| 30 | Capital management policies and procedures |
Grupo TMM’s capital management goal is to ensure the capacity of Grupo TMM to continue as a going concern and to provide its stockholders with an appropriate return on their investment. The Company monitors capital based on the carrying value plus its financial debt.
The Company sets its capital amount proportionate to its overall financing structure, meaning, the capital and financial liabilities that are not loans. Grupo TMM manages the capital structure and makes adjustments in light of changes in the economic conditions and the associated risks of the underlying assets. In order to maintain or adjust the capital structure, Grupo TMM may adjust the amount of capital reimbursements to stockholders, or issue new shares or sell assets to reduce its financial debt.
At December 31, 2017 and 2016, the capital management is summarized as follows:
| | | 2017 | | | 2016 | |
Stockholders’ equity | | $ | 2,229,062 | | | $ | 963,990 | |
| | | | | | | | | |
Total financial debt | | | 898,618 | | | | 10,070,457 | |
Cash and cash equivalents | | | (461,554 | ) | | | (902,704 | ) |
General financing | | $ | 437,064 | | | $ | 9,167,753 | |
| | | | | | | | | |
Ratio of total debt to stockholders’ equity | | | 0.20 | | | | 9.51 | |
