Cash Flow Statement

Operating Cash Flow

+70%

+188%

10Y

Currency: MXN

	Jun-2003	Sep-2003	Dec-2003	Mar-2004	Jun-2004	Sep-2004	Dec-2004	Mar-2005	Jun-2005	Sep-2005	Dec-2005	Mar-2006	Jun-2006	Sep-2006	Dec-2006	Mar-2007	Jun-2007	Sep-2007	Dec-2007	Mar-2008	Jun-2008	Sep-2008	Dec-2008	Mar-2009	Jun-2009	Sep-2009	Dec-2009	Mar-2010	Jun-2010	Sep-2010	Dec-2010	Mar-2011	Jun-2011	Sep-2011	Dec-2011	Mar-2012	Jun-2012	Sep-2012	Dec-2012	Mar-2013	Jun-2013	Sep-2013	Dec-2013	Mar-2014	Jun-2014	Sep-2014	Dec-2014	Mar-2015	Jun-2015	Sep-2015	Dec-2015	Mar-2016	Jun-2016	Sep-2016	Dec-2016	Mar-2017	Jun-2017	Sep-2017	Dec-2017	Mar-2018	Jun-2018	Sep-2018	Dec-2018	Mar-2019	Jun-2019	Sep-2019	Dec-2019	Mar-2020	Jun-2020	Sep-2020	Dec-2020	Mar-2021	Jun-2021	Sep-2021	Dec-2021	Mar-2022	Jun-2022	Sep-2022	Dec-2022	Mar-2023	Jun-2023	Sep-2023	Dec-2023	Mar-2024	Jun-2024	Sep-2024	Dec-2024	Mar-2025	Jun-2025	Sep-2025	Dec-2025
Operating Cash Flow
Net Income	168	131	234	262	261	258	154	362	365	373	380	201	239	236	500	519	485	499	190	200	239	233	155	125	123	143	229	308	290	302	370	367	389	292	256	630	605	747	631	571	605	572	302	312	399	392	300	207	120	94	370	496	268	134	160	307	673	906	496	461	376	357	769	334	320	186	750	301	532	924	948	1 661	1 779	1 526	1 458	1 726	1 581	1 677	2 010	2 496	3 528	3 412	3 806	3 664	2 196	2 311	2 051	1 876	3 558	4 226	5 113
Depreciation & Amortization	103	68	(50)	63	63	63	61	63	65	66	66	73	75	79	82	87	89	89	88	91	93	98	99	104	111	125	147	158	169	174	171	166	166	159	197	153	148	142	161	169	181	199	196	204	211	220	234	247	259	270	272	279	289	304	324	343	363	366	349	330	306	293	349	340	376	417	483	483	482	476	520	532	547	566	509	531	550	573	722	736	737	727	679	714	769	847	853	915	972	1 006	1 058
Change in Deffered Taxes	0	0	(51)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Non-Cash Items	33	1	20	(27)	(30)	(7)	99	(211)	(202)	(212)	(215)	(29)	(34)	(23)	(197)	(208)	(213)	(214)	97	92	93	91	34	33	42	32	59	61	37	17	(287)	(273)	(214)	(237)	111	(384)	(422)	(317)	(192)	(6)	(40)	(106)	203	194	214	222	121	219	316	255	291	142	422	738	475	413	68	(128)	300	615	605	645	273	565	691	877	(67)	608	218	(114)	428	(384)	(1 048)	(736)	263	160	1 273	1 207	(129)	(526)	(1 402)	(1 104)	(996)	(110)	1 523	1 640	852	1 137	(458)	(1 055)	(1 403)
Cash Taxes Paid	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	2	2	32	32	30	8	8	8	11	18	18	18	17	0	0	0	0	0	0	0	0	(18)	0	0	0	0	1	2	2	1	2	1	1	0	0	1	0	1	0	(1)	0	3	0	0	0	3	0	0	0	35	0	0	0	34	0	0	0	39	0	0	0	73	0	0	0	43	0	0	0	0
Cash Interest Paid	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	13	25	38	39	44	49	2	46	38	34	78	34	42	51	64	87	88	80	63	116	127	150	184	115	137	127	104	146	118	69	0	38	53	59	75	58	46	89	109	133	159	202	264	273	358	381	378	381	385	409	431	451	453	445	447	419	438	453	458	422	399	416	410	483	526	534	603	669	743	811	850	900
Change in Working Capital	(105)	(18)	(51)	(165)	(157)	(210)	(194)	(97)	(33)	(70)	(43)	(6)	(67)	10	(168)	(122)	(126)	(228)	(110)	(221)	(229)	(156)	(15)	49	80	150	105	97	92	67	(375)	(67)	148	69	68	(139)	(444)	(322)	(537)	(747)	(541)	(701)	630	740	423	743	(304)	(269)	(266)	(288)	(63)	(360)	(202)	(530)	(222)	246	385	599	237	(121)	(547)	(552)	(534)	(288)	386	(271)	(423)	(693)	(1 018)	(421)	(342)	(151)	(322)	681	(936)	(338)	(412)	(1 681)	33	64	967	1 142	(159)	(1 435)	(1 845)	(2 563)	(981)	(830)	(1 244)	(1 575)	(297)
Cash from Operating Activities	165 N/A	149 -10%	103 -31%	134 +30%	138 +4%	105 -24%	120 +15%	118 -2%	195 +66%	157 -19%	188 +20%	238 +27%	214 -10%	301 +41%	217 -28%	277 +27%	236 -15%	146 -38%	265 +81%	163 -39%	196 +20%	266 +36%	274 +3%	310 +13%	355 +14%	450 +27%	540 +20%	625 +16%	588 -6%	559 -5%	(120) N/A	193 N/A	488 +152%	284 -42%	632 +123%	260 -59%	(113) N/A	250 N/A	63 -75%	(14) N/A	205 N/A	(36) N/A	1 331 N/A	1 450 +9%	1 246 -14%	1 577 +27%	351 -78%	403 +15%	429 +6%	331 -23%	870 +163%	557 -36%	778 +40%	646 -17%	736 +14%	1 309 +78%	1 488 +14%	1 743 +17%	1 382 -21%	1 285 -7%	740 -42%	744 +0%	858 +15%	951 +11%	1 772 +86%	1 210 -32%	744 -39%	698 -6%	215 -69%	865 +303%	1 554 +80%	1 659 +7%	956 -42%	2 037 +113%	1 295 -36%	2 079 +61%	2 994 +44%	1 775 -41%	2 636 +48%	2 770 +5%	3 831 +38%	4 178 +9%	3 330 -20%	2 833 -15%	2 643 -7%	2 236 -15%	2 596 +16%	2 919 +12%	2 649 -9%	2 424 -8%	4 471 +84%
Investing Cash Flow
Capital Expenditures	(141)	56	(57)	(63)	(97)	(114)	(147)	(171)	(204)	(260)	(292)	(315)	(302)	(288)	(242)	(260)	(246)	(255)	(281)	(291)	(348)	(363)	(396)	(346)	(323)	(279)	(219)	(260)	(232)	(258)	(314)	(300)	(302)	(371)	(483)	(295)	0	(481)	(378)	(466)	(594)	(343)	(601)	(683)	(683)	(766)	0	(624)	(733)	(942)	(1 158)	(1 147)	(1 378)	(1 405)	(971)	(1 600)	(1 568)	(1 865)	0	(2 091)	(1 809)	(1 631)	(1 063)	(1 402)	(1 560)	(1 267)	(603)	(950)	(743)	(803)	(863)	(754)	(1 485)	(2 106)	(1 172)	(1 307)	(1 619)	(1 316)	(1 716)	(2 210)	(2 182)	(2 403)	(2 549)	(2 186)	(1 946)	(2 848)	(2 971)	(3 427)	(4 012)	(3 584)	(5 672)
Other Items	(175)	(150)	18	19	15	16	5	9	15	14	13	11	8	7	(25)	(28)	(27)	(27)	(35)	(31)	(38)	(38)	(3)	(48)	(28)	(8)	(8)	1	(16)	(35)	11	29	(24)	2	65	(30)	(1)	(40)	(78)	(150)	(350)	598	(133)	24	144	(1 076)	(111)	(151)	(1)	12	37	219	72	279	(460)	(81)	(4)	832	(2 986)	963	1 025	44	(598)	(124)	(163)	25	(567)	(370)	(296)	(181)	(349)	(486)	(726)	(565)	(2 151)	(2 080)	(1 932)	(2 259)	(1 772)	(1 696)	(1 755)	(1 754)	(1 965)	(2 245)	(2 295)	(2 370)	(1 805)	(1 598)	(1 536)	(1 403)	(281)
Cash from Investing Activities	(316) N/A	(94) +70%	(39) +59%	(45) -15%	(82) -84%	(98) -20%	(142) -45%	(162) -14%	(188) -16%	(246) -31%	(280) -14%	(304) -9%	(294) +3%	(281) +4%	(267) +5%	(289) -8%	(274) +5%	(282) -3%	(315) -12%	(321) -2%	(385) -20%	(400) -4%	(400) +0%	(394) +1%	(351) +11%	(287) +18%	(227) +21%	(259) -14%	(248) +4%	(293) -18%	(303) -3%	(271) +11%	(327) -20%	(369) -13%	(418) -13%	(325) +22%	(151) +53%	(430) -184%	(456) -6%	(524) -15%	(945) -80%	255 N/A	(734) N/A	(659) +10%	(539) +18%	(1 842) -242%	(729) +60%	(775) -6%	(734) +5%	(931) -27%	(1 121) -21%	(928) +17%	(1 306) -41%	(1 127) +14%	(1 431) -27%	(1 680) -17%	(1 572) +6%	(1 033) +34%	(2 986) -189%	(1 128) +62%	(784) +30%	(1 587) -102%	(1 661) -5%	(1 526) +8%	(1 723) -13%	(1 242) +28%	(1 170) +6%	(1 320) -13%	(1 040) +21%	(983) +5%	(1 212) -23%	(1 241) -2%	(2 211) -78%	(2 672) -21%	(3 323) -24%	(3 387) -2%	(3 551) -5%	(3 574) -1%	(3 488) +2%	(3 906) -12%	(3 938) -1%	(4 157) -6%	(4 514) -9%	(4 431) +2%	(4 241) +4%	(5 218) -23%	(4 776) +8%	(5 026) -5%	(5 548) -10%	(4 987) +10%	(5 953) -19%
Financing Cash Flow
Net Issuance of Common Stock	3	(5)	(5)	(16)	(12)	(14)	5	0	7	7	(16)	(20)	(28)	(27)	(25)	(26)	(15)	(14)	(42)	(11)	8	7	(1)	21	8	9	0	(30)	62	45	(64)	(56)	(201)	(159)	(57)	(45)	(33)	(56)	(52)	(44)	(64)	(68)	(39)	(80)	(30)	(37)	(70)	(29)	(33)	(40)	(32)	0	0	(5)	(17)	15	0	25	(12)	(34)	(37)	(3)	(45)	36	0	(0)	(3)	(9)	(12)	(12)	(36)	(31)	752	(350)	(317)	(321)	(1 100)	2	(85)	(81)	(81)	(82)	8	0	0	9	(153)	0	(208)	(334)	(180)
Net Issuance of Debt	101	(49)	(65)	(60)	(21)	16	38	34	4	68	132	106	111	53	68	69	111	182	138	228	230	184	232	122	81	40	(278)	(196)	(1)	(268)	521	159	(210)	628	421	384	672	(47)	144	609	685	281	(80)	(247)	(399)	457	1 088	1 078	975	1 230	131	257	366	201	867	868	765	851	63	436	488	537	1 405	1 355	517	601	1 161	518	1 523	868	886	661	1 527	2 066	2 838	2 895	2 149	2 367	1 152	1 692	1 471	746	2 348	2 697	2 270	4 335	2 934	2 792	4 105	3 561	3 399
Cash Paid for Dividends	(6)	(6)	(5)	0	(9)	(9)	(8)	(18)	(8)	(10)	(8)	1	(0)	(18)	(19)	0	(58)	(37)	(38)	(38)	(22)	(23)	0	(22)	0	(45)	0	0	(91)	(46)	0	0	0	0	0	0	0	0	0	0	(60)	0	(160)	0	(160)	0	0	0	0	0	0	0	0	0	0	0	(110)	(110)	(110)	(110)	(139)	(170)	(70)	(239)	(247)	(256)	(111)	(114)	(7)	(9)	0	8	20	(124)	(150)	(166)	(231)	(45)	0	(4)	(261)	(317)	(300)	(316)	(137)	(151)	(100)	(104)	(8)	61	(296)
Other	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	28	(13)	(15)	(28)	(39)	(44)	(58)	(12)	(47)	(40)	(34)	(79)	(34)	(50)	(35)	(64)	(87)	(115)	(247)	(79)	(116)	(147)	29	(207)	(115)	(158)	(154)	(64)	(146)	(78)	(102)	(92)	(94)	(78)	(172)	(172)	(108)	(145)	(13)	(175)	1 388	(121)	(258)	(188)	(377)	(354)	(377)	(374)	(501)	(505)	(529)	(551)	(1 013)	(1 015)	(1 007)	(1 009)	(145)	(164)	(179)	(183)	(533)	(510)	(526)	(520)	(275)	(318)	(326)	(395)	(872)	(945)	(1 014)	(1 052)	(900)
Cash from Financing Activities	98 N/A	(60) N/A	(76) -27%	(82) -8%	(41) +50%	(6) +85%	34 N/A	32 -8%	3 -89%	65 +1 821%	108 +65%	87 -19%	83 -5%	8 -91%	24 +204%	23 -2%	38 +63%	132 +246%	86 -35%	166 +93%	201 +21%	140 -30%	191 +36%	78 -60%	30 -61%	(9) N/A	(325) -3 726%	(266) +18%	(64) +76%	(348) -441%	423 N/A	54 -87%	(355) N/A	497 N/A	277 -44%	223 -19%	392 +75%	(183) N/A	(24) +87%	417 N/A	589 +41%	5 -99%	(394) N/A	(645) -64%	(682) -6%	196 N/A	872 +345%	971 +11%	840 -13%	1 099 +31%	5 -100%	147 +2 973%	176 +19%	24 -86%	742 +2 980%	738 -1%	657 -11%	591 -10%	1 329 +125%	172 -87%	54 -68%	136 +150%	914 +573%	752 -18%	(112) N/A	(32) +71%	546 N/A	(111) N/A	975 N/A	296 -70%	(163) N/A	(376) -131%	1 293 N/A	583 -55%	2 225 +282%	2 244 +1%	638 -72%	2 140 +235%	534 -75%	1 098 +106%	603 -45%	(173) N/A	1 781 N/A	2 071 +16%	1 814 -12%	3 799 +109%	1 809 -52%	1 589 -12%	2 875 +81%	2 236 -22%	2 023 -10%
Change in Cash
Effect of Foreign Exchange Rates	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	(0)	(1)	(2)	0	(1)	(1)	0	0	(0)	1	(1)	0	(1)	(3)	5	0	24	25	25	0	1	3	(2)	0	4	2	1	0	(17)	(2)	(73)	0	(76)	(109)	(65)	0	(15)	(52)	(26)	0	(64)	(8)	(7)	0	0	1	(1)	0	(0)	1	4	0	4	3	3	0	3	3	4	0	4	4	2	2	2	1	2	2	(1)	(4)	(4)	(2)
Net Change in Cash	(53) N/A	(5) +90%	(12) -135%	7 N/A	15 +105%	0 -97%	13 +3 075%	(13) N/A	10 N/A	(24) N/A	17 N/A	21 +27%	3 -88%	28 +969%	(26) N/A	11 N/A	1 -96%	(4) N/A	35 N/A	7 -80%	11 +51%	4 -62%	66 +1 500%	(7) N/A	34 N/A	155 +361%	(11) N/A	100 N/A	277 +178%	(82) N/A	(1) +99%	(25) -3 443%	(196) -692%	416 N/A	491 +18%	182 -63%	153 -16%	(337) N/A	(416) -23%	(119) +71%	(148) -24%	223 N/A	203 -9%	150 -26%	26 -82%	(69) N/A	493 N/A	581 +18%	532 -8%	427 -20%	(246) N/A	(300) -22%	(462) -54%	(521) -13%	47 N/A	351 +641%	521 +48%	1 275 +145%	(275) N/A	265 N/A	3 -99%	(714) N/A	110 N/A	178 +61%	(62) N/A	(65) -5%	119 N/A	(733) N/A	151 N/A	182 +21%	179 -2%	46 -74%	41 -11%	(49) N/A	197 N/A	939 +377%	84 -91%	345 +308%	(318) N/A	(34) +89%	500 N/A	(151) N/A	598 N/A	476 -21%	218 -54%	819 +277%	(370) N/A	(518) -40%	(28) +95%	(332) -1 071%	539 N/A
Free Cash Flow
Free Cash Flow	24 N/A	204 +741%	45 -78%	70 +55%	41 -42%	(9) N/A	(27) -186%	(54) -100%	(9) +84%	(103) -1 107%	(104) -1%	(77) +26%	(88) -14%	13 N/A	(25) N/A	16 N/A	(10) N/A	(109) -977%	(16) +85%	(128) -702%	(152) -18%	(97) +36%	(123) -27%	(36) +71%	32 N/A	171 +427%	321 +88%	365 +14%	356 -2%	301 -15%	(435) N/A	(107) +75%	185 N/A	(87) N/A	149 N/A	(36) N/A	(113) -219%	(231) -104%	(315) -36%	(480) -52%	(390) +19%	(379) +3%	730 N/A	767 +5%	563 -27%	811 +44%	351 -57%	(221) N/A	(305) -38%	(611) -101%	(288) +53%	(591) -105%	(601) -2%	(759) -26%	(235) +69%	(291) -24%	(80) +73%	(122) -53%	1 382 N/A	(806) N/A	(1 069) -33%	(887) +17%	(206) +77%	(451) -119%	212 N/A	(57) N/A	141 N/A	(251) N/A	(529) -110%	62 N/A	691 +1 009%	904 +31%	(529) N/A	(69) +87%	123 N/A	772 +530%	1 375 +78%	460 -67%	920 +100%	560 -39%	1 649 +194%	1 774 +8%	781 -56%	647 -17%	697 +8%	(612) N/A	(376) +39%	(508) -35%	(1 363) -168%	(1 161) +15%	(1 201) -3%

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Cash Flow Statement

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Cash Flow Statement

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Cash Flow Statement
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