments measured at amortized cost. Financial assets that meet the following conditions are included in this category (i) the business model that supports it aims to maintain the financial assets to obtain the contractual cash flows and the contractual conditions of the financial asset give place, on specified dates, to cash flows that are only payments of the principal and interest on the outstanding principal amount. The Company’s financial assets that meet these conditions are: (ii) cash equivalents; (iii) related party receivables; (iv) trade debtors; (v) other receivables.

(b)	Financial instruments at fair value. A financial asset should be measured at fair value through profit or loss or fair value through other comprehensive income, depending on the following:

(i)

"Fair Value Through Other Comprehensive Income": Assets held to collect contractual cash flows and to be sold, where the asset cash flows are only capital and interest payments, are measured at fair value through other comprehensive income. Changes in book values are through other comprehensive income, except for the recognition of impairment losses, interest income and exchange gains and losses, which are recognized in the income statement. When a financial asset is derecognized, the cumulative gain or loss previously recognized in other comprehensive income is reclassified from equity to the income statement. Interest income from these financial assets is included in financial income using the effective interest method.

(ii)

"Fair Value Through Profit and Loss": Assets that do not meet the amortized cost or "Fair Value Through Other Comprehensive Income" criteria are valued at "Fair Value Through Profit and Loss".

(c)

Financial equity instruments at fair value through other comprehensive income. Equity instruments that are not classified as held for trading and which the Group has irrevocably chosen to recognize in this category. Amounts presented in other comprehensive income will not be subsequently transferred to profit or loss.

3.6Financial assets impairment

The Company evaluates expected credit losses associated with its debt instruments carried at amortized cost and fair value through other comprehensive income. The impairment method used depends on whether there has been a significant increase in credit risk.

The Company applies simplified approach to measure expected credit losses using the lifetime expected loss on all trade receivables. Expected credit losses are measured by grouping receivables by their shared credit risk characteristics and days overdue.

The Company has concluded that the expected loss rates for trade receivables are a reasonable approximation of the loss rates for contract assets. Expected loss rates are based on sales payment profiles and historical credit losses within this period. Historical loss rates are adjusted to reflect current expectations and information regarding macroeconomic factors that affect the ability of customers to meet their commitments.

Impairment losses from receivables and contract assets are shown as net impairment losses in the line “Impairment of financial assets and reversal of impairment losses,” see Note 21.7. The subsequent recovery of previously canceled amounts are credited to the same line.

3.7Financial liabilities

Management accounts for its financial liabilities at amortized cost.

Upon initial recognition, the Company measures its financial liabilities by their fair value less the transaction costs that are directly attributable to the acquisition of the financial liability. The Company subsequently measures its financial liabilities at amortized cost.

Financial liabilities measured at amortized cost are commercial accounts payable and other accounts payable and other financial liabilities.

Amortized cost is based using the effective interest rate method. Amortized cost is calculated by considering any premium or discount on the acquisition and includes transaction costs that are an integral part of the effective interest rate.

3.8Estimated fair value of financial instruments

The fair value of financial assets and liabilities is estimated using the following information. Although the data represent Management's best estimates, it is subjective and involves significant estimates regarding current economic conditions, market conditions and risk characteristics.

Methodologies and assumptions used depend on the risk terms and characteristics of instruments and include the following as a summary:

Fair value estimation

Financial assets and liabilities measured at fair value consist of forwards hedging the mismatch in the balance sheet and cash flows, options hedging the mismatch in the balance sheet and cross currency swaps to hedge bonds issued in local currency (Peso/UF).

The fair value of the Company’s assets and liabilities recognized by cross currency swaps contracts is calculated as the difference between the present value of discounted cash flows of the asset (Peso/UF) and liability (Dollar) parts of the derivative. In the case of the IRS, the asset value recognized is calculated as the difference between the discounted cash flows of the asset (variable rate) and liability (fixed rate) parts of the derivative. Forwards are calculated as the difference between the strike price of the contract and the spot price plus the forwards points at the date of the contract. Financial options: the value recognized is calculated using the Black-Scholes method.

In the case of CCS, the entry data used for the valuation models are UF, Peso, Dollar and basis swap rates. In the case of fair value calculations for interest rate swaps, the Forward Rate Agreement rate and ICVS 23 Curve (Bloomberg: cash/deposits rates, futures, swaps). In the case of forwards, the forwards curve for the currency in question is used. Finally, for options, the spot price, risk-free rate and volatility of exchange rate are used, all in accordance with the currencies used in each valuation. The financial information used as entry data for the Company’s valuation models is obtained from Bloomberg, the well-known financial software company. Conversely, the fair value provided by the counterparties of derivatives contracts is used only as a control and not for valuation.

The effects on profit or loss of movements in these amounts is recognized in the caption finance costs, foreign currency translation gain (loss) or cash flow hedge reserve in the statement of comprehensive income, depending on each particular case.

Estimate of fair value for disclosure purposes

●

Cash equivalent approximates fair value due to the short-term maturities of these instruments.

●

The fair value of current trade receivables is considered to be equal to the carrying amount due to the maturity of such accounts at short-term.

●

Payables, current lease liabilities and other current financial liabilities are considered fair value equal to book value due to the short-term maturity of these accounts.

●

The fair value of the debt (long-term secured and unsecured debentures; bonds denominated in local currency (Peso/UF) and foreign currency (Dollar), borrowings denominated in foreign currency (Dollar) and lease liabilities of the Company are calculated at current value of cash flows subtracted from market rates upon valuation, considering the terms of maturity and exchange rates. The UF and Peso rate curves are used as inputs for the valuation model. This information is obtained through from the renowned financial software company, Bloomberg, and the Chilean Association of Banks and Financial Institutions

3.9Reclassification of financial instruments

When the Company changes its business model for managing financial assets, it will reclassify all its financial assets affected by the new business model. Financial liabilities cannot be reclassified.

3.10Financial instruments derecognition

The Company derecognizes a financial asset when the contractual rights to the cash flows from the asset expire, or it transfers the rights to receive the contractual cash flows in a transaction in which substantially all the risks and rewards of ownership of the financial asset are transferred; and the control of the financial assets has not been retained.

The Company derecognizes a financial liability when its contractual obligations or a part of these are discharged, paid to the creditor or legally extinguished from the principle responsibility contained in the liability.

3.11Derivative and hedging financial instruments

The financial instruments derivatives are recognized initially at fair value as of the date on which the derivatives contract is signed and, they are subsequently assessed at fair value. The method for recognizing the resulting gain or loss depends on whether the derivative has been designated as an accounting hedge instrument and, if so, it depends on the type of hedging, which may be as follows:

Fair value hedge of assets and liabilities recognized (fair value hedges).

Hedging of a single risk associated with a recognized asset or liability or a highly probable forecast transaction (cash flow hedge).

At the beginning of the transaction, the Company documents the relationship that exists between hedging instruments and those items hedged, as well as their objectives for risk management purposes and the strategy to conduct different hedging operations.

The Company also documents its evaluation both at the beginning and at the end of each period if the derivatives used in hedging transactions are highly effective to offset changes in the fair value or in cash flows of hedged items.

The fair value of derivative instruments used for hedging purposes is shown in Note 12.3.

Derivatives that are not designated or do not qualify as hedging derivatives are classified as current assets or liabilities, and changes in the fair value are directly recognized through profit or loss.

Fair value hedge

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recorded in profit or loss, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk. The gain or loss relating to the effective portion of interest rate swaps that hedge fixed rate borrowings is recognized in profit or loss within finance costs, together with changes in the fair value of the hedged fixed rate borrowings attributable to interest rate risk. The gain or loss relating to the ineffective portion is recognized in profit or loss within other income or other expenses. If the hedge no longer meets the criteria for hedge accounting, the adjustment to the carrying amount of a hedged

item for which the effective interest method is used is amortized to profit or loss over the period to maturity using a recalculated effective interest rate.

b)Cash flow hedges

The effective portion of the gain or loss on the hedging instrument is initially recognized with a debit or credit to other comprehensive income, while any ineffective portion is immediately recognized to income, as appropriate, depending on the nature of the hedged risk. The amounts accumulated in other comprehensive income are carried over to results when the hedged items are settled or when these have an impact on income.

When a hedging instrument no longer meets the criteria for hedge accounting, any cumulative deferred gain or loss and deferred costs of hedging in equity at that time remains in equity until the forecast transaction occurs.

When the forecast transaction is no longer expected to occur, the cumulative gain or loss and deferred costs of hedging that were reported in other comprehensive income are immediately reclassified to profit or loss.

3.12Derivative financial instruments not considered as hedges

Derivative financial instruments not considered as hedges are recognized at fair value with the effect in the profit of the year. The Company has derivative financial instruments to hedge foreign currency risk exposure.

The Company continually evaluates the existence of embedded derivatives in both its contracts and in its financial instruments. As of December 31, 2022, and 2021, the Company does not have any embedded derivatives.

3.13Deferred acquisition cost from insurance contracts

Acquisition costs from insurance contracts are classified as prepayments and correspond to insurance contracts in force, recognized using the straight-line method and on an accrual basis independent of payment date. These are recognized under other non-financial assets current.

3.14 Leases

(a)	Right-of-use assets

The Company recognizes right-of-use assets on the initial lease date (i.e., the date on which the underlying asset is available for use). Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, adjusted by any new measurement of the lease liability. The cost of right-of-use assets includes the amount of recognized lease liabilities, direct initial costs incurred and lease payments made on the start date or sooner, less the lease incentives received. Unless the Company is reasonably sure it will take ownership of the leased asset at the end of the lease period, the assets recognized through right-of-use are depreciated in a straight line during the shortest period of their estimated useful life and lease period. Right-of-use assets are subject to impairment.

(b)	Lease liabilities

On the lease start date, the Company recognizes lease liabilities measured at present value of lease payments that will be made during the lease period. Lease payments include fixed payments (including payments that are essentially fixed), less incentives for lease receivables, variable lease payments that are dependent on an index or rate and amounts that are expected to be paid as guaranteed residual value. Lease payments also include the exercise price of a purchase option if the Company is reasonably sure it will exercise this and penalty payments for terminating a lease, if the lease period reflects that the Company will exercise the option to terminate. Variable lease payments that are not dependent on an index or rate are recognized as expenses in the period that produces the event or condition that triggers payment.

When calculating the present value of lease payments, the Company uses the incremental borrowing rate on the initial lease date if the interest rate implicit in the lease cannot be determined easily. After the start date, the lease liability balance will increase to reflect the accumulation of interest and will diminish as lease payments are made. Furthermore, the book value of lease liabilities is remeasured in the event of an amendment, a change in the lease period, a change in the fixed lease payments in substance or a change in the assessment to buy the underlying asset.

Payments made that affect lease liabilities are presented as part of the financing activities in the cash flow statement.

(c)	Short-term leases and low-value asset leases

The Company applies the short-term lease recognition exemption to leases with a lease term of 12 months or less starting on the start date and that don’t have a purchase option. It also applies the low-value asset lease recognition exemptions to leases less than the limit specified in the respective accounting standard. Lease payments in short-term leases and low-value asset leases are recognized as lineal expenses during the lease term.

(d)	Significant judgments in the determination of the lease term for contracts with renewal options.

The Company determines the lease term as the non-cancellable period of the lease, together with periods covered by an option to extend the lease if it is reasonably certain that this will be exercised, or any period covered by an option to terminate the lease, if it is reasonably certain that this will not be exercised.

The Company has the option, under some of its leases, to lease assets for additional terms. The Company applies its judgment when assessing whether it is reasonably certain that it will exercise the option to renovate. In other words, it considers all the relevant factors that create an economic incentive for it to exercise the option to renovate. After the start date, the Company reevaluates the lease term if there is a significant event or change in the circumstances that are under its control and affect its capacity to exercise (or not exercise) the option to renovate.

3.15Inventory measurement

The method used to determine the cost of inventories is the weighted average monthly cost of warehouse storage. In determining production costs for own products, the company includes the costs of labor, raw materials, materials and supplies used in production, depreciation and maintenance of the goods that participate in the production process, the costs of product movement necessary to maintain stock on location and in the condition in which they are found, and also includes the indirect costs of each task such as laboratories, process and planning areas, and personnel expenses related to production, among others.

For finished and in-process products, the company has four types of provisions, which are reviewed quarterly:

(a)

Provision associated with the lower value of stock: The provision is directly identified with the product that generates it and involves three types: (i) provision of lower realizable value, which corresponds to the difference between the inventory cost of intermediary or finished products, and the sale price minus the necessary costs to bring them to the same conditions and location as the product with which they are compared; (ii) provision for future uncertain use that corresponds to the value of those products in process that are likely not going to be used in sales based on the company’s long-term plans; (iii) reprocessing costs of products that are unfeasible for sale due to current specifications.

(b)

Provision associated with physical differences in inventory: A provision is made for differences that exceed the tolerance considered in the respective inventory process (physical and annual inventories are taken for the productive units in Chile and the port of Tocopilla; the business subsidiaries depend on the last zero ground obtained, but in general it is at least once a year), these differences are recognized immediately.

(c)

Potential errors in the determination of stock: The company has an algorithm that is reviewed at least once a year and corresponds to diverse percentages assigned to each inventory based on the product, location, complexity involved in the associated measurement, rotation and control mechanisms.

(d)

Provisions undertaken by business subsidiaries: these are historical percentages that are adjusted as zero ground is attained based on normal inventory management.

Inventories of raw materials, materials and supplies for production are recorded at acquisition cost. Cyclical inventories are performed in warehouses, as well as general inventories every three years. Differences are recognized at the moment

they are detected. The company has a provision based on quarterly calculations from percentages associated with each type of material (classification by warehouse and rotation), these percentages use the lower value resulting from deterioration or obsolescence as well as potential losses. This provision is reviewed at least annually, and considers the historical profit and loss obtained in the inventory processes.

3.16Non-controlling interests

Non-controlling interests are recorded in the consolidated statement of financial position within equity but separate from equity attributable to the owners of the Parent.

3.17Related party transactions

Transactions between the Company and its subsidiaries are part of the Company’s normal operations within its scope of business activities. Conditions for such transactions are those normally effective for those types of operations with regard to terms and market prices. The maturity conditions vary according to the originating transaction.

3.18Property, plant and equipment

Property, plant and equipment are stated at acquisition cost, net of the related accumulated depreciation, amortization and impairment losses that they might have experienced.

In addition to the price paid for the acquisition of tangible property, plant and equipment, the Company has considered the following concepts as part of the acquisition cost, as applicable:

(a)

Accrued interest expenses during the construction period that are directly attributable to the acquisition, construction or production of qualifying assets, which are those that require a substantial period prior to being ready for use. The interest rate used is that related to the project’s specific financing or, should this not exist, the average financing rate of the investor company.

(b)

The future costs that the Company will have to experience, related to the closure of its facilities at the end of their useful life, are included at the present value of disbursements expected to be required to settle the and its subsequent variation is recorded directly in results.

Having initially recognized provisions for closure and refurbishment, the corresponding cost is capitalized as an asset in “Property, plant and equipment” and amortized in line with the amortization criteria for the associated assets.

Construction-in-progress is transferred to property, plant and equipment in operation once the assets are available for use and the related depreciation and amortization begins on that date.

Extension, modernization or improvement costs that represent an increase in productivity, ability or efficiency or an extension of the useful lives of property, plant and equipment are capitalized as a higher cost of the related assets. All the remaining maintenance, preservation and repair expenses are charged to expense as they are incurred.

The replacement of assets, which increase the asset’s useful life or its economic capacity, are recorded as a higher value of property, plant and equipment with the related derecognition of replaced or renewed elements.

Gains or losses which are generated from the sale or disposal of property, plant and equipment are recognized as income (or loss) in the period and calculated as the difference between the asset’s sales value and its net carrying value.

Costs derived from the daily maintenance of property, plant and equipment are recognized when incurred.

The cost of interest is recognized by applying an average or average weighted interest rate for all financing costs incurred by the Company to the final monthly balances for works underway and complies with the requirements of IAS 23.

Financing costs are not activated for periods that exceed the normal term for acquisition, construction or installation of the property; such is the case for delays, interruptions or temporary suspension of the project due to technical, financial or other problems that make it impossible to leave the property in usable conditions.

3.19Depreciation of property, plant and equipment

Property, plant and equipment are depreciated through the straight-line distribution of cost over the estimated technical useful life of the asset, which is the period in which the Company expects to use the asset. When components of one item of property, plant and equipment have different useful lives, they are recorded as separate assets and depreciated over their expected useful lives. Useful lives are reviewed on an annual basis.

Fixed assets located in the Salar de Atacama consider useful life to be the lesser value between the technical useful life and the years remaining until 2030.

In the case of certain mobile equipment, depreciation is performed depending on the hours of operation.

The useful lives used for the depreciation and amortization of assets included in property, plant and equipment in years are presented below:


	Minimum life or	Maximum life or	Life or average rate
Classes of property, plant and equipment	rate (years)	rate (years)	in years
Mining assets	3	10	8
Energy generating assets	5	16	10
Buildings	3	25	13
Supplies and accessories	4	10	8
Office equipment	5	10	9
Transport equipment	8	9	9
Network and communication equipment	4	12	8
IT equipment	5	10	8
Machinery, plant and equipment	3	25	10
Other fixed assets	3	15	9

3.20Goodwill

Goodwill acquired represents the excess in acquisition cost on the fair value of the Company’s ownership of the net identifiable assets of the subsidiary on the acquisition date. Goodwill acquired related to the acquisition of subsidiaries is included in the line item goodwill, which is subject to impairment tests annually or more frequently if events or changes in circumstances indicate that it might be impaired and is stated at cost less accumulated impairment losses. Gains and losses related to the sale of an entity include the carrying value of goodwill related to the entity sold.

This intangible asset is assigned to cash-generating units with the purpose of testing impairment losses. It is allocated based on cash-generating units expected to obtain benefits from the business combination from which the aforementioned goodwill acquired arose.

3.21Intangible assets other than goodwill

Intangible assets other than goodwill mainly relate to water rights, costs for rights of way for electricity lines, software and licensing costs, the development of computer software and mining property and concession rights.

(a)	Water rights

Water rights acquired by the Company relate to water from natural sources and are recorded at acquisition cost. The Company separates water rights into:

i)	Finite rights with amortization using the straight-line method, and

ii)	Indefinite rights, which are not amortized, given that these assets represent rights granted in perpetuity to the Company, which are subject to an annual impairment assessment.

(b)	Rights of way for electric lines

As required for the operation of industrial plants, the Company has paid rights of way in order to install wires for the different electric lines on third party land. These rights are presented under intangible asset. Amounts paid are capitalized at the date of the agreement and amortized in the statement of income, according to the life of the right of way.

(c)	Computer software

Licenses for IT programs acquired are capitalized based on their acquisition and customization costs. These costs are amortized over their estimated useful lives.

Expenses related to the development or maintenance of IT programs are recognized as an expense as and when incurred. Costs directly related to the production of unique and identifiable IT programs controlled by the Group, and which will probably generate economic benefits that are higher than its costs during more than a year, are recognized as intangible assets. Direct costs include the expenses of employees who develop information technology software and general expenses in accordance with corporate charges received.

The costs of development for IT programs are recognized as assets are amortized over their estimated useful lives.

(d)	Mining property and concession rights

The Company holds mining property and concession rights from the Chilean and Western Australian Governments. Property rights from the State of Chile are usually obtained at no initial cost (other than the payment of mining patents and minor recording expenses) and once the rights on these concessions have been obtained, they are retained by the Company while annual patents are paid. Such patents, which are paid annually, are recorded as prepaid assets and amortized over the following twelve months. Amounts attributable to mining concessions acquired from third parties that are not from the Chilean Government are recorded at acquisition cost within intangible assets.

Estimated useful lives or amortization rates used for finite identifiable intangible assets

The finite useful life of mining properties is calculated using the productive unit method, except for the mining properties owned by Corfo, which have been leased to the Company and grant it the right to exclusively exploit them until December 31, 2030.

The estimated useful life for software which they are amortized corresponds to the periods defined by the contracts or rights from which they originate.

Minimum and maximum amortization lives or rates of intangible assets:


	Minimum Life or	Maximum Life or
Estimated useful life or amortization rate	Rate	Rate
Water rights	5 years	Indefinite
Rights of way	Indefinite	Indefinite
Corfo Mining properties (1)	8 years	8 years
Mining rights	Unit-production method
Intellectual property	9 years	9 years
IT programs	3 years	9 years

(1)	Mining properties owned by Corfo and leased to the Company, which grant it the exclusive right to exploit them until December 31, 2030.

3.22Research and development expenses

Research and development expenses are charged to profit or loss in the period in which the expenditure was incurred.

3.23 Exploration and evaluation expenses

The Company holds mining concessions for exploration and exploitation of ore, the Company gives the following treatment to expenses associated with exploration and assessment of these resources:

Once the rights have been obtained, the Company records the disbursements directly associated with the exploration and evaluation of the deposit in execution as property, plant and equipment (construction in progress) at its cost. These disbursements include the following items: geological surveys, drilling, borehole extraction and sampling, activities related to the technical assessment and commercial viability of the extraction, and in general, any disbursement directly related to specific projects where the objective is to find ore resources. If the technical studies determine that the ore grade is not economically viable, the asset is directly charged to profit and loss. If determined otherwise, the asset described above is associated with the extractable ore tonnage which is amortized as it is used.

(a)	Limestone and metallic exploration

These assets are included in Other Non-Current Non-Financial Assets, and the portion related to the area to be exploited in the year are reclassified to Current Inventory, if applicable. Costs related to metal exploration are charged to profit or loss in the period in which they are recognized if the project assessed doesn’t qualify for consideration as advanced exploration otherwise, these are amortized during the development stage.

(b)	Exploration and evaluation at the Mt. Holland Project

Mount Holland exploration and evaluation expenditure is included in Property, plant and equipment, specifically in Construction in Progress.

3.24Impairment of non-financial assets

Assets subject to depreciation and amortization are also subject to impairment testing, provided that an event or change in the circumstances indicates that the amounts in the accounting records may not be recoverable, an impairment loss is recognized for the excess of the book value of the asset over its recoverable amount.

For assets other than goodwill, the Group annually assesses whether there is any indication that a previously recognized impairment loss may no longer exist or may have decreased. Should such indications exist, the recoverable amount is estimated.

The recoverable amount of an asset is the higher between the fair value of an asset or cash generating unit less costs of sales and its value in use, and is determined for an individual asset unless the asset does not generate any cash inflows that are clearly independent from other assets or groups of assets.

In evaluating value in use, estimated future cash flows are discounted using a pre-tax discount rate that reflects current market assessment, the value of money over time and the specific asset risks.

Impairment losses from continuing operations are recognized with a debit to profit or loss in the categories of expenses associated with the impaired asset function.

For assets other than goodwill, a previously recognized impairment loss is only reversed if there have been changes in the estimates used to determine the asset’s recoverable amount since the last time an impairment loss was recognized. If this is the case, the carrying value of the asset is increased to its recoverable amount. This increased amount cannot exceed the carrying value that would have been determined, net of depreciation, if an asset impairment loss had not been recognized in prior years. This reversal is recognized with a credit to profit or loss.

Assets with indefinite lives are assessed for impairment annually.

3.25 Minimum dividend

As required by Chilean law and regulations, our dividend policy is decided upon from time to time by our Board of Directors and is announced at the Annual Ordinary Shareholders’ Meeting, which is generally held in April of each year. Shareholder approval of the dividend policy is not required. However, each year the Board must submit the declaration of the final dividend or dividends in respect of the preceding year, consistent with the then-established dividend policy, to the Annual Ordinary Shareholders’ Meeting for approval. As required by the Chilean Companies Act, unless otherwise decided by unanimous vote of the holders of issued shares, we must distribute a cash dividend in an amount equal to at least 30% of our consolidated net income for that year (determined in accordance with CMF regulations), unless and to the extent the Company has a deficit in retained earnings. (See Note 19.5).

3.26 Earnings per share

The basic earnings per share amounts are calculated by dividing the profit for the year attributable to the ordinary owners of the parent by the weighted average number of ordinary shares outstanding during the year.


	For the year ended December 31
Earnings per Share	2022	2021	2020
Profit attributable to the owners of the parent (ThUS$)	3,906,311	585,454	164,518
Weighted average number of shares	285,638,456	278,157,812	263,196,524
Basic earnings per share (US$)	13.6757	2.1048	0.6251
Profit attributable to the owners of the parent (ThUS$)	3,906,311	585,454	164,518
Weighted average number of shares	285,638,456	278,157,812	263,196,524
Diluted earnings per share (US$)	13.6757	2.1048	0.6251

Series A common shares	142,819,552	142,819,552	142,819,552
Series B common shares	142,818,904	135,338,260	120,376,972
Total weighted average number of shares	285,638,456	278,157,812	263,196,524

The Company has no instruments that could potentially dilute earnings per share for the three years ended December 31, 2022.

3.27Other provisions

Provisions are recognized when:

●

The Company has a present, legal or constructive obligation as the result of a past event.

●

It is more likely than not that certain resources must be used, to settle the obligation.

●

A reliable estimate can be made of the amount of the obligation.

In the event that the provision or a portion of it is reimbursed, the reimbursement is recognized as a separate asset solely if there is certainty of income.

In the consolidated statement of income, the expense for any provision is presented net of any reimbursement.

Should the effect of the value of money over time be significant, provisions are discounted using a discount rate before tax that reflects the liability’s specific risks. When a discount rate is used, the increase in the provision over time is recognized as a finance cost.

The Company’s policy is to maintain provisions to cover risks and expenses based on a better estimate to deal with possible or certain and quantifiable responsibilities from current litigation, compensations or obligations, pending expenses for which the amount has not yet been determined, collaterals and other similar guarantees for which the Company is

responsible. These are recorded at the time the responsibility or the obligation that determines the compensation or payment is generated.

3.28Obligations related to employee termination benefits and pension commitments

Obligations towards the Company’s employees comply with the provisions of the collective bargaining agreements in force, which are formalized through collective employment agreements and individual employment contracts, except for the United States, details in Note 17.4.

These obligations are valued using actuarial calculations, according to the projected unit credit method which considers such assumptions as the mortality rate, employee turnover, interest rates, retirement dates, effects related to increases in employees’ salaries, as well as the effects on variations in services derived from variations in the inflation rate.

Actuarial gains and losses that may be generated by variations in defined, pre-established obligations are directly recorded in “Other Comprehensive Income”.

Actuarial losses and gains have their origin in deviations between the estimate and the actual behavior of actuarial assumptions or in the reformulation of established actuarial assumptions.

The Company’s subsidiary SQM North America has established pension plans for its retired employees that are calculated by measuring the projected obligation using a net salary progressive rate net of adjustments for inflation, mortality and turnover assumptions, deducting the resulting amounts at present value. The net balance of this obligation is presented under the “Non-Current Provisions for Employee Benefits” (refer to Note 17.4).

3.29Compensation plans

Compensation plans implemented through benefits provided in share-based payments settled in cash are recognized in the financial statements at their fair value, in accordance with IFRS 2. Changes in the fair value of options granted are recognized with a charge to payroll in the results for the period (see Note 17.6).

3.30Revenue recognition

Revenue includes the fair value of considerations received or receivable for the sale of goods and services during the performance of the Company’s activities. Revenue is presented net of value added tax, estimated returns, rebates and discounts and after the elimination of sales among subsidiaries.

Revenues are recognized when the specific conditions for each income stream are met, as follows:

(a)	Sale of goods

The sale of goods is recognized when the Company has delivered products to the customer, and there is no obligation pending compliance that could affect the acceptance of products by the customer. The delivery does not occur until products have been shipped to the customer or confirmed as received by the customer, and the related risks of obsolescence and loss have been transferred to the customer and the customer has accepted the products in accordance with the conditions established in the sale, when the acceptance period has ended, or when there is objective evidence that those criteria required for acceptance have been met.

Sales are recognized in consideration of the price set in the sales agreement, net of volume discounts and estimated returns at the date of the sale. Volume discounts are evaluated in consideration of annual foreseen purchases and in accordance with the criteria defined in agreements.

(b)	Sale of services

Revenue associated with the rendering of services is recognized considering the degree of completion of the service as of the date of presentation of the consolidated classified statement of financial position, provided that the result from the transaction can be estimated reliably.

(c)	Income from dividends

Income from dividends is recognized when the right to receive the payment is established.

3.31Finance income and finance costs

Finance income is mainly composed of interest income from financial instruments such as term deposits and mutual fund deposits. Interest income is recognized in profit or loss at amortized cost, using the effective interest rate method.

Finance costs are mainly composed of interest on bank borrowing expenses, interest on bonds issued and interest capitalized for borrowing costs for the acquisition, construction or production or qualifying assets. Borrowing costs and bonds issued are also recognized in profit or loss using the effective interest rate method.

3.32Current income tax and deferred

Corporate income tax for the year is determined as the sum of current and deferred income taxes from the different consolidated companies.

Current taxes are based on the application of the various types of taxes attributable to taxable income for the period. The Company periodically assesses the positions taken in the determination of taxes with respect to situations in which the applicable tax regulation is subject to interpretation and considers whether it is probable that a tax authority will accept an uncertain tax treatment. The Company measures its tax balances based on the most likely amount or expected value, depending on which method provides a better prediction of the resolution of uncertainty.

Differences between the book value of assets and liabilities and their tax basis generate the balance of deferred tax assets or liabilities, which are calculated using the tax rates expected to be applicable when the assets and liabilities are realized.

In conformity with current tax regulations, the provision for corporate income tax and taxes on mining activity is recognized on an accrual basis, presenting the net balances of accumulated monthly tax provisional payments for the fiscal period and associated credits. The balances of these accounts are presented in current income taxes recoverable or current taxes payable, as applicable.

Income tax and variations in deferred tax assets or liabilities that are not the result of business combinations are recorded in income or equity, considering the origin of the gains or losses which have generated them.

At each reporting period, the carrying amount of deferred tax assets is reviewed and recognized only if it is probable that future taxable amounts will be available to allow the recovery of all or a portion of the deferred tax assets.

With respect to deductible temporary differences associated with investments in subsidiaries, associated companies and interest in joint ventures, deferred tax assets are recognized solely provided that it is more likely than not that the temporary differences will be reversed in the near future and that there will be taxable income with which they may be used. The deferred taxes related to items directly recognized in equity is registered with effect on other comprehensive income and not with effect on income.

Deferred tax assets and liabilities are offset if there is a legally receivable right of offsetting tax assets against tax liabilities and the deferred tax is related to the same tax entity and authority.

The recognized deferred tax assets refer to the amount of income tax to recover in future periods, related to:

deductible temporary differences;

compensation for losses obtained in prior periods, which have not yet been subject to tax deduction; and

compensation for unused credits from prior periods.

The Company recognizes deferred tax assets when it has the certainty that they can be offset with tax income from subsequent periods, unused tax losses or credits to date, but only when this availability of future tax income is probable and can be used for offsetting these unused tax losses or credits.

The recognized deferred tax liabilities refer to the amount of income tax to pay in a future period, related to taxable temporary differences.

The Company does not recognize deferred tax liabilities in all cases of taxable temporary differences associated with investments in subsidiaries, branches and associates, or with joint ventures, because based on the standard, the two following conditions both apply:

(i)

the parent company, investor or shareholder is capable of controlling the moment of the reversal of temporary differences; and

(ii)

it is probable that the temporary difference will not be reversed in the foreseeable future.

Moreover, the Company does not recognize deferred tax assets for all the deductible temporary differences that originate from investments in subsidiaries, branches and associates, or from joint ventures, because it is unlikely that they meet the following requirements:

(i)

temporary differences are reversed in the foreseeable future; and

(ii)there is taxable profit available against which temporary differences can be used.

3.33Operating segment reporting

IFRS 8 requires that companies adopt a management approach to disclose information on the operations generated by its operating segments. In general, this is the information that management uses internally for the evaluation of segment performance and making the decision on how to allocate resources for this purpose.

An operating segment is a group of assets and operations responsible for providing products or services subject to risks and performance that are different from those of other business segments. A geographical segment is responsible for providing products or services in a given economic environment subject to risks and performance that are different from those of other segments operating in other economic environments.

Allocation of assets and liabilities, to each segment is not possible given that these are associated with more than one segment, except for depreciation, amortization and impairment of assets, which are directly allocated in accordance with the criteria established in the costing process for product inventories to the corresponding segments.

3.34 Primary accounting criteria, estimates and assumptions

Management is responsible for the information contained in these consolidated annual accounts, which expressly indicate that all the principles and criteria included in IFRS, as issued by the IASB, have been applied in full.

In preparing the consolidated financial statements of the Company and its subsidiaries, management has made significant judgments and estimates to quantify certain assets, liabilities, revenues, expenses and commitments included therein. Basically, these estimates refer to:

●

Estimated useful lives are determined based on current facts and past experience and take into consideration the expected physical life of the asset, the potential for technological obsolescence, and regulations. (See Notes 3.21, 14 and 15).

●

Impairment losses of certain assets - Goodwill and intangible assets that have an indefinite useful life are not amortized and are assessed for impairment on an annual basis, or more frequently if the events or changes in circumstances indicate that these may have deteriorated Other assets, including property, plant and equipment, exploration assets, goodwill and intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that their carrying amounts exceed their recoverable amounts. If an impairment assessment is required, the assessment of fair value or value in use often requires estimates and assumptions such as discount rates, exchange rates, commodity prices, future capital requirements and future operating performance. Changes in such estimates could impact the recoverable values of these assets. Estimates are reviewed regularly by management (See Notes 14 and 15).

●

Assumptions used in calculating the actuarial amount of pension-related and severance indemnity payment benefit commitments (See Note 17).

●

Contingencies – The amount recognized as a provision, including legal, contractual, constructive and other exposures or obligations, is the best estimate of the consideration required to settle the related liability, including any related interest charges, considering the risks and uncertainties surrounding the obligation. In addition, contingencies will only be resolved when one or more future events occur or fail to occur. Therefore, the assessment of contingencies inherently involves the exercise of significant judgment and estimates of the outcome of future events. The Company assesses its liabilities and contingencies based upon the best information available, relevant tax laws and other appropriate requirements (See Note 20). If the Company is unable to rationally estimate the obligation or concluded no loss is probable but it is reasonably possible that a loss may be incurred, no provision is recorded but disclosed in the notes to the consolidated financial statements.

●

Volume determination for certain in-process and finished products is based on topographical measurements and technical studies that cover the different variables (density for bulk inventories and density and porosity for the remaining stock, among others), and related allowance.

●

Estimates for obsolescence provisions to ensure that the carrying value of inventory is not in excess of the net realizable inventory valuation. (See Note 10).

Even though these estimates have been made on the basis of the best information available on the date of preparation of these consolidated financial statements, certain events may occur in the future and oblige their amendment (upwards or downwards) over the next few years, which would be made prospectively.

Property, plant and equipment

12 Months Ended

Dec. 31, 2022

Property, plant and equipment

Property, plant and equipment

Note 15 Property, plant and equipment

As of December 31, 2022, and 2021, the detail of property, plant and equipment is as follows:

15.1Types of property, plant and equipment


	As of	As of
	December 31,	December 31,
Description of types of property, plant and equipment	2022	2021
	ThUS$	ThUS$
Property, plant and equipment, net
Land	23,482	23,507
Buildings	273,913	270,563
Other property, plant and equipment	34,960	32,846
Transport equipment	9,487	2,463
Supplies and accessories	4,798	5,556
Office equipment	1,355	1,386
Network and communication equipment	1,872	1,359
Mining assets	60,284	38,241
IT equipment	3,147	3,570
Energy generating assets	3,253	3,970
Constructions in progress	1,328,508	731,787
Machinery, plant and equipment	981,779	896,977
Total	2,726,838	2,012,225
Property, plant and equipment, gross
Land	23,482	23,507
Buildings	803,398	767,096
Other property, plant and equipment	250,058	239,582
Transport equipment	21,343	13,357
Supplies and accessories	29,426	28,786
Office equipment	13,141	12,943
Network and communication equipment	10,878	9,577
Mining assets	230,803	195,889
IT equipment	31,197	30,456
Energy generating assets	38,540	38,540
Constructions in progress	1,328,508	731,787
Machinery, plant and equipment	3,716,440	3,464,881
Total	6,497,214	5,556,401
Accumulated depreciation and value impairment of property, plant and equipment, total
Accumulated depreciation and impairment of buildings	(529,485)	(496,533)
Accumulated depreciation and impairment of other property, plant and equipment	(215,098)	(206,736)
Accumulated depreciation and impairment of transport equipment	(11,856)	(10,894)
Accumulated depreciation and impairment of supplies and accessories	(24,628)	(23,230)
Accumulated depreciation and impairment of office equipment	(11,786)	(11,557)
Accumulated depreciation and impairment of network and communication equipment	(9,006)	(8,218)
Accumulated depreciation and impairment of mining assets	(170,519)	(157,648)
Accumulated depreciation and impairment of IT equipment	(28,050)	(26,886)
Accumulated depreciation and impairment of energy generating assets	(35,287)	(34,570)
Accumulated depreciation and impairment of machinery, plant and equipment	(2,734,661)	(2,567,904)
Total	(3,770,376)	(3,544,176)


	As of	As of
	December 31,	December 31,
Description of classes of property, plant and equipment	2022	2021
	ThUS$	ThUS$
Property, plant and equipment, net
Pumps	32,120	28,889
Conveyor Belt	17,135	18,294
Crystallizer	48,582	20,189
Plant Equipment	163,594	168,370
Tanks	25,923	22,358
Filter	47,976	41,438
Electrical equipment/facilities	110,275	97,594
Other Property, Plant & Equipment	112,628	71,150
Site Closure	36,673	34,248
Piping	107,481	106,317
Well	177,708	202,982
Pond	41,729	42,547
Spare Parts (1)	59,955	42,601
Total	981,779	896,977

(1)	The reconciliation of the spare parts provisions as of December 31, 2022 and 2021 is as follows:


	As of	As of
	December 31,	December 31,
Reconciliation	2022	2021
	ThUS$	ThUS$
Opening balance	48,262	42,881
Increase in provision	3,810	5,381
Closing balance	52,072	48,262

15.2Reconciliation of changes in property, plant and equipment by type:

Reconciliation of changes in property, plant and equipment by class as of December 31, 2022 and 2021:


			Other
Reconciliation of changes in property,			property,		Supplies		Network and			Energy	Assets	Machinery,	Property,
plant and equipment by class as of			plant and	Transport	and	Equipment	communication	Mining	IT	generating	under	plant and	plant and
	Land	Buildings	equipment	equipment	accessories	office	equipment	assets	equipment	assets	construction	equipment	equipment
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
At January 1, 2022	23,507	270,563	32,846	2,463	5,556	1,386	1,359	38,241	3,570	3,970	731,787	896,977	2,012,225
Additions	—	495	425	146	4	7	152	—	270	—	922,690	7,194	931,383
Disposals	—	—	—	—	—	—	—	—	—	—	—	(19)	(19)
Depreciation for the year	—	(32,915)	(8,691)	(962)	(1,400)	(248)	(788)	(12,871)	(1,256)	(717)		(158,865)	(218,713)
Impairment (2)	—	(156)										(7,928)	(8,084)
Increase (decrease) in foreign currency translation difference (2)	(5)	(7)	—	—	—	(1)	—	—	—	—	—	(20)	(33)
Reclassifications	121	37,147	10,449	7,840	726	213	1,149	34,914	582	—	(316,994)	223,853	—
Other increases (decreases)	—	(1,127)	(69)	—	(88)	(2)	—	—	(19)	—	(8,975)	20,587	10,307
Decreases for classification as held for sale	(141)	(87)	—	—	—	—	—	—	—	—	—	—	(228)
Subtotal	(25)	3,350	2,114	7,024	(758)	(31)	513	22,043	(423)	(717)	596,721	84,802	714,613
As of December 31, 2022	23,482	273,913	34,960	9,487	4,798	1,355	1,872	60,284	3,147	3,253	1,328,508	981,779	2,726,838
Historical cost	23,482	803,398	250,058	21,343	29,426	13,141	10,878	230,803	31,197	38,540	1,328,508	3,716,440	6,497,214
Accumulated depreciation	—	(529,485)	(215,098)	(11,856)	(24,628)	(11,786)	(9,006)	(170,519)	(28,050)	(35,287)	—	(2,734,661)	(3,770,376)
At January 1, 2021	23,579	239,666	35,418	2,880	4,183	459	1,272	47,052	4,083	4,878	486,345	887,504	1,737,319
Additions	—	—	346	—	—	29	58	—	232	—	470,112	756	471,533
Disposals	—	—	—	—	—	—	—	—	—	—	—	—	—
Depreciation for the year	—	(30,872)	(7,848)	(759)	(1,384)	(383)	(539)	(10,138)	(1,387)	(908)	—	(141,460)	(195,678)
Impairment (2)	—	(456)	(75)	—	(16)	(8)	—	—	(8)	—	—	(5,019)	(5,582)
Increase (decrease) in foreign currency translation difference (2)	(72)	(80)	(1)	—	—	(1)	—	—	—	—	—	(69)	(223)
Reclassifications	—	62,291	5,008	354	2,773	1,290	553	1,327	557	—	(224,945)	150,792	—
Other increases (decreases)	—	14	(2)	(12)	—	—	15	—	93	—	275	4,473	4,856
Decreases for classification as held for sale	—	—	—	—	—	—	—	—	—	—	—	—	—
Subtotal	(72)	30,897	(2,572)	(417)	1,373	927	87	(8,811)	(513)	(908)	245,442	9,473	274,906
As of December 31, 2021	23,507	270,563	32,846	2,463	5,556	1,386	1,359	38,241	3,570	3,970	731,787	896,977	2,012,225
Historical cost	23,507	767,096	239,582	13,357	28,786	12,943	9,577	195,889	30,456	38,540	731,787	3,464,881	5,556,401
Accumulated depreciation	—	(496,533)	(206,736)	(10,894)	(23,230)	(11,557)	(8,218)	(157,648)	(26,886)	(34,570)	—	(2,567,904)	(3,544,176)

(1)

The net balance of “Other Increases (Decreases)” corresponds to all those items that are reclassified to or from “Property, Plant and Equipment”, They can have the following origin: (i) work in progress which is expensed to profit or loss, forming part of operating costs or other expenses per function, as appropriate; (ii) the variation representing the purchase and use of materials and spare parts; (iii) projects corresponding mainly to exploration expenditures and ground studies that are reclassified to the item other non-current financial assets; (iv) software that is reclassified to “Intangibles (v) Provisions related to the investment plan and assets related to closing the site.

(2)	See note 21.5. This corresponds to assets identified as not being used in the operation due to their specific characteristics.

15.3Detail of property, plant and equipment pledged as guarantee

There are no restrictions in title or guarantees for compliance with obligations that affect property, plant and equipment.

15.4Cost of capitalized interest, property, plant and equipment

The rates and costs for capitalized interest of property, plant and equipment are detailed as follows:


	As of		As of
	December 31,		December 31,
Costs of capitalized interest	2022		2021
	ThUS$		ThUS$
Weighted average capitalization rate of capitalized interest costs	4	%	4	%
Amount of interest cost capitalized	24,708		14,206

Financial instruments - Hedging Effect in Profit and Equity (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Financial instruments [Abstract]
Effect on Profit or Loss	$ 25,714	$ (17,761)
Hedge Reserves from Variation in Gross Hedges	$ (19,967)	$ (46,529)

Basis of presentation for the consolidated financial statements (Tables)

12 Months Ended

Dec. 31, 2022

Basis of presentation for the consolidated financial statements

Schedule of revised deferred tax assets and liabilities presentation


	Original balances		Balances
	reported as of	Reclassification	reclassified as of
Items	December 31, 2021		December 31, 2021
	ThUS$	ThUS$	ThUS$
Deferred tax assets	—	135,904	135,904
Deferred tax liabilities	110,416	135,904	246,320

Schedule of revised earnings per share presentation


	Original earnings per share	Corrected earnings per share
	reported for the year ended	reported for the year ended
Items	December 31, 2021	December 31, 2021
	US$	US$
Basic	0.6251	2.1048
Diluted	0.6251	2.1048


	Original earnings per share	Corrected earnings per share
	reported for the year ended	reported for the year ended
Items	December 31, 2020	December 31, 2020
	US$	US$
Basic	1.0567	0.6251
Diluted	1.0567	0.6251

Schedule of mandatory interpretations and amendments


		Mandatory for annual periods
Amendments and improvements	Description	beginning on or after
Reference the Conceptual Framework, amendments to IFRS 3	Minor changes were made to the IFRS 3 “Business Combinations” to update the references to the conceptual framework for financial reporting without changing the requirements for business combinations.	01-01-2022
Amendment to IAS 16, "Property, Plant and Equipment."	Prohibits a company from deducting from the cost of property, plant and equipment amounts received from selling items produced while the company is preparing the asset for its intended use. Instead, a company will recognize such sales proceeds and related cost in profit or loss.	01-01-2022
Amendment to IAS 37, "Provisions, Contingent Liabilities and Contingent Assets".	Clarifies for onerous contracts what unavoidable costs a company must include to evaluate whether a contract generates losses.	01-01-2022
Annual Improvements to IFRS Standards 2018-2020 The following improvements were finalized in May 2020:
IFRS 9 Financial Instruments.	Clarifies what fees must be included in the "10 percent" test when evaluating whether to derecognize a financial liability	01-01-2022
IFRS 16 Leases	The amendment to illustrative example 13 removes the illustration of the reimbursement of improvements to the leased asset made by the lessor to resolve any potential confusion in the treatment of lease incentives.	01-01-2022

Schedule of interpretations and amendments issued, but not effective


		Mandatory for annual periods
Standards and Interpretations	Description	beginning on or after
Amendment to IAS 1 “Presentation of financial statements” on classification of liabilities.	These amendments clarify that the liabilities will be classified as current or non-current depending on the rights that exist at the close of the reporting period. The classification is not affected by the expectations of the entity or the events subsequent to the report date (for example, the receipt of a waiver or noncompliance with the pact). The amendment also clarifies what IAS 1 means when referring to “liquidation” of a liability. The amendment must be applied retroactively in accordance with IAS 8. Effective date of application January 1, 2022; however, such date was deferred to January 1, 2024.	01-01-2024
Amendment to IAS 1 “Non-current liabilities with covenants”.	The amendment is aimed at improving the information that an entity provides when the payment terms of its liabilities can be deferred depending on compliance with covenants within the twelve months following the date of issue of the financial statements.	01-01-2024
Amendments to IFRS 16 “Leases”	On sales with leaseback, which explains how an entity should recognize the rights to use the asset and how the profits or losses from the sale and leaseback should be recognized in the financial statements.	01-01-2024
Amendments to IAS 1: “Presentation of the Financial Statements” and IAS 8 “Accounting policies, changes in accounting estimates and errors”.	The amendments are intended to improve disclosures of accounting policies and to help users of financial statements distinguish between changes in accounting estimates and changes in accounting policies.	01-01-2023
Amendment to IAS 12 - Deferred taxes related to assets and liabilities that arise from a single transaction.	These amendments require companies to recognize deferred taxes on transactions that result in equal amounts in taxable and deductible temporary differences in the initial recognition.	01-01-2023
Amendment to IFRS 10 “Consolidated Financial Statements” and IAS 28 “Investments in Associates and Joint Ventures”, Published in September 2014.	These amendments address an inconsistency between the requirements in IFRS 10 and those in IAS 28 in dealing with the sale or contribution of assets between an investor and its associate or joint venture. The main consequence of the amendments is that a full gain or loss is recognized when a transaction involves a business -whether it is housed in a subsidiary or not. A partial gain or loss is recognized when a transaction involves assets that do not constitute a business, even if these assets are housed in a subsidiary.	undetermined

Schedule of detailed information about subsidiaries


			Country of	Functional	Ownership Interest
Subsidiaries	TAX ID No.	Address	Incorporation	Currency	Direct	Indirect	Total
SQM Nitratos S.A.	96.592.190-7	El Trovador 4285, Las Condes	Chile	Dollar	99.9999	0.0001	100.0000
SQM Potasio S.A.	96.651.060-9	El Trovador 4285, Las Condes	Chile	Dollar	99.9999	0.0001	100.0000
Serv. Integrales de Tránsito y Transf. S.A.	79.770.780-5	Arturo Prat 1060, Tocopilla	Chile	Dollar	0.0003	99.9997	100.0000
Isapre Norte Grande Ltda.	79.906.120-1	Aníbal Pinto 3228, Antofagasta	Chile	Peso	1.0000	99.0000	100.0000
Ajay SQM Chile S.A.	96.592.180-K	Av. Pdte. Eduardo Frei 4900, Santiago	Chile	Dollar	51.000	-	51.000
Almacenes y Depósitos Ltda.	79.876.080-7	El Trovador 4285, Las Condes	Chile	Peso	1.0000	99.0000	100.0000
SQM Salar S.A.	79.626.800-K	El Trovador 4285, Las Condes	Chile	Dollar	18.1800	81.8200	100.0000
SQM Industrial S.A.	79.947.100-0	El Trovador 4285, Las Condes	Chile	Dollar	99.0470	0.9530	100.0000
Exploraciones Mineras S.A.	76.425.380-9	El Trovador 4285, Las Condes	Chile	Dollar	0.2691	99.7309	100.0000
Sociedad Prestadora de Servicios de Salud Cruz del Norte S.A.	76.534.490-5	Aníbal Pinto 3228, Antofagasta	Chile	Peso	-	100.0000	100.0000
Soquimich Comercial S.A.	79.768.170-9	El Trovador 4285, Las Condes	Chile	Dollar	-	60.6383	60.6383
Comercial Agrorama Ltda. (1)	76.064.419-6	El Trovador 4285, Las Condes	Chile	Dollar	-	60.6383	60.6383
Comercial Hydro S.A.	96.801.610-5	El Trovador 4285, Las Condes	Chile	Dollar	-	100.0000	100.0000
Agrorama S.A.	76.145.229-0	El Trovador 4285, Las Condes	Chile	Dollar	-	60.6383	60.6383
Orcoma Estudios SPA	76.359.919-1	Apoquindo 3721 OF 131, Las Condes	Chile	Dollar	100.0000	-	100.0000
Orcoma SPA	76.360.575-2	Apoquindo 3721 OF 131, Las Condes	Chile	Dollar	100.0000	-	100.0000
SQM MaG SpA	76.686.311-9	Los Militares 4290, Las Condes	Chile	Dollar	-	100.0000	100.0000
Sociedad Contractual Minera Búfalo	77.114.779-8	Los Militares 4290, Las Condes	Chile	Dollar	99.9000	0.1000	100.0000
SQM North America Corp.	Foreign	2727 Paces Ferry Road, Building Two, Suite 1425, Atlanta, GA	United States of America	Dollar	40.0000	60.0000	100.0000
RS Agro Chemical Trading Corporation A.V.V.	Foreign	Caya Ernesto O. Petronia 17, Orangestad	Aruba	Dollar	98.3333	1.6667	100.0000
Nitratos Naturais do Chile Ltda.	Foreign	Al. Tocantis 75, 6° Andar, Conunto 608 Edif. West Gate, Alphaville Barureri, CEP 06455-020, Sao Paulo	Brazil	Dollar	-	100.0000	100.0000
SQM Corporation N.V.	Foreign	Pietermaai 123, P.O. Box 897, Willemstad, Curacao	Curacao	Dollar	0.0002	99.9998	100.0000
SQM Perú S.A. (2)	Foreign	Avenida Camino Real N° 348 of. 702, San Isidro, Lima	Perú	Dollar	0.0091	99.9909	100.0000
SQM Ecuador S.A.	Foreign	Av. José Orrantia y Av. Juan Tanca Marengo Edificio Executive Center Piso 2 Oficina 211	Ecuador	Dollar	0.00401	99.9960	100.0000
SQM Brasil Ltda.	Foreign	Al. Tocantis 75, 6° Andar, Conunto 608 Edif. West Gate, Alphaville Barureri, CEP 06455-020, Sao Paulo	Brazil	Dollar	0.5800	99.4200	100.0000
SQMC Holding Corporation.	Foreign	2727 Paces Ferry Road, Building Two, Suite 1425, Atlanta	United States of America	Dollar	0.1000	99.9000	100.0000
SQM Japan Co. Ltd.	Foreign	From 1st Bldg 207, 5-3-10 Minami- Aoyama, Minato-ku, Tokio	Japan	Dollar	0.1597	99.8403	100.0000

(1)

has control over the administration of Comercial Agrorama Ltda.

(2)

SQM Perú has been liquidated as of December 31, 2022.

Country of

Functional

Ownership Interest

Subsidiaries

TAX ID No.

Address

Incorporation

Currency

Direct

Indirect

Total

SQM Europe N.V.

Foreign

Houtdok-Noordkaai 25a B-2030 Amberes

Belgium

Dollar

0.5800

99.4200

100.0000

SQM Indonesia S.A.

Foreign

Perumahan Bumi Dirgantara Permai, Jl Suryadarma Blok Aw No 15 Rt 01/09 17436 Jatisari Pondok Gede

Indonesia

Dollar

80.0000

North American Trading Company

Foreign

2727 Paces Ferry Road, Building Two, Suite 1425, Atlanta, GA

United States of America

Dollar

100.0000

SQM Virginia LLC

Foreign

2727 Paces Ferry Road, Building Two, Suite 1425, Atlanta, GA

United States of America

Dollar

100.0000

SQM Comercial de México S.A. de C.V.

Foreign

Av. Moctezuma 144-4 Ciudad del Sol. CP 45050, Zapopan, Jalisco México

México

Dollar

0.0100

99.9900

100.0000

SQM Investment Corporation N.V.

Foreign

Pietermaai 123, P.O. Box 897, Willemstad, Curacao

Curacao

Dollar

1.0000

99.0000

100.0000

Royal Seed Trading Corporation A.V.V.

Foreign

Caya Ernesto O. Petronia 17, Orangestad

Aruba

Dollar

1.6700

98.3300

100.0000

SQM Lithium Specialties Limited Partnership

Foreign

2727 Paces Ferry Road, Building Two, Suite 1425, Atlanta, GA

United States of America

Dollar

100.0000

Comercial Caimán Internacional S.A.

Foreign

Edificio Plaza Bancomer

Panamá

Dollar

100.0000

SQM France S.A.

Foreign

ZAC des Pommiers 27930 FAUVILLE

France

Dollar

100.0000

Administración y Servicios Santiago S.A. de C.V.

Foreign

Av. Moctezuma 144-4 Ciudad del Sol, CP 45050, Zapopan, Jalisco México

México

Dollar

100.0000

SQM Nitratos México S.A. de C.V.

Foreign

Av. Moctezuma 144-4 Ciudad del Sol, CP 45050, Zapopan, Jalisco México

México

Dollar

100.0000

Soquimich European Holding B.V.

Foreign

Luna Arena, Herikerbergweg 238 1101 CM Amsterdan

Holland

Dollar

100.0000

SQM Iberian S.A.

Foreign

Provenza 251 Principal 1a CP 08008, Barcelona

Spain

Dollar

100.0000

SQM África Pty Ltd.

Foreign

Tramore House, 3 Wterford Office Park, Waterford Drive, 2191 Fourways, Johannesburg

South Africa

Dollar

100.0000

SQM Oceanía Pty Ltd.

Foreign

Level 9, 50 Park Street, Sydney NSW 2000, Sydney

Australia

Dollar

100.0000

SQM Beijing Commercial Co. Ltd.

Foreign

Room 1001C, CBD International Mansion N 16 Yong An Dong Li, Jian Wai Ave Beijing 100022, P.R.

China

Dollar

100.0000

SQM Thailand Limited

Foreign

Unit 2962, Level 29, N° 388, Exchange Tower Sukhumvit Road, Klongtoey Bangkok

Thailand

Dollar

99.9980

SQM Colombia SAS

Foreign

Cra 7 No 32 – 33 piso 29 Pbx: (571) 3384904 Fax: (571) 3384905 Bogotá D.C. – Colombia.

Colombia

Dollar

100.0000

SQM Australia PTY

Foreign

Level 16, 201 Elizabeth Street Sydney

Australia

Dollar

100.0000

SQM International N.V.

Foreign

Houtdok-Noordkaai 25a B-2030 Amberes

Belgium

Dollar

0.5800

99.4200

100.0000

SQM (Shanghai) Chemicals Co. Ltd.

Foreign

Room 4703-33, 47F, No.300 Middle Huaihai Road, Huangpu district, Shanghai

China

Dollar

100.0000

SQM Korea LLC

Foreign

Suite 22, Kyobo Building, 15th Floor, 1 Jongno Jongno-gu, Seoul, 03154 South Korea

Korea

Dollar

100.0000

SQM Holland B.V.

Foreign

Herikerbergweg 238, 1101 CM Amsterdam Zuidoost

Holland

Dollar

100.0000

Income tax and deferred taxes - Tax Rate within Main Countries the Company Operates (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income tax and deferred taxes [Line Items]
Applicable tax rate	27.00%	27.00%	27.00%
Vat tax rate	12.00%
Spain
Income tax and deferred taxes [Line Items]
Applicable tax rate	25.00%	25.00%
Belgium
Income tax and deferred taxes [Line Items]
Applicable tax rate	25.00%	25.00%
Mexico
Income tax and deferred taxes [Line Items]
Applicable tax rate	30.00%	30.00%
United States \| Maximum
Income tax and deferred taxes [Line Items]
Applicable tax rate	3.51%	3.51%
United States \| Minimum
Income tax and deferred taxes [Line Items]
Applicable tax rate	21.00%	21.00%
South Africa
Income tax and deferred taxes [Line Items]
Applicable tax rate	28.00%	28.00%
Korea
Income tax and deferred taxes [Line Items]
Applicable tax rate	25.00%	25.00%
China \| Maximum
Income tax and deferred taxes [Line Items]
Applicable tax rate	12.00%	12.00%
China \| Minimum
Income tax and deferred taxes [Line Items]
Applicable tax rate	25.00%	25.00%

Employee benefits - Classes of Benefits and Expenses by Employee (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current
Profit sharing and bonuses	$ 2,270	$ 1,383
Performance bonus and operational	33,106	25,392
Total	35,376	26,775
Non-current
Profit sharing and bonuses	8,973	0
Severance indemnity payments	34,899	27,099
Total	$ 43,872	$ 27,099

Intangible assets and goodwill - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Intangible assets and goodwill.
Property and goodwill		$ 7,370
Intangible assets and goodwill	$ 34,149

Significant accounting policies - Exchange Rates (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Brazilian real
Significant accounting policies [Line Items]
Closing foreign exchange rate	5.28	5.57
Average foreign exchange rate	5.25	5.66
New Peruvian sol
Significant accounting policies [Line Items]
Closing foreign exchange rate	3.81	3.99
Average foreign exchange rate	3.83	4.04
Japanese yen
Significant accounting policies [Line Items]
Closing foreign exchange rate	131.32	115.18
Average foreign exchange rate	134.70	113.87
Euro
Significant accounting policies [Line Items]
Closing foreign exchange rate	0.93	0.88
Average foreign exchange rate	0.94	0.88
Mexican peso
Significant accounting policies [Line Items]
Closing foreign exchange rate	19.50	20.54
Average foreign exchange rate	19.60	20.90
Australian dollar
Significant accounting policies [Line Items]
Closing foreign exchange rate	1.47	1.38
Average foreign exchange rate	1.48	1.40
Pound Sterling
Significant accounting policies [Line Items]
Closing foreign exchange rate	0.83	0.74
Average foreign exchange rate	0.82	0.75
South African rand
Significant accounting policies [Line Items]
Closing foreign exchange rate	17.01	15.94
Average foreign exchange rate	17.28	15.88
Chilean peso
Significant accounting policies [Line Items]
Closing foreign exchange rate	855.86	844.69
Average foreign exchange rate	873.81	849.46
Chinese yuan
Significant accounting policies [Line Items]
Closing foreign exchange rate	6.92	6.38
Average foreign exchange rate	6.98	6.37
Indian rupee
Significant accounting policies [Line Items]
Closing foreign exchange rate	82.73	74.42
Average foreign exchange rate	82.52	75.40
Thai Baht
Significant accounting policies [Line Items]
Closing foreign exchange rate	34.64	33.32
Average foreign exchange rate	34.76	33.55
Turkish lira
Significant accounting policies [Line Items]
Closing foreign exchange rate	18.71	13.28
Average foreign exchange rate	18.66	13.54
Korean Won
Significant accounting policies [Line Items]
Closing foreign exchange rate	1,259.98	1,188.79
Average foreign exchange rate	1,291.64	1,183.95
Indonesian Rupiah
Significant accounting policies [Line Items]
Closing foreign exchange rate	15,570.00	14,265.00
Average foreign exchange rate	15,596.90	14,320.57
United Arab Emirates, Dirham
Significant accounting policies [Line Items]
Closing foreign exchange rate	3.67	3.67
Average foreign exchange rate	3.67	3.67
Polish Zloty
Significant accounting policies [Line Items]
Closing foreign exchange rate	4.37	4.06
Average foreign exchange rate	4.42	4.08
UF
Significant accounting policies [Line Items]
Closing foreign exchange rate	41.02	36.69
Average foreign exchange rate	40.18	36.48

Gains (losses) from operating activities in the statement of income of expenses, included according to their nature - Finance Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Gains (losses) from operating activities in the statement of income of expenses, included according to their nature
Interest from term deposits	$ 31,122	$ 3,635	$ 10,260
Interest from marketable securities	10,252	68	2,147
Interest from maintenance of minimum bank balance in current account	6	2	18
Other finance income	3,318	107	259
Other finance interests	2,340	856	1,031
Total	$ 47,038	$ 4,668	$ 13,715

Gains (losses) from operating activities in the statement of income of expenses, included according to their nature - Administrative Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement [Line Items]
Depreciation of right-of-use assets	$ (9,206)	$ (8,706)
Total	(142,644)	(118,893)	$ (107,017)
Administrative expenses
Statement [Line Items]
Employee benefit expenses	(63,713)	(60,552)	(55,152)
Marketing costs	(5,661)	(2,415)	(2,377)
Amortization expense	(126)	(118)	(91)
Entertainment expenses	(5,576)	(4,906)	(4,858)
Advisory services	(27,235)	(17,332)	(13,880)
Lease of buildings and facilities	(3,829)	(3,478)	(3,111)
Insurance	(3,011)	(3,901)	(3,478)
Office expenses	(8,596)	(6,363)	(6,204)
Contractors	(7,283)	(5,106)	(5,079)
Depreciation of right-of-use assets	(2,656)	(2,743)	(2,617)
Other expenses	$ (14,958)	$ (11,979)	$ (10,170)

Disclosures on equity - Other Reserves (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of Disclosures on equity [Line Items]
Total Other reserves	$ 11,663	$ 13,103	$ 16,318
SQM Iberian S.A.
Disclosure of Disclosures on equity [Line Items]
Total Other reserves	9,464	9,464	9,464
SQM Europe NV
Disclosure of Disclosures on equity [Line Items]
Total Other reserves	1,957	1,957	1,957
Soquimich European Holding B.V.
Disclosure of Disclosures on equity [Line Items]
Total Other reserves	828	828	828
Abu Dhabi Fertilizer Industries WWL
Disclosure of Disclosures on equity [Line Items]
Total Other reserves	0	455	455
Kore Potash PLC
Disclosure of Disclosures on equity [Line Items]
Total Other reserves	0	0	3,414
Soquimich Comercial S.A.
Disclosure of Disclosures on equity [Line Items]
Total Other reserves	(401)	0	0
SQM Vitas Fzco.
Disclosure of Disclosures on equity [Line Items]
Total Other reserves	85	(38)	(244)
Pavoni & C. Spa
Disclosure of Disclosures on equity [Line Items]
Total Other reserves	7	7	0
SQM Iberian S.A. One
Disclosure of Disclosures on equity [Line Items]
Total Other reserves	(1,677)	(1,677)	(1,677)
Orcoma Estudios SPA
Disclosure of Disclosures on equity [Line Items]
Total Other reserves	2,121	2,121	2,121
SQM Industrial S.A.
Disclosure of Disclosures on equity [Line Items]
Total Other reserves	0	707	0
Others
Disclosure of Disclosures on equity [Line Items]
Total Other reserves	$ (721)	$ (721)	$ 0

Other current and non-current non-financial assets - Conciliation of Explorations in Execution (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Other current and non-current non-financial assets
Opening balance	$ 1,000	$ 2,666
Disbursements	4,227	1,736
Reclassifications	(1,528)	(3,402)
Total changes	2,699	(1,666)
Total	$ 3,699	$ 1,000

Related party disclosures - Significant Transactions with Related Parties (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Doktor Tarsa Tarim Sanayi AS
Related party disclosures [Line Items]
Revenue from sale of goods, related party transactions			$ 1,053
Ajay Europe SARL
Related party disclosures [Line Items]
Revenue from sale of goods, related party transactions	$ 45,205	$ 35,597	23,162
Dividend income	1,778	992	1,197
Ajay North America LLC
Related party disclosures [Line Items]
Revenue from sale of goods, related party transactions	41,814	27,763	20,259
Dividend income	1,576	1,233	1,967
Abu Dhabi Fertilizer Industries WWL
Related party disclosures [Line Items]
Dividend income	3,000	9,438
SQM Vitas Brasil Agroindustria
Related party disclosures [Line Items]
Revenue from sale of goods, related party transactions	51,748	79,086	41,341
SQM Vitas Peru S.A.C.
Related party disclosures [Line Items]
Revenue from sale of goods, related party transactions	58,077	17,016	17,723
Coromandel SQM India
Related party disclosures [Line Items]
Revenue from sale of goods, related party transactions		1,814	1,510
SQM Star Qingdao Corp Nutrition Co., Ltd.
Related party disclosures [Line Items]
Dividend income			2,223
Terra Tarsa Ukraine LLC
Related party disclosures [Line Items]
Revenue from sale of goods, related party transactions			737
Pavoni & C. Spa
Related party disclosures [Line Items]
Revenue from sale of goods, related party transactions	4,138	5,359	$ 1,125
Banco de Chile
Related party disclosures [Line Items]
Services received, related party transactions	(27,918)	(20,904)
Norte Grande S.A.
Related party disclosures [Line Items]
Revenue from sale of goods, related party transactions	142	146
El Mercurio S.A.P.
Related party disclosures [Line Items]
Services received, related party transactions	(90)	(131)
Compania de Seguros de Vida Consorcio Nacional
Related party disclosures [Line Items]
Services received, related party transactions	(31)	(134)
Entel PCS Telecomunicaciones S.A.
Related party disclosures [Line Items]
Services received, related party transactions	(228)	(157)
Empresa Nacional de Telecomunicaciones S.A.
Related party disclosures [Line Items]
Services received, related party transactions	(1,746)	(2,393)
Gonzalo Guerrero Yamamoto
Related party disclosures [Line Items]
Services received, related party transactions	(19)	$ (79)
Instituto Chileno administracion empresas
Related party disclosures [Line Items]
Services received, related party transactions	(46)
Fundacion para el desarrollo social
Related party disclosures [Line Items]
Services received, related party transactions	$ (7)

Financial instruments - Payments Made on Single Series Bonds, Second Issue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2020
Single series bond Two \| Interest payment
Financial instruments [Line Items]
Repayments of bonds, notes and debentures	$ 0	$ 6,875

Right-of-use assets and Lease liabilities

12 Months Ended

Dec. 31, 2022

Right-of-use assets and Lease liabilities

Right-of-use assets and Lease liabilities

Note 13 Right-of-use assets and Lease liabilities

13.1Right-of-use assets

Other

Reconciliation of changes

property,

Machinery,

in right-of-use assets as of

plant and

Transport

plant and

December 31, 2022, net value

Land

Buildings

equipment

Total

ThUS$

Opening Balance

17,353

20,951

—

2,578

11,726

52,608

Additions

1,599

736

—

186

16,675

19,196

Depreciation expenses

(12)

(3,846)

—

(965)

(4,383)

(9,206)

Transfer to property, plant and equipment

(622)

—

(1,114)

(1,736)

Other increases / decreases

(2)

—

(1)

Total changes

967

(3,112)

—

(773)

11,177

8,259

Closing balance

18,320

17,839

—

1,805

22,903

60,867

Other

Reconciliation of changes

property,

Machinery,

in right-of-use assets as of

plant and

Transport

plant and

December 31, 2021, net value

Land

Buildings

equipment

Total

ThUS$

Opening Balance

—

23,377

—

2,479

4,168

30,024

Additions

17,552

1,209

—

862

12,203

31,826

Depreciation expenses

(199)

(3,635)

—

(763)

(4,109)

(8,706)

Other increases / decreases

—

(536)

Total changes

17,353

(2,426)

—

7,558

22,584

Closing balance

17,353

20,951

—

2,578

11,726

52,608

The Company’s lease activities included the following aspects:

(a)	The nature of the Company’s lease activities is related to contracts focused primarily on business operations, mainly rights-of-use to equipment and real estate,

(b)

The Company does not estimate any significant future cash outflows that would potentially expose the Company, and these are likewise not reflected in the measurement of lease liabilities, related to concepts such as: (i) Variable lease payments, (ii) Extension options and termination options, (iii) Guaranteed residual value and (iv) Leases not yet undertaken but committed by the Company.

(c)	These are not subject to restrictions or agreements imposed by contracts.

There were no sales transactions with leases later in the period.

13.2Lease liabilities


	As of December 31, 2022		As of December 31, 2021
Lease liabilities	Current	Non-Current	Current	Non-Current
	ThUS$	ThUS$	ThUS$	ThUS$
Lease liabilities	12,149	49,585	7,704	46,519
Total	12,149	49,585	7,704	46,519

i) Current and non-current lease liabilities

Debtor

Creditor

Contract

Type of

Maturity

Tax ID No.

Company

Country

TAX ID No.

Supplier

Country

indexation unit

amortization

date

Effective rate

79.626.800-K

SQM Salar S.A.

Chile

83.776.000-3

Empresa Constructora Contex Ltda.

Chile

Monthly

03-31-2025

5.39%

79.626.800-K

SQM Salar S.A.

Chile

76.327.820-4

Maquinaria Astudillo y Hermanos Ltda.

Chile

Monthly

01-08-2026

2.89%

79.626.800-K

SQM Salar S.A.

Chile

76.005.787-8

Obras y Servicios para la Industria y Minería S.A.

Chile

Peso

Monthly

12-15-2026

2.61%

79.626.800-K

SQM Salar S.A.

Chile

76.976.580-8

Sociedad Comercial Grandleasing Chile Ltda

Chile

Monthly

06-01-2026

0.00%

79.626.800-K

SQM Salar S.A.

Chile

76.327.820-4

Maquinaria Astudillo y Hermanos Ltda.

Chile

Peso

Monthly

11-24-2025

2.89%

79.626.800-K

SQM Salar S.A.

Chile

76.158.471-5

Sociedad Inmobiliaria Amaru SpA

Chile

Monthly

07-11-2023

2.00%

79.626.800-K

SQM Salar S.A.

Chile

76.327.820-4

Maquinaria Astudillo y Hermanos Ltda.

Chile

Monthly

06-01-2026

3.26%

79.626.800-K

SQM Salar S.A.

Chile

76.951.498-8

Inversiones y Gestión New Energy SpA

Chile

Monthly

04-01-2024

0.00%

79.626.800-K

SQM Salar S.A.

Chile

76.536.499-K

Jungheinrich Rentalift SpA

Chile

Monthly

05-01-2028

2.90%

79.626.800-K

SQM Salar S.A.

Chile

83.472.500-2

Tattersall Maquinarias S.A.

Chile

Monthly

05-01-2028

2.90%

79.947.100-0

SQM Industrial S.A.

Chile

96.856.400-5

El Trovador S.A.

Chile

Monthly

02-08-2030

3.10%

79.947.100-0

SQM Industrial S.A.

Chile

76.976.580-8

Sociedad Comercial Grandleasing Chile Ltda

Chile

Monthly

08-26-2024

2.72%

79.947.100-0

SQM Industrial S.A.

Chile

76.536.499-K

Jungheinrich Rentalif SPA

Chile

Monthly

10-07-2024

3.49%

79.947.100-0

SQM Industrial S.A.

Chile

76.320.186-4

Tecno Fast S.A.

Chile

Monthly

12-31-2022

1.44%

96.592.190-7

SQM Nitratos S.A.

Chile

76.536.499-K

Jungheinrich Rentalif SPA

Chile

Monthly

10-07-2024

3.49%

93.007.000-9

SQM S.A.

Chile

76.536.499-K

Jungheinrich Rentalif SPA

Chile

Monthly

10-07-2024

3.49%

79.768.170-9

Soquimich Comercial S.A.

Chile

96.662.540-6

Containers Operators S.A.

Chile

Monthly

12-31-2022

0.81%

79.768.170-9

Soquimich Comercial S.A.

Chile

76.729.932-K

SAAM Logistics S.A.

Chile

Monthly

08-01-2022

0.81%

79.768.170-9

Soquimich Comercial S.A.

Chile

91.577.000-2

Muelles de Penco S.A.

Chile

Monthly

07-06-2023

1.30%

79.768.170-9

Soquimich Comercial S.A.

Chile

91.577.000-2

Muelles de Penco S.A.

Chile

Monthly

07-06-2023

1.30%

79.768.170-9

Soquimich Comercial S.A.

Chile

76.722.280-7

Inmobiliaria Chincui SPA

Chile

Monthly

05-01-2028

3.38%

79.768.170-9

Soquimich Comercial S.A.

Chile

96.565.580-8

Compañía de Leasing Tattersall S.A.

Chile

Monthly

07-05-2025

2.97%

79.768.170-9

Soquimich Comercial S.A.

Chile

91.577.000-2

Muelles de Penco S.A.

Chile

Monthly

03-01-2029

4.11%

Debtor

Creditor

Contract

Type of

Maturity

Tax ID No.

Company

Country

TAX ID No.

Supplier

Country

indexation unit

amortization

date

Effective rate

76.359.919-1

Orcoma SpA

Chile

70.017.320-8

Obispado de Iquique

Chile

Peso

Monthly

07-12-2036

6.16%

76.359.919-1

Orcoma SpA

Chile

73.190.800-1

Comunidad Indígena Aymara Pueblo de Pisiga Choque

Chile

Monthly

07-12-2024

2.53%

76.359.919-1

Orcoma SpA

Chile

6.848.218-6

Ruth del Carmen Cortez Maturana

Chile

Peso

Monthly

07-12-2031

7.44%

Foreign

SQM North America Corp.

USA

Foreign

Paces West LL.

USA

Dollar

Monthly

12-31-2027

3.36%

Foreign

SQM North America Corp.

USA

Foreign

Hawkins Nunmber One, LLC

USA

Dollar

Monthly

08-31-2024

3.33%

Foreign

SQM North America Corp.

USA

Foreign

Deep South Equipment Company

USA

Dollar

Monthly

03-24-2024

1.33%

Foreign

SQM North America Corp.

USA

Foreign

Tennant-South

USA

Dollar

Monthly

07-02-2023

1.00%

Foreign

SQM North America Corp.

USA

Foreign

Deacon Jones CDJR

USA

Dollar

Monthly

03-30-2024

2.81%

Foreign

SQM North America Corp.

USA

Foreign

Mt Mullahey Inc. Mullahey Chrysler Dodge

USA

Dollar

Monthly

09-11-2022

2.81%

Foreign

SQM North America Corp.

USA

Foreign

Berwyn Partners Inc.

USA

Dollar

Monthly

12-24-2024

1.34%

Foreign

SQM North America Corp.

USA

Foreign

Myers Ford Co Inc.

USA

Dollar

Monthly

06-25-2024

1.51%

Foreign

SQM North America Corp.

USA

Foreign

Ford Motor Credit Company

USA

Dollar

Monthly

05-17-2025

4.19%

Foreign

SQM North America Corp.

USA

Foreign

Porter and Howard INC.

USA

Dollar

Monthly

11-22-2025

5.64%

Foreign

SQM North America Corp.

USA

Foreign

Hanford Chrysler Dodge Jeep

USA

Dollar

Monthly

07-18-2025

4.44%

Foreign

SQM Comercial de México S.A. de C.V.

México

Foreign

Onni Ensenada S.A. de C.V.

México

Dollar

Monthly

12-03-2026

3.45%

Foreign

SQM Comercial de México S.A. de C.V.

México

Foreign

Madol Inmobiliaria S.A. de C.V.

México

Mexican Peso

Monthly

10-31-2023

7.84%

Foreign

SQM Comercial de México S.A. de C.V.

México

Foreign

Madol Inmobiliaria S.A. de C.V.

México

Mexican Peso

Monthly

10-31-2023

7.84%

Foreign

SQM Europe N.V.

Bélgica

Foreign

Straatsburgdok N.V.

Bélgica

Euro

Monthly

03-31-2027

1.30%

Foreign

SQM Australia PTY

Australia

Foreign

Eagle Petroleum (WA) Pty Ltd

Australia

Australian dollar

Monthly

06-21-2022

5.00%

Foreign

SQM Australia PTY

Australia

Foreign

The trust Company (Australia) Pty Ltd

Australia

Australian dollar

Monthly

01-31-2021

3.60%

Foreign

SQM Australia PTY

Australia

Foreign

Ausco Modular Pty Limited

Australia

Australian dollar

Monthly

01-31-2023

5.00%

Foreign

SQM Australia PTY

Australia

Foreign

Western Australian Land Authority

Australia

Australian dollar

Monthly

08-31-2051

3.55%

Foreign

SQM Australia PTY

Australia

Foreign

Mining Thiess Pty Ltd.

Australia

Australian dollar

Monthly

08-31-2051

3.55%

Foreign

SQM Colombia S.A.S.

Colombia

Foreign

Mareauto Colombia S.A.S.

Colombia

COP

Monthly

12-18-2023

2.01%

Foreign

SQM Colombia S.A.S.

Colombia

Foreign

Renting Colombia S.A.

Colombia

COP

Monthly

10-16-2024

2.72%

Foreign

SQM Colombia S.A.S.

Colombia

Foreign

Renting Colombia S.A.

Colombia

COP

Monthly

12-27-2024

2.17%

Foreign

SQM África Pty

Sudáfrica

Foreign

Goscor Finance (Pty) Ltd

Sudáfrica

ZAR

Monthly

11-01-2026

8.51%

(a)	As of December 31, 2022 and 2021, current lease liabilities are analyzed as follows:


Debtor	Creditor	Nominal amounts as of December 31, 2022			Amounts at amortized cost as of December 31, 2022
Company	Supplier	Up to 90 days	90 days to 1 year	Total	Up to 90 days	90 days to 1 year	Total
		ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
SQM Salar S.A.	Empresa Constructora Contex Ltda	540	1,619	2,159	482	1,483	1,965
SQM Salar S.A.	Maquinarias Industriales Astudillo Hermanos Ltda.	100	300	400	92	280	372
SQM Salar S.A.	Maquinarias Industriales Astudillo Hermanos Ltda.	48	145	193	44	136	180
SQM Salar S.A.	Sociedad Inmobiliaria Amaru SpA	49	49	98	49	49	98
SQM Salar S.A.	Maquinarias Industriales Astudillo Hermanos Ltda.	8	23	31	7	21	28
SQM Salar S.A.	Inversiones y Gestión New Energy SpA	108	325	433	108	325	433
SQM Salar S.A.	Jungheinrich Rentalif SpA	130	390	520	112	340	452
SQM Salar S.A.	Tattersall Maquinarias S.A.	55	164	219	47	143	190
SQM Salar S.A.	Obras y Servicios para la industria y Minera S.A	294	882	1,176	267	810	1,077
SQM Salar S.A.	Sociedad Comercial Grandlesing Chile Ltda	20	59	79	20	59	79
SQM Industrial S.A.	El Trovador S.A.	466	1,399	1,865	376	1,144	1,520
SQM Industrial S.A.	Sociedad Comercial Grandleasing Chile Ltda	180	540	720	173	526	699
SQM Industrial S.A.	Jungheinrich Rentalift SpA	30	88	118	28	85	113
SQM Nitratos S.A.	Jungheinrich Rentalift SpA	18	55	73	17	52	69
SQM S.A.	Jungheinrich Rentalift SpA	20	59	79	18	55	73
Orcoma SpA	Obispado de Iquique	1	4	5	1	2	3
Orcoma SpA	Comunidad Indígena Aymara Pueblo de Pisiga Choque	1	4	5	1	4	5
Orcoma SpA	Ruth del Carmen Cortez Maturana	1	3	4	1	2	3
Soquimich Comercial S.A.	Muelles de Penco S.A.	84	182	266	77	165	242
Soquimich Comercial S.A.	Muelles de Penco S.A.	43	59	102	44	59	103
Soquimich Comercial S.A.	Inmobiliaria Chincui SPA	157	471	628	131	401	532
Soquimich Comercial S.A.	Compañia de leasing Tattersall S.A.	58	174	232	54	165	219
SQM North America Corp.	Paces West LL.	56	173	229	47	148	195
SQM North America Corp.	Hawkins Nunmber One, LLC	34	100	134	31	97	128
SQM North America Corp.	Deep South Equipment Company	1	4	5	1	4	5
SQM North America Corp.	Tennant- South	1	1	2	2	1	3
SQM North America Corp.	Deacon Jones CDJR	2	6	8	2	6	8
SQM North America Corp.	Berwyn Partners Inc	2	6	8	2	6	8
SQM North America Corp.	Myers Ford Co Inc	2	6	8	2	5	7
SQM North America Corp.	Ford Motor Credit Company	2	5	7	2	5	7
SQM North America Corp.	Porter and Howard INC	1	4	5	1	3	4
SQM North America Corp.	Hanford Chrysler Dodge Jeep	1	3	4	1	4	5
SQM Comercial de México S.A. de C.V.	Onni Ensenada S.A. de C.V.	99	296	395	86	264	350
SQM Comercial de México S.A. de C.V.	Madol Inmobiliaria S.A. de C.V.	20	46	66	18	44	62
SQM Comercial de México S.A. de C.V.	Madol Inmobiliaria S.A. de C.V.	7	16	23	7	16	23
SQM Europe N.V.	Straatsburgdok N.V.	102	306	408	96	290	386
SQM Australia PTY	Ausco Modular Pty Limited	15	-	15	14	-	14
SQM Australia PTY	Western Australian Land Authority	105	387	492	54	94	148
SQM Australia PTY	Kwinana Refinery Lease - Laydown Area	25	74	99	23	71	94
SQM Australia PTY	Thiess Pty Ltd	640	1,828	2,468	538	1,573	2,111
SQM Australia PTY	Project JV	22	66	88	19	60	79
SQM Colombia S.A.S.	Mareauto Colombia S.A.S.	1	4	5	1	4	5
SQM Colombia S.A.S.	Renting Colombia S.A.	2	6	8	2	6	8
SQM Colombia S.A.S.	Renting Colombia S.A.	2	7	9	2	7	9
SQM Africa Pty	Goscor Finance (Pty) Ltd	12	36	48	8	27	35
Total		3,565	10,374	13,939	3,108	9,041	12,149


Debtor	Creditor	Nominal amounts as of December 31, 2021			Amounts at amortized cost as of December 31, 2021
Company	Supplier	Up to 90 days	90 days to 1 year	Total	Up to 90 days	90 days to 1 year	Total
		ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
SQM Salar S.A.	Empresa Constructora Contex Ltda	540	1,618	2,158	457	1,407	1,864
SQM Salar S.A.	Maquinarias Industriales Astudillo Hermanos Ltda.	100	300	400	89	272	361
SQM Salar S.A.	SKM Industrial Ltda.	202	135	337	197	133	330
SQM Salar S.A.	Maquinarias Industriales Astudillo Hermanos Ltda.	48	145	193	43	132	175
SQM Salar S.A.	Sociedad Inmobiliaria Amaru SpA	49	146	195	47	144	191
SQM Salar S.A.	Maquinarias Industriales Astudillo Hermanos Ltda.	8	23	31	7	20	27
SQM Industrial S.A.	El Trovador S.A.	466	1,399	1,865	364	1,110	1,474
SQM Industrial S.A.	Sociedad Comercial Grandleasing Chile Ltda	180	541	721	168	512	680
SQM Industrial S.A.	Jungheinrich Rentalift SpA	30	88	118	27	82	109
SQM Industrial S.A.	Tecnofast	18	56	74	18	55	73
SQM Nitratos S.A.	Jungheinrich Rentalift SpA	18	55	73	17	50	67
SQM S.A.	Jungheinrich Rentalift SpA	20	59	79	18	55	73
Orcoma Estudios SpA	Obispado de Iquique	1	4	5	1	1	2
Orcoma Estudios SpA	Comunidad Indígena Aymara Pueblo de Pisiga Choque	1	5	6	1	4	5
Orcoma Estudios SpA	Ruth del Carmen Cortez Maturana	1	3	4	1	1	2
Soquimich Comercial S.A.	Container Operators S.A.	86	257	343	85	257	342
Soquimich Comercial S.A.	Muelles de Penco S.A.	41	124	165	41	122	163
Soquimich Comercial S.A.	Muelles de Penco S.A.	44	134	178	44	131	175
Soquimich Comercial S.A.	Inmobiliaria Chincui SPA	157	471	628	127	388	515
Soquimich Comercial S.A.	Compañía de Leasing Tattersall S.A.	58	174	232	52	161	213
SQM North America Corp.	Paces West LL.	55	168	223	44	138	182
SQM North America Corp.	Hawkins Nunmber One, LLC	32	98	130	30	91	121
SQM North America Corp.	Deep South Equipment Company	1	4	5	1	4	5
SQM North America Corp.	Tennant- South	2	4	6	1	5	6
SQM Comercial de México S.A. de C.V.	Onni Ensenada S.A. de C.V.	99	296	395	84	254	338
SQM Comercial de México S.A. de C.V.	Madol Inmobiliaria S.A. de C.V.	20	58	78	17	53	70
SQM Comercial de México S.A. de C.V.	Madol Inmobiliaria S.A. de C.V.	7	21	28	6	19	25
SQM Europe N.V.	Straatsburgdok N.V.	102	306	408	95	288	383
SQM Australia PTY	Ausco Modular Pty Limited	9	25	34	8	24	32
SQM Australia PTY	Western Australian Land Authority	(52)	(227)	(279)	(103)	(244)	(347)
SQM Australia PTY	Eagle Petroleum (WA) Pty Ltd	5	6	11	3	8	11
SQM Australia PTY	Knight Frank	12	—	12	12	—	12
SQM Colombia S.A.S.	Mareauto Colombia S.A.S.	2	4	6	2	4	6
SQM Colombia S.A.S.	Renting Colombia S.A.	2	7	9	2	7	9
SQM Colombia S.A.S.	Renting Colombia S.A.	3	7	10	3	7	10
Total		2,367	6,514	8,881	2,009	5,695	7,704

(b)	As of December 31, 2022 and 2021, the non-current lease liabilities are analyzed as follows:


Debtor	Creditor	Nominal amounts as of December 31, 2022				Amounts at amortized cost as of December 31, 2022
Company	Supplier	1-2 Years	2-3 Years	3-4 Years	Total	1-2 Years	2-3 Years	3-4 Years	Total
		ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
SQM Salar S.A.	Empresa Constructora Contex Ltda.	2,698	—	—	2,698	2,606	—	—	2,606
SQM Salar S.A.	Maquinarias Industriales Astudillo Hermanos Ltda.	800	33	—	833	775	33	—	808
SQM Salar S.A.	Maquinarias Industriales Astudillo Hermanos Ltda.	370	—	—	370	359	—	—	359
SQM Salar S.A.	Maquinarias Industriales Astudillo Hermanos Ltda.	62	13	—	75	59	13	—	72
SQM Salar S.A.	Inversiones y Gestión New Energy SpA.	144	—	—	144	145	—	—	145
SQM Salar S.A.	Jungheinrich Rentalift SpA.	1,041	1,041	217	2,299	943	999	215	2,157
SQM Salar S.A.	Tattersall Maquinarias S.A.	439	439	91	969	397	421	91	909
SQM Salar S.A.	Obras y Servicios para la industria y Minera S.A.	1,176	1,176	1,078	3,430	1,104	1,133	1,064	3,301
SQM Salar S.A.	Sociedad Comercial Grandlesing Chile Ltda	79	79	39	197	79	79	40	198
SQM Industrial S.A.	El Trovador S.A.	3,730	5,595	2,176	11,501	3,182	5,152	2,135	10,469
SQM Industrial S.A.	Sociedad Comercial Grandleasing Chile Ltda	420	—	—	420	417	—	—	417
SQM Industrial S.A.	Jungheinrich Rentalift SpA	98	—	—	98	97	—	—	97
SQM Nitratos S.A.	Jungheinrich Rentalift SpA	61	—	—	61	60	—	—	60
SQM S.A.	Jungheinrich Rentalift SpA	66	—	—	66	65	—	—	65
Orcoma Estudios SpA	Obispado de Iquique	10	14	36	60	5	8	29	42
Orcoma Estudios SpA	Comunidad Indígena Aymara Pueblo de Pisiga Choque	4	—	—	4	3	—	—	3
Orcoma Estudios SpA	Ruth del Carmen Cortez Maturana	8	12	10	30	3	3	18	24
Soquimich Comercial S.A.	Muelles de Penco S.A.	170	102	261	533	153	90	244	487
Soquimich Comercial S.A.	Inmobiliaria Chincui SPA	1,255	1,517	—	2,772	1,119	1,455	—	2,574
Soquimich Comercial S.A.	Compañia de leasing Tattersall S.A	349	—	—	349	340	—	—	340
SQM North America Corp.	Paces West LL.	479	508	—	987	431	491	—	922
SQM North America Corp.	Hawkins Nunmber One, LLC	90	—	—	90	89	—	—	89
SQM North America Corp.	Deep South Equipment Company	1	—	—	1	1	—	—	1
SQM North America Corp.	Deacon Jones CDJR	2	—	—	2	2	—	—	2
SQM North America Corp.	Berwyn Partners Inc	8	—	—	8	8	—	—	8
SQM North America Corp.	Myers Ford Co Inc	4	—	—	4	4	—	—	4
SQM North America Corp.	Ford Motor Credit Company	12	—	—	12	9	—	—	9
SQM North America Corp.	Porter and Howard INC	5	4	—	9	5	4	—	9
SQM North America Corp.	Hanford Chrysler Dodge Jeep	5	3	—	8	5	3	—	8
SQM Comercial de México S.A. de C.V.	Onni Ensenada S.A. de C.V.	789	362	—	1,151	738	356	—	1,094
SQM Europe N.V.	Straatsburgdok N.V.	888	564	—	1,452	861	559	—	1,420
SQM Australia PTY	Kwinana Refinery Lease - Laydown Area	25	—	—	25	24	—	—	24
SQM Australia PTY	Thiess Pty Ltd	2,231	2,422	—	4,653	2,858	—	—	2,858
SQM Australia PTY	Western Australian Land Authority	1,616	3,162	23,894	28,672	61	1,619	16,102	17,782
SQM Australia PTY	Project JV	83	—	—	83	80	—	—	80
SQM Colombia S.A.S.	Renting Colombia S.A.	7	—	—	7	7	—	—	7
SQM Colombia S.A.S.	Renting Colombia S.A.	11	—	—	11	11	—	—	11
SQM Africa Pty	Goscor Finance (Pty) Ltd	12	36	48	96	82	42	—	124
Total		19,248	17,082	27,850	64,180	17,187	12,460	19,938	49,585


Debtor	Creditor	Nominal amounts as of December 31, 2021				Amounts at amortized cost as of December 31, 2021
Company	Supplier	1-2 Years	2-3 Years	3-4 Years	Total	1-2 Years	2-3 Years	3-4 Years	Total
		ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
SQM Salar S.A.	Empresa Constructora Contex Ltda	4,317	540	—	4,857	4,036	535	—	4,571
SQM Salar S.A.	Maquinarias Industriales Astudillo Hermanos Ltda.	800	434	—	1,234	754	426	—	1,180
SQM Salar S.A.	SKM Industrial Ltda.	—	—	—	—	—	—	—	—
SQM Salar S.A.	Maquinarias Industriales Astudillo Hermanos Ltda.	386	177	—	563	365	174	—	539
SQM Salar S.A.	Sociedad Inmobiliaria Amaru SpA	98	—	—	98	97	—	—	97
SQM Salar S.A.	Maquinarias Industriales Astudillo Hermanos Ltda.	62	44	—	106	57	43	—	100
SQM Industrial S.A.	El Trovador S.A.	3,730	5,594	4,040	13,364	3,086	4,997	3,905	11,988
SQM Industrial S.A.	Sociedad Comercial Grandleasing Chile Ltda	1,141	—	—	1,141	1,115	—	—	1,115
SQM Industrial S.A.	Jungheinrich Rentalift SpA	216	—	—	216	209	—	—	209
SQM Industrial S.A.	Tecnofast	—	—	—	—	—	—	—	—
SQM Nitratos S.A.	Jungheinrich Rentalift SpA	134	—	—	134	129	—	—	129
SQM S.A.	Jungheinrich Rentalift SpA	145	—	—	145	141	—	—	141
Orcoma Estudios SpA	Obispado de Iquique	10	14	41	65	5	8	32	45
Orcoma Estudios SpA	Comunidad Indígena Aymara Pueblo de Pisiga Choque	8	—	—	8	8	—	—	8
Orcoma Estudios SpA	Ruth del Carmen Cortez Maturana	8	12	14	34	5	8	12	25
Soquimich Comercial S.A.	Container Operators S.A.	—	—	—	—	—	—	—	—
Soquimich Comercial S.A.	Muelles de Penco S.A.	96	—	—	96	96	—	—	96
Soquimich Comercial S.A.	Muelles de Penco S.A.	104	—	—	104	103	—	—	103
Soquimich Comercial S.A.	Inmobiliaria Chincui SPA	1,255	1,883	261	3,399	1,082	1,766	259	3,107
Soquimich Comercial S.A.	Compañía de Leasing Tattersall S.A.	465	116	—	581	444	115	—	559
SQM North America Corp.	Paces West LL.	465	752	—	1,217	403	714	—	1,117
SQM North America Corp.	Hawkins Nunmber One, LLC	224	—	—	224	217	—	—	217
SQM North America Corp.	Deep South Equipment Company	6	—	—	6	6	—	—	6
SQM North America Corp.	Tennant- South	3	—	—	3	3	—	—	3
SQM Comercial de México S.A. de C.V.	Onni Ensenada S.A. de C.V.	789	756	—	1,545	713	731	—	1,444
SQM Comercial de México S.A. de C.V.	Madol Inmobiliaria S.A. de C.V.	65	—	—	65	63	—	—	63
SQM Comercial de México S.A. de C.V.	Madol Inmobiliaria S.A. de C.V.	24	—	—	24	23	—	—	23
SQM Europe N.V.	Straatsburgdok N.V.	844	1,015	—	1,859	807	1,000	—	1,807
SQM Australia PTY	Ausco Modular Pty Limited	15	—	—	15	15	—	—	15
SQM Australia PTY	Western Australian Land Authority	1,184	2,995	24,724	28,903	(86)	1,146	16,710	17,770
SQM Colombia S.A.S.	Mareauto Colombia S.A.S.	6	—	—	6	6	—	—	6
SQM Colombia S.A.S.	Renting Colombia S.A.	15	—	—	15	15	—	—	15
SQM Colombia S.A.S.	Renting Colombia S.A.	21	—	—	21	21	—	—	21
Total		16,636	14,332	29,080	60,048	13,938	11,663	20,918	46,519

Other lease disclosures

Total lease expenses related to lease payments that did not qualify under the scope of IFRS 16 were ThUS$ 78,880, ThUS$ 71,897 and ThUS$ 61,689 for the periods ended December 31, 2022, 2021 and 2020. See Note 21.8.

Expenses related to variable payments not included in lease liabilities were ThUS$ 3,631, ThUS$ 1,313 and ThUS$ 1,117 for the periods ending December 31, 2022, 2021 and 2020.

Income from subleases on right-of-use assets were ThUS$ 142, ThUS$ 146 and ThUS$ 176 as of December 31, 2022, 2021 and 2020, respectively.

Payments for contractual operating leases are disclosed in Note 4.2 Liquidity Risk.

Contingencies and restrictions

12 Months Ended

Dec. 31, 2022

Contingencies and restrictions

Contingencies and restriction

Note 20 Contingencies and restrictions

In accordance with note 18.1, the Company recognizes a provision for those lawsuits in which there is a probability that the judgments will be unfavorable to the Company. The Company is party to the following lawsuits and other relevant legal actions:

20.1Lawsuits and other relevant events

(a)

In August 1996, Nitratos Naturais do Chile Ltda. was fined by Fazenda do Estado de Sao Paulo for concluding activities without attaching the necessary documentation for submission to the competent authorities. The treasury of the State of Sao Paulo initiated legal actions to collect close to ThUS$ 492. Nitratos Naturais do Chile has presented a case to the federal court of Brazil to request a reduction in the fine, which is currently pending.

(b)

In August 2004, Nitratos Naturais do Chile Ltda. was fined by Fazenda do Estado de Sao Paulo for failing to report trade activities. The treasury of the State of Sao Paulo initiated legal actions to collect close to ThUS$ 265. In 2018, the Court of Appeals agreed to a reduction in the fine and the Fazenda do Estado de Sao Paulo appealed to the Court of Brazil, and this appeal is still pending.

(c)

In December 2010, the city of Pomona in the state of California, United States, filed a claim against SQM NA, which was heard before the US District Court for the Central District of California. The plaintiff requested the payment of expenses and other values related to treatment of groundwater to make it apt for consumption, which involved the extraction of perchlorate in this water, which allegedly came from Chilean fertilizers. On January 27, 2022, a judgment was issued against SQM NA for US$ 48.1 million, which has been appealed. The Company has recorded a charge of US$ 48.1 million before taxes to the income statement for the year ended December 30, 2021.

(d)

In December 2010, the city of Lindsay in California, United States, filed a claim against SQM NA, which was heard before the US District Court for the Central District of California. The plaintiff requested the payment of expenses and other values related to treatment of groundwater to make it apt for consumption, which involved the extraction of perchlorate in this water, which allegedly came from Chilean fertilizers, the trial is currently suspended.

(e)

In May 2014, a claim of compensation for damages was filed against SQM Nitratos for its alleged extracontractual liability derived from an explosion occurring in 2010 in the vicinity of the town of Baquedano, which caused the death of six workers. The portion of the claim that has not been settled in court is approximately US$ 1.2. million On May 7, 2019, the 18th Civil Court of Santiago dismissed the claim. The case currently is in the Santiago Court of Appeals, which will make a determination on the motion for appeal and cassation brought about on behalf of the plaintiff.

(f)

In January 2018, the company Transportes Buen Destino S.A. filed an arbitration claim under CAM rules against SQM Salar for controversies resulting from the execution of transport contracts for lithium brine and transport of salts. The amount of the claim is close to US$ 3 Million. The arbitration is currently in the evidence stage.

(g)

In September 2018, representatives Claudia Nathalie Mix Jiménez, Gael Fernanda Yeomans Araya, Camila Ruzlay Rojas Valderrama filed a public right annulment suit against Corfo regarding the Salar de Atacama Project Contract signed between Corfo and SQM Salar. The Company has intervened as an independent third party. This discussion stage has concluded. For more information, see Note 20.4.

(h)

The Company and FPC Ingeniería y Construcción SpA were sued in May 2019 for compensation for damages resulting from alleged extracontractual liability derived from the traffic accident occurring on March 5, 2018, involving the overturn of a truck owned by FPC and the subsequent death of its two occupants, both employees of FPC. The four children of one of the deceased workers are the plaintiffs in this case and are seeking compensation for moral damages. The case is in the 19th Civil Court of Santiago and is in the evidence stage. The amount of the claim is close to US$ 1.2 million.

(i)	The Company has initiated an arbitration process against the company Sierra Gorda S.C.M. due to controversies originating from the Mining, Royalties and Other Sales Contract dated December 16, 2011. Sierra Gorda S.C.M. has

filed counterclaims against the Company. The counterclaims filed against the Company amount to US$ 46 million.On October 4, 2022, a judgment was issued ordering the Company to pay US$ 3.6 million as a fine. This judgment was appealed by the Company, which is pending resolution before the Court of Appeals of Santiago.

(j)

Through resolution dated April 14, 2020, the General Water Bureau (DGA) fined SQM Salar S.A. an amount of 4,180 UTM for the alleged violation of article 294 of the Water Code. This resolution was appealed for reconsideration as established in article 136 of the Water Code, and its resolution is currently pending.

(k)

On January 7, 2021, the Company Ocaña y Vega Limited has requested arbitration against the Company to claim compensation for damages associated with the early termination of two construction contracts. The case has reached the evidence gathering stage. The cost of arbitration is valued at approximately ThUS$ 377.

(l)

On April 6, 2021, Empresa Eléctrica Cochrane SpA requested the constitution of arbitration to resolve a dispute in relation to electricity supply contracts signed on March 30, 2012, and February 1, 2013. The trial is currently in the discussion stage. On January 17, 2022, the Company filed a claim for early termination of the electricity supply contracts against Empresa Eléctrica Cochrane SpA. at the same arbitration tribunal. The discussion. Both trials have reached the evidence stage.

(m)

In October 2021, the Company requested the constitution of an arbitration against Chilena Consolidada Seguros Generales S.A. to resolve differences in relation to the interpretation and execution of the directors’ and officers’ liability insurance policy. The lawsuit has been notified to the arbitrator.

(n)

In February 2022, the company Montajes Eléctricos y Construcciones RER Limitada filed a claim for damages before the 21st Civil Court of Santiago against SQM Industrial S.A. for its alleged liability derived from the breach of an electrical installation contract. The case is still in the discussion stage. The amount of the lawsuit is approximately ThUS$ 542.

(o)

In June 2022, Mrs. Lorena Saa Nuñez and others filed a lawsuit against the Company with the Labor Court of Pozo Almonte seeking compensation for damages moral damages and lost profits resulting from the death of worker Oscar Muñoz Meza. The case has reached the ruling stage. The lawsuit is for approximately ThUS$ 493.

The Company and its subsidiaries have been involved and will probably continue to be involved either as plaintiffs or defendants in certain judicial proceedings that have been and will be heard by the arbitration or ordinary courts of justice that will make the final decision. Those proceedings that are regulated by the appropriate legal regulations are intended to exercise or oppose certain actions or exceptions related to certain mining claims either granted or to be granted and that do not or will not affect in an essential manner the development of the Company and its subsidiaries.

Soquimich Comercial S.A. has been involved and will probably continue being involved either as plaintiff or defendant in certain judicial proceedings through which it intends to collect and receive the amounts owed, the total nominal value of which is approximately US$ 1.05 million.

The Company and its subsidiaries have made efforts and continues making efforts to obtain payment of certain amounts that are still owed to the Company due to its activities. Such amounts will continue to be required using judicial or non-judicial means by the plaintiffs, and the actions and exercise related to these are currently in full force and effect.

20.2Environmental contingencies

The SMA issued a resolution dated November 28, 2016, rectified by a resolution dated December 23, 2016, which filed charges against SQM Salar for brine extraction in excess of authorized amounts, progressive impairment of the vitality of carob trees, providing incomplete information modification of follow-up plan variables, and other charges. SQM Salar S.A. presented a compliance program that was accepted by the SMA. On December 2019, the Environmental Court of Antofagasta rendered the accepted compliance program null. In October 2020, the SMA formulated new observations for the compliance program, which will enable the incorporation of improvements in line with the ruling of the Environmental Court of Antofagasta, to then make a determination regarding approval or rejection. If a new compliance program is not

approved by the SMA, or if approved and legally challenged and rendered null and void by the Chilean courts, the sanction process against SQM Salar could be resumed. This latter event may consider the application of fines up to MUS$9, temporary or permanent closure of facilities and in extreme circumstances, revocation of the respective environmental permit.

20.3Tax Contingencies

SQM Salar has filed three tax claims against the SII for taxes levied between tax years 2012 and 2018 (business years 2011 to 2017). The SII has sought to broaden the application of the specific tax on mining activities to the extraction of lithium, a substance that is not concessionable by law. The amount associated with these processes totals US$ 127.1 million, which has been paid by SQM Salar. This amount is recorded under “Non-current tax assets” in the Consolidated Statement of Financial Position of the Company as of December 31, 2022 and 2021.

The details of the claims can be found below:

(a)

On August 26, 2016, a tax claim was filed with the Third Tax and Customs Court of the Metropolitan Region against tax assessments No. 169, 170, 171 and 172 for tax years 2012 to 2014. The amount in dispute is US$ 17.8 million, of which (i) US$ 11.5 million correspond to the contested tax (minus effect on first category income tax), and (ii) US$ 6.3 million correspond to interest and associated fines. On November 28, 2018, the Santiago Court of Appeals ruled invalid the first instance ruling handed down by the Tax and Customs Court, ordering the case reopened with the competent judge hearing evidence in the case.

(b)

On March 24, 2017, a tax claim was filed with the Third Tax and Customs Court of the Metropolitan Region against tax assessment No. 207 and resolution No. 156, both issued by the SII, for tax years 2015 to 2016. The amount in dispute is US$ 8.6 million, of which (i) US$ 1.3 million correspond to amounts assessed in excess, (ii) US$ 6.9 million correspond to the contested tax (minus effect on first category income tax), and (ii) US$ 0.4 million correspond to interest and fines. On November 28, 2022, the Santiago Court of Appeals ruled invalid the first instance ruling of the Tax and Customs Court, ordering the case reopened with the competent judge hearing evidence in the case.

(c)

On July 15, 2021, SQM Salar filed a public right annulment suit and tax claim with the First Tax and Customs Court of the Metropolitan Region against tax assessments No. 65 and 66 for the 2017 and 2018 tax years. The amount in dispute is US$ 63.9 million, of which (i) US$ 17.6 million correspond to overcharged amounts, (ii) US$ 30.2 million correspond to the contested tax (minus effect on first category income tax), and (iii) US$ 16.1 million correspond to interest and fines. On November 7, 2022, the First Tax and Customs Court upheld SQM Salar's claim and ordered that these tax assessments be anulled.

On September 29, 2022, the SII assessed the differences for the 2019 tax year with respect to specific mining tax and other adjustments that totalled US$ 36.8 million, which includes an excess collection of US$ 9.7 million. SQM Salar paid the amount assessed, and has one year to appeal against this assessment, which it intends to do in a vigorous manner. The SII has not issued an assessment claiming differences in specific mining tax filed for tax years 2020 onward. If the SII uses criteria similar to that used in previous years, it may issue an assessment in the future for this period. The Company estimates a potential assessment of US$ 745.3 million (corporate income tax deducted) by the SII, without considering interests and fines.

To date, the Company has recorded no effect corresponding to this tax on its profit and loss.

20.4Contingencies regarding to the Contracts with Corfo

On September 6, 2018, representatives Claudia Nathalie Mix Jiménez, Gael Fernanda Yeomans Araya and Camila Ruslay Rojas Valderrama and the Poder Ciudadano political party filed an annulment suit against Corfo, which requested that the Salar de Atacama Project Agreement between Corfo and the Company, SQM Potasio and SQM Salar be annulled. The Companies have taken part of the process as interested third parties.

In the event that the annulment claim is approved for the Salar de Atacama Project Agreement, SQM Salar may be prevented from the exploitation of the mining assets in the Salar de Atacama that it has leased from Corfo.

20.5Restricted or pledged cash

The subsidiary Isapre Norte Grande Ltda., in compliance with the provisions established by the Chilean Superintendence of Healthcare, which regulates the running of pension-related health institutions, maintains a guarantee in financial instruments delivered in deposits, custody and administration to Banco de Chile.

This guarantee, according to the regulations issued by the Chilean Superintendence of Healthcare is equivalent to the total amount owed to its members and medical providers, Banco de Chile reports the present value of the guarantee to the Chilean Superintendence of Healthcare and Isapre Norte Grande Ltda on a daily basis. As of December 31, 2022, the guarantee amounts to ThUS$ 717.

20.6Indirect guarantees

As of December 31, 2022 and 2021, there are no indirect guarantees.

Right-of-use assets and Lease liabilities - Reconciliation of Changes in ROU Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Disclosure of quantitative information about right-of-use assets [line items]
Opening Balance	$ 52,608	$ 30,024
Additions	19,196	31,826
Depreciation of right-of-use assets	(9,206)	(8,706)
Transfer to property, plant and equipment	(1,736)
Other increases / decreases	5	(536)
Total changes	8,259	22,584
Closing balance	60,867	52,608
Land
Disclosure of quantitative information about right-of-use assets [line items]
Opening Balance	17,353	0
Additions	1,599	17,552
Depreciation of right-of-use assets	(12)	(199)
Transfer to property, plant and equipment	(622)
Other increases / decreases	2	0
Total changes	967	17,353
Closing balance	18,320	17,353
Buildings
Disclosure of quantitative information about right-of-use assets [line items]
Opening Balance	20,951	23,377
Additions	736	1,209
Depreciation of right-of-use assets	(3,846)	(3,635)
Transfer to property, plant and equipment	0
Other increases / decreases	(2)
Total changes	(3,112)	(2,426)
Closing balance	17,839	20,951
Other property, plant and equipment
Disclosure of quantitative information about right-of-use assets [line items]
Opening Balance	0	0
Additions	0	0
Depreciation of right-of-use assets	0	0
Transfer to property, plant and equipment	0
Other increases / decreases	0	0
Total changes	0	0
Closing balance	0	0
Transport equipment
Disclosure of quantitative information about right-of-use assets [line items]
Opening Balance	2,578	2,479
Additions	186	862
Depreciation of right-of-use assets	(965)	(763)
Transfer to property, plant and equipment	0
Other increases / decreases	6	0
Total changes	(773)	99
Closing balance	1,805	2,578
Machinery, plant and equipment
Disclosure of quantitative information about right-of-use assets [line items]
Opening Balance	11,726	4,168
Additions	16,675	12,203
Depreciation of right-of-use assets	(4,383)	(4,109)
Transfer to property, plant and equipment	(1,114)
Other increases / decreases	(1)	(536)
Total changes	11,177	7,558
Closing balance	$ 22,903	$ 11,726

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Classes of cash receipts generated from operating activities
Cash receipts from sales of goods and rendering of services	$ 10,954,251	$ 2,705,250	$ 1,940,720
Cash receipts from premiums and benefits, annuities and other benefits from policies entered	1,345	1,902	14,763
Cash receipts derived from sub-leases	129	443	188
Classes of Payments
Cash payments to suppliers for the provision of goods and services	(5,255,694)	(1,713,922)	(1,520,209)
Cash payments relating to variable leases	(3,631)	(1,313)	(1,117)
Other payments related to operating activities	(24,148)	(16,726)	(87,278)
Net cash generated from operating activities	5,672,252	975,634	347,067
Dividends received	6,354	11,663	5,387
Interest paid	(109,697)	(82,816)	(81,567)
Interest paid on lease liabilities	(1,226)	(1,587)	(1,133)
Interest received	48,120	2,747	17,046
Income taxes paid	(1,648,668)	(142,730)	(200,624)
Other cash inflows	110,460	59,609	96,058
Net cash generated from operating activities	4,077,595	822,520	182,234
Cash flows generated from (used in) investing activities
Proceeds from the sale of equity instruments	4,745	16,413	0
Cash flows arising from the loss/gain of control of subsidiaries and other businesses		0	20,996
Proceeds from the sale of property, plant and equipment	112	672	1,680
Other payments to acquire interest in joint ventures	0	0	(16,949)
Cash flows proceeds from the sale of interest in joint ventures		13,085	0
Acquisition of property, plant and equipment	(905,247)	(464,718)	(322,242)
Proceeds from sales of intangible assets	3,624	14,773	8,203
Proceeds (payments) related to futures, forward options and swap contracts	39,878	2,328	(6,902)
Purchases of intangible assets		0	(579)
Loans from / to related parties	873	13,086	(15,000)
Purchase of other long-term assets	(11,341)	(8,071)	0
Other cash (outflows) inflows	(42,045)	(594,511)	163,702
Cash flow used in investing activities	(909,401)	(1,006,943)	(167,091)
Cash flows generated from (used in) financing activities
Repayment of lease liabilities	(10,478)	(7,960)	(8,015)
Proceeds from long-term loans	200,000	700,000	400,000
Receipts from short-term loans	60,000
Payment of borrowings	(14,110)	(14,110)	(264,122)
Payment of dividends	(2,238,381)	(571,702)	(221,995)
Capital stock increase		1,100,257
Net cash flow (used in) generated from financing activities	(2,002,969)	1,206,485	(94,132)
Net Increase in cash and cash equivalents before the effect of changes in the exchange rate	1,165,225	1,022,062	(78,989)
Effects of exchange rate fluctuations on cash and cash equivalents	(25,040)	(16,113)	(439)
Increase in cash and cash equivalents	1,140,185	1,005,949	(79,428)
Cash and cash equivalents at beginning of year	1,515,051	509,102	588,530
Cash and cash equivalents at end of year	$ 2,655,236	$ 1,515,051	$ 509,102

Cash and cash equivalents - Short-Term Deposits, Classified as Cash Equivalents (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Cash And Cash Equivalents [Line Items]
Principal	$ 345,949	$ 43,396
Short-term deposits, classified as cash equivalents	$ 1,099,441	$ 237,655
Short term deposit One [Member]
Cash And Cash Equivalents [Line Items]
Short term deposits, Interest rate	0.95%	0.58%
Principal	$ 42,998	$ 200,000
Interest accrued to date	609	100
Short-term deposits, classified as cash equivalents	$ 43,607	$ 200,100
Short term deposit Two [Member]
Cash And Cash Equivalents [Line Items]
Short term deposits, Interest rate	0.94%	0.31%
Principal	$ 100,817	$ 1,250
Interest accrued to date	537
Short-term deposits, classified as cash equivalents	$ 101,354	$ 1,250
Short term deposit Three [Member]
Cash And Cash Equivalents [Line Items]
Short term deposits, Interest rate	0.96%	0.36%
Principal	$ 41,421	$ 8,000
Interest accrued to date	343	2
Short-term deposits, classified as cash equivalents	$ 41,764	$ 8,002
Short term deposit Four [Member]
Cash And Cash Equivalents [Line Items]
Short term deposits, Interest rate	0.96%	0.28%
Principal	$ 100,660	$ 500
Interest accrued to date	644
Short-term deposits, classified as cash equivalents	$ 101,304	$ 500
Short term deposit Five [Member]
Cash And Cash Equivalents [Line Items]
Short term deposits, Interest rate	0.95%	3.12%
Principal	$ 32,248	$ 3,550
Interest accrued to date	458	2
Short-term deposits, classified as cash equivalents	$ 32,706	$ 3,552
Short term deposit Six [Member]
Cash And Cash Equivalents [Line Items]
Short term deposits, Interest rate	0.95%	0.26%
Principal	$ 73,831	$ 2,500
Interest accrued to date	1,070
Short-term deposits, classified as cash equivalents	$ 74,901	$ 2,500
Short term deposit Seven [Member]
Cash And Cash Equivalents [Line Items]
Short term deposits, Interest rate	0.96%	0.40%
Principal	$ 30,146	$ 1,500
Interest accrued to date	183
Short-term deposits, classified as cash equivalents	$ 30,329	$ 1,500
Short term deposit Eight [Member]
Cash And Cash Equivalents [Line Items]
Short term deposits, Interest rate	0.95%	0.40%
Principal	$ 103,288	$ 1,500
Interest accrued to date	523
Short-term deposits, classified as cash equivalents	$ 103,811	$ 1,500
Short term deposit Nine [Member]
Cash And Cash Equivalents [Line Items]
Short term deposits, Interest rate	0.94%	0.30%
Principal	$ 20,710	$ 5,000
Interest accrued to date	168	1
Short-term deposits, classified as cash equivalents	$ 20,878	$ 5,001
Short term deposit Ten [Member]
Cash And Cash Equivalents [Line Items]
Short term deposits, Interest rate	0.96%	0.37%
Principal	$ 50,330	$ 1,000
Interest accrued to date	322
Short-term deposits, classified as cash equivalents	$ 50,652	$ 1,000
Short term deposit Eleven [Member]
Cash And Cash Equivalents [Line Items]
Short term deposits, Interest rate	0.98%	0.34%
Principal	$ 100,487	$ 2,000
Interest accrued to date	621
Short-term deposits, classified as cash equivalents	$ 101,108	$ 2,000
Short term deposit Twelve [Member]
Cash And Cash Equivalents [Line Items]
Short term deposits, Interest rate	0.96%	0.27%
Principal	$ 70,341	$ 2,750
Interest accrued to date	428
Short-term deposits, classified as cash equivalents	$ 70,769	$ 2,750
Short term deposit Thirteen [Member]
Cash And Cash Equivalents [Line Items]
Short term deposits, Interest rate	0.97%	0.06%
Principal	$ 100,258	$ 3,000
Interest accrued to date	584
Short-term deposits, classified as cash equivalents	$ 100,842	$ 3,000
Short term deposit Fourteen [Member]
Cash And Cash Equivalents [Line Items]
Short term deposits, Interest rate	4.54%	0.07%
Principal	$ 82,000	$ 5,000
Interest accrued to date	424
Short-term deposits, classified as cash equivalents	$ 82,424	5,000
Short term deposit Fifteen [Member]
Cash And Cash Equivalents [Line Items]
Short term deposits, Interest rate	4.54%
Principal	$ 122,000
Interest accrued to date	631
Short-term deposits, classified as cash equivalents	$ 122,631
Short term deposit Sixteen [Member]
Cash And Cash Equivalents [Line Items]
Short term deposits, Interest rate	0.42%
Principal	$ 2,000
Interest accrued to date	7
Short-term deposits, classified as cash equivalents	$ 2,007
Short term deposit Seventeen [Member]
Cash And Cash Equivalents [Line Items]
Short term deposits, Interest rate	0.44%
Principal	$ 1,500
Interest accrued to date	6
Short-term deposits, classified as cash equivalents	$ 1,506
Short term deposit Eighteen [Member]
Cash And Cash Equivalents [Line Items]
Short term deposits, Interest rate	0.22%
Principal	$ 2,103
Interest accrued to date	1
Short-term deposits, classified as cash equivalents	$ 2,104
Short term deposit Nineteen [Member]
Cash And Cash Equivalents [Line Items]
Short term deposits, Interest rate	0.95%
Principal	$ 600
Interest accrued to date	2
Short-term deposits, classified as cash equivalents	$ 602
Short term deposit Twenty [Member]
Cash And Cash Equivalents [Line Items]
Short term deposits, Interest rate	1.02%
Principal	$ 500
Interest accrued to date	2
Short-term deposits, classified as cash equivalents	$ 502
Short term deposit Twenty One [Member]
Cash And Cash Equivalents [Line Items]
Short term deposits, Interest rate	0.46%
Principal	$ 1,000
Interest accrued to date	4
Short-term deposits, classified as cash equivalents	$ 1,004
Short term deposit Twenty Two [Member]
Cash And Cash Equivalents [Line Items]
Short term deposits, Interest rate	0.42%
Principal	$ 700
Interest accrued to date	2
Short-term deposits, classified as cash equivalents	$ 702
Short term deposit Twenty Three [Member]
Cash And Cash Equivalents [Line Items]
Short term deposits, Interest rate	1.07%
Principal	$ 1,700
Interest accrued to date	3
Short-term deposits, classified as cash equivalents	$ 1,703
Short term deposit Twenty Four [Member]
Cash And Cash Equivalents [Line Items]
Short term deposits, Interest rate	0.66%
Principal	$ 1,000
Interest accrued to date	3
Short-term deposits, classified as cash equivalents	$ 1,003
Short term deposit Twenty Five [Member]
Cash And Cash Equivalents [Line Items]
Short term deposits, Interest rate	0.64%
Principal	$ 2,500
Interest accrued to date	15
Short-term deposits, classified as cash equivalents	$ 2,515
Short term deposit Twenty Six [Member]
Cash And Cash Equivalents [Line Items]
Short term deposits, Interest rate	0.72%
Principal	$ 2,200
Interest accrued to date	1
Short-term deposits, classified as cash equivalents	$ 2,201
Short term deposit Twenty Seven [Member]
Cash And Cash Equivalents [Line Items]
Short term deposits, Interest rate	0.96%
Principal	$ 500
Short-term deposits, classified as cash equivalents	$ 500
Short term deposit Twenty Eight [Member]
Cash And Cash Equivalents [Line Items]
Short term deposits, Interest rate	0.58%
Principal	$ 1,500
Interest accrued to date	8
Short-term deposits, classified as cash equivalents	$ 1,508
Short term deposit Twenty Nine [Member]
Cash And Cash Equivalents [Line Items]
Short term deposits, Interest rate	0.38%
Principal	$ 1,500
Interest accrued to date	3
Short-term deposits, classified as cash equivalents	$ 1,503
Short term deposit Thirty [Member]
Cash And Cash Equivalents [Line Items]
Short term deposits, Interest rate	0.87%
Principal	$ 1,000
Interest accrued to date	1
Short-term deposits, classified as cash equivalents	1,001
Short Term Deposits Classified As Cash Equivalents [Member]
Cash And Cash Equivalents [Line Items]
Principal	1,091,838	237,550
Interest accrued to date	7,603	105
Short-term deposits, classified as cash equivalents	$ 1,099,441	$ 237,655

Provisions and other non-financial liabilities - Changes in Provisions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of Provisions and other non-financial liabilities [Line Items]
Total provisions, initial balance	$ 378,704	$ 166,783	$ 145,255
Changes
Additional provisions	3,056,824	287,568	154,581
Provision used	(2,060,321)	(65,358)	(127,624)
Increase(decrease) in foreign currency exchange	(32)	(72)	(2,482)
Others	(13,976)	(10,217)	(2,947)
Total Increase (decreases)	982,495	211,921	21,528
Total	1,361,199	378,704	166,783
Legal complaints
Disclosure of Provisions and other non-financial liabilities [Line Items]
Total provisions, initial balance	49,741	10,165	14,924
Changes
Additional provisions	3,981	48,012	62,922
Provision used		(8,399)	(67,685)
Increase(decrease) in foreign currency exchange	(1)	(37)	4
Others	(12)
Total Increase (decreases)	3,968	39,576	(4,759)
Total	53,709	49,741	10,165
Provision for dismantling, restoration and rehabilitation cost
Disclosure of Provisions and other non-financial liabilities [Line Items]
Total provisions, initial balance	58,592	61,265	33,238
Changes
Additional provisions	7,085	7,302	30,974
Increase(decrease) in foreign currency exchange	(35)
Others	(11,647)	(9,975)	(2,947)
Total Increase (decreases)	(4,597)	(2,673)	28,027
Total	53,995	58,592	61,265
Other provisions
Disclosure of Provisions and other non-financial liabilities [Line Items]
Total provisions, initial balance	270,371	95,353	97,093
Changes
Additional provisions	3,045,758	232,254	60,685
Provision used	(2,060,321)	(56,959)	(59,939)
Increase(decrease) in foreign currency exchange	4	(35)	(2,486)
Others	(2,317)	(242)
Total Increase (decreases)	983,124	175,018	(1,740)
Total	$ 1,253,495	$ 270,371	$ 95,353

Significant accounting policies - Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Basic Earnings per Share
Profit attributable to the owners of the parent, basic	$ 3,906,311	$ 585,454	$ 164,518
Weighted average number of shares, basic	285,638,456	278,157,812	263,196,524
Basic earnings per share (US$ per share)	$ 13.6757	$ 2.1048	$ 0.6251
Diluted Earnings per Share
Profit attributable to the owners of the parent, diluted	$ 3,906,311	$ 585,454	$ 164,518
Weighted average number of shares, diluted	285,638,456	278,157,812	263,196,524
Diluted earnings per share (US$ per share)	$ 13.6757	$ 2.1048	$ 0.6251
Series A Common Shares
Basic Earnings per Share
Weighted average number of shares, basic	142,819,552	142,819,552	142,819,552
Series B Common Shares
Basic Earnings per Share
Weighted average number of shares, basic	142,818,904	135,338,260	120,376,972

Gains (losses) from operating activities in the statement of income of expenses, included according to their nature - Other Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement [Line Items]
Amounts recovered from insurance		$ 210
Total	$ 9,854	19,552	$ 26,893
Other Incomes
Statement [Line Items]
Discounts obtained from suppliers	1,404	896	665
Fines charged to suppliers	593	83	267
Taxes recovered	1,646	1,811	1,487
Amounts recovered from insurance	86	293	14,861
Overestimate of provisions for third-party obligations	365	287	118
Sale of assets classified as properties, plant and equipment	246	311	1,626
Sale of mining rights	1,126	8,796	5,852
Easements, pipelines and roads	2,106	4,949	1,619
Refunds for mining patents and notarial expenses	20	198	85
Others	$ 2,262	$ 1,928	$ 313

Financial instruments - Trade and Other Receivables (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Financial instruments [Line Items]
Trade and other current receivables	$ 1,087,420	$ 654,073
Non-current trade receivables	2,091	6,172
Trade and other non-current receivables	2,091	6,172
Trade and other receivables	1,089,511	660,245
Trade and other receivables
Financial instruments [Line Items]
Current trade receivables	1,002,223	590,312
Current prepayments	38,709	49,168
Other current receivables	16,648	14,210
Guarantee deposits, current	29,840	383
Non-current trade receivables	0	0
Non-current prepayments	0	0
Other non-current receivables	2,091	6,172
Guarantee deposits, noncurrent	0	0
Trade receivables	1,002,223	590,312
Prepayments	38,709	49,168
Other Receivables	18,739	20,382
Guarantee deposits	$ 29,840	$ 383

Disclosures on equity

12 Months Ended

Dec. 31, 2022

Disclosures on equity

Disclosures on equity

Note 19 Disclosures on equity

The detail and movements in the funds of equity accounts are shown in the consolidated statement of changes in equity.

19.1Capital management

The main object of capital management relative to the administration of the Company’s financial debt and equity is to ensure the regular conduct of operations and business continuity in the long term, with the constant intention of maintaining an adequate level of liquidity and in compliance with the financial safeguards established in the debt contracts in force. Within this framework, decisions are made in order to maximize the value of the company.

Capital management must comply with, among others, the limits contemplated in the Financing Policy approved by the Shareholders’ Meeting, which establish a maximum consolidated indebtedness level of 1.5 times the debt to equity ratio. This limit can be exceeded only if the Company’s management has first obtained express approval at an Extraordinary Shareholders’ Meeting.

The Company’s management controls capital management based on the following ratios:


	As of December 31,		As of December 31,
Capital Management	2022		2021		Description (1)	Calculation (1)
Net Financial Debt (ThUS$)	(721,980)		204,692		Financial Debt – Financial Resources	Other current Financial Liabilities + Other Non-Current Financial Liabilities– Cash and Cash Equivalents – Other Current Financial Assets – Hedging Assets, non-current
Liquidity	2.29		4.62		Current Assets divided by Current Liabilities	Total Current Assets / Total Current Liabilities
ROE	79.37	%	18.41	%	Profit for the year divided by Total Equity	Profit for the year / Equity
Adjusted EBITDA (ThUS$)	5,838,439		1,185,453		Adjusted EBITDA	EBITDA – Other income – Other gains (losses) - Share of Profit of associates and joint ventures accounted for using the equity method + Other expenses by function + Net impairment gains on reversal (losses) of financial assets – Finance income – Currency differences.
EBITDA (ThUS$)	5,817,605		1,140,086		EBITDA	Profit (loss) + Depreciation and Amortization Expense adjustments + Finance Costs + Income Tax
ROA	78.61	%	21.29	%	Adjusted EBITDA – Depreciation divided by Total Assets net of financial resources less related parties’ investments	(Gross Profit – Administrative Expenses)/ (Total Assets – Cash and Cash Equivalents – Other Current Financial Assets – Other Non-Current Financial Assets – Equity accounted Investments) (LTM)
Indebtedness	(0.15)		0.06		Net Financial Debt on Equity	Net Financial Debt / Total Equity

The Company’s capital requirements change according to variables such as: working capital needs, new investment financing and dividends, among others. The SQM Group manages its capital structure and makes adjustments bases on the predominant economic conditions so as to mitigate the risks associated with adverse market conditions and take advantage of the opportunities there may be to improve the liquidity position of the SQM Group.

There have been no changes in the capital management objectives or policy within the years reported in this document, no breaches of external requirements of capital imposed have been recorded. There are no contractual capital investment commitments.

19.2Operational restrictions and financial limits

Bond issuance contracts in the local market require the Company to maintain a Total Borrowing Ratio no higher than 1 for Series H, Series O and Series Q bonds, calculated over the last consecutive 12 months.

Capital management must ensure that the Borrowing Ratio remains below 1.0, with respect to the Series H, Series O and Series Q bonds. This ratio was redefined at the Bondholders’ Meeting held in September 2020, as the result of dividing Net Financial Debt by the company’s Total Equity. Previously it had been defined as Total Liabilities divided by Equity, and the limit for this ratio was 1.44, with a prepayment option for bondholders if this ratio rose above 1.2. As of December 31, 2022 and 2021 this ratio was (0.15).

The financial restrictions with respect to the bonds issued by the Company for the periods ended December 31, 2022 and 2021 are as follows.


	Financial restrictions (member)
	Financial	Financial	Financial	Financial
	restrictions	restrictions	restrictions	restrictions
As of December 31, 2022	(member)	(member)	(member)	(member)
Instrument with restriction	Bonds	Bonds	Bonds	Bank loans
Reporting party or subsidiary restriction
Creditor	Bondholders	Bondholders	Bondholders	Scotiabank
Registration number	H	Q	O	PB 70M
Name of financial indicator or ratio (See definition in Note 20.1)	NFD/Equity	NFD/Equity	NFD/Equity	NFD/Equity
Measurement frequency	Quarterly	Quarterly	Quarterly	Quarterly
Restriction (Range, value and unit of measure)	Must be less than 1.00	Must be less than 1.00	Must be less than 1.00	Must be less than 1.00
Indicator or ratio determined by the company	-0.15	-0.15	-0.15	-0.15
Fulfilled YES/NO	yes	yes	yes	yes


	Financial restrictions (member)
	Financial	Financial	Financial	Financial
	restrictions	restrictions	restrictions	restrictions
As of December 31, 2021	(member)	(member)	(member)	(member)
Instrument with restriction	Bonds	Bonds	Bonds	Bank loans
Reporting party or subsidiary restriction
Creditor	Bondholders	Bondholders	Bondholders	Scotiabank
Registration number	H	Q	O	PB 70M
Name of financial indicator or ratio (See definition in Note 20.1)	NFD/Equity	NFD/Equity	NFD/Equity	NFD/Equity
Measurement frequency	Quarterly	Quarterly	Quarterly	Quarterly
Restriction (Range, value and unit of measure)	Must be less than 1.00	Must be less than 1.00	Must be less than 1.00	Must be less than 1.00
Indicator or ratio determined by the company	0.06	0.06	0.06	0.06
Fulfilled YES/NO	yes	yes	yes	yes

Bond issuance contracts in foreign markets require that the Company does not merge, or dispose of, or encumber all or a significant portion of its assets, unless all of the following conditions are met: (i) the legal successor is an entity constituted under the laws of Chile or the United States, which assumes all the obligations of the Company in a supplemental indenture, (ii) immediately after the merger or disposal or encumbrance there is no default by the issuer, and (iii) the issuer has provided a legal opinion indicating that the merger or disposal or encumbrance and the supplemental indenture comply with the requirements of the original indenture.

The Company is also committed to provide quarterly financial information.

The Company and its subsidiaries are complying with all the aforementioned limitations, restrictions and obligations.

19.3Disclosures on share capital

Issued share capital is divided into Series A shares and Series B shares. All such shares are nominative, have no par value and are fully issued, subscribed and paid.

Series B shares may not exceed 50% of the total issued, subscribed and paid-in shares of the Company and have a limited voting right, in that all of them can only elect one director of the Company, regardless of their equity interest and preferences:

(a)	require the calling of an Ordinary or Extraordinary Shareholders’ Meeting when so requested by Series B shareholders representing at least 5% of the issued shares thereof; and

(b)	require the calling of an extraordinary meeting of the board of directors, without the president being able to qualify the need for such a request, when so requested by the director who has been elected by the shareholders of said Series B.

The limitation and preferences of Series B shares have a duration of 50 consecutive and continuous years as of June 3, 1993.

The Series A shares have the preference of being able to exclude the director elected by the Series B shareholders in the voting process in which the president of the board of directors and of the Company must be elected and which follows the one in which the tie that allows such exclusion resulted.

The preference of the Series A shares will have a term of 50 consecutive and continuous years as of June 3, 1993. The form of the titles of the shares, their issuance, exchange, disablement, loss, replacement, assignment and other circumstances thereof shall be governed by the provisions of Law No, 18,046 and its regulations.

At December 31, 2022, the Group hold 648 Series A shares treasury shares.

Detail of capital classes in shares:

As of December 31, 2022, the Company has placed share issues in the market as described in note 1.6:


	As of December 31, 2022		As of December 31, 2021		As of December 31, 2020
Type of capital in preferred shares	Series A	Series B	Series A	Series B	Series A	Series B
Description of type of capital in shares
Number of authorized shares	142,819,552	142,818,904	142,819,552	142,818,904	142,819,552	120,376,972
Number of fully subscribed and paid shares	142,819,552	142,818,904	142,819,552	142,818,904	142,819,552	120,376,972
Number of subscribed, partially paid shares	—	—	—	—	—	—
Increase (decrease) in the number of current shares	—	—	—	—	—	—
Number of outstanding shares	142,818,904	142,818,904	142,818,904	142,818,904	142,819,552	120,376,972
Number of shares owned by the Company or its subsidiaries or associates	648	—	648	—	—	—
Number of shares whose issuance is reserved due to the existence of options or agreements to dispose shares	—	—	—	—	—	—
Capital amount in shares ThUS$	134,750	1,442,893	134,750	1,442,893	134,750	342,636
Total number of subscribed shares	142,819,552	142,818,904	142,819,552	142,818,904	142,819,552	120,376,972

19.4Disclosures on reserves in Equity and non-controlling interests

As of December 31, 2022, 2021 and 2020, this caption comprises the following:


	As of	As of	As of
	December 31,	December 31,	December 31,
Disclosures on reserves in equity	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Reserve for currency exchange conversion (1)	(8,042)	(7,913)	(11,569)
Reserve for cash flow hedges (2)	(14,575)	(34,025)	4,491
Reserve for gains and losses from financial assets measured at fair value through other comprehensive income (3)	(10,973)	(11,146)	6,872
Reserve for actuarial gains or losses in defined benefit plans (4)	(9,198)	(4,174)	(8,680)
Other reserves	11,663	13,103	16,318
Total	(31,125)	(44,155)	7,432

(1)	This balance reflects retained earnings for changes in the exchange rate when converting the financial statements of subsidiaries whose functional currency is different from the US dollar.

(2)	The Company maintains, as hedge instruments, financial derivatives related to obligations with the public issued in UF and Chilean pesos, Changes from the fair value of derivatives designated and classified as hedges are recognized under this classification.

(3)

(4)	This caption reflects the effects of changes in actuarial assumptions, mainly changes in the discount rate.

Movements in other reserves and changes in interest were as follows:


	Foreign					Reserve for gains (losses)
	currency					from financial assets
	translation			Reserve for actuarial gains		measured at fair value
	difference	Reserve for cash flow		and losses from defined		through other		Other
	(1)	hedges		benefit plans		comprehensive income		reserves	Total reserves
	Before	Before		Before	Deferred	Before	Deferred	Before		Deferred	Total
Movements	taxes	taxes	Tax	taxes	taxes	Taxes	taxes	taxes	Reserves	taxes	reserves
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
Opening balance as of January 1, 2020	(25,745)	9,879	(2,683)	(11,482)	1,992	392	(662)	14,086	(12,870)	(1,353)	(14,223)
Movement of reserves	(404)	(461)	1,001	955	(145)	9,784	(2,642)	2,537	9,166	(1,786)	7,380
Reclassification adjustments	14,580	(3,245)	—	—	—	—	—	(305)	14,275	—	14,275
Closing balance as of December 31, 2020	(11,569)	6,173	(1,682)	(10,527)	1,847	10,176	(3,304)	16,318	10,571	(3,139)	7,432
Movement of reserves	4,046	(66,051)	14,246	4,648	(142)	(12,072)	3,818	134	(56,006)	17,922	(38,084)
Reclassification adjustments	(390)	13,289	—	—	—	—	—	(3,349)	(3,739)	—	(3,739)
Reclassification to retained earnings	—	—	—	—	—	(13,375)	3,611	—	(13,375)	3,611	(9,764)
Closing balance as of December 31, 2021	(7,913)	(46,589)	12,564	(5,879)	1,705	(15,271)	4,125	13,103	(62,549)	18,394	(44,155)
Movement of reserves	(129)	36,079	(7,172)	(6,276)	1,252	190	(17)	(985)	28,879	(5,937)	22,942
Reclassification adjustments	—	(9,457)	—	—	—	—	—	(455)	(9,912)	—	(9,912)
Reclassification to retained earnings	—	—	—	—	—	—	—	—	—	—	—
Closing balance as of December 31, 2022	(8,042)	(19,967)	5,392	(12,155)	2,957	(15,081)	4,108	11,663	(43,582)	12,457	(31,125)

(1)	See details on reserves for foreign currency translation differences on conversion in Note 23, letter b).

Other reserves

This caption corresponds to the legal reserves reported in the stand-alone financial statements of the subsidiaries and associates that are mentioned below and that have been recognized in SQM’s equity through the application of the equity method.


	As of	As of	As of
	December 31,	December 31,	December 31,
Subsidiary – Associate	2022	2021	2020
	ThUS$	ThUS$	ThUS$
SQM Iberian S.A.	9,464	9,464	9,464
SQM Europe NV	1,957	1,957	1,957
Soquimich European holding B.V.	828	828	828
Abu Dhabi Fertilizer Industries WWL	—	455	455
Kore Potash PLC	—	—	3,414
Soquimich Comercial S.A.	(401)	—	—
SQM Vitas Fzco.	85	(38)	(244)
Pavoni & C. Spa	7	7	—
SQM Iberian S.A.	(1,677)	(1,677)	(1,677)
Orcoma Estudios SPA	2,121	2,121	2,121
SQM Industrial S.A.	—	707	—
Others	(721)	(721)	—
Total Other reserves	11,663	13,103	16,318

Non-controlling interests


	% of interests in the	Profit (loss) attributable to non-controlling interests for the year ended		Equity, non-controlling interests for the year ended		Dividends paid to non-controlling interests for the year ended
	ownership held by non-	As of	As of	As of	As of	As of	As of
Subsidiary	controlling interests	December 31, 2022	December 31, 2021	December 31, 2022	December 31, 2021	December 31, 2022	December 31, 2021
		ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
SQM Potasio S.A.	0.0000001%	—	—	—	—	—	—
Ajay SQM Chile S.A.	4900000%	2,415	769	8,986	8,382	1,812	577
Soquimich Comercial S.A.	3936168%	5,558	5,926	26,383	26,665	5,558	11,831
Comercial Agrorama Ltda.	3000000%	—	56	—	(596)	—	—
SQM Indonesia S.A.	2000000%	—	—	—	—	—	—
SQM Thailand Limited	0.00200%	—	—	—	—	—	—
Total		7,973	6,751	35,369	34,451	7,370	12,408

19.5Dividend policies

As required by Article 79 of the Chilean Companies Act, unless otherwise decided by unanimous vote of the holders of issued and subscribed shares, a publicly traded corporation must annually distribute a cash dividend to its shareholders, prorated based on their shares or the proportion established in the company’s bylaws if there are preferred shares, with at least 30% of our consolidated profit for each year.

Dividend policy for commercial year 2022

Company’s dividend policy for the 2022 business year was agreed upon by the Board of Directors on April 26, 2022. On that occasion, the following was decided:

(a)

Distribute and pay to the corresponding shareholders, a percentage of the net income that shall be determined per the following financial parameters as a final dividend:

(i)

100% of the profit for 2022 if all the following financial parameters are met: (a) “all current assets” divided by “all current liabilities” is equal to or greater than 2.5 times, and (b) the sum of “all current liabilities” and “all non-current liabilities”, less “cash equivalents”, less “other current financial assets”, all of the above divided by “total equity” in equal or less than 0.8 times.

(ii)

80% of the profit for 2022 if all the following financial parameters are met: (a) “all current assets” divided by “all current liabilities” is equal to or greater than 2.0 times, and (b) the sum of “all current liabilities” and “all non-current liabilities”, less “cash equivalents”, less “other current financial assets”, all of the above divided by “total equity” in equal or less than 0.9 times.

(iii)

60% of the profit for 2022 if all the following financial parameters are met: (a) “all current assets” divided by “all current liabilities” is equal to or greater than 1.5 times, and (b) the sum of “all current liabilities” and “all non-current liabilities”, less “cash equivalents”, less “other current financial assets”, all of the above divided by “total equity” in equal or less than 1.0 times.

(iv)

If none of the foregoing financial parameters are met, the Company shall distribute and pay, as a final dividend, and in favor of the respective shareholders, 50% of the 2022 net income.

(b)

Distribute and pay in 2022 interim dividends, which will be charged to the aforementioned final dividend.

(c)

The amount of the provisional dividends may be higher or lower, provided that, based on the information available to the Board of Directors on the date when their distribution is agreed to, this will not have a negative or material effect on the Company's ability to carry out its investments, meet its obligations, and in general to comply with the investment and financing policy approved by the Ordinary Shareholders’ Meeting.

(d)

At the ordinary meeting to be held in 2023, the Company's Board of Directors will propose a final dividend in line with the percentage corresponding to the financial parameters outlined in (a) above, discounting the provisional dividends previously distributed in 2022.

(e)

Any remaining amount from the net profits from 2022 can be retained and used to finance the Company’s own operations or one or more of its investment projects, notwithstanding a possible distribution of dividends charged to accumulated profit that might be approved by the shareholders’ meeting or the possible future capitalization of all or part of it.

(f)

The payment of additional dividends is not being considered.

It must be expressly stated that this dividends policy details the intention of the Company’s Board of Directors and its fulfillment depends on the actual profits obtained, as well as on the results indicated by the projections the Company makes from time to time or on the existence of particular conditions, as appropriate. In any case, if the dividend policy set forth by the Board of Directors should undergo any substantial change, the Company must communicate it as a material event.

19.6Interim and provisional dividends

On April 26, 2022, the Board of Directors agreed to pay a final dividend equivalent to US$ 0.09691 per share which the Company must pay to reach the amount of US$2.04964 for the final dividend as per the Policy. This final dividend already considers the first interim dividend of US$ 0.23797 per share, the second interim dividend of US$ 0.31439 per share, and the eventual dividend of US$ 1.40037 per share that were paid in 2021.

On May 18, 2022, the Board agreed to pay an interim dividend equal to US$ 2.78716 per share against the company’s 2022 profits. This quantity will be paid in its Chilean peso equivalent at the Observed US Dollar rate published in the Official Gazette on June 6, 2022.

On August 17, 2022, the Board agreed to pay an interim divided equal to US$ 1.84914 per share, charged against the Company’s profits from 2022. That amount will be paid in its Chilean peso equivalent at the Observed US Dollar rate published in the Official Gazette on October 3, 2022

On November 21, 2022, the Board of Directors agreed to pay an interim dividend equivalent to US$ 3.08056 per share charged to the Company's 2022 fiscal year profits. This amount will be paid in pesos, the national currency based on the observed US dollar value published in the Official Gazette on December 12, 2022.

19.7Potential and provisional dividends

Dividends discounted from equity from January to December 2022 and 2021 were the following:


	As of	As of	As of
	December 31,	December 31,	December 31,
Dividends	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Interim dividend	2,204,229	157,774	44,986
Special dividend	—	399,998	100,000
Dividends payable	—	27,681	4,369
Owners of the Parent	2,204,229	585,453	149,355
Special dividend	—	5,904	5,904
Dividends according to policy	7,369	6,504	4,214
Non-controlling interests	7,369	12,408	10,118
Dividends discounted from equity for the period	2,211,598	597,861	159,473

Separate information on the main office, parent entity and joint action agreements (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Separate information on the main office, parent entity and joint action agreements [Line Items]
Assets	$ 10,819,101	$ 7,180,201	$ 4,818,463
Liabilities	(5,887,100)	(3,964,230)	(2,655,885)
Total equity	4,932,001	3,215,971	$ 2,162,578	$ 2,134,472
Parent
Separate information on the main office, parent entity and joint action agreements [Line Items]
Assets	8,430,376	5,988,757
Liabilities	(3,533,744)	(2,807,237)
Total equity	$ 4,896,632	$ 3,181,520

- Definition

The amount of residual interest in the assets of the entity after deducting all its liabilities.

+ References + Details

Cover Page	12 Months Ended
Cover Page	Dec. 31, 2022 shares
Document Information [Line Items]
Document Type	20-F/A
Amendment Flag	true
Amendment Description	Sociedad Química y Minera de Chile S.A. (“SQM” or the “Company”) is filing this Amendment No. 1 (“Amendment No. 1”) to its Annual Report on Form 20-F for the fiscal year ended December 31, 2022, as filed with the U.S. Securities and Exchange Commission (the “SEC”) on April 26, 2023 (the “Original Form 20-F”), to amend the following items of the Original Form 20-F:
Document Period End Date	Dec. 31, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Entity Registrant Name	CHEMICAL & MINING CO OF CHILE INC
Entity Central Index Key	0000909037
Current Fiscal Year End Date	--12-31
Entity File Number	33-65728
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Trading Symbol	SQM
Entity Shell Company	false
Title of 12(b) Security	Series B common shares, in the form of American Depositary Shares each representing one Series B share
Security Exchange Name	NYSE
Document Registration Statement	false
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
ICFR Auditor Attestation Flag	true
Document Accounting Standard	International Financial Reporting Standards
Entity Incorporation, State or Country Code	F3
Entity Address, Address Line One	El Trovador 4285
Entity Address, Address Line Two	6th floor
Entity Address, City or Town	Santiago
Entity Address, Country	CL
Entity Address, Postal Zip Code	755000
Auditor Name	PricewaterhouseCoopers Consultores Auditores y Compañía Limitada
Auditor Firm ID	1364
Auditor Location	Santiago, Chile
Series A Common Shares
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	142,819,552
Series B Common Shares
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	142,818,904
Business Contact [Member]
Document Information [Line Items]
Entity Address, Address Line One	El Trovador 4285
Entity Address, Address Line Two	6th floor
Entity Address, City or Town	Santiago
Entity Address, Country	CL
Entity Address, Postal Zip Code	755000
City Area Code	56
Local Phone Number	2 2425-2485
Contact Personnel Name	Gerardo Illanes
Contact Personnel Email Address	gerardo.illanes@sqm.com

Gains (losses) from operating activities in the statement of income of expenses, included according to their nature - Finance Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Gains (losses) from operating activities in the statement of income of expenses, included according to their nature
Interest expense from bank borrowings and overdrafts	$ (3,065)	$ (2,664)	$ (2,797)
Interest expense from bonds	(108,387)	(90,859)	(87,030)
Interest expense from loans	(2,098)	(1,135)	(1,598)
Reversal of capitalized interest expenses	24,708	14,206	8,462
Financial expenses for restoration and rehabilitation provisions	9,357	(1,259)	2,947
Interest on lease agreement	(1,226)	(1,587)	(1,133)
Interest and bank charges	(5,940)	(1,328)	(1,050)
Total	$ (86,651)	$ (84,626)	$ (82,199)

Joint Ventures - Investments Accounted for Under Equity Method of Accounting (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement [Line Items]
Investments accounted for using equity method	$ 54,386	$ 39,824	$ 85,993
Sichuan SQM Migao Chemical Fertilizers Co Ltd.
Statement [Line Items]
Investments accounted for using equity method	0	0	9,028
Share in profit (loss) of joint ventures accounted for using the equity method	0	0	(280)
Share on other comprehensive income joint ventures accounted for using the equity method	0	0	0
Share on total comprehensive income of joint ventures accounted for using the equity method	0	0	(280)
Coromandel SQM India
Statement [Line Items]
Share on other comprehensive income joint ventures accounted for using the equity method	0	0	0
Share on total comprehensive income of joint ventures accounted for using the equity method	0	0
SQM Vitas Fzco.
Statement [Line Items]
Investments accounted for using equity method	20,793	8,682	9,720
Share in profit (loss) of joint ventures accounted for using the equity method	8,208	6,304	2,010
Share on other comprehensive income joint ventures accounted for using the equity method	674	429	(1,469)
Share on total comprehensive income of joint ventures accounted for using the equity method	8,882	6,733	541
SQM Qinqdao Star Corp Nutrition Co. Ltd.
Statement [Line Items]
Investments accounted for using equity method	0	0
Share in profit (loss) of joint ventures accounted for using the equity method	0	0	83
Share on other comprehensive income joint ventures accounted for using the equity method	0	0	0
Share on total comprehensive income of joint ventures accounted for using the equity method	0	0	83
SQM Vitas Brasil Agroindustria
Statement [Line Items]
Investments accounted for using equity method	14,667	0	3,511
Share in profit (loss) of joint ventures accounted for using the equity method	5,834	4,582	1,018
Share on other comprehensive income joint ventures accounted for using the equity method	551	(429)	(1,469)
Share on total comprehensive income of joint ventures accounted for using the equity method	6,385	4,153	(451)
SQM Vitas Peru S.A.C.
Statement [Line Items]
Investments accounted for using equity method	1,340	4,681	1,659
Share in profit (loss) of joint ventures accounted for using the equity method	2,293	1,645	660
Share on other comprehensive income joint ventures accounted for using the equity method	0	0
Share on total comprehensive income of joint ventures accounted for using the equity method	2,293	1,645	660
SQM Vitas B.V.
Statement [Line Items]
Share on other comprehensive income joint ventures accounted for using the equity method	0	0	0
Share on total comprehensive income of joint ventures accounted for using the equity method	0	0
Joint ventures
Statement [Line Items]
Investments accounted for using equity method	16,007	4,681	5,170
Share in profit (loss) of joint ventures accounted for using the equity method	8,127	6,227	1,678
Share on other comprehensive income joint ventures accounted for using the equity method	551	(429)	(1,469)
Share on total comprehensive income of joint ventures accounted for using the equity method	8,678	5,798	209
Pavoni & C. Spa
Statement [Line Items]
Investments accounted for using equity method	7,315	7,030	7,222
Share in profit (loss) of joint ventures accounted for using the equity method	470	174	9
Share on other comprehensive income joint ventures accounted for using the equity method	(210)	(317)	349
Share on total comprehensive income of joint ventures accounted for using the equity method	260	(143)	358
Covalent Lithium Pty Ltd.
Statement [Line Items]
Investments accounted for using equity method	0	0
Share in profit (loss) of joint ventures accounted for using the equity method	0	0	0
Share on other comprehensive income joint ventures accounted for using the equity method	90	37	16
Share on total comprehensive income of joint ventures accounted for using the equity method	90	37	16
Joint Venture Total [Member]
Statement [Line Items]
Investments accounted for using equity method	28,108	15,712	25,970
Share in profit (loss) of joint ventures accounted for using the equity method	8,678	6,478	1,822
Share on other comprehensive income joint ventures accounted for using the equity method	554	149	(1,104)
Share on total comprehensive income of joint ventures accounted for using the equity method	$ 9,232	$ 6,627	$ 718

Consolidated Statements of Income - USD ($) $ in Thousands	12 Months Ended
Consolidated Statements of Income - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Consolidated Statements of Income
Revenue	$ 10,710,578	$ 2,862,315	$ 1,817,191
Cost of sales	(4,973,953)	(1,772,208)	(1,334,321)
Gross profit	5,736,625	1,090,107	482,870
Other income	9,854	19,552	26,893
Administrative expenses	(142,644)	(118,893)	(107,017)
Other expenses	(75,971)	(60,605)	(99,612)
(Impairment) /reversal of losses of financial assets (See Note 12.2)	3,369	(235)	4,684
Other gains (losses)	117	(2,638)	(5,313)
Profit from operating activities	5,531,350	927,288	302,505
Finance income	47,038	4,668	13,715
Finance costs	(86,651)	(84,626)	(82,199)
Share of profit of associates and joint ventures accounted for using the equity method	20,159	11,132	8,940
Foreign currency translation differences	(25,400)	(17,241)	(4,423)
Profit before taxes	5,486,496	841,221	238,538
Income tax expense	(1,572,212)	(249,016)	(70,179)
Net profit	3,914,284	592,205	168,359
Profit attributable to:
Profit attributable to Owners of the Parent	3,906,311	585,454	164,518
Profit attributable to Non-controlling interests	7,973	6,751	3,841
Net profit	$ 3,914,284	$ 592,205	$ 168,359
Earnings per share
Basic earnings per share (US$ per share)	$ 13.6757	$ 2.1048	$ 0.6251
Diluted earnings per share (US$ per share)	$ 13.6757	$ 2.1048	$ 0.6251

Inventories - Movements in Inventory Provisions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Inventories
Beginning balance	$ 75,892	$ 80,930	$ 88,174
Increase in Lower Value	29,693	(3,650)	(5,404)
Additional Provision Differences of Inventory	(161)	330	(704)
Increase / Decrease eventual differences and others			1,244
Provision Used	(1,367)	(1,718)	(2,380)
Total changes	28,165	(5,038)	(7,244)
Final balance	$ 104,057	$ 75,892	$ 80,930

Income tax and deferred taxes - Deferred Tax Assets and Liabilities in the Statement of Financial Position (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income tax and deferred taxes
Deferred tax assets	$ 604,471	$ 135,904
Deferred tax liabilities	(289,825)	(246,320)
Total	$ 314,646	$ (110,416)	$ (156,101)

Financial instruments - Current and Non-Current Bank Borrowings (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Financial instruments [Abstract]
Total loans	$ 4,322,140	$ 4,084,690

Significant accounting policies (Policies)

12 Months Ended

Dec. 31, 2022

Significant accounting policies

Classification of balances as current and non-current

3.1	Classification of balances as current and non-current

The exception to the foregoing relates to deferred taxes, which are classified as non-current, regardless of the maturity they have.

Functional and presentation currency

3.2	Functional and presentation currency

Accounting policy for foreign currency translation

3.3	Accounting policy for foreign currency translation

(a)	SQM group entities:

The revenue, expenses, assets and liabilities of all entities that have a functional currency other than the presentation currency are converted to the presentation currency as follows:

-	Assets and liabilities are converted at the closing exchange rate prevailing on the reporting date.

-	Revenues and expenses of each profit or loss account are converted at monthly average exchange rates.

-	All resulting foreign currency translation gains and losses are recognized as a separate component in translation reserves.

The main exchange rates and UF used to translate monetary assets and liabilities, expressed in foreign currency at the end and average of each period in respect to U.S. dollars, are as follows:



	Closing exchange rates		Average exchange rates
	As of	As of	As of	As of
	December 31,	December 31,	December 31,	December 31,
Currencies	2022	2021	2022	2021
	ThUS$	ThUS$	ThUS$	ThUS$
Brazilian real	5.28	5.57	5.25	5.66
New Peruvian sol	3.81	3.99	3.83	4.04
Japanese yen	131.32	115.18	134.70	113.87
Euro	0.93	0.88	0.94	0.88
Mexican peso	19.50	20.54	19.60	20.90
Australian dollar	1.47	1.38	1.48	1.40
Pound Sterling	0.83	0.74	0.82	0.75
South African rand	17.01	15.94	17.28	15.88
Chilean peso	855.86	844.69	873.81	849.46
Chinese yuan	6.92	6.38	6.98	6.37
Indian rupee	82.73	74.42	82.52	75.40
Thai Baht	34.64	33.32	34.76	33.55
Turkish lira	18.71	13.28	18.66	13.54
Korean Won	1,259.98	1,188.79	1,291.64	1,183.95
Indonesian Rupiah	15,570.00	14,265.00	15,596.90	14,320.57
United Arab Emirates dirham	3.67	3.67	3.67	3.67
Polish Zloty	4.37	4.06	4.42	4.08
UF (*)	41.02	36.69	40.18	36.48

(*)	US$ per UF

(b)	Transactions and balances

Consolidated statement of cash flows

3.4Consolidated statement of cash flows

For the purposes of the statement of cash flows, cash and cash equivalents comprise cash and cash equivalents as defined above.

The statement of cash flows present cash transactions performed during the period, determined using the direct method.

Financial assets

3.5Financial assets

After initial recognition, the Company measures its financial assets according to the Company’s business model for managing its financial assets and the contractual terms of its cash flows:

(a)

(b)	Financial instruments at fair value. A financial asset should be measured at fair value through profit or loss or fair value through other comprehensive income, depending on the following:

(i)

(ii)

"Fair Value Through Profit and Loss": Assets that do not meet the amortized cost or "Fair Value Through Other Comprehensive Income" criteria are valued at "Fair Value Through Profit and Loss".

(c)

Financial assets impairment

3.6Financial assets impairment

Financial liabilities

3.7Financial liabilities

Management accounts for its financial liabilities at amortized cost.

Financial liabilities measured at amortized cost are commercial accounts payable and other accounts payable and other financial liabilities.

Estimated fair value of financial instruments

3.8Estimated fair value of financial instruments

Methodologies and assumptions used depend on the risk terms and characteristics of instruments and include the following as a summary:

Fair value estimation

Estimate of fair value for disclosure purposes

●

Cash equivalent approximates fair value due to the short-term maturities of these instruments.

●

The fair value of current trade receivables is considered to be equal to the carrying amount due to the maturity of such accounts at short-term.

●

Payables, current lease liabilities and other current financial liabilities are considered fair value equal to book value due to the short-term maturity of these accounts.

●

Reclassification of financial instruments

3.9Reclassification of financial instruments

Financial instruments derecognition

3.10Financial instruments derecognition

Derivative and hedging financial instruments

3.11Derivative and hedging financial instruments

Fair value hedge of assets and liabilities recognized (fair value hedges).

Hedging of a single risk associated with a recognized asset or liability or a highly probable forecast transaction (cash flow hedge).

The fair value of derivative instruments used for hedging purposes is shown in Note 12.3.

Fair value hedge

item for which the effective interest method is used is amortized to profit or loss over the period to maturity using a recalculated effective interest rate.

b)Cash flow hedges

Derivative financial instruments not considered as hedges

3.12Derivative financial instruments not considered as hedges

Deferred acquisition cost from insurance contracts

3.13Deferred acquisition cost from insurance contracts

Leases

3.14 Leases

(a)	Right-of-use assets

(b)	Lease liabilities

Payments made that affect lease liabilities are presented as part of the financing activities in the cash flow statement.

(c)	Short-term leases and low-value asset leases

(d)	Significant judgments in the determination of the lease term for contracts with renewal options.

Inventory measurement

3.15Inventory measurement

For finished and in-process products, the company has four types of provisions, which are reviewed quarterly:

(a)

(b)

(c)

(d)

Provisions undertaken by business subsidiaries: these are historical percentages that are adjusted as zero ground is attained based on normal inventory management.

Non-controlling interests

3.16Non-controlling interests

Non-controlling interests are recorded in the consolidated statement of financial position within equity but separate from equity attributable to the owners of the Parent.

Related party transactions

3.17Related party transactions

Property, plant and equipment

3.18Property, plant and equipment

Property, plant and equipment are stated at acquisition cost, net of the related accumulated depreciation, amortization and impairment losses that they might have experienced.

In addition to the price paid for the acquisition of tangible property, plant and equipment, the Company has considered the following concepts as part of the acquisition cost, as applicable:

(a)

(b)

Construction-in-progress is transferred to property, plant and equipment in operation once the assets are available for use and the related depreciation and amortization begins on that date.

Costs derived from the daily maintenance of property, plant and equipment are recognized when incurred.

Depreciation of property, plant and equipment

3.19Depreciation of property, plant and equipment

Fixed assets located in the Salar de Atacama consider useful life to be the lesser value between the technical useful life and the years remaining until 2030.

In the case of certain mobile equipment, depreciation is performed depending on the hours of operation.

The useful lives used for the depreciation and amortization of assets included in property, plant and equipment in years are presented below:


	Minimum life or	Maximum life or	Life or average rate
Classes of property, plant and equipment	rate (years)	rate (years)	in years
Mining assets	3	10	8
Energy generating assets	5	16	10
Buildings	3	25	13
Supplies and accessories	4	10	8
Office equipment	5	10	9
Transport equipment	8	9	9
Network and communication equipment	4	12	8
IT equipment	5	10	8
Machinery, plant and equipment	3	25	10
Other fixed assets	3	15	9

Goodwill

3.20Goodwill

Intangible assets other than goodwill

3.21Intangible assets other than goodwill

(a)	Water rights

Water rights acquired by the Company relate to water from natural sources and are recorded at acquisition cost. The Company separates water rights into:

i)	Finite rights with amortization using the straight-line method, and

ii)	Indefinite rights, which are not amortized, given that these assets represent rights granted in perpetuity to the Company, which are subject to an annual impairment assessment.

(b)	Rights of way for electric lines

(c)	Computer software

Licenses for IT programs acquired are capitalized based on their acquisition and customization costs. These costs are amortized over their estimated useful lives.

The costs of development for IT programs are recognized as assets are amortized over their estimated useful lives.

(d)	Mining property and concession rights

Estimated useful lives or amortization rates used for finite identifiable intangible assets

The estimated useful life for software which they are amortized corresponds to the periods defined by the contracts or rights from which they originate.

Minimum and maximum amortization lives or rates of intangible assets:


	Minimum Life or	Maximum Life or
Estimated useful life or amortization rate	Rate	Rate
Water rights	5 years	Indefinite
Rights of way	Indefinite	Indefinite
Corfo Mining properties (1)	8 years	8 years
Mining rights	Unit-production method
Intellectual property	9 years	9 years
IT programs	3 years	9 years

(1)	Mining properties owned by Corfo and leased to the Company, which grant it the exclusive right to exploit them until December 31, 2030.

Research and development expenses

3.22Research and development expenses

Research and development expenses are charged to profit or loss in the period in which the expenditure was incurred.

Exploration and evaluation expenses

3.23 Exploration and evaluation expenses

The Company holds mining concessions for exploration and exploitation of ore, the Company gives the following treatment to expenses associated with exploration and assessment of these resources:

(a)	Limestone and metallic exploration

(b)	Exploration and evaluation at the Mt. Holland Project

Mount Holland exploration and evaluation expenditure is included in Property, plant and equipment, specifically in Construction in Progress.

Impairment of non-financial assets

3.24Impairment of non-financial assets

Impairment losses from continuing operations are recognized with a debit to profit or loss in the categories of expenses associated with the impaired asset function.

Assets with indefinite lives are assessed for impairment annually.

Minimum dividend

3.25 Minimum dividend

Earnings per share

3.26 Earnings per share


	For the year ended December 31
Earnings per Share	2022	2021	2020
Profit attributable to the owners of the parent (ThUS$)	3,906,311	585,454	164,518
Weighted average number of shares	285,638,456	278,157,812	263,196,524
Basic earnings per share (US$)	13.6757	2.1048	0.6251
Profit attributable to the owners of the parent (ThUS$)	3,906,311	585,454	164,518
Weighted average number of shares	285,638,456	278,157,812	263,196,524
Diluted earnings per share (US$)	13.6757	2.1048	0.6251

Series A common shares	142,819,552	142,819,552	142,819,552
Series B common shares	142,818,904	135,338,260	120,376,972
Total weighted average number of shares	285,638,456	278,157,812	263,196,524

Other provisions

The Company has no instruments that could potentially dilute earnings per share for the three years ended December 31, 2022.

3.27Other provisions

Provisions are recognized when:

●

The Company has a present, legal or constructive obligation as the result of a past event.

●

It is more likely than not that certain resources must be used, to settle the obligation.

●

A reliable estimate can be made of the amount of the obligation.

In the event that the provision or a portion of it is reimbursed, the reimbursement is recognized as a separate asset solely if there is certainty of income.

In the consolidated statement of income, the expense for any provision is presented net of any reimbursement.

responsible. These are recorded at the time the responsibility or the obligation that determines the compensation or payment is generated.

3.28Obligations related to employee termination benefits and pension commitments

Actuarial gains and losses that may be generated by variations in defined, pre-established obligations are directly recorded in “Other Comprehensive Income”.

Actuarial losses and gains have their origin in deviations between the estimate and the actual behavior of actuarial assumptions or in the reformulation of established actuarial assumptions.

Compensation plans

3.29Compensation plans

Revenue recognition

3.30Revenue recognition

Revenues are recognized when the specific conditions for each income stream are met, as follows:

(a)	Sale of goods

(b)	Sale of services

(c)	Income from dividends

Income from dividends is recognized when the right to receive the payment is established.

Finance income and finance costs

3.31Finance income and finance costs

Current income tax and deferred

3.32Current income tax and deferred

Corporate income tax for the year is determined as the sum of current and deferred income taxes from the different consolidated companies.

The recognized deferred tax assets refer to the amount of income tax to recover in future periods, related to:

deductible temporary differences;

compensation for losses obtained in prior periods, which have not yet been subject to tax deduction; and

compensation for unused credits from prior periods.

The recognized deferred tax liabilities refer to the amount of income tax to pay in a future period, related to taxable temporary differences.

(i)

the parent company, investor or shareholder is capable of controlling the moment of the reversal of temporary differences; and

(ii)

it is probable that the temporary difference will not be reversed in the foreseeable future.

(i)

temporary differences are reversed in the foreseeable future; and

(ii)there is taxable profit available against which temporary differences can be used.

Operating segment reporting

3.33Operating segment reporting

Primary accounting criteria, estimates and assumptions

3.34 Primary accounting criteria, estimates and assumptions

●

Assumptions used in calculating the actuarial amount of pension-related and severance indemnity payment benefit commitments (See Note 17).

●

Estimates for obsolescence provisions to ensure that the carrying value of inventory is not in excess of the net realizable inventory valuation. (See Note 10).

Contingencies and restrictions (Details) - USD ($) $ in Thousands										1 Months Ended	12 Months Ended
	Oct. 04, 2022	Sep. 29, 2022	Jan. 27, 2022	Jul. 15, 2021	Jan. 07, 2021	Oct. 31, 2020	Apr. 14, 2020	Mar. 24, 2017	Aug. 26, 2016	Jun. 30, 2022	Dec. 31, 2022	Dec. 31, 2021	Aug. 31, 2004	Aug. 31, 1996
Statement [Line Items]
Lawsuits, domicile of litigation											19th Civil Court of Santiago
Guarantee obligations											$ 717
Environmental loss contingencies component amount						$ 9,000
Mining assets											60,284	$ 38,241
Tax contingencies, estimates possible amount		$ 745,300
Third tax and customs court \| Tax Period 2012 to 2014
Statement [Line Items]
Tax Contingencies, Dispute Amount									$ 17,800
Tax contingencies, contested tax									11,500
Interest and associated fines									$ 6,300
Third tax and customs court \| Tax Period 2015 to 2016
Statement [Line Items]
Tax Contingencies, Dispute Amount								$ 8,600
Tax contingencies, contested tax								6,900
Interest and associated fines								400
Tax contingencies, assessed excess tax amount								$ 1,300
Third tax and customs court \| Tax Period 2017 to 2018
Statement [Line Items]
Tax Contingencies, Dispute Amount				$ 63,900
Tax contingencies, contested tax				30,200
Interest and associated fines				16,100
Tax contingencies, assessed excess tax amount				$ 17,600
General Water Bureau
Statement [Line Items]
Loss Contingency, Damages Awarded, Value							$ 4,180
Ocaa y Vega Limited
Statement [Line Items]
Loss Contingency, Damages Awarded, Value					$ 377
Soquimich Comercial S.A.
Statement [Line Items]
Lawsuits, damages owed value											1,050
SQM Salar
Statement [Line Items]
Loss Contingency, Damages Awarded, Value			$ 48,100
Litigation charges												$ 48,100
SQM Salar \| Tax Period 2019
Statement [Line Items]
Tax Contingencies, Dispute Amount		36,800
Tax contingencies, assessed excess tax amount		$ 9,700
SQM Salar \| Non-current tax assets
Statement [Line Items]
Mining assets											$ 127,100
Lawsuit three
Statement [Line Items]
Lawsuits, name of plaintiff											city of Pomona in the state of California
Lawsuits, name of defendant											SQM NA
Lawsuits, lawsuit filing date											December 2010
Lawsuits, domicile of litigation											US District Court for the Central District of California
Lawsuits, allegations											payment of expenses and other values related to treatment of groundwater to make it apt for consumption, which involved the extraction of perchlorate in this water, which allegedly came from Chilean fertilizers
Lawsuit four
Statement [Line Items]
Lawsuits, name of plaintiff											the city of Lindsay in California, United States
Lawsuits, name of defendant											SQM NA
Lawsuits, lawsuit filing date											December 2010
Lawsuits, domicile of litigation											US District Court for the Central District of California
Lawsuits, allegations											payment of expenses and other values related to treatment of groundwater to make it apt for consumption, which involved the extraction of perchlorate in this water, which allegedly came from Chilean fertilizers
Lawsuit five
Statement [Line Items]
Lawsuits, name of defendant											SQM Nitratos
Lawsuits, lawsuit filing date											May 2014
Lawsuits, domicile of litigation											18th Civil Court of Santiago
Lawsuits, allegations											for its alleged extracontractual liability derived from an explosion occurring in 2010 in the vicinity of the town of Baquedano, which caused the death of six workers
Lawsuits, litigation status											On May 7, 2019, the 18th Civil Court of Santiago dismissed the claim. The case currently is in the Santiago Court of Appeals, which will make a determination on the motion for appeal and cassation brought about on behalf of the plaintiff.
Lawsuits, nominal value											$ 1,200
Lawsuit six
Statement [Line Items]
Lawsuits, name of plaintiff											Transportes Buen Destino S.A.
Lawsuits, name of defendant											SQM Salar
Lawsuits, lawsuit filing date											January 2018
Lawsuits, domicile of litigation											arbitration claim under CAM rules
Lawsuits, allegations											controversies resulting from the execution of transport contracts for lithium brine and transport of salts
Lawsuits, litigation status											currently in the evidence stage
Lawsuits, nominal value											$ 3,000
Lawsuit seven
Statement [Line Items]
Lawsuits, name of plaintiff											representatives Claudia Nathalie Mix Jiménez, Gael Fernanda Yeomans Araya, Camila Ruzlay Rojas Valderrama
Lawsuits, name of defendant											Corfo
Lawsuits, lawsuit filing date											September 2018
Lawsuits, allegations											Salar de Atacama Project Contract signed between Corfo and SQM Salar.
Lawsuits, litigation status											discussion stage
Lawsuit eight
Statement [Line Items]
Lawsuits, name of plaintiff											The Company and FPC Ingeniería y Construcción SpA
Lawsuits, lawsuit filing date											May 2019
Lawsuits, allegations											alleged extracontractual liability derived from the traffic accident occurring
Lawsuits, litigation status											on March 5, 2018, involving the overturn of a truck owned by FPC and the subsequent death of its two occupants, both employees of FPC. The four children of one of the deceased workers are the plaintiffs in this case and are seeking compensation for moral damages.
Lawsuits, nominal value											$ 1,200
Lawsuit nine
Statement [Line Items]
Lawsuits, damages owed value										$ 493
Lawsuit ten
Statement [Line Items]
Lawsuits, name of plaintiff											Sierra Gorda S.C.M
Lawsuits, name of defendant											the Company
Lawsuits, lawsuit filing date											December 16, 2011
Lawsuits, nominal value											$ 46,000
Interest and associated fines	$ 3,600
Lawsuit fifteen
Statement [Line Items]
Lawsuits, nominal value											$ 542,000
Law Suit One A \| Nitratos Naturais do Chile Ltda. \| Provision for taxes other than income tax \| Appeal pending \| Fazoanda Do Estado De Sao Paulo
Statement [Line Items]
Law suits fines penalties and damages payable														$ 492
Law Suit One B \| Nitratos Naturais do Chile Ltda. \| Provision for taxes other than income tax \| Appeal pending \| Fazoanda Do Estado De Sao Paulo
Statement [Line Items]
Law suits fines penalties and damages payable													$ 265

Other current and non-current non-financial assets - Reimbursements for Exploration and Evaluation, Narrative (Details) - Chile - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Non Metalic Exploration
Disclosure Of Detailed Information About Reimbursements For Exploration And Evaluation [Line Items]
Reimbursements exploration and evaluation	$ 11,417	$ 6,550
Metallic exploration
Disclosure Of Detailed Information About Reimbursements For Exploration And Evaluation [Line Items]
Reimbursements exploration and evaluation	$ 24,910	$ 11,604

Employee benefits - Narrative (Details) $ / shares in Units, CLF in Thousands, $ in Thousands			12 Months Ended
	Apr. 26, 2022 CLF	Apr. 23, 2021 CLF	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) shares	Dec. 31, 2020 USD ($) $ / shares
Employee benefits [Line Items]
Number of shares effected \| shares			42,032	146,708
Personnel compensation \| CLF	CLF 600	CLF 600
Weighted average share price \| $ / shares			$ 54		$ 41.93
Executive compensation plan
Employee benefits [Line Items]
Number of shares effected \| shares			188,740
Personnel compensation \| $			$ 2,251	$ 5,978	$ 875
Financial target compensation plan
Employee benefits [Line Items]
Personnel compensation \| $			$ 8,495

Equity-accounted investees - Investments in Associates (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Equity-accounted investees [Line Items]
Investments accounted for using equity method	$ 54,386	$ 39,824	$ 85,993
Investments accounted for using the equity method of accounting
Equity-accounted investees [Line Items]
Investments accounted for using equity method	26,278	24,112	60,023
Share in profit (loss) of associates accounted for using the equity method	11,481	4,654	7,118
Share in other comprehensive income of associates accounted for using the equity method	(498)	360	382
Share in total comprehensive income of associates accounted for using the equity method	10,983	5,014	7,500
Abu Dhabi Fertilizer Industries WWL
Equity-accounted investees [Line Items]
Investments accounted for using equity method	0	0	11,505
Share in profit (loss) of associates accounted for using the equity method	0	0	(156)
Share in other comprehensive income of associates accounted for using the equity method	0	0	0
Share in total comprehensive income of associates accounted for using the equity method	0	0	(156)
Doktor Tarsa Tarim Sanayi AS
Equity-accounted investees [Line Items]
Investments accounted for using equity method	0	0	0
Share in profit (loss) of associates accounted for using the equity method	0	0	4,031
Share in other comprehensive income of associates accounted for using the equity method	0	0	0
Share in total comprehensive income of associates accounted for using the equity method	0	0	4,031
Ajay North America
Equity-accounted investees [Line Items]
Investments accounted for using equity method	17,654	15,899	14,468
Share in profit (loss) of associates accounted for using the equity method	5,351	2,802	2,191
Share in other comprehensive income of associates accounted for using the equity method	0	0	0
Share in total comprehensive income of associates accounted for using the equity method	5,351	2,802	2,191
Ajay Europe SARL
Equity-accounted investees [Line Items]
Investments accounted for using equity method	8,624	8,213	7,875
Share in profit (loss) of associates accounted for using the equity method	6,130	1,852	1,029
Share in other comprehensive income of associates accounted for using the equity method	(498)	360	756
Share in total comprehensive income of associates accounted for using the equity method	5,632	2,212	1,785
SQM Eastmed Turkey
Equity-accounted investees [Line Items]
Investments accounted for using equity method	0	0	0
Share in profit (loss) of associates accounted for using the equity method	0	0	247
Share in other comprehensive income of associates accounted for using the equity method	0	0	0
Share in total comprehensive income of associates accounted for using the equity method	0	0	247
Kore Potash PLC
Equity-accounted investees [Line Items]
Investments accounted for using equity method	0	0	26,175
Share in profit (loss) of associates accounted for using the equity method	0	0	(224)
Share in other comprehensive income of associates accounted for using the equity method	0	0	(374)
Share in total comprehensive income of associates accounted for using the equity method	$ 0	$ 0	$ (598)

Gains (losses) from operating activities in the statement of income of expenses, included according to their nature - Revenue by Geographic Location (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement [Line Items]
Revenue	$ 10,710,578	$ 2,862,315	$ 1,817,191
Specialty plant nutrition
Statement [Line Items]
Revenue	1,172,334	908,815	701,688
Iodine and derivatives
Statement [Line Items]
Revenue	754,339	437,931	334,657
Lithium and derivatives
Statement [Line Items]
Revenue	8,152,939	936,121	383,373
Potassium
Statement [Line Items]
Revenue	437,180	416,592	209,294
Industrial chemicals
Statement [Line Items]
Revenue	165,200	132,011	160,608
Other
Statement [Line Items]
Revenue	28,586	30,845	27,571
Chile
Statement [Line Items]
Revenue	223,148	219,648	153,745
Chile \| Specialty plant nutrition
Statement [Line Items]
Revenue	128,829	136,523	100,353
Chile \| Iodine and derivatives
Statement [Line Items]
Revenue	1,523	1,538	1,234
Chile \| Lithium and derivatives
Statement [Line Items]
Revenue	1,854	901	399
Chile \| Potassium
Statement [Line Items]
Revenue	64,409	50,573	23,963
Chile \| Industrial chemicals
Statement [Line Items]
Revenue	1,199	4,125	4,059
Chile \| Other
Statement [Line Items]
Revenue	25,334	25,988	23,737
Latin America and the Caribbean
Statement [Line Items]
Revenue	339,941	326,287	159,990
Latin America and the Caribbean \| Specialty plant nutrition
Statement [Line Items]
Revenue	125,712	88,990	69,535
Latin America and the Caribbean \| Iodine and derivatives
Statement [Line Items]
Revenue	16,328	10,198	10,843
Latin America and the Caribbean \| Lithium and derivatives
Statement [Line Items]
Revenue	5,275	4,905	1,597
Latin America and the Caribbean \| Potassium
Statement [Line Items]
Revenue	179,621	214,304	72,697
Latin America and the Caribbean \| Industrial chemicals
Statement [Line Items]
Revenue	11,820	7,367	4,951
Latin America and the Caribbean \| Other
Statement [Line Items]
Revenue	1,185	523	367
Europe
Statement [Line Items]
Revenue	932,558	482,765	380,125
Europe \| Specialty plant nutrition
Statement [Line Items]
Revenue	196,930	179,744	145,896
Europe \| Iodine and derivatives
Statement [Line Items]
Revenue	288,854	173,329	142,161
Europe \| Lithium and derivatives
Statement [Line Items]
Revenue	390,832	75,674	49,719
Europe \| Potassium
Statement [Line Items]
Revenue	27,275	33,948	30,029
Europe \| Industrial chemicals
Statement [Line Items]
Revenue	27,725	18,662	11,585
Europe \| Other
Statement [Line Items]
Revenue	942	1,408	735
North America
Statement [Line Items]
Revenue	914,187	558,002	427,570
North America \| Specialty plant nutrition
Statement [Line Items]
Revenue	489,327	314,895	246,737
North America \| Iodine and derivatives
Statement [Line Items]
Revenue	141,683	102,746	90,292
North America \| Lithium and derivatives
Statement [Line Items]
Revenue	151,152	50,349	25,558
North America \| Potassium
Statement [Line Items]
Revenue	71,711	57,682	39,432
North America \| Industrial chemicals
Statement [Line Items]
Revenue	59,402	29,860	23,963
North America \| Other
Statement [Line Items]
Revenue	912	2,470	1,588
Asia and Others
Statement [Line Items]
Revenue	8,300,744	1,275,613	695,761
Asia and Others \| Specialty plant nutrition
Statement [Line Items]
Revenue	231,536	188,663	139,167
Asia and Others \| Iodine and derivatives
Statement [Line Items]
Revenue	305,951	150,120	90,127
Asia and Others \| Lithium and derivatives
Statement [Line Items]
Revenue	7,603,826	804,292	306,100
Asia and Others \| Potassium
Statement [Line Items]
Revenue	94,164	60,085	43,173
Asia and Others \| Industrial chemicals
Statement [Line Items]
Revenue	65,054	71,997	116,050
Asia and Others \| Other
Statement [Line Items]
Revenue	$ 213	$ 456	$ 1,144

Inventories - Breakdown of Inventory Allowances (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Inventories
Raw material and supplies for production	$ 4,186	$ 1,865
Products-in-progress	83,499	59,858
Finished product	16,372	14,169
Total	$ 104,057	$ 75,892	$ 80,930	$ 88,174

Financial instruments - Unsecured Obligations, Current (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Oct. 31, 2018
Financial instruments [Line Items]
Notional amounts	$ 345,949	$ 43,396
Current maturities	345,949	43,396
Borrowing costs	(2,360)	(2,802)
Total	343,589	40,594
Not later than three months
Financial instruments [Line Items]
Notional amounts	32,517	37,555
Current maturities	32,517	37,555
Later than three months and not later than one year
Financial instruments [Line Items]
Notional amounts	313,432	5,841
Current maturities	$ 313,432	$ 5,841
Single series bond Two
Financial instruments [Line Items]
Nominal rate	4.38%	4.38%
Effective rate	1.17%	1.56%
Notional amounts	$ 4,648	$ 4,648
Current maturities	4,648	4,648
Borrowing costs	(433)	(433)
Total	4,215	4,215
Single series bond Two \| Not later than three months
Financial instruments [Line Items]
Notional amounts	4,648	4,648
Current maturities	4,648	4,648
Single series bond Two \| Later than three months and not later than one year
Financial instruments [Line Items]
Notional amounts	0	0
Current maturities	$ 0	$ 0
Single series bond Three
Financial instruments [Line Items]
Nominal rate	3.63%	3.63%
Effective rate	0.56%	0.74%
Notional amounts	$ 302,658	$ 2,658
Current maturities	302,658	2,658
Borrowing costs	(170)	(614)
Total	302,488	2,044
Single series bond Three \| Not later than three months
Financial instruments [Line Items]
Notional amounts	0	0
Current maturities	0	0
Single series bond Three \| Later than three months and not later than one year
Financial instruments [Line Items]
Notional amounts	302,658	2,658
Current maturities	$ 302,658	$ 2,658
Single series bond Five
Financial instruments [Line Items]
Nominal rate	4.25%	4.25%
Effective rate	3.01%	3.23%
Notional amounts	$ 2,869	$ 2,869
Current maturities	2,869	2,869
Borrowing costs	(679)	(679)
Total	2,190	2,190
Single series bond Five \| Not later than three months
Financial instruments [Line Items]
Notional amounts	0	0
Current maturities	0	0
Single series bond Five \| Later than three months and not later than one year
Financial instruments [Line Items]
Notional amounts	2,869	2,869
Current maturities	$ 2,869	$ 2,869
Series H bonds
Financial instruments [Line Items]
Nominal rate	4.90%	4.90%
Effective rate	1.23%	1.75%
Notional amounts	$ 17,566	$ 16,026
Current maturities	17,566	16,026
Borrowing costs	(172)	(172)
Total	17,394	15,854
Series H bonds \| Not later than three months
Financial instruments [Line Items]
Notional amounts	17,566	16,026
Current maturities	17,566	16,026
Series H bonds \| Later than three months and not later than one year
Financial instruments [Line Items]
Notional amounts	0	0
Current maturities	$ 0	$ 0
Series O bonds
Financial instruments [Line Items]
Nominal rate	3.80%	3.80%
Effective rate	1.89%	2.06%
Notional amounts	$ 965	$ 863
Current maturities	965	863
Borrowing costs	(82)	(82)
Total	883	781
Series O bonds \| Not later than three months
Financial instruments [Line Items]
Notional amounts	965	863
Current maturities	965	863
Series O bonds \| Later than three months and not later than one year
Financial instruments [Line Items]
Notional amounts	0	0
Current maturities	$ 0	$ 0
Series P bonds
Financial instruments [Line Items]
Nominal rate	3.25%	3.25%
Effective rate	1.72%	2.04%
Notional amounts	$ 1,830	$ 1,636
Current maturities	1,830	1,636
Borrowing costs	(12)	(12)
Total	1,818	1,624
Series P bonds \| Not later than three months
Financial instruments [Line Items]
Notional amounts	1,830	1,636
Current maturities	1,830	1,636
Series P bonds \| Later than three months and not later than one year
Financial instruments [Line Items]
Notional amounts	0	0
Current maturities	$ 0	$ 0
Series Q bonds
Financial instruments [Line Items]
Nominal rate	3.45%	3.45%
Effective rate	2.63%	2.72%	3.45%
Notional amounts	$ 351	$ 314
Current maturities	351	314
Borrowing costs	(20)	(21)
Total	331	293
Series Q bonds \| Not later than three months
Financial instruments [Line Items]
Notional amounts	0	0
Current maturities	0	0
Series Q bonds \| Later than three months and not later than one year
Financial instruments [Line Items]
Notional amounts	351	314
Current maturities	$ 351	$ 314
Single Series Bond Six
Financial instruments [Line Items]
Nominal rate	4.25%	4.25%
Effective rate	3.79%	4.00%
Notional amounts	$ 7,508	$ 7,508
Current maturities	7,508	7,508
Borrowing costs	(237)	(237)
Total	7,271	7,271
Single Series Bond Six \| Not later than three months
Financial instruments [Line Items]
Notional amounts	7,508	7,508
Current maturities	7,508	7,508
Single Series Bond Six \| Later than three months and not later than one year
Financial instruments [Line Items]
Notional amounts	0	0
Current maturities	$ 0	$ 0
Single Series Seventh Issue Bonds
Financial instruments [Line Items]
Nominal rate	3.50%	3.50%
Effective rate	3.44%	3.62%
Notional amounts	$ 7,554	$ 6,874
Current maturities	7,554	6,874
Borrowing costs	(555)	(552)
Total	6,999	6,322
Single Series Seventh Issue Bonds \| Not later than three months
Financial instruments [Line Items]
Notional amounts	0	6,874
Current maturities	0	6,874
Single Series Seventh Issue Bonds \| Later than three months and not later than one year
Financial instruments [Line Items]
Notional amounts	7,554	0
Current maturities	$ 7,554	$ 0

Financial instruments - Renegotiated Portfolio and Impairment Provision for Doubtful Receivables (Details) $ in Thousands	Dec. 31, 2022 USD ($) customer	Dec. 31, 2021 USD ($) employee
Financial instruments [Line Items]
Total Gross Book Value	$ 1,087,420	$ 654,073
Uncollateralized Portfolio
Financial instruments [Line Items]
Number of customers under no renegotiated terms	1,273	1,517
Portfolio under no renegotiated terms	$ 1,005,437	$ 599,637
Number of customers under renegotiated terms	82	126
Portfolio under renegotiated terms, gross	$ 1,545	$ 1,027
Receivables due from related parties, current
Financial instruments [Line Items]
Total Gross Book Value	83,000	86,869
Impairment Estimate	$ 1,378	$ 717
Between 1 and 30 days
Financial instruments [Line Items]
Expected credit loss rate	1.00%	8.00%
Total Gross Book Value	$ 30,187	$ 22,633
Impairment Estimate	$ 391	$ 1,856
Between 1 and 30 days \| Uncollateralized Portfolio
Financial instruments [Line Items]
Number of customers under no renegotiated terms	149	112
Portfolio under no renegotiated terms	$ 30,116	$ 22,632
Number of customers under renegotiated terms	4	0
Portfolio under renegotiated terms, gross	$ 71	$ 0
Between 31 and 60 days
Financial instruments [Line Items]
Expected credit loss rate	7.00%	32.00%
Total Gross Book Value	$ 1,457	$ 2,113
Impairment Estimate	$ 108	$ 673
Between 31 and 60 days \| Uncollateralized Portfolio
Financial instruments [Line Items]
Number of customers under no renegotiated terms	25	18
Portfolio under no renegotiated terms	$ 1,352	$ 2,114
Number of customers under renegotiated terms	2	0
Portfolio under renegotiated terms, gross	$ 105	$ 0
Between 61 and 90 days
Financial instruments [Line Items]
Expected credit loss rate	6.00%	34.00%
Total Gross Book Value	$ 3,336	$ 1,015
Impairment Estimate	$ 186	$ 346
Between 61 and 90 days \| Uncollateralized Portfolio
Financial instruments [Line Items]
Number of customers under no renegotiated terms	2	11
Portfolio under no renegotiated terms	$ 2,632	$ 1,015
Number of customers under renegotiated terms	3	0
Portfolio under renegotiated terms, gross	$ 704	$ 0
More than 91 days
Financial instruments [Line Items]
Expected credit loss rate	81.00%	71.00%
Total Gross Book Value	$ 3,873	$ 3,874
Impairment Estimate	$ 3,126	$ 2,753
More than 91 days \| Uncollateralized Portfolio
Financial instruments [Line Items]
Number of customers under no renegotiated terms \| customer	10
Portfolio under no renegotiated terms	$ 235
Number of customers under renegotiated terms \| customer	0
Portfolio under renegotiated terms, gross	$ 0
Between 91 and 120 days \| Uncollateralized Portfolio
Financial instruments [Line Items]
Number of customers under no renegotiated terms \| employee		7
Portfolio under no renegotiated terms		$ 202
Number of customers under renegotiated terms \| employee		0
Portfolio under renegotiated terms, gross		$ 0
Between 121 and 150 days \| Uncollateralized Portfolio
Financial instruments [Line Items]
Number of customers under no renegotiated terms	1	3
Portfolio under no renegotiated terms	$ 84	$ 43
Number of customers under renegotiated terms	0	0
Portfolio under renegotiated terms, gross	$ 0	$ 0
Between 151 and 180 days \| Uncollateralized Portfolio
Financial instruments [Line Items]
Number of customers under no renegotiated terms	2	3
Portfolio under no renegotiated terms	$ 180	$ 4
Number of customers under renegotiated terms	1	0
Portfolio under renegotiated terms, gross	$ 7	$ 0
Between 181 and 210 days \| Uncollateralized Portfolio
Financial instruments [Line Items]
Number of customers under no renegotiated terms	4	3
Portfolio under no renegotiated terms	$ 67	$ 130
Number of customers under renegotiated terms	2	0
Portfolio under renegotiated terms, gross	$ 27	$ 0
Between 211 and 250 days \| Uncollateralized Portfolio
Financial instruments [Line Items]
Number of customers under no renegotiated terms	7	1
Portfolio under no renegotiated terms	$ 192	$ 1
Number of customers under renegotiated terms	3	2
Portfolio under renegotiated terms, gross	$ 54	$ 4
More than 250 days \| Uncollateralized Portfolio
Financial instruments [Line Items]
Number of customers under no renegotiated terms	76	80
Portfolio under no renegotiated terms	$ 2,726	$ 2,597
Number of customers under renegotiated terms	55	117
Portfolio under renegotiated terms, gross	$ 301	$ 893
Current
Financial instruments [Line Items]
Expected credit loss rate		1.00%
Total Gross Book Value	968,129	$ 571,029
Impairment Estimate	$ 948	$ 4,724
Current \| Uncollateralized Portfolio
Financial instruments [Line Items]
Number of customers under no renegotiated terms	997	1,279
Portfolio under no renegotiated terms	$ 967,853	$ 570,899
Number of customers under renegotiated terms	12	7
Portfolio under renegotiated terms, gross	$ 276	$ 130
Trade
Financial instruments [Line Items]
Total Gross Book Value	1,006,982	600,664
Impairment Estimate	$ 4,759	$ 10,352

Reportable segments - Operating Segment Items (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement [Line Items]
Revenue	$ 10,710,578	$ 2,862,315	$ 1,817,191
Cost of sales	(4,973,953)	(1,772,208)	(1,334,321)
Administrative expenses	(142,644)	(118,893)	(107,017)
Finance expense	(86,651)	(84,626)	(82,199)
Depreciation and amortization expense	(244,458)	(214,239)	(203,912)
The entity's interest in the profit or loss of associates and joint ventures accounted for by the equity method	20,159	11,132	8,940
Income before taxes	5,486,496	841,221	238,538
Income tax expense	(1,572,212)	(249,016)	(70,179)
Net income (loss)	3,914,284	592,205	168,359
Assets	10,819,101	7,180,201	4,818,463
Investment accounted for under the equity method	54,386	39,824	85,993
Incorporation of non-current assets other than financial instruments, deferred tax assets, net defined benefit assets and rights arising from insurance contracts	1,757,581	152,663	358,009
Liabilities	5,887,100	3,964,230	2,655,885
Impairment loss of financial assets recognized in profit or loss	3,369	(235)	4,684
Impairment loss of non-financial assets recognized in profit or loss	(42,233)	(6,060)	(11,644)
Cash flows from operating activities	4,077,595	822,520	182,234
Cash flows used in investing activities	(909,401)	(1,006,943)	(167,091)
Cash flows from financing activities	(2,002,969)	1,206,485	(94,132)
Operating Segments
Statement [Line Items]
Revenue	10,710,578	2,862,315	1,817,191
Cost of sales	(4,973,953)	(1,772,208)	(1,334,321)
Administrative expenses	0	0	0
Finance expense	0	0	0
Depreciation and amortization expense	(244,458)	(214,239)	(203,912)
The entity's interest in the profit or loss of associates and joint ventures accounted for by the equity method	0	0	0
Income before taxes	5,736,625	1,090,107	482,870
Income tax expense	0	0	0
Net income (loss)	5,736,625	1,090,107	482,870
Cash flows from operating activities	0	0	0
Cash flows used in investing activities	0	0	0
Cash flows from financing activities	0	0	0
Unallocated amounts
Statement [Line Items]
Revenue	0		0
Cost of sales	0	0	0
Administrative expenses	(142,644)	(118,893)	(107,017)
Finance expense	(86,651)	(84,626)	(82,199)
Depreciation and amortization expense			0
The entity's interest in the profit or loss of associates and joint ventures accounted for by the equity method	20,159	11,132	8,940
Income before taxes	(250,129)	(248,886)	(244,332)
Income tax expense	(1,572,212)	(249,016)	(70,179)
Net income (loss)	(1,822,341)	(497,902)	(314,511)
Assets	10,819,101	7,180,201	4,818,463
Investment accounted for under the equity method	54,386	39,824	85,993
Incorporation of non-current assets other than financial instruments, deferred tax assets, net defined benefit assets and rights arising from insurance contracts	1,757,581	152,663	358,009
Liabilities	5,887,100	3,964,230	2,655,885
Impairment loss of financial assets recognized in profit or loss	3,369	(235)	4,684
Impairment loss of non-financial assets recognized in profit or loss	(42,233)	(6,060)	(11,644)
Cash flows from operating activities	4,077,595	822,520	182,234
Cash flows used in investing activities	(909,401)	(1,006,943)	(167,091)
Cash flows from financing activities	(2,002,969)	1,206,485	(94,132)
Specialty plant nutrients
Statement [Line Items]
Revenue	1,172,334	908,815	701,688
Cost of sales	(722,261)	(646,930)	(537,801)
Administrative expenses	0	0	0
Finance expense	0	0	0
Depreciation and amortization expense	(63,321)	(58,808)	(55,335)
The entity's interest in the profit or loss of associates and joint ventures accounted for by the equity method	0	0	0
Income before taxes	450,073	261,885	163,887
Income tax expense	0	0	0
Net income (loss)	450,073	261,885	163,887
Cash flows from operating activities	0	0	0
Cash flows used in investing activities	0	0	0
Cash flows from financing activities	0	0	0
Iodine and its derivatives
Statement [Line Items]
Revenue	754,339	437,931	334,657
Cost of sales	(282,100)	(240,341)	(168,499)
Administrative expenses	0	0	0
Finance expense	0	0	0
Depreciation and amortization expense	(53,734)	(41,215)	(40,687)
The entity's interest in the profit or loss of associates and joint ventures accounted for by the equity method	0	0	0
Income before taxes	472,239	197,590	166,158
Income tax expense	0	0	0
Net income (loss)	472,239	197,590	166,158
Cash flows from operating activities	0	0	0
Cash flows used in investing activities	0	0	0
Cash flows from financing activities	0	0	0
Lithium and its derivatives
Statement [Line Items]
Revenue	8,152,939	936,121	383,373
Cost of sales	(3,636,852)	(494,794)	(297,048)
Administrative expenses	0	0	0
Finance expense	0	0	0
Depreciation and amortization expense	(88,510)	(65,014)	(56,092)
The entity's interest in the profit or loss of associates and joint ventures accounted for by the equity method	0	0	0
Income before taxes	4,516,087	441,327	86,325
Income tax expense	0	0	0
Net income (loss)	4,516,087	441,327	86,325
Cash flows from operating activities	0	0	0
Cash flows used in investing activities	0	0	0
Cash flows from financing activities	0	0	0
Industrial chemicals
Statement [Line Items]
Revenue	165,200	132,011	160,608
Cost of sales	(112,247)	(109,067)	(119,092)
Administrative expenses	0	0	0
Finance expense	0	0	0
Depreciation and amortization expense	(14,724)	(13,743)	(14,136)
The entity's interest in the profit or loss of associates and joint ventures accounted for by the equity method	0	0	0
Income before taxes	52,953	22,944	41,516
Income tax expense	0	0	0
Net income (loss)	52,953	22,944	41,516
Cash flows from operating activities	0	0	0
Cash flows used in investing activities	0	0	0
Cash flows from financing activities	0	0	0
Potassium
Statement [Line Items]
Revenue	437,180	416,592	209,294
Cost of sales	(193,581)	(253,125)	(187,019)
Administrative expenses	0	0	0
Finance expense	0	0	0
Depreciation and amortization expense	(24,043)	(35,290)	(34,570)
The entity's interest in the profit or loss of associates and joint ventures accounted for by the equity method	0	0	0
Income before taxes	243,599	163,467	22,275
Income tax expense	0	0	0
Net income (loss)	243,599	163,467	22,275
Cash flows from operating activities	0	0	0
Cash flows used in investing activities	0	0	0
Cash flows from financing activities	0	0	0
Other products and services
Statement [Line Items]
Revenue	28,586	30,845	27,571
Cost of sales	(26,912)	(27,951)	(24,862)
Administrative expenses	0	0	0
Finance expense	0	0	0
Depreciation and amortization expense	(126)	(169)	(3,092)
The entity's interest in the profit or loss of associates and joint ventures accounted for by the equity method	0	0	0
Income before taxes	1,674	2,894	2,709
Income tax expense	0	0	0
Net income (loss)	1,674	2,894	2,709
Cash flows from operating activities	0	0	0
Cash flows used in investing activities	0	0	0
Cash flows from financing activities	0	0	0
Reportable segments
Statement [Line Items]
Revenue	10,710,578	2,862,315	1,817,191
Cost of sales	(4,973,953)	(1,772,208)	(1,334,321)
Administrative expenses	0	0	0
Finance expense	0	0	0
Depreciation and amortization expense	(244,458)	(214,239)	(203,912)
The entity's interest in the profit or loss of associates and joint ventures accounted for by the equity method	0	0	0
Income before taxes	5,736,625	1,090,107	482,870
Income tax expense	0	0	0
Net income (loss)	5,736,625	1,090,107	482,870
Cash flows from operating activities	0	0	0
Cash flows used in investing activities	0	0	0
Cash flows from financing activities	0	0	0
Parent
Statement [Line Items]
Revenue			1,817,191
Assets	8,430,376	5,988,757
Liabilities	3,533,744	2,807,237
Parent \| Operating Segments
Statement [Line Items]
Revenue	10,710,578	2,862,315	1,817,191
Parent \| Unallocated amounts
Statement [Line Items]
Revenue	0	0	0
Parent \| Specialty plant nutrients
Statement [Line Items]
Revenue	1,172,334	908,815	701,688
Parent \| Iodine and its derivatives
Statement [Line Items]
Revenue	754,339	437,931	334,657
Parent \| Lithium and its derivatives
Statement [Line Items]
Revenue	8,152,939	936,121	383,373
Parent \| Industrial chemicals
Statement [Line Items]
Revenue	165,200	132,011	160,608
Parent \| Potassium
Statement [Line Items]
Revenue	437,180	416,592	209,294
Parent \| Other products and services
Statement [Line Items]
Revenue	28,586	30,845	27,571
Parent \| Reportable segments
Statement [Line Items]
Revenue	10,710,578	2,862,315	1,817,191
Other Operating Segment
Statement [Line Items]
Revenue	0	0	0
Other Operating Segment \| Operating Segments
Statement [Line Items]
Revenue	0	0	0
Other Operating Segment \| Unallocated amounts
Statement [Line Items]
Revenue	0	0	0
Other Operating Segment \| Specialty plant nutrients
Statement [Line Items]
Revenue	0	0	0
Other Operating Segment \| Iodine and its derivatives
Statement [Line Items]
Revenue	0	0	0
Other Operating Segment \| Lithium and its derivatives
Statement [Line Items]
Revenue	0	0	0
Other Operating Segment \| Industrial chemicals
Statement [Line Items]
Revenue	0	0	0
Other Operating Segment \| Potassium
Statement [Line Items]
Revenue	0	0	0
Other Operating Segment \| Other products and services
Statement [Line Items]
Revenue	0	0	0
Other Operating Segment \| Reportable segments
Statement [Line Items]
Revenue	$ 0	$ 0	$ 0

Financial instruments - Bank Borrowings, Current (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 21, 2022
Financial instruments [Line Items]
Notional amounts	$ 345,949	$ 43,396
Borrowing costs	(2,360)	(2,802)
Bank borrowings
Financial instruments [Line Items]
Notional amounts	130,000	0
Current amounts	130,989	85
Borrowing costs	(149)	0
Total	130,840	85
Bank borrowings \| Not later than three months
Financial instruments [Line Items]
Notional amounts	60,000	0
Current amounts	60,596	85
Bank borrowings \| Later than three months and not later than one year
Financial instruments [Line Items]
Notional amounts	70,000	0
Current amounts	$ 70,393	$ 0
Scotiabank Cayman
Financial instruments [Line Items]
Effective rate	2.33%	2.05%
Nominal rate	3.19%	1.36%
Scotiabank Cayman \| Bank borrowings
Financial instruments [Line Items]
Effective rate	0.97%	0.82%
Nominal rate	5.22%	1.36%
Notional amounts	$ 70,000	$ 0
Current amounts	70,393	85
Borrowing costs	(149)	0
Total	70,244	85
Scotiabank Cayman \| Bank borrowings \| Not later than three months
Financial instruments [Line Items]
Notional amounts	0	0
Current amounts		85
Scotiabank Cayman \| Bank borrowings \| Later than three months and not later than one year
Financial instruments [Line Items]
Notional amounts	70,000	0
Current amounts	$ 70,393	$ 0
Banco Ita CorpBanca \| Bank borrowings
Financial instruments [Line Items]
Effective rate	4.50%
Nominal rate	4.50%
Notional amounts	$ 20,000
Current amounts	20,062
Borrowing costs	0
Total	20,062
Banco Ita CorpBanca \| Bank borrowings \| Not later than three months
Financial instruments [Line Items]
Notional amounts	20,000
Current amounts	20,062
Banco Ita CorpBanca \| Bank borrowings \| Later than three months and not later than one year
Financial instruments [Line Items]
Notional amounts	0
Current amounts	$ 0
Banco Estado \| Bank borrowings
Financial instruments [Line Items]
Effective rate	4.59%
Nominal rate	4.59%
Notional amounts	$ 40,000
Current amounts	40,128
Borrowing costs	0
Total	40,128
Banco Estado \| Bank borrowings \| Not later than three months
Financial instruments [Line Items]
Notional amounts	40,000
Current amounts	40,128
Banco Estado \| Bank borrowings \| Later than three months and not later than one year
Financial instruments [Line Items]
Notional amounts	0
Current amounts	$ 0
Scotiabank Sud Americano
Financial instruments [Line Items]
Effective rate	5.10%
Nominal rate	6.08%
Scotiabank Sud Americano \| Bank borrowings
Financial instruments [Line Items]
Notional amounts	$ 0
Current amounts	406
Borrowing costs	0
Total	406
Scotiabank Sud Americano \| Bank borrowings \| Not later than three months
Financial instruments [Line Items]
Notional amounts	0
Current amounts	406
Scotiabank Sud Americano \| Bank borrowings \| Later than three months and not later than one year
Financial instruments [Line Items]
Notional amounts	0
Current amounts	0
Banco Santander
Financial instruments [Line Items]
Current amounts	$ 0
Banco Santander \| Minimum
Financial instruments [Line Items]
Notional amounts			$ 10,000
Banco Santander \| Maximum
Financial instruments [Line Items]
Notional amounts			$ 100,000

Employee benefits - Changes in Plan Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Employee benefits
Fair value of plan assets at the start of the year	$ 13,497	$ 12,888	$ 8,754
Real return (loss) in the plan assets	346	(1,028)	(4,642)
Benefits paid	(430)	(419)	(508)
Settlement	(7,739)
Fair value of plan assets at the end of the year	4,982	13,497	12,888
Non-current-assets	4,703	3,947	3,025
Net actuarial loss at the beginning of the year	1,039	192	(3,634)
Amortization during the year	0	0	326
Settlement	(1,627)	0	0
Gain	647	847	3,500
Adjustment to recognize the minimum pension obligations	$ 59	$ 1,039	$ 192

Intangible assets and goodwill - Movements in Identifiable Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill Begining Balance	$ 34,596	$ 41,966
Goodwill Ending Balance	967	34,596
Gross carrying amount
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill Begining Balance	34,596	41,966
Additional recognition	0
Impairment losses recognized in profit or loss for the year	(33,629)
Total increase (decrease)	(33,629)	(7,370)
Goodwill Ending Balance	967	34,596
SQM S.A. \| Gross carrying amount
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill Begining Balance	22,255	22,255
Additional recognition	0
Impairment losses recognized in profit or loss for the year	(22,255)
Total increase (decrease)	(22,255)
Goodwill Ending Balance	0	22,255
SQM Iberian S.A. \| Gross carrying amount
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill Begining Balance	148	148
Additional recognition	0
Impairment losses recognized in profit or loss for the year	0
Total increase (decrease)	0
Goodwill Ending Balance	148	148
SQM Investment Corporation N.V. \| Gross carrying amount
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill Begining Balance	86	86
Additional recognition	0
Impairment losses recognized in profit or loss for the year	0
Total increase (decrease)	0
Goodwill Ending Balance	86	86
Soquimich European Holding B.V. \| Gross carrying amount
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill Begining Balance	11,383	11,383
Additional recognition	0
Impairment losses recognized in profit or loss for the year	(11,374)
Total increase (decrease)	(11,374)
Goodwill Ending Balance	9	11,383
SQM Holland B.V. \| Gross carrying amount
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill Begining Balance		7,370
Total increase (decrease)		(7,370)
Goodwill Ending Balance
SQM Potasio S.A. \| Gross carrying amount
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill Begining Balance	724	724
Additional recognition	0
Impairment losses recognized in profit or loss for the year	0
Total increase (decrease)	0
Goodwill Ending Balance	$ 724	$ 724

Property, plant and equipment (Tables)

12 Months Ended

Dec. 31, 2022

Property, plant and equipment

Schedule of property, plant and equipment

15.1Types of property, plant and equipment


	As of	As of
	December 31,	December 31,
Description of types of property, plant and equipment	2022	2021
	ThUS$	ThUS$
Property, plant and equipment, net
Land	23,482	23,507
Buildings	273,913	270,563
Other property, plant and equipment	34,960	32,846
Transport equipment	9,487	2,463
Supplies and accessories	4,798	5,556
Office equipment	1,355	1,386
Network and communication equipment	1,872	1,359
Mining assets	60,284	38,241
IT equipment	3,147	3,570
Energy generating assets	3,253	3,970
Constructions in progress	1,328,508	731,787
Machinery, plant and equipment	981,779	896,977
Total	2,726,838	2,012,225
Property, plant and equipment, gross
Land	23,482	23,507
Buildings	803,398	767,096
Other property, plant and equipment	250,058	239,582
Transport equipment	21,343	13,357
Supplies and accessories	29,426	28,786
Office equipment	13,141	12,943
Network and communication equipment	10,878	9,577
Mining assets	230,803	195,889
IT equipment	31,197	30,456
Energy generating assets	38,540	38,540
Constructions in progress	1,328,508	731,787
Machinery, plant and equipment	3,716,440	3,464,881
Total	6,497,214	5,556,401
Accumulated depreciation and value impairment of property, plant and equipment, total
Accumulated depreciation and impairment of buildings	(529,485)	(496,533)
Accumulated depreciation and impairment of other property, plant and equipment	(215,098)	(206,736)
Accumulated depreciation and impairment of transport equipment	(11,856)	(10,894)
Accumulated depreciation and impairment of supplies and accessories	(24,628)	(23,230)
Accumulated depreciation and impairment of office equipment	(11,786)	(11,557)
Accumulated depreciation and impairment of network and communication equipment	(9,006)	(8,218)
Accumulated depreciation and impairment of mining assets	(170,519)	(157,648)
Accumulated depreciation and impairment of IT equipment	(28,050)	(26,886)
Accumulated depreciation and impairment of energy generating assets	(35,287)	(34,570)
Accumulated depreciation and impairment of machinery, plant and equipment	(2,734,661)	(2,567,904)
Total	(3,770,376)	(3,544,176)


	As of	As of
	December 31,	December 31,
Description of classes of property, plant and equipment	2022	2021
	ThUS$	ThUS$
Property, plant and equipment, net
Pumps	32,120	28,889
Conveyor Belt	17,135	18,294
Crystallizer	48,582	20,189
Plant Equipment	163,594	168,370
Tanks	25,923	22,358
Filter	47,976	41,438
Electrical equipment/facilities	110,275	97,594
Other Property, Plant & Equipment	112,628	71,150
Site Closure	36,673	34,248
Piping	107,481	106,317
Well	177,708	202,982
Pond	41,729	42,547
Spare Parts (1)	59,955	42,601
Total	981,779	896,977

(1)	The reconciliation of the spare parts provisions as of December 31, 2022 and 2021 is as follows:


	As of	As of
	December 31,	December 31,
Reconciliation	2022	2021
	ThUS$	ThUS$
Opening balance	48,262	42,881
Increase in provision	3,810	5,381
Closing balance	52,072	48,262

Schedule of reconciliation of changes in property, plant and equipment

15.2Reconciliation of changes in property, plant and equipment by type:

Reconciliation of changes in property, plant and equipment by class as of December 31, 2022 and 2021:


			Other
Reconciliation of changes in property,			property,		Supplies		Network and			Energy	Assets	Machinery,	Property,
plant and equipment by class as of			plant and	Transport	and	Equipment	communication	Mining	IT	generating	under	plant and	plant and
	Land	Buildings	equipment	equipment	accessories	office	equipment	assets	equipment	assets	construction	equipment	equipment
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
At January 1, 2022	23,507	270,563	32,846	2,463	5,556	1,386	1,359	38,241	3,570	3,970	731,787	896,977	2,012,225
Additions	—	495	425	146	4	7	152	—	270	—	922,690	7,194	931,383
Disposals	—	—	—	—	—	—	—	—	—	—	—	(19)	(19)
Depreciation for the year	—	(32,915)	(8,691)	(962)	(1,400)	(248)	(788)	(12,871)	(1,256)	(717)		(158,865)	(218,713)
Impairment (2)	—	(156)										(7,928)	(8,084)
Increase (decrease) in foreign currency translation difference (2)	(5)	(7)	—	—	—	(1)	—	—	—	—	—	(20)	(33)
Reclassifications	121	37,147	10,449	7,840	726	213	1,149	34,914	582	—	(316,994)	223,853	—
Other increases (decreases)	—	(1,127)	(69)	—	(88)	(2)	—	—	(19)	—	(8,975)	20,587	10,307
Decreases for classification as held for sale	(141)	(87)	—	—	—	—	—	—	—	—	—	—	(228)
Subtotal	(25)	3,350	2,114	7,024	(758)	(31)	513	22,043	(423)	(717)	596,721	84,802	714,613
As of December 31, 2022	23,482	273,913	34,960	9,487	4,798	1,355	1,872	60,284	3,147	3,253	1,328,508	981,779	2,726,838
Historical cost	23,482	803,398	250,058	21,343	29,426	13,141	10,878	230,803	31,197	38,540	1,328,508	3,716,440	6,497,214
Accumulated depreciation	—	(529,485)	(215,098)	(11,856)	(24,628)	(11,786)	(9,006)	(170,519)	(28,050)	(35,287)	—	(2,734,661)	(3,770,376)
At January 1, 2021	23,579	239,666	35,418	2,880	4,183	459	1,272	47,052	4,083	4,878	486,345	887,504	1,737,319
Additions	—	—	346	—	—	29	58	—	232	—	470,112	756	471,533
Disposals	—	—	—	—	—	—	—	—	—	—	—	—	—
Depreciation for the year	—	(30,872)	(7,848)	(759)	(1,384)	(383)	(539)	(10,138)	(1,387)	(908)	—	(141,460)	(195,678)
Impairment (2)	—	(456)	(75)	—	(16)	(8)	—	—	(8)	—	—	(5,019)	(5,582)
Increase (decrease) in foreign currency translation difference (2)	(72)	(80)	(1)	—	—	(1)	—	—	—	—	—	(69)	(223)
Reclassifications	—	62,291	5,008	354	2,773	1,290	553	1,327	557	—	(224,945)	150,792	—
Other increases (decreases)	—	14	(2)	(12)	—	—	15	—	93	—	275	4,473	4,856
Decreases for classification as held for sale	—	—	—	—	—	—	—	—	—	—	—	—	—
Subtotal	(72)	30,897	(2,572)	(417)	1,373	927	87	(8,811)	(513)	(908)	245,442	9,473	274,906
As of December 31, 2021	23,507	270,563	32,846	2,463	5,556	1,386	1,359	38,241	3,570	3,970	731,787	896,977	2,012,225
Historical cost	23,507	767,096	239,582	13,357	28,786	12,943	9,577	195,889	30,456	38,540	731,787	3,464,881	5,556,401
Accumulated depreciation	—	(496,533)	(206,736)	(10,894)	(23,230)	(11,557)	(8,218)	(157,648)	(26,886)	(34,570)	—	(2,567,904)	(3,544,176)

(1)

(2)	See note 21.5. This corresponds to assets identified as not being used in the operation due to their specific characteristics.

Schedule of costs for capitalized interest of property, plant and equipment

The rates and costs for capitalized interest of property, plant and equipment are detailed as follows:


	As of		As of
	December 31,		December 31,
Costs of capitalized interest	2022		2021
	ThUS$		ThUS$
Weighted average capitalization rate of capitalized interest costs	4	%	4	%
Amount of interest cost capitalized	24,708		14,206

Property, plant and equipment - Types and Classes of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Property, plant and equipments [Abstract]
Land	$ 23,482	$ 23,507
Buildings	273,913	270,563
Other property, plant and equipment	34,960	32,846
Transport equipment	9,487	2,463
Suppliers and accessories	4,798	5,556
Office equipment	1,355	1,386
Network and communication equipment	1,872	1,359
Mining assets	60,284	38,241
IT equipment	3,147	3,570
Energy generating assets	3,253	3,970
Construction in progress	1,328,508	731,787
Machinery, plant and equipment	981,779	896,977
Total	2,726,838	2,012,225	$ 1,737,319
Description of classes of property, plant and equipment [Abstract]
Pumps	32,120	28,889
Conveyor Belt	17,135	18,294
Crystallizer	48,582	20,189
Plant Equipment	163,594	168,370
Tanks	25,923	22,358
Filter	47,976	41,438
Electrical equipment/facilities	110,275	97,594
Other Property, Plant & Equipment	112,628	71,150
Site Closure	36,673	34,248
Piping	107,481	106,317
Well	177,708	202,982
Pond	41,729	42,547
Spare Parts	59,955	42,601
Total	981,779	896,977
Gross carrying amount
Property, plant and equipments [Abstract]
Land	23,482	23,507
Buildings	803,398	767,096
Other property, plant and equipment	250,058	239,582
Transport equipment	21,343	13,357
Suppliers and accessories	29,426	28,786
Office equipment	13,141	12,943
Network and communication equipment	10,878	9,577
Mining assets	230,803	195,889
IT equipment	31,197	30,456
Energy generating assets	38,540	38,540
Construction in progress	1,328,508	731,787
Machinery, plant and equipment	3,716,440	3,464,881
Total	6,497,214	5,556,401
Description of classes of property, plant and equipment [Abstract]
Total	3,716,440	3,464,881
Accumulated depreciation and amortization
Property, plant and equipments [Abstract]
Buildings	(529,485)	(496,533)
Other property, plant and equipment	(215,098)	(206,736)
Transport equipment	(11,856)	(10,894)
Suppliers and accessories	(24,628)	(23,230)
Office equipment	(11,786)	(11,557)
Network and communication equipment	(9,006)	(8,218)
Mining assets	(170,519)	(157,648)
IT equipment	(28,050)	(26,886)
Energy generating assets	(35,287)	(34,570)
Machinery, plant and equipment	(2,734,661)	(2,567,904)
Total	(3,770,376)	(3,544,176)
Description of classes of property, plant and equipment [Abstract]
Total	$ (2,734,661)	$ (2,567,904)

Gains (losses) from operating activities in the statement of income of expenses, included according to their nature (Tables)

12 Months Ended

Dec. 31, 2022

Gains (losses) from operating activities in the statement of income of expenses, included according to their nature

Schedule of revenue from operating activities customer activities

(a)

Geographic areas:


For the year ended December 31, 2022
	Specialty
	plant	Iodine and	Lithium and		Industrial		Total
Geographic areas	nutrition	derivatives	derivatives	Potassium	chemicals	Other	ThUS$
Chile	128,829	1,523	1,854	64,409	1,199	25,334	223,148
Latin America and the Caribbean	125,712	16,328	5,275	179,621	11,820	1,185	339,941
Europe	196,930	288,854	390,832	27,275	27,725	942	932,558
North America	489,327	141,683	151,152	71,711	59,402	912	914,187
Asia and Others	231,536	305,951	7,603,826	94,164	65,054	213	8,300,744
Total	1,172,334	754,339	8,152,939	437,180	165,200	28,586	10,710,578


For the year ended December 31, 2021
	Specialty
	plant	Iodine and	Lithium and		Industrial		Total
Geographic areas	nutrition	derivatives	derivatives	Potassium	chemicals	Other	ThUS$
Chile	136,523	1,538	901	50,573	4,125	25,988	219,648
Latin America and the Caribbean	88,990	10,198	4,905	214,304	7,367	523	326,287
Europa	179,744	173,329	75,674	33,948	18,662	1,408	482,765
North America	314,895	102,746	50,349	57,682	29,860	2,470	558,002
Asia and Others	188,663	150,120	804,292	60,085	71,997	456	1,275,613
Total	908,815	437,931	936,121	416,592	132,011	30,845	2,862,315


For the year ended December 31, 2020
	Specialty
	plant	Iodine and	Lithium and		Industrial		Total
Geographic areas	nutrition	derivatives	derivatives	Potassium	chemicals	Other	ThUS$
Chile	100,353	1,234	399	23,963	4,059	23,737	153,745
Latin America and the Caribbean	69,535	10,843	1,597	72,697	4,951	367	159,990
Europa	145,896	142,161	49,719	30,029	11,585	735	380,125
North America	246,737	90,292	25,558	39,432	23,963	1,588	427,570
Asia and Others	139,167	90,127	306,100	43,173	116,050	1,144	695,761
Total	701,688	334,657	383,373	209,294	160,608	27,571	1,817,191

Schedule of main product and service lines


	For the period from January to December of the year
Products and Services	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Specialty plant nutrition	1,172,334	908,815	701,688
- Sodium Nitrates	21,294	24,829	18,291
- Potassium nitrate and sodium potassium nitrate	700,081	539,336	424,041
- Specialty Blends	285,027	234,369	163,033
- Other specialty fertilizers	165,932	110,281	96,323
Iodine and derivatives	754,339	437,931	334,657
Lithium and derivatives	8,152,939	936,121	383,373
Potassium	437,180	416,592	209,294
Industrial chemicals	165,200	132,011	160,608
Other	28,586	30,845	27,571
- Services	3,785	3,428	3,241
- Income from property leases	454	1,531	1,457
- Income from subleases on right-of-use assets	142	146	176
- Commodities	11,838	12,468	11,938
- Other ordinary income of Commercial Offices	12,367	13,272	10,759
Total	10,710,578	2,862,315	1,817,191

Schedule of cost of sales

21.2Cost of sales

Cost of sales broken down by nature of expense:


	For the period from January
	to December of the year
Nature of expense	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Raw materials and consumables used	(561,709)	(345,356)	(287,877)
Classes of employee benefit expenses	(308,744)	(211,771)	(178,956)
Depreciation expense	(218,714)	(195,678)	(182,314)
Depreciation of Right-of-use Assets (contracts under IFRS 16)	(6,549)	(5,963)	(5,814)
Amortization expense	(16,413)	(9,737)	(12,938)
Investment plan expenses	(18,293)	(15,059)	(14,286)
Provision for materials, spare parts and supplies	(7,099)	(505)	640
Contractors	(194,296)	(157,571)	(142,017)
Operating leases	(71,420)	(67,106)	(57,461)
Mining concessions	(14,585)	(7,325)	(6,645)
Operational transportation	(91,130)	(76,004)	(68,730)
Freight / product transportation costs	(94,727)	(77,353)	(52,156)
Purchase of products from third parties	(473,742)	(329,464)	(260,089)
Insurance	(43,323)	(21,869)	(17,657)
Corfo rights and other agreements	(3,272,897)	(247,604)	(74,418)
Export costs	(153,162)	(99,212)	(88,176)
Expenses related to variable lease payments (contracts under IFRS 16)	(3,631)	(1,313)	(1,117)
Variation in gross inventory	631,156	85,709	102,446
Variation in inventory provision	(27,324)	5,038	7,244
Other	(27,351)	5,935	6,000
Total	(4,973,953)	(1,772,208)	(1,334,321)

Schedule of other income

21.3Other income


	For the period from January
	to December of the year
Other income	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Discounts obtained from suppliers	1,404	896	665
Fines charged to suppliers	593	83	267
Taxes recovered	1,646	1,811	1,487
Amounts recovered from insurance	86	293	14,861
Overestimate of provisions for third-party obligations	365	287	118
Sale of assets classified as properties, plant and equipment	246	311	1,626
Sale of mining rights	1,126	8,796	5,852
Easements, pipelines and roads	2,106	4,949	1,619
Refunds for mining patents and notarial expenses	20	198	85
Others	2,262	1,928	313
Total	9,854	19,552	26,893

Schedule of administrative expenses

21.4Administrative expenses


	For the period from January
	to December of the year
Administrative expenses	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Employee benefit expenses	(63,713)	(60,552)	(55,152)
Marketing costs	(5,661)	(2,415)	(2,377)
Amortization expenses	(126)	(118)	(91)
Entertainment expenses	(5,576)	(4,906)	(4,858)
Advisory services	(27,235)	(17,332)	(13,880)
Lease of buildings and facilities	(3,829)	(3,478)	(3,111)
Insurance	(3,011)	(3,901)	(3,478)
Office expenses	(8,596)	(6,363)	(6,204)
Contractors	(7,283)	(5,106)	(5,079)
Depreciation of Right-of-use Assets (contracts under IFRS 16)	(2,656)	(2,743)	(2,617)
Other expenses	(14,958)	(11,979)	(10,170)
Total	(142,644)	(118,893)	(107,017)

Schedule of other expenses

21.5Other expenses


	For the period from January
	to December of the year
Other expenses	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Depreciation and amortization expense
Depreciation of assets not in use	—	—	(138)
Subtotal	—	—	(138)
Impairment (losses) /reversals of impairment losses recognized in profit for the year
Properties, plant and equipment	(8,084)	(5,582)	(9,563)
Intangible assets other than goodwill	(520)	(478)	(1,941)
Goodwill	(33,629)	—	(140)
Non-current assets and disposal groups held for sale	—	—	—
Subtotal	(42,233)	(6,060)	(11,644)
Other expenses, by nature
Legal expenses	(6,841)	(42,254)	(69,965)
VAT and other unrecoverable taxes	(5,694)	(1,015)	(626)
Fines paid	(617)	(882)	(314)
Investment plan expenses	(727)	1	(768)
Exploration expenses	—	(284)	(5,262)
Contributions and donations	(19,096)	(9,037)	(8,793)
Other operating expenses	(763)	(1,074)	(2,102)
Subtotal	(33,738)	(54,545)	(87,830)
Total	(75,971)	(60,605)	(99,612)

Schedule of other gains (losses)

21.6Other gains (losses)


	For the period from January
	to December of the year
Other (losses) income	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Sale of investments in associates	60	—	(11,830)
Adjust previous year application method of participation	—	—	(49)
Impairment of interests in associates	1,349	(2,009)	7,235
Sale of investments in joint ventures	—	—	(481)
Others	(1,292)	(629)	(188)
Total	117	(2,638)	(5,313)

Schedule of (impairment) reversal of losses of financial assets

21.7(Impairment) reversal of losses of financial assets


	For the period from January
	to December of the year
(Impairment) reversal of losses of financial assets	2022	2021	2020
	ThUS$	ThUS$	ThUS$
(Impairment) /reversal of losses of financial assets (See Note 12.2)	3,369	(235)	4,684
Totals	3,369	(235)	4,684

Schedule of expenses by nature

21.8Summary of expenses by nature

The following summary considers notes 21.2, 21.4 and 21.5


	For the period from January
	to December of the year
Expenses by nature	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Raw materials and consumables	(561,709)	(345,356)	(287,877)
Employee benefit expenses	(372,457)	(272,323)	(234,108)
Depreciation expense	(218,714)	(195,678)	(182,452)
Depreciation of right-of-use assets	(9,205)	(8,706)	(8,431)
Impairment of properties, plant and equipment, intangible and Goodwill	(42,233)	(6,060)	(11,644)
Amortization expense	(16,539)	(9,855)	(13,029)
Legal expenses	(6,841)	(42,254)	(69,965)
Investment plan expenses	(19,020)	(15,058)	(15,054)
Exploration expenses	—	(284)	(5,262)
Provision for materials, spare parts and supplies	(7,099)	(505)	640
Contractors	(201,579)	(162,677)	(147,096)
Operational leases	(75,249)	(70,584)	(60,572)
Mining concessions	(14,585)	(7,325)	(6,645)
Operational transportation	(91,130)	(76,004)	(68,730)
Freight and product transportation costs	(94,727)	(77,353)	(52,156)
Purchase of products from third parties	(473,742)	(329,464)	(260,089)
Corfo rights and other agreements	(3,272,897)	(247,604)	(74,418)
Export costs	(153,162)	(99,212)	(88,176)
Expenses related to variable lease payments (contracts under IFRS 16)	(3,631)	(1,313)	(1,117)
Insurance	(46,334)	(25,770)	(21,135)
Consultant and advisor services	(27,235)	(17,332)	(13,880)
Variation in gross inventory	631,156	85,709	102,446
Variation in inventory provision	(27,324)	5,038	7,244
Other expenses	(88,312)	(31,736)	(29,444)
Total expenses by nature	(5,192,568)	(1,951,706)	(1,540,950)

Schedule of finance expenses

21.9Finance expenses


	For the period from January
	to December of the year
Finance expenses	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Interest expense from bank borrowings and overdrafts	(3,065)	(2,664)	(2,797)
Interest expense from bonds	(108,387)	(90,859)	(87,030)
Interest expense from loans	(2,098)	(1,135)	(1,598)
Reversal of capitalized interest expenses	24,708	14,206	8,462
Financial expenses for restoration and rehabilitation provisions	9,357	(1,259)	2,947
Interest on lease agreement	(1,226)	(1,587)	(1,133)
Interest and bank charges	(5,940)	(1,328)	(1,050)
Total	(86,651)	(84,626)	(82,199)

Schedule of finance income

21.10Finance income


	For the period from January
	to December of the year
Finance income	2022	2021	2020
	ThUS$	ThUS$	ThUS$
Interest from term deposits	31,122	3,635	10,260
Interest from marketable securities	10,252	68	2,147
Interest from maintenance of minimum bank balance in current account	6	2	18
Other finance income	3,318	107	259
Other finance interests	2,340	856	1,031
Total	47,038	4,668	13,715

Related party disclosures

12 Months Ended

Dec. 31, 2022

Related party disclosures

Related party disclosures

Note 11Related party disclosures

11.1Related party disclosures

Balances pending at period-end are not guaranteed, accrue no interest and are settled in cash, no guarantees have been delivered or received for trade and other receivables due from related parties or trade and other payables due to related parties.

11.2Relationships between the parent and the entity

Pursuant to Article 99 of Law of the Securities Market Law, the CMF may determine that a company does not have a controlling entity in accordance with the distribution and dispersion of its ownership. On November 30, 2018, the CMF issued the ordinary letter No. 32,131 whereby it determined that Pampa Group, do not exert decisive power over the management of the Company since it does not have a predominance in the ownership that allows it to make management decisions. Therefore, the CMF has determined not to consider Pampa Group as the controlling entity of the Company and that the Company does not have a controlling entity given its current ownership structure.

11.3Detailed identification of related parties and subsidiaries

As of December 31, 2022 and 2021, the detail of entities that are identified as subsidiaries or related parties of the SQM Group is as follows:


Tax ID No	Name	Country of origin	Functional currency	Nature
Foreign	Nitratos Naturais Do Chile Ltda.	Brazil	Dollar	Subsidiary
Foreign	SQM North America Corp.	United States	Dollar	Subsidiary
Foreign	SQM Europe N.V.	Belgium	Dollar	Subsidiary
Foreign	Soquimich European Holding B.V.	Netherlands	Dollar	Subsidiary
Foreign	SQM Corporation N.V.	Curacao	Dollar	Subsidiary
Foreign	SQM Comercial De México S.A. de C.V.	Mexico	Dollar	Subsidiary
Foreign	North American Trading Company	United States	Dollar	Subsidiary
Foreign	Administración y Servicios Santiago S.A. de C.V.	Mexico	Dollar	Subsidiary
Foreign	SQM Perú S.A. (3)	Peru	Dollar	Subsidiary
Foreign	SQM Ecuador S.A.	Ecuador	Dollar	Subsidiary
Foreign	SQM Nitratos Mexico S.A. de C.V.	Mexico	Dollar	Subsidiary
Foreign	SQMC Holding Corporation L.L.P.	United States	Dollar	Subsidiary
Foreign	SQM Investment Corporation N.V.	Curacao	Dollar	Subsidiary
Foreign	SQM Brasil Limitada	Brazil	Dollar	Subsidiary
Foreign	SQM France S.A.	France	Dollar	Subsidiary
Foreign	SQM Japan Co. Ltd.	Japan	Dollar	Subsidiary
Foreign	Royal Seed Trading Corporation A.V.V.	Aruba	Dollar	Subsidiary
Foreign	SQM Oceania Pty Limited	Australia	Dollar	Subsidiary
Foreign	Rs Agro-Chemical Trading Corporation A.V.V.	Aruba	Dollar	Subsidiary
Foreign	SQM Indonesia S.A.	Indonesia	Dollar	Subsidiary
Foreign	SQM Virginia L.L.C.	United States	Dollar	Subsidiary
Foreign	Comercial Caimán Internacional S.A.	Panama	Dollar	Subsidiary
Foreign	SQM África Pty. Ltd.	South Africa	Dollar	Subsidiary
Foreign	SQM Colombia SAS	Colombia	Dollar	Subsidiary
Foreign	SQM Internacional N.V.	Belgium	Dollar	Subsidiary
Foreign	SQM -Shanghai Chemicals Co. Ltd.	China	Dollar	Subsidiary
Foreign	SQM Lithium Specialties LLC	United States	Dollar	Subsidiary
Foreign	SQM Iberian S.A.	Spain	Dollar	Subsidiary
Foreign	SQM Beijing Commercial Co. Ltd.	China	Dollar	Subsidiary
Foreign	SQM Thailand Limited	Thailand	Dollar	Subsidiary
Foreign	SQM Australia PTY	Australia	Dollar	Subsidiary
Foreign	SQM Holland B.V.	Netherlands	Dollar	Subsidiary
Foreign	SQM Korea LLC	Korea	Dollar	Subsidiary
96.801.610-5	Comercial Hydro S.A.	Chile	Dollar	Subsidiary
96.651.060-9	SQM Potasio S.A.	Chile	Dollar	Subsidiary
96.592.190-7	SQM Nitratos S.A.	Chile	Dollar	Subsidiary
96.592.180-K	Ajay SQM Chile S.A.	Chile	Dollar	Subsidiary
79.947.100-0	SQM Industrial S.A.	Chile	Dollar	Subsidiary
79.906.120-1	Isapre Norte Grande Ltda.	Chile	Peso	Subsidiary
79.876.080-7	Almacenes y Depósitos Ltda.	Chile	Peso	Subsidiary


Tax ID No	Name	Country of origin	Functional currency	Nature
79.770.780-5	Servicios Integrales de Tránsitos y Transferencias S.A.	Chile	Dollar	Subsidiary
79.768.170-9	Soquimich Comercial S.A.	Chile	Dollar	Subsidiary
79.626.800-K	SQM Salar S.A.	Chile	Dollar	Subsidiary
76.534.490-5	Sociedad Prestadora de Servicios de Salud Cruz del Norte S.A.	Chile	Peso	Subsidiary
76.425.380-9	Exploraciones Mineras S.A.	Chile	Dollar	Subsidiary
76.064.419-6	Comercial Agrorama Ltda.	Chile	Peso	Subsidiary
76.145.229-0	Agrorama S.A.	Chile	Peso	Subsidiary
76.359.919-1	Orcoma Estudios SPA	Chile	Dollar	Subsidiary
76.360.575-2	Orcoma SPA	Chile	Dollar	Subsidiary
76.686.311-9	SQM MaG SpA	Chile	Dollar	Subsidiary
77.114.779-8	Sociedad Contractual Minera Bufalo	Chile	Dollar	Subsidiary
Foreign	Abu Dhabi Fertilizer Industries WWL	United Arab Emirates	Arab Emirates dirham	Associate
Foreign	Ajay North America	United States	Dollar	Associate
Foreign	Ajay Europe SARL	France	Euro	Associate
Foreign	Kore Potash PLC	United Kingdom	Dollar	Associate
Foreign	SQM Vitas Fzco.	United Arab Emirates	Arab Emirates dirham	Joint venture
Foreign	Covalent Lithium Pty Ltd.	Australia	Dollar	Joint venture
Foreign	Pavoni & C, SPA	Italy	Euro	Joint venture
96.511.530-7	Sociedad de Inversiones Pampa Calichera	Chile	Dollar	Other related parties
96.529.340-K	Norte Grande S.A.	Chile	Peso	Other related parties
79.049.778-9	Callegari Agrícola S.A.	Chile	Peso	Other related parties
Foreign	SQM Vitas Brasil Agroindustria (1)	Brazil	Brazilian real	Other related parties
Foreign	SQM Vitas Perú S.A.C. (1)	Peru	Dollar	Other related parties
Foreign	Abu Dhabi Fertilizer Industries WWL (2)	United Arab Emirates	United Arab Emirates dirham	Other related parties
Foreign	International Technical and Trading Agencies CO WLL (2)	United Arab Emirates	United Arab Emirates dirham	Other related parties

(1)	These Companies are subsidiaries of the joint venture SQM Vitas Fzco.

(2)	These Companies are subsidiaries of the joint venture Abu Dhabi Fertilizer Industries WWL Ltda. and therefore it consolidates them and presents all their assets and liabilities.

(3)	This company was liquidated in December 2022.

The following entity was considered related party as of December 31, 2021: Sichuan SQM Migao Chemical Fertilizers Co Ltd. The following entities were considered related parties as of December 31, 2020 (see Note 7.3 letter c and Note 8.4 letter b): SQI Corporation N.V., SQM Italia SRL, Doktor Tarsa Tarim, SQM Eastmed Turkey, Terra Tarsa Ukraine LLC, Terra Tarsa B.V., Plantacote N.V., Terra Tarsa Don LLC, Doktolab Tarim Arastirma San., Doctochem Tarim Sanayi Ticaret Ltd. STI, Coromandel SQM India Sichuan SQM Migao Chemical Fertilizers Co Ltd. and Arpa Speciali S.R.L.

The following other related parties correspond to mining contractual corporations.


Tax ID No.	Name	Country of origin	Functional currency	Relationship
N/A	Ara Dos Primera del Salar de Pampa Blanca, Sierra Gorda	Chile	Peso	Other related parties
N/A	Ara Tres Primera del Salar de Pampa Blanca, Sierra Gorda	Chile	Peso	Other related parties
N/A	Ara Cuatro Primera del Salar de Pampa Blanca, Sierra Gorda	Chile	Peso	Other related parties
N/A	Ara Cinco Primera del Salar de Pampa Blanca, Sierra Gorda	Chile	Peso	Other related parties
N/A	Curicó Dos Primera del Salar de Pampa Alta, Sierra Gorda	Chile	Peso	Other related parties
N/A	Curicó Tres Primera del Sector de Pampa Alta, Sierra Gorda	Chile	Peso	Other related parties
N/A	Evelyn Veinticuatro Primera de Sierra Gorda	Chile	Peso	Other related parties
N/A	Filomena Tres Primera de Oficina Filomena, Sierra Gorda	Chile	Peso	Other related parties
N/A	Filomena Cuatro Primera de Oficina Filomena, Sierra Gorda	Chile	Peso	Other related parties
N/A	Francis Cuatro Primera de Pampa Blanca, Sierra Gorda	Chile	Peso	Other related parties
N/A	Francis Cuatro Segunda del Salar de Pampa Blanca, Sierra Gorda	Chile	Peso	Other related parties
N/A	Francis Cuatro Tercera de Pampa Blanca, Sierra Gorda	Chile	Peso	Other related parties
N/A	Francis Cuatro Cuarta de Pampa Blanca, Sierra Gorda	Chile	Peso	Other related parties
N/A	Francis Cuatro Quinta de Pampa Blanca, Sierra Gorda	Chile	Peso	Other related parties
N/A	Francis Primera del Salar de Pampa Blanca de Sierra Gorda	Chile	Peso	Other related parties
N/A	Francis Segunda del Salar de Pampa Blanca de Sierra Gorda	Chile	Peso	Other related parties
N/A	Francis Tercera del Salar de Pampa Blanca de Sierra Gorda	Chile	Peso	Other related parties
N/A	Ivon Primera de Sierra Gorda	Chile	Peso	Other related parties
N/A	Ivon Décima Segunda de Sierra Gorda	Chile	Peso	Other related parties
N/A	Ivon Sexta de Sierra Gorda	Chile	Peso	Other related parties
N/A	Julia Primera de Sierra Gorda	Chile	Peso	Other related parties
N/A	Lorena Trigésimo Quinta de Sierra Gorda	Chile	Peso	Other related parties
N/A	Perseverancia Primera de Sierra Gorda	Chile	Peso	Other related parties
N/A	Tamara 40 Primera del Sector S.E. OF. Concepción, Sierra Gorda	Chile	Peso	Other related parties
N/A	Tamara Tercera de Oficina Concepción, Sierra Gorda	Chile	Peso	Other related parties
N/A	Tamara 4 Segunda del Sector S.E. OF Concepción, Sierra Gorda	Chile	Peso	Other related parties

Below is a list of transactions with clients and suppliers with whom a relationship with key Company personnel was identified:


Tax ID No	Name	Country of origin	Nature
76.389.727-3	Sociedad Periodística El Libero	Chile	Other related parties
90.193.000-7	El Mercurio S.A.P.	Chile	Other related parties
92.580.000-7	Empresa Nacional de Telecomunicaciones S.A.	Chile	Other related parties
96.806.980-2	Entel PCS Telecomunicaciones S.A.	Chile	Other related parties
97.004.000-5	Banco de Chile	Chile	Other related parties
99.012.000-5	Compañía de Seguros de Vida Consorcio Nacional	Chile	Other related parties
10.581.580-8	Gonzalo Guerrero Yamamoto	Chile	Other related parties
96.529.340-K	Norte Grande S.A.	Chile	Other related parties
65.204.189-2	Fundación para el desarrollo social	Chile	Other related parties
82.135.600-8	Instituto Chileno administración empresas	Chile	Other related parties

11.4Detail of related parties and related party transactions

Transactions between the Company and its subsidiaries, associated businesses, joint ventures and other related parties are part of the Company’s common transactions. Their conditions are those customary for this type of transactions in respect of terms and market prices. Maturity terms for each case vary by virtue of the transaction giving rise to them.

For the year ended December 31, 2022, 2021 and 2020, the detail of significant transactions with related parties is as follows

For the year ended

December

Tax ID No

Name

Nature

Country of origin

Transaction

31, 2022

31, 2021

31, 2020

ThUS$

Foreign

Doktor Tarsa Tarim Sanayi AS

Associate

Turkey

Sale of products

—

1,053

Foreign

Ajay Europe S.A.R.L.

Associate

France

Sale of products

45,205

35,597

23,162

Foreign

Ajay Europe S.A.R.L.

Associate

France

Dividends

1,778

992

1,197

Foreign

Ajay North America LL.C.

Associate

United States

Sale of products

41,814

27,763

20,259

Foreign

Ajay North America LL.C.

Associate

United States

Dividends

1,576

1,233

1,967

Foreign

Abu Dhabi Fertilizer Industries WWL

Associate

United Arab Emirates

Dividends

3,000

9,438

—

Foreign

Abu Dhabi Fertilizer Industries WWL

Associate

United Arab Emirates

Sale of products

—

Foreign

SQM Vitas Brasil Agroindustria

Other related parties

Brazil

Sale of products

51,748

79,086

41,341

Foreign

SQM Vitas Perú S.A.C.

Other related parties

Perú

Sale of products

58,077

17,016

17,723

Foreign

Coromandel SQM India

Joint venture

India

Sale of products

—

1,814

1,510

Foreign

SQM Star Qingdao Corp Nutrition Co., Ltd.

Joint venture

China

Dividends

—

2,223

Foreign

SQM Star Qingdao Corp Nutrition Co., Ltd.

Joint venture

China

Sale of products

—

Foreign

Terra Tarsa Ukraine LLC

Other related parties

Ukraine

Sale of products

—

737

Foreign

Pavoni & CPA

Joint venture

Italy

Sale of products

4,138

5,359

1,125

Foreign

Plantacote NV

Other related parties

Belgium

Sale of products

—

Foreign

Arpa Speciali S.R.L.

Other related parties

Italy

Sale of products

—

Foreign

Terra Tarsa Don LLC

Other related parties

Russian Federation

Sale of products

—

Foreign

SQM Eastmed Turkey

Associate

Turkey

Sale of products

—

Chile

Banco de Chile

Other related parties

Chile

Service Provider

(27,918)

(20,904)

—

Chile

Norte Grande S.A.

Other related parties

Chile

Client

142

146

—

Chile

El Mercurio S.A.P.

Other related parties

Chile

Service Provider

(90)

(131)

—

Chile

Compañía de Seguros de Vida Consorcio Nacional

Other related parties

Chile

Service Provider

(31)

(134)

—

Chile

Entel PCS Telecomunicaciones S.A.

Other related parties

Chile

Service Provider

(228)

(157)

—

Chile

Empresa Nacional de Telecomunicaciones

Other related parties

Chile

Service Provider

(1,746)

(2,393)

—

Chile

Gonzalo Guerrero Yamamoto

Other related parties

Chile

Service Provider

(19)

(79)

—

Chile

Instituto Chileno administración empresas

Other related parties

Chile

Service Provider

(46)

—

Chile

Fundación para el desarrollo social

Other related parties

Chile

Service Provider

(7)

—

11.5Trade receivables due from related parties, current:

As of

December 31,

Tax ID No

Name

Nature

Country of origin

Currency

2022

2021

ThUS$

Foreign

Ajay Europe S.A. R.L.

Associate

France

Euro

7,967

7,567

Foreign

Ajay North America LLC.

Associate

United States of America

Dollar

8,354

3,350

Foreign

Abu Dhabi Fertilizer Industries WWL

Associate

United Arab Emirates

United Arab Emirates Dirham

—

2,477

96.511.530-7

Soc. de Inversiones Pampa Calichera

Other related parties

Chile

Dollar

Foreign

SQM Vitas Brasil Agroindustria

Other related parties

Brazil

Dollar

32,054

55,119

Foreign

SQM Vitas Perú S.A.C.

Other related parties

Peru

Dollar

31,081

14,684

Foreign

SQM Vitas Fzco.

Joint venture

United Arab Emirates

United Arab Emirates Dirham

232

Foreign

Pavoni & C SpA

Joint venture

Italy

Euro

888

804

Foreign

Covalent Lithium Pty Ltd.

Joint venture

Australia

Australian dollar

1,041

1,914

Total

81,622

86,152

As of December 31, 2022 and 2021, receivables are net of provision for ThUS$ 1,378 and ThUS$ 717, respectively.

11.6Other disclosures:

Note 6 describes the remuneration of the board of directors, administration and key management personnel.

Income tax and deferred taxes - Current and Deferred Tax (Expenses) Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Current income tax (expense) benefit
Current tax expense	$ (2,002,564)	$ (279,105)	$ (97,374)
Adjustments to prior year current income tax (expense) benefit	(626)	2,326	(1,901)
Current income tax expense, net, total	(2,003,190)	(276,779)	(99,275)
Deferred tax (expense) benefit
Deferred tax benefits relating to the creation and reversal of temporary differences	427,680	28,445	26,219
Tax adjustments related to the creation and reversal of temporary differences from the previous year	3,298	(682)	2,877
Total deferred tax benefits, net	430,978	27,763	29,096
Income tax expense	$ (1,572,212)	$ (249,016)	$ (70,179)

- Definition

The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax. [Refer: Current tax expense (income); Deferred tax expense (income)]

+ References + Details

Financial instruments - Fair Value Measurement of Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Financial instruments [Line Items]
Total financial liabilities	$ 4,854,740	$ 4,518,600
Level 1 of fair value hierarchy \| Bank borrowings
Financial instruments [Line Items]
Total financial liabilities	0	0
Level 1 of fair value hierarchy \| Forwards
Financial instruments [Line Items]
Total financial liabilities	0	0
Level 1 of fair value hierarchy \| Options
Financial instruments [Line Items]
Total financial liabilities	0	0
Level 1 of fair value hierarchy \| Hedging liabilities - Swaps
Financial instruments [Line Items]
Total financial liabilities	0
Level 1 of fair value hierarchy \| Swaps hedges, investments
Financial instruments [Line Items]
Total financial liabilities	0	0
Level 1 of fair value hierarchy \| Swaps
Financial instruments [Line Items]
Total financial liabilities		0
Level 1 of fair value hierarchy \| Unsecured obligations
Financial instruments [Line Items]
Total financial liabilities	0	0
Level 1 of fair value hierarchy \| Bank borrowings
Financial instruments [Line Items]
Total financial liabilities	0	0
Level 1 of fair value hierarchy \| Unsecured obligations
Financial instruments [Line Items]
Total financial liabilities	0	0
Level 1 of fair value hierarchy \| Non-current hedging liabilities
Financial instruments [Line Items]
Total financial liabilities	0	0
Level 2 of fair value hierarchy \| Bank borrowings
Financial instruments [Line Items]
Total financial liabilities	130,840	85
Level 2 of fair value hierarchy \| Forwards
Financial instruments [Line Items]
Total financial liabilities	4,848	1,270
Level 2 of fair value hierarchy \| Options
Financial instruments [Line Items]
Total financial liabilities	968	402
Level 2 of fair value hierarchy \| Hedging liabilities - Swaps
Financial instruments [Line Items]
Total financial liabilities	42,754
Level 2 of fair value hierarchy \| Swaps hedges, investments
Financial instruments [Line Items]
Total financial liabilities	0	0
Level 2 of fair value hierarchy \| Swaps
Financial instruments [Line Items]
Total financial liabilities		8,954
Level 2 of fair value hierarchy \| Unsecured obligations
Financial instruments [Line Items]
Total financial liabilities	343,589	40,594
Level 2 of fair value hierarchy \| Bank borrowings
Financial instruments [Line Items]
Total financial liabilities	196,598	70,497
Level 2 of fair value hierarchy \| Unsecured obligations
Financial instruments [Line Items]
Total financial liabilities	2,476,924	2,871,005
Level 2 of fair value hierarchy \| Non-current hedging liabilities
Financial instruments [Line Items]
Total financial liabilities	19,772	72,900
Level 3 of fair value hierarchy \| Bank borrowings
Financial instruments [Line Items]
Total financial liabilities	0	0
Level 3 of fair value hierarchy \| Forwards
Financial instruments [Line Items]
Total financial liabilities	0	0
Level 3 of fair value hierarchy \| Options
Financial instruments [Line Items]
Total financial liabilities	0	0
Level 3 of fair value hierarchy \| Hedging liabilities - Swaps
Financial instruments [Line Items]
Total financial liabilities	0
Level 3 of fair value hierarchy \| Swaps hedges, investments
Financial instruments [Line Items]
Total financial liabilities	0	0
Level 3 of fair value hierarchy \| Swaps
Financial instruments [Line Items]
Total financial liabilities		0
Level 3 of fair value hierarchy \| Unsecured obligations
Financial instruments [Line Items]
Total financial liabilities	0	0
Level 3 of fair value hierarchy \| Bank borrowings
Financial instruments [Line Items]
Total financial liabilities	0	0
Level 3 of fair value hierarchy \| Unsecured obligations
Financial instruments [Line Items]
Total financial liabilities	0	0
Level 3 of fair value hierarchy \| Non-current hedging liabilities
Financial instruments [Line Items]
Total financial liabilities	0	0
Fair value Informative \| Bank borrowings
Financial instruments [Line Items]
Total financial liabilities	130,840	85
Fair value Informative \| Forwards
Financial instruments [Line Items]
Total financial liabilities	0	0
Fair value Informative \| Options
Financial instruments [Line Items]
Total financial liabilities	0	0
Fair value Informative \| Hedging liabilities - Swaps
Financial instruments [Line Items]
Total financial liabilities	0
Fair value Informative \| Swaps hedges, investments
Financial instruments [Line Items]
Total financial liabilities	0	0
Fair value Informative \| Swaps
Financial instruments [Line Items]
Total financial liabilities		0
Fair value Informative \| Unsecured obligations
Financial instruments [Line Items]
Total financial liabilities	343,589	40,594
Fair value Informative \| Bank borrowings
Financial instruments [Line Items]
Total financial liabilities	196,598	70,497
Fair value Informative \| Unsecured obligations
Financial instruments [Line Items]
Total financial liabilities	2,476,924	2,871,005
Fair value Informative \| Non-current hedging liabilities
Financial instruments [Line Items]
Total financial liabilities	0	0
Fair Value \| Bank borrowings
Financial instruments [Line Items]
Total financial liabilities	0	0
Fair Value \| Forwards
Financial instruments [Line Items]
Total financial liabilities	4,848	1,270
Fair Value \| Options
Financial instruments [Line Items]
Total financial liabilities	968	402
Fair Value \| Hedging liabilities - Swaps
Financial instruments [Line Items]
Total financial liabilities	42,754
Fair Value \| Swaps hedges, investments
Financial instruments [Line Items]
Total financial liabilities	0	0
Fair Value \| Swaps
Financial instruments [Line Items]
Total financial liabilities		8,954
Fair Value \| Unsecured obligations
Financial instruments [Line Items]
Total financial liabilities	0	0
Fair Value \| Bank borrowings
Financial instruments [Line Items]
Total financial liabilities	0	0
Fair Value \| Unsecured obligations
Financial instruments [Line Items]
Total financial liabilities	0	0
Fair Value \| Non-current hedging liabilities
Financial instruments [Line Items]
Total financial liabilities	19,772	72,900
Gross carrying amount
Financial instruments [Line Items]
Total financial liabilities	3,386,270	3,009,510
Gross carrying amount \| Bank borrowings
Financial instruments [Line Items]
Total financial liabilities	130,840	85
Gross carrying amount \| Forwards
Financial instruments [Line Items]
Total financial liabilities	0	0
Gross carrying amount \| Options
Financial instruments [Line Items]
Total financial liabilities	0	0
Gross carrying amount \| Hedging liabilities - Swaps
Financial instruments [Line Items]
Total financial liabilities	0
Gross carrying amount \| Swaps hedges, investments
Financial instruments [Line Items]
Total financial liabilities	0	0
Gross carrying amount \| Swaps
Financial instruments [Line Items]
Total financial liabilities		0
Gross carrying amount \| Unsecured obligations
Financial instruments [Line Items]
Total financial liabilities	343,589	40,594
Gross carrying amount \| Bank borrowings
Financial instruments [Line Items]
Total financial liabilities	197,522	69,613
Gross carrying amount \| Unsecured obligations
Financial instruments [Line Items]
Total financial liabilities	2,176,924	2,445,219
Gross carrying amount \| Non-current hedging liabilities
Financial instruments [Line Items]
Total financial liabilities	0	0
Cash and cash equivalents \| Level 1 of fair value hierarchy
Financial instruments [Line Items]
Total financial assets	2,655,236	0
Cash and cash equivalents \| Level 2 of fair value hierarchy
Financial instruments [Line Items]
Total financial assets	0	1,515,051
Cash and cash equivalents \| Level 3 of fair value hierarchy
Financial instruments [Line Items]
Total financial assets	0	0
Cash and cash equivalents \| Fair value Informative
Financial instruments [Line Items]
Total financial assets	2,655,236	1,515,051
Cash and cash equivalents \| Fair Value
Financial instruments [Line Items]
Total financial assets	0	0
Cash and cash equivalents \| Gross carrying amount
Financial instruments [Line Items]
Total financial assets	2,655,236	1,515,051
Time deposits \| Level 1 of fair value hierarchy
Financial instruments [Line Items]
Total financial assets	0	0
Time deposits \| Level 2 of fair value hierarchy
Financial instruments [Line Items]
Total financial assets	950,167	905,170
Time deposits \| Level 3 of fair value hierarchy
Financial instruments [Line Items]
Total financial assets	0	0
Time deposits \| Fair value Informative
Financial instruments [Line Items]
Total financial assets	950,167	905,170
Time deposits \| Fair Value
Financial instruments [Line Items]
Total financial assets	0	0
Time deposits \| Gross carrying amount
Financial instruments [Line Items]
Total financial assets	950,167	905,170
Derivative financial instruments \| Level 1 of fair value hierarchy
Financial instruments [Line Items]
Total financial assets	0
Derivative financial instruments \| Level 2 of fair value hierarchy
Financial instruments [Line Items]
Total financial assets	0
Derivative financial instruments \| Level 3 of fair value hierarchy
Financial instruments [Line Items]
Total financial assets	0
Derivative financial instruments \| Fair value Informative
Financial instruments [Line Items]
Total financial assets	0
Derivative financial instruments \| Fair Value
Financial instruments [Line Items]
Total financial assets	0
Derivative financial instruments \| Gross carrying amount
Financial instruments [Line Items]
Total financial assets	0
Forwards \| Level 1 of fair value hierarchy
Financial instruments [Line Items]
Total financial assets	0	0
Forwards \| Level 2 of fair value hierarchy
Financial instruments [Line Items]
Total financial assets	3,704	1,031
Forwards \| Level 3 of fair value hierarchy
Financial instruments [Line Items]
Total financial assets	0	0
Forwards \| Fair value Informative
Financial instruments [Line Items]
Total financial assets	0	0
Forwards \| Fair Value
Financial instruments [Line Items]
Total financial assets	3,704	1,031
Forwards \| Gross carrying amount
Financial instruments [Line Items]
Total financial assets	0	0
Options \| Level 1 of fair value hierarchy
Financial instruments [Line Items]
Total financial assets	0	0
Options \| Level 2 of fair value hierarchy
Financial instruments [Line Items]
Total financial assets	470	223
Options \| Level 3 of fair value hierarchy
Financial instruments [Line Items]
Total financial assets	0	0
Options \| Fair value Informative
Financial instruments [Line Items]
Total financial assets	0	0
Options \| Fair Value
Financial instruments [Line Items]
Total financial assets	470	223
Options \| Gross carrying amount
Financial instruments [Line Items]
Total financial assets	0	0
Hedging assets \| Level 1 of fair value hierarchy
Financial instruments [Line Items]
Total financial assets	0	0
Total financial liabilities		0
Hedging assets \| Level 2 of fair value hierarchy
Financial instruments [Line Items]
Total financial assets	7,014	0
Total financial liabilities		0
Hedging assets \| Level 3 of fair value hierarchy
Financial instruments [Line Items]
Total financial assets	0	0
Total financial liabilities		0
Hedging assets \| Fair value Informative
Financial instruments [Line Items]
Total financial assets	0	0
Total financial liabilities		0
Hedging assets \| Fair Value
Financial instruments [Line Items]
Total financial assets	7,014	0
Total financial liabilities		0
Hedging assets \| Gross carrying amount
Financial instruments [Line Items]
Total financial assets	0	0
Total financial liabilities		0
Hedging liabilities - Swaps \| Level 1 of fair value hierarchy
Financial instruments [Line Items]
Total financial assets	22,606
Hedging liabilities - Swaps \| Level 2 of fair value hierarchy
Financial instruments [Line Items]
Total financial assets	0
Hedging liabilities - Swaps \| Level 3 of fair value hierarchy
Financial instruments [Line Items]
Total financial assets	0
Hedging liabilities - Swaps \| Fair value Informative
Financial instruments [Line Items]
Total financial assets	0
Hedging liabilities - Swaps \| Fair Value
Financial instruments [Line Items]
Total financial assets	22,606
Hedging liabilities - Swaps \| Gross carrying amount
Financial instruments [Line Items]
Total financial assets	0
Swaps \| Level 1 of fair value hierarchy
Financial instruments [Line Items]
Total financial assets	0	0
Swaps \| Level 2 of fair value hierarchy
Financial instruments [Line Items]
Total financial assets	0	12,625
Swaps \| Level 3 of fair value hierarchy
Financial instruments [Line Items]
Total financial assets	0	0
Swaps \| Fair value Informative
Financial instruments [Line Items]
Total financial assets	0	0
Swaps \| Fair Value
Financial instruments [Line Items]
Total financial assets	0	12,625
Swaps \| Gross carrying amount
Financial instruments [Line Items]
Total financial assets	0	0
Non-current accounts receivable \| Level 1 of fair value hierarchy
Financial instruments [Line Items]
Total financial assets	0	0
Non-current accounts receivable \| Level 2 of fair value hierarchy
Financial instruments [Line Items]
Total financial assets	0	0
Non-current accounts receivable \| Level 3 of fair value hierarchy
Financial instruments [Line Items]
Total financial assets	0	0
Non-current accounts receivable \| Fair value Informative
Financial instruments [Line Items]
Total financial assets	2,091	6,172
Non-current accounts receivable \| Fair Value
Financial instruments [Line Items]
Total financial assets	0	0
Non-current accounts receivable \| Gross carrying amount
Financial instruments [Line Items]
Total financial assets	2,091	6,172
Others \| Level 1 of fair value hierarchy
Financial instruments [Line Items]
Total financial assets	0	0
Others \| Level 2 of fair value hierarchy
Financial instruments [Line Items]
Total financial assets	23	91
Others \| Level 3 of fair value hierarchy
Financial instruments [Line Items]
Total financial assets	0	0
Others \| Fair value Informative
Financial instruments [Line Items]
Total financial assets	23	91
Others \| Fair Value
Financial instruments [Line Items]
Total financial assets	0	0
Others \| Gross carrying amount
Financial instruments [Line Items]
Total financial assets	23	91
Equity instruments \| Level 1 of fair value hierarchy
Financial instruments [Line Items]
Total financial assets	9,497	9,177
Equity instruments \| Level 2 of fair value hierarchy
Financial instruments [Line Items]
Total financial assets	0	0
Equity instruments \| Level 3 of fair value hierarchy
Financial instruments [Line Items]
Total financial assets	0	0
Equity instruments \| Fair value Informative
Financial instruments [Line Items]
Total financial assets	0	0
Equity instruments \| Fair Value
Financial instruments [Line Items]
Total financial assets	9,497	9,177
Equity instruments \| Gross carrying amount
Financial instruments [Line Items]
Total financial assets	$ 0	$ 0

Identification and activities of the Company and Subsidiaries - Main Shareholders of the Company (Details) - shares	Dec. 31, 2022	Dec. 31, 2021
The Bank of New York Mellon, ADRs
Identification and Activities of the Company and Subsidiaries [Line Items]
Number of shares outstanding, ownership percentage	22.60%	23.67%
Inversiones TLC SpA
Identification and Activities of the Company and Subsidiaries [Line Items]
Number of shares outstanding, ownership percentage	21.90%	21.90%
Sociedad de Inversiones Pampa Calichera S.A.
Identification and Activities of the Company and Subsidiaries [Line Items]
Number of shares outstanding, ownership percentage	15.66%	15.75%
Potasios de Chile S.A.
Identification and Activities of the Company and Subsidiaries [Line Items]
Number of shares outstanding, ownership percentage	6.36%	6.36%
Banco de Chile via State Street
Identification and Activities of the Company and Subsidiaries [Line Items]
Number of shares outstanding, ownership percentage	3.87%	3.22%
AFP Habitat S.A. for Pension Fund C
Identification and Activities of the Company and Subsidiaries [Line Items]
Number of shares outstanding, ownership percentage	3.33%	1.02%
Inversiones Global Mining (Chile) Limitada
Identification and Activities of the Company and Subsidiaries [Line Items]
Number of shares outstanding, ownership percentage	3.08%	3.08%
Banco Santander via foreign investor accounts
Identification and Activities of the Company and Subsidiaries [Line Items]
Number of shares outstanding, ownership percentage	3.06%	3.10%
AFP Cuprum S.A.
Identification and Activities of the Company and Subsidiaries [Line Items]
Number of shares outstanding, ownership percentage	2.29%
Banco de Chile non-resident third party accounts
Identification and Activities of the Company and Subsidiaries [Line Items]
Number of shares outstanding, ownership percentage	2.19%	2.78%
AF Capital S.A.
Identification and Activities of the Company and Subsidiaries [Line Items]
Number of shares outstanding, ownership percentage	1.98%
AFP Provida S.A.
Identification and Activities of the Company and Subsidiaries [Line Items]
Number of shares outstanding, ownership percentage	1.84%
Inversiones la Esperanza de Chile Limitada
Identification and Activities of the Company and Subsidiaries [Line Items]
Number of shares outstanding, ownership percentage		1.49%
Larrain Vial S.A. Corredora de Bolsa
Identification and Activities of the Company and Subsidiaries [Line Items]
Number of shares outstanding, ownership percentage		1.32%
Bolsa De Comercio De Santiago Bolsa De Valores
Identification and Activities of the Company and Subsidiaries [Line Items]
Number of shares outstanding, ownership percentage		1.70%
Series A stock \| The Bank of New York Mellon, ADRs
Identification and Activities of the Company and Subsidiaries [Line Items]
Number of shares outstanding	0	0
Number of shares outstanding, ownership percentage	0.00%	0.00%
Series A stock \| Inversiones TLC SpA
Identification and Activities of the Company and Subsidiaries [Line Items]
Number of shares outstanding	62,556,568	62,556,568
Number of shares outstanding, ownership percentage	43.80%	43.80%
Series A stock \| Sociedad de Inversiones Pampa Calichera S.A.
Identification and Activities of the Company and Subsidiaries [Line Items]
Number of shares outstanding	43,133,789	44,989,231
Number of shares outstanding, ownership percentage	30.20%	31.50%
Series A stock \| Potasios de Chile S.A.
Identification and Activities of the Company and Subsidiaries [Line Items]
Number of shares outstanding	18,179,147	18,179,147
Number of shares outstanding, ownership percentage	12.73%	12.73%
Series A stock \| Banco de Chile via State Street
Identification and Activities of the Company and Subsidiaries [Line Items]
Number of shares outstanding	79,265	23,428
Number of shares outstanding, ownership percentage	0.06%	0.02%
Series A stock \| AFP Habitat S.A. for Pension Fund C
Identification and Activities of the Company and Subsidiaries [Line Items]
Number of shares outstanding	0	0
Number of shares outstanding, ownership percentage	0.00%	0.00%
Series A stock \| Inversiones Global Mining (Chile) Limitada
Identification and Activities of the Company and Subsidiaries [Line Items]
Number of shares outstanding	8,798,539	8,798,539
Number of shares outstanding, ownership percentage	6.16%	6.16%
Series A stock \| Banco Santander via foreign investor accounts
Identification and Activities of the Company and Subsidiaries [Line Items]
Number of shares outstanding	545,729	0
Number of shares outstanding, ownership percentage	0.38%	0.00%
Series A stock \| AFP Cuprum S.A.
Identification and Activities of the Company and Subsidiaries [Line Items]
Number of shares outstanding	0
Number of shares outstanding, ownership percentage	0.00%
Series A stock \| Banco de Chile non-resident third party accounts
Identification and Activities of the Company and Subsidiaries [Line Items]
Number of shares outstanding	62,829	445
Number of shares outstanding, ownership percentage	0.04%	0.00%
Series A stock \| AF Capital S.A.
Identification and Activities of the Company and Subsidiaries [Line Items]
Number of shares outstanding	0
Number of shares outstanding, ownership percentage	0.00%
Series A stock \| AFP Provida S.A.
Identification and Activities of the Company and Subsidiaries [Line Items]
Number of shares outstanding	0
Number of shares outstanding, ownership percentage	0.00%
Series A stock \| Inversiones la Esperanza de Chile Limitada
Identification and Activities of the Company and Subsidiaries [Line Items]
Number of shares outstanding		4,246,226
Number of shares outstanding, ownership percentage		2.97%
Series A stock \| Larrain Vial S.A. Corredora de Bolsa
Identification and Activities of the Company and Subsidiaries [Line Items]
Number of shares outstanding		125,726
Number of shares outstanding, ownership percentage		0.09%
Series A stock \| Bolsa De Comercio De Santiago Bolsa De Valores
Identification and Activities of the Company and Subsidiaries [Line Items]
Number of shares outstanding		67,463
Number of shares outstanding, ownership percentage		0.05%
Series B stock \| The Bank of New York Mellon, ADRs
Identification and Activities of the Company and Subsidiaries [Line Items]
Number of shares outstanding	64,555,045	67,603,420
Number of shares outstanding, ownership percentage	45.20%	47.34%
Series B stock \| Inversiones TLC SpA
Identification and Activities of the Company and Subsidiaries [Line Items]
Number of shares outstanding	0	0
Number of shares outstanding, ownership percentage	0.00%	0.00%
Series B stock \| Sociedad de Inversiones Pampa Calichera S.A.
Identification and Activities of the Company and Subsidiaries [Line Items]
Number of shares outstanding	1,611,227	0
Number of shares outstanding, ownership percentage	1.13%	0.00%
Series B stock \| Potasios de Chile S.A.
Identification and Activities of the Company and Subsidiaries [Line Items]
Number of shares outstanding	0	0
Number of shares outstanding, ownership percentage	0.00%	0.00%
Series B stock \| Banco de Chile via State Street
Identification and Activities of the Company and Subsidiaries [Line Items]
Number of shares outstanding	10,979,388	9,178,379
Number of shares outstanding, ownership percentage	7.69%	6.43%
Series B stock \| AFP Habitat S.A. for Pension Fund C
Identification and Activities of the Company and Subsidiaries [Line Items]
Number of shares outstanding	9,504,885	2,914,292
Number of shares outstanding, ownership percentage	6.66%	2.04%
Series B stock \| Inversiones Global Mining (Chile) Limitada
Identification and Activities of the Company and Subsidiaries [Line Items]
Number of shares outstanding	0	0
Number of shares outstanding, ownership percentage	0.00%	0.00%
Series B stock \| Banco Santander via foreign investor accounts
Identification and Activities of the Company and Subsidiaries [Line Items]
Number of shares outstanding	8,181,775	8,856,091
Number of shares outstanding, ownership percentage	5.73%	6.20%
Series B stock \| AFP Cuprum S.A.
Identification and Activities of the Company and Subsidiaries [Line Items]
Number of shares outstanding	6,535,039
Number of shares outstanding, ownership percentage	4.58%
Series B stock \| Banco de Chile non-resident third party accounts
Identification and Activities of the Company and Subsidiaries [Line Items]
Number of shares outstanding	6,181,476	7,939,865
Number of shares outstanding, ownership percentage	4.33%	5.56%
Series B stock \| AF Capital S.A.
Identification and Activities of the Company and Subsidiaries [Line Items]
Number of shares outstanding	5,652,982
Number of shares outstanding, ownership percentage	3.96%
Series B stock \| AFP Provida S.A.
Identification and Activities of the Company and Subsidiaries [Line Items]
Number of shares outstanding	5,263,361
Number of shares outstanding, ownership percentage	3.69%
Series B stock \| Inversiones la Esperanza de Chile Limitada
Identification and Activities of the Company and Subsidiaries [Line Items]
Number of shares outstanding		0
Number of shares outstanding, ownership percentage		0.00%
Series B stock \| Larrain Vial S.A. Corredora de Bolsa
Identification and Activities of the Company and Subsidiaries [Line Items]
Number of shares outstanding		3,653,614
Number of shares outstanding, ownership percentage		2.56%
Series B stock \| Bolsa De Comercio De Santiago Bolsa De Valores
Identification and Activities of the Company and Subsidiaries [Line Items]
Number of shares outstanding		4,795,310
Number of shares outstanding, ownership percentage		3.36%

Financial instruments - Suppliers Past Due on Payments (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Financial instruments [Line Items]
Suppliers past due on payments	$ 5,009	$ 15,141
Goods
Financial instruments [Line Items]
Suppliers past due on payments	2,880	7,761
Services
Financial instruments [Line Items]
Suppliers past due on payments	1,939	4,911
Others
Financial instruments [Line Items]
Suppliers past due on payments	190	2,469
Up to 30 Days
Financial instruments [Line Items]
Suppliers past due on payments	2,978	14,083
Up to 30 Days \| Goods
Financial instruments [Line Items]
Suppliers past due on payments	1,294	7,688
Up to 30 Days \| Services
Financial instruments [Line Items]
Suppliers past due on payments	1,548	4,055
Up to 30 Days \| Others
Financial instruments [Line Items]
Suppliers past due on payments	136	2,340
31 - 60 days
Financial instruments [Line Items]
Suppliers past due on payments	336	154
31 - 60 days \| Goods
Financial instruments [Line Items]
Suppliers past due on payments	135	30
31 - 60 days \| Services
Financial instruments [Line Items]
Suppliers past due on payments	174	108
31 - 60 days \| Others
Financial instruments [Line Items]
Suppliers past due on payments	27	16
61 - 90 Days
Financial instruments [Line Items]
Suppliers past due on payments	84	611
61 - 90 Days \| Goods
Financial instruments [Line Items]
Suppliers past due on payments	64	5
61 - 90 Days \| Services
Financial instruments [Line Items]
Suppliers past due on payments	20	533
61 - 90 Days \| Others
Financial instruments [Line Items]
Suppliers past due on payments		73
91 - 120 days
Financial instruments [Line Items]
Suppliers past due on payments	25	70
91 - 120 days \| Goods
Financial instruments [Line Items]
Suppliers past due on payments	24	1
91 - 120 days \| Services
Financial instruments [Line Items]
Suppliers past due on payments	1	34
91 - 120 days \| Others
Financial instruments [Line Items]
Suppliers past due on payments		35
121 - 365 days
Financial instruments [Line Items]
Suppliers past due on payments	1,586	223
121 - 365 days \| Goods
Financial instruments [Line Items]
Suppliers past due on payments	1,363	37
121 - 365 days \| Services
Financial instruments [Line Items]
Suppliers past due on payments	196	181
121 - 365 days \| Others
Financial instruments [Line Items]
Suppliers past due on payments	27	5
366 and more days
Financial instruments [Line Items]
Suppliers past due on payments	0	0
366 and more days \| Goods
Financial instruments [Line Items]
Suppliers past due on payments	0	0
366 and more days \| Services
Financial instruments [Line Items]
Suppliers past due on payments	0	0
366 and more days \| Others
Financial instruments [Line Items]
Suppliers past due on payments	$ 0	$ 0

Significant accounting policies - Useful Lives of Property, Plant and Equipment (Details)	12 Months Ended
	Dec. 31, 2022
Minimum \| Mining assets
Significant accounting policies [Line Items]
Useful life measured as period of time, property, plant and equipment	3 years
Minimum \| Energy generating assets
Significant accounting policies [Line Items]
Useful life measured as period of time, property, plant and equipment	5 years
Minimum \| Buildings
Significant accounting policies [Line Items]
Useful life measured as period of time, property, plant and equipment	3 years
Minimum \| Supplies and accessories
Significant accounting policies [Line Items]
Useful life measured as period of time, property, plant and equipment	4 years
Minimum \| Office equipment
Significant accounting policies [Line Items]
Useful life measured as period of time, property, plant and equipment	5 years
Minimum \| Transport equipment
Significant accounting policies [Line Items]
Useful life measured as period of time, property, plant and equipment	8 years
Minimum \| Network and communication equipment
Significant accounting policies [Line Items]
Useful life measured as period of time, property, plant and equipment	4 years
Minimum \| IT equipment
Significant accounting policies [Line Items]
Useful life measured as period of time, property, plant and equipment	5 years
Minimum \| Machinery, plant and equipment
Significant accounting policies [Line Items]
Useful life measured as period of time, property, plant and equipment	3 years
Minimum \| Other fixed assets
Significant accounting policies [Line Items]
Useful life measured as period of time, property, plant and equipment	3 years
Maximum \| Mining assets
Significant accounting policies [Line Items]
Useful life measured as period of time, property, plant and equipment	10 years
Maximum \| Energy generating assets
Significant accounting policies [Line Items]
Useful life measured as period of time, property, plant and equipment	16 years
Maximum \| Buildings
Significant accounting policies [Line Items]
Useful life measured as period of time, property, plant and equipment	25 years
Maximum \| Supplies and accessories
Significant accounting policies [Line Items]
Useful life measured as period of time, property, plant and equipment	10 years
Maximum \| Office equipment
Significant accounting policies [Line Items]
Useful life measured as period of time, property, plant and equipment	10 years
Maximum \| Transport equipment
Significant accounting policies [Line Items]
Useful life measured as period of time, property, plant and equipment	9 years
Maximum \| Network and communication equipment
Significant accounting policies [Line Items]
Useful life measured as period of time, property, plant and equipment	12 years
Maximum \| IT equipment
Significant accounting policies [Line Items]
Useful life measured as period of time, property, plant and equipment	10 years
Maximum \| Machinery, plant and equipment
Significant accounting policies [Line Items]
Useful life measured as period of time, property, plant and equipment	25 years
Maximum \| Other fixed assets
Significant accounting policies [Line Items]
Useful life measured as period of time, property, plant and equipment	15 years
Average \| Mining assets
Significant accounting policies [Line Items]
Useful life measured as period of time, property, plant and equipment	8 years
Average \| Energy generating assets
Significant accounting policies [Line Items]
Useful life measured as period of time, property, plant and equipment	10 years
Average \| Buildings
Significant accounting policies [Line Items]
Useful life measured as period of time, property, plant and equipment	13 years
Average \| Supplies and accessories
Significant accounting policies [Line Items]
Useful life measured as period of time, property, plant and equipment	8 years
Average \| Office equipment
Significant accounting policies [Line Items]
Useful life measured as period of time, property, plant and equipment	9 years
Average \| Transport equipment
Significant accounting policies [Line Items]
Useful life measured as period of time, property, plant and equipment	9 years
Average \| Network and communication equipment
Significant accounting policies [Line Items]
Useful life measured as period of time, property, plant and equipment	8 years
Average \| IT equipment
Significant accounting policies [Line Items]
Useful life measured as period of time, property, plant and equipment	8 years
Average \| Machinery, plant and equipment
Significant accounting policies [Line Items]
Useful life measured as period of time, property, plant and equipment	10 years
Average \| Other fixed assets
Significant accounting policies [Line Items]
Useful life measured as period of time, property, plant and equipment	9 years

Financial instruments - Suppliers Current on Payments (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Financial instruments [Line Items]
Suppliers current on all payments	$ 368,342	$ 267,764
Up to 30 Days
Financial instruments [Line Items]
Suppliers current on all payments	364,932	260,083
31 - 60 days
Financial instruments [Line Items]
Suppliers current on all payments	2,056	2,134
61 - 90 Days
Financial instruments [Line Items]
Suppliers current on all payments	950	1,534
91 - 120 days
Financial instruments [Line Items]
Suppliers current on all payments	339	2
121 - 365 days
Financial instruments [Line Items]
Suppliers current on all payments	65	198
366 and more days
Financial instruments [Line Items]
Suppliers current on all payments	0	3,813
Goods
Financial instruments [Line Items]
Suppliers current on all payments	241,110	155,202
Goods \| Up to 30 Days
Financial instruments [Line Items]
Suppliers current on all payments	239,108	148,045
Goods \| 31 - 60 days
Financial instruments [Line Items]
Suppliers current on all payments	786	1,799
Goods \| 61 - 90 Days
Financial instruments [Line Items]
Suppliers current on all payments	877	1,425
Goods \| 91 - 120 days
Financial instruments [Line Items]
Suppliers current on all payments	339	0
Goods \| 121 - 365 days
Financial instruments [Line Items]
Suppliers current on all payments	0	120
Goods \| 366 and more days
Financial instruments [Line Items]
Suppliers current on all payments	0	3,813
Services
Financial instruments [Line Items]
Suppliers current on all payments	92,907	80,613
Services \| Up to 30 Days
Financial instruments [Line Items]
Suppliers current on all payments	91,499	80,089
Services \| 31 - 60 days
Financial instruments [Line Items]
Suppliers current on all payments	1,270	335
Services \| 61 - 90 Days
Financial instruments [Line Items]
Suppliers current on all payments	73	109
Services \| 91 - 120 days
Financial instruments [Line Items]
Suppliers current on all payments	0	2
Services \| 121 - 365 days
Financial instruments [Line Items]
Suppliers current on all payments	65	78
Services \| 366 and more days
Financial instruments [Line Items]
Suppliers current on all payments	0	0
Others
Financial instruments [Line Items]
Suppliers current on all payments	34,325	31,949
Others \| Up to 30 Days
Financial instruments [Line Items]
Suppliers current on all payments	34,325	31,949
Others \| 31 - 60 days
Financial instruments [Line Items]
Suppliers current on all payments	0	0
Others \| 61 - 90 Days
Financial instruments [Line Items]
Suppliers current on all payments	0	0
Others \| 91 - 120 days
Financial instruments [Line Items]
Suppliers current on all payments	0	0
Others \| 121 - 365 days
Financial instruments [Line Items]
Suppliers current on all payments	0	0
Others \| 366 and more days
Financial instruments [Line Items]
Suppliers current on all payments	$ 0	$ 0