Cemex 2013 Annual Report Download - page 98

Download and view the complete annual report

Please find page 98 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
Currentprovisionsprimarilyconsistofaccruedemployeebenets,insurancepayments,andaccrualsforlegalassessments,amongothers.
Theseamountsarerevolvinginnatureandareexpectedtobesettledandreplacedbysimilaramountswithinthenext12months.
AsofDecember31,2013and2012,othernon-currentliabilities,whichincludethebestestimateofcashowswithrespecttodiverse
issueswhereCEMEXisdeterminedtoberesponsibleandwhichareexpectedtobesettledoveraperiodgreaterthan12months,wereas
follows:
2013 2012
Assetretirementobligations1 $ 7,190 7,062
Environmentalliabilities2  522 520
Accrualsforlegalassessmentsandotherresponsibilities3  3,817 7,412
Non-currentliabilitiesforvaluationofderivativeinstruments  508 4,828
Othernon-currentliabilitiesandprovisions4  23,054 12,782
   $ 35,091 32,604
1 Provisionsforassetretirementincludefutureestimatedcostsfordemolition,cleaningandreforestationofproductionsitesattheendoftheiroperation,which
areinitiallyrecognizedagainsttherelatedassetsandaredepreciatedovertheirestimatedusefullife.
2 Environmentalliabilitiesincludefutureestimatedcostsarisingfromlegalorconstructiveobligations,relatedtocleaning,reforestationandotherremedialactions
toremediatedamagecausedtotheenvironment.Theexpectedaverageperiodtosettletheseobligationsisgreaterthan15years.
3 Provisionsforlegalclaimsandotherresponsibilitiesincludeitemsrelatedtotaxcontingencies.
4 AsofDecember31,2013and2012,includesapproximately$20,530and$12,526,respectively,ofthenon-currentportionoftaxespayablerecognizedsince
2009asaresultofthechangestothetaxconsolidationregimeinMexicoapprovedin2009and2013asdescribedinnote19D.Approximately$4,274and
$2,020asofDecember31,2013and2012respectively,wereincludedwithincurrenttaxespayable.
Changesinconsolidatedothernon-currentliabilitiesfortheyearsendedDecember31,2013and2012wereasfollows:
2013
Asset Accruals for Valuation of
retirement Environmental legal derivative Other
obligations liabilities assessments instruments provisions Total 2012
Balanceatbeginningofperiod $ 7,062 520 7,412 5,452 22,277 42,723 47,169
Additionsorincreaseinestimates 417 28 928 2,884 39,443 43,700 35,526
Releasesordecreaseinestimates (399) (31) (4,673) (8,798) (36,532) (50,433) (34,249)
 Reclassicationfromcurrenttonon-currentliabilities,net (159) (26) 17 – 408 240 (759)
 Accretionexpense 202 10 10 – (675) (453) (963)
 Foreigncurrencytranslation 67 21 123 970 8,319 9,500 (4,001)
Balanceattheendofperiod $ 7,190 522 3,817 508 33,240 45,277 42,723
Out of which:
Currentprovisions $ – – – – 10,186 10,186 10,119
[97]