Cemex 2013 Annual Report Download - page 113
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Please find page 113 of the 2013 Cemex annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.Notes to the consolidated financial statements
A) Variable program
ThisprogramstartedinNovember2001,throughanexchangeofxedprogramoptions,withexercisepricesdenominatedindollarsincreasing
annuallyata7%rate.
B) Restricted program
Theseoptionshadanexercisepricedenominatedindollarswhich,dependingontheprogram,increasedannuallyata5.5%rateorata7%
rate.
C) Special program
Until2005,asubsidiaryintheUnitedStatesgrantedtoagroupofitsemployeesastockoptionprogramtopurchaseCEMEXADSs.The
optionsgrantedhaveaxedexercisepricedenominatedindollarsandtenureof10years.TheoptionexercisesarehedgedusingADSs
currentlyownedbysubsidiaries,whichincreasesthenumberofsharesoutstanding.TheamountsoftheseADSprogramsarepresentedin
termsofequivalentCPOs.
Valuation of options at fair value and accounting recognition
Alloptionsoutstandingqualifyasliabilityinstrumentsandarevaluedattheirestimatedfairvalueasofthedateofthenancialstatements,
recognizingchangesinvaluationsinthestatementsofoperations.Theoptions’fairvaluesweredeterminedthroughthebinomialoption-
pricingmodelconsideringtheoptions’remainingtenureandassumptionsofexpecteddividendyield,volatilityandinterestratebasedon
reasonablemarketconditions.ThebalancesoftheprovisionfortheremainingexecutivestockoptionsasofDecember31,2013and2012
andthechangesinsuchprovisionfortheyearsendedDecember31,2013,2012and2011werenotsignicant.
22) Loss per share
BasedonIAS33
EarningsperShare
(“IAS33”),basicearnings(loss)pershareshallbecalculatedbydividingprotorlossattributableto
ordinaryequityholdersoftheparententity(thenumerator)bytheweightedaveragenumberofsharesoutstanding(thedenominator)
duringtheperiod.Sharesthatwouldbeissueddependingonlybythepassageoftimeshouldbeincludedinthedeterminationofthebasic
weightedaveragenumberofsharesoutstanding.Dilutedearnings(loss)pershareshouldreectinboth,thenumeratoranddenominator,the
assumptionthatconvertibleinstrumentsareconverted,thatoptionsorwarrantsareexercised,orthatordinarysharesareissueduponthe
satisfactionofspeciedconditions,totheextentthatsuchassumptionwouldledtoareductioninbasicearningspershareoranincreasein
basiclosspershare,otherwise,theeffectsofpotentialsharesarenotconsideredbecausetheygenerateantidilution.
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