Cemex 2013 Annual Report Download - page 117

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Notes to the consolidated financial statements
23E) Contractual obligations
AsofDecember31,2013and2012,CEMEXhadthefollowingcontractualobligations:
(U.S. dollars millions) 2013 2012
Less than 1 1-3 3-5 More than
Obligations year years years 5 years Total Total
Long-termdebt US$ 296 765 7,236 6,330 14,627 13,857
Capitalleaseobligations1 58 91 61 82 292 361
Convertiblenotes2 14 1,603 625 27 2,269 2,177
 Totaldebtandothernancialobligations3 368 2,459 7,922 6,439 17,188 16,395
Operatingleases4 111 157 87 47 402 413
Interestpaymentsondebt5 1,037 2,052 2,004 1,196 6,289 5,366
Pensionplansandotherbenets6 168 320 334 925 1,747 1,653
Purchasesofrawmaterials7 68 39 – – 107 127
Purchasesoffuelandenergy8 218 443 442 2,278 3,381 3,539
Totalcontractualobligations US$ 1,970 5,470 10,789 10,885 29,114 27,493
   $ 25,709 71,384 140,796 142,049 379,938 353,285
1 Representnominalcashows.AsofDecember31,2013,thenetpresentvalueoffuturepaymentsundersuchleaseswasUS$210($2,743),ofwhich,US$28
($365)referstopaymentsfrom1to3years,US$32($418)refertopaymentsfrom3to5years,andUS$80($1,040)referpaymentsofmorethan5years.
2 Referstotheconvertiblenotesdescribedinnote16Bandassumesrepaymentatmaturityandnoconversionofthenotes.
3 Thescheduleofdebtpayments,whichincludescurrentmaturities,doesnotconsidertheeffectofanyrenancing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.
4 Theamountsrepresentnominalcashows.CEMEXhasoperatingleases,primarilyforoperatingfacilities,cementstorageanddistributionfacilitiesandcertain
transportationandotherequipment,underwhichannualrentalpaymentsarerequiredplusthepaymentofcertainoperatingexpenses.Rentalexpensewas
US$126($1,647)in2013,US$156($2,003)in2012andUS$256($3,195)in2011.
5 EstimatedcashowsonoatingratedenominateddebtweredeterminedusingtheoatinginterestratesineffectasofDecember31,2013and2012.
6 Representsestimatedannualpaymentsunderthesebenetsforthenext10years(note18),includingtheestimateofnewretireesduringsuchfutureyears.
7 Futurepaymentsforthepurchaseofrawmaterialsarepresentedonthebasisofcontractualnominalcashows.
8 Futurenominalpaymentsforenergywereestimatedonthebasisofanaggregateaverageexpectedconsumptionof3,147.8GWh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.
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