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Property, plant and equipment
 12 Months Ended
Dec. 31, 2023
Property Plant And Equipment  
Property, plant and equipment

Note 19 Property, plant and equipment

 

Property, plant and equipment movements are detailed as follows:

 

 

               
   Land, buildings and construction  Machinery and equipment  Bottles and containers  Others Equipment  Assets under contruction  Furniture, accessories and vehicles  Under production vines  Total
 ThCh$  ThCh$  ThCh$  ThCh$  ThCh$  ThCh$  ThCh$  ThCh$
As of January 1, 2022                
Historic cost
 790,813,382 691,181,931 194,726,856 147,793,572 195,282,050 83,225,686 38,465,102 2,141,488,579
Accumulated depreciation (252,590,764) (376,384,175) (116,338,645) (101,641,643) – (56,210,408) (16,061,490) (919,227,125)
Book Value 538,222,618 314,797,756 78,388,211 46,151,929 195,282,050 27,015,278 22,403,612 1,222,261,454
                 
As of December 31, 2022                
Additions – – – – 197,387,873 – – 197,387,873
Transfers 61,166,714 79,898,704 22,694,028 19,887,613 (200,131,448) 9,568,259 6,915,853 (277)
Transfers to Assets held for sale (cost) (1,765,306) (36,934) – – – – (615,461) (2,417,701)
Transfers to Assets held for sale (depreciation) 30,707 29,939 – – – – 287,546 348,192
Transfers from Assets held from sale (cost) 1,770,547 – – – – – – 1,770,547
Conversion effect historic (cost) (29,680,592) (54,111,392) (34,138,268) (9,104,748) (7,821,487) (781,851) (2,238,221) (137,876,559)
Write off (cost) (6,648,641) (9,972,059) (2,248,000) (84,791) – (1,255,691) – (20,209,182)
Write off (depreciation) 6,535,423 9,970,855 2,172,805 77,589 – 1,254,399 – 20,011,071
Capitalized interests – – – – 797,442 – – 797,442
Depreciation (24,493,237) (38,579,233) (25,171,425) (15,552,044) – (6,609,355) (1,808,857) (112,214,151)
Conversion effect (depreciation) 1,821,057 8,082,936 14,171,760 5,747,971 – 528,252 – 30,351,976
Others increases (decreases) (1) 34,879,083 59,737,810 27,530,952 4,432,463 25,533,318 271,976 5,587,805 157,973,407
Divestitures (cost) (401,557) (65,792) (20,065,136) (7,645,330) – (629,411) (392,883) (29,200,109)
Divestitures (depreciation) 63,935 50,276 19,750,911 7,307,878 – 365,518 323,801 27,862,319
Sub-Total 43,278,133 55,005,110 4,697,627 5,066,601 15,765,698 2,712,096 8,059,583 134,584,848
Book Value 581,500,751 369,802,866 83,085,838 51,218,530 211,047,748 29,727,374 30,463,195 1,356,846,302
                 
As of December 31, 2022                
Historic cost 862,106,306 813,091,440 253,015,079 164,415,831 211,047,748 91,014,222 48,703,199 2,443,393,825
Accumulated depreciation (280,605,555) (443,288,574) (169,929,241) (113,197,301) – (61,286,848) (18,240,004) (1,086,547,523)
Book Value 581,500,751 369,802,866 83,085,838 51,218,530 211,047,748 29,727,374 30,463,195 1,356,846,302
                 
As of December 31, 2023                
Additions – – – – 138,289,044 – – 138,289,044
Additions for business combinations (cost)  (2) 181,006 534,269 – – – 79,094 – 794,369
Additions for business combinations (depreciation)  (2) (18,054) (100,613) – – – (20,076) – (138,743)
Transfers 48,036,193 67,714,703 26,923,762 18,748,098 (174,281,473) 12,850,863 7,854 –
Non-current assets of disposal groups classified as held for sale (cost) (3) (20,207,777) – – – – – – (20,207,777)
Conversion effect historic (cost) (63,104,205) (113,528,101) (67,485,035) (15,443,833) (30,065,398) (1,280,069) (6,081,394) (296,988,035)
Write off (cost) (409,818) (3,694,017) (1,745,448) (1,013,849) – (469,211) – (7,332,343)
Write off (depreciation) 375,578 3,245,257 1,568,049 1,013,399 – 433,053 – 6,635,336
Capitalized interests – – – – 761,764 – – 761,764
Depreciation (24,989,553) (33,391,578) (21,216,223) (13,532,247) – (9,853,805) (1,982,689) (104,966,095)
Conversion effect (depreciation) 3,365,254 16,180,666 26,110,062 9,095,329 – 280,915 900,299 55,932,525
Others increases (decreases) (1) 36,545,275 63,049,635 25,926,231 2,886,596 13,403,899 65,091 3,686,922 145,563,649
Divestitures (cost) (1,916,386) (2,683,843) (7,033,035) (3,109,155) – (577,033) (2,919,093) (18,238,545)
Divestitures (depreciation) 1,823,097 2,519,811 6,862,886 2,917,906 – 519,197 2,393,347 17,036,244
Sub-Total (20,319,390) (153,811) (10,088,751) 1,562,244 (51,892,164) 2,028,019 (3,994,754) (82,858,607)
Book Value 561,181,361 369,649,055 72,997,087 52,780,774 159,155,584 31,755,393 26,468,441 1,273,987,695
                 
As of December 31, 2023                
Historic cost 861,973,319 829,082,360 229,128,739 167,059,351 159,155,584 102,103,144 44,781,727 2,393,284,224
Accumulated depreciation (300,791,958) (459,433,305) (156,131,652) (114,278,577) – (70,347,751) (18,313,286) (1,119,296,529)
Book Value 561,181,361 369,649,055 72,997,087 52,780,774 159,155,584 31,755,393 26,468,441 1,273,987,695
(1)Corresponds to the financial effect of the application IAS 29 "Financial reporting in hyperinflationary economies”
(2)See Note 1 - General information, letter C), number (12).
(3)See Note 1 - Note 14 Non-current assets of disposal groups classified as held for sale, letter a).

 

The balance of the land at the end of each year is as follows:

 

   
  As of December 31, 2023 As of December 31, 2022
ThCh$ ThCh$
Land 253,143,223 280,329,704
Total 253,143,223 280,329,704

 

Capitalized interest as of December 31, 2023 amounted ThCh$ 761,764 (ThCh$ 797,442 as of December 31, 2022 and ThCh$ 1,074,074 as of December 31,2021, using an annually capitalization rate of 3.15% (3.64% as of December 31, 2022 and 2.04% as of December 31,2021).

 

The Company, through its subsidiary Viña San Pedro Tarapacá S.A., has biological assets corresponding to vines that produce grapes. The vines are segmented into those under formation and those under production, and they are grown both on leased and owned land, The grapes harvested from these vines are used in the manufacturing of wine, which is marketed both in the domestic market and abroad.

 

As of December 31, 2023, the Company maintained approximately 4,874 hectares of which 4,433 are for vines in production stage. Of the total hectares mentioned above, 4,271 correspond to own land and 162 to leased land.

 

The vines under formation are recorded at historic cost, and only start being depreciated when they are transferred to the production phase, which occurs in the majority of cases in the third year after plantation, when they start producing grapes commercially (in volumes that justify their production-oriented handling and later harvest).

 

During 2023, the production in plant vines yield was approximately 63.5 million kilos of grapes (58.7 million kilos of grapes in 2022).

 

By the nature of business of the Company, in the value of the assets it is not considered to start an allowance for cost of dismantling, removal or restoration.

 

In relation to impairment losses on Property, plant and equipment, Management has analyzed internal and external indicators and has not found evidence of impairment at December 31, 2023.

 

The depreciation year ended as of December 31, 2023 and 2022, recognized in net income and other assets is as follows:

 

 

   
  As of December 31, 2023 As of December 31, 2022
ThCh$ ThCh$
Recognized in net incomes (*) 103,974,693 111,196,521
Recognized in others assets 991,402 1,017,630
Total 104,966,095 112,214,151

 

(*) Includes ThCh$ 1,724,762 (ThCh$ 1,772,514 as of December 31, 2022) of depreciation of agricultural assets (barrels), related to the cost of selling wine.