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Pensions and Post-Employment Benefits (Tables) | 12 Months Ended
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Dec. 31, 2017
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Schedule Actuarial Results Related to Pension and Other Post Retirement Benefits | For the years ended December 31, 2017, 2016 and 2015, the effects of pension plans and other post-employment benefits are summarized as follows:
|  |  |  |  | Pensions |  |  | Other benefits |  |  | Total |
Net period cost (income): |  |  |  |  | 2017 |  |  | 2016 |  |  | 2015 |  |  | 2017 |  |  | 2016 |  |  | 2015 |  |  | 2017 |  |  | 2016 |  |  | 2015 |
Recorded in operating costs and expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Service cost |  |  | Ps |  |  |  | 221 |  |  |  | 151 |  |  |  | 128 |  |  |  | 33 |  |  |  | 25 |  |  |  | 30 |  |  |  | 254 |  |  |  | 176 |  |  |  | 158 |
Past service cost |  |  |  |  |  |  | (55 | ) |  |  | 8 |  |  |  | 12 |  |  |  | — |  |  |  | — |  |  |  | (20 | ) |  |  | (55 | ) |  |  | 8 |  |  |  | (8 | )
Loss for settlements and curtailments |  |  |  |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (13 | ) |  |  | — |  |  |  | — |  |  |  | (13 | )
|  |  |  |  |  |  | 166 |  |  |  | 159 |  |  |  | 140 |  |  |  | 33 |  |  |  | 25 |  |  |  | (3 | ) |  |  | 199 |  |  |  | 184 |  |  |  | 137 |
Recorded in other financial expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net interest cost |  |  |  |  |  |  | 693 |  |  |  | 711 |  |  |  | 596 |  |  |  | 74 |  |  |  | 57 |  |  |  | 56 |  |  |  | 767 |  |  |  | 768 |  |  |  | 652 |
Recorded in other comprehensive income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Actuarial (gains) losses for the period |  |  |  |  |  |  | 20 |  |  |  | 3,985 |  |  |  | 872 |  |  |  | (23 | ) |  |  | 34 |  |  |  | (124 | ) |  |  | (3 | ) |  |  | 4,019 |  |  |  | 748 |
|  |  | Ps |  |  |  | 879 |  |  |  | 4,855 |  |  |  | 1,608 |  |  |  | 84 |  |  |  | 116 |  |  |  | (71 | ) |  |  | 963 |  |  |  | 4,971 |  |  |  | 1,537 |
Disclosure of Net Defined Benefit Liability (Asset) | The reconciliations of the actuarial benefits obligations, pension plan assets, and liabilities recognized in the statement of financial position as of December 31, 2017 and 2016 are presented as follows:
|  |  |  |  | Pensions |  |  | Other benefits |  |  | Total |
|  |  |  |  | 2017 |  |  | 2016 |  |  | 2017 |  |  | 2016 |  |  | 2017 |  |  | 2016 |
Change in benefits obligation: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Projected benefit obligation at beginning of the period |  |  | Ps |  |  |  | 51,055 |  |  |  | 42,740 |  |  |  | 1,164 |  |  |  | 1,100 |  |  |  | 52,219 |  |  |  | 43,840 |
Service cost |  |  |  |  |  |  | 221 |  |  |  | 151 |  |  |  | 33 |  |  |  | 25 |  |  |  | 254 |  |  |  | 176 |
Interest cost |  |  |  |  |  |  | 1,625 |  |  |  | 1,685 |  |  |  | 76 |  |  |  | 59 |  |  |  | 1,701 |  |  |  | 1,744 |
Actuarial (gains) losses |  |  |  |  |  |  | 727 |  |  |  | 6,263 |  |  |  | (24 | ) |  |  | 35 |  |  |  | 703 |  |  |  | 6,298 |
Additions through business combinations |  |  |  |  |  |  | 2,801 |  |  |  | — |  |  |  | 271 |  |  |  | — |  |  |  | 3,072 |  |  |  | — |
Settlements and curtailments |  |  |  |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (19 | ) |  |  | — |  |  |  | (19 | )
Plan amendments |  |  |  |  |  |  | 15 |  |  |  | 8 |  |  |  | — |  |  |  | — |  |  |  | 15 |  |  |  | 8 |
Benefits paid |  |  |  |  |  |  | (2,920 | ) |  |  | (2,379 | ) |  |  | (81 | ) |  |  | (74 | ) |  |  | (3,001 | ) |  |  | (2,453 | )
Foreign currency translation |  |  |  |  |  |  | 1,386 |  |  |  | 2,587 |  |  |  | (3 | ) |  |  | 38 |  |  |  | 1,383 |  |  |  | 2,625 |
Projected benefit obligation at end of the period |  |  |  |  |  |  | 54,910 |  |  |  | 51,055 |  |  |  | 1,436 |  |  |  | 1,164 |  |  |  | 56,346 |  |  |  | 52,219 |
Change in plan assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fair value of plan assets at beginning of the period |  |  |  |  |  |  | 28,828 |  |  |  | 25,547 |  |  |  | 26 |  |  |  | 24 |  |  |  | 28,854 |  |  |  | 25,571 |
Return on plan assets |  |  |  |  |  |  | 932 |  |  |  | 974 |  |  |  | 2 |  |  |  | 2 |  |  |  | 934 |  |  |  | 976 |
Actuarial (gains) losses for the period |  |  |  |  |  |  | 707 |  |  |  | 2,278 |  |  |  | (1 | ) |  |  | 1 |  |  |  | 706 |  |  |  | 2,279 |
Employer contributions |  |  |  |  |  |  | 1,494 |  |  |  | 1,289 |  |  |  | 81 |  |  |  | 93 |  |  |  | 1,575 |  |  |  | 1,382 |
Additions through business combinations |  |  |  |  |  |  | 2,841 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2,841 |  |  |  | — |
Reduction for disposal of assets |  |  |  |  |  |  | (4 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (4 | ) |  |  | — |
Settlements and curtailments |  |  |  |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (19 | ) |  |  | — |  |  |  | (19 | )
Benefits paid |  |  |  |  |  |  | (2,920 | ) |  |  | (2,379 | ) |  |  | (81 | ) |  |  | (74 | ) |  |  | (3,001 | ) |  |  | (2,453 | )
Foreign currency translation |  |  |  |  |  |  | 787 |  |  |  | 1,119 |  |  |  | 1 |  |  |  | (1 | ) |  |  | 788 |  |  |  | 1,118 |
Fair value of plan assets at end of the period |  |  |  |  |  |  | 32,665 |  |  |  | 28,828 |  |  |  | 28 |  |  |  | 26 |  |  |  | 32,693 |  |  |  | 28,854 |
Amounts recognized in the statements of financial position: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net projected liability recognized in the statement of financial position |  |  | Ps |  |  |  | 22,245 |  |  |  | 22,227 |  |  |  | 1,408 |  |  |  | 1,138 |  |  |  | 23,653 |  |  |  | 23,365 |
Summary of Actuarial (Gains) Losses | For the years 2017, 2016 and 2015, actuarial (gains) losses for the period were generated by the following main factors as follows:
|  |  |  |  | 2017 |  |  | 2016 |  |  | 2015 |
Actuarial (gains) losses due to experience |  |  | Ps |  |  |  | 121 |  |  |  | (511 | ) |  |  | (105 | )
Actuarial (gains) losses due to demographic assumptions |  |  |  |  |  |  | (46 | ) |  |  | (231 | ) |  |  | (153 | )
Actuarial (gains) losses due financial assumptions |  |  |  |  |  |  | (78 | ) |  |  | 4,761 |  |  |  | 1,006 |
|  |  | Ps |  |  |  | (3 | ) |  |  | 4,019 |  |  |  | 748 |
Summary of Plan Assets Measured at Estimated Fair Value | As of December 31, 2017 and 2016, plan assets were measured at their estimated fair value and, based on the hierarchy of fair values, are detailed as follows:
|  |  |  |  | 2017 |  |  |  |  |  | 2016 |
|  |  |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |  |  |  |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Cash |  |  | Ps |  |  |  | 579 |  |  |  | — |  |  |  | 111 |  |  |  | 690 |  |  |  | Ps |  |  |  | 1,075 |  |  |  | 1,024 |  |  |  | — |  |  |  | 2,099 |
Investments in corporate bonds |  |  |  |  |  |  | 144 |  |  |  | 6,067 |  |  |  | 1 |  |  |  | 6,212 |  |  |  |  |  |  |  | 1,050 |  |  |  | 2,617 |  |  |  | — |  |  |  | 3,667 |
Investments in government bonds |  |  |  |  |  |  | 1,701 |  |  |  | 9,407 |  |  |  | — |  |  |  | 11,108 |  |  |  |  |  |  |  | 209 |  |  |  | 10,081 |  |  |  | — |  |  |  | 10,290 |
Total fixed-income securities |  |  |  |  |  |  | 2,424 |  |  |  | 15,474 |  |  |  | 112 |  |  |  | 18,010 |  |  |  |  |  |  |  | 2,334 |  |  |  | 13,722 |  |  |  | — |  |  |  | 16,056 |
Investment in marketable securities |  |  |  |  |  |  | 6,212 |  |  |  | 1,735 |  |  |  | — |  |  |  | 7,947 |  |  |  |  |  |  |  | 2,001 |  |  |  | 5,956 |  |  |  | — |  |  |  | 7,957 |
Other investments and private funds |  |  |  |  |  |  | 991 |  |  |  | 3,279 |  |  |  | 2,466 |  |  |  | 6,736 |  |  |  |  |  |  |  | 770 |  |  |  | 3,478 |  |  |  | 593 |  |  |  | 4,841 |
Total variable-income securities |  |  |  |  |  |  | 7,203 |  |  |  | 5,014 |  |  |  | 2,466 |  |  |  | 14,683 |  |  |  |  |  |  |  | 2,771 |  |  |  | 9,434 |  |  |  | 593 |  |  |  | 12,798 |
Total plan assets |  |  | Ps |  |  |  | 9,627 |  |  |  | 20,488 |  |  |  | 2,578 |  |  |  | 32,693 |  |  |  | Ps |  |  |  | 5,105 |  |  |  | 23,156 |  |  |  | 593 |  |  |  | 28,854 |
Schedule of Estimated Payments for Pensions and Other Post-Employment Benefits | As of December 31, 2017, estimated payments for pensions and other post-employment benefits over the next 10 years were as follows:
|  |  |  |  | 2017 |
2018 |  |  | Ps |  |  |  | 3,071 |
2019 |  |  |  |  |  |  | 2,952 |
2020 |  |  |  |  |  |  | 3,085 |
2021 |  |  |  |  |  |  | 3,080 |
2022 |  |  |  |  |  |  | 3,121 |
2023 – 2027 |  |  |  |  |  |  | 15,868 |
Summary of Significant Assumptions Used in the Determination of the Benefit Obligation | The most significant assumptions used in the determination of the benefit obligation were as follows:
|  | 2017 |  | 2016
|  | Mexico |  |  | United States |  |  | United Kingdom |  |  | Range of rates in other countries |  | Mexico |  |  | United States |  |  | United Kingdom |  |  | Rates ranges in other countries
Discount rates |  |  | 9.3 | % |  |  | 3.9 | % |  |  | 2.4 | % |  | 1.3% – 6.3% |  |  | 9.0 | % |  |  | 4.2 | % |  |  | 2.6 | % |  | 1.1% – 7.0%
Rate of return on plan assets |  |  | 9.3 | % |  |  | 3.9 | % |  |  | 2.4 | % |  | 1.3% – 6.3% |  |  | 9.0 | % |  |  | 4.2 | % |  |  | 2.6 | % |  | 1.1% – 7.0%
Rate of salary increases |  |  | 4.0 | % |  |  | — |  |  |  | 3.2 | % |  | 1.5% – 6.0% |  |  | 4.0 | % |  |  | — |  |  |  | 3.3 | % |  | 1.5% – 6.0%
The increase (decrease) that would have resulted in the PBO of pensions and other post-employment benefits as of December 31, 2017 are shown below:
|  |  |  |  | Pensions |  |  | Other benefits |  |  | Total |
|  |  |  |  | +50 bps |  |  | -50 bps |  |  | +50 bps |  |  | -50 bps |  |  | +50 bps |  |  | -50 bps |
Assumptions: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Discount Rate Sensitivity |  |  | Ps |  |  |  | (4,028 | ) |  |  | 4,426 |  |  |  | (72 | ) |  |  | 83 |  |  |  | (4,100 | ) |  |  | 4,509 |
Salary Increase Rate Sensitivity |  |  |  |  |  |  | 154 |  |  |  | (138 | ) |  |  | 34 |  |  |  | (29 | ) |  |  | 189 |  |  |  | (166 | )
Pension Increase Rate Sensitivity |  |  |  |  |  |  | 2,341 |  |  |  | (2,209 | ) |  |  | — |  |  |  | — |  |  |  | 2,341 |  |  |  | (2,209 | )
Aggregate Projected Benefit Obligation for Pension Plans and Other Post-Employment Benefits and the Plan Assets by Country | As of December 31, 2017 and 2016, the aggregate projected benefit obligation (“PBO”) for pension plans and other post-employment benefits and the plan assets by country were as follows:
|  |  |  |  | 2017 |  |  |  |  |  | 2016 |
|  |  |  |  | PBO |  |  | Assets |  |  | Deficit |  |  |  |  |  | PBO |  |  | Assets |  |  | Deficit |
Mexico |  |  | Ps |  |  |  | 3,213 |  |  |  | 840 |  |  |  | 2,373 |  |  |  | Ps |  |  |  | 3,247 |  |  |  | 824 |  |  |  | 2,423 |
United States |  |  |  |  |  |  | 6,378 |  |  |  | 4,031 |  |  |  | 2,347 |  |  |  |  |  |  |  | 7,110 |  |  |  | 4,192 |  |  |  | 2,918 |
United Kingdom |  |  |  |  |  |  | 35,602 |  |  |  | 23,145 |  |  |  | 12,457 |  |  |  |  |  |  |  | 33,925 |  |  |  | 22,154 |  |  |  | 11,771 |
Germany |  |  |  |  |  |  | 4,362 |  |  |  | 213 |  |  |  | 4,149 |  |  |  |  |  |  |  | 4,429 |  |  |  | 227 |  |  |  | 4,202 |
Other countries |  |  |  |  |  |  | 6,791 |  |  |  | 4,464 |  |  |  | 2,327 |  |  |  |  |  |  |  | 3,508 |  |  |  | 1,457 |  |  |  | 2,051 |
|  |  | Ps |  |  |  | 56,346 |  |  |  | 32,693 |  |  |  | 23,653 |  |  |  | Ps |  |  |  | 52,219 |  |  |  | 28,854 |  |  |  | 23,365 |

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