Segments | Note 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, Peru, Paraguay, Uruguay, the Dominican Republic, Puerto Rico, 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 separated from Paraguay and Uruguay), Colombia, Andean (includes Ecuador and Peru), Central America (includes Guatemala, El Salvador, Honduras, Nicaragua and Costa Rica), Caribbean (includes the 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 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 (2) Colombia Andean (1) Central Caribbean Europe Eliminations Consolidated Argentina Uruguay and As of and for the year ended December 31, 2021 (in Ps.): External revenues 225,219,719 87,189,642 148,729,232 35,419,511 4,825,315 79,312,071 52,888,323 45,406,174 37,858,979 113,838,486 — 830,687,452 Intersegment revenues 18,041,465 15,237,420 4,044,386 224,300 (73,993 ) 360,638 73,828 62,764 2,069,648 — (40,040,456 ) — Total revenues 243,261,184 102,427,062 152,773,618 35,643,811 4,751,322 79,672,709 52,962,151 45,468,938 39,928,627 113,838,486 (40,040,456 ) 830,687,452 Depreciation and amortization 25,797,791 12,740,332 40,342,871 7,581,101 2,010,624 15,067,211 11,211,523 10,830,440 6,987,129 27,469,463 (3,735,493 ) 156,302,992 Operating income 77,783,972 21,100,316 21,867,457 3,520,432 (549,329 ) 15,165,356 7,457,802 8,700,382 8,661,475 13,421,147 (9,572,760 ) 167,556,250 Interest income 14,864,242 758,126 2,104,574 820,505 2,165 431,314 833,540 269,379 701,785 116,031 (17,067,511 ) 3,834,150 Interest expense 24,586,641 1,385,103 15,875,138 2,518,149 275,047 2,240,707 1,213,421 1,061,526 1,066,733 2,414,415 (16,898,575 ) 35,738,305 Income tax 25,002,390 2,496,010 (9,603,701 ) 1,951,409 (1,168,564 ) 3,112,946 2,375,281 2,940,404 2,171,594 3,438,161 1,547 32,717,477 Equity interest in net result 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 (2,999,123 ) 152,766 5,959,563 4,180,473 4,746,847 5,151,166 8,313,018 (10,292,933 ) 68,187,225 Net profit (loss) attributable to equity holders of the parent discontinued operations — — — — — — — — — — — 124,235,942 Net profit (loss) attributable to equity holders of the parent 34,195,093 4,594,450 14,185,905 (2,999,123 ) 152,766 5,959,563 4,180,473 4,746,847 5,151,166 8,313,018 (10,292,933 ) 192,423,167 Assets by segment 999,502,407 195,869,232 407,458,440 77,951,595 58,312,728 133,232,525 95,719,937 101,725,955 102,949,901 210,944,575 (694,017,446 ) 1,689,649,849 Plant, property and equipment, net 50,420,866 118,056,718 153,607,199 38,039,995 26,824,991 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 2,192,978 3,966,099 10,266,464 8,389,460 9,113,632 2,564,149 28,675,224 — 98,172,675 Goodwill 26,965,618 215,381 15,335,322 198,010 4,993,831 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 11,824,500 1,966,503 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 45,203,170 27,977,789 65,631,866 44,676,727 42,823,861 53,885,848 134,357,142 (308,736,552 ) 1,235,608,123 (1) Discontinued operations (Panama disposal) (2) Discontinued operations (ClaroVTR joint venture) Mexico Telmex Brazil (2) Colombia Andean (1) Central Caribbean Europe Eliminations Consolidated Argentina Uruguay and As of and for the year ended December 31, 2022 (in Ps.): External revenues 236,608,249 83,046,967 165,804,342 34,363,532 4,456,541 70,925,374 55,426,258 47,054,127 40,859,951 105,956,056 — 844,501,397 Intersegment revenues 9,290,955 16,937,889 5,075,716 153,155 64,779 374,225 72,142 160,459 1,854,029 — (33,983,349 ) — Total 245,899,204 99,984,856 170,880,058 34,516,687 4,521,320 71,299,599 55,498,400 47,214,586 42,713,980 105,956,056 (33,983,349 ) 844,501,397 Depreciation and amortization 26,383,113 13,171,616 43,422,821 9,002,551 1,808,414 13,085,226 10,698,869 11,178,361 7,133,908 22,761,938 (13,031 ) 158,633,786 Operating income 76,708,954 16,172,472 26,665,816 2,570,848 (778,032 ) 14,170,936 8,262,395 7,540,132 10,284,834 16,155,520 (6,883,123 ) 170,870,752 Interest income 18,336,415 925,158 2,679,103 718,676 3,463 624,304 906,176 431,741 701,794 229,958 (20,733,209 ) 4,823,579 Interest expense 24,909,724 3,342,459 23,411,387 2,258,095 316,945 2,699,010 860,572 1,033,792 1,152,370 1,281,857 (20,007,408 ) 41,258,803 Income tax 30,642,242 2,767,673 454,205 (286,202 ) 126,003 2,286,809 2,870,743 1,708,728 2,432,392 3,151,281 (109,785 ) 46,044,089 Equity (1,821,608 ) 31,000 20,864 (2,198 ) — — — — — (39,490 ) — (1,811,432 ) Net profit (loss) attributable to equity holders of the parent continues operations 63,711,537 (373,036 ) 10,254,969 (700,478 ) (231,151 ) 6,486,771 6,122,291 5,059,038 6,649,004 11,795,662 (25,896,201 ) 82,878,406 Net profit (loss) attributable to equity holders of the parent discontinued operations — — — — — — — — — — — (6,719,015 ) Net profit (loss) attributable to equity holders of the parent 63,711,537 (373,036 ) 10,254,969 (700,478 ) (231,151 ) 6,486,771 6,122,291 5,059,038 6,649,004 11,795,662 (25,896,201 ) 76,159,391 Assets by segment 1,042,849,460 215,543,807 407,802,373 79,283,120 10,258,999 104,769,670 85,782,831 96,321,649 101,143,182 154,774,150 (680,429,897 ) 1,618,099,344 Plant, 49,677,868 134,928,482 159,382,793 38,525,335 4,149,285 44,999,710 33,480,299 41,312,113 40,606,623 72,272,633 (462,650 ) 618,872,491 Revalued of assets — — — — — 7,700,459 5,938,449 — 1,434,188 23,280,623 — 38,353,719 Goodwill 26,481,707 215,381 31,085,202 199,984 — 8,495,090 4,678,851 6,312,511 14,186,723 49,465,916 — 141,121,365 Trademarks, net 110,397 118,634 — — — — — — 220,350 2,565,176 — 3,014,557 Licenses and rights, net 10,559,914 106,659 37,638,695 12,137,641 827,380 8,068,013 4,271,910 3,599,560 10,124,134 20,461,281 — 107,795,187 Investment in associated companies 24,656,295 550,493 22,708 (19,866 ) — — — 23,896 — 2,058 (1,260,122 ) 23,975,462 Liabilities by segments 621,482,350 204,294,033 297,234,805 47,430,485 7,120,057 57,393,854 36,223,727 42,725,447 48,434,551 97,527,392 (279,596,630 ) 1,180,270,071 (1) Discontinued operations (Panama disposal) (2) Discontinued operations (ClaroVTR joint venture) Southern Cone Mexico Telmex Brazil Argentina Uruguay and Colombia Andean Central Caribbean Europe Eliminations Consolidated As of and for the year ended December 31, 2023 (in Ps.): External revenues 248,890,778 84,821,370 162,224,734 18,884,623 3,995,812 62,342,147 52,903,716 43,964,411 37,148,876 100,836,377 — 816,012,844 Intersegment revenues 9,896,948 17,010,698 4,485,048 38,080 9,876 376,010 87,974 99,850 1,119,554 — (33,124,038 ) — Total 258,787,726 101,832,068 166,709,782 18,922,703 4,005,688 62,718,157 52,991,690 44,064,261 38,268,430 100,836,377 (33,124,038 ) 816,012,844 Depreciation and amortization 26,640,899 14,333,486 44,302,136 5,677,627 1,319,462 13,360,622 10,084,882 10,028,603 7,189,119 21,008,775 (2,159,547 ) 151,786,064 Operating income 84,816,739 12,063,692 25,618,154 515,233 (444,485 ) 9,958,999 10,638,985 6,956,209 7,723,115 15,751,978 (5,815,104 ) 167,783,515 Interest income 27,202,474 1,465,927 4,252,205 543,248 4,231 867,151 2,338,242 621,068 1,616,687 392,951 (29,675,844 ) 9,628,340 Interest expense 28,164,647 7,176,879 25,691,398 968,299 113,909 3,342,195 2,333,600 1,325,213 1,735,648 1,971,189 (28,277,736 ) 44,545,241 Income tax 30,378,228 (625,561 ) (1,730,068 ) (4,760,360 ) (1,721 ) 1,427,740 4,141,240 1,728,005 1,674,363 2,785,214 (473,077 ) 34,544,003 Equity (5,458,577 ) 41,642 32,776 (1,814 ) — — — (1,143 ) — 15,292 — (5,371,824 ) Net profit (loss) attributable to equity holders of the parent 43,053,030 (5,278,857 ) 9,866,950 (8,101,032 ) (294,922 ) 4,180,800 7,769,059 4,733,871 5,604,618 11,145,743 3,431,357 76,110,617 Assets by segment 1,029,618,098 238,216,814 383,653,519 53,570,541 9,187,465 115,103,155 98,293,206 91,976,207 101,862,049 167,594,129 (724,889,223 ) 1,564,185,960 Plant, 46,695,107 150,219,598 150,226,089 21,087,810 4,089,689 53,038,210 30,416,383 42,790,489 35,214,165 86,706,171 (1,072,086 ) 619,411,625 Revalued of assets — — — — — 8,040,753 — — — 1,198,526 — 9,239,279 Goodwill 26,434,428 215,381 29,437,800 — 201,912 9,304,613 4,603,998 6,279,966 14,186,723 55,414,076 — 146,078,897 Trademarks, net 110,950 87,404 — — — — 555 — 185,566 2,382,690 — 2,767,165 Licenses and rights, net 10,555,645 92,065 32,446,402 10,603,388 1,017,772 10,227,439 3,180,343 4,660,729 8,593,842 18,520,001 — 99,897,626 Investment in associated companies 19,797,046 586,515 57,133 993 — — — 19,747 — 17,175 (6,098,146 ) 14,380,463 Liabilities by segments 628,519,912 236,678,379 313,072,959 36,668,486 4,512,644 59,510,611 46,189,708 37,051,349 47,864,665 93,944,278 (361,529,413 ) 1,142,483,578 |