28 » Non-Controlling Interests
This line item within equity comprises the non-controlling interests in subsidiaries that are not directly or indirectly attributable to adidas AG.
Non-controlling interests are assigned to two subsidiaries as at December 31, 2022, and to three subsidiaries as at December 31, 2021. SEE SHAREHOLDINGS
The remaining non-controlling interest of 6.85% of Reebok India Company, acquired as part of the acquisition of Reebok in 2006, was acquired in January 2022.
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 |
||
|---|---|---|---|---|---|---|
|
|
|
|
Dec. 31, 2022 |
|
Dec. 31, 2021 |
Agron, Inc. |
|
USA |
|
100% |
|
100% |
adidas Israel Ltd. |
|
Israel |
|
15% |
|
15% |
Reebok India Company |
|
India |
|
– |
|
6.85% |
The following table presents the main financial information on subsidiaries with significant non-controlling interests before elimination.
|
|
Non-controlling interests |
||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
|
Dec. 31, 2022 |
|
Dec. 31, 2021 |
||||||||
|
|
Total |
|
Thereof: |
|
Total |
|
Thereof: |
||||
Net sales |
|
751 |
|
556 |
|
651 |
|
424 |
||||
Net income |
|
32 |
|
25 |
|
56 |
|
40 |
||||
Net income attributable to non-controlling interests |
|
26 |
|
25 |
|
42 |
|
40 |
||||
|
|
|
|
|
|
|
|
|
||||
Other comprehensive income |
|
24 |
|
20 |
|
30 |
|
39 |
||||
Total comprehensive income |
|
56 |
|
45 |
|
85 |
|
79 |
||||
Total comprehensive income attributable to non-controlling interests |
|
47 |
|
45 |
|
81 |
|
79 |
||||
|
|
|
|
|
|
|
|
|
||||
Current assets |
|
398 |
|
307 |
|
433 |
|
290 |
||||
Non-current assets |
|
165 |
|
124 |
|
156 |
|
111 |
||||
Current liabilities |
|
(139) |
|
(78) |
|
(162) |
|
(72) |
||||
Non-current liabilities |
|
(24) |
|
– |
|
(23) |
|
– |
||||
Net assets |
|
399 |
|
353 |
|
403 |
|
328 |
||||
Net assets attributable to non-controlling interests according to the consolidated statement of financial position |
|
360 |
|
353 |
|
318 |
|
328 |
||||
|
|
|
|
|
|
|
|
|
||||
Net cash generated from/(used in) operating activities |
|
15 |
|
(11) |
|
117 |
|
66 |
||||
Net cash used in investing activities |
|
(30) |
|
(20) |
|
(1) |
|
(0) |
||||
Net cash used in financing activities |
|
(41) |
|
(21) |
|
(37) |
|
0 |
||||
Net (decrease)/increase of cash and cash equivalents |
|
(56) |
|
(52) |
|
79 |
|
66 |
||||
Dividends paid to non-controlling interests during the year1 |
|
22 |
|
22 |
|
– |
|
– |
||||
|
||||||||||||
