SQM Files Q1 2024 Financials

TL;DR

SQM dropped Q1 2024 financials on 6/20.

AI Summary

Chemical & Mining Co of Chile Inc. (SQM) filed a 6-K report on June 20, 2024, containing financial statements for the three months ended March 31, 2024. The report was filed with the SEC and the Chilean Commission for the Financial Market.

Why It Matters

This filing provides investors with the latest financial performance data for SQM, crucial for understanding the company's operational and financial health in the first quarter of 2024.

Risk Assessment

Risk Level: low — This is a routine financial filing and does not contain new material information that would inherently increase risk.

Key Numbers

• Q1 2024 — Financial Period (Financial statements cover the three months ended March 31, 2024.)

Key Players & Entities

• CHEMICAL & MINING CO OF CHILE INC (company) — Registrant
• Sociedad Química y Minera de Chile S.A. (company) — Registrant (Spanish Name)
• SQM (company) — Ticker Symbol
• March 31, 2024 (date) — End of reporting period
• June 20, 2024 (date) — Filing date
• Comisión para el Mercado Financiero (company) — Chilean regulatory body

FAQ

Filing Documents

• a6-k_financialstatementsx1.htm (6-K) — 5752KB
• image_0.jpg (GRAPHIC) — 74KB
• image_1.jpg (GRAPHIC) — 0KB
• image_36.jpg (GRAPHIC) — 24KB
• 0000909037-24-000047.txt ( ) — 5889KB

From the Filing

Document UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of June, 2024. Commission File Number 33-65728 CHEMICAL AND MINING COMPANY OF CHILE INC. (Translation of registrant's name into English) El Trovador 4285, Santiago, Chile (562) 2425-2000 (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F Form 40-F Santiago, Chile. June 18, 2024.- Sociedad Qumica y Minera de Chile S.A. (SQM) (NYSE SQM Santiago Stock Exchange SQM-B, SQM-A) reports the translation of its financial statements for the three months ended March 31, 2024, the Spanish version of which was filed with the Chilean Commission for the Financial Market ( Comisin para el Mercado Financiero or "CMF ") on May 22, 2024. CONSOLIDATED INTERIM FINANCIAL STATEMENTS As of and for the period ended March 31, 2024 Sociedad Qumica y Minera de Chile S.A. and subsidiaries In thousands of United States dollars This document includes - Consolidated Interim Statements of Financial Position - Consolidated Interim Statements of Income - Consolidated Interim Statements of Comprehensive Income - Consolidated Interim Statements of Cash Flows - Consolidated Interim Statements of Changes in Equity - Notes to the Consolidated Interim Financial Statements Table of Contents –Consolidated Financial Statements Consolidated Interim Classified Statements of Financial Position 1 Consolidated Interim Classified Statements of Financial Position 2 Consolidated Interim Statements of Income 3 Consolidated Interim Statements of Comprehensive Income 4 Consolidated Interim Statements of Cash Flows 5 Consolidated Interim Statements of Cash Flows 6 Consolidated Interim Statements of Changes in Equity 7 Glossary 8 Note 1 Identification and Activities of the Company and Subsidiaries 10 1.1. Historical background 10 1.2. Main domicile where the Company performs its production activities 10 1.3. Codes of main activities 10 1.4. Description of the nature of operations and main activities 10 1.5. Other background 12 1.6. Specific mining tax applied to lithium exploitation 13 Note 2 Basis of presentation for the consolidated financial statements 14 2.1 Accounting period 14 2.2 Consolidated financial statements 14 2.3 Basis of measurement 15 2.4 Accounting pronouncements 15 2.5 Basis of consolidation 17 2.6 Investments in associates and joint ventures 20 Note 3 Significant accounting policies 21 3.1 Classification of balances as current and non-current 21 3.2 Functional and presentation currency 21 3.3 Accounting policy for foreign currency translation 21 3.4 Consolidated statement of cash flows 23 3.5 Financial assets accounting policy 23 3.6 Financial assets impairment 24 3.7 Financial liabilities 24 3.8 Estimated fair value of financial instruments 25 3.9 Reclassification of financial instrument 25 3.10 Financial instruments derecognition 26 3.11 Derivative and hedging financial instruments 26 3.12 Derivative financial instruments not considered as hedges 27 3.13 Deferred acquisition costs from insurance contracts 27 3.14 Leases 27 3.15 Inventory measurement 28 3.16 Non-controlling interests 29 3.17 Related party transactions 29 3.18 Property, plant and equipment 29 3.19 Depreciation of property, plant and equipment 30 3.20 Goodwill 30 3.21 Intangible assets other than goodwill 31 3.22 Research and development expenses 32 3.23 Exploration and evaluation expenses 32 3.24 Impairment of non-financial assets 32 3.25 Minimum dividend 33 3.26 Earnings per share 34 3.27 Other provisions 34 3.28 Obligations related to employee termination benefits and pension commitments 34 3.29 Compensation plans 35 3.30 Revenue recognition 35 3.31 Finance income and finance costs 35 3.32 Current income tax and deferred 35 3.33 Operating segment reporting 36 3.34 Primary accounting criteria, estimates and assumptions 37 3.35 Government grants 38 Note 4 Financial risk management 39 4.1 Financial risk management policy 39 4.2 Risk Factors 39 4.3 Financial risk management 44 Note 5 Separate information on the main office, parent entity and joint action agreements 45 5.1 Parent's stand-alone assets and liabilities 45 5.2 Parent entity 45 Note 6 Board of Directors, Senior Management and Key management personnel 46 6.1 Remuneration of the Board of Directors and Senior Management 46 6.2 Key management personnel compensation 48 Note 7 Background on companies included in consolidation and non-controlling interests 49 7.1 Assets, liabilities and profit of consolidated subsidiaries as of and for the period ended March 31,

View Full Filing

View this 6-K filing on SEC EDGAR