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Post-Employment and Other Non-current Employee Benefits (Tables)

12 Months Ended

Dec. 31, 2020

Disclosure of defined benefit plans [abstract]

Summary of Long-term Assumptions

In Mexico, actuarial calculations for pension and retirement plans and seniority premiums, as well as the associated cost for the period, were determined using the following long-term assumptions:

Mexico			2020			2019			2018
Financial:
Discount rate used to calculate the defined benefit obligation and the net interest on de net defined benefit liability (asset)			7.2		%	7.5		%	9.4		%
Salary increase: (Non-Union/Union)			4.5		%	4.5		%	4.6		%
Future pension increase			3.5		%	3.5		%	3.6		%
Biometric:
Mortality			EMSSA 2009 (1)			EMSSA 2009 (1)			EMSSA 2009 (1)
Disability			IMSS 97 (2)			IMSS-97 (2)			IMSS-97 (2)
Normal retirement age			60 years			60 years			60 years
Rest of employee turnover			BMAR2007 (3)			BMAR2007 (3)			BMAR2007 (3)

(1)     EMSSA. Mexican Experience of Social Security (for its initials in Spanish)

(2)      IMSS. Mexican Experience of Instituto Mexicano del Seguro Social (for its initials in Spanish)

(3)     BMAR. Actuary experience

Summary of Defined Benefit Plan Expected Future Benefit Payments

Based on these assumptions, the amounts of benefits expected to be paid out in the following years are as follows:

			Pension and Retirement Plans			Seniority Premiums
2021			Ps. 305			Ps. 66
2022			173			59
2023			226			61
2024			247			63
2025			289			67
2026 to 2030			1,854			176

Balances of Liabilities for Post-employment and Other Non-current Employee Benefits

Balances of the liabilities for post-employment and other non-current employee benefits  

			2020			2019
Pension and Retirement Plans:
Vested benefit obligation			Ps. 996			Ps. 627
Non-vested benefit obligation			1,644			1,421
Accumulated benefit obligation			2,640			2,048
Excess of projected defined benefit obligation over accumulated benefit obligation			1,671			1,864
Defined benefit obligation			4,311			3,912
Pension plan funds at fair value			(1,201)			(1,122)
Net defined benefit liability			Ps. 3,110			Ps. 2,790
Seniority Premiums:
Vested benefit obligation			Ps. 307			Ps. 214
Non-vested benefit obligation			224			133
Accumulated benefit obligation			531			347
Excess of projected defined benefit obligation over accumulated benefit obligation			334			283
Defined benefit obligation			865			630
Seniority premium plan funds at fair value			(137)			(127)
Net defined benefit liability			Ps. 728			Ps. 503
Total post-employment and other non-current employee benefits			Ps. 3,838			Ps. 3,293

Summary of Trust Assets

Trust assets consist of fixed and variable return financial instruments recorded at market value, which are invested as follows:

Type of instrument			2020			2019
Fixed return:
Traded securities			18		%	18		%
Life annuities			18		%	20		%
Bank instruments			17		%	9		%
Federal government instruments			27		%	35		%
Variable return:
Publicly traded shares			20		%	18		%
			100		%	100		%

Summary of Amounts and Types of Securities in Related Parties Included in Portfolio Fund

In Mexico, the amounts and types of securities of the Company and related parties included in portfolio fund are as follows:

			2020			2019
Mexico
Portfolio:
Debt:
Grupo Industrial Bimbo, S.A.B. de C. V.			Ps. 28			Ps. 26
Grupo Financiero Banorte, S.A.B. de C.V.			9			8
Capital:
Fomento Económico Mexicano, S.A.B. de C.V.			3			2
El Puerto de Liverpool, S.A.B. de C.V.			—			2
Alfa, S.A.B. de C.V.			—			3

Summary of Amount Recognized in Consolidated Income Statements and Consolidated Statements of Comprehensive Income

Amounts recognized in the consolidated income statements and the consolidated statements of equity

Income statement

Accumulated OCI

2020

Current Service Cost

Past Service Cost

(Gain) or Loss on Settlement or curtailment

Net Interest on the Net Defined Benefit Liability

Remeasurements of the Net Defined Benefit Liability net of taxes

Pension and retirement plans

Ps. 229

Ps. 71

Ps. —

Ps. 188

Ps. 934

Seniority premiums

68

—

—

43

239

Total

Ps. 297

Ps. 71

Ps. —

Ps. 231

Ps. 1,173

Income statement

Accumulated OCI

2019

Current Service Cost

Past Service Cost

(Gain) or Loss on Settlement or curtailment

Net Interest on the Net Defined Benefit Liability

Remeasurements of the Net Defined Benefit Liability net of taxes

Pension and retirement plans

Ps. 170

Ps. (44)

Ps. 2

Ps. 176

Ps. 790

Seniority premiums

35

76

—

24

65

Total

Ps. 205

Ps. 32

Ps. 2

Ps. 200

Ps. 855

Income statement

Accumulated OCI

2018

Current Service Cost

Past Service Cost

(Gain) or Loss on Settlement or curtailment

Net Interest on the Net Defined Benefit Liability

Remeasurements of the Net Defined Benefit Liability net of taxes

Pension and retirement plans

Ps. 195

Ps. —

Ps. (5)

Ps. 265

Ps. 370

Seniority premiums

42

—

—

34

(26)

Total

Ps. 237

Ps. —

Ps. (5)

Ps. 299

Ps. 344

Summary of Remeasurements of Net Defined Benefit Liability Recognized in Other Comprehensive Income

Remeasurements of the net defined benefit liability recognized in other comprehensive income are as follows (amounts are net of tax):

			2020			2019			2018
Amount accumulated in other comprehensive income as of the beginning of the periods			Ps. 855			Ps. 344			Ps. 567
Recognized during the year (obligation liability and plan assets)			213			98			100
Actuarial gains and losses arising from changes in financial assumptions			(76)			456			(357)
Actuarial gains and losses arising from changes in demographic assumptions			184			—			—
Acquisitions			—			—			(83)
Foreign exchange rate valuation (gain)			(3)			(43)			(66)
Philippines disposal			—			—			183
Amount accumulated in other comprehensive income as of the end of the period, net of tax			Ps. 1,173			Ps. 855			Ps. 344

Summary of Changes in the Balance of the Defined Benefit Obligation for Post-employment

Changes in the balance of the defined benefit obligation for post-employment and other non-current employee benefits

			2020			2019			2018
Pension and Retirement Plans:
Initial balance			Ps. 3,912			Ps. 3,388			Ps. 4,369
Current service cost			229			170			195
Effect on curtailment			—			2			(5)
Interest expense			269			275			265
Actuarial gains or losses			257			585			(391)
Foreign exchange loss			28			(69)			(86)
Benefits paid			(455)			(395)			(265)
Acquisitions			—			—			417
Philippines disposal			—			—			(1,111)
Past service credit			71			(44)			—
			Ps. 4,311			Ps. 3,912			Ps. 3,388
Seniority Premiums:
Initial balance			Ps. 630			Ps. 411			Ps. 461
Current service cost			68			35			42
Interest expense			53			37			34
Actuarial gains or losses			187			155			(84)
Benefits paid			(73)			(84)			(42)
Past service cost			—			76			—
			Ps. 865			Ps. 630			Ps. 411

Summary of Changes in the Balance of Plan Assets

Changes in the balance of trust assets

			2020			2019			2018
Pension and retirement plans:
Balance at beginning of year			Ps. 1,122			Ps. 1,031			Ps. 1,692
Actual return on trust assets			75			81			30
Foreign exchange gain			4			2			(2)
Life annuities			—			8			16
Benefits paid			—			—			(1)
Philippines disposal			—			—			(704)
Balance at end of year			Ps. 1,201			Ps. 1,122			Ps. 1,031
Seniority premiums
Balance at beginning of year			Ps. 127			Ps. 111			Ps. 109
Actual return on trust assets			10			16			2
Balance at end of year			Ps. 137			Ps. 127			Ps. 111

Summary of Amount of Defined Benefit Plan Expense and OCI Impact in Absolute Terms of Variation on Net Defined Benefit Liability

The following table presents the impact in absolute terms of a variation of 1.0% in the assumptions on the net defined benefit liability associated with the Company’s defined benefit plans. The sensitivity of this 1.0% on the significant actuarial assumptions is based on projected long-term discount rates for Mexico and a yield curve projections of long-term Mexican government bonds - CETES:

+1.0%:

Income Statement

Accumulated OCI

Discount rate used to calculate the defined benefit obligation and the net interest on the net defined benefit liability (asset)

Current Service Cost

Past Service Cost

Gain or Loss on Settlement or curtailment

Net Interest on the Net Defined Benefit Liability

Remeasurements of the Net Defined Benefit Liability

Pension and retirement plans

Ps. 195

Ps. 68

Ps. —

Ps. 148

Ps. 1,055

Seniority premiums

64

—

—

36

272

Total

Ps. 259

Ps. 68

Ps. —

Ps. 184

Ps. 1,327

Expected salary increase

Current Service Cost

Past Service Cost

Gain or Loss on Settlement or curtailment

Net Interest on the Net Defined Benefit Liability

Remeasurements of the Net Defined Benefit Liability

Pension and retirement plans

Ps. 233

Ps. 75

Ps. —

Ps. 205

Ps. 1,186

Seniority premiums

69

—

—

44

324

Total

Ps. 302

Ps. 75

Ps. —

Ps. 249

Ps. 1,510

Summary of Employee Benefit Expenses Recognized in Consolidated Income Statements

For the years ended December 31, 2020, 2019 and 2018, employee benefits expenses recognized in the consolidated income statements are as follows:

			2020			2019			2018
Included in cost of goods sold:
Wages and salaries			Ps. 3,955			Ps. 4,052			Ps. 4,295
Social security costs			1,251			1,277			1,320
Employee profit sharing			89			79			74
Pension and seniority premium costs (Note 17.4)			69			34			26
Share-based payment expense (Note 18.2)			4			1			3
Included in selling and distribution expenses:
Wages and salaries			15,620			16,068			16,590
Social security costs			4,587			4,717			4,651
Employee profit sharing			551			539			496
Pension and seniority premium costs (Note 17.4)			261			185			158
Share-based payment expense (Note 18.2)			20			2			11
Included in administrative expenses:
Wages and salaries			2,448			2,742			2,771
Social security costs			541			625			557
Employee profit sharing			33			35			31
Pension and seniority premium costs (Note 17.4)			38			20			46
Post-employment benefits other (Note 17.4)			—			—			2
Share-based payment expense (Note 18.2)			166			185			143
Total employee benefits expense			Ps. 29,633			Ps. 30,561			Ps. 31,174

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