ANDINA BOTTLING CO INC | CIK:0000925261 | 3

  • Filed: 4/27/2018
  • Entity registrant name: ANDINA BOTTLING CO INC (CIK: 0000925261)
  • Generator: Merrill
  • SEC filing page: http://www.sec.gov/Archives/edgar/data/925261/000110465918027414/0001104659-18-027414-index.htm
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  • ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory

     

    NOTE 3 — REPORTING BY SEGMENT

     

    The Company provides information by segments according to IFRS 8 “Operating Segments,” which establishes standards for reporting by operating segment and related disclosures for products and services, and geographic areas.

     

    The Company’s Board of Directors and Management measures and assesses performance of operating segments based on the operating income of each of the countries where there are Coca-Cola franchises.

     

    The operating segments are determined based on the presentation of internal reports to the Company´s chief strategic decision-maker. The chief operating decision-maker has been identified as the Company´s Board of Directors who makes the Company’s strategic decisions.

     

    The following operating segments have been determined for strategic decision making based on geographic location:

     

    ·

    Operation in Chile

    ·

    Operation in Brazil

    ·

    Operation in Argentina

    ·

    Operation in Paraguay

     

    The four operating segments conduct their businesses through the production and sale of soft drinks and other beverages, as well as packaging materials.

     

    Expenses and income related to corporate management, have been assigned to the Chilean soft drinks segment, since Chile is the country that manages and pays corporate expenses, which would also be substantially incurred, independent to the existence of foreign subsidiaries.

     

    Total revenues by segment include sales to unrelated customers and inter-segments, as indicated in the consolidated statement of income.

     

    A summary of the Company’s operating segments in accordance to IFRS is as follows:

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    For the period ended December 31, 2017

     

    Chile
    Operation

     

    Argentina
    Operation

     

    Brazil
    Operation

     

    Paraguay
    Operation

     

    Intercompany
    Eliminations

     

    Consolidated
    total

     

     

     

    ThCh$

     

    ThCh$

     

    ThCh$

     

    ThCh$

     

    ThCh$

     

    ThCh$

     

    Softdrinks

     

    391,629,010

     

    444,872,352

     

    387,545,053

     

    113,314,824

     

    (96,999)

     

    1,337,264,240

     

    Other beverages

     

    160,244,448

     

    99,712,939

     

    216,352,694

     

    27,962,406

     

     

    504,272,487

     

    Packaging

     

     

    9,202,768

     

     

     

    (1,860,876)

     

    7,341,892

     

    Net sales

     

    551,873,458

     

    553,788,059

     

    603,897,747

     

    141,277,230

     

    (1,957,875

    )

    1,848,878,619

     

    Cost of sales

     

    (328,579,003

    )

    (294,370,581

    )

    (362,686,353

    )

    (85,346,902

    )

    1,957,875

     

    (1,069,024,964

    )

    Distribution expenses

     

    (54,777,094

    )

    (87,032,428

    )

    (43,483,958

    )

    (7,634,395

    )

     

    (192,927,875

    )

    Administrative expenses

     

    (110,969,260

    )

    (106,504,163

    )

    (109,095,660

    )

    (21,630,238

    )

     

    (348,199,321

    )

    Finance income

     

    19,057,630

     

    2,116,590

     

    6,575,528

     

    257,906

     

    (16,813,279

    )

    11,194,375

     

    Finance expense

     

    (32,594,796

    )

    (4,663,527

    )

    (34,767,713

    )

    (7,612

    )

    16,813,279

     

    (55,220,369

    )

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Interest expense, net.

     

    (13,537,166

    )

    (2,546,937

    )

    (28,192,185

    )

    250,294

     

     

    (44,025,994

    )

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Share of the entity in income of associates

     

    246,084

     

    (243

    )

    (326,201

    )

     

     

    (80,360

    )

    Income tax expense

     

    (16,871,257

    )

    (17,683,875

    )

    (13,719,506

    )

    (3,522,996

    )

     

    (51,797,634

    )

    Other income (loss)

     

    (11,312,509

    )

    (10,441,173

    )

    (1,855,039

    )

    (213,025

    )

     

    (23,821,746

    )

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Net income of the segment reported

     

    16,073,253

     

    35,208,659

     

    44,538,845

     

    23,179,968

     

     

    119,000,725

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Depreciation and amortization

     

    42,688,326

     

    17,648,018

     

    27,879,514

     

    10,948,033

     

     

    99,163,891

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Current assets

     

    223,245,173

     

    97,529,488

     

    132,815,545

     

    30,419,844

     

     

    484,010,050

     

    Non-current assets

     

    636,482,010

     

    96,532,150

     

    663,556,969

     

    234,278,288

     

     

    1,630,849,417

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Segment assets, total

     

    859,727,183

     

    194,061,638

     

    796,372,514

     

    264,698,132

     

     

    2,114,859,467

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Carrying amount in associates and joint ventures accounted for using the equity method, total

     

    33,789,538

     

     

    53,019,531

     

     

     

    86,809,069

     

    Capital expenditures and other

     

    64,480,973

     

    40,347,989

     

    91,198,657

     

    14,476,783

     

     

    210,504,402

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Current liabilities

     

    169,508,083

     

    105,886,744

     

    135,595,155

     

    17,297,339

     

     

    428,287,321

     

    Non-current liabilities

     

    463,997,113

     

    1,368,167

     

    393,125,740

     

    14,847,776

     

     

    873,338,796

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Segment liabilities, total

     

    633,505,196

     

    107,254,911

     

    528,720,895

     

    32,145,115

     

     

    1,301,626,117

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Cash flows provided by in Operating Activities

     

    79,451,122

     

    38,904,028

     

    98,783,329

     

    30,821,869

     

     

    247,960,348

     

    Cash flows (used in) provided by Investing Activities

     

    (49,677,671

    )

    (40,344,994

    )

    (64,331,960

    )

    (14,476,785

    )

     

    (168,831,410

    )

    Cash flows (used in) provided by Financing Activities

     

    (91,800,089

    )

    16,891,759

     

    (3,437,442

    )

     

     

    (78,345,770

    )

     

     

     

    For the period ended December 31, 2016

     

    Chile
    Operation

     

    Argentina
    Operation

     

    Brazil
    Operation

     

    Paraguay
    Operation

     

    Intercompany
    Eliminations

     

    Consolidated
    total

     

     

     

    ThCh$

     

    ThCh$

     

    ThCh$

     

    ThCh$

     

    ThCh$

     

    ThCh$

     

    Softdrinks

     

    391,479,133

     

    424,427,824

     

    389,048,385

     

    106,953,951

     

    (334,784)

     

    1,311,574,509

     

    Other beverages

     

    148,948,285

     

    83,518,724

     

    201,097,188

     

    25,051,552

     

     

    458,615,749

     

    Packaging

     

     

    9,112,468

     

     

     

    (1,843,406)

     

    7,269,062

     

    Net sales

     

    540,427,418

     

    517,059,016

     

    590,145,573

     

    132,005,503

     

    (2,178,190

    )

    1,777,459,320

     

    Cost of sales

     

    (319,213,825

    )

    (279,308,400

    )

    (359,156,149

    )

    (78,409,843

    )

    2,178,190

     

    (1,033,910,027

    )

    Distribution expenses

     

    (52,540,986

    )

    (80,066,734

    )

    (44,107,337

    )

    (6,961,838

    )

     

     

    (183,676,895

    )

    Administrative expenses

     

    (117,615,991

    )

    (97,788,860

    )

    (109,345,331

    )

    (21,452,613

    )

     

     

    (346,202,795

    )

    Finance income

     

    2,426,279

     

    1,095,411

     

    5,800,712

     

    339,290

     

     

     

    9,661,692

     

    Finance expense

     

    (16,262,215

    )

    (587,216

    )

    (34,504,760

    )

    (20,780

    )

     

     

    (51,374,971

    )

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Interest expense, net*

     

    (13,835,936

    )

    508,195

     

    (28,704,048

    )

    318,510

     

     

    (41,713,279

    )

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Share of the entity in income of associates

     

    717,947

     

     

    (980,529

    )

     

     

    (262,582

    )

    Income tax expense

     

    (19,763,700

    )

    (17,427,278

    )

    (8,911,762

    )

    (2,704,353

    )

     

    (48,807,093

    )

    Other income (loss)

     

    (13,481,333

    )

    (8,284,072

    )

    (9,322,611

    )

    250,478

     

     

    (30,837,538

    )

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Net income of the segment reported

     

    4,693,594

     

    34,691,867

     

    29,617,806

     

    23,045,844

     

     

    92,049,111

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Depreciation and amortization

     

    43,619,318

     

    16,445,143

     

    25,666,094

     

    11,603,897

     

     

    97,334,452

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Current assets

     

    251,357,854

     

    115,280,140

     

    150,820,924

     

    35,283,479

     

     

    552,742,397

     

    Non-current assets

     

    644,817,201

     

    98,810,807

     

    659,123,444

     

    243,615,898

     

     

    1,646,367,350

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Segment assets, total

     

    896,175,055

     

    214,090,947

     

    809,944,368

     

    278,899,377

     

     

    2,199,109,747

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Carrying amount in associates and joint ventures accounted for using the equity method, total

     

    23,854,602

     

     

    53,343,179

     

     

     

    77,197,781

     

    Capital expenditures and other

     

    47,755,389

     

    37,029,524

     

    51,779,625

     

    9,239,522

     

     

    145,804,060

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Current liabilities

     

    137,438,744

     

    134,624,014

     

    130,279,607

     

    17,192,489

     

     

    419,534,854

     

    Non-current liabilities

     

    509,625,208

     

    (1,981,066

    )

    413,749,384

     

    16,011,340

     

     

    937,404,866

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Segment liabilities, total

     

    647,063,952

     

    132,642,948

     

    544,028,991

     

    33,203,829

     

     

    1,356,939,720

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Cash flows provided by Operating Activities

     

    71,077,982

     

    54,162,992

     

    67,963,682

     

    30,241,904

     

     

    223,446,560

     

    Cash flows (used in) provided by Investing Activities

     

    (15,781,118

    )

    (37,017,204

    )

    (51,873,047

    )

    (9,244,948

    )

     

    (113,916,317

    )

    Cash flows (used in) provided by Financing Activities

     

    (23,591,062

    )

    (17,777,191

    )

    (36,806,173

    )

    (20,050,099

    )

     

    (98,224,525

    )

     

    (*) Financial expenses associated with external financing for the purchase of companies, including capital contributions are presented in this item.

     

     

    For the period ended December 31, 2015

     

    Chile
    Operation

     

    Argentina
    Operation

     

    Brazil
    Operation

     

    Paraguay
    Operation

     

    Intercompany
    Eliminations

     

    Consolidated
    Total

     

     

     

    ThCh$

     

    ThCh$

     

    ThCh$

     

    ThCh$

     

    ThCh$

     

    ThCh$

     

    Softdrinks

     

    375,993,430

     

    523,460,939

     

    417,508,814

     

    105,709,646

     

    (281,091

    )

    1,422,391,738

     

    Other beverages

     

    138,739,166

     

    93,409,514

     

    189,538,968

     

    24,329,754

     

     

    446,017,402

     

    Packaging

     

     

    10,387,685

     

     

     

    (1,402,569

    )

    8,985,116

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Net sales

     

    514,732,596

     

    627,258,138

     

    607,047,782

     

    130,039,400

     

    (1,683,660

    )

    1,877,394,256

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Cost of sales

     

    (309,387,177

    )

    (351,139,902

    )

    (369,212,113

    )

    (78,650,614

    )

    1,683,660

     

    (1,106,706,146

    )

    Distribution expenses

     

    (51,642,087

    )

    (97,485,454

    )

    (46,571,390

    )

    (6,791,861

    )

     

    (202,490,792

    )

    Administrative expenses

     

    (105,959,018

    )

    (115,611,438

    )

    (109,802,964

    )

    (21,227,426

    )

     

    (352,600,846

    )

    Finance income

     

    1,859,795

     

    1,669,559

     

    6,239,526

     

    349,495

     

     

    10,118,375

     

    Finance expense

     

    (16,699,299

    )

    (3,916,370

    )

    (35,021,529

    )

    (32,019

    )

     

    (55,669,217

    )

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Interest expense, net*

     

    (14,839,504

    )

    (2,246,811

    )

    (28,782,003

    )

    317,476

     

     

    (45,550,842

    )

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Share of the entity in income of associates accounted for using the equity method, total

     

    777,620

     

     

    (3,105,449

    )

     

     

    (2,327,829

    )

    Income tax expense

     

    (14,949,823

    )

    (16,740,817

    )

    (6,887,666

    )

    (3,064,256

    )

     

    (41,642,562

    )

    Other income (loss)

     

    (15,363,727

    )

    (9,902,996

    )

    (10,809,496

    )

    (1,901,094

    )

     

    (37,977,313

    )

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Net income of the segment reported

     

    3,368,880

     

    34,130,720

     

    31,876,701

     

    18,721,625

     

     

    88,097,926

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Depreciation and amortization

     

    40,083,270

     

    21,171,806

     

    26,572,048

     

    12,805,208

     

     

    100,632,332

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Current assets

     

    256,380,151

     

    111,228,338

     

    145,809,121

     

    33,992,246

     

     

    547,409,856

     

    Non-current assets

     

    668,605,326

     

    102,027,611

     

    631,923,188

     

    259,395,043

     

     

    1,661,951,168

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Segment assets, total

     

    924,985,477

     

    213,255,949

     

    777,732,309

     

    293,387,289

     

     

    2,209,361,024

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Carrying amount in associates and joint ventures accounted for using the equity method, total

     

    17,793,784

     

     

    36,396,762

     

     

     

    54,190,546

     

    Capital expenditures and other

     

    50,042,740

     

    30,056,170

     

    25,745,746

     

    7,469,941

     

     

    113,314,597

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Current liabilities

     

    81,766,688

     

    113,185,338

     

    164,173,404

     

    21,448,780

     

     

    380,574,210

     

    Non-current liabilities

     

    571,635,493

     

    6,708,979

     

    381,506,922

     

    17,401,120

     

     

    977,252,514

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Segment liabilities, total

     

    653,402,181

     

    119,894,317

     

    545,680,326

     

    38,849,900

     

     

    1,357,826,724

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Cash flows provided by in Operating Activities

     

    105,897,100

     

    83,290,552

     

    66,272,643

     

    9,448,935

     

     

    264,909,230

     

    Cash flows (used in) provided by Investing Activities

     

    (40,431,754

    )

    (28,732,653

    )

    (29,150,493

    )

    (4,816,170

    )

     

    (103,131,070

    )

    Cash flows (used in) provided by Financing Activities

     

    (50,804,304

    )

    (15,529,951

    )

    (31,576,973

    )

    (649,149

    )

     

    (98,560,377

    )