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Bank Loans and issuance of Debt Securities (Tables) | 12 Months Ended
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Dec. 31, 2020
Disclosure Of Detailed Information About Borrowings [Abstract] |
Summary of Unpaid Balance of Loan - Loans Contracted with Banking Institutions and Third Parties | With the acquisition of MBJA, the Company assumed loans previously hired by MBJA. All the loans contracted with banking institutions and third parties are described below with the unpaid balance at each date.
|  | December 31 2018 |  |  | December 31 2019 |  |  | December 31 2020 |
MBJA signed a simple unsecured loan with its shareholder Vantage in June 2007 for USD$10,936,000, which is repayable at the same maturity date as the IFC´s loans but are subject to restrictions. Interest is accrued at an interest rate of 14% per annum. The loan does not have an expiration date nor an amortization schedule. |  | Ps. |  | 215,269 |  |  | Ps. |  | 206,107 |  |  | Ps. |  | 218,176 |
In February 2009, MBJA signed a simple unsecured loan with its shareholder Vantage for USD$510,000 to finance expenses related to a construction project of MBJA. The interest rate was set at 8%. The loan does not have an expiration date nor an amortization schedule. |  |  |  | 10,038 |  |  |  |  | 9,610 |  |  |  |  | 10,174 |
On January 19, 2016, GAP refinanced with Bank of Nova Scotia the simple unsecured loan contracted previously in the short term for amount of USD $95.5 million, with a five-year maturity. The loan bears interest at Libor 1M plus 99 basis points. |  |  |  | 1,879,717 |  |  |  |  | 1,799,717 |  |  |  |  | 1,905,101 |
On February 15, 2016, GAP refinanced with BBVA Bancomer the simple unsecured loan contracted previously in the short term for amount of USD $95.5 million, with a five-year maturity. The loan bears interest at Libor 1M plus 105 basis points. |  |  |  | 1,879,717 |  |  |  |  | 1,799,717 |  |  |  |  | 1,905,101 |
On December 28, 2017, MBJA signed a simple unsecured loan with The Bank of Nova Scotia Jamaica Limited for USD$40,000,000. The loan bears interest at Libor 1M plus 280 basis points for a period of 7 years from this disposition and semi-annual instalments. As of December 31, 2019 the balance amounted to USD$33.0 million. |  |  |  | 551,122 |  |  |  |  | 621,891 |  |  |  |  | 718,153 |
On April 13, 2020, GAP signed a simple unsecured loan with Scotiabank for Ps. 1,000,000 for a period of 15 months an interest rate 28 days TIIE variable plus 100 basis points. |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,000,000 |
On May 15, 2020, GAP signed a simple unsecured loan with BBVA Bancomer Ps. 1,000,000. The loan bears interest at a fixed annual interest rate of 6.99% over a period of 2 years. |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,000,000 |
On September 3, 2020, MBJA signed a simple unsecured loan with The Bank of Nova Scotia Jamaica Limited for USD$60,000,000. The loan bears interest at LIBOR plus 310 basis points for a period of 7 years from this disposition and semi-annual instalments. As of December 31, 2020 the balance amounted to USD$30,000,000. |  |  |  |  |  |  |  |  |  |  |  |  |  | 598,461 |
Total unpaid balance of bank loans and long-term debt |  |  |  | 4,535,863 |  |  |  |  | 4,437,043 |  |  |  |  | 7,355,166 |
Less - Current portion |  |  |  | — |  |  |  |  | — |  |  |  |  | (1,159,590 | )
Long-term portion |  | Ps. |  | 4,535,863 |  |  | Ps. |  | 4,437,043 |  |  | Ps. |  | 6,195,576 |
Summary of Issuance of Debt Securities |
Summary of Maturity of Long Term Debt Payable | The long-term debt previously described, matures as follows:
Year |  | Amount |
2021 |  | Ps. |  | 2,659,590 |
2022 |  |  |  | 4,959,590 |
2023 |  |  |  | 4,571,791 |
2024 |  |  |  | 3,159,590 |
2025 |  |  |  | 4,687,518 |
Thereafter |  |  |  | 4,317,087 |
|  | Ps. |  | 24,355,166 |
Summary of Debt Payable | As of December 31, 2018, 2019 and 2020, debts are payable by the following companies:
|  | At December 31, 2018 |
Company |  | Current |  |  | Long-Term |  |  | Total |
GAP |  | Ps. |  | — |  |  | Ps. |  | 12,759,435 |  |  | Ps. |  | 12,759,435 |
MBJA |  |  |  | - |  |  |  |  | 776,428 |  |  |  |  | 776,428 |
Total |  | Ps. |  | - |  |  | Ps. |  | 13,535,863 |  |  | Ps. |  | 13,535,863 |
|  | At December 31, 2019 |
Company |  | Current |  |  | Long-Term |  |  | Total |
GAP |  | Ps. |  | 2,200,000 |  |  | Ps. |  | 13,399,433 |  |  | Ps. |  | 15,599,433 |
MBJA |  |  |  | — |  |  |  |  | 837,610 |  |  |  |  | 837,610 |
Total |  | Ps. |  | 2,200,000 |  |  | Ps. |  | 14,237,043 |  |  | Ps. |  | 16,437,043 |
|  | At December 31, 2020 |
Company |  | Current |  |  | Long-Term |  |  | Total |
GAP |  | Ps. |  | 2,500,000 |  |  | Ps. |  | 20,310,202 |  |  | Ps. |  | 22,810,202 |
MBJA |  |  |  | 159,590 |  |  |  |  | 1,385,374 |  |  |  |  | 1,544,964 |
Total |  | Ps. |  | 2,659,590 |  |  | Ps. |  | 21,695,576 |  |  | Ps. |  | 24,355,166 |
Summary of Reconciliation of Liabilities Arising From Financing Activities |
| c) | Reconciliation of liabilities arising from financing activities
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Non-cash changes |  |  |  |  |  |
|  | Balance as of January 1, 2020 |  |  | Repayments on bank loans |  |  | Proceeds from issuance of Debt securities |  |  | Proceeds from Debt long-term |  |  | Exchange effects |  |  | Long-term reclassification |  |  | Fair value adjustments in P&L |  |  | Hedges fair value adjustments |  |  | Balance as of December 31, 2020 |
Debt securities current portion |  | Ps. |  | 2,200,000 |  |  | Ps. |  | (2,200,000 | ) |  | Ps. |  | — |  |  | Ps. |  | — |  |  | Ps. |  | 9,170 |  |  | Ps. |  | 2,650,420 |  |  | Ps. |  | — |  |  | Ps. |  | — |  |  | Ps. |  | 2,659,590 |
Long-term borrowings |  |  |  | 4,437,043 |  |  |  |  | — |  |  |  |  | — |  |  |  |  | 2,709,125 |  |  |  |  | 199,828 |  |  |  |  | (1,150,420 | ) |  |  |  | — |  |  |  |  | — |  |  |  |  | 6,195,576 |
Debt securities |  |  |  | 9,800,000 |  |  |  |  | — |  |  |  |  | 7,200,000 |  |  |  |  | — |  |  |  |  | — |  |  |  |  | (1,500,000 | ) |  |  |  | — |  |  |  |  | — |  |  |  |  | 15,500,000 |
Derivative financial instruments (Note 15) |  |  |  | 261,293 |  |  |  |  | — |  |  |  |  | — |  |  |  |  | — |  |  |  |  | — |  |  |  |  | — |  |  |  |  | 62,249 |  |  |  |  | 427,162 |  |  |  |  | 750,704 |
Total |  | Ps. |  | 16,698,336 |  |  | Ps. |  | (2,200,000 | ) |  | Ps. |  | 7,200,000 |  |  | Ps. |  | 2,709,125 |  |  | Ps. |  | 208,998 |  |  | Ps. |  | — |  |  | Ps. |  | 62,249 |  |  | Ps. |  | 427,162 |  |  | Ps. |  | 25,105,870 |

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