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Non-Controlling Interest in Consolidated Subsidiaries | 12 Months Ended
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Dec. 31, 2023
Non-Controlling Interest In Consolidated Subsidiaries [Abstract] |
Non-Controlling Interest in Consolidated Subsidiaries | Non-Controlling Interest in Consolidated Subsidiaries An analysis of FEMSA’s non-controlling interest in its consolidated subsidiaries as of December 31, 2023 and 2022 is as follows:
|  | December 31, 2023 |  | December 31, 2022
Coca-Cola FEMSA |  | Ps. | 73,151 |  | Ps. | 72,128
Proximity Americas Division |  |  | 1,046 |  |  | 1,004
Envoy Solutions |  |  | — |  |  | 1,777
Other |  |  | 312 |  |  | 288
|  | Ps. | 74,509 |  | Ps. | 75,197
The changes in the FEMSA’s non-controlling interest were as follows:
|  | 2023 |  | 2022 |  | 2021
Balance at beginning of the period |  | Ps. | 75,197 |  |  | Ps. | 72,516 |  |  | Ps. | 69,444 |
Net income of non-controlling interest |  |  | 10,988 |  |  |  | 10,834 |  |  |  | 9,183 |
Other comprehensive loss: |  |  | (3,465) |  |  |  | (2,198) |  |  |  | (368) |
Exchange differences on translation of foreign operation |  |  | (3,325) |  |  |  | (1,558) |  |  |  | (1,342) |
Remeasurements of the net defined benefits liability |  |  | 87 |  |  |  | 173 |  |  |  | (36) |
Valuation of the effective portion of derivative financial instruments |  |  | (227) |  |  |  | (813) |  |  |  | 1,010 |
Dividends |  |  | (6,551) |  |  |  | (6,176) |  |  |  | (5,729) |
Share based payment |  |  | 22 |  |  |  | (57) |  |  |  | (14) |
Other acquisitions and remeasurements |  |  | — |  |  |  | 5 |  |  |  | — |
Repurchase of non-controlling interests |  |  | — |  |  |  | (79) |  |  |  | — |
Contribution from non-controlling interest |  |  | — |  |  |  | 352 |  |  |  | — |
Disposals of businesses (Envoy and others) |  |  | (1,682) |  |  |  | — |  |  |  | — |
Balance at end of the period |  | Ps. | 74,509 |  |  | Ps. | 75,197 |  |  | Ps. | 72,516 |
Non-controlling interest’s accumulated other comprehensive loss is comprised as follows:
|  | December 31, 2023 |  | December 31, 2022
Exchange differences on translation foreign operation |  | Ps. | (12,882) |  |  | Ps. | (9,557) |
Remeasurements of the net defined benefits liability |  |  | (335) |  |  |  | (422) |
Valuation of the effective portion of derivative financial instruments |  |  | (307) |  |  |  | (80) |
Accumulated other comprehensive loss |  | Ps. | (13,524) |  |  | Ps. | (10,059) |
Coca-Cola FEMSA shareholders, especially the Coca-Cola Company which holds Series D shares, have some protective rights about investing in or disposing of significant businesses. However, these rights do not limit the continued normal operations of Coca-Cola FEMSA. Summarized financial information in respect of Coca-Cola FEMSA is set out below:
|  | December 31, 2023 |  | December 31, 2022
Total current assets |  | Ps. | 67,738 |  |  | Ps. | 79,212 |
Total non-current assets |  |  | 205,782 |  |  |  | 198,783 |
Total current liabilities |  |  | 54,916 |  |  |  | 57,960 |
Total non-current liabilities |  |  | 84,899 |  |  |  | 88,159 |
Total revenue |  | Ps. | 245,088 |  |  | Ps. | 226,740 |
Consolidated net income |  |  | 20,226 |  |  |  | 19,626 |
Consolidated comprehensive income for the year, net of tax |  | Ps. | 14,104 |  |  | Ps. | 15,767 |
Net cash flows generated from operating activities |  |  | 42,289 |  |  |  | 35,491 |
Net cash flows used in investing activities |  |  | (20,070) |  |  |  | (19,597) |
Net cash flows used in financing activities |  |  | (26,352) |  |  |  | (20,847) |
22.1 Options from past business acquisitions Open Market - The former controlling shareholders of Open Market retain a put option for their remaining 20% non-controlling interest that can be exercised (i) at any time after the acquisition date (December 27, 2016) upon the occurrence of certain events and (ii) annually from January through April, after the third anniversary of the acquisition date (i.e. 2019). In any event, the Company through one of its subsidiaries can call the remaining 20% non-controlling interest annually from January through April, after the fifth anniversary of the acquisition date (i.e. 2021). Both options would be exercisable at the then fair value of the interest and shall remain indefinitely.

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- Definition Disclosure of non controlling interest in consolidated subsidiaries. + References No definition available. + Details
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- Definition The disclosure of non-controlling interests. [Refer: Non-controlling interests] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 10 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_10_e&doctype=Standard -URIDate 2023-03-23 + Details
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