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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2020
Major components of tax expense (income) [abstract] |
Summary of Major Components of Income Tax Expense | The major components of income tax expense for the years ended December 31, 2020, 2019 and 2018 are:
| 2020 | 2019 | 2018
Current tax expense: |  |  |
Current year | Ps. 7,367 | Ps. 6,011 | Ps. 4,763
Deferred tax expense: |  |  |
Origination and reversal of temporary differences | (3,391) | 905 | 1,579
Utilization (benefit) of tax losses recognized | 1,452 | (1,268) | (1,082)
Total deferred tax income expense (benefit) | (1,939) | (363) | 497
Total income tax expense in consolidated net income | Ps. 5,428 | Ps. 5,648 | Ps. 5,260
2020 | Mexico | Foreign | Total
Current tax expense: |  |  |
Current year | Ps. 6,311 | Ps. 1,056 | Ps. 7,367
Deferred tax expense: |  |  |
Origination and reversal of temporary differences | (2,676) | (715) | (3,391)
Utilization (benefit) of tax losses recognized | 1,962 | (510) | 1,452
Total deferred tax (benefit) | (714) | (1,225) | (1,939)
Total income tax expense in consolidated net income | Ps. 5,597 | Ps. (169) | Ps. 5,428
2019 | Mexico | Foreign | Total
Current tax expense: |  |  |
Current year | Ps. 5,123 | Ps. 888 | Ps. 6,011
Deferred tax expense: |  |  |
Origination and reversal of temporary differences | (438) | 1,343 | 905
(Benefit) utilization of tax losses recognized | (1,136) | (132) | (1,268)
Total deferred tax (benefit) | (1,574) | 1,211 | (363)
Total income tax expense in consolidated net income | Ps. 3,549 | Ps. 2,099 | Ps. 5,648
2018 | Mexico | Foreign | Total
Current tax expense: |  |  |
Current year | Ps. 3,545 | Ps. 1,218 | Ps. 4,763
Deferred tax expense: |  |  |
Origination and reversal of temporary differences | (283) | 1,862 | 1,579
(Benefit) utilization of tax losses recognized | (679) | (403) | (1,082)
Total deferred tax (benefit) | (962) | 1,459 | 497
Total income tax expense in consolidated net income | Ps. 2,583 | Ps. 2,677 | Ps. 5,260
Schedule of Recognized in Consolidated Statement of Other Comprehensive Income |
Income tax related to items charged or recognized directly in OCI during the year: | 2020 | 2019 | 2018
Unrealized loss (gain) on cash flow hedges | Ps. 216 | Ps. (373) | Ps. (208)
Remeasurements of the net defined benefit liability | (130) | (192) | 152
Total income tax recognized in OCI | Ps. 86 | Ps. (565) | Ps. (56)
Schedule of Deferred Tax Related to Other Comprehensive Income | Balance of income tax included in Accumulated Other Comprehensive Income (AOCI) as of:
Income tax related to items charged or recognized directly in OCI as of year-end: | 2020 | 2019 | 2018
Unrealized loss (gain) on derivative financial instruments | Ps. (212) | Ps. (481) | Ps. (128)
Comprehensive income to be reclassified to profit or loss in subsequent periods | (212) | (481) | (128)
Re-measurements of the net defined benefit liability | (378) | (240) | (56)
Balance of income tax in AOCI | Ps. (590) | Ps. (721) | Ps. (184)
Schedule of Domestic Tax Rate | A reconciliation between income tax expense and income (loss) before income taxes and share of the profit or loss of associates and joint ventures accounted for using the equity method multiplied by the Mexican domestic statutory tax rate for the years ended December 31, 2020, 2019 and 2018 is as follows:
| 2020 | 2019 | 2018
Mexican statutory income tax rate | 30 | % | 30 | % | 30 | %
Income tax from prior years | (0.38) | % | (2.66) | % | (0.50) | %
(Loss) on monetary position for subsidiaries in hyperinflationary economies | (0.62) | % | (0.50) | % | (0.96) | %
Annual inflation tax adjustment | 0.73 | % | 0.78 | % | (0.32) | %
Non-deductible expenses | 2.49 | % | 3.92 | % | 2.43 | %
Non-taxable income | — | % | — | % | (0.78) | %
Income taxed at a rate other than the Mexican statutory rate | 0.08 | % | 1.28 | % | 1.69 | %
Effect of restatement of tax values | (1.81) | % | (1.47) | % | (3.38) | %
Effect of change in statutory rate | (0.23) | % | (0.52) | % | (0.38) | %
Income tax credits | (10.34) | % | (0.18) | % | (0.13) | %
Tax loss | 13.80 | % | (1.01) | % | 1.04 | %
Other | 0.04 | % | 1.04 | % | 1.89 | %
| 33.76 | % | 30.68 | % | 30.60 | %
Schedule of Deferred Income Tax | An analysis of the temporary differences giving rise to deferred income tax liabilities (assets) is as follows:
| Consolidated Statement of Financial Position as of | Consolidated Income Statement
| 2020 | 2019 | 2020 | 2019 | 2018
Allowance for doubtful accounts | Ps. (64) | Ps. (60) | Ps. (10) | Ps. (18) | Ps. 76
Inventories | 23 | (61) | 72 | (37) | (33)
Prepaid expenses | 26 | 43 | (17) | 41 | (19)
Property, plant and equipment, net | (1,006) | (863) | (90) | 128 | (392)
Rights of use assets | 176 | 197 | (22) | 197 | —
Other assets | (325) | 20 | (389) | 24 | 74
Finite useful lived intangible assets | (128) | 148 | (275) | (78) | 182
Indefinite lived intangible assets | 796 | 1,039 | 140 | 114 | 31
Post-employment and other non-current employee benefits | (381) | (387) | 4 | 65 | (114)
Derivative financial instruments | 74 | (7) | 80 | (12) | (39)
Contingencies | (1,627) | (2,169) | 182 | (94) | 1,146
Employee profit sharing payable | (208) | (201) | (7) | 17 | —
Tax loss carryforwards | (6,915) | (9,224) | 2,342 | (1,268) | (1,082)
Tax credits to recover (1) | (2,594) | (1,855) | (1,629) | (122) | (109)
Cumulative other comprehensive income | (590) | (721) | 86 | 29 | (54)
Liabilities of amortization of goodwill of business acquisition | 6,554 | 7,663 | — | 860 | 1,125
Financial leasing | (211) | (190) | (23) | (190) | —
Other liabilities | (2,269) | (33) | (2,383) | (19) | (295)
Deferred tax (income) |  |  | Ps. (1,939) | Ps. (363) | Ps. 497
Deferred tax, asset | Ps. (11,143) | Ps. (10,432) |  |  |
Deferred tax, liability | 2,474 | 3,771 |  |  |
Deferred income taxes, net | Ps. (8,669) | Ps. (6,661) |  |  |
(1)Corresponds to income tax credits arising from dividends received from foreign subsidiaries to be recovered within the next ten years accordingly to the Mexican Income Tax law as well as effects of the exchange of foreign currencies with Related and Non-Related Parties.
Schedule of Changes in Net Deferred Income Tax Asset | The changes in the balance of the net deferred income tax asset are as follows:
| 2020 | 2019 | 2018
Balance at beginning of the period | Ps. (6,661) | Ps. (5,582) | Ps. (6,298)
Deferred tax provision for the period | (1,939) | (363) | 497
Change in the statutory rate | (42) | (66) | 63
Acquisition of subsidiaries, see Note 4 | — | 57 | (413)
Effects in equity: |  |  |
Unrealized loss (gain) on derivative financial instruments | 216 | (373) | (21)
Cumulative translation adjustment | (392) | (230) | 31
Remeasurements of the net defined benefit liability | (130) | (192) | 152
Inflation adjustment | 279 | 88 | 20
Philippines disposal | — | — | 387
Balance at end of the period | Ps. (8,669) | Ps. (6,661) | Ps. (5,582)
Schedule of Tax Loss Carryforwards |
| Tax Loss Carryforwards amounts in millions
2024 | Ps. 63
2025 | 734
2026 | 1,831
2027 | —
2028 | 2,222
2029 | 3,136
2030 and thereafter | 1,071
No expiration (Brazil) | 12,465
| Ps. 21,522
Summary of Changes in Balance of Tax Loss Carryforwards | The changes in the balance of tax loss carryforwards are as follows:
| 2020 | 2019 | 2018
Balance at beginning of the period | Ps. 28,871 | Ps. 25,879 | Ps. 24,817
Increase | 4,985 | 6,029 | 3,398
Usage of tax losses | (1,986) | (1,854) | (352)
Unused tax losses - 2024 to 2026 | (7,830) | — | —
Effect of foreign currency exchange rates | (2,518) | (1,183) | (1,984)
Balance at end of the period | Ps. 21,522 | Ps. 28,871 | Ps. 25,879

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