Cemex Sab De CV 6-K, filed Feb 21, 2025

Cemex Sab De CV (CX)

6-K 2025-02-21 For: 2025-02-21

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Added on April 07, 2026

About this 6-K

Cemex Sab De CV filed this 6-K on February 21, 2025.

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	Cemex, S.A.B. de C.V.
	(Registrant)

Date: February 21, 2025	By:	/s/ Rafael Garza Lozano
		Name:	Rafael Garza Lozano
		Title:	Chief Comptroller


EXHIBIT NO.		DESCRIPTION

1.		Cemex, S.A.B. de C.V.’s (NYSE: CX) (“Cemex”) and its subsidiaries’ consolidated financial statements for the years ended December 31, 2024, 2023, and 2022, subject to approval by Cemex’s shareholders at the Ordinary General Shareholders’ Meeting to be held on March 25, 2025.

2.		Cemex’s separate financial statements for the years ended December 31, 2024, 2023, and 2022, subject to approval by Cemex’s shareholders at the Ordinary General Shareholders’ Meeting to be held on March 25, 2025.


Cemex, S.A.B. de C.V. and Subsidiaries:

Consolidated Statements of Income for the years ended December 31, 2024, 2023 and 2022			1

Consolidated Statements of Comprehensive Income for the years ended December 31, 2024, 2023 and 2022			2

Consolidated Statements of Financial Position as of December 31, 2024, 2023 and 2022			3

Consolidated Statements of Cash Flows for the years ended December 31, 2024, 2023 and 2022			4

Statements of Changes in Stockholders’ Equity for the years ended December 31, 2024, 2023 and 2022			5

Notes to the Consolidated Financial Statements			6

Independent auditors’ report — KPMG Cárdenas Dosal, S.C			63


		Years ended December 31,
	Notes	2024			2023			2022
Revenues	3	$	16,200			16,554			14,706
Cost of sales	5		(10,761	)		(10,979	)		(10,221	)

Gross profit			5,439			5,575			4,485

Operating expenses	6		(3,611	)		(3,616	)		(3,124	)

Operating earnings before other expenses, net	2		1,828			1,959			1,361
Other expenses, net	7		(7	)		(211	)		(488	)

Operating earnings			1,821			1,748			873

Financial expense	8.1, 17		(555	)		(539	)		(505	)
Financial income and other items, net	8.2		(379	)		16			172
Share of profit of equity accounted investments	14.1		93			98			30

Earnings before income tax			980			1,323			570

Income tax	20		(67	)		(1,204	)		(168	)

Net income from continuing operations			913			119			402

Discontinued operations	4.2		47			80			483

CONSOLIDATED NET INCOME			960			199			885
Non-controlling interest net income			21			17			27

CONTROLLING INTEREST NET INCOME		$	939			182			858

Basic earnings per share	23	$	0.0217			0.0042			0.0197
Basic earnings per share from continuing operations	23	$	0.0206			0.0023			0.0086

Diluted earnings per share	23	$	0.0213			0.0041			0.0193
Diluted earnings per share from continuing operations	23	$	0.0202			0.0023			0.0085


			Years ended December 31,
	Notes		2024			2023			2022
CONSOLIDATED NET INCOME			$	960			199			885

Items that will not be reclassified subsequently to the statement of income
Net actuarial gains (losses) from remeasurements of defined benefit pension plans		19		74			(45	)		176
Effects from strategic equity investments		14.2		1			(2	)		(9	)
Income tax benefit (expense) recognized directly in other comprehensive income		20		(11	)		5			(32	)

				64			(42	)		135

Items that are or may be reclassified subsequently to the statement of income
Results from derivative financial instruments designated as cash flow hedges		17.4		(140	)		(7	)		80
Currency translation results of foreign subsidiaries		21.2		(206	)		255			(326	)
Income tax benefit recognized directly in other comprehensive income		20		(37	)		1			18

				(383	)		249			(228	)

Total items of other comprehensive income (loss), net				(319	)		207			(93	)

CONSOLIDATED COMPREHENSIVE INCOME				641			406			792
Non-controlling interest comprehensive income (loss)				(31	)		31			(36	)

CONTROLLING INTEREST COMPREHENSIVE INCOME			$	672			375			828


		As of December 31,
	Notes	2024			2023
ASSETS
CURRENT ASSETS
Cash and cash equivalents	9	$	864			624
Trade accounts receivable	10		1,582			1,751
Other accounts receivable	11		715			650
Inventories	12		1,485			1,789
Assets held for sale and other current assets	13		370			191

Total current assets		$	5,016			5,005

NON-CURRENT ASSETS
Investments in associates and joint ventures	14.1		753			729
Other investments and non-current accounts receivable	14.2		256			340
Property, machinery and equipment, net and assets for the right-of-use, net	15		11,240			12,466
Goodwill and intangible assets, net	16		9,361			9,530
Deferred income tax assets	20.2		673			363

Total non-current assets			22,283			23,428

TOTAL ASSETS		$	27,299			28,433

LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES
Current debt	17.1		189			25
Other current financial obligations	17.2		927			950
Trade accounts payable	18.1		3,090			3,109
Income tax payable	20.4		469			1,082
Other current liabilities	18.2		1,326			1,620
Liabilities related to assets held for sale	13		91			—

Total current liabilities		$	6,092			6,786

NON-CURRENT LIABILITIES
Non-current debt	17.1		5,340			6,203
Other non-current financial obligations	17.2		902			986
Pensions and other post-employment benefits	19		559			735
Deferred income tax liabilities	20.2		548			443
Other non-current liabilities	18.3		1,381			1,164

Total non-current liabilities			8,730			9,531

TOTAL LIABILITIES		$	14,822			16,317

STOCKHOLDERS’ EQUITY
Controlling interest:
Common stock and additional paid-in capital	21.1		7,699			7,699
Other equity reserves and subordinated notes	21.2		(770	)		(363	)
Retained earnings	21.3		5,247			4,428

Total controlling interest			12,176			11,764
Non-controlling interest	21.4		301			352

TOTAL STOCKHOLDERS’ EQUITY			12,477			12,116

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY		$	27,299			28,433


								Other equity
					Additional			reserves and						Total						Total
			Common		paid-in			subordinated			Retained			controlling			Non-controlling			stockholders’
	Notes		stock		capital			notes			earnings			interest			interest			equity
Balance as of December 31, 2021			$	318		7,492			(1,371	)		3,388			9,827			444			10,271
Net income for the period				—		—			—			858			858			27			885
Other comprehensive loss for the period				—		—			(30	)		—			(30	)		(63	)		(93	)

Total of other comprehensive income (loss) for the period		21.2		—		—			(30	)		858			828			(36	)		792
Own shares purchased under shares repurchase program		21.1		—		—			(111	)		—			(111	)		—			(111	)
Shares in trust for future deliveries under share-based compensation		22		—		—			(36	)		—			(36	)		—			(36	)
Share-based compensation		22		—		—			47			—			47			—			47
Coupons accrued on subordinated notes		21.2		—		—			(54	)		—			(54	)		—			(54	)

Balance as of December 31, 2022				318		7,492			(1,555	)		4,246			10,501			408			10,909
Net income for the period				—		—			—			182			182			17			199
Other comprehensive income for the period				—		—			193			—			193			14			207

Total of other comprehensive income for the period		21.2		—		—			193			182			375			31			406
Cancellation of own shares by shareholders’ resolution		21.1		—		(111	)		111			—			—			—			—
Shares in trust for future deliveries under share-based compensation		22		—		—			(45	)		—			(45	)		—			(45	)
Issuance of subordinated notes		21.2		—		—			992			—			992			—			992
Changes in non-controlling interest		21.4		—		—			—			—			—			(87	)		(87	)
Share-based compensation		22		—		—			61			—			61			—			61
Coupons accrued on subordinated notes		21.2		—		—			(120	)		—			(120	)		—			(120	)

Balance as of December 31, 2023				318		7,381			(363	)		4,428			11,764			352			12,116
Net income for the period				—		—			—			939			939			21			960
Other comprehensive income for the period				—		—			(267	)		—			(267	)		(52	)		(319	)

Total of other comprehensive income for the period		21.2		—		—			(267	)		939			672			(31	)		641
Dividends declared		21.1		—		—			—			(120	)		(120	)		—			(120	)
Shares in trust for future deliveries under share-based compensation		22		—		—			(52	)		—			(52	)		—			(52	)
Changes in non-controlling interest		21.4		—		—			—			—			—			(20	)		(20	)
Share-based compensation		22		—		—			55			—			55			—			55
Coupons accrued on subordinated notes		21.2		—		—			(143	)		—			(143	)		—			(143	)

Balance as of December 31, 2024			$	318		7,381			(770	)		5,247			12,176			301			12,477


Standard		Main topic
Amendments to IAS 7, Statement of Cash Flows and IFRS 7, Financial Instruments: Disclosures – Supplier Finance Arrangements		The amendments require disclosure of supplier finance arrangements and their effects on an entity’s liabilities, cash flows and exposure to liquidity risk. As a result of the adoption of the amendments to IAS 7 and IFRS 7, the Company provides new disclosures for trade accounts payable under supplier finance arrangements in note 18.1.

Amendment to IAS 1 – Presentation of Financial Statement		Clarifies the requirements to be applied in classifying liabilities as current and non-current for non-current liabilities that are subject to covenants within 12 months after the reporting period. The adoption of the amendments to IAS 1 did not impact Cemex´s financial statements.

Amendments to IFRS 16, Leases – Lease Liability in a Sale and Leaseback		The amendments mention 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 establish that the seller-lessee could not recognize gains or losses relating to the right of use it retains after initial recognition. There are no sale and leaseback transactions during the reported periods.


	2024		2023
Current assets	$	2		30
Property, machinery and equipment		8		89
Other non-current assets and goodwill		5		25

Total assets		15		144
Current liabilities		1		17
Non-current liabilities		9		19

Total liabilities		10		36

Net assets acquired	$	5		108


2024	Sales (including intragroup transactions)		Less: Intragroup transactions			External revenues		Operating EBITDA			Less: Depreciation and amortization		Operating earnings before other expenses, net			Other expenses, net			Financial expense			Financial income and other items, net
Mexico	$	4,881		(136	)		4,745		1,475			207		1,268			(26	)		(38	)		(269	)
United States		5,194		—			5,194		1,031			514		517			(4	)		(74	)		(33	)
EMEA
United Kingdom		953		—			953		186			91		95			(6	)		(14	)		15
France		756		—			756		34			42		(8	)		(56	)		(16	)		1
Germany		476		(52	)		424		23			34		(11	)		2			(3	)		(5	)
Poland		543		(1	)		542		100			27		73			(1	)		(3	)		—
Spain		455		(46	)		409		60			29		31			(13	)		(4	)		(1	)
Israel		724		—			724		79			37		42			(1	)		(8	)		1
Rest of EMEA		784		—			784		155			47		108			(8	)		(7	)		(5	)
SCA&C
Colombia ¹		468		(2	)		466		65			27		38			(11	)		(4	)		(15	)
Panama ¹		148		(23	)		125		29			17		12			(2	)		(1	)		—
Caribbean TCL ²		330		(21	)		309		87			20		67			(18	)		(3	)		(4	)
Rest of SCA&C ¹		302		(1	)		301		54			16		38			(5	)		(2	)		—

Reportable segments							15,732		3,378			1,108		2,270			(149	)		(177	)		(315	)
Other activities ³							468		(300	)		142		(442	)		142			(378	)		(64	)

Consolidated	$						16,200		3,078			1,250		1,828			(7	)		(555	)		(379	)


2024	Associates and joint ventures		Other segment assets		Total assets		Total liabilities		Net assets by segment			Capital expenditures ¹
Mexico	$	—		4,155		4,155		1,693		2,462			315
United States		285		12,700		12,985		2,903		10,082			486
EMEA
United Kingdom		6		1,386		1,392		848		544			65
France		38		820		858		412		446			52
Germany		3		487		490		279		211			36
Poland		—		426		426		138		288			38
Spain		—		637		637		234		403			41
Israel		—		895		895		540		355			57
Rest of EMEA		10		732		742		316		426			79
SCA&C
Colombia		—		954		954		280		674			105
Panama		—		281		281		73		208			13
Caribbean TCL		—		511		511		238		273			50
Rest of SCA&C		—		234		234		85		149			21

Reportable segments		342		24,218		24,560		8,039		16,521			1,358
Other activities		411		2,063		2,474		6,692		(4,218	)		22
Assets held for sale		—		265		265		91		174			—

Consolidated	$	753		26,546		27,299		14,822		12,477			1,380


2024	Cement		Concrete		Aggregates		Urbanization solutions		Others		Eliminations			External revenues
Mexico	$	3,207		1,434		393		1,077		10		(1,376	)		4,745
United States		1,905		2,905		1,374		658		1		(1,649	)		5,194
EMEA
United Kingdom		285		292		379		208		24		(235	)		953
France		—		568		339		17		—		(168	)		756
Germany		210		141		84		67		54		(132	)		424
Poland		381		197		52		8		1		(97	)		542
Spain		325		117		45		27		—		(105	)		409
Israel		—		592		190		113		—		(171	)		724
Rest of EMEA		540		318		57		18		19		(168	)		784
SCA&C
Colombia		318		178		50		56		24		(160	)		466
Panama		112		33		8		15		4		(47	)		125
Caribbean TCL		316		5		9		1		3		(25	)		309
Rest of SCA&C		269		9		5		25		1		(8	)		301

Reportable segments		7,868		6,789		2,985		2,290		141		(4,341	)		15,732
Other activities		—		—		—		—		468		—			468

Consolidated	$														16,200


	2024		2023
Cash and bank accounts	$	330		363
Fixed-income securities and other cash equivalents		534		261

	$	864		624


	Accounts receivable		ECL allowance		ECL average rate
Mexico	$	332		29		8.7	%
United States		542		8		1.5	%
EMEA		701		34		4.9	%
SCA&C		72		6		8.3	%
Others		12		—		—

	$	1,659		77


	2024		2023
Advances of income taxes and refundable taxes	$	494		472
Non-trade accounts receivable ¹		87		102
Current portion of assets from valuation of derivative financial instruments		64		6
Interest and notes receivable		56		54
Loans to employees and others		14		16

	$	715		650


	2024			2023			2022
Opening balance of contract liabilities with customers	$	384			293			257
Increase during the period for new transactions		476			801			1,083
Decrease during the period for exercise or expiration of incentives		(576	)		(717	)		(1,045	)
Currency translation effects		(15	)		7			(2	)

Closing balance of contract liabilities with customers	$	269			384			293


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
EMEA
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
Israel		—		662		200		116		2		(186	)		794
Rest of EMEA		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
Rest of SCA&C		253		9		5		25		1		(8	)		285

Reportable segments		8,129		7,083		2,976		2,369		167		(4,621	)		16,103
Other activities		—		—		—		—		451		—			451

Consolidated	$														16,554


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
EMEA
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
Israel		—		718		213		97		21		(209	)		840
Rest of EMEA		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
Rest of SCA&C		245		9		3		19		1		(7	)		270

Reportable segments		7,236		6,347		2,639		2,033		199		(4,161	)		14,293
Other activities		—		—		—		—		413		—			413

Consolidated	$														14,706


	2024		2023
Finished goods	$	392		461
Materials and spare parts		383		537
Raw materials		377		370
Work-in-process		266		330
Inventory in transit		67		91

	$	1,485		1,789


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

							$	753		729

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


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

	$	256		340


	2024		2023
Property, machinery and equipment, net	$	10,152		11,272
Assets for the right-of-use, net		1,088		1,194

	$	11,240		12,466


	Years
Administrative buildings		31
Industrial buildings		25
Machinery and equipment in plant		17
Ready-mix trucks and motor vehicles		11
Office equipment and other assets		7


	2024
	Land and mineral reserves			Building			Machinery and equipment			Construction in progress ²			Total
Cost at beginning of period	$	5,295			2,636			12,702			1,931			22,564
Accumulated depreciation and depletion		(1,495	)		(1,657	)		(8,140	)		—			(11,292	)

Net book value at beginning of period		3,800			979			4,562			1,931			11,272
Capital expenditures		65			99			695			182			1,041
Stripping costs¹		49			—			—			—			49

Total capital expenditures		114			99			695			182			1,090
Ordinary sales ³		(42	)		(4	)		(44	)		—			(90	)
Divestitures and reclassifications ⁴		(67	)		(62	)		(205	)		(359	)		(693	)
Business combinations (note 4.1)		—			—			2			—			2
Depreciation and depletion for the period		(34	)		(33	)		(738	)		—			(805	)
Impairment losses (note 7)		(36	)		(26	)		(60	)		—			(122	)
Asset retirement obligations (note 18.3)		—			15			48			—			63
Foreign currency translation effects		(244	)		(77	)		112			(356	)		(565	)

Cost at end of period		5,120			2,426			11,962			1,398			20,906
Accumulated depreciation and depletion		(1,629	)		(1,535	)		(7,590	)		—			(10,754	)

Net book value at end of period	$	3,491			891			4,372			1,398			10,152


	2024
	Land			Buildings			Machinery and equipment			Others			Total
Assets for the right-of-use at beginning of period	$	476			356			1,722			58			2,612
Accumulated depreciation		(155	)		(234	)		(985	)		(44	)		(1,418	)

Net book value at beginning of period		321			122			737			14			1,194
Additions of new leases		24			76			171			19			290
Cancellations and remeasurements, net		(22	)		(2	)		(16	)		(2	)		(42	)
Divestitures and reclassifications (note 4.2)		(34	)		(3	)		(4	)		—			(41	)
Business combinations (note 4.1)		6			—			—			—			6
Depreciation		(34	)		(36	)		(177	)		(13	)		(260	)
Foreign currency translation effects		(16	)		18			(67	)		6			(59	)

Assets for the right-of-use at end of period		456			365			1,571			69			2,461
Accumulated depreciation		(211	)		(190	)		(927	)		(45	)		(1,373	)

Net book value at end of period	$	245			175			644			24			1,088


	2024							2023
	Cost		Accumulated amortization			Carrying amount		Cost		Accumulated amortization			Carrying amount
Intangible assets of indefinite useful life:
Goodwill	$	7,441		—			7,441	$	7,674		—			7,674
Intangible assets of definite useful life:
Extraction rights		1,796		(506	)		1,290		1,768		(479	)		1,289
Internally developed software		1,137		(734	)		403		973		(639	)		334
Customer relationships		—		—			—		196		(196	)		—
Mining projects		49		(8	)		41		47		(7	)		40
Industrial property and trademarks		29		(17	)		12		32		(16	)		16
Other intangible assets		390		(216	)		174		357		(180	)		177

	$	10,842		(1,481	)		9,361	$	11,047		(1,517	)		9,530


	2024			2023
Balance at beginning of period	$	7,674			7,538
Divestitures and reclassifications (note 4.2)		(92	)		—
Business combinations (note 4.1)		5			8
Foreign currency translation effects		(146	)		128

Balance at end of period	$	7,441			7,674


	2024
	Extraction rights			Internally developed software ¹			Mining projects			Industrial property and trademarks			Others			Total
Balance at beginning of period	$	1,289			334			40			16			177			1,856
Amortization for the period		(47	)		(103	)		(1	)		(1	)		(33	)		(185	)
Additions (disposals), net ¹		55			188			3			(2	)		52			296
Foreign currency translation effects		(7	)		(16	)		(1	)		(1	)		(22	)		(47	)

Balance at the end of period	$	1,290			403			41			12			174			1,920


	Discount rates			Long-term growth rates¹
Groups of CGUs	2024	2023	2022	2024	2023	2022
United States	9.4%	10.1%	9.1%	2.1%	2.0%	2.0%
United Kingdom	9.7%	10.4%	9.1%	1.3%	1.5%	1.5%
France	9.8%	10.4%	9.2%	1.3%	1.5%	1.4%
Spain	9.8%	10.7%	9.4%	1.6%	1.6%	1.7%
Mexico	10.9%	11.6%	10.3%	0.5%	1.0%	1.1%
Colombia	12.1%	12.7%	10.9%	3.0%	3.3%	3.3%
Range of rates in other countries	9.6% — 12.8%	10.3% — 14.7%	9.3% — 13.9%	0.7% — 4.0%	1.1% — 4.0%	1.5% — 4.5%


			Impairment effects from the sensitivity analyses to changes in assumptions as of December 31, 2024
Operating segment	Impairment losses recognized		Discount rate +1%		Long-term growth rate –1%		Multiples Operating EBITDA 9.7x
United States	$	—		509		213		—
Colombia	$	—		49		23		—


	2024								2023
	Current			Non-current			Total ^1, 2		Current			Non-current			Total ^1, 2
Floating rate debt	$	23			1,305			1,328	$	13			1,968			1,981
Fixed rate debt		166			4,035			4,201		12			4,235			4,247

	$	189			5,340			5,529	$	25			6,203			6,228

Effective rate ³
Floating rate		5.1	%		6.0	%				6.4	%		7.1	%
Fixed rate		7.3	%		4.6	%				4.4	%		5.0	%


	2024									2023
Currency	Current		Non-current		Total		Effective rate ³			Current		Non-current		Total		Effective rate ³
Dollars	$	161		3,595		3,756		5.1	%	$	1		4,348		4,349		5.5	%
Euros		2		876		878		3.9	%		9		990		999		4.2	%
Pesos		—		842		842		11.2	%		—		704		704		12.0	%
Philippine Pesos		—		—		—		—			11		112		123		7.1	%
Other currencies		26		27		53		5.4	%		4		49		53		4.5	%

	$	189		5,340		5,529				$	25		6,203		6,228


Description	Date of issuance		Issuer ¹	Currency		Principal amount		Rate			Maturity		Redeemed amount ² $			Outstanding amount ² $		2024		2023
2023 CEBURES variable rate ³		05/Oct/23	Cemex, S.A.B. de C.V.		Peso		3,000		TIIE+.45	%		01/Oct/26		—			144	$	144		59
2023 CEBURES fixed rate³		05/Oct/23	Cemex, S.A.B. de C.V.		Peso		8,500		11.480	%		26/Sep/30		—			408		411		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		1,104		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		715		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		750		749
March 2026 Notes ⁴		19/Mar/19	Cemex, S.A.B. de C.V.		Euro		400		3.125	%		19/Mar/26		—			414		414		441
July 2025 Notes		01/Apr/03	Cemex Materials LLC		Dollar		150		7.70	%		21/Jul/25		—			150		—		151
Other notes payable																			12		27

																		$	3,550		3,535


	Bank loans		Notes payable		Total
2026	$	275		565		840
2027		694		4		698
2028		694		2		696
2029		93		750		843
2030 and thereafter		34		2,229		2,263

	$	1,790		3,550		5,340


	Lines of credit		Available
Other lines of credit in foreign subsidiaries ¹	$	392		250
Other lines of credit from banks ¹		1,009		1,009
Revolving credit facility 2023 Credit Agreement		2,311		2,311

	$	3,712		3,570


	2024				2023
	Carrying amount		Fair value		Carrying amount		Fair value
Financial assets
Derivative financial instruments (notes 14.2 and 17.4)	$	60		60	$	64		64
Other investments and non-current accounts receivable (note 14.2)		196		179		276		266

	$	256		239	$	340		330

Financial liabilities
Long-term debt (note 17.1)	$	5,340		5,145	$	6,203		6,030
Other financial obligations (note 17.2)		902		898		986		919
Derivative financial instruments (notes 17.4 and 18.3)		100		100		15		15

	$	6,342		6,143	$	7,204		6,964


2024	Level 1		Level 2		Level 3		Total
Assets measured at fair value
Derivative financial instruments (notes 14.2 and 17.4)	$	—		60		—		60
Investments in strategic equity securities (note 14.2)		4		—		—		4
Other investments at fair value through earnings (note 14.2)		—		1		—		1

	$	4		61		—		65

Liabilities measured at fair value
Derivative financial instruments (notes 17.4 and 18.3)	$	—		100		—		100


	2024					2023
	Notional amount		Fair value			Notional amount		Fair value
I. Foreign exchange forwards hedging the net investment	$	713		63			976		(94	)
II. Cross currency swaps		658		(100	)		335		23
III. Interest rate swaps		600		14			750		30
IV. Fuel price hedging		356		6			232		5
V. Foreign exchange options		650		41			300		10

	$	2,977		24			2,593		(26	)