The deferred income taxes as of December 31, 2017 and 2016, were principally derived from the following temporary differences and tax loss carryforwards:
|
|
|
2017 |
|
2016 |
|
||
|
Assets: |
|
|
|
|
|
||
|
Accrued liabilities |
|
Ps. |
3,388,289 |
|
Ps. |
3,208,863 |
|
|
Allowance for doubtful accounts |
|
1,115,990 |
|
1,160,708 |
|
||
|
Customer advances |
|
2,230,958 |
|
2,761,196 |
|
||
|
Property, plant and equipment, net |
|
1,159,085 |
|
— |
|
||
|
Tax loss carryforwards: |
|
|
|
|
|
||
|
Operating |
|
10,596,342 |
|
11,448,996 |
|
||
|
Capital |
|
1,812,648 |
|
2,380,620 |
|
||
|
|
|
|
|
|
|
||
|
Liabilities: |
|
|
|
|
|
||
|
Investments (1) |
|
(3,968,176 |
) |
(4,471,232 |
) |
||
|
Property, plant and equipment, net |
|
— |
|
(305,654 |
) |
||
|
Derivative financial instruments |
|
(355,051 |
) |
— |
|
||
|
Intangible assets and transmission rights |
|
(2,646,267 |
) |
(2,898,572 |
) |
||
|
Prepaid expenses and other items |
|
(1,274,056 |
) |
(1,184,163 |
) |
||
|
|
|
|
|
|
|
||
|
Deferred income taxes of Mexican companies |
|
12,059,762 |
|
12,100,762 |
|
||
|
Deferred income tax assets of foreign subsidiaries |
|
257,769 |
|
279,683 |
|
||
|
|
|
|
|
|
|
||
|
Deferred income tax assets, net |
|
Ps. |
12,317,531 |
|
Ps. |
12,380,445 |
|
|
|
|
|
|
|
|
|
|
|
(1) |
Net of the benefit from tax loss carryforwards derived from the disposal in 2014 of the Group’s investment in GSF, in the amount of Ps.3,149,130 and Ps.2,914,499 in 2017 and 2016, respectively. |
The gross rollforward of deferred income tax assets, net, is as follows:
|
|
|
2017 |
|
2016 |
|
||
|
At January 1 |
|
Ps. |
12,380,445 |
|
Ps. |
7,665,038 |
|
|
Income statement credit |
|
1,108,745 |
|
3,851,836 |
|
||
|
Other comprehensive income and equity (charge) credit |
|
(1,080,344 |
) |
863,571 |
|
||
|
Loss on disposition of a Publishing business |
|
(91,315 |
) |
— |
|
||
|
|
|
|
|
|
|
||
|
At December 31 |
|
Ps. |
12,317,531 |
|
Ps. |
12,380,445 |
|
|
|
|
|
|
|
|
|
|
The rollforward of deferred income tax assets and liabilities for the year 2017, was as follows:
|
|
|
At January 1, 2017 |
|
Credit (Charge) to |
|
Credit (Charge) to |
|
At December 31, |
|
|||||
|
Assets: |
|
|
|
|
|
|
|
|
|
|||||
|
Accrued liabilities |
|
Ps. |
3,208,863 |
|
Ps. |
179,426 |
|
Ps. |
— |
|
Ps. |
3,388,289 |
|
|
|
Allowance for doubtful accounts |
|
1,160,708 |
|
(44,718 |
) |
— |
|
1,115,990 |
|
|||||
|
Customer advances |
|
2,761,196 |
|
(530,238 |
) |
— |
|
2,230,958 |
|
|||||
|
Property, plant and equipment, net |
|
— |
|
1,159,085 |
|
— |
|
1,159,085 |
|
|||||
|
Tax loss carryforwards |
|
13,829,616 |
|
(628,278 |
) |
(792,348 |
) |
12,408,990 |
|
|||||
|
Deferred income tax assets of foreign subsidiaries |
|
279,683 |
|
(21,914 |
) |
— |
|
257,769 |
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Liabilities: |
|
|
|
|
|
|
|
|
|
|||||
|
Investments |
|
(4,471,232 |
) |
721,525 |
|
(218,469 |
) |
(3,968,176 |
) |
|||||
|
Property, plant and equipment, net |
|
(305,654 |
) |
305,654 |
|
— |
|
— |
|
|||||
|
Derivative financial instruments |
|
— |
|
(355,051 |
) |
— |
|
(355,051 |
) |
|||||
|
Intangible assets and transmission rights |
|
(2,898,572 |
) |
252,305 |
|
— |
|
(2,646,267 |
) |
|||||
|
Prepaid expenses and other items |
|
(1,184,163 |
) |
(20,366 |
) |
(69,527 |
) |
(1,274,056 |
) |
|||||
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Deferred income tax assets, net |
|
Ps. |
12,380,445 |
|
Ps. |
1,017,430 |
|
Ps. |
(1,080,344 |
) |
Ps. |
12,317,531 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The rollforward of deferred income tax assets and liabilities for the year 2016, was as follows:
|
|
|
At January 1, 2016 |
|
Credit (Charge) to |
|
Credit (Charge) to |
|
At December 31. |
|
||||
|
Assets: |
|
|
|
|
|
|
|
|
|
||||
|
Accrued liabilities |
|
Ps. |
2,656,354 |
|
Ps. |
552,509 |
|
Ps. |
— |
|
Ps. |
3,208,863 |
|
|
Allowance for doubtful accounts |
|
1,187,427 |
|
(26,719 |
) |
— |
|
1,160,708 |
|
||||
|
Customer advances |
|
2,598,037 |
|
163,159 |
|
— |
|
2,761,196 |
|
||||
|
Tax loss carryforwards |
|
10,196,480 |
|
3,633,136 |
|
— |
|
13,829,616 |
|
||||
|
Deferred income tax assets of foreign subsidiaries |
|
195,348 |
|
84,335 |
|
— |
|
279,683 |
|
||||
|
Asset tax |
|
402,880 |
|
(402,880 |
) |
— |
|
— |
|
||||
|
|
|
|
|
|
|
|
|
|
|
||||
|
Liabilities: |
|
|
|
|
|
|
|
|
|
||||
|
Investments |
|
(3,504,137 |
) |
(2,067,429 |
) |
1,100,334 |
|
(4,471,232 |
) |
||||
|
Property, plant and equipment, net |
|
(954,678 |
) |
649,024 |
|
— |
|
(305,654 |
) |
||||
|
Derivative financial instruments |
|
(1,801 |
) |
1,801 |
|
— |
|
— |
|
||||
|
Intangible assets and transmission rights |
|
(3,922,230 |
) |
1,023,658 |
|
— |
|
(2,898,572 |
) |
||||
|
Prepaid expenses and other items |
|
(1,188,642 |
) |
241,242 |
|
(236,763 |
) |
(1,184,163 |
) |
||||
|
|
|
|
|
|
|
|
|
|
|
||||
|
Deferred income tax assets, net |
|
Ps. |
7,665,038 |
|
Ps. |
3,851,836 |
|
Ps. |
863,571 |
|
Ps. |
12,380,445 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The tax (charge) credit relating to components of other comprehensive income is as follows:
|
|
|
2017 |
|
|||||||
|
|
|
Before Tax |
|
Tax (Charge) |
|
After Tax |
|
|||
|
Remeasurement of post-employment benefit obligations |
|
Ps. |
(283,106 |
) |
Ps. |
— |
|
Ps. |
(283,106 |
) |
|
Exchange differences on translating foreign operations |
|
334,097 |
|
(78,040 |
) |
256,057 |
|
|||
|
Derivative financial instruments cash flow hedges |
|
231,758 |
|
(69,527 |
) |
162,231 |
|
|||
|
Warrants exercisable for common stock of UHI |
|
(280,447 |
) |
84,134 |
|
(196,313 |
) |
|||
|
Available-for-sale investments |
|
1,008,675 |
|
(302,603 |
) |
706,072 |
|
|||
|
Share of loss of associates and joint ventures |
|
(60,340 |
) |
— |
|
(60,340 |
) |
|||
|
|
|
|
|
|
|
|
|
|||
|
Other comprehensive income |
|
Ps. |
950,637 |
|
Ps. |
(366,036 |
) |
Ps. |
584,601 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current tax |
|
|
|
Ps. |
(78,040 |
) |
|
|
||
|
Deferred tax |
|
|
|
(287,996 |
) |
|
|
|||
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
|
Ps. |
(366,036 |
) |
|
|
||
|
|
|
|
|
|
|
|
|
|
||
|
|
|
2016 |
|
|||||||||
|
|
|
Before Tax |
|
Tax (Charge) |
|
After Tax |
|
|||||
|
Remeasurement of post-employment benefit obligations |
|
Ps. |
(255,713 |
) |
Ps. |
— |
|
Ps. |
(255,713 |
) |
||
|
Exchange differences on translating foreign operations |
|
767,165 |
|
356,829 |
|
1,123,994 |
|
|||||
|
Derivative financial instruments cash flow hedges |
|
789,208 |
|
(236,763 |
) |
552,445 |
|
|||||
|
Warrants exercisable for common stock of UHI |
|
(3,635,399 |
) |
1,090,620 |
|
(2,544,779 |
) |
|||||
|
Available-for-sale investments |
|
(32,379 |
) |
9,714 |
|
(22,665 |
) |
|||||
|
Share of loss of associates and joint ventures |
|
(42,832 |
) |
— |
|
(42,832 |
) |
|||||
|
|
|
|
|
|
|
|
|
|||||
|
Other comprehensive loss |
|
Ps. |
(2,409,950 |
) |
Ps. |
1,220,400 |
|
Ps. |
(1,189,550 |
) |
||
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Current tax |
|
|
|
Ps. |
356,829 |
|
|
|
||||
|
Deferred tax |
|
|
|
863,571 |
|
|
|
|||||
|
|
|
|
|
|
|
|
|
|||||
|
|
|
|
|
Ps. |
1,220,400 |
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
||||
|
|
|
2015 |
|
|||||||
|
|
|
Before Tax |
|
Tax (Charge) |
|
After Tax |
|
|||
|
Remeasurement of post-employment benefit obligations |
|
Ps. |
(166,044 |
) |
Ps. |
— |
|
Ps. |
(166,044 |
) |
|
Exchange differences on translating foreign operations |
|
498,954 |
|
206,520 |
|
705,474 |
|
|||
|
Equity instruments |
|
405,132 |
|
(121,541 |
) |
283,591 |
|
|||
|
Cumulative gain in fair value from equity instruments reclassified to other finance income |
|
(544,402 |
) |
163,321 |
|
(381,081 |
) |
|||
|
Derivative financial instruments cash flow hedges |
|
25,838 |
|
(7,751 |
) |
18,087 |
|
|||
|
Convertible Debentures due 2025 issued by UHI |
|
319,307 |
|
(95,821 |
) |
223,486 |
|
|||
|
Cumulative gain in fair value from Convertible Debentures issuedby UHI reclassified to other finance income |
|
(4,718,175 |
) |
1,415,453 |
|
(3,302,722 |
) |
|||
|
Warrants exercisable for common stock of UHI |
|
3,303,182 |
|
(990,955 |
) |
2,312,227 |
|
|||
|
Available-for-sale investments |
|
(80,371 |
) |
24,111 |
|
(56,260 |
) |
|||
|
Share of income of associates and joint ventures |
|
19,705 |
|
— |
|
19,705 |
|
|||
|
|
|
|
|
|
|
|
|
|||
|
Other comprehensive loss |
|
Ps. |
(936,874 |
) |
Ps. |
593,337 |
|
Ps. |
(343,537 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Current tax |
|
|
|
Ps. |
206,520 |
|
|
|
||
|
Deferred tax |
|
|
|
386,817 |
|
|
|
|||
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
|
Ps. |
593,337 |
|
|
|
||
|
|
|
|
|
|
|
|
|
|
||