v3.26.1
Consolidated Statements of Cash Flows
$ in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2025
USD ($)
Dec. 31, 2025
MXN ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2024
MXN ($)
Dec. 31, 2023
MXN ($)
Operating activities:          
Net (loss) income $ (4,545,376) $ (81,665,432)   $ (780,587,954) $ 8,151,664
Welfare oil duty 10,829,648 194,573,038   0 0
Items related to investment activities          
Income taxes and duties 39,838 715,756   290,281,198 219,999,281
Depreciation and amortization of wells, pipelines, properties, plant and equipment 8,544,622 153,518,664   146,850,208 137,555,276
Amortization of intangible assets 20,039 360,032   626,800 599,627
Impairment of wells, pipelines, properties, plant and equipment 449,579 8,077,449   53,477,580 28,797,518
Capitalized unsuccessful wells 431,180 7,746,890   13,046,124 29,529,330
Unsuccessful wells from intangible assets 810,173 14,556,138   25,944,025 4,436,985
Loss from derecognition of disposal of wells, pipelines, properties, plant and equipment 931,459 16,735,240   4,563,204 7,510,572
Depreciation of rights of use 345,760 6,212,172   6,030,194 5,886,840
Impairment of leases 107,933 1,939,194   0 0
Cancellation of leases (14,334) (257,531)   0 (128,698)
Unrealized foreign exchange loss in discount rate of reserve for well abandonment 435,072 7,816,800   9,126,600 4,638,600
(Profit) sharing in associates, net (40,090) (720,290)   (961,649) (409,315)
Items related to financing activities          
Unrealized foreign exchange (income) loss (10,891,147) (195,677,975)   279,459,341 (221,771,870)
Financing cost 8,347,700 149,980,626   158,901,950 152,171,381
Financing income (663,373) (11,918,617)   (15,669,883) (18,210,377)
Funds from operating activities 15,138,683 271,992,154   191,087,738 358,756,814
Funds from operating activities          
Profit-sharing duty and Welfare duty paid (10,002,676) (179,715,074)   (109,402,970) (234,982,338)
Derivative financial instruments (2,014,652) (36,196,645)   73,199,932 17,082,089
Customers and accounts receivable 1,987,555 35,709,802   85,725,209 (35,840,592)
Inventories (1,214,229) (21,815,693)   27,019,341 (73,915)
Accounts payable and accrued expenses (272,077) (4,888,334)   (10,873,542) 1,838,338
Suppliers (154,756) (2,780,449)   89,233,465 42,479,138
Provisions for sundry creditors 2,040,534 36,661,668   3,335,377 219,161
Employee benefits 3,552,660 63,829,581   55,098,900 60,056,484
Other taxes and duties (421,578) (7,574,369)   (81,514,888) 102,410,367
Net cash flows from operating activities 8,639,464 155,222,641   322,908,562 311,945,546
Investing activities          
Interest collected 445,843 8,010,324   7,172,267 5,422,674
Other assets (210,697) (3,785,536)   (16,553,870) 19,556,667
Acquisition of wells, pipelines, properties, plant and equipment (12,583,177) (226,078,160)   (230,138,544) (256,862,996)
Acquisition of intangible assets (747,161) (13,424,017)   (32,798,760) (35,088,002)
Net cash flows (used in) investing activities (13,095,192) (235,277,389)   (272,318,907) (266,971,657)
Financing activities:          
Increase in equity due to Certificates of Contribution “A” 22,002,549 395,313,191   156,509,050 166,615,123
Increase in long-term contractual liabilities 10,743,935 193,033,065 $ 0   0
Collections from the Mexican Government 799,217 14,359,299   28,096,861 45,849,715
Interest collected from the Mexican Government 101,259 1,819,299   4,854,744 8,052,642
Lease payments (381,332) (6,851,282)   (6,335,772) (5,484,624)
Interest of lease paid (138,143) (2,481,974)   (2,128,875) (2,291,356)
Loans obtained from financial institutions 49,601,914 891,182,703   1,056,523,887 881,401,059
Debt payments, principal only (65,066,236) (1,169,025,539)   (1,148,872,172) (978,854,627)
Interest paid (8,344,024) (149,914,573)   (148,380,958) (144,050,336)
Net cash flows from (used in) financing activities 9,319,139 167,434,189   (59,733,235) (28,762,404)
Net increase (decrease) in cash and cash equivalents 4,863,411 87,379,441   (9,143,580) 16,211,485
Effects of foreign exchange on cash balances (755,285) (13,569,978)   29,238,030 (11,878,620)
Cash and cash equivalents at the beginning of the year 4,944,805 88,841,826   68,747,376 64,414,511
Cash and cash equivalents at the end of the year (Note 9) $ 9,052,931 $ 162,651,289 $ 4,944,805 $ 88,841,826 $ 68,747,376