An analysis of intangible assets at December 31, 2016, 2017 and 2018 is as follows:


	For the year ended December 31, 2016
	Balance at beginning of year			Acquisitions			Acquisitions in business combinations			Disposals and other			Amortization of the year			Effect of translation of foreign subsidiaries			Balance at end of year
Licenses and rights of use	Ps.	175,295,775		Ps.	9,129,949		Ps.	360,144		Ps.	1,269,478		Ps.	—		Ps.	56,684,016		Ps.	242,739,362
Accumulated amortization		(84,846,524	)		—			—			—			(10,255,271	)		(31,606,303	)		(126,708,098	)

Net		90,449,251			9,129,949			360,144			1,269,478			(10,255,271	)		25,077,713			116,031,264

Trademarks		22,824,013			—			101,655			(13,820	)		—			4,877,302			27,789,150
Accumulated amortization		(11,523,707	)		—			—			—			(330,576	)		(3,367,974	)		(15,222,257	)

Net		11,300,306			—			101,655			(13,820	)		(330,576	)		1,509,328			12,566,893

Customer relationships		18,394,407			—			1,904,503			—			—			5,946,598			26,245,508
Accumulated amortization		(3,962,875	)		—			—			—			(3,231,518	)		(5,240,681	)		(12,435,074	)

Net		14,431,532			—			1,904,503			—			(3,231,518	)		705,917			13,810,434

Software licenses		8,782,768			3,854,066			26,871			(829,680	)		—			1,040,771			12,874,796
Accumulated amortization		(2,424,598	)		(41,185	)		(8,367	)		829,680			(3,469,461	)		(9,809	)		(5,123,740	)

Net		6,358,170			3,812,881			18,504			—			(3,469,461	)		1,030,962			7,751,056

Content rights		2,634,527			2,242,556			—			(217,057	)		—			216,272			4,876,298
Accumulated amortization		(428,746	)		—			—			(1,612	)		(2,236,141	)		—			(2,666,499	)

Net		2,205,781			2,242,556			—			(218,669	)		(2,236,141	)		216,272			2,209,799

Total of intangibles, net	Ps.	124,745,040		Ps.	15,185,386		Ps.	2,384,806		Ps.	1,036,989		Ps.	(19,522,967	)	Ps.	28,540,192		Ps.	152,369,446

Goodwill (Note 12)	Ps.	137,113,716		Ps.	—		Ps.	3,953,023		Ps.	(356,832	)	Ps.	—		Ps.	11,922,728		Ps.	152,632,635


	For the year ended December 31, 2017
	Balance at beginning of year			Acquisitions		Acquisitions in business combinations		Disposals and other			Amortization of the year			Effect of translation of foreign subsidiaries			Balance at end of year
Licenses and rights of use	Ps.	242,739,362		Ps.	12,347,051	Ps.	53,923	Ps.	(1,037,458	)	Ps.	—		Ps.	(6,689,054	)	Ps.	247,413,824
Accumulated amortization		(126,708,098	)		—		—		244,564			(11,879,489	)		4,233,585			(134,109,438	)

Net		116,031,264			12,347,051		53,923		(792,894	)		(11,879,489	)		(2,455,469	)		113,304,386

Trademarks		27,789,150			127,823		82,868		(29,804	)		—			809,175			28,779,212
Accumulated amortization		(15,222,257	)		—		—		34,464			(3,179,461	)		(474,151	)		(18,841,405	)

Net		12,566,893			127,823		82,868		4,660			(3,179,461	)		335,024			9,937,807

Customer relationships		26,245,508			—		512,667		(882,338	)		—			1,109,877			26,985,714
Accumulated amortization		(12,435,074	)		—		—		882,338			(3,769,777	)		(806,982	)		(16,129,495	)

Net		13,810,434			—		512,667		—			(3,769,777	)		302,895			10,856,219

Software licenses		12,874,796			3,351,200		—		(1,698,118	)		—			527,720			15,055,598
Accumulated amortization		(5,123,740	)		—		—		1,212,669			(3,699,363	)		(204,727	)		(7,815,161	)

Net		7,751,056			3,351,200		—		(485,449	)		(3,699,363	)		322,993			7,240,437

Content rights		4,876,298			2,099,084		—		(63,137	)		—			(194,803	)		6,717,442
Accumulated amortization		(2,666,499	)		—		—		(195,658	)		(1,820,092	)		165,584			(4,516,665	)

Net		2,209,799			2,099,084		—		(258,795	)		(1,820,092	)		(29,219	)		2,200,777

Total of intangibles, net	Ps.	152,369,446		Ps.	17,925,158	Ps.	649,458	Ps.	(1,532,478	)	Ps.	(24,348,182	)	Ps.	(1,523,776	)	Ps.	143,539,626

Goodwill (Note 12)	Ps.	152,632,635		Ps.	—	Ps.	951,348	Ps.	(134,525	)	Ps.	—		Ps.	(1,986,226	)	Ps.	151,463,232

For the year ended December 31, 2018

Balance at
beginning of
year

Acquisitions

Acquisitions
in business
combinations

Disposals and
other

Amortization
of the year

Effect of
translation of
foreign
subsidiaries
and
Hyperinflation
adjustment

Balance at end
of year

Licenses and rights of use

Ps.

247,413,824

Ps.

4,227,244

—

Ps.

1,508,274

—

Ps.

(19,670,368

)

Ps.

233,478,974

Accumulated amortization

(134,109,438

)

—

(1,005,877

)

(11,347,089

)

16,281,825

(130,180,579

)

Net

113,304,386

4,227,244

502,397

(11,347,089

)

(3,388,543

)

103,298,395

Trademarks

28,779,212

159,958

6,631

—

(738,635

)

28,207,166

Accumulated amortization

(18,841,405

)

—

(4,973,602

)

275,046

(23,539,961

)

Net

9,937,807

159,958

6,631

—

(4,973,602

)

(463,589

)

4,667,205

Customer relationships

26,985,714

74,637

15,556

—

(1,532,839

)

25,543,068

Accumulated amortization

(16,129,495

)

—

(3,754,312

)

1,122,270

(18,761,537

)

Net

10,856,219

74,637

15,556

—

(3,754,312

)

(410,569

)

6,781,531

Software licenses

15,055,598

2,004,550

3,006

(905,610

)

—

(1,848,286

)

14,309,258

Accumulated amortization

(7,815,161

)

—

2,677,848

(3,491,629

)

924,139

(7,704,803

)

Net

7,240,437

2,004,550

3,006

1,772,238

(3,491,629

)

(924,147

)

6,604,455

Content rights

6,717,442

850,779

—

(18,512

)

7,549,709

Accumulated amortization

(4,516,665

)

—

(2,231,978

)

(14,949

)

(6,763,592

)

Net

2,200,777

850,779

—

(2,231,978

)

(33,461

)

786,117

Total of intangibles, net

Ps.

143,539,626

Ps.

7,317,168

Ps.

25,193

Ps.

2,274,635

Ps.

(25,798,610

)

Ps.

(5,220,309

)

Ps.

122,137,703

Goodwill

Ps.

151,463,232

Ps.

1,455

Ps.

333,284

Ps.

(1,094,861

)

—

Ps.

(5,136,613

)

Ps.

145,566,497