XML 36 R19.htm IDEA: XBRL DOCUMENT
v3.25.1

Intangible Assets | 12 Months Ended
--- | ---
Dec. 31, 2024
Disclosure of detailed information about intangible assets [abstract] |
Intangible Assets | Intangible Assets
| Rights to Produce and Distribute Coca-Cola trademark Products | Goodwill | Other indefinite lived intangible assets | Technology costs and management systems | Development systems | Other amortizable | Total
Balance as of January 1, 2022 | Ps. 76,139 | Ps. 22,909 | Ps. 1,192 | Ps. 6,960 | Ps. 375 | Ps. 1,102 | Ps. 108,677
Purchases (1) | — | — | — | 46 | 1,138 | 4 | 1,188
Additions from business combinations | 1,116 | 205 | — | 17 | — | — | 1,338
Transfer | — | — | — | 65 | (158) | 93 | —
Disposals | — | — | — | (775) | — | — | (775)
Effect of movements in exchange rates | (756) | 144 | (150) | (51) | (13) | (70) | (896)
Changes in value on the recognition of inflation effects | — | — | — | — | — | 80 | 80
Cost as of December 31, 2022 | Ps. 76,499 | Ps. 23,258 | Ps. 1,042 | Ps. 6,262 | Ps. 1,342 | Ps. 1,209 | Ps. 109,612
Balance as of January 1, 2023 | Ps. 76,499 | Ps. 23,258 | Ps. 1,042 | Ps. 6,262 | Ps. 1,342 | Ps. 1,209 | Ps. 109,612
Purchases (1) | — | — | 4 | 385 | 963 | 25 | 1,377
Transfer | (224) | — | 224 | 307 | (708) | 401 | —
Disposals | — | (2) | — | (1) | — | (61) | (64)
Effect of movements in exchange rates | (1,568) | (916) | 44 | (77) | (30) | (158) | (2,705)
Changes in value on the recognition of inflation effects | — | — | — | — | — | 70 | 70
Cost as of December 31, 2023 | Ps. 74,707 | Ps. 22,340 | Ps. 1,314 | Ps. 6,876 | Ps. 1,567 | Ps. 1,486 | Ps. 108,290
Balance as of January 1, 2024 | Ps. 74,707 | Ps. 22,340 | Ps. 1,314 | Ps. 6,876 | Ps. 1,567 | Ps. 1,486 | Ps. 108,290
Purchases (1) | — | — | 30 | 223 | 1,224 | 628 | 2,105
Transfer | — | — | — | 637 | (835) | 198 | —
Disposals | — | — | (50) | (21) | — | — | (71)
Effect of movements in exchange rates | (85) | (328) | 15 | 39 | 3 | 25 | (331)
Changes in value on the recognition of inflation effects (2) | — | — | — | 256 | (5) | (118) | 133
Cost as of December 31, 2024 | Ps. 74,622 | Ps. 22,012 | Ps. 1,309 | Ps. 8,010 | Ps. 1,954 | Ps. 2,219 | Ps. 110,126
| Rights to Produce and Distribute Coca-Cola trademark Products | Goodwill | Other indefinite lived intangible assets | Technology costs and management systems | Development systems | Other amortizable | Total
Accumulated amortization |  |  |  |  |  |  |
Balance as of January 1, 2022 | Ps. (745) | Ps. — | Ps. — | Ps. (4,946) | Ps. — | Ps. (812) | Ps. (6,503)
Amortization expense | — | — | — | (522) | — | (246) | (768)
Disposals | — | — | — | 775 | — | — | 775
Effect of movements in exchange rate | — | — | — | 96 | — | 5 | 101
Changes in value on the recognition of inflation effects | — | — | — | (94) | — | (1) | (95)
Balance as of December 31, 2022 | Ps. (745) | Ps. — | Ps. — | Ps. (4,691) | Ps. — | Ps. (1,054) | Ps. (6,490)
Amortization expense | — | — | — | (518) | — | (318) | (836)
Disposals | — | — | — | — | — | 59 | 59
Effect of movements in exchange rate | — | — | — | 205 | — | 12 | 217
Changes in value on the recognition of inflation effects | — | — | — | (78) | — | — | (78)
Balance as of December 31, 2023 | Ps. (745) | Ps. — | Ps. — | Ps. (5,082) | Ps. — | Ps. (1,301) | Ps. (7,128)
Amortization expense | — | — | — | (778) | — | (207) | (985)
Disposals | — | — | — | 21 | — | — | 21
Effect of movements in exchange rate | — | — | — | (68) | — | 39 | (29)
Changes in value on the recognition of inflation effects - amortization | — | — | — | (129) | — | — | (129)
Balance as of December 31, 2024 | Ps. (745) | Ps. — | Ps. — | Ps. (6,036) | Ps. — | Ps. (1,469) | Ps. (8,250)
Balance as of December 31, 2022 | Ps. 75,754 | Ps. 23,258 | Ps. 1,042 | Ps. 1,571 | Ps. 1,342 | Ps. 155 | Ps. 103,122
Balance as of December 31, 2023 | Ps. 73,962 | Ps. 22,340 | Ps. 1,314 | Ps. 1,794 | Ps. 1,567 | Ps. 185 | Ps. 101,162
Balance as of December 31, 2024 | Ps. 73,877 | Ps. 22,012 | Ps. 1,309 | Ps. 1,974 | Ps. 1,954 | Ps. 750 | Ps. 101,876
The Company’s intangible assets such as technology costs and management systems are subject to amortization with a range in useful lives from 3 to 12 years. For the year ended December 31, 2024, the amortization of intangible assets is recognized in cost of goods sold, selling expenses and administrative expenses and amounted to Ps. 17, Ps.147 and Ps. 821, respectively. For the year ended December 31, 2023, the amortization of intangible assets is recognized in cost of goods sold, selling expenses and administrative expenses and amounted to Ps. 12, Ps.93 and Ps.731, respectively. For the year ended December 31, 2022, the amortization of intangible assets is recognized in cost of goods sold, selling expenses and administrative expenses and amounted to Ps. 13, Ps.84 and Ps.671, respectively. (1) Total includes Ps. 257, Ps. 359 and Ps. 209 outstanding payment to suppliers, as of December 31, 2024, 2023 and 2022 respectively. (2) Until closing of 2023, the changes in value on the recognition of inflation effects were recognized in other amortizable. Starting in 2024, it is correctly assigned to the corresponding asset, therefore, the accumulated effect that had in other amortizable and that corresponded to technology costs and management systems is reversed. The net effect of inflation on total assets does not change. Impairment Tests for Cash-Generating Units Containing Goodwill, Distribution Rights and Other indefinite lived intangible assets For the purpose of impairment testing, goodwill, distribution rights, and other indefinite lived intangible assets are allocated and monitored on an individual country basis, which is considered to be the CGU. The aggregate carrying amounts of goodwill, distribution rights, and other indefinite lived intangible assets allocated to each CGU are as follows:
| 2024 | 2023
Mexico | Ps. 57,689 | Ps. 56,662
Guatemala | 1,695 | 1,684
Nicaragua | 404 | 404
Costa Rica | 1,439 | 1,418
Panama | 1,170 | 1,169
Colombia | 3,638 | 3,635
Brazil | 28,199 | 30,018
Argentina | 512 | 245
Uruguay | 2,452 | 2,381
Total | Ps. 97,198 | Ps. 97,616
The foregoing forecasts were projected based on actual operating results and the five- year business plan that reflect the most likely outcomes based on the current conditions of each Cash-Generating Unit (“CGU”), including macroeconomic factors. However, these forecasts may differ from actual results as time progresses. The value in use of CGUs is determined using discounted cash flows, with key assumptions including volume, long-term inflation, and the weighted average cost of capital (“WACC”). The discount rate, calculated using the WACC for each CGU, incorporates market risks, time value of money, and specific asset risks not captured in the cash flows. The WACC considers both debt and equity costs, with the cost of equity based on investor returns and the cost of debt reflecting the Company’s obligations. Market participant assumptions, including growth rates and competitive positioning, are used to estimate future performance. The key assumptions by CGU for impairment test as of December 31, 2024 were as follows:
CGU | Pre-tax WACC | Post –tax WACC | Expected Annual Long-Term Inflation 2025-2029 | Expected Volume Growth Rates 2025-2029
Mexico | 9.0 | % | 6.3 | % | 4.1 | % | 5.4 | %
Brazil | 10.9 | % | 6.8 | % | 3.6 | % | 4.1 | %
Colombia | 12.0 | % | 7.9 | % | 3.1 | % | 6.6 | %
Argentina | 16.0 | % | 12.0 | % | 35.1 | % | 4.5 | %
Guatemala | 9.5 | % | 7.2 | % | 4.0 | % | 11.9 | %
Costa Rica | 12.0 | % | 8.5 | % | 2.8 | % | 6.6 | %
Nicaragua | 23.0 | % | 13.1 | % | 3.5 | % | 6.5 | %
Panama | 11.7 | % | 9.1 | % | 1.8 | % | 6.3 | %
Uruguay | 9.5 | % | 7.1 | % | 5.1 | % | 4.2 | %
The key assumptions by CGU for impairment test as of December 31, 2023 were as follows:
CGU | Pre-tax WACC | Post –tax WACC | Expected Annual Long-Term Inflation 2024-2028 | Expected Volume Growth Rates 2024-2028
Mexico | 9.0 | % | 6.3 | % | 4.3 | % | 4.4 | %
Brazil | 10.1 | % | 6.8 | % | 3.8 | % | 3.8 | %
Colombia | 12.2 | % | 7.7 | % | 4.2 | % | 6.8 | %
Argentina | 20.8 | % | 16.1 | % | 70.8 | % | 4.8 | %
Guatemala | 9.3 | % | 7.3 | % | 4.0 | % | 14.9 | %
Costa Rica | 11.4 | % | 8.8 | % | 2.9 | % | 6.6 | %
Nicaragua | 23.3 | % | 16.4 | % | 2.6 | % | 6.5 | %
Panama | 11.6 | % | 8.6 | % | 2.0 | % | 7.8 | %
Uruguay | 9.7 | % | 7.4 | % | 5.7 | % | 3.7 | %
Sensitivity to Changes in Assumptions As of December 31, 2024, the Company performed impairment sensitivity calculation, taking into account an adverse change in post-tax WACC, according to the country risk premium, using for each country the relative standard deviation between equity and sovereign bonds and an additional sensitivity to the volume of 100 basis points and concluded that no impairment would be recorded. Goodwill, Distribution Rights and Other in definite lived intangible assets
CGU | Change in WACC | Change in Volume Growth CAGR(1) | Effect on Valuation
Mexico | +0.4p.p | -1.0% | Passes by 5.0x
Brazil | +0.5p.p | -1.0% | Passes by 1.9x
Colombia | +0.7p.p | -1.0% | Passes by 2.5x
Argentina | +1.7p.p | -1.0% | Passes by 5.0x
Guatemala | +0.5p.p | -1.0% | Passes by 7.3x
Costa Rica | +0.5p.p | -1.0% | Passes by 3.9x
Nicaragua | +1.7p.p | -1.0% | Passes by 1.1x
Panama | +0.6p.p | -1.0% | Passes by 3.6x
Uruguay | +0.1p.p | -1.0% | Passes by 3.0x
(1) Compound Annual Growth Rate (“CAGR”) The values assigned to the key assumptions represent management’s assessment of future trends in the industry and are based on both external sources and internal sources (historical data). The Company consistently applied its methodology to determine CGU specific WACC’s to perform its annual impairment testing.

X
- References No definition available. + Details
Name: | ifrs-full_DisclosureOfIntangibleAssetsAbstract
Namespace Prefix: | ifrs-full_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 38 -IssueDate 2024-01-01 -Section Disclosure -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=38&code=ifrs-tx-2024-en-r&doctype=Standard&dita_xref=IAS38_g118-128_TI -URIDate 2024-03-27 + Details
Name: | ifrs-full_DisclosureOfIntangibleAssetsExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | dtr-2022:textBlockItemType
Balance Type: | na
Period Type: | duration