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Income taxes (Tables)

12 Months Ended

Dec. 31, 2018

Disclosure Of Income Taxes [Abstract]

Summary of Balances of Recoverable Taxes

The balances of recoverable taxes are comprised as follows:

	December 31, 2016		December 31, 2017		December 31, 2018
Recoverable taxes:
IMPAC	Ps.	58,960	Ps.	111,987	Ps.	57,759
ISR		23,420		21,780		40,492
IVA		39,385		30,886		28,729
Tax to cash deposits		1,412		863		343
Business flat tax (IETU)		4,263		3,506		3,399
Withholding taxes		18,157		26,040		22,362
Corporation taxes		—		3,316		66,338
Other		1,083		198		722
	Ps.	146,680	Ps.	198,576	Ps.	220,144

Summary of Income Tax Expense (Benefit)

Income Tax – Income tax expense (benefit) for the years ended at December 31, 2016, 2017 and 2018 consists of the following:

	2016			2017			2018
ISR:
Current	Ps.	1,532,875		Ps.	1,849,551		Ps.	2,117,491
Deferred		(266,302	)		(408,910	)		(248,450	)
	Ps.	1,266,573		Ps.	1,440,641		Ps.	1,869,041

Schedule of Effective Tax Rate

Effective tax rate – The reconciliation of the statutory income tax rate and the actual effective income tax rate as a percentage of income before income taxes for the years ended December 31, 2016, 2017 and 2018 is shown below:

	%			2016			%				2017			%			2018
Income before income taxes				Ps.	4,620,132					Ps.		6,171,722					Ps.	7,007,672
Income tax by applying the weighted average statutory rate (1)		29.5	%		1,362,939			30.0	%			1,851,517			30.0	%		2,102,302
Effects of tax inflation over monetary assets		(0.1	)%		(4,893	)		(7.8	)%			(478,609	)		(3.9	)%		(271,601	)
(Unrecognized) applied tax loss carryforwards		(2.1	%)		(96,635	)		1.0	%			62,975			0.8	%		57,733
Derecognition of deferred tax asset		—			—			1.0	%			63,657			0.9	%		60,115
Loss of goodwill impairment, not deductible		—			—			(0.1	)%			(4,043	)		—			—
Tax rate change in border area		—			—			—				—			0.3	%		19,391
Employee benefits		—			—			(0.2	%)			(12,220	)		0.1	%		(603	)
Cancellation of recoverable tax on assets - undue payments		—			—			(0.1	)%			(7,587	)		(0.8	)%		(54,444	)
Other		0.1	%		5,162			(0.6	)%			(35,049	)		(0.6	)%		(43,852	)
Effective tax rate		27.4	%	Ps.	1,266,573			23.3	%	Ps.		1,440,641			26.7	%	Ps.	1,869,041

(1)	The tax rate used for the 2016, 2017 and 2018 reconciliations above is the average corporate tax rate payable by corporate entities in Mexico, Jamaica and Spain on taxable profits under tax law in these jurisdictions.

Schedule of Net Deferred Income Tax Assets and Net Deferred Income Tax Liability

The net deferred income tax assets are from Mexican subsidiaries:



	December 31, 2016			December 31, 2017			December 31, 2018
Deferred ISR asset (liability):
Allowance for doubtful accounts	Ps.	8,267		Ps.	7,209		Ps.	10,636
Machinery and equipment		31,854			37,645			46,723
Improvements to concession assets		411,620			511,166			567,497
Airport concessions and rights to use airport facilities		4,162,475			4,461,211			4,592,116
Other acquired rights		118,215			130,776			139,268
Derivative financial instruments		(20,446	)		(30,667	)		(39,492	)
Other assets		268			387			445
Tax loss carryforwards		233,965			170,990			113,257
Employee benefits		20,898			27,257			27,805
Accruals		9,469			12,966			14,024
Recoverable tax on assets		94,259			25,342			—
Deferred income tax asset	Ps.	5,070,844		Ps.	5,354,282		Ps.	5,472,279

The net deferred income tax liability corresponds to the subsidiary in Jamaica:

	December 31, 2016			December 31, 2017			December 31, 2018
Deferred tax (liability) asset:
Trade receivables	Ps.	(10,991	)	Ps.	(822	)	Ps.	(820	)
Machinery, equipment and improvements on leased buildings		(114,627	)		(103,782	)		(96,496	)
Improvements to concession assets		(2,209	)		(2,008	)		(1,905	)
Airport concessions		(835,432	)		(748,879	)		(700,168	)
Accruals		16,586			16,238			14,458
Deferred tax liability	Ps.	(946,673	)	Ps.	(839,253	)	Ps.	(784,931	)

Schedule of Unrecognized Deferred Income Tax Assets

Unrecognized deferred income tax assets – Unrecognized deferred income tax assets in the consolidated statement of financial position is comprised of the following items for the Mexican subsidiaries:

	December 31, 2016		December 31, 2017		December 31, 2018
Tax loss carryforwards	Ps.	221,330	Ps.	212,464	Ps.	235,475
Recoverable tax on assets		232,796		225,209		170,765
	Ps.	454,126	Ps.	437,673	Ps.	406,240

Summary of Deferred Income Tax from Tax Loss Carryforwards

Deferred income tax from tax loss carryforwards – The Company generated tax loss carryforwards in the airports of Aguascalientes, Los Mochis, Manzanillo and Morelia, and at Grupo Aeroportuario del Pacífico, S.A.B. de C.V. The Company estimates tax loss carryforwards will be recoverable in the airports of Aguascalientes, Morelia and in Grupo Aeroportuario del Pacífico, S.A.B. de C.V., according to the amounts shown in the following table. With respect to tax legislation relative to concessions, such losses will expire in 2048, except for the tax losses of Grupo Aeroportuario del Pacífico, S.A.B. de C.V., which expire in 2025. Tax losses that can be recovered based on management’s financial projections are recognized as part of the deferred tax asset.

	December 31, 2016			December 31, 2017			December 31, 2018
Tax loss carryforwards	Ps.	1,517,650		Ps.	1,278,180		Ps.	1,162,441
Unrecognized tax loss carryforwards		(737,766	)		(708,212	)		(784,917	)
Recognized tax loss carryforwards	Ps.	779,884		Ps.	569,968		Ps.	377,524

Summary of Reconciliation of Changes in Deferred Tax Assets

	Balance as of January 1, 2016				Effects in profit and loss				Allocation to recoverable taxes			Other comprehensive income			Balance as of December 31, 2016
Temporary differences for the deferred tax asset:
Expected credit loss	Ps.	34,813			Ps.	(26,546)			Ps.	—		Ps.	—		Ps.	8,267
Machinery, equipment and improvements on leased assets			30,017				1,837			—			—				31,854
Improvements to concession assets			372,266				39,354			—			—				411,620
Airport concessions and rights to use airport facilities			4,046,418				116,057			—			—				4,162,475
Other acquired rights			111,492				6,723			—			—				118,215
Derivative financial instruments			—				(20,446	)		—			—				(20,446	)
Other assets			(121	)			389			—			—				268
Tax loss carryforwards			137,330				96,635			—			—				233,965
Employee benefits			25,701				61			—			(4,864	)			20,898
Accruals			7,251				2,218			—			—				9,469
Recoverable tax on assets			168,054				(842	)		(72,953	)		—				94,259
Total deferred tax asset	Ps.	4,933,221			Ps.	215,440			Ps.	(72,953	)	Ps.	(4,864	)	Ps.	5,070,844

	Balance as of January 1, 2017				Effects in profit and loss				Allocation to recoverable taxes				Other comprehensive income				Balance as of December 31, 2017
Temporary differences for the deferred tax asset:
Expected credit loss	Ps.	8,267			Ps.	(1,058)			Ps.	—			Ps.	—			Ps.	7,209
Machinery, equipment and improvements on leased assets			31,854				5,791			—				—				37,645
Improvements to concession assets			411,620				99,546				—			—				511,166
Airport concessions and rights to use airport facilities			4,162,475				298,736			—				—				4,461,211
Other acquired rights			118,215				12,561				—				—			130,776
Derivative financial instruments			(20,446	)			(10,221	)			—				—			(30,667	)
Other assets			268				119				—				—			387
Tax loss carryforwards			233,965				(62,975	)			—				—			170,990
Employee benefits			20,898				8,721				—				(2,362	)		27,257
Accruals			9,469				3,497				—				—			12,966
Recoverable tax on assets			94,259				2,656				(71,573	)			—			25,342
Total deferred tax asset	Ps.		5,070,844		Ps.		357,373		Ps.		(71,573	)	Ps.		(2,362	)	Ps.	5,354,282

	Balance as of January 1, 2018				Effects in profit and loss			Allocation to recoverable taxes				Other comprehensive income			Balance as of December 31, 2018
Temporary differences for the deferred tax asset:
Expected credit loss	Ps.	$	7,209		Ps.	3,427		Ps.	—			Ps.	—		Ps.	10,636
Machinery, equipment and improvements on leased assets			37,645			9,078			—				—			46,723
Improvements to concession assets			511,166			56,331				—			—			567,497
Airport concessions and rights to use airport facilities			4,461,211			130,905			—				—			4,592,116
Other acquired rights			130,776			8,492				—				—		139,268
Derivative financial instruments			(30,667	)		(8,825	)			—				—		(39,492	)
Other assets			387			58				—				—		445
Tax loss carryforwards			170,990			(57,733	)			—				—		113,257
Employee benefits			27,257			(5,236	)			—				5,784		27,805
Accruals			12,966			1,058				—				—		14,024
Recoverable tax on assets			25,342			54,444				(79,786	)			—		-
Total deferred tax asset	Ps.		5,354,282		Ps.	191,999		Ps.		(79,786	)	Ps.		5,784	Ps.	5,472,279

Summary of Reconciliation of Changes in Deferred Tax Liabilities

	Balance as of January 1, 2016			Effects in profit and loss			Other comprehensive income			Balance as of December 31, 2016
Temporary differences for the deferred tax liability:
Accounts receivable	Ps.	(2,158	)	Ps.	(535	)	Ps.	(8,298	)	Ps.	(10,991	)
Machinery, equipment and improvements on leased assets		(100,485	)		6,307			(20,449	)		(114,627	)
Improvements to concession assets		(2,466	)		94			163			(2,209	)
Airport concessions		(728,231	)		45,003			(152,204	)		(835,432	)
Accruals		14,461			(6	)		2,131			16,586
Total deferred tax liability	Ps.	(818,879	)	Ps.	50,863		Ps.	(178,657	)	Ps.	(946,673	)

	Balance as of January 1, 2017			Effects in profit and loss				Other comprehensive income				Balance as of December 31, 2017
Temporary differences for the deferred tax liability:
Accounts receivable	Ps.	(10,991	)	Ps.		(185	)	Ps.	10,354			Ps.	(822	)
Machinery, equipment and improvements on leased assets		(114,627	)			5,555				5,290			(103,782	)
Improvements to concession assets		(2,209	)			95				106			(2,008	)
Airport concessions		(835,432	)			45,675				40,878			(748,879	)
Accruals		16,586				398				(746	)		16,238
Total deferred tax liability	Ps.	(946,673	)	Ps.	51,538			Ps.	55,882			Ps.	(839,253	)

	Balance as of January 1, 2018			Effects in profit and loss			Other comprehensive income			Balance as of December 31, 2018
Temporary differences for the deferred tax liability:
Accounts receivable	Ps.	(822	)	Ps.	5,220		Ps.	(5,218	)	Ps.	(820	)
Machinery, equipment and improvements on leased assets		(103,782	)		6,998			288			(96,496	)
Improvements to concession assets		(2,008	)		97			6			(1,905	)
Airport concessions		(748,879	)		46,399			2,312			(700,168	)
Accruals		16,238			(2,263	)		483			14,458
Total deferred tax liability	Ps.	(839,253	)	Ps.	56,451		Ps.	(2,129	)	Ps.	(784,931	)

Summary of Components of Recoverable Tax on Assets

At December 31, 2016, 2017 and 2018, the recoverable tax on assets is comprised as follows.

	December 31, 2016			December 31, 2017			December 31, 2018
Recoverable tax on assets paid	Ps.	327,055		Ps.	250,551		Ps.	170,765
Unrecognized recoverable tax on assets paid		(232,796	)		(225,209	)		(170,765	)
Recognized recoverable tax on assets	Ps.	94,259		Ps.	25,342		Ps.	—