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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Major components of tax expense (income) [abstract]

Summary of Major Components of Income Tax Expense

The breakdown of the income tax expense by Mexico and Foreign countries for the years ended December 31, 2023, 2022 and 2021, is as follows:

			2023			2022			2021
Current tax expense:
Current year			Ps. 7,604			Ps. 5,658			Ps. 4,259
Deferred tax expense:
Origination and reversal of temporary differences			(44)			860			2,795
(Benefit) utilization of tax losses recognized			1,221			29			(445)
Total deferred tax income expense			1,177			889			2,350
Total income tax expense in consolidated net income			Ps. 8,781			Ps. 6,547			Ps. 6,609
2023			Mexico			Foreign			Total
Current tax expense:
Current year			Ps. 5,474			Ps. 2,130			Ps. 7,604
Deferred tax expense:
Origination and reversal of temporary differences			(322)			278			(44)
Utilization (benefit) of tax losses recognized			238			983			1,221
Total deferred tax			(84)			1,261			1,177
Total income tax expense in consolidated net income			Ps. 5,390			Ps. 3,391			Ps. 8,781
2022			Mexico			Foreign			Total
Current tax expense:
Current year			Ps. 3,522			Ps. 2,136			Ps. 5,658
Deferred tax expense:
Origination and reversal of temporary differences			197			663			860
Utilization (benefit) of tax losses recognized			(4)			33			29
Total deferred tax			193			696			889
Total income tax expense in consolidated net income			Ps. 3,715			Ps. 2,832			Ps. 6,547
2021			Mexico			Foreign			Total
Current tax expense:
Current year			Ps. 3,356			Ps. 903			Ps. 4,259
Deferred tax expense:
Origination and reversal of temporary differences			1,659			1,136			2,795
Utilization (benefit) of tax losses recognized			356			(801)			(445)
Total deferred tax			2,015			335			2,350
Total income tax expense in consolidated net income			Ps. 5,371			Ps. 1,238			Ps. 6,609

Schedule of Recognized in Consolidated Statement of Other Comprehensive Income

Recognized in Consolidated Statement of Other Comprehensive Income (OCI)

Income tax related to items charged or recognized directly in OCI during the year:			2023			2022			2021
Unrealized loss (gain) on cash flow hedges			Ps. (236)			Ps. (590)			Ps. 787
Remeasurements of the net defined benefit liability			24			173			(27)
Total income tax recognized in OCI			Ps. (212)			Ps. (417)			Ps. 760

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:			2023			2022			2021
Unrealized loss (gain) on derivative financial instruments			Ps. (241)			Ps. (13)			Ps. 573
Comprehensive income to be reclassified to profit or loss in subsequent periods			(241)			(13)			573
Re-measurements of the net defined benefit liability			(153)			(205)			(408)
Balance of income tax in AOCI			Ps. (394)			Ps. (218)			Ps. 165

Schedule of Domestic Tax Rate

A reconciliation between effective income tax rate and Mexican domestic statutory tax rate for the years ended December 31, 2023, 2022 and 2021 follows:

			2023			2022			2021
Mexican statutory income tax rate			30		%	30		%	30		%
Income tax from prior years			(0.37)		%	0.19		%	(0.64)		%
Income (loss) on monetary position for subsidiaries in hyperinflationary economies			2.03		%	1.18		%	(0.21)		%
Annual inflation tax adjustment			2.08		%	5.63		%	6.48		%
Non-deductible expenses			1.99		%	2.17		%	1.82		%
Income taxed at a rate other than the Mexican statutory rate			1.49		%	1.68		%	1.14		%
Effect of restatement of tax values			(3.50)		%	(4.69)		%	(2.54)		%
Effect of change in statutory rate			(0.60)		%	(0.39)		%	(0.09)		%
Income tax credits (1)			—		%	—		%	(2.69)		%
Tax loss (recognition) (2)			(1.40)		%	(8.50)		%	(3.57)		%
Other			(1.22)		%	(1.89)		%	(0.78)		%
			30.50		%	25.38		%	28.92		%

(1) Favorable position of Brazilian Courts related to a no taxation on financial effects of recovered tax credits from previously won judicial disputes, which allowed a recognition of a deferred tax credit in Brazil in 2021.

(2) During 2021 and 2022, the Company recognized an amount of Ps. (761) and (2,194), respectively, corresponding to favorable effects for deferred tax assets of the Company's subsidiaries, taking into account that there was certainty of recoverability of such deferred tax assets. In addition, in 2023 an effect of Ps. (409) of deferred tax assets was recognized, for which the company also has certainty of recoverability.

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
			2023			2022			2023			2022			2021
Expected credit losses			Ps. (64)			Ps. (95)			Ps. 15			Ps. (15)			Ps. (34)
Inventories			53			36			5			18			(1)
Prepaid expenses			20			24			(4)			(32)			29
Property, plant and equipment, net			(1,150)			(1,305)			314			(118)			(223)
Other assets			(190)			(257)			45			86			(28)
Finite useful lived intangible assets			(10)			1			1			48			69
Indefinite lived intangible assets			1,509			1,311			591			123			165
Post-employment and other non-current employee benefits			(438)			(444)			(2)			15			(59)
Derivative financial instruments			75			2			73			(3)			(72)
Contingencies			(921)			(895)			(96)			(23)			171
Employee profit sharing payable			(533)			(359)			174			(85)			(236)
Tax loss carryforwards			(5,726)			(7,205)			1,221			29			(445)
Tax credits to recover (1)			(726)			(1,067)			342			327			1,200
Cumulative other comprehensive income			(394)			(218)			(211)			(417)			760
Liabilities of amortization of goodwill of business acquisition			5,574			6,117			(543)			—			87
Leases Liabilities, net			(43)			(14)			(28)			(37)			(15)
Other			(1,486)			(768)			(720)			973			982
Deferred tax (income)									Ps. 1,177			Ps. 889			Ps. 2,350
Deferred tax, asset			Ps. (7,771)			Ps. (7,975)
Deferred tax, liability			3,321			2,839
Deferred income taxes, net			Ps. (4,450)			Ps. (5,136)

(1) Corresponds to income tax credits from dividends received from foreign operations to be recovered within the next four years accordingly to the Mexican Income Tax law.

Schedule of Changes in Net Deferred Income Tax Asset

The changes in the balance of the net deferred income tax assets are as follows:

			2023			2022			2021
Balance at beginning of the period			Ps. (5,136)			Ps. (5,632)			Ps. (8,669)
Deferred tax provision for the period			1,177			889			2,350
Change in the statutory rate			—			(82)			81
Effects in equity:
Unrealized loss (gain) on derivative financial instruments			(236)			(591)			787
Cumulative translation effect			(320)			61			(163)
Remeasurements of the net defined benefit liability			24			173			(27)
Inflation adjustment			41			46			9
Balance at end of the period			Ps. (4,450)			Ps. (5,136)			Ps. (5,632)

Schedule of Tax Loss Carryforwards

The tax loss carryforwards for which a deferred tax asset has been recorded and their corresponding years of expiration are as follows:

			Tax Loss Carryforwards amounts in millions
2029			2,702
2030			3,172
2031			157
2032			597
2033 and thereafter			5
No expiration (Brazil and Colombia)			10,924
			Ps. 17,557

Summary of Changes in Balance of Tax Loss Carryforwards

The changes in the balance of tax loss carryforwards are as follows:

			2023			2022			2021
Balance at beginning of the period			Ps. 22,000			Ps. 22,129			Ps. 21,522
Increase (1)			2,002			10,610			5,768
Usage of tax losses			(5,685)			(10,706)			(4,558)
Effect of foreign currency exchange rates			(760)			(33)			(603)
Balance at end of the period			Ps. 17,557			Ps. 22,000			Ps. 22,129

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