| Intangible assets, net |
|
13. |
Intangible
assets, net |
| Acquisition
cost: |
|
As
of
January 1,
2021 |
|
|
Additions |
|
|
Disposals |
|
|
As
of
December 31,
2021 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Brand |
|
Ps. |
253,000 |
|
|
|
- |
|
|
|
- |
|
|
|
253,000 |
|
| Customer
relationships |
|
|
64,000 |
|
|
|
- |
|
|
|
- |
|
|
|
64,000 |
|
| Software |
|
|
45,984 |
|
|
|
65,356 |
|
|
|
- |
|
|
|
111,340 |
|
| Brands
and logo rights |
|
|
5,393 |
|
|
|
70 |
|
|
|
- |
|
|
|
5,463 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Ps. |
368,377 |
|
|
|
65,426 |
|
|
|
- |
|
|
|
433,803 |
|
| Accumulated
amortization: |
|
As
of
January 1,
2021 |
|
|
Amortization
expense |
|
|
Disposals |
|
|
As
of
December 31,
2021 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Customer
relationships |
|
Ps. |
(37,333 |
) |
|
|
(6,400 |
) |
|
|
- |
|
|
|
(43,733 |
) |
| Software |
|
|
(7,096 |
) |
|
|
(8,377 |
) |
|
|
- |
|
|
|
(15,473 |
) |
| Brands
and logo rights |
|
|
(4,587 |
) |
|
|
(250 |
) |
|
|
- |
|
|
|
(4,837 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Ps. |
(49,016 |
) |
|
|
(15,027 |
) |
|
|
- |
|
|
|
(64,043 |
) |
| Acquisition
cost: |
|
As
of
December 31,
2021 |
|
|
Subsidiaries’
Acquisitions |
|
|
Additions |
|
|
Disposals |
|
|
Foreign
currency
translation |
|
|
As
of
December 31,
2022 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Brand |
|
Ps. |
253,000 |
|
|
|
840,616 |
|
|
|
9,493 |
|
|
|
- |
|
|
|
(1,003 |
) |
|
|
1,102,106 |
|
| Customer
relationships |
|
|
64,000 |
|
|
|
553,808 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
617,808 |
|
| Software |
|
|
111,340 |
|
|
|
- |
|
|
|
41,443 |
|
|
|
- |
|
|
|
- |
|
|
|
152,783 |
|
| Brands
and logo rights |
|
|
5,463 |
|
|
|
- |
|
|
|
109 |
|
|
|
- |
|
|
|
- |
|
|
|
5,572 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Ps. |
433,803 |
|
|
|
1,394,424 |
|
|
|
51,045 |
|
|
|
- |
|
|
|
(1,003 |
) |
|
|
1,878,269 |
|
| Accumulated
amortization: |
|
As
of
December 31,
2021 |
|
|
Amortization
expense |
|
|
Disposals |
|
|
Foreign
currency
translation |
|
|
As
of
December 31,
2022 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Customer
relationships |
|
Ps. |
(43,733 |
) |
|
|
(40,412 |
) |
|
|
- |
|
|
|
- |
|
|
|
(84,145 |
) |
| Software |
|
|
(15,473 |
) |
|
|
(29,686 |
) |
|
|
- |
|
|
|
- |
|
|
|
(45,159 |
) |
| Brands
and logo rights |
|
|
(4,837 |
) |
|
|
(246 |
) |
|
|
- |
|
|
|
- |
|
|
|
(5,083 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Ps. |
(64,043 |
) |
|
|
(70,344 |
) |
|
|
- |
|
|
|
- |
|
|
|
(134,387 |
) |
| Acquisition
cost: |
|
As
of
December 31,
2022 |
|
|
Additions |
|
|
Disposals |
|
|
Foreign
currency
translation |
|
|
As
of
December 31,
2023 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Brand |
|
Ps. |
1,102,106 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
1,102,106 |
|
| Customer
relationships |
|
|
617,808 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
617,808 |
|
| Software |
|
|
152,783 |
|
|
|
5,459 |
|
|
|
- |
|
|
|
- |
|
|
|
158,242 |
|
| Brands
and logo rights |
|
|
5,572 |
|
|
|
52 |
|
|
|
- |
|
|
|
- |
|
|
|
5,624 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Ps. |
1,878,269 |
|
|
|
5,511 |
|
|
|
- |
|
|
|
- |
|
|
|
1,883,780 |
|
| Accumulated
amortization: |
|
As
of
December 31,
2022 |
|
|
Amortization
expense |
|
|
Disposals |
|
|
Foreign
currency
translation |
|
|
As
of
December 31,
2023 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Customer
relationships |
|
Ps. |
(84,145 |
) |
|
|
(52,551 |
) |
|
|
- |
|
|
|
(5,450 |
) |
|
|
(142,146 |
) |
| Software |
|
|
(45,159 |
) |
|
|
(41,363 |
) |
|
|
- |
|
|
|
- |
|
|
|
(86,522 |
) |
| Brands
and logo rights |
|
|
(5,083 |
) |
|
|
(76 |
) |
|
|
- |
|
|
|
- |
|
|
|
(5,159 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Ps. |
(134,387 |
) |
|
|
(93,990 |
) |
|
|
- |
|
|
|
(5,450 |
) |
|
|
(233,827 |
) |
Brands:
|
● |
The
“Betterware” brand is an intangible asset with an indefinite useful life and a carrying amount of Ps.253,000, which is presented
in the consolidated statements of financial position. This brand was transmitted to the Group through a merger carried out on July 28,
2017, with Strevo Holding, S.A. de C.V. (a related party under common control). Strevo obtained such brand when acquiring the majority
of the Betterware’s shares in March 2015. |
|
● |
The
“JAFRA” brands are intangible assets with an indefinite useful life and a carrying amount of Ps.849,106, which is presented
in the consolidated statements of financial position. Since the business combination with the Group on the date of on April 7, 2022,
the JAFRA brands were valued at their fair value. |
Brands are not amortized. The Company
annually tests the recoverable amount of its goodwill and indefinite-lived intangible assets that amount to Ps.1,599,718 and Ps.1,102,106,
respectively, of which Ps.1,250,132 and Ps.849,106, respectively, and which are related to the generating unit of JAFRA Mexico cash.
Customer
relationships:
|
● |
The
intangible for the relationship with customers of Betterware was transferred to the Group through a merger with Strevo carried out on
July 28, 2017, this intangible asset has a useful life of ten years and are amortized using the straight-line method. |
|
● |
The
intangible for the relationship with customers of JAFRA arose from the valuation of assets acquired and liabilities assumed by business
combination dated April 7, 2022, this intangible asset has a useful life of twelve years and are amortized using the straight-line method.
The calculation comprised the revenues attributable of Jafra Mexico and the total number of consultants as of the valuation date. In
addition, future revenues, growth rate and desertion were projected. |
The
customers relationships balance of the Group are described below:
| |
|
As
of December 31: |
|
| |
|
2023 |
|
|
2022 |
|
|
2021 |
|
| |
|
|
|
|
|
|
|
|
|
| Betterware |
|
Ps. |
7,467 |
|
|
|
13,867 |
|
|
|
20,267 |
|
| JAFRA Mexico |
|
|
468,195 |
|
|
|
519,796 |
|
|
|
- |
|
| Total of
customers relationships |
|
Ps. |
475,662 |
|
|
|
533,663 |
|
|
|
20,267 |
|
Brands
and logo rights
|
● |
Betterware
has incurred expenses related to the registration trademarks and logos rights with intellectual property authorities, which have a defined
life, are amortized linearly over their estimated useful life, which ranges from 10 to 30 years. As of December 31, 2023, 2022 and 2021,
intangible assets for brands and logo rights are presented in the consolidated statement of financial position for a total of Ps.465,
Ps.489 and Ps.626, respectively. |
At
each reporting date, the Group reviews the carrying amounts of its non-financial assets to determine whether there is any indication
of impairment. If any such indication exists, then the asset’s recoverable amount is estimated. As of December 31, 2023, 2022 and
2021, the Group have been not identified indications of impairment.
In
relation to impairment of intangible assets with indefinite useful life (brand), the Group estimates the recoverable amount of the intangible
asset which is based on fair value less costs of disposal, estimated using discounted cash flows. The fair value measurement was categorized
as a Level 3 fair value based on the inputs in the valuation technique used (see note 12).
|