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Derivative Financial Instruments
 12 Months Ended
Dec. 31, 2024
Derivative Financial Instruments [Abstract]  
Derivative Financial Instruments
Note 7. Derivative Financial Instruments
 
In an attempt to mitigate the risks of future increases in interest rates and foreign exchange rates for the servicing of its debt, the Company has entered into derivative contracts in over-the-counter transactions carried out with financial institutions. In 2024 the weighted-average interest rate of the total debt including the impact of interest rate derivatives held by the Company is 5.8% (5.6% and 5.0% in 2023 and 2022, respectively).

An analysis of the derivative financial instruments contracted by the Company at December 31, 2023 and 2024 is as follows:

   
At December 31,
  
   
2023
    
2024
  
Instrument
  
Notional amount in
millions
    
Fair Value
    
Notional amount in
millions
    
Fair Value
  
Assets:
                        
XCS US Dollar – Mexican Peso
  
US$
 150    
Ps.
 56,426    
US$
2,700    
Ps.
 8,538,837  
XCS US Dollar – Euro
  
US$
 800      
257,278
    
US$
800      
582,620
  
XCS Yen – US Dollar
  
¥
6,500
      
34,720
      
—
      
—
  
XCS Euro – US Dollar
  
€
152
      
104,070
      
—
      
—
  
XCS US Dollar – Chilean Peso
    
—
      
—
    
US$
400      
1,529,257
  
Interest Rate Swaps US Dollar – Chilean Peso
                  
US$
392      
5,373
  
Interest Rate Swaps Chilean Peso – US Dollar
                  
CLP$
 306,554      
12,372
  
Forwards US Dollar – Mexican Peso
  
US$
 228    
12,009
      
—
      
—
  
Forwards Brazilian Real – US Dollar
  
R$ 
5,201
      
407,878
      
—
      
—
  
Forwards Euro – US Dollar
  
€
1,390
      
573,653
      
—
      
—
  
Total Assets
          
Ps.
 1,446,034            
Ps.
10,668,460  

   
At December 31,
  
   
2023
    
2024
  
Instrument
 
  
Notional amount in
millions
    
Fair Value
    
Notional amount in
millions
    
Fair Value
  
Liabilities:
                        
XCS US Dollar – Mexican Peso
   US$
 3,140     Ps.
 (5,147,566 )   US$
 2,190     Ps.
 (4,076,647 )
XCS Mexican Peso – US Dollar
    
—
      
—
     MXN$
8,094      
(254,549
)
XCS US Dollar – Euro
   US$
150      
(276,227
)
   US$
 150      
(158,661
)
XCS Yen – US Dollar
   ¥
6,500
      
(270,825
)
   ¥
13,000
      
(493,179
)
XCS Pound Sterling – Euro
   £
640
      
(1,586,633
)
   £
640
      
(1,259,750
)
XCS Pound Sterling – US Dollar
   £
1,560
      
(8,069,567
)
   £
1,560
      
(11,184,561
)
XCS Euro – US Dollar
   €
825
      
(1,680,315
)
   €
802
      
(2,793,689
)
Interest Rate Swaps US Dollar – Chilean Peso
                   US$
385      
(19,872
)
Interest Rate Swaps Chilean Peso – US Dollar
                   CLP$
384,948      
(12,613
)
Forwards US Dollar – Mexican Peso
   US$
742      
(311,288
)
    
—
      
—
  
Forwards Brazilian Real – US Dollar
   R$
123
      
(459
)
   R$
6,155
      
(1,401,460
)
Forwards Euro – US Dollar
   €
435
      
(160,448
)
   €
1,036
      
(530,728
)
Forwards Euro – Mexican Peso
   €
50
      
(16,267
)
    
—
      
—
  
Call option
   €
2,020
      
(376,784
)
    
—
      
—
  
Total Liabilities
    
—
     Ps.
(17,896,379 )    
—
     Ps.
(22,185,709 )

*Totals may not sum due to rounding
**XCS stands for Cross Currency Swaps

The changes in the fair value of these derivative financial instruments for the years ended December 31, 2022, 2023 and 2024  were equivalent to a loss of Ps. (28,639,687), Ps. (10,268,520) and Ps. (2,141,802), respectively. Such amounts are included in the consolidated statements of comprehensive income as part of the caption “Valuation of derivatives interest cost from labor obligations and other financial items, net”.

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

Instrument
Notional
amount in
millions
  
2025
    
2026
    
2027
    
2028
    
2029
Thereafter
  
Assets
                                
XCS US Dollar – Mexican Peso
US$
    
—
      
—
      
—
      
—
      
2,700
  
XCS US Dollar - Euro
US$
    
—
      
—
      
—
      
—
      
800
  
XCS US Dollar – Chilean Peso
US$
    
—
      
223
      
177
      
—
      
—
  
Interest Rate Swaps US Dollar – Chilean Peso
US$
    
—
      
—
      
392
      
—
      
—
  
Interest Rate Swaps Chilean Peso – US Dollar
CLP$
    
—
      
306,554
      
—
      
—
      
—
  
                                           
Liabilities
                                          
XCS US Dollar – Mexican Peso
US$
    
—
      
—
      
—
      
—
      
2,190
  
XCS Mexican Peso – US Dollar
MXN$
    
—
      
—
      
—
      
—
      
8,094
  
XCS US Dollar - Euro
US$
    
—
      
—
      
—
      
—
      
150
  
XCS Euro – US Dollar
€
 

—
      
—
      
402
      
400
      
—
  
XCS Yen – US Dollar
 ¥
 

—
      
—
      
—
      
—
      
13,000
  
XCS Sterling Pound – Euro
 £
 

—
      
390
      
—
      
—
      
250
XCS Sterling Pound – US Dollar
 £
 

—
      
110
      
—
      
—
      
1,450
  
Interest Rate Swaps US Dollar – Chilean Peso
US$
    
—
      
385
      
—
      
—
      
—
  
Interest Rate Swaps Chilean Peso – US Dollar
CLP$
    
—
      
384,948
      
—
      
—
      
—
  
Forwards Euro – US Dollar
 €
 

1,036
      
—
      
—
      
—
      
—
  
Forwards Brazilian Real – US Dollar
R$
    
6,155
      
—
      
—
      
—
      
—