Cemex 2013 Annual Report Download - page 82

Download and view the complete annual report

Please find page 82 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.

Page out of 172

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172

Notes to the consolidated financial statements
AsofDecember31,2013and2012,CEMEX´sconsolidateddebtsummarizedbytypeofinstrument,wasasfollow:
2013 Short-term Long-term 2012 Short-term Long-term
Bank loans Bank loans
LoansinMexico,2014to2017 $ – 1,090 LoansinMexico,2013to2014 $ – 1,088
Loansinforeigncountries,2014to2018  6 1,234 Loansinforeigncountries,2013to2018 2 3,770
Syndicatedloans,2014to2017  – 53,102 Syndicatedloans,2013to2014 – 49,972
  6 55,426 2 54,830
Notes payable Notes payable
NotespayableinMexico,2014to2017  – 589 NotespayableinMexico,2013to2017 – 568
Medium-termnotes,2014to2022  – 132,702 Medium-termnotes,2013to2020 – 120,535
Othernotespayable,2014to2025 87 2,170 Othernotespayable,2013to2025 80 2,120
87 135,461 80 123,223
Totalbankloansandnotespayable 93 190,887 Totalbankloansandnotespayable 82 178,053
 Currentmaturities 3,866 (3,866)  Currentmaturities 514 (514)
$ 3,959 187,021 $ 596 177,539
ChangesinconsolidateddebtfortheyearsendedDecember31,2013,2012and2011wereasfollows:
2013 2012 2011
Debtatbeginningofyear $ 178,135 208,471 194,394
 Proceedsfromnewdebtinstruments 40,661 33,468 33,591
 Debtrepayments (31,913) (52,699) (44,368)
 Issuanceofdebtinexchangeforperpetualnotes – 4,123 1,491
 Increase(decrease)frombusinesscombinations – – 1,352
 Foreigncurrencytranslationandinationeffects 4,097 (15,228) 22,011
Debtatendofyear $ 190,980 178,135 208,471
Themostrepresentativeexchangeratesforthenancialdebtareasfollows:
January 31, 2014 2013 2012 2011
Mexicanpesosperdollar  13.36 13.05 12.85 13.96
Eurosperdollar  0.7377 0.7268 0.7576 0.7712
Thematuritiesofconsolidatedlong-termdebtasofDecember31,2013,wereasfollows:
2013
2015 $ 9,928
2016  55
2017  60,194
2018  34,236
2019andthereafter.  82,608
$ 187,021
AsofDecember31,2013,CEMEXhadthefollowinglinesofcredit,themajorityofwhicharesubjecttothebanks’availability,atannual
interestratesrangingbetween2.25%and8.33%,dependingonthenegotiatedcurrency:
Lines of credit Available
Otherlinesofcreditinforeignsubsidiaries $ 6,441 4,892
Otherlinesofcreditfrombanks  3,712 3,676
   $ 10,153 8,568
[81]