ARAUCO & CONSTITUTION PULP INC | CIK:0001004156 | 3

  • Filed: 5/9/2018
  • Entity registrant name: ARAUCO & CONSTITUTION PULP INC (CIK: 0001004156)
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    • ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory

    NOTE 5. CASH AND CASH EQUIVALENTS
     
    Cash and cash equivalents include cash on hand, bank checking account balances, time deposits and mutual funds. These are short-term highly liquid investments that are readily convertible to known amounts of cash, and are subject to an insignificant risk of changes in value.
     
    The investment objective of time deposits is to maximize the amounts of cash surpluses in the short-term. These instruments are permitted under Arauco’s Investment Policy which allows investing in fixed income securities. These instruments have a maturity of less than three months from the date of acquisition.
     
    Arauco invests in local and international mutual funds in order to maximize the returns of cash surpluses denominated in Chilean Pesos or in foreign currencies such as U.S. Dollars or Euros. These instruments are permitted under Arauco’s Investment Policy.
     
    As of the date of these consolidated financial statements, there are no amounts of cash and cash equivalents with restrictions on use.
     
     
     
    12-31-2017
     
    12-31-2016
     
    Components of Cash and Cash Equivalents
     
    ThU.S.$
     
    ThU.S.$
     
    Cash on hand
     
    148
     
    3,156
     
    Bank checking account balances
     
    209,037
     
    146,290
     
    Time deposits
     
    292,105
     
    247,391
     
    Mutual funds
     
    73,170
     
    195,416
     
    Other cash and cash equivalents (*)
     
    15,426
     
    -
     
    Total
     
    589,886
     
    592,253
     
     
    (*) Applies to purchase contracts resale commitments.
     
    The risk classification of the mutual funds in effect as of December 31, 2017 and December 31, 2016 is shown below.
     
     
     
    December
    2017
    ThU.S.$
     
    December
    2016
    ThU.S.$
     
    AAAfm
     
    70,808
     
    192,895
     
    AAfm
     
    2,362
     
    2,521
     
    Total Mutual Funds
     
    73,170
     
    195,416
     
     
    Changes in Financial Liabilities
     
     
     
     
     
    Cash Flow
     
     
     
     
     
     
     
     
     
     
     
    Opening balance
     
    Borrowings
     
    Borrowings
     
    Interest
     
    Accrued
     
    Inflation
     
    Non-cash
     
    Closing balance
     
     
     
    12-31-2016
     
    obtained
     
    paid
     
    paid
     
    interest
     
    adjustment
     
    movements
     
    12-31-2017
     
     
     
    ThU.S.$
     
    ThU.S.$
     
    ThU.S.$
     
    ThU.S.$
     
    ThU.S.$
     
    ThU.S.$
     
    ThU.S.$
     
    ThU.S.$
     
    Borrowings from banks
     
    914,358
     
    421,309
     
    (481,205)
     
    (28,141)
     
    27,894
     
    (439)
     
    4,681
     
    858,457
     
    Hedging liabilities
     
    87,364
     
    -
     
    -
     
    -
     
    -
     
    -
     
    (81,971)
     
    5,393
     
    Bonds and promissory notes
     
    3,452,658
     
    891,172
     
    (1,146,506)
     
    (233,045)
     
    218,326
     
    122,324
     
    (2,244)
     
    3,302,685
     
    Total
     
    4,454,380
     
    1,312,481
     
    (1,627,711)
     
    (261,186)
     
    246,220
     
    121,885
     
    (79,534)
     
    4,166,535
     
     
     
     
     
     
    Cash Flow
     
     
     
     
     
     
     
     
     
     
     
    Opening balance
     
    Borrowings
     
    Borrowings
     
    Interest
     
    Accrued
     
    Inflation
     
    Non-cash
     
    Closing balance
     
     
     
    12-31-2015
     
    obtained
     
    paid
     
    paid
     
    interest
     
    adjustment
     
    movements
     
    12-31-2016
     
     
     
    ThU.S.$
     
    ThU.S.$
     
    ThU.S.$
     
    ThU.S.$
     
    ThU.S.$
     
    ThU.S.$
     
    ThU.S.$
     
    ThU.S.$
     
    Borrowings from banks
     
    997,542
     
    550,226
     
    (645,211)
     
    (27,692)
     
    27,471
     
    9
     
    12,013
     
    914,358
     
    Hedging liabilities
     
    227,568
     
    -
     
    -
     
    -
     
    -
     
    -
     
    (140,204)
     
    87,364
     
    Bonds and promissory notes
     
    3,180,334
     
    187,427
     
    -
     
    (163,881)
     
    165,017
     
    79,923
     
    3,838
     
    3,452,658
     
    Total
     
    4,405,444
     
    737,653
     
    (645,211)
     
    (191,573)
     
    192,488
     
    79,932
     
    (124,353)
     
    4,454,380