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Property, Machinery and Equipment, Net and Assets For The Right-Of-Use, Net (Tables) | 12 Months Ended
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Dec. 31, 2023
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Detailed Information About In Property Plant Equipment Right Of Use Assets | As of December 31, 2023 and 2022, property, machinery and equipment, net and assets for the right-of-use, net were summarized as follows:
|  |  |  |  | 2023 |  |  | 2022 |
Property, machinery and equipment, net |  | $ |  |  |  |  | 11,272 |  |  |  | 10,156 |
Assets for the right-of-use, net |  |  |  |  |  |  | 1,194 |  |  |  | 1,128 |
|  | $ |  |  |  |  | 12,466 |  |  |  | 11,284 |
Summary of Average Useful Lives by Category of Fixed Assets | As of December 31, 2023, the average useful lives by category of fixed assets, which are reviewed at each reporting date, were as follows:
|  | Years
Administrative buildings |  | 30
Industrial buildings |  | 25
Machinery and equipment in plant |  | 16
Ready-mix trucks and motor vehicles |  | 11
Office equipment and other assets |  | 7
Disclosure of Net Change in Property, Machinery and Equipment | As of December 31, 2023 and 2022, consolidated property, machinery and equipment, net and the changes in this line item during 2023 and 2022, were as follows:
|  |  |  |  | 2023 |
|  |  |  |  | Land and mineral reserves |  |  | Building |  |  | Machinery and equipment |  |  | Construction in progress 2 |  |  | Total |
Cost at beginning of period |  | $ |  |  |  |  | 4,843 |  |  |  | 2,342 |  |  |  | 11,663 |  |  |  | 1,668 |  |  |  | 20,516 |
Accumulated depreciation and depletion |  |  |  |  |  |  | (1,337) |  |  |  | (1,513) |  |  |  | (7,510) |  |  |  | – |  |  |  | (10,360) |
Net book value at beginning of period |  |  |  |  |  |  | 3,506 |  |  |  | 829 |  |  |  | 4,153 |  |  |  | 1,668 |  |  |  | 10,156 |
Capital expenditures |  |  |  |  |  |  | 33 |  |  |  | 86 |  |  |  | 720 |  |  |  | 200 |  |  |  | 1,039 |
Stripping costs 1 |  |  |  |  |  |  | 37 |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | 37 |
Total capital expenditures |  |  |  |  |  |  | 70 |  |  |  | 86 |  |  |  | 720 |  |  |  | 200 |  |  |  | 1,076 |
Disposals 3 |  |  |  |  |  |  | (31) |  |  |  | (2) |  |  |  | (75) |  |  |  | – |  |  |  | (108) |
Business combinations (note 4.1) |  |  |  |  |  |  | 13 |  |  |  | 4 |  |  |  | 22 |  |  |  | – |  |  |  | 39 |
Depreciation and depletion for the period |  |  |  |  |  |  | (141) |  |  |  | (80) |  |  |  | (653) |  |  |  | – |  |  |  | (874) |
Impairment losses (note 7) |  |  |  |  |  |  | (16) |  |  |  | (2) |  |  |  | (18) |  |  |  | – |  |  |  | (36) |
Asset retirement obligations (note 18.2) |  |  |  |  |  |  | – |  |  |  | 20 |  |  |  | 44 |  |  |  | – |  |  |  | 64 |
Foreign currency translation effects |  |  |  |  |  |  | 399 |  |  |  | 124 |  |  |  | 369 |  |  |  | 63 |  |  |  | 955 |
Cost at end of period |  |  |  |  |  |  | 5,295 |  |  |  | 2,636 |  |  |  | 12,702 |  |  |  | 1,931 |  |  |  | 22,564 |
Accumulated depreciation and depletion |  |  |  |  |  |  | (1,495) |  |  |  | (1,657) |  |  |  | (8,140) |  |  |  | – |  |  |  | (11,292) |
Net book value at end of period |  | $ |  |  |  |  | 3,800 |  |  |  | 979 |  |  |  | 4,562 |  |  |  | 1,931 |  |  |  | 11,272 |
|  |  |  |  | 2022 |
|  |  |  |  | Land and mineral reserves |  |  | Building |  |  | Machinery and equipment |  |  | Construction in progress 2 |  |  | Total |
Cost at beginning of period |  | $ |  |  |  |  | 4,801 |  |  |  | 2,532 |  |  |  | 11,727 |  |  |  | 1,262 |  |  |  | 20,322 |
Accumulated depreciation and depletion |  |  |  |  |  |  | (1,226 | ) |  |  | (1,494 | ) |  |  | (7,400 | ) |  |  | – |  |  |  | (10,120) |
Net book value at beginning of period |  |  |  |  |  |  | 3,575 |  |  |  | 1,038 |  |  |  | 4,327 |  |  |  | 1,262 |  |  |  | 10,202 |
Capital expenditures |  |  |  |  |  |  | 126 |  |  |  | 52 |  |  |  | 406 |  |  |  | 457 |  |  |  | 1,041 |
Stripping costs 1 |  |  |  |  |  |  | 25 |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | 25 |
Total capital expenditures |  |  |  |  |  |  | 151 |  |  |  | 52 |  |  |  | 406 |  |  |  | 457 |  |  |  | 1,066 |
Disposals 3 |  |  |  |  |  |  | (4 | ) |  |  | (4 | ) |  |  | (22 | ) |  |  | – |  |  |  | (30) |
Business combinations (note 4.1) |  |  |  |  |  |  | 32 |  |  |  | 1 |  |  |  | 9 |  |  |  | 1 |  |  |  | 43 |
Depreciation and depletion for the period |  |  |  |  |  |  | (153 | ) |  |  | (78 | ) |  |  | (493 | ) |  |  | – |  |  |  | (724) |
Impairment losses (note 7) |  |  |  |  |  |  | (12 | ) |  |  | (8 | ) |  |  | (55 | ) |  |  | (2 | ) |  |  | (77) |
Asset retirement obligations (note 18.2) |  |  |  |  |  |  | – |  |  |  | 5 |  |  |  | 17 |  |  |  | – |  |  |  | 22 |
Foreign currency translation effects |  |  |  |  |  |  | (83 | ) |  |  | (177 | ) |  |  | (36 | ) |  |  | (50 | ) |  |  | (346) |
Cost at end of period |  |  |  |  |  |  | 4,843 |  |  |  | 2,342 |  |  |  | 11,663 |  |  |  | 1,668 |  |  |  | 20,516 |
Accumulated depreciation and depletion |  |  |  |  |  |  | (1,337 | ) |  |  | (1,513 | ) |  |  | (7,510 | ) |  |  | – |  |  |  | (10,360) |
Net book value at end of period |  | $ |  |  |  |  | 3,506 |  |  |  | 829 |  |  |  | 4,153 |  |  |  | 1,668 |  |  |  | 10,156 |
1 | All waste removal costs or stripping costs incurred in the operative phase of a surface mine to access the mineral reserves are recognized as part of its carrying amount. The capitalized amounts are further amortized over the expected useful life of exposed ore body based on the units-of-production method.
2 | As of December 31, 2023, the Maceo plant in Colombia with an annual capacity of 1.3 million tons of cement, has not initiated commercial operations mainly as the access road has not been finalized. As of the reporting date, the works related to the access road to the plant reflect significant progress; nonetheless, the beginning of commercial operations is subject also to the successful conclusion of several ongoing processes for the proper operation of the assets and other legal proceedings (note 25.3). As of December 31, 2023, the carrying amount of the plant is for an amount in Colombian Pesos equivalent to $308.
3 | In 2023 includes sales of non-strategic fixed assets in the United States and France for $23 and $16, respectively, among others. In 2022 includes sales of non-strategic fixed assets in the United States and the United Kingdom for $5 in each country, among others.
Summary of Recognized Impairment Losses | During the years ended December 31, 2023, 2022 and 2021 impairment losses of fixed assets by country are as follows:
|  |  |  |  | 2023 |  |  | 2022 |  |  | 2021 |
Colombia |  | $ |  |  |  |  | 8 |  |  |  | – |  |  |  | 10 |
Caribbean TCL |  |  |  |  |  |  | 7 |  |  |  | 14 |  |  |  | – |
France |  |  |  |  |  |  | 6 |  |  |  | – |  |  |  | – |
United Kingdom |  |  |  |  |  |  | 5 |  |  |  | 10 |  |  |  | 5 |
United States |  |  |  |  |  |  | 3 |  |  |  | 26 |  |  |  | 18 |
Spain |  |  |  |  |  |  | 2 |  |  |  | 23 |  |  |  | – |
Others |  |  |  |  |  |  | 5 |  |  |  | 4 |  |  |  | 10 |
|  | $ |  |  |  |  | 36 |  |  |  | 77 |  |  |  | 43 |
Asset for the Right of Use,Net | As of December 31, 2023 and 2022, consolidated asset s for the right-of-use, net and the changes in this caption during 2023 and 2022, were as follows:
|  |  |  |  | 2023 |
|  |  |  |  | Land |  |  | Buildings |  |  | Machinery and equipment |  |  | Others |  |  | Total |
Assets for the right-of-use at beginning of period |  | $ |  |  |  |  | 439 |  |  |  | 335 |  |  |  | 1,570 |  |  |  | 55 |  |  |  | 2,399 |
Accumulated depreciation |  |  |  |  |  |  | (142 | ) |  |  | (203 | ) |  |  | (894 | ) |  |  | (32 | ) |  |  | (1,271) |
Net book value at beginning of period |  |  |  |  |  |  | 297 |  |  |  | 132 |  |  |  | 676 |  |  |  | 23 |  |  |  | 1,128 |
Additions of new leases |  |  |  |  |  |  | 36 |  |  |  | 9 |  |  |  | 284 |  |  |  | 12 |  |  |  | 341 |
Cancellations and remeasurements, net |  |  |  |  |  |  | (10 | ) |  |  | (4 | ) |  |  | (14 | ) |  |  | (1 | ) |  |  | (29) |
Depreciation |  |  |  |  |  |  | (15 | ) |  |  | (36 | ) |  |  | (141 | ) |  |  | (12 | ) |  |  | (204) |
Foreign currency translation effects |  |  |  |  |  |  | 13 |  |  |  | 21 |  |  |  | (68 | ) |  |  | (8 | ) |  |  | (42) |
Assets for the right-of-use at end of period |  |  |  |  |  |  | 476 |  |  |  | 356 |  |  |  | 1,722 |  |  |  | 58 |  |  |  | 2,612 |
Accumulated depreciation |  |  |  |  |  |  | (155 | ) |  |  | (234 | ) |  |  | (985 | ) |  |  | (44 | ) |  |  | (1,418) |
Net book value at end of period |  | $ |  |  |  |  | 321 |  |  |  | 122 |  |  |  | 737 |  |  |  | 14 |  |  |  | 1,194 |
|  |  |  |  |  |  |  | 2022 |  |  |  |  |  |  |
|  |  |  |  | Land |  |  | Buildings |  |  | Machinery and equipment |  |  | Others |  |  | Total |
Assets for the right-of-use at beginning of period |  | $ |  |  |  |  | 395 |  |  |  | 401 |  |  |  | 1,513 |  |  |  | 21 |  |  |  | 2,330 |
Accumulated depreciation |  |  |  |  |  |  | (147 | ) |  |  | (205 | ) |  |  | (845 | ) |  |  | (13 | ) |  |  | (1,210) |
Net book value at beginning of period |  |  |  |  |  |  | 248 |  |  |  | 196 |  |  |  | 668 |  |  |  | 8 |  |  |  | 1,120 |
Additions of new leases |  |  |  |  |  |  | 45 |  |  |  | 21 |  |  |  | 207 |  |  |  | 23 |  |  |  | 296 |
Cancellations and remeasurements, net |  |  |  |  |  |  | (15 | ) |  |  | (27 | ) |  |  | (82 | ) |  |  | (1 | ) |  |  | (125) |
Depreciation |  |  |  |  |  |  | (1 | ) |  |  | (77 | ) |  |  | (165 | ) |  |  | (15 | ) |  |  | (258) |
Foreign currency translation effects |  |  |  |  |  |  | 20 |  |  |  | 19 |  |  |  | 48 |  |  |  | 8 |  |  |  | 95 |
Assets for the right-of-use at end of period |  |  |  |  |  |  | 439 |  |  |  | 335 |  |  |  | 1,570 |  |  |  | 55 |  |  |  | 2,399 |
Accumulated depreciation |  |  |  |  |  |  | (142 | ) |  |  | (203 | ) |  |  | (894 | ) |  |  | (32 | ) |  |  | (1,271) |
Net book value at end of period |  | $ |  |  |  |  | 297 |  |  |  | 132 |  |  |  | 676 |  |  |  | 23 |  |  |  | 1,128 |
For the years ended December 31, 2023, 2022 and 2021, the combined rental expense related with short-term leases, leases of low-value assets and variable lease payments were $137, $108 and $94, respectively, and were recognized in cost of sales and operating expenses, as applicable. During the reported periods, Cemex did not have any material revenue from sub-leasing activities.

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