CONSOLIDATED STATEMENTS OF
Comprehensive Income

Figures expressed in thousands of pesos,
except earnings per share

        December 31,
  Note   2022   2021
Operating revenue:          
Net sales of merchandise   $ 157,606,549 $ 135,700,434
Interest earned from customers     13,199,946   11,138,534
Leasing income     3,721,874   3,090,038
Services     1,134,990   780,745
Other income     370,361   311,994
Total revenue 2.22   176,033,720   151,021,745
           
Costs and expenses:          
Cost of sales     107,576,972   93,950,314
Provision for credit losses     1,791,024   1,859,558
Administrative expenses     41,150,345   36,478,513
Total costs and expenses 24   150,518,341   132,288,385
           
Operating income     25,515,379   18,733,360
Interest expense     (3,989,142)   (4,649,854)
Foreign exchange loss     (1,456,423)   (1,033,370)
Financing cost     (5,445,565)   (5,683,224)
           
Foreign exchange gain     980,772   1,324,545
Return on investments     1,766,647   1,276,461
Financial income     2,747,419   2,601,006
           
Equity in the results of associates 11.2   376,918   737,292
Profit before income tax     23,194,151   16,388,434
Income tax 22   (5,796,912)   (3,510,175)
Consolidated net income     17,397,239   12,878,259
           
Other comprehensive income:          
Components to be subsequently reclassified to income:          
Cash flow hedges     (995,380)   857,445
Translation effect of investment in associates - Net of income tax     (476,923)   197,076
Components not to be subsequently reclassified to income:          
Changes in the fair value of equity investments at fair value through other comprehensive income - Net of income tax 15   (694,407)   -
Remeasurement of the liability for defined benefits - Net of income tax     (420,058)   (84,837)
Consolidated comprehensive income   $ 14,810,470 $ 13,847,943
           
Net income attributable to:          
Controlling interest   $ 17,384,903 $ 12,868,176
Non-controlling interests     12,336   10,083
    $ 17,397,239 $ 12,878,259
Basic and diluted earnings per share 21.4 $ 12.96 $ 9.57
           
Comprehensive income attributable to:          
Controlling interest   $ 14,798,231 $ 13,831,831
Non-controlling interests     12,240   16,112
    $ 14,810,471 $ 13,847,943
Basic and diluted earnings per share   $ 11.03 $ 10.29

The accompanying notes are an integral part of these consolidated financial statements.