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Consolidated Statements of Cash Flows
$ in Millions, $ in Millions
12 Months Ended
Dec. 31, 2023
USD ($)
[1]
Dec. 31, 2023
MXN ($)
Dec. 31, 2022
MXN ($)
Dec. 31, 2021
MXN ($)
OPERATING ACTIVITIES        
Net income from discontinued operations $ 1,908 $ 32,238 $ 1,423 $ 8,264
Income before income taxes from continuing operations 3,397 57,410 47,715 43,692
Loss before income taxes of discontinued operations 5,305 89,648 49,138 51,956
Non-cash items adjustments:        
Operating non-cash expenses (income) (63) (1,063) 3,075 (1,884)
Non-cash movements in post-employment and other non-current employee benefits obligations 54 910 0 0
Allowance of expected credit losses 81 1,367 0 0
Depreciation 1,887 31,896 27,831 25,293
Amortization of intangible assets 126 2,121 2,696 2,694
Gain on sale of long-lived assets and investment in equity instruments (425) (7,185) (308) (1,176)
Gain on sale of shares in Heineken (1,957) (33,070) 0 0
Dividends received (196) (3,311) 0 0
Disposal of long-lived assets 28 466 416 579
Impairment of long-lived assets 74 1,248 833 1,427
Share of the loss (profit) of equity method accounted investees, net of income taxes 24 406 (7,458) (10,765)
Interest income (1,042) (17,609) (3,842) (1,464)
Interest expense 883 14,916 16,314 16,938
Foreign exchange loss (gain), net 583 9,849 3,729 (1,314)
(Gain) on monetary position for subsidiaries in hyperinflationary economies (6) (94) (527) (738)
Market value loss (gain) on financial instruments 26 440 706 (38)
Net cash flows from operating activities before changes in operating accounts 5,382 90,935 92,603 81,508
Trade accounts receivable and other current assets (717) (12,125) (5,685) (4,278)
Other current financial assets 47 799 (457) (743)
Inventories (381) (6,442) (6,860) (6,623)
Derivative financial instruments 0 0 5 (69)
Trade accounts payable and other accounts 661 11,177 12,006 17,075
Other non-current liabilities 39 659 471 (290)
Other current financial liabilities 234 3,959 2,291 348
Employee benefits paid (63) (1,070) (691) (807)
Cash flows from (used in) operations 5,202 87,892 93,683 86,121
Income taxes paid (1,746) (29,507) (18,304) (12,976)
Net cash used in operating activities from discontinuing operations (515) (8,706) (2,803) (55)
Net cash generated by operating activities 2,941 49,679 72,576 73,090
INVESTING ACTIVITIES        
Investment in equity method accounted investees (71) (1,202) (542) (662)
Other equity investments 0 0 1,593 0
Proceeds from the sale of shares 7,883 133,222 0 0
Purchases of cash investments (1,581) (26,725) 0 (23,504)
Proceeds from maturities of cash investments 0 0 21,830 0
Interest received 525 8,871 3,639 1,739
Derivative financial instruments (12) (199) (560) 213
Dividends received from equity method accounted investees and other investees 204 3,449 2,602 5,039
Property, plant and equipment acquisitions (2,060) (34,814) (29,354) (17,572)
Proceeds from disposal of property, plant and equipment 51 857 462 1,436
Acquisition of intangible assets (196) (3,306) (2,118) (1,912)
Proceeds from the sale of long-lived assets 0 0 0 976
Investment in other assets (44) (737) (1,499) (998)
Collections of other assets 46 775 181 213
Other non-current assets (92) (1,550) (1,500) (420)
Net cash generated (used in) investing activities by discontinuing operations 1,505 25,426 (16,984) (10,723)
Net cash generated (used in) investing activities 7,828 132,292 (46,432) (46,175)
FINANCING ACTIVITIES        
Proceeds from bank loans and notes payable 665 11,238 15,855 39,888
Payments of bank loans and notes payable (2,569) (43,421) (9,882) (38,742)
Interest paid (626) (10,587) (8,259) (9,399)
Derivative financial instruments 348 5,882 103 (3,245)
Dividends paid (1,112) (18,798) (17,506) (13,399)
Contributions from non-controlling interest 0 0 5 0
Acquisition of non-controlling interest 0 0 (266) 0
Interest paid on leases liabilities (398) (6,718) (5,376) (4,846)
Payments of leases (559) (9,453) (7,915) (6,131)
Other financing activities 2 32 (1,430) 296
Cash flows from (used in) financing activities, discontinued operations (1,226) (20,727) (1,227) (1,411)
Net cash used in financing activities (5,475) (92,552) (35,898) (36,989)
Increase in cash and cash equivalents 5,293 89,419 (9,754) (10,074)
Cash and cash equivalents at the beginning of the period 4,937 83,439 97,407 107,624
Effects of exchange rate changes and inflation effects on cash and cash equivalents held in foreign currencies (460) (7,746) (4,214) (143)
Cash and cash equivalents at the end of the period 9,770 165,112 83,439 97,407
Jetro Restaurant Depot        
INVESTING ACTIVITIES        
Proceeds from sales of interests in associates 471 7,967 0 0
Envoy Solutions        
INVESTING ACTIVITIES        
Proceeds from sales of interests in associates 1,448 24,468 0 0
Coca-Cola FEMSA        
INVESTING ACTIVITIES        
Other acquisitions, net of cash acquired (see Note 4) 0 0 (2,356) 0
Proximity Americas Division        
INVESTING ACTIVITIES        
Other acquisitions, net of cash acquired (see Note 4) (224) (3,786) (1,263) 0
Valora        
OPERATING ACTIVITIES        
Loss before income taxes of discontinued operations     229  
INVESTING ACTIVITIES        
Other acquisitions, net of cash acquired (see Note 4) (25) (424) (20,504) 0
Other acquisitions        
INVESTING ACTIVITIES        
Other acquisitions, net of cash acquired (see Note 4) $ 0 $ 0 $ (59) $ 0
[1] Convenience translation to U.S. dollars ($) – See Note 2.2.3