Investor Presentaiton
b.FT
FT for the period is calculated at the 17% rate (16.5% for 2008) on the profit determined on a cash-flow
basis. Said profit is determined by subtracting authorized deductions from total income arising from
taxable operations. The so-called flat tax credits are subtracted from the foregoing result, as established
in current legislation. As of 2010, the FT rate will be 17.5%. The effect of the rate change on temporary
differences as of December 31, 2009 has been recognized in prior periods.
In accordance with the current tax legislation, the Company is required to pay the greater of IT and FT
on an annual basis.
NOTE 15 ANALYSIS OF OTHER INCOME/EXPENSES:
Other income/expenses incurred for the years ended December 31, 2009 and 2008 were as follows:
Profit on the creation of Megamex (Note 1a.)
Profit on sales of fixed assets - Net
Net income in the creation of Herdez del Fuerte (Note 1b.)
Sale of waste materials
NOTE 17 DISCONTINUED OPERATIONS:
As a result of the steps taken by Grupher Management to streamline its operations and future economic
results, certain operations were identified that were determined, after in-depth analysis, not to generate
the results originally expected, as a result of which management decided to cancel said operations. The
operations in question are shown in the statement of income as discontinued operations. Net IT items
are shown as follows:
2009
Period
2008
Period
Ps
1,285 Ps
1,348
2,554
2,599
8,873
12,712
3,947
(3,559)
(1,105)
Ps
9,153 Ps
2,842
Closing of Veracruz plant
Closing of Ensenada plant
Closing of Mazatlán plant
Total
December 31
Income tax on discontinued item
2009
2008
Discontinued operations
Ps 149,735
26,107
10,431
5,174
191,447
Ps 212,708
2,245
10,467
225,420
The Veracruz and Ensenada plants'operations are being relocated to the San Luis Potosí plant. In addition,
the Mazatlán plant operations are being relocated to Chiapas. These reserves include asset disposals,
dismantling expenses and personnel layoff expenses.
NOTE 18 SUBSEQUENT EVENT:
39,171
14,958
12,402
22,730
788
24,290
4,584
4,291
5,472
2,168
9,382
4,155
94,592
18,094
67,893
Other income
Total other income
Allowance for doubtful accounts
Employees'Statutory Profit Sharing
Restructuring expenses
Employee benefits transition liability
Loss on the sale of fixed assets - Net
Integration expenses
Provision for assets no longer in use
Other expenses
Total expenses
Other income - Net
NOTE 16 COLLATERAL GRANTED:
Ps 96,855 Ps 157,527
At December 31, 2009 and 2008, Grupher and some of its subsidiaries granted collateral on loans
obtained by other subsidiaries and affiliates of Ps447,222 and Ps326,667, respectively, one of which is
consolidated at 50%.
On January 5, 2010, Grupher obtained a new bank loan of Ps600 million to be used to replace short-term
debt and for other corporate purposes. The loan is for a 10-year term with semiannual amortizations as
from the eighth year.
NOTE 19 NEW ACCOUNTING PRONOUNCEMENTS:
In December 2009, the CINIF issued a number of NIF and NIF interpretations (INIF), which became
effective on January 1, 2010, except for INIF 18, into effect as from December 7, 2009, and NIF B-5 and
B-9, in effect as from January 1, 2011. The NIF and INIF applicable to the Company are considered to have
no significant effect on the Company's financial information.
NIF B-5 "Financial information per segment" establishes the general standards for disclosure of financial
information per segment, and allows the user of said information to analyze the entity from the same
perspective as that of management and to present more coherent information per segment in the
financial statements. This standard is to supersede Statement B-5 "Financial information per segment", in
effect up until December 31, 2010.
NIF B-9 "Financial information at interim dates" - establishes the standards for the determination
and filing of financial information at interim dates for external use, which requires, among other
matters, filing of statements of changes in stockholders' equity and of cash flows, which were not
required under Statement B-9 "Financial information at interim dates", which is to become effective
on December 31, 2010.
47
TRUST IN OUR FUTUREView entire presentation