Investor Presentaiton
The Company had the following transactions with related parties during the years ended
December 31, 2013 and 2012:
11. OTHER ACCOUNTS PAYABLE:
An analysis of other accounts payable at December 31, 2013 and 2012, is as follows:
December 31,
December 31,
2013
2012
December 31,
2013
December 31,
2012
Import of merchandise
for sale:
Accrued liabilities and others Ps.
Walmart Bank
8,830,905 Ps.
9,101,897
C.M.A. U.S.A., L.L.C.
traditional deposits
(affiliate)
Ps.
3,131,719 Ps.
3,138,902
Provisions
4,807,951
606,153
4,249,943
597,918
Global George, LTD. (affiliate)
47,003
17,072
Finance lease
Ps.
3,178,722 Ps.
3,155,974
(Note 12)
Related parties
723,059
476,019
Technical assistance,
services and royalties:
Wal-Mart Stores, Inc.
(holding company)
Ps.
2,164,810 Ps.
2,146,203
c) Remuneration of principal officers
An analysis of remuneration to the Company's principal officers for the years ended
December 31, 2013 and 2012 is as follows:
December 31,
2013
December 31,
2012
Short-term benefits
Termination benefits
Ps.
Share-based payments
754,508
83,303
93,951
Ps.
695,027
64,477
53,906
Ps.
931,762 Ps.
813,410
(Note 10)
Contingent liability
(Note 12)
Dividends
Ps.
413,092
377,254
127,674
40,639
15,549,473 Ps.
131,685
34,649
14,969,365
At December 31, 2013, the Company has commitments totaling Ps. 10,150,325
(Ps. 9,003,254 in 2012) for the acquisition of inventories, property and equipment, as well
as for maintenance services.
12.- OTHER LONG-TERM LIABILITIES:
At December 31, 2013 and 2012, the other long-term liabilities line includes the Company's
obligations beyond one year under its finance leases and contingent liability, as described below:
a) Leases:
In order to determine if the suppliers transfer the right to use an asset, WALMEX
analyses the provision of services agreement that do not have the legal form of a
lease but that involve the use of an asset. WALMEX does not have a provision of
services agreement that must be classified as a lease, in conformity with IFRIC 4,
Determining Whether an Arrangement Contains a Lease.
The Company has entered into operating leases with third parties. Rental expense
under these leases is recognized on a straight-line basis over the term of the lease
agreements considering as the commencement date of the lease the occupancy date
of the leased property and including the lessee's rights to renewal.
The Company has entered into property lease agreements that qualify as finance
leases. These agreements are recorded at the lower of either the present value of future
minimum lease payments or at the market value of the property, and they are amortized
over the term of the lease agreements, which includes the lessee's rights to renewal.
2013 Financial and
Social Responsibility Report
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