ATENTO S.A., 20-F filed on 3/20/2019
Annual and Transition Report (foreign private issuer)
v3.19.1
Document and Entity Information - shares
12 Months Ended
Dec. 31, 2018
Nov. 06, 2018
Document Entity Information [Abstract]    
Document Type 20-F  
Document Period End Date Dec. 31, 2018  
Amendment Flag false  
Document Fiscal Period Focus FY  
Document Fiscal Year Focus 2017  
Current Fiscal Year End Date --12-31  
Entity Central Index Key 0001606457  
Entity Current Reporting Status Yes  
Entity Filer Category Accelerated Filer  
Trading symbol ATTO  
Entity Registrant Name Atento S.A.  
Entity Voluntary Filers No  
Entity Well Known Seasoned Issuer No  
Entity Common Stock Shares Outstanding   75,070,926
v3.19.1
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - USD ($)
Dec. 31, 2018
Dec. 31, 2017
Assets [abstract]    
Non-current assets $ 716,886,000 $ 764,127,000
Intangible assets 211,202,000 230,104,000
Goodwill 154,989,000 153,144,000
Property, plant and equipment 123,940,000 152,195,000
Non-current financial assets 95,531,000 90,076,000
Trade and other receivables 19,148,000 21,677,000
Other taxes receivable 6,061,000 7,282,000
Other non-current financial assets 65,070,000 60,222,000
Derivative financial instruments 11,313,000 8,177,000
Deferred tax assets 125,163,000 131,326,000
Trade and other current receivables 342,075,000 410,534,000
Current assets 496,467,000 566,178,000
Trade and other receivables 315,654,000 388,565,000
Current income tax receivable 26,421,000 21,969,000
Other taxes receivable 8,019,000 7,308,000
Other current financial assets 891,000 1,810,000
Cash and cash equivalents 133,526,000 141,762,000
Total Assets 1,213,353,000 1,330,305,000
Equity and liabilities [abstract]    
Total Equity 340,092,000 377,839,000
Non-controlling interests 8,541,000 9,476,000
Owners of the parent company 331,551,000 368,363,000
Share capital 49,000 48,000
Reserve for acquisition of non-controlling interest (23,531,000) (23,531,000)
Share premium 615,288,000 639,435,000
Treasury Shares 8,178,000 0
Retained losses (16,325,000) (94,535,000)
Translation differences (257,122,000) (170,063,000)
Cash flow/net investment hedge 8,404,000 9,594,000
Stock-based compensation 12,966,000 7,415,000
Non-current liabilities 528,869,000 582,870,000
Deferred tax liabilities 30,221,000 43,942,000
Debt with third parties 408,426,000 439,731,000
Derivative financial instruments 682,000 5,140,000
Provisions and contingencies 51,174,000 61,186,000
Non-trade payables 14,391,000 8,094,000
Option for the acquisition of non-controlling interest 20,830,000 23,752,000
Other taxes payable 3,145,000 1,025,000
Current liabilities 344,392,000 369,596,000
Debt with third parties 51,342,000 46,560,000
Derivative financial instruments 0 1,212,000
Trade and other payables 274,000,000 302,756,000
Trade payables 76,912,000 94,078,000
Income tax payables 10,615,000 8,058,000
Other taxes payables 78,511,000 86,166,000
Other non-trade payables 107,962,000 114,454,000
Current provisions 19,050,000 19,068,000
Total Equity and liabilities $ 1,213,353,000 $ 1,330,305,000
v3.19.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Profit or loss [abstract]      
Revenue $ 1,818,180 $ 1,921,311 $ 1,757,498
Other operating income 19,377 [1] 16,437 [1] 5,880
Other gains 180 372 41,748
Operating expenses:      
Supplies 70,816 74,899 65,598
Employee benefits expenses 1,365,181 1,429,076 1,309,901
Depreciation 36,566 49,226 46,448
Amortisation 58,679 55,195 50,916
Changes in trade provisions (1,032) (627) (1,902)
Other operating expenses 215,958 236,648 214,015
OPERATING PROFIT 89,505 92,449 116,346
Finance income 18,843 7,858 7,188
Finance costs 45,612 [1] 78,145 [1] 59,151
Change in fair value of financial instruments 179 230 675
Net foreign exchange loss (29,015) [1] (23,427) (56,494)
(LOSS)/PROFIT BEFORE TAX 33,900 (1,035) 8,564
Income tax expense 13,414 12,533 5,207
(LOSS)/PROFIT FROM CONTINUING OPERATIONS [2] 20,486 (13,568) 3,357 [3]
LOSS FROM DISCONTINUED OPERATIONS (**) [2] 0 [4] 0 [4] (3,206) [3]
(LOSS)/PROFIT FOR THE YEAR 20,486 (13,568) 151
(LOSS)/PROFIT ATTRIBUTABLE TO:      
OWNERS OF THE PARENT 18,540 (16,790) 65
NON-CONTROLLING INTEREST 1,946 3,222 86
(LOSS)/PROFIT FOR THE YEAR 20,486 (13,568) 151
Net finance expense $ (55,605) $ 93,484 $ (107,782)
EARNINGS PER SHARE:      
Basic (loss)/earnings per share from continuing operations (in U.S. dollars) $ 0.28 $ (0.18) $ 0.05 [3]
Basic loss per share from discontinued operations (in U.S. dollars) 0 0 (0.04) [3]
Diluted (loss)/earnings per share from continuing operations (in U.S. dollars) 0.28 (0.18) 0.05 [3]
Diluted loss per share from discontinued operations (in U.S. dollars) $ 0 $ 0 $ (0.04) [3]
[1]
(1) The year ended December 31, 2016 contains the impacts of the CVI termination. The reversal of the principal amount of 41,749 thousand U.S. dollars was recognized in "Other gains and own work capitalized", the interest reversal of 19,936 thousand U.S. dollars was recognized in "Finance costs" and the loss of 35,373 thousand U.S. dollars on the conversion of Argentine pesos to U.S. dollars was recognized in "Net foreign exchange loss".
[2]

(1) A s of December 31, 20 17 , potential ordinary shares of 1,090,060 , relating to the stock option plan were excluded from the calculation of diluted loss per share as the loss in 2017 is anti-dilutive.

[3]

(*) E xclude discontinued operations – Moroc c o.

[4]
(**) Discontinued operations did not generate any income tax expense.
v3.19.1
CONSOLIDATED INCOME STATEMENTS - EXCLUDING DISCONTINUED OPERATIONS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Disclosure Of Operating Segments [Line Items]      
Revenue $ 1,818,180 $ 1,921,311 $ 1,757,498
Other operating income 19,377 [1] 16,437 [1] 5,880
Other gains 180 372 41,748
Operating expenses:      
Supplies 70,816 74,899 65,598
Employee benefits expenses 1,365,181 1,429,076 1,309,901
Depreciation 36,566 49,226 46,448
Amortisation 58,679 55,195 50,916
Changes in trade provisions (1,032) (627) (1,902)
Other operating expenses 215,958 236,648 214,015
OPERATING PROFIT 89,505 92,449 116,346
Finance income 18,843 7,858 7,188
Finance costs 45,612 [1] 78,145 [1] 59,151
Change in fair value of financial instruments 179 230 675
Net foreign exchange loss (29,015) [1] (23,427) (56,494)
(LOSS)/PROFIT BEFORE TAX 33,900 (1,035) 8,564
Income tax expense 13,414 12,533 5,207
(LOSS)/PROFIT FROM CONTINUING OPERATIONS [2] 20,486 (13,568) 3,357 [3]
LOSS FROM DISCONTINUED OPERATIONS (**) [2] 0 [4] 0 [4] (3,206) [3]
(LOSS)/PROFIT FOR THE YEAR 20,486 (13,568) 151
(LOSS)/PROFIT ATTRIBUTABLE TO:      
OWNERS OF THE PARENT 18,540 (16,790) 65
NON-CONTROLLING INTEREST 1,946 3,222 86
Net finance expense $ (55,605) $ 93,484 $ (107,782)
EARNINGS PER SHARE:      
Basic (loss)/earnings per share from continuing operations (in U.S. dollars) $ 0.28 $ (0.18) $ 0.05 [3]
Basic loss per share from discontinued operations (in U.S. dollars) 0 0 (0.04) [3]
Diluted (loss)/earnings per share from continuing operations (in U.S. dollars) 0.28 (0.18) 0.05 [3]
Diluted loss per share from discontinued operations (in U.S. dollars) $ 0 $ 0 $ (0.04) [3]
Atento Morocco [member]      
Operating expenses:      
Finance income $ 18,843 $ 7,858 $ 7,188 [5]
Finance costs $ (45,612) $ (78,145) $ 59,151 [1],[5]
[1]
(1) The year ended December 31, 2016 contains the impacts of the CVI termination. The reversal of the principal amount of 41,749 thousand U.S. dollars was recognized in "Other gains and own work capitalized", the interest reversal of 19,936 thousand U.S. dollars was recognized in "Finance costs" and the loss of 35,373 thousand U.S. dollars on the conversion of Argentine pesos to U.S. dollars was recognized in "Net foreign exchange loss".
[2]

(1) A s of December 31, 20 17 , potential ordinary shares of 1,090,060 , relating to the stock option plan were excluded from the calculation of diluted loss per share as the loss in 2017 is anti-dilutive.

[3]

(*) E xclude discontinued operations – Moroc c o.

[4]
(**) Discontinued operations did not generate any income tax expense.
[5]
(*) Exclude discontinued operations - Morocco.
v3.19.1
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Statement of comprehensive income [abstract]      
(LOSS)/PROFIT FROM CONTINUING OPERATIONS [1] $ 20,486 $ (13,568) $ 3,357 [2]
LOSS FROM DISCONTINUED OPERATIONS (**) [1] 0 [3] 0 [3] (3,206) [2]
(LOSS)/PROFIT FOR THE YEAR 20,486 (13,568) 151
Other comprehensive income(loss) to be reclassified to profit and loss in subsequent periods:      
Cash flow/net investment hedge (Note 15) (1,190) (26,329) 13,971
Tax effect on hedge 0 (402) (2,921)
Translation differences (88,755) 22,934 15,701
Other comprehensive income/(loss) (89,945) (2,993) 32,593
Total comprehensive (loss)/income (69,459) (16,561) 32,744
Total comprehensive income/(loss) attributable to:      
Owners of the parent (69,709) (19,251) 32,652
Non-controlling interest 251 2,690 92
Total comprehensive (loss)/income $ (69,459) $ (16,561) $ 32,744
[1]

(1) A s of December 31, 20 17 , potential ordinary shares of 1,090,060 , relating to the stock option plan were excluded from the calculation of diluted loss per share as the loss in 2017 is anti-dilutive.

[2]

(*) E xclude discontinued operations – Moroc c o.

[3]
(**) Discontinued operations did not generate any income tax expense.
v3.19.1
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - EXCLUDING DISCONTINUED OPERATIONS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Disclosure Of Operating Segments [Line Items]      
(LOSS)/PROFIT FROM CONTINUING OPERATIONS [1] $ 20,486 $ (13,568) $ 3,357 [2]
LOSS FROM DISCONTINUED OPERATIONS (**) [1] 0 [3] 0 [3] (3,206) [2]
(LOSS)/PROFIT FOR THE YEAR 20,486 (13,568) 151
Other comprehensive income(loss) to be reclassified to profit and loss in subsequent periods:      
Cash flow/net investment hedge (Note 15) (1,190) (26,329) 13,971
Tax effect on hedge 0 (402) (2,921)
Translation differences (88,755) 22,934 15,701
Other comprehensive income/(loss) (89,945) (2,993) 32,593
Total comprehensive (loss)/income (69,459) (16,561) 32,744
Total comprehensive income/(loss) attributable to:      
Owners of the parent (69,709) (19,251) 32,652
Non-controlling interest $ 251 $ 2,690 $ 92
[1]

(1) A s of December 31, 20 17 , potential ordinary shares of 1,090,060 , relating to the stock option plan were excluded from the calculation of diluted loss per share as the loss in 2017 is anti-dilutive.

[2]

(*) E xclude discontinued operations – Moroc c o.

[3]
(**) Discontinued operations did not generate any income tax expense.
v3.19.1
CONSOLIDATED STATEMENTS OF CASH FLOW - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash flows from (used in) operating activities [abstract]      
Accounting profit $ 33,900,000 $ (1,035,000) $ 8,564,000
Adjustments to reconcile profit (loss) [abstract]      
Amortization and depreciation 95,245,000 104,421,000 97,364,000
Adjustments For Depreciation And Amortisation Expense 95,245,000 104,421,000 97,364,000
Impairment losses 1,656,000 627,000 1,902,000
Changes in provisions 11,124,000 4,364,000 20,312,000
Adjustments for share-based payments 6,417,000 4,923,000 1,535,000
Grants released to income (1,000,000) (860,000) (673,000)
Net losses on disposal of fixed assets 1,984,000 4,106,000 1,063,000
Net losses on disposal of financial assets 0 0 0
Finance income (18,843,000) (7,858,000) (7,188,000)
Adjustments For Finance Income 18,843,000 7,858,000 7,188,000
Finance costs 45,612,000 [1] 78,145,000 [1] 59,151,000
Adjustments For Finance Costs 45,612,000 78,145,000 59,151,000
Net foreign exchange differences 29,015,000 [1] 23,427,000 56,494,000
Adjustments For Unrealised Foreign Exchange Losses Gains 29,075,000 23,426,000 56,494,000
Adjustments For Fair Value Gains Losses (179,000) (230,000) (675,000)
Change in fair value of financial instruments (179,000) (230,000) (675,000)
Changes in other gains and own work capitalized (180,000) 2,423,000 (49,540,000)
Adjustments For Reconcile Profit (Loss) 170,911,000 213,487,000 179,745,000
Changes in working capital [abstract]      
Changes in trade and other receivables (6,936,000) (31,486,000) 62,409,000
Changes in trade and other payables (2,588,000) 11,507,000 22,004,000
Other payables (36,094,000) (12,872,000) (17,799,000)
Increase (decrease) in working capital (45,618,000) (32,851,000) 66,614,000
Interest paid (49,477,000) (76,496,000) (73,168,000)
Interest received 674,000 49,014,000 3,683,000
Income tax paid (20,446,000) (20,587,000) (24,294,000)
Other payments 8,757,000 17,080,000 19,198,000
Cash flows from (used in) operations before changes in working capital (78,006,000) (65,149,000) (112,977,000)
Net cash flow from operating activities 81,187,000 114,452,000 141,946,000
Cash flows from (used in) investing activities [abstract]      
Payments for acquisition of intangible assets (24,813,000) (28,439,000) (30,000,000)
Payments for acquisition of property, plant and equipment (16,355,000) (48,423,000) (39,851,000)
Acquisition of subsidiaries, net of cash acquired 0 (14,512,000) (8,638,000)
Other cash payments to acquire equity or debt instruments of other entities, classified as investing activities 0 0 0
Payments for financial instruments 0 0 0
Proceeds from sale of PP&E and intangible assets 0 431,000 978,000
Other cash receipts from sales of equity or debt instruments of other entities, classified as investing activities 0 0 0
Proceeds from sale of subsidiaries 0 0 2,435,000
Net cash flow used in investment activities (41,168,000) (90,943,000) (75,076,000)
Cash flows from (used in) financing activities [abstract]      
Proceeds from issuance of common stock 0    
Proceeds from borrowings from third parties 58,462,000 474,465,000 235,000
Proceeds from borrowings from group companies 0 0 0
Repayment of borrowings from third parties (81,675,000) (534,460,000) (62,930,000)
Dividends paid 2,318,000 24,353,000 0
Acquisition of treasury shares 8,178,000 0 0
Net cash flow provided by/(used in) financing activities (33,709,000) (84,348,000) (62,695,000)
Net increase in cash and cash equivalents 6,310,000 (60,839,000) 4,175,000
Exchange differences (14,546,000) 8,566,000 5,840,000
Cash and cash equivalents at beginning of year 141,762,000 194,035,000 184,020,000
Cash and cash equivalents at end of year $ 133,526,000 $ 141,762,000 $ 194,035,000
[1]
(1) The year ended December 31, 2016 contains the impacts of the CVI termination. The reversal of the principal amount of 41,749 thousand U.S. dollars was recognized in "Other gains and own work capitalized", the interest reversal of 19,936 thousand U.S. dollars was recognized in "Finance costs" and the loss of 35,373 thousand U.S. dollars on the conversion of Argentine pesos to U.S. dollars was recognized in "Net foreign exchange loss".
v3.19.1
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($)
Total
Share capital
Share premium [member]
Treasury Shares Member
Reserve to acquisition of non - controlling interest [member]
Retained earnings/(losses)
Translation differences
Cash flow/net investment hedge
Stock-based compensation
Non-controlling interests [member]
Total owners of the parent company
Equity at beginning of period at Dec. 31, 2015 $ 397,791,000 $ 48,000 $ 639,435,000 $ 0 $ 0 $ (53,663,000) $ (209,224,000) $ 18,629,000 $ 2,566,000 $ 0 $ 397,791,000
Comprehensive income/(loss) for the year 32,744,000 0 0 0 0 65,000 15,695,000 16,892,000 0 92,000 32,652,000
Loss for the year 151,000 0 0 0 0 65,000 0 0 0 86,000 65,000
Other comprehensive income/(loss) 32,593,000 0 0 0 0 0 15,695,000 16,892,000 0 6,000 32,587,000
Reserve for acquisition of non - controlling interest (1,057,000) 0 0 0 (1,057,000) 0 0 0 0 0 (1,057,000)
Stock-based compensation 1,535,000 0 0 0 0 0 0 0 1,535,000 0 1,535,000
Non-controlling interest (810,000) 0 0 0 0 0 0 0 0 (810,000) 0
Equity at end of period at Dec. 31, 2016 430,203,000 48,000 639,435,000 0 (1,057,000) (53,598,000) (193,529,000) 35,521,000 4,101,000 (718,000) 430,921,000
Comprehensive income/(loss) for the year (16,561,000) 0 0 0 0 (16,790,000) 23,466,000 (25,927,000) 0 2,690,000 (19,251,000)
Loss for the year (13,568,000) 0 0 0 0 (16,790,000) 0 0 0 3,222,000 (16,790,000)
Other comprehensive income/(loss) (2,993,000) 0 0 0 0 0 23,466,000 (25,927,000) 0 (532,000) (2,461,000)
Reserve for acquisition of non - controlling interest (22,474,000) 0 0 0 (22,474,000) 0 0 0 0 0 (22,474,000)
Dividends 24,479,000 0 0 0 0 (24,147,000) 0 0 0 (332,000) (24,147,000)
Stock-based compensation 3,314,000 0 0 0 0 0 0 0 3,314,000 0 3,314,000
Non-controlling interest 7,836,000 0 0 0 0 0 0 0 0 7,836,000 0
Equity at end of period at Dec. 31, 2017 377,839,000 48,000 639,435,000 0 (23,531,000) (94,535,000) (170,063,000) 9,594,000 7,415,000 9,476,000 368,363,000
Reserve for acquisition of non-controlling interest (23,531,000)                    
Comprehensive income/(loss) for the year (69,459,000) 0 0 0 0 18,540,000 (87,059,000) (1,190,000) 0 251,000 (69,709,000)
Loss for the year 20,486,000 0 0 0 0 18,540,000 0 0 0 1,946,000 18,540,000
Other comprehensive income/(loss) (89,945,000) 0 0 0 0 0 (87,059,000) (1,190,000) 0 (1,695,000) (88,249,000)
Compensation of retained losses 0 0 (24,147,000) 0 0 24,147,000 0 0 0 0 0
Increase of share capital 1,000 1,000 0 0 0 0 0 0 0 0 1,000
Dividends 1,186,000 0 0 0 0 0 0 0 0 (1,186,000) 0
Stock-based compensation 5,551,000 0 0 0 0 0 0 0 5,551,000 0 5,551,000
IPO Proceeds, gross 0                    
Non controlling interest participation 0 0 0 0 0 0 0 0 0 0 0
Aquisition of treasury shares (8,178,000) 0 0 (8,178,000) 0 0 0 0 0 0 (8,178,000)
Monetary correction caused by hyperinflation 35,524,000 0 0 0 0 35,524,000 0 0 0 0 35,524,000
Equity at end of period at Dec. 31, 2018 340,092,000 $ 49,000 $ 615,288,000 $ (8,178,000) $ (23,531,000) $ (16,325,000) $ (257,121,000) $ 8,404,000 $ 12,966,000 $ 8,541,000 $ 331,551,000
Reserve for acquisition of non-controlling interest $ (23,531,000)                    
v3.19.1
COMPANY ACTIVITY AND CORPORATE INFORMATION
12 Months Ended
Dec. 31, 2018
Disclosure of notes and other explanatory information [abstract]  
Disclosure of notes and other explanatory information [text block]
  • COMPANY ACTIVITY AND CORPORATE INFORMATION
  • Description of business

Atento S.A. (the “Company”) and its subsidiaries (“Atento Group”) offer customer relationship management services to their clients through contact centers or multichannel platforms.

The Company was incorporated on March 5, 2014 under the laws of the Grand­Duchy of Luxembourg, with its registered office in Luxembourg at 4, Rue Lou Hemmer.

The majority direct shareholder of the Company, ATALAYA Luxco PIKCo, S.C.A. (Luxembourg), is a holding company incorporated under the laws of the Grand-Duchy of Luxembourg.

The Company may also act as the guarantor of loans and securities, as well as assisting companies in which it holds direct or indirect interests or that form part of its group. The Company may secure funds, with the exception of public offerings, through any kind of lending, or through the issuance of bonds, securities or debt instruments in general.

The Company may also carry on any commercial, industrial, financial, real estate business or intellectual property related activity that it deems necessary to meet the aforementioned corporate purposes.

The corporate purpose of its subsidiaries, with the exception of the intermediate holding companies, is to establish, manage and operate CRM centers through multichannel platforms; provide telemarketing, marketing and “call center” services through service agencies or in any other format currently existing or which may be developed in the future by the Atento Group; provide telecommunications, logistics, telecommunications system management, data transmission, processing and internet services and to promote new technologies in these areas; offer consultancy and advisory services to clients in all areas in connection with telecommunications, processing, integration systems and new technologies, and other services related to the above. The Company’s ordinary shares are traded on NYSE under the symbol “ATTO”.

v3.19.1
BASIS OF PRESENTATION OF THE CONSOLIDATED FINANCIAL STATEMENTS
12 Months Ended
Dec. 31, 2018
Disclosure of basis of consolidation [abstract]  
Disclosure of basis of consolidation [text block]

2) BASIS OF PRESENTATION OF THE CONSOLIDATED FINANCIAL STATEMENTS

a) Statement of compliance with IFRS and basis of preparation

The consolidated financial statements were prepared in accordance with International Financial Reporting Standards (“IFRS”) issued by the International Accounting Standard Board (“IASB”) prevailing at December 31, 2018. The consolidated financial statements have been prepared on a historical costs basis, except for Argentina that is adjusted for inflation as required by IAS 29 Financial Reporting in Hyperinflationary Economies in Argentina and derivative financial instruments and financial liability related to the option for acquisition of non-controlling interest, which have been measured at fair value.

The consolidated financial statements have been approved by the Board of Directors (the “Board”) and Audit Committee of the Company, Atento S.A. in Luxembourg on March 1, 2019. These consolidated financial statements have not been yet approved by the General Shareholders Meeting of the Parent Company. However, the Board of Directors expects them to be approved without amendments

The preparation of financial statements under IFRS as issued by the IASB requires the use of certain key accounting estimates. IFRS also requires Management to exercise judgment throughout the process of applying the Atento Group’s accounting policies. Note 3s discloses the areas requiring a more significant degree of judgment or complexity and the areas where assumptions and estimates are more relevant to the consolidated financial statements. Also, Note 3 contains a detailed description of the most significant accounting policies used to prepare these consolidated financial statements.

The amounts in these consolidated financial statements, comprising the consolidated statements of financial position, the consolidated statements of operations, the consolidated statements of comprehensive income/(loss), the consolidated statements of changes in equity, the consolidated statements of cash flows, and the notes thereto are expressed in thousands of U.S. dollars, unless otherwise indicated.

b) Comparative information

The main changes are:

On September 2, 2016, the Company through its direct subsidiary Atento Brasil acquired 81,49%, the controlling interest of RBrasil Soluções S.A. (RBrasil) and on September 30, 2016 the Company through its direct subsidiary Atento Teleservicios España sold 100% of Atento Morocco. In accordance with IFRS 5 the results of the operations in Morocco are presented in consolidated statements of operations as discontinued operations for the year ended December 31, 2016.

On June 9, 2017, the Company, through its subsidiary Atento Brasil, acquired control of Interfile Serviços de BPO Ltda. and of Interservicer – Serviços em Crédito Imobiliário Ltda. (jointly, “Interfile”), a leading provider of BPO services and solutions, including credit origination, for the banking and financial services sector in Brazil. See more details of this acquisition in Note 5.

c) Consolidated statements of cash flows

The consolidated statements of cash flows has been prepared using the indirect method pursuant to IAS 7, “Statement of Cash Flows. Foreign currency transactions are translated at the average exchange rate for the period, in those cases where the currency differs from the presentation currency of Atento Group (U.S. dollar), as indicated in Note 3c. The effect of exchange rate fluctuations on cash and cash equivalents, maintained or owed, in foreign currency, is presented in the statements of cash flows to reconcile cash and cash equivalents at the beginning of the year and at year-end.

v3.19.1
ACCOUNTING POLICIES
12 Months Ended
Dec. 31, 2018
Disclosure Of Significant Accounting Policies Abstract  
Disclosure Of Summary Of Significant Accounting Policies Explanatory

3) ACCOUNTING POLICIES

The main accounting policies used to prepare the accompanying consolidated financial statements are set out below.

a) Principles of consolidation, business combinations and goodwill

(i) Subsidiaries

Subsidiaries are all entities (including structured entities) over which the Atento Group has control. The Atento Group controls an entity when the Atento Group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power to direct the activities of the entity. Subsidiaries are fully consolidated from the date on which control is obtained by the Group, until the Group loses control of the entity.

Intercompany transactions, balances and unrealized gains on transactions between the Atento Group companies are eliminated on consolidation, except those arisen from exchange variations. Unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the transferred asset. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the Atento Group.

Non-controlling interests in the results and equity of subsidiaries are shown separately in the consolidated statements of operations, statement of comprehensive income/(loss), statement of changes in equity and financial position, respectively.

(ii) Business combinations and goodwill

When the Atento Group acquires a business, it assesses the financial assets and liabilities assumed for appropriate classification and designation in accordance with the contractual terms, economic circumstances and pertinent conditions as at the acquisition date. This includes the separation of embedded derivatives in host contracts by the acquire.

Any contingent consideration to be transferred by the acquirer will be recognized at fair value at the acquisition date. Contingent consideration classified as equity is not remeasured and its subsequent settlement is accounted for within equity. Contingent consideration classified as an asset or liability that is a financial instrument and within the scope of IFRS 9 Financial Instruments, is measured at fair value with the changes in fair value recognized in the statement of profit or loss in accordance with IFRS 9. Other contingent consideration that is not within the scope of IFRS 9 is measured at fair value at each reporting date with changes in fair value recognized in profit or loss.

Goodwill is initially measured as any excess of the total consideration transferred over the net identifiable assets acquired and liabilities assumed. If the fair value of the net assets acquired is greater than the total consideration transferred, the difference is recognized in the statements of operations as a gain from a bargain purchase. Goodwill acquired in a business combination is allocated to each cash¬-generating unit, or group of cash-¬generating units, that are expected to benefit from the synergies arising in the business combination. Goodwill is tested for impairment annually or whrenever if there are certain events or changes in circumstances indicating potential impairment. The carrying amount of the assets allocated to each cash-generating unit is then compared with its recoverable amount, which is the greater of its value in use or fair value less costs to sell. Any impairment loss is immediately taken to the statements of operations and may not be reversed (see Note 3h).

b) Functional and presentation currency

Items included in the financial statements of each of the Atento Group’s entities are measured using the currency of the primary economic environment in which the entities operate (‘the functional currency’). The consolidated financial statements are presented in thousands of U.S. dollars, which is the presentation currency of the Atento Group.

c) Foreign currency translation

The results and financial position of all Atento Group entities whose functional currency is different from the presentation currency are translated into the presentation currency as follow:

Statements of financial position assets and liabilities are translated at the exchange rate prevailing at the reporting date.

Statements of operations items are translated at average exchange rates for the year (unless this average is not a reasonable approximation of the cumulative effect of the rates prevailing on the transaction dates, in which case income and expenses are translated at the rate on the dates of the transactions), except for the Statements of operations of the Argentina subsidiary, which are converted by the exchange rates prevailing at the reporting date, since in that country the economy is considered hyperinflationary and therefore, for the purposes of conversion, the rules of IAS 21 are applied.

Proceeds and payments shown on the statements of cash flows are translated at the average exchange rates for the period (unless this average is not a reasonable approximation of the cumulative effect of the rates prevailing on the transaction dates, in which case proceeds and payments are translated at the rate on the dates of the transactions). Proceeds and payments for subsidiary located in Argentina shown on the statements of cash flows are translated at the exchange rates prevailing at the reporting date.

Retained earnings are translated at historical exchange rates.

All resulting exchange differences are recognized in other comprehensive income/(loss).

Goodwill and fair value adjustments to net assets arising from the acquisition of a foreign company are considered to be assets and liabilities of the foreign company and are translated at year­end exchange rates. Exchange differences arising are recognized in other comprehensive income/(loss).

d) Foreign currency transactions

Transactions in foreign currency are translated into the functional currency using the exchange rates prevailing at the date of the transactions or valuation date, in the case of items being remeasured. Foreign exchange gains and losses resulting from the settlement of these transactions and from the translation at reporting date exchange rates of monetary assets and liabilities denominated in foreign currencies are recognized in the statements of operations, except when deferred in other comprehensive income/(loss).

All differences arising on non–trading activities are taken to other operating income/expense in the statements of operations, with the exception of the effective portion of the differences on cash flows and net investment hedges that are accounted for as an effective hedge against a net investment in a foreign entity. These differences are recognised in other comprehensive income/(loss) (OCI) until the hedge settlement and disposal of the net investment, at which time, they are recognised in the statements of operations. Tax charges and credits attributable to exchange differences on those monetary items are also recorded in OCI.

Non–monetary items that are measured at historical cost in a foreign currency are translated using the exchange rates as at the date of recognition.

e) Segment information

Segment information is presented in accordance with management information reviewed by the Chief Operating Decision Maker (“CODM”). The CODM, responsible for allocating resources and assessing performance of operational segments, has been identified as the Chief Executive Officer (“CEO”) responsible for strategic decisions.

The CODM considers the business from a geographical perspective and analyzes it across three operational segments—EMEA, Americas and Brazil.

f) Intangible assets

Intangible assets are stated at acquisition cost, less any accumulated amortization and any accumulated impairment losses.

The intangible assets acquired in a business combination are initially measured at their fair value as of the acquisition date.

The useful lives of intangible assets are assessed on a case­by­case basis to be either finite or indefinite. Intangible assets with finite lives are amortized on a straight line basis over their estimated useful life and assessed for impairment whenever events or changes indicate that their carrying amount may not be recoverable. Intangible assets that have an indefinite useful life are not subject to amortization and are tested annually for impairment. The amortization charge on intangible assets is recognized in the consolidated statements of operations under “Amortization”.

Amortization methods and useful lives are revised annually at the end of each reporting period and, where appropriate, adjusted prospectively.

Customer bases

Customer bases acquired in a business combination are recognised at fair value at the acquisition date and have finite useful lives and are subsequently carried at cost less accumulated amortization, which has been estimated to be between seven and twelve years. The customer bases relate to all agreements, tacit or explicit, entered into between the Atento Group and the former owner of the Atento Group and between the Atento Group and other customers, in relation to the provision of services, and that were acquired as part of the business combinations.

Software

Software is measured at cost (at acquisition or development costs) and amortized on a straight line basis over its useful life, generally estimated to be between three and ten years. Maintenance cost of software is expensed as incurred.

Development costs directly attributable to the design and creation of software that are identifiable and unique, and that may be controlled by the Group, are recognized as an intangible asset providing the following conditions are met:

It is technically feasible for the intangible asset to be completed so that it will be available for use or sale.

Management intends to complete the asset for use or sale.

The Group has the capacity to use or sell the asset.

It is possible to show evidence of how the intangible asset will generate probable future economic benefits.

Adequate technical, financial and other resources are available to complete the development and to use or sell the intangible asset.

The outlay attributable to the intangible asset during its development can be reliably determined.

Directly attributable costs capitalized in the value of the software include the cost of personnel developing the programs and an appropriate percentage of overheads.

Costs that do not meet the criteria listed above are recognized as an expense as incurred. Expenditure for an intangible asset that is initially recognized within expenses for the period may not be subsequently recognized as intangible assets.

Other intangible assets

Other intangible assets mainly include payment of loyalty incentives which are amortized on a straight line basis over the term of the agreements which range from four to ten years.

g) Property, plant and equipment

Property, plant and equipment are measured at cost, less accumulated depreciation and any impairment losses.

Acquisition costs include, when appropriate, the initial estimates of decommissioning, withdrawal and site reconditioning costs when the Atento Group is obliged to bear this expenditure as a condition of using the assets. Repairs that do not prolong the useful life of the assets and maintenance costs are recognized directly in the statements of operations. Costs that prolong or improve the life of the asset are capitalized as an increase in the cost of the asset.

Property, plant and equipment acquired in a business combination are initially measured at fair value as of the acquisition date.

The Atento Group assesses the need to write down, if appropriate, the carrying amount of each item of property, plant and equipment to its period-end recoverable amount whenever there are indications that the assets’ carrying amount may not be fully recoverable through the generation of sufficient future revenue. The impairment allowance is reversed if the factors giving rise to the impairment cease to exist.

The depreciation charge for items of property, plant and equipment is recognized in the consolidated statements of operations under “Depreciation”.

Depreciation is calculated on a straight line basis over the useful life of the asset applying individual rates to each type of asset, which are reviewed at the end of each reporting period.

The useful lives generally used by the Atento Group are as follow:

Years of useful life
Buildings5 - 40
Plant and machinery3 - 6
Furniture, tools1 - 10
Other tangible assets5 - 8

h) Impairment of non­current assets

The Atento Group assesses as of each reporting date whether there is an indicator that a non­current asset may be impaired. If any such indicator exists, or when annual impairment testing for an asset is required (e.g. goodwill), the Atento Group estimates the asset’s recoverable amount. An asset’s recoverable amount is the higher of its fair value less costs to sell or its value in use. In assessing the value in use, the estimated future cash flow is discounted to its present value using a pre­tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. Where the carrying amount of an asset exceeds its recoverable amount, the asset is considered to be impaired. In this case, the carrying amount is written down to its recoverable amount, and the resulting loss is recognized in the statements of operations. Future depreciation/amortization charges are adjusted to reflect the asset’s new carrying amount over its remaining useful life. Management analyzes the impairment of each asset individually, except in the case of assets that generate cash flow which are interdependent on those generated by other assets (cash generating units – “CGU”).

The Atento Group bases the calculation of impairment on the business plans of the various cash generating units to which the assets are allocated. These business plans cover five years. A long-term growth rate is calculated and applied to project future cash flows after the fifth year.

When there are new events or changes in circumstances that indicate that a previously recognized impairment loss no longer exists or has been decreased, a new estimate of the asset’s recoverable amount is made. A previously recognized impairment loss is reversed only if there has been a change in the estimates used to determine the asset’s recoverable amount since the last impairment loss was recognized. If that is the case, the carrying amount of the asset is increased to its recoverable amount. The reversal is limited to the carrying amount that would have been determined if no impairment loss been recognized for the asset in prior years. This reversal is recognized in the statements of operations and the depreciation charge is adjusted in future periods to reflect the asset’s revised carrying amount. Impairment losses relating to goodwill cannot be reversed in future periods.

i) Financial assets and liabilities

Financial assets

Initial recognition and measurement

Financial assets are classified, at initial recognition, as subsequently measured at amortised cost, fair value through other comprehensive income (OCI), and fair value through profit or loss.

The Atento Group has classified all of its financial assets as amortized cost, except for derivative financial instruments.

All purchases and sales of financial assets are recognized on the statement of financial position on the transaction date, i.e. when the commitment is made to purchase or sell the asset.

A financial asset is fully or partially derecognized from the statement of financial position only when:

  • The rights to receive cash flow from the asset have expired.
  • The Atento Group has assumed an obligation to pay the cash flow received from the asset to a third party or
  • The Atento Group has transferred its rights to receive cash flow from the asset to a third party, thereby substantially transferring all of the risks and rewards of the asset.

Financial assets and financial liabilities are offset and presented on a net basis in the statement of financial position when a legally enforceable right exists to offset the amounts recognized and the Atento Group intends to settle the assets and liabilities net or to simultaneously realize the asset and cancel the liability.

Amortized cost financial assets include fixed­maturity financial assets not listed in active markets and which are not derivatives. They are classified as current assets, except for those maturing more than twelve months after the reporting date, which are classified as non­current assets. Loans and receivables are initially recognized at fair value plus any transaction costs, and are subsequently measured at amortized cost, using the effective interest method. Interest calculated using the effective interest method is recognized under finance income in the statements of operations.

The Atento Group assesses at each reporting date whether a financial asset is impaired. Where there is objective evidence of impairment of a financial asset valued at amortized cost, the amount of the loss to be taken to the statements of operations is measured as the difference between the carrying amount and the present value of estimated future cash flow, discounted at the asset’s original effective interest rate. The carrying amount of the asset is reduced and the amount of the impairment loss is expensed in the consolidated statements of operations.

Trade receivables

Trade receivables are amounts due from customers for the sale of services in the normal course of business. Receivables slated for collection in twelve months or less are classified as current assets; otherwise, the balances are considered non­current assets.

Trade receivables are recognized at the original invoice amount. An impairment provision is recorded when there is objective evidence of collection risk. The amount of the impairment provision is calculated as the difference between the carrying amount of the doubtful trade receivables and their recoverable amount. In general, cash flow relating to short-term receivables is not discounted.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and in banks, demand deposits and other highly liquid investments with an original maturity of three months or less, which are subject to an insignificant risk of changes in value.

Financial liabilities

Debt with third parties (Loans and Borrowings)

Debt with third parties is initially recorded at the fair value of the consideration received, less any directly attributable transaction costs. After initial recognition, these financial liabilities are measured at amortized cost using the effective interest method. Any difference between the cash received (net of transaction costs) and the repayment value is recognized in the statements of operations over the life of the debt. Debt with third parties is considered to be non­current when the maturity date is longer than twelve months from the reporting date, or when the Atento Group has full discretion to defer settlement for at least another twelve months from that date.

Financial liabilities are derecognized in the statement of financial position when the respective obligation is settled, cancelled or matures.

Trade payables

Trade payables are payment obligations in respect of goods or services received from suppliers in the ordinary course of business. Trade payables falling due in twelve months or less are classified as current liabilities; otherwise, the balances are considered as non­current liabilities.

j) Derivative financial instruments and hedging

Derivative financial instruments are initially recognized at their fair values on the date on which the derivative contract is entered into and are subsequently re-measured at their fair value.

Any gains or losses resulting from changes in the fair value of a derivative instrument are recorded in the statements of operations, except for the effective portion of cash flow and net investment hedges, which is recognized in other comprehensive income/(loss) and later reclassified to profit or loss when the hedge item affects the statements of operations.

At the inception of the derivative instrument contract, the Atento Group documents the relationship between the hedging instruments and the hedged items, as well as the risk management objectives and the strategy for groups of hedges. The Atento Group also documents its assessment, both at the inception of the hedge and throughout the term thereof, of whether the derivatives used are highly effective at offsetting changes in the fair value or cash flow of the hedged items.

The fair value of a hedging derivative is classified as a non-current asset or liability, as applicable, if the remaining maturity of the hedged item exceeds twelve months, otherwise it is classified as a current asset or liability.

For purpose of hedge accounting the Atento Group designates certain derivatives as either:

Cash flow hedges

Cash flow hedge is defined as a hedge of the exposure to variability in cash flows that is attributable to a particular risk associated with a recognized asset or liability (such as all or some future interest payments on variable rate debt) or a highly probable forecast transaction that could affect profit or loss.

The effective portion of the gain or loss on the hedging instrument is recognized in other comprehensive income in the cash flow hedge reserve in equity. If a hedge of a forecast transaction subsequently results in the recognition of a financial asset or a financial liability, any gain or loss on the hedging instrument that was previously recognized directly in equity is recycled from reserves into the statements of operations in the same period(s) in which the financial asset or liability affects profit or loss.

Net investment hedges

Gains or losses on the hedging instrument relating to the effective portion of the hedge are recognized in other comprehensive income. Gains or losses relating to the ineffective portion are recognized in the statements of operations. Gains and losses accumulated in equity are included in the statements of operations when the foreign operation is partially disposed of or sold.

k) Share capital

The ordinary shares of the Company are classified in equity (see Note 19).

Issuance costs directly attributable to the issuance of new shares or options are deducted from the proceeds raised in equity, net of the tax effect.

l) Treasury shares

Own equity instruments that are reacquired (treasury shares) are recognized at cost and deducted from equity. No gain or loss is recognized in profit or loss on the purchase, sale, issue or cancellation of the Atento Group’s own equity instruments. Any difference between the carrying amount and the consideration, if reissued, is recognized in the share premium.

m) Provisions

Provisions are recognized when the Atento Group has a present obligation (legal or constructive) as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation. Provisions for restructuring include penalties for the cancellation of leases and other contracts, as well as employee termination payments. Provisions are not recognized for future operating losses.

When the Atento Group is virtually certain that some or all of a provision is to be reimbursed, for example under an insurance contract, a separate asset is recognized in the statement of financial position, and the expense relating to the provision is recorded in the statements of operations, net of the expected reimbursement.

Provisions are measured at the present value of expenditure expected to be required to settle the obligation, using a pre­tax rate that reflects current market assessments of the time value of money and the specific risks inherent to the obligation. Any increase in the provision due to the passage of time is recognized as a finance cost.

Contingent liabilities represent possible obligations to third parties, and existing obligations that are not recognized, given that it is not likely that an outflow of economic resources will be required in order to settle the obligation or because the amount cannot be reliably estimated. Contingent liabilities are not recognized on the consolidated statement of financial position unless they are recorded as part of a business combination.

n) Employee benefit

Share­based payments

Atento S.A. has a share­based compensation plan, under which the subsidiaries of Atento S.A. receive services from employees as consideration for the equity instruments of Atento S.A. The subsidiaries themselves are not party to any of the contracts; Atento S.A. settles these agreements. The plan offers various instruments (award agreements, stock options, restricted stock units, etc.), but so far only six types of restricted stock units (“RSUs”) have been granted to selected employees, being two on December 3, 2014, two on July 1, 2016 one on July 3, 2017 and one on July 2, 2018.

The fair value of the employee services received in exchange for the grant of the RSUs is recognized as an expense in the consolidated financial statements of Atento S.A. The total amount to be expensed is determined with reference to the fair value of the RSUs granted:

Including any market performance conditions (for example, an entity’s share price);

Excluding the impact of any service and non­market performance vesting conditions (for example, profitability, sales growth targets and remaining an employee of the entity over a specified time period); and

Including the impact of any non­vesting conditions (for example, the requirement for employees to save or hold shares for a specific period of time).

At the end of each reporting period, the group revises its estimates of the number of RSUs that are expected to vest based on the non­market vesting conditions and service conditions. It recognizes the impact of the revisions to original estimates, if any, in the statements of operations, with a corresponding adjustment to equity.

When the RSUs vest, Atento S.A. issues new shares or buys them back in the market. The proceeds received, net of any directly attributable transaction costs, are credited to share capital (nominal value) and share premium.

The social security contributions payable in connection with the granting of the share options is considered an integral part of the grant itself, and the charge will be treated as a cash­settled transaction.

Termination benefits

Termination benefits are paid to employees when the Atento Group decides to terminate their employment contracts prior to the usual retirement age or when the employee agrees to resign voluntarily in exchange for these benefits. The Atento Group recognizes these benefits as an expense for the year, at the earliest of the following dates: (a) when the Atento Group is no longer able to withdraw the offer for these benefits; or (b) when the Atento Group company recognizes the costs of a restructuring effort as per IAS 37, “Provisions, Contingent Liabilities and Contingent Assets”, and when this restructuring entails the payment of termination benefits. When benefits are offered in order to encourage the voluntary resignation of employees, termination benefits are measured on the basis of the number of employees expected to accept the offer. Benefits to be paid in more than twelve months from the reporting date are discounted to their present value.

o) Income tax

The income tax expense includes all the expenses and credits arising from the corporate income tax levied on all the Atento Group companies.

Income tax expenses for each period represent the aggregate amounts of current and deferred taxes, if applicable.

Current tax assets and liabilities for the current and prior periods are measured at the amount expected to be recovered from or paid to the tax authorities. The tax rates and tax laws used to compute the amounts are those that are enacted at the reporting date in each country in which the Atento Group operates. The Atento Group determines deferred tax assets and liabilities by applying the tax rates that will be effective when the corresponding asset is received or the liability settled, based on tax rates and tax laws that are enacted (or substantively enacted) at the reporting date.

Deferred taxes are calculated on temporary differences arising from differences between the tax basis of assets and liabilities and their carrying amounts for financial reporting purposes.

Deferred tax assets also arise from unused tax credits and tax loss carryforwards.

The carrying amounts of deferred income tax assets are reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient future taxable profits will be available to allow all or part of that deferred tax asset to be utilized. Unrecognized deferred income tax assets are reassessed at each reporting date and are recognized to the extent that it has become probable that future taxable profits will allow the deferred tax asset to be recovered.

Deferred tax liabilities associated with investments in subsidiaries and branches are not recognized when the timing of the reversal can be controlled by the parent company, and it is probable that the temporary differences will not reverse in the foreseeable future.

Deferred income tax relating to items directly recognized in equity is also recognized in equity. Deferred tax assets and liabilities resulting from business combinations are added to or deducted from goodwill.

Deferred tax assets and liabilities are offset only if a legally enforceable right exists to offset current tax assets against current income tax liabilities and the deferred taxes relate to the same taxable entity and the same taxation authority.

p) Revenue and Expenses

Revenue and Expenses are recognized in the statements of operations an accrual basis, regardless of when actual payment or collection occurs.

The Atento Group’s incorporation, start­up and research expenses, as well as expenses that do not qualify for capitalization under IFRS, are recognized in the consolidated statements of operations when incurred and classified in accordance with their nature.

q) Interest income and expenses

Interest expenses incurred in the construction of any qualified asset are capitalized during the time necessary to complete the asset and prepare it for the intended use. All other interest expenses are expensed as incurred.

Interest income is recognized using the effective interest method. When a loan or a receivable has been impaired, the carrying amount is reduced to the recoverable amount, discounting the estimated future cash flow at the instrument’s original effective interest rate and recognizing the discount as a decrease in interest income. Interest income on impaired loans is recognized when the cash is collected or on the basis of the recovery of the costs when the loan is secured.

r) Leases (as lessee)

The Atento Group rents certain properties. Leases where the lessor does not transfer substantially all of the risks and benefits of ownership of the asset are classified as operating leases. Operating lease payments are recognized as an expense in the statements of operations on a straight line basis over the lease term.

Those lease arrangements under which the Atento Group holds the significant risks and benefits inherent in owning the leased item are treated as finance leases. Finance leases are capitalized as an asset at the inception of the lease period and classified according to their nature. Finance leases are capitalized at the lower of the present value of the minimum lease payments agreed, and the fair value of the leased asset. Lease payments are proportionally allocated to the principal of the lease liability and to finance charges. Finance charges are reflected in the statements of operations over the lease term so as to achieve a constant rate of interest on the balance pending repayment in each period.

s) Critical accounting estimates and assumptions

The preparation of consolidated financial statements under IFRS as issued by the IASB requires the use of certain assumptions and estimates that affect the carrying amount of assets and liabilities within the next financial year.

Some of the accounting policies applied in preparing the accompanying consolidated financial statements required Management to apply significant judgments in order to select the most appropriate assumptions for determining these estimates. These assumptions and estimates are based on Management experience, the advice of consultants and experts, forecasts and other circumstances and expectations prevailing at year end. Management’s evaluation takes into account the global economic situation in the sector in which the Atento Group operates, as well as the future outlook for the business. By virtue of their nature, these judgments are inherently subject to uncertainty. Consequently, actual results could differ substantially from the estimates and assumptions used. Should this occur, the values of the related assets and liabilities would be adjusted accordingly.

Although these estimates were made on the basis of the best information available at each reporting date on the events analyzed, events that take place in the future might make it necessary to change these estimates in coming years. Changes in accounting estimates would be applied prospectively in accordance with the requirements of IAS 8, “Accounting Policies, Changes in Accounting Estimates and Errors”, recognizing the effects of the changes in estimates in the related consolidated statements of operations.

An explanation of the estimates and judgments that entail a significant risk of leading to a material adjustment in the carrying amounts of assets and liabilities is as follow:

Impairment of goodwill

The Atento Group tests goodwill for impairment annually, in accordance with the accounting principle described in Note 3h. Goodwill is subject to impairment testing as part of the cash­generating unit to which it has been allocated. The recoverable amounts of cash­generating units defined in order to identify potential impairment in goodwill are determined on the basis of value in use, applying five­year financial forecasts based on the Atento Group’s strategic plans, approved and reviewed by Management. These calculations entail the use of assumptions and estimates, and require a significant degree of judgment. The main variables considered in the sensitivity analyses are growth rates, discount rates using the Weighted Average Cost of Capital (“WACC”) and the key business variables.

Deferred taxes

The Atento Group assesses the recoverability of deferred tax assets based on estimates of future earnings. The ability to recover these deferred amounts depends ultimately on the Atento Group’s ability to generate taxable earnings over the period in which the deferred tax assets remain deductible. This analysis is based on the estimated timing of the reversal of deferred tax liabilities, as well as estimates of taxable earnings, which are sourced from internal projections.

The appropriate classification of tax assets and liabilities depends on a series of factors, including estimates as to the timing and realization of deferred tax assets and the projected tax payment schedule. Actual income tax receipts and payments could differ from the estimates made by the Atento Group as a result of changes in tax legislation or unforeseen transactions that could affect the tax balances (see Note 20).

The Atento Group has recognized deferred tax assets corresponding to losses carried forward since, based on internal projections, it is probable that it will generate future taxable profits against which they may be utilized.

The carrying amount of deferred income tax assets is reviewed at each reporting date, and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of that deferred tax asset to be utilized. Unrecognized deferred income tax assets are reassessed at each reporting date and are recognized to the extent that it has become probable that future taxable profits will allow the deferred tax asset to be recovered.

Provisions and contingencies

Provisions are recognized when the Atento Group has a present obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. This obligation may be legal or constructive, deriving from, inter alia, regulations, contracts, customary practice or public commitments that would lead third parties to reasonably expect that the Atento Group will assume certain responsibilities. The amount of the provision is determined based on the best estimate of the outflow of resources embodying economic benefit that will be required to settle the obligation, taking into account all available information as of the reporting date, including the opinions of independent experts such as legal counsel or consultants.

No provision is recognized if the amount of liability cannot be estimated reliably. In such cases, the relevant information is disclosed in the notes to the consolidated financial statements.

Given the uncertainties inherent in the estimates used to determine the amount of provisions, actual outflows of resources may differ from the amounts recognized originally on the basis of these estimates (see Note 21).

Fair value of derivatives

The Atento Group uses derivative financial instruments to mitigate risks, primarily derived from possible fluctuations in exchange rates. Derivatives are recognized at the inception of the contract at fair value.

The fair values of derivative financial instruments are calculated on the basis of observable market data available, either in terms of market prices or through the application of valuation techniques. The valuation techniques used to calculate the fair value of derivative financial instruments include the discounting of future cash flow associated with the instruments, applying assumptions based on market conditions at the valuation date or using prices established for similar instruments, among others. These estimates are based on available market information and appropriate valuation techniques. The fair values calculated could differ significantly if other market assumptions and/or estimation techniques were applied.

t) Interest in subsidiaries

All subsidiaries are fully consolidated. Where necessary, the accounting policies of subsidiaries have been aligned to those adopted in the Atento Group.

The details of Atento Group subsidiaries at December 31, 2018 are as follow:

 NameRegistered addressLine of business% interestHolding company
Atento Luxco Midco, S.à.r.l.LuxembourgHolding company100Atento S.A.
Atento Luxco 1 S.A.LuxembourgHolding company100Atento Luxco Midco, S.à.r.l
Atalaya Luxco 2. S.à.r.l.LuxembourgHolding company100Atento Luxco 1. S.A.
Atalaya Luxco 3. S.à.r.l.LuxembourgHolding company100Atento Luxco 1. S.A.
Atento Argentina. S.A Buenos Aires (Argentina)Operation of call centers90Atalaya Luxco 2. S.à.r.l.
10Atalaya Luxco 3. S.à.r.l.
Global Rossolimo. S.L.UMadrid (Spain)Holding company100Atento Spain Holdco. S.L.U.
Atento Spain Holdco. S.L.UMadrid (Spain)Holding company100Atento Luxco 1. S.A.
Atento Spain Holdco 6. S.L.UMadrid (Spain)Holding company100Atento Spain Holdco. S.L.U.
Atento Spain Holdco 2. S.A.U Madrid (Spain)Holding company100Atento Spain Holdco 6. S.L.U.
Atento Teleservicios España. S.A.UMadrid (Spain)Operation of call centers100Atento Spain Holdco 2. S.A.U.
Atento Servicios Técnicos y Consultoría S.A.UMadrid (Spain)Execution of technological projects and services, and consultancy services100Atento Teleservicios España S.A.U.
Atento Impulsa. S.A.UBarcelona (Spain)Management of specialized employment centers for disabled workers100Atento Teleservicios España S.A.U.
Atento Servicios Auxiliares de Contact Center. S.A.UMadrid (Spain)Execution of technological projects and services, and consultancy services100Atento Teleservicios España. S.A.U.
Atento B VAmsterdam (Netherlands)Holding company100Atento Spain Holdco 2. S.A.U.
Teleatento del Perú. S.A.CLima (Peru)Operation of call centers83.3333Atento B.V.
(Class A)
16.6667Atento Holding Chile. S.A.
(Class B)
Woknal. S.A.Montevideo (Uruguay)Operation of call centers100Atento B.V.
Atento Colombia. S.A.Bogotá DC (Colombia)Operation of call centers94.97871Atento B.V.
0.00424Atento Servicios Auxiliares de Contact Center. S.L.U.
0.00854Atento Servicios Técnicos y Consultoría. S.L.U.
5.00427Atento Teleservicios España. S.A.U.
0.00424Teleatento del Perú SAC.
Atento Holding Chile. S.A.Santiago de Chile (Chile)Holding company99.9999Atento B.V.
0.0001Atento Spain Holdco 2
Atento Chile. S.A.Santiago de Chile (Chile)Operation of call centers99.99Atento Holding Chile. S.A.
0.01Atento B.V.
Atento Educación LimitadaSantiago de Chile (Chile)Operation of call centers99Atento Chile. S.A.
1Atento Holding Chile. S.A.
Atento Centro de Formación Técnica LimitadaSantiago de Chile (Chile)Operation of call centers99Atento Chile. S.A.
1Atento Holding Chile. S.A.
Atento Spain Holdco 4. S.A.UMadrid (Spain)Holding company100Atento Spain Holdco. S.L.U.
Atento Brasil. S.ASão Paulo (Brazil)Operation of call centers99.999Atento Spain Holdco 4. S.A.U.
0.001Atento Spain Holdco. S.L.U.
R Brasil Soluções S.A.São Paulo (Brazil)Operation of call centers81.4885Atento Brasil. S.A.
Atento Spain Holdco 5. S.L.UMadrid (Spain)Holding company100Atento Spain Holdco. S.L.U.
Atento Mexico Holdco S. de R.L. de C.V.MexicoHolding company99.966Atento Spain Holdco 5. S.L.U.
0.004Atento Spain Holdco. S.L.U.
Atento Puerto Rico. Inc.Guaynabo (Puerto Rico)Operation of call centers100Atento Mexico Holdco S. de R.L. de C.V.
Contact US Teleservices Inc.Houston, Texas (USA)Operation of call centers100Atento Mexico Holdco S. de R.L. de C.V.
Atento Panamá. S.A.Panama CityOperation of call centers100Atento Mexico Holdco S. de R.L. de C.V.
Atento Atención y Servicios. S.A. de C.V.Mexico City (Mexico)Administrative, professional and consultancy services99.998Atento Mexico Holdco S. de R.L. de C.V.
0.002Atento Servicios. S.A. de C.V.
Atento Servicios. S.A. de C.V.Mexico City (Mexico)Sale of goods and services99.998Atento Mexico Holdco S. de R.L. de C.V.
0.002Atento Atención y Servicios. S.A. de C.V.
Atento Centroamérica. S.A.Guatemala (Guatemala)Holding company99.9999Atento Mexico Holdco S. de R.L. de C.V.
0.0001Atento El Salvador S.A. de C.V.
Atento de Guatemala. S.A.Guatemala (Guatemala)Operation of call centers99.99999Atento Centroamérica. S.A.
0.00001Atento El Salvador S.A. de C.V.
Atento El Salvador. S.A. de C.V.City of San Salvador (El Salvador)Operation of call centers7.4054Atento Centroamerica. S.A.
92.5946Atento de Guatemala. S.A.
Atento Nicaragua S.A. NicaraguaOperation of call centers4.35Atento Centroamerica. S.A.
95.65Atento Mexico Holdco S. de R.L. de C.V.
Atento Costa Rica S.A.Costa RicaOperation of call centers99.999Atento Mexico Holdco S. de R.L. de C.V.
0.0001Atento Centroamerica. S.A.
Interservicer - Serviços de BPO LtdaSão Paulo (Brasil)Operation of call centers50.00002Nova Interfile e Holding Ltda.
Interfile Serviços de BPO Ltda.São Paulo (Brasil)Operation of call centers50.00002Nova Interfile e Holding Ltda.
Nova Interfile Holding Ltda.São Paulo (Brasil)Holding company100Atento Brasil. S.A.

At December 31, 2016, 2017 and 2018, none of the Group’s subsidiaries is listed on a stock exchange, except for Atento Luxco 1 S.A., which has debt securities listed in the International Stock Exchange (TISE) in Guernsey. All subsidiaries use year-end December 31 as their reporting date.

u) New and amended standards adopted by the Group

The Atento Group applied IFRS 15 and IFRS 9 for the first time in 2018. The nature and effect of the changes as a result of adoption of these new accounting standards are described below. The adoption of these amendments did not have any material impact on the current period or any prior period.

Several other amendments and interpretations apply for the first time in 2018, but did not have an impact on the consolidated financial statements of the Atento Group. The Atento Group has not early adopted any standards, interpretations or amendments that have been issued but are not yet effective.

IFRS 15 Revenue from Contracts with Customers

IFRS 15 supersedes IAS 11 Construction Contracts, IAS 18 Revenue and related Interpretations and it applies, with limited exceptions, to all revenue arising from contracts with its customers. IFRS 15 establishes a five-step model to account for revenue arising from contracts with customers and requires that revenue be recognised at an amount that reflects the consideration to which an entity expects to be entitled in exchange for transferring goods or services to a customer.

IFRS 15 requires entities to exercise judgement, taking into consideration all of the relevant facts and circumstances when applying each step of the model to contracts with their customers. The standard also specifies the accounting for the incremental costs of obtaining a contract and the costs directly related to fulfilling a contract. In addition, the standard requires extensive disclosures.

The Atento Group adopted IFRS 15 using the modified retrospective approach for initial adoption. The Company and its subsidiaries did not have any initial impact through the adoption of IFRS 15.

IFRS 9 Financial Instruments

IFRS 9 Financial Instruments replaces IAS 39 Financial Instruments: Recognition and Measurement for annual periods beginning on or after 1 January 2018, bringing together all three aspects of the accounting for financial instruments: classification and measurement; impairment; and hedge accounting.

The Atento Group has applied IFRS 9 prospectively, with the initial application date of January 1, 2018.

Financial assets

The Company’s loans and receivables as per IAS 39 that are held to collect contractual cash flows that solely represent payments and interest satisfy the conditions for classification as at amortized cost for IFRS 9 and hence there will be no change to the accounting for these assets.

The Company also had no changes for derivatives, that as per IAS 39 are classified at fair value through profit or loss (unless they are designated as hedges) and would appear to be classified as FVPL (Fair Value Through Profit or Loss) as per IFRS 9.

Accordingly, the Atento Group did not have any impact on the classification and measurement of its financial assets.

Financial liabilities

There is no impact on the Atento Group’s accounting for financial liabilities, as the new requirements only affect the accounting for financial liabilities that are designated at fair value through profit or loss and the Atento Group does not have such liabilities other than option for the acquisition of non-controlling interest and derivatives, that as per IAS 39 are classified at fair value through profit or loss (unless they are designated as hedges) and will be classified as FVPL (fair value through profit or loss) as per IFRS 9. The derecognition rules have been transferred from IAS 39 Financial Instruments: Recognition and Measurement and have not been changed.

The new hedge accounting rules will align the accounting for hedging instruments more closely with the Atento Group’s risk management practices. As a general rule, more hedge relationships might be eligible for hedge accounting, as the standard introduces a more principles-based approach. The Atento Group’s current hedge relationships will qualify as continuing hedges upon the adoption of IFRS 9. Accordingly, the Atento Group does not have impact on the accounting for its hedging relationships.

The new impairment model requires the recognition of impairment provisions based on expected credit losses (ECL) rather than only incurred credit losses as is the case under IAS 39. It applies to financial assets classified at amortized cost, debt instruments measured at FVOCI (fair value through other comprehensive income), contract assets under IFRS 15 Revenue from Contracts with Customers, loan commitments and certain financial guarantee contracts. Management did not have any significant increase in the credit losses.

v) Standards issued but not yet effective

The new and amended standards and interpretations that are issued, but not yet effective, up to the date of issuance of the Group’s financial statements are disclosed below. The Group intends to adopt these new and amended standards and interpretations, if applicable, when they become effective.

Title of standard

IFRS 16 Leases

Nature of change

IFRS 16 was issued in January 2016. It will result in almost all leases being recognised on the balance sheet, as the distinction between operating and finance leases is removed. Under the new standard, an asset (the right to use the leased item) and a financial liability to pay rentals are recognised. The only exceptions are short-term and low-value leases.

 

Impact

The standard will affect primarily the accounting for the group’s operating leases.

As at the reporting date, lease commitments that the group expects to recognize as right-of-use assets amount to approximately 184,099 thousand U.S. dollars on January 1, 2019, and lease liabilities in the same amount.

The consolidated statement of operations will be impacted by a decrease of-operating expenses and an increase of the amortization of the right-of-use assets and interest on the lease liability.

Atento activities as a lessor are not material and hence the group does not expect any significant impact on the financial statements including no impacts in the loan’s covenants.

Mandatory application date/ Date of adoption by group

Atento will apply the standard from its mandatory adoption date of 1 January 2019. The group intends to apply the simplified transition approach and will not restate comparative amounts for the year prior to first adoption. Right-of-use assets for property leases will be measured on transition as if the new rules had always been applied. All other right-of-use assets will be measured at the amount of the lease liability on adoption

Title of standard

IFRIC Interpretation 23 Uncertainty over Income Tax Treatment

Key requirements

The Interpretation addresses the accounting for income taxes when tax treatments involve uncertainty that affects the application of IAS 12 and does not apply to taxes or levies outside the scope of IAS 12, nor does it specifically include requirements relating to interest and penalties associated with uncertain tax treatments.

The Interpretation specifically addresses the following:

Whether an entity considers uncertain tax treatments separately;

The assumptions an entity makes about the examination of tax treatments by taxation authorities;

How an entity determines taxable profit (tax loss), tax bases, unused tax losses, unused tax credits and tax rates;

How an entity considers changes in facts and circumstances.

Atento reviewed the tax treatment under the terms of IFRIC 23 in all subsidiaries and as at the reporting date, the group did not identify any material impact on the financial statements.

Atento implemented a process for periodically review the income tax treatments consistent under IFRIC 23 requirements across the group.

Mandatory application date/ Date of adoption by group

Atento will apply the standard from its mandatory adoption date of 1 January 2019.

There are no other standards that are not yet effective and that would be expected to have a material impact on the Atento Group in the current or future reporting periods and on foreseeable future transactions.

v3.19.1
MANAGEMENT OF FINANCIAL RISK
12 Months Ended
Dec. 31, 2018
Disclosure of risk management strategy related to hedge accounting [abstract]  
Disclosure of financial risk management [text block]

4) MANAGEMENT OF FINANCIAL RISK

4.1 Financial risk factors

The Atento Group’s activities are exposed to various types of financial risk: market risk (including foreign currency risk and interest rate risk), credit risk and liquidity risk. The Atento Group’s global risk management policy aims to minimize the potential adverse effects of these risks on the Atento Group’s financial returns. The Atento Group also uses derivative financial instruments to hedge certain risk exposures.

a) Market risk

Interest rate risk in respect of cash flow and fair value

Interest risk arises mainly as a result of changes in interest rates which affect: finance costs of debt bearing interest at variable rates (or short-term maturity debt expected to be renewed), as a result of fluctuations in interest rates, and the value of non­current liabilities that bear interest at fixed rates.

Atento Group’s finance costs are exposed to fluctuations in interest rates. At December 31, 2018, 7.4% of financial debt with third parties bore interests at variable rates, while at December 31, 2017. this amount was 12.8%. In both 2017 and 2018, the exposure was to the Brazilian CDI rate and the TJLP (Brazilian Long Term Interest Rate).

The Atento Group’s policy is to monitor the exposure to interest at risk. As described in Note 14, the Atento Group has entered to interest rate swaps that have the economic effect of converting floating­rate borrowings into fixed interest rate borrowings.

As of December 31, 2017. the estimated fair value of the interest rate hedging instruments related to the Brazilian Debentures totaled a derivative liability of $1.2 million, which was recorded as a financial liability. As of December 31, 2018, there were no outstanding interest rate hedging instruments related to the Brazilian Debentures.

Foreign currency risk

Our foreign currency risk arises from local currency revenues, receivables and payables, while the U.S. dollar is our functional and reporting currency. We benefit to a certain degree from the fact that the revenue we collect in each country, in which we have operations, is generally denominated in the same currency as the majority of the expenses we incur.

In accordance with our risk management policy, whenever we deem it appropriate, we manage foreign currency risk by using derivatives to hedge any exposure incurred in currencies other than those of the functional currency of the Countries.

The main source of our foreign currency risk is related to the Senior Secured Notes due 2022 denominated in U.S. dollars. Upon issuance of the Notes, we entered into cross-currency swaps pursuant to which we exchange an amount of U.S. dollars for a fixed amount of Euro, Mexican Pesos, Peruvian Soles and Brazilian Reais. The total amount of interest (coupon) payments are covered (until maturity date) and also a portion of the principal (until January 2020).

As of December 31, 2018, the estimated fair value of the cross-currency swaps totalled an net asset of $10.6 million (asset of $3.0 million as of December 31, 2017).

The table below shows the impact of a +/­10 basis points variation in the exchange rate on the value of the cross-currency swaps.

Thousands of U.S. dollars
CROSS-CURRENCY2018
FAIR VALUE10,630
0.10%(3,522)
-0.10%862

As of December 31, 2018, the estimated fair value of the cross-currency swaps totaled a net asset of $10.6 million (asset of $3.0 million as of December 31, 2017).

2016Financial assets (*)Financial liabilities (*)Sensitivity analysis
Functional currency - financial asset/liability currencyFunctional currency (thousands) Asset currency (thousands) U.S. Dollar (thousands) Functional currency (thousands)Liability currency (thousands)U.S. Dollar (thousands)Appreciation of asset/liability currency vs functional currency Appreciation of financial assets in functional currency Statements of operations (thousands of U.S. dollar) Appreciation of financial liabilities in functional currency Statements of operations (thousands of U.S. dollar)
Euro - Colombian Pesos244817,344272---10%2,846.728745--
Euro - Dirham Moroccan 2522,848281---10%9.629747--
Euro - Peruvian Nuevos Soles6424172---10%3.27612--
Euro - USD 3,5153,7053,705---10%0.93,905412--
Chilean Pesos – USD212-----10%0.0235---
Mexican Pesos – USD6-----10%0.0----
Brazilian Reais – USD622---10%0.37---
Guatemalan Quetzal – USD2,442325325---10%0.12,71336--
Colombian Pesos – USD590,271197197---10%0.0655,85722--
Peruvian Nuevos Soles - USD 23,4846,9986,9985,1381,5311,53110%0.326,0947785,709(170)
United States Dolar - Euro11,06810,50011,068---10%0.912,2981,230--
United States Dolar - MXN791,62779---10%18.6889--
Chilean Pesos – Euro292-----10%0.0324---
(*) Financial liabilities correspond to borrowing in currencies other than functional currencies. Financial assets correspond to cash and cash equivalents in currencies other than functional currencies.

2017Financial assets (*)Financial liabilities (*)Sensitivity analysis
Functional currency - financial asset/liability currencyFunctional currency (thousands) Asset currency (thousands) U.S. Dollar (thousands) Functional currency (thousands)Liability currency (thousands)U.S. Dollar (thousands)Appreciation of asset/liability currency vs functional currency Appreciation of financial assets in functional currency Statements of operations (thousands of U.S. dollar) Appreciation of financial liabilities in functional currency Statements of operations (thousands of U.S. dollar)
Euro - Colombian Pesos253904,880303---10%3,220.828134--
Euro - Dirham Moroccan 5275,915632---10%10.158670--
Euro - Peruvian Nuevos Soles3714444---10%3.5415--
Euro - USD 2,9993,5973,597---10%1.13,332400--
Chilean Pesos – USD7,9821313---10%0.08,8751--
Mexican Pesos – USD970-49---10%0.0-(49)--
Brazilian Reais – USD2788---10%0.3301--
Guatemalan Quetzal – USD821111---10%0.1911--
Colombian Pesos – USD610,695205205---10%0.0678,55023--
Peruvian Nuevos Soles - USD 26,3588,1238,1235,8221,7941,79410%0.329,2879036,469(199)
United States Dolar - Euro868---10%0.891--
United States Dolar - MXN1020210---10%17.7111--
Chilean Pesos – Euro132,016179215---10%0.0146,42320--
(*) Financial liabilities correspond to borrowing in currencies other than functional currencies. Financial assets correspond to cash and cash equivalents in currencies other than functional currencies.

2018Financial assets (*)Financial liabilities (*)Sensitivity analysis
Functional currency - financial asset/liability currencyFunctional currency (thousands) Asset currency (thousands) U.S. Dollar (thousands) Functional currency (thousands)Liability currency (thousands)U.S. Dollar (thousands)Appreciation of asset/liability currency vs functional currency Appreciation of financial assets in functional currency Statements of operations (thousands of U.S. dollar) Appreciation of financial liabilities in functional currency Statements of operations (thousands of U.S. dollar)
Euro - Colombian Pesos------10%3,349.0----
Euro - Dirham Moroccan 6687,031764---10%10.071352--
Euro - Peruvian Nuevos Soles------10%3.0----
Euro - USD 1,4171,6221,622---10%1.01,574180--
Chilean Pesos – USD36,7445353---10%0.040,8276--
Mexican Pesos – USD27,7191,4111,411---10%0.030,799157--
Brazilian Reais – USD1644---10%0.017---
Guatemalan Quetzal – USD2,094271271---10%0.02,32730--
Colombian Pesos – USD546,644168168---10%0.0607,38219--
Peruvian Nuevos Soles - USD 11,2213,3213,3213,5361,0461,04610%0.012,4683693,929(116)
United States Dolar - Euro151315---10%1.0172--
United States Dolar - MXN1261---10%18.01---
Chilean Pesos – Euro70-----10%0.081---
(*) Financial liabilities correspond to borrowing in currencies other than functional currencies. Financial assets correspond to cash and cash equivalents in currencies other than functional currencies.

b) Credit risk

The Atento Group seeks to conduct all of its business with reputable national and international companies and institutions established in their countries of origin, to minimize credit risk. As a result of this policy, the Atento Group has no material adjustments to make to its credit accounts (see Note 13).

Accordingly, the Atento Group’s commercial credit risk management approach is based on continuous monitoring of the risks assumed and the financial resources necessary to manage the Group’s various units, in order to optimize the risk­reward relationship in the development and implementation of business plans in the course of their regular business.

Credit risk arising from cash and cash equivalents is managed by placing cash surpluses in high quality and highly liquid money-market assets. These placements are regulated by a master agreement revised annually on the basis of the conditions prevailing in the markets and the countries where Atento operates. The master agreement establishes: (i) the maximum amounts to be invested per counterparty, based on their ratings (long- and short-term debt ratings); (ii) the maximum period of the investment; and (iii) the instruments in which the surpluses may be invested.

The Atento Group’s maximum exposure to credit risk is primarily limited to the carrying amounts of its financial assets. The Atento Group holds no guarantees as collection insurance.

c) Liquidity risk

The Atento Group seeks to match its debt maturity schedule to its capacity to generate cash flows to meet the payments falling due, factoring in a degree of cushion. In practice, this has meant that the Atento Group’s average debt maturity must be longer enough to support business operation normal conditions (assuming that internal projections are met). A maturity schedule for the Atento Group’s financial liabilities is provided in Note 16.

4.2 Capital Management

The Atento Group’s Finance Department, which is in charge of the capital management, takes various factors into consideration when determining the Group’s capital structure.

The Atento Group’s capital management goal is to determine the financial resources necessary both to continue its recurring activities and to maintain a capital structure that optimizes own and borrowed funds.

The Atento Group sets an optimal debt level in order to maintain a flexible and comfortable medium-term borrowing structure, in order to be able to carry out its routine activities under normal conditions and to address new opportunities for growth. Debt levels are kept in line with forecasted future cash flows and with quantitative restrictions imposed under financing contracts.

As indicated in Note 17, among the restrictions imposed under financing arrangements, the debenture contract lays out certain general obligations and disclosures in respect of the lending institutions, specifically, Atento Brasil S.A. must comply with the quarterly net financial debt/EBITDA ratio set out in the contract terms.

In addition to these general guidelines, we take into account other considerations and specifics when determining our financial structure, such as country risk, tax efficiency and volatility in cash flow generation.

The contract also sets out additional restrictions, including limitations on dividends, payments and distributions to shareholders and capacity to incur additional debt.

The Super Senior Revolving Credit Facility, described in Note 17, carries no financial covenant obligations regarding debt levels. However, the notes do impose limitations on the distributions on dividends, payments or distributions to the shareholders, the incurring of additional debt, and on investments and disposal of assets.

As of the date of these consolidated financial statements, the Atento Group was in compliance with all restrictions established in the aforementioned financing contracts, and does not foresee any future non-compliance. To that end, the Atento Group regularly monitors figures for net financial debt with third parties and EBITDA.

Net financial debt with third parties at December 31, 2017 and 2018 is as follow:

Thousands of U.S. dollars
20172018
Senior Secured Notes (Note 17)398,346400,035
Brazilian bonds - Debentures (Note 17)21,05514,708
Bank borrowings (Note 17)56,39239,498
Finance lease payables (Note 17)10,4985,527
Less: Cash and cash equivalents (Note 15)(141,762)(133,526)
Net financial debt with third parties 344,529326,242
v3.19.1
BUSINESS COMBINATIONS
12 Months Ended
Dec. 31, 2018
Disclosure of detailed information about business combination [abstract]  
Disclosure of business combinations [text block]

5) BUSINESS COMBINATIONS

a) RBrasil Soluções S.A.

On September 2, 2016, the Company through its indirect subsidiary Atento Brasil S.A. acquired the control and 81.49%, of the shares of RBrasil Soluções S.A. (“RBrasil”), a leading provider of late-stage collection services in Brazil.

The total amount paid for this acquisition was 27,095 thousand Brazilian Reais (8,638 thousand U.S. dollars), net of cash acquired. The Purchase and Sale Agreement also included a contingent consideration that can vary from zero to 8,150 thousand Brazilian Reais (2,501 thousand U.S. dollars), according to the result of the operation, which will be measured through RBrasil's EBITDA. Therefore, based on projections the Company also recorded a contingent consideration of 8,150 thousand Brazilian Reais (2,501 thousand U.S. dollars), representing its fair value as of the acquisition date. As a result, the total consideration transferred to 36,273 thousand Brazilian Reais (11,130 thousand U.S. dollars).

Valuations were carried out to measure the fair value of intangible assets and liabilities and allocation of the acquisition price, in accordance with the requirements specified in IFRS 3. The goodwill recognized in the transaction represent future benefits of the expected synergies in the business combinations and will be income tax deductible when RBrasil is merged into the Company. These benefits are not recognized separately from the goodwill because they do not meet the criteria for recognition of identifiable intangible assets.

The fair value in U.S.dollars of identifiable assets acquired and liabilities assumed of RBrasil on the date of acquisition is as follows:

Thousands of U.S. dollars
Assets
Cash and cash equivalents315
Accounts receivable2,273
Escrow account2,884
Deferred taxes assets2,079
Other credits679
Property, plant and equipment 491
Intangibles (b)2,628
Liabilities
Other obligations(2,932)
Provisions for legal proceedings and contingent liabilities(13,105)
Total net liabilities assumed at fair value(4,688)
Non-controlling interest measured at fair value928
Goodwill on acquisition15,214
Total of the consideration11,454
Purchase price consideration
Consideration paid8,953
Contingent consideration2,501
Total consideration11,454
Analysis of the cash flow of the acquisition
Consideration paid8,953
Net cash acquired(315)
Outflow cash, net (a)8,638

  • Included in the cash flow from investing activities
  • Refer to customer base, non-compete agreement, backlog and database identified as part of the purchase price allocation.

The acquisition transaction costs totaling 890 thousand Brazilian Reais (273 thousand U.S. dollars) were recognized in the statements of operations.

From the acquisition date to December 31, 2016, RBrasil contributed to the Company with revenues of 5,951 thousand U.S. dollars and pre-tax profit of 858 thousand U.S. dollars. If the acquisition had occurred on January 1, 2016, the contribution of net revenues and pre-tax result in the Companys consolidated financial statements for the year ended December 31, 2016, would amount 18,392 and (2,254) thousand U.S. dollars, respectively.

Guarantees

The amount equivalent to 9,400 Brazilian Reais (2,884 thousand U.S. dollars) of the consideration transferred to the sellers that no longer are shareholders of RBrasil was transferred to an escrow account in order to guarantee payment for any loss that is indemnifiable by them.

The guarantee of the payment of any potential loss identifiable by the sellers who continue being minority shareholders of RBrasil to the Company pledged their rights to all dividends, interest in own capital, incomes, distributions, salaries, bonuses, remuneration, capital reimbursement and any other amounts that may come to be credited, paid, distributed or otherwise delivered, for any reason, by RBrasil to these shareholders.

Put/Call options

As per the Shareholders' Agreement, the Company has a purchase option, where non-controlling shareholders irrevocably and irreversibly grant to the Company, through that instrument, the right, but not the obligation, at the sole discretion of the Company, to acquire all of their shares, and the non-controlling shareholders, through the exercise of that right, shall be obliged to sell their shares to the Company ("call option"). The call option may be exercised by any controlling shareholder between January 1, 2019 and December 31, 2020. The Shareholders' Agreement also provides for a put option, where the non-controlling shareholders have the right, irrevocable and irreversible, but not the obligation, to sell all of their shares to the Company ("put option"). The put option may be exercised by non-controlling shareholders between January 1, 2019 and December 31, 2020.

The exercise price of the call option will be determined by multiples, already defined in the Shareholders' Agreement, of the EBITDA of the year immediately prior to the exercise of the option, multiplied by the percentage of participation to be acquired.

IFRS 3 does not provide specific guidance on how such contracts should be accounted for in a business combination. To determine the appropriate accounting treatment, IAS 39 - Financial Instruments: Recognition and Measurement and IAS 32- Financial Instruments: Presentation, were considered.

On the basis of the above, the Company recognized a financial liability related to the potential for acquisition of non-controlling interest for an amount of 3,444 thousand Brazilian Reais (1,057 thousand US dollars). The financial liability was recognized against specific reserve in shareholders' equity, considering that these are transactions between shareholders.

b) Nova Interfile Holding Ltda

On June 9, 2017, the Company through its indirect subsidiary Atento Brasil S.A. acquired the control and 50,00002% of Interfile Serviços de BPO Ltda. and 50,00002% of Interservicer – Serviços em Crédito Imobiliário Ltda, (“Interfile”) leading providers of BPO services and solutions, including credit origination, for the banking and financial services sector in Brazil.

The total amount paid for this acquisition was 14,664 thousand U.S. dollars, net of cash acquired.

Valuations were carried out to measure the fair value of assets acquired and liabilities assumed for the allocation of the acquisition price, in accordance with the requirements of IFRS 3 in this interim consolidated financial statements. The goodwill recognized in the transaction represents expected future synergies of the business combinations and will be deductible for income tax when the acquired entities are merged into the Atento Brasil S.A. These benefits are not recognized separately from goodwill because they do not meet the criteria for recognition of identifiable intangible assets.

The fair value in U.S dollars of identifiable assets acquired and liabilities assumed of Interfile and Interservice on the date of acquisition is as follows:

Thousands of U.S. dollars
Assets
Cash and cash equivalents1,572
Accounts receivable5,463
Deferred taxes assets2,366
Other credits2,486
Property, plant and equipment 2,628
Intangibles (b)16,456
Liabilities
Other obligations(6,203)
Contingent liabilities(1,527)
Provisions for legal proceedings(4,881)
Deferred taxes liabilities(2,688)
Net identifiable assets acquired15,672
Non-controlling interest measured at fair value(7,836)
Goodwill on acquisition8,400
Total of the consideration16,236
Analysis of the cash flow of the acquisition
Consideration paid16,236
Net cash acquired(1,572)
Consideration net of cash acquired (a)14,664

  • Presented as investing activities in the statement of cash flows.
  • Intangible assets acquired which meet the criteria for recognition comprise customer relationships, software database and a non-compete agreement (classified as other intangible assets in Note 6) identified as part of the purchase price allocation.

The fair value amount for accounts receivables is 5,463 thousand U.S. dollars. The gross contractual amount for trade receivables due 5,643 thousand U.S. dollars.

Transaction costs totaling 192 thousand U.S. dollars are recorded in the statements of operations.

From the date of acquisition to December 31, 2017, Nova Interfile contributed to the Company with net revenues of 22,472 thousand U.S. dollars and pre-tax result of 3,682 thousand U.S. dollars. If the acquisition had occurred on January 1, 2017, the contribution of net revenues and pre-tax result in the Company’s consolidated financial statements for the year ended December 31, 2017, would amount 38,558 and (332) thousand U.S. dollars, respectively.

Put/Call options

As per the Shareholders' Agreement, the Company has a purchase option, where non-controlling shareholders granted to Atento Brasil S.A., through that instrument, the right, to acquire all of their shares, and the non-controlling shareholders, through the exercise of that right, shall be obliged to sell their shares to Atento Brasil S.A. ("call option"). The call option may be exercised by Atento Brasil S.A. between January 1, 2020 and April 15, 2020. The Shareholders' Agreement also provides for put options, where the non-controlling shareholders have the right, to sell partial or all of their shares to the Atento Brasil S.A. ("put options"). Many put options were understood by Management as protective clauses with remote possibility of being exercised. The assessment of the put options were made taking into account the following; (i) probability of occurrence; (ii) degree of importance (primary or secondary, in this case as term extension or acceleration of other options) and (iii) function: effective options or clauses protecting the parties.

Considering the valuation of the acquired entity and Management’s best estimates, the put option that will likely to be exercised by the non-controlling shareholders is between January 1, 2020 and April 15, 2020 – which is symmetrical with the call option. According to IAS 32, a parent must recognize a financial liability when it has an obligation to pay cash in the future to purchase the minority’s shares, even if the payment is conditional on the option being exercised by the holder.

The exercise price of the put option will be determined by multiples, already defined in the Shareholders' Agreement, of the EBITDA of the year immediately prior to the exercise of the option, multiplied by the percentage of participation to be acquired.

IFRS 3 does not provide specific guidance on how such contracts should be accounted for in a business combination. To determine the appropriate accounting treatment, IAS 39 - Financial Instruments: Recognition and Measurement, IAS 32- Financial Instruments: Presentation and IFRS 10 – Consolidated Financial Statements were considered.

On the basis of the above, the Company recognized a financial liability related to the potential acquisition of non-controlling interest of 74,401 thousand Brazilian Reais (22,744 474 thousand US dollars). The financial liability was recognized against specific reserve in equity, considering that these are transactions between shareholders.

v3.19.1
INTANGIBLE ASSETS
12 Months Ended
Dec. 31, 2018
Disclosure of detailed information about intangible assets [abstract]  
Disclosure of intangible assets [text block]

6) INTANGIBLE ASSETS

The following table presents the breakdown of intangible assets at December 31, 2017 and 2018 and respective changes in the year:    

Thousands of U.S. dollars
Balance at December 31, 2016AdditionsAcquisitions from business combination (Note 5)DisposalsTransfersTranslation differencesHyperinflation AdjustmentsBalance at December 31, 2017
Cost
Development 3,9071,513-(7)(627)(90)-4,696
Customer base 264,1572,55214,931(9)-10,267-291,898
Software 138,05012,4631,468(3,085)2,1157,024-158,035
Other intangible assets 44,83918,96057(533)1,155775-65,253
Work in progress 2,823--(259)(2,073)(29)-462
Total cost 453,77635,48816,456(3,893)57017,947-520,344
Accumulated amortization
Development (475)(235)-7(1)13-(691)
Customer base (105,296)(25,222)---(3,140)-(133,658)
Software (68,138)(24,669)-147(179)(1,066)-(93,905)
Other intangible assets (31,807)(5,069)-373(390)(624)-(37,517)
Total accumulated amortization (205,716)(55,195)-527(570)(4,817)-(265,771)
Impairment(21,507)----(2,962)-(24,469)
Net intangible assets 226,553(19,707)16,456(3,366)-10,168-230,104

Thousands of U.S. dollars
Balance at December 31, 2017AdditionsAcquisitions from business combination (Note 5)DisposalsTransfersTranslation differencesHyperinflation AdjustmentsBalance at December 31, 2018
Cost
Development 4,6962,081-(777)-(1,341)4315,090
Customer base 291,898--(411)-(38,285)9,725262,927
Software 158,03553,035-(676)5,182(22,973)2,363194,966
Other intangible assets 65,2536,091-(1,007)(820)(733)27669,060
Work in progress 462927---(300) -1,089
Total cost 520,34462,134-(2,871)4,362(63,632)12,795533,132
Accumulated amortization
Development (691)(181)-14-727(516)(647)
Customer base (133,658)(23,423)-150-18,461(4,820)(143,290)
Software (93,905)(28,992)-48-10,269(1,265)(113,845)
Other intangible assets (37,517)(6,085)-1,153-2,998(708)(40,159)
Total accumulated amortization (265,771)(58,681)-1,365-32,455(7,309)(297,941)
Impairment(24,469)(626)---1,104-(23,991)
Net intangible assets 230,1042,827-(1,506)4,362(30,073)5,486211,202

“Customer base” represents the fair value, of the intangible assets arising from customer relationships (tacit or explicitly formulated in contracts) with Telefónica Group and with other customers identified in business combination transactions. The addition in 2017 of new entity in the customer base is related of the acquisition of Interfile, as mentioned in Note 5.

Of the total customer base in 2018, the fair value assigned to commercial relationships with Telefónica at the acquisition date amounts to 247,744 thousand U.S. dollars, while the remaining amount relates to other customers.

In terms of geographic distribution, the customer base corresponds to businesses in Brazil (112,632 thousand U.S. dollars), Spain (49,910 thousand U.S. dollars) net of impairment, Mexico (48,202 thousand U.S. dollars), Peru (15,648 thousand U.S. dollars), Colombia (3,106 thousand U.S. dollars), Chile (8,940 thousand U.S. dollars) and Argentina and Uruguay (4,033 thousand U.S. dollars).

In 2018, the additions are mainly related to acquisition by Atento of the rights to software’s use of $38,500 thousand US dollars and development of software’s Visibility and Control, Digital Voice & Operations Systems in Atento Brasil in the amount of 4,600 thousand U.S. dollars.

“Other intangible assets” mainly include payment of loyalty incentives established with customers of the Atento Brasil S.A. and the intangible asset arising from the directory services business in Atento Teleservicios España.

“Work in progress” mainly include the ERP implementation costs which are currently in progress.

In 2018, was recognized the impairment of 626 thousand US dollars relating to other intangible assets in Spain.

v3.19.1
GOODWILL
12 Months Ended
Dec. 31, 2018
Disclosure of reconciliation of changes in goodwill [abstract]  
Disclosure of goodwill [text block]

7) GOODWILL

Goodwill was mainly generated on December 1, 2012 from the acquisition of the Customer Relationship Management (“CRM”) business from Telefónica, S.A and on December 30, 2014 from the acquisition of CBCC. On September 2, 2016, additional goodwill was generated from the acquisition of RBrasil.

The main change in goodwill in the year ended December 31, 2017 is related to the acquisition of Interfile in the amount of 8,400 thousand U.S. dollars on June 9, 2017, as described in Note 5.

The breakdown and changes in goodwill in 2017 and 2018 are as follow:

Thousands of U.S. dollars
12/31/2016AcquisitionsHyperinflationTranslationdifferences12/31/2017AcquisitionsHyperinflationTranslationdifferences12/31/2018
Peru29,268.0--1,00130,269--(1,200)29,069
Chile17,314.0--1,46618,780--(2,172)16,608
Colombia6,249.0--356,284--(514)5,770
Mexico1,758.0--841,842--21,844
Brazil (*)72,4398,400-(1,049)79,790--(11,672)68,118
Argentina18,988--(2,809)16,179-25,577(8,176)33,580
Total146,0158,400-(1,272)153,144-25,577(23,732)154,989
(*) As of December 31, 2018 the total amount of goodwill is composed by 12.796 thousand U.S. dollars from the acquisition of RBrasil, 7.097 thousand U.S. dollars from the acquisition of Interfile and 48.225 thousand allocated to Atento Brasil from the acquisition of CRM Business from Telefonica in 2012.
v3.19.1
IMPAIRMENT OF ASSETS
12 Months Ended
Dec. 31, 2018
Disclosure of impairment loss and reversal of impairment loss [abstract]  
Disclosure of impairment of assets [text block]

8) IMPAIRMENT OF ASSETS

As of December 31, 2018, the impairment assessment on goodwill performed by the Atento Group’s management indicated that the carrying amount of goodwill is recoverable. Such assessment was based on the calculation of the recoverable amount of goodwill through the calculation of the expected future cash flow from the cash­generating units to which goodwill is allocated.

Atento has no other assets with indefinite useful lives, and therefore carries out no impairment tests of this type.

The Atento Group carries out its goodwill impairment tests using the various cash-generating units’ five-year strategic plans and budgets, approved by Management.

Recoverable amount is based on value in use calculated using cash flow from projected results adjusted for amortization/depreciation, finance costs, and taxes, based on the last period, and using the expected growth rates obtained from studies published in the sector and assuming said growth to be constant from the fifth year. Estimated cash flow determined in this manner is discounted using the WACC applicable to that CGU. The discount rates used reflect the current assessment of specific market risks in each of the cash-generating units, considering the time value of money and individual country risks not included in the cash flow estimates. WACC takes both the cost of debt and capital into account. The latter is obtained based on the return expected by the shareholders of the Atento Group, while the former is obtained based on the Atento Group’s finance costs. In addition, the risks specific to each country were included in the WACC using corrective factors.

These tests are performed annually and whenever it is considered that the recoverable amount of goodwill may be impaired.

At December 31, 2017 and 2018, the tests conducted did not identify any impairment in the value of goodwill, since the related recoverable amounts calculated using value in use were in all cases higher than the carrying amount of the related cash-generating units, even after sensitivities were applied to the variables used.

The pre-tax discount rates, which factor in country and business risks, and the projected growth rates were as follow:

Discount rate
Brazil Mexico Colombia Peru Chile Argentina
December 201712.74%12.09%12.48%11.54%11.35%30.25%
December 201814.10%14.07%12.46%9.75%10.49%53.04%
Growth rate
Brazil Mexico Colombia Peru Chile Argentina
December 20173.85%4.00%3.40%2.50%2.40%19.30%
December 20183.70%3.00%3.30%1.40%2.50%34.20%
The recoverable amounts per country were as follow:
Thousand U.S. dollarsRecoverable amounts
Brazil (*)Mexico Colombia Peru Chile Argentina
December 2017879,30325,40059,643226,88160,60790,143
December 2018763,44947,73274,267389,20898,31878,276
(*) The total recoverable amount of 2017 is composed by 33,618 thousand U.S. dollars from the acquisition of RBrasil, 140,373 thousand U.S. dollars from the acquisition of Interfile and 705,312 thousand from Atento Brasil. For 2018 the total recoverable amount is composed by 37,429 thousand U.S. dollars from the acquisition of RBrasil, 77,126 thousand U.S. dollars from the acquisition of Interfile and 648,894 thousand from Atento Brasil.

In the event of a 1% increase or decrease in the discount rate used to calculate the recoverable amount of the CGUs in each country, with the other variables remaining unchanged, the recoverable amount would still be higher than the corresponding carrying amount. Management also considers that the appearance of potential competitors in the market in which the Atento Group operates could negatively affect the growth of its CGUs. In addition, if as a result of a fall in demand or an increase in costs, results before amortization/depreciation, finance cost and taxes margin (EBITDA margin) used for estimating cash flow were to keep constant for the five years in each country, with all other variables remaining unchanged, the recoverable amount from each cash generating unit would continue to be higher than its corresponding carrying amount.

In addition to the above, specifically for certain countries, the following assumptions were used:

Cash flow for the Brazil, Mexico, Spain, Colombia, Peru Chile and Argentina CGUs were estimated based on growth projections considering past business performance, using predicted inflation levels taken from external sources. For calculations regarding the Spanish CGU, negative and positive business forecasts were used which contemplate macroeconomic trends and changes in the environment.

v3.19.1
PROPERTY, PLANT AND EQUIPMENT (PP&E)
12 Months Ended
Dec. 31, 2018
Disclosure of detailed information about property, plant and equipment [abstract]  
Disclosure of property, plant and equipment [text block]

9) PROPERTY, PLANT AND EQUIPMENT (PP&E)

Details of property, plant and equipment at December 31, 2017 and 2018 are as follow:

Thousands of U.S. dollars
Balance at December 31, 2016Additions Acquisitions from business combinationDisposals Transfers Translation differencesBalance at December 31, 2017
Cost
Buildings 9,792272---1,37911,443
Plant and machinery 6,843211575-4375938,659
Furniture, tools and other tangible assets317,22827,8002,053(32,300)3,11711,160329,058
PP&E under construction 9,26421,893-(10,637)(3,554)2,04219,008
Total cost343,12750,1762,628(42,937)-15,174368,168
Accumulated depreciation
Buildings (3,232)(839)-653-(460)(3,878)
Plant and machinery (4,068)(1,049)-13-(583)(5,687)
Furniture, tools and other tangible assets(170,557)(47,338)-17,827-(6,340)(206,408)
Total accumulated depreciation (177,857)(49,226)-18,493-(7,383)(215,973)
Property, plant and equipment 165,2709502,628(24,444)-7,791152,195

Thousands of U.S. dollars
Balance at December 31, 2017Additions Acquisitions from business combinationDisposals Transfers Translation differencesHyperinflationAdjustmentsBalance at December 31, 2018
Cost
Buildings 11,443--(1)-(514)1,20112,129
Plant and machinery 8,65955-(59)-(468)-8,187
Furniture, tools and other tangible assets329,05815,154-(18,204)952(32,412)-294,548
PP&E under construction 19,00812,542-(963)(5,314)(2,853)-22,420
Total cost368,16827,751-(19,227)(4,362)(36,247)1,201337,284
Accumulated depreciation
Buildings (3,878)(396)---316(467)(4,425)
Plant and machinery (5,687)(1,010)---365-(6,332)
Furniture, tools and other tangible assets(206,408)(35,160)-18,749-20,232-(202,587)
Total accumulated depreciation (215,973)(36,566)-18,749-20,913(467)(213,344)
Property, plant and equipment 152,195(8,815)-(478)(4,362)(15,334)734123,940

Additions for the year 2018 mainly represent the construction of a new site in Puerto Rico in the amount of $6.600 thousand of US dollars, the construction of new sites in Mexico (Azafran and Centro Histórico), remodeling of existing sites and equipment’s in the amount of $7,400 thousand of US dollars, and implementation of a new site, remodeling of existing ones and equipment’s in the amount in Atento Brasil in the amount of $5,600 thousand of US dollars

No impairment was recognized on items of property, plant and equipment in 2017 and 2018.

All Atento Group companies have contracted insurance policies to cover potential risks to their items of PP&E. Management considers that coverage of these risks was sufficient at December 31, 2017 and 2018.

v3.19.1
LEASES AND SIMILAR ARRANGEMENTS
12 Months Ended
Dec. 31, 2018
Disclosure of recognised finance lease as assets by lessee [abstract]  
Disclosure of leases [text block]

10) LEASES AND SIMILAR ARRANGEMENTS

a) Finance leases

The Atento Group holds the following assets under finance leases:

Thousands of U.S. dollars
Net carrying amount of asset
20172018
Finance leases
Furniture, tools and other tangible assets 6,6194,815
Plant and machinery1,847983
Total 8,4665,798

On April 25, 2017, Atento Brasil S.A. entered in a sale leaseback agreement with HP Financial Services Arrendamento Mercantil S.A. in an amount of 23,615 thousand Brazilian Reais, equivalent to 6,094 thousand U.S. dollars as of December 31, 2018, which will be repaid in 36 monthly installments.

On July 24, 2017, Atento Brasil S.A. entered in a new sale leaseback agreement with HP Financial Services Arrendamento Mercantil S.A. in an amount of 4,220 thousand Brazilian Reais, equivalent to 1,089 thousand U.S. dollars as of December 31, 2018, which will be repaid in 60 monthly installments.

On August 24, 2017, Atento Brasil S.A. entered in a new sale leaseback agreement with HP Financial Services Arrendamento Mercantil S.A. in an amount of 4,570 thousand Brazilian Reais, equivalent to 1,179 thousand U.S. dollars as of December 31, 2018, which will be repaid in 60 monthly installments.

The assets acquired under finance leases are located in Brazil, Colombia and Peru. The present value of future finance lease payments is as follow:

Thousands of U.S. dollars
20172018
Up to 1 year (Note 17)4,2603,158
Between 1 and 5 years (Note 17)6,2382,369
Total 10,4985,527
v3.19.1
FINANCIAL ASSETS
12 Months Ended
Dec. 31, 2018
Disclosure of financial assets [abstract]  
Disclosure of financial assets [text block]

11) FINANCIAL ASSETS

As of December 31, 2017 and 2018 all the financial assets of the Company are classified as amortized cost, except for the derivative financial instruments that are categorized as fair value through profit or loss.

Credit risk arises from the possibility that the Atento Group might not recover its financial assets at the amounts recognized and in the established terms. Atento Group Management considers that the carrying amount of financial assets is similar to the fair value.

As of December 31, 2018, Atento Teleservicios España S.A., Atento Chile S.A., Atento Colombia S.A., Teleatento del Perú S.A.C and Atento Brasil S.A. have entered into factoring agreements without recourse, anticipating an amount of 259,258 thousand U.S. dollars, receiving cash net of discount, the related trade receivables were realized and interest expenses was recognized in the statement of operations.

v3.19.1
OTHER FINANCIAL ASSETS
12 Months Ended
Dec. 31, 2018
Miscellaneous assets [abstract]  
Disclosure of other assets [text block]

12) OTHER FINANCIAL ASSETS

Details of other financial assets at December 31, 2017 and 2018 are as follow:

Thousands of U.S. dollars
20172018
Other non-current receivables (*)11,12513,232
Non-current guarantees and deposits 49,09751,838
Total non-current 60,22265,070
Other current receivables 805272
Current guarantees and deposits 1,005619
Total current 1,810891
Total 62,03265,961

(*) “Other non-current receivables” as of December 31, 2017 and 2018 primarily comprise a loan granted by the subsidiary RBrasil to third parties. The effective annual interest rate is CDI + 3.75% p.a., maturing up to five years beginning in May 4, 2017, when the value of the loan will be amortized in a single installment.

v3.19.1
TRADE AND OTHER RECEIVABLES
12 Months Ended
Dec. 31, 2018
Trade and other receivables [abstract]  
Disclosure of trade and other receivables [text block]

13) TRADE AND OTHER RECEIVABLES

The breakdown of “Trade and other receivables” at December 31, 2017 and 2018 is as follow:

Thousands of U.S. dollars
20172018
Non-current trade receivables 6,9236,430
Other non-financial assets (*)14,75412,718
Total non-current 21,67719,148
Current trade receivables 358,311279,926
Other receivables 13,2258,439
Prepayments 7,84918,332
Personnel 9,1808,957
Total current 388,565315,654
Total 410,242334,802
(*) "Other non-financial assets" as of December 31, 2018 primarily comprise tax credits with the Brazilian social security authority (Instituto Nacional do Seguro Social), recorded in Atento Brasil S.A.

Thousands of U.S. dollars
20172018
Trade receivables 371,333288,531
Allowances of trade receivables(6,099)(2,175)
Trade receivables, net 365,234286,356

As of December 31, 2018, trade receivables not yet due for which no provision has been made amounted to 263,605 thousand U.S. dollars (338,350thousand U.S. dollars as of December 31, 2017).

As of December 31, 2018, trade receivables due for which no provision has been made amounted to 22,751 thousand U.S. dollars (26,884 thousand U.S. dollars as of December 31, 2017). These balances relate to certain customers with no recent history of default. The aging analysis of these accounts is as follow:

Thousands of U.S. dollars
Less than 90 daysBetween 90 and 180 daysBetween 180 and 360 daysOver 360 daysTotal
12/31/201720,2681,4761,7343,40626,884
12/31/201814,7041,0262,6914,33022,751

Changes in allowances of trade receivables in 2017 and 2018 were as follow:

Thousands of U.S. dollars
20172018
Opening balance (4,279)(6,099)
Allowance of trade receivables(3,061)(1,854)
Reversal 553824
Write off-3,031
Translation differences 6881,923
Total(6,099)(2,175)

The Atento Group’s maximum exposure to credit risk at the reporting date is equivalent to the carrying amount of each of the aforementioned trade receivables categories. The Atento Group holds no guarantees as collection insurance.

v3.19.1
DERIVATIVE FINANCIAL INSTRUMENTS
12 Months Ended
Dec. 31, 2018
Disclosure of detailed information about financial instruments [abstract]  
Disclosure of derivative financial instruments [text block]

14) DERIVATIVE FINANCIAL INSTRUMENTS

Details of derivative financial instruments at December 31, 2017 and 2018 are as follow:

Thousands of U.S. dollars
20172018
AssetsLiabilitiesAssetsLiabilities
Interest rate swaps - cash flow hedges-(1,212)--
Cross currency swaps - net investment hedges7,429(5,140)11,313-
Cross currency swaps - that do not meet the criteria for hedge accounting 748--(682)
Total 8,177(6,352)11,313(682)
Non-current portion 8,177(5,140)11,313(682)
Current portion -(1,212)--

Derivatives held for trading are classified as current assets or current liabilities. The fair value of a hedging derivative is classified as a non­current asset or a non­current liability, as applicable, if the remaining maturity of the hedged item exceeds twelve months. Otherwise, it is classified as a current asset or liability.

In connection with the Refinancing process and the repayment of the first Brazilian Debentures, the hedge accounting for the interest rate swap was discontinued and the OCI balance was transferred to finance cost. Thereafter, any changes in fair value will be directly recognized in the statement of operations.

On April 1, 2015, the Company started a hedge accounting for net investment hedge related to exchange risk between the U.S. dollar and foreign operations in Euro (EUR), Mexican Peso (MXN), Colombian Peso (COP) and Peruvian Nuevo Sol (PEN). In connection with the Refinancing process, 8 of the 10 derivatives contracts designated as Net Investment Hedges were terminated between August 1, 2017 and August 4, 2017, generating positive cash of 46,080 thousand U.S. dollars, net of charges. During August 2017, Atento Luxco 1 also entered into new Cross-Currency Swaps related to exchange risk between U.S. dollars and Euro (EUR), Mexican Peso (MXN), Brazilian Reais (BRL) and Peruvian Nuevo Sol (PEN). Except for the Cross-Currency Swap between U.S. dollars and Brazilian Reais, all other Cross-Currency Swaps were designated for hedge accounting as net investment hedge.

On March 5, 2018, Atento Brasil S.A. entered into a cross-currency swap to hedge a USD loan of 10,092 thousand U.S. dollars at a fixed rate of 3.40% exchanged to a 33,000 thousand Brazilian Reais with interest rate of the average daily rate of the one day “over extra-group” – DI – Interfinancial Deposits - plus a spread of 2.10% per annum.

At December 31, 2017 and 2018, details of interest rate swap, cross-currency swaps that do not qualify for hedge accounting and net investment hedges were as follows:

2017
Interest Rate Swap
BankMaturityNotionalcurrencyIndexNotional in contract currency (thousands)Fair value liabilityOther comprehensive income, net of taxesChange inOCI, net of taxesStatements of operations - Finance costStatements of operations - Change in fair value
D/(C)D/(C)D/(C)D/(C)D/(C)
ItauDec-18BRLBRL CDI135,000(1,212)-(781)954-
(1,212)-(781)954-
Cross Currency Swaps - that do not qualify for hedge accounting
BankMaturityPurchase currencySelling currencyNotional (thousands)Fair value assetOther comprehensive incomeChange inOCI, net of taxesStatements of operations - Finance costStatements of operations - Change in fair value
D/(C)D/(C)D/(C)D/(C)D/(C)
ABC Brasil S.A.Nov-17USDBRL12,232---(1,863)-
Goldman SachsAug-22BRLUSD754,440748---(748)
748--(1,863)(748)
Net Investment Hedges
BankMaturityPurchase currencySelling currencyNotional (thousands)Fair value asset/(liability)Other comprehensive incomeChange inOCIIncome statement - Finance CostIncome statement - Change in fair value
D/(C)D/(C)D/(C)D/(C)D/(C)
Nomura International22-AugEURUSD34,109(382)382(382)--
Goldman Sachs22-AugMXNUSD1,065,0607,256(7,256)7,256--
Goldman Sachs22-AugPENUSD194,460(4,758)4,758(4,758)--
Santander20-JanUSDEUR20,000-1,742(2,522)-88
Santander20-JanUSDMXN11,111-(2,113)(2,411)-21
Goldman Sachs20-JanUSDEUR48,000-3,587(5,452)-217
Goldman Sachs20-JanUSDMXN40,000-(7,600)(8,671)-(47)
Nomura International20-JanUSDMXN23,889-(4,357)(5,358)-105
Nomura International20-JanUSDEUR22,000-1,620(2,476)-99
Goldman Sachs18-JanUSDPEN13,8008419(59)-6
BBVA18-JanUSDPEN55,200-71(229)-23
Goldman Sachs18-JanUSDCOP7,20089(88)(19)-(1)
BBVA18-JanUSDCOP28,800-(359)(65)-7
2,289(9,594)(25,146)-518
Total1,825(9,594)(25,927)(909)(230)
Derivative financial instrument-asset8,177
Derivative financial instrument-liability(6,352)

2018
Interest Rate Swap
BankMaturityNotionalcurrencyIndexNotional in contract currency (thousands)Fair value assetsFair value liabilityOthercomprehensiveincome, net oftaxesChange inOCI, net of taxesStatements of operations - Finance cost
D/(C)D/(C)D/(C)D/(C)D/(C)
ItauDec-18BRLBRL CDI135,000----972
----972
Cross Currency Swaps - that do not qualify for hedge accounting
BankMaturityPurchase currencySelling currencyNotional (thousands)Fair value assetsFair value liabilityOther comprehensive incomeChange in OCI, net of taxesStatements of operations - Finance cost
D/(C)D/(C)D/(C)D/(C)D/(C)
Goldman SachsAug-22BRLUSD754,4406,020---(4,302)
6,020---(4,302)
Cross-currency swap- Net Investment Hedges
BankMaturityPurchase currencySelling currencyNotional (thousands)Fair value assetsFair value liabilityOther comprehensive incomeChange inOCIIncome statement - Finance Cost
D/(C)D/(C)D/(C)D/(C)D/(C)
Nomura International22-AugEURUSD34,109189-(257)640-
Goldman Sachs22-AugMXNUSD1,065,0606,025(922)(3,094)(4,163)-
Goldman Sachs22-AugPENUSD194,460-(682)2,4132,333-
Santander20-JanUSDEUR20,000--1,742 - -
Santander20-JanUSDMXN11,111--(2,113) - -
Goldman Sachs20-JanUSDEUR48,000--3,587 - -
Goldman Sachs20-JanUSDMXN40,000--(7,600) - -
Nomura International20-JanUSDMXN23,889--(4,357) - -
Nomura International20-JanUSDEUR22,000--1,620 - -
Goldman Sachs18-JanUSDPEN13,800--22--
Goldman Sachs18-JanUSDCOP7,200--(80)--
BBVA18-JanUSDPEN55,200-71 - -
BBVA18-JanUSDCOP28,800--(359) - -
6,214(1,604)(8,405)(1,190)-
Total12,234(1,604)(8,405)(1,190)(3,330)
Derivative financial instrument-asset11,313
Derivative financial instrument-liability(682)

Gains and losses on net investment hedges accumulated in equity will be taken to the statement of operations when the foreign operation is partially disposed of or sold.

v3.19.1
CASH AND CASH EQUIVALENTS
12 Months Ended
Dec. 31, 2018
Cash and cash equivalents [abstract]  
Disclosure of cash and cash equivalents [text block]

15) CASH AND CASH EQUIVALENTS

Thousands of U.S. dollars
20172018
Deposits held at call111,495100,706
Short-term financial investments30,26732,820
Total 141,762133,526

Short-term financial investments” comprises short-term fixed­income securities in Brazil, which mature in less than 90 days and accrue interest pegged to the CDI.

v3.19.1
FINANCIAL LIABILITIES
12 Months Ended
Dec. 31, 2018
Disclosure of financial liabilities [abstract]  
Disclosure of financial liabilities [text block]

16) FINANCIAL LIABILITIES

As of December 31, 2017 and 2018 all the financial liabilities of the Company are classified as other financial liabilities at amortized cost, except for the derivative financial instruments and options for acquisitions of NCI that are classified as financial liability at fair value through profit or loss.

The payments schedule for other financial liabilities, trade and other payables and liabilities at December 31, 2017 and 2018, including estimated future interest payments, calculated based on interest rates and foreign exchange rates applicable as at December 31, 2017 and 2018 are as follow:

2017Thousands of U.S. dollars
Maturity (years)
20182019202020212022More than 5 yearsTotal
Senior Secured Notes 24,50024,50024,50024,500424,500-522,500
Brazilian bonds—Debentures 5,9435,5665,2764,9014,4582,02628,170
Finance leases 5,1284,2611,907887442-12,625
Bank borrowings 30,99424,2254,373558438-60,588
Trade and other payables 208,5328,094----216,626
Total financial liabilities 275,09766,64636,05630,846429,8382,026840,509
2018Thousands of U.S. dollars
Maturity (years)
20192020202120222023More than 5 yearsTotal
Senior Secured Notes 24,50024,50024,500424,500 - -498,000
Brazilian bonds—Debentures 4,6984,3784,0913,7591,721-18,647
Finance leases 3,7851,691794384 - -6,654
Bank borrowings 36,1763,726474372 - -40,748
Trade and other payables 184,88614,391----199,277
Total financial liabilities 254,04548,68629,859429,0151,721-763,326
v3.19.1
FINANCIAL DEBT WITH THIRD PARTIES
12 Months Ended
Dec. 31, 2018
Borrowings [abstract]  
Disclosure of debt instruments [text block]

17) FINANCIAL DEBT WITH THIRD PARTIES

Details of debt with third parties at December 31, 2017 and 2018 are as follow:

Thousands of U.S. dollars
20172018
Senior Secured Notes 388,818390,507
Brazilian bonds—Debentures 16,79711,163
Bank borrowing27,8784,387
Finance lease payables (Note 10) 6,2382,369
Total non-current 439,731408,426
Senior Secured Notes 9,5289,528
Brazilian bonds—Debentures 4,2583,545
Bank borrowing 28,51435,111
Finance lease payables (Note 10) 4,2603,158
Total current 46,56051,342
TOTAL DEBT WITH THIRD PARTIES486,291459,768

Senior Secured Notes

On January 29, 2013, Atento Luxco 1 S.A. issued 300,000 thousand U.S. dollars aggregate principal amount of Senior Secured Notes that would mature on January 29, 2020. The 2020 Senior Secured Notes were senior secured obligations of Atento Luxco 1 and were guaranteed on a senior secured first-priority basis by Atento Luxco 1 and certain of its subsidiaries excluding Argentina and Brazil subsidiaries. The Senior Secured Notes were also guaranteed on an unsecured basis by Atento S.A. and Midco.

The indenture governing the 2020 Senior Secured Notes contained covenants that, among other things, restricted the ability of Atento Luxco 1 and certain of its subsidiaries to: incur or guarantee additional indebtedness; pay dividends or make distributions or redeem or repurchase capital stock; issue, redeem or repurchase certain debt; issue certain preferred stock or similar equity securities; make loans and investments; sell assets; incur liens; enter into transaction with affiliates; enter into agreements restricting certain subsidiaries’ ability to pay dividends; and consolidate, merge or sell all or substantially all of our assets. These covenants were subject to a number of important exceptions and qualifications. In addition, in certain circumstances, if Atento Luxco 1 sell assets or experiences certain changes of control, it must offer to purchase the 2020 Senior Secured Notes.

On August 19, 2017, in connection with the offering described below, Atento Luxco 1 redeemed all of the outstanding amount of the 2020 Senior Secured Notes. The notes were called at a premium over face value of 103.688% per note, resulting in a total call cost of 11,064 thousand U.S. dollars recorded in finance costs during August 2017, along with the remaining balance of the 2020 Senior Secured Notes issuance amortized cost of 4,920 thousand U.S. dollars.

On August 10, 2017, Atento Luxco 1 S.A., closed an offering of 400,000 thousand U.S. dollars aggregate principal amount of 6.125% Senior Secured Notes due 2022 in a private placement transaction. The notes are due on August 2022. The 2022 Senior Secured Notes are guaranteed on a senior secured basis by certain of Atento’s wholly-owned subsidiaries. The issuance costs of 11,979 thousand U.S. dollars related to this new issuance are recorded at amortized cost using the effective interest method.

The terms of the Indenture, among other things, limit, in certain circumstances, the ability of Atento Luxco 1 and its restricted subsidiaries to: incur certain additional indebtedness; make certain dividends, distributions, investments and other restricted payments; sell the property or assets to another person; incur additional liens; guarantee additional debt; and enter into transaction with affiliates. As of December 31, 2018, we were in compliance with these covenants. The outstanding amount on December 31, 2018 is 400,035 thousand U.S. dollars.

All interest payments are made on a half yearly basis.

The fair value of the Senior Secured Notes, calculated on the basis of their quoted price at December 31, 2018, is 379,233 thousand U.S. dollars.

The fair value hierarchy of the Senior Secured Notes is Level 1 as the fair value is based on the quoted market price at the reporting date.

Details of the corresponding debt at each reporting date are as follow:

Thousands of U.S. dollars
20172018
MaturityCurrencyPrincipalAccrued interestsTotal debtPrincipalAccrued interestsTotal debt
2022U.S. dollar 388,8189,528398,346390,5079,528400,035

Debentures

On November 22, 2012, BC Brazilco Participações, S.A. (merged into Atento Brasil S.A.) (the “Brazilian Issuer”) entered into an indenture for the issuance of 915 million Brazilian Reais (equivalent to approximately $365 million) of Brazilian Debentures due December 12, 2019. The Brazilian Debentures bear interest at a rate per annum equal to the average daily rate of the One Day “over extragroup”—DI—Interfinancial Deposits (as such rate is disclosed by CETIP S.A. —Mercados Organizados (“CETIP”) in the daily release available on its web page), plus a spread of 3.70%.

On March 25, 2013 and June 11, 2013, Atento Brasil, S.A. repaid, in advance of the schedule date BRL71.6 million (equivalent to $35.5 million) and BRL26.4 million (equivalent to $12.3 million), respectively.

On May 12, 2014, June 26, 2014 and August 28, 2014, Atento Brasil, S.A. repaid, in advance of the schedule date, BRL34.4 million (equivalent to $15.5. million), BRL45.0 million (equivalent to $20.4 million) and BRL80.0 million (equivalent to $33.1 million), respectively of the Brazilian Debentures.

On December 12, 2016, Atento Brasil, S.A. repaid on the schedule date, 44,562 thousand Brazilian Reais (equivalent to 13,673 thousand U.S. dollars) and on December 26, 2016, repaid in advance of the schedule date, 100,000 thousand Brazilian Reais (equivalent to 30,683 thousand U.S. dollars).

On April 27, 2017, Atento Brasil S.A. repaid in advance of the maturity date, 84,700 thousand Brazilian Reais (equivalent to 27,007 thousand U.S. dollars) of the 1st Brazilian Debentures due 2019. On August 21, 2017, Atento Brasil S.A. repaid in advance of the maturity date all the outstanding amount. The amount repaid was 428,350 thousand Brazilian Reais (equivalent to 135,945 thousand U.S. dollars) plus interest accrued of 10,944 thousand Brazilian Reais (equivalent to 3,473 thousand U.S. dollars) and 2,142 thousand Brazilian Reais (equivalent to 680 thousand U.S. dollars) of penalty fee due to early repayment. In addition to the penalty fee, the remaining balance of the first Debentures issuance of 3,050 thousand Brazilian Reais (equivalent to 968 thousand U.S. dollars) were recorded in finance costs in August 2017. As of December 31, 2017, there was no outstanding amount related to the Debentures due 2019.

On May 2, 2017, Atento Brasil S.A. entered into an indenture (“Second Brazilian Debenture”) for the issuance costs of 70,000 thousand Brazilian Reais (equivalent to approximately 22,096 thousand U.S. dollars) of Brazilian Debentures due April 25, 2023. The Second Brazilian Debenture bear interest at a rate per annum equal to the average daily rate of the one day “over extragroup” – DI – Interfinancial Deposits (as such rate is disclosed by CETIP S.A – Mercados Organizados (“CETIP”) in the daily release available on its web page, plus a spread of 3.75%. The amortization schedule is: April 25, 2018: 9.1%; October 25, 2018: 9.1%; April 25, 2019: 9.1%; October 25, 2019: 9.1%; April 25, 2020: 9.1%; October 25, 2020: 9.1%; April 25, 2021: 9.1%; October 25, 2021: 9.1%; April 25, 2022: 9.1%; October 25, 2022: 9.1%; April 25, 2023: 9,0%. The outstanding amount on December 31, 2018 is $14,708 thousand.

Under the term of the indenture, the Brazilian subsidiary must comply with the quarterly net financial debt / EBITDA ratio set out in the contract terms. As of December 31, 2018, Atento Brasil S.A. was in compliance with this covenant.

Details of the corresponding debt at each reporting date are as follow:

Thousands of U.S. dollars
20172018
MaturityCurrencyPrincipalAccrued interestsTotal debtPrincipalAccrued interestsTotal debt
2023Brazilian Reais16,7974,25821,05511,1633,54514,708

The fair value as of December 31, 2018 calculated based on discounted cash flow is 15,643 thousand U.S. dollars.

Bank borrowings

On February 3, 2014, Atento Brasil S.A. entered into a credit agreement with Banco Nacional de Desenvolvimento Econômico e Social - BNDES (“BNDES”) in an aggregate principal amount of 300,000 thousand Brazilian Reais (the “BNDES Credit Facility”), equivalent to 77,413 thousand U.S. dollars as of December 31, 2018.

The total amount of the BNDES Credit Facility is divided into five tranches subject to the following interest rates:

TrancheInterest Rate
Tranche ALong-Term Interest Rate (Taxa de Juros de Longo Prazo — TJLP) plus 2.5% per annum
Tranche BSELIC Rate plus 2.5% per annum
Tranche C4.0% per year
Tranche D6.0% per year
Tranche ELong-Term Interest Rate (Taxa de Juros de Longo Prazo — TJLP)

Each tranche intends to finance different purposes, as described below:

Tranche A and B: investments in workstations, infrastructure, technology, services and software development, marketing and commercialization, within the scope of BNDES programBNDES Prosoft.

Tranche C: IT equipment acquisition, covered by law 8.248/91, with national technology, necessary to execute the project described on tranches “A” and “B”.

Tranche D: acquisitions of domestic machinery and equipment, within the criteria of FINAME, necessary to execute the project described on tranches “A” and “B”.

Tranche E: investments in social projects to be executed by Atento Brasil S.A.

BNDES releases amounts under the credit facility once the debtor met certain requirements in the contract including delivering the guarantee (stand-by letter) and demonstrating the expenditure related to the project. Since the beginning of the credit facility, the following amounts were released:

(Thousands of U.S. dollars)
DateTranche ATranche BTranche CTranche DTranche ETotal
March 27, 20146,540-3,229-4,520-323--14,612
April 16, 20142,718-1,359-1,903-136--6,116
July 16, 2014--------155155
August 13, 201416,154-1,764-2,594-279--20,791
Subtotal 201425,4126,3529,01773815541,674
March 26, 20154,738-1,185-1,682-138--7,743
April 17, 20159,477-2,369-3,363-275--15,484
December 21, 20157,452-1,857-----1819,490
Subtotal 201521,6675,4115,04541318132,717
October 27, 2016--------197197
Subtotal 2016----197197
Total47,07911,76314,0621,15153374,588

Financing activities

See below the changes in debt with third parties arising from financing activities:

2016Thousands of U.S. dollars
December 31, 2015Cash flows from/(used in financing activities)New leasesInterest accruedInterest paid (*)Foreign exchange lossesAmortization (addition) feesTranslation differencesOtherDecember 31, 2016
New borrowingAmortizationFair value adjustment
Senior Secured Notes 301,713---22,128(22,128)--1,637--303,350
Brazilian bonds - Debentures168,091-(44,356)-33,013(36,598)--76435,682-156,596
CVI26,240-----2,314(27,762)-(792)--
Finance lease payables4,737-(542)-303(303)-(805)-246-3,636
Other borrowings74,785235(18,032)-7,265(7,058)---14,158-71,353
Total575,566235(62,930)-62,709(66,087)2,314(28,567)2,40149,294-534,935
2017Thousands of U.S. dollars
December 31, 2016Cash flows from/(used in financing activities)New leasesInterest accruedInterest paid (*)Foreign exchange lossesAmortization (addition) feesTranslation differencesOtherDecember 31, 2017
New borrowingAmortizationFair value adjustment
Senior Secured Notes 303,350400,000(300,000)-23,609(23,361)--(5,252)--398,346
Brazilian bonds - Debentures156,59622,320(162,591)-15,373(15,331)--8373,851-21,055
Finance lease payables3,636-(2,816)10,302425(425)---(624)-10,498
Other borrowings71,35352,145(69,053)-5,485(5,051)---1,513-56,392
Total534,935474,465(534,460)10,30244,892(44,168)--(4,415)4,740-486,291
2018Thousands of U.S. dollars
December 31, 2017Cash flows from/(used in financing activities)New leasesInterest accruedInterest paid (*)Foreign exchange lossesAmortization (addition) feesTranslation differencesOtherDecember 31, 2018
New borrowingAmortizationFair value adjustment
Senior Secured Notes 398,346- - -24,500(24,500)--2,245(556)-400,035
Brazilian Debentures21,055-(3,543)-1,809(1,920)--(118)(2,568)-14,715
Finance Lease Payables10,498-(4,221)-856(856)-- - (770)-5,507
Other borrowings56,39258,462(73,911)-3,491(6,283)-- - 1,339-39,490
Total486,29158,462(81,675)-30,656(33,559)--2,127(2,555)-459,747

This facility should be repaid in 48 monthly installments. The first payment was made on March 15, 2016 and the last payment will be due on February 15, 2020.

The BNDES Credit Facility contains covenants that restrict Atento Brasil S.A.’s ability to transfer, assign, change or sell the intellectual property rights related to technology and products developed by Atento Brasil S.A. with the proceeds from the BNDES Credit Facility. As of December 31, 2018, Atento Brasil S.A. was in compliance with these covenants. The BNDES Credit Facility does not contain any other financial maintenance covenant.

The BNDES Credit Facility contains customary events of default including the following: (i) reduction of the number of employees without providing program support for outplacement, as training, job seeking assistance and obtaining pre­approval of BNDES; (ii) existence of unfavorable court decision against the Company for the use of children as workforce, slavery or any environmental crimes and (iii) inclusion in the by­laws of Atento Brasil S.A. of any provision that restricts Atento Brasil S.A’s ability to comply with its financial obligations under the BNDES Credit Facility.

On September 26, 2016, Atento Brasil S.A. entered into a new credit agreement with BNDES in an aggregate principal amount of 22,000 thousand Brazilian Reais, equivalent to 5,703 thousand U.S. dollars as of December 31, 2018. The interest rate of this facility is Long-Term Interest Rate (Taxa de Juros de Longo Prazo - TJLP) plus 2.0% per annum. The facility should be repaid in 48 monthly installments. The first payment was due on November 15, 2018 and the last payment will be due on October 15, 2022. This facility is intended to finance an energy efficiency project to reduce power consumption by implementing new lightening, air conditioning and automation technology. On November 24, 2017, 6,500 thousand Brazilian Reais (equivalent to 1,993 thousand U.S. dollars) were released under this facility.

As of December 31, 2018, the outstanding amount under BNDES Credit Facility was 23,974 thousand U.S. dollars.

The fair value as of December 31, 2018 calculated based on discounted cash flow is 24,254 thousand U.S. dollars.

On April 25, 2017, Atento Brasil S.A. entered into a bank credit certificate (cédula de crédito bancário) with Banco Santander (Brasil) S.A. in an aggregate principal amount of up to BRL80.0 million (the “2017 Santander Bank Credit Certificate”), equivalent to approximately $20.6 million as of December 31, 2018. The interest rate of the 2017 Santander Bank Credit Certificate equals to the average daily rate of the one day “over extra-group” – DI – Interfinancial Deposits (as such rate is disclosed by CETIP in the daily release available on its web page), plus a spread of 2.70% per annum. The 2017 Santander Bank Credit Certificate matured on July 25, 2017 and was extended until September 3, 2018 and the aggregate principal amount was modified to 75.0 million Brazilian Reais. On October 11, 2018, the maturity was extended until April 11, 2019 and the aggregate principal amount was modified to 100.0 million Brazilian Reais, equivalent to approximately $25.8 million as of December 31, 2018. As of December 31, 2018, there was no outstanding balance under the 2017 Santander Bank Credit Certificate.

As of December 31, 2018, there was no outstanding balance under the 2017 Santander Bank Credit Certificate.

On March 5, 2018, Atento Brasil S.A. entered into an agreement with Banco ABC Brasil for an amount of 10,092 thousand U.S. dollars maturing on September 3, 2018 with an annual interest rate of 3.40%. In connection with the loan, Atento Brasil S.A. entered into a SWAP agreement through which it receives fixed interest rates in U.S. dollars, in the same amount of the loan agreement, and pays variable interest rate at a rate per annum equal to the average daily rate of the one day “over extragroup” – DI – Interfinancial Deposits (as such rate is disclosed by CETIP in the daily release available on its web page), plus a spread of 2.10% over 33,000 thousand Brazilian Reais. As of December 31, 2018, the outstanding balance was zero.

On August 10, 2017, Atento Luxco 1 S.A. entered into a new Super Senior Revolving Credit Facility (the “Super Senior Revolving Credit Facility”) which provides borrowings capacity of up to $50.0 million and will mature on February 10, 2022. Banco Bilbao Vizcaya Argentaria, S.A., as the agent, the Collateral Agent and BBVA Bancomer, S.A., Institución de Banca Múltiple, Grupo Financiero BBVA Bancomer, Morgan Stanley Bank N.A. and Goldman Sachs Bank USA are acting as arrangers and lenders under the Super Senior Revolving Credit Facility.

The Super Senior Revolving Credit Facility may be utilized in the form of multi-currency advances for terms of one, two, three or six months. The Super Senior Revolving Credit Facility bears interest at a rate per annum equal to LIBOR or, for borrowings in euro, EURIBOR or, for borrowings in Mexican Pesos, TIIE plus an opening margin of 4.25% per annum. The margin may be reduced under a margin ratchet to 3.75% per annum by reference to the consolidated senior secured net leverage ratio and the satisfaction of certain other conditions.

The terms of the Super Senior Revolving Credit Facility Agreement limit, among other things, the ability of the Issuer and its restricted subsidiaries to (i) incur additional indebtedness or guarantee indebtedness; (ii) create liens or use assets as security in other transactions; (iii) declare or pay dividends, redeem stock or make other distributions to stockholders; (iv) make investments; (v) merge, amalgamate or consolidate, or sell, transfer, lease or dispose of substantially all of the assets of the Issuer and its restricted subsidiaries; (vi) enter into transactions with affiliates; (vii) sell or transfer certain assets; and (viii) agree to certain restrictions on the ability of restricted subsidiaries to make payments to the Issuer and its restricted subsidiaries. These covenants are subject to a number of important conditions, qualifications, exceptions and limitations that are described in the Super Senior Revolving Credit Facility Agreement.

The Super Senior Revolving Credit Facility Agreement includes a financial covenant requiring the drawn super senior leverage ratio not to exceed 0.35:1.00 (the “SSRCF Financial Covenant”). The SSRCF Financial Covenant is calculated as the ratio of consolidated drawn super senior facilities debt to consolidated pro forma EBITDA for the twelve-month period preceding the relevant quarterly testing date and is tested quarterly on a rolling basis, subject to the Super Senior Revolving Credit Facility being at least 35% drawn (excluding letters of credit (or bank guarantees), ancillary facilities and any related fees or expenses) on the relevant test date. The SSRCF Financial Covenant only acts as a draw stop to new drawings under the Revolving Credit Facility and, if breached, will not trigger a default or an event of default under the Super Senior Revolving Credit Facility Agreement. The Issuer has four equity cure rights in respect of the SSRCF Financial Covenant prior to the termination date of the Super Senior Revolving Credit Facility Agreement, and no more than two cure rights may be exercised in any four consecutive financial quarters. As of December 31, 2018, we were in compliance with this covenant and no amounts were released under the Super Senior Revolving Credit Facility.

On September 14, 2017, Atento Luxco 1 S.A. and Atento Brasil S.A. entered into an Agreement for a Common Revolving Credit Facility Line with Santander Brasil, Estabelecimento Financeiro de Crédito S.A. in respect of a bi-lateral, multi-currency revolving credit facilities. Up to $20.0 million of commitments are available for the drawing of cash loans in Euro and Mexican Pesos (MXN). The original borrowers under this facility are Atento Teleservicios España, S.A.U and Atento Servicios, S.A. de C.V. This facility is guaranteed by Atento Luxco 1 S.A. and Atento Brasil S.A. on a joint-and-several basis. This facility matures one year after the date of the Agreement. As of December 31, 2018, the outstanding amount under this facility was zero.

v3.19.1
TRADE AND OTHER NON TRADE PAYABLES
12 Months Ended
Dec. 31, 2018
Trade and other payables [abstract]  
Disclosure of trade and other payables [text block]

18) TRADE AND OTHER NON-TRADE PAYABLES

Details of trade and other payables at December 31, 2017 and 2018 are as follow:

Thousands of U.S. dollars
20172018
Other payables7,75013,744
Suppliers344647
Total non-current non-trade payables8,09414,391
Suppliers92,21674,616
Advances 1,8622,296
Total current trade payables94,07876,912
Suppliers of fixed assets 15,59826,003
Personnel80,63167,644
Other payables 17,78713,526
Advances from customers438789
Total current other non-trade payables114,454107,962
Total current 208,532184,874
Total216,626199,265

The carrying amount of trade and other non-trade payables is similar to the fair value.

v3.19.1
EQUITY
12 Months Ended
Dec. 31, 2018
Disclosure of classes of share capital [abstract]  
Disclosure of share capital, reserves and other equity interest [text block]

19) EQUITY

Share capital

As of December 31, 2018, share capital stood at 49 thousand U.S. dollars - €33,827 (48 thousand U.S. dollars - €33,304 as December 31, 2017), divided into 75,070,926 shares (73,909,056 shares in December 31, 2017). PikCo owns 64% of ordinary shares of Atento S.A.

Share premium

The share premium refers to the difference between the subscription price that the shareholders paid for the shares and their nominal value. Since this is a capital reserve, it can only be used to increase capital, offset losses, redeem, reimburse or repurchase shares.

Reserve for acquisition of non-controlling interest

Refers to options attributable to the parent company in the acquisition of RBrasil and Interfile in the total amount of 23,531 thousand U.S. dollars as of December 31, 2018 and December 31, 2017.

Dividends

On October 31, 2017, our Board of Directors declared a cash interim dividend of 24,147 thousand U.S. dollars with dividends declared per share of $0.33, paid on November 28, 2017. In 2018, this amount was restored from the Share Premium.

On December 31, 2018, the subsidiary Atento Brasil S.A distributes dividends to its minority shareholders in the amount of 1.186 thousand U.S dollars.

Legal reserve

According to commercial legislation in Luxembourg, Atento S.A. must transfer 5% of its year profits to legal reserve until the amount reaches 10% of share capital. The legal reserve cannot be distributed.

At December 31, 2017 and 2018, no legal reserve had been established, mainly due to the losses incurred by Atento S.A.

Translation differences

Translation differences reflect the differences arising on account of exchange rate fluctuations when converting the net assets of fully consolidated foreign companies from local currency into Atento Group’s presentation currency (U.S. dollars).

Treasury shares

Atento S.A. repurchased 1,106,158 shares during 2018 at a cost of 8,178 thousand of US dollars and an average price of $7.39

Retained earning/losses

In 2018, the subsidiary Atento Argentina recorded an amount of 35,524 thousand of US dollars, referring to monetary correction for the country to have become hyperinflationary balance at December 31, 2017.

Stock-based compensation

a) Description of share based payment arrangements

In 2014, Atento granted the following two share-based payment arrangements to directors, officers and other employees, for the Company and its subsidiaries;

1. Time Restricted Stock Units (“RSU”) (equity settled)

Grant date: December 3, 2014

Amount: 256,134 RSUs

Vesting period: 50% vests on October 1, 2015 and the remaining 50% vests on October 1, 2016.

There are no other vesting conditions.

2. Performance RSU (equity settled)

Grant date: December 3, 2014

Amount: 931,189 RSUs

Vesting period: 100% of the RSUs vest on October 1, 2017.

Performancebased vesting conditions:

TSR Tranche: 50% of the RSUs shall satisfy the performance based vesting condition, if at all, based on the Total Shareholder Return (“TSR”) thresholds set forth, and measured from October 1, 2014 through the end of the financial quarter immediately preceding October 1, 2017; provided, that the baseline price for purposes of measuring the TSR compound annual growth will be $15.00. The thresholds are as follow:

Below 10% compound annual growth: nil RSUs vest;

10% compound annual growth: 25% of the RSUs vest;

22% compound annual growth: 100% of the RSUs vest; and

Compound annual growth between 10% and 22%: RSUs vest based on a linear relationship

Adjusted EBITDA Tranche: The remaining 50% of the RSUs shall satisfy the performance based vesting condition, if at all, based on the Adjusted EBITDA thresholds set forth; provided, that for purposes of measuring the Adjusted EBITDA Tranche, the Performance Period shall include the time period between end of the financial quarter immediately preceding October 1, 2014 through the end of the financial quarter immediately preceding October 1, 2017. The thresholds are as follow:

Below 8% compound annual growth: nil RSUs vest;

8% compound annual growth: 25% of the RSUs vest;

13.5% compound annual growth: 100% of the RSUs vest; and

Compound annual growth between 8% and 13.5%: RSUs vest based on a linear relationship.

The TSR Tranche and the Adjusted EBITDA Tranche are treated separately. Thus, for example, even if the TSR threshold is not met, provided the Adjusted EBITDA threshold is met, PRSUs will vest.

As of October 1, 2015, a total of 125,509 TRSUs vested and were exercised. No grant was made in 2015. On July 1, 2016, Atento granted the following share-based payment arrangement to directors, officers and other employees, for the Company and its subsidiaries:

1. Time Restricted Stock Units (“RSU”) (equity settled)

• Grant date: July 1, 2016

• Amount: 1,384,982 RSUs

• Vesting period: 100% of the RSUs vest on January 4, 2019

• There are no other vesting conditions

In addition, an Extraordinary Grant of 81,257 Time Restricted Share Units to an Executive Officer in a one-time award with a two-year vesting period

As of October 3, 2016, a total of 157,925 TRSUs vested.

On May 31 and June 2, 2017, Atento granted a new share-based payment arrangement to Board directors (a total of 29,300 RSUs) in a one-time award with a one-year vesting period.

On July 3, 2017, Atento granted a new share-based payment arrangement to directors, officers and other employees, for the Company and its subsidiaries:

  • Time Restricted Stock Units (“RSU”) (equity settled)

• Grant date: July 3, 2017

• Amount: 886,187 RSUs

• Vesting period: 100% of the RSUs vest on January 2, 2020

• There are no other vesting conditions

On April 19, 2018, Atento granted a new share-based payment arrangement to Board directors (a total of 23,232 RSUs) in a one-time award with a one-year vesting period.

On July 2, 2018, Atento granted a new share-based payment arrangement to directors, officers and other employees, for the Company and its subsidiaries. The share-based payment had the following arrangements:

Time Restricted Stock Units (“RSUs”) (equity settled)

Grant date: July 2, 2018

Amount: 1,065,220 RSUs

Vesting period: 100% of the RSUs vests on January 4, 2021

There are no other vesting conditions

b) Measurement of fair value

The fair value of the RSUs, for all arrangements, has been measured using the Black­Scholes model. For all arrangements are equity settled and the fair value of RSUs is measured at grant date and not remeasured subsequently. The inputs used in the measurement of the fair values at the grant date are presented here below.

The 2014 Plan:

Time RSUPerformance RSU
Time RSUTime RSUAdj. EBITDATSR 1TSR 2Comments
Variable
Stock price (USD)11.0611.0611.0611.0611.06Stock price of Atento S.A. in USD at grant date December 3, 2014
Strike price (USD)0.010.010.0119.9727.74Value close to nil will be paid
Time (years)12333Time to vest as per the contract
Risk free rate18.00%0.57%1.04%1.04%1.04%USD risk free rate obtained from Bloomberg
Expected volatility4.11%4.11%4.11%4.11%4.11%Assumption is made to base volatility on the average volatility of main competitors because Atento S.A. itself is listed in October 2014
Dividend yield2.00%2.00%2.00%2.00%2.00%Assumption is made to set dividend yield at 2% because 1) there will be a limited ability to pay dividends in the near term and 2) it is in line with the dividend yield of the main competitors
Value RSU in USD10.8310.6210.4100

The Time RSU has been split into two options for valuation purposes to reflect correctly the fact that 50% of the Time RSUs vests on October 1, 2016 and the remaining 50% will vest on October 1, 2017.

The Performance RSU has one market condition which needs to be taken into account when determining the grant date fair value. Two scenarios have been used to determine this fair value. For scenario “TSR 1” a compound annual growth of 10% was used; and for scenario “TSR 2” a compound annual growth rate of 22%. Given the base line price of USD15.00 (which was the opening price when Atento went to the stock exchange), a current stock price of USD 11.06 and a low expected volatility, it is unlikely that the PRSUs of the TSR Tranche will vest. This results in a low valuation.

The Adjusted EBITDA Tranche is not included in the fair value condition as this tranche has a nonmarket performance condition.

The 2016 Plan:

Time RSUComments
Variable
Stock price (USD)9.07Stock price of Atento S.A. in USD at grant date July 1, 2016
Strike price (USD)0.01For valuation purposes set to 0.01
Time (years)2.5Time to vest as per the contract
Risk free rate0.86%USD risk free rate obtained from Bloomberg
Expected volatility24.40%Assumption is made to base volatility on the average volatility of main competitors because Atento S.A. itself is listed in October 2014
Dividend yield0.01%Assumption is made here that no dividends will be paid out as this is not in the line of expectations
Value RSU in USD9.06

The Time RSU reflects the fact that 100% of the Time RSUs will vest on January 4, 2019.

The 2016 Extraordinary Plan:

Time RSUTime RSUComments
Variable
Stock price (USD)9.079.07Stock price of Atento S.A. in USD at grant date July 1, 2016
Strike price (USD)0.010.01For valuation purposes set to 0.01
Time (years)0.251.5Time to vest as per the contract
Risk free rate18.00%85.00%USD risk free rate obtained from Bloomberg
Expected volatility36.29%36.87%Volatility based on shares prices from Atento S.A.
Dividend yield0.01%0.01%Assumption is made here that no dividends will be paid out as this is not in the line of expectations
Value RSU in USD9.069.06

The Time RSU has been split into two options for valuation purposes to reflect correctly the fact that 66.67% of the Time RSUs vests on October 1, 2016 and the remaining 33.33% were forfeited in the first quarter of 2017.

The 2017 Plan:

Time RSUComments
Variable
Stock price (USD)11Stock price of Atento S.A. in USD at grant date July 3, 2017
Strike price (USD)0.01For valuation purposes set to 0.01
Time (years)2.5Time to vest as per the contract
Risk free rate1.51%USD risk free rate obtained from Bloomberg
Expected volatility24.83%Assumption is made to base volatility on the average volatility of main competitors because Atento S.A. itself is listed in October 2014
Dividend yield0.01%Assumption is made here that no dividends will be paid out as this is not in the line of expectations
Value RSU in USD10.99

The Time RSU reflects the fact that 100% of the Time RSUs will vest on January 2, 2020.

The 2018 Plan:

Time RSUComments
Variable
Stock price (USD)7Stock price of Atento S.A. in USD at grant date July 2, 2018
Strike price (USD)0.01For valuation purposes set to 0.01
Time (years)2.5Time to vest as per the contract
Risk free rate2.60%USD risk free rate obtained from Bloomberg
Expected volatility23.05%Assumption is made to base volatility on the average volatility of main competitors because Atento S.A. itself is listed in October 2014
Dividend yield0.01%Assumption is made here that no dividends will be paid out as this is not in the line of expectations
Value RSU in USD6,989

c) Outstanding RSUs

As of December 31, 2018, there are 1,109,338 Time RSUs outstanding related to 2016 Grant, 815,693 Time RSUs outstanding related to 2017 Grant and 1,060,220 Time RSUs outstanding related to 2018 Grant. Holders of RSUs will receive the equivalent in shares of Atento S.A. without cash settlement of stock values when the RSUs vest.

For the Time RSU, the Management has made the following assumptions regarding the service conditions:

The 2016, 2017 and 2018 Grant:

• For the first, second and third year, it is expected that 80% of the holders of the Time RSUs will meet the service condition for three years.

The 2014 PlanTime RSUTime RSU
Outstanding December 31, 2015119,634871,649
Forfeited (*)(15,880)(871,649)
Vested (**)(103,754)-
(*) RSUs are forfeited during the year due to employees failing to satisfy the service or non-market performance conditions.
(**) As of October 1, 2016, a total of 103,754 Time RSUs of the Time Restricted Stock Unit Award Agreement became vested and were exercised.
The 2016 PlanTime RSU
Outstanding December 31, 20161,367,896
Forfeited (*)(219,271)
Outstanding December 31, 20171,148,625
Forfeited (*)(39,287)
Outstanding December 31, 20181,109,338
(*) RSUs are forfeited during the year due to employees failing to satisfy the service conditions.
The 2016 Extraordinary PlanTime RSU
Grantes July 1, 201682,157
Vested (*)(54,171)
Outstanding December 31, 201627,986
Forfeited (**)(27,986)
(*) As of October 1, 2016, a total of 54,171 Time RSUs of the Time Restricted Stock Unit Award Agreement became vested and were exercised.
(**) RSUs are forfeited in first quarter of 2017 due to employees failing to satisfy the service conditions.
The 2017 PlanTime RSU
Granted July 3, 2017886,187
Forfeited (*)(24,324)
Outstanding December 31, 2017861,863
Forfeited (*)(46,170)
Outstanding December 31, 2018815,693
(*) RSUs are forfeited during the year due to employees failing to satisfy the service conditions.
The 2018 PlanTime RSU
Outstanding December 31, 20181,060,220
(*) RSUs are forfeited during the year due to employees failing to satisfy the service conditions.

The 2014 PlanTime RSUPerformance RSU
CountryBalance as of December 31, 2015ForfeitedVestedBalance December 31, 2016Balance as of December 31, 2015ForfeitedBalance December 31, 2016
Argentina6,095(1,099)(4,996)-18,229(18,229)-
Brazil49,564(13,510)(36,054)-306,743(306,743)-
Chile4,925(1)(4,924)-48,345(48,345)-
Spain15,18349(15,232)-94,371(94,371)-
France2,060(2,060)--3,845(3,845)-
Guatemala1,024(1)(1,023)-1,911(1,911)-
Mexico22,933(13,192)(9,741)-102,938(102,938)-
Morocco1,468-(1,468)-2,742(2,742)-
Peru2,6021,097(3,699)-8,096(8,096)-
United States13,78012,837(26,617)-284,429(284,429)-
Total 119,634(15,880)(103,754)-871,649(871,649)-
The 2016 PlanTime RSU
CountryBalance as of December 31, 2016ForfeitedBalance December 31, 2017ForfeitedBalance December 31, 2018
Argentina21,981(5,458)16,52314,59231,115
Brazil214,764(13,715)201,049(23,348)177,701
Chile67,395(5,870)61,525(3,392)58,133
Colombia10,940-10,940-10,940
Spain124,761(23,271)101,49054,063155,553
Guatemala-(798)798-798
Mexico143,052(35,557)107,495(70,732)36,763
Peru16,462(11,176)5,2863,3928,678
United States768,541(125,022)643,519(13,862)629,657
Total 1,367,896(219,271)1,148,625(39,287)1,109,338
The 2016 Extraordinary PlanTime RSU
CountryBalance as of December 31, 2016GrantedVestedForfeited
United States-82,157(54,171)(27,986)
Total -82,157(54,171)(27,986)
The 2017 Plan
Time RSU
CountryBalance as of December 31, 2017ForfeitedBalance December 31, 2018
Brazil117,667(46,170)71,497
Chile66,028-66,028
Spain69,398-69,398
United States608,770-608,770
Total 861,863(46,170)815,693
The 2018 Plan
Time RSU
CountryBalance December 31, 2018
Argentina27,244
Brazil282,743
Chile70,009
Colombia21,049
Spain105,168
Mexico60,736
Peru20,306
United States472,965
Total 1,060,220

d) Impacts in Profit or Loss

In 2018, 6,417 thousand U.S. dollars (4,923 thousand U.S. dollars as at December 31, 2017 and 1,535 thousand U.S. dollars as at December 31, 2016) related to stock-based compensation were recorded as employee benefit expenses.

v3.19.1
TAX MATTERS
12 Months Ended
Dec. 31, 2018
Major components of tax expense (income) [abstract]  
Disclosure of income tax [text block]

20) TAX MATTERS

a) Income tax

The reconciliation between the income tax expense that would result in applying the statutory tax rate and the income tax expense recorded is as follow:

Thousands of U.S. dollars
For the year ended December 31,
2016(*)20172018
Profit/(loss) before income tax 8,564(1,035)33,900
Income tax applying the statutory tax rate (2,484)310(12,899)
Permanent differences (13,655)(12,635)(5,052)
Adjustments due to international tax rates 11,526(445)540
Tax credits7911,1122,297
Branches income tax (1,385)(875)1,700
Total income tax expense(5,207)(12,533)(13,414)
(*) Exclude discontinued operations - Marocco.

Permanent differences in 2018 are mainly related to non-deductible expenses in Brazil, Spain and Mexico.

The breakdown of the Atento Group’s income tax expense is as follow:

Thousands of U.S. dollars
For the year ended December 31,
2016(*)20172018
Current tax expense (22,852)(20,175)(24,426)
Deferred tax 17,6457,64211,012
Total income tax expense(5,207)(12,533)(13,414)
Exclude discontinued operations Marocco(*)

b) Deferred tax assets and liabilities

Details of deferred tax assets and liabilities at December 31, 2017 and 2018 are as follow:

Thousands of U.S. dollars
20172018
Deferred tax assets
Tax loss carryforwards29,66323,414
Tax credits 5,3813,935
Deferred tax assets from temporary differences
Litigations provisions 27,28623,709
Financial costs47,97341,504
Fixed Assets6,2296,312
Others14,71026,288
Total deferred tax assets131,243125,163
Deferred tax liabilities
Intangible assets - PPA(29,663)(26,376)
Others(14,188)(3,845)
Total deferred tax liabilities(43,851)(30,221)
The deferred tax not recognized as of December 31, 2018 is 39,869 thousand of U.S dollars.

The temporary differences associated with investments in the Atento’s subsidiaries, for which a deferred tax liability has not been recognized, aggregate to 3,917 thousands of U.S. dollar. Atento has determined that the undistributed profits of its subsidiaries, joint venture or associate will not be distributed in the foreseeable future.

The breakdown and balances of deferred tax assets and deferred tax liabilities at December 31, 2017 and 2018 are as follow:

Thousands of U.S. dollars
Balance at 12/31/2016Income StatementEquity Acquisition of Business CombinationsOthers (**)Translation differences Balance at 12/31/2017
Increases Decreases Increases Decreases
DEFERRED TAX ASSETS 118,34237,723(35,215)--2,366(570)8,680131,326
Unused tax losses (*) 16,95417,671(7,560)--714(570)2,45429,663
Unused tax credits 3,6942,171(815)----3315,381
Deferred tax assets (temporary differences) 97,69417,881(26,840)--1,652-5,89596,282
DEFERRED TAX LIABILITIES (45,597)(1,888)7,022-403(2,688)-(1,194)(43,942)
Deferred tax liabilities (temporary differences) (45,597)(1,888)7,022-403(2,688)-(1,194)(43,942)
(*) Tax credits for loss carryforwards.
(**) Refer to the use of tax losses for the purpose discharge debts of Withholding Tax (Imposto de Renda Retido na Fonte - “IRRF”), Social Integration Program (Programa de Integração Social - “PIS”), Social Security Contribution (Contribuição para Financiamento da Seguridade Social - “COFINS”), and Social Contribution Tax on Profits (Contribuição Social sobre o Lucro Líquido - “CSLL”), according to the Special Tax Regularization Program (Programa Especial de Regularização Tributária - “PERT”). This compensation was made with liability balances and therefore did not affect the income tax expense for the period.

Thousands of U.S. dollars
Balance at 12/31/2017Income StatementEquity Acquisition of Business CombinationsOthers (**)Translation differences Balance at 12/31/2018
Increases Decreases Increases Decreases
DEFERRED TAX ASSETS 131,32619,324(14,537)----(10,950)125,163
Unused tax losses (*) 29,6632,246(1,557)----(6,938)23,414
Unused tax credits 5,381310(72)----(1,684)3,935
Deferred tax assets (temporary differences) 96,28216,768(12,908)----(2,327)97,815
DEFERRED TAX LIABILITIES (43,942)(569)6,794----7,496(30,221)
Deferred tax liabilities (temporary differences) (43,942)(569)6,794----7,496(30,221)
(*) Tax credits for loss carryforwards.
(**) Refer to the use of tax losses for the purpose discharge debts of Withholding Tax (Imposto de Renda Retido na Fonte - “IRRF”), Social Integration Program (Programa de Integração Social - “PIS”), Social Security Contribution (Contribuição para Financiamento da Seguridade Social - “COFINS”), and Social Contribution Tax on Profits (Contribuição Social sobre o Lucro Líquido - “CSLL”), according to the Special Tax Regularization Program (Programa Especial de Regularização Tributária - “PERT”). This compensation was made with liability balances and therefore did not affect the income tax expense for the period.

As a result of the business combination of Nova Interfile Holding Ltda described in Note 5b, the Company recognized deferred tax assets amounting to 2,366 thousand U.S. dollars and deferred tax liabilities of 2,688 thousand U.S. dollars due to the difference between the tax value of the customer base and the fair value allocated in the business combination.

There is not estimation of distribute future dividends until this report date. Dividends distribution must be subject to Board approval, and will depend on the Company’s future earnings, cash flow, financial condition, financial covenants and other relevant factors. There are no income tax consequences attached to the payment of dividends in either 2018 or 2017 by the Company to its shareholders.

The following table presents the schedule for the reversal of recognized and unrecognized deferred tax assets and liabilities in the statement of financial position based on the best estimates available at the respective estimation dates:

Thousands of U.S. dollars
2017201820192020202120222023Subsequent yearsTotal
Tax losses 2,4314,8495,3681,8007492,71311,75329,663
Deductible temporary differences 12,57814,01814,40115,06515,0668,07517,07996,282
Tax credits for deductions 1,2661,2661,2661,266317--5,381
Total deferred tax assets 16,27520,13321,03518,13116,13310,78828,831131,326
Total deferred tax liabilities 4,4364,4364,4364,4364,4364,43617,32643,942
Thousands of U.S. dollars
2018201920202021202220232024Subsequent yearsTotal
Tax losses 12,8049,3651,245----23,414
Deductible temporary differences 14,39015,80118,15224,73624,736--97,815
Tax credits for deductions 1,2208425814012761914263,935
Total deferred tax assets 28,41426,00819,97825,13725,012191426125,164
Total deferred tax liabilities (236)2,6844,6966,0827,0387,6972,26030,221

c) Taxes receivables/payables

Details of taxes receivables and payables at December 31, 2017 and 2018 are as follow:

Thousands of U.S. dollars
As of December 31,
Receivables20172018
Non-current
Indirect taxes 7,2826,061
Current
Indirect taxes 4,76411,956
Other taxes 7,3088,019
12,07219,975
Income tax 21,96926,421
Total 41,32352,457
Thousands of U.S. dollars
As of December 31,
Payables20172018
Non-current
Social security 1,0253,145
Current
Indirect taxes 28,02428,188
Other taxes 58,14250,323
86,16678,511
Income tax 8,05810,615
Total 95,24992,271
v3.19.1
PROVISIONS AND CONTINGENCIES
12 Months Ended
Dec. 31, 2018
Disclosure of contingent liabilities [abstract]  
Disclosure of contingent liabilities [text block]

21) PROVISIONS AND CONTINGENCIES

Movements in provisions in 2017 and 2018 are as follow:

Thousands of U.S. dollars
12/31/2016AdditionsAdditions from business combination (Note 5)PaymentsReversalTransfersTranslation differences12/31/2017
Non-current
Provisions for liabilities 30,39418,4744,134(6,520)(10,687)(73)(4,912)30,810
Provisions for taxes 21,4471,2862,274-(6,607)2,108(675)19,833
Provisions for dismantling 15,3381,416-(48)(7,382)-(75)9,249
Other provisions 2,716944-(2,382)(2,733)(2,035)4,7841,294
Total non-current 69,89522,1206,408(8,950)(27,409)-(878)61,186
Current
Provisions for liabilities 8,1608,197-(2,479)(104)-(3,231)10,543
Provisions for taxes 1,0064,580----555,641
Provisions for dismantling 2131-6(219)-(1)-
Other provisions 5,339988-(5,181)(15)-1,7542,884
Total current 14,71813,766-(7,654)(338)-(1,423)19,068

Thousands of U.S. dollars
12/31/2017AdditionsAdditions from business combination (Note 5)PaymentsReversalTransfersTranslation differences12/31/2018
Non-current
Provisions for liabilities 30,81022,074-(7,665)(16,135)(81)(4,466)24,537
Provisions for taxes 19,8336,185-(243)(6,354)82(2,632)16,871
Provisions for dismantling 9,249994-(1)(174)(383)(1,255)8,430
Other provisions 1,294371-(151)(1,044)(1)8671,336
Total non-current 61,18629,624-(8,060)(23,707)(383)(7,486)51,174
Current
Provisions for liabilities 10,5434,015-(2,139)(479)-(2,920)9,020
Provisions for taxes 5,641---(2,959)-(227)2,455
Provisions for dismantling -19--(312)383(30)60
Other provisions 2,8846,925-(65)(2,002)-(185)7,515
Total current 19,06810,959-(2,204)(5,752)383(3,362)19,050

“Provisions for liabilities” primarily relate to provisions for legal claims underway in Brazil. Atento Brasil S.A. has made payments in escrow related to legal claims from ex-employees, amounting to 42,217 thousand U.S. dollars and 45,684 thousand U.S. dollars as of December 31, 2017 and 2018, respectively.

“Provisions for taxes” mainly relate to probable contingencies in Brazil with respect to social security payments and other taxes, which are subject to interpretations by tax authorities. Atento Brasil S.A. has made payments in escrow related to taxes claims 4,407 thousand U.S. dollars and 3,320 thousand U.S. dollars as of December 31, 2017 and 2018, respectively.

The amount recognized under “Provision for dismantling” corresponds to the necessary cost of dismantling of the installations held under operating leases to bring them to its original condition.

As of December 31, 2018, lawsuits still before the courts as follow:

Brazil

At December 31, 2018, Atento Brasil was involved in approximately 11,486 labor-related disputes (14,750 labor disputes as of December 31, 2017), filed by Atento’s employees or ex-employees for various reasons, such as dismissals or claims over employment conditions in general. The total amount of the main claims classified as possible was 46,797 thousand U.S. dollars (162,701 thousand U.S. dollars on December 31, 2017).

In addition, at December 31, 2018, there are labor-related disputes belonging to the company Atento Brasil 1 (formely Casa Bahia Contact Center Ltda – “CBCC”) totaling 337 thousand U.S. dollars. According to the Company’s external attorneys, materialization of the risk event is probable.

Moreover, as of December 31, 2018, Atento Brasil was party to 15 civil public actions filed by the Labor Prosecutor’s Office due to alleged irregularities mainly concerning daily and general working routine, lack of overtime control and improper health and safety conditions in the workplace. The total amount involved in these claims was approximately 21,469 thousand Brazilian Reais (5,541 thousand U.S. dollars), of which 775 thousand US Dollars relate to claims that have been classified as probable by our internal and external lawyers, for which amount Atento Brasil has recorded a provision, as indicated in the paragraph above. We expect that our ultimate liability for these claims, if any, will be substantially less than the full amount claimed. These claims are generally brought with respect to specific jurisdictions in Brazil, and it is possible that in the future similar claims could be brought against us in additional jurisdictions. We cannot assure that these current claims or future claims brought against us will not result in liability to the Company, and that such liability would not have a material adverse effect on our business, financial condition and results of operations.

As of December 31, 2018, Atento Brasil S.A. has 7 civil lawsuits ongoing for various reasons (8 on December 31, 2017) which, according to the Company’s external attorneys, materialization of the risk event is possible. The total amount of the claims is approximately 5,558 thousand U.S. dollars (5,953 thousand U.S. dollars on December 31, 2017).

In addition, at December 31, 2018, Atento Brasil S.A. has 30 disputes ongoing with the tax authorities and social security authorities, for various reasons relating to infraction proceedings filed (46 on December 31, 2017). The total amount of these claims is approximately 39,498 thousand U.S. dollars (59,445 thousand U.S. dollars on December 31, 2017). According to the Company’s external attorneys, risk of material loss is possible.

In addition, as of December 31, 2018, there are tax authorities disputes belonging to the company CBCC totaling 1,470 thousand U.S. dollars. According to the Company’s external attorneys, materialization of the risk event is probable.

Furthermore, it is important to highlight out that the Superior Labor Court of Appeals (Tribunal Superior do Trabalho) during the month of August 2015 decided to amend the indexation rate related to labor contingencies. The decision alters the Reference Rate Index (TR) usually used to adjust the amount of the contingencies to the Special Broad Consumer Price Index (Índice de Preços ao Consumidor Amplo Especial – IPCA-E). There are several questions about this matter, especially the period to which change should be applied as well as if the new index is appropriate. In addition, during October 2015, the Supreme Court (STF) issued a “writ of Mandamus” to the Federation of Brazilian Banks (FEBRABAN) suspending the application of the new index (IPCA-E). On September 31, 2017, a new decision of the Superior Labor Court of Appeals on the application of the index IPCA-E was amended, changing the initial date of the application of the index from June 30, 2009 to March 25, 2015. As early as December 2017 came the judgment of the Brazilian Bank Federation (FEBRABAN), declaring unfounded the suit proposed by FEBRABAN. With this unfounded, the effects of the injunction that had been granted by the STF were ceased. However, considering that this recent Supreme Court decision was rendered after the entry into force of Law 13,467 / 17 (Labor Reform), the conclusion that can be sustain it is that its effects would be limited to 25 March 2015 to 10 November 2017 because the new law gave a new text to the Article 879 of the Consolidated Labor Laws (CLT), to expressly determine that it will be apply the TR to upgrading of workers' claims arising from criminal conviction.

Thus, the Company considered the new modulation projection of the IPCA-E in labor, and this, the external opinion of our lawyers also considering as “possible” the probability of loss in an eventual dispute. The amount involved in the period from March 25, 2015 to November 10, 2017 is approximately 1,184 thousand U.S. dollars.

Additionally in March 2018, Atento Brasil S.A. received a tax notice from the Brazilian Federal Revenue Service, related to Corporate Income Tax (IRPJ) and Social Contribution on Net Income (CSLL) for the period from 2012 to 2015, due to the disallowance of the expenses on tax amortization of goodwill and deductibility of certain financing costs originated of the acquisition of Atento Brasil S.A. by the Bain Capital in 2012, and the withholding taxes on payments made to certain of our former shareholders. The amount of the tax assessment from the Brazilian Federal Revenue Service, not including interest and penalties, was approximately 105.3 million of US dollars and was assessed by the Company’s outside legal counsel as possible loss. We disagree with the proposed tax assessment and we intend to defend our position, which we believe is meritorious, through applicable administrative and, if necessary, judicial remedies. Based on our interpretation of the relevant law, and based on the advice of our legal and tax advisors, we believe the position we have taken is sustainable. Consequently, no provisions were recognized regarding these proceedings

On December 31, 2018, the subsidiary RBrasil Soluções S.A. holds contingent liabilities of labor nature classified as possible in the approximate amount of 45 thousand U.S. dollars.

On December 31, 2018, the subsidiary Interfile holds contingent liabilities of labor nature and social charges classified as possible in the approximate amount of 450 thousand U.S. dollars.

Additionally, there are other contingencies which are classified as possible by the Company amounting to 4,993 thousand U.S. dollars.

Spain

At December 31, 2018, Atento Teleservicios España S.A.U. including its branches and our other Spanish companies were party to labor-related disputes filed by Atento employees or former employees for different reasons, such as dismissals and disagreements regarding employment conditions. According to the Company’s external lawyers, materialization of the risk event is possible for 665 thousand U.S. dollars.

Mexico

At December 31, 2018, Atento Mexico through its two entities (Atento Servicios, S.A. de C.V. and Atento Atencion y Servicios, S.A. de C.V.) is a party of labor related disputes filed by Atento employees that abandoned their employment or former employees that base their claim on justified termination reasons, totaling 10,144 thousand U.S. dollars (Atento Servicios, S.A. de C.V. 6,629 thousand U.S. dollars and Atento Atencion y Servicios, S.A. de C.V. 3,515 thousand U.S. dollars), according to the external labor law firm for possible risk labor disputes.

Argentina

In Argentina, as a consequence of an unfavourable sentence on the case “ATUSA S.A.” issued by Argentinian Internal Revenue Services (“Administración Federal de Ingresos Públicos”), notified on February 2017, the risk qualified so far as “remote” becomes now “possible” being this contingency estimated amount of approximately 1,326 thousand U.S. dollars at December 31, 2018 (2,454 thousand U.S. dollars on December 31, 2017). A formal appeal has been filed at the National Supreme Court of Justice.

v3.19.1
REVENUE AND EXPENSES
12 Months Ended
Dec. 31, 2018
Analysis of income and expense [abstract]  
Revenue and expenses [text block]

22) REVENUE AND EXPENSES

a) Revenue

The breakdown of revenue for the years ended December 31, 2016, 2017 and 2018 is as follow:

Thousands of U.S. dollars
2016(*)20172018
Revenue
Services rendered 1,757,4981,921,3111,818,180
Total 1,757,4981,921,3111,818,180
(*) Exclude discontinued operations - Morocco.

b) Other operating income

Details of other operating income for the years ended December 31, 2016, 2017 and 2018 are as follow:

Thousands of U.S. dollars
2016(*)20172018
Other operating income
Other operating income (a)3,9915,75515,686
Grants 6738601,000
Income from indemnities and other non-recurring income 87293942
Gain on disposal of data center002,265
Gains on disposal of non-current assets 3448,883384
Total 5,88016,43719,377
(*) Exclude discontinued operations - Morocco.

c) Supplies

Details of amounts recognized under “Supplies” during the years ended December 31, 2016, 2017 and 2018 are as follow:

Thousands of U.S. dollars
2016 (*)20172018
Supplies
Subcontracted services 29,94026,88510,630
Infrastructure leases (Note 25b)3,37611,88913,856
Purchases of materials 9866282,919
Communications 24,92925,00319,460
Expenses with labor unions1,2041,1561,051
Other 5,1639,33822,900
Total 65,59874,89970,816
(*) Exclude discontinued operations - Morocco.

d) Employee benefit expenses

Details of amounts recognized under “Employee benefit expenses” during the years ended December 31, 2016, 2017 and 2018 are as follow:

Thousands of U.S. dollars
2016(*)20172018
Employee benefit expenses
Salaries and wages 1,014,8301,076,8101,024,094
Social security120,923131,524130,161
Supplementary pension contributions 2,8482,8612,840
Termination benefits 34,65433,74426,510
Other welfare costs 136,646184,137181,576
Total 1,309,9011,429,0761,365,181
(*) Exclude discontinued operations - Morocco.

e) Depreciation and amortization

The depreciation and amortization expenses for the years ended December 31, 2016, 2017 and 2018 are as follow:

Thousands of U.S. dollars
2016 (*)20172018
Depreciation and amortization
Intangible assets (Note 6) 50,91655,19558,679
Property, plant and equipment (Note 9) 46,44849,22636,566
Total 97,364104,42195,245
(*) Exclude discontinued operations - Morocco.

f) Other operating expenses

The breakdown of “Other operating expenses” for the years ended December 31, 2016, 2017 and 2018 is as follow:

Thousands of U.S. dollars
2016 (*)20172018
Other operating expenses
Services provided by third parties193,213202,146202,543
Losses on disposal of fixed assets 1,43212,989817
Taxes other than income tax 7,49113,58010,038
Other management expenses (*) 11,8797,9332,560
Total 214,015236,648215,958
(*) Exclude discontinued operations - Morocco.

Details of “Services provided by third parties” under “Other operating expenses” are as follow:

Thousands of U.S. dollars
2016 (*)20172018
Services provided by third parties
Leases (Note 25b) 63,01466,92367,902
Installation and maintenance 24,23722,79924,290
Lawyers and law firms 5,1986,8877,743
Tax advisory services 302467179
Consultants 8,0568,5788,372
Audits and other related services 2,4932,6771,576
Studies and work performed 76765
Other external professional services 40,66945,95543,404
Publicity, advertising and public relations 6,0895,4585,332
Insurance premiums 207636548
Travel expenses 6,0476,2886,979
Utilities 28,74327,39227,142
Banking and similar services 1,0061,3911,771
Other 7,0766,6887,240
TOTAL 193,213202,146202,543
(*) Exclude discontinued operations - Morocco.

The amounts recognized under “Consultants” and “Other external professional services” for the years ended December 31, 2016, 2017 and 2018 mainly refers to consulting and other costs in connection with efficiencies and costs reduction projects implemented in Brazil and EMEA.

g) Net finance expense

The breakdown of “Finance income” and “Finance costs” for the years ended December 31, 2016, 2017 and 2018 are as follow:

Thousands of U.S. dollars
2016 (*)20172018
Finance income
Interest from third parties and hyperinflationary adjustment in Argentina (a)7,1887,85818,843
Total finance income 7,1887,85818,843
Finance costs
Interest accrued to third parties (b)(75,090)(71,404)(43,351)
Discounts to the present value of provisions and other liabilities(**) 15,939(6,741)(2,261)
Total finance costs(59,151)(78,145)(45,612)
(*) Exclude discontinued operations - Morocco.
(**) The year ended December 31, 2016 contains the impacts of the CVI termination. The interest reversal of 19,936 thousand U.S. dollars was recognized in "Finance costs".

The breakdown of “Change in fair value of financial instruments” andNet foreign exchange gain/(loss)” is shown in the table below:

Thousands of U.S. dollars2016
GainsLossesNet
Fair value of financial instruments 675-675
Fair value of financial instruments 675-675
Foreign exchange gains/(losses)
Loans and receivables 868(12,200)(11,332)
Other financial transactions12,381(45,784)(33,403)
Current transactions 18,996(30,755)(11,759)
Total 32,245(88,739)(56,494)
(*) Exclude discontinued operations - Morocco.
Thousands of U.S. dollars2017
GainsLossesNet
Fair value of financial instruments 230230
Fair value of financial instruments 230-230
Foreign exchange gains/(losses)
Loans and receivables 38,220(57,187)(18,967)
Other financial transactions16,407(14,405)2,002
Current transactions 8,969(15,431)(6,462)
Total 63,596(87,023)(23,427)
Thousands of U.S. dollars2018
GainsLossesNet
Fair value of financial instruments 179-179
Fair value of financial instruments 179-179
Foreign exchange gains/(losses)
Loans and receivables 2,928(433)2,495
Other financial transactions19,253(29,786)(10,533)
Current transactions 43,845(64,822)(20,977)
Total 66,026(95,041)(29,015)
v3.19.1
SEGMENT INFORMATION
12 Months Ended
Dec. 31, 2018
Disclosure of operating segments [abstract]  
Disclosure of operating segments [text block]

23) SEGMENT INFORMATION

The CEO is the Chief Operating Decision Maker (“CODM”). Management has determined the operating segments on the basis of the information reviewed by the CEO for the purposes of allocating resources and assessing performance. The results measurement used by the CEO to assess the performance of the Atento Group’s segments is the EBITDA and Adjusted EBITDA (as defined below).

The CEO considers the business from the geographical perspective in the following areas:

EMEA, which combines the activities carried out regionally in Spain and Morocco (which was discontinued in 2016).

 

The Americas, which includes the activities carried out by the various Spanish-speaking companies in Mexico, Central and South America. It also includes transactions in the United States.

Brazil, which is managed separately in view of its different language and major importance.

Inter-segment transactions are carried out at market prices.

The Atento Group uses EBITDA and Adjusted EBITDA to track the performance of its segments and to establish operating and strategic targets. Management believes that EBITDA and Adjusted EBITDA provides an important measure of the segment’s operating performance because it allows management to evaluate and compare the segments’ operating results, including their return on capital and operating efficiencies, from period to period by removing the impact of their capital structure (interest expenses), asset bases (depreciation and amortization), and tax consequences. EBITDA is defined as profit/(loss) for the period from continuing operations before net finance expense (which includes finance income, finance costs, change in fair value of financial instruments and net foreign exchange losses), income taxes and depreciation and amortization. Adjusted EBITDA is defined as EBITDA adjusted to exclude acquisition and integration related costs, restructuring costs, site relocation costs, financing fees, asset impairments and other items which are not related to our core operating results.

EBITDA and Adjusted EBITDA are a commonly reported measure and are widely used among analysts, investors and other interested parties in the Atento Group’s industry, although not a measure explicitly defined in IFRS, and therefore, may not be comparable to similar indicators used by other companies. EBITDA and Adjusted EBITDA should not be considered as an alternative to the profit for the year as a measurement of our consolidated earnings or as an alternative to consolidated cash flow from operating activities as a measurement of our liquidity.

For the year ended December 31, 2016
Thousands of U.S. dollars
EMEA (*)AmericasBrazilOther and eliminationsTotal Group
Sales to other companies72,750394,961542,95311,010,665
Sales to Telefónica Group 151,176322,237273,420 - 746,833
Sales to other group companies41,718 - (1,722) -
Other operating income and expense(220,645)(596,963)(717,683)(8,497)(1,543,788)
EBITDA 3,285121,95398,690(10,218)213,710
Depreciation and amortization(10,712)(33,757)(52,356)(539)(97,364)
Operating profit/(loss)(7,427)88,19646,334(10,757)116,346
Net finance expense(12,319)(31,092)(40,074)(24,297)(107,782)
Income tax4,933(15,823)(3,070)8,753(5,207)
Profit/(loss) from continuing operations(14,813)41,2813,190(26,301)3,357
Profit/(loss) from discontinued operations(3,206) - - -(3,206)
Profit/(loss) for the year(18,019)41,2813,190(26,301)151
EBITDA3,285121,95398,690(10,218)213,710
Restructuring costs10,39010,56210,9941,70033,646
Site relocation costs181689,137-9,323
Asset impairments and Other2,709(40,668)2,1311,011(34,817)
Adjusted EBITDA (unaudited)16,40292,015-120,952-(7,507)-221,862
Capital expenditure2,12423,04223,000 - 48,166
Intangible, Goodwill and PP&E48,342189,036298,9201,540537,838
Allocated assets396,298558,657677,794(255,131)1,377,618
Allocated liabilities272,082259,352490,172(74,191)947,415
(*) Exclude discontinued operations - Morocco.

For the year ended December 31, 2017
Thousands of U.S. dollars
EMEAAmericasBrazilOther and eliminationsTotal Group
Sales to other companies80,020435,195652,696 -1,167,911
Sales to Telefónica Group 143,424317,849292,110(1)753,382
Sales to other group companies14,997 -(4,980)18
Other operating income and expense(215,860)(688,949)(832,377)12,745(1,724,441)
EBITDA 7,58569,092112,4297,764196,870
Depreciation and amortization(9,340)(37,640)(56,908)(533)(104,421)
Operating profit/(loss)(1,755)31,45255,5217,23192,449
Net finance expense(16,834)(13,206)(33,038)(30,406)(93,484)
Income tax5,031(9,667)(8,822)925(12,533)
Profit/(loss) for the year(13,558)8,57913,661(22,250)(13,568)
EBITDA7,58569,092112,4297,764196,870
Restructuring costs3,8318,4734,01146416,779
Other1154,2081192,8757,317
Shared services expenses3,2591,7348,155(13,148) -
Adjusted EBITDA (unaudited)14,79083,507124,714(2,045)220,966
Capital expenditure3,94824,50338,82525967,535
Intangible, Goodwill and PP&E49,101178,485306,6721,185535,443
Allocated assets401,332603,770677,149(351,946)1,330,305
Allocated liabilities126,575280,575499,67045,646952,466

For the year ended December 31, 2018
Thousands of U.S. dollars
EMEAAmericasBrazilOther and eliminationsTotal Group
Sales to other companies93,173388,889609,307(1)1,091,368
Sales to Telefónica Group 147,686293,945266,596-708,227
Sales to other group companies-25,9101,756(9,082)18,584
Other operating income and expense(228,591)(652,531)(794,148)41,843(1,633,427)
EBITDA 12,26856,21383,51132,760184,752
Depreciation and amortization(9,733)(34,683)(50,376)(453)(95,245)
Operating profit/(loss)2,53521,53033,13532,30789,507
Net finance expense(1,620)(5,536)(30,309)(18,140)(55,605)
Income tax(893)(2,054)(1,422)(9,046)(13,415)
Profit/(loss) for the year2213,9401,4045,12120,487
EBITDA12,26856,21383,51132,760184,752
Adjusted EBITDA (unaudited)12,26856,21383,51132,760184,752
Capital expenditure6,19241,46642,226189,885
Intangible, Goodwill and PP&E42,766195,369251,520476490,131
Allocated assets394,325557,695595,807(334,475)1,213,352
Allocated liabilities122,784254,150437,20059,126873,260

"Other and eliminations" includes activities of the intermediate holdings in Spain (Atento Spain Holdco, S.L.U.), Luxembourg holdings, as well as inter-group transactions between segments.

The breakdown of sales to customers by the main countries where the Atento Group operates is as follow:

For the year ended December 31,
201620172018
Country
Spain 223,956223,445240,859
Other and eliminations (*)(25)(1)-
EMEA 223,931223,444240,859
Argentina 119,589142,473134,557
Chile 80,10697,196112,679
Colombia 61,04275,37371,219
El Salvador 16,74112,52714,260
United States 36,96848,34150,001
Guatemala 15,77116,73216,195
Mexico 199,634178,537177,595
Peru 151,755151,681136,266
Puerto Rico 14,62910,1569,439
Uruguay 3,4753,1842,866
Panama 4,9904,4664,095
Other and eliminations (*)14,21717,375(20,428)
Americas 718,917758,041708,744
Brazil 816,373944,806877,661
Other and eliminations (*)(1,723)(4,980)(9,084)
Total revenue1,757,4981,921,3111,818,180

The Atento Group signed a framework contract with Telefónica that expires on December 31, 2021. In 2018, 39.0% of service revenue were generated from business with Telefónica Group companies (39.2% in 2017 and 42.5% in 2016).

v3.19.1
EARNINGS/(LOSS) PER SHARE
12 Months Ended
Dec. 31, 2018
Earnings per share [abstract]  
Disclosure of earnings per share [text block]

24) EARNINGS/(LOSS) PER SHARE

Basic earnings/(loss) per share is calculated by dividing the profits/(losses) attributable to equity owners of the Company by the weighted average number of ordinary shares outstanding during the periods as demonstrated below:

Thousands of U.S. dollars
2016 (*)20172018
Result attributable to equity owners of the Company
Atento's profit/(loss) attributable to equity owners of the parent from continuing operations (in thousands of U.S. dollars)3,357(13,568)20,486
Atento’s loss attributable to equity owners of the parent from discontinued operations (in thousands of U.S. dollars)(3,206)--
Weigthed average number of ordinary shares73,816,93373,909,05673,841,447
Basic earnings/(loss) per share from continuing operations (in U.S. dollars)0.05(0.18)0.28
Basic loss per share from discontinued operations (in U.S. dollars)(0.04)--

Diluted results per share are calculated by adjusting the weighted average number of ordinary shares outstanding to reflect the conversion of all dilutive ordinary shares. The weighted average number of ordinary shares outstanding used to calculate both basic and diluted earnings per share attributable to common stockholders is the same.

Thousands of U.S. dollars
2016 (*)20172018
Result attributable to equity owners of the Company
Atento’s profit/(loss) attributable to equity owners of the parent from continuing operations (in thousands of U.S. dollars) (1)3,357(13,568)20,486
Atento’s loss attributable to equity owners of the parent from discontinued operations (in thousands of U.S. dollars) (1)(3,206)--
Potential increase in number of ordinary shares outstanding in respect of share-based plan272,791-936,616
Adjusted weighted average number of ordinary shares74,089,72473,909,05674,778,063
Diluted earnings/(loss) per share from continuing operations (in U.S. dollars)0.05(0.18)0.28
Diluted loss per share from discontinued operations (in U.S. dollars)(0.04)--

(*) Exclude discontinued operations – Morocco.

(1) As of December 31, 2017, potential ordinary shares of 1,090,060, relating to the stock option plan were excluded from the calculation of diluted loss per share as the loss in 2017 is anti-dilutive.

v3.19.1
COMMITMENTS
12 Months Ended
Dec. 31, 2018
Disclosure of commitments [abstract]  
Disclosure of commitments [text block]

25) COMMITMENTS

a) Guarantees

As of December 31, 2017 and 2018, the Atento Group has guarantees to third parties of 322,233 thousand U.S. dollars, and 383,286 thousand U.S. dollars, respectively.

The transactions guaranteed and their respective amounts at December 31, 2017 and 2018 are as follow:

Thousands of U.S. dollars
20172018
Guarantees
Financial, labor-related, tax and rental transactions 156,579125,422
Contractual obligations 165,624257,844
Other 3020
Total 322,233383,286

The Company’s directors do not believe that any contingencies will arise from these guarantees other than those already recognized.

The breakdown shown in the table above relates to guarantees extended by Atento Group companies, classified by purpose. Of these guarantees, the majority relate to commercial purposes and rental activities, the remaining guarantees relates to tax and labor proceedings.

b) Operating leases

The breakdown of total minimum future lease payments under non-cancellable operating leases is as follow:

Thousands of U.S. dollars
20172018
Up to 1 year 63,17841,217
Between 1 and 5 years 124,91381,735
More than 5 years 52,02130,376
Total 240,112153,328

Total operating lease expenses recognized in the consolidated statements of operations for the year ended December 31, 2018 amount to 13,856 thousand U.S. dollars (11,889 thousand U.S. dollars in 2017 and 3,376 thousand U.S. dollars in 2016) under “Infrastructure leases” (see Note 22c) and 67,902 thousand U.S. dollars (66,923 thousand U.S. dollars in 2017 and 63,014 thousand U.S. dollars in 2016) under “Services provided by third parties” (see Note 22f).

No contingent payments on operating leases were recognized in the consolidated statements of operations for the years ended December 31, 2016, 2017 and 2018.

The operating leases where the Company acts as lessee are mainly on premises intended for use as call centers. These leases have various termination dates, with the latest in 2028.

At December 31, 2018, the payment commitment for the early cancellation of these leases is 114,215 thousand U.S. dollars (137,684 thousand U.S. dollars in 2017 and 122,480 thousand U.S. dollars in 2016).

v3.19.1
RELATED PARTIES
12 Months Ended
Dec. 31, 2018
Disclosure of transactions between related parties [abstract]  
Disclosure of related party [text block]

26) RELATED PARTIES

The following table shows the breakdown of the total remuneration paid to the Atento Group’s key management personnel in 2016, 2017 and 2018:

Thousands of U.S. dollars
201620172018
Salaries and variable remuneration 3,8264,37410,703
Salaries 3,8263,3039,524
Variable remuneration 01,0711,179
Payment in kind 9808581,116
Medical insurance 117138206
Life insurance premiums 272844
Other 836692866
Total 4,8065,23211,819
v3.19.1
SUBSEQUENT EVENT
12 Months Ended
Dec. 31, 2018
Disclosure of non-adjusting events after reporting period [abstract]  
Disclosure of events after reporting period [text block]

27. SUBSEQUENT EVENT

On January 18, 2019, the Board approved a share capital increase and issued 335,431 shares, increasing the number of outstanding shares to 75,406,357.

On January 04, 2019, the Company vested the total of 1,161,870 TRSUs.

v3.19.1
ACCOUNTING POLICIES (Policies)
12 Months Ended
Dec. 31, 2018
Disclosure Of Significant Accounting Policies Abstract  
Description of accounting policy for principles of consolidation explanatory [text block]

a) Principles of consolidation, business combinations and goodwill

(i) Subsidiaries

Subsidiaries are all entities (including structured entities) over which the Atento Group has control. The Atento Group controls an entity when the Atento Group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power to direct the activities of the entity. Subsidiaries are fully consolidated from the date on which control is obtained by the Group, until the Group loses control of the entity.

Intercompany transactions, balances and unrealized gains on transactions between the Atento Group companies are eliminated on consolidation, except those arisen from exchange variations. Unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the transferred asset. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the Atento Group.

Non-controlling interests in the results and equity of subsidiaries are shown separately in the consolidated statements of operations, statement of comprehensive income/(loss), statement of changes in equity and financial position, respectively.

Description of accounting policy for business combinations and goodwill [text block]

(ii) Business combinations and goodwill

When the Atento Group acquires a business, it assesses the financial assets and liabilities assumed for appropriate classification and designation in accordance with the contractual terms, economic circumstances and pertinent conditions as at the acquisition date. This includes the separation of embedded derivatives in host contracts by the acquire.

Any contingent consideration to be transferred by the acquirer will be recognized at fair value at the acquisition date. Contingent consideration classified as equity is not remeasured and its subsequent settlement is accounted for within equity. Contingent consideration classified as an asset or liability that is a financial instrument and within the scope of IFRS 9 Financial Instruments, is measured at fair value with the changes in fair value recognized in the statement of profit or loss in accordance with IFRS 9. Other contingent consideration that is not within the scope of IFRS 9 is measured at fair value at each reporting date with changes in fair value recognized in profit or loss.

Goodwill is initially measured as any excess of the total consideration transferred over the net identifiable assets acquired and liabilities assumed. If the fair value of the net assets acquired is greater than the total consideration transferred, the difference is recognized in the statements of operations as a gain from a bargain purchase. Goodwill acquired in a business combination is allocated to each cash¬-generating unit, or group of cash-¬generating units, that are expected to benefit from the synergies arising in the business combination. Goodwill is tested for impairment annually or whrenever if there are certain events or changes in circumstances indicating potential impairment. The carrying amount of the assets allocated to each cash-generating unit is then compared with its recoverable amount, which is the greater of its value in use or fair value less costs to sell. Any impairment loss is immediately taken to the statements of operations and may not be reversed (see Note 3h).

Description of accounting policy for functional currency [text block]

b) Functional and presentation currency

Items included in the financial statements of each of the Atento Group’s entities are measured using the currency of the primary economic environment in which the entities operate (‘the functional currency’). The consolidated financial statements are presented in thousands of U.S. dollars, which is the presentation currency of the Atento Group.

Description of accounting policy for foreign currency translation [text block]

c) Foreign currency translation

The results and financial position of all Atento Group entities whose functional currency is different from the presentation currency are translated into the presentation currency as follow:

Statements of financial position assets and liabilities are translated at the exchange rate prevailing at the reporting date.

Statements of operations items are translated at average exchange rates for the year (unless this average is not a reasonable approximation of the cumulative effect of the rates prevailing on the transaction dates, in which case income and expenses are translated at the rate on the dates of the transactions), except for the Statements of operations of the Argentina subsidiary, which are converted by the exchange rates prevailing at the reporting date, since in that country the economy is considered hyperinflationary and therefore, for the purposes of conversion, the rules of IAS 21 are applied.

Proceeds and payments shown on the statements of cash flows are translated at the average exchange rates for the period (unless this average is not a reasonable approximation of the cumulative effect of the rates prevailing on the transaction dates, in which case proceeds and payments are translated at the rate on the dates of the transactions). Proceeds and payments for subsidiary located in Argentina shown on the statements of cash flows are translated at the exchange rates prevailing at the reporting date.

Retained earnings are translated at historical exchange rates.

All resulting exchange differences are recognized in other comprehensive income/(loss).

Goodwill and fair value adjustments to net assets arising from the acquisition of a foreign company are considered to be assets and liabilities of the foreign company and are translated at year­end exchange rates. Exchange differences arising are recognized in other comprehensive income/(loss).

d) Foreign currency transactions

Transactions in foreign currency are translated into the functional currency using the exchange rates prevailing at the date of the transactions or valuation date, in the case of items being remeasured. Foreign exchange gains and losses resulting from the settlement of these transactions and from the translation at reporting date exchange rates of monetary assets and liabilities denominated in foreign currencies are recognized in the statements of operations, except when deferred in other comprehensive income/(loss).

All differences arising on non–trading activities are taken to other operating income/expense in the statements of operations, with the exception of the effective portion of the differences on cash flows and net investment hedges that are accounted for as an effective hedge against a net investment in a foreign entity. These differences are recognised in other comprehensive income/(loss) (OCI) until the hedge settlement and disposal of the net investment, at which time, they are recognised in the statements of operations. Tax charges and credits attributable to exchange differences on those monetary items are also recorded in OCI.

Non–monetary items that are measured at historical cost in a foreign currency are translated using the exchange rates as at the date of recognition.

Description of accounting policy for segment reporting [text block]

e) Segment information

Segment information is presented in accordance with management information reviewed by the Chief Operating Decision Maker (“CODM”). The CODM, responsible for allocating resources and assessing performance of operational segments, has been identified as the Chief Executive Officer (“CEO”) responsible for strategic decisions.

The CODM considers the business from a geographical perspective and analyzes it across three operational segments—EMEA, Americas and Brazil.

Description of accounting policy for intangible assets other than goodwill [text block]

f) Intangible assets

Intangible assets are stated at acquisition cost, less any accumulated amortization and any accumulated impairment losses.

The intangible assets acquired in a business combination are initially measured at their fair value as of the acquisition date.

The useful lives of intangible assets are assessed on a case­by­case basis to be either finite or indefinite. Intangible assets with finite lives are amortized on a straight line basis over their estimated useful life and assessed for impairment whenever events or changes indicate that their carrying amount may not be recoverable. Intangible assets that have an indefinite useful life are not subject to amortization and are tested annually for impairment. The amortization charge on intangible assets is recognized in the consolidated statements of operations under “Amortization”.

Amortization methods and useful lives are revised annually at the end of each reporting period and, where appropriate, adjusted prospectively.

Customer bases

Customer bases acquired in a business combination are recognised at fair value at the acquisition date and have finite useful lives and are subsequently carried at cost less accumulated amortization, which has been estimated to be between seven and twelve years. The customer bases relate to all agreements, tacit or explicit, entered into between the Atento Group and the former owner of the Atento Group and between the Atento Group and other customers, in relation to the provision of services, and that were acquired as part of the business combinations.

Software

Software is measured at cost (at acquisition or development costs) and amortized on a straight line basis over its useful life, generally estimated to be between three and ten years. Maintenance cost of software is expensed as incurred.

Development costs directly attributable to the design and creation of software that are identifiable and unique, and that may be controlled by the Group, are recognized as an intangible asset providing the following conditions are met:

It is technically feasible for the intangible asset to be completed so that it will be available for use or sale.

Management intends to complete the asset for use or sale.

The Group has the capacity to use or sell the asset.

It is possible to show evidence of how the intangible asset will generate probable future economic benefits.

Adequate technical, financial and other resources are available to complete the development and to use or sell the intangible asset.

The outlay attributable to the intangible asset during its development can be reliably determined.

Directly attributable costs capitalized in the value of the software include the cost of personnel developing the programs and an appropriate percentage of overheads.

Costs that do not meet the criteria listed above are recognized as an expense as incurred. Expenditure for an intangible asset that is initially recognized within expenses for the period may not be subsequently recognized as intangible assets.

Other intangible assets

Other intangible assets mainly include payment of loyalty incentives which are amortized on a straight line basis over the term of the agreements which range from four to ten years.

Description of accounting policy for property, plant and equipment [text block]

g) Property, plant and equipment

Property, plant and equipment are measured at cost, less accumulated depreciation and any impairment losses.

Acquisition costs include, when appropriate, the initial estimates of decommissioning, withdrawal and site reconditioning costs when the Atento Group is obliged to bear this expenditure as a condition of using the assets. Repairs that do not prolong the useful life of the assets and maintenance costs are recognized directly in the statements of operations. Costs that prolong or improve the life of the asset are capitalized as an increase in the cost of the asset.

Property, plant and equipment acquired in a business combination are initially measured at fair value as of the acquisition date.

The Atento Group assesses the need to write down, if appropriate, the carrying amount of each item of property, plant and equipment to its period-end recoverable amount whenever there are indications that the assets’ carrying amount may not be fully recoverable through the generation of sufficient future revenue. The impairment allowance is reversed if the factors giving rise to the impairment cease to exist.

The depreciation charge for items of property, plant and equipment is recognized in the consolidated statements of operations under “Depreciation”.

Depreciation is calculated on a straight line basis over the useful life of the asset applying individual rates to each type of asset, which are reviewed at the end of each reporting period.

The useful lives generally used by the Atento Group are as follow:

Years of useful life
Buildings5 - 40
Plant and machinery3 - 6
Furniture, tools1 - 10
Other tangible assets5 - 8
Description of accounting policy for impairment of assets [text block]

h) Impairment of non­current assets

The Atento Group assesses as of each reporting date whether there is an indicator that a non­current asset may be impaired. If any such indicator exists, or when annual impairment testing for an asset is required (e.g. goodwill), the Atento Group estimates the asset’s recoverable amount. An asset’s recoverable amount is the higher of its fair value less costs to sell or its value in use. In assessing the value in use, the estimated future cash flow is discounted to its present value using a pre­tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. Where the carrying amount of an asset exceeds its recoverable amount, the asset is considered to be impaired. In this case, the carrying amount is written down to its recoverable amount, and the resulting loss is recognized in the statements of operations. Future depreciation/amortization charges are adjusted to reflect the asset’s new carrying amount over its remaining useful life. Management analyzes the impairment of each asset individually, except in the case of assets that generate cash flow which are interdependent on those generated by other assets (cash generating units – “CGU”).

The Atento Group bases the calculation of impairment on the business plans of the various cash generating units to which the assets are allocated. These business plans cover five years. A long-term growth rate is calculated and applied to project future cash flows after the fifth year.

When there are new events or changes in circumstances that indicate that a previously recognized impairment loss no longer exists or has been decreased, a new estimate of the asset’s recoverable amount is made. A previously recognized impairment loss is reversed only if there has been a change in the estimates used to determine the asset’s recoverable amount since the last impairment loss was recognized. If that is the case, the carrying amount of the asset is increased to its recoverable amount. The reversal is limited to the carrying amount that would have been determined if no impairment loss been recognized for the asset in prior years. This reversal is recognized in the statements of operations and the depreciation charge is adjusted in future periods to reflect the asset’s revised carrying amount. Impairment losses relating to goodwill cannot be reversed in future periods.

Description of accounting policy for financial assets [text block]

i) Financial assets and liabilities

Financial assets

Initial recognition and measurement

Financial assets are classified, at initial recognition, as subsequently measured at amortised cost, fair value through other comprehensive income (OCI), and fair value through profit or loss.

The Atento Group has classified all of its financial assets as amortized cost, except for derivative financial instruments.

All purchases and sales of financial assets are recognized on the statement of financial position on the transaction date, i.e. when the commitment is made to purchase or sell the asset.

A financial asset is fully or partially derecognized from the statement of financial position only when:

  • The rights to receive cash flow from the asset have expired.
  • The Atento Group has assumed an obligation to pay the cash flow received from the asset to a third party or
  • The Atento Group has transferred its rights to receive cash flow from the asset to a third party, thereby substantially transferring all of the risks and rewards of the asset.

Financial assets and financial liabilities are offset and presented on a net basis in the statement of financial position when a legally enforceable right exists to offset the amounts recognized and the Atento Group intends to settle the assets and liabilities net or to simultaneously realize the asset and cancel the liability.

Amortized cost financial assets include fixed­maturity financial assets not listed in active markets and which are not derivatives. They are classified as current assets, except for those maturing more than twelve months after the reporting date, which are classified as non­current assets. Loans and receivables are initially recognized at fair value plus any transaction costs, and are subsequently measured at amortized cost, using the effective interest method. Interest calculated using the effective interest method is recognized under finance income in the statements of operations.

The Atento Group assesses at each reporting date whether a financial asset is impaired. Where there is objective evidence of impairment of a financial asset valued at amortized cost, the amount of the loss to be taken to the statements of operations is measured as the difference between the carrying amount and the present value of estimated future cash flow, discounted at the asset’s original effective interest rate. The carrying amount of the asset is reduced and the amount of the impairment loss is expensed in the consolidated statements of operations.

Trade receivables

Trade receivables are amounts due from customers for the sale of services in the normal course of business. Receivables slated for collection in twelve months or less are classified as current assets; otherwise, the balances are considered non­current assets.

Trade receivables are recognized at the original invoice amount. An impairment provision is recorded when there is objective evidence of collection risk. The amount of the impairment provision is calculated as the difference between the carrying amount of the doubtful trade receivables and their recoverable amount. In general, cash flow relating to short-term receivables is not discounted.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and in banks, demand deposits and other highly liquid investments with an original maturity of three months or less, which are subject to an insignificant risk of changes in value.

Financial liabilities

Debt with third parties (Loans and Borrowings)

Debt with third parties is initially recorded at the fair value of the consideration received, less any directly attributable transaction costs. After initial recognition, these financial liabilities are measured at amortized cost using the effective interest method. Any difference between the cash received (net of transaction costs) and the repayment value is recognized in the statements of operations over the life of the debt. Debt with third parties is considered to be non­current when the maturity date is longer than twelve months from the reporting date, or when the Atento Group has full discretion to defer settlement for at least another twelve months from that date.

Financial liabilities are derecognized in the statement of financial position when the respective obligation is settled, cancelled or matures.

Trade payables

Trade payables are payment obligations in respect of goods or services received from suppliers in the ordinary course of business. Trade payables falling due in twelve months or less are classified as current liabilities; otherwise, the balances are considered as non­current liabilities.

Description of accounting policy for trade and other receivables [text block]

Trade receivables

Trade receivables are amounts due from customers for the sale of services in the normal course of business. Receivables slated for collection in twelve months or less are classified as current assets; otherwise, the balances are considered non­current assets.

Trade receivables are recognized at the original invoice amount. An impairment provision is recorded when there is objective evidence of collection risk. The amount of the impairment provision is calculated as the difference between the carrying amount of the doubtful trade receivables and their recoverable amount. In general, cash flow relating to short-term receivables is not discounted.

Description of accounting policy for determining components of cash and cash equivalents [text block]

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and in banks, demand deposits and other highly liquid investments with an original maturity of three months or less, which are subject to an insignificant risk of changes in value.

Description of accounting policy for borrowing costs [text block]

Financial liabilities

Debt with third parties (Loans and Borrowings)

Debt with third parties is initially recorded at the fair value of the consideration received, less any directly attributable transaction costs. After initial recognition, these financial liabilities are measured at amortized cost using the effective interest method. Any difference between the cash received (net of transaction costs) and the repayment value is recognized in the statements of operations over the life of the debt. Debt with third parties is considered to be non­current when the maturity date is longer than twelve months from the reporting date, or when the Atento Group has full discretion to defer settlement for at least another twelve months from that date.

Financial liabilities are derecognized in the statement of financial position when the respective obligation is settled, cancelled or matures.

Description of accounting policy for trade and other payables [text block]

Trade payables

Trade payables are payment obligations in respect of goods or services received from suppliers in the ordinary course of business. Trade payables falling due in twelve months or less are classified as current liabilities; otherwise, the balances are considered as non­current liabilities.

Description of accounting policy for derivative financial instruments and hedging [text block]

j) Derivative financial instruments and hedging

Derivative financial instruments are initially recognized at their fair values on the date on which the derivative contract is entered into and are subsequently re-measured at their fair value.

Any gains or losses resulting from changes in the fair value of a derivative instrument are recorded in the statements of operations, except for the effective portion of cash flow and net investment hedges, which is recognized in other comprehensive income/(loss) and later reclassified to profit or loss when the hedge item affects the statements of operations.

At the inception of the derivative instrument contract, the Atento Group documents the relationship between the hedging instruments and the hedged items, as well as the risk management objectives and the strategy for groups of hedges. The Atento Group also documents its assessment, both at the inception of the hedge and throughout the term thereof, of whether the derivatives used are highly effective at offsetting changes in the fair value or cash flow of the hedged items.

The fair value of a hedging derivative is classified as a non-current asset or liability, as applicable, if the remaining maturity of the hedged item exceeds twelve months, otherwise it is classified as a current asset or liability.

For purpose of hedge accounting the Atento Group designates certain derivatives as either:

Cash flow hedges

Cash flow hedge is defined as a hedge of the exposure to variability in cash flows that is attributable to a particular risk associated with a recognized asset or liability (such as all or some future interest payments on variable rate debt) or a highly probable forecast transaction that could affect profit or loss.

The effective portion of the gain or loss on the hedging instrument is recognized in other comprehensive income in the cash flow hedge reserve in equity. If a hedge of a forecast transaction subsequently results in the recognition of a financial asset or a financial liability, any gain or loss on the hedging instrument that was previously recognized directly in equity is recycled from reserves into the statements of operations in the same period(s) in which the financial asset or liability affects profit or loss.

Net investment hedges

Gains or losses on the hedging instrument relating to the effective portion of the hedge are recognized in other comprehensive income. Gains or losses relating to the ineffective portion are recognized in the statements of operations. Gains and losses accumulated in equity are included in the statements of operations when the foreign operation is partially disposed of or sold.

Description of accounting policy for issued capital [text block]

k) Share capital

The ordinary shares of the Company are classified in equity (see Note 19).

Issuance costs directly attributable to the issuance of new shares or options are deducted from the proceeds raised in equity, net of the tax effect.

Description Of Accounting Policy For Treasury Shares Explanatory

l) Treasury shares

Own equity instruments that are reacquired (treasury shares) are recognized at cost and deducted from equity. No gain or loss is recognized in profit or loss on the purchase, sale, issue or cancellation of the Atento Group’s own equity instruments. Any difference between the carrying amount and the consideration, if reissued, is recognized in the share premium.

Description of accounting policy for provisions [text block]

m) Provisions

Provisions are recognized when the Atento Group has a present obligation (legal or constructive) as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation. Provisions for restructuring include penalties for the cancellation of leases and other contracts, as well as employee termination payments. Provisions are not recognized for future operating losses.

When the Atento Group is virtually certain that some or all of a provision is to be reimbursed, for example under an insurance contract, a separate asset is recognized in the statement of financial position, and the expense relating to the provision is recorded in the statements of operations, net of the expected reimbursement.

Provisions are measured at the present value of expenditure expected to be required to settle the obligation, using a pre­tax rate that reflects current market assessments of the time value of money and the specific risks inherent to the obligation. Any increase in the provision due to the passage of time is recognized as a finance cost.

Contingent liabilities represent possible obligations to third parties, and existing obligations that are not recognized, given that it is not likely that an outflow of economic resources will be required in order to settle the obligation or because the amount cannot be reliably estimated. Contingent liabilities are not recognized on the consolidated statement of financial position unless they are recorded as part of a business combination.

Description of accounting policy for share-based payment transactions [text block]

n) Employee benefit

Share­based payments

Atento S.A. has a share­based compensation plan, under which the subsidiaries of Atento S.A. receive services from employees as consideration for the equity instruments of Atento S.A. The subsidiaries themselves are not party to any of the contracts; Atento S.A. settles these agreements. The plan offers various instruments (award agreements, stock options, restricted stock units, etc.), but so far only six types of restricted stock units (“RSUs”) have been granted to selected employees, being two on December 3, 2014, two on July 1, 2016 one on July 3, 2017 and one on July 2, 2018.

The fair value of the employee services received in exchange for the grant of the RSUs is recognized as an expense in the consolidated financial statements of Atento S.A. The total amount to be expensed is determined with reference to the fair value of the RSUs granted:

Including any market performance conditions (for example, an entity’s share price);

Excluding the impact of any service and non­market performance vesting conditions (for example, profitability, sales growth targets and remaining an employee of the entity over a specified time period); and

Including the impact of any non­vesting conditions (for example, the requirement for employees to save or hold shares for a specific period of time).

At the end of each reporting period, the group revises its estimates of the number of RSUs that are expected to vest based on the non­market vesting conditions and service conditions. It recognizes the impact of the revisions to original estimates, if any, in the statements of operations, with a corresponding adjustment to equity.

When the RSUs vest, Atento S.A. issues new shares or buys them back in the market. The proceeds received, net of any directly attributable transaction costs, are credited to share capital (nominal value) and share premium.

The social security contributions payable in connection with the granting of the share options is considered an integral part of the grant itself, and the charge will be treated as a cash­settled transaction.

Description of accounting policy for termination benefits [text block]

Termination benefits

Termination benefits are paid to employees when the Atento Group decides to terminate their employment contracts prior to the usual retirement age or when the employee agrees to resign voluntarily in exchange for these benefits. The Atento Group recognizes these benefits as an expense for the year, at the earliest of the following dates: (a) when the Atento Group is no longer able to withdraw the offer for these benefits; or (b) when the Atento Group company recognizes the costs of a restructuring effort as per IAS 37, “Provisions, Contingent Liabilities and Contingent Assets”, and when this restructuring entails the payment of termination benefits. When benefits are offered in order to encourage the voluntary resignation of employees, termination benefits are measured on the basis of the number of employees expected to accept the offer. Benefits to be paid in more than twelve months from the reporting date are discounted to their present value.

Description of accounting policy for income tax [text block]

o) Income tax

The income tax expense includes all the expenses and credits arising from the corporate income tax levied on all the Atento Group companies.

Income tax expenses for each period represent the aggregate amounts of current and deferred taxes, if applicable.

Current tax assets and liabilities for the current and prior periods are measured at the amount expected to be recovered from or paid to the tax authorities. The tax rates and tax laws used to compute the amounts are those that are enacted at the reporting date in each country in which the Atento Group operates. The Atento Group determines deferred tax assets and liabilities by applying the tax rates that will be effective when the corresponding asset is received or the liability settled, based on tax rates and tax laws that are enacted (or substantively enacted) at the reporting date.

Deferred taxes are calculated on temporary differences arising from differences between the tax basis of assets and liabilities and their carrying amounts for financial reporting purposes.

Deferred tax assets also arise from unused tax credits and tax loss carryforwards.

The carrying amounts of deferred income tax assets are reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient future taxable profits will be available to allow all or part of that deferred tax asset to be utilized. Unrecognized deferred income tax assets are reassessed at each reporting date and are recognized to the extent that it has become probable that future taxable profits will allow the deferred tax asset to be recovered.

Deferred tax liabilities associated with investments in subsidiaries and branches are not recognized when the timing of the reversal can be controlled by the parent company, and it is probable that the temporary differences will not reverse in the foreseeable future.

Deferred income tax relating to items directly recognized in equity is also recognized in equity. Deferred tax assets and liabilities resulting from business combinations are added to or deducted from goodwill.

Deferred tax assets and liabilities are offset only if a legally enforceable right exists to offset current tax assets against current income tax liabilities and the deferred taxes relate to the same taxable entity and the same taxation authority.

Description of accounting policy for recognition of revenue [text block]

p) Revenue and Expenses

Revenue and Expenses are recognized in the statements of operations an accrual basis, regardless of when actual payment or collection occurs.

The Atento Group’s incorporation, start­up and research expenses, as well as expenses that do not qualify for capitalization under IFRS, are recognized in the consolidated statements of operations when incurred and classified in accordance with their nature.

Description of accounting policy for interest income and expense [text block]

q) Interest income and expenses

Interest expenses incurred in the construction of any qualified asset are capitalized during the time necessary to complete the asset and prepare it for the intended use. All other interest expenses are expensed as incurred.

Interest income is recognized using the effective interest method. When a loan or a receivable has been impaired, the carrying amount is reduced to the recoverable amount, discounting the estimated future cash flow at the instrument’s original effective interest rate and recognizing the discount as a decrease in interest income. Interest income on impaired loans is recognized when the cash is collected or on the basis of the recovery of the costs when the loan is secured.

Description of accounting policy for leases [text block]

r) Leases (as lessee)

The Atento Group rents certain properties. Leases where the lessor does not transfer substantially all of the risks and benefits of ownership of the asset are classified as operating leases. Operating lease payments are recognized as an expense in the statements of operations on a straight line basis over the lease term.

Those lease arrangements under which the Atento Group holds the significant risks and benefits inherent in owning the leased item are treated as finance leases. Finance leases are capitalized as an asset at the inception of the lease period and classified according to their nature. Finance leases are capitalized at the lower of the present value of the minimum lease payments agreed, and the fair value of the leased asset. Lease payments are proportionally allocated to the principal of the lease liability and to finance charges. Finance charges are reflected in the statements of operations over the lease term so as to achieve a constant rate of interest on the balance pending repayment in each period.

Description of accounting policy for explanation of sources of estimation uncertainty with significant risk of causing material adjustment

s) Critical accounting estimates and assumptions

The preparation of consolidated financial statements under IFRS as issued by the IASB requires the use of certain assumptions and estimates that affect the carrying amount of assets and liabilities within the next financial year.

Some of the accounting policies applied in preparing the accompanying consolidated financial statements required Management to apply significant judgments in order to select the most appropriate assumptions for determining these estimates. These assumptions and estimates are based on Management experience, the advice of consultants and experts, forecasts and other circumstances and expectations prevailing at year end. Management’s evaluation takes into account the global economic situation in the sector in which the Atento Group operates, as well as the future outlook for the business. By virtue of their nature, these judgments are inherently subject to uncertainty. Consequently, actual results could differ substantially from the estimates and assumptions used. Should this occur, the values of the related assets and liabilities would be adjusted accordingly.

Although these estimates were made on the basis of the best information available at each reporting date on the events analyzed, events that take place in the future might make it necessary to change these estimates in coming years. Changes in accounting estimates would be applied prospectively in accordance with the requirements of IAS 8, “Accounting Policies, Changes in Accounting Estimates and Errors”, recognizing the effects of the changes in estimates in the related consolidated statements of operations.

An explanation of the estimates and judgments that entail a significant risk of leading to a material adjustment in the carrying amounts of assets and liabilities is as follow:

Impairment of goodwill

The Atento Group tests goodwill for impairment annually, in accordance with the accounting principle described in Note 3h. Goodwill is subject to impairment testing as part of the cash­generating unit to which it has been allocated. The recoverable amounts of cash­generating units defined in order to identify potential impairment in goodwill are determined on the basis of value in use, applying five­year financial forecasts based on the Atento Group’s strategic plans, approved and reviewed by Management. These calculations entail the use of assumptions and estimates, and require a significant degree of judgment. The main variables considered in the sensitivity analyses are growth rates, discount rates using the Weighted Average Cost of Capital (“WACC”) and the key business variables.

Deferred taxes

The Atento Group assesses the recoverability of deferred tax assets based on estimates of future earnings. The ability to recover these deferred amounts depends ultimately on the Atento Group’s ability to generate taxable earnings over the period in which the deferred tax assets remain deductible. This analysis is based on the estimated timing of the reversal of deferred tax liabilities, as well as estimates of taxable earnings, which are sourced from internal projections.

The appropriate classification of tax assets and liabilities depends on a series of factors, including estimates as to the timing and realization of deferred tax assets and the projected tax payment schedule. Actual income tax receipts and payments could differ from the estimates made by the Atento Group as a result of changes in tax legislation or unforeseen transactions that could affect the tax balances (see Note 20).

The Atento Group has recognized deferred tax assets corresponding to losses carried forward since, based on internal projections, it is probable that it will generate future taxable profits against which they may be utilized.

The carrying amount of deferred income tax assets is reviewed at each reporting date, and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of that deferred tax asset to be utilized. Unrecognized deferred income tax assets are reassessed at each reporting date and are recognized to the extent that it has become probable that future taxable profits will allow the deferred tax asset to be recovered.

Provisions and contingencies

Provisions are recognized when the Atento Group has a present obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. This obligation may be legal or constructive, deriving from, inter alia, regulations, contracts, customary practice or public commitments that would lead third parties to reasonably expect that the Atento Group will assume certain responsibilities. The amount of the provision is determined based on the best estimate of the outflow of resources embodying economic benefit that will be required to settle the obligation, taking into account all available information as of the reporting date, including the opinions of independent experts such as legal counsel or consultants.

No provision is recognized if the amount of liability cannot be estimated reliably. In such cases, the relevant information is disclosed in the notes to the consolidated financial statements.

Given the uncertainties inherent in the estimates used to determine the amount of provisions, actual outflows of resources may differ from the amounts recognized originally on the basis of these estimates (see Note 21).

Fair value of derivatives

The Atento Group uses derivative financial instruments to mitigate risks, primarily derived from possible fluctuations in exchange rates. Derivatives are recognized at the inception of the contract at fair value.

The fair values of derivative financial instruments are calculated on the basis of observable market data available, either in terms of market prices or through the application of valuation techniques. The valuation techniques used to calculate the fair value of derivative financial instruments include the discounting of future cash flow associated with the instruments, applying assumptions based on market conditions at the valuation date or using prices established for similar instruments, among others. These estimates are based on available market information and appropriate valuation techniques. The fair values calculated could differ significantly if other market assumptions and/or estimation techniques were applied.

Description of accounting policy for subsidiaries [text block]

t) Interest in subsidiaries

All subsidiaries are fully consolidated. Where necessary, the accounting policies of subsidiaries have been aligned to those adopted in the Atento Group.

The details of Atento Group subsidiaries at December 31, 2018 are as follow:

 NameRegistered addressLine of business% interestHolding company
Atento Luxco Midco, S.à.r.l.LuxembourgHolding company100Atento S.A.
Atento Luxco 1 S.A.LuxembourgHolding company100Atento Luxco Midco, S.à.r.l
Atalaya Luxco 2. S.à.r.l.LuxembourgHolding company100Atento Luxco 1. S.A.
Atalaya Luxco 3. S.à.r.l.LuxembourgHolding company100Atento Luxco 1. S.A.
Atento Argentina. S.A Buenos Aires (Argentina)Operation of call centers90Atalaya Luxco 2. S.à.r.l.
10Atalaya Luxco 3. S.à.r.l.
Global Rossolimo. S.L.UMadrid (Spain)Holding company100Atento Spain Holdco. S.L.U.
Atento Spain Holdco. S.L.UMadrid (Spain)Holding company100Atento Luxco 1. S.A.
Atento Spain Holdco 6. S.L.UMadrid (Spain)Holding company100Atento Spain Holdco. S.L.U.
Atento Spain Holdco 2. S.A.U Madrid (Spain)Holding company100Atento Spain Holdco 6. S.L.U.
Atento Teleservicios España. S.A.UMadrid (Spain)Operation of call centers100Atento Spain Holdco 2. S.A.U.
Atento Servicios Técnicos y Consultoría S.A.UMadrid (Spain)Execution of technological projects and services, and consultancy services100Atento Teleservicios España S.A.U.
Atento Impulsa. S.A.UBarcelona (Spain)Management of specialized employment centers for disabled workers100Atento Teleservicios España S.A.U.
Atento Servicios Auxiliares de Contact Center. S.A.UMadrid (Spain)Execution of technological projects and services, and consultancy services100Atento Teleservicios España. S.A.U.
Atento B VAmsterdam (Netherlands)Holding company100Atento Spain Holdco 2. S.A.U.
Teleatento del Perú. S.A.CLima (Peru)Operation of call centers83.3333Atento B.V.
(Class A)
16.6667Atento Holding Chile. S.A.
(Class B)
Woknal. S.A.Montevideo (Uruguay)Operation of call centers100Atento B.V.
Atento Colombia. S.A.Bogotá DC (Colombia)Operation of call centers94.97871Atento B.V.
0.00424Atento Servicios Auxiliares de Contact Center. S.L.U.
0.00854Atento Servicios Técnicos y Consultoría. S.L.U.
5.00427Atento Teleservicios España. S.A.U.
0.00424Teleatento del Perú SAC.
Atento Holding Chile. S.A.Santiago de Chile (Chile)Holding company99.9999Atento B.V.
0.0001Atento Spain Holdco 2
Atento Chile. S.A.Santiago de Chile (Chile)Operation of call centers99.99Atento Holding Chile. S.A.
0.01Atento B.V.
Atento Educación LimitadaSantiago de Chile (Chile)Operation of call centers99Atento Chile. S.A.
1Atento Holding Chile. S.A.
Atento Centro de Formación Técnica LimitadaSantiago de Chile (Chile)Operation of call centers99Atento Chile. S.A.
1Atento Holding Chile. S.A.
Atento Spain Holdco 4. S.A.UMadrid (Spain)Holding company100Atento Spain Holdco. S.L.U.
Atento Brasil. S.ASão Paulo (Brazil)Operation of call centers99.999Atento Spain Holdco 4. S.A.U.
0.001Atento Spain Holdco. S.L.U.
R Brasil Soluções S.A.São Paulo (Brazil)Operation of call centers81.4885Atento Brasil. S.A.
Atento Spain Holdco 5. S.L.UMadrid (Spain)Holding company100Atento Spain Holdco. S.L.U.
Atento Mexico Holdco S. de R.L. de C.V.MexicoHolding company99.966Atento Spain Holdco 5. S.L.U.
0.004Atento Spain Holdco. S.L.U.
Atento Puerto Rico. Inc.Guaynabo (Puerto Rico)Operation of call centers100Atento Mexico Holdco S. de R.L. de C.V.
Contact US Teleservices Inc.Houston, Texas (USA)Operation of call centers100Atento Mexico Holdco S. de R.L. de C.V.
Atento Panamá. S.A.Panama CityOperation of call centers100Atento Mexico Holdco S. de R.L. de C.V.
Atento Atención y Servicios. S.A. de C.V.Mexico City (Mexico)Administrative, professional and consultancy services99.998Atento Mexico Holdco S. de R.L. de C.V.
0.002Atento Servicios. S.A. de C.V.
Atento Servicios. S.A. de C.V.Mexico City (Mexico)Sale of goods and services99.998Atento Mexico Holdco S. de R.L. de C.V.
0.002Atento Atención y Servicios. S.A. de C.V.
Atento Centroamérica. S.A.Guatemala (Guatemala)Holding company99.9999Atento Mexico Holdco S. de R.L. de C.V.
0.0001Atento El Salvador S.A. de C.V.
Atento de Guatemala. S.A.Guatemala (Guatemala)Operation of call centers99.99999Atento Centroamérica. S.A.
0.00001Atento El Salvador S.A. de C.V.
Atento El Salvador. S.A. de C.V.City of San Salvador (El Salvador)Operation of call centers7.4054Atento Centroamerica. S.A.
92.5946Atento de Guatemala. S.A.
Atento Nicaragua S.A. NicaraguaOperation of call centers4.35Atento Centroamerica. S.A.
95.65Atento Mexico Holdco S. de R.L. de C.V.
Atento Costa Rica S.A.Costa RicaOperation of call centers99.999Atento Mexico Holdco S. de R.L. de C.V.
0.0001Atento Centroamerica. S.A.
Interservicer - Serviços de BPO LtdaSão Paulo (Brasil)Operation of call centers50.00002Nova Interfile e Holding Ltda.
Interfile Serviços de BPO Ltda.São Paulo (Brasil)Operation of call centers50.00002Nova Interfile e Holding Ltda.
Nova Interfile Holding Ltda.São Paulo (Brasil)Holding company100Atento Brasil. S.A.

At December 31, 2016, 2017 and 2018, none of the Group’s subsidiaries is listed on a stock exchange, except for Atento Luxco 1 S.A., which has debt securities listed in the International Stock Exchange (TISE) in Guernsey. All subsidiaries use year-end December 31 as their reporting date.

Description of accountng policy for disclosure of expected impact of initial application of new standards or interpretations [text block]

u) New and amended standards adopted by the Group

The Atento Group applied IFRS 15 and IFRS 9 for the first time in 2018. The nature and effect of the changes as a result of adoption of these new accounting standards are described below. The adoption of these amendments did not have any material impact on the current period or any prior period.

Several other amendments and interpretations apply for the first time in 2018, but did not have an impact on the consolidated financial statements of the Atento Group. The Atento Group has not early adopted any standards, interpretations or amendments that have been issued but are not yet effective.

IFRS 15 Revenue from Contracts with Customers

IFRS 15 supersedes IAS 11 Construction Contracts, IAS 18 Revenue and related Interpretations and it applies, with limited exceptions, to all revenue arising from contracts with its customers. IFRS 15 establishes a five-step model to account for revenue arising from contracts with customers and requires that revenue be recognised at an amount that reflects the consideration to which an entity expects to be entitled in exchange for transferring goods or services to a customer.

IFRS 15 requires entities to exercise judgement, taking into consideration all of the relevant facts and circumstances when applying each step of the model to contracts with their customers. The standard also specifies the accounting for the incremental costs of obtaining a contract and the costs directly related to fulfilling a contract. In addition, the standard requires extensive disclosures.

The Atento Group adopted IFRS 15 using the modified retrospective approach for initial adoption. The Company and its subsidiaries did not have any initial impact through the adoption of IFRS 15.

IFRS 9 Financial Instruments

IFRS 9 Financial Instruments replaces IAS 39 Financial Instruments: Recognition and Measurement for annual periods beginning on or after 1 January 2018, bringing together all three aspects of the accounting for financial instruments: classification and measurement; impairment; and hedge accounting.

The Atento Group has applied IFRS 9 prospectively, with the initial application date of January 1, 2018.

Financial assets

The Company’s loans and receivables as per IAS 39 that are held to collect contractual cash flows that solely represent payments and interest satisfy the conditions for classification as at amortized cost for IFRS 9 and hence there will be no change to the accounting for these assets.

The Company also had no changes for derivatives, that as per IAS 39 are classified at fair value through profit or loss (unless they are designated as hedges) and would appear to be classified as FVPL (Fair Value Through Profit or Loss) as per IFRS 9.

Accordingly, the Atento Group did not have any impact on the classification and measurement of its financial assets.

Financial liabilities

There is no impact on the Atento Group’s accounting for financial liabilities, as the new requirements only affect the accounting for financial liabilities that are designated at fair value through profit or loss and the Atento Group does not have such liabilities other than option for the acquisition of non-controlling interest and derivatives, that as per IAS 39 are classified at fair value through profit or loss (unless they are designated as hedges) and will be classified as FVPL (fair value through profit or loss) as per IFRS 9. The derecognition rules have been transferred from IAS 39 Financial Instruments: Recognition and Measurement and have not been changed.

The new hedge accounting rules will align the accounting for hedging instruments more closely with the Atento Group’s risk management practices. As a general rule, more hedge relationships might be eligible for hedge accounting, as the standard introduces a more principles-based approach. The Atento Group’s current hedge relationships will qualify as continuing hedges upon the adoption of IFRS 9. Accordingly, the Atento Group does not have impact on the accounting for its hedging relationships.

The new impairment model requires the recognition of impairment provisions based on expected credit losses (ECL) rather than only incurred credit losses as is the case under IAS 39. It applies to financial assets classified at amortized cost, debt instruments measured at FVOCI (fair value through other comprehensive income), contract assets under IFRS 15 Revenue from Contracts with Customers, loan commitments and certain financial guarantee contracts. Management did not have any significant increase in the credit losses.

v) Standards issued but not yet effective

The new and amended standards and interpretations that are issued, but not yet effective, up to the date of issuance of the Group’s financial statements are disclosed below. The Group intends to adopt these new and amended standards and interpretations, if applicable, when they become effective.

Title of standard

IFRS 16 Leases

Nature of change

IFRS 16 was issued in January 2016. It will result in almost all leases being recognised on the balance sheet, as the distinction between operating and finance leases is removed. Under the new standard, an asset (the right to use the leased item) and a financial liability to pay rentals are recognised. The only exceptions are short-term and low-value leases.

 

Impact

The standard will affect primarily the accounting for the group’s operating leases.

As at the reporting date, lease commitments that the group expects to recognize as right-of-use assets amount to approximately 184,099 thousand U.S. dollars on January 1, 2019, and lease liabilities in the same amount.

The consolidated statement of operations will be impacted by a decrease of-operating expenses and an increase of the amortization of the right-of-use assets and interest on the lease liability.

Atento activities as a lessor are not material and hence the group does not expect any significant impact on the financial statements including no impacts in the loan’s covenants.

Mandatory application date/ Date of adoption by group

Atento will apply the standard from its mandatory adoption date of 1 January 2019. The group intends to apply the simplified transition approach and will not restate comparative amounts for the year prior to first adoption. Right-of-use assets for property leases will be measured on transition as if the new rules had always been applied. All other right-of-use assets will be measured at the amount of the lease liability on adoption

Title of standard

IFRIC Interpretation 23 Uncertainty over Income Tax Treatment

Key requirements

The Interpretation addresses the accounting for income taxes when tax treatments involve uncertainty that affects the application of IAS 12 and does not apply to taxes or levies outside the scope of IAS 12, nor does it specifically include requirements relating to interest and penalties associated with uncertain tax treatments.

The Interpretation specifically addresses the following:

Whether an entity considers uncertain tax treatments separately;

The assumptions an entity makes about the examination of tax treatments by taxation authorities;

How an entity determines taxable profit (tax loss), tax bases, unused tax losses, unused tax credits and tax rates;

How an entity considers changes in facts and circumstances.

Atento reviewed the tax treatment under the terms of IFRIC 23 in all subsidiaries and as at the reporting date, the group did not identify any material impact on the financial statements.

Atento implemented a process for periodically review the income tax treatments consistent under IFRIC 23 requirements across the group.

Mandatory application date/ Date of adoption by group

Atento will apply the standard from its mandatory adoption date of 1 January 2019.

v3.19.1
ACCOUNTING POLICIES (Tables)
12 Months Ended
Dec. 31, 2018
Disclosure Of Significant Accounting Policies Abstract  
Disclosure of composition of group [text block]
 NameRegistered addressLine of business% interestHolding company
Atento Luxco Midco, S.à.r.l.LuxembourgHolding company100Atento S.A.
Atento Luxco 1 S.A.LuxembourgHolding company100Atento Luxco Midco, S.à.r.l
Atalaya Luxco 2. S.à.r.l.LuxembourgHolding company100Atento Luxco 1. S.A.
Atalaya Luxco 3. S.à.r.l.LuxembourgHolding company100Atento Luxco 1. S.A.
Atento Argentina. S.A Buenos Aires (Argentina)Operation of call centers90Atalaya Luxco 2. S.à.r.l.
10Atalaya Luxco 3. S.à.r.l.
Global Rossolimo. S.L.UMadrid (Spain)Holding company100Atento Spain Holdco. S.L.U.
Atento Spain Holdco. S.L.UMadrid (Spain)Holding company100Atento Luxco 1. S.A.
Atento Spain Holdco 6. S.L.UMadrid (Spain)Holding company100Atento Spain Holdco. S.L.U.
Atento Spain Holdco 2. S.A.U Madrid (Spain)Holding company100Atento Spain Holdco 6. S.L.U.
Atento Teleservicios España. S.A.UMadrid (Spain)Operation of call centers100Atento Spain Holdco 2. S.A.U.
Atento Servicios Técnicos y Consultoría S.A.UMadrid (Spain)Execution of technological projects and services, and consultancy services100Atento Teleservicios España S.A.U.
Atento Impulsa. S.A.UBarcelona (Spain)Management of specialized employment centers for disabled workers100Atento Teleservicios España S.A.U.
Atento Servicios Auxiliares de Contact Center. S.A.UMadrid (Spain)Execution of technological projects and services, and consultancy services100Atento Teleservicios España. S.A.U.
Atento B VAmsterdam (Netherlands)Holding company100Atento Spain Holdco 2. S.A.U.
Teleatento del Perú. S.A.CLima (Peru)Operation of call centers83.3333Atento B.V.
(Class A)
16.6667Atento Holding Chile. S.A.
(Class B)
Woknal. S.A.Montevideo (Uruguay)Operation of call centers100Atento B.V.
Atento Colombia. S.A.Bogotá DC (Colombia)Operation of call centers94.97871Atento B.V.
0.00424Atento Servicios Auxiliares de Contact Center. S.L.U.
0.00854Atento Servicios Técnicos y Consultoría. S.L.U.
5.00427Atento Teleservicios España. S.A.U.
0.00424Teleatento del Perú SAC.
Atento Holding Chile. S.A.Santiago de Chile (Chile)Holding company99.9999Atento B.V.
0.0001Atento Spain Holdco 2
Atento Chile. S.A.Santiago de Chile (Chile)Operation of call centers99.99Atento Holding Chile. S.A.
0.01Atento B.V.
Atento Educación LimitadaSantiago de Chile (Chile)Operation of call centers99Atento Chile. S.A.
1Atento Holding Chile. S.A.
Atento Centro de Formación Técnica LimitadaSantiago de Chile (Chile)Operation of call centers99Atento Chile. S.A.
1Atento Holding Chile. S.A.
Atento Spain Holdco 4. S.A.UMadrid (Spain)Holding company100Atento Spain Holdco. S.L.U.
Atento Brasil. S.ASão Paulo (Brazil)Operation of call centers99.999Atento Spain Holdco 4. S.A.U.
0.001Atento Spain Holdco. S.L.U.
R Brasil Soluções S.A.São Paulo (Brazil)Operation of call centers81.4885Atento Brasil. S.A.
Atento Spain Holdco 5. S.L.UMadrid (Spain)Holding company100Atento Spain Holdco. S.L.U.
Atento Mexico Holdco S. de R.L. de C.V.MexicoHolding company99.966Atento Spain Holdco 5. S.L.U.
0.004Atento Spain Holdco. S.L.U.
Atento Puerto Rico. Inc.Guaynabo (Puerto Rico)Operation of call centers100Atento Mexico Holdco S. de R.L. de C.V.
Contact US Teleservices Inc.Houston, Texas (USA)Operation of call centers100Atento Mexico Holdco S. de R.L. de C.V.
Atento Panamá. S.A.Panama CityOperation of call centers100Atento Mexico Holdco S. de R.L. de C.V.
Atento Atención y Servicios. S.A. de C.V.Mexico City (Mexico)Administrative, professional and consultancy services99.998Atento Mexico Holdco S. de R.L. de C.V.
0.002Atento Servicios. S.A. de C.V.
Atento Servicios. S.A. de C.V.Mexico City (Mexico)Sale of goods and services99.998Atento Mexico Holdco S. de R.L. de C.V.
0.002Atento Atención y Servicios. S.A. de C.V.
Atento Centroamérica. S.A.Guatemala (Guatemala)Holding company99.9999Atento Mexico Holdco S. de R.L. de C.V.
0.0001Atento El Salvador S.A. de C.V.
Atento de Guatemala. S.A.Guatemala (Guatemala)Operation of call centers99.99999Atento Centroamérica. S.A.
0.00001Atento El Salvador S.A. de C.V.
Atento El Salvador. S.A. de C.V.City of San Salvador (El Salvador)Operation of call centers7.4054Atento Centroamerica. S.A.
92.5946Atento de Guatemala. S.A.
Atento Nicaragua S.A. NicaraguaOperation of call centers4.35Atento Centroamerica. S.A.
95.65Atento Mexico Holdco S. de R.L. de C.V.
Atento Costa Rica S.A.Costa RicaOperation of call centers99.999Atento Mexico Holdco S. de R.L. de C.V.
0.0001Atento Centroamerica. S.A.
Interservicer - Serviços de BPO LtdaSão Paulo (Brasil)Operation of call centers50.00002Nova Interfile e Holding Ltda.
Interfile Serviços de BPO Ltda.São Paulo (Brasil)Operation of call centers50.00002Nova Interfile e Holding Ltda.
Nova Interfile Holding Ltda.São Paulo (Brasil)Holding company100Atento Brasil. S.A.
v3.19.1
MANAGEMENT OF FINANCIAL RISK (Tables)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Disclosure of risk management strategy related to hedge accounting [line items]      
Disclosure of information about credit exposures designated as measured at fair value through profit or loss [text block]
2018Financial assets (*)Financial liabilities (*)Sensitivity analysis
Functional currency - financial asset/liability currencyFunctional currency (thousands) Asset currency (thousands) U.S. Dollar (thousands) Functional currency (thousands)Liability currency (thousands)U.S. Dollar (thousands)Appreciation of asset/liability currency vs functional currency Appreciation of financial assets in functional currency Statements of operations (thousands of U.S. dollar) Appreciation of financial liabilities in functional currency Statements of operations (thousands of U.S. dollar)
Euro - Colombian Pesos------10%3,349.0----
Euro - Dirham Moroccan 6687,031764---10%10.071352--
Euro - Peruvian Nuevos Soles------10%3.0----
Euro - USD 1,4171,6221,622---10%1.01,574180--
Chilean Pesos – USD36,7445353---10%0.040,8276--
Mexican Pesos – USD27,7191,4111,411---10%0.030,799157--
Brazilian Reais – USD1644---10%0.017---
Guatemalan Quetzal – USD2,094271271---10%0.02,32730--
Colombian Pesos – USD546,644168168---10%0.0607,38219--
Peruvian Nuevos Soles - USD 11,2213,3213,3213,5361,0461,04610%0.012,4683693,929(116)
United States Dolar - Euro151315---10%1.0172--
United States Dolar - MXN1261---10%18.01---
Chilean Pesos – Euro70-----10%0.081---
(*) Financial liabilities correspond to borrowing in currencies other than functional currencies. Financial assets correspond to cash and cash equivalents in currencies other than functional currencies.
2017Financial assets (*)Financial liabilities (*)Sensitivity analysis
Functional currency - financial asset/liability currencyFunctional currency (thousands) Asset currency (thousands) U.S. Dollar (thousands) Functional currency (thousands)Liability currency (thousands)U.S. Dollar (thousands)Appreciation of asset/liability currency vs functional currency Appreciation of financial assets in functional currency Statements of operations (thousands of U.S. dollar) Appreciation of financial liabilities in functional currency Statements of operations (thousands of U.S. dollar)
Euro - Colombian Pesos253904,880303---10%3,220.828134--
Euro - Dirham Moroccan 5275,915632---10%10.158670--
Euro - Peruvian Nuevos Soles3714444---10%3.5415--
Euro - USD 2,9993,5973,597---10%1.13,332400--
Chilean Pesos – USD7,9821313---10%0.08,8751--
Mexican Pesos – USD970-49---10%0.0-(49)--
Brazilian Reais – USD2788---10%0.3301--
Guatemalan Quetzal – USD821111---10%0.1911--
Colombian Pesos – USD610,695205205---10%0.0678,55023--
Peruvian Nuevos Soles - USD 26,3588,1238,1235,8221,7941,79410%0.329,2879036,469(199)
United States Dolar - Euro868---10%0.891--
United States Dolar - MXN1020210---10%17.7111--
Chilean Pesos – Euro132,016179215---10%0.0146,42320--
(*) Financial liabilities correspond to borrowing in currencies other than functional currencies. Financial assets correspond to cash and cash equivalents in currencies other than functional currencies.
2016Financial assets (*)Financial liabilities (*)Sensitivity analysis
Functional currency - financial asset/liability currencyFunctional currency (thousands) Asset currency (thousands) U.S. Dollar (thousands) Functional currency (thousands)Liability currency (thousands)U.S. Dollar (thousands)Appreciation of asset/liability currency vs functional currency Appreciation of financial assets in functional currency Statements of operations (thousands of U.S. dollar) Appreciation of financial liabilities in functional currency Statements of operations (thousands of U.S. dollar)
Euro - Colombian Pesos244817,344272---10%2,846.728745--
Euro - Dirham Moroccan 2522,848281---10%9.629747--
Euro - Peruvian Nuevos Soles6424172---10%3.27612--
Euro - USD 3,5153,7053,705---10%0.93,905412--
Chilean Pesos – USD212-----10%0.0235---
Mexican Pesos – USD6-----10%0.0----
Brazilian Reais – USD622---10%0.37---
Guatemalan Quetzal – USD2,442325325---10%0.12,71336--
Colombian Pesos – USD590,271197197---10%0.0655,85722--
Peruvian Nuevos Soles - USD 23,4846,9986,9985,1381,5311,53110%0.326,0947785,709(170)
United States Dolar - Euro11,06810,50011,068---10%0.912,2981,230--
United States Dolar - MXN791,62779---10%18.6889--
Chilean Pesos – Euro292-----10%0.0324---
(*) Financial liabilities correspond to borrowing in currencies other than functional currencies. Financial assets correspond to cash and cash equivalents in currencies other than functional currencies.
Disclosure of information about liquidity arrangements, guarantees or other commitments with third parties that may affect fair value or risk of interests in structured entities [text block]
Thousands of U.S. dollars
20172018
Guarantees
Financial, labor-related, tax and rental transactions 156,579125,422
Contractual obligations 165,624257,844
Other 3020
Total 322,233383,286
   
Currency risk [member]      
Disclosure of risk management strategy related to hedge accounting [line items]      
Sensitivity analysis for types of market risk [text block]
Thousands of U.S. dollars
CROSS-CURRENCY2018
FAIR VALUE10,630
0.10%(3,522)
-0.10%862

Thousands of U.S. dollars
CROSS-CURRENCY2018
FAIR VALUE10,630
0.10%(3,522)
-0.10%862
   
v3.19.1
BUSINESS COMBINATIONS (Tables)
12 Months Ended
Dec. 31, 2018
R Brasil Solucoes S.A. [member]  
Disclosure of detailed information about business combination [line items]  
Disclosure of detailed information about business combinations [text block]
Thousands of U.S. dollars
Assets
Cash and cash equivalents315
Accounts receivable2,273
Escrow account2,884
Deferred taxes assets2,079
Other credits679
Property, plant and equipment 491
Intangibles (b)2,628
Liabilities
Other obligations(2,932)
Provisions for legal proceedings and contingent liabilities(13,105)
Total net liabilities assumed at fair value(4,688)
Non-controlling interest measured at fair value928
Goodwill on acquisition15,214
Total of the consideration11,454
Purchase price consideration
Consideration paid8,953
Contingent consideration2,501
Total consideration11,454
Analysis of the cash flow of the acquisition
Consideration paid8,953
Net cash acquired(315)
Outflow cash, net (a)8,638
Nova Interfile Holding [Member]  
Disclosure of detailed information about business combination [line items]  
Disclosure of detailed information about business combinations [text block]
Thousands of U.S. dollars
Assets
Cash and cash equivalents1,572
Accounts receivable5,463
Deferred taxes assets2,366
Other credits2,486
Property, plant and equipment 2,628
Intangibles (b)16,456
Liabilities
Other obligations(6,203)
Contingent liabilities(1,527)
Provisions for legal proceedings(4,881)
Deferred taxes liabilities(2,688)
Net identifiable assets acquired15,672
Non-controlling interest measured at fair value(7,836)
Goodwill on acquisition8,400
Total of the consideration16,236
Analysis of the cash flow of the acquisition
Consideration paid16,236
Net cash acquired(1,572)
Consideration net of cash acquired (a)14,664
v3.19.1
INTANGIBLE ASSETS (Tables)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Disclosure of detailed information about intangible assets [abstract]    
Disclosure of detailed information about intangible assets [text block]
Thousands of U.S. dollars
Balance at December 31, 2017AdditionsAcquisitions from business combination (Note 5)DisposalsTransfersTranslation differencesHyperinflation AdjustmentsBalance at December 31, 2018
Cost
Development 4,6962,081-(777)-(1,341)4315,090
Customer base 291,898--(411)-(38,285)9,725262,927
Software 158,03553,035-(676)5,182(22,973)2,363194,966
Other intangible assets 65,2536,091-(1,007)(820)(733)27669,060
Work in progress 462927---(300) -1,089
Total cost 520,34462,134-(2,871)4,362(63,632)12,795533,132
Accumulated amortization
Development (691)(181)-14-727(516)(647)
Customer base (133,658)(23,423)-150-18,461(4,820)(143,290)
Software (93,905)(28,992)-48-10,269(1,265)(113,845)
Other intangible assets (37,517)(6,085)-1,153-2,998(708)(40,159)
Total accumulated amortization (265,771)(58,681)-1,365-32,455(7,309)(297,941)
Impairment(24,469)(626)---1,104-(23,991)
Net intangible assets 230,1042,827-(1,506)4,362(30,073)5,486211,202
Thousands of U.S. dollars
Balance at December 31, 2016AdditionsAcquisitions from business combination (Note 5)DisposalsTransfersTranslation differencesHyperinflation AdjustmentsBalance at December 31, 2017
Cost
Development 3,9071,513-(7)(627)(90)-4,696
Customer base 264,1572,55214,931(9)-10,267-291,898
Software 138,05012,4631,468(3,085)2,1157,024-158,035
Other intangible assets 44,83918,96057(533)1,155775-65,253
Work in progress 2,823--(259)(2,073)(29)-462
Total cost 453,77635,48816,456(3,893)57017,947-520,344
Accumulated amortization
Development (475)(235)-7(1)13-(691)
Customer base (105,296)(25,222)---(3,140)-(133,658)
Software (68,138)(24,669)-147(179)(1,066)-(93,905)
Other intangible assets (31,807)(5,069)-373(390)(624)-(37,517)
Total accumulated amortization (205,716)(55,195)-527(570)(4,817)-(265,771)
Impairment(21,507)----(2,962)-(24,469)
Net intangible assets 226,553(19,707)16,456(3,366)-10,168-230,104
v3.19.1
GOODWILL (Tables)
12 Months Ended
Dec. 31, 2018
Disclosure of reconciliation of changes in goodwill [abstract]  
Disclosure of reconciliation of changes in goodwill [text block]
Thousands of U.S. dollars
12/31/2016AcquisitionsHyperinflationTranslationdifferences12/31/2017AcquisitionsHyperinflationTranslationdifferences12/31/2018
Peru29,268.0--1,00130,269--(1,200)29,069
Chile17,314.0--1,46618,780--(2,172)16,608
Colombia6,249.0--356,284--(514)5,770
Mexico1,758.0--841,842--21,844
Brazil (*)72,4398,400-(1,049)79,790--(11,672)68,118
Argentina18,988--(2,809)16,179-25,577(8,176)33,580
Total146,0158,400-(1,272)153,144-25,577(23,732)154,989
(*) As of December 31, 2018 the total amount of goodwill is composed by 12.796 thousand U.S. dollars from the acquisition of RBrasil, 7.097 thousand U.S. dollars from the acquisition of Interfile and 48.225 thousand allocated to Atento Brasil from the acquisition of CRM Business from Telefonica in 2012.
v3.19.1
IMPAIRMENT OF ASSETS (Tables)
12 Months Ended
Dec. 31, 2018
Disclosure of impairment loss and reversal of impairment loss [abstract]  
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [text block]
Discount rate
Brazil Mexico Colombia Peru Chile Argentina
December 201712.74%12.09%12.48%11.54%11.35%30.25%
December 201814.10%14.07%12.46%9.75%10.49%53.04%
Growth rate
Brazil Mexico Colombia Peru Chile Argentina
December 20173.85%4.00%3.40%2.50%2.40%19.30%
December 20183.70%3.00%3.30%1.40%2.50%34.20%
The recoverable amounts per country were as follow:
Thousand U.S. dollarsRecoverable amounts
Brazil (*)Mexico Colombia Peru Chile Argentina
December 2017879,30325,40059,643226,88160,60790,143
December 2018763,44947,73274,267389,20898,31878,276
(*) The total recoverable amount of 2017 is composed by 33,618 thousand U.S. dollars from the acquisition of RBrasil, 140,373 thousand U.S. dollars from the acquisition of Interfile and 705,312 thousand from Atento Brasil. For 2018 the total recoverable amount is composed by 37,429 thousand U.S. dollars from the acquisition of RBrasil, 77,126 thousand U.S. dollars from the acquisition of Interfile and 648,894 thousand from Atento Brasil.
v3.19.1
PROPERTY, PLANT AND EQUIPMENT (PP&E) (Tables)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Disclosure of detailed information about property, plant and equipment [abstract]    
Disclosure of detailed information about property, plant and equipment [text block]
Thousands of U.S. dollars
Balance at December 31, 2017Additions Acquisitions from business combinationDisposals Transfers Translation differencesHyperinflationAdjustmentsBalance at December 31, 2018
Cost
Buildings 11,443--(1)-(514)1,20112,129
Plant and machinery 8,65955-(59)-(468)-8,187
Furniture, tools and other tangible assets329,05815,154-(18,204)952(32,412)-294,548
PP&E under construction 19,00812,542-(963)(5,314)(2,853)-22,420
Total cost368,16827,751-(19,227)(4,362)(36,247)1,201337,284
Accumulated depreciation
Buildings (3,878)(396)---316(467)(4,425)
Plant and machinery (5,687)(1,010)---365-(6,332)
Furniture, tools and other tangible assets(206,408)(35,160)-18,749-20,232-(202,587)
Total accumulated depreciation (215,973)(36,566)-18,749-20,913(467)(213,344)
Property, plant and equipment 152,195(8,815)-(478)(4,362)(15,334)734123,940
Thousands of U.S. dollars
Balance at December 31, 2016Additions Acquisitions from business combinationDisposals Transfers Translation differencesBalance at December 31, 2017
Cost
Buildings 9,792272---1,37911,443
Plant and machinery 6,843211575-4375938,659
Furniture, tools and other tangible assets317,22827,8002,053(32,300)3,11711,160329,058
PP&E under construction 9,26421,893-(10,637)(3,554)2,04219,008
Total cost343,12750,1762,628(42,937)-15,174368,168
Accumulated depreciation
Buildings (3,232)(839)-653-(460)(3,878)
Plant and machinery (4,068)(1,049)-13-(583)(5,687)
Furniture, tools and other tangible assets(170,557)(47,338)-17,827-(6,340)(206,408)
Total accumulated depreciation (177,857)(49,226)-18,493-(7,383)(215,973)
Property, plant and equipment 165,2709502,628(24,444)-7,791152,195
v3.19.1
LEASES AND SIMILAR ARRANGEMENTS (Tables)
12 Months Ended
Dec. 31, 2018
Disclosure of recognised finance lease as assets by lessee [abstract]  
Disclosure of finance lease and operating lease by lessee [text block]
Thousands of U.S. dollars
Net carrying amount of asset
20172018
Finance leases
Furniture, tools and other tangible assets 6,6194,815
Plant and machinery1,847983
Total 8,4665,798

Thousands of U.S. dollars
20172018
Up to 1 year 63,17841,217
Between 1 and 5 years 124,91381,735
More than 5 years 52,02130,376
Total 240,112153,328
v3.19.1
OTHER FINANCIAL ASSETS (Tables)
12 Months Ended
Dec. 31, 2018
Miscellaneous assets [abstract]  
Details of other financial assets explanatory
Thousands of U.S. dollars
20172018
Other non-current receivables (*)11,12513,232
Non-current guarantees and deposits 49,09751,838
Total non-current 60,22265,070
Other current receivables 805272
Current guarantees and deposits 1,005619
Total current 1,810891
Total 62,03265,961
v3.19.1
TRADE AND OTHER RECEIVABLES (Tables)
12 Months Ended
Dec. 31, 2018
Trade and other receivables [abstract]  
Disclosure of trade and other receivables breakdown [text block]
Thousands of U.S. dollars
20172018
Non-current trade receivables 6,9236,430
Other non-financial assets (*)14,75412,718
Total non-current 21,67719,148
Current trade receivables 358,311279,926
Other receivables 13,2258,439
Prepayments 7,84918,332
Personnel 9,1808,957
Total current 388,565315,654
Total 410,242334,802
(*) "Other non-financial assets" as of December 31, 2018 primarily comprise tax credits with the Brazilian social security authority (Instituto Nacional do Seguro Social), recorded in Atento Brasil S.A.
Disclosure of provision matrix [text block]
Thousands of U.S. dollars
20172018
Trade receivables 371,333288,531
Allowances of trade receivables(6,099)(2,175)
Trade receivables, net 365,234286,356
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [text block]
Thousands of U.S. dollars
Less than 90 daysBetween 90 and 180 daysBetween 180 and 360 daysOver 360 daysTotal
12/31/201720,2681,4761,7343,40626,884
12/31/201814,7041,0262,6914,33022,751
Disclosure of credit risk exposure [text block]
Thousands of U.S. dollars
20172018
Opening balance (4,279)(6,099)
Allowance of trade receivables(3,061)(1,854)
Reversal 553824
Write off-3,031
Translation differences 6881,923
Total(6,099)(2,175)
v3.19.1
DERIVATIVE FINANCIAL INSTRUMENTS (Tables)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Disclosure of detailed information about hedges [line items]    
Details Of Derivative Financial Instruments Explanatory
Thousands of U.S. dollars
20172018
AssetsLiabilitiesAssetsLiabilities
Interest rate swaps - cash flow hedges-(1,212)--
Cross currency swaps - net investment hedges7,429(5,140)11,313-
Cross currency swaps - that do not meet the criteria for hedge accounting 748--(682)
Total 8,177(6,352)11,313(682)
Non-current portion 8,177(5,140)11,313(682)
Current portion -(1,212)--
 
Interest rate swap contract [member]    
Disclosure of detailed information about hedges [line items]    
Disclosure of detailed information about hedges [text block]
2018
Interest Rate Swap
BankMaturityNotionalcurrencyIndexNotional in contract currency (thousands)Fair value assetsFair value liabilityOthercomprehensiveincome, net oftaxesChange inOCI, net of taxesStatements of operations - Finance cost
D/(C)D/(C)D/(C)D/(C)D/(C)
ItauDec-18BRLBRL CDI135,000----972
----972
Cross Currency Swaps - that do not qualify for hedge accounting
BankMaturityPurchase currencySelling currencyNotional (thousands)Fair value assetsFair value liabilityOther comprehensive incomeChange in OCI, net of taxesStatements of operations - Finance cost
D/(C)D/(C)D/(C)D/(C)D/(C)
Goldman SachsAug-22BRLUSD754,4406,020---(4,302)
6,020---(4,302)
Cross-currency swap- Net Investment Hedges
BankMaturityPurchase currencySelling currencyNotional (thousands)Fair value assetsFair value liabilityOther comprehensive incomeChange inOCIIncome statement - Finance Cost
D/(C)D/(C)D/(C)D/(C)D/(C)
Nomura International22-AugEURUSD34,109189-(257)640-
Goldman Sachs22-AugMXNUSD1,065,0606,025(922)(3,094)(4,163)-
Goldman Sachs22-AugPENUSD194,460-(682)2,4132,333-
Santander20-JanUSDEUR20,000--1,742 - -
Santander20-JanUSDMXN11,111--(2,113) - -
Goldman Sachs20-JanUSDEUR48,000--3,587 - -
Goldman Sachs20-JanUSDMXN40,000--(7,600) - -
Nomura International20-JanUSDMXN23,889--(4,357) - -
Nomura International20-JanUSDEUR22,000--1,620 - -
Goldman Sachs18-JanUSDPEN13,800--22--
Goldman Sachs18-JanUSDCOP7,200--(80)--
BBVA18-JanUSDPEN55,200-71 - -
BBVA18-JanUSDCOP28,800--(359) - -
6,214(1,604)(8,405)(1,190)-
Total12,234(1,604)(8,405)(1,190)(3,330)
Derivative financial instrument-asset11,313
Derivative financial instrument-liability(682)
2017
Interest Rate Swap
BankMaturityNotionalcurrencyIndexNotional in contract currency (thousands)Fair value liabilityOther comprehensive income, net of taxesChange inOCI, net of taxesStatements of operations - Finance costStatements of operations - Change in fair value
D/(C)D/(C)D/(C)D/(C)D/(C)
ItauDec-18BRLBRL CDI135,000(1,212)-(781)954-
(1,212)-(781)954-
Cross Currency Swaps - that do not qualify for hedge accounting
BankMaturityPurchase currencySelling currencyNotional (thousands)Fair value assetOther comprehensive incomeChange inOCI, net of taxesStatements of operations - Finance costStatements of operations - Change in fair value
D/(C)D/(C)D/(C)D/(C)D/(C)
ABC Brasil S.A.Nov-17USDBRL12,232---(1,863)-
Goldman SachsAug-22BRLUSD754,440748---(748)
748--(1,863)(748)
Net Investment Hedges
BankMaturityPurchase currencySelling currencyNotional (thousands)Fair value asset/(liability)Other comprehensive incomeChange inOCIIncome statement - Finance CostIncome statement - Change in fair value
D/(C)D/(C)D/(C)D/(C)D/(C)
Nomura International22-AugEURUSD34,109(382)382(382)--
Goldman Sachs22-AugMXNUSD1,065,0607,256(7,256)7,256--
Goldman Sachs22-AugPENUSD194,460(4,758)4,758(4,758)--
Santander20-JanUSDEUR20,000-1,742(2,522)-88
Santander20-JanUSDMXN11,111-(2,113)(2,411)-21
Goldman Sachs20-JanUSDEUR48,000-3,587(5,452)-217
Goldman Sachs20-JanUSDMXN40,000-(7,600)(8,671)-(47)
Nomura International20-JanUSDMXN23,889-(4,357)(5,358)-105
Nomura International20-JanUSDEUR22,000-1,620(2,476)-99
Goldman Sachs18-JanUSDPEN13,8008419(59)-6
BBVA18-JanUSDPEN55,200-71(229)-23
Goldman Sachs18-JanUSDCOP7,20089(88)(19)-(1)
BBVA18-JanUSDCOP28,800-(359)(65)-7
2,289(9,594)(25,146)-518
Total1,825(9,594)(25,927)(909)(230)
Derivative financial instrument-asset8,177
Derivative financial instrument-liability(6,352)
Currency swap contract [member]    
Disclosure of detailed information about hedges [line items]    
Disclosure of detailed information about hedges [text block]
2018
Interest Rate Swap
BankMaturityNotionalcurrencyIndexNotional in contract currency (thousands)Fair value assetsFair value liabilityOthercomprehensiveincome, net oftaxesChange inOCI, net of taxesStatements of operations - Finance cost
D/(C)D/(C)D/(C)D/(C)D/(C)
ItauDec-18BRLBRL CDI135,000----972
----972
Cross Currency Swaps - that do not qualify for hedge accounting
BankMaturityPurchase currencySelling currencyNotional (thousands)Fair value assetsFair value liabilityOther comprehensive incomeChange in OCI, net of taxesStatements of operations - Finance cost
D/(C)D/(C)D/(C)D/(C)D/(C)
Goldman SachsAug-22BRLUSD754,4406,020---(4,302)
6,020---(4,302)
Cross-currency swap- Net Investment Hedges
BankMaturityPurchase currencySelling currencyNotional (thousands)Fair value assetsFair value liabilityOther comprehensive incomeChange inOCIIncome statement - Finance Cost
D/(C)D/(C)D/(C)D/(C)D/(C)
Nomura International22-AugEURUSD34,109189-(257)640-
Goldman Sachs22-AugMXNUSD1,065,0606,025(922)(3,094)(4,163)-
Goldman Sachs22-AugPENUSD194,460-(682)2,4132,333-
Santander20-JanUSDEUR20,000--1,742 - -
Santander20-JanUSDMXN11,111--(2,113) - -
Goldman Sachs20-JanUSDEUR48,000--3,587 - -
Goldman Sachs20-JanUSDMXN40,000--(7,600) - -
Nomura International20-JanUSDMXN23,889--(4,357) - -
Nomura International20-JanUSDEUR22,000--1,620 - -
Goldman Sachs18-JanUSDPEN13,800--22--
Goldman Sachs18-JanUSDCOP7,200--(80)--
BBVA18-JanUSDPEN55,200-71 - -
BBVA18-JanUSDCOP28,800--(359) - -
6,214(1,604)(8,405)(1,190)-
Total12,234(1,604)(8,405)(1,190)(3,330)
Derivative financial instrument-asset11,313
Derivative financial instrument-liability(682)

2018
Interest Rate Swap
BankMaturityNotionalcurrencyIndexNotional in contract currency (thousands)Fair value assetsFair value liabilityOthercomprehensiveincome, net oftaxesChange inOCI, net of taxesStatements of operations - Finance cost
D/(C)D/(C)D/(C)D/(C)D/(C)
ItauDec-18BRLBRL CDI135,000----972
----972
Cross Currency Swaps - that do not qualify for hedge accounting
BankMaturityPurchase currencySelling currencyNotional (thousands)Fair value assetsFair value liabilityOther comprehensive incomeChange in OCI, net of taxesStatements of operations - Finance cost
D/(C)D/(C)D/(C)D/(C)D/(C)
Goldman SachsAug-22BRLUSD754,4406,020---(4,302)
6,020---(4,302)
Cross-currency swap- Net Investment Hedges
BankMaturityPurchase currencySelling currencyNotional (thousands)Fair value assetsFair value liabilityOther comprehensive incomeChange inOCIIncome statement - Finance Cost
D/(C)D/(C)D/(C)D/(C)D/(C)
Nomura International22-AugEURUSD34,109189-(257)640-
Goldman Sachs22-AugMXNUSD1,065,0606,025(922)(3,094)(4,163)-
Goldman Sachs22-AugPENUSD194,460-(682)2,4132,333-
Santander20-JanUSDEUR20,000--1,742 - -
Santander20-JanUSDMXN11,111--(2,113) - -
Goldman Sachs20-JanUSDEUR48,000--3,587 - -
Goldman Sachs20-JanUSDMXN40,000--(7,600) - -
Nomura International20-JanUSDMXN23,889--(4,357) - -
Nomura International20-JanUSDEUR22,000--1,620 - -
Goldman Sachs18-JanUSDPEN13,800--22--
Goldman Sachs18-JanUSDCOP7,200--(80)--
BBVA18-JanUSDPEN55,200-71 - -
BBVA18-JanUSDCOP28,800--(359) - -
6,214(1,604)(8,405)(1,190)-
Total12,234(1,604)(8,405)(1,190)(3,330)
Derivative financial instrument-asset11,313
Derivative financial instrument-liability(682)
2017
Interest Rate Swap
BankMaturityNotionalcurrencyIndexNotional in contract currency (thousands)Fair value liabilityOther comprehensive income, net of taxesChange inOCI, net of taxesStatements of operations - Finance costStatements of operations - Change in fair value
D/(C)D/(C)D/(C)D/(C)D/(C)
ItauDec-18BRLBRL CDI135,000(1,212)-(781)954-
(1,212)-(781)954-
Cross Currency Swaps - that do not qualify for hedge accounting
BankMaturityPurchase currencySelling currencyNotional (thousands)Fair value assetOther comprehensive incomeChange inOCI, net of taxesStatements of operations - Finance costStatements of operations - Change in fair value
D/(C)D/(C)D/(C)D/(C)D/(C)
ABC Brasil S.A.Nov-17USDBRL12,232---(1,863)-
Goldman SachsAug-22BRLUSD754,440748---(748)
748--(1,863)(748)
Net Investment Hedges
BankMaturityPurchase currencySelling currencyNotional (thousands)Fair value asset/(liability)Other comprehensive incomeChange inOCIIncome statement - Finance CostIncome statement - Change in fair value
D/(C)D/(C)D/(C)D/(C)D/(C)
Nomura International22-AugEURUSD34,109(382)382(382)--
Goldman Sachs22-AugMXNUSD1,065,0607,256(7,256)7,256--
Goldman Sachs22-AugPENUSD194,460(4,758)4,758(4,758)--
Santander20-JanUSDEUR20,000-1,742(2,522)-88
Santander20-JanUSDMXN11,111-(2,113)(2,411)-21
Goldman Sachs20-JanUSDEUR48,000-3,587(5,452)-217
Goldman Sachs20-JanUSDMXN40,000-(7,600)(8,671)-(47)
Nomura International20-JanUSDMXN23,889-(4,357)(5,358)-105
Nomura International20-JanUSDEUR22,000-1,620(2,476)-99
Goldman Sachs18-JanUSDPEN13,8008419(59)-6
BBVA18-JanUSDPEN55,200-71(229)-23
Goldman Sachs18-JanUSDCOP7,20089(88)(19)-(1)
BBVA18-JanUSDCOP28,800-(359)(65)-7
2,289(9,594)(25,146)-518
Total1,825(9,594)(25,927)(909)(230)
Derivative financial instrument-asset8,177
Derivative financial instrument-liability(6,352)
Hedges of net investment in foreign operations [member]    
Disclosure of detailed information about hedges [line items]    
Disclosure of detailed information about hedges [text block]
2018
Interest Rate Swap
BankMaturityNotionalcurrencyIndexNotional in contract currency (thousands)Fair value assetsFair value liabilityOthercomprehensiveincome, net oftaxesChange inOCI, net of taxesStatements of operations - Finance cost
D/(C)D/(C)D/(C)D/(C)D/(C)
ItauDec-18BRLBRL CDI135,000----972
----972
Cross Currency Swaps - that do not qualify for hedge accounting
BankMaturityPurchase currencySelling currencyNotional (thousands)Fair value assetsFair value liabilityOther comprehensive incomeChange in OCI, net of taxesStatements of operations - Finance cost
D/(C)D/(C)D/(C)D/(C)D/(C)
Goldman SachsAug-22BRLUSD754,4406,020---(4,302)
6,020---(4,302)
Cross-currency swap- Net Investment Hedges
BankMaturityPurchase currencySelling currencyNotional (thousands)Fair value assetsFair value liabilityOther comprehensive incomeChange inOCIIncome statement - Finance Cost
D/(C)D/(C)D/(C)D/(C)D/(C)
Nomura International22-AugEURUSD34,109189-(257)640-
Goldman Sachs22-AugMXNUSD1,065,0606,025(922)(3,094)(4,163)-
Goldman Sachs22-AugPENUSD194,460-(682)2,4132,333-
Santander20-JanUSDEUR20,000--1,742 - -
Santander20-JanUSDMXN11,111--(2,113) - -
Goldman Sachs20-JanUSDEUR48,000--3,587 - -
Goldman Sachs20-JanUSDMXN40,000--(7,600) - -
Nomura International20-JanUSDMXN23,889--(4,357) - -
Nomura International20-JanUSDEUR22,000--1,620 - -
Goldman Sachs18-JanUSDPEN13,800--22--
Goldman Sachs18-JanUSDCOP7,200--(80)--
BBVA18-JanUSDPEN55,200-71 - -
BBVA18-JanUSDCOP28,800--(359) - -
6,214(1,604)(8,405)(1,190)-
Total12,234(1,604)(8,405)(1,190)(3,330)
Derivative financial instrument-asset11,313
Derivative financial instrument-liability(682)
2017
Interest Rate Swap
BankMaturityNotionalcurrencyIndexNotional in contract currency (thousands)Fair value liabilityOther comprehensive income, net of taxesChange inOCI, net of taxesStatements of operations - Finance costStatements of operations - Change in fair value
D/(C)D/(C)D/(C)D/(C)D/(C)
ItauDec-18BRLBRL CDI135,000(1,212)-(781)954-
(1,212)-(781)954-
Cross Currency Swaps - that do not qualify for hedge accounting
BankMaturityPurchase currencySelling currencyNotional (thousands)Fair value assetOther comprehensive incomeChange inOCI, net of taxesStatements of operations - Finance costStatements of operations - Change in fair value
D/(C)D/(C)D/(C)D/(C)D/(C)
ABC Brasil S.A.Nov-17USDBRL12,232---(1,863)-
Goldman SachsAug-22BRLUSD754,440748---(748)
748--(1,863)(748)
Net Investment Hedges
BankMaturityPurchase currencySelling currencyNotional (thousands)Fair value asset/(liability)Other comprehensive incomeChange inOCIIncome statement - Finance CostIncome statement - Change in fair value
D/(C)D/(C)D/(C)D/(C)D/(C)
Nomura International22-AugEURUSD34,109(382)382(382)--
Goldman Sachs22-AugMXNUSD1,065,0607,256(7,256)7,256--
Goldman Sachs22-AugPENUSD194,460(4,758)4,758(4,758)--
Santander20-JanUSDEUR20,000-1,742(2,522)-88
Santander20-JanUSDMXN11,111-(2,113)(2,411)-21
Goldman Sachs20-JanUSDEUR48,000-3,587(5,452)-217
Goldman Sachs20-JanUSDMXN40,000-(7,600)(8,671)-(47)
Nomura International20-JanUSDMXN23,889-(4,357)(5,358)-105
Nomura International20-JanUSDEUR22,000-1,620(2,476)-99
Goldman Sachs18-JanUSDPEN13,8008419(59)-6
BBVA18-JanUSDPEN55,200-71(229)-23
Goldman Sachs18-JanUSDCOP7,20089(88)(19)-(1)
BBVA18-JanUSDCOP28,800-(359)(65)-7
2,289(9,594)(25,146)-518
Total1,825(9,594)(25,927)(909)(230)
Derivative financial instrument-asset8,177
Derivative financial instrument-liability(6,352)
v3.19.1
CASH AND CASH EQUIVALENTS (Tables)
12 Months Ended
Dec. 31, 2018
Cash and cash equivalents [abstract]  
Disclosure of restricted cash and cash equivalents [text block]
Thousands of U.S. dollars
20172018
Deposits held at call111,495100,706
Short-term financial investments30,26732,820
Total 141,762133,526
v3.19.1
FINANCIAL LIABILITIES (Tables)
12 Months Ended
Dec. 31, 2018
Disclosure of financial liabilities [abstract]  
Disclosure of maturity analysis for non-derivative financial liabilities [text block]
2017Thousands of U.S. dollars
Maturity (years)
20182019202020212022More than 5 yearsTotal
Senior Secured Notes 24,50024,50024,50024,500424,500-522,500
Brazilian bonds—Debentures 5,9435,5665,2764,9014,4582,02628,170
Finance leases 5,1284,2611,907887442-12,625
Bank borrowings 30,99424,2254,373558438-60,588
Trade and other payables 208,5328,094----216,626
Total financial liabilities 275,09766,64636,05630,846429,8382,026840,509
2018Thousands of U.S. dollars
Maturity (years)
20192020202120222023More than 5 yearsTotal
Senior Secured Notes 24,50024,50024,500424,500 - -498,000
Brazilian bonds—Debentures 4,6984,3784,0913,7591,721-18,647
Finance leases 3,7851,691794384 - -6,654
Bank borrowings 36,1763,726474372 - -40,748
Trade and other payables 184,88614,391----199,277
Total financial liabilities 254,04548,68629,859429,0151,721-763,326
v3.19.1
FINANCIAL DEBT WITH THIRD PARTIES (Tables)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Disclosure of detailed information about borrowings [line items]    
Disclosure of borrowings [text block]
Thousands of U.S. dollars
20172018
Senior Secured Notes 388,818390,507
Brazilian bonds—Debentures 16,79711,163
Bank borrowing27,8784,387
Finance lease payables (Note 10) 6,2382,369
Total non-current 439,731408,426
Senior Secured Notes 9,5289,528
Brazilian bonds—Debentures 4,2583,545
Bank borrowing 28,51435,111
Finance lease payables (Note 10) 4,2603,158
Total current 46,56051,342
TOTAL DEBT WITH THIRD PARTIES486,291459,768
 
Disclosure of detailed information about borrowings [text block]
2016Thousands of U.S. dollars
December 31, 2015Cash flows from/(used in financing activities)New leasesInterest accruedInterest paid (*)Foreign exchange lossesAmortization (addition) feesTranslation differencesOtherDecember 31, 2016
New borrowingAmortizationFair value adjustment
Senior Secured Notes 301,713---22,128(22,128)--1,637--303,350
Brazilian bonds - Debentures168,091-(44,356)-33,013(36,598)--76435,682-156,596
CVI26,240-----2,314(27,762)-(792)--
Finance lease payables4,737-(542)-303(303)-(805)-246-3,636
Other borrowings74,785235(18,032)-7,265(7,058)---14,158-71,353
Total575,566235(62,930)-62,709(66,087)2,314(28,567)2,40149,294-534,935
2017Thousands of U.S. dollars
December 31, 2016Cash flows from/(used in financing activities)New leasesInterest accruedInterest paid (*)Foreign exchange lossesAmortization (addition) feesTranslation differencesOtherDecember 31, 2017
New borrowingAmortizationFair value adjustment
Senior Secured Notes 303,350400,000(300,000)-23,609(23,361)--(5,252)--398,346
Brazilian bonds - Debentures156,59622,320(162,591)-15,373(15,331)--8373,851-21,055
Finance lease payables3,636-(2,816)10,302425(425)---(624)-10,498
Other borrowings71,35352,145(69,053)-5,485(5,051)---1,513-56,392
Total534,935474,465(534,460)10,30244,892(44,168)--(4,415)4,740-486,291
2018Thousands of U.S. dollars
December 31, 2017Cash flows from/(used in financing activities)New leasesInterest accruedInterest paid (*)Foreign exchange lossesAmortization (addition) feesTranslation differencesOtherDecember 31, 2018
New borrowingAmortizationFair value adjustment
Senior Secured Notes 398,346- - -24,500(24,500)--2,245(556)-400,035
Brazilian Debentures21,055-(3,543)-1,809(1,920)--(118)(2,568)-14,715
Finance Lease Payables10,498-(4,221)-856(856)-- - (770)-5,507
Other borrowings56,39258,462(73,911)-3,491(6,283)-- - 1,339-39,490
Total486,29158,462(81,675)-30,656(33,559)--2,127(2,555)-459,747
 
Disclosure of financial instruments by type of interest rate [text block]
TrancheInterest Rate
Tranche ALong-Term Interest Rate (Taxa de Juros de Longo Prazo — TJLP) plus 2.5% per annum
Tranche BSELIC Rate plus 2.5% per annum
Tranche C4.0% per year
Tranche D6.0% per year
Tranche ELong-Term Interest Rate (Taxa de Juros de Longo Prazo — TJLP)
 
Later than four years and not later than five years [member]    
Disclosure of detailed information about borrowings [line items]    
Disclosure of detailed information about borrowings [text block]  
Thousands of U.S. dollars
20172018
MaturityCurrencyPrincipalAccrued interestsTotal debtPrincipalAccrued interestsTotal debt
2022U.S. dollar 388,8189,528398,346390,5079,528400,035
Later than three years and not later than four years [member]    
Disclosure of detailed information about borrowings [line items]    
Disclosure of detailed information about borrowings [text block]  
Thousands of U.S. dollars
20172018
MaturityCurrencyPrincipalAccrued interestsTotal debtPrincipalAccrued interestsTotal debt
2023Brazilian Reais16,7974,25821,05511,1633,54514,708
v3.19.1
TRADE AND OTHER NON TRADE PAYABLES (Tables)
12 Months Ended
Dec. 31, 2018
Trade and other payables [abstract]  
Disclosure of detailed information about trade and other payables explanatory
Thousands of U.S. dollars
20172018
Other payables7,75013,744
Suppliers344647
Total non-current non-trade payables8,09414,391
Suppliers92,21674,616
Advances 1,8622,296
Total current trade payables94,07876,912
Suppliers of fixed assets 15,59826,003
Personnel80,63167,644
Other payables 17,78713,526
Advances from customers438789
Total current other non-trade payables114,454107,962
Total current 208,532184,874
Total216,626199,265
v3.19.1
EQUITY (Tables)
12 Months Ended
Dec. 31, 2018
The 2016 Grant [member]  
Disclosure of terms and conditions of share-based payment arrangement [line items]  
Disclosure of number and weighted average exercise prices of other equity instruments [text block]
The 2014 PlanTime RSUTime RSU
Outstanding December 31, 2015119,634871,649
Forfeited (*)(15,880)(871,649)
Vested (**)(103,754)-
(*) RSUs are forfeited during the year due to employees failing to satisfy the service or non-market performance conditions.
(**) As of October 1, 2016, a total of 103,754 Time RSUs of the Time Restricted Stock Unit Award Agreement became vested and were exercised.
The 2016 PlanTime RSU
Outstanding December 31, 20161,367,896
Forfeited (*)(219,271)
Outstanding December 31, 20171,148,625
Forfeited (*)(39,287)
Outstanding December 31, 20181,109,338
(*) RSUs are forfeited during the year due to employees failing to satisfy the service conditions.
The 2016 Extraordinary PlanTime RSU
Grantes July 1, 201682,157
Vested (*)(54,171)
Outstanding December 31, 201627,986
Forfeited (**)(27,986)
(*) As of October 1, 2016, a total of 54,171 Time RSUs of the Time Restricted Stock Unit Award Agreement became vested and were exercised.
(**) RSUs are forfeited in first quarter of 2017 due to employees failing to satisfy the service conditions.
The 2017 PlanTime RSU
Granted July 3, 2017886,187
Forfeited (*)(24,324)
Outstanding December 31, 2017861,863
Forfeited (*)(46,170)
Outstanding December 31, 2018815,693
(*) RSUs are forfeited during the year due to employees failing to satisfy the service conditions.
The 2018 PlanTime RSU
Outstanding December 31, 20181,060,220
(*) RSUs are forfeited during the year due to employees failing to satisfy the service conditions.
The 2016 Grant [member] | Subsidiaries [member]  
Disclosure of terms and conditions of share-based payment arrangement [line items]  
Disclosure of number and weighted average exercise prices of other equity instruments [text block]
The 2014 PlanTime RSUPerformance RSU
CountryBalance as of December 31, 2015ForfeitedVestedBalance December 31, 2016Balance as of December 31, 2015ForfeitedBalance December 31, 2016
Argentina6,095(1,099)(4,996)-18,229(18,229)-
Brazil49,564(13,510)(36,054)-306,743(306,743)-
Chile4,925(1)(4,924)-48,345(48,345)-
Spain15,18349(15,232)-94,371(94,371)-
France2,060(2,060)--3,845(3,845)-
Guatemala1,024(1)(1,023)-1,911(1,911)-
Mexico22,933(13,192)(9,741)-102,938(102,938)-
Morocco1,468-(1,468)-2,742(2,742)-
Peru2,6021,097(3,699)-8,096(8,096)-
United States13,78012,837(26,617)-284,429(284,429)-
Total 119,634(15,880)(103,754)-871,649(871,649)-
The 2016 PlanTime RSU
CountryBalance as of December 31, 2016ForfeitedBalance December 31, 2017ForfeitedBalance December 31, 2018
Argentina21,981(5,458)16,52314,59231,115
Brazil214,764(13,715)201,049(23,348)177,701
Chile67,395(5,870)61,525(3,392)58,133
Colombia10,940-10,940-10,940
Spain124,761(23,271)101,49054,063155,553
Guatemala-(798)798-798
Mexico143,052(35,557)107,495(70,732)36,763
Peru16,462(11,176)5,2863,3928,678
United States768,541(125,022)643,519(13,862)629,657
Total 1,367,896(219,271)1,148,625(39,287)1,109,338
The 2016 Extraordinary PlanTime RSU
CountryBalance as of December 31, 2016GrantedVestedForfeited
United States-82,157(54,171)(27,986)
Total -82,157(54,171)(27,986)
The 2017 Plan
Time RSU
CountryBalance as of December 31, 2017ForfeitedBalance December 31, 2018
Brazil117,667(46,170)71,497
Chile66,028-66,028
Spain69,398-69,398
United States608,770-608,770
Total 861,863(46,170)815,693
The 2018 Plan
Time RSU
CountryBalance December 31, 2018
Argentina27,244
Brazil282,743
Chile70,009
Colombia21,049
Spain105,168
Mexico60,736
Peru20,306
United States472,965
Total 1,060,220
Market approach [member] | The 2014 Grant [member]  
Disclosure of terms and conditions of share-based payment arrangement [line items]  
Disclosure of fair value measurement of equity [text block]
Time RSUPerformance RSU
Time RSUTime RSUAdj. EBITDATSR 1TSR 2Comments
Variable
Stock price (USD)11.0611.0611.0611.0611.06Stock price of Atento S.A. in USD at grant date December 3, 2014
Strike price (USD)0.010.010.0119.9727.74Value close to nil will be paid
Time (years)12333Time to vest as per the contract
Risk free rate18.00%0.57%1.04%1.04%1.04%USD risk free rate obtained from Bloomberg
Expected volatility4.11%4.11%4.11%4.11%4.11%Assumption is made to base volatility on the average volatility of main competitors because Atento S.A. itself is listed in October 2014
Dividend yield2.00%2.00%2.00%2.00%2.00%Assumption is made to set dividend yield at 2% because 1) there will be a limited ability to pay dividends in the near term and 2) it is in line with the dividend yield of the main competitors
Value RSU in USD10.8310.6210.4100
Market approach [member] | The 2016 Grant [member]  
Disclosure of terms and conditions of share-based payment arrangement [line items]  
Disclosure of fair value measurement of equity [text block]
Time RSUComments
Variable
Stock price (USD)9.07Stock price of Atento S.A. in USD at grant date July 1, 2016
Strike price (USD)0.01For valuation purposes set to 0.01
Time (years)2.5Time to vest as per the contract
Risk free rate0.86%USD risk free rate obtained from Bloomberg
Expected volatility24.40%Assumption is made to base volatility on the average volatility of main competitors because Atento S.A. itself is listed in October 2014
Dividend yield0.01%Assumption is made here that no dividends will be paid out as this is not in the line of expectations
Value RSU in USD9.06

Time RSUTime RSUComments
Variable
Stock price (USD)9.079.07Stock price of Atento S.A. in USD at grant date July 1, 2016
Strike price (USD)0.010.01For valuation purposes set to 0.01
Time (years)0.251.5Time to vest as per the contract
Risk free rate18.00%85.00%USD risk free rate obtained from Bloomberg
Expected volatility36.29%36.87%Volatility based on shares prices from Atento S.A.
Dividend yield0.01%0.01%Assumption is made here that no dividends will be paid out as this is not in the line of expectations
Value RSU in USD9.069.06
Market approach [member] | The 2017 Grant [member]  
Disclosure of terms and conditions of share-based payment arrangement [line items]  
Disclosure of fair value measurement of equity [text block]
Time RSUComments
Variable
Stock price (USD)11Stock price of Atento S.A. in USD at grant date July 3, 2017
Strike price (USD)0.01For valuation purposes set to 0.01
Time (years)2.5Time to vest as per the contract
Risk free rate1.51%USD risk free rate obtained from Bloomberg
Expected volatility24.83%Assumption is made to base volatility on the average volatility of main competitors because Atento S.A. itself is listed in October 2014
Dividend yield0.01%Assumption is made here that no dividends will be paid out as this is not in the line of expectations
Value RSU in USD10.99
Market approach [member] | The 2018 Grant [member]  
Disclosure of terms and conditions of share-based payment arrangement [line items]  
Disclosure of fair value measurement of equity [text block]
Time RSUComments
Variable
Stock price (USD)7Stock price of Atento S.A. in USD at grant date July 2, 2018
Strike price (USD)0.01For valuation purposes set to 0.01
Time (years)2.5Time to vest as per the contract
Risk free rate2.60%USD risk free rate obtained from Bloomberg
Expected volatility23.05%Assumption is made to base volatility on the average volatility of main competitors because Atento S.A. itself is listed in October 2014
Dividend yield0.01%Assumption is made here that no dividends will be paid out as this is not in the line of expectations
Value RSU in USD6,989
v3.19.1
TAX MATTERS (Tables)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Major components of tax expense (income) [abstract]    
Disclosure of temporary difference, unused tax losses and unused tax credits [text block]
Thousands of U.S. dollars
For the year ended December 31,
2016(*)20172018
Profit/(loss) before income tax 8,564(1,035)33,900
Income tax applying the statutory tax rate (2,484)310(12,899)
Permanent differences (13,655)(12,635)(5,052)
Adjustments due to international tax rates 11,526(445)540
Tax credits7911,1122,297
Branches income tax (1,385)(875)1,700
Total income tax expense(5,207)(12,533)(13,414)
(*) Exclude discontinued operations - Marocco.
 
Disclosure of components of Income tax explanatory
Thousands of U.S. dollars
For the year ended December 31,
2016(*)20172018
Current tax expense (22,852)(20,175)(24,426)
Deferred tax 17,6457,64211,012
Total income tax expense(5,207)(12,533)(13,414)
Exclude discontinued operations Marocco(*)
 
Disclosure of deferred taxes [text block]
Thousands of U.S. dollars
Balance at 12/31/2017Income StatementEquity Acquisition of Business CombinationsOthers (**)Translation differences Balance at 12/31/2018
Increases Decreases Increases Decreases
DEFERRED TAX ASSETS 131,32619,324(14,537)----(10,950)125,163
Unused tax losses (*) 29,6632,246(1,557)----(6,938)23,414
Unused tax credits 5,381310(72)----(1,684)3,935
Deferred tax assets (temporary differences) 96,28216,768(12,908)----(2,327)97,815
DEFERRED TAX LIABILITIES (43,942)(569)6,794----7,496(30,221)
Deferred tax liabilities (temporary differences) (43,942)(569)6,794----7,496(30,221)
(*) Tax credits for loss carryforwards.
(**) Refer to the use of tax losses for the purpose discharge debts of Withholding Tax (Imposto de Renda Retido na Fonte - “IRRF”), Social Integration Program (Programa de Integração Social - “PIS”), Social Security Contribution (Contribuição para Financiamento da Seguridade Social - “COFINS”), and Social Contribution Tax on Profits (Contribuição Social sobre o Lucro Líquido - “CSLL”), according to the Special Tax Regularization Program (Programa Especial de Regularização Tributária - “PERT”). This compensation was made with liability balances and therefore did not affect the income tax expense for the period.
Thousands of U.S. dollars
Balance at 12/31/2016Income StatementEquity Acquisition of Business CombinationsOthers (**)Translation differences Balance at 12/31/2017
Increases Decreases Increases Decreases
DEFERRED TAX ASSETS 118,34237,723(35,215)--2,366(570)8,680131,326
Unused tax losses (*) 16,95417,671(7,560)--714(570)2,45429,663
Unused tax credits 3,6942,171(815)----3315,381
Deferred tax assets (temporary differences) 97,69417,881(26,840)--1,652-5,89596,282
DEFERRED TAX LIABILITIES (45,597)(1,888)7,022-403(2,688)-(1,194)(43,942)
Deferred tax liabilities (temporary differences) (45,597)(1,888)7,022-403(2,688)-(1,194)(43,942)
(*) Tax credits for loss carryforwards.
(**) Refer to the use of tax losses for the purpose discharge debts of Withholding Tax (Imposto de Renda Retido na Fonte - “IRRF”), Social Integration Program (Programa de Integração Social - “PIS”), Social Security Contribution (Contribuição para Financiamento da Seguridade Social - “COFINS”), and Social Contribution Tax on Profits (Contribuição Social sobre o Lucro Líquido - “CSLL”), according to the Special Tax Regularization Program (Programa Especial de Regularização Tributária - “PERT”). This compensation was made with liability balances and therefore did not affect the income tax expense for the period.
Disclosure of deferred tax expense arising from write-down or reversal of write-down of deferred tax asset
Thousands of U.S. dollars
2017201820192020202120222023Subsequent yearsTotal
Tax losses 2,4314,8495,3681,8007492,71311,75329,663
Deductible temporary differences 12,57814,01814,40115,06515,0668,07517,07996,282
Tax credits for deductions 1,2661,2661,2661,266317--5,381
Total deferred tax assets 16,27520,13321,03518,13116,13310,78828,831131,326
Total deferred tax liabilities 4,4364,4364,4364,4364,4364,43617,32643,942
Thousands of U.S. dollars
2018201920202021202220232024Subsequent yearsTotal
Tax losses 12,8049,3651,245----23,414
Deductible temporary differences 14,39015,80118,15224,73624,736--97,815
Tax credits for deductions 1,2208425814012761914263,935
Total deferred tax assets 28,41426,00819,97825,13725,012191426125,164
Total deferred tax liabilities (236)2,6844,6966,0827,0387,6972,26030,221
 
Disclosure of tax receivables and payables [text block]
Thousands of U.S. dollars
As of December 31,
Receivables20172018
Non-current
Indirect taxes 7,2826,061
Current
Indirect taxes 4,76411,956
Other taxes 7,3088,019
12,07219,975
Income tax 21,96926,421
Total 41,32352,457
Thousands of U.S. dollars
As of December 31,
Payables20172018
Non-current
Social security 1,0253,145
Current
Indirect taxes 28,02428,188
Other taxes 58,14250,323
86,16678,511
Income tax 8,05810,615
Total 95,24992,271
 
v3.19.1
PROVISIONS AND CONTINGENCIES (Tables)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Disclosure of contingent liabilities [abstract]    
Disclosure of provisions [text block]
Thousands of U.S. dollars
12/31/2017AdditionsAdditions from business combination (Note 5)PaymentsReversalTransfersTranslation differences12/31/2018
Non-current
Provisions for liabilities 30,81022,074-(7,665)(16,135)(81)(4,466)24,537
Provisions for taxes 19,8336,185-(243)(6,354)82(2,632)16,871
Provisions for dismantling 9,249994-(1)(174)(383)(1,255)8,430
Other provisions 1,294371-(151)(1,044)(1)8671,336
Total non-current 61,18629,624-(8,060)(23,707)(383)(7,486)51,174
Current
Provisions for liabilities 10,5434,015-(2,139)(479)-(2,920)9,020
Provisions for taxes 5,641---(2,959)-(227)2,455
Provisions for dismantling -19--(312)383(30)60
Other provisions 2,8846,925-(65)(2,002)-(185)7,515
Total current 19,06810,959-(2,204)(5,752)383(3,362)19,050
Thousands of U.S. dollars
12/31/2016AdditionsAdditions from business combination (Note 5)PaymentsReversalTransfersTranslation differences12/31/2017
Non-current
Provisions for liabilities 30,39418,4744,134(6,520)(10,687)(73)(4,912)30,810
Provisions for taxes 21,4471,2862,274-(6,607)2,108(675)19,833
Provisions for dismantling 15,3381,416-(48)(7,382)-(75)9,249
Other provisions 2,716944-(2,382)(2,733)(2,035)4,7841,294
Total non-current 69,89522,1206,408(8,950)(27,409)-(878)61,186
Current
Provisions for liabilities 8,1608,197-(2,479)(104)-(3,231)10,543
Provisions for taxes 1,0064,580----555,641
Provisions for dismantling 2131-6(219)-(1)-
Other provisions 5,339988-(5,181)(15)-1,7542,884
Total current 14,71813,766-(7,654)(338)-(1,423)19,068
v3.19.1
REVENUE AND EXPENSES (Tables)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Analysis of income and expense [abstract]    
Disclosure of revenue [text block]
Thousands of U.S. dollars
2016(*)20172018
Revenue
Services rendered 1,757,4981,921,3111,818,180
Total 1,757,4981,921,3111,818,180
(*) Exclude discontinued operations - Morocco.
 
Disclosure of other operating income [text block]  
Thousands of U.S. dollars
2016(*)20172018
Other operating income
Other operating income (a)3,9915,75515,686
Grants 6738601,000
Income from indemnities and other non-recurring income 87293942
Gain on disposal of data center002,265
Gains on disposal of non-current assets 3448,883384
Total 5,88016,43719,377
(*) Exclude discontinued operations - Morocco.
Disclosure of employee benefits [text block]  
Thousands of U.S. dollars
2016(*)20172018
Employee benefit expenses
Salaries and wages 1,014,8301,076,8101,024,094
Social security120,923131,524130,161
Supplementary pension contributions 2,8482,8612,840
Termination benefits 34,65433,74426,510
Other welfare costs 136,646184,137181,576
Total 1,309,9011,429,0761,365,181
(*) Exclude discontinued operations - Morocco.
Disclosure of depreciation and amortisation expense [text block]  
Thousands of U.S. dollars
2016 (*)20172018
Depreciation and amortization
Intangible assets (Note 6) 50,91655,19558,679
Property, plant and equipment (Note 9) 46,44849,22636,566
Total 97,364104,42195,245
(*) Exclude discontinued operations - Morocco.
Disclosure of products and services [line items]    
Disclosure of other operating expense [text block]
Thousands of U.S. dollars
2016 (*)20172018
Other operating expenses
Services provided by third parties193,213202,146202,543
Losses on disposal of fixed assets 1,43212,989817
Taxes other than income tax 7,49113,58010,038
Other management expenses (*) 11,8797,9332,560
Total 214,015236,648215,958
(*) Exclude discontinued operations - Morocco.
 
Disclosure of finance income (cost) [text block]  
Thousands of U.S. dollars
2016 (*)20172018
Finance income
Interest from third parties and hyperinflationary adjustment in Argentina (a)7,1887,85818,843
Total finance income 7,1887,85818,843
Finance costs
Interest accrued to third parties (b)(75,090)(71,404)(43,351)
Discounts to the present value of provisions and other liabilities(**) 15,939(6,741)(2,261)
Total finance costs(59,151)(78,145)(45,612)
(*) Exclude discontinued operations - Morocco.
(**) The year ended December 31, 2016 contains the impacts of the CVI termination. The interest reversal of 19,936 thousand U.S. dollars was recognized in "Finance costs".
Disclosure of effect of changes in foreign exchange rates [text block]  
Thousands of U.S. dollars2016
GainsLossesNet
Fair value of financial instruments 675-675
Fair value of financial instruments 675-675
Foreign exchange gains/(losses)
Loans and receivables 868(12,200)(11,332)
Other financial transactions12,381(45,784)(33,403)
Current transactions 18,996(30,755)(11,759)
Total 32,245(88,739)(56,494)
(*) Exclude discontinued operations - Morocco.
Thousands of U.S. dollars2017
GainsLossesNet
Fair value of financial instruments 230230
Fair value of financial instruments 230-230
Foreign exchange gains/(losses)
Loans and receivables 38,220(57,187)(18,967)
Other financial transactions16,407(14,405)2,002
Current transactions 8,969(15,431)(6,462)
Total 63,596(87,023)(23,427)
Thousands of U.S. dollars2018
GainsLossesNet
Fair value of financial instruments 179-179
Fair value of financial instruments 179-179
Foreign exchange gains/(losses)
Loans and receivables 2,928(433)2,495
Other financial transactions19,253(29,786)(10,533)
Current transactions 43,845(64,822)(20,977)
Total 66,026(95,041)(29,015)
Third Parties [Member]    
Disclosure of products and services [line items]    
Disclosure of other operating expense [text block]
Thousands of U.S. dollars
2016 (*)20172018
Services provided by third parties
Leases (Note 25b) 63,01466,92367,902
Installation and maintenance 24,23722,79924,290
Lawyers and law firms 5,1986,8877,743
Tax advisory services 302467179
Consultants 8,0568,5788,372
Audits and other related services 2,4932,6771,576
Studies and work performed 76765
Other external professional services 40,66945,95543,404
Publicity, advertising and public relations 6,0895,4585,332
Insurance premiums 207636548
Travel expenses 6,0476,2886,979
Utilities 28,74327,39227,142
Banking and similar services 1,0061,3911,771
Other 7,0766,6887,240
TOTAL 193,213202,146202,543
(*) Exclude discontinued operations - Morocco.
 
Supplies [Member]    
Disclosure of products and services [line items]    
Disclosure of expenses [text block]
Thousands of U.S. dollars
2016 (*)20172018
Supplies
Subcontracted services 29,94026,88510,630
Infrastructure leases (Note 25b)3,37611,88913,856
Purchases of materials 9866282,919
Communications 24,92925,00319,460
Expenses with labor unions1,2041,1561,051
Other 5,1639,33822,900
Total 65,59874,89970,816
(*) Exclude discontinued operations - Morocco.
 
v3.19.1
SEGMENT INFORMATION (Tables)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Disclosure of operating segments [abstract]      
Disclosure of geographical areas [text block]
For the year ended December 31, 2018
Thousands of U.S. dollars
EMEAAmericasBrazilOther and eliminationsTotal Group
Sales to other companies93,173388,889609,307(1)1,091,368
Sales to Telefónica Group 147,686293,945266,596-708,227
Sales to other group companies-25,9101,756(9,082)18,584
Other operating income and expense(228,591)(652,531)(794,148)41,843(1,633,427)
EBITDA 12,26856,21383,51132,760184,752
Depreciation and amortization(9,733)(34,683)(50,376)(453)(95,245)
Operating profit/(loss)2,53521,53033,13532,30789,507
Net finance expense(1,620)(5,536)(30,309)(18,140)(55,605)
Income tax(893)(2,054)(1,422)(9,046)(13,415)
Profit/(loss) for the year2213,9401,4045,12120,487
EBITDA12,26856,21383,51132,760184,752
Adjusted EBITDA (unaudited)12,26856,21383,51132,760184,752
Capital expenditure6,19241,46642,226189,885
Intangible, Goodwill and PP&E42,766195,369251,520476490,131
Allocated assets394,325557,695595,807(334,475)1,213,352
Allocated liabilities122,784254,150437,20059,126873,260
For the year ended December 31, 2017
Thousands of U.S. dollars
EMEAAmericasBrazilOther and eliminationsTotal Group
Sales to other companies80,020435,195652,696 -1,167,911
Sales to Telefónica Group 143,424317,849292,110(1)753,382
Sales to other group companies14,997 -(4,980)18
Other operating income and expense(215,860)(688,949)(832,377)12,745(1,724,441)
EBITDA 7,58569,092112,4297,764196,870
Depreciation and amortization(9,340)(37,640)(56,908)(533)(104,421)
Operating profit/(loss)(1,755)31,45255,5217,23192,449
Net finance expense(16,834)(13,206)(33,038)(30,406)(93,484)
Income tax5,031(9,667)(8,822)925(12,533)
Profit/(loss) for the year(13,558)8,57913,661(22,250)(13,568)
EBITDA7,58569,092112,4297,764196,870
Restructuring costs3,8318,4734,01146416,779
Other1154,2081192,8757,317
Shared services expenses3,2591,7348,155(13,148) -
Adjusted EBITDA (unaudited)14,79083,507124,714(2,045)220,966
Capital expenditure3,94824,50338,82525967,535
Intangible, Goodwill and PP&E49,101178,485306,6721,185535,443
Allocated assets401,332603,770677,149(351,946)1,330,305
Allocated liabilities126,575280,575499,67045,646952,466
For the year ended December 31, 2016
Thousands of U.S. dollars
EMEA (*)AmericasBrazilOther and eliminationsTotal Group
Sales to other companies72,750394,961542,95311,010,665
Sales to Telefónica Group 151,176322,237273,420 - 746,833
Sales to other group companies41,718 - (1,722) -
Other operating income and expense(220,645)(596,963)(717,683)(8,497)(1,543,788)
EBITDA 3,285121,95398,690(10,218)213,710
Depreciation and amortization(10,712)(33,757)(52,356)(539)(97,364)
Operating profit/(loss)(7,427)88,19646,334(10,757)116,346
Net finance expense(12,319)(31,092)(40,074)(24,297)(107,782)
Income tax4,933(15,823)(3,070)8,753(5,207)
Profit/(loss) from continuing operations(14,813)41,2813,190(26,301)3,357
Profit/(loss) from discontinued operations(3,206) - - -(3,206)
Profit/(loss) for the year(18,019)41,2813,190(26,301)151
EBITDA3,285121,95398,690(10,218)213,710
Restructuring costs10,39010,56210,9941,70033,646
Site relocation costs181689,137-9,323
Asset impairments and Other2,709(40,668)2,1311,011(34,817)
Adjusted EBITDA (unaudited)16,40292,015-120,952-(7,507)-221,862
Capital expenditure2,12423,04223,000 - 48,166
Intangible, Goodwill and PP&E48,342189,036298,9201,540537,838
Allocated assets396,298558,657677,794(255,131)1,377,618
Allocated liabilities272,082259,352490,172(74,191)947,415
(*) Exclude discontinued operations - Morocco.
Disclosure of major customers [text block]
For the year ended December 31,
201620172018
Country
Spain 223,956223,445240,859
Other and eliminations (*)(25)(1)-
EMEA 223,931223,444240,859
Argentina 119,589142,473134,557
Chile 80,10697,196112,679
Colombia 61,04275,37371,219
El Salvador 16,74112,52714,260
United States 36,96848,34150,001
Guatemala 15,77116,73216,195
Mexico 199,634178,537177,595
Peru 151,755151,681136,266
Puerto Rico 14,62910,1569,439
Uruguay 3,4753,1842,866
Panama 4,9904,4664,095
Other and eliminations (*)14,21717,375(20,428)
Americas 718,917758,041708,744
Brazil 816,373944,806877,661
Other and eliminations (*)(1,723)(4,980)(9,084)
Total revenue1,757,4981,921,3111,818,180
   
v3.19.1
EARNINGS/(LOSS) PER SHARE (Tables)
12 Months Ended
Dec. 31, 2018
Earnings per share [abstract]  
Earnings per share [text block]
Thousands of U.S. dollars
2016 (*)20172018
Result attributable to equity owners of the Company
Atento's profit/(loss) attributable to equity owners of the parent from continuing operations (in thousands of U.S. dollars)3,357(13,568)20,486
Atento’s loss attributable to equity owners of the parent from discontinued operations (in thousands of U.S. dollars)(3,206)--
Weigthed average number of ordinary shares73,816,93373,909,05673,841,447
Basic earnings/(loss) per share from continuing operations (in U.S. dollars)0.05(0.18)0.28
Basic loss per share from discontinued operations (in U.S. dollars)(0.04)--

Thousands of U.S. dollars
2016 (*)20172018
Result attributable to equity owners of the Company
Atento’s profit/(loss) attributable to equity owners of the parent from continuing operations (in thousands of U.S. dollars) (1)3,357(13,568)20,486
Atento’s loss attributable to equity owners of the parent from discontinued operations (in thousands of U.S. dollars) (1)(3,206)--
Potential increase in number of ordinary shares outstanding in respect of share-based plan272,791-936,616
Adjusted weighted average number of ordinary shares74,089,72473,909,05674,778,063
Diluted earnings/(loss) per share from continuing operations (in U.S. dollars)0.05(0.18)0.28
Diluted loss per share from discontinued operations (in U.S. dollars)(0.04)--
v3.19.1
COMMITMENTS (Tables)
12 Months Ended
Dec. 31, 2018
Disclosure of commitments [abstract]  
Disclosure of information about liquidity arrangements, guarantees or other commitments with third parties that may affect fair value or risk of interests in structured entities [text block]
Thousands of U.S. dollars
20172018
Guarantees
Financial, labor-related, tax and rental transactions 156,579125,422
Contractual obligations 165,624257,844
Other 3020
Total 322,233383,286
Disclosure of finance lease and operating lease by lessee [text block]
Thousands of U.S. dollars
Net carrying amount of asset
20172018
Finance leases
Furniture, tools and other tangible assets 6,6194,815
Plant and machinery1,847983
Total 8,4665,798

Thousands of U.S. dollars
20172018
Up to 1 year 63,17841,217
Between 1 and 5 years 124,91381,735
More than 5 years 52,02130,376
Total 240,112153,328
v3.19.1
RELATED PARTIES (Tables)
12 Months Ended
Dec. 31, 2018
Disclosure of transactions between related parties [abstract]  
Disclosure of transactions between related parties [text block]
Thousands of U.S. dollars
201620172018
Salaries and variable remuneration 3,8264,37410,703
Salaries 3,8263,3039,524
Variable remuneration 01,0711,179
Payment in kind 9808581,116
Medical insurance 117138206
Life insurance premiums 272844
Other 836692866
Total 4,8065,23211,819
v3.19.1
BASIS OF PRESENTATION OF THE CONSOLIDATED FINANCIAL STATEMENTS - BUSINESS COMBINATIONS (Details)
Sep. 02, 2016
R Brasil Solucoes S.A. [member]  
Disclosure of detailed information about business combination [line items]  
Percentage of voting equity interests acquired 8149.00%
v3.19.1
BASIS OF PRESENTATION OF THE CONSOLIDATED FINANCIAL STATEMENTS - OPERATING SEGMENTS (Details)
9 Months Ended
Sep. 30, 2016
Atento Morocco [member]  
Disclosure Of Operating Segments [Line Items]  
Proportion of ownership interest in subsidiary 100.00%
v3.19.1
ACCOUNTING POLICIES - INTANGIBLES (Details)
12 Months Ended
Dec. 31, 2018
Computer software [member] | Bottom of range [member]  
Disclosure of detailed information about intangible assets [line items]  
Useful lives, intangible assets other than goodwill 3
Computer software [member] | Top of range [member]  
Disclosure of detailed information about intangible assets [line items]  
Useful lives, intangible assets other than goodwill 10
Other intangible assets [member] | Bottom of range [member]  
Disclosure of detailed information about intangible assets [line items]  
Useful lives, intangible assets other than goodwill 4
Other intangible assets [member] | Top of range [member]  
Disclosure of detailed information about intangible assets [line items]  
Useful lives, intangible assets other than goodwill 10
v3.19.1
ACCOUNTING POLICIES - PPE (Details)
12 Months Ended
Dec. 31, 2018
Buildings [member]  
Disclosure of detailed information about property, plant and equipment [line items]  
Useful lives, property, plant and equipment, years 5 - 40
Leasehold improvements [member]  
Disclosure of detailed information about property, plant and equipment [line items]  
Useful lives, property, plant and equipment, years 5 - 40
Plant and equipment [member]  
Disclosure of detailed information about property, plant and equipment [line items]  
Useful lives, property, plant and equipment, years 3 - 6
Fixtures and fittings [member]  
Disclosure of detailed information about property, plant and equipment [line items]  
Useful lives, property, plant and equipment, years 1 - 10
Communication and network equipment [member]  
Disclosure of detailed information about property, plant and equipment [line items]  
Useful lives, property, plant and equipment, years 0
Vehicles [member]  
Disclosure of detailed information about property, plant and equipment [line items]  
Useful lives, property, plant and equipment, years 0
Other property, plant and equipment [member]  
Disclosure of detailed information about property, plant and equipment [line items]  
Useful lives, property, plant and equipment, years 5 - 8
v3.19.1
ACCOUNTING POLICIES - SHARE-BASED (Details)
6 Months Ended 11 Months Ended 12 Months Ended
Jul. 02, 2018
Jul. 03, 2017
Jul. 01, 2016
Dec. 03, 2014
Dec. 31, 2018
Restricted Stocks Units [member]          
Disclosure of terms and conditions of share-based payment arrangement [line items]          
Number of instruments granted in share-based payment arrangement 1 1 2 2 6
v3.19.1
ACCOUNTING POLICIES - VOTING POWER (Details) - USD ($)
$ in Thousands
Dec. 31, 2018
Dec. 31, 2017
Disclosure of subsidiaries [line items]    
Minimum lease payments payable under non-cancellable operating lease $ 153,328 $ 240,112
v3.19.1
ACCOUNTING POLICIES - SUBSIDIARIES (Details)
12 Months Ended
Dec. 31, 2018
Atento Luxco 1, S.A. [member]  
Disclosure of subsidiaries [line items]  
Country of incorporation of subsidiary Luxembourg
Description of nature of entity's operations and principal activities Holding company
Proportion of ownership interest in subsidiary 100.00%
Name of parent entity Atento Luxco Midco, S.à.r.l
Atalaya Luxco 2. S.a.r.l. [member]  
Disclosure of subsidiaries [line items]  
Country of incorporation of subsidiary Luxembourg
Description of nature of entity's operations and principal activities Holding company
Proportion of ownership interest in subsidiary 100.00%
Name of parent entity Atento Luxco 1. S.A.
Atalaya Luxco 3. S.a.r.l. [member]  
Disclosure of subsidiaries [line items]  
Country of incorporation of subsidiary Luxembourg
Description of nature of entity's operations and principal activities Holding company
Proportion of ownership interest in subsidiary 100.00%
Name of parent entity Atento Luxco 1. S.A.
Atalaya Luxco Midco, S.a.r.l. [member]  
Disclosure of subsidiaries [line items]  
Country of incorporation of subsidiary Luxembourg
Description of nature of entity's operations and principal activities Holding company
Proportion of ownership interest in subsidiary 100.00%
Name of parent entity Atento S.A.
Atento Argentina. S.A [member]  
Disclosure of subsidiaries [line items]  
Country of incorporation of subsidiary Buenos Aires (Argentina)
Description of nature of entity's operations and principal activities Operation of call centers
Proportion of ownership interest in subsidiary 90.00%
Name of parent entity Atalaya Luxco 2. S.à.r.l.
Atento Argentina. S.A Atalaya Luxco 3 [member]  
Disclosure of subsidiaries [line items]  
Country of incorporation of subsidiary Buenos Aires (Argentina)
Description of nature of entity's operations and principal activities Operation of call centers
Proportion of ownership interest in subsidiary 10.00%
Name of parent entity Atalaya Luxco 3. S.à.r.l.
Global Rossolimo. S.L.U [member]  
Disclosure of subsidiaries [line items]  
Country of incorporation of subsidiary Madrid (Spain)
Description of nature of entity's operations and principal activities Holding company
Proportion of ownership interest in subsidiary 100.00%
Name of parent entity Atento Spain Holdco. S.L.U.
Atento Spain Holdco. S.L.U [member]  
Disclosure of subsidiaries [line items]  
Country of incorporation of subsidiary Madrid (Spain)
Description of nature of entity's operations and principal activities Holding company
Proportion of ownership interest in subsidiary 100.00%
Name of parent entity Atento Luxco 1. S.A.
Atento Spain Holdco 6. S.L.U [member]  
Disclosure of subsidiaries [line items]  
Country of incorporation of subsidiary Madrid (Spain)
Description of nature of entity's operations and principal activities Holding company
Proportion of ownership interest in subsidiary 100.00%
Name of parent entity Atento Spain Holdco. S.L.U.
Atento Spain Holdco 2. S.A.U [member]  
Disclosure of subsidiaries [line items]  
Country of incorporation of subsidiary Madrid (Spain)
Description of nature of entity's operations and principal activities Holding company
Proportion of ownership interest in subsidiary 100.00%
Name of parent entity Atento Spain Holdco 6. S.L.U.
Atento Teleservicios Espana S.A.U. [member]  
Disclosure of subsidiaries [line items]  
Country of incorporation of subsidiary Madrid (Spain)
Description of nature of entity's operations and principal activities Operation of call centers
Proportion of ownership interest in subsidiary 100.00%
Name of parent entity Atento Spain Holdco 2. S.A.U.
Atento Servicios Tecnicos y Consultoria S.A.U [member]  
Disclosure of subsidiaries [line items]  
Country of incorporation of subsidiary Madrid (Spain)
Description of nature of entity's operations and principal activities Execution of technological projects and services, and consultancy services
Proportion of ownership interest in subsidiary 100.00%
Name of parent entity Atento Teleservicios España S.A.U.
Atento Impulsa. S.A.U [member]  
Disclosure of subsidiaries [line items]  
Country of incorporation of subsidiary Barcelona (Spain)
Description of nature of entity's operations and principal activities Management of specialized employment centers for disabled workers
Proportion of ownership interest in subsidiary 100.00%
Name of parent entity Atento Teleservicios España S.A.U.
Atento Servicios Auxiliares de Contact Center. S.A.U [member]  
Disclosure of subsidiaries [line items]  
Country of incorporation of subsidiary Madrid (Spain)
Description of nature of entity's operations and principal activities Execution of technological projects and services, and consultancy services
Proportion of ownership interest in subsidiary 100.00%
Name of parent entity Atento Teleservicios España. S.A.U.
Atento B V [member]  
Disclosure of subsidiaries [line items]  
Country of incorporation of subsidiary Amsterdam (Netherlands)
Description of nature of entity's operations and principal activities Holding company
Proportion of ownership interest in subsidiary 100.00%
Name of parent entity Atento Spain Holdco 2. S.A.U.
Teleatento del Peru. S.A.C Atento Holding Chile. S.A. [member]  
Disclosure of subsidiaries [line items]  
Country of incorporation of subsidiary Lima (Peru)
Description of nature of entity's operations and principal activities Operation of call centers
Proportion of ownership interest in subsidiary 16.6667%
Name of parent entity Atento Holding Chile. S.A.
Teleatento del Peru. S.A.C [member]  
Disclosure of subsidiaries [line items]  
Country of incorporation of subsidiary Lima (Peru)
Description of nature of entity's operations and principal activities Operation of call centers
Proportion of ownership interest in subsidiary 83.3333%
Name of parent entity Atento B.V.
Woknal. S.A. [member]  
Disclosure of subsidiaries [line items]  
Country of incorporation of subsidiary Montevideo (Uruguay)
Description of nature of entity's operations and principal activities Operation of call centers
Proportion of ownership interest in subsidiary 100.00%
Name of parent entity Atento B.V.
Atento Colombia. S.A. [member]  
Disclosure of subsidiaries [line items]  
Country of incorporation of subsidiary Bogotá DC (Colombia)
Description of nature of entity's operations and principal activities Operation of call centers
Proportion of ownership interest in subsidiary 94.97871%
Name of parent entity Atento B.V.
Atento Holding Chile. S.A. [member]  
Disclosure of subsidiaries [line items]  
Country of incorporation of subsidiary Santiago de Chile (Chile)
Description of nature of entity's operations and principal activities Holding company
Proportion of ownership interest in subsidiary 99.9999%
Name of parent entity Atento B.V.
Atento Holding Chile. S.A. Atento Spain Holdco 2 [member]  
Disclosure of subsidiaries [line items]  
Country of incorporation of subsidiary Santiago de Chile (Chile)
Description of nature of entity's operations and principal activities Holding company
Proportion of ownership interest in subsidiary 0.0001%
Name of parent entity Atento Spain Holdco 2
Atento Educacion Limitada [member]  
Disclosure of subsidiaries [line items]  
Country of incorporation of subsidiary Santiago de Chile (Chile)
Description of nature of entity's operations and principal activities Operation of call centers
Proportion of ownership interest in subsidiary 99.00%
Name of parent entity Atento Chile. S.A.
Atento Educacion Limitada Atento Holding Chile. S.A. [member]  
Disclosure of subsidiaries [line items]  
Country of incorporation of subsidiary Santiago de Chile (Chile)
Description of nature of entity's operations and principal activities Operation of call centers
Proportion of ownership interest in subsidiary 1.00%
Name of parent entity Atento Holding Chile. S.A.
Atento Colombia. S.A. Atento Servicios Auxiliares de Contact Center. S.L.U. [member]  
Disclosure of subsidiaries [line items]  
Country of incorporation of subsidiary Bogotá DC (Colombia)
Description of nature of entity's operations and principal activities Operation of call centers
Proportion of ownership interest in subsidiary 0.00424%
Name of parent entity Atento Servicios Auxiliares de Contact Center. S.L.U.
Atento Colombia. S.A. Atento Servicios Tecnicos y Consultoria. S.L.U. [member]  
Disclosure of subsidiaries [line items]  
Country of incorporation of subsidiary Bogotá DC (Colombia)
Description of nature of entity's operations and principal activities Operation of call centers
Proportion of ownership interest in subsidiary 0.00854%
Name of parent entity Atento Servicios Técnicos y Consultoría. S.L.U.
Atento Colombia. S.A. Atento Teleservicios Espana. S.A.U. [member]  
Disclosure of subsidiaries [line items]  
Country of incorporation of subsidiary Bogotá DC (Colombia)
Description of nature of entity's operations and principal activities Operation of call centers
Proportion of ownership interest in subsidiary 5.00427%
Name of parent entity Atento Teleservicios España. S.A.U.
Atento Colombia. S.A. Teleatento del Peru SAC. [member]  
Disclosure of subsidiaries [line items]  
Country of incorporation of subsidiary Bogotá DC (Colombia)
Description of nature of entity's operations and principal activities Operation of call centers
Proportion of ownership interest in subsidiary 0.00424%
Name of parent entity Teleatento del Perú SAC.
Atento Centro de Formacion Tecnica [member]  
Disclosure of subsidiaries [line items]  
Country of incorporation of subsidiary Santiago de Chile (Chile)
Description of nature of entity's operations and principal activities Operation of call centers
Proportion of ownership interest in subsidiary 99.00%
Name of parent entity Atento Chile. S.A.
Atento Centro de Formacion Tecnica Atento Holding Chile. S.A. [member]  
Disclosure of subsidiaries [line items]  
Country of incorporation of subsidiary Santiago de Chile (Chile)
Description of nature of entity's operations and principal activities Operation of call centers
Proportion of ownership interest in subsidiary 1.00%
Name of parent entity Atento Holding Chile. S.A.
Atento Spain Holdco 4. S.A.U [member]  
Disclosure of subsidiaries [line items]  
Country of incorporation of subsidiary Madrid (Spain)
Description of nature of entity's operations and principal activities Holding company
Proportion of ownership interest in subsidiary 100.00%
Name of parent entity Atento Spain Holdco. S.L.U.
Atento Brasil S.A. [member]  
Disclosure of subsidiaries [line items]  
Country of incorporation of subsidiary São Paulo (Brazil)
Description of nature of entity's operations and principal activities Operation of call centers
Proportion of ownership interest in subsidiary 99.999%
Name of parent entity Atento Spain Holdco 4. S.A.U.
Atento Brasil SA Atento Spain Holdco SLU [Member]  
Disclosure of subsidiaries [line items]  
Country of incorporation of subsidiary São Paulo (Brazil)
Description of nature of entity's operations and principal activities Operation of call centers
Proportion of ownership interest in subsidiary 0.001%
Name of parent entity Atento Spain Holdco. S.L.U.
R Brasil Solucoes S.A. [member]  
Disclosure of subsidiaries [line items]  
Country of incorporation of subsidiary São Paulo (Brazil)
Description of nature of entity's operations and principal activities Operation of call centers
Proportion of ownership interest in subsidiary 81.4885%
Name of parent entity Atento Brasil. S.A.
R Brasil Solucoes S.A. Flavio Luiz Rossetto [member]  
Disclosure of subsidiaries [line items]  
Country of incorporation of subsidiary São Paulo (Brazil)
Description of nature of entity's operations and principal activities Operation of call centers
Name of parent entity  
R Brasil Solucoes S.A. Jorge Luiz Rossetto [member]  
Disclosure of subsidiaries [line items]  
Country of incorporation of subsidiary São Paulo (Brazil)
Description of nature of entity's operations and principal activities Operation of call centers
Name of parent entity  
Atento Spain Holdco 5. S.L.U [member]  
Disclosure of subsidiaries [line items]  
Country of incorporation of subsidiary Madrid (Spain)
Description of nature of entity's operations and principal activities Holding company
Proportion of ownership interest in subsidiary 100.00%
Name of parent entity Atento Spain Holdco. S.L.U.
Atento Mexico Holdco S. de R.L. de [member]  
Disclosure of subsidiaries [line items]  
Country of incorporation of subsidiary Atento Mexico Holdco S. de R.L. de C.V.
Description of nature of entity's operations and principal activities Mexico
Proportion of ownership interest in subsidiary 99.966%
Name of parent entity Atento Spain Holdco 5. S.L.U.
Atento Mexico Holdco S. de R.L. de C.V. Atento Spain Holdco. S.L.U. [member]  
Disclosure of subsidiaries [line items]  
Country of incorporation of subsidiary Atento Mexico Holdco S. de R.L. de C.V.
Description of nature of entity's operations and principal activities Mexico
Proportion of ownership interest in subsidiary 0.004%
Name of parent entity Atento Spain Holdco. S.L.U.
Atento Puerto Rico. Inc. [member]  
Disclosure of subsidiaries [line items]  
Country of incorporation of subsidiary Guaynabo (Puerto Rico)
Description of nature of entity's operations and principal activities Operation of call centers
Proportion of ownership interest in subsidiary 100.00%
Name of parent entity Atento Mexico Holdco S. de R.L. de C.V.
Contact US Teleservices Inc. [member]  
Disclosure of subsidiaries [line items]  
Country of incorporation of subsidiary Houston, Texas (USA)
Description of nature of entity's operations and principal activities Operation of call centers
Proportion of ownership interest in subsidiary 100.00%
Name of parent entity Atento Mexico Holdco S. de R.L. de C.V.
Atento Panama. S.A. [member]  
Disclosure of subsidiaries [line items]  
Country of incorporation of subsidiary Panama City
Description of nature of entity's operations and principal activities Operation of call centers
Proportion of ownership interest in subsidiary 100.00%
Name of parent entity Atento Mexico Holdco S. de R.L. de C.V.
Atento Atencion y Servicios. S.A. de C.V. [member]  
Disclosure of subsidiaries [line items]  
Country of incorporation of subsidiary Mexico City (Mexico)
Description of nature of entity's operations and principal activities Administrative, professional and consultancy services
Proportion of ownership interest in subsidiary 99.998%
Name of parent entity Atento Mexico Holdco S. de R.L. de C.V.
Atento Atencion y Servicios. S.A. de C.V. Atento Servicios. S.A. de C.V. [member]  
Disclosure of subsidiaries [line items]  
Country of incorporation of subsidiary Mexico City (Mexico)
Description of nature of entity's operations and principal activities Administrative, professional and consultancy services
Proportion of ownership interest in subsidiary 0.002%
Name of parent entity Atento Servicios. S.A. de C.V.
Atento Servicios. S.A. de C.V. [member]  
Disclosure of subsidiaries [line items]  
Country of incorporation of subsidiary Mexico City (Mexico)
Description of nature of entity's operations and principal activities Sale of goods and services
Proportion of ownership interest in subsidiary 99.998%
Name of parent entity Atento Mexico Holdco S. de R.L. de C.V.
Atento Servicios. S.A. de C.V. Atento Atencion y Servicios. S.A. de C.V. [member]  
Disclosure of subsidiaries [line items]  
Country of incorporation of subsidiary Mexico City (Mexico)
Description of nature of entity's operations and principal activities Sale of goods and services
Proportion of ownership interest in subsidiary 0.002%
Name of parent entity Atento Atención y Servicios. S.A. de C.V.
Atento Centroamerica. S.A. [member]  
Disclosure of subsidiaries [line items]  
Country of incorporation of subsidiary Guatemala (Guatemala)
Description of nature of entity's operations and principal activities Holding company
Proportion of ownership interest in subsidiary 99.9999%
Name of parent entity Atento Mexico Holdco S. de R.L. de C.V.
Atento Centroamerica. S.A. Atento El Salvador S.A. de C.V. [member]  
Disclosure of subsidiaries [line items]  
Country of incorporation of subsidiary Guatemala (Guatemala)
Description of nature of entity's operations and principal activities Holding company
Proportion of ownership interest in subsidiary 0.0001%
Name of parent entity Atento El Salvador S.A. de C.V.
Atento de Guatemala. S.A. [member]  
Disclosure of subsidiaries [line items]  
Country of incorporation of subsidiary Guatemala (Guatemala)
Description of nature of entity's operations and principal activities Operation of call centers
Proportion of ownership interest in subsidiary 99.99999%
Name of parent entity Atento Centroamérica. S.A.
Atento de Guatemala. S.A. Atento El Salvador S.A. de C.V. [member]  
Disclosure of subsidiaries [line items]  
Country of incorporation of subsidiary Guatemala (Guatemala)
Description of nature of entity's operations and principal activities Operation of call centers
Proportion of ownership interest in subsidiary 0.00001%
Name of parent entity Atento El Salvador S.A. de C.V.
Atento El Salvador. S.A. de C.V. [member]  
Disclosure of subsidiaries [line items]  
Country of incorporation of subsidiary City of San Salvador (El Salvador)
Description of nature of entity's operations and principal activities Operation of call centers
Proportion of ownership interest in subsidiary 92.5946%
Name of parent entity Atento de Guatemala. S.A.
Atento Chile. S.A. Atento Bv [member]  
Disclosure of subsidiaries [line items]  
Country of incorporation of subsidiary Santiago de Chile (Chile)
Description of nature of entity's operations and principal activities Operation of call centers
Proportion of ownership interest in subsidiary 0.01%
Name of parent entity Atento B.V.
Atento El Salvador. S.A. de C.V. Atento Centroamerica. S.A. [member]  
Disclosure of subsidiaries [line items]  
Country of incorporation of subsidiary City of San Salvador (El Salvador)
Description of nature of entity's operations and principal activities Operation of call centers
Proportion of ownership interest in subsidiary 7.4054%
Name of parent entity Atento Centroamerica. S.A.
Atento Nicaragua S.A [member]  
Disclosure of subsidiaries [line items]  
Country of incorporation of subsidiary Nicaragua
Description of nature of entity's operations and principal activities Operation of call centers
Proportion of ownership interest in subsidiary 95.65%
Name of parent entity Atento Mexico Holdco S. de R.L. de C.V.
Atento Nicaragua S.A Atento Centroamerica. S.A. [member]  
Disclosure of subsidiaries [line items]  
Country of incorporation of subsidiary Nicaragua
Description of nature of entity's operations and principal activities Operation of call centers
Proportion of ownership interest in subsidiary 4.35%
Name of parent entity Atento Centroamerica. S.A.
Atento Chile. S.A. [member]  
Disclosure of subsidiaries [line items]  
Country of incorporation of subsidiary Santiago de Chile (Chile)
Description of nature of entity's operations and principal activities Operation of call centers
Proportion of ownership interest in subsidiary 99.99%
Name of parent entity Atento Holding Chile. S.A.
Interservicer - Servicos de BPO Ltda [Member]  
Disclosure of subsidiaries [line items]  
Country of incorporation of subsidiary São Paulo (Brasil)
Description of nature of entity's operations and principal activities Operation of call centers
Proportion of ownership interest in subsidiary 50.00002%
Name of parent entity Nova Interfile e Holding Ltda.
Interfile Servicos De BPO Ltda [Member]  
Disclosure of subsidiaries [line items]  
Country of incorporation of subsidiary São Paulo (Brasil)
Description of nature of entity's operations and principal activities Operation of call centers
Proportion of ownership interest in subsidiary 50.00002%
Name of parent entity Nova Interfile e Holding Ltda.
Atento Costa Rica S.A Atento Centroamerica. S.A. [member]  
Disclosure of subsidiaries [line items]  
Country of incorporation of subsidiary Costa Rica
Description of nature of entity's operations and principal activities Operation of call centers
Proportion of ownership interest in subsidiary 0.0001%
Name of parent entity Atento Centroamerica. S.A.
Atento Costa Rica S.A [member]  
Disclosure of subsidiaries [line items]  
Country of incorporation of subsidiary Costa Rica
Description of nature of entity's operations and principal activities Operation of call centers
Proportion of ownership interest in subsidiary 99.999%
Name of parent entity Atento Mexico Holdco S. de R.L. de C.V.
Nova Interfile Holding [Member]  
Disclosure of subsidiaries [line items]  
Country of incorporation of subsidiary São Paulo (Brasil)
Description of nature of entity's operations and principal activities Holding company
Proportion of ownership interest in subsidiary 100.00%
Name of parent entity Atento Brasil. S.A.
v3.19.1
MANAGEMENT OF FINANCIAL RISK - BRAZILIAN DEBENTURES (Details) - USD ($)
Dec. 31, 2018
Dec. 31, 2017
Disclosure of risk management strategy related to hedge accounting [line items]    
Financial debt with third parties bearing interests at variable rates, percentage 7.40% 12.80%
Brazilian Debentures [member]    
Disclosure of risk management strategy related to hedge accounting [line items]    
Financial instruments designated as hedging instruments, at fair value $ 0 $ 1,200,000
v3.19.1
MANAGEMENT OF FINANCIAL RISK - SENIOR SECURED NOTES (Details) - USD ($)
Dec. 31, 2018
Dec. 31, 2017
Brazilian Debentures [member]    
Disclosure of risk management strategy related to hedge accounting [line items]    
Financial instruments designated as hedging instruments, at fair value $ 0 $ 1,200,000
Currency swap contract [member]    
Disclosure of risk management strategy related to hedge accounting [line items]    
Financial instruments designated as hedging instruments, at fair value 10,600,000  
Financial assets   $ 3,000,000
Interest rate risk [member] | Interest rate swap contract [member]    
Disclosure of risk management strategy related to hedge accounting [line items]    
Financial instruments designated as hedging instruments, at fair value $ (1,212,000)  
v3.19.1
MANAGEMENT OF FINANCIAL RISK - INTEREST RATE (Details)
$ in Thousands
Dec. 31, 2018
USD ($)
Interest rate swap contract [member] | Interest rate risk [member]  
Disclosure of risk management strategy related to hedge accounting [line items]  
Financial instruments designated as hedging instruments, at fair value $ (1,212)
Interest rate swap contract [member] | Top of range [member] | Interest rate risk [member]  
Disclosure of risk management strategy related to hedge accounting [line items]  
Financial instruments designated as hedging instruments, at fair value $ (1,174)
Interest rate swap contract [member] | Top of range [member] | Currency risk [member]  
Disclosure of risk management strategy related to hedge accounting [line items]  
Percentage of reasonably possible change, market risk [Concept] 0.001%
Interest rate swap contract [member] | Bottom of range [member] | Interest rate risk [member]  
Disclosure of risk management strategy related to hedge accounting [line items]  
Financial instruments designated as hedging instruments, at fair value $ (1,248)
Interest rate swap contract [member] | Bottom of range [member] | Currency risk [member]  
Disclosure of risk management strategy related to hedge accounting [line items]  
Percentage of reasonably possible change, market risk [Concept] (0.001%)
Currency swap contract [member] | Top of range [member] | Currency risk [member]  
Disclosure of risk management strategy related to hedge accounting [line items]  
Financial instruments designated as hedging instruments, at fair value $ (3,522)
Percentage of reasonably possible change, market risk [Concept] 0.001%
Currency swap contract [member] | Bottom of range [member] | Currency risk [member]  
Disclosure of risk management strategy related to hedge accounting [line items]  
Financial instruments designated as hedging instruments, at fair value $ 862
Percentage of reasonably possible change, market risk [Concept] (0.001%)
v3.19.1
MANAGEMENT OF FINANCIAL RISK - FOREIGN CURRENCY RISK (Details)
€ in Thousands, د.م. in Thousands, S/ in Thousands, R$ in Thousands, Q in Thousands, $ in Thousands, $ in Thousands
Dec. 31, 2018
BRL (R$)
Dec. 31, 2018
CLP ($)
Dec. 31, 2018
COP ($)
Dec. 31, 2018
EUR (€)
Dec. 31, 2018
GTQ (Q)
Dec. 31, 2018
MAD (د.م.)
Dec. 31, 2018
MXN ($)
Dec. 31, 2018
PEN (S/)
Dec. 31, 2018
USD ($)
Dec. 31, 2017
BRL (R$)
Dec. 31, 2017
CLP ($)
Dec. 31, 2017
COP ($)
Dec. 31, 2017
EUR (€)
Dec. 31, 2017
GTQ (Q)
Dec. 31, 2017
MAD (د.م.)
Dec. 31, 2017
MXN ($)
Dec. 31, 2017
PEN (S/)
Dec. 31, 2017
USD ($)
Dec. 31, 2016
BRL (R$)
Dec. 31, 2016
CLP ($)
Dec. 31, 2016
COP ($)
Dec. 31, 2016
EUR (€)
Dec. 31, 2016
GTQ (Q)
Dec. 31, 2016
MAD (د.م.)
Dec. 31, 2016
MXN ($)
Dec. 31, 2016
PEN (S/)
Dec. 31, 2016
USD ($)
Euro to Colombian Pesos [Member]                                                      
Disclosure of risk management strategy related to hedge accounting [line items]                                                      
Financial assets at fair value through profit or loss                 $ 0                 $ 34,000                 $ 45,000
Financial liabilities at fair value through profit or loss                 $ 0                 $ 0                 $ 0
% Appreciation of asset and liability currency versus the functional currency 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%
Appreciation of asset and liability currency versus the functional currency 33.49 33.49 33.49 33.49 33.49 33.49 33.49 33.49 33.49 3,220.84008 3,220.84008 3,220.84008 3,220.84008 3,220.84008 3,220.84008 3,220.84008 3,220.84008 3,220.84008 2,846.7435699 2,846.7435699 2,846.7435699 2,846.7435699 2,846.7435699 2,846.7435699 2,846.7435699 2,846.7435699 2,846.7435699
Euro to Colombian Pesos [Member] | Functional currency [member]                                                      
Disclosure of risk management strategy related to hedge accounting [line items]                                                      
Financial assets | €       € 0                 € 253                 € 244          
Financial liabilities | €       € 0                                   0          
Appreciation of financial assets in functional currency                 $ 0       281                 287          
Appreciation of financial liabilities in functional currency                 0       € 0                 € 0          
Euro to Colombian Pesos [Member] | Asset currency [member]                                                      
Disclosure of risk management strategy related to hedge accounting [line items]                                                      
Financial assets                 0   $ 904,880,000             $ 303,000   $ 817,344,000             $ 272,000
Euro to Colombian Pesos [Member] | Liability Currency [Member]                                                      
Disclosure of risk management strategy related to hedge accounting [line items]                                                      
Financial liabilities     $ 0                                   $ 0           0
Euro to Dirham Moroccan [Member]                                                      
Disclosure of risk management strategy related to hedge accounting [line items]                                                      
Financial assets at fair value through profit or loss                 52,000                 70,000                 47,000
Financial liabilities at fair value through profit or loss                 $ 0                 $ 0                 $ 0
% Appreciation of asset and liability currency versus the functional currency 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%
Appreciation of asset and liability currency versus the functional currency 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 10.1000968 10.1000968 10.1000968 10.1000968 10.1000968 10.1000968 10.1000968 10.1000968 10.1000968 9.6064349 9.6064349 9.6064349 9.6064349 9.6064349 9.6064349 9.6064349 9.6064349 9.6064349
Euro to Dirham Moroccan [Member] | Functional currency [member]                                                      
Disclosure of risk management strategy related to hedge accounting [line items]                                                      
Financial assets | €       € 668                 € 527                 € 252          
Financial liabilities | €       € 0                                   0          
Appreciation of financial assets in functional currency                 $ 713,000       586                 297          
Appreciation of financial liabilities in functional currency                 0       € 0                 € 0          
Euro to Dirham Moroccan [Member] | Asset currency [member]                                                      
Disclosure of risk management strategy related to hedge accounting [line items]                                                      
Financial assets                 764,000           د.م. 5,915     $ 632,000           د.م. 2,848     $ 281,000
Euro to Dirham Moroccan [Member] | Liability Currency [Member]                                                      
Disclosure of risk management strategy related to hedge accounting [line items]                                                      
Financial liabilities           د.م. 0                                   د.م. 0     0
Euro to Peruvian Nuevos Soles [Member]                                                      
Disclosure of risk management strategy related to hedge accounting [line items]                                                      
Financial assets at fair value through profit or loss                 0                 5,000                 12,000
Financial liabilities at fair value through profit or loss                 $ 0                 $ 0                 $ 0
% Appreciation of asset and liability currency versus the functional currency 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%
Appreciation of asset and liability currency versus the functional currency 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 3.5025557 3.5025557 3.5025557 3.5025557 3.5025557 3.5025557 3.5025557 3.5025557 3.5025557 3.1838036 3.1838036 3.1838036 3.1838036 3.1838036 3.1838036 3.1838036 3.1838036 3.1838036
Euro to Peruvian Nuevos Soles [Member] | Functional currency [member]                                                      
Disclosure of risk management strategy related to hedge accounting [line items]                                                      
Financial assets | €       € 0                 € 37                 € 64          
Financial liabilities | €       0                                   0          
Appreciation of financial assets in functional currency | €       0                 41                 76          
Appreciation of financial liabilities in functional currency | €       € 0                 € 0                 € 0          
Euro to Peruvian Nuevos Soles [Member] | Asset currency [member]                                                      
Disclosure of risk management strategy related to hedge accounting [line items]                                                      
Financial assets                 $ 0               S/ 144 $ 44,000               S/ 241 $ 72,000
Euro to Peruvian Nuevos Soles [Member] | Liability Currency [Member]                                                      
Disclosure of risk management strategy related to hedge accounting [line items]                                                      
Financial liabilities               S/ 0                                   S/ 0 0
Euro to USD [Member]                                                      
Disclosure of risk management strategy related to hedge accounting [line items]                                                      
Financial assets at fair value through profit or loss                 180,000                 400,000                 412,000
Financial liabilities at fair value through profit or loss                 $ 0                 $ 0                 $ 0
% Appreciation of asset and liability currency versus the functional currency 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%
Appreciation of asset and liability currency versus the functional currency 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 1.07937 1.07937 1.07937 1.07937 1.07937 1.07937 1.07937 1.07937 1.07937 0.94869 0.94869 0.94869 0.94869 0.94869 0.94869 0.94869 0.94869 0.94869
Euro to USD [Member] | Functional currency [member]                                                      
Disclosure of risk management strategy related to hedge accounting [line items]                                                      
Financial assets | €       € 1,417                 € 2,999                 € 3,515          
Financial liabilities | €       0                                   0          
Appreciation of financial assets in functional currency | €       1,574                 3,332                 3,905          
Appreciation of financial liabilities in functional currency | €       € 0                 € 0                 € 0          
Euro to USD [Member] | Asset currency [member]                                                      
Disclosure of risk management strategy related to hedge accounting [line items]                                                      
Financial assets                 $ 1,622,000                 $ 3,597,000                 $ 3,705,000
Euro to USD [Member] | Liability Currency [Member]                                                      
Disclosure of risk management strategy related to hedge accounting [line items]                                                      
Financial liabilities                 0                                   0
Chilean Pesos to USD [Member]                                                      
Disclosure of risk management strategy related to hedge accounting [line items]                                                      
Financial assets at fair value through profit or loss                 6,000                 1,000                 0
Financial liabilities at fair value through profit or loss                 $ 0                 $ 0                 $ 0
% Appreciation of asset and liability currency versus the functional currency 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%
Appreciation of asset and liability currency versus the functional currency 0 0 0 0 0 0 0 0 0 0.0014629 0.0014629 0.0014629 0.0014629 0.0014629 0.0014629 0.0014629 0.0014629 0.0014629 0.0013487 0.0013487 0.0013487 0.0013487 0.0013487 0.0013487 0.0013487 0.0013487 0.0013487
Chilean Pesos to USD [Member] | Functional currency [member]                                                      
Disclosure of risk management strategy related to hedge accounting [line items]                                                      
Financial assets       € 36,744             $ 7,982,000                 $ 212,000              
Financial liabilities | €       0                                   € 0          
Appreciation of financial assets in functional currency       40,827             8,875,000                 235,000              
Appreciation of financial liabilities in functional currency       € 0             $ 0                 $ 0              
Chilean Pesos to USD [Member] | Asset currency [member]                                                      
Disclosure of risk management strategy related to hedge accounting [line items]                                                      
Financial assets                 $ 53,000                 $ 13,000                 $ 0
Chilean Pesos to USD [Member] | Liability Currency [Member]                                                      
Disclosure of risk management strategy related to hedge accounting [line items]                                                      
Financial liabilities                 0                                   0
Mexican Pesos to USD [Member]                                                      
Disclosure of risk management strategy related to hedge accounting [line items]                                                      
Financial assets at fair value through profit or loss                 157,000                 (49,000)                 0
Financial liabilities at fair value through profit or loss                 $ 0                 $ 0                 $ 0
% Appreciation of asset and liability currency versus the functional currency 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%
Appreciation of asset and liability currency versus the functional currency 0 0 0 0 0 0 0 0 0 0.0457715 0.0457715 0.0457715 0.0457715 0.0457715 0.0457715 0.0457715 0.0457715 0.0457715 0.0436482 0.0436482 0.0436482 0.0436482 0.0436482 0.0436482 0.0436482 0.0436482 0.0436482
Mexican Pesos to USD [Member] | Functional currency [member]                                                      
Disclosure of risk management strategy related to hedge accounting [line items]                                                      
Financial assets             $ 27,719                 $ 970                 $ 6    
Financial liabilities             0                                   0    
Appreciation of financial assets in functional currency             30,799                 0                 0    
Appreciation of financial liabilities in functional currency             $ 0                 $ 0                 $ 0    
Mexican Pesos to USD [Member] | Asset currency [member]                                                      
Disclosure of risk management strategy related to hedge accounting [line items]                                                      
Financial assets                 $ 1,411,000                 $ 49,000                 $ 0
Mexican Pesos to USD [Member] | Liability Currency [Member]                                                      
Disclosure of risk management strategy related to hedge accounting [line items]                                                      
Financial liabilities                 0                                   0
Brazilian Reais to USD [Member]                                                      
Disclosure of risk management strategy related to hedge accounting [line items]                                                      
Financial assets at fair value through profit or loss                 0                 1,000                 0
Financial liabilities at fair value through profit or loss                 $ 0                 $ 0                 $ 0
% Appreciation of asset and liability currency versus the functional currency 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%
Appreciation of asset and liability currency versus the functional currency 0 0 0 0 0 0 0 0 0 0.2720677 0.2720677 0.2720677 0.2720677 0.2720677 0.2720677 0.2720677 0.2720677 0.2720677 0.2761499 0.2761499 0.2761499 0.2761499 0.2761499 0.2761499 0.2761499 0.2761499 0.2761499
Brazilian Reais to USD [Member] | Functional currency [member]                                                      
Disclosure of risk management strategy related to hedge accounting [line items]                                                      
Financial assets | R$ R$ 16                 R$ 27                 R$ 6                
Financial liabilities | R$ 0                                   0                
Appreciation of financial assets in functional currency | R$ 17                 30                 7                
Appreciation of financial liabilities in functional currency | R$ R$ 0                 R$ 0                 R$ 0                
Brazilian Reais to USD [Member] | Asset currency [member]                                                      
Disclosure of risk management strategy related to hedge accounting [line items]                                                      
Financial assets                 $ 4,000                 $ 8,000                 $ 2,000
Brazilian Reais to USD [Member] | Liability Currency [Member]                                                      
Disclosure of risk management strategy related to hedge accounting [line items]                                                      
Financial liabilities                 0                                   0
Guatemalan Quetzal to USD [Member]                                                      
Disclosure of risk management strategy related to hedge accounting [line items]                                                      
Financial assets at fair value through profit or loss                 30,000                 1,000                 36,000
Financial liabilities at fair value through profit or loss                 $ 0                 $ 0                 $ 0
% Appreciation of asset and liability currency versus the functional currency 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%
Appreciation of asset and liability currency versus the functional currency 0 0 0 0 0 0 0 0 0 0.1225362 0.1225362 0.1225362 0.1225362 0.1225362 0.1225362 0.1225362 0.1225362 0.1225362 0.119647 0.119647 0.119647 0.119647 0.119647 0.119647 0.119647 0.119647 0.119647
Guatemalan Quetzal to USD [Member] | Functional currency [member]                                                      
Disclosure of risk management strategy related to hedge accounting [line items]                                                      
Financial assets | Q         Q 2,094                 Q 82                 Q 2,442        
Financial liabilities | Q         0                                   0        
Appreciation of financial assets in functional currency | Q         2,327                 91                 2,713        
Appreciation of financial liabilities in functional currency | Q         Q 0                 Q 0                 Q 0        
Guatemalan Quetzal to USD [Member] | Asset currency [member]                                                      
Disclosure of risk management strategy related to hedge accounting [line items]                                                      
Financial assets                 $ 271,000                 $ 11,000                 $ 325,000
Guatemalan Quetzal to USD [Member] | Liability Currency [Member]                                                      
Disclosure of risk management strategy related to hedge accounting [line items]                                                      
Financial liabilities                 0                                   0
Colombian Pesos to USD [Member]                                                      
Disclosure of risk management strategy related to hedge accounting [line items]                                                      
Financial assets at fair value through profit or loss                 19,000                 23,000                 22,000
Financial liabilities at fair value through profit or loss                 $ 0                 $ 0                 $ 0
% Appreciation of asset and liability currency versus the functional currency 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%
Appreciation of asset and liability currency versus the functional currency 0 0 0 0 0 0 0 0 0 0.0003016 0.0003016 0.0003016 0.0003016 0.0003016 0.0003016 0.0003016 0.0003016 0.0003016 0.0002999 0.0002999 0.0002999 0.0002999 0.0002999 0.0002999 0.0002999 0.0002999 0.0002999
Colombian Pesos to USD [Member] | Functional currency [member]                                                      
Disclosure of risk management strategy related to hedge accounting [line items]                                                      
Financial assets     $ 546,644                 $ 610,695                 $ 590,271            
Financial liabilities     0                                   0            
Appreciation of financial assets in functional currency     607,382                 678,550                 655,857            
Appreciation of financial liabilities in functional currency     $ 0                 $ 0                 $ 0            
Colombian Pesos to USD [Member] | Asset currency [member]                                                      
Disclosure of risk management strategy related to hedge accounting [line items]                                                      
Financial assets                 $ 168,000                 $ 205,000                 $ 197,000
Colombian Pesos to USD [Member] | Liability Currency [Member]                                                      
Disclosure of risk management strategy related to hedge accounting [line items]                                                      
Financial liabilities                 0                                   0
Peruvian Nuevos Soles to USD [Member]                                                      
Disclosure of risk management strategy related to hedge accounting [line items]                                                      
Financial assets at fair value through profit or loss                 369,000                 903,000                 778,000
Financial liabilities at fair value through profit or loss                 $ (116,000)                 $ (199,000)                 $ (170,000)
% Appreciation of asset and liability currency versus the functional currency 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%
Appreciation of asset and liability currency versus the functional currency 0 0 0 0 0 0 0 0 0 0.2773498 0.2773498 0.2773498 0.2773498 0.2773498 0.2773498 0.2773498 0.2773498 0.2773498 0.2681764 0.2681764 0.2681764 0.2681764 0.2681764 0.2681764 0.2681764 0.2681764 0.2681764
Peruvian Nuevos Soles to USD [Member] | Functional currency [member]                                                      
Disclosure of risk management strategy related to hedge accounting [line items]                                                      
Financial assets | S/               S/ 11,221                 S/ 26,358                 S/ 23,484  
Financial liabilities | S/               3,536                 5,822                 5,138  
Appreciation of financial assets in functional currency | S/               12,468                 29,287                 26,094  
Appreciation of financial liabilities in functional currency | S/               S/ 3,929                 S/ 6,469                 S/ 5,709  
Peruvian Nuevos Soles to USD [Member] | Asset currency [member]                                                      
Disclosure of risk management strategy related to hedge accounting [line items]                                                      
Financial assets                 $ 3,321,000                 $ 8,123,000                 $ 6,998,000
Peruvian Nuevos Soles to USD [Member] | Liability Currency [Member]                                                      
Disclosure of risk management strategy related to hedge accounting [line items]                                                      
Financial liabilities                 1,046,000                 1,794,000                 1,531,000
United States Dolar to Euro [Member]                                                      
Disclosure of risk management strategy related to hedge accounting [line items]                                                      
Financial assets at fair value through profit or loss                 2,000                 1,000                 1,230,000
Financial liabilities at fair value through profit or loss                 $ 0                 $ 0                 $ 0
% Appreciation of asset and liability currency versus the functional currency 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%
Appreciation of asset and liability currency versus the functional currency 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.7504378 0.7504378 0.7504378 0.7504378 0.7504378 0.7504378 0.7504378 0.7504378 0.7504378 0.8538089 0.8538089 0.8538089 0.8538089 0.8538089 0.8538089 0.8538089 0.8538089 0.8538089
United States Dolar to Euro [Member] | Functional currency [member]                                                      
Disclosure of risk management strategy related to hedge accounting [line items]                                                      
Financial assets                 $ 15                 $ 8,000                 $ 11,068,000
Financial liabilities                 0                                   0
Appreciation of financial assets in functional currency                 17,000                 9,000                 12,298,000
Appreciation of financial liabilities in functional currency                 0                 0                 0
United States Dolar to Euro [Member] | Asset currency [member]                                                      
Disclosure of risk management strategy related to hedge accounting [line items]                                                      
Financial assets                 15,000       € 6         8,000       € 10,500         11,068,000
United States Dolar to Euro [Member] | Liability Currency [Member]                                                      
Disclosure of risk management strategy related to hedge accounting [line items]                                                      
Financial liabilities       € 0                                   € 0         0
United States Dolar to MXN [Member]                                                      
Disclosure of risk management strategy related to hedge accounting [line items]                                                      
Financial assets at fair value through profit or loss                 0                 1,000                 9,000
Financial liabilities at fair value through profit or loss                 $ 0                 $ 0                 $ 0
% Appreciation of asset and liability currency versus the functional currency 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%
Appreciation of asset and liability currency versus the functional currency 0.18 0.18 0.18 0.18 0.18 0.18 0.18 0.18 0.18 17.69661 17.69661 17.69661 17.69661 17.69661 17.69661 17.69661 17.69661 17.69661 18.55746 18.55746 18.55746 18.55746 18.55746 18.55746 18.55746 18.55746 18.55746
United States Dolar to MXN [Member] | Functional currency [member]                                                      
Disclosure of risk management strategy related to hedge accounting [line items]                                                      
Financial assets                 $ 1                 $ 10,000                 $ 79,000
Financial liabilities                 0                                   0
Appreciation of financial assets in functional currency                 1,000                 11,000                 88,000
Appreciation of financial liabilities in functional currency                 0                 0                 0
United States Dolar to MXN [Member] | Asset currency [member]                                                      
Disclosure of risk management strategy related to hedge accounting [line items]                                                      
Financial assets                 1,000             $ 202   10,000             $ 1,627   79,000
United States Dolar to MXN [Member] | Liability Currency [Member]                                                      
Disclosure of risk management strategy related to hedge accounting [line items]                                                      
Financial liabilities             $ 0                                   $ 0   0
Chilean Pesos to Euro [Member]                                                      
Disclosure of risk management strategy related to hedge accounting [line items]                                                      
Financial assets at fair value through profit or loss                 0                 20,000                 0
Financial liabilities at fair value through profit or loss                 $ 0                 $ 0                 $ 0
% Appreciation of asset and liability currency versus the functional currency 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%
Appreciation of asset and liability currency versus the functional currency 0 0 0 0 0 0 0 0 0 0.0012198 0.0012198 0.0012198 0.0012198 0.0012198 0.0012198 0.0012198 0.0012198 0.0012198 0.0012795 0.0012795 0.0012795 0.0012795 0.0012795 0.0012795 0.0012795 0.0012795 0.0012795
Chilean Pesos to Euro [Member] | Functional currency [member]                                                      
Disclosure of risk management strategy related to hedge accounting [line items]                                                      
Financial assets   $ 70                 $ 132,016,000                 $ 292,000              
Financial liabilities   0                                   0              
Appreciation of financial assets in functional currency   81,000                 146,423,000                 324,000              
Appreciation of financial liabilities in functional currency   $ 0                 $ 0                 $ 0              
Chilean Pesos to Euro [Member] | Asset currency [member]                                                      
Disclosure of risk management strategy related to hedge accounting [line items]                                                      
Financial assets                 $ 0       € 179         $ 215,000       € 0         $ 0
Chilean Pesos to Euro [Member] | Liability Currency [Member]                                                      
Disclosure of risk management strategy related to hedge accounting [line items]                                                      
Financial liabilities       € 0                                   € 0         $ 0
v3.19.1
MANAGEMENT OF FINANCIAL RISK - FINANCIAL DEBT WITH THIRD PARTY (Details) - USD ($)
$ in Thousands
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Disclosure of risk management strategy related to hedge accounting [abstract]        
Secured bank loans received $ 400,035 $ 398,346    
Notes and debentures issued 14,708 21,055    
Unsecured bank loans received 39,498 56,392    
Finance lease liabilities 5,527 10,498    
Cash and cash equivalents 133,526 141,762 $ 194,035 $ 184,020
Contingent value instrument 0 0    
Net debt $ 326,242 $ 344,529    
v3.19.1
BUSINESS COMBINATIONS - RBRASIL / INTERFILE (Details)
R$ in Thousands, $ in Thousands
5 Months Ended 8 Months Ended 12 Months Ended
Jun. 09, 2017
USD ($)
Sep. 02, 2016
BRL (R$)
Sep. 02, 2016
USD ($)
Dec. 31, 2018
USD ($)
Dec. 31, 2017
USD ($)
Dec. 31, 2016
USD ($)
Sep. 02, 2016
USD ($)
Disclosure of detailed information about business combination [line items]              
Cash flows used in obtaining control of subsidiaries or other businesses, classified as investing activities       $ 0 $ 14,512 $ 8,638  
Business combinations [member]              
Disclosure of detailed information about business combination [line items]              
Transaction costs         192    
Company consolidated revenue         38,558    
Revenue of acquiree since acquisition date         $ 22,472    
Business combinations [member] | Gross contractual amount for trade receivables [member]              
Disclosure of detailed information about business combination [line items]              
Accounts receivable $ 5,643            
R Brasil Solucoes S.A. [member]              
Disclosure of detailed information about business combination [line items]              
Percentage of voting equity interests acquired   8149.00%         8149.00%
Cash flows used in obtaining control of subsidiaries or other businesses, classified as investing activities   R$ 27,095 $ 8,638        
Contingent consideration arrangements and indemnification assets recognised as of acquisition date   R$ 8,150         $ 2,501
Consideration transferred, acquisition-date fair value             11,454
Financial liabilities recognised as of acquisition date             2,932
Accounts receivable             $ 2,273
Revenue of acquiree since acquisition date     5,951        
Profit (loss) of acquiree since acquisition date     $ 858        
Nova Interfile Holding [Member]              
Disclosure of detailed information about business combination [line items]              
Cash flows used in obtaining control of subsidiaries or other businesses, classified as investing activities 14,664            
Consideration transferred, acquisition-date fair value 16,236            
Financial liabilities recognised as of acquisition date 6,203            
Accounts receivable $ 5,463            
v3.19.1
BUSINESS COMBINATIONS - FAIR VALUE RBRASIL (Details)
R$ in Thousands
8 Months Ended 12 Months Ended
Sep. 02, 2016
BRL (R$)
Sep. 02, 2016
USD ($)
Dec. 31, 2018
USD ($)
Dec. 31, 2017
USD ($)
Dec. 31, 2016
USD ($)
Sep. 02, 2016
USD ($)
Liabilities [abstract]            
Deferred tax liabilities     $ 30,221,000 $ 43,942,000 $ 45,597,000  
Goodwill on acquisition     154,989,000 153,144,000 146,015,000  
Analysis of the cash flow of the acquisition            
Outflow cash, net     $ 0 $ 14,512,000 $ 8,638,000  
R Brasil Solucoes S.A. [member]            
Assets [abstract]            
Cash and cash equivalents           $ 315,000
Escrow account R$ 9,400         2,884,000
Deferred taxes assets           2,079,000
Other credits           679,000
Property, plant and equipment           491,000
Identifiable intangible assets recognised as of acquisition date           2,628,000
Accounts receivable           2,273,000
Liabilities [abstract]            
Other obligations           2,932,000
Contingent liabilities recognised as of acquisition date           13,105,000
Total net liabilities assumed at fair value           (4,688,000)
Non- interest           928,000
Goodwill on acquisition           15,214,000
Total of the consideration           11,454,000
Purchase price consideration            
Contingent consideration 8,150         $ 2,501,000
Analysis of the cash flow of the acquisition            
Consideration paid (received)   $ 8,953,000        
Net cash acquired   315,000        
Outflow cash, net R$ 27,095 $ 8,638,000        
v3.19.1
INTANGIBLE ASSETS - BREAKDOWN (Details) - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Disclosure of detailed information about intangible assets [line items]      
Intangible assets other than goodwill $ 230,104,000 $ 226,553,000 $ 226,260,000
Additions 2,827,000 19,707,000 37,872,000
Acquisitions from business combination 0 16,456,000 2,628,000
Disposals 1,506,000 3,366,000 (2,990,000)
Transfers 4,362,000 0  
Translation differences (30,073,000) 10,168,000 38,527,000
Revaluation Increase Decrease Intangible Assets Other Than Goodwill 5,486,000 0  
Intangible assets other than goodwill 211,202,000 230,104,000 226,553,000
Gross carrying amount [member]      
Disclosure of detailed information about intangible assets [line items]      
Intangible assets other than goodwill 520,344,000 453,776,000 387,500,000
Additions 62,134,000 35,488,000 13,044,000
Acquisitions from business combination 0 16,456,000 2,628,000
Disposals 2,871,000 3,893,000 0
Transfers 4,362,000 570,000  
Translation differences (63,632,000) 17,947,000 60,630,000
Revaluation Increase Decrease Intangible Assets Other Than Goodwill 12,795,000 0  
Intangible assets other than goodwill 533,132,000 520,344,000 453,776,000
Accumulated depreciation and amortisation [member]      
Disclosure of detailed information about intangible assets [line items]      
Intangible assets other than goodwill (265,771,000) (205,716,000) (139,027,000)
Additions (58,681,000) (55,195,000) (50,916,000)
Acquisitions from business combination 0 0 0
Disposals 1,365,000 527,000 7,036,000
Transfers 0 (570,000)  
Translation differences 32,455,000 (4,817,000) (22,809,000)
Revaluation Increase Decrease Intangible Assets Other Than Goodwill (7,309,000) 0  
Intangible assets other than goodwill (297,941,000) (265,771,000) (205,716,000)
Accumulated impairment [member]      
Disclosure of detailed information about intangible assets [line items]      
Intangible assets other than goodwill (24,469,000) (21,507,000) (22,213,000)
Additions (626,000) 0 0
Acquisitions from business combination 0 0 0
Disposals 0 0 0
Transfers 0 0  
Translation differences 1,104,000 (2,962,000) 706,000
Revaluation Increase Decrease Intangible Assets Other Than Goodwill 0 0  
Intangible assets other than goodwill (23,991,000) (24,469,000) (21,507,000)
Development | Gross carrying amount [member]      
Disclosure of detailed information about intangible assets [line items]      
Intangible assets other than goodwill 4,696,000 3,907,000 2,422,000
Additions 2,081,000 1,513,000 1,231,000
Acquisitions from business combination 0 0 0
Disposals 777,000 7,000 0
Transfers 0 (627,000)  
Translation differences (1,341,000) (90,000) 306,000
Revaluation Increase Decrease Intangible Assets Other Than Goodwill 431,000 0  
Intangible assets other than goodwill 5,090,000 4,696,000 3,907,000
Development | Accumulated depreciation and amortisation [member]      
Disclosure of detailed information about intangible assets [line items]      
Intangible assets other than goodwill (691,000) (475,000) (282,000)
Additions (181,000) (235,000) (241,000)
Acquisitions from business combination 0 0 0
Disposals 14,000 7,000 33,000
Transfers 0 (1,000)  
Translation differences 727,000 13,000 15,000
Revaluation Increase Decrease Intangible Assets Other Than Goodwill (516,000) 0  
Intangible assets other than goodwill (647,000) (691,000) (475,000)
Customer base | Gross carrying amount [member]      
Disclosure of detailed information about intangible assets [line items]      
Intangible assets other than goodwill 291,898,000 264,157,000 254,110,000
Additions 0 2,552,000 0
Acquisitions from business combination 0 14,931,000 2,522,000
Disposals 411,000 9,000 0
Transfers 0 0  
Translation differences (38,285,000) 10,267,000 7,525,000
Revaluation Increase Decrease Intangible Assets Other Than Goodwill 9,725,000 0  
Intangible assets other than goodwill 262,927,000 291,898,000 264,157,000
Customer base | Accumulated depreciation and amortisation [member]      
Disclosure of detailed information about intangible assets [line items]      
Intangible assets other than goodwill (133,658,000) (105,296,000) (77,443,000)
Additions (23,423,000) (25,222,000) (24,175,000)
Acquisitions from business combination 0 0 0
Disposals 150,000 0 0
Transfers 0 0  
Translation differences 18,461,000 (3,140,000) (2,806,000)
Revaluation Increase Decrease Intangible Assets Other Than Goodwill (4,820,000) 0  
Intangible assets other than goodwill (143,290,000) (133,658,000) (105,296,000)
Software      
Disclosure of detailed information about intangible assets [line items]      
Additions 38,500,000    
Software | Gross carrying amount [member]      
Disclosure of detailed information about intangible assets [line items]      
Intangible assets other than goodwill 158,035,000 138,050,000 90,278,000
Additions 53,035,000 12,463,000 8,140,000
Acquisitions from business combination 0 1,468,000 105,000
Disposals 676,000 3,085,000 0
Transfers 5,182,000 2,115,000  
Translation differences (22,973,000) 7,024,000 47,073,000
Revaluation Increase Decrease Intangible Assets Other Than Goodwill 2,363,000 0  
Intangible assets other than goodwill 194,966,000 158,035,000 138,050,000
Software | Accumulated depreciation and amortisation [member]      
Disclosure of detailed information about intangible assets [line items]      
Intangible assets other than goodwill (93,905,000) (68,138,000) (36,637,000)
Additions (28,992,000) (24,669,000) (21,953,000)
Acquisitions from business combination 0 0 0
Disposals 48,000 147,000 6,716,000
Transfers 0 (179,000)  
Translation differences 10,269,000 (1,066,000) (16,264,000)
Revaluation Increase Decrease Intangible Assets Other Than Goodwill (1,265,000) 0  
Intangible assets other than goodwill (113,845,000) (93,905,000) (68,138,000)
Other intangible assets [member] | Gross carrying amount [member]      
Disclosure of detailed information about intangible assets [line items]      
Intangible assets other than goodwill 65,253,000 44,839,000 39,492,000
Additions 6,091,000 18,960,000 980,000
Acquisitions from business combination 0 57,000 1,000
Disposals 1,007,000 533,000 0
Transfers (820,000) 1,155,000  
Translation differences (733,000) 775,000 6,788,000
Revaluation Increase Decrease Intangible Assets Other Than Goodwill 276,000 0  
Intangible assets other than goodwill 69,060,000 65,253,000 44,839,000
Other intangible assets [member] | Accumulated depreciation and amortisation [member]      
Disclosure of detailed information about intangible assets [line items]      
Intangible assets other than goodwill (37,517,000) (31,807,000) (24,665,000)
Additions (6,085,000) (5,069,000) (4,547,000)
Acquisitions from business combination 0 0 0
Disposals 1,153,000 373,000 287,000
Transfers 0 (390,000)  
Translation differences 2,998,000 (624,000) (3,754,000)
Revaluation Increase Decrease Intangible Assets Other Than Goodwill (708,000) 0  
Intangible assets other than goodwill (40,159,000) (37,517,000) (31,807,000)
Work in progress | Gross carrying amount [member]      
Disclosure of detailed information about intangible assets [line items]      
Intangible assets other than goodwill 462,000 2,823,000 1,198,000
Additions 927,000 0 2,693,000
Acquisitions from business combination 0 0 0
Disposals 0 259,000 0
Transfers 0 (2,073,000)  
Translation differences (300,000) (29,000) (1,062,000)
Revaluation Increase Decrease Intangible Assets Other Than Goodwill 0 0  
Intangible assets other than goodwill $ 1,089,000 $ 462,000 $ 2,823,000
v3.19.1
INTANGIBLE ASSETS - CUSTOMER BASE (Details) - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Disclosure of detailed information about intangible assets [line items]        
Intangible assets other than goodwill $ 211,202,000 $ 230,104,000 $ 226,553,000 $ 226,260,000
Additions 2,827,000 19,707,000 37,872,000  
Acquisitions from business combination 0 16,456,000 2,628,000  
Disposals 1,506,000 3,366,000 (2,990,000)  
Translation differences (30,073,000) 10,168,000 38,527,000  
Accumulated depreciation and amortisation [member]        
Disclosure of detailed information about intangible assets [line items]        
Intangible assets other than goodwill (297,941,000) (265,771,000) (205,716,000) (139,027,000)
Additions (58,681,000) (55,195,000) (50,916,000)  
Acquisitions from business combination 0 0 0  
Disposals 1,365,000 527,000 7,036,000  
Translation differences 32,455,000 (4,817,000) (22,809,000)  
Accumulated impairment [member]        
Disclosure of detailed information about intangible assets [line items]        
Intangible assets other than goodwill (23,991,000) (24,469,000) (21,507,000) (22,213,000)
Additions (626,000) 0 0  
Acquisitions from business combination 0 0 0  
Disposals 0 0 0  
Translation differences 1,104,000 (2,962,000) 706,000  
Capitalised development expenditure [member] | Accumulated depreciation and amortisation [member]        
Disclosure of detailed information about intangible assets [line items]        
Intangible assets other than goodwill (647,000) (691,000) (475,000) (282,000)
Additions (181,000) (235,000) (241,000)  
Acquisitions from business combination 0 0 0  
Disposals 14,000 7,000 33,000  
Translation differences 727,000 13,000 15,000  
Customer-related intangible assets [member] | BRAZIL [Member]        
Disclosure of detailed information about intangible assets [line items]        
Intangible assets other than goodwill 112,632,000      
Customer-related intangible assets [member] | SPAIN [Member]        
Disclosure of detailed information about intangible assets [line items]        
Intangible assets other than goodwill 49,910,000      
Customer-related intangible assets [member] | MEXICO [Member]        
Disclosure of detailed information about intangible assets [line items]        
Intangible assets other than goodwill 48,202,000      
Customer-related intangible assets [member] | PERU [Member]        
Disclosure of detailed information about intangible assets [line items]        
Intangible assets other than goodwill 15,648,000      
Customer-related intangible assets [member] | COLOMBIA [Member]        
Disclosure of detailed information about intangible assets [line items]        
Intangible assets other than goodwill 3,106,000      
Customer-related intangible assets [member] | CHILE [Member]        
Disclosure of detailed information about intangible assets [line items]        
Intangible assets other than goodwill 8,940,000      
Customer-related intangible assets [member] | ARGENTINA [Member]        
Disclosure of detailed information about intangible assets [line items]        
Intangible assets other than goodwill 4,033,000      
Customer-related intangible assets [member] | URUGUAY [member]        
Disclosure of detailed information about intangible assets [line items]        
Intangible assets other than goodwill 4,033,000      
Customer-related intangible assets [member] | Telefonica S.A. [member]        
Disclosure of detailed information about intangible assets [line items]        
Intangible assets other than goodwill 247,744,000      
Customer-related intangible assets [member] | Accumulated depreciation and amortisation [member]        
Disclosure of detailed information about intangible assets [line items]        
Intangible assets other than goodwill (143,290,000) (133,658,000) (105,296,000) (77,443,000)
Additions (23,423,000) (25,222,000) (24,175,000)  
Acquisitions from business combination 0 0 0  
Disposals 150,000 0 0  
Translation differences 18,461,000 (3,140,000) (2,806,000)  
Computer software [member]        
Disclosure of detailed information about intangible assets [line items]        
Additions 38,500,000      
Computer software [member] | BRAZIL [Member]        
Disclosure of detailed information about intangible assets [line items]        
Additions 4,600,000      
Computer software [member] | Accumulated depreciation and amortisation [member]        
Disclosure of detailed information about intangible assets [line items]        
Intangible assets other than goodwill (113,845,000) (93,905,000) (68,138,000) (36,637,000)
Additions (28,992,000) (24,669,000) (21,953,000)  
Acquisitions from business combination 0 0 0  
Disposals 48,000 147,000 6,716,000  
Translation differences 10,269,000 (1,066,000) (16,264,000)  
Other intangible assets [member] | Accumulated depreciation and amortisation [member]        
Disclosure of detailed information about intangible assets [line items]        
Intangible assets other than goodwill (40,159,000) (37,517,000) (31,807,000) $ (24,665,000)
Additions (6,085,000) (5,069,000) (4,547,000)  
Acquisitions from business combination 0 0 0  
Disposals 1,153,000 373,000 287,000  
Translation differences $ 2,998,000 $ (624,000) $ (3,754,000)  
v3.19.1
GOODWILL - CHANGES IN GOODWILL (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Disclosure of reconciliation of changes in goodwill [line items]    
Goodwill Period Start $ 153,144 $ 146,015
Increase (decrease) through other changes, goodwill 0 8,400
Increase (decrease) through net exchange differences, goodwill (23,732) (1,272)
Goodwill Period End 154,989 153,144
PERU [Member]    
Disclosure of reconciliation of changes in goodwill [line items]    
Goodwill Period Start 30,269 29,268
Increase (decrease) through other changes, goodwill 0 0
Increase (decrease) through net exchange differences, goodwill (1,200) 1,001
Goodwill Period End 29,069 30,269
CHILE [Member]    
Disclosure of reconciliation of changes in goodwill [line items]    
Goodwill Period Start 18,780 17,314
Increase (decrease) through other changes, goodwill 0 0
Increase (decrease) through net exchange differences, goodwill (2,172) 1,466
Goodwill Period End 16,608 18,780
COLOMBIA [Member]    
Disclosure of reconciliation of changes in goodwill [line items]    
Goodwill Period Start 6,284 6,249
Increase (decrease) through other changes, goodwill 0 0
Increase (decrease) through net exchange differences, goodwill (514) 35
Goodwill Period End 5,770 6,284
CZECH REPUBLIC [Member]    
Disclosure of reconciliation of changes in goodwill [line items]    
Goodwill Period Start 0 0
Increase (decrease) through other changes, goodwill 0 0
Increase (decrease) through net exchange differences, goodwill 0 0
Goodwill Period End 0 0
MEXICO [Member]    
Disclosure of reconciliation of changes in goodwill [line items]    
Goodwill Period Start 1,842 1,758
Increase (decrease) through other changes, goodwill 0 0
Increase (decrease) through net exchange differences, goodwill 2 84
Goodwill Period End 1,844 1,842
SPAIN [Member]    
Disclosure of reconciliation of changes in goodwill [line items]    
Goodwill Period Start 0 0
Increase (decrease) through other changes, goodwill 0 0
Increase (decrease) through net exchange differences, goodwill 0 0
Goodwill Period End 0 0
BRAZIL [Member]    
Disclosure of reconciliation of changes in goodwill [line items]    
Goodwill Period Start 79,790 72,439
Increase (decrease) through other changes, goodwill 0 8,400
Increase (decrease) through net exchange differences, goodwill (11,672) (1,049)
Goodwill Period End 68,118 79,790
ARGENTINA [Member]    
Disclosure of reconciliation of changes in goodwill [line items]    
Goodwill Period Start 16,179 18,988
Increase (decrease) through other changes, goodwill 0 0
Increase (decrease) through net exchange differences, goodwill (8,176) (2,809)
Goodwill Period End $ 33,580 $ 16,179
v3.19.1
GOODWILL - SUBSIDIARIES (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Disclosure of reconciliation of changes in goodwill [line items]      
Goodwill $ 154,989 $ 153,144 $ 146,015
Increase (decrease) through other changes, goodwill $ 0 $ 8,400  
v3.19.1
IMPAIRMENT OF ASSETS - DISCOUNT AND GROWTH RATES (Details) - USD ($)
Dec. 31, 2018
Dec. 31, 2017
BRAZIL [Member]    
Disclosure of information for cash-generating units [line items]    
Discount rate applied to cash flow projections 14.10% 12.74%
Growth rate used to extrapolate cash flow projections 3.70% 3.85%
Recoverable amounts $ 763,449,000 $ 879,303,000
MEXICO [Member]    
Disclosure of information for cash-generating units [line items]    
Discount rate applied to cash flow projections 14.07% 12.09%
Growth rate used to extrapolate cash flow projections 3.00% 4.00%
Recoverable amounts $ 47,732,000 $ 25,400,000
COLOMBIA [Member]    
Disclosure of information for cash-generating units [line items]    
Discount rate applied to cash flow projections 12.46% 12.48%
Growth rate used to extrapolate cash flow projections 3.30% 3.40%
Recoverable amounts $ 74,267,000 $ 59,643,000
PERU [Member]    
Disclosure of information for cash-generating units [line items]    
Discount rate applied to cash flow projections 9.75% 11.54%
Growth rate used to extrapolate cash flow projections 1.40% 2.50%
Recoverable amounts $ 389,208,000 $ 226,881,000
CHILE [Member]    
Disclosure of information for cash-generating units [line items]    
Discount rate applied to cash flow projections 10.49% 11.35%
Growth rate used to extrapolate cash flow projections 2.50% 2.40%
Recoverable amounts $ 98,318,000 $ 60,607,000
ARGENTINA [Member]    
Disclosure of information for cash-generating units [line items]    
Discount rate applied to cash flow projections 53.04% 30.25%
Growth rate used to extrapolate cash flow projections 34.20% 19.30%
Recoverable amounts $ 78,276,000 $ 90,143,000
v3.19.1
IMPAIRMENT OF ASSETS - INTANGIBLE ASSETS (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Disclosure of detailed information about intangible assets [line items]      
Other gains (losses) $ 180 $ 372 $ 41,748
Description of key assumptions on which management has based cash flow projections   In the event of a 1% increase or decrease in the discount rate used to calculate the recoverable amount of the CGUs in each country, with the other variables remaining unchanged, the recoverable amount would still be higher than the corresponding carrying amount. In the event of a 1% increase or decrease in the discount rate used to calculate the recoverable amount of the CGUs in each country, with the other variables remaining unchanged, the recoverable amount would still be higher than the corresponding carrying amount.
v3.19.1
PROPERTY, PLANT AND EQUIPMENT (PP&E) (Details) - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Disclosure of detailed information about property, plant and equipment [line items]      
Property, plant and equipment Period Start $ 152,195,000 $ 165,270,000 $ 191,678,000
Additions 8,815,000 950,000 13,824,000
Acquisition of new entities 0 2,628,000 491,000
Disposals 478,000 24,444,000 5,876,000
Transfers (4,362,000) 0 0
Translation differences (15,334,000) 7,791,000 (7,199,000)
Property, plant and equipment Period End 123,940,000 152,195,000 165,270,000
Gross carrying amount [member]      
Disclosure of detailed information about property, plant and equipment [line items]      
Property, plant and equipment Period Start 368,168,000 343,127,000 298,533,000
Additions 27,751,000 50,176,000 32,624,000
Acquisition of new entities 0 2,628,000 491,000
Disposals 19,227,000 42,937,000 26,392,000
Transfers (4,362,000) 0 0
Translation differences (36,247,000) 15,174,000 37,871,000
Property, plant and equipment Period End 337,284,000 368,168,000 343,127,000
Accumulated depreciation and amortisation [member]      
Disclosure of detailed information about property, plant and equipment [line items]      
Property, plant and equipment Period Start (215,973,000) (177,857,000) (106,855,000)
Additions (36,566,000) (49,226,000) (46,448,000)
Acquisition of new entities 0 0 0
Disposals 18,749,000 18,493,000 20,516,000
Transfers 0 0 0
Translation differences 20,913,000 (7,383,000) (45,070,000)
Property, plant and equipment Period End (213,344,000) (215,973,000) (177,857,000)
Land and natural resources | Gross carrying amount [member]      
Disclosure of detailed information about property, plant and equipment [line items]      
Property, plant and equipment Period Start 0 0 37,000
Additions 0 0 0
Acquisition of new entities 0 0 0
Disposals 0 0 38,000
Transfers 0 0 0
Translation differences 0 0 1,000
Property, plant and equipment Period End 0 0 0
Buildings [member]      
Disclosure of detailed information about property, plant and equipment [line items]      
Additions 6,600    
Buildings [member] | Gross carrying amount [member]      
Disclosure of detailed information about property, plant and equipment [line items]      
Property, plant and equipment Period Start 11,443,000 9,792,000 9,733,000
Additions 0 272,000 0
Acquisition of new entities 0 0 0
Disposals 1,000 0 0
Transfers 0 0 285,000
Translation differences (514,000) 1,379,000 (226,000)
Property, plant and equipment Period End 12,129,000 11,443,000 9,792,000
Buildings [member] | Accumulated depreciation and amortisation [member]      
Disclosure of detailed information about property, plant and equipment [line items]      
Property, plant and equipment Period Start (3,878,000) (3,232,000) (3,626,000)
Additions (396,000) (839,000) (108,000)
Acquisition of new entities 0 0 0
Disposals 0 653,000 402,000
Transfers 0 0 0
Translation differences 316,000 (460,000) 100,000
Property, plant and equipment Period End (4,425,000) (3,878,000) (3,232,000)
Plant and machinery [member] | Gross carrying amount [member]      
Disclosure of detailed information about property, plant and equipment [line items]      
Property, plant and equipment Period Start 8,659,000 6,843,000 9,330,000
Additions 55,000 211,000 144,000
Acquisition of new entities 0 575,000 0
Disposals 59,000 0 86,000
Transfers 0 437,000 536,000
Translation differences (468,000) 593,000 (3,081,000)
Property, plant and equipment Period End 8,187,000 8,659,000 6,843,000
Plant and machinery [member] | Accumulated depreciation and amortisation [member]      
Disclosure of detailed information about property, plant and equipment [line items]      
Property, plant and equipment Period Start (5,687,000) (4,068,000) (4,171,000)
Additions (1,010,000) (1,049,000) (1,130,000)
Acquisition of new entities 0 0 0
Disposals 0 13,000 370,000
Transfers 0 0 0
Translation differences 365,000 (583,000) 863,000
Property, plant and equipment Period End (6,332,000) (5,687,000) (4,068,000)
Furniture, tools and other tangible assets      
Disclosure of detailed information about property, plant and equipment [line items]      
Additions 5,600,000    
Furniture, tools and other tangible assets | Gross carrying amount [member]      
Disclosure of detailed information about property, plant and equipment [line items]      
Property, plant and equipment Period Start 329,058,000 317,228,000 243,166,000
Additions 15,154,000 27,800,000 20,984,000
Acquisition of new entities 0 2,053,000 477,000
Disposals 18,204,000 32,300,000 26,155,000
Transfers 952,000 3,117,000 12,310,000
Translation differences (32,412,000) 11,160,000 66,446,000
Property, plant and equipment Period End 294,548,000 329,058,000 317,228,000
Furniture, tools and other tangible assets | Accumulated depreciation and amortisation [member]      
Disclosure of detailed information about property, plant and equipment [line items]      
Property, plant and equipment Period Start (206,408,000) (170,557,000) (99,058,000)
Additions (35,160,000) (47,338,000) (45,210,000)
Acquisition of new entities 0 0 0
Disposals 18,749,000 17,827,000 19,744,000
Transfers 0 0 0
Translation differences 20,232,000 (6,340,000) (46,033,000)
Property, plant and equipment Period End (202,587,000) (206,408,000) (170,557,000)
PP&E under construction      
Disclosure of detailed information about property, plant and equipment [line items]      
Additions 7,400,000    
PP&E under construction | Gross carrying amount [member]      
Disclosure of detailed information about property, plant and equipment [line items]      
Property, plant and equipment Period Start 19,008,000 9,264,000 36,267,000
Additions 12,542,000 21,893,000 11,496,000
Acquisition of new entities 0 0 14,000
Disposals 963,000 10,637,000 113,000
Transfers (5,314,000) (3,554,000) (13,131,000)
Translation differences (2,853,000) 2,042,000 (25,269,000)
Property, plant and equipment Period End $ 22,420,000 $ 19,008,000 $ 9,264,000
v3.19.1
PROPERTY, PLANT AND EQUIPMENT (PP&E) - ADDITIONS (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Disclosure of detailed information about property, plant and equipment [line items]        
Property, plant and equipment $ 123,940 $ 152,195 $ 165,270 $ 191,678
Additions other than through business combinations, property, plant and equipment 8,815 $ 950 $ 13,824  
Fixtures and fittings [member]        
Disclosure of detailed information about property, plant and equipment [line items]        
Additions other than through business combinations, property, plant and equipment $ 5,600      
v3.19.1
LEASES AND SIMILAR ARRANGEMENTS - FINANCE LEASES (Details) - USD ($)
Dec. 31, 2018
Dec. 31, 2017
Property, plant and equipment [member]    
Disclosure of recognised finance lease as assets by lessee [line items]    
Recognised finance lease as assets $ 5,798,000 $ 8,466,000
Plant and machinery [member]    
Disclosure of recognised finance lease as assets by lessee [line items]    
Recognised finance lease as assets 983,000 1,847,000
Fixtures and fittings [member] | Other intangible assets [member]    
Disclosure of recognised finance lease as assets by lessee [line items]    
Recognised finance lease as assets $ 4,815,000 $ 6,619,000
v3.19.1
LEASES AND SIMILAR ARRANGEMENTS - MATURITY (Details) - USD ($)
$ in Thousands
Dec. 31, 2018
Dec. 31, 2017
Disclosure of finance lease and operating lease by lessee [line items]    
Minimum finance lease payments payable $ 5,527 $ 10,498
Up to 1 year [member]    
Disclosure of finance lease and operating lease by lessee [line items]    
Minimum finance lease payments payable 3,158 4,260
Between 1 and 5 years    
Disclosure of finance lease and operating lease by lessee [line items]    
Minimum finance lease payments payable $ 2,369 $ 6,238
v3.19.1
LEASES AND SIMILAR ARRANGEMENTS - ATENTO BRASIL SA (Details)
R$ in Thousands, $ in Thousands
4 Months Ended 7 Months Ended 8 Months Ended
Apr. 25, 2017
BRL (R$)
Jul. 24, 2017
BRL (R$)
Aug. 24, 2017
BRL (R$)
Aug. 24, 2017
USD ($)
Jul. 24, 2017
USD ($)
Apr. 25, 2017
USD ($)
Disclosure of quantitative information about leases for lessee [abstract]            
Information about sale and leaseback transactions Atento Brasil S.A. entered in a sale leaseback agreement with HP Financial Services Arrendamento Mercantil S.A. Atento Brasil S.A. entered in a new sale leaseback agreement with HP Financial Services Arrendamento Mercantil S.A. Atento Brasil S.A. entered in a new sale leaseback agreement with HP Financial Services Arrendamento Mercantil S.A.      
Sale leaseback amount R$ 23,615 R$ 4,220 R$ 4,570 $ 1,179 $ 1,089 $ 6,094
v3.19.1
FINANCIAL ASSETS (Details) - USD ($)
$ in Thousands
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Disclosure of financial assets [line items]        
Trade and other receivables $ 19,148 $ 21,677    
Other financial assets 65,070 60,222    
Derivative financial instruments 11,313 8,177    
Non-current financial assets 95,531 90,076    
Other financial assets 891 1,810    
Cash and cash equivalents $ 133,526 $ 141,762 $ 194,035 $ 184,020
v3.19.1
OTHER FINANCIAL ASSETS (Details) - USD ($)
$ in Thousands
Dec. 31, 2018
Dec. 31, 2017
Categories of financial assets [abstract]    
Other non-current receivables $ 13,232 $ 11,125
Non-current guarantees and deposits 51,838 49,097
Total non-current 65,070 60,222
Other current receivables 272 805
Current guarantees and deposits 619 1,005
Total current 891 1,810
Total $ 65,961 $ 62,032
v3.19.1
TRADE AND OTHER RECEIVABLES (Details) - USD ($)
$ in Thousands
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Trade and other receivables [abstract]      
Non-current trade receivables $ 6,430 $ 6,923  
Other non-financial assets 12,718 14,754  
Total non-current 19,148 21,677  
Current trade receivables 279,926 358,311  
Other receivables 8,439 13,225  
Prepayments 18,332 7,849  
Personnel 8,957 9,180  
Total Current 315,654 388,565  
Total 334,802 410,242  
Trade receivables 288,531 371,333  
Impairment allowances (2,175) (6,099) $ (4,279)
Trade receivables, net $ 286,356 $ 365,234  
v3.19.1
TRADE AND OTHER RECEIVABLES - AGING ANALYSIS (Details) - Trade receivables [member] - USD ($)
$ in Thousands
Dec. 31, 2018
Dec. 31, 2017
Disclosure of provision matrix [line items]    
Trade receivable not yet due or due $ 22,751 $ 26,884
Not impaired receivable    
Disclosure of provision matrix [line items]    
Trade receivable not yet due or due 22,751 26,884
Not Due | Not impaired receivable    
Disclosure of provision matrix [line items]    
Trade receivable not yet due or due 263,605 338,350
Due, Less than 90 days    
Disclosure of provision matrix [line items]    
Trade receivable not yet due or due 14,704 20,268
Due, Between 90 and 180 days    
Disclosure of provision matrix [line items]    
Trade receivable not yet due or due 1,026 1,476
Due, Betweeen 180 and 360 days    
Disclosure of provision matrix [line items]    
Trade receivable not yet due or due 2,691 1,734
Due, Over 360 days    
Disclosure of provision matrix [line items]    
Trade receivable not yet due or due $ 4,330 $ 3,406
v3.19.1
TRADE AND OTHER RECEIVABLES - MOVEMENTS IN THE PROVISION FOR IMPAIRMENT OF TRADE RECEIVABLES (Details) - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Trade and other receivables [abstract]    
Opening balance $ (6,099,000) $ (4,279,000)
Allowance (1,854,000) (3,061,000)
Reversal 824,000 553,000
Translation differences 1,923,000 688,000
Total $ (2,175,000) $ (6,099,000)
v3.19.1
DERIVATIVE FINANCIAL INSTRUMENTS (Details)
R$ in Thousands
Dec. 31, 2018
USD ($)
Mar. 05, 2018
BRL (R$)
Mar. 05, 2018
USD ($)
Dec. 31, 2017
USD ($)
Disclosure of detailed information about financial instruments [line items]        
Assets $ 11,313,000     $ 8,177,000
Liabilities (682,000)     6,352,000
Non-current portion, assets 11,313,000     8,177,000
Non-current portion, liabilities 682,000     5,140,000
Current portion, assets 0     0
Current portion, liabilities 0     1,212,000
Net investment hedges        
Disclosure of detailed information about financial instruments [line items]        
Assets       2,289,000
Interest rate swaps | Cashflow hedges        
Disclosure of detailed information about financial instruments [line items]        
Assets 0     0
Liabilities 0     (1,212,000)
Cross-currency swaps        
Disclosure of detailed information about financial instruments [line items]        
Contractual amounts to be exchanged | R$   R$ 33,000    
Variable rate   2.10% 2.10%  
Hedged loan, USD     $ 10,092,000  
Fixed rate   3.40% 3.40%  
Cross-currency swaps | Net investment hedges        
Disclosure of detailed information about financial instruments [line items]        
Assets 11,313,000     7,429,000
Liabilities $ 0     $ (5,140,000)
v3.19.1
DERIVATIVE FINANCIAL INSTRUMENTS - CASH FLOW HEDGE AND NET INVESTMENT HEDGES (Details)
€ in Thousands, S/ in Thousands, R$ in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2018
USD ($)
Dec. 31, 2017
USD ($)
Dec. 31, 2016
USD ($)
Dec. 31, 2017
BRL (R$)
Dec. 31, 2017
EUR (€)
Dec. 31, 2017
MXN ($)
Dec. 31, 2017
PEN (S/)
Dec. 31, 2017
USD ($)
Disclosure of detailed information about hedges [line items]                
Fair value assets $ 11,313,000             $ 8,177,000
Fair value liability (682,000)             6,352,000
Other comprehensive income, net of taxes   $ (9,594,000)            
Change in OCI   (25,927,000)            
Statements of operations - Finance cost 45,612,000 [1] 78,145,000 [1] $ 59,151,000          
Change in fair value of financial instruments 179,000 230,000 $ 675,000          
Currency Swap Contract - do not qualify for hedge accounting [Member]                
Disclosure of detailed information about hedges [line items]                
Other comprehensive income, net of taxes   0            
Change in OCI   0            
Statements of operations - Finance cost   (1,863,000)            
Change in fair value of financial instruments   $ (748,000)            
Itau Bank [member] | BRL, selling currency | Interest rate swaps                
Disclosure of detailed information about hedges [line items]                
Maturity Date of Swap Contracts   Dec. 11, 2018            
Notional or Purchase currency   BRL            
Index   BRL CDI            
Notional in contract currency | R$       R$ 135,000        
Fair value assets               (1,212,000)
Other comprehensive income, net of taxes   $ 0            
Change in OCI   (781,000)            
Statements of operations - Finance cost   954,000            
Change in fair value of financial instruments   $ 0            
Goldman Sachs Bank [member] | USD, Selling currency | Currency Swap Contract - do not qualify for hedge accounting [Member]                
Disclosure of detailed information about hedges [line items]                
Maturity Date of Swap Contracts   Aug. 10, 2022            
Notional or Purchase currency   USD            
Notional in contract currency | R$       R$ 754,440        
Fair value assets               748,000
Other comprehensive income, net of taxes   $ 0            
Change in OCI   0            
Statements of operations - Finance cost   0            
Change in fair value of financial instruments   $ (748,000)            
ABC Brasil SA [member] | BRL, selling currency | Currency Swap Contract - do not qualify for hedge accounting [Member]                
Disclosure of detailed information about hedges [line items]                
Maturity Date of Swap Contracts   Nov. 24, 2017            
Notional or Purchase currency   BRL            
Notional in contract currency               12,232,000
Fair value assets               0
Other comprehensive income, net of taxes   $ 0            
Change in OCI   0            
Statements of operations - Finance cost   (1,863,000)            
Change in fair value of financial instruments   0            
Cashflow hedges | Interest rate swaps                
Disclosure of detailed information about hedges [line items]                
Fair value assets 0             0
Fair value liability $ 0             (1,212,000)
Net investment hedges                
Disclosure of detailed information about hedges [line items]                
Fair value assets               2,289,000
Other comprehensive income, net of taxes   (9,594,000)            
Change in OCI   (25,146,000)            
Statements of operations - Finance cost   0            
Change in fair value of financial instruments   $ 518,000            
Net investment hedges | Santander Bank [member] | MXN, selling currency                
Disclosure of detailed information about hedges [line items]                
Maturity Date of Swap Contracts   Jan. 20, 2018            
Notional or Purchase currency   USD            
Index   MXN            
Notional in contract currency               11,111,000
Fair value assets               0
Other comprehensive income, net of taxes   $ (2,113,000)            
Change in OCI   (2,411,000)            
Statements of operations - Finance cost   0            
Change in fair value of financial instruments   $ 21,000            
Net investment hedges | Santander Bank [member] | EUR, selling currency                
Disclosure of detailed information about hedges [line items]                
Maturity Date of Swap Contracts   Jan. 20, 2018            
Notional or Purchase currency   USD            
Index   EUR            
Notional in contract currency               20,000,000
Fair value assets               0
Other comprehensive income, net of taxes   $ 1,742,000            
Change in OCI   (2,522,000)            
Statements of operations - Finance cost   0            
Change in fair value of financial instruments   $ 88,000            
Net investment hedges | Goldman Sachs Bank [member] | MXN, selling currency                
Disclosure of detailed information about hedges [line items]                
Maturity Date of Swap Contracts   Jan. 20, 2018            
Notional or Purchase currency   USD            
Index   MXN            
Notional in contract currency               40,000,000
Fair value assets | €         € 0      
Other comprehensive income, net of taxes   $ (7,600,000)            
Change in OCI   (8,671,000)            
Statements of operations - Finance cost   0            
Change in fair value of financial instruments   $ (47,000)            
Net investment hedges | Goldman Sachs Bank [member] | EUR, selling currency                
Disclosure of detailed information about hedges [line items]                
Maturity Date of Swap Contracts   Jan. 20, 2018            
Notional or Purchase currency   USD            
Index   EUR            
Notional in contract currency               48,000,000
Fair value assets | €         0      
Other comprehensive income, net of taxes   $ 3,587,000            
Change in OCI   (5,452,000)            
Statements of operations - Finance cost   0            
Change in fair value of financial instruments   $ 217,000            
Net investment hedges | Goldman Sachs Bank [member] | PEN, selling currency                
Disclosure of detailed information about hedges [line items]                
Maturity Date of Swap Contracts   Jan. 18, 2018            
Notional or Purchase currency   USD            
Index   PEN            
Notional in contract currency               13,800,000
Fair value assets               84,000
Other comprehensive income, net of taxes   $ 19,000            
Change in OCI   (59,000)            
Statements of operations - Finance cost   0            
Change in fair value of financial instruments   $ 6,000            
Net investment hedges | Goldman Sachs Bank [member] | COP, selling currency                
Disclosure of detailed information about hedges [line items]                
Maturity Date of Swap Contracts   Jan. 18, 2018            
Notional or Purchase currency   USD            
Index   COP            
Notional in contract currency               7,200,000
Fair value assets               89,000
Other comprehensive income, net of taxes   $ (88,000)            
Change in OCI   (19,000)            
Statements of operations - Finance cost   0            
Change in fair value of financial instruments   $ (1,000)            
Net investment hedges | Goldman Sachs Bank [member] | USD, Selling currency                
Disclosure of detailed information about hedges [line items]                
Maturity Date of Swap Contracts   Aug. 22, 2018            
Notional or Purchase currency   PEN            
Index   USD            
Notional in contract currency | S/             S/ 194,460  
Fair value assets               (4,758,000)
Other comprehensive income, net of taxes   $ 4,758,000            
Change in OCI   (4,758,000)            
Statements of operations - Finance cost   0            
Change in fair value of financial instruments   $ 0            
Net investment hedges | Goldman Sachs Bank [member] | MXN-USD [Member]                
Disclosure of detailed information about hedges [line items]                
Maturity Date of Swap Contracts   Aug. 22, 2018            
Notional or Purchase currency   MXN            
Index   USD            
Notional in contract currency           $ 1,065,060    
Fair value assets               7,256,000
Other comprehensive income, net of taxes   $ (7,256,000)            
Change in OCI   7,256,000            
Statements of operations - Finance cost   0            
Change in fair value of financial instruments   $ 0            
Net investment hedges | Nomura International Bank [member] | MXN, selling currency                
Disclosure of detailed information about hedges [line items]                
Maturity Date of Swap Contracts   Jan. 20, 2018            
Notional or Purchase currency   USD            
Index   MXN            
Notional in contract currency               23,889,000
Fair value assets               0
Other comprehensive income, net of taxes   $ (4,357)            
Change in OCI   (5,358)            
Statements of operations - Finance cost   0            
Change in fair value of financial instruments   $ 105            
Net investment hedges | Nomura International Bank [member] | EUR, selling currency                
Disclosure of detailed information about hedges [line items]                
Maturity Date of Swap Contracts   Jan. 20, 2018            
Notional or Purchase currency   USD            
Index   EUR            
Notional in contract currency               22,000,000
Fair value assets               0
Other comprehensive income, net of taxes   $ 1,620            
Change in OCI   (2,476)            
Statements of operations - Finance cost   0            
Change in fair value of financial instruments   $ 99            
Net investment hedges | Nomura International Bank [member] | USD, Selling currency                
Disclosure of detailed information about hedges [line items]                
Maturity Date of Swap Contracts   Aug. 22, 2018            
Notional or Purchase currency   EUR            
Index   USD            
Notional in contract currency | €         € 34,109      
Fair value assets               7,256,000
Other comprehensive income, net of taxes   $ 382            
Change in OCI   (382)            
Statements of operations - Finance cost   0            
Change in fair value of financial instruments   $ 0            
Net investment hedges | BBVA Bank [member] | PEN, selling currency                
Disclosure of detailed information about hedges [line items]                
Maturity Date of Swap Contracts   Jan. 18, 2018            
Notional or Purchase currency   USD            
Index   PEN            
Notional in contract currency               55,200,000
Fair value assets               0
Other comprehensive income, net of taxes   $ 71,000            
Change in OCI   (229,000)            
Statements of operations - Finance cost   0            
Change in fair value of financial instruments   $ 23,000            
Net investment hedges | BBVA Bank [member] | COP, selling currency                
Disclosure of detailed information about hedges [line items]                
Maturity Date of Swap Contracts   Jan. 18, 2018            
Notional or Purchase currency   USD            
Index   COP            
Notional in contract currency               28,800,000
Fair value assets               $ 0
Other comprehensive income, net of taxes   $ (359,000)            
Change in OCI   (65,000)            
Statements of operations - Finance cost   0            
Change in fair value of financial instruments   $ 7,000            
[1]
(1) The year ended December 31, 2016 contains the impacts of the CVI termination. The reversal of the principal amount of 41,749 thousand U.S. dollars was recognized in "Other gains and own work capitalized", the interest reversal of 19,936 thousand U.S. dollars was recognized in "Finance costs" and the loss of 35,373 thousand U.S. dollars on the conversion of Argentine pesos to U.S. dollars was recognized in "Net foreign exchange loss".
v3.19.1
CASH AND CASH EQUIVALENTS (Details) - USD ($)
$ in Thousands
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash and cash equivalents [abstract]        
Deposits held at call $ 100,706 $ 111,495    
Short-term financial investments 32,820 30,267    
Total $ 133,526 $ 141,762 $ 194,035 $ 184,020
v3.19.1
FINANCIAL LIABILITIES (Details) - USD ($)
Dec. 31, 2018
Dec. 31, 2017
Disclosure of financial liabilities [line items]    
Derivative financial instruments $ 682,000 $ 5,140,000
CVIs   $ 216,626,000
v3.19.1
FINANCIAL LIABILITIES - PAYMENTS SCHEDULE (Details) - USD ($)
$ in Thousands
Dec. 31, 2018
Dec. 31, 2017
Disclosure of maturity analysis for non-derivative financial liabilities [line items]    
Senior Secured Notes $ 498,000 $ 522,500
Brazilian bonds-Debentures 18,647 28,170
Finance leases 5,527 10,498
Bank borrowings, undiscounted cash flows 40,748 60,588
CVIs   216,626
Trade and other payables 199,277  
Total financial liabilities 763,326 840,509
Year 1    
Disclosure of maturity analysis for non-derivative financial liabilities [line items]    
Senior Secured Notes 24,500 24,500
Brazilian bonds-Debentures 4,698 5,943
Finance leases 3,785 5,128
Bank borrowings, undiscounted cash flows 36,176 30,994
CVIs   208,532
Trade and other payables 184,886  
Total financial liabilities 254,045 275,097
Year 2    
Disclosure of maturity analysis for non-derivative financial liabilities [line items]    
Senior Secured Notes 24,500 24,500
Brazilian bonds-Debentures 4,378 5,566
Finance leases 1,691 4,261
Bank borrowings, undiscounted cash flows 3,726 24,225
CVIs   8,094
Trade and other payables 14,391  
Total financial liabilities 48,686 66,646
Year 3    
Disclosure of maturity analysis for non-derivative financial liabilities [line items]    
Senior Secured Notes 24,500 24,500
Brazilian bonds-Debentures 4,091 5,276
Finance leases 794 1,907
Bank borrowings, undiscounted cash flows 474 4,373
CVIs   0
Trade and other payables 0  
Total financial liabilities 29,859 36,056
Year 4    
Disclosure of maturity analysis for non-derivative financial liabilities [line items]    
Senior Secured Notes 424,500 24,500
Brazilian bonds-Debentures 3,759 4,901
Finance leases 384 887
Bank borrowings, undiscounted cash flows 372 558
CVIs   0
Trade and other payables 0  
Total financial liabilities 429,015 30,846
Year 5    
Disclosure of maturity analysis for non-derivative financial liabilities [line items]    
Senior Secured Notes 0 424,500
Brazilian bonds-Debentures 1,721 4,458
Finance leases 0 442
Bank borrowings, undiscounted cash flows 0 438
CVIs   0
Trade and other payables 0  
Total financial liabilities 1,721 429,838
More than 5 years    
Disclosure of maturity analysis for non-derivative financial liabilities [line items]    
Senior Secured Notes 0 0
Brazilian bonds-Debentures 0 2,026
Finance leases 0 0
Bank borrowings, undiscounted cash flows 0 0
CVIs   0
Trade and other payables 0  
Total financial liabilities $ 0 $ 2,026
v3.19.1
FINANCIAL LIABILITIES - REPAYMENTS SCHEDULE (Details)
$ in Thousands, R$ in Millions
12 Months Ended
Dec. 31, 2017
BRL (R$)
Dec. 31, 2018
USD ($)
Dec. 31, 2017
USD ($)
Disclosure of maturity analysis for non-derivative financial liabilities [line items]      
Debentures | $   $ 14,708 $ 21,055
Brazilian Subsidiary      
Disclosure of maturity analysis for non-derivative financial liabilities [line items]      
Perecentage of repayment of debentures, per original schedule 100.00%    
Perecentage of repayment of debentures, per new schedule 56.07%    
2014 [Member] | Brazilian Subsidiary      
Disclosure of maturity analysis for non-derivative financial liabilities [line items]      
Perecentage of repayment of debentures, per original schedule 7.00%    
2015 [Member] | Brazilian Subsidiary      
Disclosure of maturity analysis for non-derivative financial liabilities [line items]      
Perecentage of repayment of debentures, per original schedule 11.00%    
2016 | Brazilian Subsidiary      
Disclosure of maturity analysis for non-derivative financial liabilities [line items]      
Perecentage of repayment of debentures, per original schedule 15.00%    
Debentures R$ 915    
Early repayment of debentures R$ 100    
2017 | Brazilian Subsidiary      
Disclosure of maturity analysis for non-derivative financial liabilities [line items]      
Perecentage of repayment of debentures, per original schedule 18.00%    
Perecentage of repayment of debentures, per new schedule 7.07%    
2018 | Brazilian Subsidiary      
Disclosure of maturity analysis for non-derivative financial liabilities [line items]      
Perecentage of repayment of debentures, per original schedule 21.00%    
Perecentage of repayment of debentures, per new schedule 21.00%    
2019 | Brazilian Subsidiary      
Disclosure of maturity analysis for non-derivative financial liabilities [line items]      
Perecentage of repayment of debentures, per original schedule 28.00%    
Perecentage of repayment of debentures, per new schedule 28.00%    
v3.19.1
FINANCIAL DEBT WITH THIRD PARTIES (Details) - USD ($)
Dec. 31, 2018
Dec. 31, 2017
Disclosure of detailed information about borrowings [line items]    
Bank borrowing $ 39,498,000 $ 56,392,000
CVIs   216,626,000
Finance lease payables 5,527,000 10,498,000
Third parties debt [member]    
Disclosure of detailed information about borrowings [line items]    
Senior Secured Notes 390,507,000 388,818,000
Brazilian bonds-Debentures 11,163,000 16,797,000
Bank borrowing 4,387,000 27,878,000
Finance lease payables 2,369,000 6,238,000
Total non-current 408,426,000 439,731,000
Senior Secured Notes 9,528,000 9,528,000
Brazilian bonds-Debentures 3,545,000 4,258,000
Bank borrowing 35,111,000 28,514,000
Finance lease payables 3,158,000 4,260,000
Total current 51,342,000 46,560,000
TOTAL DEBT WITH THIRD PARTIES $ 459,768,000 $ 486,291,000
v3.19.1
FINANCIAL DEBT WITH THIRD PARTIES - MOVEMENT OF DEBT (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Disclosure of detailed information about borrowings [line items]      
Foreign exchange gain (loss) $ (29,015) [1] $ (23,427) $ (56,494)
Third parties debt [member]      
Disclosure of detailed information about borrowings [line items]      
Borrowings 486,291 534,935 575,566
New borrowing 58,462 474,465 235
Amortization (81,675) (534,460) (62,930)
Interest accrued 30,656 44,892 62,709
Interest paid 33,559 (44,168) (66,087)
Foreign exchange gain (loss) 0 0 (28,567)
Amortization (addition) fees   (4,415) 2,401
Translation differences 2,555 4,740 49,294
Borrowings   486,291 534,935
Senior Secured Notes | Third parties debt [member]      
Disclosure of detailed information about borrowings [line items]      
Borrowings 398,346 303,350 301,713
New borrowing 0 400,000 0
Amortization 0 (300,000) 0
Interest accrued 24,500 23,609 22,128
Interest paid 24,500 (23,361) (22,128)
Foreign exchange gain (loss) 0 0 0
Amortization (addition) fees   (5,252) 1,637
Translation differences 556 0 0
Borrowings   398,346 303,350
Brazilian bonds - Debentures | Third parties debt [member]      
Disclosure of detailed information about borrowings [line items]      
Borrowings 21,055 156,596 168,091
New borrowing 0 22,320 0
Amortization (3,543) (162,591) (44,356)
Interest accrued 1,809 15,373 33,013
Interest paid 1,920 (15,331) (36,598)
Foreign exchange gain (loss) 0 0 0
Amortization (addition) fees   837 764
Translation differences 2,568 3,851 35,682
Borrowings   21,055 156,596
Contingent Value Instrument [member] | Third parties debt [member]      
Disclosure of detailed information about borrowings [line items]      
New borrowing     0
Amortization     0
Interest accrued     0
Interest paid     0
Foreign exchange gain (loss)     (27,762)
Amortization (addition) fees     0
Translation differences     (792)
Finance lease payables | Third parties debt [member]      
Disclosure of detailed information about borrowings [line items]      
Borrowings 10,498 3,636 4,737
New borrowing 0 0 0
Amortization (4,221) (2,816) (542)
Interest accrued 856 425 303
Interest paid 856 (425) (303)
Foreign exchange gain (loss) 0 0 (805)
Amortization (addition) fees   0 0
Translation differences 770 (624) 246
Borrowings   10,498 3,636
Other borrowings | Third parties debt [member]      
Disclosure of detailed information about borrowings [line items]      
Borrowings 56,392 71,353 74,785
New borrowing 58,462 52,145 235
Amortization (73,911) (69,053) (18,032)
Interest accrued 3,491 5,485 7,265
Interest paid 6,283 (5,051) (7,058)
Foreign exchange gain (loss) 0 0 0
Amortization (addition) fees   0 0
Translation differences $ (1,339) 1,513 14,158
Borrowings   $ 56,392 $ 71,353
[1]
(1) The year ended December 31, 2016 contains the impacts of the CVI termination. The reversal of the principal amount of 41,749 thousand U.S. dollars was recognized in "Other gains and own work capitalized", the interest reversal of 19,936 thousand U.S. dollars was recognized in "Finance costs" and the loss of 35,373 thousand U.S. dollars on the conversion of Argentine pesos to U.S. dollars was recognized in "Net foreign exchange loss".
v3.19.1
FINANCIAL DEBT WITH THIRD PARTIES - SENIOR SECURED NOTES, DEBENTURES (Details)
R$ in Thousands, $ in Thousands
1 Months Ended 11 Months Ended 12 Months Ended
Jan. 29, 2013
Dec. 12, 2016
BRL (R$)
Dec. 12, 2016
USD ($)
Nov. 22, 2012
BRL (R$)
Dec. 31, 2017
USD ($)
Dec. 26, 2016
BRL (R$)
Dec. 26, 2016
USD ($)
Dec. 31, 2018
USD ($)
Nov. 22, 2012
USD ($)
Senior Secured Notes | Atento Luxco 1, S.A. [member]                  
Disclosure of detailed information about borrowings [line items]                  
Number of bonds 300,000                
Maturity Date January 29, 2020       Year 2019        
Senior Secured Notes | Atento Luxco 1, S.A. [member] | Level 1 member                  
Disclosure of detailed information about borrowings [line items]                  
Financial liabilities, at fair value         $ 305,921        
Senior Secured Notes | 2016                  
Disclosure of detailed information about borrowings [line items]                  
Maturity Date         Year 2020        
Senior Secured Notes | 2017                  
Disclosure of detailed information about borrowings [line items]                  
Maturity Date         Year 2022        
Brazilian bonds - Debentures                  
Disclosure of detailed information about borrowings [line items]                  
Maturity Date       December 12, 2019          
Debenture and bond, value       R$ 915,000         $ 365,000
Borrowings, interest rate basis       plus a spread of 3.70%          
Repayment of bonds and debentures   R$ 44,562 $ 13,673     R$ 100,000 $ 30,683    
Brazilian bonds - Debentures | Discounted cash flow                  
Disclosure of detailed information about borrowings [line items]                  
Financial liabilities, at fair value               $ 15,643  
Brazilian bonds - Debentures | 2016                  
Disclosure of detailed information about borrowings [line items]                  
Maturity Date         Year 2023        
v3.19.1
FINANCIAL DEBT WITH THIRD PARTIES - BANK BORROWING (Details)
د.م. in Thousands, R$ in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2017
BRL (R$)
Dec. 31, 2017
MAD (د.م.)
Dec. 31, 2017
USD ($)
Dec. 31, 2016
BRL (R$)
Dec. 31, 2016
MAD (د.م.)
Dec. 31, 2016
USD ($)
Foreign currency debt [Member] | Brazil Real [Member]            
Disclosure of detailed information about borrowings [line items]            
Borrowings | R$ R$ 232,547     R$ 291,573    
Foreign currency debt [Member] | Morocco, Dirhams [Member]            
Disclosure of detailed information about borrowings [line items]            
Borrowings | د.م.   د.م. 0     د.م. 1,121  
U.S. Dollars debt [member]            
Disclosure of detailed information about borrowings [line items]            
Borrowings     $ 71,353     $ 74,783
U.S. Dollars debt [member] | Brazil Real [Member]            
Disclosure of detailed information about borrowings [line items]            
Borrowings     71,353     74,670
U.S. Dollars debt [member] | Morocco, Dirhams [Member]            
Disclosure of detailed information about borrowings [line items]            
Borrowings     $ 0     $ 113
Credit Facility [member]            
Disclosure of detailed information about borrowings [line items]            
Aggregate principal amount | R$ R$ 300,000          
Tranche A [member]            
Disclosure of detailed information about borrowings [line items]            
Borrowing ineterest rate spread Long-Term Interest Rate (Taxa de Juros de Longo Prazo — TJLP) plus 2.5% per annum          
Tranche B [member]            
Disclosure of detailed information about borrowings [line items]            
Borrowing ineterest rate spread SELIC Rate plus 2.5% per annum          
Tranche C [member]            
Disclosure of detailed information about borrowings [line items]            
Borrowing ineterest rate spread 4.0% per year          
Tranche D [member]            
Disclosure of detailed information about borrowings [line items]            
Borrowing ineterest rate spread 6.0% per year          
Tranche E [member]            
Disclosure of detailed information about borrowings [line items]            
Borrowing ineterest rate spread Long-Term Interest Rate (Taxa de Juros de Longo Prazo — TJLP)          
v3.19.1
FINANCIAL DEBT WITH THIRD PARTIES - BANK BORROWING AND CVI NARRATIVE (Details)
R$ in Thousands, $ in Thousands
3 Months Ended 12 Months Ended
Dec. 31, 2017
USD ($)
Dec. 31, 2018
USD ($)
m
Dec. 31, 2017
USD ($)
Dec. 31, 2016
USD ($)
Sep. 26, 2016
BRL (R$)
Sep. 26, 2016
USD ($)
Disclosure of detailed information about borrowings [line items]            
Other gains related to principle amount   $ 180 $ 372 $ 41,748    
Foreign exchange gain (loss)   $ (29,015) [1] $ (23,427) $ (56,494)    
New credit agreement with BNDES [member]            
Disclosure of detailed information about borrowings [line items]            
Undrawn credit facility         R$ 22,000 $ 5,703
Borrowing ineterest rate spread   The interest rate of this facility is Long-Term Interest Rate (Taxa de Juros de Longo Prazo - TJLP) plus 2.0% per annum        
Term of the credit faicility | m   48        
First payment due date   Sep. 15, 2018        
Last payment due date   Oct. 15, 2022        
CVI, senior obligations [member] | Argentinian subsidiary [Member]            
Disclosure of detailed information about borrowings [line items]            
Excess cash as a percentage of total cash available 90.00%   90.00%      
Other gains related to principle amount $ 41,700          
Reversal of finance costs 19,900          
Foreign exchange gain (loss) $ 35,400          
BNDES Credit Facility [Member]            
Disclosure of detailed information about borrowings [line items]            
Borrowings   $ 23,974        
Banco ABC Brasil [Member]            
Disclosure of detailed information about borrowings [line items]            
Borrowings, adjustment to interest rate basis   210.00%        
[1]
(1) The year ended December 31, 2016 contains the impacts of the CVI termination. The reversal of the principal amount of 41,749 thousand U.S. dollars was recognized in "Other gains and own work capitalized", the interest reversal of 19,936 thousand U.S. dollars was recognized in "Finance costs" and the loss of 35,373 thousand U.S. dollars on the conversion of Argentine pesos to U.S. dollars was recognized in "Net foreign exchange loss".
v3.19.1
FINANCIAL DEBT WITH THIRD PARTIES - SENIOR SECURED NOTES (Details) - USD ($)
$ in Thousands
Dec. 31, 2018
Dec. 31, 2017
Disclosure of detailed information about borrowings [line items]    
Senior Secured Notes, undiscounted cash flows $ 498,000 $ 522,500
v3.19.1
FINANCIAL DEBT WITH THIRD PARTIES - DEBENTURES (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Disclosure of detailed information about borrowings [line items]      
Finance costs $ 45,612 [1] $ 78,145 [1] $ 59,151
Brazilian bonds-Debentures $ 18,647 $ 28,170  
[1]
(1) The year ended December 31, 2016 contains the impacts of the CVI termination. The reversal of the principal amount of 41,749 thousand U.S. dollars was recognized in "Other gains and own work capitalized", the interest reversal of 19,936 thousand U.S. dollars was recognized in "Finance costs" and the loss of 35,373 thousand U.S. dollars on the conversion of Argentine pesos to U.S. dollars was recognized in "Net foreign exchange loss".
v3.19.1
FINANCIAL DEBT WITH THIRD PARTIES - BANK BORROWING ATENTO BRASIL SA (Details) - USD ($)
Mar. 04, 2019
Dec. 31, 2018
Sep. 03, 2018
Sep. 01, 2018
Aug. 10, 2017
Apr. 25, 2017
2017 Santander Bank Certificate            
Disclosure of detailed information about borrowings [line items]            
Borrowings, adjustment to interest rate basis   2.70%        
Notional amount $ 100,000 $ 25,800   $ 75,000   $ 80,000
Banco ABC Brasil [Member]            
Disclosure of detailed information about borrowings [line items]            
Borrowings, interest rate     340.00%      
Borrowings, adjustment to interest rate basis   210.00%        
Notional amount     $ 10,092,000      
Threshold Amount For Spread Rate   $ 33,000,000        
Super Senior Revolving Credit Facility [Member]            
Disclosure of detailed information about borrowings [line items]            
Borrowings, adjustment to interest rate basis   425.00%        
Debt To Pro Forma EBITDA   0.35        
Threshold Percentage Of Draw   3500.00%        
BNDES Credit Facility [Member]            
Disclosure of detailed information about borrowings [line items]            
Borrowings   $ 23,974,000        
Common Revolving Credit Facility Line [Member]            
Disclosure of detailed information about borrowings [line items]            
Notional amount         $ 50,000  
v3.19.1
TRADE AND OTHER NON TRADE PAYABLES (Details) - USD ($)
Dec. 31, 2018
Dec. 31, 2017
Trade and other payables [abstract]    
Other payables $ 13,744,000 $ 7,750,000
Suppliers 647,000 344,000
Total non-current 14,391,000 8,094,000
Suppliers 74,616,000 92,216,000
Advances 2,296,000 1,862,000
Total current trade payables 76,912,000 94,078,000
Suppliers of fixed assets 26,003,000 15,598,000
Personnel 67,644,000 80,631,000
Other Payables 13,526,000 17,787,000
Current deposits from customers 789,000 438,000
Total current other non-trade payables 107,962,000 114,454,000
Total Current 184,874,000 208,532,000
Total $ 199,265,000 $ 216,626,000
v3.19.1
EQUITY - SHARE CAPITAL (Details) - USD ($)
$ in Thousands
Dec. 31, 2018
Dec. 31, 2017
Share capital $ 49 $ 48
v3.19.1
EQUITY - MEASUREMENT OF FAIR VALUE (Details)
6 Months Ended 11 Months Ended
Jul. 02, 2018
USD ($)
Jul. 03, 2017
USD ($)
Jul. 01, 2016
USD ($)
Dec. 03, 2014
USD ($)
Time Restricted Stock Units ("RSU") (equity settled) | 2014 plan [member] | TSR Tranche 1 [member]        
Disclosure of terms and conditions of share-based payment arrangement [line items]        
Stock price (USD)       $ 11.06
Strike price (USD)       $ 0.01
Time (years)       1
Risk free rate       18.00%
Expected volatility       4.11%
Dividend yield       2.00%
Value RSU in USD       $ 10.83
Time Restricted Stock Units ("RSU") (equity settled) | 2014 plan [member] | TSR Tranche 2 [member]        
Disclosure of terms and conditions of share-based payment arrangement [line items]        
Stock price (USD)       11.06
Strike price (USD)       $ 0.01
Time (years)       2
Risk free rate       0.57%
Expected volatility       4.11%
Dividend yield       2.00%
Value RSU in USD       $ 10.62
Time Restricted Stock Units ("RSU") (equity settled) | 2016 plan [member]        
Disclosure of terms and conditions of share-based payment arrangement [line items]        
Stock price (USD)     $ 9.07  
Strike price (USD)     $ 0.01  
Time (years)     2.5  
Risk free rate     0.86%  
Expected volatility     24.40%  
Dividend yield     0.01%  
Value RSU in USD     $ 9.06  
Time Restricted Stock Units ("RSU") (equity settled) | 2017 plan [member]        
Disclosure of terms and conditions of share-based payment arrangement [line items]        
Stock price (USD)   $ 11    
Strike price (USD)   $ 0.01    
Time (years)   2.5    
Risk free rate   1.51%    
Expected volatility   24.83%    
Dividend yield   0.01%    
Value RSU in USD   $ 10.99    
Time Restricted Stock Units ("RSU") (equity settled) | 2018 plan [Member]        
Disclosure of terms and conditions of share-based payment arrangement [line items]        
Stock price (USD) $ 7      
Strike price (USD) $ 0.01      
Time (years) 2.5      
Risk free rate 2.60%      
Expected volatility 23.05%      
Dividend yield 0.01%      
Value RSU in USD $ 6,989      
Extraordinary Time Restricted Stock Units ("RSU") (equity settled) | 2016 plan [member] | TSR Tranche 1 [member]        
Disclosure of terms and conditions of share-based payment arrangement [line items]        
Stock price (USD)     9.07  
Strike price (USD)     $ 0.01  
Time (years)     0.25  
Risk free rate     18.00%  
Expected volatility     36.29%  
Dividend yield     0.01%  
Value RSU in USD     $ 9.06  
Extraordinary Time Restricted Stock Units ("RSU") (equity settled) | 2016 plan [member] | TSR Tranche 2 [member]        
Disclosure of terms and conditions of share-based payment arrangement [line items]        
Stock price (USD)     9.07  
Strike price (USD)     $ 0.01  
Time (years)     1.5  
Risk free rate     85.00%  
Expected volatility     36.87%  
Dividend yield     0.01%  
Value RSU in USD     $ 9.06  
Performance RSU (equity settled) | 2014 plan [member] | TSR Tranche 1 [member]        
Disclosure of terms and conditions of share-based payment arrangement [line items]        
Stock price (USD)       11.06
Strike price (USD)       $ 19.97
Time (years)       3
Risk free rate       1.04%
Expected volatility       4.11%
Dividend yield       2.00%
Value RSU in USD       $ 0
Performance RSU (equity settled) | 2014 plan [member] | TSR Tranche 2 [member]        
Disclosure of terms and conditions of share-based payment arrangement [line items]        
Stock price (USD)       11.06
Strike price (USD)       $ 27.74
Time (years)       3
Risk free rate       1.04%
Expected volatility       4.11%
Dividend yield       2.00%
Value RSU in USD       $ 0
Performance RSU (equity settled) | 2014 plan [member] | Adjusted EBITDA Tranche [member]        
Disclosure of terms and conditions of share-based payment arrangement [line items]        
Stock price (USD)       11.06
Strike price (USD)       $ 0.01
Time (years)       3
Risk free rate       1.04%
Expected volatility       4.11%
Dividend yield       2.00%
Value RSU in USD       $ 10.41
v3.19.1
EQUITY - OUTSTANDING RSUS (Details)
4 Months Ended 5 Months Ended 6 Months Ended 9 Months Ended 12 Months Ended
Apr. 19, 2018
Jun. 02, 2017
Jul. 01, 2016
shares
Oct. 03, 2016
Oct. 01, 2015
Dec. 31, 2018
USD ($)
shares
Dec. 31, 2017
shares
Dec. 31, 2016
shares
Dec. 31, 2015
shares
Jul. 03, 2017
Disclosure of terms and conditions of share-based payment arrangement [line items]                    
Treasury Stock Shares Acquired           1,106,158        
Purchase Of Treasury Shares | $           $ (8,178,000)        
Treasury Stock Acquired Average Cost Per Share | $           $ 7.39        
2014 plan [member]                    
Disclosure of terms and conditions of share-based payment arrangement [line items]                    
Number of units outstanding                 871,649  
Forfeited [1]                 (871,649,000)  
Vested                 0  
2017 plan [member]                    
Disclosure of terms and conditions of share-based payment arrangement [line items]                    
Number of units outstanding           861,863        
2018 plan [Member]                    
Disclosure of terms and conditions of share-based payment arrangement [line items]                    
Number of units outstanding           1,060,220        
Time Restricted Stock Units ("RSU") (equity settled) | 2014 plan [member]                    
Disclosure of terms and conditions of share-based payment arrangement [line items]                    
Number of units outstanding             0 119,634 119,634  
Forfeited             (15,880)   (15,880,000) [2]  
Vested             (103,754)   (103,754,000) [3]  
Number Of Other Equity Instruments Exercised Or Vested In Sharebased Payment Arrangement         125,509          
Number Of Instruments Other Equity Instruments Granted         0          
Time Restricted Stock Units ("RSU") (equity settled) | 2016 plan [member]                    
Disclosure of terms and conditions of share-based payment arrangement [line items]                    
Number of units outstanding           1,109,338 1,148,625 1,367,896    
Forfeited           (39,287) [4] (219,271)      
Number Of Other Equity Instruments Exercised Or Vested In Sharebased Payment Arrangement       157,925            
Time Restricted Stock Units ("RSU") (equity settled) | 2016 Extraordinary Plan                    
Disclosure of terms and conditions of share-based payment arrangement [line items]                    
Number of units outstanding     82,157     0   0    
Forfeited               (27,986)    
Vested     (54,171) [5]         (54,171)    
Granted     82,157         82,157    
Time Restricted Stock Units ("RSU") (equity settled) | 2017 plan [member]                    
Disclosure of terms and conditions of share-based payment arrangement [line items]                    
Number of units outstanding           815,693 861,863     886,187
Forfeited [6]           (24,324)        
Number Of Instruments Other Equity Instruments Granted   29,300                
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod   1                
Time Restricted Stock Units ("RSU") (equity settled) | 2018 plan [Member]                    
Disclosure of terms and conditions of share-based payment arrangement [line items]                    
Number of units outstanding           1,060,220        
Number Of Instruments Other Equity Instruments Granted 23,232                  
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod 1                  
Performance RSU (equity settled) | 2014 plan [member]                    
Disclosure of terms and conditions of share-based payment arrangement [line items]                    
Number of units outstanding             0 871,649    
Forfeited             (871,649)      
[1]
(*) RSUs are forfeited during the year due to employees failing to satisfy the service or non-market performance conditions.
[2]
(*) RSUs are forfeited during the year due to employees failing to satisfy the service or non-market performance conditions.
[3]
(**) As of October 1, 2016, a total of 103,754 Time RSUs of the Time Restricted Stock Unit Award Agreement became vested and were exercised.
[4]
(*) RSUs are forfeited during the year due to employees failing to satisfy the service conditions.
[5]
(*) As of October 1, 2016, a total of 54,171 Time RSUs of the Time Restricted Stock Unit Award Agreement became vested and were exercised.
[6]
(*) RSUs are forfeited during the year due to employees failing to satisfy the service conditions.
v3.19.1
EQUITY - THE MOVEMENT OF THE RSUS (Details)
6 Months Ended 12 Months Ended
Jul. 01, 2016
shares
Dec. 31, 2018
shares
Dec. 31, 2017
shares
Dec. 31, 2016
shares
Dec. 31, 2015
shares
2014 plan [member]          
Disclosure of terms and conditions of share-based payment arrangement [line items]          
Balance, beginning 871,649     871,649  
Forfeited [1]         (871,649,000)
Vested         0
Balance, ending         871,649
2017 plan [member]          
Disclosure of terms and conditions of share-based payment arrangement [line items]          
Balance, ending   861,863      
2018 plan [Member]          
Disclosure of terms and conditions of share-based payment arrangement [line items]          
Balance, ending   1,060,220      
Time Restricted Stock Units ("RSU") (equity settled) | 2014 plan [member]          
Disclosure of terms and conditions of share-based payment arrangement [line items]          
Balance, beginning 119,634 0 119,634 119,634  
Forfeited     (15,880)   (15,880,000) [2]
Vested     (103,754)   (103,754,000) [3]
Balance, ending     0 119,634 119,634
Time Restricted Stock Units ("RSU") (equity settled) | 2014 plan [member] | ARGENTINA [Member]          
Disclosure of terms and conditions of share-based payment arrangement [line items]          
Balance, beginning   0 6,095    
Forfeited     (1,099)    
Vested     (4,996)    
Balance, ending     0 6,095  
Time Restricted Stock Units ("RSU") (equity settled) | 2014 plan [member] | BRAZIL [Member]          
Disclosure of terms and conditions of share-based payment arrangement [line items]          
Balance, beginning   0 49,564    
Forfeited     (13,510)    
Vested     (36,054)    
Balance, ending     0 49,564  
Time Restricted Stock Units ("RSU") (equity settled) | 2014 plan [member] | CHILE [Member]          
Disclosure of terms and conditions of share-based payment arrangement [line items]          
Balance, beginning   0 4,925    
Forfeited     (1)    
Vested     (4,924)    
Balance, ending     0 4,925  
Time Restricted Stock Units ("RSU") (equity settled) | 2014 plan [member] | SPAIN [Member]          
Disclosure of terms and conditions of share-based payment arrangement [line items]          
Balance, beginning   0 15,183    
Forfeited     49    
Vested     (15,232)    
Balance, ending     0 15,183  
Time Restricted Stock Units ("RSU") (equity settled) | 2014 plan [member] | FRANCE [Member]          
Disclosure of terms and conditions of share-based payment arrangement [line items]          
Balance, beginning   0 2,060    
Forfeited     (2,060)    
Vested     0    
Balance, ending     0 2,060  
Time Restricted Stock Units ("RSU") (equity settled) | 2014 plan [member] | GUATEMALA [Member]          
Disclosure of terms and conditions of share-based payment arrangement [line items]          
Balance, beginning   0 1,024    
Forfeited     (1)    
Vested     (1,023)    
Balance, ending     0 1,024  
Time Restricted Stock Units ("RSU") (equity settled) | 2014 plan [member] | MEXICO [Member]          
Disclosure of terms and conditions of share-based payment arrangement [line items]          
Balance, beginning   0 22,933    
Forfeited     (13,192)    
Vested     (9,741)    
Balance, ending     0 22,933  
Time Restricted Stock Units ("RSU") (equity settled) | 2014 plan [member] | MOROCCO [Member]          
Disclosure of terms and conditions of share-based payment arrangement [line items]          
Balance, beginning   0 1,468    
Forfeited     0    
Vested     (1,468)    
Balance, ending     0 1,468  
Time Restricted Stock Units ("RSU") (equity settled) | 2014 plan [member] | PERU [Member]          
Disclosure of terms and conditions of share-based payment arrangement [line items]          
Balance, beginning   0 2,602    
Forfeited     1,097    
Vested     (3,699)    
Balance, ending     0 2,602  
Time Restricted Stock Units ("RSU") (equity settled) | 2014 plan [member] | UNITED STATES [Member]          
Disclosure of terms and conditions of share-based payment arrangement [line items]          
Balance, beginning   0 13,780    
Forfeited     12,837    
Vested     (26,617)    
Balance, ending     0 13,780  
Time Restricted Stock Units ("RSU") (equity settled) | 2016 plan [member]          
Disclosure of terms and conditions of share-based payment arrangement [line items]          
Balance, beginning   1,148,625 1,367,896    
Forfeited   (39,287) [4] (219,271)    
Balance, ending   1,109,338 1,148,625 1,367,896  
Time Restricted Stock Units ("RSU") (equity settled) | 2016 plan [member] | ARGENTINA [Member]          
Disclosure of terms and conditions of share-based payment arrangement [line items]          
Balance, beginning   16,523 21,981    
Forfeited   14,592 (5,458)    
Balance, ending   31,115 16,523 21,981  
Time Restricted Stock Units ("RSU") (equity settled) | 2016 plan [member] | BRAZIL [Member]          
Disclosure of terms and conditions of share-based payment arrangement [line items]          
Balance, beginning   201,049 214,764    
Forfeited   (23,348) (13,715)    
Balance, ending   177,701 201,049 214,764  
Time Restricted Stock Units ("RSU") (equity settled) | 2016 plan [member] | CHILE [Member]          
Disclosure of terms and conditions of share-based payment arrangement [line items]          
Balance, beginning   61,525 67,395    
Forfeited   (3,392) (5,870)    
Balance, ending   58,133 61,525 67,395  
Time Restricted Stock Units ("RSU") (equity settled) | 2016 plan [member] | COLOMBIA [Member]          
Disclosure of terms and conditions of share-based payment arrangement [line items]          
Balance, beginning   10,940 10,940    
Forfeited   0 0    
Balance, ending   10,940 10,940 10,940  
Time Restricted Stock Units ("RSU") (equity settled) | 2016 plan [member] | SPAIN [Member]          
Disclosure of terms and conditions of share-based payment arrangement [line items]          
Balance, beginning   101,490 124,761    
Forfeited   54,063 (23,271)    
Balance, ending   155,553 101,490 124,761  
Time Restricted Stock Units ("RSU") (equity settled) | 2016 plan [member] | GUATEMALA [Member]          
Disclosure of terms and conditions of share-based payment arrangement [line items]          
Balance, beginning   798 0    
Forfeited   0 (798)    
Balance, ending   798 798 0  
Time Restricted Stock Units ("RSU") (equity settled) | 2016 plan [member] | MEXICO [Member]          
Disclosure of terms and conditions of share-based payment arrangement [line items]          
Balance, beginning   107,495 143,052    
Forfeited   (70,732) (35,557)    
Balance, ending   36,763 107,495 143,052  
Time Restricted Stock Units ("RSU") (equity settled) | 2016 plan [member] | PERU [Member]          
Disclosure of terms and conditions of share-based payment arrangement [line items]          
Balance, beginning   5,286 0    
Forfeited   3,392 (11,176)    
Balance, ending   8,678 5,286 0  
Time Restricted Stock Units ("RSU") (equity settled) | 2016 plan [member] | UNITED STATES [Member]          
Disclosure of terms and conditions of share-based payment arrangement [line items]          
Balance, beginning   643,519 143,052    
Forfeited   (13,862) (125,022)    
Balance, ending   629,657 643,519 143,052  
Time Restricted Stock Units ("RSU") (equity settled) | 2016 Extraordinary Plan          
Disclosure of terms and conditions of share-based payment arrangement [line items]          
Balance, beginning     0    
Forfeited       (27,986)  
Vested (54,171) [5]     (54,171)  
Granted 82,157     82,157  
Balance, ending 82,157 0   0  
Time Restricted Stock Units ("RSU") (equity settled) | 2016 Extraordinary Plan | UNITED STATES [Member]          
Disclosure of terms and conditions of share-based payment arrangement [line items]          
Balance, beginning     0    
Forfeited       (27,986)  
Vested       (54,171)  
Granted       82,157  
Balance, ending       0  
Time Restricted Stock Units ("RSU") (equity settled) | 2017 plan [member]          
Disclosure of terms and conditions of share-based payment arrangement [line items]          
Balance, beginning   861,863      
Forfeited [6]   (24,324)      
Balance, ending   815,693 861,863    
Time Restricted Stock Units ("RSU") (equity settled) | 2017 plan [member] | BRAZIL [Member]          
Disclosure of terms and conditions of share-based payment arrangement [line items]          
Balance, beginning   117,667      
Forfeited   (46,170)      
Balance, ending   71,497 117,667    
Time Restricted Stock Units ("RSU") (equity settled) | 2017 plan [member] | CHILE [Member]          
Disclosure of terms and conditions of share-based payment arrangement [line items]          
Balance, beginning   66,028      
Balance, ending   66,028 66,028    
Time Restricted Stock Units ("RSU") (equity settled) | 2017 plan [member] | SPAIN [Member]          
Disclosure of terms and conditions of share-based payment arrangement [line items]          
Balance, beginning   69,398      
Balance, ending   69,398 69,398    
Time Restricted Stock Units ("RSU") (equity settled) | 2017 plan [member] | UNITED STATES [Member]          
Disclosure of terms and conditions of share-based payment arrangement [line items]          
Balance, beginning   608,770      
Balance, ending   608,770 608,770    
Time Restricted Stock Units ("RSU") (equity settled) | 2018 plan [Member]          
Disclosure of terms and conditions of share-based payment arrangement [line items]          
Balance, ending   1,060,220      
Time Restricted Stock Units ("RSU") (equity settled) | 2018 plan [Member] | ARGENTINA [Member]          
Disclosure of terms and conditions of share-based payment arrangement [line items]          
Balance, ending   27,244      
Time Restricted Stock Units ("RSU") (equity settled) | 2018 plan [Member] | BRAZIL [Member]          
Disclosure of terms and conditions of share-based payment arrangement [line items]          
Balance, ending   282,743      
Time Restricted Stock Units ("RSU") (equity settled) | 2018 plan [Member] | CHILE [Member]          
Disclosure of terms and conditions of share-based payment arrangement [line items]          
Balance, ending   70,009      
Time Restricted Stock Units ("RSU") (equity settled) | 2018 plan [Member] | COLOMBIA [Member]          
Disclosure of terms and conditions of share-based payment arrangement [line items]          
Balance, ending   21,049      
Time Restricted Stock Units ("RSU") (equity settled) | 2018 plan [Member] | SPAIN [Member]          
Disclosure of terms and conditions of share-based payment arrangement [line items]          
Balance, ending   105,168      
Time Restricted Stock Units ("RSU") (equity settled) | 2018 plan [Member] | GUATEMALA [Member]          
Disclosure of terms and conditions of share-based payment arrangement [line items]          
Balance, ending   0      
Time Restricted Stock Units ("RSU") (equity settled) | 2018 plan [Member] | MEXICO [Member]          
Disclosure of terms and conditions of share-based payment arrangement [line items]          
Balance, ending   60,736      
Time Restricted Stock Units ("RSU") (equity settled) | 2018 plan [Member] | PERU [Member]          
Disclosure of terms and conditions of share-based payment arrangement [line items]          
Balance, ending   20,306      
Time Restricted Stock Units ("RSU") (equity settled) | 2018 plan [Member] | UNITED STATES [Member]          
Disclosure of terms and conditions of share-based payment arrangement [line items]          
Balance, ending   472,965      
Performance RSU (equity settled) | 2014 plan [member]          
Disclosure of terms and conditions of share-based payment arrangement [line items]          
Balance, beginning   0 871,649    
Forfeited     (871,649)    
Balance, ending     0 871,649  
Performance RSU (equity settled) | 2014 plan [member] | ARGENTINA [Member]          
Disclosure of terms and conditions of share-based payment arrangement [line items]          
Balance, beginning   0 18,229    
Forfeited     (18,229)    
Balance, ending     0 18,229  
Performance RSU (equity settled) | 2014 plan [member] | BRAZIL [Member]          
Disclosure of terms and conditions of share-based payment arrangement [line items]          
Balance, beginning   0 306,743    
Forfeited     (306,743)    
Balance, ending     0 306,743  
Performance RSU (equity settled) | 2014 plan [member] | CHILE [Member]          
Disclosure of terms and conditions of share-based payment arrangement [line items]          
Balance, beginning   0 48,345    
Forfeited     (48,345)    
Balance, ending     0 48,345  
Performance RSU (equity settled) | 2014 plan [member] | SPAIN [Member]          
Disclosure of terms and conditions of share-based payment arrangement [line items]          
Balance, beginning   0 94,371    
Forfeited     (94,371)    
Balance, ending     0 94,371  
Performance RSU (equity settled) | 2014 plan [member] | FRANCE [Member]          
Disclosure of terms and conditions of share-based payment arrangement [line items]          
Balance, beginning   0 3,845    
Forfeited     (3,845)    
Balance, ending     0 3,845  
Performance RSU (equity settled) | 2014 plan [member] | GUATEMALA [Member]          
Disclosure of terms and conditions of share-based payment arrangement [line items]          
Balance, beginning   0 1,911    
Forfeited     (1,911)    
Balance, ending     0 1,911  
Performance RSU (equity settled) | 2014 plan [member] | MEXICO [Member]          
Disclosure of terms and conditions of share-based payment arrangement [line items]          
Balance, beginning   0 102,938    
Forfeited     (102,938)    
Balance, ending     0 102,938  
Performance RSU (equity settled) | 2014 plan [member] | MOROCCO [Member]          
Disclosure of terms and conditions of share-based payment arrangement [line items]          
Balance, beginning   0 2,742    
Forfeited     (2,742)    
Balance, ending     0 2,742  
Performance RSU (equity settled) | 2014 plan [member] | PERU [Member]          
Disclosure of terms and conditions of share-based payment arrangement [line items]          
Balance, beginning   0 8,096    
Forfeited     (8,096)    
Balance, ending     0 8,096  
Performance RSU (equity settled) | 2014 plan [member] | UNITED STATES [Member]          
Disclosure of terms and conditions of share-based payment arrangement [line items]          
Balance, beginning   0 284,429    
Forfeited     (284,429)    
Balance, ending     0 284,429  
[1]
(*) RSUs are forfeited during the year due to employees failing to satisfy the service or non-market performance conditions.
[2]
(*) RSUs are forfeited during the year due to employees failing to satisfy the service or non-market performance conditions.
[3]
(**) As of October 1, 2016, a total of 103,754 Time RSUs of the Time Restricted Stock Unit Award Agreement became vested and were exercised.
[4]
(*) RSUs are forfeited during the year due to employees failing to satisfy the service conditions.
[5]
(*) As of October 1, 2016, a total of 54,171 Time RSUs of the Time Restricted Stock Unit Award Agreement became vested and were exercised.
[6]
(*) RSUs are forfeited during the year due to employees failing to satisfy the service conditions.
v3.19.1
TAX MATTERS - INCOME TAX - EXCLUDING DISCONTINUED OPERATIONS (Details) - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Reconciliation of average effective tax rate and applicable tax rate [abstract]      
Profit/(loss) before tax $ 33,900,000 $ (1,035,000) $ 8,564,000
Income tax applying the statutory tax rate (12,899,000) 310,000 (2,484,000)
Permanent differences (5,052,000) (12,635,000) (13,655,000)
Adjustments due to international tax rates 540,000 (445,000) 11,526,000
Tax credits 2,297,000 1,112,000 791,000
Tax Effect From Branches IncomeTax 1,700,000 (875,000) (1,385,000)
Change in federal statutory rate in Spain (a) 0 0 0
Other 0 0 0
Income tax expense 13,414,000 12,533,000 5,207,000
Current tax expense (24,426,000) (20,175,000) (22,852,000)
Deferred tax $ 11,012,000 $ 7,642,000 $ 17,645,000
v3.19.1
TAX MATTERS - INCOME TAX (Details) - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Reconciliation of average effective tax rate and applicable tax rate [abstract]      
Profit/(loss) before tax $ 33,900,000 $ (1,035,000) $ 8,564,000
Income tax applying the statutory tax rate (12,899,000) 310,000 (2,484,000)
Permanent differences (5,052,000) (12,635,000) (13,655,000)
Adjustments due to international tax rates 540,000 (445,000) 11,526,000
Tax credits 2,297,000 1,112,000 791,000
Tax Effect From Branches IncomeTax 1,700,000 (875,000) (1,385,000)
Change in federal statutory rate in Spain (a) 0 0 0
Other 0 0 0
Income tax expense 13,414,000 12,533,000 5,207,000
Current tax expense (24,426,000) (20,175,000) (22,852,000)
Deferred tax $ 11,012,000 $ 7,642,000 $ 17,645,000
v3.19.1
TAX MATTERS - DEFERRED TAX ASSETS AND LIABILITIES (Details) - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]      
Deferred tax assets, beginning balance $ 131,326,000 $ 118,342,000  
Deferred tax liabilities, Beginning balance 43,942,000 45,597,000  
Deferred tax assets, ending balance 125,163,000 131,326,000 $ 118,342,000
Deferred tax liabilities, ending balance 30,221,000 43,942,000 45,597,000
Unused tax losses [member]      
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]      
Deferred tax assets, beginning balance 29,663,000 16,954,000  
Transfers 0 (570,000) 0
Translation difference (6,938,000) 2,454,000 (15,000)
Deferred tax assets, ending balance 23,414,000 29,663,000 16,954,000
Deferred tax liabilities recognised due to busienss combination 0 714,000  
Unused tax losses [member] | Increase [Member]      
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]      
Income statement 2,246,000 17,671,000 11,376,000
Equity 0 0 0
Unused tax losses [member] | Decrease [Member]      
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]      
Income statement (1,557,000) (7,560,000) (2,859,000)
Equity 0 0 (4,747,000)
Unused tax credits [member]      
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]      
Deferred tax assets, beginning balance 5,381,000 3,694,000  
Transfers 0 0 0
Translation difference (1,684,000) 331,000 391,000
Deferred tax assets, ending balance 3,935,000 5,381,000 3,694,000
Deferred tax liabilities recognised due to busienss combination 0 0  
Unused tax credits [member] | Increase [Member]      
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]      
Income statement 310,000 2,171,000 875,000
Equity 0 0 0
Unused tax credits [member] | Decrease [Member]      
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]      
Income statement (72,000) (815,000) (56,000)
Equity 0 0 0
Temporary differences Assets [member]      
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]      
Deferred tax assets, beginning balance 96,282,000 97,694,000  
Transfers 0 0 0
Translation difference (2,327,000) 5,895,000 (3,487,000)
Deferred tax assets, ending balance 97,815,000 96,282,000 97,694,000
Deferred tax liabilities recognised due to busienss combination 0 1,652,000  
Temporary differences Assets [member] | Increase [Member]      
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]      
Income statement 16,768,000 17,881,000 23,084,000
Equity 0 0 1,984,000
Temporary differences Assets [member] | Decrease [Member]      
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]      
Income statement (12,908,000) (26,840,000) (16,041,000)
Equity 0 0 0
Temporary differences Liabilities [member]      
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]      
Deferred tax liabilities, Beginning balance 43,942,000 45,597,000  
Transfers 0 0 0
Translation difference 7,496,000 (1,194,000) 5,974,000
Deferred tax liabilities, ending balance 30,221,000 43,942,000 45,597,000
Deferred tax liabilities recognised due to busienss combination 0 (2,688,000)  
Temporary differences Liabilities [member] | Increase [Member]      
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]      
Income statement (569,000) (1,888,000) 0
Equity 0 0 0
Temporary differences Liabilities [member] | Decrease [Member]      
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]      
Income statement 6,794,000 7,022,000 1,266,000
Equity $ 0 $ 403,000 $ 3,224,000
v3.19.1
TAX MATTERS - RECOGNIZED AND UNRECOGNIZED DEFERRED TAX ASSETS AND LIABILITIES (Details) - USD ($)
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]      
Tax losses $ 23,414,000 $ 29,663,000  
Deductible temporary differences 97,815,000 96,282,000  
Tax credits for deductions 3,935,000 5,381,000  
Total deferred tax assets 125,163,000 131,326,000 $ 118,342,000
Total deferred tax liabilities 30,221,000 43,942,000 $ 45,597,000
Year 1      
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]      
Tax losses 12,804,000 2,431,000  
Deductible temporary differences 14,390,000 12,578,000  
Tax credits for deductions 1,220,000 1,266,000  
Total deferred tax assets 28,414,000 16,275,000  
Total deferred tax liabilities 236,000 4,436,000  
Year 2      
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]      
Tax losses 9,365,000 4,849,000  
Deductible temporary differences 15,801,000 14,018,000  
Tax credits for deductions 842,000 1,266,000  
Total deferred tax assets 26,008,000 20,133,000  
Total deferred tax liabilities 2,684,000 4,436,000  
Year 3      
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]      
Tax losses 1,245,000 5,368,000  
Deductible temporary differences 18,152,000 14,401,000  
Tax credits for deductions 581,000 1,266,000  
Total deferred tax assets 19,978,000 21,035,000  
Total deferred tax liabilities 4,696,000 4,436,000  
Year 4      
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]      
Tax losses 0 1,800,000  
Deductible temporary differences 24,736,000 15,065,000  
Tax credits for deductions 401,000 1,266,000  
Total deferred tax assets 25,137,000 18,131,000  
Total deferred tax liabilities 6,082,000 4,436,000  
Year 5      
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]      
Tax losses 0 749,000  
Deductible temporary differences 24,736,000 15,066,000  
Tax credits for deductions 276,000 317,000  
Total deferred tax assets 25,012,000 16,133,000  
Total deferred tax liabilities 7,038,000 4,436,000  
Year 6      
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]      
Tax losses 0 2,713,000  
Deductible temporary differences 0 8,075,000  
Tax credits for deductions 191,000 0  
Total deferred tax assets 191,000 10,788,000  
Total deferred tax liabilities 7,697,000 4,436,000  
Subsequent years [member]      
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]      
Tax losses 0 11,753,000  
Deductible temporary differences 0 17,079,000  
Tax credits for deductions 426,000 0  
Total deferred tax assets 426,000 28,831,000  
Total deferred tax liabilities $ 2,260,000 $ 17,326,000  
v3.19.1
TAX MATTERS - TAXES RECEIVABLES/PAYABLES (Details) - USD ($)
Dec. 31, 2018
Dec. 31, 2017
Receivables:    
Non-current indirect taxes $ 6,061,000 $ 7,282,000
Current indirect taxes 11,956,000 4,764,000
Current other taxes 8,019,000 7,308,000
Current income tax 26,421,000 21,969,000
Total 52,457,000 41,323,000
Payables:    
Non-current social security 3,145,000 1,025,000
Current indirect taxes 28,188,000 28,024,000
Current other taxes 50,323,000 58,142,000
Current income tax 10,615,000 8,058,000
Total $ 92,271,000 $ 95,249,000
v3.19.1
PROVISIONS AND CONTINGENCIES - MOVEMENTS IN PROVISIONS (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Non-current provisions for liabilities [member]    
Disclosure of other provisions [line items]    
Provisions, beginning balance $ 30,810 $ 30,394
Additions 22,074 18,474
Acquisitions through business combinations, other provisions 0 4,134
Payments (7,665) 6,520
Reversal (16,135) (10,687)
Transfers (81) (73)
Translations differences (4,466) (4,912)
Provisions, ending balance 24,537 30,810
Non-current provisions for taxes [member]    
Disclosure of other provisions [line items]    
Provisions, beginning balance 19,833 21,447
Additions 6,185 1,286
Acquisitions through business combinations, other provisions 0 2,274
Payments (243) 0
Reversal (6,354) (6,607)
Transfers 82 2,108
Translations differences (2,632) (675)
Provisions, ending balance 16,871 19,833
Non-current provisions for dismantling [member]    
Disclosure of other provisions [line items]    
Provisions, beginning balance 9,249 15,338
Additions 994 1,416
Acquisitions through business combinations, other provisions 0 0
Payments (1) (48)
Reversal (174) (7,382)
Transfers (383) 0
Translations differences (1,255) (75)
Provisions, ending balance 8,430 9,249
Non-current other provisions [member]    
Disclosure of other provisions [line items]    
Provisions, beginning balance 1,294 2,716
Additions 371 944
Acquisitions through business combinations, other provisions 0 0
Payments (151) (2,382)
Reversal (1,044) (2,733)
Transfers (1) (2,035)
Translations differences 867 4,784
Provisions, ending balance 1,336 1,294
Current provisions for liabilities [member]    
Disclosure of other provisions [line items]    
Provisions, beginning balance 10,543 8,160
Additions 4,015 8,197
Acquisitions through business combinations, other provisions 0 0
Payments (2,139) (2,479)
Reversal (479) (104)
Transfers 0 0
Translations differences (2,920) (3,231)
Provisions, ending balance 9,020 10,543
Current provisions for taxes [member]    
Disclosure of other provisions [line items]    
Provisions, beginning balance 5,641 1,006
Additions 0 4,580
Acquisitions through business combinations, other provisions 0 0
Payments 0 0
Reversal (2,959) 0
Transfers 0 0
Translations differences (227) 55
Provisions, ending balance 2,455 5,641
Current provisions for dismantling [member]    
Disclosure of other provisions [line items]    
Provisions, beginning balance 0 213
Additions 19 1
Acquisitions through business combinations, other provisions 0 0
Payments 0 6
Reversal (312) (219)
Transfers 383 0
Translations differences (30) (1)
Provisions, ending balance 60 0
Current other provisions [member]    
Disclosure of other provisions [line items]    
Provisions, beginning balance 2,884 5,339
Additions 6,925 988
Acquisitions through business combinations, other provisions 0 0
Payments (65) (5,181)
Reversal (2,002) (15)
Transfers 0 0
Translations differences (185) 1,754
Provisions, ending balance $ 7,515 $ 2,884
v3.19.1
PROVISIONS AND CONTINGENCIES - CONTINGENCY NARRATIVE (Details)
pure in Thousands, R$ in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2017
USD ($)
Dec. 31, 2016
USD ($)
Dec. 31, 2018
BRL (R$)
Dec. 31, 2018
USD ($)
Disclosure of contingent liabilities [line items]        
Payments in escrow related to legal claims   $ 42,217    
Possible [member]        
Disclosure of contingent liabilities [line items]        
Claim amount $ 162,701      
Atento Brasil [member]        
Disclosure of contingent liabilities [line items]        
Payments in escrow related to tax claims   $ 4,407    
Tax authorities | Atento Brasil [member] | Probable [member]        
Disclosure of contingent liabilities [line items]        
Number of claims 30      
Tax authorities | Atento Brasil [member] | Possible [member]        
Disclosure of contingent liabilities [line items]        
Claim amount       $ 39,498
Tax authorities | Atento Brasil [member] | Probable And Possible [member]        
Disclosure of contingent liabilities [line items]        
Number of claims 15      
Tax authorities | R Brasil Solucoes S.A. [member] | Possible [member]        
Disclosure of contingent liabilities [line items]        
Claim amount       450
Tax authorities | CBCC [member] | Probable [member]        
Disclosure of contingent liabilities [line items]        
Claim amount $ 1,470      
Labour related disputes | Atento Brasil [member]        
Disclosure of contingent liabilities [line items]        
Number of claims 11,486 14,750    
Claim amount       21,469
Labour related disputes | Atento Brasil [member] | Probable [member]        
Disclosure of contingent liabilities [line items]        
Claim amount     R$ 775 $ 337
Labour related disputes | Atento Mexico S.A. de CV [member] | Possible [member]        
Disclosure of contingent liabilities [line items]        
Claim amount $ 10,144      
Labour related disputes | R Brasil Solucoes S.A. [member] | Probable [member]        
Disclosure of contingent liabilities [line items]        
Claim amount $ 45      
Various | Atento Brasil [member] | Possible [member]        
Disclosure of contingent liabilities [line items]        
Number of claims 8      
Claim amount $ 5,953      
v3.19.1
REVENUE AND EXPENSES - REVENUE & EXPENSES - EXCLUDING DISCONTINUED OPERATIONS (Details) - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Disclosure Of Operating Segments [Line Items]      
Services rendered $ 1,818,180,000 $ 1,921,311,000  
Revenue 1,818,180,000 1,921,311,000 $ 1,757,498,000
Expenses by Nature [abstract]      
Other operating income 15,686,000 5,755,000 3,991,000
Grants 1,000,000 860,000 673,000
Income from indemnities and other non-recurring income 42,000 939,000 872,000
Gains on disposals of non-current assets 384,000 8,883,000 344,000
Total 19,377,000 16,437,000 5,880,000
Supplies [Abstract]      
Subcontracted Services Expense 10,630,000 26,885,000 29,940,000
Infrastructure Leases 13,856,000 11,889,000 3,376,000
Purchases of Materials 2,919,000 628,000 986,000
Communications 19,460,000 25,003,000 24,929,000
Expenses with Public Agency 1,051,000 1,156,000 1,204,000
Other 22,900,000 9,338,000 5,163,000
Service expense 70,816,000 74,899,000 65,598,000
Employee Benefit Expenses      
Wages and Salaries 1,024,094,000 1,076,810,000 1,014,830,000
Social Security (a) 130,161,000 131,524,000 120,923,000
Supplementary Pension Contributions 2,840,000 2,861,000 2,848,000
Termination benefits 26,510,000 33,744,000 34,654,000
Other welfare costs 181,576,000 184,137,000 136,646,000
Total 1,365,181,000 1,429,076,000 1,309,901,000
Depreciation and amortisation expense [abstract]      
Property, plant and equipment 36,566,000 49,226,000 46,448,000
Intangible Assets 58,679,000 55,195,000 50,916,000
Total 95,245,000 104,421,000 97,364,000
Other Operating Expense [Abstract]      
Services provided by third parties 202,543,000 202,146,000 193,213,000
Losses on disposal of fixed assets (817,000) (12,989,000) (1,432,000)
Taxes other than income tax 10,038,000 13,580,000 7,491,000
Other management expenses 2,560,000 7,933,000 11,879,000
Total $ 215,958,000 $ 236,648,000 214,015,000
Atento Morocco [member]      
Disclosure Of Operating Segments [Line Items]      
Services rendered [1]     $ 1,757,498,000
[1]
(*) Exclude discontinued operations - Morocco.
v3.19.1
REVENUE AND EXPENSES - REVENUE & EXPENSES (Details) - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Analysis of income and expense [abstract]      
Services rendered $ 1,818,180,000 $ 1,921,311,000  
Revenue 1,818,180,000 1,921,311,000 $ 1,757,498,000
Expenses by Nature [abstract]      
Other operating income 15,686,000 5,755,000 3,991,000
Grants 1,000,000 860,000 673,000
Income from indemnities and other non-recurring income 42,000 939,000 872,000
Gains on disposals of non-current assets 384,000 8,883,000 344,000
Gains On Disposals Of Property Plant And Equipment 2,265,000 0 0
Total 19,377,000 16,437,000 5,880,000
Supplies [Abstract]      
Subcontracted Services Expense 10,630,000 26,885,000 29,940,000
Infrastructure Leases 13,856,000 11,889,000 3,376,000
Purchases of Materials 2,919,000 628,000 986,000
Communications 19,460,000 25,003,000 24,929,000
Expenses with Public Agency 1,051,000 1,156,000 1,204,000
Other 22,900,000 9,338,000 5,163,000
Total 70,816,000 74,899,000 65,598,000
Employee Benefit Expenses      
Wages and Salaries 1,024,094,000 1,076,810,000 1,014,830,000
Social Security (a) 130,161,000 131,524,000 120,923,000
Supplementary Pension Contributions 2,840,000 2,861,000 2,848,000
Termination benefits 26,510,000 33,744,000 34,654,000
Other welfare costs 181,576,000 184,137,000 136,646,000
Total 1,365,181,000 1,429,076,000 1,309,901,000
Depreciation and amortisation expense [abstract]      
Property, plant and equipment 36,566,000 49,226,000 46,448,000
Intangible Assets 58,679,000 55,195,000 50,916,000
Total 95,245,000 104,421,000 97,364,000
Other Operating Expense [Abstract]      
Services provided by third parties 202,543,000 202,146,000 193,213,000
Losses on disposal of fixed assets (817,000) (12,989,000) (1,432,000)
Taxes other than income tax 10,038,000 13,580,000 7,491,000
Other management expenses 2,560,000 7,933,000 11,879,000
Total $ 215,958,000 $ 236,648,000 $ 214,015,000
v3.19.1
REVENUE AND EXPENSES - THIRD PARTIES (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
External services provided by other companies [abstract]      
Leases $ 67,902 $ 66,923 $ 63,014
Installation and maintenance 24,290 22,799 24,237
Lawyers and law firms 7,743 6,887 5,198
Tax advisory services 179 467 302
Consultants 8,372 8,578 8,056
Audits and other related services 1,576 2,677 2,493
Studies and work performed 65 7 76
Other external professional services 43,404 45,955 40,669
Publicity, advertising and public relations 5,332 5,458 6,089
Insurance premiums 548 636 207
Travel expenses 6,979 6,288 6,047
Utilities expense 27,142 27,392 28,743
Banking and similar services 1,771 1,391 1,006
Other 7,240 6,688 7,076
TOTAL 202,543 202,146 193,213
Finance Income [Abstract]      
Interest Income Third Parties 18,843 7,858 7,188
Total finance income 18,843 7,858 7,188
Interest costs [abstract]      
Interest paid to Group companies 0 0 0
Interest paid to third parties 43,351 71,404 75,090
Discounts to the present value of provisions and other liabilities 2,261 6,741 (15,939)
Total finance costs $ 45,612 [1] $ 78,145 [1] $ 59,151
[1]
(1) The year ended December 31, 2016 contains the impacts of the CVI termination. The reversal of the principal amount of 41,749 thousand U.S. dollars was recognized in "Other gains and own work capitalized", the interest reversal of 19,936 thousand U.S. dollars was recognized in "Finance costs" and the loss of 35,373 thousand U.S. dollars on the conversion of Argentine pesos to U.S. dollars was recognized in "Net foreign exchange loss".
v3.19.1
REVENUE AND EXPENSES - THIRD PARTIES - EXCLUDING DISCONTINUED OPERATIONS (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Finance Income [Abstract]      
Interest Income Third Parties $ 18,843 $ 7,858 $ 7,188
Total finance income 18,843 7,858 7,188
Interest costs [abstract]      
Interest paid to Group companies 0 0 0
Interest paid to third parties 43,351 71,404 75,090
Discounts to the present value of provisions and other liabilities 2,261 6,741 (15,939)
Total finance costs 45,612 [1] 78,145 [1] 59,151
Atento Morocco [member]      
Finance Income [Abstract]      
Interest Income Third Parties 18,843 7,858 7,188 [2]
Total finance income 18,843 7,858 7,188 [3]
Interest costs [abstract]      
Interest paid to Group companies 0 0 0 [2]
Interest paid to third parties (43,351) (71,404) 75,090 [2]
Discounts to the present value of provisions and other liabilities (2,261) (6,741) (15,939) [2]
Total finance costs $ (45,612) $ (78,145) $ 59,151 [1],[3]
[1]
(1) The year ended December 31, 2016 contains the impacts of the CVI termination. The reversal of the principal amount of 41,749 thousand U.S. dollars was recognized in "Other gains and own work capitalized", the interest reversal of 19,936 thousand U.S. dollars was recognized in "Finance costs" and the loss of 35,373 thousand U.S. dollars on the conversion of Argentine pesos to U.S. dollars was recognized in "Net foreign exchange loss".
[2]
(*) Exclude discontinued operations - Morocco.
[3]
(*) Exclude discontinued operations - Morocco.
v3.19.1
REVENUE AND EXPENSES - CHANGE IN FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Disclosure of financial assets [line items]      
Change in fair value of financial instruments, Gains $ 179 $ 230 $ 675
Losses on change in fair value of derivatives 0 0 0
Net 179 230 675
Net foreign exchange gain 66,026 63,596 32,245
Net foreign exchange loss (95,041) (87,023) (88,739)
Net (29,015) [1] (23,427) (56,494)
Loans and receivables [member]      
Disclosure of financial assets [line items]      
Net foreign exchange gain 2,928 38,220 868
Net foreign exchange loss (433) (57,187) (12,200)
Net 2,495 (18,967) (11,332)
Other financial transactions [member]      
Disclosure of financial assets [line items]      
Net foreign exchange gain 19,253 16,407 12,381
Net foreign exchange loss (29,786) (14,405) (45,784)
Net (10,533) 2,002 (33,403)
Current transactions [member]      
Disclosure of financial assets [line items]      
Net foreign exchange gain 43,845 8,969 18,996
Net foreign exchange loss (64,822) (15,431) (30,755)
Net $ (20,977) $ (6,462) $ (11,759)
[1]
(1) The year ended December 31, 2016 contains the impacts of the CVI termination. The reversal of the principal amount of 41,749 thousand U.S. dollars was recognized in "Other gains and own work capitalized", the interest reversal of 19,936 thousand U.S. dollars was recognized in "Finance costs" and the loss of 35,373 thousand U.S. dollars on the conversion of Argentine pesos to U.S. dollars was recognized in "Net foreign exchange loss".
v3.19.1
SEGMENT INFORMATION - MAJOR DATA (Details) - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Disclosure Of Operating Segments [Line Items]      
Sales $ 1,818,180,000 $ 1,921,311,000 $ 1,757,498,000
Other Operating Income (expense) 15,686,000 5,755,000 3,991,000
EBITDA 184,752,000 196,870,000 213,710,000
Amortization and depreciation 95,245,000 104,421,000 97,364,000
Operating profit/(loss) 89,505,000 92,449,000 116,346,000
Net finance expense (55,605,000) 93,484,000 (107,782,000)
Income tax 13,414,000 12,533,000 5,207,000
Profit/(loss) from continuing operations [1] 20,486,000 (13,568,000) 3,357,000 [2]
Profit (loss) from discontinued operations [1] 0 [3] 0 [3] (3,206,000) [2]
Profit/(loss) for the year 20,486,000 (13,568,000) 151,000
Restructuring costs 0 16,779,000 33,646,000
Shared Services Expense   0  
Sponsor Management Fees     (34,817,000)
Site relocation expenses     9,323,000
Asset impairments and Other 0   34,817,000
Adjusted EBITDA (unaudited) 184,752,000 220,966,000 221,862,000
Capital expenditure 89,885,000   48,166,000
Fixed assets 490,131,000 535,443,000 537,838,000
Allocated assets 1,213,353,000 1,330,305,000 1,377,618,000
Allocated liabilities 873,260,000 952,466,000 947,415,000
Sales to other companies      
Disclosure Of Operating Segments [Line Items]      
Sales 1,091,368,000 1,167,911,000 1,010,665,000
Sales to Telefonica Group      
Disclosure Of Operating Segments [Line Items]      
Sales 708,227,000 753,382,000 746,833,000
Sales to other group companies      
Disclosure Of Operating Segments [Line Items]      
Sales 18,584,000 18,000 0
EMEA [Member]      
Disclosure Of Operating Segments [Line Items]      
Sales 240,859,000 223,444,000 223,931,000
Other Operating Income (expense) (228,591,000) (215,860,000) (220,645,000) [4]
EBITDA 12,268,000 7,585,000 3,285,000 [4]
Amortization and depreciation (9,733,000) 9,340,000 10,712,000 [4]
Operating profit/(loss) 2,535,000 (1,755,000) (7,427,000) [4]
Net finance expense (1,620,000) (16,834,000) (12,319,000) [4]
Income tax (893,000) 5,031,000 4,933,000 [4]
Profit/(loss) from continuing operations [4]     (14,813,000)
Profit (loss) from discontinued operations [4]     (3,206,000)
Profit/(loss) for the year 22,000 (13,558,000) (18,019,000) [4]
Restructuring costs 0 3,831,000 10,390,000 [5]
Shared Services Expense   3,259,000  
Sponsor Management Fees [4]     2,709,000
Site relocation expenses [6]     18,000
Asset impairments and Other 0   2,709,000 [7]
Adjusted EBITDA (unaudited) 12,268,000 14,790,000 16,402,000 [8]
Capital expenditure 6,192,000   2,124,000 [9]
Fixed assets 42,766,000 49,101,000 48,342,000 [10]
Allocated assets 394,325,000 401,332,000 396,298,000 [10]
Allocated liabilities 122,784,000 126,575,000 272,082,000 [10]
EMEA [Member] | Sales to other companies      
Disclosure Of Operating Segments [Line Items]      
Sales 93,173,000 80,020,000 72,750,000 [11]
EMEA [Member] | Sales to Telefonica Group      
Disclosure Of Operating Segments [Line Items]      
Sales 147,686,000 143,424,000 151,176,000 [12]
EMEA [Member] | Sales to other group companies      
Disclosure Of Operating Segments [Line Items]      
Sales 0 1,000 4,000
Americas [Member]      
Disclosure Of Operating Segments [Line Items]      
Sales 708,744,000 758,041,000 718,917,000
Other Operating Income (expense) (652,531,000) (688,949,000) (596,963,000)
EBITDA 56,213,000 69,092,000 121,953,000
Amortization and depreciation (34,683,000) (37,640,000) 33,757,000
Operating profit/(loss) 21,530,000 31,452,000 88,196,000
Net finance expense (5,536,000) (13,206,000) (31,092,000)
Income tax (2,054,000) (9,667,000) (15,823,000)
Profit/(loss) from continuing operations     41,281,000
Profit (loss) from discontinued operations     0
Profit/(loss) for the year 13,940,000 8,579,000 41,281,000
Restructuring costs 0 8,473,000 10,562,000
Shared Services Expense   1,734,000  
Sponsor Management Fees     (40,668,000)
Site relocation expenses     168,000
Asset impairments and Other 0   40,668,000
Adjusted EBITDA (unaudited) 56,213,000 83,507,000 92,015,000
Capital expenditure 41,466,000   23,042,000
Fixed assets 195,369,000 178,485,000 189,036,000
Allocated assets 557,695,000 603,770,000 558,657,000
Allocated liabilities 254,150,000 280,575,000 259,352,000
Americas [Member] | Sales to other companies      
Disclosure Of Operating Segments [Line Items]      
Sales 388,889,000 435,195,000 394,961,000
Americas [Member] | Sales to Telefonica Group      
Disclosure Of Operating Segments [Line Items]      
Sales 293,945,000 317,849,000 322,237,000
Americas [Member] | Sales to other group companies      
Disclosure Of Operating Segments [Line Items]      
Sales 25,910,000 4,997,000 1,718,000
BRAZIL [Member]      
Disclosure Of Operating Segments [Line Items]      
Sales 877,661,000 944,806,000 816,373,000
Other Operating Income (expense) (794,148,000) (832,377,000) (717,683,000)
EBITDA 83,511,000 112,429,000 98,690,000
Amortization and depreciation (50,376,000) 56,908,000 (52,356,000)
Operating profit/(loss) 33,135,000 55,521,000 46,334,000
Net finance expense (30,309,000) (33,038,000) (40,074,000)
Income tax (1,422,000) (8,822,000) (3,070,000)
Profit/(loss) from continuing operations     3,190,000
Profit (loss) from discontinued operations     0
Profit/(loss) for the year 1,404,000 13,661,000 3,190,000
Restructuring costs 0 4,011,000 10,994,000
Shared Services Expense   8,155,000  
Sponsor Management Fees     2,131,000
Site relocation expenses     9,137,000
Asset impairments and Other 0   2,131,000
Adjusted EBITDA (unaudited) 83,511,000 124,714,000 120,952,000
Capital expenditure 42,226,000   23,000,000
Fixed assets 251,520,000 306,672,000 298,920,000
Allocated assets 595,807,000 677,149,000 677,794,000
Allocated liabilities 437,200,000 499,670,000 490,172,000
BRAZIL [Member] | Sales to other companies      
Disclosure Of Operating Segments [Line Items]      
Sales 609,307,000 652,696,000 542,953,000
BRAZIL [Member] | Sales to Telefonica Group      
Disclosure Of Operating Segments [Line Items]      
Sales 266,596,000 292,110,000 273,420,000
BRAZIL [Member] | Sales to other group companies      
Disclosure Of Operating Segments [Line Items]      
Sales 1,756,000 0 0
Other and eliminations      
Disclosure Of Operating Segments [Line Items]      
Sales [13] (9,084,000) (4,980,000) (1,723,000)
Other Operating Income (expense) 41,843,000 12,745,000 (8,497,000)
EBITDA 32,760,000 7,764,000 (10,218,000)
Amortization and depreciation (453,000) (533,000) (539,000)
Operating profit/(loss) 32,307,000 7,231,000 (10,757,000)
Net finance expense (18,140,000) (30,406,000) (24,297,000)
Income tax (9,046,000) 925,000 8,753,000
Profit/(loss) from continuing operations     (26,301,000)
Profit (loss) from discontinued operations     0
Profit/(loss) for the year 5,121,000 (22,250,000) (26,301,000)
Restructuring costs 0 464,000 1,700,000
Shared Services Expense   (13,148,000)  
Sponsor Management Fees     1,011,000
Site relocation expenses     0
Asset impairments and Other 0   1,011,000
Adjusted EBITDA (unaudited) 32,760,000 (2,045,000) (7,507,000)
Capital expenditure 1,000   0
Fixed assets 476,000 1,185,000 1,540,000
Allocated assets (334,475,000) (351,946,000) (255,131,000)
Allocated liabilities 59,126,000 45,646,000 (74,191,000)
Other and eliminations | Sales to other companies      
Disclosure Of Operating Segments [Line Items]      
Sales (1,000) 0 1,000
Other and eliminations | Sales to Telefonica Group      
Disclosure Of Operating Segments [Line Items]      
Sales 0 (1,000) 0
Other and eliminations | Sales to other group companies      
Disclosure Of Operating Segments [Line Items]      
Sales (9,082,000) (4,980,000) (1,722,000)
Other and eliminations | EMEA [Member]      
Disclosure Of Operating Segments [Line Items]      
Sales 0 (1,000) (25,000)
Other and eliminations | Americas [Member]      
Disclosure Of Operating Segments [Line Items]      
Sales $ (20,428,000) $ 17,375,000 $ 14,217,000 [14]
[1]

(1) A s of December 31, 20 17 , potential ordinary shares of 1,090,060 , relating to the stock option plan were excluded from the calculation of diluted loss per share as the loss in 2017 is anti-dilutive.

[2]

(*) E xclude discontinued operations – Moroc c o.

[3]
(**) Discontinued operations did not generate any income tax expense.
[4]
(*) Exclude discontinued operations - Morocco.
[5]
(*) Exclude discontinued operations - Morocco.
[6]
(*) Exclude discontinued operations - Morocco.
[7]
(*) Exclude discontinued operations - Morocco.
[8]
(*) Exclude discontinued operations - Morocco.
[9]
(*) Exclude discontinued operations - Morocco.
[10]
(*) Exclude discontinued operations - Morocco.
[11]
(*) Exclude discontinued operations - Morocco.
[12]
(*) Exclude discontinued operations - Morocco.
[13]
(*) Includes holding company level revenues and consolidation adjustments.
[14]
(*) Includes holding company level revenues and consolidation adjustments.
v3.19.1
SEGMENT INFORMATION - REVENUE (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Disclosure Of Operating Segments [Line Items]      
Revenue $ 1,818,180 $ 1,921,311 $ 1,757,498
EMEA [Member]      
Disclosure Of Operating Segments [Line Items]      
Revenue 240,859 223,444 223,931
EMEA [Member] | SPAIN [Member]      
Disclosure Of Operating Segments [Line Items]      
Revenue 240,859 223,445 223,956
Americas [Member]      
Disclosure Of Operating Segments [Line Items]      
Revenue 708,744 758,041 718,917
Americas [Member] | ARGENTINA [Member]      
Disclosure Of Operating Segments [Line Items]      
Revenue 134,557 142,473 119,589
Americas [Member] | CHILE [Member]      
Disclosure Of Operating Segments [Line Items]      
Revenue 112,679 97,196 80,106
Americas [Member] | COLOMBIA [Member]      
Disclosure Of Operating Segments [Line Items]      
Revenue 71,219 75,373 61,042
Americas [Member] | EL SALVADOR [member]      
Disclosure Of Operating Segments [Line Items]      
Revenue 14,260 12,527 16,741
Americas [Member] | UNITED STATES [Member]      
Disclosure Of Operating Segments [Line Items]      
Revenue 50,001 48,341 36,968
Americas [Member] | GUATEMALA [Member]      
Disclosure Of Operating Segments [Line Items]      
Revenue 16,195 16,732 15,771
Americas [Member] | MEXICO [Member]      
Disclosure Of Operating Segments [Line Items]      
Revenue 177,595 178,537 199,634
Americas [Member] | PERU [Member]      
Disclosure Of Operating Segments [Line Items]      
Revenue 136,266 151,681 151,755
Americas [Member] | PUERTO RICO [member]      
Disclosure Of Operating Segments [Line Items]      
Revenue 9,439 10,156 14,629
Americas [Member] | URUGUAY [member]      
Disclosure Of Operating Segments [Line Items]      
Revenue 2,866 3,184 3,475
Americas [Member] | PANAMA [member]      
Disclosure Of Operating Segments [Line Items]      
Revenue 4,095 4,466 4,990
BRAZIL [Member]      
Disclosure Of Operating Segments [Line Items]      
Revenue 877,661 944,806 816,373
Other and eliminations      
Disclosure Of Operating Segments [Line Items]      
Revenue [1] (9,084) (4,980) (1,723)
Other and eliminations | EMEA [Member]      
Disclosure Of Operating Segments [Line Items]      
Revenue 0 (1) (25)
Other and eliminations | Americas [Member]      
Disclosure Of Operating Segments [Line Items]      
Revenue $ (20,428) $ 17,375 $ 14,217 [2]
[1]
(*) Includes holding company level revenues and consolidation adjustments.
[2]
(*) Includes holding company level revenues and consolidation adjustments.
v3.19.1
EARNINGS/(LOSS) PER SHARE (Details) - USD ($)
$ / shares in Units, $ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
[2]
Result attributable to equity owners of the Company      
Atento's Profit/(loss) attributable to equity owners of the parent from continuing operations (in thousands of U.S. dollars) [1] $ 20,486 $ (13,568) $ 3,357
Atento's Loss attributable to equity owners of the parent from discontinued operations (in thousands of U.S. dollars) [1] $ 0 [3] $ 0 [3] $ (3,206)
Weigthed average number of ordinary shares 73,841,447,000 73,909,056,000 73,816,933,000
Basic earnings (loss) per share from continuing operations $ 0.28 $ (0.18) $ 0.05
Basic loss per share from discontinued operations (in U.S. dollars) $ 0 $ 0 $ (0.04)
Potential Increase Decrease In Shares Related To Sharebased Compensation Plan 936,616 0 272,791
Adjusted weighted average number of ordinary shares outstanding 74,778,063,000 73,909,056,000 74,089,724,000
Diluted (loss)/earnings per share from continuing operations (in U.S. dollars) $ 0.28 $ (0.18) $ 0.05
Diluted loss per share from discontinued operations (in U.S. dollars) $ 0 $ 0 $ (0.04)
[1]

(1) A s of December 31, 20 17 , potential ordinary shares of 1,090,060 , relating to the stock option plan were excluded from the calculation of diluted loss per share as the loss in 2017 is anti-dilutive.

[2]

(*) E xclude discontinued operations – Moroc c o.

[3]
(**) Discontinued operations did not generate any income tax expense.
v3.19.1
COMMITMENTS - GUARANTEES AND COMMITMENTS (Details) - USD ($)
$ in Thousands
Dec. 31, 2018
Dec. 31, 2017
Guarantees    
Financial, labor-related, tax and rental transactions $ 125,422 $ 156,579
Contractual Obligations 257,844 165,624
Other 20 30
Guarantees and commitments to third parties $ 383,286 $ 322,233
v3.19.1
COMMITMENTS - OPERATING LEASES (Details) - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Disclosure of finance lease and operating lease by lessee [line items]        
Total minimum future lease payments under non-cancellable operating leases $ 153,328,000 $ 240,112,000    
Total operating lease expenses recognized in the consolidated income statements (External services provided by other companies-Leases) 67,902,000 66,923,000 $ 63,014,000  
Total operating lease expenses recognized in the consolidated income statements (Infrastructure Leases) 13,856,000 11,889,000 3,376,000  
Contingent payments on operating leases   0 0 $ 0
Payment commitment for the early cancellation of leases 114,215,000 137,684,000 $ 122,480,000  
Up to 1 year [member]        
Disclosure of finance lease and operating lease by lessee [line items]        
Total minimum future lease payments under non-cancellable operating leases 41,217,000 63,178,000    
Between 1 and 5 years        
Disclosure of finance lease and operating lease by lessee [line items]        
Total minimum future lease payments under non-cancellable operating leases 81,735,000 124,913,000    
More than 5 years        
Disclosure of finance lease and operating lease by lessee [line items]        
Total minimum future lease payments under non-cancellable operating leases $ 30,376,000 $ 52,021,000    
v3.19.1
RELATED PARTIES (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
The total remuneration paid to the Atento Group's key management personnel      
Total $ 11,819 $ 5,232 $ 4,806
The breakdown of the total remuneration shown above is as follow:      
Salaries and variable remuneration 10,703 4,374 3,826
Salaries 9,524 3,303 3,826
Variable remuneration 1,179 1,071 0
Payment in kind 1,116 858 980
Medical insurance 206 138 117
Life insurance premiums 44 28 27
Key Management Personnel Compensation Other Shortterm Employee Benefits 866 692 836
Total $ 11,819 $ 5,232 $ 4,806
v3.19.1
EVENTS AFTER THE REPORTING PERIOD (Details)
$ in Thousands
Dec. 31, 2017
USD ($)
Possible [member]  
Disclosure Of Non adjusting Events After Reporting Period [LineItems]  
Tax assessment $ 162,701
v3.19.1
DISCONTINUED OPERATIONS - RESULTS (Details) - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Disclosure Of Operating Segments [Line Items]      
Revenue $ 1,818,180,000 $ 1,921,311,000 $ 1,757,498,000
Other income 19,377,000 [1] 16,437,000 [1] 5,880,000
Operating expenses:      
Service expense 70,816,000 74,899,000 65,598,000
Employee benefits expenses 1,365,181,000 1,429,076,000 1,309,901,000
Depreciation expense 36,566,000 49,226,000 46,448,000
Amortisation expense 58,679,000 55,195,000 50,916,000
Increase (decrease) in other provisions (1,032,000) (627,000) (1,902,000)
Other expenses, by nature 215,958,000 236,648,000 214,015,000
Profit (loss) from operating activities 89,505,000 92,449,000 116,346,000
Finance costs 45,612,000 [1] 78,145,000 [1] 59,151,000
Foreign exchange gain (loss) (29,015,000) [1] (23,427,000) (56,494,000)
Finance income (cost) (55,605,000) 93,484,000 (107,782,000)
Profit (loss) before tax 33,900,000 (1,035,000) 8,564,000
Profit (loss) 20,486,000 (13,568,000) 151,000
Profit (loss) from discontinued operations [2] 0 [3] 0 [3] (3,206,000) [4]
Cash flows from (used in) operating activities 81,187,000 114,452,000 141,946,000
Cash flows from (used in) investing activities (41,168,000) (90,943,000) (75,076,000)
Cash flows from (used in) financing activities (33,709,000) (84,348,000) (62,695,000)
Increase (decrease) in cash and cash equivalents before effect of exchange rate changes 6,310,000 (60,839,000) 4,175,000
Effect of exchange rate changes on cash and cash equivalents (14,546,000) 8,566,000 5,840,000
Cash and cash equivalents at beginning of year 141,762,000 194,035,000 184,020,000
Cash and cash equivalents at end of year $ 133,526,000 $ 141,762,000 $ 194,035,000
[1]
(1) The year ended December 31, 2016 contains the impacts of the CVI termination. The reversal of the principal amount of 41,749 thousand U.S. dollars was recognized in "Other gains and own work capitalized", the interest reversal of 19,936 thousand U.S. dollars was recognized in "Finance costs" and the loss of 35,373 thousand U.S. dollars on the conversion of Argentine pesos to U.S. dollars was recognized in "Net foreign exchange loss".
[2]

(1) A s of December 31, 20 17 , potential ordinary shares of 1,090,060 , relating to the stock option plan were excluded from the calculation of diluted loss per share as the loss in 2017 is anti-dilutive.

[3]
(**) Discontinued operations did not generate any income tax expense.
[4]

(*) E xclude discontinued operations – Moroc c o.