Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2020

The most significant closing exchange rates for statement of financial position accounts and the approximate average exchange rates (as determined using the closing exchange rates of each month within the period) for income statement accounts for the main functional currencies to the U.S. dollar as of December 31, 2020, 2019 and 2018, were as follows:


	2020				2019				2018
Currency	Closing		Average		Closing		Average		Closing		Average
Mexican peso		19.8900		21.5766		18.9200		19.3500		19.6500		19.2583
Euro		0.8183		0.8736		0.8917		0.8941		0.8727		0.8483
British Pound Sterling		0.7313		0.7758		0.7550		0.7831		0.7843		0.7521
Colombian Peso		3,433		3,730		3,277		3,300		3,250		2,972
Philippine Peso		48.0230		49.4944		50.6350		51.5650		52.5800		52.6925

Summary of Maximum Average Useful Lives of Fixed Assets

As of December 31, 2020, the average useful lives by category of fixed assets, which are reviewed at each reporting date and adjusted if appropriate, were as follows:


	Years
Administrative buildings		31
Industrial buildings		26
Machinery and equipment in plant		15
Ready-mix trucks and motor vehicles		9
Office equipment and other assets		6

Summary of Statutory Tax Rates

For the years ended December 31, 2020, 2019 and 2018, the statutory tax rates in CEMEX’s main operations were as follows:


Country	2020	2019	2018
Mexico	30.0%	30.0%	30.0%
United States	21.0%	21.0%	21.0%
United Kingdom	19.0%	19.3%	19.3%
France	32.0%	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	32.0%	33.0%	37.0%
Others	9.0% – 30.0%	7.8% – 35.0%	7.8% – 39.0%