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INVESTMENTS IN ASSOCIATES ACCOUNTED FOR USING THE EQUITY METHOD (Tables)

12 Months Ended

Dec. 31, 2023

INVESTMENTS IN ASSOCIATES ACCOUNTED FOR USING THE EQUITY METHOD

Schedule of investments in associates using equity method of accounting

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		12.31.2023		12.31.2022		12.31.2023		12.31.2022
86.881.400-4		Envases CMF S.A. (1)		Chile		CLP		21,025,975		23,519,277		50.00	%	50.00	%
Foreign		Leão Alimentos e Bebidas Ltda. (2)		Brazil		BRL		10,636,778		8,460,307		10.26	%	10.26	%
Foreign		Kaik Participações Ltda. (2)		Brazil		BRL		1,551,253		1,293,219		11.32	%	11.32	%
Foreign		SRSA Participações Ltda.		Brazil		BRL		59,875		55,072		40.00	%	40.00	%
Foreign		Sorocaba Refrescos S.A.		Brazil		BRL		28,875,351		26,694,836		40.00	%	40.00	%
Foreign		Trop Frutas do Brasil Ltda. (2)		Brazil		BRL		885,062		1,971,055		7.52	%	7.52	%
76.572.588.7		Coca-Cola del Valle New Ventures S.A.		Chile		CLP		28,764,973		30,350,832		35.00	%	35.00	%
Total								91,799,267		92,344,598

(1)

In Envases CMF S.A., regardless of the 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.

Schedule of movement of investments in associates accounted for using the equity method


Description		12.31.2023		12.31.2022
		ThCh$		ThCh$
Opening balance		92,344,598		91,489,194
Dividends declared		(6,232,958)		(4,383,645)
Share in operating income		3,145,106		2,118,728
Other increase (decrease) in investments in associated companies (Impairment in Trop Frutas do Brasil Ltda.)		(1,615,050)		-
Other increase (decrease) in investments in associates*		4,157,571		3,120,321
Ending balance		91,799,267		92,344,598

*Mainly due to foreign exchange rates

Schedule of reconciliation of share of profit in investments in associates


Description		12.31.2023		12.31.2022		12.31.2021
		ThCh$		ThCh$		ThCh$
Share in operating income		3,145,106		2,118,728		4,041,118
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)		(428,937)		(568,767)		(512,131)
Amortization goodwill in the sale of fixed assets of Envases CMF S.A.						42,633
Amortization goodwill preferred rights CCDV S.A.		-		(140,892)		(478,518)
Income statement balance		2,716,169		1,409,069		3,093,102

Summary of financial information by associates

At December 31, 2023


		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		50,693,046		39,392,459		—		24,715		92,747,488		21,186,620		24,548,167
Long term assets		54,127,400		101,420,184		13,704,046		347,922		62,843,154		28,404,343		70,825,265
Total assets		104,820,446		140,812,643		13,704,046		372,637		155,590,642		49,590,963		95,373,432
Short term liabilities		35,045,849		22,951,428		—		222,950		22,924,938		14,104,874		13,188,225
Long term liabilities		27,722,647		46,453,440		34		—		16,678,828		13,212,410		—
Total liabilities		62,768,496		69,404,868		34		222,950		39,603,766		27,317,284		13,188,225
Total Equity		42,051,950		71,407,775		13,704,012		149,687		115,986,876		22,273,679		82,185,207
Total revenue from ordinary activities		92,308,940		—		983,452		146,063		84,624,940		55,434,136		29,385,365
Net income before taxes		5,923,727		58,931,149		983,452		146,063		5,657,251		(2,548,671)		(7,822,534)
Net income after taxes		4,755,373		(1,206,475)		—		146,063		2,529,341		(2,349,151)		(5,101,497)
Other comprehensive income		29,516		9,690,233		—		—		(93,593,890)		(58,242)		—
Total comprehensive income		4,784,889		8,483,758		983,452		146,063		(91,064,549)		(2,407,393)		(5,101,497)

Reporting date (See Note 2.3)		12.31.2023		11.30.2023		11.30.2023		11.302023		11.30.2023		11.30.2023		11.30.2023

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		22,399,824		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