Cemex 2009 Annual Report Download - page 67

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65
14. OTHER CURRENT AND NON-CURRENT LIABILITIES
As of December 31, 2009 and 2008, consolidated other current accounts payable and accrued expenses were as follows:
2009 2008
Provisions $ 8,581 12,422
Other accounts payable and accrued expenses 2,942 6,377
Taxes payable 7,537 7,306
Advances from customers 2,408 2,177
Interest payable 1,752 1,212
Current liabilities for valuation of derivative instruments – 1,135
Dividends payable 31 44
$ 23,251 30,673
Current provisions primarily consist of employee benefits accrued at the balance sheet date, insurance payments, and accruals related to legal and
environmental assessments expected to be settled in the short-term (note 21). These amounts are revolving in nature and are expected to be settled and
replaced by similar amounts within the next 12 months.
Other non-current liabilities include the best estimate of cash flows with respect to diverse issues where CEMEX is determined to be responsible and
which are expected to be settled over a period greater than 12 months. As of December 31, 2009 and 2008, consolidated other non-current liabilities were
as follows:
2009 2008
Asset retirement obligations 1 $ 2,460 1,830
Remediation and environmental liabilities 2 3,616 4,785
Accruals for legal assessments and other responsibilities 3 1,169 4,102
Non-current liabilities for valuation of derivative instruments 7,923 8,777
Other non-current liabilities and provisions 4 14,769 3,216
$ 29,937 22,710
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 Provisions for remediation and 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 Includes approximately $10,073 of taxes payable recognized during 2009 as a result of changes to the tax consolidation regime in Mexico (note 16A).
As of December 31, 2009 and 2008, some significant proceedings that gave rise to a portion of the carrying amount of CEMEX’s other non-current liabilities
and provisions are detailed in note 21.
Changes in consolidated other non-current liabilities for the years ended December 31, 2009, 2008 and 2007, excluding changes of liabilities related to the
sale of assets in Australia, are the following:
2009 2008 2007
Balance at beginning of period $ 22,710 15,492 14,725
Current period additions due to new obligations or increase in estimates 16,003 9,522 1,775
Current period releases due to payments or decrease in estimates (9,153) (2,276) (1,906)
Additions due to business combinations 48 64 1,504
Reclassification from current to non-current liabilities, net 1,186 (236) 20
Foreign currency translation and inflation effects (857) 144 (626)
Balance at end of period $ 29,937 22,710 15,492