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Grupo Carso, S.A.B. de C.V. and Subsidiaries

Notes to the Consolidated Financial Statements

For the years ended December 31, 2015, 2014 and 2013
(In thousands of Mexican pesos ($) and thousands of U.S. dollars (US$))

Note 1 - Activities
Note 2 - Significant events
Note 3 - Basis of presentation
Note 4 - Significant accounting polices
Note 5 - Critical accounting judgments and key sources of estimation uncertainty
Note 6 - Cash and cash equivalents
Note 7 - Investments in securities held for trading
Note 8 - Accounts and notes receivable
Note 9 - Inventories
Note 10 - Backlog
Note 11 - Financial risk management
Note 12 - Fair value of financial instruments
Note 13 - Financial derivative instruments
Note 14 - Property, machinery and equipment
Note 15 - Investment properties
Note 16 - Investment in associates and joint ventures
Note 17 - Intangible assets
Note 18 - Others assets
Note 19 - Current and long-term debt
Note 20 - Provisions
Note 21 - Retirement employee benefits
Note 22 - Stockholders’ equity
Note 23 - Transactions and balances with related parties
Note 24 - Income
Note 25 - Cost and expenses by nature
Note 26 - Other expenses (income) - net
Note 27 - Income taxes
Note 28 - Commitments
Note 29 - Contingency
Note 30 - Segment information
Note 31 - New and revised IFRS in issue but not yet effective
Note 32 - Authorization to issue the financial statements