| Non-controlling Interests |
19. | Non-controlling Interests |
Non-controlling interests as of December 31, 2024 and 2023, consisted of: | | | | | | | | | 2024 | | 2023 | Capital stock | | Ps. | 771,485 | | Ps. | 1,092,623 | Additional paid-in capital | | | 2,952,806 | | | 2,970,693 | Legal reserve | | | 149,970 | | | 214,198 | Retained earnings from prior years (1) | | | 5,449,774 | | | 11,402,282 | Net (loss) income for the year | | | (62,860) | | | (384,522) | Accumulated other comprehensive income (loss): | | | | | | | Cumulative result from foreign currency translation | | | — | | | 108,629 | Remeasurement of post-employment benefit obligations on defined benefit plans | | | (19,606) | | | (11,839) | | | Ps. | 9,241,569 | | Ps. | 15,392,064 |
| (1) | In the years ended December 31, 2024 and 2023, the Group did not pay dividends to its non-controlling interests. |
In June 2024, the Group concluded an agreement for the acquisition of an interest in Sky previously held by AT&T as a non - controlling interest and became owner of 100% of the equity of Sky. As a result of this transaction, the Group (i) reduced its non-controlling interests in consolidated equity; (ii) increased its consolidated retained earnings attributable to stockholders of the Company in the amount of Ps.4,301,921, which resulted primarily from the excess of the amount of the non-controlling interest acquired measured in accordance with IFRS over the fair value of the liability assumed by the Group; and (iii) accounted for the transaction price to be paid in 2027 and 2028, as part of other long-term liabilities in the Group’s consolidated statement of financial position as of December 31, 2024 (see Note 3). Amounts of consolidated current assets, non-current assets, current liabilities and non-current liabilities of Empresas Cablevisión as of December 31, 2024 and 2023, and Sky as of December 31, 2023, are set forth as follows: | | | | | | | | | | | | Empresas Cablevisión (1) | | Sky (2) | | | 2024 | | 2023 | | 2023 | Assets: | | | | | | | | | | Current assets | | Ps. | 8,351,193 | | Ps. | 7,255,601 | | Ps. | 6,812,940 | Non-current assets | | | 19,935,495 | | | 21,178,757 | | | 15,638,619 | Total assets | | | 28,286,688 | | | 28,434,358 | | | 22,451,559 | | | | | | | | | | | Liabilities: | | | | | | | | | | Current liabilities | | | 7,050,863 | | | 5,047,055 | | | 3,255,555 | Non-current liabilities | | | 1,727,061 | | | 3,461,020 | | | 4,460,916 | Total liabilities | | | 8,777,924 | | | 8,508,075 | | | 7,716,471 | Net assets | | Ps. | 19,508,764 | | Ps. | 19,926,283 | | Ps. | 14,735,088 |
(1) | Company’s non-controlling interest of 48.5% and 48.8% as of December 31, 2024, and 2023, respectively. |
(2) | Company’s non-controlling interest of 41.3% as of December 31, 2023. |
Amounts of consolidated revenues, net income and comprehensive income of Empresas Cablevisión and Sky for the years ended December 31, 2024 and 2023, are set forth as follows: | | | | | | | | | | | | Empresas Cablevisión | | Sky | | | 2024 | | 2023 | | 2023 | Revenues | | Ps. | 14,628,084 | | Ps. | 15,125,879 | | Ps. | 17,585,229 | Net (loss) income | | | (93,660) | | | (882,775) | | | (61,224) | Comprehensive (loss) income | | | (110,247) | | | (878,777) | | | (175,719) |
Amounts of consolidated summarized cash flows of Empresas Cablevisión and Sky for the years ended December 31, 2024 and 2023, are set forth as follows: | | | | | | | | | | | | Empresas Cablevisión | | Sky | | | 2024 | | 2023 | | 2023 | Cash flows from operating activities | | Ps. | 5,037,835 | | Ps. | 3,205,302 | | Ps. | 4,963,930 | Cash flows used in investing activities | | | (1,696,109) | | | (2,824,154) | | | (2,589,738) | Cash flows used in financing activities | | | (1,575,575) | | | (543,845) | | | (2,104,214) | Net increase (decrease) in cash and cash equivalents | | Ps. | 1,766,151 | | Ps. | (162,697) | | Ps. | 269,978 |
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