UNITED BREWERIES CO INC | CIK:0000888746 | 3

  • Filed: 4/27/2018
  • Entity registrant name: UNITED BREWERIES CO INC (CIK: 0000888746)
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  • SEC filing page: http://www.sec.gov/Archives/edgar/data/888746/000129281418001412/0001292814-18-001412-index.htm
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  • ifrs-full:DisclosureOfInvestmentPropertyExplanatory

    Note 20 Investment Property
     
    Investment property movements are detailed as follows:
     
     
     
    Lands
     
    Buildings
     
    Total
     
     
     
    ThCh$
     
    ThCh$
     
    ThCh$
     
    As of January 1, 2016
     
     
     
     
     
     
     
     
     
     
    Historic cost
     
     
    5,097,142
     
     
    2,487,425
     
     
    7,584,567
     
    Depreciation
     
     
    -
     
     
    (746,565)
     
     
    (746,565)
     
    Book Value
     
     
    5,097,142
     
     
    1,740,860
     
     
    6,838,002
     
     
     
     
     
     
     
     
     
     
     
     
    As of December 31, 2016
     
     
     
     
     
     
     
     
     
     
    Additions
     
     
    -
     
     
    11,036
     
     
    11,036
     
    Divestitures
     
     
    (2,563)
     
     
    -
     
     
    (2,563)
     
    Depreciation
     
     
    -
     
     
    (41,055)
     
     
    (41,055)
     
    Conversion effect (depreciation)
     
     
    (364,940)
     
     
    (218,986)
     
     
    (583,926)
     
    Conversion effect
     
     
    -
     
     
    32,333
     
     
    32,333
     
    Book Value
     
     
    4,729,639
     
     
    1,524,188
     
     
    6,253,827
     
     
     
     
     
     
     
     
     
     
     
     
    As of December 31, 2016
     
     
     
     
     
     
     
     
     
     
    Historic cost
     
     
    4,729,639
     
     
    2,279,475
     
     
    7,009,114
     
    Depreciation
     
     
    -
     
     
    (755,287)
     
     
    (755,287)
     
    Book Value
     
     
    4,729,639
     
     
    1,524,188
     
     
    6,253,827
     
     
     
     
     
     
     
     
     
     
     
     
    As of December 31, 2017
     
     
     
     
     
     
     
     
     
     
    Additions
     
     
    -
     
     
    17,588
     
     
    17,588
     
    Depreciation
     
     
    -
     
     
    (38,007)
     
     
    (38,007)
     
    Conversion effect (depreciation)
     
     
    (270,804)
     
     
    (165,236)
     
     
    (436,040)
     
    Conversion effect
     
     
    -
     
     
    27,991
     
     
    27,991
     
    Book Value
     
     
    4,458,835
     
     
    1,366,524
     
     
    5,825,359
     
     
     
     
     
     
     
     
     
     
     
     
    As of December 31, 2017
     
     
     
     
     
     
     
     
     
     
    Historic cost
     
     
    4,458,835
     
     
    2,131,827
     
     
    6,590,662
     
    Depreciation
     
     
    -
     
     
    (765,303)
     
     
    (765,303)
     
    Book Value
     
     
    4,458,835
     
     
    1,366,524
     
     
    5,825,359
     
     
    Investment property includes twenty land properties, two offices and one apartment, situated in Chile, which are maintained for appreciation purposes, with one land property, two offices and one apartment of them being leased and generating ThCh$ 193,839 revenue during year 2017 (ThCh$ 251,545 in 2016 and ThCh$ 172,243 in 2015). Additionally, there are three land properties in Argentina, which are leased and generated an income for ThCh$ 135,064 for year 2017 (ThCh$ 131,389 in 2016 and ThCh$ 127,093 in 2015). In addition, the expenses associated with such investment properties amounted to ThCh$ 60,452 for the year ended as of December 31, 2017 (ThCh$ 71,090 in 2016 and ThCh$ 120,340 in 2015).
     
    The fair value, of investment property that represent 89% of the carrying amount is ThCh$ 16,904,331.
     
    Management has not detected any evidence of impairment of investment property.
     
    The Company does not maintain any pledge or restriction over investment property items.