Cemex 2012 Annual Report Download - page 70
Download and view the complete annual report
Please find page 70 of the 2012 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.-
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
 |
 |
Notes to the
consolidated
financial
statements
70
< previous I contents I next >
15) Goodwill and intangible assets
15A) Balances and changes during the period
As of December 31, 2012 and 2011, consolidated goodwill, intangible assets and deferred charges were summarized as follows:
2012 2011
Accumulated Carrying Accumulated Carrying
Cost amortization amount Cost amortization amount
Intangible assets of indefinite useful life:
Goodwill $ 142,444 – 142,444 $ 152,674 – 152,674
Intangible assets of definite useful life:
Extraction rights 27,685 (2,242) 25,443 29,839 (2,307) 27,532
Industrial property and trademarks 429 (76) 353 4,012 (3,000) 1,012
Customer relations 4,862 (2,606) 2,256 5,172 (2,324) 2,848
Mining projects 1,642 (300) 1,342 2,083 (402) 1,681
Others intangible assets 14,068 (12,384) 1,684 16,872 (13,557) 3,315
$ 191,130 (17,608) 173,522 $ 210,652 (21,590) 189,062
The amortization of intangible assets of definite useful life was approximately $3,113 in 2012, $3,079 in 2011 and $3,771 in
2010, and was recognized within operating costs and expenses.
Goodwill
Changes in consolidated goodwill in 2012, 2011 and 2010 were as follows:
2012 2011 2010
Balance at beginning of period $ 152,674 135,822 144,190
Business combinations – 14 81
Disposals and cancellations 1 (323) – (83)
Reclassification to assets held for sale 2 (212) – –
Impairment losses (note 15C) 3 – (145) (189)
Foreign currency translation effects (9,695) 16,983 (8,177)
Balance at end of period $ 142,444 152,674 135,822
1 In 2012, due to the decision to transfer certain milling assets from Spain to Colombia, CEMEX cancelled approximately $323 of goodwill in Spain
associated with the original acquisition of the entity that held the assets against other expenses, net.
2 In 2012, due to the classification of certain CGUs in the United States to assets held for sale, considering the historical average Operating EBITDA
generation of such CGUs, CEMEX allocated approximately $212 of goodwill related to the groups of CGUs to which goodwill had been allocated in
such country to the fair value less cost to sale associated with such assets recognized in assets held for sale (note 12).
3 In 2011 and 2010, based on impairment tests made during the last quarter of such years, CEMEX recognized within “Other expenses, net” goodwill
impairment losses in connection with the CGUs to which goodwill had been allocated in Latvia for approximately $145 (US$12) in 2011, and
in Puerto Rico for approximately $189 (US$15) in 2010. The impairment losses in such countries represented 100% of the amount of goodwill
allocated to such CGUs. In 2012, there were no impairment losses of goodwill (note 15C).