MEXICAN PETROLEUM | CIK:0000932782 | 3

  • Filed: 4/30/2018
  • Entity registrant name: MEXICAN PETROLEUM (CIK: 0000932782)
  • Generator: Donnelley Financial Solutions
  • SEC filing page: http://www.sec.gov/Archives/edgar/data/932782/000119312518143901/0001193125-18-143901-index.htm
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  • ifrs-full:DisclosureOfOperatingSegmentsExplanatory

    The following tables present the condensed financial information of these segments, after elimination of unrealized intersegment gain (loss), and include only select line items. As a result, the line items presented below may not total. These reporting segments are those which PEMEX’s management evaluates in its analysis of PEMEX and on which it bases its decision-making.

     

    As of/for the year ended December 31, 2017

      Exploration
    and

    Production
        Industrial
    Transformation
        Cogeneration
    and
    Services(1)
        Drilling and
    Services
        Logistics     Fertilizers     Ethylene     Trading
    Companies
        Corporate and
    Other Operating
    Subsidiary
    Companies
        Intersegment
    eliminations
        Total  

    Sales:

                         

    Trade

      Ps. —         Ps. 857,456,146     Ps. —       Ps. —       Ps. —         Ps. 4,123,006       Ps. 12,621,648       Ps. 508,539,112       Ps. 3,159,238     Ps. —       Ps. 1,385,899,150  

    Intersegment

        762,637,362       150,360,283       114,233       3,400,456       70,671,871       642,965       1,565,757       539,193,190       79,031,944       (1,607,618,061     —    

    Services income

        —         6,116,937       334,755       41,741       3,714,941       2,339       26,733       66,621       826,502       —         11,130,569  

    (Reversal) impairment of wells pipelines, properties, plant and equipment, net

        129,350,315       15,952,092       —         —         —         1,935,500       —         —         4,206,653       —         151,444,560  

    Cost of sales

        391,089,410       1,004,683,554       472,732       468,171       50,926,263       6,001,259       14,272,340       1,031,997,901       33,033,923       (1,528,740,673     1,004,204,880  
     

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

     

    Gross income (loss)

        242,197,637       (6,702,280     (23,744     2,974,026       23,460,549       (3,168,449     (58,202     15,801,022       45,777,108       (78,877,388     241,380,279  

    Other revenues (expenses), net

        10,204,045       1,515,538       2,646       (31,454     (24,134,436     9,013       23,030       307,212       (5,344,872     22,623,354       5,174,076  

    Distribution, transportation and sales expenses

        —         26,049,566       13,581       —         73,526       528,370       334,663       375,482       59,043       (5,544,561     21,889,670  

    Administrative expenses

        58,539,119       38,994,887       37,679       888,776       7,459,928       352,537       1,105,554       1,564,859       62,001,641       (51,005,526     119,939,454  
     

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

     

    Operating income (loss)

        193,862,563       (70,231,195     (72,358     2,053,796       (8,207,341     (4,040,343     (1,475,389     14,167,893       (21,628,448     296,053       104,725,231  

    Financing income

        121,293,404       11,427,907       147       57,313       1,622,827       2,248       46,113       905,405       145,907,795       (265,097,306     16,165,853  

    Financing cost

        (136,378,338     (2,398,643     (19,882     (795,947     (2,307,427     (211,004     (1,964     (1,328,827     (239,003,771     264,801,255       (117,644,548

    Derivative financial instruments (cost) income, net

        (1,613,874     5,835       —         —         —         —         —         (772,143     27,718,506       —         25,338,324  

    Foreign exchange (loss) income, net

        10,043,316       4,924,209       —         227,365       613,099       (20,925     (10,486     (4,318     7,411,862       —         23,184,122  

    Profit (loss) sharing in joint ventures and associates

        (75,195     485,224       —         —         (74     —         —         1,049,809       (212,666,494     211,567,170       360,440  

    Taxes, duties and other

        338,169,260       —         —         276,967       (7,444,967     —         —         1,972,718       6,063       —         332,980,041  
     

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

     

    Net (loss) income

        (151,037,384     (55,786,663     (92,093     1,265,560       (833,949     (4,270,024     (1,441,726     12,045,101       (292,266,613     211,567,172       (280,850,619
     

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

     

    Total current assets

        1,036,063,541       570,380,888       179,807       6,871,148       49,391,784       3,155,476       3,994,381       158,414,445       506,187,594       (1,971,112,774     363,526,290  

    Investments in joint ventures and associates

        64,328       4       —         —         18,336       —         —         15,805,506       (465,026,224     465,845,414       16,707,364  

    Wells, pipelines, properties,

    plant and equipment, net

        945,945,889       286,423,735       —         18,956,882       119,647,553       5,713,998       19,008,822       6,739,231       34,073,216       —         1,436,509,326  

    Total assets

        2,058,036,405       857,196,306       179,807       26,220,748       191,895,993       8,923,456       23,142,045       186,808,899       2,111,740,735       (3,332,142,280     2,132,002,114  

    Total current liabilities

        284,656,058       459,130,165       531,580       2,201,936       44,521,371       6,455,246       2,183,654       112,046,527       1,439,097,882       (1,961,697,234     389,127,185  

    Long-term debt

        1,826,843,268       25,437,147       —         11,258,734       2,814,640       —         —         2,712,654       1,837,690,559       (1,826,091,398     1,880,665,604  

    Employee benefits

        372,032,958       588,573,518       —         333,212       1,842,892       98,361       105,033       (966,238     296,416,386       —         1,258,436,122  

    Total liabilities

        2,570,412,398       1,077,108,748       531,580       13,886,424       56,706,251       6,556,050       2,308,890       116,842,881       3,587,988,972       (3,797,987,695     3,634,354,499  

    Equity (deficit), net

        (512,375,993     (219,912,442     (351,773     12,334,324       135,189,742       2,367,406       20,833,155       69,966,018       (1,476,248,237     465,845,415       (1,502,352,385

    Depreciation and amortization

        127,742,568       17,935,112       —         2,368,123       4,562,140       422,930       1,688,493       (19,798     2,004,945       —         156,704,513  

    Net periodic cost of employee benefits

        32,794,386       52,538,989       —         39,697       (4,954     (1,999     (12,561     16,166       22,703,351       —         108,073,075  

    Acquisition of wells, pipelines, properties, plant and equipment

        67,845,989       14,678,182       —         418,283       5,189,409       219,152       475,196       321,145       4,832,461       —         93,979,817  

     

    (1) Certain of the assets of Pemex Cogeneration and Services have been transferred to Pemex Industrial Transformation.

     

    As of/for the year ended December 31, 2016

      Exploration
    and

    Production
        Industrial
    Transformation
        Cogeneration
    and Services
        Drilling and
    Services
        Logistics     Fertilizers     Ethylene     Trading
    Companies
        Corporate and
    Other Operating
    Subsidiary
    Companies
        Intersegment
    eliminations
        Total  

    Sales:

                         

    Trade

      Ps. —       Ps. 648,088,013     Ps. —       Ps. —       Ps. —       Ps. 3,873,403     Ps. 15,392,552     Ps. 395,118,117     Ps. 2,646,505     Ps. —       Ps. 1,065,118,590  

    Intersegment

        616,380,615       117,096,378       51,913       1,981,754       68,316,958       900,464       1,764,438       405,293,283       50,683,175       (1,262,468,978     —    

    Services income

        —         5,565,604       132,521       70,112       2,813,887       1,908       60,141       236,230       473,415       (379,176     8,974,642  

    (Reversal) impairment of wells pipelines, properties, plant and equipment, net

        (271,709,433     (52,498,881     —         —         (5,829,520     —         (1,276,509     —         —         —         (331,314,343

    Cost of sales

        359,064,884       823,763,927       166,721       143,956       61,248,584       5,506,198       13,936,213       783,691,245       7,260,043       (1,188,959,550     865,822,221  
     

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

     

    Gross income (loss)

        529,025,164       (515,051     17,713       1,907,910       15,711,781       (730,423     4,557,427       16,956,385       46,543,052       (73,888,604     539,585,354  

    Other revenues (expenses), net

        27,346,794       19,964,654       —         591,704       (27,189,969     32,710       63,989       3,412,711       (906,183     (666,804     22,649,606  

    Distribution, transportation and sales expenses

        —         50,792,317       8,232       6       148,215       185,168       481,727       229,432       49,162       (26,663,019     25,231,240  

    Administrative expenses

        54,509,047       34,183,846       32,126       983,560       7,175,451       731,479       2,101,834       1,157,182       60,497,232       (48,718,224     112,653,533  
     

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

     

    Operating income (loss)

        501,862,911       (65,526,560     (22,645     1,516,048       (18,801,854     (1,614,360     2,037,855       18,982,482       (14,909,525     825,835       424,350,187  

    Financing income

        56,040,129       11,056,345       —         72,995       373,301       4,358       64,582       1,098,079       125,964,466       (180,925,000     13,749,255  

    Financing cost

        (109,946,363     (3,188,892     (12,055     (642,711     (481,741     (20,217     (2,980     (1,342,351     (163,400,779     180,193,625       (98,844,464

    Derivative financial instruments (cost) income, net

        —         3,172       —         —         —         —         —         (1,951,959     (12,052,200     —         (14,000,987

    Foreign exchange (loss) income, net

        (217,166,718     (12,858,875     —         (1,570,317     (1,118,537     (29,263     (2,843     174,866       (21,441,056     —         (254,012,743

    Profit (loss) sharing in joint ventures and associates

        (21,164     649,520       —         —         —         —         —         1,586,503       (117,426,818     117,347,804       2,135,845  

    Taxes, duties and other

        276,647,448       —         —         (481,581     (10,010,686     —         —         7,380,870       (9,014,616     —         264,521,435  
     

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

     

    Net (loss) income

        (45,878,653     (69,865,290     (34,700     (142,404     (10,018,145     (1,659,482     2,096,614       11,166,750       (194,251,296     117,442,264       (191,144,342
     

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

     

    Total current assets

        983,260,710       795,237,287       388,422       6,032,213       22,087,801       1,724,967       5,817,262       125,081,531       613,881,578       (2,195,695,848     357,815,923  

    Investments in joint ventures and associates

        139,523       257,159       —         —         —         —         —         17,568,893       (247,349,711     250,121,645       20,737,509  

    Wells, pipelines, properties, plant and equipment, net

        1,176,504,263       311,432,174       —         21,023,629       86,695,514       7,771,634       20,086,650       6,691,813       37,536,571       —         1,667,742,248  

    Total assets

        2,206,418,541       1,107,094,580       388,423       27,673,598       130,824,921       9,556,469       26,007,319       155,376,864       2,359,024,145       (3,692,478,836     2,329,886,024  

    Total current liabilities

        340,011,451       666,467,674       472,236       3,894,121       19,824,792       2,995,088       3,879,828       78,894,485       1,497,612,971       (2,187,862,760     426,189,886  

    Long-term debt

        1,737,109,328       31,495,027       —         12,489,423       4,382,109       —         —         3,597,938       1,757,315,685       (1,739,384,968     1,807,004,542  

    Employee benefits

        362,312,386       575,277,374       191,876       441,127       571,702       20,362       21,893       (749,034     282,321,750       —         1,220,409,436  

    Total liabilities

        2,533,221,665       1,278,138,290       664,829       16,853,202       29,336,417       3,015,450       3,901,722       86,885,889       3,553,477,189       (3,942,600,482     3,562,894,171  

    Equity (deficit), net

        (326,803,124     (171,043,710     (276,406     10,820,396       101,488,504       6,541,019       22,105,597       68,490,975       (1,194,453,044     250,121,646       (1,233,008,147

    Depreciation and amortization

        124,329,921       17,425,472       —         2,559,357       2,230,557       481,241       1,395,232       86,707       1,931,004       —         150,439,491  

    Net periodic cost of employee benefits

        32,617,215       52,886,397       5,860       31,491       30,340       (1,178     1,424       (552,735     24,719,602       —         109,738,416  

    Acquisition of wells, pipelines, properties, plant and equipment

        70,418,370       32,254,531       —         2,053,139       26,344,495       889,420       1,724,690       1,019,484       21,031,214       —         155,735,343  

     

     

    As of/for the year ended December 31, 2015

      Exploration
    and

    Production
        Industrial
    Transformation
        Cogeneration
    and Services
        Drilling and
    Services
        Logistics     Fertilizers     Ethylene     Trading
    Companies
        Corporate and
    Other Operating
    Subsidiary
    Companies
        Intersegment
    eliminations
        Total  

    Sales:

                         

    Trade

      Ps.         —       Ps. 740,190,020     Ps.             —       Ps.             —       Ps.             —       Ps.  1,494,478     Ps. 4,551,413     Ps.  407,214,446     Ps.             —       Ps.             —       Ps.  1,153,450,357  

    Intersegment

        690,642,133       126,294,195       —         1,511,970       598,853       209,970       473,990       353,137,149       18,296,515       (1,191,164,775     —    

    Services income

        —         7,549,061       —         —         10,355,988       236       17,893       661,683       505,032       (10,779,858     8,310,035  

    Impairment of wells, pipelines, properties, plant and equipment

        394,396,580       76,442,079       —         —         5,829,519       —         1,276,512       —         —         —         477,944,690  

    Benefit from change in pension plan

        (46,368,308     (45,808,781     —         —         —         —         —         —         —         —         (92,177,089

    Cost of sales

        427,158,621       876,531,944       2,793       706,896       10,727,462       1,707,548       4,965,414       749,655,199       2,791,350       (1,182,282,621     891,964,606  
     

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

     

    Gross income (loss)

        (84,544,760     (33,131,966     (2,793     805,074       (5,602,140     (2,864     (1,198,630     11,358,079       16,010,197       (19,662,012     (115,971,815

    Other revenues (expenses), net

        (7,957,202     1,243,040       —         38       26,941       14,680       19,909       1,666,783       2,219,539       1,890,785       (875,487

    Distribution, transportation and sales expenses

        —         35,292,527       1,448       —         3,009       4,416       62,071       428,613       254       (6,863,699     28,928,639  

    Administrative expenses

        18,454,281       40,529,587       47,670       8,553       104,794       152,404       519,351       1,967,581       61,609,813       (10,921,939     112,472,095  

    Benefit from change in pension plan

        (17,853,725     (39,975,450     —         —         —         —         —         —         (46,031,780     —         (103,860,955
     

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

     

    Operating income (loss)

        (93,102,518     (67,735,590     (51,911     796,559       (5,683,002     (145,004     (1,760,143     10,628,668       2,651,449       14,411       (154,387,081

    Financing income

        25,852,078       2,789,535       —         43,690       37       3,503       7,728       1,147,870       110,816,691       (125,670,273     14,990,859  

    Financing cost

        (90,822,360     (13,738,104     2,110       (95,280     (61,153     —         —         (1,299,580     (87,289,616     125,530,390       (67,773,593

    Derivative financial instruments (cost) income, net

        —         6,463       —         —         —         —         —         1,347,323       (22,803,663     —         (21,449,877

    Foreign exchange (loss), net

        (132,165,427     (7,364,486     (7,509     (92,046     (11,090     (3,600     (2,802     (49,190     (15,069,424     —         (154,765,574

    (Loss) profit sharing in joint ventures and associates

        (473,082     671,868       —         —         —         —         —         2,056,259       (749,900,890     749,963,960       2,318,115  

    Taxes, duties and other

        376,682,705       1,839,021       —         197,491       (2,069,848     —         —         5,134,176       (50,283,298     —         331,500,247  
     

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

     

    Net (loss) income

        (667,394,014     (87,209,335     (57,310     455,432       (3,685,360     (145,101     (1,755,217     8,697,174       (711,312,155     749,838,488       (712,567,398
     

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

     

    Total current assets

        709,252,019       313,801,630       655,239       2,171,717       49,162,929       1,594,643       4,988,511       73,116,155       275,582,816       (1,163,125,162     267,200,497  

    Investments in joint ventures and associates

        919,654       6,687,977       —         —         —         8,500       —         11,845,489       (242,233,405     246,937,384       24,165,599  

    Wells, pipelines, properties, plant and equipment, net

        966,144,619       246,463,069       —         22,647,454       58,078,603       7,405,969       18,480,684       3,045,704       22,217,529       —         1,344,483,631  

    Total assets

        1,698,909,240       567,486,579       655,240       24,917,981       111,307,038       9,034,376       23,705,118       93,266,620       1,443,189,885       (2,196,817,877     1,775,654,200  

    Total current liabilities

        278,507,394       104,569,842       469,524       1,981,652       14,698,159       1,486,468       4,534,980       34,749,438       1,157,183,570       (1,154,773,306     443,407,721  

    Long-term debt

        1,252,239,594       16,707,005       —         12,031,849       4,850,905       —         —         3,607,840       1,285,676,066       (1,274,240,092     1,300,873,167  

    Employee benefits

        379,150,943       609,492,623       61,171       417,817       368,036       12,533       3,611       (59,581     289,938,288       —         1,279,385,441  

    Total liabilities

        1,985,557,185       735,280,560       530,696       14,431,318       19,917,100       1,499,001       4,538,591       41,420,792       2,747,910,113       (2,443,755,258     3,107,330,098  

    Equity (deficit), net

        (286,647,945     (167,793,981     124,544       10,486,663       91,389,938       7,535,375       19,166,527       51,845,828       (1,304,720,228     246,937,381       (1,331,675,898

    Depreciation and amortization

        144,567,149       20,916,796       —         612,741       337,364       158,505       442,504       84,493       831,698       —         167,951,250  

    Net periodic cost of employee benefits

        23,608,485       21,392,600       (298     —         (310     —         —         (119,819     17,668,484       —         62,549,142  

    Acquisition of wells, pipelines, properties, plant and equipment

        184,786,051       68,935,841       —         —         1,544,224       320,762       1,882,108       677,314       6,711,511       —         264,857,811