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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, 2021
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 2021, a subsidiary of CEMEX in Israel acquired two ready-mix concrete plants from Kinneret and Beton-He’Emek for an amount in shekels equivalent to $6. As of December 31, 2021, based on the preliminary valuation of the fair values of the assets acquired and liabilities assumed, CEMEX determined goodwill of $5. During the first 6 months of 2020, a subsidiary of CEMEX in Israel acquire d a ready-mix concrete products business from Ashtrom Industries for an amount in shekels equivalent to $33. After the conclusion of the purchase price allocation to the fair values of the assets acquired and liabilities assumed of this business, CEMEX determined goodwill of $2.
5.2) | DISCONTINUED OPERATIONS
On December 29, 2021, through subsidiaries in Colombia and Spain, CEMEX signed an agreement for the sale on a joint-basis-only of its entire operations in Costa Rica and El Salvador with Cementos Progreso Holdings, S.L., for a total consideration of $335 subject to final adjustments. The assets for divestment consist of one cement plant, one grinding station, seven ready-mix plants, one aggregates quarry, as well as one distribution center in Costa Rica and one distribution center in El Salvador. The transaction is subject to satisfaction of closing conditions in Costa Rica and El Salvador, including approvals by competition authorities, CEMEX currently expects to finalize this transaction during the first half of 2022. As of December 31, 2021 the assets and liabilities associated with the operations in Costa Rica and El Salvador 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 operations for the years ended December 31, 2021, 2020 and 2019 are reported in the statements of operations, net of income tax, in the single line item “Discontinued operations.” On July 9, 2021, CEMEX closed the sale agreed with Çimsa Çimento Sanayi Ve Ticaret A.Ş. on March 29, 2019, of its white cement business, except for Mexico and the U.S., for a total consideration of $155, including its Buñol cement plant in Spain and its white cement customer list. As of December 31, 2020 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 period from January 1 to July 9, 2021 and for the years ended December 31, 2020 and 2019 are reported in the statements of operations, net of income tax, in the single line item “Discontinued operations,” including in 2021 a loss on sale of $67 net of the proportional allocation of goodwill of $41. On March 31, 2021, CEMEX closed the sale of 24 concrete plants and one aggregates quarry in France to LafargeHolcim for $44. These assets are located in the Rhone Alpes region in the Southeast of France, east of CEMEX´s Lyon operations, which the company retained. CEMEX’s operations of these assets in France for the three-month period ended on March 31, 2021 and the years ended December 31, 2020 and 2019 are reported in the statements of operations, net of income tax, in the single line item “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, among others. CEMEX’s operations of these assets in the United Kingdom 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 of $47, and the year ended December 31, 2019 are reported in the statements of operations, 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. CEMEX’s operations of these assets in the United States for the period from January 1 to March 6, 2020, including in 2020 a gain on sale of $14 net of the proportional allocation of goodwill of $291, and the year ended December 31, 2019 are reported in the statements of operations, net of income tax, in the single line item “Discontinued operations.” On June 28, 2019, 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 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 assets in Germany for the period from January 1 to May 31, 2019 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 Zement KG for a price in euro equivalent to $387. The Baltic assets divested consisted of one cement production plant in Broceni, 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, 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 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. The following table presents condensed combined information of the statement of financial position for the assets held for sale in 2021 related to the operating segments in Costa Rica and El Salvador and in 2020 related to the white cement business in Spain, as mentioned above:
|  | 2021 |  |  | 2020 |
Current assets |  | $ | 29 |  |  |  | 4 |
Non-current assets |  |  | 48 |  |  |  | 103 |
Total assets of the disposal group |  |  | 77 |  |  |  | 107 |
Current liabilities |  |  | 31 |  |  |  | — |
Non-current liabilities |  |  | 8 |  |  |  | — |
Total liabilities directly related to disposal group |  |  | 39 |  |  |  | — |
Total net assets of disposal group |  | $ | 38 |  |  |  | 107 |
In addition, the following table present s condensed combined information of the statements of operations of CEMEX’s discontinued operations previously mentioned in: a) Costa Rica and El Salvador for the years ended December 31, 2021, 2020 and 2019; b) Spain related to the white cement business for the period from January 1 to July 9, 2021 and for the years ended December 31, 2020 and 2019; c) France related to the Rhone Alpes region for the three-month period ended March 31, 2021 and the years ended December 31, 2020 and 2019; d) the United Kingdom for the period from January 1 to August 3, 2020 and for the year ended December 31, 2019; e) the United States for the period from January 1 to March 6, 2020 and for the year ended December 31, 2019; f) France related to the central region for the period from January 1 to June 28, 2019; g) Germany for the period from January 1 to May 31, 2019; and h) the Baltics and Nordics for the period from January 1 to March 29, 2019.
|  | 2021 |  |  | 2020 |  |  | 2019 |
Revenues |  | $ | 185 |  |  |  | 346 |  |  |  | 744 |
Cost of sales and operating expenses |  |  | (150 | ) |  |  | (308 | ) |  |  | (673 | )
Other income (expenses), net |  |  | (12 | ) |  |  | (18 | ) |  |  | (11 | )
Financial expenses, net and others |  |  | 11 |  |  |  | 9 |  |  |  | (6 | )
Earnings before income tax |  |  | 34 |  |  |  | 29 |  |  |  | 54 |
Income tax |  |  | (40 | ) |  |  | (83 | ) |  |  | (11 | )
Result of discontinued operations |  |  | (6 | ) |  |  | (54 | ) |  |  | 43 |
Net disposal result |  |  | (4 | ) |  |  | (45 | ) |  |  | 55 |
Net result of discontinued operations |  | $ | (10 | ) |  |  | (99 | ) |  |  | 98 |
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 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 TCL’s subsidiaries; 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. As of December 31, 2021 and 2020 and for the years ended December 31, 2021, 2020 and 2019 and the selected financial information by reportable segment and line of business included in the tables below, CEMEX’s reportable segments in Costa Rica and El Salvador, part of the SCA&C region, are presented in the line items of discontinued operations and/or assets held for sale and related liabilities, as correspond, jointly with the other discontinued operations previously described (note 5.2). As of the reporting date, the operating segment in Poland has been separated from the Rest of EMEAA considering its materiality within this region. The tables of financial information by reportable segment and line of business as of December 31, 2020 and for the years 2020 and 2019 were reformulated to consider this new presentation. Selected information of the consolidated statements of operations by reportable segment for the years 2021, 2020 and 2019, excluding the share of profits of equity accounted investees by reportable segment that is included in the note 15.1, was as follows:
2021 |  | 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 |  | $ | 3,466 |  |  |  | (142) |  |  |  | 3,324 |  |  |  | 1,164 |  |  |  | 161 |  |  |  | 1,003 |  |  |  | (43) |  |  |  | (29) |  |  |  | 2 |
United States |  |  | 4,359 |  |  |  | (4) |  |  |  | 4,355 |  |  |  | 778 |  |  |  | 464 |  |  |  | 314 |  |  |  | (127) |  |  |  | (47) |  |  |  | (19) |
EMEAA |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United Kingdom |  |  | 940 |  |  |  | — |  |  |  | 940 |  |  |  | 141 |  |  |  | 69 |  |  |  | 72 |  |  |  | (3) |  |  |  | (8) |  |  |  | (17) |
France |  |  | 863 |  |  |  | — |  |  |  | 863 |  |  |  | 93 |  |  |  | 50 |  |  |  | 43 |  |  |  | (6) |  |  |  | (11) |  |  |  | — |
Germany |  |  | 472 |  |  |  | (43) |  |  |  | 429 |  |  |  | 69 |  |  |  | 28 |  |  |  | 41 |  |  |  | — |  |  |  | (2) |  |  |  | (2) |
Poland |  |  | 405 |  |  |  | (6) |  |  |  | 399 |  |  |  | 73 |  |  |  | 25 |  |  |  | 48 |  |  |  | (4) |  |  |  | (2) |  |  |  | 1 |
Spain |  |  | 359 |  |  |  | (25) |  |  |  | 334 |  |  |  | (6) |  |  |  | 33 |  |  |  | (39) |  |  |  | (331) |  |  |  | (3) |  |  |  | 51 |
Philippines 1 |  |  | 424 |  |  |  | — |  |  |  | 424 |  |  |  | 114 |  |  |  | 40 |  |  |  | 74 |  |  |  | (1) |  |  |  | 17 |  |  |  | (2) |
Israel |  |  | 785 |  |  |  | — |  |  |  | 785 |  |  |  | 114 |  |  |  | 45 |  |  |  | 69 |  |  |  | (1) |  |  |  | (4) |  |  |  | 2 |
Rest of EMEAA |  |  | 618 |  |  |  | (5) |  |  |  | 613 |  |  |  | 87 |  |  |  | 56 |  |  |  | 31 |  |  |  | (110) |  |  |  | (3) |  |  |  | 1 |
SCA&C |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Colombia 2 |  |  | 437 |  |  |  | — |  |  |  | 437 |  |  |  | 87 |  |  |  | 26 |  |  |  | 61 |  |  |  | (19) |  |  |  | (7) |  |  |  | (12) |
Panama 2 |  |  | 121 |  |  |  | (23) |  |  |  | 98 |  |  |  | 31 |  |  |  | 16 |  |  |  | 15 |  |  |  | (2) |  |  |  | — |  |  |  | — |
Caribbean TCL 3 |  |  | 280 |  |  |  | (7) |  |  |  | 273 |  |  |  | 65 |  |  |  | 19 |  |  |  | 46 |  |  |  | (1) |  |  |  | (6) |  |  |  | (6) |
Dominican Republic |  |  | 299 |  |  |  | (8) |  |  |  | 291 |  |  |  | 128 |  |  |  | 7 |  |  |  | 121 |  |  |  | 3 |  |  |  | — |  |  |  | (1) |
Rest of SCA&C 2 |  |  | 465 |  |  |  | (21) |  |  |  | 444 |  |  |  | 110 |  |  |  | 13 |  |  |  | 97 |  |  |  | (5) |  |  |  | (2) |  |  |  | (3) |
Others |  |  | 1,790 |  |  |  | (1,251) |  |  |  | 539 |  |  |  | (187) |  |  |  | 75 |  |  |  | (262) |  |  |  | 534 |  |  |  | (555) |  |  |  | (73) |
Continuing operations |  |  | 16,083 |  |  |  | (1,535) |  |  |  | 14,548 |  |  |  | 2,861 |  |  |  | 1,127 |  |  |  | 1,734 |  |  |  | (116) |  |  |  | (662) |  |  |  | (78) |
Discontinued operations |  |  | 185 |  |  |  | — |  |  |  | 185 |  |  |  | 44 |  |  |  | 9 |  |  |  | 35 |  |  |  | (12) |  |  |  | — |  |  |  | 11 |
Total |  | $ | 16,268 |  |  |  | (1,535) |  |  |  | 14,733 |  |  |  | 2,905 |  |  |  | 1,136 |  |  |  | 1,769 |  |  |  | (128) |  |  |  | (662) |  |  |  | (67) |
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 |  |  | 754 |  |  |  | — |  |  |  | 754 |  |  |  | 71 |  |  |  | 48 |  |  |  | 23 |  |  |  | (1 | ) |  |  | (12 | ) |  |  | 3 |
Germany |  |  | 489 |  |  |  | (37 | ) |  |  | 452 |  |  |  | 67 |  |  |  | 28 |  |  |  | 39 |  |  |  | (3 | ) |  |  | (2 | ) |  |  | (3 | )
Poland |  |  | 377 |  |  |  | (7 | ) |  |  | 370 |  |  |  | 74 |  |  |  | 25 |  |  |  | 49 |  |  |  | (1 | ) |  |  | (2 | ) |  |  | 1 |
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 |  |  | 582 |  |  |  | (9 | ) |  |  | 573 |  |  |  | 75 |  |  |  | 56 |  |  |  | 19 |  |  |  | (26 | ) |  |  | (3 | ) |  |  | (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 |  |  | 393 |  |  |  | (3 | ) |  |  | 390 |  |  |  | 100 |  |  |  | 15 |  |  |  | 85 |  |  |  | (38 | ) |  |  | (2 | ) |  |  | 7 |
Others |  |  | 941 |  |  |  | (470 | ) |  |  | 471 |  |  |  | (237 | ) |  |  | 99 |  |  |  | (336 | ) |  |  | 14 |  |  |  | (645 | ) |  |  | 19 |
Continuing operations |  |  | 13,516 |  |  |  | (702 | ) |  |  | 12,814 |  |  |  | 2,421 |  |  |  | 1,110 |  |  |  | 1,311 |  |  |  | (1,767 | ) |  |  | (777 | ) |  |  | (118 | )
Discontinued operations |  |  | 360 |  |  |  | (14 | ) |  |  | 346 |  |  |  | 53 |  |  |  | 15 |  |  |  | 38 |  |  |  | (18 | ) |  |  | — |  |  |  | 9 |
Total |  | $ | 13,876 |  |  |  | (716 | ) |  |  | 13,160 |  |  |  | 2,474 |  |  |  | 1,125 |  |  |  | 1,349 |  |  |  | (1,785 | ) |  |  | (777 | ) |  |  | (109 | )
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 |  |  | 825 |  |  |  | — |  |  |  | 825 |  |  |  | 89 |  |  |  | 48 |  |  |  | 41 |  |  |  | (5 | ) |  |  | (11 | ) |  |  | 1 |
Germany |  |  | 439 |  |  |  | (25 | ) |  |  | 414 |  |  |  | 65 |  |  |  | 28 |  |  |  | 37 |  |  |  | 3 |  |  |  | (3 | ) |  |  | (4 | )
Poland |  |  | 350 |  |  |  | (2 | ) |  |  | 348 |  |  |  | 56 |  |  |  | 24 |  |  |  | 32 |  |  |  | — |  |  |  | (2 | ) |  |  | — |
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 |  |  | 608 |  |  |  | (12 | ) |  |  | 596 |  |  |  | 74 |  |  |  | 46 |  |  |  | 28 |  |  |  | (7 | ) |  |  | (5 | ) |  |  | 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 |  |  | 383 |  |  |  | (3 | ) |  |  | 380 |  |  |  | 68 |  |  |  | 15 |  |  |  | 53 |  |  |  | (57 | ) |  |  | (3 | ) |  |  | 1 |
Others |  |  | 1,089 |  |  |  | (577 | ) |  |  | 512 |  |  |  | (231 | ) |  |  | 85 |  |  |  | (316 | ) |  |  | (156 | ) |  |  | (567 | ) |  |  | (58 | )
Continuing operations |  |  | 13,735 |  |  |  | (776 | ) |  |  | 12,959 |  |  |  | 2,338 |  |  |  | 1,039 |  |  |  | 1,299 |  |  |  | (334 | ) |  |  | (711 | ) |  |  | (65 | )
Discontinued operations |  |  | 759 |  |  |  | (15 | ) |  |  | 744 |  |  |  | 128 |  |  |  | 57 |  |  |  | 71 |  |  |  | (11 | ) |  |  | — |  |  |  | (6 | )
Total |  | $ | 14,494 |  |  |  | (791 | ) |  |  | 13,703 |  |  |  | 2,466 |  |  |  | 1,096 |  |  |  | 1,370 |  |  |  | (345 | ) |  |  | (711 | ) |  |  | (71 | )
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, 2021 and 2020, there is a non-controlling interest in CHP of 22.16% of its ordinary shares (note 22.4).
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 2021 and 2020, there is a non-controlling interest in CLH of 7.74% and 7.63%, respectively, of its ordinary shares, excluding shares held in CLH’s treasury (note 22.4).
3 | The shares of TCL trade on the Trinidad and Tobago Stock Exchange. As of December 31, 2021 and 2020, there is a non-controlling interest in TCL of 30.17% of its ordinary shares in both years (note 22.4).
Debt by reportable segment is disclosed in note 18.1. As of December 31, 2021 and 2020, selected statement of financial position information by reportable segment was as follows:
2021 |  | Equity accounted investees |  |  | Other segment assets |  |  | Total assets |  |  | Total liabilities |  |  | Net assets by segment |  |  | Additions to fixed assets 1 |
Mexico |  | $ | — |  |  |  | 3,785 |  |  |  | 3,785 |  |  |  | 1,513 |  |  |  | 2,272 |  |  |  | 190 |
United States |  |  | 159 |  |  |  | 12,651 |  |  |  | 12,810 |  |  |  | 2,707 |  |  |  | 10,103 |  |  |  | 373 |
EMEAA |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United Kingdom |  |  | 6 |  |  |  | 1,585 |  |  |  | 1,591 |  |  |  | 1,220 |  |  |  | 371 |  |  |  | 94 |
France |  |  | 41 |  |  |  | 952 |  |  |  | 993 |  |  |  | 476 |  |  |  | 517 |  |  |  | 44 |
Germany |  |  | 3 |  |  |  | 398 |  |  |  | 401 |  |  |  | 287 |  |  |  | 114 |  |  |  | 29 |
Poland |  |  | 1 |  |  |  | 321 |  |  |  | 322 |  |  |  | 126 |  |  |  | 196 |  |  |  | 29 |
Spain |  |  | — |  |  |  | 704 |  |  |  | 704 |  |  |  | 240 |  |  |  | 464 |  |  |  | 34 |
Philippines |  |  | — |  |  |  | 777 |  |  |  | 777 |  |  |  | 153 |  |  |  | 624 |  |  |  | 89 |
Israel |  |  | — |  |  |  | 776 |  |  |  | 776 |  |  |  | 526 |  |  |  | 250 |  |  |  | 45 |
Rest of EMEAA |  |  | 9 |  |  |  | 798 |  |  |  | 807 |  |  |  | 287 |  |  |  | 520 |  |  |  | 66 |
SCA&C |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Colombia |  |  | — |  |  |  | 962 |  |  |  | 962 |  |  |  | 477 |  |  |  | 485 |  |  |  | 27 |
Panama |  |  | — |  |  |  | 282 |  |  |  | 282 |  |  |  | 88 |  |  |  | 194 |  |  |  | 9 |
Caribbean TCL |  |  | — |  |  |  | 498 |  |  |  | 498 |  |  |  | 219 |  |  |  | 279 |  |  |  | 22 |
Dominican Republic |  |  | — |  |  |  | 192 |  |  |  | 192 |  |  |  | 87 |  |  |  | 105 |  |  |  | 15 |
Rest of SCA&C |  |  | — |  |  |  | 262 |  |  |  | 262 |  |  |  | 173 |  |  |  | 89 |  |  |  | 15 |
Others |  |  | 316 |  |  |  | 1,031 |  |  |  | 1,347 |  |  |  | 7,761 |  |  |  | (6,414 | ) |  |  | 13 |
Total |  |  | 535 |  |  |  | 25,974 |  |  |  | 26,509 |  |  |  | 16,340 |  |  |  | 10,169 |  |  |  | 1,094 |
Assets held for sale and related liabilities (note 14.1) |  |  | — |  |  |  | 141 |  |  |  | 141 |  |  |  | 39 |  |  |  | 102 |  |  |  | 5 |
Total consolidated |  | $ | 535 |  |  |  | 26,115 |  |  |  | 26,650 |  |  |  | 16,379 |  |  |  | 10,271 |  |  |  | 1,099 |
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 |
Poland |  |  | 1 |  |  |  | 319 |  |  |  | 320 |  |  |  | 134 |  |  |  | 186 |  |  |  | 19 |
Spain |  |  | — |  |  |  | 1,023 |  |  |  | 1,023 |  |  |  | 230 |  |  |  | 793 |  |  |  | 22 |
Philippines |  |  | — |  |  |  | 761 |  |  |  | 761 |  |  |  | 158 |  |  |  | 603 |  |  |  | 82 |
Israel |  |  | — |  |  |  | 769 |  |  |  | 769 |  |  |  | 507 |  |  |  | 262 |  |  |  | 28 |
Rest of EMEAA |  |  | 8 |  |  |  | 853 |  |  |  | 861 |  |  |  | 283 |  |  |  | 578 |  |  |  | 32 |
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 14.1) |  |  | — |  |  |  | 187 |  |  |  | 187 |  |  |  | 6 |  |  |  | 181 |  |  |  | — |
Total consolidated |  | $ | 510 |  |  |  | 26,915 |  |  |  | 27,425 |  |  |  | 18,473 |  |  |  | 8,952 |  |  |  | 795 |
1 | In 2021 and 2020, 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 $1,099 and $795, respectively (note 16).
As of the reporting date, the Urbanization Solutions line of business, comprising complementary solutions to solve urban needs such as admixtures for decoration, building, landscaping and renovation purposes as well as variety of mortars and water-repelling and water-retaining agents and stabilizers, among others, was separated from “Others” considering its materiality for CEMEX’s management. The tables of revenues by line of business for the years 2020 and 2019 were reformulated to consider this new presentation. Revenues by line of business and reportable segment for the years ended December 31, 2021, 2020 and 2019 were as follows:
2021 |  | Cement |  |  | Concrete |  |  | Aggregates |  |  | Urbanization solutions |  |  | Others |  |  | Eliminations |  |  | Revenues |
Mexico |  | $ | 2,412 |  |  |  | 733 |  |  |  | 208 |  |  |  | 810 |  |  |  | 14 |  |  |  | (853 | ) |  |  | 3,324 |
United States |  |  | 1,731 |  |  |  | 2,479 |  |  |  | 1,005 |  |  |  | 558 |  |  |  | 13 |  |  |  | (1,431 | ) |  |  | 4,355 |
EMEAA |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United Kingdom |  |  | 270 |  |  |  | 311 |  |  |  | 377 |  |  |  | 200 |  |  |  | 53 |  |  |  | (271 | ) |  |  | 940 |
France |  |  | — |  |  |  | 682 |  |  |  | 397 |  |  |  | 6 |  |  |  | — |  |  |  | (222 | ) |  |  | 863 |
Germany |  |  | 210 |  |  |  | 204 |  |  |  | 65 |  |  |  | 30 |  |  |  | 69 |  |  |  | (149 | ) |  |  | 429 |
Poland |  |  | 272 |  |  |  | 154 |  |  |  | 38 |  |  |  | 6 |  |  |  | 1 |  |  |  | (72 | ) |  |  | 399 |
Spain |  |  | 256 |  |  |  | 93 |  |  |  | 31 |  |  |  | 23 |  |  |  | — |  |  |  | (69 | ) |  |  | 334 |
Philippines |  |  | 423 |  |  |  | — |  |  |  | — |  |  |  | 4 |  |  |  | 1 |  |  |  | (4 | ) |  |  | 424 |
Israel |  |  | — |  |  |  | 657 |  |  |  | 199 |  |  |  | 89 |  |  |  | 27 |  |  |  | (187 | ) |  |  | 785 |
Rest of EMEAA |  |  | 423 |  |  |  | 232 |  |  |  | 47 |  |  |  | 14 |  |  |  | 21 |  |  |  | (124 | ) |  |  | 613 |
SCA&C |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Colombia |  |  | 309 |  |  |  | 130 |  |  |  | 36 |  |  |  | 58 |  |  |  | 21 |  |  |  | (117 | ) |  |  | 437 |
Panama |  |  | 103 |  |  |  | 16 |  |  |  | 5 |  |  |  | 7 |  |  |  | 1 |  |  |  | (34 | ) |  |  | 98 |
Caribbean TCL |  |  | 271 |  |  |  | 5 |  |  |  | 7 |  |  |  | 4 |  |  |  | 6 |  |  |  | (20 | ) |  |  | 273 |
Dominican Republic |  |  | 240 |  |  |  | 16 |  |  |  | — |  |  |  | 44 |  |  |  | 8 |  |  |  | (17 | ) |  |  | 291 |
Rest of SCA&C |  |  | 400 |  |  |  | 20 |  |  |  | 6 |  |  |  | 24 |  |  |  | 1 |  |  |  | (7 | ) |  |  | 444 |
Others |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,790 |  |  |  | (1,251 | ) |  |  | 539 |
Continuing operations |  |  | 7,320 |  |  |  | 5,732 |  |  |  | 2,421 |  |  |  | 1,877 |  |  |  | 2,026 |  |  |  | (4,828 | ) |  |  | 14,548 |
Discontinued operations |  |  | 156 |  |  |  | 23 |  |  |  | 7 |  |  |  | 3 |  |  |  | 3 |  |  |  | (7 | ) |  |  | 185 |
Total |  | $ | 7,476 |  |  |  | 5,755 |  |  |  | 2,428 |  |  |  | 1,880 |  |  |  | 2,029 |  |  |  | (4,835 | ) |  |  | 14,733 |
2020 |  | Cement |  |  | Concrete |  |  | Aggregates |  |  | Urbanization solutions |  |  | Others |  |  | Eliminations |  |  | Revenues |
Mexico |  | $ | 2,001 |  |  |  | 628 |  |  |  | 172 |  |  |  | 590 |  |  |  | 14 |  |  |  | (727 | ) |  |  | 2,678 |
United States |  |  | 1,599 |  |  |  | 2,255 |  |  |  | 954 |  |  |  | 468 |  |  |  | 13 |  |  |  | (1,296 | ) |  |  | 3,993 |
EMEAA |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United Kingdom |  |  | 201 |  |  |  | 274 |  |  |  | 314 |  |  |  | 176 |  |  |  | 53 |  |  |  | (279 | ) |  |  | 739 |
France |  |  | — |  |  |  | 647 |  |  |  | 340 |  |  |  | — |  |  |  | — |  |  |  | (233 | ) |  |  | 754 |
Germany |  |  | 210 |  |  |  | 202 |  |  |  | 69 |  |  |  | 31 |  |  |  | 69 |  |  |  | (129 | ) |  |  | 452 |
Poland |  |  | 244 |  |  |  | 142 |  |  |  | 39 |  |  |  | 6 |  |  |  | 1 |  |  |  | (62 | ) |  |  | 370 |
Spain |  |  | 233 |  |  |  | 83 |  |  |  | 24 |  |  |  | 18 |  |  |  | — |  |  |  | (55 | ) |  |  | 303 |
Philippines |  |  | 398 |  |  |  | — |  |  |  | — |  |  |  | 2 |  |  |  | 1 |  |  |  | (3 | ) |  |  | 398 |
Israel |  |  | — |  |  |  | 623 |  |  |  | 195 |  |  |  | 81 |  |  |  | 27 |  |  |  | (172 | ) |  |  | 754 |
Rest of EMEAA |  |  | 400 |  |  |  | 220 |  |  |  | 42 |  |  |  | 11 |  |  |  | 21 |  |  |  | (121 | ) |  |  | 573 |
SCA&C |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Colombia |  |  | 294 |  |  |  | 119 |  |  |  | 34 |  |  |  | 44 |  |  |  | 21 |  |  |  | (108 | ) |  |  | 404 |
Panama |  |  | 67 |  |  |  | 14 |  |  |  | 4 |  |  |  | 4 |  |  |  | 1 |  |  |  | (17 | ) |  |  | 73 |
Caribbean TCL |  |  | 245 |  |  |  | 5 |  |  |  | 7 |  |  |  | 2 |  |  |  | 6 |  |  |  | (21 | ) |  |  | 244 |
Dominican Republic |  |  | 185 |  |  |  | 15 |  |  |  | 5 |  |  |  | 31 |  |  |  | 8 |  |  |  | (26 | ) |  |  | 218 |
Rest of SCA&C |  |  | 359 |  |  |  | 3 |  |  |  | 6 |  |  |  | 19 |  |  |  | 1 |  |  |  | 2 |  |  |  | 390 |
Others |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 947 |  |  |  | (476 | ) |  |  | 471 |
Continuing operations |  |  | 6,436 |  |  |  | 5,230 |  |  |  | 2,205 |  |  |  | 1,483 |  |  |  | 1,183 |  |  |  | (3,723 | ) |  |  | 12,814 |
Discontinued operations |  |  | 167 |  |  |  | 90 |  |  |  | 77 |  |  |  | 3 |  |  |  | 56 |  |  |  | (47 | ) |  |  | 346 |
Total |  | $ | 6,603 |  |  |  | 5,320 |  |  |  | 2,282 |  |  |  | 1,486 |  |  |  | 1,239 |  |  |  | (3,770 | ) |  |  | 13,160 |
2019 |  | Cement |  |  | Concrete |  |  | Aggregates |  |  | Urbanization solutions |  |  | Others |  |  | Eliminations |  |  | Revenues |
Mexico |  | $ | 2,009 |  |  |  | 798 |  |  |  | 196 |  |  |  | 542 |  |  |  | 76 |  |  |  | (829 | ) |  |  | 2,792 |
United States |  |  | 1,608 |  |  |  | 2,189 |  |  |  | 917 |  |  |  | 437 |  |  |  | 15 |  |  |  | (1,386 | ) |  |  | 3,780 |
EMEAA |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United Kingdom |  |  | 227 |  |  |  | 310 |  |  |  | 290 |  |  |  | 141 |  |  |  | 126 |  |  |  | (345 | ) |  |  | 749 |
France |  |  | — |  |  |  | 720 |  |  |  | 355 |  |  |  | — |  |  |  | 20 |  |  |  | (270 | ) |  |  | 825 |
Germany |  |  | 192 |  |  |  | 184 |  |  |  | 62 |  |  |  | 29 |  |  |  | 93 |  |  |  | (146 | ) |  |  | 414 |
Poland |  |  | 209 |  |  |  | 141 |  |  |  | 43 |  |  |  | 5 |  |  |  | 7 |  |  |  | (57 | ) |  |  | 348 |
Spain |  |  | 228 |  |  |  | 86 |  |  |  | 23 |  |  |  | 20 |  |  |  | 4 |  |  |  | (67 | ) |  |  | 294 |
Philippines |  |  | 457 |  |  |  | — |  |  |  | — |  |  |  | 2 |  |  |  | 1 |  |  |  | (2 | ) |  |  | 458 |
Israel |  |  | — |  |  |  | 554 |  |  |  | 166 |  |  |  | 59 |  |  |  | 43 |  |  |  | (162 | ) |  |  | 660 |
Rest of EMEAA |  |  | 400 |  |  |  | 237 |  |  |  | 47 |  |  |  | 10 |  |  |  | 14 |  |  |  | (112 | ) |  |  | 596 |
SCA&C |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Colombia |  |  | 363 |  |  |  | 176 |  |  |  | 53 |  |  |  | 43 |  |  |  | 25 |  |  |  | (156 | ) |  |  | 504 |
Panama |  |  | 141 |  |  |  | 49 |  |  |  | 15 |  |  |  | 13 |  |  |  | 2 |  |  |  | (41 | ) |  |  | 179 |
Caribbean TCL |  |  | 241 |  |  |  | 9 |  |  |  | 5 |  |  |  | — |  |  |  | 12 |  |  |  | (27 | ) |  |  | 240 |
Dominican Republic |  |  | 194 |  |  |  | 27 |  |  |  | 8 |  |  |  | 24 |  |  |  | 10 |  |  |  | (35 | ) |  |  | 228 |
Rest of SCA&C |  |  | 329 |  |  |  | 36 |  |  |  | 8 |  |  |  | 16 |  |  |  | 2 |  |  |  | (11 | ) |  |  | 380 |
Others |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1 | ) |  |  | 1,091 |  |  |  | (578 | ) |  |  | 512 |
Continuing operations |  |  | 6,598 |  |  |  | 5,516 |  |  |  | 2,188 |  |  |  | 1,340 |  |  |  | 1,541 |  |  |  | (4,224 | ) |  |  | 12,959 |
Discontinued operations |  |  | 348 |  |  |  | 157 |  |  |  | 174 |  |  |  | 2 |  |  |  | 89 |  |  |  | (26 | ) |  |  | 744 |
Total |  | $ | 6,946 |  |  |  | 5,673 |  |  |  | 2,362 |  |  |  | 1,342 |  |  |  | 1,630 |  |  |  | (4,250 | ) |  |  | 13,703 |

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