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Investments accounted for using equity method | 12 Months Ended
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Dec. 31, 2018
Disclosure of investments accounted for using equity method [Abstract] |
Disclosure of investments accounted for using equity method [text block] | Note 16 Investments accounted for using equity method Joint ventures and Associates As of December 31, 2018 and 2017 , the Company recorded investments qualifying as joint venture and associates. The share value of investments in joint ventures and associates are detailed as follows:
|  | Percentage of participation |  |  | As of December 31, 2018 |  |  | As of December 31, 2017 |
|  | % |  |  | ThCh $ |  |  | ThCh $ |
Cervecería Austral S.A. |  |  | 50.00 |  |  |  | 7,327,949 |  |  |  | 6,126,384 |
Foods Compañía de Alimentos CCU S.A. |  |  | 50.00 |  |  |  | 12,012,276 |  |  |  | 5,792,242 |
Central Cervecera de Colombia S.A.S. |  |  | 50.00 |  |  |  | 40,681,482 |  |  |  | 50,374,322 |
Zona Franca Central Cervecera S.A.S. |  |  | 50.00 |  |  |  | 80,766,534 |  |  |  | 20,696,077 |
Total joint ventures |  |  |  |  |  |  | 140,788,241 |  |  |  | 82,989,025 |
Bebidas Bolivianas BBO S.A. (1) |  |  | 34.00 |  |  |  | - |  |  |  | 14,641,870 |
Other companies (2) |  |  |  |  |  |  | 1,229,540 |  |  |  | 1,639,385 |
Total associates |  |  |  |  |  |  | 1,229,540 |  |  |  | 16,281,255 |
Total |  |  |  |  |  |  | 142,017,781 |  |  |  | 99,270,280 |
| (1) | See Note 15 – Business combinations, letter a) .
| (2) | See Note 15 – Business combinations, letter b) .
The above mentioned values include goodwill generated in the acquisition of the following joint venture and associate, which are presented net of any impairment loss:
|  | As of December 31, 2018 |  |  | As of December 31, 2017 |
|  | ThCh $ |  |  | ThCh $ |
Cervecería Austral S.A. |  |  | 1,894,770 |  |  |  | 1,894,770 |
Bebidas Bolivianas BBO S.A. (1) |  |  | - |  |  |  | 8,294,324 |
Total |  |  | 1,894,770 |  |  |  | 10,189,094 |
| (1) | See Note 15 – Business combinations, letter a) .
The result accrued in joint ventures and associates are detailed as follows:
|  | For the years ended as of December 31, |
|  | 2018 |  |  | 2017 |  |  | 2016 |
|  | ThCh $ |  |  | ThCh $ |  |  | ThCh $ |
Cervecería Austral S.A. |  |  | 1,638,811 |  |  |  | 952,235 |  |  |  | 754,326 |
Foods Compañía de Alimentos CCU S.A. |  |  | 792,376 |  |  |  | 165,905 |  |  |  | (519,536 | )
Central Cervecera de Colombia S.A.S. |  |  | (11,804,950 | ) |  |  | (8,646,651 | ) |  |  | (3,969,699 | )
Zona Franca Central Cervecera S.A.S. |  |  | (391,465 | ) |  |  | 87,583 |  |  |  | - |
Total joint ventures |  |  | (9,765,228 | ) |  |  | (7,440,928 | ) |  |  | (3,734,909 | )
Bebidas Bolivianas BBO S.A. (1) |  |  | (921,812 | ) |  |  | (1,459,916 | ) |  |  | (1,805,548 | )
Other companies (2) |  |  | (128,480 | ) |  |  | (13,253 | ) |  |  | (20,065 | )
Total associates |  |  | (1,050,292 | ) |  |  | (1,473,169 | ) |  |  | (1,825,613 | )
Total |  |  | (10,815,520 | ) |  |  | (8,914,097 | ) |  |  | (5,560,522 | )
| (1) | See Note 15 – Business combinations, letter a) .
| (2) | See Note 15 – Business combinations, letter b) .
Changes in investments in joint ventures and associates are detailed as follows:
|  | As of December 31, 2018 |  |  | As of December 31, 2017 |
|  | ThCh $ |  |  | ThCh $ |
Balance at the beginning of year |  |  | 99,270,280 |  |  |  | 64,404,946 |
Other payments to acquire interests in joint ventures |  |  | 59,505,559 |  |  |  | 49,312,890 |
Cash flows used to purchase non-controlling interests |  |  | - |  |  |  | 1,149,689 |
Participation in the joint ventures and associates (loss) |  |  | (10,815,520 | ) |  |  | (8,914,097 | )
Dividends received |  |  | (423,994 | ) |  |  | (353,150 | )
Business combinations (1) |  |  | (14,144,241 | ) |  |  | - |
Others |  |  | 8,625,697 |  |  |  | (6,329,998 | )
Total |  |  | 142,017,781 |  |  |  | 99,270,280 |
| (1) | See Note 15 – Business combinations, letter a) and b) .
Significant matters regarding investments accounted for using the equity method are detailed as follows:
(1) Cervecería Austral S.A. A closed stock company that operates as a beer manufacturing facility in the southern end of Chile, which is the southernmost brewery in the world. (2) Foods Compañía de Alimentos CCU S.A . (Foods), Foods, is a closed stock company that participated in the business of snacks and foods in Chile. At the end of 2015, Foods sold the Calaf and Natur brands to Empresas Carozzi S.A. In addition Foods was the main shareholder of Alimentos Nutrabien S.A. and owned the Nutra Bien brand. On December 17, 2018, Foods and subsidiary CCU Inversiones S.A. sold 100% of the shares of Alimentos Nutrabien S.A. to Ideal S.A. (3) Central Cervecera de Colombia S.A.S. and Zona Franca Central Cervecera S.A.S. On November 10, 2014, CCU, directly and through its subsidiaries CCU Inversiones II Limitada, and Grupo Postobón have established a joint arrangements through a company named Central Cervecera de Colombia S.A.S. (the "Company"), in which CCU and Grupo Postobón participate as equal shareholders. The purpose of this Company is the beer and non-alcoholic drinks production, marketing and distribution based on malt (Products). Subsequently, on August 16, 2017, CCU, through its subsidiary CCU Inversiones ll Limitada, acquired 50% of the shares of of a company incorporated in Colombia called Zona Franca Central Cervecera S.A.S. (ZF CC), which relates to a joint agreements and that qualifies as a joint operations, in which CCU and Grupo Postobon participate as equal shareholders. The amount of this transaction was US$ 10,204, equivalents to ThCh$ 6,432. The purpose of ZF CC is acting exclusively as industrial user of one or more free zones, providing tolling services to CCC, and this latter company will produce, market and distribute Products. For the purposes above, previous associations involves the construction of a beer production plant, with an annual total capacity of 3,000,000 hectoliters. The Parties will also invest in CCC and ZF CC an approximate amount of US$ 200,000,000 in equal parts, following a gradual investment plan agreed by the parties. As of December 31, 2018 and 2017, the total amount contributed to CCC and ZF CC was US$ 236,857,949 (equivalents to ThCh$ 153,149,320) and US$ 144,740,179 (equivalents to ThCh$ 93,643,761). The Company does not have any contingent liabilities related to joint ventures and associates as D ecember 31, 2018 . As of December 31, 2018, 2017 and 2016, the significant items of the financial statements of 100% of joint ventures and associates are summarized as follows:
|  | Joint ventures |  |  | Joint ventures |  |  | Associates |
|  | As of December 31, 2018 |  |  | As of December 31, 2017 |
|  | ThCh $ |  |  | ThCh $ |  |  | ThCh $ |
Assets and Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Current assets |  |  | 206,761,242 |  |  |  | 49,960,930 |  |  |  | 5,540,894 |
Non-current assets |  |  | 246,997,507 |  |  |  | 150,837,264 |  |  |  | 26,609,731 |
Current liabilities |  |  | 172,143,127 |  |  |  | 35,339,239 |  |  |  | 4,444,262 |
Non-current liabilities |  |  | 2,893,856 |  |  |  | 1,994,220 |  |  |  | 9,037,112 |
|  | Joint ventures |  |  | Joint ventures |  |  | Associates |  |  | Joint ventures |  |  | Associates |
|  | For the years ended as of December 31, |
|  | 2018 |  |  | 2017 |  |  | 2016 |
|  | ThCh $ |  |  | ThCh $ |  |  | ThCh $ |  |  | ThCh $ |  |  | ThCh $ |
Income Statement (Summarized) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  |  | 70,296,729 |  |  |  | 57,417,288 |  |  |  | 19,760,918 |  |  |  | 63,926,397 |  |  |  | 19,733,853 |
Operating result |  |  | (21,173,985 | ) |  |  | (18,606,383 | ) |  |  | (4,086,973 | ) |  |  | (11,913,526 | ) |  |  | (4,159,093 | )
Net income for year |  |  | (19,886,274 | ) |  |  | (14,352,788 | ) |  |  | (4,462,733 | ) |  |  | (7,287,727 | ) |  |  | (4,712,596 | )
Other comprehensive income |  |  | (24,720,721 | ) |  |  | (27,052,015 | ) |  |  | (5,761,515 | ) |  |  | (3,451,487 | ) |  |  | (7,965,214 | )
Depreciation and amortization |  |  | (2,656,715 | ) |  |  | (2,618,567 | ) |  |  | (2,818,923 | ) |  |  | (2,104,820 | ) |  |  | (2,698,849 | )

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