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

Consolidated and combined statements of cash flows

v3.23.1
Consolidated and combined statements of cash flows - MXN ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating activities:      
Net income for the year $ 869,964 $ 1,747,939 $ 298,444
Adjustments for:      
Income tax expense 516,920 814,556 525,661
Depreciation and amortization 287,702 82,122 43,688
Accounting effects from changing reporting period (36,400)
Interest expense 543,321 75,818 80,253
Interest income (28,689) (25,872) (10,930)
Loss (gain) on disposal of non-current assets 4,758 (478) 9,216
Share-based payment expense 5,991 32,910
Divestment of subsidiaries 10,983
Others (8,653) (12,974)
Changes in fair value of warrants 851,520
Unrealized (gain) loss in valuation of derivative financial instruments 43,522 (330,315) 287,985
Total adjustments 2,245,819 2,314,396 2,118,747
(Increase) decrease in:      
Trade accounts receivable 266,640 (21,347) (487,938)
Trade accounts receivable from related parties 30,246 (24) 610
Inventory 171,260 4,893 (939,118)
Prepaid expenses and other assets (48,383) 22,894 (53,611)
Accounts payable to suppliers and accrued expenses (940,039) (64,699) 1,604,589
Trade accounts payable to related parties 97,029
Provisions (24,640) (35,537) 107,289
Value-added tax payable 110,231 (26,703) (3,596)
Statutory employee profit sharing 22,798 47,951 2,348
Employee benefits 21,268 1,722 (743)
Income taxes paid (542,527) (777,949) (526,321)
Net cash provided by operating activities 1,409,702 1,465,597 1,822,256
Investing activities:      
Payment of business acquisition net of cash acquired (4,698,463)
Other investment in subsidiaries (1,886) 50
Payments of fixed and intangible assets (175,653) (401,736) (617,686)
Proceeds from disposal of fixed assets 22,091 12,521 18,270
Interest received 28,689 25,872 10,930
Restricted cash 42,915 (42,915)
Net cash used in investing activities (4,825,222) (320,378) (631,401)
Financing activities:      
Proceeds from borrowings 5,818,705 1,520,000 1,712,207
Repayment of borrowings (1,120,025) (646,716) (1,757,112)
Repayment of derivative financial instruments (18,172)
Bond issuance costs (88,722) (18,931)  
Interest paid on borrowings (502,847) (49,123) (121,297)
Lease payments (76,214) (6,899) (8,825)
Cash received for issuance of shares 250,295
Share repurchases (25,321)
Dividends paid (949,610) (1,400,000) (830,000)
Net cash generated by (used in) financing activities 3,055,966 (619,841) (754,732)
(Decrease) increase in cash and cash equivalents (359,554) 525,378 436,123
Cash and cash equivalents at the beginning of year 1,175,198 649,820 213,697
Cash and cash equivalents at the end of year $ 815,644 $ 1,175,198 $ 649,820