UNITED BREWERIES CO INC | CIK:0000888746 | 3

  • Filed: 4/27/2018
  • Entity registrant name: UNITED BREWERIES CO INC (CIK: 0000888746)
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    • ifrs-full:DisclosureOfOtherProvisionsExplanatory

    Note 23 Provisions
     
    Provisions recorded in the consolidated statement of financial position are detailed as follows:
     
     
     
    As of December 31, 2017
     
    As of December 31, 2016
     
     
     
    Current
     
    Non current
     
    Current
     
    Non current
     
     
     
    ThCh$
     
    ThCh$
     
    ThCh$
     
    ThCh$
     
    Litigation
     
     
    349,775
     
     
    950,920
     
     
    409,164
     
     
    839,079
     
    Others
     
     
    -
     
     
    289,469
     
     
    -
     
     
    484,441
     
    Total
     
     
    349,775
     
     
    1,240,389
     
     
    409,164
     
     
    1,323,520
     
     
    The changes in provisions are detailed as follows:
     
     
     
    Litigation (1)
     
    Others
     
    Total
     
     
     
    ThCh$
     
    ThCh$
     
    ThCh$
     
    As of January 1, 2016
     
     
    1,343,374
     
     
    636,584
     
     
    1,979,958
     
    As of December 31, 2016
     
     
     
     
     
     
     
     
     
     
    Incorporated
     
     
    551,167
     
     
    22,219
     
     
    573,386
     
    Used
     
     
    (267,704)
     
     
    (14,173)
     
     
    (281,877)
     
    Released
     
     
    (124,336)
     
     
    (67,271)
     
     
    (191,607)
     
    Conversion effect
     
     
    (254,258)
     
     
    (92,918)
     
     
    (347,176)
     
    As of December 31, 2016
     
     
    1,248,243
     
     
    484,441
     
     
    1,732,684
     
    As of December 31, 2017
     
     
     
     
     
     
     
     
     
     
    Incorporated
     
     
    1,028,505
     
     
    14,386
     
     
    1,042,891
     
    Used
     
     
    (652,280)
     
     
    -
     
     
    (652,280)
     
    Released
     
     
    (81,249)
     
     
    (142,291)
     
     
    (223,540)
     
    Conversion effect
     
     
    (242,524)
     
     
    (67,067)
     
     
    (309,591)
     
    As of December 31, 2017
     
     
    1,300,695
     
     
    289,469
     
     
    1,590,164
     
     
    (1)
    See Note 34.
     
    The maturities of provisions at December 31, 2017, are detailed as follows:
     
     
     
    Litigation
     
    Others
     
    Total
     
     
     
    ThCh$
     
    ThCh$
     
    ThCh$
     
    Less than one year
     
     
    349,775
     
     
    -
     
     
    349,775
     
    Between two and five years
     
     
    445,941
     
     
    289,469
     
     
    735,410
     
    Over five years
     
     
    504,979
     
     
    -
     
     
    504,979
     
    Total
     
     
    1,300,695
     
     
    289,469
     
     
    1,590,164
     
     
    The maturities of provisions at December 31, 2016, are detailed as follows:
     
     
     
    Litigation
     
    Others
     
    Total
     
     
     
    ThCh$
     
    ThCh$
     
    ThCh$
     
    Less than one year
     
     
    409,164
     
     
    -
     
     
    409,164
     
    Between two and five years
     
     
    423,863
     
     
    484,441
     
     
    908,304
     
    Over five years
     
     
    415,216
     
     
    -
     
     
    415,216
     
    Total
     
     
    1,248,243
     
     
    484,441
     
     
    1,732,684
     
     
    Litigation
     
    Significant litigation proceedings which the Company is exposed to at a consolidated level are detailed in Note 34.
     
    Management believes that based on the development of such proceedings to date, the provisions established on a case by case basis are adequate to cover the possible adverse effects that could arise from these proceedings.