| For the years ended December 31, 2011, 2010 and 2009. Amounts expressed in millions of U.S. dollars ($) and in millions of Mexican pesos (Ps.). |
2011 |
2010 | 2009 | |||||
| Cash Flow Generated by (Used in) Operating Activities: | ||||||||
| Income before income taxes from continuing operations | $ | 2,033 | Ps. | 28,371 | Ps. | 23,632 | Ps. | 16,758 |
| Non-cash operating expenses | 31 | 513 | 386 | 664 | ||||
| Other adjustments regarding operating activities | 113 | 1,583 | 545 | 773 | ||||
| Adjustments regarding investing activities: | ||||||||
| Depreciation | 394 | 5,498 | 4,527 | 4,391 | ||||
| Amortization | 75 | 1,043 | 975 | 798 | ||||
| (Gain) loss on sale of long-lived assets | (1) | (9) | 215 | 177 | ||||
| Gain on sale of shares | - | (1) | (1,554) | (35) | ||||
| Disposal of long-lived assets | 50 | 703 | 9 | 129 | ||||
| Interest income | (72) | (999) | (1,104) | (1,205) | ||||
| Equity method of associates | (370) | (5,167) | (3,538) | (132) | ||||
| Adjustments regarding financing activities: | ||||||||
| Interest expenses | 210 | 2,934 | 3,265 | 4,011 | ||||
| Foreign exchange (gain) loss, net | (84) | (1,165) | 614 | 431 | ||||
| Gain on monetary position, net | (9) | (146) | (410) | (486) | ||||
| Market value loss (gain) on ineffective portion of derivative financial instruments | 11 | 159 | (212) | (124) | ||||
| 2,387 | 33,317 | 27,350 | 26,150 | |||||
| Accounts receivable and other current assets | (202) | (2,819) | (1,402) | (681) | ||||
| Inventories | (160) | (2,227) | (1,369) | (698) | ||||
| Suppliers and other accounts payable | 107 | 1,492 | 823 | 2,373 | ||||
| Other liabilities | (40) | (566) | (249) | (267) | ||||
| Employee benefits | (36) | (496) | (530) | (302) | ||||
| Income taxes paid | (463) | (6,457) | (6,821) | (3,831) | ||||
| Net cash flows provided by continuing operations | 1,593 | 22,244 | 17,802 | 22,744 | ||||
| Net cash flows provided by discontinued operations | - | - | 1,127 | 8,181 | ||||
| Net cash flows provided by operating activities | 1,593 | 22,244 | 18,929 | 30,925 | ||||
| Cash Flow Generated by (Used in) Investing Activities: | - | - | ||||||
| BRISA acquisition, net of cash acquired (see Note 5 A) | - | (717) | ||||||
| Payment of debt for the acquisition of Grupo Tampico, | - | - | ||||||
| net of cash acquired (see Note 5 A) | (173) | (2,414) | - | - | ||||
| Payment of debt for the acquisition of Grupo CIMSA, | ||||||||
| net of cash acquired (see Note 5 A) | (137) | (1,912) | - | - | ||||
| Purchase of investments | (97) | (1,351) | (66) | (2,001) | ||||
| Proceeds from investments | 5 | 68 | 1,108 | - | ||||
| Recovery of long-term financing receivables with FEMSA Cerveza | - | - | 12,209 | - | ||||
| Net effects of FEMSA Cerveza exchange | - | - | 876 | - | ||||
| Other disposals | - | - | 1,949 | - | ||||
| Interest received | 71 | 991 | 1,104 | 1,205 | ||||
| Dividends received | 119 | 1,661 | 1,304 | - | ||||
| Long-lived assets acquisition | (760) | (10,615) | (9,590) | (7,315) | ||||
| Long-lived assets sale | 38 | 535 | 624 | 679 | ||||
| Other assets | (324) | (4,515) | (2,448) | (1,880) | ||||
| Intangible assets | (38) | (538) | (892) | (1,347) | ||||
| Net cash flows (used in) generated by investment activities | ||||||||
| by continuing operations | (1,296) | (18,090) | 6,178 | (11,376) | ||||
| Net cash flows used in investment activities by discontinued operations | - | - | (4) | (3,389) | ||||
| Net cash flows (used in) generated by investing activities | (1,296) | (18,090) | 6,174 | (14,765) | ||||
| Net cash flows available for financing activities | 297 | 4,154 | 25,103 | 16,160 | ||||
| Cash Flow Generated by (Used in) Financing Activities: | ||||||||
| Bank loans obtained | 474 | 6,606 | 9,016 | 14,107 | ||||
| Bank loans paid | (267) | (3,732) | (12,536) | (15,533) | ||||
| Interest paid | (218) | (3,043) | (3,018) | (4,259) | ||||
| Dividends declared and paid | (475) | (6,625) | (3,813) | (2,246) | ||||
| Acquisition of noncontrolling interest | (8) | (115) | (219) | 67 | ||||
| Other liabilities | (1) | (13) | 74 | (25) | ||||
| Net cash flows used in financing activities by continuing operations | (495) | (6,922) | (10,496) | (7,889) | ||||
| Net cash flows used in financing activities by discontinued operations | - | - | (1,012) | (909) | ||||
| Net cash flows used in financing activities | (495) | (6,922) | (11,508) | (8,798) | ||||
| Net cash flow by continuing operations | (198) | (2,768) | 13,484 | 3,479 | ||||
| Net cash flow by discontinued operations | - | - | 111 | 3,883 | ||||
| Net cash flow | (198) | (2,768) | 13,595 | 7,362 | ||||
| Translation and restatement effect on cash and cash equivalents | 143 | 2,000 | (1,006) | (1,173) | ||||
| Initial cash | 1,942 | 27,097 | 15,824 | 9,635 | ||||
| Initial cash of discontinued operations | - | - | (1,316) | - | ||||
| Initial cash and cash equivalents | 1,942 | 27,097 | 14,508 | 9,635 | ||||
| Ending balance | 1,887 | 26,329 | 27,097 | 15,824 | ||||
| Ending balance by discontinued operations | - | - | - | (1,316) | ||||
| Total ending balance of cash and cash equivalents, net | $ | 1,887 | Ps. | 26,329 | Ps. | 27,097 | Ps | 14,508 |
The accompanying notes are an integral part of this consolidated statement of cash flows.