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Bank Loans and Notes Payables (Tables) | 12 Months Ended
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Dec. 31, 2021
Disclosure of detailed information about borrowings [abstract] |
Summary of Detailed Information About Borrowings |
Expressed in millions of mexican pesos. (1) | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 and following years | Carrying value as of December 31, 2021 | Fair value as of December 31, 2021 | Carrying value as of December 31, 2020
Short- term debt:
Fixed rate debt: |  |  |  |  |  |  |  |  |
Argentine pesos |  |  |  |  |  |  |  |  |
Bank loans | 461 | — | — | — | — | — | 461 | 461 | 711
Interest rate | 41.02% | — | — | — | — | — | 41.02% |  | 44.73%
Uruguayan pesos |  |  |  |  |  |  |  |  |
Bank loans | 184 | — | — | — | — | — | 184 | 184 | 498
Interest rate | 6.00% | — | — | — | — | — | 6.00% |  | 15.13%
Subtotal | 645 | — | — | — | — | — | 645 | 645 | 1,209
Variable rate debt: |  |  |  |  |  |  |  |  |
Colombian pesos |  |  |  |  |  |  |  |  |
Bank loans | — | — | — | — | — | — | — | — | 436
Interest rate | — | — | — | — | — | — | — |  | 3.08%
Subtotal | — | — | — | — | — | — | — | — | 436
Short- term debt | 645 | — | — | — | — | — | 645 | 645 | 1,645
Long term debt:
Fixed rate debt: |  |  |  |  |  |  |  |  |
U.S. Dollar |  |  |  |  |  |  |  |  |
Yankee bond | — | — | — | — | — | 52,255 | 52,255 | 56,147 | 50,598
Interest rate | — | — | — | — | — | 3.09% | 3.09% |  | 3.09%
Mexican pesos |  |  |  |  |  |  |  |  |
Senior notes | — | 7,498 | — | — | — | 18,449 | 25,947 | 24,722 | 21,483
Interest rate | — | 5.46% | — | — | — | 7.59% | 6.97% |  | 7.00%
Brazilian reais |  |  |  |  |  |  |  |  |
Bank loans | 48 | 28 | 18 | — | — | — | 94 | 94 | 157
Interest rate | 6.00% | 6.40% | 6.62% | — | — | — | 6.24% |  | 6.18%
Uruguayan pesos |  |  |  |  |  |  |  |  |
Bank loans | 256 | 930 | — | — | — | — | 1,186 | 1,186 | 1,031
Interest rate | 8.04% | 6.27% | — | — | — | — | 6.65% |  | 9.72%
Expressed in millions of mexican pesos. (1) | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 and following years | Carrying value as of December 31, 2021 | Fair value as of December 31, 2021 | Carrying value as of December 31, 2020
Subtotal | 304 | 8,456 | 18 | 0 | — | 70,704 | 79,482 | 82,149 | 73,269
Variable rate debt: |  |  |  |  |  |  |  |  |
Mexican pesos |  |  |  |  |  |  |  |  |
Senior notes | 1,499 | — | — | 1,726 | 2,425 | — | 5,650 | 5,540 | 3,181
Interest rate | 5.49% | — | — | 5.32% | 5.29% | — | 5.35% |  | 4.64%
Bank loans | — | — | — | — | — | — | — | — | 9,335
Interest rate | — | — | — | — | — | — | — |  | 5.04%
Brazilian reais |  |  |  |  |  |  |  |  |
Bank loans | 5 | — | — | — | — | — | 5 | 5 | 48
Interest rate | 8.95% | — | — | — | — | — | 8.95% |  | 8.44%
Subtotal | 1,504 | — | — | 1,726 | 2,425 | — | 5,655 | 5,545 | 12,564
Long term debt | 1,808 | 8,456 | 18 | 1,726 | 2,425 | 70,704 | 85,137 | 87,694 | 85,833
Current portion of long term debt | 1,808 | — | — | — | — | — | 1,808 | 1,805 | 3,372
Long- term debt | — | 8,456 | 18 | 1,726 | 2,425 | 70,704 | 83,329 | 85,889 | 82,461
(1)All interest rates shown in this table are weighted average contractual annual rates.
Summary of Interest Expense | For the years ended December 31, 2021, 2020 and 2019, the interest expense related to the bank loans and notes payable is comprised as follows and included in the consolidated income statement under the interest expense caption:
| 2021 | 2020 | 2019
Interest on debts and borrowings | Ps. 4,544 | Ps. 6,228 | Ps. 4,459
Finance charges for employee benefits | 248 | 231 | 200
Derivative instruments (Interest) | 1,097 | 1,174 | 1,946
Finance charges of leases | 101 | 105 | 129
Finance operating charges | 202 | 156 | 170
| Ps. 6,192 | Ps. 7,894 | Ps. 6,904
Summary of Reconciliation of Liabilities Arising From Financing Activities |
|  | Cash flows |  | Non-cash impact |
| Carrying Value at December 31, 2020 | Repayments | Proceeds |  | New leases | Others | Foreign Exchange movement | Translation Effect | Carrying Value at December 31, 2021
Short-term bank loans | Ps. 1,645 | Ps. (1,925) | Ps. 844 |  | Ps. — | Ps. — | Ps. — | Ps. 81 | Ps. 645
Total short-term from financing activities | Ps. 1,645 | Ps. (1,925) | Ps. 844 |  | Ps. — | Ps. — | Ps. — | Ps. 81 | Ps. 645
Long-term bank loans | 10,568 | (9,764) | 947 |  | — | — | — | (467) | 1,284
Long-term notes payable | 75,265 | (2,500) | 9,400 |  | — | — | 1,688 | — | 83,853
Total long-term from financing activities | Ps. 85,833 | Ps. (12,264) | Ps. 10,347 |  | Ps. — | Ps. — | Ps. 1,688 | Ps. (467) | Ps. 85,137
Lease liabilities | Ps. 1,306 | Ps. (629) | Ps. — |  | Ps. 533 | Ps. 340 | Ps. (3) | Ps. (42) | Ps. 1,505
Total from financing activities | Ps. 88,784 | Ps. (14,818) | Ps. 11,191 |  | Ps. 533 | Ps. 340 | Ps. 1,685 | Ps. (428) | Ps. 87,287
|  | Cash flows |  | Non-cash impact |
| Carrying Value at December 31, 2019 | Repayments | Proceeds |  | New leases | Others | Foreign Exchange movement | Translation Effect | Carrying Value at December 31, 2020
Short-term bank loans | Ps. 882 | Ps. (17,641) | Ps. 18,525 |  | Ps. — | Ps. — | Ps. — | Ps. (121) | Ps. 1,645
Short-term notes payable | — | — | — |  | — | — | — | — | —
Total short-term from financing activities | Ps. 882 | Ps. (17,641) | Ps. 18,525 |  | Ps. — | Ps. — | Ps. — | Ps. (121) | Ps. 1,645
Long-term bank loans | 11,576 | (896) | 293 |  | — | — | — | (405) | 10,568
Long-term notes payable | 57,519 | (26,650) | 43,479 |  | — | — | 1,018 | (101) | 75,265
Long-term lease liabilities | — | — | — |  | — | — | — | — | —
Total long-term from financing activities | Ps. 69,095 | Ps. (27,546) | Ps. 43,772 |  | Ps. — | Ps. — | Ps. 1,018 | Ps. (506) | Ps. 85,833
Lease liabilities (1) | Ps. 1,383 | Ps. (573) | Ps. — |  | Ps. 599 | Ps. 33 | Ps. (13) | Ps. (123) | Ps. 1,306
Total from financing activities | Ps. 71,360 | Ps. (45,760) | Ps. 62,297 |  | Ps. 599 | Ps. 33 | Ps. 1,005 | Ps. (750) | Ps. 88,784
(1) Beginning balance as of adoption date; January 1st, 2019

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