XML 149 R24.htm IDEA: XBRL DOCUMENT v3.22.1
Financial Assets and Liabilities
 12 Months Ended
Dec. 31, 2021
Text block [abstract]  
Financial Assets and Liabilities
19. Financial Assets and Liabilities
Set out below is the categorization of the financial instruments, excluding cash and cash equivalents, held by the Company as of December 31, 2020 and 2021:
 
    
December 31, 2020
  
    
Loans and
Receivables
     
Fair value
through
profit or loss
     
Fair value
through OCI
  
Financial Assets:
                           
Equity investments at fair value through OCI and other short term investments
    Ps. 62,940      Ps. —        Ps. 50,033,111  
Accounts receivable from subscribers, distributors, contractual assets and other
      171,213,415        —          —    
Related parties
      1,391,300        —          —    
Derivative financial instruments
 (Note 7)
      —          20,928,335        —    
    
 
 
     
 
 
     
 
 
  
Total current assets
      172,667,655        20,928,335        50,033,111  
    
 
 
     
 
 
     
 
 
  
Non-current assets
                           
Debt instruments
at fair value through OCI
      —        —    

4,540,344
  
    
 
 
     
 
 
     
 
 
  
Total
    Ps. 172,667,655      Ps. 20,928,335      Ps. 54,573,455  
    
 
 
     
 
 
     
 
 
  
Financial Liabilities:
                           
Debt
    Ps. 628,382,956      Ps. —        Ps. —    
Liability related to right-of-use of assets
      109,327,241        —          —    
Accounts payable
      186,995,472        —          —    
Related parties
      3,999,916        —          —    
Derivative financial instruments (Note 7)
      —          14,230,249        —    
    
 
 
     
 
 
     
 
 
  
Total
    Ps. 928,705,585      Ps. 14,230,249      Ps. —    
    
 
 
     
 
 
     
 
 
  
 
  
December 31, 2021
 
 
  
Loans and
Receivables
 
  
Fair value
through
profit or loss
 
  
Fair value
through OCI
 
Financial Assets:
  
      
  
      
  
      
Equity investments at fair value through OCI and other short term investments
   
Ps.
15,026
 
   
Ps.
—  
     
Ps.
117,688,176
 
Accounts receivable from subscribers, distributors, contractual assets and other
   
 
166,041,321
 
   
 
—  
     
 
—  
 
Related parties
   
 
1,158,611
 
   
 
—  
 
   
 
—  
 
Derivative financial instruments
 (Note 7)
   
 
—  
 
   
 
10,130,806
     
 
—  
 
    
 
 
     
 
 
     
 
 
  
Total current assets
   
 
167,214,958
 
   
 
10,130,806
 
   
 
117,688,176
 
    
 
 
     
 
 
     
 
 
  
Non-current assets
                           
Debt instruments
 at fair value through OCI
   
 
—  
 
   
 
—  
 
   
 
6,894,757
 
    
 
 
     
 
 
     
 
 
  
Total
   
Ps.
167,214,958
 
   
Ps.
10,130,806
 
   
Ps.
124,582,933
 
    
 
 
     
 
 
     
 
 
  
Financial Liabilities:
                           
Debt
   
Ps.
564,030,102
 
   
Ps.
—  
     
Ps.
—  
  
Liability related to right-of-use of assets
   
 
98,654,225
 
   
 
—  
     
 
—  
 
Accounts payable
   
 
201,341,806
 
   
 
—  
     
 
—  
 
Related parties
   
 
4,216,882
 
   
 
—  
     
 
—  
 
Derivative financial instruments (Note 7)
   
 
—  
 
   
 
10,034,508
     
 
—  
  
    
 
 
     
 
 
     
 
 
  
Total
   
Ps.
868,243,015
 
   
Ps.
10,034,508
 
   
Ps.
—  
  
    
 
 
     
 
 
     
 
 
  
Fair value hierarchy
The Company’s valuation techniques used to determine and disclose the fair value of its financial instruments are based on the following hierarchy:
Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities;
Level 2: Variables other than quoted prices in Level 1 that are observable for the asset or liability, either directly (prices) or indirectly (derived from prices); and
Level 3: Variables used for the asset or liability that are not based on any observable market data (non-observable variables).
 

The fair value for the financial assets (excluding cash and cash equivalents) and financial liabilities shown in the consolidated statements of financial position at December 31, 2020 and 2021 is as follows:
 
    
Measurement of fair value at December 31, 2020
  
    
Level 1
     
Level 2
     
Level 3
     
Total
  
Assets:
                                    
Equity investments at fair value through OCI and other short-term investments
    Ps. 50,033,111      Ps. 62,940      Ps. —        Ps. 50,096,051  
Derivative financial instruments (Note 7)
      —          20,928,335        —          20,928,335  
Revalued of assets (Note 23)
      —          —          107,152,628        107,152,628  
Pension plan assets (Note 18)
      168,939,091        22,589,392        21,100        191,549,583  
    
 
 
     
 
 
     
 
 
     
 
 
  
Total current assets
      218,972,202        43,580,667        107,173,728        369,726,597  
    
 
 
     
 
 
     
 
 
     
 
 
  
Debt instruments
 at fair value through OCI 
      —          4,540,344        —          4,540,344  
    
 
 
     
 
 
     
 
 
     
 
 
  
Total
    Ps. 218,972,202      Ps. 48,121,011      Ps. 107,173,728      Ps. 374,266,941  
    
 
 
     
 
 
     
 
 
     
 
 
  
Liabilities:
                                    
Debt
    Ps. 578,712,562      Ps. 135,645,912      Ps. —        Ps. 714,358,474  
Liability related to right-of-use of assets
      109,327,241        —          —          109,327,241  
Derivative financial instruments (Note 7)
      —          14,230,249        —          14,230,249  
    
 
 
     
 
 
     
 
 
     
 
 
  
Total
    Ps. 688,039,803      Ps. 149,876,161      Ps. —        Ps. 837,915,964  
    
 
 
     
 
 
     
 
 
     
 
 
  
 
 
 
 
    
Measurement of fair value at December 31, 2021
  
    
Level 1
     
Level 2
     
Level 3
     
Total
  
Assets:
                                    
Equity investments at fair value through OCI and other short-term investments
   
Ps.
117,688,176
 
   
Ps.
15,026
 
   
Ps.
—  
     
Ps.
117,703,202
 
Derivative financial instruments (Note 7)
   
 
—  
 
   
 
10,130,806
 
   
 
—  
 
   
 
10,130,806
 
Revalued of assets (Note 23)
   
 
 —  
 
   
 
—  
 
   
 
98,172,675
 
   
 
98,172,675
 
Pension plan assets (Note 18)
   
 
196,148,604
 
   
 
22,124,138
 
   
 
54,440
 
   
 
218,327,182
 
    
 
 
     
 
 
     
 
 
     
 
 
  
Total current assets
   
 
313,836,780
 
   
 
32,269,970
 
   
 
98,227,115
 
   
 
444,333,865
 
    
 
 
     
 
 
     
 
 
     
 
 
  
Debt instruments
 at fair value through OCI 
   
 
—  
 
   
 
6,894,757
 
   
 
—  
 
   
 
6,894,757
 
    
 
 
     
 
 
     
 
 
     
 
 
  
Total
   
Ps.
313,836,780
 
   
Ps.
39,164,727
 
   
Ps.
98,227,115
 
   
Ps.
451,228,622
 
    
 
 
     
 
 
     
 
 
     
 
 
  
Liabilities:
                                    
Debt
   
Ps.
440,660,165
 
   
Ps.
180,122,540
 
   
Ps.
—  
 
   
Ps.
620,782,705
 
Liability related to right-of-use of assets
   
 
98,654,225
 
   
 
—  
 
   
 
—  
 
   
 
98,654,225
 
Derivative financial instruments
   
 
—  
 
   
 
10,034,508
 
   
 
—  
 
   
 
10,034,508
 
    
 
 
     
 
 
     
 
 
     
 
 
  
Total
   
Ps.
539,314,390
 
   
Ps.
190,157,048
 
   
Ps.
—  
 
   
Ps.
729,471,438
 
    
 
 
     
 
 
     
 
 
     
 
 
  
Fair value of derivative financial instruments is valued using valuation techniques with market observable inputs. To determine its Level 2 fair value, the Company applies different valuation techniques including forward pricing and swaps models, using present value calculations. The models incorporate various inputs including credit quality of counterparties, foreign exchange spot and forward rates and interest rate curves. Fair value of debt Level 2 has been determined using a model based on present value calculation incorporating credit quality of AMX. The Company’s investment in equity investments at fair value, specifically the investment in KPN and Verizon, is valued using the quoted prices (unadjusted) in active markets for identical assets. The net realized (loss) gain related to derivative financial instruments for the years ended December 31, 2020 and 2021 was Ps.
 
2,606,938 and Ps.
 
(1,664,465) respectively.
The fair value of the asset revaluation was calculated using valuation techniques, using observable market data and internal information on transactions carried out with independent third parties. To determine fair value we use level 2 and 3 information, the Company used inputs such as average rents, contract term and discount rates for discounted flow modeling techniques; in the case of discount rates, we use level 2 data where the information is public and is found in recognized databases, such as country risks, inflation, etc. In the case of average rents and contract terms, we use level 3 data, where the information is mainly internal based on lease contracts entered into with independent third parties.
During the end of the period ended December 31, 2020 and 2021, there were no transfers between the Level 1 and Level 2 fair value measurement hierarchies.
Changes in liabilities arising from financing activities
 
 
  
At
 
December 31,
2019
 
  
Cash flow
 
 
Foreign currency
exchange and
other
 
  
At December 31,
2020
 
Debt
    Ps. 624,254,477      Ps. (53,091,801 )    Ps. 57,220,280      Ps. 628,382,956  
Liability related to right-of-use of assets
      120,596,733        (29,623,565 )      18,354,073        109,327,241  
    
 
 
     
 
 
    
 
 
     
 
 
  
Total liabilities from financing activities
   
Ps.
744,851,210
     
Ps.
(82,715,366
)
 		  
Ps.
75,574,353
     
Ps.
737,710,197
  
    
 
 
     
 
 
    
 
 
     
 
 
  
 
    
At December 31,
2020
     
Cash flow
    
Foreign currency
exchange and
other
    
At December 31,
2021
  
Debt
   
Ps.
628,382,956
 
   
Ps.
(58,354,281
) 
  
Ps.
(5,998,573
) 
  
Ps.
564,030,102
 
Liability related to right-of-use of assets
   
 
109,327,241
 
   
 
(30,544,750
) 
  
 
19,871,734
 
  
 
98,654,225
 
    
 
 
     
 
 
    
 
 
    
 
 
  
Total liabilities from
financing activities
   
Ps.
737,710,197
 
   
Ps.
(88,899,031
) 
  
Ps.
13,873,161
 
  
Ps.
662,684,327