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Equity Method Accounted Investees (Tables) | 12 Months Ended
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Dec. 31, 2023
Investments in subsidiaries, joint ventures and associates reported in separate financial statements [abstract] |
Summary of Equity Accounted Investees | As of December 31, 2023 and 2022, Company’s equity method accounted investees are as follows:
|  |  |  |  |  | Ownership Percentage |  |  | Carrying Value
Investee |  | Principal Activity |  | Place of Incorporation |  | December 31, 2023 |  | December 31, 2022 |  |  | December 31, 2023 |  |  | December 31, 2022
Heineken (1) (2) |  | Beverages |  | The Netherlands |  | — | % | 14.8 | % | Ps. | — |  | Ps. | 92,282
IFS TopCo LLC (4) |  | Distribution |  | United States |  | 37.1 | % | — | % |  | 15,032 |  |  | —
Coca-Cola FEMSA: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Joint ventures: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Dispensadoras de Café, S.A.P.I. de C.V. |  | Services |  | Mexico |  | 50.0 | % | 50.0 | % |  | 223 |  |  | 189
Fountain Agua Mineral, L.T.D.A. |  | Beverages |  | Brazil |  | 50.0 | % | 50.0 | % |  | 808 |  |  | 752
Planta Nueva Ecología De Tabasco, S.A. de C.V. |  | Recycling |  | Mexico |  | 50.0 | % | 50.0 | % |  | 1,139 |  |  | 578
Associates: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Promotora Industrial Azucarera, S.A. de C.V. (“PIASA”) |  | Sugar production |  | Mexico |  | 36.4 | % | 36.4 | % |  | 3,454 |  |  | 3,632
Industria Envasadora de Querétaro, S.A. de C.V. (“IEQSA”) |  | Canned bottling |  | Mexico |  | 26.5 | % | 26.5 | % |  | 215 |  |  | 157
Industria Mexicana de Reciclaje, S.A. de C.V. (“IMER”) |  | Recycling |  | Mexico |  | 35.0 | % | 35.0 | % |  | 99 |  |  | 100
Jugos del Valle, S.A.P.I. de C.V. |  | Beverages |  | Mexico |  | 28.2 | % | 29.3 | % |  | 2,831 |  |  | 2,267
Leao Alimentos e Bebidas, L.T.D.A. |  | Beverages |  | Brazil |  | 25.1 | % | 25.1 | % |  | 298 |  |  | 388
Alimentos de Soja S.A.U. |  | Beverages |  | Argentina |  | 10.7 | % | 10.7 | % |  | 23 |  |  | 282
Other investments in Coca-Cola FEMSA |  | Various |  | Various |  | Various |  | Various |  |  | 156 |  |  | 107
Proximity Americas Division: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Joint ventures: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Raizen Conveniências |  | Proximity |  | Brazil |  | 50.0 | % | 50.0 | % |  | 1,636 |  |  | 2,371
Other investments (1) (3) |  | Various |  | Various |  | Various |  | Various |  |  | 333 |  |  | 564
|  |  |  |  |  |  |  |  |  | Ps. | 26,247 |  | Ps. | 103,669
(1)Associate. (2)As of December 31, 2022 comprised of 8.63% of Heineken, N.V. and 12.26% of Heineken Holding, N.V., which represented an economic interest of 14.76% in Heineken Group. The Company had significant influence, mainly, because it participated in the Board of Directors of Heineken Holding, N.V. and the Supervisory Board of Heineken N.V. During the first semester of 2023, the Company completed the Heineken share offering, leaving less than 1% of economic interest in Heineken Group, therefore the Company no longer maintains significant influence over this Group. (3)Joint ventures. (4)As a result of the merger between Envoy Solutions and BradyIFS during October 2023, the Company owns 37.1% of the shares of IFS TopCo LLC, having significant influence over this investee, mainly because it has appointed directors who participate in the Board of IFS TopCo LLC (see Note 4).
Summarized Financial Information in Respect of Associate Accounted for Under Equity Method | Summarized financial information in respect of the associate Heineken Group accounted for under the equity method is set out below.
|  |  | December 31, 2022
Amounts in millions |  |  | Peso |  | Euro
Total current assets |  |  | Ps. | 227,480 |  | €. | 11,015
Total non-current assets |  |  |  | 854,803 |  |  | 41,391
Total current liabilities |  |  |  | 293,050 |  |  | 14,190
Total non-current liabilities |  |  |  | 336,543 |  |  | 16,296
Total equity |  |  |  | 452,690 |  |  | 21,920
Equity attributable to equity holders |  |  |  | 403,765 |  |  | 19,551
Total revenue and other income |  |  | Ps. | 598,072 |  | €. | 28,866
Total cost and expenses |  |  |  | 509,333 |  |  | 24,583
Net income |  |  | Ps. | 62,965 |  | €. | 3,039
Net income attributable to equity holders |  |  |  | 55,568 |  |  | 2,682
Other comprehensive income |  |  |  | 6,257 |  |  | 302
Total comprehensive income |  |  | Ps. | 69,222 |  | €. | 3,341
Total comprehensive income attributable to equity holders |  |  |  | 62,965 |  |  | 3,039
Reconciliation from Equity of Associate to Investment of Company | Reconciliation from the equity of the associate Heineken Group to the investment of the Company.
|  |  | December 31, 2022 |
Amounts in millions |  |  | Peso |  | Euro |
Equity attributable to equity holders of Heineken |  |  | Ps. | 403,765 |  | €. | 19,551 |
Economic ownership percentage |  | % |  | 14.76 | % |  | 14.76 |
Investment in Heineken investment exclusive of goodwill and other adjustments |  |  | Ps. | 59,560 |  | €. | 2,884 |
Effects of fair value determined by purchase price allocation |  |  |  | 14,528 |  |  | 704 |
Goodwill |  |  |  | 18,194 |  |  | 881 |
Heineken investment |  |  | Ps. | 92,282 |  | €. | 4,469 |
Reconciliation from the equity of the associate IFS TopCo LLC to the investment of the Company.
|  |  | December 31, 2023 |
Amounts in millions |  |  | Peso |  | U.S. dollars |
Fair value of IFS TopCo |  |  | Ps. | 36,169 |  | $. | 2,141 |
Economic ownership percentage |  | % |  | 37.08 | % |  | 37.08 |
Investment in IFS TopCo investment exclusive of goodwill and other adjustments |  |  | Ps. | 13,412 |  | $. | 794 |
Goodwill pending to be allocated |  |  |  | 1,620 |  |  | 96 |
IFS TopCo investment (1) |  |  | Ps. | 15,032 |  | $. | 890 |
(1)IFS TopCo purchase price allocation will be finalized during the twelve month remeasurement period after the acquisition date.
Schedule of Company's Share of Other Comprehensive Income from Equity Investees, Net of Taxes | For the year ended December 31, 2023, 2022 and 2021, the Company’s share of other comprehensive income from equity investees, net of taxes are as follows:
|  | 2023 |  | 2022 |  | 2021
Items that may be reclassified to consolidated net income: |  |  |  |  |  |  |  |  |
Valuation of the effective portion of derivative financial instruments |  | Ps. | (526) |  | Ps. | (286) |  |  | Ps. | 32
Exchange differences on translating foreign operations |  |  | 6,623 |  |  | 2,655 |  |  |  | 2,893
Total |  | Ps. | 6,097 |  | Ps. | 2,369 |  |  | Ps. | 2,925
Items that may not be reclassified to consolidated net income in subsequent periods: |  |  |  |  |  |  |  |  |
Remeasurements of the net defined benefit liability |  | Ps. | 897 |  | Ps. | 267 |  |  | Ps. | 590 |

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