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Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2024

Intangible assets other than goodwill [abstract]

Summary of Reconciliation of Changes in Intangible Assets and Goodwill

						Rights to Produce and Distribute Coca-Cola Trademark Products									Goodwill									Trademark Rights									Other Indefinite Lived Intangible Assets									Total Unamortized Intangible Assets									Technology Costs and Management Systems									Customer Relationships (1)									Alcohol Licenses									Other									Total Amortized Intangible Assets									Total Intangible Assets
Cost as of January 1, 2022						Ps.			75,396						Ps.			57,351						Ps.			8,073						Ps.			1,413						Ps.			142,233						Ps.			10,661						Ps.			10,800						Ps.			2,006						Ps.			2,470						Ps.			25,937						Ps.			168,170
Additions									—									22									—									12									34									672									—									50									1,476									2,198									2,232
Acquisitions from business combinations (see Note 4)									1,116									33,715									1,077									—									35,908									373									—									—									1,054									1,427									37,335
Changes in fair value of past acquisitions									—									(2,557)									—									—									(2,557)									—									2,955									—									—									2,955									398
Internal developments									—									—									—									—									—									10									—									—									—									10									10
Transfer of completed development systems									—									—									—									—									—									65									—									(50)									(15)									—									—
Disposals									—									—									—									(2)									(2)									(891)									(3)									(29)									—									(923)									(925)
Effect of movements in exchange rates									(756)									(2,057)									(106)									(158)									(3,077)									15									(264)									—									466									217									(2,860)
Changes in value on the recognition of inflation effects									—									—									—									—									—									—									—									—									80									80									80
Impairment									—									(770)									—									—									(770)									—									—									—									—									—									(770)
Cost as of December 31, 2022						Ps.			75,756						Ps.			85,704						Ps.			9,044						Ps.			1,265						Ps.			171,769						Ps.			10,905						Ps.			13,488						Ps.			1,977						Ps.			5,531						Ps.			31,901						Ps.			203,670

(1)Includes customer relationships related to the acquisitions through Envoy Solutions disclosed in Note 4.

						Rights to Produce and Distribute Coca-Cola Trademark Products									Goodwill									Trademark Rights									Other Indefinite Lived Intangible Assets									Total Unamortized Intangible Assets									Technology Costs and Management Systems									Customer Relationships (1)									Alcohol Licenses									Other									Total Amortized Intangible Assets									Total Intangible Assets
Cost as of January 1, 2023						Ps.			75,756						Ps.			85,704						Ps.			9,044						Ps.			1,265						Ps.			171,769						Ps.			10,905						Ps.			13,488						Ps.			1,977						Ps.			5,531						Ps.			31,901						Ps.			203,670
Additions									—									—									—									4									4									1,966									—									261									1,174									3,401									3,405
Acquisitions from business combinations (see Note 4)									—									3,918									26									—									3,944									145									188									—									25									358									4,302
Changes in fair value of past acquisitions									—									(12,273)									7,683									—									(4,590)									—									5,162									—									(117)									5,045									455
Business disposals									(12)									(25,036)									(3,009)									(56)									(28,113)									(482)									(17,788)									—									(29)									(18,299)									(46,412)
Transfer of completed development systems									(224)									—									—									227									3									292									—									—									(295)									(3)									—
Disposals									—									(2)									—									(2)									(4)									(197)									—									(161)									(235)									(593)									(597)
Effect of movements in exchange rates									(1,568)									(3,744)									(810)									45									(6,077)									(424)									(814)									—									(683)									(1,921)									(7,998)
Changes in value on the recognition of inflation effects									—									—									—									—									—									—									—									—									70									70									70
Impairment									—									(4,995)									—									—									(4,995)									—									—									—									—									—									(4,995)
Business combinations from disposals									—									1,950									—									—									1,950									—									—									—									—									—									1,950
Cost as of December 31, 2023						Ps.			73,952						Ps.			45,522						Ps.			12,934						Ps.			1,483						Ps.			133,891						Ps.			12,205						Ps.			236						Ps.			2,077						Ps.			5,441						Ps.			19,959						Ps.			153,850

(1)Includes customer relationships related to the acquisitions through Envoy Solutions disclosed in Note 4.

						Rights to Produce and Distribute Coca-Cola Trademark Products									Goodwill									Trademark Rights									Other Indefinite Lived Intangible Assets									Total Unamortized Intangible Assets									Technology Costs and Management Systems									Customer Relationships									Alcohol Licenses									Other									Total Amortized Intangible Assets									Total Intangible Assets
Cost as of January 1, 2024						Ps.			73,952						Ps.			45,522						Ps.			12,934						Ps.			1,483						Ps.			133,891						Ps.			12,205						Ps.			236						Ps.			2,077						Ps.			5,441						Ps.			19,959						Ps.			153,850
Additions									—									461									—									95									556									1,774									3									88									1,210									3,075									3,631
Acquisitions from business combinations (see Note 4)									—									2,809									—									—									2,809									—									—									—									1,216									1,216									4,025
Changes in fair value of past acquisitions									—									—									—									—									—									—									(3)									—									3									—									—
Transfer of completed development systems									—									—									—									—									—									670									—									—									(670)									—									—
Disposals									—									—									—									(50)									(50)									(76)									—									—									(31)									(107)									(157)
Effect of movements in exchange rates									657									(371)									289									22									597									2,434									466									145									(867)									2,178									2,775
Changes in value on the recognition of inflation effects									—									—									—									—									—									256									—									—									(123)									133									133
Impairment									—									(1,797)									(1,004)									—									(2,801)									—									—									—									—									—									(2,801)
Cost as of December 31, 2024						Ps.			74,609						Ps.			46,624						Ps.			12,219						Ps.			1,550						Ps.			135,002						Ps.			17,263						Ps.			702						Ps.			2,310						Ps.			6,179						Ps.			26,454						Ps.			161,456

Amortization and Impairment Losses						Rights to Produce and Distribute Coca-Cola Trademark Products									Goodwill									Trademark Rights									Other Indefinite Lived Intangible Assets									Total Unamortized Intangible Assets									Technology Costs and Management Systems									Customer Relationships									Alcohol Licenses									Other									Total Amortized Intangible Assets									Total Intangible Assets
Amortization as of January 1 2022						Ps.			—						Ps.			—						Ps.			—						Ps.			—						Ps.			—						Ps.			(6,414)						Ps.			(1,608)						Ps.			(838)						Ps.			(1,172)						Ps.			(10,032)						Ps.			(10,032)
Amortization expense									—									—									—									—									—									(1,312)									(915)									(104)									(365)									(2,696)									(2,696)
Disposals									—									—									—									—									—									992									157									3									—									1,152									1,152
Effect of movements in exchange rates									—									—									—									—									—									(193)									(786)									—									(248)									(1,227)									(1,227)
Changes in value on the recognition of inflation effects									—									—									—									—									—									(94)									—									—									(1)									(95)									(95)
Amortization as of December 31 2022						Ps.			—						Ps.			—						Ps.			—						Ps.			—						Ps.			—						Ps.			(7,021)						Ps.			(3,152)						Ps.			(939)						Ps.			(1,786)						Ps.			(12,898)						Ps.			(12,898)
Amortization as of January 1 2023						Ps.			—						Ps.			—						Ps.			—						Ps.			—						Ps.			—						Ps.			(7,021)						Ps.			(3,152)						Ps.			(939)						Ps.			(1,786)						Ps.			(12,898)						Ps.			(12,898)
Amortization expense									—									—									—									—									—									(1,519)									(1,113)									(116)									(547)									(3,295)									(3,295)
Disposals									—									—									—									—									—									161									—									—									209									370									370
Business disposals									—									—									—									—									—									276									4,010									—									51									4,337									4,337
Impairment									—									—									(36)									—									(36)									—									—									—									—									—									(36)
Effect of movements in exchange rates									—									—									—									—									—									578									188									15									187									968									968
Changes in value on the recognition of inflation effects									—									—									—									—									—									(78)									—									—									—									(78)									(78)
Amortization as of December 31 2023						Ps.			—						Ps.			—						Ps.			(36)						Ps.			—						Ps.			(36)						Ps.			(7,603)						Ps.			(67)						Ps.			(1,040)						Ps.			(1,886)						Ps.			(10,596)						Ps.			(10,632)
Amortization as of January 1 2024						Ps.			—						Ps.			—						Ps.			(36)						Ps.			—						Ps.			(36)						Ps.			(7,603)						Ps.			(67)						Ps.			(1,040)						Ps.			(1,886)						Ps.			(10,596)						Ps.			(10,632)
Amortization expense									—									—									—									—									—									(1,895)									(17)									(226)									(479)									(2,617)									(2,617)
Disposals									—									—									—									—									—									56									27									—									2									85									85
Effect of movements in exchange rates									(745)									—									—									—									(745)									(648)									(413)									126									(147)									(1,082)									(1,827)
Changes in value on the recognition of inflation effects									—									—									—									—									—									(129)									—									—									—									(129)									(129)
Amortization as of December 31 2024						Ps.			(745)						Ps.			—						Ps.			(36)						Ps.			—						Ps.			(781)						Ps.			(10,219)						Ps.			(470)						Ps.			(1,140)						Ps.			(2,510)						Ps.			(14,339)						Ps.			(15,120)

Carrying Amount						Rights to Produce and Distribute Coca-Cola Trademark Products									Goodwill									Trademark Rights									Other Indefinite Lived Intangible Assets									Total Unamortized Intangible Assets									Technology Costs and Management Systems									Customer Relationships									Alcohol Licenses									Other									Total Amortized Intangible Assets									Total Intangible Assets
As of December 31 2022						Ps.			75,756						Ps.			85,704						Ps.			9,044						Ps.			1,265						Ps.			171,769						Ps.			3,884						Ps.			10,336						Ps.			1,038						Ps.			3,745						Ps.			19,003						Ps.			190,772
As of December 31 2023						Ps.			73,952						Ps.			45,522						Ps.			12,898						Ps.			1,483						Ps.			133,855						Ps.			4,602						Ps.			169						Ps.			1,037						Ps.			3,555						Ps.			9,363						Ps.			143,218
As of December 31 2024						Ps.			73,864						Ps.			46,624						Ps.			12,183						Ps.			1,550						Ps.			134,221						Ps.			7,044						Ps.			232						Ps.			1,170						Ps.			3,669						Ps.			12,115						Ps.			146,336

Schedule of Allocation of Amortization Expenses

For the years ended December 31, 2024, December 31, 2023 and 2022, allocation for amortization expense is as follows:

						2024									2023									2022
Cost of goods sold						Ps.			49						Ps.			1,229						Ps.			207
Administrative expenses									649									1,257									1,771
Selling expenses									1,919									809									718
						Ps.			2,617						Ps.			3,295						Ps.			2,696

Summary of Average Remaining Period for Company's Intangible Assets Subject to Amortization

The average remaining period for the Company’s intangible assets that are subject to amortization is as follows:

						Years
Technology Costs and Management Systems						3 - 10
Customer Relationships						6 - 25
Alcohol Licenses						12

Disclosure of Aggregate Carrying Amounts of Goodwill and Distribution Rights Allocated to Each CGU

The aggregate carrying amounts of goodwill, distribution rights and other indefinite lived intangible assets allocated to each CGU are as follows:

						December 31, 2024									December 31, 2023
Mexico						Ps.			57,689						Ps.			56,662
Guatemala									1,695									1,684
Nicaragua									404									404
Costa Rica									1,439									1,418
Panama									1,170									1,169
Colombia									3,638									3,635
Brazil									28,199									30,018
Argentina									512									245
Uruguay									2,452									2,381
Total						Ps.			97,198						Ps.			97,616

Details of Key Assumptions by CGU for Impairment Test

The key assumptions by CGU for impairment testing as of December 31, 2024 were as follows:

						Pre-tax WACC						Post-tax WACC						Expected Annual Long-Term Inflation						Expected Volume Growth Rates
CGU																		2025‑2029						2025‑2029
Mexico						9.0			%			6.3			%			4.1			%			5.4			%
Brazil						10.9			%			6.8			%			3.6			%			4.1			%
Colombia						12.0			%			7.9			%			3.1			%			6.6			%
Argentina						16.0			%			12.0			%			35.1			%			4.5			%
Guatemala						9.5			%			7.2			%			4.0			%			11.9			%
Costa Rica						12.0			%			8.5			%			2.8			%			6.6			%
Nicaragua						23.0			%			13.1			%			3.5			%			6.5			%
Panama						11.7			%			9.1			%			1.8			%			6.3			%
Uruguay						9.5			%			7.1			%			5.1			%			4.2			%

The key assumptions by CGU for impairment testing as of December 31, 2023 were as follows:

						Pre-tax WACC						Post-tax WACC						Expected Annual Long-Term Inflation						Expected Volume Growth Rates
CGU																		2024‑2028						2024‑2028
Mexico						9.0			%			6.3			%			4.3			%			4.4			%
Brazil						10.1			%			6.8			%			3.8			%			3.8			%
Colombia						12.2			%			7.7			%			4.2			%			6.8			%
Argentina						20.8			%			16.1			%			70.8			%			4.8			%
Guatemala						9.3			%			7.3			%			4.0			%			14.9			%
Costa Rica						11.4			%			8.8			%			2.9			%			6.6			%
Nicaragua						23.3			%			16.4			%			2.6			%			6.5			%
Panama						11.6			%			8.6			%			2.0			%			7.8			%
Uruguay						9.7			%			7.4			%			5.7			%			3.7			%

The key assumptions by the significant CGU (Chile) in the Health Division (Mexico, Colombia and Ecuador are insignificant) for impairment test as of December 31, 2024 was as follows:

CGU						Pre-tax WACC						Post-tax WACC						Expected Annual Long-Term  Inflation 2025‑2029												Expected Sales Growth Rate
Chile						6.8			%			5.9			%			3.1			%									1.9			%

The key assumptions by the significant CGU in the Health Division for impairment test as of December 31, 2023 was as follows:

CGU						Pre-tax WACC						Post-tax WACC						Expected Annual Long-Term  Inflation 2024‑2028						Expected Sales Growth Rates 2024‑2028
Chile						7.3			%			6.4			%			2.6			%			0.2			%

The key assumptions by CGU for impairment test as of December 31, 2024 were as follows:

CGU						Pre-tax WACC						Post-tax WACC						Expected Annual Long-Term  Inflation 2025‑2029												Expected Sales Growth Rates
Valora						5.7			%			5.3			%			1.0			%									4.5			%

The key assumptions by CGU for impairment test as of December 31, 2023 was as follows:

CGU						Pre-tax WACC						Post-tax WACC						Expected Annual Long-Term Inflation 2024‑2028						Expected Sales Growth Rates 2024‑2028
Valora						5.8			%			5.5			%			1.4			%			0.2			%

Disclosure of Detailed Information About Sensitivity to Changes in Assumptions

CGU

Change in post-tax WACC

Change in Expected Volume Growth CAGR (1)

Effect on Valuation

Mexico

+0.4

p.p.

-1.0

%

Passes by 5x

Brazil

+0.5

p.p.

-1.0

%

Passes by 1.9x

Colombia

+0.7

p.p.

-1.0

%

Passes by 2.5x

Argentina

+1.7

p.p.

-1.0

%

Passes by 5x

Guatemala

+0.5

p.p.

-1.0

%

Passes by 7.3x

Costa Rica

+0.5

p.p.

-1.0

%

Passes by 3.9x

Nicaragua

+1.7

p.p.

-1.0

%

Passes by 2.1x

Panama

+0.6

p.p.

-1.0

%

Passes by 3.6x

Uruguay

+0.1

p.p.

-1.0

%

Passes by 3x

(1)Compound Annual Growth Rate (“CAGR”).

The sensitivity test by the significant CGU in the Health Division as of December 31, 2024 was as follows:

CGU

Change in WACC

Change in Expected Sales Growth Rates CAGR

Effect on Valuation

Chile

0.3

p.p.

(0.5)

%

Passes by 6.24x

On December 31, 2024, the Company performed an additional impairment sensitivity calculation, taking into account an effect of 50 basis points in the sale’s compound annual growth rate (“CAGR”), concluding that no impairment would be recognized.

CGU

Change in Expected Sales Growth CAGR

Effect on Valuation

Valora

(0.5)

%

Passes by 1.45x

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