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Taxes (Tables) | 12 Months Ended
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Dec. 31, 2023
Taxes [Abstract] |
Schedule of income tax rates | The income tax rates in the countries where the Company operates as of December 31, 2023, 2022 and 2021 were as follows:
|  | 2023 |  | 2022 |  | 2021
Mexico |  | 30.0 | % |  | 30.0 | % |  | 30.0 | %
Guatemala |  | 25.0 | % |  | 25.0 | % |  | 25.0 | %
Costa Rica |  | 30.0 | % |  | 30.0 | % |  | 30.0 | %
Panama |  | 25.0 | % |  | 25.0 | % |  | 25.0 | %
Nicaragua |  | 30.0 | % |  | 30.0 | % |  | 30.0 | %
Colombia |  | 35.0 | % |  | 35.0 | % |  | 31.0 | %
Argentina |  | 35.0 | % |  | 35.0 | % |  | 30.0 | %
Brazil |  | 34.0 | % |  | 34.0 | % |  | 34.0 | %
Chile |  | 27.0 | % |  | 27.0 | % |  | 27.0 | %
Peru |  | 29.5 | % |  | 29.5 | % |  | 29.5 | %
Ecuador |  | 25.0 | % |  | 25.0 | % |  | 25.0 | %
Uruguay |  | 25.0 | % |  | 25.0 | % |  | 25.0 | %
United States |  | 21.0 | % |  | 21.0 | % |  | 21.0 | %
Switzerland |  | 18.6 | % |  | 18.6 | % |  | 18.6 | %
Summary of Major Components of Income Tax Expense | The major components of income tax expense for the years ended December 31, 2023, 2022 and 2021 are:
|  | 2023 |  | 2022 (Revised) |  | 2021 (Revised)
Current tax expense |  | Ps. | 30,413 |  |  | Ps. | 17,007 |  |  | Ps. | 14,244 |
Deferred tax expense (benefit): |  |  |  |  |  |  |  |  |
Origination and reversal of temporary differences |  |  | 247 |  |  |  | (1,164) |  |  |  | 2,390 |
Utilization (benefit) of tax losses, net |  |  | (3,198) |  |  |  | (389) |  |  |  | (1,498) |
Change in the statutory rate |  |  | (172) |  |  |  | (102) |  |  |  | 4 |
Total deferred tax expense (benefit) |  |  | (3,123) |  |  |  | (1,655) |  |  |  | 896 |
Total income taxes |  | Ps. | 27,290 |  |  | Ps. | 15,352 |  |  | Ps. | 15,140 |
Total income taxes attributable to continued operation |  | Ps. | 12,971 |  |  | Ps. | 13,275 |  |  | Ps. | 13,566 |
Total income taxes attributable to discontinued operation |  |  | 14,319 |  |  |  | 2,077 |  |  |  | 1,574 |
|  | Ps. | 27,290 |  |  | Ps. | 15,352 |  |  | Ps. | 15,140 |
Income Tax Expense/Benefit Recognized in Consolidated Statement of Other Comprehensive Income |
Income tax related to items charged or |  |  |  |  |  |  |  |  |
recognized directly in OCI during the period: |  | 2023 |  | 2022 |  | 2021
Unrealized gain (loss) on cash flow hedges |  | Ps. | (355) |  |  | Ps. | (1,158) |  |  | Ps. | 992 |
Exchange differences on translation of foreign operations |  |  | (1,951) |  |  |  | (3,742) |  |  |  | (1,730) |
Remeasurements of the net defined benefit liability |  |  | 11 |  |  |  | 383 |  |  |  | 127 |
Share of the other comprehensive income of equity method accounted investees (1) |  |  | 3,108 |  |  |  | 1,129 |  |  |  | 1,506 |
Total income tax expense (benefit) recognized in OCI |  | Ps. | 813 |  |  | Ps. | (3,388) |  |  | Ps. | 895 |
(1)Deferred income taxes related to currency translation adjustment, mark to market of derivative financial instruments and employee benefits for equity method accounted investees which as of December 31, 2023 amounted to Ps. 2,953, Ps. (239), and Ps. 394, respectively.
Reconciliation Between Statutory and Actual Tax Rate | A reconciliation between tax expense and income before income taxes and share of the profit or loss of associates and joint ventures accounted for using the equity method multiplied by the Mexican domestic tax rate for the years ended December 31, 2023, 2022 and 2021 is as follows:
|  | 2023 | 2022 (Revised) | 2021 (Revised)
Mexican statutory income tax rate |  | 30.0 | % | 30.0 | % | 30.0 | %
Difference between book and tax inflationary values and translation effects |  | (1.7) |  | % | (5.4) |  | % | (4.8) |  | %
Annual inflation tax adjustment |  | 0.2 | % | 7.0 | % | 7.7 | %
Income tax at a rate other than Mexican statutory rates |  | 0.9 | % | 2.8 | % | 0.2 | %
Non-deductible expenses |  | 2.1 | % | 3.8 | % | 2.1 | %
Taxable (non-taxable) income |  | (3.2) | % | 1.4 | % | 2.3 | %
Others |  | 0.1 |  | % | 0.1 |  | % | 0.1 |  | %
Adjustments for previous tax years |  | — | % | 0.4 | % | — | %
Income Tax credits (1) |  | — |  | % | — |  | % | (1.5) |  | %
Tax loss (recognition) write off (2) (3) |  | (3.3) |  | % | (5.5) |  | % | (1.4) |  | %
Sale of investment of Heineken |  | 1.2 | % | — |  | % | — |  | %
Consolidated Effective income tax rate |  | 26.3 | % | 34.6 | % | 34.7 | %
Effective income tax rate from continued operations |  | 22.7 | % | 33.0 | % | 34.3 | %
Effective income tax rate from discontinued operations |  | 3.6 | % | 1.6 | % | 0.4 | %
(1)Favorable position of Brazilian Courts related to a no taxation on financial effects of recovered tax credits from previously won judicial disputes, which allowed a recognition of a deferred tax credit in Brazil in 2021. (2)During 2022, Coca-Cola FEMSA recognized an amount of Ps.(2,194) as favorable effects on the deferred tax assets of its territories taking into account our expectation that those deferred tax assets will be recovered in the future. (3)The majority related to tax loss generated in 2023 from a reorganization of the business at Health Division in Chile.
Deferred Tax Assets and Liabilities | Deferred Income Tax Related to:
|  | Consolidated Statement |  | Consolidated
|  | of Financial Position as of |  | Income Statements
|  | December 31, 2023 |  | December 31, 2022 |  | 2023 |  | 2022 (Revised) |  | 2021 (Revised)
Expected credit losses |  | Ps. | (356) |  |  | Ps. | (389) |  |  | Ps. | (6) |  |  | Ps. | 21 |  |  | Ps. | (3) |
Inventories |  |  | (61) |  |  |  | (107) |  |  |  | (1) |  |  |  | 99 |  |  |  | (17) |
Other current assets |  |  | 317 |  |  |  | 99 |  |  |  | 92 |  |  |  | (78) |  |  |  | 47 |
Property, plant and equipment, net |  |  | (7,075) |  |  |  | (7,288) |  |  |  | 275 |  |  |  | (1,345) |  |  |  | (1,081) |
Right of use Assets |  |  | (1,166) |  |  |  | (1,433) |  |  |  | 194 |  |  |  | (151) |  |  |  | (482) |
Investments in equity method accounted investees |  |  | (51) |  |  |  | (7,330) |  |  |  | 74 |  |  |  | (58) |  |  |  | (22) |
Other assets |  |  | 315 |  |  |  | (283) |  |  |  | (884) |  |  |  | 36 |  |  |  | (2) |
Finite useful lived intangible assets |  |  | 131 |  |  |  | 3 |  |  |  | 145 |  |  |  | (139) |  |  |  | 498 |
Indefinite lived intangible assets |  |  | 1,499 |  |  |  | 3,693 |  |  |  | (2,161) |  |  |  | 402 |  |  |  | 36 |
Post-employment and other long-term employee benefits |  |  | (821) |  |  |  | (736) |  |  |  | (79) |  |  |  | (71) |  |  |  | (258) |
Derivative financial instruments |  |  | (240) |  |  |  | 420 |  |  |  | (577) |  |  |  | (111) |  |  |  | 738 |
Temporary non-deductible provisions |  |  | (4,602) |  |  |  | (3,971) |  |  |  | (1,006) |  |  |  | 43 |  |  |  | 1,280 |
Employee profit sharing payable |  |  | (1,003) |  |  |  | (871) |  |  |  | (56) |  |  |  | (304) |  |  |  | (393) |
Tax loss carryforwards |  |  | (13,137) |  |  |  | (10,177) |  |  |  | (3,198) |  |  |  | (389) |  |  |  | (1,498) |
Tax credits to recover (1) |  |  | (797) |  |  |  | (1,065) |  |  |  | (73) |  |  |  | 255 |  |  |  | 1,200 |
Cumulative other comprehensive income |  |  | (394) |  |  |  | (218) |  |  |  | — |  |  |  | (417) |  |  |  | — |
Exchange differences on translation of foreign operations in OCI |  |  | 2,000 |  |  |  | 4,603 |  |  |  | — |  |  |  | — |  |  |  | — |
Other liabilities |  |  | (1,785) |  |  |  | (752) |  |  |  | (45) |  |  |  | 322 |  |  |  | 1 |
Lease liabilities |  |  | (446) |  |  |  | (382) |  |  |  | (255) |  |  |  | (272) |  |  |  | 53 |
Liabilities of amortization of goodwill of business acquisition |  |  | 7,445 |  |  |  | 6,117 |  |  |  | — |  |  |  | — |  |  |  | 86 |
Deferred income tax |  |  |  |  |  |  |  | Ps. | (7,561) |  |  | Ps. | (2,157) |  |  | Ps. | 183 |
Deferred tax income net recorded in share of the profit of equity method accounted investees |  |  |  |  |  |  |  |  | 1,601 |  |  |  | 567 |  |  |  | 443 |
Deferred income tax, net |  |  |  |  |  |  |  | Ps. | (5,960) |  |  | Ps. | (1,590) |  |  | Ps. | 626 |
Deferred tax discontinued operations |  |  |  |  |  |  |  | Ps. | 2,838 |  |  | Ps. | (65) |  |  | Ps. | 270 |
Deferred income taxes, net |  | Ps. | (20,227) |  |  | Ps. | (20,067) |  |  |  |  |  |  |  |  |  |
Deferred tax asset before reclassification to assets held for sale |  |  | (29,639) |  |  |  |  |  |  |  |  |  |  |  |  |
Deferred tax asset from assets held for sale |  |  | 2,041 |  |  |  |  |  |  |  |  |  |  |  |  |
Deferred tax assets |  | Ps. | (27,598) |  |  | Ps. | (26,890) |  |  |  |  |  |  |  |  |  |
Deferred tax liability before reclassification to assets held for sale |  |  | 7,373 |  |  |  |  |  |  |  |  |  |  |  |  |
Deferred tax liability from assets held from sale |  |  | (2) |  |  |  |  |  |  |  |  |  |  |  |  |
Deferred tax liabilities |  | Ps. | 7,371 |  |  | Ps. | 6,823 |  |  |  |  |  |  |  |  |  |
(1)Corresponds to income tax credits arising from dividends received from foreign subsidiaries to be recovered within the next ten years according to the Mexican Income Tax law.
Deferred Tax related to Other Comprehensive Income (AOCI) |
Income tax related to items charged or |  |  |  |  |  |
recognized directly in AOCI as of the year: |  | 2023 |  | 2022
Unrealized gain on derivative financial instruments |  | Ps. | 324 |  |  | Ps. | 688 |
Remeasurements of the net defined benefit liability |  |  | (221) |  |  |  | (251) |
Exchange differences on translation of foreign operations |  |  | 1,828 |  |  |  | 3,778 |
Gain on hedge of net investments in foreign operations |  |  | 1,401 |  |  |  | 2,216 |
Share of other comprehensive income of associated companies and joint ventures |  |  | — |  |  |  | (3,108) |
Total deferred tax loss related to AOCI |  | Ps. | 3,332 |  |  | Ps. | 3,323 |
Schedule of Changes in Net Deferred Income Tax Asset | The changes in the balance of the net deferred income tax asset are as follows:
|  | 2023 |  | 2022 |  | 2021
Balance at the beginning of the period |  | Ps. | (20,067) |  |  | Ps. | (14,691) |  |  | Ps. | (16,010) |
Deferred tax provision for the period (Note 25.8) |  |  | (5,960) |  |  |  | (1,115) |  |  |  | 622 |
Deferred tax income net recorded in share of the profit of equity method accounted investees |  |  | 2 |  |  |  | (694) |  |  |  | 277 |
Acquisition of subsidiaries |  |  | 1,871 |  |  |  | — |  |  |  | — |
Effects in equity: |  |  |  |  |  |  |  |  |
Unrealized (gain) on cash flow hedges |  |  | (594) |  |  |  | (1,281) |  |  |  | 1,006 |
Exchange differences on translation of foreign operations |  |  | 1,002 |  |  |  | (2,604) |  |  |  | (491) |
Remeasurements of the net defined benefit liability |  |  | 405 |  |  |  | 497 |  |  |  | 380 |
Retained earnings of equity method accounted investees |  |  | 954 |  |  |  | (334) |  |  |  | 32 |
Restatement effect of the period and beginning balances associated with hyperinflationary economies |  |  | 121 |  |  |  | 155 |  |  |  | (507) |
Related discontinued operations |  |  | 2,039 |  |  |  | — |  |  |  | — |
Balance at the end of the period |  | Ps. | (20,227) |  |  | Ps. | (20,067) |  |  | Ps. | (14,691) |
Schedule of Tax Loss Carryforwards | The tax losses carryforwards for which a deferred tax asset has been recorded and their corresponding years of expiration are as follows:
|  | Tax Loss
Year |  | Carryforwards
2024 |  | Ps. | 963
2025 |  |  | 790
2026 |  |  | 635
2027 |  |  | 659
2028 |  |  | 484
2029 |  |  | 2,743
2030 |  |  | 3,323
2031 |  |  | 403
2032 |  |  | 3,283
2033 and thereafter |  |  | 16,567
No expiration (Brazil and Colombia) |  |  | 12,963
|  | Ps. | 42,813
Summary of Changes in the Balance of Tax Loss Carryforwards | The changes in the balance of tax loss carryforwards are as follows:
|  | 2023 |  | 2022
Balance at beginning of the period |  | Ps. | 31,323 |  |  | Ps. | 30,041 |
Derecognized |  |  | (932) |  |  |  | (13,348) |
Increase (1) |  |  | 21,018 |  |  |  | 14,639 |
Usage of tax losses |  |  | (7,281) |  |  |  | (460) |
Translation effect of beginning balances |  |  | (1,315) |  |  |  | 451 |
Balance at end of the period |  | Ps. | 42,813 |  |  | Ps. | 31,323 |
(1)The recognition of tax loss carryforwards from previous years is shown under the item of increases, together with the tax loss carryforwards generated in the same years

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