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Trade Accounts Payable, Other Current Liabilities and Non-Current Liabilities | 12 Months Ended
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Dec. 31, 2024
Disclosure of Trade and other Payables [Abstract] |
Trade Accounts Payable, Other Current Liabilities and Non-Current Liabilities |
18) | TRADE ACCOUNTS PAYABLE, OTHER CURRENT LIABILITIES AND NON-CURRENT LIABILITIES
18. 1 ) | TRADE ACCOUNTS PAYABLE
Supplier Finance Agreements To enhance its supplier’s liquidity needs, Cemex has acted as mediator with financial institutions in several countries to establish productive supply chain programs, by means of which, any supplier registered under the program may elect to sell its account receivable from Cemex to the financial institution before the receivable’s agreed payment date. Any financial cost under these programs is assumed directly by Cemex’s suppliers. The accounts payable sold by the Company’s suppliers to these financial institutions are settled by Cemex at their original agreed due dates without extending the payment date further. As of December 31, 2024 and 2023, the consolidated balances of trade payables in the statements of financial position include $999 in 2024 and $972 in 2023 of trade payables outstanding under these productive supply chain programs with an average payment term of 92 days. These programs do not involve any additional cash flow risk to Cemex. The balance of any trade accounts payable would be classified as debt whenever the originally agreed payment terms would be extended using the aforementioned programs with the financial institutions. As of December 31, 2024 and 2023, there are no debt balances arising from trade accounts payable.
18. 2 ) | OTHER CURRENT LIABILITIES
As of December 31, 2024 and 2023, consolidated other current liabilities were as follows:
|  |  |  |  | 2024 |  |  | 2023 |
Other accounts payable and accrued expenses 1 |  | $ |  |  |  |  | 569 |  |  |  | 656 |
Provisions 2 |  |  |  |  |  |  | 399 |  |  |  | 492 |
Contract liabilities with customers (note 3) 3 |  |  |  |  |  |  | 269 |  |  |  | 384 |
Interest payable |  |  |  |  |  |  | 89 |  |  |  | 88 |
|  | $ |  |  |  |  | 1,326 |  |  |  | 1,620 |
1 | Other accounts payable and accrued expenses mainly refer to accrued fixed and variable employee benefits, insurance payments and accruals for public services. These amounts are revolving in nature and are expected to be settled and replaced by similar amounts within the next 12 months.
2 | Current provisions are detailed by concept in note 18.3 below.
3 | As of December 31, 2024 and 2023, contract liabilities with customers included $225 and $339, respectively, of advances received from customers, as well as in 2024 and 2023 the current portion of deferred revenues in connection with advances under long-term clinker supply agreements of $5 in both years. Note 3 includes the changes during the period of this caption.
18.3) OTHER NON-CURRENT LIABILITIES As of December 31, 2024 and 2023, consolidated other non-current liabilities were as follows:
|  |  |  |  | 2024 |  |  | 2023 |
Asset retirement obligations 1 |  | $ |  |  |  |  | 563 |  |  |  | 470 |
Environmental liabilities 2 |  |  |  |  |  |  | 203 |  |  |  | 250 |
Accruals for legal assessments and other responsibilities 3 |  |  |  |  |  |  | 95 |  |  |  | 100 |
Non-current liabilities for valuation of derivative instruments |  |  |  |  |  |  | 100 |  |  |  | 15 |
Other non-current liabilities and provisions 4 |  |  |  |  |  |  | 420 |  |  |  | 329 |
|  | $ |  |  |  |  | 1,381 |  |  |  | 1,164 |
1 | Provisions for asset retirement obligations include future estimated costs for demolition, cleaning and reforestation of production sites at the end of their operation, which are initially recognized against the related assets and are depreciated over their estimated useful life.
2 | Environmental liabilities include future estimated costs arising from legal or constructive obligations, related to cleaning, reforestation and other remedial actions to remediate damage caused to the environment. The expected average period to settle these obligations is greater than 15 years.
3 | Provisions for legal claims and other responsibilities include items related to tax contingencies.
4 | As of December 31, 2024 and 2023, the balance includes deferred revenues of $17 and $22, respectively, that are amortized to the statement of income as deliverables are fulfilled over the maturity of long-term clinker supply agreements.
Changes in consolidated non-current other liabilities plus current provisions for the years 2024 and 2023, were as follows:
|  |  |  |  | 2024 |
|  |  |  |  | Asset retirement obligations |  |  | Environmental liabilities |  |  | Accruals for legal proceedings |  |  | Valuation of derivative instruments |  |  | Other liabilities and provisions |  |  | Total |  |  | 2023 |
Balance at beginning of period |  | $ |  |  |  |  | 573 |  |  |  | 279 |  |  |  | 105 |  |  |  | 95 |  |  |  | 604 |  |  |  | 1,656 |  |  |  | 1,341 |
Additions or increase in estimates |  |  |  |  |  |  | 63 |  |  |  | 6 |  |  |  | 45 |  |  |  | 123 |  |  |  | 158 |  |  |  | 395 |  |  |  | 532 |
Releases or decrease in estimates |  |  |  |  |  |  | (12 | ) |  |  | (52 | ) |  |  | (41 | ) |  |  | (118 | ) |  |  | (95 | ) |  |  | (318 | ) |  |  | (314 | )
Accretion expense |  |  |  |  |  |  | 38 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 15 |  |  |  | 53 |  |  |  | 42 |
Foreign currency translation |  |  |  |  |  |  | 26 |  |  |  | (5 | ) |  |  | (8 | ) |  |  | — |  |  |  | (19 | ) |  |  | (6 | ) |  |  | 55 |
Balance at end of period |  | $ |  |  |  |  | 688 |  |  |  | 228 |  |  |  | 101 |  |  |  | 100 |  |  |  | 663 |  |  |  | 1,780 |  |  |  | 1,656 |
Out of which: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current provisions |  | $ |  |  |  |  | 125 |  |  |  | 25 |  |  |  | 6 |  |  |  | — |  |  |  | 243 |  |  |  | 399 |  |  |  | 492 |
Other non-current liabilities |  |  |  |  |  |  | 563 |  |  |  | 203 |  |  |  | 95 |  |  |  | 100 |  |  |  | 420 |  |  |  | 1,381 |  |  |  | 1,164 |

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