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Post-employment Benefits (Tables) | 12 Months Ended
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Dec. 31, 2019
Post-employment Benefits |
Schedule of actuarial assumptions-present value of defined benefit obligations |
|  | 2019 |  | 2018 |
Discount rate |  | 7.0 | % | 8.4 | %
Salary scale |  | 5.0 | % | 5.2 | %
Inflation rate |  | 3.5 | % | 3.7 | %
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, 2019 and 2018, is presented as follows:
|  |  |  |  | Seniority |  |  |
|  | Pensions |  | Premiums |  | 2019
Vested benefit obligations |  | Ps. | 449,752 |  | Ps. | 338,962 |  | Ps. | 788,714
Unvested benefit obligations |  |  | 1,890,108 |  |  | 168,786 |  |  | 2,058,894
Defined benefit obligations |  |  | 2,339,860 |  |  | 507,748 |  |  | 2,847,608
Fair value of plan assets |  |  | 1,051,076 |  |  | 328,420 |  |  | 1,379,496
Underfunded status of the plan assets |  | Ps. | 1,288,784 |  | Ps. | 179,328 |  | Ps. | 1,468,112
Post-employment benefit liability |  | Ps. | 1,288,784 |  | Ps. | 179,328 |  | Ps. | 1,468,112
|  |  |  |  | Seniority |  |  |
|  | Pensions |  | Premiums |  | 2018
Vested benefit obligations |  | Ps. | 312,454 |  | Ps. | 305,475 |  | Ps. | 617,929
Unvested benefit obligations |  |  | 1,721,772 |  |  | 137,826 |  |  | 1,859,598
Defined benefit obligations |  |  | 2,034,226 |  |  | 443,301 |  |  | 2,477,527
Fair value of plan assets |  |  | 1,108,176 |  |  | 406,854 |  |  | 1,515,030
Underfunded status of the plan assets |  | Ps. | 926,050 |  | Ps. | 36,447 |  | Ps. | 962,497
Post-employment benefit liability |  | Ps. | 926,050 |  | Ps. | 36,447 |  | Ps. | 962,497
Schedule of net periodic pension and seniority premium cost |
|  | 2019 |  | 2018
Service cost |  | Ps. | 131,662 |  | Ps. | 129,707
Interest cost |  |  | 193,344 |  |  | 170,653
Prior service cost for plan amendments |  |  | 46,846 |  |  | (8,613)
Interest on plan assets |  |  | (112,788) |  |  | (120,591)
Net periodic cost |  | Ps. | 259,064 |  | Ps. | 171,156
Schedule of defined benefit obligations, plan assets and funded status |
|  |  |  |  | Seniority |  |  |  |  |  |
|  | Pensions |  | Premiums |  | 2019 |  | 2018
Defined benefit obligations: |  |  |  |  |  |  |  |  |  |  |  |
Beginning of year |  | Ps. | 2,034,226 |  | Ps. | 443,301 |  | Ps. | 2,477,527 |  | Ps. | 2,419,153
Service cost |  |  | 81,483 |  |  | 50,179 |  |  | 131,662 |  |  | 129,707
Interest cost |  |  | 158,065 |  |  | 35,279 |  |  | 193,344 |  |  | 170,653
Benefits paid |  |  | (136,962) |  |  | (78,512) |  |  | (215,474) |  |  | (183,496)
Remeasurement of post-employment benefit obligations |  |  | 165,775 |  |  | 47,928 |  |  | 213,703 |  |  | (49,877)
Past service cost |  |  | 37,273 |  |  | 9,573 |  |  | 46,846 |  |  | (8,613)
End of year |  |  | 2,339,860 |  |  | 507,748 |  |  | 2,847,608 |  |  | 2,477,527
Fair value of plan assets: |  |  |  |  |  |  |  |  |  |  |  |
Beginning of year |  |  | 1,108,176 |  |  | 406,854 |  |  | 1,515,030 |  |  | 1,703,058
Return on plan assets |  |  | 82,002 |  |  | 30,786 |  |  | 112,788 |  |  | 120,591
Remeasurement on plan assets |  |  | (17,227) |  |  | (16,162) |  |  | (33,389) |  |  | (146,963)
Benefits paid |  |  | (121,875) |  |  | (93,058) |  |  | (214,933) |  |  | (161,656)
End of year |  |  | 1,051,076 |  |  | 328,420 |  |  | 1,379,496 |  |  | 1,515,030
Unfunded status of the plan assets |  | Ps. | 1,288,784 |  | Ps. | 179,328 |  | Ps. | 1,468,112 |  | Ps. | 962,497
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, 2019 and 2018, are as follows:
|  |  |  |  | Seniority |  |  |  |  |  |
|  | Pensions |  | Premiums |  | 2019 |  | 2018
Beginning of net post-employment liability (asset) |  | Ps. | 926,050 |  | Ps. | 36,447 |  | Ps. | 962,497 |  | Ps. | 716,095
Net periodic cost |  |  | 194,819 |  |  | 64,245 |  |  | 259,064 |  |  | 171,156
Remeasurement of post-employment benefits |  |  | 183,002 |  |  | 64,090 |  |  | 247,092 |  |  | 97,086
Benefits paid |  |  | (15,087) |  |  | 14,546 |  |  | (541) |  |  | (21,840)
Ending net post-employment liability |  | Ps. | 1,288,784 |  | Ps. | 179,328 |  | Ps. | 1,468,112 |  | Ps. | 962,497
The post-employment benefits as of December 31, 2019 and 2018 and remeasurements adjustments for the years ended December 31, 2019 and 2018, are summarized as follows:
|  | 2019 |  | 2018
Pensions: |  |  |  |  |  |
Defined benefit obligations |  | Ps. | 2,339,860 |  | Ps. | 2,034,226
Plan assets |  |  | 1,051,076 |  |  | 1,108,176
Unfunded status of plans |  |  | 1,288,784 |  |  | 926,050
Remeasurements adjustments (1) |  |  | 183,002 |  |  | 70,861
Seniority premiums: |  |  |  |  |  |
Defined benefit obligations |  | Ps. | 507,748 |  | Ps. | 443,301
Plan assets |  |  | 328,420 |  |  | 406,854
Unfunded status of plans |  |  | 179,328 |  |  | 36,447
Remeasurements adjustments (1) |  |  | 64,090 |  |  | 26,225
| (1) |  | On defined benefit obligations and plan assets.
Schedule of plan asset allocation |
|  | 2019 |  | 2018 |
Equity securities (1) |  | 28.6 | % | 29.1 | %
Fixed rate instruments |  | 71.4 | % | 70.9 | %
Total |  | 100.0 | % | 100.0 | %
| (1) |  | Included within plan assets at December 31, 2019 and 2018, are shares of the Company held by the trust with a fair value of Ps.136,963 and Ps.152,367, 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, 2019 and 2018:
|  |  |  |  | Quoted Prices in |  | Internal Models |  | Internal Models
|  | Balance as of |  | Active Markets |  | with Significant |  | with Significant
|  | December 31, |  | for Identical |  | Observable |  | Unobservable
|  | 2019 |  | Assets (Level 1) |  | Inputs (Level 2) |  | Inputs (Level 3)
Common Stocks (1) |  | Ps. | 136,963 |  | Ps. | 136,963 |  | Ps. | — |  | Ps. | —
Mutual funds (fixed rate instruments) (2) |  |  | 218,269 |  |  | 218,269 |  |  | — |  |  | —
Money market securities (3) |  |  | 766,181 |  |  | 766,181 |  |  | — |  |  | —
Other equity securities |  |  | 258,083 |  |  | 258,083 |  |  | — |  |  | —
Total investment assets |  | Ps. | 1,379,496 |  | Ps. | 1,379,496 |  | Ps. | — |  | Ps. | —
|  |  |  |  | Quoted Prices in |  | Internal Models |  | Internal Models
|  | Balance as of |  | Active Markets |  | with Significant |  | with Significant
|  | December 31, |  | for Identical |  | Observable |  | Unobservable
|  | 2018 |  | Assets (Level 1) |  | Inputs (Level 2) |  | Inputs (Level 3)
Common Stocks (1) |  | Ps. | 152,367 |  | Ps. | 152,367 |  | Ps. | — |  | Ps. | —
Mutual funds (fixed rate instruments) (2) |  |  | 208,565 |  |  | 208,565 |  |  | — |  |  | —
Money market securities (3) |  |  | 880,808 |  |  | 880,808 |  |  | — |  |  | —
Other equity securities |  |  | 273,290 |  |  | 273,290 |  |  | — |  |  | —
Total investment assets |  | Ps. | 1,515,030 |  | Ps. | 1,515,030 |  | 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 |
|  | 2019 |  | 2018 |
Seniority Premiums |  | 8.2 | years | 8.4 | years
Pensions |  | 7.0 | years | 8.0 | years

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- Definition The disclosure of additional information about defined benefit plans necessary to meet the objectives of IAS 19. [Refer: Defined benefit plans [member]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 19 -IssueDate 2019-01-01 -Paragraph 137 -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=19&code=ifrs-tx-2019-en-r&anchor=para_137&doctype=Standard -URIDate 2019-03-27 + Details
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- Definition The disclosure of an analysis of the present value of a defined benefit obligation that distinguishes the nature, characteristics and risks of the obligation. Such a disclosure could distinguish: (a) between amounts owing to active members, deferred members, and pensioners; (b) between vested benefits and accrued but not vested benefits; and (c) between conditional benefits, amounts attributable to future salary increases and other benefits. [Refer: Defined benefit obligation, at present value] + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Name IAS -Number 19 -IssueDate 2019-01-01 -Paragraph 137 -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=19&code=ifrs-tx-2019-en-r&anchor=para_137&doctype=Standard -URIDate 2019-03-27 + Details
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- Definition The disclosure of the fair value of defined benefit plan assets. [Refer: Plan assets [member]; Defined benefit plans [member]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 19 -IssueDate 2019-01-01 -Paragraph 142 -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=19&code=ifrs-tx-2019-en-r&anchor=para_142&doctype=Standard -URIDate 2019-03-27 + Details
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- Definition The disclosure of information about the maturity profile of a defined benefit obligation. This will include the weighted average duration of the defined benefit obligation and may include other information about the distribution of the timing of benefit payments, such as a maturity analysis of the benefit payments. [Refer: Defined benefit obligation, at present value] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 19 -IssueDate 2019-01-01 -Paragraph 147 -Subparagraph c -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=19&code=ifrs-tx-2019-en-r&anchor=para_147_c&doctype=Standard -URIDate 2019-03-27 + Details
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- Definition The disclosure of a net defined benefit liability (asset). [Refer: Net defined benefit liability (asset)] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 19 -IssueDate 2019-01-01 -Paragraph 140 -Subparagraph a -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=19&code=ifrs-tx-2019-en-r&anchor=para_140_a&doctype=Standard -URIDate 2019-03-27 + Details
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- Definition The disclosure of a sensitivity analysis for significant actuarial assumptions used to determine the present value of a defined benefit obligation. [Refer: Actuarial assumptions [member]; Defined benefit obligation, at present value] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 19 -IssueDate 2019-01-01 -Paragraph 145 -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=19&code=ifrs-tx-2019-en-r&anchor=para_145&doctype=Standard -URIDate 2019-03-27 + Details
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- Definition Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. + References No definition available. + Details
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