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Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2019

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Summary of Financial Assets and Liabilities Measured at Fair Value

The following table summarizes the Company’s financial assets and liabilities measured at fair value, as of June 30, 2019 and December 31, 2018:

		June 30, 2019								December 31, 2018
		Level 1				Level 2				Level 1				Level 2
Derivative financial instrument (current asset)			27				770				—				735
Derivative financial instrument (non-current asset)			—				9,807				—				10,752
Derivative financial instrument (current liability)			201				352				236				147
Derivative financial instrument (non-current liability)			—				2,243				—				1,262

Fair Value of Company's Publicly Traded Debt

considered to be level 2 in the fair value hierarchy. The fair value of the Company’s publicly traded debt is based on quoted market prices as of of June 30, 2019 and December 31, 2018, which is considered to be level 1 in the fair value hierarchy.

		June 30, 2019				December 31, 2018
Carrying value		Ps.	123,260			Ps.	128,664
Fair value			128,757				128,741

Disclosure of Outstanding Interest Rate Swap Agreements

As of June 30, 2019, the Company has the following outstanding interest rate swap agreements:

Maturity Date		Notional Amount				Fair Value Liability June 30, 2019				Fair Value Asset June 30, 2019
2019			Ps. 3,908			Ps.	(31	)			Ps.—
2020			4,440				(151	)			—
2021			4,411				(236	)			—
2022			538				(22	)			—
2023			13,095				(79	)			546

As of December 31, 2018, the Company has the following outstanding interest rate swap agreements:

Maturity Date		Notional Amount				Fair Value Liability December 31, 2018				Fair Value Asset December 31, 2018
2019		Ps.	4,032			Ps.	(49	)		Ps.	—
2020			4,559				(112	)			—
2021			4,548				(151	)			—
2022			617				(18	)			—
2023			13,101				(49	)			1,143

Disclosure of Outstanding Forward Agreements to Purchase Foreign Currency

As of June 30, 2019, the Company had the following outstanding forward agreements to purchase foreign currency:

Maturity Date		Notional Amount				Fair Value Liability June 30, 2019				Fair Value Asset June 30, 2019
2019		Ps.	6,479			Ps.	(80	)		Ps.	28
2020			1,209				—				1

As of December 31, 2018, the Company had the following outstanding forward agreements to purchase foreign currency:

Maturity Date		Notional Amount				Fair Value Liability December 31, 2018				Fair Value Asset December 31, 2018
2019		Ps.	5,808			Ps.	(65	)		Ps.	133

Summary of Outstanding Colar Options to Purchase Foreign Currency

As of June 30, 2019, the Company paid a net premium of Ps. 23 million for the following outstanding collar options to purchase foreign currency:

Maturity Date		Notional Amount				Fair Value Asset June 30, 2019				Fair Value Asset June 30, 2019
2019		Ps.	813			Ps.	(19	)		Ps.	4
2020			907				(20	)			8

At December 31, 2018, the Company paid a net premium of Ps. 43 million for the following outstanding collar options to purchase foreign currency:

Maturity Date		Notional Amount				Fair Value Liability December 31, 2018				Fair Value Asset December 31, 2018
2019		Ps.	1,734			Ps.	(33	)		Ps.	57

Disclosure of Outstanding Cross Currency Swap Agreements

At June 30, 2019, the Company had the following outstanding cross – currency swap agreements:

Maturity Date		Notional Amount				Fair Value Liability June 30, 2019				Fair Value Asset June 30, 2019
2019		Ps.	4,615			Ps.	—			Ps.	502
2020			17,569				(289	)			554
2021			4,659				—				578
2022			391				(7	)			1
2023			23,654				(783	)			7,461
2024			695				(39	)			—
2026			803				(167	)			—
2027			6,709				(401	)			—
2029			1,527				—				18
2043			8,869				—				601

As of December 31, 2018, the Company had the following outstanding cross – currency swap agreements:

Maturity Date		Notional Amount				Fair Value Liability December 30, 2018				Fair Value Asset December 31, 2018
2019		Ps.	4,738			Ps.	—			Ps.	502
2020			18,126				(378	)			1,015
2021			4,774				—				615
2023			396				(7	)			—
2026			23,948				(396	)			7,818
2027			813				(154	)			—
2028			6,889				(42	)			202

Disclosure of Fair Value of Commodity Price Contracts

As of June 30, 2019, Coca-Cola FEMSA had the following sugar price contracts:

Maturity Date		Notional Amount				Fair Value Asset June 30, 2019
2019		Ps.	971			Ps.	(33	)
2020			209				13

As of December 31, 2018, Coca-Cola FEMSA had the following sugar price contracts:

Maturity Date		Notional Amount				Fair Value Asset December 31, 2018
2019		Ps.	1,223			Ps.	(88	)

As of June 30, 2019, Coca-Cola FEMSA had the following aluminum price contracts:

Maturity Date		Notional Amount				Fair Value Asset June 30, 2019
2019		Ps.	398			Ps.	(24	)
2020			39				(1	)

As of December 31, 2018, Coca-Cola FEMSA had the following aluminum price contracts:

Maturity Date		Notional Amount				Fair Value Asset December 31, 2018
2019		Ps.	265			Ps.	(17	)

As of June 30, 2019, Coca-Cola FEMSA had the following PX+MEG contracts:

Maturity Date		Notional Amount				Fair Value Liability June 30, 2019
2019		Ps.	651			Ps.	(110	)
2020			165				(28	)

As of December 31, 2018, Coca-Cola FEMSA had the following PX+MEG contracts:

Maturity Date		Notional Amount				Fair Value Asset December 31, 2018
2019		Ps.	1,303			Ps.	(131	)

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