Note 20. Non-Controlling Interest in Consolidated Subsidiaries

An analysis of Coca-Cola FEMSA’s non-controlling interest in its consolidated subsidiaries for the years ended December 31, 2017, 2016 and 2015 is as follows:

2017

2016

2015

Mexico

Ps.

5,994

Ps.

5,879

Ps.

3,342

Colombia

Brazil

1,224

1,195

632

Philippines

10,900

—

Ps.

18,141

Ps.

7,096

Ps.

3,986

Non-controlling interests in Mexico primarily represent the individual results of a Mexican holding company Kristine Oversease, S.A.P.I. de C.V. This entity also has non-controlling stakes in certain Brazilian subsidiaries.

As disclosed in Note 4.1.2, commencing on February 1, 2017, the Company started consolidating CCFPI’s financial results in its financial statements. Summarised financial information of CCFPI is disclose in Note 26 of the consolidated financial statements as part of the Asia Segment.

The changes in the Coca-Cola FEMSA’s non-controlling interest were as follows:


	2017			2016			2015
Balance at beginning of the year		Ps.7,096			Ps.3,986			Ps. 4,401
Efects of business combination		11,072			—			—
Net income of non controlling interest		1,148			457			94
Exchange differences on translation of foreign operations		(1,138	)		1,845			(554	)
Remeasurements of the net defined employee benefit liability		38			—			6
Valuation of the effective portion of derivative financial instruments, net of taxes		(74	)		51			50
Increase in shares of non-controlling interest		—			826			—
Dividends paid		(1	)		(69	)		(11	)

Balance at end of the year		Ps.18,141			Ps.7,096			Ps.3,986