| Income from Discontinued Operations, Net |
28. | Income from Discontinued Operations, Net |
The operations of most of the Group’s former Other Businesses segment were discontinued on January 31, 2024, in connection with the Spin-off of the Company carried out on that date and the Company’s distribution of the related Spun-off Businesses to Ollamani. As a result, the Group’s consolidated statements of income for the years ended December 31, 2024 and 2023, present as income from discontinued operations, net, the results of operations of the Spun-off Businesses for the month ended January 31, 2024, and the year ended December 31, 2023 (see Notes 2 and 3). The carrying amounts of the consolidated net assets distributed to Ollamani on January 31, 2024, in connection with the Company’s Spin-off carried out on that date, were as follows: | | | | | | January 31, 2024 | ASSETS | | | | Current assets: | | | | Cash and cash equivalents | | Ps. | 696,916 | Trade accounts and notes receivable, net | | | 514,284 | Other accounts, taxes receivable and notes receivable, net | | | 925,632 | Inventories | | | 130,645 | Other current assets | | | 587,439 | Total current assets | | | 2,854,916 | Non-current assets: | | | | Property and equipment, net | | | 4,057,271 | Right-of-use assets, net | | | 982,190 | Intangible assets, net | | | 583,885 | Deferred income tax assets | | | 1,619,305 | Other assets | | | 15,466 | Total non-current assets | | | 7,258,117 | Total assets | | | 10,113,033 | | | | | LIABILITIES | | | | Current liabilities: | | | | Current portion of lease liabilities | | | 99,376 | Trade accounts payable and accrued expenses | | | 821,530 | Customer deposits and advances | | | 26,496 | Income taxes payable | | | 218,003 | Employee benefits | | | 182,394 | Other current liabilities | | | 47,320 | Total current liabilities | | | 1,395,119 | Non-currents liabilities: | | | | Lease liabilities, net of current portion | | | 1,017,781 | Post-employment benefits | | | 55,000 | Other non-current liabilities | | | 340,435 | Total non-current liabilities | | | 1,413,216 | Total liabilities | | | 2,808,335 | Total net assets | | Ps. | 7,304,698 |
The Group’s consolidated net assets of the Spun-off Businesses as of January 31, 2024, decreased the Group’s equity attributable to stockholders of the Company in the amount of Ps.7,304,698, as of that date (see Notes 17 and 18). Income from discontinued operations, net, for the month ended January 31, 2024 and the year ended December 31, 2023, is presented as follows: | | | | | | | | | 2024 | | 2023 | Net income from discontinued operations | | Ps. | 56,816 | | Ps. | 628,116 | Gain on disposition of discontinued operations, net | | | — | | | — | Income from discontinued operations, net | | Ps. | 56,816 | | Ps. | 628,116 |
Gain on disposition of discontinued operations, net, for the month ended January 31, 2024 and the year ended December 31, 2023, is presented as follows: | | | | | | | | | 2024 | | 2023 | Gain on disposition of discontinued operations before income taxes | | Ps. | 70,644 | | Ps. | 945,727 | Income taxes | | | 13,828 | | | 317,611 | Gain on disposition of discontinued operations, net | | Ps. | 56,816 | | Ps. | 628,116 |
Income from discontinued operations, net, for the month ended January 31, 2024 and the year ended December 31, 2023, is presented as follows: | | | | | | | | | | | 2024 | | 2023 | Revenues | | | Ps. | 439,479 | | Ps. | 6,183,398 | Cost of revenues and operating expenses | | | | 375,677 | | | 5,397,390 | Income before other income | | | | 63,802 | | | 786,008 | Other (expense) income, net | | | | (2,268) | | | 20,460 | Operating income | | | | 61,534 | | | 806,468 | Finance income, net | | | | 9,110 | | | 139,259 | Income before income taxes | | | | 70,644 | | | 945,727 | Income taxes | | | | (13,828) | | | (317,611) | Income from discontinued operations, net | | | Ps. | 56,816 | | Ps. | 628,116 |
Cash flows provided by (used in) discontinued operations for the month ended January 31, 2024 and the year ended December 31, 2023: | | | | | | | | | 2024 | | 2023 | Net cash (used in) provided by operating activities | | Ps. | (170,212) | | Ps. | 791,780 | Net cash provided by investing activities | | | 14,955 | | | 647,555 | Net cash used in financing activities | | | (304,418) | | | (215,965) | Net cash flows | | Ps. | (459,675) | | Ps. | 1,223,370 |
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