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Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of reconciliation of controlling interest due to different currencies

As of

December 31, 2022, the

line-by-line

reconciliation between CEMEX’s controlling interest, as reported using the Dollar as presentation currency, and the Parent Company’s stockholders’ equity, using a convenience translation of the balances in Pesos translated using the exchange rate of 19.50 Pesos per Dollar as of December 31, 2022, is as follows:


	As of December 31, 2022
	Consolidated			Parent Company
Common stock and additional paid-in capital 1	$	7,810			5,414
Other equity reserves 1, 2		(1,555	)		1,687
Retained earnings 2		4,246			3,400

Total controlling interest	$	10,501			10,501

The difference relates to the method of accruing Dollars using the historical exchange rates to translate each common stock and additional

paid-in

capital transaction denominated in Pesos to Dollars. The cumulative effect from these changes in exchange rates is recognized against other equity reserves.

2	The difference relates with the method of accruing Dollars using the exchange rates of each month during the period for income statement purposes. The cumulative effect from these changes in exchange rates is recognized against other equity reserves.

Summary of Breakdown of Common Stock and Additional Paid-in Capital

As of December 31, 2022 and 2021, the breakdown of consolidated common stock and additional

paid-in

capital was as follows:


	2022		2021
Common stock	$	318		318
Additional paid-in capital		7,492		7,492

	$	7,810		7,810

Summary of Common Stock

As of December 31, 2022 and 2021 the common stock of CEMEX, S.A.B. de C.V. was presented as follows:


	2022				2021
Shares 1	Series A 2		Series B 2		Series A 2		Series B 2
Subscribed and paid shares		29,016,656,496		14,508,328,248		29,457,941,452		14,728,970,726
Unissued shares authorized for executives’ stock compensation programs		881,442,830		440,721,415		881,442,830		440,721,415
Repurchased shares 3		441,284,956		220,642,478		—		—

		30,339,384,282		15,169,692,141		30,339,384,282		15,169,692,141

1	As of December 31, 2022 and 2021, 13,068,000,000 shares correspond to the fixed portion, and 32,441,076,423 shares as of December 31, 2022 and 2021, correspond to the variable portion.

2	Series “A” or Mexican shares must represent at least 64% of CEMEX’s capital stock; Series “B” or free subscription shares must represent at most 36% of CEMEX’s capital stock.

3	Shares repurchased under the share repurchase program authorized by the Company’s shareholders (note 21.2).

Summary of other Equity Reserves and Subordinated Notes

As of December 31, 2022 and 2021, the caption of other equity reserves and subordinated notes was integrated as follows:


	2022			2021
Other equity reserves	$	(2,549	)		(2,365	)
Subordinated notes		994			994

	$	(1,555	)		(1,371	)

Summary of Other Equity Reserves

As of December 31, 2022 and 2021, other equity reserves are detailed as follows:


	2022			2021
Cumulative translation effect, net of effects from deferred income taxes recognized directly in equity (note 20.2) and derivative financial instruments designated as cash flow hedges	$	(926	)		(722	)
Cumulative actuarial losses		(353	)		(529	)
Cumulative coupon payments under perpetual debentures (note 21.4)		(1,070	)		(1,070	)
Treasury shares repurchased under share repurchase program (note 21.1)		(111	)		—
Cumulative coupon payments under subordinated notes 1		(84	)		(30	)
Treasury shares held by subsidiaries		(5	)		(14	)

	$	(2,549	)		(2,365	)

1	Interest accrued under the Parent Company’s subordinated notes described below are recognized as part of other equity reserves.

Summary of Translation Effects of Foreign Subsidiaries Included in Statements of Comprehensive Income (Loss)

For the years ended December 31, 2022, 2021 and 2020, the translation effects of foreign subsidiaries included in the statements of comprehensive income were as follows:


	2022			2021			2020
Foreign currency translation result 1	$	(235	)		(389	)		352
Foreign exchange fluctuations from debt 2		(23	)		89			(126	)
Foreign exchange fluctuations from intercompany balances 3		(68	)		(13	)		(419	)

	$	(326	)		(313	)		(193	)

1	These effects refer to the result from the translation of the financial statements of foreign subsidiaries and include the changes in fair value of foreign exchange forward contracts designated as hedge of a net investment (note 17.4).

2	Generated by foreign exchange fluctuations over a notional amount of debt in CEMEX, S.A.B. de C.V., associated with the acquisition of foreign subsidiaries and designated as a hedge of the net investment in foreign subsidiaries (note 2.4).

Refers to foreign exchange fluctuations arising from balances with related parties in foreign currencies that are of a long-term investment nature considering that their liquidation is not anticipated in the foreseeable future and foreign exchange fluctuations over a notional amount of debt of a subsidiary of CEMEX España identified and designated as a hedge of the net investment in foreign subsidiaries.