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Equity Accounted Investees, Other Investments and Non-Current Accounts Receivable

12 Months Ended

Dec. 31, 2020

Equity Accounted Investees, Other Investments and Non-Current Accounts Receivable

14)	EQUITY ACCOUNTED INVESTEES, OTHER INVESTMENTS AND NON-CURRENT ACCOUNTS RECEIVABLE

14.1)

EQUITY ACCOUNTED INVESTEES

As of December 31, 2020 and 2019, the investments in common shares of associates were as follows:


	Activity	Country		%			2020		2019
Camcem, S.A. de C.V.	Cement		Mexico		40.1	$		244		229
Concrete Supply Co. LLC	Concrete		United States		40.0			81		75
Lehigh White Cement Company	Cement		United States		36.8			62		64
Société d’Exploitation de Carrières	Aggregates		France		50.0			21		17
Société Méridionale de Carrières	Aggregates		France		33.3			14		15
Other companies	—		—		—			88		81

						$		510		481

Out of which:
Book value at acquisition date						$		311		331
Changes in stockholders’ equity						$		199		150

Combined condensed statement of financial position information of CEMEX’s associates as of December 31, 2020 and 2019 is set forth below:


		2020		2019
Current assets	$		1,240		982
Non-current assets			1,662		1,757

Total assets			2,902		2,739

Current liabilities			496		326
Non-current liabilities			766		898

Total liabilities			1,262		1,224

Total net assets	$		1,640		1,515

Combined selected information of the statements of operations of CEMEX’s associates in 2020, 2019 and 2018 is set forth below:


		2020		2019		2018
Sales	$		1,759		1,600		1,449
Operating earnings			296		237		224
Income before income tax			175		158		110
Net income			128		118		86

The share of equity accounted investees by reportable segment in the statements of operations for 2020, 2019 and 2018 is detailed as follows:


		2020			2019			2018
Mexico	$		30			23			13
United States			15			18			15
EMEAA			6			10			7
Corporate and others			(2	)		(2	)		(1	)

	$		49			49			34

14.2)

OTHER INVESTMENTS AND

NON-CURRENT

ACCOUNTS RECEIVABLE

As of December 31, 2020 and 2019, consolidated other investments and

non-current

accounts receivable were summarized as follows:


		2020		2019
Non-current accounts receivable 1	$		246		197
Investments at fair value through the income statement 2			23		34
Non-current portion of valuation of derivative financial instruments (note 17.4)			3		2
Investments in strategic equity securities 3			3		3

	$		275		236

Includes, among other items: a) accounts receivable from investees and joint ventures of $36 in 2020 and $32 in 2019, b) advances to suppliers of fixed assets of $47 in 2020 and $32 in 2019, c) employee prepaid compensation of $6 in 2020 and $7 in 2019, d) refundable taxes of $10 in 2019; and e) warranty deposits of $29 in 2020 and $33 in 2019.

2	Refers to investments in private funds and investments related to employee’ savings funds. In 2020 and 2019, no contributions were made to such private funds.

3	This line item refers mainly to a strategic investment in CPOs of Axtel, S.A.B. de C.V. (“Axtel”). This investment is recognized at fair value through other comprehensive income.