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Income taxes | 12 Months Ended
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Dec. 31, 2022
Disclosure Of Income Taxes [Abstract] |
Income taxes | 12. Income taxes The Company is subject to income taxes, in accordance with the tax laws in Mexico, Spain and Jamaica. Current income taxes – The income tax rate for the Mexican entities is 30%. With the exception of the airports of Mexicali and Tijuana located in the Border of Mexico with the United States of America, which for year 2019 will be 20%, applying the “Decreto de Estímulos Fiscales Región Fronteriza Norte” in which one third of the income tax will be applied and according to the decree published by the Government of Mexico in December 2020, the decree is extended until 2024. The tax rate for MBJA and PACKAL is 25% in Jamaica, while for DCA in Spain the tax rate is 25%. To determine deferred income taxes as of December 31, 2020, 2021 and 2022 the Company applied the applicable tax rates to temporary differences based on their estimated reversal dates in Entities of the Company. a. Recoverable income taxes paid on dividends – Dividends paid to Shareholders which are not derived from the net tax income account (CUFIN) generate current income taxes and can be credited against the taxes of the Company during the year of the dividend payment and the two subsequent years in the Mexican entities. b. Recoverable taxes – In the regular course of operations, the Company generates receivable balances by the overpayment of taxes payable, according to the calculation mechanism established in the Tax Law, which are recoverable through tax returns or offsetting. The main recoverable taxes are Value Added Tax (IVA), Income Tax (ISR), withholding taxes and the Asset Tax (IMPAC). The balances of recoverable taxes are comprised as follows:
|  | December 31, 2020 |  |  | December 31, 2021 |  |  | December 31, 2022 |
Recoverable taxes: |  |  |  |  |  |  |  |  |  |  |  |
ISR |  | Ps. |  | 479,032 |  |  | Ps. |  | 590,116 |  |  | Ps. |  | 69,326 |
IVA |  |  |  | 350,536 |  |  |  |  | 463,539 |  |  |  |  | 516,114 |
Withholding taxes |  |  |  | 200,393 |  |  |  |  | 176,542 |  |  |  |  | 31,955 |
IMPAC |  |  |  | 24,338 |  |  |  |  | 24,338 |  |  |  |  | 23,781 |
Business flat tax (IETU) |  |  |  | 1,929 |  |  |  |  | - |  |  |  |  | - |
Corporation taxes |  |  |  | 15,329 |  |  |  |  | - |  |  |  |  | 11,515 |
Other |  |  |  | 1,298 |  |  |  |  | 13,108 |  |  |  |  | 5,430 |
|  | Ps. |  | 1,072,855 |  |  | Ps. |  | 1,267,643 |  |  | Ps. |  | 658,121 |
c. Income Tax – Income tax expense (benefit) for the years ended December 31, 2020, 2021 and 2022 consists of the following:
|  | 2020 |  |  | 2021 |  |  | 2022 |
ISR: |  |  |  |  |  |  |  |  |  |  |  |
Current |  | Ps. |  | 722,474 |  |  | Ps. |  | 2,315,686 |  |  | Ps. |  | 3,849,778 |
Deferred |  |  |  | (255,407 | ) |  |  |  | (530,140 | ) |  |  |  | (759,566 | )
|  | Ps. |  | 467,067 |  |  | Ps. |  | 1,785,546 |  |  | Ps. |  | 3,090,212 |
d. 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, 2020, 2021 and 2022 is shown below:
|  | % |  | 2020 |  | % |  |  | 2021 |  | % |  | 2022
'Income before income taxes |  |  |  | Ps. | 2,385,770 |  |  |  | Ps. | 7,829,263 |  |  |  | Ps. | 12,275,686
Income tax by applying the weighted average statutory rate (1) |  | 30.0% |  |  | 715,731 |  | 30.0% |  |  | 2,348,779 |  | 30.0% |  |  | 3,682,706
Effects of inflation over monetary assets |  | (10.7)% |  |  | (255,946) |  | (6.0)% |  |  | (469,823) |  | (4.5)% |  |  | (547,859)
(Unrecognized) applied tax loss carryforwards |  | 2.0% |  |  | 48,041 |  | (1.1)% |  |  | (89,782) |  | (0.0)% |  |  | (6,105)
Tax rate change |  | 1.9% |  |  | 45,220 |  | - |  |  | - |  | — |  |  | -
Employee benefits |  | (0.1%) |  |  | (3,127) |  | 0.2% |  |  | 14,949 |  | (0.1%) |  |  | (9,553)
Other |  | (3.5)% |  |  | (82,852) |  | (0.3)% |  |  | (18,577) |  | (0.2)% |  |  | (28,977)
Effective tax rate |  | 19.6% |  | Ps. | 467,067 |  | 22.8% |  | Ps. | 1,785,546 |  | 25.2% |  | Ps. | 3,090,212
(1) The tax rate used for the 2020, 2021 and 2022 previous reconciliations above is the average corporate tax rate, respectively payable by corporate entities in Mexico, Jamaica and Spain on taxable profits in accordance with tax laws in these jurisdictions. e. Assets and liabilities deferred income tax recognized – Deferred taxes are presented according to the origin of the operations of the individual subsidiaries of the Company as IAS - 12 Income taxes does not allow the offsetting of taxes in accordance with the following: An entity must offset deferred tax assets with tax deferred tax liabilities if, and only if: (a) It has a legally enforceable right to offset before the tax authorities the amounts recognized in these items; and (b) deferred tax assets and deferred tax liabilities arising from a tax on profits corresponding to the same fiscal authority, which fall under: (i) the same company or taxable entity; or (ii) different companies or individuals for tax purposes that seek to either liquidate assets and current tax liabilities on a net basis, or to realize the assets and settle the liabilities simultaneously, in each future period in which expected to be settled or recovered significant amounts of assets or liabilities for deferred taxes. The net assets for deferred taxes belong to Mexico subsidiaries:
|  | December 31, 2020 |  |  | December 31, 2021 |  |  | December 31, 2022 |
Deferred ISR asset (liability): |  |  |  |  |  |  |  |  |  |  |  |
Expected credit loss |  | Ps. |  | 29,478 |  |  | Ps. |  | 30,238 |  |  | Ps. |  | 40,449 |
Machinery and equipment |  |  |  | 56,298 |  |  |  |  | 75,671 |  |  |  |  | 122,854 |
Improvements to concession assets |  |  |  | 657,472 |  |  |  |  | 834,813 |  |  |  |  | 1,037,511 |
Airport concessions and rights to use airport facilities |  |  |  | 4,691,382 |  |  |  |  | 5,046,004 |  |  |  |  | 5,432,747 |
Other acquired rights |  |  |  | 146,980 |  |  |  |  | 161,316 |  |  |  |  | 176,967 |
Derivative financial instruments |  |  |  | 225,548 |  |  |  |  | (5,160 | ) |  |  |  | (87,067 | )
Other assets |  |  |  | 315 |  |  |  |  | 459 |  |  |  |  | 492 |
Tax loss carryforwards |  |  |  | 95,886 |  |  |  |  | 6,104 |  |  |  |  | - |
Employee benefits |  |  |  | 41,447 |  |  |  |  | 56,313 |  |  |  |  | 66,073 |
Accruals |  |  |  | 21,557 |  |  |  |  | 25,128 |  |  |  |  | 20,142 |
Net deferred income tax asset |  | Ps. |  | 5,966,363 |  |  | Ps. |  | 6,230,886 |  |  | Ps. |  | 6,810,168 |
The net deferred income tax liability corresponds to the subsidiaries in Jamaica:
|  | December 31, 2020 |  |  | December 31, 2021 |  |  | December 31, 2022 |
Deferred tax (liability) asset: |  |  |  |  |  |  |  |  |  |  |  |
Trade receivables |  | Ps. |  | (881 | ) |  | Ps. |  | (1,204 | ) |  | Ps. |  | - |
Machinery, equipment and improvements on leased assets |  |  |  | (75,262 | ) |  |  |  | (27,644 | ) |  |  |  | (3,161 | )
Improvements to concession assets |  |  |  | (1,731 | ) |  |  |  | (1,702 | ) |  |  |  | (1,461 | )
Airport concessions |  |  |  | (590,401 | ) |  |  |  | (618,567 | ) |  |  |  | (528,757 | )
Accruals |  |  |  | 12,796 |  |  |  |  | 42,485 |  |  |  |  | 44,575 |
Deferred tax liability |  | Ps. |  | (655,479 | ) |  | Ps. |  | (606,632 | ) |  | Ps. |  | (488,804 | )
f. Unrecognized deferred income tax assets – Unrecognized deferred income tax assets in the consolidated statement of financial position are comprised of the following items of the Mexican Companies:
|  | December 31, 2020 |  |  | December 31, 2021 |  |  | December 31, 2022 |
Tax loss carryforwards |  | Ps. |  | 306,332 |  |  | Ps. |  | 350,611 |  |  | Ps. |  | 392,549 |
Deductible tax temporary difference |  |  |  | 106,187 |  |  |  |  | 118,653 |  |  |  |  | 132,089 |
|  | Ps. |  | 412,519 |  |  | Ps. |  | 469,264 |  |  | Ps. |  | 524,638 |
The Company does not recognize deferred tax assets on tax loss carryforwards for which it is not probable to generate future taxable profits to utilize such tax losses. The Company does not recognize deferred tax assets relating to temporary differences between the accounting and tax value of investments in subsidiaries, as it has the power to control the reversal date of those temporary differences, and does not expect them to reverse in the foreseeable future. g. Deferred income tax from tax loss carryforwards – The Company generated tax loss carryforwards in the airports of Los Mochis, Manzanillo. With respect to tax legislation relating to concessions, such losses will expire in 2048. Tax losses that can be recovered based on management’s financial projections are recognized as part of the deferred tax asset.
|  | December 31, 2020 |  |  | December 31, 2021 |  |  | December 31, 2022 |
Tax loss carryforwards |  | Ps. |  | 1,340,729 |  |  | Ps. |  | 1,189,051 |  |  | Ps. |  | 1,308,497 |
Unrecognized tax loss carryforwards |  |  |  | (1,021,106 | ) |  |  |  | (1,168,702 | ) |  |  |  | (1,308,497 | )
Recognized tax loss carryforwards |  | Ps. |  | 319,623 |  |  | Ps. |  | 20,349 |  |  | Ps. |  | - |
h. Balances and movements of deferred taxes during the period.
|  | Balance as of January 1, 2020 |  |  | Effects of profit and loss |  |  | Other comprehensive income |  |  | Balance as of December 31, 2020 |
Temporary differences for the deferred tax asset: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Expected credit loss |  | Ps. |  | 10,831 |  |  | Ps. |  | 18,647 |  |  | Ps. |  | — |  |  | Ps. |  | 29,478 |
Machinery, equipment and improvements on leased assets |  |  |  | 50,590 |  |  |  |  | 5,708 |  |  |  |  | — |  |  |  |  | 56,298 |
Improvements to concession assets |  |  |  | 605,051 |  |  |  |  | 52,421 |  |  |  |  | — |  |  |  |  | 657,472 |
Airport concessions and rights to use airport facilities |  |  |  | 4,654,502 |  |  |  |  | 36,880 |  |  |  |  | — |  |  |  |  | 4,691,382 |
Other acquired rights |  |  |  | 143,596 |  |  |  |  | 3,384 |  |  |  |  | — |  |  |  |  | 146,980 |
Derivative financial instruments |  |  |  | 82,370 |  |  |  |  | 15,030 |  |  |  |  | 128,148 |  |  |  |  | 225,548 |
Other assets |  |  |  | 449 |  |  |  |  | (134 | ) |  |  |  | — |  |  |  |  | 315 |
Tax loss carryforwards |  |  |  | 51,304 |  |  |  |  | 44,582 |  |  |  |  | — |  |  |  |  | 95,886 |
Employee benefits |  |  |  | 30,373 |  |  |  |  | (1,487 | ) |  |  |  | 12,561 |  |  |  |  | 41,447 |
Accruals |  |  |  | 19,878 |  |  |  |  | 1,679 |  |  |  |  | — |  |  |  |  | 21,557 |
Total deferred tax asset |  | Ps. |  | 5,648,944 |  |  | Ps. |  | 176,710 |  |  | Ps. |  | 140,709 |  |  | Ps. |  | 5,966,363 |
|  | Balance as of January 1, 2021 |  |  | Effects of profit and loss |  |  | Other comprehensive income |  |  | Balance as of December 31, 2021 |
Temporary differences for the deferred tax asset: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Expected credit loss |  | Ps. |  | 29,478 |  |  | Ps. |  | 760 |  |  | Ps. |  | — |  |  | Ps. |  | 30,238 |
Machinery, equipment and improvements on leased assets |  |  |  | 56,298 |  |  |  |  | 19,373 |  |  |  |  | — |  |  |  |  | 75,671 |
Improvements to concession assets |  |  |  | 657,472 |  |  |  |  | 177,341 |  |  |  |  | — |  |  |  |  | 834,813 |
Airport concessions and rights to use airport facilities |  |  |  | 4,691,382 |  |  |  |  | 354,622 |  |  |  |  | — |  |  |  |  | 5,046,004 |
Other acquired rights |  |  |  | 146,980 |  |  |  |  | 14,336 |  |  |  |  | — |  |  |  |  | 161,316 |
Derivative financial instruments |  |  |  | 225,548 |  |  |  |  | (16,094 | ) |  |  |  | (214,614 | ) |  |  |  | (5,160 | )
Other assets |  |  |  | 315 |  |  |  |  | 144 |  |  |  |  | — |  |  |  |  | 459 |
Tax loss carryforwards |  |  |  | 95,886 |  |  |  |  | (89,782 | ) |  |  |  | — |  |  |  |  | 6,104 |
Employee benefits |  |  |  | 41,447 |  |  |  |  | 15,708 |  |  |  |  | (842 | ) |  |  |  | 56,313 |
Accruals |  |  |  | 21,557 |  |  |  |  | 3,571 |  |  |  |  | — |  |  |  |  | 25,128 |
Total deferred tax asset |  | Ps. |  | 5,966,363 |  |  | Ps. |  | 479,979 |  |  | Ps. |  | (215,456 | ) |  | Ps. |  | 6,230,886 |
|  | Balance as of January 1, 2022 |  |  | Effects of profit and loss |  |  | Other comprehensive income |  |  | Balance as of December 31, 2022 |
Temporary differences for the deferred tax asset: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Expected credit loss |  | Ps. |  | 30,238 |  |  | Ps. |  | 10,211 |  |  | Ps. |  | — |  |  | Ps. |  | 40,449 |
Machinery, equipment and improvements on leased assets |  |  |  | 75,671 |  |  |  |  | 47,183 |  |  |  |  | — |  |  |  |  | 122,854 |
Improvements to concession assets |  |  |  | 834,813 |  |  |  |  | 202,698 |  |  |  |  | — |  |  |  |  | 1,037,511 |
Airport concessions and rights to use airport facilities |  |  |  | 5,046,004 |  |  |  |  | 386,743 |  |  |  |  | — |  |  |  |  | 5,432,747 |
Other acquired rights |  |  |  | 161,316 |  |  |  |  | 15,651 |  |  |  |  | — |  |  |  |  | 176,967 |
Derivative financial instruments |  |  |  | (5,160 | ) |  |  |  | (38,636 | ) |  |  |  | (43,271 | ) |  |  |  | (87,067 | )
Other assets |  |  |  | 459 |  |  |  |  | 33 |  |  |  |  | — |  |  |  |  | 492 |
Tax loss carryforwards |  |  |  | 6,104 |  |  |  |  | (6,104 | ) |  |  |  | — |  |  |  |  | - |
Employee benefits |  |  |  | 56,313 |  |  |  |  | 10,602 |  |  |  |  | (842 | ) |  |  |  | 66,073 |
Accruals |  |  |  | 25,128 |  |  |  |  | (4,986 | ) |  |  |  | — |  |  |  |  | 20,142 |
Total deferred tax asset |  | Ps. |  | 6,230,886 |  |  | Ps. |  | 623,395 |  |  | Ps. |  | (44,113 | ) |  | Ps. |  | 6,810,168 |
|  | Balance as of January 1, 2020 |  |  | Effects of profit and loss |  |  | Other comprehensive income |  |  | Balance as of December 31, 2020 |
Temporary differences for the deferred tax liability: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trade accounts receivable |  | Ps. |  | (1,169 | ) |  | Ps. |  | (3,525 | ) |  | Ps. |  | 3,813 |  |  | Ps. |  | (881 | )
Machinery, equipment and improvements on leased assets |  |  |  | (76,881 | ) |  |  |  | 32,937 |  |  |  |  | (31,318 | ) |  |  |  | (75,262 | )
Improvements to concession assets |  |  |  | (1,712 | ) |  |  |  | 107 |  |  |  |  | (126 | ) |  |  |  | (1,731 | )
Airport concessions |  |  |  | (615,751 | ) |  |  |  | 51,834 |  |  |  |  | (26,484 | ) |  |  |  | (590,401 | )
Accruals |  |  |  | 13,604 |  |  |  |  | (2,656 | ) |  |  |  | 1,848 |  |  |  |  | 12,796 |
Total deferred tax liability |  | Ps. |  | (681,909 | ) |  | Ps. |  | 78,697 |  |  | Ps. |  | (52,267 | ) |  | Ps. |  | (655,479 | )
|  | Balance as of January 1, 2021 |  | Effects of profit and loss |  | Other comprehensive income |  | Balance as of December 31, 2021
Temporary differences for the deferred tax liability: |  |  |  |  |  |  |  |  |  |  |  |
Trade accounts receivable |  | Ps. | (881) |  | Ps. | 4,818 |  | Ps. | (5,141) |  | Ps. | (1,204)
Machinery, equipment and improvements on leased assets |  |  | (75,262) |  |  | 23,925 |  |  | 23,693 |  |  | (27,644)
Improvements to concession assets |  |  | (1,731) |  |  | 102 |  |  | (73) |  |  | (1,702)
Airport concessions |  |  | (590,401) |  |  | 48,921 |  |  | (77,087) |  |  | (618,567)
Accruals |  |  | 12,796 |  |  | (27,603) |  |  | 57,295 |  |  | 42,485
Total deferred tax liability |  | Ps. | (655,479) |  | Ps. | 50,163 |  | Ps. | (1,313) |  | Ps. | (606,632)
|  | Balance as of January 1, 2022 |  |  | Effects of profit and loss |  |  | Other comprehensive income |  |  | Balance as of December 31, 2022 |
Temporary differences for the deferred tax liability: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trade accounts receivable |  | Ps. |  | (1,204 | ) |  | Ps. |  | 2,935 |  |  | Ps. |  | (1,731 | ) |  | Ps. |  | - |
Machinery, equipment and improvements on leased assets |  |  |  | (27,644 | ) |  |  |  | 83,377 |  |  |  |  | (58,894 | ) |  |  |  | (3,161 | )
Improvements to concession assets |  |  |  | (1,702 | ) |  |  |  | 101 |  |  |  |  | 140 |  |  |  |  | (1,461 | )
Airport concessions |  |  |  | (618,567 | ) |  |  |  | 48,546 |  |  |  |  | 41,264 |  |  |  |  | (528,757 | )
Accruals |  |  |  | 42,485 |  |  |  |  | 1,212 |  |  |  |  | 878 |  |  |  |  | 44,575 |
Total deferred tax liability |  | Ps. |  | (606,632 | ) |  | Ps. |  | 136,171 |  |  | Ps. |  | (18,343 | ) |  | Ps. |  | (488,804 | )

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