XML 29 R15.htm IDEA: XBRL DOCUMENT v3.8.0.1
Investments in Other Entities
 12 Months Ended
Dec. 31, 2017
Text block1 [abstract]  
Investments in Other Entities

Note 9. Investments in Other Entities

As of December 31, 2017 and 2016 the investment in other entities is integrated as follows:

 

     2017      2016  

Investment in Associates and Joint Ventures

    Ps. 11,501      Ps. 22,357  

Venezuela Investment

      1,039        —    
  

 

 

     

 

 

  
   Ps. 12,540      Ps. 22,357  
  

 

 

     

 

 

  

Effective December 31, 2017, the Company determined that deteriorating conditions in Venezuela had led the Company to not longer meet the accounting criteria to consolidate its Venezuelan operation, the impacts of such deconsolidation are discussed on Note 3.3 above.

Details of the investment in associates and joint ventures are accounted for under the equity method at the end of the reporting period as follows:

 

                   Ownership Percentage     Carrying Amount  
Investee    Principal
Activity		      Place of
Incorporation		      2017     2016     2017      2016  

Joint ventures:

                

Compañía Panameña de Bebidas, S.A.P.I. de C.V.

      Beverages        Mexico        50.0 %      50.0 %      Ps.2,036        Ps.1,911  

Dispensadoras de Café, S.A.P.I. de C.V.

      Services        Mexico        50.0 %      50.0 %      153        145  

Estancia Hidromineral Itabirito, LTDA

     

 Bottling and

Distribution

  

 

      Brazil        50.0 %      50.0 %      —          96  

Fountain Agua Mineral, LTDA

      Beverages        Brazil        50.0 %      50.0 %      784        765  

Coca-Cola FEMSA Philippines, Inc.

      Bottling        Philippines        —         51.0 %      —          11,460  

Associates:

                

Promotora Industrial Azucarera, S.A. de C.V. (“PIASA”) (1)

      Sugar production        Mexico        36.4 %      36.4 %      2,933        2,657  

Jugos del Valle, S.A.P.I. de C.V. (1)

      Beverages        Mexico        26.3 %      26.3 %      1,560        1,574  

Leao Alimentos e Bebidas, LTDA (1)

      Beverages        Brazil        24.4 %      27.7 %      3,001        3,282  

UBI 3 Participacoes, LTDA(1)

      Beverages        Brazil        26 %      —         391        —    

Industria Envasadora de Querétaro, S.A. de C.V. (“IEQSA”) (1)

      Caned bottling        Mexico        26.5 %      26.5 %      177        177  

Industria Mexicana de Reciclaje, S.A. de C.V. (“IMER”) (1)

      Recycling        Mexico        35.0 %      35.0 %      121        100  

KSP Participacoes, LTDA (1)

      Beverages        Brazil        38.7 %      38.7 %      117        126  

Other

      Various        Various        Various       Various       228        64  
            

 

 

     

 

 

  
               Ps.11,501        Ps.22,357  
            

 

 

     

 

 

  

Accounting method:

 

(1) The Company has significant influence due to the fact that it has power to participate in the financial and operating policy decisions of the investee.

During 2017 the Company received dividends from Industria Envasadora de Querétaro, S.A. de C.V. (“IEQSA”) and Promotora Mexicana de Embotelladores, S.A. de C.V. in the amount of Ps. 16 and Ps. 17.

During 2017 the Company made capital contributions to Compañía Panameña de Bebidas, S.A.P.I. de C.V. and Promotora Industrial Azucarera, S.A. de C.V. in the amounts of Ps. 349 and Ps. 182, respectively, there were no changes in the ownership percentage as a result of capital contributions made by the other shareholders. On June 25, 2017, the Company through its Brazilian subsidiary Spal Industria Brasileira de Bebidas, S.A. sold 3.05% of their participation in Leao Alimentos e Bebidas, LTDA for an amount of Ps. 198.

On March 28, 2017 as part of AdeS acquisition the Company acquired an indirect participacion in equity method investees in Brazil and Argentina for an aggregate amount of Ps.587. During 2017, Itabirito merged with Spal this transaction did not generated any cash flow.

As mentioned in Note 4, on December 6, 2016 the Company through its subsidiary Spal completed the acquisition of 100% of Vonpar. As part of this acquisition Spal increase its equity interest by 3.36% in Leao Alimentos e Bebidas, LTDA.

During 2016 the Company made capital contributions to Leao Alimentos e Bebidas, LTDA, Compañía Panameña de Bebidas, S.A.P.I. de C.V. and Promotora Industrial Azucarera, S.A. de C.V. in the amounts of Ps. 1,273, Ps. 419 and Ps. 376, respectively, there were no changes in the ownership percentage as a result of capital contributions made by the other shareholders.

During 2016 the Company received dividends from Industria Envasadora de Queretaro, S.A. de C.V., and Estancia Hidromineral Itabirito, LTDA in the amount of Ps. 5 and Ps. 190.

As disclosed in Note 4.1.2, commencing on February 1, 2017, the Company started consolidating CCFPI’s financial results in its financial statements.

 

For the years ended December 31, 2017, 2016 and 2015 the equity method recognized for associates was Ps. 235, Ps. 31 and Ps. 185, respectively.

For the years ended December 31, 2017, 2016 and 2015 the equity method recognized for joint ventures was Ps. (175), Ps. 116 and Ps. (30), respectively.