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Business Combinations, Divestitures and Discontinued Operations and Selected Financial Information by Reportable Segment and Line of Business | 12 Months Ended
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Dec. 31, 2023
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Business Combinations, Divestitures and Discontinued Operations and Selected Financial Information by Reportable Segment and Line of Business |
4) | BUSINESS COMBINATIONS, DIVESTITURES AND DISCONTINUED OPERATIONS AND SELECTED FINANCIAL INFORMATION BY REPORTABLE SEGMENT AND LINE OF BUSINESS
4.1) | BUSINESS COMBINATIONS
On November 1, 2023, through a subsidiary in Germany, Cemex completed the acquisition of Kiesel, a mortars and adhesives technological leader in the construction industry based in Germany that serves the German, French, Polish, and Czech markets, consisting of a production facility and five distribution locations for a total consideration of $13. As of December 31, 2023, based on the preliminary valuation of the fair values of the assets acquired and liabilities assumed, Cemex determined goodwill of $5. On May 11, 2023, through a subsidiary, Cemex completed the purchase of Atlantic Minerals Limited in Newfoundland, Canada, consisting mainly of an aggregates quarry and maritime port operations for a price of $75. With this investment, Cemex secured a new long-term aggregates reserve for its operations in Florida and the east coast of the United States, as well as a source for chemical-grade stone serving a broader customers. As of December 31, 2023, based on the preliminary valuation of the fair values of the assets acquired and liabilities assumed, Cemex did not determine any goodwill. On January 30, 2023, through a subsidiary, Cemex acquired a 51% stake in Israel-based SHTANG Recycle LTD (“SHTANG”), a construction demolition and excavation waste (CDEW) recycling company, for a price of $13. The acquisition aligns with Cemex’s strategy to strengthen its business in developed markets through bolt-on acquisitions in businesses with strong circular and sustainable attributes. SHTANG has been awarded a 13-year license to build and operate the CDEW recycling facility. The state-of-the-art facility will be capable of processing 600,000 tons of waste annually. The CDEW production will be used by Cemex as raw materials for aggregate production, reintegrating them into the construction value chain. As of December 31, 2023, based on the preliminary valuation of the fair values of the assets acquired and liabilities assumed, Cemex determined goodwill of $3. On July 11, 2022, through a subsidiary in Germany, Cemex completed the acquisition of a 53% stake in the German aggregates company ProStein for a total consideration of $21. The investment expands Cemex’s aggregates business in the region and Cemex estimates increased the life of aggregates reserves for Cemex’s operations in Central Europe for at least the next 25 years. The majority stake in ProStein’s assets adds a full range of fine and hardstone aggregates to Cemex’s aggregates portfolio. In addition to supplying the greater Berlin area, the additional capacity can supply several urban centers in Poland and the Czech Republic. ProStein’s assets include six active hardstone plants and six CDEW recovery sites. During 2023, based on the valuation of the fair values of the assets acquired and liabilities assumed, Cemex did not determine any goodwill. On December 10, 2021, through a subsidiary in Mexico, Cemex acquired Broquers Ambiental, a sustainable waste management company for a total consideration of $13. Broquers Ambiental’s assets include a plant for solid waste treatment for its use as alternate fuel. During 2022, considering the valuation of the fair values of the assets acquired and liabilities assumed, Cemex determined goodwill of $4. In January 2021, a subsidiary of Cemex in Israel acquired two ready-mix concrete plants from Kinneret and Beton-He’Emek for an amount in shekels equivalent to $6. During 2021, based on the valuation of the fair values of the assets acquired and liabilities assumed, Cemex determined goodwill of $5.
4.2) | DIVESTITURES AND DISCONTINUED OPERATIONS
On October 25, 2022, to accelerate the growth and development of Neoris N.V. (“Neoris”), its subsidiary in the digital solutions sector, Cemex closed a partnership with Advent International (“Advent”). As part of the partnership Cemex sold to Advent a 65% stake in Neoris for a total cash consideration of $119. While surrendering control to Advent, Cemex retained a 35% stake and remained a key strategic partner and customer of Neoris. Cemex’s retained stake in Neoris was remeasured at fair value at the date of loss of control and was subsequently accounted for under the equity method within the line item “Investments in associates and joint ventures.” Neoris’ results for the period from January 1 to October 25, 2022 and for the year ended December 31, 2021 are reported in the statements of income, net of income tax, in the single line item “Discontinued operations,” including in 2022 a gain on sale of $117, net of the reclassification of foreign currency translation effects accrued in equity until the date of loss of control. On August 31, 2022, through subsidiaries in Colombia and Spain, Cemex concluded the sale with affiliates of Cementos Progreso Holdings, S.L. of its entire operations in Costa Rica and El Salvador for a total cash consideration of $325, related to Cemex’s aggregate controlling interest. The assets sold consisted of one cement plant, one grinding station, seven ready-mix plants, one aggregates quarry, one distribution center in Costa Rica and one distribution center in El Salvador. Cemex’s results of these operations for the period from January 1 to August 31, 2022 and for the year ended December 31, 2021 are reported in the statements of income, net of income tax, in the single line item “Discontinued operations,” including in 2022 a gain on sale of $240 which includes the reclassification of foreign currency translation effects accrued in equity until the disposal date. On July 9, 2021, Cemex closed the sale to Çimsa Çimento Sanayi Ve Ticaret A.Ş., of its white cement business, except for Mexico and the United States, for a total cash consideration of $155, including its Buñol cement plant in Spain and its white cement customer list. Cemex’s operations of these assets in Spain for the period from January 1 to July 9, 2021 are reported in the statements of income, net of income tax, in the single line item “Discontinued operations,” including in 2021 a loss on sale of $67 net of the proportional allocation of goodwill of $41. On March 31, 2021, Cemex closed the sale to LafargeHolcim of 24 concrete plants and one aggregates quarry located in the Rhone Alpes region in the Southeast of France for a total cash consideration of $44. Cemex’s operations of these assets in France for the three-month period ended on March 31, 2021 are reported in the statements of income, net of income tax, in the single line item “Discontinued operations.” The following table presents condensed combined information of the statements of income of Cemex’s discontinued operations previously mentioned related to: a) Neoris operations for the period from January 1 to October 25, 2022 and for year ended December 31, 2021; b) Costa Rica and El Salvador for the period from January 1 to August 31, 2022 and for the year ended December 31, 2021; c) Spain related to the white cement business for the period from January 1 to July 9, 2021 and; d) France related to the Rhone Alpes region for the three-month period ended March 31, 2021.
|  |  |  | 2022 |  |  | 2021 |
Revenues |  | $ |  |  | 256 |  |  |  | 354 |
Cost of sales and operating expenses |  |  |  |  | (225 | ) |  |  | (304 | )
Other expenses, net |  |  |  |  | (8 | ) |  |  | (42 | )
Financial expenses, net and others |  |  |  |  | – |  |  |  | 5 |
Earnings before income tax |  |  |  |  | 23 |  |  |  | 13 |
Income tax |  |  |  |  | (3 | ) |  |  | (48 | )
Result of discontinued operations |  |  |  |  | 20 |  |  |  | (35 | )
Net disposal result |  |  |  |  | 304 |  |  |  | (4 | )
Net result of discontinued operations |  | $ |  |  | 324 |  |  |  | (39 | )
4.3) | SELECTED FINANCIAL INFORMATION BY REPORTABLE SEGMENT AND LINE OF BUSINESS
Reportable segments The Company’s main activities are oriented to the construction industry, mainly through the production, marketing, sale and distribution of cement, ready-mix concrete, aggregates, urbanization solutions and other construction materials and services. Under IFRS, the Company’s operating segments represent the components of Cemex that engage in business activities from which Cemex may earn revenues and incur expenses, whose operating results are reviewed by the entity’s top management to make decisions about resources to be allocated to the segments and assess their performance, and for which discrete financial information is available. A reportable segment represents an operating segment or an aggregation of operating segments considering certain thresholds, under which entities must report separately any operating segments which account for 10% or more of combined revenues, both internal and external, 10% or more of combined net profit or loss, depending on the individual result of the operating segment, and/or 10% or more of the combined assets of all operating segments. In addition, despite the described 10% threshold not being met individually, entities must report as many individual operating segments as needed to cover at least 75% of the entity’s revenue. Cemex operates by geography and line of business. Cemex discloses its segment information presenting 15 reportable segments. For the reported periods, Cemex’s operations were organized in four regions, each under the supervision of a regional president, as follows: 1) Mexico, comprised of one operating and reportable segment, 2) United States, comprised of one operating and reportable segment, 3) Europe, Middle East, Africa and Asia (“EMEAA”), comprised of 11 operating segments, of which four were aggregated into a single reportable operating segment as described below, and 4) South, Central America and the Caribbean (“SCA&C”), comprised of 12 operating segments, of which nine were aggregated into two reportable operating segments as described below. The Company’s regional presidents, who are part of Cemex’s Executive Committee, report to Cemex’s Chief Executive Officer or CEO. In addition, for those regions comprising several operating segments, such as EMEAA and SCA&C, each operating segment is supervised by a country manager whom in turn reports to the regional president. The material accounting policies applied to determine the financial information by reportable segment are consistent with those described in note 28. Aggregation criteria Considering similar regional and/or economic characteristics and materiality, such as: (a) the nature of the products and services, all related to construction materials and the construction industry, (b) the nature of the production processes, which are the same for cement, ready-mix concrete, aggregates and urbanization solutions across geographies, (c) the type of customers for their products or services, in all cases construction materials distributors and wholesalers, governments and big construction firms, and (d) the methods used to distribute their products or provide their services, which are very similar among the Company’s geographies using both third-party transportation for cement and aggregates and our own mixers fleet for ready-mix, certain operating segments have been aggregated and presented as single reportable segments. These reportable segments are as follows: a) the “Rest of EMEAA” reportable segment refers to Cemex’s operating segments in the Czech Republic, Croatia, Egypt and the United Arab Emirates; b) the “Rest of SCA&C” reportable segment refers to Cemex’s operating segments in Puerto Rico, Nicaragua, Jamaica, the Caribbean and Guatemala, excluding the operations of Trinidad Cement Limited (“TCL”); and c) the “Caribbean TCL” reportable segment refers to the operating segments of TCL and subsidiaries in Trinidad and Tobago, Jamaica, Guyana and Barbados. The line item “Other activities,” included to reconcile the total of reportable segments with the consolidated amounts from continuing operations, refers to the following combined transactions: 1) cement trade maritime operations, 2) the Parent Company, other corporate entities and finance subsidiaries, and 3) other minor subsidiaries with different lines of business. Selected information of the consolidated statements of income by reportable segment for the years 2023, 2022 and 2021, excluding the share of profits of equity accounted investees by reportable segment that is included in note 14.1, was as follows:
2023 |  |  |  |  | Sales (including intragroup transactions) |  |  | Less: Intragroup transactions |  |  | External revenues |  |  |  |  |  | Operating EBITDA |  |  | Less: Depreciation and amortization |  |  | Operating earnings (loss) before other expenses, net |  |  | Other expenses, net |  |  | Financial expense |  |  | Other financing items, net |
Mexico |  | $ |  |  |  |  | 5,060 |  |  |  | (205 | ) |  |  | 4,855 |  |  |  |  |  |  |  | 1,488 |  |  |  | 221 |  |  |  | 1,267 |  |  |  | (59 | ) |  |  | (39 | ) |  |  | 105 |
United States |  |  |  |  |  |  | 5,338 |  |  |  | – |  |  |  | 5,338 |  |  |  |  |  |  |  | 1,040 |  |  |  | 483 |  |  |  | 557 |  |  |  | (31 | ) |  |  | (75 | ) |  |  | (30 | )
EMEAA |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United Kingdom |  |  |  |  |  |  | 992 |  |  |  | – |  |  |  | 992 |  |  |  |  |  |  |  | 193 |  |  |  | 72 |  |  |  | 121 |  |  |  | (6 | ) |  |  | (14 | ) |  |  | (17 | )
France |  |  |  |  |  |  | 842 |  |  |  | – |  |  |  | 842 |  |  |  |  |  |  |  | 53 |  |  |  | 54 |  |  |  | (1 | ) |  |  | (39 | ) |  |  | (15 | ) |  |  | (1 | )
Germany |  |  |  |  |  |  | 497 |  |  |  | (50 | ) |  |  | 447 |  |  |  |  |  |  |  | 37 |  |  |  | 32 |  |  |  | 5 |  |  |  | (3 | ) |  |  | (2 | ) |  |  | (5 | )
Poland |  |  |  |  |  |  | 467 |  |  |  | (1 | ) |  |  | 466 |  |  |  |  |  |  |  | 72 |  |  |  | 24 |  |  |  | 48 |  |  |  | 1 |  |  |  | (2 | ) |  |  | 2 |
Spain |  |  |  |  |  |  | 449 |  |  |  | (38 | ) |  |  | 411 |  |  |  |  |  |  |  | 71 |  |  |  | 31 |  |  |  | 40 |  |  |  | 3 |  |  |  | (2 | ) |  |  | 1 |
Philippines 1 |  |  |  |  |  |  | 312 |  |  |  | – |  |  |  | 312 |  |  |  |  |  |  |  | 34 |  |  |  | 32 |  |  |  | 2 |  |  |  | (2 | ) |  |  | (3 | ) |  |  | 1 |
Israel |  |  |  |  |  |  | 794 |  |  |  | – |  |  |  | 794 |  |  |  |  |  |  |  | 90 |  |  |  | 33 |  |  |  | 57 |  |  |  | 5 |  |  |  | (6 | ) |  |  | 1 |
Rest of EMEAA |  |  |  |  |  |  | 770 |  |  |  | (4 | ) |  |  | 766 |  |  |  |  |  |  |  | 147 |  |  |  | 48 |  |  |  | 99 |  |  |  | (7 | ) |  |  | (6 | ) |  |  | (6 | )
SCA&C |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Colombia 2 |  |  |  |  |  |  | 458 |  |  |  | – |  |  |  | 458 |  |  |  |  |  |  |  | 62 |  |  |  | 25 |  |  |  | 37 |  |  |  | (19 | ) |  |  | (6 | ) |  |  | (1 | )
Panama 2 |  |  |  |  |  |  | 158 |  |  |  | (26 | ) |  |  | 132 |  |  |  |  |  |  |  | 35 |  |  |  | 17 |  |  |  | 18 |  |  |  | (2 | ) |  |  | – |  |  |  | – |
Caribbean TCL 3 |  |  |  |  |  |  | 329 |  |  |  | (12 | ) |  |  | 317 |  |  |  |  |  |  |  | 78 |  |  |  | 20 |  |  |  | 58 |  |  |  | (17 | ) |  |  | (2 | ) |  |  | (2 | )
Dominican Republic |  |  |  |  |  |  | 378 |  |  |  | (18 | ) |  |  | 360 |  |  |  |  |  |  |  | 139 |  |  |  | 9 |  |  |  | 130 |  |  |  | (2 | ) |  |  | (1 | ) |  |  | 13 |
Rest of SCA&C 2 |  |  |  |  |  |  | 414 |  |  |  | – |  |  |  | 414 |  |  |  |  |  |  |  | 90 |  |  |  | 13 |  |  |  | 77 |  |  |  | (10 | ) |  |  | (2 | ) |  |  | 1 |
Reportable segments |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 16,904 |  |  |  |  |  |  |  | 3,629 |  |  |  | 1,114 |  |  |  | 2,515 |  |  |  | (188 | ) |  |  | (175 | ) |  |  | 62 |
Other activities 4 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 484 |  |  |  |  |  |  |  | (282 | ) |  |  | 119 |  |  |  | (401 | ) |  |  | (77 | ) |  |  | (356 | ) |  |  | (29 | )
Consolidated |  | $ |  |  |  |  |  |  |  |  |  |  |  |  | 17,388 |  |  |  |  |  |  |  | 3,347 |  |  |  | 1,233 |  |  |  | 2,114 |  |  |  | (265 | ) |  |  | (531 | ) |  |  | 33 |
2022 |  |  |  |  | Sales (including intragroup transactions) |  |  | Less: Intragroup transactions |  |  | External revenues |  |  |  |  |  | Operating EBITDA |  |  | Less: Depreciation and amortization |  |  | Operating earnings (loss) before other expenses, net |  |  | Other expenses, net |  |  | Financial expense |  |  | Other financing items, net |
Mexico |  | $ |  |  |  |  | 3,842 |  |  |  | (200 | ) |  |  | 3,642 |  |  |  |  |  |  |  | 1,133 |  |  |  | 172 |  |  |  | 961 |  |  |  | (69 | ) |  |  | (28 | ) |  |  | 32 |
United States |  |  |  |  |  |  | 5,038 |  |  |  | (4 | ) |  |  | 5,034 |  |  |  |  |  |  |  | 762 |  |  |  | 455 |  |  |  | 307 |  |  |  | (205 | ) |  |  | (55 | ) |  |  | (21 | )
EMEAA |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United Kingdom |  |  |  |  |  |  | 982 |  |  |  | – |  |  |  | 982 |  |  |  |  |  |  |  | 195 |  |  |  | 60 |  |  |  | 135 |  |  |  | (8 | ) |  |  | (8 | ) |  |  | (8 | )
France |  |  |  |  |  |  | 781 |  |  |  | – |  |  |  | 781 |  |  |  |  |  |  |  | 63 |  |  |  | 50 |  |  |  | 13 |  |  |  | 1 |  |  |  | (10 | ) |  |  | 2 |
Germany |  |  |  |  |  |  | 485 |  |  |  | (46 | ) |  |  | 439 |  |  |  |  |  |  |  | 40 |  |  |  | 28 |  |  |  | 12 |  |  |  | 2 |  |  |  | (2 | ) |  |  | (3 | )
Poland |  |  |  |  |  |  | 419 |  |  |  | (4 | ) |  |  | 415 |  |  |  |  |  |  |  | 64 |  |  |  | 22 |  |  |  | 42 |  |  |  | 1 |  |  |  | (2 | ) |  |  | 4 |
Spain |  |  |  |  |  |  | 382 |  |  |  | (36 | ) |  |  | 346 |  |  |  |  |  |  |  | 6 |  |  |  | 28 |  |  |  | (22 | ) |  |  | (113 | ) |  |  | (2 | ) |  |  | 2 |
Philippines 1 |  |  |  |  |  |  | 379 |  |  |  | – |  |  |  | 379 |  |  |  |  |  |  |  | 84 |  |  |  | 37 |  |  |  | 47 |  |  |  | (2 | ) |  |  | 18 |  |  |  | (9 | )
Israel |  |  |  |  |  |  | 840 |  |  |  | – |  |  |  | 840 |  |  |  |  |  |  |  | 112 |  |  |  | 46 |  |  |  | 66 |  |  |  | 5 |  |  |  | (4 | ) |  |  | – |
Rest of EMEAA |  |  |  |  |  |  | 707 |  |  |  | (1 | ) |  |  | 706 |  |  |  |  |  |  |  | 116 |  |  |  | 55 |  |  |  | 61 |  |  |  | (10 | ) |  |  | (4 | ) |  |  | 2 |
SCA&C |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Colombia 2 |  |  |  |  |  |  | 429 |  |  |  | – |  |  |  | 429 |  |  |  |  |  |  |  | 61 |  |  |  | 24 |  |  |  | 37 |  |  |  | 12 |  |  |  | (7 | ) |  |  | 22 |
Panama 2 |  |  |  |  |  |  | 149 |  |  |  | (34 | ) |  |  | 115 |  |  |  |  |  |  |  | 28 |  |  |  | 16 |  |  |  | 12 |  |  |  | (2 | ) |  |  | – |  |  |  | – |
Caribbean TCL 3 |  |  |  |  |  |  | 302 |  |  |  | (8 | ) |  |  | 294 |  |  |  |  |  |  |  | 74 |  |  |  | 17 |  |  |  | 57 |  |  |  | (19 | ) |  |  | (4 | ) |  |  | (1 | )
Dominican Republic |  |  |  |  |  |  | 348 |  |  |  | (6 | ) |  |  | 342 |  |  |  |  |  |  |  | 133 |  |  |  | 8 |  |  |  | 125 |  |  |  | (1 | ) |  |  | (1 | ) |  |  | (3 | )
Rest of SCA&C 2 |  |  |  |  |  |  | 394 |  |  |  | (1 | ) |  |  | 393 |  |  |  |  |  |  |  | 90 |  |  |  | 13 |  |  |  | 77 |  |  |  | (2 | ) |  |  | (2 | ) |  |  | (3 | )
Reportable segments |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 15,137 |  |  |  |  |  |  |  | 2,961 |  |  |  | 1,031 |  |  |  | 1,930 |  |  |  | (410 | ) |  |  | (111 | ) |  |  | 16 |
Other activities 4 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 440 |  |  |  |  |  |  |  | (280 | ) |  |  | 89 |  |  |  | (369 | ) |  |  | (57 | ) |  |  | (394 | ) |  |  | 135 |
Consolidated |  | $ |  |  |  |  |  |  |  |  |  |  |  |  | 15,577 |  |  |  |  |  |  |  | 2,681 |  |  |  | 1,120 |  |  |  | 1,561 |  |  |  | (467 | ) |  |  | (505 | ) |  |  | 151 |
2021 |  |  |  |  | Sales (including intragroup transactions) |  |  | Less: Intragroup transactions |  |  | External revenues |  |  |  |  |  | Operating EBITDA |  |  | Less: Depreciation and amortization |  |  | Operating earnings (loss) before other expenses, net |  |  | Other expenses, net |  |  | Financial expense |  |  | Other financing items, net |
Mexico |  | $ |  |  |  |  | 3,466 |  |  |  | (142 | ) |  |  | 3,324 |  |  |  |  |  |  |  | 1,164 |  |  |  | 161 |  |  |  | 1,003 |  |  |  | (43 | ) |  |  | (29 | ) |  |  | 2 |
United States |  |  |  |  |  |  | 4,359 |  |  |  | (4 | ) |  |  | 4,355 |  |  |  |  |  |  |  | 778 |  |  |  | 464 |  |  |  | 314 |  |  |  | (127 | ) |  |  | (47 | ) |  |  | (19 | )
EMEAA |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United Kingdom |  |  |  |  |  |  | 940 |  |  |  | – |  |  |  | 940 |  |  |  |  |  |  |  | 141 |  |  |  | 69 |  |  |  | 72 |  |  |  | (3 | ) |  |  | (8 | ) |  |  | (17 | )
France |  |  |  |  |  |  | 863 |  |  |  | – |  |  |  | 863 |  |  |  |  |  |  |  | 93 |  |  |  | 50 |  |  |  | 43 |  |  |  | (6 | ) |  |  | (11 | ) |  |  | – |
Germany |  |  |  |  |  |  | 472 |  |  |  | (43 | ) |  |  | 429 |  |  |  |  |  |  |  | 69 |  |  |  | 28 |  |  |  | 41 |  |  |  | – |  |  |  | (2 | ) |  |  | (2 | )
Poland |  |  |  |  |  |  | 405 |  |  |  | (6 | ) |  |  | 399 |  |  |  |  |  |  |  | 73 |  |  |  | 25 |  |  |  | 48 |  |  |  | (4 | ) |  |  | (2 | ) |  |  | 1 |
Spain |  |  |  |  |  |  | 359 |  |  |  | (25 | ) |  |  | 334 |  |  |  |  |  |  |  | (6 | ) |  |  | 33 |  |  |  | (39 | ) |  |  | (331 | ) |  |  | (3 | ) |  |  | 51 |
Philippines 1 |  |  |  |  |  |  | 424 |  |  |  | – |  |  |  | 424 |  |  |  |  |  |  |  | 114 |  |  |  | 40 |  |  |  | 74 |  |  |  | (1 | ) |  |  | 17 |  |  |  | (2 | )
Israel |  |  |  |  |  |  | 785 |  |  |  | – |  |  |  | 785 |  |  |  |  |  |  |  | 114 |  |  |  | 45 |  |  |  | 69 |  |  |  | (1 | ) |  |  | (4 | ) |  |  | 2 |
Rest of EMEAA |  |  |  |  |  |  | 618 |  |  |  | (5 | ) |  |  | 613 |  |  |  |  |  |  |  | 87 |  |  |  | 56 |  |  |  | 31 |  |  |  | (110 | ) |  |  | (3 | ) |  |  | 1 |
SCA&C |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Colombia 2 |  |  |  |  |  |  | 437 |  |  |  | – |  |  |  | 437 |  |  |  |  |  |  |  | 87 |  |  |  | 26 |  |  |  | 61 |  |  |  | (19 | ) |  |  | (7 | ) |  |  | (12 | )
Panama 2 |  |  |  |  |  |  | 121 |  |  |  | (23 | ) |  |  | 98 |  |  |  |  |  |  |  | 31 |  |  |  | 16 |  |  |  | 15 |  |  |  | (2 | ) |  |  | – |  |  |  | – |
Caribbean TCL 3 |  |  |  |  |  |  | 280 |  |  |  | (7 | ) |  |  | 273 |  |  |  |  |  |  |  | 65 |  |  |  | 19 |  |  |  | 46 |  |  |  | (1 | ) |  |  | (6 | ) |  |  | (6 | )
Dominican Republic |  |  |  |  |  |  | 299 |  |  |  | (8 | ) |  |  | 291 |  |  |  |  |  |  |  | 128 |  |  |  | 7 |  |  |  | 121 |  |  |  | 3 |  |  |  | – |  |  |  | (1 | )
Rest of SCA&C 2 |  |  |  |  |  |  | 465 |  |  |  | (21 | ) |  |  | 444 |  |  |  |  |  |  |  | 110 |  |  |  | 13 |  |  |  | 97 |  |  |  | (5 | ) |  |  | (2 | ) |  |  | (3 | )
Reportable segments |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 14,009 |  |  |  |  |  |  |  | 3,048 |  |  |  | 1,052 |  |  |  | 1,996 |  |  |  | (650 | ) |  |  | (107 | ) |  |  | (5 | )
Other activities 4 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 370 |  |  |  |  |  |  |  | (209 | ) |  |  | 68 |  |  |  | (277 | ) |  |  | 568 |  |  |  | (469 | ) |  |  | (156 | )
Consolidated |  | $ |  |  |  |  |  |  |  |  |  |  |  |  | 14,379 |  |  |  |  |  |  |  | 2,839 |  |  |  | 1,120 |  |  |  | 1,719 |  |  |  | (82 | ) |  |  | (576 | ) |  |  | (161 | )
1 | Cemex’s operations in the Philippines are mainly conducted through Cemex Holdings Philippines, Inc. (“CHP”), a Philippine company whose shares trade on the Philippines Stock Exchange. As of December 31, 2023 and 2022, there is a non-controlling interest in CHP of 10.14% and 22.10%, respectively, of its ordinary shares (note 21.4).
2 | Until June 2023, after the conclusion of a tender offer and delisting process, Cemex Latam Holdings, S.A. (“CLH”), a company incorporated in Spain, traded its ordinary shares on the Colombian Stock Exchange. CLH is the indirect holding company of Cemex’s operations in Colombia, Panama, Guatemala and Nicaragua, and until August 31, 2022, of the operations in Costa Rica and El Salvador. As of December 31, 2023 and 2022, there was a non-controlling interest in CLH of 0.50% and 4.70% of its ordinary shares, respectively, excluding shares held in CLH’s treasury (note 21.4).
3 | The shares of TCL trade on the Trinidad and Tobago Stock Exchange. As of December 31, 2023 and 2022, there was a non-controlling interest in TCL of 30.17% of its ordinary shares in both years (note 21.4).
4 | In the caption of external revenues, refers mainly to trade maritime transactions of cement and clinker carried by Cemex’s trading unit and, in the rest of the captions, refers to Cemex’s corporate activities.
Debt by reportable segment is disclosed in note 17.1. As of December 31, 2023 and 2022, the selected statement of financial position information by reportable segment was as follows:
2023 |  |  |  |  | Associates and joint ventures |  |  | Other segment assets |  |  | Total assets |  |  | Total liabilities |  |  | Net assets by segment |  |  |  |  |  | Capital expenditures 1 |
Mexico |  | $ |  |  |  |  | – |  |  |  | 5,381 |  |  |  | 5,381 |  |  |  | 2,052 |  |  |  | 3,329 |  |  |  |  |  |  |  | 264 |
United States |  |  |  |  |  |  | 216 |  |  |  | 12,782 |  |  |  | 12,998 |  |  |  | 2,770 |  |  |  | 10,228 |  |  |  |  |  |  |  | 521 |
EMEAA |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United Kingdom |  |  |  |  |  |  | 6 |  |  |  | 1,484 |  |  |  | 1,490 |  |  |  | 960 |  |  |  | 530 |  |  |  |  |  |  |  | 107 |
France |  |  |  |  |  |  | 41 |  |  |  | 922 |  |  |  | 963 |  |  |  | 467 |  |  |  | 496 |  |  |  |  |  |  |  | 44 |
Germany |  |  |  |  |  |  | 3 |  |  |  | 506 |  |  |  | 509 |  |  |  | 289 |  |  |  | 220 |  |  |  |  |  |  |  | 47 |
Poland |  |  |  |  |  |  | – |  |  |  | 415 |  |  |  | 415 |  |  |  | 153 |  |  |  | 262 |  |  |  |  |  |  |  | 44 |
Spain |  |  |  |  |  |  | – |  |  |  | 666 |  |  |  | 666 |  |  |  | 212 |  |  |  | 454 |  |  |  |  |  |  |  | 38 |
Philippines |  |  |  |  |  |  | – |  |  |  | 795 |  |  |  | 795 |  |  |  | 135 |  |  |  | 660 |  |  |  |  |  |  |  | 85 |
Israel |  |  |  |  |  |  | – |  |  |  | 808 |  |  |  | 808 |  |  |  | 507 |  |  |  | 301 |  |  |  |  |  |  |  | 41 |
Rest of EMEAA |  |  |  |  |  |  | 11 |  |  |  | 852 |  |  |  | 863 |  |  |  | 329 |  |  |  | 534 |  |  |  |  |  |  |  | 75 |
SCA&C |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Colombia |  |  |  |  |  |  | – |  |  |  | 1,007 |  |  |  | 1,007 |  |  |  | 308 |  |  |  | 699 |  |  |  |  |  |  |  | 76 |
Panama |  |  |  |  |  |  | – |  |  |  | 292 |  |  |  | 292 |  |  |  | 78 |  |  |  | 214 |  |  |  |  |  |  |  | 13 |
Caribbean TCL |  |  |  |  |  |  | – |  |  |  | 478 |  |  |  | 478 |  |  |  | 207 |  |  |  | 271 |  |  |  |  |  |  |  | 18 |
Dominican Republic |  |  |  |  |  |  | – |  |  |  | 233 |  |  |  | 233 |  |  |  | 95 |  |  |  | 138 |  |  |  |  |  |  |  | 16 |
Rest of SCA&C |  |  |  |  |  |  | – |  |  |  | 280 |  |  |  | 280 |  |  |  | 111 |  |  |  | 169 |  |  |  |  |  |  |  | 25 |
Reportable segments |  |  |  |  |  |  | 277 |  |  |  | 26,901 |  |  |  | 27,178 |  |  |  | 8,673 |  |  |  | 18,505 |  |  |  |  |  |  |  | 1,414 |
Other activities |  |  |  |  |  |  | 452 |  |  |  | 754 |  |  |  | 1,206 |  |  |  | 7,644 |  |  |  | (6,438 | ) |  |  |  |  |  |  | 3 |
Assets held for sale |  |  |  |  |  |  | – |  |  |  | 49 |  |  |  | 49 |  |  |  | – |  |  |  | 49 |  |  |  |  |  |  |  | – |
Total consolidated |  | $ |  |  |  |  | 729 |  |  |  | 27,704 |  |  |  | 28,433 |  |  |  | 16,317 |  |  |  | 12,116 |  |  |  |  |  |  |  | 1,417 |
2022 |  |  |  |  | Associates and joint ventures |  |  | Other segment assets |  |  | Total assets |  |  | Total liabilities |  |  | Net assets by segment |  |  |  |  |  | Capital expenditures 1 |
Mexico |  | $ |  |  |  |  | – |  |  |  | 3,846 |  |  |  | 3,846 |  |  |  | 1,381 |  |  |  | 2,465 |  |  |  |  |  |  |  | 265 |
United States |  |  |  |  |  |  | 198 |  |  |  | 12,425 |  |  |  | 12,623 |  |  |  | 2,642 |  |  |  | 9,981 |  |  |  |  |  |  |  | 551 |
EMEAA |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United Kingdom |  |  |  |  |  |  | 5 |  |  |  | 1,388 |  |  |  | 1,393 |  |  |  | 921 |  |  |  | 472 |  |  |  |  |  |  |  | 74 |
France |  |  |  |  |  |  | 42 |  |  |  | 910 |  |  |  | 952 |  |  |  | 471 |  |  |  | 481 |  |  |  |  |  |  |  | 57 |
Germany |  |  |  |  |  |  | 3 |  |  |  | 449 |  |  |  | 452 |  |  |  | 255 |  |  |  | 197 |  |  |  |  |  |  |  | 33 |
Poland |  |  |  |  |  |  | – |  |  |  | 341 |  |  |  | 341 |  |  |  | 119 |  |  |  | 222 |  |  |  |  |  |  |  | 33 |
Spain |  |  |  |  |  |  | – |  |  |  | 616 |  |  |  | 616 |  |  |  | 204 |  |  |  | 412 |  |  |  |  |  |  |  | 27 |
Philippines |  |  |  |  |  |  | – |  |  |  | 792 |  |  |  | 792 |  |  |  | 155 |  |  |  | 637 |  |  |  |  |  |  |  | 72 |
Israel |  |  |  |  |  |  | – |  |  |  | 771 |  |  |  | 771 |  |  |  | 495 |  |  |  | 276 |  |  |  |  |  |  |  | 37 |
Rest of EMEAA |  |  |  |  |  |  | 10 |  |  |  | 773 |  |  |  | 783 |  |  |  | 303 |  |  |  | 480 |  |  |  |  |  |  |  | 55 |
SCA&C |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Colombia |  |  |  |  |  |  | – |  |  |  | 742 |  |  |  | 742 |  |  |  | 274 |  |  |  | 468 |  |  |  |  |  |  |  | 45 |
Panama |  |  |  |  |  |  | – |  |  |  | 302 |  |  |  | 302 |  |  |  | 88 |  |  |  | 214 |  |  |  |  |  |  |  | 19 |
Caribbean TCL |  |  |  |  |  |  | – |  |  |  | 499 |  |  |  | 499 |  |  |  | 218 |  |  |  | 281 |  |  |  |  |  |  |  | 16 |
Dominican Republic |  |  |  |  |  |  | – |  |  |  | 232 |  |  |  | 232 |  |  |  | 81 |  |  |  | 151 |  |  |  |  |  |  |  | 18 |
Rest of SCA&C |  |  |  |  |  |  | – |  |  |  | 268 |  |  |  | 268 |  |  |  | 104 |  |  |  | 164 |  |  |  |  |  |  |  | 20 |
Reportable segments |  |  |  |  |  |  | 258 |  |  |  | 24,354 |  |  |  | 24,612 |  |  |  | 7,711 |  |  |  | 16,901 |  |  |  |  |  |  |  | 1,322 |
Other activities |  |  |  |  |  |  | 382 |  |  |  | 1,385 |  |  |  | 1,767 |  |  |  | 7,827 |  |  |  | (6,060 | ) |  |  |  |  |  |  | 40 |
Assets held for sale |  |  |  |  |  |  | – |  |  |  | 68 |  |  |  | 68 |  |  |  | – |  |  |  | 68 |  |  |  |  |  |  |  | – |
Total consolidated |  | $ |  |  |  |  | 640 |  |  |  | 25,807 |  |  |  | 26,447 |  |  |  | 15,538 |  |  |  | 10,909 |  |  |  |  |  |  |  | 1,362 |
1 | Capital expenditures represent: a) the purchases of property, machinery and equipment, b) stripping costs, as well as c) assets for the right-of-use incurred during the respective period (notes 15.1 and 15.2) and exclude increases related to asset retirement obligations (note 18.2).
Revenues including intragroup transactions and external customers by line of business and reportable segment for the years ended December 31, 2023, 2022 and 2021, were as follows:
2023 |  |  |  |  | Cement |  |  | Concrete |  |  | Aggregates |  |  | Urbanization solutions |  |  | Others |  |  | Eliminations |  |  | External revenues |
Mexico |  | $ |  |  |  |  | 3,378 |  |  |  | 1,397 |  |  |  | 399 |  |  |  | 1,163 |  |  |  | 13 |  |  |  | (1,495 | ) |  |  | 4,855 |
United States |  |  |  |  |  |  | 1,988 |  |  |  | 3,070 |  |  |  | 1,347 |  |  |  | 694 |  |  |  | 14 |  |  |  | (1,775 | ) |  |  | 5,338 |
EMEAA |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United Kingdom |  |  |  |  |  |  | 315 |  |  |  | 344 |  |  |  | 376 |  |  |  | 201 |  |  |  | 22 |  |  |  | (266 | ) |  |  | 992 |
France |  |  |  |  |  |  | – |  |  |  | 656 |  |  |  | 356 |  |  |  | 17 |  |  |  | – |  |  |  | (187 | ) |  |  | 842 |
Germany |  |  |  |  |  |  | 227 |  |  |  | 171 |  |  |  | 91 |  |  |  | 38 |  |  |  | 62 |  |  |  | (142 | ) |  |  | 447 |
Poland |  |  |  |  |  |  | 331 |  |  |  | 169 |  |  |  | 44 |  |  |  | 6 |  |  |  | – |  |  |  | (84 | ) |  |  | 466 |
Spain |  |  |  |  |  |  | 326 |  |  |  | 119 |  |  |  | 41 |  |  |  | 25 |  |  |  | – |  |  |  | (100 | ) |  |  | 411 |
Philippines |  |  |  |  |  |  | 311 |  |  |  | – |  |  |  | – |  |  |  | 3 |  |  |  | 1 |  |  |  | (3 | ) |  |  | 312 |
Israel |  |  |  |  |  |  | – |  |  |  | 662 |  |  |  | 200 |  |  |  | 116 |  |  |  | 2 |  |  |  | (186 | ) |  |  | 794 |
Rest of EMEAA |  |  |  |  |  |  | 551 |  |  |  | 288 |  |  |  | 52 |  |  |  | 17 |  |  |  | 23 |  |  |  | (165 | ) |  |  | 766 |
SCA&C |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Colombia |  |  |  |  |  |  | 316 |  |  |  | 163 |  |  |  | 48 |  |  |  | 54 |  |  |  | 22 |  |  |  | (145 | ) |  |  | 458 |
Panama |  |  |  |  |  |  | 128 |  |  |  | 30 |  |  |  | 9 |  |  |  | 12 |  |  |  | 4 |  |  |  | (51 | ) |  |  | 132 |
Caribbean TCL |  |  |  |  |  |  | 316 |  |  |  | 5 |  |  |  | 8 |  |  |  | 1 |  |  |  | 4 |  |  |  | (17 | ) |  |  | 317 |
Dominican Republic |  |  |  |  |  |  | 301 |  |  |  | 24 |  |  |  | – |  |  |  | 60 |  |  |  | 10 |  |  |  | (35 | ) |  |  | 360 |
Rest of SCA&C |  |  |  |  |  |  | 373 |  |  |  | 18 |  |  |  | 5 |  |  |  | 28 |  |  |  | 1 |  |  |  | (11 | ) |  |  | 414 |
Reportable segments |  |  |  |  |  |  | 8,861 |  |  |  | 7,116 |  |  |  | 2,976 |  |  |  | 2,435 |  |  |  | 178 |  |  |  | (4,662 | ) |  |  | 16,904 |
Other activities |  |  |  |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | 484 |  |  |  | – |  |  |  | 484 |
Consolidated |  | $ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 17,388 |
2022 |  |  |  |  | Cement |  |  | Concrete |  |  | Aggregates |  |  | Urbanization solutions |  |  | Others |  |  | Eliminations |  |  | External revenues |
Mexico |  | $ |  |  |  |  | 2,663 |  |  |  | 925 |  |  |  | 261 |  |  |  | 843 |  |  |  | 14 |  |  |  | (1,064 | ) |  |  | 3,642 |
United States |  |  |  |  |  |  | 2,017 |  |  |  | 2,871 |  |  |  | 1,202 |  |  |  | 697 |  |  |  | 12 |  |  |  | (1,765 | ) |  |  | 5,034 |
EMEAA |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United Kingdom |  |  |  |  |  |  | 312 |  |  |  | 329 |  |  |  | 371 |  |  |  | 206 |  |  |  | 27 |  |  |  | (263 | ) |  |  | 982 |
France |  |  |  |  |  |  | – |  |  |  | 622 |  |  |  | 332 |  |  |  | 15 |  |  |  | – |  |  |  | (188 | ) |  |  | 781 |
Germany |  |  |  |  |  |  | 220 |  |  |  | 186 |  |  |  | 81 |  |  |  | 32 |  |  |  | 71 |  |  |  | (151 | ) |  |  | 439 |
Poland |  |  |  |  |  |  | 282 |  |  |  | 160 |  |  |  | 41 |  |  |  | 4 |  |  |  | 1 |  |  |  | (73 | ) |  |  | 415 |
Spain |  |  |  |  |  |  | 281 |  |  |  | 99 |  |  |  | 34 |  |  |  | 25 |  |  |  | – |  |  |  | (93 | ) |  |  | 346 |
Philippines |  |  |  |  |  |  | 378 |  |  |  | – |  |  |  | – |  |  |  | 4 |  |  |  | – |  |  |  | (3 | ) |  |  | 379 |
Israel |  |  |  |  |  |  | – |  |  |  | 718 |  |  |  | 213 |  |  |  | 97 |  |  |  | 21 |  |  |  | (209 | ) |  |  | 840 |
Rest of EMEAA |  |  |  |  |  |  | 504 |  |  |  | 260 |  |  |  | 48 |  |  |  | 18 |  |  |  | 26 |  |  |  | (150 | ) |  |  | 706 |
SCA&C |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Colombia |  |  |  |  |  |  | 296 |  |  |  | 137 |  |  |  | 40 |  |  |  | 62 |  |  |  | 19 |  |  |  | (125 | ) |  |  | 429 |
Panama |  |  |  |  |  |  | 119 |  |  |  | 27 |  |  |  | 7 |  |  |  | 13 |  |  |  | 2 |  |  |  | (53 | ) |  |  | 115 |
Caribbean TCL |  |  |  |  |  |  | 297 |  |  |  | 4 |  |  |  | 6 |  |  |  | 2 |  |  |  | 5 |  |  |  | (20 | ) |  |  | 294 |
Dominican Republic |  |  |  |  |  |  | 285 |  |  |  | 20 |  |  |  | – |  |  |  | 46 |  |  |  | 10 |  |  |  | (19 | ) |  |  | 342 |
Rest of SCA&C |  |  |  |  |  |  | 360 |  |  |  | 16 |  |  |  | 3 |  |  |  | 22 |  |  |  | 1 |  |  |  | (9 | ) |  |  | 393 |
Reportable segments |  |  |  |  |  |  | 8,014 |  |  |  | 6,374 |  |  |  | 2,639 |  |  |  | 2,086 |  |  |  | 209 |  |  |  | (4,185 | ) |  |  | 15,137 |
Other activities |  |  |  |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | 440 |  |  |  | – |  |  |  | 440 |
Consolidated |  | $ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 15,577 |
2021 |  |  |  |  | Cement |  |  | Concrete |  |  | Aggregates |  |  | Urbanization solutions |  |  | Others |  |  | Eliminations |  |  | External revenues |
Mexico |  | $ |  |  |  |  | 2,412 |  |  |  | 733 |  |  |  | 208 |  |  |  | 810 |  |  |  | 14 |  |  |  | (853 | ) |  |  | 3,324 |
United States |  |  |  |  |  |  | 1,731 |  |  |  | 2,479 |  |  |  | 1,005 |  |  |  | 558 |  |  |  | 13 |  |  |  | (1,431 | ) |  |  | 4,355 |
EMEAA |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United Kingdom |  |  |  |  |  |  | 270 |  |  |  | 311 |  |  |  | 377 |  |  |  | 200 |  |  |  | 53 |  |  |  | (271 | ) |  |  | 940 |
France |  |  |  |  |  |  | – |  |  |  | 682 |  |  |  | 397 |  |  |  | 6 |  |  |  | – |  |  |  | (222 | ) |  |  | 863 |
Germany |  |  |  |  |  |  | 210 |  |  |  | 204 |  |  |  | 65 |  |  |  | 30 |  |  |  | 69 |  |  |  | (149 | ) |  |  | 429 |
Poland |  |  |  |  |  |  | 272 |  |  |  | 154 |  |  |  | 38 |  |  |  | 6 |  |  |  | 1 |  |  |  | (72 | ) |  |  | 399 |
Spain |  |  |  |  |  |  | 256 |  |  |  | 93 |  |  |  | 31 |  |  |  | 23 |  |  |  | – |  |  |  | (69 | ) |  |  | 334 |
Philippines |  |  |  |  |  |  | 423 |  |  |  | – |  |  |  | – |  |  |  | 4 |  |  |  | 1 |  |  |  | (4 | ) |  |  | 424 |
Israel |  |  |  |  |  |  | – |  |  |  | 657 |  |  |  | 199 |  |  |  | 89 |  |  |  | 27 |  |  |  | (187 | ) |  |  | 785 |
Rest of EMEAA |  |  |  |  |  |  | 423 |  |  |  | 232 |  |  |  | 47 |  |  |  | 14 |  |  |  | 21 |  |  |  | (124 | ) |  |  | 613 |
SCA&C |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Colombia |  |  |  |  |  |  | 309 |  |  |  | 130 |  |  |  | 36 |  |  |  | 58 |  |  |  | 21 |  |  |  | (117 | ) |  |  | 437 |
Panama |  |  |  |  |  |  | 103 |  |  |  | 16 |  |  |  | 5 |  |  |  | 7 |  |  |  | 1 |  |  |  | (34 | ) |  |  | 98 |
Caribbean TCL |  |  |  |  |  |  | 271 |  |  |  | 5 |  |  |  | 7 |  |  |  | 4 |  |  |  | 6 |  |  |  | (20 | ) |  |  | 273 |
Dominican Republic |  |  |  |  |  |  | 240 |  |  |  | 16 |  |  |  | – |  |  |  | 44 |  |  |  | 8 |  |  |  | (17 | ) |  |  | 291 |
Rest of SCA&C |  |  |  |  |  |  | 400 |  |  |  | 20 |  |  |  | 6 |  |  |  | 24 |  |  |  | 1 |  |  |  | (7 | ) |  |  | 444 |
Reportable segments |  |  |  |  |  |  | 7,320 |  |  |  | 5,732 |  |  |  | 2,421 |  |  |  | 1,877 |  |  |  | 236 |  |  |  | (3,577 | ) |  |  | 14,009 |
Other activities |  |  |  |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | 370 |  |  |  | – |  |  |  | 370 |
Consolidated |  | $ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 14,379 |

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