Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021

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, 2021, 2020 and 2019, were as follows:


	2021				2020				2019
Currency	Closing		Average		Closing		Average		Closing		Average
Mexican peso		20.5000		20.4266		19.8900		21.5766		18.9200		19.3500
Euro		0.8789		0.8467		0.8183		0.8736		0.8917		0.8941
British Pound Sterling		0.7395		0.7262		0.7313		0.7758		0.7550		0.7831
Colombian Peso		3,981		3,783		3,433		3,730		3,277		3,300

Summary of Maximum Average Useful Lives of Fixed Assets

As of December 31, 2021, the average useful lives by category of fixed assets, which are reviewed at each reporting date, were as follows:


	Years
Administrative buildings		29
Industrial buildings		26
Machinery and equipment in plant		16
Ready-mix trucks and motor vehicles		9
Office equipment and other assets		6

Summary of Statutory Tax Rates

For the years ended December 31, 2021, 2020 and 2019, the statutory tax rates in CEMEX’s main operations were as follows:


Country	2021	2020	2019

Mexico	30.0%	30.0%	30.0%
United States	21.0%	21.0%	21.0%
United Kingdom	19.0%	19.0%	19.3%
France	28.4%	32.0%	34.4%
Germany	28.2%	28.2%	28.2%
Spain	25.0%	25.0%	25.0%
Philippines	25.0%	30.0%	30.0%
Israel	23.0%	23.0%	23.0%
Colombia	31.0%	32.0%	33.0%
Others	5.5% – 30.0%	9.0% – 30.0%	7.8% – 35.0%