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, 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), Colombia, Andean (includes Ecuador and Peru), 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 assets, liabilities and all items of the statement of comprehensive income for the change in a general price index and the translation of these items applying the period-end exchange rate. 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 U.S.A.(1) Caribbean Europe Eliminations Consolidated As of and for the year ended December 31, 2019 (in Ps.): External revenues 226,164,231 84,173,980 177,596,077 54,230,682 74,274,684 55,440,675 46,602,036 — 34,580,822 98,420,289 — 851,483,476 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 237,840,246 96,037,344 181,778,325 65,272,387 74,636,070 55,532,924 46,734,097 — 35,717,701 98,420,289 (40,485,907 ) 851,483,476 Depreciation and amortization 24,742,622 16,346,927 39,424,474 13,847,506 13,439,489 10,256,129 11,045,817 — 6,322,648 24,975,146 (2,881,971 ) 157,518,787 Operating income (loss) 67,694,409 9,731,852 28,846,565 4,007,614 15,324,977 8,023,002 5,712,068 — 5,741,368 8,687,862 (9,971,433 ) 143,798,284 Interest income 23,713,455 1,839,973 3,155,681 896,256 1,306,571 1,283,788 532,046 — 1,478,560 115,359 (28,037,017 ) 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 — 1,435,862 2,220,168 (27,810,532 ) 37,910,954 Income tax 30,000,511 1,528,229 4,251,116 2,022,336 5,405,452 1,681,159 2,355,380 — 719,774 1,946,255 3,843 49,914,055 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 continues operations 42,598,946 (1,705,068 ) 5,618,095 (6,984 ) 9,571,046 (2,604,646 ) 2,335,963 — 4,312,630 5,051,145 (7,285,126 ) 57,886,001 Net profit (loss) attributable to equity holders of the parent discontinued operations — — — — — — — — — — — 9,844,889 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 — 4,312,630 5,051,145 2,559,763 67,730,890 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 (1) Restated for discontinued operations. Mexico Telmex Brazil Southern Cone Colombia Andean Central U.S.A. (1) Caribbean Europe Eliminations Consolidated As of and for the year ended December 31, 2020 (in Ps.): External revenues 214,578,600 77,920,910 163,865,421 55,484,744 77,282,658 53,846,358 48,073,436 — 37,182,842 111,472,191 — 839,707,160 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 232,242,125 91,589,174 168,072,887 56,704,844 77,635,352 53,934,663 48,195,016 — 38,623,825 111,472,191 (38,762,917 ) 839,707,160 Depreciation and amortization 24,748,756 13,341,479 41,795,397 13,095,004 14,413,760 11,447,356 14,355,899 — 7,094,331 25,593,204 (3,202,788 ) 162,682,398 Operating income (loss) 70,851,525 11,204,433 25,203,504 1,877,079 15,111,947 8,698,645 4,004,501 — 6,701,086 13,159,865 (11,309,206 ) 145,503,379 Interest income 21,322,406 1,479,021 2,904,430 980,581 822,447 1,049,261 1,130,767 — 1,105,420 90,746 (25,823,043 ) 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 — 1,658,619 2,546,255 (25,467,747 ) 38,661,485 Income tax 4,905,863 577,178 (4,442,598 ) 992,831 2,078,789 3,115,693 1,518,953 — 2,524,214 2,234,065 4,282 13,509,270 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 continues operations 3,613,907 (1,085,038 ) 4,963,424 1,456,062 16,579,303 4,649,047 1,919,558 — 3,294,111 7,777,426 (13,307,820 ) 29,859,980 Net profit (loss) attributable to equity holders of the parent discontinued operations — — — — — — — — — — — 16,992,625 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 — 3,294,111 7,777,426 3,684,805 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 (1) Restated for discontinued operations. Mexico Telmex Brazil Southern Cone Colombia Andean Central Caribbean Europe Eliminations Consolidated As of and for the year ended December 31, 2021 (in Ps.): External revenues 225,219,719 87,189,642 148,729,232 62,030,033 79,312,071 52,888,323 48,468,386 37,858,979 113,838,486 — 855,534,871 Intersegment revenues 18,041,465 15,237,420 4,044,386 329,000 360,638 73,828 98,530 2,069,648 — (40,254,915 ) — Total revenues 243,261,184 102,427,062 152,773,618 62,359,033 79,672,709 52,962,151 48,566,916 39,928,627 113,838,486 (40,254,915 ) 855,534,871 Depreciation and amortization 25,797,791 12,740,332 40,342,871 14,996,243 15,067,211 11,211,523 11,962,486 6,987,129 27,469,463 (3,948,183 ) 162,626,866 Operating income (loss) 77,783,972 21,100,316 21,867,457 2,144,825 15,165,356 7,457,802 8,216,945 8,661,475 13,421,147 (9,686,654 ) 166,132,641 Interest income 14,864,242 758,126 2,104,574 821,594 431,314 833,540 269,379 701,785 116,031 (17,065,758 ) 3,834,827 Interest expense 24,586,641 1,385,103 15,875,138 2,987,751 2,240,707 1,213,421 1,219,061 1,066,733 2,414,415 (16,963,658 ) 36,025,312 Income tax 25,002,390 2,496,010 (9,603,701 ) (3,795,160 ) 3,112,946 2,375,281 2,945,700 2,171,594 3,438,161 1,548 28,144,769 Equity interest in net income (loss) of associated companies 85,648 44,525 4,575 (19,073 ) — — — — (1,757 ) — 113,918 Net profit (loss) attributable to equity holders of the parent continues operations 34,195,093 4,594,450 14,185,905 415,994 5,959,563 4,180,473 4,099,930 5,151,166 8,313,018 (10,383,143 ) 70,712,449 Net profit (loss) attributable to equity holders of the parent discontinued operations — — — — — — — — — — 121,710,718 Net profit (loss) attributable to equity holders of the parent 34,195,093 4,594,450 14,185,905 415,994 5,959,563 4,180,473 4,099,930 5,151,166 8,313,018 (10,383,143 ) 192,423,167 Assets by segment 999,502,407 195,869,232 407,458,440 135,862,040 133,232,525 95,719,937 101,725,955 102,949,901 210,944,575 (693,615,163 ) 1,689,649,849 Plant, property and equipment, net 50,420,866 118,056,718 153,607,199 64,864,986 48,888,907 34,395,339 42,407,727 41,601,009 79,764,422 (983,169 ) 633,024,004 Revalued of assets — — 33,004,669 6,159,077 10,266,464 8,389,460 9,113,632 2,564,149 28,675,224 — 98,172,675 Goodwill 26,965,618 215,381 15,335,322 5,191,841 11,685,585 4,688,154 6,002,380 14,186,723 52,307,190 — 136,578,194 Trademarks, net 90,673 149,865 — — — — — 229,000 2,822,625 — 3,292,163 Licenses and rights, net 11,081,972 129,233 39,620,009 13,791,003 11,384,533 5,502,139 5,220,437 10,847,685 25,709,849 — 123,286,860 Investment in associated companies 4,725,279 522,403 65,699 (34,401 ) 351 — 26,348 — — (2,253,198 ) 3,052,481 Liabilities by segments 679,954,783 176,177,522 273,655,967 72,702,285 65,631,866 44,676,727 42,823,861 53,885,848 134,357,142 (308,257,878 ) 1,235,608,123 |