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Bank Loans and Notes Payable (Tables)
 12 Months Ended
Dec. 31, 2024
Bank Loans and Notes Payable [Abstract]  
Summary of Detailed Information About Borrowings
    
As of December 31, (1)
                    
CarryingFairCarrying
Value atValue atValue at
(in millions of Mexican pesos)    202520252027202820292030 and thereafterDecember 31, 2024December 31, 2024December 31, 2023
Short-term debt: 
Fixed-rate debt: 
Euros
Bank loansPs.— Ps.— Ps.— Ps.— Ps.— Ps.— Ps.— Ps.— Ps.15 
Interest rate— %— %— %— %— %— %— %— 2.6 %
Argentine pesos 
Bank loans 638 — — — — — 638 638 72 
Interest rate 50.1 %— %— %— %— %— %50.1 %— %130.0 %
Chilean pesos 
Bank loans 460 — — — — — 460 460 633 
Interest rate 6.4 %— %— %— %— %— %6.4 %— 9.6 %
Colombian pesos
Bank loans345 — — — — — 345 345 — 
Interest rate10.4 %— %— %— %— %— %10.4 %— — %
Uruguayan pesos
Bank loans46 — — — — — 46 46 — 
Interest rate10.8 %— %— %— %— %— %10.8 %— — %
Variable-rate debt: 
Mexican pesos 
Bank loans 650 — — — — — 650 650 979 
Interest rate 13.5 %— %— %— %— %— %13.5 %— 13.3 %
Chilean pesos
Bank loans1,222 — — — — — 1,222 1,222 754 
Interest rate6.4 %— %— %— %— %— %6.4 %— 9.2 %
Colombian pesos
Bank loans414 — — — — — 414 414 — 
Interest rate10.4 %— %— %— %— %— %10.4 %— — %
Total short-term debt Ps.3,775 Ps.— Ps.— Ps.— Ps.— Ps.— Ps.3,775 Ps.3,775 Ps.2,453 
(1)All interest rates shown in this table are weighted average contractual annual rates.
    
As of December 31, (1)
    
Carrying Value at December 31, 2024Fair Value at December 31, 2024Carrying Value at December 31, 2023⁽¹⁾
2030 and Thereafter
(in millions of Mexican pesos)20252026202720282029
Long-term debt:                  
Fixed-rate debt:                            
Euro                            
Senior unsecured notes Ps.—Ps.10,457Ps.—Ps.6,223Ps.—Ps.5,068Ps.21,748Ps.20,274Ps.18,988
Interest rate —%2.6%—%0.5%—%1.0%1.6%—1.6%
Promissory notes————————1,064
Interest rate—%—%—%—%—%—%—%—1.3%
Swiss franc
Promissory notes————————463
Interest rate—%—%—%—%—%—%—%—0.8%
U.S. dollars 
Yankee bond (2)
 —————43,50443,50439,58636,352
Interest rate —%—%—%—%—%3.1%3.1%—3.1%
Bank of NY (FEMSA USD 2043) —————8,5638,5637,2837,121
Interest rate (1)
 —%—%—%—%—%4.4%4.4%—4.4%
Bank of NY (FEMSA USD 2050) —————27,24927,24919,66426,162
Interest rate (1)
 —%—%—%—%—%3.5%3.5%—3.5%
Bank loans 138—2,331———2,4692,4692,083
Interest rate 6.7%—%5.1%—%—%—%5.2%—3.8%
Mexican pesos 
(CEBUR MXN L22-2L) —————8,4358,4358,1108,434
Interest rate (1)
—%—%—%—%—%9.7%9.7%—9.7%
Domestic senior notes ——8,4959,961—5,49323,94922,49023,946
Interest rate —%—%7.9%7.4%—%10.0%8.1%—8.1%
Bank loans 18413210438——458458644
Interest rate 10.8%11.8%12.3%12.9%—%—%11.6%—11.4%
Brazilian reais 
Bank loans ————————21
Interest rate —%—%—%—%—%—%—%—6.9%
Chilean pesos 
Bank loans ————————27
Interest rate —%—%—%—%—%—%—%—9.3%
Subtotal Ps.322Ps.10,589Ps.10,930Ps.16,222Ps.—Ps.98,312Ps.136,375Ps.120,334Ps.125,305
(1)All interest rates shown in this table are weighted average contractual annual rates.
    
As of December 31, (1)
 
Carrying Value at December 31, 2024Fair Value at December 31, 2024Carrying Value at December 31, 2023⁽¹⁾
2030 and thereafter
(in millions of Mexican pesos)20252026202720282029
Variable-rate debt:                           
Euro
Promissory notesPs.—Ps.—Ps.—Ps.—Ps.—Ps.—Ps.—Ps.—Ps.1,700
Interest rate—%—%—%—%—%—%—%—4.8%
Swiss franc
Promissory notes— — — — — — — — 603 
Interest rate —%—%— %— %— %— %—%— 2.1%
Mexican pesos
(CEBUR MXN L22)——826 ———826832826
Interest rate (1)
—%—%11.6 %—%—%—%11.6%—11.6%
Domestic senior notes 1,727—2,927———4,6544,6594,653
Interest rate (1)
 10.5%—%10.5%—%—%—%10.5%—11.6%
Bank Loans 892 450 544 444 186 49 2,565 2,566 1,270 
Interest rate (1)
 13.4 %13.4 %12.6 %13.7 %13.8 %13.8 %13.3 %— 13.0 %
Brazilian reais 
Bank loans 6 3 — — — — 9 8 14 
Interest rate 9.1 %9.1 %— %— %— %— %9.1 %— 8.9 %
Subtotal Ps.2,625 Ps.453 Ps.4,297 Ps.444 Ps.186 Ps.49 Ps.8,054 Ps.8,065 Ps.9,066 
Total long-term debt Ps.2,947 Ps.11,042 Ps.15,227 Ps.16,666 Ps.186 Ps.98,361 Ps.144,429 Ps.128,399 Ps.134,371 
Current portion of long-term debt (2,947)(5,998)
Total debt (3)
Ps.148,204 Ps.136,824 
(1)All interest rates shown in this table are weighted average contractual annual rates.

(2)Interest rate derivatives that have been designated as fair value hedge relationships have been used by Coca-Cola FEMSA to mitigate the volatility in the fair value of existing financing instruments due to changes in floating interest rate benchmarks. Gains and losses on these instruments are recorded in “Market value (gain) loss on financial instruments” in the period in which they occur. During December 31, 2024, the Company applied hedging to a portion of the Senior Notes of US$705, which are linked to an interest rate swap. Starting in 2022, the hedging gain or loss adjust the carrying amount of the hedged item and is recognized in the consolidated income statement under “Market value (gain) loss in financial instruments”. During the year ended December 31, 2024, the Company recognized a gain of Ps. 383 in the consolidated income statement under “Market value (gain) loss in financial instruments”, which offsets the loss on interest rate derivatives used to hedge debt denominated in USD, that resulted from increases in interest rates.

(3)For the years ended December 31, 2024 and 2023 the Company paid for amortization cost Ps. 1,122 and Ps. 1,121 respectively.
Summary of Financial Instruments by Type of Interest Rate
2030 andTotalTotal 
 Hedging Derivative Financial Instruments (1)
20252026202720282029Thereafter20242023 
 (notional amounts in millions of Mexican pesos)
`
Cross-currency swaps:                                                
U.S. dollars to Mexican pesos                        
Fixed to a variable (3) (4)
 Ps.—Ps.—Ps.—Ps.—Ps.—14,330Ps.14,330Ps.6,031
Interest pay rate —————8.9%8.9%56.1%
Interest receive rate —————3.9%3.9%3.6%
Fixed to fixed —————10,00010,00010,000
Interest pay rate —————8.9%8.9%8.9%
Interest receive rate —————3.5%3.5%3.5%
Fixed to fixed (2)
 
Interest pay rate —————9.4%9.4%9.4%
Interest receive rate—————4.4%4.4%4.4%
U.S. dollars to Euro
Fixed to fixed———6,819—5,59512,41410,940
Interest pay rate———1.7%—2.1%1.9%1.9%
Interest receive rate———0.5%—1.0%0.7%0.7%
U.S. dollars to Brazilian reais
Fixed to variable—5,0672,027———7,0945,912
Interest pay rate—12.9%2.8%———12.1%11.6%
Interest receive rate—2.1%2.8%———2.3%2.3%
Fixed to fixed—————9,7299,7298,109
Interest pay rate—————8.0%8.0%8.0%
Interest receive rate—————2.8%2.8%2.8%
Colombian pesos
Fixed to fixed—1,184————1,184987
Interest pay rate—6.3%————6.3%6.3%
Interest receive rate—2.8%————2.8%2.8%
Interest rate swaps:
Fixed to variable rate:—————10,13410,1348,447
Interest pay rate—————4.8%4.8%5.7%
Interest receive rate—————1.9%1.9%1.9%
Variable to a fixed rate:——2,331———2,3311,943
Interest pay rate——3.6%———3.6%3.6%
Interest receive rate——1.9%———1.9%1.9%
Total—6,2514,3586,819—49,78867,21652,369
(1)All interest rates shown in this table are weighted average contractual annual rates.

(2)Cross Currency swaps which covers U.S. dollars to Mexican pesos with a notional of Ps. 24,330, that have a starting date in December 31, 2024; receiving a fixed rate of 4.4% and pay a fixed rate of 9.4%.

(3)Interest rate swaps with a notional amount of Ps.12,465 that receive a variable rate of 1.9% and pay a fixed rate of 3.6%; joined with a cross-currency swaps, which covers U.S. dollars to Mexican pesos, that receives a fixed rate of 4.4% and pay a variable rate of 9.4%.

(4)In 2023, the Company had an unwind of part of its cross-currency swaps related with the debt prepayment.
Summary of Interest Expense
For the years ended December 31, 2024, December 31, 2023 and December 31, 2022, the interest expense is comprised as follows:
202420232022
Interest on debts and borrowingsPs.8,817 Ps.8,555 Ps.8,129 
Interest expense charges for employee benefits (Note 17.4)587 590 553 
Derivative instruments3,188 (1,891)1,795 
Finance operating charges175 821 (413)
Interest expense for leases liabilities (Note 12)7,235 6,841 5,789 
Ps.20,002 Ps.14,916 Ps.15,853 
Disclosure of Interest Income
For the years ended December 31, 2024, December 31, 2023 and December 31, 2022, the interest income is comprised as follows:


202420232022
Tender OfferPs.782 Ps.6,961 Ps.— 
Interest on investments10,764 9,566 3,782 
Finance operating products305 514 — 
Others59 568 (13)
Ps.11,910 Ps.17,609 Ps.3,769 
Summary of Liabilities Arising from Financing Activities
 Carrying Carrying
 Value at Value at
 January 1, 2024Cash FlowsNon-cash effects December 31, 2024
            Foreign    
AcquisitionsNew leasesExchange
Others (1)
Income
(Loss)
Bank loans Ps.10,518Ps.2,105Ps.—Ps.—Ps.504Ps.(39)Ps.13,088
Notes payable 126,306(7,262)1,510—16,926(2,364)135,116
Total liabilities from financing activities 136,824(5,157)1,510—17,430(2,403)148,204
Lease liabilities 96,073(19,675)47417,5203,9959,708108,095
Total financing activities Ps.232,897Ps.(24,832)Ps.1,984Ps.17,520Ps.21,425Ps.7,305Ps.256,299
(1) Includes mainly remeasurements of leases, and amortized costs.

Carrying
Value atCarrying
JanuaryValue at
1, 2023Cash FlowsNon-cash effectsDecember 31, 2023
Foreign
AcquisitionNew leasesExchange
Others (1)
Income
(Loss)
Bank loansPs.12,893Ps.(1,526)Ps.3Ps.—Ps.(852)Ps.—Ps.10,518
Notes payable178,848(30,657)——(15,364)(6,521)126,306
Total liabilities from financing activities191,741(32,183)3—(16,216)(6,521)136,824
Lease liabilities93,317(16,171)4820,698(1,891)7296,073
Total financing activitiesPs.285,058Ps.(48,354)Ps.51Ps.20,698Ps.(18,107)Ps.(6,449)Ps.232,897
(1)Includes mainly remeasurements of leases, and amortization of transaction costs.
Carrying
Value atCarrying
JanuaryValue at
1, 2022
Cash Flows (2)
Non-cash effectsDecember 31, 2022
Foreign
AcquisitionNew leasesExchange
Others (1)
Income
(Loss)
Bank loansPs.7,580Ps.(415)Ps.6,181Ps.—Ps.(78)Ps.(375)Ps.12,893
Notes payable183,0056,718——(8,957)(1,919)178,848
Total liabilities from financing activities190,5856,3036,181—(9,034)(2,294)191,741
Lease liabilities62,355(15,108)21,93310,686(356)13,80793,317
Total liabilities from financing activities252,940(8,805)28,11410,686(9,390)11,513285,058

(1)Includes mainly remeasurements of leases, and amortization of transaction costs.
(2)Cash flows of Total liabilities from financing activities include Ps. 5,973 from continuing operations and Ps. 330 from discontinued operations.