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BASIS OF PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS AND APPLICATION OF ACCOUNTING CRITERIA (Tables)

12 Months Ended

Dec. 31, 2021

BASIS OF PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS AND APPLICATION OF ACCOUNTING CRITERIA

Schedule of the list of subsidiaries included in the consolidation

​

​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	Ownership interest
​	​	​	​	12.31.2021					​	12.31.2020
Taxpayer ID		Company Name		Direct		Indirect		Total		Direct		Indirect		Total
59.144.140-K		Abisa Corp S.A. (1)		—		—		—		—		99.99		99.99
Foreign		Aconcagua Investing Ltda. (1)		—		—		—		0.70		99.28		99.98
96.842.970-1		Andina Bottling Investments S.A.		99.9		0.09		99.99		99.9		0.09		99.99
96.972.760-9		Andina Bottling Investments Dos S.A.		99.9		0.09		99.99		99.9		0.09		99.99
Foreign		Andina Empaques Argentina S.A.		—		99.98		99.98		—		99.98		99.98
96.836.750-1		Andina Inversiones Societarias S.A.		99.98		0.01		99.99		99.98		0.01		99.99
76.070.406-7		Embotelladora Andina Chile S.A.		99.99		—		99.99		99.99		—		99.99
Foreign		Embotelladora del Atlántico S.A.		0.92		99.07		99.99		0.92		99.07		99.99
96.705.990-0		Envases Central S.A.		59.27		—		59.27		59.27		—		59.27
Foreign		Paraguay Refrescos S.A.		0.08		97.75		97.83		0.08		97.75		97.83
76.276.604-3		Red de Transportes Comerciales Ltda.		99.9		0.09		99.99		99.9		0.09		99.99
77.427.659-9	​	Re-Ciclar S.A. (2)	​	60.00	​	—	​	60.00	​	—	​	—	​	—
Foreign		Rio de Janeiro Refrescos Ltda.		—		99.99		99.99		—		99.99		99.99
78.536.950-5		Servicios Multivending Ltda.		99.9		0.09		99.99		99.9		0.09		99.99
78.861.790-9		Transportes Andina Refrescos Ltda.		99.9		0.09		99.99		99.9		0.09		99.99
96.928.520-7		Transportes Polar S.A.		99.99		—		99.99		99.99		—		99.99
76.389.720-6		Vital Aguas S.A.		66.50		—		66.50		66.50		—		66.50
93.899.000-k		VJ S.A.		15.00		50.00		65.00		15.00		50.00		65.00

​

(1) These companies were merged into Andina Bottling Investments Dos S.A.

(2) Re-Ciclar S.A. is a company, whose purpose is to produce recycled resin for the Coca-Cola system and third parties

Schedule of companies that have a functional currency different from the presentation currency of the parent company

​

Company		Functional Currency
Embotelladora del Atlántico	​	Argentine Peso (ARS)
Embotelladora Andina	​	Chilean Peso (CLP)
Paraguay Refrescos	​	Paraguayan Guaraní (PYG)
Rio de Janeiro Refrescos	​	Brazil Real (BRL)

Schedule of exchange rates regarding the Chilean peso in effect at the end of each period

Exchange rates regarding the Chilean peso in effect at the end of each period are as follows:

​

​	​	​	​	​	​	​	​	​
Date		USD		BRL		ARS		PYG
12.31.2021	​	844.69	​	151.36	​	8.22	​	0.123
12.31.2020	​	710.95	​	136.80	​	8.44	​	0.103

Schedule of estimated useful lives by asset category

​

​	​	​
Assets		Range in years
Buildings		15-80
Plant and equipment		5-20
Warehouse installations and accessories		10-50
Furniture and supplies		4-5
Motor vehicles		4-10
Other Property, plant and equipment		3-10
Bottles and containers		2-5

Schedule of discount rates applied in annual test to the level of risk of the CGU

​

​	​	​	​	​	​
​	​	2021 Discount	​	2020 Discount
​		rates		rates
Argentina		27.2	%	28.1	%
Chile		7.1	%	7.2	%
Brazil		9.0	%	9.9	%
Paraguay		8.1	%	9.3	%

Schedule of changes in estimated useful lives

​

​	​	​	​	​
​		Previous range		New range
Assets		of years		of years
Buildings		15-80		15-80
Plant and equipment		5-20		5-20
Fixed and ancillary equipment		10-50		10-50
Furniture and fixtures		4-5		5
Vehicles		4-10		4-10
Other property, plant and equipment		3-10		5-10
Containers and cases		2-5		1-8

Schedule of amendments to IFRS that have been issued effective as of the date of these financial statements

​

​	​	​	​	​
	​	Amendments		Application date
IFRS 9, IAS 39, IFRS 7,IFRS 4 and IFRS 16		Interest Rate Benchmark Reform—Phase 2	​	January 1, 2021
IFRS 16		COVID-19-Related Rent Concessions	​	April 1, 2021

Schedule of New Standards, Interpretations and Amendments for annual periods

​

​	​	​	​	​
​		Standards and Interpretations		Mandatory application date
IFRS 17		Insurance Contracts	​	January 1, 2023

Summary of Amendments to IFRS which have been issued and will become in effect on January 1, 2023

​

​	​	​	​	​
​		Amendments		Date of application
IAS 1		Disclosure of Accounting Policies	​	January 1, 2023
IAS 1		Classification of liabilities as current or non-current	​	January 1, 2023
IFRS 3		Reference to the Conceptual Framework	​	January 1, 2022
IAS 16		Property, Plant and Equipment — Proceeds before Intended Use	​	January 1, 2022
IAS 37		Onerous Contracts—Cost of Fulfilling a Contract	​	January 1, 2022
IFRS 10 and IAS 28		Consolidated Financial Statements - sale or contribution of assets between an investor and its associate or joint venture	​	To be determined
IAS 12		Deferred taxes regarding assets and liabilities that arise from a single transaction	​	January 1, 2023
IAS 8		Definition of Accounting estimate	​	January 1, 2023

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