Cemex 2012 Annual Report Download - page 107

Notes to the
consolidated
financial
statements
107
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The amounts considered for calculations of loss per share (“LPS”) in 2012, 2011 and 2010 were as follows:
Denominator (thousands of shares) 2012 2011 2010
Weighted average number of shares outstanding 1 31,672,189 31,267,218 31,177,140
Capitalization of retained earnings 2 1,256,354 1,256,354 1,256,354
Effect of dilutive instruments – mandatorily convertible securities (note 16B) 3 582,050 559,663 538,138
Weighted average number of shares outstanding – basic 33,510,593 33,083,235 32,971,632
Effect of dilutive instruments – stock-based compensation (note 21) 3 286,042 174,934 153,640
Effect of potentially dilutive instruments – optionally convertible securities (note 16B) 3 6,569,423 6,316,755 1,640,535
Weighted average number of shares outstanding – diluted 40,366,058 39,574,924 34,765,807
Numerator
Consolidated net loss $ (11,219) (24,767) (13,436)
Less: non-controlling interest net income 662 21 46
Controlling interest net loss (11,881) (24,788) (13,482)
Plus: after tax interest expense on mandatorily convertible securities 196 209 220
Controlling interest net loss – basic loss per share (11,685) (24,579) (13,262)
Plus: after tax interest expense on optionally convertible securities 1,501 1,153 344
Controlling interest net loss – diluted loss per share $ (10,184) (23,426) (12,918)
Controlling Interest Basic Loss Per Share $ (0.35) (0.74) (0.39)
Controlling Interest Diluted Loss Per Share 4 $ (0.35) (0.74) (0.39)
1 Based on IAS 33, the weighted average number of shares outstanding in 2012 and 2011 reflects the shares issued as a result of the capitalization
of retained earnings declared in February 2012 and February 2011, as applicable (note 20A).
2 According to resolution of the stockholders’ meetings on February 23, 2012 and February 24, 2011.
3 The number of CPO to be issued under the executive stock-based compensation programs, as well as the total amount of CPOs committed for
issuance in the future under the mandatorily and optionally convertible securities, are computed from the beginning of the reporting period. The
number of shares resulting from the executives’ stock option programs is determined under the inverse treasury method.
4 For 2012, 2011 and 2010, the effects on the denominator and numerator of potential dilutive shares generate antidilution; therefore, there is no
change between the reported basic and diluted loss per share.
23) Commitments
23A) Guarantees
As of December 31, 2012 and 2011, CEMEX, S.A.B. de C.V. had guaranteed loans to certain subsidiaries of approximately
US$9,148 ($117,557) and US$8,993 ($125,538), respectively.
23B) Pledged assets
As of December 31, 2012 and 2011, CEMEX had liabilities amounting to US$84 and US$129, respectively, secured by property,
machinery and equipment. These amounts exclude the financial liabilities associated with capital leases (note 16B), as there are
no legal liens on the related assets.
In addition, in connection with the Facilities Agreement (note 16A), CEMEX transferred to a guarantee trust and entered into
pledge agreements for the benefit of the Facilities Agreement lenders, note holders and other creditors having the benefit of
negative pledge clauses, the shares of several of its main subsidiaries, including CEMEX México, S.A. de C.V. and CEMEX España,
S.A., in order to secure payment obligations under the Facilities Agreement and other debt instruments. These shares also secure
several other financings entered into prior to the date of the Facilities Agreement.