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Employee Benefits (Tables) | 12 Months Ended
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Dec. 31, 2019
Statement [LineItems] |
Summary of Actuarial Assumptions | Actuarial calculations for pension and retirement plans, seniority premiums and post-retirement medical benefits, as well as the associated cost for the period, were determined using the following long-term assumptions for Mexico:
Mexico |  | December 31, 2019 |  |  | December 31, 2018 |  |  | December 31, 2017 |
Financial: |  |  |  |  |  |  |  |  |  |  |  |
Discount rate used to calculate the defined benefit obligation |  |  | 7.50 | % |  |  | 9.40 | % |  |  | 7.60 | %
Salary increase |  |  | 4.50 | % |  |  | 4.60 | % |  |  | 4.50 | %
Future pension increases |  |  | 3.50 | % |  |  | 3.60 | % |  |  | 3.50 | %
Healthcare cost increase rate |  |  | 5.10 | % |  |  | 5.10 | % |  |  | 5.10 | %
Biometric: |  |  |  |  |  |  |  |  |  |  |  |
Mortality (1) |  |  | EMSSA 2009 |  |  |  | EMSSA 2009 |  |  |  | EMSSA 2009 |
Disability (2) |  |  | IMSS-97 |  |  |  | IMSS-97 |  |  |  | IMSS-97 |
Normal retirement age |  |  | 60 years |  |  |  | 60 years |  |  |  | 60 years |
Employee turnover table (3) |  |  | BMAR 2007 |  |  |  | BMAR 2007 |  |  |  | BMAR 2007 |
Measurement date December:
(1) | EMSSA. Mexican Experience of social security.
(2) | IMSS. Mexican Experience of Instituto Mexicano del Seguro Social.
(3) | BMAR. Actuary experience.
Summary of Defined Benefit Plan Expected Future Benefit Payments | Based on these assumptions, the amounts of benefits expected to be paid out in the following years are as follows:
|  | Pension and Retirement Plans |  |  | Seniority Premiums |  |  | Post-Retirement Medical Services |  |  | Total |
2020 |  | Ps. | 767 |  |  | Ps. | 129 |  |  | Ps. | 20 |  |  | Ps. | 916 |
2021 |  |  | 332 |  |  |  | 111 |  |  |  | 21 |  |  |  | 464 |
2022 |  |  | 340 |  |  |  | 107 |  |  |  | 22 |  |  |  | 469 |
2023 |  |  | 414 |  |  |  | 106 |  |  |  | 22 |  |  |  | 542 |
2024 |  |  | 405 |  |  |  | 107 |  |  |  | 23 |  |  |  | 535 |
2025 to 2029 |  |  | 3,192 |  |  |  | 594 |  |  |  | 124 |  |  |  | 3,910 |
Summary of Balances of the Liabilities for Employee Benefits |
|  | December 31, 2019 |  |  | December 31, 2018 |
Pension and Retirement Plans: |  |  |  |  |  |  |  |
Defined benefit obligation |  | Ps. | 7,193 |  |  | Ps. | 6,189 |
Pension plan funds at fair value |  |  | (2,678 | ) |  |  | (2,501 | )
Net defined benefit liability |  | Ps. | 4,515 |  |  | Ps. | 3,688 |
Seniority Premiums: |  |  |  |  |  |  |  |
Defined benefit obligation |  | Ps. | 1,237 |  |  | Ps. | 772 |
Seniority premium plan funds at fair value |  |  | (127 | ) |  |  | (111 | )
Net defined benefit liability |  | Ps. | 1,110 |  |  | Ps. | 661 |
Postretirement Medical Services: |  |  |  |  |  |  |  |
Defined benefit obligation |  | Ps. | 797 |  |  | Ps. | 418 |
Medical services funds at fair value |  |  | (75 | ) |  |  | (68 | )
Net defined benefit liability |  | Ps. | 722 |  |  | Ps. | 350 |
Total Employee Benefits |  | Ps. | 6,347 |  |  | Ps. | 4,699 |
Summary of Trust Assets | Trust assets consist of fixed and variable return financial instruments recorded at fair value (Level 1), which are invested as follows:
|  | December 31, 2019 |  |  | December 31, 2018 |
Fixed return: |  |  |  |  |  |  |  |
Traded securities |  |  | 9 | % |  |  | 19 | %
Bank instruments |  |  | 23 | % |  |  | 6 | %
Federal government instruments of the respective countries |  |  | 33 | % |  |  | 60 | %
Variable return: |  |  |  |  |  |  |  |
Publicly traded shares |  |  | 35 | % |  |  | 15 | %
|  |  | 100 | % |  |  | 100 | %
Summary of Amounts and Types of Securities in Related Parties Included in Portfolio Fund | In Mexico, the amounts and types of securities of the Company in related parties included in portfolio fund are as follows:
|  | December 31, 2019 |  |  | December 31, 2018 |
Debt: |  |  |  |  |  |  |  |
El Puerto de Liverpool, S.A.B. de C.V. |  | Ps. | 30 |  |  | Ps. | 30 |
Grupo Industrial Bimbo, S.A.B. de C. V. |  |  | 31 |  |  |  | 27 |
BBVA Bancomer, S.A de C.V. |  |  | 20 |  |  |  | 19 |
Grupo Financiero Banorte, S.A.B. de C.V. |  |  | 8 |  |  |  | 8 |
Grupo Financiero Scotiabank Inverlat, S.A. de C.V. |  |  | 10 |  |  |  | — |
Grupo Televisa, S.A.B. de C.V. |  |  | — |  |  |  | 45 |
Gentera, S.A.B. de C.V. |  |  | — |  |  |  | 4 |
Equity: |  |  |  |  |  |  |  |
CEMEX, S.A.B. de C.V. |  |  | 12 |  |  |  | 3 |
Alfa, S.A.B. de C.V. |  |  | 6 |  |  |  | — |
El Puerto de Liverpool, S.A.B. de C.V. |  |  | 2 |  |  |  | 3 |
Others |  |  | 3 |  |  |  | — |
Grupo Televisa, S.A.B. de C.V. |  |  | — |  |  |  | 1 |
Grupo Aeroportuario del Suereste, S.A.B. de C.V. |  |  | — |  |  |  | 2 |
Summary of Amount Recognized in Consolidated Income Statements and Consolidated Statements of Comprehensive Income |
|  | Income Statement |  |  | AOCI (1) |
December 31, 2019 |  | Current Service Cost |  |  | Past Service Cost |  |  | Gain or Loss on Settlement or Curtailment |  |  | Net Interest on the Net Defined Benefit Liability |  |  | Remeasurements of the Net Defined Benefit Liability |
Pension and retirement plans |  | Ps. | 279 |  |  | Ps. | (45 | ) |  | Ps. | 2 |  |  | Ps. | 290 |  |  | Ps. | 1,608 |
Seniority premiums |  |  | 139 |  |  |  | 161 |  |  |  | — |  |  |  | 57 |  |  |  | 162 |
Postretirement medical services |  |  | 15 |  |  |  | — |  |  |  | — |  |  |  | 32 |  |  |  | 396 |
Total |  | Ps. | 433 |  |  | Ps. | 116 |  |  | Ps. | 2 |  |  | Ps. | 379 |  |  | Ps. | 2,166 |
December 31, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pension and retirement plans |  | Ps. | 318 |  |  | Ps. | — |  |  | Ps. | (5 | ) |  | Ps. | 304 |  |  | Ps. | 668 |
Seniority premiums |  |  | 125 |  |  |  | — |  |  |  | (8 | ) |  |  | 49 |  |  |  | (63 | )
Postretirement medical services |  |  | 25 |  |  |  | — |  |  |  | (1 | ) |  |  | 34 |  |  |  | 41 |
Total |  | Ps. | 468 |  |  | Ps. | — |  |  | Ps. | (14 | ) |  | Ps. | 387 |  |  | Ps. | 646 |
December 31, 2017 |  | Current Service Cost |  |  | Past Service Cost |  |  | Gain or Loss on Settlement or Curtailment |  |  | Net Interest on the Net Defined Benefit Liability |  |  | Remeasurements of the Net Defined Benefit Liability |
Pension and retirement plans |  | Ps. | 244 |  |  | Ps. | 10 |  |  | Ps. | (2 | ) |  | Ps. | 248 |  |  | Ps. | 1,061 |
Seniority premiums |  |  | 106 |  |  |  | — |  |  |  | (1 | ) |  |  | 41 |  |  |  | 46 |
Postretirement medical services |  |  | 24 |  |  |  | — |  |  |  | — |  |  |  | 30 |  |  |  | 184 |
Total |  | Ps. | 374 |  |  | Ps. | 10 |  |  | Ps. | (3 | ) |  | Ps. | 319 |  |  | Ps. | 1,291 |
(1) | Amounts accumulated in other comprehensive income as of the end of the period.
Summary of Remeasurements of Net Defined Benefit Liability Recognized in Accumulated Other Comprehensive Income | Remeasurements of the net defined benefit liability recognized in accumulated other comprehensive income are as follows:
|  | December 31, 2019 |  |  | December 31, 2018 |  |  | December 31, 2017 |
Amount accumulated in other comprehensive income as of the beginning of the period, net of tax |  | Ps. | 475 |  |  | Ps. | 892 |  |  | Ps. | 966 |
Actuarial (gains) arising from exchange rates |  |  | (30 | ) |  |  | (21 | ) |  |  | (2 | )
Remeasurements during the year, net of tax |  |  | 100 |  |  |  | 221 |  |  |  | 295 |
Actuarial losses and (gains) arising from changes in financial assumptions |  |  | 1,071 |  |  |  | (617 | ) |  |  | (367 | )
Effect on settlement |  |  | 8 |  |  |  | — |  |  |  | — |
Amount accumulated in other comprehensive income as of the end of the period, net of tax |  | Ps. | 1,624 |  |  | Ps. | 475 |  |  | Ps. | 892 |
Summary of Changes in the Balance of the Defined Benefit Obligation for Post-employment |
|  | December 31, 2019 |  |  | December 31, 2018 |  |  | December 31, 2017 |
Pension and Retirement Plans: |  |  |  |  |  |  |  |  |  |  |  |
Initial balance |  | Ps. | 6,189 |  |  | Ps. | 7,370 |  |  | Ps. | 5,702 |
Current service cost |  |  | 279 |  |  |  | 318 |  |  |  | 341 |
Past service (credit) cost |  |  | (45 | ) |  |  | — |  |  |  | 10 |
Interest expense |  |  | 530 |  |  |  | 484 |  |  |  | 491 |
Settlement / Curtailment |  |  | 2 |  |  |  | (5 | ) |  |  | (2 | )
Remeasurements of the net defined benefit obligation |  |  | 859 |  |  |  | (740 | ) |  |  | 263 |
Foreign exchange loss (gain) |  |  | (69 | ) |  |  | (86 | ) |  |  | (79 | )
Benefits paid |  |  | (582 | ) |  |  | (450 | ) |  |  | (550 | )
(Derecognition) acquisitions |  |  | 30 |  |  |  | (702 | ) |  |  | 1,194 |
Ending balance |  | Ps. | 7,193 |  |  | Ps. | 6,189 |  |  | Ps. | 7,370 |
Seniority Premiums: |  |  |  |  |  |  |  |  |  |  |  |
Initial balance |  | Ps. | 772 |  |  | Ps. | 783 |  |  | Ps. | 663 |
Current service cost |  |  | 139 |  |  |  | 125 |  |  |  | 106 |
Past service cost |  |  | 161 |  |  |  | — |  |  |  | — |
Interest expense |  |  | 68 |  |  |  | 57 |  |  |  | 49 |
Settlement |  |  | — |  |  |  | (8 | ) |  |  | (1 | )
Remeasurements of the net defined benefit obligation |  |  | 230 |  |  |  | (115 | ) |  |  | 28 |
Benefits paid |  |  | (133 | ) |  |  | (77 | ) |  |  | (68 | )
Acquisitions |  |  | — |  |  |  | 7 |  |  |  | 6 |
Ending balance |  | Ps. | 1,237 |  |  | Ps. | 772 |  |  | Ps. | 783 |
Postretirement Medical Services: |  |  |  |  |  |  |  |  |  |  |  |
Initial balance |  | Ps. | 418 |  |  | Ps. | 524 |  |  | Ps. | 460 |
Current service cost |  |  | 15 |  |  |  | 25 |  |  |  | 24 |
Interest expense |  |  | 38 |  |  |  | 39 |  |  |  | 34 |
Curtailment / Settlement |  |  | — |  |  |  | (1 | ) |  |  | — |
Remeasurements of the net defined benefit obligation |  |  | 356 |  |  |  | (143 | ) |  |  | 32 |
Benefits paid |  |  | (30 | ) |  |  | (26 | ) |  |  | (26 | )
Ending balance |  | Ps. | 797 |  |  | Ps. | 418 |  |  | Ps. | 524 |
Summary of Changes in the Balance of Plan Assets |
|  | December 31, 2019 |  |  | December 31, 2018 |  |  | December 31, 2017 |
Total Plan Assets: |  |  |  |  |  |  |  |  |  |  |  |
Initial balance |  | Ps. | 2,680 |  |  | Ps. | 3,304 |  |  | Ps. | 2,378 |
Actual return on trust assets |  |  | 174 |  |  |  | 47 |  |  |  | 213 |
Foreign exchange loss (gain) |  |  | 2 |  |  |  | (1 | ) |  |  | 86 |
Life annuities |  |  | 24 |  |  |  | 35 |  |  |  | 65 |
Benefits paid |  |  | — |  |  |  | (1 | ) |  |  | (136 | )
(Derecognition) acquisitions |  |  | — |  |  |  | (704 | ) |  |  | 698 |
Ending balance |  | Ps. | 2,880 |  |  | Ps. | 2,680 |  |  | Ps. | 3,304 |
Summary of Amount of Defined Benefit Plan Expense and OCI Impact in Absolute Terms of Variation on Net Defined Benefit Liability | The following table presents the amount of defined benefit plan expense and OCI impact in absolute terms of a variation of 1% in the assumptions on the net defined benefit liability associated with the Company’s defined benefit plans. The sensitivity of this 1% on the significant actuarial assumptions is based on a projected long-term discount rates for Mexico and a yield curve projection of long-term Mexican government bonds—CETES:
+1%: |  | Income Statement |  |  | OCI (1) |
Discount rate used to calculate the defined benefit obligation and the net interest on the net defined benefit liability |  | Current Service Cost |  |  | Gain or Loss on Settlement or Curtailment |  |  | Effect of Net Interest on the Net Defined Benefit Liability (Asset) |  |  | Remeasurements of the Net Defined Benefit Liability (Asset) |
Pension and retirement plans |  | Ps. | 180 |  |  | Ps. | 1 |  |  | Ps. | 237 |  |  | Ps. | 1,379 |
Seniority premiums |  |  | 283 |  |  |  | — |  |  |  | 52 |  |  |  | 147 |
Postretirement medical services |  |  | 6 |  |  |  | — |  |  |  | 29 |  |  |  | 335 |
Total |  | Ps. | 469 |  |  | Ps. | 1 |  |  | Ps. | 318 |  |  | Ps. | 1,861 |
Expected salary increase |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pension and retirement plans |  | Ps. | 205 |  |  | Ps. | 2 |  |  | Ps. | 329 |  |  | Ps. | 1,493 |
Seniority premiums |  |  | 320 |  |  |  | — |  |  |  | 62 |  |  |  | 178 |
Total |  | Ps. | 525 |  |  | Ps. | 2 |  |  | Ps. | 391 |  |  | Ps. | 1,671 |
Assumed rate of increase in healthcare costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Postretirement medical services |  | Ps. | 8 |  |  | Ps. | — |  |  | Ps. | 40 |  |  | Ps. | 431 |
+1%: |  |  |  |  |  |  |  |  |  |  |  |
Discount rate used to calculate the defined benefit obligation and the net interest on the net defined benefit liability |  | Current Service Cost |  |  | Gain or Loss on Settlement or Curtailment |  |  | Effect of Net Interest on the Net Defined Benefit Liability (Asset) |  |  | Remeasurements of the Net Defined Benefit Liability (Asset) |
Pension and retirement plans |  | Ps. | 199 |  |  | Ps. | 2 |  |  | Ps. | 356 |  |  | Ps. | 1,528 |
Seniority premiums |  |  | 317 |  |  |  | — |  |  |  | 63 |  |  |  | 1 |
Postretirement medical services |  |  | 8 |  |  |  | — |  |  |  | 41 |  |  |  | 429 |
Total |  | Ps. | 524 |  |  | Ps. | 2 |  |  | Ps. | 460 |  |  | Ps. | 1,958 |
Expected salary increase |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pension and retirement plans |  | Ps. | 178 |  |  | Ps. | 1 |  |  | Ps. | 267 |  |  | Ps. | 1,408 |
Seniority premiums |  |  | 281 |  |  |  | — |  |  |  | 53 |  |  |  | 147 |
Total |  | Ps. | 459 |  |  | Ps. | 1 |  |  | Ps. | 320 |  |  | Ps. | 1,555 |
Assumed rate of increase in healthcare costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Postretirement medical services |  | Ps. | 6 |  |  | Ps. | — |  |  | Ps. | 30 |  |  | Ps. | 333 |
(1) | Amounts accumulated in other comprehensive income as of the end of the period.
Summary of Employee Benefit Expenses Recognized in Consolidated Income Statements | For the years ended December 31, 2019, 2018 and 2017, employee benefits expenses recognized in the consolidated income statements as cost of goods sold, administrative and selling expenses are as follows:
|  | 2019 |  |  | 2018 |  |  | 2017 |
Wages and salaries |  | Ps. | 64,776 |  |  | Ps. | 58,745 |  |  | Ps. | 51,874 |
Social security costs |  |  | 11,494 |  |  |  | 10,486 |  |  |  | 9,800 |
Employee profit sharing |  |  | 1,205 |  |  |  | 1,294 |  |  |  | 1,209 |
Post-employment benefits |  |  | 795 |  |  |  | 842 |  |  |  | 700 |
Share-based payments |  |  | 200 |  |  |  | 405 |  |  |  | 351 |
Termination benefits |  |  | 169 |  |  |  | 132 |  |  |  | 159 |
|  | Ps. | 78,639 |  |  | Ps. | 71,904 |  |  | Ps. | 64,093 |

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