XML 157 R50.htm IDEA: XBRL DOCUMENT

Investments In Associates And Joint Ventures, Other Investments And Non-Current Accounts Receivable (Tables)

12 Months Ended

Dec. 31, 2024

Summary of Main Investments in Common Shares of Associates

As of December 31, 2024 and 2023, the investments in common shares of associates and joint ventures, which are accounted under the equity method, were as follows:


Associates	Activity		Country		%			2024		2023
Camcem, S.A. de C.V.		Cement		Mexico		40.1	$		393		364
Concrete Supply Co. LLC		Concrete		United States		40.0			111		103
Lehigh White Cement Company		Cement		United States		36.8			85		83
Couch Aggregates, LLC 1		Aggregates		United States		49.0			55		—
Neoris N.V. 2		Technology		The Netherlands		34.8			—		69
Joint ventures
Société d’Exploitation de Carrières		Aggregates		France		50.0			23		24
Société Méridionale de Carrières		Aggregates		France		33.3			12		13
Other companies		—		—		—			74		73

							$		753		729

Out of which:
Acquisition cost							$		388		330
Equity method recognition									365		399

On July 12, 2024, Cemex acquired a

non-controlling

interest in a newly formed entity which specializes in aggregates production and marine distribution in the

Mid-South

region of the United States and operates seven aggregate pits and four marine terminals. This transaction is part of Cemex’s ongoing strategy to accelerate growth and expand its aggregates business in the country, increasing Cemex’s presence in this growing market.

2	On November 1, 2024, Cemex sold its 34.8% equity interest in Neoris (note 4.2)

Summary of Combined Condensed Statements of Financial Position

The combined condensed statements of financial position of associates and joint ventures as of December 31, 2024 and 2023 are set forth below:


		2024		2023
Current assets	$		1,755		1,761
Non-current assets			2,108		1,877

Total assets 1			3,863		3,638

Current liabilities			492		468
Non-current liabilities			859		850

Total liabilities 1			1,351		1,318

Total net assets	$		2,512		2,320

1	Out of total assets in 2024 and 2023 of the table above, Camcem, S.A. de C.V. (“Camcem”), holding company of GCC, S.A.B. de C.V., represented 78% and 76%, respectively. In addition, out of total liabilities, Camcem represented 79% in 2024 and 77% in 2023.

Summary of Combined Selected Information of the Statements of Income

Combined selected information of the statements of income of associates and joint ventures in 2024, 2023 and 2022 is set forth below:


		2024		2023		2022
Revenues	$		2,098		2,410		2,319
Operating earnings			440		535		398
Income before income tax			320		394		268
Net income 1			211		268		186

1	Out of net income in the table above, caption that Cemex accounts under the equity method, Camcem represented 68% in 2024, 59% in 2023 and 53% in 2022.

Summary of Share of Profit of Associates and Joint Ventures by Reportable Segment

The share of associates and joint ventures by reportable segment in the statements of income for 2024, 2023 and 2022 are detailed as follows:


		2024		2023		2022
Mexico	$		68		65		39
United States			17		21		17
EMEA			8		10		8
Corporate and others			—		2		(34	)

	$		93		98		30

Summary of Other Investments and Non-current Accounts Receivable

As of December 31, 2024 and 2023, consolidated other investments and

non-current

accounts receivable were summarized as follows:

		2024		2023
Non-current accounts receivable 1	$		191		272
Non-current portion of assets from valuation of derivative financial instruments (note 17.4)			60		64
Investments in strategic equity securities			4		3
Investments at fair value through the statements of income			1		1

	$		256		340

Includes, among other items: a) accounts receivable from equity investments and joint ventures of $44 in 2024 and $78 in 2023, b) advances to suppliers of fixed assets of $28 in 2024 and $41 in 2023, c) employee prepaid compensation of $11 in 2024 and $8 in 2023 and, d) warranty deposits of $11 in 2024 and $24 in 2023.