Information by Segment (Tables)

12 Months Ended

Dec. 31, 2021

Summary of information by operating segment

FEMSA

Comercio –

Coca-Cola

Proximity

Health

FEMSA Comercio –

Heineken

Logistics and

Consolidation

2021

FEMSA

Division

Fuel Division

Investment

Distribution

Other ⁽¹⁾

Adjustments

Consolidated

Total revenues

Ps.

194,804

Ps.

198,586

Ps.

73,027

Ps.

39,922

Ps.

—

Ps.

48,412

Ps.

21,754

Ps.

(20,244)

Ps.

556,261

Intercompany revenue

5,428

520

—

5,809

8,430

(20,244)

—

Gross profit

88,598

84,196

21,736

5,269

—

10,569

8,479

(5,134)

213,713

Administrative expenses

—

27,219

Selling expenses

—

134,079

Other income

—

5,887

Other expenses

—

3,727

Interest expense

6,192

6,076

1,465

1,119

—

430

5,269

(3,613)

16,938

Interest income

932

440

154

3,446

(3,613)

1,464

Other net finance loss ⁽³⁾

—

2,090

Income before income taxes and share of the profit of equity method accounted investees

22,852

12,580

1,068

455

1,854

2,477

(154)

41,191

Income taxes

6,609

996

1,219

103

982

4,354

—

14,278

Share of the profit of equity method accounted investees, net of tax

(120)

—

10,775

—

10,765

Consolidated net income

—

37,678

Depreciation and amortization ⁽²⁾

9,834

10,869

3,355

972

—

2,684

402

(129)

27,987

Non-cash items other than depreciation and amortization

1,613

448

111

—

145

110

—

2,441

Investments in equity method accounted investees

7,494

2,899

—

96,349

—

538

—

107,299

Total assets

271,567

129,821

57,463

19,878

101,706

64,168

166,984

(74,087)

737,500

Total liabilities

143,995

110,765

44,037

16,503

4,383

28,245

128,568

(74,113)

402,383

Investments in fixed assets ⁽⁴⁾

13,865

7,179

2,049

243

—

557

474

(312)

24,055

(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.


			FEMSA		FEMSA		FEMSA
			Comercio –		Comercio –		Comercio –
	Coca-Cola		Proximity		Health		Fuel		Heineken		Logistics and				Consolidation
2020 (Revised)	FEMSA		Division		Division		Division		Investment		Distribution		Other ⁽¹⁾		Adjustments		Consolidated
Total revenues	Ps.	183,615	Ps.	181,277	Ps.	65,172	Ps.	34,322	Ps.	—	Ps.	31,568	Ps.	17,311	Ps.	(20,299)	Ps.	492,966
Intercompany revenue		5,016		451		—		9		—		5,508		9,315		(20,299)		—
Gross profit		82,811		74,296		19,575		4,829		—		5,191		8,103		(5,152)		189,653
Administrative expenses		—		—		—		—		—		—		—		—		22,988
Selling expenses		—		—		—		—		—		—		—		—		123,405
Other income		—		—		—		—		—		—		—		—		3,343
Other expenses		—		—		—		—		—		—		—		—		12,381
Interest expense		7,894		5,932		1,540		1,099		—		397		4,376		(3,722)		17,516
Interest income		1,048		388		162		155		61		56		3,952		(3,722)		2,100
Other net finance income ⁽³⁾		—		—		—		—		—		—		—		—		505
Income before income taxes and share of the profit of equity method accounted investees		16,077		6,409		753		330		48		776		(5,567)		485		19,311
Income taxes		5,428		(280)		243		126		12		446		8,844		—		14,819
Share of the profit of equity method accounted investees, net of tax		(281)		(18)		—		—		(434)		—		(3)		—		(736)
Consolidated net income		—		—		—		—		—		—		—		—		3,756
Depreciation and amortization ⁽²⁾		10,608		10,574		3,543		865		—		2,062		500		(103)		28,049
Non-cash items other than depreciation and amortization		1,494		739		28		21		—		(25)		164		—		2,421
Investments in equity method accounted investees		7,623		3,102		—		19		87,291		—		235		—		98,270
Total assets		263,066		121,200		60,107		19,572		92,444		52,057		135,456		(59,054)		684,848
Total liabilities		140,609		104,141		46,038		16,466		4,011		15,163		110,054		(58,821)		377,661
Investments in fixed assets ⁽⁴⁾		10,354		6,907		1,694		549		—		481		1,052		(144)		20,893

(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.


			FEMSA		FEMSA		FEMSA
			Comercio –		Comercio –		Comercio –
	Coca-Cola		Proximity		Health		Fuel		Heineken		Logistics and				Consolidation
2019 (Revised)	FEMSA		Division		Division		Division		Investment		Distribution		Other ⁽¹⁾		Adjustments		Consolidated
Total revenues	Ps.	194,471	Ps.	184,810	Ps.	58,922	Ps.	48,790	Ps.	—	Ps.	19,834	Ps.	21,016	Ps.	(21,132)	Ps.	506,711
Intercompany revenue		5,688		325		—		11		—		5,953		9,155		(21,132)		—
Gross profit		87,507		75,099		17,645		5,713		—		1,013		9,600		(5,096)		191,481
Administrative expenses		—		—		—		—		—		—		—		—		19,930
Selling expenses		—		—		—		—		—		—		—		—		121,871
Other income		—		—		—		—		—		—		—		—		1,013
Other expenses		—		—		—		—		—		—		—		—		4,905
Interest expense		6,904		5,733		1,226		1,175		1		448		1,855		(3,209)		14,133
Interest income		1,230		338		10		267		23		17		4,393		(3,110)		3,168
Other net finance expenses ⁽³⁾		—		—		—		—		—		—		—		—		(2,527)
Income before income taxes and share of the profit of equity method accounted investees		18,409		11,458		1,487		1,134		10		8		(569)		359		32,296
Income taxes		5,648		923		556		348		(491)		(154)		3,646		—		10,476
Share of the profit of equity method accounted investees, net of tax		(131)		9		—		—		6,428		—		(78)		—		6,228
Consolidated net income		—		—		—		—		—		—		—		—		28,048
Depreciation and amortization ⁽²⁾		10,642		9,604		3,112		855		—		1,147		561		(112)		25,810
Non-cash items other than depreciation and amortization		1,083		529		23		105		—		321		434		—		2,495
Investments in equity method accounted investees		9,751		3,719		—		—		83,789		4		207		—		97,470
Total assets		257,841		117,229		54,366		22,470		86,639		26,900		127,077		(54,981)		637,541
Total liabilities		128,154		98,468		53,468		20,438		3,151		12,160		50,968		(55,017)		311,790
Investments in fixed assets ⁽⁴⁾		11,465		10,374		1,529		706		—		464		1,221		(180)		25,579

(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.

Summary of geographic disclosure for non-current assets

Geographic disclosure for the Company’s non-current assets is as follow:


	2021		2020
Mexico and Central America ⁽¹⁾	Ps.	234,719	Ps.	234,679
United States ⁽²⁾		53,447		37,105
South America ⁽³⁾		117,278		124,470
Europe		101,338		87,326
Consolidated	Ps.	506,782	Ps.	483,580

(1)	Domestic (Mexico only) non-current assets were Ps. 220,843 and Ps. 226,497, as of December 31, 2021, and December 31, 2020, respectively.

(2)

On May 15, 2020, the Company completed the acquisition of the specialized distribution business of cleaning products and consumables in the United States, through the controlling interest of NW Synergy, which includes WAXIE Sanitary Supply (“WAXIE”) and North American Corporation (“North American”). Additionally, on December 31, 2020, the Company completed the acquisition of Southeastern Paper Group (“SEPG”). In 2021 the Company acquired other companies increasing its specialized distribution footprint in the United States. See Note 4.1.

(3)

South America non-current assets includes Brazil, Argentina, Colombia, Chile, Uruguay and Ecuador. Brazilian non-current assets were Ps. 65,512 and Ps. 66,050, as of December 31, 2021 and December 31, 2020, respectively. Colombia’s non-current assets were Ps. 14,433 and Ps. 15,653, as of December 31, 2021 and December 31, 2020, respectively. Argentina’s non-current assets were Ps. 4,486 and Ps. 3,905, as of December 31, 2021 and December 31, 2020, respectively. Chile’s non-current assets were Ps. 29,621 and Ps. 30,953, as of December 31, 2021 and December 31, 2020, respectively. Uruguay’s non-current assets were Ps. 2,473 and Ps. 4,537, as of December 31, 2021 and December 31, 2020, respectively. Ecuador’s non-current assets were Ps. 3,590 and Ps. 3,372, as of December 31, 2021 and December 31, 2020, respectively.