Company: SQM
Filing Date: 2025-12-15
Form Type: 6-K
Source: 0000909037-25-000048
Chunk: 23

Company: CHEMICAL & MINING CO OF CHILE INC
Filing Date: 2025-12-15
Form: 6-K
Chunk 23
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-time Adoption of International Financial Reporting Standards. Some cross-references to IFRS 9 in paragraphs B5-B6 regarding the retrospective application exception for hedge accounting were improved. -IFRS 7 Financial Instruments: Disclosures. In relation to disclosures of gains/losses arising from derecognition of financial assets with continuing involvement, a reference to IFRS 13 is incorporated in order to disclose whether there are significant unobservable inputs with an impact on the fair value and, therefore, on part of the gain/loss from derecognition. -IFRS 9 Financial Instruments. A reference to the initial measurement of receivables was amended by eliminating the term "transaction price". -IFRS 10 Consolidated Financial Statements Some improvements were included in the description of the control assessment when there are “de facto agents”. -IAS 7 Statement of Cash Flows. Paragraph 37 regarding the concept of “equity method” was amended by eliminating the reference to the “cost method”. 01-01-2026 IFRS 18 Presentation and Disclosure in Financial Statements The new standard on presentation and disclosure in financial statements, with a focus on updates to the statement of profit or loss. The key new concepts introduced in IFRS 18 relate to: - the structure of the statement of profit or loss; - required disclosures in the financial statements for certain profit or loss performance measures that are reported outside an entity’s financial statements (that is, management-defined performance measures); and - enhanced principles on aggregation and disaggregation which apply to the primary financial statements and notes in general. 01-01-2027 Amendment to IFRS 9 and IFRS 7: Contracts referencing nature- dependent electricity. Published in December 2024. This amendment includes: - Clarifying the application of the “own-use” requirements; - Permitting hedge accounting if these contracts are used as hedging instruments; - Adding new disclosure requirements to enable investors to understand the effect of these contracts on a company’s financial performance and cash flows. 01-01-2026 Management believes that the adoption of the above standards, amendments and interpretations will not have a significant impact on the Company’s financial statements. Notes to the Consolidated Interim Financial Statements September 30, 2025 17 2.5 Basis of consolidation (a) Subsidiaries The Company established control as the basis of consolidation for its financial statements. The Company controls a subsidiary when it is exposed, or has rights, to variable returns from its involvement