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Property, Machinery and Equipment, Net and Assets For The Right-Of-Use, Net (Tables)

12 Months Ended

Dec. 31, 2023

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

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

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.

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

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.