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Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2018
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Summary of Foreign Exchange Rates | The most significant closing exchange rates and the approximate average exchange rates for statement of financial position accounts and statement of operations accounts as of December 31, 2018, 2017 and 2016, were as follows:
|  | 2018 |  |  | 2017 |  |  | 2016 |
Currency |  | Closing |  |  | Average |  |  | Closing |  |  | Average |  |  | Closing |  |  | Average |
Dollar |  |  | 19.6500 |  |  |  | 19.2583 |  |  |  | 19.6500 |  |  |  | 18.8800 |  |  |  | 20.7200 |  |  |  | 18.7200 |
Euro |  |  | 22.5169 |  |  |  | 22.7036 |  |  |  | 23.5866 |  |  |  | 21.4122 |  |  |  | 21.7945 |  |  |  | 20.6564 |
British Pound Sterling |  |  | 25.0557 |  |  |  | 25.6059 |  |  |  | 26.5361 |  |  |  | 24.4977 |  |  |  | 25.5361 |  |  |  | 25.0731 |
Colombian Peso |  |  | 0.0060 |  |  |  | 0.0065 |  |  |  | 0.0066 |  |  |  | 0.0064 |  |  |  | 0.0069 |  |  |  | 0.0062 |
Egyptian Pound |  |  | 1.0943 |  |  |  | 1.0806 |  |  |  | 1.1082 |  |  |  | 1.0620 |  |  |  | 1.1234 |  |  |  | 1.8261 |
Philippine Peso |  |  | 0.3737 |  |  |  | 0.3655 |  |  |  | 0.3936 |  |  |  | 0.3747 |  |  |  | 0.4167 |  |  |  | 0.3927 |
Summary of Maximum Average Useful Lives of Fixed Assets | As of December 31, 2018, the average useful lives by category of fixed assets were as follows:
|  | Years
Administrative buildings |  | 32
Industrial buildings |  | 29
Machinery and equipment in plant |  | 16
Ready-mix trucks and motor vehicles |  | 8
Office equipment and other assets |  | 6
Summary of Statutory Tax Rates | For the years ended December 31, 2018, 2017 and 2016, the statutory tax rates in CEMEX’s main operations were as follows:
Country |  | 2018 |  | 2017 |  | 2016
Mexico |  | 30.0% |  | 30.0% |  | 30.0%
United States |  | 21.0% |  | 35.0% |  | 35.0%
United Kingdom |  | 19.3% |  | 19.3% |  | 20.0%
France |  | 34.4% |  | 34.4% |  | 34.4%
Germany |  | 28.2% |  | 28.2% |  | 28.2%
Spain |  | 25.0% |  | 25.0% |  | 25.0%
Philippines |  | 30.0% |  | 30.0% |  | 30.0%
Colombia |  | 37.0% |  | 40.0% |  | 40.0%
Egypt |  | 22.5% |  | 22.5% |  | 22.5%
Others |  | 7.8% – 39.0% |  | 7.8% – 39.0% |  | 7.8% – 39.0%
Summary of Estimated Range of Opening Statement of Financial Position Effects | Upon adoption of IFRS 16 beginning on January 1, 2019, CEMEX has estimated a range for its opening statement of financial position effects as of January 1, 2017, as follows:
|  |  |  |  | As of January 1, 2017 |
|  |  |  |  | Low |  |  | High |
Assets for the right-of-use |  | US$ |  |  |  |  | 920 |  |  |  | 942 |
Financial liabilities |  |  |  |  |  |  | (1,030 | ) |  |  | (1,060 | )
Retained earnings1 |  | US$ |  |  |  |  | (110 | ) |  |  | (118 | )
1 | The effect refers to a timing difference between depreciation expense of the assets calculated under the straight-line method and the interest expense from the liability determined under the effective interest rate method since the beginning of the contracts. This difference will reverse over the remaining life of the contracts.

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