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v3.25.1

Property, Machinery and Equipment, Net and Assets For The Right-Of-Use, Net | 12 Months Ended
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Dec. 31, 2024
Disclosure [Abstract] |
Property, Machinery and Equipment, Net and Assets For The Right-Of-Use, Net |
15) | PROPERTY, MACHINERY AND EQUIPMENT, NET AND ASSETS FOR THE RIGHT-OF-USE, NET
As of December 31, 2024 and 2023, property, machinery and equipment, net and assets for the right-of-use, net were summarized as follows:
|  |  |  |  | 2024 |  |  | 2023 |
Property, machinery and equipment, net |  | $ |  |  |  |  | 10,152 |  |  |  | 11,272 |
Assets for the right-of-use, net |  |  |  |  |  |  | 1,088 |  |  |  | 1,194 |
|  | $ |  |  |  |  | 11,240 |  |  |  | 12,466 |
15. 1 ) | PROPERTY, MACHINERY AND EQUIPMENT, NET
As of December 31, 2024, the average useful lives by category of fixed assets, which are reviewed at each reporting date, were as follows:
|  | Years
Administrative buildings |  | 31
Industrial buildings |  | 25
Machinery and equipment in plant |  | 17
Ready-mix trucks and motor vehicles |  | 11
Office equipment and other assets |  | 7
As of December 31, 2024, to the best of its knowledge, management considers that its commitments and actions in relation to climate change currently do not affect the estimated average useful lives of its property, machinery and equipment described above (note 24.3). As of December 31, 2024 and 2023, consolidated property, machinery and equipment, net and the changes in this line item during 2024 and 2023, were as follows:
|  |  |  |  | 2024 |
|  |  |  |  | Land and mineral reserves |  |  | Building |  |  | Machinery and equipment |  |  | Construction in progress 2 |  |  | Total |
Cost at beginning 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 beginning of period |  |  |  |  |  |  | 3,800 |  |  |  | 979 |  |  |  | 4,562 |  |  |  | 1,931 |  |  |  | 11,272 |
Capital expenditures |  |  |  |  |  |  | 65 |  |  |  | 99 |  |  |  | 695 |  |  |  | 182 |  |  |  | 1,041 |
Stripping costs 1 |  |  |  |  |  |  | 49 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 49 |
Total capital expenditures |  |  |  |  |  |  | 114 |  |  |  | 99 |  |  |  | 695 |  |  |  | 182 |  |  |  | 1,090 |
Ordinary sales 3 |  |  |  |  |  |  | (42) |  |  |  | (4) |  |  |  | (44) |  |  |  | — |  |  |  | (90) |
Divestitures and reclassifications 4 |  |  |  |  |  |  | (67) |  |  |  | (62) |  |  |  | (205) |  |  |  | (359) |  |  |  | (693) |
Business combinations (note 4.1) |  |  |  |  |  |  | — |  |  |  | — |  |  |  | 2 |  |  |  | — |  |  |  | 2 |
Depreciation and depletion for the period |  |  |  |  |  |  | (34) |  |  |  | (33) |  |  |  | (738) |  |  |  | — |  |  |  | (805) |
Impairment losses (note 7) |  |  |  |  |  |  | (36) |  |  |  | (26) |  |  |  | (60) |  |  |  | — |  |  |  | (122) |
Asset retirement obligations (note 18.3) |  |  |  |  |  |  | — |  |  |  | 15 |  |  |  | 48 |  |  |  | — |  |  |  | 63 |
Foreign currency translation effects |  |  |  |  |  |  | (244) |  |  |  | (77) |  |  |  | 112 |  |  |  | (356) |  |  |  | (565) |
Cost at end of period |  |  |  |  |  |  | 5,120 |  |  |  | 2,426 |  |  |  | 11,962 |  |  |  | 1,398 |  |  |  | 20,906 |
Accumulated depreciation and depletion |  |  |  |  |  |  | (1,629) |  |  |  | (1,535) |  |  |  | (7,590) |  |  |  | — |  |  |  | (10,754) |
Net book value at end of period |  | $ |  |  |  |  | 3,491 |  |  |  | 891 |  |  |  | 4,372 |  |  |  | 1,398 |  |  |  | 10,152 |
|  |  |  |  | 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 |
Ordinary sales 3 |  |  |  |  |  |  | (31) |  |  |  | (2) |  |  |  | (75) |  |  |  | — |  |  |  | (108) |
Business combinations (note 4.1) |  |  |  |  |  |  | 13 |  |  |  | 4 |  |  |  | 22 |  |  |  | — |  |  |  | 39 |
Depreciation and depletion for the period |  |  |  |  |  |  | (140) |  |  |  | (74) |  |  |  | (628) |  |  |  | — |  |  |  | (842) |
Impairment losses (note 7) |  |  |  |  |  |  | (16) |  |  |  | (2) |  |  |  | (18) |  |  |  | — |  |  |  | (36) |
Asset retirement obligations (note 18.3) |  |  |  |  |  |  | — |  |  |  | 20 |  |  |  | 44 |  |  |  | — |  |  |  | 64 |
Foreign currency translation effects |  |  |  |  |  |  | 398 |  |  |  | 118 |  |  |  | 344 |  |  |  | 63 |  |  |  | 923 |
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 |
1 | All waste removal costs or stripping costs incurred in the operative phase of surface mines to access the mineral reserves are recognized as part of their carrying amount. The capitalized amounts are subsequently amortized over the expected useful life of exposed ore body based on the units-of-production method.
2 | As of December 31, 2024, in connection with the cement plant located in the municipality of Maceo in Colombia (the “Maceo Plant”) with an annual capacity of 1.3 million tons of cement, Cemex is performing the last infrastructure works required at the Maceo Plant to initiate commercial operations during 2025, including the access road to the plant, among others. There are also several ongoing processes for the proper operation of the assets and other legal proceedings (note 25.3). As of December 31, 2024, the carrying amount of the Maceo Plant is for an amount in Colombian Pesos equivalent to $335.
3 | In 2024 includes sales of non-strategic fixed assets in the United States and the United Kingdom for $69 and $7, respectively, among others. In 2023 includes sales of non-strategic fixed assets in the United States and France for $23 and $16, respectively, among others.
4 | In 2024 includes the reclassification to assets held for sale of the Dominican Republic operations for $115, as well as the divestiture of the operations in the Philippines and Guatemala for $542 and $36, respectively (note 4.2).
During the years ended December 31, 2024, 2023 and 2022 impairment losses of fixed assets by operating segment are as follows:
|  |  |  |  | 2024 |  |  | 2023 |  |  | 2022 |
France |  | $ |  |  |  |  | 45 |  |  |  | 6 |  |  |  | — |
United States |  |  |  |  |  |  | 24 |  |  |  | 3 |  |  |  | 26 |
Caribbean TCL |  |  |  |  |  |  | 16 |  |  |  | 7 |  |  |  | 14 |
Spain |  |  |  |  |  |  | 15 |  |  |  | 2 |  |  |  | 23 |
United Kingdom |  |  |  |  |  |  | 9 |  |  |  | 5 |  |  |  | 10 |
Others |  |  |  |  |  |  | 13 |  |  |  | 13 |  |  |  | 4 |
|  | $ |  |  |  |  | 122 |  |  |  | 36 |  |  |  | 77 |
In connection with the impairment losses presented in the table above, recognized within the line item of “Other expenses, net” (notes 7 and 29.5). The impairment losses of fixed assets recognized in 2024, 2023 and 2022 relate mainly to: a) closing and/or reduction of operations resulting from adjusting the supply to current demand conditions; b) a change of operating model of certain assets; c) material decrease in real estate prices; and d) inactivity over long periods. In addition, during 2022, certain impairment losses were associated also with some negative effects of the COVID-19 Pandemic initiated in 2020, as a result of which, Cemex closed certain assets that will remain closed for the foreseeable future in relation to the estimated sales volumes and the Company’s ability to supply demand by achieving efficiencies in other operating assets. During 2024, 2023 and 2022 there were no reversal of impairment charges recognized in prior years.
15. 2 ) | ASSETS FOR THE RIGHT-OF-USE, NET
As of December 31, 2024 and 2023, consolidated assets for the right-of-use, net and the changes in this caption during 2024 and 2023, were as follows:
|  |  |  |  |  |  |  | 2024 |  |  |  |  |  |  |
|  |  |  |  | Land |  |  | Buildings |  |  | Machinery and equipment |  |  | Others |  |  | Total |
Assets for the right-of-use at beginning of period |  | $ |  |  |  |  | 476 |  |  |  | 356 |  |  |  | 1,722 |  |  |  | 58 |  |  |  | 2,612 |
Accumulated depreciation |  |  |  |  |  |  | (155 | ) |  |  | (234 | ) |  |  | (985 | ) |  |  | (44 | ) |  |  | (1,418 | )
Net book value at beginning of period |  |  |  |  |  |  | 321 |  |  |  | 122 |  |  |  | 737 |  |  |  | 14 |  |  |  | 1,194 |
Additions of new leases |  |  |  |  |  |  | 24 |  |  |  | 76 |  |  |  | 171 |  |  |  | 19 |  |  |  | 290 |
Cancellations and remeasurements, net |  |  |  |  |  |  | (22 | ) |  |  | (2 | ) |  |  | (16 | ) |  |  | (2 | ) |  |  | (42 | )
Divestitures and reclassifications (note 4.2) |  |  |  |  |  |  | (34 | ) |  |  | (3 | ) |  |  | (4 | ) |  |  | — |  |  |  | (41 | )
Business combinations (note 4.1) |  |  |  |  |  |  | 6 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 6 |
Depreciation |  |  |  |  |  |  | (34 | ) |  |  | (36 | ) |  |  | (177 | ) |  |  | (13 | ) |  |  | (260 | )
Foreign currency translation effects |  |  |  |  |  |  | (16 | ) |  |  | 18 |  |  |  | (67 | ) |  |  | 6 |  |  |  | (59 | )
Assets for the right-of-use at end of period |  |  |  |  |  |  | 456 |  |  |  | 365 |  |  |  | 1,571 |  |  |  | 69 |  |  |  | 2,461 |
Accumulated depreciation |  |  |  |  |  |  | (211 | ) |  |  | (190 | ) |  |  | (927 | ) |  |  | (45 | ) |  |  | (1,373 | )
Net book value at end of period |  | $ |  |  |  |  | 245 |  |  |  | 175 |  |  |  | 644 |  |  |  | 24 |  |  |  | 1,088 |
|  |  |  |  | 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 |  |  |  |  |  |  | (14 | ) |  |  | (32 | ) |  |  | (135 | ) |  |  | (12 | ) |  |  | (193 | )
Foreign currency translation effects |  |  |  |  |  |  | 12 |  |  |  | 17 |  |  |  | (74 | ) |  |  | (8 | ) |  |  | (53 | )
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 |
For the years ended December 31, 2024, 2023 and 2022, the combined rental expense related with short-term leases, leases of low-value assets and variable lease payments were $128, $135 and $106, 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.

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