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Post-employment Benefits (Tables)

12 Months Ended

Dec. 31, 2017

Post-employment Benefits

Schedule of actuarial assumptions-present value of defined benefit obligations

		2017		2016
Discount rate		7.6	%	6.7	%
Salary scale		5	%	5	%
Inflation rate		3.5	%	3.5	%

Schedule of reconciliation between defined benefit obligations and post-employment benefit liability (asset)

The reconciliation between defined benefit obligations and post-employment benefit liability (asset) in the consolidated statements of financial position as of December 31, 2017 and 2016, is presented as follows:

		Pensions			Seniority Premiums			2017
Vested benefit obligations		Ps.	394,788		Ps.	324,400		Ps.	719,188
Unvested benefit obligations		1,579,238			120,727			1,699,965
Defined benefit obligations		1,974,026			445,127			2,419,153
Fair value of plan assets		1,240,732			462,326			1,703,058
Underfunded (overfunded) status of the plan assets		733,294			(17,199		)	716,095
Post-employment benefit liability (asset)		Ps.	733,294		Ps.	(17,199	)	Ps.	716,095

		Pensions			Seniority Premiums			2016
Vested benefit obligations		Ps.	332,024		Ps.	321,391		Ps.	653,415
Unvested benefit obligations		1,734,605			126,215			1,860,820
Defined benefit obligations		2,066,629			447,606			2,514,235
Fair value of plan assets		1,381,896			611,866			1,993,762
Underfunded (overfunded) status of the plan assets		684,733			(164,260		)	520,473
Post-employment benefit liability (asset)		Ps.	684,733		Ps.	(164,260	)	Ps.	520,473

Schedule of net periodic pension and seniority premium cost

		2017			2016
Service cost		Ps.	132,055		Ps.	125,952
Interest cost		149,100			144,465
Prior service cost for plan amendments		2,405			(195,396		)
Interest of assets		(124,655		)	(128,365		)
Net cost		Ps.	158,905		Ps.	(53,344	)

Schedule of defined benefit obligations, plan assets and funded status

		Pensions			Seniority Premiums			2017			2016
Defined benefit obligations:
Beginning of year		Ps.	2,066,629		Ps.	447,606		Ps.	2,514,235		Ps.	2,471,725
Service cost		83,246			48,809			132,055			125,952
Interest cost		120,737			28,363			149,100			144,465
Benefits paid		(307,645		)	(261,845		)	(569,490		)	(244,560			)
Remeasurement of post-employment benefit obligations		11,059			179,789			190,848			212,049
Past service cost		—			2,405			2,405			(195,396			)
End of year		1,974,026			445,127			2,419,153			2,514,235
Fair value of plan assets:
Beginning of year		1,381,896			611,866			1,993,762			2,064,546
Remeasurement return on plan assets		85,430			39,225			124,655			128,365
Remeasurement of post-employment benefit obligations		(73,870		)	(19,939		)	(93,809		)	(70,471			)
Benefits paid		(152,724		)	(168,826		)	(321,550		)	(128,678			)
End of year		1,240,732			462,326			1,703,058			1,993,762
Unfunded (overfunded) status of the plan assets		Ps.	733,294		Ps.	(17,199	)	Ps.	716,095		Ps.		520,473

Schedule of post-employment benefits

The changes in the net post-employment liability (asset) in the consolidated statements of financial position as of December 31, 2017 and 2016, are as follows:

		Pensions			Seniority Premiums			2017			2016
Beginning of net post-employment liability (asset)		Ps.	684,733		Ps.	(164,260	)	Ps.	520,473		Ps.	407,179
Net periodic cost		118,553			40,352			158,905			(53,344		)
Remeasurement of post-employment benefits		84,929			199,728			284,657			282,520
Benefits paid		(154,921		)	(93,019		)	(247,940		)	(115,882		)
Ending net post-employment liability (asset)		Ps.	733,294		Ps.	(17,199	)	Ps.	716,095		Ps.	520,473

The post-employment benefits as of December 31, 2017 and 2016 and remeasurements adjustments for the years ended December 31, 2017 and 2016, are summarized as follows:

		2017			2016
Pensions:
Defined benefit obligations		Ps.	1,974,026		Ps.	2,066,629
Plan assets		1,240,732			1,381,896
Unfunded status of plans		733,294			684,733
Remeasurements adjustments(1)		84,929			181,161
Seniority premiums:
Defined benefit obligations		Ps.	445,127		Ps.	447,606
Plan assets		462,326			611,866
Unfunded status of plans		(17,199		)	(164,260		)
Remeasurements adjustments(1)		199,728			101,359

(1) On defined benefit obligations and plan assets.

Schedule of plan asset allocation

		2017		2016
Equity securities(1)		29.6	%	28.2	%
Fixed rate instruments		70.4	%	71.8	%
Total		100.0	%	100.0	%

(1) Included within plan assets at December 31, 2017 and 2016, are shares of the Company held by the trust with a fair value of Ps.227,004 and Ps.265,599, respectively.

Schedule of plan assets measured at fair value

The following table summarizes the Group’s plan assets measured at fair value on a recurring basis as of December 31, 2017 and 2016:

		Balance as of  December 31, 2017			Quoted Prices in  Active Markets for  Identical Assets  (Level 1)			Internal Models  with Significant  Observable Inputs  (Level 2)			Internal Models  with Significant  Unobservable  Inputs (Level 3)
Common Stocks(1)		Ps.	227,004		Ps.	227,004		Ps.	—		Ps.	—
Mutual funds (fixed rate instruments)(2)		300,549			300,549			—			—
Money market securities(3)		912,626			912,626			—			—
Other equity securities		262,879			262,879			—			—
Total investment assets		Ps.	1,703,058		Ps.	1,703,058		Ps.	—		Ps.	—

		Balance as of  December 31, 2016			Quoted Prices in  Active Markets for  Identical Assets  (Level 1)			Internal Models  with Significant  Observable Inputs  (Level 2)			Internal Models  with Significant  Unobservable  Inputs (Level 3)
Common Stocks(1)		Ps.	265,599		Ps.	265,599		Ps.	—		Ps.	—
Mutual funds (fixed rate instruments)(2)		434,323			434,323			—			—
Money market securities(3)		1,013,674			1,013,674			—			—
Other equity securities		280,166			280,166			—			—
Total investment assets		Ps.	1,993,762		Ps.	1,993,762		Ps.	—		Ps.	—

(1) Common stocks are valued at the closing price reported on the active market on which the individual securities are traded. All common stock included in this line item relate to the Company’s CPOs.

(2) Mutual funds consist of fixed rate instruments. These are valued at the net asset value provided by the administrator of the fund.

(3) Money market securities consist of government debt securities, which are valued based on observable prices from the new issue market, benchmark quotes, secondary trading and dealer quotes.

Schedule of the weighted average durations of the defined benefit plans

		2017		2016
Seniority Premiums		7.9 years		14.5 years
Pensions		9.7 years		12.3 years

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The disclosure of additional information about defined benefit plans necessary to meet the objectives of IAS 19. [Refer: Defined benefit plans [member]]

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