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v3.19.1

Intangible Assets (Tables) | 12 Months Ended
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Dec. 31, 2018
Statement [LineItems] |
Summary of Reconciliation of Changes in Intangible Assets and Goodwill |
|  | Rights to Produce and Distribute Coca-Cola Trademark Products |  |  | Goodwill |  |  | Trademark Rights |  |  | Other Indefinite Lived Intangible Assets |  |  | Total Unamortized Intangible Assets |  |  | Technology Costs and Management Systems |  |  | Systems in Development |  |  | Alcohol Licenses |  |  | Other |  |  | Total Amortized Intangible Assets |  |  | Total Intangible Assets |
Cost as of January 1, 2016 |  | Ps. | 66,392 |  |  | Ps. | 33,850 |  |  | Ps. | 1,481 |  |  | Ps. | 1,246 |  |  | Ps. | 102,969 |  |  | Ps. | 4,890 |  |  | Ps. | 683 |  |  | Ps. | 1,225 |  |  | Ps. | 860 |  |  | Ps. | 7,658 |  |  | Ps. | 110,627 |
Additions |  |  | — |  |  |  | — |  |  |  | 3 |  |  |  | — |  |  |  | 3 |  |  |  | 345 |  |  |  | 609 |  |  |  | 191 |  |  |  | 146 |  |  |  | 1,291 |  |  |  | 1,294 |
Acquisitions from business combinations (see Note 4) |  |  | 9,602 |  |  |  | 12,276 |  |  |  | 239 |  |  |  | 1,067 |  |  |  | 23,184 |  |  |  | 318 |  |  |  | 3 |  |  |  | — |  |  |  | 174 |  |  |  | 495 |  |  |  | 23,679 |
Changes in fair value of past acquisitions |  |  | — |  |  |  | (2,385 | ) |  |  | 4,315 |  |  |  | (554 | ) |  |  | 1,376 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,078 |  |  |  | 1,078 |  |  |  | 2,454 |
Transfer of completed development systems |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 304 |  |  |  | (304 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Disposals |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (336 | ) |  |  | — |  |  |  | — |  |  |  | (24 | ) |  |  | (360 | ) |  |  | (360 | )
Effect of movements in exchange rates |  |  | 8,124 |  |  |  | 8,116 |  |  |  | 187 |  |  |  | 392 |  |  |  | 16,819 |  |  |  | 451 |  |  |  | (193 | ) |  |  | — |  |  |  | 104 |  |  |  | 362 |  |  |  | 17,181 |
Changes in value on the recognition of inflation effects |  |  | 1,220 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,220 |  |  |  | 141 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 141 |  |  |  | 1,361 |
Capitalization of borrowing costs |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 11 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 11 |  |  |  | 11 |
Cost as of December 31, 2016 |  | Ps. | 85,338 |  |  | Ps. | 51,857 |  |  | Ps. | 6,225 |  |  | Ps. | 2,151 |  |  | Ps. | 145,571 |  |  | Ps. | 6,124 |  |  | Ps. | 798 |  |  | Ps. | 1,416 |  |  | Ps. | 2,338 |  |  | Ps. | 10,676 |  |  | Ps. | 156,247 |
|  | Rights to Produce and Distribute Coca-Cola Trademark Products |  |  | Goodwill |  |  | Trademark Rights |  |  | Other Indefinite Lived Intangible Assets |  |  | Total Unamortized Intangible Assets |  |  | Technology Costs and Management Systems |  |  | Systems in Development |  |  | Alcohol Licenses |  |  | Other |  |  | Total Amortized Intangible Assets |  |  | Total Intangible Assets |
Cost as of January 1, 2017 |  | Ps. | 85,338 |  |  | Ps. | 51,857 |  |  | Ps. | 6,225 |  |  | Ps. | 2,151 |  |  | Ps. | 145,571 |  |  | Ps. | 6,124 |  |  | Ps. | 798 |  |  | Ps. | 1,416 |  |  | Ps. | 2,338 |  |  | Ps. | 10,676 |  |  | Ps. | 156,247 |
Additions |  |  | 1,288 |  |  |  | — |  |  |  | — |  |  |  | 6 |  |  |  | 1,294 |  |  |  | 464 |  |  |  | 920 |  |  |  | 221 |  |  |  | 445 |  |  |  | 2,050 |  |  |  | 3,344 |
Acquisitions from business combinations (see Note 4) |  |  | 4,144 |  |  |  | 140 |  |  |  | 5 |  |  |  | — |  |  |  | 4,289 |  |  |  | 6 |  |  |  | — |  |  |  | — |  |  |  | 80 |  |  |  | 86 |  |  |  | 4,375 |
Changes in fair value of past acquisitions |  |  | 5,167 |  |  |  | (7,022 | ) |  |  | 836 |  |  |  | 9 |  |  |  | (1,010 | ) |  |  | (188 | ) |  |  | — |  |  |  | — |  |  |  | 892 |  |  |  | 704 |  |  |  | (306 | )
Transfer of completed development systems |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 412 |  |  |  | (412 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Disposals |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 110 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 110 |  |  |  | 110 |
Effect of movements in exchange rates |  |  | (2,563 | ) |  |  | (1,526 | ) |  |  | 119 |  |  |  | 91 |  |  |  | (3,879 | ) |  |  | 175 |  |  |  | (15 | ) |  |  | — |  |  |  | 52 |  |  |  | 212 |  |  |  | (3,667 | )
Changes in value on the recognition of inflation effects |  |  | (727 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (727 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 175 |  |  |  | 175 |  |  |  | (552 | )
Venezuela deconsolidation effect |  |  | (745 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (745 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (139 | ) |  |  | (139 | ) |  |  | (884 | )
Cost as of December 31, 2017 |  | Ps. | 91,902 |  |  | Ps. | 43,449 |  |  | Ps. | 7,185 |  |  | Ps. | 2,257 |  |  | Ps. | 144,793 |  |  | Ps. | 7,103 |  |  | Ps. | 1,291 |  |  | Ps. | 1,637 |  |  | Ps. | 3,843 |  |  | Ps. | 13,874 |  |  | Ps. | 158,667 |
|  | Rights to Produce and Distribute Coca-Cola Trademark Products |  |  | Goodwill |  |  | Trademark Rights |  |  | Other Indefinite Lived Intangible Assets |  |  | Total Unamortized Intangible Assets |  |  | Technology Costs and Management Systems |  |  | Systems in Development |  |  | Alcohol Licenses |  |  | Other |  |  | Total Amortized Intangible Assets |  |  | Total Intangible Assets |
Cost as of January 1, 2018 |  | Ps. | 91,902 |  |  | Ps. | 43,449 |  |  | Ps. | 7,185 |  |  | Ps. | 2,257 |  |  | Ps. | 144,793 |  |  | Ps. | 7,103 |  |  | Ps. | 1,291 |  |  | Ps. | 1,637 |  |  | Ps. | 3,843 |  |  | Ps. | 13,874 |  |  | Ps. | 158,667 |
Additions |  |  | — |  |  |  | 75 |  |  |  | — |  |  |  | 71 |  |  |  | 146 |  |  |  | 1,051 |  |  |  | 371 |  |  |  | 131 |  |  |  | 94 |  |  |  | 1,647 |  |  |  | 1,793 |
Acquisitions from business combinations (see Note 4) |  |  | 4,602 |  |  |  | 842 |  |  |  | 170 |  |  |  | — |  |  |  | 5,614 |  |  |  | 35 |  |  |  | 57 |  |  |  | — |  |  |  | 291 |  |  |  | 383 |  |  |  | 5,997 |
Changes in fair value of past acquisitions |  |  | — |  |  |  | 272 |  |  |  | — |  |  |  | — |  |  |  | 272 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 272 |
Internal development |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 41 |  |  |  | 41 |  |  |  | 41 |
Transfer of completed development systems |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 904 |  |  |  | (904 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Disposals |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (2 | ) |  |  | (2 | ) |  |  | (43 | ) |  |  | — |  |  |  | — |  |  |  | (146 | ) |  |  | (189 | ) |  |  | (191 | )
Philippines Disposal |  |  | (3,882 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (3,882 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (596 | ) |  |  | (596 | ) |  |  | (4,478 | )
Effect of movements in exchange rates |  |  | (5,005 | ) |  |  | (4,108 | ) |  |  | (656 | ) |  |  | (349 | ) |  |  | (10,118 | ) |  |  | (343 | ) |  |  | (38 | ) |  |  | — |  |  |  | (311 | ) |  |  | (692 | ) |  |  | (10,810 | )
Changes in value on the recognition of inflation effects |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 57 |  |  |  | 57 |  |  |  | 57 |
Cost as of December 31, 2018 |  | Ps. | 87,617 |  |  | Ps. | 40,530 |  |  | Ps. | 6,699 |  |  | Ps. | 1,977 |  |  | Ps. | 136,823 |  |  | Ps. | 8,707 |  |  | Ps. | 777 |  |  | Ps. | 1,768 |  |  | Ps. | 3,273 |  |  | Ps. | 14,525 |  |  | Ps. | 151,348 |
Amortization and Impairment Losses |  | Rights to Produce and Distribute Coca-Cola Trademark Products |  |  | Goodwill |  |  | Trademark Rights |  |  | Other Indefinite Lived Intangible Assets |  |  | Total Unamortized Intangible Assets |  |  | Technology Costs and Management Systems |  |  | Systems in Development |  |  | Alcohol Licenses |  |  | Other |  |  | Total Amortized Intangible Assets |  |  | Total Intangible Assets |
Amortization as of January 1, 2016 |  | Ps. | — |  |  | Ps. | — |  |  | Ps. | — |  |  | Ps. | — |  |  | Ps. | — |  |  | Ps. | (1,619 | ) |  | Ps. | — |  |  | Ps. | (302 | ) |  | Ps. | (365 | ) |  | Ps. | (2,286 | ) |  | Ps. | (2,286 | )
Amortization expense |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (630 | ) |  |  | — |  |  |  | (74 | ) |  |  | (302 | ) |  |  | (1,006 | ) |  |  | (1,006 | )
Impairment losses |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Disposals |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 313 |  |  |  | — |  |  |  | — |  |  |  | 36 |  |  |  | 349 |  |  |  | 349 |
Effect of movements in exchange rates |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1 | ) |  |  | — |  |  |  | — |  |  |  | (35 | ) |  |  | (36 | ) |  |  | (36 | )
Amortization as of December 31, 2016 |  | Ps. | — |  |  | Ps. | — |  |  | Ps. | — |  |  | Ps. | — |  |  | Ps. | — |  |  | Ps. | (1,937 | ) |  | Ps. | — |  |  | Ps. | (376 | ) |  | Ps. | (666 | ) |  | Ps. | (2,979 | ) |  | Ps. | (2,979 | )
Amortization as of January 1, 2017 |  | Ps. | — |  |  | Ps. | — |  |  | Ps. | — |  |  | Ps. | — |  |  | Ps. | — |  |  | Ps. | (1,937 | ) |  | Ps. | — |  |  | Ps. | (376 | ) |  | Ps. | (666 | ) |  | Ps. | (2,979 | ) |  | Ps. | (2,979 | )
Amortization expense |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (961 | ) |  |  | — |  |  |  | (81 | ) |  |  | (217 | ) |  |  | (1,259 | ) |  |  | (1,259 | )
Impairment losses |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (110 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (110 | ) |  |  | (110 | )
Disposals |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Venezuela deconsolidation effect |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (120 | ) |  |  | (120 | ) |  |  | (120 | )
Venezuela impairment |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Effect of movements in exchange rates |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (254 | ) |  |  | — |  |  |  | — |  |  |  | 148 |  |  |  | (106 | ) |  |  | (106 | )
Amortization as of December 31, 2017 |  | Ps. | — |  |  | Ps. | — |  |  | Ps. | — |  |  | Ps. | — |  |  | Ps. | — |  |  | Ps. | (3,262 | ) |  | Ps. | — |  |  | Ps. | (457 | ) |  | Ps. | (855 | ) |  | Ps. | (4,574 | ) |  | Ps. | (4,574 | )
Amortization as of January 1, 2018 |  | Ps. | — |  |  | Ps. | — |  |  | Ps. | — |  |  | Ps. | — |  |  | Ps. | — |  |  | Ps. | (3,262 | ) |  | Ps. | — |  |  | Ps. | (457 | ) |  | Ps. | (855 | ) |  | Ps. | (4,574 | ) |  | Ps. | (4,574 | )
Amortization expense |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1,453 | ) |  |  | — |  |  |  | (87 | ) |  |  | (373 | ) |  |  | (1,913 | ) |  |  | (1,913 | )
Disposals |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 93 |  |  |  | — |  |  |  | — |  |  |  | 98 |  |  |  | 191 |  |  |  | 191 |
Philippines Disposal |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 375 |  |  |  | 375 |  |  |  | 375 |
Effect of movements in exchange rates |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 236 |  |  |  | — |  |  |  | — |  |  |  | (1 | ) |  |  | 235 |  |  |  | 235 |
Changes in value on the recognition of inflation effects |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (51 | ) |  |  | — |  |  |  | — |  |  |  | (1 | ) |  |  | (52 | ) |  |  | (52 | )
Amortization as of December 31, 2018 |  | Ps. | — |  |  | Ps. | — |  |  | Ps. | — |  |  | Ps. | — |  |  | Ps. | — |  |  | Ps. | (4,437 | ) |  | Ps. | — |  |  | Ps. | (544 | ) |  | Ps. | (757 | ) |  | Ps. | (5,738 | ) |  | Ps. | (5,738 | )
Carrying Amount |  | Rights to Produce and Distribute Coca-Cola Trademark Products |  |  | Goodwill |  |  | Trademark Rights |  |  | Other Indefinite Lived Intangible Assets |  |  | Total Unamortized Intangible Assets |  |  | Technology Costs and Management Systems |  |  | Systems in Development |  |  | Alcohol Licenses |  |  | Other |  |  | Total Amortized Intangible Assets |  |  | Total Intangible Assets |
As of December 31, 2016 |  | Ps. | 85,338 |  |  | Ps. | 51,857 |  |  | Ps. | 6,225 |  |  | Ps. | 2,151 |  |  | Ps. | 145,571 |  |  | Ps. | 4,187 |  |  | Ps. | 798 |  |  | Ps. | 1,040 |  |  | Ps. | 1,672 |  |  | Ps. | 7,697 |  |  | Ps. | 153,268 |
As of December 31, 2017 |  | Ps. | 91,902 |  |  | Ps. | 43,449 |  |  | Ps. | 7,185 |  |  | Ps. | 2,257 |  |  | Ps. | 144,793 |  |  | Ps. | 3,841 |  |  | Ps. | 1,291 |  |  | Ps. | 1,180 |  |  | Ps. | 2,988 |  |  | Ps. | 9,300 |  |  | Ps. | 154,093 |
As of December 31, 2018 |  | Ps. | 87,617 |  |  | Ps. | 40,530 |  |  | Ps. | 6,699 |  |  | Ps. | 1,977 |  |  | Ps. | 136,823 |  |  | Ps. | 4,270 |  |  | Ps. | 777 |  |  | Ps. | 1,224 |  |  | Ps. | 2,516 |  |  | Ps. | 8,787 |  |  | Ps. | 145,610 |
Schedule of Allocation of Amortization Expenses | For the years ended 2018, 2017 and 2016, allocation for amortization expense is as follows:
|  | 2018 |  |  | 2017 |  |  | 2016 |
Cost of goods sold |  | Ps. | 399 |  |  | Ps. | 132 |  |  | Ps. | 82 |
Administrative expenses |  |  | 858 |  |  |  | 627 |  |  |  | 727 |
Selling expenses |  |  | 656 |  |  |  | 500 |  |  |  | 207 |
|  | Ps. | 1,913 |  |  | Ps. | 1,259 |  |  | Ps. | 1,016 |
Summary of Average Remaining Period for Company's Intangible Assets Subject to Amortization | The average remaining period for the Company’s intangible assets that are subject to amortization is as follows:
|  | Years
Technology Costs and Management Systems |  | 3 - 10
Alcohol Licenses |  | 12 - 15
Disclosure of Aggregate Carrying Amounts of Goodwill and Distribution Rights Allocated to Each CGU | The aggregate carrying amounts of goodwill and distribution rights allocated to each CGU are as follows:
|  | December 31, 2018 |  |  | December 31, 2017 |
Mexico |  | Ps. | 56,352 |  |  | Ps. | 56,352 |
Guatemala |  |  | 1,853 |  |  |  | 488 |
Nicaragua |  |  | 460 |  |  |  | 484 |
Costa Rica |  |  | 1,417 |  |  |  | 1,520 |
Panama |  |  | 1,182 |  |  |  | 1,185 |
Colombia |  |  | 4,600 |  |  |  | 5,824 |
Brazil |  |  | 42,153 |  |  |  | 48,345 |
Argentina |  |  | 327 |  |  |  | 50 |
Uruguay |  |  | 3,003 |  |  |  | — |
Philippines |  |  | — |  |  |  | 3,882 |
Total |  | Ps. | 111,347 |  |  | Ps. | 118,130 |
Details of Key Assumptions by CGU for Impairment Test | The key assumptions by CGU for impairment test as of December 31, 2018 were as follows:
CGU |  | Pre-tax WACC |  |  | Post-tax WACC |  |  | Expected Annual Long-Term Inflation 2019-2028 |  |  | Expected Volume Growth Rates 2019-2028 |
Mexico |  |  | 7.4 | % |  |  | 5.3 | % |  |  | 4.0 | % |  |  | 1.4 | %
Colombia |  |  | 7.8 | % |  |  | 5.2 | % |  |  | 3.1 | % |  |  | 4.0 | %
Costa Rica |  |  | 13.9 | % |  |  | 9.2 | % |  |  | 4.0 | % |  |  | 1.6 | %
Guatemala |  |  | 9.4 | % |  |  | 7.5 | % |  |  | 3.2 | % |  |  | 7.3 | %
Nicaragua |  |  | 21.2 | % |  |  | 11.0 | % |  |  | 6.2 | % |  |  | 3.8 | %
Panama |  |  | 9.2 | % |  |  | 7.0 | % |  |  | 2.4 | % |  |  | 3.0 | %
Argentina |  |  | 19.6 | % |  |  | 11.3 | % |  |  | 21.9 | % |  |  | 2.7 | %
Brazil |  |  | 10.7 | % |  |  | 6.6 | % |  |  | 3.8 | % |  |  | 1.7 | %
The key assumptions by CGU for impairment test as of December 31, 2017 were as follows:
CGU |  | Pre-tax WACC |  |  | Post-tax WACC |  |  | Expected Annual Long-Term Inflation 2018-2027 |  |  | Expected Volume Growth Rates 2018-2027 |
Mexico |  |  | 7.3 | % |  |  | 5.3 | % |  |  | 3.7 | % |  |  | 2.2 | %
Colombia |  |  | 9.1 | % |  |  | 6.6 | % |  |  | 3.1 | % |  |  | 3.2 | %
Costa Rica |  |  | 11.5 | % |  |  | 7.8 | % |  |  | 3.3 | % |  |  | 2.7 | %
Guatemala |  |  | 13.9 | % |  |  | 10.7 | % |  |  | 4.7 | % |  |  | 7.1 | %
Nicaragua |  |  | 16.6 | % |  |  | 10.6 | % |  |  | 5.0 | % |  |  | 4.9 | %
Panama |  |  | 8.3 | % |  |  | 6.5 | % |  |  | 2.3 | % |  |  | 3.4 | %
Argentina |  |  | 11.0 | % |  |  | 7.3 | % |  |  | 10.7 | % |  |  | 3.1 | %
Brazil |  |  | 9.7 | % |  |  | 6.2 | % |  |  | 4.1 | % |  |  | 1.3 | %
Disclosure of Detailed Information About Sensitivity to Changes in Assumptions |
|  |  |  |  | Change in Volume |  |  |  |
CGU |  | Change in WACC |  |  | Growth CAGR (1) |  |  | Effect on Valuation |
Mexico |  |  | +0.3 | % |  |  | -1.0 | % |  |  | Passes by 5.0x |
Colombia |  |  | +0.6 | % |  |  | -1.0 | % |  |  | Passes by 3.9x |
Costa Rica |  |  | +1.7 | % |  |  | -1.0 | % |  |  | Passes by 1.9x |
Guatemala |  |  | +0.7 | % |  |  | -1.0 | % |  |  | Passes by 18.4x |
Nicaragua |  |  | +0.3 | % |  |  | -0.3 | % |  |  | Passes by 1.0x |
Panama |  |  | +0.3 | % |  |  | -1.0 | % |  |  | Passes by 6.9x |
Argentina |  |  | +6.1 | % |  |  | -1.0 | % |  |  | Passes by 8.9x |
Brazil |  |  | +1.1 | % |  |  | -1.0 | % |  |  | Passes by 1.3x |
(1) | Compound Annual Growth Rate (“CAGR”).
FEMSA Comercio - Health Division [member] |
Statement [LineItems] |
Details of Key Assumptions by CGU for Impairment Test | The key assumptions by CGU for impairment test as of December 31, 2018 were as follows:
CGU |  | Pre-tax WACC |  |  | Post-tax WACC |  |  | Expected Annual Long-Term Inflation 2019-2028 |  |  | Expected Volume Growth Rates 2019-2028 |
South America (FEMSA Comercio – Health Division) |  |  | 9.0 | % |  |  | 6.3 | % |  |  | 3.0 | % |  |  | 0.4 | %
The key assumptions by CGU for impairment test as of December 31, 2017 were as follows:
CGU |  | Pre-tax WACC |  |  | Post-tax WACC |  |  | Expected Annual Long-Term Inflation 2018-2027 |  |  | Expected Volume Growth Rates 2018-2027 |
South America (FEMSA Comercio – Health Division) |  |  | 6.9 | % |  |  | 6.2 | % |  |  | 3.0 | % |  |  | 2.0 | %
Disclosure of Detailed Information About Sensitivity to Changes in Assumptions |
CGU |  | Change in WACC |  |  | Change in Sales Growth CAGR (1) |  |  | Effect on Valuation |
FEMSA Comercio – Health Division (South America) |  |  | +0.3 | % |  |  | -0.5 | % |  |  | Passes by 1.15x |
(1) | Compound Annual Growth Rate.

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