Cemex 2013 Annual Report Download - page 72

Notes to the consolidated financial statements
12) Other current assets
AsofDecember31,2013and2012,consolidatedothercurrentassetsconsistedof:
2013 2012
Advancepayments $ 2,296 2,203
Assetsheldforsale  1,610 2,193
   $ 3,906 4,396
AsofDecember31,2013and2012,thecaptionofadvancepaymentsincludedadvancestosuppliersofinventorythatwerenotsignicant
(note2G).Assetsheldforsalearestatedattheirestimatedrealizablevalueandincluderealestatepropertiesreceivedinpaymentoftrade
receivablesaswellasotherassetsheldforsale.During2013,2012and2011,CEMEXrecognizedwithin“Otherexpenses,net”impairment
lossesin connection withassetsheld forsale for approximately$56, $595and, $190,respectively.Of such2012 impairmentlosses,
approximately$123(US$9)relatedtotheamountofgoodwillthatwaswritten-offduetothedecisiontoclassicationoftheseassetsas
heldforsale(note15A).
13) Investments in associates and other investments and non-current accounts receivable
13A) Investments in associates
AsofDecember31,2013and2012,themaininvestmentsincommonsharesofassociateswereasfollows:
Activity Country % 2013 2012
ControlAdministrativoMexicano,S.A.deC.V. Cement Mexico 49.0 $ 4,420 4,471
ConcreteSupplyCo.LLC Concrete UnitedStates 40.0  712 –
Cancem,S.A.deC.V. Cement Mexico 10.3  476 476
AkmenesCementasAB Cement Lithuania 37.8  551 399
ABCCapital,S.A.InstitucióndeBancaMúltiple Financing Mexico 49.0  411 369
TrinidadCementLtd Cement TrinidadandTobago 20.0  307 252
SociétéMéridionaledeCarrières Aggregates France 33.3  228 213
Sociétéd’ExploitationdeCarrières Aggregates France 50.0  163 172
LehighWhiteCementCompany Cement UnitedStates 24.5  184 162
IndustriasBásicas,S.A. Cement Panama 25.0  128 121
SociétédesCimentsAntillais Cement FrenchAntilles 26.0  74 70
Othercompanies — — —  1,368 1,274
      $ 9,022 7,979
Out of which:
Bookvalueatacquisitiondate    $ 3,236 2,420
Changesinstockholders’equity     5,786 5,559
AsofDecember31,2013and2012,therewerenowrittenputoptionsgrantedbyCEMEXforthepurchaseofinvestmentsinassociates.
During2013, withthe aimof improvingitsstrategic positionin Lithuania,CEMEXincreasedby approximately4%its equity interest in
AkmenesCementasABforapproximatelyUS$8.Inaddition,asofDecember31,2013,CEMEXholdsapproximately11.8%ofpreferred
sharesthathavenovotingrightsofAkmenesCementsAB.
In September 2013, CEMEX entered into contribution agreements with Concrete Supply Holding Company (“CSH”). The agreements
establishedanewlimitedliabilitycompany,ConcreteSupplyCompanyLLC(“CSCLLC”).Asaresult,CEMEXrecognizedassetsatfairvaluefor
approximately$54($712)whichrepresentedtheassetscontributedtoCSCLLC,givingCEMEXa40%non-controllinginterestinCSCLLC.
CSHalsocontributedreadymixassetstoCSCLLCwithafairvalueofapproximately$87($1,147).CSCLLCwasformedforthepurposeof
engagingintheproduction,saleanddistributionofready-mixconcretewithinNorthandSouthCarolina,UnitedStates.
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