XML 118 R18.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Inventories
 12 Months Ended
Dec. 31, 2023
Text block [abstract]  
Inventories
12)
INVENTORIES
Inventories are valued using the lower of cost or net realizable value. The weighted average cost of inventories includes expenditures incurred in acquiring the inventories, production or conversion costs and other costs incurred in bringing them to their existing location and condition. Inventory balances are subject to impairment. When an impairment situation arises, the inventory balance is adjusted to its net realizable value against “Cost of sales.” Advances to suppliers of inventory are presented as part of other current assets.
As of December 31, 2023 and 2022, the consolidated balances of inventories were summarized
as
follows:
 
           
  2023  
     
  2022  
  
Materials and spare parts
    $          537        563  
Finished goods
         461        406  
Raw materials
         370        329  
Work-in-process
         330        284  
Inventory in transit
         91        87  
     
 
 
  
   $            1,789          1,669  
     
 
 
  
For the years ended December 31, 2023, 2022 and 2021, Cemex recognized within “Cost of sales” in the statements of income, inventory impairment losses of $7, $10 and $4, respectively.