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

12 Months Ended

Dec. 31, 2024

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.

)

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

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.

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.

)

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.