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Employee Benefits (Tables) | 12 Months Ended
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Dec. 31, 2024
Employee Benefits [Abstract] |
Summary of Actuarial Assumptions | Actuarial calculations for pension and retirement plans, seniority premiums and post-retirement medical benefits, as well as the associated cost for the period, were determined using the following long-term assumptions for Mexico:
Mexico |  | December 31, 2024 |  | December 31, 2023 |  | December 31, 2022 |
Financial: |  |  |  |  |  |  |
Discount rate used to calculate the defined benefit obligation |  | 10.50 | % | 10.20 | % | 9.90 | %
Salary increase |  | 4.75 | % | 4.75 | % | 4.75 | %
Future pension increases |  | 3.75 | % | 3.75 | % | 3.75 | %
Healthcare cost increase rate |  | 6.00 | % | 6.00 | % | 6.00 | %
Biometric: |  |  |  |  |  |  |
Mortality (1) |  | EMSSA 2009 |  | EMSSA 2009 |  | EMSSA 2009 |
Disability (2) |  | IMSS 97 |  | IMSS‑97 |  | IMSS 97 |
Normal retirement age |  | 60 years |  | 60 years |  | 60 years |
Employee turnover table (3) |  | BMAR 2007 |  | BMAR 2007 |  | BMAR 2007 |
Measurement date December: (1)EMSSA. Mexican Experience of social security. (2)IMSS. Mexican Experience of Instituto Mexicano del Seguro Social. (3)BMAR. Actuary experience.
Summary of Defined Benefit Plan Expected Future Benefit Payments | Based on these assumptions, the amounts of benefits expected to be paid out in the following years are as follows:
|  | Pension and Retirement Plans |  | Seniority Premiums |  | Post-Retirement Medical Services |  | Total
2025 |  | Ps. | 1,589 |  | Ps. | 421 |  | Ps. | 23 |  | Ps. | 2,033
2026 |  |  | 949 |  |  | 285 |  |  | 24 |  |  | 1,258
2027 |  |  | 1,097 |  |  | 272 |  |  | 27 |  |  | 1,396
2028 |  |  | 969 |  |  | 265 |  |  | 29 |  |  | 1,263
2029 |  |  | 1,097 |  |  | 269 |  |  | 31 |  |  | 1,397
2030 to 2034 |  |  | 5,481 |  |  | 1,385 |  |  | 198 |  |  | 7,064
Summary of Balances of the Liabilities for Employee Benefits |
|  | December 31, 2024 |  | December 31, 2023
Pension and Retirement Plans: |  |  |  |  |  |
Defined benefit obligation |  | Ps. | 17,866 |  |  | Ps. | 15,560 |
Pension plan assets at fair value |  |  | (16,227) |  |  |  | (14,061) |
Effect due to asset ceiling |  |  | 3,789 |  |  |  | 3,098 |
Discontinued operations |  |  | — |  |  |  | (195) |
Net defined benefit liability |  | Ps. | 5,428 |  |  | Ps. | 4,402 |
Seniority Premiums: |  |  |  |  |  |
Defined benefit obligation |  | Ps. | 2,972 |  |  | Ps. | 2,416 |
Seniority premium plan assets at fair value |  |  | (126) |  |  |  | (123) |
Discontinued operations |  |  | — |  |  |  | (235) |
Net defined benefit liability |  | Ps. | 2,846 |  |  | Ps. | 2,058 |
Postretirement Medical Services: |  |  |  |  |  |
Defined benefit obligation |  | Ps. | 594 |  |  | Ps. | 604 |
Medical services plan assets at fair value |  |  | (108) |  |  |  | (95) |
Discontinued operations |  |  | — |  |  |  | (49) |
Net defined benefit liability |  | Ps. | 486 |  |  | Ps. | 460 |
Total Employee Benefits (1) |  | Ps. | 8,760 |  |  | Ps. | 6,920 |
(1)As of December 31, 2024, it includes Ps. 208, corresponding to the Asset Ceiling effect of Valora, which is presented in other non-current assets in the consolidated statements of financial position.
Summary of Trust Assets | Plan assets consist of fixed and variable return financial instruments recorded at fair value (Level 1), which are invested as follows:
|  | 2024 | 2023
Fixed return: |  |  |  |  |
Traded securities |  | 5 | % | 4 | %
Bank instruments |  | 14 | % | 16 | %
Federal government instruments of the respective countries |  | 47 | % | 47 | %
Variable return: |  |  |  |  |
Publicly traded shares |  | 34 | % | 33 | %
|  | 100 | % | 100 | %
Summary of Amounts and Types of Securities in Related Parties Included in Portfolio Fund | In Mexico, the amounts and types of securities in related parties included in the portfolio fund are as follows:
|  | December 31, 2024 |  | December 31, 2023
Debt: |  |  |  |  |  |
BBVA Bancomer, S.A de C.V. |  | Ps. | 43 |  |  | Ps. | 46 |
Grupo Industrial Bimbo, S.A.B. de C. V. |  |  | 19 |  |  |  | 18 |
Equity: |  |  |  |  |  |
Grupo Industrial Bimbo, S.A.B. de C. V. |  |  | 1 |  |  |  | 1 |
Summary of Amount Recognized in Consolidated Income Statements and Consolidated Statements of Comprehensive Income |
|  | Consolidated Income Statement |  | AOCI (1)
December 31, 2024 |  | Current Service Cost |  | Past Service Cost |  | Gain or Loss on Settlement or Curtailment |  | Net Interest on the Net Defined Benefit Liability |  | Remeasurements of the Net Defined Benefit Liability
Pension and retirement plans |  | Ps. | 505 |  |  | Ps. | 304 |  |  | Ps. | (254) |  |  | Ps. | 339 |  |  | Ps. | 2,019 |
Seniority premiums |  |  | 394 |  |  |  | 89 |  |  |  | (27) |  |  |  | 200 |  |  |  | 441 |
Postretirement medical services |  |  | 30 |  |  |  | 36 |  |  |  | (25) |  |  |  | 48 |  |  |  | (56) |
Total |  | Ps. | 929 |  |  | Ps. | 429 |  |  | Ps. | (306) |  |  | Ps. | 587 |  |  | Ps. | 2,404 |
December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pension and retirement plans |  | Ps. | 489 |  |  | Ps. | 288 |  |  | Ps. | (243) |  |  | Ps. | 367 |  |  | Ps. | 1,311 |
Seniority premiums |  |  | 345 |  |  |  | 21 |  |  |  | (21) |  |  |  | 178 |  |  |  | 117 |
Postretirement medical services |  |  | 32 |  |  |  | 13 |  |  |  | (14) |  |  |  | 45 |  |  |  | (29) |
Total |  | Ps. | 866 |  |  | Ps. | 322 |  |  | Ps. | (278) |  |  | Ps. | 590 |  |  | Ps. | 1,399 |
December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pension and retirement plans |  | Ps. | 534 |  |  | Ps. | 189 |  |  | Ps. | (220) |  |  | Ps. | 313 |  |  | Ps. | 1,686 |
Seniority premiums |  |  | 328 |  |  |  | 21 |  |  |  | (27) |  |  |  | 150 |  |  |  | 38 |
Postretirement medical services |  |  | 32 |  |  |  | 26 |  |  |  | (29) |  |  |  | 45 |  |  |  | (35) |
Total |  | Ps. | 894 |  |  | Ps. | 236 |  |  | Ps. | (276) |  |  | Ps. | 508 |  |  | Ps. | 1,689 |
(1)Amounts accumulated in other comprehensive income as of the end of the period.
Summary of Remeasurements of Net Defined Benefit Liability Recognized in Accumulated Other Comprehensive Income | Remeasurements of the net defined benefit liability recognized in accumulated other comprehensive income are as follows:
|  | December 31, 2024 |  | December 31, 2023 |  | December 31, 2022
Amount accumulated in other comprehensive income as of the beginning of the period, net of tax |  | Ps. | 923 |  |  | Ps. | 1,661 |  |  | Ps. | 2,078 |
Actuarial (gains) losses arising from exchange rates |  |  | 190 |  |  |  | (100) |  |  |  | (77) |
Remeasurements during the year, net of tax |  |  | 931 |  |  |  | 314 |  |  |  | 211 |
Actuarial (gains) and losses arising from changes in financial assumptions |  |  | 957 |  |  |  | 223 |  |  |  | (1,848) |
Actuarial (gains) and losses arising from changes in demographic assumptions |  |  | 1 |  |  |  | (4) |  |  |  | (71) |
Business Acquisitions |  |  | — |  |  |  | — |  |  |  | 336 |
Return on plan assets |  |  | (752) |  |  |  | (92) |  |  |  | 713 |
Changes in the effect of limiting a net defined benefit asset to the asset ceiling |  |  | (286) |  |  |  | (546) |  |  |  | 319 |
Effect of settlement |  |  | — |  |  |  | (533) |  |  |  | — |
Amount accumulated in other comprehensive income as of the end of the period, net of tax |  | Ps. | 1,964 |  |  | Ps. | 923 |  |  | Ps. | 1,661 |
Summary of Changes in the Balance of the Defined Benefit Obligation for Post-employment |
|  | December 31, 2024 |  | December 31, 2023 |  | December 31, 2022
Pension and Retirement Plans: |  |  |  |  |  |  |  |  |
Initial balance |  | Ps. | 15,366 |  |  | Ps. | 15,113 |  |  | Ps. | 8,015 |
Current service cost |  |  | 505 |  |  |  | 489 |  |  |  | 534 |
Past service cost |  |  | 239 |  |  |  | 288 |  |  |  | 163 |
Interest expense |  |  | 815 |  |  |  | 820 |  |  |  | 687 |
Gain on settlement |  |  | (254) |  |  |  | (243) |  |  |  | (280) |
Remeasurements of the net defined benefit obligation |  |  | 708 |  |  |  | 531 |  |  |  | (2,073) |
Foreign exchange (gain) or loss |  |  | 1,793 |  |  |  | (48) |  |  |  | (79) |
Benefits paid |  |  | (1,430) |  |  |  | (1,504) |  |  |  | (1,146) |
Business acquisitions |  |  | — |  |  |  | — |  |  |  | 9,189 |
Employees contributions |  |  | 105 |  |  |  | 119 |  |  |  | 103 |
Local plans |  |  | 19 |  |  |  | — |  |  |  | — |
Plan amendments |  |  | — |  |  |  | (4) |  |  |  | — |
Discontinued operations |  |  | — |  |  |  | (195) |  |  |  | — |
Ending balance |  | Ps. | 17,866 |  |  | Ps. | 15,366 |  |  | Ps. | 15,113 |
Seniority Premiums: |  |  |  |  |  |  |  |  |
Initial balance |  | Ps. | 2,181 |  |  | Ps. | 2,068 |  |  | Ps. | 2,108 |
Current service cost |  |  | 394 |  |  |  | 345 |  |  |  | 328 |
Past service cost |  |  | 89 |  |  |  | 21 |  |  |  | 7 |
Interest expense |  |  | 212 |  |  |  | 191 |  |  |  | 160 |
Gain on settlement |  |  | (27) |  |  |  | (21) |  |  |  | (13) |
Remeasurements of the net defined benefit obligation |  |  | 324 |  |  |  | 66 |  |  |  | (342) |
Benefits paid |  |  | (201) |  |  |  | (254) |  |  |  | (180) |
Discontinued operations |  |  | — |  |  |  | (235) |  |  |  | — |
Ending balance |  | Ps. | 2,972 |  |  | Ps. | 2,181 |  |  | Ps. | 2,068 |
Postretirement Medical Services: |  |  |  |  |  |  |  |  |
Initial balance |  | Ps. | 554 |  |  | Ps. | 556 |  |  | Ps. | 647 |
Current service cost |  |  | 30 |  |  |  | 32 |  |  |  | 32 |
Past service cost |  |  | 36 |  |  |  | 13 |  |  |  | 26 |
Interest expense |  |  | 57 |  |  |  | 54 |  |  |  | 52 |
Gain on settlement |  |  | (25) |  |  |  | (14) |  |  |  | (29) |
Remeasurements of the net defined benefit obligation |  |  | (27) |  |  |  | 5 |  |  |  | (136) |
Benefits paid |  |  | (31) |  |  |  | (43) |  |  |  | (36) |
Discontinued operations |  |  | — |  |  |  | (49) |  |  |  | — |
Ending balance |  | Ps. | 594 |  |  | Ps. | 554 |  |  | Ps. | 556 |
Summary of Changes in the Balance of Plan Assets |
|  | December 31, 2024 |  | December 31, 2023 |  | December 31, 2022
Total Plan Assets: |  |  |  |  |  |  |  |  |
Initial balance |  | Ps. | 14,279 |  | Ps. | 14,540 |  | Ps. | 3,170
Actual return on trust assets |  |  | 497 |  |  | 522 |  |  | (695)
Return on plan assets excluding amounts included in interest income |  |  | 886 |  |  | — |  |  | —
Foreign exchange loss |  |  | 1,288 |  |  | (150) |  |  | 60
Life annuities |  |  | (25) |  |  | 6 |  |  | (3)
Business Acquisitions |  |  | — |  |  | — |  |  | 12,417
Benefits paid |  |  | (623) |  |  | (731) |  |  | (533)
Plan amendments |  |  | (65) |  |  | (126) |  |  | (101)
Employees´contributions |  |  | 105 |  |  | 102 |  |  | 103
Employer´s contributions |  |  | 133 |  |  | 130 |  |  | 133
Administration cost |  |  | (14) |  |  | (14) |  |  | (11)
Ending balance |  | Ps. | 16,461 |  | Ps. | 14,279 |  | Ps. | 14,540
Summary of Amount of Defined Benefit Plan Expense and OCI Impact in Absolute Terms of Variation on Net Defined Benefit Liability | The following table presents the amount of defined benefit plan expense and OCI impact in absolute terms of a variation of 1% in the assumptions on the net defined benefit liability associated with the Company’s defined benefit plans. The sensitivity of this 1% on the significant actuarial assumptions is based on projected long-term discount rates for Mexico and a yield curve projection of CETES:
+1%: |  | Consolidated Income Statement |  | OCI(1)
|  |  |  |  | (Gain) or |  | Effect of Net |  | Remeasurements
Discount rate used to calculate the defined benefit |  |  |  |  | Loss on |  | Interest on the Net |  | of the Net Defined
obligation and the net interest on the net defined |  | Current |  | Settlement or |  | Defined Benefit |  | Benefit Liability
benefit liability |  | Service Cost |  | Curtailment |  | Liability |  |
Pension and retirement plans |  | Ps. | 771 |  | Ps. | (252) |  |  | Ps. | 283 |  | Ps. | 2,316
Seniority premiums |  |  | 454 |  |  | (25) |  |  |  | 185 |  |  | 408
Postretirement medical services |  |  | 54 |  |  | (21) |  |  |  | 38 |  |  | (49)
Total |  | Ps. | 1,279 |  | Ps. | (298) |  |  | Ps. | 506 |  | Ps. | 2,675
Expected salary increase |  |  |  |  |  |  |  |  |  |  |  |
Pension and retirement plans |  | Ps. | 874 |  | Ps. | (289) |  |  | Ps. | 404 |  | Ps. | 2,564
Seniority premiums |  |  | 512 |  |  | (28) |  |  |  | 205 |  |  | 455
Total |  | Ps. | 1,386 |  | Ps. | (317) |  |  | Ps. | 609 |  | Ps. | 3,019
Assumed rate of increase in healthcare costs |  |  |  |  |  |  |  |  |  |  |  |
Postretirement medical services |  | Ps. | 80 |  | Ps. | (30) |  |  | Ps. | 54 |  | Ps. | (76)
-1%: |  | Consolidated Income Statement |  | OCI(1)
|  |  |  |  | (Gain) or |  | Effect of Net |  | Remeasurements
Discount rate used to calculate the defined benefit |  |  |  |  | Loss on |  | Interest on the Net |  | of the Net Defined
obligation and the net interest on the net defined |  | Current |  | Settlement or |  | Defined Benefit |  | Benefit Liability
benefit liability |  | Service Cost |  | Curtailment |  | Liability |  |
Pension and retirement plans |  | Ps. | 873 |  |  | Ps. | (280) |  |  | Ps. | 446 |  |  | Ps. | 2,594 |
Seniority premiums |  |  | 507 |  |  |  | (29) |  |  |  | 217 |  |  |  | 480 |
Postretirement medical services |  |  | 79 |  |  |  | (30) |  |  |  | 55 |  |  |  | (75) |
Total |  | Ps. | 1,459 |  |  | Ps. | (339) |  |  | Ps. | 718 |  |  | Ps. | 2,999 |
Expected salary increase |  |  |  |  |  |  |  |  |  |  |  |
Pension and retirement plans |  | Ps. | 751 |  |  | Ps. | (248) |  |  | Ps. | 313 |  |  | Ps. | 2,334 |
Seniority premiums |  |  | 453 |  |  |  | (26) |  |  |  | 194 |  |  |  | 425 |
Total |  | Ps. | 1,204 |  |  | Ps. | (274) |  |  | Ps. | 507 |  |  | Ps. | 2,759 |
Assumed rate of increase in healthcare costs |  |  |  |  |  |  |  |  |  |  |  |
Postretirement medical services |  | Ps. | 53 |  |  | Ps. | (21) |  |  | Ps. | 39 |  |  | Ps. | (49) |
(1)Amounts accumulated in other comprehensive income as of the end of the period.
Summary of Employee Benefit Expenses Recognized in Consolidated Income Statements | For the years ended December 31, 2024, 2023 and 2022, employee benefits expenses recognized in the consolidated income statements as cost of goods sold, administrative and selling expenses are as follows:
|  | 2024 |  | 2023 |  | 2022
Wages and salaries |  | Ps. | 104,357 |  |  | Ps. | 97,751 |  |  | Ps. | 83,433 |
Social security costs |  |  | 17,586 |  |  |  | 15,941 |  |  |  | 13,511 |
Employee profit sharing |  |  | 2,694 |  |  |  | 2,419 |  |  |  | 2,598 |
Post-employment benefits |  |  | 1,052 |  |  |  | 910 |  |  |  | 854 |
Share-based payments (Note 15) |  |  | 947 |  |  |  | 943 |  |  |  | 866 |
|  | Ps. | 126,636 |  | Ps. | 117,964 |  |  | Ps. | 101,262 |

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