Company: SQM
Filing Date: 2025-09-30
Form Type: 6-K
Source: 0000909037-25-000036
Chunk: 57

Company: CHEMICAL & MINING CO OF CHILE INC
Filing Date: 2025-09-30
Form: 6-K
Chunk 57
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 than the US dollar against the exchange rate variation, updating these contracts periodically depending on the amount of mismatches 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, are associated with the Peso. Therefore, an increase or decrease in its exchange rate with the US dollar will provoke a respective decrease or Notes to the Consolidated Interim Financial Statements June 30, 2025 44 increase in these accounting costs, which would be reflected in the Company’s statement income. By the second quarter of 2025, approximately US$492 million accumulated in expenses are associated with the Peso. As of June 30, 2025, 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$0.01 million. This air is explained primarily by the USD/CLP exchange rate observed at the end of the period. As of December 31, 2024, this value corresponds to a net liability amounting US$ 25.83 million. Furthermore, as of June 30, 2025, the Company held derivative instruments classified as hedges of foreign exchange risks associated with 100% of all nominative time deposits in UF and in pesos, at a net asset fair value of US 7.83 million. As of December 31, 2024, a net liability fair value was recognized for an amount of US$15.40 million of net asset. To ensure the difference between its assets and liabilities, the Company held the following derivative contracts as of June 30, 2025 (as the absolute value of the sum of their notional amounts): US$ 115.60 million in Chilean peso/dollar derivative contracts, US$ 55.21 million in euro/dollar derivative contracts, US$ 17.53 million in South African rand/dollar derivative contracts, US$ 302.90 million in Chinese renminbi/dollar derivative contracts, US$ 24.11 million in Australian dollar/dollar derivative contracts and US$ 6.93 million in other currencies. Notes to the Consolidated Interim Financial Statements June 30, 2025 45 These derivative contracts are held with domestic and foreign banks, which have the following credit ratings as of June