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v3.25.1

Post-Employment and Other Non-current Employee Benefits (Tables) | 12 Months Ended
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Dec. 31, 2024
Disclosure of defined benefit plans [abstract] |
Summary of Long-term Assumptions | In Mexico, actuarial calculations for pension and retirement plans and seniority premiums, as well as the associated cost for the period, were determined using the following long-term assumptions:
Mexico | 2024 | 2023 | 2022
Financial: |  |  |
Discount rate used to calculate the defined benefit obligation and the net interest on the net defined benefit liability (asset) | 10.5 | % | 10.2 | % | 9.9 | %
Salary increase: (Non-Union/Union) | 4.8 | % | 4.8 | % | 4.8 | %
Future pension increase | 3.8 | % | 3.8 | % | 3.8 | %
Biometric: |  |  |
Mortality | EMSSA 2009 (1) | EMSSA 2009 (1) | EMSSA 2009 (1)
Disability | IMSS 97 (2) | IMSS 97 (2) | IMSS 97 (2)
Normal retirement age | 60 years | 60 years | 60 years
Rest of employee turnover | BMAR2007 (3) | BMAR2007 (3) | BMAR2007 (3)
(1) EMSSA. Mexican Experience of Social Security (for its initials in Spanish) (2) IMSS. Mexican Experience of Instituto Mexicano del Seguro Social (for its initials in Spanish) (3) BMAR. Actuary experience
Summary of Defined Benefit Plan Expected Future Benefit Payments | Based on these assumptions, the amounts of benefits expected to be paid out in the following years are as follows:
| Pension and Retirement Plans | Seniority Premiums
2025 | Ps. 455 | Ps. 117
2026 | 237 | 82
2027 | 366 | 92
2028 | 294 | 101
2029 | 320 | 113
2030-2033 | 2,107 | 675
Balances of Liabilities for Post-employment and Other Non-current Employee Benefits | Balances of the liabilities for post-employment and other non-current employee benefits
| 2024 | 2023
Pension and Retirement Plans: |  |
Vested benefit obligation | Ps. 978 | Ps. 653
Non-vested benefit obligation | 2,506 | 2,091
Accumulated benefit obligation | 3,484 | 2,744
Excess of projected defined benefit obligation over accumulated benefit obligation | 1,600 | 1,284
Defined benefit obligation | 5,084 | 4,028
Pension plan funds at fair value | (1,429) | (1,303)
Net defined benefit liability | Ps. 3,655 | Ps. 2,725
Seniority Premiums: |  |
Vested benefit obligation | Ps. 500 | Ps. 320
Non-vested benefit obligation | 445 | 344
Accumulated benefit obligation | 945 | 664
Excess of projected defined benefit obligation over accumulated benefit obligation | 393 | 294
Defined benefit obligation | 1,338 | 958
Seniority premium plan funds at fair value | (126) | (123)
Net defined benefit liability | Ps. 1,212 | Ps. 835
Total post-employment and other non-current employee benefits | Ps. 4,867 | Ps. 3,560
Summary of Trust Assets | Trust assets consist of fixed and variable return financial instruments recorded at fair value, which are invested as follows:
Type of instrument | 2024 | 2023
Fixed return: |  |
Traded securities | 19 | % | 27 | %
Life annuities | 17 | % | 18 | %
Bank instruments | 5 | % | 5 | %
Federal government instruments | 42 | % | 36 | %
Variable return: |  |
Publicly traded shares | 17 | % | 14 | %
| 100 | % | 100 | %
Summary of Amounts Recognized in Consolidated Income Statements and Consolidated Statement of Changes in Equity | Amounts recognized in the consolidated income statements and the consolidated statements of changes in equity
| Consolidated income statement | Accumulated OCI
2024 | Current Service Cost | Past Service Cost | (Gain) or Loss on Settlement or curtailment | Net Interest on the Net Defined Benefit Liability | Remeasurements of the Net Defined Benefit Liability net of taxes
Pension and retirement plans | Ps. 235 | Ps. 93 | Ps. (107) | Ps. 224 | Ps. 1,299
Seniority premiums | 96 | 39 | (8) | 81 | 355
Total | Ps. 331 | Ps. 132 | Ps. (115) | Ps. 305 | Ps. 1,654
| Consolidated Income statement | Accumulated OCI
2023 | Current Service Cost | Past Service Cost | (Gain) or Loss on Settlement or curtailment | Net Interest on the Net Defined Benefit Liability | Remeasurements of the Net Defined Benefit Liability net of taxes
Pension and retirement plans | Ps. 233 | Ps. 155 | Ps. (126) | Ps. 222 | Ps. 625
Seniority premiums | 87 | 8 | (7) | 75 | 122
Total | Ps. 320 | Ps. 163 | Ps. (133) | Ps. 297 | Ps. 747
| Consolidated Income statement | Accumulated OCI
2022 | Current Service Cost | Past Service Cost | (Gain) or Loss on Settlement or curtailment | Net Interest on the Net Defined Benefit Liability | Remeasurements of the Net Defined Benefit Liability net of taxes
Pension and retirement plans | Ps. 246 | Ps. 47 | Ps. (85) | Ps. 141 | Ps. 804
Seniority premiums | 94 | 6 | (9) | 145 | 108
Total | Ps. 340 | Ps. 53 | Ps. (94) | Ps. 286 | Ps. 912
Summary of Remeasurements of Net Defined Benefit Liability Recognized in Other Comprehensive Income | Remeasurements of the net defined benefit liability recognized in other comprehensive income are as follows (amounts are net of tax):
| 2024 | 2023 | 2022
Amount accumulated in other comprehensive income as of the beginning of the periods | Ps. 747 | Ps. 912 | Ps. 1,240
Recognized during the year (obligation liability and plan assets) | 931 | 101 | 124
Actuarial (gains) losses arising from changes in financial assumptions | (185) | (148) | (375)
Actuarial gains arising from changes in demographic assumptions | — | (5) | 1
Foreign exchange rate valuation (gain) loss | 161 | (101) | (78)
Effect on settlement | — | (12) | —
Amount accumulated in other comprehensive income as of the end of the period, net of tax | Ps. 1,654 | Ps. 747 | Ps. 912
Summary of Changes in the Balance of the Defined Benefit Obligation for Post-employment | Changes in the balance of the defined benefit obligation for post-employment and other non-current employee benefits
| 2024 | 2023 | 2022
Pension and Retirement Plans: |  |  |
Balance at beginning of year | Ps. 4,028 | Ps. 4,199 | Ps. 4,515
Current service cost | 235 |  | 233 |  | 246 |
Effect of curtailment | (108) |  | (144) |  | (86) |
Interest expense | 361 |  | 346 |  | 317 |
Actuarial (gains) or losses | 726 |  | (214) |  | (355) |
Foreign exchange (gain) loss | 203 |  | (151) |  | (134) |
Benefits paid | (462) |  | (378) |  | (355) |
Past service cost | 101 |  | 137 |  | 47 |
Business acquisitions | — |  | — |  | 4 |
Balance at end of year | Ps. 5,084 | Ps. 4,028 | Ps. 4,199
Seniority Premiums: |  |  |
Balance at beginning of year | Ps. 958 | Ps. 926 | Ps. 978
Current service cost | 96 |  | 87 |  | 94 |
Effect of curtailment | (8) |  | (14) |  | (9) |
Interest expense | 97 |  | 88 |  | 76 |
Actuarial (gains) or losses | 339 |  | 29 |  | (97) |
Benefits paid | (183) |  | (166) |  | (128) |
Past service cost | 39 |  | 8 |  | 6 |
Business acquisitions | — |  | — |  | 6 |
Balance at end of year | Ps. 1,338 | Ps. 958 | Ps. 926
Summary of Changes in the Balance of Plan Assets | Changes in the balance of trust assets
| 2024 | 2023 | 2022
Pension and retirement plans: |  |  |
Balance at beginning of year | Ps. 1,303 | Ps. 1,288 | Ps. 1,234
Actual return on trust assets | 142 | 41 | 50
Foreign exchange gain | 6 | (4) | —
Life annuities | (22) |  | 9 |  | — |
Benefits paid | — | — | 4
Plan amendments | Ps. — | Ps. (31) | Ps. —
Balance at end of year | Ps. 1,429 | Ps. 1,303 | Ps. 1,288
Seniority premiums |  |  |
Balance at beginning of year | Ps. 123 | Ps. 128 | Ps. 133
Actual return on trust assets | 3 | (5) | (5)
Balance at end of year | Ps. 126 | Ps. 123 | Ps. 128
Summary of Amount of Defined Benefit Plan Expense and OCI Impact in Absolute Terms of Variation on Net Defined Benefit Liability | The following table presents the impact in absolute terms of a variation of 1.0% in the assumptions on the net defined benefit liability associated with the Company’s defined benefit plans for post-employment and other non-current employee benefits. The sensitivity of this 1.0% on the significant actuarial assumptions is based on projected long-term discount rates for Mexico and yield curve projections of long-term Mexican government bonds - CETES:
+1.0% |  |  | Consolidated income statement | Accumulated OCI
Discount rate used to calculate the defined benefit obligation and the net interest on the net defined benefit liability (asset) | Current Service Cost | Past Service Cost | Gain or Loss on Settlement or curtailment | Net Interest on the Net Defined Benefit Liability | Remeasurements of the Net Defined Benefit Liability
Pension and retirement plans | Ps. 218 | Ps. 97 | Ps. (117) | Ps. 187 | Ps. 1,501
Seniority premiums | Ps. 86 | Ps. 36 | Ps. (7) | Ps. 76 | Ps. 440
Total | Ps. 304 | Ps. 133 | Ps. (124) | Ps. 263 | Ps. 1,941
Expected salary increase | Current Service Cost | Past Service Cost | Gain or Loss on Settlement or curtailment | Net Interest on the Net Defined Benefit Liability | Remeasurements of the Net Defined Benefit Liability
Pension and retirement plans | Ps. 252 | Ps. 108 | Ps. (128) | Ps. 250 | Ps. 1,677
Seniority premiums | Ps. 113 | Ps. 41 | Ps. (8) | Ps. 86 | Ps. 486
Total | Ps. 365 | Ps. 149 | Ps. (136) | Ps. 336 | Ps. 2,163
- 1.0% |  |  | Consolidated income statement | Accumulated OCI
Discount rate used to calculate the defined benefit obligation and the net interest on the net defined benefit liability (asset) | Current Service Cost | Past Service Cost | Gain or Loss on Settlement or curtailment | Net Interest on the Net Defined Benefit Liability | Remeasurements of the Net Defined Benefit Liability
Pension and retirement plans | Ps. 211 | Ps. 144 | Ps. (118) | Ps. 173 | Ps. 634
Seniority premiums | Ps. 80 | Ps. 7 | Ps. (6) | Ps. 67 | Ps. 117
Total | Ps. 291 | Ps. 151 | Ps. (124) | Ps. 240 | Ps. 751
Expected salary increase | Current Service Cost | Past Service Cost | Gain or Loss on Settlement or curtailment | Net Interest on the Net Defined Benefit Liability | Remeasurements of the Net Defined Benefit Liability
Pension and retirement plans | Ps. 253 | Ps. 171 | Ps. (134) | Ps. 249 | Ps. 681
Seniority premiums | Ps. 93 | Ps. 9 | Ps. (8) | Ps. 82 | Ps. 143
Total | Ps. 346 | Ps. 180 | Ps. (142) | Ps. 331 | Ps. 824
Summary of Employee Benefit Expenses Recognized in Consolidated Income Statements | For the years ended December 31, 2024, 2023 and 2022, employee benefits expenses recognized in the consolidated income statements are as follows:
| 2024 | 2023 | 2022
Included in cost of goods sold: |  |  |
Wages and salaries | Ps. 6,100 | Ps. 5,204 | Ps. 4,956
Social security costs | 1,989 | 1,628 | 1,522
Employee profit sharing | 242 | 139 | 145
Pension and seniority premium costs (See Note 15.4) | 22 | 24 | 2
Share-based payment expense (See Note 16.2) | 1 | 8 | 6
Included in selling and distribution expenses: |  |  |
Wages and salaries | 23,389 | 20,090 | 18,403
Social security costs | 7,079 | 5,912 | 5,272
Employee profit sharing | 1,315 | 756 | 862
Pension and seniority premium costs (See Note 15.4) | 223 | 232 | 250
Share-based payment expense (See Note 16.2) | 65 |  | —
Included in administrative expenses: |  |  |
Wages and salaries | 4,213 | 3,090 | 3,250
Social security costs | 913 | 750 | 710
Employee profit sharing | 92 | 164 | 62
Pension and seniority premium costs (See Note 15.4) | 65 | 95 | 47
Share-based payment expense (See Note 16.2) | 302 | 311 | 320
Total employee benefits expense | Ps. 46,010 | Ps. 38,403 | Ps. 35,807

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