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Property, Machinery and Equipment, Net and Assets For The Right-Of-Use, Net | 12 Months Ended
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Dec. 31, 2021
Text block [abstract] |
Property, Machinery and Equipment, Net and Assets For The Right-Of-Use, Net |
16) | PROPERTY, MACHINERY AND EQUIPMENT, NET AND ASSETS FOR THE RIGHT-OF-USE, NET
As of December 31, 2021 and 2020, property, machinery and equipment, net and assets for the right-of-use, net were summarized as follows:
|  | 2021 |  |  | 2020 |
Property, machinery and equipment, net |  | $ | 10,202 |  |  |  | 10,170 |
Assets for the right-of-use, net |  |  | 1,120 |  |  |  | 1,243 |
|  | $ | 11,322 |  |  |  | 11,413 |
16.1) PROPERTY, MACHINERY AND EQUIPMENT, NET As of December 31, 2021 and 2020, consolidate d property, machinery and equipment, net and the changes in this line item during 2021, 2020 and 2019, were as follows:
|  | 2021 |
|  | Land and mineral reserves |  |  | Building |  |  | Machinery and equipment |  |  | Construction in progress 1 |  |  | Total |
Cost at beginning of period |  | $ | 4,741 |  |  |  | 2,438 |  |  |  | 11,929 |  |  |  | 1,188 |  |  |  | 20,296 |
Accumulated depreciation and depletion |  |  | (1,177 | ) |  |  | (1,474 | ) |  |  | (7,475 | ) |  |  | — |  |  |  | (10,126 | )
Net book value at beginning of period |  |  | 3,564 |  |  |  | 964 |  |  |  | 4,454 |  |  |  | 1,188 |  |  |  | 10,170 |
Capital expenditures |  |  | 81 |  |  |  | 159 |  |  |  | 609 |  |  |  | — |  |  |  | 849 |
Stripping costs |  |  | 18 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 18 |
Total capital expenditures |  |  | 99 |  |  |  | 159 |  |  |  | 609 |  |  |  | — |  |  |  | 867 |
Disposals 2 |  |  | (20 | ) |  |  | (6 | ) |  |  | (80 | ) |  |  | — |  |  |  | (106 | )
Reclassifications 3 |  |  | (4 | ) |  |  | (8 | ) |  |  | (29 | ) |  |  | (3 | ) |  |  | (44 | )
Depreciation and depletion for the period |  |  | (108 | ) |  |  | (74 | ) |  |  | (542 | ) |  |  | — |  |  |  | (724 | )
Impairment losses |  |  | (11 | ) |  |  | (9 | ) |  |  | (15 | ) |  |  | (8 | ) |  |  | (43 | )
Foreign currency translation effects |  |  | 55 |  |  |  | 12 |  |  |  | (70 | ) |  |  | 85 |  |  |  | 82 |
Cost at end of period |  |  | 4,801 |  |  |  | 2,532 |  |  |  | 11,727 |  |  |  | 1,262 |  |  |  | 20,322 |
Accumulated depreciation and depletion |  |  | (1,226 | ) |  |  | (1,494 | ) |  |  | (7,400 | ) |  |  | — |  |  |  | (10,120 | )
Net book value at end of period |  | $ | 3,575 |  |  |  | 1,038 |  |  |  | 4,327 |  |  |  | 1,262 |  |  |  | 10,202 |
|  | 2020 |  |  |  |
|  | Land and mineral reserves |  |  | Building |  |  | Machinery and equipment |  |  | Construction in progress 1 |  |  | Total |  |  | 2019 1, 2 |
Cost at beginning of period |  | $ | 4,606 |  |  |  | 2,374 |  |  |  | 11,519 |  |  |  | 1,209 |  |  |  | 19,708 |  |  |  | 20,642 |
Accumulated depreciation and depletion |  |  | (968 | ) |  |  | (1,326 | ) |  |  | (6,849 | ) |  |  | — |  |  |  | (9,143 | ) |  |  | (9,410 | )
Net book value at beginning of period |  |  | 3,638 |  |  |  | 1,048 |  |  |  | 4,670 |  |  |  | 1,209 |  |  |  | 10,565 |  |  |  | 11,232 |
Capital expenditures |  |  | 47 |  |  |  | 35 |  |  |  | 482 |  |  |  | — |  |  |  | 564 |  |  |  | 737 |
Stripping costs |  |  | 18 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 18 |  |  |  | 22 |
Total capital expenditures |  |  | 65 |  |  |  | 35 |  |  |  | 482 |  |  |  | — |  |  |  | 582 |  |  |  | 759 |
Disposals 2 |  |  | (26 | ) |  |  | (7 | ) |  |  | (30 | ) |  |  | — |  |  |  | (63 | ) |  |  | (96 | )
Reclassifications 3 |  |  | (10 | ) |  |  | (2 | ) |  |  | (6 | ) |  |  | — |  |  |  | (18 | ) |  |  | (402 | )
Business combinations (note 5.1) |  |  | — |  |  |  | — |  |  |  | 11 |  |  |  | — |  |  |  | 11 |  |  |  | — |
Depreciation and depletion for the period |  |  | (134 | ) |  |  | (99 | ) |  |  | (515 | ) |  |  | — |  |  |  | (748 | ) |  |  | (633 | )
Impairment losses |  |  | (87 | ) |  |  | (54 | ) |  |  | (165 | ) |  |  | — |  |  |  | (306 | ) |  |  | (64 | )
Foreign currency translation effects |  |  | 118 |  |  |  | 43 |  |  |  | 7 |  |  |  | (21 | ) |  |  | 147 |  |  |  | (231 | )
Cost at end of period |  |  | 4,741 |  |  |  | 2,438 |  |  |  | 11,929 |  |  |  | 1,188 |  |  |  | 20,296 |  |  |  | 19,708 |
Accumulated depreciation and depletion |  |  | (1,177 | ) |  |  | (1,474 | ) |  |  | (7,475 | ) |  |  | — |  |  |  | (10,126 | ) |  |  | (9,143 | )
Net book value at end of period |  | $ | 3,564 |  |  |  | 964 |  |  |  | 4,454 |  |  |  | 1,188 |  |  |  | 10,170 |  |  |  | 10,565 |
1 | As of December 31, 2021, the Maceo plant in Colombia, finalized significantly in 2017, with an annual capacity of approximately 1.3 million tons, has not initiated commercial operations. As of the reporting date, the works related to the access road to the plant remain suspended and the beginning of commercial operations is subject to the successful conclusion of several ongoing processes for the proper operation of the assets and other legal proceedings (note 26.3). As of December 31, 2021, the carrying amount of the plant, is for an amount in Colombian pesos equivalent to $240.
2 | In 2021 includes sales of non-strategic fixed assets in Spain, the United States and the United Kingdom for $51, $29 and $12, respectively, among others. In 2020, includes sales of non-strategic fixed assets in the United Kingdom and the United States for $28 and $18, respectively, among others. In 2019, includes sales of non-strategic fixed assets in Germany, France and the United Kingdom for $32, $12 and $6, respectively, among others.
3 | In 2021, refers to the reclassification to held-for-sale of the assets in Costa Rica and El Salvador for $43 and $1, respectively. In 2020, refers to the reclassification of the assets in France, Puerto Rico, Colombia and Dominican Republic for $8, $5, $3 and $2, respectively. In 2019, refers to the reclassification to held-for-sale of the assets in the United States, United Kingdom and Spain for $134, $182 and $86, respectively.
During 2020, considering mainly the negative effects of the COVID-19 Pandemic on certain idle assets that will remain closed for the foreseeable future in relation to the estimated sales volumes and the Company’s ability to supply demand by achieving efficiencies in other operating assets, CEMEX recognized non-cash impairment losses for these assets for an aggregate amount of $306, of which $76 relate to assets in the United States mainly the North Brooksville plant, $189 to assets in EMEAA mainly referring to the Lloseta and Gador plants in Spain and the South Ferriby plant in the United Kingdom, and minor adjustments in other countries and $39 to assets in SCA&C mainly in connection with land in Puerto Rico and the kiln 1 in Panama. In 2019 due to the continued adverse outlook and the overall uncertain economic conditions in Puerto Rico after hurricane “Maria” in 2017, CEMEX recognized an impairment loss of $52. During 2021, there were no significant impairment losses of fixed assets. Moreover, during 2021 there were no reversal of impairment charges of the COVID-19 Pandemic’ related adjustments of 2020 due to assets being recommissioned. For the years ended December 31, 2021, 2020 and 2019, CEMEX adjusted the related fixed assets to their estimated value in use in those circumstances in which the assets would continue in operation based on estimated cash flows during the remaining useful life, or to their realizable value, in case of permanent shut down, and recognized impairment losses within the line item of “Other expenses, net” (notes 3.11 and 8). During the years ended December 31, 2021, 2020 and 2019 impairment losses of fixed assets by country are as follows:
|  | 2021 |  |  | 2020 |  |  | 2019 |
United States |  | $ | 18 |  |  |  | 76 |  |  |  | 6 |
Colombia |  |  | 10 |  |  |  | 2 |  |  |  | 3 |
United Kingdom |  |  | 5 |  |  |  | 39 |  |  |  | — |
Czech Republic |  |  | 5 |  |  |  | — |  |  |  | — |
Spain |  |  | — |  |  |  | 135 |  |  |  | — |
Puerto Rico |  |  | — |  |  |  | 20 |  |  |  | 52 |
Croatia |  |  | — |  |  |  | 13 |  |  |  | — |
Panama |  |  | — |  |  |  | 12 |  |  |  | — |
Others |  |  | 5 |  |  |  | 9 |  |  |  | 3 |
|  | $ | 43 |  |  |  | 306 |  |  |  | 64 |
16.2) | ASSETS FOR THE RIGHT-OF-USE, NET
As of December 31, 2021 and 2020, consolidated asset s for the right-of-use, net and the changes in this caption during 2021, 2020 and 2019, were as follows:
|  | 2021 |
|  | Land |  |  | Buildings |  |  | Machinery and equipment |  |  | Others |  |  | Total |
Assets for the right-of-use at beginning of period |  | $ | 409 |  |  |  | 457 |  |  |  | 1,502 |  |  |  | 21 |  |  |  | 2,389 |
Accumulated depreciation |  |  | (139 | ) |  |  | (253 | ) |  |  | (744 | ) |  |  | (10 | ) |  |  | (1,146 | )
Net book value at beginning of period |  |  | 270 |  |  |  | 204 |  |  |  | 758 |  |  |  | 11 |  |  |  | 1,243 |
Additions of new leases |  |  | 59 |  |  |  | 22 |  |  |  | 143 |  |  |  | 3 |  |  |  | 227 |
Cancellations and remeasurements |  |  | (28 | ) |  |  | (19 | ) |  |  | (87 | ) |  |  | – |  |  |  | (134 | )
Depreciation |  |  | (17 | ) |  |  | (37 | ) |  |  | (226 | ) |  |  | (3 | ) |  |  | (283 | )
Foreign currency translation effects |  |  | (36 | ) |  |  | 26 |  |  |  | 80 |  |  |  | (3 | ) |  |  | 67 |
Assets for the right-of-use at end of period |  |  | 395 |  |  |  | 401 |  |  |  | 1,513 |  |  |  | 21 |  |  |  | 2,330 |
Accumulated depreciation |  |  | (147 | ) |  |  | (205 | ) |  |  | (845 | ) |  |  | (13 | ) |  |  | (1,210 | )
Net book value at end of period |  | $ | 248 |  |  |  | 196 |  |  |  | 668 |  |  |  | 8 |  |  |  | 1,120 |
|  | 2020 |  |  |  |
|  | Land |  |  | Buildings |  |  | Machinery and equipment |  |  | Others |  |  | Total |  |  | 2019 |
Assets for the right-of-use at beginning of period |  | $ | 366 |  |  |  | 471 |  |  |  | 1,417 |  |  |  | 11 |  |  |  | 2,265 |  |  |  | 2,073 |
Accumulated depreciation |  |  | (117 | ) |  |  | (233 | ) |  |  | (625 | ) |  |  | (5 | ) |  |  | (980 | ) |  |  | (851 | )
Net book value at beginning of period |  |  | 249 |  |  |  | 238 |  |  |  | 792 |  |  |  | 6 |  |  |  | 1,285 |  |  |  | 1,222 |
Additions of new leases |  |  | 42 |  |  |  | 38 |  |  |  | 127 |  |  |  | 6 |  |  |  | 213 |  |  |  | 274 |
Cancellations and remeasurements |  |  | (7 | ) |  |  | (17 | ) |  |  | (51 | ) |  |  | (1 | ) |  |  | (76 | ) |  |  | (52 | )
Business combinations (note 5.1) |  |  | 13 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 13 |  |  |  | — |
Reclassifications |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 35 |
Depreciation |  |  | (28 | ) |  |  | (35 | ) |  |  | (173 | ) |  |  | (3 | ) |  |  | (239 | ) |  |  | (288 | )
Foreign currency translation effects |  |  | 1 |  |  |  | (20 | ) |  |  | 63 |  |  |  | 3 |  |  |  | 47 |  |  |  | 94 |
Assets for the right-of-use at end of period |  |  | 409 |  |  |  | 457 |  |  |  | 1,502 |  |  |  | 21 |  |  |  | 2,389 |  |  |  | 2,265 |
Accumulated depreciation |  |  | (139 | ) |  |  | (253 | ) |  |  | (744 | ) |  |  | (10 | ) |  |  | (1,146 | ) |  |  | (980 | )
Net book value at end of period |  | $ | 270 |  |  |  | 204 |  |  |  | 758 |  |  |  | 11 |  |  |  | 1,243 |  |  |  | 1,285 |
For the years ended December 31, 2021, 2020 and 2019, the combined rental expense related with short-term leases, leases of low-value assets and variable lease payments were $94, $97 and $104, respectively, and were recognized in cost of sales and operating expenses, as correspond. During the reported periods, CEMEX did not have any material revenue from sub-leasing activities. Moreover, during 2021 and 2020, CEMEX did not have significant rent concessions related to the COVID-19 Pandemic (note 2).

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