Segments | 23. Segments América Móvil operates in different countries. As mentioned in Note 1, the Company has operations in Mexico, Guatemala, Nicaragua, Ecuador, El Salvador, Costa Rica, Brazil, Argentina, Colombia, United States, Honduras, Chile, Peru, Paraguay, Uruguay, Dominican Republic, Puerto Rico, Panama, Austria, Croatia, Bulgaria, Belarus, Macedonian, Serbia and Slovenia. The accounting policies for the segments are the same as those described in Note 2. The Chief Executive Officer, who is the Chief Operating Decision Maker (“CODM”), analyzes the financial and operating information by operating segment. All operating segments that (i) represent more than 10% of consolidated revenues, (ii) more than the absolute amount of its reported 10% of profits before income tax or (iii) more than 10% of consolidated assets, are presented separately. The Company presents the following reportable segments for the purposes of its consolidated financial statements: Mexico (includes Telcel and Corporate operations and assets), Telmex (Mexico), Brazil, Southern Cone (includes Argentina, Chile, Paraguay and Uruguay), Central America (includes Guatemala, El Salvador, Honduras, Nicaragua, Costa Rica and Panama), U.S.A. (excludes Puerto Rico), Caribbean (includes Dominican Republic and Puerto Rico), and Europe (includes Austria, Bulgaria, Croatia, Belarus, Slovenia, Macedonia and Serbia). The segment Southern Cone comprises mobile communication services in Argentina as well as Chile, Paraguay and Uruguay. Beginning in 2018, hyperinflation accounting in accordance with IAS 29 was initially applied to Argentina, which results in the restatement of non-monetary period-end The Company considers that the quantitative and qualitative aspects of any aggregated operating segments (that is, Central America and Caribbean reportable segments) are similar in nature for all periods presented. In evaluating the appropriateness of aggregating operating segments, the key indicators considered included but were not limited to: (i) the similarity of key financial statements measures and trends, (ii) all entities provide telecommunications services, (iii) similarities of customer base and services, (iv) the methods to distribute services are the same, based on telephone plant in both cases, wireless and fixed lines, (v) similarities of governments and regulatory entities that oversee the activities and services of telecom companies, (vi) inflation trends, and (vii) currency trends. Mexico Telmex Brazil Southern Cone Colombia Andean Central America U.S.A. Caribbean Europe Eliminations Consolidated total As of and for the year ended December 31, 2018 (in Ps.): External revenues 207,610,244 86,339,289 188,712,666 89,149,978 75,460,428 55,633,192 44,883,585 153,266,315 36,435,541 100,716,443 — 1,038,207,681 Intersegment revenues 16,946,543 9,741,908 4,593,760 13,200,358 344,517 154,082 149,445 — 204,294 — (45,334,907 ) — Total revenues 224,556,787 96,081,197 193,306,426 102,350,336 75,804,945 55,787,274 45,033,030 153,266,315 36,639,835 100,716,443 (45,334,907 ) 1,038,207,681 Depreciation and amortization 17,619,342 18,358,248 42,857,751 13,526,361 13,464,867 8,516,960 8,940,655 1,545,395 5,036,831 26,838,972 (992,802 ) 155,712,580 Operating income (loss) 57,450,599 8,085,764 23,494,903 16,975,797 14,388,552 5,003,915 4,867,763 2,665,270 5,811,846 4,731,562 (3,918,800 ) 139,557,171 Interest income 26,578,280 420,380 11,303,888 2,251,474 1,013,839 1,666,879 1,566,086 559,548 1,458,874 122,133 (36,295,212 ) 10,646,169 Interest expense 32,526,258 1,153,913 20,377,191 4,338,941 2,913,881 1,719,663 509,081 — 561,867 1,973,431 (34,302,793 ) 31,771,433 Income tax 28,842,505 643,377 4,026,444 1,390,039 2,251,877 2,498,666 2,533,600 810,898 2,774,204 707,093 (1,624 ) 46,477,079 Equity interest in net income (loss) of associated companies (5,962 ) 44,965 (152 ) (20,871 ) — — — — — (17,713 ) — 267 Net profit (loss) attributable to equity holders of the parent 23,185,029 (2,201,572 ) 3,530,653 6,065,703 9,165,801 1,730,933 2,821,733 2,820,505 3,644,697 3,809,694 (2,006,979 ) 52,566,197 Assets by segment 970,564,314 174,461,398 390,791,480 127,946,573 111,975,598 96,347,779 81,640,157 38,814,907 102,531,547 186,135,358 (851,985,719 ) 1,429,223,392 Plant, property and equipment, net 56,056,634 103,737,293 173,197,708 62,988,635 51,422,548 35,800,477 37,146,601 1,356,237 38,011,242 80,421,642 (138,297 ) 640,000,720 Goodwill 27,104,632 215,381 21,388,124 2,796,759 12,770,380 5,242,365 5,466,871 3,328,533 14,186,723 53,066,729 — 145,566,497 Trademarks, net 227,774 243,556 124,910 — — — — 507,033 249,984 3,313,948 — 4,667,205 Licenses and rights, net 10,573,147 — 25,873,910 12,555,496 3,400,235 9,651,582 3,605,416 — 10,294,336 27,344,273 — 103,298,395 Investment in associated companies 5,621,661 563,667 543 20,697 412 — 24,262 — — 748,674 (3,847,209 ) 3,132,707 Liabilities by segments 748,965,728 136,993,838 298,308,084 94,550,901 56,211,438 50,064,761 28,592,953 35,552,678 58,716,154 117,214,746 (441,820,311 ) 1,183,350,970 Mexico Telmex Brazil Southern Cone Colombia Andean Central America U.S.A. Caribbean Europe Eliminations Consolidated total As of and for the year ended December 31, 2019 (in Ps.): External revenues 226,164,232 84,173,980 177,596,077 54,230,682 74,274,684 55,440,675 46,602,036 155,864,392 34,580,822 98,420,289 — 1,007,347,869 Intersegment revenues 11,676,015 11,863,364 4,182,248 11,041,705 361,386 92,249 132,061 — 1,136,879 — (40,485,907 ) — Total revenues 237,840,247 96,037,344 181,778,325 65,272,387 74,636,070 55,532,924 46,734,097 155,864,392 35,717,701 98,420,289 (40,485,907 ) 1,007,347,869 Depreciation and amortization 24,742,622 16,346,927 39,424,474 13,847,506 13,439,489 10,256,129 11,045,817 1,396,422 6,322,648 24,975,146 (2,881,970 ) 158,915,210 Operating income (loss) 67,694,409 9,731,852 28,846,565 4,007,614 15,324,977 8,023,002 5,712,068 2,968,236 5,741,368 8,687,862 (1,897,418 ) 154,840,535 Interest income 23,713,455 1,839,973 3,155,681 896,256 1,306,571 1,283,788 532,046 324,932 1,478,560 115,359 (28,361,949 ) 6,284,672 Interest expense 30,972,658 1,439,785 19,021,965 3,849,318 2,952,123 2,422,887 1,406,720 385 1,435,862 2,220,168 (27,810,532 ) 37,911,339 Income tax 30,000,511 1,528,229 4,251,116 2,022,336 5,405,452 1,681,159 2,355,380 1,119,478 719,774 1,946,255 3,843 51,033,533 Equity interest in net income (loss) of associated companies (3,732 ) 46,789 (1,538 ) (23,424 ) — — (28,795 ) — — (6,909 ) — (17,609 ) Net profit (loss) attributable to equity holders of the parent 42,598,946 (1,705,068 ) 5,618,095 (6,984 ) 9,571,046 (2,604,646 ) 2,335,963 2,095,807 4,312,630 5,051,145 463,957 67,730,891 Assets by segment 915,233,048 201,283,526 382,561,753 132,722,497 115,851,227 94,021,632 77,355,732 30,775,893 100,694,650 191,744,924 (710,311,225 ) 1,531,933,657 Plant, property and equipment, net 54,589,459 106,869,482 174,761,167 60,537,650 50,133,642 39,068,450 38,934,747 1,405,755 38,223,641 75,707,738 (888,361 ) 639,343,370 Goodwill 27,396,393 215,381 25,379,805 5,241,305 12,124,685 4,895,331 7,289,748 3,220,105 14,186,723 52,950,325 — 152,899,801 Trademarks, net 46,476 212,324 37,207 — — — — 369,950 227,156 2,595,596 — 3,488,709 Licenses and rights, net 11,087,882 452,504 29,324,718 12,103,980 5,530,422 8,064,487 4,390,547 — 7,942,670 25,951,335 — 104,848,545 Investment in associated companies 3,562,323 610,807 111,073 (7,806 ) 391 — 25,603 — — — (1,828,198 ) 2,474,193 Liabilities by segments 718,354,229 175,774,964 297,877,328 103,330,525 55,576,253 55,463,339 37,993,180 31,557,816 54,276,868 124,319,541 (349,497,251 ) 1,305,026,792 Mexico Telmex Brazil Southern Cone Colombia Andean Central America U.S.A. Caribbean Europe Eliminations Consolidated total As of and for the year ended December 31, 2020 (in Ps.): External revenues 214,578,601 77,920,910 163,865,421 55,484,744 77,282,658 53,846,358 48,073,436 177,179,369 37,182,842 111,472,191 — 1,016,886,530 Intersegment revenues 17,663,525 13,668,264 4,207,466 1,220,100 352,694 88,305 121,580 — 1,440,983 — (38,762,917 ) — Total revenues 232,242,126 91,589,174 168,072,887 56,704,844 77,635,352 53,934,663 48,195,016 177,179,369 38,623,825 111,472,191 (38,762,917 ) 1,016,886,530 Depreciation and amortization 24,748,756 13,341,479 41,795,397 13,095,004 14,413,760 11,447,356 14,355,899 1,561,284 7,094,331 25,593,204 (3,202,787 ) 164,243,683 Operating income (loss) 70,851,525 11,204,433 25,203,504 1,877,079 15,111,947 8,698,645 4,004,501 10,579,394 6,701,086 13,159,865 (2,037,068 ) 165,354,911 Interest income 21,322,406 1,479,021 2,904,430 980,581 822,447 1,049,261 1,130,767 77,235 1,105,420 90,746 (25,900,278 ) 5,062,036 Interest expense 30,936,195 1,306,867 17,976,227 3,334,966 2,586,708 2,223,478 1,559,917 255 1,658,619 2,546,255 (25,467,747 ) 38,661,740 Income tax 4,905,863 577,178 (4,442,598 ) 992,831 2,078,789 3,115,693 1,518,953 2,856,881 2,524,214 2,234,065 4,283 16,366,152 Equity interest in net income (loss) of associated companies (3,820 ) 23,955 (2,972 ) (15,422 ) — — — — — (288,747 ) — (287,006 ) Net profit (loss) attributable to equity holders of the parent 3,613,907 (1,085,038 ) 4,963,424 1,456,062 16,579,303 4,649,047 1,919,558 7,797,723 3,294,111 7,777,426 (4,112,918 ) 46,852,605 Assets by segment 947,396,510 203,081,314 386,982,711 118,266,380 132,210,369 101,717,708 88,690,683 35,083,285 109,914,293 239,583,759 (737,878,785 ) 1,625,048,227 Plant, property and equipment, net 52,117,395 110,751,083 145,307,497 62,157,797 48,876,853 36,102,261 37,855,227 1,761,595 39,128,447 82,595,077 (876,229 ) 615,777,003 Revalued of assets — — 36,076,207 7,494,408 12,893,284 9,500,708 7,059,247 — 2,572,504 31,556,270 — 107,152,628 Goodwill 26,949,185 215,381 16,048,092 5,436,675 12,253,743 4,866,363 6,345,659 3,362,899 14,186,723 53,388,139 — 143,052,859 Trademarks, net 126,823 181,094 — — — — — 269,325 219,087 2,981,089 — 3,777,418 Licenses and rights, net 12,017,318 100,623 26,171,345 12,099,873 12,363,039 6,870,531 5,427,857 — 8,616,880 27,963,250 — 111,630,716 Investment in associated companies 51,645 613,449 64,125 (20,970 ) 395 — 25,413 — — — 1,095,703 1,829,760 Liabilities by segments 725,408,198 193,840,756 263,989,566 61,786,265 63,610,642 53,379,366 34,252,511 33,141,315 60,839,340 138,747,621 (319,064,971 ) 1,309,930,609 |