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Other Current and Non-current Liabilities (Tables) | 12 Months Ended
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Dec. 31, 2023
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Summary of Other Current Liabilities | As of December 31, 2023 and 2022, consolidated other current liabilities were as follows:
|  |  |  |  | 2023 |  |  | 2022 |
Other accounts payable and accrued expenses 1 |  | $ |  |  |  |  | 656 |  |  |  | 560 |
Provisions 2 |  |  |  |  |  |  | 492 |  |  |  | 276 |
Contract liabilities with customers (note 3) 3 |  |  |  |  |  |  | 384 |  |  |  | 293 |
Interest payable |  |  |  |  |  |  | 88 |  |  |  | 96 |
|  | $ |  |  |  |  | 1,620 |  |  |  | 1,225 |
1 | Other accounts payable and accrued expenses mainly refer to accrued fixed and variable employee benefits, insurance payments and accruals for public services. These amounts are revolving in nature and are expected to be settled and replaced by similar amounts within the next 12 months.
2 | Current provisions are detailed by concept in note 18.2 below.
3 | As of December 31, 2023 and 2022, contract liabilities with customers included $339 and $253, respectively, of advances received from customers, as well as in 2023 and 2022 the current portion of deferred revenues in connection with advances under long-term clinker supply agreements of $5 in both years. Note 3 includes the changes during the period of this caption.
Summary of Other Non-current Liabilities | As of December 31, 2023 and 2022, consolidated other non-current liabilities were as follows:
|  |  |  |  | 2023 |  |  | 2022 |
Asset retirement obligations 1 |  | $ |  |  |  |  | 470 |  |  |  | 465 |
Environmental liabilities 2 |  |  |  |  |  |  | 250 |  |  |  | 233 |
Accruals for legal assessments and other responsibilities 3 |  |  |  |  |  |  | 100 |  |  |  | 83 |
Non-current liabilities for valuation of derivative instruments |  |  |  |  |  |  | 15 |  |  |  | 2 |
Other non-current liabilities and provisions 4 |  |  |  |  |  |  | 329 |  |  |  | 282 |
|  | $ |  |  |  |  | 1,164 |  |  |  | 1,065 |
1 | Provisions for asset retirement include future estimated costs for demolition, cleaning and reforestation of production sites at the end of their operation, which are initially recognized against the related assets and are depreciated over their estimated useful life.
2 | Environmental liabilities include future estimated costs arising from legal or constructive obligations, related to cleaning, reforestation and other remedial actions to remediate damage caused to the environment. The expected average period to settle these obligations is greater than 15 years.
3 | Provisions for legal claims and other responsibilities include items related to tax contingencies.
4 | As of December 31, 2023 and 2022, the balance includes deferred revenues of $22 and $27, respectively, that are amortized to the statement of income as deliverables are fulfilled over the maturity of long-term clinker supply agreements.
Summary of Changes in Consolidated Other Current and Non-Current Liabilities | Changes in consolidated non-current other liabilities plus current provisions for the years 2023 and 2022, were as follows:
|  |  |  |  | 2023 |
|  |  |  |  | Asset retirement obligations |  |  | Environmental liabilities |  |  | Accruals for legal proceedings |  |  | Valuation of derivative instruments |  |  | Other liabilities and provisions |  |  | Total |  |  | 2022 |
Balance at beginning of period |  | $ |  |  |  |  | 509 |  |  |  | 276 |  |  |  | 85 |  |  |  | 50 |  |  |  | 421 |  |  |  | 1,341 |  |  |  | 1,539 |
Additions or increase in estimates |  |  |  |  |  |  | 64 |  |  |  | 11 |  |  |  | 49 |  |  |  | 169 |  |  |  | 239 |  |  |  | 532 |  |  |  | 270 |
Releases or decrease in estimates |  |  |  |  |  |  | (58 | ) |  |  | (15 | ) |  |  | (34 | ) |  |  | (123 | ) |  |  | (84 | ) |  |  | (314 | ) |  |  | (486 | )
Business combinations |  |  |  |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | 6 |
Accretion expense |  |  |  |  |  |  | 30 |  |  |  | – |  |  |  | 1 |  |  |  | – |  |  |  | 11 |  |  |  | 42 |  |  |  | 32 |
Foreign currency translation |  |  |  |  |  |  | 28 |  |  |  | 7 |  |  |  | 4 |  |  |  | (1 | ) |  |  | 17 |  |  |  | 55 |  |  |  | (20 | )
Balance at end of period |  | $ |  |  |  |  | 573 |  |  |  | 279 |  |  |  | 105 |  |  |  | 95 |  |  |  | 604 |  |  |  | 1,656 |  |  |  | 1,341 |
Out of which: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current provisions |  | $ |  |  |  |  | 103 |  |  |  | 29 |  |  |  | 5 |  |  |  | 80 |  |  |  | 275 |  |  |  | 492 |  |  |  | 276 |
Other non-current liabilities |  |  |  |  |  |  | 470 |  |  |  | 250 |  |  |  | 100 |  |  |  | 15 |  |  |  | 329 |  |  |  | 1,164 |  |  |  | 1,065 |

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