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Fair value measurements (Tables) | 12 Months Ended
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Dec. 31, 2020
Fair value measurements |
Schedule of carrying amounts and fair values of financial instruments |
|  | Carrying amount |  | Fair value
|  | 2020 |  | 2019 |  | 2020 |  | 2019
Assets |  |  |  |  |  |  |  |  |  |  |  |
Derivative financial instruments |  | Ps. | 532 |  | Ps. | 136,262 |  | Ps. | 532 |  | Ps. | 136,262
Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Financial debt |  |  | (5,350,612) |  |  | (5,008,509) |  |  | (5,527,332) |  |  | (5,194,316)
Derivative financial instruments |  |  | (9,657) |  |  | — |  |  | (9,657) |  |  | —
Total |  | Ps. | (5,359,737) |  | Ps. | (4,872,247) |  | Ps. | (5,536,457) |  | Ps. | (5,058,054)
The following table summarizes the fair value measurements at December 31, 2020:
|  | Fair value measurement
|  | Quoted prices |  | Significant |  | Significant |  |  |
|  | in active |  | observable |  | unobservable |  |  |
|  | markets |  | inputs |  | inputs |  |  |
|  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets |  |  |  |  |  |  |  |  |  |  |  |
Derivatives financial instruments: |  |  |  |  |  |  |  |  |  |  |  |
Jet fuel Asian call options contracts* |  | Ps. | — |  | Ps. | 206 |  | Ps. | — |  | Ps. | 206
Interest rate Caps |  |  | — |  |  | 326 |  |  | — |  |  | 326
Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Derivatives financial instruments:Jet fuel Asian Zero-Cost collars options contracts* |  |  | — |  |  | (9,657) |  |  | — |  |  | (9,657)
Liabilities for which fair values are disclosed: |  |  |  |  |  |  |  |  |  |  |  |
Interest-bearing loans and borrowings** |  |  | — |  |  | (5,527,332) |  |  | — |  |  | (5,527,332)
Net |  | Ps. | — |  | Ps. | (5,536,457) |  | Ps. | — |  | Ps. | (5,536,457)
* Jet fuel forwards levels and LIBOR curve. ** LIBOR curve and TIIE Mexican interbank rate. Includes short-term and long-term debt. There were no transfers between level 1 and level 2 during the period. The following table summarizes the fair value measurements at December 31, 2019:
|  | Fair value measurement
|  | Quoted prices |  | Significant |  | Significant |  |
|  | in active |  | observable |  | unobservable |  |
|  | markets |  | inputs |  | inputs |  |
|  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets |  |  |  |  |  |  |  |  |  |  |  |
Derivatives financial instruments: |  |  |  |  |  |  |  |  |  |  |  |
Jet fuel Zero-Cost collar options contracts* |  | Ps. | — |  | Ps. | 133,567 |  | Ps. | — |  | Ps. | 133,567
Interest rate Caps |  |  | — |  |  | 2,695 |  |  | — |  |  | 2,695
Liabilities for which fair values are disclosed: |  |  |  |  |  |  |  |  |  |  |  |
Interest-bearing loans and borrowings** |  |  | — |  |  | (5,194,316) |  |  | — |  |  | (5,194,316)
Net |  | Ps. | — |  | Ps. | (5,058,054) |  | Ps. | — |  | Ps. | (5,058,054)
* Jet fuel forwards levels and LIBOR curve. ** LIBOR curve and TIIE Mexican interbank rate. Includes short-term and long-term debt. There were no transfers between level 1 and level 2 during the period.
Schedule of (loss) gain on derivatives recognized in consolidated statements of operations and comprehensive income | The following table summarizes the (loss) gain from derivatives financial instruments recognized in the consolidated statements of operations for the years ended December 31, 2020, 2019 and 2018:
Instrument |  | Financial statements line |  | 2020 |  | 2019 |  | 2018
Jet fuel Asian call options contracts |  | Fuel |  | Ps. | (20,646) |  | Ps. | (61,069) |  | Ps. | 402,493
Jet fuel Zero-Cost collars contracts |  | Fuel |  |  | (835,884) |  |  | (9,477) |  |  | —
Jet fuel Asian call options contracts |  | Finance cost |  |  | (12,981) |  |  | — |  |  | —
Jet fuel Zero-Cost collars contracts |  | Finance cost |  |  | (435,578) |  |  | — |  |  | —
Foreign currency forward |  | Aircraft and engine rent expenses |  |  | — |  |  | 4,199 |  |  | 52,516
Interest rate cap |  | Finance cost |  |  | (1,468) |  |  | (1,282) |  |  | —
Total |  |  |  | Ps. | (1,306,557) |  | Ps. | (67,629) |  | Ps. | 455,009
The following table summarizes the net gain (loss) on CFH before taxes recognized in the consolidated statements of comprehensive income for the years ended December 31, 2020, 2019 and 2018: Consolidated statements of other comprehensive (loss) income
|  | Financial |  |  |  |  |  |  |  |  |
Instrument |  | statements line |  | 2020 |  | 2019 |  | 2018
Jet fuel Asian call options contracts |  | OCI |  | Ps. | (11,993) |  | Ps. | 11,148 |  | Ps. | (174,984)
Jet fuel Zero cost collars |  | OCI |  |  | (143,224) |  |  | 256,515 |  |  | (122,948)
Foreign currency contracts |  | OCI |  |  | — |  |  | (14,241) |  |  | 14,241
Interest rate cap |  | OCI |  |  | (900) |  |  | (4,023) |  |  | —
Non derivative financial instruments |  | OCI |  |  | (1,591,569) |  |  | 14,096 |  |  | —
Total |  |  |  | Ps. | (1,747,686) |  | Ps. | 263,495 |  | Ps. | (283,691)

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