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Borrowings and debt (Tables) | 12 Months Ended
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Dec. 31, 2023
Borrowings and debt |
Schedule of Borrowings and Debt | Carrying amount of borrowings and debt is detailed as follows:
| December 31, 2023
| Short-Term |  | Long-term |  |
| Borrowings |  | Debt |  |  |  | Borrowings |  | Debt |  |  |  | Total
Principal | 1,638,306 |  |  | 86,601 |  |  |  |  | 537,775 |  |  | 2,097,820 |  |  |  |  | 4,360,502 |
Transaction costs | (262) |  |  | (40) |  |  |  |  | (1,904) |  |  | (6,308) |  |  |  |  | (8,514) |
| 1,638,044 |  |  | 86,561 |  |  |  |  | 535,871 |  |  | 2,091,512 |  |  |  |  | 4,351,988 |
| December 31, 2022
| Short-Term |  | Long-term |  |
| Borrowings |  | Debt |  |  |  | Borrowings |  | Debt |  |  |  | Total
Principal | 2,153,351 |  |  | 42,255 |  |  |  |  | 650,275 |  |  | 1,580,727 |  |  |  |  | 4,426,608 |
Transaction costs | (1,376) |  |  | (5) |  |  |  |  | (2,952) |  |  | (5,764) |  |  |  |  | (10,097) |
| 2,151,975 |  |  | 42,250 |  |  |  |  | 647,323 |  |  | 1,574,963 |  |  |  |  | 4,416,511 |
Schedule of Breakdown of Short-Term (Original Maturity of Less than One Year) Borrowings and Debt, Along with Contractual Interest Rates | The breakdown of short-term (original maturity of less than one year) borrowings and debt, along with contractual interest rates, plus prepaid commissions, is as follows:
| December 31,
| 2023 |  | 2022
Short-term borrowings: |  |  |
At fixed interest rates | 732,336 |  | 1,584,776
At floating interest rates | 905,970 |  | 568,575
Principal | 1,638,306 |  | 2,153,351
Less: Transaction costs | (262) |  | (1,376)
Total short-term borrowings, net | 1,638,044 |  | 2,151,975
Short-term debt: |  |  |
At fixed interest rates | 1,536 |  | —
At floating interest rates | 85,065 |  | 42,255
Principal | 86,601 |  | 42,255
Less: Transaction costs | (40) |  | (5)
Total short-term debt, net | 86,561 |  | 42,250
Total short-term borrowings and debt | 1,724,605 |  | 2,194,225
Range of fixed interest rates on borrowings and debt in U.S. dollars | 5.44% to 6.50% |  | 1.53% to 6.52%
Range of floating interest rates on borrowings in U.S. dollars | 6.08% to 6.33% |  | 4.90% to 5.72%
Range of floating interest rates on borrowings and debt in Mexican pesos | 11.77% to 12.65% |  | 10.97% to 12.00%
Range of floating interest rates on borrowings and debt in Euros | 4.51% to 4.69% |  | — | %
Range of fixed interest rates on borrowings and debt in Japanese yen | — | % |  | 0.84% to 1.23%
The outstanding balances of short-term borrowings and debt by currency, excluding prepaid commissions, are as follows:
| December 31,
| 2023 |  | 2022
US dollar | 1,084,872 |  |  | 1,593,531 |
Mexican peso | 576,527 |  |  | 405,830 |
Euro | 63,508 |  |  | — |
Japanese yen | — |  |  | 196,245 |
Carrying amount - principal | 1,724,907 |  |  | 2,195,606 |
Schedule of Breakdown of Borrowings and Long-Term Debt (Original Maturity of More than One Year), Along with Contractual Interest Rates, plus Prepaid Commissions | The breakdown of long-term borrowings and debt (original maturity of more than one year), along with contractual interest rates, plus prepaid commissions are as follows:
| December 31,
| 2023 |  | 2022
Long-term borrowings: |  |  |
At fixed interest rates | — |  | 75,000
At floating interest rates with due dates from May 2024 to May 2026 | 537,775 |  | 575,275
Principal | 537,775 |  | 650,275
Less: Transaction costs | (1,904) |  | (2,952)
Total long-term borrowings, net | 535,871 |  | 647,323
Long-term debt: |  |  |
At fixed interest rates with due dates from March 2024 to November 2034 | 1,456,290 |  | 1,136,743
At floating interest rates with due dates from November 2024 to August 2028 | 641,530 |  | 443,984
Principal | 2,097,820 |  | 1,580,727
Less: Transaction costs | (6,308) |  | (5,764)
Total long-term debt, net | 2,091,512 |  | 1,574,963
Total long-term borrowings and debt, net | 2,627,383 |  | 2,222,286
Range of fixed interest rates on borrowings and debt in U.S. dollars | 1.35% to 6.15% |  | 0.80% to 5.81%
Range of floating interest rates on borrowings and debt in U.S. dollars | 6.32% to 7.31% |  | 4.96% to 6.04%
Range of fixed interest rates on borrowings and debt in Mexican pesos | 6.50% to 10.78% |  | 6.50% to 9.20%
Range of floating interest rates on borrowings and debt in Mexican pesos | 11.70% to 11.95% |  | 10.55% to 10.93%
Range of fixed interest rates on debt in Japanese yens | 0.40% to 1.35% |  | 0.40% to 1.27%
Range of fixed interest rates on debt in Euros | 0.90% to 3.75% |  | 0.23% to 3.75%
Range of fixed interest rates on debt in Australian dollars | 1.41% to 6.81% |  | 1.41% to 6.81%
Range of fixed interest rates on debt in Sterling pounds | 1.50 | % |  | 1.50 | %
Range of fixed interest rates on debt in Swiss francs | 0.35 | % |  | 0.35 | %
Long-term borrowings and debt (continued) The outstanding balances of long-term borrowings and debt by currency, excluding prepaid commissions, are as follows:
| December 31,
| 2023 |  | 2022
US dollar | 1,149,021 |  |  | 1,155,275 |
Mexican peso | 1,241,023 |  |  | 845,867 |
Euro | 88,018 |  |  | 111,095 |
Japanese yen | 113,642 |  |  | 76,513 |
Australian dollar | 27,286 |  |  | 26,968 |
Swiss franc | 11,889 |  |  | 10,820 |
Sterling pound | 4,716 |  |  | 4,464 |
Carrying amount - principal | 2,635,595 |  |  | 2,231,002 |
Schedule of Future Payments of Long-Term Borrowings and Debt Outstanding | Future payments of long-term borrowings and debt outstanding as of December 31, 2023, are as follows:
Year | Outstanding
2024 | 637,998 |
2025 | 1,005,496 |
2026 | 516,223 |
2027 | 311,123 |
2028 | 112,345 |
2029 | 42,162 |
2034 | 10,248 |
Carrying amount - principal | 2,635,595 |
Schedule of Reconciliation of Movements of Borrowings and Debt Arising Financing Activities Explanatory | The following table presents the reconciliation of movements of borrowings and debt arising from financing activities, as presented in the consolidated statement of cash flows :
| 2023 |  | 2022 |  | 2021
Balance as of January 1, | 4,416,511 |  |  | 3,304,178 |  |  | 1,966,271 |
Net (decrease) increase in short-term borrowings and debt | (500,650) |  |  | 579,065 |  |  | 1,196,710 |
Proceeds from long-term borrowings and debt | 496,342 |  |  | 1,038,110 |  |  | 266,640 |
Payments of long-term borrowings and debt | (221,306) |  |  | (536,792) |  |  | (97,520) |
Change in foreign currency rates | 157,440 |  |  | 45,460 |  |  | (27,528) |
Fair value adjustment due to hedge accounting relationship | 2,126 |  |  | (9,334) |  |  | (2,034) |
Other adjustments | 1,525 |  |  | (4,176) |  |  | 1,639 |
Balance as of December 31, | 4,351,988 |  |  | 4,416,511 |  |  | 3,304,178 |

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