Subsidiary Guarantor Information | NOTE 21. SUBSIDIARY GUARANTOR INFORMATION The following unaudited consolidating information presents: (i) unaudited condensed consolidated statements of financial position at June 30, 2021 and December 31, 2020 and (ii) unaudited condensed consolidated statements of comprehensive income and cash flows for the six-month Non-Guarantor These unaudited condensed consolidated statements were prepared in conformity with International Financial Reporting Standards as issued by the International Accounting Standards Board, with one exception: for the purposes of the presentation of the subsidiary guarantor information, the Subsidiary Entities and Subsidiary Companies have been accounted for as investments under the equity method by Petróleos Mexicanos. Earnings of subsidiaries are therefore reflected in Petróleos Mexicanos’ investment account and earnings. The principal elimination entries eliminate Petróleos Mexicanos’ investment in subsidiaries and inter-company balances and transactions. Pemex Exploration and Production, Pemex Industrial Transformation, Pemex Logistics (collectively, the “Subsidiary Guarantors”) and Pemex Fertilizers (merged with Pemex Industrial Transformation as of December 31, 2020) are 100%-owned subsidiaries of the Mexican Government. The guarantees by the Subsidiary Guarantors of Petróleos Mexicanos’ payment obligations under this indebtedness are full, unconditional, joint and several. Pemex Fertilizers (merged with Pemex Industrial Transformation as of December 31, 2020), Pemex Finance Ltd. and the Subsidiary Companies collectively comprise the non-guarantor “Non-Guarantor The Pemex Project Funding Master Trust (the “Master Trust”), which was a trust formed for the purpose of financing PEMEX’s projects, was dissolved effective December 20, 2011 and is no longer consolidated in the financial statements of PEMEX as of December 31, 2011 and thereafter. The following table sets forth, as of June 30, 2021, the principal amount outstanding of the registered debt securities originally issued by the Master Trust. As noted above, Petróleos Mexicanos has assumed, as primary obligor, all of the obligations of the Master Trust under these debt securities. The obligations of Petróleos Mexicanos are guaranteed by the Subsidiary Guarantors: Table 1: Registered Debt Securities originally issued by the Master Trust and Assumed by Petróleos Mexicanos Security Primary Guarantors Principal amount 6.625% Guaranteed Bonds due 2035 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 2,749,000 6.625% Guaranteed Bonds due 2038 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 491,175 8.625% Bonds due 2022 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 89,609 8.625% Guaranteed Bonds due 2023 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 63,705 9.50% Guaranteed Bonds due 2027 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 219,217 The following table sets forth, as of June 30, 2021, the principal amount outstanding of the registered debt securities issued by Petróleos Mexicanos, and guaranteed by Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics. Table 2: Registered Debt Securities originally issued by Petróleos Mexicanos Security Issuer Guarantors Principal amount Floating Rate Notes due 2022 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 500,448 9.50% Global Guaranteed Bonds due 2027 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 102,149 3.500% Notes due 2023 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 1,143,938 4.875% Notes due 2024 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 1,031,954 6.625% Notes due 2035 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 2,749,000 6.500% Bonds due 2041 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 1,560,521 Security Issuer Guarantors Principal amount outstanding (U.S. $) 4.875% Notes due 2022 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 639,371 5.375% Notes due 2022 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 447,340 5.50% Bonds due 2044 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 793,638 6.375% Bonds due 2045 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 1,560,461 5.625% Bonds due 2046 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 947,279 4.500% Notes due 2026 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 1,386,032 4.250% Notes due 2025 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 790,153 6.875% Notes due 2026 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 2,970,334 4.625% Notes due 2023 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 895,444 6.750% Bonds due 2047 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 5,997,558 Security Issuer Guarantors Principal amount outstanding (U.S. $) 5.350% Notes due 2028 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 2,482,468 6.350% Bonds due 2048 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 2,882,540 6.500% Notes due 2027 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 5,478,577 5.950% Notes due 2031 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 3,777,381 6.490% Notes due 2027 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 2,341,377 6.840% Notes due 2030 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 4,387,135 6.950% Bonds due 2060 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 3,796,812 7.690% Bonds due 2050 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 8,047,831 6.500% Notes due 2029 Petróleos Mexicanos Pemex Exploration and Production, Pemex Industrial Transformation and Pemex Logistics 1,986,963 Petróleos Mexicanos is the only PEMEX entity that had debt securities registered with the SEC outstanding as of June 30, 2021 and as of the date of these unaudited condensed consolidated interim financial statements, and all guaranteed debt is issued by Petróleos Mexicanos. The guaranties of the Subsidiary Guarantors are full and unconditional and joint and several. PEMEX’s management has not presented separate financial statements for the Subsidiary Guarantors, because it has determined that such information is not material to investors. UNAUDITED SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION UNAUDITED STATEMENT OF FINANCIAL POSITION As of June 30, 2021 Petróleos Subsidiary Non-guarantor Eliminations PEMEX Assets Current assets Cash and cash equivalents Ps. 15,086,771 Ps. 6,892,997 Ps. 19,556,201 Ps. — Ps. 41,535,969 Trade and other accounts receivable, derivative financial instruments and other current assets 36,859,198 165,218,269 84,424,267 — 286,501,734 Accounts receivable—inter-company 952,064,764 1,070,252,664 134,804,673 (2,157,122,101 ) — Inventories 970,258 52,132,730 30,039,002 — 83,141,990 Total current assets 1,004,980,991 1,294,496,660 268,824,143 (2,157,122,101 ) 411,179,693 Long-term receivables—intercompany 1,736,131,257 — 726,859 (1,736,858,116 ) — Investments in joint ventures and associates (1,166,598,920 ) 99,149,864 73,380,993 1,002,685,475 8,617,412 Wells, pipelines, properties, plant and equipment-net 8,078,854 1,216,736,628 78,635,251 — 1,303,450,733 Long-term notes receivables (84 ) 858,732 — — 858,648 Right of use 849,593 54,848,216 1,273,121 — 56,970,930 Deferred taxes 49,887,093 31,863,657 3,377,281 — 85,128,031 Intangible assets 139,321 21,777,274 1,087,179 — 23,003,774 Long-term portion of Government Bonds 110,783,999 — — — 110,783,999 Other assets — 941,913 36,084,845 — 37,026,758 Total assets 1,744,252,104 2,720,672,944 463,389,672 (2,891,294,742 ) 2,037,019,978 Liabilities Current liabilities Current portion of long-term debt 453,506,671 2,623,808 46,924,431 — 503,054,910 Accounts payable—inter-company 1,299,462,555 763,863,075 91,718,383 (2,155,044,013 ) — Other current liabilities 16,798,227 295,764,819 56,960,490 — 369,523,536 Total current liabilities 1,769,767,453 1,062,251,702 195,603,304 (2,155,044,013 ) 872,578,446 Long-term debt 1,737,685,333 26,098,811 13,064,349 — 1,776,848,493 Long-term payables—inter-company — 1,736,935,797 2,000,407 (1,738,936,204 ) — Employee benefits, provisions for sundry creditors, other liabilities and deferred taxes 310,320,676 1,140,314,227 10,218,093 — 1,460,852,996 Total liabilities 3,817,773,462 3,965,600,537 220,886,153 (3,893,980,217 ) 4,110,279,935 Equity (deficit), net (2,073,521,358 ) (1,244,927,593 ) 242,503,519 1,002,685,475 (2,073,259,957 ) Total liabilities and equity Ps. 1,744,252,104 Ps. 2,720,672,944 Ps. 463,389,672 Ps. (2,891,294,742 ) Ps. 2,037,019,978 Petróleos Subsidiary Non-guarantor Eliminations PEMEX Assets Current assets Cash and cash equivalents Ps. 9,394,220 Ps. 4,970,074 Ps. 25,625,487 Ps. — Ps. 39,989,781 Trade and other accounts receivable, derivative financial instruments and other current assets 46,962,377 139,800,991 50,500,929 — 237,264,297 Accounts receivable—inter-company 800,429,251 1,061,537,492 131,931,674 (1,993,898,417 ) — Inventories 889,543 41,946,007 9,770,111 — 52,605,661 Total current assets 857,675,391 1,248,254,564 217,828,201 (1,993,898,417 ) 329,859,739 Long-term receivables—intercompany 1,824,398,719 — 988,069 (1,825,386,788 ) — Investments in joint ventures and associates (1,358,455,811 ) 45,295,025 75,662,389 1,249,513,526 12,015,129 Wells, pipelines, properties, plant and equipment-net 8,548,022 1,209,708,979 57,872,520 — 1,276,129,521 Long-term notes receivables 1,999 884,828 — — 886,827 Right of use 759,133 56,949,499 1,486,625 — 59,195,257 Deferred taxes 59,277,027 45,431,025 3,821,147 — 108,529,199 Intangible assets 25,650 21,639,537 1,110,597 — 22,775,784 Mexican Government Bonds 111,512,962 — — — 111,512,962 Other assets — 780,426 6,803,084 — 7,583,510 Total assets 1,503,743,092 2,628,943,883 365,572,632 (2,569,771,679 ) 1,928,487,928 Liabilities Current liabilities Current portion of long-term debt 334,770,935 6,642,039 49,684,293 — 391,097,267 Accounts payable—inter-company 1,360,720,755 552,292,445 78,413,852 (1,991,427,052 ) — Other current liabilities 18,629,284 325,647,266 37,036,254 — 381,312,804 Total current liabilities 1,714,120,974 884,581,750 165,134,399 (1,991,427,052 ) 772,410,071 Long-term debt 1,825,964,253 27,513,661 14,152,136 — 1,867,630,050 Long-term payables—inter-company — 1,825,630,931 2,227,221 (1,827,858,152 ) — Employee benefits, provisions for sundry creditors, other liabilities and deferred taxes 368,754,587 1,315,022,188 9,398,062 — 1,693,174,837 Total liabilities 3,908,839,814 4,052,748,530 190,911,818 (3,819,285,204 ) 4,333,214,958 Equity (deficit), net (2,405,096,722 ) (1,423,804,647 ) 174,660,814 1,249,513,525 (2,404,727,030 ) Total liabilities and equity Ps. 1,503,743,092 Ps. 2,628,943,883 Ps. 365,572,632 Ps. (2,569,771,679 ) Ps. 1,928,487,928 UNAUDITED SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION UNAUDITED STATEMENT OF COMPREHENSIVE INCOME For the six-month Petróleos Subsidiary Non-guarantor Eliminations PEMEX Net sales Ps. — Ps. 800,966,965 Ps. 321,001,515 Ps. (459,043,335 ) Ps. 662,925,145 Services income 32,644,460 43,988,258 3,960,253 (78,529,244 ) 2,063,727 Total sales revenues 32,644,460 844,955,223 324,961,768 (537,572,579 ) 664,988,872 Reversal of impairment of wells, pipelines, properties, plant and equipment — 32,192,460 — — 32,192,460 Cost of sales 525,033 656,087,010 313,505,643 (506,278,966 ) 463,838,720 Gross income 32,119,427 221,060,673 11,456,125 (31,293,613 ) 233,342,612 Total general expenses 35,124,862 66,703,145 3,589,975 (31,253,875 ) 74,164,107 Other revenues (expenses), net 172,365 3,125,491 1,184,549 45,192 4,527,597 Operating income (2,833,070 ) 157,483,019 9,050,699 5,454 163,706,102 Financing cost, net (29,571,084 ) (39,488,898 ) (2,234,477 ) (5,455 ) (71,299,914 ) Foreign exchange income, net 654,054 22,795,098 146,801 — 23,595,953 Profit (loss) sharing in joint ventures and associates 7,786,262 (212,042 ) (3,403,082 ) (7,379,422 ) (3,208,284 ) (Loss) income before taxes, duties and other (23,963,838 ) 140,577,177 3,559,941 (7,379,423 ) 112,793,857 Total taxes, duties and other (1,078,490 ) 136,188,975 676,736 — 135,787,221 Net (loss) income for the period (22,885,348 ) 4,388,202 2,883,205 (7,379,423 ) (22,993,364 ) Total other comprehensive result 55,370,722 187,364,075 (1,448,360 ) — 241,286,437 Total comprehensive result for the period 32,485,374 191,752,277 1,434,845 (7,379,423 ) 218,293,073 UNAUDITED SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION UNAUDITED STATEMENT OF COMPREHENSIVE INCOME For the six-month Petróleos Subsidiary Non-guarantor Eliminations PEMEX Net sales Ps. — Ps. 533,407,648 Ps. 227,599,887 Ps. (297,624,586 ) Ps. 463,382,949 Services income 50,315,491 47,379,283 5,090,526 (100,365,074 ) 2,420,226 Total sales revenues 50,315,491 580,786,931 232,690,413 (397,989,660 ) 465,803,175 Reversal of impairment of wells, pipelines, properties, plant and equipment — 7,924,576 — — 7,924,576 Cost of sales 551,331 513,616,989 228,454,819 (346,423,881 ) 396,199,258 Gross income 49,764,160 75,094,518 4,235,594 (51,565,779 ) 77,528,493 Total general expenses 37,377,566 92,033,201 3,387,125 (51,354,230 ) 81,443,662 Other revenues (expenses), net (81,975 ) 1,090,519 3,318,868 203,397 4,530,809 Operating income 12,304,619 (15,848,164 ) 4,167,337 (8,152 ) 615,640 Financing cost, net (21,987,078 ) (77,701,844 ) (2,929,173 ) 8,152 (102,609,943 ) Foreign exchange income, net (19,881,523 ) (398,111,928 ) (1,667,464 ) — (419,660,915 ) Profit (loss) sharing in joint ventures and associates (574,057,225 ) (2,705,511 ) (10,336,517 ) 586,288,629 (810,624 ) (Loss) income before taxes, duties and other (603,621,207 ) (494,367,447 ) (10,765,817 ) 586,288,629 (522,465,842 ) Total taxes, duties and other 2,840,002 76,753,612 4,527,867 — 84,121,481 Net (loss) income for the period (606,461,209 ) (571,121,059 ) (15,293,684 ) 586,288,629 (606,587,323 ) Total other comprehensive result (54,170 ) — 25,625,604 — 25,571,434 Total comprehensive result for the period Ps. (606,515,379 ) Ps. (571,121,059 ) Ps. 10,331,920 Ps. 586,288,629 Ps. (581,015,889 ) SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION STATEMENT OF CASH FLOWS For the six-month Petróleos Subsidiary Non-guarantor PEMEX Mexicanos guarantors subsidiaries Eliminations consolidated Operating activities: Net (loss) income for the period Ps. (22,885,348 ) Ps. 4,388,202 Ps. 2,883,205 Ps. (7,379,423 ) Ps. (22,993,364 ) Income tax and duties (1,078,490 ) 136,188,975 676,736 — 135,787,221 Depreciation and amortization 471,945 66,721,551 1,004,371 — 68,197,867 Amortization of intangible assets 32,696 14,715 33,864 — 81,275 (Reversal of impairment) of wells, pipelines, properties, plant and equipment — (32,192,460 ) — — (32,192,460 ) Capitalized unsuccessful wells — 6,476 — — 6,476 Unsuccessful wells from intangible assets — 4,663,242 — — 4,663,242 Loss from derecognition of disposal of wells, pipelines, properties, plant and equipment — 49,105 998,063 — 1,047,168 Impairment of rights of use — 213,260 — — 213,260 Depreciation of rights of use 336,354 2,375,342 542,467 — 3,254,163 Unrealized foreign exchange loss of reserve for well abandonment — 1,620,504 — — 1,620,504 Profit (loss) sharing in joint ventures and associates (7,495,934 ) (41,685 ) 3,582,218 7,163,685 3,208,284 Unrealized foreign exchange (income) (21,622,701 ) (1,235,258 ) (1,059,035 ) — (23,916,994 ) Interest expense 68,588,713 4,321,047 1,253,308 — 74,163,068 Interest income (3,029,165 ) (12,098,820 ) (93,017 ) — (15,221,002 ) Funds (used in) from operating activities: Taxes 9,777,432 (108,153,727 ) (1,996,844 ) — (100,373,139 ) Accounts receivable, accounts payable, derivative financial instruments and accrued liabilities 8,997,111 (55,957,700 ) (38,289,613 ) — (85,250,202 ) Employee benefits (3,102,914 ) 12,719,492 (1,177,642 ) — 8,438,936 Inter-company charges and deductions 34,282,561 (75,335,676 ) 61,974,656 (20,921,541 ) — Cash flows from (used in) operating activities 63,272,260 (51,733,415 ) 30,332,737 (21,137,279 ) 20,734,303 Investing activities: Acquisition of wells, pipelines, properties, plant and equipment and intangible assets (149,157 ) (58,095,378 ) (16,596,538 ) — (74,841,073 ) Other assets and other receivables 214,888 1,998,987 (29,355,311 ) — (27,141,436 ) (Increase) decrease due to Inter-company investing (96,093,496 ) — 261,210 95,832,286 — Cash flows (used in) investing activities (96,027,765 ) (56,096,391 ) (45,690,639 ) 95,832,286 (101,982,509 ) Financing activities: Increase in equity due to Certificates of Contribution “A” 113,174,000 — — — 113,174,000 Interest received for long-term receivables from the Mexican Government 3,472,081 — — — 3,472,081 Lease payments of principal and interest (220,085 ) (4,382,291 ) (588,674 ) — (5,191,050 ) Loans obtained from financial institutions 235,597,947 14,697 510,844,611 — 746,457,255 Debt payments, principal only (179,481,640 ) (6,045,282 ) (513,687,679 ) — (699,214,601 ) Interest paid (72,836,046 ) (2,709,889 ) (1,062,872 ) — (76,608,807 ) Inter-company increase (decrease) financing (61,258,201 ) 122,875,494 13,077,714 (74,695,007 ) — Cash flows provided by financing activities: 38,448,056 109,752,729 8,583,100 (74,695,007 ) 82,088,878 Net increase (decrease) in cash and cash equivalents 5,692,551 1,922,923 (6,774,802 ) — 840,672 Effects of change in cash value — — 705,516 — 705,516 Cash and cash equivalents at the beginning of the year 9,394,220 4,970,074 25,625,487 — 39,989,781 Cash and cash equivalents at the end of the period 15,086,771 6,892,997 19,556,201 — 41,535,969 SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION STATEMENT OF CASH FLOWS For the six-month Petróleos Subsidiary Non-guarantor PEMEX Mexicanos guarantors subsidiaries Eliminations consolidated Operating activities: Net (loss) income for the period Ps. (606,461,209 ) Ps. (571,121,059 ) Ps. (15,293,684 ) Ps. 586,288,629 Ps. (606,587,323 ) Income tax and duties 2,840,002 76,753,612 4,527,866 — 84,121,480 Depreciation and amortization 537,871 63,050,428 736,476 — 64,324,775 Amortization of intangible assets 122,057 43,171 25,516 — 190,744 (Reversal of impairment) of wells, pipelines, properties, plant and equipment — (7,924,576 ) — — (7,924,576 ) Capitalized unsuccesful wells — 3,237,075 — — 3,237,075 Unsuccesful wells from intangible assets — 4,258,607 — — 4,258,607 Loss from derecognition of disposal of wells, pipelines, properties, plant and equipment 93,961 1,444,556 505,319 — 2,043,836 Depreciation of rights of use 321,332 2,748,028 622,186 — 3,691,546 Unrealized foreign exchange loss of reserve for well abandonment — 1,770,407 — — 1,770,407 Gains on disposal of subsidiary companies — — (833,180 ) — (833,180 ) Profit (loss) sharing in joint ventures and associates 586,190,213 (12,654 ) 823,278 (586,190,213 ) 810,624 Unrealized foreign exchange loss 368,863,357 18,309,842 10,521,377 — 397,694,576 Interest expense 72,190,326 21,891,076 2,760,097 — 96,841,499 Interest income (3,966,492 ) — — — (3,966,492 ) Funds (used in) from operating activities: Taxes (344,841 ) (92,741,623 ) (4,933,342 ) — (98,019,806 ) Accounts receivable, accounts payable, derivative financial instruments and accrued liabilities 13,444,386 (35,665,214 ) 11,821,703 — (10,399,125 ) Employee benefits 9,236,204 29,502,245 (5,440,306 ) — 33,298,143 Inter-company charges and deductions (129,797,486 ) 81,422,717 51,097,058 (2,722,289 ) — Cash flows from (used in) operating activities 313,269,681 (403,033,362 ) 56,940,364 (2,623,873 ) (35,447,190 ) Investing activities: Acquisition of wells, pipelines, properties, plant and equipment and intangible assets (100,682 ) (54,144,400 ) (8,467,531 ) — (62,712,613 ) Other assets and other receivables (68,529 ) 1,825,534 (1,510,037 ) — 246,968 (Increase) decrease due to Inter-company investing (435,742,972 ) — (437 ) 435,743,409 — Cash flows (used in) investing activities (435,912,183 ) (52,318,866 ) (9,978,005 ) 435,743,409 (62,465,645 ) Financing activities: Increase in equity due to Certificates of Contribution “A” 46,063,000 — — — 46,063,000 Interest received for long-term receivable from the Mexican Government 4,983,670 — — — 4,983,670 Lease payments of principal and interest (328,344 ) (5,135,268 ) (696,059 ) — (6,159,671 ) Loans obtained from financial institutions 346,691,795 — 229,673,481 — 576,365,276 Debt payments, principal only (235,172,486 ) (2,761,886 ) (256,921,531 ) — (494,855,903 ) Interest paid (62,253,347 ) (2,911,906 ) (2,713,931 ) — (67,879,184 ) Inter-company increase (decrease) financing 7,369,142 466,203,386 (40,452,992 ) (433,119,536 ) — Cash flows from (used in) financing activities: 107,353,430 455,394,326 (71,111,032 ) (433,119,536 ) 58,517,188 Net increase (decrease) in cash and cash equivalents (15,289,072 ) 42,098 (24,148,673 ) — (39,395,647 ) Effects of change in cash value — — 16,035,097 — 16,035,097 Cash and cash equivalents at the beginning of the year 28,234,857 4,826,057 27,560,717 — 60,621,631 Cash and cash equivalents at the end of the period Ps. 12,945,785 Ps. 4,868,155 Ps. 19,447,141 Ps. — Ps. 37,261,081 |