Consolidated statements
of profit and other comprehensive income

As of December 31, 2017, 2016 and 2015
(In thousands of Mexican pesos, except for basic earnings per common share data)

  Note   2017   2016   2015
               
Net sales 24   $93,592,613   $95,187,635   $88,223,816
               
Cost of sales 25   64,611,516   66,717,610   62,661,502
Gross profit     28,981,097   28,470,025   25,562,314
               
Sales and development expenses 25   12,592,117   11,838,925   11,088,808
Administrative expenses 25   4,766,921   3,931,465   3,659,401
Statutory employee profit sharing     321,594   388,308   350,417
Other (income) expenses, net 26   (394,994)   (273,282)   263,805
Interest expense     575,880   518,538   389,795
Interest income     (323,564)   (377,811)   (473,088)
Exchange gain     (1,576,442)   (3,973,438)   (1,886,461)
Exchange loss     1,991,701   3,079,668   1,849,986
Effects of valuation of derivative financial instruments     1,836   38,180   1,046,921
Profit in disposal and acquisition of shares of associates     (1,246,031)   (1,141,267)   (129,376)
Equity in income of associated companies and joint ventures 16   (2,507,468)   (1,868,484)   (1,275,577)
Income before income taxes     14,779,547   16,309,223   10,677,683
               
Income taxes 27   3,331,065   5,030,852   3,173,352
               
Consolidated net income for the year     $11,448,482   $11,278,371   $7,504,331
               
Other comprehensive income, net of income tax              
Items that may be reclassified subsequently to profit or loss:              
Exchange differences on translating foreign operations     $(85,061)   $392,522   $(252,695)
Valuation of derivative financial instruments     (124,501)   11,487   (1,753)
               
Items that will not be reclassified subsequently to profit or loss:              
Actuarial gain (loss)     75,096   48,657   (519,043)
Share of other comprehensive income of associates and joint ventures     367,855   1,068,102   (2,268)
               
Total other comprehensive income     233,389   1,520,768   (775,759)
               
Consolidated comprehensive income of the year     $11,681,871   $12,799,139   $6,728,572
               
Consolidated net income attributable to:              
Controlling interest     $10,033,633   $9,524,896   $6,196,155
Non-controlling interest     1,414,849   1,753,475   1,308,176
      $11,448,482   $11,278,371   $7,504,331
               
Basic earnings per common share attributable to controlling interest:
              
Continuing operations     $4.424   $4.198   $2.716
               
Weighted average number of shares (‘000)     $2,267,779   $2,268,787   $2,281,190
               
Consolidated comprehensive income attributable to:              
Controlling interest     $10,278,128   $11,002,047   $5,479,757
Non-controlling interest     1,403,743   1,797,092   1,248,815
      $11,681,871   $12,799,139   $6,728,572

See accompanying notes to consolidated financial statements.