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INVESTMENTS IN ASSOCIATES ACCOUNTED FOR USING THE EQUITY METHOD | 12 Months Ended
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Dec. 31, 2020
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 |  | 12.31.2020 |  | 12.31.2019 |  | 12.31.2020 |  | 12.31.2019 |
86.881.400-4 |  | Envases CMF S.A. (1) |  | Chile |  | CLP |  | 20,185,148 |  | 18,561,835 |  | 50.00 | % | 50.00 | %
Foreign |  | Leão Alimentos e Bebidas Ltda. (2) |  | Brazil |  | BRL |  | 10,628,035 |  | 17,896,839 |  | 10.26 | % | 10.26 | %
Foreign |  | Kaik Participações Ltda. (2) |  | Brazil |  | BRL |  | 979,978 |  | 1,313,498 |  | 11.32 | % | 11.32 | %
Foreign |  | SRSA Participações Ltda. |  | Brazil |  | BRL |  | 48,032 |  | 65,301 |  | 40.00 | % | 40.00 | %
Foreign |  | Sorocaba Refrescos S.A. |  | Brazil |  | BRL |  | 20,976,662 |  | 24,636,945 |  | 40.00 | % | 40.00 | %
Foreign |  | Trop Frutas do Brasil Ltda. (2) |  | Brazil |  | BRL |  | 4,695,228 |  | 6,250,481 |  | 7.52 | % | 7.52 | %
76.572.588.7 |  | Coca Cola del Valle New Ventures S.A. |  | Chile |  | CLP |  | 30,443,271 |  | 31,141,834 |  | 35.00 | % | 35.00 | %
Total |  |  |  |  |  |  |  | 87,956,354 |  | 99,866,733 |  |  |  |  |
| (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 ownership interest, it has been defined that the Company has significant influence, given that it has the right to appoint directors.
14.1 Movement The movement of investments in other entities accounted for using the equity method is shown below:
Description |  | 12.31.2020 |  | 12.31.2019 |  | 12.31.2018
|  | ThCh$ |  | ThCh$ |  | ThCh$
Opening balance |  | 99,866,733 |  | 102,410,945 |  | 86,809,069
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
Dividends received |  | (1,215,126) |  | (1,076,491) |  | (403,414)
Share in operating income |  | 3,248,680 |  | (2,495,621) |  | 2,194,144
Amortization unrealized income in associates |  | (566,422) |  | (919,462) |  | 85,268
Increase (decrease) in foreign currency translation, investments in associates |  | (13,377,511) |  | 1,947,362 |  | (1,889,588)
Ending balance |  | 87,956,354 |  | 99,866,733 |  | 102,410,945
The main movements are explained below:
| · |  | In 2020 Leão Alimentos e Bebidas Ltda. recognized the value of a plant at its value of use less the costs of sale, reducing the value previously recognized. Andina recognized as results for the 2020 period a proportional loss of CLP 2,931 million.
| · |  | In the 2020 period Sorocaba Refrescos S.A., recognized a tax credit for excluding ICMS from the PIS and COFINS calculation base. Andina recognized as results for the 2020 period a proportional result of CLP 2,134 million.
| · |  | Dividends declared in 2020 correspond mainly to Envases CMF S.A
| · |  | 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 |  | 12.31.2020 |  | 12.31.2019 |  | 12.31.2018
|  | ThCh$ |  | ThCh$ |  | ThCh$
Share of profit of investment accounted for using the equity method |  | 3,248,680 |  | (2,495,621) |  | 2,194,144
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) |  | (528,122) |  | (394,490) |  | (868,233)
Amortization goodwill in the sale of fixed assets of Envases CMF S.A. |  | 85,266 |  | 85,266 |  | 85,268
Amortization goodwill preferred rights CCDV S.A. |  | (523,061) |  | (610,238) |  | —
Income statement balance |  | 2,228,763 |  | (3,415,083) |  | 1,411,179
14.3 Summary financial information of associates: At December 31, 2020:
|  |  |  |  |  |  |  |  |  | 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 |  | 75,089,424 |  | 86,802,489 |  | 8,657,291 |  | 288,440 |  | 144,111,310 |  | 76,012,734 |  | 105,735,317
Total liabilities |  | 34,633,862 |  | 41,781,275 |  | 26 |  | 168,354 |  | 37,634,466 |  | 21,236,127 |  | 20,000,197
Total revenue |  | 40,455,562 |  | 45,021,214 |  | 8,657,265 |  | 120,086 |  | 144,111,310 |  | 54,776,607 |  | 85,735,120
Net income (loss) of associates |  | 4,717,515 |  | 664,208 |  | 96,980 |  | 117,350 |  | (39,244,393) |  | (890,021) |  | (475,467)
Reporting date |  | 12.31.2020 |  | 11.30.2020 |  | 11.30.2020 |  | 11.30.2020 |  | 11.30.2020 |  | 11.30.2020 |  | 12.31.2020
At December 31, 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 associates |  | 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

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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 2020-01-01 -Paragraph 10 -Subparagraph e -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2020-en-r&anchor=para_10_e&doctype=Standard -URIDate 2020-01-01 + Details
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