XML 78 R57.htm IDEA: XBRL DOCUMENT v3.22.1

Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2021

Statement [Line Items]

Disclosure of financial instruments at fair value through profit or loss

​

​	​	​	​	​	​	​	​	​
​	​	December 31, 2021			​	December 31, 2020
​		Level 1		Level 2		Level 1		Level 2
Financial instrument (current asset)	​	764	​	865	​	488	​	85
Financial instrument (non-current asset)		3,170		39,152		3,002		31,069
Financial instrument (current liability)		35		103		83		1,045
Financial instrument (non-current liability)		—		1,635		—		3,743

Fair Value of Company's Publicly Traded Debt

​	​	​	​	​	​	​
​		2021			2020
Carrying value		Ps.	190,585		Ps.	188,665
Fair value		​	198,232		​	208,134

Disclosure of Outstanding Interest Rate Swap Agreements

On December 31, 2021, the Company has the following outstanding interest rate swap agreements:

​	​	​	​	​	​	​	​	​	​
​		Notional			Fair Value Liability			Fair Value Asset
Maturity Date	​	Amount		​	December 31, 2021		​	December 31, 2021
2022		Ps.	131		Ps.	(1)		Ps.	—
2023		​	12,129		​	—		​	177
2024		​	2,367		​	(39)		​	—
2032		​	6,175		​	—		​	170

​

On December 31, 2020, the Company has the following outstanding interest rate swap agreements:

​	​	​	​	​	​	​	​	​	​
​		Notional			Fair Value Liability			Fair Value Asset
Maturity Date	​	Amount		​	December 31, 2020		​	December 31, 2020
2021		Ps.	449		Ps.	(6)		Ps.	—
2022		​	458		​	(16)		​	—
2023		​	12,918		​	(492)		​	—
2024		​	2,294		​	(126)		​	—

Disclosure of Outstanding Forward Agreements to Purchase Foreign Currency

On December 31, 2021, the Company had the following outstanding forward agreements to purchase foreign currency:

​	​	​	​	​	​	​	​	​	​
​		Notional			Fair Value Liability			Fair Value Asset
Maturity Date	​	Amount		​	December 31, 2021		​	December 31, 2021
2022		Ps.	6,384		Ps.	(104)		Ps.	78
2023		​	23		​	(2)		​	—
2024	​	​	2		​	—		​	—

​

On December 31, 2020, the Company had the following outstanding forward agreements to purchase foreign currency:

​	​	​	​	​	​	​	​	​	​
​		Notional			Fair Value Liability			Fair Value Asset
Maturity Date	​	Amount		​	December 31, 2020		​	December 31, 2020
2021		Ps.	9,042		Ps.	(1,040)		Ps.	4
2022		​	66		​	(41)		​	—
2023		​	23		​	(2)		​	—
2024		​	2		​	—		​	—

Disclosure of Outstanding Cross Currency Swap Agreements

On December 31, 2021, the Company had the following outstanding cross–currency swap agreements:

​	​	​	​	​	​	​	​	​	​
​	​	Notional		​	Fair Value Liability		​	Fair Value Asset
Maturity Date	​	Amount		​	December 31, 2021		​	December 31, 2021
2022		Ps.	4,872		Ps.	—		Ps.	982
2023		​	24,403		​	—		​	12,379
2024		​	1,400		​	—		​	438
2025		​	10,667		​	(1,564)		​	154
2026		​	6,348		​	(1)		​	220
2027		​	7,204		​	—		​	366
2029		​	16,389		​	(21)		​	655
2030		​	3,911		​	(8)		​	404
2043		​	8,869		​	—		​	1,553

​

On December 31, 2020, the Company had the following outstanding cross–currency swap agreements:

​	​	​	​	​	​	​	​	​	​
​	​	Notional		​	Fair Value Liability		​	Fair Value Asset
Maturity Date	​	Amount		​	December 31, 2020		​	December 31, 2020
2021		Ps.	4,575		Ps.	(5)		Ps.	169
2022		​	376		​	—		​	23
2023		​	24,103		​	—		​	10,808
2024		​	1,577		​	(9)		​	264
2025		​	10,750		​	(2,481)		​	—
2027		​	6,982		​	(464)		​	80
2029		​	1,519		​	—		​	122
2030	​	​	3,790	​	​	(107)	​	​	192
2043		​	8,869		​	—		​	2,706

Disclosure of Fair Value of Commodity Price Contracts

On December 31, 2021, Coca-Cola FEMSA had the following sugar price contracts:

​	​	​	​	​	​	​	​	​	​
​		Notional		​	Fair Value Liability			Fair Value Asset
Maturity Date	​	Amount		​	December 31, 2021		​	December 31, 2021
2022		Ps.	2,020	​	Ps.	(7)		Ps.	502
2023		​	769	​	​	—		​	195

​

On December 31, 2020, Coca-Cola FEMSA had the following sugar price contracts:

​	​	​	​	​	​	​	​	​	​
​		Notional		​	Fair Value Liability		​	Fair Value Asset
Maturity Date	​	Amount		​	December 31, 2020		​	December 31, 2020
2021		Ps.	1,260	​	Ps.	(18)	​	Ps.	275
2022		​	366	​	​	—	​	​	70

​

On December 31, 2021, Coca-Cola FEMSA had the following aluminum price contracts:

​	​	​	​	​	​	​
​		​	​		Fair Value Asset
​	​	Notional		​	December 31,
Maturity Date	​	Amount		​	2021
2022		Ps.	102		Ps.	62

​

On December 31, 2020, Coca-Cola FEMSA had the following aluminum price contracts:

​	​	​	​	​	​	​
​		​	​		Fair Value Asset
​	​	Notional		​	December 31,
Maturity Date	​	Amount		​	2020
2021		Ps.	695		Ps.	125
2022	​	​	99	​	​	17

​

On December 31, 2021, Coca-Cola FEMSA had the following PX+MEG (resine) contracts:

​	​	​	​	​	​	​	​	​	​
​		​	​	​	Fair Value Liability			Fair Value Asset
​	​	Notional		​	December 31,		​	December 31,
Maturity Date	​	Amount		​	2021		​	2021
2022		Ps.	470	​	Ps.	(28)		Ps.	5

​

On December 31, 2020, Coca-Cola FEMSA had the following PX+MEG (resine) contracts:

​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	Fair Value Liability		​	​	​
​	​	Notional		​	December 31,		​	​	​
Maturity Date	​	Amount		​	2020			​	​
2021		Ps.	729	​	Ps.	(65)		​	​

Disclosure of Net Effects of Expired Contracts Met Hedging Criteria

​	​	​	​	​	​	​	​	​	​	​	​
​		​		​	​		​	​		​	​
​	​	Impact in Consolidated	​	​	​	​	​	​	​	​	​
​	​	Income Statement	​	2021		​	2020		​	2019
Cross-currency swaps (1)		Interest expense		Ps.	—		Ps.	(109)		Ps.	199
Cross-currency swaps (1)		Foreign exchange		​	—		​	1,212		​	480
Interest rate swaps		Interest expense		​	—		​	(163)		​	515
Forward agreements to purchase foreign currency	​	Foreign exchange		​	41		​	(167)		​	(116)
Commodity price contracts		Cost of goods sold		​	1,245		​	(129)		​	(391)
Options to purchase foreign currency		Cost of goods sold		​	—		​	8		​	(63)
Forward agreements to purchase foreign currency	​	Cost of goods sold		​	(788)		​	839		​	(163)
Treasury locks	​	Interest expense		​	—		​	153		​	—

(1) This amount corresponds to the settlement of cross-currency swaps portfolio in Brazil presented as part of the other financial activities.

Disclosure of Net Effect of Changes in Fair Value of Derivative Financial Instruments Did Not Meet Hedging Criteria for Accounting Purposes

21.8 Net effect of changes in fair value of derivative financial instruments that did not meet the hedging criteria for accounting purposes.

​	​	​	​	​	​	​	​	​	​	​	​
​		Impact in Consolidated	​	​	​	​	​	​	​	​	​
Derivative		Income Statement	​	2021			2020			2019
Embedded derivatives		Market value gain on financial statements		Ps.	—		Ps.	—		Ps.	4
Cross-currency swaps		Market value gain (loss) on financial statements		​	80		​	(212)		​	(293)

​

21.9 Net effect of expired contracts that did not meet the criteria for hedge accounting purposes

​	​	​	​	​	​	​	​	​	​	​	​
​		Impact in Consolidated		​	​		​	​		​	​
Type of Derivatives	​	Income Statement	​	2021			2020			2019
Cross-currency swaps		Market value loss on financial instruments		Ps.	—		Ps.	(212)		Ps.	(293)
Embedded derivatives		Market value gain on financial instruments		​	—		​	—		​	4

Summary of Sensitivity Analysis of Interest Rate Risks Management

The following disclosures provide a sensitivity analysis of the interest rate risks management considered to be reasonably possible at the end of the reporting period, which the Company is exposed to as it relates to its fixed and floating rate borrowings, which it considers in its existing hedging strategy:

​	​	​	​	​	​
​		Change in		​	​
Interest Rate Swap (1)	​	Bps.	​	Effect on Equity
2021				​
FEMSA (2)		(100 Bps.)		Ps.	(212)
​	​	​	​	​	​
2020				​
FEMSA (2)		(100 Bps.)		Ps.	(354)
​	​	​	​	​	​
2019				​
FEMSA (2)		(100 Bps.)		Ps.	(432)
Coca-Cola FEMSA		(100 Bps.)		​	(37)

(1) The sensitivity analysis effects include all subsidiaries of the Company.

(2) Does not include Coca-Cola FEMSA.

​	​	​	​	​	​	​	​	​	​
Interest Effect of Unhedged Portion Bank Loans	​	2021		​	2020		​	2019
Change in interest rate		​	+100 Bps.		​	+100 Bps.		​	+100 Bps.
Effect on profit loss		Ps.	(627)		Ps.	(110)		Ps.	(50)

Summary of Maturity Analysis for Non-derivative and Derivative Financial Liabilities

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

2027 and

​

​

2022

​

2023

​

2024

​

2025

​

2026

​

thereafter

Non-derivative financial liabilities:

​

​

​

​

​

​

Notes and bonds

Ps.

4,439

Ps.

17,183

Ps.

2,918

Ps.

4,551

Ps.

5,271

Ps.

233,001

Loans from Banks

​

3,428

​

1,941

​

2,732

​

79

​

28

​

—

Other

​

55

​

44

​

32

​

25

​

1

​

—

Derivative financial liabilities

​

993

​

1,233

​

404

​

1,672

​

147

​

(11,787)

Summary of Financial Instruments to Hedge Exposure to Foreign Exchange Rates and Interest Rates

As of December 31, 2021, the Company’s financial instruments used to hedge its exposure to foreign exchange rates and interest rates are as follows:

​	​	​	​	​	​	​	​
​	​	Maturity
​	​	1‑6 months	​	6‑12 months	​	More than 12
Foreign exchange currency risk							​
Foreign exchange currency forward contracts							​
Net exposure		1,996		1,068		25	​
Average exchange rate MXN/USD		20.90		21.43		24.33	​
Net exposure		1,171		593		—	​
Average exchange rate BRL/USD		5.44		5.97		—	​
Net exposure		497		191		—	​
Average exchange rate COP/USD		3,858		3,952		—	​
Net exposure		280		—		—	​
Average exchange rate ARS/USD		122.56		—		—	​
Net exposure		165		48		—	​
Average exchange rate URY/USD		45.51		46.30		—	​
Net exposure	​	211		120		—	​
Average exchange rate CRC/USD	​	646.33		650.71		—	​
Foreign exchange currency swap contracts							​
Net exposure		—		—		44,507	​
Average exchange rate MXN/USD		—		—		16.41	​
Net exposure		—		—		15,026	​
Average exchange rate BRL/USD		—		—		4.47	​
Net exposure		—		—		885	​
Average exchange rate BRL/MXN		—		—		0.22	​
Net exposure		1,038		321		2,384	​
Average exchange rate COP/USD		3,207.80		3,240.00		3,431.99	​
Net exposure		—		3,514		1,311	​
Average exchange rate CLP/USD		—		696.02		677.00	​
Net exposure		—		—		15,078	​
Average exchange rate EUR/USD		—		—		0.86	​
Interest rate risk							​
Interest rate swaps							​
Net exposure		—		—		6,175	​
Interest rate average BRL		—		—	​	0.09	%
Net exposure		—		—		11,403	​
Interest rate average MXN		—		—		7.17	%
Net exposure		—		131		726	​
Interest rate average CLP		—		6.55	%	5.79	%
Net exposure		—		—		2,367	​
Interest rate average USD		—		—	​	3.57	%
Commodities risk							​
Aluminum		67		35		—	​
Average price (USD/Ton)		1,722		1,777		—	​
Sugar		1,366		653		769	​
Average price (USD cent/Lb)		15.22		14.76		14.74	​
PX+MEG		337		134		—	​
Average price (USD /Ton)		934		866		—	​

​

As of December 31, 2020, the Company’s financial instruments used to hedge its exposure to foreign exchange rates and interest rates are as follows:

​	​	​	​	​	​	​	​	​	​	​
​	​	Maturity
​	​	1‑6 months		​	6‑12 months		​	More than 12
Foreign exchange currency risk		​			​			​		​
Foreign exchange currency forward contracts		​			​			​		​
Net exposure		Ps.	2,887		Ps.	1,892		Ps.	2	​
Average exchange rate MXN/USD		​	23.26		​	23.46		​	20.01	​
Net exposure		​	910		​	601		​	43	​
Average exchange rate BRL/USD		​	5.33		​	5.20		​	4.53	​
Net exposure		​	511		​	212		​	—	​
Average exchange rate COP/USD		​	3,750		​	3,740		​	—	​
Net exposure		​	96		​	-		​	—	​
Average exchange rate ARS/USD		​	92.97		​	-		​	—	​
Net exposure		​	225		​	58		​	—	​
Average exchange rate URY/USD		​	45.92		​	45.69		​	—	​
Foreign exchange currency swap contracts		​			​			​		​
Net exposure		​	—		​	—		​	44,107	​
Average exchange rate MXN/USD		​	—		​	—		​	14.70	​
Net exposure		​	58		​	—		​	9,652	​
Average exchange rate BRL/USD		​	5.15		​	—		​	4.00	​
Net exposure		​	—		​	71		​	981	​
Average exchange rate BRL/MXN		​	—		​	0.26		​	0.26	​
Net exposure		​	404		​	709		​	1,688	​
Average exchange rate COP/USD		​	3,454		​	2,992		​	3,296	​
Net exposure		​	—		​	3,333		​	1,519	​
Average exchange rate CLP/USD		​	—		​	696.02		​	677.00	​
Interest rate risk		​			​			​		​
Interest rate swaps		​			​			​		​
Net exposure		​	—		​	—		​	11,403	​
Interest rate average MXN		​	—		​	—		​	7.17	%
Net exposure		​	—		​	—		​	4,716	​
Interest rate average CLP		​	—		​	—		​	4.95	%
Commodities risk		​			​			​		​
Aluminum		​	325		​	370		​	99	​
Average price (USD/Ton)		​	1,654		​	1,720		​	1,740	​
Sugar		​	869		​	391		​	365	​
Average price (USD cent/Lb)		​	12.13		​	11.87		​	12.17	​
PX+MEG		​	364		​	364		​	—	​
Average price (USD /Ton)		​	730		​	730		​	—	​

Reconciliation Per Category of Equity Components and Analysis of OCI Components, Net of Tax Generated by Cash Flow Hedges

​

​	​	​	​
​		​	​
​	​	Hedging
​		reserve
Balances at beginning of the period		Ps.	1,580
Cash flows hedges		​
Fair value changes:		​	​
Foreign exchange currency risk – Purchase of stock		​	77
Foreign exchange currency risk – Other stock		​	3,511
Interest rate risk		​	584
Commodity price contracts – Purchase of stock	​	​	1,244
The amounts reclassified to profit and loss:	​	​	​
Foreign exchange currency risk – Other stock	​	​	(1,526)
Interest rate risk	​	​	(1)
The amounts included in non-financial costs:		​	​
Foreign exchange currency risk – Purchase of stock	​	​	785
Commodity price contracts – Purchase of stock	​	​	(1,141)
Taxes due to changes in reserves during the period		​	(992)
Balances at the end of the period		Ps.	4,121

Schedule of Reconciliation of Each Component of Equity and Analysis of Other Comprehensive Income

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Foreign

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

exchange

​

Foreign

​

Cross-currency

​

Interest

​

Treasury

​

Commodity

​

Total holders

​

Non-controlling

​

​

​

forward contracts

​

currency option

​

swaps

​

rate swaps

​

Lock contracts

​

price contracts

​

of the parent

​

interest

​

Total

As at January 1, 2020

Ps.

(156)

Ps.

—

​

Ps.

679

​

Ps.

(32)

​

Ps.

34

​

Ps.

11

​

Ps.

534

​

Ps.

(608)

​

Ps.

(74)

Financial instruments – purchases

​

(445)

​

1

​

​

(2,069)

​

​

—

​

​

—

​

​

166

​

​

(2,347)

​

​

(117)

​

​

(2,465)

Change in fair value of financial instruments recognized in OCI

​

(223)

​

—

​

​

5,247

​

​

(639)

​

​

—

​

​

4

​

​

4,389

​

​

1,819

​

​

6,208

Amount reclassified from OCI to profit or loss

​

117

​

(1)

​

​

1,540

​

​

46

​

​

(48)

​

​

(17)

​

​

1,637

​

​

1,142

​

​

2,779

Foreign currency revaluation of the net foreign operations

​

​

—

​

​

—

​

​

(1,694)

​

​

—

​

​

—

​

​

—

​

​

(1,694)

​

​

(2,424)

​

​

(4,118)

Effects of changes in foreign exchange rates

​

​

3

​

​

—

​

​

43

​

​

7

​

​

—

​

​

(4)

​

​

50

​

​

71

​

​

121

Tax effect

​

​

164

​

​

—

​

​

(1,016)

​

​

176

​

​

15

​

​

(51)

​

​

(713)

​

​

(158)

​

​

(871)

As at December 31, 2020

​

Ps.

(541)

​

Ps.

—

​

Ps.

2,729

​

Ps.

(442)

​

Ps.

—

​

Ps.

109

​

Ps.

1,854

​

Ps.

(274)

​

Ps.

1,580

Financial instruments – purchases

​

​

33

​

—

​

​

1,040

​

​

—

​

​

—

​

​

202

​

​

1,274

​

​

541

​

​

1,816

Change in fair value of financial instruments recognized in OCI

​

​

(13)

​

—

​

​

2,036

​

​

584

​

​

—

​

​

390

​

​

2,998

​

​

2,088

​

​

5,086

Amount reclassified from OCI to profit or loss

​

​

568

​

—

​

​

(1,587)

​

​

(0)

​

​

—

​

​

(539)

​

​

(1,558)

​

​

(325)

​

​

(1,883)

Foreign currency revaluation of the net foreign operations

​

​

—

​

​

—

​

​

(654)

​

​

—

​

​

—

​

​

—

​

​

(654)

​

​

(836)

​

​

(1,490)

Effects of changes in foreign exchange rates

​

​

3

​

​

—

​

​

4

​

​

—

​

​

—

​

​

(4)

​

​

3

​

​

2

​

​

5

Tax effect

​

​

(175)

​

​

—

​

​

(165)

​

​

(175)

​

​

—

​

​

(16)

​

​

(531)

​

​

(460)

​

​

(992)

As at December 31, 2021

​

Ps.

(124)

​

Ps.

—

​

Ps.

3,403

​

Ps.

(34)

​

Ps.

—

​

Ps.

141

​

Ps.

3,385

​

Ps.

736

​

Ps.

4,121

Market risk [member]

Statement [Line Items]

Disclosure of Sensitivity Analysis of Market Risks Management

The following disclosures provide a sensitivity analysis of the market risks management considered to be reasonably possible at the end of the reporting period based on a stress test of the exchange rates according to an annualized volatility estimated with historic prices obtained for the underlying asset over a period, in the cases of derivative financial instruments related to foreign currency risk, which the Company is exposed to as it relates to in its existing hedging strategy:

​	​	​	​	​	​
​		Change in		​	​
Foreign Currency Risk	​	Exchange Rate	​	Effect on Equity
2021				​
FEMSA (1)		+11% MXN/USD		Ps.	4
​		‑11% MXN/USD		​	(4)
​		+16% BRL/USD		​	37
​		‑16% BRL/USD		​	(37)
Coca-Cola FEMSA		+11% MXN/USD		​	298
​		‑11% MXN/USD		​	(298)
​		+16% BRL/USD		​	284
​		‑16% BRL/USD		​	(284)
​		+4% UYU/USD		​	7
​		‑4% UYU/USD		​	(7)
​		+11% COP/USD		​	81
​		‑11% COP/USD		​	(81)
​		+1% ARS/USD		​	3
​		‑1% ARS/USD		​	(3)
​	​	+3% CRC/USD		​	10
​	​	‑3% CRC/USD		​	(10)
​	​	​	​	​	​
2020				​
FEMSA (1)		+19% MXN/USD		Ps.	327
​		‑19% MXN/USD		​	(327)
​		+21% BRL/USD		​	240
​		‑21% BRL/USD		​	(240)
Coca-Cola FEMSA		+19% MXN/USD		​	884
​		‑19% MXN/USD		​	(884)
​		+21% BRL/USD		​	357
​		‑21% BRL/USD		​	(357)
​		+9% UYU/USD		​	21
​		‑9% UYU/USD		​	(21)
​		+16% COP/USD		​	142
​		‑16% COP/USD		​	(142)
​		+2% ARS/USD		​	2
​		‑2% ARS/USD		​	(2)
​	​	​	​	​	​
2019				​
FEMSA (1)		+9% MXN/EUR		Ps.	57
​		‑9% MXN/EUR		​	(57)
Coca-Cola FEMSA		+13% BRL/USD		​	202
​		‑13% BRL/USD		​	(202)
​		+9% MXN/USD		​	739
​		‑9% MXN/USD		​	(739)
​		+13% BRL/USD		​	155
​		‑13% BRL/USD		​	(155)
​		+5% UYU/USD		​	23
​		‑5% UYU/USD		​	(23)
​		+10% COP/USD		​	54
​		‑10% COP/USD		​	(54)
​		+25% ARS/USD		​	88
​		‑25% ARS/USD		​	(88)

(1) Does not include Coca-Cola FEMSA.

​	​	​	​	​	​	​	​	​
​		Change in		​	​		​	​
Cross Currency Swaps (1) (2)	​	Exchange Rate	​	Effect on Equity		​	Effect on Profit or Loss
2021				​			​
FEMSA (3)		+13% CLP/USD		Ps.	—		Ps.	552
​		‑13% CLP/USD		​	—		​	(552)
​		+11% MXN/USD		​	—		​	3,404
​		‑11% MXN/USD		​	—		​	(3,404)
​		+11% COP/USD		​	—		​	235
​		‑11% COP/USD		​	—		​	(235)
​		+15% MXN/BRL		​	—		​	123
​		‑15% MXN/BRL		​	—		​	(123)
​	​	+6% EUR/USD		​	—		​	1,049
​	​	‑6% EUR/USD		​	—		​	(1,049)
Coca-Cola FEMSA		+11% MXN/USD		​	1,645		​	—
​		‑11% MXN/USD		​	(1,645)		​	—
​		+16% BRL/USD		​	2,300		​	—
​		‑16% BRL/USD		​	(2,300)		​	—
​	​	​	​	​	​	​	​	​
2020				​			​
FEMSA (3)		+13% CLP/USD		Ps.	—		Ps.	717
​		‑13% CLP/USD		​	—		​	(717)
​		+19% MXN/USD		​	—		​	6,381
​		‑19% MXN/USD		​	—		​	(6,381)
​		+16% COP/USD		​	—		​	426
​		‑16% COP/USD		​	—		​	(426)
​		+19% MXN/BRL		​	—		​	238
​		‑19% MXN/BRL		​	—		​	(238)
Coca-Cola FEMSA		+19% MXN/USD		​	5,507		​	—
​		‑19% MXN/USD		​	(5,507)		​	—
​		+21% BRL/USD		​	2,161		​	—
​		‑21% BRL/USD		​	(2,161)		​	—
​	​	​	​	​	​	​	​	​
2019				​			​
FEMSA (3)		+11% CLP/USD		Ps.	—		Ps.	546
​		‑11% CLP/USD		​	—		​	(546)
​		+9% MXN/USD		​	—		​	1,805
​		‑9% MXN/USD		​	—		​	(1,805)
​		+10% COP/USD		​	—		​	286
​		‑10% COP/USD		​	—		​	(286)
​		+13% MXN/BRL		​	—		​	177
​		‑13% MXN/BRL		​	—		​	(177)
Coca-Cola FEMSA		+9% MXN/USD		​	2,315		​	—
​		‑9% MXN/USD		​	(2,315)		​	—
​		+13% BRL/USD		​	645		​	—
​		‑13% BRL/USD		​	(645)		​	—

(1) The sensitivity analysis effects include all subsidiaries of the Company.

(2) Includes the sensitivity analysis effects of all derivative financial instruments related to foreign exchange risk.

(3) Does not include Coca-Cola FEMSA.

​	​	​	​	​	​
​		Change in		​	​
Net Cash in Foreign Currency (1)	​	Exchange Rate	​	Effect on Profit or Loss
2021				​
FEMSA (2)		+10% EUR/ +11% USD		Ps.	4,931
​		‑10% EUR/ -11% USD		​	(4,931)
Coca-Cola FEMSA		+11% USD		​	3,200
​		‑11% USD		​	(3,200)
​	​	​	​	​	​
2020				​
FEMSA (2)		+18% EUR/ +19 % USD		Ps.	8,827
​		‑18% EUR/ -19 % USD		​	(8,827)
Coca-Cola FEMSA		+18% USD		​	5,755
​		‑18% USD		​	(5,755)
​	​	​	​	​	​
2019				​
FEMSA (2)		+9% EUR/ +9 % USD		Ps.	3,833
​		‑9% EUR/ -9 % USD		​	(3,833)
Coca-Cola FEMSA		+8% USD		​	940
​		‑8% USD		​	(940)

(1) The sensitivity analysis effects include all subsidiaries of the Company.

(2) Does not include Coca-Cola FEMSA.

​

​	​	​	​	​	​
​		Change in		​	​
Commodity Price Contracts (1)	​	U.S.$ Rate	​	Effect on Equity
2021				​
Coca-Cola FEMSA		Sugar -28	%	Ps.	(714)
​		Aluminum -24	%	Ps.	(39)
​	​	​	​	​	​
2020				​
Coca-Cola FEMSA		Sugar - 32	%	Ps.	(515)
​		Aluminum - 16	%	Ps.	(289)
​	​	​	​	​	​
2019				​
Coca-Cola FEMSA		Sugar - 24	%	Ps.	(255)
​		Aluminum - 15	%	Ps.	(1,164)

(1) Effects on commodity price contracts are only in Coca-Cola FEMSA.

X

- Definition

The disclosure of cross currency swap contract.

+ References

No definition available.

+ Details

Name:	fmx_DisclosureOfCrossCurrencySwapContractExplanatory
Namespace Prefix:	fmx_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Disclosure of fair value of commodity price contracts.

+ References

No definition available.

+ Details

Name:	fmx_DisclosureOfFairValueOfCommodityPriceContractsExplanatory
Namespace Prefix:	fmx_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The disclosure of financial instruments to hedge exposure to foreign exchange rates and interest rate.

+ References

No definition available.

+ Details

Name:	fmx_DisclosureOfFinancialInstrumentsToHedgeExposureToForeignExchangeRatesAndInterestRateExplanatory
Namespace Prefix:	fmx_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Disclosure of maturity analysis for non-derivative and derivative financial liabilities.

+ References

No definition available.

+ Details

Name:	fmx_DisclosureOfMaturityAnalysisForNonderivativeAndDerivativeFinancialLiabilitiesExplanatory
Namespace Prefix:	fmx_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Disclosure of net effects of derivative financial instruments that did not met hedging criteria.

+ References

No definition available.

+ Details

Name:	fmx_DisclosureOfNetEffectsOfDerivativeFinancialInstrumentsThatDidNotMetHedgingCriteriaExplanatory
Namespace Prefix:	fmx_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Disclosure of net effects of expired contracts that met hedging criteria.

+ References

No definition available.

+ Details

Name:	fmx_DisclosureOfNetEffectsOfExpiredContractsThatMetHedgingCriteriaExplanatory
Namespace Prefix:	fmx_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Disclosure of outstanding forward agreements to purchase foreign currency.

+ References

No definition available.

+ Details

Name:	fmx_DisclosureOfOutstandingForwardAgreementsToPurchaseForeignCurrencyExplanatory
Namespace Prefix:	fmx_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Disclosure of outstanding interest rate swap agreements.

+ References

No definition available.

+ Details

Name:	fmx_DisclosureOfOutstandingInterestRateSwapAgreementsExplanatory
Namespace Prefix:	fmx_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Disclosure of reconciliation by risk category of components of equity and analysis of other comprehensive income items resulting from hedge accounting.

+ References

No definition available.

+ Details

Name:	fmx_DisclosureOfReconciliationByRiskCategoryOfComponentsOfEquityAndAnalysisOfOtherComprehensiveIncomeItemsResultingFromHedgeAccountingExplanatory
Namespace Prefix:	fmx_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

No definition available.

+ Details

Name:	fmx_IfrsStatementLineItems
Namespace Prefix:	fmx_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The disclosure of detailed information about hedging instruments. [Refer: Hedging instruments [member]]

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 7
-IssueDate 2021-01-01
-Paragraph 24A
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2021-en-r&anchor=para_24A&doctype=Standard
-URIDate 2021-03-24

+ Details

Name:	ifrs-full_DisclosureOfDetailedInformationAboutHedgingInstrumentsExplanatory
Namespace Prefix:	ifrs-full_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The disclosure of the fair value of financial instruments. [Refer: Financial instruments, class [member]; At fair value [member]]

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Name IAS
-Number 1
-IssueDate 2021-01-01
-Paragraph 10
-Subparagraph e
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2021-en-r&anchor=para_10_e&doctype=Standard
-URIDate 2021-03-24

+ Details

Name:	ifrs-full_DisclosureOfFairValueOfFinancialInstrumentsExplanatory
Namespace Prefix:	ifrs-full_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The disclosure of financial liabilities classified as held for trading. [Refer: Financial liabilities]

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Name IAS
-Number 1
-IssueDate 2021-01-01
-Paragraph 10
-Subparagraph e
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2021-en-r&anchor=para_10_e&doctype=Standard
-URIDate 2021-03-24

+ Details

Name:	ifrs-full_DisclosureOfFinancialLiabilitiesHeldForTradingExplanatory
Namespace Prefix:	ifrs-full_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The disclosure of information that enables users of financial statements to evaluate the nature and extent of risks arising from financial instruments to which the entity is exposed. [Refer: Financial instruments, class [member]]

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 7
-IssueDate 2021-01-01
-Paragraph 31
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2021-en-r&anchor=para_31&doctype=Standard
-URIDate 2021-03-24

+ Details

Name:	ifrs-full_DisclosureOfNatureAndExtentOfRisksArisingFromFinancialInstrumentsExplanatory
Namespace Prefix:	ifrs-full_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The explanation of the risk management strategy related to hedge accounting.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 7
-IssueDate 2021-01-01
-Paragraph 22A
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2021-en-r&anchor=para_22A&doctype=Standard
-URIDate 2021-03-24

+ Details

Name:	ifrs-full_ExplanationOfRiskManagementStrategyRelatedToHedgeAccountingExplanatory
Namespace Prefix:	ifrs-full_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Details

Name:	ifrs-full_TypesOfRisksAxis=ifrs-full_MarketRiskMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type: