Consolidated

Financial

Statements

 

Consolidated Income Statements

 

FOMENTO ECONÓMICO MEXICANO, S.A.B. DE C.V. AND SUBSIDIARIES
MONTERREY, N.L., MEXICO

 

For the years ended December 31, 2016, 2015 and 2014.
Amounts expressed in millions of U.S. dollars ($)
and in millions of Mexican pesos (Ps.), except per share amounts.		 Note 2016 (*) 2016 2015 2014
                   
Net sales     $ 19,335   Ps. 398,622   Ps. 310,849   Ps. 262,779
Other operating revenues     42   885   740   670
Total revenues     19,377   399,507   311,589   263,449
Cost of goods sold     12,189   251,303   188,410   153,278
Gross profit     7,188   148,204   123,179   110,171
Administrative expenses     714   14,730   11,705   10,244
Selling expenses     4,634   95,547   76,375   69,016
Other income 19   56   1,157   423   1,098
Other expenses 19   287   5,909   2,741   1,277
Interest expense 18   468   9,646   7,777   6,701
Interest income     63   1,299   1,024   862
Foreign exchange gain (loss), net     55   1,131   (1,193)   (903)
Monetary position gain (loss), net     117   2,411   (36)   (319)
Market value gain on financial instruments     9   186   364   73
Income before income taxes and share of the profit of associates                  
and joint ventures accounted for using the equity method     1,385   28,556   25,163   23,744
Income taxes 24   383   7,888   7,932   6,253
Share of the profit of associates and joint ventures accounted                  
for using the equity method, net of taxes 10   316   6,507   6,045   5,139
Consolidated net income     $ 1,318   Ps. 27,175   Ps. 23,276   Ps. 22,630
Attributable to:                  
Controlling interest     1,025   21,140   17,683   16,701
Non-controlling interest     293   6,035   5,593   5,929
Consolidated net income     $ 1,318   Ps. 27,175   Ps. 23,276   Ps. 22,630
Basic net controlling interest income:                  
Per series “B” share 23   $ 0.05   Ps. 1.05   Ps. 0.88   Ps. 0.83
Per series “D” share 23   0.06   1.32   1.10   1.04
Diluted net controlling interest income:                  
Per series “B” share 23   0.05   1.05   0.88   0.83
Per series “D” share 23   0.06   1.32   1.10   1.04

(*) Convenience translation to U.S. dollars ($) – See Note 2.2.3
The accompanying notes are an integral part of these consolidated income statements.