0001193125-24-119054 | 20-F | XBRL Viewer

Financial Items

8)	FINANCIAL ITEMS

8.1)	FINANCIAL EXPENSE

Consolidated financial expenses represent the interest on Cemex’s debt measured using the effective interest rate and, in 2023, 2022 and 2021, include $75, $67 and $67 of interest expense related to the Company’s lease contracts (notes 15.2 and 17.2). From the previously reported amounts for the years 2022 and 2021, Cemex reclassified from the caption of “Financial expense” to the line item of “Financial income and other items, net”, an income of $104 and an expense of $82, respectively, corresponding to results associated with the early redemption of debt during those years (note 17.1), considering it contributes to an improved analysis of the financial expense and to conform with the classification of these effects in 2023.

8.2)	FINANCIAL INCOME AND OTHER ITEMS, NET

The detail of financial income and other items, net in 2023, 2022 and 2021 was as follows:


		2023			2022			2021
Foreign exchange results	$		144			73			(35	)
Financial income			40			27			22
Results from financial instruments, net (notes 14.2 and 17.4) 1			(65	)		99			(88	)
Net interest cost of defined benefit liabilities (note 19)			(44	)		(29	)		(31	)
Effects of amortized cost on assets and liabilities			(42	)		(32	)		(28	)
Others			–			13			(1	)

	$		33			151			(161	)

1	For the years 2022 and 2021, includes the reclassification described in note 8.1.

Pensions and Post-Employment Benefits - Summary of Significant Assumptions Used in the Determination of the Benefit Obligation (Detail)	Dec. 31, 2023	Dec. 31, 2022
Mexico [member]
Disclosure of defined benefit plans [line items]
Discount rates	10.50%	10.50%
Rate of return on plan assets	10.50%	10.50%
Rate of salary increases	4.50%	4.50%
United States [member]
Disclosure of defined benefit plans [line items]
Discount rates	5.20%	5.50%
Rate of return on plan assets	5.20%	5.50%
United Kingdom [member]
Disclosure of defined benefit plans [line items]
Discount rates	4.70%	5.00%
Rate of return on plan assets	4.70%	5.00%
Rate of salary increases	3.10%	3.25%
Top of range [member] \| Other countries [member]
Disclosure of defined benefit plans [line items]
Discount rates	11.00%	13.00%
Rate of return on plan assets	11.00%	13.00%
Rate of salary increases	7.30%	7.30%
Bottom of range [member] \| Other countries [member]
Disclosure of defined benefit plans [line items]
Discount rates	3.10%	3.60%
Rate of return on plan assets	3.10%	3.60%
Rate of salary increases	2.50%	2.50%

Earnings (Loss) Per Share (Tables)

12 Months Ended

Dec. 31, 2023

Summary of Calculations of Earnings per Share

The amounts considered for calculations of earnings (loss) per share in 2023, 2022 and 2021 were as follows:


		2023		2022		2021

Denominator (thousands of shares)
Weighted-average number of shares outstanding – basic			43,510,758		43,554,921		44,123,654
Effect of dilutive instruments – share-based compensation (note 22) 1			599,229		793,322		729,292

Weighted-average number of shares – diluted			44,109,987		44,348,243		44,852,946

Numerator
Net income from continuing operations	$		199		561		817
Less: non-controlling interest net income			17		27		25

Controlling interest net income from continuing operations	$		182		534		792

Net income (loss) from discontinued operations	$		–		324		(39	)

Controlling interest basic earnings (loss) per share
Controlling interest basic earnings per share	$		0.0042		0.0197		0.0171
Controlling interest basic earnings per share from continuing operations			0.0042		0.0123		0.0180
Controlling interest basic earnings (loss) per share from discontinued operations			–		0.0074		(0.0009	)

Controlling interest diluted earnings (loss) per share
Controlling interest diluted earnings per share	$		0.0041		0.0193		0.0168
Controlling interest diluted earnings per share from continuing operations			0.0041		0.0120		0.0177
Controlling interest diluted earnings (loss) per share from discontinued operations			–		0.0073		(0.0009	)

1	Number of the Parent Company’s shares to be potentially issued under the Share- Based Compensation Programs to be delivered to the executives equivalent to 199.7 million CPOs or 19.97 million ADSs.

Goodwill and Intangible Assets, Net - Summary of Changes in intangible Asset (Detail) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Disclosure of detailed information about intangible assets [line items]

$ 1,755

$ 1,779

Impairment losses (note 7)

(155)

(138)

(7)

Business combinations (note 4.1)

^[1]

207

151

(37)

Extraction rights [member]

1,856

1,755

Disclosure of detailed information about intangible assets [line items]

1,277

1,350

Impairment losses (note 7)

(42)

(44)

(7)

Business combinations (note 4.1)

^[1]

(10)

(19)

Industrial property and trademarks [member]

1,289

1,277

Disclosure of detailed information about intangible assets [line items]

286

228

(91)

(73)

^[1]

148

136

(9)

(5)

Disclosure of detailed information about intangible assets [line items]

334

286

Mining projects [member]

(1)

^[1]

(10)

(1)

Internally developed software [member]

Disclosure of detailed information about intangible assets [line items]

(1)

(7)

^[1]

(2)

Others intangible assets [Member]

Disclosure of detailed information about intangible assets [line items]

142

133

(20)

(13)

^[1]

(13)

$ 177

$ 142

[1]	Includes the capitalized direct costs incurred in the development stage of internal-use software, such as professional fees, direct labor and related travel expenses. The capitalized amounts are amortized to the statement of income over a period ranging from 3 to 5 years.

Pensions and Post-Employment Benefits - Schedule of Reconciliations of the Actuarial Benefits Obligations, Pension Plan Assets, And Liabilities Recognized in the Balance Sheet (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of defined benefit plans [line items]
Projected benefit obligation at beginning of the period	$ 1,903	$ 2,783
Service cost	11	12	$ 12
Interest cost	109	72
Actuarial losses (gains)	29	(642)
Initial valuation from new plan	0	13
Reduction from disposal of assets	0	(6)
Settlements and curtailments	(2)	0
Plan amendments	(11)	1
Benefits paid	(130)	(137)
Foreign currency translation	101	(193)
Projected benefit obligation at end of the period	2,010	1,903	2,783
Fair value of plan assets at beginning of the period	1,208	1,784
Return on plan assets	65	43
Actuarial losses	(16)	(466)
Employer contributions	105	103
Initial valuation from new plan	0	13
Settlements	(2)	0
Benefits paid	(130)	(137)
Foreign currency translation	45	(132)
Fair value of plan assets at end of the period	1,275	1,208	1,784
Net projected liability in the statement of financial position	735	695
Pension defined benefit plans [member]
Disclosure of defined benefit plans [line items]
Projected benefit obligation at beginning of the period	1,811	2,685
Service cost	7	8	9
Interest cost	101	66
Actuarial losses (gains)	30	(632)
Initial valuation from new plan	0	13
Reduction from disposal of assets	0	(6)
Settlements and curtailments	(2)	0
Plan amendments	(10)	1
Benefits paid	(122)	(130)
Foreign currency translation	94	(194)
Projected benefit obligation at end of the period	1,909	1,811	2,685
Fair value of plan assets at beginning of the period	1,207	1,783
Return on plan assets	65	43
Actuarial losses	(16)	(466)
Employer contributions	97	96
Initial valuation from new plan	0	13
Settlements	(2)	0
Benefits paid	(122)	(130)
Foreign currency translation	44	(132)
Fair value of plan assets at end of the period	1,273	1,207	1,783
Net projected liability in the statement of financial position	636	604
Other Benefits Plans [Member]
Disclosure of defined benefit plans [line items]
Projected benefit obligation at beginning of the period	92	98
Service cost	4	4	3
Interest cost	8	6
Actuarial losses (gains)	(1)	(10)
Initial valuation from new plan	0	0
Reduction from disposal of assets	0	0
Settlements and curtailments	0	0
Plan amendments	(1)	0
Benefits paid	(8)	(7)
Foreign currency translation	7	1
Projected benefit obligation at end of the period	101	92	98
Fair value of plan assets at beginning of the period	1	1
Return on plan assets	0	0
Actuarial losses	0	0
Employer contributions	8	7
Initial valuation from new plan	0	0
Settlements	0	0
Benefits paid	(8)	(7)
Foreign currency translation	1	0
Fair value of plan assets at end of the period	2	1	$ 1
Net projected liability in the statement of financial position	$ 99	$ 91

Other Current Assets

12 Months Ended

Dec. 31, 2023

Other Current Assets

13)	OTHER CURRENT ASSETS

As of December 31, 2023 and 2022, assets held for sale and other current assets were detailed as follows:


		2023		2022
Other current assets	$		142		115
Assets held for sale			49		68

	$		191		183

Assets held for sale are measured at the lower of their estimated realizable value, less costs to sell, and their carrying amounts.

Other current assets presented above are mainly comprised of advance payments to suppliers.

Financial Instruments - Additional Information - Derivative Financial Instruments (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Nov. 30, 2023	Oct. 30, 2023
Disclosure of detailed information about financial instruments [line items]
Gains and (losses) related to recognition of changes in fair values of the derivative instruments	$ (19.0)	$ (5.0)	$ (6.0)
Mexican Peso Floating Rates [member]
Disclosure of detailed information about financial instruments [line items]
Payments on Contract	3.0
Currency swap contract [member]
Disclosure of detailed information about financial instruments [line items]
Derivative financial instrument, Notional amount						$ 335.0
Gain (loss) due to changes in estimated fair value	23.0
Reclassification adjustments on cash flow hedges, net of tax	5.0
Currency swap contract [member] \| Euro denominated [Member]
Disclosure of detailed information about financial instruments [line items]
Derivative financial instrument, Notional amount			750.0
Net foreign exchange loss			1.0
Net foreign exchange gain	70.0	8.0	10.0
Debt Instrument Settlement Gains	80.0
Foreign Exchange Options [Member]
Disclosure of detailed information about financial instruments [line items]
Derivative financial instrument, Notional amount	$ 300.0	500.0
Financial Income And Other Items [Member] \| Peso Denominated Value [Member]
Disclosure of detailed information about financial instruments [line items]
Derivative contracts maturity date	June 2025
Financial Income And Other Items [Member] \| Foreign Exchange Options [Member]
Disclosure of detailed information about financial instruments [line items]
Changes in the fair value of these instruments	$ 18.0	13.0	5.0
Financial Income And Other Items [Member] \| Foreign Exchange Options [Member] \| Peso Denominated Value [Member]
Disclosure of detailed information about financial instruments [line items]
Derivative contracts maturity date	December 2025
Fuel Price Forward Contracts [member]
Disclosure of detailed information about financial instruments [line items]
Derivative financial instrument, Notional amount	$ 110.0	136.0
Financial liabilities at estimated fair value	1.0	8.0
Gain (loss) due to changes in estimated fair value	6.0	25.0	22.0
Fuel Price Forward Contracts [member] \| Operating Expense [Member]
Disclosure of detailed information about financial instruments [line items]
Reclassification adjustments on cash flow hedges, net of tax	7.0	88.0	36.0
Fuel Price Forward Contracts [member] \| Financial Income And Other Items [Member]
Disclosure of detailed information about financial instruments [line items]
Changes in the fair value of these instruments	1.0
Fuel Price Forward Contracts [member] \| Cemex Brent Oil [Member]
Disclosure of detailed information about financial instruments [line items]
Derivative financial instrument, Notional amount	122.0
Net Investment Hedges [member] \| Forward Contract [Member]
Disclosure of detailed information about financial instruments [line items]
Derivative financial instrument, Notional amount	518.0		738.0
Net foreign exchange gain (loss)	(172.0)	96.0		$ 4.0
Net Investment Hedges [member] \| Capped Forwards With Option Contracts [Member] \| Peso Denominated Value [Member]
Disclosure of detailed information about financial instruments [line items]
Derivative financial instrument, Notional amount	458.0	99.0
Net foreign exchange loss	$ 54.0	2.0
Net Investment Hedges [member] \| Top of range [member] \| Forward Contract [Member] \| Peso Denominated Value [Member]
Disclosure of detailed information about financial instruments [line items]
BorrowingsMaturityPeriod	15 months
Net Investment Hedges [member] \| Bottom of range [member] \| Forward Contract [Member] \| Peso Denominated Value [Member]
Disclosure of detailed information about financial instruments [line items]
BorrowingsMaturityPeriod	1 month
Interest Rate Swap Contract [Member] \| Finance Expense [Member] \| Peso Floating Rates [Member]
Disclosure of detailed information about financial instruments [line items]
Reclassification adjustments on cash flow hedges, net of tax	$ 18.0	7.0	0.3
Interest Rate Swap Contract [Member] \| Loans from banks at floating interest rate [member]
Disclosure of detailed information about financial instruments [line items]
Derivative financial instrument, Notional amount	750.0	750.0
Financial assets at fair value through profit or loss					$ 5.0
Gain (loss) due to changes in estimated fair value	9.0	69.0	23.0
Reclassification adjustments on cash flow hedges, net of tax		39.0
Interest Rate Swap Contract [Member] \| Loans from banks at floating interest rate [member] \| Peso Floating Rates [Member]
Disclosure of detailed information about financial instruments [line items]
Gain (loss) due to changes in estimated fair value	15.0	3.0	15.0
Interest Rate Swap Contract [Member] \| Loans from banks at floating interest rate [member] \| Finance Expense [Member]
Disclosure of detailed information about financial instruments [line items]
Reclassification adjustments on cash flow hedges, net of tax	30.0
Interest Rate Swaps [member] \| Mexican Peso Floating Rates [member]
Disclosure of detailed information about financial instruments [line items]
Derivative financial instrument, Notional amount	268.0
Financial assets at estimated fair value		15.0
Interest Rate Swaps [member] \| Loans from banks at floating interest rate [member] \| Finance Expense [Member]
Disclosure of detailed information about financial instruments [line items]
Reclassification adjustments on cash flow hedges, net of tax	$ 22.0	$ 2.0	$ 22.0

Revenue - Additional Information (Detail)	12 Months Ended
Revenue - Additional Information (Detail)	Dec. 31, 2023
Bottom of range [member]
Disclosure of revenue [line items]
Customers credit term	15 days
Top of range [member]
Disclosure of revenue [line items]
Customers credit term	90 days

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Summary of Income Tax Expense

The amounts of income tax expense in the statements of income for 2023, 2022 and 2021 are summarized as follows:


		2023		2022		2021
Current income tax expense	$		1,147		170		172
Deferred income tax expense (benefit)			103		39		(35	)

	$		1,250		209		137

Summary of Temporary Differences in Deferred Income Tax Assets and Liabilities

As of December 31, 2023 and 2022, the main temporary differences that generated the consolidated deferred income tax assets and liabilities are presented below:


		2023			2022
Deferred tax assets:
Tax loss carryforwards and other tax credits	$		445			561
Accounts payable and accrued expenses			883			734
Intangible assets, net			192			140
Others			11			20

Total deferred tax assets, gross			1,531			1,455
Presentation of net position by same legal entity			(1,168	)		(1,044	)

			363			411

Deferred tax liabilities:
Property, machinery and equipment and right-of-use asset, net			(1,470	)		(1,406	)
Investments and other assets			(141	)		(32	)

Total deferred tax liabilities, gross			(1,611	)		(1,438	)
Presentation of net position by same legal entity			1,168			1,044

Total deferred tax liabilities, net in the statement of financial position			(443	)		(394	)

Net deferred tax assets (liabilities)	$		(80	)		17

Out of which:
Net deferred tax assets (liabilities) in Mexican entities	$		67			(17	)
Net deferred tax assets (liabilities) in foreign entities			(147	)		34

Net deferred tax assets (liabilities)	$		(80	)		17

Summary of the Balances of the Deferred tax Assets and Liabilities in Statement of Financial Position

As of December 31, 2023 and 2022, balances of the deferred tax assets and liabilities included in the statement of financial position are located in the following entities:


		2023							2022


		Assets		Liabilities		Net			Assets		Liabilities		Net

Mexican entities	$		185		(118)		67	$		168		(185)		(17)
Foreign entities			178		(325)		(147)			243		(209)		34

	$		363		(443)		(80)	$		411		(394)		17

Summary of Breakdown of Changes in Consolidated Deferred Income Taxes

The breakdown of changes in consolidated deferred income taxes during 2023, 2022 and 2021 was as follows:


		2023			2022		2021

Deferred income tax expense (benefit) in the statement of income	$		103			39		(35)
Deferred income tax (benefit) expense in stockholders’ equity			(6	)		14		(38)
Reclassifications 1			–			7		78

Change in deferred income tax during the period	$		97			60		5

1	In 2022 and 2021, refers to the effects of the reclassification of balances to assets held for sale and related liabilities (note 4.2).

Summary of Current and Deferred Income Tax Relative to Items of Other Comprehensive Income Loss

Current and/or deferred income tax relative to items of other comprehensive income during 2023, 2022 and 2021 were as follows:


		2023		2022		2021

Expense (benefit) related to foreign exchange fluctuations from intercompany balances (note 21.2)	$		5		–		(6)
Expense (benefit) associated to actuarial results (note 21.2)			(5)		32		26
Benefit related to derivative financial instruments (note 17.4)			(41)		(30)		(1)
Expense (benefit) from foreign currency translation and other effects			35		12		(63)

	$		(6)		14		(44)

Schedule of Consolidated Tax Loss and Tax Credits Carry Forwards Expire

As of December 31, 2023, consolidated tax loss and tax credits carryforwards expire as follows:


		Amount of carryforwards		Amount of unrecognized carryforwards		Amount of recognized carryforwards

2024	$		29		29		–
2025			48		46		2
2026			141		131		10
2027			318		286		32
2028 and thereafter			7,591		5,839		1,752

	$		8,127		6,331		1,796

Schedule of Effective Tax Rate Table

For the years ended December 31, 2023, 2022 and 2021, the effective consolidated income tax rates were as follows:


		2023			2022			2021

Earnings before income tax	$		1,449			770			954
Income tax expense			(1,250	)		(209	)		(137)

Effective consolidated income tax expense rate 1			86.3	%		27.1	%		14.4%

1	The average effective tax rate equals the net amount of income tax benefit or expense divided by income or loss before income taxes, as these line items are reported in the statements of income.

Schedule of Reconciliation Between Actual Income Tax Expense and Amount Computed by Applying Statutory Tax Rate

Differences between the financial reporting and the corresponding tax basis of assets and liabilities and the different income tax rates and laws applicable to Cemex, among other factors, give rise to permanent differences between the statutory tax rate applicable in Mexico, and the effective tax rate presented in the consolidated statements of income, which in 2023, 2022 and 2021 were as follows:


	2023						2022						2021

	%			$			%			$			%			$

Mexican statutory tax rate		30.0			435			30.0			231			30.0			280
Income tax penalties in Spain (note 20.4)		42.8			620			–			–			–			–
Difference between accounting and tax expenses, net 1		0.4			6			35.8			276			4.8			45
Non-taxable sale of equity securities and fixed assets		(1.2	)		(17	)		3.4			26			(3.8	)		(35	)
Difference between book and tax inflation		8.3			120			28.2			217			23.9			223
Differences in the income tax rates in the countries where Cemex operates 2		7.1			103			(6.2	)		(48	)		4.7			44
Changes in deferred tax assets 3		(3.9	)		(57	)		(59.7	)		(460	)		(48.7	)		(454	)
Changes in provisions for uncertain tax positions		0.1			1			(5.1	)		(39	)		2.6			24
Others		2.7			39			0.7			6			0.9			10

Effective consolidated income tax expense rate		86.3			1,250			27.1			209			14.4			137

1	In 2022, it includes $365, related to the effects of the impairment charges during the period which are basically non-deductible (note 7).

2	Refers mainly to the effects of the differences between the statutory income tax rate in Mexico of 30% and the applicable income tax rates of each country where Cemex operates. In 2021, it includes the effect related to the change in statutory tax rate in Colombia from 30% to 35%.

3	Refers to the effects in the effective income tax rate associated with changes during the period in the amount of deferred income tax assets related to Cemex’s tax loss carryforwards.

Schedule of Variations Between the Line Item Changes in Deferred Tax Assets Against the Changes in Deferred Tax Assets in the Balance Sheet

The following table compares the line item “Changes in deferred tax assets” as presented in the table above against the changes in deferred tax assets in the statement of financial position for the years ended December 31, 2023 and 2022:


		2023				2022

		Changes in the statement of financial position		Amounts in reconciliation		Changes in the statement of financial position		Amounts in reconciliation

Tax loss carryforwards generated and not recognized during the year	$		–		45		–		38
Derecognition related to tax loss carryforwards recognized in prior years			(125)		–		(103)		–
Recognition related to unrecognized tax loss carryforwards			12		(105)		16		(498)
Foreign currency translation and other effects			(3)		3		(14)		–

Changes in deferred tax assets	$		(116)		(57)		(101)		(460)

Schedule of Unrecognized Tax Benefits

A summary of the beginning and ending amount of unrecognized tax benefits for the years ended December 31, 2023, 2022 and 2021, excluding interest and penalties, is as follows:


		2023			2022			2021

Balance of tax positions at beginning of the period	$		41			48			27
Additions for tax positions of prior periods			34			5			4
Additions for tax positions of current period			3			5			27
Reductions for tax positions related to prior periods and other items			(1	)		(11	)		(2)
Settlements and reclassifications			–			(4	)		(5)
Expiration of the statute of limitations			(2	)		(2	)		(2)
Foreign currency translation effects			3			–			(1)

Balance of tax positions at end of the period	$		78			41			48

Financial Instruments - Additional Information - Credit Agreement, Facilities Agreement and Financing Agreement (Detail) $ in Millions			12 Months Ended
	Oct. 30, 2023 USD ($)	Nov. 08, 2021 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Disclosure of detailed information about financial instruments [line items]
Long Term debt			$ 6,203	$ 6,920
Repayments of current borrowings			3,840	2,420	$ 5,897
Borrowings			$ 6,228	$ 6,971	$ 7,379	$ 9,339
Securitization programs [member]
Disclosure of detailed information about financial instruments [line items]
Line of credit ,Interest basis Points			0.0005
Interbank Equilibrium Interest Rate [Member]
Disclosure of detailed information about financial instruments [line items]
Interest rate			11.50%	10.77%
Secured Overnight Financing Rate [Member]
Disclosure of detailed information about financial instruments [line items]
Interest rate			5.38%
Two Thousand Twenty One Credit Agreement [Member]
Disclosure of detailed information about financial instruments [line items]
Repayments of current borrowings		$ 3,250
Two Thousand Twenty One Credit Agreement [Member] \| Five year amortizing term loan [Member]
Disclosure of detailed information about financial instruments [line items]
Line of credit ,Maximum Amount	$ 1,000
Two Thousand Twenty One Credit Agreement [Member] \| Five year committed Revolving Credit Facility [Member]
Disclosure of detailed information about financial instruments [line items]
Line of credit ,Maximum Amount	$ 2,000
Two Thousand Twenty Three Credit Agreement [Member]
Disclosure of detailed information about financial instruments [line items]
Line of credit Leverage Ratio Description			3.75 times and a minimum Consolidated Coverage Ratio of 2.75
Total adjustment of the interest rate margin description			interest rate margin of plus or minus 5 bps
Borrowings			$ 1,600
Debt arising from bank loan			3,876
Consolidated leverage ratio	3.75%
Consolidated coverage ratio	2.75%
Two Thousand Twenty Three Credit Agreement [Member] \| Five year amortizing term loan [Member]
Disclosure of detailed information about financial instruments [line items]
Line of credit ,Expiration period	5 years
Reduction in line of credit maximum amount	$ 500
Two Thousand Twenty Three Credit Agreement [Member] \| Five year committed Revolving Credit Facility [Member]
Disclosure of detailed information about financial instruments [line items]
Line of credit ,Expiration period	5 years
Reduction in line of credit maximum amount	$ 250
Two Thousand Twenty Three Credit Agreement [Member] \| Revolving Credit Facility [Member]
Disclosure of detailed information about financial instruments [line items]
Borrowings			600
CEMEX Sab De CV Variable Interest Rate Two Thousand And Twenty Six Notes [Member]
Disclosure of detailed information about financial instruments [line items]
Long Term debt			$ 59
Line of credit ,Interest basis Points			0.0020
CEMEX Sab De CV Fixed Rate Two Thousand And Thirty Notes [Member]
Disclosure of detailed information about financial instruments [line items]
Long Term debt			$ 292
Line of credit ,Interest basis Points			0.0025
Bottom of range [member] \| Two Thousand Twenty Three Credit Agreement [Member]
Disclosure of detailed information about financial instruments [line items]
Line of credit ,Interest basis Points			0.0100
Consolidated leverage ratio			2.25%
Bottom of range [member] \| Credit agreement [member]
Disclosure of detailed information about financial instruments [line items]
Interest rate			5.36%
Top of range [member] \| Two Thousand Twenty Three Credit Agreement [Member]
Disclosure of detailed information about financial instruments [line items]
Line of credit ,Interest basis Points			0.0175
Consolidated leverage ratio			3.25%
Top of range [member] \| Credit agreement [member]
Disclosure of detailed information about financial instruments [line items]
Interest rate			6.56%

Commitments (Tables)

12 Months Ended

Dec. 31, 2023

Summary of Contractual Obligations

As of December 31, 2023, Cemex had the following contractual obligations:


		2023

Obligations		Less than 1 year		1-3 years		3-5 years		More than 5 years		Total

Long-term debt	$		25		1,614		1,734		2,902		6,275
Leases 1			340		493		282		509		1,624

Total debt and other financial obligations 2			365		2,107		2,016		3,411		7,899
Interest payments on debt 3			369		595		464		393		1,821
Pension plans and other benefits 4			173		300		296		734		1,503
Acquisition of property, plant and equipment 5			286		155		–		–		441
Purchases of services, raw materials, fuel and energy 6			674		1,043		643		611		2,971

Total contractual obligations	$		1,867		4,200		3,419		5,149		14,635

1	Represent nominal cash flows. As of December 31, 2023, the NPV of future payments under the Company’s lease contracts was $1,258, of which, $325 refers to payments from 1 to 3 years and $185 refers to payments from 3 to 5 years.

2	The schedule of debt payments, which includes current maturities, does not consider the effect of any refinancing of debt that may occur during the following years. In the past, Cemex has replaced its long-term obligations for others of a similar nature.

3	Estimated cash flows on floating rate denominated debt were determined using the floating interest rates in effect as of December 31, 2023.

4	Represents estimated annual payments under these benefits for the next ten years (note 19), including the estimate of new retirees during such future years.

5	Refers mainly to the expansion of a cement production line in the Philippines.

Future payments for the purchase of raw materials are presented based on contractual nominal cash flows. Future nominal payments for energy were estimated for all contractual commitments based on an aggregate average expected consumption per year using the future prices of energy established in the contracts for each period. Future payments also include Cemex’s commitments for the purchase of fuel. In addition, includes a contractual commitment with Neoris over a

5-year

contract from 2023 until 2027 for the acquisition by Cemex of digitalization services and solutions for an annual amount of $55. Moreover, it includes the Company’s commitments with six vendors for back-office services for an average annual amount of $60.

Revenue - Summary of Changes in the Balance of Contract Liabilities with Customers (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Contract liabilities [abstract]
Opening balance of contract liabilities with customers	$ 293	$ 257	$ 201
Increase during the period for new transactions	1,603	1,493	1,626
Decrease during the period for exercise or expiration of incentives	(1,519)	(1,458)	(1,574)
Currency translation effects	7	1	4
Closing balance of contract liabilities with customers	$ 384	$ 293	$ 257

Executive Share-Based Compensation

12 Months Ended

Dec. 31, 2023

Executive Share-Based Compensation

22)	EXECUTIVE SHARE-BASED COMPENSATION

Stock-based awards granted to executives are defined as equity instruments, considering that the services received from employees are settled by delivering shares. The cost of these equity instruments represents their estimated fair value at the grant date of each plan and is recognized in the statement of income during the periods in which the executives render services and vest the exercise rights.

Cemex, S.A.B. de C.V. sponsors different long-term restricted share-based compensation programs for a wide range of executives. For eligible executives, stock-based compensation represents a fixed percentage of such executive’s annual compensation (the “Stock Bonus”). This Stock Bonus was paid in the Parent Company’s CPOs until December 31, 2023 and will be paid in the Parent Company’s ADSs beginning January 1, 2024, considering certain management improvements that do not affect employees, and which number is determined on the award date by reference to the Stock Bonus amount and the stock market price of such award date (i.e., once the number of shares is determined, such number is fixed and will not change as a result of changes in the stock market price).

Under our long-term share-based compensation programs, the Company sponsors a program oriented to our top management, which is subject to internal and external performance metrics and rendering of services over a three-year period (the “Performance Plan”), and another program for key executives and key performers, which is subject only to the passage of time and rendering of services over a four-year period (the “Ordinary Plan” together with the Performance Plan, the “Share-Based Compensation Programs”). Shares awarded under the Ordinary Plan are initially restricted for sale and are proportionately released to the executives as services are rendered at the end of each year at a 25% rate over a four-year period, to the extent they remain in the Company at each settlement date. Once the executive is no longer employed by the Company, any shares awarded under the Ordinary Plan are forfeited. The Performance Plan, depending on their weighted achievement, may result in a final payout at the end of the third year between 0% and 200% of the target for each award. The fair value of the awards under the Performance Plan is determined using an option pricing model.

For the years 2023, 2022 and 2021, the changes in connection with the Share-Based Compensation Programs were as follows:


									ADSs equivalents delivered (thousands)
Plan	Target number of ADSs (thousands)		ADS price at award’s date 1		Fair value (%)		Fair value (millions)		2023		2022		2021		ADSs Forfeited (thousands)		ADSs Outstanding (thousands) 2
Performance Plans
2018		1,521.9	$	6.3		149%		14.3		–		–		2,368.4		61.4		–
2019		2,303.0	$	4.4		130%		13.2		–		3,062.8		–		57.7		–
2020		4,146.0	$	2.3		155%		14.8		8,448.2		–		–		–		–
2021		1,227.2	$	8.0		150%		14.7		–		–		–		–		1,840.8
2022		2,403.6	$	4.3		149%		15.4		–		–		–		–		3,571.7
2023		2,825.4	$	6.4		145%		26.1		–		–		–		–		4,094.1
Ordinary Plans
2017		2,704.4	$	8.9		100%		23.9		–		–		19.1		103.9		–
2018		5,304.2	$	6.5		100%		34.5		–		–		968.7		139.2		–
2019		8,048.2	$	4.7		100%		37.5		42.4		1,521.4		1,725.0		118.3		–
2020		11,162.2	$	2.5		100%		28.1		2,293.0		2,370.9		2,617.6		253.7		–
2021		5,716.6	$	7.2		100%		41.3		1,442.7		1,465.6		1,634.6		39.3		1,232.2
2022		9,483.0	$	4.9		100%		46.0		2,450.5		2,499.8		–		22.4		4,468.8
2023		6,531.9	$	5.9		100%		38.4		1,765.0		–		–		–		4,766.8

										16,441.8		10,920.5		9,333.4		795.9		19,974.4

1	Average ADS price of the awards at the date of grant.

2	Until the final payout of the Performance Plans is determined after the conclusion of the three-year period for award, the number of ADSs outstanding assumes a payout considering the same percentage determined by the option pricing model.

Until December 31, 2022, under the Share-Based Compensation Programs, those eligible executives belonging to the operations of CLH and subsidiaries received shares of CLH, significantly sharing the same conditions of Cemex, S.A.B. de C.V.’s plans. During 2022 and 2021, executives received 813,980 shares and 713,927 shares, respectively, held in CLH’s treasury, corresponding to shares without restriction for sale. Beginning in 2023, CLH’s executives receive Cemex CPO awards.

In addition, those eligible executives belonging to the operations of CHP and subsidiaries receive shares of CHP, significantly sharing the same conditions of Cemex, S.A.B. de C.V.’s plans. During 2023, 2022 and 2021, executives received 1,516,657, 19,177,703 and 16,511,882 CHP’s shares, respectively, corresponding to shares without restriction for sale.

The combined compensation expense related to the Share-Based Compensation Programs described above as determined considering the fair value of the awards at the date of grant in 2023, 2022 and 2021, was recognized in the operating results of each subsidiary where the executives render services against other equity reserves and amounted to $61 in 2023, $52 in 2022 and $42 in 2021. The required Parent Company’s CPOs delivered to the executives to meet the Company’s awards are either newly issued or purchased, at the Company’s election. For these purposes, an external trust in which the executives are beneficiaries may receive funding from Cemex to incur these purchases from time to time. Upon issuance of newly issued CPOs, the Parent Company recycles the fair value of the stock from other equity reserves to additional

paid-in

capital within equity. When the Parent Company funds the executives, it recognizes a decrease in other equity reserves against cash. As of December 31, 2023 and 2022, there were no options or commitments to make payments in cash to the executives based on changes in the market price of the Parent Company’s ADSs, CLH’s shares and/or CHP’s shares.

Principal Subsidiaries (Tables)

12 Months Ended

Dec. 31, 2023

Investments accounted for using equity method [abstract]

Summary of Principal Subsidiaries Interests

As mentioned in notes 4.3 and 21.4, as of December 31, 2023 and 2022, there are

non-controlling

interests in certain consolidated entities that are in turn holding companies of relevant operations. The principal subsidiaries as of December 31, 2023 and 2022, which ownership interest is presented according to the interest maintained by Cemex, were as follows:


		% Interest

Subsidiary	Country	2023		2022

Cemex España, S.A. 1	Spain		99.9		99.9
Cemex, Inc.	United States of America		100.0		100.0
Cemex Nicaragua, S.A. 2	Nicaragua		100.0		100.0
Assiut Cement Company	Egypt		95.8		95.8
Cemex Colombia, S.A. 3	Colombia		99.7		99.7
Cemento Bayano, S.A. 4	Panama		99.5		99.5
Cemex Dominicana, S.A.	Dominican Republic		100.0		100.0
Trinidad Cement Limited	Trinidad and Tobago		69.8		69.8
Caribbean Cement Company Limited 5	Jamaica		79.0		79.0
Cemex de Puerto Rico Inc.	Puerto Rico		100.0		100.0
Cemex France Gestion (S.A.S.)	France		100.0		100.0
Cemex Holdings Philippines, Inc. 6	Philippines		89.9		77.9
Solid Cement Corporation 7	Philippines		100.0		100.0
APO Cement Corporation 7	Philippines		100.0		100.0
Cemex U.K.	United Kingdom		100.0		100.0
Cemex Deutschland, AG.	Germany		100.0		100.0
Cemex Czech Republic, s.r.o.	Czech Republic		100.0		100.0
Cemex Polska sp. Z.o.o.	Poland		100.0		100.0
Cemex Holdings (Israel) Ltd.	Israel		100.0		100.0
Cemex Topmix LLC, Cemex Supermix LLC and Cemex Falcon LLC 8	United Arab Emirates		100.0		100.0
Cemex International Trading LLC 9	United States of America		100.0		100.0
Sunbulk Shipping Limited 10	Bahamas		100.0		100.0

1	Cemex España is the direct or indirect holding company of most of Cemex’s international operations .

2	Represents Cemex Colombia’s 99% interest and CLH’s 1% interest held indirectly through another subsidiary of CLH.

3	Represents CLH’s direct and indirect interest in ordinary and preferred shares, including own shares held in Cemex Colombia’s treasury.

4	Represents CLH’s 99.483% indirect interest in ordinary shares, which excludes a 0.516% interest held in Cemento Bayano, S.A.’s treasury.

5	Represents the aggregate ownership interest of Cemex in this entity of 79.04%, which includes TCL’s 74.08% direct and indirect interest and Cemex’s 4.96% indirect interest held through other subsidiaries.

6	Cemex’s operations in the Philippines are conducted through CHP, a subsidiary incorporated in the Philippines, which since July 2016 trades its ordinary shares on the Philippines Stock Exchange under the symbol CHP (note 21.4)

7	Represents CHP’s direct and indirect interest.

8	Cemex España indirectly owns a 49% equity interest in each of these entities and indirectly holds the remaining 51% of the economic benefits, through agreements with other shareholders.

9	Cemex International Trading LLC is involved in the international trading of Cemex’s products and fuel commercialization.

Sunbulk Shipping Limited is involved mainly in maritime and land transportation and/or shipping of goods worldwide and the handling, administration, and hiring of shipments and cargo at ports, terminals and other loading and unloading destinations worldwide, as well as the offering and contracting of services in relation thereto for Cemex’s trading entities and operations.

Material Accounting Policies

12 Months Ended

Dec. 31, 2023

Material Accounting Policies

28)	MATERIAL ACCOUNTING POLICIES

28.1)

PRINCIPLES OF CONSOLIDATION

The consolidated financial statements include those of Cemex, S.A.B. de C.V. and those of all controlled entities. Balances and operations between related parties are eliminated in consolidation.

Investments in associates and joint controlled entities are accounted for by the equity method. The equity method reflects the investee’s original cost and Cemex’s share of the investee’s equity and earnings after acquisition.

28.2)

USE OF ESTIMATES AND CRITICAL ASSUMPTIONS

The preparation of financial statements in accordance with IFRS requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and the disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenues and expenses during the period. These assumptions are reviewed on an ongoing basis using available information. Actual results could differ from these estimates. The main items subject to significant estimates and assumptions by management include impairment tests of long-lived assets, recognition of deferred income tax assets, the recognition of uncertain tax positions, the measurement of asset retirement obligations, as well as provisions regarding legal proceedings and environmental liabilities, among others. Significant judgment is required by management to appropriately assess the amounts of these concepts.

28.3)

FOREIGN CURRENCY TRANSACTIONS AND TRANSLATION OF FOREIGN CURRENCY FINANCIAL STATEMENTS

Transactions denominated in foreign currencies are recorded in the functional currency of each consolidated entity at the exchange rates prevailing on the dates of their execution. Monetary assets and liabilities denominated in foreign currencies are translated into the functional currency of each consolidated entity at the exchange rates prevailing at the statement of financial position date, and the resulting foreign exchange fluctuations are recognized in earnings, except for exchange fluctuations arising from: 1) foreign currency indebtedness associated with the acquisition of foreign entities; and 2) fluctuations associated with related parties’ balances denominated in foreign currency, whose settlement is neither planned nor likely to occur in the foreseeable future and as a result, such balances are of a permanent investment nature. These fluctuations are recorded against “Other equity reserves,” as part of the foreign currency translation adjustment (note 21.2) until the disposal of the foreign net investment, at which time, the accumulated amount in equity is recycled through the statement of income as part of the gain or loss on disposal.

The financial statements of consolidated entities, as determined using their respective functional currency, are translated to Dollars at the closing exchange rate for the statement of financial position and at the closing exchange rates of each month within the period for the statements of income. The functional currency is that in which each consolidated entity primarily generates and expends cash. The corresponding translation effect is included within “Other equity reserves” and is presented in the statement of other comprehensive income for the period as part of the foreign currency translation adjustment (note 21.2) until the disposal of the net investment in the consolidated entity.

Considering its integrated activities, for purposes of functional currency, the Parent Company deemed to have two divisions, one related with its financial and holding company activities, in which the functional currency is the Dollar for all assets, liabilities and transactions associated with these activities, and another division related with the Parent Company’s operating activities in Mexico, in which the functional currency is the Peso for all assets, liabilities and transactions associated with these activities.

The most significant closing exchange rates for the statement of financial position and the approximate average exchange rates (as determined using the closing exchange rates of each month within the period) for the statements of income with respect Cemex’s main functional currencies to the Dollar as of December 31, 2023, 2022 and 2021, were as follows:


	2023				2022				2021

Currency	Closing		Average		Closing		Average		Closing		Average

Peso		16.9700		17.6300		19.5000		20.0274		20.5000		20.4266
Euro		0.9059		0.9227		0.9344		0.9522		0.8789		0.8467
British Pound Sterling		0.7852		0.8019		0.8266		0.8139		0.7395		0.7262
Colombian Peso		3,822		4,272		4,810		4,277		3,981		3,783

28.4)

FINANCIAL INSTRUMENTS

Classification and measurement of financial instruments

Financial assets are classified as “Held to collect” and measured at amortized cost when they meet both of the following conditions and are not designated as at fair value through profit or loss: a) are held within a business model whose objective is to hold assets to collect contractual cash flows; and b) its contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. Amortized cost represents the NPV of the consideration receivable or payable as of the transaction date. This classification of financial assets comprises the following captions:

•

Cash and cash equivalents (note 9).

•

Trade accounts receivable, other current accounts receivable and other current assets (notes 10 and 11). Due to their short-term nature, Cemex initially recognizes these assets at the original invoiced or transaction amount less expected credit losses, as explained below.

•

Trade accounts receivable sold under securitization programs, in which certain residual interest in the trade accounts receivable sold in case of recovery failure and continued involvement in such assets is maintained, do not qualify for derecognition and are maintained in the statement of financial position (notes 10 and 17.2).

•

Investments and

non-current

accounts receivable (note 14.2). Subsequent changes in effects from amortized cost are recognized in the statement of income as part of “Financial income and other items, net.”

Certain strategic investments are measured at fair value through other comprehensive income within “Other equity reserves” (note 14.2). Cemex does not maintain financial assets “Held to collect and sell” whose business model has the objective of collecting contractual cash flows and then selling those financial assets.

The financial assets that are not classified as “Held to collect” or that do not have strategic characteristics fall into the residual category of held at fair value through the statement of income as part of “Financial income and other items, net” (note 14.2).

Debt instruments and other financial obligations are classified as “Loans” and measured at amortized cost (notes 17.1 and 17.2). Interest accrued on financial instruments is recognized within “Other accounts payable and accrued expenses” against financial expense. During the reported periods, Cemex did not have financial liabilities voluntarily recognized at fair value or associated with fair value hedge strategies with derivative financial instruments.

Derivative financial instruments are recognized as assets or liabilities in the statement of financial position at their estimated fair values, and the changes in such fair values are recognized in the statement of income within “Financial income and other items, net” for the period in which they occur, except in the case of hedging instruments as described below.

Hedging instruments (note 17.4)

A hedging relationship is established to the extent the entity considers, based on the analysis of the overall characteristics of the hedging and hedged items, that the hedge will be highly effective in the future and the hedge relationship at inception is aligned with the entity’s reported risk management strategy (note 17.5). The accounting categories of hedging instruments are: a) cash flow hedge; b) fair value hedge of an asset or forecasted transaction; and c) hedge of a net investment in a subsidiary.

In cash flow hedges, the effective portion of changes in fair value of derivative instruments are recognized in stockholders’ equity within other equity reserves and are reclassified to earnings as the interest expense of the related debt is accrued, in the case of interest rate swaps, or when the underlying products are consumed in the case of contracts on the price of raw materials and commodities. In hedges of the net investment in foreign subsidiaries, changes in fair value are recognized in stockholders’ equity as part of the foreign currency translation result within “Other equity reserves” (note 28.3), whose reversal to earnings would take place upon disposal of the foreign investment. Derivative instruments are negotiated with institutions with significant financial capacity; therefore, Cemex believes the risk of

non-performance

of the obligations agreed to by such counterparties to be minimal.

Impairment of financial assets

Impairment losses of financial assets, including trade accounts receivable, are recognized using the Expected Credit Loss model (“ECL”) for the entire lifetime of such financial assets on initial recognition, and at each subsequent reporting period, even in the absence of a credit event or if a loss has not yet been incurred, considering for their measurement past events and current conditions, as well as reasonable and supportable forecasts affecting collectability. For purposes of the ECL model of trade accounts receivable, on a

country-by-country

basis, Cemex segments its accounts receivable by type of client, homogeneous credit risk and days past due and determines for each segment an average rate of ECL, considering actual credit loss experience generally over the last 12 months and analyses of future delinquency, that is applied to the balance of the accounts receivable. The average ECL rate increases in each segment of days past due until the rate is 100% for the segment of 365 days or more past due.

Costs incurred in the issuance of debt or borrowings

Direct costs incurred in debt issuances or borrowings, as well as debt refinancing or

non-substantial

modifications

to debt agreements that did not represent an extinguishment of debt by considering that the holders and the relevant economic terms of the new instrument are not substantially different to the replaced instrument, adjust the carrying amount of the related debt and are amortized as interest expense as part of the effective interest rate of each instrument over its maturity. These costs include commissions and professional fees. Costs incurred in the extinguishment of debt, as well as debt refinancing or modifications to debt agreements, when the new instrument is substantially different from the old instrument according to a qualitative and quantitative analysis, are recognized in the statement of income as incurred.

Leases (notes 15 and 17.2)

At the inception of a contract, Cemex assesses whether a contract is or contains, a lease. A contract is, or contains a lease, if at the inception of the contract, it conveys the right to control the use of an identified asset for a period in exchange for consideration. Pursuant to IFRS 16, leases are recognized as financial liabilities against assets for the

right-of-use,

measured at their commencement date as the NPV of the future contractual fixed payments, using the interest rate implicit in the lease or, if that rate cannot be readily determined, Cemex’s incremental borrowing rate. Cemex determines its incremental borrowing rate by obtaining interest rates from its external financing sources and makes certain adjustments to reflect the term of the lease, the type of the asset leased and the economic environment in which the asset is leased.

Cemex does not separate the

non-lease

component from the lease component included in the same contract. Lease payments included in the measurement of the lease liability comprise contractual rental fixed payments, less incentives, fixed payments of

non-lease

components and the value of a purchase option, to the extent that option is highly probable to be exercised or is considered a bargain purchase option. Interest incurred under the financial obligations related to lease contracts is recognized as part of the “Interest expense” line item in the statement of income.

At the commencement date or on modification of a contract that contains a lease component, Cemex allocates the consideration in the contract to each lease component based on their relative stand-alone prices. Cemex applies the recognition exception for lease terms of 12 months or less and contracts of

low-value

assets and recognizes the lease payment of these leases as rental expense in the statement of income over the lease term. Cemex defined the lease contracts for office and computer equipment as

low-value

assets.

The lease liability is measured at amortized cost using the effective interest method as payments are incurred and is remeasured when: a) there is a change in future lease payments arising from a change in an index or rate, b) if there is a change in the amount expected to be payable under a residual guarantee, c) if the Company changes its assessment of whether it will exercise a purchase, extension or termination option, or d) if there is a revised

in-substance

fixed lease payment. When the lease liability is remeasured, an adjustment is made to the carrying amount of the asset for the

right-of-use

or is recognized within “Financial income and other items, net” if such asset has been reduced to zero.

Embedded derivative financial instruments

Cemex reviews its contracts to identify the existence of embedded derivatives. Identified embedded derivatives are analyzed to determine if they need to be separated from the host contract and recognized in the statement of financial position as assets or liabilities, applying the same valuation rules used for other derivative instruments.

28.5)

PROPERTY, MACHINERY AND EQUIPMENT AND ASSETS FOR THE

RIGHT-OF-USE

(note 15)

Property, machinery and equipment are recognized at their acquisition or construction cost, as applicable, less accumulated depreciation and impairment losses. Depreciation of fixed assets is recognized as part of cost and operating expenses (notes 5 and 6) and is calculated using the straight-line method over the estimated useful lives of the assets, except for mineral reserves, which are depleted using the

units-of-production

method. Periodic maintenance of fixed assets is expensed as incurred. Advances to suppliers of fixed assets are presented as part of other long-term accounts receivable.

Assets for the

right-of-use

related to leases are initially measured at cost, which comprises the initial amount of the lease liability adjusted by any lease payments made at or before the commencement date, plus any initial direct costs incurred and an estimate of costs to dismantle, remove or restore the underlying asset, less any lease incentives received. Assets for the

right-of-use

are generally depreciated using the straight-line method from the commencement date to the end of the lease term. Assets for the

right-of-use

may be reduced by impairment losses, if any, and adjusted for certain remeasurements of the lease liability.

Cemex capitalizes, as part of the related cost of fixed assets, interest expense from existing debt during the construction or installation period of qualifying fixed assets, considering Cemex’s corporate average interest rate and the average balance of investments in process for the period.

28.6)

BUSINESS COMBINATIONS, GOODWILL AND OTHER INTANGIBLE ASSETS (notes 4.1 and 16)

The consideration transferred in business combinations is allocated to all assets acquired and liabilities assumed based on their estimated fair values as of the acquisition date. Any unallocated portion of the consideration transferred represents goodwill, which is not amortized and is subject to periodic impairment tests (note 28.7). Costs associated with the acquisition are expensed in the statement of income as incurred.

Intangible assets are recognized at their acquisition or development cost, as applicable, when probable future economic benefits are identified and there is evidence of control over such benefits. Definite life intangible assets are amortized on a straight-line basis or using the

units-of-production

method, as applicable, as part of operating costs and expenses (notes 5 and 6). Direct costs incurred in the development stage of computer software for internal use are capitalized and amortized through the operating results over the useful life of the software, which, on average is five years.

Cemex’s extraction rights have a weighted average useful life of 83 years, depending on the sector and the expected life of the related reserves. Except for extraction rights which are amortized using the

units-of-production

method and/or as otherwise indicated, Cemex’s intangible assets are amortized on a straight-line basis over their useful lives that range on average from 3 to 20 years.

28.7)

IMPAIRMENT OF LONG-LIVED ASSETS (notes 15 and 16)

Property, machinery and equipment, assets for the

right-of-use,

intangible assets of definite life and other investments

These assets are tested for impairment upon the occurrence of internal or external impairment indicators. Impairment losses, corresponding to the excess of the asset’s carrying amount over its recoverable amount, are recorded within “Other expenses, net.” Recoverable amounts, which include the NPV of future projected cash flows arising from the asset over its useful life (value in use), are determined considering market economic assumptions.

Goodwill

Goodwill is tested for impairment when required upon the occurrence of internal or external indicators of impairment or at least once a year, during the last quarter of such year, at the level of the group of cash-generating units (“CGUs”) to which goodwill balances were allocated by determining the recoverable amount of such group of CGUs, corresponding to the NPV of estimated future cash flows to be generated by such CGUs over periods of 5 years plus terminal value (value in use). An impairment loss is recognized within “Other expenses, net” when the recoverable amount is lower than the net book value of the group of CGUs. Impairment charges recognized on goodwill are not reversed in subsequent periods.

The reportable segments reported by Cemex (note 4.3), represent Cemex’s groups of CGUs to which goodwill has been allocated for purposes of testing goodwill for impairment and represent the lowest level within Cemex at which goodwill is monitored internally by management.

28.8)

PROVISIONS (notes 18, 24 and 25)

Cemex recognizes provisions when it has a legal or constructive obligation resulting from past events, whose resolution would require cash outflows, or the delivery of other resources owned by the Company. As of December 31, 2023 and 2022, some significant proceedings that gave rise to a portion of the carrying amount of Cemex’s other current and

non-current

liabilities and provisions are detailed in note 25.1.

Obligations or losses related to contingencies are qualitatively disclosed in the notes to the financial statements. The effects of long-term commitments established with third parties, such as supply contracts with suppliers or customers, are recognized in the financial statements on an incurred or accrued basis, after taking into consideration the substance of the agreements. Relevant commitments are disclosed in the notes to the financial statements.

28.9)

PENSIONS AND OTHER POST-EMPLOYMENT BENEFITS (note 19)

Defined contribution pension plans

The costs of defined contribution pension plans are recognized in the operating results as they are incurred. Liabilities arising from such plans are settled through cash transfers to the employees’ retirement accounts, without generating future obligations.

Defined benefit pension plans and other post-employment benefits

The costs associated with defined benefit pension plans and other post-employment benefits, generally comprised of health care benefits, life insurance and seniority premiums, are recognized services are rendered by the employees based on actuarial estimations of the benefits’ present value considering the advice of external actuaries. For certain pension plans, Cemex has created irrevocable trust funds to cover future benefit payments (“plan assets”). These plan assets are valued at their estimated fair value at the statement of financial position date. All actuarial gains and losses for the period, related to differences between the projected and real actuarial assumptions at the end of the period, as well as the difference between the expected and actual return on plan assets, are recognized as part of “Other items of comprehensive income, net” within stockholders’ equity.

The service cost, corresponding to the increase in the obligation for additional benefits earned by employees during the period, is recognized within operating costs and expenses. The net interest cost, resulting from the increase in obligations for changes in NPV and the change during the period in the estimated fair value of plan assets, is recognized within “Financial income and other items, net.”

Termination benefits

Termination benefits, not associated with a restructuring event, which mainly represent severance payments by law, are recognized in the operating results for the period in which they are incurred. In the event of restructuring it is recognized within “Other expenses, net.”

28.10)

INCOME TAXES (note 20)

The income taxes reflected in the statement of income include the amounts incurred during the period and the amounts of deferred income taxes, determined according to the income tax law applicable to each subsidiary, reflecting any uncertainty in income tax treatments and include the effects measured in each subsidiary by applying the enacted statutory income tax rate at the end of the reporting period. According to IFRS, all items charged or credited directly in stockholders’ equity or as part of other comprehensive income or loss for the period are recognized net of their current and deferred income tax effects. The effect of a change in enacted statutory tax rates is recognized in the period in which the change is officially enacted.

Deferred income taxes

Deferred tax assets are reviewed at each reporting date and are derecognized when it is not deemed probable that the related tax

benefit

will be realized, considering the aggregate amount of self-determined tax loss carryforwards that Cemex believes will not be rejected by the tax authorities based on available evidence and the likelihood of recovering them prior to their expiration through an analysis of estimated future taxable income. To determine whether it is probable that deferred tax assets will ultimately be recovered, Cemex takes into consideration all available positive and negative evidence, including factors such as market conditions, industry analysis, expansion plans, projected taxable income, carryforward periods, current tax structure, potential changes or adjustments in tax structure, tax planning strategies, future reversals of existing temporary differences. Deferred income tax assets and liabilities relating to different tax jurisdictions are not offset.

Uncertain tax positions

The income tax effects of uncertain tax positions are recognized when it is probable that the position will be sustained based on its technical merits and assuming that the tax authorities will examine each position with full knowledge of all relevant information. For each position, Cemex considers its probability, regardless of its relation to any broader tax settlement. The probability threshold represents a positive assertion by management that Cemex is entitled to the economic benefits of a tax position. If a tax position is considered not probable to be sustained, no benefits of the position are recognized. Interest and penalties related to unrecognized tax benefits are recorded as part of the income tax in the statements of income based on the Company’s analysis of the nature of such interest and penalties, considering recent IFRS Interpretations Committee guidance.

Effective income tax rate

The effective income tax rate is determined by dividing the line item “Income tax” by the line item “Earnings before income tax.” This effective tax rate is further reconciled to Cemex’s statutory tax rate applicable in Mexico (note 20.3). A significant effect on Cemex’s effective tax rate and consequently on the reconciliation of Cemex’s effective tax rate, relates to the difference between the statutory income tax rate in Mexico of 30% and the applicable income tax rates of each country where Cemex operates.

For the years ended December 31, 2023, 2022 and 2021, the statutory tax rates in Cemex’s main operations were as follows:


Country	2023	2022	2021
Mexico	30.0%	30.0%	30.0%
United States	21.0%	21.0%	21.0%
United Kingdom	23.5%	19.0%	19.0%
France	25.8%	25.8%	28.4%
Germany	28.2%	28.2%	28.2%
Spain	25.0%	25.0%	25.0%
Philippines	25.0%	25.0%	25.0%
Israel	23.0%	23.0%	23.0%
Colombia	35.0%	35.0%	31.0%
Others	5.5% – 30.0%	5.5% – 30.0%	5.5% – 30.0%

Cemex’s current and deferred income tax amounts included in the statement of income for the period are highly variable, and are subject, among other factors, to taxable income determined in each jurisdiction in which Cemex operates. Such amounts of taxable income depend on factors such as sale volumes and prices, costs and expenses, exchange rate fluctuations and interest on debt, among others, as well as the estimated tax assets at the end of the period due to the expected future generation of taxable gains in each jurisdiction.

Global minimum tax

On July 10, 2021, the intergovernmental international group promoting economic and financial cooperation known as G20 endorsed the key components of the Pillar Two tax reform that was agreed by 132 countries and jurisdictions (Inclusive Framework on Base Erosion and Profit Shifting or the “Inclusive Framework”). The key components of Pillar Two, which are commonly referred to as the “global minimum tax” introduce a minimum effective tax rate of at least 15%, calculated based on a specific rule set, known as “GloBE model rules”, which was published on December 20, 2021, by the Organization for Economic

Co-operation

and Development (“OECD”), as approved by the Inclusive Framework. Groups with an effective tax rate below the minimum in any particular jurisdiction would be required to pay

top-up

tax at the level of the ultimate parent entity or the intermediate parent entities, as applicable, based on the Income Inclusion Rule. The global minimum tax would be applied to groups with annual revenue of at least 750 million Euros. Among the countries in which Cemex operates, the minimum tax rules, which are effective January 1, 2024, have been endorsed by Switzerland and the EU, and consequently, they will start to apply at the level of Cemex’s Swiss and Spanish intermediate parent entities, each considering all their corresponding subsidiaries. For instance, if the effective tax rate of a jurisdiction where subsidiaries of Cemex España operate as determined using each individual entity’s financial statements (considering certain adjustments) is below 15% on a combined basis, Cemex España would then need to pay in Spain the difference between the implied effective tax rate and the minimum tax rate of 15%, unless a Qualified Domestic Minimum

Top-up

Tax is in effect, in which case, any

top-up

tax would be paid in such jurisdiction. Cemex is currently analyzing Pillar Two implementation and preliminarily considers that effects will not be significant.

28.11)

STOCKHOLDERS’ EQUITY

Other equity reserves and subordinated notes (note 21.2)

Groups the cumulative effects of items and transactions that are, temporarily or permanently, recognized directly to stockholders’ equity, and includes the comprehensive income, which reflects certain changes in stockholders’ equity that do not result from investments by owners and distributions to owners.

Beginning in June 2021, this line item includes the balance of the 2021 Subordinated Notes with no fixed maturity issued by the Parent Company. Considering that the Parent Company’s subordinated notes have no fixed maturity date, there is no contractual obligation for the Parent Company to deliver cash or any other financial assets, the payment of principal and interest may be deferred indefinitely at the sole discretion of Cemex and specific redemption events, are entirely under the Parent Company’s control, under applicable IFRS, the Subordinated Notes qualify as equity instruments and are classified within controlling interest stockholders’ equity. In addition, this line item includes the accrued interest under Subordinated Notes.

The most significant items within “Other equity reserves and subordinated notes” during the reported periods are as follows:

Items of “Other equity reserves and subordinated notes” included within other comprehensive income:

•

Currency translation effects from the translation of foreign subsidiaries, net of: a) exchange results from foreign currency debt directly related to the acquisition of foreign subsidiaries; and b) exchange results from foreign currency related parties’ balances that are of a

non-current

investment class (note 28.3);

•

The effective portion of the valuation and liquidation effects from derivative financial instruments under cash flow hedging relationships, which are recorded temporarily in stockholders’ equity (note 28.4);

•

Changes in fair value of other investments in strategic securities (note 28.4); and

•

Current and deferred income taxes during the period arising from items whose effects are directly recognized in stockholders’ equity.

Items of “Other equity reserves and subordinated notes” not included in comprehensive income:

•

Effects related to controlling stockholders’ equity for changes or transactions affecting

non-controlling

interest stockholders in Cemex’s consolidated subsidiaries;

•

Effects attributable to controlling stockholders’ equity for financial instruments issued by consolidated subsidiaries that qualify for accounting purposes as equity instruments, such as the interest expense paid on perpetual debentures;

•

The balance of Subordinated Notes with no fixed maturity and any interest accrued thereof; and

•

The cancellation of the Parent Company’s shares held by consolidated entities.

28.12)

EXECUTIVE SHARE-BASED COMPENSATION (note 22)

Share-based payments to executives are defined as equity instruments when services received from employees are settled by delivering shares of the Parent Company and/or a subsidiary; or as liability instruments when Cemex commits to make cash payments to the executives upon exercise of the awards based on changes in the Parent Company and/or the subsidiary’s stock (intrinsic value). The cost of equity instruments represents their estimated fair value at the date of grant and is recognized in the operating results during the periods in which the executives release any restriction. Cemex does not grant liability instruments.

28.13)

ALLOWANCES RELATED TO EMISSIONS OF CO

According to the Paris Agreement objectives (note 24.4), in certain countries where Cemex operates, such as the EU countries and the United Kingdom, among others, mechanisms aimed at reducing carbon dioxide emissions have been established, such as the EU ETS, by means of which, the relevant environmental authorities grant annually certain number of emission rights (“Allowances”) so far free of cost to the entities that may release CO

. Entities in turn, must submit to such environmental authorities at the end of the compliance period, Allowances for a volume equivalent to the tons of CO

released. Companies must buy additional Allowances to meet deficits between actual CO

emissions during the compliance period and Allowances received. Entities may also dispose of any surplus of Allowances in the market. In general, failure to meet the emissions caps is subject to significant monetary penalties. The trend is that Allowances received free of cost will be reduced over time so that entities are compelled to act and gradually reduce the aggregate volume of emissions.

As of December 31, 2023, according to management estimates (unaudited), Cemex held excess Allowances received for no

consideration

in prior years sufficient to allow the Company offsetting CO

costs in the EU and the United Kingdom operations until 2026. Moreover, the increasing use of decarbonated or lower carbon raw materials, although far more expensive than traditional raw materials, among other strategies to reduce CO

emissions such as the use of alternative fuels and decarbonated or lower carbon cementitious materials, may allow Cemex, according to internal estimates, to extend its consolidated surplus of Allowances beyond 2026.

Cemex accounts for the effects associated with CO

emission reduction mechanisms as follows:

•

Certificates received through government grants for no consideration paid are recognized at zero cost in the statement of financial position.

•

Revenues received from the sale of excess Allowances are recognized in the statement of income in the period in which they occur.

•

Allowances that would be acquired to hedge exceeding CO

emissions would be recognized as intangible assets at cost and would be further amortized to the cost of sales during the compliance period.

•

Cemex would accrue a provision at market value against the cost of sales when current emissions of CO

would exceed the number of emission rights on hand and the required additional Allowances would not be yet acquired in the market.

•

In addition, in certain countries, the environmental authorities impose levies per ton of CO

or other greenhouse gases released. Such expenses are recognized as part of the cost of sales as incurred.

28.14)

CONCENTRATION OF CREDIT

Cemex sells its products primarily to distributors in the construction industry, with no specific geographic concentration within the countries in which Cemex operates. As of and for the years ended December 31, 2023, 2022 and 2021, no single customer individually accounted for a significant amount of the reported amounts of sales or in the balances of trade accounts receivable. In addition, there is no significant concentration of a specific supplier relating to the purchase of raw materials.

28.15)

NEWLY ISSUED IFRS NOT YET ADOPTED

There are several amendments or new IFRS issued but not yet effective which are un

der analysis and the Compa

ny’s management expects to adopt in their specific effective dates considering preliminarily without any significant effect on the Company’s financial position or operating results, and which are summarized as follows:


Standard	Main topic	Effective date

Amendments to IAS 7, Statement of Cash Flows and IFRS 7, Financial Instruments: Disclosures – Supplier Finance Arrangements	The amendment requires entities to provide additional disclosures about their supplier finance arrangements to provide users of financial statements with information about: a) how such arrangements affect an entity’s liabilities and cash flows; and b) to understand their effect on an entity’s exposure to liquidity risk and how the entity might be affected if the arrangements were no longer available.	January 1, 2024

Amendments to IAS 1, Presentation of Financial Statements – Non-current liabilities with covenants	The amendments improve information an entity provides when its right to defer settlement of liabilities for at least twelve months is subject to compliance with covenants.	January 1, 2024

Amendments to IFRS 16, Leases – Lease liability in a sale and leaseback	The amendments mentioned that on initial recognition, the seller-lessee would include variable payments when it measures a lease liability arising from a sale-and-leaseback transaction. In addition, the amendments established that the seller-lessee could not recognize gains or losses relating to the right of use it retains after initial recognition.	January 1, 2024

Amendments to IAS 1, Presentation of Financial Statements	Clarifies the requirements to be applied in classifying liabilities as current and non-current.	January 1, 2024

Amendments to IAS 21, The Effects of Changes in Foreign Exchange Rates – Lack of Exchangeability	The amendments require an entity to apply a consistent approach to assessing whether a currency is exchangeable into another currency and when it is not, to determine the exchange rate to use and the disclosures to provide.	January 1, 2025

Property, Machinery and Equipment, Net and Assets For The Right-Of-Use, Net - Disclosure of Net Change in Property, Machinery and Equipment (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure of detailed information about property, plant and equipment [line items]
Net book value at beginning of period	$ 10,156	$ 10,202
Capital expenditures	1,039	1,041
Stripping costs	37	25
Total capital expenditures	1,076	1,066
Disposals	(108)	(30)
Business combinations (note 4.1)	39	43
Depreciation and depletion for the period	(874)	(724)
Impairment losses (note 7)	(36)	(77)
Asset retirement obligations (note 18.2)	64	22
Foreign currency translation effects	955	(346)
Net book value at end of period	11,272	10,156
Cost [member]
Disclosure of detailed information about property, plant and equipment [line items]
Net book value at beginning of period	20,516	20,322
Net book value at end of period	22,564	20,516
Accumulated depreciation and depletion [member]
Disclosure of detailed information about property, plant and equipment [line items]
Net book value at beginning of period	(10,360)	(10,120)
Net book value at end of period	(11,292)	(10,360)
Land and mineral reserves [member]
Disclosure of detailed information about property, plant and equipment [line items]
Net book value at beginning of period	3,506	3,575
Capital expenditures	33	126
Stripping costs	37	25
Total capital expenditures	70	151
Disposals	(31)	(4)
Business combinations (note 4.1)	13	32
Depreciation and depletion for the period	(141)	(153)
Impairment losses (note 7)	(16)	(12)
Foreign currency translation effects	399	(83)
Net book value at end of period	3,800	3,506
Land and mineral reserves [member] \| Cost [member]
Disclosure of detailed information about property, plant and equipment [line items]
Net book value at beginning of period	4,843	4,801
Net book value at end of period	5,295	4,843
Land and mineral reserves [member] \| Accumulated depreciation and depletion [member]
Disclosure of detailed information about property, plant and equipment [line items]
Net book value at beginning of period	(1,337)	(1,226)
Net book value at end of period	(1,495)	(1,337)
Building [member]
Disclosure of detailed information about property, plant and equipment [line items]
Net book value at beginning of period	829	1,038
Capital expenditures	86	52
Total capital expenditures	86	52
Disposals	(2)	(4)
Business combinations (note 4.1)	4	1
Depreciation and depletion for the period	(80)	(78)
Impairment losses (note 7)	(2)	(8)
Asset retirement obligations (note 18.2)	20	5
Foreign currency translation effects	124	(177)
Net book value at end of period	979	829
Building [member] \| Cost [member]
Disclosure of detailed information about property, plant and equipment [line items]
Net book value at beginning of period	2,342	2,532
Net book value at end of period	2,636	2,342
Building [member] \| Accumulated depreciation and depletion [member]
Disclosure of detailed information about property, plant and equipment [line items]
Net book value at beginning of period	(1,513)	(1,494)
Net book value at end of period	(1,657)	(1,513)
Machinery and equipment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Net book value at beginning of period	4,153	4,327
Capital expenditures	720	406
Total capital expenditures	720	406
Disposals	(75)	(22)
Business combinations (note 4.1)	22	9
Depreciation and depletion for the period	(653)	(493)
Impairment losses (note 7)	(18)	(55)
Asset retirement obligations (note 18.2)	44	17
Foreign currency translation effects	369	(36)
Net book value at end of period	4,562	4,153
Machinery and equipment [member] \| Cost [member]
Disclosure of detailed information about property, plant and equipment [line items]
Net book value at beginning of period	11,663	11,727
Net book value at end of period	12,702	11,663
Machinery and equipment [member] \| Accumulated depreciation and depletion [member]
Disclosure of detailed information about property, plant and equipment [line items]
Net book value at beginning of period	(7,510)	(7,400)
Net book value at end of period	(8,140)	(7,510)
Construction in progress [member]
Disclosure of detailed information about property, plant and equipment [line items]
Net book value at beginning of period	1,668	1,262
Capital expenditures	200	457
Total capital expenditures	200	457
Business combinations (note 4.1)	0	1
Impairment losses (note 7)	0	(2)
Asset retirement obligations (note 18.2)	0	0
Foreign currency translation effects	63	(50)
Net book value at end of period	1,931	1,668
Construction in progress [member] \| Cost [member]
Disclosure of detailed information about property, plant and equipment [line items]
Net book value at beginning of period	1,668	1,262
Net book value at end of period	$ 1,931	$ 1,668

Financial Instruments - Summary of Other Financial Obligations (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Disclosure of financial liabilities [line items]
Other current financial obligations	$ 950	$ 936
Other financial obligations, long-term	986	918
Total	1,936	1,854
Liabilities Secured With Accounts Receivable [member]
Disclosure of financial liabilities [line items]
Other current financial obligations	678	678
Total	678	678
Leases [Member]
Disclosure of financial liabilities [line items]
Other current financial obligations	272	258
Other financial obligations, long-term	986	918
Total	$ 1,258	$ 1,176

Material Accounting Policies - Summary of Statutory Tax Rates (Detail)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of Effective Tax Rate [Line Items]
Applicable tax rate	30.00%	30.00%	30.00%
Mexico [member]
Reconciliation of Effective Tax Rate [Line Items]
Applicable tax rate	30.00%	30.00%	30.00%
United States [member]
Reconciliation of Effective Tax Rate [Line Items]
Applicable tax rate	21.00%	21.00%	21.00%
United Kingdom [member]
Reconciliation of Effective Tax Rate [Line Items]
Applicable tax rate	23.50%	19.00%	19.00%
France [member]
Reconciliation of Effective Tax Rate [Line Items]
Applicable tax rate	25.80%	25.80%	28.40%
Germany [member]
Reconciliation of Effective Tax Rate [Line Items]
Applicable tax rate	28.20%	28.20%	28.20%
Spain [member]
Reconciliation of Effective Tax Rate [Line Items]
Applicable tax rate	25.00%	25.00%	25.00%
Philippines [member]
Reconciliation of Effective Tax Rate [Line Items]
Applicable tax rate	25.00%	25.00%	25.00%
Israel [member]
Reconciliation of Effective Tax Rate [Line Items]
Applicable tax rate	23.00%	23.00%	23.00%
Colombia [member]
Reconciliation of Effective Tax Rate [Line Items]
Applicable tax rate	35.00%	35.00%	31.00%
Bottom of range [member] \| Colombia [member]
Reconciliation of Effective Tax Rate [Line Items]
Applicable tax rate	30.00%	30.00%	30.00%
Bottom of range [member] \| Other [member]
Reconciliation of Effective Tax Rate [Line Items]
Applicable tax rate	30.00%	30.00%	30.00%
Top of range [member] \| Colombia [member]
Reconciliation of Effective Tax Rate [Line Items]
Applicable tax rate	35.00%	35.00%	35.00%
Top of range [member] \| Other [member]
Reconciliation of Effective Tax Rate [Line Items]
Applicable tax rate	5.50%	5.50%	5.50%

Stockholders' Equity - Summary of Common Stock (Parenthetical) (Detail) - shares	Dec. 31, 2023	Dec. 31, 2022
Disclosure of Classes of Share Capital [Line Items]
Fixed portion of shares issued	13,068,000,000	13,068,000,000
Variable portion of shares issued	31,779,148,989	32,441,076,423
Series A [Member]
Disclosure of Classes of Share Capital [Line Items]
Percentage of capital stock	64.00%
Series B [Member]
Disclosure of Classes of Share Capital [Line Items]
Percentage of capital stock	36.00%

Related Parties

12 Months Ended

Dec. 31, 2023

Related Parties

26)	RELATED PARTIES

All significant balances and transactions between the entities that constitute Cemex have been eliminated in the preparation of the consolidated financial statements. These balances with related parties resulted primarily from: (i) the sale and purchase of goods between group entities; (ii) the sale and/or acquisition of subsidiaries’ shares within Cemex; (iii) the invoicing of administrative services, rentals, trademarks and commercial name rights, royalties and other services rendered between group entities; and (iv) loans between related parties. When market prices and/or market conditions are not readily available, Cemex conducts transfer pricing studies in the countries in which it operates to comply with regulations applicable to transactions between related parties.

The definition of related parties includes entities or individuals outside Cemex, who, may take advantage of being in a privileged situation due to their relationship with Cemex. Likewise, this applies to cases where Cemex may take advantage of such relationships and benefit from its financial position or operating results.

For the years ended December 31, 2023, 2022 and 2021, in the ordinary course of business, Cemex has entered into transactions with related parties for the sale and/or purchase of products, the sale and/or purchase of services or the lease of assets, all of which are not significant for Cemex and, except for the transactions mentioned below, to the best of Cemex’s knowledge are not significant to the related party, are incurred for

non-significant

amounts for Cemex and are executed under conditions following the same authorizations applied to other third parties. These identified transactions, which involved members of the Parent Company’s Board of Directors and senior management, as applicable, are reviewed by the Parent Company’s Board of Directors Corporate Practices and Finance Committee and approved or ratified at least annually by the Parent Company’s Board of Directors, as per Cemex’s applicable policies on conflicts of interest and related person transactions. These transactions with related parties also include transactions with subsidiaries with significant

non-controlling

interests, such as TCL, Caribbean Cement Company Limited and CHP; with other companies in which Cemex has a

non-controlling

position, such as Neoris, GCC and Lehigh White Cement Company; with companies in which the Parent Company’s Board of Director members are members of such company’s board of directors, like FEMSA, S.A.B. de C.V., Carza, S.A.P.I. de C.V., Nemak, S.A.B. de C.V., NEG Natural, S.A. de C.V.; and with companies at which members of Cemex’s senior management have family members such as Cementos Españoles de Bombeo, S. de R.L. (“CEB”), all of which are also reviewed by the Parent Company’s Board of Directors Corporate Practices and Finance Committee and approved or ratified at least annually by the Parent Company’s Board of Directors.

For Cemex, except as set forth below, none of these transactions executed in 2023 are material to be disclosed separately. In addition, during the same periods, no member of Cemex, S.A.B. de C.V.’s senior management or Board of Directors had any outstanding loans with Cemex.

The most important transactions with related parties during 2023 included in Cemex’s financial statements were as follows:

•

Cemex has a Master Services Agreement pursuant to which Cemex receives information technology services and solutions globally from Neoris. For the year 2023, Cemex incurred in consulting services from Neoris for $94. Cemex holds a 35% equity interest in Neoris and some of Cemex’s employees are members of the board of directors of Neoris.

•

For the year 2023, Cemex incurred services from CEB, a provider of

ready-mix

pumping services to Cemex’s customers in Mexico for $55.

For the years 2023, 2022 and 2021, the aggregate compensation paid to members of Cemex, S.A.B. de C.V.’ Board of Directors, including alternate directors, and Cemex’s senior management was $71, $44 and $50, respectively. Of these amounts, $24 in 2023, $29 in 2022, $26 in 2021, were paid as base compensation plus performance bonuses, including pension and post-employment benefits. In addition, $47 in 2023, $15 in 2022 and $24 in 2021 of the aggregate amounts in each year, corresponded to allocations of ADSs under Cemex’s executive share-based compensation programs.

Other Current and Non-current Liabilities - Summary of Other Non-current Liabilities (Parenthetical) (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of transactions between related parties [line items]
Deferred revenues	$ 384	$ 293	$ 257	$ 201
Cemento interoceanio [member] \| Liabilitites classified as held for sale [member]
Disclosure of transactions between related parties [line items]
Period of amortisation of deferred revenue	15 years
Deferred revenues	$ 22	$ 27

Financial Instruments - Summary of Consolidated Financial Ratios (Detail)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of detailed information about financial instruments [line items]
Leverage Ratio	2.06%	2.84%	2.73%
Coverage Ratio	7.91%	6.27%	5.99%
Less than or Equal to 3.75 Ratio [member]
Disclosure of detailed information about financial instruments [line items]
Leverage Ratio	3.75%	3.75%	3.75%
Greater than or Equal to 2.75 [member]
Disclosure of detailed information about financial instruments [line items]
Coverage Ratio	2.75%	2.75%	2.75%

Operating Expenses (Tables)

12 Months Ended

Dec. 31, 2023

Summary of Consolidated Operating Expense

Consolidated operating expenses by function during 2023, 2022 and 2021 are as follows:


		2023		2022		2021
Administrative expenses 1, 2	$		1,385		1,074		958
Selling expenses 2			411		363		322

Total administrative and selling expenses			1,796		1,437		1,280
Distribution and logistics expenses			1,951		1,824		1,637

Total operating expenses	$		3,747		3,261		2,917

1	All significant research and development activities are executed by several internal areas of Cemex as part of their daily activities. In 2023, 2022 and 2021, the total combined expenses of these departments recognized within administrative expenses were $55, $42 and $44, respectively.

2	In 2023, 2022 and 2021, administrative expenses include depreciation and amortization of $162, $140 and $137, respectively, and selling expenses include depreciation and amortization of $54 in 2023, $51 in 2022 and $49 in 2021.

Disclosure Of Operating Expenses By Nature

Consolidated operating expenses during 2023, 2022 and 2021 by nature are as follows:


		2023		2022		2021
Transportation costs	$		1,793		1,676		1,502
Payroll			1,154		1,038		905
Depreciation and amortization			216		191		186
Professional legal, accounting and advisory services			236		145		144
Maintenance, repairs and supplies			99		84		76
Other operating expenses			249		127		104

	$		3,747		3,261		2,917

Stockholders' Equity - Summary of Reconciliation of Controlling Interest due to Different Currencies (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Disclosure Detail Of Reconciliation Of Controlling Interest Due To Different Currencies [Line Items]
Common stock and additional paid-in capital	$ 7,699	$ 7,810
Other equity reserves	(2,349)	(2,549)
Retained earnings	4,428	4,246
Total controlling interest	11,764	$ 10,501
Parent [member]
Disclosure Detail Of Reconciliation Of Controlling Interest Due To Different Currencies [Line Items]
Common stock and additional paid-in capital	6,086
Other equity reserves	1,576
Retained earnings	4,102
Total controlling interest	11,764
Consolidated One [member]
Disclosure Detail Of Reconciliation Of Controlling Interest Due To Different Currencies [Line Items]
Common stock and additional paid-in capital	7,699
Other equity reserves	(363)
Retained earnings	4,428
Total controlling interest	$ 11,764

Inventories

12 Months Ended

Dec. 31, 2023

Contract customers advances payable [member] | Commercial agreement with cemeto bayano [member]

Inventories

12)	INVENTORIES

Inventories are valued using the lower of cost or net realizable value. The weighted average cost of inventories includes expenditures incurred in acquiring the inventories, production or conversion costs and other costs incurred in bringing them to their existing location and condition. Inventory balances are subject to impairment. When an impairment situation arises, the inventory balance is adjusted to its net realizable value against “Cost of sales.” Advances to suppliers of inventory are presented as part of other current assets.

As of December 31, 2023 and 2022, the consolidated balances of inventories were summarized

follows:


		2023		2022
Materials and spare parts	$		537		563
Finished goods			461		406
Raw materials			370		329
Work-in-process			330		284
Inventory in transit			91		87

	$		1,789		1,669

For the years ended December 31, 2023, 2022 and 2021, Cemex recognized within “Cost of sales” in the statements of income, inventory impairment losses of $7, $10 and $4, respectively.

Executive Share-based Compensation - Additional Information (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) shares	Dec. 31, 2022 USD ($) shares	Dec. 31, 2021 USD ($) shares
Disclosure of Terms and Conditions of Share-based Payment Arrangement [Line Items]
Commitment payments in cash	$ 0	$ 0
Decrease in other equity reserves	$ 61	47	$ 77
ADSs Based On The Service Of The Executives [Member] \| Executive Officer [Member]
Disclosure of Terms and Conditions of Share-based Payment Arrangement [Line Items]
Share-based compensation program service period	4 years
Share-based compensation annual grant percentage	25.00%
CPO [Member] \| Bottom of range [member]
Disclosure of Terms and Conditions of Share-based Payment Arrangement [Line Items]
Share-based compensation annual grant percentage	0.00%
CPO [Member] \| Top of range [member]
Disclosure of Terms and Conditions of Share-based Payment Arrangement [Line Items]
Share-based compensation annual grant percentage	200.00%
CPO [Member] \| Cemex Holdings Philippines, Inc. [member] \| Vested [Member]
Disclosure of Terms and Conditions of Share-based Payment Arrangement [Line Items]
Decrease in other equity reserves	$ (61)	(52)	(42)
Transfer to additional paid in capital from other equity reserves	$ 61	$ 52	$ 42
CLH [Member] \| CEMEX Latam Holdings, S.A [member] \| ADSs Based On Service And Performance Of The Executives [Member] \| Executive Officer [Member] \| Vested [Member]
Disclosure of Terms and Conditions of Share-based Payment Arrangement [Line Items]
Share-based compensation shares issued \| shares		813,980	713,927
CLH [Member] \| Cemex Holdings Philippines, Inc. [member] \| ADSs Based On Service And Performance Of The Executives [Member] \| Executive Officer [Member]
Disclosure of Terms and Conditions of Share-based Payment Arrangement [Line Items]
Share-based compensation shares issued \| shares	1,516,657	19,177,703	16,511,882

Pensions and Post-Employment Benefits - Aggregate Projected Benefit Obligation for Pension Plans and Other Post-employment Benefits and the Plan Assets by Country (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of fair value of plan assets [line items]
PBO	$ 2,010	$ 1,903	$ 2,783
Assets	1,275	1,208	$ 1,784
Deficit	735	695
Mexico [member]
Disclosure of fair value of plan assets [line items]
PBO	253	220
Assets	44	25
Deficit	209	195
United States [member]
Disclosure of fair value of plan assets [line items]
PBO	184	194
Assets	188	166
Deficit	(4)	28
United Kingdom [member]
Disclosure of fair value of plan assets [line items]
PBO	1,129	1,062
Assets	821	791
Deficit	308	271
Germany [member]
Disclosure of fair value of plan assets [line items]
PBO	141	134
Assets	6	6
Deficit	135	128
Other countries [member]
Disclosure of fair value of plan assets [line items]
PBO	303	293
Assets	216	220
Deficit	$ 87	$ 73

Business Combinations, Divestitures and Discontinued Operations and Selected Financial Information by Reportable Segment and Line of Business - Additional Information (Detail) $ in Millions							6 Months Ended	12 Months Ended
	Feb. 29, 2024	Jan. 30, 2023 USD ($) t	Oct. 31, 2022 USD ($)	Oct. 25, 2022 USD ($)	Mar. 31, 2021 USD ($) Integer	Mar. 29, 2019 USD ($)	Jul. 09, 2021 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Nov. 01, 2023 USD ($)	May 11, 2023 USD ($)	Jul. 11, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 10, 2021 USD ($)	Jan. 31, 2021 USD ($)
Disclosure of operating segments [line items]
Goodwill							$ 41	$ 7,674	$ 7,538				$ 7,984
Loss on sale of discontinued operations							$ 67
Sale Of Assets					$ 44
Percentage of internal and external revenues	10.00%
Percentage of combined net profit or loss	10.00%
Percentage of combined assets in operating segments	10.00%
Percentage of threshold of individual operating segment	10.00%
Percentage of entitys revenue	75.00%
Neoris N.V. [Member]
Disclosure of operating segments [line items]
Proportion of ownership interest in joint venture				35.00%
Concrete Plants [Member]
Disclosure of operating segments [line items]
Number Of Assets Held For Sale \| Integer					24
Quarry [Member]
Disclosure of operating segments [line items]
Number Of Assets Held For Sale \| Integer					1
White Cement Business [Member]
Disclosure of operating segments [line items]
Consideration, on sale of operations						$ 155
Pro Stein [Member]
Disclosure of operating segments [line items]
Percentage of voting equity interests acquired												53.00%
Consideration transferred												$ 21
Goodwill														$ 4
Goodwill recognised as of acquisition date												$ 0
Broquers Ambiental [Member]
Disclosure of operating segments [line items]
Consideration transferred														$ 13
Kiesel [member]
Disclosure of operating segments [line items]
Consideration transferred										$ 13	$ 75
Goodwill								5
SHTANG Recycle LTD [Member]
Disclosure of operating segments [line items]
Goodwill								$ 3
Consideration, on sale of operations		$ 13
Percentage of ownership interest sold		51.00%
Number of tons of waste \| t		600,000
Discontinued operations [member] \| Neoris N.V. [Member]
Disclosure of operating segments [line items]
Consideration, on sale of operations				$ 119
Percentage of ownership interest sold				65.00%				65.00%
Discontinued operations [member] \| Neoris [Member]
Disclosure of operating segments [line items]
Proceeds from divestiture				$ 117
Israel [member] \| Kinneret and Beton-He'Emek [Member] \| Readymix Business Netei Noy [member]
Disclosure of operating segments [line items]
Consideration transferred															$ 6
Goodwill													$ 5
Costa Rica and El Salvador [Member]
Disclosure of operating segments [line items]
Consideration, on sale of operations			$ 325
Gains (losses) on exchange differences on translation of foreign operations, net of tax									$ 240

Financial Instruments - Summary of Consolidated Net Monetary Assets (Liabilities) by Currency (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Disclosure of detailed information about financial instruments [line items]
Monetary assets	$ 3,802	$ 3,129
Monetary liabilities	15,859	15,090
Net monetary assets (liabilities)	(12,057)	(11,961)
US Dollar [member]
Disclosure of detailed information about financial instruments [line items]
Net monetary assets (liabilities)	(7,033)	(7,564)
Mexican peso [Member]
Disclosure of detailed information about financial instruments [line items]
Net monetary assets (liabilities)	(924)	(1,071)
Euro [member]
Disclosure of detailed information about financial instruments [line items]
Net monetary assets (liabilities)	(2,223)	(1,815)
British Pound Sterling [member]
Disclosure of detailed information about financial instruments [line items]
Net monetary assets (liabilities)	(613)	(760)
Other Currencies [Member]
Disclosure of detailed information about financial instruments [line items]
Net monetary assets (liabilities)	(1,264)	(751)
Mexico [member]
Disclosure of detailed information about financial instruments [line items]
Monetary assets	1,627	960
Monetary liabilities	2,184	1,951
Net monetary assets (liabilities)	(557)	(991)
Mexico [member] \| US Dollar [member]
Disclosure of detailed information about financial instruments [line items]
Net monetary assets (liabilities)	(157)	8
Mexico [member] \| Mexican peso [Member]
Disclosure of detailed information about financial instruments [line items]
Net monetary assets (liabilities)	(400)	(999)
Mexico [member] \| Other Currencies [Member]
Disclosure of detailed information about financial instruments [line items]
Net monetary assets (liabilities)	0	0
United States [member]
Disclosure of detailed information about financial instruments [line items]
Monetary assets	651	650
Monetary liabilities	2,679	2,559
Net monetary assets (liabilities)	(2,028)	(1,909)
United States [member] \| US Dollar [member]
Disclosure of detailed information about financial instruments [line items]
Net monetary assets (liabilities)	(2,030)	(1,909)
United States [member] \| Other Currencies [Member]
Disclosure of detailed information about financial instruments [line items]
Net monetary assets (liabilities)	2
SCA&C [member]
Disclosure of detailed information about financial instruments [line items]
Monetary assets	274	204
Monetary liabilities	730	519
Net monetary assets (liabilities)	(456)	(315)
SCA&C [member] \| US Dollar [member]
Disclosure of detailed information about financial instruments [line items]
Net monetary assets (liabilities)	(61)	(42)
SCA&C [member] \| Euro [member]
Disclosure of detailed information about financial instruments [line items]
Net monetary assets (liabilities)	0	0
SCA&C [member] \| Other Currencies [Member]
Disclosure of detailed information about financial instruments [line items]
Net monetary assets (liabilities)	(395)	(273)
Asia, Middle East and Africa [member]
Disclosure of detailed information about financial instruments [line items]
Monetary assets	1,491	1,315
Monetary liabilities	3,087	2,887
Net monetary assets (liabilities)	(1,596)	(1,572)
Asia, Middle East and Africa [member] \| US Dollar [member]
Disclosure of detailed information about financial instruments [line items]
Net monetary assets (liabilities)	(5)	12
Asia, Middle East and Africa [member] \| Euro [member]
Disclosure of detailed information about financial instruments [line items]
Net monetary assets (liabilities)	(660)	(632)
Asia, Middle East and Africa [member] \| British Pound Sterling [member]
Disclosure of detailed information about financial instruments [line items]
Net monetary assets (liabilities)	(710)	(931)
Asia, Middle East and Africa [member] \| Other Currencies [Member]
Disclosure of detailed information about financial instruments [line items]
Net monetary assets (liabilities)	(221)	(21)
Other Operations [Member]
Disclosure of detailed information about financial instruments [line items]
Monetary assets	(241)	0
Monetary liabilities	7,179	7,174
Net monetary assets (liabilities)	(7,420)	(7,174)
Other Operations [Member] \| US Dollar [member]
Disclosure of detailed information about financial instruments [line items]
Net monetary assets (liabilities)	(4,780)	(5,633)
Other Operations [Member] \| Mexican peso [Member]
Disclosure of detailed information about financial instruments [line items]
Net monetary assets (liabilities)	(524)	(72)
Other Operations [Member] \| Euro [member]
Disclosure of detailed information about financial instruments [line items]
Net monetary assets (liabilities)	(1,563)	(1,183)
Other Operations [Member] \| British Pound Sterling [member]
Disclosure of detailed information about financial instruments [line items]
Net monetary assets (liabilities)	97	171
Other Operations [Member] \| Other Currencies [Member]
Disclosure of detailed information about financial instruments [line items]
Net monetary assets (liabilities)	$ (650)	$ (457)

Legal Proceedings - Additional Information (Detail) - t t in Thousands			12 Months Ended
	Feb. 29, 2024	Apr. 12, 2019	Dec. 31, 2023	Apr. 30, 2023	Feb. 28, 2021
Disclosure of Commitments and Contingencies [Line Items]
Lease contract for a period			21 years
Extended long term lease contract period			10 years
Percentage of entity's revenue	75.00%
CI Calizas [member]
Disclosure of Commitments and Contingencies [Line Items]
Percentage of entity's revenue		0.90%
Zomam [member]
Disclosure of Commitments and Contingencies [Line Items]
Percentage of entity's revenue		0.80%
Concentration Risk Percentage		0.30%
CEMEX Colombia [member]
Disclosure of Commitments and Contingencies [Line Items]
Number of Raw Materials Used For Production			1,500	1,500	990
CEMEX Colombia [member] \| Maceo Plant [Member]
Disclosure of Commitments and Contingencies [Line Items]
Minimum production of cement required subject to environmental clearance			950
Bottom of range [member] \| CEMEX Colombia [member]
Disclosure of Commitments and Contingencies [Line Items]
Permission Granted For The Extranction Of Raw Materials			950

Other Expenses, Net - Summary of Other Expenses (Parenthetical) (Detail) - USD ($) $ in Millions		12 Months Ended
	Mar. 31, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of operating segments [line items]
Property damages and natural disasters		$ 13.0	$ 14.0	$ 29.0
Sale of capital investment	$ 12.3
Emission allowances	$ 600.0
Neoris N.V. [Member]
Disclosure of operating segments [line items]
Gain (loss) recognised on measurement to fair value less costs to sell or on disposal of assets or disposal groups constituting discontinued operation			$ 48.0

Consolidated Statements of Financial Position - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
CURRENT ASSETS
Cash and cash equivalents	$ 624	$ 495
Trade accounts receivable	1,751	1,644
Other accounts receivable	650	535
Inventories	1,789	1,669
Other current assets	191	183
Total current assets	5,005	4,526
NON-CURRENT ASSETS
Investments in associates and joint ventures	729	640
Other investments and non-current accounts receivable	340	293
Property, machinery and equipment, net and assets for the right-of-use, net	12,466	11,284
Goodwill and intangible assets, net	9,530	9,293
Deferred income tax assets	363	411
Total non-current assets	23,428	21,921
TOTAL ASSETS	28,433	26,447
CURRENT LIABILITIES
Current debt	25	51
Other current financial obligations	950	936
Trade accounts payable	3,109	2,966
Income tax payable	1,082	368
Other current liabilities	1,620	1,225
Total current liabilities	6,786	5,546
NON-CURRENT LIABILITIES
Non-current debt	6,203	6,920
Other non-current financial obligations	986	918
Pensions and other post-employment benefits	735	695
Deferred income tax liabilities	443	394
Other non-current liabilities	1,164	1,065
Total non-current liabilities	9,531	9,992
TOTAL LIABILITIES	16,317	15,538
Controlling interest:
Common stock and additional paid-in capital	7,699	7,810
Other equity reserves and subordinated notes	(363)	(1,555)
Retained earnings	4,428	4,246
Total controlling interest	11,764	10,501
Non-controlling interest	352	408
TOTAL STOCKHOLDERS' EQUITY	12,116	10,909
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 28,433	$ 26,447

Principal Subsidiaries - Summary of Principal Subsidiaries Interests (Detail)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Cemex España, S.A. [member]
Disclosure of subsidiaries [line items]
Name of subsidiary	Cemex España, S.A.
Country of incorporation of subsidiary	Spain
Proportion of ownership interest in subsidiary	99.90%	99.90%
Cemex, Inc. [member]
Disclosure of subsidiaries [line items]
Name of subsidiary	Cemex, Inc.
Country of incorporation of subsidiary	United States of America
Proportion of ownership interest in subsidiary	100.00%	100.00%
Cemex Nicaragua, S.A. [member]
Disclosure of subsidiaries [line items]
Name of subsidiary	Cemex Nicaragua, S.A.
Country of incorporation of subsidiary	Nicaragua
Proportion of ownership interest in subsidiary	100.00%	100.00%
Assiut Cement Company [Member]
Disclosure of subsidiaries [line items]
Name of subsidiary	Assiut Cement Company
Country of incorporation of subsidiary	Egypt
Proportion of ownership interest in subsidiary	95.80%	95.80%
Cemex Colombia, S.A. [member]
Disclosure of subsidiaries [line items]
Name of subsidiary	Cemex Colombia, S.A.
Country of incorporation of subsidiary	Colombia
Proportion of ownership interest in subsidiary	99.70%	99.70%
Cemento Bayano, S.A. [member]
Disclosure of subsidiaries [line items]
Name of subsidiary	Cemento Bayano, S.A.
Country of incorporation of subsidiary	Panama
Proportion of ownership interest in subsidiary	99.50%	99.50%
Cemex Dominicana, S.A. [member]
Disclosure of subsidiaries [line items]
Name of subsidiary	Cemex Dominicana, S.A.
Country of incorporation of subsidiary	Dominican Republic
Proportion of ownership interest in subsidiary	100.00%	100.00%
Trinidad Cement Limited [member]
Disclosure of subsidiaries [line items]
Name of subsidiary	Trinidad Cement Limited
Country of incorporation of subsidiary	Trinidad and Tobago
Proportion of ownership interest in subsidiary	69.80%	69.80%
Caribbean Cement Company Limited [member]
Disclosure of subsidiaries [line items]
Name of subsidiary	Caribbean Cement Company Limited
Country of incorporation of subsidiary	Jamaica
Proportion of ownership interest in subsidiary	79.00%	79.00%
Cemex de Puerto Rico Inc. [member]
Disclosure of subsidiaries [line items]
Name of subsidiary	Cemex de Puerto Rico Inc.
Country of incorporation of subsidiary	Puerto Rico
Proportion of ownership interest in subsidiary	100.00%	100.00%
Cemex France Gestion (S.A.S.) [member]
Disclosure of subsidiaries [line items]
Name of subsidiary	Cemex France Gestion (S.A.S.)
Country of incorporation of subsidiary	France
Proportion of ownership interest in subsidiary	100.00%	100.00%
Cemex Holdings Philippines, Inc. [member]
Disclosure of subsidiaries [line items]
Name of subsidiary	Cemex Holdings Philippines, Inc.
Country of incorporation of subsidiary	Philippines
Proportion of ownership interest in subsidiary	89.90%	77.90%
Solid Cement Corporation [member]
Disclosure of subsidiaries [line items]
Name of subsidiary	Solid Cement Corporation
Country of incorporation of subsidiary	Philippines
Proportion of ownership interest in subsidiary	100.00%	100.00%
APO Cement Corporation [member]
Disclosure of subsidiaries [line items]
Name of subsidiary	APO Cement Corporation
Country of incorporation of subsidiary	Philippines
Proportion of ownership interest in subsidiary	100.00%	100.00%
Cemex U.K. [member]
Disclosure of subsidiaries [line items]
Name of subsidiary	Cemex U.K.
Country of incorporation of subsidiary	United Kingdom
Proportion of ownership interest in subsidiary	100.00%	100.00%
Cemex Deutschland, AG.[member]
Disclosure of subsidiaries [line items]
Name of subsidiary	Cemex Deutschland, AG.
Country of incorporation of subsidiary	Germany
Proportion of ownership interest in subsidiary	100.00%	100.00%
Cemex Czech Republic, s.r.o. [member]
Disclosure of subsidiaries [line items]
Name of subsidiary	Cemex Czech Republic, s.r.o.
Country of incorporation of subsidiary	Czech Republic
Proportion of ownership interest in subsidiary	100.00%	100.00%
Cemex Polska sp. Z.o.o.[member]
Disclosure of subsidiaries [line items]
Name of subsidiary	Cemex Polska sp. Z.o.o.
Country of incorporation of subsidiary	Poland
Proportion of ownership interest in subsidiary	100.00%	100.00%
Cemex Holdings (Israel) Ltd. [member]
Disclosure of subsidiaries [line items]
Name of subsidiary	Cemex Holdings (Israel) Ltd.
Country of incorporation of subsidiary	Israel
Proportion of ownership interest in subsidiary	100.00%	100.00%
Cemex Topmix LLC, Cemex Supermix LLC and Cemex Falcon LLC [member]
Disclosure of subsidiaries [line items]
Name of subsidiary	Cemex Topmix LLC, Cemex Supermix LLC and Cemex Falcon LLC
Country of incorporation of subsidiary	United Arab Emirates
Proportion of ownership interest in subsidiary	100.00%	100.00%
Cemex International Trading LLC [member]
Disclosure of subsidiaries [line items]
Name of subsidiary	Cemex International Trading LLC
Country of incorporation of subsidiary	United States of America
Proportion of ownership interest in subsidiary	100.00%	100.00%
Sunbulk Shipping Limited [Member]
Disclosure of subsidiaries [line items]
Name of subsidiary	Sunbulk Shipping Limited
Country of incorporation of subsidiary	Bahamas
Proportion of ownership interest in subsidiary	100.00%	100.00%

Other Current and Non-current Liabilities - Summary of Other Current Liabilities (Parenthetical) (Detail) - USD ($)
$ in Millions

Dec. 31, 2023

Dec. 31, 2022

Statement [line Items]

Deferred revenue current

^[1]

$ 384

$ 293

Statement [line Items]

Current advances from contract with customers received

339

253

Deferred revenue current

$ 5

[1]

As of December 31, 2023 and 2022, contract liabilities with customers included $339 and $253, respectively, of advances received from customers, as well as in 2023 and 2022 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.

Goodwill and Intangible Assets, Net - Summary of Goodwill Balances Allocated by Operating Segment (Detail) - USD ($)
$ in Millions

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Jul. 09, 2021

Disclosure of reconciliation of changes in intangible assets and goodwill [line items]

$ 7,674

$ 7,538

$ 7,984

$ 41

Disclosure of reconciliation of changes in intangible assets and goodwill [line items]

441

384

Disclosure of reconciliation of changes in intangible assets and goodwill [line items]

6,176

Disclosure of reconciliation of changes in intangible assets and goodwill [line items]

264

250

Disclosure of reconciliation of changes in intangible assets and goodwill [line items]

207

201

Disclosure of reconciliation of changes in intangible assets and goodwill [line items]

Disclosure of reconciliation of changes in intangible assets and goodwill [line items]

Philippines [member]

Disclosure of reconciliation of changes in intangible assets and goodwill [line items]

Rest of EMEAA [member]

^[1]

Disclosure of reconciliation of changes in intangible assets and goodwill [line items]

Disclosure of reconciliation of changes in intangible assets and goodwill [line items]

254

202

Caribbean TCL [member]

Rest of South, Central America and the Caribbean [member]

Disclosure of reconciliation of changes in intangible assets and goodwill [line items]

^[2]

$ 58

$ 65

[1]	This caption refers to the operating segments in Israel, the Czech Republic, Egypt and Germany.
[2]	This caption refers to the operating segments in the Dominican Republic, the Caribbean and Panama.

Subsequent Events - Additional Information (Detail) $ / shares in Units, € in Millions, $ in Millions	Apr. 11, 2024 EUR (€)	Mar. 22, 2024 USD ($)	Feb. 26, 2024 USD ($)	Feb. 16, 2024 MXN ($)	Dec. 03, 2021 USD ($)	Apr. 25, 2024	Feb. 16, 2024 $ / shares	Oct. 05, 2023 MXN ($)
Income tax return 2010 to 2014 [Member] \| Spanish Tax Authority [Member]
Disclosure of non-adjusting events after reporting period [line items]
Income Tax Penalty Imposed					$ 75
Cemex, S.A.B. de C.V. 2023 CEBURES variable rate [Member]
Disclosure of non-adjusting events after reporting period [line items]
Debt instrument face value								$ 1,000,000,000
Borrowings adjustment to interest rate percentage								0.45%
Cemex S A B de C V 2023 CEBURES fixed rate [Member]
Disclosure of non-adjusting events after reporting period [line items]
Borrowings, interest rate								11.48%
Debt instrument face value								$ 5,000,000,000
Events after reporting period [member] \| Income tax return 2010 to 2014 [Member]
Disclosure of non-adjusting events after reporting period [line items]
Adjustments for current tax of prior periods			$ 117
Dividend Declared [Member]
Disclosure of non-adjusting events after reporting period [line items]
Dividends proposed or declared before financial statements authorized for issue but not recognized as distribution to owners		$ 120
Maximum Amount Authorized For Share Repurchase [Member]
Disclosure of non-adjusting events after reporting period [line items]
Maximum amount authorized for share repurchase		$ 500
Reopening And Placement Of Sustainability Linked Notes [Member] \| Cemex, S.A.B. de C.V. 2023 CEBURES variable rate [Member]
Disclosure of non-adjusting events after reporting period [line items]
Long-term borrowings maturity date				Oct. 01, 2026
Debt instrument face value				$ 2,000,000,000
Borrowings adjustment to interest rate percentage				0.45%
Debt instrument issue price per share \| $ / shares							$ 100.862623
Reopening And Placement Of Sustainability Linked Notes [Member] \| 2023 CEBURES [Member]
Disclosure of non-adjusting events after reporting period [line items]
Debt instrument face value				$ 5,500
Reopening And Placement Of Sustainability Linked Notes [Member] \| Cemex S A B de C V 2023 CEBURES fixed rate [Member]
Disclosure of non-adjusting events after reporting period [line items]
Borrowings, interest rate				11.48%
Long-term borrowings maturity date				Sep. 26, 2030
Debt instrument face value				$ 3,500,000,000
Debt instrument issue price per share \| $ / shares							$ 108.225627
Relaunching Of Sustainability Linked Syndicated Credit Agreement [Member] \| Two Thousand And Twenty Three Credit Agreement [Member]
Disclosure of non-adjusting events after reporting period [line items]
Term Loan Facility Converted Into Revolving Credit Facility Value \| €	€ 50
Relaunching Of Sustainability Linked Syndicated Credit Agreement [Member] \| Two Thousand And Twenty Three Credit Agreement [Member] \| Five year amortizing term loan [Member]
Disclosure of non-adjusting events after reporting period [line items]
Line of credit ,Maximum Amount \| €	€ 450
Line of credit ,Expiration period	5 years
Relaunching Of Sustainability Linked Syndicated Credit Agreement [Member] \| Two Thousand And Twenty Three Credit Agreement [Member] \| Four Year Committed Revolving Credit Facility [Member]
Disclosure of non-adjusting events after reporting period [line items]
Line of credit ,Maximum Amount \| €	€ 300
Line of credit ,Expiration period	4 years
Changes in tax rates or tax laws enacted or announced [member] \| Income tax return 2010 to 2014 [Member] \| Spanish Tax Authority [Member]
Disclosure of non-adjusting events after reporting period [line items]
Income Tax Penalty Imposed			$ 66
Separate Agreements With Subsidiaries [Member] \| CASEC [Member]
Disclosure of non-adjusting events after reporting period [line items]
Business combination percentage of equity interest						100.00%
Separate Agreements With Subsidiaries [Member] \| CHP [Member]
Disclosure of non-adjusting events after reporting period [line items]
Business combination percentage of equity interest						89.86%
Separate Agreements With Subsidiaries [Member] \| IQAC [Member]
Disclosure of non-adjusting events after reporting period [line items]
Business combination percentage of equity interest						100.00%

Other Current and Non-current Liabilities - Changes in Consolidated Other Current and Non-current Liabilities (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure of other provisions [line items]
Balance at beginning of period	$ 1,341	$ 1,539
Additions or increase in estimates	532	270
Releases or decrease in estimates	(314)	(486)
Business combinations	0	6
Accretion expense	42	32
Foreign currency translation	55	(20)
Balance at end of period	1,656	1,341
Current provisions	492	276
Other non-current liabilities	1,164	1,065
Asset retirement obligations [Member]
Disclosure of other provisions [line items]
Balance at beginning of period	509
Additions or increase in estimates	64
Releases or decrease in estimates	(58)
Business combinations	0
Accretion expense	30
Foreign currency translation	28
Balance at end of period	573	509
Current provisions	103
Other non-current liabilities	470
Environmental liabilities [Member]
Disclosure of other provisions [line items]
Balance at beginning of period	276
Additions or increase in estimates	11
Releases or decrease in estimates	(15)
Business combinations	0
Foreign currency translation	7
Balance at end of period	279	276
Current provisions	29
Other non-current liabilities	250
Legal proceedings provision [Member]
Disclosure of other provisions [line items]
Balance at beginning of period	85
Additions or increase in estimates	49
Releases or decrease in estimates	(34)
Business combinations	0
Accretion expense	1
Foreign currency translation	4
Balance at end of period	105	85
Current provisions	5
Other non-current liabilities	100
Valuation derivative instruments [Member]
Disclosure of other provisions [line items]
Balance at beginning of period	50
Additions or increase in estimates	169
Releases or decrease in estimates	(123)
Business combinations	0
Foreign currency translation	(1)
Balance at end of period	95	50
Current provisions	80
Other non-current liabilities	15
Other liabilities and provisions [Member]
Disclosure of other provisions [line items]
Balance at beginning of period	421
Additions or increase in estimates	239
Releases or decrease in estimates	(84)
Business combinations	0
Accretion expense	11
Foreign currency translation	17
Balance at end of period	604	$ 421
Current provisions	275
Other non-current liabilities	$ 329

Property, Machinery and Equipment, Net and Assets For The Right-Of-Use, Net - Disclosure of Net Change in Property, Machinery and Equipment (Parenthetical) (Detail) T in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) T	Dec. 31, 2022 USD ($)
Colombia [member]
Disclosure of detailed information about property, plant and equipment [line items]
Annual production capacity \| T	1.3
United States [member]
Disclosure of detailed information about property, plant and equipment [line items]
Sale of fixed assets	$ 23	$ 5
France [member]
Disclosure of detailed information about property, plant and equipment [line items]
Sale of fixed assets	16
United Kingdom [member]
Disclosure of detailed information about property, plant and equipment [line items]
Sale of fixed assets		$ 5
Construction in progress [member] \| Colombia [member]
Disclosure of detailed information about property, plant and equipment [line items]
Carrying amount of plant	$ 308

Other Expenses, Net (Tables)

12 Months Ended

Dec. 31, 2023

Summary of Other Expenses

The detail of the caption “Other expenses, net” for the years 2023, 2022 and 2021 is as follows:


		2023			2022			2021
Results from the sale of assets and others 1	$		(219	)		9			(126	)
Impairment losses (notes 15.1, 16.1 and 16.2)			(43	)		(442	)		(513	)
Restructuring costs 2			(2	)		(20	)		(17	)
Incremental expenses related to the COVID-19 Pandemic 3			(1	)		(14	)		(26	)
Sale of CO2 allowances (note 28.13) 4			–			–			600

	$		(265	)		(467	)		(82	)

In 2023, 2022 and 2021, includes $13, $14 and $29, respectively, in connection with property damage related to natural disasters (note 25.1). In addition, in 2022 includes a gain of $48 as a result of the remeasurement at fair value of Cemex’s previous controlling interest in Neoris at the time of sale.

2	Restructuring costs mainly refer to severance payments and the definitive closing of operating sites.

Refers to certain incremental expenses that Cemex considers of

non-recurring

nature related to the maintenance of some hygiene measures related to the Coronavirus

SARS-CoV-2

pandemic declared in March 2020 (the

“COVID-19

Pandemic”). From the beginning of the

COVID-19

Pandemic and to the present day, attending official dispositions of the authorities, Cemex has followed strict hygiene, sanitary and security protocols in all its operations and has modified its manufacturing, selling and distribution processes aiming to protect the health and safety of its employees and their families, customers and communities.

In connection with the EU’s Emissions Trading System (“EU ETS”), during March 2021, considering Cemex’s targets for the reduction of CO

emissions (note 24.4), as well as the innovative technologies and considerable capital investments that have to be deployed to achieve such goals, Cemex sold 12.3 million CO

emission allowances (“Allowances”) for an aggregate amount of $600.

Investments In Associates And Joint Ventures, Other Investments And Non-Current Accounts Receivable (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Miscellaneous non-current assets [abstract]
Non-current accounts receivable	$ 272	$ 228
Non-current portion of assets from valuation of derivative financial instruments (note 17.4)	64	57
Investments in strategic equity securities	3	5
Investments at fair value through the statements of income	1	3
Other investments and non-current accounts receivable	$ 340	$ 293

Other Current and Non-current Liabilities (Tables)

12 Months Ended

Dec. 31, 2023

Summary of Other Current Liabilities

As of December 31, 2023 and 2022, consolidated other current liabilities were as follows:


		2023		2022

Other accounts payable and accrued expenses 1	$		656		560
Provisions 2			492		276
Contract liabilities with customers (note 3) 3			384		293
Interest payable			88		96

	$		1,620		1,225

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 18.2 below.

Summary of Other Non-current Liabilities

As of December 31, 2023 and 2022, consolidated other

non-current

liabilities were as follows:


		2023		2022

Asset retirement obligations 1	$		470		465
Environmental liabilities 2			250		233
Accruals for legal assessments and other responsibilities 3			100		83
Non-current liabilities for valuation of derivative instruments			15		2
Other non-current liabilities and provisions 4			329		282

	$		1,164		1,065

1	Provisions for asset retirement 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, 2023 and 2022, the balance includes deferred revenues of $22 and $27, respectively, that are amortized to the statement of income as deliverables are fulfilled over the maturity of long-term clinker supply agreements.

Summary of Changes in Consolidated Other Current and Non-Current Liabilities

Changes in consolidated

non-current

other liabilities plus current provisions for the years 2023 and 2022, were as follows:


		2023
		Asset retirement obligations			Environmental liabilities			Accruals for legal proceedings			Valuation of derivative instruments			Other liabilities and provisions			Total			2022
Balance at beginning of period	$		509			276			85			50			421			1,341			1,539
Additions or increase in estimates			64			11			49			169			239			532			270
Releases or decrease in estimates			(58	)		(15	)		(34	)		(123	)		(84	)		(314	)		(486	)
Business combinations			–			–			–			–			–			–			6
Accretion expense			30			–			1			–			11			42			32
Foreign currency translation			28			7			4			(1	)		17			55			(20	)

Balance at end of period	$		573			279			105			95			604			1,656			1,341

Out of which:
Current provisions	$		103			29			5			80			275			492			276
Other non-current liabilities			470			250			100			15			329			1,164			1,065

Cash and Cash Equivalents

12 Months Ended

Dec. 31, 2023

Cash and Cash Equivalents

9)	CASH AND CASH EQUIVALENTS

The balance in this caption is comprised of available amounts of cash and cash equivalents, represented by

low-risk,

highly liquid short-term investments readily convertible into known amounts of cash, including overnight investments, which yield fixed returns and have maturities of less than three months from the investment date. These fixed-income investments are recorded at cost plus accrued interest.

Accrued interest is included in the statement of income as part of “Financial income and other items, net.”

As of December 31, 2023 and 2022, consolidated cash and cash equivalents consisted of:


		2023		2022
Cash and bank accounts	$		363		297
Fixed-income securities and other cash equivalents			261		198

	$		624		495

Stockholders' Equity - Summary of Translation Effects of Foreign Subsidiaries Included in Statements of Comprehensive Income (Loss) (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Exchange differences on translation [abstract]
Foreign currency translation result	$ 356	$ (235)	$ (476)
Foreign exchange fluctuations from debt	(28)	(23)	89
Foreign exchange fluctuations from intercompany balances	(73)	(68)	(13)
Translation effects of foreign subsidiaries, net	$ 255	$ (326)	$ (400)

Pensions and Post-Employment Benefits - Summary of Plan Assets Measured at Estimated Fair Value (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of fair value of plan assets [line items]
Cash	$ 24	$ 38
Investments in corporate bonds	402	296
Investments in government bonds	323	356
Total fixed-income securities	749	690
Investment in marketable securities	222	268
Other investments and private funds	304	250
Total variable-income securities	526	518
Total plan assets	1,275	1,208	$ 1,784
Level 1 [Member]
Disclosure of fair value of plan assets [line items]
Cash	24	38
Investments in corporate bonds	11	7
Investments in government bonds	114	90
Total fixed-income securities	149	135
Investment in marketable securities	179	226
Other investments and private funds	70	91
Total variable-income securities	249	317
Total plan assets	398	452
Level 2 [Member]
Disclosure of fair value of plan assets [line items]
Investments in corporate bonds	391	289
Investments in government bonds	209	266
Total fixed-income securities	600	555
Investment in marketable securities	43	42
Other investments and private funds	33	42
Total variable-income securities	76	84
Total plan assets	676	639
Level 3 [Member]
Disclosure of fair value of plan assets [line items]
Other investments and private funds	201	117
Total variable-income securities	201	117
Total plan assets	$ 201	$ 117

Financial Instruments - Schedule of Lines of Credit (Detail) $ in Millions	Dec. 31, 2023 USD ($)
Disclosure of detailed information about financial instruments [abstract]
Other lines of credit in foreign subsidiaries	$ 401
Other lines of credit from banks	774
Revolving credit facility	2,000
Total	3,175
Other lines of credit in foreign subsidiaries, available	274
Other lines of credit from banks, available	774
Revolving credit facility, available	1,400
Total, available	$ 2,448

Revenue (Tables)

12 Months Ended

Dec. 31, 2023

Summary of Revenue, After Sales and Eliminations Between Related Parties Resulting from Consolidation

For the years ended December 31, 2023, 2022 and 2021, revenues were as follows:


		2023		2022		2021
From the sale of goods associated to Cemex’s main activities 1	$		16,904		15,137		14,009
From the sale of other goods and services 2			484		440		370

	$		17,388		15,577		14,379

1	During the reported periods, revenues recognized over time under construction contracts were not significant.

2	Refers mainly to revenues generated by subsidiaries not individually significant operating in different lines of business.

Summary of Changes in the Balance of Contract Liabilities with Customers

For the years ended December 31, 2023, 2022 and 2021 changes in the balance of contract liabilities with customers are as follows:


		2023			2022			2021
Opening balance of contract liabilities with customers	$		293			257			201
Increase during the period for new transactions			1,603			1,493			1,626
Decrease during the period for exercise or expiration of incentives			(1,519	)		(1,458	)		(1,574	)
Currency translation effects			7			1			4

Closing balance of contract liabilities with customers	$		384			293			257

For the years 2023, 2022 and 2021, any costs capitalized as contract fulfillment assets and released over the contract life according to IFRS 15,

Revenues from contracts with customers

were not significant.

Description of Business

12 Months Ended

Dec. 31, 2023

Description of Business

1)	DESCRIPTION OF BUSINESS

Cemex, S.A.B. de C.V., originated in 1906, is a publicly traded variable stock corporation

(Sociedad Anónima Bursátil de Capital Variable)

organized under the laws of the United Mexican States, or Mexico, and is the parent company of entities whose main activities are oriented to the construction industry, through the production, marketing, sale and distribution of cement,

ready-mix

concrete, aggregates, urbanization solutions and other construction materials and services. In addition, Cemex, S.A.B. de C.V. performs significant business and operational activities in Mexico.

The shares of Cemex, S.A.B. de C.V. are listed on the Mexican Stock Exchange (“MSE”) as Ordinary Participation Certificates (“CPOs”) (

Certificados de Participación Ordinaria

) under the symbol “CemexCPO.” Each CPO represents two series “A” shares and one series “B” share of common stock of Cemex, S.A.B. de C.V. In addition, Cemex, S.A.B. de C.V.’s shares are listed on the New York Stock Exchange (“NYSE”) as

American Depositary Shares

(“ADSs”) under the symbol “CX.” Each ADS represents ten CPOs.

The terms “Cemex, S.A.B. de C.V.” and/or the “Parent Company” used in these accompanying notes to the financial statements refer to Cemex, S.A.B. de C.V. without its consolidated subsidiaries. The terms “Company” or “Cemex” refer to Cemex, S.A.B. de C.V. together with its consolidated subsidiaries.

The issuance of these consolidated financial statements was authorized by the Board of Directors of Cemex, S.A.B. de C.V. on February 7, 2024 considering the favorable recommendation of its Audit Committee. These financial statements were approved by the annual general ordinary shareholders’ meeting of the Parent Company on March 22, 2024.

Other Current Assets (Tables)

12 Months Ended

Dec. 31, 2023

Summary of Detailed Information About Other Current Assets

As of December 31, 2023 and 2022, assets held for sale and other current assets were detailed as follows:


		2023		2022
Other current assets	$		142		115
Assets held for sale			49		68

	$		191		183

Goodwill and Intangible Assets, Net

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets, Net

16)	GOODWILL AND INTANGIBLE ASSETS, NET

16.1)

BALANCES AND CHANGES DURING THE PERIOD

As of December 31, 2023 and 2022, consolidated goodwill, intangible assets and deferred charges were summarized as follows:


		2023								2022

		Cost		Accumulated amortization			Carrying amount			Cost		Accumulated amortization			Carrying amount

Intangible assets of indefinite useful life:
Goodwill	$		7,674		–			7,674	$		7,538		–			7,538
Intangible assets of definite useful life:
Extraction rights			1,768		(479	)		1,289			1,729		(452	)		1,277
Internally developed software			973		(639	)		334			820		(534	)		286
Customer relationships			196		(196	)		–			196		(196	)		–
Mining projects			47		(7	)		40			39		(6	)		33
Industrial property and trademarks			32		(16	)		16			32		(15	)		17
Other intangible assets			357		(180	)		177			305		(163	)		142

	$		11,047		(1,517	)		9,530	$		10,659		(1,366	)		9,293

Changes in consolidated goodwill for the years ended December 31, 2023 and 2022, were as follows:


		2023		2022

Balance at beginning of period	$		7,538		7,984
Impairment losses (notes 7 and 16.2)			–		(365)
Business combinations (note 4.1)			8		4
Foreign currency translation effects			128		(85)

Balance at end of period	$		7,674		7,538

Changes in intangible assets of definite life in 2023 and 2022, were as follows:


		2023

		Extraction rights			Internally developed software 1			Mining projects			Industrial property and trademarks			Others			Total

Balance at beginning of period	$		1,277			286			33			17			142			1,755
Amortization for the period			(42	)		(91	)		(1	)		(1	)		(20	)		(155)
Impairment losses (note 7)			(7	)		–			–			–			–			(7)
Additions (decreases), net 1			2			148			7			2			48			207
Business combinations			26			–			–			–			–			26
Foreign currency translation effects			33			(9	)		1			(2	)		7			30

Balance at the end of period	$		1,289			334			40			16			177			1,856


		2022

		Extraction rights			Internally developed software 1			Mining projects			Industrial property and trademarks			Others			Total

Balance at beginning of period	$		1,350			228			45			23			133			1,779
Amortization for the period			(44	)		(73	)		(1	)		(7	)		(13	)		(138)
Additions (decreases), net 1			(10	)		136			(10	)		–			35			151
Foreign currency translation effects			(19	)		(5	)		(1	)		1			(13	)		(37)

Balance at the end of period	$		1,277			286			33			17			142			1,755

1	Includes the capitalized direct costs incurred in the development stage of internal-use software, such as professional fees, direct labor and related travel expenses. The capitalized amounts are amortized to the statement of income over a period ranging from 3 to 5 years.

In 2021, out of the impairment losses recognized in the caption of “Other expenses, net” (note 7), $53 related to intangible assets, of which, $49 referred to internally developed software capitalized in prior periods, considering certain obsolescence generated by the significant replacement of the applications platform during that year.

16.2)

ANALYSIS OF GOODWILL IMPAIRMENT

Based on IFRS, Cemex analyses the possible impairment of goodwill mandatorily at least once a year. This analysis is made during the last quarter, or additionally on any interim date when impairment indicators exist, by means of determining the value in use of its groups of Cash Generating Units (“CGUs”) to which goodwill balances have been allocated. The value in use represents the discounted cash flow projections of each CGU for the next five years plus a terminal value using risk adjusted discount rates.

In 2023, Cemex did not determine goodwill impairment losses considering the increase in the Company’s projected cash flows linked to the improved generation of Operating EBITDA in the majority of the countries in which Cemex operates to which goodwill balances have been allocated and the positive outlook for the following years, partly offset by the general increase in the applicable discount rates as compared to 2022, which on average increased 120 basis points or 1.2%.

In 2022, as part of the mandatory impairment tests during the fourth quarter, Cemex recognized within “Other expenses, net” (note 7),

non-cash

goodwill impairment losses for an aggregate amount of $365, of which, $273 correspond to the operating segment in the United States and $92 correspond to the operating segment in Spain. In both cases, the related book value of the operating segment exceeded the corresponding value in use. The impairment losses in 2022 are mainly related to the significant increase in the discount rates as compared to 2021 and the resulting significant decrease in the Company’s projected cash flows in these segments considering the global high inflationary environment, which increased the risk-free rates, and the material increase in the funding cost observed in the industry during the period. These negative effects more than offset the expected improvements in the estimated Operating EBITDA generation in both the United States and Spain.

In 2021, the Company recognized within “Other expenses, net” (note 7) in the statement of income,

non-cash

goodwill impairment losses for an aggregate amount of $440, related to the operating segments in Spain of $317, United Arab Emirates (“UAE”) of $96 as well as $27 related to Neoris due to reorganization. The impairment losses in Spain and UAE referred closely to disruptions in the supply chains that have generated increases in the estimated production and transportation costs that were considered to be sustained in the

mid-term,

which significantly reduced the projected Operating EBITDA as compared to the valuations determined as of December 31, 2020.

As of December 31, 2023 and 2022, goodwill balances allocated by Operating Segment after impairment adjustments were as follows:


		2023	2022

Mexico	$	441	384
United States		6,176	6,176
EMEAA
United Kingdom		264	250
France		207	201
Spain		59	57
Philippines		82	82
Rest of EMEAA 1		50	38
SCA&C
Colombia		254	202
Caribbean TCL		83	83
Rest of SCA&C 2		58	65

	$	7,674	7,538

1	This caption refers to the operating segments in Israel, the Czech Republic, Egypt and Germany.

2	This caption refers to the operating segments in the Dominican Republic, the Caribbean and Panama.

As of December 31, 2023, 2022 and 2021, Cemex’s

pre-tax

discount rates and long-term growth rates used to determine the discounted cash flows in the group of CGUs with the main goodwill balances were as follows:


	Discount rates			Long-term growth rates 1

Groups of CGUs	2023	2022	2021	2023	2022	2021

United States	10.1%	9.1%	7.2%	2.0%	2.0%	2.0%
United Kingdom	10.4%	9.1%	7.3%	1.5%	1.5%	1.5%
France	10.4%	9.2%	7.3%	1.5%	1.4%	1.4%
Spain	10.7%	9.4%	7.6%	1.6%	1.7%	1.5%
Mexico	11.6%	10.3%	8.4%	1.0%	1.1%	1.0%
Colombia	12.7%	10.9%	8.5%	3.3%	3.3%	3.5%
Range of rates in other countries	10.3% – 17.0%	9.3% – 13.9%	7.4% – 11.7%	1.5% – 6.4%	1.5% – 6.0%	1.7% – 6.0%

1	The long-term growth rates are generally based on projections issued by the International Monetary Fund (“IMF”).

As of December 31, 2023, the discount rates used by the Company in its cash flows projections to determine the value in use of its operating segments or CGUs in which goodwill has been allocated, increased by a weighted average of 1.2% with respect to the discount rates determined at December 31, 2022, mainly considering the increase in the risk-free rate associated to Cemex segments which changed from 3.58% in 2022 to 4.79% in 2023, as well as the reduction in the weight of debt which changed from 27% in 2022 to 22.5% in 2023. This was partially offset by the reduction in the public comparable companies’ stock volatility (beta) which changed from 1.08 in 2022 to 1.07 in 2023. In 2023, the funding cost observed in the industry remained unchanged at 6.7% as compared to 2022, as well as other assumptions that remained relatively flat in 2023 as compared to 2022. As new economic data is available, these financial assumptions will be revised upwards or downwards again in the future. Cemex maintained certain reductions to the long-term growth rates used as of December 31, 2023, as compared to the IMF projections, mainly in Israel in 2.1%, Mexico in 1.0% and Egypt in 3.0%.

As of December 31, 2022, the discount rates used by Cemex in its cash flows projections to determine the value in use of its operating segments or CGUs in which goodwill has been allocated, increased by a weighted average of 2.0% with respect to the discount rates determined at December 31, 2021, mainly considering the increase in the risk-free rate associated to Cemex which changed from 1.82% in 2021 to 3.58% in 2022, the significant increase in the funding cost observed in the industry which changed from 4.1% in 2021 to 6.7% in 2022, as well as the average increase of 1.7% in the cost of equity in 2022. The other variables remained relatively flat. As new economic data is available, these financial assumptions will be revised upwards or downwards again in the future. Cemex maintained certain reductions to the long-term growth rates used as of December 31, 2022, as compared to the IMF projections, mainly in Mexico in 1.0% and Egypt in 2.85%.

Moreover, the discount rates used by Cemex as of December 31, 2021, changed slightly as compared to 2020 in a

range

-0.1%

up to 0.5%. The discount rates increased considering the weighing of debt in the calculation which decreased from 34.6% in 2020 to 26.9% in 2021 and the market risk premium which increased from 5.7% in 2020 to 5.8% in 2021. These increasing effects were offset by the decrease in the risk-free rate associated with Cemex which changed from 2.2% in 2020 to 1.8% in 2021 and the reduction in the public comparable companies’ stock volatility (beta) that changed from 1.19 in 2020 to 1.12 in 2021. As of December 31, 2021, the funding cost observed in the industry of 4.1% remained unchanged against 2020, while the specific risk rates of each country experienced mixed

non-significant

changes in 2021 compared to 2020 in most of the countries. In addition, as a preventive measure to continue considering the

COVID-19

Pandemic’s negative effects, Cemex reduced in certain countries its long-term growth rates used in their cash flows projections as of December 31, 2021, as compared to the IMF projections such as in Mexico in 1.0% and Egypt in 2.8%.

In connection with the discount rates and long-term growth rates included in the table above, Cemex verified the reasonableness of its conclusions using sensitivity analyses to changes in assumptions, affecting the value in use of all groups of CGUs with an independent reasonably possible increase of 1% in the

pre-tax

discount rate, an independent possible decrease of 1% in the long-term growth rate, as well as using multiples of Operating EBITDA, by means of which, Cemex determined a weighted-average multiple of Operating EBITDA to enterprise value observed in recent mergers and acquisitions in the industry. The average multiple was then applied to a stabilized amount of Operating EBITDA and the result was compared to the corresponding carrying amount for each group of CGUs to which goodwill had been allocated. Cemex considered an industry average Operating EBITDA multiple of 10.9 times in 2023 and 11.3 times in 2022 and 11.5 times in 2021.

In relation to the economic assumptions used by the Company described above, the additional impairment losses that would have resulted from the sensitivity analyses derived from independent changes in each of the relevant assumptions, as well as the average multiple of Operating EBITDA, in those operating segments that presented relative impairment risk as of December 31, 2023, are as follows:

Impairment effects from the sensitivity analyses to
changes in assumptions as of December 31, 2023

Operating segment

Impairment
losses
recognized

Discount rate

+1%

Long-term

growth rate

–1%

Multiples
Operating
EBITDA

10.9x

United States

–

357

–

As of December 31, 2023, except for the operating segment in the United States, which goodwill accounts for 80% of Cemex’s goodwill consolidated balance, none of the other sensitivity analyses indicated a potential impairment risk in Cemex’s operating segments. The factors considered by the Company’s management that could cause the hypothetical scenario of the previous sensitivity analysis in the United States are, in relation to the discount rate, an independent increase of 306 bps in the Company’s funding cost observed as of December 31, 2023 of 6.67% or, an independent increase in the risk-free rate of 89 bps over the rate of 4.79% in the United States. Nonetheless, such assumptions did not seem reasonable as of December 31, 2023. Cemex continually monitors the evolution of the group of CGUs to which goodwill has been allocated that have presented relative goodwill impairment risk in any of the reported periods and if the relevant economic variables and the related value in use would be negatively affected, it may result in a goodwill impairment loss in the future.

Impairment tests are significantly sensitive to the estimation of future prices of Cemex’s products, the development of operating expenses, local and international economic trends in the construction industry, the long-term growth expectations in the different markets, as well as the discount rates and the growth rates in perpetuity applied. For purposes of estimating future prices, Cemex uses, to the extent available, historical data; plus the expected increase or decrease according to information issued by trusted external sources, such as national construction or cement producer chambers and/or in governmental economic expectations. Operating expenses are normally measured as a constant proportion of revenues, following experience. However, such operating expenses are also reviewed considering external information sources in respect of inputs that behave according to international prices, such as oil and gas. Cemex uses specific

pre-tax

discount rates for each group of CGUs to which goodwill is allocated, which are applied to discount

pre-tax

cash flows. The amounts of estimated undiscounted cash flows are significantly sensitive to the growth rate in perpetuity applied. The higher the growth rate in perpetuity applied, the higher the amount of undiscounted future cash flows by group of CGUs obtained. Moreover, the amounts of discounted estimated future cash flows are significantly sensitive to the weighted average cost of capital (discount rate) applied. The higher the discount rate applied, the lower the amount of discounted estimated fu

ture cas

h flows by group of CGUs obtained.

Financial Instruments - Additional Information - Short-Term and Long-Term Debt (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of detailed information about financial instruments [line items]
Issuance of outstanding notes payables	$ 47	$ 45
Total debt	6,228	6,971	$ 7,379	$ 9,339
Long term borrowings	6,203	6,920
Premiums, fees and issuance costs paid	72	51	142
Issuance costs of new debt	16	4	37
Proportional fees and issuance costs related to the extinguished debt instruments	56	47	99
Borrowing arising from company strategy	4,227	4,028
Financial expense [Member]
Disclosure of detailed information about financial instruments [line items]
Payments for debt issue costs	$ 12	$ 6	$ 27
Other countries [member]
Disclosure of detailed information about financial instruments [line items]
Share in borrowings, percentage	6.00%	6.00%
Finance subsidiaries [member]
Disclosure of detailed information about financial instruments [line items]
Share in borrowings, percentage	94.00%	94.00%
Notes payable [member]
Disclosure of detailed information about financial instruments [line items]
Long term borrowings	$ 3,535	$ 4,160

Commitments

12 Months Ended

Dec. 31, 2023

Commitments

24)	COMMITMENTS

24.1)

CONTRACTUAL OBLIGATIONS

As of December 31, 2023, Cemex had the following contractual obligations:


		2023

Obligations		Less than 1 year		1-3 years		3-5 years		More than 5 years		Total

Long-term debt	$		25		1,614		1,734		2,902		6,275
Leases 1			340		493		282		509		1,624

Total debt and other financial obligations 2			365		2,107		2,016		3,411		7,899
Interest payments on debt 3			369		595		464		393		1,821
Pension plans and other benefits 4			173		300		296		734		1,503
Acquisition of property, plant and equipment 5			286		155		–		–		441
Purchases of services, raw materials, fuel and energy 6			674		1,043		643		611		2,971

Total contractual obligations	$		1,867		4,200		3,419		5,149		14,635

1	Represent nominal cash flows. As of December 31, 2023, the NPV of future payments under the Company’s lease contracts was $1,258, of which, $325 refers to payments from 1 to 3 years and $185 refers to payments from 3 to 5 years.

2	The schedule of debt payments, which includes current maturities, does not consider the effect of any refinancing of debt that may occur during the following years. In the past, Cemex has replaced its long-term obligations for others of a similar nature.

3	Estimated cash flows on floating rate denominated debt were determined using the floating interest rates in effect as of December 31, 2023.

4	Represents estimated annual payments under these benefits for the next ten years (note 19), including the estimate of new retirees during such future years.

5	Refers mainly to the expansion of a cement production line in the Philippines.

5-year

24.2)

OTHER COMMITMENTS

As of December 31, 2023 and 2022, Cemex was party to other commitments for several purposes, including the purchase of fuel and energy, the estimated future cash flows over maturity of which are presented in note 24.1. A description of the most significant contracts is as follows:

•

On February 8, 2022, Cemex renewed or entered into new agreements with six service providers in the fields of data processing services (back office) in finance, accounting and human resources; as well as Information Technology (“IT”) infrastructure services, support and maintenance of IT applications in the countries in which Cemex operates, for a tenure of five to seven years at an average annual cost of $60. These contracts replaced the agreements Cemex maintained with IBM, which expired on August 31, 2022.

•

Beginning in April 2016, in connection with the Ventika S.A.P.I. de C.V. and the Ventika II S.A.P.I. de C.V. wind farms (jointly “Ventikas”) located in the Mexican state of Nuevo Leon with a combined generation capacity of 252 Megawatts (“MW”), Cemex agreed to acquire a portion of the energy generated by Ventikas for its overall electricity needs in Mexico for a period of 20 years. The estimated annual cost of this agreement is $26 if Cemex receives all its energy allocation. Nonetheless, energy supply from wind is variable in nature and final amounts are determined considering the final MW per hour (“MWh”) effectively received at the agreed prices per unit.

•

Beginning in February 2010, for its overall electricity needs in Mexico, Cemex agreed with EURUS to purchase a portion of the electric energy generated for no less than 20 years. EURUS is a wind farm with an installed capacity of 250 MW operated by ACCIONA in the Mexican state of Oaxaca. The estimated annual cost of this agreement is $78 if Cemex receives all its energy allocation. Nonetheless, energy supply from wind sources is variable in nature and final amounts will be determined considering the final MWh effectively received at the agreed prices per unit.

•

Cemex maintains a commitment initiated in April 2004 to purchase the energy generated by Termoeléctrica del Golfo (“TEG”) until 2027 for its overall electricity needs in Mexico. The estimated annual cost of this agreement is $183 if Cemex receives all its energy allocation. Nonetheless, final amounts will be determined considering the final MWh effectively received at the agreed prices per unit.

•

In regards to the above, Cemex also committed to supply TEG and another third-party

electrical

energy generating plant adjacent to TEG with all fuel necessary for their operations until the year 2027, equivalent to 1.2 million tons of petroleum coke per year. Cemex covers its commitments under this agreement acquiring the volume of fuel from sources in the international markets and Mexico.

•

On October 24, 2018, Cemex, S.A.B. de C.V. entered into an energy financial hedge agreement in Mexico, commencing October 1, 2019 and for a period of 20 years. Through the contract, the Company fixed the megawatt hour cost over an electric energy volume of 400 thousand megawatts hour per year, through the payment of 25.375 Dollars per megawatt hour of electric power in exchange for a market price. The committed price to pay will increase by 1.5% annually. The differential between the agreed price and the market price is settled monthly. Cemex considers this agreement as a hedge for a portion of its aggregate consumption of electric energy in Mexico and recognizes the result of the exchange of price differentials described previously in the statements of income as a part of the costs of energy. During 2023, the Company received $3. Cemex, S.A.B. de C.V. does not record this agreement at fair value since there is no deep market for electric power in Mexico that would effectively allow for its valuation.

24.3)

COMMITMENTS FROM EMPLOYEE BENEFITS

In some countries, Cemex has self-insured health care benefits plans for its active employees, which are managed on cost-plus fee arrangements with major insurance companies or provided through health maintenance organizations. As of December 31, 2023, in particular plans, Cemex has established stop-loss limits for continued medical assistance derived from a specific cause (e.g., an automobile accident, illness, etc.) ranging for a total limit of 550 thousand Dollars. In other plans, Cemex has established stop-loss limits per employee regardless of the number of events for a total cost of 2.5 million Dollars. The contingency for Cemex if all employees qualifying for health care benefits required medical services simultaneously is significant. However, Cemex believes this scenario is remote. The amount expensed through self-insured health care benefits was $72 in 2023, $64 in 2022 and $59 in 2021.

24.4)

CLIMATE CHANGE AND COMMITMENTS FOR THE REDUCTION OF CARBON DIOXIDE (“CO

”) EMISSIONS (unaudited)

The cement industry releases CO

as part of the production process, mainly during the calcination of limestone, as well as CO

released through the use of fossil fuels in the kilns. Currently, it is estimated that the whole cement industry releases between 5% to 8% of global CO

emissions per year. In Cemex, from an estimated 57 million tons of gross CO

emissions per year, 63% are directly related to the production process (Scope 1), 5% are indirect emissions from electricity consumption (Scope 2) and the remaining 32% arise from activities related to the rest of the supply chain which includes supply and transportation (Scope 3).

Cemex has an agenda of medium-term and long-term initiatives aiming at significantly reducing its CO

emissions in order to align the Company’s efforts with the Paris Agreement objectives of limiting global warming to 1.5ºC above

pre-industrial

levels. Cemex has defined its medium-term and long-term targets, which are mainly: 1) a greater than 47% reduction in CO

emissions by 2030, compared to its 1990 baseline in Scope 1 emissions; 2) achieve a 58% reduction in Scope 2 emissions by 2030 compared to a 2020 baseline; 3) achieve reductions by 2030 compared to a 2020 baseline, of 25% in CO

emissions per ton of purchased clinker and cement, 30% in transport emissions, 40% of Scope 3 emissions per ton of purchased fuels and 42% in absolute Scope 3 emissions from the use of traded fuels; and 4) reach net zero CO

emissions across the Company by 2050. Cemex’s 2030 targets for its cement business were verified by the Science-Based Targets initiative (“SBTi”) to be in line with the 1.5ºC scenario. Also, Cemex’s 2050

net-zero

roadmap was validated by SBTi. SBTi, the foremost entity on science-based climate action goals, drives ambitious climate action in the private sector by enabling companies to set science-based emissions reduction targets.

To meet Cemex’s 2030 targets, the objectives have an impact that ranges from

-10%

to +10% in the total cash payout of the annual executive variable compensation of the Chief Executive Officer, the top senior management, and 4,500 employees, eligible for executive variable compensation. Moreover, Cemex has detailed yearly CO

roadmaps developed for each cement plant which include, among other factors: a) the increasing use of alternative fuels and electricity from clean sources as well as combustion enhancers such as hydrogen, b) the increasing use of decarbonated or lower carbon raw materials and cementitious materials to reduce the clinker factor, as well as c) a

roll-out

of other proven CO

reduction technologies and the investments required for their implementation.

Furthermore, to achieve the

net-zero

emissions target globally by 2050, Cemex is working through an open innovation platform in which it partners and collaborates with

start-ups,

universities, other industry players and entities from other industries along with the capabilities of Cemex’s Global Research and Development, Cemex Ventures, and the internal “Smart Innovation” process, Cemex is developing a robust research and development portfolio of projects aimed at identifying the most promising technologies to capture, store and utilize CO

. These new technologies should contribute beyond 2030 to fully decarbonize Cemex’s operations. To build this portfolio, Cemex is tapping into and expects to continue to tap government funding in Europe and the United States, where there are well established programs to foster innovation in the green technologies of the future. Cemex continues to pursue its strategy in the different markets where it operates.

As of the reporting date, there are no internal plans or commitments with local authorities to shut down operating assets due to climate change issues or concerns. For the years ended December 31, 2023, 2022 and 2021, the Company’s other expenses, net, in the statement of income, include expenses and losses associated with severe weather conditions of $3, $1 and $5, respectively, mainly related with winter storms in the United States in 2023, Hurricane Ian in 2022 and storms in Texas in 2021. As of December 31, 2023, Cemex does not expect additional investments, expenses, or losses in connection with these events of nature.

Property, Machinery and Equipment, Net and Assets For The Right-Of-Use, Net - Consolidated Assets For The Right-Of-Use (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure of quantitative information about right-of-use assets [line items]
Net book value at beginning of period	$ 1,128
Foreign currency translation effects	955	$ (346)
Net book value at Ending of period	1,194	1,128
Right-of-use assets [member]
Disclosure of quantitative information about right-of-use assets [line items]
Net book value at beginning of period	1,128	1,120
Additions of new leases	341	296
Cancellations and remeasurements, net	(29)	(125)
Depreciation	(204)	(258)
Foreign currency translation effects	(42)	95
Net book value at Ending of period	1,194	1,128
Gross carrying amount [member] \| Right-of-use assets [member]
Disclosure of quantitative information about right-of-use assets [line items]
Net book value at beginning of period	2,399	2,330
Net book value at Ending of period	2,612	2,399
Accumulated depreciation and amortisation [member] \| Right-of-use assets [member]
Disclosure of quantitative information about right-of-use assets [line items]
Net book value at beginning of period	(1,271)	(1,210)
Net book value at Ending of period	(1,418)	(1,271)
Land [member] \| Right-of-use assets [member]
Disclosure of quantitative information about right-of-use assets [line items]
Net book value at beginning of period	297	248
Additions of new leases	36	45
Cancellations and remeasurements, net	(10)	(15)
Depreciation	(15)	(1)
Foreign currency translation effects	13	20
Net book value at Ending of period	321	297
Land [member] \| Gross carrying amount [member] \| Right-of-use assets [member]
Disclosure of quantitative information about right-of-use assets [line items]
Net book value at beginning of period	439	395
Net book value at Ending of period	476	439
Land [member] \| Accumulated depreciation and amortisation [member] \| Right-of-use assets [member]
Disclosure of quantitative information about right-of-use assets [line items]
Net book value at beginning of period	(142)	(147)
Net book value at Ending of period	(155)	(142)
Building [member]
Disclosure of quantitative information about right-of-use assets [line items]
Foreign currency translation effects	124	(177)
Building [member] \| Right-of-use assets [member]
Disclosure of quantitative information about right-of-use assets [line items]
Net book value at beginning of period	132	196
Additions of new leases	9	21
Cancellations and remeasurements, net	(4)	(27)
Depreciation	(36)	(77)
Foreign currency translation effects	21	19
Net book value at Ending of period	122	132
Building [member] \| Gross carrying amount [member] \| Right-of-use assets [member]
Disclosure of quantitative information about right-of-use assets [line items]
Net book value at beginning of period	335	401
Net book value at Ending of period	356	335
Building [member] \| Accumulated depreciation and amortisation [member] \| Right-of-use assets [member]
Disclosure of quantitative information about right-of-use assets [line items]
Net book value at beginning of period	(203)	(205)
Net book value at Ending of period	(234)	(203)
Machinery And Equipment [Member]
Disclosure of quantitative information about right-of-use assets [line items]
Foreign currency translation effects	369	(36)
Machinery And Equipment [Member] \| Right-of-use assets [member]
Disclosure of quantitative information about right-of-use assets [line items]
Net book value at beginning of period	676	668
Additions of new leases	284	207
Cancellations and remeasurements, net	(14)	(82)
Depreciation	(141)	(165)
Foreign currency translation effects	(68)	48
Net book value at Ending of period	737	676
Machinery And Equipment [Member] \| Gross carrying amount [member] \| Right-of-use assets [member]
Disclosure of quantitative information about right-of-use assets [line items]
Net book value at beginning of period	1,570	1,513
Net book value at Ending of period	1,722	1,570
Machinery And Equipment [Member] \| Accumulated depreciation and amortisation [member] \| Right-of-use assets [member]
Disclosure of quantitative information about right-of-use assets [line items]
Net book value at beginning of period	(894)	(845)
Net book value at Ending of period	(985)	(894)
Other assets [member] \| Right-of-use assets [member]
Disclosure of quantitative information about right-of-use assets [line items]
Net book value at beginning of period	23	8
Additions of new leases	12	23
Cancellations and remeasurements, net	(1)	(1)
Depreciation	(12)	(15)
Foreign currency translation effects	(8)	8
Net book value at Ending of period	14	23
Other assets [member] \| Gross carrying amount [member] \| Right-of-use assets [member]
Disclosure of quantitative information about right-of-use assets [line items]
Net book value at beginning of period	55	21
Net book value at Ending of period	58	55
Other assets [member] \| Accumulated depreciation and amortisation [member] \| Right-of-use assets [member]
Disclosure of quantitative information about right-of-use assets [line items]
Net book value at beginning of period	(32)	(13)
Net book value at Ending of period	$ (44)	$ (32)

Business Combinations, Divestitures and Discontinued Operations and Selected Financial Information by Reportable Segment and Line of Business - Summary of Balance sheet Information by Geographic Segment (Detail) - USD ($)
$ in Millions

Dec. 31, 2023

Dec. 31, 2022

$ 28,433

$ 26,447

16,317

15,538

12,116

10,909

Reportable segments [member]

^[1]

1,417

1,362

27,178

24,612

8,673

7,711

18,505

16,901

^[1]

1,414

1,322

5,381

3,846

2,052

1,381

3,329

2,465

^[1]

264

265

12,998

12,623

2,770

2,642

10,228

9,981

^[1]

521

551

1,490

1,393

960

921

530

472

^[1]

107

963

952

467

471

496

481

^[1]

Germany [member]

509

452

289

255

220

197

^[1]

666

616

212

204

454

412

^[1]

Poland [member]

415

341

153

119

262

222

^[1]

Rest of EMEAA [member]

863

783

329

303

534

480

^[1]

1,007

742

308

274

699

468

^[1]

Panama [member]

292

302

214

^[1]

Caribbean TCL [member]

478

499

207

218

271

281

Dominican Republic [member]

^[1]

233

232

138

151

Rest of South, Central America and the Caribbean [member]

^[1]

280

268

111

104

169

164

^[1]

Philippines [member]

795

792

135

155

660

637

^[1]

Israel [member]

808

771

507

495

301

276

Other Activities [member]

^[1]

1,206

1,767

7,644

7,827

(6,438)

(6,060)

Disposal groups classified as held for sale [member]

^[1]

Equity accounted investment [member]

Equity accounted investment [member] | Reportable segments [member]

729

640

Equity accounted investment [member] | United States [member]

277

258

Equity accounted investment [member] | United Kingdom [member]

216

198

Equity accounted investment [member] | France [member]

Equity accounted investment [member] | Germany [member]

Equity accounted investment [member] | Poland [member]

Equity accounted investment [member] | Rest of EMEAA [member]

Equity accounted investment [member] | Other Activities [member]

All other assets [member]

452

382

All other assets [member] | Reportable segments [member]

27,704

25,807

All other assets [member] | Mexico [member]

26,901

24,354

All other assets [member] | United States [member]

5,381

3,846

All other assets [member] | United Kingdom [member]

12,782

12,425

All other assets [member] | France [member]

1,484

1,388

All other assets [member] | Germany [member]

922

910

All other assets [member] | Spain [member]

506

449

All other assets [member] | Poland [member]

666

616

All other assets [member] | Rest of EMEAA [member]

415

341

All other assets [member] | Colombia [member]

852

773

All other assets [member] | Panama [member]

1,007

742

All other assets [member] | Caribbean TCL [member]

292

302

All other assets [member] | Dominican Republic [member]

478

499

All other assets [member] | Rest of South, Central America and the Caribbean [member]

233

232

All other assets [member] | Philippines [member]

280

268

All other assets [member] | Israel [member]

795

792

All other assets [member] | Other Activities [member]

808

771

All other assets [member] | Disposal groups classified as held for sale [member]

754

1,385

Subclassifications of assets, liabilities and equities [abstract]

$ 49

$ 68

[1]	Capital expenditures represent: a) the purchases of property, machinery and equipment, b) stripping costs, as well as c) assets for the right-of-use incurred during the respective period (notes 15.1 and 15.2) and exclude increases related to asset retirement obligations (note 18.2).

Stockholders' Equity - Summary of Common Stock (Detail) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Series A [Member]
Disclosure of Classes of Share Capital [Line Items]
Subscribed and paid shares	29,016,656,496	29,016,656,496
Unissued shares authorized for executives' stock compensation programs	881,442,830	881,442,830
Repurchased shares	0	441,284,956
Number of shares issued	29,898,099,326	30,339,384,282
Series B [Member]
Disclosure of Classes of Share Capital [Line Items]
Subscribed and paid shares	14,508,328,248	14,508,328,248
Unissued shares authorized for executives' stock compensation programs	440,721,415	440,721,415
Repurchased shares	0	220,642,478
Number of shares issued	14,949,049,663	15,169,692,141

Other Current and Non-current Liabilities - Summary of Other Non-current Liabilities (Detail) - USD ($)
$ in Millions

Dec. 31, 2023

Dec. 31, 2022

Asset retirement obligations

^[1]

$ 470

$ 465

Environmental liabilities

^[2]

250

233

Accruals for legal assessments and other responsibilities

^[3]

100

Non-current liabilities for valuation of derivative instruments

Other non-current liabilities and provisions

^[4]

329

282

Other non-current liabilities

$ 1,164

$ 1,065

[1]	Provisions for asset retirement 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, 2023 and 2022, the balance includes deferred revenues of $22 and $27, respectively, that are amortized to the statement of income as deliverables are fulfilled over the maturity of long-term clinker supply agreements.

Trade Accounts Receivable - Summary of Allowance for Expected Credit Losses (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of financial assets [abstract]
Allowances for expected credit losses at beginning of period	$ 91	$ 101	$ 121
Charged to selling expenses	11	9	1
Deductions	(15)	(21)	(16)
Reclassification to assets held for sale	0	0	(2)
Foreign currency translation effects	3	2	(3)
Allowances for expected credit losses at end of period	$ 90	$ 91	$ 101

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

12 Months Ended

Dec. 31, 2023

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

14)	INVESTMENTS IN ASSOCIATES AND JOINT VENTURES, OTHER INVESTMENTS AND NON-CURRENT ACCOUNTS RECEIVABLE

14.1)

INVESTMENTS IN ASSOCIATES AND JOINT VENTURES

As of December 31, 2023 and 2022, the investments in common shares of associates and joint ventures, which are accounted under the equity method, were as follows:


Associates	Activity		Country		%			2023		2022
Camcem, S.A. de C.V.		Cement		Mexico		40.1	$		364		306
Concrete Supply Co. LLC		Concrete		United States		40.0			103		96
Lehigh White Cement Company		Cement		United States		36.8			83		76
Neoris N.V. 1		Technology		The Netherlands		34.8			69		62
Joint ventures
Société d’Exploitation de Carrières		Aggregates		France		50.0			24		23
Société Méridionale de Carrières		Aggregates		France		33.3			13		12
Other companies		—		—		—			73		65

							$		729		640

Out of which:
Acquisition cost							$		330		302
Equity method recognition									399		338

In connection with the sale of Cemex’s 65% stake in Neoris to Advent described in note 4.2, Cemex’s remaining equity interest in Neoris was remeasured at fair value at the date of loss of control, measured prospectively under the equity method and is presented in the line item of investments in associates and joint ventures.

Combined condensed statement of financial position information of associates and joint ventures as of December 31, 2023 and 2022 is set forth below:


		2023		2022
Current assets	$		1,761		1,603
Non-current assets			1,877		1,699

Total assets			3,638		3,302

Current liabilities			468		468
Non-current liabilities			850		774

Total liabilities			1,318		1,242

Total net assets	$		2,320		2,060

Out of the total assets amounts in 2023 and 2022 presented in the table above, Camcem, S.A. de C.V. (“Camcem”), which is the holding company of Grupo Cementos de Chihuahua, S.A.B. de C.V. (“GCC”), represented 76% and 74%, respectively. In addition, out of total liabilities, Camcem represented 77% in 2023 and 78% in 2022.

Combined selected information of the statements of income of associates and joint ventures in 2023, 2022 and 2021 is set forth below:


		2023		2022		2021
Revenues	$		2,410		2,319		1,801
Operating earnings			535		398		312
Income before income tax			394		268		219
Net income			268		186		153

Out of net income in 2023, 2022 and 2021 from the table above, amounts that Cemex participates and which reflect the share in associates and joint ventures in the Company’s statement of income, Camcem represented 59%, 53% and 49%, respectively.

The share of associates and joint ventures by reportable segment in the statements of income for 2023, 2022 and 2021 are detailed as follows:


		2023		2022			2021
Mexico	$		65		39			28
United States			21		17			18
EMEAA			10		8			8
Corporate and others			2		(34	)		–

	$		98		30			54

As of December 31, 2023 and 2022, Cemex did not have written put options for the acquisition of

non-controlling

interests.

14.2)

OTHER INVESTMENTS AND NON-CURRENT ACCOUNTS RECEIVABLE

As of December 31, 2023 and 2022, consolidated other investments and

non-current

accounts receivable were summarized as follows:


		2023		2022
Non-current accounts receivable 1	$		272		228
Non-current portion of assets from valuation of derivative financial instruments (note 17.4)			64		57
Investments in strategic equity securities			3		5
Investments at fair value through the statements of income			1		3

	$		340		293

Includes, among other items: a) accounts receivable from investees and joint ventures of $78 in 2023 and $33 in 2022, b) advances to suppliers of fixed assets of $41 in 2023 and $58 in 2022, c) employee prepaid compensation of $8 in 2023 and $12 in 2022, and d) warranty deposits of $24 in 2023 and $21 in 2022.

Financial Instruments - Summary of Consolidated Debt by Type of Instrument (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure of detailed information about financial instruments [line items]
Current maturities	$ (10)	$ (2)
Short- term	10	2
Short-term debt	25	51
Long- term	6,203	6,920
Bank loans [member]
Disclosure of detailed information about financial instruments [line items]
Short- term	10	43
Long- term	2,678	2,762
Bank loans [member] \| Loans in Foreign Countries [member]
Disclosure of detailed information about financial instruments [line items]
Short- term	10	43
Long- term	202	184
Bank loans [member] \| Syndicated loans [member]
Disclosure of detailed information about financial instruments [line items]
Long- term	2,476	2,578
Notes payable [member]
Disclosure of detailed information about financial instruments [line items]
Short- term	5	6
Long- term	3,535	4,160
Notes payable [member] \| Medium term notes [member]
Disclosure of detailed information about financial instruments [line items]
Long- term	3,508	4,140
Notes payable [member] \| Other Notes Payable [member]
Disclosure of detailed information about financial instruments [line items]
Short- term	5	6
Long- term	27	20
Total bank loans and notes payables [member]
Disclosure of detailed information about financial instruments [line items]
Short- term	15	49
Long- term	$ 6,213	$ 6,922
Bottom of range [member] \| Bank loans [member] \| Loans in Foreign Countries [member]
Disclosure of detailed information about financial instruments [line items]
Debt instrument maturity period	2024	2023
Bottom of range [member] \| Bank loans [member] \| Syndicated loans [member]
Disclosure of detailed information about financial instruments [line items]
Debt instrument maturity period	2025	2024
Bottom of range [member] \| Notes payable [member] \| Medium term notes [member]
Disclosure of detailed information about financial instruments [line items]
Debt instrument maturity period	2026	2024
Bottom of range [member] \| Notes payable [member] \| Other Notes Payable [member]
Disclosure of detailed information about financial instruments [line items]
Debt instrument maturity period	2024	2023
Top of range [member] \| Bank loans [member] \| Loans in Foreign Countries [member]
Disclosure of detailed information about financial instruments [line items]
Debt instrument maturity period	2025	2025
Top of range [member] \| Bank loans [member] \| Syndicated loans [member]
Disclosure of detailed information about financial instruments [line items]
Debt instrument maturity period	2028	2026
Top of range [member] \| Notes payable [member] \| Medium term notes [member]
Disclosure of detailed information about financial instruments [line items]
Debt instrument maturity period	2031	2031
Top of range [member] \| Notes payable [member] \| Other Notes Payable [member]
Disclosure of detailed information about financial instruments [line items]
Debt instrument maturity period	2027	2027

Financial Instruments - Summary of Fair Value of Derivative Financial Instruments at Fair Value Hierarchy (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Disclosure Of Financial Assets and Financial Liabilities [line items]
Derivative instruments	$ 64	$ 57
Investments in strategic equity securities	3	5
Other investments at fair value through earnings	1	3
Total derivative financial assets	68	65
Liabilities measured at fair value Derivative instruments	15	2
Level 1 [Member]
Disclosure Of Financial Assets and Financial Liabilities [line items]
Investments in strategic equity securities	3	5
Total derivative financial assets	3	5
Level 2 [Member]
Disclosure Of Financial Assets and Financial Liabilities [line items]
Derivative instruments	64	57
Other investments at fair value through earnings	1	3
Total derivative financial assets	65	60
Liabilities measured at fair value Derivative instruments	$ 15	$ 2

Revenue

12 Months Ended

Dec. 31, 2023

Miscellaneous current assets [abstract]

Revenues

REVENUES

Cemex’s revenues are mainly originated from the sale and distribution of cement,

ready-mix

concrete, aggregates and other construction materials and services, including urbanization solutions, and are recognized at a point in time or over time in the amount of the price, before tax on sales, expected to be received for goods and services supplied due to ordinary activities, as contractual performance obligations are fulfilled, and control of goods and services passes to the customer. Cemex grants credit for terms ranging from 15 to 90 days depending on the type and risk of each customer. For the years ended December 31, 2023, 2022 and 2021, revenues were as follows:


		2023		2022		2021
From the sale of goods associated to Cemex’s main activities 1	$		16,904		15,137		14,009
From the sale of other goods and services 2			484		440		370

	$		17,388		15,577		14,379

1	During the reported periods, revenues recognized over time under construction contracts were not significant.

2	Refers mainly to revenues generated by subsidiaries not individually significant operating in different lines of business.

Information on revenues by reportable segment and line of business for the years 2023, 2022 and 2021 is presented in note 4.3.

As of December 31, 2023 and 2022, amounts receivable for progress billings and advances received from customers of construction contracts were not significant. Moreover, for the years 2023, 2022 and 2021, revenues and costs related to construction contracts in progress were not significant.

Certain promotions and/or discounts and rebates offered as part of the sale transaction, result in a portion of the transaction price should be allocated to such commercial incentives as separate performance obligations, recognized as contract liabilities with customers, and deferred to the statement of income during the period in which the incentive is exercised by the customer or until it expires. For the years ended December 31, 2023, 2022 and 2021 changes in the balance of contract liabilities with customers are as follows:


		2023			2022			2021
Opening balance of contract liabilities with customers	$		293			257			201
Increase during the period for new transactions			1,603			1,493			1,626
Decrease during the period for exercise or expiration of incentives			(1,519	)		(1,458	)		(1,574	)
Currency translation effects			7			1			4

Closing balance of contract liabilities with customers	$		384			293			257

For the years 2023, 2022 and 2021, any costs capitalized as contract fulfillment assets and released over the contract life according to IFRS 15,

Revenues from contracts with customers

were not significant.

Goodwill and Intangible Assets, Net - Summary of Changes in intangible Asset (Parenthetical) (Detail)	12 Months Ended
	Dec. 31, 2023
Bottom of range [member]
Disclosure of detailed information about intangible assets [line items]
Capitalized direct cost amortization, period	3 years
Top of range [member]
Disclosure of detailed information about intangible assets [line items]
Capitalized direct cost amortization, period	5 years

Other Accounts Receivable - Summary of Consolidated Other Accounts Receivable (Detail) - USD ($)
$ in Millions

Dec. 31, 2023

Dec. 31, 2022

Advances of income taxes and other refundable taxes

$ 472

$ 335

Non-trade accounts receivable

^[1]

102

119

Interest and notes receivable

Loans to employees and others

Current portion of assets from valuation of derivative financial instruments

Other accounts receivable

$ 650

$ 535

[1]	Non-trade accounts receivable are mainly attributable to the sale of assets.

Financial Instruments - Summary of Long Term Notes Payable (Detail) € in Millions, $ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2023 MXN ($)	Dec. 31, 2023 EUR (€)	Oct. 05, 2023 MXN ($)	Dec. 31, 2022 USD ($)
Disclosure of detailed information about financial instruments [line items]
Long term borrowings	$ 6,203				$ 6,920
Cemex, S.A.B. de C.V. 2023 CEBURES variable rate [Member]
Disclosure of detailed information about financial instruments [line items]
Principal amount				$ 1,000
Cemex S A B de C V 2023 CEBURES fixed rate [Member]
Disclosure of detailed information about financial instruments [line items]
Principal amount				$ 5,000
Rate				11.48%
Notes payable [member]
Disclosure of detailed information about financial instruments [line items]
Long term borrowings	3,535				4,160
Notes payable [member] \| Other Notes Payable [member]
Disclosure of detailed information about financial instruments [line items]
Long term borrowings	$ 27				20
Notes payable [member] \| Cemex, S.A.B. de C.V. 2023 CEBURES variable rate [Member]
Disclosure of detailed information about financial instruments [line items]
Date of issuance	Oct. 05, 2023
Issuer	Cemex, S.A.B. de C.V.
Currency	Peso
Principal amount		$ 1,000
Rate	0.45%	0.45%	0.45%
Borrowings, interest rate basis	TIIE+.45
Maturity date	Oct. 01, 2026
Repurchased amount	$ 0
Long term borrowings	59				0
Notes payable [member] \| Cemex, S.A.B. de C.V. 2023 CEBURES variable rate [Member] \| Cost [member]
Disclosure of detailed information about financial instruments [line items]
Long term borrowings	$ 59
Notes payable [member] \| Cemex S A B de C V 2023 CEBURES fixed rate [Member]
Disclosure of detailed information about financial instruments [line items]
Date of issuance	Oct. 05, 2023
Issuer	Cemex, S.A.B. de C.V.
Currency	Peso
Principal amount		$ 5,000
Rate	11.48%	11.48%	11.48%
Maturity date	Sep. 26, 1930
Repurchased amount	$ 0
Long term borrowings	292				0
Notes payable [member] \| Cemex S A B de C V 2023 CEBURES fixed rate [Member] \| Cost [member]
Disclosure of detailed information about financial instruments [line items]
Long term borrowings	$ 295
Notes payable [member] \| CEMEX SAB de CV July 2031 Notes [Member]
Disclosure of detailed information about financial instruments [line items]
Date of issuance	Jan. 12, 2021
Issuer	Cemex, S.A.B. de C.V.
Currency	Dollar
Principal amount	$ 1,750
Rate	3.875%	3.875%	3.875%
Maturity date	Jul. 11, 1931
Repurchased amount	$ (642)
Long term borrowings	1,102				1,102
Notes payable [member] \| CEMEX SAB de CV July 2031 Notes [Member] \| Cost [member]
Disclosure of detailed information about financial instruments [line items]
Long term borrowings	$ 1,108
Notes payable [member] \| CEMEX, S.A.B. de C.V. September 2030 Notes [Member]
Disclosure of detailed information about financial instruments [line items]
Date of issuance	Sep. 17, 2020
Issuer	Cemex, S.A.B. de C.V.
Currency	Dollar
Principal amount	$ 1,000
Rate	5.20%	5.20%	5.20%
Maturity date	Sep. 17, 1930
Repurchased amount	$ (283)
Long term borrowings	714				714
Notes payable [member] \| CEMEX, S.A.B. de C.V. September 2030 Notes [Member] \| Cost [member]
Disclosure of detailed information about financial instruments [line items]
Long term borrowings	$ 717
Notes payable [member] \| CEMEX, S.A.B. de C.V. November 2029 Notes [member]
Disclosure of detailed information about financial instruments [line items]
Date of issuance	Nov. 19, 2019
Issuer	Cemex, S.A.B. de C.V.
Currency	Dollar
Principal amount	$ 1,000
Rate	5.45%	5.45%	5.45%
Maturity date	Nov. 19, 2029
Repurchased amount	$ (247)
Long term borrowings	749				749
Notes payable [member] \| CEMEX, S.A.B. de C.V. November 2029 Notes [member] \| Cost [member]
Disclosure of detailed information about financial instruments [line items]
Long term borrowings	$ 753
Notes payable [member] \| CEMEX, S.A.B. de C.V. June 2027 Notes [member]
Disclosure of detailed information about financial instruments [line items]
Date of issuance	Jun. 05, 2020
Issuer	Cemex, S.A.B. de C.V.
Currency	Dollar
Principal amount	$ 1,000
Rate	7.375%	7.375%	7.375%
Maturity date	Jun. 05, 2027
Repurchased amount	$ (1,000)
Long term borrowings					996
Notes payable [member] \| CEMEX, S.A.B. de C.V. March 2026 Notes [member]
Disclosure of detailed information about financial instruments [line items]
Date of issuance	Mar. 19, 2019
Issuer	Cemex, S.A.B. de C.V.
Currency	Euro
Principal amount \| €			€ 400
Rate	3.125%	3.125%	3.125%
Maturity date	Mar. 19, 2026
Long term borrowings	$ 441				427
Notes payable [member] \| CEMEX, S.A.B. de C.V. March 2026 Notes [member] \| Cost [member]
Disclosure of detailed information about financial instruments [line items]
Long term borrowings	$ 442
Notes payable [member] \| CEMEX Materials LLC July 2025 Notes [member]
Disclosure of detailed information about financial instruments [line items]
Date of issuance	Apr. 01, 2003
Issuer	Cemex Materials LLC
Currency	Dollar
Principal amount	$ 150
Rate	7.70%	7.70%	7.70%
Maturity date	Jul. 21, 2025
Long term borrowings	$ 151				$ 152
Notes payable [member] \| CEMEX Materials LLC July 2025 Notes [member] \| Cost [member]
Disclosure of detailed information about financial instruments [line items]
Long term borrowings	$ 150

Inventories - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Classes of current inventories [abstract]
Inventory impairment losses recognized within cost of sales	$ 7	$ 10	$ 4

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions		12 Months Ended
	Dec. 03, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of Income Taxes [Line Items]
pre-tax income		$ 1,796
Current tax expense income and adjustments for current tax of prior periods		1,147	$ 170	$ 172
Income tax provision current		492	$ 276
Income tax return 2012 [member] \| Columbia Tax Authority [Member]
Disclosure of Income Taxes [Line Items]
Prior year tax loss carryforwards value				32
Income tax penalty imposed				$ 32
Income tax return 2011 [member] \| Columbia Tax Authority [Member]
Disclosure of Income Taxes [Line Items]
Prior year tax loss carryforwards value					$ 22
Income tax penalty imposed					$ 22
Income tax return 2010 to 2014 [Member] \| Spanish Tax Authority [Member]
Disclosure of Income Taxes [Line Items]
Income tax penalty imposed	$ 75
Additional income tax payable due to assessment		53
Income tax return 2010 to 2014 [Member] \| Spanish Tax Authority [Member] \| Provision For Income Taxes [Member]
Disclosure of Income Taxes [Line Items]
Prior year tax loss carryforwards value		117
Income tax provision current		117
Income tax return 2006 to 2009 [Member]
Disclosure of Income Taxes [Line Items]
Prior year tax loss carryforwards value		503
Income tax return 2006 to 2009 [Member] \| Spanish Tax Authority [Member] \| Cemex España, S.A. [member]
Disclosure of Income Taxes [Line Items]
Current tax expense income and adjustments for current tax of prior periods		$ 503

Investments In Associates And Joint Ventures, Other Investments And Non-Current Accounts Receivable - Summary of Share of Profit of Equity Accounted Investees by Reportable Segment (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of associates [line items]
Share of profit of equity accounted investees	$ 98	$ 30	$ 54
Associates and Joint Ventures [Member]
Disclosure of associates [line items]
Share of profit of equity accounted investees	98	30	54
Mexico [member] \| Associates and Joint Ventures [Member]
Disclosure of associates [line items]
Share of profit of equity accounted investees	65	39	28
United States [member] \| Associates and Joint Ventures [Member]
Disclosure of associates [line items]
Share of profit of equity accounted investees	21	17	18
EMEAA [member] \| Associates and Joint Ventures [Member]
Disclosure of associates [line items]
Share of profit of equity accounted investees	10	8	8
Corporate and other [member] \| Associates and Joint Ventures [Member]
Disclosure of associates [line items]
Share of profit of equity accounted investees	$ 2	$ (34)	$ 0

Goodwill and Intangible Assets, Net - Summary Of Operating Segments Presenting Impairment Charges Or Relative Impairment Risk (Detail) - Operating segments [member] - United States [member] $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)
Disclosure Of Operating Segments Presenting Impairment Charges Or Relative Impairment Risk [Line Items]
Impairment losses recognized	$ 0
Discount rate +1%	357
Long-term growth rate –1%	$ 64

Trade Accounts Receivable

12 Months Ended

Dec. 31, 2023

Trade Accounts Receivable

10)	TRADE ACCOUNTS RECEIVABLE

As of December 31, 2023 and 2022, consolidated trade accounts receivable consisted of:


		2023			2022
Trade accounts receivable	$		1,841			1,735
Allowances for expected credit losses			(90	)		(91	)

	$		1,751			1,644

As of December 31, 2023 and 2022, trade accounts receivable include receivables of $848 and $828, respectively, sold in several countries under outstanding trade accounts receivable securitization programs and/or factoring programs with recourse, in which, generally Cemex effectively surrenders control associated with the trade accounts receivable sold and there is no guarantee or obligation to reacquire the assets; nonetheless, in such programs, Cemex retains certain residual interest in the programs and/or maintains continuing involvement with the accounts receivable. 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, 2023 and 2022 of $678 in both years, 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 2023, $24 in 2022 and $11 in 2021. Cemex’s securitization programs are usually negotiated for periods of one to two years and are usually renewed at their maturity.

As of December 31, 2023, 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	$		457		31		6.8	%
United States			536		8		1.5	%
EMEAA			745		41		5.5	%
SCA&C			96		10		10.4	%
Others			7		–		–

	$		1,841		90

Changes in the allowance for ECL in 2023, 2022 and 2021, were as follows:


		2023			2022			2021
Allowances for expected credit losses at beginning of period	$		91			101			121
Charged to selling expenses			11			9			1
Deductions			(15	)		(21	)		(16	)
Reclassification to assets held for sale			–			–			(2	)
Foreign currency translation effects			3			2			(3	)

Allowances for expected credit losses at end of period	$		90			91			101

Pensions and Post-Employment Benefits - Summary of Actuarial (Gains) Losses (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Gain (loss) on remeasurement, net defined benefit liability (asset) [abstract]
Actuarial (gains) losses due to experience	$ 13	$ 96	$ (87)
Actuarial (gains) losses due to demographic assumptions	(5)	(2)	20
Actuarial (gains) losses due financial assumptions	37	(270)	(196)
Total	$ 45	$ (176)	$ (263)

Property, Machinery and Equipment, Net and Assets For The Right-Of-Use, Net - Consolidated Property, Machinery and Equipment, Net (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Detailed Information About In Property Plant Equipment Right Of Use Assets [Abstract]
Property, machinery and equipment, net	$ 11,272	$ 10,156	$ 10,202
Assets for the right-of-use, net	1,194	1,128
Property, plant and equipment including right-of-use assets	$ 12,466	$ 11,284

Income Taxes - Summary of Temporary Differences in Deferred Income Tax Assets and Liabilities (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net deferred tax asset (liability)	$ (80)	$ 17
Deferred tax assets:
Tax loss carryforwards and other tax credits	445	561
Accounts payable and accrued expenses	883	734
Intangible assets, net	192	140
Others	11	20
Total deferred tax assets, gross	1,531	1,455
Presentation of net position by same legal entity	(1,168)	(1,044)
Total deferred tax assets, net in the statement of financial position	363	411
Deferred tax liabilities:
Property, machinery and equipment and right-of-use asset, net	(1,470)	(1,406)
Investments and other assets	(141)	(32)
Total deferred tax liabilities, gross	(1,611)	(1,438)
Presentation of net position by same legal entity	1,168	1,044
Total deferred tax liabilities, net in the statement of financial position	(443)	(394)
Net deferred tax assets (liabilities)	(80)	17
Country of domicile [member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net deferred tax asset (liability)	67	(17)
Deferred tax assets:
Total deferred tax assets, net in the statement of financial position	185	168
Deferred tax liabilities:
Total deferred tax liabilities, net in the statement of financial position	(118)	(185)
Net deferred tax assets (liabilities)	67	(17)
Foreign countries [member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net deferred tax asset (liability)	(147)	34
Deferred tax assets:
Total deferred tax assets, net in the statement of financial position	178	243
Deferred tax liabilities:
Total deferred tax liabilities, net in the statement of financial position	(325)	(209)
Net deferred tax assets (liabilities)	$ (147)	$ 34

Income Taxes - Summary of the Balances of the Deferred tax Assets and Liabilities in Statement of Financial Position (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Disclosure of Deferred Tax Assets And Liabilities [line items]
Asset	$ 363	$ 411
Liability	(443)	(394)
Net	(80)	17
Country of domicile [member]
Disclosure of Deferred Tax Assets And Liabilities [line items]
Asset	185	168
Liability	(118)	(185)
Net	67	(17)
Foreign countries [member]
Disclosure of Deferred Tax Assets And Liabilities [line items]
Asset	178	243
Liability	(325)	(209)
Net	$ (147)	$ 34

Pensions and Post-Employment Benefits - Schedule Actuarial Results Related to Pension and Other Post Retirement Benefits (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Recorded in operating costs and expenses
Service cost	$ 11	$ 12	$ 12
Past service cost	0	1	0
Settlements, curtailments and other changes	(11)	0	(2)
Total defined benefit expense	0	13	10
Recorded in other financial expenses
Net interest cost	44	29	31
Recorded in other comprehensive income
Actuarial losses (gains) for the period	45	(176)	(263)
Total (loss) / gain recognized during the period	89	(134)	(222)
Pension defined benefit plans [member]
Recorded in operating costs and expenses
Service cost	7	8	9
Past service cost	0	1	0
Settlements, curtailments and other changes	(10)	0	(1)
Total defined benefit expense	(3)	9	8
Recorded in other financial expenses
Net interest cost	36	23	26
Recorded in other comprehensive income
Actuarial losses (gains) for the period	46	(166)	(257)
Total (loss) / gain recognized during the period	79	(134)	(223)
Other Benefits Plans [Member]
Recorded in operating costs and expenses
Service cost	4	4	3
Past service cost	0	0	0
Settlements, curtailments and other changes	(1)	0	(1)
Total defined benefit expense	3	4	2
Recorded in other financial expenses
Net interest cost	8	6	5
Recorded in other comprehensive income
Actuarial losses (gains) for the period	(1)	(10)	(6)
Total (loss) / gain recognized during the period	$ 10	$ 0	$ 1

Financial Instruments

12 Months Ended

Dec. 31, 2023

Financial Instruments

17)	FINANCIAL INSTRUMENTS

17.1)

CURRENT AND

NON-CURRENT

DEBT

As of December 31, 2023 and 2022, Cemex’s consolidated debt summarized by interest rates and currencies, was as follows:


		2023							2022

		Current		Non-current		Total 1, 2			Current		Non-current		Total 1, 2

Floating rate debt	$		13		1,968		1,981	$		–		1,750		1,750
Fixed rate debt			12		4,235		4,247			51		5,170		5,221

	$		25		6,203		6,228	$		51		6,920		6,971

Effective rate 3
Floating rate			6.4%		7.1%					3.2%		4.6%
Fixed rate			4.4%		5.0%					5.1%		5.3%


		2023									2022

Currency		Current		Non-current		Total		Effective rate 3			Current		Non-current		Total		Effective rate 3

Dollars	$		1		4,348		4,349		5.5%	$		5		5,511		5,516		5.7%
Euros			9		990		999		4.2%			2		962		964		3.3%
Pesos			–		704		704		12.0%			–		267		267		12.2%
Philippine Pesos			11		112		123		7.1%			8		139		147		5.4%
Other currencies			4		49		53		4.5%			36		41		77		4.3%

	$		25		6,203		6,228			$		51		6,920		6,971

1	As of December 31, 2023 and 2022, from the total debt of $6,228 and $6,971, respectively, 94% was held in the Parent Company and 6% in subsidiaries of the Parent Company, in both periods.

As of December 31, 2023 and 2022, cumulative discounts, fees and other direct costs incurred in Cemex’s outstanding debt borrowings and the issuance of notes payable (jointly “Issuance Costs”) for $47 and $45, respectively, are presented reducing debt balances and are amortized to financial expense over the maturity of the related debt instruments under the effective interest rate method.

3	In 2023 and 2022, represents the weighted-average effective interest rate of the related debt agreements determined at the end of each period.

As of December 31, 2023 and 2022, Cemex’s consolidated debt summarized by type of instrument, was as follows:


2023		Current		Non-current		2022		Current		Non-current

Bank loans						Bank loans
Loans in foreign countries, 2024 to 2025		$	10		202	Loans in foreign countries, 2023 to 2025	$		43		184
Syndicated loans, 2025 to 2028			–		2,476	Syndicated loans, 2024 to 2026			–		2,578

			10		2,678				43		2,762

Notes payable						Notes payable
Medium-term notes, 2026 to 2031			–		3,508	Medium-term notes, 2024 to 2031			–		4,140
Other notes payable, 2024 to 2027			5		27	Other notes payable, 2023 to 2027			6		20

			5		3,535				6		4,160

Total bank loans and notes payable			15		6,213	Total bank loans and notes payable			49		6,922
Current maturities			10		(10)	Current maturities			2		(2)

	$		25		6,203		$		51		6,920

Changes in consolidated debt for the years ended December 31, 2023, 2022 and 2021 were as follows:


		2023		2022		2021

Debt at beginning of year	$		6,971		7,379		9,339
Proceeds from new debt instruments			2,938		2,006		3,960
Debt repayments			(3,840)		(2,420)		(5,897)
Foreign currency translation and accretion effects			159		6		(23)

Debt at end of year	$		6,228		6,971		7,379

As a result of debt transactions incurred during the reported periods to issue, refinance, replace and/or repurchase existing debt instruments, as applicable, Cemex paid transactional costs, including premiums and/or redemption costs (the “Transactional Costs”) for aggregate amounts of $72 in 2023, $51 in 2022 and $142 in 2021. Of these Transactional Costs, $16 in 2023, $4 in 2022 and $37 in 2021, corresponding to new debt instruments or the refinancing of existing debt, adjusted the carrying amount of the related debt instruments and are amortized over the remaining term of each instrument, while $56 in 2023, $47 in 2022 and $99 in 2021 of such Transactional Costs, associated with the extinguished portion of the related debt, were recognized each period in the caption “Financial income and other items, net.” In addition, Transactional Costs pending for amortization related to extinguished debt instruments of $12 in 2023, $6 in 2022 and $27 in 2021 were also recognized within “Financial income and other items, net.”

As of December 31, 2023 and 2022,

non-current

notes payable for $3,535 and $4,160, respectively, were detailed as follows:


Description	Date of issuance	Issuer 1	Currency	Principal amount	Rate	Maturity date	Redeemed amount 2 $	Outstanding amount 2 $		2023	2022

2023 CEBURES variable rate 3	05/Oct/23	Cemex, S.A.B. de C.V.	Peso	1,000	TIIE+.45%	01/Oct/26	–	59	$	59	–
2023 CEBURES fixed rate 3	05/Oct/23	Cemex, S.A.B. de C.V.	Peso	5,000	11.48%	26/Sep/30	–	295		292	–
July 2031 Notes 4	12/Jan/21	Cemex, S.A.B. de C.V.	Dollar	1,750	3.875%	11/Jul/31	(642)	1,108		1,102	1,102
September 2030 Notes 4	17/Sep/20	Cemex, S.A.B. de C.V.	Dollar	1,000	5.2%	17/Sep/30	(283)	717		714	714
November 2029 Notes 4	19/Nov/19	Cemex, S.A.B. de C.V.	Dollar	1,000	5.45%	19/Nov/29	(247)	753		749	749
June 2027 Notes 5	05/Jun/20	Cemex, S.A.B. de C.V.	Dollar	1,000	7.375%	05/Jun/27	(1,000)	–		–	996
March 2026 Notes	19/Mar/19	Cemex, S.A.B. de C.V.	Euro	400	3.125%	19/Mar/26	–	442		441	427
July 2025 Notes	01/Apr/03	Cemex Materials LLC	Dollar	150	7.70%	21/Jul/25	–	150		151	152
Other notes payable										27	20

									$	3,535	4,160

1	As of December 31, 2023, these issuances are fully and unconditionally guaranteed by Cemex Concretos, S.A. de C.V., Cemex Operaciones México, S.A. de C.V., Cemex Innovation Holding Ltd. and Cemex Corp.

2	Presented net of all notes repurchased by Cemex. As of December 31, 2023, all repurchased notes have been canceled.

On October 5, 2023, Cemex issued sustainability-linked long-term notes (

certificados bursátiles de largo plazo

) in the Mexican market (the “2023 CEBURES”) for an aggregate principal amount of Ps6,000. The 2023 CEBURES consist of two tranches: the first, for an amount of Ps1,000 with a

3-year

tenor at a floating annual interest rate of TIIE 28 plus 0.45%, and the second, for Ps5,000 with a

7-year

tenor at a fixed annual interest rate of 11.48%. In connection with these issuances, Cemex negotiated interest rate and currency derivative instruments to synthetically change the financial risks profile of these issuances from the Peso to the Dollar (note 17.4).

During 2022, pursuant to tender offers and other market transactions, Cemex partially repurchased several series of its notes for an aggregate notional amount of $1,172. The difference between the amount paid for such notes and the notional amount redeemed, net of transactional costs, generated a repurchase gain of $104, recognized in the line item “Financial income and other items, net.”

5	On June 5, 2023, Cemex fully redeemed the June 2027 Notes. The difference between the amount paid for such notes and the notional amount redeemed, net of transactional cost, generated a repurchase loss of $38, recognized in the line item “Financial income and other items, net.”

The maturities of consolidated long-term debt as of December 31, 2023, were as follows:


		Bank loans		Notes payable		Total

2025	$		608		167		775
2026			324		506		830
2027			577		4		581
2028			1,131		–		1,131
2029 and thereafter			28		2,858		2,886

	$		2,668		3,535		6,203

As of December 31, 2023, Cemex had the following lines of credit, of which, the only committed portion refers to the revolving credit facility under the 2023 Credit Agreement, at annual interest rates ranging between 5.36% and 6.56%, depending on the negotiated currency:


		Lines of credit		Available

Other lines of credit in foreign subsidiaries 1	$		401		274
Other lines of credit from banks 1			774		774
Revolving credit facility 2023 Credit Agreement			2,000		1,400

	$		3,175		2,448

1	Uncommitted amounts subject to the banks’ availability.

Sustainability-linked and green financing

As of December 31, 2023 and 2022, Cemex’s consolidated debt of $6,228 and $6,971, respectively, included balances outstanding denominated in Dollars, Euros and Pesos under either its 2021 Sustainability-linked Financing Framework (the “2021 SLFF”) or its 2023 Sustainability-linked Financing Framework (the “2023 SLFF”, and together with the 2021 SLFF, the “SLFFs”) of $4,227 in 2023 and $4,028 in 2022, representing the Company’s debt that is linked and aligned to Cemex’s strategy of CO

emissions reduction and its ultimate vision of a carbon-neutral economy (note 24.4).

As of December 31, 2023, the balance of debt under the SLFFs includes $3,876 of debt arising from bank loans, including the 2023 Credit Agreement described below. Under the 2023 Credit Agreement, the annual performance in respect to the metrics referenced in the 2023 SLFF may result in a total adjustment of the interest rate margin of plus or minus 5 bps

, in line with other sustainability-linked facilities from investment-grade rated borrowers.

The remainder of the debt balance under the SLFFs relates to the 2023 CEBURES. Of these, $59 or the variable rate leg is linked exclusively to one metric of the 2023 SLFF and may result in an increase of 20 bps in the nominal value at redemption. The remaining $292, or the fixed rate leg is also linked to only one metric of the 2023 SLFF and may result in a per annum increase of 25 bps to the interest rate applicable to the last four semi-annual coupon payments.

Additionally, Cemex’s securitization programs (notes 10 and 17.2) are linked to the 2021 SLFFs, utilizing one or more metrics and may result in an annual fee payment equivalent to up to 5 bps of the total facilities amount.

2023 Credit Agreement and 2021 Credit Agreement

On October 30, 2023, Cemex refinanced its 2021 Credit Agreement (as described below), extending the maturity to 2028. The refinanced 2021 Credit Agreement (the “2023 Credit Agreement”) comprises a $1,000,

5-year

amortizing term loan and a $2,000,

5-year

committed revolving credit facility (“RCF”). The 2023 Credit Agreement represents a reduction of $500 in the term loan and an increase of $250 in the revolver of the 2021 Credit Agreement. The 2023 Credit Agreement, denominated exclusively in Dollars, maintains its previous interest rate margin and financial covenants, consistent with an investment-grade capital structure, which provide for a maximum ratio of Consolidated Net Debt (as defined below) to Consolidated EBITDA (as defined below) (“Consolidated Leverage Ratio”) of 3.75 times throughout the life of the loan and a minimum ratio of Consolidated EBITDA to interest expense (“Consolidated Coverage Ratio”) of 2.75 times. As of December 31, 2023, the debt outstanding under the 2023 Credit Agreement amounted to $1,600, which includes amounts owed under the RCF of $600.

All tranches under the 2023 Credit Agreement include a margin over SOFR

from 100 bps

to 175 bps, depending on the Consolidated Leverage Ratio ranging from less than or equal to 2.25 times in the lower end to greater than 3.25 times in the higher end.

On November 8, 2021, Cemex, S.A.B. de C.V. closed a Dollar-denominated $3,250 syndicated sustainability-linked credit agreement (the “2021 Credit Agreement”), which proceeds were mainly used to fully repay its previous syndicated facilities agreement entered in 2017. The 2021 Credit Agreement, which was the first debt instrument issued by Cemex under the 2021 SLFF, resulted in a stronger liquidity position for Cemex from a risk and credit rating perspective.

The balance of debt under the 2023 Credit Agreement, in which debtor is Cemex, S.A.B. de C.V., is guaranteed by Cemex Concretos, S.A. de C.V., Cemex Operaciones México, S.A. de C.V., Cemex Innovation Holding Ltd. and Cemex Corp., same guarantor structure applicable in all senior notes of the Parent Company and the previous 2021 Credit Agreement.

The 2023 Credit Agreement contains ongoing representations, warranties, affirmative and negative covenants, including financial covenants. As of December 31, 2023 and 2022, Cemex was in compliance with all covenants contained in the 2023 Credit Agreement and the 2021 Credit Agreement, as applicable. Cemex cannot assure that in the future it will be able to comply with all such covenants, including any financial covenants, which

non-compliance,

if not remedied, could result in an event of default, which could materially and adversely affect Cemex’s business and financial condition.

The Secured Overnight Financing Rate (“SOFR”) is a measure of the cost of borrowing cash overnight collateralized by Treasury securities. As of December 31, 2023, SOFR rate was 5.38%. The contraction “bps” means basis points. One hundred basis points equal 1%. See note 17.5 for recent developments on the interest rate benchmark reform.

2	The Tasa de Inter é s Interbancaria de Equilibrio (“TIIE”) is the variable rate used for debt denominated in Pesos . As of December 31, 2023 and 2022, the 28-day TIIE rate was 11.50% and 10.77%, respectively.

Financial Covenants

Under the 2023 Credit Agreement and the 2021 Credit Agreement, at the end of each quarter for each period of four consecutive quarters, Cemex must comply with a maximum Consolidated Leverage Ratio of 3.75 times and a minimum Consolidated Coverage Ratio of 2.75 times throughout the life of the corresponding credit agreement. These financial ratios are calculated using the consolidated amounts under IFRS.

Consolidated Leverage Ratio

•

Under the 2023 Credit Agreement and the 2021 Credit Agreement, the ratio is calculated by dividing “Consolidated Net Debt” by “Consolidated EBITDA” for the last twelve months as of the calculation date. Consolidated Net Debt equals debt, as reported in the statement of financial position, net of cash and cash equivalents, excluding any existing or future obligations under any securitization program, and any subordinated debt of Cemex, adjusted for net

mark-to-market

of all derivative instruments, as applicable, among other adjustments including in relation for business acquisitions or disposals.

Consolidated EBITDA:

Under the 2023 Credit Agreement and the 2021 Credit Agreement, represents Operating EBITDA for the last twelve months as of the calculation date, as adjusted for any discontinued EBITDA, and solely for the purpose of calculating the Consolidated Leverage Ratio on a pro forma basis for any material disposition and/or material acquisition.

Consolidated Coverage Ratio

•

Under the 2023 Credit Agreement and the 2021 Credit Agreement, the ratio is calculated by dividing Consolidated EBITDA by the financial expense for the last twelve months as of the calculation date.

As of December 31, 2023, 2022 and 2021, under the 2023 Credit Agreement and the 2021 Credit Agreement, as applicable, the main consolidated financial ratios were as follows:

Consolidated financial ratios

Refers to the compliance limits and calculations that were
effective on each date

2023

2022

2021

Leverage ratio

Limit

<=3.75

Calculation

2.06

2.84

2.73

Coverage ratio

Limit

>=2.75

Calculation

7.91

6.27

5.99

Cemex’s ability to comply with these ratios may be affected by economic conditions, volatility in foreign exchange rates, as well as by overall conditions in the financial and capital markets or other factors.

Cemex will classify all of its

non-current

debt as current debt if: 1) as of any measurement date Cemex fails to comply with any covenants that would cause a default, including the aforementioned financial ratios; or 2) the cross default clause that is part of the 2023 Credit Agreement is triggered by the provisions contained therein; and/or 3) as of any date prior to a subsequent measurement date Cemex expects not to be in compliance with such financial ratios in the absence of: a) amendments and/or waivers covering the next succeeding 12 months; b) high probability that the violation will be cured during any agreed upon remediation period and be sustained for the next succeeding 12 months; and/or c) an agreement to refinance the relevant debt on a long-term basis. As a result of noncompliance with the agreed upon financial ratios or, in such event, the absence of a waiver of compliance or a negotiation thereof, after certain procedures followed upon Cemex’s lenders’ request, they may call for the acceleration of payments due under the 2023 Credit Agreement. That scenario would have a material adverse effect on Cemex’s operating results, liquidity or financial position.

17.2)

OTHER FINANCIAL OBLIGATIONS

As of December 31, 2023 and 2022, other financial obligations in the consolidated statement of financial position were detailed as follows:


					2023							2022

		Current		Non-current		Total			Current		Non-current		Total

I. Leases	$		272		986		1,258	$		258		918		1,176
II. Liabilities secured with accounts receivable			678		–		678			678		–		678

	$		950		986		1,936	$		936		918		1,854

I.	Leases (notes 8.1, 15.2, 24.1 and 28.4)

Cemex has several operating and administrative assets under lease contracts (note 15.2). As mentioned in note 28.4, Cemex applies the recognition exemption for short-term leases and leases of

low-value

assets. Changes in the balance of lease financial liabilities during 2023, 2022 and 2021 were as follows:


		2023			2022			2021

Lease financial liability at beginning of year	$		1,176			1,176			1,260
Additions from new leases			341			296			227
Reductions from payments			(256	)		(276	)		(313)
Cancellations and liability remeasurements			(24	)		7			27
Foreign currency translation and accretion effects			21			(27	)		(25)

Lease financial liability at end of year	$		1,258			1,176			1,176

As of December 31, 2023, the maturities of

non-current

lease financial liabilities are as follows:


		Total

2025	$		181
2026			144
2027			108
2028			77
2029 and thereafter			476

	$		986

Total cash outflows for leases in 2023, 2022 and 2021, including the interest expense portion as disclosed at note 8.1, were $331, $342 and $381, respectively. Future payments associated with these contracts are presented in note 24.1.

II.	Liabilities secured with accounts receivable

As mentioned in note 10, as of December 31, 2023 and 2022, the funded amounts of sale of trade

accounts

receivable under securitization programs and/or factoring programs with recourse of $678 in both years, were recognized within the line item “Other financial obligations” in the statement of financial position. For the years ended December 31, 2023, 2022 and 2021, the net cash flows generated by (used in) these securitization programs were $(18), $79 and $25, respectively.

The balances of the Company’s other financial obligations associated with the programs for the sale of accounts receivable mentioned above are part of Cemex’s total obligations under the 2021 SLFF, which are linked and aligned to Cemex’s strategy of CO

emissions reduction and its ultimate vision of a carbon-neutral economy (note 24.4).

17.3)

FAIR VALUE OF FINANCIAL INSTRUMENTS

Under IFRS, fair value represents an “Exit Value” which is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, considering the counterparty’s credit risk in the valuation. Exit Value is premised on the existence of a market and market participants for the specific asset or liability. When there are no market and/or market participants, IFRS establishes a fair value hierarchy that gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements), inputs other than quoted prices in active markets that are observable for the asset or liability, either directly or indirectly, used mainly to determine the fair value of securities, investments or loans that are not actively traded (Level 2 measurements) and the lowest priority to measurements involving significant unobservable inputs (Level 3 measurements).

Financial assets and liabilities

The book values of cash, trade accounts receivable, other accounts receivable, trade payables, other accounts payable and accrued expenses, as well as short-term debt, approximate their corresponding estimated fair values due to the revolving nature of these financial assets and liabilities in the short-term.

The estimated fair value of Cemex’s

non-current

debt is level 1 and level 2 and is either based on estimated market prices for such or similar instruments, considering interest rates currently available for Cemex to negotiate debt with the same maturities, or determined by discounting future cash flows using market-based interest rates currently available to Cemex.

The fair values determined by Cemex for its derivative financial instruments are level 2. There is no direct measure for the risk of Cemex or its counterparties in connection with such instruments. Therefore, the risk factors applied for Cemex’s assets and liabilities originated by the valuation of such derivatives were extrapolated from publicly available risk discounts for other public debt instruments of Cemex or its counterparties.

The estimated fair value of derivative instruments fluctuates over time and is determined by measuring the effect of future relevant economic variables according to the yield curves shown in the market as of the reporting date. These values should be analyzed in relation to the fair values of the underlying transactions and as part of Cemex’s overall exposure to fluctuations in interest rates and foreign exchange rates. The notional amounts of derivative instruments do not represent amounts of cash exchanged by the parties, and consequently, there is no direct measure of Cemex’s exposure to the use of these derivatives. The amounts exchanged are determined based on the notional amounts and other terms included in the derivative instruments.

As of December 31, 2023 and 2022, the carrying amounts of financial assets and liabilities and their respective fair values were as follows:


		2023					2022
		Carrying amount		Fair value			Carrying amount		Fair value
Financial assets
Derivative financial instruments (notes 14.2 and 17.4)	$		64		64	$		57		57
Other investments and non-current accounts receivable (note 14.2)			276		266			236		229

	$		340		330	$		293		286

Financial liabilities
Long-term debt (note 17.1)	$		6,203		6,030	$		6,920		6,517
Other financial obligations (note 17.2)			986		919			918		788
Derivative financial instruments (notes 17.4 and 18.2)			15		15			2		2

	$		7,204		6,964	$		7,840		7,307

As of December 31, 2023 and 2022, assets and liabilities carried at fair value in the consolidated statements of financial position are included in the following fair value hierarchy categories (note 28.4):


2023		Level 1		Level 2		Level 3		Total
Assets measured at fair value
Derivative financial instruments (notes 14.2 and 17.4)	$		–		64		–		64
Investments in strategic equity securities (note 14.2)			3		–		–		3
Other investments at fair value through earnings (note 14.2)			–		1		–		1

	$		3		65		–		68

Liabilities measured at fair value
Derivative financial instruments (notes 17.4 and 18.2)	$		–		15		–		15


2022		Level 1		Level 2		Level 3		Total
Assets measured at fair value
Derivative financial instruments (notes 14.2 and 17.4)	$		–		57		–		57
Investments in strategic equity securities (note 14.2)			5		–		–		5
Other investments at fair value through earnings (note 14.2)			–		3		–		3

	$		5		60		–		65

Liabilities measured at fair value
Derivative financial instruments (notes 17.4 and 18.2)	$		–		2		–		2

17.4)

DERIVATIVE FINANCIAL INSTRUMENTS

During the reported periods, in compliance with the guidelines established by its Risk Management Committee, the restrictions set forth by its debt agreements and its hedging strategy (note 17.5), Cemex held derivative instruments with the objectives explained in the following paragraphs.

As of December 31, 2023 and 2022, the notional amounts and fair values of Cemex’s derivative instruments were as follows:


		2023					2022
		Notional amount		Fair value			Notional amount		Fair value
I. Net investment hedges	$		976		(94	)		837		(48	)
II. Cross currency swaps			335		23			–		–
III. Interest rate swaps			750		30			1,018		54
IV. Fuel price hedging			232		5			136		8
V. Foreign exchange options			300		10			500		18

	$		2,593		(26	)		2,491		32

The caption “Financial income and other items, net” in the statements of income includes certain gains and losses related to the recognition of changes in fair values of the derivative financial instruments during the applicable period, which represented net losses of $19 in 2023, $5 in 2022 and $6 in 2021. During the reported periods, Cemex did not have derivatives designated as fair value hedges.

I.	Net investment hedges

As of December 31, 2023 and 2022, there are Dollar/Peso foreign exchange forward contracts with target tenor ranging from 1 to 15 months for notional amounts of $518 and $738, respectively. Cemex has designated this program as a hedge of Cemex’s net investment in Pesos, pursuant to which changes in the fair market value of these instruments are recognized as part of other comprehensive income in equity. For the years 2023, 2022 and 2021, these contracts generated losses of $172, $96 and $4, respectively, which partially offset currency translation gains in each year recognized in equity generated from Cemex’s net assets denominated in Pesos. The losses generated from these derivatives relate to the appreciation of the Peso, mainly in 2023 and 2022.

In addition, as of December 31, 2023 and 2022, as part of Cemex’s Peso net investment hedge strategy, there are additional Dollar/Peso capped forwards, structured with option contracts, for a notional amount of $458 and $99, respectively. These capped forwards contain limits on the upside that the instrument may generate. Changes in the fair market value of such capped forward contracts are also recognized as part of other comprehensive income in equity. For the years 2023 and 2022, these contracts generated losses of $54 and $2, respectively, which partially offset currency translation gains recognized in equity generated from Cemex’s net assets denominated in Pesos due to the appreciation of the Peso in 2023 and 2022.

Moreover, during the year 2022, Cemex unwound Dollar/Euro cross-currency swap contracts for a notional amount of $750, which resulted in a settlement gain of $80 in equity. Cemex designated the foreign exchange forward component of these instruments as a hedge of Cemex’s net investment in Euros and changes in fair market were recognized as part of other comprehensive income in equity, while changes in fair value of the interest rate swap component until settlement were recognized within the line item of “Financial income and other items, net,” representing gains of $8 in 2022 and losses of $1 in 2021. For the years 2022 and 2021, the foreign exchange forward component generated gains of $70 and $10 recognized in equity, which partially offset currency translation losses recognized in equity generated from Cemex’s net assets denominated in Euros due to the depreciation of the Euro against the Dollar in 2022 and 2021, related to the exchange of interest rates in the statement of income.

II.	Cross currency swaps

During October 2023, Cemex entered into cross-currency swap contracts for a notional amount of $335 in connection with the issuances of the 2023 CEBURES as described in note 17.1, aiming to change the rate and currency risk profile of such 2023 CEBURES from the Peso to the Dollar. Cemex designated these contracts as cash flow hedges of interest rate payments in relation to an equivalent amount of variable and fixed interest rate debt. Changes in fair value of these contracts for the interest rate swap leg are initially recognized as part of other comprehensive income in equity and are subsequently allocated through financial expense as interest expense on the related loans is accrued in the statement of income, while changes in fair value of the currency forward leg are recognized directly in the statement of income partially offsetting the related Peso denominated debt’s foreign exchange fluctuation. For the year 2023, changes in the fair value of these contracts generated gains of $23 recognized in other comprehensive income and gains of $5 recognized in the statement of income.

III.	Interest rate swap contracts

For accounting purposes under IFRS, Cemex designates interest rate swaps as cash flow hedges, to fix interest rate payments in relation to an equivalent amount of floating interest rate debt. As a result, changes in the fair value of these contracts are initially recognized as part of other comprehensive income in equity and are subsequently reclassified to financial expense as the interest expense of the related floating interest rate debt is accrued in the statement of income.

Derivative financial instruments – continued

As of December 31, 2023 and 2022, Cemex held interest rate swaps for a notional amount of $750, in both periods, with a fair market value representing assets of $30 in 2023 and $39 in 2022, negotiated in June 2018 to fix interest payments of existing bank loans bearing Dollar floating rates. During November 2021, Cemex unwound a portion of its then outstanding interest rate swaps, resulting in a settlement loss of $5, recognized within “Financial income and other items, net” in the statement of income, and extended the remaining contracts until November 2026. For the years 2023, 2022 and 2021, changes in the fair value of these contracts generated losses of $9 and gains of $69 and $23, respectively, recognized in other comprehensive income. Moreover, during the same periods, Cemex reclassified results from equity to the line item “Financial expenses” representing income of $22 in 2023 and expenses of $2 in 2022 and $22 in 2021.

In addition, as of December 31, 2022, Cemex held interest rate swaps for a notional of $268 negotiated to fix interest payments of existing bank loans referenced to Peso floating rates that matured in November 2023, which fair value represented an asset of $15 in 2022. During December 2021, Cemex partially unwound its interest rate swap receiving, $3 recognized within “Financial income and other items, net” in the statement of income. For the years 2023, 2022 and 2021 until their settlement, changes in the fair value of these contracts generated losses of $15 and gains of $3 and $15, respectively, recognized in other comprehensive income. Moreover, during the same periods, Cemex recycled results from equity to the “Financial expenses” line item representing gains of $18 in 2023, $7 in 2022 and expenses of $0.3 in 2021.

IV.	Fuel price hedging

As of December 31, 2023 and 2022, Cemex maintained swap and option contracts negotiated to hedge the price of certain fuels in several operations, primarily diesel and gas, for aggregate notional amounts of $110 and $136, respectively, with an estimated aggregate fair value representing assets of $1 in 2023 and of $8 in 2022. By means of these contracts, for its own consumption only, Cemex either fixed the price of these fuels, or entered into option contracts to limit the prices to be paid for these fuels, over certain volumes representing a portion of the estimated consumption of such fuels in several operations. These contracts have been designated as cash flow hedges of diesel or gas consumption, and as such, changes in fair value are recognized temporarily through other comprehensive income and are recycled to operating expenses as the related fuel volumes are consumed. For the years 2023, 2022 and 2021, changes in fair value of these contracts recognized in other comprehensive income represented losses of $6, losses of $25 and gains of $22, respectively. Moreover, during the same periods, Cemex recycled results from equity to the line items of “Cost of sales” and “Operating expenses,” as applicable, representing losses of $7 in 2023, gains of $88 in 2022 and $36 in 2021.

In addition, as of December 31, 2023, Cemex held Brent Oil call spreads with a notional of $122, intended economically to mitigate the exposure over a portion of the diesel cost implicit in Cemex’s distribution expense. Changes in the fair value of these contracts are recognized directly in the statement of income as part of “Financial income and other items, net” which resulted in losses of $1 in 2023.

V.	Foreign exchange options

As of December 31, 2023 and 2022, Cemex held Dollar/Peso call spread option contracts for a notional amount of $300 and $500, respectively. Such contracts mature between June 2025 and December 2025 and were negotiated to maintain the value in Dollars over an equivalent amount of revenue generated in Pesos. Changes in the fair value of these instruments generated losses of $18 in 2023, $13 in 2022 and $5 in 2021, recognized within “Financial income and other items, net” in the statement of income.

17.5)

RISK MANAGEMENT

Enterprise risks may arise from any of the following situations: i) the potential change in the value of assets owned or reasonably anticipated to be owned, ii) the potential change in value of liabilities incurred or reasonably anticipated to be incurred, iii) the potential change in value of services provided, purchase or reasonably anticipated to be provided or purchased in the ordinary course of business, iv) the potential change in the value of assets, services, inputs, products or commodities owned, produced, manufactured, processed, merchandised, leased or sold or reasonably anticipated to be owned, produced, manufactured, processed, merchandised, leased or sold in the ordinary course of business, or v) any potential change in the value arising from interest rate or foreign exchange rate exposures arising from current or anticipated assets or liabilities.

In the ordinary course of business, Cemex is exposed to commodities risk, including the exposure from inputs such as fuel, coal, petroleum coke, carbon slags, gypsum and other industrial materials which are commonly used by Cemex in the production process, and expose Cemex to variations in prices of the underlying commodities. To manage this and other risks, such as credit risk, interest rate risk, foreign exchange risk, equity risk and liquidity risk, considering the guidelines set forth by the Parent Company’s Board of Directors, which represent Cemex’s risk management framework and that are supervised by several Committees, Cemex’s management establishes specific policies that determine strategies oriented to obtain natural hedges to the extent possible, such as avoiding customer concentration on a determined market or aligning the currencies portfolio in which Cemex incurred its debt, with those in which Cemex generates its cash flows.

As of December 31, 2023 and 2022, these strategies are sometimes complemented with the use of derivative financial instruments as mentioned in note 17.4, such as the commodity forward contracts on fuels negotiated to fix the price of these underlying commodities.

The main risk categories are mentioned below:

Credit risk

Credit risk is the risk of financial loss faced by Cemex if a customer or counterparty to a financial instrument does not meet its contractual obligations and originates mainly from trade accounts receivable. As of December 31, 2023 and 2022, the maximum exposure to credit risk is represented by the balance of financial assets. Management has developed policies for the authorization of credit to customers. Exposure to credit risk is monitored constantly according to the payment behavior of debtors. Credit is assigned on a

customer-by-customer

basis and is subject to assessments which consider the customers’ payment capacity, as well as past behavior regarding due dates, balances past due and delinquent accounts. In cases deemed necessary, Cemex’s management requires guarantees from its customers and financial counterparties regarding financial assets.

The Company’s management has established a policy of low risk tolerance that analyzes the creditworthiness of each new client individually before offering the general conditions of payment terms and delivery. The review includes external ratings, when references are available, and in, some cases, bank references. Thresholds of purchase limits are established for each client, which represent the maximum purchase amounts that require different levels of approval. Customers who do not meet the levels of solvency requirements imposed by Cemex can only carry out transactions by paying cash in advance. As of December 31, 2023, considering Cemex’s best estimate of potential expected losses based on the ECL model developed by Cemex (note 10), the allowance for expected credit losses was $90.

Interest rate risk

Interest rate risk is the risk that a financial instrument’s fair value or future cash flows will fluctuate because of changes in market interest rates, which only affects Cemex’s results if the fixed-rate long-term debt is measured at fair value. Cemex’s fixed-rate long-term debt is carried at amortized cost and therefore is not subject to interest rate risk. Cemex’s exposure to the risk of changes in market interest rates relates primarily to its long-term debt obligations with floating interest rates, which, if such rates were to increase, may adversely affect its financing cost and the results for the period.

Additionally, there is an opportunity cost for continuing to pay a determined fixed interest rate when the market rates have decreased, and the entity may obtain improved interest rate conditions in a new loan or debt issuance. Cemex manages its interest rate risk by balancing its exposure to fixed and floating rates while attempting to reduce its interest costs. Cemex could renegotiate the conditions or repurchase the debt, particularly when the net present value (“NPV”) of the estimated future benefits from the interest rate reduction is expected to exceed the cost and commissions that would have to be paid in such renegotiation or repurchase of debt.

As of December 31, 2023 and 2022, 26% and 21%, respectively, of Cemex’s long-term debt was denominated in floating rates at a weighted-average interest rate of SOFR plus 95 basis points in 2023 and LIBOR plus 148 basis points in 2022. These figures reflect the effect of interest rate swaps held by Cemex during 2023 and 2022. As of December 31, 2023 and 2022, if interest rates at that date had been 0.5% higher, with all other variables held constant, Cemex’s net income for 2023 and 2022 would have reduced by $14 and $13, respectively, because of higher interest expense on variable rate denominated debt. This analysis does not include the effect of interest rate swaps held by Cemex during 2023 and 2022.

Management of interest rate benchmark reform

In connection with the global reform of major interest rate benchmarks, which included the replacement of interbank offered rates (IBORs) with alternative secured rates (referred to as the “IBOR reform”), during the first half of 2023 Cemex completed the migration of applicable financial instruments, derivatives and loans previously linked to Dollar LIBOR rates.

Cemex’s financial risk management committee monitored and managed the Company’s transition to alternative secured rates.

Foreign currency risk

Foreign currency risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in foreign exchange rates. Cemex’s exposure to the risk of changes in foreign exchange rates relates primarily to its operating activities. Due to its geographic diversification, Cemex’s revenues and costs are generated and settled in various countries and different currencies. For the year ended December 31, 2023, 29% of Cemex’s revenues, before eliminations resulting from consolidation, were generated in Mexico, 31% in the United States, 6% in the United Kingdom, 5% in France, 3% in Germany, 3% in Poland, 3% in Spain, 2% in the Philippines, 5% in Israel and 4% in the Rest of EMEAA region, 3% in Colombia, 1% in Panama, 2% in Dominican Republic, 2% in Caribbean TCL and 1% in the Rest of SCA&C.

Foreign exchange results incurred through monetary assets or liabilities in a currency different from its functional currency are recorded in the consolidated statements of income. Exchange fluctuations associated with foreign currency indebtedness directly related to the acquisition of foreign entities and exchange fluctuations in related parties’ long-term balances denominated in foreign currency that are not expected to be settled in the foreseeable future, are recognized in the statement of other comprehensive income. As of December 31, 2023, excluding from the sensitivity analysis the impact of translating the net assets denominated in currencies different from Cemex’s presentation currency, considering a hypothetic 10% strengthening of the Dollar against the Peso, with all other variables held constant, Cemex’s net income for 2023 would have decreased by $160, as a result of higher foreign exchange losses on Cemex’s Dollar-denominated net monetary liabilities held in consolidated entities with other functional currencies. Conversely, a hypothetical 10% weakening of the Dollar against the Peso would have the opposite effect.

As of December 31, 2023, 70% of Cemex’s financial debt was Dollar-denominated, 16% was Euro-denominated, 11% was Peso-denominated, 2% was Philippine Peso-denominated and 1% was in other currencies. Therefore, Cemex had a foreign currency exposure arising mainly from the Dollar-denominated debt versus the several currencies in which Cemex’s revenues are settled in most countries in which it operates. Cemex cannot guarantee that it will generate sufficient revenues in Dollars from its operations to service these obligations. As of December 31, 2023, Cemex had implemented a derivative financing hedging strategy using foreign exchange options for a notional amount of $300 to hedge the value in Dollar terms of revenues generated in Pesos to partially address this foreign currency risk (note 17.4). Complementarily, Cemex may negotiate other derivative financing hedging strategies in the future if either of its debt portfolio currency mix, interest rate mix, market conditions and/or expectations changes.

As of December 31, 2023 and 2022, Cemex’s consolidated net monetary assets (liabilities) by currency are as follows:


		2023
		Mexico			United States			EMEAA			SCA&C			Others 1			Total
Monetary assets	$		1,627			651			1,491			274			(241	)		3,802
Monetary liabilities			2,184			2,679			3,087			730			7,179			15,859

Net monetary assets (liabilities)	$		(557	)		(2,028	)		(1,596	)		(456	)		(7,420	)		(12,057)

Out of which:
Dollars	$		(157	)		(2,030	)		(5	)		(61	)		(4,780	)		(7,033)
Pesos			(400	)		–			–			–			(524	)		(924)
Euros			–			–			(660	)		–			(1,563	)		(2,223)
Pounds			–			–			(710	)		–			97			(613)
Other currencies			–			2			(221	)		(395	)		(650	)		(1,264)

	$		(557	)		(2,028	)		(1,596	)		(456	)		(7,420	)		(12,057)


		2022
		Mexico			United States			EMEAA			SCA&C			Others 1			Total
Monetary assets	$		960			650			1,315			204			–			3,129
Monetary liabilities			1,951			2,559			2,887			519			7,174			15,090

Net monetary assets (liabilities)	$		(991	)		(1,909	)		(1,572	)		(315	)		(7,174	)		(11,961)

Out of which:
Dollars	$		8			(1,909	)		12			(42	)		(5,633	)		(7,564)
Pesos			(999	)		–			–			–			(72	)		(1,071)
Euros			–			–			(632	)		–			(1,183	)		(1,815)
Pounds			–			–			(931	)		–			171			(760)
Other currencies			–			–			(21	)		(273	)		(457	)		(751)

	$		(991	)		(1,909	)		(1,572	)		(315	)		(7,174	)		(11,961)

1	Includes the Parent Company, Cemex’s financing subsidiaries, among other entities.

Considering that the Parent Company’s functional currency for all assets, liabilities and transactions associated with its financial and holding company activities is the Dollar (note 28.3), foreign currency risk is associated with the translation into Dollars of subsidiaries’ net assets denominated in different currencies. When the Dollar appreciates, the value of these net assets denominated in other currencies decreases in terms of Dollars, generating negative foreign currency translation and reducing stockholders’ equity. Conversely, when the Dollar depreciates, the value of such net assets denominated in other currencies would increase in terms of Dollars generating the opposite effect. Cemex has implemented a Dollar/Peso foreign exchange forward contracts program to hedge foreign currency translation in connection with its net assets denominated in Pesos (note 17.4).

Equity risk

Equity risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in the market price of Cemex, S.A.B. de C.V.’s and/or third party’s shares. Cemex has negotiated equity forward contracts on third-party shares. Under these equity derivative instruments, there is a direct relationship between the change in the fair value of the derivative and the change in price of the underlying share. All changes in the fair value of such derivative instruments are recognized in the statement of income as part of “Financial income and other items, net.” During the reported periods effects were not significant. As of December 31, 2023, Cemex does not have derivative financial instruments based on the price of the Parent Company’s shares or any third-party’s shares.

Liquidity risk

Liquidity risk is the risk that Cemex will not have sufficient funds available to meet its obligations. In addition to cash flows provided by its operating activities, to meet Cemex’s overall liquidity needs for operations, servicing debt and funding capital expenditures and acquisitions, Cemex relies on cost-cutting and operating improvements to optimize capacity utilization and maximize profitability, as well as borrowing under credit facilities, proceeds of debt and equity offerings, and proceeds from asset sales. Cemex is exposed to risks from changes in foreign currency exchange rates, prices and currency controls, interest rates, inflation, governmental spending, social instability and other political, economic and/or social developments in the countries in which it operates, any one of which may materially affect Cemex’s results and reduce cash from operations. The maturities of Cemex’s contractual obligations are included in note 24.1.

As of December 31, 2023, current liabilities, which included $975 of current debt and other financial obligations, exceed current assets by $1,781. It is noted that as part of its operating strategy implemented by management, the Company operates with a negative working capital balance. For the year ended December 31, 2023, Cemex generated net cash flows from operating activities of $2,159. The Company’s management considers that Cemex will generate sufficient cash flows from operations in the following twelve months to meet its current obligations. In addition, as of December 31, 2023, Cemex has a committed line of credit under the RCF for $2,000. As of December 31, 2023, the withdrawn amount is $600.

Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of reconciliation of controlling interest due to different currencies

As of December 31, 2023, the

line-by-line

reconciliation between Cemex’s controlling interest, as reported using the Dollar as presentation currency, and the Parent Company’s stockholders’ equity, using a convenience translation of the balances in Pesos translated using the exchange rate of 16.97 Pesos per Dollar as of December 31, 2023, is as follows:


		As of December 31, 2023

		Consolidated			Parent Company

Common stock and additional paid-in capital 1	$		7,699			6,086
Other equity reserves 1, 2			(363	)		1,576
Retained earnings 2			4,428			4,102

Total controlling interest	$		11,764			11,764

The difference relates to the method of accruing Dollars using the historical exchange rates to translate each common stock and additional

paid-in

capital transaction denominated in Pesos to Dollars. The cumulative effect of these changes in exchange rates is recognized against other equity reserves.

2	The difference relates to the method of accruing Dollars using the exchange rates of each month during the period for statement of income purposes. The cumulative effect of these changes in exchange rates is recognized against other equity reserves.

Summary of Breakdown of Common Stock and Additional Paid-in Capital

As of December 31, 2023 and 2022, the breakdown of consolidated common stock and additional

paid-in

capital was as follows:


		2023		2022

Common stock	$		318		318
Additional paid-in capital			7,381		7,492

	$		7,699		7,810

Summary of Common Stock

As of December 31, 2023 and 2022, the common stock of Cemex, S.A.B. de C.V. was presented as follows:


	2023				2022

Shares 1	Series A 2		Series B 2		Series A 2		Series B 2

Subscribed and paid shares		29,016,656,496		14,508,328,248		29,016,656,496		14,508,328,248
Unissued shares authorized for executives’ stock compensation programs		881,442,830		440,721,415		881,442,830		440,721,415
Repurchased shares 3		–		–		441,284,956		220,642,478

		29,898,099,326		14,949,049,663		30,339,384,282		15,169,692,141

1	As of December 31, 2023 and 2022, 13,068,000,000 shares correspond to the fixed portion, and 31,779,148,989 shares in 2023 and 32,441,076,423 shares in 2022 correspond to the variable portion.

2	Series “A” or Mexican shares must represent at least 64% of Cemex, S.A.B. de C.V.’s capital stock; Series “B” or free subscription shares must represent at most 36% of Cemex, S.A.B. de C.V.’s capital stock.

3	Shares repurchased under the share repurchase program authorized by the Parent Company’s shareholders (note 21.2).

Summary of other Equity Reserves and Subordinated Notes

As of December 31, 2023 and 2022, the caption of other equity reserves and subordinated notes was integrated as follows:


		2023			2022

Other equity reserves	$		(2,349	)		(2,549)
Subordinated notes			1,986			994

	$		(363	)		(1,555)

Summary of Other Equity Reserves

As of December 31, 2023 and 2022, other equity reserves are detailed as follows:


		2023			2022

Cumulative translation effect, tax effects from deferred income taxes recognized directly in equity (note 20.2) and derivative financial instruments designated as cash flow hedges	$		(672	)		(926)
Cumulative actuarial losses			(398	)		(353)
Cumulative coupon payments under perpetual debentures (note 21.4)			(1,070	)		(1,070)
Cumulative coupon payments under subordinated notes			(204	)		(84)
Cancellation of treasury shares by shareholders’ resolution (note 21.1)			–			(111)
Other effects			(5	)		(5)

	$		(2,349	)		(2,549)

Summary of Translation Effects of Foreign Subsidiaries Included in Statements of Comprehensive Income (Loss)

For the years ended December 31, 2023, 2022 and 2021, the translation effects of foreign subsidiaries included in the statements of comprehensive income were as follows:


		2023			2022			2021

Foreign currency translation result 1	$		356			(235	)		(476)
Foreign exchange fluctuations from debt 2			(28	)		(23	)		89
Foreign exchange fluctuations from intercompany balances 3			(73	)		(68	)		(13)

	$		255			(326	)		(400)

1	These effects refer to the result from the translation of the financial statements of foreign subsidiaries and include the changes in the fair value of foreign exchange forward contracts designated as a hedge of a net investment (note 17.4).

2	Generated by foreign exchange fluctuations over a notional amount of debt in Cemex, S.A.B. de C.V., associated with the acquisition of foreign subsidiaries and designated as a hedge of the net investment in foreign subsidiaries (note 28.3).

Refers to foreign exchange fluctuations arising from balances with related parties in foreign currencies that are of a long-term investment nature considering that their liquidation is not anticipated in the foreseeable future and foreign exchange fluctuations over a notional amount of debt of a subsidiary of Cemex España identified and designated as a hedge of the net investment in foreign subsidiaries.

Business Combinations, Divestitures and Discontinued Operations and Selected Financial Information by Reportable Segment and Line of Business - Summary of Condensed Combined Information of the Statement of Income of Discontinued Operations (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of Discontinued Operations [line items]
Revenues	$ 17,388	$ 15,577	$ 14,379
Earnings before income tax	1,449	770	954
Net result of discontinued operations	$ 0	324	(39)
Discontinued Operations [member]
Disclosure of Discontinued Operations [line items]
Revenues		256	354
Cost of sales and operating expenses		(225)	(304)
Other expenses, net		(8)	(42)
Financial expenses, net and others		0	5
Earnings before income tax		23	13
Income tax		(3)	(48)
Result of discontinued operations		20	(35)
Net disposal result		304	(4)
Net result of discontinued operations		$ 324	$ (39)

Goodwill and Intangible Assets, Net - Summary Of Operating Segments Presenting Impairment Charges Or Relative Impairment Risk (Parenthetical) (Detail)

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Disclosure Of Operating Segments Presenting Impairment Charges Or Relative Impairment Risk [Line Items]

Weighted average Operating EBITDA multiple

10.9

11.3

11.5

Disclosure Of Operating Segments Presenting Impairment Charges Or Relative Impairment Risk [Line Items]

Discount rate applied to cash flow projections

10.10%

9.10%

7.20%

Growth rate used to extrapolate cash flow projections

^[1]

2.00%

United States [member] | Operating segments [member]

Disclosure Of Operating Segments Presenting Impairment Charges Or Relative Impairment Risk [Line Items]

Discount rate applied to cash flow projections

1.00%

Growth rate used to extrapolate cash flow projections

1.00%

[1]	The long-term growth rates are generally based on projections issued by the International Monetary Fund (“IMF”).

Financial Items - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of reclassifications or changes in presentation [line items]
Interest expense on lease liabilities	$ 75	$ 67	$ 67
Financial income and other items net [Member]
Disclosure of reclassifications or changes in presentation [line items]
Amount of reclassifications or changes in presentation		$ 104	$ 82

Related Parties - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of Transactions Between Related Parties [Line Items]
Amount of compensation of CEMEX Board of Directors	$ 71	$ 44	$ 50
Information Technology Services [Member] \| Neoris [Member]
Disclosure of Transactions Between Related Parties [Line Items]
Related party transaction services received	$ 94
Proportion of ownership interests in joint venture	35.00%
Ready Mix Pumping Services [Member] \| CEB [Member]
Disclosure of Transactions Between Related Parties [Line Items]
Related party transaction services received	$ 55
Performance Bonuses [Member]
Disclosure of Transactions Between Related Parties [Line Items]
Amount of compensation of CEMEX Board of Directors	24	29	26
Executive Share-Based Compensation Programs [Member] \| ADR [Member]
Disclosure of Transactions Between Related Parties [Line Items]
Amount of compensation of CEMEX Board of Directors	$ 47	$ 15	$ 24

Operating Expenses

12 Months Ended

Dec. 31, 2023

Operating Expenses

6)	OPERATING EXPENSES

Administrative expenses represent the expenses associated with personnel, services and equipment, including depreciation and amortization, related to managerial activities and back office for the Company’s management. Sales expenses represent the expenses associated with personnel, services and equipment, including depreciation and amortization incurred in sales activities. Distribution and logistics expenses refer to expenses of storage at points of sales, including depreciation and amortization, as well as freight expenses of finished products between plants and points of sale and freight expenses between points of sales and the customers’ facilities.

Consolidated operating expenses by function during 2023, 2022 and 2021 are as follows:


		2023		2022		2021
Administrative expenses 1, 2	$		1,385		1,074		958
Selling expenses 2			411		363		322

Total administrative and selling expenses			1,796		1,437		1,280
Distribution and logistics expenses			1,951		1,824		1,637

Total operating expenses	$		3,747		3,261		2,917

1	All significant research and development activities are executed by several internal areas of Cemex as part of their daily activities. In 2023, 2022 and 2021, the total combined expenses of these departments recognized within administrative expenses were $55, $42 and $44, respectively.

2	In 2023, 2022 and 2021, administrative expenses include depreciation and amortization of $162, $140 and $137, respectively, and selling expenses include depreciation and amortization of $54 in 2023, $51 in 2022 and $49 in 2021.

Consolidated operating expenses during 2023, 2022 and 2021 by nature are as follows:


		2023		2022		2021
Transportation costs	$		1,793		1,676		1,502
Payroll			1,154		1,038		905
Depreciation and amortization			216		191		186
Professional legal, accounting and advisory services			236		145		144
Maintenance, repairs and supplies			99		84		76
Other operating expenses			249		127		104

	$		3,747		3,261		2,917

Trade Accounts Receivable (Tables)

12 Months Ended

Dec. 31, 2023

Summary of Trade Accounts Receivable

As of December 31, 2023 and 2022, consolidated trade accounts receivable consisted of:


		2023			2022
Trade accounts receivable	$		1,841			1,735
Allowances for expected credit losses			(90	)		(91	)

	$		1,751			1,644

Summary of Trade Accounts Receivable and Allowance for Expected Credit Loss

As of December 31, 2023, 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	$		457		31		6.8	%
United States			536		8		1.5	%
EMEAA			745		41		5.5	%
SCA&C			96		10		10.4	%
Others			7		–		–

	$		1,841		90

Summary of Allowance for Expected Credit Losses

Changes in the allowance for ECL in 2023, 2022 and 2021, were as follows:


		2023			2022			2021
Allowances for expected credit losses at beginning of period	$		91			101			121
Charged to selling expenses			11			9			1
Deductions			(15	)		(21	)		(16	)
Reclassification to assets held for sale			–			–			(2	)
Foreign currency translation effects			3			2			(3	)

Allowances for expected credit losses at end of period	$		90			91			101

Executive Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

Summary of Share-Based Compensation Programs

For the years 2023, 2022 and 2021, the changes in connection with the Share-Based Compensation Programs were as follows:


									ADSs equivalents delivered (thousands)
Plan	Target number of ADSs (thousands)		ADS price at award’s date 1		Fair value (%)		Fair value (millions)		2023		2022		2021		ADSs Forfeited (thousands)		ADSs Outstanding (thousands) 2
Performance Plans
2018		1,521.9	$	6.3		149%		14.3		–		–		2,368.4		61.4		–
2019		2,303.0	$	4.4		130%		13.2		–		3,062.8		–		57.7		–
2020		4,146.0	$	2.3		155%		14.8		8,448.2		–		–		–		–
2021		1,227.2	$	8.0		150%		14.7		–		–		–		–		1,840.8
2022		2,403.6	$	4.3		149%		15.4		–		–		–		–		3,571.7
2023		2,825.4	$	6.4		145%		26.1		–		–		–		–		4,094.1
Ordinary Plans
2017		2,704.4	$	8.9		100%		23.9		–		–		19.1		103.9		–
2018		5,304.2	$	6.5		100%		34.5		–		–		968.7		139.2		–
2019		8,048.2	$	4.7		100%		37.5		42.4		1,521.4		1,725.0		118.3		–
2020		11,162.2	$	2.5		100%		28.1		2,293.0		2,370.9		2,617.6		253.7		–
2021		5,716.6	$	7.2		100%		41.3		1,442.7		1,465.6		1,634.6		39.3		1,232.2
2022		9,483.0	$	4.9		100%		46.0		2,450.5		2,499.8		–		22.4		4,468.8
2023		6,531.9	$	5.9		100%		38.4		1,765.0		–		–		–		4,766.8

										16,441.8		10,920.5		9,333.4		795.9		19,974.4

1	Average ADS price of the awards at the date of grant.

2	Until the final payout of the Performance Plans is determined after the conclusion of the three-year period for award, the number of ADSs outstanding assumes a payout considering the same percentage determined by the option pricing model.

Financial Instruments - Summary of Disclosure Detail Of Financial Lease Liabilities (Detail) $ in Millions	Dec. 31, 2023 USD ($)
Disclosure detail of financial lease liabilities [line items]
Lease financial liabilities	$ 986
Later Than One Year and Not Later Than Two Years [Member]
Disclosure detail of financial lease liabilities [line items]
Lease financial liabilities	181
Later Than Two Years and Not Later Than Three Years [Member]
Disclosure detail of financial lease liabilities [line items]
Lease financial liabilities	144
Later Than Three Years and Not Later Than Four Years [Member]
Disclosure detail of financial lease liabilities [line items]
Lease financial liabilities	108
Later Than Four Years and Not Later Than Five Years [Member]
Disclosure detail of financial lease liabilities [line items]
Lease financial liabilities	77
More than 5 Years [member]
Disclosure detail of financial lease liabilities [line items]
Lease financial liabilities	$ 476

Business Combinations, Divestitures and Discontinued Operations and Selected Financial Information by Reportable Segment and Line of Business - Summary of Consolidating Statements of Operations by Geographic Operating Segments (Detail) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

$ 17,388

$ 15,577

$ 14,379

3,347

2,681

2,839

Operating earnings (loss) before other expenses, net

1,233

1,120

2,114

1,561

1,719

(265)

(467)

(82)

(531)

(505)

(576)

Reportable segments [member]

151

(161)

16,904

15,137

14,009

3,629

2,961

3,048

Operating earnings (loss) before other expenses, net

1,114

1,031

1,052

2,515

1,930

1,996

(188)

(410)

(650)

(175)

(111)

(107)

Other activities [member]

(5)

^[1]

484

440

370

^[1]

(282)

(280)

(209)

Operating earnings (loss) before other expenses, net

^[1]

119

^[1]

(401)

(369)

(277)

^[1]

(77)

(57)

568

^[1]

(356)

(394)

(469)

^[1]

(29)

135

(156)

Mexico [member] | Reportable segments [member]

4,855

3,642

3,324

5,060

3,842

3,466

(205)

(200)

(142)

4,855

3,642

3,324

1,488

1,133

1,164

Operating earnings (loss) before other expenses, net

221

172

161

1,267

961

1,003

(59)

(69)

(43)

(39)

(28)

(29)

105

United States [member] | Reportable segments [member]

5,338

5,034

4,355

5,338

5,038

4,359

(4)

5,338

5,034

4,355

1,040

762

778

Operating earnings (loss) before other expenses, net

483

455

464

557

307

314

(31)

(205)

(127)

(75)

(55)

(47)

(30)

(21)

(19)

United Kingdom [member] | Reportable segments [member]

992

982

940

992

982

940

992

982

940

193

195

141

Operating earnings (loss) before other expenses, net

121

135

(6)

(8)

(3)

(14)

(8)

(17)

(8)

(17)

France [member] | Reportable segments [member]

842

781

863

842

781

863

842

781

863

Operating earnings (loss) before other expenses, net

(1)

(39)

(6)

(15)

(10)

(11)

(1)

Germany [member]

Germany [member] | Reportable segments [member]

447

439

429

497

485

472

(50)

(46)

(43)

447

439

429

Operating earnings (loss) before other expenses, net

(3)

(2)

(5)

(3)

(2)

Poland [member]

Poland [member] | Reportable segments [member]

466

415

399

467

419

405

(1)

(4)

(6)

466

415

399

Operating earnings (loss) before other expenses, net

(4)

(2)

Spain [member] | Reportable segments [member]

411

346

334

449

382

359

(38)

(36)

(25)

411

346

334

(6)

Operating earnings (loss) before other expenses, net

(22)

(39)

(113)

(331)

(2)

(3)

Philippines [member]

Philippines [member] | Reportable segments [member]

312

379

424

^[2]

312

379

424

^[2]

312

379

424

^[2]

114

Operating earnings (loss) before other expenses, net

^[2]

^[2]

^[2]

(2)

(1)

^[2]

(3)

^[2]

(9)

(2)

Israel [member]

Israel [member] | Reportable segments [member]

794

840

785

794

840

785

794

840

785

112

114

Operating earnings (loss) before other expenses, net

(1)

(6)

(4)

Rest of EMEAA [member]

Rest of EMEAA [member] | Reportable segments [member]

766

706

613

770

707

618

(4)

(1)

(5)

766

706

613

147

116

Operating earnings (loss) before other expenses, net

(7)

(10)

(110)

(6)

(4)

(3)

(6)

Colombia [member] | Reportable segments [member]

458

429

437

^[3]

458

429

437

^[3]

458

429

437

^[3]

Operating earnings (loss) before other expenses, net

^[3]

^[3]

^[3]

(19)

^[3]

(6)

(7)

^[3]

(1)

(12)

Panama [member]

Panama [member] | Reportable segments [member]

132

115

^[3]

158

149

121

^[3]

(26)

(34)

(23)

^[3]

132

115

^[3]

Operating earnings (loss) before other expenses, net

^[3]

^[3]

^[3]

(2)

Caribbean TCL [member]

Caribbean TCL [member] | Reportable segments [member]

317

294

273

^[4]

329

302

280

^[4]

(12)

(8)

(7)

^[4]

317

294

273

^[4]

Operating earnings (loss) before other expenses, net

^[4]

^[4]

^[4]

(17)

(19)

(1)

^[4]

(2)

(4)

(6)

Dominican Republic [member]

^[4]

(2)

(1)

(6)

Dominican Republic [member] | Reportable segments [member]

360

342

291

378

348

299

(18)

(6)

(8)

360

342

291

139

133

128

Operating earnings (loss) before other expenses, net

130

125

121

(2)

(1)

(1)

Rest of South, Central America and the Caribbean [member]

(3)

(1)

Rest of South, Central America and the Caribbean [member] | Reportable segments [member]

414

393

444

^[3]

414

394

465

^[3]

(1)

(21)

^[3]

414

393

444

^[3]

110

Operating earnings (loss) before other expenses, net

^[3]

^[3]

^[3]

(10)

(2)

(5)

^[3]

(2)

Summary of Condensed Combined Information of the Statement of Income of Discontinued Operations

^[3]

$ 1

$ (3)

[1]	In the caption of external revenues, refers mainly to trade maritime transactions of cement and clinker carried by Cemex’s trading unit and, in the rest of the captions, refers to Cemex’s corporate activities.
[2]	Cemex’s operations in the Philippines are mainly conducted through Cemex Holdings Philippines, Inc. (“CHP”), a Philippine company whose shares trade on the Philippines Stock Exchange. As of December 31, 2023 and 2022, there is a non-controlling interest in CHP of 10.14% and 22.10%, respectively, of its ordinary shares (note 21.4).
[3]	Until June 2023, after the conclusion of a tender offer and delisting process, Cemex Latam Holdings, S.A. (“CLH”), a company incorporated in Spain, traded its ordinary shares on the Colombian Stock Exchange. CLH is the indirect holding company of Cemex’s operations in Colombia, Panama, Guatemala and Nicaragua, and until August 31, 2022, of the operations in Costa Rica and El Salvador. As of December 31, 2023 and 2022, there was a non-controlling interest in CLH of 0.50% and 4.70% of its ordinary shares, respectively, excluding shares held in CLH’s treasury (note 21.4).
[4]	The shares of TCL trade on the Trinidad and Tobago Stock Exchange. As of December 31, 2023 and 2022, there was a non-controlling interest in TCL of 30.17% of its ordinary shares in both years (note 21.4).

Trade Accounts Receivable - Summary of Trade Accounts Receivable and Allowance for Expected Credit Loss (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Trade Accounts Receivables And Allowance For Expected Credit Loss [line items]
Accounts receivable	$ 1,841	$ 1,735
ECL allowance	90	$ 91	$ 101	$ 121
Mexico [member]
Trade Accounts Receivables And Allowance For Expected Credit Loss [line items]
Accounts receivable	457
ECL allowance	$ 31
ECL average rate	6.80%
United States [member]
Trade Accounts Receivables And Allowance For Expected Credit Loss [line items]
Accounts receivable	$ 536
ECL allowance	$ 8
ECL average rate	1.50%
EMEAA [member]
Trade Accounts Receivables And Allowance For Expected Credit Loss [line items]
Accounts receivable	$ 745
ECL allowance	$ 41
ECL average rate	5.50%
SCA&C [member]
Trade Accounts Receivables And Allowance For Expected Credit Loss [line items]
Accounts receivable	$ 96
ECL allowance	$ 10
ECL average rate	10.40%
Other country [member]
Trade Accounts Receivables And Allowance For Expected Credit Loss [line items]
Accounts receivable	$ 7
ECL allowance	$ 0
ECL average rate	0.00%

Goodwill and Intangible Assets, Net - Additional Information (Detail) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Feb. 28, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of detailed information about intangible assets [line items]
Risk free rate		4.79%	3.58%	1.82%	2.20%
Increase in pre-tax discount rate		1.00%
Decrease in long-term growth rate		1.00%
Weighted average Operating EBITDA multiple		10.9	11.3	11.5
Impairment of finite lived intangible assets		$ 7
Market risk premium percentage			1.70%	5.80%	5.70%
Percentage reduction in long term growth rate		1.20%
Stock volatility factor		1.07	1.08	1.12	1.19
Impairment losses of goodwill		$ 0	$ 365
Weight of Debt		22.50%	27.00%
Other expenses [member]
Disclosure of detailed information about intangible assets [line items]
Impairment losses related to intangible assets				$ 53
Neoris NV [member]
Disclosure of detailed information about intangible assets [line items]
Impairment losses of goodwill				27
Operating segments [member]
Disclosure of detailed information about intangible assets [line items]
Impairment of finite lived intangible assets			$ 365
Internally Developed Software [member]
Disclosure of detailed information about intangible assets [line items]
Impairment losses related to intangible assets				$ 49
Cemex [Member]
Disclosure of detailed information about intangible assets [line items]
Funding cost percentage	4.10%	6.70%	6.70%	4.10%
Decrease In Weighing Of Debt Percentage				26.90%	34.60%
Cemex [Member] \| Operating segments [member]
Disclosure of detailed information about intangible assets [line items]
Discount rates				0.10%	0.50%
Top of range [member]
Disclosure of detailed information about intangible assets [line items]
Funding cost percentage		6.67%
Weighted average [member] \| Cemex [Member] \| Operating segments [member]
Disclosure of detailed information about intangible assets [line items]
Discount rates		1.20%	2.00%
United States [member]
Disclosure of detailed information about intangible assets [line items]
Discount rates		10.10%	9.10%	7.20%
United States [member] \| Operating segments [member]
Disclosure of detailed information about intangible assets [line items]
Discount rates		1.00%
Impairment of finite lived intangible assets			$ 273
Percentage of goodwill		80.00%
United States [member] \| Goodwill [member] \| Operating segments [member]
Disclosure of detailed information about intangible assets [line items]
Impairment of finite lived intangible assets				$ 440
United States [member] \| Top of range [member]
Disclosure of detailed information about intangible assets [line items]
Risk free rate		4.79%
Mexico [member]
Disclosure of detailed information about intangible assets [line items]
Discount rates		11.60%	10.30%	8.40%
Percentage reduction in long term growth rate		1.00%	1.00%	1.00%
Spain [member]
Disclosure of detailed information about intangible assets [line items]
Discount rates		10.70%	9.40%	7.60%
Spain [member] \| Operating segments [member]
Disclosure of detailed information about intangible assets [line items]
Impairment of finite lived intangible assets			$ 92
Spain [member] \| Goodwill [member]
Disclosure of detailed information about intangible assets [line items]
Non cash impairment charges				$ 317
Egypt [member]
Disclosure of detailed information about intangible assets [line items]
Percentage reduction in long term growth rate		3.00%	2.85%	2.80%
UAE [Member] \| Goodwill [member]
Disclosure of detailed information about intangible assets [line items]
Non cash impairment charges				$ 96
Israel [member]
Disclosure of detailed information about intangible assets [line items]
Percentage reduction in long term growth rate		2.10%

Business Combinations, Divestitures and Discontinued Operations and Selected Financial Information by Reportable Segment and Line of Business (Tables)

12 Months Ended

Dec. 31, 2023

Statement [line items]

The following table presents condensed combined information of the statements of income of Cemex’s discontinued operations previously mentioned related to: a) Neoris operations for the period from January 1 to October 25, 2022 and for year ended December 31, 2021; b) Costa Rica and El Salvador for the period from January 1 to August 31, 2022 and for the year ended December 31, 2021; c) Spain related to the white cement business for the period from January 1 to July 9, 2021 and; d) France related to the Rhone Alpes region for the three-month period ended March 31, 2021.


		2022			2021
Revenues	$		256			354
Cost of sales and operating expenses			(225	)		(304	)
Other expenses, net			(8	)		(42	)
Financial expenses, net and others			–			5

Earnings before income tax			23			13
Income tax			(3	)		(48	)

Result of discontinued operations			20			(35	)
Net disposal result			304			(4	)

Net result of discontinued operations	$		324			(39	)

Summary of Consolidating Income Statements by Reportable Segment

Selected information of the consolidated statements of income by reportable segment for the years 2023, 2022 and 2021, excluding the share of profits of equity accounted investees by reportable segment that is included in note 14.1, was as follows:


2023		Sales (including intragroup transactions)		Less: Intragroup transactions			External revenues		Operating EBITDA			Less: Depreciation and amortization		Operating earnings (loss) before other expenses, net			Other expenses, net			Financial expense			Other financing items, net
Mexico	$		5,060		(205	)		4,855		1,488			221		1,267			(59	)		(39	)		105
United States			5,338		–			5,338		1,040			483		557			(31	)		(75	)		(30	)
EMEAA
United Kingdom			992		–			992		193			72		121			(6	)		(14	)		(17	)
France			842		–			842		53			54		(1	)		(39	)		(15	)		(1	)
Germany			497		(50	)		447		37			32		5			(3	)		(2	)		(5	)
Poland			467		(1	)		466		72			24		48			1			(2	)		2
Spain			449		(38	)		411		71			31		40			3			(2	)		1
Philippines 1			312		–			312		34			32		2			(2	)		(3	)		1
Israel			794		–			794		90			33		57			5			(6	)		1
Rest of EMEAA			770		(4	)		766		147			48		99			(7	)		(6	)		(6	)
SCA&C
Colombia 2			458		–			458		62			25		37			(19	)		(6	)		(1	)
Panama 2			158		(26	)		132		35			17		18			(2	)		–			–
Caribbean TCL 3			329		(12	)		317		78			20		58			(17	)		(2	)		(2	)
Dominican Republic			378		(18	)		360		139			9		130			(2	)		(1	)		13
Rest of SCA&C 2			414		–			414		90			13		77			(10	)		(2	)		1

Reportable segments								16,904		3,629			1,114		2,515			(188	)		(175	)		62
Other activities 4								484		(282	)		119		(401	)		(77	)		(356	)		(29	)

Consolidated	$							17,388		3,347			1,233		2,114			(265	)		(531	)		33


2022		Sales (including intragroup transactions)		Less: Intragroup transactions			External revenues		Operating EBITDA			Less: Depreciation and amortization		Operating earnings (loss) before other expenses, net			Other expenses, net			Financial expense			Other financing items, net
Mexico	$		3,842		(200	)		3,642		1,133			172		961			(69	)		(28	)		32
United States			5,038		(4	)		5,034		762			455		307			(205	)		(55	)		(21	)
EMEAA
United Kingdom			982		–			982		195			60		135			(8	)		(8	)		(8	)
France			781		–			781		63			50		13			1			(10	)		2
Germany			485		(46	)		439		40			28		12			2			(2	)		(3	)
Poland			419		(4	)		415		64			22		42			1			(2	)		4
Spain			382		(36	)		346		6			28		(22	)		(113	)		(2	)		2
Philippines 1			379		–			379		84			37		47			(2	)		18			(9	)
Israel			840		–			840		112			46		66			5			(4	)		–
Rest of EMEAA			707		(1	)		706		116			55		61			(10	)		(4	)		2
SCA&C
Colombia 2			429		–			429		61			24		37			12			(7	)		22
Panama 2			149		(34	)		115		28			16		12			(2	)		–			–
Caribbean TCL 3			302		(8	)		294		74			17		57			(19	)		(4	)		(1	)
Dominican Republic			348		(6	)		342		133			8		125			(1	)		(1	)		(3	)
Rest of SCA&C 2			394		(1	)		393		90			13		77			(2	)		(2	)		(3	)

Reportable segments								15,137		2,961			1,031		1,930			(410	)		(111	)		16
Other activities 4								440		(280	)		89		(369	)		(57	)		(394	)		135

Consolidated	$							15,577		2,681			1,120		1,561			(467	)		(505	)		151


2021		Sales (including intragroup transactions)		Less: Intragroup transactions			External revenues		Operating EBITDA			Less: Depreciation and amortization		Operating earnings (loss) before other expenses, net			Other expenses, net			Financial expense			Other financing items, net
Mexico	$		3,466		(142	)		3,324		1,164			161		1,003			(43	)		(29	)		2
United States			4,359		(4	)		4,355		778			464		314			(127	)		(47	)		(19	)
EMEAA
United Kingdom			940		–			940		141			69		72			(3	)		(8	)		(17	)
France			863		–			863		93			50		43			(6	)		(11	)		–
Germany			472		(43	)		429		69			28		41			–			(2	)		(2	)
Poland			405		(6	)		399		73			25		48			(4	)		(2	)		1
Spain			359		(25	)		334		(6	)		33		(39	)		(331	)		(3	)		51
Philippines 1			424		–			424		114			40		74			(1	)		17			(2	)
Israel			785		–			785		114			45		69			(1	)		(4	)		2
Rest of EMEAA			618		(5	)		613		87			56		31			(110	)		(3	)		1
SCA&C
Colombia 2			437		–			437		87			26		61			(19	)		(7	)		(12	)
Panama 2			121		(23	)		98		31			16		15			(2	)		–			–
Caribbean TCL 3			280		(7	)		273		65			19		46			(1	)		(6	)		(6	)
Dominican Republic			299		(8	)		291		128			7		121			3			–			(1	)
Rest of SCA&C 2			465		(21	)		444		110			13		97			(5	)		(2	)		(3	)

Reportable segments								14,009		3,048			1,052		1,996			(650	)		(107	)		(5	)
Other activities 4								370		(209	)		68		(277	)		568			(469	)		(156	)

Consolidated	$							14,379		2,839			1,120		1,719			(82	)		(576	)		(161	)

Cemex’s operations in the Philippines are mainly conducted through Cemex Holdings Philippines, Inc. (“CHP”), a Philippine company whose shares trade on the Philippines Stock Exchange. As of December 31, 2023 and 2022, there is a

non-controlling

interest in CHP of 10.14% and 22.10%, respectively, of its ordinary shares (note 21.4).

Until June 2023, after the conclusion of a tender offer and delisting process, Cemex Latam Holdings, S.A. (“CLH”), a company incorporated in Spain, traded its ordinary shares on the Colombian Stock Exchange. CLH is the indirect holding company of Cemex’s operations in Colombia, Panama, Guatemala and Nicaragua, and until August 31, 2022, of the operations in Costa Rica and El Salvador. As of December 31, 2023 and 2022, there was a

non-controlling

interest in CLH of 0.50% and 4.70% of its ordinary shares, respectively, excluding shares held in CLH’s treasury (note 21.4).

3	The shares of TCL trade on the Trinidad and Tobago Stock Exchange. As of December 31, 2023 and 2022, there was a non-controlling interest in TCL of 30.17% of its ordinary shares in both years (note 21.4).

4	In the caption of external revenues, refers mainly to trade maritime transactions of cement and clinker carried by Cemex’s trading unit and, in the rest of the captions, refers to Cemex’s corporate activities.

Summary of Balance sheet Information by Reportable Segment

Debt by reportable segment is disclosed in note 17.1. As of December 31, 2023 and 2022, the selected statement of financial position information by reportable segment was as follows:


2023		Associates and joint ventures		Other segment assets		Total assets		Total liabilities		Net assets by segment			Capital expenditures 1
Mexico	$		–		5,381		5,381		2,052		3,329			264
United States			216		12,782		12,998		2,770		10,228			521
EMEAA
United Kingdom			6		1,484		1,490		960		530			107
France			41		922		963		467		496			44
Germany			3		506		509		289		220			47
Poland			–		415		415		153		262			44
Spain			–		666		666		212		454			38
Philippines			–		795		795		135		660			85
Israel			–		808		808		507		301			41
Rest of EMEAA			11		852		863		329		534			75
SCA&C
Colombia			–		1,007		1,007		308		699			76
Panama			–		292		292		78		214			13
Caribbean TCL			–		478		478		207		271			18
Dominican Republic			–		233		233		95		138			16
Rest of SCA&C			–		280		280		111		169			25

Reportable segments			277		26,901		27,178		8,673		18,505			1,414
Other activities			452		754		1,206		7,644		(6,438	)		3
Assets held for sale			–		49		49		–		49			–

Total consolidated	$		729		27,704		28,433		16,317		12,116			1,417


2022		Associates and joint ventures		Other segment assets		Total assets		Total liabilities		Net assets by segment			Capital expenditures 1
Mexico	$		–		3,846		3,846		1,381		2,465			265
United States			198		12,425		12,623		2,642		9,981			551
EMEAA
United Kingdom			5		1,388		1,393		921		472			74
France			42		910		952		471		481			57
Germany			3		449		452		255		197			33
Poland			–		341		341		119		222			33
Spain			–		616		616		204		412			27
Philippines			–		792		792		155		637			72
Israel			–		771		771		495		276			37
Rest of EMEAA			10		773		783		303		480			55
SCA&C
Colombia			–		742		742		274		468			45
Panama			–		302		302		88		214			19
Caribbean TCL			–		499		499		218		281			16
Dominican Republic			–		232		232		81		151			18
Rest of SCA&C			–		268		268		104		164			20

Reportable segments			258		24,354		24,612		7,711		16,901			1,322
Other activities			382		1,385		1,767		7,827		(6,060	)		40
Assets held for sale			–		68		68		–		68			–

Total consolidated	$		640		25,807		26,447		15,538		10,909			1,362

1	Capital expenditures represent: a) the purchases of property, machinery and equipment, b) stripping costs, as well as c) assets for the right-of-use incurred during the respective period (notes 15.1 and 15.2) and exclude increases related to asset retirement obligations (note 18.2).

Summary of Revenues by Line of Business and Reportable Segment

Revenues including intragroup transactions and external customers by line of business and reportable segment for the years ended December 31, 2023, 2022 and 2021, were as follows:


2023		Cement		Concrete		Aggregates		Urbanization solutions		Others		Eliminations			External revenues
Mexico	$		3,378		1,397		399		1,163		13		(1,495	)		4,855
United States			1,988		3,070		1,347		694		14		(1,775	)		5,338
EMEAA
United Kingdom			315		344		376		201		22		(266	)		992
France			–		656		356		17		–		(187	)		842
Germany			227		171		91		38		62		(142	)		447
Poland			331		169		44		6		–		(84	)		466
Spain			326		119		41		25		–		(100	)		411
Philippines			311		–		–		3		1		(3	)		312
Israel			–		662		200		116		2		(186	)		794
Rest of EMEAA			551		288		52		17		23		(165	)		766
SCA&C
Colombia			316		163		48		54		22		(145	)		458
Panama			128		30		9		12		4		(51	)		132
Caribbean TCL			316		5		8		1		4		(17	)		317
Dominican Republic			301		24		–		60		10		(35	)		360
Rest of SCA&C			373		18		5		28		1		(11	)		414

Reportable segments			8,861		7,116		2,976		2,435		178		(4,662	)		16,904
Other activities			–		–		–		–		484		–			484

Consolidated	$															17,388


2022		Cement		Concrete		Aggregates		Urbanization solutions		Others		Eliminations			External revenues
Mexico	$		2,663		925		261		843		14		(1,064	)		3,642
United States			2,017		2,871		1,202		697		12		(1,765	)		5,034
EMEAA
United Kingdom			312		329		371		206		27		(263	)		982
France			–		622		332		15		–		(188	)		781
Germany			220		186		81		32		71		(151	)		439
Poland			282		160		41		4		1		(73	)		415
Spain			281		99		34		25		–		(93	)		346
Philippines			378		–		–		4		–		(3	)		379
Israel			–		718		213		97		21		(209	)		840
Rest of EMEAA			504		260		48		18		26		(150	)		706
SCA&C
Colombia			296		137		40		62		19		(125	)		429
Panama			119		27		7		13		2		(53	)		115
Caribbean TCL			297		4		6		2		5		(20	)		294
Dominican Republic			285		20		–		46		10		(19	)		342
Rest of SCA&C			360		16		3		22		1		(9	)		393

Reportable segments			8,014		6,374		2,639		2,086		209		(4,185	)		15,137
Other activities			–		–		–		–		440		–			440

Consolidated	$															15,577


2021		Cement		Concrete		Aggregates		Urbanization solutions		Others		Eliminations			External revenues
Mexico	$		2,412		733		208		810		14		(853	)		3,324
United States			1,731		2,479		1,005		558		13		(1,431	)		4,355
EMEAA
United Kingdom			270		311		377		200		53		(271	)		940
France			–		682		397		6		–		(222	)		863
Germany			210		204		65		30		69		(149	)		429
Poland			272		154		38		6		1		(72	)		399
Spain			256		93		31		23		–		(69	)		334
Philippines			423		–		–		4		1		(4	)		424
Israel			–		657		199		89		27		(187	)		785
Rest of EMEAA			423		232		47		14		21		(124	)		613
SCA&C
Colombia			309		130		36		58		21		(117	)		437
Panama			103		16		5		7		1		(34	)		98
Caribbean TCL			271		5		7		4		6		(20	)		273
Dominican Republic			240		16		–		44		8		(17	)		291
Rest of SCA&C			400		20		6		24		1		(7	)		444

Reportable segments			7,320		5,732		2,421		1,877		236		(3,577	)		14,009
Other activities			–		–		–		–		370		–			370

Consolidated	$															14,379

Inventories (Tables)

12 Months Ended

Dec. 31, 2023

Summary of Consolidated Balance of Inventories

As of December 31, 2023 and 2022, the consolidated balances of inventories were summarized

follows:


		2023		2022
Materials and spare parts	$		537		563
Finished goods			461		406
Raw materials			370		329
Work-in-process			330		284
Inventory in transit			91		87

	$		1,789		1,669

Earnings (Loss) Per Share

12 Months Ended

Dec. 31, 2023

Earnings (Loss) Per Share

23)	EARNINGS (LOSS) PER SHARE

Basic earnings (loss) per share is calculated by dividing net income attributable to ordinary equity holders of the Parent Company (the numerator) by the weighted average number of shares outstanding (the denominator) during the period. Shares that would be issued depending only on the passage of time should be included in the determination of the basic weighted average number of shares outstanding. Diluted earnings (loss) per share should reflect in both the numerator and denominator the assumption that convertible instruments are converted, that options or warrants are exercised, or that ordinary shares are issued upon the satisfaction of specified conditions, to the extent that such assumption would lead to a reduction in basic earnings per share or an increase in basic loss per share. Otherwise, the effects of potential shares are not considered because they generate anti-dilution.

The amounts considered for calculations of earnings (loss) per share in 2023, 2022 and 2021 were as follows:


		2023		2022		2021

Denominator (thousands of shares)
Weighted-average number of shares outstanding – basic			43,510,758		43,554,921		44,123,654
Effect of dilutive instruments – share-based compensation (note 22) 1			599,229		793,322		729,292

Weighted-average number of shares – diluted			44,109,987		44,348,243		44,852,946

Numerator
Net income from continuing operations	$		199		561		817
Less: non-controlling interest net income			17		27		25

Controlling interest net income from continuing operations	$		182		534		792

Net income (loss) from discontinued operations	$		–		324		(39	)

Controlling interest basic earnings (loss) per share
Controlling interest basic earnings per share	$		0.0042		0.0197		0.0171
Controlling interest basic earnings per share from continuing operations			0.0042		0.0123		0.0180
Controlling interest basic earnings (loss) per share from discontinued operations			–		0.0074		(0.0009	)

Controlling interest diluted earnings (loss) per share
Controlling interest diluted earnings per share	$		0.0041		0.0193		0.0168
Controlling interest diluted earnings per share from continuing operations			0.0041		0.0120		0.0177
Controlling interest diluted earnings (loss) per share from discontinued operations			–		0.0073		(0.0009	)

1	Number of the Parent Company’s shares to be potentially issued under the Share- Based Compensation Programs to be delivered to the executives equivalent to 199.7 million CPOs or 19.97 million ADSs.

Investments In Associates And Joint Ventures, Other Investments And Non-Current Accounts Receivable - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Camcem [member]
Disclosure of detailed information about financial instruments [line items]
Percentage Of Total Assets	76.00%	74.00%
Percentage Of Total Liabilities	77.00%	78.00%
Associates and Joint Ventures [Member]
Disclosure of detailed information about financial instruments [line items]
Percentage Of Total Assets	59.00%	53.00%	49.00%

Other Current and Non-current Liabilities

12 Months Ended

Dec. 31, 2023

Other Current and Non-current Liabilities

18)	OTHER CURRENT AND NON-CURRENT LIABILITIES

18.1)

OTHER CURRENT LIABILITIES

As of December 31, 2023 and 2022, consolidated other current liabilities were as follows:


		2023		2022

Other accounts payable and accrued expenses 1	$		656		560
Provisions 2			492		276
Contract liabilities with customers (note 3) 3			384		293
Interest payable			88		96

	$		1,620		1,225

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 18.2 below.

18.2)

OTHER

NON-CURRENT

LIABILITIES

As of December 31, 2023 and 2022, consolidated other

non-current

liabilities were as follows:


		2023		2022

Asset retirement obligations 1	$		470		465
Environmental liabilities 2			250		233
Accruals for legal assessments and other responsibilities 3			100		83
Non-current liabilities for valuation of derivative instruments			15		2
Other non-current liabilities and provisions 4			329		282

	$		1,164		1,065

1	Provisions for asset retirement 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, 2023 and 2022, the balance includes deferred revenues of $22 and $27, 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 2023 and 2022, were as follows:


		2023
		Asset retirement obligations			Environmental liabilities			Accruals for legal proceedings			Valuation of derivative instruments			Other liabilities and provisions			Total			2022
Balance at beginning of period	$		509			276			85			50			421			1,341			1,539
Additions or increase in estimates			64			11			49			169			239			532			270
Releases or decrease in estimates			(58	)		(15	)		(34	)		(123	)		(84	)		(314	)		(486	)
Business combinations			–			–			–			–			–			–			6
Accretion expense			30			–			1			–			11			42			32
Foreign currency translation			28			7			4			(1	)		17			55			(20	)

Balance at end of period	$		573			279			105			95			604			1,656			1,341

Out of which:
Current provisions	$		103			29			5			80			275			492			276
Other non-current liabilities			470			250			100			15			329			1,164			1,065

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

12 Months Ended

Dec. 31, 2023

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, 2023 and 2022, property, machinery and equipment, net and assets for the

right-of-use,

net were summarized as follows:


		2023		2022
Property, machinery and equipment, net	$		11,272		10,156
Assets for the right-of-use, net			1,194		1,128

	$		12,466		11,284

15.1)

PROPERTY, MACHINERY AND EQUIPMENT, NET

As of December 31, 2023, the average useful lives by category of fixed assets, which are reviewed

each reporting date, were as follows:


		Years
Administrative buildings		30
Industrial buildings		25
Machinery and equipment in plant		16
Ready-mix trucks and motor vehicles		11
Office equipment and other assets		7

As of December 31, 2023, 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 24.4).

As of December 31, 2023 and 2022, consolidated property, machinery and equipment, net and the changes in this line item during 2023 and 2022, were as follows:


		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
Disposals 3			(31)		(2)		(75)		–		(108)
Business combinations (note 4.1)			13		4		22		–		39
Depreciation and depletion for the period			(141)		(80)		(653)		–		(874)
Impairment losses (note 7)			(16)		(2)		(18)		–		(36)
Asset retirement obligations (note 18.2)			–		20		44		–		64
Foreign currency translation effects			399		124		369		63		955

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


		2022

		Land and mineral reserves			Building			Machinery and equipment			Construction in progress 2			Total

Cost at beginning of period	$		4,801			2,532			11,727			1,262			20,322
Accumulated depreciation and depletion			(1,226	)		(1,494	)		(7,400	)		–			(10,120)

Net book value at beginning of period			3,575			1,038			4,327			1,262			10,202
Capital expenditures			126			52			406			457			1,041
Stripping costs 1			25			–			–			–			25

Total capital expenditures			151			52			406			457			1,066
Disposals 3			(4	)		(4	)		(22	)		–			(30)
Business combinations (note 4.1)			32			1			9			1			43
Depreciation and depletion for the period			(153	)		(78	)		(493	)		–			(724)
Impairment losses (note 7)			(12	)		(8	)		(55	)		(2	)		(77)
Asset retirement obligations (note 18.2)			–			5			17			–			22
Foreign currency translation effects			(83	)		(177	)		(36	)		(50	)		(346)

Cost at end 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 end of period	$		3,506			829			4,153			1,668			10,156

All waste removal costs or stripping costs incurred in the operative phase of a surface mine to access the mineral reserves are recognized as part of its carrying amount. The capitalized amounts are further amortized over the expected useful life of exposed ore body based on the

units-of-production

method.

As of December 31, 2023, the Maceo plant in Colombia with an annual capacity of 1.3 million tons of cement, has not initiated commercial operations mainly as the access road has not been finalized. As of the reporting date, the works related to the access road to the plant reflect significant progress; nonetheless, the beginning of commercial operations is subject also to the successful conclusion of several ongoing processes for the proper operation of the assets and other legal proceedings (note 25.3). As of December 31, 2023, the carrying amount of the plant is for an amount in Colombian Pesos equivalent to $308.

3	In 2023 includes sales of non-strategic fixed assets in the United States and France for $23 and $16, respectively, among others. In 2022 includes sales of non-strategic fixed assets in the United States and the United Kingdom for $5 in each country, among others.

During the years ended December 31, 2023, 2022 and 2021 impairment losses of fixed assets by country are as follows:


		2023		2022		2021

Colombia	$		8		–		10
Caribbean TCL			7		14		–
France			6		–		–
United Kingdom			5		10		5
United States			3		26		18
Spain			2		23		–
Others			5		4		10

	$		36		77		43

In connection with the impairment losses presented in the table above, recognized within the line item of “Other expenses, net” (notes 2.9 and 7), Cemex adjusted the related fixed assets to their estimated value in use in those circumstances in which the assets remained in operation based on estimated cash flows during the remaining useful life, or to their realizable value, in the case of idle assets.

Cemex’s recognized impairment losses of fixed assets in 2023 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; and c) some equipment that remained idle for several periods. In 2022 and 2021, those impairment losses were associated mainly with certain negative effects of the

COVID-19

Pandemic 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. In addition, during 2023, 2022 and 2021 there were no reversal of impairment charges.

15.2)

ASSETS FOR THE RIGHT-OF-USE, NET

As of December 31, 2023 and 2022, consolidated

asset

s for the

right-of-use,

net and the changes in this caption during 2023 and 2022, were as follows:


		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			(15	)		(36	)		(141	)		(12	)		(204)
Foreign currency translation effects			13			21			(68	)		(8	)		(42)

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


								2022

		Land			Buildings			Machinery and equipment			Others			Total

Assets for the right-of-use at beginning of period	$		395			401			1,513			21			2,330
Accumulated depreciation			(147	)		(205	)		(845	)		(13	)		(1,210)

Net book value at beginning of period			248			196			668			8			1,120
Additions of new leases			45			21			207			23			296
Cancellations and remeasurements, net			(15	)		(27	)		(82	)		(1	)		(125)
Depreciation			(1	)		(77	)		(165	)		(15	)		(258)
Foreign currency translation effects			20			19			48			8			95

Assets for the right-of-use at end of period			439			335			1,570			55			2,399
Accumulated depreciation			(142	)		(203	)		(894	)		(32	)		(1,271)

Net book value at end of period	$		297			132			676			23			1,128

For the years ended December 31, 2023, 2022 and 2021, the combined rental expense

with short-term leases, leases of

low-value

assets and variable lease payments were $137, $108 and $94, 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.

Pensions and Post-Employment Benefits - Sensitivity Analysis of Pension and Other Post-Employment Benefits (Detail) $ in Millions	Dec. 31, 2023 USD ($)
Actuarial assumption of discount rates [member]
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Sensitivity, possible increase in actuarial assumption	$ (99)
Sensitivity, possible decrease in actuarial assumption	108
Actuarial assumption of expected rates of salary increases [member]
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Sensitivity, possible increase in actuarial assumption	5
Sensitivity, possible decrease in actuarial assumption	(5)
Actuarial assumption of expected rates of pension increases [member]
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Sensitivity, possible increase in actuarial assumption	73
Sensitivity, possible decrease in actuarial assumption	(68)
Pension defined benefit plans [member] \| Actuarial assumption of discount rates [member]
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Sensitivity, possible increase in actuarial assumption	(95)
Sensitivity, possible decrease in actuarial assumption	104
Pension defined benefit plans [member] \| Actuarial assumption of expected rates of salary increases [member]
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Sensitivity, possible increase in actuarial assumption	4
Sensitivity, possible decrease in actuarial assumption	(4)
Pension defined benefit plans [member] \| Actuarial assumption of expected rates of pension increases [member]
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Sensitivity, possible increase in actuarial assumption	73
Sensitivity, possible decrease in actuarial assumption	(68)
Other post employment benefits [Member] \| Actuarial assumption of discount rates [member]
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Sensitivity, possible increase in actuarial assumption	(4)
Sensitivity, possible decrease in actuarial assumption	4
Other post employment benefits [Member] \| Actuarial assumption of expected rates of salary increases [member]
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Sensitivity, possible increase in actuarial assumption	1
Sensitivity, possible decrease in actuarial assumption	$ (1)

Revenue - Summary of Revenue, After Sales and Eliminations Between Related Parties Resulting from Consolidation (Detail) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Analysis of income and expense [abstract]

From the sale of goods associated to CEMEX's main activities

^[1]

$ 16,904

$ 15,137

$ 14,009

From the sale of other goods and services

^[2]

484

440

370

Total

$ 17,388

$ 15,577

$ 14,379

[1]	During the reported periods, revenues recognized over time under construction contracts were not significant.
[2]	Refers mainly to revenues generated by subsidiaries not individually significant operating in different lines of business.

The income arising in the course of an entity's ordinary activities. Income is increases in assets, or decreases in liabilities, that result in increases in equity, other than those relating to contributions from holders of equity claims.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2023-01-01
-Paragraph 28
-Subparagraph a
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_28_a&doctype=Standard
-URIDate 2023-03-23

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2023-01-01
-Paragraph 23
-Subparagraph a
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_23_a&doctype=Standard
-URIDate 2023-03-23

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2023-01-01
-Paragraph 32
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_32&doctype=Standard
-URIDate 2023-03-23

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 5
-IssueDate 2023-01-01
-Paragraph 33
-Subparagraph b
-Clause i
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=5&code=ifrs-tx-2023-en-r&anchor=para_33_b_i&doctype=Standard
-URIDate 2023-03-23

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2023-01-01
-Paragraph 33
-Subparagraph a
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_33_a&doctype=Standard
-URIDate 2023-03-23

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2023-01-01
-Paragraph 34
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_34&doctype=Standard
-URIDate 2023-03-23

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 12
-IssueDate 2023-01-01
-Paragraph B12
-Subparagraph b
-Clause v
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2023-en-r&anchor=para_B12_b_v&doctype=Appendix&subtype=B
-URIDate 2023-03-23

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Name IFRS
-Number 12
-IssueDate 2023-01-01
-Paragraph B10
-Subparagraph b
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2023-en-r&anchor=para_B10_b&doctype=Appendix&subtype=B
-URIDate 2023-03-23

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
-IssueDate 2023-01-01
-Paragraph 82
-Subparagraph a
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_82_a&doctype=Standard
-URIDate 2023-03-23

Reference 10: http://www.xbrl.org/2003/role/exampleRef
-Name IAS
-Number 1
-IssueDate 2023-01-01
-Paragraph 103
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_103&doctype=Standard
-URIDate 2023-03-23

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Name IAS
-Number 1
-IssueDate 2023-01-01
-Paragraph 102
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_102&doctype=Standard
-URIDate 2023-03-23

+ Details

Other Expenses, Net

12 Months Ended

Dec. 31, 2023

Other Expenses, Net

7)	OTHER EXPENSES, NET

The detail of the caption “Other expenses, net” for the years 2023, 2022 and 2021 is as follows:


		2023			2022			2021
Results from the sale of assets and others 1	$		(219	)		9			(126	)
Impairment losses (notes 15.1, 16.1 and 16.2)			(43	)		(442	)		(513	)
Restructuring costs 2			(2	)		(20	)		(17	)
Incremental expenses related to the COVID-19 Pandemic 3			(1	)		(14	)		(26	)
Sale of CO2 allowances (note 28.13) 4			–			–			600

	$		(265	)		(467	)		(82	)

2	Restructuring costs mainly refer to severance payments and the definitive closing of operating sites.

Refers to certain incremental expenses that Cemex considers of

non-recurring

nature related to the maintenance of some hygiene measures related to the Coronavirus

SARS-CoV-2

pandemic declared in March 2020 (the

“COVID-19

Pandemic”). From the beginning of the

COVID-19

In connection with the EU’s Emissions Trading System (“EU ETS”), during March 2021, considering Cemex’s targets for the reduction of CO

emissions (note 24.4), as well as the innovative technologies and considerable capital investments that have to be deployed to achieve such goals, Cemex sold 12.3 million CO

emission allowances (“Allowances”) for an aggregate amount of $600.

Operating Expenses - Schedule Of Operating Expenses By Nature (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of attribution of expenses by nature to their function [line items]
Depreciation and amortization	$ 1,233	$ 1,120	$ 1,120
Other operating expenses	265	467	82
Total operating expenses	3,747	3,261	2,917
Operating Expenses [Member]
Disclosure of attribution of expenses by nature to their function [line items]
Transportation costs	1,793	1,676	1,502
Payroll	1,154	1,038	905
Depreciation and amortization	216	191	186
Professional legal, accounting and advisory services	236	145	144
Maintenance, repairs and supplies	99	84	76
Other operating expenses	249	127	104
Total operating expenses	$ 3,747	$ 3,261	$ 2,917

Business Combinations, Divestitures and Discontinued Operations and Selected Financial Information by Reportable Segment and Line of Business - Summary of Consolidating Statements of Operations by Geographic Operating Segments (Parenthetical) (Detail)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Caribbean TCL [member] \| Trinidad Cement Limited [member]
Disclosure of operating segments [line items]
Non-controlling interest ownership percentage	30.17%	30.17%
CEMEX Latam Holdings, S.A. [member]
Disclosure of operating segments [line items]
Non-controlling interest ownership percentage	0.50%	4.70%
Cemex Holdings Philippines, Inc. [member]
Disclosure of operating segments [line items]
Non-controlling interest ownership percentage	10.14%	22.10%

Cost Of Sales - Summary of Cost of Sales (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Cost Of Sales By nature [Line Items]
Depreciation and amortization	$ 1,233	$ 1,120	$ 1,120
Cost of sales	11,527	10,755	9,743
Cost of sales [member]
Disclosure Of Cost Of Sales By nature [Line Items]
Raw materials and goods for resale	5,353	4,916	4,875
Payroll	1,734	1,474	1,349
Electricity, fuels and other services	1,791	1,655	1,174
Depreciation and amortization	1,017	929	934
Maintenance, repairs and supplies	955	809	722
Transportation Cost	466	671	573
Other Production Costs and Change in Inventory	211	301	116
Cost of sales	$ 11,527	$ 10,755	$ 9,743

Financial Items (Tables)

12 Months Ended

Dec. 31, 2023

Summary of Financial Items

The detail of financial income and other items, net in 2023, 2022 and 2021 was as follows:


		2023			2022			2021
Foreign exchange results	$		144			73			(35	)
Financial income			40			27			22
Results from financial instruments, net (notes 14.2 and 17.4) 1			(65	)		99			(88	)
Net interest cost of defined benefit liabilities (note 19)			(44	)		(29	)		(31	)
Effects of amortized cost on assets and liabilities			(42	)		(32	)		(28	)
Others			–			13			(1	)

	$		33			151			(161	)

1	For the years 2022 and 2021, includes the reclassification described in note 8.1.

Pensions and Post-Employment Benefits - Schedule of Estimated Payments for Pensions and Other Post-Employment Benefits (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)
Disclosure - Pensions and Post-Employment Benefits - Schedule of Estimated Payments for Pensions and Other Post-Employment Benefits [Abstract]
2024	$ 173
2025	149
2026	151
2027	148
2028 – 2033	$ 882

Financial Instruments - Detailed Information about In Lease Liabilities (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Text block [abstract]
Lease financial liability at beginning of year	$ 1,176	$ 1,176	$ 1,260
Additions from new leases	341	296	227
Reductions from payments	(256)	(276)	(313)
Cancellations and liability remeasurements	(24)	7	27
Foreign currency translation and accretion effects	21	(27)	(25)
Lease financial liability at end of year	$ 1,258	$ 1,176	$ 1,176

Financial Instruments - Summary of Debt Summarized by Interest Rates and Currencies (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of detailed information about financial instruments [line items]
Short- term	$ 25	$ 51
Long- term	6,203	6,920
Total	6,228	6,971	$ 7,379	$ 9,339
Floating interest rate [member]
Disclosure of detailed information about financial instruments [line items]
Short- term	13	0
Long- term	1,968	1,750
Total	$ 1,981	$ 1,750
Short-term	6.40%	3.20%
Long-term	7.10%	4.60%
Fixed interest rate [member]
Disclosure of detailed information about financial instruments [line items]
Short- term	$ 12	$ 51
Long- term	4,235	5,170
Total	$ 4,247	$ 5,221
Short-term	4.40%	5.10%
Long-term	5.00%	5.30%
US Dollar [member]
Disclosure of detailed information about financial instruments [line items]
Short- term	$ 1	$ 5
Long- term	4,348	5,511
Total	$ 4,349	$ 5,516
Effective rate	5.50%	5.70%
Euro [member]
Disclosure of detailed information about financial instruments [line items]
Short- term	$ 9	$ 2
Long- term	990	962
Total	$ 999	$ 964
Effective rate	4.20%	3.30%
Mexican pesos [member]
Disclosure of detailed information about financial instruments [line items]
Short- term	$ 0	$ 0
Long- term	704	267
Total	$ 704	$ 267
Effective rate	12.00%	12.20%
Philippine pesos [member]
Disclosure of detailed information about financial instruments [line items]
Short- term	$ 11	$ 8
Long- term	112	139
Total	$ 123	$ 147
Effective rate	7.10%	5.40%
Other Currencies [Member]
Disclosure of detailed information about financial instruments [line items]
Short- term	$ 4	$ 36
Long- term	49	41
Total	$ 53	$ 77
Effective rate	4.50%	4.30%

Financial Instruments - Summary of Carrying Amounts and Fair Value of Financial Instruments (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Financial assets
Derivative instruments	$ 64	$ 57
Other investments and non-current accounts receivable	276	236
Other investments and non-current accounts receivable	340	293
Financial liabilities
Long-term debt	6,203	6,920
Other financial obligations	986	918
Derivative financial instruments	15	2
Total financial liabilities	7,204	7,840
At Fair Value [Member]
Financial assets
Derivative instruments	64	57
Other investments and non-current accounts receivable	266	229
Other investments and non-current accounts receivable	330	286
Financial liabilities
Long-term debt	6,030	6,517
Other financial obligations	919	788
Derivative financial instruments	15	2
Total financial liabilities	$ 6,964	$ 7,307

Property, Machinery and Equipment, Net and Assets For The Right-Of-Use, Net - Summary of Recognized Impairment Losses (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of impairment loss and reversal of impairment loss [line items]
Impairment losses	$ 36	$ 77	$ 43
Colombia [member]
Disclosure of impairment loss and reversal of impairment loss [line items]
Impairment losses	8	0	10
Caribbean TCL [member]
Disclosure of impairment loss and reversal of impairment loss [line items]
Impairment losses	7	14	0
France [member]
Disclosure of impairment loss and reversal of impairment loss [line items]
Impairment losses	6	0	0
United Kingdom [member]
Disclosure of impairment loss and reversal of impairment loss [line items]
Impairment losses	5	10	5
United States [member]
Disclosure of impairment loss and reversal of impairment loss [line items]
Impairment losses	3	26	18
Spain [member]
Disclosure of impairment loss and reversal of impairment loss [line items]
Impairment losses	2	23	0
Other countries [member]
Disclosure of impairment loss and reversal of impairment loss [line items]
Impairment losses	$ 5	$ 4	$ 10

Commitments - Summary of Contractual Obligations (Detail)
$ in Millions

12 Months Ended

Dec. 31, 2023

USD ($)

Disclosure of Detailed Information About Borrowings [Line Items]

$ 6,275

1,624

^[1]

7,899

^[2]

1,821

^[3]

1,503

^[4]

441

^[5]

2,971

^[6]

Less than 1 year [Member]

14,635

Disclosure of Detailed Information About Borrowings [Line Items]

340

^[1]

365

^[2]

369

^[3]

173

^[4]

286

^[5]

674

^[6]

Disclosure of Detailed Information About Borrowings [Line Items]

1,867

1-3 years [Member]

1,614

493

^[1]

2,107

^[2]

595

^[3]

300

^[4]

155

^[5]

1,043

^[6]

Disclosure of Detailed Information About Borrowings [Line Items]

4,200

3-5 Years [Member]

1,734

282

^[1]

2,016

^[2]

464

^[3]

296

^[4]

^[5]

643

^[6]

More than 5 Years [Member]

3,419

Disclosure of Detailed Information About Borrowings [Line Items]

2,902

509

^[1]

3,411

^[2]

393

^[3]

734

^[4]

^[5]

611

^[6]

Investments accounted for using equity method [abstract]

$ 5,149

[1]	Represent nominal cash flows. As of December 31, 2023, the NPV of future payments under the Company’s lease contracts was $1,258, of which, $325 refers to payments from 1 to 3 years and $185 refers to payments from 3 to 5 years.
[2]	The schedule of debt payments, which includes current maturities, does not consider the effect of any refinancing of debt that may occur during the following years. In the past, Cemex has replaced its long-term obligations for others of a similar nature.
[3]	Estimated cash flows on floating rate denominated debt were determined using the floating interest rates in effect as of December 31, 2023.
[4]	Represents estimated annual payments under these benefits for the next ten years (note 19), including the estimate of new retirees during such future years.
[5]	Refers mainly to the expansion of a cement production line in the Philippines.
[6]	Future payments for the purchase of raw materials are presented based on contractual nominal cash flows. Future nominal payments for energy were estimated for all contractual commitments based on an aggregate average expected consumption per year using the future prices of energy established in the contracts for each period. Future payments also include Cemex’s commitments for the purchase of fuel. In addition, includes a contractual commitment with Neoris over a 5-year contract from 2023 until 2027 for the acquisition by Cemex of digitalization services and solutions for an annual amount of $55. Moreover, it includes the Company’s commitments with six vendors for back-office services for an average annual amount of $60.

Material Accounting Policies - Additional Information (Detail) - EUR (€) € in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of significant accounting policies [line items]
Average effective tax rate	(86.30%)	(27.10%)	(14.40%)
With Effect From First Of January Two Thousand And Twenty Four [Member] \| Pillar Two Tax Reform [Member]
Disclosure of significant accounting policies [line items]
Minimum alternate tax rate percentage			15.00%
Minimum annual revenue for the applicability of minimum alternate tax rate			€ 750
CEMEX Espana SA [member] \| With Effect From First Of January Two Thousand And Twenty Four [Member] \| Pillar Two Tax Reform [Member]
Disclosure of significant accounting policies [line items]
Minimum alternate tax rate percentage			15.00%
Computer software [member]
Disclosure of significant accounting policies [line items]
Useful life of intangible asset	5 years
Extraction rights [member]
Disclosure of significant accounting policies [line items]
Useful life of intangible asset	83 years
Bottom of range [member]
Disclosure of significant accounting policies [line items]
Useful life of intangible asset	3 years
Top of range [member]
Disclosure of significant accounting policies [line items]
Useful life of intangible asset	20 years
Top of range [member] \| CEMEX Espana SA [member] \| With Effect From First Of January Two Thousand And Twenty Four [Member] \| Pillar Two Tax Reform [Member]
Disclosure of significant accounting policies [line items]
Average effective tax rate			15.00%

Principal Subsidiaries

12 Months Ended

Dec. 31, 2023

Principal Subsidiaries

27)	PRINCIPAL SUBSIDIARIES

As mentioned in notes 4.3 and 21.4, as of December 31, 2023 and 2022, there are

non-controlling


		% Interest

Subsidiary	Country	2023		2022

Cemex España, S.A. 1	Spain		99.9		99.9
Cemex, Inc.	United States of America		100.0		100.0
Cemex Nicaragua, S.A. 2	Nicaragua		100.0		100.0
Assiut Cement Company	Egypt		95.8		95.8
Cemex Colombia, S.A. 3	Colombia		99.7		99.7
Cemento Bayano, S.A. 4	Panama		99.5		99.5
Cemex Dominicana, S.A.	Dominican Republic		100.0		100.0
Trinidad Cement Limited	Trinidad and Tobago		69.8		69.8
Caribbean Cement Company Limited 5	Jamaica		79.0		79.0
Cemex de Puerto Rico Inc.	Puerto Rico		100.0		100.0
Cemex France Gestion (S.A.S.)	France		100.0		100.0
Cemex Holdings Philippines, Inc. 6	Philippines		89.9		77.9
Solid Cement Corporation 7	Philippines		100.0		100.0
APO Cement Corporation 7	Philippines		100.0		100.0
Cemex U.K.	United Kingdom		100.0		100.0
Cemex Deutschland, AG.	Germany		100.0		100.0
Cemex Czech Republic, s.r.o.	Czech Republic		100.0		100.0
Cemex Polska sp. Z.o.o.	Poland		100.0		100.0
Cemex Holdings (Israel) Ltd.	Israel		100.0		100.0
Cemex Topmix LLC, Cemex Supermix LLC and Cemex Falcon LLC 8	United Arab Emirates		100.0		100.0
Cemex International Trading LLC 9	United States of America		100.0		100.0
Sunbulk Shipping Limited 10	Bahamas		100.0		100.0

1	Cemex España is the direct or indirect holding company of most of Cemex’s international operations .

2	Represents Cemex Colombia’s 99% interest and CLH’s 1% interest held indirectly through another subsidiary of CLH.

3	Represents CLH’s direct and indirect interest in ordinary and preferred shares, including own shares held in Cemex Colombia’s treasury.

4	Represents CLH’s 99.483% indirect interest in ordinary shares, which excludes a 0.516% interest held in Cemento Bayano, S.A.’s treasury.

5	Represents the aggregate ownership interest of Cemex in this entity of 79.04%, which includes TCL’s 74.08% direct and indirect interest and Cemex’s 4.96% indirect interest held through other subsidiaries.

6	Cemex’s operations in the Philippines are conducted through CHP, a subsidiary incorporated in the Philippines, which since July 2016 trades its ordinary shares on the Philippines Stock Exchange under the symbol CHP (note 21.4)

7	Represents CHP’s direct and indirect interest.

8	Cemex España indirectly owns a 49% equity interest in each of these entities and indirectly holds the remaining 51% of the economic benefits, through agreements with other shareholders.

9	Cemex International Trading LLC is involved in the international trading of Cemex’s products and fuel commercialization.

Principal Subsidiaries - Summary of Principal Subsidiaries Interests (Parenthetical) (Detail)	12 Months Ended
	Dec. 31, 2023
Cemex Colombia, S.A. [member]
Disclosure of subsidiaries [line items]
Percentage of interest	99.00%
Cemento Bayano, S.A. [member]
Disclosure of subsidiaries [line items]
Interest held on treasury	0.516%
Percentage of indirectly interest	99.483%
Trinidad Cement Limited [member]
Disclosure of subsidiaries [line items]
Percentage of ownership interest	74.08%
Caribbean Cement Company Limited [member]
Disclosure of subsidiaries [line items]
Percentage of ownership interest	79.04%
Other Subsidiaries [Member]
Disclosure of subsidiaries [line items]
Percentage of equity interest	51.00%
Another Subsidiary [Member]
Disclosure of subsidiaries [line items]
Percentage of ownership interest	4.96%
Percentage of indirectly interest	1.00%
Cemex España, S.A. [member]
Disclosure of subsidiaries [line items]
Percentage of equity interest	49.00%

Financial Items - Summary of Financial Items (Detail) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Material income and expense [abstract]

Foreign exchange results

$ 144

$ 73

$ (35)

Financial income

Results from financial instruments, net (notes 14.2 and 17.4)

^[1]

(65)

(88)

Net interest cost of defined benefit liabilities (note 19)

(44)

(29)

(31)

Effects of amortized cost on assets and liabilities

(42)

(32)

(28)

Others

(1)

Other financial income (expense), net

$ 33

$ 151

$ (161)

[1]	For the years 2022 and 2021, includes the reclassification described in note 8.1.

Basis of Presentation and Disclosure

12 Months Ended

Dec. 31, 2023

Basis of Presentation and Disclosure

2)	BASIS OF PRESENTATION AND DISCLOSURE

The consolidated financial statements as of December 31, 2023 and 2022 and for the years ended December 31, 2023, 2022 and 2021, were prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”).

Cemex adopted Disclosure of Accounting Policies (Amendments to IAS 1) starting January 1, 2023. The amendments require the disclosure of “material” rather than “significant” accounting policies. Accounting policy information is material if, when considered together with other information included in an entity’s financial statements, it can reasonably be expected to influence decisions that the primary users of general-purpose financial statements make on the basis of those financial statements. See note 28 for Cemex’s material accounting policies.

Presentation currency and definition of terms

The consolidated financial statements and the accompanying notes are presented in Dollars of the United States of America (the “United States”), except when specific reference is made to a different currency. When reference is made to “U.S. Dollar,” “Dollar,” “Dollars” or “$” it means Dollars of the United States. All amounts in the financial statements and the accompanying notes are stated in millions, except when references are made to earnings per share and/or prices per share. When reference is made to “Ps” or “Pesos,” it means Mexican Pesos. When reference is made to “€” or “Euros,” it means the currency in circulation in a significant number of European Union (“EU”) countries. When reference is made to “£” or “Pounds,” it means British Pounds sterling. Previously reported Dollar amounts of prior years are restated when the underlying transactions in other currencies remain unsettled using the closing exchange rates as of the reporting date. Amounts reported in Dollars should not be construed as representations that such amounts represented those Dollars or could be converted into Dollars at the rate indicated.

Amounts disclosed in the notes in connection with outstanding tax and/or legal proceedings (notes 20.4 and 25), which are originated in jurisdictions where currencies are different from the Dollar, are presented in Dollar equivalents as of the closing of the most recent year presented. Consequently, without any change in the original currency, such Dollar amounts will fluctuate over time due to changes in exchange rates.

Discontinued operations (note 4.2)

Cemex reports as discontinued operations the disposal of entire geographical reportable operating segments regardless of size, the sale of a considerable portion of a significant reportable operating segment, as well as the sale of a major line of business.

Statements of income

Cemex includes the line item titled “Operating earnings before other expenses, net” considering that it is a subtotal relevant for the determination of Cemex’s “Operating EBITDA” (Operating earnings before other expenses, net plus depreciation and amortization) as described below in this note. The line item of “Operating earnings before other expenses, net” allows for easy reconciliation of the amount in these financial statements under IFRS to the

non-IFRS

measure of Operating EBITDA by adding back depreciation and amortization. The line item “Other expenses, net” consists primarily of revenues and expenses not directly related to Cemex’s main activities or which are of a

non-recurring

nature, including impairment losses of long-lived assets,

non-recurring

sales of emission allowances (note 28.13), results on disposal of assets and restructuring costs, among others (note 7). Under current IFRS, the inclusion of certain subtotals such as “Operating earnings before other expenses, net” and the display of the statement of income vary significantly by industry and company according to specific needs.

Although Operating EBITDA is not a measure of operating performance, an alternative to cash flows or a measure of financial position under IFRS, Operating EBITDA is the financial measure used by Cemex’s chief executive officer to review operating performance and profitability, for decision-making purposes and to allocate resources. Moreover, Operating EBITDA is a measure used by Cemex’s creditors to review its ability to internally fund capital expenditures, to review its ability to service or incur debt and to comply with financial covenants under its financing agreements. Cemex presents “Operating EBITDA” in notes 4.3 (selected financial information by reportable segment and line of business) and 17.1 (Financial instruments—Financial covenants). Cemex’s Operating EBITDA may not be comparable to other similarly titled measures of other companies.

Statements of cash flows

The statements of cash flows exclude the following transactions that did not represent sources or uses of cash:

Financing activities:

•

In 2023, 2022 and 2021, the increases in other financing obligations in connection with lease contracts negotiated during the year for $341, $296 and $227, respectively (note 17.2); and

Investing activities:

•

In 2023, 2022 and 2021, in connection with the leases negotiated during the year, the increases in assets for the

right-of-use

related to lease contracts for $341, $296 and $227, respectively (note 15.2).

Other newly issued IFRS adopted in the reported periods

IFRS 17,

Insurance contracts

(“IFRS 17”)

Beginning January 1, 2023, IFRS 17 replaced IFRS 4,

Insurance contracts

, which sets forth accounting requirements for all contracts in which an entity (the “Issuer”) accepts significant insurance risks from another entity (the “Policyholder”) by agreeing to compensate the Policyholder if a specified uncertain future event (the insured event) adversely affects the Policyholder. IFRS 17 may apply to any contract in which an entity assumes a risk position similar to an Issuer, to the extent that is not being accounted for under other IFRS, such as warranties or residual value guarantees, covered by IFRS 15,

Revenues from contracts with customers

(“IFRS 15”) and IFRS 16,

Leases

(“IFRS 16”), respectively, among others. IFRS 17 does not apply to acquired insurance policies.

Concurrent with the adoption of IFRS 17, Cemex analyzed its several contracts and concluded that: a) it has not issued insurance policies to third-parties; and b) all obligations and contingent obligations arising from another type of contracts are accounted under the relevant IFRS, such as IFRS 15, IFRS 16, IFRS 9,

Financial Instruments

(“IFRS 9”) or IAS 19,

Employee benefits

(“IAS 19”), as applicable.

Others

In addition, beginning January 1, 2023, Cemex adopted prospectively IFRS amendments that did not result in any material impact on its results of operation or financial position, and which are explained as follows:


Standard		Main topic

Amendments to IAS 8, Definition of Accounting Estimates		The amendment makes a distinction between how an entity should present and disclose different types of accounting changes in its financial statements. Changes in accounting policies must be applied retrospectively, while changes in accounting estimates are accounted for prospectively.

Amendments to IAS 12, Income Taxes – Deferred Tax related to Assets and Liabilities arising from a Single Transaction		The amendment clarifies that companies should account for deferred tax assets and liabilities on transactions such as leases and decommissioning obligations. Cemex has always applied these criteria.

Amendments to IFRS 16, Leases – Lease Liability in a Sale and Leaseback		The amendments mentioned that on initial recognition, the seller-lessee would include variable payments when it measures a lease liability arising from a sale-and-leaseback transaction. In addition, the amendments established that the seller-lessee could not recognize gains or losses relating to the right of use it retains after initial recognition.

Cost Of Sales

12 Months Ended

Dec. 31, 2023

TextBlock1Abstract [Abstract]

Cost Of Sales

5)	COST OF SALES

Cost of sales represents the production cost of inventories at the moment of sale. Such cost of sales includes depreciation, amortization and depletion of assets involved in production, expenses related to storage in production plants and freight expenses of raw material in plants and delivery expenses of Cemex’s

ready-mix

concrete business.

The detail of the consolidated cost of sales by nature for the years 2023, 2022 and 2021 is as follows:


		2023		2022		2021
Raw materials and goods for resale	$		5,353		4,916		4,875
Payroll			1,734		1,474		1,349
Electricity, fuels and other services			1,791		1,655		1,174
Depreciation and amortization			1,017		929		934
Maintenance, repairs and supplies			955		809		722
Transportation costs			466		671		573
Other production costs and change in inventory			211		301		116

	$		11,527		10,755		9,743

Statements of Changes in Stockholders' Equity - USD ($) $ in Millions	Total	Common stock [member]	Additional paid-in capital [member]	Other equity reserves and subordinated notes [member]	Retained earnings [member]	Total controlling interest [member]	Non-controlling interests [member]
Balance as of at Dec. 31, 2020	$ 8,952	$ 318	$ 7,575	$ (2,453)	$ 2,635	$ 8,075	$ 877
Net income for the period	778				753	753	25
Other comprehensive income (loss) for the period	(42)			(31)		(31)	(11)
Total of other comprehensive income (loss) for the period	736			(31)	753	722	14
Cancellation of own shares by shareholders' resolution			(83)	83
Issuance of subordinated notes	994			994		994
Changes in non-controlling interest and repayment of perpetual debentures	(447)						(447)
Share-based compensation	77		0	77		77
Coupons paid on subordinated notes and perpetual debentures	(41)			(41)		(41)
Balance as of at Dec. 31, 2021	10,271	318	7,492	(1,371)	3,388	9,827	444
Net income for the period	885				858	858	27
Other comprehensive income (loss) for the period	(93)			(30)		(30)	(63)
Total of other comprehensive income (loss) for the period	792			(30)	858	828	(36)
Cancellation of own shares by shareholders' resolution	(111)
Share-based compensation	47			47		47
Coupons paid on subordinated notes and perpetual debentures	(54)			(54)		(54)
Own shares purchased under share repurchase program	(111)		0	(111)		(111)
Changes in non-controlling interest	0			0		0	0
Shares in trust for future deliveries under share-based compensation	(36)			(36)		(36)
Balance as of at Dec. 31, 2022	10,909	318	7,492	(1,555)	4,246	10,501	408
Net income for the period	199				182	182	17
Other comprehensive income (loss) for the period	207			193		193	14
Total of other comprehensive income (loss) for the period	406			193	182	375	31
Cancellation of own shares by shareholders' resolution	0		(111)	111
Issuance of subordinated notes	992			992		992
Share-based compensation	61			61		61
Coupons paid on subordinated notes and perpetual debentures	(120)			(120)		(120)
Changes in non-controlling interest	(87)			0		0	(87)
Shares in trust for future deliveries under share-based compensation	(45)			(45)		(45)
Balance as of at Dec. 31, 2023	$ 12,116	$ 318	$ 7,381	$ (363)	$ 4,428	$ 11,764	$ 352

Income Taxes - Effective Consolidated Income Tax Rates (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Major components of tax expense (income) [abstract]
Earnings before income tax	$ 1,449	$ 770	$ 954
Income tax	$ (1,250)	$ (209)	$ (137)
Effective consolidated income tax expense rate	86.30%	27.10%	14.40%

The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax. [Refer: Current tax expense (income); Deferred tax expense (income)]

+ References + Details

Commitments - Summary of Contractual Obligations (Parenthetical) (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure of Detailed Information About Borrowings [Line Items]
Future minimum lease payments	$ 1,258
Estimated annual benefit payment period	next ten years	next ten years
1-3 years [Member]
Disclosure of Detailed Information About Borrowings [Line Items]
Future minimum lease payments	$ 325
3-5 Years [Member]
Disclosure of Detailed Information About Borrowings [Line Items]
Future minimum lease payments	185
Later than four years and not later than five years [member] \| Commitement For Digitization Serivces And Solutions [Member] \| Neoris NV [member]
Disclosure of Detailed Information About Borrowings [Line Items]
Annual commitement with vendors value	55
Later than four years and not later than five years [member] \| Commitement With Six Vendors For Back Office Services [Member]
Disclosure of Detailed Information About Borrowings [Line Items]
Annual commitement with vendors value	$ 60

Pensions and Post-Employment Benefits - Additional Information (Detail) $ in Millions	1 Months Ended	12 Months Ended
	Feb. 28, 2021 USD ($)	Dec. 31, 2023 USD ($) Employees	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Disclosure of defined benefit plans [line items]
Costs of defined contribution plans		$ 64	$ 59	$ 54
Projected benefits obligation		2,010	1,903	2,783
Increase (decrease) in net defined benefit liability (asset)		0	13	10
Curtailment gain loss on settlement				1
Actuarial Gains Losses Arising From Changes In Financial Assumptions		(37)	270	196
Actuarial Gains Losses Arising From Changes In Demographic Assumptions		5	2	(20)
Top of range [member]
Disclosure of defined benefit plans [line items]
Increase (decrease) in net defined benefit liability (asset)			96
Actuarial Gains Losses Arising From Changes In Financial Assumptions		16	466	122
Actuarial Gains Losses Arising From Changes In Demographic Assumptions				20
Post employment healthcare benefits [member]
Disclosure of defined benefit plans [line items]
Projected benefits obligation		$ 57	$ 60
Multi-employer defined benefit plans [member] \| Top of range [member] \| Critical [Member]
Disclosure of defined benefit plans [line items]
Percentage of funding based on zone		65.00%
Multi-employer defined benefit plans [member] \| Top of range [member] \| Endangered [Member]
Disclosure of defined benefit plans [line items]
Percentage of funding based on zone		80.00%
Multi-employer defined benefit plans [member] \| Bottom of range [member] \| Green [Member]
Disclosure of defined benefit plans [line items]
Percentage of funding based on zone		80.00%
Other Postretirement Benefits [Member]
Disclosure of defined benefit plans [line items]
Curtailment gain loss on settlement	$ 1
Trinidad Cement Limited [member] \| Maximum [Member]
Disclosure of defined benefit plans [line items]
Medical inflation rates used to determine the projected benefits obligation		9.00%	13.00%
Trinidad Cement Limited [member] \| Minimum [Member]
Disclosure of defined benefit plans [line items]
Medical inflation rates used to determine the projected benefits obligation		5.00%	5.00%
Mexico [member]
Disclosure of defined benefit plans [line items]
Projected benefits obligation		$ 253	$ 220
Medical inflation rates used to determine the projected benefits obligation		8.00%	8.00%
Actuarial Gains Losses Arising From Changes In Financial Assumptions		$ 12	$ 19
Gain on account of reduction of retirement obligations		$ 11
Puerto Rico [member]
Disclosure of defined benefit plans [line items]
Medical inflation rates used to determine the projected benefits obligation		6.60%	5.40%
United Kingdom [member]
Disclosure of defined benefit plans [line items]
Projected benefits obligation		$ 1,129	$ 1,062
Medical inflation rates used to determine the projected benefits obligation		6.60%	6.80%
Increase (decrease) in net defined benefit liability (asset)			$ 77	81
Actuarial Gains Losses Arising From Changes In Financial Assumptions		$ (31)	373	86
Actuarial Gains Losses Arising From Changes In Demographic Assumptions				12
United States [member]
Disclosure of defined benefit plans [line items]
Projected benefits obligation		184	194
Increase (decrease) in net defined benefit liability (asset)				81
Actuarial Gains Losses Arising From Changes In Financial Assumptions		$ 8	52	13
United States [member] \| Multi-employer defined benefit plans [member]
Disclosure of defined benefit plans [line items]
Average number of former employees covered by the contribution \| Employees		422
Percentage of employer contributions		99.00%
United States And United Kingdom [member] \| Multi-employer defined benefit plans [member]
Disclosure of defined benefit plans [line items]
Contribution to the multiemployer plans combined amounts		$ 20	21	17
Estimate of contribution to be made to the plan in the subsequent annual period		21
France [member]
Disclosure of defined benefit plans [line items]
Loss On Account of increase In the retirement obligations due to extension of retirement age		1
Other Countries [member]
Disclosure of defined benefit plans [line items]
Projected benefits obligation		303	293
Actuarial Gains Losses Arising From Changes In Financial Assumptions				23
Germany [member]
Disclosure of defined benefit plans [line items]
Projected benefits obligation		141	134
Increase (decrease) in net defined benefit liability (asset)			$ 13	$ 81
United Kingdom And Germany [Member] \| Top of range [member]
Disclosure of defined benefit plans [line items]
Increase (decrease) in net defined benefit liability (asset)		$ 13

Property, Machinery and Equipment, Net (Detail)	12 Months Ended
Property, Machinery and Equipment, Net (Detail)	Dec. 31, 2023
Administrative buildings [member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful life measured as period of time, property, plant and equipment	30 years
Industrial Buildings [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful life measured as period of time, property, plant and equipment	25 years
Machinery and equipment in plant [member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful life measured as period of time, property, plant and equipment	16 years
Ready-mix trucks and motor vehicles [member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful life measured as period of time, property, plant and equipment	11 years
Office equipment and other assets [member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful life measured as period of time, property, plant and equipment	7 years

Investments In Associates And Joint Ventures, Other Investments And Non-Current Accounts Receivable - Summary of Combined Selected Information of the Statements of Operations (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of associates [line items]
Revenues	$ 17,388	$ 15,577	$ 14,379
Operating earnings	1,849	1,094	1,637
Income before income tax	1,449	770	954
Net income	199	885	778
Associates and Joint Ventures [Member]
Disclosure of associates [line items]
Revenues	2,410	2,319	1,801
Operating earnings	535	398	312
Income before income tax	394	268	219
Net income	$ 268	$ 186	$ 153

The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 7
-IssueDate 2023-01-01
-Paragraph 18
-Subparagraph b
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=7&code=ifrs-tx-2023-en-r&anchor=para_18_b&doctype=Standard
-URIDate 2023-03-23

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 1
-IssueDate 2023-01-01
-Paragraph 32
-Subparagraph a
-Clause ii
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=1&code=ifrs-tx-2023-en-r&anchor=para_32_a_ii&doctype=Standard
-URIDate 2023-03-23

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 1
-IssueDate 2023-01-01
-Paragraph 24
-Subparagraph b
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=1&code=ifrs-tx-2023-en-r&anchor=para_24_b&doctype=Standard
-URIDate 2023-03-23

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2023-01-01
-Paragraph 28
-Subparagraph b
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_28_b&doctype=Standard
-URIDate 2023-03-23

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2023-01-01
-Paragraph 23
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_23&doctype=Standard
-URIDate 2023-03-23

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Name IFRS
-Number 12
-IssueDate 2023-01-01
-Paragraph B10
-Subparagraph b
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2023-en-r&anchor=para_B10_b&doctype=Appendix&subtype=B
-URIDate 2023-03-23

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Name IFRS
-Number 17
-IssueDate 2023-01-01
-Paragraph 113
-Subparagraph b
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=17&code=ifrs-tx-2023-en-r&anchor=para_113_b&doctype=Standard
-URIDate 2023-03-23

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
-IssueDate 2023-01-01
-Paragraph 81A
-Subparagraph a
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_81A_a&doctype=Standard
-URIDate 2023-03-23

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
-IssueDate 2023-01-01
-Paragraph 106
-Subparagraph d
-Clause i
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_106_d_i&doctype=Standard
-URIDate 2023-03-23

Income Taxes

12 Months Ended

Dec. 31, 2023

Income Taxes

20)	INCOME TAXES

20.1)

INCOME TAXES FOR THE PERIOD

The amounts of income tax expense in the statements of income for 2023, 2022 and 2021 are summarized as follows:


		2023		2022		2021
Current income tax expense	$		1,147		170		172
Deferred income tax expense (benefit)			103		39		(35	)

	$		1,250		209		137

20.2)

DEFERRED INCOME TAXES

As of December 31, 2023 and 2022, the main temporary differences that generated the consolidated deferred income tax assets and liabilities are presented below:


		2023			2022
Deferred tax assets:
Tax loss carryforwards and other tax credits	$		445			561
Accounts payable and accrued expenses			883			734
Intangible assets, net			192			140
Others			11			20

Total deferred tax assets, gross			1,531			1,455
Presentation of net position by same legal entity			(1,168	)		(1,044	)

			363			411

Deferred tax liabilities:
Property, machinery and equipment and right-of-use asset, net			(1,470	)		(1,406	)
Investments and other assets			(141	)		(32	)

Total deferred tax liabilities, gross			(1,611	)		(1,438	)
Presentation of net position by same legal entity			1,168			1,044

Total deferred tax liabilities, net in the statement of financial position			(443	)		(394	)

Net deferred tax assets (liabilities)	$		(80	)		17

Out of which:
Net deferred tax assets (liabilities) in Mexican entities	$		67			(17	)
Net deferred tax assets (liabilities) in foreign entities			(147	)		34

Net deferred tax assets (liabilities)	$		(80	)		17

As of December 31, 2023 and 2022, balances of the deferred tax assets and liabilities included in the statement of financial position are located in the following entities:


		2023							2022


		Assets		Liabilities		Net			Assets		Liabilities		Net

Mexican entities	$		185		(118)		67	$		168		(185)		(17)
Foreign entities			178		(325)		(147)			243		(209)		34

	$		363		(443)		(80)	$		411		(394)		17

The breakdown of changes in consolidated deferred income taxes during 2023, 2022 and 2021 was as follows:


		2023			2022		2021

Deferred income tax expense (benefit) in the statement of income	$		103			39		(35)
Deferred income tax (benefit) expense in stockholders’ equity			(6	)		14		(38)
Reclassifications 1			–			7		78

Change in deferred income tax during the period	$		97			60		5

1	In 2022 and 2021, refers to the effects of the reclassification of balances to assets held for sale and related liabilities (note 4.2).

Current and/or deferred income tax relative to items of other comprehensive income during 2023, 2022 and 2021 were as follows:


		2023		2022		2021

Expense (benefit) related to foreign exchange fluctuations from intercompany balances (note 21.2)	$		5		–		(6)
Expense (benefit) associated to actuarial results (note 21.2)			(5)		32		26
Benefit related to derivative financial instruments (note 17.4)			(41)		(30)		(1)
Expense (benefit) from foreign currency translation and other effects			35		12		(63)

	$		(6)		14		(44)

As of December 31, 2023, consolidated tax loss and tax credits carryforwards expire as follows:


		Amount of carryforwards		Amount of unrecognized carryforwards		Amount of recognized carryforwards

2024	$		29		29		–
2025			48		46		2
2026			141		131		10
2027			318		286		32
2028 and thereafter			7,591		5,839		1,752

	$		8,127		6,331		1,796

As of December 31, 2023, in connection with Cemex’s deferred tax loss carryforwards presented in the table above, to realize the benefits associated with such deferred tax assets that have been recognized, before their expiration, Cemex would need to generate $1,796 in consolidated

pre-tax

income in future periods. Based on the same forecasts of future cash flows and operating results used by Cemex’s management to allocate resources and evaluate performance in the countries in which Cemex operates, along with the implementation of feasible tax strategies, Cemex believes that it will recover the balance of its tax loss carryforwards that have been recognized before their expiration. In addition, Cemex concluded that the deferred tax liabilities considered in the analysis of recoverability of its deferred tax assets will reverse in the same period and tax jurisdiction of the related recognized deferred tax assets. Moreover, a certain amount of Cemex’s deferred tax assets refers to operating segments and tax jurisdictions in which Cemex is currently generating taxable income or in which, according to Cemex’s management cash flow projections, will generate taxable income in the relevant periods before the expiration of the deferred tax assets.

The Parent Company does not recognize a deferred income tax liability related to its investments in subsidiaries considering that Cemex controls the reversal of the temporary differences arising from these investments and management is satisfied that such temporary differences will not reverse in the foreseeable future.

20.3)

RECONCILIATION OF EFFECTIVE INCOME TAX RATE

For the years ended December 31, 2023, 2022 and 2021, the effective consolidated income tax rates were as follows:


		2023			2022			2021

Earnings before income tax	$		1,449			770			954
Income tax expense			(1,250	)		(209	)		(137)

Effective consolidated income tax expense rate 1			86.3	%		27.1	%		14.4%

1	The average effective tax rate equals the net amount of income tax benefit or expense divided by income or loss before income taxes, as these line items are reported in the statements of income.


	2023						2022						2021

	%			$			%			$			%			$

Mexican statutory tax rate		30.0			435			30.0			231			30.0			280
Income tax penalties in Spain (note 20.4)		42.8			620			–			–			–			–
Difference between accounting and tax expenses, net 1		0.4			6			35.8			276			4.8			45
Non-taxable sale of equity securities and fixed assets		(1.2	)		(17	)		3.4			26			(3.8	)		(35	)
Difference between book and tax inflation		8.3			120			28.2			217			23.9			223
Differences in the income tax rates in the countries where Cemex operates 2		7.1			103			(6.2	)		(48	)		4.7			44
Changes in deferred tax assets 3		(3.9	)		(57	)		(59.7	)		(460	)		(48.7	)		(454	)
Changes in provisions for uncertain tax positions		0.1			1			(5.1	)		(39	)		2.6			24
Others		2.7			39			0.7			6			0.9			10

Effective consolidated income tax expense rate		86.3			1,250			27.1			209			14.4			137

1	In 2022, it includes $365, related to the effects of the impairment charges during the period which are basically non-deductible (note 7).

2	Refers mainly to the effects of the differences between the statutory income tax rate in Mexico of 30% and the applicable income tax rates of each country where Cemex operates. In 2021, it includes the effect related to the change in statutory tax rate in Colombia from 30% to 35%.

3	Refers to the effects in the effective income tax rate associated with changes during the period in the amount of deferred income tax assets related to Cemex’s tax loss carryforwards.


		2023				2022

		Changes in the statement of financial position		Amounts in reconciliation		Changes in the statement of financial position		Amounts in reconciliation

Tax loss carryforwards generated and not recognized during the year	$		–		45		–		38
Derecognition related to tax loss carryforwards recognized in prior years			(125)		–		(103)		–
Recognition related to unrecognized tax loss carryforwards			12		(105)		16		(498)
Foreign currency translation and other effects			(3)		3		(14)		–

Changes in deferred tax assets	$		(116)		(57)		(101)		(460)

20.4)

UNCERTAIN TAX POSITIONS AND SIGNIFICANT TAX PROCEEDINGS

Uncertain tax positions

As of December 31, 2023 and 2022, as part of current provisions and

non-current

other liabilities (note 18), Cemex has recognized provisions related to unrecognized tax benefits in connection with uncertain tax positions taken, in which it is deemed probable that the tax authorities would differ from the position adopted by Cemex. As of December 31, 2023, the tax returns submitted by some subsidiaries of Cemex located in several countries are under review by the respective tax authorities in the ordinary course of business. Cemex cannot anticipate if such reviews will result in new tax assessments, which would, should any arise, be appropriately disclosed and/or recognized in the financial statements.

A summary of the beginning and ending amount of unrecognized tax benefits for the years ended December 31, 2023, 2022 and 2021, excluding interest and penalties, is as follows:


		2023			2022			2021

Balance of tax positions at beginning of the period	$		41			48			27
Additions for tax positions of prior periods			34			5			4
Additions for tax positions of current period			3			5			27
Reductions for tax positions related to prior periods and other items			(1	)		(11	)		(2)
Settlements and reclassifications			–			(4	)		(5)
Expiration of the statute of limitations			(2	)		(2	)		(2)
Foreign currency translation effects			3			–			(1)

Balance of tax positions at end of the period	$		78			41			48

Tax examinations can involve complex issues, and the resolution of issues may span multiple years, particularly if subject to negotiation or litigation. Although Cemex believes its estimates of the total unrecognized tax benefits are reasonable, uncertainties regarding the final determination of income tax audit settlements and any related litigation could affect the amount of total unrecognized tax benefits in future periods. It is difficult to estimate the timing and range of possible changes related to uncertain tax positions, as finalizing audits with the tax authorities may involve formal administrative and legal proceedings. Accordingly, it is not possible to reasonably estimate the expected changes to the total unrecognized tax benefits over the next 12 months, although any settlements or statute of limitations expirations may result in a significant increase or decrease in the total unrecognized tax benefits, including those positions related to tax examinations being currently conducted.

Significant tax proceedings

As of December 31, 2023, the Company’s most significant tax proceedings are as follows:

•

The tax authorities in Spain (“the Spanish Tax Authorities”) challenged part of the tax loss carryforwards reported by Cemex España, S.A. (“Cemex España”) covering the tax years from and including 2006 to 2009. During 2013, the Spanish Tax Authorities notified Cemex España of fines for an aggregate amount of $503 as of December 31, 2023, even though Cemex España did not utilize these losses, and since 2012, were not recognized in the financial statements of Cemex España. After several processes, reviews and appeals with a variety of authorities over the years, on November 13, 2023, the Supreme Court of Spain resolved a cassation appeal against Cemex España. As a result, once Cemex España is formally notified about the payment obligation, Cemex España will have to pay the described fines. As of December 31, 2023, Cemex España expects to pay the fines during 2024. Cemex España disagrees with the resolution and is evaluating the next steps, including the potential filing of an appeal with the Constitutional Court in Spain. For the year 2023, Cemex recognized an income tax expense and accrued a provision for $503, based on its estimate, and expects to settle the liability during the first half of 2024. Cemex has liquidity sources available to meet this obligation.

•

On March 26, 2021, the Spanish Tax Authorities notified Cemex España of an assessment for income taxes in an amount in Euros equivalent to $53 as of December 31, 2023, plus late interest, derived from a tax audit process covering the tax years 2010 to 2014. This assessment was appealed before the

Tribunal Econ

mico Administrativo Central

(“TEAC”). For the suspension of the payment of the tax assessment to be granted, Cemex España provided a payment guarantee which was approved by such tax authorities. Moreover, on December 3, 2021, the Spanish Tax Authorities notified Cemex España of a penalty for an amount in Euros equivalent to $75, derived from the tax audit process covering the same period from 2010 to 2014. This assessment was appealed before the TEAC. On December 11, 2023, Cemex España received a partial resolution from the TEAC and is evaluating whether or not to file an appeal before Audiencia Nacional. As of December 31, 2023, Cemex recognized an additional tax expense and accrued a liability of $117, based on its estimate.

•

In connection with the tax return for the year 2012, the Colombian Tax Authority (the “Colombian Tax Authority”) assessed an increase in the income tax payable by Cemex Colombia S.A. (“Cemex Colombia”) and imposed an inaccuracy penalty for amounts in Colombian Pesos equivalent to $32 of income tax and $32 of penalty. After several procedures and appeals, in 2021, Cemex Colombia filed an appeal in the Administrative Court of Cundinamarca. If the proceeding is adversely resolved in the final stage, Cemex Colombia must pay the amounts determined in the official settlement plus interest accrued on the amount of the income tax adjustment until the payment date. As of December 31, 2023, Cemex considers that an adverse resolution in this proceeding after the conclusion of all available defense procedures is not probable, however, it is difficult to assess with certainty the likelihood of an adverse result in the proceeding. If adversely resolved, Cemex believes this proceeding could have a material adverse impact on the operating results, liquidity or financial position of Cemex.

•

In connection with the tax return for the year 2011, the Colombian Tax Authority notified Cemex Colombia of a proceeding in which it rejected certain deductions and determined an increase in the income tax payable and imposed a penalty for amounts in Colombian Pesos equivalent to $22 of income tax and $22 of penalty. After several procedures and appeals, in 2020, the Colombian Tax Authority confirmed the claims of the official liquidation, and this was then appealed in the Administrative Court of Cundinamarca. If the proceeding is adversely resolved in its final stage, Cemex Colombia would have to pay the amounts determined in the official settlement plus interest accrued on the amount of the income tax adjustment until the date of payment. As of December 31, 2023, Cemex considers that an adverse resolution in this proceeding after the conclusion of all available defense procedures is not probable, however, it is difficult to assess with certainty the likelihood of an adverse result in the proceeding. If adversely resolved, Cemex believes this proceeding could have a material adverse impact on the operating results, liquidity or financial position of Cemex.

Stockholders' Equity - Summary of Other Equity Reserves (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure of reserves within equity [abstract]
Cumulative translation effect, tax effects from deferred income taxes recognized directly in equity (note 20.2) and derivative financial instruments designated as cash flow hedges	$ (672)	$ (926)
Cumulative actuarial losses	(398)	(353)
Cumulative coupon payments under perpetual debentures (note 21.4)	(1,070)	(1,070)
Cumulative coupon payments under subordinated notes	(204)	(84)
Cancellation of treasury shares by shareholders' resolution (note 21.1)	0	(111)
Other effects	(5)	(5)
Other equity reserves	$ (2,349)	$ (2,549)

Investments In Associates And Joint Ventures, Other Investments And Non-Current Accounts Receivable - Summary of Other Investments and Non-current Accounts Receivable (Parenthetical) (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Miscellaneous non-current assets [abstract]
Accounts receivable from investees and joint ventures	$ 78	$ 33
Advances to suppliers of fixed assets	41	58
Employee prepaid compensation	8	12
Warranty deposits	$ 24	$ 21

Stockholders' Equity

12 Months Ended

Dec. 31, 2023

Stockholders' Equity

21)	STOCKHOLDERS’ EQUITY

The consolidated financial statements are presented in Dollars based on IAS 21,

The Effects of Changes in Foreign Exchange Rates

(“IAS 21”), while the reporting currency of the Parent Company is the Peso. As a result, for the consolidated entity, transactions of common stock, additional

paid-in

capital and retained earnings are translated and accrued using historical exchange rates of the dates on which the transactions occurred. As a result, although the amounts of total

non-controlling

interest in the consolidated financial statements and total stockholders’ equity of the Parent Company are the same, IAS 21 methodology results in differences between

line-by-line

items within Cemex’s controlling interest and the Parent Company’s stockholders’ equity. The official stockholders’ equity for statutory purposes is that of the Parent Company as expressed in Pesos. As of December 31, 2023, the

line-by-line


		As of December 31, 2023

		Consolidated			Parent Company

Common stock and additional paid-in capital 1	$		7,699			6,086
Other equity reserves 1, 2			(363	)		1,576
Retained earnings 2			4,428			4,102

Total controlling interest	$		11,764			11,764

The difference relates to the method of accruing Dollars using the historical exchange rates to translate each common stock and additional

paid-in

capital transaction denominated in Pesos to Dollars. The cumulative effect of these changes in exchange rates is recognized against other equity reserves.

2	The difference relates to the method of accruing Dollars using the exchange rates of each month during the period for statement of income purposes. The cumulative effect of these changes in exchange rates is recognized against other equity reserves.

As of December 31, 2023 and 2022, stockholders’ equity excludes investments in CPOs of the Parent Company held by subsidiaries of $16 (20,541,277 CPOs) and $8 (20,541,277 CPOs), respectively, which were eliminated within “Other equity reserves.”

21.1)

COMMON STOCK AND ADDITIONAL

PAID-IN

CAPITAL

As of December 31, 2023 and 2022, the breakdown of consolidated common stock and additional

paid-in

capital was as follows:


		2023		2022

Common stock	$		318		318
Additional paid-in capital			7,381		7,492

	$		7,699		7,810

As of December 31, 2023 and 2022, the common stock of Cemex, S.A.B. de C.V. was presented as follows:


	2023				2022

Shares 1	Series A 2		Series B 2		Series A 2		Series B 2

Subscribed and paid shares		29,016,656,496		14,508,328,248		29,016,656,496		14,508,328,248
Unissued shares authorized for executives’ stock compensation programs		881,442,830		440,721,415		881,442,830		440,721,415
Repurchased shares 3		–		–		441,284,956		220,642,478

		29,898,099,326		14,949,049,663		30,339,384,282		15,169,692,141

1	As of December 31, 2023 and 2022, 13,068,000,000 shares correspond to the fixed portion, and 31,779,148,989 shares in 2023 and 32,441,076,423 shares in 2022 correspond to the variable portion.

2	Series “A” or Mexican shares must represent at least 64% of Cemex, S.A.B. de C.V.’s capital stock; Series “B” or free subscription shares must represent at most 36% of Cemex, S.A.B. de C.V.’s capital stock.

3	Shares repurchased under the share repurchase program authorized by the Parent Company’s shareholders (note 21.2).

On March 23, 2023, stockholders at the general ordinary shareholders’ meeting of Cemex, S.A.B. de C.V. approved: (a) to set the amount of $500 or its equivalent in Pesos, as the maximum amount of resources that during fiscal year 2023, and until the next general ordinary shareholders’ meeting is held, Cemex, S.A.B. de C.V. may use for the acquisition of its own shares or securities that represent such shares; (b) authorize the Parent Company’s Board of Directors to determine the bases on which the acquisition and placement of said shares shall be instructed, designate the persons that shall make the decisions to acquire or place them, appoint those responsible for carrying out the transaction and giving the corresponding notices to the authorities; and (c) to decrease Cemex, S.A.B. de C.V.’s capital stock, in its variable part, through the cancellation of 662 million of own, ordinary, nominative and without nominative value expression shares, which were acquired through the share buyback program in fiscal year 2022.

On March 24, 2022, stockholders at the general ordinary shareholders’ meeting of Cemex, S.A.B. de C.V. approved: (a) setting an amount of $500 or its equivalent in Pesos as the maximum amount of resources through the year 2022 and until the next general ordinary shareholders’ meeting of the Parent Company that Cemex, S.A.B. de C.V. may use for the acquisition of its own shares or securities that represent such shares; (b) authorize the Parent Company’s Board of Directors to determine the bases on which the acquisition and placement of any such shares shall be instructed, designate the persons that shall make the decisions to acquire or place them, appoint those responsible for carrying out the transaction and giving the corresponding notices to the authorities; and (c) designation of the members of Cemex, S.A.B. de C.V.’s Board of Directors, as well as members of the Audit, Corporate Practices and Finance, and Sustainability Committees.

On March 25, 2021, stockholders at the general ordinary shareholders’ meeting of Cemex, S.A.B. de C.V. approved: (a) setting the amount of $500 or its equivalent in Pesos as the maximum amount of resources through year 2021 and until the next general ordinary shareholders’ meeting of the Parent Company is held for the acquisition of its own shares or securities that represent such shares; (b) the decrease of the variable part of the Parent Company’s share capital through the cancellation of (i) 1,134 million shares repurchased during the 2020 fiscal year, under the share repurchase program and (ii) an aggregate of 3,409.5 million shares that were authorized to guarantee the conversion of then existing convertible securities, as well as for any new issuance of convertible securities and/or to be subscribed and paid for in a public offering or private subscription; and (c) the appointment of the members of the Board of Directors, the Audit Committee, the Corporate Practices and Finance Committee (which reduced its members from four to three) and the Sustainability Committee of the Parent Company.

In 2023 and 2022, Cemex, S.A.B. de C.V. did not issue shares in connection with its executive share-based compensation programs (note 22).

21.2)

OTHER EQUITY RESERVES AND SUBORDINATED NOTES

As of December 31, 2023 and 2022, the caption of other equity reserves and subordinated notes was integrated as follows:


		2023			2022

Other equity reserves	$		(2,349	)		(2,549)
Subordinated notes			1,986			994

	$		(363	)		(1,555)

Other equity reserves

As of December 31, 2023 and 2022, other equity reserves are detailed as follows:


		2023			2022

Cumulative translation effect, tax effects from deferred income taxes recognized directly in equity (note 20.2) and derivative financial instruments designated as cash flow hedges	$		(672	)		(926)
Cumulative actuarial losses			(398	)		(353)
Cumulative coupon payments under perpetual debentures (note 21.4)			(1,070	)		(1,070)
Cumulative coupon payments under subordinated notes			(204	)		(84)
Cancellation of treasury shares by shareholders’ resolution (note 21.1)			–			(111)
Other effects			(5	)		(5)

	$		(2,349	)		(2,549)

For the years ended December 31, 2023, 2022 and 2021, the translation effects of foreign subsidiaries included in the statements of comprehensive income were as follows:


		2023			2022			2021

Foreign currency translation result 1	$		356			(235	)		(476)
Foreign exchange fluctuations from debt 2			(28	)		(23	)		89
Foreign exchange fluctuations from intercompany balances 3			(73	)		(68	)		(13)

	$		255			(326	)		(400)

1	These effects refer to the result from the translation of the financial statements of foreign subsidiaries and include the changes in the fair value of foreign exchange forward contracts designated as a hedge of a net investment (note 17.4).

2	Generated by foreign exchange fluctuations over a notional amount of debt in Cemex, S.A.B. de C.V., associated with the acquisition of foreign subsidiaries and designated as a hedge of the net investment in foreign subsidiaries (note 28.3).

Subordinated notes

On March 14, 2023, the Parent Company issued one series of $1,000 of its 9.125% subordinated notes (the “2023 Subordinated Notes”). After issuance costs, the Parent Company received $992. The 2023 Subordinated Notes are aligned with the GFF and the net proceeds obtained in the issuance should be applied to finance, in whole or in part, one or more new or existing Eligible Green Projects (“EGPs”) under its

use-of-proceeds

Green Financing Framework (the “GFF”). EGPs include those related to pollution prevention and control, renewable energy, energy efficiency, clean transportation, sustainable water and wastewater management, and

eco-efficient

and/or circular economy adapted products, production technologies and processes.

On June 8, 2021, the Parent Company issued $1,000 of its 5.125% subordinated notes (the “2021 Subordinated Notes”). After issuance costs, the Parent Company received $994. The net proceeds obtained were used to repurchase in full the balance then outstanding of perpetual debentures issued by subsidiaries (note 21.4) and the repayment of debt.

Under the 2023 Subordinated Notes and the 2021 Subordinated Notes (jointly the “Subordinated Notes”), which do not have a maturity or repayment date or mandatory redemption date, interest may be deferred indefinitely at the sole discretion of the Parent Company. In addition, the Subordinated Notes: (i) are not redeemable at the option of the holders of the Subordinated Notes (the “Noteholders”), (ii) do not have the benefit of standard debt covenants, and (iii) do not include an event of default relating to a payment or covenant default with respect to any indebtedness of Cemex. Moreover, the Parent Company is in control of all instances that may lead to the repayment of the Subordinated Notes, including Cemex’s repurchase option on the fifth anniversary of each issuance, the specific redemption events as well as those under a reorganization or bankruptcy event under the applicable laws. In the hypothetical event of liquidation of the Parent Company, the Noteholders would have a claim on any residual net assets available after all liabilities have been settled; therefore, the Noteholders have no assurance of collecting the principal amounts of the Subordinated Notes or any deferred accrued interest, if any.

Based on the above characteristics of the Subordinated Notes, included in contractual terms that are considered to be substantive, and legal considerations, under IAS 32,

Financial Instruments: Presentation

(“IAS 32”), Cemex concluded that the Subordinated Notes represent equity instruments and are classified within controlling interest stockholders’ equity. The classification as equity of the Subordinated Notes can be summarized as follows:

•

The Subordinated Notes do not meet the definition of financial liability under IAS 32 considering that they include no contractual obligation: (i) to deliver cash or another financial asset to another entity; or (ii) to exchange financial assets or financial liabilities with another entity under conditions that are potentially unfavorable to the issuer. This is because:

◾

The Noteholders have agreed to the deferral of interest and principal, given that, the Parent Company has the unilateral and unconditional right to perpetually defer the payment of principal and interest;

◾

The Parent Company controls at all times any payments to be made to the Noteholders, even in the event of bankruptcy under either the laws of Mexico (

Ley de Concursos Mercantiles

) or U.S. bankruptcy laws (Chapter 11); and

◾

The Subordinated Notes contractually evidence a residual interest in the assets of the Parent Company after deducting all of its liabilities. The only requirement to settle the Notes would be in liquidation, which is akin to an equity instrument under IAS 32.

Coupon payments on the Subordinated Notes were included within “Other equity reserves” and amounted to $120 in 2023, $54 in 2022 and $30 in 2021.

21.3)

RETAINED EARNINGS

The Parent Company’s net income for the year is subject to a 5% allocation toward a legal reserve until such reserve equals

one-fifth

of the common stock. As of December 31, 2023, the legal reserve amounted to $106.

21.4)

NON-CONTROLLING

INTEREST AND PERPETUAL DEBENTURES

Non-controlling

interest

Non-controlling

interest represents the share of

non-controlling

stockholders in the equity and results of consolidated subsidiaries. As of December 31, 2023 and 2022,

non-controlling

interest in equity amounted to $351 and $408, respectively. In 2023, 2022 and 2021,

non-controlling

interests in consolidated net income were $17, $27 and $25, respectively. These

non-controlling

interests arise mainly from the following Cemex’s subsidiaries:

•

In February 2017, Cemex acquired a controlling interest in TCL, whose shares trade in the Trinidad and Tobago Stock Exchange. As of December 31, 2023 and 2022, there is a

non-controlling

interest in TCL of 30.17% of its common shares (see note 4.3 for certain relevant condensed financial information).

•

As of December 31, 2023 and 2022, there was a

non-controlling

interest in CHP of 10.14% and 22.10% of its ordinary shares, respectively. CHP’s assets consist primarily of Cemex’s cement manufacturing assets in the Philippines. In 2023, by means of a voluntary tender offer, Cemex Asian South East Corporation (“CASEC”), an indirect subsidiary of Cemex, S.A.B. de C.V., acquired 1,614 million shares of CHP.

•

Until June 2023, after the conclusion of a tender offer and delisting process, Cemex Latam Holdings, S.A. (“CLH”), traded its ordinary shares on the Colombian Stock Exchange. CLH is the indirect holding company of Cemex’s operations in Colombia, Panama, Guatemala and Nicaragua, and until August 31, 2022, of the operations in Costa Rica and El Salvador. As of December 31, 2023 and 2022, there was a

non-controlling

interest in CLH of 0.50% and 4.70% of its ordinary shares, respectively, excluding shares held in CLH’s treasury.

Perpetual debentures

In June 2021, considering the issuance of the 2021 Subordinated Notes described above, Cemex repurchased its then outstanding perpetual debentures of $449. Cemex’s perpetual debentures had no fixed maturity date and there were no contractual obligations for Cemex to exchange any series of its outstanding perpetual debentures for financial assets or financial liabilities. As a result, these debentures, issued by consolidated entities, qualified as equity instruments under IAS 32 and were classified within

non-controlling

interest. Cemex had the unilateral right to defer indefinitely the payment of interest due on the debentures.

Until their repurchase, coupon payments on the perpetual debentures were included within “Other equity reserves” and amounted to $11 in 2021.

Investments In Associates And Joint Ventures, Other Investments And Non-Current Accounts Receivable - Summary of Combined Condensed Statement of Financial Position (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Disclosure of associates [line items]
Current assets	$ 5,005	$ 4,526
Non-current assets	23,428	21,921
Total assets	28,433	26,447
Current liabilities	6,786	5,546
Non-current liabilities	9,531	9,992
Total liabilities	16,317	15,538
Total net assets	12,116	10,909
Associates and Joint Ventures [Member]
Disclosure of associates [line items]
Current assets	1,761	1,603
Non-current assets	1,877	1,699
Total assets	3,638	3,302
Current liabilities	468	468
Non-current liabilities	850	774
Total liabilities	1,318	1,242
Total net assets	$ 2,320	$ 2,060

Earnings (Loss) Per Share - Summary of Calculations of Earnings per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Earnings per share [abstract]
Weighted-average number of shares outstanding – basic	43,510,758	43,554,921	44,123,654
Effect of dilutive instruments – share-based compensation (note 22)	599,229	793,322	729,292
Weighted-average number of shares – diluted	44,109,987	44,348,243	44,852,946
Numerator
Net income from continuing operations	$ 199	$ 561	$ 817
Less: non-controlling interest net income	17	27	25
Controlling interest net income from continuing operations	182	534	792
Net income (loss) from discontinued operations	$ 0	$ 324	$ (39)
Basic earnings (loss) per share
Controlling interest basic earnings per share	$ 0.0042	$ 0.0197	$ 0.0171
Controlling interest basic earnings per share from continuing operations	0.0042	0.0123	0.018
Controlling interest basic earnings (loss) per share from discontinued operations	0	0.0074	(0.0009)
Controlling interest diluted earnings (loss) per share
Controlling interest diluted earnings per share	0.0041	0.0193	0.0168
Controlling interest diluted earnings per share from continuing operations	0.0041	0.012	0.0177
Controlling interest diluted earnings (loss) per share from discontinued operations	$ 0	$ 0.0073	$ (0.0009)

Financial Instruments - Summary of Changes in Consolidated Debt (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of detailed information about financial instruments [abstract]
Debt at beginning of year	$ 6,971	$ 7,379	$ 9,339
Proceeds from new debt instruments	2,938	2,006	3,960
Debt repayments	(3,840)	(2,420)	(5,897)
Foreign currency translation and accretion effects	159	6	(23)
Debt at end of year	$ 6,228	$ 6,971	$ 7,379

Inventories - Summary of Consolidated Balance of Inventories (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Classes of current inventories [abstract]
Materials and spare parts	$ 537	$ 563
Finished goods	461	406
Raw materials	370	329
Work-in-process	330	284
Inventory in transit	91	87
Current inventories	$ 1,789	$ 1,669

Income Taxes - Schedule of Unrecognized Tax Benefits (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Deferred tax assets and liabilities [abstract]
Balance of tax positions at beginning of the period	$ 41	$ 48	$ 27
Additions for tax positions of prior periods	34	5	4
Additions for tax positions of current period	3	5	27
Reductions for tax positions related to prior periods and other items	(1)	(11)	(2)
Settlements and reclassifications	0	(4)	(5)
Expiration of the statute of limitations	(2)	(2)	(2)
Foreign currency translation effects	3	0	(1)
Balance of tax positions at end of the period	$ 78	$ 41	$ 48

Material Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2023

Explanatory Description Of Accounting Policy for Basis of Presentation and Disclosure

2)	BASIS OF PRESENTATION AND DISCLOSURE

Presentation currency and definition of terms

Discontinued operations (note 4.2)

Statements of income

non-IFRS

non-recurring

nature, including impairment losses of long-lived assets,

non-recurring

Statements of cash flows

The statements of cash flows exclude the following transactions that did not represent sources or uses of cash:

Financing activities:

•

In 2023, 2022 and 2021, the increases in other financing obligations in connection with lease contracts negotiated during the year for $341, $296 and $227, respectively (note 17.2); and

Investing activities:

•

In 2023, 2022 and 2021, in connection with the leases negotiated during the year, the increases in assets for the

right-of-use

related to lease contracts for $341, $296 and $227, respectively (note 15.2).

Other newly issued IFRS adopted in the reported periods

IFRS 17,

Insurance contracts

(“IFRS 17”)

Beginning January 1, 2023, IFRS 17 replaced IFRS 4,

Insurance contracts

Revenues from contracts with customers

(“IFRS 15”) and IFRS 16,

Leases

(“IFRS 16”), respectively, among others. IFRS 17 does not apply to acquired insurance policies.

Financial Instruments

(“IFRS 9”) or IAS 19,

Employee benefits

(“IAS 19”), as applicable.

Others


Standard		Main topic

Amendments to IAS 8, Definition of Accounting Estimates		The amendment makes a distinction between how an entity should present and disclose different types of accounting changes in its financial statements. Changes in accounting policies must be applied retrospectively, while changes in accounting estimates are accounted for prospectively.

Amendments to IAS 12, Income Taxes – Deferred Tax related to Assets and Liabilities arising from a Single Transaction		The amendment clarifies that companies should account for deferred tax assets and liabilities on transactions such as leases and decommissioning obligations. Cemex has always applied these criteria.

Amendments to IFRS 16, Leases – Lease Liability in a Sale and Leaseback		The amendments mentioned that on initial recognition, the seller-lessee would include variable payments when it measures a lease liability arising from a sale-and-leaseback transaction. In addition, the amendments established that the seller-lessee could not recognize gains or losses relating to the right of use it retains after initial recognition.

Principles of Consolidation

28.1)

PRINCIPLES OF CONSOLIDATION

The consolidated financial statements include those of Cemex, S.A.B. de C.V. and those of all controlled entities. Balances and operations between related parties are eliminated in consolidation.

Use of Estimates and Critical Assumptions

28.2)

USE OF ESTIMATES AND CRITICAL ASSUMPTIONS

Foreign Currency Transactions and Translation of Foreign Currency Financial Statements

28.3)

FOREIGN CURRENCY TRANSACTIONS AND TRANSLATION OF FOREIGN CURRENCY FINANCIAL STATEMENTS


	2023				2022				2021

Currency	Closing		Average		Closing		Average		Closing		Average

Peso		16.9700		17.6300		19.5000		20.0274		20.5000		20.4266
Euro		0.9059		0.9227		0.9344		0.9522		0.8789		0.8467
British Pound Sterling		0.7852		0.8019		0.8266		0.8139		0.7395		0.7262
Colombian Peso		3,822		4,272		4,810		4,277		3,981		3,783

Financial Instruments

28.4)

FINANCIAL INSTRUMENTS

Classification and measurement of financial instruments

•

Cash and cash equivalents (note 9).

•

Investments and

non-current

accounts receivable (note 14.2). Subsequent changes in effects from amortized cost are recognized in the statement of income as part of “Financial income and other items, net.”

Hedging instruments (note 17.4)

non-performance

of the obligations agreed to by such counterparties to be minimal.

Impairment of financial assets

country-by-country

Costs incurred in the issuance of debt or borrowings

Direct costs incurred in debt issuances or borrowings, as well as debt refinancing or

non-substantial

modifications

Leases (notes 15 and 17.2)

right-of-use,

Cemex does not separate the

non-lease

low-value

assets and recognizes the lease payment of these leases as rental expense in the statement of income over the lease term. Cemex defined the lease contracts for office and computer equipment as

low-value

assets.

in-substance

fixed lease payment. When the lease liability is remeasured, an adjustment is made to the carrying amount of the asset for the

right-of-use

or is recognized within “Financial income and other items, net” if such asset has been reduced to zero.

Embedded derivative financial instruments

Property, Machinery And Equipment And Assets For The Right-Of-Use (note 15)

28.5)

PROPERTY, MACHINERY AND EQUIPMENT AND ASSETS FOR THE

RIGHT-OF-USE

(note 15)

units-of-production

method. Periodic maintenance of fixed assets is expensed as incurred. Advances to suppliers of fixed assets are presented as part of other long-term accounts receivable.

Assets for the

right-of-use

are generally depreciated using the straight-line method from the commencement date to the end of the lease term. Assets for the

right-of-use

may be reduced by impairment losses, if any, and adjusted for certain remeasurements of the lease liability.

Business Combinations, Goodwill And Other Intangible Assets (notes 4.1 and 16)

28.6)

BUSINESS COMBINATIONS, GOODWILL AND OTHER INTANGIBLE ASSETS (notes 4.1 and 16)

units-of-production

method and/or as otherwise indicated, Cemex’s intangible assets are amortized on a straight-line basis over their useful lives that range on average from 3 to 20 years.

Impairment of Long-lived Assets (notes 15 and 16)

28.7)

IMPAIRMENT OF LONG-LIVED ASSETS (notes 15 and 16)

Property, machinery and equipment, assets for the

right-of-use,

intangible assets of definite life and other investments

Goodwill

Provisions (notes 18, 24 and 25)

28.8)

PROVISIONS (notes 18, 24 and 25)

non-current

liabilities and provisions are detailed in note 25.1.

Pensions and Other Post-Employment Benefits (note 19)

28.9)

PENSIONS AND OTHER POST-EMPLOYMENT BENEFITS (note 19)

Defined contribution pension plans

Defined benefit pension plans and other post-employment benefits

Termination benefits

Income Taxes (note 20)

28.10)

INCOME TAXES (note 20)

Deferred income taxes

Deferred tax assets are reviewed at each reporting date and are derecognized when it is not deemed probable that the related tax

benefit

Uncertain tax positions

Effective income tax rate

For the years ended December 31, 2023, 2022 and 2021, the statutory tax rates in Cemex’s main operations were as follows:


Country	2023	2022	2021
Mexico	30.0%	30.0%	30.0%
United States	21.0%	21.0%	21.0%
United Kingdom	23.5%	19.0%	19.0%
France	25.8%	25.8%	28.4%
Germany	28.2%	28.2%	28.2%
Spain	25.0%	25.0%	25.0%
Philippines	25.0%	25.0%	25.0%
Israel	23.0%	23.0%	23.0%
Colombia	35.0%	35.0%	31.0%
Others	5.5% – 30.0%	5.5% – 30.0%	5.5% – 30.0%

Global minimum tax

Co-operation

and Development (“OECD”), as approved by the Inclusive Framework. Groups with an effective tax rate below the minimum in any particular jurisdiction would be required to pay

top-up

Top-up

Tax is in effect, in which case, any

top-up

tax would be paid in such jurisdiction. Cemex is currently analyzing Pillar Two implementation and preliminarily considers that effects will not be significant.

Stockholders' Equity

28.11)

STOCKHOLDERS’ EQUITY

Other equity reserves and subordinated notes (note 21.2)

The most significant items within “Other equity reserves and subordinated notes” during the reported periods are as follows:

Items of “Other equity reserves and subordinated notes” included within other comprehensive income:

•

non-current

investment class (note 28.3);

•

Changes in fair value of other investments in strategic securities (note 28.4); and

•

Current and deferred income taxes during the period arising from items whose effects are directly recognized in stockholders’ equity.

Items of “Other equity reserves and subordinated notes” not included in comprehensive income:

•

Effects related to controlling stockholders’ equity for changes or transactions affecting

non-controlling

interest stockholders in Cemex’s consolidated subsidiaries;

•

The balance of Subordinated Notes with no fixed maturity and any interest accrued thereof; and

•

The cancellation of the Parent Company’s shares held by consolidated entities.

Executive Share-Based Compensation (note 22)

28.12)

EXECUTIVE SHARE-BASED COMPENSATION (note 22)

Allowances Related To Emissions Of CO2

28.13)

ALLOWANCES RELATED TO EMISSIONS OF CO

. Entities in turn, must submit to such environmental authorities at the end of the compliance period, Allowances for a volume equivalent to the tons of CO

released. Companies must buy additional Allowances to meet deficits between actual CO

As of December 31, 2023, according to management estimates (unaudited), Cemex held excess Allowances received for no

consideration

in prior years sufficient to allow the Company offsetting CO

Cemex accounts for the effects associated with CO

emission reduction mechanisms as follows:

•

Certificates received through government grants for no consideration paid are recognized at zero cost in the statement of financial position.

•

Revenues received from the sale of excess Allowances are recognized in the statement of income in the period in which they occur.

•

Allowances that would be acquired to hedge exceeding CO

emissions would be recognized as intangible assets at cost and would be further amortized to the cost of sales during the compliance period.

•

Cemex would accrue a provision at market value against the cost of sales when current emissions of CO

would exceed the number of emission rights on hand and the required additional Allowances would not be yet acquired in the market.

•

In addition, in certain countries, the environmental authorities impose levies per ton of CO

or other greenhouse gases released. Such expenses are recognized as part of the cost of sales as incurred.

Concentration of Credit

28.14)

CONCENTRATION OF CREDIT

Newly Issued IFRS Not Yet Adopted

28.15)

NEWLY ISSUED IFRS NOT YET ADOPTED

There are several amendments or new IFRS issued but not yet effective which are un

der analysis and the Compa


Standard	Main topic	Effective date

Amendments to IAS 7, Statement of Cash Flows and IFRS 7, Financial Instruments: Disclosures – Supplier Finance Arrangements	The amendment requires entities to provide additional disclosures about their supplier finance arrangements to provide users of financial statements with information about: a) how such arrangements affect an entity’s liabilities and cash flows; and b) to understand their effect on an entity’s exposure to liquidity risk and how the entity might be affected if the arrangements were no longer available.	January 1, 2024

Amendments to IAS 1, Presentation of Financial Statements – Non-current liabilities with covenants	The amendments improve information an entity provides when its right to defer settlement of liabilities for at least twelve months is subject to compliance with covenants.	January 1, 2024

Amendments to IFRS 16, Leases – Lease liability in a sale and leaseback	The amendments mentioned that on initial recognition, the seller-lessee would include variable payments when it measures a lease liability arising from a sale-and-leaseback transaction. In addition, the amendments established that the seller-lessee could not recognize gains or losses relating to the right of use it retains after initial recognition.	January 1, 2024

Amendments to IAS 1, Presentation of Financial Statements	Clarifies the requirements to be applied in classifying liabilities as current and non-current.	January 1, 2024

Amendments to IAS 21, The Effects of Changes in Foreign Exchange Rates – Lack of Exchangeability	The amendments require an entity to apply a consistent approach to assessing whether a currency is exchangeable into another currency and when it is not, to determine the exchange rate to use and the disclosures to provide.	January 1, 2025

Earnings (Loss) Per Share - Summary of Calculations of Earnings per Share (Parenthetical) (Detail) - CEMEX Holdings Philippines Inc [member] shares in Thousands	12 Months Ended
	Dec. 31, 2023 shares
ADR [Member]
Earnings per share [Line Items]
Dilutive effect of other instruments on weighted average number of ordinary shares	19,970
Ordinary Participation Certificates [member]
Earnings per share [Line Items]
Dilutive effect of other instruments on weighted average number of ordinary shares	199,700

Stockholders' Equity - Summary of Breakdown of Common Stock and Additional Paid-in Capital (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure of classes of share capital [abstract]
Common stock	$ 318	$ 318
Additional paid-in capital	7,381	7,492
Common stock and additional paid-in capital	$ 7,699	$ 7,810

Cost Of Sales (Tables)

12 Months Ended

Dec. 31, 2023

TextBlock1Abstract [Abstract]

Schedule of Cost of Sales

The detail of the consolidated cost of sales by nature for the years 2023, 2022 and 2021 is as follows:


		2023		2022		2021
Raw materials and goods for resale	$		5,353		4,916		4,875
Payroll			1,734		1,474		1,349
Electricity, fuels and other services			1,791		1,655		1,174
Depreciation and amortization			1,017		929		934
Maintenance, repairs and supplies			955		809		722
Transportation costs			466		671		573
Other production costs and change in inventory			211		301		116

	$		11,527		10,755		9,743

Financial Instruments - Additional Information - Risk Management (Detail) - USD ($) $ in Millions		12 Months Ended
	Feb. 29, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of detailed information about financial instruments [line items]
Reduction in income			$ 160	$ 10
Percentage of entity's revenue	75.00%
Hypothetic foreign exchange rate strengthening		10.00%
Financial debt percentage		70.00%
Current maturities of debt		$ 10	2
Other financial obligations		950	936
Cash flows provided by operating activities from continuing operations		2,159	1,469	1,806
Revolving credit facility		2,000
Allowance for expected credit loss		$ 90	$ 91	$ 101	$ 121
Euro [Member]
Disclosure of detailed information about financial instruments [line items]
Financial debt percentage		16.00%
Mexican peso [member]
Disclosure of detailed information about financial instruments [line items]
Financial debt percentage		11.00%
Philippine peso [member]
Disclosure of detailed information about financial instruments [line items]
Borrowings, interest rate		7.10%	5.40%
Financial debt percentage		2.00%
Other Currencies [member]
Disclosure of detailed information about financial instruments [line items]
Borrowings, interest rate		4.50%	4.30%
Financial debt percentage		1.00%
Foreign Exchange Options [Member] \| Dollar Denominated [Member]
Disclosure of detailed information about financial instruments [line items]
Notional amount		$ 300
Mexico [member]
Disclosure of detailed information about financial instruments [line items]
Allowance for expected credit loss		31
Interest rate risk [member]
Disclosure of detailed information about financial instruments [line items]
Reduction in income		$ 14	$ 13
Interest rate risk [member] \| Top of range [member]
Disclosure of detailed information about financial instruments [line items]
Borrowings, interest rate			0.50%
Interest rate risk [member] \| Bottom of range [member]
Disclosure of detailed information about financial instruments [line items]
Borrowings, interest rate		0.50%
Interest rate risk [member] \| Floating interest rate [member]
Disclosure of detailed information about financial instruments [line items]
Borrowings, interest rate		26.00%	21.00%
Currency risk [member] \| Mexico [member]
Disclosure of detailed information about financial instruments [line items]
Percentage of entity's revenue		29.00%
Currency risk [member] \| United Kingdom [member]
Disclosure of detailed information about financial instruments [line items]
Percentage of entity's revenue		6.00%
Currency risk [member] \| Germany [member]
Disclosure of detailed information about financial instruments [line items]
Percentage of entity's revenue		3.00%
Currency risk [member] \| France [member]
Disclosure of detailed information about financial instruments [line items]
Percentage of entity's revenue		5.00%
Currency risk [member] \| Poland [member]
Disclosure of detailed information about financial instruments [line items]
Percentage of entity's revenue		3.00%
Currency risk [member] \| Spain [member]
Disclosure of detailed information about financial instruments [line items]
Percentage of entity's revenue		3.00%
Currency risk [member] \| Rest Of Europe Region [member]
Disclosure of detailed information about financial instruments [line items]
Percentage of entity's revenue		4.00%
Currency risk [member] \| Colombia [member]
Disclosure of detailed information about financial instruments [line items]
Percentage of entity's revenue		3.00%
Currency risk [member] \| Panama [member]
Disclosure of detailed information about financial instruments [line items]
Percentage of entity's revenue		1.00%
Currency risk [member] \| Rest of South, Central America and the Caribbean region [member]
Disclosure of detailed information about financial instruments [line items]
Percentage of entity's revenue		1.00%
Currency risk [member] \| Caribbean Tcl [member]
Disclosure of detailed information about financial instruments [line items]
Percentage of entity's revenue		2.00%
Currency risk [member] \| Philippines [member]
Disclosure of detailed information about financial instruments [line items]
Percentage of entity's revenue		2.00%
Currency risk [member] \| Other Operations [Member]
Disclosure of detailed information about financial instruments [line items]
Percentage of entity's revenue		31.00%
Currency risk [member] \| Dominican Republic [member]
Disclosure of detailed information about financial instruments [line items]
Percentage of entity's revenue		2.00%
Currency risk [member] \| Israel [member]
Disclosure of detailed information about financial instruments [line items]
Percentage of entity's revenue		5.00%
Liquidity risk [member]
Disclosure of detailed information about financial instruments [line items]
Current maturities of debt		$ 975
Other financial obligations		1,781
Cash flows provided by operating activities from continuing operations		2,159
Revoving credit facility disposed amount		600
Liquidity risk [member] \| 2017 Credit Agreement [member]
Disclosure of detailed information about financial instruments [line items]
Revolving credit facility		2,000
Credit risk [member]
Disclosure of detailed information about financial instruments [line items]
Allowance for expected credit loss		$ 90

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
OPERATING ACTIVITIES
Consolidated net income	$ 199	$ 885	$ 778
Discontinued operations	0	324	(39)
Net income from continuing operations	199	561	817
Adjustments for:
Sale of emission allowances	0	0	(600)
Depreciation and amortization of assets	1,233	1,120	1,120
Impairment losses of longed-lived assets	43	442	509
Share of profit of equity accounted investees	(98)	(30)	(54)
Results on sale of subsidiaries, other disposal groups and others	(39)	(116)	(23)
Financial expense, financial income and other items, net	498	354	737
Income taxes	1,250	209	137
Changes in working capital, excluding income taxes	192	(390)	(143)
Cash flows provided by operating activities from continuing operations	3,278	2,150	2,500
Interest paid	(581)	(493)	(524)
Income taxes paid	(538)	(188)	(170)
Net cash flows provided by operating activities from continuing operations	2,159	1,469	1,806
Net cash flows provided by operating activities from discontinued operations	0	6	37
Net cash flows provided by operating activities after interest and income taxes	2,159	1,475	1,843
INVESTING ACTIVITIES
Purchase of property, machinery and equipment, net	(968)	(909)	(776)
Acquisition of intangible assets, net	(207)	(151)	(192)
Disposal (acquisition) of subsidiaries, net	(189)	341	122
Proceeds from the sale of emission allowances	0	0	600
Non-current assets and others, net	24	(12)	(10)
Cash flows used in investing activities from continuing operations	(1,340)	(731)	(256)
Net cash flows used in investing activities from discontinued operations	0	(1)	(17)
Net cash flows used in investing activities	(1,340)	(732)	(273)
FINANCING ACTIVITIES
Proceeds from new debt instruments	2,938	2,006	3,960
Debt repayments	(3,840)	(2,420)	(5,897)
Issuance of subordinated notes	992	0	994
Other financial obligations, net	(274)	(197)	(288)
Own shares repurchase program	0	(111)	0
Shares in trust for future deliveries under share-based compensation	(45)	(36)	0
Changes in non-controlling interests and repayment of perpetual debentures	(62)	(14)	(447)
Derivative financial instruments	(189)	34	(41)
Coupons on subordinated notes and coupons on perpetual debentures	(120)	(51)	(24)
Non-current liabilities, net	(101)	(172)	(109)
Net cash flows used in financing activities	(701)	(961)	(1,852)
Increase (decrease) in cash and cash equivalents from continuing operations	118	(223)	(302)
Increase in cash and cash equivalents from discontinued operations	0	5	20
Foreign currency translation effect on cash	11	100	(55)
Cash and cash equivalents at beginning of period	495	613	950
CASH AND CASH EQUIVALENTS AT END OF PERIOD	624	495	613
Changes in working capital, excluding income taxes:
Trade accounts receivable	(27)	(208)	(20)
Other accounts receivable and other assets	21	(23)	94
Inventories	68	(464)	(341)
Trade accounts payable	(45)	290	290
Other accounts payable and accrued expenses	175	15	(166)
Changes in working capital, excluding income taxes	$ 192	$ (390)	$ (143)

Legal Proceedings

12 Months Ended

Dec. 31, 2023

Legal Proceedings

25)	LEGAL PROCEEDINGS

25.1)

PROVISIONS RESULTING FROM LEGAL PROCEEDINGS

Cemex is involved in various significant legal proceedings, the adverse resolutions are deemed probable and imply the incurrence of losses and/or cash outflows or the delivery of other resources owned by Cemex. As a result, certain provisions and/or losses have been recognized in the financial statements, representing the best estimate of cash outflows. Cemex believes that it will not make significant expenditures over the amounts recorded. As of December 31, 2023, the details of the most significant events giving effect to provisions or losses are as follows:

•

As of December 31, 2023, Cemex accrued environmental remediation liabilities through its subsidiaries in the United Kingdom pertaining to closed and current landfill sites for the confinement of waste, representing the NPV of such obligations for an amount in Pounds sterling equivalent to $208. Expenditure was assessed and quantified over the period in which the sites have the potential to cause environmental harm, which is generally consistent with the views taken by the regulator as being up to 60 years from the date of closure. The assessed expenditure included the costs of monitoring the sites and the installation, repair and renewal of environmental infrastructure.

•

As of December 31, 2023, Cemex accrued environmental remediation liabilities through its subsidiaries in the United States for $45, related to: a) the disposal of various materials in accordance with past industry practice, which might currently be categorized as hazardous substances or wastes; and b) the cleanup of sites used or operated by Cemex, including discontinued operations, regarding the disposal of hazardous substances or waste, either individually or jointly with other parties. Most of the proceedings are in the preliminary stages and a final resolution might take several years. Cemex does not believe that it will be required to spend significant sums on these matters more than the amounts previously recorded. The ultimate cost that may be incurred to resolve these environmental issues cannot be assured until all environmental studies, investigations, remediation work and negotiations with, or litigation against, potential sources of recovery have been completed.

•

In 2012, in connection with a contract entered into in 1990 (the “Quarry Contract”) by Cemex Granulats Rhône Méditerranée (“Cemex GRM”), one of Cemex’s subsidiaries in France, with SCI La Quinoniere (“SCI”) pursuant to which Cemex GRM had drilling rights to extract reserves and do quarry remediation at a quarry in the Rhône region of France, SCI filed a claim against Cemex GRM for breach of the Quarry Contract, requesting the rescission of such contract and damages plus interest for a revised amount in Euros equivalent to $61, arguing that Cemex GRM partially filled the quarry allegedly in breach of the terms of the Quarry Contract. After many hearings, resolutions and appeals over the years, on November 25, 2020, the expert appointed by the court of appeals determined a loss of profits of $0.70 and a cost of backfilling the quarry of $14 and stated that the damages suffered by SCI could only be set based on the loss of profits.

•

In 2020, Cemex had accrued a provision through its subsidiaries in France for $1 in connection with the best estimate of the remediation costs resulting from this claim. On November 23, 2022, the court handed down its decision to confirm the final report issued by the expert and determined that the damages of SCI were set at $0.70. SCI filed a notice of appeal before the Court of Cassation on February 20, 2023 and the Court of Cassation’s decision is expected to be issued in 2024. As of December 31, 2023, although the final amount may differ, Cemex considers that any such amount should not have a material adverse impact on Cemex’s results of operations, liquidity and financial condition.

25.2)

CONTINGENCIES FROM LEGAL PROCEEDINGS

Cemex is involved in various legal proceedings, which have not required the recognition of accruals, considering that the probability of loss is less than probable. Nonetheless, until all stages in the procedures are exhausted in each proceeding, Cemex cannot assure the achievement of a final favorable resolution.

As of December 31, 2023, the most significant contingencies with a quantification of the potential loss, when it is determinable and would not impair the outcome of the relevant proceeding, were as follows:

•

The European Commission has inspected Cemex’s offices in France and requested certain information relating to the business in France in the construction chemicals sector, which includes chemical admixtures and additives for use in concrete, cement and related construction products. Cemex is fully cooperating with the authorities conducting this investigation. The fact that this investigation is being conducted does not mean that the European Commission has concluded that Cemex has violated the law. As of December 31, 2023, due to the early stages of this investigation, Cemex is not able to assess the likely outcome of the investigation as it relates to us or whether it would have a material adverse impact on our results of operations, liquidity and financial condition.

•

Cemex’s operations in the United States received a grand jury subpoena issued by the Department of Justice (the “DOJ”) in connection with an investigation of possible antitrust law violations in the cement additives and concrete admixtures sector. Cemex is fully cooperating with the authorities conducting this investigation. The fact that this investigation is being conducted does not mean that the DOJ has concluded that Cemex has violated the law. As of December 31, 2023, due to the early stages of this investigation, we are not able to assess the likely outcome of the investigation as it relates to us or whether it would have a material adverse impact on our results of operations, liquidity and financial condition.

•

In August 2020, an individual filed a class action lawsuit (

Acción de Grupo

) with a Circuit Civil Court in Colombia against Cemex Colombia and two other gray Portland cement market participants (the “Colombian Class Action Defendants”). The lawsuit seeks compensation for damages arising from alleged cartel actions for which the Colombian Class Action Defendants were fined in December 2017. The complaint claims that the Colombian Class Action Defendants caused damages to all consumers of gray Portland cement in Colombia from 2010 to 2012. According to the plaintiff’s claims, the Colombian Class Action Defendants should be ordered to pay damages due to the higher price set on gray Portland cement in an amount in Colombian Pesos equivalent to $342 determined considering the sales of the three market participants in such period. After several procedures, the Circuit Civil Court ruled in favor of Cemex Colombia, dismissing the proceeding. The plaintiff appealed this decision on May 16, 2022, and, on July 11, 2022, the Circuit Civil Court ratified its decision to dismiss the case. The Superior Court of Bogota confirmed the dismissal on August 24, 2022. The plaintiff failed to challenge the dismissal, and therefore, the procedure has concluded.

•

On October 1, 2019, SEMARNAT published the basis for a trial emissions trading program. The pilot phase of the trial program concluded on December 31, 2021, and was followed by a

12-month

period ending on December 31, 2022 to transition to the operative stage. The Mexican Emissions Trading System (“Mexican ETS”) is expected to enter its Phase I starting January 1, 2024 and conclude on December 31, 2026, followed by its Phase II, is expected to last from January 1, 2027 to December 31, 2030. The operating rules for Phase I of the Mexican ETS are under review by the SEMARNAT and are expected to be issued in June 2024. For Phase I, the SEMARNAT will publish growth projections factors and corresponding free allocations of allowances for the cement, steel, energy, and chemical sectors which, as of December 31, 2023, are still being drafted. As of December 31, 2023, we are unable to determine if Phase I of the Mexican ETS will have a material adverse impact on our results of operations, liquidity and financial condition.

•

As of December 31, 2023, levies in effect in several Mexican states on the extraction of raw materials range from an amount to $0.67 Dollars to $9.17 Dollars per m3 and levies on GHG emissions range from $2.5 Dollars to $34.2 Dollars per ton. As of December 31, 2023, Cemex has filed constitutional challenges against these levies. If Cemex is unable to obtain favorable resolutions relating to these constitutional challenges, Cemex expects that the aggregate impact of these levies would have a material adverse impact on Cemex’s results of operations, liquidity, and financial condition.

•

On September 20, 2018, triggered by heavy rainfall, a landslide causing damages and fatalities (the “Landslide”) occurred in a site located within an area covered by mining rights of APO Land & Quarry Corporation (“ALQC”) in Naga City, Cebu, Philippines. ALQC is a principal raw material supplier of APO Cement Corporation (“APO”), a wholly owned subsidiary of CHP. Cemex indirectly owns a minority 40% stake in ALQC. On November 19, 2018, 40 individuals and one legal entity (on behalf of 8,000 individuals allegedly affected by the Landslide) filed an environmental class action lawsuit at the Regional Trial Court (the “Court”) of Talisay, Cebu, against CHP, ALQC, APO, the Mines and Geosciences Bureau of the Department of Environment and Natural Resources, the City Government of Naga, and the Province of Cebu. Plaintiffs claim that the Landslide occurred because of the defendants’ gross negligence and seek, among other relief, (a) damages for an amount in Philippine Pesos equivalent to $78, (b) a rehabilitation fund for an amount in Philippine Pesos equivalent to $9, and (c) the issuance of a Temporary Environment Protection Order against ALQC aiming to prevent ALQC from performing further quarrying activities while the case is still pending. This last request was rejected by the Court on August 16, 2019, and after reconsideration, the resolution became final on December 5, 2020. Moreover, on September 30, 2019, the Court dismissed the case against CHP and APO and this resolution became final on May 4, 2023 when the Court issued a certificate of finality confirming the dismissal. This certificate of finality deems the Court’s order partially granting CHP’s, APO’s and ALQC’s affirmative defenses as final and executory, and dismisses the case against APO, CHP, and all public defendants, and the damage claims against ALQC. As of December 31, 2023, only ALQC remains as a private defendant in the case regarding the environmental aspect of ALQC’s supposed violation of the Philippine Mining Act which purportedly caused damage to the environment and allegedly made ALQC liable for

clean-up

and rehabilitation.

•

In December 2016, the Parent Company received subpoenas from the SEC seeking information to determine whether there have been any violations of the U.S. Foreign Corrupt Practices Act stemming from the Maceo Project. These subpoenas do not mean that the SEC has concluded that the Parent Company or any of its affiliates violated the law. On March 12, 2018, the DOJ issued a grand jury subpoena to the Parent Company relating to its operations in Colombia and other jurisdictions. In 2020, the Company delivered all of the information and documentation that had been requested and has not received any more requests since then. The Parent Company intends to continue to cooperate fully with the SEC, the DOJ and any other investigate entity. As of December 31, 2023, the Parent Company is unable to predict the duration, scope, or outcome of either the SEC investigation or the DOJ investigation, or any other investigation that may arise, or, because of the current status of the SEC investigation and the preliminary nature of the DOJ investigation, the potential sanctions which could be borne by the Parent Company, or if such sanctions, if any, would have a material adverse impact on Cemex results of operations, liquidity or financial position.

•

In September 2012, in connection with a lawsuit submitted to a first instance court in Assiut, Egypt in 2011, the first instance court of Assiut issued a resolution to nullify the Share Purchase Agreement (the “SPA”) pursuant to which Cemex acquired in 1999 a controlling interest in Assiut Cement Company (“ACC”). In addition, during 2011 and 2012, lawsuits seeking, among other things, the annulment of the SPA were filed by different plaintiffs, including 25 former employees of ACC, before Cairo’s State Council. After several appeals, hearings and resolutions over the years, the cases were pending in Cairo’s 7

Circuit State Council Administrative Judiciary Court. On January 14, 2023, the High Constitutional Court determined that the Law 32/2014, pursuant to which the validity of the SPA is recognized, and which protects Cemex’s investments in Egypt, is constitutional. Following this resolution, the 7th Circuit of Cairo’ State Council Administrative Judiciary Court dismissed the claims due to the lack of legal standing of the plaintiffs in the application of Law 32/2014 on February 25, 2023. As the plaintiffs failed to challenge this dismissal within the legally prescribed term of 60 days, the resolution is final and definitive, and these proceedings are considered closed.

In addition to the legal proceedings described above in notes 25.1 and 25.2, as of December 31, 2023, Cemex is involved in various legal proceedings of lesser impact that have arisen in the ordinary course of business. These proceedings involve: 1) product warranty claims; 2) claims for environmental damages; 3) indemnification claims relating to acquisitions or divestitures; 4) claims to revoke permits and/or concessions; and 5) other diverse civil, administrative, commercial and lawless actions. Cemex considers that in those instances in which obligations have been incurred, Cemex has accrued adequate provisions to cover the related risks. Cemex believes these matters will be resolved without any significant effect on its business, financial position or results of operations. In addition, in relation to certain ongoing legal proceedings, Cemex is sometimes able to make and disclose reasonable estimates of the expected loss or range of possible loss, as well as disclose any provision accrued for such loss, but for a limited number of ongoing legal proceedings, Cemex may not be able to make a reasonable estimate of the expected loss or range of possible loss or may be able to do so but believes that disclosure of such information on a

case-by-case

basis would seriously prejudice Cemex’s position in the ongoing legal proceedings or any related settlement discussions. Accordingly, in these cases, Cemex has disclosed qualitative information with respect to the nature and characteristics of the contingency but has not disclosed the estimate of the range of potential loss.

25.3)

OTHER SIGNIFICANT PROCESSES

In connection with the integrated cement plant located in the municipality of Maceo, Colombia (the “Maceo Plant”), as described in note 15.1, as of December 31, 2023, the Maceo Plant has not initiated commercial operations considering several significant administrative processes and legal proceedings. The evolution and status of the main issues related to the Maceo Plant are described as follows:

•

As of December 31, 2023, the land over which the Maceo Plant was constructed, the mining concession, the environmental license and the shares of Zona Franca Especial Cementera del Magdalena Medio S.A.S. (“Zomam”) (holder of the free trade zone concession), acquired in 2012 from CI Calizas y Minerales S.A. (“CI Calizas”), are held under a domain extinction proceeding that was linked to a former shareholder of CI Calizas by Colombia’s Attorney General (the “Attorney General”) in which, among other measures, suspended CI Calizas’ ability to transfer certain assets (land, mining concession, environmental license, shares of Zomam with the corresponding free trade zone benefits and other related assets required to build a cement plant) to Cemex Colombia that Cemex Colombia had acquired from CI Calizas in 2012 as mentioned above.

•

As of the financial statements date, although Cemex Colombia acted in good faith and free of guilt in the acquisition process in 2012, pursuant to the domain extinction proceeding initiated in December 2012, which has not finalized and which may still take several more years, Cemex Colombia does not have the legal representation of Zomam, is not the rightful owner of the land over which the Maceo Plant was constructed and is not the assigned beneficiary of the corresponding mining concession.

•

In December 2020, Cemex Colombia presented to the Business Superintendency of Colombia (

Superintendencia de Sociedades de Colombia

or the “Business Superintendency”), a recourse seeking the invalidity and, alternatively, the nullity or the inexistence of the equity contribution

in-kind

carried out by Cemex Colombia to Zomam in December 2015 by means of which a portion of the Maceo Plant’s assets were contributed to this entity. On December 6, 2022, the Business Superintendency issued an adverse resolution to Cemex Colombia in relation to this recourse; and, as of December 31, 2023, this resolution is under review by the Colombian Supreme Court.

•

Considering the domain extinction proceeding mentioned above, in April 2019, Cemex Colombia, its direct holding company and another of its subsidiaries reached a conciliatory agreement with the Sociedad de Activos Especiales, S.A.S. (the “SAE”) and CI Calizas before the Attorney General’s Office and signed jointly with CI Calizas and Zomam, with the authorization of the SAE as delegate of these last two companies on behalf of the State, a contract of Mining Operation, Manufacturing and Delivery Services and Leasing of Properties for Cement Production (the “Operation Contract”), which allows Cemex Colombia to continue using the assets for an initial term of 21 years that can be extended for

ten

additional years under certain conditions. The Operation Contract includes the following payments:

◾

Once the Maceo Plant begins commercial operations, Cemex Colombia and/or a

subsidiary

will pay on a quarterly basis: a) 0.9% of the net sales resulting from the cement produced in the plant as compensation to CI Calizas for the right of Cemex Colombia to extract and use the mineral reserves; and b) 0.8% of the net sales resulting from the cement produced in the plant as payment to Zomam for cement manufacturing and delivery services, as long as Zomam maintains the free trade zone benefit, or, 0.3% in case that Zomam losses such benefit.

◾

The Operation Contract will continue in force regardless of the result in the domain extinction proceeding, except if the applicable criminal judge recognizes ownership rights of the assets under the domain extinction proceeding to Cemex Colombia and one of its affiliates, in which case the Operation Contract would no longer be needed and would be terminated, considering that Cemex Colombia and its affiliate would be the owners of the corresponding assets.

•

As of December 31, 2023, Cemex believes that it would be able to keep ownership of the Maceo Plant. Nevertheless, if the domain extinction proceeding over the assets is ordered in favor of the Colombian State, and if the assets were adjudicated to a third party in a public tender offer, by virtue of the Operation Contract, such third party would have to subrogate to such contract. As of December 31, 2023, Cemex is not able to estimate whether the domain extinction proceeding over the assets will be ordered in favor of the Colombian State, or, if applicable, if the assets would be adjudicated to a third party in a public tender offer.

•

To begin operations under the Operation Contract, the following mandatory conditions must be completed: (a) extend the environmental license to permit the extraction of the required minerals to produce at least 950 thousand tons of cement; (b) permit for the extraction of limestone and other minerals under the mining concession to achieve the minimum production of 950 thousand tons of cement under the environmental license, once the environmental license would be extended; (c) the partial and definitive subtraction of a portion of the plant from the Integrated Management District of the Canyon of the Alicante River (“IMD”) required to extract minerals to produce at least 950 thousand tons of cement; (d) obtaining all environmental permits and authorizations, including the release of any lockdown; (e) any permits required to conclude the access road and the plant’s employees housing; and (f) any applicable urban permits and authorizations. These conditions have been evolving, presenting the following progress:

◾

In September 2019, Corantioquia’s Directive Council, the regional environmental authority (“Corantioquia”), approved the subtraction of a portion of the plant from the IMD. In addition, in February 2021, Corantioquia notified CI Calizas of the modification of the environmental license allowing the extraction of up to 990 thousand tons of minerals (clay and limestone) to produce up to 1.5 million metric tons of cement annually and in April 2023, the Secretary of Mines of the Antioquia’s Government granted the permit for the extraction of limestone and other minerals above the 950 thousand tons of cement. As of the date of the financial statements, the Company is working with the authorities to expand the environmental extraction license mentioned above that would allow the production of up to 1.5 million tons from Maceo Plant’s quarry without the need to bring minerals from other locations.

◾

Regarding the permits to conclude the construction of several sections of the access road, in December 2020, Maceo’s municipality issued a decree establishing the public utility of the access road, required for both, to obtain the permits to acquire the required land and build the remainder of the road. In respect to the modification of the permitted land use where the project is located, Cemex Colombia received favorable criteria from Corantioquia regarding the change of land use because of the approval for the subtraction from the IMD, which was endorsed by the municipality of Maceo in August 2020, which allows for an industrial and mining use compatible with the project.

◾

In addition, in June 2022, the Ministry of Commerce, Industry and Tourism granted Zomam the extension of the free trade zone area, which now covers the full area of the Maceo Plant.

◾

In spite of the developments above, which represent significant progress for the commissioning of the Maceo Plant, the beginning of commercial operations remains subject mainly to the conclusion of the access road and the authorization required from the owners of land plots adjacent to the Maceo Plant, as well as the extension of the environmental extraction permit that would allow the production of up to 1.5 million tons from Maceo Plant’s quarry. As of the date of these financial statements the estimated conclusion of the mandatory conditions cannot be established. Cemex Colombia continues working to resolve these matters as soon as possible.

Other Accounts Receivable

12 Months Ended

Dec. 31, 2023

Other Accounts Receivable

11)	OTHER ACCOUNTS RECEIVABLE

As of December 31, 2023 and 2022, consolidated other accounts receivable consisted of:


		2023		2022
Advances of income taxes and other refundable taxes	$		472		335
Non-trade accounts receivable 1			102		119
Interest and notes receivable			54		41
Loans to employees and others			16		15
Current portion of assets from valuation of derivative financial instruments			6		25

	$		650		535

1	Non-trade accounts receivable are mainly attributable to the sale of assets.

Property, Machinery and Equipment, Net and Assets For The Right-Of-Use, Net - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cemex [Member]
Disclosure of quantitative information about right-of-use assets [line items]
Rental expense	$ 137	$ 108	$ 94

Basis of Presentation and Disclosure - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Basis Of Preparation Of Financial Statements [Line Items]
Increase decrease in financing obligations connected with leases	$ 341	$ 296	$ 227
Mobile equipment [member]
Disclosure Of Basis Of Preparation Of Financial Statements [Line Items]
Carrying amount of assets acquired through leases	$ 341	$ 296	$ 227

Material Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

Summary of Foreign Exchange Rates


	2023				2022				2021

Currency	Closing		Average		Closing		Average		Closing		Average

Peso		16.9700		17.6300		19.5000		20.0274		20.5000		20.4266
Euro		0.9059		0.9227		0.9344		0.9522		0.8789		0.8467
British Pound Sterling		0.7852		0.8019		0.8266		0.8139		0.7395		0.7262
Colombian Peso		3,822		4,272		4,810		4,277		3,981		3,783

Summary of Statutory Tax Rates

For the years ended December 31, 2023, 2022 and 2021, the statutory tax rates in Cemex’s main operations were as follows:


Country	2023	2022	2021
Mexico	30.0%	30.0%	30.0%
United States	21.0%	21.0%	21.0%
United Kingdom	23.5%	19.0%	19.0%
France	25.8%	25.8%	28.4%
Germany	28.2%	28.2%	28.2%
Spain	25.0%	25.0%	25.0%
Philippines	25.0%	25.0%	25.0%
Israel	23.0%	23.0%	23.0%
Colombia	35.0%	35.0%	31.0%
Others	5.5% – 30.0%	5.5% – 30.0%	5.5% – 30.0%

Other Current and Non-current Liabilities - Summary of Other Current Liabilities (Detail) - USD ($)
$ in Millions

Dec. 31, 2023

Dec. 31, 2022

Subclassifications of assets, liabilities and equities [abstract]

Other accounts payable and accrued expenses

^[1]

$ 656

$ 560

Provisions

^[2]

492

276

Contract liabilities with customers (note 3)

^[3]

384

293

Interest payable

Other current liabilities

$ 1,620

$ 1,225

[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 18.2 below.
[3]	As of December 31, 2023 and 2022, contract liabilities with customers included $339 and $253, respectively, of advances received from customers, as well as in 2023 and 2022 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.

Income Taxes - Summary of Breakdown of Changes in Consolidated Deferred Income Taxes (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Changes in deferred tax liability (asset) [abstract]
Deferred income tax expense (benefit) in the statement of income	$ 103	$ 39	$ (35)
Deferred income tax (benefit) expense in stockholders' equity	(6)	14	(38)
Reclassifications	0	7	78
Change in deferred income tax during the period	$ 97	$ 60	$ 5

Other Expenses, Net - Summary of Other Expenses (Detail) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Material income and expense [abstract]

Results from the sale of assets and others

^[1]

$ (219)

$ 9

$ (126)

Impairment losses (notes 15.1, 16.1 and 16.2)

(43)

(442)

(513)

Restructuring costs

^[2]

(2)

(20)

(17)

Incremental expenses related to the COVID-19 Pandemic

^[3]

(1)

(14)

(26)

Sale of CO2 allowances (note 28.13)

^[4]

600

Depreciation and amortization included in administrative expenses

$ (265)

$ (467)

$ (82)

[1]	In 2023, 2022 and 2021, includes $13, $14 and $29, respectively, in connection with property damage related to natural disasters (note 25.1). In addition, in 2022 includes a gain of $48 as a result of the remeasurement at fair value of Cemex’s previous controlling interest in Neoris at the time of sale.
[2]	Restructuring costs mainly refer to severance payments and the definitive closing of operating sites.
[3]	Refers to certain incremental expenses that Cemex considers of non-recurring nature related to the maintenance of some hygiene measures related to the Coronavirus SARS-CoV-2 pandemic declared in March 2020 (the “COVID-19 Pandemic”). From the beginning of the COVID-19 Pandemic and to the present day, attending official dispositions of the authorities, Cemex has followed strict hygiene, sanitary and security protocols in all its operations and has modified its manufacturing, selling and distribution processes aiming to protect the health and safety of its employees and their families, customers and communities.
[4]	In connection with the EU’s Emissions Trading System (“EU ETS”), during March 2021, considering Cemex’s targets for the reduction of CO2 emissions (note 24.4), as well as the innovative technologies and considerable capital investments that have to be deployed to achieve such goals, Cemex sold 12.3 million CO2 emission allowances (“Allowances”) for an aggregate amount of $600.

Operating Expenses - Summary of Consolidated Operating Expense (Parenthetical) (Detail) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Operating Expense [Line items]

Administrative expenses

^[1],[2]

$ 1,385

$ 1,074

$ 958

162

140

137

Depreciation and amortization included in selling expenses

R&D activities by internal areas [member]

Operating Expense [Line items]

Administrative expenses

$ 55

$ 42

$ 44

[1]	All significant research and development activities are executed by several internal areas of Cemex as part of their daily activities. In 2023, 2022 and 2021, the total combined expenses of these departments recognized within administrative expenses were $55, $42 and $44, respectively.
[2]	In 2023, 2022 and 2021, administrative expenses include depreciation and amortization of $162, $140 and $137, respectively, and selling expenses include depreciation and amortization of $54 in 2023, $51 in 2022 and $49 in 2021.

Cash and Cash Equivalents (Tables)

12 Months Ended

Dec. 31, 2023

Summary of Cash and Cash Equivalents

As of December 31, 2023 and 2022, consolidated cash and cash equivalents consisted of:


		2023		2022
Cash and bank accounts	$		363		297
Fixed-income securities and other cash equivalents			261		198

	$		624		495

Business Combinations, Divestitures and Discontinued Operations and Selected Financial Information by Reportable Segment and Line of Business

12 Months Ended

Dec. 31, 2023

Business Combinations, Divestitures and Discontinued Operations and Selected Financial Information by Reportable Segment and Line of Business

4)	BUSINESS COMBINATIONS, DIVESTITURES AND DISCONTINUED OPERATIONS AND SELECTED FINANCIAL INFORMATION BY REPORTABLE SEGMENT AND LINE OF BUSINESS

4.1)	BUSINESS COMBINATIONS

On November 1, 2023, through a subsidiary in Germany, Cemex completed the acquisition of Kiesel, a mortars and adhesives technological leader in the construction industry based in Germany that serves the German, French, Polish, and Czech markets, consisting of a production facility and five distribution locations for a total consideration of $13. As of December 31, 2023, based on the preliminary valuation of the fair values of the assets acquired and liabilities assumed, Cemex determined goodwill of $5.

On May 11, 2023, through a subsidiary, Cemex completed the purchase of Atlantic Minerals Limited in Newfoundland, Canada, consisting mainly of an aggregates quarry and maritime port operations for a price of $75. With this investment, Cemex secured a new long-term aggregates reserve for its operations in Florida and the east coast of the United States, as well as a source for chemical-grade stone serving a broader customers. As of December 31, 2023, based on the preliminary valuation of the fair values of the assets acquired and liabilities assumed, Cemex did not determine any goodwill.

On January 30, 2023, through a subsidiary, Cemex acquired a 51% stake in Israel-based SHTANG Recycle LTD (“SHTANG”), a construction demolition and excavation waste (CDEW) recycling company, for a price of $13. The acquisition aligns with Cemex’s strategy to strengthen its business in developed markets through

bolt-on

acquisitions in businesses with strong circular and sustainable attributes. SHTANG has been awarded a

13-year

license to build and operate the CDEW recycling facility. The

state-of-the-art

facility will be capable of processing 600,000 tons of waste annually. The CDEW production will be used by Cemex as raw materials for aggregate production, reintegrating them into the construction value chain. As of December 31, 2023, based on the preliminary valuation of the fair values of the assets acquired and liabilities assumed, Cemex determined goodwill of $3.

On July 11, 2022, through a subsidiary in Germany, Cemex completed the acquisition of a 53% stake in the German aggregates company ProStein for a total consideration of $21. The investment expands Cemex’s aggregates business in the region and Cemex estimates increased the life of aggregates reserves for Cemex’s operations in Central Europe for at least the next 25 years. The majority stake in ProStein’s assets adds a full range of fine and hardstone aggregates to Cemex’s aggregates portfolio. In addition to supplying the greater Berlin area, the additional capacity can supply several urban centers in Poland and the Czech Republic. ProStein’s assets include six active hardstone plants and six CDEW recovery sites. During 2023, based on the valuation of the fair values of the assets acquired and liabilities assumed, Cemex did not determine any goodwill.

On December 10, 2021, through a subsidiary in Mexico, Cemex acquired Broquers Ambiental, a sustainable waste management company for a total consideration of $13. Broquers Ambiental’s assets include a plant for solid waste treatment for its use as alternate fuel. During 2022, considering the valuation of the fair values of the assets acquired and liabilities assumed, Cemex determined goodwill of $4.

In January 2021, a subsidiary of Cemex in Israel acquired two

ready-mix

concrete plants from Kinneret and

Beton-He’Emek

for an amount in shekels equivalent to $6. During 2021, based on the valuation of the fair values of the assets acquired and liabilities assumed, Cemex determined goodwill of $5.

4.2)	DIVESTITURES AND DISCONTINUED OPERATIONS

On October 25, 2022, to accelerate the growth and development of Neoris N.V. (“Neoris”), its subsidiary in the digital solutions sector, Cemex closed a partnership with Advent International (“Advent”). As part of the partnership Cemex sold to Advent a 65% stake in Neoris for a total cash consideration of $119. While surrendering control to Advent, Cemex retained a 35% stake and remained a key strategic partner and customer of Neoris. Cemex’s retained stake in Neoris was remeasured at fair value at the date of loss of control and was subsequently accounted for under the equity method within the line item “Investments in associates and joint ventures.” Neoris’ results for the period from January 1 to October 25, 2022 and for the year ended December 31, 2021 are reported in the statements of income, net of income tax, in the single line item “Discontinued operations,” including in 2022 a gain on sale of $117, net of the reclassification of foreign currency translation effects accrued in equity until the date of loss of control.

On August 31, 2022, through subsidiaries in Colombia and Spain, Cemex concluded the sale with affiliates of Cementos Progreso Holdings, S.L. of its entire operations in Costa Rica and El Salvador for a total cash consideration of $325, related to Cemex’s aggregate controlling interest. The assets sold consisted of one cement plant, one grinding station, seven

ready-mix

plants, one aggregates quarry, one distribution center in Costa Rica and one distribution center in El Salvador. Cemex’s results of these operations for the period from January 1 to August 31, 2022 and for the year ended December 31, 2021 are reported in the statements of income, net of income tax, in the single line item “Discontinued operations,” including in 2022 a gain on sale of $240 which includes the reclassification of foreign currency translation effects accrued in equity until the disposal date.

On July 9, 2021, Cemex closed the sale to Çimsa Çimento Sanayi Ve Ticaret A.Ş., of its white cement business, except for Mexico and the United States, for a total cash consideration of $155, including its Buñol cement plant in Spain and its white cement customer list. Cemex’s operations of these assets in Spain for the period from January 1 to July 9, 2021 are reported in the statements of income, net of income tax, in the single line item “Discontinued operations,” including in 2021 a loss on sale of $67 net of the proportional allocation of goodwill of $41.

On March 31, 2021, Cemex closed the sale to LafargeHolcim of 24 concrete plants and one aggregates quarry located in the Rhone Alpes region in the Southeast of France for a total cash consideration of $44. Cemex’s operations of these assets in France for the three-month period ended on March 31, 2021 are reported in the statements of income, net of income tax, in the single line item “Discontinued operations.”


		2022			2021
Revenues	$		256			354
Cost of sales and operating expenses			(225	)		(304	)
Other expenses, net			(8	)		(42	)
Financial expenses, net and others			–			5

Earnings before income tax			23			13
Income tax			(3	)		(48	)

Result of discontinued operations			20			(35	)
Net disposal result			304			(4	)

Net result of discontinued operations	$		324			(39	)

4.3)	SELECTED FINANCIAL INFORMATION BY REPORTABLE SEGMENT AND LINE OF BUSINESS

Reportable segments

The Company’s main activities are oriented to the construction industry, mainly through the production, marketing, sale and distribution of cement,

ready-mix

concrete, aggregates, urbanization solutions and other construction materials and services. Under IFRS, the Company’s operating segments represent the components of Cemex that engage in business activities from which Cemex may earn revenues and incur expenses, whose operating results are reviewed by the entity’s top management to make decisions about resources to be allocated to the segments and assess their performance, and for which discrete financial information is available. A reportable segment represents an operating segment or an aggregation of operating segments considering certain thresholds, under which entities must report separately any operating segments which account for 10% or more of combined revenues, both internal and external, 10% or more of combined net profit or loss, depending on the individual result of the operating segment, and/or 10% or more of the combined assets of all operating segments. In addition, despite the described 10% threshold not being met individually, entities must report as many individual operating segments as needed to cover at least 75% of the entity’s revenue. Cemex operates by geography and line of business. Cemex discloses its segment information presenting 15 reportable segments. For the reported periods, Cemex’s operations were organized in four regions, each under the supervision of a regional president, as follows: 1) Mexico, comprised of one operating and reportable segment, 2) United States, comprised of one operating and reportable segment, 3) Europe, Middle East, Africa and Asia (“EMEAA”), comprised of 11 operating segments, of which four were aggregated into a single reportable operating segment as described below, and 4) South, Central America and the Caribbean (“SCA&C”), comprised of 12 operating segments, of which nine were aggregated into two reportable operating segments as described below. The Company’s regional presidents, who are part of Cemex’s Executive Committee, report to Cemex’s Chief Executive Officer or CEO. In addition, for those regions comprising several operating segments, such as EMEAA and SCA&C, each operating segment is supervised by a country manager whom in turn reports to the regional president.

The material accounting policies applied to determine the financial information by reportable segment are consistent with those described in note 28.

Aggregation criteria

Considering similar regional and/or economic characteristics and materiality, such as: (a) the nature of the products and services, all related to construction materials and the construction industry, (b) the nature of the production processes, which are the same for cement,

ready-mix

concrete, aggregates and urbanization solutions across geographies, (c) the type of customers for their products or services, in all cases construction materials distributors and wholesalers, governments and big construction firms, and (d) the methods used to distribute their products or provide their services, which are very similar among the Company’s geographies using both third-party transportation for cement and aggregates and our own mixers fleet for

ready-mix,

certain operating segments have been aggregated and presented as single reportable segments. These reportable segments are as follows: a) the “Rest of EMEAA” reportable segment refers to Cemex’s operating segments in the Czech Republic, Croatia, Egypt and the United Arab Emirates; b) the “Rest of SCA&C” reportable segment refers to Cemex’s operating segments in Puerto Rico, Nicaragua, Jamaica, the Caribbean and Guatemala, excluding the operations of Trinidad Cement Limited (“TCL”); and c) the “Caribbean TCL” reportable segment refers to the operating segments of TCL and subsidiaries in Trinidad and Tobago, Jamaica, Guyana and Barbados. The line item “Other activities,” included to reconcile the total of reportable segments with the consolidated amounts from continuing operations, refers to the following combined transactions: 1) cement trade maritime operations, 2) the Parent Company, other corporate entities and finance subsidiaries, and 3) other minor subsidiaries with different lines of business.


2023		Sales (including intragroup transactions)		Less: Intragroup transactions			External revenues		Operating EBITDA			Less: Depreciation and amortization		Operating earnings (loss) before other expenses, net			Other expenses, net			Financial expense			Other financing items, net
Mexico	$		5,060		(205	)		4,855		1,488			221		1,267			(59	)		(39	)		105
United States			5,338		–			5,338		1,040			483		557			(31	)		(75	)		(30	)
EMEAA
United Kingdom			992		–			992		193			72		121			(6	)		(14	)		(17	)
France			842		–			842		53			54		(1	)		(39	)		(15	)		(1	)
Germany			497		(50	)		447		37			32		5			(3	)		(2	)		(5	)
Poland			467		(1	)		466		72			24		48			1			(2	)		2
Spain			449		(38	)		411		71			31		40			3			(2	)		1
Philippines 1			312		–			312		34			32		2			(2	)		(3	)		1
Israel			794		–			794		90			33		57			5			(6	)		1
Rest of EMEAA			770		(4	)		766		147			48		99			(7	)		(6	)		(6	)
SCA&C
Colombia 2			458		–			458		62			25		37			(19	)		(6	)		(1	)
Panama 2			158		(26	)		132		35			17		18			(2	)		–			–
Caribbean TCL 3			329		(12	)		317		78			20		58			(17	)		(2	)		(2	)
Dominican Republic			378		(18	)		360		139			9		130			(2	)		(1	)		13
Rest of SCA&C 2			414		–			414		90			13		77			(10	)		(2	)		1

Reportable segments								16,904		3,629			1,114		2,515			(188	)		(175	)		62
Other activities 4								484		(282	)		119		(401	)		(77	)		(356	)		(29	)

Consolidated	$							17,388		3,347			1,233		2,114			(265	)		(531	)		33


2022		Sales (including intragroup transactions)		Less: Intragroup transactions			External revenues		Operating EBITDA			Less: Depreciation and amortization		Operating earnings (loss) before other expenses, net			Other expenses, net			Financial expense			Other financing items, net
Mexico	$		3,842		(200	)		3,642		1,133			172		961			(69	)		(28	)		32
United States			5,038		(4	)		5,034		762			455		307			(205	)		(55	)		(21	)
EMEAA
United Kingdom			982		–			982		195			60		135			(8	)		(8	)		(8	)
France			781		–			781		63			50		13			1			(10	)		2
Germany			485		(46	)		439		40			28		12			2			(2	)		(3	)
Poland			419		(4	)		415		64			22		42			1			(2	)		4
Spain			382		(36	)		346		6			28		(22	)		(113	)		(2	)		2
Philippines 1			379		–			379		84			37		47			(2	)		18			(9	)
Israel			840		–			840		112			46		66			5			(4	)		–
Rest of EMEAA			707		(1	)		706		116			55		61			(10	)		(4	)		2
SCA&C
Colombia 2			429		–			429		61			24		37			12			(7	)		22
Panama 2			149		(34	)		115		28			16		12			(2	)		–			–
Caribbean TCL 3			302		(8	)		294		74			17		57			(19	)		(4	)		(1	)
Dominican Republic			348		(6	)		342		133			8		125			(1	)		(1	)		(3	)
Rest of SCA&C 2			394		(1	)		393		90			13		77			(2	)		(2	)		(3	)

Reportable segments								15,137		2,961			1,031		1,930			(410	)		(111	)		16
Other activities 4								440		(280	)		89		(369	)		(57	)		(394	)		135

Consolidated	$							15,577		2,681			1,120		1,561			(467	)		(505	)		151


2021		Sales (including intragroup transactions)		Less: Intragroup transactions			External revenues		Operating EBITDA			Less: Depreciation and amortization		Operating earnings (loss) before other expenses, net			Other expenses, net			Financial expense			Other financing items, net
Mexico	$		3,466		(142	)		3,324		1,164			161		1,003			(43	)		(29	)		2
United States			4,359		(4	)		4,355		778			464		314			(127	)		(47	)		(19	)
EMEAA
United Kingdom			940		–			940		141			69		72			(3	)		(8	)		(17	)
France			863		–			863		93			50		43			(6	)		(11	)		–
Germany			472		(43	)		429		69			28		41			–			(2	)		(2	)
Poland			405		(6	)		399		73			25		48			(4	)		(2	)		1
Spain			359		(25	)		334		(6	)		33		(39	)		(331	)		(3	)		51
Philippines 1			424		–			424		114			40		74			(1	)		17			(2	)
Israel			785		–			785		114			45		69			(1	)		(4	)		2
Rest of EMEAA			618		(5	)		613		87			56		31			(110	)		(3	)		1
SCA&C
Colombia 2			437		–			437		87			26		61			(19	)		(7	)		(12	)
Panama 2			121		(23	)		98		31			16		15			(2	)		–			–
Caribbean TCL 3			280		(7	)		273		65			19		46			(1	)		(6	)		(6	)
Dominican Republic			299		(8	)		291		128			7		121			3			–			(1	)
Rest of SCA&C 2			465		(21	)		444		110			13		97			(5	)		(2	)		(3	)

Reportable segments								14,009		3,048			1,052		1,996			(650	)		(107	)		(5	)
Other activities 4								370		(209	)		68		(277	)		568			(469	)		(156	)

Consolidated	$							14,379		2,839			1,120		1,719			(82	)		(576	)		(161	)

non-controlling

interest in CHP of 10.14% and 22.10%, respectively, of its ordinary shares (note 21.4).

non-controlling

interest in CLH of 0.50% and 4.70% of its ordinary shares, respectively, excluding shares held in CLH’s treasury (note 21.4).

3	The shares of TCL trade on the Trinidad and Tobago Stock Exchange. As of December 31, 2023 and 2022, there was a non-controlling interest in TCL of 30.17% of its ordinary shares in both years (note 21.4).

4	In the caption of external revenues, refers mainly to trade maritime transactions of cement and clinker carried by Cemex’s trading unit and, in the rest of the captions, refers to Cemex’s corporate activities.

Debt by reportable segment is disclosed in note 17.1. As of December 31, 2023 and 2022, the selected statement of financial position information by reportable segment was as follows:


2023		Associates and joint ventures		Other segment assets		Total assets		Total liabilities		Net assets by segment			Capital expenditures 1
Mexico	$		–		5,381		5,381		2,052		3,329			264
United States			216		12,782		12,998		2,770		10,228			521
EMEAA
United Kingdom			6		1,484		1,490		960		530			107
France			41		922		963		467		496			44
Germany			3		506		509		289		220			47
Poland			–		415		415		153		262			44
Spain			–		666		666		212		454			38
Philippines			–		795		795		135		660			85
Israel			–		808		808		507		301			41
Rest of EMEAA			11		852		863		329		534			75
SCA&C
Colombia			–		1,007		1,007		308		699			76
Panama			–		292		292		78		214			13
Caribbean TCL			–		478		478		207		271			18
Dominican Republic			–		233		233		95		138			16
Rest of SCA&C			–		280		280		111		169			25

Reportable segments			277		26,901		27,178		8,673		18,505			1,414
Other activities			452		754		1,206		7,644		(6,438	)		3
Assets held for sale			–		49		49		–		49			–

Total consolidated	$		729		27,704		28,433		16,317		12,116			1,417


2022		Associates and joint ventures		Other segment assets		Total assets		Total liabilities		Net assets by segment			Capital expenditures 1
Mexico	$		–		3,846		3,846		1,381		2,465			265
United States			198		12,425		12,623		2,642		9,981			551
EMEAA
United Kingdom			5		1,388		1,393		921		472			74
France			42		910		952		471		481			57
Germany			3		449		452		255		197			33
Poland			–		341		341		119		222			33
Spain			–		616		616		204		412			27
Philippines			–		792		792		155		637			72
Israel			–		771		771		495		276			37
Rest of EMEAA			10		773		783		303		480			55
SCA&C
Colombia			–		742		742		274		468			45
Panama			–		302		302		88		214			19
Caribbean TCL			–		499		499		218		281			16
Dominican Republic			–		232		232		81		151			18
Rest of SCA&C			–		268		268		104		164			20

Reportable segments			258		24,354		24,612		7,711		16,901			1,322
Other activities			382		1,385		1,767		7,827		(6,060	)		40
Assets held for sale			–		68		68		–		68			–

Total consolidated	$		640		25,807		26,447		15,538		10,909			1,362

1	Capital expenditures represent: a) the purchases of property, machinery and equipment, b) stripping costs, as well as c) assets for the right-of-use incurred during the respective period (notes 15.1 and 15.2) and exclude increases related to asset retirement obligations (note 18.2).

Revenues including intragroup transactions and external customers by line of business and reportable segment for the years ended December 31, 2023, 2022 and 2021, were as follows:


2023		Cement		Concrete		Aggregates		Urbanization solutions		Others		Eliminations			External revenues
Mexico	$		3,378		1,397		399		1,163		13		(1,495	)		4,855
United States			1,988		3,070		1,347		694		14		(1,775	)		5,338
EMEAA
United Kingdom			315		344		376		201		22		(266	)		992
France			–		656		356		17		–		(187	)		842
Germany			227		171		91		38		62		(142	)		447
Poland			331		169		44		6		–		(84	)		466
Spain			326		119		41		25		–		(100	)		411
Philippines			311		–		–		3		1		(3	)		312
Israel			–		662		200		116		2		(186	)		794
Rest of EMEAA			551		288		52		17		23		(165	)		766
SCA&C
Colombia			316		163		48		54		22		(145	)		458
Panama			128		30		9		12		4		(51	)		132
Caribbean TCL			316		5		8		1		4		(17	)		317
Dominican Republic			301		24		–		60		10		(35	)		360
Rest of SCA&C			373		18		5		28		1		(11	)		414

Reportable segments			8,861		7,116		2,976		2,435		178		(4,662	)		16,904
Other activities			–		–		–		–		484		–			484

Consolidated	$															17,388


2022		Cement		Concrete		Aggregates		Urbanization solutions		Others		Eliminations			External revenues
Mexico	$		2,663		925		261		843		14		(1,064	)		3,642
United States			2,017		2,871		1,202		697		12		(1,765	)		5,034
EMEAA
United Kingdom			312		329		371		206		27		(263	)		982
France			–		622		332		15		–		(188	)		781
Germany			220		186		81		32		71		(151	)		439
Poland			282		160		41		4		1		(73	)		415
Spain			281		99		34		25		–		(93	)		346
Philippines			378		–		–		4		–		(3	)		379
Israel			–		718		213		97		21		(209	)		840
Rest of EMEAA			504		260		48		18		26		(150	)		706
SCA&C
Colombia			296		137		40		62		19		(125	)		429
Panama			119		27		7		13		2		(53	)		115
Caribbean TCL			297		4		6		2		5		(20	)		294
Dominican Republic			285		20		–		46		10		(19	)		342
Rest of SCA&C			360		16		3		22		1		(9	)		393

Reportable segments			8,014		6,374		2,639		2,086		209		(4,185	)		15,137
Other activities			–		–		–		–		440		–			440

Consolidated	$															15,577


2021		Cement		Concrete		Aggregates		Urbanization solutions		Others		Eliminations			External revenues
Mexico	$		2,412		733		208		810		14		(853	)		3,324
United States			1,731		2,479		1,005		558		13		(1,431	)		4,355
EMEAA
United Kingdom			270		311		377		200		53		(271	)		940
France			–		682		397		6		–		(222	)		863
Germany			210		204		65		30		69		(149	)		429
Poland			272		154		38		6		1		(72	)		399
Spain			256		93		31		23		–		(69	)		334
Philippines			423		–		–		4		1		(4	)		424
Israel			–		657		199		89		27		(187	)		785
Rest of EMEAA			423		232		47		14		21		(124	)		613
SCA&C
Colombia			309		130		36		58		21		(117	)		437
Panama			103		16		5		7		1		(34	)		98
Caribbean TCL			271		5		7		4		6		(20	)		273
Dominican Republic			240		16		–		44		8		(17	)		291
Rest of SCA&C			400		20		6		24		1		(7	)		444

Reportable segments			7,320		5,732		2,421		1,877		236		(3,577	)		14,009
Other activities			–		–		–		–		370		–			370

Consolidated	$															14,379

Goodwill and Intangible Assets, Net - Summary of Changes in Consolidated goodwill (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure of reconciliation of changes in goodwill [abstract]
Balance at beginning of period	$ 7,538	$ 7,984
Impairment losses (notes 7 and 16.2)	0	(365)
Business combinations (note 4.1)	8	4
Foreign currency translation effects	128	(85)
Balance at end of period	$ 7,674	$ 7,538

Pensions and Post-Employment Benefits

12 Months Ended

Dec. 31, 2023

Pensions and other post-employment benefits

19)	PENSIONS AND POST-EMPLOYMENT BENEFITS

Defined contribution pension plans

The consolidated costs of defined contribution plans for the years ended December 31, 2023, 2022 and 2021 were $64, $59 and $54, respectively. Cemex contributes periodically the amounts offered by the pension plan to the employee’s individual accounts, not retaining any remaining liability as of the financial statements’ date.

Defined benefit pension plans

Most of Cemex’s defined benefit plans have been closed to new participants for several years. Actuarial results related to pension and other post-employment benefits are recognized in earnings and/or in “Other comprehensive income” for the period in which they are generated, as appropriate. For the years ended December 31, 2023, 2022 and 2021, the effects of pension plans and other post-employment benefits are summarized as follows:


		Pensions									Other benefits									Total

Net period cost (income):		2023			2022			2021			2023			2022			2021			2023			2022			2021

Recorded in operating costs and expenses
Service cost	$		7			8			9			4			4			3			11			12			12
Past service cost			–			1			–			–			–			–			–			1			–
Settlements, curtailments and other changes			(10	)		–			(1	)		(1	)		–			(1	)		(11	)		–			(2)

			(3	)		9			8			3			4			2			–			13			10

Recorded in other financial expenses
Net interest cost			36			23			26			8			6			5			44			29			31

Recorded in other comprehensive income
Actuarial losses (gains) for the period			46			(166	)		(257	)		(1	)		(10	)		(6	)		45			(176	)		(263)

	$		79			(134	)		(223	)		10			–			1			89			(134	)		(222)

As of December 31, 2023 and 2022, the reconciliation of the actuarial benefits’ obligations and pension plan assets, are presented as follows:


			Pensions						Other benefits						Total

		2023			2022			2023			2022			2023			2022

Change in benefits obligation:
Projected benefit obligation at beginning of the period	$		1,811			2,685			92			98			1,903			2,783
Service cost			7			8			4			4			11			12
Interest cost			101			66			8			6			109			72
Actuarial losses (gains)			30			(632	)		(1	)		(10	)		29			(642)
Initial valuation from new plan			–			13			–			–			–			13
Reduction from disposal of assets			–			(6	)		–			–			–			(6)
Settlements and curtailments			(2	)		–			–			–			(2	)		–
Plan amendments			(10	)		1			(1	)		–			(11	)		1
Benefits paid			(122	)		(130	)		(8	)		(7	)		(130	)		(137)
Foreign currency translation			94			(194	)		7			1			101			(193)

Projected benefit obligation at end of the period			1,909			1,811			101			92			2,010			1,903

Change in plan assets:
Fair value of plan assets at beginning of the period			1,207			1,783			1			1			1,208			1,784
Return on plan assets			65			43			–			–			65			43
Actuarial losses			(16	)		(466	)		–			–			(16	)		(466)
Employer contributions			97			96			8			7			105			103
Initial valuation from new plan			–			13			–			–			–			13
Settlements			(2	)		–			–			–			(2	)		–
Benefits paid			(122	)		(130	)		(8	)		(7	)		(130	)		(137)
Foreign currency translation			44			(132	)		1			–			45			(132)

Fair value of plan assets at end of the period			1,273			1,207			2			1			1,275			1,208

Net projected liability in the statement of financial position	$		636			604			99			91			735			695

For the years 2023, 2022 and 2021, actuarial (gains) losses for the period were generated by the following main factors as follows:


		2023			2022			2021
Actuarial (gains) losses due to experience	$		13			96			(87	)
Actuarial (gains) losses due to demographic assumptions			(5	)		(2	)		20
Actuarial (gains) losses due to financial assumptions			37			(270	)		(196	)

	$		45			(176	)		(263	)

In 2023, net actuarial losses due to financial assumptions were mainly driven by a decrease in the discount rates applicable to the calculation of the benefits’ obligations in the United Kingdom, the United States, Germany, Colombia and Poland. Moreover, the overall net actual asset performances in most countries were less than the expected returns for a total of $16, of which $31 refers to the United Kingdom, partially offset by a higher performance than expected in Mexico of $12 and the United States of $8. In addition, there was an increase effect in the net projected liability related to adjustments due to experience for $13, mainly in the United Kingdom and Germany.

In 2022, net actuarial gains due to financial assumptions were driven by a general increase in the discount rates applicable to the calculation of the benefits’ obligations in the United Kingdom, the United States, Germany, and Mexico, partially offset by actual returns in plan assets lower than estimated for a total of $466, of which $373 refers to the United Kingdom, $52 to the United States and $19 to Mexico. In addition, there were significant increase effects in the net projected liability related to adjustments due to experience for $96, mainly in the United Kingdom for $77 and Germany for $13. In addition, the net actuarial gains were also driven by a gain in demographic assumptions of $2.

In 2021, net actuarial gains due to financial assumptions were mainly driven by increases in the discount rates in the United Kingdom, the United States, Germany and Mexico. In addition, there were significant reduction effects in the net projected liability related to adjustments due to experience in the United Kingdom, the United States and Germany for a combined amount of $81. Moreover, the net projected liability significantly decreased by actual returns in plan assets higher than estimated returns for a total of $122, of which $86 refers to the United Kingdom, $13 to the United States and $23 to other countries, partially offset by actuarial losses due to demographic assumption of $20, of which $12 refers to the United Kingdom.

As of December 31, 2023 and 2022, based on the hierarchy of fair values, plan assets are detailed as follows:


		2023									2022
		Level 1		Level 2		Level 3		Total			Level 1		Level 2		Level 3		Total
Cash	$		24		–		–		24	$		38		–		–		38
Investments in corporate bonds			11		391		–		402			7		289		–		296
Investments in government bonds			114		209		–		323			90		266		–		356

Total fixed-income securities			149		600		–		749			135		555		–		690

Investment in marketable securities			179		43		–		222			226		42		–		268
Other investments and private funds			70		33		201		304			91		42		117		250

Total variable-income securities			249		76		201		526			317		84		117		518

Total plan assets	$		398		676		201		1,275	$		452		639		117		1,208

The most significant assumptions used in the determination of the benefit obligation were as follows:


	2023						2022
	Mexico			United States	United Kingdom	Range of rates in other countries	Mexico	United States	United Kingdom	Range of rates in other countries
Discount rates		10.50	%	5.20%	4.70%	3.1% – 11.0%	10.50%	5.50%	5.00%	3.6% – 13.0%
Rate of return on plan assets		10.50	%	5.20%	4.70%	3.1% – 11.0%	10.50%	5.50%	5.00%	3.6% – 13.0%
Rate of salary increases		4.50	%	–	3.10%	2.5% – 7.3%	4.50%	–	3.25%	2.5% – 7.3%

As of December 31, 2023, estimated payments for pensions and other post-employment benefits over the next 10 years were as follows:


		Estimated payments
2024	$		173
2025			149
2026			151
2027			148
2028 – 2033			882

As of December 31, 2023 and 2022, the aggregate projected benefit obligation (“PBO”) for pension plans and other post-employment benefits and the plan assets by country were as follows:


		2023								2022
		PBO		Assets		Deficit				PBO		Assets		Deficit
Mexico	$		253		44		209		$		220		25		195
United States			184		188		(4	)			194		166		28
United Kingdom			1,129		821		308				1,062		791		271
Germany			141		6		135				134		6		128
Other countries			303		216		87				293		220		73

	$		2,010		1,275		735		$		1,903		1,208		695

In some countries, Cemex has established health care benefits for retired personnel limited to a certain number of years after retirement. As of December 31, 2023 and 2022, the projected benefits obligation related to these benefits was $57 and $60, respectively, included within other benefits liability. The medical inflation rates used to determine the projected benefits obligation of these benefits in 2023 and 2022 for Mexico were 8% in both years, for Puerto Rico 6.6% and 5.4%, respectively, for the United Kingdom were 6.6% and 6.8%, respectively, and for TCL was a rate range between 5.0% and 9.0% and 5.0% and 13.0%, respectively.

Significant events of settlements or curtailments related to employees’ pension benefits and other post-employment benefits during the reported periods

In 2023, as a result of an extension in the retirement age for the Company’s operations in Mexico, there was a reduction of $11 in the retirement obligations recognized against the statement of income for the period. Additionally, in France, there was a pension reform that increased the legal minimum retirement age, resulting in a total past service amendment of $1 in its pension plan recognized in the statement of income for the period.

During 2022, there were no significant settlements or curtailments related to employees’ pension benefits and other post-employment benefits.

In 2021, as an effect of a sale of assets in France (note 4.2), there was a curtailment gain of $1 in its pension plan recognized in the statement of income for the period. In addition, one of the participating companies in other postretirement benefits of TCL ceased operations in February 2021, resulting in a curtailment gain in other postretirement benefits of $1 reflected in the statement of income for the period.

Sensitivity analysis of pension and other post-employment benefits

As of December 31, 2023, Cemex performed sensitivity analyses on the most significant assumptions that affect the PBO, considering reasonable independent changes of plus or minus 50 basis points in each of these assumptions. The increase (decrease) that would have resulted in the PBO of pensions and other post-employment benefits are shown below:


		Pensions						Other benefits						Total
Assumptions:		+50 bps			-50 bps			+50 bps			-50 bps			+50 bps			-50 bps
Discount Rate Sensitivity	$		(95	)		104			(4	)		4			(99	)		108
Salary Increase Rate Sensitivity			4			(4	)		1			(1	)		5			(5	)
Pension Increase Rate Sensitivity			73			(68	)		–			–			73			(68	)

Multiemployer defined benefit pension plans

In addition to the Company’s sponsored plans, Cemex contributes to union-sponsored multiemployer retirement defined benefit pension plans (the “Multiemployer Plans”) under the terms of collective bargaining agreements for certain union employees in the United States and the United Kingdom. The Company’s main risks of participating in Multiemployer Plans are different from its single-employer plans in the following aspects:

Assets contributed to the Multiemployer Plans by one employer may be used to provide benefits to employees of other participating employers;

If a participating employer stops contributing to the Multiemployer Plans, the unfunded obligations of the Multiemployer Plans may be borne by the remaining participating employers; and

If Cemex chooses to stop participating in the Multiemployer Plans, the Company may be required to pay the Multiemployer Plans an amount based on the underfunded status of the Multiemployer Plans, referred to as a withdrawal liability.

The Company’s funding arrangements, rate of contributions and funding requirements were made in accordance with the contractual multiemployer agreements. The combined amounts contributed to the Multiemployer Plans were $20 in 2023, $21 in 2022 and $17 in 2021. The Company expects to contribute $21 to the Multiemployer Plans in 2024.

Among other factors, Multiemployers Plans in the red zone (critical) are generally less than 65% funded, Multiemployers Plans in the yellow zone (endangered) are less than 80% funded and Multiemployers Plans in the green zone (neither critical and declining, critical, or endangered) are at least 80% funded. Over 99% of Cemex’s obligations and contributions under the Multiemployer Plans are related to the United States where 422 former employees are beneficiaries and where, according to data obtained from Multiemployer Plans actuary, most of the plans are considered to be in the green zone and one plan is in the yellow zone. As a result, the Company’s risk of increasing contributions is considered low. In the United Kingdom, the Multiemployer Plan, which covers only two of Cemex’

former employees, is in the green zone. In both the United States and the United Kingdom, Cemex is a very small participant in the applicable Multiemployer Plans.

Executive Share-Based Compensation - Summary of Share-Based Compensation Programs (Detail) - CEMEX Latam Holdings, S.A [member] - ADR [Member] - Executive Officer [Member]
$ / shares in Units, $ in Millions

12 Months Ended

Dec. 31, 2023

USD ($)

$ / shares

Dec. 31, 2022

Dec. 31, 2021

Disclosure of Terms and Conditions of Share-based Payment Arrangement [Line Items]

16,441,800

10,920,500

9,333,400

$ 795,900

ADSs Based On Service And Performance Of The Executives [Member] | Performance Plan 2018 [Member]

^[1]

$ 19,974,400

Disclosure of Terms and Conditions of Share-based Payment Arrangement [Line Items]

1,521,900

^[2]

$ 6.3

149.00%

$ 14.3

2,368,400

$ 61,400

ADSs Based On Service And Performance Of The Executives [Member] | Performance Plan 2019 [Member]

^[1]

$ 0

Disclosure of Terms and Conditions of Share-based Payment Arrangement [Line Items]

2,303,000

^[2]

$ 4.4

130.00%

$ 13.2

3,062,800

$ 57,700

ADSs Based On Service And Performance Of The Executives [Member] | Performance Plan 2020 [Member]

^[1]

$ 0

Disclosure of Terms and Conditions of Share-based Payment Arrangement [Line Items]

4,146,000

^[2]

$ 2.3

155.00%

$ 14.8

8,448,200

$ 0

ADSs Based On Service And Performance Of The Executives [Member] | Performance Plan 2021 [Member]

^[1]

$ 0

Disclosure of Terms and Conditions of Share-based Payment Arrangement [Line Items]

1,227,200

^[2]

$ 8

150.00%

$ 14.7

$ 0

ADSs Based On Service And Performance Of The Executives [Member] | Performance Plan 2022 [Member]

^[1]

$ 1,840,800

Disclosure of Terms and Conditions of Share-based Payment Arrangement [Line Items]

2,403,600

^[2]

$ 4.3

149.00%

$ 15.4

$ 0

ADSs Based On Service And Performance Of The Executives [Member] | Performance Plan 2023 [Member]

^[1]

$ 3,571,700

Disclosure of Terms and Conditions of Share-based Payment Arrangement [Line Items]

2,825,400

^[2]

$ 6.4

145.00%

$ 26.1

$ 0

ADSs Based On The Service Of The Executives [Member] | Ordinary Plans 2017 [Member]

^[1]

$ 4,094,100

Disclosure of Terms and Conditions of Share-based Payment Arrangement [Line Items]

2,704,400

^[2]

$ 8.9

100.00%

$ 23.9

19,100

$ 103,900

ADSs Based On The Service Of The Executives [Member] | Ordinary Plans 2018 [Member]

^[1]

$ 0

Disclosure of Terms and Conditions of Share-based Payment Arrangement [Line Items]

5,304,200

^[2]

$ 6.5

100.00%

$ 34.5

968,700

$ 139,200

ADSs Based On The Service Of The Executives [Member] | Ordinary Plans 2019 [Member]

^[1]

$ 0

Disclosure of Terms and Conditions of Share-based Payment Arrangement [Line Items]

8,048,200

^[2]

$ 4.7

100.00%

$ 37.5

42,400

1,521,400

1,725,000

$ 118,300

ADSs Based On The Service Of The Executives [Member] | Ordinary Plans 2020 [Member]

^[1]

$ 0

Disclosure of Terms and Conditions of Share-based Payment Arrangement [Line Items]

11,162,200

^[2]

$ 2.5

100.00%

$ 28.1

2,293,000

2,370,900

2,617,600

$ 253,700

ADSs Based On The Service Of The Executives [Member] | Ordinary Plans 2021 [Member]

^[1]

$ 0

Disclosure of Terms and Conditions of Share-based Payment Arrangement [Line Items]

5,716,600

^[2]

$ 7.2

100.00%

$ 41.3

1,442,700

1,465,600

1,634,600

$ 39,300

ADSs Based On The Service Of The Executives [Member] | Ordinary Plans 2022 [Member]

^[1]

$ 1,232,200

Disclosure of Terms and Conditions of Share-based Payment Arrangement [Line Items]

9,483,000

^[2]

$ 4.9

100.00%

$ 46.0

2,450,500

2,499,800

$ 22,400

ADSs Based On The Service Of The Executives [Member] | Ordinary Plans 2023 [Member]

^[1]

$ 4,468,800

Disclosure of Terms and Conditions of Share-based Payment Arrangement [Line Items]

6,531,900

^[2]

$ 5.9

100.00%

$ 38.4

1,765,000

$ 0

^[1]

$ 4,766,800

[1]	Until the final payout of the Performance Plans is determined after the conclusion of the three-year period for award, the number of ADSs outstanding assumes a payout considering the same percentage determined by the option pricing model.
[2]	Average ADS price of the awards at the date of grant.

Cover Page	12 Months Ended
Cover Page	Dec. 31, 2023 shares
Document Information [Line Items]
Document Type	20-F
Amendment Flag	false
Document Period End Date	Dec. 31, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Trading Symbol	CX
Title of 12(b) Security	American Depositary Shares
Security Exchange Name	NYSE
Entity Registrant Name	CEMEX SAB DE CV
Entity Central Index Key	0001076378
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	14,490,870,243
Entity Voluntary Filers	No
Entity Interactive Data Current	Yes
Entity Address, Country	MX
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
ICFR Auditor Attestation Flag	true
Document Registration Statement	false
Document Accounting Standard	International Financial Reporting Standards
Entity File Number	1-14946
Entity Incorporation, State or Country Code	O5
Entity Address, Address Line One	Avenida Ricardo Margáin Zozaya #325
Entity Address, Address Line Two	Colonia Valle del Campestre
Entity Address, Address Line Three	San Pedro Garza García
Entity Address, City or Town	Nuevo León
Entity Address, Postal Zip Code	66265
Auditor Name	KPMG Cárdenas Dosal, S.C
Auditor Firm ID	1141
Auditor Location	Nuevo León, México
Document Financial Statement Error Correction [Flag]	false
Business Contact [Member]
Document Information [Line Items]
Entity Address, Country	MX
Entity Address, Address Line One	Avenida Ricardo Margáin Zozaya #325
Entity Address, Address Line Two	Colonia Valle del Campestre
Entity Address, Address Line Three	San Pedro Garza García
Entity Address, City or Town	Nuevo León
Entity Address, Postal Zip Code	66265
Contact Personnel Name	Roger Saldaña Madero
Contact Personnel Fax Number	+52 81 8888-4399
Country Region	+52
City Area Code	81
Local Phone Number	8888-8888
Series A Shares [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	29,016,656,496
Series B Shares [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	14,508,328,248

Contingencies - Additional Information (Detail) $ in Thousands				1 Months Ended	12 Months Ended
	Nov. 25, 2020 USD ($)	Aug. 20, 2020 USD ($)	Nov. 19, 2018 Individuals Entity	Sep. 30, 2018	Dec. 31, 2023 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2012 USD ($) Employees	Dec. 31, 2011 Employees	Dec. 31, 2023 $ / PerTon	Dec. 31, 2023 $ / PerMetreCube
Disclosure of Commitments and Contingencies [Line Items]
Accrued environmental remediation liabilities					$ 208,000
Number of former employees \| Employees							25	25
Amount of damages and interest identified							$ 61,000
Accrued Provision For Remediation Costs						$ 1,000
Loss Contingency, Damages Value		$ 342,000
United Kingdom [member]
Disclosure of Commitments and Contingencies [Line Items]
Loss of profit	$ 700
Quarry Backfilling Costs	$ 14,000
United States [member]
Disclosure of Commitments and Contingencies [Line Items]
Accrued environmental remediation liabilities					45,000
APO Land & Quarry Corporation [member]
Disclosure of Commitments and Contingencies [Line Items]
Minority interest percentage				40.00%
Number of individuals filed lawsuit \| Individuals			40
Number of entities \| Entity			1
Number of individuals affected by landslide \| Individuals			8,000
Loss contingency					78,000
APO Land & Quarry Corporation [member] \| Rehabilitation fund [member]
Disclosure of Commitments and Contingencies [Line Items]
Loss contingency					$ 9,000
Top of range [member] \| MEXICO \| Levies On The Extraction Of Raw Materials [Member]
Disclosure of Commitments and Contingencies [Line Items]
Levies per unit									34.2	9.17
Top of range [member] \| United Kingdom [member]
Disclosure of Commitments and Contingencies [Line Items]
Environmental expenditure assessment and quantification period from the date of closure, maximum					60 years
Bottom of range [member] \| MEXICO \| Levies On The Extraction Of Raw Materials [Member]
Disclosure of Commitments and Contingencies [Line Items]
Levies per unit									2.5	0.67

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

12 Months Ended

Dec. 31, 2023

Detailed Information About In Property Plant Equipment Right Of Use Assets

As of December 31, 2023 and 2022, property, machinery and equipment, net and assets for the

right-of-use,

net were summarized as follows:


		2023		2022
Property, machinery and equipment, net	$		11,272		10,156
Assets for the right-of-use, net			1,194		1,128

	$		12,466		11,284

Summary of Average Useful Lives by Category of Fixed Assets

As of December 31, 2023, the average useful lives by category of fixed assets, which are reviewed

each reporting date, were as follows:


		Years
Administrative buildings		30
Industrial buildings		25
Machinery and equipment in plant		16
Ready-mix trucks and motor vehicles		11
Office equipment and other assets		7

Disclosure of Net Change in Property, Machinery and Equipment

As of December 31, 2023 and 2022, consolidated property, machinery and equipment, net and the changes in this line item during 2023 and 2022, were as follows:


		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
Disposals 3			(31)		(2)		(75)		–		(108)
Business combinations (note 4.1)			13		4		22		–		39
Depreciation and depletion for the period			(141)		(80)		(653)		–		(874)
Impairment losses (note 7)			(16)		(2)		(18)		–		(36)
Asset retirement obligations (note 18.2)			–		20		44		–		64
Foreign currency translation effects			399		124		369		63		955

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


		2022

		Land and mineral reserves			Building			Machinery and equipment			Construction in progress 2			Total

Cost at beginning of period	$		4,801			2,532			11,727			1,262			20,322
Accumulated depreciation and depletion			(1,226	)		(1,494	)		(7,400	)		–			(10,120)

Net book value at beginning of period			3,575			1,038			4,327			1,262			10,202
Capital expenditures			126			52			406			457			1,041
Stripping costs 1			25			–			–			–			25

Total capital expenditures			151			52			406			457			1,066
Disposals 3			(4	)		(4	)		(22	)		–			(30)
Business combinations (note 4.1)			32			1			9			1			43
Depreciation and depletion for the period			(153	)		(78	)		(493	)		–			(724)
Impairment losses (note 7)			(12	)		(8	)		(55	)		(2	)		(77)
Asset retirement obligations (note 18.2)			–			5			17			–			22
Foreign currency translation effects			(83	)		(177	)		(36	)		(50	)		(346)

Cost at end 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 end of period	$		3,506			829			4,153			1,668			10,156

units-of-production

method.

3	In 2023 includes sales of non-strategic fixed assets in the United States and France for $23 and $16, respectively, among others. In 2022 includes sales of non-strategic fixed assets in the United States and the United Kingdom for $5 in each country, among others.

Summary of Recognized Impairment Losses

During the years ended December 31, 2023, 2022 and 2021 impairment losses of fixed assets by country are as follows:


		2023		2022		2021

Colombia	$		8		–		10
Caribbean TCL			7		14		–
France			6		–		–
United Kingdom			5		10		5
United States			3		26		18
Spain			2		23		–
Others			5		4		10

	$		36		77		43

Asset for the Right of Use,Net

As of December 31, 2023 and 2022, consolidated

asset

s for the

right-of-use,

net and the changes in this caption during 2023 and 2022, were as follows:


		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			(15	)		(36	)		(141	)		(12	)		(204)
Foreign currency translation effects			13			21			(68	)		(8	)		(42)

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


								2022

		Land			Buildings			Machinery and equipment			Others			Total

Assets for the right-of-use at beginning of period	$		395			401			1,513			21			2,330
Accumulated depreciation			(147	)		(205	)		(845	)		(13	)		(1,210)

Net book value at beginning of period			248			196			668			8			1,120
Additions of new leases			45			21			207			23			296
Cancellations and remeasurements, net			(15	)		(27	)		(82	)		(1	)		(125)
Depreciation			(1	)		(77	)		(165	)		(15	)		(258)
Foreign currency translation effects			20			19			48			8			95

Assets for the right-of-use at end of period			439			335			1,570			55			2,399
Accumulated depreciation			(142	)		(203	)		(894	)		(32	)		(1,271)

Net book value at end of period	$		297			132			676			23			1,128

For the years ended December 31, 2023, 2022 and 2021, the combined rental expense

with short-term leases, leases of

low-value

sub-leasing

activities.

Income Taxes - Summary of Current and Deferred Income Tax Relative to Items of Other Comprehensive Income Loss (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income tax relating to components of other comprehensive income [abstract]
Expense (benefit) related to foreign exchange fluctuations from intercompany balances (note 21.2)	$ 5	$ 0	$ (6)
Expense (benefit) associated to actuarial results (note 21.2)	(5)	32	26
Benefit related to derivative financial instruments (note 17.4)	(41)	(30)	(1)
Expense (benefit) from foreign currency translation and other effects	35	12	(63)
Total current and deferred income tax relative to items of other comprehensive income (loss)	$ (6)	$ 14	$ (44)

Investments In Associates And Joint Ventures, Other Investments And Non-Current Accounts Receivable - Summary of Main Investments in Common Shares of Associates and Joint Ventures (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure of associates [line items]
Investments	$ 729	$ 640
Acquisition cost	330	302
Equity method recognition	$ 399	338
Camcem [member]
Disclosure of associates [line items]
Name of associate	Camcem, S.A. de C.V.
Activity	Cement
Country	Mexico
Investment, percentage	40.10%
Investments	$ 364	306
Concrete Supply Co. LLC [member]
Disclosure of associates [line items]
Name of associate	Concrete Supply Co. LLC
Activity	Concrete
Country	United States
Investment, percentage	40.00%
Investments	$ 103	96
Lehigh White Cement Company [member]
Disclosure of associates [line items]
Name of associate	Lehigh White Cement Company
Activity	Cement
Country	United States
Investment, percentage	36.80%
Investments	$ 83	76
Neoris NV [member]
Disclosure of associates [line items]
Name of associate	Neoris N.V.
Activity	Technology
Country	The Netherlands
Investment, percentage	34.80%
Investments	$ 69	62
Societe d Exploitation de Carrieres [member]
Disclosure of associates [line items]
Name of joint venture	Société d’Exploitation de Carrières
Activity	Aggregates
Country	France
Investment, percentage	50.00%
Investments	$ 24	23
Societe Meridionale de Carrieres [member]
Disclosure of associates [line items]
Name of joint venture	Société Méridionale de Carrières
Activity	Aggregates
Country	France
Investment, percentage	33.30%
Investments	$ 13	12
Other companies [member]
Disclosure of associates [line items]
Name of joint venture	Other companies
Investments	$ 73	$ 65

Trade Accounts Receivable - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Trade Accounts Receivable [line items]
Receivables	$ 1,751	$ 1,644
Other financial obligations	950	936
Securitization programs [member]
Disclosure Of Trade Accounts Receivable [line items]
Receivables	848	828
Other financial obligations	678	678
Financial expense	$ 52	$ 24	$ 11

Income Taxes - Schedule of Reconciliation Between Actual Income Tax Expense and Amount Computed by Applying Statutory Tax Rate (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of accounting profit multiplied by applicable tax rates [abstract]
Mexican statutory tax rate value	30.00%	30.00%	30.00%
Income tax penalties in Spain (note 20.4)	42.80%	0.00%	0.00%
Difference between accounting and tax expenses, net	0.40%	35.80%	4.80%
Non-taxable sale of equity securities and fixed assets	(1.20%)	3.40%	(3.80%)
Difference between book and tax inflation	8.30%	28.20%	23.90%
Differences in the income tax rates in the countries where Cemex operates	7.10%	(6.20%)	4.70%
Changes in deferred tax assets	(3.90%)	(59.70%)	(48.70%)
Changes in provisions for uncertain tax positions	0.10%	(5.10%)	2.60%
Others	2.70%	0.70%	0.90%
Effective consolidated income tax expense rate	86.30%	27.10%	14.40%
Mexican statutory tax rate	$ 435	$ 231	$ 280
Income tax penalties in Spain (note 20.4)	620	0	0
Difference between accounting and tax expenses, net	6	276	45
Non-taxable sale of equity securities and fixed assets	(17)	26	(35)
Difference between book and tax inflation	120	217	223
Differences in the income tax rates in the countries where Cemex operates	103	(48)	44
Changes in deferred tax assets	(57)	(460)	(454)
Changes in provisions for uncertain tax positions	1	(39)	24
Others	39	6	10
Effective consolidated income tax expense rate	$ 1,250	$ 209	$ 137

Operating Expenses - Summary of Consolidated Operating Expense (Detail) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Analysis of income and expense [abstract]

Administrative expenses

^[1],[2]

$ 1,385

$ 1,074

$ 958

Selling expenses

^[2]

411

363

322

Total administrative and selling expenses

1,796

1,437

1,280

Distribution and logistics expenses

1,951

1,824

1,637

Total operating expenses

$ 3,747

$ 3,261

$ 2,917

[1]	All significant research and development activities are executed by several internal areas of Cemex as part of their daily activities. In 2023, 2022 and 2021, the total combined expenses of these departments recognized within administrative expenses were $55, $42 and $44, respectively.
[2]	In 2023, 2022 and 2021, administrative expenses include depreciation and amortization of $162, $140 and $137, respectively, and selling expenses include depreciation and amortization of $54 in 2023, $51 in 2022 and $49 in 2021.

Cash and Cash Equivalents - Summary of Cash and Cash Equivalents (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash and cash equivalents [abstract]
Cash and bank accounts	$ 363	$ 297
Fixed-income securities and other cash equivalents	261	198
Consolidated cash and cash equivalents	$ 624	$ 495	$ 613	$ 950

Goodwill and Intangible Assets, Net (Tables)

12 Months Ended

Dec. 31, 2023

Summary of Consolidated Goodwill, Intangible Assets and Deferred Charges

As of December 31, 2023 and 2022, consolidated goodwill, intangible assets and deferred charges were summarized as follows:


		2023								2022

		Cost		Accumulated amortization			Carrying amount			Cost		Accumulated amortization			Carrying amount

Intangible assets of indefinite useful life:
Goodwill	$		7,674		–			7,674	$		7,538		–			7,538
Intangible assets of definite useful life:
Extraction rights			1,768		(479	)		1,289			1,729		(452	)		1,277
Internally developed software			973		(639	)		334			820		(534	)		286
Customer relationships			196		(196	)		–			196		(196	)		–
Mining projects			47		(7	)		40			39		(6	)		33
Industrial property and trademarks			32		(16	)		16			32		(15	)		17
Other intangible assets			357		(180	)		177			305		(163	)		142

	$		11,047		(1,517	)		9,530	$		10,659		(1,366	)		9,293

Summary of Changes in Consolidated goodwill

Changes in consolidated goodwill for the years ended December 31, 2023 and 2022, were as follows:


		2023		2022

Balance at beginning of period	$		7,538		7,984
Impairment losses (notes 7 and 16.2)			–		(365)
Business combinations (note 4.1)			8		4
Foreign currency translation effects			128		(85)

Balance at end of period	$		7,674		7,538

Summary of Changes in Intangible Asset

Changes in intangible assets of definite life in 2023 and 2022, were as follows:


		2023

		Extraction rights			Internally developed software 1			Mining projects			Industrial property and trademarks			Others			Total

Balance at beginning of period	$		1,277			286			33			17			142			1,755
Amortization for the period			(42	)		(91	)		(1	)		(1	)		(20	)		(155)
Impairment losses (note 7)			(7	)		–			–			–			–			(7)
Additions (decreases), net 1			2			148			7			2			48			207
Business combinations			26			–			–			–			–			26
Foreign currency translation effects			33			(9	)		1			(2	)		7			30

Balance at the end of period	$		1,289			334			40			16			177			1,856


		2022

		Extraction rights			Internally developed software 1			Mining projects			Industrial property and trademarks			Others			Total

Balance at beginning of period	$		1,350			228			45			23			133			1,779
Amortization for the period			(44	)		(73	)		(1	)		(7	)		(13	)		(138)
Additions (decreases), net 1			(10	)		136			(10	)		–			35			151
Foreign currency translation effects			(19	)		(5	)		(1	)		1			(13	)		(37)

Balance at the end of period	$		1,277			286			33			17			142			1,755

1	Includes the capitalized direct costs incurred in the development stage of internal-use software, such as professional fees, direct labor and related travel expenses. The capitalized amounts are amortized to the statement of income over a period ranging from 3 to 5 years.

Summary of Goodwill Balances Allocated by Operating Segment

As of December 31, 2023 and 2022, goodwill balances allocated by Operating Segment after impairment adjustments were as follows:


		2023	2022

Mexico	$	441	384
United States		6,176	6,176
EMEAA
United Kingdom		264	250
France		207	201
Spain		59	57
Philippines		82	82
Rest of EMEAA 1		50	38
SCA&C
Colombia		254	202
Caribbean TCL		83	83
Rest of SCA&C 2		58	65

	$	7,674	7,538

1	This caption refers to the operating segments in Israel, the Czech Republic, Egypt and Germany.

2	This caption refers to the operating segments in the Dominican Republic, the Caribbean and Panama.

Summary of Pre-tax Discount Rates and Long-term Growth Rates Used to Determine the Discounted Cash Flows

As of December 31, 2023, 2022 and 2021, Cemex’s

pre-tax

discount rates and long-term growth rates used to determine the discounted cash flows in the group of CGUs with the main goodwill balances were as follows:


	Discount rates			Long-term growth rates 1

Groups of CGUs	2023	2022	2021	2023	2022	2021

United States	10.1%	9.1%	7.2%	2.0%	2.0%	2.0%
United Kingdom	10.4%	9.1%	7.3%	1.5%	1.5%	1.5%
France	10.4%	9.2%	7.3%	1.5%	1.4%	1.4%
Spain	10.7%	9.4%	7.6%	1.6%	1.7%	1.5%
Mexico	11.6%	10.3%	8.4%	1.0%	1.1%	1.0%
Colombia	12.7%	10.9%	8.5%	3.3%	3.3%	3.5%
Range of rates in other countries	10.3% – 17.0%	9.3% – 13.9%	7.4% – 11.7%	1.5% – 6.4%	1.5% – 6.0%	1.7% – 6.0%

1	The long-term growth rates are generally based on projections issued by the International Monetary Fund (“IMF”).

Summary Of Operating Segments Presenting Impairment Charges Or Relative Impairment Risk

Impairment effects from the sensitivity analyses to
changes in assumptions as of December 31, 2023

Operating segment

Impairment
losses
recognized

Discount rate

+1%

Long-term

growth rate

–1%

Multiples
Operating
EBITDA

10.9x

United States

–

357

–

Trade Accounts Receivable - Summary of Trade Accounts Receivable (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Trade and other receivables [abstract]
Trade accounts receivable	$ 1,841	$ 1,735
Allowances for expected credit losses	(90)	(91)	$ (101)	$ (121)
Trade receivables	$ 1,751	$ 1,644

Financial Instruments - Summary of Derivative Financial Instruments (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Disclosure of detailed information about financial instruments [line items]
Derivative financial instrument, Notional amount	$ 2,593	$ 2,491
Derivative financial instrument, Fair value	(26)	32
Net Investment Hedges [member]
Disclosure of detailed information about financial instruments [line items]
Derivative financial instrument, Notional amount	976	837
Derivative financial instrument, Fair value	(94)	(48)
Currency swap contract [member]
Disclosure of detailed information about financial instruments [line items]
Derivative financial instrument, Notional amount	335
Derivative financial instrument, Fair value	23
Interest Rate Swap Contract [Member]
Disclosure of detailed information about financial instruments [line items]
Derivative financial instrument, Notional amount	750	1,018
Derivative financial instrument, Fair value	30	54
Fuels Price Hedging [Member]
Disclosure of detailed information about financial instruments [line items]
Derivative financial instrument, Notional amount	232	136
Derivative financial instrument, Fair value	5	8
Foreign Exchange Options [Member]
Disclosure of detailed information about financial instruments [line items]
Derivative financial instrument, Notional amount	300	500
Derivative financial instrument, Fair value	$ 10	$ 18

Income Taxes - Summary of Tax Loss and Tax Credits (Detail) $ in Millions	Dec. 31, 2023 USD ($)
Tax Loss Carry Forwards [Member]
Disclosure of Income Taxes [Line Items]
2024	$ 29
2025	48
2026	141
2027	318
2028 and thereafter	7,591
Tax Loss And Tax Credits, Total	8,127
Amount of unrecognized carryforwards [Member]
Disclosure of Income Taxes [Line Items]
2024	29
2025	46
2026	131
2027	286
2028 and thereafter	5,839
Tax Loss And Tax Credits, Total	6,331
Amount of recognized carryforwards [Member]
Disclosure of Income Taxes [Line Items]
2024	0
2025	2
2026	10
2027	32
2028 and thereafter	1,752
Tax Loss And Tax Credits, Total	$ 1,796

Other Current Assets - Summary of Detailed Information About Other Current Assets (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Disclosure of Detailed Information About Other Current Assets [Abstract]
Other current assets	$ 142	$ 115
Assets held for sale	49	68
Total	$ 191	$ 183

Pensions and Post-Employment Benefits (Tables)

12 Months Ended

Dec. 31, 2023

Schedule Actuarial Results Related to Pension and Other Post Retirement Benefits

For the years ended December 31, 2023, 2022 and 2021, the effects of pension plans and other post-employment benefits are summarized as follows:


		Pensions									Other benefits									Total

Net period cost (income):		2023			2022			2021			2023			2022			2021			2023			2022			2021

Recorded in operating costs and expenses
Service cost	$		7			8			9			4			4			3			11			12			12
Past service cost			–			1			–			–			–			–			–			1			–
Settlements, curtailments and other changes			(10	)		–			(1	)		(1	)		–			(1	)		(11	)		–			(2)

			(3	)		9			8			3			4			2			–			13			10

Recorded in other financial expenses
Net interest cost			36			23			26			8			6			5			44			29			31

Recorded in other comprehensive income
Actuarial losses (gains) for the period			46			(166	)		(257	)		(1	)		(10	)		(6	)		45			(176	)		(263)

	$		79			(134	)		(223	)		10			–			1			89			(134	)		(222)

Disclosure of Net Defined Benefit Liability (Asset)

As of December 31, 2023 and 2022, the reconciliation of the actuarial benefits’ obligations and pension plan assets, are presented as follows:


			Pensions						Other benefits						Total

		2023			2022			2023			2022			2023			2022

Change in benefits obligation:
Projected benefit obligation at beginning of the period	$		1,811			2,685			92			98			1,903			2,783
Service cost			7			8			4			4			11			12
Interest cost			101			66			8			6			109			72
Actuarial losses (gains)			30			(632	)		(1	)		(10	)		29			(642)
Initial valuation from new plan			–			13			–			–			–			13
Reduction from disposal of assets			–			(6	)		–			–			–			(6)
Settlements and curtailments			(2	)		–			–			–			(2	)		–
Plan amendments			(10	)		1			(1	)		–			(11	)		1
Benefits paid			(122	)		(130	)		(8	)		(7	)		(130	)		(137)
Foreign currency translation			94			(194	)		7			1			101			(193)

Projected benefit obligation at end of the period			1,909			1,811			101			92			2,010			1,903

Change in plan assets:
Fair value of plan assets at beginning of the period			1,207			1,783			1			1			1,208			1,784
Return on plan assets			65			43			–			–			65			43
Actuarial losses			(16	)		(466	)		–			–			(16	)		(466)
Employer contributions			97			96			8			7			105			103
Initial valuation from new plan			–			13			–			–			–			13
Settlements			(2	)		–			–			–			(2	)		–
Benefits paid			(122	)		(130	)		(8	)		(7	)		(130	)		(137)
Foreign currency translation			44			(132	)		1			–			45			(132)

Fair value of plan assets at end of the period			1,273			1,207			2			1			1,275			1,208

Net projected liability in the statement of financial position	$		636			604			99			91			735			695

Summary of Actuarial (Gains) Losses

For the years 2023, 2022 and 2021, actuarial (gains) losses for the period were generated by the following main factors as follows:


		2023			2022			2021
Actuarial (gains) losses due to experience	$		13			96			(87	)
Actuarial (gains) losses due to demographic assumptions			(5	)		(2	)		20
Actuarial (gains) losses due to financial assumptions			37			(270	)		(196	)

	$		45			(176	)		(263	)

Summary of Plan Assets Measured at Estimated Fair Value

As of December 31, 2023 and 2022, based on the hierarchy of fair values, plan assets are detailed as follows:


		2023									2022
		Level 1		Level 2		Level 3		Total			Level 1		Level 2		Level 3		Total
Cash	$		24		–		–		24	$		38		–		–		38
Investments in corporate bonds			11		391		–		402			7		289		–		296
Investments in government bonds			114		209		–		323			90		266		–		356

Total fixed-income securities			149		600		–		749			135		555		–		690

Investment in marketable securities			179		43		–		222			226		42		–		268
Other investments and private funds			70		33		201		304			91		42		117		250

Total variable-income securities			249		76		201		526			317		84		117		518

Total plan assets	$		398		676		201		1,275	$		452		639		117		1,208

Summary of Significant Assumptions Used in the Determination of the Benefit Obligation

The most significant assumptions used in the determination of the benefit obligation were as follows:


	2023						2022
	Mexico			United States	United Kingdom	Range of rates in other countries	Mexico	United States	United Kingdom	Range of rates in other countries
Discount rates		10.50	%	5.20%	4.70%	3.1% – 11.0%	10.50%	5.50%	5.00%	3.6% – 13.0%
Rate of return on plan assets		10.50	%	5.20%	4.70%	3.1% – 11.0%	10.50%	5.50%	5.00%	3.6% – 13.0%
Rate of salary increases		4.50	%	–	3.10%	2.5% – 7.3%	4.50%	–	3.25%	2.5% – 7.3%

Schedule of Estimated Payments for Pensions and Other Post-Employment Benefits

As of December 31, 2023, estimated payments for pensions and other post-employment benefits over the next 10 years were as follows:


		Estimated payments
2024	$		173
2025			149
2026			151
2027			148
2028 – 2033			882

Aggregate Projected Benefit Obligation for Pension Plans and Other Post-Employment Benefits and the Plan Assets by Country

As of December 31, 2023 and 2022, the aggregate projected benefit obligation (“PBO”) for pension plans and other post-employment benefits and the plan assets by country were as follows:


		2023								2022
		PBO		Assets		Deficit				PBO		Assets		Deficit
Mexico	$		253		44		209		$		220		25		195
United States			184		188		(4	)			194		166		28
United Kingdom			1,129		821		308				1,062		791		271
Germany			141		6		135				134		6		128
Other countries			303		216		87				293		220		73

	$		2,010		1,275		735		$		1,903		1,208		695

Schedule of Sensitivity Analysis of Pension and Other Post Employment Benefits


		Pensions						Other benefits						Total
Assumptions:		+50 bps			-50 bps			+50 bps			-50 bps			+50 bps			-50 bps
Discount Rate Sensitivity	$		(95	)		104			(4	)		4			(99	)		108
Salary Increase Rate Sensitivity			4			(4	)		1			(1	)		5			(5	)
Pension Increase Rate Sensitivity			73			(68	)		–			–			73			(68	)

Financial Instruments - Additional Information - Other Financial Obligations (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of detailed information about financial instruments [line items]
Leases	$ 331	$ 342	$ 381
Cash flows from used in securitization program	(18)	79	$ 25
Other Financial Obligations [member]
Disclosure of detailed information about financial instruments [line items]
Recourse of accounts receivable	$ 678	$ 678

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

12 Months Ended

Dec. 31, 2023

Summary of Main Investments in Common Shares of Associates

As of December 31, 2023 and 2022, the investments in common shares of associates and joint ventures, which are accounted under the equity method, were as follows:


Associates	Activity		Country		%			2023		2022
Camcem, S.A. de C.V.		Cement		Mexico		40.1	$		364		306
Concrete Supply Co. LLC		Concrete		United States		40.0			103		96
Lehigh White Cement Company		Cement		United States		36.8			83		76
Neoris N.V. 1		Technology		The Netherlands		34.8			69		62
Joint ventures
Société d’Exploitation de Carrières		Aggregates		France		50.0			24		23
Société Méridionale de Carrières		Aggregates		France		33.3			13		12
Other companies		—		—		—			73		65

							$		729		640

Out of which:
Acquisition cost							$		330		302
Equity method recognition									399		338

Summary of Combined Condensed Statement of Financial Position

Combined condensed statement of financial position information of associates and joint ventures as of December 31, 2023 and 2022 is set forth below:


		2023		2022
Current assets	$		1,761		1,603
Non-current assets			1,877		1,699

Total assets			3,638		3,302

Current liabilities			468		468
Non-current liabilities			850		774

Total liabilities			1,318		1,242

Total net assets	$		2,320		2,060

Summary of Combined Selected Information of the Statements of Income

Combined selected information of the statements of income of associates and joint ventures in 2023, 2022 and 2021 is set forth below:


		2023		2022		2021
Revenues	$		2,410		2,319		1,801
Operating earnings			535		398		312
Income before income tax			394		268		219
Net income			268		186		153

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 2023, 2022 and 2021 are detailed as follows:


		2023		2022			2021
Mexico	$		65		39			28
United States			21		17			18
EMEAA			10		8			8
Corporate and others			2		(34	)		–

	$		98		30			54

Summary of Other Investments and Non-current Accounts Receivable

As of December 31, 2023 and 2022, consolidated other investments and

non-current

accounts receivable were summarized as follows:


		2023		2022
Non-current accounts receivable 1	$		272		228
Non-current portion of assets from valuation of derivative financial instruments (note 17.4)			64		57
Investments in strategic equity securities			3		5
Investments at fair value through the statements of income			1		3

	$		340		293

Commitments - Additional Information (Detail) T in Millions, MT in Millions		1 Months Ended		12 Months Ended
	Oct. 01, 2019	Apr. 30, 2016 MWh	Feb. 28, 2010	Dec. 31, 2023 USD ($) T Employees MWh MT $ / MWh	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Disclosure of Commitments and Contingencies [Line Items]
Acquired energy usage period		20 years
Self-insured health care benefits				$ 72,000,000	$ 64,000,000	$ 59,000,000
Cost per megawatt hour \| $ / MWh				25.375
Emissions of Co2 gross \| MT				57
Percentage of Co2 released directly related to production process				63.00%
Percentage of Co2 released directly related to electric consumption				5.00%
Percentage of Co2 released through activity of supply and transportation				32.00%
Loss from catastrophes				$ 3,000,000	$ 1,000,000	$ 5,000,000
Executive Variable Compensation [Member]
Disclosure of Commitments and Contingencies [Line Items]
Precease of decrease in annual executive variable compensation				(10.00%)
Precease of increase in annual executive variable compensation				10.00%
Number of employees \| Employees				4,500
Two Thousand and Twenty Year Baseline [Member]
Disclosure of Commitments and Contingencies [Line Items]
Percentage reduction of Co2 emissions				25.00%
Percentage decrease in transportation emissions				30.00%
Percentage decrease of scope 3 emissions per ton of purchased fuels				40.00%
Percentage decrease of absolute scope 3 emissions from the use of traded fuels				42.00%
Scope One [Member]
Disclosure of Commitments and Contingencies [Line Items]
Percentage reduction of Co2 emissions				47.00%
Scope Two [Member]
Disclosure of Commitments and Contingencies [Line Items]
Percentage reduction of Co2 emissions				58.00%
Scope Three [Member]
Disclosure of Commitments and Contingencies [Line Items]
Percentage reduction of Co2 emissions				0.00%
Commitement With Six Vendors For Back Office Services [Member] \| Later than five years and not later than seven years [member]
Disclosure of Commitments and Contingencies [Line Items]
Annual Commitement With Vendors Value				$ 60,000,000
MX [Member] \| Energy Financial Hedge [Member]
Disclosure of Commitments and Contingencies [Line Items]
Period of hedging agreement	20 years
Electric energy expected consumption \| MWh				400,000
Percentage increase in the price of the commodity				1.50%
Proceeds payments from financial hedge				$ 3,000,000
Bottom of range [member]
Disclosure of Commitments and Contingencies [Line Items]
Percentage of Co2 released				5.00%
Top of range [member]
Disclosure of Commitments and Contingencies [Line Items]
Stop-loss limits value under medical assistance				$ 550,000
Percentage of Co2 released				8.00%
Top of range [member] \| Employees [Member]
Disclosure of Commitments and Contingencies [Line Items]
Stop-loss limits value under medical assistance				$ 2,500,000
Ventikas [member]
Disclosure of Commitments and Contingencies [Line Items]
Estimated annual cost				26,000,000
Combined generation capacity \| MWh		252
EURUS [member]
Disclosure of Commitments and Contingencies [Line Items]
Acquired energy usage period			20 years
Estimated annual cost				78,000,000
Installed capacity			250
Termoelectrica del Golfo [member]
Disclosure of Commitments and Contingencies [Line Items]
Estimated annual cost				$ 183,000,000
Combined volume allocate to TEG and other energy producer \| T				1.2

Investments In Associates And Joint Ventures, Other Investments And Non-Current Accounts Receivable - Summary of Main Investments in Common Shares of Associates and Joint Ventures (Parenthetical) (Detail)		12 Months Ended
	Oct. 25, 2022	Dec. 31, 2023
Neoris N.V. [Member] \| Discontinued operations [member]
Disclousre of Investments in Associates and Joint Ventures Other Investments andNoncurrentAccounts Receivable [Line Items]
Percentage of ownership interest sold	65.00%	65.00%

Income Taxes - Schedule of Variations Between the Line Item Changes in Deferred Tax Assets Against the Changes in Deferred Tax Assets in the Balance Sheet (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Changes in Balance Sheet [member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Derecognition related to tax loss carryforwards recognized in prior years	$ (125)	$ (103)
Recognition related to unrecognized tax loss carryforwards	12	16
Foreign currency translation and other effects	(3)	(14)
Changes in deferred tax assets	(116)	(101)
Reconciliation [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Tax loss carryforwards generated and not recognized during the year	45	38
Derecognition related to tax loss carryforwards recognized in prior years		0
Recognition related to unrecognized tax loss carryforwards	(105)	(498)
Foreign currency translation and other effects	3	0
Changes in deferred tax assets	$ (57)	$ (460)

Stockholders' Equity - Additional Information (Detail) $ in Millions						12 Months Ended
	Mar. 23, 2023 USD ($) shares	Mar. 14, 2023 USD ($)	Jun. 30, 2021 USD ($)	Jun. 08, 2021 USD ($)	Mar. 25, 2021 USD ($) shares	Dec. 31, 2023 USD ($) shares	Dec. 31, 2022 USD ($) shares	Dec. 31, 2021 USD ($)	Mar. 24, 2022 USD ($)
Disclosure of Classes of Share Capital [Line Items]
Percentage of net income allocation toward legal reserve						5.00%
Legal reserve						$ 106
Non-controlling interest and perpetual debentures						352	$ 408
Coupon payment on perpetual debentures						(2,349)	$ (2,549)
Issuance of subordinated notes						992		$ 994
Parent [member]
Disclosure of Classes of Share Capital [Line Items]
Coupon payment on perpetual debentures						$ 1,576
Mexican peso [Member]
Disclosure of Classes of Share Capital [Line Items]
Closing foreign exchange rate						16.97	19.5	20.5
Coupon Payment [Member]
Disclosure of Classes of Share Capital [Line Items]
Coupon payment on perpetual debentures								$ 11
Two Thousand And Nineteen Treasury Repurchase Program [member]
Disclosure of Classes of Share Capital [Line Items]
Treasury shares repurchase amount authorized					$ 500
Two Thousand And Twenty Treasury Repurchase Program [Member]
Disclosure of Classes of Share Capital [Line Items]
Treasury shares repurchase amount authorized	$ 500
Number of shares repurchased \| shares					1,134,000,000
Shares authorized to guarantee the conversion of then existing convertible securities \| shares					3,409,500,000
Shares Repurchase Program [Member]
Disclosure of Classes of Share Capital [Line Items]
Number of shares repurchased \| shares	662,000,000
Two Thousand And Twenty Three Treasury Repurchase Program [Member]
Disclosure of Classes of Share Capital [Line Items]
Treasury shares repurchase amount authorized									$ 500
Non-controlling Interest [member]
Disclosure of Classes of Share Capital [Line Items]
Non-controlling interest and perpetual debentures						$ 351	$ 408
Net income attributable to noncontroling interest						17	27	25
Subordinated Notes [Member]
Disclosure of Classes of Share Capital [Line Items]
Coupon payment on perpetual debentures						$ 120	$ 54	$ 30
Issuance of subordinated notes		$ 1,000		$ 1,000
Percentage of issuance on subordinated note		9.125%		5.125%
Proceeds from issuance of subordinated notes		$ 992		$ 994
Perpetual Subordinated Bonds [member]
Disclosure of Classes of Share Capital [Line Items]
Repayments of subordinated liabilities			$ 449
Cemex Holdings Philippines, Inc. [member]
Disclosure of Classes of Share Capital [Line Items]
Non-controlling interest ownership percentage						10.14%	22.10%
Number of shares acquired \| shares						1,614,000,000
CEMEX Latam Holdings, S.A. [member]
Disclosure of Classes of Share Capital [Line Items]
Non-controlling interest ownership percentage						0.50%	4.70%
Caribbean TCL [member] \| Trinidad Cement Limited [member]
Disclosure of Classes of Share Capital [Line Items]
Non-controlling interest ownership percentage						30.17%	30.17%
CPO [Member] \| Parent [member]
Disclosure of Classes of Share Capital [Line Items]
Treasury shares						$ 16	$ 8
Investment in shares held by the subsidiary \| shares						(20,541,277)	(20,541,277)

Income Taxes - Summary of Income Tax Expense (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Major components of tax expense (income) [abstract]
Current income tax expense	$ 1,147	$ 170	$ 172
Deferred income tax expense (benefit)	103	39	(35)
Effective consolidated income tax expense rate	$ 1,250	$ 209	$ 137

The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax. [Refer: Current tax expense (income); Deferred tax expense (income)]

+ References + Details

Income Taxes - Schedule of Reconciliation Between Actual Income Tax Expense and Amount Computed by Applying Statutory Tax Rate (Parenthetical) (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of Effective Tax Rate [Line Items]
Statutory tax rate	30.00%	30.00%	30.00%
Difference tax component between books and tax foreign exchange fluctuations	$ 103	$ (48)	$ 44
Parent [member]
Reconciliation of Effective Tax Rate [Line Items]
Difference tax component between books and tax foreign exchange fluctuations		$ 365
Mexico [member]
Reconciliation of Effective Tax Rate [Line Items]
Statutory tax rate	30.00%	30.00%	30.00%
Colombia [member]
Reconciliation of Effective Tax Rate [Line Items]
Statutory tax rate	35.00%	35.00%	31.00%
Colombia [member] \| Bottom of range [member]
Reconciliation of Effective Tax Rate [Line Items]
Statutory tax rate	30.00%	30.00%	30.00%
Colombia [member] \| Top of range [member]
Reconciliation of Effective Tax Rate [Line Items]
Statutory tax rate	35.00%	35.00%	35.00%

Stockholders' Equity - Summary of Other Equity Reserves and Subordinated Notes (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Disclosure Of Reserves Within Equity And Subordinated Notes [Abstract]
Other equity reserves	$ (2,349)	$ (2,549)
Subordinated notes	1,986	994
Total Other Equity Reserves And Subordinated Notes	$ (363)	$ (1,555)

Financial Instruments - Summary of Long Term Notes Payable (Parenthetical) (Detail) $ in Millions, $ in Millions		12 Months Ended
	Oct. 05, 2023 USD ($)	Dec. 31, 2022 USD ($)	Oct. 05, 2023 MXN ($)
Disclosure of detailed information about financial instruments [line items]
Debt instrument repurchased notes notional amount		$ 1,172
Gain loss on notes repurchases	$ 38	$ 104
Cemex, S.A.B. de C.V. 2023 CEBURES [Member]
Disclosure of detailed information about financial instruments [line items]
Principal amount			$ 6,000
Cemex S A B de C V 2023 CEBURES fixed rate [Member]
Disclosure of detailed information about financial instruments [line items]
Principal amount			$ 5,000
Debt Instrument Term	7 years
Borrowings, interest rate			11.48%
Cemex, S.A.B. de C.V. 2023 CEBURES variable rate [Member]
Disclosure of detailed information about financial instruments [line items]
Principal amount			$ 1,000
Debt Instrument Term	3 years
Borrowings, adjustment to interest rate basis			0.45%

Other Accounts Receivable (Tables)

12 Months Ended

Dec. 31, 2023

Summary of Consolidated Other Accounts Receivable

As of December 31, 2023 and 2022, consolidated other accounts receivable consisted of:


		2023		2022
Advances of income taxes and other refundable taxes	$		472		335
Non-trade accounts receivable 1			102		119
Interest and notes receivable			54		41
Loans to employees and others			16		15
Current portion of assets from valuation of derivative financial instruments			6		25

	$		650		535

1	Non-trade accounts receivable are mainly attributable to the sale of assets.

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2023
Text block [abstract]
Subsequent Events	29) SUBSEQUENT EVENTS On March 22, 2024, Cemex, S.A.B. de C.V. held its ordinary general shareholders’ meeting. The most significant items approved by shareholders at the ordinary general shareholders’ meeting were: (a) the payment of a cash dividend for a total amount of $120 in four equal installments (June 2024, September 2024, December 2024 and March 2025); (b) setting the amount of $500 or its equivalent in Mexican Pesos as the maximum amount of resources that during fiscal year 2024 (until the next ordinary general shareholders’ meeting of Cemex, S.A.B. de C.V. is held), Cemex, S.A.B. de C.V. may use this amount for the acquisition of its own shares or securities that represent such shares); and (c) the appointment of the members of the Board of Directors, the Audit Committee, the Corporate Practices and the Finance Committee and the Sustainability Committee of Cemex, S.A.B. de C.V. On February 16, 2024, Cemex, S.A.B. de C.V. closed the reopening and placement of Ps5,500 of its 2023 CEBURES (note 17.1). The reopening consists of two tranches: the first, for Ps 2,000 maturing on October 1, 2026 at a floating annual interest rate of TIIE 28 plus 0.45%, and the second, for Ps 3,500 maturing on September 26, 2030 at a fixed annual interest rate of 11.48%. They were respectively issued at a price of 100.862623 and 108.225627. In connection with this reopening, Cemex negotiated cross currency swap derivative instruments to synthetically change the financial risks profile of these issuances from the Peso to the Dollar. Cemex intends to use the proceeds to repay other indebtedness. On February 26, 2024, in connection with the tax proceeding in Spain derived from a tax audit process covering the tax years 2010 to 2014 described in note 20.4, and for which Cemex accrued a provision in Euro equivalent to $117 as of December 31, 2023, Cemex España received the provisional assessment corresponding to the TEAC ruling for a total equivalent to $66, including the amount of income tax plus interest and penalty, under the condition that Cemex España does not appeal the Provisional Assessment and pays or requests for a postponement of the payment over the required amounts. Cemex decided not to appeal the amount and requested a postponement of the penalty to the Spanish Tax Authorities. On April 11, 2024, Cemex closed the refinancing of its Euro denominated sustainability-linked syndicated credit agreement under its 2023 Credit Agreement (note 17.1), extending the final maturity to 2029. The refinanced credit agreement consists of a €450 5-year amortizing term loan, and a new €300 4-year committed revolving credit facility. This represents a reduction of €50 in the term loan and an additional source of liquidity in the form of a revolver. The rest of the terms and conditions of the Euro denominated credit agreement are substantially the same as those of the 2023 Credit Agreement. On April 25, 2024, Cemex Asia B.V. (“Cemex Asia”) entered into separate agreements with DACON Corporation, DMCI Holdings, Inc. and Semirara Mining & Power Corporation, (a) to have Cemex Asia divest a 100% equity interest in CASEC, which owns approximately 89.86% of CHP, which is listed on the Philippine Stock Exchange, Inc. CHP is the owner of Cemex’s main operating subsidiaries in the Philippines, APO and Solid, which are engaged in the production, sale, and distribution of cement and other buildings materials in the Philippines; (b) pursuant to which one of the buyers is acquiring a 100% interest in (i) ALQC and (ii) Island Quarry and Aggregates Corporation (“IQAC”). The final sale price of the divestitures is subject to customary purchase price adjustments, and in the case of the divestment of IQAC and ALQC, to our equity interest in ALQC and IQAC. Cemex expects to finalize this transaction before December 31, 2024, subject to the satisfaction of closing conditions, including, but not limited to, the approval by the Philippine Competition Commission and the fulfillment of any mandatory tender offer requirement by the purchasers to the shareholders of CHP, including the minority interest owned by third parties in CHP. The transaction, if closed, would represent the divestment of all of our operations and assets in the Philippines.

Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2023

Summary of Debt Summarized by Interest Rates and Currencies

As of December 31, 2023 and 2022, Cemex’s consolidated debt summarized by interest rates and currencies, was as follows:


		2023							2022

		Current		Non-current		Total 1, 2			Current		Non-current		Total 1, 2

Floating rate debt	$		13		1,968		1,981	$		–		1,750		1,750
Fixed rate debt			12		4,235		4,247			51		5,170		5,221

	$		25		6,203		6,228	$		51		6,920		6,971

Effective rate 3
Floating rate			6.4%		7.1%					3.2%		4.6%
Fixed rate			4.4%		5.0%					5.1%		5.3%


		2023									2022

Currency		Current		Non-current		Total		Effective rate 3			Current		Non-current		Total		Effective rate 3

Dollars	$		1		4,348		4,349		5.5%	$		5		5,511		5,516		5.7%
Euros			9		990		999		4.2%			2		962		964		3.3%
Pesos			–		704		704		12.0%			–		267		267		12.2%
Philippine Pesos			11		112		123		7.1%			8		139		147		5.4%
Other currencies			4		49		53		4.5%			36		41		77		4.3%

	$		25		6,203		6,228			$		51		6,920		6,971

1	As of December 31, 2023 and 2022, from the total debt of $6,228 and $6,971, respectively, 94% was held in the Parent Company and 6% in subsidiaries of the Parent Company, in both periods.

3	In 2023 and 2022, represents the weighted-average effective interest rate of the related debt agreements determined at the end of each period.

Summary of Consolidated Debt by Type of Instrument

As of December 31, 2023 and 2022, Cemex’s consolidated debt summarized by type of instrument, was as follows:


2023		Current		Non-current		2022		Current		Non-current

Bank loans						Bank loans
Loans in foreign countries, 2024 to 2025		$	10		202	Loans in foreign countries, 2023 to 2025	$		43		184
Syndicated loans, 2025 to 2028			–		2,476	Syndicated loans, 2024 to 2026			–		2,578

			10		2,678				43		2,762

Notes payable						Notes payable
Medium-term notes, 2026 to 2031			–		3,508	Medium-term notes, 2024 to 2031			–		4,140
Other notes payable, 2024 to 2027			5		27	Other notes payable, 2023 to 2027			6		20

			5		3,535				6		4,160

Total bank loans and notes payable			15		6,213	Total bank loans and notes payable			49		6,922
Current maturities			10		(10)	Current maturities			2		(2)

	$		25		6,203		$		51		6,920

Summary of Changes in Consolidated Debt

Changes in consolidated debt for the years ended December 31, 2023, 2022 and 2021 were as follows:


		2023		2022		2021

Debt at beginning of year	$		6,971		7,379		9,339
Proceeds from new debt instruments			2,938		2,006		3,960
Debt repayments			(3,840)		(2,420)		(5,897)
Foreign currency translation and accretion effects			159		6		(23)

Debt at end of year	$		6,228		6,971		7,379

Summary of Non-Current Notes Payable

As of December 31, 2023 and 2022,

non-current

notes payable for $3,535 and $4,160, respectively, were detailed as follows:


Description	Date of issuance	Issuer 1	Currency	Principal amount	Rate	Maturity date	Redeemed amount 2 $	Outstanding amount 2 $		2023	2022

2023 CEBURES variable rate 3	05/Oct/23	Cemex, S.A.B. de C.V.	Peso	1,000	TIIE+.45%	01/Oct/26	–	59	$	59	–
2023 CEBURES fixed rate 3	05/Oct/23	Cemex, S.A.B. de C.V.	Peso	5,000	11.48%	26/Sep/30	–	295		292	–
July 2031 Notes 4	12/Jan/21	Cemex, S.A.B. de C.V.	Dollar	1,750	3.875%	11/Jul/31	(642)	1,108		1,102	1,102
September 2030 Notes 4	17/Sep/20	Cemex, S.A.B. de C.V.	Dollar	1,000	5.2%	17/Sep/30	(283)	717		714	714
November 2029 Notes 4	19/Nov/19	Cemex, S.A.B. de C.V.	Dollar	1,000	5.45%	19/Nov/29	(247)	753		749	749
June 2027 Notes 5	05/Jun/20	Cemex, S.A.B. de C.V.	Dollar	1,000	7.375%	05/Jun/27	(1,000)	–		–	996
March 2026 Notes	19/Mar/19	Cemex, S.A.B. de C.V.	Euro	400	3.125%	19/Mar/26	–	442		441	427
July 2025 Notes	01/Apr/03	Cemex Materials LLC	Dollar	150	7.70%	21/Jul/25	–	150		151	152
Other notes payable										27	20

									$	3,535	4,160

1	As of December 31, 2023, these issuances are fully and unconditionally guaranteed by Cemex Concretos, S.A. de C.V., Cemex Operaciones México, S.A. de C.V., Cemex Innovation Holding Ltd. and Cemex Corp.

2	Presented net of all notes repurchased by Cemex. As of December 31, 2023, all repurchased notes have been canceled.

On October 5, 2023, Cemex issued sustainability-linked long-term notes (

certificados bursátiles de largo plazo

) in the Mexican market (the “2023 CEBURES”) for an aggregate principal amount of Ps6,000. The 2023 CEBURES consist of two tranches: the first, for an amount of Ps1,000 with a

3-year

tenor at a floating annual interest rate of TIIE 28 plus 0.45%, and the second, for Ps5,000 with a

7-year

5	On June 5, 2023, Cemex fully redeemed the June 2027 Notes. The difference between the amount paid for such notes and the notional amount redeemed, net of transactional cost, generated a repurchase loss of $38, recognized in the line item “Financial income and other items, net.”

Schedule of Consolidated Long-Term Debt

The maturities of consolidated long-term debt as of December 31, 2023, were as follows:


		Bank loans		Notes payable		Total

2025	$		608		167		775
2026			324		506		830
2027			577		4		581
2028			1,131		–		1,131
2029 and thereafter			28		2,858		2,886

	$		2,668		3,535		6,203

Schedule of Lines of Credit


		Lines of credit		Available

Other lines of credit in foreign subsidiaries 1	$		401		274
Other lines of credit from banks 1			774		774
Revolving credit facility 2023 Credit Agreement			2,000		1,400

	$		3,175		2,448

1	Uncommitted amounts subject to the banks’ availability.

Summary of Consolidated Financial Ratios

As of December 31, 2023, 2022 and 2021, under the 2023 Credit Agreement and the 2021 Credit Agreement, as applicable, the main consolidated financial ratios were as follows:

Consolidated financial ratios

Refers to the compliance limits and calculations that were
effective on each date

2023

2022

2021

Leverage ratio

Limit

<=3.75

Calculation

2.06

2.84

2.73

Coverage ratio

Limit

>=2.75

Calculation

7.91

6.27

5.99

Summary of Other Financial Obligations

As of December 31, 2023 and 2022, other financial obligations in the consolidated statement of financial position were detailed as follows:


					2023							2022

		Current		Non-current		Total			Current		Non-current		Total

I. Leases	$		272		986		1,258	$		258		918		1,176
II. Liabilities secured with accounts receivable			678		–		678			678		–		678

	$		950		986		1,936	$		936		918		1,854

Detailed Information about In Lease Liabilities

Changes in the balance of lease financial liabilities during 2023, 2022 and 2021 were as follows:


		2023			2022			2021

Lease financial liability at beginning of year	$		1,176			1,176			1,260
Additions from new leases			341			296			227
Reductions from payments			(256	)		(276	)		(313)
Cancellations and liability remeasurements			(24	)		7			27
Foreign currency translation and accretion effects			21			(27	)		(25)

Lease financial liability at end of year	$		1,258			1,176			1,176

Summary of Disclosure Detail Of Financial Lease Liabilities

As of December 31, 2023, the maturities of

non-current

lease financial liabilities are as follows:


		Total

2025	$		181
2026			144
2027			108
2028			77
2029 and thereafter			476

	$		986

Summary of Carrying Amounts and Fair Value of Financial Instruments

As of December 31, 2023 and 2022, the carrying amounts of financial assets and liabilities and their respective fair values were as follows:


		2023					2022
		Carrying amount		Fair value			Carrying amount		Fair value
Financial assets
Derivative financial instruments (notes 14.2 and 17.4)	$		64		64	$		57		57
Other investments and non-current accounts receivable (note 14.2)			276		266			236		229

	$		340		330	$		293		286

Financial liabilities
Long-term debt (note 17.1)	$		6,203		6,030	$		6,920		6,517
Other financial obligations (note 17.2)			986		919			918		788
Derivative financial instruments (notes 17.4 and 18.2)			15		15			2		2

	$		7,204		6,964	$		7,840		7,307

Summary of Fair Value of Derivative Financial Instruments at Fair Value Hierarchy


2023		Level 1		Level 2		Level 3		Total
Assets measured at fair value
Derivative financial instruments (notes 14.2 and 17.4)	$		–		64		–		64
Investments in strategic equity securities (note 14.2)			3		–		–		3
Other investments at fair value through earnings (note 14.2)			–		1		–		1

	$		3		65		–		68

Liabilities measured at fair value
Derivative financial instruments (notes 17.4 and 18.2)	$		–		15		–		15


2022		Level 1		Level 2		Level 3		Total
Assets measured at fair value
Derivative financial instruments (notes 14.2 and 17.4)	$		–		57		–		57
Investments in strategic equity securities (note 14.2)			5		–		–		5
Other investments at fair value through earnings (note 14.2)			–		3		–		3

	$		5		60		–		65

Liabilities measured at fair value
Derivative financial instruments (notes 17.4 and 18.2)	$		–		2		–		2

Summary of Derivative Financial Instruments

As of December 31, 2023 and 2022, the notional amounts and fair values of Cemex’s derivative instruments were as follows:


		2023					2022
		Notional amount		Fair value			Notional amount		Fair value
I. Net investment hedges	$		976		(94	)		837		(48	)
II. Cross currency swaps			335		23			–		–
III. Interest rate swaps			750		30			1,018		54
IV. Fuel price hedging			232		5			136		8
V. Foreign exchange options			300		10			500		18

	$		2,593		(26	)		2,491		32

Summary of Consolidated Net Monetary Assets (Liabilities) by Currency

As of December 31, 2023 and 2022, Cemex’s consolidated net monetary assets (liabilities) by currency are as follows:


		2023
		Mexico			United States			EMEAA			SCA&C			Others 1			Total
Monetary assets	$		1,627			651			1,491			274			(241	)		3,802
Monetary liabilities			2,184			2,679			3,087			730			7,179			15,859

Net monetary assets (liabilities)	$		(557	)		(2,028	)		(1,596	)		(456	)		(7,420	)		(12,057)

Out of which:
Dollars	$		(157	)		(2,030	)		(5	)		(61	)		(4,780	)		(7,033)
Pesos			(400	)		–			–			–			(524	)		(924)
Euros			–			–			(660	)		–			(1,563	)		(2,223)
Pounds			–			–			(710	)		–			97			(613)
Other currencies			–			2			(221	)		(395	)		(650	)		(1,264)

	$		(557	)		(2,028	)		(1,596	)		(456	)		(7,420	)		(12,057)


		2022
		Mexico			United States			EMEAA			SCA&C			Others 1			Total
Monetary assets	$		960			650			1,315			204			–			3,129
Monetary liabilities			1,951			2,559			2,887			519			7,174			15,090

Net monetary assets (liabilities)	$		(991	)		(1,909	)		(1,572	)		(315	)		(7,174	)		(11,961)

Out of which:
Dollars	$		8			(1,909	)		12			(42	)		(5,633	)		(7,564)
Pesos			(999	)		–			–			–			(72	)		(1,071)
Euros			–			–			(632	)		–			(1,183	)		(1,815)
Pounds			–			–			(931	)		–			171			(760)
Other currencies			–			–			(21	)		(273	)		(457	)		(751)

	$		(991	)		(1,909	)		(1,572	)		(315	)		(7,174	)		(11,961)

1	Includes the Parent Company, Cemex’s financing subsidiaries, among other entities.

Consolidated Statements of Income - USD ($) $ in Millions	12 Months Ended
Consolidated Statements of Income - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Profit or loss [abstract]
Revenues	$ 17,388	$ 15,577	$ 14,379
Cost of sales	(11,527)	(10,755)	(9,743)
Gross profit	5,861	4,822	4,636
Operating expenses	(3,747)	(3,261)	(2,917)
Operating earnings before other expenses, net	2,114	1,561	1,719
Other expenses, net	(265)	(467)	(82)
Operating earnings	1,849	1,094	1,637
Financial expense	(531)	(505)	(576)
Financial income and other items, net	33	151	(161)
Share of profit of equity accounted investees	98	30	54
Earnings before income tax	1,449	770	954
Income tax	(1,250)	(209)	(137)
Net income from continuing operations	199	561	817
Discontinued operations	0	324	(39)
CONSOLIDATED NET INCOME	199	885	778
Non-controlling interest net income	17	27	25
CONTROLLING INTEREST NET INCOME	$ 182	$ 858	$ 753
Basic earnings per share	$ 0.0042	$ 0.0197	$ 0.0171
Basic earnings per share from continuing operations	0.0042	0.0123	0.018
Diluted earnings per share	0.0041	0.0193	0.0168
Diluted earnings per share from continuing operations	$ 0.0041	$ 0.012	$ 0.0177

Goodwill and Intangible Assets, Net - Summary of Pre-tax Discount Rates and Long-term Growth Rates Used to Determine the Discounted Cash Flows (Detail)

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Disclosure of information for cash-generating units [line items]

10.10%

9.10%

7.20%

^[1]

2.00%

Disclosure of information for cash-generating units [line items]

10.40%

9.10%

7.30%

^[1]

1.50%

Disclosure of information for cash-generating units [line items]

10.40%

9.20%

7.30%

^[1]

1.50%

1.40%

Disclosure of information for cash-generating units [line items]

10.70%

9.40%

7.60%

^[1]

1.60%

1.70%

1.50%

Disclosure of information for cash-generating units [line items]

11.60%

10.30%

8.40%

^[1]

1.00%

1.10%

1.00%

Disclosure of information for cash-generating units [line items]

12.70%

10.90%

8.50%

Bottom of range [member] | Other countries [member]

^[1]

3.30%

3.50%

Disclosure of information for cash-generating units [line items]

10.30%

9.30%

7.40%

Top of range [member] | Other countries [member]

^[1]

1.50%

1.70%

Disclosure of information for cash-generating units [line items]

17.00%

13.90%

11.70%