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Financial Instruments (Tables) | 12 Months Ended
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Dec. 31, 2023
Financial Instruments |
Schedule of carrying value and estimated fair value of financial instruments | The carrying amount and estimated fair values of the Group’s non-derivative financial instruments as of December 31, 2023 and 2022, were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2023 | ​ | 2022
​ |  | Carrying Amount |  | Fair Value |  | Carrying Amount |  | Fair Value
Assets: |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​
Cash and cash equivalents | ​ | Ps. | 32,586,352 | ​ | Ps. | 32,586,352 | ​ | Ps. | 51,130,992 | ​ | Ps. | 51,130,992
Trade accounts receivable, net |  | ​ | 8,131,458 |  | ​ | 8,131,458 |  | ​ | 8,457,302 |  | ​ | 8,457,302
Long-term loan and interest receivable from GTAC (see Note 10) |  | ​ | 948,549 |  | ​ | 953,423 |  | ​ | 853,163 |  | ​ | 857,006
Open-Ended Fund (see Note 9) |  | ​ | 674,451 |  | ​ | 674,451 |  | ​ | 773,209 |  | ​ | 773,209
Publicly traded equity instruments (see Note 9) |  | ​ | 1,912,150 |  | ​ | 1,912,150 |  | ​ | 2,611,053 |  | ​ | 2,611,053
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities: |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​
Senior Notes due 2025, 2032 and 2040 |  | Ps. | 18,954,884 |  | Ps. | 20,432,901 |  | Ps. | 22,717,196 |  | Ps. | 24,313,064
Senior Notes due 2045 |  | ​ | 13,387,004 |  | ​ | 11,542,810 |  | ​ | 17,321,136 |  | ​ | 14,975,508
Senior Notes due 2037 and 2043 |  | ​ | 10,725,690 |  | ​ | 8,090,190 |  | ​ | 11,000,000 |  | ​ | 8,087,840
Senior Notes due 2026 and 2046 |  | ​ | 18,405,492 |  | ​ | 18,379,439 |  | ​ | 23,371,200 |  | ​ | 23,287,882
Senior Notes due 2049 |  | ​ | 11,191,163 |  | ​ | 10,035,228 |  | ​ | 13,675,853 |  | ​ | 12,199,681
Notes due 2027 |  | ​ | 4,500,000 |  | ​ | 4,233,150 |  | ​ | 4,500,000 |  | ​ | 4,238,640
Long-term loans payable to Mexican banks |  | ​ | 12,650,000 |  | ​ | 12,789,686 |  | ​ | 13,650,000 |  | ​ | 13,775,125
Lease liabilities | ​ | ​ | 7,291,550 | ​ | ​ | 7,334,492 | ​ | ​ | 8,369,072 | ​ | ​ | 8,497,104
​ The carrying amounts (based on estimated fair values), notional amounts, and maturity dates of the Group’s derivative financial instruments as of December 31, 2023 and 2022, were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Notional | ​ | ​
​ | ​ | ​ | ​ | ​ | Amount | ​ | ​
December 31, 2023: |  | Carrying |  | (U.S. Dollars in |  | ​
Derivative Financial Instruments |  | Amount |  | Thousands) |  | Maturity Date
Assets: |  |  | ​ | ​ |  | ​ | ​ |
Derivatives recorded as accounting hedges (cash flow hedges): | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swaps (a) | ​ | Ps. | 251,738 | ​ | Ps. | 10,000,000 | ​ | June 2024
Total assets | ​ | Ps. | 251,738 | ​ | ​ | ​ | ​ | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | Notional | ​ | ​
​ |  | ​ | ​ |  | Amount |  | ​
December 31, 2022: | ​ | Carrying | ​ | (U.S. Dollars in | ​ | ​
Derivative Financial Instruments | ​ | Amount | ​ | Thousands) | ​ | Maturity Date
Assets: |  |  | ​ | ​ |  | ​ | ​ |
Derivatives recorded as accounting hedges (cash flow hedges): |  |  | ​ | ​ |  | ​ | ​ |
Interest rate swaps (b) | ​ | Ps. | 11,237 | ​ | Ps. | 2,500,000 | ​ | February 2023
Interest rate swaps (a) | ​ | ​ | 532,344 | ​ | Ps. | 10,000,000 | ​ | June 2024
Total assets | ​ | Ps. | 543,581 | ​ | ​ | ​ | ​ | ​
Liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Derivatives not recorded as accounting hedges: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
TVI’s forwards (c) | ​ | Ps. | 7,650 | ​ | U.S.$ | 27,963 | ​ | January through June 2023
Empresas Cablevisión’s forwards (d) | ​ | ​ | 12,047 | ​ | U.S.$ | 38,649 | ​ | January through June 2023
Sky’s forwards (e) | ​ | ​ | 16,903 | ​ | U.S.$ | 58,000 | ​ | January through June 2023
Forwards (f) | ​ | ​ | 34,801 | ​ | U.S.$ | 113,388 | ​ | January through June 2023
Total liabilities | ​ | Ps. | 71,401 | ​ | ​ | ​ | ​ | ​
​
(a) | In June and July 2019 and October 2020, the Company entered into derivative transaction agreements (interest rate swaps) through June 2024, to hedge the variable interest rate exposure resulting from a Mexican peso loan of a total principal amount of Ps.10,000,000 as of December 31, 2023 and 2022. Under these agreements, the Company receives monthly payments based on aggregate notional amounts of Ps.10,000,000 as of December 31, 2023 and 2022, at an annual variable rate of 28 days of TIIE and makes monthly payments based on the same notional amount at an annual weighted average fixed rate of 6.7620%. The Company has recognized the change in fair value of this transaction as an accounting hedge and recorded a cumulative or income of Ps.220,127 in other comprehensive income or loss as of December 31, 2023. In 2023, the Company recorded a gain of Ps.457,522 in consolidated other finance income or expense.
(b) | In January 2018, the Company entered into derivative transaction agreements (interest rate swaps) through February 2023, to hedge the variable interest rate exposure resulting from a Mexican peso loan of a total principal amount of Ps.2,500,000. Under this transaction, the Company received monthly payments based on aggregate notional amount of Ps.2,500,000, at an annual variable rate of 28 days of TIIE and makes monthly payments based on the same notional amount at an annual fixed rate of 7.7485%. The Company recognized the change in fair value of this transaction as an accounting hedge and recorded a cumulative loss of Ps.19,612 in other comprehensive income or loss as of December 31, 2022. In 2022, the Company recorded a gain of Ps.387 in consolidated other finance income or expense.
(c) | As of December 31, 2022, TVI had foreign currency contracts (forwards) in the aggregate notional amount of U.S.$28.0 million at an average rate of Ps.20.0975. As a result of the change in fair value of these agreements in the year ended December 31, 2023, the Company recorded a loss of Ps.69,387 in consolidated other finance income or expense.
(d) | As of December 31, 2022, Empresas Cablevisión had foreign currency contracts (forwards) in the aggregate notional amount of U.S.$38.6 million at an average rate of Ps.20.1365. As a result of the change in fair value of these agreements in the year ended December 31, 2023, the Company recorded a loss of Ps.96,208 in consolidated other finance income or expense.
(e) | As of December 31, 2022, Sky had foreign currency contracts (forwards) in the aggregate notional amount of U.S.$58.0 million at an average rate of Ps.20.1170. As a result of the change in fair value of these agreements in the year ended December 31, 2023, the Company recorded a loss of Ps.144,811 in consolidated other finance income or expense.
(f) | As of December 31, 2022, the Company had foreign currency contracts (forwards) in the aggregate notional amount of U.S.$113.4 million at an average rate of Ps.20.1289. As a result of the change in fair value of these agreements, in the years ended December 31, 2023 and 2022, the Company recorded a loss of Ps.281,963 and Ps.66,690 in consolidated other finance income or expense, respectively.
Schedule of financial assets and liabilities measured at fair value | Financial assets and liabilities measured at fair value as of December 31, 2023 and 2022: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | Quoted Prices in |  | Internal Models |  | Internal Models
​ | ​ | Balance as of | ​ | Active Markets | ​ | with Significant | ​ | with Significant
​ | ​ | December 31, | ​ | for Identical | ​ | Observable | ​ | Unobservable
​ |  | 2023 |  | Assets (Level 1) |  | Inputs (Level 2) |  | Inputs (Level 3)
Assets: |  |  | ​ | ​ |  | ​ |  |  | ​ | ​ |  | ​
At FVOCIL: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Open-Ended Fund | ​ | Ps. | 674,451 | ​ | Ps. | — | ​ | Ps. | 674,451 | ​ | Ps. | —
Publicly traded equity instruments | ​ | ​ | 1,912,150 | ​ | ​ | 1,912,150 | ​ | ​ | — | ​ | ​ | —
Derivative financial instruments | ​ | ​ | 251,738 | ​ | ​ | — | ​ | ​ | 251,738 | ​ | ​ | —
Total | ​ | Ps. | 2,838,339 | ​ | Ps. | 1,912,150 | ​ | Ps. | 926,189 | ​ | Ps. | —
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Quoted Prices in | ​ | Internal Models |  | Internal Models
​ |  | Balance as of |  | Active Markets |  | with Significant | ​ | with Significant
​ | ​ | December 31, | ​ | for Identical | ​ | Observable | ​ | Unobservable
​ |  | 2022 |  | Assets (Level 1) |  | Inputs (Level 2) |  | Inputs (Level 3)
Assets: |  |  | ​ | ​ |  | ​ |  |  | ​ | ​ |  | ​
At FVOCIL: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Open-Ended Fund | ​ | Ps. | 773,209 | ​ | Ps. | — | ​ | Ps. | 773,209 | ​ | Ps. | —
Publicly traded equity instruments | ​ | ​ | 2,611,053 | ​ | ​ | 2,611,053 | ​ | ​ | — | ​ | ​ | —
Derivative financial instruments | ​ | ​ | 543,581 | ​ | ​ | — | ​ | ​ | 543,581 | ​ | ​ | —
Total | ​ | Ps. | 3,927,843 | ​ | Ps. | 2,611,053 | ​ | Ps. | 1,316,790 | ​ | Ps. | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Derivative financial instruments | ​ | Ps. | 71,401 | ​ | Ps. | — | ​ | Ps. | 71,401 | ​ | Ps. | —
Total | ​ | Ps. | 71,401 | ​ | Ps. | — | ​ | Ps. | 71,401 | ​ | Ps. | —
​

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