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Employee Benefits (Tables)

12 Months Ended

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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