December 31, 2023 and 2022
Figures expressed in thousands of pesos, except dividends paid per share
| Note | Capital stock |
Retained earnings |
Capital reserves |
Total stockholder’s investment in controlling interest |
Non-controlling interest |
Total stockholder’s equity |
|
|---|---|---|---|---|---|---|---|
| Balance at January 1, 2022 | $ 3,374,282 | $ 106,879,767 | $ 9,373,976 | $ 119,628,025 | $ 259,494 | $ 119,887,519 | |
| Changes in accounting policies on investment in associates | - | 45,674 | - | 45,674 | - | 45,674 | |
| Comprehensive income: | |||||||
| Net income | - | 17,384,903 | - | 17,384,903 | 12,336 | 17,397,239 | |
| Financial asset at fair value through other comprehensive income - net of income tax | - | (694,407) | - | (694,407) | - | (694,407) | |
| Remeasurement of the liability for defined benefits - net of income tax | - | (419,962) | - | (419,962) | (96) | (420,058) | |
| Translation effect of investment in associates - net of income tax | - | - | (476,923) | (476,923) | - | (476,923) | |
| Cash flow hedges | - | - | (995,380) | (995,380) | - | (995,380) | |
| Total comprehensive income | - | 16,270,534 | (1,472,303) | 14,798,231 | 12,240 | 14,810,471 | |
| Transaction with owners: | |||||||
| Increase in reserve of repurchase of shares | 21.2 | - | (2,000,000) | 2,000,000 | - | - | - |
| Repurchase of shares - net | 21.2 | - | - | (7,415) | (7,415) | - | (7,415) |
| Dividends paid ($1.70 pesos per share) | - | (2,281,733) | - | (2,281,733) | - | (2,281,733) | |
| Total transactions with stockholders | - | (4,281,733) | 1,992,585 | (2,289,148) | - | (2,289,148) | |
| Balance at December 31, 2022 | 3,374,282 | 118,914,242 | 9,894,258 | 132,182,782 | 271,734 | 132,454,516 | |
| Changes in accounting policies on investment in associates | - | 20,943 | - | 20,943 | - | 20,943 | |
| Comprehensive income: | |||||||
| Net income | - | 19,486,518 | - | 19,486,518 | 14,696 | 19,501,214 | |
| Financial asset at fair value through other comprehensive income - net of income tax | - | (28,508) | - | (28,508) | - | (28,508) | |
| Remeasurement of the liability for defined benefits - net of income tax | - | (312,295) | - | (312,295) | 937 | (311,358) | |
| Translation effect of investment in associates - net of income tax | - | - | (506,965) | (506,965) | - | (506,965) | |
| Cash flow hedges | - | - | (104,787) | (104,787) | - | (104,787) | |
| Total comprehensive income | - | 19,145,715 | (611,752) | 18,533,963 | 15,633 | 18,549,596 | |
| Transaction with owners: | |||||||
| Increase in reserve of repurchase of shares | 21.2 | - | (33,998) | 33,998 | - | - | - |
| Repurchase of shares - net | 21.2 | - | - | (22,204) | (22,204) | - | (22,204) |
| Dividends paid ($2.61 pesos per share) | - | (3,503,132) | - | (3,503,132) | - | (3,503,132) | |
| Total transactions with stockholders | - | (3,537,130) | 11,794 | (3,525,336) | - | (3,525,336) | |
| Balance at December 31, 2023 | $ 3,374,282 | $ 134,543,770 | $ 9,294,300 | $ 147,212,352 | $ 287,367 | $ 147,499,719 | |
The accompanying notes are an integral part of these consolidated financial statements.