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Equity Method Accounted Investees
 12 Months Ended
Dec. 31, 2022
Investments in subsidiaries, joint ventures and associates reported in separate financial statements [abstract]  
Equity Method Accounted Investees Equity Method Accounted Investees
As of December 31, 2022 and 2021, Company’s equity method accounted investees are as follows:

Ownership PercentageCarrying Value
Investee    Principal Activity    Place of Incorporation    December 31, 2022December 31, 2021December 31, 2022December 31, 2021
Heineken (1) (2)
 Beverages The Netherlands 14.8%14.8%Ps.92,282Ps.96,349
Coca-Cola FEMSA:   
Joint ventures:   
Dispensadoras de Café, S.A.P.I. de C.V. Services Mexico 50.0%50.0%189183
Fountain Agua Mineral, L.T.D.A. Beverages Brazil 50.0%50.0%752699
Planta Nueva Ecología De Tabasco, S.A. de C.V.RecyclingMexico50.0%50.0%57818
Associates:   
Promotora Industrial Azucarera, S.A. de C.V. (“PIASA”) Sugar productionMexico 36.4%36.4%3,6323,348
Industria Envasadora de Querétaro, S.A. de C.V. (“IEQSA”) Canned bottling Mexico 26.5%26.5%157178
Industria Mexicana de Reciclaje, S.A. de C.V. (“IMER”) Recycling Mexico 35.0%35.0%100102
Jugos del Valle, S.A.P.I. de C.V. Beverages Mexico 29.3%28.8%2,2672,128
Leao Alimentos e Bebidas, L.T.D.A. Beverages Brazil 25.1%24.7%388404
TROP Frutas do Brasil S.A. (“TROP”)Beverages Brazil23.9%23.6%1355
Alimentos de Soja S.A.U.BeveragesArgentina10.7%10.7%282263
Other investments in Coca-Cola FEMSA Various Various VariousVarious94116
Proximity Division - Americas:   
Raizen Conveniências Proximity Brazil 50.0%50.0%2,3712,567
Other investments (1) (3)
 Various Various VariousVarious564889
Ps.103,669Ps.107,299
(1)Associate.
(2)As of December 31, 2022 and 2021 comprised of 8.63% of Heineken, N.V. and 12.26% of Heineken Holding, N.V., which represents an economic interest of 14.76% in Heineken Group. The Company has significant influence, mainly, because it participates in the Board of Directors of Heineken Holding, N.V. and the Supervisory Board of Heineken N.V.; and for the material transactions between the Company and Heineken Group (see Note 30).
(3)Joint ventures.

During 2022, Coca-Cola FEMSA's ownership in Jugos del Valle, S.A.P.I. de C.V. increased due to a corporate reestructuring and its ownership in Leao Alimentos e Bebidas, LTDA, Trop Frutas do Brasil, LTDA increased due to the acquisition of CVI.

During 2022 and 2021 Coca-Cola FEMSA received dividends from Industria Envasadora de Querétaro, S.A. de C.V. ("IEQSA") for the amount of Ps. 16 and Ps. 16, respectively.

During 2022 Coca-Cola FEMSA made capital contributions to Planta Nueva Ecología de Tabasco S.A. de C.V. for the amounts of Ps. 560, and there were no changes in the ownership percentage as a result of capital contributions made by the other shareholders.
During 2021 Coca-Cola FEMSA made capital contributions to Jugos del Valle, S.A.P.I. de C.V. for the amount of Ps. 44 and there were no changes in the ownership percentage as a result of capital contributions made by the other shareholders. During 2021 Coca-Cola FEMSA reduced its capital on Leao Alimentos y Bebidas LTDA. for the amount of Ps. 46, and there were no changes in the ownership percentage as a result of the capital reduction.
During 2021, Coca-Cola FEMSA recognized an impairment on its investment in Trop Frutas Do Brasil LTDA. for the amount of Ps. 250.

During 2020 Coca-Cola FEMSA recognized impairments on its investment in Compañía Panameña de Bebidas, S.A.P.I. de C.V. and Leao Alimentos y Bebidas LTDA. for the amounts of Ps. 1,463 and Ps. 1,038, respectively.
On September 30, 2020, Coca-Cola FEMSA announced that its joint venture with The Coca-Cola Company (Compañía Panameña de Bebidas, S.A.P.I. de C.V.) successfully sold 100% of its stock interest in Estrella Azul, a dairy products company in Panama. As part of the transaction, Coca-Cola FEMSA agreed with the buyer that it could receive payments in the future if the business of Estrella Azul achieves certain volume and EBITDA targets during the 2022-2027 period. Coca-Cola FEMSA estimated the amount of the payments to be received based on the forecasts of the business and calculated their net present value. As of December 31, 2022 and 2021, the financial asset recognized in the consolidated statement of financial position has a total value of Ps. 5 and Ps. 5, respectively. This transaction is presented in the other expenses line of the consolidated financial statements. Coca-Cola FEMSA concluded it did not achieve the requirements to be considered as a discontinued operation under IFRS 5.
On April 30, 2010, the Company acquired an economic interest of 20% of Heineken Group. Heineken’s main activities are the production, distribution and marketing of beer worldwide. On September 18, 2017, the Company concluded the sale of a portion of its investment, representing 5.2% combined economic interest, consisting of 22,485,000 Heineken N.V. shares and 7,700,000 Heineken Holding N.V. shares at the price of €. 84.50 and €. 78.00 per share, respectively.
The Company recognized an equity income (loss) of Ps. 7,359, Ps. 10,775 and Ps. (434) net of taxes based on its economic interest in Heineken Group for the years ended December 31, 2022, 2021 and 2020, respectively. The economic interest as of December 31, 2022 and 2021 was 14.8%. The Company’s share of the net income (loss) attributable to equity holders of Heineken Group exclusive of amortization of adjustments amounted to Ps. 8,316 (€.396 million), Ps. 11,635 (€. 491 million) and Ps. (842) (€.(30) million), for the years ended December 31, 2022, 2021 and 2020, respectively.

Summarized financial information in respect of the associate Heineken Group accounted for under the equity method is set out below.
December 31, 2022December 31, 2021
Amounts in millions    PesoEuroPesoEuro
Total current assets Ps.227,481€.11,015Ps.222,653€.9,578
Total non-current assets 854,80341,391912,92939,272
Total current liabilities 293,05014,190281,14112,094
Total non-current liabilities 336,54316,296396,48917,056
Total equity 452,69021,920457,95219,700
Equity attributable to equity holders 403,76519,551403,46317,356
Total revenue and other income Ps.598,072€.28,866Ps.555,269€.23,462
Total cost and expenses 509,33324,583449,17118,979
Net income Ps.62,965€.3,039Ps.83,662€.3,535
Net income attributable to equity holders 55,5682,68278,6683,324
Other comprehensive income 6,25730231,7131,340
Total comprehensive income Ps.69,222€.3,341Ps.115,375€.4,875
Total comprehensive income attributable to equity holders 62,9653,039107,9684,562

Reconciliation from the equity of the associate Heineken Group to the investment of the Company.
December 31, 2022December 31, 2021 
Amounts in millions    PesoEuroPesoEuro 
Equity attributable to equity holders of Heineken Ps.403,765€.19,551Ps.403,463€.17,356
Economic ownership percentage 14.76%14.76%14.76%14.76%
Investment in Heineken investment exclusive of goodwill and other adjustments Ps.59,560€.2,884Ps.59,534€.2,561
Effects of fair value determined by purchase price allocation 14,52870416,342703
Goodwill 18,19488120,473881
Heineken investment Ps.92,282€.4,469Ps.96,349€.4,145
As of December 31, 2022 and 2021, the fair value of the Company’s investment in Heineken N.V. Holding and Heineken N.V. represented by shares equivalent to 14.8% of its outstanding shares amounted to Ps. 143,638 (€.6,912 million) and Ps. 181,059 (€.7,779 million) based on quoted market prices of those dates. As of April 14, 2023, the fair value amounted to €. 8,090 million.

During the years ended December 31, 2022, 2021 and 2020, the Company received dividends distributions from Heineken Group, amounting to Ps. 2,635, Ps. 2,005 and Ps. 2,322, respectively.
For the years ended December 31, 2022, 2021 and 2020 the equity (loss) earnings recognized for associates of Coca-Cola FEMSA were Ps. 194, Ps. 85 and Ps. (124), respectively.
For the years ended December 31, 2022, 2021 and 2020 the equity (loss) earnings recognized for joint ventures of Coca-Cola FEMSA were Ps. 192, Ps. 3 and Ps. (157), respectively.
For the year ended December 31, 2022, 2021 and 2020, the Company’s share of other comprehensive income from equity investees, net of taxes are as follows:
    202220212020
Items that may be reclassified to consolidated net income: 
Valuation of the effective portion of derivative financial instruments Ps.(286)Ps.32 Ps.(14)
Exchange differences on translating foreign operations 2,6552,893 (5,934)
Total Ps.2,369Ps.2,925 Ps.(5,948)
Items that may not be reclassified to consolidated net income in subsequent periods: 
Remeasurements of the net defined benefit liability Ps.267Ps.590 Ps.(111)