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
|
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See accompanying notes to consolidated financial statements.