Cemex 2013 Annual Report Download - page 78

Notes to the consolidated financial statements
In2005,CEMEXandReadyMixUSAformedtwojointventures:a)CEMEXSoutheast,LLC,ajointventurethatwas50.01%ownedand
consolidatedbyCEMEX,andwascomprisedoftheDemopoliscementplantinAlabamaandtheClincheldcementplantinGeorgia,witha
combinedannualinstalledcapacityof1.7milliontons,and12cementterminals;andb)ReadyMixUSALLC,ajointventurethatwas50.01%
ownedandconsolidatedbyReadyMixUSA,andwascomprisedof10sandandgravelpits,149concreteplantsand20blockplantslocated
inthestatesofArkansas,Mississippi,Tennessee,Alabama,Georgia,andFlorida.
StartingonJune30,2008,ReadyMixUSAhadtheright,butnottheobligation,tosell(orput)itsinterestsinbothjointventurestoCEMEX.
OnSeptember30,2010,ReadyMixUSAexercisedthis putoption.Asa resultofReadyMixUSA’sexerciseofitsputoptionandafter
performanceoftheobligationsbybothpartiesundertheputoptionagreement,onAugust12,2011,throughthepaymentofapproximately
US$352($4,914),CEMEXacquireditsformerjointventurepartner’sinterestsinCEMEXSoutheast,LLCandReadyMixUSA,LLC,including
anon-competeandatransitionservicesagreement.Inaccordancewiththejointventureagreements,fromthedateinwhichReadyMixUSA
exerciseditsputoptionuntilCEMEX’sacquisitiondate,ReadyMixUSAcontinuedtocontrolandmanageReadyMixUSA,LLC.Nonetheless,
basedonIAS27,andconsideringtheexistenceofasettlementpricethatcouldhavebeenpaidanytimeuntilSeptember30,2011atCEMEX
electionandpotentialvotingrights,ReadyMixUSALLCwasconsolidatedbeginningMarch31,2011.Uponconsolidation,thepurchase
pricewasassignedtoeachjointventureproportionatelytoCEMEX’srelativecontributioninterestinCEMEXSoutheast,LLCandReadyMix
USA,LLC,consideringtheoriginalfairvaluesasofthedatesofthe2005agreements.During2011,theacquisitionofthenon-controlling
interestinCEMEXSoutheast,LLC,fullyconsolidatedbyCEMEXasoftheacquisitiondate,andthenon-controllinginterestinReadyMix
USA,LLC,generatedagainofapproximatelyUS$24($316)resultingmainlytothemeasurementatfairvalueofCEMEX’spreviouslyheld
equityinterestinReadyMixUSA, LLC,and wasrecognized within“Otherexpenses,net.”Theconsolidated statementof operations for
2011includedtheresultsofoperationsofReadyMixUSA,LLCforthenine-monthperiodendedDecember31,2011.During2012,after
conclusionofthepurchasepriceallocation,therewerechangesinthevalueofcertainassetsandliabilities,noneofwhichwereindividually
signicant,whichdecreasedtheaforementionedaggregategainonpurchasebyapproximatelyUS$1($13).
15C) Analysis of goodwill impairment
AsofDecember31,2013and2012,goodwillbalancesallocatedbyoperatingsegmentwereasfollows:
2013 2012
UnitedStates $ 111,064 109,326
Mexico  6,399 6,369
Northern Europe
UnitedKingdom  4,559 4,462
France  3,638 3,451
CzechRepublic  428 419
Mediterranean
Spain   8,845 8,660
UnitedArabEmirates  1,370 1,339
Egypt   231 231
SA&C
Colombia  5,289 5,510
DominicanRepublic  215 201
RestofSA&C1  743 733
Asia
Philippines  1,317 1,389
Others
Otherreportingunits2  359 354
   $ 144,457 142,444
1 ThiscaptionreferstotheoperatingsegmentsintheCaribbean,Argentina,CostaRicaandPanama.
2 ThiscaptionisprimarilyassociatedwithNeorisN.V.,CEMEX’ssubsidiaryinvolvedinthesaleofinformationtechnologysolutionsandservices.
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