Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Employee benefits

v3.22.1
Employee benefits
12 Months Ended
Dec. 31, 2021
Employee benefits  
Employee benefits

19.Employee benefits

Post-employment benefits –

The Group recognizes the liability and corresponding impacts to profit and loss as well as comprehensive income regarding to the seniority premiums to be paid to its employees. This benefit is determined considering the years of service and the compensation from the employees.

The components of the defined benefit liability for the periods of 2021, 2020 and 2019, are as follows:

a) Movement in net defined liability –

The following table shows a reconciliation from the opening balances to the closing balances for the net defined benefit liability and its components:

    

2021

    

2020

    

2019

Balance at January 01

 

Ps.

1,678

 

1,630

 

1,355

Included in profit or loss:

 

  

  

 

  

 

  

Current service cost

 

  

614

 

425

 

424

Interest cost

 

  

101

 

114

 

123

Net cost of the period

 

  

715

 

539

 

547

Included in other comprehensive income:

 

  

  

 

  

 

  

Actuarial loss (gain)

 

  

(83)

 

1,199

 

(102)

Income tax effect

 

  

 

(360)

 

26

Other:

 

  

  

 

  

 

  

Benefits paid

 

  

(217)

 

(1,330)

 

(196)

Balance as of December 31, 2021

 

Ps.

2,093

 

1,678

 

1,630

b)

Actuarial assumptions –

The following were the principal actuarial assumptions at the reporting date (expressed as weighted averages):

    

2021

    

2020

    

2019

 

Financial:

 

  

 

  

 

  

Future salary growth

 

5.0

%  

4.0

%  

4.5

%

Discount rate

 

7.6

%  

6.1

%  

7.1

%

Demographic:

 

  

 

  

 

  

Number of employees

 

1,272

 

1,294

 

654

Age average

 

32 years

 

31 years

 

35 years

Longevity average

 

2 years

 

2 years

 

3 years

c)

Sensitivity analysis –

Reasonably possible changes at the reporting date to one of the relevant actuarial assumptions, holding other assumptions constant, would have affected the defined benefit obligation considering a change of ±0.50% in the discount rate.

Effects as of

    

Effects as of

    

Effects as of

December 31,

January 03,

December 31,

2021

2021

2019

Increase / decrease in the discount rate

+ 0.50%  

Ps.

156

 

126

 

(127)

- 0.50%  

  

(174)

 

(141)

 

115