CONSOLIDATED STATEMENTS OF
Changes in Stockholders’ Equity
(Notes 1, 2, 3, and 20)
Figures expressed in thousands of pesos; unless dividends paid per share
| Note | Capital stock |
Retained earnings |
Capital reserves |
Total stockholder’s equity attributable to the controlling shareholders |
Non- controlling interest |
Total stockholder’s equity |
|
|---|---|---|---|---|---|---|---|
| Balance at January 1, 2019 | $3,374,282 | $93,053,796 | - | $100,469,837 | $230,453 | $100,700,290 | |
| Changes in accounting policies on investment in associates | 11 | (283,798) | - | (283,798) | - | (283,798) | |
| Comprehensive income: | |||||||
| Net income | 12,383,120 | - | 12,383,120 | 9,480 | 12,392,600 | ||
| Remeasurement of the liability for defined benefits- Net of income tax | - | (356,528) | - | (356,528) | (247) | (356,775) | |
| Translation effect of investment in associates | - | (330,996) | (330,996) | - | (330,996) | ||
| Cash Flow hedges, net of income tax | - | - | (1,119,262) | (1,119,262) | - | (1,119,262) | |
| Total comprehensive income | - | 12,026,592 | (1,450,258) | 10,576,334 | 9,233 | 10,585,567 | |
| Transaction with owners: | |||||||
| Increase reserve repurchase of shares | 20.2 | - | (6,000,000) | 6,000,000 | - | - | - |
| Repurchase of shares | 20.2 | - | - | (451,106) | (451,106) | - | (451,106) |
| Dividends paid ($0.96 and $0.58 pesos per share) | - | (1,476,415) | - | (1,476,415) | - | (1,476,415) | |
| Total transactions with stockholders | - | (7,476,415) | 5,548,894 | (1,927,521) | - | (1,927,521) | |
| Balance at December 31, 2019 | 3,374,282 | 97,320,175 | 8,140,395 | 108,834,852 | 239,686 | 109,074,538 | |
| Changes in accounting policies on investment in associates | - | (83,684) | - | (83,684) | - | (83,684) | |
| Comprehensive income: | |||||||
| Net income | - | 750,115 | - | 750,115 | 3,609 | 753,724 | |
| Remeasurement of the liability for defined benefits- Net of income tax | - | (7,297) | - | (7,297) | 87 | (7,210) | |
| Translation effect of investment in associates | - | - | 146,762 | 146,762 | - | 146,762 | |
| Cash Flow hedges, net of income tax | - | - | (30,510) | (30,510) | - | (30,510) | |
| Total comprehensive income | - | 742,818 | 116,252 | 859,070 | 3,696 | 862,766 | |
| Transaction with owners: | |||||||
| Increase reserve repurchase of shares | 20.2 | - | (295,580) | 295,580 | - | - | - |
| Repurchase of shares | 20.2 | - | - | (20,295) | (20,295) | - | (20,295) |
| Dividends paid ($1.50 and $0.90 pesos per share) | - | (2,013,294) | - | (2,013,294) | - | (2,013,294) | |
| Total transactions with stockholders | - | (2,308,874) | 275,285 | (2,033,589) | - | (2,033,589) | |
| Balance at December 31, 2020 | $3,374,282 | $95,670,435 | $8,531,932 | $107,576,649 | $243,382 | $107,820,031 | |
The 
accompanying notes are an integral part of these consolidated financial statements.