Document and Entity Information
Document and Entity Information | 12 Months Ended |
Dec. 31, 2022 shares | |
Entity Contact Personnel [Line Items] | |
Document Registration Statement | false |
Document Annual Report | true |
Document Transition Report | false |
Document Shell Company Report | false |
Document Type | 20-F |
Amendment Flag | false |
Document Period End Date | Dec. 31, 2022 |
Document Fiscal Year Focus | 2022 |
Document Fiscal Period Focus | FY |
Entity Registrant Name | SOUTHEAST AIRPORT GROUP |
Entity Incorporation, State or Country Code | O5 |
Entity File Number | 1-15132 |
Entity Central Index Key | 0001123452 |
Entity Address, Address Line One | Bosque de Alisos No. 47A – 4th Floor |
Entity Address, Address Line Two | Bosques de las Lomas |
Entity Address, City or Town | Ciudad de México |
Entity Address, Country | MX |
Entity Address, Postal Zip Code | 05120 |
Current Fiscal Year End Date | --12-31 |
Entity Well-known Seasoned Issuer | Yes |
Entity Voluntary Filers | No |
Entity Interactive Data Current | Yes |
Entity Current Reporting Status | Yes |
Entity Filer Category | Large Accelerated Filer |
Entity Shell Company | false |
Entity Emerging Growth Company | false |
ICFR Auditor Attestation Flag | true |
Document Accounting Standard | International Financial Reporting Standards |
Auditor Name | PricewaterhouseCoopers, S. C. |
Auditor Firm ID | 1128 |
Auditor Location | Mexico City |
Business Contact | |
Entity Contact Personnel [Line Items] | |
Entity Address, Address Line One | Bosque de Alisos No. 47A – 4th Floor |
Entity Address, Address Line Two | Bosques de las Lomas |
Entity Address, City or Town | Ciudad de México |
Entity Address, Country | MX |
Contact Personnel Name | Adolfo Castro Rivas |
Entity Address, Postal Zip Code | 05120 |
City Area Code | 52 |
Local Phone Number | 55 5284 0408 |
Contact Personnel Email Address | acastro@asur.com.mx |
IFRS Series B | |
Entity Contact Personnel [Line Items] | |
Title of 12(b) Security | Series B Shares, without par value, or shares |
Trading Symbol | ASR |
Security Exchange Name | NYSE |
Entity Common Stock, Shares Outstanding | 277,050,000 |
Series BB | |
Entity Contact Personnel [Line Items] | |
Entity Common Stock, Shares Outstanding | 22,950,000 |
American Depositary Share | |
Entity Contact Personnel [Line Items] | |
Title of 12(b) Security | American Depositary Shares, as evidenced by American Depositary Receipts, or ADSs, each representing ten Series B shares |
Trading Symbol | ASR |
Security Exchange Name | NYSE |
Consolidated Statements of Fina
Consolidated Statements of Financial Position - MXN ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
CURRENT ASSETS: | ||
Cash and cash equivalents | $ 13,174,991 | $ 8,770,062 |
Restricted cash | 1,420,728 | 123,081 |
Accounts receivable - Net | 2,541,923 | 1,878,238 |
Receivable from third parties | 148,618 | 105,000 |
Recoverable income taxes | 181,619 | 142,970 |
Creditable value added tax | 262,015 | 274,366 |
Inventory | 64,716 | 57,101 |
Other assets | 285,560 | 311,282 |
Total current assets | 18,080,170 | 11,662,100 |
NON-CURRENT ASSETS: | ||
Land, furniture and equipment - Net | 171,004 | 184,590 |
Intangible assets, airport concessions and goodwill - Net | 52,658,081 | 53,973,349 |
Investment in joint venture accounted for by the equity method | 10,266 | 10,689 |
Total assets | 70,919,521 | 65,830,728 |
CURRENT LIABILITIES: | ||
Bank loans | 1,492,781 | 224,472 |
Short term debt | 377,215 | 353,672 |
Income tax payable | 879,473 | 719,295 |
Accounts payable and accrued expenses | 2,814,504 | 2,488,959 |
Total current liabilities | 5,563,973 | 3,786,398 |
NON-CURRENT LIABILITIES: | ||
Bank loans | 3,442,804 | 6,603,006 |
Long-term debt | 9,891,961 | 6,598,397 |
Deferred income tax | 2,972,522 | 3,044,632 |
Employee benefits obligations | 32,654 | 28,239 |
Total liabilities | 21,903,914 | 20,060,672 |
STOCKHOLDERS' EQUITY | ||
Capital stock | 7,767,276 | 7,767,276 |
Capital reserves | 13,839,964 | 13,544,107 |
Other comprehensive income | (717,910) | 313,582 |
Retained earnings | 20,731,444 | 15,551,586 |
Controlling interest | 41,620,774 | 37,176,551 |
Non-Controlling interest | 7,394,833 | 8,593,505 |
Total stockholders' equity | 49,015,607 | 45,770,056 |
Total liabilities and stockholders' equity | $ 70,919,521 | $ 65,830,728 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - by Expense Function - MXN ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Revenue | |||
Aeronautical services | $ 14,072,517 | $ 9,408,599 | $ 5,412,418 |
Non-aeronautical services | 8,548,671 | 6,229,896 | 3,555,227 |
Construction services | 2,692,694 | 3,146,166 | 3,657,086 |
Total revenue | 25,313,882 | 18,784,661 | 12,624,731 |
Operating costs and expenses | |||
Cost of aeronautical and non-aeronautical services | 7,982,210 | 6,717,665 | 5,617,415 |
Cost of construction services | 2,692,694 | 3,146,166 | 3,657,086 |
Administrative expenses | 287,061 | 263,156 | 232,935 |
Total operating costs and expenses | 10,961,965 | 10,126,987 | 9,507,436 |
Other Income | 346,232 | 158,881 | |
Operating profit | 14,698,149 | 8,657,674 | 3,276,176 |
Interest income | 450,261 | 202,146 | 262,370 |
Interest expense | (855,518) | (842,386) | (926,312) |
Exchange income on foreign currency | 371,228 | 373,434 | 334,150 |
Exchange loss on foreign currency | (579,387) | (264,833) | (89,074) |
Other operating income (expense) | (613,416) | (531,639) | (418,866) |
Equity in the results of joint venture accounted for by the equity method | (1,618) | ||
Net income before income taxes | 14,084,733 | 8,126,035 | 2,855,692 |
Income taxes | |||
Income tax | 3,438,809 | 1,728,507 | 729,155 |
Net income for the year | 10,645,924 | 6,397,528 | 2,126,537 |
Net income for the year attributable to: | |||
Controlling interest | 9,986,548 | 5,983,747 | 1,972,319 |
Non-Controlling interest | 659,376 | 413,781 | 154,218 |
Net income for the year | 10,645,924 | 6,397,528 | 2,126,537 |
Items that will not be reclassified to income for the period: | |||
Remeasurement of labor obligations | (1,833) | (1,895) | (5,146) |
Items that might be reclassified to income for the period: | |||
Effect of the foreign currency translation in subsidiaries | (1,767,962) | 144,217 | 800,638 |
Total comprehensive income for the year | 8,876,129 | 6,539,850 | 2,922,029 |
Comprehensive income for the year attributable to: | |||
Controlling interest | 8,953,223 | 5,973,567 | 2,507,828 |
Non-Controlling interest | (77,094) | 566,283 | 414,201 |
Total comprehensive income for the year | $ 8,876,129 | $ 6,539,850 | $ 2,922,029 |
Basic earnings per share expressed in Mexican Pesos | $ 33.29 | $ 19.95 | $ 6.57 |
Diluted earnings per share expressed in Mexican Pesos | $ 33.29 | $ 19.95 | $ 6.57 |
Consolidated Statement of Chang
Consolidated Statement of Changes in Stockholders' Equity - MXN ($) $ in Thousands | Capital stock | Legal reserve | Reserve for repurchase of shares | Other comprehensive income | Retained earnings | Non-controlling interest | Total |
Balances at January 1 at Dec. 31, 2019 | $ 7,767,276 | $ 1,616,533 | $ 11,554,572 | $ (218,788) | $ 10,438,563 | $ 7,613,021 | $ 38,771,177 |
Comprehensive income: | |||||||
Net profit for the year | 1,972,319 | 154,218 | 2,126,537 | ||||
Effect of foreign currency translation in subsidiaries | 540,655 | 259,983 | 800,638 | ||||
Remeasurement of labor obligations | (5,146) | (5,146) | |||||
Total comprehensive income for the year | 540,655 | 1,967,173 | 414,201 | 2,922,029 | |||
Transfers to legal reserve | 274,126 | (274,126) | |||||
Balance at December 31 at Dec. 31, 2020 | 7,767,276 | 1,890,659 | 11,554,572 | 321,867 | 12,131,610 | 8,027,222 | 41,693,206 |
Comprehensive income: | |||||||
Net profit for the year | 5,983,747 | 413,781 | 6,397,528 | ||||
Effect of foreign currency translation in subsidiaries | (8,285) | 152,502 | 144,217 | ||||
Remeasurement of labor obligations | (1,895) | (1,895) | |||||
Total comprehensive income for the year | (8,285) | 5,981,852 | 566,283 | 6,539,850 | |||
Transfers to legal reserve | 98,876 | (98,876) | |||||
Dividends paid | (2,463,000) | (2,463,000) | |||||
Balance at December 31 at Dec. 31, 2021 | 7,767,276 | 1,989,535 | 11,554,572 | 313,582 | 15,551,586 | 8,593,505 | 45,770,056 |
Comprehensive income: | |||||||
Net profit for the year | 9,986,548 | 659,376 | 10,645,924 | ||||
Effect of foreign currency translation in subsidiaries | (1,031,492) | (736,470) | (1,767,962) | ||||
Remeasurement of labor obligations | (1,833) | (1,833) | |||||
Total comprehensive income for the year | (1,031,492) | 9,984,715 | (77,094) | 8,876,129 | |||
Transfers to legal reserve | 295,857 | (295,857) | |||||
Aerostars Capital reimbursement, non-controlling interest | (845,245) | (845,245) | |||||
Aerostar dividend paid, non-controlling interest | (276,333) | (276,333) | |||||
Dividends paid | (4,509,000) | (4,509,000) | |||||
Balance at December 31 at Dec. 31, 2022 | $ 7,767,276 | $ 2,285,392 | $ 11,554,572 | $ (717,910) | $ 20,731,444 | $ 7,394,833 | $ 49,015,607 |
Consolidated Statement of Cha_2
Consolidated Statement of Changes in Stockholders' Equity (Parenthetical) - $ / shares | 12 Months Ended | ||
Jun. 01, 2022 | Oct. 01, 2021 | Dec. 31, 2022 | |
Consolidated Statement of Changes in Stockholders' Equity | |||
Dividends paid, per share | $ 9.03 | $ 8.21 | $ 6 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - MXN ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Operating activities | |||
Income before income taxes | $ 14,084,733 | $ 8,126,035 | $ 2,855,692 |
Adjustments for: | |||
Depreciation and amortization | 2,059,237 | 1,993,342 | 1,934,766 |
Loss on disposal of land | 15,766 | ||
Interest income | (450,261) | (202,146) | (262,370) |
Interest expense | 855,518 | 842,386 | 926,312 |
Exchange loss | 579,388 | 264,833 | 89,074 |
Exchange gain | (371,228) | (373,434) | (334,150) |
Working capital variations: | |||
Accounts receivable | (1,016,389) | (760,499) | (452,636) |
Recoverable taxes and other current assets | (686,745) | (308,953) | (126,730) |
Trade accounts payable and other liabilities | 741,374 | 1,619,104 | (152,619) |
Total adjustments to reconcile profit (loss) | 15,795,627 | 11,216,434 | 4,477,339 |
Income taxes paid | (2,277,190) | (869,409) | (1,540,196) |
Net cash flows generated from operating activities | 13,518,437 | 10,347,025 | 2,937,143 |
Investing activities | |||
Improvements to assets under concession and acquisition of furniture and equipment | (2,775,773) | (3,692,485) | (3,328,560) |
Collection for disposal of land | 286,283 | ||
Loans granted to third parties | (35,100) | (105,000) | |
Investment in joint venture | (10,556) | ||
Interest received | 385,852 | 201,842 | 273,642 |
Restricted cash | (122,025) | (118,206) | 189,474 |
Net cash flows used in investing activities | (2,547,046) | (3,427,566) | (2,876,000) |
Financing activities | |||
Bank loans received | 4,650,000 | 306,241 | |
Restricted cash | (1,175,622) | ||
Obtainment of long-term debt | 3,947,522 | ||
Bank loans paid | (1,498,076) | (4,429,334) | (245,520) |
Lease payments - Principal portion | (7,078) | (6,216) | (6,113) |
Long-term debt paid | (222,568) | (220,961) | (253,925) |
Interest paid | (1,079,621) | (908,698) | (942,993) |
Dividends paid and capital reimbursement (non-controlling interest) | (1,585,960) | ||
Dividends paid | (4,509,000) | (2,463,000) | |
Net cash flows (used) from financing activities | (6,130,403) | (3,378,209) | (1,142,310) |
(Decrease) Increase in cash and cash equivalents | 4,840,988 | 3,541,250 | (1,081,167) |
Cash and cash equivalents at the beginning of the year | 8,770,062 | 5,192,628 | 6,192,679 |
Exchange gain (loss) on cash and cash equivalents | (436,059) | 36,184 | 81,116 |
Cash and cash equivalents at the end of the year | $ 13,174,991 | $ 8,770,062 | $ 5,192,628 |
Overview_
Overview: | 12 Months Ended |
Dec. 31, 2022 | |
Overview: | |
Overview: | Note 1 - Overview: Grupo Aeroportuario del Sureste, S. A. B. de C. V. (ASUR or the Company) is a Mexican company that was incorporated in April 1998 as a wholly-owned entity of the federal public government to administer, operate, maintain and exploit nine airports in the Southeast of Mexico. The nine airports are located in the following cities: Cancún, Cozumel, Mérida, Huatulco, Oaxaca, Veracruz, Villahermosa, Tapachula and Minatitlán. ASUR and its subsidiaries are collectively referred to as “the Company”, “ASUR” or “the Group”. The Company operated two companies that provide administrative services: Servicios Aeroportuarios del Sureste, S. A. and C. V. and RH Asur, S. A. de C. V. In addition, Aeropuerto de Cancún, S. A. de C. V. (Cancún Airport) has a more than 95% stake in the following subsidiaries: Caribbean Logistic, S. A. de C. V., Cargo RF, S. A. de C. V and Cancún Airport Services, S. A. de C. V., companies providing storage services, handling services, warehousing and custody of foreign trade merchandise and the related to the premises inspected at airports concessioned to third parties, as well as Cancún Airport Services, S. A. de C. V., whose main activity is to establish and operate shops, establishments and stores for the sale of all kinds of products. In June 1998, the Mexican Department of Communications and Transportation (SCT by its Spanish initials) granted to the Company’s subsidiaries concessions to administer, operate, exploit and develop the nine Southeast airports over a period of 50 years commencing on November 1, 1998. The term of the concessions may be extended by the parties under certain circumstances, in accordance with Article 15 of the Airports Law that establishes, among other things: 1) it had fulfilled the conditions set out in the respective title; 2) if requested before the five years of the concession’s validity begun, and 3) accept the new conditions. Notwithstanding the Company’s rights to administer, operate, exploit, develop and, if applicable, build the nine airports pursuant to the Mexican General Law of National Assets; all the land, furniture and permanent fixed assets located in the airports are the property of the Mexican federal government. Upon expiration of the Company’s concessions, these assets, including any improvements made during the term of the concessions, automatically revert to the Mexican federal government. Through its subsidiary Cancún Airport, the Company holds 60% of the shares of Aerostar Airport Holding, LLC (Aerostar), which operates and manages Aeropuerto Internacional Luis Muñoz Marín (LMM Airport) in San Juan, Puerto Rico, and 100% of the shares of Sociedad Operadora de Aeropuertos Centro Norte, S. A. (Airplan), domiciled in the city of Medellín, Colombia, which operates and administers, through a single concession (contract 8000011-OK), the following six Airports: Enrique Olaya Herrera in Medellín, José María Córdova in Rionegro, El Caraño in Quibdó, Los Garzones in Montería, Antonio Roldán Betancourt in Carepa and Las Brujas in Corozal. As of December 31, 2020, the Company's outstanding capital stock was held by the investing public (66.54)%, and placed in New York (NYSE) and Mexico (BMV), Inversiones and Airport Techniques, SAPI de C.V. (ITA) (7.65)%, CHPAF Holdings, S.A.P.I de C. V. (13.51)%, and Inversiones Productivas Kierke, S. A. de C. V. (12.31)%. At December 31, 2021 and 2022, the Companyʼs outstanding capital stock was held by the investing public (60.63% and 66.54%, respectively) and has been paced at securities market in New York (NYSE) and México (BMV), Inversiones y Técnicas Aeroportuarias, S. A. P. I. de C. V. (ITA) (7.65% in both years), CHAPF Holdings, S.A.P.I. de C. V. (13.51% and 19.41%, respectively), and Inversiones Productivas Kierke, S. A. de C. V. (12.31% in both years). Shareholding is divided amongst different shareholders, without there being an individual or a particular group that controls the Company directly. Shareholding is divided amongst different shareholders, without there being an individual or a particular group that controls the Company directly. Recovery from the effects of COVID-19 on the Company. Due to the declaration of COVID-19 as a global health emergency, the Company’s daily operations were impacted, mainly in the year 2020, as a consequence of the social distancing requirements, the recommendations of the authorities to stay at home and government travel restrictions. During 2021 and 2022 the Company presented a recovery compared to the previous year, highlighting the following: a. Mexico. - In 2021, there was a recovery in passenger traffic compared to 2020. The total increase in passengers in 2021 in Mexico was 76.28% compared to 2020. In 2022, the increase in passenger traffic in Mexico continued. (See Note 3). b. Colombia. - In 2021, there was a recovery in passenger traffic compared to 2020. The total increase in passengers in 2021 was 149.82% compared to 2020. In 2022, the increase in passenger traffic in Colombia continued. (See Note 3). c. Puerto Rico. - In 2021, there was a recovery in passenger traffic compared to 2020. The total increase in passengers in 2021 was 99.83% d. Clients. - Due to COVID-19 pandemic, the Company entered into agreements with clients to extend the payment term for accounts receivable in Mexico and Airplan. As of December 31, 2021, the balance in Mexico amounted to Ps.4,463 while Airplan's notes receivable were settled by clients. In 2022 the total balance of these agreements was settled. (See Note 6.2). e. Impairment of accounts receivable. - The consolidated accounts receivable impairment reserve shows a net decrease in 2021 of Ps.28,519. The impact in the accounts receivable impairment reserve for the year 2021, was reflected in Mexico, with an increase of Ps.9,331, a decrease of Ps.36,275 in Aerostar, while Airplan reflected an increase of Ps.1,575. In 2022 there were no significant movements in the consolidated accounts receivable impairment reserve. (See Note 6.3). f. Mexico's concession. - On March 31, 2021, the Federal Civil Aviation Agency in Mexico (AFAC) authorized the reduction and modification of the Capital investments provided for in the Master Development Plan (MDP) for the period 2019-2023. (See Note 15 b). g. Bank loans. - a) On June 29, 2020, Mexico obtained BBVA Bancomer’s approval for a Ps.1,500,000 credit line, over a term of eighteen months as from that date, which was not used, as of December 31, 2021 and has therefore expired. b) On September 29, 2021, the loan with Santander for Ps.2,000,000 was prepaid and a new loan was obtained for Ps.2,650,000 at the 28-day TIIE rate plus 150 h. At the General Meeting of Stockholders held on April 23, 2020, the Company's shareholders agreed to delegate the power to decree and pay ordinary dividends to the Board of Directors, in to amount of Ps.2,463,000 which were approved on June 29, 2021 and paid on October 1, 2021. In 2022 net ordinary dividends of Ps.2,709,000 were declared and paid, as well as an extraordinary dividend of Ps.1,800,000. (See Note 12). i. Airplan did not comply with its financial commitments on September 30 and December 31, 2020. In 2021, all the members of the syndicated loan agreement granted waivers to the Company until the first quarter of 2022, however as of December 31, 2021 as well as in each quarter of 2022, the Company complied with its financial commitments. (See Note 10). j. Revenue. - During 2021 and 2022, in line with the increase in passenger traffic, there was an increase in consolidated revenues, excluding construction revenues, of 74.4% and 44.7% compared to 2020 and 2021, respectively, and during 2021 and 2022 they present an increase in passenger traffic and as well as an increase in consolidated revenues, excluding construction revenues, of 0.3% and 45.1% respectively compared to the year ended December 31, 2019. Consolidated aeronautical revenues showed an increase in 2021 and 2022 compared to and increase of 73.8% and 49.6% in 2020 and 2021, respectively, and compared to 2019, a decrease of 2.0% and an increase of 46.6%, respectively, while non-aeronautical revenues reflected an increase of 75.2% and 37.2% in 2021 and 2022 compared to 2020 and 2021, respectively, and an increase of 4.0% and 42.8%, respectively, compared to 2019. (See Note 3). k. Grants. - In 2020 Aerostar received a grant offer from the Federal Aviation Administration (FAA) under the Federal CARES Act approved by the United States Government for a total amount of USD33,417 (approximately Ps.717,590). During 2020 the subsidiary received USD17,125 (approximately Ps.367,752) and during 2021 the subsidiary received USD16,292 (approximately Ps.333,477). As of December 31, 2021, the Company has requested and obtained all the resources under this program. (See Notes 4.1 and 17.22). On February 18, 2021, official confirmation was received from the FAA granting Aerostar approval for Federal assistance under the Coronavirus Response and Relief Supplemental Appropriation Act (CRRSA Act) for a total amount of USD10,577 (approximately Ps.210,574). During 2022 and 2021, the Company received the amount of USD9,595 and USD983, respectively (approximately Ps.196,376 and Ps.20,122 in 2022 and 2021, respectively), for reimbursements of verifications presented to the authority, which are presented net of the expense or cost corresponding to 2022 and 2021. As of December 31, 2022 and 2021 there are no unfulfilled conditions or other contingencies related to these grants. (See Notes 4.1 and 17.22). On November 5, 2021, the FAA provided subsidiary Aerostar an airport rescue grant offer under the American Rescue Plan Act (ARPA) for a total amount of USD35,716 (approximately Ps.731,106). During 2022 the Company received USD17,515 (approximately Ps.350,901). As of December 31, 2022 and 2021, there are no unfulfilled conditions or other contingencies related to these grants. As of December 31, 2021, the Company has not used these resources and did not directly benefit from any other form of government assistance. (See Notes 4.1 and 17.22). The most significant effects on the Company’s consolidated financial statements have been overcome and during 2022 there were no adverse impacts caused by the COVID-19 pandemic. |
Segment Information_
Segment Information: | 12 Months Ended |
Dec. 31, 2022 | |
Segment information: | |
Segment information: | Note 2 - Segment information: The Company is a Mexican entity that was incorporated in April 1998 as a wholly-owned entity of the federal public government to administrate, operate, maintain and develop nine airports in the Southeast of Mexico. The nine airports are located in the following cities: Cancun, Cozumel, Mérida, Huatulco, Oaxaca, Veracruz, Villahermosa, Tapachula and Minatitlán. The Company operated two companies that provide administrative services: Servicios Aeroportuarios del Sureste, S. A. and C. V. and RH Asur, S. A. de C. V. During 2021 the employees were transferred to the corresponding airport in Mexico where they provide their services. (See Note 4.2). In addition, Cancun Airport hold an interest in the following subsidiaries: 100% in Caribbean Logistic, S. A. de C. V. and Cargo RF, S. A. de C. V, companies providing storage services, handling services, warehousing and custody of foreign trade merchandise and the related to the premises inspected at airports concessioned to third parties, as well as Cancun Airport Services, S. A. de C. V., whose main activity is to establish and operate shops, for the sale of all type of products. As mentioned in Note 1, the Company controls Aerostar and Airplan through its equity interest, namely 60% in Aerostar and 100% in Airplan. See information by segments is shown as follows: Year ended on Holding & Consolidation December 31, 2020 Cancún Aerostar (*) Airplan Mérida Villahermosa Services Other adjustments Total Revenue from contracts with clients: Aeronautical revenue Ps. 2,218,230 Ps. 1,808,102 Ps. 488,981 Ps. 281,659 Ps. 132,751 Ps. 482,695 Ps. 5,412,418 Non-aeronautical revenue 2,252,157 740,450 296,961 90,431 42,103 Ps. 1,265,920 133,496 Ps. (1,266,291) 3,555,227 Revenue for construction services 1,855,747 353,686 6,918 728,718 154,155 557,862 3,657,086 Operating profit 2,079,965 923,518 (242,234) 95,167 40,020 327,631 52,109 3,276,176 Non-current assets 18,899,582 20,229,990 5,604,037 2,426,454 1,097,864 33,164,914 5,029,721 (33,757,400) 52,695,162 Total assets 22,406,388 21,630,906 6,090,371 2,913,304 1,345,826 33,834,595 5,947,221 (33,757,400) 60,411,211 Total liabilities 5,557,692 8,934,439 3,826,600 49,910 78,198 184,800 86,366 18,718,005 Improvements to assets under concession and acquisition of furniture and equipment in the period 1,720,381 400,500 6,918 570,940 118,736 511,085 3,328,560 Amortization and depreciation (487,333) (746,524) (461,563) (49,427) (31,897) (6,976) (151,046) (1,934,766) Revenue recognized At point in time: Aeronautical revenue 1,888,076 953,715 459,655 254,210 120,688 439,320 4,115,664 Non-aeronautical revenue 319,367 142,135 461,502 Total Ps. 2,207,443 Ps. 1,095,850 Ps. 459,655 Ps. 254,210 Ps. 120,688 Ps. 439,320 Ps. 4,577,166 Over a period time: Aeronautical revenue 330,154 854,387 29,326 27,449 12,063 43,375 1,296,754 Non-aeronautical revenue 1,932,790 598,315 296,961 90,431 42,103 1,265,920 133,496 (1,266,291) 3,093,725 Revenue for construction services 1,855,747 353,686 6,918 728,718 154,155 557,862 3,657,086 Total Ps. 4,118,691 Ps. 1,806,388 Ps. 333,205 Ps. 846,598 Ps. 208,321 Ps. 1,265,920 Ps. 734,733 Ps. (1,266,291) Ps. 8,047,565 (*) Subsidiary located in Puerto Rico. (**) Subsidiary located in Colombia. Year ended on Holding & Consolidation December 31, 2021 Cancún Aerostar (*) Airplan Mérida Villahermosa Services Other adjustments Total Revenue from contracts with clients: Aeronautical revenue Ps. 4,644,489 Ps. 2,027,188 Ps. 1,174,762 Ps. 467,065 Ps. 211,238 Ps. 883,857 Ps. 9,408,599 Non-aeronautical revenue 4,038,222 1,394,346 450,604 129,797 49,410 Ps. 1,191,810 167,517 Ps. (1,191,810) 6,229,896 Revenue for construction services 1,210,514 231,301 6,261 795,208 123,936 778,946 3,146,166 Operating profit 5,406,719 1,526,642 430,817 247,576 95,027 546,457 404,436 8,657,674 Non-current assets 20,142,279 20,330,478 4,526,009 3,220,164 1,246,279 36,791,385 5,754,925 (37,842,891) 54,168,628 Total assets 26,169,097 22,988,431 5,556,098 3,562,271 1,456,118 37,190,823 6,750,781 (37,842,891) 65,830,728 Total liabilities 7,480,794 8,876,260 3,255,579 30,724 101,020 70,852 245,443 20,060,672 Improvements to assets under concession and acquisition of furniture and equipment in the period 1,535,850 230,344 4,537 899,603 179,968 826,417 3,676,719 Amortization and depreciation (546,795) (740,075) (445,236) (53,733) (35,601) (1,677) (170,225) (1,993,342) Revenue recognized At point in time: Aeronautical revenue 4,009,238 1,588,161 1,142,604 429,884 191,766 814,057 8,175,710 Non-aeronautical revenue 687,390 316,942 1,004,332 Total Ps. 4,696,628 Ps. 1,905,103 Ps. 1,142,604 Ps. 429,884 Ps. 191,766 Ps. 814,057 Ps. 9,180,042 Over a period time: Aeronautical revenue 635,251 439,027 32,158 37,181 19,472 69,800 1,232,889 Non-aeronautical revenue 3,350,832 1,077,404 450,604 129,797 49,410 1,191,810 167,517 (1,191,810) 5,225,564 Revenue for construction services 1,210,514 231,301 6,261 795,208 123,936 778,946 3,146,166 Total Ps. 5,196,597 Ps. 1,747,732 Ps. 489,023 Ps. 962,186 Ps. 192,818 Ps. 1,191,810 Ps. 1,016,263 Ps. (1,191,810) Ps. 9,604,619 (*) Subsidiary located in Puerto Rico. (**) Subsidiary located in Colombia. Year ended on Holding & Consolidation December 31, 2022 Cancún Aerostar (*) Airplan Mérida Villahermosa Services Other adjustments Total Revenue from contracts with clients: Aeronautical revenue Ps. 7,515,691 Ps. 2,100,276 Ps. 2,027,061 Ps. 799,661 Ps. 316,367 Ps. 1,313,461 Ps. 14,072,517 Non-aeronautical revenue 5,854,262 1,598,601 652,280 168,802 64,553 Ps. 872,592 210,173 Ps. (872,592) 8,548,671 Revenue for construction services 910,812 411,152 12,922 553,361 105,690 698,757 2,692,694 Operating profit 9,022,518 2,149,776 1,233,502 557,128 193,390 806,419 735,416 14,698,149 Non-current assets 20,397,710 19,071,914 3,396,813 3,593,843 1,250,325 40,386,563 6,217,622 (41,475,439) 52,839,351 Total assets 30,024,926 23,292,857 4,924,236 4,043,180 1,497,541 41,149,776 7,462,444 (41,475,439) 70,919,521 Total liabilities 6,713,813 12,177,362 2,457,168 81,660 125,739 161,001 187,171 21,903,914 Improvements to assets under concession and acquisition of furniture and equipment in the period 1,062,108 440,627 12,695 476,164 50,654 733,525 2,775,773 Amortization and depreciation (610,864) (724,294) (415,829) (70,397) (38,317) 906 (200,442) (2,059,237) Revenue recognized At point in time: Aeronautical revenue 6,628,035 1,411,532 1,967,114 745,695 290,593 1,214,455 12,257,424 Non-aeronautical revenue 1,085,461 337,190 1,422,651 Total Ps. 7,713,496 Ps. 1,748,722 Ps. 1,967,114 Ps. 745,695 Ps. 290,593 Ps. 1,214,455 Ps. 13,680,075 Over a period time: Aeronautical revenue 887,656 688,744 59,947 53,966 25,774 99,006 1,815,093 Non-aeronautical revenue 4,768,801 1,261,411 652,280 168,802 64,553 872,592 210,173 (872,592) 7,126,020 Revenue for construction services 910,812 411,152 12,922 553,361 105,690 698,757 2,692,694 Total Ps. 6,567,269 Ps. 2,361,307 Ps. 725,149 Ps. 776,129 Ps. 196,017 Ps. 872,592 Ps. 1,007,936 Ps. (872,592) Ps. 11,633,807 (*) Subsidiary located in Puerto Rico. (**) Subsidiary located in Colombia. |
Revenue from Contracts with Cus
Revenue from Contracts with Customers: | 12 Months Ended |
Dec. 31, 2022 | |
Revenue from Contracts with Customers: | |
Revenue from Contracts with Customers: | Note 3 - Revenue from Contracts with Customers: 3.1) Revenue recognition Airports operated by the Company receive income from external clients for aeronautical services rendered to airlines and from rendering complementary services. The Company also recognizes income from construction services arising from concession agreements with government entities. Following is a description of the principal types of service agreements from which the Company receives revenue. 3.1.1) Aeronautical services The Company operates airports in three countries (Mexico, Puerto Rico and Colombia), providing different aeronautical services involving principally the following performance obligations. a. Passenger fee rates (Airport Use Rate – TUA, by its initials in Spanish), which are calculated based on total outgoing passengers (other than diplomats, infants and passengers in transit) making use of air terminals operated by the Company. b. Landing rates, which contemplate landing services, the use of runways, taxiing strips, and bands. c. Platform use fees, based on the time an aircraft remains at a terminal after landing. d. Security services, calculated on the basis of the total number of incoming and outgoing passengers. e. Baggage inspection fee, calculated on the basis of total number of outgoing passengers. f. Use of passenger walkways, which consists of rendering passenger walkways service connecting an aircraft to the terminal after landing. g. Fee for the use of passenger documentation counters; the fee is applied on the basis of the holding of documentation for one-hour periods. After the first hour has elapsed, the fee is charged proportionately for 30-minute increments. Revenue is measured based on the consideration specified in the tariff regulating system applicable to airports in each country for each performance obligation identified. In Mexico, these are regulated by the Secretariat of Communications and Transport (SCT), in Puerto Rico by the FAA and in Colombia by Aerocivil. In its capacity as operator of the LMM Airport, Aerostar entered into Airport Use Agreements with the main airlines serving LMM Airport, referred to as “Signing Airlines”. The agreements have a term of 15 years, counted as from February 27, 2013, with an option to be terminated in advance by agreement of the parties. If, upon completion of the effective term, no new use agreements have been entered into, each of the Airport Use Agreements in force at that date will continue to be binding until new use agreements are signed. Pursuant to the Airport Use Agreements, Aerostar is entitled to receive the following annual contributions from the airlines serving at LMM Airport: ● For the first year of the contract (i.e. the year ended on December 31, 2013), a contribution of USD 62,000 (approximately Ps. 1,268,966 ) multiplied by the number of effective days elapsed in that year, divided by the number of days of the year. ● For the following five years of the contract a contribution of USD 62,000 per year, ● For the remaining years, the total annual contributions by the previous year, adjusted for inflation based on the non-underlying U.S. Consumer Price Index. As of December 31, 2020, 2021 and 2022, the contribution of the airlines was USD 64,495 (Ps. 1,391,462 ), USD 65,907 (Ps. 1,336,793 ) and USD 67,030 (Ps. 1,305,166 ), respectively. Passenger, landing and security rates are recorded at a particular point in time, once the aircraft departure manifest has been delivered. Revenue arising from other performance obligations is recorded over time as the services are rendered. Discounts The Company may apply discounts to its rates, provided they are not discriminatory in the light of the laws in effect in the countries in which the Company operates. Discounts are granted based on the discount policy and conditions negotiated with the National Autotransportation Chamber (CANAERO), and regulated revenue must be delivered within a period of 30 days. Revenues are recorded net of estimated discounts based on applicable rates. The prompt-payment discount for regulated income principally TUA is established in each of the contracts signed with the airlines, and is subtracted from the aforementioned income. In 2020, 2021 and 2022, the discount amounted to Ps.44,561, Ps.88,787 and Ps.118,480, respectively. Terms of payment The airport service contracts stipulate a payment term of 30 days; in the case of fees charged to providers of services such as catering, handling, ground transportation, among others (complementary services), payments must be made on the first day of each month. 3.1.2) Non-aeronautical services The Company generates revenue from non-aeronautical services, which involve basically the following performance obligations: a. Access rates to nonpermanent overland transportation based on the number of access events experienced by the transportation companies operated by third parties providing passenger transportation services at the terminal. b. Car parking, rates based on the time vehicles remain at public parking areas. c. Retail sales, recorded when a product is sold to a client and payment on the transaction is made at the time of purchase. Revenue arising from access rates to overland transportation and retail sales are recorded at a particular point in time, to the extent that the performance obligation is satisfied and the promised goods and services are transferred, while parking area income is recorded over time. Contracts for commercial income IFRS 15 "Revenue from Contracts with Customers" must be applied to all contracts with clients. However, there are exceptions, such as contracts for the leasing of commercial space, which fall under IFRS 16 “Leases”. Leasing income (non-regulated activities) are considered complementary services to the supply of regulated services so there is no separate infrastructure other than the intangible recognized under Note 8, nor is a right of use to be accounted for separately in the adoption of IFRS 16. Presently, space leased at airports to airlines and other commercial lessees comprise the most significant source of income related to non-aeronautic services. Leasing income is accrued monthly and is determined by applying a percentage established in the lease contract to income from actual sales of lessees (share of sales), or an agreed minimum fee. Commercial leasing operations include the leasing of automobiles, the sale of food and beverages, retail sales, sales made at kiosks, graphic advertising, overland transportation, fixed operations and other services rendered. Commercial income is partially recorded on the basis of lessee income and is partially based on minimum lease rates. At December 31, 2020, 2021 and 2022, variable leasing income was Ps.1,931,965, Ps.3,682,917 and Ps.4,637,247, respectively, and Ps. 612,509, Ps.653,070 and Ps.1,295,167, respectively, for fixed leasing rates. 3.1.3) Construction services As an operator of airport concessions, the Company is required to improve items under concession. Works carried out within the airport are based on development plans authorized by the regulators. Income from construction services are recognized in accordance with the methods prescribed (input method) for measuring progress towards completion approved by the grantor. Improvements made are expected to complement the infrastructure of the airport operated by the Group. IFRS 15 establishes that during the construction period of the infrastructure related to concessions received, they must be shown as “contract assets” in the statement of financial position, regardless of the type of consideration received (financial asset or intangible asset). See Note 8. Construction services carried out by the Group do not entitle it to a direct cash consideration; rather, it is entitled to charge users for airport services rendered at the terminals during the concession period. Revenue from construction services is measured at fair value of the services rendered, which increased the value of the intangible asset, plus the cost of capitalizable financing. As of December 31, 2020, 2021 and 2022, revenues from construction services in Mexico were Ps.3,296,482, Ps.2,908,604 and Ps.2,268,620 in Puerto Rico they were Ps.353,686, Ps.231,301, and Ps.411,152, and in Airplan were Ps.6,918, Ps.6,261 and Ps.12,922 respectively. 3.1.4) Airports Law and Regulations Mexico Under the Airports Law and regulations thereto, company revenue is classified as Airport Services, Complementary Services and Commercial Services. Airport Services mainly consist of the use of runways, taxiways and platforms for landings and departures, parking for aircrafts, use of mechanical boarders, security services, hangars, car parking, as well as the general use of the terminals and other infrastructure by the aircrafts, passengers and cargo, including the rental of space that is essential for the operation of airlines and suppliers of complementary services. Non-regulated Services mainly consist in complementary services consist mainly of ramp services and handling of luggage and cargo, food services, maintenance and repair and related activities that provide support to the airlines. The Rate Regulation Law provides that the following sources of revenues are regulated under this system: ● Revenues from airport services (as defined under the Mexican Airport Law), other than automobile parking, and ● Access fees earned from third parties providing complementary services, other than those related to the establishment of administrative quarters that the SCT determines to be non-essential. Non-regulated Services consist of services that are not considered essential for an airport’s operation, such as the rental of spaces to businesses, restaurants and banks. Access fees and revenue from other services are recognized as services are rendered. The following sets forth the Company revenue at December 31, 2020, 2021, and 2022 using the classification established in the Airport Law and the Regulations thereto and on the basis of performance obligations established under IFRS 15. Year ended of December 31, 2020 2021 2022 Regulated services: Airport services for revenue from contracts with clients (*): Passengers fees Ps. 3,476,804 Ps. 6,767,394 Ps. 10,795,615 Landing fees 983,173 1,075,198 1,277,251 Platform 395,432 592,671 751,464 Seurity services 46,553 88,758 134,364 Baggage inspection fees 140,502 251,956 353,638 Passengers walkway 333,134 562,192 644,356 Passengers documentation counters 9,383 20,187 29,841 Other airport services 252,777 336,284 499,299 Ps. 5,637,758 Ps. 9,694,640 Ps. 14,485,828 Non regulated services: Non regulated services for revenue from contracts with customers: Retail stores Ps. 461,502 Ps. 1,004,332 Ps. 1,422,651 Access fees on non permanent ground transportation 29,967 59,625 82,857 Car parking and related Access fees 171,193 316,356 416,767 Other services 122,751 187,273 280,671 785,413 1,567,586 2,202,946 Commercial services 2,544,474 4,376,269 5,932,414 Total non regulated services (**) 3,329,887 5,943,855 8,135,360 Construction services 3,657,086 3,146,166 2,692,694 Total Ps. 12,624,731 Ps. 18,784,661 Ps. 25,313,882 (*) For 2020, 2021 and 2022, this amount includes Mexico regulated income of Ps.3,340,674, Ps.6,492,691 and Ps.10,358,492, respectively, Aerostar regulated income of Ps.1,808,102, Ps.2,027,188 and Ps.2,100,275, respectively, Airplan regulated income of Ps.488,982, Ps.1,174,761 and Ps.2,027,061, respectively. (**) This line item in the consolidated statement of income (non-aeronautical services) includes complementary and airport services totaling Ps.225,340, Ps.286,042 and Ps.413,322 for the 2020, 2021 and 2022 periods, respectively. Puerto Rico According to the agreement entered into by the Puerto Rico Authority and Aerostar, Aerostar income is classified as either regulated services or non-regulated services. See Notes 3.1.1 and 3.1.2. Colombia Under resolution 4530 of the Special Administrative Unit of Civil Aeronautics in Colombia, Airplan revenue is classified as either regulated services or non-regulated services. See Notes 3.1.1 and 3.1.2. The following table sets forth revenue from leasing of commercial spaces by type for the years indicated. Year ended of December 31, 2020 2021 2022 Commercial revenues: Duty free shops Ps. 991,833 Ps. 1,746,097 Ps. 2,495,826 Food and beverage 449,340 823,883 1,243,576 Advertising revenues 92,683 129,589 151,741 Car rental companies 485,725 953,085 1,110,926 Banking and currency exchange servcies 72,563 107,228 102,783 Teleservices 15,174 17,539 15,538 Ground transportations 49,721 95,690 131,653 Other services 387,435 503,158 680,371 Total commercial revenues Ps. 2,544,474 Ps. 4,376,269 Ps. 5,932,414 The following table sets the domestic and international passenger traffic, in thousands, for the years, 2020, 2021 and 2022: Year ended of December 31, 2020 2021 2022 Domestic passenger traffic: Mexico 9,246 15,057 18,701 Puerto Rico 4,548 9,139 9,404 Colombia 3,625 8,984 13,718 Total domestic passengers 17,419 33,180 41,823 International passenger traffic: Mexico 7,283 14,081 20,823 Puerto Rico 298 545 907 Colombia 590 1,546 2,788 Total international passengers 8,171 16,172 24,518 Total passengers 25,590 49,352 66,341 The increase in revenue in 2022 and 2021 is shown below respectably, by country, without considering construction services which does not depend directly on passenger traffic: Year ended of December 31, % Change 2022 % Change 2022 2020 2021 2022 compared to 2020 compared to 2021 Aeronautical revenue Mexico Ps. 3,115,335 Ps. 6,206,649 Ps. 9,945,180 219.23 60.23 Puerto Rico 1,808,102 2,027,188 2,100,276 16.16 3.61 Colombia 488,981 1,174,762 2,027,061 314.55 72.55 Total aeronautical revenue Ps. 5,412,418 Ps. 9,408,599 Ps. 14,072,517 160.00 49.57 Non-aeronautical revenue Mexico 2,517,816 4,384,946 6,297,790 150.13 43.62 Puerto Rico 740,450 1,394,346 1,598,601 115.90 14.65 Colombia 296,961 450,604 652,280 119.65 44.76 Total non-aeronautical revenue Ps. 3,555,227 Ps. 6,229,896 Ps. 8,548,671 140.45 37.22 Total without construction revenue Ps. 8,967,645 Ps. 15,638,495 Ps. 22,621,188 152.25 44.65 Following is the estimated future income for next year’s arising from non-cancelable operating leases, considering minimum rent commercial leases. For the years that will end December 31: Year ended December 31, 2020 2021 2022 2021 Ps. 2,515,572 2022 2,315,111 Ps. 3,684,803 2023 2,184,496 3,415,663 Ps. 4,531,807 2024 1,943,444 2,962,391 4,070,098 2025 1,857,885 2,821,799 3,869,058 2026 a 2030 2,380,113 3,744,757 6,042,832 Total Ps. 13,196,621 Ps. 16,629,413 Ps. 18,513,795 3.2.) Other income During year 2020, insurance recovery was obtained (due to Hurricane Maria landfall in 2017) for USD7.3 million, approximately Ps.158,906, which are recognized in the comprehensive statement of income. In 2022, the line of other income is made up of operations from previous years which were in dispute and had favorable resolutions by the authorities in 2022 as follows: Year ended December 31, 2022 Other income: Income recovery from the fuel distribution fee at the LMM Airport (Note 15 i) Ps 300,384 Income recovery due to regularization of car rental companies 45,848 Ps 346,232 This other income corresponds in both cases to income for the years 2014-2022. This recovery is non-recurring and from 2023 the part corresponding to the revenue from fees on fuel distribution at the LMM Airport (USD0.02 cents per gallon or fraction of a gallon of avation fuel fispatched at the LMM Airport), will be recorded in the aeronautical revenue line from the subsidiary Aerostar. (See Note 15i). The recovery of income for regularization of car rental companies come from an operational agreement of car rental operation outside the airport reached by Aerostar and car rental companies that operated outside the airport on public roads and for which a favorable resolution was obtained by the Puerto Rico District Court and a collection check was obtained for the amount of USD2,225 (Ps.45,848). This recovery is non-recurring and from 2022, the corresponding part will be recorded in the non-aeronautical revenue line from the subsidiary Aerostar. |
Costs and expenses by nature_
Costs and expenses by nature: | 12 Months Ended |
Dec. 31, 2022 | |
Costs and expenses by nature: | |
Costs and expenses by nature: | Note 4 - Costs and expenses by nature: Year ended December 31, 2020 2021 2022 Short term benefits Ps. 1,039,883 Ps. 1,167,302 Ps. 1,235,765 Electric power 382,026 419,909 544,397 Maintenance and conservation 447,884 611,274 596,043 Professional fees 251,621 225,321 227,817 Insurance and bonds 127,750 227,342 151,041 Surveillance services 275,206 294,807 329,414 Cleaning services 207,599 209,447 263,177 Technical assistance (Note 14.4) 175,615 391,698 643,891 Right of use of assets under concession (DUAC) (1) 535,379 948,062 1,424,066 Amortization and depreciation of intangible assets, furniture and equipment 1,934,766 1,993,342 2,059,237 Consumption of commercial items 169,298 333,192 489,244 Construction services (Note 3.1.3) 3,657,086 3,146,166 2,692,694 Termination benefits (Note 17.17) 2,382 2,866 4,343 Employees’ statutory profit sharing 3,115 84,670 104,731 Impairment of accounts receivable (Note 6) 154,417 9,331 9,681 Other 143,409 62,258 186,424 Total aeronautical and non-aeronautical services costs, costs of construction services and administrative expenses Ps. 9,507,436 Ps. 10,126,987 Ps. 10,961,965 (1) As of December 31, 2020, 2021 and 2022, respectively, Ps.254,337, Ps.476,536 and Ps.733,168, respectively, correspond to the consideration paid for the concessions in Mexico, equivalent to 5% of the gross profits of each concession. Ps.149,602, Ps.308,638 and Ps.504,953 correspond to the consideration of the Airplan concession equivalent to 19% of gross profits. Ps.131,440, Ps.162,888 and Ps.185,945, for the consideration of the Aerostar concession at 5% of the airport’s gross profits. 4.1) Grant - Aerostar CARES Act On May 12, 2020, the United States Government, through the FAA, awarded Aerostar a financial aid grant under the CARES Act amounting to USD 33,417 (approximately Ps. 717,590 ) to respond to the impacts of COVID-19. These funds may be used by the Company within a period of four years and for any purpose for which airport revenues may be lawfully used, except for new airport development projects. The funds were received by means of reimbursements once the invoice for the expense incurred has been submitted to the FAA through the established means. These invoices have to include enough details to permit the FAA to verify compliance with its Revenue Use Policy. After receiving reimbursement of the verified expenses, the Company discounts the related verified expenses within the same period, as refunds to the authorities are not possible. At December 31, 2020, 2021 and 2022, the Company is not in breach of conditions nor are there any other contingencies relating to these grants. The Company did not benefit directly in any other way from government assistance. During 2020, the Company received USD17,125 (approximately Ps.367,752) for reimbursements of invoices submitted to the authority, of which Ps.339,681 are recognized net of the pertinent expense or cost at December 31, 2020. The items to which they relate are the following: Short-term benefits Ps.165,894; Amortization of insurance and bonding Ps.142,274; Others Ps.23,650, which includes sewage services, waste disposal, among others; and Maintenance and preservation Ps.7,863. Advance payments for Insurance and bonding are presented in the Statement of Financial Position as deductions, in accordance with the accounting policy. During 2021, the Company received the amount of USD16,292 (approximately Ps.33,477), related to the complement of the CARES Act, for reimbursements verifications presented to the authority, thus exhausting the resources of the first CARES Act aid program for USD33,417, which are presented net of the expense or cost corresponding to December 31, 2021. The related items are: Short-term benefits Ps.165,489; amortization of Insurance and bonds Ps.31,909; Other Ps.95,118, which includes sewage services, garbage disposal, among others, and Maintenance and conservation Ps.40,961. Advance payments for insurance and bonds are deducted from the statement of financial position, in accordance with accounting policy. During 2022, as resources were spent, no amount was received from this program. CRRSA Act On February 18, 2021, official confirmation was received from the FAA granting Aerostar the approval of this Federal assistance under the Coronavirus Response and Relief Supplemental Appropriation Act (CRRSA Act) for a total amount of USD10,577 (approximately Ps.210,574), without any cost, which can be credited by the Company within a period of 4 years and can be used for costs related to operations: personnel, cleaning services, sanitization and even for equipment replacement strictly related to the operation of the Airport, and additionally can be destined for the payment of debt. The funds will be received by means of reimbursements once the invoice for the expense incurred, which must include sufficient details to allow verification of compliance with the policy for the use of the grant, has been submitted to the FAA through the established means. During the years of 2021 and 2022, the Company received the amount of USD983 and USD9,594, respectively (Ps.20,122 and Ps.196,376, respectively, approximately), for reimbursements of verifications presented to the authority, which are presented net of the corresponding expense or cost. as of December 31, 2021 and 2022. The items related to short-term 2021 benefits amounted to Ps.20,122. In 2022 the Company received the amount of Ps.196,376, corresponding to the following: salaries in the amount of Ps.73,503, taxes and duties in the amount Ps.59,297; maintenance and upkeep in the amount of Ps.31,362, and other in the amount of Ps.32,213, which includes ambulance services, security and surveillance, cleaning, among others. And in 2021 for another Ps.20,122. As of December 31, 2021 and 2022, there are no unfulfilled conditions or other contingencies related to these grants. ARPA Act On November 5, 2021, the Federal Aviation Administration awarded subsidiary Aerostar an airport rescue grant offer under the American Rescue Plan Act (ARPA) for a total amount of USD35,716 (approximately Ps.731,106), at no cost, for a period of 4 years and can be used to finance costs related to staff operations, cleaning, disinfection, and even payment of debt service. During the year 2022, the Company received USD17,515 (approximately Ps.350,901) which includes benefits in: Insurance and bond amortization Ps.126,285, salaries Ps.109,241, taxes and duties Ps.74,934, cleaning services Ps.22,937 and other Ps.17,504. As of December 31, 2021, the Company did not use these resources. As of December 31, 2022, there are no unfulfilled conditions or other contingencies related to these grants. (See Note 17.22). 4.2) Mexico subcontracting reform On April 23, 2021, several provisions were published in the Federal Labor Law, Social Security Law, Law of the Institute of the National Housing Fund for Workers, Fiscal Code of the Federation, Income Tax Law and Value Added Tax Law in order to regulate the subcontracting of personnel. In general terms, the main aspects are: a) prohibit the subcontracting of personnel, b) incorporate rules into the current legislation that allow legal entities and individuals to contract only specialized services or the execution of specialized works, provided that they are not part of the corporate purpose or the predominant economic activity of the beneficiary of the same, c) establish maximum amounts for the payment of PTU, and d) creation of the Registry of Providers of Specialized Services and Specialized Works (REPSE) of the Ministry of Labor and Social Welfare (STPS). These subcontracting reforms entered into force the day after their publication, except for what refers to the obligations indicated in fiscal matters which entered into force on August 1, 2021 and those of the regulations of Section B), of the Federal Law of Workers to State Service that came into force in the year 2022. The Company carried out an analysis on the application of these new provisions and did not have a material impact on the consolidated financial statements. |
Cash and cash equivalents_
Cash and cash equivalents: | 12 Months Ended |
Dec. 31, 2022 | |
Cash and cash equivalents: | |
Cash and cash equivalents: | Note 5 - Cash and cash equivalents: December 31, 2021 2022 Cash held at banks Ps. 6,589,294 Ps. 7,667,651 Short term investments 2,180,768 5,507,340 Total cash and cash equivalents Ps. 8,770,062 Ps. 13,174,991 5.1) Restricted cash Aerostar In accordance with Aerostar's long-term bond placement contracts, it is required to maintain debt reserves and operating expenses, under two options described in the contract: 1) cash, through a specific bank account or 2) letter qualified credit. Until February 2022, this requirement was covered by the letter of credit issued by Aerostar stockholders in favor of Citibank, which generated commissions (recognized as an expense) thus having the guarantee of a third party. Derived from Aerostar's available liquidity, as of March 2022, the Administration decided to meet these reserves with the cash that was available, for which, through a specific bank account, it maintains the amount that is restricted for reserves. The Company does not have immediate access to these resources because it is required to maintain reserves at all times and the use of these reserves is subject to authorizations in accordance with the bond placement agreements. These deposits are subject to contractual restrictions and therefore are not available for general use. As of December 31, 2022, the restricted cash balance amounts to Ps.1,175,622. As of December 31, 2021 and 2022, restricted cash include the amounts collected by Aerostar for the concept of “Passenger Facility Charge” (PFC) which are restricted to be used to fund investment projects in airport infrastructure previously authorized by the FAA of Ps.123,081 and Ps.96,485, respectively. (See Notes 15.d and 17.6.). Mexico On November 17, 2022, the subsidiary Cancun Airport, as settlor, established an irrevocable trust with the trustee Scotiabank Inverlat, S.A., for the creation of a financial reserve that allows the airport to face their respective investment obligations under the 2022 Master Development Program for the amount of Ps.148,621. The trust will be established until December 31, 2023. The trustee will receive instructions from the Trust’s Technical Committee to make the payments pursuant to its investment obligations. These deposits are subject to restrictions established by the contract itself and therefore are not available for general use. |
Accounts receivable - Net_
Accounts receivable - Net: | 12 Months Ended |
Dec. 31, 2022 | |
Accounts receivable - Net: | |
Accounts receivable - Net: | Note 6 - Accounts receivable - Net: 6.1) Accounts receivable December 31, 2021 2022 Clients Ps. 2,191,439 Ps. 2,843,870 Less: impairment provision (317,664) (301,947) 1,873,775 2,541,923 Notes receivable from clients 4,463 — Total accounts receivable Ps. 1,878,238 Ps. 2,541,923 The expectation for collection of the short-term account receivable is one month in relation to the reporting date. In 2020 the Company signed agreements including collection guarantees with clients facing constraints during the year, whereby it extended the payment term specifically for these clients for a period no longer than one year, which ended during 2022. All related balances were repaid upon conclusion of the extended terms. (See Note 6.2). Accounts receivable are comprised mainly of TUA paid by passengers (other than diplomats, infants and passengers in transit) who travel using the airport terminals operated by the Company. The balance at December 31, 2021 and 2022 amounted to Ps.1,139,818 and Ps.1,323,005, respectively. 6.2) Notes receivable from clients The Company has agreed with several clients, whose income derives from airport services, in view of the economic recession caused by COVID-19, to extend the collection terms from 30 to 180 days guaranteed upon execution of the agreement through the signature of promissory notes, establishing monthly payments and falling due within a term no longer than a year. The maturities of theses clients return to 30 days once the term of the agreement settled as from the second quarter of 2021. As of December 31, 2021 the balance amounted to Ps.4,463 and as of December 31, 2022, the balance of the account of notes receivable was settled without any losses. The documents have the following features: Mexico - Falling due no later than a year at the interest rate for Federal Treasury Certificates (Cetes) plus 7 points multiplied by 1.5, interest accrued in the period is not material. Airplan - Falling due before one year at the interest rate of DTF plus four points, interest accrued in the period is not material. These notes receivables were subject to impairment testing and analysis, and therefore, they have been grouped in the same category of risk. Considering the prospective factors of clients with which notes receivable are recorded, no expected losses were identified as regards notes receivable. 6.3) Impairment of accounts receivable After the assessment made by the Company with respect to its clients, the Company decreased the consolidated impairment allowance for accounts receivable by Ps.28,519 in 2021 with respect to 2020 and decreased by Ps.15,517 in 2022 with respect to 2021. At December 31, 2021, the total balance of unimpaired accounts receivable was Ps.1,487,553 and at December 31, 2022 was Ps.1,917,501. These accounts refer to clients that have no recent record of noncompliance, and due to their positive performance with the company, no increase the level of credit risk was identified in our prospective assessment. In Mexico, impairment of accounts receivable for the year 2021 and 2022 amounted to Ps.9,331 and Ps.5,707, respectively. As of December 31, 2021 and 2022, in accordance with our analyses, no future noncompliance is expected, as they were able to access to financing and governmental economic aid, in the case of international airlines, which will enable them to continue meeting their financial commitments. The Company monitors the accounts receivable performance and takes measures in this regard, has the ability to suspend the provision of the services if there are situations outside its policy for maturities exceeding 30 days, which keeps the level of exposure at a low risk. In Aerostar, applications to the allowance for impairment of accounts receivable were recorded in 2021 and 2022 for Ps.36,275 and Ps.7,997 mainly accounted for by international airlines, which, according to the Company’s analysis and current uncertainty, may cease some recurring international operations in the LMM Airport as a result of the decrease in international passenger traffic. traveling directly to the LMM Airport. Passengers at this airport mainly relate to domestic traffic. In 2021 and 2022 domestic traffic represented 94% and 91%, respectively. National airlines in the US benefited from government grants, including accounts receivable at December 31, 2021 and 2022. As international airlines do not benefit from governmental aid in their respective countries and together with other factors described, the Company had considered that their collection could be at risk. However, during 2022 and 2021 there were no significant defaults in payments in connection with international airlines collections. In Airplan, applications to the estimate for impairment of accounts receivable were recorded in 2021 were of Ps.1,575 and in 2022 applications to the estimate for impairment were of Ps.17,401 as well as an increase of Ps.3,974. According to our analysis, no significant future defaults are expected because Airplan’s clients have been able to access refinancing plans and possible government support from the Colombian government. The Company monitors the behavior of accounts receivable and takes measures in this regard, having the ability, where appropriate, to prevent service to its customers, to find situations outside of what is established in its policy for the accounts having maturities greater than 30 days, which keeps the level of exposure at a risk. The movements in the impairment provision are as follows: Provision for impairment at January 1, 2021 Ps. 346,183 Mexico's increase 9,331 Application of Aerostar's estimate (36,275) Application of Airplan's estimate (1,575) Provision for impairment at December 31, 2021 Ps. 317,664 Mexico's increase Ps. 5,707 Application of Aerostar's estimate (7,997) Airplan 's increase 3,974 Application of Airplan's estimate (17,401) Provision for impairment at December 31, 2022 Ps. 301,947 Provision for impairment of accounts receivable has been recorded in the consolidated comprehensive income statement under cost of services, and the amounts charged to the provision are written off from accounts receivable when recovery is not expected. In order to measure expected credit losses, accounts receivable and contract assets have been grouped on the basis of their shared credit risk features and days past due. The Company held no relevant contract assets at January 1 or December 31, 2021 and 2022. The expected loss rates are based on the profiles for payment of sales in a 12-month period prior to December 31, 2021 and 2022 or January 1, 2021 and 2022, respectively, and on historical credit losses experienced within that period. Historical loss rates are adjusted to reflect current and prospective information on macroeconomic factors affecting client capacity for covering accounts receivable. The Company has determined that the economic situation of a country can have adverse effects on the transportation industry, in addition to the cost of complying with aviation regulations and union pressures on airlines, which are the most relevant factors, and therefore adjusts historical loss rates based on changes expected in those factors. On this basis, the provision for impairment of accounts receivables as of December 31, 2021 and December 31, 2022 was determined as follows for accounts receivable and contract assets: Due to More than expire 1 to 90 91 to 180 181 to 365 365 Expected loss rate 2021: Mexico 0.00 % 0.02 % 19.20 % 100.00 % 100.00 % Aerostar 5.40 % 5.10 % 43.70 % 87.50 % 100.00 % Airplan 0.83 % 0.83 % 0.83 % 100.00 % 100.00 % Due to More Total estimate expire 1 to 90 91 to 180 181 to 365 than 365 12/31/2020 At December 31, 2021 Mexico’s accounts receivables Ps. 1,487,553 Ps. 44,571 Ps. 6,429 Ps. 78,432 Ps. 129,056 — Mexico’s provision impairment 9 1,234 78,432 129,056 Ps. 208,731 Aerostar’s account receivables 140,588 98,868 63,952 772 10,734 — Aerostar’s provision impairment 7,657 5,042 27,947 676 10,734 52,056 Airplan’s accounts receivables — 82,638 561 22,807 24,478 — Airplan’s provision impairment — 9,030 561 22,807 24,478 56,877 Total estimate Ps. 317,664 Due to More than expire 1 to 90 91 to 180 181 to 365 365 Expected loss rate 2022: Mexico 0.00 % 0.02 % 19.20 % 100.00 % 100.00 % Aerostar 5.40 % 5.10 % 43.70 % 87.50 % 100.00 % Airplan 0.83 % 0.83 % 0.83 % 100.00 % 100.00 % Due to More Total estimate expire 1 to 90 91 to 180 181 to 365 than 365 12/31/2021 At December 31, 2022 Mexico’s accounts receivables Ps. 1,917,501 Ps. 66,618 Ps. 10,212 Ps. 81,836 Ps. 129,056 — Mexico’s provision impairment 1,586 1,960 81,836 129,056 Ps. 214,438 Aerostar’s account receivables 441,967 52,014 1,118 264 50 — Aerostar’s provision impairment 40,637 2,653 489 230 50 44,059 Airplan’s accounts receivables 64,761 36,943 183 16,869 24,478 — Airplan’s provision impairment 4,027 183 14,762 24,478 43,450 Total estimate Ps. 301,947 The Group limits its exposure to credit risk of accounts receivable establishing a maximum payment term of 30 days for clients. In the fiscal years ended December 31, 2021 and 2022, the accounts receivable past due not impaired within the range from 1 to 90 days amounted to Ps.211,995 and Ps.147,309, respectively. The total amount of all accounts receivable past due not impaired within a range from 1 to more than 365 days, at December 31, 2021 and 2022, amounted to Ps.253,291 and Ps.158,331, respectively. |
Land, furniture and equipment -
Land, furniture and equipment - Net: | 12 Months Ended |
Dec. 31, 2022 | |
Land, furniture and equipment - Net: | |
Land, furniture and equipment - Net: | Note 7 - Land, furniture and equipment - Net: At December 31, 2021, and 2022, the land furniture and equipment are made up as follows: Foreign currency 1/1/2021 translation Additions Disposals transfers 12/31/2021 Land Ps. 302,323 Ps. (35) Ps. (302,049) Ps. 239 Furniture & equipment 117,062 131 Ps. 6,201 (2,029) 121,365 Machinery & equipment 143,618 3,916 11,515 159,049 Computer equipment 71,571 2,303 12,806 86,680 Transport equipment 33,269 917 1,882 36,068 Improvements to leased premises 63,450 1,943 19,268 (1,173) 83,488 Accumulated depreciation (226,908) 757 (78,053) 1,905 (302,299) Ps. 504,385 Ps. 9,932 Ps. (26,381) Ps. (303,346) Ps. 184,590 Foreign currency 1/1/2022 translation Additions Disposals transfers 12/31/2022 Land Ps. 239 Ps. (46) Ps. 193 Furniture & equipment 121,365 (1,051) Ps. 14,578 Ps. (3,133) 131,759 Machinery & equipment 159,049 (7,345) 9,082 160,786 Computer equipment 86,680 (4,754) 16,845 98,771 Transport equipment 36,068 (1,931) 5,292 39,429 Improvements to leased premises 83,488 (3,500) 13,012 93,000 Accumulated depreciation (302,299) 13,703 (64,338) (352,934) Ps. 184,590 Ps. (4,924) Ps. (5,529) Ps. (3,133) Ps. 171,004 The consolidated depreciation expense for 2020, 2021 and 2022 was Ps.84,895, Ps. 78.053 The depreciation expense for 2021 and 2022 for the right-of-use assets for consolidated leasing was Ps.6,467 and Ps.5,457 in Mexico, there was no recognition of right-of-use assets for leasing in Aerostar and Airplan. During the second quarter of 2021, FONATUR and the Company entered into an agreement to terminate the sales contract for the land of Huatulco, FONATUR paid the Company Ps.286,283 which was the price that the Company initially paid for the land. 7.1) Right-of-use assets of leasing assets As of December 31, 2021 and 2022, right-of-use assets associated with property leases, amounted to Ps.18,879 and Ps.24,451, respectively, and the associated liability amounted to approximately Ps.24,510 and Ps.23,547 respectively, which are not significant. Lease liabilities are measured at the present value of remaining lease payments, discounted at the interest rate of the lessee. The weighted average interest rates of the lessee applied to lease liabilities at January 1, 2022 were 9.2% and 9.7% for the new contracts of the year during 2021. The Company has executed a contract for the lease of corporate offices and commercial vehicles. The general terms of the lease contracts are shown below: Corporate offices in Mexico: Separate contract including the following terms and conditions: i) 5-year 2-month Lease of commercial vehicles in Mexico: A framework contract, governs our lease of commercial vehicles in Mexico, with separate contracts by vehicle, which includes the following terms and conditions: i) minimum term of 48 months; ii) monthly fixed payments and an extraordinary one-off rent payable in the first month; iii) cash value to be settled at the end of the minimum term; iv) the lessee shall have a preferential right to acquire the underlying assets at the end of the contractual term; and v) in the event of nonpayment of lease payments, default interest shall accrue at a monthly rate of 3%. The lease agreements and service contracts for which lease assets identified in accordance with IFRS 16 were not significant for the Company and they recognized each other within the Land, furniture and equipment, net. (See Note 17.8). |
Intangible assets, airport conc
Intangible assets, airport concessions and goodwill - Net: | 12 Months Ended |
Dec. 31, 2022 | |
Intangible assets, airport concessions and goodwill - Net: | |
Intangible assets, airport concessions and goodwill - Net: | Note 8 - Intangible assets, airport concessions and goodwill - Net: The movements of intangible assets of airport concessions in the periods presented in the consolidated financial statements are as follows: Foreign currency 1/1/2021 translation Additions (**) Transfers 12/31/2021 Concessions (Regulated Activity) Ps. 52,685,526 Ps. (284,573) Ps. 219,336 Ps. 2,113,556 Ps. 54,733,845 Contracts assets 3,704,065 8,403 3,146,143 (2,113,556) 4,745,055 Contractor advance 431,805 (104) 278,496 710,197 Licences and ODC 364,727 27,685 392,412 Commercial Right’s (Unregulated Activity) 6,490,236 182,071 6,672,307 Goodwill 2,567,365 35,877 2,603,242 Accumulated amortization (14,061,413) 92,993 (1,915,289) (15,883,709) Ps. 52,182,311 Ps. 34,667 Ps. 1,756,371 Ps — Ps. 53,973,349 Foreign currency 1/1/2022 translation Additions (*) Transfers 12/31/2022 Concessions (Regulated Activity) Ps. 54,733,845 Ps. (1,850,332) Ps. 134,622 Ps. 3,424,706 Ps. 56,442,841 Contracts assets 4,745,055 (19,605) 2,692,694 (3,424,706) 3,993,438 Contractor advance 710,197 (67) (332,033) 378,097 Licences and ODC 392,412 27,027 419,439 Commercial Right’s (Unregulated Activity) 6,672,307 (324,598) 6,347,709 Goodwill 2,603,242 (133,864) 2,469,378 Accumulated amortization (15,883,709) 485,787 (1,994,899) (17,392,821) Ps. 53,973,349 Ps. (1,842,679) Ps. 527,411 Ps. — Ps. 52,658,081 (*) Within the most significant additions in 2021 are: In Mexico a) the continuation of the expansion works of the terminal building, commercial platform and roads at the Merida Airport; b) the continuation of the expansion works of terminal 3 and expansion works of terminal 4, expansion of taxiways, expansion of platforms and roads at Cancun Airport, c) New terminal in Tapachula Airport. At Aerostar, the most significant addition is the expansion works of Terminal D at the LMM Airport. (**) Within the most significant additions in 2022 are: In Mexico a) the continuation of the expansion works of the terminal building, commercial platform and roads at the Merida Airport; b) the continuation of the expansion works of terminal 3 and expansion works of terminal 4, expansion of taxiways, expansion of platforms and roads at Cancun Airport. At Aerostar, the most significant addition is the expansion works of Terminal D at the LMM Airport. The consolidated expense for amortization of intangibles related to concessions were Ps.1,820,239, Ps.1,877,315 and Ps.1,945,184 in 2020, 2021 and 2022 and has been charged to the cost of aeronautical and non-aeronautical services, this amount includes the amortization of commercial rights of Ps.181,545, Ps.186,638 and Ps.177,558 for 2020, 2021 and 2022 respectively, recognized by the valuation of its investment in accordance with IFRS 3 “Business combinations”, and the amortization of the intangible assets of Airplan for Ps.101,795, Ps.104,651 and Ps.99,560 for 2020, 2021 and 2022, respectively. The amortization expense of the Mexican concession by Ps.686,460 in 2020, Ps.759,798 in 2021 and Ps.863,183 in 2022 has been charged to the cost of the aeronautical and non-aeronautical services. The amortization expense of the Aerostar concessions by Ps.492,505 in 2020, Ps.486,507 in 2021 and Ps.489,041 in 2022 has been charged to the cost of aeronautical and non-aeronautical services. The amortization expense of the Airplan concessions by Ps.357,934 in 2020, Ps.339,676 in 2021 and Ps.315,848 in 2022 has been charged to the cost of aeronautical and non-aeronautical services. The expense for amortizing licenses and ODC by Ps.29,632 in 2020, Ps.37,974 in 2021 and Ps.49,715 in 2022 has been charged to administrative expenses. 8.1) Impairment testing of intangible assets, airport concessions and goodwill The Company reviews the performance of business in the countries where subsidiaries operate, considering three CGUs per country of operation. During 2021 and 2022 there was a significant passenger recovery due to the easing of measures that were taken in 2020 as consequence of COVID-19. CGUs had growth of 76.3% and 35% in Mexico, 99.9% and 6.5% in Aerostar and, 149.8% and 56.8% in Airplan, compared to 2020 and 2021 respectively. This situation meant that during the year there were no events that constituted indications of impairment in any of the 3 countries, so that the Administration was not obliged to perform impairment tests on all intangible assets and airport concessions. In the Aerostar and Airplan CGUs, the required annual impairment tests were carried out at the value of goodwill, which as of December 31, 2022 is Ps.2,469,378. Goodwill is assigned to the operating segments that are expected to benefit from the synergies of the business combination, regardless of whether other assets or liabilities of the acquired entities are assigned. The following is a summary of the allocation of goodwill: December 31, 2021 2022 Aerostar Ps. 997,644 Ps. 930,231 Airplan 1,605,598 1,539,147 Ps. 2,603,242 Ps. 2,469,378 Methodology: Pursuant to IAS 36 methods applied to the 2021 and 2022 calculation, Management determines the recoverable value by the fair value less costs of disposal. The Company used this method for all its CGUs. To determine the fair value less costs of disposal the discounted cash flow projections approved by Management are used covering a period of 31 years in 2021 and 30 years in 2022, respectively, in the case of Aerostar and 11 years in 2021 and 10 years in 2022, respectively, in the case of Airplan, which correspond to the remaining years of the airport concessions. As of December 31, 2021 and 2022, the Company uses as a valuation technique to estimate the recoverable amount, which uses a single cash flow scenario, the expected cash flow approach, which uses multiple probability-weighted flow scenarios. This approach uses several cash flow projections considering the probabilities assumed of different events and/or scenarios instead of a single cash flow scenario. Although there may be several scenarios and probabilities, the Company considered that the three scenarios detailed below (base, positive and negative) reflect a representative sample of possible outcomes. The calculations use cash flow projections that are based on financial budgets and business plans prepared by management and approved by the board of directors. Budgets and business plans are updated to reflect the most recent developments as of the reporting date. Management's expectations reflect performance to date and are based on its experience in times of recession and are consistent with the assumptions a market participant would make. The calculations are based on studies carried out by independent third parties specialized in the aeronautical industry. For the year ending December 31, 2021, the aforementioned calculations were prepared in conjunction with studies published by the International Civil Aviation Organization (ICAO). For the year ending December 31, 2021 and for the CGU, Airplan, which had not yet recovered the passenger levels it had in 2019, the aforementioned calculations were made based on studies published by the International Civil Aviation Organization (ICAO), which contemplated the economic impacts of COVID-19 and presented different recovery curve scenarios. Due to specific circumstances of each market in which the Company operates, the following scenarios were considered appropriate: Positive - For the development of the positive scenario of each of the CGUs, a greater growth in passenger traffic was contemplated based on the historical results of the Company as well as the prompt recovery that it had after COVID-19, that is, the Administration considered increasing within these scenarios a percentage applied to passenger traffic in each of the remaining years of the life of each of the concessions, in the case of Airplan and Aerostar Base - To construct the base scenario of each CGU, current effects on the industry impacting on each CGU were considered as well as the recovery and growth obtained from the studies performed by Management through specialized third parties of the industry. Negative - For the development of the negative scenario of each of the CGUs, a lower flow in passenger traffic was considered, that is, the Administration considered reducing the base scenario by a percentage applied to passenger traffic in each of the remaining years of the period of life of each one of the concessions. In the case of Airplan The expected probability-weighted cash flow determined by the Company consisted of assigning a probability to the 3 scenarios mentioned above. The Company estimated a weighing for each of the scenario as follows: 2021 2022 Airplan Aerostar Airplan Aerostar Negative scenario 20.00 % 15.00 % 15.00 % 15.00 % Base scenario 70.00 % 75.00 % 75.00 % 75.00 % Positive scenario 10.00 % 10.00 % 10.00 % 10.00 % 100.00 % 100.00 % 100.00 % 100.00 % No impairment was recorded in any of the CGUs under any of these 3 scenarios or under that of expected probability-weighted cash flows. The assumptions used to estimate the recoverable amount are consistent with assumptions made by a market participant. For each CGU, the key assumptions for the base scenario were the following during 2021 and 2022: 2021 Airplan Aerostar Discount rate 8.57 % 9.26 % Operating costs and expenses annual average 3.00 % 3.00 % Passenger growth rate in the recovery period of each CGU 18.96 % — * Recovery period(years) 1 — * Average growth rate of passengers in the period after the recovery of passengers for each CGU 4.90 % 1.70 % Hierarchy level of the fair value of the recoverable of the CGU 3 3 * This CGU recovered its passenger levels during 2021, taking into account 2019. 2022 Airplan Aerostar Discount rate 15.31 % 10.21 % Operating costs and expenses annual average 4.00 % 3.90 % Passenger growth rate in the recovery period of each CGU — ** — Recovery period(years) — ** — Average growth rate of passengers in the period after the recovery of passengers for each CGU 4.79 % 2.50 % Hierarchy level of the fair value of the recoverable of the CGU 3 3 ** This CGU recovered its passenger levels during 2022, taking into account 2019. Management has determined the values assigned to each of the above key assumptions as follows: 2021 and 2022 Assumption Approach used to determine values Discount rates The after-tax discount rates were used from information of listed companies of the industry where each CGU operates. Average growth rate for operating costs and expenses. Average growth rate during the concession period, which is based on the latest period and projected inflation trends. Growth rate of passengers (during the recovery period of each CGU).(assumption applicable in 2021 for the Airplan CGU, in 2022 no longer applies to any CGU) Weighted average growth rate of departing passengers during the recovery period aligned with industry growth. Growth rate of departing passengers (after the recovery period of each CGU). Weighted average growth rate of departing passengers during the concession period aligned with operating and financial growth under a recovered economic environment in terms of passenger traffic. For the year 2022, sensitivity analyses were applied to projections of each CGU as shown below. Taking the base scenario and applying a sensitivity analysis to the discount rate by +1% or -1% in each CGU, cash flow projections would have generated an effect of recognizing an impairment of Ps. 843,424 and an excess of Ps. 3,725,218 , in Aerostar, respectively, and an excess of Ps. 235,889 and Ps. 424,719 in Airplan, respectively. When making a sensitivity analysis on the discount rate of the expected probability-weighted cash flow, there are no significant variations compared with the base scenario. Further, if the variables of the three scenarios remain constant, including the discount rate, and after the sensitivity analysis performed by the Company on the weighing allocated to each scenario, even considering the negative scenario at 100%, no impairment would be recorded in any of the CGUs. For the year 2021, sensitivity analyses were applied to projections of each CGU as shown below. Taking the base scenario and applying a sensitivity analysis to the discount rate by +1% or -1% in each CGU, cash flow projections would have generated an effect of an excess of Ps.61,088 and Ps.4,120,188, in Aerostar, respectively, and Ps.258,900 and Ps.620,260 in Airplan, respectively. When making a sensitivity analysis on the discount rate of the expected probability-weighted cash flow, there are no significant variations compared with the base scenario. Further, if the variables of the three scenarios remain constant, including the discount rate, and after the sensitivity analysis performed by the Company on the weighing allocated to each scenario, even considering the negative scenario al 100%, no impairment would be recorded in any of the CGUs. 8.2) Basic terms and conditions of the concessions Mexico: The basic terms and conditions of each concession are the following: a. The concession holder must undertake the construction, improvement and maintenance of the facilities in accordance with its Master Development Plan (MDP) and is required to update the plan every five years. (See Note 15.b). b. The concession holder may only use the airport facilities for the purposes specified in the concession and must provide services in accordance with all applicable laws and regulations, and is subject to statutory oversight by the SCT. The concession holder shall pay a DUAC (currently 5% of the gross income of the concession holder, resulting from the use of public assets in accordance with the terms of the concessions) as required by the applicable law. DUAC is presented in the consolidated statement of income under “Cost of aeronautical services”. (See Note 4). c. Fuel services and fuel supply are to be provided by the Mexican Airport and Auxiliary Services Agency, a Decentralized Public Entity. d. The concession holder must grant access to and the use of specific areas of the airport to government agencies to perform their activities inside the airports. e. The concession may be terminated if the concession holder fails to comply with certain of the obligations imposed by the concession as established in Article 27 or for the reasons specified in Article 26 of the Airport Law. f. Revenues resulting from the concession are regulated and subject to a review process. See (Note 18.1.3). g. The terms and conditions of the regulations governing the operations of the Company may be modified by the SCT. Aerostar: The purpose of the Aerostar concession (Agreement) is to operate the public airport safely by maintaining the highest possible levels of safety and protection at the LMM Airport, and promoting, facilitating and improving commerce, tourism and economic development. The Puerto Rico authorities, Aerostar and the other airlines have agreed to the terms and conditions of the LMM Airport Facility Contract. The concession period is 40 years as of the closing of the agreement assigning the Airport’s operating rights (February 27, 2013). Under the Agreement, Aerostar has no rights to control in full the use of the Airport facilities, for example, airport facilities that are under the supervision of the Authority or internal or external security in certain areas and it is required to provide certain maintenance services within the airport. As part of the Agreement, the authorities granted Aerostar the right to sublease the LMM Airport non-aeronautical areas and to collect and retain the fees, charges and payments and income arising from all subleased facilities. According to the provisions of the Agreement, the Company has the right to collect the annual contributions of all airlines, which will be equal to the sum of the: a) platform use fees; b) landing fees; c) other leases, and d) international and domestic airport use fees. The Agreement requires Aerostar to make a cash payment of USD2,500 per year for the first five years after the first five years, the authority establishes a payment of “Annual Authority Income Share”, consisting of 5 % of the gross revenues of the airport obtained by Aerostar from the sixth year to the thirtieth year. From year 31 to 40, this amount will increase to 10% of the airport’s gross revenues. Airplan: The object of the concession contract is the granting by the Civil Aeronautics of Colombia and in favor of Airplan of the concession for the administration, operation, commercial exploitation, adaptation, modernization and maintenance of the airports Antonio Roldán Betancourt, El Caraño, José María Córdova, Las Brujas, Los Garzones, and Olaya Herrera. The term of execution of the contract extends from the date of signing of the act of commencement of execution (May 15, 2008) and until the date on which one of any of the following events occurs: ● That the regulated revenues generated are equal to the expected regulated revenues, provided that by that time 15 years have elapsed from the date of execution of the certificate of commencement of execution. ● That 25 years have elapsed since the date of the execution start certificate regardless of whether, for the time being, regulated revenues generated have not matched the value of the expected regulated revenues. ● If the regulated income generated equals the expected regulated revenue before 15 years have elapsed from the date of execution of the certificate of commencement of execution, the duration of execution of the certificate of commencement of execution and during this term the Concessionaire must execute all the obligations under his charge under the Concession Contract. For purposes of the regulated revenue expected as defined in the concession contract, it must be taken into consideration that the expected regulated revenue will increase once each of the complementary works (mandatory or voluntary) is delivered to the grantor. The Grantors agree to assign the regulated and unregulated revenues corresponding to each of the airports to Airplan. The Concessionaire is obligated, with the grantor to pay, during the term of the contract, a consideration equivalent to 19% of the gross income of the concessionaire. The Concession granted by virtue of this contract imposes on the concessionaire the general obligation to administer, make commercial use and operate the airports in accordance with the minimum specifications set forth in the contract and at their own risk. The determination of the economic useful life of the intangible is subject to the percentage of execution of the revenues with respect to the total expected income of the financial model that the Company has. Contract of Trustee For the administration of the resources of the Concession and the payment of the obligations in charge of the Concessionaire Airplan, it was forced to constitute a trust, to which it transfers all of its gross income received and all the resources of debt and capital that it obtains for the execution of the Concession. The Trustee will maintain, in accordance with current accounting standards, a record of each and every one of the payments and transfers that are made to third parties or to the Concessionaire itself with charge to any of the accounts of the trust. The foregoing without prejudice to understand that the assignment of regulated income and non - regulated income that this agreement makes the Concession is made in favor of the Concessionaire and not the trust and that the debt and capital resources obtained by the Concessionaire should be adequately recorded as such in its own accounting and not in the Trust, since it is constituted solely for purposes of the administration of resources. The constitution of the trust was made through the execution of an irrevocable mercantile trust and administration contract whose term will be the maximum authorized by Colombian commercial laws. 8.3) Subsequent measurement of the intangible asset The Company will subsequently measure the intangible asset over its economic useful life at cost, less accumulated amortization and impairment loss. |
Accounts payable and accrued ex
Accounts payable and accrued expenses: | 12 Months Ended |
Dec. 31, 2022 | |
Accounts payable and accrued expenses: | |
Accounts payable and accrued expenses: | Note 9 - Accounts payable and accrued expenses: At December 31, 2021 and 2022, the balances are as follows: December 31, 2021 2022 Suppliers Ps. 290,687 Ps. 307,068 Taxes payable 311,847 574,311 Use rights of assets under concession 337,087 575,598 Accounts payable to related parties (Note 14.1) 127,901 169,696 Lease payable (Note 7.1) 24,510 23,547 Salaries payable 166,089 187,209 Sundry creditors for services provided 959,376 915,873 Accounts payable to contractors 271,462 61,202 Total Ps. 2,488,959 Ps. 2,814,504 Since these accounts mature at a term of under one year, their fair value is considered to approximate their carrying value. |
Bank loans_
Bank loans: | 12 Months Ended |
Dec. 31, 2022 | |
Bank loans: | |
Bank loans | Note 10 - Bank loans: At December 31, 2021, the Company has used the total amount of these credits as shown below: Credit line used in foreign currency Credit line Principal Commissions and Term Fair Bank at 12/31/2021* used in pesos amortization in pesos interests - Net Short Long value Santander, S. A. Ps. 2,000,000 Ps. (2,000,000) Santander, S. A. 2,650,000 Ps. (10,716) Ps. 1,062 Ps. 2,638,222 Ps. 2,660,990 BBVA Bancomer, S. A. 2,000,000 (8,562) 5,902 1,985,536 2,019,432 BBVA Bancomer, S. A. Ps. 1,980,000 Ps. (1,980,000) Ps. Total México Ps. 8,630,000 Ps. (3,980,000) Ps. (19,278) Ps. 6,964 Ps. 4,623,758 Ps. 4,680,422 Banco Popular de Puerto Rico USD 10,000 Ps. 208,623 Ps. (208,623) Total Aerostar USD 10,000 Ps. 208,623 Ps. (208,623) Bancolombia, S. A. COP 111,750,000 Ps. 801,230 Ps. (68,086) Ps. 16,673 Ps. 74,704 Ps. 675,113 Ps. 560,472 Corpbanca Colombia, S. A. 75,990,000 545,168 (46,298) 11,718 50,191 460,397 381,121 Banco Davivienda, S. A. 67,049,985 480,881 (40,851) 10,081 44,471 405,640 336,283 Banco de Bogotá, S. A. 27,564,211 197,490 (16,794) 3,613 18,350 165,959 138,250 Banco de Occidente, S. A. 27,564,228 197,487 (16,794) 3,497 18,240 165,949 138,250 Banco Popular, S. A. 5,959,029 42,485 (3,631) (57) 3,755 35,041 29,892 Banco AV Villas, S. A. 5,960,000 42,759 (3,631) 937 3,954 36,110 29,892 Servicios Financieros, S. A. 5,960,000 42,490 (3,631) 23 3,843 35,039 29,892 Bancolombia, S. A. 8,128,400 40,995 (40,995) Total Airplan COP 335,925,853 Ps. 2,390,983 Ps. (240,711) Ps. 46,485 Ps. 217,508 Ps. 1,979,248 Ps. 1,644,052 Ps. 11,229,606 Ps. (4,429,334) Ps. 27,207 Ps. 224,472 Ps. 6,603,006 Ps. 6,324,474 * Foreign currency in thousands At December 31, 2022, the Company has used the total amount of these credit lines as shown below: Credit line used in foreign currency Credit line Principal Commissions and Term Fair Bank at 12/31/2022* used in pesos amortization in pesos interests - Net Short Long value Santander, S. A. Ps. 2,650,000 Ps. (650,000) Ps. (5,999) Ps. 1,326,362 Ps. 667,639 Ps. 2,098,793 BBVA Bancomer, S. A. 2,000,000 — (1,866) 160,455 1,837,679 2,061,906 Total México Ps. 4,650,000 Ps. (650,000) Ps. (7,865) Ps. 1,486,817 Ps. 2,505,318 Ps. 4,160,699 Bancolombia, S. A. COP 57,238,256 Ps. 602,121 Ps. (289,119) Ps. 8,922 Ps. 2,035 Ps. 319,889 Ps. 230,399 Corpbanca Colombia, S. A. 38,922,014 409,717 (196,601) 6,858 1,383 218,591 156,671 Banco Davivienda, S. A. 34,342,946 361,391 (173,471) 5,697 1,220 192,397 138,239 Banco de Bogotá, S. A. 14,118,353 148,402 (71,314) 1,864 501 78,451 56,830 Banco de Occidente, S. A. 14,118,362 148,400 (71,314) 1,859 501 78,444 56,830 Banco Popular, S. A. 3,052,194 31,909 (15,417) (97) 108 16,287 12,286 Banco AV Villas, S. A. 3,052,707 32,135 (15,420) 539 108 17,146 12,288 Servicios Financieros, S. A. 3,052,707 31,911 (15,420) (102) 108 16,281 12,288 Total Airplan COP 167,897,539 Ps. 1,765,986 Ps. (848,076) Ps. 25,540 Ps. 5,964 Ps. 937,486 Ps. 675,831 Ps. 6,415,986 Ps. (1,498,076) Ps. 17,675 Ps. 1,492,781 Ps. 3,442,804 Ps. 4,836,530 * Foreign currency in thousands As a result of the business combination in Airplan on October 19, 2017, the Company determined a fair value of the syndicated loan, valued at its amortized cost, increasing its value by Ps. 605,382. The debt contracted in the original currency (the Colombian peso) plus this adjustment to fair value will result in COP.535,125,402 (Ps.3,408,442). The variables used to determine the fair values of loans at December 31, 2021 and 2022 are as follows: Mexico: 2021 and 2022: - TIIE 28 days Discount Rate as of December 31, 2021 and 2022. - Probability of default of ASUR as of December 31, 2021 and 2022 - Default Swaps (CDS) of Mexico as of December 31, 2021 and 2022 Level 2 of fair value hierarchy at December 31, 2021 and 2022. Aerostar: 2021 and 2022: - Yield Spreads to Maturity through the BB-rating curve by industrial sector at December 31, 2021 and 2022. Level 2 of fair value hierarchy at December 31, 2021 and 2022. Airplan: 2021 and 2022: - Reference Discount Rate in Colombia as of December 31, 2021 and 2022. - Probability of default of ASUR as of December 31, 2021 and 2022. - Credit Default Swaps (CDS) of Colombia as of December 31, 2021 and 2022. Level 2 of fair value hierarchy at December 31, 2021 and 2022. Methodology: The following methodology was used to determine fair value in the terms of IFRS 13: The valuation technique used, which is recognized in the financial environment (estimated future cash flows discounted at their present value) using market information available at the valuation date. Mexico: In October 2017, the Company acquired a new loan with BBVA Bancomer of Ps.2,000,000, with a term of seven years, which will be amortized in nine semiannual payments from October 2020 to October 2024 at the TIIE rate of 28 days plus 1.25 points. On April 26, 2021, the Company made a principal payment of Ps.20,000 in accordance with the payment schedule. On October 13, 2021, the Company prepaid the loan amount that amounted to Ps.1,960,000 on that date, without any prepayment penalty. On October 15, 2021, BBVA Mexico granted a loan for the amount of Ps.2,000,000 which proceed are expected to be used for corporate expenses with a term of 7 years, maturing in October 2028, at an annual interest rate equivalent to the TIIE rate to 28 days plus an applicable margin. Applicable margin. If the net leverage index x is a) Less than 1.5X, the applicable margin will be 140 In October 2017, the Company acquired a loan with Banco Santander for Ps.2,000,000. The loan has a term of five years, maturing on October 27, 2022 at the 28-day TIIE rate plus 125 150 In terms of the credits in pesos granted by BBVA Bancomer, the Company is obliged to maintain a consolidated leverage level not exceeding 3.5x calculated as a total financial debt between the (operating profit calculated before taxes, interest expenses, plus depreciation plus amortization at consolidated level) EBITDA for the twelve months prior to the end of each quarter and a minimum interest coverage of 3.0x, calculated as EBITDA between the financial expenses associated with the total financial debt for the 12 months before the end of each quarter. During the year the Company fulfilled these financial obligations, on each quarterly measurement date. At December 31, 2021 and 2022, the Consolidated Leverage Ratio calculated under the contract was 1.3x and 0.12x, respectively, which does not exceed the 3.5x established. In turn, the Debt Coverage Ratio at December 31, 2021 and 2022 was 12.2x and 19.3x, respectively, covering the minimum required of 3.0x as stated in the contract. In terms of the credit in pesos granted by Santander, the Company is obliged to maintain a leverage level on the last day of each fiscal quarter of no more than 3.5x and a minimum interest coverage ratio of 3.0x, both reasons calculated by the 12 months before each quarter. The calculation for the Leverage Ratio and Interest Coverage Ratio will be performed considering the Company’s share in the income/loss of its subsidiaries and other companies in which it holds interest. During the year 2021 and 2022, the Company fulfilled these financial obligations, on each quarterly measurement date. At December 31, 2021 and 2022, the Leverage Ratio calculated under the contract was 0.3x and 0.12x, respectively, which does not exceed the 3.5x set. In turn, the Debt Coverage Ratio at December 31, 2021 and 2022 was 12.2x and 19.3x covering the minimum required of 3.0x as stated in the contract. The Company must refrain from creating, incurring, assuming or generating the existence of any lien on its assets and rights, as well as refraining from assuming obligations of third-party accounts, becoming jointly bound or granting a type of personal real guarantee or fiduciary to guarantee its own or third party obligations that are relevant or may have a significant adverse effect on the payment of the credit. During the year the Company fulfilled these financial obligations. On June 29, 2020, the Company entered into a line of credit with BBVA Bancomer for Ps.1,500,000, for a term of eighteen months counted as from that date, thus falling due on December 29, 2021. The loan is subject to 28-Day Interbank Equilibrium Interest Rate (28 Day TIIE) plus 1.5%. Funds arising from this line of credit may be used for general corporate purposes, expenses and commissions relating to the loan. The Company did not use the funds arising from the credit line. Airplan: On June 1, 2015, the Company incurred a new long-term syndicated loan of COP440,000,000 Colombian pesos (Ps.2,897,404) payable in 2027 with a three-year grace period for the payment of principal. The participants of this syndicated loan are: Amount Entity (thousand of COP) Bancolombia, S. A. COP. 150,000,000 Corpbanca Colombia, S. A. 102,000,000 Banco Davivienda, S. A. 90,000,000 Banco de Bogotá, S. A. 37,000,000 Banco de Occidente, S. A. 37,000,000 Banco Popular, S. A. 8,000,000 Banco AV Villas, S. A. 8,000,000 Servicios Financieros, S. A. 8,000,000 COP. 440,000,000 On April 2022, the Company prepaid COP149,999,914 (Ps.794,510) as follows: Amount Financial entity (thousand COP) Bancolombia, S. A. COP. 51,136,744 Corpbanca Colombia, S. A. 34,772,986 Banco Davivienda, S. A. 30,682,039 Banco de Bogotá, S. A. 12,613,358 Banco de Occidente, S. A. 12,613,366 Banco Popular, S. A. 2,726,835 Banco AV Villas, S. A. 2,727,293 Servicios Financieros, S. A. 2,727,293 COP. 149,999,914 Financial obligations Airplan is obligated throughout the term of the credit to comply with the following financial commitments: Maintain long-term financial indebtedness limited to this syndicated loan operation: This consists of the sum of the balances payable by the debtor during the term of the syndicated loan, as a result of long- and short-term financial indebtedness, the amount of which may not exceed the sum of COP 440,000,000 (Ps. 2,897,404 ). Maintain the capital structure: This addresses the relationship between capital and debt that the debtor must meet in relation to the project throughout the term of the loan, in such a way that the result of the financial indicator Capital 1 (Capital + debt) is equal to or higher than 16% . Maintain the index of debt coverage: This refers to the indicator that the debtor must maintain during the entire term of the loan, defined as: EBITDA - Taxes / Debt service 2: 1.2. In August 2020, Airplan obtained a waiver for non-compliance with the obligation referering to the indicator of the debt coverage index covering the measurement date as of September 30, at December 31, 2020, and util the measurement date of the second quarter of June 30, 2021. Airplan obtained from all the banking institutions participating in the syndicated loan, the necessary waivers to comply with the coverage index indicator, until the date of measurement of the first quarter of 2021 and subsequently extended them until the first quarter of 2022. These waivers do not derive in any sanction nor did they represent an expense or penalty to the entity. With these exemptions described, the Company is covered for possible non-compliance and is exempt from this non-compliance resulting in any sanction or any negative effect in the event of non-compliance with the debt coverage indicator until the measurement date of March 31, 2022. As of December 31, 2021 and 2022, the Company has complied with the debt coverage indicator, which was 2.5 x and 5.7 x, respectively. Aerostar On April 1, 2020, the Company disposed of a revolving credit line with Banco Popular de Puerto Rico, approved as from December 18, 2015, for USD 10,000 (approximately Ps. 239,200 ) and, through amendment dated October 22, 2018 it received an extension for a maximum term of three years falling due on December 18, 2021, at a Prime or Fed Funds Rate less 0.50% , and whose prepayment can be made at any moment. The resources of this credit line can be used for working capital purposes and for investment projects. As of December 31, 2021 this loan was settled. Aerostar was financially obligated to keep a Debt Coverage Ratio higher than 1.0 x on the measurement date of each quarterly closing. During 2021, it complied with this debt coverage in each measurement period. On December 30, 2020, Aerostar obtained an unsecured revolving credit line with Banco Popular de Puerto Rico for USD 20,000 (approximately Ps. 399,010 ), for a term of three years and the possibility of making prepayments at any moment during the term of the contract, with interest at Prime rate plus 0.50% . The Company will pay 0.15% for unused credit line, which will be calculated on the average amount of unused principal during the year. As of December 31, 2021, the Company did not use the credit line and as of December 31, 2022 this credit line was no longer available. |
Short and long-term documents_
Short and long-term documents: | 12 Months Ended |
Dec. 31, 2022 | |
Short and long-term documents: | |
Short and long-term documents: | Note 11 — Short and long-term documents: As a result of including Aerostar in the consolidation, as from May 31, 2017, the following long-term debt is recorded. To finance a portion of the agreement payment to the Puerto Rico Authority, and certain other costs and expenditures associated with it, Aerostar entered into a Note Purchase Agreement in March 22, 2013 where Aerostar authorized the issue of subordinated bonds and sale of an aggregate principal of Ps.4,471 million pesos (USD350 million) maturing on March 22, 2035 in accordance with the following conditions: Performance 2.39 % Spread credit (bps) +336 Coupon 5.75 % On June 24, 2015, Aerostar signed an agreement for private placement of bonds in the original amount of Ps.737 million pesos (USD50 million), maturing on March 22, 2035, based on the following conditions: Performance 6.75 % In May 2022, Aerostar modified the payment method of the agreement signed for the placement of bonds for USD50 million, which stipulated payments on a semi-annual basis and was modified to a single payment due on March 22, 2035, which did not represent any penalty for the Company and qualified as a renegotiation. In May 2022, Aerostar authorized the private placement of USD200 million (Ps.3,947,522) principal amount of secured bonds guaranteed with a quoted yield of 4.92% maturing on March 22, 2035. The disposition of the resource was in July 2022.Aerostar is financially obligated throughout the term of the bond, to maintain a debt coverage ratio greater than 1.0x with the measurement date of each quarterly closing. As of December 31, 2022, the debt coverage ratio was 1.7x. At December 31, 2021 the integration of the debt is shown as follows: Original debt Interest Credit line Principal amortization Interest Term Fair used in thousand USD in thousand USD in pesos in pesos in pesos Short Long value Bond $ 400,000 $ 11,102 Ps. 7,207,061 Ps. (220,961) Ps. (34,031) Ps. 353,672 Ps. 6,598,397 Ps. 7,619,720 At December 31, 2022 the integration of the debt is shown as follows: Original debt Interest Credit line Principal amortization Interest Term Fair used in thousand USD in thousand USD in pesos in pesos in pesos Short Long value Bond $ 400,000 $ 255 Ps. 6,602,407 Ps. (222,568) Ps. (58,185) Ps. 323,993 Ps. 5,997,661 Ps. 6,039,845 Bond 200,000 2,733 3,947,522 53,222 3,894,300 3,148,566 $ 600,000 $ 2,988 Ps. 10,549,929 Ps. (222,568) Ps. (58,185) Ps. 377,215 Ps. 9,891,961 Ps. 9,188,411 Inputs: 2021: Corporate risk through Yield Spreads to Maturity of comparable bonds of the “Transportations and Logistics” sector at December 31, 2021. Level 2 of fair value hierarchy. 2022: Corporate risk through Yield Spreads to Maturity of comparable bonds of the “Transportations and Logistics” sector at December 31, 2022. Level 2 of fair value hierarchy. Methodology: The following methodology was used to determine fair value in the terms of IFRS 13 the valuation technique used is one recognized in the financial environment (estimated future cash flows discounted at their present value) using market information available at the valuation date. |
Stockholders' equity_
Stockholders' equity: | 12 Months Ended |
Dec. 31, 2022 | |
Stockholders' equity: | |
Stockholders' equity: | Note 12 - Stockholders’ equity: At December 31, 2021 and 2022, the minimum fixed capital with no withdrawal rights is of Ps.1,000 and the variable portion is of Ps.7,766,276, (nominal figure) comprised of 300,000,000 common, nominative Class I shares no par value, wholly subscribed and paid in. The variable portion of capital stock is comprised of Class II common, nominative shares. At December 31, 2021 and 2022, no Class II shares have been issued. Both classes of shares will have the characteristics determined at the Shareholders’ meeting where issuance is approved and they are integrated as shown as follows: Capital stock as of Total shares December 31, Description 2021 2022 2021 2022 “B” Series 277,050,000 277,050,000 Ps. 7,173,079 Ps. 7,173,079 “BB” Series 22,950,000 22,950,000 594,197 594,197 Total 300,000,000 300,000,000 Ps. 7,767,276 Ps. 7,767,276 All ordinary shares confer the same rights and obligations on the holders of each series of shares. Series BB shares have voting shares and other rights, such as the right to elect two members of the Board of Directors, and Series B shareholders are entitled to appoint the remaining members of the Board of Directors. Series BB may not represent more than 15% of the Company’s capital stock. Legal reserve The Company is legally required to allocate at least 5% of its unconsolidated annual net income to a legal reserve fund. This allocation must continue until the reserve is equal to 20% of the issued and outstanding capital stock of the Company. Mexican corporations may only pay dividends on retained earnings after the reserve fund for the year has been set up. Reserve for acquisition of shares The reserve for acquisition of shares represents the reservation authorized by the stockholders for the Company to purchase its own shares subject to certain criteria set forth in the bylaws and the Securities Market Law. At December 31, 2021 and 2022, the reserve for repurchase of shares totals Ps.11,554,572, respectively. Dividends At the Ordinary General Stockholders' Meeting held on April 20, 2022, the Company's Stockholders agreed to delegate to the Board of Directors the proposal to pay an ordinary dividend in cash of Ps.2,709,000, as well as the approval of the payment of an extraordinary dividend of Ps.1,800,000 nominal, both cases they will not give rise to Income Tax (ISR) because they arise from the CUFIN (the “Net Tax Profit Account”) and their payment was on June 1, 2022. At the Ordinary General Stockholders' Meeting held on April 23, 2020, the Company’s Stockholders agreed to delegate the power to decree and pay an ordinary dividend for Ps.2,463,000 (nominal) to the Administrative Board, which will not accrue Income Tax as they arise from the CUFIN (Net Tax Income Account). In case of approval, the dividend would be paid, in accordance with the decree of the Board as from May 11, 2021. On June 29, 2021, the Board of Directors approved the decree of dividends and their payment for October 1, 2021. Dividends are tax free if paid from the CUFIN. Dividends paid in excess of the CUFIN balances are subject to tax equivalent to 42.86%. Tax due is payable by the Company and may be credited against income tax for the year or income tax for the two immediately following fiscal years. Dividends paid from previously taxed earnings are not subject to tax withholding or payment. Dividends paid that come from profits previously taxed by the ISR will not be subject to any withholding or additional tax payment. The Income Tax Law (LISR or ITL) establishes the obligation to maintain the CUFIN with the profits generated until December 31, 2013 and start another CUFIN with the profits generated as of January 1, 2014. At December 31, 2021 and 2022, the companies CUFIN lump sum is Ps.17,347,482 and Ps.20,812,899, respectively, whereas the combined contribution capital account (CUCA, by its initials in Spanish) amounts to Ps.48,586,919 and Ps.53,329,606, respectively. In the event of a capital reduction, any excess of stockholders’ equity over paid-in capital contribution account balances is accorded the same tax treatment as dividends, in accordance with the procedures provided for in the Income Tax Law. Retained earnings Substantially, all consolidated Company earnings were generated by its subsidiaries. Retained earnings can be distributed to the Company’s shareholders to the extent that the subsidiaries have distributed earnings to the Company. |
Income tax incurred and deferre
Income tax incurred and deferred: | 12 Months Ended |
Dec. 31, 2022 | |
Income tax incurred and deferred: | |
Income tax incurred and deferred: | Note 13 - Income tax incurred and deferred: The Company does not consolidate its results for tax purposes. a. Income Tax (IT) Mexico: In 2020, 2021 and 2022, the Company determined tax profits in its subsidiaries in the amounts of Ps.2,163,740, Ps.6,045,955 and Ps.9,997,669, respectively. In 2020, 2021 and 2022, the tax profits were partially offset with the amortization of tax losses in the amounts of Ps.3,196, Ps.192,040 and Ps.127,046, respectively. The subsidiaries that at December 31, 2020, 2021 and 2022, have not assessed IT due to the tax loss carryforwards, are Cozumel, Minatitlán and Tapachula Airports. Taxable income differs from the book income due to temporary and permanent differences arising from the different bases for the recognition of the effects of inflation for tax purposes and from the permanent effects of items affecting only the book or tax results. The ITL establishes the applicable income tax rate of 30% on taxable income. The Company has performed the evaluation of the Preferential Tax Regimes and has determined at December 31, 2021 and 2022, it is not applicable because it does carry out a business activity, in the case of the investment in the airport of Puerto Rico, and that passive income does not represent more than 20% of its total income. Aerostar: In 2020 the Company determined tax losses for Ps.660,404 and determined in 2021 and 2022 tax profit for Ps.88,577 and Ps.370,213, respectively, which partially compensated by amortization of tax losses for Ps.79,720 and Ps.333,191, respectively. Aerostar maintains an agreement with the Department of the Treasury of Puerto Rico in which its operations are subject to income taxes of Puerto Rico of 10% under the provisions of Section 12 (a) of the Public Private Partnership Law (Law) enacted in June 2009. Airplan: The Company determined taxable income (liquid income) in accordance with the tax law of Colombia for the fiscal year, 2020, 2021 and 2022 of Ps.9,133, Ps.241,490 and Ps.1,078,391, respectively. The Company is subject to income taxes in Colombia of 32% in 2020, 31% 2021 and 35% in 2022. The company determined an income tax of Ps.2,916 in 2020, Ps.74,862 in 2021 and Ps.377,437 in 2022, respectively. According to Article 188 of the Colombian Tax Code, for income tax purposes, it is assumed that the taxpayer's net income is not less than 3.5% of his net worth, on the last day of the immediately preceding taxable year. The percentage of presumptive taxable income referred to in this article will be reduced to 0.5% in taxable year 2020; and reduced to 0%, as of taxable year 2021. Tax Reform Law No. 1943, dated December 28, 2018, sets forth the following rates applicable to corporate taxable income: 32% for fiscal year 2020, and 31% for fiscal year 2021. The Tax Reform Law 2155 of September 14, 2021 article 7 determined that as of the year 2022 it will be 35% on the net taxable income. The IT provision at December 31, 2020, 2021 and 2022 is as follows: December 31, 2020 2021 2022 Mexico Current IT Ps. 631,471 Ps. 1,749,031 Ps. 2,961,187 Deferred IT 117,924 (128,254) (169,080) IT provision Mexico Ps. 749,395 Ps. 1,620,777 Ps. 2,792,107 Aerostar Current Income Tax Ps. (16) Ps. 886 Ps. 3,703 Deferred Income Tax 42,546 37,979 38,160 IT provision Aerostar Ps. 42,530 Ps. 38,865 Ps. 41,863 Airplan Current IT Ps. 2,916 Ps. 74,862 Ps. 377,437 Deferred IT (65,686) (5,997) 227,402 IT provision Airplan Ps. (62,770) Ps. 68,865 Ps. 604,839 Total IT provision Ps. 729,155 Ps. 1,728,507 Ps. 3,438,809 The reconciliation between the statutory and effective income tax rates is shown as follows: December 31, 2020 2021 2022 Consolidated income before provision for IT Ps. 2,855,692 Ps. 8,126,035 Ps. 14,084,733 Plus (less): Net (loss) income before taxes of Airplan and Aerostar (65,672) (1,418,186) (3,183,555) Net (loss) income before taxes of subsidiaries in Mexico not subject to IT 4,337 (170,247) (140,921) Income before provisions for income taxes 2,794,357 6,537,602 10,760,257 Statutory IT rate 30 % 30 % 30 % IT that would result from applying the IT rate to book profit before income taxes 838,307 1,961,281 3,228,077 Non-deductible items and other permanent differences 10,496 7,853 14,133 Annual adjustment for tax inflation (18,958) (33,603) (82,517) Accounting disconnect inflation (80,450) (314,754) (367,587) Effect by difference in rate of IT Aerostar 42,530 38,865 41,863 Effect by difference in rate of IT Airplan (62,770) 68,865 604,839 IT provision Ps. 729,155 Ps. 1,728,507 Ps. 3,438,809 Effective IT rate 26 % 26 % 32 % The following are the principal temporary differences with respect to deferred tax: Year ended December 31, 2021 2022 Deferred income tax asset: Temporary liabilities Ps. 57,201 Ps. 72,439 Fair value of long-term debt (Bank loan) 149,120 84,774 Allowance for doubtful accounts 57,962 60,775 264,283 217,988 Deferred income tax payable: Fixed and intangible assets (*) (3,111,403) (2,898,475) Temporary assets (197,104) (291,829) Amortization of expenses (408) (206) (3,308,915) (3,190,510) Deferred income tax liability - Net Ps. (3,044,632) Ps. (2,972,522) (*) The net movements of the deferred tax asset and liability for the year are as follows: Impairment provision Foreign of loan Concession Currency portfolio Assets Conversion Others Total Balances as of January 1, 2021 Ps. (66,609) Ps. 3,101,892 Ps. 96,740 Ps. 33,122 Ps. 3,165,145 Conversion revaluation effect Airplan and Aerostar (61,018) 36,777 (24,241) Consolidated income statement: Airplan 11,390 28,642 (1,089) (44,940) (5,997) Aerostar 39,709 (1,730) 37,979 México (2,743) (91,743) (33,768) (128,254) 8,647 (23,392) (2,819) (78,708) (96,272) Balances as of December 31, 2021 Ps. (57,962) Ps. 3,078,500 Ps. 32,903 Ps. (8,809) Ps. 3,044,632 Conversion revaluation effect Airplan and Aerostar (117,978) (50,614) (168,592) Consolidated income statement: Airplan (1,123) 9,298 2,648 216,579 227,402 Aerostar 38,982 (822) 38,160 México (1,690) (145,056) (22,334) (169,080) (2,813) (96,776) 1,826 194,245 96,482 Balances as of December 31, 2022 Ps. (60,775) Ps. 2,981,724 Ps. (83,249) Ps. 134,822 Ps. 2,972,522 b. Return of Asset Tax (AT) in accordance with the Law on Flat Rate Business Tax (Flat Tax Law or LIETU) in Mexico. AT in excess of IT effectively paid until December 31, 2007, (date on which AT was repealed) is subject to refund in accordance with the procedure established in the Flat Tax Law in the following ten periods up to 10% of the total AT paid and not yet recovered, without it exceeding the difference between the IT paid in the period and the AT paid in the previous three years, whichever is lower, in accordance with the Flat Tax Law, when IT incurred is higher than AT in any of those years, and it is subject to restatement through the application of “National Consumer Price Index” Mexican factors. The last year that the AT can be recovered is 2017. During fiscal year 2022 the Company did not obtain recovery and on 2021, the Company obtained the recovery of AT for Ps.416, with recognition in the results as revenue. Recoverable taxes At December 31, 2021 and 2022, the tax credits are as of Ps.142,970 and Ps.181,619, respectively. Aerostar Tax loss Carry forwards: Aerostar had cumulative tax loss carry forwards for which deferred tax has not been recognized and whose right to be amortized against future taxable income expires as shown below: USD thousand Year of Year of loss Amount expiration 2013 Ps. 22,832 2023 2014 24,189 2024 2015 28,532 2025 2016 27,736 2026 2017 22,247 2027 2018 10,600 2028 2020 30,725 2030 Total Ps. 166,861 Temporary differences not recognized Temporary difference related to investments in subsidiaries for which no liabilities have been recognized for deferred income tax shown as follows: December 31, 2021 2022 Undistributed utilities Ps. 4,903,164 Ps. 4,911,412 Tax rate 30 % 30 % Deferred income tax liabilities unrecognized with the previous temporary differences Ps. 1,470,949 Ps. 1,473,424 This tax could be subject to the application of tax treaties existing in the countries of origin. |
Balances and transactions with
Balances and transactions with related parties: | 12 Months Ended |
Dec. 31, 2022 | |
Balances and transactions with related parties: | |
Balances and transactions with related parties: | Note 14 - Balances and transactions with related parties: 14.1) Balances payable At December 31, 2021 and 2022, respectively, the balances payable to related parties shown in the consolidated statement of financial position are comprised as follows: December 31, 2021 2022 Accounts payable and accumulated expenses (Note 9):(*) Inversiones y Técnicas Aeroportuarias, S. A. de C. V. (Shareholder/technical assistance) Ps. 127,446 Ps. 169,696 Lava Tap de Chiapas, S. A. de C. V. (Key management personnel/services) 455 Ps. 127,901 Ps. 169,696 (*) 14.2) Transactions with related parties At December 31, 2020, 2021 and 2022, the transactions shown as follows were held with related parties, which were set at the same prices and conditions as those that would have been used in comparable operations by third parties. December 31, 2020 2021 2022 Commercial income: Autobuses de Oriente, S. A. de C. V. (Stockholder) Ps. 7,968 Ps. 11,800 Ps. 15,899 Autobuses Golfo Pacífico, S. A. de C. V. (Stockholder) 4,862 6,468 7,616 Coordinados de México de Oriente, S. A. de C. V. (Stockholder) 164 162 189 Expenses: Technical assistance (Note 14.4) Ps. (175,615) Ps. (391,698) Ps. (643,891) Related parties: Administrative services Leasing Ps. (6,061) Ps. (5,863) Ps. (4,610) Cleaning services (11,848) (12,307) 14.3) Compensation of key personnel Key personnel include directors, members of the Steering Committee, and Committees. In the years ended on December 31, 2020, 2021 and 2022, the Company granted the following benefits to the key management personnel, the Board of Directors and the different Company Committees: December 31, 2020 2021 2022 Short term salaries and other benefits paid to key personnel (Note 17.17) Ps. 137,272 Ps. 122,271 Ps. 166,922 Fees paid to the Board of Directors and Committees 8,571 8,144 8,671 14.4) Technical assistance agreement With regard to the sale of series “BB” shares to ITA held in 1998, the Company signed a technical assistance agreement with ITA, whereby the latter company and its stockholders agreed to provide management and consulting services and transfer knowledge and experience in the industry and technology to the Company in exchange for compensation. The agreement is for an initial term of 15 years and renews automatically for subsequent five year periods, unless one of the parts issues the other a cancellation notice within a determined term prior to the programmed expiration date. The Company can only exercise its termination right through a resolution of the shareholders. ITA began to provide its services under said contract on April 19, 1999. In accordance with the contract, the Company agreed to pay an annual compensation equivalent to the higher of a fixed amount or 5% of the consolidated income of the Company before deducting the compensation for technical assistance and before the comprehensive financial result, IT, depreciation and amortization, determined in accordance with financial reporting standards applicable in Mexico. Beginning in 2003, the minimum fixed amount is of USD2 million (approximately Ps.37.7 million). The minimum fixed amount will increase annually by the inflation rate of the United States plus the added value tax over the amount of the payment. The Company entered into an amendment agreement for technical assistance and transfer of knowledge, which establishes that the compensation will be paid on a quarterly basis beginning in January 1, 2008, and that such payments are to be deducted from the annual compensation. At December 31, 2020, 2021 and 2022, the expenses for technical assistance amounted to Ps.175,615, Ps.391,698 and Ps.643,891, respectively which are recorded in the consolidated comprehensive income statement within the aeronautical and non-aeronautical service cost line. ITA also has the right to refund the expenses incurred during the provision of the services specified in the agreement. The ITA series “BB” shares were put in a trust in order to ensure compliance with the technical assistance agreement, among other things. |
Commitments and contingencies_
Commitments and contingencies: | 12 Months Ended |
Dec. 31, 2022 | |
Commitments and contingencies: | |
Commitments and contingencies: | Note 15 - Commitments and contingencies: Commitments a. The Company began leasing office space on May 21, 2015, under a lease agreement. This agreement includes an available extension of 60 months. The monthly rent due is USD 30 (Ps. 582 approximately). The total minimum future payments derived from the non-cancellable lease agreement that shall be covered in the future are as follows: Up to one year Ps. 7,472 Between one and three years 9,963 Total Ps. 17,435 As of December 31, 2021 and 2022, the amortization per right-of-use assets within the aeronautical and non-aeronautical service cost in the statement of income, was approximately Ps.6,467 and Ps.5,457, respectively. (See Note 17.8.). b. On June 22, 2018, the Company received SCT approval for the MDP for the five-year period from 2019 to 2023 in which the Company committed to carry out improvements. On August 19, 2020, the Federal Civil Aviation Agency approved the Company's request for rescheduling (the deferral of) certain investments corresponding to 2020 for a total amount of Ps.2,292,355, to be fulfilled in 2021, due to contingencies due to COVID-19, which affected the conditions of the production and construction industry, interrupting the continuation of works and signing of new contracts that are indicated in the MDP 2019-2033. On March 31, 2021, the AFAC authorized the reduction and modification of the Capital investments foreseen in the Master Development Plan (MDP), for the period of 2019-2023, regarding the review of maximum rates, without any penalty. As of December 31, 2022, investment commitments for that MDP are as of Ps.572,716 in thousands pesos adjusted at December 31, 2022 based on the Construction Price Index (IPCO) in the terms of the MDP. c. Pursuant to the terms for the purchase of the land in Huatulco that occurred in October 2008, the Company had the obligation to build 450 hotel rooms As of December 31, 2020, there was an indefinite extension for this commitment issued by the National Fund for the Promotion of Tourism (FONATUR). During the second quarter of 2021, FONATUR paid the Company Ps. 286,283 for the repurchase of the land in Huatulco, an amount that was the price that the Company initially paid for the land. As of December 31, 2021, there are no longer any obligations to be fulfilled by the Company in relation to this matter. d. As part of the Agreement, Aerostar has committed to fund and complete certain capital and repair projects with respect to the LMM Airport Facilities. The Company has no time restrictions to complete these projects, except that they must be made at any time during the term of the Agreement. As these projects are carried out, repairs will be recorded as expenses incurred or capitalized and depreciated according to their nature; consistent with the Company's accounting policies. Capital projects will be capitalized as part of an intangible concession improvement asset and will be amortized over their useful lives or the remaining life of the concession contract, whichever is less. Some commitments were excluded from the liability for initial obligations assumed due to factors of uncertainty, the variability of future costs and the extended period of time in which commitments can be fulfilled. As of December 31, 2021 and 2022, Aerostar fulfilled the agreed commitments. Contingencies As of December 31, 2021 and 2022, the Company has confirmed that the results of its lawsuits cannot be accurately predicted as their due processes are currently ongoing and there are not enough elements to determine whether they could largely affect the Company’s financial position in the case of an adverse ruling. e. The Company’s transactions are subject to Mexican federal and state laws as well as Puerto Rico and Colombian law due to its subsidiaries outside of Mexico. f. At the time that the Company was carrying out the competitive bidding process (1998) for the sale of shares of the Airport Groups, the SCT established and communicated that concessionaires could amortize for tax purposes the value of the concession up to 15% a year. In February 2012, the SCT estimated an amount due payable by Cancún in the amount of Ps. 865 million pesos against the ruling in question, because it considered that the determination of the 15% amortization was not valid in 2006 and 2007. The Company disagreed with the decision and filed an appeal to overturn this determination. However, in order to adhere to the amnesty program set forth in Transitory Article Three of the new Income Law of 2013, the Company partially desisted from the appeal as it relates to the income tax obligation, but not in regards to the determination of the additional distribution related to employees’ statutory profit sharing, which the Company continues to appeal. The risk is that if a judge does not rule in favor of Cancún the amount payable would be Ps. 116,000 . g. There are currently a number of labor suits in progress against the Company, mainly in relation to involuntary termination. Any sentences that might be handed down not favoring the interest of the Company do not represent significant amounts. The Company is in legal proceedings at the date of this report and a resolution has not been issued yet. h. On August 21, 2019, the Board of Commissioners of the COFECE (Federal Economic Competition Commission) notified Aeropuerto de Cancún, S. A. de C. V. of the resolution issued on July 25, 2019, which provides for the following: (I) administrative liability for having exercised the monopolistic practices described in article 56, section V of the Mexican Federal Economic Competition Law (“LFCE”) (refusal of access); (ii) the imposition of a fine to the Company of Ps. 73 million. On the understanding that there is sufficient grounds for defense, the Company has contested the administrative sanction imposed by the COFECE by filing amparo proceedings. The Company considers that the amparo proceedings will not be resolved in a term lower than 2 years from the date of filing, and, therefore, it is under no obligation to pay the fine before the end of such proceedings. i. On March 17, 2014, the Port Authority of Puerto Rico filed a lawsuit against Aerostar and two fuel sellers at the LMM Airport claiming to be entitled to a fee charged to the fuel sellers of the airport and not to Aerostar. On November 7, 2018 the court ruled in favor of Aerostar and declared that all revenues from the fuel sales fee were to be assigned to Aerostar, but authorized the Ports Authority to charge two cents of the fee per gallon charged to the fuel sellers. The parties appealed the judgement and, on July 31, 2020, the Court of Appeals ruled in favor of Aerostar, determining, among other things, that Aerostar was the only entity entitled to collect and withhold the charge for each gallon of jet fuel, which is dispatched at the LMM airport. On August 31, 2020, the Ports Authority appealed before the Supreme Court. On June 30, 2022, the Supreme Court of Puerto Rico issued a ruling in favor of Aerostar determining, among other things, that Aerostar is the only entity with the right to collect and withhold the fee charge for each gallon of fuel that is dispatched at the LMM Airport. On December 22, 2022, Aerostar filed a joint motion with the Ports Authority to collect consigned funds held by the Supreme Court of Puerto Rico, which, through a declaratory judgment, granted Aerostar the right to collect a total amount of USD 15,641 (approximately Ps. 300,384 ) deposited by the oil sellers to the Accounts Unit of the Honorable Court. |
Basis for preparation_
Basis for preparation: | 12 Months Ended |
Dec. 31, 2022 | |
Basis for preparation: | |
Basis for preparation: | Note 16 - Basis for preparation: The accompanying consolidated financial statements at December 31, 2021 and 2022 and for the years ended 2020, 2021 and 2022 have been prepared in accordance with the International Financial Reporting Standards (IFRS) as issued by the International Accounting Standard Board (IASB ) and its intrepretations issued by the IFRS Interpretations Commitee (IFRS IC). 16.1) Basis of measurement The consolidated financial statements have been prepared on the historical cost basis. Except for certain financial instruments measured at amortized cost or at their fair value as explained in the accounting policies described below. The consolidated financial statements have been prepared under the going concern basis. 16.2) Use of estimates and judgments The preparation of consolidated financial statements requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, revenues and expenses. The areas involving a higher degree of judgment or complexity, or the areas where assumptions and estimates are significant to the consolidated financial statements, are described in Note 19. Critical estimates and assumptions are reviewed regularly. Adjustments to the accounting estimates are recognized in the period in which the estimate is reviewed and in any future period affected. |
Summary of the main accounting
Summary of the main accounting policies: | 12 Months Ended |
Dec. 31, 2022 | |
Summary of the main accounting policies: | |
Summary of the main accounting policies: | Note 17 - Summary of the main accounting policies: 17.1) New standards and amendments Some of the modifications and improvements that came into effect as of January 1, 2022 were: ● Amendments to IFRS 3 - Minor amendments were made to IFRS 3 Business Combinations to update references to Conceptual framework for financial information and add an exception for the recognition of liabilities and contingent liabilities within the scope of IAS 37 Provisions, contingent liabilities and contingent assets and to Interpretation 21 Levies. Effective as of January 1, 2022. ● Amendments to IAS 37 Onerous contracts: cost of fulfilling a contract. Effective as of January 1, 2022. ● Annual improvements to IFRS 2018–2020 standards - The following improvements were completed in May 2020 and were effective as of January 1, 2022: a) IFRS 9 Financial Instruments: clarifies what commissions and fees must be included in the 10% test for the de recognition of financial liabilities. b) IFRS 16 Leases: modification of illustrative example 13 to eliminate the illustration of the lessor's payments in relation to lease improvements, to eliminate any confusion on the treatment of lease incentives. These modifications and improvements did not have a significant impact for the Company. The Company considered in the preparation of the consolidated financial statements the agenda decision issued by the IFRS IC "Demand deposits with restrictions on use derived from a contract with a third party (IAS 7)" in April 2022. The modifications and improvements to the standards that have been issued after, and are not effective for the annual periods ending on December 31, 2022 are the following: ● Amendments to IAS 1 - Non-current liabilities with covenant. Clarifies how the conditions that an entity must meet within twelve months after the reporting period affect the classification of the liability. Effective as of January 1, 2024. ● Amendments to IAS 1 and Practice Statement No.2 of the IFRS - Disclosure of Accounting Policies. Effective as of January 1, 2023. ● Amendments to IAS 8 - Definition of accounting estimates. Effective as of January 1, 2023. ● Amendments to IAS 12 - Deferred Tax related to assets and liabilities arising from a single transaction. Effective as of January 1, 2023. These modifications are not expected to have a significant impact on the Company. 17.2) Consolidation and equity method The consolidated subsidiaries of the Company, for which it has a shareholding as of December 31, 2021 and 2022, are shown as follows: Shareholding percentage (%) Main activity Aeropuerto de Cancún, S. A. de C. V. 100 % Airport services Aeropuerto de Cozumel, S. A. de C. V. 100 % Airport services Aeropuerto de Mérida, S. A. de C. V. 100 % Airport services Aeropuerto de Huatulco, S. A. de C. V. 100 % Airport services Aeropuerto de Oaxaca, S. A. de C. V. 100 % Airport services Aeropuerto de Veracruz, S. A. de C. V. 100 % Airport services Aeropuerto de Villahermosa, S. A. de C. V. 100 % Airport services Aeropuerto de Tapachula, S. A. de C. V. 100 % Airport services Aeropuerto de Minatitlán, S. A. de C. V. 100 % Airport services Cancun Airport Services, S. A. de C. V. (*) 100 % Airport services Aerostar Airport Holdings, LLC 60 % Airport services Sociedad Operadora de Aeropuertos Centro Norte, S.A. 100 % Airport services RH Asur, S. A. de C. V. 100 % Administrative services Servicios Aeroportuarios del Sureste, S. A. de C. V. 100 % Administrative services Asur FBO, S. A. de C. V. (*) 100 % Administrative services Caribbean Logistics, S. A. de C. V. (*) 100 % Cargo services Cargo RF, S. A. de C. V. (*) 100 % Cargo services (*) Aerostar information Aerostar reports its financial information in IFRS, for purposes of consolidating in the Company and in USD The exchange rate used at 2021 and 2022 year end was Ps.20.47 and Ps.19.47 Mexican Pesos per Dollar, respectively. Relevant information about Aerostar and its significant non-controlling interest As of December 31, 2020, 2021 and 2022, the condensed financial information of Aerostar, where there is a significant non-controlling interest, is presented as follows: December, 31 2020 2021 2022 Condensed statement of financial position Cash and cash equivalents Ps. 804,634 Ps. 2,295,087 Ps. 2,334,403 Restricted cash 5,055 123,081 1,272,106 Other current assets 566,031 183,284 528,297 Total current assets 1,375,720 2,601,452 4,134,806 Financial liabilities: Current liabilities (606,433) (804,548) (1,184,023) Working capital 769,287 1,796,904 2,950,783 Land, furniture and equipment 151,971 126,494 115,798 Intangible assets, airport concessions - Net 13,535,370 13,656,912 12,920,453 Other long term assets 32,578 64,442 90,777 Long term debt (7,171,278) (6,952,068) (9,891,961) Accounts payable to the Company (104,065) Other long term liabilities (19,864) (19,378) (18,265) Deferred income tax - Net (448,829) (518,578) (547,480) Shareholders’ equity Ps. 6,745,170 Ps. 8,154,728 Ps. 5,620,105 Year ended December, 31 2020 2021 2022 Condensed statements of comprehensive income Revenue Ps. 2,902,238 Ps. 3,652,835 Ps. 4,110,028 Operating cost and expenses (1,956,081) (1,939,555) (2,146,680) Other income 158,906 346,232 Comprehensive financial cost - Net (495,443) (453,326) (459,471) Net income tax (60,684) (57,529) (41,863) Income tax provision 548,936 1,202,425 1,808,246 Foreign currency translation (301,695) (207,132) (95,881) Total comprehensive income Ps. 247,241 Ps. 995,293 Ps. 1,712,365 On October 20, 2022, Aerostar's Board of Directors approved a reimbursement of contributed capital for USD165,625 (Ps.2,113,113), and a dividend payment for USD34,375 (Ps.690,833), corresponding to profits for the year 2022, of which 60% corresponds to the Company and 40% to the Avialliance partner. The Company did not change its proportional shareholding in Aerostar, maintaining control with 60% of the capital stock. These payments were not considered a partial disposal of the Company’s interest and the cumulative effects of changes in foreign exchange rates (CTA) were not reclassified to comprehensive income. As regards the non-controlling interest in Aerostar’s subsidiary, there are no significant restrictions on the possibility of gaining access to files or using them for the payment of liabilities. Airplan information Airplan reports its financial information in IFRS for purposes of consolidating in the Company and in Colombian pesos. The exchange rate used at 2021 and 2022 year end was Ps.198.28 and Ps.248.48 Colombian Peso per Mexican Peso, respectively. a. Subsidiaries Subsidiaries are all entities over which the Company has control. The Company controls an entity when the Company is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. Subsidiaries are fully consolidated from the date on which control is transferred to the Company. They are deconsolidated from the date that control ceases. Intercompany transactions, balances, revenues and expenses due to transactions between the group companies were eliminated. The non-realized results were also eliminated. The subsidiaries’ accounting policies are consistent with the policies adopted by the Company. The Company uses the purchase method to recognize business acquisitions. The consideration for the acquisition of a subsidiary is determined based on the fair value of the net assets transferred, the liabilities assumed and the capital issued by the Company. The Company defines a business combination as a transaction in which it obtains control of a business, through which it has the power to govern and manage the relevant activities of the of assets and liabilities of said business with the purpose of providing return in the form of dividends, lower costs or other economic benefits directly to investors. The consideration transferred in the acquisition of a subsidiary is the fair value of the assets transferred, the liabilities incurred and the equity interests issued by the Company. The consideration transferred includes the fair value of any asset or liability that results from a contingent consideration agreement. The identifiable assets acquired, the liabilities and contingent liabilities assumed in a business combination are initially measured at their fair value on the date of acquisition. The Company recognizes any non-controlling interest in the acquired entity based on the proportional part of the non-controlling interest in the net identifiable assets of the acquired entity. Costs related to the acquisition are recognized as expenses in the consolidated statement of income as incurred. Goodwill is initially measured as the excess of the consideration paid and the fair value of the non-controlling interest in the acquired subsidiary over the fair value of the identifiable net assets and the liabilities acquired. If the consideration transferred is less than the fair value of the net assets of the acquired subsidiary in the case of a purchase at a bargain price, the difference is recognized directly in the consolidated statement of income. If the business combination is reached in stages, the book value at the date of acquisition of the participation previously held by the Company in the acquired entity, is remeasured at its fair value at the acquisition date. Any loss or gain resulting from such remeasurement is recognized in the results of the year. b. Changes in the interests of subsidiaries without loss of control Transactions with non-controlling interests that do not result in loss of control are accounted for as equity transactions, which are transactions with shareholders in their capacity as owners. The difference between the fair value of the consideration paid and the interest acquired in the carrying value of the net assets of the subsidiary is recorded in stockholders’ equity. Gains or losses on the sale of non-controlling interests are also recorded in stockholders’ equity. c. Disposal of subsidiaries When the Company loses control over one entity, any retained interest in the entity is measured at fair value, recognizing the effect in profit or losses. Subsequently, the fair value is the initial carrying amount for the purpose of determining the retained interest as an associate, joint venture or financial asset, as appropriate. Additionally, the amounts previously recognized in Other Comprehensive Income (OCI) relating to those entities are canceled as though the Company had directly disposed of the related assets or liabilities. This means that the amounts previously recognized in OCI are reclassified to profit or losses of the period. d. Acquisition in stages The additional acquisition in joint ventures accounted under the equity method is considered a business combination conducted in stages, which means that the fair value of interest previously acquired was also revalued. e. Joint Arrangements Under IFRS 11 investments in joint arrangements are classified as either a joint operation or a joint venture depending on the contractual rights and obligations of each investor, rather than the legal structure of the joint arrangement. f. Joint ventures Interest in joint ventures is accounted for under the equity method, after being initially recognized at cost in the consolidated statement of financial position. On February 20, 2020, our subsidiary Aeropuerto de Cancún entered into a contractual agreement with Aviation Investments, LLC, to set up a joint venture through a separate legal entity called Airport Development Group, LLC, with each Company holding an interest of 50%. Initial investment amounted to USD500 (Ps.10,556). According to the agreement, decisions on the relevant activities of the entity require unanimous consent of both parties. The Company assessed the nature of the transaction and determined it was a joint venture. Joint ventures are recognized through the equity method. g. Equity method Under the equity method, investments are initially recognized at cost and are subsequently adjusted to recognize equity in post-acquisition results, as well as movements in other comprehensive income. Dividends received or receivable from joint ventures are recognized as a reduction in the amount of the investment. When the Company's share in the losses of a joint venture equals or exceeds its share in the joint venture (which includes any long-term interest that is in substance part of the Company's net investment in the joint venture), the Company does not recognize additional losses, unless it has incurred obligations or made payments on behalf of or on behalf of the joint venture. Unrealized income on transactions between Group Companies and their joint ventures are eliminated up to the amount of the Group's interest in the joint venture. Unrealized losses are also eliminated unless the transaction provides some evidence of impairment of the transferred asset. The accounting policies of the investments accounted for under the equity method have changed when necessary to ensure consistency with the policies adopted by the Company. h. Capital reduction in foreign subsidiaries The capital reductions without changing the parent's proportional percentage interest holding, is not considered a partial disposition. Since the Group maintains the same ownership percentage and continues to control the subsidiary abroad, the cumulative effects of the translation effect are not reclassified to the statement of comprehensive income. 17.3) Conversion of foreign currencies Functional currency and reporting currency Items included in the consolidated financial statements of each of the companies of the Company are measured in the currency of the primary economic environment in which the entity operates, i.e., its “functional currency” which is also the reporting currency. The consolidated financial statements are presented in thousands of Mexican pesos, which is the Company’s reporting currency. 17.3.1) Consolidation of subsidiaries with a functional currency different from the reporting currency The results and financial position of Aerostar and Airplan (none of which handle a currency that corresponds to a hyperinflationary economy) expressed in a functional currency other than the reporting currency are converted to the reporting currency as follows: i. The assets and liabilities recognized in the consolidated statement of financial position are translated at the exchange rate on the balance sheet date. ii. The stockholders’ equity in the consolidated statement of financial position is translated using the historical exchange rates. iii. Income and expenses recognized in the consolidated statement of income are translated at the average exchange rate for each year (unless that average is not a reasonable approximation of the effect of translating the results derived from the exchange rates prevailing at transaction dates, in which case the Company uses the respective rates). iv. The resulting exchange differences are recognized within OCI. Goodwill and fair value adjustments that arise on the date of acquisition of a foreign operation to measure them at fair value are recognized as assets and liabilities of the foreign entity and are converted at the closing exchange rate. 17.3.2) Transactions in foreign currency and results from exchange fluctuations Operations carried out in foreign currency are recorded in the functional currency applying the exchange rates in effect at the transaction date or the exchange rate at the date of the valuation when the items are revalued. Exchange differences arising from fluctuations in the exchange rates between the transactions and settlement dates, or the consolidated statement of financial position date, are recognized in the consolidated comprehensive income statement. 17.4) Cash and cash equivalents Cash and cash equivalents include cash, bank deposits and other highly liquid investments with low risk of changes in value and maturing within three months or earlier. As of December 31, 2021 and 2022, cash and cash equivalents consisted primarily of peso and dollar denominated bank deposits and peso denominated investment bonds issued by the Mexican Federal Government. 17.5) Fiduciary rights In accordance with the requirements of the concession agreement, Airplan was required to constitute a trust, with Fiduciaria Bancolombia as trustee, to administer the concession’s resources and to oversee the payment of the concession’s obligations by the concessionaire. Airplan transfers all of the gross income it receives and all of the debt and capital resources it obtains from the administrations of the concession. 17.6) Restricted cash Restricted cash is presented as current if it is expected to be used within 12 months from the reporting date. Any funds restricted beyond 12 months are recorded as non-current. Restricted cash includes cash that is restricted in access and use. The nature of the restrictions includes pre-use approvals and restrictions imposed by bond placement contracts and federal agency funds related to capital expenditures. Aerostar maintains cash restricted by a requirement of the debt instruments in the amount of Ps.1,175,622 as of December 31, 2022 and has restricted cash for PFC in the amount of Ps.96,485 and Ps.123,081 as of December 31, 2022 and 2021, respectively. Mexico maintains restricted cash of Ps.148,621 as of December 31, 2022 held as part of the fulfillment of its infrastructure investment commitments described in the MDP. (See Note 5.1.) Restricted cash is presented in the statement of cash flows within financing activities in relation to the reserves to which it is obligated in accordance with the bond placement agreements and in investment activities, which are related to the investment in airport infrastructure. (See Note 5.1.) 17.7) Financial assets a. Classification. - the Company classifies its financial assets into the following measurement categories: a) financial assets measured at amortized cost; and b) financial assets subsequently measured at fair value (either through other comprehensive income or through profit or loss). At present, the Company does not hold any financial assets. This classification depends on the business model of the Company to manage its financial instruments and the terms of the instrument's contractual cash flows. The Company reclassifies financial assets when, and only when, it changes its business model for the management of those assets. The Company’s financial assets are measured at amortized cost, since contractual terms comply with the SPPI (solely payment of principal and interest) requirement, and the Company’s business model is achieved by collecting cash flows. b. Measurement. - At initial recognition, financial assets at amortized cost are measured at fair value plus transaction costs that are directly attributable to their acquisition. Transaction costs of financial assets measured at fair value (through profit or loss or through other comprehensive income) are recognized in profit or loss as incurred. Gains and losses on assets measured at fair value are recorded in profit or loss or in other comprehensive income. Financial assets with embedded derivatives are considered as a whole if it is determined that the cash flows correspond exclusively to the payment of principal and interest. Accounts receivable are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. They are included as current assets, except for maturities greater than 12 months following the date of the Statement of Financial Position. These are classified as non-current assets. Loans and accounts receivable are initially recognized at fair value plus directly attributable transaction costs, and subsequently measured at amortized cost. c. Impairment. - Impairment losses are presented as net impairment losses within the operating result. Subsequent recoveries of previously canceled amounts are credited against the same line. For accounts receivable, the Company applies the simplified approach allowed by IFRS 9, which requires that the expected losses over the life of the instrument be recognized from the initial recognition of accounts receivable. (See Note 6.) 17.8) Leasing 17.8.1) As lessor The leasing of terminal space made by the Company in its capacity as lessor at the terminals is documented by contracts with either fixed income or monthly fees based on the higher amount of a minimum monthly fee or a percentage of the lessee’s monthly revenue. Since the leased assets are part of the concession assets and thus do not belong to the Company, there is no transfer of the risks and rewards of ownership and therefore are classified as operating leases. Revenues from operating leases are recognized as non-aeronautical revenues on a straight line basis over the lease term. 17.8.2) As lessee Leases are recognized as right-of-use assets and lease liabilities on the date the leased assets are available for use by the Company. Right-of-use assets and liabilities arising from a lease under IFRS 16 “Leases” are initially measured at the present value. Lease liabilities include the present value, net of the following lease payments: i) fixed lease payments, less any lease incentive receivable; ii) variable lease payments that depend on an index or a rate, initially measured using the index or rate at the commencement date; and iii) the amounts that the Company expects to pay under residual value guarantees. Lease payments must be discounted at the rate implicit in the lease. In the case of the Company, the interest rate cannot be readily determined. Thus, the lessee’s incremental borrowing rate is used, which is the rate of interest that a lessee would have to pay to borrow over a similar term, and with a similar security, the funds necessary to obtain an asset of a similar value to the right-of-use asset in a similar economic environment. To determine the borrowing incremental rate, the Company: ● Uses, whenever possible, recent third-party financing received by lessee as a starting point, adjusted to reflect changes in financing conditions since third-party financing was received; ● Uses other approaches, starting with a risk-free rate, adjusted for the credit risk of leases held that have not obtained recent third-party financing; and ● Applies specific adjustments to the lease, e.g. term, country, currency and guarantees. Lease payments are distributed among principal and interest expense. Interest expense is charged to profit or loss over the lease term to produce a constant periodic interest rate on the remaining liability for each period. Right-of-use assets are measured: ● Lease initial measurement amount. ● Any lease payment made on or before the commencement date less any lease incentive received. ● Any initial direct cost. Right-of-use assets are generally depreciated on a straight-line basis over the shorter period of the asset useful life and the lease term, and the depreciation expense is recognized in the Statement of profit or loss. Payments of short-term leases and leases of low-price assets are expensed by applying the straight-line method. Short-term leases are leases with a term of 12 months or less. To determine the lease term, the Company considers all facts and circumstances creating an economic incentive to exercise an extension option. The reasonable certainty assessment is only reviewed when there is a significant event or a significant change in circumstances that affect such assessment and that are within lessee’s control. At December 31, 2022, there are no contracts regarding which there is a reasonable certainty to extend lease terms. 17.9) Land, furniture and equipment Furniture and equipment are recorded at cost less accumulated depreciation and impairment loss. The cost includes expenses directly attributable to the acquisition of those assets and all costs associated with placing the assets in the location and in the condition necessary for them to operate as intended by management. Land is recorded at cost and it is not depreciated. Depreciation of other items of plant and equipment is calculated on the straight-line method based on the residual values over their estimated useful lives. The percentage of depreciation taken per year according to the useful lives at the acquisition date of the furniture and equipment are as shown as follows: December 31, 2021 2022 Furniture equipment 10 to 20 % 10 to 20 % Machinery 10 to 20 % 10 to 20 % Computer equipment 20 to 33 % 20 to 33 % Transportation equipment 20 to 25 % 20 to 25 % Improvements to leased premises 10 % 10 % The residual values, useful life and depreciation method are reviewed and adjusted, if necessary, on an annual basis. 17.9.1) Land Land represents, mainly, a territorial extension for which the Company had an obligation of constructing 450 hotel rooms along with FONATUR in Huatulco which were recorded at its cost and are not subject to depreciation. During the second quarter of 2021, FONATUR and the Company entered into an agreement to terminate the sales contract for the land of Huatulco, and FONATUR paid the Company Ps.286,283 which was the price that the Company initially paid for the land. (See Note 15.c). 17.10) Intangible assets 17.10.1) Concessions The airports that are part of the Company performed the analysis of the following criteria that must be taken into account to know if they are within the scope of IFRIC 12: a. The grantor controls or regulates what services the operator must provide with the infrastructure, to whom it must provide them at what price. ● The grantor does not need to have full price control; it is sufficient that the price is regulated by the grantor, the contract or the regulator. ● The grantor can control the price through a limit mechanism. ● The price can vary from fixed price arrangements to those based on a formula up to a maximum price. b. The grantor controls, through ownership, the right of benefits or otherwise, any significant residual interest in the infrastructure at the end of the term of the agreement. Taking into consideration the foregoing, these criteria are applicable to each of the concessions that the Company has, which is why their measurement and determination will be considered within the scope of IFRIC 12. In addition, at the end of all the concessions, all assets become the property of the nation in which the concession is located. Within the scope of IFRIC 12, the respective assets can be classified as: Financial assets: when the licensor establishes an unconditional right to receive cash flows and other financial assets independently of the use of the public service by the users. Intangible assets: only when the licensor agreements do not establish a contractual right to receive cash flows and other financial assets from the licensor, independently of the use of the public service by the users. Airport concessions have been considered within the scope of IFRIC 12 as an intangible asset because they comply with the above provisions and no financial assets have been recognized in that regard. Mexico: Rights-to-use airport facilities and airport concessions include the acquisition of the nine airport concessions and the rights acquired. Amortization is computed using the straight-line method over the estimated useful life of the concessions, (original term of 50 years as of November 1, 1998); 26 years as of December 31, 2022. Aerostar: Aerostar’s airport concession, which includes the obligation to make certain capital expenditures in improvement projects, is considered an intangible asset and is recognized at cost less accumulated amortization and impairment losses. Amortization is calculated using the straight-line method during the term of the agreement (40 years); 30 years as of December 31, 2022. Airplan: In the case of Airplan, the right granted by the Concession Contract No.8000011-OK and Public Tender No. 10000001OL2010, respectively, is recorded as an intangible asset, through which the grantors assign to the Company the regulated and unregulated income corresponding to each of the airports subject to the concession. In turn, the costs per loan that are related to the works in execution are part of the intangible. The intangible asset resulting from the recognition and updating of the estimated income of the contract is amortized based on the proportion of the accumulated income of the contract and the total income. Amortization is recognized in the results of the period. The useful life for the amortization was determined as the duration of the concession and the amortization rate is calculated based on the percentage of execution of the revenues with respect to the total expected income of the financial model of the Company. The concession had a minimum term that ended 2015, however, in accordance with the complementary works carried out and the measurement of the expected income against the income generated, the concession will have a useful life until the year 2032, 10 years as of December 31, 2022. 17.10.2) Licenses and commercial direct operation (ODC, by its initials in Spanish) These items are recognized at their cost less the accrued amortization and any recognized impairment losses. They are amortized on a straight line basis using their estimated useful life, determined based on the expected future economic benefits, and are subject to testing when indication of impairment is identified. The useful lives are linked to the useful life of the concessions (See Note 17.10.1). The estimated useful lives at December 31, 2022 are as follows: Licenses Mexico 26 years ODC Mexico 26 years Commercial Rights of Aerostar 30 years Commercial Rights of Airplan 10 years 17.10.3) Goodwill Goodwill represents the acquisition cost of a subsidiary in excess of the Company’s interest in the fair value of the identifiable net assets acquired, determined at the acquisition date, and it is not subject to amortization. Goodwill is shown separately in the consolidated statement of financial position and is recorded at cost less accumulated impairment losses, which are not reversed. Gains and losses on the disposal of an entity include the carrying amount of goodwill relating to the entity sold. 17.10.4) Intangible assets acquired as part of a business combination When an intangible asset is acquired as part of a business combination, it is recognized at fair value at acquisition date. Subsequently, intangible assets acquired in a business combination, such as commercial rights, are recognized at cost less the accumulated amortization and the accrued amount of impairment losses. See useful lives of these rights in Note 17.10.2. 17.11) Impairment of long-term non-financial assets The long-term non-financial assets subject to amortization or depreciation are subject to annual impairment tests or more frequently if there are events or circumstances that indicate that they might be affected. Other assets are subject to impairment tests when events or circumstances arise that indicate that their book value might not be recovered. Impairment losses correspond to the amounts where the book value of the asset exceeds their recoverable amount. The recoverable amount of assets is the higher of the fair value of the asset less the costs incurred for its sale and value in use. For impairment assessment purposes, assets are grouped at the lowest levels at which they generate identifiable cash flows separately which are largely independent of the cash flows of other assets or the Company's assets (cash-generating units). Non-financial assets are assessed at every reporting date in order to identify potential reversals of such impairment. 17.12) Accounts payable Accounts payable are liabilities with creditors for purchases of goods or services acquired during the regular course of the Company’s operations. When payment is expected over a period of one year or less from the closing date, they are presented under current liabilities. If the foregoing is not complied with, they are presented under non-current liabilities. Accounts payable are initially recognized at their fair value and are subsequently measured at amortized cost using the effective interest method. 17.13) Bank l |
Financial risk management_
Financial risk management: | 12 Months Ended |
Dec. 31, 2022 | |
Financial risk management: | |
Financial risk management: | Note 18 - Financial risk management: The Company is exposed to financial risks that result from changes in interest rates, foreign exchange rates, price risk, liquidity risk and credit risk. The Company controls and maintains the treasury control functions related to transactions and global financial risks through practices approved by its Executive Board and Board of Directors. This note contains information regarding the Company’s exposure to each of the aforementioned risks, and the objectives, policies and procedures to measure and manage risk. The main risks to which the Company is exposed are: 18.1) Market risk 18.1.1) Interest rate risk 18.1.2) Exchange rate risk 18.1.3) Price risk 18.2) Liquidity risk 18.3) Credit risk - credit quality 18.4) Capital management 18.5) Fair value 18.1) Market risk 18.1.1) Interest rate risk The Company has contracted bank loans to partially finance its operations. These transactions expose the Company to interest risk, with the main exposure to the risk of variable interest rates resulting from changes in the market base rates (banks charge interest based on TIIE 28 days plus 125 basis points in 2021 and 2022) that are applied to the Company’s bank loans maturing in 2022 and 2024, which were paid in advance. As of September 2021, the Santander bank charges interest based on the 28-day TIIE rate plus 150 140 190 As of December 31, 2022, the reference rates used by the Company (TIIE and DTF) have suffered considerable increases compared to the year that ended on December 31, 2021, due to the economic uncertainty and increase in inflation. Although, at short term, there is a risk of an increase in interest rates, the Company has cash of 7.05 times to pay the amount of debt and short-term loans. As of December 31, 2021 and 2022, there are no loans referenced to the LIBOR rate. 18.1.2) Exchange rate risk The Company is exposed to minor risk for changes in the value of the Mexican Peso against the U. S. Dollar. Historically, a significant portion of income generated by the Company (mainly derived from the fees charged to international passengers) is denominated in U. S. Dollars, and despite that, income is invoiced in Pesos at the average exchange rate of the previous month and likewise the cash flows are collected in Pesos. At December 31, 2021 and 2022, the Company is exposed to exchange rate risk for monetary position is as follows: December 31, 2021 2022 Asset Ps. 124,656 Ps. 372,991 Liability (7,580) (5,520) Net Monetary Assets Ps. 117,076 Ps. 367,471 At December 31, 2021 and 2022, the exchange rate was Ps.20.47 and Ps.19.47, respectively. Had the currency weakened by 5% in 2021 (5% in 2022) with respect to the U.S. Dollar, the Company would have had a gain on monetary position at the close in the amount of Ps.119.8 million in 2021 (monetary gain of Ps.357.8 million in 2022). As of the issuance of this report, the last known closing exchange rate was Ps. 18.02 on April 14, 2023. 18.1.3) Price risk The rate regulation system applicable to the airports of the Company imposes maximum rates for each airport, which should not be exceeded on an annual basis. The maximum rates are the maximum annual income per unit of traffic (one passenger or 100 kg of cargo). If the maximum annual rate is exceed, the government authorities could revoke one or more of the Company’s concessions in Mexico. The Company monitors and adjusts its income on a regular basis in order for its annual invoicing not to exceed the maximum rate limits. In the case of the Aerostar and Airplan concessions, there are no maximum ceilings established by the corresponding Government. Concentrations: At December 31, 2021 and 2022, approximately 55.5% and 59.1%, of revenue, not including income from construction services, resulted from operations at the Cancún International Airport. 18.2) Liquidity risk Liquidity risk is the risk that the Company will not be able to meet its funding requirements. The Company’s management has established policies, procedures and limits of authority that govern the Treasury function. Treasury is responsible for ensuring liquidity and managing the working capital to ensure payments to suppliers, debt servicing and funding of operating costs and expenses. The Company is cautious about liquidity risk and maintains sufficient cash and negotiable instruments and the availability of financing through an adequate amount of credit facilities to meet obligations at maturity and settle trading positions. At period end on December 31, 2021, the Company had demand deposits amounting to Ps.8.770.062 and Ps.13,174,991 in 2022 and available credit lines amounting to USD20,000 (approximately Ps.409,400), to manage liquidity risk. Due to the dynamic current situation and uncertainty, the Company's Treasury function maintains flexibility in the funding under credit lines and keeping availability. Company’s management changes its liquidity reserves forecast (including unused credit lines) and cash and cash equivalents based on expected cash flows. In general, this is conducted at country level for operating entities of the Company according to practices and limits set. These limits vary in each country, taking into account the liquidity of the market in which the Company operates. Additionally, the Group’s policy on liquidity management includes cash flows projections in the main currencies and the consideration of the necessary level of liquid assets to meet these projections; the control of liquidity ratios of the Statement of Financial Position regarding the internal and external regulatory requirements, and the maintenance of the debt financing plans. The following table shows the liquidity position for each country where the Company operates. Loans and Loans and Cash and Short - term Long- term Total Loans December 31, 2021 equivalents Debt Debt and Debt Mexico Ps. 5,700,314 Ps. 6,964 Ps. 4,623,758 Ps. 4,630,722 Aerostar 2,295,087 353,672 6,598,397 6,952,069 Airplan 774,661 217,508 1,979,248 2,196,756 Total Ps. 8,770,062 Ps. 578,144 Ps. 13,201,403 Ps. 13,779,547 Loans and Loans and Cash and Short - term Long- term Total Loans December 31, 2022 equivalents Debt Debt and Debt Mexico Ps. 9,573,039 Ps. 1,486,817 Ps. 2,505,318 Ps. 3,992,135 Aerostar 2,334,403 377,215 9,891,961 10,269,176 Airplan 1,267,549 5,964 937,486 943,450 Total Ps. 13,174,991 Ps. 1,869,996 Ps. 13,334,765 Ps. 15,204,761 The following table presents the analysis of the net financial liabilities of the Company based on the period between the date of the statement of consolidated financial position and the maturity date, including undiscounted contractual cash flows: Under Between 3 months Between 1 Between 2 and At December 31, 2021 3 months and one year and 2 years 5 years Bank loans and interest Ps. 13,660 Ps. 210,812 Ps. 3,945,092 Ps. 2,305,320 Long term debt 114,009 239,663 1,512,848 5,696,815 Suppliers 290,689 Accounts payable and accrued expenses 1,383,249 At December 31, 2022 Bank loans and interest Ps. 637,733 Ps. 944,235 Ps. 1,354,415 Ps. 1,900,147 Long term debt 158,242 280,166 973,931 3,477,822 Suppliers 307,068 Accounts payable and accrued expenses 1,170,318 The following table shows the Company’s short term liquidity as of: December 31, 2021 2022 Current assets Ps. 11,662,100 Ps. 18,080,170 Current liabilities 3,786,398 5,563,973 Short term position (liquidity) Ps. 7,875,702 Ps. 12,516,197 18.3) Credit risk - credit quality The financial instruments that are potentially subject to credit risks consist mainly of accounts receivable. Income obtained from fares charged to passengers is not guaranteed and therefore the Company faces the risk of not being able to collect the full amounts invoiced in the event of insolvency of its clients, the airlines. The Company frequently reviews financial instruments and tests them for impairment. (See Note 6.3). Due to the COVID-19 contingency that has affected the travel industry, and the economic recession caused by the pandemic COVID-19, the Company negotiated to extend the payment terms of the agreements with some clients by signing promissory notes with a term of no more than one year, to secure payment. As of December 31, 2021 the balance of the account of documents receivable from third parties in Mexico amounts to Ps.4,463. As of December 2022, the balance owed by the Company’s clients in connection with the aforementioned agreements was settled. (See Note 6.2). In recent years, there have been airlines that have reported substantial losses, and the income from passenger fees from main client airlines is, not all guaranteed. Therefore, in the event of insolvency of any of the airlines, the Company would have no certainty of recovering the total sum of amounts invoiced to the airlines for passenger fees. In August 2010, Grupo Mexicana filed for bankruptcy. Grupo Mexicana owes the Company Ps.128,000 for passenger fees. As a result of Grupo Mexicana’s bankruptcy, the Company at that time had, its reserve for uncollectable accounts by Ps.128,000 . The Company has determined that it may not be able to collect that amount. (See Note 6.3). The Company operates under three methods to collect from Airlines: a) Credit, mainly offered to airlines with which there is a history of frequent and stable flights, b) Advances, from airlines with reasonably stable flights or that are in the exploration stage of routes or destinations, and c) Cash, mainly offered for Charter flights and airlines with new flights. With this segregation, the Company reduces its collection risk since the airlines that operate under methods b) and c) do not generate accounts receivable. Cash and cash equivalents are not subject to credit risks since the amounts are kept at financial institutions of good standing, and investments are subject to lower significant risk as they are being backed by the Mexican Federal Government or institutions with AAA high market ratings. 18.4) Capital management The objective of management is to safeguard the Company's ability to continue operating as a going-concern in order to provide returns for stockholders and benefits for other stakeholders and to maintain an optimal capital structure to reduce the cost of capital. These activities are monitored through the review of information pertaining to the Company’s operation and the Industry. This effort is coordinated by the CEO. Through a planning method, detailed simulations are formulated of identified risks as they are known. The risks identified are valued in terms of probability and impact and are presented to the proper authorities. The result of all these activities is reported to the market through 20-F reports, the sole circular and quarterly reports by a financial Risk Analysis Committee that reports to Company's Board of Directors. During the year, there was no material uncertainty regarding the Company’s ability to continue as a going concern. At December 31, 2021 and 2022, the Company’s Board has a reasonable expectation that the Company has the appropriate resources to continue operating at least for the next twelve months and that the use of the going concern basis of accounting is appropriate. 18.5) Fair value Financial instruments (bank loans and long term debts), at amortized cost in accordance with the valuation method used are at level 2 in 2021 and 2022, there are no financial instruments carried at fair value. The different levels have been defined as follows: Level 1: Unadjusted quoted prices in active markets for identical assets or liabilities. Level 2: Quoted prices for similar instruments in active markets; quoted prices for instruments, identical or similar, in non-active markets and valuations through models where all significant data are observable in the active markets. Level 3: Asset or liability input that is not based on observable market data (i.e., non-observable). The fair value of financial instruments traded in active markets is based on market prices quoted at the consolidated statement of financial position closing date. A market is considered active if quotation prices are clearly and regularly available through a stock exchange, trader, dealer, industry group, price fixing services, or regulatory agency, and those prices reflect regularly and on current bases the market transactions under independent conditions. The quoted price used for the financial assets held by Company’s is the current offer price. |
Critical accounting judgments a
Critical accounting judgments and key sources of estimation uncertainty: | 12 Months Ended |
Dec. 31, 2022 | |
Critical accounting judgments and key sources of estimation uncertainty: | |
Critical accounting judgments and key sources of estimation uncertainty: | Note 19 - Critical accounting judgments and key sources of estimation uncertainty: In applying the Company’s accounting policies, which are described below, Company management is required to make judgments, estimates and assumptions about the carrying amounts of assets and liabilities. Estimates and assumptions are based on historical experience and other factors considered relevant. Actual results could differ from those estimates. Critical accounting judgments Significant information on assumptions, critical judgments and uncertainty estimations recognized in the consolidated financial statements are as follows: 19.1 Revenue 19.2 Useful life of the Airplan concession 19.3 Evaluation of impairment of intangible assets, airport concessions and goodwill 19.1 Revenue As mentioned in Note 18.1.3, the Company regularly monitors and adjusts income so as to avoid exceeding the maximum rate at each of the airports operated by the Company in Mexico, which is the annual maximum income per traffic unit that can be received, and therefore the amount that the Company can record for services rendered whose prices are regulated. If the Company recognized income exceeding that maximum rate, the authorities could cancel one or more airport concessions. Therefore, the Company regularly monitors regulated income in Mexico to ensure it does not exceed the limit. The application of the procedure established in the concession titles for determining whether revenues are in excess of the maximum rates and securing the necessary information are complex procedures. Among the information used in determining the maximum rate is passenger traffic and cargo statistics, in addition to variables such as the National Producer Price Index (excluding oil), authorized rates for airport services and the Rate for Airport Use. 19.2 Useful life of the Airplan concession The overall duration of the Airplan concession depends on the revenues generated by the Colombian airports. In particular, the concession remains in effect until the date on which any of the following events occur: ● The regulated revenues generated are equal to the expected regulated revenues, provided that the concession agreement has been in force for at least 24 years . ● The concession agreement has been in force for at least 40 years , regardless of whether the regulated revenues generated are equal to the expected revenues. If the regulated revenues generated by the Colombian airports are equal to the expected revenues before the end of the 24 year period, the concession agreement will remain in effect until the end of such period. Thus, management considers such factors in determining the final year of the concession term, which is 2032; however, in accordance with legal guidelines, the concession term may be extended until 2048 as long as the aforementioned requirements established by the grantor are met. It must be taken into account, for purposes of the expected regulated revenues according to the definition in the concession contract, that the expected regulated revenues will increase once each of the complementary works (mandatory or voluntary) is delivered to the grantor. The Company conducts sensitivity analyses to determine the level of possible changes in the assumptions used to determine the useful life of the concession, in order to determine if the useful life would change significantly. At December 31, 2020, 2021 and 2022 the expected total revenues considering the additional works amount to Ps.17,540,245, Ps.14,381,166 and Ps.12,634,029, respectively. 19.3 Evaluation of impairment of intangible assets, airport concessions and goodwill Intangible assets, airport concessions and goodwill are assessed for impairment whenever events or changes in circumstances indicate that the value of the intangible assets could be impaired and at least once a year in the case of goodwill. To determine whether the value of intangible assets and goodwill has been impaired, the cash generating unit relating to the intangible asset and goodwill has to be valued using present value techniques. By applying this valuation technique, the Company is based on a series of factors, including historical results, business plans, forecasts and market data. This is further described in Note 8.1. As can be deducted from this description, changes in the conditions of these judgments and estimates can significantly affect the assessed value of intangible assets and goodwill. |
Consolidated statements of ca_2
Consolidated statements of cash flows: | 12 Months Ended |
Dec. 31, 2022 | |
Consolidated statements of cash flows: | |
Consolidated statements of cash flows: | Note 20 - Consolidated statements of cash flows: As of December 31, 2020, 2021 and 2022, the analysis of net debt and movements in net debt is presented as follows: Long - term debt Bank Loans 2020 2021 2022 2020 2021 2022 Short-term debt (Note 11) Ps. 330,235 Ps. 353,672 Ps. 377,215 Short-term bank loans (Note 10) Ps. 808,515 Ps. 224,472 Ps. 1,492,781 Long-term bank loans (Note 10) 6,119,655 6,603,006 3,442,804 Long-term debt (Note 11) 6,641,941 6,598,397 9,891,961 Balances at December 31 Ps. 6,972,176 Ps. 6,952,069 Ps. 10,269,176 Ps. 6,928,170 Ps. 6,827,478 Ps. 4,935,585 Balances at January 1 of the debt-net Ps. 6,799,941 Ps. 6,972,176 Ps. 6,952,069 Ps. 6,912,952 Ps. 6,928,170 Ps. 6,827,478 Interest expense 450,806 454,863 523,488 398,899 387,523 332,030 Bank loans(Note 10) 306,241 4,650,000 Long-term debt (Note 11) 3,947,522 Interest paid (476,927) (428,530) (532,579) (466,066) (480,168) (547,042) Payments of the long term debt and bank loans (253,925) (220,961) (222,568) (245,520) (4,429,334) (1,498,076) Foreign currency translation 452,281 174,521 (398,756) 21,664 (228,713) (178,805) Balances at December 31 Ps. 6,972,176 Ps. 6,952,069 Ps. 10,269,176 Ps. 6,928,170 Ps. 6,827,478 Ps. 4,935,585 |
Subsequent Event_
Subsequent Event: | 12 Months Ended |
Dec. 31, 2022 | |
Subsequent Event: | |
Subsequent Event: | Note 21 - Subsequent Event: At December 31, 2022 to the date of issuance of these consolidated financial statements, there were no events that could have a significant effect on the information contained in the consolidated financial statements. |
Authorization of the consolidat
Authorization of the consolidated financial statements: | 12 Months Ended |
Dec. 31, 2022 | |
Authorization of the consolidated financial statements: | |
Authorization of the consolidated financial statements: | Note 22 - Authorization of the consolidated financial statements: The consolidated financial statements and their twenty two notes are an integral part of the consolidated financial statements, which were authorized and proposed for their issuance to the Board of Directors on April 17, 2023 by Mr. Adolfo Castro Rivas, Chief Executive Officer of Grupo Aeroportuario del Sureste, S.A.B. de C.V. |
Summary of the main accountin_2
Summary of the main accounting policies: (Policies) | 12 Months Ended |
Dec. 31, 2022 | |
Summary of the main accounting policies: | |
New standards and amendments | 17.1) New standards and amendments Some of the modifications and improvements that came into effect as of January 1, 2022 were: ● Amendments to IFRS 3 - Minor amendments were made to IFRS 3 Business Combinations to update references to Conceptual framework for financial information and add an exception for the recognition of liabilities and contingent liabilities within the scope of IAS 37 Provisions, contingent liabilities and contingent assets and to Interpretation 21 Levies. Effective as of January 1, 2022. ● Amendments to IAS 37 Onerous contracts: cost of fulfilling a contract. Effective as of January 1, 2022. ● Annual improvements to IFRS 2018–2020 standards - The following improvements were completed in May 2020 and were effective as of January 1, 2022: a) IFRS 9 Financial Instruments: clarifies what commissions and fees must be included in the 10% test for the de recognition of financial liabilities. b) IFRS 16 Leases: modification of illustrative example 13 to eliminate the illustration of the lessor's payments in relation to lease improvements, to eliminate any confusion on the treatment of lease incentives. These modifications and improvements did not have a significant impact for the Company. The Company considered in the preparation of the consolidated financial statements the agenda decision issued by the IFRS IC "Demand deposits with restrictions on use derived from a contract with a third party (IAS 7)" in April 2022. The modifications and improvements to the standards that have been issued after, and are not effective for the annual periods ending on December 31, 2022 are the following: ● Amendments to IAS 1 - Non-current liabilities with covenant. Clarifies how the conditions that an entity must meet within twelve months after the reporting period affect the classification of the liability. Effective as of January 1, 2024. ● Amendments to IAS 1 and Practice Statement No.2 of the IFRS - Disclosure of Accounting Policies. Effective as of January 1, 2023. ● Amendments to IAS 8 - Definition of accounting estimates. Effective as of January 1, 2023. ● Amendments to IAS 12 - Deferred Tax related to assets and liabilities arising from a single transaction. Effective as of January 1, 2023. These modifications are not expected to have a significant impact on the Company. |
Consolidation and equity method | 17.2) Consolidation and equity method The consolidated subsidiaries of the Company, for which it has a shareholding as of December 31, 2021 and 2022, are shown as follows: Shareholding percentage (%) Main activity Aeropuerto de Cancún, S. A. de C. V. 100 % Airport services Aeropuerto de Cozumel, S. A. de C. V. 100 % Airport services Aeropuerto de Mérida, S. A. de C. V. 100 % Airport services Aeropuerto de Huatulco, S. A. de C. V. 100 % Airport services Aeropuerto de Oaxaca, S. A. de C. V. 100 % Airport services Aeropuerto de Veracruz, S. A. de C. V. 100 % Airport services Aeropuerto de Villahermosa, S. A. de C. V. 100 % Airport services Aeropuerto de Tapachula, S. A. de C. V. 100 % Airport services Aeropuerto de Minatitlán, S. A. de C. V. 100 % Airport services Cancun Airport Services, S. A. de C. V. (*) 100 % Airport services Aerostar Airport Holdings, LLC 60 % Airport services Sociedad Operadora de Aeropuertos Centro Norte, S.A. 100 % Airport services RH Asur, S. A. de C. V. 100 % Administrative services Servicios Aeroportuarios del Sureste, S. A. de C. V. 100 % Administrative services Asur FBO, S. A. de C. V. (*) 100 % Administrative services Caribbean Logistics, S. A. de C. V. (*) 100 % Cargo services Cargo RF, S. A. de C. V. (*) 100 % Cargo services (*) Aerostar information Aerostar reports its financial information in IFRS, for purposes of consolidating in the Company and in USD The exchange rate used at 2021 and 2022 year end was Ps.20.47 and Ps.19.47 Mexican Pesos per Dollar, respectively. Relevant information about Aerostar and its significant non-controlling interest As of December 31, 2020, 2021 and 2022, the condensed financial information of Aerostar, where there is a significant non-controlling interest, is presented as follows: December, 31 2020 2021 2022 Condensed statement of financial position Cash and cash equivalents Ps. 804,634 Ps. 2,295,087 Ps. 2,334,403 Restricted cash 5,055 123,081 1,272,106 Other current assets 566,031 183,284 528,297 Total current assets 1,375,720 2,601,452 4,134,806 Financial liabilities: Current liabilities (606,433) (804,548) (1,184,023) Working capital 769,287 1,796,904 2,950,783 Land, furniture and equipment 151,971 126,494 115,798 Intangible assets, airport concessions - Net 13,535,370 13,656,912 12,920,453 Other long term assets 32,578 64,442 90,777 Long term debt (7,171,278) (6,952,068) (9,891,961) Accounts payable to the Company (104,065) Other long term liabilities (19,864) (19,378) (18,265) Deferred income tax - Net (448,829) (518,578) (547,480) Shareholders’ equity Ps. 6,745,170 Ps. 8,154,728 Ps. 5,620,105 Year ended December, 31 2020 2021 2022 Condensed statements of comprehensive income Revenue Ps. 2,902,238 Ps. 3,652,835 Ps. 4,110,028 Operating cost and expenses (1,956,081) (1,939,555) (2,146,680) Other income 158,906 346,232 Comprehensive financial cost - Net (495,443) (453,326) (459,471) Net income tax (60,684) (57,529) (41,863) Income tax provision 548,936 1,202,425 1,808,246 Foreign currency translation (301,695) (207,132) (95,881) Total comprehensive income Ps. 247,241 Ps. 995,293 Ps. 1,712,365 On October 20, 2022, Aerostar's Board of Directors approved a reimbursement of contributed capital for USD165,625 (Ps.2,113,113), and a dividend payment for USD34,375 (Ps.690,833), corresponding to profits for the year 2022, of which 60% corresponds to the Company and 40% to the Avialliance partner. The Company did not change its proportional shareholding in Aerostar, maintaining control with 60% of the capital stock. These payments were not considered a partial disposal of the Company’s interest and the cumulative effects of changes in foreign exchange rates (CTA) were not reclassified to comprehensive income. As regards the non-controlling interest in Aerostar’s subsidiary, there are no significant restrictions on the possibility of gaining access to files or using them for the payment of liabilities. Airplan information Airplan reports its financial information in IFRS for purposes of consolidating in the Company and in Colombian pesos. The exchange rate used at 2021 and 2022 year end was Ps.198.28 and Ps.248.48 Colombian Peso per Mexican Peso, respectively. a. Subsidiaries Subsidiaries are all entities over which the Company has control. The Company controls an entity when the Company is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. Subsidiaries are fully consolidated from the date on which control is transferred to the Company. They are deconsolidated from the date that control ceases. Intercompany transactions, balances, revenues and expenses due to transactions between the group companies were eliminated. The non-realized results were also eliminated. The subsidiaries’ accounting policies are consistent with the policies adopted by the Company. The Company uses the purchase method to recognize business acquisitions. The consideration for the acquisition of a subsidiary is determined based on the fair value of the net assets transferred, the liabilities assumed and the capital issued by the Company. The Company defines a business combination as a transaction in which it obtains control of a business, through which it has the power to govern and manage the relevant activities of the of assets and liabilities of said business with the purpose of providing return in the form of dividends, lower costs or other economic benefits directly to investors. The consideration transferred in the acquisition of a subsidiary is the fair value of the assets transferred, the liabilities incurred and the equity interests issued by the Company. The consideration transferred includes the fair value of any asset or liability that results from a contingent consideration agreement. The identifiable assets acquired, the liabilities and contingent liabilities assumed in a business combination are initially measured at their fair value on the date of acquisition. The Company recognizes any non-controlling interest in the acquired entity based on the proportional part of the non-controlling interest in the net identifiable assets of the acquired entity. Costs related to the acquisition are recognized as expenses in the consolidated statement of income as incurred. Goodwill is initially measured as the excess of the consideration paid and the fair value of the non-controlling interest in the acquired subsidiary over the fair value of the identifiable net assets and the liabilities acquired. If the consideration transferred is less than the fair value of the net assets of the acquired subsidiary in the case of a purchase at a bargain price, the difference is recognized directly in the consolidated statement of income. If the business combination is reached in stages, the book value at the date of acquisition of the participation previously held by the Company in the acquired entity, is remeasured at its fair value at the acquisition date. Any loss or gain resulting from such remeasurement is recognized in the results of the year. b. Changes in the interests of subsidiaries without loss of control Transactions with non-controlling interests that do not result in loss of control are accounted for as equity transactions, which are transactions with shareholders in their capacity as owners. The difference between the fair value of the consideration paid and the interest acquired in the carrying value of the net assets of the subsidiary is recorded in stockholders’ equity. Gains or losses on the sale of non-controlling interests are also recorded in stockholders’ equity. c. Disposal of subsidiaries When the Company loses control over one entity, any retained interest in the entity is measured at fair value, recognizing the effect in profit or losses. Subsequently, the fair value is the initial carrying amount for the purpose of determining the retained interest as an associate, joint venture or financial asset, as appropriate. Additionally, the amounts previously recognized in Other Comprehensive Income (OCI) relating to those entities are canceled as though the Company had directly disposed of the related assets or liabilities. This means that the amounts previously recognized in OCI are reclassified to profit or losses of the period. d. Acquisition in stages The additional acquisition in joint ventures accounted under the equity method is considered a business combination conducted in stages, which means that the fair value of interest previously acquired was also revalued. e. Joint Arrangements Under IFRS 11 investments in joint arrangements are classified as either a joint operation or a joint venture depending on the contractual rights and obligations of each investor, rather than the legal structure of the joint arrangement. f. Joint ventures Interest in joint ventures is accounted for under the equity method, after being initially recognized at cost in the consolidated statement of financial position. On February 20, 2020, our subsidiary Aeropuerto de Cancún entered into a contractual agreement with Aviation Investments, LLC, to set up a joint venture through a separate legal entity called Airport Development Group, LLC, with each Company holding an interest of 50%. Initial investment amounted to USD500 (Ps.10,556). According to the agreement, decisions on the relevant activities of the entity require unanimous consent of both parties. The Company assessed the nature of the transaction and determined it was a joint venture. Joint ventures are recognized through the equity method. g. Equity method Under the equity method, investments are initially recognized at cost and are subsequently adjusted to recognize equity in post-acquisition results, as well as movements in other comprehensive income. Dividends received or receivable from joint ventures are recognized as a reduction in the amount of the investment. When the Company's share in the losses of a joint venture equals or exceeds its share in the joint venture (which includes any long-term interest that is in substance part of the Company's net investment in the joint venture), the Company does not recognize additional losses, unless it has incurred obligations or made payments on behalf of or on behalf of the joint venture. Unrealized income on transactions between Group Companies and their joint ventures are eliminated up to the amount of the Group's interest in the joint venture. Unrealized losses are also eliminated unless the transaction provides some evidence of impairment of the transferred asset. The accounting policies of the investments accounted for under the equity method have changed when necessary to ensure consistency with the policies adopted by the Company. h. Capital reduction in foreign subsidiaries The capital reductions without changing the parent's proportional percentage interest holding, is not considered a partial disposition. Since the Group maintains the same ownership percentage and continues to control the subsidiary abroad, the cumulative effects of the translation effect are not reclassified to the statement of comprehensive income. |
Conversion of foreign currencies | 17.3) Conversion of foreign currencies Functional currency and reporting currency Items included in the consolidated financial statements of each of the companies of the Company are measured in the currency of the primary economic environment in which the entity operates, i.e., its “functional currency” which is also the reporting currency. The consolidated financial statements are presented in thousands of Mexican pesos, which is the Company’s reporting currency. 17.3.1) Consolidation of subsidiaries with a functional currency different from the reporting currency The results and financial position of Aerostar and Airplan (none of which handle a currency that corresponds to a hyperinflationary economy) expressed in a functional currency other than the reporting currency are converted to the reporting currency as follows: i. The assets and liabilities recognized in the consolidated statement of financial position are translated at the exchange rate on the balance sheet date. ii. The stockholders’ equity in the consolidated statement of financial position is translated using the historical exchange rates. iii. Income and expenses recognized in the consolidated statement of income are translated at the average exchange rate for each year (unless that average is not a reasonable approximation of the effect of translating the results derived from the exchange rates prevailing at transaction dates, in which case the Company uses the respective rates). iv. The resulting exchange differences are recognized within OCI. Goodwill and fair value adjustments that arise on the date of acquisition of a foreign operation to measure them at fair value are recognized as assets and liabilities of the foreign entity and are converted at the closing exchange rate. 17.3.2) Transactions in foreign currency and results from exchange fluctuations Operations carried out in foreign currency are recorded in the functional currency applying the exchange rates in effect at the transaction date or the exchange rate at the date of the valuation when the items are revalued. Exchange differences arising from fluctuations in the exchange rates between the transactions and settlement dates, or the consolidated statement of financial position date, are recognized in the consolidated comprehensive income statement. |
Cash and cash equivalents | 17.4) Cash and cash equivalents Cash and cash equivalents include cash, bank deposits and other highly liquid investments with low risk of changes in value and maturing within three months or earlier. As of December 31, 2021 and 2022, cash and cash equivalents consisted primarily of peso and dollar denominated bank deposits and peso denominated investment bonds issued by the Mexican Federal Government. |
Fiduciary rights | 17.5) Fiduciary rights In accordance with the requirements of the concession agreement, Airplan was required to constitute a trust, with Fiduciaria Bancolombia as trustee, to administer the concession’s resources and to oversee the payment of the concession’s obligations by the concessionaire. Airplan transfers all of the gross income it receives and all of the debt and capital resources it obtains from the administrations of the concession. |
Restricted cash | 17.6) Restricted cash Restricted cash is presented as current if it is expected to be used within 12 months from the reporting date. Any funds restricted beyond 12 months are recorded as non-current. Restricted cash includes cash that is restricted in access and use. The nature of the restrictions includes pre-use approvals and restrictions imposed by bond placement contracts and federal agency funds related to capital expenditures. Aerostar maintains cash restricted by a requirement of the debt instruments in the amount of Ps.1,175,622 as of December 31, 2022 and has restricted cash for PFC in the amount of Ps.96,485 and Ps.123,081 as of December 31, 2022 and 2021, respectively. Mexico maintains restricted cash of Ps.148,621 as of December 31, 2022 held as part of the fulfillment of its infrastructure investment commitments described in the MDP. (See Note 5.1.) |
Financial assets | 17.7) Financial assets a. Classification. - the Company classifies its financial assets into the following measurement categories: a) financial assets measured at amortized cost; and b) financial assets subsequently measured at fair value (either through other comprehensive income or through profit or loss). At present, the Company does not hold any financial assets. This classification depends on the business model of the Company to manage its financial instruments and the terms of the instrument's contractual cash flows. The Company reclassifies financial assets when, and only when, it changes its business model for the management of those assets. The Company’s financial assets are measured at amortized cost, since contractual terms comply with the SPPI (solely payment of principal and interest) requirement, and the Company’s business model is achieved by collecting cash flows. b. Measurement. - At initial recognition, financial assets at amortized cost are measured at fair value plus transaction costs that are directly attributable to their acquisition. Transaction costs of financial assets measured at fair value (through profit or loss or through other comprehensive income) are recognized in profit or loss as incurred. Gains and losses on assets measured at fair value are recorded in profit or loss or in other comprehensive income. Financial assets with embedded derivatives are considered as a whole if it is determined that the cash flows correspond exclusively to the payment of principal and interest. Accounts receivable are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. They are included as current assets, except for maturities greater than 12 months following the date of the Statement of Financial Position. These are classified as non-current assets. Loans and accounts receivable are initially recognized at fair value plus directly attributable transaction costs, and subsequently measured at amortized cost. c. Impairment. - Impairment losses are presented as net impairment losses within the operating result. Subsequent recoveries of previously canceled amounts are credited against the same line. For accounts receivable, the Company applies the simplified approach allowed by IFRS 9, which requires that the expected losses over the life of the instrument be recognized from the initial recognition of accounts receivable. (See Note 6.) |
Leasing | 17.8) Leasing 17.8.1) As lessor The leasing of terminal space made by the Company in its capacity as lessor at the terminals is documented by contracts with either fixed income or monthly fees based on the higher amount of a minimum monthly fee or a percentage of the lessee’s monthly revenue. Since the leased assets are part of the concession assets and thus do not belong to the Company, there is no transfer of the risks and rewards of ownership and therefore are classified as operating leases. Revenues from operating leases are recognized as non-aeronautical revenues on a straight line basis over the lease term. 17.8.2) As lessee Leases are recognized as right-of-use assets and lease liabilities on the date the leased assets are available for use by the Company. Right-of-use assets and liabilities arising from a lease under IFRS 16 “Leases” are initially measured at the present value. Lease liabilities include the present value, net of the following lease payments: i) fixed lease payments, less any lease incentive receivable; ii) variable lease payments that depend on an index or a rate, initially measured using the index or rate at the commencement date; and iii) the amounts that the Company expects to pay under residual value guarantees. Lease payments must be discounted at the rate implicit in the lease. In the case of the Company, the interest rate cannot be readily determined. Thus, the lessee’s incremental borrowing rate is used, which is the rate of interest that a lessee would have to pay to borrow over a similar term, and with a similar security, the funds necessary to obtain an asset of a similar value to the right-of-use asset in a similar economic environment. To determine the borrowing incremental rate, the Company: ● Uses, whenever possible, recent third-party financing received by lessee as a starting point, adjusted to reflect changes in financing conditions since third-party financing was received; ● Uses other approaches, starting with a risk-free rate, adjusted for the credit risk of leases held that have not obtained recent third-party financing; and ● Applies specific adjustments to the lease, e.g. term, country, currency and guarantees. Lease payments are distributed among principal and interest expense. Interest expense is charged to profit or loss over the lease term to produce a constant periodic interest rate on the remaining liability for each period. Right-of-use assets are measured: ● Lease initial measurement amount. ● Any lease payment made on or before the commencement date less any lease incentive received. ● Any initial direct cost. Right-of-use assets are generally depreciated on a straight-line basis over the shorter period of the asset useful life and the lease term, and the depreciation expense is recognized in the Statement of profit or loss. Payments of short-term leases and leases of low-price assets are expensed by applying the straight-line method. Short-term leases are leases with a term of 12 months or less. To determine the lease term, the Company considers all facts and circumstances creating an economic incentive to exercise an extension option. The reasonable certainty assessment is only reviewed when there is a significant event or a significant change in circumstances that affect such assessment and that are within lessee’s control. At December 31, 2022, there are no contracts regarding which there is a reasonable certainty to extend lease terms. |
Land, furniture and equipment | 17.9) Land, furniture and equipment Furniture and equipment are recorded at cost less accumulated depreciation and impairment loss. The cost includes expenses directly attributable to the acquisition of those assets and all costs associated with placing the assets in the location and in the condition necessary for them to operate as intended by management. Land is recorded at cost and it is not depreciated. Depreciation of other items of plant and equipment is calculated on the straight-line method based on the residual values over their estimated useful lives. The percentage of depreciation taken per year according to the useful lives at the acquisition date of the furniture and equipment are as shown as follows: December 31, 2021 2022 Furniture equipment 10 to 20 % 10 to 20 % Machinery 10 to 20 % 10 to 20 % Computer equipment 20 to 33 % 20 to 33 % Transportation equipment 20 to 25 % 20 to 25 % Improvements to leased premises 10 % 10 % The residual values, useful life and depreciation method are reviewed and adjusted, if necessary, on an annual basis. 17.9.1) Land Land represents, mainly, a territorial extension for which the Company had an obligation of constructing 450 hotel rooms along with FONATUR in Huatulco which were recorded at its cost and are not subject to depreciation. During the second quarter of 2021, FONATUR and the Company entered into an agreement to terminate the sales contract for the land of Huatulco, and FONATUR paid the Company Ps.286,283 which was the price that the Company initially paid for the land. (See Note 15.c). |
Intangible assets | 17.10) Intangible assets 17.10.1) Concessions The airports that are part of the Company performed the analysis of the following criteria that must be taken into account to know if they are within the scope of IFRIC 12: a. The grantor controls or regulates what services the operator must provide with the infrastructure, to whom it must provide them at what price. ● The grantor does not need to have full price control; it is sufficient that the price is regulated by the grantor, the contract or the regulator. ● The grantor can control the price through a limit mechanism. ● The price can vary from fixed price arrangements to those based on a formula up to a maximum price. b. The grantor controls, through ownership, the right of benefits or otherwise, any significant residual interest in the infrastructure at the end of the term of the agreement. Taking into consideration the foregoing, these criteria are applicable to each of the concessions that the Company has, which is why their measurement and determination will be considered within the scope of IFRIC 12. In addition, at the end of all the concessions, all assets become the property of the nation in which the concession is located. Within the scope of IFRIC 12, the respective assets can be classified as: Financial assets: when the licensor establishes an unconditional right to receive cash flows and other financial assets independently of the use of the public service by the users. Intangible assets: only when the licensor agreements do not establish a contractual right to receive cash flows and other financial assets from the licensor, independently of the use of the public service by the users. Airport concessions have been considered within the scope of IFRIC 12 as an intangible asset because they comply with the above provisions and no financial assets have been recognized in that regard. Mexico: Rights-to-use airport facilities and airport concessions include the acquisition of the nine airport concessions and the rights acquired. Amortization is computed using the straight-line method over the estimated useful life of the concessions, (original term of 50 years as of November 1, 1998); 26 years as of December 31, 2022. Aerostar: Aerostar’s airport concession, which includes the obligation to make certain capital expenditures in improvement projects, is considered an intangible asset and is recognized at cost less accumulated amortization and impairment losses. Amortization is calculated using the straight-line method during the term of the agreement (40 years); 30 years as of December 31, 2022. Airplan: In the case of Airplan, the right granted by the Concession Contract No.8000011-OK and Public Tender No. 10000001OL2010, respectively, is recorded as an intangible asset, through which the grantors assign to the Company the regulated and unregulated income corresponding to each of the airports subject to the concession. In turn, the costs per loan that are related to the works in execution are part of the intangible. The intangible asset resulting from the recognition and updating of the estimated income of the contract is amortized based on the proportion of the accumulated income of the contract and the total income. Amortization is recognized in the results of the period. The useful life for the amortization was determined as the duration of the concession and the amortization rate is calculated based on the percentage of execution of the revenues with respect to the total expected income of the financial model of the Company. The concession had a minimum term that ended 2015, however, in accordance with the complementary works carried out and the measurement of the expected income against the income generated, the concession will have a useful life until the year 2032, 10 years as of December 31, 2022. 17.10.2) Licenses and commercial direct operation (ODC, by its initials in Spanish) These items are recognized at their cost less the accrued amortization and any recognized impairment losses. They are amortized on a straight line basis using their estimated useful life, determined based on the expected future economic benefits, and are subject to testing when indication of impairment is identified. The useful lives are linked to the useful life of the concessions (See Note 17.10.1). The estimated useful lives at December 31, 2022 are as follows: Licenses Mexico 26 years ODC Mexico 26 years Commercial Rights of Aerostar 30 years Commercial Rights of Airplan 10 years 17.10.3) Goodwill Goodwill represents the acquisition cost of a subsidiary in excess of the Company’s interest in the fair value of the identifiable net assets acquired, determined at the acquisition date, and it is not subject to amortization. Goodwill is shown separately in the consolidated statement of financial position and is recorded at cost less accumulated impairment losses, which are not reversed. Gains and losses on the disposal of an entity include the carrying amount of goodwill relating to the entity sold. 17.10.4) Intangible assets acquired as part of a business combination When an intangible asset is acquired as part of a business combination, it is recognized at fair value at acquisition date. Subsequently, intangible assets acquired in a business combination, such as commercial rights, are recognized at cost less the accumulated amortization and the accrued amount of impairment losses. See useful lives of these rights in Note 17.10.2. |
Impairment of long-term non-financial assets | 17.11) Impairment of long-term non-financial assets The long-term non-financial assets subject to amortization or depreciation are subject to annual impairment tests or more frequently if there are events or circumstances that indicate that they might be affected. Other assets are subject to impairment tests when events or circumstances arise that indicate that their book value might not be recovered. Impairment losses correspond to the amounts where the book value of the asset exceeds their recoverable amount. The recoverable amount of assets is the higher of the fair value of the asset less the costs incurred for its sale and value in use. For impairment assessment purposes, assets are grouped at the lowest levels at which they generate identifiable cash flows separately which are largely independent of the cash flows of other assets or the Company's assets (cash-generating units). Non-financial assets are assessed at every reporting date in order to identify potential reversals of such impairment. |
Accounts payable | 17.12) Accounts payable Accounts payable are liabilities with creditors for purchases of goods or services acquired during the regular course of the Company’s operations. When payment is expected over a period of one year or less from the closing date, they are presented under current liabilities. If the foregoing is not complied with, they are presented under non-current liabilities. Accounts payable are initially recognized at their fair value and are subsequently measured at amortized cost using the effective interest method. |
Bank loans and long-term debt | 17.13) Bank loans and long-term debt Loans from financial institutions are initially recognized at their fair value, net of transaction costs. Those funds are subsequently recorded at their amortized cost; any difference between the funds received (net of transaction costs) and the redemption value is recognized in the statement of income during the funding period using the effective interest method. 17.13.1) Debt renegotiation If the renegotiation results in the cancellation of the original liability because the 10% test is exceeded, as stablished in IFRS 9, the original liability is canceled and any difference is recognized in results when the renegotiation occurs. If the renegotiation does not result in the cancellation of the financial liability, then (i) the value of the new cash flows of the financial liability is discounted at the original effective interest rate, (ii) any difference between the discounted value and the carrying amount is recognized in results and (iii) the effective interest rate is prospectively adjusted to include the new costs and commissions. 17.13.2) Costs for loans Costs of specific and general loans directly attributable to the construction of qualifying assets are capitalized during the period of construction and preparation of the asset for its use. Qualifying assets are those that require a substantial period to be ready and able to be used (usually greater than one year). Financial revenues obtained from temporary investments made with money coming from specific loans that will be used for the construction of qualifying assets are decreased of financial costs eligible for capitalization. The capitalization of costs for loans in foreign currency that generates interests and losses due to foreign exchange fluctuations, are only capitalized up to the amount of interest that would have been generated by loan in national currency, with similar conditions of time. |
Derecognition of financial liabilities | 17.14) Derecognition of financial liabilities The Company derecognizes its financial liabilities if, and only if, the obligations of the Company are met, are cancelled or if they expire. |
Provisions | 17.15) Provisions Liability provisions represent a present legal obligation or an assumed obligation as a result of past events, when the use of economic resources is likely in order to settle the obligation and when the amount can be reasonably estimated. Provisions are not recognized for future operating losses. Provisions are measured at the present value of expenses expected to cover the related obligation, using a pretax rate that reflects the actual considerations of the value of money market over time and the specific risks inherent in the obligation. The increase in the provision over time is recognized as an interest expense. When there are similar obligations, the likelihood of the outflow of economic resources for settling those obligations is determined considering them as a whole. In these cases, the provision thereby estimated is recorded, provided the likelihood of the outflow of cash with respect to a specific item considered as a whole is remote. |
Deferred IT, and tax on dividends | 17.16) Deferred IT, and tax on dividends The expense for IT includes both the current tax and deferred taxes. Tax is recognized in the statement of income, except when it relates to items recognized directly in OCI or in stockholders’ equity in which case, the tax is also recognized in OCI items or directly in stockholders’ equity, respectively. Deferred IT were recorded based on the comprehensive method of liabilities, which consists of recognizing deferred taxes on all temporary differences between the book and tax values of assets and liabilities to be materialized in the future at the enacted or substantially enacted tax rates in effect at the consolidated financial statement date. (See Note 13.) Deferred tax assets are only recognized if future tax profits are expected to be incurred against which temporary differences can be offset. The balances of deferred IT assets and liabilities are offset when there is an enforceable legal right for each entity to offset current tax assets against current tax liabilities and when deferred IT assets and liabilities are related to the same tax authority. Current IT is made up of IT, which is recorded under income for the year in which they are incurred. The tax is based on taxable income. To determine the IT the applicable rate in Mexico for 2020, 2021 and 2022 was 30%, the applicable rate for Airplan, according to Colombian legislation for 2020, 2021 and 2022 was 32%, 31% and 35% respectively, and the applicable rate for Aerostar, in accordance with Puerto Rico law, for 2020, 2021 and 2022 was 10%. Deferred tax assets and liabilities from the temporary differences arising from the investments in subsidiaries and joint businesses are recognized, except when the Company controls the reversal period for such temporary differences and it is likely that the temporary differences will not be reverted in a near future. Aerostar and Airplan hold undistributed profits which, if paid as dividends, would require the beneficiaries to pay tax. There is a temporary taxable difference, but no deferred tax liability is recognized, as the Company as the controlling entity is capable of deciding the point at which the subsidiary should make distributions. It is not expected to distribute those benefits in the foreseeable future, because both companies would first have to pay off their bank or private debts before they can declare dividends. |
Employee benefits | 17.17) Employee benefits The present value of the defined benefit obligations is determined by discounting the estimated future cash flows using the interest rates of high-quality corporate bonds denominated in the same currency in which the benefits will be paid and that have expiration terms that are approximate the terms of the pension obligation. In those countries where there is no deep market for such bonds, interest rates on government bonds are used. The net interest cost is calculated by applying the discount rate to the net balance of the defined benefit obligation and the fair value of the plan assets. This cost is included in the expense for employee benefits in the consolidated statement of income. Gains and losses for remeasurements derived from experience adjustments and changes in actuarial assumptions are recognized in the period in which they occur directly in OCI. They are included in the accumulated results in the statement of changes in stockholders' equity and in the consolidated statement of financial position. Variations in the present value of the defined benefit obligation that result from modifications or reductions of the plan are recognized immediately in results as past service costs. Termination benefits Termination benefits are paid when the employment relationship ends before the normal retirement date or when an employee voluntarily accepts the termination in exchange for these benefits. The Company recognizes termination benefits on the first of the following dates: (a) it is committed to terminate the employment relationship of employees in accordance with a detailed formal plan without having the possibility of evading its obligation, and (b) when the entity recognizes restructuring costs in accordance with IAS 37 and involves payment of termination benefits. In the case of an offer that promotes voluntary termination, termination benefits are valued based on the expected number of employees accepting the offer. Benefits that mature 12 months after the reporting date are discounted to their present value. The charge to income for the years ended December 31, 2021 and 2022 was Ps.2,866 and Ps.4,343, respectively. See Note 4. Short-term obligations Salaries for wages and salaries, including non-monetary benefits and accumulated sick leave, which are expected to be fully settled within 12 months after the end of the period in which the employees provide the related service, are recognized in connection with the service of employees until the end of the period and are measured by the amounts that are expected to be paid when the liabilities are settled. Liabilities are presented as current obligations for employee benefits in the consolidated statement of financial position. Share in profits The Group recognizes a liability and an expense for profit sharing based on a calculation that takes into account the profit attributable to the shareholders of the Company after certain adjustments. The Group recognizes a provision when it is contractually bound or when there is a past practice that generates an implicit obligation. |
Stockholders' equity | 17.18) Stockholders’ equity Capital stock, capital reserves and retained earnings are expressed at their historical cost. The capital reserves consist of the legal reserve, the reserve to repurchase own shares. |
Basic and diluted earnings per share | 17.19) Basic and diluted earnings per share Basic earnings per share were computed by dividing the net income for the year attributable to controlling interest (Ps.1,972,319 in 2020, Ps.5,983,747 in 2021 and Ps.9,986,548 in 2022) by the weighted average number of shares outstanding in 2020, 2021 and 2022. The number of shares outstanding for the periods from January 1 to December 31, 2020, 2021 and 2022 were 300 million. The basic ordinary earnings share for the year ended as of December 31, 2020, 2021 and 2022 was Ps.6.57, Ps.19.95 and Ps.33.29, respectively, are expressed in pesos, the diluted earnings per share is equal to the basic earnings per share. |
Financial reporting by segments | 17.20) Financial reporting by segments The segment financial information is presented in a manner that is consistent with the internal reporting provided to the General Directors in charge of making operational decisions, allocating resources and assessing the performance of the operating segments. The Company determines and evaluates the performance of its airports on an individual basis, after allocating personnel costs and other costs of services, which are incurred by a Company’s subsidiary which hires some of the Company’s employees. The performance of these services is determined and assessed separately by management. All the airports provide substantially the same services to their clients. The performance of (Services) is determined and evaluated separately by management. All airports provide substantially the same services to their customers. Note 2 includes the financial information related to the Company’s different segments, which includes Cancún Airport and subsidiaries (Cancún Airport), showing separately, due to their importance, Aerostar, Airplan, Villahermosa Airport (Villahermosa), Mérida Airport (Mérida) and Servicios Aeroportuarios del Sureste (Servicios). The financial information of the remaining six airports, of RH Asur, S. A. de C. V. and of the holding company (including the investment of the Company in its subsidiaries) has been grouped and is included in the “Others” column. The elimination of the investment of the Company in its subsidiaries is included in the “Consolidation Adjustments” column. Resources are assigned to the segments based on the significance of each one to the Company’s operations. Transactions among operating segments are recorded at their fair value. |
Revenue recognition | 17.21) Revenue recognition The accounting policies for the Company's revenue from contracts with customers are explained in Note 3. |
Government grants | 17.22) Government grants Government grants are recognized at their fair value when there is reasonable guarantee that the grant will be received, and the Company will comply with all the conditions set. Government grants associated with income are presented in the period’s income/loss as deductions of the related expenses. Grants received as compensation for expenses or to provide immediate financial support to the entity, with no related subsequent costs, are recognized in income/loss for the period in which they become payable. Government grants associated with assets are presented in the Statement of Financial Position as deductions of the carrying amount of related assets. They are recognized in income/loss throughout the life of the asset, which is amortized as a reduction of the related expense that the grant intends to offset. Government grants will be recognized in income/loss on a systematic basis throughout the periods in which the entity recognizes the related costs that the grant intends to offset as expenses. Note 4.1 discloses information on how the Company records government grants received as recovery of expenses. |
Segment Information_ (Tables)
Segment Information: (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Segment information: | |
Schedule of information of operating segments | Year ended on Holding & Consolidation December 31, 2020 Cancún Aerostar (*) Airplan Mérida Villahermosa Services Other adjustments Total Revenue from contracts with clients: Aeronautical revenue Ps. 2,218,230 Ps. 1,808,102 Ps. 488,981 Ps. 281,659 Ps. 132,751 Ps. 482,695 Ps. 5,412,418 Non-aeronautical revenue 2,252,157 740,450 296,961 90,431 42,103 Ps. 1,265,920 133,496 Ps. (1,266,291) 3,555,227 Revenue for construction services 1,855,747 353,686 6,918 728,718 154,155 557,862 3,657,086 Operating profit 2,079,965 923,518 (242,234) 95,167 40,020 327,631 52,109 3,276,176 Non-current assets 18,899,582 20,229,990 5,604,037 2,426,454 1,097,864 33,164,914 5,029,721 (33,757,400) 52,695,162 Total assets 22,406,388 21,630,906 6,090,371 2,913,304 1,345,826 33,834,595 5,947,221 (33,757,400) 60,411,211 Total liabilities 5,557,692 8,934,439 3,826,600 49,910 78,198 184,800 86,366 18,718,005 Improvements to assets under concession and acquisition of furniture and equipment in the period 1,720,381 400,500 6,918 570,940 118,736 511,085 3,328,560 Amortization and depreciation (487,333) (746,524) (461,563) (49,427) (31,897) (6,976) (151,046) (1,934,766) Revenue recognized At point in time: Aeronautical revenue 1,888,076 953,715 459,655 254,210 120,688 439,320 4,115,664 Non-aeronautical revenue 319,367 142,135 461,502 Total Ps. 2,207,443 Ps. 1,095,850 Ps. 459,655 Ps. 254,210 Ps. 120,688 Ps. 439,320 Ps. 4,577,166 Over a period time: Aeronautical revenue 330,154 854,387 29,326 27,449 12,063 43,375 1,296,754 Non-aeronautical revenue 1,932,790 598,315 296,961 90,431 42,103 1,265,920 133,496 (1,266,291) 3,093,725 Revenue for construction services 1,855,747 353,686 6,918 728,718 154,155 557,862 3,657,086 Total Ps. 4,118,691 Ps. 1,806,388 Ps. 333,205 Ps. 846,598 Ps. 208,321 Ps. 1,265,920 Ps. 734,733 Ps. (1,266,291) Ps. 8,047,565 (*) Subsidiary located in Puerto Rico. (**) Subsidiary located in Colombia. Year ended on Holding & Consolidation December 31, 2021 Cancún Aerostar (*) Airplan Mérida Villahermosa Services Other adjustments Total Revenue from contracts with clients: Aeronautical revenue Ps. 4,644,489 Ps. 2,027,188 Ps. 1,174,762 Ps. 467,065 Ps. 211,238 Ps. 883,857 Ps. 9,408,599 Non-aeronautical revenue 4,038,222 1,394,346 450,604 129,797 49,410 Ps. 1,191,810 167,517 Ps. (1,191,810) 6,229,896 Revenue for construction services 1,210,514 231,301 6,261 795,208 123,936 778,946 3,146,166 Operating profit 5,406,719 1,526,642 430,817 247,576 95,027 546,457 404,436 8,657,674 Non-current assets 20,142,279 20,330,478 4,526,009 3,220,164 1,246,279 36,791,385 5,754,925 (37,842,891) 54,168,628 Total assets 26,169,097 22,988,431 5,556,098 3,562,271 1,456,118 37,190,823 6,750,781 (37,842,891) 65,830,728 Total liabilities 7,480,794 8,876,260 3,255,579 30,724 101,020 70,852 245,443 20,060,672 Improvements to assets under concession and acquisition of furniture and equipment in the period 1,535,850 230,344 4,537 899,603 179,968 826,417 3,676,719 Amortization and depreciation (546,795) (740,075) (445,236) (53,733) (35,601) (1,677) (170,225) (1,993,342) Revenue recognized At point in time: Aeronautical revenue 4,009,238 1,588,161 1,142,604 429,884 191,766 814,057 8,175,710 Non-aeronautical revenue 687,390 316,942 1,004,332 Total Ps. 4,696,628 Ps. 1,905,103 Ps. 1,142,604 Ps. 429,884 Ps. 191,766 Ps. 814,057 Ps. 9,180,042 Over a period time: Aeronautical revenue 635,251 439,027 32,158 37,181 19,472 69,800 1,232,889 Non-aeronautical revenue 3,350,832 1,077,404 450,604 129,797 49,410 1,191,810 167,517 (1,191,810) 5,225,564 Revenue for construction services 1,210,514 231,301 6,261 795,208 123,936 778,946 3,146,166 Total Ps. 5,196,597 Ps. 1,747,732 Ps. 489,023 Ps. 962,186 Ps. 192,818 Ps. 1,191,810 Ps. 1,016,263 Ps. (1,191,810) Ps. 9,604,619 (*) Subsidiary located in Puerto Rico. (**) Subsidiary located in Colombia. Year ended on Holding & Consolidation December 31, 2022 Cancún Aerostar (*) Airplan Mérida Villahermosa Services Other adjustments Total Revenue from contracts with clients: Aeronautical revenue Ps. 7,515,691 Ps. 2,100,276 Ps. 2,027,061 Ps. 799,661 Ps. 316,367 Ps. 1,313,461 Ps. 14,072,517 Non-aeronautical revenue 5,854,262 1,598,601 652,280 168,802 64,553 Ps. 872,592 210,173 Ps. (872,592) 8,548,671 Revenue for construction services 910,812 411,152 12,922 553,361 105,690 698,757 2,692,694 Operating profit 9,022,518 2,149,776 1,233,502 557,128 193,390 806,419 735,416 14,698,149 Non-current assets 20,397,710 19,071,914 3,396,813 3,593,843 1,250,325 40,386,563 6,217,622 (41,475,439) 52,839,351 Total assets 30,024,926 23,292,857 4,924,236 4,043,180 1,497,541 41,149,776 7,462,444 (41,475,439) 70,919,521 Total liabilities 6,713,813 12,177,362 2,457,168 81,660 125,739 161,001 187,171 21,903,914 Improvements to assets under concession and acquisition of furniture and equipment in the period 1,062,108 440,627 12,695 476,164 50,654 733,525 2,775,773 Amortization and depreciation (610,864) (724,294) (415,829) (70,397) (38,317) 906 (200,442) (2,059,237) Revenue recognized At point in time: Aeronautical revenue 6,628,035 1,411,532 1,967,114 745,695 290,593 1,214,455 12,257,424 Non-aeronautical revenue 1,085,461 337,190 1,422,651 Total Ps. 7,713,496 Ps. 1,748,722 Ps. 1,967,114 Ps. 745,695 Ps. 290,593 Ps. 1,214,455 Ps. 13,680,075 Over a period time: Aeronautical revenue 887,656 688,744 59,947 53,966 25,774 99,006 1,815,093 Non-aeronautical revenue 4,768,801 1,261,411 652,280 168,802 64,553 872,592 210,173 (872,592) 7,126,020 Revenue for construction services 910,812 411,152 12,922 553,361 105,690 698,757 2,692,694 Total Ps. 6,567,269 Ps. 2,361,307 Ps. 725,149 Ps. 776,129 Ps. 196,017 Ps. 872,592 Ps. 1,007,936 Ps. (872,592) Ps. 11,633,807 (*) Subsidiary located in Puerto Rico. (**) Subsidiary located in Colombia. |
Revenue from Contracts with C_2
Revenue from Contracts with Customers: (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Revenue from Contracts with Customers: | |
Schedule of under unregulated services with income arising from contracts with clients | Year ended of December 31, 2020 2021 2022 Regulated services: Airport services for revenue from contracts with clients (*): Passengers fees Ps. 3,476,804 Ps. 6,767,394 Ps. 10,795,615 Landing fees 983,173 1,075,198 1,277,251 Platform 395,432 592,671 751,464 Seurity services 46,553 88,758 134,364 Baggage inspection fees 140,502 251,956 353,638 Passengers walkway 333,134 562,192 644,356 Passengers documentation counters 9,383 20,187 29,841 Other airport services 252,777 336,284 499,299 Ps. 5,637,758 Ps. 9,694,640 Ps. 14,485,828 Non regulated services: Non regulated services for revenue from contracts with customers: Retail stores Ps. 461,502 Ps. 1,004,332 Ps. 1,422,651 Access fees on non permanent ground transportation 29,967 59,625 82,857 Car parking and related Access fees 171,193 316,356 416,767 Other services 122,751 187,273 280,671 785,413 1,567,586 2,202,946 Commercial services 2,544,474 4,376,269 5,932,414 Total non regulated services (**) 3,329,887 5,943,855 8,135,360 Construction services 3,657,086 3,146,166 2,692,694 Total Ps. 12,624,731 Ps. 18,784,661 Ps. 25,313,882 (*) For 2020, 2021 and 2022, this amount includes Mexico regulated income of Ps.3,340,674, Ps.6,492,691 and Ps.10,358,492, respectively, Aerostar regulated income of Ps.1,808,102, Ps.2,027,188 and Ps.2,100,275, respectively, Airplan regulated income of Ps.488,982, Ps.1,174,761 and Ps.2,027,061, respectively. (**) This line item in the consolidated statement of income (non-aeronautical services) includes complementary and airport services totaling Ps.225,340, Ps.286,042 and Ps.413,322 for the 2020, 2021 and 2022 periods, respectively. |
Schedule of under non-regulated services with revenue arising from contracts with clients | Year ended of December 31, 2020 2021 2022 Commercial revenues: Duty free shops Ps. 991,833 Ps. 1,746,097 Ps. 2,495,826 Food and beverage 449,340 823,883 1,243,576 Advertising revenues 92,683 129,589 151,741 Car rental companies 485,725 953,085 1,110,926 Banking and currency exchange servcies 72,563 107,228 102,783 Teleservices 15,174 17,539 15,538 Ground transportations 49,721 95,690 131,653 Other services 387,435 503,158 680,371 Total commercial revenues Ps. 2,544,474 Ps. 4,376,269 Ps. 5,932,414 |
Schedule of domestic and international passenger traffic | The following table sets the domestic and international passenger traffic, in thousands, for the years, 2020, 2021 and 2022: Year ended of December 31, 2020 2021 2022 Domestic passenger traffic: Mexico 9,246 15,057 18,701 Puerto Rico 4,548 9,139 9,404 Colombia 3,625 8,984 13,718 Total domestic passengers 17,419 33,180 41,823 International passenger traffic: Mexico 7,283 14,081 20,823 Puerto Rico 298 545 907 Colombia 590 1,546 2,788 Total international passengers 8,171 16,172 24,518 Total passengers 25,590 49,352 66,341 |
Schedule of effects of the decrease in passenger traffic as a result of COVID-19 on revenue by country are shown below, without considering construction revenue | Year ended of December 31, % Change 2022 % Change 2022 2020 2021 2022 compared to 2020 compared to 2021 Aeronautical revenue Mexico Ps. 3,115,335 Ps. 6,206,649 Ps. 9,945,180 219.23 60.23 Puerto Rico 1,808,102 2,027,188 2,100,276 16.16 3.61 Colombia 488,981 1,174,762 2,027,061 314.55 72.55 Total aeronautical revenue Ps. 5,412,418 Ps. 9,408,599 Ps. 14,072,517 160.00 49.57 Non-aeronautical revenue Mexico 2,517,816 4,384,946 6,297,790 150.13 43.62 Puerto Rico 740,450 1,394,346 1,598,601 115.90 14.65 Colombia 296,961 450,604 652,280 119.65 44.76 Total non-aeronautical revenue Ps. 3,555,227 Ps. 6,229,896 Ps. 8,548,671 140.45 37.22 Total without construction revenue Ps. 8,967,645 Ps. 15,638,495 Ps. 22,621,188 152.25 44.65 |
Schedule of commercial contracts of minimum rent | For the years that will end December 31: Year ended December 31, 2020 2021 2022 2021 Ps. 2,515,572 2022 2,315,111 Ps. 3,684,803 2023 2,184,496 3,415,663 Ps. 4,531,807 2024 1,943,444 2,962,391 4,070,098 2025 1,857,885 2,821,799 3,869,058 2026 a 2030 2,380,113 3,744,757 6,042,832 Total Ps. 13,196,621 Ps. 16,629,413 Ps. 18,513,795 |
Schedule of other income | In 2022, the line of other income is made up of operations from previous years which were in dispute and had favorable resolutions by the authorities in 2022 as follows: Year ended December 31, 2022 Other income: Income recovery from the fuel distribution fee at the LMM Airport (Note 15 i) Ps 300,384 Income recovery due to regularization of car rental companies 45,848 Ps 346,232 |
Costs and expenses by nature_ (
Costs and expenses by nature: (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Costs and expenses by nature: | |
Schedule of general and administrative expense | Year ended December 31, 2020 2021 2022 Short term benefits Ps. 1,039,883 Ps. 1,167,302 Ps. 1,235,765 Electric power 382,026 419,909 544,397 Maintenance and conservation 447,884 611,274 596,043 Professional fees 251,621 225,321 227,817 Insurance and bonds 127,750 227,342 151,041 Surveillance services 275,206 294,807 329,414 Cleaning services 207,599 209,447 263,177 Technical assistance (Note 14.4) 175,615 391,698 643,891 Right of use of assets under concession (DUAC) (1) 535,379 948,062 1,424,066 Amortization and depreciation of intangible assets, furniture and equipment 1,934,766 1,993,342 2,059,237 Consumption of commercial items 169,298 333,192 489,244 Construction services (Note 3.1.3) 3,657,086 3,146,166 2,692,694 Termination benefits (Note 17.17) 2,382 2,866 4,343 Employees’ statutory profit sharing 3,115 84,670 104,731 Impairment of accounts receivable (Note 6) 154,417 9,331 9,681 Other 143,409 62,258 186,424 Total aeronautical and non-aeronautical services costs, costs of construction services and administrative expenses Ps. 9,507,436 Ps. 10,126,987 Ps. 10,961,965 (1) As of December 31, 2020, 2021 and 2022, respectively, Ps.254,337, Ps.476,536 and Ps.733,168, respectively, correspond to the consideration paid for the concessions in Mexico, equivalent to 5% of the gross profits of each concession. Ps.149,602, Ps.308,638 and Ps.504,953 correspond to the consideration of the Airplan concession equivalent to 19% of gross profits. Ps.131,440, Ps.162,888 and Ps.185,945, for the consideration of the Aerostar concession at 5% of the airport’s gross profits. |
Cash and cash equivalents_ (Tab
Cash and cash equivalents: (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Cash and cash equivalents: | |
Schedule of cash and cash equivalents | December 31, 2021 2022 Cash held at banks Ps. 6,589,294 Ps. 7,667,651 Short term investments 2,180,768 5,507,340 Total cash and cash equivalents Ps. 8,770,062 Ps. 13,174,991 |
Accounts receivable - Net_ (Tab
Accounts receivable - Net: (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Accounts receivable - Net: | |
Schedule of accounts receivable - net | December 31, 2021 2022 Clients Ps. 2,191,439 Ps. 2,843,870 Less: impairment provision (317,664) (301,947) 1,873,775 2,541,923 Notes receivable from clients 4,463 — Total accounts receivable Ps. 1,878,238 Ps. 2,541,923 |
Schedule of maturity analysis of past due accounts receivable and movements in impairment provision | Provision for impairment at January 1, 2021 Ps. 346,183 Mexico's increase 9,331 Application of Aerostar's estimate (36,275) Application of Airplan's estimate (1,575) Provision for impairment at December 31, 2021 Ps. 317,664 Mexico's increase Ps. 5,707 Application of Aerostar's estimate (7,997) Airplan 's increase 3,974 Application of Airplan's estimate (17,401) Provision for impairment at December 31, 2022 Ps. 301,947 |
Schedule of provision for losses | Due to More than expire 1 to 90 91 to 180 181 to 365 365 Expected loss rate 2021: Mexico 0.00 % 0.02 % 19.20 % 100.00 % 100.00 % Aerostar 5.40 % 5.10 % 43.70 % 87.50 % 100.00 % Airplan 0.83 % 0.83 % 0.83 % 100.00 % 100.00 % Due to More Total estimate expire 1 to 90 91 to 180 181 to 365 than 365 12/31/2020 At December 31, 2021 Mexico’s accounts receivables Ps. 1,487,553 Ps. 44,571 Ps. 6,429 Ps. 78,432 Ps. 129,056 — Mexico’s provision impairment 9 1,234 78,432 129,056 Ps. 208,731 Aerostar’s account receivables 140,588 98,868 63,952 772 10,734 — Aerostar’s provision impairment 7,657 5,042 27,947 676 10,734 52,056 Airplan’s accounts receivables — 82,638 561 22,807 24,478 — Airplan’s provision impairment — 9,030 561 22,807 24,478 56,877 Total estimate Ps. 317,664 Due to More than expire 1 to 90 91 to 180 181 to 365 365 Expected loss rate 2022: Mexico 0.00 % 0.02 % 19.20 % 100.00 % 100.00 % Aerostar 5.40 % 5.10 % 43.70 % 87.50 % 100.00 % Airplan 0.83 % 0.83 % 0.83 % 100.00 % 100.00 % Due to More Total estimate expire 1 to 90 91 to 180 181 to 365 than 365 12/31/2021 At December 31, 2022 Mexico’s accounts receivables Ps. 1,917,501 Ps. 66,618 Ps. 10,212 Ps. 81,836 Ps. 129,056 — Mexico’s provision impairment 1,586 1,960 81,836 129,056 Ps. 214,438 Aerostar’s account receivables 441,967 52,014 1,118 264 50 — Aerostar’s provision impairment 40,637 2,653 489 230 50 44,059 Airplan’s accounts receivables 64,761 36,943 183 16,869 24,478 — Airplan’s provision impairment 4,027 183 14,762 24,478 43,450 Total estimate Ps. 301,947 |
Land, furniture and equipment_2
Land, furniture and equipment - Net: (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Land, furniture and equipment - Net: | |
Schedule of land, furniture and equipment, net | Foreign currency 1/1/2021 translation Additions Disposals transfers 12/31/2021 Land Ps. 302,323 Ps. (35) Ps. (302,049) Ps. 239 Furniture & equipment 117,062 131 Ps. 6,201 (2,029) 121,365 Machinery & equipment 143,618 3,916 11,515 159,049 Computer equipment 71,571 2,303 12,806 86,680 Transport equipment 33,269 917 1,882 36,068 Improvements to leased premises 63,450 1,943 19,268 (1,173) 83,488 Accumulated depreciation (226,908) 757 (78,053) 1,905 (302,299) Ps. 504,385 Ps. 9,932 Ps. (26,381) Ps. (303,346) Ps. 184,590 Foreign currency 1/1/2022 translation Additions Disposals transfers 12/31/2022 Land Ps. 239 Ps. (46) Ps. 193 Furniture & equipment 121,365 (1,051) Ps. 14,578 Ps. (3,133) 131,759 Machinery & equipment 159,049 (7,345) 9,082 160,786 Computer equipment 86,680 (4,754) 16,845 98,771 Transport equipment 36,068 (1,931) 5,292 39,429 Improvements to leased premises 83,488 (3,500) 13,012 93,000 Accumulated depreciation (302,299) 13,703 (64,338) (352,934) Ps. 184,590 Ps. (4,924) Ps. (5,529) Ps. (3,133) Ps. 171,004 |
Intangible assets, airport co_2
Intangible assets, airport concessions and goodwill - Net: (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Intangible assets, airport concessions and goodwill - Net: | |
Schedule of movements of intangible assets of airport concessions | Foreign currency 1/1/2021 translation Additions (**) Transfers 12/31/2021 Concessions (Regulated Activity) Ps. 52,685,526 Ps. (284,573) Ps. 219,336 Ps. 2,113,556 Ps. 54,733,845 Contracts assets 3,704,065 8,403 3,146,143 (2,113,556) 4,745,055 Contractor advance 431,805 (104) 278,496 710,197 Licences and ODC 364,727 27,685 392,412 Commercial Right’s (Unregulated Activity) 6,490,236 182,071 6,672,307 Goodwill 2,567,365 35,877 2,603,242 Accumulated amortization (14,061,413) 92,993 (1,915,289) (15,883,709) Ps. 52,182,311 Ps. 34,667 Ps. 1,756,371 Ps — Ps. 53,973,349 Foreign currency 1/1/2022 translation Additions (*) Transfers 12/31/2022 Concessions (Regulated Activity) Ps. 54,733,845 Ps. (1,850,332) Ps. 134,622 Ps. 3,424,706 Ps. 56,442,841 Contracts assets 4,745,055 (19,605) 2,692,694 (3,424,706) 3,993,438 Contractor advance 710,197 (67) (332,033) 378,097 Licences and ODC 392,412 27,027 419,439 Commercial Right’s (Unregulated Activity) 6,672,307 (324,598) 6,347,709 Goodwill 2,603,242 (133,864) 2,469,378 Accumulated amortization (15,883,709) 485,787 (1,994,899) (17,392,821) Ps. 53,973,349 Ps. (1,842,679) Ps. 527,411 Ps. — Ps. 52,658,081 (*) Within the most significant additions in 2021 are: In Mexico a) the continuation of the expansion works of the terminal building, commercial platform and roads at the Merida Airport; b) the continuation of the expansion works of terminal 3 and expansion works of terminal 4, expansion of taxiways, expansion of platforms and roads at Cancun Airport, c) New terminal in Tapachula Airport. At Aerostar, the most significant addition is the expansion works of Terminal D at the LMM Airport. (**) Within the most significant additions in 2022 are: In Mexico a) the continuation of the expansion works of the terminal building, commercial platform and roads at the Merida Airport; b) the continuation of the expansion works of terminal 3 and expansion works of terminal 4, expansion of taxiways, expansion of platforms and roads at Cancun Airport. At Aerostar, the most significant addition is the expansion works of Terminal D at the LMM Airport. |
Schedule of allocation of goodwill for each operating segment | December 31, 2021 2022 Aerostar Ps. 997,644 Ps. 930,231 Airplan 1,605,598 1,539,147 Ps. 2,603,242 Ps. 2,469,378 |
Schedule of expected probability weighted cash flows | 2021 2022 Airplan Aerostar Airplan Aerostar Negative scenario 20.00 % 15.00 % 15.00 % 15.00 % Base scenario 70.00 % 75.00 % 75.00 % 75.00 % Positive scenario 10.00 % 10.00 % 10.00 % 10.00 % 100.00 % 100.00 % 100.00 % 100.00 % |
Schedule of CGU with a significant amount of goodwill | 2021 Airplan Aerostar Discount rate 8.57 % 9.26 % Operating costs and expenses annual average 3.00 % 3.00 % Passenger growth rate in the recovery period of each CGU 18.96 % — * Recovery period(years) 1 — * Average growth rate of passengers in the period after the recovery of passengers for each CGU 4.90 % 1.70 % Hierarchy level of the fair value of the recoverable of the CGU 3 3 * This CGU recovered its passenger levels during 2021, taking into account 2019. 2022 Airplan Aerostar Discount rate 15.31 % 10.21 % Operating costs and expenses annual average 4.00 % 3.90 % Passenger growth rate in the recovery period of each CGU — ** — Recovery period(years) — ** — Average growth rate of passengers in the period after the recovery of passengers for each CGU 4.79 % 2.50 % Hierarchy level of the fair value of the recoverable of the CGU 3 3 ** This CGU recovered its passenger levels during 2022, taking into account 2019. |
Accounts payable and accrued _2
Accounts payable and accrued expenses: (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Accounts payable and accrued expenses: | |
Schedule of accounts payable and accrued expenses | December 31, 2021 2022 Suppliers Ps. 290,687 Ps. 307,068 Taxes payable 311,847 574,311 Use rights of assets under concession 337,087 575,598 Accounts payable to related parties (Note 14.1) 127,901 169,696 Lease payable (Note 7.1) 24,510 23,547 Salaries payable 166,089 187,209 Sundry creditors for services provided 959,376 915,873 Accounts payable to contractors 271,462 61,202 Total Ps. 2,488,959 Ps. 2,814,504 |
Bank loans_ (Tables)
Bank loans: (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Bank loans: | |
Schedule of bank loans | Credit line used in foreign currency Credit line Principal Commissions and Term Fair Bank at 12/31/2021* used in pesos amortization in pesos interests - Net Short Long value Santander, S. A. Ps. 2,000,000 Ps. (2,000,000) Santander, S. A. 2,650,000 Ps. (10,716) Ps. 1,062 Ps. 2,638,222 Ps. 2,660,990 BBVA Bancomer, S. A. 2,000,000 (8,562) 5,902 1,985,536 2,019,432 BBVA Bancomer, S. A. Ps. 1,980,000 Ps. (1,980,000) Ps. Total México Ps. 8,630,000 Ps. (3,980,000) Ps. (19,278) Ps. 6,964 Ps. 4,623,758 Ps. 4,680,422 Banco Popular de Puerto Rico USD 10,000 Ps. 208,623 Ps. (208,623) Total Aerostar USD 10,000 Ps. 208,623 Ps. (208,623) Bancolombia, S. A. COP 111,750,000 Ps. 801,230 Ps. (68,086) Ps. 16,673 Ps. 74,704 Ps. 675,113 Ps. 560,472 Corpbanca Colombia, S. A. 75,990,000 545,168 (46,298) 11,718 50,191 460,397 381,121 Banco Davivienda, S. A. 67,049,985 480,881 (40,851) 10,081 44,471 405,640 336,283 Banco de Bogotá, S. A. 27,564,211 197,490 (16,794) 3,613 18,350 165,959 138,250 Banco de Occidente, S. A. 27,564,228 197,487 (16,794) 3,497 18,240 165,949 138,250 Banco Popular, S. A. 5,959,029 42,485 (3,631) (57) 3,755 35,041 29,892 Banco AV Villas, S. A. 5,960,000 42,759 (3,631) 937 3,954 36,110 29,892 Servicios Financieros, S. A. 5,960,000 42,490 (3,631) 23 3,843 35,039 29,892 Bancolombia, S. A. 8,128,400 40,995 (40,995) Total Airplan COP 335,925,853 Ps. 2,390,983 Ps. (240,711) Ps. 46,485 Ps. 217,508 Ps. 1,979,248 Ps. 1,644,052 Ps. 11,229,606 Ps. (4,429,334) Ps. 27,207 Ps. 224,472 Ps. 6,603,006 Ps. 6,324,474 * Foreign currency in thousands At December 31, 2022, the Company has used the total amount of these credit lines as shown below: Credit line used in foreign currency Credit line Principal Commissions and Term Fair Bank at 12/31/2022* used in pesos amortization in pesos interests - Net Short Long value Santander, S. A. Ps. 2,650,000 Ps. (650,000) Ps. (5,999) Ps. 1,326,362 Ps. 667,639 Ps. 2,098,793 BBVA Bancomer, S. A. 2,000,000 — (1,866) 160,455 1,837,679 2,061,906 Total México Ps. 4,650,000 Ps. (650,000) Ps. (7,865) Ps. 1,486,817 Ps. 2,505,318 Ps. 4,160,699 Bancolombia, S. A. COP 57,238,256 Ps. 602,121 Ps. (289,119) Ps. 8,922 Ps. 2,035 Ps. 319,889 Ps. 230,399 Corpbanca Colombia, S. A. 38,922,014 409,717 (196,601) 6,858 1,383 218,591 156,671 Banco Davivienda, S. A. 34,342,946 361,391 (173,471) 5,697 1,220 192,397 138,239 Banco de Bogotá, S. A. 14,118,353 148,402 (71,314) 1,864 501 78,451 56,830 Banco de Occidente, S. A. 14,118,362 148,400 (71,314) 1,859 501 78,444 56,830 Banco Popular, S. A. 3,052,194 31,909 (15,417) (97) 108 16,287 12,286 Banco AV Villas, S. A. 3,052,707 32,135 (15,420) 539 108 17,146 12,288 Servicios Financieros, S. A. 3,052,707 31,911 (15,420) (102) 108 16,281 12,288 Total Airplan COP 167,897,539 Ps. 1,765,986 Ps. (848,076) Ps. 25,540 Ps. 5,964 Ps. 937,486 Ps. 675,831 Ps. 6,415,986 Ps. (1,498,076) Ps. 17,675 Ps. 1,492,781 Ps. 3,442,804 Ps. 4,836,530 * Foreign currency in thousands Amount Entity (thousand of COP) Bancolombia, S. A. COP. 150,000,000 Corpbanca Colombia, S. A. 102,000,000 Banco Davivienda, S. A. 90,000,000 Banco de Bogotá, S. A. 37,000,000 Banco de Occidente, S. A. 37,000,000 Banco Popular, S. A. 8,000,000 Banco AV Villas, S. A. 8,000,000 Servicios Financieros, S. A. 8,000,000 COP. 440,000,000 Amount Financial entity (thousand COP) Bancolombia, S. A. COP. 51,136,744 Corpbanca Colombia, S. A. 34,772,986 Banco Davivienda, S. A. 30,682,039 Banco de Bogotá, S. A. 12,613,358 Banco de Occidente, S. A. 12,613,366 Banco Popular, S. A. 2,726,835 Banco AV Villas, S. A. 2,727,293 Servicios Financieros, S. A. 2,727,293 COP. 149,999,914 |
Short and long-term documents_
Short and long-term documents: (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Short and long-term documents: | |
Schedule of long-term debt | Performance 2.39 % Spread credit (bps) +336 Coupon 5.75 % Performance 6.75 % At December 31, 2021 the integration of the debt is shown as follows: Original debt Interest Credit line Principal amortization Interest Term Fair used in thousand USD in thousand USD in pesos in pesos in pesos Short Long value Bond $ 400,000 $ 11,102 Ps. 7,207,061 Ps. (220,961) Ps. (34,031) Ps. 353,672 Ps. 6,598,397 Ps. 7,619,720 At December 31, 2022 the integration of the debt is shown as follows: Original debt Interest Credit line Principal amortization Interest Term Fair used in thousand USD in thousand USD in pesos in pesos in pesos Short Long value Bond $ 400,000 $ 255 Ps. 6,602,407 Ps. (222,568) Ps. (58,185) Ps. 323,993 Ps. 5,997,661 Ps. 6,039,845 Bond 200,000 2,733 3,947,522 53,222 3,894,300 3,148,566 $ 600,000 $ 2,988 Ps. 10,549,929 Ps. (222,568) Ps. (58,185) Ps. 377,215 Ps. 9,891,961 Ps. 9,188,411 |
Stockholders' equity_ (Tables)
Stockholders' equity: (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Stockholders' equity: | |
Schedule of total share capital | Capital stock as of Total shares December 31, Description 2021 2022 2021 2022 “B” Series 277,050,000 277,050,000 Ps. 7,173,079 Ps. 7,173,079 “BB” Series 22,950,000 22,950,000 594,197 594,197 Total 300,000,000 300,000,000 Ps. 7,767,276 Ps. 7,767,276 |
Income tax incurred and defer_2
Income tax incurred and deferred: (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Income tax incurred and deferred: | |
Schedule of IT provision - Mexico | December 31, 2020 2021 2022 Mexico Current IT Ps. 631,471 Ps. 1,749,031 Ps. 2,961,187 Deferred IT 117,924 (128,254) (169,080) IT provision Mexico Ps. 749,395 Ps. 1,620,777 Ps. 2,792,107 Aerostar Current Income Tax Ps. (16) Ps. 886 Ps. 3,703 Deferred Income Tax 42,546 37,979 38,160 IT provision Aerostar Ps. 42,530 Ps. 38,865 Ps. 41,863 Airplan Current IT Ps. 2,916 Ps. 74,862 Ps. 377,437 Deferred IT (65,686) (5,997) 227,402 IT provision Airplan Ps. (62,770) Ps. 68,865 Ps. 604,839 Total IT provision Ps. 729,155 Ps. 1,728,507 Ps. 3,438,809 |
Schedule of reconciliation between statutory and effective income tax rates | December 31, 2020 2021 2022 Consolidated income before provision for IT Ps. 2,855,692 Ps. 8,126,035 Ps. 14,084,733 Plus (less): Net (loss) income before taxes of Airplan and Aerostar (65,672) (1,418,186) (3,183,555) Net (loss) income before taxes of subsidiaries in Mexico not subject to IT 4,337 (170,247) (140,921) Income before provisions for income taxes 2,794,357 6,537,602 10,760,257 Statutory IT rate 30 % 30 % 30 % IT that would result from applying the IT rate to book profit before income taxes 838,307 1,961,281 3,228,077 Non-deductible items and other permanent differences 10,496 7,853 14,133 Annual adjustment for tax inflation (18,958) (33,603) (82,517) Accounting disconnect inflation (80,450) (314,754) (367,587) Effect by difference in rate of IT Aerostar 42,530 38,865 41,863 Effect by difference in rate of IT Airplan (62,770) 68,865 604,839 IT provision Ps. 729,155 Ps. 1,728,507 Ps. 3,438,809 Effective IT rate 26 % 26 % 32 % |
Schedule of principal temporary differences with respect to deferred tax | Year ended December 31, 2021 2022 Deferred income tax asset: Temporary liabilities Ps. 57,201 Ps. 72,439 Fair value of long-term debt (Bank loan) 149,120 84,774 Allowance for doubtful accounts 57,962 60,775 264,283 217,988 Deferred income tax payable: Fixed and intangible assets (*) (3,111,403) (2,898,475) Temporary assets (197,104) (291,829) Amortization of expenses (408) (206) (3,308,915) (3,190,510) Deferred income tax liability - Net Ps. (3,044,632) Ps. (2,972,522) (*) |
Schedule of net movements of the deferred tax asset and liability | Impairment provision Foreign of loan Concession Currency portfolio Assets Conversion Others Total Balances as of January 1, 2021 Ps. (66,609) Ps. 3,101,892 Ps. 96,740 Ps. 33,122 Ps. 3,165,145 Conversion revaluation effect Airplan and Aerostar (61,018) 36,777 (24,241) Consolidated income statement: Airplan 11,390 28,642 (1,089) (44,940) (5,997) Aerostar 39,709 (1,730) 37,979 México (2,743) (91,743) (33,768) (128,254) 8,647 (23,392) (2,819) (78,708) (96,272) Balances as of December 31, 2021 Ps. (57,962) Ps. 3,078,500 Ps. 32,903 Ps. (8,809) Ps. 3,044,632 Conversion revaluation effect Airplan and Aerostar (117,978) (50,614) (168,592) Consolidated income statement: Airplan (1,123) 9,298 2,648 216,579 227,402 Aerostar 38,982 (822) 38,160 México (1,690) (145,056) (22,334) (169,080) (2,813) (96,776) 1,826 194,245 96,482 Balances as of December 31, 2022 Ps. (60,775) Ps. 2,981,724 Ps. (83,249) Ps. 134,822 Ps. 2,972,522 |
Schedule of Aerostar tax loss carry forwards | USD thousand Year of Year of loss Amount expiration 2013 Ps. 22,832 2023 2014 24,189 2024 2015 28,532 2025 2016 27,736 2026 2017 22,247 2027 2018 10,600 2028 2020 30,725 2030 Total Ps. 166,861 |
Schedule of Temporal differences not recognized | December 31, 2021 2022 Undistributed utilities Ps. 4,903,164 Ps. 4,911,412 Tax rate 30 % 30 % Deferred income tax liabilities unrecognized with the previous temporary differences Ps. 1,470,949 Ps. 1,473,424 |
Balances and transactions wit_2
Balances and transactions with related parties: (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Balances and transactions with related parties: | |
Schedule of balances receivable and payable | December 31, 2021 2022 Accounts payable and accumulated expenses (Note 9):(*) Inversiones y Técnicas Aeroportuarias, S. A. de C. V. (Shareholder/technical assistance) Ps. 127,446 Ps. 169,696 Lava Tap de Chiapas, S. A. de C. V. (Key management personnel/services) 455 Ps. 127,901 Ps. 169,696 (*) |
Schedule of transactions with related parties | December 31, 2020 2021 2022 Commercial income: Autobuses de Oriente, S. A. de C. V. (Stockholder) Ps. 7,968 Ps. 11,800 Ps. 15,899 Autobuses Golfo Pacífico, S. A. de C. V. (Stockholder) 4,862 6,468 7,616 Coordinados de México de Oriente, S. A. de C. V. (Stockholder) 164 162 189 Expenses: Technical assistance (Note 14.4) Ps. (175,615) Ps. (391,698) Ps. (643,891) Related parties: Administrative services Leasing Ps. (6,061) Ps. (5,863) Ps. (4,610) Cleaning services (11,848) (12,307) |
Schedule of compensation of key personnel | December 31, 2020 2021 2022 Short term salaries and other benefits paid to key personnel (Note 17.17) Ps. 137,272 Ps. 122,271 Ps. 166,922 Fees paid to the Board of Directors and Committees 8,571 8,144 8,671 |
Commitments and contingencies_
Commitments and contingencies: (Table) | 12 Months Ended |
Dec. 31, 2022 | |
Commitments and contingencies: | |
Schedule of future payments | Up to one year Ps. 7,472 Between one and three years 9,963 Total Ps. 17,435 |
Summary of the main accountin_3
Summary of the main accounting policies: (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Summary of the main accounting policies: | |
Schedule of consolidated subsidiaries | Shareholding percentage (%) Main activity Aeropuerto de Cancún, S. A. de C. V. 100 % Airport services Aeropuerto de Cozumel, S. A. de C. V. 100 % Airport services Aeropuerto de Mérida, S. A. de C. V. 100 % Airport services Aeropuerto de Huatulco, S. A. de C. V. 100 % Airport services Aeropuerto de Oaxaca, S. A. de C. V. 100 % Airport services Aeropuerto de Veracruz, S. A. de C. V. 100 % Airport services Aeropuerto de Villahermosa, S. A. de C. V. 100 % Airport services Aeropuerto de Tapachula, S. A. de C. V. 100 % Airport services Aeropuerto de Minatitlán, S. A. de C. V. 100 % Airport services Cancun Airport Services, S. A. de C. V. (*) 100 % Airport services Aerostar Airport Holdings, LLC 60 % Airport services Sociedad Operadora de Aeropuertos Centro Norte, S.A. 100 % Airport services RH Asur, S. A. de C. V. 100 % Administrative services Servicios Aeroportuarios del Sureste, S. A. de C. V. 100 % Administrative services Asur FBO, S. A. de C. V. (*) 100 % Administrative services Caribbean Logistics, S. A. de C. V. (*) 100 % Cargo services Cargo RF, S. A. de C. V. (*) 100 % Cargo services (*) |
Schedule of condensed financial information of Aerostar | As of December 31, 2020, 2021 and 2022, the condensed financial information of Aerostar, where there is a significant non-controlling interest, is presented as follows: December, 31 2020 2021 2022 Condensed statement of financial position Cash and cash equivalents Ps. 804,634 Ps. 2,295,087 Ps. 2,334,403 Restricted cash 5,055 123,081 1,272,106 Other current assets 566,031 183,284 528,297 Total current assets 1,375,720 2,601,452 4,134,806 Financial liabilities: Current liabilities (606,433) (804,548) (1,184,023) Working capital 769,287 1,796,904 2,950,783 Land, furniture and equipment 151,971 126,494 115,798 Intangible assets, airport concessions - Net 13,535,370 13,656,912 12,920,453 Other long term assets 32,578 64,442 90,777 Long term debt (7,171,278) (6,952,068) (9,891,961) Accounts payable to the Company (104,065) Other long term liabilities (19,864) (19,378) (18,265) Deferred income tax - Net (448,829) (518,578) (547,480) Shareholders’ equity Ps. 6,745,170 Ps. 8,154,728 Ps. 5,620,105 Year ended December, 31 2020 2021 2022 Condensed statements of comprehensive income Revenue Ps. 2,902,238 Ps. 3,652,835 Ps. 4,110,028 Operating cost and expenses (1,956,081) (1,939,555) (2,146,680) Other income 158,906 346,232 Comprehensive financial cost - Net (495,443) (453,326) (459,471) Net income tax (60,684) (57,529) (41,863) Income tax provision 548,936 1,202,425 1,808,246 Foreign currency translation (301,695) (207,132) (95,881) Total comprehensive income Ps. 247,241 Ps. 995,293 Ps. 1,712,365 |
Schedule or useful lives land, furniture and equipment | December 31, 2021 2022 Furniture equipment 10 to 20 % 10 to 20 % Machinery 10 to 20 % 10 to 20 % Computer equipment 20 to 33 % 20 to 33 % Transportation equipment 20 to 25 % 20 to 25 % Improvements to leased premises 10 % 10 % |
Schedule of useful lives licenses and commercial direct operation | Licenses Mexico 26 years ODC Mexico 26 years Commercial Rights of Aerostar 30 years Commercial Rights of Airplan 10 years |
Financial risk management_ (Tab
Financial risk management: (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Financial risk management: | |
Schedule of exchange rate risk | December 31, 2021 2022 Asset Ps. 124,656 Ps. 372,991 Liability (7,580) (5,520) Net Monetary Assets Ps. 117,076 Ps. 367,471 |
Schedule of liquidity position | Loans and Loans and Cash and Short - term Long- term Total Loans December 31, 2021 equivalents Debt Debt and Debt Mexico Ps. 5,700,314 Ps. 6,964 Ps. 4,623,758 Ps. 4,630,722 Aerostar 2,295,087 353,672 6,598,397 6,952,069 Airplan 774,661 217,508 1,979,248 2,196,756 Total Ps. 8,770,062 Ps. 578,144 Ps. 13,201,403 Ps. 13,779,547 Loans and Loans and Cash and Short - term Long- term Total Loans December 31, 2022 equivalents Debt Debt and Debt Mexico Ps. 9,573,039 Ps. 1,486,817 Ps. 2,505,318 Ps. 3,992,135 Aerostar 2,334,403 377,215 9,891,961 10,269,176 Airplan 1,267,549 5,964 937,486 943,450 Total Ps. 13,174,991 Ps. 1,869,996 Ps. 13,334,765 Ps. 15,204,761 |
Schedule of liquidity risk | Under Between 3 months Between 1 Between 2 and At December 31, 2021 3 months and one year and 2 years 5 years Bank loans and interest Ps. 13,660 Ps. 210,812 Ps. 3,945,092 Ps. 2,305,320 Long term debt 114,009 239,663 1,512,848 5,696,815 Suppliers 290,689 Accounts payable and accrued expenses 1,383,249 At December 31, 2022 Bank loans and interest Ps. 637,733 Ps. 944,235 Ps. 1,354,415 Ps. 1,900,147 Long term debt 158,242 280,166 973,931 3,477,822 Suppliers 307,068 Accounts payable and accrued expenses 1,170,318 |
Schedule of short term liquidity | December 31, 2021 2022 Current assets Ps. 11,662,100 Ps. 18,080,170 Current liabilities 3,786,398 5,563,973 Short term position (liquidity) Ps. 7,875,702 Ps. 12,516,197 |
Consolidated statements of ca_3
Consolidated statements of cash flows: (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Consolidated statements of cash flows: | |
Schedule of analysis of net debt and movements in net debt | Long - term debt Bank Loans 2020 2021 2022 2020 2021 2022 Short-term debt (Note 11) Ps. 330,235 Ps. 353,672 Ps. 377,215 Short-term bank loans (Note 10) Ps. 808,515 Ps. 224,472 Ps. 1,492,781 Long-term bank loans (Note 10) 6,119,655 6,603,006 3,442,804 Long-term debt (Note 11) 6,641,941 6,598,397 9,891,961 Balances at December 31 Ps. 6,972,176 Ps. 6,952,069 Ps. 10,269,176 Ps. 6,928,170 Ps. 6,827,478 Ps. 4,935,585 Balances at January 1 of the debt-net Ps. 6,799,941 Ps. 6,972,176 Ps. 6,952,069 Ps. 6,912,952 Ps. 6,928,170 Ps. 6,827,478 Interest expense 450,806 454,863 523,488 398,899 387,523 332,030 Bank loans(Note 10) 306,241 4,650,000 Long-term debt (Note 11) 3,947,522 Interest paid (476,927) (428,530) (532,579) (466,066) (480,168) (547,042) Payments of the long term debt and bank loans (253,925) (220,961) (222,568) (245,520) (4,429,334) (1,498,076) Foreign currency translation 452,281 174,521 (398,756) 21,664 (228,713) (178,805) Balances at December 31 Ps. 6,972,176 Ps. 6,952,069 Ps. 10,269,176 Ps. 6,928,170 Ps. 6,827,478 Ps. 4,935,585 |
Overview_ (Details)
Overview: (Details) - location | 12 Months Ended | |||
Oct. 20, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of business combinations line items | ||||
Number of airports | 9 | |||
Agreement term | 50 years | |||
Proportion of interest in subsidiary | 60% | |||
Aeropuerto de Cancun, S. A. de C. V. | ||||
Disclosure of business combinations line items | ||||
Proportion of interest in subsidiary | 100% | 100% | 100% | |
Aerostar | ||||
Disclosure of business combinations line items | ||||
Proportion of interest in subsidiary | 60% | |||
Airplan | ||||
Disclosure of business combinations line items | ||||
Proportion of interest in subsidiary | 100% | |||
Investing public | ||||
Disclosure of business combinations line items | ||||
Proportion of interest acquired | 66.54% | 60.63% | 66.54% | |
ITA | ||||
Disclosure of business combinations line items | ||||
Proportion of interest acquired | 7.65% | 7.65% | 7.65% | |
Servicios Estrategia Patrimonial | ||||
Disclosure of business combinations line items | ||||
Proportion of interest acquired | 19.41% | 13.51% | 13.51% | |
Remer Soluciones a la Inversion [member] | ||||
Disclosure of business combinations line items | ||||
Proportion of interest acquired | 12.31% | 12.31% | 12.31% |
Overview_ - Significant events
Overview: - Significant events (Details) $ in Thousands, $ in Thousands | 1 Months Ended | 12 Months Ended | |||||||||||||||||||||||||
Nov. 29, 2022 MXN ($) | Nov. 05, 2021 MXN ($) | Nov. 05, 2021 USD ($) | Oct. 15, 2021 MXN ($) | Oct. 13, 2021 MXN ($) | Sep. 29, 2021 MXN ($) | Apr. 26, 2021 MXN ($) | Feb. 18, 2021 MXN ($) | Feb. 18, 2021 USD ($) | Dec. 30, 2020 | Jun. 29, 2020 MXN ($) | May 12, 2020 MXN ($) | May 12, 2020 USD ($) | Apr. 23, 2020 MXN ($) | Apr. 01, 2020 MXN ($) | Oct. 31, 2017 | Dec. 31, 2022 MXN ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 MXN ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 MXN ($) | Dec. 31, 2020 USD ($) | Dec. 31, 2022 COP ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2021 COP ($) | Sep. 30, 2021 | Aug. 19, 2020 MXN ($) | |
Disclosure of geographical areas [line items] | |||||||||||||||||||||||||||
Points to add interest rate | 1.25% | 1.25% | 1.25% | 1.25% | 1.25% | ||||||||||||||||||||||
Net decrease in allowance for bad debts | $ 28,519 | ||||||||||||||||||||||||||
Increase in allowance for bad debts | 28,519 | ||||||||||||||||||||||||||
Deferment investments | $ 2,292,355 | ||||||||||||||||||||||||||
Loans received | $ 6,415,986 | 11,229,606 | |||||||||||||||||||||||||
Dividends | $ 2,463,000 | 4,509,000 | 2,463,000 | ||||||||||||||||||||||||
Ordinary dividends | 2,709,000 | ||||||||||||||||||||||||||
Extraordinary dividend declared and paid | 1,800,000 | ||||||||||||||||||||||||||
Disposal of loans | $ 1,498,076 | $ 4,429,334 | $ 245,520 | ||||||||||||||||||||||||
Percentage of increase in consolidated income excluding construction services | 44.65% | 44.65% | 44.70% | 44.70% | 74.40% | 74.40% | |||||||||||||||||||||
Percentage of increase in aeronautical revenues excluding construction services | 49.57% | 49.57% | 73.80% | 73.80% | |||||||||||||||||||||||
Percentage of decrease in aeronautical income | 45.10% | 45.10% | 0.30% | 0.30% | |||||||||||||||||||||||
Percentage of increse in aeronautical income | 46.60% | 46.60% | |||||||||||||||||||||||||
Percentage of increase in non-aeronautical revenues | 42.80% | 42.80% | 4% | 4% | |||||||||||||||||||||||
Percentage of increase in non-aeronautical revenues | 37.22% | 37.22% | 75.20% | 75.20% | |||||||||||||||||||||||
Percentage of decrease in non-aeronautical income | 2% | 2% | |||||||||||||||||||||||||
Amount of aid subsidy received under CRRSA Act | $ 196,376 | $ 9,595 | |||||||||||||||||||||||||
Mexico | |||||||||||||||||||||||||||
Disclosure of geographical areas [line items] | |||||||||||||||||||||||||||
Percentage of increase in passenger traffic | 76.28% | 76.28% | |||||||||||||||||||||||||
Points to add interest rate | 7% | 7% | 7% | 7% | 7% | ||||||||||||||||||||||
Term of guaranteed notes receivable | 1 year 6 months | 1 year 6 months | 1 year 6 months | 1 year 6 months | |||||||||||||||||||||||
Notes received pledged | $ 4,463 | ||||||||||||||||||||||||||
Increase in allowance for bad debts | $ 5,707 | 9,331 | |||||||||||||||||||||||||
Loans received | $ 4,650,000 | $ 8,630,000 | |||||||||||||||||||||||||
Percentage of increase in aeronautical revenues excluding construction services | 60.23% | 60.23% | |||||||||||||||||||||||||
Percentage of increase in non-aeronautical revenues | 43.62% | 43.62% | |||||||||||||||||||||||||
Colombia (Airplan) | |||||||||||||||||||||||||||
Disclosure of geographical areas [line items] | |||||||||||||||||||||||||||
Percentage of increase in passenger traffic | 149.82% | 149.82% | |||||||||||||||||||||||||
Points to add interest rate | 4% | 4% | |||||||||||||||||||||||||
Net decrease in allowance for bad debts | $ 1,575 | ||||||||||||||||||||||||||
Increase in allowance for bad debts | $ 3,974 | ||||||||||||||||||||||||||
Loans received | $ 1,765,986 | $ 2,390,983 | $ 167,897,539 | $ 335,925,853 | |||||||||||||||||||||||
Percentage of increase in aeronautical revenues excluding construction services | 72.55% | 72.55% | |||||||||||||||||||||||||
Percentage of increase in non-aeronautical revenues | 44.76% | 44.76% | |||||||||||||||||||||||||
Puerto Rico (Aerostar) | |||||||||||||||||||||||||||
Disclosure of geographical areas [line items] | |||||||||||||||||||||||||||
Percentage of increase in passenger traffic | 99.83% | 99.83% | |||||||||||||||||||||||||
Net decrease in allowance for bad debts | $ 36,275 | ||||||||||||||||||||||||||
Increase in allowance for bad debts | $ 7,997 | 36,275 | |||||||||||||||||||||||||
Loans received | 208,623 | $ 10,000 | |||||||||||||||||||||||||
Percentage of increase in aeronautical revenues excluding construction services | 3.61% | 3.61% | |||||||||||||||||||||||||
Percentage of increase in non-aeronautical revenues | 14.65% | 14.65% | |||||||||||||||||||||||||
Amount of grant offer under CARES Act. | $ 717,590 | $ 33,417 | 33,477 | $ 16,292 | $ 717,590 | $ 33,417 | |||||||||||||||||||||
Amount of aid subsidy received under CARES Act | $ 367,752 | $ 17,125 | 333,477 | 16,292 | $ 367,752 | $ 17,125 | |||||||||||||||||||||
Amount of grant offer under CRRSA Act. | $ 210,574 | $ 10,577 | |||||||||||||||||||||||||
Amount of aid subsidy received under CRRSA Act | 20,122 | $ 983 | |||||||||||||||||||||||||
Amount of grant offer under ARP Act. | $ 731,106 | $ 35,716 | $ 731,106 | $ 35,716 | |||||||||||||||||||||||
Subsidy received under ARPA | 350,901 | $ 17,515 | |||||||||||||||||||||||||
Banco Popular De Puerto Rico | |||||||||||||||||||||||||||
Disclosure of geographical areas [line items] | |||||||||||||||||||||||||||
Points to add interest rate | 0.50% | 0.50% | |||||||||||||||||||||||||
Term of loan | 3 years | 3 years | |||||||||||||||||||||||||
Disposal of loans | $ 239,200 | ||||||||||||||||||||||||||
Banco Popular De Puerto Rico | Mexico | |||||||||||||||||||||||||||
Disclosure of geographical areas [line items] | |||||||||||||||||||||||||||
Loans received | $ 1,500,000 | ||||||||||||||||||||||||||
Term of loan | 18 months | ||||||||||||||||||||||||||
Banco Popular De Puerto Rico | Puerto Rico (Aerostar) | |||||||||||||||||||||||||||
Disclosure of geographical areas [line items] | |||||||||||||||||||||||||||
Loans received | 208,623 | $ 10,000 | |||||||||||||||||||||||||
Santandar | |||||||||||||||||||||||||||
Disclosure of geographical areas [line items] | |||||||||||||||||||||||||||
Borrowings, interest rate basis | 28-day TIIE rate plus 125 basis points | ||||||||||||||||||||||||||
Points to add interest rate | 1.25% | ||||||||||||||||||||||||||
Term of loan | 5 years | ||||||||||||||||||||||||||
Disposal of loans | $ 2,000,000 | ||||||||||||||||||||||||||
Santandar | Mexico | |||||||||||||||||||||||||||
Disclosure of geographical areas [line items] | |||||||||||||||||||||||||||
Borrowings, interest rate basis | 28-day TIIE rate plus 150 basis points | ||||||||||||||||||||||||||
Points to add interest rate | 1.50% | ||||||||||||||||||||||||||
Loans received | 2,000,000 | ||||||||||||||||||||||||||
Disposal of loans | $ 2,000,000 | ||||||||||||||||||||||||||
Santandar New | |||||||||||||||||||||||||||
Disclosure of geographical areas [line items] | |||||||||||||||||||||||||||
Borrowings, interest rate basis | 28-day TIIE rate plus 150 basis points | ||||||||||||||||||||||||||
Points to add interest rate | 1.50% | ||||||||||||||||||||||||||
Disposal of loans | $ 650,000 | ||||||||||||||||||||||||||
Santandar New | Mexico | |||||||||||||||||||||||||||
Disclosure of geographical areas [line items] | |||||||||||||||||||||||||||
Loans received | $ 2,650,000 | 2,650,000 | 2,650,000 | ||||||||||||||||||||||||
BBVA Bancomer, S. A. | |||||||||||||||||||||||||||
Disclosure of geographical areas [line items] | |||||||||||||||||||||||||||
Borrowings, interest rate basis | 28-Day Interbank Equilibrium Interest Rate (28 Day TIIE) plus 1.5% | TIIE rate of 28 days plus 1.25 points. | |||||||||||||||||||||||||
Points to add interest rate | 1.50% | 1.25% | |||||||||||||||||||||||||
Term of loan | 18 months | 7 years | |||||||||||||||||||||||||
Disposal of loans | $ 1,960,000 | $ 20,000 | |||||||||||||||||||||||||
BBVA Bancomer, S. A. | Mexico | |||||||||||||||||||||||||||
Disclosure of geographical areas [line items] | |||||||||||||||||||||||||||
Loans received | $ 2,000,000 | 2,000,000 | |||||||||||||||||||||||||
Disposal of loans | $ 1,960,000 | ||||||||||||||||||||||||||
BBVA Bancomer, S.A. New | |||||||||||||||||||||||||||
Disclosure of geographical areas [line items] | |||||||||||||||||||||||||||
Borrowings, interest rate basis | TIIE rate to 28 days plus an applicable margin | ||||||||||||||||||||||||||
Points to add interest rate | 1.50% | ||||||||||||||||||||||||||
Term of loan | 7 years | ||||||||||||||||||||||||||
BBVA Bancomer, S.A. New | Mexico | |||||||||||||||||||||||||||
Disclosure of geographical areas [line items] | |||||||||||||||||||||||||||
Borrowings, interest rate basis | 28-day TIIE rate plus an applicable margin | ||||||||||||||||||||||||||
Loans received | $ 2,000,000 | $ 1,980,000 | |||||||||||||||||||||||||
Term of loan | 7 years |
Segment Information_ (Details)
Segment Information: (Details) - MXN ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Operating segments: | |||
Aeronautical revenue | $ 14,072,517 | $ 9,408,599 | $ 5,412,418 |
Non aeronautical revenue | 8,548,671 | 6,229,896 | 3,555,227 |
Revenue for construction services | 2,692,694 | 3,146,166 | 3,657,086 |
Total | 25,313,882 | 18,784,661 | 12,624,731 |
Operating profit | 14,698,149 | 8,657,674 | 3,276,176 |
Total assets | 70,919,521 | 65,830,728 | |
Total liabilities | 21,903,914 | 20,060,672 | |
Exchange rate translation from non-current assets (***) | (1,767,962) | 144,217 | 800,638 |
Amortization and depreciation | (2,059,237) | (1,993,342) | (1,934,766) |
Operating segments | |||
Operating segments: | |||
Aeronautical revenue | 14,072,517 | 9,408,599 | 5,412,418 |
Non aeronautical revenue | 8,548,671 | 6,229,896 | 3,555,227 |
Revenue for construction services | 2,692,694 | 3,146,166 | 3,657,086 |
Operating profit | 14,698,149 | 8,657,674 | 3,276,176 |
Non-current assets | 52,839,351 | 54,168,628 | 52,695,162 |
Total assets | 70,919,521 | 65,830,728 | 60,411,211 |
Total liabilities | 21,903,914 | 20,060,672 | 18,718,005 |
Improvements to assets under concession and acquisition of furniture and equipment in the period | 2,775,773 | 3,676,719 | 3,328,560 |
Amortization and depreciation | (2,059,237) | (1,993,342) | (1,934,766) |
Operating segments | Transferred at a point in time: | |||
Operating segments: | |||
Aeronautical revenue | 12,257,424 | 8,175,710 | 4,115,664 |
Non aeronautical revenue | 1,422,651 | 1,004,332 | 461,502 |
Total | 13,680,075 | 9,180,042 | 4,577,166 |
Operating segments | Transferred over a period time: | |||
Operating segments: | |||
Aeronautical revenue | 1,815,093 | 1,232,889 | 1,296,754 |
Non aeronautical revenue | 7,126,020 | 5,225,564 | 3,093,725 |
Revenue for construction services | 2,692,694 | 3,146,166 | 3,657,086 |
Total | 11,633,807 | 9,604,619 | 8,047,565 |
Aeropuerto de Cancun, S. A. de C. V. | Operating segments | |||
Operating segments: | |||
Aeronautical revenue | 7,515,691 | 4,644,489 | 2,218,230 |
Non aeronautical revenue | 5,854,262 | 4,038,222 | 2,252,157 |
Revenue for construction services | 910,812 | 1,210,514 | 1,855,747 |
Operating profit | 9,022,518 | 5,406,719 | 2,079,965 |
Non-current assets | 20,397,710 | 20,142,279 | 18,899,582 |
Total assets | 30,024,926 | 26,169,097 | 22,406,388 |
Total liabilities | 6,713,813 | 7,480,794 | 5,557,692 |
Improvements to assets under concession and acquisition of furniture and equipment in the period | 1,062,108 | 1,535,850 | 1,720,381 |
Amortization and depreciation | (610,864) | (546,795) | (487,333) |
Aeropuerto de Cancun, S. A. de C. V. | Operating segments | Transferred at a point in time: | |||
Operating segments: | |||
Aeronautical revenue | 6,628,035 | 4,009,238 | 1,888,076 |
Non aeronautical revenue | 1,085,461 | 687,390 | 319,367 |
Total | 7,713,496 | 4,696,628 | 2,207,443 |
Aeropuerto de Cancun, S. A. de C. V. | Operating segments | Transferred over a period time: | |||
Operating segments: | |||
Aeronautical revenue | 887,656 | 635,251 | 330,154 |
Non aeronautical revenue | 4,768,801 | 3,350,832 | 1,932,790 |
Revenue for construction services | 910,812 | 1,210,514 | 1,855,747 |
Total | 6,567,269 | 5,196,597 | 4,118,691 |
Aerostar | Operating segments | |||
Operating segments: | |||
Aeronautical revenue | 2,100,276 | 2,027,188 | 1,808,102 |
Non aeronautical revenue | 1,598,601 | 1,394,346 | 740,450 |
Revenue for construction services | 411,152 | 231,301 | 353,686 |
Operating profit | 2,149,776 | 1,526,642 | 923,518 |
Non-current assets | 19,071,914 | 20,330,478 | 20,229,990 |
Total assets | 23,292,857 | 22,988,431 | 21,630,906 |
Total liabilities | 12,177,362 | 8,876,260 | 8,934,439 |
Improvements to assets under concession and acquisition of furniture and equipment in the period | 440,627 | 230,344 | 400,500 |
Amortization and depreciation | (724,294) | (740,075) | (746,524) |
Aerostar | Operating segments | Transferred at a point in time: | |||
Operating segments: | |||
Aeronautical revenue | 1,411,532 | 1,588,161 | 953,715 |
Non aeronautical revenue | 337,190 | 316,942 | 142,135 |
Total | 1,748,722 | 1,905,103 | 1,095,850 |
Aerostar | Operating segments | Transferred over a period time: | |||
Operating segments: | |||
Aeronautical revenue | 688,744 | 439,027 | 854,387 |
Non aeronautical revenue | 1,261,411 | 1,077,404 | 598,315 |
Revenue for construction services | 411,152 | 231,301 | 353,686 |
Total | 2,361,307 | 1,747,732 | 1,806,388 |
Airplan | Operating segments | |||
Operating segments: | |||
Aeronautical revenue | 2,027,061 | 1,174,762 | 488,981 |
Non aeronautical revenue | 652,280 | 450,604 | 296,961 |
Revenue for construction services | 12,922 | 6,261 | 6,918 |
Operating profit | 1,233,502 | 430,817 | (242,234) |
Non-current assets | 3,396,813 | 4,526,009 | 5,604,037 |
Total assets | 4,924,236 | 5,556,098 | 6,090,371 |
Total liabilities | 2,457,168 | 3,255,579 | 3,826,600 |
Improvements to assets under concession and acquisition of furniture and equipment in the period | 12,695 | 4,537 | 6,918 |
Amortization and depreciation | (415,829) | (445,236) | (461,563) |
Airplan | Operating segments | Transferred at a point in time: | |||
Operating segments: | |||
Aeronautical revenue | 1,967,114 | 1,142,604 | 459,655 |
Total | 1,967,114 | 1,142,604 | 459,655 |
Airplan | Operating segments | Transferred over a period time: | |||
Operating segments: | |||
Aeronautical revenue | 59,947 | 32,158 | 29,326 |
Non aeronautical revenue | 652,280 | 450,604 | 296,961 |
Revenue for construction services | 12,922 | 6,261 | 6,918 |
Total | 725,149 | 489,023 | 333,205 |
Merida | Operating segments | |||
Operating segments: | |||
Aeronautical revenue | 799,661 | 467,065 | 281,659 |
Non aeronautical revenue | 168,802 | 129,797 | 90,431 |
Revenue for construction services | 553,361 | 795,208 | 728,718 |
Operating profit | 557,128 | 247,576 | 95,167 |
Non-current assets | 3,593,843 | 3,220,164 | 2,426,454 |
Total assets | 4,043,180 | 3,562,271 | 2,913,304 |
Total liabilities | 81,660 | 30,724 | 49,910 |
Improvements to assets under concession and acquisition of furniture and equipment in the period | 476,164 | 899,603 | 570,940 |
Amortization and depreciation | (70,397) | (53,733) | (49,427) |
Merida | Operating segments | Transferred at a point in time: | |||
Operating segments: | |||
Aeronautical revenue | 745,695 | 429,884 | 254,210 |
Total | 745,695 | 429,884 | 254,210 |
Merida | Operating segments | Transferred over a period time: | |||
Operating segments: | |||
Aeronautical revenue | 53,966 | 37,181 | 27,449 |
Non aeronautical revenue | 168,802 | 129,797 | 90,431 |
Revenue for construction services | 553,361 | 795,208 | 728,718 |
Total | 776,129 | 962,186 | 846,598 |
Villahermosa [member] | Operating segments | |||
Operating segments: | |||
Aeronautical revenue | 316,367 | 211,238 | 132,751 |
Non aeronautical revenue | 64,553 | 49,410 | 42,103 |
Revenue for construction services | 105,690 | 123,936 | 154,155 |
Operating profit | 193,390 | 95,027 | 40,020 |
Non-current assets | 1,250,325 | 1,246,279 | 1,097,864 |
Total assets | 1,497,541 | 1,456,118 | 1,345,826 |
Total liabilities | 125,739 | 101,020 | 78,198 |
Improvements to assets under concession and acquisition of furniture and equipment in the period | 50,654 | 179,968 | 118,736 |
Amortization and depreciation | (38,317) | (35,601) | (31,897) |
Villahermosa [member] | Operating segments | Transferred at a point in time: | |||
Operating segments: | |||
Aeronautical revenue | 290,593 | 191,766 | 120,688 |
Total | 290,593 | 191,766 | 120,688 |
Villahermosa [member] | Operating segments | Transferred over a period time: | |||
Operating segments: | |||
Aeronautical revenue | 25,774 | 19,472 | 12,063 |
Non aeronautical revenue | 64,553 | 49,410 | 42,103 |
Revenue for construction services | 105,690 | 123,936 | 154,155 |
Total | 196,017 | 192,818 | 208,321 |
Holding & service | Operating segments | |||
Operating segments: | |||
Non aeronautical revenue | 872,592 | 1,191,810 | 1,265,920 |
Operating profit | 806,419 | 546,457 | 327,631 |
Non-current assets | 40,386,563 | 36,791,385 | 33,164,914 |
Total assets | 41,149,776 | 37,190,823 | 33,834,595 |
Total liabilities | 161,001 | 70,852 | 184,800 |
Amortization and depreciation | 906 | (1,677) | (6,976) |
Holding & service | Operating segments | Transferred over a period time: | |||
Operating segments: | |||
Non aeronautical revenue | 872,592 | 1,191,810 | 1,265,920 |
Total | 872,592 | 1,191,810 | 1,265,920 |
Other | Operating segments | |||
Operating segments: | |||
Aeronautical revenue | 1,313,461 | 883,857 | 482,695 |
Non aeronautical revenue | 210,173 | 167,517 | 133,496 |
Revenue for construction services | 698,757 | 778,946 | 557,862 |
Operating profit | 735,416 | 404,436 | 52,109 |
Non-current assets | 6,217,622 | 5,754,925 | 5,029,721 |
Total assets | 7,462,444 | 6,750,781 | 5,947,221 |
Total liabilities | 187,171 | 245,443 | 86,366 |
Improvements to assets under concession and acquisition of furniture and equipment in the period | 733,525 | 826,417 | 511,085 |
Amortization and depreciation | (200,442) | (170,225) | (151,046) |
Other | Operating segments | Transferred at a point in time: | |||
Operating segments: | |||
Aeronautical revenue | 1,214,455 | 814,057 | 439,320 |
Total | 1,214,455 | 814,057 | 439,320 |
Other | Operating segments | Transferred over a period time: | |||
Operating segments: | |||
Aeronautical revenue | 99,006 | 69,800 | 43,375 |
Non aeronautical revenue | 210,173 | 167,517 | 133,496 |
Revenue for construction services | 698,757 | 778,946 | 557,862 |
Total | 1,007,936 | 1,016,263 | 734,733 |
Consolidation adjustments | Operating segments | |||
Operating segments: | |||
Non aeronautical revenue | (872,592) | (1,191,810) | (1,266,291) |
Non-current assets | (41,475,439) | (37,842,891) | (33,757,400) |
Total assets | (41,475,439) | (37,842,891) | (33,757,400) |
Consolidation adjustments | Operating segments | Transferred over a period time: | |||
Operating segments: | |||
Non aeronautical revenue | (872,592) | (1,191,810) | (1,266,291) |
Total | $ (872,592) | $ (1,191,810) | $ (1,266,291) |
Segment information_ Additional
Segment information: Additional information (Details) - location | 12 Months Ended | |||
Oct. 20, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Operating segments: | ||||
Number of airports | 9 | |||
Proportion of interest in subsidiary | 60% | |||
Aeropuerto de Cancun, S. A. de C. V. | ||||
Operating segments: | ||||
Proportion of interest in subsidiary | 100% | 100% | 100% | |
Airplan | ||||
Operating segments: | ||||
Proportion of interest in subsidiary | 100% | |||
Aerostar | ||||
Operating segments: | ||||
Proportion of interest in subsidiary | 60% |
Revenue from Contracts with C_3
Revenue from Contracts with Customers: Construction services (Details) - MXN ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Revenue from Contracts with Customers: | |||
Construction services | $ 2,692,694 | $ 3,146,166 | $ 3,657,086 |
Revenue from Contracts with C_4
Revenue from Contracts with Customers: Airports law and regulations (Details) - MXN ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Revenue from Contracts with Customers | |||
Revenue | $ 25,313,882 | $ 18,784,661 | $ 12,624,731 |
Commercial services | 5,932,414 | 4,376,269 | 2,544,474 |
Revenue for construction services | 2,692,694 | 3,146,166 | 3,657,086 |
Regulated services: | |||
Revenue from Contracts with Customers | |||
Revenue | 14,485,828 | 9,694,640 | 5,637,758 |
Regulated services: | Passenger fees | |||
Revenue from Contracts with Customers | |||
Revenue | 10,795,615 | 6,767,394 | 3,476,804 |
Regulated services: | Landing fees | |||
Revenue from Contracts with Customers | |||
Revenue | 1,277,251 | 1,075,198 | 983,173 |
Regulated services: | Platform | |||
Revenue from Contracts with Customers | |||
Revenue | 751,464 | 592,671 | 395,432 |
Regulated services: | Security services | |||
Revenue from Contracts with Customers | |||
Revenue | 134,364 | 88,758 | 46,553 |
Regulated services: | Baggage inspection fees | |||
Revenue from Contracts with Customers | |||
Revenue | 353,638 | 251,956 | 140,502 |
Regulated services: | Passenger walkway | |||
Revenue from Contracts with Customers | |||
Revenue | 644,356 | 562,192 | 333,134 |
Regulated services: | Passengers documentation counters | |||
Revenue from Contracts with Customers | |||
Revenue | 29,841 | 20,187 | 9,383 |
Regulated services: | Other airport services | |||
Revenue from Contracts with Customers | |||
Revenue | 499,299 | 336,284 | 252,777 |
Non regulated services: | |||
Revenue from Contracts with Customers | |||
Commercial services | 5,932,414 | 4,376,269 | 2,544,474 |
Revenue | 8,135,360 | 5,943,855 | 3,329,887 |
Non regulated services: | Retail stores | |||
Revenue from Contracts with Customers | |||
Revenue | 1,422,651 | 1,004,332 | 461,502 |
Non regulated services: | Access fees on nonpermanent ground transportation | |||
Revenue from Contracts with Customers | |||
Revenue | 82,857 | 59,625 | 29,967 |
Non regulated services: | Car parking and related access fees | |||
Revenue from Contracts with Customers | |||
Revenue | 416,767 | 316,356 | 171,193 |
Non regulated services: | Other airport services | |||
Revenue from Contracts with Customers | |||
Revenue | 280,671 | 187,273 | 122,751 |
Non regulated services: | Non-regulated services excluding commercial services | |||
Revenue from Contracts with Customers | |||
Revenue | $ 2,202,946 | $ 1,567,586 | $ 785,413 |
Revenue from Contracts with C_5
Revenue from Contracts with Customers: Commercial services (Details) - MXN ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Revenue from Contracts with Customers: | |||
Commercial services | $ 5,932,414 | $ 4,376,269 | $ 2,544,474 |
Duty free shops | |||
Revenue from Contracts with Customers: | |||
Commercial services | 2,495,826 | 1,746,097 | 991,833 |
Food and beverage | |||
Revenue from Contracts with Customers: | |||
Commercial services | 1,243,576 | 823,883 | 449,340 |
Advertising revenues | |||
Revenue from Contracts with Customers: | |||
Commercial services | 151,741 | 129,589 | 92,683 |
Car rental companies | |||
Revenue from Contracts with Customers: | |||
Commercial services | 1,110,926 | 953,085 | 485,725 |
Banking and currency exchange services | |||
Revenue from Contracts with Customers: | |||
Commercial services | 102,783 | 107,228 | 72,563 |
Teleservices | |||
Revenue from Contracts with Customers: | |||
Commercial services | 15,538 | 17,539 | 15,174 |
Ground transportations | |||
Revenue from Contracts with Customers: | |||
Commercial services | 131,653 | 95,690 | 49,721 |
Other services | |||
Revenue from Contracts with Customers: | |||
Commercial services | $ 680,371 | $ 503,158 | $ 387,435 |
Revenue from Contracts with C_6
Revenue from Contracts with Customers: Domestic and international passenger traffic - (Details) - individual | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Total domestic passengers | 41,823 | 33,180 | 17,419 |
Total international passengers | 24,518 | 16,172 | 8,171 |
Number of total passengers | 66,341 | 49,352 | 25,590 |
Mexico | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Total domestic passengers | 18,701 | 15,057 | 9,246 |
Total international passengers | 20,823 | 14,081 | 7,283 |
Puerto Rico (Aerostar) | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Total domestic passengers | 9,404 | 9,139 | 4,548 |
Total international passengers | 907 | 545 | 298 |
Colombia (Airplan) | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Total domestic passengers | 13,718 | 8,984 | 3,625 |
Total international passengers | 2,788 | 1,546 | 590 |
Revenue from Contracts with C_7
Revenue from Contracts with Customers: Decrease in passenger traffic as a result of COVID-19 - (Details) $ in Thousands, $ in Thousands | 12 Months Ended | |||||
Dec. 31, 2022 MXN ($) | Dec. 31, 2021 MXN ($) | Dec. 31, 2020 MXN ($) | Dec. 31, 2018 USD ($) | Dec. 31, 2013 MXN ($) | Dec. 31, 2013 USD ($) | |
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||||
Aeronautical services revenue | $ 14,072,517 | $ 9,408,599 | $ 5,412,418 | |||
Non aeronautical revenue | 8,548,671 | 6,229,896 | 3,555,227 | |||
Total without construction revenue | $ 22,621,188 | $ 15,638,495 | $ 8,967,645 | |||
Change % compared to 2020, Total aeronautical revenue | 160% | |||||
Change % compared to 2020, Total non-aeronautical revenue | 140.45% | |||||
Change % compared to 2020, Total without construction revenue | 152.25% | |||||
Change % compared to 2018, Total non-aeronautical revenue | 42.80% | 4% | ||||
Change % compared to 2021, Total aeronautical revenue | 49.57% | 73.80% | ||||
Change % compared to 2021, Total non-aeronautical revenue | 37.22% | 75.20% | ||||
Change % compared to 2021, Total without construction revenue | 44.65% | 44.70% | 74.40% | |||
Aerostar | ||||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||||
Aeronautical services revenue | $ 2,100,275 | $ 2,027,188 | $ 1,808,102 | $ 62,000 | $ 1,268,966 | $ 62,000 |
Airplan | ||||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||||
Aeronautical services revenue | 2,027,061 | 1,174,761 | 488,982 | |||
Mexico | ||||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||||
Aeronautical services revenue | 9,945,180 | 6,206,649 | 3,115,335 | |||
Non aeronautical revenue | $ 6,297,790 | 4,384,946 | 2,517,816 | |||
Change % compared to 2020, Total aeronautical revenue | 219.23% | |||||
Change % compared to 2020, Total non-aeronautical revenue | 150.13% | |||||
Change % compared to 2021, Total aeronautical revenue | 60.23% | |||||
Change % compared to 2021, Total non-aeronautical revenue | 43.62% | |||||
Puerto Rico (Aerostar) | ||||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||||
Aeronautical services revenue | $ 2,100,276 | 2,027,188 | 1,808,102 | |||
Non aeronautical revenue | $ 1,598,601 | 1,394,346 | 740,450 | |||
Change % compared to 2020, Total aeronautical revenue | 16.16% | |||||
Change % compared to 2020, Total non-aeronautical revenue | 115.90% | |||||
Change % compared to 2021, Total aeronautical revenue | 3.61% | |||||
Change % compared to 2021, Total non-aeronautical revenue | 14.65% | |||||
Colombia (Airplan) | ||||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||||
Aeronautical services revenue | $ 2,027,061 | 1,174,762 | 488,981 | |||
Non aeronautical revenue | $ 652,280 | $ 450,604 | $ 296,961 | |||
Change % compared to 2020, Total aeronautical revenue | 314.55% | |||||
Change % compared to 2020, Total non-aeronautical revenue | 119.65% | |||||
Change % compared to 2021, Total aeronautical revenue | 72.55% | |||||
Change % compared to 2021, Total non-aeronautical revenue | 44.76% |
Revenue from Contracts with C_8
Revenue from Contracts with Customers: Future lease income (Details) - MXN ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Future lease income: | |||
Lease payments receivable | $ 18,513,795 | $ 16,629,413 | $ 13,196,621 |
2021 | |||
Future lease income: | |||
Lease payments receivable | 2,515,572 | ||
2022 | |||
Future lease income: | |||
Lease payments receivable | 3,684,803 | 2,315,111 | |
2023 | |||
Future lease income: | |||
Lease payments receivable | 4,531,807 | 3,415,663 | 2,184,496 |
2024. | |||
Future lease income: | |||
Lease payments receivable | 4,070,098 | 2,962,391 | 1,943,444 |
2025 | |||
Future lease income: | |||
Lease payments receivable | 3,869,058 | 2,821,799 | 1,857,885 |
2026 - 2030 | |||
Future lease income: | |||
Lease payments receivable | $ 6,042,832 | $ 3,744,757 | $ 2,380,113 |
Revenue from Contracts with C_9
Revenue from Contracts with Customers: Additional information (Details) $ in Thousands, $ in Thousands | 12 Months Ended | ||||||||
Dec. 31, 2022 MXN ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 MXN ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 MXN ($) | Dec. 31, 2020 USD ($) | Dec. 31, 2018 USD ($) | Dec. 31, 2013 MXN ($) | Dec. 31, 2013 USD ($) | |
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||||||||
Prompt payment discount | $ 118,480 | $ 88,787 | $ 44,561 | ||||||
Non-aeronautical services | 8,548,671 | 6,229,896 | 3,555,227 | ||||||
Operating lease income | 4,637,247 | 3,682,917 | 1,931,965 | ||||||
Fixed lease income | 1,295,167 | 653,070 | 612,509 | ||||||
Aeronautical services revenue | 14,072,517 | 9,408,599 | 5,412,418 | ||||||
Revenue from rendering of transport services | 413,322 | 286,042 | 225,340 | ||||||
Revenue for construction services | 2,692,694 | 3,146,166 | 3,657,086 | ||||||
Revenue from construction contracts | 2,692,694 | 3,146,166 | 3,657,086 | ||||||
Mexico | |||||||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||||||||
Aeronautical services revenue | 10,358,492 | 6,492,691 | 3,340,674 | ||||||
Revenue for construction services | 2,268,620 | 2,908,604 | 3,296,482 | ||||||
Revenue from construction contracts | 2,268,620 | 2,908,604 | 3,296,482 | ||||||
Puerto Rico (Aerostar) | |||||||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||||||||
Revenue for construction services | 411,152 | 231,301 | 353,686 | ||||||
Revenue from construction contracts | 411,152 | 231,301 | 353,686 | ||||||
Colombia (Airplan) | |||||||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||||||||
Aeronautical services revenue | 1,174,761 | ||||||||
Revenue for construction services | 12,922 | 6,261 | 6,918 | ||||||
Revenue from construction contracts | 12,922 | 6,261 | 6,918 | ||||||
Aerostar | |||||||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||||||||
Aeronautical services revenue | $ 1,305,166 | $ 67,030 | 1,336,793 | $ 65,907 | 1,391,462 | $ 64,495 | |||
Term of Use Agreement | 15 years | 15 years | |||||||
Aerostar | |||||||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||||||||
Aeronautical services revenue | $ 2,100,275 | 2,027,188 | 1,808,102 | $ 62,000 | $ 1,268,966 | $ 62,000 | |||
Airplan | |||||||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||||||||
Aeronautical services revenue | $ 2,027,061 | $ 1,174,761 | $ 488,982 |
Revenue from Contracts with _10
Revenue from Contracts with Customers - Other income (Details) $ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 MXN ($) $ / item | Dec. 31, 2022 USD ($) $ / item | Dec. 31, 2020 MXN ($) | Dec. 31, 2020 USD ($) | |
Revenue from Contracts with Customers | ||||
Revenue from insurance recovery | $ 7,300 | |||
Insurance recovery recognized in the comprehensive statement of income | $ 158,906 | |||
Other income | $ 346,232 | $ 158,881 | ||
Revenue per gallon | $ / item | 0.02 | 0.02 | ||
Income recovery from the fuel distribution fee at the LMM Airport | ||||
Revenue from Contracts with Customers | ||||
Other income | $ 300,384 | |||
Income recovery due to regularization of car rental companies | ||||
Revenue from Contracts with Customers | ||||
Other income | 45,848 | |||
Car rental operation outside the airport | ||||
Revenue from Contracts with Customers | ||||
Insurance recovery recognized in the comprehensive statement of income | $ 45,848 | $ 2,225 |
Costs and expenses by nature__2
Costs and expenses by nature: (Details) - MXN ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Costs and expenses by nature: | |||
Short term benefits | $ 1,235,765 | $ 1,167,302 | $ 1,039,883 |
Electric power | 544,397 | 419,909 | 382,026 |
Maintenance and conservation | 596,043 | 611,274 | 447,884 |
Professional fees | 227,817 | 225,321 | 251,621 |
Insurance and bonds | 151,041 | 227,342 | 127,750 |
Surveillance services | 329,414 | 294,807 | 275,206 |
Cleaning services | 263,177 | 209,447 | 207,599 |
Technical assistance | 643,891 | 391,698 | 175,615 |
Right of use of assets under concession | 1,424,066 | 948,062 | 535,379 |
Amortization and depreciation of intangible assets, furniture and equipment | 2,059,237 | 1,993,342 | 1,934,766 |
Consumption of commercial items | 489,244 | 333,192 | 169,298 |
Construction services | 2,692,694 | 3,146,166 | 3,657,086 |
Termination benefits | 4,343 | 2,866 | 2,382 |
Employees' statutory profit sharing | 104,731 | 84,670 | 3,115 |
Impairment of accounts receivable | 9,681 | 9,331 | 154,417 |
Other | 186,424 | 62,258 | 143,409 |
Total aeronautical and non-aeronautical services costs, costs of construction services and administrative expenses | $ 10,961,965 | $ 10,126,987 | $ 9,507,436 |
Costs and expenses by nature_ A
Costs and expenses by nature: Additional information (Details) $ in Thousands, $ in Thousands | 1 Months Ended | 6 Months Ended | 12 Months Ended | 36 Months Ended | |||||||||||||
Nov. 05, 2021 USD ($) | Nov. 05, 2021 MXN ($) | Feb. 18, 2021 USD ($) | Feb. 18, 2021 MXN ($) | May 12, 2020 USD ($) | May 12, 2020 MXN ($) | May 31, 2019 | Jun. 30, 2019 | Dec. 31, 2019 | Dec. 31, 2022 USD ($) | Dec. 31, 2022 MXN ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2021 MXN ($) | Dec. 31, 2020 USD ($) | Dec. 31, 2020 MXN ($) | Dec. 31, 2019 MXN ($) | Dec. 31, 2022 | |
Disclosure of geographical areas [line items] | |||||||||||||||||
Right of use of assets under concession | $ 1,424,066 | $ 948,062 | $ 535,379 | ||||||||||||||
Amount received Under CARES Act | $ 0 | ||||||||||||||||
Amount received under CRRSA Act | 196,376 | ||||||||||||||||
Amount received Under ARPA Act | $ 17,515 | 350,901 | |||||||||||||||
Short term benefits | 1,235,765 | 1,167,302 | 1,039,883 | ||||||||||||||
Maintenance and preservation | 596,043 | 611,274 | $ 447,884 | ||||||||||||||
Amortization Of Insurance And Bonding | |||||||||||||||||
Disclosure of geographical areas [line items] | |||||||||||||||||
Amount received Under ARPA Act | 126,285 | ||||||||||||||||
Salaries | |||||||||||||||||
Disclosure of geographical areas [line items] | |||||||||||||||||
Amount received under CRRSA Act | 73,503 | ||||||||||||||||
Amount received Under ARPA Act | 109,241 | ||||||||||||||||
Taxes and duties | |||||||||||||||||
Disclosure of geographical areas [line items] | |||||||||||||||||
Amount received under CRRSA Act | 59,297 | ||||||||||||||||
Amount received Under ARPA Act | 74,934 | ||||||||||||||||
Cleaning Services | |||||||||||||||||
Disclosure of geographical areas [line items] | |||||||||||||||||
Amount received Under ARPA Act | 22,937 | ||||||||||||||||
Maintenance and upkeep | |||||||||||||||||
Disclosure of geographical areas [line items] | |||||||||||||||||
Amount received under CRRSA Act | 31,362 | ||||||||||||||||
Other Pertinent Expenses | |||||||||||||||||
Disclosure of geographical areas [line items] | |||||||||||||||||
Amount received under CRRSA Act | 32,213 | 20,122 | |||||||||||||||
Amount received Under ARPA Act | 17,504 | ||||||||||||||||
Mexico | |||||||||||||||||
Disclosure of geographical areas [line items] | |||||||||||||||||
Right of use of assets under concession | $ 733,168 | $ 476,536 | $ 254,337 | ||||||||||||||
Percentage of revenue | 5% | 5% | 5% | 5% | 5% | 5% | |||||||||||
Colombia (Airplan) | |||||||||||||||||
Disclosure of geographical areas [line items] | |||||||||||||||||
Right of use of assets under concession | $ 504,953 | $ 308,638 | $ 149,602 | ||||||||||||||
Percentage of revenue | 19% | 19% | 19% | 19% | 19% | 19% | |||||||||||
Puerto Rico (Aerostar) | |||||||||||||||||
Disclosure of geographical areas [line items] | |||||||||||||||||
Right of use of assets under concession | $ 185,945 | $ 162,888 | $ 131,440 | ||||||||||||||
Percentage of revenue | 5% | 5% | 5% | 5% | |||||||||||||
Amount of grant offer under CARES Act. | $ 33,417 | $ 717,590 | $ 16,292 | 33,477 | $ 33,417 | 717,590 | |||||||||||
Amount of grant offer under CRRSA Act. | $ 10,577 | $ 210,574 | |||||||||||||||
Amount of grant offer under ARP Act. | $ 35,716 | $ 731,106 | $ 35,716 | 731,106 | |||||||||||||
Amount of subsidy received for reimbursements of invoices | $ 17,125 | $ 367,752 | 16,292 | 333,477 | $ 17,125 | 367,752 | |||||||||||
Number of years fund usage, CARES Act. | 4 years | 4 years | |||||||||||||||
Number of years for fund usage of grant offer under CRRSA Act. | 4 years | 4 years | |||||||||||||||
Number of years for fund usage of gran offer under ARP Act. | 4 years | 4 years | |||||||||||||||
Pertinent expense, net under CARES Act. | $ 9,594 | 339,681 | 33,417 | ||||||||||||||
Pertinent expense, net under CRRSA Act. | 196,376 | $ 983 | 20,122 | ||||||||||||||
Puerto Rico (Aerostar) | Short term benefits | |||||||||||||||||
Disclosure of geographical areas [line items] | |||||||||||||||||
Pertinent expense, net under CARES Act. | 165,489 | 165,894 | |||||||||||||||
Puerto Rico (Aerostar) | Amortization Of Insurance And Bonding | |||||||||||||||||
Disclosure of geographical areas [line items] | |||||||||||||||||
Pertinent expense, net under CARES Act. | 31,909 | 142,274 | |||||||||||||||
Puerto Rico (Aerostar) | Others includes sewage services and waste disposal | |||||||||||||||||
Disclosure of geographical areas [line items] | |||||||||||||||||
Pertinent expense, net under CARES Act. | 95,118 | 23,650 | |||||||||||||||
Pertinent expense, net under CRRSA Act. | $ 20,122 | ||||||||||||||||
Puerto Rico (Aerostar) | Maintenance and preservation | |||||||||||||||||
Disclosure of geographical areas [line items] | |||||||||||||||||
Pertinent expense, net under CARES Act. | $ 40,961 | $ 7,863 |
Cash and cash equivalents_ (Det
Cash and cash equivalents: (Details) - MXN ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Cash and cash equivalents: | ||||
Cash held at banks | $ 7,667,651 | $ 6,589,294 | ||
Short term investments | 5,507,340 | 2,180,768 | ||
Total cash and cash equivalents | $ 13,174,991 | $ 8,770,062 | $ 5,192,628 | $ 6,192,679 |
Cash and cash equivalents_ Rest
Cash and cash equivalents: Restricted (Details) - MXN ($) $ in Thousands | Dec. 31, 2022 | Nov. 17, 2022 | Dec. 31, 2021 |
Disclosure of geographical areas [line items] | |||
Restricted cash and cash equivalents used for passenger facility charge authorized by FAA | $ 96,485 | $ 123,081 | |
Mexico | |||
Disclosure of geographical areas [line items] | |||
Restricted Cash and Cash Equivalents | 148,621 | ||
Restricted Cash Under Master Development Program | $ 148,621 | ||
Puerto Rico (Aerostar) | |||
Disclosure of geographical areas [line items] | |||
Restricted Cash and Cash Equivalents | $ 1,175,622 |
Accounts receivable - Net_ (Det
Accounts receivable - Net: (Details) - MXN ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Accounts receivable - Net: | |||
Clients | $ 2,843,870 | $ 2,191,439 | |
Less: impairment provision | (301,947) | (317,664) | $ (346,183) |
Clients, accounts receivable, net | 2,541,923 | 1,873,775 | |
Notes receivable from clients | 4,463 | ||
Total accounts receivable | $ 2,541,923 | $ 1,878,238 |
Accounts receivable - Net_ Move
Accounts receivable - Net: Movement in provision (Details) - MXN ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Impairment provision: | ||
Provision beginning balance | $ 317,664 | $ 346,183 |
Provision impairment | (128,000) | |
Provision ending balance | 301,947 | 317,664 |
Mexico | ||
Impairment provision: | ||
Provision beginning balance | 208,731 | |
Application to provision | 5,707 | 9,331 |
Provision ending balance | 214,438 | 208,731 |
Colombia (Airplan) | ||
Impairment provision: | ||
Provision beginning balance | 56,877 | |
Application to provision | 3,974 | |
Provision impairment | (17,401) | (1,575) |
Provision ending balance | 43,450 | 56,877 |
Puerto Rico (Aerostar) | ||
Impairment provision: | ||
Provision beginning balance | 52,056 | |
Provision impairment | (7,997) | (36,275) |
Provision ending balance | $ 44,059 | $ 52,056 |
Accounts receivable - Net_ Expe
Accounts receivable - Net: Expected loss rate (Details) - MXN ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Expected loss rate: | |||
Accounts receivables | $ 2,843,870 | $ 2,191,439 | |
Impairment provision | 301,947 | 317,664 | $ 346,183 |
Mexico | |||
Expected loss rate: | |||
Impairment provision | $ 214,438 | $ 208,731 | |
Mexico | Current | |||
Expected loss rate: | |||
Expected credit loss rate | 0% | 0% | |
Accounts receivables | $ 1,917,501 | $ 1,487,553 | |
Mexico | Three months | |||
Expected loss rate: | |||
Expected credit loss rate | 0.02% | 0.02% | |
Accounts receivables | $ 66,618 | $ 44,571 | |
Impairment provision | $ 1,586 | $ 9 | |
Mexico | Six months | |||
Expected loss rate: | |||
Expected credit loss rate | 19.20% | 19.20% | |
Accounts receivables | $ 10,212 | $ 6,429 | |
Impairment provision | $ 1,960 | $ 1,234 | |
Mexico | One year | |||
Expected loss rate: | |||
Expected credit loss rate | 100% | 100% | |
Accounts receivables | $ 81,836 | $ 78,432 | |
Impairment provision | $ 81,836 | $ 78,432 | |
Mexico | More than 365 | |||
Expected loss rate: | |||
Expected credit loss rate | 100% | 100% | |
Accounts receivables | $ 129,056 | $ 129,056 | |
Impairment provision | 129,056 | 129,056 | |
Puerto Rico (Aerostar) | |||
Expected loss rate: | |||
Impairment provision | $ 44,059 | $ 52,056 | |
Puerto Rico (Aerostar) | Current | |||
Expected loss rate: | |||
Expected credit loss rate | 5.40% | 5.40% | |
Accounts receivables | $ 441,967 | $ 140,588 | |
Impairment provision | $ 40,637 | $ 7,657 | |
Puerto Rico (Aerostar) | Three months | |||
Expected loss rate: | |||
Expected credit loss rate | 5.10% | 5.10% | |
Accounts receivables | $ 52,014 | $ 98,868 | |
Impairment provision | $ 2,653 | $ 5,042 | |
Puerto Rico (Aerostar) | Six months | |||
Expected loss rate: | |||
Expected credit loss rate | 43.70% | 43.70% | |
Accounts receivables | $ 1,118 | $ 63,952 | |
Impairment provision | $ 489 | $ 27,947 | |
Puerto Rico (Aerostar) | One year | |||
Expected loss rate: | |||
Expected credit loss rate | 87.50% | 87.50% | |
Accounts receivables | $ 264 | $ 772 | |
Impairment provision | $ 230 | $ 676 | |
Puerto Rico (Aerostar) | More than 365 | |||
Expected loss rate: | |||
Expected credit loss rate | 100% | 100% | |
Accounts receivables | $ 50 | $ 10,734 | |
Impairment provision | 50 | 10,734 | |
Colombia (Airplan) | |||
Expected loss rate: | |||
Impairment provision | $ 43,450 | $ 56,877 | |
Colombia (Airplan) | Current | |||
Expected loss rate: | |||
Expected credit loss rate | 0.83% | 0.83% | |
Accounts receivables | $ 64,761 | ||
Colombia (Airplan) | Three months | |||
Expected loss rate: | |||
Expected credit loss rate | 0.83% | 0.83% | |
Accounts receivables | $ 36,943 | $ 82,638 | |
Impairment provision | $ 4,027 | $ 9,030 | |
Colombia (Airplan) | Six months | |||
Expected loss rate: | |||
Expected credit loss rate | 0.83% | 0.83% | |
Accounts receivables | $ 183 | $ 561 | |
Impairment provision | $ 183 | $ 561 | |
Colombia (Airplan) | One year | |||
Expected loss rate: | |||
Expected credit loss rate | 100% | 100% | |
Accounts receivables | $ 16,869 | $ 22,807 | |
Impairment provision | $ 14,762 | $ 22,807 | |
Colombia (Airplan) | More than 365 | |||
Expected loss rate: | |||
Expected credit loss rate | 100% | 100% | |
Accounts receivables | $ 24,478 | $ 24,478 | |
Impairment provision | $ 24,478 | $ 24,478 |
Accounts receivable - Net_ Addi
Accounts receivable - Net: Additional information (Details) - MXN ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 30, 2020 | Apr. 01, 2020 | |
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Trade and other current receivables | $ 2,541,923 | $ 1,878,238 | ||
Points to add interest rate | 1.25% | 1.25% | ||
Increase in impairment allowance for accounts receivable | $ 28,519 | |||
Decrease in impairment allowance for accounts receivable | $ 15,517 | |||
Provision impairment | 128,000 | |||
Accounts receivables | 2,843,870 | 2,191,439 | ||
Unimpaired past due | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Accounts receivables | 1,917,501 | 1,487,553 | ||
Unimpaired past due | Three months | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Accounts receivables | 147,309 | 211,995 | ||
Unimpaired past due | Later than one year | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Accounts receivables | 158,331 | 253,291 | ||
Passenger fees | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Trade and other current receivables | $ 1,323,005 | $ 1,139,818 | ||
Banco Popular De Puerto Rico | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Points to add interest rate | 0.50% | 0.50% | ||
Mexico | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Points to add interest rate | 7% | 7% | ||
Notes received pledged | $ 4,463 | |||
Term of guaranteed notes receivable | 1 year 6 months | 1 year 6 months | ||
Increase in impairment allowance for accounts receivable | $ 5,707 | $ 9,331 | ||
Colombia (Airplan) | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Points to add interest rate | 4% | |||
Increase in impairment allowance for accounts receivable | $ 3,974 | |||
Decrease in impairment allowance for accounts receivable | 1,575 | |||
Provision impairment | 17,401 | 1,575 | ||
Puerto Rico (Aerostar) | ||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||
Increase in impairment allowance for accounts receivable | 7,997 | 36,275 | ||
Provision impairment | $ 7,997 | $ 36,275 | ||
Domestic traffic (in percent) | 91% | 94% |
Land, furniture and equipment_3
Land, furniture and equipment - Net: (Details) - MXN ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Land, furniture and equipment: | ||
Beginning balance | $ 184,590 | |
Ending balance | 171,004 | $ 184,590 |
Land | ||
Land, furniture and equipment: | ||
Beginning balance | 239 | 302,323 |
Foreign currency translation | (46) | (35) |
Disposals transfers | (302,049) | |
Ending balance | 193 | 239 |
Furniture & equipment | ||
Land, furniture and equipment: | ||
Beginning balance | 121,365 | 117,062 |
Foreign currency translation | (1,051) | 131 |
Additions | 14,578 | 6,201 |
Disposals transfers | (3,133) | (2,029) |
Ending balance | 131,759 | 121,365 |
Machinery & equipment | ||
Land, furniture and equipment: | ||
Beginning balance | 159,049 | 143,618 |
Foreign currency translation | (7,345) | 3,916 |
Additions | 9,082 | 11,515 |
Ending balance | 160,786 | 159,049 |
Computer equipment | ||
Land, furniture and equipment: | ||
Beginning balance | 86,680 | 71,571 |
Foreign currency translation | (4,754) | 2,303 |
Additions | 16,845 | 12,806 |
Ending balance | 98,771 | 86,680 |
Transportation equipment | ||
Land, furniture and equipment: | ||
Beginning balance | 36,068 | 33,269 |
Foreign currency translation | (1,931) | 917 |
Additions | 5,292 | 1,882 |
Ending balance | 39,429 | 36,068 |
Improvements to leased premises | ||
Land, furniture and equipment: | ||
Beginning balance | 83,488 | 63,450 |
Foreign currency translation | (3,500) | 1,943 |
Additions | 13,012 | 19,268 |
Disposals transfers | (1,173) | |
Ending balance | 93,000 | 83,488 |
Accumulated depreciation | ||
Land, furniture and equipment: | ||
Beginning balance | (302,299) | (226,908) |
Foreign currency translation | 13,703 | 757 |
Additions | (64,338) | (78,053) |
Disposals transfers | 1,905 | |
Ending balance | (352,934) | (302,299) |
Gross carrying amount | ||
Land, furniture and equipment: | ||
Beginning balance | 184,590 | 504,385 |
Foreign currency translation | (4,924) | 9,932 |
Additions | (5,529) | (26,381) |
Disposals transfers | (3,133) | (303,346) |
Ending balance | $ 171,004 | $ 184,590 |
Land, furniture and equipment_4
Land, furniture and equipment - Net: Additional information (Details) - MXN ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Jun. 30, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Land, furniture and equipment: | ||||
Depreciation expense | $ 67,548 | $ 78,053 | $ 84,895 | |
Proceeds from resale of land | $ 286,283 | |||
Mexico | ||||
Land, furniture and equipment: | ||||
Depreciation expense right-of-use assets | 5,457 | 6,467 | ||
Colombia (Airplan) | ||||
Land, furniture and equipment: | ||||
Depreciation expense right-of-use assets | 0 | 0 | ||
Puerto Rico (Aerostar) | ||||
Land, furniture and equipment: | ||||
Depreciation expense right-of-use assets | 0 | 0 | ||
Aerostar | ||||
Land, furniture and equipment: | ||||
Depreciation expense | 57,693 | 66,930 | 72,474 | |
Airplan | ||||
Land, furniture and equipment: | ||||
Depreciation expense | $ 424 | $ 909 | $ 1,834 |
Land, furniture and equipment_5
Land, furniture and equipment - Net: Right-of-use assets of leasing assets (Details) $ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 MXN ($) | Dec. 31, 2022 USD ($) | Jan. 01, 2022 | Dec. 31, 2021 MXN ($) | |
Disclosure of quantitative information about right-of-use assets [line items] | ||||
Weighted average interest rates of the lessee applied to lease liabilities | 9.20% | 9.70% | ||
Right-of-use assets with property leases | $ 24,451 | $ 18,879 | ||
Lease liabilities | $ 23,547 | $ 24,510 | ||
Corporate offices | ||||
Disclosure of quantitative information about right-of-use assets [line items] | ||||
Lease term of contract | 5 years | 5 years | ||
Amount of monthly operating lease payments | $ 573 | $ 28 | ||
Number of months rent for security deposit | 2 months | 2 months | ||
Transportation equipment | ||||
Disclosure of quantitative information about right-of-use assets [line items] | ||||
Lease term of contract | 48 months | 48 months | ||
Percentage of default monthly interest rate in the event of nonpayment of lease payment | 3% | 3% |
Intangible assets, airport co_3
Intangible assets, airport concessions and goodwill - Net: - Movements of intangible assets of airport concessions (Details) - MXN ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Intangible assets: | ||
Intangible assets and goodwill | $ 53,973,349 | $ 52,182,311 |
Foreign currency translation | (1,842,679) | 34,667 |
Additions | 527,411 | 1,756,371 |
Intangible assets and goodwill | 52,658,081 | 53,973,349 |
Accumulated amortization | ||
Intangible assets: | ||
Intangible assets and goodwill | (15,883,709) | (14,061,413) |
Foreign currency translation | 485,787 | 92,993 |
Additions | (1,994,899) | (1,915,289) |
Intangible assets and goodwill | (17,392,821) | (15,883,709) |
Concessions (Regulated Activity) | ||
Intangible assets: | ||
Intangible assets and goodwill | 54,733,845 | 52,685,526 |
Foreign currency translation | (1,850,332) | (284,573) |
Additions | 134,622 | 219,336 |
Disposals transfers | 3,424,706 | 2,113,556 |
Intangible assets and goodwill | 56,442,841 | 54,733,845 |
Contracts assets | ||
Intangible assets: | ||
Intangible assets and goodwill | 4,745,055 | 3,704,065 |
Foreign currency translation | (19,605) | 8,403 |
Additions | 2,692,694 | 3,146,143 |
Disposals transfers | (3,424,706) | (2,113,556) |
Intangible assets and goodwill | 3,993,438 | 4,745,055 |
Contractor advance | ||
Intangible assets: | ||
Intangible assets and goodwill | 710,197 | 431,805 |
Foreign currency translation | (67) | (104) |
Additions | 278,496 | |
Additions | (332,033) | |
Intangible assets and goodwill | 378,097 | 710,197 |
Licenses Mexico | ||
Intangible assets: | ||
Intangible assets and goodwill | 392,412 | 364,727 |
Additions | 27,027 | 27,685 |
Intangible assets and goodwill | 419,439 | 392,412 |
Commercial Right's (Unregulated Activity) | ||
Intangible assets: | ||
Intangible assets and goodwill | 6,672,307 | 6,490,236 |
Foreign currency translation | (324,598) | 182,071 |
Intangible assets and goodwill | 6,347,709 | 6,672,307 |
Goodwill | Gross carrying amount | ||
Intangible assets: | ||
Intangible assets and goodwill | 2,603,242 | 2,567,365 |
Foreign currency translation | (133,864) | 35,877 |
Intangible assets and goodwill | $ 2,469,378 | $ 2,603,242 |
Intangible assets, airport co_4
Intangible assets, airport concessions and goodwill - Net: - Allocation of goodwill (Details) - MXN ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure by geographical areas: | ||
Goodwill | $ 2,469,378 | $ 2,603,242 |
Colombia (Airplan) | ||
Disclosure by geographical areas: | ||
Goodwill | 1,539,147 | 1,605,598 |
Puerto Rico (Aerostar) | ||
Disclosure by geographical areas: | ||
Goodwill | $ 930,231 | $ 997,644 |
Intangible assets, airport co_5
Intangible assets, airport concessions and goodwill - Net: - Expected probability-weighted cash flow (Details) - MXN ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of geographical areas [line items] | ||
Impairment loss | $ 0 | $ 0 |
CGU Airplan | ||
Disclosure of geographical areas [line items] | ||
Percentage of expected probability-weighted cash flows | 100% | 100% |
CGU Aerostar | ||
Disclosure of geographical areas [line items] | ||
Percentage of expected probability-weighted cash flows | 100% | 100% |
Negative | CGU Airplan | ||
Disclosure of geographical areas [line items] | ||
Percentage of expected probability-weighted cash flows | 15% | 20% |
Negative | CGU Aerostar | ||
Disclosure of geographical areas [line items] | ||
Percentage of expected probability-weighted cash flows | 15% | 15% |
Base | CGU Airplan | ||
Disclosure of geographical areas [line items] | ||
Percentage of expected probability-weighted cash flows | 75% | 70% |
Base | CGU Aerostar | ||
Disclosure of geographical areas [line items] | ||
Percentage of expected probability-weighted cash flows | 75% | 75% |
Positive | CGU Airplan | ||
Disclosure of geographical areas [line items] | ||
Percentage of expected probability-weighted cash flows | 10% | 10% |
Positive | CGU Aerostar | ||
Disclosure of geographical areas [line items] | ||
Percentage of expected probability-weighted cash flows | 10% | 10% |
Intangible assets, airport co_6
Intangible assets, airport concessions and goodwill - Net: - CGU with a significant amount of goodwill (Details) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Colombia (Airplan) | |||
Disclosure by geographical areas: | |||
Discount rate | 15.31% | 8.57% | |
Operating costs and expenses annual average | 4% | 3% | |
Passenger growth rate in the recovery period of each CGU. | 56.80% | 18.96% | 149.80% |
Recovery period (years) | 0 years | 1 year | |
Average growth rate of passengers in the period | |||
After the recovery of passengers for each CGU | 4.79% | 4.90% | |
Hierarchy level of the fair value of the recoverable value of the CGU | 3 | 3 | |
Puerto Rico (Aerostar) | |||
Disclosure by geographical areas: | |||
Discount rate | 10.21% | 9.26% | |
Operating costs and expenses annual average | 3.90% | 3% | |
Passenger growth rate in the recovery period of each CGU. | 6.50% | 99.90% | |
Recovery period (years) | 0 years | 0 years | |
Average growth rate of passengers in the period | |||
After the recovery of passengers for each CGU | 2.50% | 1.70% | |
Hierarchy level of the fair value of the recoverable value of the CGU | 3 | 3 | |
Mexico | |||
Disclosure by geographical areas: | |||
Passenger growth rate in the recovery period of each CGU. | 35% | 76.30% |
Intangible assets, airport co_7
Intangible assets, airport concessions and goodwill - Net: - Additional information (Details) $ in Thousands, $ in Thousands | 1 Months Ended | 6 Months Ended | 12 Months Ended | 36 Months Ended | |||||
May 31, 2019 | May 15, 2008 | Jun. 30, 2019 | Dec. 31, 2019 | Dec. 31, 2022 MXN ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 MXN ($) | Dec. 31, 2020 MXN ($) | Dec. 31, 2022 MXN ($) | |
Disclosure by geographical areas: | |||||||||
Amortisation expense | $ 1,945,184 | $ 1,877,315 | $ 1,820,239 | ||||||
Amortization commercial rights | $ 177,558 | $ 186,638 | 181,545 | ||||||
Explanation of value assigned to key assumption | Taking the base scenario and applying a sensitivity analysis to the discount rate by +1% or -1% in each CGU, cash flow projections would have generated an effect of recognizing an impairment of Ps.843,424 and an excess of Ps.3,725,218, in Aerostar, respectively, and an excess of Ps.235,889 and Ps.424,719 in Airplan, respectively. | Taking the base scenario and applying a sensitivity analysis to the discount rate by +1% or -1% in each CGU, cash flow projections would have generated an effect of recognizing an impairment of Ps.843,424 and an excess of Ps.3,725,218, in Aerostar, respectively, and an excess of Ps.235,889 and Ps.424,719 in Airplan, respectively. | Taking the base scenario and applying a sensitivity analysis to the discount rate by +1% or -1% in each CGU, cash flow projections would have generated an effect of an excess of Ps.61,088 and Ps.4,120,188, in Aerostar, respectively, and Ps.258,900 and Ps.620,260 in Airplan, respectively. | ||||||
Impairment testing on all CGUs considering the entire value of intangible assets, airport concessions and goodwill | $ 2,469,378 | ||||||||
Original concession period for operating rights | 25 years | 50 years | 50 years | ||||||
Airplan | |||||||||
Disclosure by geographical areas: | |||||||||
Original concession period for operating rights | 15 years | 40 years | 40 years | ||||||
Minimum | Airplan | |||||||||
Disclosure by geographical areas: | |||||||||
Original concession period for operating rights | 24 years | 24 years | |||||||
CGU Aerostar | |||||||||
Disclosure by geographical areas: | |||||||||
Explanation of period over which management has projected cash flows | 30 years | 30 years | P31Y | ||||||
Cash payments | $ 2,500 | ||||||||
CGU Aerostar | Positive | |||||||||
Disclosure by geographical areas: | |||||||||
Percentage applied to passenger traffic | 5% | 5% | 5% | ||||||
Amount in excess of cash flow projections | $ 843,424 | $ 61,088 | $ 843,424 | ||||||
CGU Aerostar | Negative | |||||||||
Disclosure by geographical areas: | |||||||||
Percentage applied to passenger traffic | 5% | 5% | 5% | ||||||
Amount in excess of cash flow projections | $ 3,725,218 | $ 4,120,188 | 3,725,218 | ||||||
CGU Airplan | |||||||||
Disclosure by geographical areas: | |||||||||
Explanation of period over which management has projected cash flows | P10Y | P10Y | P11Y | ||||||
CGU Airplan | Positive | |||||||||
Disclosure by geographical areas: | |||||||||
Percentage applied to passenger traffic | 5% | 5% | 10% | ||||||
Amount in excess of cash flow projections | $ 235,889 | $ 258,900 | 235,889 | ||||||
CGU Airplan | Negative | |||||||||
Disclosure by geographical areas: | |||||||||
Percentage applied to passenger traffic | 5% | 5% | 10% | ||||||
Amount in excess of cash flow projections | $ 424,719 | $ 620,260 | $ 424,719 | ||||||
Licences | |||||||||
Disclosure by geographical areas: | |||||||||
Amortisation expense | 49,715 | 37,974 | 29,632 | ||||||
Colombia (Airplan) | |||||||||
Disclosure by geographical areas: | |||||||||
Amortisation expense | 315,848 | 339,676 | 357,934 | ||||||
Amortization commercial rights | $ 99,560 | $ 104,651 | $ 101,795 | ||||||
Percent of obligation to pay consideration on gross income | 19% | 19% | 19% | 19% | |||||
Puerto Rico (Aerostar) | |||||||||
Disclosure by geographical areas: | |||||||||
Amortisation expense | $ 489,041 | $ 486,507 | $ 492,505 | ||||||
Percent of obligation to pay consideration on gross income | 5% | 5% | 5% | 5% | |||||
Mexico | |||||||||
Disclosure by geographical areas: | |||||||||
Amortisation expense | $ 863,183 | $ 759,798 | $ 686,460 | ||||||
Percent of obligation to pay consideration on gross income | 5% | 5% | 5% | 5% |
Accounts payable and accrued _3
Accounts payable and accrued expenses: (Details) - MXN ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Accounts payable and accrued expenses: | ||
Suppliers | $ 307,068 | $ 290,687 |
Taxes payable | 574,311 | 311,847 |
Use rights of assets under concession | 575,598 | 337,087 |
Accounts payable to related parties | 169,696 | 127,901 |
Lease payable | 23,547 | 24,510 |
Salaries payable | 187,209 | 166,089 |
Sundry creditors for services provided | 915,873 | 959,376 |
Accounts payable to contractors | 61,202 | 271,462 |
Total | $ 2,814,504 | $ 2,488,959 |
Bank loans_ Credit lines (Detai
Bank loans: Credit lines (Details) $ in Thousands, $ in Thousands | 12 Months Ended | |||||||
Dec. 31, 2022 MXN ($) | Dec. 31, 2021 MXN ($) | Dec. 31, 2022 COP ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2021 COP ($) | Oct. 15, 2021 MXN ($) | Sep. 29, 2021 MXN ($) | Jun. 29, 2020 MXN ($) | |
Bank loans: | ||||||||
Credit line used | $ 6,415,986 | $ 11,229,606 | ||||||
Principle amortization | (1,498,076) | (4,429,334) | ||||||
Commissions and interest - Net | 17,675 | 27,207 | ||||||
Short Term | 1,492,781 | 224,472 | ||||||
Long-Term | 9,891,961 | 6,598,397 | ||||||
Long- term | 3,442,804 | 6,603,006 | ||||||
Fair value | 4,836,530 | 6,324,474 | ||||||
Mexico | ||||||||
Bank loans: | ||||||||
Credit line used | 4,650,000 | 8,630,000 | ||||||
Principle amortization | (650,000) | (3,980,000) | ||||||
Commissions and interest - Net | (7,865) | (19,278) | ||||||
Short Term | 1,486,817 | 6,964 | ||||||
Long- term | 2,505,318 | 4,623,758 | ||||||
Fair value | 4,160,699 | 4,680,422 | ||||||
Colombia (Airplan) | ||||||||
Bank loans: | ||||||||
Credit line used | 1,765,986 | 2,390,983 | $ 167,897,539 | $ 335,925,853 | ||||
Principle amortization | (848,076) | (240,711) | ||||||
Commissions and interest - Net | 25,540 | 46,485 | ||||||
Short Term | 5,964 | 217,508 | ||||||
Long- term | 937,486 | 1,979,248 | ||||||
Fair value | 675,831 | 1,644,052 | ||||||
Puerto Rico (Aerostar) | ||||||||
Bank loans: | ||||||||
Credit line used | 208,623 | $ 10,000 | ||||||
Principle amortization | (208,623) | |||||||
Santandar | Mexico | ||||||||
Bank loans: | ||||||||
Credit line used | 2,000,000 | |||||||
Principle amortization | (2,000,000) | |||||||
Santandar New | Mexico | ||||||||
Bank loans: | ||||||||
Credit line used | 2,650,000 | 2,650,000 | $ 2,650,000 | |||||
Principle amortization | (650,000) | |||||||
Commissions and interest - Net | (5,999) | (10,716) | ||||||
Short Term | 1,326,362 | 1,062 | ||||||
Long- term | 667,639 | 2,638,222 | ||||||
Fair value | 2,098,793 | 2,660,990 | ||||||
BBVA Bancomer, S. A. | Mexico | ||||||||
Bank loans: | ||||||||
Credit line used | 2,000,000 | 2,000,000 | ||||||
Commissions and interest - Net | (1,866) | (8,562) | ||||||
Short Term | 160,455 | 5,902 | ||||||
Long- term | 1,837,679 | 1,985,536 | ||||||
Fair value | 2,061,906 | 2,019,432 | ||||||
BBVA Bancomer, S.A. New | Mexico | ||||||||
Bank loans: | ||||||||
Credit line used | 1,980,000 | $ 2,000,000 | ||||||
Principle amortization | (1,980,000) | |||||||
Bancolombia | Colombia (Airplan) | ||||||||
Bank loans: | ||||||||
Credit line used | 602,121 | 801,230 | 57,238,256 | 111,750,000,000 | ||||
Principle amortization | (289,119) | (68,086) | ||||||
Commissions and interest - Net | 8,922 | 16,673 | ||||||
Short Term | 2,035 | 74,704 | ||||||
Long- term | 319,889 | 675,113 | ||||||
Fair value | 230,399 | 560,472 | ||||||
Bancolombia one | Colombia (Airplan) | ||||||||
Bank loans: | ||||||||
Credit line used | 40,995 | 8,128,400 | ||||||
Principle amortization | (40,995) | |||||||
Banco Popular De Puerto Rico | Mexico | ||||||||
Bank loans: | ||||||||
Credit line used | $ 1,500,000 | |||||||
Banco Popular De Puerto Rico | Puerto Rico (Aerostar) | ||||||||
Bank loans: | ||||||||
Credit line used | 208,623 | $ 10,000 | ||||||
Principle amortization | (208,623) | |||||||
CorpBanca Columbia | Colombia (Airplan) | ||||||||
Bank loans: | ||||||||
Credit line used | 409,717 | 545,168 | 38,922,014 | 75,990,000 | ||||
Principle amortization | (196,601) | (46,298) | ||||||
Commissions and interest - Net | 6,858 | 11,718 | ||||||
Short Term | 1,383 | 50,191 | ||||||
Long- term | 218,591 | 460,397 | ||||||
Fair value | 156,671 | 381,121 | ||||||
Banco Davivienda | Colombia (Airplan) | ||||||||
Bank loans: | ||||||||
Credit line used | 361,391 | 480,881 | 34,342,946 | 67,049,985 | ||||
Principle amortization | (173,471) | (40,851) | ||||||
Commissions and interest - Net | 5,697 | 10,081 | ||||||
Short Term | 1,220 | 44,471 | ||||||
Long- term | 192,397 | 405,640 | ||||||
Fair value | 138,239 | 336,283 | ||||||
Banco de Bogota | Colombia (Airplan) | ||||||||
Bank loans: | ||||||||
Credit line used | 148,402 | 197,490 | 14,118,353 | 27,564,211 | ||||
Principle amortization | (71,314) | (16,794) | ||||||
Commissions and interest - Net | 1,864 | 3,613 | ||||||
Short Term | 501 | 18,350 | ||||||
Long- term | 78,451 | 165,959 | ||||||
Fair value | 56,830 | 138,250 | ||||||
Banco de Occidente | Colombia (Airplan) | ||||||||
Bank loans: | ||||||||
Credit line used | 148,400 | 197,487 | 14,118,362 | 27,564,228 | ||||
Principle amortization | (71,314) | (16,794) | ||||||
Commissions and interest - Net | 1,859 | 3,497 | ||||||
Short Term | 501 | 18,240 | ||||||
Long- term | 78,444 | 165,949 | ||||||
Fair value | 56,830 | 138,250 | ||||||
Banco Popular | Colombia (Airplan) | ||||||||
Bank loans: | ||||||||
Credit line used | 31,909 | 42,485 | 3,052,194 | 5,959,029 | ||||
Principle amortization | (15,417) | (3,631) | ||||||
Commissions and interest - Net | (97) | (57) | ||||||
Short Term | 108 | 3,755 | ||||||
Long- term | 16,287 | 35,041 | ||||||
Fair value | 12,286 | 29,892 | ||||||
Banco AV Villas | Colombia (Airplan) | ||||||||
Bank loans: | ||||||||
Credit line used | 32,135 | 42,759 | 3,052,707 | 5,960,000 | ||||
Principle amortization | (15,420) | (3,631) | ||||||
Commissions and interest - Net | 539 | 937 | ||||||
Short Term | 108 | 3,954 | ||||||
Long- term | 17,146 | 36,110 | ||||||
Fair value | 12,288 | 29,892 | ||||||
Servicios Financieros | Colombia (Airplan) | ||||||||
Bank loans: | ||||||||
Credit line used | 31,911 | 42,490 | $ 3,052,707 | $ 5,960,000 | ||||
Principle amortization | (15,420) | (3,631) | ||||||
Commissions and interest - Net | (102) | 23 | ||||||
Short Term | 108 | 3,843 | ||||||
Long- term | 16,281 | 35,039 | ||||||
Fair value | $ 12,288 | $ 29,892 |
Bank loans_ Syndicated loan (De
Bank loans: Syndicated loan (Details) $ in Thousands, $ in Thousands | Dec. 31, 2022 COP ($) | Dec. 31, 2022 MXN ($) | Apr. 30, 2022 COP ($) | Apr. 30, 2022 MXN ($) | Dec. 31, 2021 MXN ($) | Jun. 01, 2015 COP ($) | Jun. 01, 2015 MXN ($) |
Bank loans: | |||||||
Borrowings | $ 440,000,000 | $ 1,869,996 | $ 578,144 | $ 440,000,000 | $ 2,897,404 | ||
Prepaid Loan | 149,999,914 | $ 149,999,914 | $ 794,510 | ||||
Bancolombia | |||||||
Bank loans: | |||||||
Borrowings | 150,000,000 | ||||||
Prepaid Loan | 51,136,744 | ||||||
CorpBanca Columbia | |||||||
Bank loans: | |||||||
Borrowings | 102,000,000 | ||||||
Prepaid Loan | 34,772,986 | ||||||
Banco Davivienda | |||||||
Bank loans: | |||||||
Borrowings | 90,000,000 | ||||||
Prepaid Loan | 30,682,039 | ||||||
Banco de Bogota | |||||||
Bank loans: | |||||||
Borrowings | 37,000,000 | ||||||
Prepaid Loan | 12,613,358 | ||||||
Banco de Occidente | |||||||
Bank loans: | |||||||
Borrowings | 37,000,000 | ||||||
Prepaid Loan | 12,613,366 | ||||||
Banco Popular | |||||||
Bank loans: | |||||||
Borrowings | 8,000,000 | ||||||
Prepaid Loan | 2,726,835 | ||||||
Banco AV Villas | |||||||
Bank loans: | |||||||
Borrowings | 8,000,000 | ||||||
Prepaid Loan | 2,727,293 | ||||||
Servicios Financieros | |||||||
Bank loans: | |||||||
Borrowings | 8,000,000 | ||||||
Prepaid Loan | $ 2,727,293 |
Bank loans_ Additional informat
Bank loans: Additional information (Details) $ in Thousands, $ in Thousands, $ in Thousands | 1 Months Ended | 12 Months Ended | |||||||||||||||||
Nov. 29, 2022 MXN ($) | Oct. 15, 2021 MXN ($) | Oct. 13, 2021 MXN ($) | Sep. 29, 2021 MXN ($) | Apr. 26, 2021 MXN ($) | Dec. 30, 2020 MXN ($) | Jun. 29, 2020 MXN ($) | Apr. 01, 2020 MXN ($) | Oct. 19, 2017 MXN ($) | Oct. 31, 2017 MXN ($) | Dec. 31, 2022 MXN ($) | Dec. 31, 2021 MXN ($) | Dec. 31, 2020 MXN ($) | Dec. 31, 2019 MXN ($) | Dec. 31, 2019 COP ($) | Oct. 31, 2021 | Sep. 30, 2021 | Dec. 30, 2020 USD ($) | Apr. 01, 2020 USD ($) | |
Bank loans: | |||||||||||||||||||
Increase (decrease) in fair value measurement, liabilities | $ 605,382 | $ 3,408,442 | $ 535,125,402 | ||||||||||||||||
Bank loans paid | $ 1,498,076 | $ 4,429,334 | $ 245,520 | ||||||||||||||||
Proceeds from borrowings, classified as financing activities | $ 4,650,000 | $ 306,241 | |||||||||||||||||
Points to add interest rate | 1.25% | 1.25% | |||||||||||||||||
Debt coverage ratio | 1.7 | ||||||||||||||||||
Capital one financial indicator ratio | 16% | ||||||||||||||||||
Airplan | |||||||||||||||||||
Bank loans: | |||||||||||||||||||
Debt coverage ratio | 5.7 | 2.5 | |||||||||||||||||
Aerostar | |||||||||||||||||||
Bank loans: | |||||||||||||||||||
Debt coverage ratio | 1 | ||||||||||||||||||
Mexico | |||||||||||||||||||
Bank loans: | |||||||||||||||||||
Points to add interest rate | 7% | 7% | |||||||||||||||||
Colombia (Airplan) | |||||||||||||||||||
Bank loans: | |||||||||||||||||||
Points to add interest rate | 4% | ||||||||||||||||||
BBVA Bancomer, S. A. | |||||||||||||||||||
Bank loans: | |||||||||||||||||||
Original debt | $ 1,500,000 | $ 2,000,000 | |||||||||||||||||
Bank loans paid | $ 1,960,000 | $ 20,000 | |||||||||||||||||
Borrowings, interest rate basis | 28-Day Interbank Equilibrium Interest Rate (28 Day TIIE) plus 1.5% | TIIE rate of 28 days plus 1.25 points. | |||||||||||||||||
Points to add interest rate | 1.50% | 1.25% | |||||||||||||||||
Borrowings, Term | 18 months | 7 years | |||||||||||||||||
Debt applicable margin rate | 1.5 | ||||||||||||||||||
Minimum interest coverage ratio | 3 | ||||||||||||||||||
Debt coverage ratio | 19.3 | 12.2 | |||||||||||||||||
BBVA Bancomer, S. A. | Minimum | |||||||||||||||||||
Bank loans: | |||||||||||||||||||
Debt applicable margin rate | 1.5 | ||||||||||||||||||
BBVA Bancomer, S. A. | Maximum | |||||||||||||||||||
Bank loans: | |||||||||||||||||||
Debt applicable margin rate | 2.5 | ||||||||||||||||||
BBVA Bancomer, S. A. | Mexico | |||||||||||||||||||
Bank loans: | |||||||||||||||||||
Bank loans paid | $ 1,960,000 | ||||||||||||||||||
BBVA Bancomer, S.A. New | |||||||||||||||||||
Bank loans: | |||||||||||||||||||
Original debt | $ 2,000,000 | ||||||||||||||||||
Borrowings, interest rate basis | TIIE rate to 28 days plus an applicable margin | ||||||||||||||||||
Points to add interest rate | 1.50% | ||||||||||||||||||
Borrowings, Term | 7 years | ||||||||||||||||||
Consolidated leverage ratio of borrowings | 0.12 | 1.3 | |||||||||||||||||
Minimum interest coverage ratio | 3 | ||||||||||||||||||
BBVA Bancomer, S.A. New | Minimum | |||||||||||||||||||
Bank loans: | |||||||||||||||||||
Points to add interest rate | 1.40% | ||||||||||||||||||
BBVA Bancomer, S.A. New | Maximum | |||||||||||||||||||
Bank loans: | |||||||||||||||||||
Points to add interest rate | 1.90% | ||||||||||||||||||
Consolidated leverage ratio of borrowings | 3.5 | ||||||||||||||||||
BBVA Bancomer, S.A. New | Net Leverage Index Less Than 1.5X | |||||||||||||||||||
Bank loans: | |||||||||||||||||||
Points to add interest rate | 1.40% | ||||||||||||||||||
BBVA Bancomer, S.A. New | Net Leverage Index Between 1.5X and 2.5X | |||||||||||||||||||
Bank loans: | |||||||||||||||||||
Points to add interest rate | 1.65% | ||||||||||||||||||
BBVA Bancomer, S.A. New | Net Leverage Index Greater Than 2.5X | |||||||||||||||||||
Bank loans: | |||||||||||||||||||
Points to add interest rate | 1.90% | ||||||||||||||||||
BBVA Bancomer, S.A. New | Mexico | |||||||||||||||||||
Bank loans: | |||||||||||||||||||
Borrowings, interest rate basis | 28-day TIIE rate plus an applicable margin | ||||||||||||||||||
Borrowings, Term | 7 years | ||||||||||||||||||
Santandar | |||||||||||||||||||
Bank loans: | |||||||||||||||||||
Original debt | $ 2,000,000 | ||||||||||||||||||
Bank loans paid | $ 2,000,000 | ||||||||||||||||||
Borrowings, interest rate basis | 28-day TIIE rate plus 125 basis points | ||||||||||||||||||
Points to add interest rate | 1.25% | ||||||||||||||||||
Borrowings, Term | 5 years | ||||||||||||||||||
Consolidated leverage ratio of borrowings | 0.12 | 0.3 | |||||||||||||||||
Minimum interest coverage ratio | 3 | ||||||||||||||||||
Debt coverage ratio | 19.3 | 12.2 | |||||||||||||||||
Santandar | Maximum | |||||||||||||||||||
Bank loans: | |||||||||||||||||||
Consolidated leverage ratio of borrowings | 3.5 | ||||||||||||||||||
Santandar | Mexico | |||||||||||||||||||
Bank loans: | |||||||||||||||||||
Bank loans paid | $ 2,000,000 | ||||||||||||||||||
Borrowings, interest rate basis | 28-day TIIE rate plus 150 basis points | ||||||||||||||||||
Points to add interest rate | 1.50% | ||||||||||||||||||
Santandar New | |||||||||||||||||||
Bank loans: | |||||||||||||||||||
Original debt | $ 2,650,000 | ||||||||||||||||||
Bank loans paid | $ 650,000 | ||||||||||||||||||
Borrowings, interest rate basis | 28-day TIIE rate plus 150 basis points | ||||||||||||||||||
Points to add interest rate | 1.50% | ||||||||||||||||||
Banco Popular De Puerto Rico | |||||||||||||||||||
Bank loans: | |||||||||||||||||||
Original debt | $ 399,010 | $ 20,000 | $ 10,000 | ||||||||||||||||
Bank loans paid | $ 239,200 | ||||||||||||||||||
Points to add interest rate | 0.50% | 0.50% | 0.50% | ||||||||||||||||
Borrowings, Term | 3 years | 3 years | |||||||||||||||||
Unused credit line (in percent) | 0.15% | ||||||||||||||||||
Banco Popular De Puerto Rico | Mexico | |||||||||||||||||||
Bank loans: | |||||||||||||||||||
Borrowings, Term | 18 months |
Short and long-term documents_2
Short and long-term documents: (Details) $ in Thousands, $ in Thousands | 12 Months Ended | ||||||
Dec. 31, 2022 MXN ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 MXN ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 MXN ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | |
Long-term debt: | |||||||
Principal amortization | $ (222,568) | $ (220,961) | $ (253,925) | ||||
Long | 9,891,961 | 6,598,397 | |||||
Fair value | 4,836,530 | 6,324,474 | |||||
Senior secured notes due on March 22, 2035 | |||||||
Long-term debt: | |||||||
Original debt | 10,549,929 | 7,207,061 | $ 600,000 | $ 400,000 | |||
Credit line | 10,549,929 | 7,207,061 | 600,000 | $ 400,000 | |||
Interest | (58,185) | $ (2,988) | (34,031) | $ (11,102) | |||
Principal amortization | (222,568) | (220,961) | |||||
Short | 377,215 | 353,672 | |||||
Long | 9,891,961 | 6,598,397 | |||||
Fair value | 9,188,411 | $ 7,619,720 | |||||
Bond One | |||||||
Long-term debt: | |||||||
Original debt | 6,602,407 | 400,000 | |||||
Credit line | 6,602,407 | 400,000 | |||||
Interest | (58,185) | (255) | |||||
Principal amortization | (222,568) | ||||||
Short | 323,993 | ||||||
Long | 5,997,661 | ||||||
Fair value | 6,039,845 | ||||||
Bond Two | |||||||
Long-term debt: | |||||||
Original debt | 3,947,522 | 200,000 | |||||
Credit line | 3,947,522 | $ 200,000 | |||||
Interest | $ (2,733) | ||||||
Short | 53,222 | ||||||
Long | 3,894,300 | ||||||
Fair value | $ 3,148,566 |
Short and long-term documents_3
Short and long-term documents: Additional information (Details) $ in Thousands, $ in Thousands | 1 Months Ended | ||||||||||||
Oct. 20, 2022 | May 22, 2013 | May 31, 2022 USD ($) | Dec. 31, 2022 MXN ($) | Dec. 31, 2022 USD ($) | May 31, 2022 MXN ($) | May 31, 2022 USD ($) | Dec. 31, 2021 MXN ($) | Dec. 31, 2021 USD ($) | Jun. 24, 2015 MXN ($) | Jun. 24, 2015 USD ($) | Dec. 13, 2013 USD ($) | Mar. 22, 2013 MXN ($) | |
Long-term debt: | |||||||||||||
Proportion of interest in subsidiary | 60% | ||||||||||||
Debt coverage ratio | 1.7 | 1.7 | |||||||||||
Aerostar | |||||||||||||
Long-term debt: | |||||||||||||
Notional amount | $ 350,000 | $ 4,471,000 | |||||||||||
Borrowings, interest rate | 6.75% | 6.75% | |||||||||||
Debt coverage ratio | 1 | 1 | |||||||||||
Senior secured notes due on March 22, 2035 | |||||||||||||
Long-term debt: | |||||||||||||
Notional amount | $ 10,549,929 | $ 600,000 | $ 7,207,061 | $ 400,000 | |||||||||
Borrowings, interest rate | 5.75% | ||||||||||||
Debt Instrument, Quoted Yield | 2.39% | ||||||||||||
Spread Credit | 336 | ||||||||||||
Senior secured notes due on March 22, 2035 | Aerostar | |||||||||||||
Long-term debt: | |||||||||||||
Principal Amount With Modified Payment Terms | $ 50,000 | ||||||||||||
Notional amount | $ 3,947,522 | $ 200,000 | $ 737,000 | $ 50,000 | |||||||||
Debt Instrument, Quoted Yield | 4.92% |
Stockholders' Equity_ (Details)
Stockholders' Equity: (Details) - MXN ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Stockholders' Equity | ||
Total shares | 300,000,000 | 300,000,000 |
Capital stock | $ 7,767,276 | $ 7,767,276 |
B Series | ||
Stockholders' Equity | ||
Total shares | 277,050,000 | 277,050,000 |
Capital stock | $ 7,173,079 | $ 7,173,079 |
BB Series | ||
Stockholders' Equity | ||
Total shares | 22,950,000 | 22,950,000 |
Capital stock | $ 594,197 | $ 594,197 |
Stockholders' Equity_ Additiona
Stockholders' Equity: Additional information (Details) - MXN ($) $ in Thousands | 12 Months Ended | |||
Apr. 23, 2020 | Dec. 31, 2022 | Dec. 31, 2021 | Apr. 20, 2022 | |
Stockholders' Equity | ||||
Capital stock | $ 7,767,276 | $ 7,767,276 | ||
Capital redemption reserve | 11,554,572 | 11,554,572 | ||
Dividend payables | $ 2,709,000 | |||
Extraordinary Dividend | $ 1,800,000 | |||
Dividends paid, classified as financing activities | $ 2,463,000 | $ 4,509,000 | 2,463,000 | |
Dividend Declared, Tax on Dividends, Percentage | 42.86% | |||
Retained earnings | $ 20,731,444 | 15,551,586 | ||
Additional paid-in capital | 53,329,606 | 48,586,919 | ||
Capital Contribution | $ 20,812,899 | 17,347,482 | ||
Percentage of series stock in total capital stock | 15% | |||
Fixed Capital Shares | ||||
Stockholders' Equity | ||||
Capital stock | $ 1,000 | 1,000 | ||
Variable Capital Shares | ||||
Stockholders' Equity | ||||
Capital stock | $ 7,766,276 | $ 7,766,276 | ||
Class Two Common Stock | ||||
Stockholders' Equity | ||||
Number of shares issued | 0 | 0 |
Income tax incurred and defer_3
Income tax incurred and deferred: IT Provision (Details) - MXN ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure by geographical areas: | |||
IT provision | $ 3,438,809 | $ 1,728,507 | $ 729,155 |
Mexico | |||
Disclosure by geographical areas: | |||
Current IT | 2,961,187 | 1,749,031 | 631,471 |
Deferred IT | (169,080) | (128,254) | 117,924 |
IT provision | 2,792,107 | 1,620,777 | 749,395 |
Puerto Rico (Aerostar) | |||
Disclosure by geographical areas: | |||
Current IT | 3,703 | 886 | (16) |
Deferred IT | 38,160 | 37,979 | 42,546 |
IT provision | 41,863 | 38,865 | 42,530 |
Colombia (Airplan) | |||
Disclosure by geographical areas: | |||
Current IT | 377,437 | 74,862 | 2,916 |
Deferred IT | 227,402 | (5,997) | (65,686) |
IT provision | $ 604,839 | $ 68,865 | $ (62,770) |
Income tax incurred and defer_4
Income tax incurred and deferred: Reconciliation (Details) - MXN ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of geographical areas [line items] | |||
Consolidated income before IT and joint venture equity method: | $ 14,084,733 | $ 8,126,035 | $ 2,855,692 |
Consolidated income before IT and joint venture equity method: | 14,084,733 | 8,126,035 | 2,855,692 |
Net (loss) income before taxes of Airplan and Aerostar | (3,183,555) | (1,418,186) | (65,672) |
Net (loss) income before taxes of subsidiaries in Mexico not subject to IT | (140,921) | (170,247) | 4,337 |
Income before provisions for income taxes | $ 10,760,257 | $ 6,537,602 | $ 2,794,357 |
Statutory IT rate | 30% | 30% | 30% |
IT that would result from applying the IT rate to book profit before income taxes | $ 3,228,077 | $ 1,961,281 | $ 838,307 |
Non-deductible items and other permanent differences | 14,133 | 7,853 | 10,496 |
Annual adjustment for tax inflation | (82,517) | (33,603) | (18,958) |
Accounting disconnect inflation | (367,587) | (314,754) | (80,450) |
IT provision | $ 3,438,809 | $ 1,728,507 | $ 729,155 |
Effective IT rate | 32% | 26% | 26% |
Puerto Rico (Aerostar) | |||
Disclosure of geographical areas [line items] | |||
Statutory IT rate | 10% | ||
Effect by difference in rate of IT | $ 41,863 | $ 38,865 | $ 42,530 |
IT provision | $ 41,863 | $ 38,865 | $ 42,530 |
Colombia (Airplan) | |||
Disclosure of geographical areas [line items] | |||
Statutory IT rate | 35% | 31% | 32% |
Effect by difference in rate of IT | $ 604,839 | $ 68,865 | $ (62,770) |
IT provision | $ 604,839 | $ 68,865 | $ (62,770) |
Income tax incurred and defer_5
Income tax incurred and deferred: Temporary differences (Details) - MXN ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Income tax: | |||
Deferred tax assets | $ 217,988 | $ 264,283 | |
Deferred tax liabilities | (3,190,510) | (3,308,915) | |
Deferred income tax liability - Net | (2,972,522) | (3,044,632) | $ (3,165,145) |
Temporary differences | |||
Income tax: | |||
Deferred tax assets | 72,439 | 57,201 | |
Fair Value of Long term Debt | |||
Income tax: | |||
Deferred tax assets | 84,774 | 149,120 | |
Allowance for doubtful accounts [member] | |||
Income tax: | |||
Deferred tax assets | 60,775 | 57,962 | |
Deferred income tax liability - Net | 60,775 | 57,962 | $ 66,609 |
Fixed and intangible assets | |||
Income tax: | |||
Deferred tax liabilities | (2,898,475) | (3,111,403) | |
Temporary assets | |||
Income tax: | |||
Deferred tax liabilities | (291,829) | (197,104) | |
Amortization of expenses | |||
Income tax: | |||
Deferred tax liabilities | (206) | (408) | |
Colombia (Airplan) | Fixed and intangible assets | |||
Income tax: | |||
Deferred tax liabilities | (701,966) | (587,845) | |
Puerto Rico (Aerostar) | Fixed and intangible assets | |||
Income tax: | |||
Deferred tax liabilities | $ (1,083,114) | $ (1,100,265) |
Income tax incurred and defer_6
Income tax incurred and deferred: Movement (Details) - MXN ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Income tax: | ||
Beginning Balances | $ 3,044,632 | $ 3,165,145 |
IFRS 16 adoption adjustment Conversion revaluation effect Airplan and Aerostar | (168,592) | (24,241) |
Increase (decrease) in deferred tax liability (asset) | 96,482 | (96,272) |
Ending Balances | 2,972,522 | 3,044,632 |
Colombia (Airplan) | ||
Income tax: | ||
Increase (decrease) in deferred tax liability (asset) | 227,402 | (5,997) |
Mexico | ||
Income tax: | ||
Increase (decrease) in deferred tax liability (asset) | (169,080) | (128,254) |
Puerto Rico (Aerostar) | ||
Income tax: | ||
Increase (decrease) in deferred tax liability (asset) | 38,160 | 37,979 |
Allowance for doubtful accounts [member] | ||
Income tax: | ||
Beginning Balances | (57,962) | (66,609) |
Increase (decrease) in deferred tax liability (asset) | (2,813) | 8,647 |
Ending Balances | (60,775) | (57,962) |
Allowance for doubtful accounts [member] | Colombia (Airplan) | ||
Income tax: | ||
Increase (decrease) in deferred tax liability (asset) | (1,123) | 11,390 |
Allowance for doubtful accounts [member] | Mexico | ||
Income tax: | ||
Increase (decrease) in deferred tax liability (asset) | (1,690) | (2,743) |
Concessioned assets | ||
Income tax: | ||
Beginning Balances | 3,078,500 | 3,101,892 |
Increase (decrease) in deferred tax liability (asset) | (96,776) | (23,392) |
Ending Balances | 2,981,724 | 3,078,500 |
Concessioned assets | Colombia (Airplan) | ||
Income tax: | ||
Increase (decrease) in deferred tax liability (asset) | 9,298 | 28,642 |
Concessioned assets | Mexico | ||
Income tax: | ||
Increase (decrease) in deferred tax liability (asset) | (145,056) | (91,743) |
Concessioned assets | Puerto Rico (Aerostar) | ||
Income tax: | ||
Increase (decrease) in deferred tax liability (asset) | 38,982 | 39,709 |
Unrealised foreign exchange gains (losses) | ||
Income tax: | ||
Beginning Balances | 32,903 | 96,740 |
IFRS 16 adoption adjustment Conversion revaluation effect Airplan and Aerostar | (117,978) | (61,018) |
Increase (decrease) in deferred tax liability (asset) | 1,826 | (2,819) |
Ending Balances | (83,249) | 32,903 |
Unrealised foreign exchange gains (losses) | Colombia (Airplan) | ||
Income tax: | ||
Increase (decrease) in deferred tax liability (asset) | 2,648 | (1,089) |
Unrealised foreign exchange gains (losses) | Puerto Rico (Aerostar) | ||
Income tax: | ||
Increase (decrease) in deferred tax liability (asset) | (822) | (1,730) |
Other temporary differences | ||
Income tax: | ||
Beginning Balances | (8,809) | 33,122 |
IFRS 16 adoption adjustment Conversion revaluation effect Airplan and Aerostar | (50,614) | 36,777 |
Increase (decrease) in deferred tax liability (asset) | 194,245 | (78,708) |
Ending Balances | 134,822 | (8,809) |
Other temporary differences | Colombia (Airplan) | ||
Income tax: | ||
Increase (decrease) in deferred tax liability (asset) | 216,579 | (44,940) |
Other temporary differences | Mexico | ||
Income tax: | ||
Increase (decrease) in deferred tax liability (asset) | $ (22,334) | $ (33,768) |
Income tax incurred and defer_7
Income tax incurred and deferred: Aerostar Tax loss Carry forwards (Details) - Dec. 31, 2022 $ in Thousands, $ in Thousands | MXN ($) | USD ($) |
Income tax: | ||
Unused tax losses for which no deferred tax asset recognised | $ 166,861 | |
Tax loss Year 2013 Expiring in 2023 | ||
Income tax: | ||
Unused tax losses for which no deferred tax asset recognised | $ 22,832 | |
Tax loss Year 2014 Expiring in 2024 | ||
Income tax: | ||
Unused tax losses for which no deferred tax asset recognised | 24,189 | |
Tax loss Year 2015 Expiring in 2025 | ||
Income tax: | ||
Unused tax losses for which no deferred tax asset recognised | 28,532 | |
Tax loss Year 2016 Expiring in 2026 | ||
Income tax: | ||
Unused tax losses for which no deferred tax asset recognised | 27,736 | |
Tax Loss Year 2017 Expiring In 2027 | ||
Income tax: | ||
Unused tax losses for which no deferred tax asset recognised | 22,247 | |
Tax Loss Year 2018 Expiring In 2028 | ||
Income tax: | ||
Unused tax losses for which no deferred tax asset recognised | 10,600 | |
Tax Loss Year 2020 Expiring In 2030 | ||
Income tax: | ||
Unused tax losses for which no deferred tax asset recognised | $ 30,725 |
Income tax incurred and defer_8
Income tax incurred and deferred: Temporal differences (Details) - MXN ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Income tax incurred and deferred: | |||
Undistributed utilities | $ 4,911,412 | $ 4,903,164 | |
Tax rate | 30% | 30% | 30% |
Deferred income tax liabilities unrecognized with the previous temporary differences | $ 1,473,424 | $ 1,470,949 |
Income tax incurred and defer_9
Income tax incurred and deferred: Additional information (Details) - MXN ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Share of profit (loss) of associates accounted for using equity method | $ 9,997,669,000 | $ 6,045,955,000 | $ 2,163,740,000 |
Tax benefit arising from previously unrecognised tax loss, tax credit or temporary difference of prior period used to reduce current tax expense | $ 127,046,000 | $ 192,040,000 | $ 3,196,000 |
Applicable tax rate | 30% | 30% | 30% |
Investments rate of return | 20% | 20% | |
Tax expense (income) | $ 3,438,809,000 | $ 1,728,507,000 | $ 729,155,000 |
Income taxes recovery | 416,000 | ||
Current tax assets, current | 181,619,000 | 142,970,000 | |
Aerostar | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Share of profit (loss) of associates accounted for using equity method | $ 370,213,000 | $ 88,577,000 | |
Tax benefit arising from previously unrecognised tax loss, tax credit or temporary difference of prior period used to reduce current tax expense | $ 660,404,000 | ||
Applicable tax rate | 10% | 10% | 10% |
Airplan | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Share of profit (loss) of associates accounted for using equity method | $ 1,078,391,000 | $ 241,490,000 | $ 9,133,000 |
Applicable tax rate | 35% | 31% | 32% |
Current tax expense (income) | $ 377,437,000 | $ 748.62 | $ 2,916,000 |
Colombia (Airplan) | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Applicable tax rate | 35% | 31% | 32% |
Current tax expense (income) | $ 377,437,000 | $ 74,862,000 | $ 2,916,000 |
Tax expense (income) | 604,839,000 | 68,865,000 | (62,770,000) |
Asset tax | $ 227,402,000 | $ (5,997,000) | $ (65,686,000) |
Percentage of net income on net worth | 3.50% | ||
Percentage of presumptive income | 0% | 0.50% | |
Puerto Rico (Aerostar) | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Tax benefit arising from previously unrecognised tax loss, tax credit or temporary difference of prior period used to reduce current tax expense | $ 333,191,000 | $ 79,720,000 | |
Applicable tax rate | 10% | ||
Current tax expense (income) | $ 3,703,000 | 886,000 | $ (16,000) |
Tax expense (income) | 41,863,000 | 38,865,000 | 42,530,000 |
Asset tax | $ 38,160,000 | $ 37,979,000 | $ 42,546,000 |
Balances and transactions wit_3
Balances and transactions with related parties: Receivable/Payable (Details) - MXN ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Related parties: | ||
Payables to related parties | $ 169,696 | $ 127,901 |
Inversiones y Tecnicas Aeroportuarias, S. A. de C. V. | ||
Related parties: | ||
Payables to related parties | $ 169,696 | 127,446 |
Key Management | ||
Related parties: | ||
Payables to related parties | $ 455 |
Balances and transactions wit_4
Balances and transactions with related parties: Transactions (Details) - MXN ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Related parties: | |||
Revenue | $ 25,313,882 | $ 18,784,661 | $ 12,624,731 |
Technical assistance (Note 14.4) | (643,891) | (391,698) | (175,615) |
Leasing | (5,457) | (6,467) | |
Autobuses de Oriente | |||
Related parties: | |||
Revenue | 15,899 | 11,800 | 7,968 |
Autobuses Golfo Pacfico | |||
Related parties: | |||
Revenue | 7,616 | 6,468 | 4,862 |
Coordinados de Mxico de Oriente, S. A. de C. V. | |||
Related parties: | |||
Revenue | 189 | 162 | 164 |
Related parties | |||
Related parties: | |||
Leasing | $ (4,610) | (5,863) | (6,061) |
Cleaning services | $ (12,307) | $ (11,848) |
Balances and transactions wit_5
Balances and transactions with related parties: Compensation of key personnel (Details) - Key Management - MXN ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Related parties: | |||
Short term salaries and other benefits paid to key personnel (Note 17.17) | $ 166,922 | $ 122,271 | $ 137,272 |
Fees paid to the board of directors and committees | $ 8,671 | $ 8,144 | $ 8,571 |
Balances and transactions wit_6
Balances and transactions with related parties: Additional information (Details) - MXN ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of transactions between related parties [line items] | |||
Explanation of nature and extent of renewal and termination options | The agreement is for an initial term of 15 years and renews automatically for subsequent five year periods, unless one of the parts issues the other a cancellation notice within a determined term prior to the programmed expiration date. The Company can only exercise its termination right through a resolution of the shareholders | ||
Explanation of significant terms of service concession arrangement that may affect amount, timing and certainty of future cash flows | In accordance with the contract, the Company agreed to pay an annual compensation equivalent to the higher of a fixed amount or 5% of the consolidated income of the Company before deducting the compensation for technical assistance and before the comprehensive financial result, IT, depreciation and amortization, determined in accordance with financial reporting standards applicable in Mexico. Beginning in 2003, the minimum fixed amount is of USD2 million (approximately Ps.37.7 million). | ||
Technical assistance amount | $ 643,891 | $ 391,698 | $ 175,615 |
Inversiones y Tecnicas Aeroportuarias, S. A. de C. V. | |||
Disclosure of transactions between related parties [line items] | |||
Technical assistance amount | $ 643,891 | $ 391,698 | $ 175,615 |
Commitments and contingencies_2
Commitments and contingencies: Future payments (Details) $ in Thousands | Dec. 31, 2022 MXN ($) |
Commitments: | |
Minimum lease payments payable under non-cancellable operating lease | $ 17,435 |
Not Later Than One Year Member | |
Commitments: | |
Minimum lease payments payable under non-cancellable operating lease | 7,472 |
Later than one year | |
Commitments: | |
Minimum lease payments payable under non-cancellable operating lease | $ 9,963 |
Commitments and contingencies_3
Commitments and contingencies: Investment commitments (Details) $ in Thousands | Dec. 31, 2022 MXN ($) |
Commitments and contingencies: | |
Contractual capital commitments | $ 572,716 |
Commitments and contingencies_4
Commitments and contingencies: Additional information (Details) $ in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||
Aug. 21, 2019 MXN ($) | May 21, 2015 MXN ($) | May 21, 2015 USD ($) | Jun. 30, 2021 MXN ($) | Dec. 31, 2022 MXN ($) room | Dec. 31, 2021 MXN ($) | Dec. 22, 2022 MXN ($) | Dec. 22, 2022 USD ($) | Aug. 19, 2020 MXN ($) | Feb. 29, 2012 MXN ($) | |
Commitments and contingencies: | ||||||||||
Contingent rents recognised as expense | $ 582 | $ 30 | ||||||||
Leasing | $ 5,457 | $ 6,467 | ||||||||
Number of hotel rooms | room | 450 | |||||||||
Proceeds from resale of land | $ 286,283 | |||||||||
Percentage of amortization of concessionaries per year | 15% | |||||||||
Estimated financial effect | $ 73,000 | |||||||||
Period that Amparo proceedings will resolve | 2 years | |||||||||
Deferment investments | $ 2,292,355 | |||||||||
Puerto Rico (Aerostar) | ||||||||||
Commitments and contingencies: | ||||||||||
Amount awarded from declaratory judgment of deposited amount by oil sellers | $ 300,384 | $ 15,641 | ||||||||
Land in Huatulco | ||||||||||
Commitments and contingencies: | ||||||||||
Proceeds from resale of land | $ 286,283 | $ 286,283 | ||||||||
Aeropuerto de Cancun, S. A. de C. V. | ||||||||||
Commitments and contingencies: | ||||||||||
Estimated financial effect | $ 865,000 | |||||||||
Aeropuerto de Cancun, S. A. de C. V. | Legal proceedings contingent liability | ||||||||||
Commitments and contingencies: | ||||||||||
Legal proceedings provision | $ 116,000 |
Summary of the main accountin_4
Summary of the main accounting policies: Consolidation (Details) | 12 Months Ended | |||
Oct. 20, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Subsidiary | ||||
Proportion of interest in subsidiary | 60% | |||
Aeropuerto de Cancun, S. A. de C. V. | ||||
Subsidiary | ||||
Proportion of interest in subsidiary | 100% | 100% | 100% | |
Aeropuerto de Cozumel, S. A. de C. V. | ||||
Subsidiary | ||||
Proportion of interest in subsidiary | 100% | 100% | ||
Aeropuerto de Mrida, S. A. de C. V. | ||||
Subsidiary | ||||
Proportion of interest in subsidiary | 100% | 100% | ||
Aeropuerto de Huatulco, S. A. de C. V. | ||||
Subsidiary | ||||
Proportion of interest in subsidiary | 100% | 100% | ||
Aeropuerto de Oaxaca, S. A. de C. V. | ||||
Subsidiary | ||||
Proportion of interest in subsidiary | 100% | 100% | ||
Aeropuerto de Veracruz, S. A. de C. V. | ||||
Subsidiary | ||||
Proportion of interest in subsidiary | 100% | 100% | ||
Aeropuerto de Villahermosa, S. A. de C. V. | ||||
Subsidiary | ||||
Proportion of interest in subsidiary | 100% | 100% | ||
Aeropuerto de Tapachula, S. A. de C. V. | ||||
Subsidiary | ||||
Proportion of interest in subsidiary | 100% | 100% | ||
Aeropuerto de Minatitln, S. A. de C. V. | ||||
Subsidiary | ||||
Proportion of interest in subsidiary | 100% | 100% | ||
Cancun Airport Services, S. A. de C. V. | ||||
Subsidiary | ||||
Proportion of interest in subsidiary | 100% | 100% | ||
Aerostar Airport Holdings, LLC | ||||
Subsidiary | ||||
Proportion of interest in subsidiary | 60% | 60% | ||
Sociedad Operadora de Aeropuertos Centro Norte, S.A. | ||||
Subsidiary | ||||
Proportion of interest in subsidiary | 100% | 100% | ||
RH Asur, S. A. de C. V. | ||||
Subsidiary | ||||
Proportion of interest in subsidiary | 100% | 100% | ||
Servicios Aeroportuarios del Sureste, S. A. de C. V. | ||||
Subsidiary | ||||
Proportion of interest in subsidiary | 100% | 100% | ||
Asur FBO, S. A. de C. V. | ||||
Subsidiary | ||||
Proportion of interest in subsidiary | 100% | 100% | ||
Caribbean Logistics, S. A. de C. V. | ||||
Subsidiary | ||||
Proportion of interest in subsidiary | 100% | 100% | ||
Cargo RF, S. A. de C. V | ||||
Subsidiary | ||||
Proportion of interest in subsidiary | 100% | 100% |
Summary of the main accountin_5
Summary of the main accounting policies: Condensed statement of financial position (Details) - MXN ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Consolidated Statements of Financial Position | ||||
Cash and cash equivalents | $ 13,174,991 | $ 8,770,062 | $ 5,192,628 | $ 6,192,679 |
Other current assets | 285,560 | 311,282 | ||
Total current assets | 18,080,170 | 11,662,100 | ||
Financial liabilities: | ||||
Current liabilities | (5,563,973) | (3,786,398) | ||
Land, furniture and equipment | 171,004 | 184,590 | ||
Long-term debt | (9,891,961) | (6,598,397) | ||
Deferred income tax - Net | (2,972,522) | (3,044,632) | (3,165,145) | |
Shareholders' equity | 49,015,607 | 45,770,056 | 41,693,206 | $ 38,771,177 |
Consolidated Statements of Comprehensive Income - by Expense Function | ||||
Revenue | 25,313,882 | 18,784,661 | 12,624,731 | |
Other income | 346,232 | 158,881 | ||
IT provision | 3,438,809 | 1,728,507 | 729,155 | |
Foreign currency translation | (1,767,962) | 144,217 | 800,638 | |
Total comprehensive income | 8,876,129 | 6,539,850 | 2,922,029 | |
Aerostar Airport Holdings, LLC | ||||
Consolidated Statements of Financial Position | ||||
Cash and cash equivalents | 2,334,403 | 2,295,087 | 804,634 | |
Restricted cash | 1,272,106 | 123,081 | 5,055 | |
Other current assets | 528,297 | 183,284 | 566,031 | |
Total current assets | 4,134,806 | 2,601,452 | 1,375,720 | |
Financial liabilities: | ||||
Current liabilities | (1,184,023) | (804,548) | (606,433) | |
Working capital | 2,950,783 | 1,796,904 | 769,287 | |
Land, furniture and equipment | 115,798 | 126,494 | 151,971 | |
Intangible assets, airport concessions - Net | 12,920,453 | 13,656,912 | 13,535,370 | |
Other long term assets | 90,777 | 64,442 | 32,578 | |
Long-term debt | (9,891,961) | (6,952,068) | (7,171,278) | |
Accounts payable to the Company | (104,065) | |||
Other long-term liabilities | (18,265) | (19,378) | (19,864) | |
Deferred income tax - Net | (547,480) | (518,578) | (448,829) | |
Shareholders' equity | 5,620,105 | 8,154,728 | 6,745,170 | |
Consolidated Statements of Comprehensive Income - by Expense Function | ||||
Revenue | 4,110,028 | 3,652,835 | 2,902,238 | |
Operating costs and expenses | (2,146,680) | (1,939,555) | (1,956,081) | |
Other income | 346,232 | 158,906 | ||
Comprehensive financial cost - Net | (459,471) | (453,326) | (495,443) | |
Net income tax | (41,863) | (57,529) | (60,684) | |
IT provision | 1,808,246 | 1,202,425 | 548,936 | |
Foreign currency translation | (95,881) | (207,132) | (301,695) | |
Total comprehensive income | $ 1,712,365 | $ 995,293 | $ 247,241 |
Summary of the main accountin_6
Summary of the main accounting policies: Land, furniture and equipment (Details) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Jun. 30, 2021 MXN ($) | Dec. 31, 2022 MXN ($) room | Dec. 31, 2021 MXN ($) | |
Land, furniture and equipment: | |||
Number of hotel rooms | room | 450 | ||
Proceeds from resale of land | $ 286,283 | ||
Land in Huatulco | |||
Land, furniture and equipment: | |||
Proceeds from resale of land | $ 286,283 | $ 286,283 | |
Furniture equipment | Minimum | |||
Land, furniture and equipment: | |||
Useful life measured as period of time, property, plant and equipment | 10 years | 10 years | |
Furniture equipment | Maximum | |||
Land, furniture and equipment: | |||
Useful life measured as period of time, property, plant and equipment | 20 years | 20 years | |
Machinery | Minimum | |||
Land, furniture and equipment: | |||
Useful life measured as period of time, property, plant and equipment | 10 years | 10 years | |
Machinery | Maximum | |||
Land, furniture and equipment: | |||
Useful life measured as period of time, property, plant and equipment | 20 years | 20 years | |
Computer equipment | Minimum | |||
Land, furniture and equipment: | |||
Useful life measured as period of time, property, plant and equipment | 20 years | 20 years | |
Computer equipment | Maximum | |||
Land, furniture and equipment: | |||
Useful life measured as period of time, property, plant and equipment | 33 years | 33 years | |
Transportation equipment | Minimum | |||
Land, furniture and equipment: | |||
Useful life measured as period of time, property, plant and equipment | 20 years | 20 years | |
Transportation equipment | Maximum | |||
Land, furniture and equipment: | |||
Useful life measured as period of time, property, plant and equipment | 25 years | 25 years | |
Improvements to leased premises [Member] | |||
Land, furniture and equipment: | |||
Useful life measured as period of time, property, plant and equipment | 10 years | 10 years |
Summary of the main accountin_7
Summary of the main accounting policies: Licenses and commercial direct operation (Details) | 12 Months Ended |
Dec. 31, 2022 | |
Licenses Mexico | |
Disclosure of detailed information about intangible assets [line items] | |
Useful lives or amortisation rates, intangible assets other than goodwill | 26 |
ODC Mexico | |
Disclosure of detailed information about intangible assets [line items] | |
Useful lives or amortisation rates, intangible assets other than goodwill | 26 |
Commercial Right's (Unregulated Activity) | Aerostar | |
Disclosure of detailed information about intangible assets [line items] | |
Useful lives or amortisation rates, intangible assets other than goodwill | 30 |
Commercial Right's (Unregulated Activity) | Airplan | |
Disclosure of detailed information about intangible assets [line items] | |
Useful lives or amortisation rates, intangible assets other than goodwill | 10 |
Summary of the main accountin_8
Summary of the main accounting policies: Additional information (Details) $ / shares in Units, $ in Thousands, $ in Thousands, shares in Millions | 12 Months Ended | ||||||||
Oct. 20, 2022 MXN ($) | Oct. 20, 2022 USD ($) | Feb. 20, 2020 MXN ($) | May 15, 2008 | Dec. 31, 2022 MXN ($) $ / shares shares | Dec. 31, 2021 MXN ($) $ / shares shares | Dec. 31, 2020 MXN ($) $ / shares shares | Apr. 14, 2023 | Feb. 20, 2020 USD ($) | |
Revenue From Regulated Services | |||||||||
Closing foreign exchange rate | 19.47 | 20.47 | 18.02 | ||||||
Investments in joint ventures accounted for using equity method | $ 10,266 | $ 10,689 | |||||||
Restricted Cash and Cash Equivalents for Passenger Facility Charge Authorized by FAA | $ 96,485 | $ 123,081 | |||||||
Original concession period for operating rights | 25 years | 50 years | |||||||
Concession period for operating rights | 26 years | ||||||||
Applicable tax rate | 30% | 30% | 30% | ||||||
Termination benefits expense | $ 4,343 | $ 2,866 | $ 2,382 | ||||||
Income from continuing operations attributable to owners of parent | $ 9,986,548 | $ 5,983,747 | $ 1,972,319 | ||||||
Weighted average number of ordinary shares outstanding | shares | 300 | 300 | 300 | ||||||
Basic earnings per share | $ / shares | $ 33.29 | $ 19.95 | $ 6.57 | ||||||
Reimbursement of contributed capital | $ 2,113,113 | $ 165,625 | |||||||
Dividends | $ 690,833 | $ 34,375 | $ 4,509,000 | $ 2,463,000 | |||||
Percentage of ownership interest in subsidiary | 60% | 60% | |||||||
Mexico | |||||||||
Revenue From Regulated Services | |||||||||
Restricted cash | 148,621 | ||||||||
Puerto Rico (Aerostar) | |||||||||
Revenue From Regulated Services | |||||||||
Restricted cash | $ 1,175,622 | ||||||||
Applicable tax rate | 10% | ||||||||
Airport Development Group, LLC | |||||||||
Revenue From Regulated Services | |||||||||
Percentage Of Equity Interest Acquired | 50% | ||||||||
Investments in joint ventures accounted for using equity method | $ 500 | ||||||||
Avialliance partner | |||||||||
Revenue From Regulated Services | |||||||||
Percentage of profit sharing | 40% | 40% | |||||||
Aeropuerto de Cancun, S. A. de C. V. | |||||||||
Revenue From Regulated Services | |||||||||
Investments in joint ventures accounted for using equity method | $ 10,556 | ||||||||
Percentage of ownership interest in subsidiary | 100% | 100% | 100% | ||||||
Aerostar Airport Holdings, LLC | |||||||||
Revenue From Regulated Services | |||||||||
Restricted cash | $ 1,272,106 | $ 123,081 | $ 5,055 | ||||||
Percentage of profit sharing | 60% | 60% | |||||||
Percentage of ownership interest in subsidiary | 60% | 60% | |||||||
Airplan | |||||||||
Revenue From Regulated Services | |||||||||
Closing foreign exchange rate | $ / shares | 248.48 | 198.28 | |||||||
Original concession period for operating rights | 15 years | 40 years | |||||||
Applicable tax rate | 35% | 31% | 32% | ||||||
Percentage of ownership interest in subsidiary | 100% | ||||||||
Aerostar | |||||||||
Revenue From Regulated Services | |||||||||
Closing foreign exchange rate | $ / shares | 19.47 | 20.47 | |||||||
Restricted cash | $ 96,485 | ||||||||
Original concession period for operating rights | 40 years | ||||||||
Concession period for operating rights | 30 years | ||||||||
Applicable tax rate | 10% | 10% | 10% | ||||||
Percentage of ownership interest in subsidiary | 60% | ||||||||
Aerostar | Puerto Rico (Aerostar) | |||||||||
Revenue From Regulated Services | |||||||||
Restricted cash | $ 1,175,622 | ||||||||
Minimum | Airplan | |||||||||
Revenue From Regulated Services | |||||||||
Original concession period for operating rights | 24 years |
Financial risk management_ Exch
Financial risk management: Exchange rate risk (Details) - MXN ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Financial risk management: | ||
Asset | $ 70,919,521 | $ 65,830,728 |
Liability | (21,903,914) | (20,060,672) |
Exchange rate risk | ||
Financial risk management: | ||
Asset | 372,991 | 124,656 |
Liability | (5,520) | (7,580) |
Net Monetary Assets | $ 367,471 | $ 117,076 |
Financial risk management_ Liqu
Financial risk management: Liquidity position (Details) $ in Thousands, $ in Thousands, $ in Thousands | 1 Months Ended | 12 Months Ended | ||||||||||||||||||
Oct. 13, 2021 MXN ($) | Apr. 26, 2021 MXN ($) | Dec. 30, 2020 | Jun. 29, 2020 | May 12, 2020 MXN ($) | May 12, 2020 USD ($) | Apr. 23, 2020 MXN ($) | Apr. 01, 2020 MXN ($) | Oct. 31, 2017 | Dec. 31, 2022 MXN ($) | Dec. 31, 2021 MXN ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 MXN ($) | Dec. 31, 2020 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2022 COP ($) | Aug. 19, 2020 MXN ($) | Dec. 31, 2019 MXN ($) | Jun. 01, 2015 MXN ($) | Jun. 01, 2015 COP ($) | |
Disclosure of risk management strategy related to hedge accounting [line items] | ||||||||||||||||||||
Cash and equivalents | $ 13,174,991 | $ 8,770,062 | $ 5,192,628 | $ 6,192,679 | ||||||||||||||||
Total Debt | 1,869,996 | 578,144 | $ 440,000,000 | $ 2,897,404 | $ 440,000,000 | |||||||||||||||
Debt term short | 13,334,765 | 13,201,403 | ||||||||||||||||||
Debt term long | 15,204,761 | 13,779,547 | ||||||||||||||||||
Deferment investments | $ 2,292,355 | |||||||||||||||||||
Dividends | $ 2,463,000 | 4,509,000 | 2,463,000 | |||||||||||||||||
Disposal of loans | 1,498,076 | 4,429,334 | 245,520 | |||||||||||||||||
Mexico | ||||||||||||||||||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||||||||||||||||||
Cash and equivalents | 9,573,039 | 5,700,314 | ||||||||||||||||||
Total Debt | 1,486,817 | 6,964 | ||||||||||||||||||
Debt term short | 2,505,318 | 4,623,758 | ||||||||||||||||||
Debt term long | 3,992,135 | 4,630,722 | ||||||||||||||||||
Puerto Rico (Aerostar) | ||||||||||||||||||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||||||||||||||||||
Cash and equivalents | 2,334,403 | 2,295,087 | ||||||||||||||||||
Total Debt | 377,215 | 353,672 | ||||||||||||||||||
Debt term short | 9,891,961 | 6,598,397 | ||||||||||||||||||
Debt term long | 10,269,176 | 6,952,069 | ||||||||||||||||||
Amount of aid subsidy received under CARES Act | $ 367,752 | $ 17,125 | 333,477 | $ 16,292 | $ 367,752 | $ 17,125 | ||||||||||||||
Colombia (Airplan) | ||||||||||||||||||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||||||||||||||||||
Cash and equivalents | 1,267,549 | 774,661 | ||||||||||||||||||
Total Debt | 5,964 | 217,508 | ||||||||||||||||||
Debt term short | 937,486 | 1,979,248 | ||||||||||||||||||
Debt term long | 943,450 | $ 2,196,756 | ||||||||||||||||||
Liquidity risk | ||||||||||||||||||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||||||||||||||||||
Cash and equivalents | 13,174,991 | |||||||||||||||||||
BBVA Bancomer, S. A. | ||||||||||||||||||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||||||||||||||||||
Term of loan | 18 months | 7 years | ||||||||||||||||||
Disposal of loans | $ 1,960,000 | $ 20,000 | ||||||||||||||||||
BBVA Bancomer, S. A. | Mexico | ||||||||||||||||||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||||||||||||||||||
Disposal of loans | $ 1,960,000 | |||||||||||||||||||
Bancolombia S | Liquidity risk | ||||||||||||||||||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||||||||||||||||||
Total Debt | $ 409,400 | $ 20,000 | ||||||||||||||||||
Banco Popular De Puerto Rico | ||||||||||||||||||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||||||||||||||||||
Term of loan | 3 years | 3 years | ||||||||||||||||||
Disposal of loans | $ 239,200 | |||||||||||||||||||
Banco Popular De Puerto Rico | Mexico | ||||||||||||||||||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||||||||||||||||||
Term of loan | 18 months |
Financial risk management_ Li_2
Financial risk management: Liquidity risk (Details) - MXN ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of risk management strategy related to hedge accounting [line items] | ||
Long-term debt | $ 9,891,961 | $ 6,598,397 |
Accounts payable and accrued expenses | 2,814,504 | 2,488,959 |
Three months | ||
Disclosure of risk management strategy related to hedge accounting [line items] | ||
Bank loans and interest | 637,733 | 13,660 |
Long-term debt | 158,242 | 114,009 |
Suppliers | 307,068 | 290,689 |
Accounts payable and accrued expenses | 1,170,318 | 1,383,249 |
Later than three months and not later than one year [member] | ||
Disclosure of risk management strategy related to hedge accounting [line items] | ||
Bank loans and interest | 944,235 | 210,812 |
Long-term debt | 280,166 | 239,663 |
Later Than One Year And Not Later Than Two Years Member | ||
Disclosure of risk management strategy related to hedge accounting [line items] | ||
Bank loans and interest | 1,354,415 | 3,945,092 |
Long-term debt | 973,931 | 1,512,848 |
Later than two years and not later than five years [member] | ||
Disclosure of risk management strategy related to hedge accounting [line items] | ||
Bank loans and interest | 1,900,147 | 2,305,320 |
Long-term debt | $ 3,477,822 | $ 5,696,815 |
Financial risk management_ Shor
Financial risk management: Short term liquidity (Details) - MXN ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Financial risk management: | ||
Current assets | $ 18,080,170 | $ 11,662,100 |
Current liabilities | 5,563,973 | 3,786,398 |
Short term position (liquidity) | $ 12,516,197 | $ 7,875,702 |
Financial risk management_ Addi
Financial risk management: Additional information (Details) $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2022 MXN ($) | Dec. 31, 2021 MXN ($) | Apr. 14, 2023 | Oct. 31, 2021 | Sep. 30, 2021 | |
Revenue From Regulated Services | |||||
Points to add interest rate | 1.25% | 1.25% | |||
Closing foreign exchange rate | 19.47 | 20.47 | 18.02 | ||
Foreign exchange gain (loss) | $ 357,800 | $ 119,800 | |||
Additional allowance recognised in profit or loss, allowance account for credit losses of financial assets | $ 128,000 | ||||
Percentage of increase decrease in foreign exchange rate | 5% | 5% | |||
Number of times cash held to pay debt and short-term loans | 7.05% | ||||
BBVA Bancomer, S.A. New | |||||
Revenue From Regulated Services | |||||
Points to add interest rate | 1.50% | ||||
BBVA Bancomer, S.A. New | Minimum | |||||
Revenue From Regulated Services | |||||
Points to add interest rate | 1.40% | ||||
BBVA Bancomer, S.A. New | Maximum | |||||
Revenue From Regulated Services | |||||
Points to add interest rate | 1.90% | ||||
Cancun Airport Services, S. A. de C. V. | |||||
Revenue From Regulated Services | |||||
Percentage of entity's revenue | 59.10% | 55.50% | |||
Grupo Mexicana | |||||
Revenue From Regulated Services | |||||
Receivables due from related parties | $ 128,000 | ||||
Mexico | |||||
Revenue From Regulated Services | |||||
Points to add interest rate | 7% | 7% | |||
Notes received pledged | $ 4,463 | ||||
Puerto Rico (Aerostar) | |||||
Revenue From Regulated Services | |||||
Additional allowance recognised in profit or loss, allowance account for credit losses of financial assets | $ 7,997 | 36,275 | |||
Colombia (Airplan) | |||||
Revenue From Regulated Services | |||||
Points to add interest rate | 4% | ||||
Additional allowance recognised in profit or loss, allowance account for credit losses of financial assets | $ 17,401 | $ 1,575 |
Critical accounting judgments_2
Critical accounting judgments and key sources of estimation uncertainty: (Details) - MXN ($) $ in Thousands | 12 Months Ended | |||
May 15, 2008 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Ifrs Statement [Line Items] | ||||
Expected Revenue From Airplan | $ 12,634,029 | $ 14,381,166 | $ 17,540,245 | |
Original concession period for operating rights | 25 years | 50 years | ||
Airplan | ||||
Ifrs Statement [Line Items] | ||||
Original concession period for operating rights | 15 years | 40 years | ||
Minimum | Airplan | ||||
Ifrs Statement [Line Items] | ||||
Original concession period for operating rights | 24 years |
Consolidated statements of ca_4
Consolidated statements of cash flows: (Details) - MXN ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure Of Consolidated Statements Of Cash Flows [Line Items] | |||
Short term debt | $ 377,215 | $ 353,672 | |
Bank loans | 1,492,781 | 224,472 | |
Bank loans | 3,442,804 | 6,603,006 | |
Long-term debt | 9,891,961 | 6,598,397 | |
Interest expense | 855,518 | 842,386 | $ 926,312 |
Proceeds from bank loans | 4,650,000 | 306,241 | |
Interest paid | (1,079,621) | (908,698) | (942,993) |
Bank loans paid | (1,498,076) | (4,429,334) | (245,520) |
Long-term debt | |||
Disclosure Of Consolidated Statements Of Cash Flows [Line Items] | |||
Short term debt | 377,215 | 353,672 | 330,235 |
Long-term debt | 9,891,961 | 6,598,397 | 6,641,941 |
Non-current portion of non-current secured bank loans received | 6,952,069 | 6,972,176 | 6,799,941 |
Interest expense | 523,488 | 454,863 | 450,806 |
Interest paid | (532,579) | (428,530) | (476,927) |
Bank loans paid | (245,520) | ||
Payments of the long term debt and bank loan | (222,568) | (253,925) | |
Foreign currency translation | (398,756) | 174,521 | 452,281 |
Non-current portion of non-current secured bank loans received | 10,269,176 | 6,952,069 | 6,972,176 |
Long-term debt | Aerostar | |||
Disclosure Of Consolidated Statements Of Cash Flows [Line Items] | |||
Long-term debt | 3,947,522 | ||
Bank Loans | |||
Disclosure Of Consolidated Statements Of Cash Flows [Line Items] | |||
Bank loans | 1,492,781 | 224,472 | 808,515 |
Bank loans | 3,442,804 | 6,603,006 | 6,119,655 |
Non-current portion of non-current secured bank loans received | 6,827,478 | 6,928,170 | 6,912,952 |
Interest expense | 332,030 | 387,523 | 398,899 |
Proceeds from bank loans | 4,650,000 | 306,241 | |
Interest paid | (547,042) | (480,168) | (466,066) |
Bank loans paid | (1,498,076) | (4,429,334) | |
Payments of the long term debt and bank loan | (245,520) | ||
Foreign currency translation | (178,805) | (228,713) | 21,664 |
Non-current portion of non-current secured bank loans received | $ 4,935,585 | $ 6,827,478 | $ 6,928,170 |