Notes to consolidated financial statements
For the years ended December 31, 2011 and 2010 (as adjusted)
(In thousands of Mexican pesos ($) and thousands of U.S. dollars (US$))

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8. Investment in shares of associated companies and others

					2011
		Stockholders' equity		Net income	Ownership Percentage		Investment in shares		Equity in income
Elementia, S.A. de C.V. (1)	$	5,973,169	$	(89,694)	46	$	3,925,892	$	(33,501)
Infraestructura y Transportes México, S.A. de C.V. (2)		20,614,222		2,156,650	16.75		3,899,230		361,239
Philip Morris México, S.A. de C.V.		3,033,217		1,738,309	20		606,644		347,66
Enesa, S.A. de C.V. (3)		1,088,865		88,920	42.95		467,691		38,191
Grupo Telvista, S.A. de C.V.		2,015,416		172,715	10		201,542		17,271
Total investment in shares of associated companies							9,101,057		730,861
Other investments							73,273		891
Total investment in shares of associated companies and others						$	9,174,272	$	731,752

⁽¹⁾ The investment in shares includes goodwill of $1,108,606 (decreased by a recovery of asset tax of $12,749) and a fair value complement of $69,628. The income of the year includes a fair value adjustment of $7,758.

⁽²⁾ Investment in shares includes a fair value complement of $446,349.

⁽³⁾ Investment in shares (initial contribution of January 14, 2011 for $429,500) includes goodwill of $24.

					2010
		Stockholders' equity		Net income	Ownership Percentage		Investment in shares		Equity in income
Elementia, S.A. de C.V. (1)	$	6,171,222	$	(182,753)	46	$	4,031,206	$	(24,108)
Infraestructura y Transportes México, S.A. de C.V. (2)		18,613,659		2,227,707	16.75		3,564,137		373,141
Philip Morris México, S.A. de C.V.		4,715,346		3,420,441	20		943,071		684,088
Enesa, S.A. de C.V. (3)		1,731,234		60,345	10		173,123		6,035
Grupo Telvista, S.A. de C.V.							8,711,537		1,039,156
Total investment in shares of associated companies							236,552		-
Other investments							87,378		(4,620)
Total investment in shares of associated companies and others						$	9,035,467	$	1,034,536

⁽¹⁾ Investment in shares includes goodwill of $1,121,355 and a fair value complement of $71,089. The income of the year includes a favorable adjustment from dilution of $59,958.

⁽²⁾ Investment in shares includes a fair value complement of $ 446,349.