株探米国株
英語
エドガーで原本を確認する
6-K 1 a6_kxreviewaccountingtreat.htm 6-K 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 April 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:_X_ Form 40-F









SQM INFORMS REVISED ACCOUNTING TREATMENT FOR LITHIUM MINING TAX


Santiago, Chile. April 29, 2024.- Sociedad Química y Minera de Chile S.A. ("SQM" or the "Company") (NYSE: SQM; Santiago Stock Exchange: SQM-B, SQM-A) informs the following information:

In relation to the matter reported in the press release (hecho esencial) dated April 7, 2024, today the Company's Board of Directors has reviewed the accounting treatment of the tax claims the Company has with the Chilean Internal Revenue Service (“Servicio de Impuestos Internos” or “SII”) as a result of the erroneous application by the SII of the specific tax on mining activities for the exploitation of lithium, as disclosed in note 21.3 of the most recent financial statements filed by the Company with the Chilean Financial Market Commission (“Comisión para el Mercado Financiero” or “CMF”).

As a result of this review, the financial statements that the Company has filed on the Form 20-F with the Securities and Exchange Commission in the United States (the “20-F”) include differences with respect to the last financial statements issued in Chile, as set forth below in an accounting reconciliation between the consolidated financial statements of the Company filed with the CMF on February 28, 2024, and the financial statements filed on the 20-F.
This adjustment will also be reflected in the Company's consolidated financial statements for the period ended March 31, 2024.

Furthermore, due to the timing difference between the filing of the latest financial statements (together with the integrated annual report) in Chile and the filing of the 20-F, as well as the market disclosure criteria required by the external auditors, the Company’s Board of Directors has agreed to update the contingencies notes to the consolidated financial statements and the risk factor on the compliance standards and investigations applicable to the Company on the 20-F.






Consolidated Statements of Financial Position

Assets Note* As of December 31, 2023, as reported to the CMF  Subsequent event adjustment As of December 31, 2023, as filed with the Form 20-F
ThUS$ ThUS$ ThUS$
Current Assets
Cash and cash equivalents 9.1 1,041,369 — 1,041,369
Other current financial assets 12.1 1,325,843 — 1,325,843
Other current non-financial assets 16 136,750 — 136,750
Trade and other receivables, current 12.2 907,181 — 907,181
Trade receivables due from related parties, current 11.5 43,253 — 43,253
Current inventories 10 1,774,594 — 1,774,594
Current tax assets 25.1 637,033 — 637,033
Total current assets other than those classified as held for sale or disposal 5,866,023 — 5,866,023
Non-current assets or groups of assets classified as held for sale 118 — 118
Total non-current assets held for sale 118 — 118
Total current assets 5,866,141 — 5,866,141
Non-current assets
Other non-current financial assets 12.1 248,281 — 248,281
Other non-current non-financial assets 16 373,700 — 373,700
Non-current trade receivables 12.2 2,559 — 2,559
Investments accounted for under the equity method 7.1-8.1 86,417 — 86,417
Intangible assets other than goodwill 14.1 155,874 — 155,874
Goodwill 14.1 958 — 958
Property, plant and equipment, net 15.1 3,609,937 — 3,609,937
Right-of-use assets 13.1 73,193 — 73,193
Non-current tax assets 25.1 986,274 (926,733) 59,541
Deferred tax assets 25.3 302,236 — 302,236
Total non-current assets 5,839,429 (926,733) 4,912,696
Total assets 11,705,570 (926,733) 10,778,837

* See the notes to the Company’s consolidated financial statements included in the Form 20-F.

Consolidated Statements of Financial Position

Liabilities and Equity Note* As of December 31, 2023, as reported to the CMF Subsequent event adjustment As of December 31, 2023, as filed with the Form 20-F
ThUS$ ThUS$ ThUS$
Current liabilities
Other current financial liabilities 12.4 1,256,499 —  1,256,499
Lease liabilities, current 13.2 18,192 —  18,192
Trade and other payables, current 12.5 449,633 —  449,633
Current trade payables due to related parties 11.6 2,346 —  2,346
Other current provisions 18.1 392,322 —  392,322
Current tax liabilities 25.2 20,890 162,743 183,633
Provisions for employee benefits, current 17.1 23,946 —  23,946
Other current non-financial liabilities 18.3 187,305 —  187,305
Total current liabilities 2,351,133 162,743 2,513,876
Non-current liabilities
Other non-current financial liabilities 12.4 3,213,422 —  3,213,422
Non-current lease liabilities 13.2 56,966 —  56,966
Other non-current provisions 18.1 60,450 —  60,450
Deferred tax liabilities 25.3 394,688 —  394,688
Non-current provisions for employee benefits 17.1 62,006 —  62,006
Total non-current liabilities 3,787,532 — 3,787,532
Total liabilities 6,138,665 162,743 6,301,408
Equity
Equity attributable to owners of the Parent 19
Share capital 1,577,643 —  1,577,643
Retained earnings 3,838,162 (1,089,476) 2,748,686
Other reserves 114,870  —  114,870 
Equity attributable to owners of the Parent 5,530,675 (1,089,476) 4,441,199
Non-controlling interests 36,230 —  36,230
Total equity 5,566,905 (1,089,476) 4,477,429
Total liabilities and equity 11,705,570 (926,733) 10,778,837

* See the notes to the Company’s consolidated financial statements included in the Form 20-F.

Consolidated Statements of Income
As of December 31, 2023, as reported to the CMF Subsequent event adjustment As of December 31, 2023, as filed with the Form 20-F
Consolidated Statements of Income Note*
ThUS$ ThUS$ ThUS$
Revenue 21.1 7,467,490 —  7,467,490
Cost of sales 21.2 (4,392,436) —  (4,392,436)
Gross profit 3,075,054 —  3,075,054
Other income 21.3 40,557 —  40,557
Administrative expenses 21.4 (175,765) —  (175,765)
Other expenses 21.5 (93,400) —  (93,400)
Impairment of financial assets and reversal of impairment losses 21.7 202 —  202
Other (losses) gains 21.6 (2,254) —  (2,254)
Income from operating activities 2,844,394 —  2,844,394
Finance income 21.1 122,726 —  122,726
Finance costs 15-21.9 (138,402) —  (138,402)
Share of profit of associates and joint ventures accounted for using the equity method 7.1-8.1 593 —  593
Foreign currency translation differences 24 (22,293) —  (22,293)
Income before taxes 2,807,018 —  2,807,018
Income tax expense 25.3 (787,275) (1,089,476) (1,876,751)
Net income 2,019,743 (1,089,476) 930,267
Net income attributable to:
Net income attributable to owners of the parent 2,012,667 (1,089,476) 923,191
Net income attributable to non-controlling interests 7,076 — 7,076
2,019,743 (1,089,476) 930,267
Basic earnings per share (US$ per share) 3.26 7.0462 — 3.2320
Diluted earnings per share (US$ per share) 3.26 7.0462 — 3.2320

* See the notes to the Company’s consolidated financial statements included in the Form 20-F.


Consolidated Statements of Comprehensive Income
As of December 31, 2023, as reported to the CMF Subsequent event adjustment As of December 31, 2023, as filed with the Form 20-F
Consolidated Statements of Comprehensive Income
ThUS$ ThUS$ ThUS$
Net income 2,019,743  (1,089,476) 930,267 
Items of other comprehensive income that will not be reclassified to income for the year, before taxes
(Losses) gain from measurements of defined benefit plans (5,843) —  (5,843)
Gains (losses) from financial assets measured at fair value through other comprehensive income 190,509  —  190,509 
Total other comprehensive income that will not be reclassified to income for the year, before taxes 184,666  —  184,666 
Items of other comprehensive income that will be reclassified to income for the year, before taxes
Foreign currency exchange gains (losses) 3,177  —  3,177 
Cash flow hedges- effective portion of changes in far value 126  —  126 
Cash flow hedges-reclassified to income for the year 18,566  —  18,566 
Total other comprehensive income that will be reclassified to income for the year 21,869  —  21,869 
Other items of other comprehensive income, before taxes 206,535  —  206,535 
Income taxes related to items of other comprehensive income that will not be reclassified to income for the year
Income tax benefit (expense) relating to measurement of defined benefit pension plans through other comprehensive income 1,582  —  1,582 
Income tax (expense) benefit relating to gains (losses) on financial assets measured irrevocably at fair value through other comprehensive income (57,242) —  (57,242)
Total income tax (expense) benefit relating to components of other comprehensive income that will not be reclassified to income for the year (55,660) —  (55,660)
Income taxes relating to components of other comprehensive income that will be reclassified to income for the year
Income tax (expense) benefit related to gains (losses) from cash flow hedges (5,047) —  (5,047)
Total income tax (expense) benefit relating to components of other comprehensive income that will be reclassified to income for the year (5,047) —  (5,047)
Total other comprehensive income (loss) 145,828  —  145,828 
Total comprehensive income 2,165,571  (1,089,476) 1,076,095 
Comprehensive income attributable to
Comprehensive income attributable to owners of the parent 2,158,444  (1,089,476) 1,068,968 
Comprehensive income attributable to non-controlling interest 7,127  —  7,127 
2,165,571  (1,089,476) 1,076,095 

Consolidated Statements of Changes in Equity
Consolidated Statements of
Changes in Equity		 Share capital Foreign
currency
translation
reserve		 Hedge
reserve		 Gains and
losses from
financial
assets
reserve		 Actuarial
gains and
losses from
defined
benefit plans
reserve		 Accumulated
other
comprehensive
income		 Other
miscellaneous
reserves		 Total
reserves		 Retained
earnings		 Equity
attributable
to owners of
the Parent		 Non-
controlling
interests		 Total Equity
ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$
Equity at January 1, 2023 1,577,643  (8,042) (14,575) (10,973) (9,198) (42,788) 11,663  (31,125) 3,350,114  4,896,632  35,369  4,932,001 
Net income —  —  —  —  —  —  —  —  2,012,667  2,012,667  7,076  2,019,743 
Other comprehensive income —  3,121  13,645  133,267  (4,256) 145,777  —  145,777  —  145,777  51  145,828 
Comprehensive income —  3,121  13,645  133,267  (4,256) 145,777  —  145,777  2,012,667  2,158,444  7,127  2,165,571 
Dividends —  —  —  —  —  —  —  —  (1,524,619) (1,524,619) (6,266) (1,530,885)
Other increases in equity —  —  —  —  —  —  218  218  —  218  —  218 
Total changes in equity —  3,121  13,645  133,267  (4,256) 145,777  218  145,995  488,048  634,043  861  634,904 
Equity as of December 31, 2023 1,577,643  (4,921) (930) 122,294  (13,454) 102,989  11,881  114,870  3,838,162  5,530,675  36,230  5,566,905 
Subsequent event adjustment —  —  —  —  —  —  —  —  (1,089,476) (1,089,476) —  (1,089,476)
Equity as of December 31, 2023, as filed with the Form 20-F 1,577,643  (4,921) (930) 122,294  (13,454) 102,989  11,881  114,870  2,748,686  4,441,199  36,230  4,477,429 


About SQM
SQM is a global company that is listed on the New York Stock Exchange and the Santiago Stock Exchange (NYSE: SQM; Santiago Stock Exchange: SQM-B, SQM-A). SQM develops and produces diverse products for several industries essential for human progress, such as health, nutrition, renewable energy and technology through innovation and technological development. We aim to maintain our leading world position in the lithium, potassium nitrate, iodine and thermo-solar salts markets.

For further information, contact:

Gerardo Illanes / gerardo.illanes@sqm.com
Irina Axenova / irina.axenova@sqm.com
Isabel Bendeck / isabel.bendeck@sqm.com

For media inquiries, contact:

Maria Ignacia Lopez / ignacia.lopez@sqm.com Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Pablo Pisani / pablo.pisani@sqm.com




SIGNATURES

CHEMICAL AND MINING COMPANY OF CHILE INC.
(Registrant)
Date: April 29, 2024 /s/ Gerardo Illanes
By: Gerardo Illanes
CFO