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
March 13, 2019
Commission File Number 1-14728
LATAM Airlines Group S.A.
(Translation of Registrant's Name Into English)
Presidente Riesco 5711, 20th floor
Las Condes
Santiago, Chile
(Address of principal executive offices)
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 ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐
LATAM AIRLINES GROUP S.A. AND SUBSIDIARIES
CONSOLIDATED FINANCIAL STATEMENTS
FREE TRANSLATION
DECEMBER 31, 2018
CONTENTS
Consolidated Statement of Financial Position 5
Consolidated Statement of Income by Function 7
Consolidated Statement of Comprehensive Income 8
Consolidated Statement of Changes in Equity 9
Consolidated Statement of Cash Flows - Direct Method 11
Notes to the Consolidated Financial Statements 12
CLP | - | CHILEAN PESO |
ARS | - | ARGENTINE PESO |
US$ | - | UNITED STATES DOLLAR |
THUS$ | - | THOUSANDS OF UNITED STATES DOLLARS |
COP | - | COLOMBIAN PESO |
BRL/R$ | - | BRAZILIAN REAL |
THR$ | - | THOUSANDS OF BRAZILIAN REAL |
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Contents of the notes to the consolidated financial statements of LATAM Airlines Group S.A. and Subsidiaries. | |
Notes | Page |
1 - General information | 12 |
2 - Summary of significant accounting policies | 16 |
2.1. Basis of Preparation | 16 |
2.2. Basis of Consolidation | 23 |
2.3. Foreign currency transactions | 24 |
2.4. Property, plant and equipment | 26 |
2.5. Intangible assets other than goodwill | 26 |
2.6. Goodwill | 27 |
2.7. Borrowing costs | 27 |
2.8. Losses for impairment of non-financial assets | 27 |
2.9. Financial assets | 28 |
2.10. Derivative financial instruments and hedging activities | 28 |
2.11. Inventories | 30 |
2.12. Trade and other accounts receivable | 30 |
2.13. Cash and cash equivalents | 30 |
2.14. Capital | 30 |
2.15. Trade and other accounts payables | 30 |
2.16. Interest-bearing loans | 31 |
2.17. Current and deferred taxes | 31 |
2.18. Employee benefits | 31 |
2.19. Provisions | 32 |
2.20. Revenue recognition | 32 |
2.21. Leases | 33 |
2.22. Non-current assets (or disposal groups) classified as held for sale | 34 |
2.23. Maintenance | 34 |
2.24. Environmental costs | 34 |
3 - Financial risk management | 34 |
3.1. Financial risk factors | 34 |
3.2. Capital risk management | 46 |
3.3. Estimates of fair value | 46 |
4 - Accounting estimates and judgments | 48 |
5 - Segmental information | 52 |
6 - Cash and cash equivalents | 55 |
7 - Financial instruments | 56 |
7.1. Financial instruments by category | 56 |
7.2. Financial instruments by currency | 58 |
8 - Trade, other accounts receivable and non-current accounts receivable | 59 |
9 - Accounts receivable from/payable to related entities | 62 |
10 - Inventories | 63 |
11 - Other financial assets | 64 |
12 - Other non-financial assets | 65 |
13 - Non-current assets and disposal group classified as held for sale | 66 |
14 - Investments in subsidiaries | 67 |
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15 - Intangible assets other than goodwill 70
16 - Goodwill 71
17 - Property, plant and equipment 73
18 - Current and deferred tax 79
19 - Other financial liabilities 83
20 - Trade and other accounts payables 92
21 - Other provisions 93
22 - Other non-financial liabilities 95
23 - Employee benefits 97
24 - Accounts payable, non-current 99
25 - Equity 99
26 - Revenue 104
27 - Costs and expenses by nature 104
28 - Other income, by function 105
29 - Foreign currency and exchange rate differences 106
30 - Earnings per share 114
31 - Contingencies 115
32 - Commitments 126
33 - Transactions with related parties 130
34 - Share based payments 131
35 - Statement of cash flows 134
36 - The environment 136
37 - Events subsequent to the date of the financial statements 137
4
ASSETSCurrent assets
Cash and cash equivalents Other financial assets Other non-financial assets
Trade and other accounts receivable Accounts receivable from related entities Inventories
Current tax assets
Total current assets other than non-current assets (or disposal groups) classified as held for sale or as held for distribution to owners
Non-current assets (or disposal groups) classified as held for sale or as held for distribution to owners
Total current assets
Non-current assets
Other financial assets Other non-financial assets Accounts receivable
Intangible assets other than goodwill Goodwill
Property, plant and equipment Current tax assets
Deferred tax assets
Total non-current assets Total assets
LATAM AIRLINES GROUP S.A. AND SUBSIDIARIES |
CONSOLIDATED STATEMENT OF FINANCIAL POSITION |
Note |
6 - 7 |
7 - 11 |
12 |
7 - 8 |
7 - 9 |
10 |
18 |
The accompanying Notes 1 to 37 form an integral part of these consolidated financial statements.
As of | As of | |
December 31, | December 31, | |
2018 | 2017 | |
ThUS$ | ThUS$ | |
1,081,642 | 1,142,004 | |
383,984 | 559,919 | |
320,977 | 221,188 | |
1,162,582 | 1,214,050 | |
2,931 | 2,582 | |
279,344 | 236,666 | |
69,134 | 77,987 | |
3,300,594 | 3,454,396 | |
13 | 5,768 | 291,103 |
3,306,362 | 3,745,499 | |
7 - 11 | 58,700 | 88,090 |
12 | 233,741 | 220,807 |
7 - 8 | 5,381 | 6,891 |
15 | 1,441,072 | 1,617,247 |
16 | 2,294,072 | 2,672,550 |
17 | 9,953,365 | 10,065,335 |
18 | 757 | 17,532 |
18 | 273,327 | 364,021 |
14,260,415 | 15,052,473 | |
17,566,777 | 18,797,972 |
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LATAM Airlines Group SA published this content on 14 March 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 14 March 2019 10:18:13 UTC