The following disclosures provide a sensitivity analysis of the market risks management considered to be reasonably possible at the end of the reporting period based on a stress test of the exchange rates according to an annualized volatility estimated with historic prices obtained for the underlying asset over a period of time, in the cases of derivative financial instruments related to foreign currency risk, which the Company is exposed to as it relates to in its existing hedging strategy:
|
Foreign Currency Risk |
Change in Exchange Rate |
Effect on Equity | ||||||
|
2017 |
||||||||
|
FEMSA (1) |
+13% MXN/EUR | Ps. | (141 | ) | ||||
| +8% CLP/USD | 2 | |||||||
| -13% MXN/EUR | 141 | |||||||
| -8% CLP/USD | (2 | ) | ||||||
|
Coca-Cola FEMSA |
+12% MXN/USD | 626 | ||||||
| +9% COP/USD | 73 | |||||||
| +14% BRL/USD | 234 | |||||||
| +10% ARS/USD | 29 | |||||||
| -12% MXN/USD | (625 | ) | ||||||
| -9% COP/USD | (73 | ) | ||||||
| -14% BRL/USD | (234 | ) | ||||||
| -10% ARS/USD | (29 | ) | ||||||
|
2016 |
||||||||
|
FEMSA (1) |
-17% MXN/EUR | Ps. | 293 | |||||
| +17% MXN/EUR | (293 | ) | ||||||
| +11% CLP/USD | 12 | |||||||
| -11% CLP/USD | (12 | ) | ||||||
|
Coca-Cola FEMSA |
-18% BRL/USD | (203 | ) | |||||
| +18% BRL/USD | 203 | |||||||
| -17% MXN/USD | (916 | ) | ||||||
| +17% MXN/USD | 916 | |||||||
| -18% COP/USD | (255 | ) | ||||||
| +18% COP/USD | 255 | |||||||
|
2015 |
||||||||
|
FEMSA (1) |
-14% MXN/EUR | 319 | ||||||
| +14% MXN/EUR | Ps. | (319) | ||||||
| +10% CLP/USD | 9 | |||||||
| -10% CLP/USD | (9 | ) | ||||||
| -11% MXN/USD | 197 | |||||||
|
Coca-Cola FEMSA |
+11% MXN/USD | (197 | ) | |||||
| +21% BRL/USD | (387 | ) | ||||||
| +17% COP/USD | (113 | ) | ||||||
| -36% ARS/USD | 231 | |||||||
| +36% ARS/USD | (231 | ) | ||||||
| -21% BRL/USD | 387 | |||||||
| -17% COP/USD | 113 | |||||||
| +17% COP/USD | (113 | ) | ||||||
| (1) | Does not include Coca-Cola FEMSA. |
|
Cross Currency Swaps (1) (2) |
Change in Exchange Rate |
Effect on Equity |
Effect on Profit or Loss |
|||||||||
|
2017 |
||||||||||||
|
FEMSA (3) |
+8% CLP/USD | — | 373 | |||||||||
| -8% CLP/USD | — | (373 | ) | |||||||||
| +12% MXN/USD | — | 3,651 | ||||||||||
| -12% MXN/USD | Ps. | — | Ps. | (3,651) | ||||||||
| +9% COP/USD | — | 304 | ||||||||||
| -9% COP/USD | — | (304 | ) | |||||||||
| +14% MXN/BRL | — | 23 | ||||||||||
| -14% MXN/BRL | — | (23 | ) | |||||||||
|
Coca-Cola FEMSA |
+12% MXN/USD | 3,540 | — | |||||||||
| +14% BRL/USD | 7,483 | — | ||||||||||
| -12% MXN/USD | (3,540 | ) | — | |||||||||
| -14% BRL/USD | (7,483 | ) | — | |||||||||
|
2016 |
||||||||||||
| -11% CLP/USD | — | (549 | ) | |||||||||
| +11% CLP/USD | — | 549 | ||||||||||
| -17% MXN/USD | — | (3,836 | ) | |||||||||
|
FEMSA (3) |
+17% MXN/USD | Ps. | — | Ps. | 3,836 | |||||||
| -18% COP/USD | — | (448 | ) | |||||||||
| +18% COP/USD | — | 448 | ||||||||||
|
Coca-Cola FEMSA |
+17% MXN/USD | 3,687 | 1,790 | |||||||||
| +18% BRL/USD | 9,559 | — | ||||||||||
| -17% MXN/USD | (3,687 | ) | (1,790 | ) | ||||||||
| -18% BRL/USD | (9,559 | ) | — | |||||||||
|
2015 |
||||||||||||
|
FEMSA (3) |
-11% MXN/USD | Ps. | — | Ps. | (2,043 | ) | ||||||
| +11% MXN/USD | — | 2,043 | ||||||||||
|
Coca-Cola FEMSA |
-11% MXN/USD | — | (938 | ) | ||||||||
| +11% MXN/USD | — | 938 | ||||||||||
| -21% BRL/USD | (4,517 | ) | (1,086 | ) | ||||||||
| +21% BRL/USD | 4,517 | 1,086 | ||||||||||
| (1) | The sensitivity analysis effects include all subsidiaries of the Company. |
| (2) | Includes the sensitivity analysis effects of all derivative financial instruments related to foreign exchange risk. |
| (3) | Does not include Coca-Cola FEMSA. |
|
Net Cash in Foreign Currency (1) |
Change in Exchange Rate |
Effect on Profit or Loss |
||||||
|
2017 |
||||||||
|
FEMSA (2) |
+13% EUR/ +12% USD | Ps. | 8,077 | |||||
| -13% EUR/ -12% USD | (8,077 | ) | ||||||
|
Coca-Cola FEMSA |
+12% USD | (553 | ) | |||||
| -12% USD | 553 | |||||||
|
2016 |
||||||||
|
FEMSA (2) |
+17% EUR/ +17% USD | Ps. | 3,176 | |||||
| -17% EUR/ -17% USD | (3,176 | ) | ||||||
|
Coca-Cola FEMSA |
+17% USD | (105 | ) | |||||
| -17% USD | 105 | |||||||
|
2015 |
||||||||
|
FEMSA (2) |
+14% EUR/ +11%USD | Ps. | 504 | |||||
| -14% EUR/ -11%USD | (504 | ) | ||||||
|
Coca-Cola FEMSA |
+11%USD | (1,112 | ) | |||||
| -11%USD | 1,112 | |||||||
| (1) | The sensitivity analysis effects include all subsidiaries of the Company. |
| (2) | Does not include Coca-Cola FEMSA. |
|
Commodity Price Contracts (1) |
Change in U.S.$ Rate |
Effect on Equity |
||||||
|
2017 |
||||||||
|
Coca-Cola FEMSA |
Sugar - 30% | Ps. | (32 | ) | ||||
|
2016 |
||||||||
|
Coca-Cola FEMSA |
Sugar - 33% | Ps. | (310 | ) | ||||
| Aluminum - 16% | (13 | ) | ||||||
|
2015 |
||||||||
|
Coca-Cola FEMSA |
Sugar - 31% | Ps. | (406 | ) | ||||
| Aluminum - 18% | (58 | ) | ||||||
| (1) | Effects on commodity price contracts are only in Coca-Cola FEMSA. |