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Income Taxes (Tables)

12 Months Ended

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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