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Business Combinations, Discontinued Operations, Sale of Other Disposal Groups and Selected Financial Information by Reportable Segment and Line of Business | 12 Months Ended
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Dec. 31, 2020
Text block [abstract] |
Business Combinations, Discontinued Operations, Sale of Other Disposal Groups and Selected Financial Information by Reportable Segment and Line of Business |
5) | BUSINESS COMBINATIONS, DISCONTINUED OPERATIONS, SALE OF OTHER DISPOSAL GROUPS AND SELECTED FINANCIAL INFORMATION BY REPORTABLE SEGMENT AND LINE OF BUSINESS
5.1) | BUSINESS COMBINATIONS
In January 2020 and April 2020 a subsidiary of CEMEX in Israel acquired a ready-mix business from Netivei Noy for an amount in shekels equivalent to $33. As of December 31, 2020, based on the preliminary valuation of the fair values of the assets acquired and liabilities assumed, the net assets of Netivei Noy amounted to $33 and goodwill was determined in the amount of $2. In August 2018, a subsidiary of CEMEX in the United Kingdom acquired all the shares of the ready-mix producer Procon Readymix Ltd for an amount in pounds sterling equivalent to $22. The net assets of Procon amounted to $10 and goodwill was determined in the amount of $12.
5.2) | DISCONTINUED OPERATIONS
On August 3, 2020, through a subsidiary in the United Kingdom, CEMEX concluded the sale to Breedon Group plc of certain assets for an amount in Pounds equivalent to $230, including $30 of debt. The assets sold consisted of 49 ready-mix plants, 28 aggregate quarries, four depots, one cement terminal, 14 asphalt plants, four concrete products operations, as well as a portion of CEMEX’s paving solutions business in the United Kingdom. CEMEX retained significant operations in the United Kingdom related with the production and sale of cement, ready-mix concrete, aggregates, asphalt and paving solutions. As of December 31, 2019, the assets and liabilities associated with this segment under negotiation in the United Kingdom were presented in the statement of financial position within the line items of “Assets held for sale,” including a proportional allocation of goodwill of $47, and “Liabilities directly related to assets held for sale,” respectively. Moreover, for purposes of the statements of operations for the period from January 1 to August 3, 2020, including in 2020 a loss on sale of $57 net of the proportional allocation of goodwill mentioned above, and the years ended December 31, 2019 and 2018 the operations related to this segment are presented net of tax in the single line item “Discontinued operations.” On March 6, 2020, CEMEX concluded the sale to Eagle Materials Inc. of its U.S. subsidiary Kosmos Cement Company (“Kosmos”), a partnership with a subsidiary of Buzzi Unicem S.p.A. in which CEMEX held a 75% interest, for a total consideration of $665, of which the proceeds to CEMEX were $499. The assets sold consisted of Kosmos’ cement plant in Louisville, Kentucky, as well as related assets which include seven distribution terminals and raw material reserves. As of December 31, 2019, the assets and liabilities associated with this sale in the United States were presented in the statement of financial position within the line items of “assets held for sale,” including a proportional allocation of goodwill of $291, and “liabilities directly related to assets held for sale,” respectively. Moreover, CEMEX’s statements of operations present the operations related to this segment from January 1 to March 6, 2020, including in 2020 a gain on sale of $14 net of the proportional allocation of goodwill mentioned above, and for the years ended December 31, 2019 and 2018, respectively, net of income tax in the single line item “Discontinued operations.” On June 28, 2019, after obtaining customary authorizations, CEMEX concluded with several counterparties the sale of its ready-mix and aggregates business in the central region of France for an aggregate price in euro equivalent to $36. CEMEX’s operations of these disposed assets in France for the period from January 1 to June 28, 2019 and for the year ended December 31, 2018 are reported in the statements of operations, net of income tax, in the single line item “Discontinued operations,” including in 2019 a gain on sale of $17 net of a proportional allocation of goodwill related to this reporting segment of $8. On May 31, 2019, CEMEX concluded the sale of its aggregates and ready-mix assets in the North and North-West regions of Germany to GP Günter Papenburg AG for a price in euro equivalent to $97. The assets divested in Germany consisted of four aggregates quarries and four ready-mix facilities in North Germany, and nine aggregates quarries and 14 ready-mix facilities in North-West Germany. CEMEX’s operations of these disposed assets for the period from January 1 to May 31, 2019 and for the year ended December 31, 2018 are reported in the statements of operations, net of income tax, in the single line item “Discontinued operations,” including in 2019 a gain on sale of $59. On March 29, 2019, CEMEX closed the sale of assets in the Baltics and Nordics to the German building materials group Schwenk for a price in euro equivalent to $387. The Baltic assets divested consisted of one cement production plant in Broceni with a production capacity of approximately 1.7 million tons, four aggregates quarries, two cement quarries, six ready-mix plants, one marine terminal and one land distribution terminal in Latvia. The assets divested also included CEMEX’s 37.8% non-controlling interest in Akmenes Cementas AB owner of a cement production plant in Akmene in Lithuania with a production capacity of approximately 1.8 million tons, as well as the exports business to Estonia. The Nordic assets divested consisted of three import terminals in Finland, four import terminals in Norway and four import terminals in Sweden. CEMEX’s operations of these disposed assets for the period from January 1 to March 29, 2019 and for the year ended December 31, 2018 are reported in the statements of operations, net of income tax, in the single line item “Discontinued operations,” including in 2019 a gain on sale of $66. On March 29, 2019, CEMEX signed a binding agreement with Çimsa Çimento Sanayi Ve Ticaret A.Ş. to divest CEMEX’s white cement business, except for Mexico and the U.S., for an initial price of $180 subject to adjustments, including its Buñol cement plant in Spain and its white cement customer list. The transaction is pending for approval from regulators. CEMEX currently expects it could close this divestment during the first quarter of 2021. As of December 31, 2020, and 2019 the assets and liabilities associated with the white cement business were presented in the Statement of Financial Position within the line items of “Assets and liabilities directly related to assets held for sale”, as correspond. CEMEX’s operations of these assets in Spain for the years ended December 31, 2020, 2019 and 2018 are reported in the statements of operations, net of income tax, in the single line item “Discontinued operations.” On September 27, 2018, CEMEX concluded the sale of its construction materials operations in Brazil (the “Brazilian Operations”) through the sale to Votorantim Cimentos N/NE S.A. of all the shares of CEMEX’s Brazilian subsidiary Cimento Vencemos Do Amazonas Ltda, consisting of a fluvial cement distribution terminal located in Manaus, Amazonas province, as well as the operation license for a price of $31. CEMEX’s Brazilian Operations for the period from January 1 to September 27, 2018 are reported in the statements of operations, net of income tax, in the single line item “Discontinued operations” net of a gain on sale of $12. As of December 31, 2020, the following table presents condensed combined information of the statement of financial position for the assets held for sale in Spain, as mentioned above:
|  |  |  |  | 2020 |
Current assets |  | $ |  |  |  |  | 4 |
Non-current assets |  |  |  |  |  |  | 103 |
Total assets of the disposal group |  |  |  |  |  |  | 107 |
Current liabilities |  |  |  |  |  |  | — |
Non-current liabilities |  |  |  |  |  |  | — |
Total liabilities directly related to disposal group |  |  |  |  |  |  | — |
Total net assets of disposal group |  | $ |  |  |  |  | 107 |
In addition, the following table presents condensed combined information of the statements of operations of CEMEX’s discontinued operations previously mentioned in: a) the United Kingdom for the period from January 1 to August 3, 2020 and for the years ended December 31, 2019 and 2018; b) the United States related to Kosmos for the period from January 1 to March 6, 2020 and for the years ended December 31, 2019 and 2018; c) France for the period from January 1 to June 28, 2019 and for the year ended December 31, 2018; d) Germany for the period from January 1 to May 31, 2019 and for the year ended December 31, 2018; e) the Baltics and Nordics for the period from January 1 to March 29, 2019 and for the year ended December 31, 2018; f) Spain for the years ended December 31, 2020, 2019 and 2018; and g) Brazil for the period from January 1 to September 27, 2018:
|  |  |  |  | 2020 |  |  | 2019 |  |  | 2018 |
Revenues |  | $ |  |  |  |  | 189 |  |  |  | 572 |  |  |  | 868 |
Cost of sales and operating expenses |  |  |  |  |  |  | (184 | ) |  |  | (534 | ) |  |  | (792 | )
Other income (expenses), net |  |  |  |  |  |  | (5 | ) |  |  | 1 |  |  |  | (1 | )
Financial expenses, net and others |  |  |  |  |  |  | — |  |  |  | — |  |  |  | (2 | )
Earnings before income tax |  |  |  |  |  |  | — |  |  |  | 39 |  |  |  | 73 |
Income tax |  |  |  |  |  |  | (75 | ) |  |  | (6 | ) |  |  | (7 | )
Result of discontinued operations |  |  |  |  |  |  | (75 | ) |  |  | 33 |  |  |  | 66 |
Net disposal result |  |  |  |  |  |  | (45 | ) |  |  | 55 |  |  |  | 11 |
Net result of discontinued operations |  | $ |  |  |  |  | (120 | ) |  |  | 88 |  |  |  | 77 |
5.3) | SELECTED FINANCIAL INFORMATION BY REPORTABLE SEGMENT AND LINE OF BUSINESS
Reportable segments represent the components of CEMEX that engage in business activities from which CEMEX may earn revenues and incur expenses, whose operating results are regularly reviewed by the entity’s top management to make decisions about resources to be allocated to the segments and assess their performance, and for which discrete financial information is available. CEMEX operates geographically and by business on a regional basis. Beginning April 1, 2020 and for subsequent periods, the geographical regions Europe and Asia, Middle East and Africa (“AMEA”) were merged and reorganized under a single regional president and was denominated Europe, Middle East, Africa and Asia (“EMEAA”). For the reported periods, the Company’s operations were organized in four geographical regions, each under the supervision of a regional president, as follows: 1) Mexico, 2) United States, 3) EMEAA and 4) South, Central America and the Caribbean (“SCA&C”). The accounting policies applied to determine the financial information by reportable segment are consistent with those described in note 3. Considering similar regional and economic characteristics and/or materiality, certain countries have been aggregated and presented as single line items as follows: a) “Rest of EMEAA” refers mainly to CEMEX’s operations and activities in Poland, the Czech Republic, Croatia, Egypt and the United Arab Emirates; b) “Rest of SCA&C” refers mainly to CEMEX’s operations and activities in Costa Rica, Puerto Rico, Nicaragua, Jamaica, the Caribbean, Guatemala and El Salvador, excluding the operations of Trinidad Cement Limited (“TCL”); and c) “Caribbean TCL” refers to TCL’s operations mainly in Trinidad and Tobago, Jamaica, Guyana and Barbados. The segment “Others” refers to: 1) cement trade maritime operations, 2) Neoris N.V., CEMEX’s subsidiary involved in the business of information technology solutions, 3) the Parent Company, other corporate entities and finance subsidiaries, and 4) other minor subsidiaries with different lines of business. Selected information of the consolidated statements of operations by reportable segment for the years 2020, 2019 and 2018, excluding the share of profits of equity accounted investees by reportable segment that is included in the note 14.1, was as follows:
2020 |  |  |  |  | Revenues (including intragroup transactions) |  |  | Less: Intragroup transactions |  |  | Revenues |  |  | Operating EBITDA |  |  | Less: Depreciation and amortization |  |  | Operating earnings before other expenses, net |  |  | Other expenses, net |  |  | Financial expense |  |  | Other financing items, net |
Mexico |  | $ |  |  |  |  | 2,812 |  |  |  | (134 | ) |  |  | 2,678 |  |  |  | 931 |  |  |  | 148 |  |  |  | 783 |  |  |  | (46 | ) |  |  | (31 | ) |  |  | (4 | )
United States |  |  |  |  |  |  | 3,994 |  |  |  | (1 | ) |  |  | 3,993 |  |  |  | 747 |  |  |  | 440 |  |  |  | 307 |  |  |  | (1,350 | ) |  |  | (53 | ) |  |  | (20 | )
EMEAA |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United Kingdom |  |  |  |  |  |  | 739 |  |  |  | — |  |  |  | 739 |  |  |  | 88 |  |  |  | 67 |  |  |  | 21 |  |  |  | (73 | ) |  |  | (9 | ) |  |  | (77 | )
France |  |  |  |  |  |  | 795 |  |  |  | — |  |  |  | 795 |  |  |  | 76 |  |  |  | 49 |  |  |  | 27 |  |  |  | (1 | ) |  |  | (12 | ) |  |  | 3 |
Germany |  |  |  |  |  |  | 489 |  |  |  | (37 | ) |  |  | 452 |  |  |  | 67 |  |  |  | 28 |  |  |  | 39 |  |  |  | (3 | ) |  |  | (2 | ) |  |  | (3 | )
Spain |  |  |  |  |  |  | 319 |  |  |  | (16 | ) |  |  | 303 |  |  |  | 25 |  |  |  | 39 |  |  |  | (14 | ) |  |  | (195 | ) |  |  | (3 | ) |  |  | (9 | )
Philippines 1 |  |  |  |  |  |  | 398 |  |  |  | — |  |  |  | 398 |  |  |  | 118 |  |  |  | 46 |  |  |  | 72 |  |  |  | (1 | ) |  |  | 2 |  |  |  | 2 |
Israel |  |  |  |  |  |  | 754 |  |  |  | — |  |  |  | 754 |  |  |  | 115 |  |  |  | 28 |  |  |  | 87 |  |  |  | — |  |  |  | (4 | ) |  |  | 1 |
Rest of EMEAA |  |  |  |  |  |  | 959 |  |  |  | (16 | ) |  |  | 943 |  |  |  | 149 |  |  |  | 81 |  |  |  | 68 |  |  |  | (27 | ) |  |  | (5 | ) |  |  | (22 | )
SCA&C |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Colombia 2 |  |  |  |  |  |  | 404 |  |  |  | — |  |  |  | 404 |  |  |  | 86 |  |  |  | 25 |  |  |  | 61 |  |  |  | (14 | ) |  |  | (5 | ) |  |  | (13 | )
Panama 2 |  |  |  |  |  |  | 80 |  |  |  | (7 | ) |  |  | 73 |  |  |  | 12 |  |  |  | 16 |  |  |  | (4 | ) |  |  | (19 | ) |  |  | (1 | ) |  |  | 1 |
Caribbean TCL 3 |  |  |  |  |  |  | 251 |  |  |  | (7 | ) |  |  | 244 |  |  |  | 65 |  |  |  | 22 |  |  |  | 43 |  |  |  | (9 | ) |  |  | (6 | ) |  |  | (8 | )
Dominican Republic |  |  |  |  |  |  | 229 |  |  |  | (11 | ) |  |  | 218 |  |  |  | 84 |  |  |  | 8 |  |  |  | 76 |  |  |  | (5 | ) |  |  | (1 | ) |  |  | 4 |
Rest of SCA&C 2 |  |  |  |  |  |  | 508 |  |  |  | (17 | ) |  |  | 491 |  |  |  | 124 |  |  |  | 19 |  |  |  | 105 |  |  |  | (41 | ) |  |  | (2 | ) |  |  | 15 |
Others |  |  |  |  |  |  | 957 |  |  |  | (472 | ) |  |  | 485 |  |  |  | (227 | ) |  |  | 101 |  |  |  | (328 | ) |  |  | 5 |  |  |  | (645 | ) |  |  | 20 |
Continuing operations |  |  |  |  |  |  | 13,688 |  |  |  | (718 | ) |  |  | 12,970 |  |  |  | 2,460 |  |  |  | 1,117 |  |  |  | 1,343 |  |  |  | (1,779 | ) |  |  | (777 | ) |  |  | (110 | )
Discontinued operations |  |  |  |  |  |  | 189 |  |  |  | — |  |  |  | 189 |  |  |  | 14 |  |  |  | 9 |  |  |  | 5 |  |  |  | (5 | ) |  |  | — |  |  |  | — |
Total |  | $ |  |  |  |  | 13,877 |  |  |  | (718 | ) |  |  | 13,159 |  |  |  | 2,474 |  |  |  | 1,126 |  |  |  | 1,348 |  |  |  | (1,784 | ) |  |  | (777 | ) |  |  | (110 | )
2019 |  |  |  |  | Revenues (including intragroup transactions) |  |  | Less: Intragroup transactions |  |  | Revenues |  |  | Operating EBITDA |  |  | Less: Depreciation and amortization |  |  | Operating earnings before other expenses, net |  |  | Other expenses, net |  |  | Financial expense |  |  | Other financing items, net |
Mexico |  | $ |  |  |  |  | 2,897 |  |  |  | (105 | ) |  |  | 2,792 |  |  |  | 969 |  |  |  | 159 |  |  |  | 810 |  |  |  | (48 | ) |  |  | (36 | ) |  |  | (1 | )
United States |  |  |  |  |  |  | 3,780 |  |  |  | — |  |  |  | 3,780 |  |  |  | 629 |  |  |  | 392 |  |  |  | 237 |  |  |  | (22 | ) |  |  | (64 | ) |  |  | (13 | )
EMEAA |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United Kingdom |  |  |  |  |  |  | 749 |  |  |  | — |  |  |  | 749 |  |  |  | 119 |  |  |  | 69 |  |  |  | 50 |  |  |  | (2 | ) |  |  | (11 | ) |  |  | (17 | )
France |  |  |  |  |  |  | 869 |  |  |  | — |  |  |  | 869 |  |  |  | 94 |  |  |  | 48 |  |  |  | 46 |  |  |  | (4 | ) |  |  | (11 | ) |  |  | — |
Germany |  |  |  |  |  |  | 439 |  |  |  | (25 | ) |  |  | 414 |  |  |  | 65 |  |  |  | 28 |  |  |  | 37 |  |  |  | 3 |  |  |  | (3 | ) |  |  | (4 | )
Spain |  |  |  |  |  |  | 319 |  |  |  | (25 | ) |  |  | 294 |  |  |  | 16 |  |  |  | 34 |  |  |  | (18 | ) |  |  | (8 | ) |  |  | (2 | ) |  |  | 2 |
Philippines 1 |  |  |  |  |  |  | 458 |  |  |  | — |  |  |  | 458 |  |  |  | 117 |  |  |  | 38 |  |  |  | 79 |  |  |  | 1 |  |  |  | 6 |  |  |  | 4 |
Israel |  |  |  |  |  |  | 660 |  |  |  | — |  |  |  | 660 |  |  |  | 89 |  |  |  | 23 |  |  |  | 66 |  |  |  | — |  |  |  | (2 | ) |  |  | 1 |
Rest of EMEAA |  |  |  |  |  |  | 958 |  |  |  | (14 | ) |  |  | 944 |  |  |  | 132 |  |  |  | 71 |  |  |  | 61 |  |  |  | (7 | ) |  |  | (7 | ) |  |  | 26 |
SCA&C |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Colombia 2 |  |  |  |  |  |  | 504 |  |  |  | — |  |  |  | 504 |  |  |  | 90 |  |  |  | 29 |  |  |  | 61 |  |  |  | (21 | ) |  |  | (4 | ) |  |  | (3 | )
Panama 2 |  |  |  |  |  |  | 181 |  |  |  | (2 | ) |  |  | 179 |  |  |  | 48 |  |  |  | 17 |  |  |  | 31 |  |  |  | (9 | ) |  |  | (1 | ) |  |  | — |
Caribbean TCL 3 |  |  |  |  |  |  | 248 |  |  |  | (8 | ) |  |  | 240 |  |  |  | 56 |  |  |  | 23 |  |  |  | 33 |  |  |  | (2 | ) |  |  | (6 | ) |  |  | (4 | )
Dominican Republic |  |  |  |  |  |  | 245 |  |  |  | (17 | ) |  |  | 228 |  |  |  | 84 |  |  |  | 9 |  |  |  | 75 |  |  |  | (1 | ) |  |  | — |  |  |  | — |
Rest of SCA&C 2 |  |  |  |  |  |  | 511 |  |  |  | (17 | ) |  |  | 494 |  |  |  | 107 |  |  |  | 20 |  |  |  | 87 |  |  |  | (60 | ) |  |  | (3 | ) |  |  | (6 | )
Others |  |  |  |  |  |  | 1,104 |  |  |  | (579 | ) |  |  | 525 |  |  |  | (237 | ) |  |  | 85 |  |  |  | (322 | ) |  |  | (167 | ) |  |  | (567 | ) |  |  | (56 | )
Continuing operations |  |  |  |  |  |  | 13,922 |  |  |  | (792 | ) |  |  | 13,130 |  |  |  | 2,378 |  |  |  | 1,045 |  |  |  | 1,333 |  |  |  | (347 | ) |  |  | (711 | ) |  |  | (71 | )
Discontinued operations |  |  |  |  |  |  | 572 |  |  |  | — |  |  |  | 572 |  |  |  | 89 |  |  |  | 51 |  |  |  | 38 |  |  |  | 1 |  |  |  | — |  |  |  | — |
Total |  | $ |  |  |  |  | 14,494 |  |  |  | (792 | ) |  |  | 13,702 |  |  |  | 2,467 |  |  |  | 1,096 |  |  |  | 1,371 |  |  |  | (346 | ) |  |  | (711 | ) |  |  | (71 | )
2018 |  |  |  |  | Revenues (including intragroup transactions) |  |  | Less: Intragroup transactions |  |  | Revenues |  |  | Operating EBITDA |  |  | Less: Depreciation and amortization |  |  | Operating earnings before other expenses, net |  |  | Other expenses, net |  |  | Financial expense |  |  | Other financing items, net |
Mexico |  | $ |  |  |  |  | 3,302 |  |  |  | (91 | ) |  |  | 3,211 |  |  |  | 1,217 |  |  |  | 148 |  |  |  | 1,069 |  |  |  | (33 | ) |  |  | (32 | ) |  |  | (3 | )
United States |  |  |  |  |  |  | 3,614 |  |  |  | — |  |  |  | 3,614 |  |  |  | 686 |  |  |  | 369 |  |  |  | 317 |  |  |  | (18 | ) |  |  | (53 | ) |  |  | (11 | )
EMEAA |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United Kingdom |  |  |  |  |  |  | 773 |  |  |  | — |  |  |  | 773 |  |  |  | 117 |  |  |  | 67 |  |  |  | 50 |  |  |  | (7 | ) |  |  | (12 | ) |  |  | (22 | )
France |  |  |  |  |  |  | 895 |  |  |  | — |  |  |  | 895 |  |  |  | 91 |  |  |  | 50 |  |  |  | 41 |  |  |  | (47 | ) |  |  | (13 | ) |  |  | — |
Germany |  |  |  |  |  |  | 429 |  |  |  | (75 | ) |  |  | 354 |  |  |  | 37 |  |  |  | 28 |  |  |  | 9 |  |  |  | (8 | ) |  |  | (3 | ) |  |  | (4 | )
Spain |  |  |  |  |  |  | 334 |  |  |  | (47 | ) |  |  | 287 |  |  |  | 13 |  |  |  | 33 |  |  |  | (20 | ) |  |  | (16 | ) |  |  | (3 | ) |  |  | 3 |
Philippines 1 |  |  |  |  |  |  | 448 |  |  |  | — |  |  |  | 448 |  |  |  | 93 |  |  |  | 36 |  |  |  | 57 |  |  |  | (3 | ) |  |  | (2 | ) |  |  | (4 | )
Israel |  |  |  |  |  |  | 630 |  |  |  | — |  |  |  | 630 |  |  |  | 87 |  |  |  | 21 |  |  |  | 66 |  |  |  | — |  |  |  | (3 | ) |  |  | (1 | )
Rest of EMEAA |  |  |  |  |  |  | 1,090 |  |  |  | (51 | ) |  |  | 1,039 |  |  |  | 157 |  |  |  | 72 |  |  |  | 85 |  |  |  | (12 | ) |  |  | (6 | ) |  |  | (5 | )
SCA&C |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Colombia 2 |  |  |  |  |  |  | 524 |  |  |  | — |  |  |  | 524 |  |  |  | 97 |  |  |  | 29 |  |  |  | 68 |  |  |  | 6 |  |  |  | (7 | ) |  |  | (22 | )
Panama 2 |  |  |  |  |  |  | 222 |  |  |  | — |  |  |  | 222 |  |  |  | 66 |  |  |  | 17 |  |  |  | 49 |  |  |  | (3 | ) |  |  | (1 | ) |  |  | — |
Caribbean TCL 3 |  |  |  |  |  |  | 254 |  |  |  | (5 | ) |  |  | 249 |  |  |  | 58 |  |  |  | 19 |  |  |  | 39 |  |  |  | (15 | ) |  |  | (3 | ) |  |  | (2 | )
Dominican Republic |  |  |  |  |  |  | 218 |  |  |  | (16 | ) |  |  | 202 |  |  |  | 61 |  |  |  | 10 |  |  |  | 51 |  |  |  | (1 | ) |  |  | (1 | ) |  |  | 2 |
Rest of SCA&C 2 |  |  |  |  |  |  | 590 |  |  |  | (20 | ) |  |  | 570 |  |  |  | 133 |  |  |  | 21 |  |  |  | 112 |  |  |  | (7 | ) |  |  | (3 | ) |  |  | 14 |
Others |  |  |  |  |  |  | 1,247 |  |  |  | (734 | ) |  |  | 513 |  |  |  | (228 | ) |  |  | 62 |  |  |  | (290 | ) |  |  | (132 | ) |  |  | (580 | ) |  |  | 53 |
Continuing operations |  |  |  |  |  |  | 14,570 |  |  |  | (1,039 | ) |  |  | 13,531 |  |  |  | 2,685 |  |  |  | 982 |  |  |  | 1,703 |  |  |  | (296 | ) |  |  | (722 | ) |  |  | (2 | )
Discontinued operations |  |  |  |  |  |  | 868 |  |  |  | — |  |  |  | 868 |  |  |  | 147 |  |  |  | 71 |  |  |  | 76 |  |  |  | (1 | ) |  |  | (2 | ) |  |  | — |
Total |  | $ |  |  |  |  | 15,438 |  |  |  | (1,039 | ) |  |  | 14,399 |  |  |  | 2,832 |  |  |  | 1,053 |  |  |  | 1,779 |  |  |  | (297 | ) |  |  | (724 | ) |  |  | (2 | )
1 | CEMEX’s operations in the Philippines are mainly conducted through CEMEX Holdings Philippines, Inc. (“CHP”), a Philippine company whose shares trade on the Philippines Stock Exchange. As of December 31, 2020 and 2019, there is a non-controlling interest in CHP of 22.16% and 33.22% of its ordinary shares (note 21.4).
2 | CEMEX Latam Holdings, S.A. (“CLH”), a company incorporated in Spain, trades its ordinary shares on the Colombian Stock Exchange. CLH is the indirect holding company of CEMEX’s operations in Colombia, Panama, Costa Rica, Guatemala, Nicaragua and El Salvador. At year end 2020 and 2019, there is a non-controlling interest in CLH of 7.63% and 26.83%, respectively, of its ordinary shares, excluding shares held in CLH’s treasury (note 21.4).
3 | The shares of TCL trade on the Trinidad and Tobago Stock Exchange. As of December 31, 2020 and 2019, there is a non-controlling interest in TCL of 30.17% of its ordinary shares in both years (note 21.4).
Debt by reportable segment is disclosed in note 17.1. As of December 31, 2020 and 2019, selected statement of financial position information by reportable segment was as follows:
2020 |  |  |  |  | Equity accounted investees |  |  | Other segment assets |  |  | Total assets |  |  | Total liabilities |  |  | Net assets by segment |  |  | Additions to fixed assets 1 |
Mexico |  | $ |  |  |  |  | — |  |  |  | 3,837 |  |  |  | 3,837 |  |  |  | 1,523 |  |  |  | 2,314 |  |  |  | 144 |
United States |  |  |  |  |  |  | 146 |  |  |  | 12,296 |  |  |  | 12,442 |  |  |  | 2,490 |  |  |  | 9,952 |  |  |  | 284 |
EMEAA |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United Kingdom |  |  |  |  |  |  | 6 |  |  |  | 1,507 |  |  |  | 1,513 |  |  |  | 1,368 |  |  |  | 145 |  |  |  | 55 |
France |  |  |  |  |  |  | 53 |  |  |  | 999 |  |  |  | 1,052 |  |  |  | 585 |  |  |  | 467 |  |  |  | 62 |
Germany |  |  |  |  |  |  | 4 |  |  |  | 412 |  |  |  | 416 |  |  |  | 357 |  |  |  | 59 |  |  |  | 24 |
Spain |  |  |  |  |  |  | — |  |  |  | 1,023 |  |  |  | 1,023 |  |  |  | 230 |  |  |  | 793 |  |  |  | 22 |
Philippines |  |  |  |  |  |  | — |  |  |  | 761 |  |  |  | 761 |  |  |  | 158 |  |  |  | 603 |  |  |  | 82 |
Israel |  |  |  |  |  |  | — |  |  |  | 769 |  |  |  | 769 |  |  |  | 507 |  |  |  | 262 |  |  |  | 28 |
Rest of EMEAA |  |  |  |  |  |  | 9 |  |  |  | 1,172 |  |  |  | 1,181 |  |  |  | 417 |  |  |  | 764 |  |  |  | 51 |
SCA&C |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Colombia |  |  |  |  |  |  | — |  |  |  | 1,105 |  |  |  | 1,105 |  |  |  | 514 |  |  |  | 591 |  |  |  | 14 |
Panama |  |  |  |  |  |  | — |  |  |  | 295 |  |  |  | 295 |  |  |  | 78 |  |  |  | 217 |  |  |  | 3 |
Caribbean TCL |  |  |  |  |  |  | — |  |  |  | 493 |  |  |  | 493 |  |  |  | 258 |  |  |  | 235 |  |  |  | 16 |
Dominican Republic |  |  |  |  |  |  | — |  |  |  | 158 |  |  |  | 158 |  |  |  | 66 |  |  |  | 92 |  |  |  | 2 |
Rest of SCA&C |  |  |  |  |  |  | — |  |  |  | 333 |  |  |  | 333 |  |  |  | 162 |  |  |  | 171 |  |  |  | 7 |
Others |  |  |  |  |  |  | 292 |  |  |  | 1,568 |  |  |  | 1,860 |  |  |  | 9,754 |  |  |  | (7,894 | ) |  |  | 1 |
Total |  |  |  |  |  |  | 510 |  |  |  | 26,728 |  |  |  | 27,238 |  |  |  | 18,467 |  |  |  | 8,771 |  |  |  | 795 |
Assets held for sale and related liabilities (note 13.1) |  |  |  |  |  |  | — |  |  |  | 187 |  |  |  | 187 |  |  |  | 6 |  |  |  | 181 |  |  |  | — |
Total consolidated |  | $ |  |  |  |  | 510 |  |  |  | 26,915 |  |  |  | 27,425 |  |  |  | 18,473 |  |  |  | 8,952 |  |  |  | 795 |
2019 |  |  |  |  | Equity accounted investees |  |  | Other segment assets |  |  | Total assets |  |  | Total liabilities |  |  | Net assets by segment |  |  | Additions to fixed assets 1 |
Mexico |  | $ |  |  |  |  | — |  |  |  | 3,910 |  |  |  | 3,910 |  |  |  | 1,443 |  |  |  | 2,467 |  |  |  | 199 |
United States |  |  |  |  |  |  | 143 |  |  |  | 13,755 |  |  |  | 13,898 |  |  |  | 2,440 |  |  |  | 11,458 |  |  |  | 398 |
EMEAA |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United Kingdom |  |  |  |  |  |  | 6 |  |  |  | 1,556 |  |  |  | 1,562 |  |  |  | 1,225 |  |  |  | 337 |  |  |  | 67 |
France |  |  |  |  |  |  | 50 |  |  |  | 928 |  |  |  | 978 |  |  |  | 460 |  |  |  | 518 |  |  |  | 38 |
Germany |  |  |  |  |  |  | 4 |  |  |  | 397 |  |  |  | 401 |  |  |  | 353 |  |  |  | 48 |  |  |  | 25 |
Spain |  |  |  |  |  |  | — |  |  |  | 1,190 |  |  |  | 1,190 |  |  |  | 185 |  |  |  | 1,005 |  |  |  | 34 |
Philippines |  |  |  |  |  |  | — |  |  |  | 689 |  |  |  | 689 |  |  |  | 141 |  |  |  | 548 |  |  |  | 84 |
Israel |  |  |  |  |  |  | — |  |  |  | 611 |  |  |  | 611 |  |  |  | 429 |  |  |  | 182 |  |  |  | 33 |
Rest of EMEAA |  |  |  |  |  |  | 11 |  |  |  | 1,168 |  |  |  | 1,179 |  |  |  | 435 |  |  |  | 744 |  |  |  | 65 |
SCA&C |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Colombia |  |  |  |  |  |  | — |  |  |  | 1,187 |  |  |  | 1,187 |  |  |  | 428 |  |  |  | 759 |  |  |  | 25 |
Panama |  |  |  |  |  |  | — |  |  |  | 337 |  |  |  | 337 |  |  |  | 105 |  |  |  | 232 |  |  |  | 10 |
Caribbean TCL |  |  |  |  |  |  | — |  |  |  | 542 |  |  |  | 542 |  |  |  | 236 |  |  |  | 306 |  |  |  | 21 |
Dominican Republic |  |  |  |  |  |  | — |  |  |  | 193 |  |  |  | 193 |  |  |  | 66 |  |  |  | 127 |  |  |  | 8 |
Rest of SCA&C |  |  |  |  |  |  | — |  |  |  | 381 |  |  |  | 381 |  |  |  | 164 |  |  |  | 217 |  |  |  | 18 |
Others |  |  |  |  |  |  | 267 |  |  |  | 1,199 |  |  |  | 1,466 |  |  |  | 10,392 |  |  |  | (8,926 | ) |  |  | 8 |
Total |  |  |  |  |  |  | 481 |  |  |  | 28,043 |  |  |  | 28,524 |  |  |  | 18,502 |  |  |  | 10,022 |  |  |  | 1,033 |
Assets held for sale and related liabilities (note 13.1) |  |  |  |  |  |  | — |  |  |  | 839 |  |  |  | 839 |  |  |  | 37 |  |  |  | 802 |  |  |  | — |
Total consolidated |  | $ |  |  |  |  | 481 |  |  |  | 28,882 |  |  |  | 29,363 |  |  |  | 18,539 |  |  |  | 10,824 |  |  |  | 1,033 |
1 | In 2020 and 2019, the column “Additions to fixed assets” includes capital expenditures, which comprises acquisitions of property, machinery and equipment as well as additions of assets for the right-of-use, for combined amounts of $795 and $1,033, respectively (note 15).
Revenues by line of business and reportable segment for the years ended December 31, 2020, 2019 and 2018 were as follows:
2020 |  |  |  |  | Cement |  |  | Concrete |  |  | Aggregates |  |  | Others |  |  | Eliminations |  |  | Revenues |
Mexico |  | $ |  |  |  |  | 2,001 |  |  |  | 628 |  |  |  | 172 |  |  |  | 587 |  |  |  | (710 | ) |  |  | 2,678 |
United States |  |  |  |  |  |  | 1,599 |  |  |  | 2,255 |  |  |  | 954 |  |  |  | 481 |  |  |  | (1,296 | ) |  |  | 3,993 |
EMEAA |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United Kingdom |  |  |  |  |  |  | 201 |  |  |  | 274 |  |  |  | 314 |  |  |  | 229 |  |  |  | (279 | ) |  |  | 739 |
France |  |  |  |  |  |  | — |  |  |  | 647 |  |  |  | 340 |  |  |  | 8 |  |  |  | (200 | ) |  |  | 795 |
Germany |  |  |  |  |  |  | 210 |  |  |  | 202 |  |  |  | 69 |  |  |  | 116 |  |  |  | (145 | ) |  |  | 452 |
Spain |  |  |  |  |  |  | 233 |  |  |  | 83 |  |  |  | 24 |  |  |  | 25 |  |  |  | (62 | ) |  |  | 303 |
Philippines |  |  |  |  |  |  | 398 |  |  |  | — |  |  |  | — |  |  |  | 3 |  |  |  | (3 | ) |  |  | 398 |
Israel |  |  |  |  |  |  | — |  |  |  | 623 |  |  |  | 195 |  |  |  | 113 |  |  |  | (177 | ) |  |  | 754 |
Rest of EMEAA |  |  |  |  |  |  | 643 |  |  |  | 363 |  |  |  | 80 |  |  |  | 34 |  |  |  | (177 | ) |  |  | 943 |
SCA&C |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Colombia |  |  |  |  |  |  | 294 |  |  |  | 119 |  |  |  | 34 |  |  |  | 64 |  |  |  | (107 | ) |  |  | 404 |
Panama |  |  |  |  |  |  | 67 |  |  |  | 14 |  |  |  | 4 |  |  |  | 4 |  |  |  | (16 | ) |  |  | 73 |
Caribbean TCL |  |  |  |  |  |  | 245 |  |  |  | 5 |  |  |  | 7 |  |  |  | 15 |  |  |  | (28 | ) |  |  | 244 |
Dominican Republic |  |  |  |  |  |  | 185 |  |  |  | 15 |  |  |  | 5 |  |  |  | 38 |  |  |  | (25 | ) |  |  | 218 |
Rest of SCA&C |  |  |  |  |  |  | 458 |  |  |  | 32 |  |  |  | 9 |  |  |  | 24 |  |  |  | (32 | ) |  |  | 491 |
Others |  |  |  |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 959 |  |  |  | (474 | ) |  |  | 485 |
Continuing operations |  |  |  |  |  |  | 6,534 |  |  |  | 5,260 |  |  |  | 2,207 |  |  |  | 2,700 |  |  |  | (3,731 | ) |  |  | 12,970 |
Discontinued operations |  |  |  |  |  |  | 68 |  |  |  | 28 |  |  |  | 55 |  |  |  | 53 |  |  |  | (15 | ) |  |  | 189 |
Total |  | $ |  |  |  |  | 6,602 |  |  |  | 5,288 |  |  |  | 2,262 |  |  |  | 2,753 |  |  |  | (3,746 | ) |  |  | 13,159 |
2019 |  |  |  |  | Cement |  |  | Concrete |  |  | Aggregates |  |  | Others |  |  | Eliminations |  |  | Revenues |
Mexico |  | $ |  |  |  |  | 2,009 |  |  |  | 798 |  |  |  | 196 |  |  |  | 445 |  |  |  | (656 | ) |  |  | 2,792 |
United States |  |  |  |  |  |  | 1,608 |  |  |  | 2,189 |  |  |  | 917 |  |  |  | 332 |  |  |  | (1,266 | ) |  |  | 3,780 |
EMEAA |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United Kingdom |  |  |  |  |  |  | 227 |  |  |  | 310 |  |  |  | 290 |  |  |  | 246 |  |  |  | (324 | ) |  |  | 749 |
France |  |  |  |  |  |  | — |  |  |  | 720 |  |  |  | 355 |  |  |  | 4 |  |  |  | (210 | ) |  |  | 869 |
Germany |  |  |  |  |  |  | 192 |  |  |  | 184 |  |  |  | 62 |  |  |  | 43 |  |  |  | (67 | ) |  |  | 414 |
Spain |  |  |  |  |  |  | 228 |  |  |  | 86 |  |  |  | 23 |  |  |  | 18 |  |  |  | (61 | ) |  |  | 294 |
Philippines |  |  |  |  |  |  | 457 |  |  |  | — |  |  |  | — |  |  |  | 2 |  |  |  | (1 | ) |  |  | 458 |
Israel |  |  |  |  |  |  | — |  |  |  | 554 |  |  |  | 166 |  |  |  | 78 |  |  |  | (138 | ) |  |  | 660 |
Rest of EMEAA |  |  |  |  |  |  | 609 |  |  |  | 378 |  |  |  | 89 |  |  |  | 28 |  |  |  | (160 | ) |  |  | 944 |
SCA&C |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Colombia |  |  |  |  |  |  | 363 |  |  |  | 176 |  |  |  | 53 |  |  |  | 51 |  |  |  | (139 | ) |  |  | 504 |
Panama |  |  |  |  |  |  | 141 |  |  |  | 49 |  |  |  | 15 |  |  |  | 12 |  |  |  | (38 | ) |  |  | 179 |
Caribbean TCL |  |  |  |  |  |  | 241 |  |  |  | 9 |  |  |  | 5 |  |  |  | 9 |  |  |  | (24 | ) |  |  | 240 |
Dominican Republic |  |  |  |  |  |  | 194 |  |  |  | 27 |  |  |  | 8 |  |  |  | 25 |  |  |  | (26 | ) |  |  | 228 |
Rest of SCA&C |  |  |  |  |  |  | 448 |  |  |  | 48 |  |  |  | 11 |  |  |  | 18 |  |  |  | (31 | ) |  |  | 494 |
Others |  |  |  |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,107 |  |  |  | (582 | ) |  |  | 525 |
Continuing operations |  |  |  |  |  |  | 6,717 |  |  |  | 5,528 |  |  |  | 2,190 |  |  |  | 2,418 |  |  |  | (3,723 | ) |  |  | 13,130 |
Discontinued operations |  |  |  |  |  |  | 229 |  |  |  | 110 |  |  |  | 154 |  |  |  | 85 |  |  |  | (6 | ) |  |  | 572 |
Total |  | $ |  |  |  |  | 6,946 |  |  |  | 5,638 |  |  |  | 2,344 |  |  |  | 2,503 |  |  |  | (3,729 | ) |  |  | 13,702 |
2018 |  |  |  |  | Cement |  |  | Concrete |  |  | Aggregates |  |  | Others |  |  | Eliminations |  |  | Revenues |
Mexico |  | $ |  |  |  |  | 2,302 |  |  |  | 898 |  |  |  | 210 |  |  |  | 642 |  |  |  | (841 | ) |  |  | 3,211 |
United States |  |  |  |  |  |  | 1,584 |  |  |  | 2,088 |  |  |  | 850 |  |  |  | 393 |  |  |  | (1,301 | ) |  |  | 3,614 |
EMEAA |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United Kingdom |  |  |  |  |  |  | 237 |  |  |  | 325 |  |  |  | 300 |  |  |  | 281 |  |  |  | (370 | ) |  |  | 773 |
France |  |  |  |  |  |  | — |  |  |  | 735 |  |  |  | 353 |  |  |  | 9 |  |  |  | (202 | ) |  |  | 895 |
Germany |  |  |  |  |  |  | 186 |  |  |  | 197 |  |  |  | 56 |  |  |  | 136 |  |  |  | (221 | ) |  |  | 354 |
Spain |  |  |  |  |  |  | 250 |  |  |  | 70 |  |  |  | 19 |  |  |  | 17 |  |  |  | (69 | ) |  |  | 287 |
Philippines |  |  |  |  |  |  | 444 |  |  |  | — |  |  |  | 3 |  |  |  | 2 |  |  |  | (1 | ) |  |  | 448 |
Israel |  |  |  |  |  |  | — |  |  |  | 521 |  |  |  | 159 |  |  |  | 110 |  |  |  | (160 | ) |  |  | 630 |
Rest of EMEAA |  |  |  |  |  |  | 656 |  |  |  | 416 |  |  |  | 94 |  |  |  | 205 |  |  |  | (332 | ) |  |  | 1,039 |
SCA&C |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Colombia |  |  |  |  |  |  | 353 |  |  |  | 189 |  |  |  | 55 |  |  |  | 92 |  |  |  | (165 | ) |  |  | 524 |
Panama |  |  |  |  |  |  | 171 |  |  |  | 71 |  |  |  | 23 |  |  |  | 14 |  |  |  | (57 | ) |  |  | 222 |
Caribbean TCL |  |  |  |  |  |  | 245 |  |  |  | 10 |  |  |  | 5 |  |  |  | 13 |  |  |  | (24 | ) |  |  | 249 |
Dominican Republic |  |  |  |  |  |  | 178 |  |  |  | 27 |  |  |  | 9 |  |  |  | 24 |  |  |  | (36 | ) |  |  | 202 |
Rest of SCA&C |  |  |  |  |  |  | 510 |  |  |  | 63 |  |  |  | 14 |  |  |  | 24 |  |  |  | (41 | ) |  |  | 570 |
Others |  |  |  |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,285 |  |  |  | (772 | ) |  |  | 513 |
Continuing operations |  |  |  |  |  |  | 7,116 |  |  |  | 5,610 |  |  |  | 2,150 |  |  |  | 3,247 |  |  |  | (4,592 | ) |  |  | 13,531 |
Discontinued operations |  |  |  |  |  |  | 420 |  |  |  | 219 |  |  |  | 236 |  |  |  | 144 |  |  |  | (151 | ) |  |  | 868 |
Total |  | $ |  |  |  |  | 7,536 |  |  |  | 5,829 |  |  |  | 2,386 |  |  |  | 3,391 |  |  |  | (4,743 | ) |  |  | 14,399 |

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