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Financial Assets and Liabilities
 12 Months Ended
Dec. 31, 2025
Financial Assets and Liabilities [Abstract]  
Financial Assets and Liabilities
Note 19. Financial Assets and Liabilities

Set out below is the categorization of the financial instruments, excluding cash and cash equivalents, held by the Company as of December 31, 2024 and 2025:

   
December 31, 2024
  
   
Loans and
Receivables
    
Fair value
through
profit or loss
    
Fair value
through OCI
  
Financial Assets:
                  
Equity investments at fair value through OCI and other short-term investments (Note 4)
  
Ps.
 —    
Ps.
 —    
Ps.
 46,683,687  
Accounts receivable from subscribers, distributors and other (Note 5)
    
179,615,497
      
—
      
—
  
Related parties (Note 6)          
    
1,395,483
      
—
      
—
  
Derivative financial instruments (Note 7)          
    
—
      
10,668,460
      
—
  
Debt instruments at fair value through OCI (Note 4)          
    
—
      
—
      
13,908,873
  
Total          
  
Ps.
 181,010,980    
Ps.
 10,668,460    
Ps.
 60,592,560  
                         
Financial Liabilities:
                        
Debt (Note 14)          
  
Ps.
 567,585,631    
Ps.
—    
Ps.
—  
Liability related to right-of-use of assets (Note 15)          
    
213,103,228
      
—
      
—
  
Accounts payable (Note 16)          
    
184,148,979
      
—
      
—
  
Related parties (Note 6)          
    
3,701,960
      
—
      
—
  
Derivative financial instruments (Note 7)          
    
—
      
22,185,709
      
—
  
Total 
 
Ps.
 968,539,798
    
Ps.
22,185,709
    
Ps.
—
  

   
December 31, 2025
  
   
Loans and
Receivables
    
Fair value
through
profit or loss
    
Fair value
through OCI
  
Financial Assets:
                        
Equity investments at fair value through OCI and other short-term investments (Note 4)
  
Ps.
—    
Ps.
—    
Ps.
 42,430,014  
Accounts receivable from subscribers, distributors and other (Note 5)
    
189,258,269
      
—
      
—
  
Related parties (Note 6)          
    
1,247,942
      
—
      
—
  
Derivative financial instruments (Note 7)          
    
—
      
2,417,009
      
—
  
Debt instruments at fair value through OCI (Note 4)
    
—
      
—
      
18,086,886
  
                         
Total          
  
Ps.
 190,506,211    
Ps.
 2,417,009    
Ps.
 60,516,900  
                         
Financial Liabilities:
                        
Debt (Note 14)          
  
Ps.
 524,906,860    
Ps.
—    
Ps.
—  
Liability related to right-of-use of assets (Note 15)          
    
214,108,933
      
—
      
—
  
Accounts payable (Note 16)          
    
186,196,043
      
—
      
—
  
Related parties (Note 6)          
    
3,263,615
      
—
      
—
  
Derivative financial instruments (Note 7)          
    
—
      
16,132,182
      
—
  
                         
Total          
  
Ps.
 928,475,451    
Ps.
 16,132,182    
Ps.
—  

Fair value hierarchy
 
The Company’s valuation techniques used to determine and disclose the fair value of its financial instruments are based on the following hierarchy:
 
Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities;

Level 2: Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observable; and
 
Level 3: Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable.
 
The fair value for the assets (excluding cash and cash equivalents) and financial liabilities shown in the consolidated statements of financial position at December 31, 2024 and 2025 is as follows:

   
Measurement of fair value at December 31, 2024
  
   
Level 1
    
Level 2
    
Level 3
    
Total
  
Assets:
                        
Equity investments at fair value through OCI and other short-term investments (Note 4)
  
Ps.
 46,683,687    
Ps.
 —    
Ps.
 —    
Ps.
 46,683,687  
Derivative financial instruments (Note 7)          
    
—
      
10,668,460
      
—
      
10,668,460
  
Total current assets
    
46,683,687
      
10,668,460
      
—
      
57,352,147
  
Revalued assets (Note 10)          
    
—
      
—
      
10,457,088
      
10,457,088
  
Pension plan assets (Note 18)          
    
175,241,382
      
14,754,046
      
40,380
      
190,035,808
  
Debt instruments at fair value through OCI (Note 4)          
    
—
      
13,908,873
      
—
      
13,908,873
  
Total non-current assets
    
175,241,382
      
28,662,919
      
10,497,468
      
214,401,769
  
Total          
  
Ps.
 221,925,069    
Ps.
 39,331,379    
Ps.
 10,497,468    
Ps.
 271,753,916  
                                 
Liabilities:
                                
Debt          
  
Ps.
 453,237,685    
Ps.
 90,095,061    
Ps.
—    
Ps.
 543,332,746  
Liability related to right-of-use of assets (Note 15)          
    
213,103,228
      
—
      
—
      
213,103,228
  
Derivative financial instruments (Note 7)          
    
—
      
22,185,709
      
—
      
22,185,709
  
Total          
  
Ps.
 666,340,913    
Ps.
 112,280,770    
Ps.
—    
Ps.
 778,621,683  
 
   
Measurement of fair value at December 31, 2025
  
   
Level 1
    
Level 2
    
Level 3
    
Total
  
Assets:
                        
Equity investments at fair value through OCI and other short-term investments (Note 4)
  
Ps.
 42,430,014    
Ps.
—    
Ps.
—    
Ps.
 42,430,014  
Derivative financial instruments (Note 7)          
    
—
      
2,417,009
      
—
      
2,417,009
  
Total current assets
    
42,430,014
      
2,417,009
      
—
      
44,847,023
  
Revalued of assets (Note 10)          
    
—
      
—
      
10,151,050
      
10,151,050
  
Pension plan assets (Note 18)          
    
176,263,162
      
13,856,942
      
36,308
      
190,156,412
  
Debt instruments at fair value through OCI (Note 4)          
    
—
      
18,086,886
      
—
      
18,086,886
  
Total non-current assets
    
176,263,162
      
31,943,828
      
10,187,358
      
218,394,348
  
Total          
  
Ps.
 218,693,176    
Ps.
 34,360,837    
Ps.
 10,187,358    
Ps.
 263,241,371  
                                 
Liabilities:
                                
Debt          
  
Ps.
 431,359,900    
Ps.
 90,142,638    
Ps.
—    
Ps.
 521,502,538  
Liability related to right-of-use of assets (Note 15)
    
214,108,933
      
—
      
—
      
214,108,933
  
Derivative financial instruments (Note 7)          
    
—
      
16,132,182
      
—
      
16,132,182
  
Total          
  
Ps.
 645,468,833    
Ps.
 106,274,820    
Ps.
—    
Ps.
 751,743,653  
 
Fair value of derivative financial instruments is valued using valuation techniques with market observable inputs. To determine its Level 2 fair value, the Company applies different valuation techniques including forward pricing and swaps models, using present value calculations. The models incorporate various inputs including credit quality of counterparties, foreign exchange spot and forward rates and interest rate curves. Fair value of debt Level 2 has been determined using a model based on present value calculation incorporating credit quality of AMX. Until September 2024 the fair value of the company VTR bonds in America Movil B.V. as debt instruments at fair value through OCI, were classified as Level 1 in order they are guaranteed with shares listed on the regulated market. The Company’s investment in equity investments at fair value, specifically the investment in Verizon in 2024 and 2025, and BT Group in 2025, are valued using the quoted prices (unadjusted) in active markets for identical assets. The net realized (loss) gain related to derivative financial instruments for the years ended December 31, 2024 and 2025 was Ps. (2,111,926) and Ps. 7,490,018 respectively.

The fair value of the asset revaluation was calculated using valuation techniques, using observable market data and internal information on transactions carried out with independent third parties. To determine fair value we use level 2 and 3 information, the Company used inputs such as average rents, contract term and discount rates for discounted flow modeling techniques; in the case of discount rates, we use level 2 data where the information is public and is found in recognized databases, such as country risks, inflation, etc. In the case of level 3 data, the information is mainly internal based on lease contracts entered into with independent third parties.
 
During the end of the period ended December 31, 2024 and 2025, there were no transfers between the Level 1, Level 2 and Level 3 fair value measurement hierarchies.
 
Changes in liabilities arising from financing activities

 
At December 31,
2023
  
Cash flow
  
Foreign currency
exchange and
other
  
At December 31,
2024
  
                 
Debt

Ps.
500,677,052  

Ps. 29,309,744  

Ps. 37,598,835

Ps. 567,585,631  
Liability related to right-of-use of assets
    
125,169,156
      
(45,285,610
)
    
133,219,682
      
213,103,228
  
Total liabilities from financing activities

Ps.
625,846,208  

Ps. (15,975,866 )

Ps. 170,818,517

Ps.
780,688,859  

   
At December 31,
2024
  
Cash flow
  
Foreign currency
exchange and
other
 
At December 31,
2025
  
                   
Debt
   Ps.
567,585,631     Ps. (18,388,465 )   Ps. (24,290,306 )   Ps. 524,906,860  
Liability related to right-of-use of assets
    
213,103,228
      
(51,585,889
)
    
52,591,594
      
214,108,933
  
Total liabilities from financing activities
   Ps.
780,688,859     Ps. (69,974,354 )   Ps. 28,301,288     Ps. 739,015,793  


Non-cash consideration



On March 2, 2024, the Company’s € 2.1 billion (Ps.37.9 billion) bond exchangeable into KPN shares matured. Prior to maturity, the Company received notification from all bondholders exercising their right to call the KPN shares at the strike price of € 3.1185. The Company delivered its KPN shares to the bondholders and has ceased to have an equity investment in KPN. In connection with this transaction, the Company recognized a loss in the consolidated statements of comprehensive income of Ps.2.6 billion. The non-cash transaction related to the derecognition of exchangeable bonds through the conversion of KPN shares amounted to Ps.34,569,415.