Company: SQM
Filing Date: 2025-04-03
Form Type: 6-K
Source: 0000909037-25-000010
Chunk: 20

Company: CHEMICAL & MINING CO OF CHILE INC
Filing Date: 2025-04-03
Form: 6-K
Chunk 20
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 Amendments and improvements Description Mandatory for annual periods beginning on or after Amendments to IAS 1 "Presentation of Financial Statements" about the classification of liabilities. This amendment clarifies that liabilities are classified as either current or non-current, depending on their rights as of the reporting date. The classification is not affected by the expectations of the entity or events after the reporting date. For example, the receipt of a waiver or non-compliance with an agreement. The amendment also clarifies what IAS 1 means when it refers to the “settlement" of a liability. The amendment should be applied retrospectively in accordance with IAS 8. 01-01-2024 Amendment to IAS 1 “Non-current Liabilities with Covenants”. The amendment improves the information that an entity discloses when its payment terms are deferred, provided it complies with covenants within twelve months of issuing the financial statements. 01-01-2024 Amendment to IFRS 16, “Leases” Amendments to sale and leaseback transactions, including explanations of how an entity should recognize its right of use leased assets and how the gains or losses arising from sale and leaseback transactions should be recognized in the financial statements. 01-01-2024 Amendments to IAS 7 “Statement of Cash Flows” and IFRS 7 “Financial Instruments: Disclosures” on supplier finance arrangements. These amendments require disclosures that improve the transparency of supplier finance arrangements and their effects on a company’s liabilities, cash flows and exposure to liquidity risk. 01-01-2024 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 Financial Statement December 31, 2024 16 (b) Standards, interpretations and amendments issued that had not become effective for financial statements beginning on January 1, 2024 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 IAS 21 - Lack of exchangeability. This amendment affects an entity that has a transaction in a foreign 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,