Cemex 2013 Annual Report Download - page 136

1) Description of business
CEMEX,S.A.B.deC.V.isaMexicanholdingcompany(parent)ofentitieswhosemainactivitiesareorientedtotheconstructionindustry,
through the production, marketing, distribution and sale of cement, ready-mix concrete, aggregates and other construction materials.
CEMEXisapublicstockcorporationwithvariablecapital(S.A.B.deC.V.)organizedunderthelawsoftheUnitedMexicanStates,orMexico.
CEMEX,S.A.B.deC.V.wasfoundedin1906andwasregisteredwiththeMercantileSectionofthePublicRegisterofPropertyandCommerce
inMonterrey,N.L.,Mexicoin1920foraperiodof99years.In2002,thisperiodwasextendedtotheyear2100.ThesharesofCEMEX,S.A.B.
deC.V.arelistedontheMexicanStockExchange(“MSE”)asOrdinaryParticipationCerticates(“CPOs”).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term“CEMEX,S.A.B.deC.V.”usedintheseaccompanyingnotestotheparentcompany-onlynancialstatementsreferstoCEMEX,
S.A.B.deC.V.withoutitsconsolidatedsubsidiaries.Thetermsthe“Company”or“CEMEX”refertoCEMEX,S.A.B.deC.V.togetherwithits
consolidatedsubsidiaries.TheissuanceoftheseconsolidatednancialstatementswasauthorizedbythemanagementofCEMEX,S.A.B.de
C.V.onJanuary31,2014.Onthisdate,theconsolidatednancialstatementsofCEMEXwerealsoissued.
2) Signicant accounting policies
2A) Basis of presentation and disclosure
InNovember2008,theMexicanNationalBankingandExchangeCommission(“
ComisiónNacionalBancariaydeValores ”or“CNBV”)issued
regulationrequiringregistrantswhosesharesarelistedontheMSE,tostoppreparingtheirconsolidatednancialstatementsusingMexican
FinancialReportingStandards(“MFRS”)andtobeginpreparingtheirconsolidatednancialstatementsusingInternationalFinancialReporting
Standards(“IFRS”)asissuedbytheInternationalAccountingStandardsBoard(“IASB”)beginningnolaterthanJanuary1,2012.Inconnection
withthisrequirement,theseparentcompany-onlynancialstatementsofCEMEX,S.A.B.deC.V.asofDecember31,2013and2012and
fortheyearsendedDecember31,2013,2012and2011,werepreparedinaccordancewithIFRSasissuedbytheIASB.
Denition of terms
Whenreferenceismadetopesosor“$,”itmeansMexicanpesos.Exceptwhenspecicreferencesaremadeto“pricespershare,”theamounts
inthenancialstatementsandtheaccompanyingnotesarestatedinmillionsofpesos.Whenreferenceismadeto“US$”ordollars,itmeans
millionsofdollarsoftheUnitedStatesofAmerica(“UnitedStates”).
Whenitisdeemedrelevant,certainamountspresentedinthenotestotheparentcompany-onlynancialstatementsincludeinparentheses
aconveniencetranslationintodollars,pesos,orboth,asapplicable.Thesetranslationsshouldnotbeconstruedasrepresentationsthatthe
amountsinpesosordollars,asapplicable,actuallyrepresentthosepesoordollaramountsorcouldbeconvertedintopesosordollarsatthe
rateindicated.In2013and2012,translationsofpesosintodollarsanddollarsintopesos,weredeterminedforbalancesheetamountsusing
theclosingexchangeratesof$13.05and$12.85pesosperdollar,respectively,andforstatementsofoperationsamounts,usingtheaverage
exchangeratesof$12.85,$13.15and$12.48pesosperdollarfortheyearsendedDecember31,2013,2012and2011,respectively.
Statements of operations
Thelineitem“Otherexpenses,net” inthestatementsof operations consistsprimarilyofrevenuesand expensesnotdirectlyrelatedto
CEMEX,S.A.B.deC.V.’smainactivity,orwhichareofanunusualand/ornon-recurringnature.
Statements of comprehensive income (loss)
FortheyearsendedDecember31,2013,2012and2011,theCEMEX,S.A.B.deC.V.adoptedamendmentstoIAS1,which,amongother
things,requireentitiestopresentlineitemsforamountsofothercomprehensiveincome(loss)intheperiodgroupedintothosethat,in
accordancewithotherIFRSs:a)willnotbereclassiedsubsequentlytoprotorloss;andb)willbereclassiedsubsequentlytoprotorloss
whenspecicconditionsaremet.
Notes to the parent-company only financial statements
CEMEX, S.A.B. de C.V.
As of December 31, 2013, 2012 and 2011
(Millions of mexican pesos)
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