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

Consolidated Statements of Profit or Loss and Other Comprehensive Incomes

As of December 31, 2015, 2014 and 2013
(In thousands of Mexican pesos, except for basic earnings per common share data)

 
Note
 
2015
 
2014
 
2013
               
Net sales 24 $ 88,223,816 $ 82,387,858 $ 85,870,545
               
Cost of sales 25   62,661,502   59,181,725   62,964,909
Gross profit     25,562,314   23,206,133   22,905,636
               
Sales and development expenses 25   11,088,808   10,534,161   10,050,242
Administrative expenses 25   3,659,401   3,663,867   3,305,976
Statutory employee profit sharing     350,417   289,519   225,344
Other expenses (income), net 26   263,805   (580,322)   (364,538)
Interest expense     389,795   440,199   581,374
Interest income     (473,088)   (465,787)   (459,899)
Exchange gain     (1,886,461)   (1,491,621)   (2,870,750)
Exchange loss     1,849,986   1,901,218   2,651,572
Effects of valuation of derivative financial instruments     1,046,921   671,804   (706)
(Gain) loss on disposal of shares of associates 2i y 16c   (129,376)   209,386   (7,588,664)
Equity in income of associates and joint ventures     (1,275,577)   (1,414,603)   (1,308,793)
Income before income taxes 16   10,677,683   9,448,312   18,684,478
Income taxes 27   3,173,352   2,673,669   3,721,708
Consolidated net income for the year   $ 7,504,331 $ 6,774,643 $ 14,962,770
               
Other comprehensive income, net of income tax              
Items that may be reclassified subsequently to profit or loss:              
Exchange differences on translating foreign operations   $ (252,695) $ 453,498 $ 172,203
Valuation of derivative financial instruments     (1,753)   (22,862)   (27,456)
Items that will not be reclassified subsequently to profit or loss:              
Actuarial (loss) gain     (519,043)   32,451   71,440
Equity on other comprehensive income of associates     (2,268)   70   456
Total other comprehensive (loss) income     (775,759)   463,157   216,643
Consolidated comprehensive income of the year   $ 6,728,572 $ 7,237,800 $ 15,179,413
               
Consolidated net income attributable to              
Controlling interest   $ 6,196,155 $ 5,684,990 $ 13,929,481
Non-controlling interest     1,308,176   1,089,653   1,033,289
    $ 7,504,331 $ 6,774,643 $ 14,962,770
               
Basic earnings per common share attributable to controlling interest:              
Continuing operations   $ 2.716 $ 2.483 $ 6.083
               
Weighted average number of shares (‘000)     2,281,190   2,289,802   2,289,802
               
Consolidated comprehensive income attributable to:              
Controlling interest   $ 5,479,757 $ 6,117,600 $ 14,147,326
Non-controlling interest     1,248,815   1,120,200   1,032,087
    $ 6,728,572 $ 7,237,800 $ 15,179,413

See accompanying notes to consolidated financial statements.