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Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2019

An analysis of the derivative financial instruments contracted by the Company at December 31, 2018 and 2019 is as follows:


	At December 31,
	2018				2019
Instrument	Notional amount in millions		Fair Value		Notional amount in millions		Fair Value
Assets:
Swaps US Dollar-Mexican Peso	US$	3,490		Ps. 2,058,831	US$	3,290		Ps. 4,420,433
Swaps US Dollar-Euro	US$	—		—	US$	150		96,967
Swaps Yen-US Dollar	¥	13,000		581,948	¥	6,500		262,993
Swaps Pound sterling-US Dollar	£	—		—	£	100		2,988
Swaps Euro-Brazilian Real	€	300		1,080,552	€	—		—
Forwards US Dollar-Mexican Peso	US$	—		—	US$	100		18
Forwards US Dollar-Brazilian Real	US$	150		126,287	US$	83		90,429
Forwards Brazilian Real-US Dollar	BRL $	2,823		1,107,630	BRL $	5,803		1,620,605
Forwards Euro-Brazilian Real	€	150		123,005	€	50		4,255
Forwards Euro-US Dollar	€	710		209,295	€	1,506		204,241
Forwards Argentinean Peso-US Dollar	ARS$	—		—	ARS$	1,388		122,831

Total Assets				Ps. 5,287,548				Ps. 6,825,760


	At December 31,
	2018				2019
Instrument	Notional amount in millions		Fair Value		Notional amount in millions		Fair Value
Liabilities:
Swaps US Dollar-Mexican Peso	US$	—	Ps.	—	US$	200	Ps.	(33,253)
Swaps US Dollar-Euro	US$	2,025		(5,114,863)	US$	800		(2,228,287)
Swaps Pound sterling-Euro	£	740		(4,027,312)	£	640		(2,201,997)
Swap Pound sterling-US Dollar	£	2,010		(5,836,607)	£	2,010		(3,019,255)
Forwards US Dollar-Mexican Peso	US$	977		(772,704)	US$	2,343		(1,398,247)
Forwards Euro-US Dollar	€	950		(333,586)	€	1,094		(554,278)
Forwards US Dollar-Euro	US$	—		—	US$	20		(3,787)
Forwards Euro-Brazilian Real	€	—		—	€	140		(10,196)
Forwards Yen-US Dollar	¥	—		—	¥	6,500		(18,769)
Put option	€	374		(988,669)	€	374		(126,569)
Call option	€	3,000		(33,838)	€	3,000		(2,113)

Total Liabilities			Ps.	(17,107,579)			Ps.	(9,596,751)

Non-current liability			Ps.	(3,567,863)			Ps.	—

Total current liability			Ps.	(13,539,716)			Ps.	(9,596,751)

The maturities of the notional amount of the derivatives are as follows:


Instrument	Notional amount in millions		2020		2021		2022		2023		2024 Thereafter
Assets
Swaps US Dollar-Mexican P eso		US$		—		—		1,400		—		1,890
Swaps Yen-US Dollar		¥		—		—		—		—		6,500
Swaps US Dollar-Euro		US$		—		—		—		—		150
Swaps Pound sterling-US Dollar		£		—		—		—		—		100
Forwards US Dollar-Mexican Peso		US$		100		—		—		—		—
Forwards Brazilian Real-US Dollar		BRL		4,660		1,143		—		—		—
Forwards US Dollar-Brazilian Real		US$		83		—		—		—		—
Forwards Argentinean Pesos-US Dollar		ARS		1,388		—		—		—		—
Forwards Euro-Brazilian Real		€		50		—		—		—		—
Forwards Euro-US Dollar		€		1,506		—		—		—		—
Liabilities
Swaps US Dollar-Euro		US$		—		—		—		—		800
Swaps Pound sterling-Euro		£		—		—		—		—		640
Swap Pound sterling-US Dollar		£		550		—		—		—		1,460
Swap US Dollar-Mexican Peso		US$		—		—		200		—		—
Forwards US Dollar-Mexican Peso		US$		2,343		—		—		—		—
Forwards Yen-US Dollar		¥		6,500		—		—		—		—
Forwards Euro-US Dollar		€		1,094		—		—		—		—
Forwards US Dollar-Euro		US$		20		—		—		—		—
Forwards Euro-Brazilian Real		€		140		—		—		—		—
Put option		€		—		—		—		—		374
Call spread option		€		3,000		—		—		—		—