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Earnings per Share | 12 Months Ended
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Dec. 31, 2018
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Earnings per Share | Note 23. Earnings per Share Basic earnings per share amounts are calculated by dividing consolidated net income for the year attributable to controlling interest by the weighted average number of shares outstanding during the period adjusted for the weighted average of own shares purchased in the period. Diluted earnings per share amounts are calculated by dividing consolidated net income for the year attributable to equity holders of the parent by the weighted average number of shares outstanding during the period plus the weighted average number of shares for the effects of dilutive potential shares (originated by the Company’s commitment to capitalize 27.9 million KOF series L shares described in Note 4.1.2). On January 31, 2019, the Board of Coca Cola FEMSA approved:
| (i) | An eight-for-one stock split (the “Stock Split”) of each series of shares of the Company;
| (ii) | The issuance of Series B ordinary shares with full voting rights;
| (iii) | The creation of units, comprised of 3 Series B shares and 5 Series L shares, to be listed for trading on the Mexican Stock Exchange (“BMV”) and in the form of American depositary shares (ADSs) on the New York Stock Exchange (“NYSE”); and
| (iv) | Amendments to the Company’s bylaws mainly to give effect to the matters approved in paragraphs (i), (ii), and (iii), described above.
On March 22, 2019, the CNBV (Mexican National Banking and Securities Commission) approved and authorized the stock split. As a result, (i) the percentage of ownership held by the Company’s shareholders will not change, and (ii) the percentage of ordinary shares with full voting rights will be adjusted proportionally due to the issuance of the Series B shares, as set forth in the table below. The capital stock of the Company prior to and immediately after the Stock Split is as follows: Outstanding shares prior to the Stock Split:
Series of shares |  | Shareholders |  | Outstanding shares |  |  | % of the capital stock |  |  | % of ordinary shares with full voting rights |
A |  | Wholly-owned subsidiary of Fomento Económico Mexicano, S.A.B. de C.V. |  |  | 992,078,519 |  |  |  | 47.223 | % |  |  | 62.964 | %
D |  | Wholly-owned subsidiaries of The Coca-Cola Company |  |  | 583,545,678 |  |  |  | 27.777 | % |  |  | 37.036 | %
L |  | Public float |  |  | 525,208,065 |  |  |  | 25.0 | % |  |  | 0 | %
Total |  |  |  |  | 2,100,832,262 |  |  |  | 100 | % |  |  | 100 | %
Outstanding shares after the Stock Split:
Series of shares |  | Shareholders |  | Outstanding shares |  |  | % of the capital stock |  |  | % of ordinary shares with full voting rights |
A |  | Wholly-owned subsidiary of Fomento Económico Mexicano, S.A.B. de C.V. |  |  | 7,936,628,152 |  |  |  | 47.223 | % |  |  | 55.968 | %
D |  | Wholly-owned subsidiaries of The Coca-Cola Company |  |  | 4,668,365,424 |  |  |  | 27.777 | % |  |  | 32.921 | %
B |  | Public float |  |  | 1,575,624,195 |  |  |  | 9.375 | % |  |  | 11.111 | %
L |  | Public float |  |  | 2,626,040,325 |  |  |  | 15.625 | % |  |  | 0 | %
Total |  |  |  |  | 16,806,658,096 |  |  |  | 100 | % |  |  | 100 | %
The earnings per share for the years ended December 31st 2018, 2017 and 2016 have been adjusted retrospectively for comparative purposes based on the number of shares resulting from the stock split. Earnings amounts per share type are as follows:
|  | 2018 |
|  | Per series |  |  | Per series |  |  | Per series |  |  | Per series |
|  | “A” shares |  |  | “D” shares |  |  | “B” shares |  |  | “L” shares |
Consolidated net income |  | Ps. | 7,116 |  |  | Ps. | 4,186 |  |  | Ps. | 1,413 |  |  | Ps. | 2,355 |
Consolidated net income attributable to equity holders of the parent-continuing operations |  |  | 5,164 |  |  |  | 3,038 |  |  |  | 1,025 |  |  |  | 1,709 |
Consolidated net income attributable to equity holders of the parent-discontinued operation |  |  | 1,405 |  |  |  | 826 |  |  |  | 279 |  |  |  | 465 |
Weighted average number of shares for basic earnings per share (millions of shares) |  |  | 7,937 |  |  |  | 4,668 |  |  |  | 1,576 |  |  |  | 2,626 |
|  | 2017 |
|  | Per series |  |  | Per series |  |  | Per series |  |  | Per series |
|  | “A” shares |  |  | “D” shares |  |  | “B” shares |  |  | “L” shares |
Consolidated net loss |  | Ps. | (5,519 | ) |  | Ps. | (3,247 | ) |  | Ps. | (1,083 | ) |  | Ps. | (1,805 | )
Consolidated net loss attributable to equity holders of the parent-continuing operations |  |  | (7,606 | ) |  |  | (4,474 | ) |  |  | (1,492 | ) |  |  | (2,486 | )
Consolidated net income attributable to equity holders of the parent-discontinued operation |  |  | 1,542 |  |  |  | 907 |  |  |  | 303 |  |  |  | 504 |
Weighted average number of shares for basic earnings per share (millions of shares) |  |  | 7,937 |  |  |  | 4,668 |  |  |  | 1,557 |  |  |  | 2,595 |
|  | 2016 |
|  | Per series |  |  | Per series |  |  | Per series |  |  | Per series |
|  | “A” shares |  |  | “D” shares |  |  | “B” shares |  |  | “L” shares |
Consolidated net income |  | Ps. | 5,038 |  |  | Ps. | 2,963 |  |  | Ps. | 950 |  |  | Ps. | 1,576 |
Consolidated net loss attributable to equity holders of the parent-continuing operations |  |  | 4,819 |  |  |  | 2,835 |  |  |  | 906 |  |  |  | 1,510 |
Weighted average number of shares adjusted for the effect of dilution (Shares outstanding) (1) |  |  | 7,937 |  |  |  | 4,668 |  |  |  | 1,492 |  |  |  | 2,486 |
(1) | Includes the diluted effect associated to the commitment to deliver 27.9 million of KOF L shares.

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