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Retained Earnings and Accumulated Other Comprehensive Income | 12 Months Ended
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Dec. 31, 2019
Retained Earnings and Accumulated Other Comprehensive Income |
Retained Earnings and Accumulated Other Comprehensive Income | 18.Retained Earnings and Accumulated Other Comprehensive Income (a) Retained Earnings:
|  |  |  |  | Unappropriated |  | Net Income for |  | Retained
|  | Legal Reserve |  | Earnings |  | the Year |  | Earnings
Balance at January 1, 2018 |  | Ps. | 2,139,007 |  | Ps. | 68,320,153 |  | Ps. | 4,524,496 |  | Ps. | 74,983,656
Appropriation of net income relating to 2017 |  |  | — |  |  | 4,524,496 |  |  | (4,524,496) |  |  | —
Cumulative adjustment for adoption of IFRS 9-Expected credit losses (see Note 28) |  |  | — |  |  | (167,028) |  |  | — |  |  | (167,028)
Cumulative adjustment for adoption of IFRS 9-New classification of financial instruments (see Note 28) |  |  | — |  |  | (827,932) |  |  | — |  |  | (827,932)
Cumulative adjustment for adoption of IFRS 15 (see Note 28) |  |  | — |  |  | 1,599,452 |  |  | — |  |  | 1,599,452
Acquisition of non-controlling interests |  |  | — |  |  | (183,041) |  |  | — |  |  | (183,041)
Dividends paid relating to 2017 |  |  | — |  |  | (1,068,868) |  |  | — |  |  | (1,068,868)
Share cancellation |  |  | — |  |  | (2,694,201) |  |  | — |  |  | (2,694,201)
Sale of repurchased shares |  |  | — |  |  | (446,542) |  |  | — |  |  | (446,542)
Share-based compensation |  |  | — |  |  | 1,305,999 |  |  | — |  |  | 1,305,999
Net income for the year 2018 |  |  | — |  |  | — |  |  | 6,009,414 |  |  | 6,009,414
Balance at December 31, 2018 |  |  | 2,139,007 |  |  | 70,362,488 |  |  | 6,009,414 |  |  | 78,510,909
Appropriation of net income relating to 2018 |  |  | — |  |  | 6,009,414 |  |  | (6,009,414) |  |  | —
Acquisition of non-controlling interests |  |  | — |  |  | 766 |  |  | — |  |  | 766
Dividends paid relating to 2018 |  |  | — |  |  | (1,066,187) |  |  | — |  |  | (1,066,187)
Net gain on partial disposition of Open Ended Fund |  |  | — |  |  | 837,520 |  |  | — |  |  | 837,520
Sale of repurchased shares |  |  | — |  |  | (1,585,963) |  |  | — |  |  | (1,585,963)
Share-based compensation |  |  | — |  |  | 1,108,094 |  |  | — |  |  | 1,108,094
Net income for the year 2019 |  |  | — |  |  | — |  |  | 4,626,139 |  |  | 4,626,139
Balance at December 31, 2019 |  | Ps. | 2,139,007 |  | Ps. | 75,666,132 |  | Ps. | 4,626,139 |  | Ps. | 82,431,278
In accordance with Mexican law, the legal reserve must be increased by 5% of annual net profits until it reaches 20% of the capital stock amount. As of December 31, 2019 and 2018, the Company’s legal reserve amounted to Ps.2,139,007 and Ps.2,139,007, respectively and was classified into retained earnings in consolidated equity. As the legal reserve reached 20% of the capital stock amount, no additional increases were required in 2019, 2018 and 2017. This reserve is not available for dividends, but may be used to reduce a deficit or may be transferred to stated capital. Other appropriations of profits require the vote of the Company’s stockholders. In April 2017, the Company’s stockholders approved the payment of a dividend of Ps.0.35 per CPO and Ps.0.002991452991 per share of Series “A”, “B”, “D” and “L” Shares, not in the form of a CPO, which was paid in cash in May 2017 in the aggregate amount of Ps.1,084,192 (see Note 17). In April 2018, the Company’s stockholders approved for the payment of a dividend of Ps.0.35 per CPO and Ps.0.002991452991 per share of Series “A”, “B”, “D” and “L” Shares, not in the form of a CPO, which was paid in May 2018 in the aggregate amount of Ps.1,068,868 (see Note 17). In April 2019, the Company’s stockholders approved for the payment of a dividend of Ps.0.35 per CPO and Ps.0.002991452991 per share of Series “A,” “B,” “D” and “L” Shares, not in the form of a CPO, which was paid in May 2019 in the aggregate amount of Ps.1,066,187 (see Note 17). Dividends, either in cash or in other forms, paid by the Mexican companies in the Group will be subject to income tax if the dividends are paid from earnings that have not been subject to Mexican income tax computed on an individual company basis under the provisions of the Mexican Income Tax Law. In this case, dividends will be taxable by multiplying such dividends by a 1.4286 factor and applying to the resulting amount the income tax rate of 30%. This income tax will be paid by the company paying the dividends. In addition, the entities that distribute dividends to its stockholders who are individuals or foreign residents must withhold 10% thereof for income tax purposes, which will be paid in Mexico. The foregoing will not be applicable when distributed dividends arise from the “taxed net earnings account” computed on an individual company basis generated through December 31, 2013. As of December 31, 2019, cumulative earnings that have been subject to income tax and can be distributed by the Company free of Mexican income tax amounted to Ps.70,758,656. (b) Accumulated Other Comprehensive Income:
|  |  |  |  |  |  |  |  |  |  |  |  |  | Exchange |  | Remeasurement |  | Derivative |  | Share of |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  | Warrants |  | Differences on |  | of Post- |  | Financial |  | Income (Loss) |  |  |  |  |  |
|  |  |  |  | Other |  |  |  |  | Exercisable for |  | Translating |  | Employment |  | Instruments |  | of Associates |  |  |  |  |  |
|  | Open Ended |  | Equity |  | Other Financial |  | Common Stock |  | Foreign |  | Benefit |  | Cash Flow |  | and Joint |  |  |  |  |  |
Changes |  | Fund |  | Instruments |  | Assets |  | of UHI |  | Operations |  | Obligations |  | Hedges |  | Ventures |  | Income Tax |  | Total
Accumulated at January 1, 2018 |  | Ps. | 3,750,658 |  | Ps. | — |  | Ps. | — |  | Ps. | (612,664) |  | Ps. | 1,651,047 |  | Ps. | (665,739) |  | Ps. | 802,017 |  | Ps. | 208,057 |  | Ps. | (534,229) |  | Ps. | 4,599,147
Cumulative adjustment for adoption of IFRS 9-New classification of financial instruments (see Note 28) |  |  | — |  |  | 1,182,760 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (354,828) |  |  | 827,932
Changes in other comprehensive income |  |  | 215,957 |  |  | 603,766 |  |  | (111) |  |  | (1,347,698) |  |  | (836,740) |  |  | (98,096) |  |  | 174,532 |  |  | (47,313) |  |  | 336,111 |  |  | (999,592)
Accumulated at December 31, 2018 |  |  | 3,966,615 |  |  | 1,786,526 |  |  | (111) |  |  | (1,960,362) |  |  | 814,307 |  |  | (763,835) |  |  | 976,549 |  |  | 160,744 |  |  | (552,946) |  |  | 4,427,487
Partial disposition of Open Ended Fund |  |  | (1,186,130) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 348,610 |  |  | (837,520)
Remeasurement of post-employment benefit obligations of assets held for sale |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (1,721) |  |  | — |  |  | — |  |  | 516 |  |  | (1,205)
Changes in other comprehensive income |  |  | (351,202) |  |  | (794,624) |  |  | 111 |  |  | 257,306 |  |  | (79,631) |  |  | (244,576) |  |  | (1,521,912) |  |  | (236,159) |  |  | 702,376 |  |  | (2,268,311)
Accumulated at December 31, 2019 |  | Ps. | 2,429,283 |  | Ps. | 991,902 |  | Ps. | — |  | Ps. | (1,703,056) |  | Ps. | 734,676 |  | Ps. | (1,010,132) |  | Ps. | (545,363) |  | Ps. | (75,415) |  | Ps. | 498,556 |  | Ps. | 1,320,451

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