CONSOLIDATED STATEMENTS OF
Comprehensive Income, expenses classified by function
(Notes 1, 2 and 3)
Figures expressed in thousands of pesos
| December 31, | |||||
| Note | 2020 | 2019 | |||
|---|---|---|---|---|---|
| Operating revenue: | |||||
| Net sales of merchandise | $ | 100,016,923 | $ | 126,244,910 | |
| Interest earned from customers | 11,953,744 | 13,357,448 | |||
| Leasing income | 2,579,175 | 3,553,455 | |||
| Services | 509,044 | 371,711 | |||
| Other income | 413,661 | 705,983 | |||
| Total revenue | 2.22 | 115,472,547 | 144,233,507 | ||
| Costs and Expenses: | |||||
| Cost of sales | 73,599,463 | 86,833,223 | |||
| Provision for impairment of the loan portfolio | 5,182,681 | 3,911,269 | |||
| Administrative expenses | 32,878,303 | 34,317,814 | |||
| Total costs and expenses | 23 | 111,660,447 | 125,062,306 | ||
| Operating income | 3,812,100 | 19,171,201 | |||
| Interest expense | (4,210,487) | (3,678,467) | |||
| Foreign exchange loss | (2,883,367) | (2,834,450) | |||
| Financing cost | (7,093,854) | (6,512,917) | |||
| Foreign exchange gain | 2,666,153 | 2,825,856 | |||
| Return on investments | 1,510,777 | 824,065 | |||
| Financial income | 4,176,930 | 3,649,921 | |||
| Equity in the results of associates | 11 | (523,773) | 684,274 | ||
| Profit before income tax | 371,403 | 16,992,479 | |||
| Income tax | 21 | (382,321) | 4,599,879 | ||
| Consolidated net income | 753,724 | 12,392,600 | |||
| Other comprehensive income, net of taxes: | |||||
| Components to be subsequently reclassified to income: | |||||
| Cash flow hedges- Net of income tax | (30,510) | (1,119,262) | |||
| Translation effect of investment in associates | 146,762 | (330,996) | |||
| Components to not to be subsequently reclassified to income: | |||||
| Remeasurement of the liability for defined benefits- Net of Income tax |
17 | (7,210) | (356,775) | ||
| Consolidated comprehensive income | $ | 862,766 | $ | 10,585,567 | |
| Net income attributable to: | |||||
| Controlling interest | $ | 750,115 | $ | 12,383,120 | |
| Non-controlling interests | 3,609 | 9,480 | |||
| $ | 753,724 | $ | 12,392,600 | ||
| Basic and diluted earnings per share | 20.4 | $ | 0.56 | $ | 9.25 |
| Comprehensive income attributable to: | |||||
| Controlling interest | $ | 859,070 | $ | 10,576,334 | |
| Non-controlling interests | 3,696 | 9,233 | |||
| $ | 862,766 | $ | 10,585,567 | ||
| Basic and diluted earnings per share | $ | 0.64 | $ | 7.90 | |
The 
accompanying notes are an integral part of these consolidated financial statements.