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INVESTMENTS IN ASSOCIATES ACCOUNTED FOR USING THE EQUITY METHOD | 12 Months Ended
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Dec. 31, 2019
INVESTMENTS IN ASSOCIATES ACCOUNTED FOR USING THE EQUITY METHOD |
INVESTMENTS IN ASSOCIATES ACCOUNTED FOR USING THE EQUITY METHOD | 14 – INVESTMENTS IN ASSOCIATES ACCOUNTED FOR USING THE EQUITY METHOD Investments in associates using equity method of accounting are detailed as follows:
|  |  |  |  |  | Functional |  | Investment value |  | Ownership interest |
Taxpayer ID |  | Company |  | Country |  | Currency |  | 12.31.2019 |  | 12.31.2018 |  | 12.31.2019 |  | 12.31.2018 |
|  |  |  |  |  |  |  | ThCh$ |  | ThCh$ |  |  |  |  |
86.881.400-4 |  | Envases CMF S.A. (1) |  | Chile |  | CLP |  | 18,561,835 |  | 18,743,604 |  | 50.00 | % | 50.00 | %
Foreign |  | Leão Alimentos e Bebidas Ltda. (2) |  | Brazil |  | BRL |  | 17,896,839 |  | 21,727,894 |  | 10.26 | % | 10.26 | %
Foreign |  | Kaik Participações Ltda. (2) |  | Brazil |  | BRL |  | 1,313,498 |  | 1,228,256 |  | 11.32 | % | 11.32 | %
Foreign |  | SRSA Participações Ltda. |  | Brazil |  | BRL |  | 65,301 |  | 94,706 |  | 40.00 | % | 40.00 | %
Foreign |  | Sorocaba Refrescos S.A. |  | Brazil |  | BRL |  | 24,636,945 |  | 22,979,029 |  | 40.00 | % | 40.00 | %
Foreign |  | Trop Frutas do Brasil Ltda. (2) |  | Brazil |  | BRL |  | 6,250,481 |  | 6,244,839 |  | 7.52 | % | 7.52 | %
76.572.588.7 |  | Coca-Cola del Valle New Ventures S.A. |  | Chile |  | CLP |  | 31,141,834 |  | 31,392,617 |  | 35.00 | % | 35.00 | %
Total |  |  |  |  |  |  |  | 99,866,733 |  | 102,410,945 |  |  |  |  |
| (1) |  | In Envases CMF S.A., 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.
14.1 Movement The movement of investments in other entities accounted for using the equity method is shown below:
Description |  | 12.31.2019 |  | 12.31.2018 |  | 12.31.2017
|  | ThCh$ |  | ThCh$ |  | ThCh$
Opening balance |  | 102,410,945 |  | 86,809,069 |  | 77,197,781
Other investment increases in associates (Capital contributions to Leão Alimentos e Bebidas Ltda. and Coca-Cola del Valle New Ventures S.A.) |  | — |  | 15,615,466 |  | 15,570,161
Dividends received |  | (1,076,491) |  | (403,414) |  | (1,540,090)
Share in operating income |  | (2,495,621) |  | 2,194,144 |  | 932,340
Amortization unrealized income in associates |  | (919,462) |  | 85,268 |  | 85,268
Increase (decrease) in foreign currency translation, investments in associates |  | 1,947,362 |  | (1,889,588) |  | (5,436,391)
Ending balance |  | 99,866,733 |  | 102,410,945 |  | 86,809,069
The main movements are explained below:
| · |  | In December 2019, Leão Alimentos e Bebidas Ltda. performed an impairment provision at its Linhares Plant for BRL 256 million. Andina recognized as results for the 2019 fiscal year, a loss of CLP 4,671 million.
| · |  | In 2019 Sorocaba Refrescos S.A., Coca-Cola del Valle and CMF distributed dividends.
| · |  | During 2018, Embotelladora Andina S.A. made a capital contribution in Coca-Cola del Valle New Ventures S.A. for CLP 15,615,466 thousand.
14.2 Reconciliation of share of profit in investments in associates:
Description |  | 12.31.2019 |  | 12.31.2018 |  | 12.31.2017
|  | ThCh$ |  | ThCh$ |  | ThCh$
Share of profit of investment accounted for using the equity method |  | (2,495,621) |  | 2,194,144 |  | 932,340
Unrealized earnings from product inventory acquired from associates and not sold at the end of the period, which is presented as a discount in the respective asset account (containers and / or inventory) |  | (394,490) |  | (868,233) |  | (1,097,968)
Amortization goodwill in the sale of fixed assets of Envases CMF S.A. |  | 85,266 |  | 85,268 |  | 85,268
Amortization goodwill preferred rights CCDV S.A. |  | (610,238) |  | — |  | —
Income statement balance |  | (3,415,083) |  | 1,411,179 |  | (80,360)
14.3 Summary financial information of associates: The following table presents summarized information regarding the Company’s equity investees as of December 2019:
|  |  |  |  |  |  |  |  |  | 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 |  | 77,994,582 |  | 116,551,131 |  | 11,661,828 |  | 393,856 |  | 248,493,994 |  | 104,778,397 |  | 107,388,847
Total liabilities |  | 39,826,283 |  | 54,650,105 |  | 35 |  | 229,780 |  | 38,137,061 |  | 27,158,470 |  | 18,693,717
Total revenue |  | 58,640,058 |  | 69,343,990 |  | 337,450 |  | 160,342 |  | 139,769,189 |  | 47,252,571 |  | 31,914,825
Net income (loss) of associate |  | 1,449,997 |  | 3,948,798 |  | 337,450 |  | 160,342 |  | 2,320,841 |  | (1,177,262) |  | 4,297,003
Reporting date |  | 12.31.2019 |  | 11.30.2019 |  | 11.30.2019 |  | 11.30.2019 |  | 11.30.2019 |  | 11.30.2019 |  | 11.30.2019
The following table presents summarized information regarding the Company’s equity investees as of December 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

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- Definition The disclosure of investments accounted for using the equity method. [Refer: Investments accounted for using equity method] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2019-01-01 -Paragraph 10 -Subparagraph e -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2019-en-r&anchor=para_10_e&doctype=Standard -URIDate 2019-03-27 + Details
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