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Trade Accounts Receivable | 12 Months Ended
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Dec. 31, 2024
Disclosure [Abstract] |
Trade Accounts Receivable |
10) | TRADE ACCOUNTS RECEIVABLE
As of December 31, 2024 and 2023, consolidated trade accounts receivable consisted of:
|  |  |  |  | 2024 |  |  | 2023 |
Trade accounts receivable |  | $ |  |  |  |  | 1,659 |  |  |  | 1,841 |
Allowances for expected credit losses |  |  |  |  |  |  | (77 | ) |  |  | (90 | )
|  | $ |  |  |  |  | 1,582 |  |  |  | 1,751 |
As of December 31, 2024 and 2023, trade accounts receivable include receivables of $755 and $848, respectively, sold in several countries under outstanding trade accounts receivable securitization programs and/or factoring programs with recourse, in which generally, Cemex effectively does not surrender full control or the majority of risks and rewards associated with the trade accounts receivable sold. Therefore, the trade accounts receivable sold were not derecognized from the statement of financial position and the funded amounts to Cemex as of December 31, 2024 and 2023 of $658 and $678, respectively, were recognized within the line item of “Other financial obligations” (note 17.2). The discount granted to the acquirers of the trade accounts receivable is recorded as financial expense and amounted to $52 in 2024, $52 in 2023 and $24 in 2022. Cemex’s securitization programs are usually negotiated for periods of one to two years and are usually renewed at their maturity. Additionally, as of December 31, 2024, there are trade accounts receivable sold under factoring programs that qualify for derecognition for $54 which, considering that Cemex surrendered control and the majority of risks and rewards associated with the amount sold, the balance was derecognized from the statement of financial position As of December 31, 2024, the balances of trade accounts receivable and the allowance for Expected Credit Losses (“ECL”) were as follows:
|  |  |  |  | Accounts receivable |  |  | ECL allowance |  |  | ECL average rate |
Mexico |  | $ |  |  |  |  | 332 |  |  |  | 29 |  |  |  | 8.7 | %
United States |  |  |  |  |  |  | 542 |  |  |  | 8 |  |  |  | 1.5 | %
EMEA |  |  |  |  |  |  | 701 |  |  |  | 34 |  |  |  | 4.9 | %
SCA&C |  |  |  |  |  |  | 72 |  |  |  | 6 |  |  |  | 8.3 | %
Others |  |  |  |  |  |  | 12 |  |  |  | — |  |  |  | — |
|  | $ |  |  |  |  | 1,659 |  |  |  | 77 |  |  |  |  |
Changes in the allowance for ECL in 2024, 2023 and 2022, were as follows:
|  |  |  |  | 2024 |  |  | 2023 |  |  | 2022 |
Allowances for expected credit losses at beginning of period |  | $ |  |  |  |  | 90 |  |  |  | 91 |  |  |  | 101 |
Charged to selling expenses |  |  |  |  |  |  | 15 |  |  |  | 11 |  |  |  | 9 |
Deductions |  |  |  |  |  |  | (17 | ) |  |  | (15 | ) |  |  | (21 | )
Reclassification to assets held for sale |  |  |  |  |  |  | (6 | ) |  |  | — |  |  |  | — |
Foreign currency translation effects |  |  |  |  |  |  | (5 | ) |  |  | 3 |  |  |  | 2 |
Allowances for expected credit losses at end of period |  | $ |  |  |  |  | 77 |  |  |  | 90 |  |  |  | 91 |

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- Definition The disclosure of trade and other receivables. [Refer: Trade and other receivables] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2024-01-01 -Paragraph 10 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2024-en-r&anchor=para_10_e&doctype=Standard -URIDate 2024-03-27 + Details
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