Consolidated Statements of Income and Other Comprehensive Income

As of December 31, 2018, 2017 and 2016
(In thousands of Mexican pesos, except for basic earnings per common share data)


Note
2018
2017
2016
Net sales 24 $ 96,639,833 $ 93,592,613 $ 95,187,635
Cost of sales 25 68,021,288 64,611,516 66,717,610
Gross income 28,618,545 28,981,097 28,470,025
Sales and development expenses 25 13,040,952 12,592,117 11,838,925
Administrative expenses 25 4,698,683 4,766,921 3,931,465
Statutory employee profit sharing 266,293 321,594 388,308
Other (income) expenses, net 26 53,366 (394,994) (273,282)
Interest expense 567,124 575,880 518,538
Interest income (584,266) (323,564) (377,811)
Exchange gain (1,714,058) (1,576,442) (3,973,438)
Exchange loss 1,805,888 1,991,701 3,079,668
Effects of valuation of derivative financial instruments (289,436) 1,836 38,180
Gain on disposal of shares of associates - (1,246,031) (1,141,267)
Equity in income of associated companies and joint ventures 16 (787,689) (2,507,468) (1,868,484)
Income before income taxes 11,561,688 14,779,547
16,309,223
Income taxes 27 1,377,603 3,331,065 5,030,852
Consolidated net income for the year $ 10,184,085 $ 11,448,482
$ 11,278,371
Other comprehensiv e income, net of income tax:
Items that may be reclassified subsequently to profit or loss:
Exchange differences on translating foreign operations $ (248,174) $ (85,061) $ 392,522
Valuation of derivative financial instruments 166,857 (124,501) 11,487
Gain in valuation of financial instruments of capital 5,677,751 - -
Items that will not be reclassified subsequently to profit or loss:
Actuarial gain 142,955 75,096 48,657
Share in the ownership in other comprehensive results (56,804) - -
Share of other comprehensive income of associates
and joint ventures (403,767) 367,855 1,068,102
Total other comprehensive income 5,278,818 233,389 1,520,768
Consolidated comprehensive income of the year $
15,462,903
$
11,681,871
$
12,799,139
Consolidated net income attributable to:
Controlling interest $ 9,008,302 $ 10,033,633 $ 9,524,896
Non-controlling interest 1,175,783 1,414,849 1,753,475
$ 10,184,085 $ 11,448,482 $ 11,278,371
Basic earnings per common share attributable to controlling interest:
Continuing operations $ 3,94 $ 4.424 $ 4.198
Weighted average number of shares (‘000) 2,281,595
2,267,779
2,268,787
Consolidated comprehensive income attributable to:
Controlling interest $ 14,264,278 $ 10,278,128 $ 11,002,047
Non-controlling interest 1,198,625 1,403,743 1,797,092
$ 15,462,903 $ 11,681,871 $ 12,799,139

See accompanying notes to consolidated financial statements.