0000000000-23-007579.txt : 20240116 0000000000-23-007579.hdr.sgml : 20240116 20230717113006 ACCESSION NUMBER: 0000000000-23-007579 CONFORMED SUBMISSION TYPE: UPLOAD PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20230717 FILED FOR: COMPANY DATA: COMPANY CONFORMED NAME: MEXICAN ECONOMIC DEVELOPMENT INC CENTRAL INDEX KEY: 0001061736 STANDARD INDUSTRIAL CLASSIFICATION: BOTTLED & CANNED SOFT DRINKS CARBONATED WATERS [2086] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 000000000 STATE OF INCORPORATION: O5 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: UPLOAD BUSINESS ADDRESS: STREET 1: GENERAL ANAYA NO 601 PTE STREET 2: COLONIA BELLA VISTA CITY: MONTERREY, N.L. STATE: O5 ZIP: 64410 BUSINESS PHONE: 528183286167 MAIL ADDRESS: STREET 1: GENERAL ANAYA NO 601 PTE STREET 2: COLONIA BELLA VISTA CITY: MONTERREY, N.L. 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General Anaya No. 601 Pte. Colonia Bella Vista Monterrey, Nuevo Le n 64410, M xico Re: Mexican Economic Development, Inc. Form 20-F for the Fiscal Year Ended December 31, 2022 Filed April 24, 2023 File No. 001-35934 Dear Alejandro Ortiz: We have limited our review of your filing to the financial statements and related disclosures and have the following comment. In our comment, we may ask you to provide us with information so we may better understand your disclosure. Please respond to this comment within ten business days by providing the requested information or advise us as soon as possible when you will respond. If you do not believe our comment applies to your facts and circumstances, please tell us why in your response. After reviewing your response to this comment, we may have additional comments. Form 20-F for the Fiscal Year Ended December 31, 2022 Financial Statements Note 3.18 Intangible Assets, page F-33 1. We note your accounting policy and disclosures regarding your treatment of TCCC bottling agreement intangible assets as indefinite lived intangible assets even though they have a stated term of 10 years and contain a 10 year renewal right. We also note your policy may be inconsistent with other entities with similar assets. Please refer to paragraph 94 of IAS 38 and more fully explain to us why you believe your accounting policy is appropriate and consistent with IFRS, given the stated term of the agreements. In addition, please explain to us the process and expected costs of renewing the agreements at the end of their 10 year term and how you concluded renewals are essentially perpetual in nature. Alejandro Ortiz Mexican Economic Development, Inc. July 17, 2023 Page 2 In closing, we remind you that the company and its management are responsible for the accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or absence of action by the staff. You may contact Dale Welcome at 202-551-3865 or Kevin Stertzel at 202-551-3723 with any questions. FirstName LastNameAlejandro Ortiz Sincerely, Comapany NameMexican Economic Development, Inc. Division of Corporation Finance July 17, 2023 Page 2 Office of Manufacturing FirstName LastName