Cemex 2013 Annual Report Download - page 98
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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.Notes to the consolidated financial statements
Currentprovisionsprimarilyconsistofaccruedemployeebenets,insurancepayments,andaccrualsforlegalassessments,amongothers.
Theseamountsarerevolvinginnatureandareexpectedtobesettledandreplacedbysimilaramountswithinthenext12months.
AsofDecember31,2013and2012,othernon-currentliabilities,whichincludethebestestimateofcashowswithrespecttodiverse
issueswhereCEMEXisdeterminedtoberesponsibleandwhichareexpectedtobesettledoveraperiodgreaterthan12months,wereas
follows:
2013 2012
Assetretirementobligations1 $ 7,190 7,062
Environmentalliabilities2 522 520
Accrualsforlegalassessmentsandotherresponsibilities3 3,817 7,412
Non-currentliabilitiesforvaluationofderivativeinstruments 508 4,828
Othernon-currentliabilitiesandprovisions4 23,054 12,782
$ 35,091 32,604
1 Provisionsforassetretirementincludefutureestimatedcostsfordemolition,cleaningandreforestationofproductionsitesattheendoftheiroperation,which
areinitiallyrecognizedagainsttherelatedassetsandaredepreciatedovertheirestimatedusefullife.
2 Environmentalliabilitiesincludefutureestimatedcostsarisingfromlegalorconstructiveobligations,relatedtocleaning,reforestationandotherremedialactions
toremediatedamagecausedtotheenvironment.Theexpectedaverageperiodtosettletheseobligationsisgreaterthan15years.
3 Provisionsforlegalclaimsandotherresponsibilitiesincludeitemsrelatedtotaxcontingencies.
4 AsofDecember31,2013and2012,includesapproximately$20,530and$12,526,respectively,ofthenon-currentportionoftaxespayablerecognizedsince
2009asaresultofthechangestothetaxconsolidationregimeinMexicoapprovedin2009and2013asdescribedinnote19D.Approximately$4,274and
$2,020asofDecember31,2013and2012respectively,wereincludedwithincurrenttaxespayable.
Changesinconsolidatedothernon-currentliabilitiesfortheyearsendedDecember31,2013and2012wereasfollows:
2013
Asset Accruals for Valuation of
retirement Environmental legal derivative Other
obligations liabilities assessments instruments provisions Total 2012
Balanceatbeginningofperiod $ 7,062 520 7,412 5,452 22,277 42,723 47,169
Additionsorincreaseinestimates 417 28 928 2,884 39,443 43,700 35,526
Releasesordecreaseinestimates (399) (31) (4,673) (8,798) (36,532) (50,433) (34,249)
Reclassicationfromcurrenttonon-currentliabilities,net (159) (26) 17 – 408 240 (759)
Accretionexpense 202 10 10 – (675) (453) (963)
Foreigncurrencytranslation 67 21 123 970 8,319 9,500 (4,001)
Balanceattheendofperiod $ 7,190 522 3,817 508 33,240 45,277 42,723
Out of which:
Currentprovisions $ – – – – 10,186 10,186 10,119
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