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Information by Segment | 6 Months Ended
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Jun. 30, 2019
Text block [abstract] |
Information by Segment | Note 23. Information by Segment The information by segment is presented considering the Company’s business units (as defined in Note 1) based on its products and services, which is consistent with the internal reporting presented to the Chief Operating Decision Maker. A segment is a component of the Company that engages in business activities from which it earns revenues, and incurs the related costs and expenses, including revenues, costs and expenses that relate to transactions with any of Company’s other components. All segments’ operating results are reviewed regularly by the Chief Operating Decision Maker, which makes decisions about the resources that would be allocated to the segment and to assess its performance, and for which financial information is available. In 2018, FEMSA made a change to the disclosure related to the businesses segments formerly named as FEMSA Comercio’s “Retail Division” by removing those operations that are not directly related to Proximity store business, including restaurant and discount retail units, from this segment. The business segment is now named the FEMCO – “Proximity Division” and will only include Proximity and Proximity-related operations, most of which operate today under the OXXO brand across markets. The removed operations are included in “Other.” Inter-segment transfers or transactions are entered into and presented under accounting policies of each segment, which are the same to those applied by the Company. Intercompany operations are eliminated and presented within the consolidation adjustment column included in the tables below. Selected information of the condensed consolidated statements of operations by geographic operating segment for the six-month period ended as of June 30, 2019 and 2018 is as follows: a) By Business Unit:
2019 |  | Coca-Cola FEMSA |  |  | FEMCO – Proximity Division |  |  | FEMCO – Health Division |  |  | FEMCO – Fuel Division |  |  | Heineken Investment |  |  | Other (1) |  |  | Consolidation Adjustments |  |  | Consolidated |
Total revenues |  | Ps. | 94,444 |  |  | Ps. | 88,440 |  |  | Ps. | 28,004 |  |  | Ps. | 23,268 |  |  | Ps. | — |  |  | Ps. | 20,149 |  |  | Ps. | (9,934 | ) |  | Ps. | 244,371 |
Intercompany revenue |  |  | 2,697 |  |  |  | 157 |  |  |  | — |  |  |  | 7 |  |  |  | — |  |  |  | 7,073 |  |  |  | (9,934 | ) |  |  | — |
Gross profit |  |  | 43,095 |  |  |  | 34,636 |  |  |  | 8,202 |  |  |  | 2,324 |  |  |  | — |  |  |  | 4,965 |  |  |  | (2,430 | ) |  |  | 90,792 |
Administrative expenses |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 9,519 |
Selling expenses |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 58,992 |
Other income |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 935 |
Other expenses |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2,454 |
Interest expense |  |  | 3,475 |  |  |  | 2,706 |  |  |  | 578 |  |  |  | 593 |  |  |  | — |  |  |  | 1,188 |  |  |  | (1,570 | ) |  |  | 6,970 |
Interest income |  |  | 551 |  |  |  | 171 |  |  |  | 8 |  |  |  | 64 |  |  |  | 4 |  |  |  | 2,253 |  |  |  | (1,523 | ) |  |  | 1,528 |
Other net finance income (3) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1,897 | )
Income before income taxes and share of the profit of equity accounted investees |  |  | 8,939 |  |  |  | 4,824 |  |  |  | 420 |  |  |  | 94 |  |  |  | 1 |  |  |  | (1,035 | ) |  |  | 180 |  |  |  | 13,423 |
Income taxes |  |  | 2,519 |  |  |  | 40 |  |  |  | 65 |  |  |  | 33 |  |  |  | (493 | ) |  |  | 1,945 |  |  |  | — |  |  |  | 4,109 |
Share of the profit of equity accounted investees, net of tax |  |  | (64 | ) |  |  | (22 | ) |  |  | — |  |  |  | — |  |  |  | 3,138 |  |  |  | — |  |  |  | — |  |  |  | 3,052 |
Net income from continuing operations |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 12,366 |
Net income from discontinued operations |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Non-cash items other than depreciation and amortization (2) |  |  | 360 |  |  |  | 159 |  |  |  | 9 |  |  |  | 72 |  |  |  | — |  |  |  | 494 |  |  |  | — |  |  |  | 1,094 |
Investments in equity accounted investees |  |  | 10,618 |  |  |  | 252 |  |  |  | — |  |  |  | — |  |  |  | 83,724 |  |  |  | 261 |  |  |  | — |  |  |  | 94,855 |
Total assets |  |  | 259,728 |  |  |  | 109,392 |  |  |  | 53,694 |  |  |  | 16,092 |  |  |  | 85,674 |  |  |  | 158,582 |  |  |  | (51,149 | ) |  |  | 632,013 |
Total liabilities |  |  | 130,538 |  |  |  | 90,709 |  |  |  | 40,948 |  |  |  | 15,154 |  |  |  | 3,297 |  |  |  | 70,887 |  |  |  | (51,242 | ) |  |  | 300,291 |
Investments in fixed assets (4) |  |  | 3,961 |  |  |  | 4,505 |  |  |  | 595 |  |  |  | 244 |  |  |  | — |  |  |  | 998 |  |  |  | (83 | ) |  |  | 10,220 |
(1) | Includes other companies and corporate (see Note 1).
(2) | Includes bottle breakage.
(3) | Includes foreign exchange loss, net; gain on monetary position for subsidiaries in hyperinflationary economies; and market value loss on financial instruments.
(4) | Includes acquisitions and disposals of property, plant and equipment, intangible assets and other long-lived assets.
2018 |  | Coca-Cola FEMSA |  |  | FEMCO – Proximity Division |  |  | FEMCO – Health Division |  |  | FEMCO – Fuel Division |  |  | Heineken Investment |  |  | Other (1) |  |  | Consolidation Adjustments |  |  | Consolidated |
Total revenues |  | Ps. | 88,692 |  |  | Ps. | 80,134 |  |  | Ps. | 25,834 |  |  | Ps. | 22,104 |  |  | Ps. |  |  |  | Ps. | 20,443 |  |  | Ps. | (10,268 | ) |  | Ps. | 226,939 |
Intercompany revenue |  |  | 2,456 |  |  |  | 117 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 7,695 |  |  |  | (10,268 | ) |  |  |  |
Gross profit |  |  | 41,073 |  |  |  | 29,569 |  |  |  | 7,789 |  |  |  | 1,803 |  |  |  | — |  |  |  | 5,158 |  |  |  | (2,105 | ) |  |  | 83,287 |
Administrative expenses |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 8,513 |
Selling expenses |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 55,299 |
Other income |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 605 |
Other expenses |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,867 |
Interest expense |  |  | 3,688 |  |  |  | 833 |  |  |  | 396 |  |  |  | 101 |  |  |  | — |  |  |  | 1,051 |  |  |  | (1,191 | ) |  |  | 4,878 |
Interest income |  |  | 426 |  |  |  | 176 |  |  |  | 58 |  |  |  | 128 |  |  |  | 4 |  |  |  | 1,653 |  |  |  | (1,191 | ) |  |  | 1,254 |
Other net finance expenses (3) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 375 |
Income before income taxes and share of the profit of equity accounted investees |  |  | 8,175 |  |  |  | 4,987 |  |  |  | 573 |  |  |  | 244 |  |  |  | — |  |  |  | 960 |  |  |  | 24 |  |  |  | 14,963 |
Income taxes |  |  | 2,499 |  |  |  | 139 |  |  |  | 363 |  |  |  | 73 |  |  |  | 1 |  |  |  | 1,746 |  |  |  | — |  |  |  | 4,821 |
Share of the profit of equity accounted investees, net of tax |  |  | (110 | ) |  |  | (12 | ) |  |  | — |  |  |  | — |  |  |  | 3,120 |  |  |  | 1 |  |  |  | — |  |  |  | 2,999 |
Net income from continuing operations |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 13,141 |
Net income from discontinued operations |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 166 |
Consolidated net income |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 13,307 |
Depreciation and a amortization |  |  | 4,802 |  |  |  | 2,324 |  |  |  | 494 |  |  |  | 71 |  |  |  | — |  |  |  | 396 |  |  |  | — |  |  |  | 8,087 |
Non-cash items other than depreciation and amortization |  |  | 372 |  |  |  | 177 |  |  |  | 9 |  |  |  | 6 |  |  |  |  |  |  |  | 72 |  |  |  | — |  |  |  | 636 |
Investments in equity accounted investees (5) |  |  | 10,518 |  |  |  | 84 |  |  |  | — |  |  |  | — |  |  |  | 83,461 |  |  |  | 252 |  |  |  | — |  |  |  | 94,315 |
Total assets (5) |  |  | 263,787 |  |  |  | 75,146 |  |  |  | 35,881 |  |  |  | 7,015 |  |  |  | 86,340 |  |  |  | 150,674 |  |  |  | (42,462 | ) |  |  | 576,381 |
Total liabilities (5) |  |  | 132,037 |  |  |  | 56,468 |  |  |  | 23,357 |  |  |  | 6,142 |  |  |  | 4,054 |  |  |  | 61,340 |  |  |  | (42,559 | ) |  |  | 240,839 |
Investments in fixed assets (4) |  |  | 11,069 |  |  |  | 9,441 |  |  |  | 1,162 |  |  |  | 520 |  |  |  | — |  |  |  | 2,391 |  |  |  | (317 | ) |  |  | 24,266 |
(1) | Includes other companies and corporate (see Note 1).
(2) | Includes bottle breakage.
(3) | Includes foreign exchange gain, net; gain on monetary position for subsidiaries in hyperinflationary economies; and market value loss on financial instruments.
(4) | Includes acquisitions and disposals of property, plant and equipment, intangible assets and other long-lived assets.
(5) | As of December 31, 2018
b) | By Geographic Area:
The Company aggregates geographic areas into the following for the purposes of its consolidated financial statements: (i) Mexico and Central America division (comprising the following countries: Mexico, Guatemala, Nicaragua, Costa Rica and Panama) and (ii) the South America division (comprising the following countries: Brazil, Argentina, Colombia, Chile, Ecuador, Peru and Uruguay). (iii) Europe (comprised of the Company’s equity method investment in Heineken Group). For further information related with aggregates geographic areas see Note 24.2 Disaggregation of revenue. Geographic disclosure for the Company non-current assets is as follow:
|  | June 30, 2019 |  |  | December 31, 2018 |
Mexico and Central America (1) |  | Ps. | 233,686 |  |  | Ps. | 195,310 |
South America (2) |  |  | 137,247 |  |  |  | 120,003 |
Europe |  |  | 83,724 |  |  |  | 83,461 |
Consolidated |  | Ps. | 454,657 |  |  | Ps. | 398,774 |
(1) | Domestic (Mexico only) non-current assets were Ps. 228,201 and Ps. 185,857, as of June 30, 2019 and December 31, 2018, respectively.
(2) | South America non-current assets includes Brazil, Argentina, Colombia, Chile and Uruguay. Brazilian non-current assets were Ps. 76.921 and Ps. 76,869, as of June 30, 2019 and December 31, 2018, respectively. Colombia non-current assets were Ps. 17,227 and Ps. 16,664, as of June 30, 2019 and December 31, 2018, respectively. Argentina non-current assets were Ps. 4,808 and Ps. 4,538, as of June 30, 2019 and December 31, 2018, respectively. Chile non-current assets were Ps. 33,248 and Ps. 16,787, as of June 30, 2019 and December 31, 2018, respectively. Uruguay non-current assets were Ps. 5,012 and Ps. 5,145, as of June 30, 2019 and December 31, 2018, respectively.

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