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Investments In Associates And Joint Ventures, Other Investments And Non-Current Accounts Receivable (Tables)

12 Months Ended

Dec. 31, 2023

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

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

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.