Income taxes

12 Months Ended

Dec. 31, 2024

Disclosure Of Income Taxes [Abstract]

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 was 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, as well as for DCA in Spain.

To determine deferred income taxes as of December 31, 2022, 2023 and 2024 the Company applied the enacted tax rates to temporary differences based on their estimated reversal dates in Entities of the Company.

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.

Recoverable taxes – In the regular course of operations, the Company generates receivable balances due to overpayment of tax 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) and withholding taxes.

The balances of recoverable taxes are comprised as follows:


	December 31, 2022		December 31, 2023		December 31, 2024
Recoverable taxes:
ISR	Ps.	69,326	Ps.	645,868	Ps.	395,304
IVA		516,114		482,353		361,320
Withholding taxes		31,955		20,513		43,418
IMPAC		23,781		1,203		1,203
Corporation taxes		11,515		96,547		185,080
Other		5,430		6,533		24,385
	Ps.	658,121	Ps.	1,253,017	Ps.	1,010,710

Income Tax – Income tax expense (benefit) for the years ended December 31, 2022, 2023 and 2024 consists of the following:


	2022			2023			2024
ISR:
Current	Ps.	3,849,778		Ps.	3,616,811		Ps.	3,989,603
Deferred		(759,566	)		(544,721	)		(749,301	)
	Ps.	3,090,212		Ps.	3,072,090		Ps.	3,240,302

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, 2022, 2023 and 2024 is shown below:


	%	2022		%		2023	%	2024
'Income before income taxes		Ps.	12,275,686		Ps.	12,761,690		Ps.	12,115,741
Income tax by applying the weighted average statutory rate (1)	30.0%		3,682,706	28.3%		3,615,812	30.9%		3,634,722
Effects of inflation over monetary assets	(4.5)%		(547,859)	(3.6)%		(454,352)	(4.3)%		(403,499)
(Unrecognized) applied tax loss carryforwards	((0.0)%		(6,105)	(0.2)%		(28,028)	(0.1)%		(2,160)
Employee benefits	(0.1%)		(9,553)	(0.1%)		(17,939)	(0.3%)		(9,243)
Tax rate change	(—%)		-	(—%)		-	0.4%		15,236
Other	(0.2)%		(28,977)	(0.3)%		(43,403)	0.1%		5,246
Effective tax rate	25.2%	Ps.	3,090,212	24.1%	Ps.	3,072,090	26.7%	Ps.	3,240,302

(1)

The tax rate used for the 2022, 2023 and 2024 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.

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, 2022			December 31, 2023			December 31, 2024
Deferred ISR asset (liability):
Expected credit loss	Ps.	40,449		Ps.	37,063		Ps.	14,857
Machinery and equipment		122,854			139,178			148,473
Improvements to concession assets		1,037,511			1,293,468			1,363,641
Airport concessions and rights to use airport facilities		5,432,747			5,588,605			5,673,273
Other acquired rights		176,967			183,100			187,441
Derivative financial instruments		(87,067	)		(50,231	)		(5,420	)
Other assets		492			622			899
Tax loss carryforwards		-			28,028			588,177
Employee benefits		66,073			81,562			117,555
Accruals		20,142			36,418			39,819
Net deferred income tax asset	Ps.	6,810,168		Ps.	7,337,813		Ps.	8,128,715

The net deferred income tax liabilities relate to subsidiaries in Mexico and Jamaica:


	December 31, 2022			December 31, 2023			December 31, 2024
Deferred tax (liability) asset:
Trade receivables	Ps.	-		Ps.	4,863		Ps.	8,383
Machinery, equipment and improvements on leased assets		(3,161	)		25,309			33,599
Improvements to concession assets		(1,461	)		(1,089	)		(1,215	)
Airport concessions		(528,757	)		(394,725	)		(1,174,504	)
Accruals		44,575			30,468			77,948
Deferred tax liability	Ps.	(488,804	)	Ps.	(335,174	)	Ps.	(1,055,789	)

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, 2022		December 31, 2023		December 31, 2024
Tax loss carryforwards	Ps.	392,549	Ps.	431,934	Ps.	465,308
Deductible tax temporary difference		132,089		138,326		142,942
	Ps.	524,638	Ps.	570,260	Ps.	608,250

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.

Deferred income tax from tax loss carryforwards – The Company generated tax loss carryforwards in the airport of Los Mochis, Manzanillo, IEM, GAP and CORSA. With respect to tax legislation relating to concessions, such losses will expire in 2048, except for IEM whose losses were originated in 2014 to expire in this fiscal year and GAP that its loss were originated in 2024 and expire until 2034 for their application. Tax losses that can be recovered based on management’s financial projections are recognized as part of the deferred tax asset.


	December 31, 2022			December 31, 2023			December 31, 2024
Tax loss carryforwards	Ps.	1,308,497		Ps.	1,579,920		Ps.	3,418,190
Unrecognized tax loss carryforwards		(1,308,497	)		(1,439,780	)		(1,551,027	)
Recognized tax loss carryforwards	Ps.	-		Ps.	140,140		Ps.	1,867,163

Balances and movements of deferred taxes during the period.


	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, 2023			Effects of profit and loss			Other comprehensive income			Balance as of December 31, 2023
Temporary differences for the deferred tax asset:
Expected credit loss	Ps.	40,449		Ps.	(3,386	)	Ps.	—		Ps.	37,063
Machinery, equipment and improvements on leased assets		122,854			16,324			—			139,178
Improvements to concession assets		1,037,511			255,957			—			1,293,468
Airport concessions and rights to use airport facilities		5,432,747			155,858			—			5,588,605
Other acquired rights		176,967			6,133			—			183,100
Derivative financial instruments		(87,067	)		6,876			29,959			(50,232	)
Other assets		492			130			—			622
Tax loss carryforwards		-			28,028			—			28,028
Employee benefits		66,073			16,088			(599	)		81,562
Accruals		20,142			16,277			—			36,419
Total deferred tax asset	Ps.	6,810,168		Ps.	498,285		Ps.	29,360		Ps.	7,337,813


	Balance as of January 1, 2024			Effects of profit and loss			Other comprehensive income		Balance as of December 31, 2024
Temporary differences for the deferred tax asset:
Expected credit loss	Ps.	37,063		Ps.	(22,206	)	Ps.	—	Ps.	14,857
Machinery, equipment and improvements on leased assets		139,178			9,295			—		148,473
Improvements to concession assets		1,293,468			70,173			—		1,363,641
Airport concessions and rights to use airport facilities		5,588,605			84,668			—		5,673,273
Other acquired rights		183,100			4,341			—		187,441
Derivative financial instruments		(50,232	)		16,825			27,987		(5,420	)
Other assets		622			277			—		899
Tax loss carryforwards		28,028			560,149			—		588,177
Employee benefits		81,562			33,764			2,229		117,555
Accruals		36,419			3,400			—		39,819
Total deferred tax asset	Ps.	7,337,813		Ps.	760,686		Ps.	30,216	Ps.	8,128,715


	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	)


	Balance as of January 1, 2023		Effects of profit and loss		Other comprehensive income		Balance as of December 31, 2023
Temporary differences for the deferred tax liability:
Trade accounts receivable	Ps.	-	Ps.	4,863	Ps.	-	Ps.	4,863
Machinery, equipment and improvements on leased assets		(3,161)		1,986		26,484		25,309
Improvements to concession assets		(1,461)		89		283		(1,089)
Airport concessions		(528,757)		42,855		91,177		(394,725)
Accruals		44,575		(3,357)		(10,750)		30,468
Total deferred tax liability	Ps.	(488,804)	Ps.	46,436	Ps.	107,194	Ps.	(335,174)


	Balance as of January 1, 2024			Effects of profit and loss			Acquired in business combinations			Other comprehensive income			Balance as of December 31, 2024
Temporary differences for the deferred tax liability:
Trade accounts receivable	Ps.	4,863		Ps.	2,549		Ps.	-		Ps.	971		Ps.	8,383
Machinery, equipment and improvements on leased assets		25,309			3,234			-			5,056			33,599
Improvements to concession assets		(1,089	)		92			-			(218	)		(1,215	)
Airport concessions		(394,725	)		(58,653	)		(642,273	)		(78,853	)		(1,174,504	)
Accruals		30,468			41,393			-			6,087			77,948
Total deferred tax liability	Ps.	(335,174	)	Ps.	(11,385	)	Ps.	(642,273	)	Ps.	(66,957	)	Ps.	(1,055,789	)