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INVESTMENTS IN ASSOCIATES ACCOUNTED FOR USING THE EQUITY METHOD | 12 Months Ended
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Dec. 31, 2022
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 14.1 Description ​ Investments in associates are accounted for using the equity method. Investments in associates are detailed as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Ownership |
​ | ​ | ​ | ​ | ​ | ​ | Functional | ​ | Investment value | ​ | interest | ​
TAXPAYER ID |  | Name |  | Country |  | currency |  | 12.31.2022 |  | 12.31.2021 |  | 12.31.2022 |  | 12.31.2021 |
86.881.400-4 |  | Envases CMF S.A. (1) |  | Chile |  | CLP |  | 23,519,277 | ​ | 21,863,790 | ​ | 50.00 | % | 50.00 | %
Foreign | ​ | Leão Alimentos e Bebidas Ltda. (2) | ​ | Brazil | ​ | BRL | ​ | 8,460,307 | ​ | 11,359,597 | ​ | 10.26 | % | 10.26 | %
Foreign | ​ | Kaik Participações Ltda. (2) | ​ | Brazil | ​ | BRL | ​ | 1,293,219 | ​ | 1,107,007 | ​ | 11.32 | % | 11.32 | %
Foreign | ​ | SRSA Participações Ltda. | ​ | Brazil | ​ | BRL | ​ | 55,072 | ​ | 51,615 | ​ | 40.00 | % | 40.00 | %
Foreign | ​ | Sorocaba Refrescos S.A. | ​ | Brazil | ​ | BRL | ​ | 26,694,836 | ​ | 24,258,224 | ​ | 40.00 | % | 40.00 | %
Foreign | ​ | Trop Frutas do Brasil Ltda. (2) | ​ | Brazil | ​ | BRL | ​ | 1,971,055 | ​ | 2,192,920 | ​ | 7.52 | % | 7.52 | %
76.572.588.7 | ​ | Coca-Cola del Valle New Ventures S.A. | ​ | Chile | ​ | CLP | ​ | 30,350,832 | ​ | 30,656,041 | ​ | 35.00 | % | 35.00 | %
Total |  | ​ |  |  |  |  |  | 92,344,598 | ​ | 91,489,194 | ​ | ​ |  |  | ​
| (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.
Envases CMF S.A. Chilean entity whose corporate purpose is to manufacture and sell plastic material products and beverage bottling and packaging services. The business relationship is to supply plastic bottles, preforms and caps to Coca-Cola bottlers in Chile. Leão Alimentos e Bebidas Ltda. Brazilian entity whose corporate purpose is to manufacture and commercialize food, beverages in general and beverage concentrates. Invest in other companies. The business relationship is to produce non-carbonated products for Coca-Cola bottlers in Brazil. Kaik Participações Ltda. Brazilian entity whose corporate purpose is to invest in other companies with its own resources. SRSA Participações Ltda. Brazilian entity whose corporate purpose is the purchase and sale of real estate investments and property management, supporting the business of Rio De Janeiro Refrescos Ltda. (Andina Brazil). Sorocaba Refrescos S.A. Brazilian entity whose corporate purpose is to manufacture and commercialize food, beverages in general and beverage concentrates, in addition to investing in other companies. It has commercial relationship with Rio de Janeiro Refrescos Ltda. (Andina Brazil). Trop Frutas do Brasil Ltda. Brazilian entity whose corporate purpose is to manufacture, commercialize and export natural fruit pulp and coconut water. The business relationship is to produce products for Coca-Cola bottlers in Brazil. Coca-Cola del Valle New Ventures S.A. Chilean entity whose corporate purpose is to manufacture, distribute and commercialize all kinds of juices, waters and beverages in general. The business relationship is to produce waters and juices for Coca-Cola bottlers in Chile. 14.2 Movements The movement of investments in other entities accounted for using the equity method is shown below: ​
​ | ​ | ​ | ​ | ​
Description |  | 12.31.2022 |  | 12.31.2021
​ | ​ | ThCh$ | ​ | ThCh$
Opening balance |  | 91,489,194 | ​ | 87,956,354
Dividends received | ​ | (4,383,645) | ​ | (3,236,541)
Share in operating income | ​ | 2,118,728 | ​ | 4,041,118
Amortization unrealized income in associates | ​ | — | ​ | (435,884)
Other increase (decrease) in investments in associates+ |  | 3,120,321 | ​ | 3,164,147
Ending balance |  | 92,344,598 | ​ | 91,489,194
​ *Mainly due to foreign exchange rates ​ The main movements are explained below:
| ● | Dividends declared in 2022 correspond to Envases CMF S.A.
| ● | Dividends declared in 2021 correspond to Sorocaba Refrescos S.A., Envases CMF S.A. and Coca-Cola del Valle New Ventures S.A.
| ● | In 2021 it was identified that for the brand Verde Campo (Trop Frutas do Brasil Ltda.) the recoverable value would be R$ 21.8 million, an amount below the book value recorded, proportionally impacting the result of Andina Brazil according to its participation (for more information see Note 2.8).
14.3 Reconciliation of share of profit in investments in associates: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
Description |  | 12.31.2022 |  | 12.31.2021 |  | 12.31.2020
​ | ​ | ThCh$ | ​ | ThCh$ | ​ | ThCh$
Share in operating income |  | 2,118,728 | ​ | 4,041,118 | ​ | 3,248,680
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) | ​ | (568,767) | ​ | (512,131) | ​ | (528,122)
Amortization goodwill in the sale of fixed assets of Envases CMF S.A. |  | — | ​ | 42,633 | ​ | 85,266
Amortization goodwill preferred rights CCDV S.A. |  | (140,892) | ​ | (478,518) | ​ | (523,061)
Income statement balance |  | 1,409,069 | ​ | 3,093,102 | ​ | 2,228,763
​ 14.4 Summary financial information of associates: The tables below reflects the amounts presented in the financial statements of the relevant associates and not the Company’s share of those amounts. At December 31, 2022 ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Envases CMF | ​ | Sorocaba Refrescos | ​ | Kaik Participaçōes | ​ | SRSA Participaçōes | ​ | Leão Alimentos e | ​ | Trop Frutas do Brasil | ​ | Coca-Cola del Valle New
​ |  | S.A. |  | S.A. |  | Ltda. |  | Ltda. |  | Bebidas Ltda. |  | Ltda. |  | Ventures S,A,
​ | ​ | ThCh$ | ​ | ThCh$ | ​ | ThCh$ | ​ | ThCh$ | ​ | ThCh$ | ​ | ThCh$ | ​ | ThCh$
Short term assets | ​ | 63,615,517 | ​ | 41,997,646 | ​ | — | ​ | 22,376 | ​ | 77,547,906 | ​ | 22,235,713 | ​ | 26,927,496
Long term assets | ​ | 52,964,004 | ​ | 89,524,823 | ​ | 11,424,515 | ​ | 317,159 | ​ | 54,195,351 | ​ | 27,128,282 | ​ | 75,247,746
Total assets | ​ | 116,579,521 | ​ | 131,522,469 | ​ | 11,424,515 | ​ | 339,535 | ​ | 131,743,257 | ​ | 49,363,995 | ​ | 102,175,242
Short term liabilities | ​ | 45,222,022 | ​ | 21,366,336 | ​ | — | ​ | 201,853 | ​ | 16,269,385 | ​ | 14,693,964 | ​ | 9,038,769
Long term liabilities | ​ | 24,318,944 | ​ | 45,013,681 | ​ | 31 | ​ | — | ​ | 11,698,126 | ​ | 12,270,207 | ​ | 5,480,067
Total liabilities | ​ | 69,540,966 | ​ | 66,380,017 | ​ | 31 | ​ | 201,853 | ​ | 27,967,511 | ​ | 26,964,171 | ​ | 14,518,836
Total Equity | ​ | 47,038,555 | ​ | 65,142,452 | ​ | 11,424,484 | ​ | 137,682 | ​ | 103,775,746 | ​ | 22,630,444 | ​ | 87,656,406
Total revenue from ordinary activities | ​ | 97,834,148 | ​ | -741 | ​ | 782,772 | ​ | 134,401 | ​ | 65,797,238 | ​ | 45,104,125 | ​ | 25,249,336
Net income before taxes | ​ | 6,640,224 | ​ | 478,458 | ​ | 782,772 | ​ | 134,401 | ​ | 3,804,172 | ​ | (5,105,685) | ​ | (896,914)
Net income after taxes | ​ | 5,517,062 | ​ | 243,170 | ​ | 782,772 | ​ | 134,401 | ​ | 1,427,601 | ​ | (5,067,707) | ​ | 163,561
Other comprehensive income | ​ | — | ​ | 9,680,320 | ​ | — | ​ | — | ​ | 1,522 | ​ | 275,534 | ​ | —
Total comprehensive income | ​ | 5,517,062 | ​ | 9,923,490 | ​ | 782,772 | ​ | 134,401 | ​ | 1,429,123 | ​ | (4,792,173) | ​ | 163,561
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Reporting date (See Note 2.3) | ​ | 12.31.2022 | ​ | 11.30.2022 | ​ | 11.30.2022 | ​ | 11.30.2022 | ​ | 11.30.2022 | ​ | 11.30.2022 | ​ | 12.31.2022
​ At December 31, 2021: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Envases CMF | ​ | Sorocaba Refrescos | ​ | Kaik Participaçōes | ​ | SRSA Participaçōes | ​ | Leão Alimentos e | ​ | Trop Frutas do Brasil | ​ | Coca-Cola del Valle New
​ |  | S.A. |  | S.A. |  | Ltda. |  | Ltda. |  | Bebidas Ltda. |  | Ltda. |  | Ventures S.A.
​ | ​ | ThCh$ | ​ | ThCh$ | ​ | ThCh$ | ​ | ThCh$ | ​ | ThCh$ | ​ | ThCh$ | ​ | ThCh$
Short term assets | ​ | 72,400,404 | ​ | 19,468,334 | ​ | — | ​ | 20,648 | ​ | 68,192,154 | ​ | 16,765,435 | ​ | 29,227,758
Long term assets | ​ | 42,875,230 | ​ | 92,639,217 | ​ | 9,779,486 | ​ | 294,662 | ​ | 50,034,496 | ​ | 33,021,014 | ​ | 75,706,352
Total assets | ​ | 115,275,634 | ​ | 112,107,551 | ​ | 9,779,486 | ​ | 315,310 | ​ | 118,226,650 | ​ | 49,786,449 | ​ | 104,934,110
Short term liabilities | ​ | 57,080,891 | ​ | 21,255,566 | ​ | — | ​ | 186,266 | ​ | 12,991,480 | ​ | 10,009,915 | ​ | 10,181,664
Long term liabilities | ​ | 14,467,165 | ​ | 34,960,269 | ​ | 28 | ​ | — | ​ | 6,489,944 | ​ | 18,294,787 | ​ | 7,164,058
Total liabilities | ​ | 71,548,056 | ​ | 56,215,834 | ​ | 28 | ​ | 186,266 | ​ | 19,481,425 | ​ | 28,304,702 | ​ | 17,345,722
Total Equity | ​ | 43,727,578 | ​ | 55,891,716 | ​ | 9,779,458 | ​ | 129,043 | ​ | 98,745,226 | ​ | 21,481,747 | ​ | 87,588,388
Total revenue from ordinary activities | ​ | 77,805,312 | ​ | (25,164,499) | ​ | 204,624 | ​ | 126,016 | ​ | 94,169,579 | ​ | 35,224,230 | ​ | 46,509,329
Earnings before taxes | ​ | 7,347,219 | ​ | 4,518,371 | ​ | 204,624 | ​ | 126,016 | ​ | 2,876,850 | ​ | (31,042,731) | ​ | 2,306,620
Earnings after taxes | ​ | 5,509,658 | ​ | 2,573,415 | ​ | 204,624 | ​ | 126,016 | ​ | 1,556,223 | ​ | (37,324,877) | ​ | 2,869,945
Other comprehensive income | ​ | — | ​ | 2,363,061 | ​ | — | ​ | — | ​ | 49,784 | ​ | 30,547,925 | ​ | —
Total comprehensive income | ​ | 5,509,658 | ​ | 4,936,476 | ​ | 204,624 | ​ | 126,016 | ​ | 1,606,007 | ​ | (6,776,952) | ​ | 2,869,945
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Reporting date (See Note 2.3) | ​ | 12.31.2021 | ​ | 11.30.2021 | ​ | 11.30.2021 | ​ | 11.30.2021 | ​ | 11.30.2021 | ​ | 11.30.2021 | ​ | 12.31.2021
​

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