CONSOLIDATED STATEMENTS

OF CHANGES IN STOCKHOLDERS’ EQUITY

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY

Year ended December 31, 2024 and 2023
Figures expressed in thousands of pesos, except dividends paid per share

  NOTE   Capital
stock
  Retained
earnings
  Capital
reserves
  Total
stockholder’s
investment in
controlling
interest
  Non- controlling
interest
  Total
stockholder’s
equity
Balance at January 1, 2023   $  3,374,282 $  118,914,242 $  9,894,258 $  132,182,782 $  271,734 $  132,454,516
Changes in accounting policies on investment in associates     -   20,943   -   20,943   -   20,943
                           
Comprehensive income:                          
Net income     -   19,486,518   -   19,486,518   14,696   19,501,214
Financial asset at fair value through other comprehensive income - net of income tax     -   (28,508)   -   (28,508)   -   (28,508)
Remeasurement of the liability for defined benefits - net of income tax     -   (312,295)   -   (312,295)   937   (311,358)
Translation effect of investment in associates - net of income tax     -   -   (506,965)   (506,965)   -   (506,965)
Cash flow hedging financial instruments     -   -   (104,787)   (104,787)   -   (104,787)
Total comprehensive income     -   19,145,715   (611,752)   18,533,963   15,633   18,549,596
Transaction with owners:                          
Increase in reserve of repurchase of shares 22.2   -   (33,998)   33,998   -   -   -
Repurchase of shares - net 22.2   -   -   (22,204)   (22,204)   -   (22,204)
Dividends decreed ($2.61 pesos per share)     -   (3,503,132)   -   (3,503,132)   -   (3,503,132)
Total transactions with stockholders     -   (3,537,130)   11,794   (3,525,336)   -   (3,525,336)
Balance at December 31, 2023     3,374,282   134,543,770   9,294,300   147,212,352   287,367   147,499,719
Changes in accounting policies on investment in associates     -   (3,401)   -   (3,401)   -   (3,401)
                           
Comprehensive income:                          
Net income     -   23,154,279   -   23,154,279   15,387   23,169,666
Financial asset at fair value through other comprehensive income - net of income tax     -   1,960,806   -   1,960,806   -   1,960,806
Remeasurement of the liability for defined benefits - net of income tax     -   (27,125)   (27,125)   800   (26,325)
Translation effect of investment in associates - net of income tax     -   -   937,913   937,913   -   937,913
Cash flow hedging financial instruments     -   -   138,859   138,859   -   138,859
Total comprehensive income     -   25,087,960   1,076,772   26,164,732   16,187   26,180,919
Transaction with owners:                          
Increase in reserve of repurchase of shares 22.2   -   (2,000,000)   2,000,000   -   -   -
Repurchase of shares - net 22.2   -   -   (3,874)   (3,874)   -   (3,874)
Dividends decreed ($2.95 pesos per share)     -   (3,959,478)   -   (3,959,478)   -   (3,959,478)
Total transactions with stockholders     -   (5,959,478)   1,996,126   (3,963,352)   -   (3,963,352)
Balance at December 31, 2024   $  3,374,282 $  153,668,851 $  12,367,198 $  169,410,331 $  303,554 $  169,713,885

The accompanying notes are part of these consolidated financial statements.