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INVESTMENTS IN ASSOCIATES ACCOUNTED FOR USING THE EQUITY METHOD | 12 Months Ended
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Dec. 31, 2018
INVESTMENTS IN ASSOCIATES ACCOUNTED FOR USING THE EQUITY METHOD |
INVESTMENTS IN ASSOCIATES ACCOUNTED FOR USING THE EQUITY METHOD | NOTE 13 – INVESTMENTS IN ASSOCIATES ACCOUNTED FOR USING THE EQUITY METHOD 13.1 Balances Investments in associates using equity method of accounting are detailed as follows:
|  |  |  | Country of |  | Functional |  | Carrying Value |  | Percentage interest |
Taxpayer ID |  | Name |  | Incorporation |  | Currency |  | 12.31.2018 |  | 12.31.2017 |  | 12.31.2018 |  | 12.31.2017 |
|  |  |  |  |  |  |  | ThCh$ |  | ThCh$ |  | % |  | % |
86.881.400-4 |  | Envases CMF S.A. (1) |  | Chile |  | Chilean peso |  | 18,743,604 |  | 18,528,567 |  | 50.00 | % | 50.00 | %
Foreign |  | Leão Alimentos e Bebidas Ltda. (2) |  | Brazil |  | Brazilian real |  | 21,727,894 |  | 22,163,333 |  | 10.26 | % | 10.26 | %
Foreign |  | Kaik Participações Ltda. (2) |  | Brazil |  | Brazilian real |  | 1,228,256 |  | 1,228,350 |  | 11.32 | % | 11.32 | %
Foreign |  | SRSA Participações Ltda. |  | Brazil |  | Brazilian real |  | 94,706 |  | 189,290 |  | 40.00 | % | 40.00 | %
Foreign |  | Sorocaba Refrescos S.A. |  | Brazil |  | Brazilian real |  | 22,979,029 |  | 23,079,130 |  | 40.00 | % | 40.00 | %
Foreign |  | Trop Frutas do Brasil Ltda. (2) |  | Brazil |  | Brazilian real |  | 6,244,839 |  | 6,359,428 |  | 7.52 | % | 7.52 | %
76.572.588-7 |  | Coca Cola del Valle New Ventures S.A. |  | Chile |  | Chilean peso |  | 31,392,617 |  | 15,260,971 |  | 35.00 | % | 35.00 | %
|  | Total |  |  |  |  |  | 102,410,945 |  | 86,809,069 |  |  |  |  |
| (1) |  | In these company, regardless of the percentage of ownership interest, it was determined that no controlling interest was held, only a significant influence, given that there was not a majority vote of the Board of Directors to make strategic business decisions.
| (2) |  | In these companies, regardless of the percentage of ownership interest held, the Company has significant influence, given that it has a representative on each entity’s Board of Directors.
13.2 Movement The movement of investments in associates accounted for using the equity method is shown below:
Details |  | 12.31.2018 |  | 12.31.2017 |  | 12.31.2016
|  | ThCh$ |  | ThCh$ |  | ThCh$
Opening Balance |  | 86,809,069 |  | 77,197,781 |  | 54,190,546
Other Invesment increases in associates (Capital Contributions to Leao Alimentos e Bebidas Ltda and Coca Cola del Valle New Ventures S.A.) |  | 15,615,466 |  | 15,570,161 |  | 17,586,575
Dividends received |  | (403,414) |  | (1,540,090) |  | (750,806)
Share in operating income |  | 2,194,144 |  | 932,340 |  | 396,764
Unrealized income |  | 85,268 |  | 85,268 |  | 85,266
Increase (Decrease) due to foreign currency translation differences |  | (1,889,588) |  | (5,436,391) |  | 5,689,436
Ending Balance |  | 102,410,945 |  | 86,809,069 |  | 77,197,781
The main movements for the fiscal years ended December 31, 2018 and 2017, are the following:
| · |  | During fiscal years 2018 and 2017, Embotelladora Andina S.A. made capital contributions in Coca-Cola del Valle New Ventures S.A. in the amount of ThCh$15,615,466 and ThCh$10,185,000.
| · |  | During fiscal years 2018 and 2017, Envases CMF S.A., agreed to distribute dividends in the amount of thCh$403,414 and ThCh$1,540,090, respectively. Embotelladora Andina S.A. participates in those dividends pursuant to its ownership interest.
| · |  | During fiscal years 2018 and 2017 Sorocaba Refrescos S.A. did not distribute dividends.
| · |  | During fiscal year 2017, Leão Alimentos e Bebidas Ltda. carried out capital increases. Rio de Janeiro Refrescos Ltda. participated in these capital increases pursuant to its ownership interest for amounts of ThCh$5,385,161.
13.3 Reconciliation of share of profit in investments in associates:
Details |  | 12.31.2018 |  | 12.31.2017 |  | 12.31.2016
|  | ThCh$ |  | ThCh$ |  | ThCh$
Share of profit of investment accounted for using the equity method |  | 2,194,144 |  | 932,340 |  | 396,764
Unrealized earnings in inventory acquired from associates and not sold at the end of period, presented as a discount in the respective asset account (containers and/or inventories) |  | (868,233) |  | (1,097,968) |  | (744,612)
Amortization of Fair Value in Envases CMF S.A. |  | 85,268 |  | 85,268 |  | 85,266
Income Statement Balance |  | 1,411,179 |  | (80,360) |  | (262,582)
13.4 Summary financial information of associates: The following table presents summarized information regarding the Company´s equity investees as of December 31, 2018:
|  |  |  |  |  |  |  |  |  | Leão |  |  |  |
|  |  |  |  |  | Kaik |  | SRSA |  | Alimentos e |  | Trop Frutas |  | Coca-
|  | Envases |  | Sorocaba |  | Participaçōes |  | Participaçōes |  | Bebidas |  | do Brasil |  | Cola del Valle
|  | CMF S.A. |  | Refrescos S.A. |  | Ltda. |  | Ltda. |  | Ltda. |  | Ltda. |  | New Ventures S.A.
|  | ThCh$ |  | ThCh$ |  | ThCh$ |  | ThCh$ |  | ThCh$ |  | ThCh$ |  | ThCh$
Total assets |  | 78,714,139 |  | 106,598,837 |  | 10,850,626 |  | 513,823 |  | 257,149,411 |  | 96,963,355 |  | 101,275,213
Total liabilities |  | 40,800,603 |  | 49,151,318 |  | 34 |  | 277,055 |  | 57,538,296 |  | 21,568,158 |  | 11,582,021
Total revenue |  | 53,073,645 |  | 57,570,452 |  | 348,705 |  | 233,182 |  | 161,749,228 |  | 12,169,188 |  | 2,673,496
Net income (loss) of associate |  | 1,086,050 |  | 936,360 |  | 348,705 |  | 233,182 |  | 2,000,217 |  | 7,753,517 |  | 1,506,540
Reporting date |  | 12-31-2018 |  | 11-30-2018 |  | 11-30-2018 |  | 11-30-2018 |  | 11-30-2018 |  | 11-30-2018 |  | 12-31-2018
The following table presents summarized information regarding the Company´s equity investees as of December 31, 2017:
|  |  |  |  |  |  |  |  |  | Leão |  |  |  |
|  |  |  |  |  | Kaik |  | SRSA |  | Alimentos e |  | Trop Frutas |  | Coca-
|  | Envases |  | Sorocaba |  | Participaçōes |  | Participaçōes |  | Bebidas |  | do Brasil |  | Cola del Valle
|  | CMF S.A. |  | Refrescos S.A. |  | Ltda. |  | Ltda. |  | Ltda. |  | Ltda. |  | New Ventures S.A.
|  | ThCh$ |  | ThCh$ |  | ThCh$ |  | ThCh$ |  | ThCh$ |  | ThCh$ |  | ThCh$
Total assets |  | 74,308,406 |  | 111,697,833 |  | 10,851,460 |  | 473,226 |  | 282,895,158 |  | 88,327,243 |  | 48,190,779
Total liabilities |  | 36,654,412 |  | 54,000,005 |  | 35 |  | — |  | 79,689,080 |  | 11,407,361 |  | 4,594,308
Total revenue |  | 49,924,142 |  | 52,507,920 |  | — |  | 469,509 |  | 198,216,570 |  | 3,345,146 |  | —
Net income (loss) of associate |  | 2,405,060 |  | (1,541,788) |  | (137,007) |  | 469,509 |  | (157,266) |  | 1,927,488 |  | (248,532)
Reporting date |  | 12-31-2017 |  | 12-31-2017 |  | 12-31-2017 |  | 12-31-2017 |  | 12-31-2017 |  | 12-31-2017 |  | 11-30-2017

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