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Investments In Associates And Joint Ventures, Other Investments And Non-Current Accounts Receivable (Tables) | 12 Months Ended
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Dec. 31, 2023
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Summary of Main Investments in Common Shares of Associates | As of December 31, 2023 and 2022, the investments in common shares of associates and joint ventures, which are accounted under the equity method, were as follows:
Associates |  | Activity |  |  | Country |  |  | % |  |  |  |  |  | 2023 |  |  | 2022 |
Camcem, S.A. de C.V. |  |  | Cement |  |  |  | Mexico |  |  |  | 40.1 |  |  | $ |  |  |  |  | 364 |  |  |  | 306 |
Concrete Supply Co. LLC |  |  | Concrete |  |  |  | United States |  |  |  | 40.0 |  |  |  |  |  |  |  | 103 |  |  |  | 96 |
Lehigh White Cement Company |  |  | Cement |  |  |  | United States |  |  |  | 36.8 |  |  |  |  |  |  |  | 83 |  |  |  | 76 |
Neoris N.V. 1 |  |  | Technology |  |  |  | The Netherlands |  |  |  | 34.8 |  |  |  |  |  |  |  | 69 |  |  |  | 62 |
Joint ventures |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Société d’Exploitation de Carrières |  |  | Aggregates |  |  |  | France |  |  |  | 50.0 |  |  |  |  |  |  |  | 24 |  |  |  | 23 |
Société Méridionale de Carrières |  |  | Aggregates |  |  |  | France |  |  |  | 33.3 |  |  |  |  |  |  |  | 13 |  |  |  | 12 |
Other companies |  |  | — |  |  |  | — |  |  |  | — |  |  |  |  |  |  |  | 73 |  |  |  | 65 |
|  |  |  |  |  |  |  |  |  |  |  |  |  | $ |  |  |  |  | 729 |  |  |  | 640 |
Out of which: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Acquisition cost |  |  | $ |  |  |  |  | 330 |  |  |  | 302 |
Equity method recognition |  |  |  |  |  |  |  | 399 |  |  |  | 338 |
1 | In connection with the sale of Cemex’s 65% stake in Neoris to Advent described in note 4.2, Cemex’s remaining equity interest in Neoris was remeasured at fair value at the date of loss of control, measured prospectively under the equity method and is presented in the line item of investments in associates and joint ventures.
Summary of Combined Condensed Statement of Financial Position | Combined condensed statement of financial position information of associates and joint ventures as of December 31, 2023 and 2022 is set forth below:
|  |  |  |  | 2023 |  |  | 2022 |
Current assets |  | $ |  |  |  |  | 1,761 |  |  |  | 1,603 |
Non-current assets |  |  |  |  |  |  | 1,877 |  |  |  | 1,699 |
Total assets |  |  |  |  |  |  | 3,638 |  |  |  | 3,302 |
Current liabilities |  |  |  |  |  |  | 468 |  |  |  | 468 |
Non-current liabilities |  |  |  |  |  |  | 850 |  |  |  | 774 |
Total liabilities |  |  |  |  |  |  | 1,318 |  |  |  | 1,242 |
Total net assets |  | $ |  |  |  |  | 2,320 |  |  |  | 2,060 |
Summary of Combined Selected Information of the Statements of Income | Combined selected information of the statements of income of associates and joint ventures in 2023, 2022 and 2021 is set forth below:
|  |  |  |  | 2023 |  |  | 2022 |  |  | 2021 |
Revenues |  | $ |  |  |  |  | 2,410 |  |  |  | 2,319 |  |  |  | 1,801 |
Operating earnings |  |  |  |  |  |  | 535 |  |  |  | 398 |  |  |  | 312 |
Income before income tax |  |  |  |  |  |  | 394 |  |  |  | 268 |  |  |  | 219 |
Net income |  |  |  |  |  |  | 268 |  |  |  | 186 |  |  |  | 153 |
Summary of Share of Profit of Associates and Joint Ventures by Reportable Segment | The share of associates and joint ventures by reportable segment in the statements of income for 2023, 2022 and 2021 are detailed as follows:
|  |  |  |  | 2023 |  |  | 2022 |  |  | 2021 |
Mexico |  | $ |  |  |  |  | 65 |  |  |  | 39 |  |  |  | 28 |
United States |  |  |  |  |  |  | 21 |  |  |  | 17 |  |  |  | 18 |
EMEAA |  |  |  |  |  |  | 10 |  |  |  | 8 |  |  |  | 8 |
Corporate and others |  |  |  |  |  |  | 2 |  |  |  | (34 | ) |  |  | – |
|  | $ |  |  |  |  | 98 |  |  |  | 30 |  |  |  | 54 |
Summary of Other Investments and Non-current Accounts Receivable | As of December 31, 2023 and 2022, consolidated other investments and non-current accounts receivable were summarized as follows:
|  |  |  |  | 2023 |  |  | 2022 |
Non-current accounts receivable 1 |  | $ |  |  |  |  | 272 |  |  |  | 228 |
Non-current portion of assets from valuation of derivative financial instruments (note 17.4) |  |  |  |  |  |  | 64 |  |  |  | 57 |
Investments in strategic equity securities |  |  |  |  |  |  | 3 |  |  |  | 5 |
Investments at fair value through the statements of income |  |  |  |  |  |  | 1 |  |  |  | 3 |
|  | $ |  |  |  |  | 340 |  |  |  | 293 |
1 | Includes, among other items: a) accounts receivable from investees and joint ventures of $78 in 2023 and $33 in 2022, b) advances to suppliers of fixed assets of $41 in 2023 and $58 in 2022, c) employee prepaid compensation of $8 in 2023 and $12 in 2022, and d) warranty deposits of $24 in 2023 and $21 in 2022.

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