29 » Non-Controlling Interests
This line item within equity comprises the non-controlling interests in subsidiaries which are not directly or indirectly attributable to adidas AG.
Non-controlling interests are assigned to three subsidiaries both as at December 31, 2019 and as at December 31, 2018. SHAREHOLDINGS
As a result of obtaining control over Agron, Inc., its net assets, which are attributable entirely to the non-controlling interest, were consolidated for the first-time into the company’s consolidated statement of financial position as at December 31, 2019. note 04
A merger of Reebok Israel Ltd. with adidas Israel Ltd. (formerly: Life Sport Ltd.) was completed in 2019.
Reebok India Company was acquired in connection with the acquisition of Reebok in 2006.
For the following subsidiaries with non-controlling interests the main financial information is presented combined.
Legal entity name |
|
Principal place of business |
|
Ownership interests held by non-controlling interests (in %) |
||
|---|---|---|---|---|---|---|
|
|
|
|
Dec. 31, 2019 |
|
Dec. 31, 2018 |
Agron, Inc. |
|
USA |
|
100% |
|
– |
adidas Israel Ltd. (formerly: Life Sport Ltd.) |
|
Israel |
|
15% |
|
15% |
Reebok Israel Ltd. |
|
Israel |
|
– |
|
15% |
Reebok India Company |
|
India |
|
6.85% |
|
6.85% |
The following table presents the main financial information on subsidiaries with non-controlling interests.
|
|
Non-controlling interests |
||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|
|
Dec. 31, 2019 |
|
Dec. 31, 2018 |
||||||
|
|
Total |
|
Thereof: Agron, Inc. |
|
|
||||
|
||||||||||
Net sales (third parties) |
|
222 |
|
– |
|
200 |
||||
Net income |
|
14 |
|
– |
|
19 |
||||
Net income attributable to non-controlling interests |
|
2 |
|
– |
|
3 |
||||
|
|
|
|
|
|
|
||||
Other comprehensive income |
|
(8) |
|
(6) |
|
15 |
||||
Total comprehensive income |
|
6 |
|
(6) |
|
33 |
||||
Total comprehensive income attributable to non-controlling interests |
|
(4) |
|
(6) |
|
4 |
||||
|
|
|
|
|
|
|
||||
Current assets |
|
361 |
|
209 |
|
114 |
||||
Non-current assets |
|
195 |
|
122 |
|
21 |
||||
Current liabilities |
|
(174) |
|
(55) |
|
(70) |
||||
Non-current liabilities |
|
(42) |
|
(2) |
|
(2) |
||||
Net assets |
|
340 |
|
274 |
|
63 |
||||
Net assets attributable to non-controlling interests according to the consolidated statement of financial position |
|
261 |
|
274 |
|
(13) |
||||
|
|
|
|
|
|
|
||||
Net cash generated from operating activities |
|
14 |
|
– |
|
31 |
||||
Net cash generated from/(used in) investing activities |
|
0 |
|
– |
|
(11) |
||||
Net cash used in financing activities |
|
(11) |
|
– |
|
(20) |
||||
Net increase/(decrease) of cash and cash equivalents |
|
3 |
|
– |
|
(0) |
||||
Dividends paid to non-controlling interests during the year1 |
|
2 |
|
– |
|
1 |
||||