The following tables present information about PEMEX’s carrying amounts and fair values of financial assets and financial liabilities, including their levels in the fair value hierarchy, as of March 31, 2025 and December 31, 2024. It does not include fair value information for financial assets and financial liabilities not measured at fair value if the carrying amount is a reasonable approximation of fair value.


	Carrying amount						Fair value hierarchy
As of March 31, 2025	FVTPL	FVOCI – debt instruments	FVOCI – equity instruments	Financial assets at amortized cost	Other financial liabilities	Total carrying amount	Level 1	Level 2	Level 3	Total
Financial assets measured at fair value
Derivative financial instruments	12,953,988	—	—	—	—	12,953,988	—	12,953,988	—	12,953,988
Equity instruments (1)	—	—	962,783	—	—	962,783	—	962,783	—	962,783
Total	12,953,988	—	962,783	—	—	13,916,771
Financial assets not measured at fair value
Cash and cash equivalents	—	—	—	156,489,300	—	156,489,300	—	—	—	—
Customers	—	—	—	132,855,625	—	132,855,625	—	—	—	—
Officials and employees	—	—	—	6,306,334	—	6,306,334	—	—	—	—
Sundry debtors	—	—	—	33,212,297	—	33,212,297	—	—	—	—
Investments in associates	—	—	—	2,663,602	—	2,663,602	—	—	—	—
Notes receivable	—	—	—	1,059,789	—	1,059,789	—	—	—	—
Mexican Government Bonds	—	—	—	32,278,935	—	32,278,935	31,759,990	—	—	31,759,990
Other assets	—	—	—	9,280,168	—	9,280,168	—	—	—	—
Total	—	—	—	374,146,050	—	374,146,050
Financial liabilities measured at fair value
Derivative financial instruments	(111,575,663)	—	—	—	—	(111,575,663)	—	(111,575,663)	—	(111,575,663)
Total	(111,575,663)	—	—	—	—	(111,575,663)
Financial liabilities not measured at fair value
Suppliers	—	—	—	—	(404,407,261)	(404,407,261)	—	—	—	—
Accounts and accrued expenses payable	—	—	—	—	(80,752,543)	(80,752,543)	—	—	—	—
Leases	—	—	—	—	(46,470,590)	(46,470,590)	—	—	—	—
Debt	—	—	—	—	(2,053,452,343)	(2,053,452,343)	—	(1,860,622,572)	—	(1,860,622,572)
Total	—	—	—	—	(2,585,082,737)	(2,585,082,737)


	Carrying amount						Fair value hierarchy
As of December 31, 2024	FVTPL	FVOCI – debt instruments	FVOCI – equity instruments	Financial assets at amortized cost	Other financial liabilities	Total carrying amount	Level 1	Level 2	Level 3	Total
Financial assets measured at fair value
Derivative financial instruments	9,203,958	—	—	—	—	9,203,958	—	9,203,958	—	9,203,958
Equity instruments (1)	—	—	962,783	—	—	962,783	—	962,783	—	962,783
Total	9,203,958	—	962,783	—	—	10,166,741
Financial assets not measured at fair value
Cash and cash equivalents	—	—	—	88,841,826	—	88,841,826	—	—	—	—
Customers	—	—	—	126,733,175	—	126,733,175	—	—	—	—
Officials and employees	—	—	—	5,541,324	—	5,541,324	—	—	—	—
Sundry debtors	—	—	—	26,789,620	—	26,789,620	—	—	—	—
Investments in associates	—	—	—	2,692,938	—	2,692,938	—	—	—	—
Notes receivable	—	—	—	1,021,778	—	1,021,778	—	—	—	—
Mexican Government Bonds	—	—	—	35,875,353	—	35,875,353	35,279,002	—	—	35,279,002
Other assets	—	—	—	7,927,877	—	7,927,877	—	—	—	—
Total	—	—	—	295,423,891	—	295,423,891
Financial liabilities measured at fair value
Derivative financial instruments	(108,972,467)	—	—	—	—	(108,972,467)	—	(108,972,467)	—	(108,972,467)
Total	(108,972,467)	—	—	—	—	(108,972,467)
Financial liabilities not measured at fair value
Suppliers	—	—	—	—	(505,989,382)	(505,989,382)	—	—	—	—
Accounts and accrued expenses payable	—	—	—	—	(72,773,222)	(72,773,222)	—	—	—	—
Leases	—	—	—	—	(46,825,266)	(46,825,266)	—	—	—	—
Debt	—	—	—	—	(1,978,772,255)	(1,978,772,255)	—	(1,745,481,072)	—	(1,745,481,072)
Total	—	—	—	—	(2,604,360,125)	(2,604,360,125)