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, 2020 and as at December 31, 2019. 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, 2020 |
|
Dec. 31, 2019 |
Agron, Inc. |
|
USA |
|
100% |
|
100% |
adidas Israel Ltd. (formerly: Life Sport Ltd.) |
|
Israel |
|
15% |
|
15% |
Reebok India Company |
|
India |
|
6.85% |
|
6.85% |
The following table presents the main financial information on subsidiaries with significant non-controlling interests before elimination.
|
|
Non-controlling interests |
||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
|
Dec. 31, 2020 |
|
Dec. 31, 2019 |
||||||||
|
|
Total |
|
Thereof: Agron, Inc. |
|
Total |
|
Thereof: Agron, Inc. |
||||
Net sales |
|
517 |
|
349 |
|
222 |
|
– |
||||
Net income |
|
4 |
|
12 |
|
14 |
|
– |
||||
Net income attributable to non-controlling interests |
|
11 |
|
12 |
|
2 |
|
– |
||||
|
|
|
|
|
|
|
|
|
||||
Other comprehensive income |
|
7 |
|
(23) |
|
(8) |
|
(6) |
||||
Total comprehensive income |
|
10 |
|
(11) |
|
6 |
|
(6) |
||||
Total comprehensive income attributable to non-controlling interests |
|
(10) |
|
(11) |
|
(4) |
|
(6) |
||||
|
|
|
|
|
|
|
|
|
||||
Current assets |
|
315 |
|
185 |
|
361 |
|
209 |
||||
Non-current assets |
|
172 |
|
119 |
|
195 |
|
121 |
||||
Current liabilities |
|
(158) |
|
(53) |
|
(174) |
|
(55) |
||||
Non-current liabilities |
|
(28) |
|
(1) |
|
(42) |
|
(2) |
||||
Net assets |
|
301 |
|
249 |
|
340 |
|
274 |
||||
Net assets attributable to non-controlling interests according to the consolidated statement of financial position |
|
237 |
|
249 |
|
261 |
|
274 |
||||
|
|
|
|
|
|
|
|
|
||||
Net cash generated from operating activities |
|
65 |
|
51 |
|
14 |
|
– |
||||
Net cash (used in) / generated from investing activities |
|
(25) |
|
(20) |
|
0 |
|
– |
||||
Net cash used in financing activities |
|
(31) |
|
(15) |
|
(11) |
|
– |
||||
Net increase of cash and cash equivalents |
|
9 |
|
16 |
|
3 |
|
– |
||||
Dividends paid to non-controlling interests during the year1 |
|
17 |
|
17 |
|
2 |
|
– |
||||
|
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