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Investment Property
 12 Months Ended
Dec. 31, 2020
Disclosure of detailed information about investment property [abstract]  
Disclosure of investment property [text block]
Note 20
Investment Property
 
Investment property movements are detailed as follows:
 
 
Lands
Buildings
Total
ThCh$
ThCh$
ThCh$
As of January 1, 2019
 
 
 
Historic cost
6,725,253
2,737,318
9,462,571
Depreciation
-
(746,615)
(746,615)
Book Value
6,725,253
1,990,703
8,715,956
 
 
 
 
As of December 31, 2019
 
 
 
Additions
-
132,462
132,462
Divestitures
(695,289)
-
(695,289)
Depreciation
-
(64,088)
(64,088)
Conversion effect (depreciation)
(1,042,090)
(391,483)
(1,433,573)
Conversion effect
-
23,854
23,854
Other increases (decreases) (1)
1,191,644
442,308
1,633,952
Changes
(545,735)
143,053
(402,682)
Book Value
6,179,518
2,133,756
8,313,274
 
 
 
 
As of December 31, 2019
 
 
 
Historic cost
               6,179,518
               2,920,605
               9,100,123
Depreciation
                          -                          
(786,849)
(786,849)
Book Value
6,179,518
2,133,756
8,313,274
 
 
 
 
As of December 31, 2020
 
 
 
Additions (2)
76,136
100,952
177,088
Divestitures
(277,008)
(44,269)
(321,277)
Depreciation
-
(68,177)
(68,177)
Conversion effect (depreciation)
(1,142,449)
(410,633)
(1,553,082)
Conversion effect
-
29,665
29,665
Other increases (decreases) (1)
857,249
271,202
1,128,451
Changes
(486,072)
(121,260)
(607,332)
Book Value
5,693,446
2,012,496
7,705,942
 
 
 
 
As of December 31, 2020
 
 
 
Historic cost
5,693,446
2,837,857
8,531,303
Depreciation
-
(825,361)
(825,361)
Book Value
5,693,446
2,012,496
7,705,942
(1) Corresponds to the financial effect of the application IAS 29 Financial reporting in hyperinflationary economies.
(2) See
Note 16 - Investments accounted for using equity method number 2).
 
Investment property includes seventeen land properties, two offices and one apartment, situated in Chile, which are maintained for appreciation purposes, with one apartment for being leased and generating ThCh$ 5,868 revenue during year
2020
(ThCh$ 3,825 in
2019
and ThCh$ 158,235 in
2018
). Additionally, there are four properties in Argentina, which are leased and generated an income for ThCh$ 99,840 for year
2020
(ThCh$ 104,334 in
2019
and ThCh$ 97,312 in
2018
). In addition, the expenses associated with such investment properties amounted to ThCh$ 69,533 for the year ended as of
December 31, 2020
(ThCh$ 67,096 in
2019
and ThCh$ 90,312 in
2018
).
 
The market valuation of investment properties exceeds 100% of the book value.
 
The fair value, of investment property that represent 96% of the carrying amount is ThCh$ 11,071,904.
 
Management has not detected any evidence of impairment of investment property.
 
The Company does not maintain any pledge or restriction over investment property items.