Company: SQM
Filing Date: 2025-12-15
Form Type: 6-K
Source: 0000909037-25-000048
Chunk: 22

Company: CHEMICAL & MINING CO OF CHILE INC
Filing Date: 2025-12-15
Form: 6-K
Chunk 22
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, 2025 15 2.3 Basis of measurement The consolidated interim 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. 2.4 Accounting pronouncements New accounting pronouncements (a) The following standards, interpretations and amendments are mandatory for the first time for annual periods beginning on January 1, 2025: Amendments and improvements Description Mandatory for annual periods beginning on or after Amendments to IAS 21 - Lack of exchangeability currency that cannot be exchanged with another currency for a specific purpose as of the measurement date. One currency is exchangeable into another when the other currency can be obtained with a normal administrative delay, and the transaction is performed using a market or exchange mechanism that creates enforceable rights and obligations. This amendment contains instructions regarding the exchange rate to be used when the currency is not exchangeable, as previously described. Early adoption is permitted. 01-01-2025 Management determined that the adoption of the aforementioned standards, amendments and interpretations did not significantly impact the Company’s consolidated financial statements. Notes to the Consolidated Interim Financial Statements September 30, 2025 16 (b) Standards, interpretations and amendments issued that had not become effective for financial statements beginning on January 1, 2025 and which the Company has not adopted early are as follows: Standards and Interpretations Description Mandatory for annual periods beginning on or after Amendments to IFRS 9 and IFRS 7 - Classification and Measurement of Financial Instruments. Issued in May 2024 This amendment: - Clarifies the requirements for the timing of recognition and derecognition of certain financial assets and liabilities, introducing a new exception for certain financial liabilities settled through an electronic cash transfer system; - Clarifies and provides additional guidance for assessing whether a financial asset meets the criterion of solely payment of principal and interest (SPPI); - Adds new disclosures for certain instruments with contractual terms that can change cash flows (such as some instruments with features linked to the achievement of environmental, social and governance (ESG) objectives); and - Updates the disclosures for equity instruments at fair value through other comprehensive income (FVOCI). 01-01-2026 Annual Improvements to IFRSs The following improvements were published in July 2024: -IFRS 1 First