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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2024
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, 2024, 2023 and 2022, is as follows:
| 2024 | 2023 | 2022
Current tax expense: |  |  |
Current year | Ps. 9,569 | Ps. 7,604 | Ps. 5,658
Deferred tax expense: |  |  |
Origination and reversal of temporary differences | 394 | (44) | 860
Utilization (benefit) of tax losses recognized | 1,805 | 1,221 | 29
Total deferred tax income expense | 2,199 | 1,177 | 889
Total income tax expense in consolidated net income | Ps. 11,768 | Ps. 8,781 | Ps. 6,547
2024 | Mexico | Foreign | Total
Current tax expense: |  |  |
Current year | Ps. 6,918 | Ps. 2,651 | Ps. 9,569
Deferred tax expense: |  |  |
Origination and reversal of temporary differences | (1) | 395 | 394
Utilization (benefit) of tax losses recognized | 1,019 | 786 | 1,805
Total deferred tax | 1,018 | 1,181 | 2,199
Total income tax expense in consolidated net income | Ps. 7,936 | Ps. 3,832 | Ps. 11,768
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
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: | 2024 | 2023 | 2022
Unrealized loss (gain) on derivative financial instruments | Ps. 693 | Ps. (236) | Ps. (590)
Remeasurements of the net defined benefit liability | (318) | 24 | 173
Total income tax recognized in OCI | Ps. 375 | Ps. (212) | Ps. (417)
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: | 2024 | 2023 | 2022
Unrealized loss (gain) on derivative financial instruments | Ps. 455 | Ps. (241) | Ps. (13)
Comprehensive income to be reclassified to profit or loss in subsequent periods | 455 | (241) | (13)
Remeasurements of the net defined benefit liability | (524) | (153) | (205)
Balance of income tax in AOCI | Ps. (69) | Ps. (394) | Ps. (218)
Schedule of Domestic Tax Rate | A reconciliation between effective income tax rate and Mexican domestic statutory tax rate for the years ended December 31, 2024, 2023 and 2022 follows:
| 2024 | 2023 | 2022
Mexican statutory income tax rate | 30 | % | 30 | % | 30 | %
Income tax from prior years | (0.03) | % | (0.37) | % | 0.19 | %
Income on monetary position for subsidiaries in hyperinflationary economies | 1.19 | % | 2.03 | % | 1.18 | %
Annual inflation tax adjustment | 1.21 | % | 2.08 | % | 5.63 | %
Non-deductible expenses | 2.89 | % | 1.99 | % | 2.17 | %
Income taxed at a rate other than the Mexican statutory rate | 1.28 | % | 1.49 | % | 1.68 | %
Effect of restatement of tax values | (2.85) | % | (3.50) | % | (4.69) | %
Effect of change in statutory rate | (0.03) | % | (0.60) | % | (0.39) | %
Tax loss (recognition) (1) | 0.02 | % | (1.40) | % | (8.50) | %
Other | (1.00) | % | (1.22) | % | (1.89) | %
| 32.68 | % | 30.50 | % | 25.38 | %
(1) During 2022 the Company recognized an amount of Ps. (2,194) 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
| 2024 | 2023 | 2024 | 2023 | 2022
Expected credit losses | Ps. (135) | Ps. (64) | Ps. (70) | Ps. 15 | Ps. (15)
Inventories | 100 | 53 | 58 | 5 | 18
Prepaid expenses | 22 | 20 | 2 | (4) | (32)
Property, plant and equipment, net | (443) | (1,150) | 455 | 314 | (118)
Other assets | 35 | (190) | 203 | 45 | 86
Finite useful lived intangible assets | (121) | (10) | (120) | 1 | 48
Indefinite lived intangible assets | 1,386 | 1,509 | 260 | 591 | 123
Post-employment and other non-current employee benefits | (388) | (438) | 45 | (2) | 15
Derivative financial instruments | (50) | 75 | (126) | 73 | (3)
Contingencies | (607) | (921) | 290 | (96) | (23)
Employee profit sharing payable | (667) | (533) | 134 | 174 | (85)
Tax loss carryforwards | (3,717) | (5,726) | 1,805 | 1,221 | 29
Tax credits to recover (1) | (399) | (726) | 326 | 342 | 327
Cumulative other comprehensive income | (69) | (394) | 375 | (211) | (417)
Liabilities of amortization of goodwill of business acquisition | 5,322 | 5,574 | (252) | (543) | —
Leases liabilities, net | (75) | (43) | (39) | (28) | (37)
Other | (2,086) | (1,486) | (1,147) | (720) | 973
Deferred tax (income) |  |  | Ps. 2,199 | Ps. 1,177 | Ps. 889
Deferred tax, asset | Ps. (6,209) | Ps. (7,771) |  |  |
Deferred tax, liability | 4,317 | 3,321 |  |  |
Deferred income taxes, net | Ps. (1,892) | Ps. (4,450) |  |  |
(1) Corresponds to income tax credits from dividends received from foreign operations to be recovered within the next ten 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:
| 2024 | 2023 | 2022
Balance at beginning of the period | Ps. (4,450) | Ps. (5,136) | Ps. (5,632)
Deferred tax provision for the period | 2,199 | 1,177 | 889
Change in the statutory rate | — | — | (82)
Effects in equity: |  |  |
Unrealized loss (gain) on derivative financial instruments | 693 | (236) | (591)
Cumulative translation effect and inflation adjustment | (16) | (279) | 107
Remeasurements of the net defined benefit liability | (318) | 24 | 173
Balance at end of the period | Ps. (1,892) | Ps. (4,450) | Ps. (5,136)
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
2030 | Ps. 2,872
2031 | 2 |
2032 | 1 |
2033 | 2 |
2034 and thereafter | 31 |
No expiration (Brazil and Colombia) | 8,363 |
| Ps. 11,271
Summary of Changes in Balance of Tax Loss Carryforwards | The changes in the balance of tax loss carryforwards are as follows:
| 2024 | 2023 | 2022
Balance at beginning of the period | Ps. 17,557 | Ps. 22,000 | Ps. 22,129
Increase (1) | 266 | 2,002 | 10,610
Usage of tax losses | (5,939) | (5,685) | (10,706)
Effect of foreign currency exchange rates | (613) | (760) | (33)
Balance at end of the period | Ps. 11,271 | Ps. 17,557 | Ps. 22,000

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