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Equity Method Accounted Investees | 12 Months Ended
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Dec. 31, 2021
IFRS Text Block [Abstract] |
Equity Method Accounted Investees | Note 10. Equity Method Accounted Investees As of December 31, 2021 and 2020, Company’s equity method accounted investees are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | Ownership Percentage | ​ | ​ | Carrying Value
​ |  | Principal |  | ​ |  | December 31, |  | December 31, |  | ​ | December 31, |  | ​ | December 31,
Investee |  | Activity |  | Place of Incorporation |  | 2021 |  | 2020 |  | ​ | 2021 |  | ​ | 2020
Heineken (1) (2) |  | Beverages |  | The Netherlands |  | 14.8 | % | 14.8 | % | Ps. | 96,349 |  | Ps. | 87,291
Coca-Cola FEMSA: |  |  |  |  |  |  |  |  |  | ​ |  |  | ​ |
Joint ventures: |  |  |  |  |  |  |  |  |  | ​ |  |  | ​ |
Dispensadoras de Café, S.A.P.I. de C.V. |  | Services |  | Mexico |  | 50.0 | % | 50.0 | % | ​ | 183 |  | ​ | 181
Fountain Agua Mineral, L.T.D.A. |  | Beverages |  | Brazil |  | 50.0 | % | 50.0 | % | ​ | 699 |  | ​ | 720
Planta Nueva Ecología De Tabasco, S.A. de C.V. | ​ | Recycling | ​ | Mexico | ​ | 50.0 | % | - | % | ​ | 18 | ​ | ​ | -
Associates: |  |  |  |  |  |  |  |  |  | ​ |  |  | ​ |
Promotora Industrial Azucarera, S.A. de C.V. (“PIASA”) |  | Sugar production | ​ | Mexico |  | 36.4 | % | 36.4 | % | ​ | 3,348 |  | ​ | 3,335
Industria Envasadora de Querétaro, S.A. de C.V. (“IEQSA”) |  | Canned bottling |  | Mexico |  | 26.5 | % | 26.5 | % | ​ | 178 |  | ​ | 192
Industria Mexicana de Reciclaje, S.A. de C.V. (“IMER”) |  | Recycling |  | Mexico |  | 35.0 | % | 35.0 | % | ​ | 102 |  | ​ | 121
Jugos del Valle, S.A.P.I. de C.V. |  | Beverages |  | Mexico |  | 28.8 | % | 28.8 | % | ​ | 2,128 |  | ​ | 1,945
Leao Alimentos e Bebidas, L.T.D.A. |  | Beverages |  | Brazil |  | 24.7 | % | 24.7 | % | ​ | 404 |  | ​ | 446
TROP Frutas do Brasil S.A. (“TROP”) | ​ | Beverages |  | Brazil | ​ | 23.6 | % | 23.6 | % | ​ | 55 | ​ | ​ | 359
Alimentos de Soja S.A.U. | ​ | Beverages | ​ | Argentina | ​ | 10.7 | % | 10.7 | % | ​ | 263 | ​ | ​ | 207
Other investments of Coca-Cola FEMSA’s companies |  | Various |  | Various |  | Various |  | Various |  | ​ | 116 |  | ​ | 117
FEMSA Comercio: |  |  |  |  |  |  |  |  |  | ​ |  |  | ​ |
Raizen Conveniências |  | Proximity |  | Brazil |  | 50.0 | % | 50.0 | % | ​ | 2,567 |  | ​ | 2,763
Other investments (1) (3) |  | Various |  | Various |  | Various |  | Various |  | ​ | 889 |  | ​ | 593
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | Ps. | 107,299 |  | Ps. | 98,270
(1) | Associate.
(2) | As of December 31, 2021 and 2020 comprised of 8.63% of Heineken, N.V. and 12.26% of Heineken Holding, N.V., which represents an economic interest of 14.76% in Heineken Group. The Company has significant influence, mainly, because it participates in the Board of Directors of Heineken Holding, N.V. and the Supervisory Board of Heineken N.V.; and for the material transactions between the Company and Heineken Group.
(3) | Joint ventures.
​ During 2021 and 2020 Coca-Cola FEMSA received dividends from Industria Envasadora de Querétaro, S.A. de C.V. ("IEQSA") for the amount of Ps. 16 and Ps. 16, respectively. In 2020 Coca-Cola FEMSA received dividends from Promotora Mexicana de Embotelladores, S.A. de C.V. for the amount of Ps. 1. In 2021 Coca-Cola FEMSA made capital contributions to Jugos del Valle, S.A.P.I. de C.V. for the amounts of Ps. 44 and there were no changes in the ownership percentage as a result of capital contributions made by the other shareholders. In 2021 Coca-Cola FEMSA made a capital reduction on Leao Alimentos y Bebidas LTDA. for the amount of Ps. 46, and there were no changes in the ownership percentage as a result of the capital reduction. In 2021, Coca-Cola FEMSA recognized an impairment on its investment in Trop Frutas Do Brasil LTDA. for the amount of Ps. 250, which was included in the other expenses line. During 2020 Coca-Cola FEMSA recognized impairments on its investment in Compañía Panameña de Bebidas, S.A.P.I. de C.V. and Leao Alimentos y Bebidas LTDA. for the amounts of Ps. 1,463 and Ps. 1,038, respectively. During 2019 the Company recognized an impairment on its investment in Compañía Panameña de Bebidas, S.A.P.I. de C.V. for the amount of Ps. 948, which was included in other expenses line. On September 30, 2020, Coca-Cola FEMSA announced that its joint venture with The Coca-Cola Company (Compañía Panameña de Bebidas, S.A.P.I. de C.V.) successfully sold 100% of its stock interest in Estrella Azul, a dairy products company in Panama. As part of the transaction, Coca-Cola FEMSA agreed with the buyer to receive payments in the future if the business of Estrella Azul achieves certain volume and EBITDA targets during the 2022-2027 period. Coca-Cola FEMSA estimated the amount of the payments to be received based on the forecasts of the business and calculated their net present value. As of December 31, 2021 and 2020, the financial asset recognized in the consolidated statement of financial position has a total value of Ps. 5 and Ps. 8, respectively. This transaction is presented in the other expenses line of the consolidated financial statements as Coca-Cola FEMSA concluded did not achieve the requirements to be considered as a discontinued operation under IFRS 5. On April 30, 2010, the Company acquired an economic interest of 20% of Heineken Group. Heineken’s main activities are the production, distribution and marketing of beer worldwide. On September 18, 2017, the Company concluded the sale of a portion of its investment, representing 5.2% combined economic interest, consisting of 22,485,000 Heineken N.V. shares and 7,700,000 Heineken Holding N.V. shares at the price of €. 84.50 and €. 78.00 per share, respectively. The Company recognized an equity income (loss) of Ps. 10,775, Ps. (434) and Ps. 6,428 net of taxes based on its economic interest in Heineken Group for the years ended December 31, 2021, 2020 and 2019, respectively. The economic interest as of December 31, 2021 and 2020 was 14.8%. The Company’s share of the net income (loss) attributable to equity holders of Heineken Group exclusive of amortization of adjustments amounted to Ps. 11,635 (€.491 million), Ps. (842) (€. (30) million) and Ps. 6,885 (€.320 million), for the years ended December 31, 2021, 2020 and 2019, respectively. Summarized financial information in respect of the associate Heineken Group accounted for under the equity method is set out below. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2021 | ​ | December 31, 2020
Amounts in millions |  | Peso |  | Euro |  | Peso |  | Euro
Total current assets |  | Ps. | 222,653 |  | €. | 9,578 |  | Ps. | 221,182 |  | €. | 9,020
Total non-current assets |  | ​ | 912,929 |  | ​ | 39,272 |  | ​ | 824,210 |  | ​ | 33,612
Total current liabilities |  | ​ | 281,141 |  | ​ | 12,094 |  | ​ | 266,497 |  | ​ | 10,868
Total non-current liabilities |  | ​ | 396,489 |  | ​ | 17,056 |  | ​ | 425,984 |  | ​ | 17,372
Total equity |  | ​ | 457,952 |  | ​ | 19,700 |  | ​ | 352,911 |  | ​ | 14,392
Equity attributable to equity holders |  | ​ | 403,463 |  | ​ | 17,356 |  | ​ | 328,393 |  | ​ | 13,392
Total revenue and other income |  | Ps. | 555,269 |  | €. | 23,462 |  | Ps. | 479,996 |  | €. | 19,771
Total cost and expenses |  | ​ | 449,171 |  | ​ | 18,979 |  | ​ | 461,108 |  | ​ | 18,993
Net income (loss) |  | Ps. | 83,662 |  | €. | 3,535 |  | Ps. | (2,136) |  | €. | (88)
Net income (loss) attributable to equity holders |  | ​ | 78,668 |  | ​ | 3,324 |  | ​ | (4,953) |  | ​ | (204)
Other comprehensive income (loss) |  | ​ | 31,713 |  | ​ | 1,340 |  | ​ | (48,944) |  | ​ | (2,016)
Total comprehensive income (loss) |  | Ps. | 115,375 |  | €. | 4,875 |  | Ps. | (51,080) |  | €. | (2,104)
Total comprehensive income (loss) attributable to equity holders |  | ​ | 107,968 |  | ​ | 4,562 |  | ​ | (51,639) |  | ​ | (2,127)
​ Reconciliation from the equity of the associate Heineken Group to the investment of the Company. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2021 | ​ | December 31, 2020 |
Amounts in millions |  | Peso |  | Euro |  | Peso |  | Euro |
Equity attributable to equity holders of Heineken |  | Ps. | 403,463 |  | €. | 17,356 |  | Ps. | 328,393 |  | €. | 13,392 | ​
Economic ownership percentage |  | ​ | 14.76 | % | ​ | 14.76 | % | ​ | 14.76 | % | ​ | 14.76 | %
Investment in Heineken investment exclusive of goodwill and other adjustments |  | Ps. | 59,534 |  | €. | 2,561 |  | Ps. | 48,471 |  | €. | 1,976 | ​
Effects of fair value determined by purchase price allocation |  | ​ | 16,342 |  | ​ | 703 |  | ​ | 17,226 |  | ​ | 703 | ​
Goodwill |  | ​ | 20,473 |  | ​ | 881 |  | ​ | 21,594 |  | ​ | 881 | ​
Heineken investment |  | Ps. | 96,349 |  | €. | 4,145 |  | Ps. | 87,291 |  | €. | 3,560 | ​
​ As of December 31, 2021 and 2020, the fair value of the Company’s investment in Heineken N.V. Holding and Heineken N.V. represented by shares equivalent to 14.8% of its outstanding shares amounted to Ps. 181,059 (€.7,779 million) and Ps. 176,718 (€.7,255 million) based on quoted market prices of those dates. As of April 8, 2022, issuance date of these consolidated financial statements, fair value amounted to €. 6,985 million. During the years ended December 31, 2021, 2020 and 2019, the Company received dividends distributions from Heineken Group, amounting to Ps. 2,005, Ps. 2,322 and Ps. 3,031, respectively. For the years ended December 31, 2021, 2020 and 2019 the equity (loss) earnings recognized for associates of Coca-Cola FEMSA was Ps. 85, Ps. (124) and Ps. 84, respectively. For the years ended December 31, 2021, 2020 and 2019 the equity (loss) earnings recognized for joint ventures of Coca-Cola FEMSA was Ps. 3, Ps. (157) and Ps. (215), respectively. For the year ended December 31, 2021, 2020 and 2019, the Company’s share of other comprehensive income from equity investees, net of taxes are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2021 |  | 2020 |  | 2019
Items that may be reclassified to consolidated net income, net of taxes: |  | ​ |  |  | ​ |  |  | ​ |
Valuation of the effective portion of derivative financial instruments |  | Ps. | 32 |  | Ps. | (14) |  | Ps. | —
Exchange differences on translating foreign operations |  | ​ | 2,893 |  | ​ | (5,934) |  | ​ | 1,058
Total |  | Ps. | 2,925 |  | Ps. | (5,948) |  | Ps. | 1,058
Items that may not be reclassified to consolidated net income in subsequent periods, net of taxes: |  | ​ |  |  | ​ |  |  | ​ |
Remeasurements of the net defined benefit liability |  | Ps. | 590 |  | Ps. | (111) |  | Ps. | (389)
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